1258 REVENUE AND TAXES. [ART. 81.

1875, ch. 483, sec. 88. 1886, ch. 312.

142. Any corporation having a capital stock divided into-
shares, and owning as an investment of part of its capital any of
the stock debt of this State, upon which the State tax has been
deducted by the treasurer, or of the stock debt of the city of
Baltimore on which the State taxes have been paid or are pay-
able by said city, or shares in any bank or other corporation of
this State upon which the State and county or city taxes are
levied and paid, or are payable by such bank or other corpo-
ration, may report the same in detail under the oath of the presi-
dent, cashier, treasurer or other proper officer, to the State tax
commissioner, and the amount of such stock debt or debts, or the
assessed value of such capital stock so owned, and upon which
such taxes are paid or payable as aforesaid, shall be allowed as a
credit in the settlement of the taxes on the shares of capital stock
of such corporation so owning the same; and any corporation not
having capital stock divided into shares, and owning as an invest-
ment of part of its assets any of the stock debt of this State upon
which the State tax has been deducted by the treasurer, or of the
stock debt of the city of Baltimore on which the State taxes have-
been paid or are payable by said city, or shares of the capital
stock of any bank or other corporation of this State, upon which
the State and county or city taxes are levied and paid, or are pay-
able by such bank or other corporation, may report the same in
detail, under the oath of its president, cashier, treasurer or other
proper officer, to the State tax commissioner; and the amount of
such stock debt or debts, or the assessed value of such shares of
capital stock so owned, and upon which such taxes have been
paid, or are payable as aforesaid, shall be allowed as a credit in
the settlement of the taxes on the assets of such corporation so
owning the same; but no credit shall be allowed to any such
corporations by reason of any investment on which the taxes are
not paid or payable as aforesaid; nor shall such credits be
allowed in any case where the officer making such return for
such corporation shall fail to state in such return that said in-
vestments are owned by the corporation of which he is snch.
officer, and are not held by such corporation as a security for any
loan, or as a collateral security for any payment or other purpose.