Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1909-07-13
GAnNlNUO lAA
Conferees, at Taft's Suggestion, Will
Cut it Down to One
Per Cent.
PRESIDENT is TAKING HAND
Is Advising with Committee in Final
Work on Tariff Bill.
HOUSE PASSES INCOME TAX
Only Fourteen Votes Cast Against
Proposed Amendment.
MUCH DEMOCRATIC oRAT0RY
Chairman Payne Predicts Its AdOp-
ton Would Make United states ga
Nation of Linrs''---wOrk
on Schedules,
MUCH DEMOCRATIC oRAToRY


d, AsHINGToN. d. c., July R-At a !
conference at the White House today It |
was definitely decided that the rate to be |
levied under the new corporation tax shall
be reduced from per cent to l per cent,
and that in redrafting the measure, now In /
conference along with the tariff bill, to
meet various objections that have been
raised, due consideration shall be given to
the demands OF the mutual life insurance
companies, whose incomes would be seri-
ously affected by the tax in it's original
FORM
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 consid-
Grafton of the tariff, he would actively
lend his influence to bringing about a
conciliation of the differences between the
two houses.
President Is Hopeful.
The president told several of his callers
today that he is finding the conferees
conciliatory and that he is hopeful that
a satisfactory measure will be presented
to him for his signature. The conference
report should be available, according to
the presidents information, by the end
of next week.
AS to the mutual insurance companies
It is stated that the redrafted bill will
provide what portion of the income may
be deducted before the tax on moneys
available for dividend is assessed 1t will
be so arranged that the tax shall fall
upon stockholders profits. Allowances
will be made for annuitles and other long
term contracts which the companies have
outstanding Senator Aldrich. Attorney
General wickersham, Senator Burrows,
Senator Smoot, Representative Fordney
and Speaker Cannon we're Among those
who discussed the tariff and the corpora
tion tax with the president today.
The president made plain to his visitors
today his position on a number OF fea-
lures OF tariff .leginlation.
Friction over Lead Schedule.
Determined opposition was shown by the
house conferees today to the increase from
~ cents to 2M cents a pound which the
senate made on lead bullion. AS result
this schedule was held up, and conse-
quently there has been no settlement of
the amendments to the chemical schedule,
such as paints the basis of which is lead.
This furnishes a good example Of the man
ner In which the conferees have proceeded
Boracic, salicylic and oxalic acid, Queb-
raco, licorice and numerous other articles
ate are among the subjects that must be
taken up later. The paragraph relating
to electric light carbons threatened to give
the conferees trouble, and its considera-
ton 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 thing
is true in regard to window glass, on which
the senate fixed a graduated tax, accord
ing TO sizes.
The more important Of the subjects
passed over In the metal schedule are
iron ore, lead bullion and zinc ore and
bullion. There are a large number OF
amendments relating 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 Is cents
ton by the senate The Dinglsy rate
is 10 cents a ton. The general impression
is that the senate will make a concession
to the house. and that as a compromise
the rate may be fixed at 10 or Is cents a
ton.
The house provisions for free hides,
struck out by the senate. and the exist
ing rate Of Is per cent ad valorem sub
stituted and for 81 lumber. which rate
was materially increased in the senate
win be the subjects of contests. 1t is not
likely. however, that they will be reached
this week.
Duty on Cotton BaEGinE.
That cotton bagging, which was put OF
the free list by the senate. is not to re
main undutiable, was oDe of the first pre-
dictions made in regard to the proposeC
action of the conference committee on tn
tariff bill. The house conferees contend
that a number OF American manufacturer
of cotton bagging would be compelled Il
shut down II that article should remain ol
the free list, and II is said the senat
conferees will not need much urging T.
agree TO return bagging TO the dutabl
list.
Jute and jute butts, from which eotto
bagging is made. have been transferred L
he dutiable list by the senate. but as jut
was on the free list in the Dingley bill
as well as the Payne bill, the duty prob
ably viii be taken off in conference.
Another prediction made with regard L
the action OF the conferees is that the dut
on coal, which Is 60 cents In the senate bill
as compared TO 81 cents in the existing bill
win be finally agreed on at 10 cents 4
conference. The house placed bituminou
coal on the free list. but when the bill wa
about 20 be passed there was serious oppo
sition on account OF the free provision 10
coal which depended on a reciprocal pro
vision 70 become eilecuNe IN OFoef l
satisfy the desires OF those who did no
want reciprocal free coal the house leader
told them 10 have their request incoI
porated In the senate bill. and 1t is nov
believed 10 cents a ton will be agreed o
as a compromise.
INCOME TAX PASSED BY HOUSE
Proposed Constitutional Amendment