The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-06-11

payment Of the internal revenue tax on
fermented liquors, tobacco. snuff. ci-
gars and cigarettes may be imprinted
with q suitable device to denote the
new rate of tax and shall be afixed
to all packages containing such articles
on which the tax imposed by this act
Is paid.
Adhesive Stamps.
Section 7 provides that If any person
or persons shall make, sign or issue
any instrument or paper of any descrip-
ton without its being stamped he shall
be guilty of misdemeanor. the penalty
being 800, at the discretion Of the
court.
Section 8 provides penalty of a fine
not exceeding $1,000 or imprisonment
for term not exceeding five years, or
both. for counterfeiting the stamps. and
the penalty is made to apply to all
persons having any connection with the
counterfeiting.
Proprietors of proprietary articles are
given the privilege Of furnishing their
own dies or designs for stamps, fail
ure to perform which act 10 made a
misdemanor punishable by fine of not
less than $50 nor more than, $500, or by
Imprisonment of not to exceed six
months, or both.
It is also made misdemeanor by sec
tion 10 to evade the provisions of the
stamp law punishable by a fine not
exceeding 5000.
Other sections following relate to the
administration of the law. Section u
provides for the distribution of stamps.
Section Is exempts government, state,
county and municipal bonds from the
operation of the law, and also the stock
and bonds issued by cooperative
building and loan associations whose
capital stock does not exceed $4,000,
and building and loan associations or
companies that make loans only to their
shareholders.
Section IS provides for tax stamp on
telegraph messages, but exempts mes.
sages Of officers and employees of the
government on official business. and
also the messages Of telegraph and rail-
road companies over their own lines.
Section 20 makes 1t a misdeameanor
to evade the provisions Of Schedule B
relative to drugs, medicines, perfumery,
ETC., punishable by fine not to exceed
$780, or Imprisonment not to exceed six
months. or both.
Incorporated medicines, or those
put up and sold at retail. on prescrip-
tons. are not included in the taxable
articles, leaving 1t to apply particular
ly to proprietary articles.
Section "a adds the tax on proprietary
articles to the duty on them, requiring
the affixing of the internal revenue
stamp before withdrawal for consump-
ton.
The commissioner Of internal revenue
is authorized to procure until Jan. /,
1899. any of the stamps provided for by
contract whenever they cannot be
speedily prepared by the bureau Of en-
craving and printing.
Schedule A--Stamp Taxes.
Bonds, debentures or certificates of
Indebtedness by any association, COM
pany or corporation on each hundred
dollars Of face value or fraction there
Of, cents, or on each original issue,
whether on organization or certificates
of stock by any such association, COM
pany or corporation on each 800 of face
value or fraction thereof, cents; and
on all sales or agreements to sell or
memorandum of sales, or deliveries or
transfers Of shares or certificates Of
stock, on each 500 of face value or
fraction. 2 cents. In case of sale. where
the evidence 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 certificate, the stamp shall be
placed upon the certificate; and in cases
of an agreement to sell, or where the
transfer is by delivery of the certih-
cate assigned in blank, there shall be
made and delivered by the seller to the
buyer a bill or memorandum of such
sale, to which the stamp shall be af-
fixed. Penalty. a fine of from $500 to
$1,000, and Imprisonment for six morJths
or both.
Boards of Trade Taxes.
Upon each sale or agreement to sell
any products of merchandise at any ex-
change, board Of trade or other sim
liar place, either for present or future
delivery, for each 500 in value of said
sale or agreement Of sale or agreement
to sell, cent and for each additional
500 nnl',,a ~. ~
Vi Wv ."'. vi .'si'
s"'e y, as VI 'ae " ae
80, ~,
memorandum of such sale, to which
there shall be affixed lawful stamp or
es .hi g., :" a',ah s ra' '"' amount
D., "La,. ..as, .,so. -
80. t H. 49, $1,000. VI
1870. ~, noa 80 " ou,i
drawn uDon or issued by anv hank
trust company or any person or ner-
sons, companies or corporations.2 cents.
Bills of exchange Cnland), draft, GER
tifCate of deposit drawing interest. or
order for the payment Of any sum of
money otherwise than at sight or on
demand, or any promissory note except
lauk notes. issued for circulation. and
-.-.
for each renewal of the same for sum
not exceeding 800, 2 cents, and for each
additional 800 or fractional part there
of in excess of $780, 2 cents.
Bills of exchange (foreign) or letter
of credit, If drawn sngly for a sum not
exceeding 500, cents, and for each
500 or fractional part thereof in ex-