Any merchant intending to dispose of his stock on hand by sale at public auction must make a sworn written application to the mayor and council at least fifteen (15) days before the intended sale is to begin, specifying under oath the name and address of the applicant, the location and purpose of the sale, and its expected duration, a statement itemizing in detail the quality, quantity, kind or grade of each item of goods, wares and other articles to be sold, with the wholesale market value thereof, together with a declaration that the merchandise or property proposed to be sold at public auction is a bona fide part of the merchant's stock in trade, and not secured, purchased or brought into such place of business for or in anticipation of such sale, and the name of the auctioneer who shall conduct the sale.
(1953 Code, ch. 5, ยง 8)