Question & AnswerQ&A (Act No. 1055)
The primary purpose of Act No. 1055 is to regulate the accountability for all receipts derived from concessions granted in connection with the Philippine Exhibit at the Louisiana Purchase Exposition at Saint Louis, Missouri, and to create the office of cashier for the Philippine Exhibit.
All receipts from concessions must be deposited in the Insular Treasury through a national bank depository at Saint Louis designated by the Secretary of War, without any deduction.
The Philippine Exposition Board appoints the cashier of the Philippine exhibit subject to approval by the Secretary of War. The cashier receives a salary of two hundred dollars per month in United States currency.
The cashier and his assistants required to make collections must give bonds to the Government of the Philippine Islands through the Exposition Board in amounts approved by the Secretary of War.
Concessionaires must keep full and true accounts of all receipts in books prescribed by the Philippine Exposition Board, which must be open to inspection. The Board may supervise and require changes in accounting methods and the use of checks, tickets, or cash registers as deemed necessary.
Concessionaires must pay over to the cashier all collected monies daily if required, but not less often than once each week, without any deductions unless contractually divided receipts are certified by the chairman.
Abstracts must be submitted in triplicate, showing inclusive dates, classifications of receipts (sales of fabricated articles, sales of tickets, miscellaneous receipts), must be certified by the concessionaire as true, and certified by the chairman or examiner of the Exposition Board as accurate.
Deposits must be made to the credit of the Treasurer of the Philippine Islands at the designated depository, which issues duplicate receipts. The depository also sends monthly abstracts to the Treasurer and Auditor. Deposits are subject only to the Treasurer's order.
The Board may advance funds for purchasing articles and supplies necessary for concessionaires up to an amount not exceeding the concessionaire's bond, charging the funds to the Exposition Board appropriations.
The Philippine Exposition Board determines differences between the cashier and concessionaires, while the Secretary of War resolves differences in final settlements between the Board and concessionaires.
All just claims are to be settled as soon as practicable after the exposition, and balances to the credit of the appropriation revert to the general funds of the Insular Government immediately thereafter.
Such refusal or failure to account is construed as a breach of contract with the Philippine Exposition Board.
The Philippine Exposition Board has the power to appoint agents, ticket sellers, ticket takers, and other persons necessary to enforce the provisions relating to concession accounting and money collection.
Section 12 repeals all existing laws or parts thereof that are inconsistent with the provisions of this Act.