Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1912-06-22
HAWAII HAS
F|NEI|REC0RD
|NF|NANCES
BY C.. S. ALBERT.

Especial " I n CorrCSpnndcnCc')
WASHINGTON, ID. c., June I. -
Only five Internal Revenue collection
districts in the United States have
surpassed Hawaii for the increased
amount of money turned into the
| Treasury for the first ten months OF
the fiscal year 1912 as compared with
! the same period of 1911. The total
Gain credited to the Hawaiian Islands
| is Si2,T36.6i.
So satisfactory was this increase, In
the opinion of Treasury Department
officials, that in publishing a compila.
| ton of returns for the ten months they
add this sentence:
The assessments in the Hawaiian
District indicate an extremely prosper.
Gus condition of affairs In those isl
ands."
The districts indicating more pros
pority than Hawaii are: First Missouri
$S4 .SSS.13. Second New York Sl15,.
1OOSOO. Third New York sSO,113.i1.
First Pennsylvania S1O4,151.2l, First
Wisconsin $lO3.S2456,
The comparison for the Hawaiian
Islands follows:
Number of Returns-l9il, 1876; 1912,
i6S.
Tax Asscsscd-19ll, Sl29.273.S7:
1912, Si72,Ol0.4S. Increase, si2.736.6l.
The corporation tax which will be
assessed for May and June, 1912, will
not materially change these figures.
In discussing business conditions as
indicated by the returns and compari.
sons the Treasury Department officials
thus comment:
THAT general business conditions
were somewhat better in 1910 than
they were in 1911, particularly with
respect to the iron and steel indus
tries. Is evidenced in the showing in
the 23rd District of Pennsylvania Uhe
Pittsburg DISTRICT and certain manu-.
featuring industries, is evidenced by
| the considerable decrease reported in
the districts of Connecticut and Mas.
sachusetts. The general decrease is
accounted for in part because the cor.
pOratiOns filed their returns more
promptly in 1911 than they did for
1910. resulting In saving to them.
| selves thereby of several hundred
thousands of dollars by escaping the
| 80 per cent. addition to the assess.
ment called for by the statute on &C.
count OF failure to file the return on
time; and also the constitutionality of
the law now having been upheld by
| the Supreme Court of the United
States more careful study has been
made by the corporations with re.
spect to the making of returns to see
that no more tax liability is admitted
| than is required by law.
while full statistics have not yet
been tabulated the returns indicate
that the decrease in gross receipts
during the year 1911 Is not as great
as would be indicated by the decrease
in net income. It is indicated that la.
Dor and supply men shared more
largely in the receipts of the various
companies In 1911 than In 1910. This
appears to be particularly indicated in
the case of railroads, which seem gen.
orally to have paid increased amounts
for labor without a corresponding in,
crease in income being indicated, in
many cases an actual decrease I'm In.
come being shown.
ut Is believed that the tax due the
Government under Section 80 of the
Act of August >, 1909, was more close
ly assessed during the third year of
its operation than in the first two
years, which is indicated somewhat by
the Increased number of corporations
making return, which increase is quite
large, regardless of the fact that thou
sands of corporations have been strick