842 REVENUE AND TAXES. [ART. 81.

1904, art. 81, sec. 210. 1896, ch. 120, sec. 194. 1896, ch. 143, sec. 201. 1914, ch. 411
214. All bonds, certificates of indebtedness or evidence of debt in
whatsoever form made or issued by any public or private corporation
incorporated by this State or any other State, territory, district or
foreign country, or issued by any State (except the State of Mary-
land), territory, district or foreign country not exempt from taxation
by the laws of .this State, and owned by residents of Maryland, shall
be subject to valuation and assessment to the owners thereof in the
county or city in which such owners may respectively reside, and they
shall be assessed at their actual value in the market, and such upon
which no interest shall be actually paid shall not be valued at all, and'
upon such valuation the regular rate of taxation for State purposes,
but in no event more than fifteen cents on each one hundred dollars,
shall be paid, and there shall also be paid on such valuation thirty
cents and no more on each one hundred dollars for county city and.
municipal taxation in such county or city of this State in which the-
owner may reside. All shares of stock or shares in any bank other than
a national bank, or in any company or corporation incorporated by or
located in and doing business in any other State, or District of Colum-
bia, or in any territory or foreign country owned by residents of this
State, shall be valued and assessed for the purpose of State, county and
municipal taxation to the owners thereof in the county or city in which
such owners may reside, and said shares shall be assessed and valued
at their actual value in the market, and those upon which no dividend
shall be actually, paid shall not be valued at all, and upon the valuation
so made the regular rate of taxation for State purposes, but in no event:
more than fifteen cents on each oue hundred dollars, shall be paid, and
there shall also be paid on such valuation thirty cents, and no more, on
each one hundred dollars for county, city and municipal taxation in
such, county or city of this State in which the owners may reside.*

See notes to this section (as it stood in 1911) in volume 2 of the Anno-
tated Code.

Distilled Spirits.

218.

While a distilling company is liable for allowing whiskey to be taken
away from the warehouse without collecting and paying over the tax
imposed by this section, there is no lien on whiskey remaining on storage
but belonging to others. Merchants Bank v. Roxbury Distilling Co., 196'
U. S. 103. (See also the opinion of the Special Master in this case, par-
ticularly on page 92.)

To the first and second notes to section 218 on pages 1896 and 1897 of
volume 2 of the Annotated Code, add the case of Merchants Bank v. Rox-
bury Distilling Co., 196 U. S. 76.

*Nothing in the act of 1914, chapter 411, affects taxes for 1914 or any year
prior thereto.