Evening star., 1924-08-07
TAX BOARD READY
TO HEAR APPEALS
FIRST Cases Next Week-Lo-
Cal Market Active-Lan-
st0n Votes Dividend.

States
ooard OF Tax Appeals will be prepar-
eo TO begin consideration of its first
cases by the last of next week. This
prediction was made at the Treasury
To-Day. when it was explained that in
d lew special cases arrangements
nave been completed whereby the
taxpayer and the Government agree
20 waive certain formalities and get
oo"n 10 consideration Of the facts
Choer the rules of procedure adopt-
ed by the board it had been expected
that II would not be able to begin
functioning before September Is but
the preliminary work on the few frs4
eases nave been arranged to begin
ABOUT a month earlier
RIsing Tide of Protest.
rising tide of protest has been
coming into the Treasury concerning
the personnel Of the board, which so
1ar consists OF IL members, all law
yers. These protests claim that the
poard should be composed partially
OF certified public accountants and
pfactlcal business men.
Other discussion Of the nrosnecti,,e
acllon or the board, it was learned
today, has predicted that now there
VIII be speedy determination of TAX
cases, When the parties concerned get
togtther to talk II over across the
table,
In answer to these two particulars.
II has been said on behalf of the Gov
Board of Tax Appeals court OF
record. not IN informal board This
Will necesSitate having a personnel
largely If not exclusively. of lawyers.
It is said, as the membership of the
court will be called upon for a fine
cut interpreta ton of the law. Had
congress made it an informal board.
ornclalS state, 1t would have been
feasible to have on the board more
business men and more public ac-
countantS.
Slow Progress Feared.
The court of record" also will slow
up procedure, il is anticipated, al
though, of course, the progress to lie
made can only be determined afte:
IT Is in actual operation Some Of
tcipated by. some officials, may take
many months. Informal cross-the-
table consideration seems precluded
by the court of record"
The board will eventually consts.
OF 2S and will be divided so as to
sit IN various parts OF the country.
but for its first work TO start neat
week il is expected the board will
meet mere IN Washington.
Exchange Trading Active.
Trading on the Washington e.
change was fairly active today Ian
Ston Monotype moved 60 shares at 81.
National Mortgage and Investnlen.
preferred was active at SIS. while !"
shares of Washington Gas Light sold
at 49si On the bond side there wer
several exchanges. $4,000 in Poson1a-
ElectrIc construction 5s moving -
"12, $1,000 Capital Traction IS a. =
ana $4,000 of the same at 9SA
Lanstop Dividend Voted.
The board of directors Of the Ian
ston Monotype Company. meeting
Yesterday in Philadelphia. declared
its regular quarterly dividend Of
= per cent, payable August 81. J.
Thilman Hendrick of this city was
rectors and T. Frank Morgan. former
superintendent of work in the Gov
eminent Printing Office here, was
elected second vice president.
Dawes Plan Praised.
The Brookmire Economic Service
/ of New York has answered many
business men" who say that the ac-
ceptance of the Dawes plan and the
settlemert of the reparations prob
lem will bring decentralization to
American domestic markets and cause
a falling off in our foreign trade"
On the contrary, according to the
service. Europe must have the means
| OF producing goods in quantities and
to do that requires both capital in
the money sense and capital in goods.
In this last group should also be
included raw materials. This means
her rehabilitation must come from the
more prosperous countries. which
means practically the United States
We believe that the first movement
viii be a demand for our capital
in all shapes and that the early
stages will effect an increased de-
mand for the products of our III
duStry"
Price Declines Checked
AS rising prices for commodities
are generally incidental to a revival
in trade. more than usual interest is
attached in Washington to the fact
that Bradstreet's index number OF
wholesale prices this week showed a
gain for the first time since last De
cember. The index number rose dur
ing July to a level even with that of
April l. this canceling the declines
registered during April, May and
June. The amount of increase was
81 per cent over July l.
Mellon Due Home Soon.
Secretary of the Treasury Mellon
is expected to return from his vaca-
tion trip to Europe early in Septem-