Warehouses in foreign countries for storage of merchandise in transit or in bond

Bibliographic data

Monograph

Identifikator:: 863514456

URN:: urn:nbn:de:zbw-retromon-45340

Document type:: Monograph

Title:: Warehouses in foreign countries for storage of merchandise in transit or in bond

Place of publication:: Washington

Publisher:: Government Printing Office

Year of publication:: 1905

Scope:: 1 Online-Ressource (206 Seiten)

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: North America

Collection:: Economics Books

142 WAREHOUSES TN FOREIGN COUNTRIES. debt at par, shall be held by the Government, to be returned to the concession aires as provided by the law of March 19, 1897. Art. 21. Debts due the federal treasury for responsibilities of any sort of the company which exploits the warehouses shall have the preference mentioned in article 106 of the general law governing institutions of credit for the debts due on account of contribution taxes on credits of whatever sort, real or per sonal, which the company may have. CONCESSION OF THE MEXICO AND VERACRUZ WAREHOUSES. Following is a translation of the concession under which the Mexico and Veracruz Warehouses (Incorporated) is acting: Article 1. The Mexican Bank, the Mercantile Bank of Veracruz, and the Anglo-Mexican Banking Company (Incorporated), in conformity with the law of February 16, 1900, are authorized: I. To establish in this capital and in the port of Veracruz general bonded warehouses to receive foreign merchandise on which the import and addi tional duties or port dues have not been paid. II. To establish in said points and in any others which may be deemed conven ient, within a radius of 50 kilometers of the City of Mexico, general commercial warehouses to receive national merchandise or foreign merchandise on which the customs and other dues have been paid. III. To set aside in its buildings suitable places for the display of samples, in storage, on which the duties have not been paid and which may be reexported. Art. 2. The general warehouses established in accordance with this conces sion shall be subject to the provisions of the laws on the subject and to the following bases : A. The name of the company shall be “ Almacenes Generales de Deposito de México y Veracruz, S. A. (Mexico and Veracruz General Storage Warehouses, Incorporated). B. The capital stock shall be 2,000,000 pesos ($2,000,000), with the privilege of increasing it with the previous authorization of the treasury department. C. The principal domicile of the company shall be the City of Mexico. D. To guarantee the establishment of the general bonded warehouses the company shall deposit in the general treasury of the nation the sum of 200,000 pesos ($200,000) in bonds of the 3 per cent consolidated debt, or 150,000 pesos ($150,000) in 5 per cent bonds of the interior amortizable debt. E. Of this deposit the Government will retain 100,000 pesos ($100,000) of the bonds of the 3 per cent, or 75,000 pesos ($75.000) of the 5 per cent debt, in conformity with article 20 of the law of February 16, 1900, and the rest of the bonds shall be returned to the company as soon as it has commenced its operations. During the entire time of the deposit the company shall have the right to collect the coupons of interest due. F. The transfer of the concession shall be null unless expressly approved by the treasury department, with the exception of that authorized by article 10 of the general law of institutions of credit of March 19, 1897. G. To compensate the Government for the amount of the expenses of super vision the company shall pay into the general treasury of the nation, in quar terly installments, the sum of 3,000 pesos ($3,000) per annum. The company is further obligated to pay the salaries of the employees who, in conformity with the regulations and dispositions relative thereto, are named by the Government for the inspection, vigilance, and guarding of the merchandise which may be received in its warehouses. H. The company shall enjoy for twenty-five years, counted from March 1& 1897, the franchises and exemptions from taxes authorized in section 6 of the law of said date relative to institutions of credit, and further, until January 1> 1905, the exemptions conceded by article 15 of the law of February 16, 1900. I. The term of this concession is forty years, counted from March 19, 1897. J. All controversies which may arise with the Government relative to this concession shall be submitted to the courts of the Republic, with the exception of those which should be decided administratively, in conformity with the laws. Art. 3. The company may make use of the right conceded in article 16 of the law of February 16, 1900, to construct in Veracruz tracks connecting its ware houses with the docks and railroads constructed, or which may be constructed >» the future, referring to the department of communications and public works ¡ n

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