The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-08-02
The New Law Concerning Stamps.
ITS PROVISIONS,

The new Tax law wentinto operation yesterday.
The following is the section in relation to the
Mse OF stamps by brokers, bankers, and banks:-
That section ninety nine be amended by striking
ont all after the enactIBg ause, and inserting in
lieu thereof the fOowing;-Lhat there shall be paid
on all sales made by brokers, bauks, or BANKERS,
whether made tor The benefit of others or on their
own account the following taXes-thdt is to say,
npon all sales and contracts for the sale OF stocks,
bonds gold and silver bullion and coin, promissorY
notes other securities tax At the rate OF one cent
for every hundred dollars OF the amount OF such sales
and contracts; and on all sales and contracts Tor sale
negotiated and made bv any person, firm, or com
pany not paying special tax as broker, bank, or
banker, OF any gold or silver bullion, coin, promis-
Sory notes stocks bonds other securities, not his
or their own property, there shall De pad Il at
the rate OF hve cents for every hundred dollars
of the amount of such sales or CONTRACTS; ana on
eyery sale and contract for sale, aforesaid, there
shall be made and delivered by the seller to the
buyer bill or memorandum OF such sale or con-
tract, on which there shall be affixed lawful stamp
or stamps in value equal to the amount OF tax on
such sale, to be predetermined by the rates of tax
before mentioned; and in computing the amount of
fhe stamp tax In any case herein provided for, any
fractional part of one hundred dollars OF value
amount on which tax Is computed shall be accounted
Mt one hundred dollars. And every bull or memo.
randum of sale contract OF sale before mentioned
sha show the date thereof the name OF the seller,
the amount of the sale or contract and the matter
Or thing 10 which it refers And any persons liable
10 uay the tax herein provided, or any one VINO
acts IN the matter as agent, or who snail IN pursu-
ance of any sale contract deliver or receive any
stocks, bonds bullion, coin, promlssory notes,
or other securities, without a bill OF memorandum
1heTeOI
liver or receive such bill or memorandum with
out having tie proper stamps atnXed thereto,
shall forfeit ana pay to the Unted States penalty
of five hundred dollars for each aud every ofense
where the 8 evaded, or attempted to be eYaded
does not exceed one hundred dollars and penalty
OF one thousand dollars when such tax shall exceed
one hundied dollars, which may be recovered with
costs in any court of the United States OF competent
jurisdlcuop, at any time within one year after the
liability to such penalty shall have been incurred;
ana the PENALTY recovered shall be awarded and dis
tribued by the court between the United states aud
Da n
who IN tine iudgmen' of the court shall have first
which recovery had Provided, That where 1t shall
was not With intent to eVade the provisions Of
this section, said penalty shall not be INQUIRE g..
And the provisions OF law in re aLiOn to stamp
stamp taxes herein imposed upon sales and eontrac
Others as aforesaid Aud there sha be paid monthly
on all sales by commercial brokers oil any goods,
wares OF mer shandlse tax OF One-twenteth or one
IT before the tenth day OF each month every CON-
ssls ant of the district OF the gross amount
of such sales as aforesaid or the preceding mouth
In form and manner as may be prescri, eG by the
Commissioner of Internal Rev enue Provided That
in eslmatng sales OF goods, wares and merchandise
for the PURPOSES OF this secuon any sa 90 made by
or through another broker, upon which tax has
been paid. shall not be es imated anu included a.
sold by the broker Tor wnom the sale was made