156

LAWS OF MARYLAND.

State, but not within any city or incorporated town of this
State, nor to the ground not exceeding forty acres appurtenant
respectively thereto, which is necessary for the respective
uses thereof, nor to the buildings, furniture, equipment or
libraries of incorporated educational or literary institutions,
or to the ground appurtenant thereto, in any city or incorpo-
rated town of this State which is necessary for the respective
uses thereof; nor to the buildings, equipment or libraries of
incorporated educational or literary institutions in any county
of this State, nor to the ground, not exceeding forty acres,
appurtenant respectively thereto, which is necessary for the
respective uses thereof; nor to the personal property of any
corporation incorporated by this State, and having capital
stock divided into shares, when said shares of said corpora-
tion are subject to taxation under the laws of this State, nor
to the shares of stock of railroad companies working their
roads by steam power, incorporated by or under the laws of
this State, which are subject to taxation upon their gross
receipts within this State, and to county and municipal taxa-
tion upon their respective real and personal property in the
respective counties and cities of this State, in which such
respective properties are located, nor to the book accounts or
bills receivable or evidences of debt given for such accounts of
any person engaged in commercial business who is. taxed upon
a fair average value of his stock of goods, wares and merch-
andise; and every person engaged in commercial business shall
be taxed npon the fair average value of his stock in such
business during the year preceding the assessment upon which
such tax is levied; and each and every one of said exemptions
from taxation shall be strictly construed.

Statement of
real prop-
erty to be
made by
bank presi-
dents.

141. At the time of making the returns of stockholders to
the County Commissioners and Appeal Tax Court of Balti-
more City, as required by law, the president or other proper
officer of every bank or other incorporated institution incorpo-
rated under the laws of this State or doing business therein,
and of every joint stock company doing business in this State,
shall furnish to the County Commissioners of each county in
which such bank or other incorporated institution or joint stock
company shall own or possess any real property, and to the
Appeal Tax Court of Baltimore City, if such bank or other
incorporated institution or joint stock company shall own or
possess any real property in said city, a true statement of
such real property situated or located in such county or city,
and such real property shall be valued and assessed by said