ALBERT C. RITCHIE, GOVERNOR.                  693-

Every such corporation which has no part of its capital stock
issued, subscribed for or outstanding on the first day of the pre-
ceding January, shall pay for such franchise an annual tax of
ten dollars ($10).

For purposes of this section, stock without par value shall
be treated as if it were of the par value of one hundred dollars*
per share.

138. The State Tax Commission shall annually on or before the
first day of June ascertain and certify the amount of each such
tax to the Comptroller who shall forthwith transmit to such corpo-
rations a bill for the amount of the franchise tax, and such tax.
shall be payable to the Treasurer without interest at any time*
on or before August first of such year, provided the account is
mailed on or before July first; and if the account shall not be
mailed until after July first, the same shall be payable without
interest at any time within thirty days after the mailing of the
account. All corporation franchise taxes not paid on or before
August first, or within thirty days after the mailing of the
account, as above provided shall thereafter bear interest at the
rate of one-half of one per cent for each month or fraction of a
month; if such tax shall not be paid before the first day of De-
cember following, a penalty of five per cent on the amount thereof
shall be added.

SEC. 2. And be it further enacted, That this Act shall take
effect on June 1, 1931.

Approved April 17, 1931.

CHAPTER 263.

AN ACT to repeal and re-enact, with amendments, Paragraph*
26A of Section 6, Article 4 of the Public Local Laws of
Maryland (1927 and 1930 Editions), title "Baltimore
City, " sub-title "General Powers, " sub-heading "Streets?
Bridges and Highways, " eliminating the provision making
said paragraph applicable to property adjacent to Baltimore
City in the opening, extending, widening, straightening or
closing streets within the limits of said city.

(Vetoed. )