The Forrest City times., 1912-07-05
be obtained therefor at privat. sal. and

NItlin thlS State. purchased with the
 ". to sale at an advanced price or him for sale beo 'o
 y. Manufacturer" shall Include every person Who purchases receives or hold. seI sohaI property of any description Dy any process of refining manufac ture, reetifying or by the combination ot diftereht materials with the view of ihaSihg a gain or profit thereby.
 iV Money or moneys" shall be heid 10 mean gold or silver coin. treas ury notes. bank notes and other forms or united States currency in common use m actual possession: also every deposit "hleh 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- mana within this State or elsewhere
 T; The term investment in bonds" shaIi include all money invested in Dohds or whatever kind or certificate oI lnaebtedness commonly called scrip. whether issued by incorporated or unin- corpofated companies towns cities, souhtleS s,t,.eS or states, held by persons re- sIdlhg In this State. either by them selves or by others for them, in or out or this State whether for themselves or ss guardians, trustees or agents.
 Iz; The term investments in stocks shall be held to include all moneys invested in public stocks of any associa- NiNN e'i Poidtloh 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 bv persons residing in this State, either for them selves or as guardians, trustees, or agents or by others in CT out of this State for them.
 l3. The term credits shall be held ha n- o% legal claims or demands for money or other NaIna ble things, or for labor or service due or to become due to the per son liable to pay the taxes thereon. in cludlng annufties, or sums of money re celSed at stated periods. due or to be- come due, all claims and demands se- cured by deed of trust of mortgages, due or to become due, when added to- geiher tsRch claims or demands to be estimated a their full value in money) over and above the sum of the legal and bona ttde debts owing by such per son. There shall not be taken into ac- count any obligation to any mutual in- surance company, nor any unpaid sub scrlption to the capital stock of any joint stock company; nor any subscrip ton 10 any religious. scientific. literary or charitable purpose; nor any acknowl- cdgment of any indebtedness unless founded on some consideration actually received, and believed, at the time of making such acknowledgment. to be fulI consideration therefor. nor any ac- knowledgment of debt made for the pur pose of diminishing the amount of credits 'o be listed for taxation; nor any greater amount or portion of any liability as surety than the person re qutred to make the statement of such credits believes that such surety is in equity bound and Will be compelled to
 Section 6. No assessment of property 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 he 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 or the party whose property is assessed or aSaluSt whose property tax IS levied All such assessments and levies shall be presumed to be legal until the contrary is afirmatively 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 properly made and filed.
 Section 7. 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 its 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 a basis of taxation. nor shall the price for which property would sell at auction OF forced sale be adopted as a criterion of value. The gl.s vol s.pf4 iffa do. 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 elected and qualified.
 Section 10. Every person elected or appointed to the office of assessor shall, within thirty days after the receipt of
 
 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 neial 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 rart to assess any property at its 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 qunlities, take the oath prescribed by section 20, article IS. of Constitution of Arkansas. Failure to give the above prescribed bond or to take the oath shall be deemed 10 be refusal to serve.
 Section IT. Every assessor. each year before he enters upon the discharge or 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
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