Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1846-04-22
for estimating the average value thereof.


&c., or who trade or deal IN horses, cattle,
sheep. wheat, sc. &c. in short all who come
under the general terms ofmerchant or trader.
Commission merchant or consignees, who
receive property for sale from places out of
This State, or lot the product of this State
must include the average value of such prop.
erty in their Statements; and all property in
which such commission merchant or consignee
has an interest, even if not held for sale, is
properly subject to taxation, and must be in
cluded in his statement.
In estimating the value the property ap
pertaining to the business of merchant,
which he is required to list, the average shall
be made up by taking the amount in value on
hand, as nearly as may be, in each month of
the next preceding year in which he has
been engaged in business, adding together
such amounts and dividing the aggregate
amount thereof by the number of months he
has been in business during the preceding
year; thus, if he had been in business for q
year, he would add up the amount on hand
In each month, and divide the sum by twelve,
if he had been in business nine months, he
would add the amount of each of the nine
months, and divide by nine, which would give
the sum to be listed; and If he had been in
business for less time than two months,
the amount on hand during that time would
be the sum 10 be listed.
MANUFACTURERS STOCK.
Under the term "manufacturer," is included
all persons who manufacture articles Of wool,
cotton, hemp iron, copper, lead, wood, eath
er, &c., &c, and owners Of forges, fOun>
dries, Touring mills, oil mills. paper mills,
saw mills, factories, breweries, distieries,
tanneries, &C., &C.. pork and beef packers,
merchant tailors, &c., &c.
The property to be returned in the states
ment of manufacturer stock, includes all
property purchased, received or otherwise
held for the purpose of adding to the value
thereof, by these and similar branches of bd-
siness, or BY any process Of refining, rectify-
} ing, or manufacturing.
The average value of manufacturers stock
i, is to be estima led by the same criterion that
is given for estimating the average value Of
merchants stock. But in determining the
average va'ue of a manufacturers stock, the
f value of the article purchased or held for the
| purpose of being manufactured or used in the
process, is 10 be taken as the criterion. and
not the whole value of the articles when
0 manufactured.
r The value Of all engines and machinery,
tools and Implements, used in manufacturing,
{ after deductlng one hundred and fifty dollars
:. from ,the amount, is to be included in the
statement of manufacturers stock, except
J., such fixtures as form part of the real prop
erty.
S Steam engines, cardlng machines, machine
J.. ry for spinning and weaving woollen and cot"
ton goods, or other articles, &C., are person
/ al property and must be included in the state.
: ment.
II No deduction can be made from persona
q property being the eleven first items in the
o statement, on account of debts due by tbs
J. person making the statement. it is onl,
# from moneys and credits that q deduction cal
v be made of debts due.
q MONEYS AND CREDITS.
" These terms are very comprehensive
(. and include all specie and coin, banl
o notes, and bills in possession of the per-
II II son or his agent. or any person holding
{ the same for him; and every deposit o.
sum which can be withdrawn in money
o on demand. and every claim or demant
It for money, labor, or any other valuable
thing, receivable, due or to become due
J and every annuity, and all money invest
9 ed in property of any kind, secured b.
g deed or otherwise, which the perso
n holding the same is bound to reconve
e upon the payment of any specified sum
II All debts and claims due or not due
i bearing interest or not upon interest, ar
ID tax able and must be listed, whether tn
), person by whom they are payable reside
"a In this State or out Of this State. Th
- law taxes the person holding the credits
Z Lo th;o Stoto ~otto
d where the debtor resides.
v The deductions which are to be mad
5, from the gross amount Of money an
credits. are particularly specified in tn
IS 18th section, and in the last clause Of tn
y ! 18th section, the debts to be deducte
~ must be bona fide debts. owing by tn
r. person to whom the credits and money
" belong, and in the same right. The in
|. dividuai debt of one partner cannot be
is Quoted from the moneys and credits {
st the firm or company. The individu,
K debts of the guardian, parent, trustee, c
r person who lists the property of another
in cannot be deducted from the moneys an
n, credits Of the firm or company. The ir
le dividual debts OF the guardian. parent
l. trustee, or person who lists the propert
Of another, cannot be deducted from tn
20 moneys and credits which he lists a
o' guardian, trustee, &c. 1t is necessar
y ) to refer particularly to the restrictions {
- the 18th and 10th sections as to the debt
which are to be deducted.
er RULES FOR vALUING PERSONAL PRoPEn
ut TY, MONEYS AND CREDITS.
s. The twelfth section prescrbes tn
H. rules Cor valulng property. The follow
,s x, ing is synopsis Of the provisions of tn
20 20 law relative to the valuation of persona
es property, moneys, and credits:
ID Personal property Of every descriptio
n is TO be valued at the usual selling pric
y Of similar property at the time of listin
q. a. and at the place where the same ma
Il Il then be; and if no selling price is known