The Oskaloosa herald., 1913-10-30

claimed through" giving name and ad.
dress of licensee), which shall be suf-
ficient evidence to relieve subsequent
holders or purchasers from the duty OF
also Withholding the tax thereon.
The provisions for collection of the
tax on foreign obligations set forth in
this section of the regulations includes
the interest upon all foreign bonds,
even though the coupons may be. at
the option of the holder payable in
the United States as well as in some
foreign country.
Licensees 10 Keep Record.
All persons licensed shall keep their
records in such manner as TO show
! from whom every such item has been
received and such records shall be
open at all times to the inspection of
| internal revenue officers.
Failure to obtain license or to COM
ply with regulations is punishable by
fine not exceeding $1,000 or impris-
onment not exceeding one year, or
both, in the discretion of the court.
Such licenses shall continue in force
until revoked.
, Application for such licenses should
/ be made to the collectors of internal
revenue.
False Statement Penalty.
! If any person, for the purpose of OBJ
tanning any allowance or reduction by
! virtue OF a claim for exemption,
either for himself or for any other.
knowingly makes false statement or
false or fraudulent representation he
! Is liable under the act to severe pen
allies
Where coupons presented for pay
ment are from bonds owned by part
nership, though not taxable against
OF ownership may be signed in the firm
name by member of the firm, instead
of by the individual members of the
partnership. and shall show their, re-
spective interest In said bonds, and
the normal tax shall be withheld by
the debtor. with respect to the income
represented by said interest, except
to the extent that said partners may
claim in the proper certificate the
benefit of exemptions as individuals,
as provided under paragraph C, sec
ton 2, of the federal income tax law.
Foreisn-owned Bonds.
This tax will not be deducted from
the income which may be derived from
interest on bonds, mortgages, equip
ment trusts, receivers certificates, or
other similar obligations of which the
bona fide owners are citizens of for
eign countries residing in foreign
countries, provided. that when such in.
terest coupons or in case of wholly reg,
istered bonds the orders for the pay
ment Of such interest shall be accom-.
| panied by duly certified certificates to
cover the cases of foreign and non-res.
ident owners of bonds and other Sc,
curities.
Unless such proof of foreign securi
| ties is duly furnished the normal tax
of one per cent shall be deducted.
| On or before February /, 1914, Ger.
tificates of ownership OF any of the
] UOHuS llOil Which, "tlt uSldGlltu COu
pons, may be delivered to the debtor
and said debtor may thereupon return
any sum withheld to which the owner
| of such bonds may be entitled under
! the law and regulations, upon the facts
disclosed by such ownership certif
Gates. ANY temporary certificates re-
lating to bonds for which certificates
of ownership shall not have been de
livered to the debtor shall on or before
March /, 1914. be delivered to the col
lector of internal revenue
W. II. OSBORN,
Commissioner OF Internal Revenue.
Approved, October %, 1913.
w. G. M'ADOO.
Secretary Of the Treasur