The New York herald., 1922-02-11
Brooklyn Chamber Of Com
merce Passes Resolutions
Opposing Bill.
HEAVY BLOW TO THEATER
New Burden Placed ON Real
Estate, Brokers Say, Would
Halt Investments.

Opposition was expressed here yes
|erday by representatives of the in
tustries. affected to all of the levies
fgreed upon in the Ways and Means
Committee of the House to raise the
money for the soldiers bonus. In gen.
ral, the view taken was that the inn
position Of taxes to raise the 1929 9,00o,-
90 would delay business recovery in
definitely.
| Commercial organizations. theatrical
Producers. real estate operators, rep
esentatives of tobacco companies and
,thers were outspoken in their op-
position to additional taxes. OF par
icular significance was the statement
f ]. ]. Shubert that theatrical at
tendance in this city has fallen Off 50
'er cent during the present season.
A tay Of per cent. on stock and bond
ransfera by which it is intended to raise
e4. 100000, was opposed yesterday by
he American Bankers Association. l.
|. Mershon. department manager Of the
rust company division of the assocla.
Ion, sent the following telegram te
1an,r ers: I'M
Highly desirable prompt action be
|aken in protest against proposal by
chairman Fordney of Ways and Means
Committee to levy tax on stock trans
ers to pay the soldier bonus as unjust
Excessive and dangerous. and would inn
lose burdens on business already Sc.
erely handicapped"
Action by Brooklyn Merchants.
The E~coklyn Chamber of Commerce
IA exp essjng It's opposition, adopted the
following resolution:
Whereas the Government of the
United States has always adequately
|arcd for its disabled veterans and has
lready assumed its responsibility te
hose OF the late war by allowing more
han s3on. 1000 600 in compensation bene'
is. 10000 insurance claims. whose
Computed value would exceed $780,.
loo, 900. and the estimated expenditures
Or disabled veterans in 1922 Will ex.
eed $500. 100000, which expenditures
re likely to increase for years to come.
nd
Whereas we believe that the Gov
Irnment should adopt such constructive
leasures as will enable all ex-servic,
ben to improve their condition and give
1em an opportunity for economic indie
endence; and ss
Whereas the granting of bonu.
f.ill not. In our judgment, tend to insure
1is economic independence and will sc
Increase the national indebtedness and
le burden of national taxation as seri-
usly to impede the return OF norma
usiness conditions; therefore be 1t
"Resolped That the board of direc
)rs of the Brooklyn Chamber of Com
ierce express again its opposition te
ending cash bonus legislation, but II
,vor of national system Of reclama-
on Of waste areas with special op
ortunities to ex-service men to occupy
ich reclaimed lands, and a system OF
ocational training for all ex-servics
len who may desire to take advantage
K such training"
At the Offices of the Merchants Asso-
alton In the woolworth Building it was
ointed out that the association three
avs ago made public a statement de-
laring it's opposition to the bonus. or
ne grounds that it is unnecessary ant
nat IL would mean heavy expense
pom the Government.
Blow to Real Estate.
Lawrence Gilman of Pease & Gilman
40 Madison avenue. opposed the sug-
cstion that tax of SO a thousand be
vied on real estate transfers In order
raise 500. 0.c000 900. Mr.. Elliman said:
''In the last twenty years the tax or
sal estate in this city has increased 30o
ar cent. Twenty years ago there was
low assessment on real estate. so that
le tax was equivalent to about per
mt. OF the actual sale value. Now the
ssessment is nearly the market value
nd the rate is nearly per cent.
1T am Convinced that any additional
x would discourage further investment
real estate at a time when we are
ping our utmost to persuade investors
provide the necessary funds for more
,using. A serious effect also may be
Spected on possible lenders on mort.
ages"
An extra tax of 2 cents pound on
noking and chewing tobacco would in
le opinion Of the president of tobacco
,mpany. prevent any reduction In to-
acco prices for long time to come
sveral OF the larger companies have
ade reductions In the last year and
ave promised further reductions.
Walter Vincent. president of the In
irrational Theatrical Association. en-
acing manage from every branch OF
re amusement field. said: I'm the pres
Il state q patronage such an increase
ould wosf a tremendous injustice on
&c theaterFoer. II will present an In
,rmountable difficulty to the producer
ID will put many Of them out Of busi-
sss, thus crttirs down the Government
venue materially"
This same proposition to increase the
1post on theater admissions" said J. j
hubert. "came up once before and wat
sfeated as soon ss Congress was showr
NV 1t would effect an actual loss in the
listing revenues Of the Government
I'VE are facing now large decrease
business. and many of the smaller
anagers fnd II difficult enough to gel
ong with lessened patronage. Attend
1ce has fallen off so per cent. durine
e present season. due to various fac.
'rs. IT would fall Off still further witt
doubled tax on tickets. That would
the factor that would invalidate the
opposed tax and defeat its ends"