The Washington times., 1920-01-02
LOCAL FINANCIAL
and BUSINESS
GOSSIP

To meet the growing uemdHu TOT
information on the income tax laws
and their application to individual
returns and the reports of corpora
tions, the Washington chapter of the
American institute of Banking, under
the leadership of Victor Il. peyher.
president, will inaugurste a series
OF lectuIes on various phases OF in
come tax.
Special lectures will be delivered
by experts on income tax before menu
bers OF the classes OF the Wash ing ton
chapter. but they will in no way cen
fict with the regular lectures that have
been outlined for 1920. The series Is
an innovation as regards the work of
the local chapter, and it is expected
the lectures will prove popular with
all bank employees. thorough uh-
derstanding OF income tax laws has
been a long-felt Nneed among mPny
bank clerks, and The series is aimed
toward divesting the laws of much
OF their confusing legal terminolcSy
and making them plain and under
standabIe.
Spe~r Among SpeskerH
Among the speakers will be L. Il.
Speer, former deputy commissioner
OF internal revenue, now q member
of the Corporation Trust Company.
of New York. who will deliver the
first lecture January I on "Reviaw
of the Present Rulings OF the Income
TAX"
c. 3. Hurrey. present deputy COM
missioner Of internal revenue, will
talk January II on The Function OF
Banks In Relation to the Collection
of Income Taxes" Mr.. Hurrey's lee
ture will be supplemented with a talk
by p. s. Talbert, chairman of the
committee on reviews and appeals OF
the bureau of internal revenue, on
Changes In Income Tax Rules"
Robert V. Fleming, assistant cash
Ter of the Riggs National Bank, and
recognized expert on income tax.
will deliver the third lecture January
81 on individual Income Taxes and
How to Handle the Customer"
other speakers will be announced
later by Mr.. Deyber. 1t Is expected
that tho series viii include I'VE or
six lectures
Tax Blanks Resdy Monday.
In answer to the numerous inGuir-
les received by local banks as to the
date for distribution of income tax
blank forms. c. B. Hurrey, deputy
commissioner of internal revenue,
said today that the forms for individ-
ual returns would be available at
viding that the conditions at the Gov
ernment Printing Office would not
further hold up the printing of such
forms.
IT was expected TO have the forms
ready for distribution today, but
owing to the delay in the shipments
of print paper, the printing was de-
layed. The forms for corporation re-.
turns will not be ready until the mid
die of next week.
Clearing house receipts for the
year 1919 totaled SS14.46c,04l. or
nearly 500, 100000 more than the re-
ceipts for 1918. The 1918 receipts
aggregated s71tsoo179 Divided into
months the receipts for 1919 on an
average amounted to s67S71,S36 as
compared with, the monthly average
of s59.57i.1St for 1918.
Undoubtedly the most prosperous
month of the year for Washington
merchants was December, clearing
house receipts for which amounted to
SIS, ,o36,o53
The first session OF the new year
on the Washington Stock Exchange
was rather inactive. Washington Gas
5 bonds sold from ss to S9h Wash
ington Rnt'way preferred was steady
at SO, and Washington Gas was slight
ly stronger at i6. Eight shares OF
Mergenthaler sold today at 1s5L.
IODAY'S SALES.
w.shtnoton Gas Hs n noos,eot1