Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-09-05
Another Important
Strategic Position
Taken by Italians
LONDON. Sept. 3. The Italians
have captured Monte San Gabrielle,
according TO adviccS to the Daily Mail.

sis accurately reflecting the war de-
velopment.
A graduated tax plan was opposed
by Senator Hollis, who contended at
least 60 per cent of war profits should
be taken by the government.
The bin should be increased to at
least $4,000, 100000 without any in
justice, he argued.
Opposing it, Senator Smoot argued
it would allow some of the largest eX-
cess corporate incomes to escape tax
alton. Some, the Utah senator de-
clared, made 800 to 400 per cent prof
its during the pre-war period and
would make about the same this year,
and therefore unless an excess in tax
were adopted, they would escape a
federal levy if made on war profits
alone.
The overwhelming vote, 81 to 12,
on the Hollis proposal, was taken to
make virtually certain that the new
excess profits tax provision would he
finally retained. Several senators
who have voted for higher war profits
taxation did not support the Hollis
proposal.
Those With la Toilette.
Those voting for the La Toilette
60 per cent amendment were: Borah,
Brady Gronna, Hollis, Husting,
johnson of California, Jones of Wash
ington, Kenyon, King, Kirby. La Fol
lette, Mcclellan, McNary, Myers. Nor
ris, Thompson, Trammell and Varda-
man.
Senators voting for the so per cent
flat rate were:
Ashurst, Chamberlain. Gronna
Hollis, Husting. Johnson of Califor-
ria, johnson of South Dakota, Jones
of Washington, Kendrick. Kenyon,
King, Kirby, La Toilette, McKellar,
McNary, Myers. Norris and Thomp-
son.
senator Kenyon said he was not
DISTURBED abou the financial condition
OF this country growing out of the
war.
us congress justified and is it do
ing its duty when it takes sums and
only ithe sums provided for in this
bill?" he asked Has the bill reached
the limit where it affects business?
If ii has, we should go no further"
IF limit has been reached 1t
would be hard to convince the Amer
lean people of that fact" he said, "es- I
pecially considering the tremendous
fortunes corporations have been and |
are making. The Dupont Power |
he said, made in 1913 a |
profit of $4,5S2,075 and in 1916, !
S2,107,693, which amounted to about |
l2G per cent on its common stock"
Wakes Sarcastic.
do you think you are making the /
people believe that you would ruin the
Dupont Powder company by leav-
ng them so per cent of their profits
IN their common stocl<?" Senator
Kenyon demanded.
"Oh, how enthusiastic that would |
make the people in this country feel,
who are paying taxes on coffee, tea
md sugar. The president with great
kill and credit is trying to take
Profits out of profteering. If the
Dupont company, with its enormous
NN0 '"' soy W 'he peoplc' II you
re going to stop us making these
Profits We are going to quit business,
'ou have got a man in the White
House who Is going to prevent it."
The senator added that he believed
hat business would do its duty in this
var and that he believed some sena-
ors We're doing more for corporations
han had been asked of them.
II am merely protesting against
What I term reasonable profits" said
he Iowa senator. Reasonable prof
IS and not reasonable profits should
e the rule during the war.
There Is no use in the thinking
len of this country playing ostrich
nd fooling themselves"