178 WAR REVENUE LAW OF 1898. WAR REVENUE LAW OF 1898. SPECIAL TAXES. IN EFFECT JULY 1. 1898. Imposed Annually. Banks and Bankers with capital not exceeding $25,000.. $50.00 For each $1,000 over $25,000....... ...2.00 Computed on basis of capital and surplus of preceding fiscal year. Brokers in securities.. Brokers paying tax as bankers, exempt. 50.00 Pawnbrokers... .20.00 20.00 10.00 Commercial Brokers,.. Custom House Brokers..... Theatres, Museums, Concert Halls, for which entrance money is required, in cities of over 25,000 inhabitants. Circuses.... 100.00 ..100.00 must be paid in each state, territory or D. of C. in which exhibition is held. Other Shows and Exhibitions.....10,00 (not enumerated) must be paid in each state, territory or D. of C. in which exhibition is held. Bowling Alleys, Billiard Rooms, open to public, with or without price, per alley or table.. ...5.00 Tobacco-Dealers in Leaf, annual sales not exceeding 50.000 lbs... ...6.00 Annual sales between 50,000 and 100,000 lbs, 12.00 24.00 Annual sales over 100,000.. Tobacco-Dealers. Every person selling or offering for sale manufactured tobacco, snuff or cigars exceeding 50,000 lbs annual sales... ..12.00 Tobacco-Manufacturers. under 50,000 lbs. Annual sales ...6.00 Annual sales between 50,000 and 100,000 lbs. .12.00 24.00 Annual Sales over 100,000. Cigar Manufacturers. Annual sales under 100,000 cigars... ....6.00 Annual sales between 100,000 and 200,000 cigars.. ..12 00 Annual sales over 200,000 cigars.......24.00 Manufacturer selling his own product at place of manufacture not taxed as a dealer. Computed on annual sales of preceding fiscal WAR REVENUE LAW OF 1898. 179 DOCUMENTARY STAMP TAXES. Stocks, Bonds, Debentures, Certificates of Indebtedness, issued after July 1, 1898, per $100 face value or fractional part thereof ....05 U. S. Govt., state, county or municipal corporations are exempt, also stocks and bonds of co-operative building and loan assoc. with capital under $10,000.00, or loaning only to shareholders. Transfers of Stock, per $100 face value or fractional part thereof... ....02 Sales or Agreement to Sell any Merchandise or Products at any Exchange or Board of Trade, for present or future delivery, per $100 or fractional part thereof.01 Bank Check, Draft or Certificate of Deposit, not drawing interest, sight or demand... Bills of Exchange (inland), Time Draft, Certificate of Deposit drawing interest, or Promissory Note, or for each Renewal, for each $100 or fractional part thereof.... .....02 .02 Also applies to domestic P. O. Money Orders by paying an increase equal to amount of stamps required. and to Bills of Exchange drawn out of but payable in U. S. Bills of Exchange (foreign), Letters of Credit, drawn singly, Express or Telegraph Money Orders, payable out of the U. S., per $100 or fractional part thereof..04 When drawn in sets of two or more, for every bill of each set per $100 or fractional part thereof.... ....02 Bills of Lading, of evidence of receipt (other than charter party), for export out of U.S.... .....10 Bills of Lading, or other evidence of receipt, issued by express or transportation companies or persons, for each shipment in bulk or packages, and to each duplicate thereof... .....01 Bonds.-Indemnity and all other bonds of any description not otherwise provided for (except in legal proceedings).... ....50 Certificate of Profits, or Certificate or Memorandum showing interest in association, company or corporation, or transfers of the same, per $100 face value or fraction thereof.. .....02 Certificates of Damage or otherwise, and Certificates or Documents of Port Wardens and Marine Surveyors....... ....25 180 WAR REVENUE LAW OF 1898. Certificates of any description required by law, not otherwise specified...........10 Charter of any ship, vessel or steamer, or renewal or transfer thereof, under 300 tons 3.00 5.00 10.00 Between 300 and 600 tons........... Exceeding 600 tons... Contract: Brokers' Note er Memorandum of Sale of goods, stocks, bonds, notes, real estate, or property of any kind or description, for each note or memorandum.10 Conveyances of lands or other realty, value between $100 and $500. ....50 For each $500 or fractional part thereof in excess of first $500..... ....50 Telephone Messages, charged at 15 cents or over... ...01 Insurance (life), for each $100 or fraction thereof of amount insured.. ...08 Industrial weekly payment plan, 40 per cent. of first weekly premium. Does not apply to fraternal, beneficiary societies, or employees' relief associations operated on lodge or co-operative plan, exclusively for members and not for profit. Insurance (marine, inland, fire), for each policy made or renewed, per $1 of premium paid or fraction thereof. 1-2c. Purely co-operative or mutual fire insurance companies, carried on for members' protection and not for profit, are exempt. Insurance (casualty, fidelity and guarantee), for each policy, or renewal, for accident, fidelity, employers' liability, plate glass, burglary, elevator, etc., etc., not otherwise provided for, per $1 of premium paid or fraction thereof.... ..1-2c. Leases. For not exceeding one year. ....25 Between one and three years......... ..50 Over three years.... 1.00 Manifest for Custom House Entry or Clearance for Foreign Port, per ship of 300 tons..... Between 300 and 600 tons.. Exceeding 600 tons.... ...1.00 ...3.00 5,00 Mortgage or Pledge of Real or Personal Property, between $1000 and $1500......25 WAR REVENUE LAW OF 1898, 181 For each additional $500 or fraction thereof in excess of $1500.... Renewals same as original instrument. ....28 Power of Attorney, or Proxy, to vote for election of officers. ....10 Religious, literary and charitable societies and public cemeteries exempt. Power of Attorney, to sell, rent or lease, collect, sell or transfer stock, bonds, etc., and perform other acts not heretofore specified ..25 Claims against United States exempt. Protests of Notes, Bills of Exchange, Acceptance, Check or Draft or any Marine Protest, by notary public or other officer authorized by law of any state or states.. Warehouse Receipts (except for receipts issued for agricultural products to actual grower)... ...25 ....25 Stamp duties imposed on manifests, bills of lading and passage ticket do not apply to steamers or other vessels plying between U. S. and British N. A. ports. PROPRIETARY STAMP TAXES. Medicinal Proprietary Articles and Preparations, perfumery, cosmetics, etc., domestic or imported, per package not exceeding 5 cents, retail price (except natural spring waters).. ..1-8c. Between 5 and 10 cents retail price....1-4c. Between 10 and 15 cents retail price...3-8c. Between 15 and 25 cents retail price...5-8c. And for each 25 cents retail price, or fraction thereof in excess of 25 cents.. ...5-8c. Chewing Gum, or substitutes. per package, for each $1 or fraction, retail price...04 Wines, per bottle of one pint or less.......01 Each bottle more than one pint.. ......02 All articles provided for under this head, in the hands of manufacturers, wholesale and retail dealers, on July 1, 1898, are subject to stamp tax, but it is deemed a compliance if such articles as are in the hands of wholesale, and retail dealers whr are not manufacturers thereof have affixed per stamps at time of sale at retail. 182. BANKRUPTCY LAW. THE NATIONAL BANKRUPTCY LAW: The Federal Bankruptcy Act, which nullifies all State laws affecting insolvency, and which establishes a uniform system of bankruptcy throughout the United States, became operative August 1st, 1898. It provides for the appointment of referees and trustees whose duty it is to administer the estate of the bankrupt and distribute the assets among the creditors. Each referee is appointed by a court of bankruptcy for two years and is clothed with many judicial powers. The courts of bankruptcy include the district courts of the United States and Territories, the supreme court of the District of Columbia and the United States court of the Indian Territory and Alaska, The trustees, of whom there may be one or three, are appointed by the creditors of the bankrupt estate, and co-operate with the referee in the administration of the estate. A petition to make a person or corporation an involuntary bankrupt must be signed by three creditors whose claims aggregate $500. A discharge in bankruptcy under the new law releases the bankrupt from all his provable debts, except judgments in actions for fraud or obtaining property by false pretenses or false representations, or for wilful and malicious injuries to the person or property of another. Two other exceptions are made in the cases of debts not duly scheduled in time for proof and allowance, and debts created through embezzlement, misappropriation or defalcation by the bankrupt while acting as an officer or in a judiciary capacity. The bankrupt may file his application for discharge after the expiration of one month, and within the next twelve months subsequent to being adjudged a bankrupt. In certain cases the time may be extended. Instead of submitting his case to a referee the intending bankrupt may offer terms of composition to his creditors, after he shall have been examined in open court, or at a meeting of his creditors, and filed in court the schedule of property and list of creditors required to be filed by bankrupts. The judge may then confirm or disapprove the composition at his own discretion, Compositions, however, may be set aside upon proper application, and discharges revoked upon a showing, made within a year from the |