district of his residence like exemptions and privileges are granted to motor vehicles duly registered under the laws of and owned by residents of this State.

(1920, p. 283. In force June 18, 1920.)

Sec. 2138. Speed limit.

Every machine operated on any public highway or street of this State shall be driven with ordinary care at all times, having regard to the width, traffic and use of the highways, and the protection of life and property.

If the rate of speed of any machine being operated on any public highway of this State exceed thirty (30) miles an hour for a distance of one-eighth (1-8) of a mile, such rate of speed shall be conclusive evidence that the person operating said machine is operating the same at a rate of speed greater than is reasonable and proper and in violation of the provisions of this chapter. If the rate of speed of a machine being operated on any public highway of this State, where the operator's view of the highway and traffic is obstructed, or when approaching an intersecting public highway, or when traversing a bridge or sharp curve in either the alignment or grade of the highway, shall exceed fifteen (15) miles an hour, such rate of speed shall be conclusive evidence that the person operating such machine is operating the same at a rate of speed greater than is reasonable and proper and in violation of the provisions of this chapter.

Provided, that no machine which has a seating capacity of more than seven passengers shall be operated on any public highway of this State at a rate of speed in excess of twenty (20) miles per hour; and provided that no machine shall be operated at a speed of more than fifteen miles per hour when a street or highway passes the built-up portions of unincorporated towns or village; and provided, that no machine shall be operated at a speed of more than ten miles an hour at points on any public highway outside of incorporated towns and cities where there is a gathering of horses or persons.

Provided that when the operator of a machine overtakes any vehicle or machine and indicates his desire to pass said vehicle, or machine, it shall be the duty of the driver of said machine or vehicle to bear to the right as far as practicable and reduce the speed of said vehicle or machine to less than twenty (20) miles per hour so as to enable the machine to pass on the left hand side at a rate of speed not in excess of twenty-five (25) miles an hour.

(1922, p. 747. In force June 18, 1922.)

The speed limit must be observed by United States employees while engaged in transporting U. S. Mail, where it does not appear that the postmaster-general fixed the schedule for carrying of the mail which requires the employee to violate the State statute. Hall v. Commonwealth, 129 Va. 738, 105 S. E. 551. Sec. 2143. When driver, et cetera, shall keep to the right side of roadway; right of way when approaching an angle.

When the operator, conductor or driver of any machine approaches a curve, bend or any place where the roadway is not plainly visible

for a distance of three hundred feet ahead, he shall at all times keep his machine on the right hand side of the roadway sufficient to allow ample room on the opposite side for the passage of other machines or vehicles irrespective of whether another machine or vehicle is approaching or not. When two machines or vehicles equally distant from the point of intersection approach each other at an angle at any public road or public street crossing, the one on the right shall have the right of way. (1922, p. 747.

In force June 18, 1922.)

This section 2143 was twice amended at session of 1922. Both amendments are her eprinted.

Sec. 2143. When driver, et cetera, shall keep to the right side of the roadway; when to signal to person behind him.

When the operator, conductor or driver of any machine approaches a curve, bend or any place where the roadway is not plainly visible for a distance of three hundred feet ahead, he shall at all times keep his machine on the right hand side of the roadway sufficient to allow ample room on the opposite side for the passage of other machines. or vehicles irrespective of whether another machine or vehicle is approaching or not.

And when the operator, conductor or driver of any machine intends to stop or turn to the right or left, if there is approaching behind him any vehicle within fifty feet, he shall give a signal, which will plainly indicate to any person or persons, within fifty feet behind him his intention to so stop or turn to the right or left.

(1922, p. 418. In force June 18, 1922.)

This section was twice amended at session of 1922. Both amendments are here printed.

Sec. 2145. See chapter 232 of Acts 1918, herein.

Sec. 2146. Civil liability; seizure of the machine; liens.

In addition to such fine or imprisonment, any person violating any of the provisions of this chapter shall be liable for the damages actually sustained by reason of such violation, and such violation shall be sufficient grounds for an attachment of the motor vehicle, if it is being driven or used with the knowledge, consent or approval of the owner, and there shall be a prima facie presumption that the said. motor vehicle is being used or driven with the knowledge, consent, and approval of the owner. The procedure, pleadings, and trial of the cause shall be the same as in other attachment proceedings under the provisions of the Code of Virginia of nineteen hundred and nineteen, and acts amendatory thereof. But any attachment of any motor vehicle, or sale thereof under this chapter, shall be subject to all valid and properly recorded liens thereon.

(1922, p. 598. In force March 23, 1922.)

Sec. 2154. How fees from automobile licenses, etc., to be expended. All fees and licenses collected under the provisions of this act shall be paid into the State treasury, except that the secretary of the Com

monwealth shall deduct therefrom the necessary expenses incident to the cost of purchasing number plates and mailing the same, and the expense of necessary clerical assistance. This fund, except as is otherwise provided in this act, shall constitute a special fund to be expended under the direction of the State highway commissioner for the maintenance or construction of roads and bridges included in the State highway system, including roads included in the State highway system, located in incorporated towns, whose inhabitants, according to the latest United States census, did not exceed twenty-five hundred, or that portion of said towns where the houses are at least two hundred feet apart, provided no greater amounts for construction shall be expended from the joint State and federal fund per mile than the average amount expended per mile on roads for five miles outside corporate limits of said towns in either direction, and provided further, that no greater amount for maintenance shall be expended on such roads that was or should be expended on an average per mile for maintenance on roads for five miles outside of said incorporated towns; and provided further, that if, in the opinion of the highway commissioner, a greater amount than has been or may be expended per mile for such roads outside of said towns is necessary for the proper construction and maintenance of roads within said towns, the towns shall obligate themselves to meet the excess before any such roads are constructed or maintained, in the proportion of sixty-six and twothirds per centum for the maintenance of such roads embraced within the State highway system as may now, or shall hereafter, in the opinion of the State highway commissioner, be in maintainable condition, but this shall not apply to toll roads, so long as the toll gates are maintained thereon, and thirty-three and one-third per centum for the construction of roads included in the State highway system; provided that on and after December thirty-first, nineteen hundred and twenty-two, all fees collected hereunder shall be used for maintenance as above prescribed.

Payments for maintenance or construction on the State highway system shall be made by warrants drawn on the auditor of public accounts by the State highway commissioner.

(1919, p. 62. In force December 9, 1919.) See chapter 421 of Acts 1918, herein.

Sec. 2158. Security to be given by banks.

No money shall be deposited in either of said banks until it shall have secured some person other than the bank itself in its behalf to enter into a bond, approved and accepted by the finance board, for a sum in the penalty of at least fifty thousand dollars, which sum, however, shall at all times be twenty-five per centum in excess of the amount of money of the Commonwealth that is on deposit in any such designated State depository, with condition faithfully to account for and pay over when and as required, whatever amount may, at the time such bond is given, be on deposit in said bank to the credit of the Common

wealth, and such other sums as may thereafter be deposited in said bank on behalf of the Commonwealth, and with further condition to pay the State interest at the rate of not less than two and onehalf per centum per annum on daily balances, and for the faithful discharge by said bank of all the duties and obligations pertaining to it as such depository; but every such bank shall give as surety on its bond, some guaranty or security company doing business in this State. Any such bank, however, may deposit with the treasurer of the State, in lieu of such bond, registered bonds of the State of Virginia, registered bonds of any municipality, county or subdivision thereof, of the Commonwealth of Virginia issued in compliance with statutes authorizing same, or registered bonds of the United States, registered in the name of the bank making such deposit, said bonds to be taken at the market value on date of deposit, to be held upon the same condition and trust for the protection and indemnity of the State stipulated above in relation to the bond to be given hereunder; and shall at the same time deliver to the treasurer a power of attorney authorizing him to transfer said bonds or any parts thereof, for the purpose of paying any of the liabilities provided for in this title. The treasurer shall, in the month of December in each year, examine all securities so deposited with him for the purpose of ascertaining whether any of them have depreciated or been reduced in value, and forthwith require any such bank to make good any depreciation or reduction in value of said securities. The State shall be responsible for the safe keeping of all bonds deposited with the treasurer of the State, and if said bonds or any part of them shall be lost, destroyed, or misappropriated, the State shall make good such loss to the bank making the deposit.

(1920, p. 817; 1922, p. 16. In force June 18, 1922.

Sec. 2205. The capital of merchants is intangible personal property, and under this section it cannot be taxed by a city at a higher rate than thirty cents upon the one hundred dollars of assessed valuation thereof. The State imposes a license tax on merchants regulated by the amount of their purchases. The language of the act, "that the capital of merchants shall not be subject to State taxation, but may be taxed locally as prescribed by law," means that such capital shall not be subject to State taxation on the ad valorem basis so long as the State continues to tax merchants with a license, and that as to local taxes they must be in accordance with the general law of the State, and had reference to the preceding provision of the same section placing a maximum of thirty cents thereon. City of Richmond v. Drewry-Hughes Co., 122 Va. 178, 90 S. E. 635, 94 S. E. 989.

The capital of merchants is "intangible personal property" within the meaning of the tax laws. By the express terms of the law, such capital is excepted from taxation by the State in the ordinary sense (that is, upon an ad valorem basis), and therefore, is not within the class of intangible property segregated for State taxation, but is subject to be taxed locally "as prescribed by law." The phrase, "as prescribed by law," does not mean the prescribed rate of thirty cents mentioned in the segregation act, but means that the local taxation of merchants' capital is to be controlled by other statutory provisions outside of the terms of that act; and statutory provisions outside of the segregation act, contemplating and authorizing a tax on merchants' capital at such rate as the county and city authorities deem necessary and proper, and thus responding

to the expression, "as prescribed by law," are found in section 69 of the charter of the city of Richmond. City of Richmond v. Drewry-Hughes Co., 122 Va. 178, 90 S. E. 635, 94 S. E. 989.

The segregation act did not subvert the local license tax system of cities hitherto prevailing to affect license taxes on the business of purchasing leaf tobacco under an amended ordinance by a city. American Tobacco Co. v. City of Danville, 99 S. E. 734, 125 Va. 12, 29.

The title of the original segregation act held sufficient. Richmond v. Pace, 127 Va. 274, 103 S. E. 647.

As to taxation of bank stock, see Merchants National Bank v. Richmond, 256 U. S. 635, noted under section 17 of Tax Bill herein.

The language of the act in regard to merchants' capital is: "Except that the capital of merchants shall not be subject to State taxation but may be taxed locally as prescribed by law." The words, "as prescribed by law,' were not apt and natural words to convey the idea that local taxation on merchants' capital was to be limited to the rate fixed by the act. If the purpose of the draftsman had been to restrict local taxation of the capital of merchants to the rate previously named in that particular act, undoubtedly he would have used the words, "as preseribed by this act." or their equivalent, instead of "as prescribed by law." The purpose of the General Assembly seems to have been to leave merchants' capital to be taxed by localities practically as it had been prior to the passage of the segregation act, and this becomes the more apparent upon a consideration of the terms of that act in connection with the other kindred provisions of the tax laws enacted at the same time. City of Richmond v. Drewry-Hughes Co., 122 Va. 178, 90 S. E. 635, 94 S. E. 989.

Sec. 2206. See notes to preceding section.

Sec. 2209. This section is similar to a part of the segregation act 1915 page 119, which was under consideration in Rixey v. Commonwealth, 125 Va. 337, 101 S. E. 404, 99 S. E. 573. In connection with the second paragraph of this section read section 1987.

Sec. 2212. A city, authorized by its charter to levy a license tax on the privilege of purchasing leaf tobacco, had power to increase the rate on a particular company engaged in the business at any time before expiration of the period for the enforcement of the taxes, even if the increase was made after the tax first levied had been paid. American Tobacco Co. v. City of Danville, 125 Va. 12, 29, 99 S. E. 733.

Sec. 2215. General duties.

It shall be the duty of the State tax board:

(a) To collect, digest and preserve information relating to the assessment and collection of taxes in this State and to ascertain the best methods of effecting equitable assessments and of avoiding duplication of taxation of the same property; and report to the general assembly such measures as will promote uniformity of assessments, just rates and harmony and co-operation among all officials connected with the revenue system of the State.

(b) To exercise supervisory powers over examiners of records, commissioners of the revenue, assessors of lands, and all other tax officers.

(c) To generally and specifically instruct examiners of records. and other tax officers respecting the discharge of their duties in carrying out the laws of this State.

(d) To investigate or cause to be investigated at any time whether examiners of records and other tax officers are performing their duties in obedience to the laws and the instructions of the State tax board.

(e) To report tax officers to the circuit or corporation courts (except that in the city of Richmond the report shall be made to