The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1909-07-13
THE CONFEREES
SEEKING BILL
TO SUIT TAFT
President Is Becoming the Di-
recting Hand in Draft of
Final Bill
uy,n GRAFTON INCOME TAX
RATE REDUCED ONE PER CENT

Provided For by Exemption in the
Draft Of the Income Tax Law Now
Being Made.
Washington, July 13.--The power of
the president in the framing of the
tariff bill is being felt at both ends
of the capitol today, and the con-
ferees who now have the bill In
charge are bringing every energy to
draft final bill that will receive the
approval of the president. The SEN
| ate leaders recognize now that if
President Taft should veto the bill it
will be the death blow to their poll
cies. They are willing, therefore, to
make many concessions which could
not be secured before.
ut conference at the white house
Yesterday it was definitely decided
that the rate to be levied under the
new corporation tax shall be reduced
from two per cent to one per cent,
and that in redraiting the measure,
now In conference along with the
tariff bill. to meet various objections
| that nave been raised, due considera-
tion shall be given to the demands
OF the mutual life insurance companies
whose incomes would be seriously af-
fected by the tax in it's original form.
President Taft was the central fig
ure in number OF conferences today
and is living up to the prediction made
many weeks ago that in the confer
ence consideration of the tariff he
would actively lend his confidence to
bringing about cancellation of the
| difference between the two houses.
The president is in daily consulta-
tion with the tariff conterees. He told
several of his callers that he is find
ing the conferees conciliatory and
| that he is hopeful that satisfactory
measure will be presented to him for
his signature. The conference re-
port should be. available according to
! the presidents information by the
end Of next week.
AS to the mutual insurance COM
panies, it is stated that the redrafted
bill will provide what portion
OF the income may be deducted before
the tax on moneys available for divi-
dend is assessed. 1t will be so ar
anged that the tax shall fall upon
stockholders profits and allowances
will be made for annuities and other
long term contracts which the COM
panies have outstanding.
Senator Aldrich, Attorney General
Wickersham, Senator Burrows, Sen
ator Smoot, Representative Fordney
and Speaker Cannon were among
those who discussed the tariff and the
corporation tax with the president.
The attorney general has been fairly
overwhelmed with callers and with
letters asking for information about
various features of the measure.
! The president made plain TO his
visitors his position on a number of
features of tariff legislation
Proceeding along lines of least re-
sistance the tariff conferees made
satisfactory 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
amendments agreed upon the chemi-
cal, earthenware metal and wood
schedules have been of minor import
ance.
When the conferees on the tariff
bill began work today it was with the
knowledge that the amendments to the
lumber schedule, over which a con-
test was certain, would be reached be-
fore adjournment. The house men,
bers were expected to make strong
fight for "dollar lumber" which was
defeated in the senate. In view of the
fact that the lumber amendment will
require a great deal of deliberaticn,
it seemed likely that after the dis
cussion has continued for a time, the
whole subject would be put over un-
til another day. The conferees decid-
ed to clear up the disputes over the
matters of little importance before
becoming entangled over the really Sc
rious differences.
The members of the senate commit
tee on finance on preparing state
ment replying to the charges that the
senate amendments to the tariff will
result in increasing the cost of woolen
and cotton clothing, shoes and other
articles of common wear as we'll as
the other necessities of life The
statement will show that the duty on
shoes has been reduced and that there
has not been single change in the
rates on woolen goods and that the
rates on cotton have not been increas-
ed. Following this will be list of
about 500 decreases in the rates from
the Dingley duties. There is a list
of sixty or seventy-five increases. An
effort will be made to show that most
of the latter are not in reality in
creases of the rates but that they pro-
vide for the collection of the rates
fixed by the Dingley law, which had
been set aside by misinterpretation
of them.
NO WAR PR0RARL.E