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    ~btt.c ,,f C!tLtlif,1rnht, @~i'cttth, .c ~h.'t,tLl1tnu'nt.

    \VHEREAS, The leg-islatnre of the StatP of ('alif'ornia. at its rcg-nlar session eornmen1ing on the 4th day of January, 1909, adopted a ri>solnticm proposin)! 1111 amendment to the eonstitution of tlw State of California, known as Senate Constitutional Amendmt'llt ~o. 1. l'ntitled ' A rPsolntion to propose to the people of the State of California an amendment to the or more cotmtit>s: "'ltt>ping car, dinini:- ciu. anil'ij, l't"frigerutor, oil. stock. fruit. und otht>r e,u-loaning 111111 otlwr car 1om111111it11 OJ)t"l'lltiug 111,on niilroiuls in this statl: eompnnies doing phoue com111111hs: tom-1umits eD!l'llgl'd iu till' t11111smissiou or salt of gas or Plt1 uml Joun societits. nud trust tom111111i,11: nrnl t11x1s 111mn nil fr1111-chis1i,; of 1nr,1 kiwi 111111 1111tur1, shull Ut Plltirll,1 nml 1xcJu,,ilely for state 1mr1msl's, and shall he lt1ied, usst>sst'll nmi cted in th1 mu1111Pr hl'1'1i1111fttr prmided. Tiw word "co111111mh1' 111< used in thi1< ,..-.. tion shall indud .. lll'l'sons, 1u1rtmrships, joint 1,1tock nssodutious. co1111111ni .. ,., null t111pora tions.

    l 11) All l'llihond com: ,auies. indmliul:' strl't>t r11ihn1y11, \\"Uethl'r 011tntted in one ,,r 111or1 touuri,s: 1111 slttpiug c111, dining car. drawing-room cur co1111u111iti;, 1111 refrig11r11tor. oil. 11tock. fruit nnd olill'r c111-lo1111i11g 11111,1, OJIPl'ating upon the rnilroads in this lltat,: 1111 rom1ianies doing exprt>ss busine11S on uuy ruilroad, 14tt11mbo1tt, ,essel or stage line iu thili stute; all tell'graph und telephone companies; and all companies engugecl in the tmns1ni&11ion or

    . ~1,.or f?U1 sir eiectriciJYe.lf~II aJU)IU~Uy pay tu t;be state a tu .... ,:f.r,~~l.t,: .. ,i ~l:cl~il~r;rijl@~f;.D>l!~ 11~--

    'l'his tax shall be in lieu of all other taxes and licenses, state, county and municipal, upon such shares of stock and upon the property of such banks. except county and municipal taxes on real estate and except ns otherwise in this section provided. In determining the value of the capital stock of any bank tht>re shall be deducted from the rnlut>, as defined above, the valm, as asst>ssed for county taxes, of any reul estate other than mortgage interests thert>in. owned by such bank and taxed for touuty purposes. The banks shall be liable to the state for this tux and the same shall be paid to the state by them on behalf of the stockholders in the manner and at the time prl'scriht>d by law. and they shall haw a lien upon the shares of i;otock nnd upon any dividends declarl'1, age11ci1s, or other r1pr11,enrativl's of any hanks 1loini: busimss outsidt of till' 8rnte of Culifornia, slrnll ht> lik,-wis, nssPssl'tl 1111d ti1x1d to such hanks 01 hunkers hy thf' said hour! of 111u111izatio11. in tilt' nurnuer to bl' provided hy law. uud tmwd nt the 1,111m1 rntl thut is l11it>d upon th, 1ihare11 of 1upitul stuck of i11cor1)0rut1d bunks. us 1>rmided in tht> finit 1111rugra1ih of thi11 s11hdhisio11. 'l'bl' rnlue of said Jll'OJ1t>rty shnll b, 1ltt11mi1wd b) taking tht> 111tirt !H'O!J'llt'b h11si111ss, togPtlwr wil h nil thl' l'l'Sl'rl't>, sur1,ius, und :ul(livid1''t' in this stl'tion 11rol'id11l. It is tlw int .. ution of this 1111r11i:rn11h thnt nil momy1d eupitul aucl pr111111tr of the h1111k>' anti l11mkl'I's 111,ntio111d in thi" parm:raph shnll h, !Iii """""'' 1111d rux1t1111iui11g tht v11h11. of till' mumyed cupitul 11ml IH'OJ11.1tr of tiw hunks 1111tl hankers nt>ntionl'rl in this subdivisiou, the said st11tP bourtl of l'lllllllizntiou shull include 1111d 11ss,SM to such hunks nil 1iro11erty und l'\'erytbing of vnlue owm'

  • artidt ,l,ic11 then-of. u/1 rl'iati11t1 to 1111111w 1rnd ta.imtiun.

    \V11EREA8, It h1 11., .. m, .. 1 ,ltsirnhle to sPpnratt th, sourees of r,,ntlf' for 11tah pnrpo,-,s from tht> sourt'1.s of revenue for count\" 11111! munieipnl p11rpo>11s: now. th1rpfo11,

    Th;, ltgi,il11tur, of th, ~tnt, of f 'nlifornin, at its xlr~or-dinn ry l'lt'HHinn, 1omm,1H'i n.: ou t 11 .. third dny of Oetober. nuw-t,~n tmndr,,t 1111,I t,n. two thirds of nil th, 11umh1r-s t'fp flt'l'sons. p11rt1lt'rships. joint-stock H'."-Sot.intions. cn1npanit1~. and c.'ul'}>o1~nio11s.

    (11) .\II railroad tompaniPs. inl'ltulini:- strPPt rail\\':t,\'S. whPtlwr 0111mtt'd in ont' or mor1 tounti.-s: all sltPJJilll! cal'. dininir cur. drnwinir-room ear. and 11al:H'" ear com1mnits. nll rPfri;rt>rato1. oil. stoek. fruit and othl'r tar-lonuing and otlwr ear ,ompanits. o(>s proportion of t hP mi !Pa.:I' eonstrued to r,lt>as, nn,I' sueh company from till' 1111ynwnt of nuy umrnrnt a1,:r1t>d ro hP puid or nquirtI l,y law to lw pnitl for nn,, sp,,ial privikc:. or franchi~. i:-rnut,d hy any of tlw 1111111idpal nuthoriti,s of this state.

    ( b) ]1~\'t'l'Y i11s11rat1l'P c.01npnny or nssot"intion doiu:.: ln1sit1ts~ in this slntP ;;hall :11111111111.1 puy to thP stntP II tax of 011, 111H] om half per C'tnt upon th, amnttllt 11f th, gross [ll'Plllinms l'P(IPh'Pd lllJOll its hnsillt'SS dOllt' iu thi~ !"it:tlt'. lt~s rt"t\ll"ll pl't'" minms 1111d r1ins11111111~, in ,11111paui,s or 11,.;so1intions nnthori;w,1 to do husinPss iu thi>< ,.;tat,: ,,,.,,,.;,/, d. 1/int th,rt ,;hull lw deducted from 88 id Olli' 1111(1 Olli' ha) f (lt'I' {'t'II t ll()UII t }It' l,l'l'UtlS pr', or of llllJ' otlwr state and located in this state, shall ht> nsst'ss .. ,t and tax,,! 10 the owners or holders thereof hr the state hoard of P' It,\ tilt' snirl ho11rd of 1qt111liwti1111, in th, mann,.r !tl bl' Jrovid,d h.1 lnw, und tnxed nr th, >111111" I'll!!' that is h\'iP,} upon th, shnr,s u,f enpitnl s10,k nf i11i,.1rpurt1fl'd 1,nuks, as provie),.,J in tit" til'!!t pnrngrnJ,h 11f I lti>< suhdi\'i,iion. Tiu ,nlnP of ,mid pro111rt,\' ,drnll hi' d,>1,r111i11,.,I Ii,\ takin.: th, 1ntirl' prn11cl pro tit,., 11 t 11t .. ir ftt II t'a"h \'ltlllP, 1111! ns,;es,rwis, in this sP1tio11 1110,id,.,I. It is th" i11t1ntion of thi" 1mr:t;Iraph that nil moneyt>d eapital 11111! Jll'O\lPl't,, of the hanks and hn11k1rs 111,miolld bank. p10,id,,I for in th, tirst p:tr:t;Iraplt of this sul,.li\'h of th, monp~p(! capital Hild pro1urty of tlw hanks an,! liankPl'S nwutio1w,l in this subdil'isio". tlw said stntt hoartl of Pqtmlizntion shall illl'lnd, and 1tss .. ~s to such hank;; nil 1,rop,rty and e1erything of n1lue trnwd or lll'l tl11ss,s of propPrty .. 11nn11rnt,cl iu this Sl'l'tiou, snHiciPnt to lllt'l'f t 111 dPfieiP1H.,. .\II 1110111rty ,num .. rntPd in s11hdhisio11" 11. I,. 111111 ,/ of this si

    \1()4 ~hue bereAct ~,pr.o.yj4ftd .by lnw.

  • - _____ ...,,.,,,.,,...'Tl'r;,--7,;,:-;":-:;';'iTi77;'.;-;7!'",17,':"117ii:::7";;"-;;7iT,;7,"'-;--;-;T::--:~~-;7:-"7i;;-~:r~,~'~"':-r 1'ii:1rr in, 111 '".', ... !.if,, :1J1J,li1'! 11., tii- ...:ra1, 10 uu l1"1"l'i ll'lt u! f w 11111,;1;..:i \\ ;rliin t~1i, i'('tion :-ili:ill \11 ~11!,j.-,1 f1, t11xn li111, two 111r ,,11t: 1111 1111 t,.J,.i:rnph 1111.J t,.l,phorw 1o111pa11io~. ,i,, 11 . ;11 tli, 111 :, 111 ,,, 1, 1,r111id,d h.1 lnw. t" pa,, th, pl'itl1,d11,,, shall h, Slld ~tatP>'. 01 of any otlwr stntP and locn terl iu this stat!'. ~1,ull Ju as,;Pssf'd and tm.i,l to t:ie owners or hollil'l's thPr,of by tlw state board of ,qualizatiou. i'n thP !11:lllih'I' to Ju, prPscl'ilwd by law. in tlw l'ir; or town wher, th, hank i>' locn ted nnd not PlsP\\herP. Then' shall lw Ievil'd nm! ns,.:ps,.:,,,i uvon st1d protit:s. ThP \'1lh1 of ('nch sharp of sto of the HtatP of al of the State of ('alifornia at my offil'e in tlw State Capitol. this 28th dc1y of St>ptembn. in tlw ytar of our Lord one thousand nine hundred and ten. and l>f the admission of the State of California the sixtieth.

    gL~~~ Governor of the State of California.


    Secretari of State.