The daily banner. (Cambridge, Md.) 1897-2008, 1921-11-17
NEW SljRTEY RITE
UPINH ()lJSEIUDA1
Change in F|gHr's C}0sjz2.e.
Issue Of Revision I'll
COMPROMISE is EXPECTED
Conferees Will Consider Other "Higi1
Spots" Including Booze Levies-Hit
Parcel Post Excise.

Washington. Nov. LITTLE big issue
in the tax revision hfll-the senate
amendment fixing the maximum sur
tax rate at % per CENTS to come to
vote today in the house.
Spokesman for the ''inSurgenf" Re
publicanS and the Democratic minor
ity express confidence they can must
err the necessary votes 10 keep The
high rate in the bill While making
no predictions. Republican leaders
genrally were hopeful there would be
Il compromise ultimately between the
senate rate and the house rate of 50
per cent, probably around 40 per cent.
Chairman Campbell. of the rules
committee. said the vote would he
under rule limiting debate 10 two
hours ana inSurin% Il decision on the
Straight-cut issue of accepting the
senate amendment. This was request
ed by the leaders of the "inSurgent
group, who said they did not want the
issue confused with a motion first to
instruct the conferees to agree on a
maximum other than the 80 per cent.
Should the proposition To accept the
senate amendment be voted down, The
house then could agree on Il compro-
mise figure or permit the cOnfereeS
to resume negotiations with senate
managers without further inStruC-
lions
After the house has expressed itself
on the SurtaX amendment. the con-
ferees will proceed to dispose of the
other thigh spots" in thte bill which
include the corpora ton income fax.
The increased estate tax. the tax on
gifts of property, the lcvieS on medi-
cinal beer. wine and whisky. the re-
peal of the $4,000 normal exemption
to corporations except where the cap
ital stock is $4,000 or less. the treat
mont of insurance companies other
than life. and the amendments dcfin-
ing capital gain and loss.
At their sessions the conferpeS
agreed to senate amendments striking
out original house provisions for the
exemption from the income tax of in
come received by foreign traders and
foreign trade corporations from
sources outside the United States 1t
was understood the cOnfereeS would
accept the senate provisions designed
to place Americans doing business in
the Philippines and Porto Rico on n
par with foreigners in those in>uIar
possessions 50 far as taxation is CON
cerned.
al t1,fN
senate amendments repeating the tax
on parcel post packages and on bonds
of indemnity and surety. Another
senate amendment accepted, provides
that if corporations issue capital stock
at value of less than 500 Il share,
the fax shall be one cent on each $40
of tie actual value or fraction there
of. The present law imposes Il tax of
five cents on each 500 of stock. IT.
respective of the par value of the
shares issued.
Other senate amendments accepted
included those re-enacting provisions
of the existing law imposing taxes AT
the present rates on:
Capital stock OF corporations.
Brokers, proprietOrs of theatres, cir
cuses, bowling alleys, billiard rooms,
shooting galleries, riding academies.
persons operating or renting paSSen-
ger automobiles, brewers, distillers
and wholesale and retail liquor deal
ers.
Manufacturers of tobacco, cigars
and cigarettes, dealers in narcotics.
On the employment of child labor.
pleasure craft.