“ In thus deducting the tax, the treasurer was acting under the fourth section of said act, which makes it the duty of the treasurer of each private corporation doing business in the state, 'upon the payment of any interest on any scrip, bond, or certificate of indebtedness issued by said corporation, to assess the tax imposed and provided for state purposes upon the nominal value of each and every said evidence of debt,' deduct the same from the interest paid, and turn it into the state treasury. ”

“ Under the general laws of the commonwealth, all such property is to be assessed at its actual value, with notice to the owner, and the right of appeal to the county commissioners, whose action is, in turn, reviewed by the state board of revenue commissioners, except as to bonds and mortgages issued by corporations created by or doing business in Pennsylvania, which are, by the provisions of the fourth section of the said act, drawn out from the general plan of assessment, and required to be assessed arbitrarily at their nominal or par value. ”