Question 265. - In our savings department we use receipt forms instead of cheques. Is it legally necessary to stamp this form? Copy is as follows:

Savings Bank Department.

No............. Bank of..............

..............19..

Received from the .........Bank, the ram of .................dollars, on account of the Savings Bank Department.

Principal........$

Interest.........$ $

Answer. - It is necessary to place a two-cent stamp upon this receipt. Sub-section 4 of section 12 of the Special War Tax Revenue Act, 1915, applies to this case, and the bank is liable to a penalty of $100 if it pays out any money, taking this receipt without the stamp on it. (See sub-section 12 of the same section). Apparently the depositor withdrawing is intended by the Statute to pay the two cents. Sub-section 4 says: "No person shall sign a receipt for money paid to him by a bank chargeable against a deposit of money in the bank to his credit until he has affixed to the receipt an adhesive stamp of the value of two cents."