Coulee City dispatch. [volume] (Coulee City, Wash.) 19??-19??, 1937-10-21

several explanations. One IS tndI
the calendar year of 1886, for which
last March returns were made, was
one of rapidly advancing security
prices. Hence every one who sold,
nearly, had profit. The Treasury
does not give out figures showing
the amount of income taxes result
ing from security profits, but the
Treasury officials know them, and
they are perturbed at the prospect
of the decline in revenue unless
there is totally unexpected boom
in the market between now and De-
cember.
Need Higher Taxes
Hence the Treasury is figuring on
the necessity for much higher taxes
to keep it from going further into
red ink. Also it knows that the real
revenue producers are few. Sales
taxes and lowered income exemp-
tons are politically verboten, leav-
ing only boosts in the higher brack-
cts and in levies on corporations as
likely. Business knows this too,
and that is a contributing reason, IN
the opinion of the Treasury experts,
for the present tirnidity OF in
vestorS.
So, the optimists figure, the Presi-
dent cannot stop spending, and he
cannot head off higher taxation,
which would seem to leave them lit
tie to be encouraged about.
Except-that they then proceed to
look into the reason that made the
President promise to do something
they do not think he can do. This
reason, they figure, is concern about
the business situation, concern
about this same timidity of inves-
tors; the unwillingness of present
business to expand, and new bust
ness to start. ~
Conceding that the President does
want to reassure business, and that
he will find it impossible to carry
out the reassuring promise, the al
tentative, they deduce, will be
some assurance of another breath
ing spell-a period during which no
further government regulation of
business will be imposed. This,
some think, would be just as salts
factory to business as tax reduc-
ton.
But it takes a mighty optimistic
mind to 60 all the way through on
this solution and get that answer!
Antitrust Suit
The biggest antitrust suit in his
tory, involving corporations whose
capital runs to more than six bill
lion dollars, and threatening with
Jail sentences So key officials, most
of whom are millionaires, with a
sprinkling of multimillionaires,
makes Madison, Wis, the oil cap
ital of the country.
Apparently not one of the SO Of
ficials is trusting his own company
lawyers to get him out. That
threatened Jail sentence is too men
acing. The progressive sentiment
of La Follette-educated Wisconsin
is too disturbing as one contemplates
jury material. So each of the So
is dragging along his own lawyers,
or group of lawyers.
If there is a firm of lawyers in the
United States which has ever had
any antitrust suit experience and
is not employed on this case, it's
not the fault of the oil millionaires.
They have been hiring everybody
in sight who had the slightest chance
of knowing his way around in a
trust suit, or with any particular
knowledge of the government law
yers who might be used.
Accommodations in the town of
Madison have long since been
snapped up.
Most of the bigwigs, both execu-
tives and lawyers, have organized
in little groups and leased private
homes, turning them into clubs for
the duration of the war. Some are
wondering plaintively if they will
get home by Christmas. Which is
very funny to old-timers in trust
suit matters, as they recall the du-
ration of some of the more historic
antitrust suits.
Charge Conspiracy
The government alleges in the
suit that the big oil companies have
been violating the antitrust laws
by conspiring on prices. The prac.
tice, according to government Off
Gals, really lowered under the
NRA, when antitrust laws were vir-
tually suspended in return for agree.
ments by the employers to certain
wage and hour conditions, as well as
promises with respect to the mum.
Der of people they would employ.
But on the day that the Supreme
court knocked out the MIRA, all the
oil companies and their officials
were in technical violation of the
antitrust laws. The government
probably would not have prosecut-
ed, officials say privately, if the
oil men had thereupon stopped CO.
operating in price fixing. But they
kept right on, the government law.
yers say.
Another wrinkle is the provision
in the antitrust laws that an ag-