Pine Bluff daily graphic., 1912-06-15

i'm act,,oi >'tes currency in common use u,htt s"'al " tosseSSlon; also every danos;t "iiith any person residing in fife Stos "ilfs the same or holding in tr,vt or iiaN is ing the beneficial interest tharsi,, is n9.,' d'iliea ts to Withdraw in money on de.
 mn'ilfh thls State or elsewhere shii me term investment in honds" si'i. Hhclude all money invested i, t or"us of Whatever kind or certitic.ta H,ba+r'l brepteuhess commonly called scriI, rnrnnrat Iss"ed by incorporated or unin o. poi o,eu companies, towns cities | | xi,i, Hiu,a.les or states, held by persons re- sdins Tn this State either hv thsn1 e t of pN others for them in or n,,t M @ .lis otate whether for themselves m, s"alu''Es trustees or agents
 sbaIi lhe term investments in stocks" ia'at. ne held to include all moneys invested in public stocks of an,, asS,nia .ioi' corporation or joint stocl, con, faS f+S whose stock capital is divided ''i.o o shafes' which are transferable b< otb1r "mner without the consent of the t o"HtfS or stockholders and for he .aAal'oh of which no special provision ,s ii inaue by this ->"t, held by persons eSs leSiolhs In this State. either for them aoants eaae. UT as guardians, trustees, or state for them ' o' ''iis l i'' The term credits" shall be ha,a iao,ii 1'ean an the excess of the sum of all i.S'i 'laiins or demands for money ar othtf valuable things or for lajo,. o, service due or to become d,a to t'' o l l. IT, sph liable to pay the taxes thereon in "''6S ahhultieS. or sums of money re oelsfa 'el, at stated periods due or to be- cnrad uue' que aH clalms and demands se- Iuleo oS deed Of trust of mort gares u"t or to become due when added to sttner tsuch claims or demands to he es'lmated at their ful value in money1
 WI s.ha abovc the sum of the legal s'i" pona Ildt debts owing by sllrh nsr- son. There shall not ba taken into %
 o'h' any obligation to any mutual in Sufahce company; nor any unDaid s,Ib #rrlption to the capital stock of any ,1i'i' otoch company; nor any subscrip- llo1 10 any religious, scientific litar.,rv or chafltabie purpose; nor any acknowl- rrlsinent or any indebtedness unless loutided on some consideration actually leceiVed, and believed, at the time of inaklng such acknowledgement to he a lull consideration therefor. nor any ar hho"ledgment of debt made for the, pllr pose or diminishing the amount of srtails . |" he listed for taxation; nor ,,iiiH ,;lH greater amount or portion of any iiaoliItN as surety than the person re- 4"ired to make the statement of such credits believes that such surety is in "lllty bound and will be compelled to pay or contribute.
 section 6. No assessment of pronertv TOT purposes of taxation and no tax 'tulhoflZed by law. levied upon any property by any officer or board au- lhorlZed to make and levy the same.
 , i 'e Heiu lhNallu TOT want of any matter or form in any proceeding which does not affect the merits of the case ana when does not prejudice the rights or the party whose property is assessed or aSalnst whose property a tax is leVled. All such assessments and levies shall be presumed to be legal until the contrary is attirmatively shown; and no sale of real estate for the non-Day- inent of taxes thereon shall be rendered. lhtalld by showing that any certificate nj, nth th.,r
 to be made and filed in any office is not Tn such office. but until the contrary is Sho~n the presumption shall be in all cases that such paper was properly 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 s. All property shall be as sessed at it's true and full value in money. In determining it's value the assessing and eauaizing officer or officers shall not adopt lower or different standard of value because the same is shal! the price for which property would sell at auction or forced sale be adopted as a criterion of value The oihcers shall value each article or de- scriptlon 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 or 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 until his 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 qlalifies 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 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
  true and full value in money 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 bond or to take the oath shall be 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:
 l. "I. ......, assessor for ........ County do solemnly swear that all real and personal property assessed by me will be appraised at its true and full value in money; that in no case will l 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 I 1f.xA hot Vuyi1 nnt