Evening star., 1932-12-27
Only Five Report More Than
$3.50, 900 in First Year
of Depression.
FIGURE ROSE FROM 13
IN 1928 TO 80 IN 1929
Tax Returns Also Show Residents
Of Maryland and Virginia
Hard Hit.

according to income tax returns for that
year. the first complete year after the
break in the stock market Business,
trade, manufacturing and other activi-
ties here also showed substantial falling
OIL during that year.
The figures for 1880, made public in
detail today by the Internal Revenue
Bureau. show the number of incomes of
$3.50. 900 or more annually in the Capt.
tai rose from 13 in 1928 to 80 in 1929
then fell back in 1880 to only five. The
total net incomes reported by this group
rose from S7,7l3.353 in 1928 to Sl2507,-
98l in 1929, only to drop during 1880 to
$2,320, ,18l. Many Of those in the higher
brackets also slid back into the lower
brackets in 1880, the figures show.
The total net income Of individuals
in the District. which had been made
public in reports published previously.
increased from S227 $40 sos in 1928 to
S242 .282. .698 in 1929 and fell to S217,-
558,44 In 1890.
Bracket Disappears.
The two incomes in the District to-
falling between a million and million
and a half in 1928 disappeared from
these brackets entirely in 1929 and 1880
But the year 1929 shows the largest
number Of high incomes, 80. over a
quarter of million. grouped as follows:
Seven reporting incomes between $780,
600 and s750,000 Z between S400 1000
and S500,OO0; 9 between 100000 and
S4OO, 900 and between $250000 and
$500 900.
In this same group of those report
ing more than quarter OF million
a year there were only five. altogether
in the first depression year. 1880,
grouped as follows: Two reporting in
comes between s50o.000 and $3.50. 900.
between 100000 and 100000 and one
between S25O.000 and 100000.
The largest taxpaying group varied
over the three years, changing from
s,285 reporting between $1,000 and
So 900 income in 1928. to 1884 report
ing between $4,000 and $4,000 in 1929
and falling back again to the group
between $1,000 and $4,000 for 1880,
with a total of $3.50.
Figures for Maryland.
In Maryland high incomes Of more
than S25OOO0 rose from As in 1928 to
$780, The highest income reported
during these three years in Maryland,
however, was in 1890, when one net
income of between S4,000,0O0 and
| $5, 900 900 was reported.
Individual incomes in Maryland rose
from $4O9,37l.465 in 1928 to $l,37l.-
651.741 in 1929 then dropped in 1880
to 1854, ,627 .248. The tax rose and fell
proportionately.
In Virginia the trend of highest in
| comes was different. showing ten over
$3.50, 1000 a year in 1928, eight in 1929
and five in 1890 Total net income for
a El
to SITS, ,2s3 e26 in 1929 and dropped to
Sl56,272 484 in 1880.
Corporation net income for the Dis
! trict fell off from $50, ,909 pa in 1929 to
$50. $50 ,49O in 1880, but the figures for
many years back show corporations in
this city reached their peak three years
before the market break. in 1926, when
the total net income reported was $685.
987,475.
966 Firms Have Deficit.
The number of firms showing no net
income, but q deficit. increased to the
highest point in 1880. reaching S66
firms, with total deficit Of $15.134,-
686.
In Maryland there was decrease
both In the number Of corporations and
the total net income, the number fall
Ing from 1884 In 1929, with a net In
come of $165 5,645,057. the highest ever
recorded there. to 1922 firms in 1880,
reporting total let income OF $ll6,-
3z5,4s0.
In Virginia, like the District, corpo-
rations reported their highest income in
1926, but there was q drop from 1887
firms, reporting net income of $132,-
CSC, ,424, in 1929, to 3,241 firms. report
ing total net income of $110,674.829
Total manufacturing in the District
showed a falling of both in number of
firms and net income. The total num-
ber of firms reporting net income fell
from $50 in 1929. with net income of
So .976,259 and paying tax of $685., ,730.
| to 148 firms in 1890, reporting net in
come of S3,048,o78, paying a tax of
S304,34 The number of manufactur-
ing firms here reporting no net in
ccme but a deficit. increased from 116
in 1929, with deficit of 81 SGT .265. to
the larger number of 126 firms in 1880,
with the smaller total deficit Of ST.
309, ,601.
District Trade Declines
Trade in the District showed q fall
| ing of from 389 firms in 1929, report
ing a net income of Sc, ,507. and pay
ing tax of $668, ,428, to 354 firms In
1880 with net income Of $5,666,678,
paying tax Of $598,280 The number
Of firms reporting no net incomes, but
q deficit, increased from 267 in 1929,
with deficit of 81, ,657 $50, to 294 firms
in 1880, with deficit of 81, ,458, ,769.
Transportation and other public utili-
ties in the District showed a falling off
from 81 in 1929, reporting a net income
of $50, ,623, ASS, paying taxes of $780,
484, to 43 corporations in 1880, with net
income of $l3.529,344, paying tax Of
81 ,612,78 Utilities showing no net
income, but deficit, increase from As
in 1929, with deficit of $577, ,661, to so
utilities in 1880, with q much larger
deficit Of 1896 .484.
Financial Houses Suffer.
Financial houses in the District
showed a falling of from 321 In 1929,
reporting a net income Of $8.351 ,161
and paying taxes of $826,58 to 298
houses in 1880, with net income Of
| S., al, ,989 and paying taxes Of $751;
673. Financial houses here reporting
no net income increased from 206 in
1929 with a total deficit of $3,820,771,
to 248 in 1880, with total deficit Of
| S6,247,268.
For the country as a whole the ag-
gregate net income Of the individual
| income taxpayers in 1890 tota1ed $18,-
| 1l8, ,634, ,941. Corporation net income
! for the Nation amounted to $6,428,812,-
ITO. Corporations paid Sill, ,703. 900 In
tax, while the individuals paid $476,-
7l4,608. The individual net income for
/ 1890 compared with $l3 3,231 ,352. .042 for
1881 and the corporation net income
with $3,110,642, ,568 for 1891. OF the