New-York tribune., 1913-07-27
income BILL CHANGED
Successful Work of Allied Rea
Estate Interests.
TAX ON OWNERS LESSENED
Organization Hopes to Have All
Objectionable Provisions Of
Measure Withdrawn.

Members Of the Allied Real Estate In
terests are jubilant over the apparent
success Of their campaign to secure re-
lief from the burdensome provisions OF
the federal income tax bill. SO far as
they affect real estate owners. This is
the most notable thing that the Allied
Real Estate Interests has done for real
estate owners since its statewide and
successful campaign for the repeal Of the
annual mortgage tax law in 1906. Allan
Robinson. president OF the association,
said Yesterday:
We have every reason 10 believe that
our nationwide campaign to impress
Congress with the injustice Of the IN
come tax provisions as originally drawn
is going To be successful. our law COM
mttee made its report on April l6, and
this report was published extensively
throughout the country in the public
press The committee pointed out two
serious defects in the bill:
81. That the attempt TO tax an income
at the source would result in tenants and
mOTtgageOTS Withholding the amount OF
the tax until proof was furnished 10 each
such tenant that the tax had been pdld
by the mOrtgagee or the landlord. TINS
lOr1s would have 70 disclose their entire
business TRANSACTIONS 10 each person
thus Withholding the amount OF the tax
% That real estate corporations could
not set of interest on Indebtedness eN-
Cept TO an amount Of such Indebtedness
not exceeding its paid up capital stock
. outstanding at the close Of the year OIL
IL no capital stock, the capital employed
IN the business at the close Of the year
The effect OF this provision would Do
haT Il
not only on its income, but also on the
amount IL paid out for mortgage !ndebt-
edness.
Edward f. Clark. former president OF
the Guardian Trust Company. and a
member OF the law committee Of the
Allied Real Estate Interests. was dele
gated by the association 70 represent II
before the various committees in Wash
ington and did so represent it, laying
fully before the committees OF the Senate
and the House Of Representatives the
serious effect that such provisions would
have upon real estate owners and asking
that real estate interests be placed on a
par with other property owners in the
operation Of the law. At the same time
the Allied Real Estate Interests started
it's campaign in every state OF the Union
and got IN touch with all the prominent
real estate owners, brokers and real es-
tate organizations, requesting them to lay
the matter before their respective repre-
sentatlves I'm Congress. The reports that
we have received show that this has been
very effectively done. and that there are
few Senators and Representatives who
have not had laid before them the injus-
tice which was aimed at real estate
owners in the way the bin was originally
drawn.
The new form Of the bill, as issued
20 the public. shows the effect Of this
campaign. Following is the statement Of
Mr. Clark as TO what the changes are
that have been made in Difference to our
representations:
"As a member OF the law committee OF
the association delegated 70 act in this
matter j take pleasure in advising you
that our efforts 10 relieve real estate own