The Butler weekly times. (Butler, Mo.) 1881-1918, 1898-08-04
REVENUE POINTS DECIDED.
The Commissioner Makes I'M
portant Rulings Bearing
on the Stamp Tax.

uouncel the following decisions IN
der the new revenue Law:
In regard t. mortgages, there IS
no difference in the rate Of taxation
between that u chattle mortgages
and d mortgage Gu realty. Upon
mortgage or pledge Of real estate or
personal property for a sum exceed
ing ST. and not exceeding Sl,5 500
a stamp of % cents is required, and
on each $500, or fractional part
thereof, in excess OF 81, 500, % cents.
Each andsevery assignment or tranE.
fer of the mortgage or the renewal
or continuance of any agreement of
contract by letter or otherwise. re
quires stamp tax at the same rate
as that imposed on the original in
strument. A mortgage for less
amount than $1,000 does not re
quirs a stamp.
Certificates of acknowledge ment
to deeds, mortgages or other legal
instruments require to be stamped
with ten cent stamp as certitl-
cate IN addition to the stamp pro-
vided by law for the instrument it
self. They are no part of the exc
cution of the deed or mortgage, and
are not covered by the stamp requir-
ed upon such deed or mortgage.
The memorandum on the back of a
deed or mortgage made by regis
ter or recorder, that the instru-
ment has been placed upon record,
is not subject to taxation. A deed
for property, the actual value of
which is less than $1,000, does not
require stamp.
Promissory notes, except bank
notea for circulation, for a sum not
exceeding 500. require stamp of
two cents and for each additional
500 or fractional part thereof in ex
cess of 500, two cents. No stamp
is required upon the transfer by as
Segment of promissory note.
Receipts setting forth the terms
of lease are required to be stamp
ed as lease. unless separate lease
has been made which has been duly
stamped.
A receipt issued by savings
bank, such as contains no words
constituting an order for the pay
ment Of moneys, does not require
two cent stamp.
Persons engaged in buying and
selling for themselves are liable as
brokers for the special tax $50.
Checks of officers of county or
municipal corporation, drawn in
their official capacity. 10 discharge
OF duties imposed by law, are ex
empt from taxation Official checks
of postmasters Of like character,
drawn in discharge OF duties impos-
ed by law, are not taxable.
In estimating the special tax of
banks upon capital and surplus, the
amount invested in United States
bonds is not to be deducted. Of
fetal checks of disbursing officers of
the Indian service, drawn by them
against the public funds in discharge
of thoir duties imposed by law are
exempt.
Where long time notes, dated pre-
vious to July l, 1898, are secured by
a deed of trust as collateral on com
merclal paper, the deed of trust and
the notes are required to be stamp
ed, not on the basis of their face
value, but on the amount of which
they are pledged; that is to say, the
memorandum of their pledge must
be so stamped. This pledge Of
notes and deeds OF trusts, remaining
the same as at the beginning, does
not require u be stamped again be.
cause of the successive renewals Of
the notes for which they are held as
collateral.
Bonds Of municipal officers are re-
quired TO be stamped.
Three Months of War Aud The Work
Done.
Washington, July 24.-Nith the
week just closed, the United States
san ia Al -s -. Ill - e