The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-07-11
MANY POINTS PASSED ON.
CITY AND COUNTY CHECKS NEED
NOT BEAR STAMPS.


The Opinion Gaining Ground That
the Express Companies VIII Have
10 Pay for the stamps ON Receipts
Issued to ferrous
Opinions by Commissioner Scott
That VIII BE of Interest and Value
to Business Men.
The opinion seems to be growing strong
er among business men all over the coun-
try that the courts win decide that it is
the duty of express companies to bear the
expense Of the tax on the receipts issued
by them.
The position taken by the Savannah
Board of Trade has been followed by
numerous trade organizations throughout
the country and scores of opinions from
prominent lawyers are found quoted in
the paper in different cities to the same
effect. Members of the ways and means
committee Of the House, and of the finance
| committee of the Senate, who had every
thing to do with the framing of the new
tax law, are said to be practically unani-
nous in the opinion that the law intended
that the express companies and common
carriers Should carry this expense. SEN
ator Davis, one of the best lawyers in
Congress, Is ont in a statement express
ing surprise that the express companies
should take the view that the sender of
the package must buy the stamp and af-
fix ii to the package
The express companies claim that If they
have TO bear the expense it would be
equivalent TO a tax of about per cent
on their net proceeds. the intimation is
pretty strongly made that if it is ruled
that they must pay for the stamps they
Will increase the charge to the extent
necessary to meet this additional expense
Many opinions have already been an
nounced by the internal revenue bureau
at Washington on questions arising In the
| course of trade and submitted for consider
alton. Under one of these opinions ii
VIII not be necessary for City Treasurer
Hardee or County Treasurer Russell 10
place stamps on checks issued by them.
A novel question arose from the receipt
OF a sight draft on a banking house. The
draft bore a 2-cent stamp, as required BY
law, and the firm accepted il and made It
payable at their bank, thereby practically
converting the draft into check drawn
by the fltm upon their own funds. The
question was whether or not another 2-ceut
stamp was required to be placed on the
document by the banking firm in this
city.
Ii was decided that a second stamp was
| necessary, as by making the draft paya,
/ BILE at their own bank the firm made it
exercise the functions of a check as web
as a draft.
It has also been ruled that checks drawn
on funds on deposits abroad must bear a
| Accent stamp for each 500 or fraction
thereof, the Same as bills of exchange.
/ Other decisions by Commissioner Scott
which Will be of interest and value to
/ savannah business men are as follows:
In the case of mortgage notes, where
instaiment payments of the principal and
interest are made revenue stamp will
not be required for each transaction. This
Is decision of great Importance to saw
| ing banks, insurance companies. building
! and loan associations and individuals deal
ing in real estate
Malt extract is liable to stamp tax un.
der schedule the same as other medi-
cines. The fact that the substance of the
article has already paid tax as beer does
not operate to exempt il from tax in ifs
new and medicinal FORM
Where a certificate of deposit is issued
providing for payment of interest though
with the condition IF left six months 4"
stamp tax must be paid thereon as fol-
lows Two cents for any sum not ex-
ceeding $100, and for each additional 800
or fractional parts thereof 2 cents addl-
tional
Concentrated extract of witch hazel
compound 'liquorice powder and seidlitz
powders are taxable as proprietary me,
dicinal articles
Proprietary articles taxable and in the
hands of dealers July 1. 1898, must. when
sold, be stamped according to the retail
price, and not by the reduced or cut
price.
Wharf receipts given to shipper in ex-
change for which bill of ladiug bearing
stamp is issued does not require stamp.
Stamps issued under revenue laws now
repealed cannot be used in lieu of stamps
required by the new revenue law
special stamp tax is required for each
bowling alley, pool table or billiard table.
One stamp will not be made to answer
for several tables.
Ginger ale is not liable to tax unless
specially advertised as medicine
Hop ale is liable to tax as fermented
liquor, and the vendors thereof to special
tax as malt liquor dealers.
Stamps must be affixed to premium
notes issued by insurance companies, as
well as the policies.
Subscriptions to the per cent. loan are
not taxable.
Powers of attorney for the collection of
pensions, bounty, etc, are not liable to
TAX, but other powers of attorney require
! q 25-cent stamp to he attached.
Artificial mineral waters that have been
advertised as possessing medicinal quail
ties are taxable as medicines.
No revenue stamps viii be necessary en-
The reports Of earnings and dividends end
reports of condition made TO the comp
troller of the currency by national banks,
as such reports are non-taxable.
CONVENTION THIS WEEK.