W. Bailey, collector of internal revenue, has declined to accept the appointment to the Superior Court Judge for the Seventh District, tendered him yesterday by Governor Craig, to succeed Judge Charles M. Pool, of Louisville, resigned. He wrote the Governor today that his private business is in such condition that it would not admit of his continued absence from Raleigh such as service on the bench would exact.

TAX ON CAPITAL STOCK
TIES EFFECT JIM!
Federal Revenue Agents Call Attention to Provisions of New Statute.
HOW VALUE IS TO BE MADE WITH THE FAVORABLE
Fair Average Value of Stock During Year to Be Estimated if Successful Sales Have Not Been Made to Give Actual Quotations.
The capital stock tax imposed under article 1, section 407, of the Act of September 18, 1878, upon respect to the carrying on or doing business by corporations, or associations, or Insurance companies, will go into effect January 1. The new law, which is of great importance and of wide interest, provides that a special tax shall be paid by every corporation, joint stock company or association, or insurance company, now or hereafter organized in the United States, for profit and having a capital stock tax.  Dividends, 50 cents
Lot each $1.00 of the fair value of the capital stock in excess of $199,000 except as hereinafter indicated: and every corporation, organized for profit under the laws of any foreign country and engaged in business in the United States. 