The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1852-04-28
] LAWS OF OHIO.
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rS PUBLISHED BYiAUTHORITY.

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ara PUBLISHED BYfAUTHORITY. s.
Mo, SOL AN ACT as iae
For the assessment and taxation OF all
.seproperty 10 this State, and for levying
stitaxss thereon according to its true value
.osin moneysaa saisles gsi H rais9
sae ,hneass,y[ Continued. 5aas4
.,iigis RULES FOR vALulNe PROPERTY.
-ooSEc7 9. Each separate parcel Of real
pfopefty, shall be valued at its true value
inmoney, excluding the value Of the crops
growing thereon; but the price for which
such real property would sell at auction,
OF 1t q forced sale, shall not be taken as
The criterion Of such true value. Each
tract Or lot of real property belonging to
ahis State, or TO any county, city, or char.
liable institution, whether Incorporated or
'unincorpated, and school or ministerial
lands, held under lease for a term exceed.
ing fourteen years, shall be valued at such
price as the assessor believes could be OBJ.
tained at private sale for such leasehold
estate. Personal properly, Of every de-
scription, shall be valued at the usual sell.
ing 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 sell.
ing price known to the person whose duty
il shall be to fix value thereon, then a;
such price as it is believed could be OBJ.
tanned therefor, in money, at such time and
place. Investments in bonds, stocks, joint
stock companies, or otherwise, shall be
valued at the true value thereof, in money.
Money, whether in possession or on de.
posit, shall be entered in the statement at
the full amount thereof; Provided, that
deprecated bank notes shall be entered
atitheir current value. Every credit for a
sum certain, payable either in money,
property Of any kind, labor or services,
shall De valued at the full price of the sum
50 payable; if for specific article, or for
. specified number or quantity Of any ar.
ticle or articles Of property, or for certain
amount of labor, or Tor services OF any
kind, ii shall be valued at the current price
Of such property, or Of such labor or ser.
vice. atahe place where payable. Annui.
ties or moneys, receivable at stated peri.
DDS, shall be valued at the price which the
person listing the same believes them to be
worth in money.
.oF DEDUCTIONS MADE FROM MONEYS AND
isAsM n o CREDITS. ad8#a
SEc.10 In making up the amount Of
moneys and credits which any person is
required to list for himself or any other
person, company or corporation, he shall
be entitled to deduct from the gross amount
,of moneys and credits, the amount Of all
bona fde debts owing by such person,
company or corporation, 10 any other per.
son, company or corporation, for con-
sderaiion received; but no acknowledge.
ment Of indebtedness, not founded on &C.
tual consideration, believed, when receiv-
ed 10 have been adequate, and no such
acknowledgement made for the purpose OF
being SO deducted, shall be considered
debt within the meaning Of this section;
and so much only Of any liability, as sure.
ty for others, shall be deducted as the per.
son making out the statement believes the
surety is legally and equitably bound to
pay, and so much only as he believes such
surety win be compelled to pay on account
Of the inability or Insolvency Of the prin.
cipal debtor; and if there are other sure.
ties who are able 10 contribute, then only
so much as the surety in whose behalf the
statement is made, will be bound to con.
tribute; Provided, that nothing in this sec.
tion shall be so construed as to apply to any
bank, company or corporation exercising
powers or privileges. e
= SEQ. II. No person, COMPANY or cor
shall be entitled to any deduc-
lion on account Of any bond. note or OBJ.
LEGATION of any kind, given to any mutual
insurance company; nor on account Of any
unpaid subscription to any religious, liter.
ary, scientific or charitable institution or
society; nor on account Of any subscfip.
ton to, or installment payable on the cap.
italstock Of any company, whether incor.
pprated or unincorporated .aIiil ~ Is a
OF LISTING AND vALUING THE PROPERTY OF
i, MERCHANTS AND MANUFACTURERS, AND OF
BANKERS, EXCHANGE BROKERS, AND STOCK
JoBBERs, &c.
SEC. l2. Every person that shall own,
or have in his possession, or subject to 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 to being sold at
an advanced price. or profit, orwhich shall
have been consigned 10 him., from any
place out Of this State, for the purpose Of