The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-08-03
FINANCE AND TRADE,
Financial and Commercial Items.

Financial and Commercial Items.
The time of maturity of the August
7-SO bonds is nearly up, and yet there
are very many holders totally inditfcr'
emf abont the conditions under which
they were issued. The law under
which the 1905 were issued left the Sec
rotary at liberty to bargain with the
takers of the notes. On this point
the act of June 80, 1864, reads
"And any Treasury Notes issued un-
der the authority Of this Act may be
mad, convertible, ut the discretion OF
the Secretary, into any bonds Issued
under the authority OF this Act"
By virtue of this discretionary power,
the Secretary issued the 40 notes with
the following condition aud bargain,
plainly printed on the back Of the
notes.
/ Ar MATURITY conrertiblc, at The option
of the holder, into bonds redeemd6le at the
DIedsVrc of the Government al any time
after fire gears, and payable twenty years
from the 18th Of .1HgUst, 1867, Tih interest
al sir per cent per dHn"m, pGyd6" SENT
annually, ia coin.
These bonds are now ut - premium
selling. but if they are not presented
for conversion at or before maturity,
the holders will be considered as hav-
ing waived the right of conversion, and
will be therefore paid ut par IN currency
for the same.
Through our exchanges we learn that
ut Lowell, Lawrence, and nearly all the
other large manufacturing towns i'll
Massachusetts, aS well as those in mos
of the manufacturing towns in other
portions of New England, the mills are
running at loss. For several months
past there has been but Il small demand
for goods, and immense stocks have
consequently accumulated. In Man
chester, y. H.. the business is 1T very
low rbb, although the mills are still
running. The Manchester mills and
print works have goods on hand unsold
of the value of upward OF S2,OOo,O 1000
What is true of cotton and wooden man
ufactures is also true of the shoe bust
ness. At Lynn, Haverhill, Randolph,
and other large shoe manufacturing
towns in New England, the business is
in IA very low condition. as compared
with what il has been in former years.
Printing cloths the Providence Jour
nal SAYS, are very dull, with Il few small
sales to piece ont light styles prints, for
which only IN extra quality of goods
are wanted. The following are the
sales: 23.0n pieces 64x6l. 9 cents, 30
days.
Commissioner Rollins has recently
rendered several important decisions
touching the collection of revenue, from
which we present the following in
brief: He decides that the keeper of II
hotel, inn or tavern, is liable to special
tax rs such, if his annual receipts OK
coed $1,000, regardless of the amount of
his net profits.
A manufacturer of bureaus may de-
duet from the entire gross amount of
his sales thereof the actual cost OF the
marble-tops and looking glasses used in
their construction, provided tax has
already been paid upon the tops and
glasses, but no other deduction should
be allowed.
An alien who resides i'll the United
States, and is, therefore, liable to tax
Ia, 70 nd in
come, is entitled to the exemption of
$1,000 of that income in the same man
ner, and under the same circumstances
as native born or a naturalized cit
izen.
"The amount paid out for usual or or
binary repairs" may be deducted from
income, but no deduction can he made
for any amount paid out for new build
ings, permanent improvements, or bet
tcrInents made to increase the value of
any property or estate. Amounts ex-
pended by the purchases of building
in repairing injuries which occurred
thereto, prior to his purchase, are SO far
as he is concerned, 'betterments made
to increase the value" of the property,
and shoald not be allowed rs reductions
from his income.
Every person who sells, or offers for
sale. any distilled spirits. fernented
liquors, or wines of any kind, whose an
nual sales, including sales OF other mer-
chandise, Xceed 81, 1000, is required to
pay the special tax as 4 wholesale deal
er in liquors. Ii is not sufficient for
ane who sells in the same shop distilled
spirits, etc, To an amount not exceeding
$4,000 per annum, and "other mer-
chandisc' i'll addition, to an amount not
exceeding that sum, to pay two special
taXes-One as retail dealer, and the
other rs retail liquor dealer, if his COM
bined sales of liquors and other mer-
chandise exceed So 900 per aunum. He
should be required to pay special tax
of 500 rs wholesale dealer i'll liquors
A dealer may purchase and sell agri-
cultural and farm products a: the place
! of business designated in his special
tax receipt without thereby rendering
himself liable as produce broker; but
if u dealer, or any member of firm of
dealers, not having paid special tax a.
commercial broker, cattle broker, OF
peddler, travels abOnt the country pur-
chasing snch products i'll the manner of
a produce broker, he shonld be taxed rs
produce broker il his sales do not
exceed $1,000 per annum; If his annual
sales exceed that sum, his liability is
that OF commercial broker, Lboth as To
special tax and tue tax of one twentieth
OF one per cent. upon the amount of his
sales made elsewhere than at his place
of business as a dealer. -