The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-24

subcommittee OF the Committee OF Commerce %
prepare o DILL for the revival OF American COM
MERGE.
The New York Central Bonds Tax Dectsion.
The following internal revenue decisions have
been rendered.
I. Commissioner Douglas decides that the issue
OF interest certincates to the amount Of s2S om
on tho 18TH day OF December. 1868, by the New OrK
central Railroad Company, Is Substantially scrip
dividend, and taxable under the internal revenue
2. That the admission or the company made, and
YET OF record. when the SAID certificates were Is
sueds that they were based on the earnings or the
road and expenditures OF The COMPANY, equal in
amount 10 eighty per cent OF the stock OF tine COM
dendl Is binding ana be dlsregarded against
the rights OF the government, though subsequently
coniradicted by me testimony OF the counsel OF the
company; that the Commissioner IN the matter OF
admissions and contradictory explanations has the
power oil court 70 Judge OF ana accept or reject
the explanatory evidence.
3. That only. such earnings, incomes. gains or
pronts as are represented aiter september. 1862,
the date oil the first income tax law, are liable 10
taxation.
4. That the measure OF valuation for the taxation
OF scrip dividends Is generally the 'marke, vaiuer
but that where by the admission Of the company the
scrip actually represents dollar FOR dollar OF face
then the valuation thus solcmnly given by the CON-
pany VIII prevail IN adjusting taxation
8. That 30 much OF the dividend as bclongs to the
period IRON September, 1862. 70 september ls0s Is
TO be taxed. In this case the dividend covering In
time fifteen years. earnings, &C., slx-fteenths or
the whole beng the proporllonate amount between
six fifteenths amount to $92l4, 400, on which tax
OF five per cent should be collected.
Vincent Colyer's Resisnation-Correspo
ence the Subject.
Mr.. Vincent Colyer furnishes the following cor
respondence concerning his resignation o. mem-
Der of the Board OF indian Commissioners which
resignation was accepted by the President to-day
WASHINGTON; ID. c., Feb. II, 1872.
SIR-I have the honor TO herewith tender my RES
ignation as a member OF the Board OF Indian Conf
l was not aware OF the precise contents
OF the letter OF The secretary OF the
aware At the time Of my resgnason Of the Secfe
taryshp that some such letter had Oeen received.
aa re ns w oe ao9Gy or
0Dedlent servant, VINCENT COLYER.
To the PRESIDENT.
LETTER CALLING on HIN TO RESIGN.
DEPARTMENT OF THE INTERIOR,
WASHINGTON, ID. C., Jan. ~, 1872 !
| Hon. FELIX X BRuNor, Arlington House. WASH
SIK--I oeem 1t necessary for the welfare and
which the Board OF indian Commissioners is con.
nected that this Board shall change its Secre-
tary. l have entertained the opinion Tor several
months that this charge Is necessary, but FOR pru-
dental reasons connected with the service have
waited for proper time and occasion to express It,
l may add that nave made known TO the President
| rs well rs the Commissioner Of lndan Affairs my
intention to make this request, ana l am per-
mitted to say that they JOIN with me IN a
expression OF regret for the necessity this
letter, wen as an earnest hope only that the
| request may be complied with cheerfuy, but thai
the motive which prompts 1t may he fully appre
| clated. desire to express TO you, and through
| you to each member OF your Board, the most sin
| ccre sentiments OF regard and esteem Very re
specially, your Obedlent servant,
| q. DELANO, Secretary OF the interior.
The FOrtiGcatiOus.
| The Fertilization BILL as matured by the Commit
tee on Appropriations, contains tile following
| iuems:-
| For Mane-Forts George. $50. 900; Prebe
| $42, 500: ScammelI 1900; Battery on Portan,
Head, $50, 000
| For Observation-Disclosures Warren, $sj, 900; Wood.
| bury. $4,000; independence, $4,000; Adams
| SS5,OO.
| For New YOrk-FOris SCHUYLER, $S5, 900; Wlleps
Point, 1880; Wood, SIT. 900; Hamilton $40, 900
| for fort on the site OF Fort Tompkins, $4,000
| Battery Hudson, S17,00J.
SeventytwO thousand dollars are appropriated
for Fort Miflin and S42 500 for new fort opposite
| Fort Delaware.
Appropriations have been made for the forts IN
the South and on the Pacific coast including lamp
| ton Roads, $4,000; Moultrie, $4,000; Sumter,
| $4,000.
The entire appropriations for fortincations amount
| TO nearly 81, 000, 900. .-., Z.