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The Ordinary Business Corporation Act provides further that
domestic corporations shall report to the State Tax Commission
annually their investments in bonds and in shares of foreign cor-
porations that may be subject to the "Security rate," and it is then
the duty of the State Tax Commission to transmit this information
to the local assessing bodies in order that the assessments may be
made by such local authorities.

Conceding that it is the duty of the State Tax Commission to
assess the tangible personal property, there is no reason why the
Commission should not also assess the intangible personal property
and certify the amount of such assessment to the local collecting
authorities, and it is recommended that such power be conferred.

Under the provisions of Section 88-C of the law it is provided
that the assessment of tangible personal property of corporations
shall be apportioned to the several taxing authorities in the State,
in the same ratio as the number of shares of stock of such corpora-
tions held by residents of each county or city of this State bears to
the total number of shares outstanding of such corporation, and
that the stock held by non-residents shall be treated as if held by
residents of the county, city or municipality where the main office
of such corporation in this State for the transaction of business is
actually situated; and when so apportioned, the State, county and
municipal taxes thereon shall be payable by such corporations to
the officer authorized to collect State, county and municipal taxes
at the residences of such stockholders.

It is recommended that the State taxes of ordinary business
corporations be paid to the State Treasurer, as is now provided for
the payment of State taxes of share corporations.

Appended is a table showing the assessments made by the Com-
mission in 1915, compared with assessments made in 1914; but in
considering the large increase for this year, allowance should be
made for new corporations organized since the 1914 assessments
were determined.