HENRY LLOYD, ESQUIRE, GOVERNOR.

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

549

payable by said city, or shares in 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 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
stich 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 de-
ducted 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

Tax Commis-
sioner may
allow credits.

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 investment 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 re-

Credit.