New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-08-18

brokers or bankers, any gold or silver bullion coin or
promissory notes stocks bonds. other securities not
or se gs SS pESpey 6e aS pc Sd Sa a. hs
or contracts Section ITO provides the taxes that are m
paid by the banks and bankers character aud form ot
their monthly returns aud penalty for any refusal
neglect 20 render return and payment IL Is for enforce
been commenced but II Is mmaterial for the purpose
question to state particularly the provision OF tho
careful TO exclude all popular definitions OF
which is intended TO tax and has embodied in statutes
meaning Of the terms "banker' And "broker" IL there
stated WITH precision and we are not 10 look sor y "
vacations II Is clear that every person who keePs
sale or who. in other and eSuiyaient words
makes bis business to receive and sell stocks et with
and i s equally Clear shas every person whose bSs
1t is 70 negotiate purchases sales OF stocks must
tinctiOS thus made In the very same section
between the business Of receiving stocks 70,
stocks n impossible 70 suppose that the business Of
brokers are divided Into two classes; the regular
broker who purchases and sells stocks bonds &C. on
and delivering the same and smaller oPerstOr.,
capital finding sellers and purchasers the specified
Ss word a %o 70 T nss
may be merely making contract, OF Il may actually
erty. II is mmateTia how brokers classified In New
York II they not classified In the lave Tie
statute shows that there is no such person as a
stocks, receiving and delivering The same
it is used in this statute am constrained 20 deny en-
tirey the statement that TO negotiate may be merely
action by the receipt or delivery Of the property
%hen the eOntrae. IS made made negSsualiSSn Is endsd
delivery OF stock sold, Is merely ne
execution OF the contract and IN this negotiation takes
no part The negotator Of tbe contract may be author
lied by his employer also 20 execute H. bat In doing 80 a
in the other by naccuratey describing his subsequent
az only Sompeting his Transaction The ne.
handles neither properly nor proceeds and has oppor
from the sale The receiver Of stocks for sale receives
the proceeds OF the sale and mnges them with his owl
remain with him. precisely he may make profits FROM
deposits lie classified as banker for the purposes
Of TAXATION just because he adds TO his function Of nego
tiatiBe arrangement by which he may use tha
proceeds Of his sales as business capital.
stocks sale he negotates does ell that dono BY
banker in making such sales and he combines the yery
and therefore he must be taxed IS banker The srgo
ninety section where sales made by brokers afd
mentioned. IL claimed that congIess
the transaction Of sale by receiving and devenDg stock
stl only brokers such an argument Is tnappeSb9
20 this question: until t Is shown how Congress speaks %
persons brokers who have places Of business wheta
sy make i Their 70 s9s ss sa's s o
account Of others by persons VINO are noeven D1oss
their business negotiate such contracts without beco
ing liable 10 be taxed as brokers' Undoubtedly nos
casual person Into a broker every sale delivery
that would convert a broker into banker. " brOses
patioS Of the statute make a practice Of receiving
stocks, whose sale he negotiates, he cannot wei
made 6y him is properly described as sale made by
broker II the object Of this section TO reach al sae
another and TO furnish definition for terms already
defined The rule that all parts OF statute are 70 be-
applicable oaly when there Is reasonable question
SG s 'e nrees S1,,aa II nav he ADDED boTeSr
with reference 20 the meaning Of the term negotiate
Sppesled TO enumera,es sales made and contrnes Zoe
sales negotiated and thus naples definition Of term ~
statute OF the opinion that person whose basnesz
Is 20 nssS ss enS Of eos ~ act 81 June So
others whose sales he negotates OF where money
Is advanced or loaned on stocks
The truth about the application OF The test oath 10 the
members elect the Legislature IN Virginia is that thu
question whether IL must be applied has been sub
United TO the Attorney General ,or opinion. That
gentleman Is absent from the city, and noghing VIII
be done IN the matter until he returns.
Secretary Rawins left here this evening 20 Wilt lii
family In Danbury, Conn.,, that there 10 not single
Cabinet officer left IN the city Secretary Fish lie 40
his country the Hudson, Secretaries Boutwell, and
Hoar are Massachusetts, Secretary Cox Il "a OHIO Sec
rotary Creswe s at his home Elkon, and Secretary
Robeson is in New.York.
Supervisors OF Internal Revenue Fulton OF Maryland.
TOtten Of Pennsylvania and butcher OF New York
in the city today and bad private conference wiih
Commissioner Delano on matters eobhectsu VITA t"o "
ternal Revenue.
The farmers along the banks Of the Gunpovder River,
in the vicinity Of tho Philadelphia Baltimore. and viii
mington Railway suffered considerable loss TO their crops
and fruit by severe hailstorm Friday
afternoon. After the storm, which lasted
but short time. farmer picked
up nearly 100 Of peaches that had been knocked
from the trees In hs orchard Large fields OF wsFo
entirely prostrated schooner loaded with frnt ana
grain capsized in the Gunpo wder River but W"
crew saved, and the vessel rgted the folo~-
ing day. The hail lay the ground upward OF u'reo
hours before il entirely disappeared.
private letter received here today from the Vir1hA
Springs announces a decided improvement In the heath
OF the Phllanthropist. George Peabody.
NEW CUSTOMS NEUTRALITY-SUSPICIOUS. %
STATE AND MUNICIPAL fEEs-LARGE Or
pERs FOR TOBACC0.STAMPS.
tGRHERAL PRESS DISPATCH
The Commissioner Of Customs writes 20 the Collector s
that fees collected under State aud Municipal
Ia va are unconstitutional. and shall hereafter In no m
sance collected This aboshes fees except the fol.
Having imposed hy the United tax ~ 80
per un annually vessels 10 the Collector Of Customs
or the different ports where they belong wen az ices
The following are mentioned among the fees ano.'
HaFbOr tunnage tax, pilot, license, ana hat po
age laws port warden Zee laws oyster tunuage Tar ave
State head-mOney fee laws state hospital tax aws
laws. Under this ruling Georgetown ID C must re'u""
ts 600, and Alexandria, Va. $4,000 .,..a.~ 81,
The orders for tobacco stamps received y.steIuAy,ss
the Revenue office, larger Ia number aha akeb~0
amount than ever before received IN any one day -,
The otai revenue receipts all sources during tho
fiscal year ending June 90 1899. we're tlSS'""Vo"
o---
THE INDIdNS