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and the amount of such bonus tax shall be deposited with the
State Tax Commissioner, in cash or in such other form as shall
be acceptable to him, when the certificate of incorporation, or
the articles of amendment increasing the capital stock, are
filed, who shall account quarterly therefor to the Comptroller
and pay the same forthwith to the State Treasurer for the use
of the State.

SEC. 88-B. All corporations having a capital stock, shall,
for the purpose of this Act, be ordinary business corporations,
and are hereby so defined, except railroad companies whose
roads are worked by steam, electric or other power, street and
passenger railways, steamship and steamboat companies, and
all other common carriers, telegraph, cable, telephone, express,
transportation, parlor car, sleeping car, and. oil pipe com-
panies, turnpike companies, bridge companies and sewerage
disposal companies, safe deposit and trust companies, guaran-
tee and fidelity companies, insurance companies of all binds,
electric light, electric construction, heating, refrigerating,
water and. gas companies, building or homestead associations,
State, national and savings banks, or savings or moneyed in-
stitutions. Every ordinary business corporation created or
to be created under the laws of this State shall from. and after
the expiration of the year 1914 be exempt from taxation on
its shares, nor shall its shares be assessed or valued, for the
purpose of taxation in the hands of the holders thereof.

SEC. 88-C. Every ordinary business corporation shall be
subject to taxation upon its property, real and personal, which
would be taxable in this State if such corporation were a na-
tural person and engaged in a similar business, and the taxes
thereon shall be levied, assessed and collectible in the follow-
ing manner and not otherwise: On all real property the
taxes shall be levied and assessed, and shall be payable at its
situs, as now provided by law. All personal property of such
corporations, exclusive of bonds, shares of stock and securities
as enumerated in article 81, Section 2] 4: of the Code of Public
Civil Laws (1912) and property which by law is exempt from
taxation, and exclusive of manufacturing plants situated in
any city or county in which by law or ordinance manufactur-
ing plants are exempt from county or municipal taxation shall
be valued and assessed by the State Tax Commissioner or any
State officer or officers who may be authorized to exercise the
functions now or formerly exercised by the State Tax Com-
missioner, and when so valued, the whole personal assessment