davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09
Income Exempt
From Taxation

l. Proceeds of life insurance policies.
paid upon the death of the insured to indi
vidual beneficiaries to the estate of the
insured. ''
2. The amount received by the insured as
or return Of premiums under life assurances
and endowment or annuity policies
8: Property acquired by gift, bequest,
devise or descent
4. Interest upon state and municipal
bonds and Federal Farm Loan bonds
3. Income received from accident or
health insurance under workmen's COM
pensation acts, as compensation for sick
ness or injuries, and the amount of any
damages received on account of such in
Juries sickness.
6. Income derived from public utilities
accrulng to any state, territory or posses
sion OF the United States or any political
subdivision thereof
(. Salary or compensation received from
the United States during the present war
for active service in the military or naval
forces of the United States.
3. Interest upon obligations Of the United
States, or its possessions. and to the War
Finance Corporation, only to the extent
provided in the act authorizing the issue
of such obligations. This includes Liberty
Bonds of the first issue and income on an
amount of principal which is specifically
made exempt under the Liberty Loan acts
and the supplement thereto and the War
Finance Corporation act.
If any Of the items above enumerated
are enormously included in the tax.
payers return he will be assessed q
higher tax than he actually owes and
will have to file a claim for abate-
ment or refund in order to have the
proper adjustment made.
The exemptions which are provided
for under the new bill are, with few
exceptions. the same as those provided
for IN the act of 1916 as amended By
the act of 1917. Salaries Of certain
government officials, heretofore ex-
empt from tax, are subject to tax un-
der the new bill. On the other hand
amounts received from accident and
health insurance or damages received
on account of injuries or sickness. anc
salaries of persons engaged in active
service in the military or naval forces
of the United States are made exempt
from tax
Another very important change is
the exemption from tax of dividends Of
a corporation subject to income tax
when received By a corporation In this
case the dividends must be reported,
but are not taxed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09
Must Sell in
Order to Buy

but even If we wanted to get these
markets away from Europe-had any
use Tor them or advantage from them
as against the European markets-we
could not get them. Europe will have
to sell goods if it is going to buy goods.
II 1t is cut off from selling abroad, it
wall have to produce the things that
1t would prefer to import. SO long as
there Is advantage tc Europe in foreign
trade, so long It will offer the terms
o. exchange that will sell its goods
so long 1t will be able to make prices
that we cannot duplicate, offer a COM
petition that We cannot meet, leave it
better for US TO sell and consume our
goods at home rather than to market
them at so meagre returns abroad. In
snort, whatever new markets we get
and hold as against Europe Will merely
express the degree Of our misfortune
through the failure CT our European
market-the inability of Europe to buy
our products with its products. our
Necessity Of selling somewhere else on
less favorable terms
In actual fact, then, the conditions
OF international trade after the war
are not to be very different. for US
from those before the war. There
Will be little in the thing that will
be new for either good or i'll; but
Whatever there is of change will be
change for the worse. While Europe
has not been able to supply South
America with the goods that South
America would accept in return for
hcr wheat and hides, we have had the
privilege of selling goods to South
America with no attendant diminu-
tion or restriction Of the European
demand for our goods Europe was
buying or credit. We gave the credit
by which Europe could buy here. BY
our exports to South America we paid
for the goods that Europe bought
there. We as a csediting nation &C
cepted European securities to balance
the account. 1t was all good trading
for us-if only we had been wise
enough to contrive ways of giving
credit without involving ourselves in
monetary or credit imitation
Europe has, however, reached the
end of its isposition-and we'll nigh
OF its ability-tO purchase goods bv
piling up obligations. Europe must
and will buy its future supplies of
goods from abroad by selling goods
abroad. There is no more ground for
our expecting than for our desiring
that Europe is to withdraw from her
foreign markets either of buying or
Of selling, or is to open up new
sources of supply, or is to substitute
new customers in place of her old
1t IS, | think, safe to say that the
managers of American industries have
been under no delusions on this head
have attributed no great degree of
durability to this new trade and have
hazardcd few good dollars in the at
tempt to establish permanent trade
connections in additionally European
trade preserves. 1t will, at any rate,
be better for them in most cases if
they have not. They will meet i'm
possible terms of competition.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09
Livestock Growers to Meet

INDIANAPOLIS, Feb. S.-PIans lo'
national meeting of livestock gros,,
ers, to be held in Indianapolis Mars
20, have been made and invitstions !. y
attend viii be sent in few days ps
Governor James p. Goodrich TO hss.
lock associations In all parts OF Ias
country, il was announced here ~ ~.
night. Principal speakers at w
meeting will be Governor Lowden, o
Illinois; Professor G. |. Christie, ~,
sistant Secretary of Agriculture, sp'
Thomas Il. Wilson, Chicago packeH 4
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09
How Security
Exchanges Are Affected

POSSIBLY the most intricate questions
pertaining to dealings in property have
arisen in connection with the exchange
OF stock or other securities in the reor-
ganizasion, consolidation or merger of
corporations. Under the new bill il
is provided that, in such cases, when a
person 7sseives in place of stock or
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09
BY Morris F. Frey
lax Consultant Guaranty Trust Com
pany of New York

AaA NonSuifant Guaranty Trust Com.
pany of New York.
I I is essential that every one re-
d CURED to make return should be
thoroughly familiar with the classes of
income to which the Federal income
tax law applies. In this article. there
fore, will be shown what income must
be included in the income tax report
ard what income is rot only exempt
from tax. but should not be reported.
The law provides that gross income
which shall be reported in the case of
individuals, partnerships and corpora
tons, shall include all gains, profits
and income derived from
l. Salaries, wages or payments for nor
sonar services of whatever kind and in
Whatever form paid
:. Professions, vacations trades b,o;
nesses, commerce or sales. or dealings in
property, whether real or personal grow
ing out OF the ownership or use of or
interest in such property.
d. interest. rent, dividends. securities
or the transaction of any business carried
on Tor gain or profit.
4. Any other source whatever NOT snc-
clhcaily made exempt
AS may be seen from the foregoing
the description of income required to
be reported is most comprehensive
Inc pending bill, however, specifically
eXempts from taxation various sources
OF income, including
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09
Rec0nstrucH0n-andBe Beyond
Economist Believes There Will Be Little Change in
Character of Overseas Commerce. and That Trade
Won From Europe Will Be Balanced by Loss of
Trade With Europe.
Article VIII-International Trade Currents

[Note.-Yhis is the eighth of q
series Of articles IN which Pro-
lessor Davenport outlines has q1eacs
OF the future of security vala1es, IN
terest, international trade, gold
movements, avages, immigration,
shipping, taxation, real estate, etc.
The last article aciU be presented
neat Sunday.-Fmancial Editor.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09
Favows Railroad
Cabinet Official

Mr.. Rand, ~ he sat in mis- office,
completely surrounded by books and
pamphlets on railroads, was asked how
he would apply his theory TO the imnne-
date needs Of the country.
II would sincerely recommend" he
answered. shat The railroads be turned
back TO their owners for period OF ut
ieast FIVE years at the earliest possible
day. And ] believe that the railroad
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09
Railroading Still
Technical Problem

The acid test OF the value of any
system of management and operation
will be its ability to make the road
equal to the demands that the fast
developing business of the nation may
be expected to make upon it. Rail
reading is so much a technical problem
that theorizing on it by laymen often
leads to schemes that are delusive in
their implications.
E. NJ. c. Rand, who for seventeen
years was railroad expert for Russell
Sage, has been studying the railroad
question as his main task in life since
1878. Whatever his limitations NAV
be, he cannot be accused of failing to
see the intricacies of the problem.
He thinks about railroads in the terms
OF engines, cars, tracks and employees
OF all grades. Surveying conditions
OF railroads for forty years and digest
ing statements of earnings over a SINH
lar period have given a concrete turn
to his opinions about TRANSFORMATION.
MIR. Rand contends that generaliz-
ing about the roads, instead of treat
ing them as an array of varying prob
lens, has led to much confusion. When
The Tribune asked him what plan
nc had to contribute he reioined that
the evolution of a specific plan was
the job of Congress. Personally he
preferred to indicate an approach to
the solution.
Instead of setting out in rigid de-
tail" Mr.. Rand began, "the precise
wording of laws to be enacted at the
present time it might be helpful to in
dictate the three cardinal elements
necessary, not only to successful rail
reading, but in every fiduciary under
taking
Let the enterprise be of whatever
nature you may choose and weigh these
principles as applied to the problems:
1. Money
2. Credit
3. Power
men l say money | mean the real
article-worth 100 cents on the dollar.
or the unouestionable ability to pro-
duce it. When I say credit mean the
ability to produce 100 cents on the dol
lar 10 meet any and all obligations.
When / say power I mean the SUPPORT
Of every individual, high or low, to en-
able the carrying out of the under
taking.
Each element must be used wisely
and comprehensively if success is dc,
sired or If even existence is to be ex-
fected. Deprive your government, your
Undertaking or your enterprise of any
Of these factors, or misuse any, and in
evitable failure will be the result.
NO work in life, no government. has
ever been known to live and be carwed
on with full measure of success and q
return on the investment without these
cardinal elements. They cohere in
their functions. Their powers are in
terwoven and tend to produce one an
other
Without this correlation the struct-
ure or industry is bound TO sail. De
stroy one and you destroy all. If the
proposition is large the final destruc-
ton Is delayed, but ultimate failure
comes. II you take away or nullify the
constructive or supporting elements OF
either one you destroy them all.
AS the specific instances come up in
actual practice for the use Of these car
dinal principles, the executive ability in
charge should at all times exercise the
foot rule of quantity, both for the in,
come and ontgo in conformity with the
laws established by statute or by the
judiciary"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09

European products2 South America is
q producer and exporter Of wheat and
hides and wool--our natural competitor
rather than cur natural customor-the
natural customer of Europe rather
than ours, having the things to sell
tnat Europe wants and desiring TO buy
the things that Europe has 20 sell.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-09

Iudiciary.'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
$4,000 in Prize
Money Offered to
Six-Day Cyclists

The International six day race at
Madison Square Garden starting next
Sunday midnight, will excel all pre-
vious races in more ways than one. In
addition to the $50 900 in prize money
there Will be $500 in ''primes' offered
for sprints aside from the sprinting for
points which Will decide the contest.
The point sprints will take place daily
at $3.50 q. m and $50 p. m, five in the
morning, five in the afternoon and ten
at night, all sprints being two miles
apart. This is the most money ever
offered at siX-day race here.
The field will include more foreign
stars than ever competed in a six-day
race.
The American riders signed are
Goulet, Mcnamara, Magin. Hill. Han
ley, Lawrence. Kaiser, Kepsk Coburn,
Lang, Drobach, A. Spencer, Weber,
Keller. Medion, Carman. Chapman and
Thomas. The fore gners entered are
Egg, Dupuy. eVrri Belle, Brosco, Arets,
Chardon, Buysse, Spiessens, Tiberghein
and Beyl.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
ead-Lifting

Jerry Iravers, who was always sup
posed to exercise remarkable control
over MS golfing system, said one day
that he probably averaged four or FIVE
times round when it came to the
head lifting epidemic. "If can play
round and not lift my head on some
snoe yer % I times, | figure that
am lucky he added.
Il should say the golfer who plays
around 90 viii make this mistake al
least twelve times on q round"
We have seen many OF the best
golfers in the country break, at certain
stages of hard match, before this
fault.
The harder the match, the greater
the temptation to lift ones head and
observe the result of the stroke
Bat kvans's mistakes rarely come
from this fault. He IS IA marvel at
keeping his eye focused upon the
bull until it leaves foY a far journey
TO some other spot. His stroke $
well completed before his eyes are
lifted to note the result
This accounts largely for the fact
that he is rarely IN the rough, is
rarely trapped and is very rarely more
than a few yards of the line This.
too, accounts for big part Of his
smoothness and rhythm, for nothing
destroys proper timing quicker than
"A lifted head that always lmparts II
sudden jerk and disp.aces the club
mead from its correct zone
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
His Main Asset

But there is at least one depart
ment where Evans surpasses the field
with even a wider margin.
We refer here to the way he keeps
his head still. without q senblance OF
a lookup, until the stroke is COM
pleted.
Through this season we have seen
Evans play at least 900 or 700 varie-
ties of strokes, from the drive to the
short putt. And in all that varied as
sortment we have no recollection Of
seeing him once take his eye off the
ball before the swing was completed.
From the long shot through the
green to the delicate pitch up to the
pin over some trap, he maintained
perfect control of his head movement.
On one occasion, at Braeburn, when
he was still close in the running, he
had a 30-yard niblick pitch to make
over deep trap. The ball was lying
badly where only supertine attempt
would get it out. The temptation to
look up quickly here and note the
result must lave been unusually
strong, but Evans was still looking at
the divot he had taken when the ball
struck the green with fine backspin
about four feet from the cup.
If ever golfer was tempted to look
quickly for the result of a shot, Evans
was the man in this case. But he had
no fatal curiosity to show. He seemed
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
Mike Gibbons Announces
Retirement From Boxing

ST. PAUL. Mimi. Nov. 22-Mike Glib
bons the St. Paul phantom. to-day an
nounced through The Associated Press
that he has decided to retire perman-
entity from the ring. Gibbons, who is
wealthy said he to-day gave his prom
Use to Mrs. Gibbons that ne will never
again participate in a ring battle.
Gibbonse issued the following state
ment:
For a long time Mrs Gibbons has
urged me to give up boxing. ! realize,
of course, that might stay in the game
for little while longer, but ! have
decided that such a course would not
be practical. This is to announce my
permanent retirement.
~ feel quite certain that ring ex-
perts will admit I outboxed O'Dowd
and that l kept my promise to fight
the champion all the way My plans
went WI, ng after the cut over my left
eye was opened and also after / in
iured my right hand"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
IA Games OH Pratt
Institute Court Schedule

Pratt Institute will open its basketball
season on December in game against
the Brooklyn Polytechnic Institute five
on the home court. The Alumni will
c'ose the season on March 10. Four
teen games include the schedule, which
was announced yesterday by Coach
Brown. Only one date is open. Con-
tests are included with Wesleyan,
Tufts, Ursinus and Massachusetts Ag
Gies.
The schedule follows:
Decc1nber : Brooklyn Polytechnic, AZ
Pratt. December II. ST. Johns College, at
Pratt January .. Sprinfeld Y. NJ. G. a.,
at Pratt: january l6, Junieta at Pratt
January %. pending January 80. UrslnNs,
al Pratt February G. TUFTS. at Pratt
February -. Tufts. at Medtord, February
49, Massachusetts, Agsies at Amherst; Feb
ruary a. New York state. at Albany
February 90 Massachusetts, Aggies at
Pratt: February u. Wesleyan. at Pratt
March g. New York State. at Pratt; March
l2 Polytechnic. at Polytechnic; March 10,
Alumni, at Pratt.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
Bowie Results

FIRST race (wo-ycar- one mile)-
Herd Girl. los tEnsor). $3.50 $3.50 ana an,
$3.50 place. sac show. second Gain De
Cause, 100 (Thurber) $500 show third.
Time, l:44 IS. Bright Gold. Oriental
Park. Rockaree, Z. 5. Grayson and pirate
Second race prince George Junior Han
dicap: twoyear-olds: seven furlongs)-
Kings Chamrion. ia Johnsonl. s56 40
sl4sO and 500 won; Siren Maid lld
(ButwelD, $3.50 place, $3.50 show. second
Rubidiun. % tWiener). $40 show. third
Time, ! :2s 2-5. Carmandale. Sandy Beai
Mock Orange also
Third race Uhe Oriole Handicap: al
ages six and a half furlonss>-Tiags l2S
(Ensor), $3.50. $3.50 and 20, won Old
Rosebud. l22 lAlcCabe). $3.50 place, $2.6C
s250 show. third. Time. 1:20. Rapid Day
Day. Grimalkin. Passing Shower also ran
Fourth race Uhe Capital City Handicap
all ages one milel-slippery Elm. los
tJohnson). $500. $40 and $3.50. won
opheIa. I'D lRice), $3.50 place. $50
show. second; Tetley. 80 twelner,' ss,s'
Crank. Duchess Lace also ran.
Fifth race Claiming; all ages: one
miie}-warsaw; no Gohnson>, sla. 10 Q
(Wiener>. $3.50 place. $3.50 show. second
Queen of the Sea. lo7 (McCrann). Sc 81
show. third. Time. l:4a rs. whimsy
The Decision, Sim Feiner, st. 1sidor. sun
Dial H.. The Desert also ran.
Sixth race Claiming; three-year.olds
and upward one mile and "a sixteen,h) ,
Nebraska. 10S Johnson). $3.50. $3.50 and
$3.50 Won: Refugee. los tEnsor>, s7.7(
place. $3.50 show. second; Ben Hampson
li3 (Rodriguez). $3.50 show, third. Time
! 81 rs Meliora. Rockport. Golden Glow
Comacho. Blue Thistle also ran.
Seventh race Claiming; three year- Ids
and upward; mile and sixteenth)-Arbi-
traitor. 10s (Jackson), 5000. $500 and
50. won; Fairy Prince, 1o2 (Ohert), $20.7t
place. $3.50 show, second: Cabalo. 81
tWeiner). $3.20 show. third. Time, I: 52
Capital City. Indian Chant. Jacnetta
Mackenzie. Bajazet, Hope. Edith Baunian
| Tit for Tat, Algardi also ran.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
Princeton Teams
Down Yale i'm All
Sports This Fall

PRINCETON, N. j. Nov. 22.-One of
the greatest fall athletic seasons that
Princeton athletes have ever enjoyed
has just come to a close. The chief
pride in athletics at Old Nassau in
regard to sport this autumn lies in the
fact that the Tiger athletes have de-
fcated Yale in every branch Of sport,
including football. Football. soccer,
cross-country, freshman football sea-
sons have all come to a close with the
Tiger on top. Even the chess team
varsity football game.
Captain McGraw's varsity eleven
with its score OF l3 to 6 over Yale a
week ago was the outstanding vic DRY,
and in dispelling the "Football JinX''
that has pursued the Orange and Black
in the big three games has probably
done more for athletics at Princeton
than any amount of coaching or of
minor victories. Princeton needed to
win the Yale football game and needed
to win it badly this fall if Old Nassau
in sport few years before the war.
The tied score with Harvard on No
vember Is did much to bring back
confidence. not in the fact that Prince
tons teams would put up bitter fight,
for they have always exhibited that
characteristic, but that the Tiger would
win.
Princeton's soccer team defeated
Yale by margin of one goal to none,
the cross-country team easily defeat ed
the Blue barriers over the five nile
course at Princeton. three Princeton
runners finishing in the van with q
team total Of 10 to Al. and the Prince
ton yearling team defeated the Yale
eleven by score of % to 3.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23

In the course of the past season we
have seen Chick Evans play at least
twelve rounds of golf over various
courses through the United States and
Canada.
Through the open cham ionship, the
amateur championship and many ex-
hibltions he gave many opportunities
for close study of his game, down
to the smallest detail of his play.
Evans has been described as a won
derful machine. The smoothness and
rhythm OF his wooden club play, the
crispness of his iron play, and the
ease with which he brings off various
shots are all we'll known. No wonder
that as a master mechanic of shot
making Harry Vardon rated him az
the top.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
Rich1nOndHillI'ea1n
Leads High School
Chess Tournament

Richmond Hill moved into the lead
among high schools competing for the
championship Of the lntcrborough High
School Chess League by defeating
adjourned, az the Central Y. NJ. c. A.
in Brook n yesterday, where the other
five matches of the fourth round were
also contested.
Boys High, league champions, won
again, defeating Curtis by 21s to u
Morris won from Eastern District by
8 to ! and Evander Childs won from
Stuyvesant by 2 Il to y. The Town
send Erasmus and Commerce. CONNER
cial matches remained unfinished.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
Miss Leitch vs.. Miss Stirling

1t may be that some, one could figure
out more interesting golf match than
a meeting between Hiss Cecil Leitc
of England, and Miss Alexa Stirling
of Georgia. but we doubt it.
One is supreme in Great Britain.
here.
Both can play almost any course in
the low sos and both seem to be at
their best in championship tests.
Physically, they are quite unlike
Ms Leitch has the strength and
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23

WiLLIAMSTOWN, Mass. Nov - a
soccer football eleven Wi represent
Williams College during the rcma inder
of the season. for the first time IN
several years. 1fe class sris. which
Was won by tho sophomore brought
out some iine material. and Will. t IS
too late to book games with many col
lege opponents. it rs planned to oppose
several ndepe ndent % ms n this sec
uon. preparatory 10 piay ng "a regular
schedule neat falt.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-11-23
s'Strangler" in Match Here

A series of wrestling matches will
be held at Weidner's Columbia Audi.
torium, Richmond Hill, Tuesday night
The principals in the feature event
will be Ed "Strangler") Lewis and
Stanislaus. the Russ Poland giant. The
semi windup will bring together Young
Hackenshmdt. the Bavarian Tiger, and
United States Cavalry. George Both
ucr will referee the bout.