Rensselaer Journal, Volume 11, Number 10, Rensselaer, Jasper County, 15 August 1901 — Brokers Must Pay Tax. [ARTICLE]

Brokers Must Pay Tax.

Dealers in "puts” and “calls” and “spreads” on boards of trade are liable to the special stamp tax. Such is the decision of Commissioner Yerkes of the internal revenue bureau announced in a telegram from Washington yesterday. The ruling-is based on paragraph 3,. section 8, of the act of March 2, 1901. Members of the Chicago Board of Trade who deal also in Milwaukee fear that if tne cecision is enforced it will practically kill this kind of speculation. “Some of the brokers may quit,” said Albert Booth, one of the men who have been operating in the cream city. “In fact, the ruling will have a tendency toward the discontinuance of this business.”