Or deposits. On capital stock. Liability on this item would commence on the first days of January and July in each and every year, unless a bank had at that time no circulation outstanding, in which case it would commence with the date of the first issue of notes, and terminate on the 30th day of June or the 31st day of December, (as the case may be,) date of commencement and termination both included. Duty on deposits. Under this head must be included the balances on hand, when the books of the bank are closed for the day, which are subject to payment on check or draft, or on return of certificate of deposit, (except deposits made to the credit of the Treasurer of the United States with a national bank depositary,) whether made by individuals, banks, savings banks, bankers, or by States, cities, or towns, whether certificates or certified checks have been issued therefor or not, and, in fact, all descriptions of deposits, except as above excepted, which may be used by the bank, or from which it may derive profits, including deposits upon which the bank pays interest, whether any part of either of such items are directly in the possession of the bank or in the hands of an agent or agents. The average amount of deposits, including, in the case of a depositary, the average amount to the credit of the Treasurer of the United States from the first days of January and July, (or, in case the bank had not then commenced to receive deposits, from the date of the first deposit,) to the 30th of June, or the 31st of December, (as the case may be,) date of commencement and termination both included, will first be set down in the return. From this average amount, depositaries will be entitled to deduct the average amount on deposit to the credit of the Treasurer of the United States. Upon the remainder, which will be considered the deposits subject to duty, is to be levied a duty of one-fourth of one per centum semi-annually. Duty on capital stock. The capital stock on which duty is levied is held to be that portion of the paid-up capital stock which is in excess of the United States bonds owned by the bank. The average amount of the paid-up capital from the first days of January or of July (or, in case certificate of authority to commence business had not then been issued by the Comptroller of the Currency, from the date of such certificate) to the 30th day of June or the 31st day of December, date of commencement and termination both included, will first be set down in the return. From this average amount deduction will be made of the average amount of United States bonds, at their face value, owned by the bank, including the bonds on deposit with the Treasurer of the United States as security for circulation, or for other purposes. The rate of duty on capital stock is one-fourth of one per cent. semi-annually. The actual capital paid in will be returned, without regard to the amount specially authorized. Thus, an institution should include in the capital liable to duty any increase which has been paid in, although such increase shall not at the date of the return have received the approval of the Comptroller of the Currency. The term "United States bonds," as used in the act, is construed to mean only coupon or registered bonds, and not any portion of what is considered temporary debt, such as seven and three-tenths treasury notes, certificates of indebtedness, five per cent. notes, compound-interest notes, or temporary loan certificates. Payment of duty. The duty levied by the section referred to is required by Payment of duty.. law to be paid to the Treasurer of the United States in the months of January and July in each and every year, in default of which payment provision is made for its collection by the Treasurer out of the interest on securities in his hands, and may be made in any one of the following ways: 1st. By a deposit of the amount of duty to the credit of the Treasurer of the United States, with him, or with any Assistant Treasurer of the United States, or designated depositary, including all national banks, designated as such, and including the bank making payment, if a depositary. Triplicate certificates should be issued therefor, the original of which must be forwarded to the Secretary of the Treasury, the duplicate to the Treasurer, and the triplicate held by the party making the deposit, in which certificate it should be stated that the deposit is "on account of semi-annual duty. Depositaries should be careful to distinguish the deposit on this account, as a duty from banks, so as not to confound it with deposits on account of internal-revenue tax, to which latter class it does not belong, and should make the certificate therefor in the name of the depositing bank, and not in the name of one of its officers. 2d. By remittance to this office of the amount of duty in lawful money of the United States, or the notes of national banks; the expense and risk of transmission to be borne by the party remitting. 3d. By draft payable to the order of the Treasurer of the United States, on either of the cities of Washington, New York, Boston, or Philadelphia, to be made payable in the lawful money of the United States, or the notes of national banks. Payment will not be considered in such cases as having been made until the drafts shall have been collected, and in no case until the semi-annual statement has been examined at this office. When the draft is collected, certificates of payment of duty will be forwarded by the Treasurer to the bank. National banks should be careful always to insert the name of the State in which they are located, and to address all correspondence relating to semi-annual duty to the Treasurer of the United States. INDEX. NOTE.-Everything relating to national banking associations is indexed alphabetically under the A. PAGE ACT TO STRENGTHEN THE PUBLIC CREDIT.. ANTICIPATING payment of interest on coupon bonds and registered stock................. Banks.)... ASSIGNMENT of registered stock: By whom made, form, and execution of... In foreign countries B. BALANCES OF OLD LOANS. (See Monthly Debt Statement:)..... BANKS AND BANKING ASSOCIATIONS: NATIONAL. (See National Banks.).. STATE, observations concerning; number formerly existing... BONDS: conversion of, into national banks... tax on deposits and capital...... on notes of, in circulation... returns required from, as a basis of taxation.... for savings, how taxed.... Amounts of outstanding................. Called in for redemption...... Authority for calling in, for redemption.. 81 71 9 114, 153, 155 57, 58 57, 59 25, 78, 79 100-150 129, 145-147 86, 126, 127, 129, 134, 145, 146 Distinctive features of registered and coupon... Registered, lost or destroyed, immediate notice of, should be given..... duplicates of, authority for, and how obtained..... interest on, where payable and how transfer of, by assignment...... Coupon, precautions to be observed concerning.. duplicates of, when issued, how obtained exchange or conversion of. interest on, where payable...... transfer of, by delivery, before and after maturity. Payment of interest on, may be anticipated....................... 86, 144, 159 7, 25, 32 19, 20 18, 76 55, 64 60, 63 61, 62 69, 70 57, 59 66 '66-68 8, 68 70 64 71 165 BONDS-Continued: Purchase of, by Secretary of the Treasury. Purchased for the sinking fund, are canceled and destroyed...... PAGE. 72, 82 method of proceeding and regulations concerning... 73, 74 82, 83 83, 84 75-77 75 76 79-82 85-87, 126, 127 110, 112, 116 7 8-12 12 13 14 15 17-20 15 16 20 22 23 21 25, 79 35-43 43 Balances of old loans Gold certificates..... United States notes.. Old demand notes... BONDS, ETC., PAYABLE IN CURRENCY: (See Certificates, Debt of the United States, Navy Pension Fund, Pacific Railway Bonds, |