Page:United States Statutes at Large Volume 13.djvu/312

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284 THIRTY-EIGHTH CONGRESS. Sess. I. Ch. 173. 1864. stitutions, and insurance companies shall pay the said duty, and are hereby authorized to deduct and withhold from all.payments made on account of any dividends or sums of money that may be due and payable as afore- Lm in du H said, the said duty of five per centum. And a list or return shall be made ww ° Pand rendered to the assessor or assistant assessor in duplicate, and one of said lists or returns shall be transmitted, and the duty paid to the commissioner of internal revenue within thirty days after the time when any dividends or sums of money become due or payable as aforesaid; and said list or return shall contain a true and faithful account of the amount of duties as aforesaid; and there shall be annexed thereto a declaration of the president, cashier, or treasurer of the bank, trust company, savings institution, or insurance company, under oath or affirmation, in form and manner as may be prescribed by the commissioner of internal revenue, that the same contains a true and faithful account of the duties as aforefm5€?:l3a*gl5°· said. And for any default in the making or rendering of such list or red,,p],cm_ ° turn, with such declaration annexed, the bank, trust company, savings institution, or insurance company, making such default, shall forfeit as a. penalty the sum of one thousand dollars; and in case of any default in making or rendering said list or return, or of any default in the payment of the duty as required, or any part thereof, the assessment and collection of the duty and penalty shall be in accordance with the general provisions P*°VlS<>· of law in other cases of neglect and refusal: Provided, That the duty upon the dividends of life insurance companies shall not be deemed due or to be collected until such dividends shall be payable by such companies, nor shall the portion of premiums returned by mutual life insurance com- Post, p. 481. panics to their policy holders be considered as dividends or profits under this act. _ Banks ¤¤gi¤<>*» Sec. 121. And be it further enacted, That any bank legally authorized gggssrfglgiflgjgs to issue notes as circulation, which shall neglect or omit to make dividends fund, to retum or additions to its surplus or contingent fund as often as once in six

°r::;:‘;‘;‘;”;}:{5ts months, 'shall-make a list or return in duplicate, under oath or affirmation

` of the president or cashier, to the assessor or assistant assessor of the district in which it is located, on the first day of January and July in each year, or within thirty days thereafter, of the amount of pronts which have accrued or been earned and received by said bank during the six months next preceding said first days of January and July ; and shall present one of said lists or returns and pay to the collector of the district a duty of tive -per centum on such profits; and in case of default to make such list or return and payment within the thirty days as aforesaid, shall be sub- 1>,-,,,,5,,,,, ject to the provisions of the foregoing section of this act: Provided, That when any dividend is made which includes any part of the surplus or contingent fund of any bank, trust company, savings institution, insurance or railroad company, which has been assessed and the duty paid thereon, the amount of duty so paid on that portion of the surplus or contingent fund may be deducted from the duty on such dividend. Sec. 122. And be it further enacted, That any railroad, canal, turn- Railroad and pike, canal navigation, or slackwater company indebted for any money for ‘20lf‘,’g;"‘£'“' which bonds or other evidence of indebtedness have been issued, payable in one or more years after date, upon which interest is stipulated to be paid, or coupons representing the interest, or any such company that may have declared any dividend in serip, or money due or payable to its stockholders, as part of the earnings, profits, income, or gains of such company, and all profits of such company carried to the account of any fund, or used for construction, shall be subject to and pay a duty of nve per centum on the amount of all such interest, or coupons, dividends, or profits, whenever the same shall he payable; and said companies are hereby authorized to deduct and withhold from all payments, on account of any interest, or coupons and dividends due and payable as aforesaid, the duty of nve per centum; and the payment of the amount of said duty so deducted from