BROKERS AND STAMP DUTY.

Auckland Star, Volume XXVI, Issue 212, 5 September 1895, Page 7

BROKERS AND STAMP DUTY.

A PROTEST.

On Sepb. 3rd a meeting of members of the Auckland Brokers' Association was held for the purpose of conferring with Captain Morris, M.L.C., with regard to certain alterations in the Stamp Act desired by the brokers. Mr J. M. Lennox presided and said thab tho two clanses_f bhe Sbamp Acb insisting on the ingerfcio— of the name of the purchaser on transfera waß very obnoxious and meant a lob of inconvenience to brokers. The mining waa not now a local matter, ib extended through the coiony and to foreign porta, and the Go-vernmonb should do all it could to foster the industry. A draft of a pebibion for presentation to the House of Representatives was submitted. Ib proposed: (I) Thab an amendment should be mado in the Stamp Act, 1888, respecting the amount of duty payable on a transfer of shares in gold mining companies. (2) That the duty payable on each transfer shares should be Is, irrespective of the value of such shares transferred, and that transfer forms with a shilling impressed sbamp should be issued. (3) That sections 152 and 133 of tbe Stamp Act, 1882, should be repealed, and in lieu thereof, that it might be enacted that the date in each transfer (instead of the name at presenb) should be filled in, under a penalty, before being signed by the transferor. (4) That the present Stamp Act pressed hardly on tbe holders of goldmining shares, and the working of the said Act caused delay and much vexation, and hampered brokars in the conduct of their business. (5) The petitioners believe that such an alteration could be effected without loss of revenue, as the increased volume of bubineas would amply compensate for any reduction made in the amounb of duty payable. Ib waa decided bo prepare a petition aB above for presentabion. Capbain Morris promised to do his utmost to bring aboub the reforms desired by the brokers.