Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1909-07-15
Taking an Active Part in the Con-
ferences over Fixing Final
Rates.
REDUCE CORPORATION TAX
The Rate VIII Bc One per Cent. and
Mutual Insurance Companies VIII
DC prOtcctcd-TnrlT Confer.
<es Made Good Progress
Ycstc rdny.

Washington. y. c., Jnly Pat a con-
ference at the White House to-day It
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 to meet various objec-
tons that have reen raised due consi-
deration shall be given to the demands
Of the Mutual Life Insurance companies
whose incomes would ne seriously af-
fected by the tax in It's original form.
President Taft was the central figure
IN number of conferences to-day and
is living up to the prediction made many
weeks ago that in the conference con-
sideration Of the tariff he would ac-
lively lend his influence to bring
about n Cancellation Of the differences
between the two Houses
The President IS In daily consultation
with the tariff confereos He told sew
eral Of his callers to-day that he IL
finding the conferees concilatory and
that he Is hopeful that a satisfactory
measure will be presented to him for
his signature. The conference report
should he available. according to the
Presidents information. by the end OF
next week
As to the mutua insurance com
panieS. It is stated that the re-drafted
bill Will provide what portion Of
tho Income may he deducted before
the tax on moneys available for divi-
deni is assessed. :. will DO so ar
ranged that the tax shal. fall upon
stockholders profits and allowances
will be made for annuities ard other
1Op,- VIII
ranies have outstanding.
Senator Aldrich. Acknowledgement
wickersham Senator Burrows Sena-
tor Smoot. Representative Fordrey
and Speaker Cannon were among
those who discussed the tariff and the
corporation tax with the President
to-day. The encouragement has
been fairly overwhelmed with callers
ana with letters asking for inforrna-
tion about various features of the
measure.
Tho Pr--ident made plain to his
visitors to-day hts position on a mum
Der of features Of tariff LEGISLATION.
WORK OF CONFEREEs
Proceeding along lines of least re-
sistarce the tariff, conferees made sat
isfactory progress. to-day in spite Of
the tact that tho House members arc
compelled to be absent much Of tho
time on account Of tho session Of the
House Thus far, however, the
amendments agreed upon in the chem
ical carthcuware metal and wood
schedules. have becn of minor import
ance
Determined opposition was shown
by the House conferoes TO the in
crease from Il cents TO 2is cents
pound which the Senate made on lead
bullion As result, this schedule
was held up and consequently there
has been no settlement OF the amend
ments to the items In the chemical
schedule, such as paints the basis of
which Is lead. This furnishes a good
example for tho manner in which the
conferces have proceeded. The para
grapt relating to electric light car
bons threatened to givs the oonferees
trouble and It's consideration was
postponed Tho Senate changed the
duties from ad valsren to specific
and the House conferees contend that
the ra ties were thereby increased The
Same thing Is true In regard to win
dow glass on which the Senate fixed
RraduateO Tax dCcOIullE " SincS
The more important Of the subjects
passed over in the metal schedule are
iron ore. lead bullion and zinc ore
and bullion
WILL COMPROMISE ON IRON.
Iron ore was placed on the free list BY
the House and made dutable at u cents
a ton by the Senate, The Dinghy rate
Is 40 cents ton. Tie general impression
Is that the Senate will make concession
to the House and that as a compromise
the rate may be fixed at 10 or II cents
ton.
Tho House provisions for free hides.
struck out by the Senate and the existing
rate of is per cent ad valorem substi-
tuted, and for 81 lumber which rate was
materially increased in tho Senate VIII
be the subjects of contest. 1t Is not ike
ly, however, that they will be Eeached
this week