The Republican journal., 1869-04-15
BELFAST CRY BONDS Nor TO BE TAN

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Revenue Laws provide that all companies
making dividends, and the bonds of all cor
porations, of certain description, shall
pay tax of five per cent on the dividends
to be deducted from the payments to the
holders, and paid to the United States. In
order to ascertain whether the bonds of the
Belfast and Moosehead Lake Railroad
would fall within this rule, Mayor Hayford
addressed a note to Hon. Eugene Hale,
Representative in Congress from this dis
trict, who promptly called the attention of
Commissioner Delano to the subject. The
following is an extract from the decision
reply, that in my opinion the tax is not to
be withheld; that the case presented does not
fall within that ruling of this office In which it
is held that the tax must be withheld when
bonds are issued by 4 State, county, city or
town, In aid of railroad, canal, canal naviga-
ton or slackwater company, whereof the inter-
est is to be paid to the company, whether the
interest is paid by the State, county or town,
and received from the company, or paid direct
ly to the bondholders-bu that the amount re-
ceived by the bondholders should be included
in their returns of annual gains, profit and loss
This is great advantage in favor of our
bonds, and one not realized in the case of
those issued g in aid Of similar enterprises,
as are the bonds of the other cities and
towns in Maine-the distinguishing fea-
ture being that the bonds of Belfast are put
in the market to pay for stock actually taken
in the road. An advantage Of five per
cent. in the market in favor of our bonds
is no small one-being one-twentieth of the
whole income upon them. This will tell
very much in favor Of the city in market
ing these securities. Indeed, we think
the price, which is fixed at niuety per cent
is too low, and that before long they will be
sold at q higher figure.
Ashley, formerly radical member of Com
gress from Ohio, has been appointed by
Grant to the Governorship of Montana.
Ashley is the most INSCRIPTIONS political
knaye that ever disgraced the country.
w lilS Az w 40 u uCulUSi VI SOuSSiCoS He
procured the appointment, as Surveyor
General Of Colorado, of one Francis NJ
Case, having previously made Case agree
to take him as partner in land speculations.
His letters to Case, insisting on that con-
dition, have been published. At the last
election in Ohio, the constituents of Ashley
spewed him out, as the would any other
offensive thing. But Grant the pure and
peerless Grant, with fill knowledge of
these facts, makes him Governor Of Ter
ritory' Does he think this the ''will of
the people, that he pledged himself to car
ry out:
MUSICAL FESTIVAL. AT BANGOR. The annu-
al Choral Festival will be held this year, COM
mencing on Tuesday, May 18th, and continu-
ing four days. Among the eminent solists en-
gagged are Miss Lizzie M. Gates, of Boston,
Soprano, and Mr.. James Whitney, the favorite
Tenore, also of Boston. Mr.. John L. Shaw
Of Portland Basso. The orchestra will be the
renowned Germania Orchestra, Of Boston,
numbering about twerty instrumental per
formers, of excellence. Memberships Grand
Oratorio, St. Paul. will be given at one of the
concerts, with full chorus and full orchestral
accompaniment. There will be Matinees on
three afternoons, one of which will be Sym
phony Concert by the Germana Orchestra
Free return tickets can be had by all who at
tend the Festival by railroad or steamboat
Any who would like circulars containing full
particulars, should send their address to Mr.
F. S. Davenport, Director, Concert Hall, Ban
gor.