The age-herald., 1898-05-13

sor> corporation engaged in the buslness of banking shall pay a special excise tax, | which shall be equal to one forty-eighth of | one per centum each month upon the aver l age amount of the deposits of money sub | ject to payment by check or draft, repre- sented by certificate or deposit or other | wise. whether payable on demand or at 1 some future day. l Persons affected by these provisions are required to make, monthly returns. ESvaslons l of payment for ten days are punished by | the addition of per cent and for attempts | at knowing evasion a penalty of $l,0Oo IS l provided.
 r. sse The Amendments
 Taking up the bill at the beginning the l more important amendments are: Stored beer. ale, etc.. are exempted from the oper- | at'ons of the act; the amount of the beer l tax is increased from to 71s per cent for
 the house provision for stamps on beer' l etc, a senate one is established. n,l ... A license is imposed on bankers,=ete. as r follows: On bankers employing scapital | of $50 900 or less Sf00 for each license, ana " | for each additional $1 900 for capital, saw | ings banks being exempted; brokers, so0; pawn brokers, s20; commercial brokers, Szo; custom house brokers, $10; foreign insur- ance agents. $5O;- proprietors of theaters, museums, concert halls, circuses, $lO0 each; other public exhibitions $10; bowling alleys
  There are a great many changes Tn the tobacco schedule.f The tax on manufactur-F ed tobacco, snuff. etc., is increased rom z to IS cents per pound. The tax on cigars weighing more than three pounds per thousand is reduced from s4 to. $3.5O per thousand. The house provision taxing 1o- bacco on hand is stricken out. There IS a reduction of the tax of tobacco deaiers manufacturers. etc., whose annual sales sah |, below s5 900 to s6 from the house sIate. ..1,. and fahanN0 ne60leIS4 exempted. There are also similar redhce tions on the licenses of cigar manufac- turers.
 Adhesive Stamps The penalty for a violation of section 1, relating to the adhesive stamps, IS ln- creased so as to make the offense mlsue- meanor, punishable by fine or SoVu or Imprisonment for year. or both. Failufe to cancel stamps is also made misde- meanor. punishable by a fine of $50 or by imprisonment for six months. I The paragraph authorizing private oies Is stricken out Imprisonment IS also adopted as one of the penalties for issuing or accepting unstamped documents. lnoeea this addition is made to almost all the sec tions of the bills
 The provision exempting building. and loan associations was amended so as 10 read as follows: The stock and bonds lssueo by co-operat tive building and loan assocla- tions, whose capital stock does not exceed SfO, 900 and associations which make loans only to their members, shall be exempt run the tax. herein provided for.
 Telegraph Messages
 The provision In section IT, relating 10 telegraph messages, which In the house bin exempted free aad press messagesf IS am<nded so as to include these by making tlI provision apply to all messages The penalty for making, selling or removing for consumption or sale, drugs, medicines, preparations, etc., contrary to the proFis- ions of schedule without afiixing stamp is increased from fine of $1OO to me or $500 or Imprisonment for six. months. he penalties for all violations Of such rules are made very strict. a The bill is also, amended to provide Tor tax on prescriptions. .
 The commissioner of internal revenue given authority to procure stamps rom private persons until January l, lSys, when F they cannot be- supplied by the oureau o' printing and engraving. .. rlE,.
 The changes made dn schedule A, reiat- ing to stamp taxes, indicate that the coi mittee devoted very careful attention to IL, and as a consequence almost every hiie is changed. ...- 4 -io i,.s.. .,.,.5u.,,aa- ule the following Is inserted as a. proViso'
 In Case of Transfer
 s1Tbaf in case or Sdlt WltSaS ehAS " of transfer is shown only by the DOCKS oi the company the stamp shall De piaceo unon such books; and where the chanse of oxs,nersf,ips is by transfer certificate the stamp shall be placed upon the certinca'e and in cases where the transfer IS py ue livery of the certificate signed in plank theio shall be made and delivered by the seller to the buyer a bill or memorandum of such sale. to which the stamp shall be a1nxeo and every bill or memorandum Of sale shaii show the date thereof, the name Of the seller, the amount of the sale and the mat ter orthing to which 1t refers
 Any person or persons violating or seek inp t, eyade this provision shall, upon con- yiction be fined not less than $500 nor more than s1 GOO or be imprisoned not more than six months. or both.
 "Upen each sale a contract, agreement or other evidence of a sale of any products or merchandise at any exchange or board of trade, either for present or future de- livery for each one hundred dollars in value of said sale cent, and for each additional one hundred dollars or fractional part thereof in excess of one hundred dollars 1 cent"
 A proyise is added requiring stamps. to the necessary amount be affixed to the bill memorandum or other evidence of sale The penalty is the same as the previous proviso. sss's9
 Exemption of Checks Stricken Out
 The house exemption of bank checks un- der $20 is stricken out. leaving all checks drafts, etc., subject to the stamp of two cents. > ,. sa e7s~ -asss@
 The rate of domestic bills of exchange of less than s100 Is reduced to two cents and two cents is added to this rate for such additional $100. This provision is made ap- plicable to postoffice money orders The rate on foreign bills of exchange Is made double the rate levied on domestic ex- change A uniform rate of one cent. Is re- Quired on bills of lading, manifests, re- ceipts. etc. for packages issued by railroad steamboat, express companies, etc. A tax of one cent is also imposed upon conver- sations over telephone lines where the charge exceeded b cents.
 The rate on indemnifying bonds is in- creased from 25 to 50 cents. The provision for taxing deeds. of conveyance Is changed 30 as to make the rate 50 cents where the consideration is below $500, and adding 50 cents for each additional $500.
 Rate of One Cent LTsr