The Bridgeport evening farmer., 1917-12-03
WAR TAX STAMPS TO BE USED ON
 ALL DOCUMENTS
New Revenue Bill Affects Many Papers of Transfer,
 Bonds and Notes

Washington, Dec. 3.-Documentary stamp taxes of the war tax bill went into effect Saturday. Revenue stamps must be affixed to bends of indemnity or indebtedness, capital stock issues, stock transfers, produce sales on ex- changes, drafts, promissory notes, conveyances and deeds, customs house entries steamship tickets, proxies, as- ing cards and parcel post packages. None are required on checks.
 All stamps are sold by postoffices except those for stock transfers and produce sales which are distributed through revenue collectors. Millions of dollars in receipts are expected to reach the treasury from this source.
 The taxes are similar to those inn posed during the Spanish war and by emergency revenue act of 1914.
 On capital stock transfers, from which the government expects to de- rive a large revenue, and which will fall heavily on stock exchanges, the tax is two cents for each $100 or frac- tion of the face value. Stamps are to be affixed to the stock books, not to the certificate of sale or exchange.
 For produce sales on exchanges the tax is two cents for $100 of value of the merchandise covered by the agreement and stamps are to be affix- ed to the memorandum or bill of sale. The law covers transferred or scratch sales and sales for future delivery.
 Bonds of indebtedness are taxed cents for each $1O0 of face value or fraction and renewals are taxed as new issues.
 Indemnity and surety bonds are subject to a tax of 50 cents, or one per cent. of the premium charged for the execution of the bond. Bonds or policies of reinsurance are exempt.
 A tax of cents is levied on each original issue of certificates of stock, either on organization or reorganiza- ton, of face value of $100 or frac- tion. To meet the practice in some states of issuing stock without face value, it is specified that the tax shall be laid on the actual value if there is no face value.
 For drafts or checks payable other than at sight or on demand, and for promissory notes and their renewal, the tax is 2 cents for each $100 or fraction. This levy will lay burden particularly on the banking business Ordinary bank checks are not taxable
 Realty conveyance and deeds are taxed 50 cents where the value of the interest conveyed is between $1OO and $500, and 50 cents for each addition al $500 or fraction. Deduction may be made of only lien or encum- brance remaining on the property at the time of sale.
 Before any parcel post package may be accepted by a postoffice it must bear, in addition to the regular postage, revenue stamps amounting to one cent for each 25 cents postage or fraction.
 The entry of goods at a customs house for consumption or warehous- ing is taxable 25 cents when the value is not more than $100, 50 cents when the value is between $100 and $500, and $1 when the value exceeds $500
 Passage tickets to transatlantic, South American, or other ports not in the United States, Canada or Mex1- co are taxed according to sliding scale running from $1 on tickets cost" ing between $10 and $30, to $5 fol tickets costing more than $60.
 Proxies for voting at any meeting except of religious, charitable, fra ternal, educational or literary organ izations, must bear 10 cent. revenue stamps. For a power of attorney the tax is 25 cents. In addition to the old tax of cents on playing cards a new levy of cents pack is impos-