The Sentinel=record., 1912-06-06
FOR ACT NO. l, AGAINST ACT NO. 1.

De II Enacted by the People of the
 State of Arkansas:
 Section 1. All property in this State real and personal, tangible and intan- Eible. not expressly by this Aci exempted therefrom shah be subject to taxation in the manner by this Act
 Section 2 All property described ir thls section to the extent herein limit wit
 1. All schoolhouses. academies. col leges, universities and seminaries of learning, with the books and furniture therein, and the ground attached to such nulidings, and necessary for the proper occupancy, use and enjoyment; this provision does not extend to property leased or otherwise used with a view to profit.
 2. All houses used exclusively for public worship, and so much of the lots or parts of lots upon which such houses < are situated IS may be necessary for the 4 proper use, occupancy and enjoyment < of same; such exemption shall not in- clude any property leased or in any manner used with view to profit
 3. All lands used exclusively for graVeyards, except such as are held with q view to profit or for purposes of speculation in the sale thereof.
 4 All property, real and personal belonging to the United States or to Y this State
 ~ 5 All property belonging exclusively
 
 E trict or improvement district held and employed exclusively for public pur- poses
 g. All buildings belonging to institu- ,tions of public charity. including orphan # bsylums, houses for the indigent and public hospitals, together with the lands < actually occupied by such institutions, not leased or otherwise used with a " view to profit, and all supplies furni- ture and personal property of every kind, including moneys and credits, ap- propriated solely to sustain and belong E ing exclusively to such institutions.
 :. All fire engines and other appa- ratus used for the extinguishment of E fires. with buildings used exclusively E for safe-keepng thereof. and for the meeting of fire companies whether be- longing to any to m or to any fire company organized therein.
 8. All public libraries and all real and personal property belonging to or connected with the same
 9. All property belonging to camp or grove meeting associations Sunday School assemblies, Young Mems Chris tan Assoeiations, societies for religious instruction or worship, expressly dedi- cated and necessary for their proper oc cupancy, use and enjoyment, and not leased or otherwise used with a view to profit
 10. All property belonging to and used exclusively for the purposes of any State, district or county agricultural society or industrial exposition.
 II. All public market houses. squares. parks and other public ground owned and used exclusively for public pur- poses. and all works. machinery and fixtures belonging to any town. and used exclusively for conveying water to said town or supplying said town with gas q electricity, not leased or otherwise used with a view to profit Section 2. Real property for the purposes of taxation, shall be construed to include the land itself and all build gfF md axrfsrft tnf1fg a.r other fixtures of whatever kind thereon. and all rights. privileges and franchises Ounless by this Act otherwise provided), thereto belongins CT in anywise per- tainfng; also all trees growing thereon, and all mines, minerals. quarries or fossils thereon or hereunder. Section. Personal property for purposes of taxation shall be construed
 l. All goods. chattels. moneys and effects
 2 All steamboats and other water craft employed in navigating the waters lying wholly or partly within this State. and all capital belonging to the inhabitants of this State. invested in Eteamboats steamships or other water craft. located without this State. pro vided the same is not taxed by another State or sovereignty.
 3. All Improvements made by others upon lands. the fee of which Is still vested in the United States or this
  structures, upon lands the titles of which are vested in any railroad com pany or other corporation whose prop erty is not subject to the same mode of taxation as other property. 4, All stocks of nurserymen ~end florists. growing or otherwise.
 5. All gas oil and water mains, pipes oonduits. subways wherever lar cated; all tracks roads and bridges 0f street railways turnpike and bridge companies, and all poles. wires and other apparatus of telegraph and tele- phone lines.
 above debts owed iy the creditor.
 7 The income of every annuity. un- less the capital of the annuity be taxed in this State.
 s. All public stocks. bonds and se- curities of every kind.
 g. All personal property situated in this State of corporations whether the owners thereof reside in or out of this State
 10. All shares of stock fin banks, or gan!zed nnder the laws Of this State CT of the United States
 II. The capital stock, undivided prof its, and all other means not forming part of the capital stock of every com pany whether incorporated or unincor- porated.
 Section 5. In the construction of this Act the followiDg rules will be observ- ed. unless such construction would be inconsistent with the manifest inten- tion of the Legislature or repugnant to
 I. Person shall include firm com pany or corporation
 2, The term oath wherever used fin this Act shall be held to mean oath" or affirmation"
 B. Every word in this Act denoting the masculine gender shall extend and apply to females as well as males
 1. Pensions receivable from the United States, or from any State sal aries or payments excepted. shall not be held to be annutIes within the meaning Of this Act.
 5 Town" shall be held to mean city. town or village if laid out in lots or blocks as prescribed by law, whether Incorporated or not, and district shall be held to mean school district
 6 Tract" lot" parcel or piece" of land shall be hel to mean any con t'guous quantity of land in the posses s'on of. owned by or recorded as the property of the same claimant or per son
 T. True and full value" shall mean the usual selling price at the place where the property to which the term is applied shall be at the time of as- sessment: being the price which would be obtained therefor at private sale and not at forced or auction sale
 &. Merchant" shall include every person 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