The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-03-26


the net profits of such turnpike company.
and the salaries and compensation OF it,
officers and agents shall be not less than
three per centum per annum on the amount
of such capital stock paid in by individual
stockholders, shall list for taxation, by their
president, secretary, or other proper ac-
counting officer, the full amount Of the cap
ital stock of said company paid in by indivi-
dial stockholders, at the true value OF said
stock in money, and said stock SO listed shall
be subject to taxation as provided by this act.
SEC. IL. No person shall be required to
list or insert in lis statement, any property,
nor the value of any personal property,
which, by the third section of this act, is
specifically exempt from taxation.
If there be no real property, or if there
be no personal property or if there be no
moneys or credits which the person with
whom the assessor shall have left notice to
make out statement of property for taxa
ton, is by this act required to list on his
own account, or Oh account of others, he
shall set forth such fact as the case may re-
ouire, on the blank statement left him by
the assessor.
RULES FOR vALUING PROPERTY.
Sec. IL. Each separate parcel OF real
property shall be valued at its true value in
money, excluding the value of crops grow
ing thereon, but the price for which such re-
al property would sell at auction, or at
forced sale, shall not be taken as the criteri-
on of such true value.
Each parcel of real property belonging to
any religious, literary, scientific or benevo-
lent society, Or institution, whether incerpo.
rated or unincorporated, and school and
ministerial lands, and held under lease, shall
be valued at such price as the assessor be-
lieves could be obtained at private sale for
such leasehold estate, upon the terms of sale
above specified.
Personal property of every description
shall be valued at the usual selling price of
similar property at the time of listing, and
at the place where the same may then be;
and if there be no usual selling price known
to the person whose duty it shall be to fix
value thereon, then at such price as it is be-
Iieved could be obtained therefor, in money,
at such time and place.
Money, whether in possession or on de-
post, shall be entered in the statement at
the full amount thereof: Provided that de-
preciated bank notes shall be entered at theiI
current value.
Every credit for certain sum, payable
either in money, property of any kind, labor
or services, shall be valued at the full
amount of the sum so payable; if for spe-
cifc article, or for specified number, or
quantity of an article or articles of pro-
perty, or for a certain amount Of labor OF
services, at the place where payable.
Annuities shall be valued a. the price
which the person listing the same believes
them to be worth in money.
All manufactured articles, remaining un-
sold in the hands of any mechanic by whom
they shall have been made, shall be valued
at SO much as the materials entering into
their composition shall have cost such me-
chanic; and sheep shall be valued without
reference to the value of the unshorn fleece.
But no person shall be required to list a
greater portion of any credit than he believes
will be received, or can be collected with or
without resort to legal process; nor any
greater portion of any obligation given to
secure the payment Of rent, than the amoun
of rent that shall have accrued OIL the lease
and shall remain unpaid at The time of sucE
listing.
Sec l3. No person shall be required tt
list any part of any crop which may have
been harvested on any farm of which he Is
the owner, or leaser, OF occupant, within
one year next previous to the time OF sucf
listing, and which may then remain on hand
nor any wool shorn from his own sheep with
in six months previous.
Sec. ID. Personal property, of every de-
scription other than that of merchants ano
manufacturers, shall be listed as the proper
ty of the person who shall be the owner
thereof, if resident of the county where
the same shall be, and if not, of the person
having possession or charge thereof at the
ltme when the same shall be listed, and the
value to be attached thereto shall be the
value thereof at such time.
OF DEDUCTIONS FROM MONEYS AND CREDITS.
SEC. Is. In making out the amount o.
moneys and credits which any person is re
oured to list for himself, or any other per
son, company or corporation, he shall be en-
titled ito deduct from the gross amount o
moneys and credits the amount of all bona
fde debts owing by such person, company
or corporation, or any other person, company
or corporation; but no acknowledgment o.
Indebtedness, not founded on an actual con-
sideration, believed, when received, TO have
been adequate, and no such acknowledge
ment made fer the purpose of being so de-
Quoted, shall be considered debt within
the meaning of this section; and so much
only of any liability, as surety for others
shall be deducted, as the person making ou
| Iha statement believes the surety is legally