Mississippi Supreme Court May 16, 1932, No. 30033. (Industrial Loan & Investment Co. v. Adams County)

Smith, C. J.,

delivered the opinion of the court.

These cases present appeals from assessments for taxation of debts due the appellant. Under section 3108,

*660

Code of 1930, “all notes and evidences of indebtedness bearing a. rate of interest not greater than six per cent, per annum, and all money loaned at a rate of interest not exceeding six per cent per annum” are exempt from taxation.