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THE ATLANTIAN 19 third full value. State assessment is limited. It reaches only the excess of capital stock value over the value of tangible property of domestic corpora tion and the value of certain physical property of railroads. Of the prop- erity assessed by the State, the equal ized value of “main track" “rolling stock” and excess of capital stock of railroads, and also the excess of tele graph companies, are distributed on the mileage basis to the counties through which the routes pass. The tangible property of all corporations other than railroads is assessed local ly. Original lines of the Illinois Cen tral Railroad are taxed by the State for the State purposes on gross re ceipts and property. Shares of stock in domestic corporations are exempt. Shares of stock for foreign corpora tions are taxed to the holder when the property is not taxed in the State. Bonds of foreign and domestic corpo rations are taxed to the holder. Of the total collected from corporations in 1910 (about $3,000,000) railroads paid approximately $1,800,000, or 64 per cent., and insurance cmpanies $459,- 323, or 16 per cent. Collections un der the capital stock tax, including about $10,400 from railroads, amount ed to less than $135,000. Michigan’s total revenue from taxa tion in 1910 was nearly $12,000,000. Of this amount 45 per cent, was from corporations. The important corpora tion tax in Michigan is the State-ad ministered ad valorem tax. It is levied at the average rate of taxation and applies to railroads, telegraph, tele phones, express, and car companies. Other State taxes on corporations, though comparatively unimportant, are levied at specified rates upon the paid-up capital stock of canal and riv er improvement companies and upon the net profits of plank and gravel rad companies. Taxation by any of these methoods is, in Michigan, de nominated by statute "specific taxa tion.” Revenue therefrom is, by con stitutional provision, applied to the primary school fund only. Revenue for support of the State is from the general property tax. Double taxa tion has been Judicially declared un constitutional. Where the corporate property is taxed shares are exempt. Specific taxation is in lieu of other taxes on property used in the opera- ton of corporate franchises. Michigan was the first to value all railroad property within the State ac cording to the “inventory method sup plemented by a consideration of the effective earning capacity.” Probably the physical valuation of railroad property for taxation purposes had never before been attempted on qo large a scale. Taxes .collected from railroads in 1910 amounted to about $4,400,000 (37 per cent, of the total State revenue from taxation), insur ance companies over $480,000, tele phone companies $324,000, other cor porations about $183,000, and the gen eral property tax something over $6,000,000. Of the total State tax receipts of Wisconsin in 1910 (nearly $6,000,000), 71 per cent, was from general prop ATLANTA BAGGAGE & CAB CO. ESTABLISHED 1865 BONDED AGENTS OF ALL RAILROADS TELEPHONES: Main 204-205-260-10004500 Railroad, Passenger and Baggage Trans fer Largest and finest equip ment in the South NICE CABS ON CALL AT ALL HOURS Baggage Checked Direct from your residence to destination. Baggage Transferred from one part of the city to another. When ticket is purchased request ticket agent to check your bag gage from hotel or residence direct to destination. OFFICES AND AGENTS AT 80TH STATIONS. AGENTS ON ALL INCOMING TRAINS. W. C. WILSON, A. N. COOK, President and Gen*l Mgr. Supt. Pass. Dept. I J.PALLEN&C0 51-53 Whitehall St. Womens and Misses Ready to Wear Garments, Millinery and Shoes. New Fall Models in every depart ment now ready. erty, and 5 per cent, was from inheri tances. There is a tendency toward separation of sources of taxation. In come from special sources is general ly sufficient for ordinary State ex penses without resort to the general property tax. At present, the support of schools and the building of a new statehouse occasion the only State levies on general property. Peculiar to Wisconsin is the fixing, by statute, at the State capitol, of the legal situs (for purposes of taxation) of all real and personal property of corporations subject to the State ad valorem tax. The rate is the average rate of taxa tion and is in lieu of all other taxes on property necessary to the operation of the corporate franchise. Following the example of Michigan, Wisconsin annually values the physical property of railroads. This is done under the direction of competent engineers. In Michigan the original valuation was made by the State; in Wisconsin, largely by the railroads and verified by the State. The physical valuation, together with the average market prices- of the securities, forms the basis for determining as an entirety the true value of each steam and street railroad within the State. Administration is exceptionally cen tralized. County supervisors are un der the direct control of the State Tax Commission. These supervisors direct the attention of county boards to omitted or undervalued property, and they have power to cause the re moval of local assessors. Local as sessments, however, can not be chang ed by the tax commission, except up on appeal. In 1-910 there was received by the State from ralroads about $3,200,000, from insurance companies about $725, 000, from various other classes of cor porations $168,000, and from incorpora tion fees $95,000. Total State tax re ceipts were nearly $6,000,000. J. L. BURNETT. Better Known as “Uncle Jim,” Prominent in Secret and Fra ternal Orders and a Good Friend of Labor—His Motto- • “Better Be Safe Than Sorry.”