The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-12-02

Ever aimee the WAT revenue WINS huopscu an
shs stamp tax became effective there have
been constant appeals taken to the govern
suent authorities for rulings. Although =
\ x has been decided that express and telegraph
companies should supply tho necessary stamp:
on Hills OF isding and messages. these ccrpor
atlope have succeeded In evadiuE the expense
II is more than likely. however. that the com
ink session Of congress will amend the Law
80 a. to make It clear who should pay the
tax.
Aftnr congress adjourned the members told
their constituents that in voting for the STAMP
tax It was their Intention that the corpora
iol should bear the burden. So many ques-
tions have been raised that the congressman
Will be called upon to make the law plain
2 Very naturally the express and telegraph
companies will have powerful Hobbies to work
in their behalf
a decision OF interest to all has been handed
down In reference TO the placing of stamps
or bank checks BY this decision depostor
WHO draws money for his own account is no,
to be taxed. Instead OF giving check ON
the bank he simply gives them receipt for
his own money they are holding for him.
However. should lie execute check which
can be made negotiable through another
party his paper Is no longer receipt. but un-
der the law becomes check and is taxable.
Some Of the Houston banks have receipts IN
tile form of checks printed. while the others
recognize the receipt not requiring a
tax stamp. The following ruling fully ex-
plains the matter:
The Now York State Bankers Association
Tic following letter explains itself and the
decision will save much expense and trouble,
especially for country banks, whose custom
ers draw large proportion OF their funds
themselves over the bank counter:
Chorles Adsit. Esq, President New York
State Bankers Association, Hornellsyilie,
n, y.
Treasury Department. Office OF the Conn
missioner OF Internal Revenue. Washington,
D G.. November II. lsss--sir: have to
Acknowledge the recsiut Of your letter OF No
ycnlher 5. 1895. in which you request the rul-
ing of this office regarding the liability Of
dcfositors using unstamped receipts for with
drawing funds from The bank.
IN reply. You are advised that In accord
aHce with the advice of the attorney general
this office holds that receipt gwen TO
pahk by "A person 10 whom the bank is in
debteG as n depostor or otherwise. or for
whom, 1t holds funds. Is not more subject 10
stamp than a receipt given for any other
debt or demand. The purpose OF the law is
to feauire stamps upon checks, which arc
cou irerciai. negotiable Instruments check
however. is not required TO be OF amy parttcu-
lar form. If II is In form sufficient to con-
stitutc order for the payment Of money,
alp assumes the character OF commercial,
nqretiahle instrument. then II Is subject to
the tex
There Is much banking done. especially In
savings banks. without the use Of checks at
si' the deposition having book Ia which the
bank denotes the amount deposited on one
side and the amount drawn out on the other.
or course. the depositor IN such cnses draws
the money ont OF the bank. but in does II 10
such way not to be subject TO stamp
outS. because he does not give a check.
So. II person docs not give n check he
does not have TO pay the tax. and IL he goes
70 the bank and the hank pays him upon its
dues to him, and he gives receipt such re-
eepl does not REQUIRE stamp, but II no
the hands of another person to draw upon
his deposit FOR the amount of 1t. then II loses
the character of receipt and becomes n
check or draft. and Is subject TO tax Re-
sIectfnlly yours,
N. b. Scott, Commissioner.
Snr,Iincs Are strong.
sardines are reported in strong position,
with prices tending upward and business ON
an uncertain basis. The total pnck Ia est,-
mattel at about 100000 cases. which. despite
previous reports of shortage. is fully MI aver
aga output. There Is considerable criticism
q quality. however. and 80 scarce Is the hes.
ina; prices arc liahle TO 80 up at any time,
Much picking was done this year. and the
stuff thus thrown on tho market goes out at
buyers figures. The season is practically
December l. but there are s, few fish obanpbie
after the middle Of November.
Trade Notes.
The volume OF business In Texas jobbinA
circles for November was far below tbs ave.
rage In fact, business was brjskcr In August
than last month.
little spent In some lines Country orders are
better than those IN the city.
Tho position of sugar is one OF uncertainty
ana since the guarantees have been With
purchases.
Meats. were fraction higher mt primary
po:nta, but spots remain unchanged
Tho next fortnight should see a marked Inn
bs In demand.
Produce IL duh. Poultry Is selling slowly
dssptte tho fact that It Is cheap.
Tterc n = moderate movement In feed
eeylis. but orders are Of a hand to mouth
rspiis are firm as % price. but are moving
The receipts Of coffee At Rio and santos 10
iS HsSSe 1sss y ..s s:ssi;ooo bags which q
smsller than for the same time In 1896
1aitimns mall Rdyices report very email
e.cPly q caniisd pineappie ana al NJ UPWARD
su%;ss e lSs mArkst under increased cons
Rsesi sssiy ' ssr ; e. The market but
e a<s!ss' Thonpson : O. hsyiSt r sssa'ss
eUsrox waol.psALn PRIcEs.
48o11tapns tsr Rerna Lott 81 sta Ne
X 81 C40n1od lt1es. Il s7 81 ''''s
42o8eQqq9 aE9 rcylnpd daily, ana their