The Huttig news., 1912-06-01

| O.
 person who owns, or has in his possession
 or subject to his control with authority
 to sell the same, any personal property l within this State, purchased with the view to sale at an adYafaeed price or
 profit. or which has been consigned to | him for sale
 | g. Manufacturer shall include every
 person who purchases, receives or holds
 for the purpose of adding to its value l by any process of refining manufac- l ture, rectifying or by the combination
 of different materials with the view of making gain or profit thereby. l 10. Money" or moneys" shall be
 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, or | having tie beneficial interest therein
 is entitled to withdraw in money on de- l mand within this State or elsewhere. II. The term investment In bonds" 1 shall include all money invested in | bonds of whatever kind or certificate | Of indebtedness commonly called scrip, l whether issued by incorporated or unin-
 corporated companies, towns. cities. 1 counties or states, held by persons re- 1 siding in this State, either by them 1 selves or by others for them, in or out 1 of this State whether for themselves or as guardians. trustees or agents 1 f2. The term Investments in stocks" 1 shall be held to include all moneys l invested In public stocks of any associa- 1 tion corporation or joint stock com l pany whose stock or capital is divided
 into shares. which are transferable by l each owner without the consent of the otner 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. 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 other valuable things. or for labor or service due or to become due, to the per son liable to pay the taxes thereon, fn- cluding annuities, or sums of money re- ceiyed 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 tsuch claims or demands to be estimated at their full value in money) over and above the sum of the legal | and bona fide debts owing by such per son. There shall not be taken into ac- l count any obligation to any mutual in suranee company; nor any unpaid sub | scription to the capital stock of any l joint stock company; nor any subscrip- | ton to any religious. scientific. literary | or charitable purpose; nor any acknowl- | edSment of any indebtedness unless l founded on some consideration. actually
 
 | making such acknowledgement to be a 1 full consideration therefor, nor any ac- | knowledgment of debt made for the pur. pose Of diminishing the amount of any greater amount portion of any | liability as surety than the person re quired to make the statement of sucf | credits believes that such surety is il equity bound and will be compelled t l pay or contribute.
 1 Section 6. No assessment of property | nd fa \ | authorized by law, levied upon any | property by any officer or board au- | thorized to make and levy the same | shall be held invalid Tor want of any | matter or form in any proceeding which 1 does not affect the merits of the case i and which does not prejudice the rights 1 of the party whose property is assesse or against whose property a tax Is | levied. All such assessments and levies shall be presumed to be legal until the contrary is affirmatively shown: and no sale or real estate for the non-pay- ment of taxes thereon shall be rendered invalid by showing that any certificate. return. affidavit or other paper. require :; to be made and filed in any office is not
 in such office. but until contrary is shown the presumption shall be in all cases that such paper was properly made and filed.
 Section 7. All property subject to
 taxation shall be listed and assesse ! every year with reference to it's value
 on February first preceding the assess ment.
 Section 8. All property shall be as-
 sessed at it's true and full value in | money In determining its value the assessing and equalizing officer or officers shall not adopt a lower or different standard of value because the same is t. serve as a basis of taxation nor shall the price for which property would sell at auction or forcel sale be
 adopted as a criterion of value The
 officers shall value each article or de- scription of property by itself. and at such sum or price cs they believe the same to be fairly worth In money In assessing any tract or lot of real estate the yalne 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 | including all structures and improve
 ments.
 Section g. At every general election
 an assessor shall be elected in eaci,
 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 | tor two years, or until IFS successor is
 elected and qualifiel.
 1 Section Q. Every person elected or appointed to the office of assessor shall within thirty days after the receipt O. | his commission. and before he qualities enter into bond with te State of Ar l karsas with good and sufficient security 1 in the sum of not less than five thousand | TOT moro than ten thousand dollars | tie amount to be fixed by the count 7 l court), conditioned for the faithful dis Q arge of hts official dlties Said bon | shall he approved by the county iu lge. 1 The assessor shall be liable on his of 1 ncial bond u the State. courtv and | each of the several school districts. road 1 q Stricts. cites and incorporated towns | n his county for all da na -es sastaina | by the State, county an' each I strict
 or town by reason Of any refusal on 1 hts part te aSsnss any prp~eetv at it's true and full value in money. or U q s | charge any duties imnoseI upon him | hy law. or to discharge slch duties il,
 the narrer prescribed by law. Such l damages shell le recovered in the same | manner as daDe ges are recovered OF | other ofiic al bonds. The assessor shall also at the tire he qua t.cS, taXe tae | tn prescri ta by section on. article f9 Of carstifution ef hh.Asa- l Failure to give the above prescribe | bond or to take the oath shall be deemei | l to be refusal to serve.
 | Section H. Every assessor. each yea
 fore lie enters upon the lscharge 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- l livery to the asscSsor.
 l q, .......... assessor for .. l County. do sofemnly swear that all real | and narSanaI nroDarfv aaSaaSa5 b,, i.