1904, art. 81, sec. 205. 1896, ch. 120, sec. 2.

209. This Article shall not in any manner affect the gross receipts taxes levied on corporations for the year eighteen hundred and ninety-six or any preceding year or the valuation of property made or existing for the purpose of State, county or municipal taxation in the year eighteen hundred and ninetysix, or the collection of taxes levied thereon in said year or in any preceding year, and such valuation and assessment for said year eighteen hundred and ninety-six may be increased or diminished and omitted property be valued and assessed to the owner thereof during such year for such purposes under the provisions of the general laws of this State in force on the first day of January, eighteen hundred and ninety-six; provided, however, that nothing in this article contained shall be construed to repeal, alter or affect the provisions of Section 4 of Article 4 of the Public Local Laws of Baltimore City, in so far as the same relate to the mode and measure of assessing and taxing the real and personal property within the present limits of the territory annexed to Baltimore City under the Annexation Act of 1888, Chapter 98, for city purposes; and provided further, however, that nothing in this Article contained shall be held to discharge or release, impair or affect any irrepealable contract or obligation of any kind whatsoever existing on the 30th day of March, 1896, or to affect or to apply to any pending civil suit, action or proceeding, or to any pending prosecution for a crime or misdemeanor, or to prevent the prosecution and punishment hereafter of any offense already committed, or that may be hereafter committed, against the provisions, or any of them, of Article 81 of the Code of Public General Laws, title "Revenue and Taxes," as the same existed on the said 30th day of March, 1896, and wherever the words "City Court of Baltimore" occur in this Article they shall be construed to mean the Baltimore City Court.

1904, art. 81, sec. 206. 1896, ch. 142, sec. 198.

210. The lists provided to be furnished by the taxpayer to the assessors, and by them returned to the boards of control and review of Baltimore City and the boards of County Commissioners of the several counties of this State, under the pro

visions of the Act of 1896, Chapter 120, acting as boards of control and review shall, by the said assessors and the said respective boards of control and review be safely kept and the same shall not be disclosed to any person other than a tax or assessment official; nor shall any copies be permitted to be made unless in case of an appeal from said assessment by the taxpayer or a revision thereof be ordered by the proper judicial authorities as provided in this Article. And any assessor member of a board of control and review, or County Commissioner acting as a member of a board of control and review who shall violate this provision or permit the same to be violated shall be deemed guilty of a misdemeanor, and upon indictment and conviction shall be fined not less than fifty nor more than five hundred dollars, in the discretion of the Court; provided that nothing in this section shall prohibit the clerks of the County Commissioners of the several counties, and clerks of the Appeal Tax Court of Baltimore City from giving the assessment and valuation of real estate to parties having the right to demand the same.

1904, art. 81, sec. 207. 1896, ch. 140, sec. 198. 1916, ch. 226.

211. The provisions of this article shall not apply to the shares of homestead or building associations incorporated under the laws of the State to the extent that such shares represent investments in cash, fixtures, loans on hypothecated stock, judgments, decrees and mortgages on real or leasehold estate.

Ibid. sec. 208. 1896, ch. 140, sec. 199.

212. For the purposes of county and municipal taxation, the total assessment and valuation of rolling stock of railroad companies made in the assessment district in which is the legal situs of said rolling stock, as defined by Section 202, shall be divided among the counties and the City of Baltimore in proportion to the mileage of the railroads located in such counties and city, respectively, and the provisions of Section 202 in so far as the same are in conflict with the provisions of this section are hereby expressly repealed, and for the purpose of making the apportionment and division aforesaid of said rolling stock mentioned in Section 202 according to such mileage, the

several boards of control and review of the respective counties and of the City of Baltimore shall, as soon as they shall have completed the assessment thereof, report to the State Tax Commissioner the total assessment or valuation of the rolling stock of said railroad companies, so made in their respective counties and in said city, and the assessment district in which is the situs of said rolling stock, as defined by said Section 202, and the said Tax Commissioner shall thereupon forthwith make the apportionment or division aforesaid of such total valuation among the several counties and the City of Baltimore according to the mileage therein, respectively, of such railroads, and after having made such apportionment or division thereof, he shall certify to the respective boards of County Commissioners of the several counties and to the Appeal Tax Court of Baltimore City, the amount of the proportion of the valuation of such rolling stock to which each such county or the said city is so entitled; and such proportions, respectively, shall thereafter be valued and assessed for purposes of taxation in such respective counties or said city, subject to the right of appeal as in other cases in this Article.

1904, art. 81, sec. 209. 1896, ch. 140, sec. 200.

213. It shall be lawful for any railroad company or other corporation, in executing a mortgage on property located in this State, for the purpose of securing the payment of bonds issued by such corporation, to covenant in such mortgage to pay the taxes levied upon such mortgage, or the bonds secured thereby, or on the interest payable thereon; and in such cases the oath prescribed in Section 190 shall not be required; provided, however, that nothing contained in this section shall be held or construed to waive, release or otherwise interfere with the valuation and assessment, for purposes of taxation, of any bonds, secured by such mortgage, in the hands of the holders thereof, resident in this State, respectively, as directed in the case of other bonds of this Article.

1904, art. 81, sec. 210. 1896, ch. 120, sec, 194. 1896, ch. 143, sec. 201. 1914, ch. 411, sec. 214.

214. All bonds, certificates of indebtedness or evidence of debt in whatsoever form made or issued by any public or pri

vate corporation incorporated by this State, or any other State, territory, district or foreign country, or issued by any State (except the State of Maryland), territory, district or foreign country not exempt from taxation by the laws of this State, and owned by residents of Maryland, shall be subject to valuation and assessment to the owners thereof in the county or city in which such owners may respectively reside, and they shall be assessed at their actual value in the market, and such upon which no interest shall be actually paid shall not be valued at all, and upon such valuation the regular rate of taxation for State purposes, but in no event more than fifteen cents on each one hundred dollars, shall be paid, and there shall also be paid on such valuation thirty cents and no more on each one hundred dollars for county, city and municipal taxation in such county or city of this State in which the owner may reside. All shares of stock or shares in any bank other than a national bank, or in any company or corporation incorporated by or located in and doing business in any other State, or District of Columbia, or in any territory or foreign country owned by resi dents of this State, shall be valued and assessed for the purpose of State, county and municipal taxation to the owners thereof in the county or city in which such owners may reside, and said shares shall be assessed and valued at their actual value in the market, and those upon which no dividend shall be actually paid shall not be valued at all, and upon the valuation so made the regular rate of taxation for State purposes, but in no event more than fifteen cents on each one hundred dollars, shall be paid, and there shall also be paid on such valuation thirty cents, and no more, on each one hundred dol lars for county, city and municipal taxation in such county or city of this State in which the owners may reside.*

See Frederick Co. vs. Frederick City, 88 Md. 655, as to division of amount collected as between county and incorporated towns. See Wilkins Co. vs. Mayor and City Council of Baltimore, 103 Md. 293, as to the principal that taxation of shareholders on their shares in non-resident corporations, where the latter's property actually in the State is assessed and taxed at full State and local rates, is not in violation of the constitutional guarantees against double taxation, etc. As to the tax on bonds of domestic companies, see Musgrove vs. B. & O. R. R., 111 Md. 629, 635. Until the amendment of 1914 the full State rate was assessed against the properties mentioned in the above section, but the Act of 1914 made the tax for State purposes a fixed rate, as is the local rate.

The amendment

1904, art. 81, sec. 11. 1902, ch. 486, sec. 221.

215. All bonds, certificates of indebtedness or evidence of debt, in whatsoever form, made or issued by any public or private corporation incorporated by this State or any other State, territory, district or foreign country, or issued by any State, territory, district or foreign country, and all personal property of any kind whatsoever not exempt from taxation by the laws of this State, in which any resident of any county of this State has an equitable interest, with the legal title to the same in some other person or corporation who is a resident of some other county of this State or of the City of Baltimore, or (in the case of a corporation) which has its main office or principal place of business in some other county in this State or in the City of Baltimore, shall be valued and assessed for the purposes of State and county taxation to the equitable owner thereof in the county in which he or she resides, to the extent of his or her equitable interest as aforesaid, and the taxes due thereon shall be paid by the holder of said legal title to the collector of taxes for the county or city in which said property is so valued and assessed. All provisions of this section, when they shall become operative, shall repeal all laws or parts of laws, inconsistent herewith, to the extent of such inconsistency.*

1904, art. 81, sec. 212. 1888, art. 81, sec. 155. 1896, ch. 120, sec. 2 1896, ch. 143, sec. 202.

216. No extra assessment shall be made, and no extra or special tax shall be levied or collected on any bridge or bridges over streams or any tunnel forming any part of the roadway of any railroad or railroads or turnpike in this State, it being the meaning and intent of this section that any bridge over streams or any tunnel forming a portion of the roadway of any of said railroads or turnpikes shall be valued and assessed at

does not affect the taxes for the year 1914 or any year prior thereto, for the Act of 1914, carries with it a supplementary provision, which is not inserted, but which prevents the operation of the Act upon any assessment for the year 1914 or any prior year. Bonds secured upon property located in Maryland are taxable under this and the second section in the hands of a resident as against the resident, the same not being a tax on the corporation. Consolidated Gas Co. vs. Baltimore, 101 Md. 541. Consolidated Gas Co. vs. Baltimore, 105 Md. 43.

* See section 4A of this Article, which exempts from taxation bonds, etc., issued by any public corporation incorporated by this State.