Tuesday, November 30, 2010
Monday, November 29, 2010
All well and good, but the tax paid was not sufficient. In the Compilation of Decisions Rendered by the Commissioner of Internal Revenue, January 1899 it was clearly stated, "Checks drawn in a foreign country, but payable in the United States, taxable 2 cents on each $100 or fraction thereof." The tax on this $996.65 bill of exchange would have been 20 cents. But at least one bank found it necessary to ask the IRS for that ruling.
Sunday, November 28, 2010
Saturday, November 27, 2010
The Consolidated Kansas City Smelting and Refining Company was a huge conglomorate of numerous companies by 1898 including the Mexican Ore Company ( bill signed by their cashier), and the El Paso Smelting Works (cancel on US stamps). Without the documentation that likely accompanied this payment it's hard to tell who was paying for what other than someone involved with the CKCS&RC was sending 22.58 Pesos to someone in Mexico.
Because 22.58 Peso is less than $100 yet the bill was taxed 4-cents with a pair R164 battleship revenues, it's likely that only a single copy of this bill was issued. The relevant tax was 2-cents per $100 on each copy if bills were written in sets of two or more, or 4-cents per $100 if written singly. The bill was also taxed 4 centovos in Mexico by the Banco Comercial de Chihuahua in Juarez, just accross the Rio Grande from El Paso.
Today Juarez is one of the most violent cities in the world due to the Mexican drug wars, but in 1898 there was an open border between Mexico and the United States.
Thursday, November 25, 2010
Wednesday, November 24, 2010
Tuesday, November 23, 2010
Sunday, November 21, 2010
Saturday, November 20, 2010
Friday, November 19, 2010
Double-ring Circular Date Stamp
Wednesday, November 17, 2010
Monday, November 15, 2010
Sunday, November 14, 2010
Saturday, November 13, 2010
Why wasn't it taxed on July 1, the date it was accepted? Was the Consolidated Kansas City Smelting and Refining Company unsure about whether or not tax was due -- it was written June 25, 1898 some 5 days before the tax went into effect; or didn't they have any stamps on July 1, or? The new tax stamps were hard to come by in New York City on July 1, 1898 and it might have taken Consolidated a day to acquire some or to find out that, yes, even though the draft was written prior to the effective date of the new tax law, the tax was required as the payment date, the relevant date for taxation, was after July 1.
It's a nice early usage of a pair of the R171 50-cent battleship documentaries, properly paying the 2-cent per $100 in face value tax on a $5,000 inbound bill of exchange. Their usage suggests that the $1 Commerce issue may not have been available in New York on July 1.
Detail Showing July 1, 1898 Accepted Handstamp of CKCSRC
and cancels on the 50-cent stamps
JUL 2 1898
International Metal Co. (double strike)
Curiously the stamps are cancelled with a single-line handstamp of the INTERNATIONAL METAL CO. Like the Consolidated Kansas City Smelting and Refining Company, the International Metal Company was a huge mining firm doing business in many Western States and then US Territories as well as in Mexico. The firms may not have been directly related, but they shared some common directors. Maybe Consolidated got the 50-cent tax stamps from International?
We'll likely never know, but it sure is a nifty draft and our thanks go to JW Palmer for sharing it.
Friday, November 12, 2010
Cancel on partial piece with enough information to indicate that this stamp was likely used on a check University Club? Partial cancel but very likely with its definite U, likely N, and the ITY and CLUB.
Thursday, November 11, 2010
Wednesday, November 10, 2010
Examples of the cancels, when available, are posted.
Express Company 010: The American Express Company, Type 2s
Type 2: Two lines of plain type block type all caps 2.75mm high. Initials are 18mm long. Dates are 2.5mm high. Date 189 is 5mm long. 1900 is 7mm long and 1901 is 6.5mm long. Date 189 is 2.75mm below initials and dates 1900 and 1901 are 2mm below initials. All date figure "1"s are serifed. Normally without vertical rectangular periods. There are varieties of spacing. Last figure of the year 189 is usuall added by pen.
Varieties listed below combine those from the main section of the Fullerton list and those from the addendum at the back, with a bit of re-ordering:
Basic varieties by year date:
1ct Pale Blue a. Date 189 (1) Roulette
b. Date 1900 (2) HH
c. Date 1901 (2) HH
Varieties of a., 189 year date:
Tuesday, November 9, 2010
The growing young city of Elgin, Illinois, some 30 miles to the northwest, was chosen as factory site. The factory was completed in 1866. Elgin National Watch stopped producing watches nearly 50 years ago. The rights to the name "Elgin" were sold to a company called MZ Berger Inc, that specializes in manufacturing its watches in China and distributing them outside the traditional watch dealerships. Elgin-branded watches produced after 1964 have no other connection to Elgin or the Elgin Watch Company.