Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1864-12-01
OFFICIAL.
LAWS OF THE UNITED STATES,
Passed at the First session Of the Thirty
..E""1 81 Esghth Congress. . 1ti#'.

Passed at the First session Of the Thirty
| .E@"1 D. eighth Congress. IL aH+.t
4 a. GOO ot n1# ... g7s.. g..
L.... ...... PUBLIc-No. las. ... .....
| AN ACT to provide internal revenu,
to support the government, to pa,
interest on the public debt, and 70
other purposes. n. .sEss@sa
|E.. -m r4t [coSTIyrED, ar.vs-a
z Sec. l20. And be it further enacted
That there shall be levied and collect
ed duty of five per centum on all di
vidends in scrip or money thereaftel
declared due, and whenever the same
shall be payable, to stockholders, poll
cy-holders, or depositors, as part ol
the earnings. income, or gains OF any
bank, trust company, savings institu
tion, and of any fire. marine, life, in.
land, insurance company, either stock
or mutual, under whatever name OF
style known or called, in the United
States or Territories, whether special
ly Incorporated or existing under gen
eral laws, aud on all undistributed
sums, or sums made or added during
the year to their surplus or coDtingen,
funds aud said banks, trust compa-
nies, saving institutions, and insu.
rance companies shall pay the said du.
ty, and are hereby authorized to dc.
duct and withhold from all payments
| made on account Of any dividends OF
| sums of money that may be due and
payable as aforesaid, the said duty OF
FIVE per centun. And list or return
shall be made and rendered to the as.
SCISSOR or assistant assessor in dupli.
cate, and one of said lists or returns
shall be transmitted, and the duty
paid to the Commissionre Of Internal
Revenue within thirty days after the
time when any dividends or sums OF
money become due or payable as
aforesaid and said list or, return
shall contain a true and faithful &C.
count Of the amount Of dntiesas afore.
said and there shall be annexed
thereto a declaration of the president,
cashier, or treasurer Of the bank,
trust company, savings Institution, or
insurance company, under oath or af-
frmation, in form and manner as may
te prescribed by the Commissioned
Of Internal Revenue, that the same
contains true and faithful account u
the dnties as aforesaid. And for any
such si il Of the peRih %kpS pW 4r saa 5sAasSSsr
tion annexed, the bank, trust compa
ny, savings institution, or insurance
company, making such default, shall
forfeit as a penalty the sum Ut one
thousand dollars and in case of any
default in making or rendering said
list or return, or of any default in the
payment of the duty as required, OIL
any part thereof, the assessment and
collection of the duty and penalty
shall be in accordance with the gener
al provisions of law in. other cases o
neglect or refusal Proriaed. That tht
duty upon the dividends of life insu
rance companies shall not be deemed
due or to be collected until such divi
dends shall be payable by such com
panies, nor shall the portion of premi
ums returned by mutual life insurance
companies to their policy holders b'
considered as dividends or profits un
der this act.
Sec. l2l. And be it further enacted
That any bank legally authorized I,
issue notes as circulation which shal
neglect or omit to make dividends o
additions to its surplus or contingen
: fund as often as once in six months
shall make list or return in dnpll
cate. under oath or affirmation OF IN
president or cashier, to the assessor Q
assistant assessor of the district i
, which it is located, on the first day Z
: January and July in each year, q
: within thirty days thereafter, OF tn
: amount of profits which have accrue
or been earued and received 10y sal
a bank during the six monts next pr,
: ceding said first days of January an
!, July; and shall present one OF sal
n lists or returns and pay to the col!ec
G or of the district duty, OF five pt
e centum on such profits and in Cas-
of default to make such list or retuI
b and payment within the thirty da.
n as aforesaid, shall be subject to Il
oi provisions Of the foregoing section
O this act Prorided, That when al
u dividend is made which includes al
!" part of the surplus or contingent tn,
% of any bank, trust company. savint
IS institution, insurance or railroad col
I. pany. which has been assessed al
4 the duty paid thereon, the amount
It duty so paid on that portion Of the 81
plus OF contingent fund may be
'e Quoted from the duty on such dividen
ID Sec. l22. And be it further enacte
to That any railroad. canal, tnrnpis
canal navigation. or s|ackwater CO.
" pany indebted for any money
a which bonds or other evidence ot
b. debtedness have been issued, payat
Of in one or more years after date, up
ne which interest is stipulated to be pa
id or coupons representing the intere
st or any such company that may ha
of declared any dividend in scrip, or M
ST ey due or payable to its stockholde
&C. as part Of the earnings, profits, incon
~ or gains Of such company, and
n profits Of such company carried TO
,st account of any fund, or used for c.
ty struction, shall be subject to aud
er- duty of five per centum on
nd amount of all such interest, or G
ns pons, dividends, or profits, whence
,h. the same shalt be payable and 8
,of companies are hereby authorized
lily deduct aud withhold from all p
~ ments, on account of any interest,
ed coupons and dividends due and pa
! a ble as aforesaid, the duty Of five
nd centum and the payment OF
an amount of said duty SO deducted II
lat the interest, or coupons, or diyiden
lis and certified by the president
ad. treasurer of said company, shall I
charge said company from I
amount Of the dividend, or interest