Evening star., 1922-04-30
FINANCIAL INTERESTS ARE
CONFIDENT AS TO OUTLOOK
Believe Easy Money Will Continue and
Higher Prices for Securities Prevail. 2
Budget of News

This gives net operating income as
follows: March, 1892. $98.664. as COM
pased with $ss.ss7 in February and
$S3,0S1 for March. 1924.
Planning for Entertainnent.
W. W. Spaid. chairman Of the enter
tainment committee Of the District
bankers Hot Springs convention. Is
In making arrangements to spring q
pleasing program on the guests at the
convention. He doesn't talk much
about 1t, but from a hint here and an
other there. 1t may be taken as q
fact that Mr.. Spaid will put over a
did at the recent stock exchange din
ner.
AS an impressario Mr.. Spaid is
exacting. experienced and high class.
Certainly Not Right.
number Of leading citizens are
serving on the jury, doing their duty
for a six-month term on the grand
jury.
MY term will be over with oc1o-
oer. said Ernest H. Herrill. vice
president of the Merchants Bank and
Trus, Company. "Mine. too" said
Eugene e.. Thompson Of Crane. Par
ris Co.. "and there are others in the
same boat" For six months they, are
answerable to roll call-7othep busl-
charged AGAINST service-which may
be all right II necessary. but why
make 1t six-month turn?
Why not sixty days or three months
at the longest? Six months Is an out
rage. and business men taken from
sent it.
Some action to change the method
OF jury service is suggested.
Dividend Checks Mailed.
The International Finance Corpora
ton mailed yesterday dividend checks
covering the regular semf-annual
dividend of Az per cent on preferred
stock. and q dividend of 81 a
snare on common stock, to stockhold-
ers OF record March 81, 1929 Two
thousand Of these checks were mailed
TO residents of Washington. the bal.
ance going to outside stockholders.
II is reported that in addition to
carrying a portion of its earnings as
undivided profits. the corporation has
set aside from earnings q substantial
sum as a reserve against possible fu-
ture losse.a The officer plan to estab-
ltsh reserve against possible losses,
which will be in Keeping with the
growth of the corporation.
A. b. A. Council Meeting.
y The executive council Of the Amer
lean BANKERS Association will be held
May Z.
The first two days will be devoted
to conferences of the various divis-
ions. sections and committees.
Tuesday. May 8. an educational
noon: John II. Puelicher. president
of Marshall & Ilsley Bank, MiIwau-
kee, Vice president of the association
and chairman of its committee on
public education. will preside. The
afternoon of Wednesday. May 10.
postum presided over by Joseph
Hirsch. president Corpus Christi Ma
tfonal Bank, Corpus Christi, Tex. Mr..
Hirsch is chairman of the agricul-
tural commission of the association.
The mornings of Wednesday. May
10: Thursday. May II. and Friday,
May II. the sessions Of the executive
council will be held Wednesday.
May 10. the council will be addressed
by j. r. Howard, president OF the
American Farm Bureau Federation,
and on Thursday. May IL. by d. r.
Forgan. president of the National City
Bank OF Chicago.
Thursday night a family dinner
Will be held. The toastmaster will be
Thomas B. McAdams. vice president,
Merchants National Bank. Richmond,
Va. and president OF the American
Bankers Association. Tho speakers
will be Charles F. Moore OF New
York. John J. Cornwell. former Gov
ernor OF West Virginia, and DR.. Alex
ander Irvine OF New York.
Simplifying Tax CelleetisAs.
come tax unit. the result of which,, it
is believed, will be OF immediate
benefit to taxpayers and the govern
ment by providing more expeditions
methods of audit and review. and the
handling Of claims and assessments
were announced yesterday by the bu.
real of internal revenue.
The changes wore adopted by Com
missioner Blair on the unanimous
recommendation Of the tax simpiifica-
ton board. which consists Of ]. II.
Beal.. chairman; ]. E, Sterrett and ".
T. Abbott. representing the public.
ana z. T: Smith. @. W. Skilton and
bureau
The assistant deputy commissioner,
In addition to his present duties. 10
given the duties OF production man
ager. The production manager will
be responsible for the mechanical
both bureau and field. He 10 directed
to devise and install q suitable and
efficient system Of production records
and an efficiency rating system to be
used In lieu OF tho individual EN-
cheney rating system until recently
in effect in the audit sections.
He will be responsible for main.
tanning a constant and equitable fiow
of work to and from the audit sec
tions and the field force, and will have
authority to shift personnel, either
clerical or technical. as the work
conditions may require. but without
In coniunction with tho a,v,,,o,
heads ana section chiefs It is direct
ed that the production manager shall
formulate plan OF Uniform applica-
tfon subject to such notifications as
may be necessary to meet exceptional
closer contact between officers and
a mere definite and ac-
curate knowledge on the part Of SD.
perior officers Of the extent. character
and quality Of the work performed
in their respective divisions, sections
an and subseetions and the elimination
The STAFF division, which consists
of the personnel, training. proving
and personnel research sections, is
placed under the immediate direc-
tion and control Of the production
manager. The production manager
the deputy commissioner in charge
OF the income tax unit.
The inventory section Of tho spe-
cial audit division is abolished and
the personnel Of this section 10 trans
ferred to audit sections. where their
services may be needed. The review
division also fs abolished and the
present method Of review In the audit
sections Is discontinued.
An Independent review section 10
established in every audit division to
report Immediately to the head Of the
division.
II is ordered that mo case shall b
refnrned to thu fAld for fnrthAe in..