48 o SIDKTIYNINTH CONGRESS; Sass. I. aC¤.t27.; ¤*°°¤"¤· thi de¤i•z·a|$on··¤£; suchv diviiends=I(or=<for euehi rt of saevl;fhriod sm mn. has b•emimm:ietmce)]‘·wasederiI _ iron P M I 5 •*°°¤ °°’°· amoun rcenumo an sums _,¤ e
-¤§I¤,¤eQ’§¤g& (other
< _ A Bd mz] l A' l‘ lj I Ab · _, , V i3 f0nm»period‘ol,mt iiyrayedn l " W A ` . f 1)* · — l ~ ( #:2 in 1'·.E"`,j*` ;<» *·`»~?£ls .;**7 25 l‘.(' §?,§',§,*‘;,,°¥'f‘“‘°"°“"· (5) _ Investment expensesacgjsaid the_£tnxsbh?ye¤;—}?mv€&q£, L1¤¤i¤•¤¤¤- That 1f any general expenses are 1n part assxgned to or mcluded 1H ‘I`>I 1;,I the investment expenses; tbe;Js0tak·deduction.tunder tlus paragraplh _ _, shall not exceed one-fourth of 1 1- centum of the book value of t e I tviy YP ~;1¢»¤§Ab¤;inv§•ted<ssseta:heh§*1·iat¤)It.he )bieg1¤¤i1g>»t1ikl.e¤d tobthe ¤··—=·····~ ····~ -ot1;er\ t`e' """Ti? L1e#i5gU%£¤ i£$¤;tt · I I uponor reepéctmeitge realzestate ownedibylthe mgm- E‘°°°“°“‘ I against rlocal chai had
to increase thai valuevof fthe gru¢:perty;·a¤n¤ee1l;l»;a¤d;¤net
·iod•ggs•dy<s1n¤unt¢p•idK·out fomnewe. ` dingsyor fbrfpermanent in inxpmmmeg 0!Js;b6“Ifl!lODtSemBd6..bO’iR¢f9880 thervalue of-any a}L$'§,£-‘£a£. ` property. r e deduction allowed, by »tlus·i psi·agra£`hi&·sbaJL be · ’ ` ` ' allpvgedihxithegeaae otstaxemimgésed upon amsharehol cha com- pany upon his interest as share older, whieh»a~x·e&paidIby1lth¤;cem¢
peimbmzeement ·biém# the 1sb•reholder,·abutI;,inaj such
gzsescr: ¤ eshnllkbe ellewethther shamholdere the amount V I . *811 ` ~;;<>· ;r;,;.1·1l; JW sx lo ~s wl: z _ {W-, ${1; em, .,,§’T”"'"°“ °' ‘”°° aw (i)1»A¤¤· ~;ilt¤•ueel-fom they exhaustion wmarrand , of roperty, uwiudxnqna reasonable allnqvnncetfor ;Ig; l?‘?"““‘°°°"°T EM QS;} ;lqgo;>>a¢cruede;vv•$h1u;£:eapt¤able; year“o11,1ts
tedstmd, s ~¤d,ebtednes&) anon.: Pwr
` ’ x(oth¤r» thanoobligatiorgmlof the -1911, Ianduorxgxnally subadnbod io1·—.l2y)·gh¤—ta¢4§>nyenj)¤g wntezeat upoo.’wh;¤hzas·gwheHy S acuic mono, BMX! * T 'E `{_I· ';>!Z§ ; mile. VE (ily Inuthq _ case i sedomeqisnol .11£e».n¤sura.no¤IvI§ompar14y‘,; the: mcome of wluch (computed vnthout the ljelwfit »o ;th1s:p&1'¤§g1’¤Ph) _ , i¤z$2%l00I ~‘0D¢T;,•th§<‘S8&9$ %i;0QO;(but»af the net <1m:cme;1s»more .; than 25{‘(?i}0 e tax imposed phalllxzi¤t».¤xce¢d·ztbe tnnj ` :n•ould~bgl4myhb1e»if;· $9,00Q..cr0d¤t<w¤r¤ allowed; plus Rm mt. dm°_the2¤»m¤i»of’the{1!etee1¤o9haH,1i1»»e»ooss;of $$§5¤,QQOm{ '}_;A};f`)fL I ,mmN _, (5 rgq geaucuen shan bmndeenméenoiparagraphs &h&¤¤·¤¤1.,(¥L)1 I . x I of 81¤d1{l§o0 t t·oi_auyI¤‘ca1estutepwned?an ocougxe
mholejor lim pargpbyaa `1li0L`1¢!lll31f|H0¢€ company. unless sthem as
meludecliml tbewetmnof grmrauecate therrentsl vnlneofrtbe ¤oa¤¢¤pied.i§S¤oh mntalmtl ¤bsll§benot¢lesslG>hn=¤kv¤1mmh1_ __·m
Inzsngzivnti qecpivaivcmeovhnvgwqaanteraheu >1¤r•wi· ¤
netqin¤¤m0•~»(a __ sied¤ct1¤Q·_.$•¤@Ssq•¥¢pgeemtwk1,·I¤¤d\;nB other ex-
mthetrabe pi {ls ;>er;§tum pb;1 0irr(·h§,»b0Qk=lY¤»1\lQ, at
H wes tnxabhryeaxg the @estate»e• owned emownpxed. p£YZ1i‘“ ” °°"` ¥·’»(¤=b Imtbe mmcef n~'foreng¤~li£s¤insgnaee;•0m;a¤¤;n;the_»a;no¤at xaféjkimh inconiwfhnégny,. :souxoeguw1thmn;·tIm _ Umted be e same roportnon of 1§5;9knno0ne;fo¤ the
" ‘ ‘ " isnsblemtsn withgmhnd Fwithout Jb•··UgitelI‘ States inn ‘ ' »hy1km.(•adlheld_iby ntmt the end
ofothegnqcsbwayemlupmf _‘ &ls¤q¤:”¢2§*m4w»:£:•t%2.jU¤lo‘;d ,*._. gc' ` , · ,, `(
$#5; ‘%c IaIzI~ f
°,§,'f$'§‘§,°§,f°’}§¥§“:§ .Spc.·,l!46» ¢;(a¤){ ·Inqheu»of¤&lm·}Qax·>1mposed¤\b3xa 6 I there mum. ;h•1l»_he(1evz•d, e0lleetod,·an&·pa»d¤for»each ¢axeble:yebm·upo¤: the Rau. net income of every insurance company (other than a ife or mutual insurance company) a tax as follows: (
