Pine Bluff daily graphic., 1912-06-01

m sc, al possession; q: so every deuos:, "'ilci. any person r-sialng in this State owning l'ie same or holding in trust or n; ing t.e beneficiai interest therein $ entitled to Withdraw in money on de. inand within this State or elsewhere
 II; Ihe term Investment in bonds shaIi include all money invested m bonds of Whatever kind or certificate of Indebtedness commonly called s.rin Whether issued by incorporated or unin- cofporated companies. towns cities counties or states, held ;y persons re- slulhs m this State, either by them selves or by others for them. in or ont of this State whether for themselves or as guardians. trustees or agents
 IT, The term investments in stocks snail be held to include all moneys invested in public stocks of any associa- 'loh 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 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.
 l3. 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 service due or to become due to tile per son ilabie to pay the taxes thereon. in- cludlng annuitieS or sums of money re- ce1Ned at stated periods. due or to be- come due. all claims and demands se- cured by deed of trust of mortgages due or to become due when added to- gether (Such claims or demands to be estiNated g their fuli value in moneyj over and above the sum of the legal and bona fde debts owing by such per son. There shah not be taken into ac- count any obligation ro any mutual in- p n.IT m. 11fr scription to the capital stock of any Joint stock company; nor any subscrip tion to any religious, scientific. literary or charitable purpose; nor any acknowl- edEment Of any indeut ednesS unless Founded on some consideration actually received. and believed. at the time of making such ledgment to be fnll consideration therefor, nor any ac- knowledement of debt made for the pur- pose of diminishing the amount of credits to be listed for taxation: nor any greater amount portion of any liability as surety than the person Gured to make the statement of such credits believes that such surety is in equity bound and will be compelled to pay or contribute
 section (. No assessment of property for purposes of taxation and no tax authorized by law levied upon any 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 the merits of the case and which does not prejudice the rights of the party whose property is assessed or against whose property tax is levied All such assessments and levies shall be presumed to be legal until the i contrary is attirmatively shown; and no sale of real estate for the non-pay- ment of taxes thereon shall be rendered invalid by showing 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 cases that such paper was properly made and filed.
 Section :. 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 s. All property shall be as- sessed at it's true and full value in money. In determining it's value the assessing and equalizing officer or officers shall not adopt a lower or different standard of value because the same is to serve as a basis of taxation, nor would sell at auction or forced sale be ] asiopted as a criterion of value. The officers shall Value each article or de- scription of property by Itself. and at same to be fairly worth in money.
 In assessing any tract or lot of real estate the value of the land exclusive of structures and improvements shall be determined. and also the value of all structures and improvements thereon. and the aggregate value of all property, l including all structures and improve mentS.
 Section 9. At every general election an assessor shall be elected in each county in the State in the same manner as other county officers are elected. The term of office of each assessor shall begin the first day of January the year | after he is elected and shall continue | for two years, or until his successor is elected and qualified. p.
 Section l0 Every person elected or appointed to the office of assessor. shall. within thirty days after the receipt of his commission, and before he Qualifies. enter into bond with tine State of Ar kansas with good and sufficient security in the sum of not less than five thousand nor more than ten thousand dollars | tthe amount to be fixed by the county court. 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 ficial bond to the State. county and each of the several school districts. road districts. cities and incorporated towns 1 in his county for all 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 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 damages shall be recovered in the same
 manner as damages are recovered on other official bonds. The assessor shall. 4 also at the time he qualities. take the oath prescribed by section 20, article i1s, of Constitution of Arkansas i! Failure to give the above prescribed 1 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 l oath shall be endorsed on each of the
 assessment books prior to their de | livery to the assessor.
 "I ......!.. assessor for .......>
 County, do solemnly swear that all req and personal property assessed by mt
 win be appraised at it's true and ful Eyalue in money: that in no case will
 knowingly assess property at anything l less than it's true and full value 1T l money; that I will not knowingly omit
 to demand of any person. of whom
 may be by law required to make sucf
 demand. a statement of the description land value of the property which he may