The times. [volume] (Richmond, Va.) 1890-1903, 1898-08-21

power OF NllNIIF.s
EXPRESS RECEIPTS.
The shipment ~ bundles or packages
n newspapers inclosed in one general
bundle under q single bill OF lading Is
nermifted. and there Will be no oblec-
lion 10 the distribution OF the contents
Of such a general bundle at the differ
ont stations along the line OF the rail-
road.
shinment bears but ono tax, al
,bourb in completing 10 transit by rail.
boat or other method OF Conveyance -
Tie stamp should be affixed 70 the
c--i7enco Of receipt and forwarding for
each shipment whether tho evidence
A. I'm the form Of o bin OF lafing. mani
fest receipt. or book, and tho common
carrier ls compelled by law 10 issue this
evidence Of receipt ana 10Y 'i. @..l '''i's'
INSURANCE POLICIES.
A nolicv OF insurance i5 not valid un-
less Il bears the proper Cancelled re-
venue stamp.
A stamp s. required upon every rs
! sieumcut Of a policy o. insurance az the
same rate as that on tho original IN
slrument
Neither tho so-called MORTGAGE clause
| attached 10 policy nor Cos canccHauoH
or release requires additional stamp.
| Where Vllcy Of lie insurance u ass
e,rnod as collateral security for loan,
| a. should De- stamped as pledge ac-
cording to the amount Of DEBT secured
and not according 20 face OF poney.
| Concerning the payment ~ internal
revenue tax on premiums charbeh ON
marine. inland. or fire Insurance under
Opcn policies. SEQ Internal revenue 0--
cular No. COS.
Reinsurance Of insurance policy IN
other companies IS not taxable u OH
| ginal policy SIS properly stamped ana
| tho reinsurcr receives only the piop'I-
fionate premium on fits proporuonate
| liability. IT, however. he riak beeoin.s
extra hazardous and there ST. ielnaui-
ance effected, the extra premium pAiu
| is taxable.
Where leases are executed in duph-
cate. so that both are originals, botn
are required 20 be stamped, but f theIo
| be but ono original copies Thereon arc
not required to DO stamped
This ofico holds that where rec-ipt
! as given for money received as rent JOE
/ certain premises and for "a ccrtnin term.
| and there arc mo other recitaia in tle
/ receipt Sc does not require stamp.
/ the receipt contains any phrase or clause
/ that can De construed as contract i9f
/ the hire. use. or rent as Aforesaid. ln
/ such cases tho receipt becomes some
| thing more than o. bare receipt, and
| should Dc stamped according 20 Jus TENOR
( and effect. 4 mere reference in i'nl
! receipt 10 an existing lease. only exc
| cutod. viii not be- construed as q new
| lease
Where a note Or notes with detached
! fnterest-c0upon notes arc given, edch
| coupon note requires stamp in olol-
! ton 20 tho stamp placed CA tho primer
Interest coupons attached 20 bonds and
! surrendered as receipts for interest pald
| do not require a stamp.
! no stamp g. required upon the trans
| fer by Endorsement OF promisaory notes.
| Where notes secured by deed of trust
| are used az collateral. the deed OF trust
and the notes aye required 10 oe stamp
! ed not ON the basis OF their face value.
/ but on the amount for which they are
| pledged 0hat IS 20 say tho mem'iin-
| dunn OF their pledge must DE s9 st.hl.
| od). This pledge OF notes ana de-A or
| trust does not require 10 Do stamp
/ again because Ok renewals o. ihs NOES
| hold as collateral if tho pledge l-set Us
| not renewed.
| Prouissorv notes which have mat1red
| and havo been allowed 90 run without
| suit arc held not 90 ho renewed hy me
! pavment of interest This B. looked fpon
| as q "f0rbearance" and not renewal
| The holder not leAAl Aiai-ilf l.-' A-a'|
| Of action for any stated perioa.
| Where judgment hoIts' 20 ,'-l'.1.
I tain clause autnoii1l"s any
at-iaw 20 confess Jo.si". nl 'i ~.
the holder OF the note such arihorz2-
ton is held 20 be o. power oi -l.''il ~,
! and taxable as sueh lh auol-lo" ~ '.'o
| tax required on the Judgment No'1 "7
! q promiss0ry note.
powers or attorney eN1,u,' 800.
| ana USED ln TINS country I'i"l1
Powers OF attorney ""u P'D~
| The purpose OF Nouus u' tf',.
| building ana loail "s'oD' ,.Dl' 49,
make loans only 10 t.,I o''i 49, -
! arc icpui,u ~ ~ ..,..--,l,. ~. 49,. "a
upon one power or attorney or pl.Ny ',,.. q
! huinDer OF ali"i -i''1.i l~'' '' ll.
! ing ce'''ih peir'. ~ '0'0 ''''" -''~''
! one stamp Is sAiiieleHI
RECEIPTS
| pcoci,te .ivon h, safe dcnosit COM
rs0v An RENTING bcves in the comuanv's
/ vauif are not subject TO tax. nor are
receipts given by such companies mere
| d, f6r Tia safo-t.cninr of money and
! ,.ot,,si1or
! pcrri,ts ..fvor h,, tnc rafrore OF most
| oGlce for Box rent are not taxable.
| SALES on TRANSFERS or STOCK
| In reckoning the stamp tax on trans
| FER OF certificates OF stock, tho tax IS
\ reclloncd on tho face value. ln reckon
| inc This tax. the fact that only part Of
| the face value OF shares subscribed fot
! ana issued has bean paid by the share
! Ioidere be- moi TO bo taken into cousid-
| Grafton
/