The herald., 1898-07-15
Clubs Must Stamp Wine Bottles

The question was raised whether clubs
buying wine in bulk and bottling the same
for their own use would be required to put
stamps on the bottles. Chief Deputy Col
lector David 8. Wendell Of the Second inter-
nal revenue district in this city, says the
New York Times, said that II any club sold,
bottled wines to its members, the club would
be liable under the law for stamp tax on
each bottle. "The law is very explicit on
that point" said Mr.. Wendell. at says:
Sparkling or other wines, when bottled for
sale, upon each bottle containing one pint
or less l cent. Upon each bottle containing
more than one pint cents If club should
give the bottled wine away, there would
be no tax liability, but so long as It is bot
tied for sale, the fact that it is in the hands
of club makes no difference, in my opin-
ion, in the operation of the law"
Many inquiries have been made at the in
ternal revenue offices regarding the stamp
ing Of samples. Collector Treat has in
formed all persons who have asked this
question at his office that all sample pack
ages and bottles must be stamped.
But suppose we do not know the value
of a sampler" asked a manufacturer Of a
proprietary article yesterday.
''If II is your own product you certainly
ought to know how much 1t Is worth to
you." responded the collector.
"These samples are sent out free; we get
nothing for them" said the manufacturer.
''Then take as a basis the price that you
would ask for the same quantity and quail
ity Of goods IL you offered 1t for SALE" sug-
gested the collector. "One-eighth of per
cent Is the smallest stamp that you can put
on anything. That stamp covers an article
that sells for s cents or less. If your sample
Is worth more than cents you must use
quarter of cent stamp"
Building and Loan
II will be noticed. says the New York
Post, that several prominent cooperative
building and loan associations have re-
duced their seml-annual dividends " and "
per cent. This was expected by those who
are In touch with the building and loan
movement in this neighborhood, as the as
sociations generally have not been able to
lend their money as readily as in former
years. There are many associations which
do not issue semi-annual statements, but 1t
Is known that very few in the metropolitan
district can show net earnings of more than
~ or per cent during the last six months.
The prospects for the present half year.
. however, are much brighter than they WERE
and the officers of the association believe
that profits will be up to the average here
after.
About one year ago, says the same author
ity, an association in this district had many
thousa nd dollars In the bank no borrowers,
and considerable foreclosed real estate,
which threatened to be increased as time
went on. The association was In a moribund
condition, and the board Of management Sc
riously contemplated issuing circular to
its members stopping dues, preparatory to
winding up its affairs. There was question
as to its ability to pay every dollar of in
debtedness, however; It had simply arrived
at stage when new Blood was needed IN
the board. It was finally decided to begin
at the fountain head, and new secretary
was elected. This officer gave his whole
time to the work Of building up the associa-
ton. with the result that at present more
than one-third Of the real estate acquired
BY foreclosure has been resold, the MEM
bership largely increased and the bank bal
.Ance ID in the hands of the home sctters.
The borrowers, also, are active, due to
premiums being at a reasonable point.
Insurance Taxes