The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-05-30
SENATE FINANCE COMMITTEES
LEADERS CONFER WITH PRES
lpENT ON SCHEDULE.
KINGSLEY is STILL OBJECTlNG
Life Insurance Man Continues Protest
against Taxing ineome-one Demo.
cratic Senator Changes Mind and
-SS-s' -t-
Now'Favors Free Sugar and Wool.

Washington. May 30.-Whether to
put cattle, wheat and oats on the free
list or to put duty on their products
is one Of the absorbing problems of the
Senate Finance Committee just now In
revising the Underwood tariff bill for
Senate consideration. senator Sim
mons, chairman of the committee;
John Sharp Williams, chairman of the
subcommittee handling the agricultu-
raj schedule, and Representative Un-
derwood, chairman of the House Ways
end Means Committee, discussed the
waiter with President Wilson Thurs
d4g
The President is reported to have
agreed with Senator Williams and Sem
ator Simmons that raw materials and
their products in the agricultural
schedule should be equalized in the
bin instead of placing raw goods on the
dutiable list and making meats and
-four free as in the bill at present. To
esualize them was determined upon
several weeks ago, and the Senate
subcommittee Is reported to have de-
cided also to put cattle, sheep and
hogs and wheat and oats on the free
list.
Whether the President agreed to free
listing Of the raw materials or urged
that the agricultural products be made
dutiable in conformity with the Under
wood rates on raw materials was not
disclosed after the conference, but
Democratic Senators were resigned to
the general accepted report that all
the articles would be placed on the
free list
Free wool and free sugar as provided
for in the Underwood bill are regard
nd to be in stronger position than
4 Yer and tightening of the strings ON
thS Use administration measures is re-
pojrted to be due largely to the Presi.
Aent's recent attack on efforts Of lob
byists to change the sentiment as to
these schedules. One Democratic Sem
ator who heretofore has been Of the
mind that small duty should be plac-
ed on wool and that free sugar in
three years should not have been i'm
posed, changed his mind Thursday. He
now says he Is convinced that both In
dustries can get along without protec-
ton.
The cotton schedule is reported now
to be very unsatisfactory in many in
stances to the Finance Subcommittee,
and It is to be generally rearranged
and many items to be changed and the
duties in most cases to be increased
!. from the Underwood rates.
Again Thursday the Williams sub
fcofpmittee was at work on the income
tax section Of the bill and a compre-
hensive brief supplementing his oral
testimony was filed by Darwin P.
Kingsley, president of the New York
Life Insurance Company. opposing the
taxing Of mutual life insurance COM
panies.
Mr. Kingsley revealed a point hither
to not discussed that "the bill entirely
ignores the fundamental provision
which says that incomes under $4,000
shall not be taxed"
mot ten per cent of the policy
holders in cooperative or mutual com.
panies have incomes over $4,000" Mr..
Kingsley asserted. yet this bill pro-
sceeds to tax man, however small his
income, merely because he insures his
/fife." -''- !.
I. Declaring that there are no profits
IN mutuai life insurance companies,
and that they should be exempted from
the income tax, just as mutual FIRE
insurance and other organizations
would be. Mr.. Kingsley pointed not
that by state and federal governments
life insurance companies and their
members already were taxed $4,000
600 annually. $1,50O,o0o bein< I1e cvr-
poration tar which Is to be szzcted
in this bill.
J, "As 1t lies before the Sen4te.F he
added, "the bill taxes what ore NJ
takenly called dividends pal 81 u1Ir-