LLOYD LOWNDES, ESQUIRE, GOVERNOR.

railroads situated, being and lying in this State, for the pur-
pose of county and city taxation, shall be valued, assessed and
taxed to the said railroads owning, hiring, using and leasing
the same, as other personal property is valued, assessed and
taxed under the provisions of this act; and for the purpose
of such valuation, assessment and taxation, the situs of said
rolling stock shall be taken and considered to be in the assess-
ment district in which is located the principal places of busi-
ness of such railroad companies located in this State, unless
it shall appear that the situs of such rolling stock is in some
other city or county of this State than that in which the prin-
cipal place of business of said railroad is located in this State.
Provided, that whenever the said railroads owning, luring or
leasing said rolling stock shall extend beyond the limits of this
State into any other State or States, the assessors or other tax
officials whose duty it shall be to assess said rolling stock under
the provisions of this section, shall observe the following rule
in ascertaining the assessable value of said rolling stock; that
is to say, the value of said rolling stock for the purposes of
taxation shall bear the same proportion to. the total value of
said rolling stock which the mileage of said railroad in Mary-
land bears to its total mileage; this proviso is not to apply to
such rolling stock as is permanently located within the limits
of this State. In valuing the stock or shares in any bank,
company, association or corporation, the number of shares of
such stock in such bank, company, association or corporation
owned by the persons to whom the same are valued shall be
Btated, together with the respective taxable value of each, as
ascertained by the State Tax Commissioner. In valuing bonds,
securities and other investments, the nature of such bonds,
securities and other investments shall be briefly stated with
the respective values of each. In valuing and assessing any
property in this State not exempted from taxation under the
laws thereof which is not specifically mentioned in this article,
the method pursued shall be that prescribed by the laws of
this State which are applicable to such property and are in
force where such valuation is made.

175

179. Whenever the said assessors prior to the filing of their,
returns as hereinafter provided, shall discover or receive cred-
ible information or have reason to believe that any real or per-
sonal property has been omitted in the assessment of property
in the respective assessment districts, and has not been
scheduled and assessed, or that any person, company or corpo-
ration has from any cause omitted to list the whole or any

Omitted
property.