The herald., 1898-05-13

not apply to any corporation that II sub
jectsd to excise tax under section - OF
this act, nor religious, educational, benev-
olent, eleemosynary or cemetery corpora
tions, municipal or other public corpora
tons. fraternal beneficiary societies or or
ders or associations operating upon the
lodge system and providing for the pay
ment of life, sick, accident and other bene-
tions or dependents of such associations. or
building and loan associations which make
loans only to their shareholders; nor shall
corporations which shall buy or sell raw
or manufactured agricultural products be
required to pay tax with respect to such
dealings, except as otherwise provided in
this act
Another paragraph in this portion Of the
bill imposes an excise tax on banks, and Is
as follows:
Every person, bank, association, COM
pany or corporation engaged in the busi-
ness of banking shall pay a special tax,
which shall be equal to one-fourth Of PEI
cent each month upon the average depos-
its of money subject to payment by check
or draft, represented by certificate of de-
post or otherwise. whether payable on de-
mand or at some future day."
Persons affected by these provisions are
required to make monthly returns.
Evasions of payment for ten days are
punished by the addition of 10 per cent and
for attempts at knowing evasions a PEN
atty of $1,000 is provided.
Taking UP the bill at the beginning mora
important amendments are as follows:
Stored beer. ale, etc.. are exempted from
the operations of the act; the discount on
the beer tax Is decreased from to az per
cent; for the house provision for stamps on
beer, etc., a simpler one Is substituted.
A license Is imposed on bankers, etc., as
follows:
On bankers employing capital Of $50 900
or less, 800 for each license and 81 for each
additional $4,000 of capital, savings banks
being exempted; brokers, $50; pawnbrok-
ers, $40; commercial brokers, $40; custom
house brokers, SO; foreign insurance
agents, $50; proprietors of theaters. mu-
seums, concert halls, circuses. 500 each:
other public exhibitions, SO; bowling al
leys and billiard rooms, IS per table.
There are a great many changes in the
TOBACCO schedule. The tax on manufac-
tured tobacco snuf, etc., is increased from
Il to 16 cents per pound; the tax on cigars
Weighing more than three pounds per 1OOt
is reduced from 81 to $3.50 per 1000; on small
cigars from 81 to 81; on cigarettes from s:
to $3.50 per 1000.
The house provision taxing tobacco on
hand is stricken out. There is a reduction
of the tax on tobacco dealers, manufac-
turers, ETC., whose annual sales fall below
$4,000 to Sc from the house rate, which was
$40, and tobacco peddlers are exempted frDnl
the operations of the act. There are SIM
liar reductions on the licenses Of cigar
manufacturers.
The penalty for a violation of section 4.
relative to adhesive stamps, is increased
so as to make the offense misdemeanoy
punishable by fine Of $500 or imprisonment
for a year, or both. Imprisonment is also
added as one of the penalties for issuing or
accepting unstamped documents. Indeed
this addition is made to almost all the pro-
visions for violating any portion of the bill
The provision in section II, relative to
Geographic messages, which in the house
bill exempted free and press messages, is
amended so as to include these by making
the provision apply to all messages.
The schedule relating to drugs and medi-
cines is SO amended as to provide for tax
on prescriptions.
The changes made in schedule A, relating
to stamp taxes, indicate that the committee
devoted very careful attention to 1t, and. as
a consequence, almost every line is changed
After the first paragraph Of this schedule
the following is inserted as a provision:
"That in case of sale. where the evidence
of transfer is shown only by the books oil
the company, the stamp shall be placed up.
on such books, and where the change Of
ownership is by transfer certificate, the
stamp shall be placed upon the certificate;
and in cases where the transfer is by deliv-
cry or certificate assigned in blank, there
shall be made and delivered by the seller to
the buyer a memorandum or bill of such
sale, to which the stamp shall be affixed
and every bill or memorandum Of sale be
fore mentioned shall show the date thereof,
the name of the seller, the amount Of the
sale and the matter or thing to which 1t re-
fers."
Any person or persons violating or seek
ing to evade this provision shall be, upon
conviction, fined not less than $500 or more
than $1,000. or be imprisoned not more than
six months, or both.