242 LAWS OF MARYLAND.

hundred and sixty-four, one hundred and sixty-five and one
hundred and sixty-six, shall not include any income derived
from the investment of the capital or surplus of any of the
corporations mentioned in said section, and in case of the use
of monies received or deposited, they shall include only the
difference between the receipts, earnings or revenues derived
from the use of such deposited monies, and the interest paid
on such deposits.

SEC. 2. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 6, 1908. -

CHAPTER 283.

AN ACT to repeal section 183 of article 81 of the Code of Pub-
lic General Laws of Maryland, 1904, as amended by chapter
794 of the Acts, of 1906, title "Revenue and Taxes, " sub-title
"Tax on Mortgages, " and re-enact the same with amendments.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That section 183 of article 81 of the Code of Public Gen-
eral Laws of Maryland, 1904, as was amended by chapter 794
of the Acts of 1906, title "Revenue and Taxes, " sub-title "Tax
on Mortgages, " be and the same is hereby repealed and re-
enacted so as to read as follows:

183. All mortgagees or assignees holding mortgages on real
estate of record in Worcester, Wicomico, Somerset, Carroll,
Howard, Montgomery, Frederick, Dorchester and Garrett coun-
ties shall annually pay a tax of eight per cent, upon the gross
amount of interest covenanted to be paid each year to the
mortgagee or his assignee by the mortgagor, to be collected by
the proper authorities as other taxes for county purposes in
said several above specially enumerated counties are collected;
all of such taxes collected in said several counties shall be
applied exclusively therein to county purposes, free, clear and
discharged from. any claim of the State or its fiscal officers;
and the tax hereby levied shall in each year be due and payable
in that one of the above named counties in which the mortgage
is recorded, and if any mortgage is recorded in two or more of
said above named counties, the tax hereby levied shall each
year be paid to the county wherein the greater portion of the
property covered by the mortgage is located. This section and
the five succeeding sections shall not apply to the remaining
counties nor to Baltimore city, as to which remaining counties
and city the mortgage tax levied by the Act of 1896, chapter