Salt Lake Herald-Republican | 1920-05-30 | Page 30 | Government Income from Broker's Tax is Fifty Million

GOVERNMENT INCOME FROM BROKERS BROKER'S TAXIS TAXIS TAX TAXIS IS FIFTY MILLION By fly Associated Af Pre Press New York May fay 29 The Tho The government derives moro more than annually In revenue from brokers brokers' licenses and stock transactions In New York says William Wllliam B A H. H Edwards Edvards collector of at In Internal internal In- In revenue re for this district Six thousand stock brokers he said pay par paya para a license tax tar of ot 50 and In addition a 3 s special tax of ot or 10 according I Ito to the salable value alue of ot their seats on local exchanges tOt t- t Of Ot tho the commission brokers those who wh are members of ot an exchange exchange ex ex- chan change e where produce or other wares are traded In pay a yearly tax of oC 50 60 O I A 2 cent tax on shares traded In on tho stock exchange nets the tho government government government govern govern- ment several thousand dollars dally daily Unlisted corporations s having ing a a. homo home office In tho the United States are subject to the original Issue tax of at 5 cents a a. ashare ashare share shar on all stocks valued at or fraction traction thereof The monthly sale sate of oC documentary stamps stamps' averages more than half of or which Is in stamps of ot 1000 denomination or approximately 1500 1000 stamp sales fales for Cor stock transactions transactions cHons c- c Hons Mr Edwards said To supply the demand a reserve supply of oC stamps valued at always is maintained maintained main maln- l In the custom house vaults