TO AFFIX RE?EI0E STAMPS.
XOCAX AGEKTS KATE IDEAS OF
THEIR OW2T ABOUT IT.
XttnFrom the Internal Beveaae Office
Stajnpt Explains affaaccr cfAffiTtr.gr
oa Stoat Transfer.
Snio C tie pteaudoa agest; are
ustaK tt the wssaer im irhfck ilia
UMttft States suuap tax oh transfers
Cf stock sfaotrid be paid. One day U
srpfc Collector Ilnywood called upon
Use looaibers oC tb Hoooiultt Saxsfc
R&e&fcace. daring a sewfon, and
ike atetfeod of sSxtog stamps.
Tfco agoatt aoakiag transfers hare
rdTas4 to transfer stock unless the
United Ststes stamp xxed to the
cwtflleete tamed to the purchaser.. Tliia
trts not the war intended by the
but the agents refused to lie
i; otherwise, claiming that thar dW not
ak thcmeetTes liable in tfet
tor the non-payment of the
Thte Modftlon having arisen,
Palk of the Honolulu Stock
addressed a letter of inquiry to
the Collector of Internal Revenue, stat
ins the poaitloe taken by the plants- ,
tis agents, to whtea tne xouowing
rftffty -was received:
Internal Revenue Service,
i . District of Hawaii,
; Collector's Office,
Hmwdnln. II. T.. June 28. 100U.
Mr. Cv J. Falk, Secretary. Honolulu
- Stock Exchange. Honolulu. H. T.:
reply to your request for
rnHng on the affixing of stamps for
tmnfars of stock. I beg leave to sub-
mU'lhe following ruling made by the
Comndsaioser of Internal Revenue:
1. VT?en stock la transferred for
wbicfa no certificate has bean issued.
MOi the evidence of transfer is shown
only by the books of the campaar. the
stamps should he placed upon such
2. "Where the change of ownership
la by the transfer of a certlficato. and
the certlflcate contains a blank form of
assignment on tb? back, which is tilled
& by the Insertion of the name of the
rsoa to whom the stock is transferred,
the sump should be placed upon
i Jn case of an agreomont to soil,
or whera the transfer Is, by the
of 'tiro certificate, signed in blank,
tho name of the transferee, or vendee
to bo filled in afterwards, there should
bo niado and delivered by tho sellor to
tho buyor a bill or memorandum of
sale, to which tho stamp should be
Tbo rulings given above follow exactly
the method of affixing stamps
proscribed by the AVar Revenue Act
- rff -
- ' ". .
The third ccthod of transferring stock
referred to above is the one in com
mon csa "Whenever stock endorsed la
blank is passed Irani .one colder to another,
the law absolutely reqnires that
the stamps should be affixed to a memorandum
of sale. It is not' fegal. In
such case, to affix the stamps either to
the certiScate which passes, or to the
certificate issued in lien thereof by the
secretary of the company. Congress
undoubtedly possessed the power to
prescribe the method of paying- the
tax. as well as the amount to be paid,
and stamps most be afflxed in the exat
manner prescribed by law.
On transfers of stock, the seller cr
his. agent should affix and cancel the
nece&sary stamps. The seller, the buyer,
and their brokers or agents are all
liable to fine and imprisonment if the
stamps are not affixed.
When certificates which have been
transferred are presented to the company
for cancellation, and the owner
or broker assures the company that
the transfer tax has been paid, the
company issues new certificates In lieu
of the old certificates without stamps.
The Commissioner of Internal Revenue
roles on uiB point as follows:
"Upon saies of certificates of stock of
a company made by a broker, where tha
transfer is by delivery of the certificate
assigned In blank, the broker is
required to affix the requisite stamps
to his memorandum of such sale; and
upon his assurance that this has been
done, there is no responsibility upon
the company in the issuance of certificates
in new names in lieu of old certificates
canceled. If It is found thereafter
that the brokers have failed to
comply with the requirements of the
law, with reference to the stamping of
their memorandums of sale, the criminal
liability is upon them,"
R. N. FR1CK,
Deputy Collector in Charge.
TO FIGHT THE BLACKS
IN WEST AFSICA.
KINGSTON (Jamaica), Jane 19.
Tho West Indian regiment to-day received
orders from the War Olfice to
hold itself in readiness to proceed to
Csmbia, West Africa, to ficht the Sofa.
Uumarara ha oiFered 400 volunteers
and a Maxim guu for service against
the Aslmuts. About 275 men of the
Kingston iufmitry militia volunteered
for tho ame service yesterday.
LONDON, June 19. Colonel Wilcox
reports to the Colonial Otlice that Captain
Willwjn of the Royal Irish Fusi
liers and seven natives were KUiea ana
ten wounded in Captain Hall's attempt
to relieve Colonel Carter. There is no
news from Coomassie.
A lame shoulder is usually caused by
rheumatism of the muscles, and may
be cured by a few applications of
Chamberlain's Pain Balm. For sale by
all dealers and druggists. Benson,
Smith & Co., general agents, Hawaiian
. fUl, jsf yWjHPE:'
--! W r.
....--.;.,, ."wgeggv y '
EHE HOKOLimxr BHPuBOGAif, SUNDAY, JtJET 2, 1S00.
HRITISH TBOOPS 2302:
AFRICA FOB. CKDTA.
LONDON Jane IT. The extreme
gravity of the Chines crisis in the
eyes of the British GoTemrnect is
shown by the decision to detach a
division tlOJC men of infantry, three
batteries of artillery sad a siece train
from the Natal (fair Bed vers Batter's)
forces for immediate dispatch to China.
There are enough transports ready
at Durban to convey these troops away
as soon as they can be got aboard.
The principal part of the division is
at rietennaritzburg now.
There is no prospect of allevation of
the Chinese situation, which undoubtedly
Is causing the keenest alarm
ia political and commercial quarters
here. The fate of the international
force is regarded as a matter of secondary
importance. The crucial period
will be after the disturbance has been
suppressed, and the future government
for China comes up for settlement- It
is in view of that contingency that
England is accumulating military and
naval forces In the Far- East.
HIlo Town Elated
Commodore George Beckly reports
people flocking to Hilo in great numbers.
He says the race track is in the
pink of condition and the horses doing
very welL Everybody is looking forward
to the celebration of the Fourth
of July as the greatest day Hilo has
A STinister's Good Work.
"I had a severe attack of bilious colic,
got a bottle of Chamberlain's Colic,
Cholera and Diarrhoea. Remedy, took
two doses and was entirely cured," says
Rev. A. A. Power, of Emporia, Kan.
"My neighbor across the street was
sick for over a week,- had two or three
bottles of medicine from the doctor.
He used them for three or four days
without relief, then called in another
doctor who treated him for some days
and gave him no relief, so discharged
him. 1 went over to see mm the next
morning. He said his bowels were in
a terrible fix. that they had oeen running
off so :ong that it was almost
bloody flux. I asked him if he had tried
Chamberlain's Colic, Cholera-and
Remedy and he said, 'No.' I went
home and brought him my bottle and
gave him one dose; told him to takf
another dose in fifteen or twenty minutes
if he did not find relief, but he
took no more and was entirely cured.
I think it the best medicine I have ever
tried." For sale by all dealers and druggists.
Benson, Smith &' Co., -general
agents, Hawaiian Territory.
The Honolulu Republican
month. " '
:;.---Y'-X .; 1 -
SOME PEOPLE KNOW
OTHERS DON'T. YOTJ WILL NOT BE DECEIVED IF YOTJ BUY
Noted as the Coolest Corner in Town
CARBONATED POIESTADf DBMS,
- - (SODA WATER)
NUTRITIOUS DELICIOUS REFRESHING
IN THE HIGHEST DEGREE PERFECT
Great Variety of Flavors Novelties Added Frequently
Our Vichy a Special Feature
Natural Fruits Our Own Selection
Our Ice Cream "par excellence" The Finest
FOUNTAIN, COR. TORT HOTEL 51 5l
Benson, Smith & Co,, ltd,
GRiMWQOD, RICHARDSON & CO.
CIVIL, MECHANICAL, ELECTRICAL ENGINEERS,
A GOOD THING WHEN THEY SEE IT!
PARKE & LACY CO.,
PELTON WATER WHEEL CO.,
H. N. COOK BELTING
COBDRN CO. Lubricating Oils, Greas
BYRON JACKSON MACHINE WORKS. Whirlpool
GALIFORNLV ANTI-CALORIC CO. " ,V"
Anti-Caloric Pipe and Boiler PInst$Pv k"
Anti-Caloric Boiler Blocks,
PACIFIC ALMONIA & CHlUCAL CO,
JUDSON DYN.VaIITE POWDER CO.
MEESE & GOTTFRIED CO. L1NDE ICE MACHINE.
P. 0. Box 450
Head The Honolulu Republican.
I THE 1900
1 1VER JOHNSTON!
It is a Handsome, Weil-Made and Popular Wheel, one with a Reputation for Honest Construction.
New Features and Valuable Improvements Lighter Weight, Finish and Equipment Unexcelled.
It has many
We cordiaUy invite you to visit our store and see our display of wheels. We have Just Received a
s . :-;- x ai,wo ionn ivrnrioi nf STORIXNTGrS and IVER JOHNSTONS.
IF YOU WANT TO BE POPULAR TOU SHOULD
Ride a Sterling or Iver Johnston Wheel.
" " j. Paeifie and
:t ' wle THE 1900 c
5TERLINQ OliE A0ENTS
Is a Beauty.
t ,HonoluluJs Pavorite FORT STREET
Ehler's Block I. h
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, - ...i. s- . ',' .
,.1.. S5J rfA .
, .. !--- ,S. '-V V '.
. .H. n e...- fl. ' -T' 2 -,-.
1. f ii IM)I r mn ii
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