Pine Bluff daily graphic., 1912-06-22

Il,
 having the beneficial interest therein
 IS entitled to withdraw in money on de
 mand within this State or elsewhere
 II; The term Investment in bonds
 snail include all money invested in
 ponds of whatever kind or certificate
 or indebtedness commonly called scrip.
 whether issued by incorporated or unin-
 cofporated companies, towns cities
 counties or states, held by persons re-
 siding in this State either by them
 selves or by others for them, in or out
 or thls state whether for themselves or
 as guardians, trustees or agents.
 lZ. The term investments in stocks
 shall be held to include all moneys
 invested in public stocks of any associa- ton corporation or joint stock com pany whose stock or capital is divided
 into shares. which are transferable by
 eich owner without the consent of the "thef owners or stockholders, and for the
 taxation of which no special provision Is made by this .>ct, held by persons residing in this State. either for them selves or as guardians, trustees, or agents or by others in or out of this State'for them.
 ls. The term credits shall be held to mean the excess of the sum of all legal claims or demands for money or othef valuable things. or for labor or sefNlce due or to become dnc. to the per son ilable to pay the taxes thereon in cl.idlng annnities or sums of money re- celVed at stated periods. due or to be- come due. all claims and demands se- cured bN deed of trust of mortgages. que or to become due. when added to- gether fsllch cla inns or demands. to be estimated at their fuli value in money) over and above the sum of the legal and bona fide debts owing by such per son: IheFe shall rot be taken into ac count any obligation to any mutual in shfanre company; nor any unpaid sub Scilptloh to the capital stock of any Joillt stock company; nor any subserip non to any religious. scientific. literary or charitable purpose; nor any acknoWl- edsment of any indebt edness unless founded on some consideration actually received, and believed. at the time of making such acknowleGe ement to be a iuil consideration therefor, nor any ac- knowiedsment of debt made for the pur- pose of diminishing the amount of credits to be listed for taxation; TOT any greater amount or portion of any liability as surety than the person re- quired to make the statement of such credits believes that such surety is in equity bound and will be compelled to pay or contribute.
 Section 6. No assessment of property TOT purposes of taxation and no tax authorized by law, levied upon any property by any officer or board au- thoriZed to make and levy the same snail be held invalid for want of any
 matter or form in any proceeding which does not affect the merits of the case and which does not prejudice the rights or the party whose property is assessed or against whose property a tax is shall be presumed to be legal until the contrary is affirmat lively shown; and no sale of real estate for the non-pav- meht Of taxes thereon shall be rendered nat' ,ntania pS sho"lns that any certificate. return. affidavit or other paper required to be made and filed in any office is not in such office. but until the contrary is shown the presumption shall be in all made and filed.
 Section z. All property subject to taxation shall be listed and assessed every year with reference to it's value on February first preceding the assess ment.
 Section 8. All property shall be as- sessed at its true and full value in money. In determining it's value the . assessing and equaliziag officer or officers snail not adopt a lower or. different standard of value because the same is to serve as a basis of taxation. nor shall the. price for which property would sell at auction or forced sale be adopted as criterion of value. The officers shall value each article or de- scflptlon of property by itself and at such sum or price as they believe the same to be fairly worth in money.
 In assessing any tract or lot of real estate the value of the land exclusive or structures and improvements shall De determined. and also the value of all structures and improvements thereon. and the aggregate value of all property including all structures and improve ments.
 Section 9. At every general election an assessor shall De elected i,, each county in the State in the same manner The term of office of each assessor shall begin the first day of January the wear arter he Is elected and shall continue TOT two years. or until his successor is A tod o
 Section 10. Every person elected or appointed to the office of assessor. shah within thirty days after the receipt of his commission. and before he quaiifies, enter into bond with the State of Ar kansas with good and sufficient security Tn the sum of not less than five thousand nor more than ten thousand dollars tthe amount to be fixed by the county eourt). conditioned for the faithful dis charge of his official duties Said bond shall be approved by the county judge. The assessor shall be liable on his Of hcial bond to the State. county and each of the several school districts, road m amlstricts. cities and incorporated towns m his county for all damages sustained by the State. county and each district or town by reason of any refusal on ms part to assess any property at it's true and full value in money, or to dis charge any duties imposed upon him by law. or to discharge such duties in the manner prescribed by law Such shall be recovered in the same manner as damages are recovered on other official bonds. The assessor shall. also at the time he qualities, take the oath prescribed by section 20, article 19, of Constitution of Arkansas. Failure to give the above prescribed bond or to take the oath shall be deemed to be refusal to serve.
 Section II. Every assessor each year before he enters upon the discharge of his duties, shall. in addition to the oath prescribed in section 10 hereof, take the following oath or affirmation. which oath shall be endorsed on each of the assessment books prior to their de- livery to the assessor:
 Il, .........., assessor for .,, County do solemnly swear that all real and personal property assessed by me will be appraised at it's true and full value in money; that in no case will I assess property at anything less than it's true and full value in money; that I will not knowingly omit to demand of any person. of whom I may be by law required to make such statement of the description and value of the property which he may be required to list. and that I will not in any way connive at any violation or evasion of the law with respect to the