The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-07-06
STAMP TAX ON STOCKS
Important Amendment Added to
the Tariff Bill. ,.
TO DISCUSS THE SUGAR BOUNTY.

Republican Senators Decide to Again
Bring the Matter Up in Caucus
Democrats Declare They VIII OPP
pose the Proposition.
Washington, July Ex-senator Alli-
SOD, In charge Of the tariff bill lsan-
nounced shortly, before the adjourn-s
ment Of the senate last night that as
no agreement had been reached for a
final vote on the tariff bill, he would
ask the senate to remain In session to-
might at least tsuntil the bill was report
ed from the committee of the whole to
the senate This promises test of
endurance unless the opposition to the
bill gives way. Mr.. Allison's state
ment was made after futile effort to
have a time fixed for the vote.
In some respects the senate made
good progress yesterday. disposfng of
two important amendments, that plac-
ing a stamp tax being agreed to with
little or no opposition, and without the
formality of vote, while the Spooner
amendment proposing a tariff invcsti-
tion was withdrawn after protracted
struggle. The stamp amendment, as
agreed to, fixes the following rate on
bonds. etc., Bonds, debentures or GER
tiRcates of Indebtedness issued after
Sept. Is. 1897, by any association, COM
pany or corporation on each 500 of
face value or fraction thereof. cents;
and on each original issue, whether on
. organization or reorganization. of cer-
!, titcates of stock by any association. I
company or corporation. on each $l00
of face value or fraction thereof, S
cents and on all transfers of shares
or certificates of stock in any associa- T
tlon, company or corporation. on each
sl00 Of face value or fraction thereof.
2 cents.
Exemptions from the stamp tax are
made in the case of the state, county
and municipal bonds and the stocks
and bonds of cooperative building as
sociations.
Late In the day several new amend
ments from individual senator's wero
voted on. One by Mr.. Mantle of Mon
tana, reducing the internal revenue
tax on distilled spirits to 70 cents per
gallon, was defeated by Is to Al. An
amendment by Mr.. Mills Of Texas,
proposing tax of S per cent. on manu-
featured products. the proceeds to GO
toward reducing the bonded debt, was
rejected, 10 to IS. Also an amendment
by Mr.. Mills granting 20 per cent. re-
duction In duties TO those countries ad-
mitting gold and silver to their mints
at the rate of 16 to 1--yeas 26, nays 81.
On this vote one Republican, Mr.. Car
ter, voted with the Democrats. Popu-
lists and Silver Republicans in the
affirmative, and two Democrats, Caf-
ferry and Gray, voted with the Repub-
licans in the negative.
Yesterday caucus of Republican
senators was called for today TO con-
slider the advisabillty of reintroducing
the beet sugar bounty amendment.
Senators who urged the caucus based
their arguments upon the ground that
the last Republican senatorial caucus
had decided in favor of such bounty.
This brought out the fact that there
had been comparatively few senators
at the caucus when the vote was taken,
and that some of the absentees would
not agree to be bound by its decision
The Democratic leaders still announce
themselves as unalterably opposed to
the bounty provision, and say they will
debate 1t for an indefinite length of
time in order to prevent Its incorpora-
ton in the bill.
The tariff commission scheme has
been left out of the tariff bill.