New-York tribune., 1901-02-01


Finance to-day reported number OF amendments
70 the War Revenue Reduction bill. The following
Is section.
STOCK TRANSACTIONS
That from and after the passage of this act every
who which shall in his its or their own behalf
transactions respecting the purchase or sale.
nmanufacGre stocE be5ds oE oybeP securitie e
wherein both parties thereto. or such person asso,
contemplate or intend that such contracts. agree
closed adjusted or settled accordingly or with
reference to the public market quotations Of prices
made on any board Of trade exchange upon
which the commodities or securities referred TO IN
@ ata Gontracts agreements trades or transaet9ns
on such board OF trade exchange wherein
nership corporation above named shall contem-
pIate or intend that such contracts. agreements.
closed or terminated when the public market quo
excRanee % maze on such board OF trade or or
sS conLracts agreements, trades or transactions
CATION, copartnership and corporation who or
conSnct 1afn shall in his or its own behalf agent
ssR9p si6p snail pay stamp tax Of one cent on each
tended be covered. and also tax Of two cents
on on eaen SCo on the face value OF all stocks. bonds
ered by each and all of such contracts agreements
,,dd Provided however that the payment Of any tax
nnpossu oy TINS section shall not be held
- soIued 70 exempt any such person association.
copartnership or corporation from any penalty or
punishment provided by the laws OF any State for
carrying on such business or the making of such
contracts agreements. trades transactions with
commencement or continuance Of such business or
the making OF any such contracts. agreements.
State, or in any place prohibited by municipal law
nor shau the payment OF any such tax he held To
prohibit any State from placing a duty or tax OIL
the same trade or business for State other pur-
Rership corporation as aforesaid shall pay an
annual special OF $50. and for each branch
in addition Of $50. which said shall he paid
Wlthln thlrty DAYS after the passage OF this act
oy every person. association. copartnership or cor
poration now engaged in such business. and from
person; association, copartnership or corpora ton
proposing 70 engage in the business aforesaid be
fore commencing such business
Provision Is made compelling all persons or asso-
Citations doing business under this section 70 file
notice under oath with collector giving the
of persons or members and officers Of the corpora
iion. their residence and Place where the business
IS carried on. Books must be kept by such firms
showing all transactions subject to inspection by
collectors, Penalties are provided making it mis-
demeanor II any OF the provisions OF the is not
carried out fines OF 500 10 s0O0 and imprisonment
OF three months 10 two years being the penalty.
A rebate provision relating 10 tobacco IS added
follows:
S6uff and cirs I9 M b nan @ ~ rooaGCp @ .I ana
ers AZ The time s,cb diS6I, s u m , Sn1 aeai &
shall go into effect upon which the tax has been
OF the fun amount OF such discount or reduction or
tax, but the same shall apply in any case
where the claim has not been presented within
sixty days following the date Of the reduction and
such rebate to manufacturers may be paid IN
allowed or drawback paid for less amount than
80 i shall be the duty of the Commissioner Of
Internal Revenue. with the approval Of the Sec
retaTy o. the Treasury. adopt such rules and
regulations and 70 prescribe and furnish such
blanks and forms as may be necessary 70 carry
this section into effect
A section is added as follows:
That and after the passage Of this act the
rfTAAe rfrR
a competent person whose special duty II shall be
10 conduct such Investigations may be necessary
10 secure the efficient enforcement OF the
posed upon legacies and distribttre shares OF per
sonal property by Section . OF said act approved
June l3. lSS and he may also appoint such a aidi-
tional clerks or agents a. may be necessary for
the collection OF said
The existing law relating 10 the tax on bills os
exchange is amended so as 10 read as follows
Bills o. exchange Goreignl or letters Of credit
payment OF money issued by express other COM
panies OF any person persons drawn IN but
payable out % The United States Il drawn SinEiv
or otherwise than set % three more accord
ing 10 the custom Of merchants or bankers. shall
pay toT sum not exceeding 500 cents. and for
sach 500 or fractional part thereof in excess or
200, two cents y drawn In sets OF or more Tor
snail not exceed $40 or the equivalent thereof In
any foreign country in which said bill NAV be ex-
pressed, according 10 the standard OF value fixed
by the United states. one cent. and tor each 800
or fractional part thereof IN excess % siOi one
cent