The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-08-15
.FhO.N W.ASHL.NGTO.H.
rhe Liability of shIabuilders to Taxation.

The Liability of shiabuiIders to Taxation.
Despatch TO the Associated Press.
WASHINGTON, Aug. 15.-The recent instructions OF
the Internal Revenue ONCE suspending the collec-
tions OF taxes on shipbuiders' sales at Norwich,
Coma, are intended to apply generally to all ship
shipbuilders to tax under section - OF the act OF
March 81, 1885, is being now considered by the Inter-
nal Revenue Oice, though claims for the refundiug
of taxes already paid on shipbuders' saes founded
upon the nOnlability OF shipbuilders to taxation,
Will not for the present be entertained.
The supply of Bullion.
Dr.H . K. Linderman. late Director OF the Mint at
San Francisco, leaves Washington to-day under in
structons Of the Treasury Department to make an
examination of all questions connected with the
supply of bullion and the assaying and coming of
the precious metals.
The Issue Of Gold Notes.
The Comptroller OF Currency will In day or two
issue circular with relation TO the organization OF
national banks for the issue OF gold notes. which will
yiding for the redemption Of the three per loan
certificates and for The increase OF national bank
notes. approved July II, 1870, having reference to
the subject, besides other general instructions with
regard thereto. The circular states that national
banks for the issue OF gold notes can be established,
and would probably be successful and profitable at
any point where direct trade with foreign countries
Is carried on TO an extent sufficient to furnish en-
poyment to the capital and means OF the banks and
those cities or States where business is transacted
hie1y entirely on a coin basis. But in the small
Interior towns OF the Atlantic Western Cities it is
not at all probable that such institutions would be
profitable or satisfactory to the stockholders Banks
for the issue OF gold notes are TO be organized as
provided In the original la on that suolect:-
First. Parties subscribing TO the capital stock,
not less in number than ive should execute articles
of ASSOCIATION, after which the organization certi6-
Gates should be prepared, forms for both OF which
are included in the circular certified copy OF the
articles OF association and the original OF the organi
Zaon certificate should be filed with the Comptrol-
Ter OF the Currency. The cash paid in must not be
less than fifty per cent OF the entire capital sub
scribed. The amount OF bonds to be deposited must
OF the psd-up capital of the bank.
When fifty per cent OF the capital Is paid
in certifate OF the officers and directors OF tue
bank is to be made in form prescribed by the cir
cular. Before taking any decided steps for the
organization OF O bank, parties requested to
correspond with the Comptroller OF the Currency.
Applications may be made by Others, and letters
should state the locality where the bank Is required,
nOmng the city or town, the population a general
estimate OF the Kind and amount OF business, the
names OF the principal parties who propose TO or
ganize the bank, with information TO their char
acter ana pecuniary ability. The minimum capital
with which a bank can be organized under the
general provisions of the act is one hundred thousand
dollars.