Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1881-10-05
Taxation of Bank Denosits.

LaSit!a;uio in addition to electing Col. Came
roc Govtinor.'
Taxation Of Bank Deposits.
Commissioner E.um. Of the Bureau of Inler
nal Eyv, nue., yesterday rendered tho following
decision 10 rtlltion to tsxaicn Oh banks aud
bankers
where deposits arc ualo OF checks or drafts
| witch gro Immediately clrliod 10 the credit o
| the dsposltur, and whoa are sui cot q. otco 10
payment by check or Craft, they must bo treat.
! Cd as taxable DEPOSITS on The dry The saDo ore
received AID eutetld to tho credit OF tbs drpos-
iior; bu, 10 Oidstiug tho deiiy bllanoes of da-
pests, cOarlDg house settlements will b. rn-
G ga!Z;J. and blGks and bankers will rec if
thu CaaDceS aDpesrtg en- their books at tho
cllso Of cscl days business, By daduc;iug the
enl0un: OF checks received ttJM tho C.ariug
house cich m0tnias, srDaIit Z suoh checks 81
| though they tad bcun received and cla!g up
before tho o3sa OF business on tho previous day.
Where baker boucws money upon The pledeo
| OF stocks or bonds. FIR the purpcso OF ,mplot-
l:g paymsnt Tor tho Same sti cks or bonds, tho
| monty SO receive clnnot b treated ns d6pos
it within ths meaning of the statute Whare
| banker rrcci7cs money for INN ,dia;o Invest
ment ID bonds CT stocks. either in partial or
1 al psgmnat Tor tho sauna. and such money is
81 invest,d on the dap il is received, or on tSe
| tolloTirg day, il il not dcposi'; bu. where
| monty Is rto3ivtd far lu ure Investment 10
hoods or stocks 1t worl be subj c. to tho oEdtr
OF tho customer. and must therefore b, treated
as dcpcsi. subject to isxs.ion. Where b.rk-
| er sells binds or stocks rcc;ived FROM ar hsd
ny lin ior customer, md RENTS thc proceeds
on tho day tho SANS ai5 received, or the follow
lc2 dag, inc AMOUNT Is E5t deposit; bat Acrc
such lrtc edI gro carried to the c!eci, CT the
customer and held SUI 'ot TO his check or dfaf
| such money IS deposit suit lct to taXation.
Where moEty, CHECKS or dsai,a afo received By
b'tk Or banker. sol carried 10 the cYn3i. Of
| the sar5an who delivers iao esuc Or for wh1se
use the ssaio d: de':9, red, they b:ooma, AID
are. dcposi: IL :hc hands Of he b.uk or bank
CT, ard su' &C. to cheek or daft, or psynont
on tho returr CT Certificate OF deposit, or 9th.
er evidence Of deb, they are dcpcst sahj. c.!
TO axaiUa, Thether The m1nu; be pcyabIe On
d.mstd or at sono future day, With or wi,hou.
lottrcss, aud Rhalheg III. lepositor be secured
b. cJllte.alS or ooi. BuG wAer, b,rk
which. ny its charter. hes authority to b ,rroS
| nouo7, or Ir.va!9 banker CO.'S ist, The
market 1nd ncgotiatcs Tor, and Burrows money,
to stclrs ths paGmtn. OF which notes are
given. CT boucs OF stocks tls6go6, the
money 20 o2tsinel j; no! dspoaL, and il not
subject to taxation IS such. Deposits mazda with
5ank Or banker. railo1 with tho other funds of
tho esnk, although received for tpscisl purposos
III n e. Fer instance to pay dividends or interest
COZ 1onE or - provide Tor olhsr payments are
subject TO t.Istion. but u special deposit Of
money held intact, TO bs returned to tho dsposi-
tor, is 80. sabeci 10 taxation as O deposit Banks
ard bankers when making up their returos for
taxation are no! entitled to deduct from tho bal.
aECeE OF the deposits shown upon their books
amounts of money in possesaion snd not ia.
vested, nor amounts Of m1noy redcposted with
other banks or bankers. Tho business Of
brtk ar IL to purchases or sales OF s!ocks
bonds. exchange. bullion, coined money, bank
notes prt m'ssory notes, or othor securities He
tsses no possession ~ broker of tubect matte.
OF The negotiation. EVer7 person, frm or com.
pGay having place Of business WHO'RE stocks
1oads, tu!ii>n, bills OF exchange or pro ni,sory
notes are received for discount or tor sale ia re-
s.rded III law as bank, or a. s banker, and the
capital and depoilts of such bank or banke. are
subject to taxation as provided in section 5 4 S
United State Revised Statutes. Where oh :css
or drafts s!e received for collection End remit.
taco, aud aro collected AID RENTED for the
following dsy. tho collections should no. bs
treated IS y deposit; but Vhero the money col.
lsctod is held by tho collecting bank and ronnit.
led at o subsequent tims during tho periol i. ls
30 held. 1t thoud ba treated rs deposit"
ROMANTIC Mis- Clara Iamiltoo, tbs II
y:a.s cid daughter o! Gov William r. Iamil.
100 hiss b1eu FIR several months receiving attcn-
tiors from MIR. Joho S>auhop,. yourg nao
20 years old. and it was we'll known q sGr1rg
attachment had sprung up b4txeu tho two. Ii
WAS tq1aly we'll kooTn that lho Hamilloos %
jectcd 10 tho c.urtship because they considered
Clara 100 young to marry, and bccluso of
Stsohopes iaoior social sanding aud lack Of
nescs to suppor. wife. Tho lCvsr was for.
bidder The Hamilton matsicn, but Tho young
people lrtIuc1.ly INST at social gatherings. Ii
was learned yesterday that 90 August II they
won't to Pen naT, rcsorl 90 the su % nit OF the
Blu, Ridge Mountains. and were m.rfild 90
tho tcamtG: peak ~ Rev. Mr. Murray, Of
Westminster. Alter Tho marriage MIR. and
Mrs Stsuhope roiu.teG to their respective
families, aud Go iot!m .,ioa Of Whist they had
dopo Ho r, csived ulil last Saturday, Haen q
irisnd OF Governor Hamilton discovered the
marriage Eeosso of tho couple % GIe 10 the
oelk'5 ofiics OF Carroll cJualy. The youog
lady vas charged With tie marriage aud ad-
mjtted that sec was Stenhopo's wife. The groom
has made several efforts 10 SEQ his little vile.
but withCu. sucoi 81, as she hss been secluded
10 her father 8 hous, Stanhopa is be son of the
canal superintendent. quite boYish 10 appear
snce and rather GOOD Looking. His wife has
$25 900 10 her oNn right aud is tho iavoti,e
dsughle: Of her father. who ia very wealthy,
Nelson w Aidrich will, it is e1pectei. be
eec!nd tho successor OF the late Sen.t1r Burn.
side by Tho Rhode leland General Assemblv In.
day.