Mr. FESSENDEN. I move to amend by striking out on pages 135 and 136, from line 3127 of section 9 down to and including line 3135, and inserting instead of I those words what I send to the Chair. The Secretaryread the words proposed to be stricken out, as follows: That section 120 be amended ibnygstriking out the proviso to said section and insert in lieu thereot the following; Provided. That the tax upon the dividends of life insurancecompanies shall not be deemed due until such dividendsaropay able: nor shall the portion of premiums returned by mutual life insurancecompanies to their policy hold crs. nor the annual 9r semi annual interest allowed or paid to the depositorsin savings banks or savings institutions. be considered as dwidends. The words proposed to be inserted were read, as follows: byTshtartiksinegction 120 be amended out all after the enactingclauseand insertingin lieu thorcot the following: that thereshall be levied and collecteda dot of 5%. on all dividends in scrip or moneyi ere afterdeclareddue: and whenever the same shall be payable to stock ehaorldneinrgs.sp. oinjiccoym heo, ldocrrs or depositorsasa part of the gainsof any bank. trust com/ any. savings institution and of any fire. marine. it‘o.inland insurance company, cither stock or may tual, under whatevernameor style known or called, in the U.S or Territories. whetherspecially incorporated or existing undergeneral laws and on all undistributed sums or sumsmudeor addedduring the year to their surplus or contingent funds: and said hanks.j.rust companies.savihgsinstitutions and insurancecompanies shall pay thesaid tax and are hereby authorized to deductand withheld from all payments madeon accountof any dividends or sums of moneythat may be due and payable as aforesaid. the said tax of live or cent. And a list or return shall be madeand rendered to the assessor or asst assessor.on or beforethe 10thday of the month following that in which any dividends or sums of money heroinedueor payableasat‘oresuiil, and said list or returnshall contain a true and faithful account of the amount of the taxes as aforesaid and there Shall be annexed theretoa declaration of the President. cashier. o rtreasurer of the bank. trust coin pony. saviuus institution or insurance company. under oath or athrmntion. in form and manner as may be prescribed by the ComrIntREv that the somecontains a true and faithful account of the taxes as aforesaid.And for any default in the making or altering of such list or return. with such declaration annexed.the bank. trust company. savings institution or insurance company making such default shall forfeit. as a 1penalty.the sum of $1,000a.nd in caseof any defau t in making or remderingsaid list or return or of anydefault in the paymentof the tax as required or any part thereof.the assessmentand collection of the tax and penaltyshall he in accordance with the general provmons of law in othercasesof neglect and refusal: Provided. That the tax n ion the dividends of life insurance companicsshn l not be deemeddue until such dividends are payable.nor shall the portion of premiumsre turned by mutual life insurance companiesto their policy holders. nor the annual or semi annual interestallowed and paid to the depositorsin savings songs or savings institutions be consideredas diVi on s.