WILLIAM T. HAMILTON, ESQUIRE, GOVERNOR. 179

	of such shares shall be ascertained and finally deter-
	mined, and the taxes thereon levied and collected in
	each year, under the regulations prescribed by sec-
	tions one hundred and fifty-one and one hundred
	and fifty-two of article eighty-one of the Code of
	Public General Laws of this State, title " Revenue
	and Taxes," as enacted by the act of eighteen hun-
	dred and seventy-eight, chapter one hundred and
	seventy-eight, or as the same may be now or hereaf-
	ter provided by law ; 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 in any
	Territory or country owned by residents of this
	State ; all bonds, made or issued by any State, own-
	ed by residents of this State ; all bonds, made or is-
	sued by any Territory or by any corporation, belong- ing to residents of this State ; all investments in
	private securities of every kind and description be-
	longing to residents of this State ; the real property
	located in this State, and the personal property own-	How valued.
	ed 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 ex-
	empted from taxation by this State ; when the said
	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 ; and all other
	property of every kind, nature and description with- in this State shall be valued to the respective own-
	ers thereof in the manner prescribed by the laws of
	this State, and shall be assessed and taxed as the	How taxed.
	property of such respective owners, according to such
	prescribed methods of valuation, except as provided
	in the next ensuing section.
	SUB-SECTION 3. That the provisions of the pre-
	ceding section shall not apply to any bonds, stock,	Not to apply
	or evidence of debt issued by the United States, or	to bonds, &c.
	to any property belonging to the United States, or
	to this State, or to any county, or incorporated city
	or town in this State, nor to houses or buildings used
	exclusively for public worship, or to the furniture con-
	tained therein, or to the parsonages connected there-
	with, or to the grounds appurtenant to such houses,
	or to buildings so exclusively used for public wor-