LLOYD LOWNDES, ESQUIRE, GOVERNOR. 331

holders of said stock who may be exempt from taxation on said
stock, and shall, on or before the first day of September, an-
nually deliver one copy of the said list,.as corrected by them, to
the City Register, and one copy thereof to the State Comp-
troller, setting forth distinctly in said copies the assessed value
of the stock mentioned therein.

153. The City Register shall retain from the interest paid
on the several City loans to the holders thereof, included in the
said corrected list returned to him by the said Court, the State
tax imposed for the current year on such loans by the Code of
Public General Laws. He shall make such deductions from
the installments of interest payable respectively on the first
days of May, July and September, and he shall, as soon as
practicable after the first day of September of each year, pay
over such State tax to the State Comptroller.

154. If the City Register shall at any time fail to make out
and deliver to the said Court the lists of holders of the said
stock loans as herein required, it shall be the duty of the said
Court to ascertain in such manner as they may deem most ac-
curate the amount of said stock loans of the City of Baltimore
outstanding on the first day of May, July and September in
the year in which such failure or refusal shall take place, and
on or before the first day of September in said year make and
deliver one copy of a statement certified by them, showing
the amount of said stock so ascertained by them, and its
assessed value, to the City Register, and one copy thereof to
the State Comptroller; and the City Register shall thereupon
pay the tax aforesaid, which he is in section 153 of this Article
directed to deduct from the interest payable on said loans; but
the City Register shall not be required to set apart and pay
over the said tax on any part of said stock loans which he may
satisfy the State Comptroller by a certificate to that effect,
signed by the said Court, or by other satisfactory evidence, was
held on the first day of May, July and September in the year
for which the tax may become due, and by any person en-
titled under the laws of this State to hold the same free from
taxation.