The Birmingham age-herald., 1910-11-26
PROTECTION FOR
 B|G CORPORATIONS Secrets of Returns Will Not Be
 Free to Public MACVEAGH's RULING Secretary of Treasury Says That Re- turns of Corporations Shall Only
 Be Seen By the Proper
 Authorities

Washington, November 25.-Secrets of interpretations and the details of their business are to be safeguarded by the government under the law passed by the last session of Congress providing for their filing of returns with the treasury department for the purpose of assessing federal taxes.
 Secretary of the Treasury Macveagh today issued ruling which shuts out from perusal of the reports the idly curious of those who might benefit unfairly by study of them.
 MT. MacVeagh decrees that the rec ords of the corporations filed with the department shall be kept under guard In the department itself and that no outside agent of the department un- der any circumstances shall divulge the contents of the report. The text of the secretary's> rules and regulations follow.
 l. The return of every corporation shall be open to inspection of the proper officers and employees of the treasury department. Where access to any return is desired by an officer or an employe of any other department of the government an application for permission to inspect such return, set ting out the reasons tn erefor, shall be made in writing, signed by the head of the executive department or other government establishment in which such officer or employe Is employed or transmitted to the Secretary of the Treasury. If however, the return is desired to be used in any legal pro- ceeolngs or to be used in any manner by which any information contained in the return could be made public or ac- cess to any return is desired by any official of any state or territory of the united States, the application for per mission to inspect such return shall be referred to the Attorney General and If recommended by him, transmitted to the Secretary of the Treasury
 ?. The Secretary of the Treasury, at his discretion, upon application to him being made setting forth what constitutes a proper showing of cause, may permit in spection of the return of any corporation by any bona fide stockholder in such corporation. The person desiring to in- spect such return shall make application In writing to the Secretary of the Treas ury setting forth the reasons why he should be permitted to make such inspec- ton and shall attach to his application a certificate signed by the president or other principal officer of such corpora tion, countersigned by the secretary, un- der the corporate seal of the company, tHdL ne IS a bona Hde StOCkhOlder in said company The privilege of inspecting the return of any corpora ton is personal to the stockholders and the permission granted by the secretary cannot be delegated to any other per- son.
 B. The returns of the following corpora tions shall be open to the inspection of any person upon written application to the Secretary of the Treasury, which application shall set forth briefly and succinctly all facts necessary to enable the secretary to act upon the request (a). The returns of all companies whose stock is listed upon any duly organized and recognized stock exchange within the United States for the purpose of having it's shares dealt in by the public generally. 4-
 (b). All corporations whose stock is ad- vertised in the press or offered to the public by the corporation itself for sale. Tn case of doubt as to whether any com pany falls within the classification above, the person desiring to see such return should make application, supported by advertisements, prospectus, such other evidence as he may deem proper to estab- fish the fact that the stock of such corporation Is offered for general public sale.
 The provisions of the secretary's rul- ing go into effect Immediately.