The Sentinel=record., 1912-06-20
FOR ACT NO. |, AGAINST ACT NO. l,


 Be it Enacted by the People of ths
 State of Arkansas:
 Section l. All property in this State real and personal, tangible and intan- gihle, not expressly by this Act exempted therefrom. shall be subject to taxation in the manner by this Act prescribed
 Section 2. All property described in this section to the extent herein limit- cd, shall be exempt from taxation. to- wit:
 |. All schoolhouses, academies. col ieges universities and seminarjes of learning. with the books and furniture therein. and the ground attached to such buildings, and necessary for the proper occupancy, use and enjoyment. this provision does not extend to propertv leased or otherwise used with a view to profit.
 g. All houses used exclusively for nubIfc worship. and so much of the lots or parts of lots upon which such houses are situated as may be necessary for the 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 view to profit or for purposes of speculation in the sale thereof.
 l. All property, real and personal belonging to the United States or to this State.
 B All property belonging exclusively to any county, city, town. school dis trict or improvement district held and employed exclusively Tor public pur- poses.
 q All buildings belonging to institu- tions of public charity, including orphan asylums 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. furn- ture and personal property of every pan un propriatcd solely to sustain and belong ing exclusively to such institutions.
 :. All fire engines and other appa- ratus used for the extinguishment of fires. with buildings used exclusively for safe-keeping thereof and for the meeting of fire companies, whether he longing to any @ vn or to any fire company organized therein.
 g. All public libraries and all real and personal property belonging to or connected with the same.
 2. All property belonging to camp or grove meeting associations. Sunday School assemblies. Young Mems Chris tan Associations. societies for religious instruction or worship, expressly dedi- ceted and necessary for their proper oc- cupancy, use and enjoyment and not leased or otherwise used with a view to profit.
 lo All property belonging to and used exclusively for the purposes Of any State district or county agricultural 
 II. All public market houses squares. parkss-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 or electricity not leased or otherwise used with a view to profit
 Section g. Real property. for the purposes of taxation. shall be construed to include the land itself and all build ings. structures and Improvements or other fixtures of whatever kind thereon. and all rights privileges and franchises funless by this Act otherwise nrovided). thereto belonging or in anywise per taining; 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 to include
 l. All goods. chatteis moneys and effects.
 2 All steamboats and other water craft employed in navigating the waters lying wholly or partly within this State.ran all capital belonging to the inhabitants of this State, invested in steamboats, steamships or other water craft located without this State; pro vided. the same is not taxed by another State or sovereignty.
 2. All Improvements made by others upon lands. the fee Of which is still vested in the United States or this State. and all improvements and other 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 and florists. growing or otherwise
 5. All gas, oil and water mains. pipes, conduits. subways wherever To- cated all tracks, roads and bridges of street railways, turnpike and bridge companies and all poles, wires and other apparatus of telegraph and tele- phone lines
 s. Credits of every kind over and above debts owed Ly the creditor.
 Ihe 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.
 All personal property situated in this state, of corpof ations. whether the owners thereof reside in or out of this State.
 10 All shares of stock in banks or Eanized under the laws of this State or of the United States.
 Tine capital stock. undivided prof It's, and all other means not forming part Of the capital ftock of every com pany whether incorporated or unincor-
 Section g. In the construction of this Act the following rules will he observ cd unless such construction would be lHconSlStent with the manifest inten- uon Of the Legislature, or repugnant to the context:
 ! Person shall include firm, com pany or corporation.
 2 The term oath" wherever used Tn this Act shall be held to mean oath or affirmation"
 B. Every word in this Act denoting Inc masculine gender shall extend and apply to females as well as males. .. Pensions receivable from the n faf al arles or payments excepted shall not De held to be annuities within the meaning of this Act
 b Town shall be held to mean city town or village if laid out in lots ot blocks as prescribed by law. whether ncorporated or not, and district shall pc held to mean school district"
 e Tract" lot" parcel or piece" ot land shall be hell to mean any con tguous quantity of land in the posses eoh or, owned by or recorded as the son
 :, True and full value" shall mean Ioe usual selling price at the place rhere the property to which the term ls applied shall be at the time of as ssssment. being the price which would pe obtained therefor a private sale and not at forced or auction sale
 H- Merchant" shall include every person who owns. or has in his possession oI subject to his control. with authority o sell the same. any personal property wlthin this State. purchased with the NieW to sale at an advanced price or Rttoht or which has been consigned to