Salt Lake Herald | 1900-01-03 | Page 6 | Internal Revenue

INTERNAL REVENUE Treasurer Roberts Tells How the Dis INs Distributions Distributions Are Being Made Washington Do Jan 2 Elite H H Rob Roberta Rober Roberts erta erts er treasurer of the United States an announces announces trounces that the distribution of o f the internal revenue collections is going on according to the original l plan and probably probably probably ably will be completed to the first group of additional l depository banks in hi eight days He says ays Every application for a inre of these deposits Its has baa been accepted and no noIe restriction Ie has bas been set et on the amount mOUnt of bonds bond placed as security by any ap When the depository bank b was already tire the th recipient of internal revenue collections it has been permit permitted ted t d to retain the deposits up to the amount of at its pledged bonds bomis In cases ca where the rate of oC exchange rendered transfers tran to New York a burden the funds have bave been assigned to banks in inthe inthe the seine same city or in neighboring beau localities beauties ties With these exceptions the Inter Intec Internal nal ma revenue reve ue collections have been con ron concentrated d in the tho National N City bank New York for tor convenience of distribution tribu tion Every Evely day these collections have been distributed in instalments In of 50 0 to the tire several depository banks bonks in inthe inthe the ratio of their bonds bonda to the total amount pledged By this process the smaller banks first received their quota and funds remained in tire the National City Olty bank only as ae the distribution went forward The second group of depository depos tory banks la is now taking form tonn and will be betre treated tre ted in all aJl respects re in the some same way and will begin to receive moneys mones soon after Jan 10 The first group of depository banks bonks numbers and the Ste amount of at bonds pledged by them is The only bank of or the far west went in this group is the National Bank of Com Corn Commerce Commerce merce of Tacoma Wash pledges