The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1917-05-12

| tries facing heavy taxes under the nous"
! i,ill protested against many features
! Under I. ruI" restricting til" numh"r
| ana Tim. II witnesses. Chairman SIM
! mons manned to end the hearings h'N'
week. RrirfS will be filed TO supplement
| oral arguments.
/ I:rpuhlicans Of the c"mnlttcc partci-
| ,.,i,.,i in The hearings today and Will Sll
| WIKI ih" Democrats in amending the
| huuS,, bill.
! Dhi..,.ti"us to "a" in""m" taxes on
stock dividends w"r" mad ny ian. -
| r'rn.Hth. representing l:"thl"hcrn S'''
! Germany stockholders: !. ~ kra1H. 81
| IL" I.arkuwunna Steel company and Ed
! ward W. Wak"ly, of III" New Jersey
| Public S"rvic" C"rporati"n.
Nv" Il" not "ri"S" any Sch"!hc 81 l;ui
! distribution ur th"s" taxes nor tn" liz
81, i!,r tax burden nor tn" sur taxes.
! SAID Mr.. Cr:tvath. hut an inC"m" tax
/ ON stock dividends hvf"r'. their ""nH"r.
! sim into cash is an unfair and unequal
| dist rihui ION.
! stock dirlu"rtis ."f subsidiary c"rp"r;t-
! ,iuns. already taxed. WAS urged by the
| l.arklwanna company.
Extra time was given 10y tn" commit
l,.. Tor discussion Of excess profits taNH-
! Inclusion az good will h" calculating
! caujtaL for assessing the excess profit :
! tax WAS rr"r"S'.d by Joseph ;. Ail"r'
. h:ri representing tho Wu"lw"rih com
! ,:,ry. of NV York. Chairman simmons
! sand good will might be used toward ar-
| :ilrial estimates Of capita! and thus
| Lr;, Il taxation and for thar reason. b"
| sid Congress has 80 fHr refused 10 49,
| inmate good will as Il part It c"rr":hi'
49, iital Artificial estimates also '"h!
L.. lnad". H. said. Of III. valu" uf trad4
: marks
Limitation Of EXCESS profits AK &c
raIi;.,l and assets ~ foreign r." and
!n:rn" Insurance" rnnpnnl"S a tuH!iE
/ used in this country was urG"d by y. L.
= Thatcher uf New I"rl; representing
! various foreign corporations. H. urG"d
! that thr inc"m" from securities held hS
! such companies abroad md not used II
| their American business should i" On
rlnri from III" lax.
The "xcc&s ur"I.s lax Of the house III,
, wa declared! "nInlr ana ln'uriinhl" ~
! .i:tr;I"S ~ Emery. counsel for III" Ma
/ iInutl Association Of manufacturers an
ether organizations which II" SAID cont
| .rI.r 5.!gn corporation" employing =.
/ 80, n0n wufkm'.n. ar =" ;"r cent al
; these in InriuSt rI''S being called upon b;
HI. government III 1t" manufacture Il
articles for tn" var. H.. proposed IN
stead Increase uf IN" normal cooperating
taxes.
| \ general attack uron The whole bill
was made hy Cameron ll:,rriSun. al
! Charlotte. y. g.. representing IA" -\m""i
: can cotton Manufacturers "a SS"''ial lrn
: H. duTncHt'u' tNl'nllNC me IhN'S ''N''!
!ntny Gears AMI reducing tn" aInuiin'
, I;li ;hl" annually.
| 'rh" excess profits tax Mr.. Morrisn!
! rlrr:cirri2"d rs = discriminatory ct:~'
! rlE imposed upon ""ru"rat!"nS whll" Ia
) di.idunIS nrr exempted. 'nrnura :nn!'
! h., sad. would prefer - straight inron,
! 'aE nrnn MT profits ar gross Stl"S..
opposing IN. doubling "f 'a>"S 81,
GIrtil"d spirits. Levi I""I". :t;t"rn"N
! for III" Narrunal wholesale. LIua"r l'.';ll
~ association. predicted II would "r'1t
! L. iurr"nS" illIrit production. N"tr'n~l""
J Instead "f Increasing Federal r"N"u a;''s
/ 1t is iInpU.Slhi" |" collect such .
heavy tax" h" said. (which represents
Il FAX II about on" th""--inh per IA
| upon III" cost ur TunuuiH"lHr'.'
SOM. increases III irih"r iIN"S ar" m"i
lnppnS"t by diSlil"rE and r,riiil'.rS. -
| sad and suggested 4 TIN i"r cent Ia
! f"r"uIiul Increase. "r twenty cents :
| ":tilnn on liquors maurfaC' Cr"d before
| th... hill il passed. !I.' argued ;bti
w,nIld conSrrv" grain &urri'"S lar :" ~
! rur;u,%"S siim';l:ll" Us" IL stored s.',''h>
ard Increase r"r"uii's.
Til" liquor trad" l. not opposing any
; iu"rcnS".' he said In in"t. they All
/ v"rlt" an increase. hun not >uch ~
enormous one ~ - t'r"r"S"h