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1114 JOURNAL OF PROCEEDINGS [Mar. 24,
By this bill it is proposed to ad 1 an additional sec-
tion to Article 1, of the Code of Public Local Laws,
title "Allegany County," sub title "County Tax Col-
lector," said section to be known as "43 A," which
reads as follows :
"The incorporated institutions and companies in
said county, whether they shall or shall not have de-
clared any dividends, or earned any profits, shall pay
to the State and county faxes levied upon the assess-
ed value of their capital stock held by stockholders,
residents or non-residents of said county, but the
holders of said stock shall not be liable to taxation
elsewhere or otherwise uj on the stock held by them."
This is in direct conflict with all the laws, now in
existence regulating taxation in this State. Shares of
stock of corporations being personal property for the
purpose of taxation follow the citus of the owner, and
must be taxed where the owner resides.
This being the universal rule in Maryland and having
received the sanction of the Supreme Courts of our
State, should not be interferred with. Besides it
might work a serious detriment to the taxable basis
of Baltimore city, where it is more than likely there
are large holding of the corporations coal, railroad,
etc., in Allegany county.
These are the causes which lead to my disapproval.
FRANK BROWN,
Governor.
The House reconsidered said bill.
The question being put,
"Shall the bill pass notwithstanding the objection
of the Executive ?"
It was decided in the negative, by yeas and nays, as
follows:
AFFIRMATIVE.—None.
NEGATIVE —Messrs. Speaker, Garner, Strong, Bra-
shears, Donaldson, Hutchins, Sapnington, of Anne
Arundel, Ireland, Carrico, Maddox, Orrick, Cole,
Elliott, Hamilton, Jr., Monmonier, Schlaffer, Collins,
Wooters, Leonard, Green, Anderson, Sterling, Mere-
dith, Miles, Kirk, Beeks, Grove, of Cecil, Bowie, of
Prince George's, Perrie, Bryan, Wallen, Godwin,
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