The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-06-04
FINANCE AND TRADE.

Financial md Commercial Items.
The Second National Bank Of st.
Louis has gone to protest. Its princi-
pal depostors are country merchants.
1t has heretofore been regarded as one
of the soundest institutions of st. Louis,
its deposits reaching $500, 900, and its
discount line Sl,OOO,OOO, Oh capital of
100000.
LOST OR STOLEN GOVERNMENT BONDS.
An advertisement of "Safe Deposit
Company" at New York, contains the
following statement:
at has been settled by legal decisions
that the innocent holder of Govern
ment coupon or bond, or other security,
has q good title to it, though it may
have been lost or stolen from former
owner and advertised by him. Before
the title of u present holder to coupon
bond can be made invalid, it must be
proven that he had reason to presume
that the party through whom it came
had no right to convey title to it,"
Some question has arisen as to what
date the penalty is added after the rem
dering of income and the non-payment
of the tax. By the present income law
taxes are levied OH the LIST of March,
and are payable on or before the 3Oth of
April. If "due and unpaid after the
18th of April, and for ten days after no.
tice and demand by the Collector, there
shall be levied, in addition, five per
cent. on the amount Of taxes unpaid,
and interest at the rate of one per cent.
per month from the time the same be-
came due, as a penalty" The estates
of deceased, insane or insolvent persons
are exempt from this penalty. A pro-
viso at the close of this section limits
the levy this year to the day the act
takes effect, it being after the LIST of
March, but the other clauses remain the
same. 1t will be seen from this that no
penalty for nOn-payment can be en-
forced, even after the tax becomes due,
until the Collector has given to the tax
payer the ten days notice and demand
required By the law. .....
In the New York markets the changed
condition of the monetary affairs at
London has caused weakness in gold.
1t is assumed that with the decline in
the value of money at London, there
will be more disposition to allow bal
ances to accumulate here, and that con-
sequently the exports of specie will be
curtailed. On the other hand, however,
it must be considered that the foreign
bankers are at present disposed to hold
their balances in gold, upon which, in
the present baiiish attitude of the mar
ket, they are unable to make any inter
est-a consideration which induces them
to remit where otherwise they might
not. The total sales by the government
for the month amount to about eight
millions.
The New York Journal of Commerce
has the following replies to queries, one
of which bears upon the long mooted
question of fixing stamps to receipts:
A letter acknowledging check if it is
intended only to inform the sender that
the document has come to hand does
not require'a stamp. But if the check
is to pay q debt, and the letter is de.
signed to serve also as an acknowledge.
ment of this payment, then it must be
stamped. In reply to another query,
We remark that the party who pays the
money is not required to furnish q
stamp for a receipt. On the other hand,
the party receiving tho money is not
required by law to give a receipt. In
England, for all except minor sums,
the receiver must give stamped re-
ceipt on demand, or become liable to a
penalty. Here he may legally decline
altogether to giyea receipt; but cour.
tesy, by established custom, requires
him to give such q receipt when re-
quested. If the payment is to himself.
the custom of trade imposes upon him
the cost of the stamp, and if he gives il
without one he is liable If he is N { a
party in interest, and is only receiving
the money to transmit to another, he
may decline to give . receipt at all un,
less the party making the payment will
furnish the stamp. Few business mer
insist upon even this distinction, and il
il now generally understood that the