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640 REVENUE AND TAXES. [ART. LXXXI
1914. ch. 797, sec. 162A. 1918, ch. 294, sec. 162A.
162A. The State Tax Commission shall take into consideration, in
determining the taxable values of the shares of stock of any Bank, State
or National, and Trust Company, located and doing business in this
State except in case of such Banks or Trust Companies as are in liqui-
dation, the capital stock paid in, its surplus and undivided profits, as
provided for in Section 153A of this Article and from the valuation
which the State Tax Commission may find shall be deducted the
assessed value of the real property belonging to and assessed to such
Bank or Trust Company, and the assessed value of all other property,
or investments, held or owned by Banks or Trust Companies, now
authorized by Article 81, Section 163 of the Annotated Code of Maryland
to be so deducted, and the remainder shall be by the State Tax Com-
mission divided by the number of shares of such capital stock outstand-
ing for the purpose of determining the respective taxable value of each
share, as provided in the preceding Section, and there shall be paid
on such valuation the regular rate of taxation for State purposes, and
there shall also be paid on such valuation one per cent., and no more,
in all for all County, City and Municipal taxation, which said tax
shall be distributed among the different jurisdictions, entitled to tax
the said shares, in the proportion which the rate of each jurisdiction
bears to the aggregate of the rates of such jurisdictions, and said tax
shall be in lieu of all other taxes whatsoever, for County and Municipal
purposes upon the shares of stock and the owners of stock in such Banks
or Trust Companies. But in the case of such Banks and Trust Com-
panies, as may be in the course of liquidation, the aggregate value of
all shares thereof, for the purpose aforesaid, shall be determined by the
State Tax Commission from the assets and liabilities thereof, and upon
such valuation of such shares so determined, the regular rate of taxation
for State and local purposes, shall be paid, in the manner provided in
this Article. Credits by reason of the ownership by any such Bank, or
Banks, or Trust Companies, of the Baltimore City Burnt District Loan
Stock issued under Chapter 468 of the Acts of 1904, the Water Loan,
issued under Chapter 333 of the Acts of 1902, and the Conduit Loan,
issued under Chapter 246 of the Acts of 1902, whether heretofore or
hereafter issued, and also all other credits authorized'and provided for
under said Article 81, Section 163, of the Annotated Code of Mary-
land, shall be allowed as provided for in said last mentioned section,
but shall be computed on the basis of the rates for State, County, City
and Municipal taxation, respectively, herein prescribed; no such credits,
however, shall be allowed in any case where the officer making such
returns for such Bank, or Banks, or Trust Companies, shall fail to
state in such return that said Investments are owned by the Bank, or
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saying that "there is nothing so repugnant and irreconcilable between the two
acts that prevents them from standing together and being treated as in force, in
ascertaining the taxable values of the shares of the stock of the corporations
therein mentioned."
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