Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1852-04-29

Tor services Of any klnc, 1t snail De valued u
the current price of such property. or of such
labor or service, at the place where payable. -
Annuities or moneys, receivable at stated pc
riods, shall he valued at the price which tht
person listing the same believes them to b
worth IN money.
OF DEDUCTIONS MADE FROM MONEYS AND CREDITS
Sec 10. In making up the amount of mon
eys and credits which any person Is required
TO list for himself, or any other person, compa
nv or eorporation, 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 to any other
person, company corporation, for conslde-
ration received but no acknowledgment Of in.
debtedness, not founded on actual reconsideration,
believed, when received to have been adequate,
and no such acknowledgment made for the pur-
pose of being so deducted. shall be considered
a debt within the meaning Of this section; and
so murh only Of any liability. or surety for 9TH
ers, shall be deducted as the person making out
the statement believes The surety is legally and
equitably bound to pay, and so much only as he
believes such surety will be compel ed TO pay
on account of the inability or insolvency OF
the principal debtor; and if there are other
sureiies who are able to contribute. then only
so much as the surety in whose behalf the state
Provided, that nothing in this section shall be
so construed as to apply TO any bank, compa
ny or corporation exercising banking powers or
privileges.
Sec. IL. 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 account Of any unpaid subscription to any
religious literary, scientific or charitable in
stitution or society; nor on account of any sub
scription to, or installment payable on the
capital stock of any company, whether incor-
porated or unincorporated.
OF LISTING AND vALUING THE PROPERTY OF MER
CHANTS AND MANUFACTURERS, AND OF BANKERS,
EXCHANGE BROKERS. AND STOCK JoBsFRs, &c.
Sec H. Every person that shall own, or have
in his possession, subject TO his control, any
al property within this State, with au-
thorlty to sell the same. which shall have been
purchased either in or out OF this State, with a
view to being sold al an advanced price, or prof
il or which shall have been consigned to him,
from any place out of this State, for the pur-
pose of being sold at any place within this
State, shall he held to be a merchant; and,
when he shall be by this act required to make
out and deliver to the assessor a statement OF
his other personal property, he shall state the
value of such property appertaining to his busi-
ness as a merchant; and 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 70
/ time in his possession, or under his control,
during the year next previous to the time Of
making such statement, if SO long he shall have
been engaged in business; and if not, then du-
ring 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 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 tnxation the value of any property,
the product of this State, which shall have
been consigned to him, for sale or otherwise +,
ffom any place within the State nor the value
of any property consigned to him from any
other place for the sole purpose of being stored,
or forwarded: Provided, he shall, in either cnse,
have no interest in such property, or any profit
10 be derived from its sale; and the word per-
son, as used in this and the succeeding sec
tions, shall be held TO mean and include, hrm,
company, and Incorporation.
Sec. IS. Every person who shall purchase, re-
ceive or hold personal property Of any descrip-
tion, for the purpose of adding to the value
thereof by any process of manufacturing. re
hning. rectifying, or by the combination of diff
ferent materials, with the view of making a
gain or profit by so doing, shall be held to be a
manufacturer; and he shall, when he is required
to make and deliver to the assessora statement
of the amount of his other personal property
subject to taxation, also include in his state
ment The average value estimated, as provided
in the preceding section, of all articles pur.
chased. received, or otherwise held, for the pur-
pose of being used in whole, or in part, in any
process or operation of manufacturing. combi-
ming, rectifying, refining, which from time
to time he shall have had on hand during the
year next previous to the time of making such
statement ifso long he shall have been engnged
in such manufacturing business, and il not,
then during the time he shall have been SO en-
gagged.
Sec. IL, Every person owning a manufac-
turing establishment of any kind, and every
manufacturer, shall list as part of his manufac
turer's stock, the value Of all engines and ma
chinery of every description, used, or designed
to be used, in any process Of refining or manu-
featuring, Except such fixtures as shall have
been considered as part of any parcel or parcels
of real property,) including all tools and impe-
! ments of every kind used, or designed to be
used, for the aforesaid purposes.
Sec. Is. Every person who shall have money
employed in the business of dealing in coin
notes. or bills of exchange, or in the business
| of dealing in, or buying, or shaving any kind o
, bills of exchange, cheeks, drafts, bank notes
promissory notes. bonds, or other writing oblg
atory, or stocks of any kind or description what
soever, shall be held TO be banker, broker, ol
!, stock-jcbber; and be shall, when he is required
to make out and deliver TO the nssessnr state
ment Of the amount or value of his other per
sonal property subject to taxation, also include
il. his statement the average value estimated
:, as provided in the twelfth section of this act
I of all moneys, notes, bills of exchange. bonds
{; stocks, OF other property nppertaining to hi
d business as banker, broker, or stock-iob5er
e which he shall have had from time to time II
= his possession or under his control during th,
o wear next previous to the time of making sucl
statement, if so long ne shall have been engaged
= in such business, and If not, then during TN
d time he shall have been so engaged.
n See. 16 That when any person shall com
= mence merchandising in any county after tn
e first day of June, in any year. the average val
2, ue of whose personal property employed II
e merchandising shall not have been previousl
e entered on the assessors list for taxation, II
e said county. such person shall report to the au
i ditor of the county, the probable average valu
It Of the personal property by him intended to b
n employed in merchandising until the FIRST la
of May thereafter. and shall pay into the treas
t ury of such county, sum which shall bear tb
s. same proportion to the levy for all purposes,
re the average value so employed, as the tim
s. frorn fha dav which he shall N,