240 LAWS OF MARYLAND.

of banks and other corporations in this State, shall apply to
the assessment of said stock debt of the city of Baltimore; and
the State Tax Commissioner shall report the assessed value of
said stock debt of the city of Baltimore, and the value of the
stock debt of the State assessed as provided in section 109, to
the Comptroller; and in the settlement of the State taxes upon
the shares of capital stock of such corporation, the Comptroller
shall calculate the State tax on such shares of capital stock,
and also what would be the State tax on the said stock debts
of the State and city of Baltimore, so reported as aforesaid,
and the latter amount shall be allowed such corporation as a
credit on its bill for State taxes; and the State Tax Commis-
sioner shall also report the assessed value of said stock debt
of the city of Baltimore to the City Collector of Baltimore city,
and, in order to ascertain the city tax, payable on the shares
of capital stock of such corporation to the city of Baltimore,
the City Collector shall deduct from the assessed value of the
shares of stock of such corporation, taxable in the city of Bal-
timore, such proportion of the assessed value of said stock debt
of the city of Baltimore, so reported as aforesaid, as the shares
of stock of such corporation, taxable in the city of Baltimore,
bear to the total outstanding taxable shares of stock of such
corporation, and the city tax calculated upon the residue shall
be the true amount of taxes payable to the city of Baltimore on
shares of capital stock of such corporation; and in case of any
shares of any bank or other corporation of this State upon
which the State and county or city taxes are levied and paid,
or are payable, by such bank or other corporation, being owned
as aforesaid, by any corporation having a capital stock divided
into shares as an investment of any part of its capital or sur-
plus, the State Tax Commissioner, in assessing the shares of
such corporation, shall deduct the value, assessed according to
the laws of this State, of said shares of said bank or other cor-
poration of this State so owned and reported as aforesaid, from
the aggregate value of all the shares of such corporation, in
addition to and in the same manner as the assessed value of
real estate owned by such corporation is deducted under the
provisions of Section 159; but no credit shall be allowed under
this section to any such corporation by reason of any invest-
ments on which the taxes are not paid or payable as aforesaid;
nor by reason of the ownership by said corporation or corpora-
tions of the stock debt of the city of Baltimore issued after
April 3, 1906, under the loans authorized by chapters 274, 338
and 349 of the Acts of the General Assembly of Maryland for
1904, known as the "Annex, " "Park Extensions" and "Sewer
Loans, " respectively, or any other loans that may have been