The Sentinel=record., 1912-05-30

| k"sus ne same or holding in trust. oI i iiaNlhg the beneficial interest therefr
 IS entitled to withdraw in money on da.
 mand within this State or elsewhere l IT. The term investment in bonds
 snaii include all money invested in | oohus or whatever kind or certificate
 vi v,hd,heI n,ihuept~edness ~ commonly called scrip l whether issued by incorporated or unin. eofpofated companies towns cities counties or states, held ny persons re-
 sldIng in this State either by them serves or by others for them. in or out or thiS State whether for themselves or az guardians, trustees or agents l2. The term investments in stocks snail be held to include all moneys invested in public stocks of any associa-
 non corporation or joint stock com
 fahy 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 or which no special provision
 IS made by this -~et, 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
 lS. The term "crodits' shall be held
 10 mean the excess of tho sum of all lesat claims OF 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 in- cluding annuities or sums of money re- NH+fIN At HidAtu HtFlpUE. que or to De- come due, all claims and demands se- cured by deed of trust of mortgages que or to become due, when added to- gether tsuch claims or demands to be estimated at their full value in money) over ana above the sum of the legal ana bona flde debts owing by such per son. There shall not be taken into ac- count any obligation to any mutual in- snranse company; nor any unpaid sub scription to the capital stock of any m Rn ar rfr, tion to any religious. scientific literary or charitable purpose nor any acknowl- edgment Of any indebtedness unless founded on some considera tion actually received and believed. at the time of making such acknowledgment to be full consideration therefor. nor any ac- knowledgment of debt made for the pur- pose 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- quired to make the statement of such credits believes that such surety is in equity bound and will be compelled to pay or contribute.
 Section 6. No assessment of propertS for purposes of taxation and no tax authorized by law, levied upon any property by any officer or board au- 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 a tax is levied. All such assessments and Ievies shall be presumed to be legal until the contrary is afiirmatively 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 properIs 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 B. 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 lower or different standard of value because the same is to serve as 8 basis of taxation nor shall the price for which property would sell at auction or forced 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 as they believe the 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 including all structures and improve ments.
 Section g. 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 un lil nis successor is elected and qualified
 Section 10. Every person elected or appointed to the office of assessor. shall within thirty days after the receipt of his commission. and before he qualities enter into bond with the State of Ar kansas with good and sufficient security in the sum of not less than five thousand nor more than ten thousand dollars (the amount to be fixed by the county courb 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 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 its true and full value in money, or to dis charge any duties imposed upon him pN idWt oI IO ulStudTBe Sucn uQtlPS 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 shah also at the time he qualities. take the oath prescribed by section 20. article
 19. of Constitution of Arkansas.
 Failure to give the above prescribed bond or to take the oath shall be deemed
 to be refusal to serve.
 Section 1. Every assessor. each year before he enters upon the discharge of his duties. shall, in addition to the oath
 prescribed iH section 10 hereof take the
 oath shall be endorsed on each of the assessment books prior to their de- livery to the assessors
 "I .......f f.. assessor for .... County do solemnly swear that all real and personal property assessed by me will be appraised al it's true and full value bi money; that in no case will knowingly assess property at anything less than it's true and full value in | money that l will not knowingly omit ] to demand Of any person. of whom i nav be by law required to make such demand a statement of the description and value of the property which he may | be required to list. and that l will not | in any way connive at any violation or | vasion of the law with respect to the | listing or valuation of any property of any kind for taxation.
 | Any assessor who fails to take the | oath herein prescribed within the time | prescribed shall be deemed to have va l cated the office of assessor and the clerk of the county court shall at once notify | tbe Governor of such vacancy
 | Section 12 The assessor shall ap- | ,.,ntvs and assess the real and personal