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ART. LXXXI] STATE TAX COMMISSION. 639
to the County Commissioners of each County where any of the stock-
holders or shareholders may reside, and to the Appeal Tax Court of
Baltimore City, if any of said stockholders or shareholders reside in
said City, and to the County Commissioners of the County in which
such bank, corporation or joint stock company is situated, or to the
Appeal Tax Court of Baltimore City, if it is situate in said City, the
assessed taxable value of such respective shares of stocks, or shares so
ascertained as aforesaid. And the said taxable value of such respective
shares of stock or shares in such banks, corporations or joint stock
companies, owned by residents of this State, and taxable within this
State, shall for County or municipal purposes be valued to the owner
thereof in the County or City in this State in which such owners shall
respectively reside, and the said taxable value of such of said stock or
shares as are held by non-residents of this State shall for County and
municipal purposes be valued to the owners thereof in the County or
City in which said bank, corporation or joint stock company is situated;
but all County or municipal taxes assessed upon said respective taxable
value of such respective shares of stock or shares shall be collected
from such bank, corporation or joint stock company, and when so paid
shall or may be charged by such bank, corporation or joint stock com-
pany to the account of such stockholders or shareholders, respectively;
but it is expressly provided that all railroad companies working their
roads by steam power incorporated by or under the laws of this State,
or any other State, Territory, District of Columbia or foreign country
and doing business in this State, shall respectively be subject to the
annual State tax upon their respective gross receipts within the State,
prescribed by Section 167, which shall be paid and collected' in a man-
ner provided now or hereafter by law; and the real and personal tax-
able property belonging to such respective railroad companies shall be
subject to County and municipal taxation to this State, in the respective
Counties and Cities in which such property is located; and where such
respective railroad companies are subject to such gross receipts tax
for State purposes, their shares of stock and real or personal property
shall not be subject to taxation for State purposes, and when such real
or personal property of such respective railroad companies is subject to
County and municipal taxation, their respective shares of stock shall
not be subject to County and municipal taxation, but the capital stock
and property of all other corporations which are subject to a tax upon
their gross receipts, other than railroad companies, shall be valued,
assessed and taxed for State, County and municipal purposes like the
capital stock and property of other corporations under this Article.*
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*In view of the decisions of the Court of Appeals of Maryland in Baltimore v.
German-American Fire Insurance Company (filed April 2, 1918), this section is
here codified as repealed and re-enacted by the act of 1914, chapter 197. This
section as repealed and re-enacted by the act of 1914, chapter 528, will be found
on page 837 of volume 3 of the Annotated Code. In the above decision the Court
of Appeals, after holding that chapter 528 did not expressly repeal chapter 197,
further decides that there was no implied repeal of the latter by the former,'
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