PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 283

shares of its capital stock and shall divide the remainder by the
number of shares of the capital stock or shares of such respective
fire insurance company incorporated under the laws of this State
and doing business therein, and the quotient shall be the tax-
able value of such respective shares of such fire insurance com-
pany for State purposes, and all State taxes thereon shall be
paid as provided now or hereafter by law, and when the valua-
tion and assessment of the shares of the capital stock or shares
of such banks, corporations or joint stock companies shall have
been finally determined or made for State purposes, the State
Tax Commissioner shall certify to the County Commissioners
of each County where any of the stockholders or shareholders
may reside, and to the Appeal Tax Court of Baltimore City, if
any of said stockholders or shareholders reside in said City,
and to the County Commissioners of the County in which such
bank, corporation or joint stock company is situated; or to the
Appeal Tax Court of Baltimore City, if it is situate in said
City, the assessed taxable value of such respective shares of
stocks, or shares so ascertained as aforesaid. And the said tax-
able value of such respective shares of stock or shares in such
banks, corporations or joint stock companies, owned by residents
of this State, and taxable within this State, shall for County or
municipal purposes be valued to the owner thereof in the Coun-
ty or City in this State in which such owners shall respectively
reside, and the said taxable value of such of said stock or shares
as are held by non-residents of this State shall for County and
municipal purposes be valued to the owners thereof in the
County or City in which said bank, corporation or joint stock
company is situated; but all County or municipal taxes assessed
upon said respective taxable value of such respective shares of
stock or shares shall be collected from such bank, corporation or
joint stock company, and when so paid shall or may be charged
by such bank, corporation, or joint stock company to the account
of such stockholders or shareholders, respectively; but it is
expressly provided that all railroad companies working their
roads by steam power incorporated by or under the laws of this
State, or any other State, Territory, District of Columbia or
foreign country and doing business in this State, shall respec-
tively be subject to the annual State tax upon their respective
gross receipts within the State, prescribed by Section 164, which
shall be paid and collected in a manner provided now or here-
after by law; and the real and personal taxable property be-
longing to such respective railroad companies shall be subject
to County and municipal taxation to this State, in the respec-