M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1856-04-17

VI WIS aSti eiW W. HiN PN'PNsN W NN''|"o
out its provisions. /
SIC. 8. The word "money" and the word
moneys" whenever used in this act, OF in
the acts to which this is amendatory, shall,
for all purposes OF assessment and taxa tion,
be held TO bave the same meaning, and shall
be understood to mean and include,
First-Gold and silver coin;
Second-GOld and silver in bars or other
uncoined masses, whether the value be
stamped thereon or not;
ThiTd-Bank notes designed or calculated
to circulate as money, in all cases where
Such gold, silver, or bank notes shall be in
actual possession or subject 10 be brought
i'm nediately into possession.
Fourth-Deposits in banks or with per.
sons within this State. subject to be with
drawn BY check, draft, otherwise, in mon-
ey, on demand.
Fifth-Deposits subject to be withdrawn
ia money al any time within sixty days, in
banks within this State, not subject to TAX
alton under the provisions of this act, or
with banks, bankers, or other persons not
within this State.
SEC, 4. Money shall, for every purpose
Of assessment and taxation hereafter, be
held to be personal prOperty-and the term
personal property" wherever used in this
act, or in the acts to which this is am enda-
tory, shall be held TO extend TO and include
money.
SEC. 5. The term "credils," wherever used
in this act, or in the acts to which this is
amendatory, shall be held to mean the eI-
cess Of the sum of all legal claims and de-
mands, whether for money or other valuable
thing, or TO: labor or service due or 10 be-
come due to the person liable to pay taxes
thereon, including deposits in banks or with
persons in or out of this State. other than
such as dre held to be moneJ as defined by
the fifth division OF the third section, when
added together (estimatin ngevery such claim
or demand at its true value in money! over
and above the sum Of the legal bona fide
debts owing BY such person. But in MAX
ing up the sum of such debts owing, there
shall be taken into account no Obligation TO
any mutual insurance company, nor any
unpaid subscription to the capital stock OF
any joint stock company. nor any subscrip-
tion for any religious, scientific literary, or
charitable purpose-nOr any aCknowledg-
ment Of Indebtedness unless founded on
some consideration actually received and
believed at the time of making such acknowl-
edgment to be a full consideration therefor;
nor any acknowledgment of debt made for
the purpose Of diminishing the amonn of
credits 10 be listed for taxation; nor any
greater amount or portion OF any liability as
surety, than the person required to make a
statement OF such credits believes such sure =.
ty Is in equity bound, and will BE- compelled
to pay, or 10 contribute, in case There be CO.
securities.
SEC. 6. No person shall BE- required to
list for taxation any certificate of The cupi.
tai stock OF any company the capital stock
and property of which is taxed in tha name
Of said company. Personal property of ev-
ry description and credits, shall be assessed
in the name ofthe person who was the own.
er thereof on the day next preceding the
second Monday Of april ia the year in
which such assessment shall be made. If
any person shall. for the purpose Of avoid
ing the listing or the payment of taxes on
any property subject to taxation, 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 OF recipient there
OF, that the same is to be reconveyed, re-
stored, or redel elivered to the person SO dis.
posing of such property, he shall forfeit and
pay for the use of the county double the
amount of tax charseabe on sach property
for the current year.
SECTION Z. Every bank shall, annually,
between the first and second Monday Of
May, make out and on the demand OF the
Assessor, deliver to him correct statement
attested by the oathS Of the president and
cashier Of such bank, or if there be no pre-.
sident or cashier, then by the oaths of the
principal manager and accountant Of such
bank, setting forth and specifying the mean
amount of the notes aud bills discounted
or purchased, moneys loaned, and all other
property, effects or dues, of every descrip.
tion of and belonging to such bank during
the year ending the first Monday in May, in
the then current year; which statement the
Assessor shall deliver to the county auditor,
with his statements and lists Of personal
property and credits.
SECTION 8. Such mean amount shall be
ascertained by adding together the sum of
the several items specified in the preceding
section, the property Of such bank, and EN-
ployed in or pertaining to its banking busi-
ness, as they existed on the first Monday of
each month, after the close of business on
those days, during the year ending on the
first Monday Of May, or during such part OF
the year as such bank shall have been doing
banking business, if less than the whole
year, and dividing the gross amount OF such
monthly sums by the number Of months so
added together.
SECTION 8. Every bank shall at the time
of making out and delivering TO the assess
or the statement required by the seventh
section Of this act, also make out and de-
liver to the assessor a statement verified, as
required in the said section, setting forth,
First-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 10
be employed in its banking business.
SeCond-The amount of undivided profits
arising from such business belonging to the
bank, whether in its possession or subject to
its control, or loaned or otherwise invested
for its benefit;
Third-The amount Of moneys loaned to
or deposited with such bank for term GER
tain, or which, by agreement or understand.
ing between the parties. are not to be with
drawn on demand; which several amounts
shall truly represent the condition of the
means, property and assets of the bank des-
cr;hed IN 4hic coct;an ac thor eb.Il ho,.o -