176 



CONGRESS. (TAX REDUCTION.) 



officer, upon the payment of the fee legally 

 chargeable for the recording thereof, to make 

 a new record thereof, or to note upon the 

 original record the fact that the error or omission 

 in the stamping of said original instrument has 

 been corrected pursuant to law; and the original 

 instrument or such certified copy, or the record 

 thereof, may be used in all courts and places in 

 the same manner and with like effect as if the in- 

 strument had been originally stamped: And pro- 

 vided further, That in all cases where the party 

 has not affixed the stamp required by law upon 

 any such instrument issued, registered, sold, or 

 transferred at a time when and at a place where 

 no collection district was established, it shall be 

 lawful for him or them, or any party having an 

 interest therein, to affix the proper stamp thereto, 

 or, if the original be lost, to a copy thereof. But 

 no right acquired in good faith before the stamp- 

 ing of such instrument, or copy thereof, as herein 

 provided, if such record be required by law, shall 

 in any manner be affected by such stamping as 

 aforesaid.' 



" SEC. 8. That Schedule A of said act is hereby 

 amended so as to read as follows: 



" ' SCHEDULE A. STAMP TAXES. 



" ' 1. Bonds, debentures, or certificates of in- 

 debtedness issued after the 1st day of July, anno 

 Domini 1898, by any association, company, or cor- 

 poration, on each $100 of face value or fraction 

 thereof, 5 cents, and on each original issue, 

 whether on organization or reorganization, of cer- 

 tificates of stock by any such association, com- 

 pany, or corporation, on each $100 of face value or 

 fraction thereof, 5 cents, and on all sales, or agree- 

 ments to sell, or memoranda of sales or deliveries 

 or transfers of shares or certificates of stock 

 in any association, company, or corporation, 

 w r hether made upon or shown by the books of the 

 association, company, or corporation, or by any 

 assignment in blank, or by any delivery, or by 

 any paper or agreement or -memorandum or other 

 evidence of transfer or sale whether entitling the 

 holder in any manner to the benefit of such stock, 

 or to secure the future payment of money or for 

 the future transfer of any stock, on each hundred 

 dollars of face value or fraction thereof, 2 cents: 

 Provided, That in case of sale where the evidence 

 of transfer is shown only by the books of the 

 company the stamp shall be placed upon such 

 books; and where the change of ownership is by 

 transfer certificate the stamp shall be placed upon 

 the certificate; and in cases of an agreement to 

 sell or where the transfer is by delivery of the cer- 

 tificate assigned in blank there shall be made and 

 delivered by the seller to the buyer a bill or 

 memorandum of such sale, to which the stamp 

 shall be affixed ; and every bill or memorandum of 

 sale or agreement to sell before mentioned shall 

 show the date thereof, the name of the seller, the 

 amount of the sale, and the matter or thing to 

 which it refers. And any person or persons liable 

 to pay the tax as herein provided, or any one 

 who acts in the matter as agent or broker for 

 such person or persons, who shall make any such 

 sale, or who shall in pursuance of any such sale 

 deliver any such stock, or evidence of the sale 

 of any such stock or bill or memorandum thereof, 

 as herein required, without having the proper 

 stamps affixed thereto, with intent to evade the 

 foregoing provisions, shall be deemed guilty of a 

 misdemeanor, and upon conviction thereof shall 

 pay a fine of not less than $500 nor more than 

 $1,000, or be imprisoned not more than six 

 months, or both, at th'e discretion of the court. 



" ' 2. Upon each sale, agreement of sale, or 



agreement to sell any products or merchandise at 

 any exchange, or board of trade, or other similar 

 place, either for present or future delivery, for 

 each $100 in value of said sale or agreement of 

 sale or agreement to sell, 1 cent, and for each 

 additional $100 or fractional part thereof in excess 

 of $100, 1 cent: Provided, That on every sale or 

 agreement of sale or agreement to sell as aforesaid 

 there shall be made and delivered by the seller to 

 the buyer a bill, memorandum, agreement, or 

 other evidence of such sale, agreement of sale, or 

 agreement to sell, to which there shall be affixed a 

 lawful stamp or stamps in value equal to the 

 amount of the tax on such sale. And every such 

 bill, memorandum, or other evidence of sale or 

 agreement to sell shall show the date thereof, the 

 name of the seller, the amount of the sale, and the 

 matter or thing to which it refers; and any person 

 or persons liable to pay the tax as herein provided, 

 or any one who acts in the matter as agent or 

 broker for such person or persons, who shall make 

 any such sale or agreement of sale, or agreement 

 to sell, or who shall, in pursuance of any such sale, 

 agreement of sale,, or agreement to sell, deliver any 

 such products or merchandise without a bill, 

 memorandum, or other evidence thereof as herein 

 required, or who shall deliver such bill, memoran- 

 dum, or other evidence of sale, or agreement to 

 sell, without having the proper stamps affixed 

 thereto, with intent to evade the foregoing pro- 

 visions, shall be deemed guilty of a misdemeanor, 

 and upon conviction thereof shall pay a fine of not 

 less than $500 nor more than $1,000, or be im- 

 prisoned not more than six months, or both, at 

 the discretion of the court: Provided, That no bill, 

 memorandum, agreement, or other evidence of 

 such sale, or agreement of sale, or agreement to 

 sell, in case of products or merchandise actually 

 delivered to, and while in vessel, boat, or car, and 

 actually in course of transportation, shall be sub- 

 ject to this tax, provided such bill, memorandum, 

 agreement, or other evidence of such sale, or agree- 

 ment of sale, or agreement to sell shall be accom- 

 panied by bills of lading or vouchers showing that 

 the said products are actually in course of trans- 

 portation as aforesaid. 



" ' 3. From and after the 1st day of April, 1901, 

 every person, association, copartnership, or cor- 

 poration w r ho or which shall in his, its, or their 

 own behalf, or as agent, engage in the business of 

 making or offering to make contracts, agreements, 

 trades, or transactions respecting the purchase or 

 sale, or purchase and sale, of any grain, provisions, 

 raw or unmanufactured cotton, stock, bonds, or 

 other securities wherein both parties thereto, or 

 such person, association, copartnership, or cor- 

 poration above named, contemplate or intend that 

 such contracts, agreements, trades, or transactions 

 shall be or may be closed, adjusted, or settled 

 according or with reference to the public market 

 quotations of prices made on any board of trade 

 or exchange upon which the commodities or securi- 

 ties referred to in said contracts, agreements, 

 trades, or transactions are dealt in, and without a 

 1)ona fide transaction on such board of trade or 

 exchange, or wherein both parties, or such person, 

 association, copartnership, or corporation above 

 named, shall contemplate or intend that such con- 

 tracts, agreements, trades, or transactions shall be 

 or may be deemed closed or terminated when the 

 public market quotations of prices made on such 

 board of trade or exchange for the articles or securi- 

 ties named in such contracts, agreements, trades, 

 or transactions shall reach a certain figure, and 

 every person, association, copartnership, and cor- 

 poration who or which shall in his or its own be- 

 half or as agent conduct what is commonly known 



