REVENUE AND TAXES. 1023

are or shall be investments or reinvestments of any property or funds so
given.

(30) Paintings, bronzes, marbles and other works of art owned by indi-
viduals, and not purchased or held for monetary profit, or in connection
with any business, and which are offered to the public authorities for exhi-
bition for at least 30 days in each year.

1929, ch. 228.

(31) All bonds or certificates of indebtedness heretofore or hereafter
issued by the University of Maryland Athletic Board, Incorporated, shall
be exempt from State, county and municipal taxation; provided that the
proceeds derived from the sale thereof be used exclusively for the improve-
ment of land or buildings owned by the State of Maryland, and used in

connection with the University of Maryland.

1931, ch. 299. 1933, ch. 245.

(32) The intangible personal property of corporations conducting free
non-sectarian schools in the City of Baltimore, the income from which
intangible personal property is used exclusively for the maintenance of

such schools.

1931, ch. 354.

(33) All buildings, equipment and furniture of hospitals, asylums,

churches, places of worship, charitable and benevolent institutions, or the
grounds appurtenant thereto, in any county, city or incorporated town of
this State, shall be exempted from the payment of any assessment for the
opening, grading, macadamizing and paving of any road or street in said
county, city or incorporated town; and any such assessment now levied
against any such property, and not collected, is hereby cancelled. Pro-
vided that this section shall only apply to Baltimore City.

166. Machinery of a manufacturer even though attached to freehold is per-
sonal property within purview of statutes exempting machinery from taxation.
Anne Arundel County v. Baltimore Sugar Refining Co., 99 Md. 485.

4. See notes to secs. 136 and 162 and to sec. 169 in footnote to this article.

As to exemption of building associations from taxation, see art. 23, sec. 165.

See art. 77, secs. 41. 237 and 238.

This section referred to in holding invalid ch. 497 of 1931. exempting W., B.
& A. Elec. R. Co. from taxation. Baltimore v. Williams, 61 Fed. (2nd), 374 (re-
versed and act held valid by U. S. Supreme Court—289 U. S. 36).

A vessel engaged in commerce between Baltimore and Philadelphia via the
Chesapeake & Delaware Canal is engaged in coastwise commerce within the
meaning of this section (par. 28) and entitled to exemption from taxation.
B. & P. Steamboat Co. v. State Tax Commission, 157 Md. 279.

Sub-sec. 28 does not exempt vessels running between Baltimore and Norfolk.
Steam Packet Co. v. Baltimore, 161 Md. 9.

National bank shares held by R. F. G. not exempt under this section. Tax
Commn, v. Balto. National Bank, Daily Record, June 24, 1935.

Where building commission to acquire land and erect building for Knights
of Pythias, and holding fee simple title to land and building previous to its
conveyance to lodge, held that land and building were assessable to commission
and not to lodge and therefore not exempt as charitable and benevolent institu-
tion under this section. Knights of Pythias v. Baltimore, 157 Md. 542.