The Birmingham age-herald., 1924-03-13
SOLONS CUTTING
 DOWN BUDGETS
Retrenchment Bears On Minds Of Mississippi Legislators
 In Session

JACKSON, Miss, March 12.-(Spe. cial. .)-While the Senate was engaged in all day debate on the income tax bill passed by the House last week the lower House was grinding away on ap. propriatien bills and making rather slow headway because of. the constant attempt at saving on the budgets of various institutions.
 The critical stage in financial legisla- tion is being reached. If the income tax bill fails in the Senate or the gaso- line tax bill meets with defeat in the House, it will force the legislature to go back to direct methods of taxation. Senator Carl Marshall took the finan- cial bull by the horns, so to speak, ill the Senate this morning, by introducing a bill fixing the state tax levy at ten mills for the next biennial period.
 At the afternoon session of the House the Senate bill authorizing crea- tion of fire insurance rating and in spection bureau was up for passage.
 Supporters of the bill seeking to au- thoriZe Greek letter fraternities in the state educational institutions are clam bring for right of way for that measure which has already passed the Senate, and it may be reached on Thursday.
 New Charters Issued
 Two amendments to charters of ex- isting concerns recorded in the office of Secretary of State Joseph w. Power. Monday increased the organized wealth of the stated $250.000. On the same day, three new charters carrying cap ital stock of S10,000. $30,O00 and $10,- GOO were recorded. One American Leg ion Post was incorporated and an amendment made to the charter of the McComb bank. changing its name. The Lann-Carter Hardware company, of Aberdeen. was given first place in the amount of new capital, it's capital stock being increased to $150,000 The Wise company, of Hazelhurst added $110,000 to it's capital stock. A new furniture company for Jack son was given permission to operate as corporation when the application of the Tripp Furniture company, capital ized at $10,000, was approved. Other new charters included the R. G. Gaddis company of Laurel, capitalized at $30,- GOO and Chandlers, Incorporated, In dianola, $10,000.
 Sue Oil Concern ...
 Suit in equity has been filed in fed eral court by c. c. Wilson, and Arthur T. Vanderbilt, receivers for the South. ern Cotton Oil company, against the Resege Cotton oil. a subsidiary. setting forth that the defendant company was indebted to the plaintiff in the sum of $700,000 and asking for the appoint ment of a receiver. At the same time an answer to the suit was filed by the Resege company, with holdings through out Mississippi, agreeing to the appoint ment of seceivers. Judge E. R. Holmes federal judge for Mississippi, has just named Mir. Wilson and Mir. Vanderbilt receivers so they may administer the affairs of the company in this state. Accepts Invitation
 Lieut.. Governor Dennis Murphree is the first state official to accept tenta- lively an invitation to deliver a com mencement address during the 1924 session. His acceptance of the invita- tion extended by Mrs. Annie c. Lee, principal of the Cameron Consolidated school, hinges on whether or not the legislature has completed its session by the time of the school commence ment, April 29.