734 LAWS OF MARYLAND. [CH. 225

such bank or other incorporated institution or joint stock com-
pany shall own or possess any real property, and to the Appeal
Tax Court of Baltimore City, if such, bank or other incor-
porated institution or joint stock company shall own or possess
any real property in said city, a true statement of such real
property, situate or located in such county or city, and the
president or other proper officer of every fire and life insurance
company incorporated under the laws of this State and doing
business therein shall also furnish to the County Commission-
ers of each county in which it shall have any mortgages on
real or leasehold property, and to the Appeal Tax Court of
Baltimore City in which it shall have any mortgages on real or
leasehold property in such county or city, a, list of such mort-
gages showing the amount then due thereon, and such real
property shall be valued and assessed by said County Com-
missioners and Appeal Tax Court respectively, to the said bank
or incorporative institution or joint stock company so owning
the same, and the said County Commissioners and Appeal
Tax Court shall give duplicate certificates of such valuation
and assessment, and of the amount shown to be due on mort-
gage by such list, to such president or other officer, who shall
transmit one of such duplicate certificates with his return to
the State Tax Commissioner, and State, county and city taxes
shall be levied upon and paid by such bank or other incorpo-
rated institution or by such joint stock company on such assess-
ment in the same manner as the same are levied upon and paid
by individual owners of real property, in such county or city;
the respective taxable value of the shares of stock in such bank,
corporation and joint stock companies, save the taxable value
of the shares of the stock of fire and life insurance companies
incorporated under the laws of this State and doing business
therein, shall be ascertained by the State Tax Commissioner
in the manner following: He shall deduct the assessed value
of such real property belonging to the said respective banks,
corporations or joint stock companies from the aggregate value
of all shares of such respective banks, corporations or joint
stock companies and divide the remainder by the number of
shares of the capital stock or shares of such respective banks,
corporations or joint stock companies and the quotient shall be
the taxable value of each of such respective shares for State
purposes; in the case of fire and life insurance companies
incorporated under the laws of this State and doing business
therein, the taxable value of the shares of the stock thereof
shall be ascertained by State Tax Commissioner in the follow-