The Sentinel=record., 1912-06-13

Is ehtlued to withdraw in money on de
 mana within this State or elsewhere II; Ihe term investment in bonds
 snail include all money invested ir
 poins or whatever kind or certifeat ol lndebtedness commonly called scrin
 whether issued by incorporated or unin
 ooipotated oo,,p,r companies, towns, cities counties or states held ry persons re
 siding in this State. either by them
 serves or by others for them. in or ou
 oI thls State whether for themselves ol
 ss guardians, trustees or agents.
 lz; The term investments in stocks
 snail be held to include all money.
 invested in public stocks of any assocfa,
 @eloh @ corporation or joint stock com
 pany whose stock or capital is dividef
 lhto shares, which are transferable bN
 each owner without the consent of tho other owners or stockholders. and for tho
 IaNal9h or which no special provision ls made by this @et, held bv persons residing Tn this State. either for them
 serves 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 ali legal claims or demands for money or other valuable things. or for labor or service due or to become due, to the per son llaple to pay the taxes thereon. in- oiH"itiS ahhGities or sums of money re- ceived at stated periods, due or to be come que, all claims and demands se- cured by deed of trust of mortgages que or to become due. when added to- setnet lsuch claims or demands to be eStlmdt9d at their full value in money) over and above the sum of the legal ana bona fide debts owing by such per son. There shall not be taken into ac- couht any obligation to any mutual in- suranAe company; nor any unpaid sub- scrlptlon to the capital stock of any joint stock company: nor any subscrip- Ioh to any religious. scientific. literary or charitable purpose; nor any acknowl- esusment of any indebtedness unless rounded on some consideration actually received, and believed at the time of making such acknowledgment to be a lult consideration therefor. nor any ac- khoWledgment of debt made for the pur- pose or diminishing the amount of credits to be listed for taxation. nor any greater amount or portion of anv liability as surety than the person re- qulred 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 property Tor 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 ana which does not prejudice the rights or the party whose property is assessed pr against whose property a tax is levied All such assessments and levies shall be presumed to be legal until the contrary is afiirmatively shown and no sale of real estate for the non-pav- ment of taxes thereon shall be rendered invalid by showing that any certificate return aihdavit or other paper. required 10 be made and filed in any office is not Tn such office. but until the contrary is shown the presumption shall be in all cases that such paper was properly made and filed
 Section z 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 g. 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 a lower or different standard Of value because the same is to serve as a basis of taxation nor would sell at auction or forced sale be adopted as a criterion of value The officers shall value each article or de- serlpuon 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 9. 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 until his successor is elected and qualified.
 Section TO- Every person elected or appointed to the office of assessor shall within thirty days after the receipt of his commission, and before tfs~qualifies 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 court, 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- hcial 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 it's true and full value in moneyl or to dis charge any duties imposed upon him by law, or to discharge such duties 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 shall 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 ,.Sf.s! CT to tal-e the oath shall ha deemed to be refusal to serve
 Section II, Every assessor, each year before he enters upon the discharge 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- livery to the assessor;
 "I ........., assessor for ....... County, do solemnly swear that all real and personal property assessed by me will be appraised at it's true and full value in money; that in no case will I knowingly assess property at anything less than it's true and full value in money; that I will not knowingly omit to demand of any person, of whom I may 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 will not in any way connive at any violation or evasion of the law with respect to the listing or valuation Of any property of any kind for taxation"
 Any assessor who falls to take the oath herein prescribed within the time prescribed shall be deemed to have va cated the office of assessor and the clerk of the county court shall at once notify the Governor of such vacancy.
 Section 12. The assessor shall ap- praise and assess the real and personal nropertv of his county Tn such manner and at such time as this Act shall pre-