Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-10-16
MORE BuRsUM sLEIGHT- oT-HAND.

Under the heading "As People View It. is the
reply Of Mr.. Bursum TO our challenge that IT they
would open the records of the State Tax Commits
sion to inspection agree that if they do not dis
close that the Chinos assertaned net earnings on
output for the three-y period used as basis for
computing the l919 tax in excess of ten million
dollars per year, l will withdraw the Journal from
this campaign
Mr. Bursum is man. lie had no difficulty
apparently in getting access to the records in spite
of the law, which he had passed, which closed them
to us. We ask him whether he had an order
from the Chino waving this protection merely
abrogated a law which was his law anyhow and
which he could suspend at pleasure? Please answer
us, Mr.. Bursum,
Then he proceeds to show how genuinely honest
he is in dealing with the public. We said 'thc
three-year period used basis for computing the
1919 tax" Chapter 81 of the Session Laws Of 1919
says that the years 1916 1917 and 1918 shall be
as thar basis. Mr., Bursum trots out the figures
for 1917 1918 and 1919, knowing that the year 1916
will disclose amount in excess of $l2,0OO,OO
while 1919 shows only $l0,44O,000. He knew that
the figures for the proper years would prove our
contention We ask him now to use the same
sleght-of-hand with the law again and get us the
figures for 1916 We trust one will want us pro-
secuted for asking Mr.. Bursum to violate the law
again. He is apparently above the law. The creator
can do as he pleases with the thing created
Then Mr.. Bursum proceeds to show how close
his connections are with the CHlnO. he quotes us
figures of net profits copied from "the sworn re-
ports made to the Federal Income Tax Depart
nent" These reports absolutely secret and
could be had from source but the Chino itself
As we anticipated and told the public he begins
a bubble his words met profits, Moodys
g Manual authoritative compilation Of data OBJ
tanned directly from the corporation itself and pub
lished in cipher in order to maintain secrecy, in its
1918 edition, page 21iO, gives the met profits
of Chino for the years 1916 and 1917 $22344,492.
Ask your banker if Moodys is reliable. This was
what the Chino told the investing public its met
profits" we're We invite Mr. Sully to say that
Moodys Manual is not dependable. Chino has one
figure for the investing public, apparently, and an
other upon which it wishes to pay its taxes to the
government.
Mr.. Bursum fails to tell us whether this sworn
statement got by" with the federal department.
Understand US, do not accuse the Chino of either
perjury or a fraud upon the government. We
merely wish to say that what Mr.. Suy might think
proper charge against met earnings might
be held by the government to be capital invest
ment" These matters of bookkeeping too
intricate for the public, but Uncle Sam understands
them and his auditors take hand in deciding what
part of met earnings can go for new machinery,
buildings. lands Improvements. Development
prospecting depletion" etc, and what part is an
investment Of new capital
Mr.. Bursums letter shows that were de-
pendabe and that we did have reliable information,
We content to stand on the record, if Mr.. Bur-
is.
His suggestion that incur the expense of a
battery of auditors attempt to arrive at the truth
concerning some $50, 600 900 Of operations during
three years in question from Mr. Sully books, with
election day only two weeks away is rather rich.
II could not be done in two months and not then
without several thousand dollars of expense. We
assume however, that Mr.. Suy would consent if
Mr.. Bursum instructed him to do so.