The Western news. [volume] (Libby, Mont.) 1933-current, 1937-10-21

the amount of income taxes result
ing from security profits, but the
Treasury officials know them, ana
they are perturbed at the prospect
of the decline in revenue unless
there is a totally unexpected boom
in the market between now ana 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 oracK-
cts and in levies on corporations as
likely. Business knows this TOO,
| and that is 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 ne
cannot head off higher taxation,
which would seem to leave them Ut
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 busi-
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 70 all the way through or
this solution and get that answers
Antitrust Suit
The biggest antitrust suit in his
tory, involving corporations whose
capital runs to more than SIX oil
, lion dollars, and threatening witt
Jail sentences So key officials, mos
of whom are millionaires, with
sprinkling of multimillionaires
makes Madison, Wis, the oil cap
ital Of the country.
Il Apparently not one Of the 30 OF
ficials is trusting his own compan,
t LAWYERS to get him out. Tha
g threatened jail sentence is too mer
!. acing. The progressive sentlmen
= OF La Follette-educated Wisconsin
c is too disturbing as one contemplate
e Jury material. So each of the ;
d is dragging along his own lawyers
r or group of lawyers.
y II there is firm of lawyers in tn
= United States which has ever ha
n any antitrust suit experience an
) is not employed on this case, it
e not the fault OF the oil millionaire
h They have been hiring everybod
in sight who had the slightest chanc
A OF knowing his way around IN
10 trust suit, or with any particuls
> knowledge OF the government Law
\ yers who might be used.
IT Accommodation in the town |
1t Madison have long since bee
e. snapped up.
n Most Of the bigwigs, both exec
rt tives and lawyers, have organize
In little groups and leased priva
is homes, turning them into clubs Il
x the duration Of the war. Some a
e. wondering plaintively II they w
lie get home by Christmas. Which
u very funny to old-timers in tru
in suit matters, as they recall the d
,e ration of some of the more histor
h. antitrust suits.
: Charge Conspiracy
- The government alleges in Il
- suit that the big oil companies ha'
81 been violating the antitrust Lax
ia by conspiring on prices. The pra
r. tice, according to government OF
% Gals, really lowered under t
II MIRA, when antitrust laws were VI
tually suspended in return for agre
ments by the employers to certa
wage and hoar conditions, as well
no | promises with respect to the nun
ly Der OF people they would emplc
mt But ON the day that the SupreH
hit court knocked out the MIRA, all t
N. oil companies and their officis
on were in technical violation OF t
es antitrust laws. The governme
In probably would not have prosec'
az ed, officials say privately, If I
Sc oil men had thereupon stopped {
&C operating in price fixing. But tn
kept right on, the government la
CHI yers say.
ST. Another wrinkle is the provisi
a in the antitrust laws that an {
St. grieved party can sue violators
"a the law for triple damages. TIL
mt if some one can prove that he Il