3. Promissory notes executed and mailed in Canada to a payee
within the United States.
4. Promissory notes issued directly by foreign governments and
placed in this country for sale.
5. Promissory notes secured by certificates of indebtedness
issued by the Director General of Railroads.
6. Coupons and interest notes which are attached to a principal
obligation and are substantially repetitions of the promise to
pay interest contained in the principal obligation.
7. Promissory notes secured by United States bonds or
obligations issued after April 24, 1917 or secured by the
pledge of a promissory note which itself is secured by the
pledge of such bonds or obligations. Such bonds must have a par
value of not less than the amount of such notes to exempt the
latter.
_Cancellation of Stamps_
Any person using or affixing stamps must so deface the same as to
render them unfit for further use by writing or stamping his initials
and the date thereon with ink, or by cutting and canceling such stamp
with a machine or punch, which will affix the initials and date.
The cancellation should not so deface the stamp as to prevent its
denomination and genuineness from being readily determined.
In addition to the above, stamps of the value of 10 cents or more must
have three parallel incisions made by some sharp instrument lengthwise
through the stamp after the same has been attached to the document,
except where the stamps are cancelled by perforation.
_Use of Cancelled Stamps--Refunds_
A stamp affixed to an instrument and cancelled cannot lawfully be
removed and attached to another instrument. Refund will be made by
the collector of internal revenue for amounts paid for stamps used in
excess of requirements, or on instruments not actually effective and
for which a substitute is prepared and stamped, or on instruments not
subject to tax.