Page:North Dakota Reports (vol. 48).pdf/844

 any corporation, joint-stock company or association, whether incorporated or not, except banking corporations, whose taxation is especially provided for in this article, shall make out and deliver to the assessor a sworn statement of the amount of its capital stock, setting forth particularly.”

Then follows the same number of subdivisions as were contained in the original section, with some changes inserted therein not necessary here to mention. It will be noticed, however, that, in the language of the amendment, above set forth, it includes more than the section did as it originally stood. It contains the additional words “corporations” and “joint-stock company.” These and other changes in the amendment show that the legislature gave consideration to every part of it, and hence must necessarily have determined that it was necessary to except banking corporations from its operation, as it was specifically there recognized that the taxation of banking corporations had been especially provided for.

The same section, as amended by chap. 221, supra, was again amend- ed by chap. 119 of the Session Laws of 1921, where again banking corporations are excepted from the operation of the section as thus amended, and where again it is mentioned that the taxation of banking corporations is especially provided for. This is the third legislative recognition of this fact.

It is now proper to notice what provisions have been made with reference to the taxation of stock and property of banks, and in this connection § 2115 may be considered. By it, for the purpose of taxation, the valuation of stock of banks located in this state is specifically provided for.

By chap. 61 of the Session Laws of 1917, § 2115 was amended, and as amended is now the law, providing for the assessment of bank or trust company stock. It is the law which is now in force, and prescribes the manner of ascertaining the valuation of bank or trust company stock for the purpose of taxation. It provides:

“Section 1. That § 2115 of the Compiled Laws of North Dakota for the year 1913 is hereby amended and re-enacted so as to read as follows:

“Section 2115. Bank and Trust Company Stock, Where and at What Valuation to be Listed. The stockholders of every bank, and of every trust company, located in this state, whether such bank or trust