dends made or declared do not amount to six per centum upon the par value of said capital stock, then the tax to be at the rate of three mills upon each dollar of a valuation of the said capital stock, made in accordance with the provisions of the first section of this act; and in case any such company or association shall have more than one kind of capital stock, as for instance, common and preferred stock, and upon one of said stocks a dividend or dividends amounting to six or more than six per centum upon the par value thereof has been made or declared, and upon the other no dividend has been made or declared or the dividend or dividends made or declared thereon amount to less than six per centum upon the par value thereof, then the tax shall be at the rate of one half mill for each one per centum of dividend made or declared upon the capital stock upon the par value of which the dividend or dividends made or declared amount to six or more than six per centum, and in addition thereto tax shall be charged at the rate of three mills upon each dollar of a valuation, made also in accordance with the provisions of the first section of this act, of the capital stock upon which no dividend was made or declared or upon the par value of which the dividend or dividends made or declared did not amount to six per centum.

That it shall be the duty of the treasurer or other officer having charge of any company or association, upon which a tax is imposed by the third section of this act, to transmit the amount of said tax to the treasury of the Commonwealth, within fifteen days from the thirty-first day of December in each and every year; and if any company or association shall

neglect or refuse to pay the tax herein before required to be paid, the directors, managers, or treasurer thereof, for the time being, shall be jointly and severally liable in their individual capacity for the payment thereof, and the same may be sued for and recovered under the direction of the State Treasurer as other debts of like amount due the Commonwealth are recoverable: Provided, That the remedy against the directors, managers, or treasurer, in their individual capacity, shall not prevent the Commonwealth from proceeding against the corporation by any process provided by law.

That every railroad company, canal company, steamboat company, slack-water navigation company, transportation company, street passenger railway company, and every other company now or hereafter incorporated by or under any law of this Commonwealth, or now or hereafter incorporated by any other State, and doing business in this Commonwealth, and owning, operating, or leasing to or from another corporation or company any railroad, canal, slack-water navigation, or street passenger railway or other device for the transportation of freight or pas sengers, or in any way engaged in the business of transporting freight or passengers, and every telegraph company incorporated under the laws of this or any other State and doing business in this Commonwealth, and every express company, and any palace car and sleeping car company, incorporated or unincorporated, doing business in this Commonwealth, shall pay to the State Treasurer for the use of the Commonwealth, a tax of eight tenths of one per cent. upon the gross receipts of said company for tolls and transportation, telegraph business, or express busi

ness; the said tax shall be paid semi-annually upon the first days of July and January in each year, the first payment to be due on the first day of July, Anno Domini one thousand eight hundred and seventy-seven; and for the purpose of ascertaining the amount of the same, it shall be the duty of the treasurer, or other proper officer of said company, to transmit to the Auditor General a statement, under oath or affirmation, of the amount of gross receipts of the said company, derived from all sources during the preceding six months; and if any such company shall neglect or refuse for a period of thirty days after such tax becomes due, to make said returns or to pay the same, the amount thereof with an addition of ten per centum thereto, shall be collected for the use of the Commonwealth as other taxes are recoverable by law from said companies: Provided, That whenever any corporation or company, liable to a tax on gross receipts under the provisions of this section, possesses and exercises the right to mine or purchase and sell coal, the receipts derived purely from the sale of coal so mined or purchased by said company shall not be taxed, but every such company shall keep an account of the said coal and in the said account shall charge itself with the transportation thereof, at the same rates as are charged or would be charged by the said company for the transportation of similar freight for other companies or individuals, and the sums so charged for transportation shall be returned by the said company to the Auditor General, and shall be taxed as a part of the gross receipts of said company: And provided further, That in any case where the works of one corporation or company are leased to and operated by another corporation or

company, the taxes imposed by this section shall be adjusted between the said corporation or companies, in accordance with the terms of their respective leases or agreements, but for the payment of the said taxes the Commonwealth shall first look to the corporation or company operating the works, and upon payment by the said company of a tax upon the entire receipts derived from the operation thereof, the corporation or company from which the said works are leased shall not be held liable under this section for any tax upon the proportion of said receipts received by it as rental for the use of said works.

That hereafter it shall be the duty of the president, secretary, or other proper officer of each and every insurance company or association, incorporated by or under any law of the Commonwealth, except companies doing business upon the purely mutual plan, without any capital stock or accumulated reserve, and purely mutual beneficial associations, whose fund for the benefit of members, their families or heirs, is made up entirely of the weekly or monthly contributions of their members and the accumulated interest thereon, to make report in writing to the Auditor General, semi-annually, upon the first days of July and January in each year, setting forth the entire amount of premiums received by such company or associaton during the preceding six months, whether the said premiums were received in money or in the form of notes, credits, or any other substitute for money; and every such company or association shall pay into the State treasury, at the dates aforesaid, a tax of eight tenths of one per centum upon the gross amount of said premium: Provided, That said report shall be made under oath of affir

mation, and that it shall be the duty of the accounting officers of the Commonwealth to add ten per centum to the account of any company or association whose officers shall neglect or refuse, for a period of thirty days, to make the said report or to pay into the State treasury the tax imposed by this section.

That the taxes imposed by the third section of this act and the revenues derived therefrom, shall be assigned to the sinking fund of this Commonwealth, and all other taxes imposed by this act, and the revenues derived therefrom, shall be applicable to the payment of the ordinary and current expenses of the government.

That this act shall go into effect immediately, and that all laws or parts of laws, inconsistent herewith, and the second, third, fourth, fifth, and sixth section of an act, entitled "An Act for the taxation of corporations," approved the twenty-fourth day of April, Anno Domini one thousand eight hundred and seventy-four, be and the same are hereby repealed, saving, reserving and excepting unto the Commonwealth the right to collect any taxes accrued or accruing under the said laws, parts of laws, and sections, or any of them, prior to the date of the approval of this act.