The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-05-13

ness OF BANKING sudu pay q SpScldI eAClS
tax, which shall be equal TO one-forty
| eighth Of one per centum each month OF
the average amount Of deposits of none!
subject to payment by check or draft
represented by certificate of deposit o.
otherwise. whether payable on demand
or at some future day"
Persons affected by these provisions are
required to make monthly returns.
EMISSIONS Of payment for ten days are
| punished by the addition of 10 per cent
and for attempts at knowing evasions a
! penalty Of $1,000 is provided
OTHER IMPORTANT SECTIONS.
Taking up the bill at the beginning,
more important amendments are as fol-
lows:
Stored beer, ale, etc, are exempted from
the operations Of the act; the discount on
the beer tax is decreased from to ~
per cent; for the house provision for
stamps on beer, ETC., a simpler one is sub
stituted.
A license is imposed on bankers, ETC., as
follows:
On bankers employing a capital of $50 900
or less, 800 for each license and 50 for
each additional $1,000 of capital, savings
banks being exempted brokers, &c.,
pawnbrokers. $50; commercial brokers, $40;
custom house brokers, SO; foreign insur-
ance agents, $50; proprietors of theaters.
museums, concert halls, circuses, 500
each; other public exhibitions, SO; bowling
alleys and billiard rooms, s. per table
There are great many changes in the
tobacco schedule. The tax on manufacture
ed tobacco, snuff, etc, is increased from
y to Is cents per pound; the tax on cigars
weighing more than pounds per thou
sand is reduced from 81 to $3.50 per thou
sand; on small cigars from 81 to 81; on
cigarettes from 81 to $50 per thousand.
The house provision taxing tobacco on
hand is stricken out.
There is a reduction of the tax on to-
bacco dealers, manufacturers, etc, whose
annual sales fall below IS 900 to Sc, 900, from
the house, which was $40, 900, and tobacco
pedlers are exempted from the operations
of the act There are also similar reduc-
tons on the licenses of cigar manufac-
turers.
PENALTIES.
The penalty for violation OF section
creased so as to make the offense mis-
demeanor punishable by a fine of $780, or
Imprisonment for year, or both. Impris-
onment is also added as one of the penal
ties for issuing or accepting unstamped
documents. Indeed, this addition is made
to almost all the provisions for violating
any portion of the bill
The provision in section H. relating 20
telegraph messages, which in the house
bill exempted free and press messages, is
so as to include these by max
ing the provision apply TO all messages
The schedule relating TO drugs and med
tax on prescriptions.
STAMP TAXES.
The changes made in schedule A. relat-
ing to stamp taxes. indicate that the COM
mittee devoted very careful attention to
It and as a consequence almost every line
is changed.
After the first paragraph OF this |
schedule the following is inserted as a |
Droviso:
That In case Of sale, where the evil |
dence 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 GER
-iticate, the stamp shall be placed upon
the certificate; and in cases where the |
transfer is by delivery of certificate as |
signed in blank there shall be made and /
by the seller to the buyer a /
memorandum or bill of such sale. to which /
he stamp shall be affixed. and every bill t
" memorandum of sale before mentioned /
shall show the date thereof, the name /
II the seller. the amount of the sale and
he matter or thing to which 1t refers.
ANY person or persons violating or
seeking to evade this provision shall upon
be fined not less than $500 nor
more than $1,000 or be imprisoned not more
han, six months, or both"
Upon each sale. contract, agreement or
'ther evidence of sale Of any products
IT merchandise at any exchange, or board
If trade whether for present or future
delivery, for each one hundred dollars In
7alue Of sale one cent, and for each adj
iitional 500 or fractional part thereof in
Excess o fone hundred dollars. one cent.
provso is added, requiring stamps to
he necessary amount to be fixed 10 the
ill, memorandum or other evidence OF
ale. The penalty is the same as the
previous proviso.
The house exemption Of hank checks I'M
Ter $50 is stricken out, leaving all checks.
Traits. etc. subject TO the stamp Of two
ents.
The rate on domestic bills of exchange
4 less than 500 is reduced 70 two cents.
nd two cents is added TO this rate for
ach additional 500. This provision is
made applicable to postofice money or
ers. The rate OF foreign bills of exchange
5 made double the rate levied on domestic
xchange
A uniform rate Of one cent is required on
n bills Of lading manlfests. receipts. etc.
or packa ges issued BY railroad. steam
oats, express companies. etc. A tax Of
ne cent IS also imposed upon copversa-
ions over telephone lines where the
barge exceeds Is cents.
The rate on jndemnifying bonds IS in
reased from = 20 50 cents. The provision
or taxing deeds Of conveyance is changed
o as TO make the rate 81 cents where the
Is below 500 and adding 20
ents FOR each additional $500
A uniform rate Of one cent Is made On
Geographic dispatches. the official dis
atches Of telegraph and railroad eompan-
es and official government dispatches
icing The only exemptions.
The rate on ordinary life insurance poll
les is Increased from cents on the 500
o 10 cents. on fre Insurance companies
he rate Is fixed ar one half OF one cent
n each dollar OF the premium and the
ame rate : made on the premiums of
usually. fidelity and guarantee compan-
Is
The tax on mortgages Of less than 81 $40