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Square bookies wanted to cry in their beers last night. But they had to save their beer money to pay the new Federal taxes on betting that went into effect yesterday morning.
Meanwhile, liquor dealers here, also, under a new Federal tax, reported yesterday that sales had fallen off slightly. There was a small rush to stock up before the tax went into effect yesterday, and owners attribute the lull to this rush. They expect business to be normal again by the Princeton weekend.
Under the new law, all gamblers must pay $50 for a Federal "occupational stamp," to be posted in their places of business. This presents complications, as the average bookie carries his place of business in his back pocket.
But failure to buy this stamp or pay the ten percent tax on the gross amount of bets they handle makes a bookie liable to a year in prison plus a $10,000 fine.
Only 25 men have picked up stamp applications so far, and of these, only ten were bookies. The rest were lawyers.
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