The Harrison times., 1912-07-06
bo obtained tnerefor at private sale and

3, Merchant Sndll lDCluue 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
| him for sale,
g. Manufacturer" shall include every
person who purchases, receives or holds
personal property of any description
for the purpose of adding to its value
by any process Of refining manufac-
ture, rectfying or by the combination
Of different materials with the view of
making a gain or profit thereby
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 the beneficial interest therein
Is entitled to withdraw in money on de-
mand within this State or elsewhere,
II, The term 'inves,ment in bonds
shall include all money invested In
bonds OF whatever Rind or certificate
or indebtedness commonly called scrip
whether issued by Incorporated or unin-
corporated companies, towns, cities
counties or states, held by persons re-
siding In this State, either by them
| selves or by others for them, in or out
OF this State whether for themselves or
as guardians, trustees or agents,
12 The term investments in stocks
shall be held to include all moneys
invested in public stocks Of any associa-
tlon 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
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.
49, The term credits" shall be held
TO mean the excess OF the sum or all
legal claims or demands for money or
other valuable things, or for labor or
service due or to become due, 20 the per-
son liable to pay the taxes thereon In
cluding annuities, or sums of money re-
ceived at stated periods, due or to be-
come due, all claims and demands Sc
cured by deed OF trust Of mortgages,
duo or to become due, when added to-
gether (such claims or demands TO be
estimated at their fun value In money!
over and above the sum OF the legal
| and bona ide debts owing by such per-
son, There shall not be taken into ac-
count any obligation to any mutual in
suran0e company, nor any unpaid sub
scriDtion to the capital stock OF any
Joint stock company; nor any subscrip-
tlon 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 Of
making such acknowledgment to be n
full consideration therefor, nor any ac-
kpowledRmcnt of debt made for the pur-
pdso OF diminishing the amount OF
credits TO be listed for taxation, nor
any greater amount or portion OF any
liability as surety than the person re-
CURED to make the statement Of such
credits believes that such surety IL In
equity bound and will be compelled to
pay or contribute,
Section G, No assessment Of property
for purposes OF taxation and no tax
authorized by law, levied upon any
property by any officer or board Ru-
| thorlSod 20 mako and levy tho 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 IL assessed
or against whose property n tax IN
levied, All such assessments and leylos
shall be presumed TO bo legal until the
contrary Ia atiirmatIyoly shown, and
no sale OF real estate for the non-paya
ment Of taxes thereon shall bo rendered
| invalid by showing thht any certificate,
return, anidayit or othor paper, required
10 bo made and filed I'm any Office IN not
In such office, but untll tho contrary IN
shown the presumption shall be In all
cases that such paper wN9 properly
Section T. All property subject to
taxation shall be listed and assessed
every year with reference 60 its value
on February flrst preceding the Ossoss-
mcnt
section s. All property shall be as
soaacd ut its true and fun yNmo In
money IN determining ita value the
Rsapesng ana equall2lng officer or 0lloora
shall not adopt Il lower or different
standard OF value because the Same IL
to servo AB basis OF taxation, nov
shall the price for which property
would sell at auction or forced sale be
adopted NJ n criterion OF value Tho
officers shall value each article or de-
acrlptlon Of property by itself, ana nt
fuch sum or price as they believe the
same 60 be fairly worth IN money
In assessing any tract or lot OF ro0l
ealOto the value OF tho land exclusive
Of structures ana improvements shall
ho determined, und also the value Of all
atruoturoa ana improvements thereon.
ana the aggregate value OF all property,
including oil structures and Improve
mentsi
Section 0, Al every general election
hh Assessor shall be elected In each
county In the State I'm the same manner
ms other county officers are elected,
Tho torn of ulllCo of Cuch nsaosNur shall
begin the first day OF january the yeur
after no NJ elected aud shah continue
fer two years, or until nlg aueoeRHoT Ia
elected and qualified,
Section 10, Every person elected or
appointed 10 the ONCE of assessor shall,
within thirty days after the receipt of
hla commission, ANA before ho uuHline
enter into bond with tho state OF Ara
kansas with good ana sufficient security
IN the sum of not leHB than liya thousand
nor more than ten thousand dollars
tthe amount 20 be fixed by tho county
e0urU conditioned for the faithful dis
charge Of his official duties, Said bond
shall ha approved by the county Judge.
Tho hHaeHHor shall bo liable on hlA Of
hoRl bond % the state, county and
each Of the several school dlatrloia road
districts elites ana incorporated towns
IN his county for all damages sustained
hy the State, county ana each diRtrot
or town by reason or any refusal on
his part 10 bHHesH any property at itH
true ana run yhluo In money uf ~ dHt
ohnrHH any dutloH imposed unnn him
Ihy law, or a. discharge such duties In
the manner prescribed hN law such
dAmageR shall he recovered in the same
manner as damages are recovered on
other official bonds The Assessor shall,
also at the time he auallnes. take the
oath prescribed by section g0 article
II 49, OF Constitution OF Arkansas
Failure 90 give the above prescribed
bond or 90 take the oath shall be deemed
10 hp rofuHnl tD serve
Section II, Every aHHeHsor each year