The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-11-28
TAX PROGRAM
DISAPPOINTING
To BUSINESS
BY HENRY CLEWs.

New York. Nov. 27.--Adoption OF the
tax hill by congress settles the long
sanding issue OF the relation OF business
10 the fiscal activities OF the govern
ment for tho coming year at least. u
is not much to say that the outcome
has been a severe disa ppointment to tho
commercial community. Members OF
congress themselves evidently feel the
greatest .n!sg!v!ngS with reference TO
what they have done. There Is q mani
fest and growing body OF sent-
mert m favor Of either the sales
,eI or some similar plan OF
taxation, and this Is taking form In
the proposed visit OF body or con-
Vressmen TO Canada for the purpose or
looking into the actual working or tho
sales tax in that country. The revenue
adjustment, such as Il Is. IS obviously
temporary. and II Will probably be only
a short time before further revision
must be made Suggestion that new
ard extensive taxation for the purpose
Of paying soldiers bonuses IS hkeIS 10
he imposed has naturally called forth
sharp disagreement and objection.
Finance and Business.
EIport figures made public during
the week show An advance IN our raNor-
able balance OF approximately *lVeVo'-
600 for October Much OF this advance
was due 10 enlarged shipments or COTTON
at higher prices, our manufacturing e@
ports revealing only moderate I'M
provement IN certain specific lines Inc
volume Of domestic production now
ever, continues To Grow IN staple !hais-
tries. not merely steel End iTon Dut II
variety OF Others including building ma
terials enlargiDg Their output. lno
close Of the agricultural season makes
Il possible To estimate With some de-
gree OF accuracy the outcome or me
wears transactions II has one INC
whole been fairly prosperous a8ricuI.
tural year Good crops In n number OIL
countries. Coinc!dtng with ours nave
however kept prices low. so that the
farmer Is in difficult position IN many
parts or the country owing TO the fact
that the manufa ctured goods he puNs
have not fallen in proportion 10 his own
decline Of prices. Realization by the
farmer Of the proceeds OF his crops and
cancellation OF his loans at banks here
resuIted I'm a great reduction OF reds.
counts and sharp movement or Tree
funds TO New York and other fin?ncia!
centers. This movement Is response o!e
for the IA Hing or Of interest and Tor
the greater abundance OF available sup
plies OF money One outcome In proving
70 be that Of facilitating new financing
in q much GREATER degree than hitherto
Market Review and Outlook.
Most stocks have continued 10 display
inherent strength on light transactions
A great part Of the flow OF business
has been between traders who entertain
opposing views ~ TO the immediate
future OF the market. Reluctance 10
make fresh short commitments has
however. been shown, Il having been
demonstrated that TN" market Is not
well supplied with stocks and that any
concentrated buying movement easily
brings "A rally in prices. Under the cir
cumstanccs II Seenis unlikely that the
general level OF prices will suffer any
retroErade movement OF Importance. ms
rlonty OF buyers appear whenever stocks
are offered at moderate recesStons. As
a matter or tact. nine stocks out or ten
arc stl'l cheap. ascd on the better trade
outlook. the more courageous attitude
Of the buying public and the vastly i'm
proved credit situation.