ART. 81.] STATE TAX COMMISSIONER. 1257

tion and assessment of the shares of the capital stock, or shares of
such bank, corporation or joint stock company, shall have been
finally determined or made for State purposes, the State tax com-
missioner shall certify to the county commissioners of each
county where any of such respective stockholders or shareholders
may reside, and to the appeal tax court of Baltimore city, if any
of said stockholders or shareholders reside in said city, the
assessed taxable value of such respective shares of stock or shares
so ascertained as aforesaid; and the taxable value of such respec-
tive 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 and municipal purposes, be
valued to the owners thereof in the county or city in this State
in which such owners shall respectively reside; but the taxes
assessed upon said respective taxable values of such respective
share or shares of stock, shall be collected from such bank, corpo-
ration or joint stock company, and when so paid shall be charged
by such bank, corporation or joint stock company to the
account of such stockholders or shareholders, respectively; but it
is expressly provided that all railroad companies worked by
steam, incorporated by or under the laws of this State, and doing
business in this State, shall respectively be subject to an annual
State tax of one-half of one per centum upon their respective
gross receipts within this State, which shall be paid and collected
in the manner provided by sections 146-154 of this article; and
the real and personal taxable property belonging to such respective
railroad companies shall be subject to county and municipal taxa-
tion in this State, in the respective counties and cities in which
such property is located; and where such respective railroad com-
panies are subject to such gross receipt tax for State purposes,
their shares of stock and real or personal property shall not be
subject to taxation for State purposes; and where such real and
personal property of such respective railroad companies is subject
to county and municipai taxation, their respective shares of stock
shall not be subject to county and municipal taxation.

Appeal Tax Court v. Western Md. R. R.—Sam'e v.Union R. R., 50 Md 276.
M. & C. C. v. City Pass. R. Co , 57 Md. 31. American Coal Co. v. Co. Comm'rs,
59 Md. 185. Co Comm'rs v.Union Mining Co , 61 Md 545. M & C. C. v.
Canton Co., 63 Md. 219. State v. Central Savings Bank, 67 Md. 296