Same, on each packing house, etc., where the stock exceeds $1,000.00 but never exceeds $2,000.00....... 15.00 Same, on each packing house, etc., where the stock exceeds $2,000.00 but never exceeds $3,500.00.. 20.00 Same, on each packing house, etc., where the stock exceeds $3,500.00 but never exceeds $5,000.. 25.00 Same, on each packing house, etc., where the stock exceeds $5,000.00 but never exceeds $7,500.00... 30.00 Same, on each packing house, etc., where the stock exceeds $7,500.00 but never exceeds $10,000.00.... 35.00 Same, on each packing house, etc., where the stock exceeds $10,000.00 but never exceeds $12,500.00.. 40.00 Same, on each packing house, etc., where the stock exceeds $12,500.00 but never exceeds $15,000.00. 45.00 Same, on each packing house, etc., where the stock exceeds $15,000.00 but never exceeds $20,000.00. 50.00 Same, on each packing house, etc., where the stock exceeds $20,000.00 but never exceeds $25,000.00. 55.00 Same, on each packing house, etc., where the stock exceeds $25,000.00 but never exceeds $35,000.00. 65.00 Same, on each packing house, etc., where the stock exceeds $35,000.00 but never exceeds $50,000.00... 75.00 Same, on each packing house, etc., where the stock exceeds $50,000.00 but never exceeds $75,000.00. 100.00 Same, on each packing house, etc., where the stock exceeds $75,000.00 but never exceeds $100,000.00. 125.00 Same, on each packing house, etc., where the stock exceeds $100,000.00 but never exceeds $125,000.00... 150.00 Same, on each packing house, etc., where the stock exceeds $125,000.00 but never exceeds $150,000.00.. 175.00 Same, on each packing house, etc., where the stock exceeds $150,000.00 250.00 Sec. 2. That this act take effect and be in force from and after its passage. Approved March 27, 1918. CHAPTER 107. HOUSE BILL No. 216. AN ACT to amend section 6, of chapter 97, of the acts of 1912, changing the privilege tax on near beer and other drinks from $500.00 to $25.00 for the retail dealers thereof, and imposing a privilege tax of $250.00 on wholesale dealers. STATE OF MISSISSIPPI "Near beer"-tax on reduced. 91 SECTION 1. Be it enacted by the Legislature of the State of Mississippi, That section 6, of chapter 97, of the acts of 1912 be, and the same is hereby amended so as to read as follows, to-wit: Retail dealers. "Section 6. Retail dealers in non-alcoholic and non-intoxicating drinks. On each retail dealer in non-alcoholic and non-intoxicating drinks, which similate in appearance, odor, taste or quality of lager beer, where the same is sold, kept for sale or offered for sale, in the original package, $25.00. Wholesale dealers. On each wholesale dealer in such drinks, or agent or depositories where such drinks are kept for sale or distribution, $250.00. Sold only in original packages. Provided, that the same shall not be sold or kept for sale except in the original packages, with each bottle properly labeled, and the privilege tax hereby imposed shall not validate the sale of any liquors, beers or drinks, the sale of which is now prohibited by law." Refund of part of tax. Sec. 2. That all dealers in such drinks, who have paid the license provided in section 6, of chapter 97 of the acts of 1912, shall be refunded after due application made for a refund, a proportion of the same represented by the unexpired term thereof, dating from their application for reimbursement. Penalty for violation. Sec. 3. Any licensed dealer who shall sell said drinks in any other than original packages, shall forfeit his license and upon conviction, shall be fined not less than $25.00 for each offense. Sec. 4. That this act take effect and be in force from and after April 30th, 1918. Becomes a law under the operation of section 72 of the state constitution. CHAPTER 108. HOUSE BILL No. 349. AN ACT to authorize the issuance of state bonds in the total sum of $3,000,000.00 for the purpose of providing funds for paying obligations of the state evidenced by notes, and caring for deficits in the state treasury. Authorizing $3,000,000 of state bonds. SECTION 1. Be it enacted by the Legislature of the State of Mississippi, That the governor is hereby authorized and empowered to have prepared immediately and ready for signature and execution, the bonds of the state of Mississippi in the total sum of three million dollars ($3,000,000.00). Said bonds shall be in such denominations as may be to the best interests of the state, shall be dated April 1st, 1918, shall be payable to bearer, shall bear interest at a rate not exceeding six per centum per annum said interest being payable semi-annually, on the first days of October and April in each year, and both principal and interest on said bonds shall be due and payable at the state treasury, or at such place in the United States as may be designated by the governor, with the advice and consent of the treasurer and auditor. The bonds herein provided for shall be serial optional bonds divided into fifteen classes, each class to be designated by a letter of the alphabet from "A" to "O", both inclusive, said classes to mature in alphabetical order as hereinafter provided. class "A" shall consist of $100,000.00 of bonds and shall mature April 1st, 1920; class "B" shall consist of $100,000.00 of bonds and shall mature April 1st, 1921; class "C" shall consist of $100,000.00 of bonds and shall mature April 1st, 1922; and class "D" of said bonds shall consist of $100,000.00 of bonds and shall mature April 1st, 1923; classes "E" to "N" both inclusive, of said bonds shall consist of $200,000.00 each and shall mature one class each year in alphabetical order on April 1st, in each of the years 1924 to 1933, both inclusive, and class "O" shall consist of $600,000.00 of bonds and shall mature April 1st, 1934; provided, however that all or any part of such bonds in classes "E" to "0", both inclusive, may be called or redeemed by the state at its option on any interest date after April 1st, 1923, said bonds to be called or redeemed in the manner hereinafter provided. The interest on said bonds shall be evidenced by interest coupons attached to said bonds. All of said bonds shall be signed by the governor and the secretary of state and sealed with the great seal of the state of Mississippi, but the coupons may be unsealed and the signatures thereto may be engraved facsimile signatures of the governor and secretary of state. Said bonds and the interest thereon shall not be taxable for any purpose whatever. Sale of bonds-duty of governor-advertisement. Sec. 2. The governor shall, as soon as practicable, proceed to offer said bonds, or so much thereof as in his judgment may be necessary, for sale in such series and in such amounts and at such times and on such terms as he may elect, provided, however, that prior to offering said bonds for sale, he shall advertise such sale in such newspapers as he may deem proper, not less than three in number, at least one of which shall be a recognized financial journal, and not less than three weeks prior to such sale and con STATE OF MISSISSIPPI 93 tinuously until such sale, and said bonds shall be sold at public sale and sealed or oral bids may be received; and each of such bids shall be accompanied by a certified check for not less than $20,000.00, payable to the state of Mississippi. On the day fixed by said notice, the governor, treasurer and auditor shall receive said bids and declare the result of the bidding, or may reject any and all bids submitted, if, in their discretion, such bids are not satisfactory. All bids shall include the cost of printing and engraving by the purchaser of said bonds. When the governor, treasurer and auditor shall have named the successful bidder or bidders, they shall give such bidder or bidders a certificate showing the amount of bonds purchased by him or them; and the said bonds shall thereupon be immediately executed; and upon pay ment into the treasury, in the manner provided by law, of the amount or amounts bid therefor, the governor shall deliver said bonds to the person or persons entitled to purchase same. If, at such sale, any of said bonds remain unsold, the governor may, with the advice and consent of the treasurer and auditor, negotiate the sale of same at private sale. No default in interest payments-duty of state treasurer. Sec. 3. It shall be the duty of the state treasurer to have in the vaults of the state treasury or in state depositories in the city of Jackson, or in such bank where said bonds are made payable, if not payable at the state treasury, at least ten days prior to October 1st and April 1st of each year, funds sufficient in amount to pay all of such interest coupons and bonds due on either of said dates. Proceeds of bonds-for what to be used. Sec. 4. The proceeds of the bonds herein provided for shall be used only for the purpose of paying obligations of the state evidenced by notes executed by the governor, and for caring for deficits existing in the state treasury, and the balance, if any remaining, shall be coveerd into the general fund in the state treasury. How bonds may be called in. Duty of legislature. Sec. 5. Whenever the legislature shall desire to call in any bonds as provided for in section 1 of this act, the legislature shall pass an act declaring the intention of the state to call said bonds or such part thereof or such classes thereof as may be named in said act, and naming the date on which said bonds shall be called and providing for publication of notice of such intention to call said bonds. But none of the bonds issued under the provisions of this act shall be called until notice of such proposed call has been given to the holders of said bonds by publication of said act calling for said bonds for at least six months prior to the date named in said act for calling said bonds; said notices to be pub lished in at least two newspapers in Mississippi, and one recognized financial journal in the United States at least once each month during said six months, and such publication shall constitute constructive notice to all holders of said bonds of the act calling said bonds, and upon proof of publication of said notice as herein provided, being filed with the secretary of state, interest on the bonds called shall cease from the date named in said act. Expenses of bond issue-appropriation. Sec. 6. That the sum of $2,000.00, or so much thereof as may be necessary, to pay the expenses of advertising and negotiating the sale and issuance of said bonds, and attorneys fees in securing the approval of said bonds, is hereby appropriated out of any money in the state treasury not otherwise appropriated. But no commission shall be paid any person for the sale or negotiation of said bonds, and said bonds shall not be sold for less than par and accrued interest. All monies herein appropriated shall be drawn out on auditor's warrants issued on certificate of the gov ernor. Sec. 7. That this act take effect and be in force from and after its passage. Approved March 23, 1918. CHAPTER 109. HOUSE BILL No. 556. AN ACT taxing the net estates of decedents and inheritances, legacies and gifts. Tax on net estate. Rate, exemption. SECTION 1. Be it enacted by the Legislature of the State of Mississippi.-A tax shall be and is hereby imposed upon the net estate of every resident decedent and upon the net estate of every non-resident decedent, consisting of real estate and such corporeal, tangible personal property capable of having a situs of itself, located within this state, or any interest therein, as a tax upon the right to transfer, provided, however, as to the non-resident, this shall not include such intangible property as money on hand or on deposit, shares of stock, bonds, notes, credits, and evidences of debt. Such tax shall be imposed at the rate of one-half of one per centum upon the excess value of each said estate over $5,000; provided, that in the case of the estate of a non-resident decedent only such proportion of said exemption of $5,000 shall be allowed, as the value of the real estate and tangible personal property located in Mississippi, or any interest therein, bears to the value of the entire estate wherever located; and provided, further, that the |