The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-06-19
THE NEW SCHEDULES
AND THE ARTICLES tanned CN
DER THEM,
A SWEEPING WAR MEASURE
That Taxes Everything in Sight Except the
Great Trusts and Combines They
are About the Only Ones
favored.

n printed copy OF rue new wax AdAih
and revenue bin has been received. 1t Is
entitled IAN act to provide ways aro
means to meet war expenditures and
for other purposes.
SUMMARY OF THE NEW TAXES.
The changes of most interest to our
people are noted below:
We have heretofore printed some Of
the more important changes and we print
herewith well-prepared summary, Of
the entire BILL Some of the clauses and
schedules of most Importance to our
readers are as follows:
Under special taxes are included
banks, bankers. brokers, shOwmen, the
alters and theatrical propriet0rs, Banks
Banks with less than $4,000 are tax
ed $50. and for every additional thou
sand dollars of capital stock, including
surplus fund, a tax of $500 per thou
sand.
Persons. firms or corporations doing a
banking business are included except
saving banks having no capital stock
and only receiving money for investment
for the benefit of the deposition.
All stock brokers are taxed $1,000.
Pawn brokers pay $1,000.
All commercial brokers offering goods,
ware or merchandise. are to pay $1,000.
Custom House brokers $1,000
All propriet0rs of theaterS. museums
or concert halls, i'm cities with over %.
600 population. 500.
All circus proprietors 800 each for
each State in which exhibitions are held.
All other shows or public exhibitions
for money, $40.
Bowling alleys or billiard rooms, $500
for each alley or table.
Section three of the act provides for
the additional tax on tobacco, cigars,
cigarettes and snuff. a synopsis of which
we have already printed.
Leaf tobacco dealers handling under
$4,000 pounds are to pay $500; over
$4,000 and under 100000 pounds, $12;
and over 100000 pounds. $24
All dealers in manufactured tobacco,
snuffs, or cigars. whose sales exceed
10000 per annum. $1,000
All tobacco or cigar manufacturers are
to pay special tax, under this act, of
$500. if sales are under $4,000 pounds
of tobacco or 100000 cigars, $500 il
over $4,000 and under 100000 pounds of
tobacco. or over 100000 and under 900
600 cigars and $2400 if annual sales are
in excess of 100000 pounds of tobacco or
100000 cigars.
Any person convicted of violating, this
act. REFUSING, counterfeiting or in any
such manner attempting to defraud the
government must pay fine of not eX-
ceeding 81 900 or be imprisoned not ex-
ceeding five years.
In addition to these changes the faxes
embraced in schedules A and Il. are the
most important. We embody the more
important items in schedule A..
STAMP TAXES.
Bonds. debentures, or certificates of
indebtedness issued after the first day
of July, Ammo Domini eighteen hundred
and ninety-eight. by any association,
company. or corporation. on each hun
dred dollars of face value or fraction
thereof, FIVE cents, and ON each original
issue, whether ON organization or re-or-
ganization, Of certificates of stock by
any such association, company. or cor
poration, ON each hundred dollars of face
value or fraction thereof, five cents,
and on all sales, or agreements to sell.
or memoranda of sales or deliveries or
transfers of shares or certificates of
stock in any association, company, or
corporation. whether made upon or
shown by the books of the association,
company, or corporation. or by any as
signment in blank, or by any delivery,
or by any paper or agreement or memoir
andum or other evidence of transfer or
sale whether emitting the holder in any
manner to the benefit of such stock, or
to secure the future payment of money
or for the future transfer of any stock, on
each hundred dollars of face value or
fraction thereof, two cents; Provided.
That in case of sale where the evidence
of transfer is shown 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 GER
tihcate: and in cases of an agreement
to sell or where the transfer is by de-
livery of the certificate assigned in blank
there shall be made and delivered by the
seller to the buyer a bill or memoran-
dunn of such sale to which the stamu
shall be affixed; and every bill or mem.
Orandum of sale or agreement to sell
before mentioned shall show the date
thereof the name of the seller. the
amount of the sale. sand the matter o.
thing to which it refers. And any per
son or persons liable to pay the tax as
herein provided. or anyone who acts in
the matter as agent or broker for such
person or persons, who shall make any
such sale, or who shall In pursuance OF
any such sale deliver any such stock. OF
evidence of the sale of any such stock
or bill or memorandum thereof. as here
in required, without having the proper
stamps affixed thereto, with intent tc
evade the foregoing provisions shall be
deemed guilty Of misdemeanor, and
upon conviction thereof shall pay a fine
of not less than five hundred nor more
than one thousand dollars, or be i'm
prisoned not more than six months, OF
both. at the discretion of the court.
Upon each sale. agreement of sale. OF
agreement to sell, any products or mer
chandise at any exchange, 'or board oil
trade, or other similar place. either fol
present or future delivery. for each one
hundred dollars in value of said sale OF
agreement Of sale or agreement to sell
one cent, and for each additional one
hundred dollars or fractional part there
of~fA excess of one hundred dollars, one