524 REVENUE AND TAXES. [ART. 81

national bank located in this State, or in any corporation incor-
porated under the laws of the State shall be valued and assessed
for the purpose of State, county and municipal taxation, to the
owners thereof in the county or city in this State in which said
owners may respectively reside; the taxable value of such shares
shall be ascertained and determined, and the taxes thereon levied
and collected as is now or may be hereafter provided by law.

All personal property in which any resident of this State has an
equitable interest with the legal title to the same in some other
person or corporation who is a non-resident shall be valued and
assessed for the purposes of State, county and municipal taxation
to the equitable owners thereof in the county or city in which he,
she or it resides, and such equitable owner or owners shall pay
the taxes thereon.

All shares of stock or shares in any bank other than a national
bank, or in any company or corporation incorporated by or located
in, and doing business in any other State or District of Columbia,
or in any territory or foreign country owned by residents of this
State shall be valued and assessed for the purposes of State,
county and municipal taxation, to the owners thereof in the
county or city in which said owners may respectively reside.
All bonds made or issued by any State or District of Columbia
or territory, or by any corporation whatsoever belonging to the
residents of this State, all investments in private securities of
every kind and description belonging to the residents of this State,
the real property located in this State, and the personal property
owned by any corporation incorporated by this State, not having
a capital divided into shares, or having shares of capital stock
which are wholly or in part exempted from taxation by this State
when such real or personal property so owned by said corpora-
tion is not protected from taxation, by the exemption of said
shares of stock from taxation shall be valued and assessed for the
purpose of State, county and municipal taxation to the owners
thereof, in the county or city in which such owners may respect-
ively reside; all certificates of indebtedness or evidences of debt
in whatever form made or issued by any State, territory or by the
District of Columbia, or by any public corporation or by any
foreign country owned by residents of this State, shall be valued
and assessed for State, county and municipal taxation to the