He shall deposit each day in the Insular Treasury all moneys belonging to the city received on the previous business day; shall, on or before the tenth day of each month, submit to the Insular Auditor an account-current with abstracts of collections and ab stracts of deposits, covering all transactions of his office during the preceding month; shall, on or before the tenth day of January of each year, prepare in duplicate an itemized statement of the receipts and deposits with the Insular Treasurer for the p receding year, and shall transmit the same to the Board through the Insular Auditor and the mayor. He shall perform in and for the city the duties imposed by the Internal Revenue Law on provincial treasurers generally, the duties imposed upon him by the su cceeding sections of this chapter, and such other duties as the Board may, by ordinance, prescribe. 

[183-61; 1141-2.] 

## ARTICLE XI 

## The Real-Estate Tax 

SECTION 2453 . City Assessor and Collector to Value and Assess Real Estate, Except Machinery, and Prepare Lists . — The city assessor and collector and his authorized deputies, who are empowered to administer any oath authorized to be administered in connect ion with the valuation of real estate or the assessment or collection of taxes, shall appraise and value all the real estate in the city, and assess for taxation all such real estate not expressly exempt, except machines, mechanical contrivances, instrumen ts, tools, implements, appliances, apparatus, and paraphernalia used for industrial, agricultural, or manufacturing purposes, which shall be excluded from such valuation and assessment whether or not attached to lands or buildings. He shall prepare and keep a list of the real estate so valued which is exempt from taxation, and a separate list of the taxable real estate. 

[183-61; 1141-2; 2197.] 

SECTION 2454 . Real Estate Exempt from Taxation . — The following shall be exempt from taxation: AEIHaS 

( a ) Lands or buildings owned by the United States of America, the Government of the Philippine Islands, or the city of Manila, and burying grounds, churches and their adjacent parsonages, and conventos, and lands or buildings used exclusively for religious, charitable, scientific, or educational purposes, and not for profit; but such exemption shall not extend to lands or buildings held for investment, though the income therefrom be devoted to religious, 

