Year: 1859

ufactured articles which such person Is re.
quired to list as a manufacturer; thirteenth,
the value Of money, and credits required to
be listed, including ell balances Of book ac-
counts; fourteenth, the value Of the moneys
invested in bonds, stocks, joint stock COM
punies, or otherwise, which such person is
by this act required to list.


Sec. 8. II there be no articles of personal
property, moneys, or credits, investments in
bonds, stocks, joint stock companies, or
otherwise, which such person would be, by
this act, required to list, on his own Occount,
or account of others, he may set forth such


fact to the assessor, who shall require the
oath or affirmation of such person to the
truth of the same.


RULES FOR vALUING PROPERTY.


Sec. 9. Each separate parcel of real


property shall be valued at its true value in


money, excluding the value Of the crops


growing thereon but the price for which


such real property would sell at auction, or


at forced sale, shaI not be taken as the


criterion OF such true value. Each tract or


lot of real property belonging to this state,


or to any county, city, or charitable institu


ton, whether incorporated or unincorpora.


ted, and school or ministerial lands, held Un.


der lease for term exceeding five years,


shall be valued at such price as the assessor


believes could be obtained at private sale for


such leasehold estate. Personal property Of


every description, shall be valued at the usual


selling price of similar property at the time


Of listing, and at the place where the same


may then be and if there be no usual


selling price known to the person whose
| lat, :k II, Ioa G.. Al


at such price os it is believed could be OBJ


tained therefor, in money, at such time and
place. Investments in bonds, stocks, joint


stock companies, or otherwise, shall be val.
ued at the true value thereof, in money
Money, whether in possession or on deposit


shall be entered in the statement OF the full


amount thereof: provided, that deprecated


bank notes shall be entered at their current


value. Every credit for sum certain, pay.


able either in money, property of any kind,
labor or services, shall be valued at the full
price of the sum 80 payable; if for q spec-
fc article, or for q specified number or guam
tity of any article or articles of property, or
for a certain amount Of labor, or for services
of any kind, it shall be valued at the current
price of such property, or OF such labor or
service, at the place where payable. Annu-
tiles or moneys receivable at stated periods


shall be valued at the price which the person


listing the same, believes them to be worth
in money. Where the fee of the soil of any
tract, parcel or lot of land is in any person
or persons, natural or artiticial-and the
right to any minerals therein, in another or
others, the same shall be valued and listed


agreeably to such ownership in separate en-
tries, and taxed to the parties owning the
same, respectively.


Sec. 10. No person, company, or torpo.


ration, shall be entitled to any deduction, on


account of any bond, note or obligation Of
any kind, given to any mutual insurance
company; nor on account of any unpaid


subscription to uny religious, literary, scien-


tific or charitable institution or society nor
on account of any subscription to, or install
ment payable on the capital stock Of any
company, whether incorporated or unincor-


pOrated.


OF LISTING AND vALUTEG THE PROPERTY OF


MERCHANTS AND MANUFACTURERS, AND OF
i BANKERS, EXCHANGE BROKERS, AND STOCK
JoBBERS, ETC.


Sec. IL. Every person that shall own, or


have in his possession, or subject to his con


troll, any personal property within this state,


with authority to sell the same, which shall


have been purchased either in or out of this


state, with view to being sold at an ad.


vanced price, or profit, or which shall have


been consigned to him, from any place out


Of this stute, for the purpose Of being sold


at any place within this state, shall be held
to be merchant and, when he shall be by
this act required to make out and deliver to
the assessor a statement of his other personal


property, be shall state the value OF such
property appertainng to his business us o
merchant and in estimating the value


thereof, he shall take as the criterion the


average value of all such articles OF personal


property which he shall have had from time


to time in his possession, or under his con.
troll, during the year next previous to the


time of making such statement, If so long


he shall have been engaged in business
and if not, then during such time as he shall
have been so engaged; and the average shall
be made up by taking the amount in value
on hand, as nearly as may be, in each month
of the next preceding year in which the
person making such statement shall have
been engaged in business, adding together
such amounts, and dividing the aggregate
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that the person making the statement may
t have been in business during the preceding
year : provided, that no consignee shall be
! required to list for taxation the value of any
; property, the product OF this state, which


shall have been consigned to him, for sale
or otherwise, from any place within the state,
nor the value Of any property consigned to
f him from any other place for the sole pur-
! pose of being stored or forwarded; provided
he shall, in either case, have no interest in
> such property, or any profit to be derived
r from its sale /; and the word person, as used
in this and the succeeding sections, shall be
held to mean and include firm, company anC
incorporation.


Sec. IL. Every person who shall pur
] chase, receive or hold personal property o
. any description, for the purpose of adding


to the value thereof by any process of man
=; ufacturing, refining, rectifying, or by thu
] combination of different materials, with |
j, view of making gain or profit by so doing
{ shall be held to be manufacturer and h'
y shall, when he is required to make and de
d liver to the assessor a statement of the
g amount of his other personal property sub
Y ject to taxation, also include in his statemen
. the average value estimated, as provided il
: the preceding section, of all articles pur
r chased, received or otherwise held, for tn
: purpose of being used in Whole or in part, il
any process or operation Of manufacturing
e combining, rectifying or refining, which from