Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-04-24

The GermaniR Banking company, of
which NJ. Rosenstack, Esq, is president,
on the corner of South Court and Second
streets, is now in operation, and are
prepared to transact business of every
kind usually done in a banking house.
The receipts of the government from
duties on imports at the below named
ports during the week ending April 18th
were as follows:
Boston 1871 %
Baltimore .,....--- ,g9o q
New Orleans, from April Ito 6.--..-.- SG,4Sl o.
San Francisco, from March to H. Ii2,70l 62
The above returns show q slight de-
crease, as compared with the returns of
the previous week, at all the ports, with
the exception of Boston, where they
have slightly increased.
The treasurer of the defunct Stock
Exchange of Chicago refuses to give up
some four or five thousand dollars alleged
to be in his hands and to belong to the
Exchange, and an appeal is to be made
to the courts.
The failure of the Bank of Prairie Du
Chen, Wis, is announced. 1t was a
private institution, with small capital.
There is now very little fractional
currency in circulation below the de-
nomination of dimes, and, as the coin
age of the new. fiye-cent piece goes on
actively, they Wall soon be entirely can
celed. Congress should authorize the
/ coinage of dimes. This is a kind of cur
rency coz. traction that would meet with
no opY O1tion; for no matter what
| opinion people may entertain regarding
| the eurtailment Of greenbacks, they
unanimously indorse the supersedure OF
| the abominable fractional currency.
The clerk Of San Francisco county,
| Cal, has received q package of deposit
/ tions, to be used in suit wherein the
Bank of Hindostan, China and Japan
are plaintiffs, and G. KoOpmanschap
ct al. defendants, which has travelled from
Hong Kong through Asia, and all the
way across the European and American
continents to San Francisco. The pack
| age is crowded with government stamps,
amounting in value to the sum of
e2 As. 4d. sterling.
The New York Herald makes the
startling announcement that " the rail-
road companies are running riot in the
plentitude Of their influence. They are
| buying up the legislature, buying up the
aldermen, buying up parks and squares,
and, in short, propose to buy up every
| body and everything" Is the Herald
! Included ?
The following important decision has
| been made relative to the application of
| the banks for return of taxes upon sur
plus, claimed to have been enormously
paid by them
| OFFICEOF INTERNAL REVENUE,
Washington, April s, 1857.
I Sir! / have examined a number of
claims for refunded taxes claimed to
| have been enormously paid by the ma
tionai banks. These claims cannot be
allowed as they stand at present, for the
| following reasons: AS the status of
| 1854 and 1865 were construed by this
office, as the amount of undistributed
| earnings which was employed by the
I bank as capital was held to be liable 10
| the monthly tag of l-24th of one per
cent. and as also liable to be included in
| the amount upon which the license OF
| the bank was to be determined.
Certain suits having been Instituted in
the northern district of New York, il
was held by Judge Nelson that this con-
structiOn was erroneous, and that the
banks were liable only upon the char.
| tered capital. This decision was believed
by this office, as well as by the secretary,
to be erroneous, and it was for some
time in contemplation to take the ques'
ton before the supreme court for re-
vision. But it was subsequently decided
by the secretary not to take this course
but to yield this p9int T. the banks, 81
far IS future assessments were TO bt
affected, and this disposition, it was be
lieved, would be satisfactory to tht
hanks, and as the nature of compro
mise, so that 1 am not st liberty Il
refund any taxes which were paid priol
to July, I89e, in accordance with thu
construction then l4aiptgined by thi
office. Several Of the claims hefevitl
returned purport to be claims Of nationa
banks for the refunding of the monthly
tax upon a portion of their capital. |
thsae taxes were actually paid by ma
tional banks, and to this Office, th'
claims are entitled 10 consideration, a
the monthly tax upon capital, imposes
by section 110 has never had application
. to national banks. Very respectfully,
II FHQMAS HARLAND, Deputy Com 7.