LLOYD LOWNDES, ESQUIRE, GOVERNOR.

153

All personal property in which any resident of this State
has an equitable interest with the legal title to the same in
some other person or corporation who is a non-resident shall bo
valued and assessed for the purposes of State, county and
municipal taxation to the equitable owner thereof in the county
or city in which he, she or it resides, and such equitable owner
or owners shall pay the taxes thereon.

Personal
property.

All shares of stock or shares in any bank other than a nation-
al bank, or in any company or corporation incorporated by or
located in, and doing business in any other State or District
of Columbia, or in any territory or foreign country owned by
residents of this State, shall be valued and assessed for the
purposes of State, county and municipal taxation, to the own-
ers thereof in the county or city in which said owners may,
respectively, reside. All bonds made or issued by any State

Bank stock.

or District of Columbia or territory or by any corporation
whatsoever belonging to the residents of this State, all invest-
ments 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 owned by any corpora-
tion incorporated by this State, not having a capital divided
into shares, or having shares of capital stock which are wholly
or in part exempted from taxation by this State when such
real or personal property so owned by said corporation is not
protected from taxation, by the exemption of said shares of
stock from taxation, shall be valued and assessed for the pur-
pose of State, county and municipal taxation to the owners
thereof, in the county or city in which such owners may re-
spectively reside; all certificates of indebtedness or evidences
of debt in whatever form made or issued by any State, ter-
ritory or by the District of Columbia, or by any public
corporation or by any foreign country owned by residents of
this State, shall be valued and assessed for State, county and
municipal taxation to the owners thereof in the county or
citv of this State in which such owners may, respectively,
reside.

State bonds.

The property, real and personal of each and every rail-
road company in this State, working its roads by steam
power, shall be valued and assessed for county and munici-
pal purposes, in the same manner as the property of individ-
uals may be valued and assessed under this act; provided,
that no extra assessment shall be made, and no extra or
special tax shall be levied or collected on any bridge over
streams forming any part of the roadway of any railroad or

Railroad
property to
be assessed.