Delaware State journal and statesman. [volume] (Wilmington, Del.) 1855-1870, 1863-06-05

journal aud Statesman Timetable
BETWEEN PHILADELPHIA AND WILMINGTON,
Cirttaiiy corrected pth epsry change.
TEAMS Leave WiLMISdTOE FOR PHILADELPHIA,
Al l5 minutes before o'clock, morning.
At y O'Clock, morning.
Al 8 minutes after II o'clock, noon
Al Q minutes before / o'clock, afternoon.
Al 10 minutes after o'clock, afternoon.
At 6 o'clock, afternoon
At o'clock In the evening.
Al 80 minutes after Il O'Clock, night.
Al O'Clock evening, and $780, night, Sundays,
TRAINS LEAVE PHILADFLPHh FOR WILMINGTON,
Az o'clock in the morning, except Mondays.
Al 10 minutes after O'CLOCK morning
Al 20 minutes before II O'Clock, morning.
Al 10 minutes after o'clock afternoon.
Al 3 o'clock In the afternoon.
Al 30 minutes after o'clock, afternoon.
Al 80 minutes after o, evening, Freight.
Al / o'clock Mt night.
Al u o'clock midnight.
STEAMBOAT ARIEL FOR PHILADELPHIA,
Al "a O'Clock, in the morning, from King st. wharf.
For WlLMfsdTos,
At O'Clock in the alternOOA, Chestnut ST wharf.
Tue INCOME TAK.-Ths following decisions
are official being a copy Of a circular received
by the Assessor Of this District from the office
Of Internal Revenue at Washington
The income tax must be assessed and paid in
the district in which the assessed person resides
The place where person votes, or is entitled TO
vote, il deemed his residence. When not
fha ala OH fav
20 paid is held to be the place Of residence
Ia cases OF limited partnerships, formed with
the condition that no dividend or division Of
profits shall be made until the expiration OF the
partnership, each member of such firm will be
required to return bis share Of profits arising
from such business, for the year 1862, az, had
they 50 desired, Il division OF the profits could
have been made.
Gains or profits realized from the sale of pro
perty during the year 1869, which property was
purchased before the Excise Law went Into eff
feet, should be returned US income for the year
1867
The executors or administrators Of the estates
Of persons who died ia the year 1862, should
make return OF the income thereof for the year
1862.
merchants return Of income should cover
the business Of the year 1862, excluding pre-
yious years. Unsolicited accOunts must be es-
tmated.
Physicians and lawyers should include actual
receipts for services rendered in 1862, together
with M estimate Of unrealized OF contingent in
come due to tina year.
Dividends ahd interest payable in 1862 should
he returned Ds income Tor Ihat year, no matter
when declared.
Dividends derived from gas stock are taxOble
as income
Incorna ,larivnI f,nn, canl n,i,n. ,,uut Ia %,
turned, although tax has been previously pnid
on the coal produced. No deduction eau be
made beeause Of the dimished value, actual or
supposed, Of the coal vein or bed, by the process
u mining Rent derived from coal mines is
income.
Premiums paid for life insurance shall not be
allowed III u deduction ia statement If income.
Pensions received from the United States Gov
eminent must DO returned with other income
euhiect 10 taxation.
Old debts, formerly considered hopelessly lost,
but paid within the time covered by the return
Of income, should be included in this statement.
Debts considered bupelessly lost on the 3lst
VI December, 1862, and due to the business of
tue year 1862, may be deducted nom the profits
Of business; If subsequently paid, they must
be included in the return for the year i'll winch
paid,
10 order to give fall effect TO the proviso 10
the 9lst section Of the act of July lst, 1862, re-
Ipecting the tax on tina, portion of iuoumo de-
rived from United States securities it is directed
that when income is derived, partly from these
and parity from other Sources the 5000 and
other allowances made by law shall he deducted,
As far as possible, from that portion OF income
derived from other sources, and subject to three
per cent tax.
No deduction can I've allowed from the taxable
innoma nf n fnprrhant fnf cnmnpnaa inn mid for
the services of a minor son.
farmer, when making return Of the total
amount Of his "farm produce" shall be allowed
" deduct thereirom the subsistence Of horses,
mules, oxen, and cattle used exclusively in the
carrying on of said farm. The term 'farm pro-
duoe" Is construed to include all productions of
ALARM, of what nature or kind soever.
The account OF stock sold by farmer since
December 81, 1862, should not be included in
the present assessment, but the profit realized
thereby must be accounted for in his next years
return. Where he has included in his return
produce raised by him, and fed in whole or part
10 stock subsequently sold, he must account for
the gain realized by the feeding and selling of
said stock. Where he has not included the
produce 30 fed, be must return, MS profits, the
difference between the value of SAID stock on the
5lsl Of December, 1861, and the amount real
iled for them.
Fertilizers purchased by farmers, to maintain
their land in present productive condition, will
10 considered US 'Tepairs" in estimating in
come.
Interest should be considered as income only
when paid, unless il is collectablU and remains
unpaid by the consent OF agreement OF the
creditor.
Losses incurred in the prosecution Of bust
ness are a fair offset to gains derived from bust
ness, but not FROM those portions Of income de-
rived from liked investments, such as bonds,
mortgages, rents, and the like
Property used in business, and furnishing
prohts, when destroyed by FIRE, may be restored,
Ut the expense Of those profits, to the condition
when destroyed if insured, the difference be-
tween insurance received aud amount expended
in restoration will be allowed.
The increased value given new building by
permanent improvements will be charged to
capltal--not income
The contingent fund Of manufacturing corpo-
ralions, made up during the year 1852, md not
distributed, should not be returned as part Of
the income OF tho stockholders,
The undistrbutcd cummings Of corporation,
made previous to September lsi, 1862, whether
Tue corporation is required TO pay tax on divi-
uends or not, should not be considered as the in
come Of the stockholders, nor should the corpo-
ration be required TO make return Of said re-
served earnings as trustees, undor section 90 Of
the Excise Law.
The income Of literary, scientific, or other
charitable institutions, 10 the hands Of trustees
or others, is not subject 10 income tax.
When person boards, aud rents room, or
rooms the rent thereof, in lieu of rent Of house,
should be deducted from the amount of income
subject to taxation.
Losses sustained in business since December
SlslI 1862 will not enter into tho income Rssess.