The times. [volume] (Richmond, Va.) 1890-1903, 1901-03-01
THE REDUCTION BILL.
Provisions OF The Measure as Finally Agreed
ILn0u
(rr Assoc1ntel Press.l


WASHINGTON, February 2S.-Ihe con-
ferees of the Senate and House upon
the war-revenue reduction blli to-day
announced the result OF their deilpeTa-
tons upon that measure. As ALREADY
stated, the report OF the committee SHOWS
a compromise all along the lines OF the
bill, the changes III the present law beng
as follows:
Tobacco-20 per cent. discount OF the
original tax, OF u cents per pound, as
against % per cent. reduction as liked
by the Senate and none Us the Dill passed
the House The rate agreed upon Will
make the tax $3.50 per 100 pounds, as
stated in these dispatches yesterday.
Cisars.-On those weighing more than
three pounds per 900 the House rate,
of s. per loo, was retained, as against
$3.50 as fixed by the Senate and $3.50 as in
the present law. On those weighing less
ti1nn three POUNDS per 1000 the Senate
rate, OF IS cents per pound, was allowed
to stand, as against the rate of 81 per
1000 as fixed by the existing law, which
was not disturbed by the House.
On CIGARETTES
Cigarettcs.--On those weighing not more
than three pounds per 1905, the Senate's
action. fixing the rate at IS cents per
pound, prevailed.
Bankers apitai-Present law retained,
the Senate receding from its amendment.
Commercial brokers taX-Repealed in
accordance with original action OF both
Houses.
Certificates of stock transfers-The rate
Of cents for each 800 is retained, and
the Senate amendment, making the law
include the transactions Of bucket shops,
was accepted by the House conferees.
Sales of produces at eNchanSes.-The
Senate amendment, eNempting sales OF
ms bA ,Ii in of
portation was accepted, but the rate of
one cent for each 500. as fixed by the
present law, was retained, the Senate
amendment making the rate 81 being
disagreed to.
CHECK STAMPS.
Bank checks-Repealed in accordance
with the House action.
Certificates of deposit-TaN repealed.
Promissory notes-TaX repealed.
Money orders--TaN repealed.
Bills Of exchange, foreign.-Thc rate
fixed at cents for each 500, in accord
ance with the Senate amendment.
Bills of ladng for eXpcrt-Repealed.
Express receipts--Repealed.
Telephone messages-Repealed.
miscellaneous bonds tax-Repealed, ex--
ccpt upon bonds Of indemnity.
Certificates of damage and certificates
not otherwise specifled-Repcaled.
Conveyancc: Exempted below $500;
amount $3.50. twenty-five cents for each
$500, in accordance with Senate action.
Telegraph messages: tax repealed
Insurance tax repealed on all kinds of
insurance in accordance with the action
of the House. the Senate conferrees reced-
ing on all Senate amendments
TAN ON LEASES.
Leases: tax repealed.
NanifeStS: tax repealed.
Mortgages: tax repealed.
Steamship passage tickets: exempted be-
low $50 in value and the rate fixed at 90
cents for each so in cost for that price
and over.
Power Of attorney: tax repealed.
Protest: tax repealed.
Warehouse receipts: tax repealed.
Proprietary medicines: tax repealed, in
accordance with House action, the Sen
ate being disagreed to.
Perfumery and cosmetics: tax repealed.
Chewing gum: tax repealed.
Legacies: law modified so as to exclude
from taxation legacies Of charitable, re-
liglous. literary or educational character
The total reduction OF the revenues as
made by the bill as agreed upon. will
amount to about sfiO0O,o00 as against
reduction of s40,O00,o00 as it passed the
House and $45O00,o00 as amended in the
Senate.
The provisions of the bill as agreed upon
will take effect on the LIST of next July.
REDUCTION ESTIMATES.
The following are detailed estimates OF
reductions made by Representative
Payne. of the House conferrees;
Commercial brokers. Sl3S.oOo; cerull-
Gates Of DEPOSITS. $500 900: pro M: CRY
port. 100000; telegraph dispatches. $500
GOO telephone messages SS1 6oah
nor otherwise specified. $500, 0G0: charter
p bar 100000: conseyances. s1:55o0 0oo
insurance. $4,000. 600: leases. s.U1 1.at
morris ges $500. coo: passage tickets'
500, 900: power of attorney. 500: 600; pro
tests. $4,000: warehoHsseo o rscepts
medicines. cosmetics and chewing Gum
$3.50. 900: legacies $500; 900: cigars IS Sd
900: tobacco. coo; small sn cf s,t Gdi
bank Checks. 81 600 900: foreign bills oo or
exchange. $4,000: money orders G S5o-'oo"'
manifest for custom-nouse. eo''ooo'