Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1898-06-18
WIN WAR REVENUE BILL
Which Has Just Passed Both Houses
Of Congress.
THE COMING ISSUE OF BONDS

THE COMING ISSUE OF BONDS.
Secretary of the Treasury Author
ized to Borrow 800, 900, Ooo-sil-
Coinage OF at Least 81, 800, OOC
MonthIy-ofl, sugar and Tea Taxed
Washington, June 1.-THE war rev
enue bill which has just passed both
branches provides that the act shall
take effect on the date of it's passage
except as otherwise specially provided
for.
The following Is an abstract of the
measure:
A tax of So on all beer, lager beer
ale, porter and other similar fermented
liquors, brewed or manufactured and
sold or stored in warehouse or re-
moved for consumption or sale, for
every barrel containing not more man
81 gallons. and at a like rate for any
other quantity or fractional parts Of a
barrel, with a discount of ~ per cen;
on all sales by collectors to brewers Of
the stamps provided for the payment
of the tax
An additional proylso was added, as
additional tax imposed in this section
on all fermented liquors stored in ware
house to which q stamp had been at
fixed, shall be assessed and collected
in the manner now provided by law for
the collection of taxes not paid by
stamps"
The following special taxes, to be-
come effective July /, were agreed
upon:
Bankers employing a capital not ex-
ltal. Brokers, $50; pawnbrokers, $40;
commercial brokers, $40; custom house
brokers, $40; propriebors of theaters,
museums and concert halls, in cities OF
more than $4,000 population, 500; cir
cuses, 500; all other public exhibitions
or shows for money not enumerated
here, SO; Bowling alleys and billiard
rooms, IS for each alley or table.
In lieu of the tax now imposed by
law. tax Of u cents per pound upon
all tobacco and snuff, however pre-
pared, manufactured, sold or removed
for consumption or sale; upon cigars
and cigarettes manufactured and sold,
or removed for consumption or sale,
the following taxes, to be paid by the
manufacturer; $3.50 per thousand on
cigars weighing more than three
pounds per thousand; 81 per thousand
on cigars weighing not more than three
pounds per thousand $3.50 per thou
sand on cigarettes weighing more than
three pounds per thousand, and $3.50
per thousand on cigarettes weighing
not more than three pounds per thou
sand. There is a compromise provlso
in regard to the taxation of the stock
on hand, which exempts less than 1000
pounds of manufactured tobacco and
zoe. 900 cigars or cigarettes.
Dealers in leaf tobacco, whose actual
sales do not exceed $4,000 pounds each,
Sc. Those whose annual sales exceed
$4,000 and not 100000 pounds, $12, and if
their annual sales exceed 100, 900 pounds.
$24. Dealers in other tobacco whose an
nual sales exceed $4,000 pounds, $12.
Those selling their own product at the
place Of manufacture are exempted
from this tax Manufacturers of to-
bacco whose annual sales do not ex-
coed $4,000, Sc. Manufacturers whose
sales exceed $4,000 and not 10000
pounds $12, Manufacturers whose
sales exceed 100000 pounds, $24.
Manufacturers of cigars whose
annual sales do not exceed
100. 000 cigars, Sc Manufacturers whose
sales exceed 100000 and not 100000 ci-
gars, S12. Manufacturers whose sales
exceed 100000 cigars. $24.
Sections I and s provide for the is
suance of tax stamps and penalties for
violations. Section l6 eXempts govern
ment, state, county and municipal bonds
from the operation of the law, and also
the stock and bonds issued by cooper
alive building and loan associations
whose capital stock does not exceed
$4,000. and building and loan associa-
tions or companies that make loans
only to their shareholders.
Bonds, debentures or certificates of
Indebtedness by any association, COM
pany or corporation on each hundred
dollars of face value or fraction there
Of 5 cents, or on each original issue,
whether on organization or certificates
of stock by any such association, COM
pany or corporation on each 500 of face
value or fraction thereof. cents; and
on all sales or agreements to sell or
memorandum of sales, or deliveries or
transfers of shares or certificates of
stock. on each $1C0 of face value or
fraction, cents. In case of sale, where
the evidence of transfer is shown only
by the books of the company, the stamp
shall be placed upon such books, and
where the change of ownership is by
transfer certificate, the stamp shall be
placed upon the certificate; and i'm cases
of an agreement to sell, or where the
transfer is by delivery of the certifl
cate assigned in blank. there shall be
made and delivered by the seller to the
buyer a bin or memorandum of such
sale, to which the stamp shall be affixed.
Upon each sale or agreement 10 sell
any products of merchandise at any eX
change, board of trade or other sim
ilar place, either for present or future
delivery, for each 500 in value of said
sale or agreement Of sale or agreement
to sell, cent, and for each additional
500 or fractional part thereof in excess
Of $500, i cent.
Bank check draft or certificate of
deposit not drawing interest, or order
for the payment of any sum of money
drawn upon or issued by any bank.
trust company or any person or per-
sons, companies or corporations,2 cents.