ART. 81] STATE TAX COMMISSIONER. 1853

1888, art. 81, sec. 142. 1875, ch. 483, sec. 88. 1886, ch. 312.

160. 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 payable by said city, or shares in any bank or other corpo-
ration of this State upon which the State and county or city
taxes are levied and paid, or are payable by such bank or other
corporation, may report the same in detail under the oath of
the 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 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 investment 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 payable 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 invest-
ment 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 investments are owned by the corpora-
tion of which he is such officer, and are not held by such
corporation as a security for any loan, or as a collateral secu-
rity for any payment or other purpose.

1888, art. 81, sec. 143. 1882, ch. 342.

161. The president, or other proper officers of every corpo-
ration actually engaged in the business of manufacturing in