Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1856-04-16

State, not subject to taxation under the provisions Of
this act. or with banks, bankers, or other persons not
within this state.
SECTION 4. Money shall. for every purpose Of assess
ment and taxation hereafter. he held TO be personal
prOperty-and the term personal property" WHEREBY
er used in this act. or in the act to which this is amepd-
atory, shall be held to extend to and include money.
SECTION ). The term '~teredits,r wherever used in
this act or in he acts 10 which this is amendatory
shall be held TO mean the excess Of the sum OF all legal
claims and demands, whether for money or other val
uibie thing. or for labor or service due or to become
due to the person liable to ply taxes thereon. including
! deposits in hanks or with persons in or out OF TINS
State, other than such as are held 70 be money as de
fined by the fifth division Of the third section, when
added together. estimating every such claim ordemand
! at its true value in money! over and above the sum OF
the legal. bona fie debts owing by such person. But
in making mp the sum Of such debis owing, there shall
be taken into account no obligation o any mutual in
surance company. nor any unpaid subscription to the
capital stock 0fany joint stock company. nor any sub
s~cription for any religious. scientific, literary, or char
liable purpose-nora any acknowledgment Of indebted
ness unless founded on some consideration actually
received and believed at the time OF making such a-
acknowledgement to he a full consideration therefor; nor
airy acknowled gment Of debt made for the purpose Of
diminishing the amount of credits to be listed for tax
ability as surety, than the person required to make a
statement OF such credits believes such surety is in
equity bound, and viii be compelled to pay, or to con
tribute, In case there be co-secufities
SEXTON 6. No person shall be- required to list for
taxation any certificate OF the capital stock ofany com
pany the capital stock and property Of which is taxed
IL a IdMG U EAAu GDlAIaLLs LGDltlEA O
every description and credits, shall be assessed in the
name Of the person who was the owner thereof on the
day next preceding the second Monday OF April In the
year In which such assessment shall he made. Irany
person shall, for the purpose Of avoiding the listing or
the payment Of taxes on any property subject TO taxa
iion' sell, give away, or otherwise dispose Of any such
property under or subject to any agreement expressed
or implied. or any understanding with the purchaser,
donee or recipient thereof, that the same is toll e recon-
yeyed, restored, or redelivered TO the person so dis
posing OF such property. he shall forfeit and pay for
the use Of the county double the amount flax, charge
able on such property for the current year.
SECTION 4. Every hank shall annually, between the
first and the serond Monday Of May, make out. an I On
the demand OF the assessor, deliver 10 him a correct
statement. attesied by the oath Of the president or
cashier Of such bank, or il there be no president or
cashier. then by the oaths Of the principal manager and
the principal accountant OF such bank, setting forth
and specifying the mean amount Of the notes and bills
discounted or purchased, moneys loaned. and all other
property. effects or dues Of every description of and he
longing to such hank during the year ending the first
Monday Of May in the then current year; which state
ment the assessor shall deliver TO the county auditor
with his statements and lists Of personal property and
credits.
SECTION g. Such mean amount shall he ascertained
by adding together the sum Of the several items sneei-
fed in the preceding section. the property ofsuch tnk
and imploy ed in, or pertaining to its banking business.
as they existed on the first Monday of each Month, af-
ter the close Of business on those days, during the
year ending on the first Monday Of May, or doing such
par. Of the year as such hank shall have been doing
banking business. if1ess than the whole year. aud di-
viding the gross amount Of such monthly sums by the
number of months so aided together.
SECTION 9. Every bank shall at the time Of making
out and delivering to the assessor the statement equir-.
ed by the seventh section Of this act, also make out
and deliver to the assessor a statement verified, as re-
quired-in the said section, setting forth,
Rrst-The amount of capital. whether divided into
shares or not, actually paid in or secured to be paid
by note or otherwise, or in any manner procured or
furnished to be employed in its banking business.
SeeOad-The amount of undivided profits Srisins
from such business belonging TO the bank, whether in
the possessi IN or subject TO its control, or loaned or
otherwise invested for its benefit
Third-The amount Of moneys loaned to or deposit
ed with such bank for a term certain, or which. by
or understanding between the parties, are
not to be withdrawn on demand witch several
amounts shall truly represent the condition of the
means. property and assets Of the bank described in
this section, as they shall have existed on the day next
preceding the second Monday in April, and shall ba
be deemed the amount Of property employed in bank
ing for the, then. current year by such bank.
SECTION 10. The assessor shall return to the county
auditor the statement described in the foregoing sec
tion made by any hank in his township or ward, with
the statement required of such banks by the seventh
section OF this act.
SECTION IL. The county auditor shall enter upon his
list Of taxable property, and on the tax duplicate for
the, then. current year, to be delivered TO the county
treasurer the gross amount Of the notes or bill dis
counted or purchased, moneys loaned, and all ether
property, effects or dues OF every description, without
Of every bank in his county, a~greeably TO
the statement made by such bank in accordance with
the seventh section Of this act, and returned to him by
the assessor. and shall charge on such gross amount so
entered on the tax duplicate such rates of taxes as will
produce the came sum as would be produced by clarg-
ing on the amount Of property employed by such bank
in bankins-ascertained as provided in the ninth sec
the same rates Of tax as are charged, fer the same
year, on the property of individuals in the township,
village or city in which such bank is stu
or transacts its banking business.
SECTION u. That nothing in this act shall be so con
sirued as to require to be listed for taxation, any in
yestments made in certificates OF the public debts of
State, nor shall this act apply to any bank or cor
poration which, by any Of the provisions Of the consti-
luton Of the United States, can only be taxed accord
ing to the terms Of its charter. and every such hank or
Dther corporation shall be taxed in accordance with the
provisions Of its charter.
SECTION I3. The Ohio Life Insurance and Trust Com
PSny. by its President and Cashier, or Assistant Cash |
shall, on CT before the first Monday Of May in each
year, make out 4 statement aitested by the oath Of said
Ulcers, of its moneys loaned. and its dues OF every
iescriI ton, in the several counties in which it shall
any such loans, and have any such dues, as they |
,Nisted on the day next preceding the second Monday /
April previous, and transmit the same immediately
o the County Auditor Of such counties respectively,
sho shall seyerally enter the same upon their tax lists,
md charge the same with the average rate of taxes lev |
ed for all purposes on personal property throughout
heir respective counties, and the said COMPANY shall i
make out and deliver TO the assessor for the ward in ]
which its principal Office Is located, the statement re- |
lu'red OF other banks by the seventh and ninth sections
,fthis act, in the manner such other banks are requir- !
d to do, in regard TO ali its taxable property and cred /
IS. not returned to the several counties as hereinbe- |
ore described, which property and. credits shall be
axed in the same manner as those OF other banks.
SECTION H. Sections ten, fifteen, nineteen, twenty l
md twenty-five, Of the act entitled IAN act for the as
or levying taxes thereon according 10 its true value in
passed April 10. 1859, are hereby repealed.
SECTION Is This act shall take effect and be in force
rom and after the first day Of Ap-il, LIST.
N. II. VAN Y0RHES.
Speaker OF the House Of Representatives.
WILLIAM LAWRENCE.
President OF the Senate, Pro ten.