The Harrison times., 1912-06-08


view to sale at an advanced price OF
| profit, or which has been consigned t
! him for sale,
9. Manufacturer" shall include every
| person who purchases, receives or holds
! personal property Of any description
! for the purpose of adding to it's value
! by any process OF refining, manufaC
ture. rectifying or by the combination
Of different materials with the view oI
making gain or profit thereby.
10. Money" or moneys" shall bt
held to mean gold or silver coin, treas
ury notes, bank notes and other forms
Of United States currency in common use
in actual possession; also every deposit
which any person residing in this State
| owning the same or holding in trust, OF
having the beneficial interest therein
Is entitled 20 withdraw in money on de
mand within this State or elsewhere.
II, The term Investment in bonds
shall include all money invested IN
bonds OF whatever Rind or certificate
OF Indebtedness commonly called scrip
whether issued by incorporated or unin
corporated companies, towns, cities
counties or states held by persons re-
siding IN this state, either by them
selves or by others for thom, in or oui
Of this State whether for themselves OF
as guardians, trustees or agents.
IL, The term investments In stocks
shall be held TO include all moneys
invested in public stocks Of any associa'
tion corporation or Joint stock com
pany whose stock or capital is divided
into shares, which are transferable by
each owner without the consent OF the
other owners or stockholders, and for the
taxation Of which no special provision
is made by this Act, held by persons
residing in this state. either for them
selves or as guardians, trustees, OF
State for them.
49, The term credits" shall be held
TO mean the excess OF the sum OF all
legal claims or demands for money OF
other valuable things, or for labor OF
service due or 10 become due, TO the per.
son liable 20 pay the taxes thereon, IN
cludng annutieS or sums OF money re-
ceiyed at stated periods due or 70 be
come due, all claims and demands Sc
cured by deed Of trust OF mortgages
due or TO become due, when added to-
gether (Puch claims or demands to be
estimated at their fun value in money!
over and above tho sum OF the legal
and bona ilde debts owing by such per
son, There shall not be taken into ac-
count any obligation 10 any mutual In
Sur0nco company; nor any unpaid sub
ScrlptOn TO the capital stock of any
joint stock company; nor any subSCrip7
tIOn to any religious, scientific literary
or charitable purpose; nor any acknowl-
cdRmont Of any indebtedness unless
received, and believed at tho time Of
making such acknowledgment 20 be a
full consideration therefor nor any aCr
acknowledgement Of debt made for the purz
pose Of diminishing the amount OF
credits 10 be listed for taxation; nor
any greater amount or portion of any
liability rs surety than the person re-
QuIrcd 20 mako the statement Of such
credits believes that such surety Is IN
equity bound ana viii be compelled %
pay or contribute,
Section 6, No assessment OF property
for purposes OF taxation and no tax
authorized by law, levied upon any
property by any officer or board au-
thor2cG 20 mako ana lcyy the same,
shall be held invalid FOR want Of any
matter or form In any proceeding which
does not affect tho merits OF the case
and which does not prejudice the rights
of the party whose property Is assessed
or against whose property Il tax Is
levied An such aseessmonts and levlcs
shall be presumed 20 bo legal until the
contrary IL NillrmOtIvcly shown; ana
no sale Of real estate for the non-puy-
mcut OF taxes thereon shall be rendered
invalid by showing that any certificate,
return, affidavit or other paper, required
10 bo made and filed IN any Office ia not
In such 0lllee, but until tho contrary Ia
shown the presumption shall be In all
cases mat such paper was proporly
mud0 ana lllod,
Section 2, Al property subject to
taxation shall be listed and usHossod
every year with reference to ita value
on February nrst preceding tho agsosa-
ment.
Section s, All property shall bc as
soasod ut ita true ana run value In
b..
assessing ana cQuoli2lng otllccr or officers
shall not adopt n lower or different
standard OF value because tho Rump a.
10 arrV0 ua n basis Of taxation, nor
shall the prluo for which property
would sell ht auction or forced sale be
adopted M criterion of value, Tho
officers shall value each article or de-
Horpuon Of property by itself ana ul
puch sum or price Ua they believe the
ramo to be- fairly worth in money
In Hs1uHHIng any tract or lot Of real
estate the value Of the land exclusive
Uf structures ana improvements shall
be determined, ana also the value of an
structures ana improvements thereon.
ANA the aggregate value Of all property,
including all structures and Improve
muulH,
Section 0, AZ every general election
an HsHrHROr shall ha elected I'm each
county IN tho State IN tho same manner
HR other county officers are elected
Tho term of office OF each assessor shall
BEGIN the first day Of January the year
after he iE elected aud shall continue
TOR two years or uutll Mis- successor lg
elected uud qualified
Section TO- Every person elected or
appointed tu the office Of uaHeaaur RhHll
within thirty days after the receipt Of
his commission, ana before he uuRliReR
enter into bond with tho state Of Ar
kansas with good ANA sufficient RpruFity
IN the sum Of not leHs than liye thousand
nor moro than ton thousand dollars
tiho amount 10 bo fNod by tho county
eourO, conditioned for the faithful dis
charge or his official duties Said bond
shall be approved by the county Judge,
The assessor shall be liable on hiR Of
fetal bond to tho State county Rnd
each Of tho several school districts. fOnd
Districts, cities hnd Incorporated towns
IN his county for all damages sustained
by tho state, county ANA each dlHlIpt
or town by reason Of any refusal on
hlH part ~ AhHrHH any property at itH
true ana run value in money or 90 dis
charge any duties imposed upon him
hy law, or t0 discharge such duties I'm
the manner .ptes1rhei by law Such
DAMAGES RhHll hu recovered in tho HuWo
manner nu dnmnWrn are recovered ON
other ofloul bonds The assessor shall,
also NJ the tine he UuHlinuH, take tho
cath prescribed hN section Ah article
49, Of Constitution OF Arkansas.
Failure t0 give the above prescribed
bond or ~ take the ohth shall be deemed
TO be refusal 10 serve
Section H. Every uHsrFHOr, each year
before hr enters upon tho discharge OF
hm duties, shall IN addition 10 tho onth
prescribed IN section 10 hereof, take The
following oath or affirmation which
oath shall be endorsed on each OF the