The New York herald., 1922-01-20
MILLER WANTS RENT
LAWS TO CONTINUE
Would Have Emergency Bills
Expire When Legislature
Is i'm Session.
TO RUSH N. Y. HOSPITALS
Tax Board Answers SaXe's
Criticism Of Davenport
Bank Measures.
Special Dispatch to THE NEW YorK HERALD.

Special Dispatch to THE NEW YoRK HERALD.
New York Herald Bureau.
Albany. Jan. 10.
The law under which localities are
authorized to grant tax exemptions to
stimulate building will undoubtedly be
extended for another year. The pro-
posal is being considered by the Legis
lature and Gov. Miller said to-day he
Is for it. The law permits the exemp-
tion from taxation for ten years of all
dwelling houses started before April l
last The Governor would extend the
time to April, 1923. and make the ex-
emption period nine years so all eX-
emptions would expire at the same
time.
II believe this to be reasonable, and
have so indicated to those who have
sought advice from me-" said the Gov
ernor.
Gov. Miller favors an extension Of the
emergency housing laws for more than
a year. They expire October /. 1929,
when the Legislature is not In session.
The Governor believes the time Of their
expirations should be during session
OF the Legislature so an extra session
would not have to be called in case
legislative action was needed.
A bill introduced to-day by Senator
Lusk and Assemblyman McGinnies to
facilitate the equipment of two hospitals
in New York city for sick and disabled
veterans of the world war will be
rushed through. The United States Gov
ernment now has title to these hospitals,
but under the law cannot complete the
purchase without consent Of the Legis-
lature.
Resent saxe's Criticism.
Both tho State Tax Commission and
Senator Frederick NJ. Davenport. chair
man Of the Committee on Taxation and
Retrenchment, raplied with show OF
| anger to-day to criticism made by Mar
tin SAKE, former president OF the State
Tax Commission, against the Daven-
port bills concerning the taxation on
national bank capital. They take par
ticular exception to Mr.. Saxe's state
ment the bills are contrary to State
policy.
A formal statement of the-commission
said the Davenport legislation was IN
troduced in an effort to save the locali-
ties of the state from losing millions
of dollars In local taxation Of national
bank shar4s as the result of recen.
decision OF the United States Supreme
Court. According to Mr.. Sake 1t would
mean the flooding of the State Treas :.
ury with 500 1000. 900 additional revenue
which could only tend to extravaganza
and useless expenditure"
Senator SAKE, we understand, Is
financially interested said a statement
of the Tax Commission, lin securing
judgments preventing the collection OF
the tax for last year and the recovery
of tax paid the preceding year. The
Tax Commission has taken part in pre-
pairing and having introduced in Con-
gress a bill which will prevent the re-
covery OF such judgments and will 90
everything In its power to secure the
passage of said bill. The tax in ques-
ton Is at the rate of I per cent. per
annum and has been paid by the bank;
for years without objections or pro
test s+
Suggests SAKE Draft Bill.
'Tf the former State Tax Commits
sioner now in private practice" said
senator Davenport, would turn his
talents toward the securing of a fair and
just amendment under which all banks
might be taxed similarly by the States
1t would not be necessary to enact the
State bill against which he has launched
the shafts of his fiery indignation"
The Davenport bill provides as fol-
lows:
MI ANNUAL tdN OI PER Centum
upon the actual value thereof as of De-
cember 81 in each Of the years 1920 and
1921 and December 81 OF each succeed
Ing year is hereby imposed upon the
moneyed capital of every private or in
dividual banker of this State and upon
the moneyed capital of every individual
citizen of this State, exclusive Of shares
Of stock OF banking associations or
ganzed under the authority Of this
State or the United States and shares
of stock of trust companies, investment
companies, insurance companies, busi-
ness corporations and any corporation
taxable under this chapter, which tax
shall be paid to the Treasurer.