Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-01-25
TRANCE AND TRADE.
OFFICE or THE DAILY APPEAL,
MEMPHIS, January p, 1871.

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We copy from the Nashville Banner the
following report Of the new tax bill
passed by the Legislature on Saturday.
It differs mainly from the old one, in that
1t changes the tax on all taxable property
from four TO six mills on the dollar. The
schedule Of what constitutes taxable prop
erty remains as heretofore, except changed
by q bill now before the Legislature,
which adds several items:
SECTION 1. Be IL enacted 5y the General
Assembly Of the State Of Tennessee, That
the state tax on every hunaTed ooHars'
worth Of property, upon which taxes are
by law allowed Tor State purposes, shall
be sixty cents.
Sec. 2. Be &c fUTtier eH1cJed, That in ad-
diti0n TO the gd val0rem tax TO be paid By
merchants on their capital, they shall be
liable and required to pay q license tax
equal In amount 10 the ad vslorem tax:
Pr0uldci, that in no case shallstbe license
tax be less than i've dollars; and section
8 Of the act, passed January 10, 1870, en-
titled, An act to amend the revenue
laws Of the State" is hereby amended In
accordance with the provisions Of this act.
Sec. s. Be Il further enacted, That the
first Of chapter a Of the acts Of 1870, en-
titled " An act TO TX the State tax on
property" is hereby repealed.
SsC 4. Be it further enacted, That every
travelling or local agent of any insurance
company, whether State or foreign, doing
business in this State, shall pay an annual
privilege tax Of twenty-five dollars to the
State and ten dollars 10 each county in
which such company or companies may
have @ local OF travelling agent doing
business, and If the agent or agents OF
said companies shall take risks without
the payment of said State and county
tax, he or they so offending shall be guilty
Of a misdemeauOr, and each offender shall
be hued not less than one hundred nor
more than i've hundred dollars, one-half
Of the fine to go TO the inf0rmer, on con-
victiOn, and the other half to the State.
Clerks Of County Courts shall see that
this section is strictly enforced.
Sec. 8. Be q further enacted, That each
railroad company, and every other incOr-
pOrsted company, except charitable and
religious, doing business in this State,
shall pay into the treasury Ofthe State six
mills on the dollar on the amount of the
net earnings Of such railroad company OF
association; and the President, Superin-
ueudent, Receiver, OF other head officer Of
such railroad company or agent, at any
Office in the State Of Tennessee, of any /
railroad company whose principal Office
Is ia another State, or associations, shall, 1
on Osth taken and subscribed to before g
Justice Of the Peace or other officer aU-
Uh0riZ6d to administer Oaths, show speclh-
Cslly sud truly the amount Of net receipts
Tor the quarter ending on the first Mon
days in January, april, July and October,
IN each year, and pay the tax imposed by
this act: said oath shall be fled and re-
corded in the office Of the Comptroller.
Sec. 6. Be q further enacted, That travel
ing commercial agents, generally known
IS drummers, representing business
parties n0u-r6sidents Of this State, pro-
posing 10 sell the goods, wares, msrchan-
disc or manufactures Of such nOn-resi-
dents, either by sample or representation,
pay a privilege tax Of fifty dollars
per snnum to the State-esch county in
said travelling agent or drummer,
propose 20 do business, nay lay q
tax Of i've dollars. Any person
acting or proposing to act as travel
ing commercial agent or drummer,
as aforesaid, shall first procure a license
from the Clerk Of some County Court, by
paving the taxes aforesaid, which license
shall nos be transferable. A failure to
procure the license herein required, shall
su-iec. the party 60 offending TO a fine Of
one hundred dollars, for the use Of the
State and County Court Clerks. Sherifs
and c0nstsbles shall see that the pro-
visions Of this act are enforced,
Sec. =. BE u further enacted, That this
act shall take eject from its passage, the
public welfare requiring the same.
PROVISIONS.
From the circular of Kennedy. Fckeut
Co., of Cincinnati, dated the 10Th inst,
copy as follows:
'The receipts of hogs at this point con-
liberal for this season Of the year.
footing mp 2,Ss7 for the current week.
Our packing houses are still in operation,
and Il is estimated that 10000 head more
viii be packed ere the season closes. The
waak UHa ana nH HTnHHaurnrF in the ]
provision trade. The advance noted in
last continued during the greater s
Of the week. Holders Of hogs and
succeeded In getting an advance {
Tally. Country spectators bought freely Z
u the advance, but their demands
satisfied, and the increased re- I
Of hogs here and elsewhere G
large, the market became /
luL. Holders being anxious to realize, 4
concessions we're granted. To-day the C
market closes dull and lower, with a
tendency. The reports from {
he various packing points in the West
the details Of which we shall give at 2
.Oms future timeL show q large increase
q numbers, 6 well ss weight, over last q
packing, and also report a large
still feeding, which viii be ready C
o market in spring, and our icG-hOuse
non, who have already a full sup {
In Of ice, are prepared TO handle them.
Hare need be no fear this season Of a 2
cu.City Of hog product. The number Of ]
.OIE packed to date are about 435, 600,
.gsinst 1880 head, total packing, last s
ear"
From the circular Of George ". Phillips, 2
q Co, Of Chicago, dated the Zlst, we
1py as follows: "The week Just closed f
as been a very aCtivs one in the PrOvi-
trade, viewed from a speculative ]
sandp0iut. The storm which set in at the
lose OF the last review, u of the re- q
sipts Of hogs during the early part Of the
rssk, and operators took advantage Of .
be situation 10 force up the price of both
Ogs and the product, in order to sell out T
ute large quantities at an appreciation.
ONE idea Of the extent Of the business q
-~ansacted IN mess pork may be formed
we state that about 6J,000 barrels j
ave been sold and resOld during the q
r6sk ending this 5vening-an average of 7
1000 barrels per day-representing q val q
alton Of $3.50, 600. Other descriptions q
Z products have been sold quite freely, c
ut the transactions were not a. large q
E0p0rtiOustelY IS IN mess pork and lard Q
logs were advanced 50cGSI 90, and pack n
rs were compelled TO advance prices in
rop0rtiOn for eli kinds Of meats, and this Il
rs the meant OF leaving a great many Or
ers untitled, which were restricted 70 q
srtain figures. Again, the shipping IA S
-ities we're meagsr, al the railroads were s.
Icre OF less blockaded with snow, and q
were inclined TO the opinion that Il
"a extreme figures would be sustained ii
f0r q short tims-uutl the receipts OF a
ous were more ubsral-anQ they acted n
q their own judgment to a great extent, v
ID many Of them have prUib6d by the
purse they have pursued. The receipts .
hogs g. the close of the week were
ute iberal-more tEsn generally an a.
by Opsral0rs-and prices Of hogs s
he declining again, and 81 articles in the 2
Of hog products are following quite
The bankers report large 3,
Ofcurrency going 70 the country, b
nt whether 70 move hogs or grain is an 8
ndseided questiCn-DoJh are ruling At 8
ir figures ia this Market s.
IMPORTANT INSURANCE DECISION. i,
The case Of Herman Sturm VS.. The D.
rsat Western Insurance Company, has q
Ist been tried in she Superior Court in d
York. This is the fifth case Of the .
ind which has been tried. All the 9TH y
IS were decided in favor Of the plaintiff. =
our others were compromised. All the
stiopa were to recover the value Of war 2
l~sterials shipped 20 Mexico for sale, /.
UGH Of which had been purchased Of I,
De- Fenian war officers in New York 4.
". This case. which was for the recoV- n
Of q policy for fifteen thousand dol
r. on the cargo Of the schooner h
lmueI T.. Reese, differs somewhat
Tie others. not only In some pOr-
ons Of the testimony adduced, but espe- q,
ally In testimony excluded lamOng n
hich were the shipping receipts. and in 4
le Interpretation given by the o ~ 70
10 facts as proven. OF The cargo Of the q
.hooner, $4,000 was insured In Balti- &
.Ore Offices, viz: SIS. 600 In the Baltimore Il
Once, $500 In the Maryland Fire =,
Insurance Company, and $3.50 in the a.
.srchEuts' Marine Insurance Company,
] Of which offices have declined pay p
.eut. In rendering the decision Of the IN
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