Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-10-08

I'll. BOGds OF indemnify, hfty ceEts------- '0J
sth. Ger iLcates # siOok Ia any incorporated
Soupauy, each twenty hve eeuts-.-.---... 20
9th Certiicsies u deposit OF bail trust en-
psny, bAnser or person scung as suCh, not
exceed $500, two euts-------.---.---. .O2
fxce eGins 500. five cenIs-.-.------------ "a
10Th PONsrs Ct ALTO Eey-
70 sale or { arafec Of stocks y for bocd5,
or for The collection Of dIy d nds or inIe
est twenty-five .5
Or prsxS for vot ng al al elsc ion, ten cents. 10
For re siving OF collie ting euis.--------.. 81
General Powsrs-For a ! purposes other thzn
Ihuss above 81 90
NorE-1eaeral lowers viii not BE- valid for the
s.ecihc 0. jec S above named without the add.
ton OF the stamp required therefor.
/ llth. Pro esty, each tveuty-hvs eeItg- -.,....--.- .25
ia. Tax on all civ dsnds, and on al Gums aioed
to saryiJs or contingent funds----...-3 per cen.
18Th btsmi s issued or specific ins rumsnts can
not b used for any orher See rec. 90.
! I4th. The psrs n using or sfhxiug a stamp mTst
write tuereup1u the ln.tis g Of his name,
aud he dat when use1, Gee. 49,
The penalty for making, signing or issuing
any instrument, document or paper of any kind
without the same having thereon a stamp to de-
note the duty, is fifty dollars, and such psper
will be invalid anu Of no effect (]section 95).
The cerifcadon Of checks, already duly
stamped, will require no additional stamp for
such certifcstion.
The stamp tax upon protests should be added
TO the expenses thereof.
All dividends or coupons, payable pTi0T TO or
on September ] 1862, although paid after that
day, are exempt from the operations of the law.
Checks dated, or payable ahead, are subject
to taxation as promissoTy notes.
Stamps are not required upon documents
made prior to October !, 1862. excepting upon
| foreign bills of exchange, which must be
stamped on acceptance.
The committee recommend, as a simple and
convenient method, that { Q three per cent. tax
| required upon dividends and surplus profits be
| deducied by banks in gross from their net earn
| Jugs before the declaration OF dividends. Divi.
/ dends then declared would be free from tax
The three per cent. thus W. thheld must be paid
to the United States within thirty days from the
date on which such dividends are payable, under
penalty Of five hundred dollars for default
(Section 81 }
Stamps must be affixed to all documents by
the party issuing the same, before presentation
at bank and sll documents issued by a bank
must be stamped by 1t before delivery, as re-
auired by resolution unanimously passed at q
messing Of bank officers, September Is.
Stamps, in amounts Of $50 and over, can be
obtained of the commissioner of internsl revenue,
as per schedule hereunto annexed, for which
a commission of not exceeding FIVE per centum,
in stamps, will be allowed.
All CHECKS Of a bank upon itself, for payment
Of dividends or otherwise, and 81 written papers
for facilitating the internal business of banks,
are exempt from tax.
Orders to pay dividends are not powers of at
torney; but, like drafts at sight, are subject to
the stamp Of two cents.
Bills of exchange, drawn in duplicate, must
both be stamped.
Stamps may be cancelled by an instrument
made for the purpose Of impTessiDg the initials
of the bank or person thereon, to which the date
must be added.
The omission to cancel the stamps or checks
does not invsiida'e the checks, bat subjects the
maker to a ine of fifty dollars.
WASHINGTON, September %, 1862.
l have examined the foregoing memoranda,
and l am of the opinion that the specifications
conform to the provisions of the excise law in al
essential particulars.
GEO. S.. boutwell,,
Commissioners of Internal Revenue.
Until the government provides stamps, no
penalty viii be exacted for the omission.
OFFICE OF ISTFRNAL REVENUE,
September II, 1855.
Revenue stamps may be ordered from this Of
fee in quantities to suit the purchases. Orders
should cover remittances Of Treasury notes or
an original certificate Of a United States assist }
ant treasurer or designated depository of q de-
post made for the purchase of stamps.
The following commission, payable az stamps,
will be allowed:
ozu s=o o,orc.,+,-