The daily morning journal and courier., 1898-07-26
WAR T1X KILLINGS.
Commissioner Scott Defines the Menn-
 ing of the Revenue Stamp Law.

United States Commissioner N. B. Scott a circular giving sixty-two rulings un- der the stamp tax law. They will be found of interest to many persons not clear as to certain provisions of the new law. The rulings are here given;
 1. Checks drawn by United States dis bursing officers against public funds standing to their official credit in per formance of duties required by law do not require 2-cent internal revenue stamp placed thereon. And all checks drawn by officers of states, counties and municipalities for the discharge of the obligations of states, counties and mu- nicipalities are exempt under hection IT of the act.
 ?. No stamp is required on ordinary receipts.
 8. The exemption from tax on ware house receipts for agricultural pro- ducts is restricted to receipts for pro- ducts of this kind, which are deposited by the actual grower thereof in the reg ular course of trade for sale. This does not exempt warehouse receipts for such products in case the property deposited has already passed from the ownership of the actual grower.
 4. An inland bill of exchange, within the meaning of this act, is a bill of ex- change drawn and made payable any, where in the United States. 5. Any order for payment of money drawn in, but payable out of the Uni ted Statac is Ir1I1 Sin crlU ic GI1hiarf to tax of 1 cents for $100 or less, and for each additional hundred dollars or fraction, cents.
 6. Where certificates of shares were sold and delivered before July 1, 1898. entry of transfer on corporate books after June 30 does not require stamp. 7 New certificates of stock issued to holder in lieu of original certificate and remaining in his ownership, do not re- quire stamps.
 8. When certificate of stock is sold and stamp tax Is paid on memorandum thereof, upon transfer of this certifi- cate to purchasers name, no additional tax for such transfer is required. Where one certificate represents several shares of stock (however large the | number of shares), on transfer of this certificate the stamp tax is to be reck- oned on it's face value, and not on the face value of each separate share of stock which it represents. g. A 2-cent stamp is required on an order for cash drawn on merchant by | one of his customers.
 | 10. Certificates of deposit drawing in- l terest, if left certain time, are taxa ble the same as promissory notes. l H. The withdrawal of funds by a de- l positor on the presentation of his bank l book to the savings bank does not re- | quire a stamp, if there is nothing ac- companying it in the form of an order | for the payment of money.
 F. If papers in the nature of receipts are given in lieu of checks, and are used as commercial negotiable instruments | they are checks and not receipts, and are subject to tax.
 | 13. Where certificates of stock are de- l. livered as collateral. the stock to be | forfeited only upon condition of failure to pay the debt for which it is pledged stamp is required as pledge and not as a sale.
 IA. Real estate mortgage notes re- | QulIe u Uc oldlllpeli, III duulllOH u LIIt | stamps placed on the mortgage | 15. Where there is a pledge of proper ! ty accompanying any promissory note which pledge is subject to stamp ta1 under Schedule A, this stamp tax must l be paid, notwithstanding the fact that l a stamp is also required on the note | connected with it.
 16. Only purely cooperative or mutu- al fire insurance companies carried or by the members thereof solely for the protection of their own property, an6 not for profit, are exempted from taxa. tion.
 | 1T. Assessment beneficiary life insur. | ance associations insuring their owr
 members, and not for profit, come with in the exemption provision.
 1S The exemption given to fraterna
 beneficiary life insurance associations applies also to fraternal beneficiary ac.
 cident insurance associations.
 19. In cases of loans on real estate
 where promissory notes are given
 which are not paid at maturity, but or which an extension of time of payment | Is granted, without the taking of a nev
 note, it is held that every such exten 1 SlDu IS ct FeHGWdl Ol lHe note within tn( | meaning of the statute, and that tn, l requisite stamp must be affixed for ev
 cry such renewal or extension. Thi 1 also applies to notes discounted before
 July 1, falling due on or after that date
 20. The person who signs and issues
 bank check, without affixing the prope l stamp, becomes involved in liability tt | penalties under section 10 of the act
 unless it is shown that he had no de
 sign to evade the payment of the staml
 tax, and that the requisite stamp wa affixed and cancelled by the bank ol
 person upon whom it was drawn. be
 fore payment.
 21. Where a check is presented at
 bank, without having the requisit
 stamp affixed, the bank, if it pays sucl
 unstamped check, becomes liable to tn
 penalty provided by section 10 of tn
 act. Banks may cure defect by affixin
 proper stamp.
 g. Bucket shop proprietors givin
 memorandum of transactions are re
 quired to pay special tax as brokers.
 23. Where tax of 10 cents is paid O
 the bill of lading for goods exported,
 is held that no stamp tax is required
 be paid on copies of such bills of ladine 24. On inland bills of lading leach dl !, plicate" requires "a stamp of the yalu of one cent.''
 25. Bills of lading for expectations b