The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1866-05-10
By Last Nights Mail.

By Last Nights Mail
Our dates by last nights mail from the Mort
are to the Hh. Theiollowing is summary of til
most important news 4. s :fg -
..sissI Europe. - S..s Z
i The steamship Peruvian, from Loadonderr
4 April ~, passed Father Point on the 6th, on he
voyage to Quebec. Her news is FIVE days later.
The steamship City Of Warrington, from New
| the 3fst of March, had not yet been heard Of.
The U. s. stearer. .Kearsage from Sierra Leone
was in quarantine off Lisbon, with fever on;board
Fourteen. Of her crewshad died. 81 s..-.,g.,
Anew York correspondent of The London Times
asserts, son high authority = that the United
States Government will what isrights against
the FeEians.s = q
yiEarl Russell's anticipated majority.on the Re.
ersI members having been unseated In. The Com.
mons for bribery during their elesHon. The
division WAS expected to- be very close, and the
defeat Of the Cabinet Vas copiectured in come
quarters. ~ ~
Austria and Prussia had agrssd to q mutual dis
armament and settlement of thes German guess
ton; Austria maintaining, however, d very war
like attitude toward Italy The situation became
90 menacng in this respect that, just previous to
the departure OF the Peruvian, Prussia refused to
as SflcLOF HubaDuel was -CQr6Aleux
ed. II is said that Napoleon had informed the
King of Italy that il the syentsof war with
Austria, France will Fotfend him aid. The Lon
don Times Was hoaxeh BY forged dispatches, dated
atshe RSSsign oGGsEn k9Rsaa iRt3 the nahlics;
sna .ssSl t;c SsisEdr I on war:
ssS ef Aus precautions we're e2srclsed
BY the Austrisns,gh III ndon, April q, at SS5 @s7
Cons9s clossdfin Estates 520's 70@7O4. The
for money Gnisetrket opened frmer IN the
Liverpool cotton mfe OF 1t OF penny on Amerl-
week with an advappsrtially lost during the five,
nom one.haR to one penny on the 9th nltimo.
Breadstuffs inactive with prices nominally un.
changed. Business dull.
81 ~ From Washington.
j, From the Washington correspondence ,of the
New; York Times, dated, the 9th, we take the fol-
lowing news from the Capitol:
s.sISrEnxAL OBSERVATION-DISCLOSURES CIRCULAR.
The following circular has just been issued after
the moet careful consideration: .rsl
- TREASURY DEPARTMENT,
4 ~ OFFrcE oF THE internal REVENUE, =
.r'sd. ~ WASHINGTON, May S, 1885,
Three questions have arisen under the 1nternais !
Revenue laws respecting the tax upon sales OF
etooks texchsrge, bullion, coined money, bnnk
notes and other securities, VIZ: :
Fyrs.-Are brokers liable to q tax upon their
salcs Of their own stocks, &C., as well as upon
sales of those belonging to othersf
ISecond-Are bankers doing ageneral business
AZ such and. selling their own stocks, &c., liable
to pay the duties imposed by the ninety ninth sec
lion upon brokers and bankers doing business as
brokers, in addition TO those imposed upon them
as bankersp
Tnird-Are bankers who sell not only stocks be-
longing to themselves, but also those belonging
to others, to bo regarded as bankers doing bust
ness as brokers, and therefore liable to tax upoa
M, to n 20 reosntiy been con-
sidered by the Supreme Court fthe United States,
and it has been decided by them, first, that brok-
ers are liable to o tar upon their sales or their
own stocks. exchange, bullion, coined money,
bank nc; ;es. promissory notes and other securities,
ss well ins upon those belonging to others
second, that bankers doing q general onsiness as
such, making returns and paying duties, and taxes
who negotiate and sell Government securities as
agents Of the Government, and who at the same
time buy and sell Government securities for tnem-
selves, and do not for others, or for commission,
are not liable to tax upon such sales. .
The third question has not been dir. city ad]udi-
Gated by the Court, as it Has not been directly
brought before it. It has been the rule OF the
Office however, that when a banker is engaged In
selling not only his own stocks, &C., pu! seocks,
&c, tor others, for o commission, he Is banker,
doing business as a broker, and is liable 70 pa,
tax on oil scales sales Of his own stnGks bonds
Government securities, &C., included. Thas seems
clearly sustained by the reasoning Of the Court 10
it's recent decision, and will be regarded as the
requirement Of the law. Assessors and their as
sistants and Collectors and their deputies are
hereby instructed to proceed at once to the as
eessment and collection Of such taxes as have &C.
crued upon the sales Of brokers, or OF bankers
doing business as brokers' and which. still remain
unassessed, or due and unpaid.
+ (Signed) E. A. ROLLINS, Commissioner.
THE cH1sF-Jusr1oE ON MILITARY LAW IN VIRGINIA