The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-02-01
Continued from Firs. Page.

age value of such 2rucies OF personal
property which he shall have had in his
posse ssion or under his control during
lie year next preceding the first of Feb
ruary preceding the time of making such
statement or during that portion of said
year which he may have been engaged
in said business; and said statement shall
/, be verified on OATH
"In order to arrive at the average
value of property, he shall state the
amount on hand, as nearly as may be,
in each month in the preceding year. or
such portion thereof as he may have
, taen engaged in such business. then add
! tin monthly estimates and divide by the
number of months he may have been en-
gagged in business. No eonsignee shall
be required to list for taxation any prop
erty consigned to him for the mere pur-
pose of being forwarded
Every person, company or corpora
ton who shall hold or purchase personal
property for the purpose of adding to
the value thereof by any process of
manufacturing. refining, or By the COM
bination OF different materials, shall be
held TO be a manufacturer; and when
such person, company or corporation
shall be required TO make out state
taxation. he or they shall state the aver
age amount of all articles purchased or
held for the purpose Of being used in
such process of manufacturing. refining
or combining which he or they NAV have
had on hand during the year next preced-
Ing the first day of February preceding
the time of making such statement
which amount shall beas certained bv
stating the amount OF such property on
hand in each month of the preceding
year, or such portion thereof as he or
they may have been engaged in such
business then add the several monthly
estimates. and divide the aggregate by
the number of months he or they may
have been engaged in such business: and
such statement shall be verified on oath
Every manufacturer shall list the
value of all engines. tools and machinery
OF every description not forming part or
parcel Of real property used or designated
to be used in any process OF manufac-
turing defined in this act
For the purpose of determining the
true value of the stock of any merchant
or manufactures, the assessor shall have
the right to demand of such merchant or
ventories and all books OF account for the
preceding year, including the annual in
voice and inventory OF stock made py
such merchant or manufacturer last pre-
ceding such assessment. and the poll |
cies of insurance carried bu such manu-
facturer on the stock for the year next |
preceding his assessment
This provision will also interest mer-
chants: Debts owing in good faith by |
any person, company or corporation may |
be deducted from the gross amounts of |
credits belonging to such person. COM |
pany or corporation; provided, such debts |
are not owing to any person, company OF |
corporation as depostors in any bank,
banking association or trust company.
or with any person or firm engaged in |
the business of banking in this state or |
elsewhere; and the persons. company or |
corporation making out the statement of |
personal property TO be given to the as
SCISSOR, claiming deductions herein pro-
vided for, shall set forth both the amount |
and nature of the credits and the amount |
and nature of his debts sought to be de-
Quoted; but no person, company or cor
poration shall he entitled to any deduc-
ton on account of any bond, note or OBJ
legation given to any mutual insurance
company or deferred payment or loan
for policy of life insurance, nor on ac-
count of any unpaid subscription to any
religious, literary, scientific or benevo-
lent institution or society; provided, that
in deducting debts from credits. no debt
shall be deducted where said debt was
created by Ion on government bonds or
other taxable securities -