Brokers

Sec.  99.  And  be  it  further  enacted,  That  all  brokers,
and  bankers  doing  business  as  brokers,  shall  be  subject
to  pay  the  following  duties  and  rates  of  duty  upon  the
sales  of  merchandise,  produce,  gold  and  silver  bullion,
foreign  exchange,  uncurrent  money,  promissory  notes,
stocks,  bonds,  or  other  securities,  as  hereinafter  mentioned,
and  shall  be  subject  to  all  the  provisions,  where  not  in-
applicable thereto,  for  the  returns,  assessment,  collection
of  the  duties,  and  liens  and  penalties  as  are  prescribed  for
the  persons,  firms,  companies,  or  corporations,  owning  or
possessing,  or  having  the  management  of  railroads,
steamboats,  and  ferry-boats,  that  is  to  say :  Upon  all  sales
of  merchandise,  produce,  or  other  goods,  one  eighth  of
one  per  centum;  upon  all  sales  and  contracts  for  sales  of
stocks  and  bonds,  one  twentieth  of  one  per  centum  on
the  par  value  thereof;  and  of  gold  and  silver  bullion  and
coin,  foreign  exchange,  promissory  notes,  or  other  securi-

1 13  U.  S.  Stat,  at  Large,  223.
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FEDERAL  INCOME  TAX  ACTS  195

ties,  one  twentieth  of  one  per  centum  on  the  amount  of
such  sales,  and  of  all  contracts  for  such  sales:  Provided,
That  any  person,  firm,  or  company,  not  being  Ucensed  as  a
broker,  or  banker,  or  wholesale  or  retail  dealer,  who  shall
sell,  or  offer  to  sell,  any  merchandise,  produce,  or  gold  and
silver  bullion,  foreign  exchange,  uncurrent  money,  prom-
issory notes,  stocks,  bonds,  or  other  securities,  not  bona
fide  at  the  time  his  own  property,  and  actually  on  hand,
shall  be  liable,  in  addition  to  all  other  penalties  provided
in  such  cases,  to  pay  fifty  per  centum  in  addition  to  the
foregoing  duties  and  rates  of  duty.
