The Birmingham age-herald., 1909-07-13
Taft and Par9 Leaders Arrive at Decision After Much
 Discussion
DIFFERENCES SETTLED
 IN HARMONIOUS SESSION
Due Consideration Was Given to tho Insurance Companies Whose h. comes Would Have Been
 Affected By Tax.

Washington, July 12.-At a confer ence at the White House today is was definitely decided that the rate to be levied under the new corporation tax shall be reduced from per cent to per cent and that in re-drafting the measure now in conference along with the tariff bill, due consideration will be given to the demands for the mu- tual life insurance companies, whose incomes would have been seriously af- fected by the bill as 1t was passed by the Senate.
 President Taft was the central figure in a number of conferences today and Is living up to the prediction made many weeks ago that in the conference consideration of the tariff bill he would actively lend his influence to conciliate all differences.
 The conference report should be available, according to the Presidents best information, by the end of the next week.
 AS to the mutual companies. it is said the re-drafted bill will be so ar ranged that the tax shall fall upon stockh olders' profits and allowances will be made for annuities and out standing contracts.
 The tariff conferees made satisfac- tory progress today in spite of the fact that the House members were compelled to be absent much of the | time on account of the session of the House. Thus far. however the amend
 
 earthenware, metal and wood schedules have been of minor importance. Determined opposition was shown by the House conferees to the increase of IF cents to 21s cents a pound which the Senate made on lead bullion. As a result this schedule was held up. Boracic, salicylic and oxalic acid, quebracho. licorice and numerous other articles, over which there was a con- test in the Senate. are among the sub jects that must be taken up later.
 The paragraph relating to electric light cartoons. which threatened to give trouble, was postponed The Senate changed the duties from ad valorem to specific and the House conferees contend that the rates were thereby increased The same is true oi window glass, on which the Senate fixed a gtacuated tax according to sizes.
 The more important subjects passed over in the metal schedule are iron ore lead bullion and zinc ore and billion. There are a large number of amend ments relative to finished products of these ores that cannot be disposed of until the main subjects are settled.
 Iron ore was placed on the free list by the House and made dutiable at 25 cents a ton by the Senate. The Dngley rate was 4o cents a ton. The general impress sion Is that the Senate will make a con- C, ssion to the House, and that as a com promi.e the rate may be fixed at 10 or 15 cents a ton.
 The House provisions for free hides which was struck out by the Senate, and the existing rate of 15 per cent ad valorem substituted, and for $l lumber, which rate was materially increased in the Senate, will be the subjects of contest. It is not likely. however, they will be reached be- fore next week.
 The amendment adopted by the Senate providing for the establishment of GUS toms court is likely to be accepted by the House conferees. It was said today that the more the House conferees study the plan the more they favor it.