Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1851-05-15

e tached thoreto, shall be the valu
!, thereof at such time.
OF DEDUCTIONS FROM MONEYS AMI
CREDITS.
J Sec. IL. In making up the amour
of moneys and credits which any
D person is required to list for himself
: or any other person, company Oh
r corporation, he shall be entitled tC
deduct from the gross amount Of mon,
r eys and credits the amount Of all
bona fide debts owing BY such person,
company or corporation, to any 9th.
er person, company or corporation;
but no acknowledgment Of indebted
ness, not founded on actual considera-
, ton, believed, when received, to have
been adequate, and no such acknowl-
edgment made for the purpose of be-
. ing so deducted, shall be considered a
debt within the meaning Of this Sec
ton; and so much only Of any liabil-
ity, as surety for others, shall be de-
Quoted, as the person making out the
statement believes the surety is le-
gally or equitably bound TO pay, and
so much only as he believes such
surety will be compelled TO pay, on
account Of the inability or insolvency
Of the principal debtor; and if there
are other sureties who are able to
contribute, then only so much as the
surety in whose behalf the statement
is made, will be bound TO contribute,
and no person, company or corpora
tion shall be entitled to any dedue-
ton on account OF any bond, note or
obligation o. any kind given TO any
mutual insurance company; nor on
account of any unpaid subscription
to any religious, literary, scientific or
charitable institution or society; nor
on account Of any subscription to, or
installment payable on the capital
stock Of any company, whether in
corporated or unincorporated.
OF LISTING AND vALUING THE PROPER
TY OF MERCHANTS AND MANUFACTU-
RERs.
Sec. Is. Every person that shall
own, or have in his possession, or sub
ject to his control, any personal pro-
perry, within this State, with author
ity to sell the same, which shall have
been purchased either in or out OF
this State, with view of being sold
at an advanced price or profit, or
which shall have been consigned to
him from any place out of this State,
for the purpose Of being sold at any
place within this State, shall be held
to be a merchant; and at all times,
when he shall be by this act required
to make out and deliver to the asses
sor statement of his other personal
property, he shall state and attest, on
oath or affirmation, the value Of such
property appertaining to his business
as merchant; and in estimating the
value thereof, he shall take as the
criterion the average of all such arti-
cles Of personal property which he
shall have had from time to time in
his possession, or under his control,
during the year next previous TO the
time of making such statement, il so
long he shall have been engaged in
business, and if not, then during such
time as he shall have been so engaged,
and 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
the person making such statement
shall have been engaged in business,
adding together such amounts, and
dividing the aggregate amount there
Of by the number of months that the
person making the statement may
have been in business during the pre-
ceding year; provided that no con-
signee shall be required to list for
taxation the value of any property,
the product OF this State, which shall
have been consigned TO him, for sale
or otherwise from any place within
the State, nor the value OF any pro-
perty consigned to him from any
other place for the sole purpose Of
being stored or forwarded; provided (
he shall, in either case, have no in
terest in such property, or in any
profit TO be derived from its sale; and
The word "person," as used in this.
and the two succeeding sections,
shall be held to mean and include
"firm," company" and corpora
tion."
Sec. IA. Every person who shall
purchase, receive or hold personal
property of any description, lor the
purpose Of adding to the value there
of, by any process OF manufacturing,
refining, rectilying, or by the COM
bination Of different materials, with
a view Of making gain or profit by
so doing, shall be held TO be man.
ufaciurer, and he shall, at all times,
when by this act he is required TO
make and deliver to the assessor a
statement Of the amount or value Of