The news & observer., 1901-03-14


roughs, Currie Foushee, Glenn, Hen
derson, James, Long, Morton, Speight
Vann, Warren.
Those voting in the negative: Messsrs
Arlington Aycock, Bray, Brown, Buch-
anan, Gambler, Crisp, Dula, Gudger,
Leak, Lindsay, London, Marshall, Nc
Allister, Mcintosh, Mcneil, Michael,
Miller, of Caldwell Miller, of Pamlico,
Morrison, Pinnix, Robson, Scott,
Smith, Stikeleather, Sugg, Thomas,
Travis, Ward. Webb, Woodard.
The bill was then defeated.
THE REVENUE BILL.
The Senate went into committee of
the whole on the revenue bill at 1915
yesterday, Senator Glenn in the chair.
Section 81, imposing a license tax of
two per centum on purchases in addi-
tion to the ad valorem tax, on his stock.
Adopted.
On Emigrant agents (section So. a
tax of $25. Senator Leak sent an
amendment making the tax $50 for each
county. This was carried and the Sec
| tion was adopted.
OPTICIANS AND OCULISTS.
Section SO, placing an annual license
tax of $25 for each county on itinerant
oculists or opticians. Senator Morrison
moved to strike out 'oculist" Senator
Webb thought that would kill the sec
ton. Senator Mcintosh moved to sub
stitute $50 for S25. Lost. Mr.. Alexander
said that these travelling oculists were
expert physicians, and ought to be en-
couraged to go to places. Senator Lon
don agreed that this was like taxing
| a physician for practicing in another
county The amendment was lost and
the section adopted.
TAX ON TRADE STAMPS.
Section go taxing sellers to merchants
or manufacturers of trading stamps or
| devices to be redeepled. $50 annually
for each county Senator Henderson
said that these stamps were in the ma
ture of rebate to customers and were
used by merchants. He thought they
should be taxed so as to raise more
revenue and not prohibit, so he pro-
posed a graduated tax of from $40 to
$50 according to the size of the town.
| This was lost
Senator Aycock said that this section
was approved by the merchants, for
these stamping concerns would only
sell to a firm or merchant in one bust
/ Il
monopoly. Senator London sent an
amendment to-wit: Upon every per-
son, firm or corporation who uses
This was adopted. Senator Gudger be-
lieved the stamps a good thing. Senator
Webb's amendment making the tax SO
prevailed, and the section was adopted
CORPORATION TAXES.
Schedule G was taken up and sections
7 q o Gl-cs
braced nthis schedule" privilege tax
on railroads" and rate of taxation" Z"
were adopted without debate.
Section a. taxes express companies,
telegraph and telephone companies 2
per centum on gross receipts. Adopted
Section 95, imposing a license tax on
corporations of less than $4,000 capital,
So; of between $25, 900 and 100000 capital
$40: between $50 900 and 100000 capital,
$25; between 800 900 and $250,000 capital.
$50; between $250,000 and $500, 900 capt.
tai. 500; between $500 600 and 81 00O, 900
capital, $780, and over 81 ,OOO 600, $500. A
failure to pay this for three years for
feits the charter Senator Morrison
moved to strike out When the capital
stock of any land company or corpora
tion shall not amount in actual value
to more than $4,000, the tax imposed
by this section shall be $25, and no
more" Senator Justice and others
thought that this conflicted with the
other parts of the schedule. This was
lost Senator Foushee wanted foreign
corporations included and this was
done by adding the word, "or doing
business in this State" Senator Morton
did not think that this State could tax
the capital stock of corporations or
ganized in other States. hey ought to be
only taxed on the amount of business
done in the State. Senator Henderson
said that this only applied to corpora
tions having principal office in the
State. Senator Fcushee added to the
section, provided that the tax shall
be paid in the county where the same
hame their principal office" Both OF
these prevailed, and the section was
adopted
Sections 81. 9S, 80, 100. 1O1, 102 and
1n2 on marriage licenses" tax on seal
affixed by officers" licenses to be
countersigned, "State Treasurer to sue
for taxes" last U. S. census shall de-
termine population" fines for benefit
of school funds" 'misappropriation of
taxes deemed embezzlement," subjects
of taxation" respectively, were adopt
ed.
Senator Morrison had 'any expense
incurred to be charged to the sheriff
if it is ascertained TO be his fault, in
section 104, Auditor shall reject incom-
plete returns"
Sections los, duty of sheriff in case
of violations of the provisions Of this
act" LOG, unless prohibited county may
levy some license tax as State, 1O7
penalty for not securing license" 1OS,
license for each location" 109, ZAP
preparation fo Auditor and Treasurer"
were all adopted
TAXATION ON BANKS.
The committee then went back and
began taking up the sections that had
been deferred The first of these was
section 4. on bank taxation. The cashier
pays the tax to the State Treasurer.
The commissioners of the county,
where the bank is located, assesses the
value of shares of resident share-hold-
ers, and the cashier pays the tax on
shares held by non-residents. The
bank lists it's real estate where the
same is situated. The bank lists with
the State Auditor in the name of it's
shareholders all the shares at its mar