The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1926-02-12

SOl. luOHldS w. mluST, lOIuici
Alien Property Custodian, tour Ger
man and four Swiss citizens, and
three German and Swiss corpora
tons. were indicted by the Federal
Grand Jury last October for con-
spiracy TO defraud the United
States Government in the release by
the property custodian of about ST.
600, 900 of sequestered assets of the
American Metal Company. 1t was
alleged that the assets were return
ed to their German owners, al
though it was represented they were
being returned to Swiss owners.
February 5, 1926.
Predictions are that the Senate
will pass the tax bill tomorrow.
The first important action on the
bill was taken Tuesday when the
Capital stock tax by vote of rs to
was repealed, and the corporation
tax was increased from 12h ito
1914 per cent, by vote of AZ to
35.
Following the disposal of the
corporation tax, and the repeal of
the capital stock tax, the Senate be-
gan its consideration of another inn
portant feature of the bill, the sur
tax rate revisions
As provided in the bill, these
rates are cut from a maximum of
40 per cent to 20 per cent. The
contest against this reduction was
begun by Senator Norris, from
Nebraska, who declared that the
largest reductions were given to tax
payers with incomes of 100000.
However, on Wednesday,, the Sen
ate adopted the Committee recon-
mendations of maximum surtax of
20 per cent.
The efforts of certain members of
Congress, supplemented by the in
PRODUCTION into the House and Sen
ate of petitions and resolutions of
organizations and individuals from
all parts of the country protesting
the formation of food trust, have
been futile.
The Ward Food Products Company
was Incorporated January 30th, and
the Two Billion Dollar Food Merger
formed On the heels of this a
$500, 100000 combination, known as
the National Food Products Com
pany, which owns capital stock in
a number of chain grocery stores,
was Incorporated.
The court martial trial of Colonel
William Mitchell, who resigned from
the army this week as result of
the courts verdict, cost the Gov
eminent approximately $4,000.
He has announced that he will
start nationwide speaking tour in
behalf of his national defense poll
cies in New York, February 10th.
Colonel Mitchell made his first
appearance uefore congressional
committee, since becoming a private
citizen, this morning. He was in
vited by the House Committee on
Military Affairs to make a state
| ment and to answer questions con-
corning certain bills which have been
before the Committee for several
weeks, providing for Department
of National Defense, separate air
corps, and unified air service. He
stated separate department would
require an initial annual appropria-
ton of approximately sos, 000, 900.
The fight over disposal of the
governments $150,00O,0O0 power
and nitrate plant at Muscle Shoals,
Alabama, will start in earnest in the
Senate in about. ten days. The
House, resolution authorizing a con-
gressional Committee to receive bids
for lease of the plant was favorably
reported by the Agricultural Com
! mittee in the Senate.
| Up to February Sd, there had
been introduced into Congress this
session '1,737 bills, but only three
of these have passed through all the
stages to become law They were
measures providing for construction
OIL bridges over navigable streams.
| The House passed the Agriculture
Appropriations Bill Tuesday, Feb
ruary I'd, carrying an appropriation
of 1927 ,003, 1928.
The McFadden Bill, authorizing
national banks to engage in branch
banking in cities where state banks
follow this practice was passed by
the House February 4th, and sent to
the Senate. A similar measure was
passed by the House in the hast Con-
gress but failed in the Senate.