Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1858-05-29


lcurrent value. All credits except those
Iexpressiv exempted by this act, shall b
listed for taxation; and if such credit call
for specific article, Or for certain mum
Der or quantity of any articles of property
or specific amount of labor services, i
shall be valued at the current price Of such
property, labor or services, at the place
where payable; but nothing in this act
Isllall be SO construed as to include for ia Y
alton, unliquidated c.e Its, in the form Of
book accounts, when having no connection
with the loaning Of money. Annuities
shall be valued at such price as the person
listing the same belives them to be worth
10 money. ALI manufactured articles re-
naming unsold in the hands Of the manu-
facturer shall be valued at the cost Of the
materials entering into their composition
Sheep shall be valued without reference 10
the value Of the unshorn fleece. 10 pos
son shall be required to list greater por-
ton of any credit than he believes to be
collectable, nor any greater portion of al
| obligation given for rent than the amount
Of the rent that shall be actually due. In
making up the credits, which any person
is required to list for himself Or for any
any other person, company or corporation,
be shall be entitled to deduct from the
gross amount of such credits, the bona fide
debts owing by himself, such other person,
company or corporation, as the case may
be. But no acknowledgements Of indebt
edness, not founded on actual consi,lera
ton, shall be considered debt, within
the meaning Of this act And SO much
only Of any liability, as security for Others,
as the person making out the statement
believes the person is legally and equlta-
| bly, bound to pay on account of the nabll
ity Of the principal debtor, shall be deduct
| ed from credits.
MERCHANTS AND MANUFACTURERS.
See. 7. Every person that shall own, or
hold in possession, subject to his control,
any personal property within this State,
which shall have been purchased with a
view Of being sold at an advanced price or
profit, or which shall have been consigned
to him for the purpose Of being so sold,
shall he held to be a merchant, and when
ever he shall be required, according to the
provisions Of this act, to make out and de-
liver to the assessor a statement OF his
other personal property, "he shall include
in such statement such personal property"
appertaining to his business as a merchant
and in estimating the value thereof the
assessor shall take the average value Of all
such articles Of personal property, which
the said merchant shall have had in bis
possession or under his control, during the
the year next preceding the time Of max
ing such statement, if he snail have been
50 long engaged III such business, and It
not SO long, during the period that he
shall have been SO engaged; and the aver
age value Of such property shall be aseer-
tanned by estimating the amount Oh hand,
as nearly as may be; Provided, That no
consignee shall be required TO list for taxa
ton the value of any property consigned
to him, for the purpose OF being stored or
forwarded, if he shall have no interest III
such property, nor in any profit to be de
rived from its sale. The word ''pe'son,
as used in this and the four succeeding
sections, shall be held to mean and include
company, ''iirm," Or corporation as
the sense may require.
Sec. s. Every person who shall COM
mence merchandising, in any town, city,
or village in this State, after the first Mon
day Of July in any yen, aud the average
value of whose personal property SO EN-
ployed, shall not have been entered on
the assessors list for taxatlon, shall report,
under oath, to the clerk of the board Of
supervisors Of the couBty in whichc.he #
engaged in such business, the proba6H
amount of the average value Of such POI
sonal property, intended by him to be So
lemployed, land such amount shall be eneft-
ed by said clerk on the assessmentIoll of
such town or city, as if the same had Deem
ente ed by the proper assessor when list
ING property for taxation; Provided, That
| if such report shall not have been made to
the said clerk of the board Of supervisory
before the 10th day Of November, the said
clerk, in bis official capacity, shall forth
with notify the clerk Of the towu or city,
in which such merchandising Is being car
ried on, of the amount Of such property TO
BE SO employed, and the name OF the per-
son IN which such property shall be listed,
land the clerk of such town or city, shall
cause the same TO be entered Oil the list OF
properly for taxation, with the amount OF
tax to be collected therefrom, and such tax
shall be collected in the same manner as If
the entry of such property had been made
| by the assessor.
SEC. 8 Every person who shall pur.
chase, receive or hold personal property
for the purpose Of adding to the value
thereof by any process Of manufacturing,
refining, rectifying, or by the combustion
| of different materials, with a view to MAX
| ing any profit thereby, shall be held to be
| a manufacturer; and such person shall,
when required to make out and deliver a
statement Of other personal property, also
state the articles purchased or held for the
purpose of being used in any process OF
manufacturing, combining, rectlfylng or