620 FIFFY-SEVENTH ooscmcss. sm. 1. cH. 1352. 1902. purpose of and transacting business within the District of Columbia, except those exempted by the laws relating to the District of Columbia, shall be appraised in bulk at its fair cash value by the board of rsonal-tax appraisers, and the corporation issuing the same shall be Eble for the tax thereon according to such value, and shall pay to the collector of taxes of the District of Columbia a sum epual to one and one-half per centum on the assessed valuation thereo ; but from the assessed valuation of such capital stock shall first be deducted the value of any and all real estate owned by such corporation in said District, which real estate shall be splparately taxed against said corporation: gpm Bwided, That nothin in is Act contains_ shall be construed to include newspaper, res estate, and mercantile companies, which by reason of incorporation receive no special franchise or privilege; but » all such co rations shall be rated, assessed, and taxed as individuals conductingrbiisiness in similar lines are 1'&tBd, assessed, and taxed. mf:“'““€ °°°°°*“‘ PAB. 9. Buildin associations shall pay to the collector of taxes of -` the District of Columbia four per centum per annum on their gross earnings for the preceding year ending June thirtieth. ‘E"°"‘*’“°‘"· PAR. 10. The following personal property shall be exempt from taxation. ‘ ""*“"‘“’““· First. The personal property of all library, benevolent, charitable and scientific institutions inco rated under the laws of the United States or of the District of Corlimbia and not conducted for private n. '*“"“'°’· °“`· gmSecond. Libraries, schoolbooks, wearing apparel, articles of personal adornment, all family portraits, and heir ooms. ¤¤¤¤•=¤<>¤¤ ¤¤¤•=¤· Third. Household and other belongin , not held for sale to the value of one thousand dollars, owned by 3e occulpant of any dwelling house or other lace of abode, in which such ousehold and other belongings may he located. · KBQM P°"°"‘l‘ Pau. 11. That said board of assistant assessors hereinbefore provided for, with the assessor of the District of Columbia as chairman, shall compose a board of personal—tax appeals, and as such board of personaltax appeals shall convene in a room to be provided therefor by the said assessor, on the fifteenth day of blovember in each year, and public notice of the time and place of such meeting shall be given by advertisement for two consecutive secular days in two daily newspapers D““°’ '“"l P°"°"· published in the District of Columbia. It shall be the duty of the board ’ of pers0nal—tax appeals, between the date of convening and December fifteenth of each year, to hear all appeals made by any person or personsagamst the assessments made by the board of personal -tax appraisers and to impartially equalize the value of said rsonal propert as a basis for assessment. Any four members of th); said board shall constitute a quorum for business, and in the absence of the assessor a temporary chairman shall be selected. They shall be empowered to diminish or increase such assessments as they may believe to have been returned at other than their true value to such amount as, in their opinion, may be the value thereof, and the action of said board in such cases shall be final. Said board of assistant assessors shall also perform such otherofficial duties as may be required of them by the assessor of the §Q{Q*g°,,°,, M me Districtof Columbia: Provided, That in casethe personal-tax appraisers for npprniscrv dudes. shall fail to complete any of the duties in this section to be by them performed within the time provided therefor the taxation rovided by this section shall not by reason thereof be invalid; but such) appraisers shall proceed with all reasonable diligence to complete such duties, and _ their acts shall be valid as 1f performed within the time fixed therefor. °""°"°“· If, at any time within any current year, property subject to taxation under the dprovisions of this section shall have been omitted from assessment, said board of personal-tax appraisers shall immediately proceed to assess the same for the then current year, giving notice in writing
