Sharp County record., 1912-05-31
:. on,ainsd tberefor at private sale and

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nerson who owns, or has in his possession
or subject to his control, with authority
| TO sell the same, any personal property
within this State, purchased with the
! view to sale at an advanced price or
profit, or which has been consigned TO
| him for sale.
person who purchases, receives or holds
personal property Of any description
| For the purpose Of adding to Its value
| by any process Of refining, manu1ac-
tiire, rectifying or by the combination
of different materials with the view VI
making gain or profit tnepepyh, hu ha
held to mean gold or silver coin, treas
urv notes. bank notes and other forms
of United States currency In common use
in actual possession; also every deposit
which any person residing In TINS state,
owning the same or holding in trust, or
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
shall include all money invested III
bonds of whatever kind or certlhcate
of indebtedness commonly called scrip'
whether issued by Incorporated or unin-
corporated companies, towns. cltles'
counties or states, held by persons re-
siding in this State, either by them
of this State whether for themselves or
as guardians, trustees or agents.
~, The term investments IN STOCKS
shall be held to include all moneys
invested in public stocks OF any assocla-
ton corporation or joint STOCK com,
pany whose stock or capital Is divlueu
into shares, which are TRANSFERABLE py
each owner without the consent OF tne
other owners or stockholders and Tor tne
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, or
agents or by others In or out Oh thls
State for them. ,
13. The term fcredits' shall be heid
to mean the excess OF the sum Oh al
legal claims or demands for money OF
other valuable things or for labor OF
service due or to become due, to the per-
son liable to pay the taxes thereon, IN
cluding annulties, or sums or money re-
ceived at stated periods. due or 70 pc
come due, all claims and demands Sc
cured by deed of trust OF MORTGAGES
due or to become due, when added TO-
gether (such claims or demands TO pe
estimated at their full value in money
over and above the sum OF the legal
and bona flde debts owing by such per-
son. There shall not be taken into ac-
count any obligation to any mutual IN
surance company. nor any unpaid SUD
scription to the capital stock or any
joint stock company; nor any subscrlp-
tIon to any religious, scientific, Literary
or charitable purpose; nor any acknoWl-
edgment Of any indebtedness unless
founded on some consideration actually
received, and believed, at the time or
making such acknowledgment, to be IL
full consideration therefor, nor any ac-
acknowledgement of debt made for the pur-
al "a iqb
credits to be listed for taxation; nor
any greater amount or portion or any
liability as surety than the person re-
qured to make the statement or such
credits believes that such surety Is IN
equity bound and will be compelled to
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-
thorized to make and levy 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 tax IL
levied, All. such assessments and levies
shall be presumed to be legal until the
contrary Is afrmatively shown; and
no sale OF real estate for the non-pay-
mcnt of taxes thereon shall be rendered
invalid by showing that any certificate,
return, affidavit or other paper, required
to be made and fled In any Office Is not
In such Office, but until the contrary IL
shown the presumption shall be In oil
cases that such paper was properly
made and filed. a
Section 4 All property subject to
taxation shall be listed and assessed
every year with reference 10 It's value
m in 80 rgt hA
ment
Section s, All property shall be as
sessed at Its true and full value In
money In determining It's value the
assessing and equalizlng officer or officers
shall not adopt o lower or different
standard OF value because the same IL
to serve as q basis of taxation, nor
shall the price for which property
would sell ut auction or forced sale be
adopted as q criterion OF value. The
officers shall value each article or de.
serlption or property by itself, and at
such sum or price rs 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
bo determined, and also tho value OF all
structures and improvements thereon,
and the aggregate value of all property,
including oil structures and Improve
ments
Section 0, At every general election
an assessor shall be elected In each
county In the State In the same manner
us other county officers are elected
Tho term OF Office Of each assessor shall
begin the first day Of January the year
after he IN elected and shall continue
FOR two years, or until MIS- successor In
elected and qualified.
Section 10, Every person elected or
appointed to the office of assessor, shall
within thirty days after the receipt OF
his commission, and before he auaiiaea,
onter into bond with the state or Ar.
kansas with good and sufficient security
In the sum or not less than Ave housand
nor moro than ten thousand dollars
tthe amount TO be fixed by the county
court, conditioned for the faithful dis
charge or his ofllcial duties Said bond
shall be approved by tho county fudge,
Tho assessor shall bo liable on HIS OF.
foInl bond 70 tho State, county and
each Of the several school districts, rond
districts cities and Incorporated towns
In his county for oil damages sustained
by the State, county and each district
or town by reason OF any refusal on
his part TO assess any property at It's
true ana full value In money, OF 10 dIas
charge any duties imposed upon him
by law, or to discharge such dutlea I'm
the manner prescribed by law, aueh
damages shall be recovered In the same
manner hs damages are recovered on
other offlela1 bonds The assessor shall,
also at the time he qualities, take the
nth DrpHrrlbn1 by Epptiou % artiei n