iv REPORT OF THE

30th September 1881, as appears by the report of the Comp-
troller, (Appendix Table 7, ) is $72, 468. 95, to which must be
added the State taxes for the real property of such corpora-
tions for the year 1881, amounting to $39, 059. 72, making a
total of $111, 528. 67.

This sum is larger than the receipts from corporations in
1879, by the sum of $24, 371. 46, and larger than those of
1877, by the sum of $38, 208.16.

The wisdom of the provision in the Act of 1878, chapter
178, which requires the real property of all corporations to
be assessed in the localities where such real property is
situate, and the assessments of such real property to be
deducted from the aggregate value of. the shares of stock, is
very apparent in securing to each locality the benefit of all
the real property within its borders, for the purposes of local
taxation, and also in furnishing in many cases a more reliable
valuation for the shares of stock.

The receipts of the present year show an exceptional
proximity to the whole levy, and demonstrate that the work-
ing of the system is becoming smooth and acceptable to the
corporations charged with taxes. While the increase in the
net levy of 1881 over that of 1879 from corporations, is only
$12, 212. 88, the increase in the receipts for the present year,
amount to $24, 371. 46, including those from the real property
of corporations.

Table A, appended to this report, exhibits in the aggre-
gate the amount of State taxes levied on the real property,
shares of stock, assets and deposits of corporations, for the
year 1881.

Table B shows in detail the aggregate assessment of the
shares of stock of each bank or other corporation, the assessed
value of it. s real property as certified to the State Tax Com-
missioner by the County Commissioners of the several coun-
ties and the Appeal Tax Court of Baltimore city, the amount
of investments of the capital of each bank or other corpora-
tion in the stocks of other banks or corporations of this State,
upon which the tuxes are paid, and for which credits are
allowed under Section 88, of the Act of 1874, Chapter 483,
the amount allowed to each homestead or building associa-