1852 REVENUE AND TAXES. [ART. 81

owned by residents of this State, and taxable within this State,
shall for county and municipal purposes be valued to the
owner thereof in the county or city in this State in which such
owners shall respectively reside, and the said taxable value of
such of said stock or shares as are held by non-residents of
this State shall for county and municipal purposes be valued
to the owners thereof in the county or city in which said bank,
corporation or joint stock company is situated; but all county
or municipal taxes assessed upon said respective taxable value
of such respective shares of stock or shares shall be collected
from such bank, corporation or joint stock company, and when
so paid shall or may 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 working their roads by steam power incor-
porated by, or under the laws of this State or any other State,
territory, District of Columbia or foreign country and doing
business in this State, shall respectively be subject to the
annual State tax upon their respective gross receipts within
the State, prescribed by section 164, which shall be paid and
collected in a manner provided now or hereafter by law, and
the real and personal taxable property belonging to such
respective railroad companies shall be subject to county and
municipal taxation to this State in the respective counties and
cities in which such property is located; and where such respec-
tive railroad companies are subject to such gross receipts tax
for State purposes, their shares of stock and real or personal
property shall not be subject to taxation for State purposes,
and when such real and personal property of such respective
railroad companies is subject to county and municipal taxation,
their respective shares of stock shall not be subject to county
and municipal taxation, but the capital stock and property of
all other corporations which are subject to a tax upon their
gross receipts, other than railroad companies, shall be valued,
assessed and taxed for State, county and municipal purposes
like the capital stock and property of other corporations under
this article.

Appeal Tax Court v. Western Md. R. R.—Same 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'is v. Union Mining Co., 61 Md 545. M.
& C. C v. Canton Co., 63 Md. 219. State v. Central Savings Bank. 67 Md.
296. U. S. Electric Power Co.V State, 79 Md 69. Crown Cork and Seal
Co. v. State, 87 Md. 696. Hull v. Southern Development Co., 89 Md. 9.
Clark Distilling Co. v. Cumberland, 95 Md. 471. Skinner Dry Dock Co. v.
Balto. City, 96 Md. 42, 43. Corry v. Balto City, 96 Md. 321. 322.