The Mena weekly star., 1909-07-22
TARIFF CONFERENCE
PRESIDENT TAFT GIVING ACTIVE ASSISTANCE TO coNfEREEs
 IN SHAPING BILL.
REDUCTION IN CORPORATION TAX
Rate to Be Changed From Two Per Cent to one--Mutuai Insurance Companies to be Protected In Re drafted BllI.

Washington. July 14.--At a confer ence at the White house if was defin- itely decided that the rate to be levied under the new corporation tax shall be reduced from two per cent to one per cont and that in re-drafting the measure. now in conference along with the tariff bill, to meet various oo- jectlons that have been raised, due consideration shall be given to the de- mands of the mutual life Insurance companies whose incomes would be seriously affected by the tax in It's original form.
 President Taft was the central fig ure in number of conferences 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 bringing about a conclllatlon of the differences between the two houses.
 The president told several of his callers that he Is finding the conferees conciliatory and that he Is hopeful that satisfactory measure will be presented to him for his signature. The conference report should be avail able according to the presidents In formation by the end of next week.
 As to the Mutual Insurance com panles, it is stated that the re-drafted bill will provide what portion of the income may be deducted before the tax on moneys available for dividend is assessed It will be so arranged that the tax shah fall upon stockhold- CTS profits. Allowances will De made for annuities and other long term con tracts which the companies have out standing.
 Senator Aldrich, Attorney General wickersham. Senator Burrows, Sena- tor Shoot. Representative Fordney and Speaker Cannon were among those who discussed the tariff and the corporation tax with the president
 The president made plain to them his position on q number of features of tarIn legislation.
 Determined opposition was shown by the house conferees to the increase from 1M cents to 2la cents pound which the senate made on lead bull lion. As result this schedule was held up and consequently there has been no settlement of the amend ments to the item In the chemical schedule. such as paints the basis of which is lead. This furnishes good example of the manner In which the conferees have proceeded. Boracic, salicyhc. and oxalic acid. quebracho. licorice and numerous other articles. over which there was contest in tho senate. are among the subjects that must be taken up later.
 The paragraph relating to electric light cartoons threatened to give the conferees trouble and it's eonsidera- ton was postponed The senate chang cd the duties from ad valorem to specific and the house conferees con tend that the rates were thereby in- creased The same thing Is true in regard to window glass on which the senate fixed a graduated tax according 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 arc largo number of amendments relating to finished prod ucts of these ores that cannot be dis posed of until the main subjects are settled.
 Iron ore was placed on the free list by the house and made dutiable at 35 ceats a ton by tho senate The Ding ley rate Is 40 cents ton. The gen oral impression Is that the senate will m,ske q concession to the house and that as compromise tho rate may be fixed at 10 or l5 cents a ton.
 The house provisions for free hides, struck out by the senate and the exist ing rate of 15 per cent ad volorem substituted. and for s1 lumber, which rate was materially increased .n the senate will be tho subjects of con tests. It Is not likely. however, that they will be reached this week.