Evening star., 1923-01-23
MORE WORK NOTED
AND HIGHER WAGES
Labor Department Reports
for observation-disclosures Tax
RuIings-Notes.

A general increase in employment
with a corresponding rise in wages
took place in December. according
to the Department Of Labor. This in
crease is regarded as a most hope
full sign, as employment usually
slumps at this period of the year
A general increase of "a per cent
In the number of employees and of
3 per cent in wages over November
is shown in December by the report,
which is based on investigation In
forty-three manufacturing industries.
Increases in the number of employ
cs in December are shown in thirty
three of the forty three industries,
with decreases in the other ten. Pay
roll changes are shown in the same
ratio. thirty three increased and ten
decreased.
Pottery, owing to resumption of
work after settlement of the strike,
showed the greatest increase in en-
ployment, 2a.9 per cent, ana the
greatest pay roll increase was in pot
terry establishments, 25.7 per cent Az
ricultural implements followed with
1874 per cent.
Income Tax Rulings.
The Treasury frequently reverses
even it's own decisions, and the ERECT
Of these changes upon preceding re-
turns is a matter of great Importance
to numerous taxpayers. On this point,
r. IT, Montgomery in his manual, IN
cu,ue Tax Procedure-1923, says:
Treas sury interpretations are merely
interpretations. Therefore. If the
courts decide that the law means some
thing different from what the Treas
ury has held il to mean. the rulings
must he reversed and redress granted
or, additional levies made back to the
date of the passage OF the law.
Section 1874 permits the commits
Soner TO apply new regulations With
out retroactive effect. Prior TO ls2i
the commissioners assumed that
changes in regulations automatically
became retroactive to the effective
dates of the laws to which the regu-
lationS were applicable.
IF the Treasury should issue regu-
lationS interpreting section OF the
law and later should change the inter-
pretation by subsequent regulations,
tan payer oVerpaying a tax under the
first Interpretation can force a retro
active application of the latest regula-
tion. If the commissioner objects, it
would be necessary to institute suit
Deposits Increase.
The deposits of the Northwest Saw
ingS Bank have increased more than
100000 since the last call statement,
giving AN increase Of that amount
during the year. according to Il state
ment issued by the institution today.
W. u. & T.. Dividend.
Directors of the Washington Rail-
way and Electric Company have de-
Clared their regular quarterly divi-
dend of | 4 per cent on the preferred
stock of the company. it is announced.
The quarterly disbursement is made
payable on March ! to all stockhold-
ers of record on February Z.
International Finance Election.
The recently elected board of direc-
tors of the International Finance Cor
poration organized yesterday and
chose the following officers to serve
for the ensuing year: Ernest u. Her
rell, president; Ben L. Prince. vice
president: w. L. Bachelor, treasurer:
~ G. Lampe. secretary. and David P.
Smith. assistant secretary and assist
ant treasurer.
Offers Prize for Chapter Work.
Announcement was made yesterday
by the clearing house committee of
the Washington Clearing House As
sociation that Il prize of $50, to be
known as the Washington, D. c.,
Clearing House Association prize, is
TO be offered for certain work in the
Washington Chapter, American In
stitute of Banking,
Harry V Haynes. secretary of the
association, said the prize may be
awarded TO an individual or individ-
uals. in or out Of classes. The work
work might. because of it's outstand-
ing prominence, make him eligible'
for the prize.
r. n. Harper to Entertain.
Robert \. Harper, president of the
District National Bank. will enter
tain the directorate and the entire
force of the institution at a dinner
at the Hamilton Hotel Saturday night.
The affair has become an annual
event with Mr., Harper, and at the
dinner affairs pertinent to the Dis
trlct National family are discussed.
Mr.. Harper will preside.
Personal Mention.
George o. Watson, president of the
Liberty National Bank, has been con-
fined TO his home with d cold for the
past two days.
WESTERN phN 0[[|rlhI G