Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-06-16
WHOLE NUMBER 3I5

tEd manufacturers, shall be listed as the
p oper o. the person who shall be the
owner thereof, if a resident Of the county
where the same shall be, md if not, Of the
person hving possession or charge there.
UI. al The time when the same shall be list.
ed, and the value to be attached thereto,
shall oe The value thereof at such time.
OF DEDUCTIONS FROM MONEYS AND CREDITS. :.
Sec. - In making up the nmount Of
moneys and credits which nny person is
required 10 list for himself or any other
person, company or corporation, ne shall
be entitled 10 deduct from the gross amount
of moneys and credits the amount of ell
bona fds debts owing by such person com.
pony or corporation, to any other person,
company o" corporations; bu. no ackEoni.
edgenent of Indebtedness, not founded On
actual consideration, believed, when re-.
ceiyed, to have been adequate, and no
such acknowledgment made for the pur.
pose Of being so deducted, shall be consid.
cred debt within the meaning Of this sec.
ton; and so much only Of any liability,
as surety for others, shall be deducted, as
the person making out The statement be-
lieves the surety is legally or equiiablv
bound 10 pay, and so much only as lie Le-
lieves such surety viii. be Compelled TO
pay on account Of the inability or, insol.
vency of the principal debtor; and if there
are other sureties who are able to contrib
ute, then only SO much as the surety in
whose behalf The statement is made. will
be bound 10 incorporate, aud no person,
company or corporation shall be entitled to
any deduction on account Of any bond,
note or obligation Of any kind given to any
mutual insurance company; nor on &C.
count of any unpaid subscription to any
religious, literary, scientific or charitable
ins litulion or society; nor on account of
any subscription 10, or inslallment payable
on the capital stock of any company,
whether incorporated or unincorporaied.
OF LISTING AND vALUING THE PROPERLY
OF MERCHANTS AND MANyFAcTUREas.
Sec. l3. Every person that shall own
or have in his possession, or subject 10 his
control, any personal property, within this
State, with authority 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 10 him from any
place out Of this State, for the purpose of
being sold al any place within this State,
shall be held to be merchant; and, nj all
times, When he shnll be by this act requr.
ed to make out and deliver to The assessor
statement of his other personal property.
he shall state and attest, on oath or mfr.
nation, the value Of such property aFper-
tanning to his business rs a merchant, md
in estimating the value thereof, he shall
take as the criterion the average value Of
all such articles Of personal property which
he shall have had from time TO time in his
possession, or under his coutrol, duripgthe
year next previous 10 the time Of making
such statement, if so long he shall have
been engaged in business, and If not then
during such time as he shall have been 50
engaged, and the average shall be made, up
by taking the amount in value on hand, as
nearly MS may be, in each month of The
next proceeding year in which the person
making such statement shall have been en-
gagged in business, adding together such
amounts, and dividing the aggregate a.
mount thereof by the number Of months
that the person making the statement may
have been in business during the preceding
year; provided that no consignee shall be
required to list for taxation the value of
any properly, the product of this State,
which shall hive been consigned TO him,
for sale or otherwise, from any place
within the State, nor the value Of any
property consigned 10 him from any olher
place for the sole purpose OF being stored
of forwarded; provided he shall in either
case, have no interest in such property, or
in any profit to be derived from lis sale;
and the word ''person." rs used in this,
and the Two succeeding sections, shall be
held 10 mean and include "frm,' '.com>
puny," and corporation" -..- 49,.
Sec. IA. Every person who shall pur-
chase, receive or hold personrl property
of any description, for The purpose Of add.
ing 10 the value thereof, by any process Of
manufacturing, refining, rectifying, orby
combination OF different materials, with
view OF making gain or profit BY so do
ing, shnll be held to be manufac.
turer, and be shall, at oil times, when by
this oct he is required 10 make and deliver
to the assessor statement OF the amount
of value OF his other personal property SUBJ
ject TO taxation, also state The average val
ue estimated, us provided in the proceeding
section, Of ull articles purchased, received,
or otherwise held, for the purpose oil being
used, in whole or in part, in any process or
operation Of manufacturing, combining,
rectifying or refining, which from time to
time, he. shall have had on hand during the
year next previous 10 the time Of making
such statement, if so long he shall have
been engaged in such manufacturing bust.
ness, and ii not then during the time he
shall hnve been SO engaged, which stale
ment he shall attest on oath; but in deter
mining the value Of all articles munpfaciur.
ed by him, and which shall remain on
hand unsold, the cost ofihe material enter.
ing into their combination, or Of which
they were made, with the cost Of the mate
rials used or consumed in the process Of
manufacturing, combining, rectifying, or
refining, shall be taken as the criterion OF
,ha;r voiue for tho n,,rnosa aftnxntion.