Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-05-05

Tho government has started with the
CONSUMPTION OF material industries and
promises to continue. and will. before
long. extend its control to the man
power now employed in many useful
and important Industries not absolute
ly essential to the business Of the hour.
The automobile industry was the
first to feel the grip of Uncle Sam.
but about the same time the great iron
and steel business was practically
Communicated by the government. and
through this operation many other
lines besides iron and steel must
naturally curtail production.
From ono big automobile plant 5000
tons Of pig iron were taken and shifted to
The curtail Of production Of auto
mobiles is not the only way the indus
try is hit. for the production OF tires
must be greatly reduced. To save
in at a yearly rate Of 22s.ooo.oo0
pounds. as against 405.000.oo0 pounds
in 1917.
Three big producing automobile con.
Germs have their stock listed on Wall
street, and the shares are quite active
in the daily operations. General Motors,
Willys-Overland and Studebaker: The
business of these companies will be cut
just ABOUT 0U per cent from INC tWO
best years in the business.
Other non-essential industrial cor
porations will certainly fnd their ac-
tiv:ties curtailed in the near future. As
the government continues to draft
not only soldiers. but other man-power
for the prosecution of the war and the
Industries connected Herewith.
Shipping Silver.
In the near future 15.000.0oo ounces
Of silver will be shipped to the CAL
cutta mint in India. and a little later
10. 100000 ounces additional will go.
There is story going the rounds now
to the effect that Germany is buying
American and English money in
Switzerland and Holland. If the story
is true 1t Is accounted for by the fact
that the people Of the Ukraine will not
accept marks for their produce.
Drawing Down Cash.
federal reserve banks will make heavy
drafts on deposits in banks to the credit
Of the Treasury Department.
The prosecution OF the war, the heavy
purchases Of material. etc. are making 1t
necessary that the Treasury be replen-
ished. Liberty loan payments also will
begin flowing into the Treasury this week
with the first payment Of per cent Of the
total subscription.
AS stated before. the liberty loan pay
ments are not likely to cramp the banks
Of the country during the current month.
as millions Of dollars worth Of bonds
bought outright for cash will not be paid
for by the banks until the various in
etallment periods mature.
The middle Of June will see the begin
ming Of hardening Of the money market.
unless in the interim 1t is finally decided
to permit the payment Of income. war
taxes and excess profits in installments.
No official statement has yet been
given as to the amount Of the intangi-
BILE tax that the people Of the District
will have to pay during May. and one
guess would be as good as another. 1t
Is known. however, that the amount
far exceeded the anticipations Of the
widest estimates made by the experts
Of the tax collectors ONCE and also of
the author of the measure.
Real estate taxes have been esti-
mated at $6.000.000.
The District Bankers Association has
made application for the usual rede-
posit of about 100000 tax money in
the national banks of the city and ex-
poets that the usual courtesy will be
granted. although no official announce
ment has been made as yet.
It might be a comparatively easy
matter to estimate the Intangible taxes
of holders Of local securities, but
Washington investors have large
amounts Of outside securities in their
strong boxes.
It remains to be seen whether the
satisfactory to prevent digging for fur
Their returns by thes tax collector.
1t will also be recalled that money on
deposit Tin savings banks over 5000 Is
also taxable under the intangible tax
law.