, 1935-02-08
The World
At a Glance
By LESLIE EICHEL
Central Press Staff Writer)

NSNA4AAcA EACcS 0bdAA NAAICAy
NEW YORK. Feb. s-The chang
ed sentiment OF bankers is proving
a great aid to the Roosevelt admin
istration behind the scenes.
Banking" published by the AM
erican Bankers association says in
its February business review:
"The comparative soundness Of
business conditions and the prospect
OF gradual improvement seem 70 be
eliminating from the minds OF most
business men any idea OF either a
serious setback or a fortultous slim
illus leading 10 any substantial and
immediate advance
lone feature dominates the stu
alton in these early weeks Of the
new year. II is a general recogni-
ton Of the comparatively solidity
and stability Of fundamental
business conditions, Notwithstanding
such flareups as the excitement over
the gold clause cases before the SUI
preme court.
Indeed. the tendency Of business
undoubtedly is to discount unfavor-
able developments so far as they can
be foreSeen AZ this point
Compare that with what the bank
ers were saying a year ago.
Constructive Factors
These are constructive factors
as listed by the publication OF the
American Bankers association:
THE apparent determination OF
the administration to start the flow
Of private capital; the calmness
with which the business world &C
cepted the new federal budget pro-
posals: probable stimulation Of con-
struction and allied industries BY
the work-relief program. the en-
%couraging vigor Of the automobile
business: the greater vitality OF the
steel industry; activity in retail
trade: maintenance OF the govern
ment's credit; Simplifications OF the
securities and exchange commits
sion's registrations requirements
which should stimulate the capital
market: the absence of further at
tempts to manipulate the currency
and prices; the strong banking
situation"
Tax Fight
A tax fight is being conducted in
Minneapolis by the Minneapolis Star
to prevent exemption OF valuable
property.
That fight may be an eye-opener
for other cities that have not in
vestigated what is going on with tax
rolls at home.
The Minneapolis situation may not
be altogether unique.
A small private school elsewhere
in Minnesota tried 10 finance itself by
taking privately owned property in
Minneapolis off the tax rolls. The
school. a Baptist institution. based
exemption OF its property on the
Grounds that 1t is a religious isti-
tuition.
Minneapolis. with eight boys in the
school. already has been called on TO
give mp $4,000 a year in taxes on
downtown property, with more losses
In prospect.
The school requested also exemp-
ton on property in st. Paul con-
tanning a liquor store. The ST. Paul
council responded by holding up the
liQuor license.
A few headlines in the Minneap-
oils Star indicate the intensity Of the
battle:
Fight vast tax loss In city .
Battle turns on property valued al
S403. $50 decided to academy f.
County Auditor Erickson charges
transfer was dec!gned TO find relief
from taxes Would open way for
wholesale tax evasion official
charges Charter granted inSti-
tuition in 1854 by territorial legisla-
ture basis Of claim for exemption"
The academy'S trustees have been
MANAGING the acquisition Of the
property through a collateral agree
ment campaign.
A public schools protective league
attacks the collateral agreement plan
as "Scuttling the tax roll and as
likely to undermine public school
INCOME"