Page:North Dakota Reports (vol. 48).pdf/851

 tinguishing between bank stock and other stocks for purposes of classifying property for taxation, and, to make the distinction effective, it spoke of bank stock alone in one place and of ‘stocks other than banks’ in another. Similarly the distinction has always been made in the listing law, previously quoted in this opinion, showing that, where bonds and stocks generally were listed, bank stock would be included were it not for the expression ‘bonds and stacks other than bank stock.’”

We respectfully desire to call the majority’s attention to the fact that chap. 59 is no longer a law, but it has entirely ceased to exist, having been amended by chap. 220 of the Session Laws of 1919, which classifies property for assessment into two classes. Section 1 provides:

“All real and personal property subject to a general property tax, not exempt by law, not subject to any gross sales or other lieu tax, is hereby classified for purposes of assessment for taxation as follows:

“Class 1. Class one shall include the following which shall be valued and assessed at one hundred per cent. of the full and true value thereof:

“(a) All railroads and other public utilities, together with franchises, and all real and personal property employed in connection there- with.

“(b) All land, exclusive of structures and improvements thereon.

“(c) All bank stocks.

“(d) All flour mills, elevators, warehouses and storehouses of all kinds; buildings and improvements upon railway rights of way or sites leased from railway companies or other public utility corporations, and structures and improvements on town and city lots used for. public purposes.

“Class 2. Class two shall include the following, which shall be valued and assessed at fifty per cent. of the full and true value thereof:

“All live stock, agricultural and other tools and machinery; gas and other engines and boilers; threshing machines and outfits used therewith; all vehicles, automobiles, motor trucks, and other power driven cars; boats and all water craft, harness, saddlery and robes, structures and improvements used for homes upon town and city lots; and all property not herein specifically mentioned.”

It will be seen that the expression so much emphasized in the majority opinion, and which was contained in chap. 59, to wit:

“Stocks other than banks, bonds, money and credits, provided that such stocks, bonds, money and credits are not otherwise assessed under a mill or flat rate law, shall constitute class three”