davidaulloa/AmericanStories huggingface dataset:
Evening star., 1937-11-30

business, increase Government re-
ceipts. and ofler greater hope to the
unemployed.
More specifically speaking, I would
say that the capital gains tax should
be taken out Of the ordinary income
and surtax sections of the present
law and placed in . classification to
itself; and the tax on capital gains
should be 1T such reasonable figures
~ not to prevent or hamper ordinary
business transactions. have no doubt
that this will be done. The subcom-
mittee Of the House Ways and Means
Committee has already agreed to =
tentative plan in the modification Of
the capital gai.is tax. 80 that the rate
will be graduated downward after the
property has been held over one year.
After the property has been held over
five years, the maximum rate will be
| Is per cent. I hope, If possible, keep
ing in mind, as We must, the condi-
ton OF the Treasury, to see that rate
made lower, and greater relief given
as to time requirements for holding
property.
Other changes are needed in our
tax structure, but in my opinion these
two are the most pressing and impor-
tant.
In working out these tax plans ant
in the enactment of the law pleast
bear in mind that under the Consti-
tuition revenue legislation must origi.
] nate in the House of Representatives
Evening star., 1937-11-30

StAntial increase in the normal cor.
porate rate % more preferable means
Of raising money than through an un-
distributed profits tax One repre-
sentative Of great business associa-
tion suggested 22h per cent nat
rate.
There Is another provision OF the
present tax law that should and must
be changed. I refer to the capital
gains tax. In my opinion no factor
has been more influential tn discour-
aging trade in stocks, securities or
property holdings than our high sur.
tax structure and, very stringent tax
Oh capital gains. It Is apparent that
those in the higher income brackets
or middle income brackets will not
part with their holdings, when they
know that in some instances they
must share with the State and Fed
eral Government tax as high as 80
per cent. So, they choose to retain
their holdings indefinitely, because
they do not feel they can afford such
an impairment Of capital as would
come about by the payment Of the
capital gains tax.
It did not then and does not now
appear to me to be logical that an
individual can trade an apartment
house for another apartment house;
that he can shift his moneys on deposit
from one bank to another bank, and
can trade one horse for another horse
without the payment Of . capital gains
Evening star., 1937-11-30

and the Senate Is powerless to take
any action upon these tax measures
until they have first been acted on in
the House.
ihere mas been fine degree Of %.
operation upon the part of the Treas.
ury, the members OF the WAYS and
Means Committee of the HOUSE and
the membership of the Senate. but
study, research and extreme care must
be employed in the constructive work
OF tax legislation. Since November (
subcommittee Of the Ways and
Means Committee has been meeting
twice daily in the speedy but careful
consideration Of this problem. We are
ell working toward one goal, and we
are trying to do the job Just as ex-
peditiously as the magnitude OF tho
task will permit There Is no doubt
that the Congress is alive to the need
for prompt attention to this important
matter, but the country must not ex-
pect us to be swept of our feet and
complete this task overnight.
Retroactive Provision Unlikely.
In conclusion, permit me to say that
the people should not be encouraged to
expect retroactive feature to these
notifications. The year 1887 has al
most passed into history. Many OF the
corporations have already distributed
in dividends the profits of the current
year. AS practical matter. most of
the others must declare out their divi-
(see FORUM, Page A-2O)
Evening star., 1937-11-30

cases the very situation respecting
employment that we are trying to
relieve will be aggravated. Every time
a going concern is forced to suspend
operations. 1t adds to the unemployed
roll and threatens to compel the Gov
ernment to increase emergency appro-
priations to aid the unemployed.
Must BE Modified.
And SO say to you, as chairman OF
the Senate Finance Committee, and
am quite sure that speak the senti-
ments of the great majority of the
members OF Congress that this undis-
tributed profits tax must be subStan
TALLY modified. 1t is my hope and
belief that in any event the law
will be modified so as to permit q
corporation, If it desires, to pay from
its annual earnings, without penalty
amounts for debt retirement and for
business expansion.
The subcommittee OF the Ways and
Means Committee Of the House Of
Representatives has already announced
a tentative plan which will substan-
TALLY modify the severity of the present
undistributed profits tax. The plan
considered. and which in all prob
ability will be reported by the sub
committee to the full membership Of
the Ways and Means Committee Of
the House. exempts all corporations
with net incomes of less than 81, 900
from the undistributed profits tax.
This means in numbers that SO per
cent Of all corporations. under such q
plan, would be exempt from the undis-
ing corporations, or II per cent OF
the whole number, it is proposed that
Evening star., 1937-11-30

(See FORUM, Page A-20.)
Evening star., 1937-11-30

AO~~~> SsAWA~ S>~S S~>~S>>~ ~~s~o>eSs
believed In Taxing Reserves.
when in 1896 the Congress enacted
- so-called undistributed profits tax,
IWAs one Of those who believed that
tlas effect would be to put . stop to the
Unfair practice Of certain corporations
who accumulated their earnings in Or
Asr to prevent the payment OF sur
Aaxes by their stockholders, and who
also penaltsed their small stockholders
h retaining from them dividends
Nhich should have been fairly distrib-
tfed to them. did not then believe,
.har do now believe, that large cor
porations should be allowed to build
Ap unreasonable and unnecessary re-
serves. I recognise, - every one who
has studied the question must recog-
naxe, that II Is sound business to re-
tsin from current profits SUFFICIENT re-
serves, either to meet current or future
oAliEations, Or for improvements or
necossary business expansion. And 20.
when the law was suggested and en-
Evening star., 1937-06-23
Louis Youngest Heauy Champ Held Made BY Scneng Defeat
Pertinent Facts
About New Ruler
Bv the Associated Press.

Bv the Associated Press.
CHICAGO. June 23.-Facts and
figures on Joe Louis. new
heavyweight champion Of the
world:
Born Lexington. Ala. May 13,
1914; full name, Joe Louis Barrow.
In three years as amateur, en-
gagged In 81 bouts, scoring 43
knockouts; winning seven decisions
and losing four-to Johnny Miller,
Max Marek, Clinton Bridges and
Stanley Evans.
Won National A. A. U. heavy
weight title in st. Louis, April,
1888, and turned professional July
4, 1884, when he knocked out Jack
Kracken, in Chicago, in first round,
receiving $50 as his share Of re-
ceipts.
Engaged in IL bouts in 1894,
scoring 10 knockouts, two de-
cisions. In 1885 won IA bouts, IL
by knockouts and two by decisions;
in 1896 won five bouts by knock
outs and suffered only defeat of
his professional career-a knock
out in twelfth round by Max
Schmeling in New York, June 10.
In 1887, knocked out Matte
Brown at Kansas City, won a To-
round decision from Bob Pastor in
New York and one June % at Chi
cago, won world heavyweight
championship by knocking out
James J. Braddock in eighth round.
Evening star., 1937-06-23
J0E'S HOME FOLK
STAGE BIG PARTY
Gay at Radio Reports, Then
Hold Dance in Street of
Alabama Town.
By the Associated Press.


7 AFAYETTE. Ala. June 23-Joe
Louis home folks" from Buck
alew Mountain, where Joe was
- born % years ago, came 4 miles
to Powder Town" here to celebrate
the Negro's victory even before his
fight for the heavyweight champion
ship began.
Gathered around two radios at
the home of Ada Finley, his aunt,
they shouted and laughed through
the eight rounds, refusing to doubt
for minute Joe's ultimate vic
tory.
And after it was over and Louis
was champion. they danced with de-
light in Powder Line" the main
Negro street. Many of the thousand
celebrants were blood kin Of the cham
pion, who left here as Joe Louis
Barrow when still a small boy.
Ada's wrikled face beamed with
smiles as she said Louis "kinfolks
hope he is coming back to pay us y
visit"
Louis has not been In Lafayette
since he was 10 years old. The
Barrows, named for their former
owners in the days OF slavery. are
known in this hilly, small-farm Sec
ton as good cotton pickers and hard
workers.
Joe was the fifth child OF Monroe
and Lilly Barrow, born May 13, 1914
His relatives here say one of his great
grandmothers was Cherokee Indian
Another legend, given full credit in
some quarters, says Joe's grand
father was a wrestler and the
strongest man in the South"
Evening star., 1937-06-23
MURDER0US RIGHT
CH|LLS BRADDOCK
Scores K. 0. Early in Eighth.
Job Now Is to Avenge
Kayo by German.
BY CHARLES DUNKLEY,
Associated Press Sports Writer.


~HICAGO. June 23.-Joe Louis,
only three years ago a rank
amateur. today ruled the
heavyweight fistic ranks of
the world.
The 23-year-old son of an Alabama
cotton picker won the championship
crown from great-hearted James J.
Braddock before a clamoring crowd Of
$4,000 in Comiskey Park last night
with one murderous right-hand blow
that struck with the speed of a rattle
snake.
That gloved thunderbolt climaxed a
spectacular fight, ending with the cut
and crushed champion being counted
out In minute and 10 seconds of the
eighth round. after Louis himself had
been knocked to the floor in the first
round and hard pressed to overcome
Braddocks courageous stand during
the first five rounds.
The Negro's convincing finishing
thrust made him the second man Of
his race to win the title, re-establisf-
ing him in the esteem of skeptics, who
saw him fall year ago under the
failing fists of Max Schmeling, and
cleared his path to the easy street OF
the millionaires.
Evening star., 1937-06-23

Athletic Commission at the ring
side Promoter Mike Jacobs,
who ran the show, didn't have a
seat -. He preferred to roam
about the premises to see that
everything ran smoothly Once
in New York, Mike was tossed out
Of Louis dressing room because he
wasn't toting press credentials.
1t was a tough fight for the
press One expert went down
with shingles" few days before
the battle . . Another was pick
pocketed for $l20 And many
others (no names, please) crashed
when the Braddock limb broke
down King Levinsky was here
and there greeting his friends and
still insisting the London climate
affected him "advoisely" One
top-hight sports writer who missed
the show was Royal Brougham Of
the Seattle Post-1nteiligencer -.
He skipped Chicago for Pough-
keepsie, where Washington crews
swept the river. They'll be send
mg those boys 70 ths Ross Bowl
Evening star., 1937-06-23
Major Leaders
BY the Associated Press.
American LeaEue,

American League.
Batting-Gehrig. Yankees. .3a1: WAL
ker. Tigers. .371.
v.RHns- RuHns-Gereenbers. Tigers. 54; Rolfe.
Runs batted in-Greenberg. Tigers. and
bonura. White Sox. 81.
Hits-aWalker. Tigers. Sc; Gehrig. Yam
KEGS. "a.
:. Doubies-vosmik. Browns. %: Gehrig.
YANKEES. and Bonura. White Sox 20.
;, Triples-Kuhel. Senators 6; Averill In
9aans; Stone, Senators. and Greenberg.
Home run-Di MaEsio. Yankees. and
W., Stolen ole base ,bases-7Chapman. Red sox. 12;
Bridges. Tigers. 3D.
National League.
T, Battlng-Medwick, Cardinals. Ar:
Runs-Medwick. Cardinals. 81: GAlan
. Runs batted in-Medwick Cardinals
g.: Mize. Cardinals. A..
nits-Medwick. Cardinals So: Vaughan
ul2fin p9iHoles.Medyick 3. rae Cardinals. "a: j.
Iriples-Vaushan and Handley. Pi-
:, Home .runs--Medwick. Cardinals. IS;
:. Stolen bases.-Galan. Cubs. 10: J..
Martin Cardinals. g.
Pitchers.shoun. Cubs. s-1: warneke
Evening star., 1937-06-23
Age Tells, Tunney Opines.

TUNNEY, cool and conservative, re-
marked, You can't beat old
Father Time"
Before the big bout, pugilistic
prominents, many of another gen.
GRAFTON, paraded again over the can
vased stage where they once held
leading roles.
The huge crowd gave Dempsey the
loudest round of applause. Willie
Ritchie, lightweight king from 1912
to 1914, got the second biggest hand.
Tunney also was favorite.
In between, Harry Forbes, bantam
champ in the early l90Os; rugged old
Battling Nelson, Sixto Escobar, Bar
ney Ross. Freddie Steele and John
Henry Lewis, present bantam, welter,
middle and light-heavy champs, re-
spectively; Jock Dillon, Buddy Ryan.
Johnny Coulon, Jimmy Barry and
Sammy Mandell all took a bow.
So did the Oldest timer" Of
those on hand-Tom Sharkey, never a
champion, but a solid contender in
the days of Corbett, Fitzsimmons and
Jeffries.
Evening star., 1937-06-23
LEWIS is COMING EARLY
Light-Heavy L Champ to Train Here
for Reddish Battle.

John Henry Lewis. the world light
heavyweight champion, will arrive in
town Thursday to complete training
for his 10round non-title match with
Willie Reddish, Philadelphia Negro
scrapper, next Monday night at Grif-
nth Stadium. A battery Of sparmates
Is being lined up for Lewis.
In the meantime Reddish is on the
scene, working out. This afternoon
at l o'clock he is to spar with Bob
Tow. Alexandria heavyweight, in q
public workout at Turner's Arena.
Evening star., 1937-06-23
JESS, JACK F|DGET,
BUT GENE IS COOL
Former Champs Offer Wide
Contrasts in Viewing
Finish Of Fight.
By the Associated Press.

By the Associated Press.
H1CAGO, June 23.-Three
former heavyweight cham
pions, their faces picturing
strange and strained Sc
quence of emotion, watched Joe Louis
belt the crown off Jim Braddock's
head last night.
AS Braddock dropped like a plum
met, Jess Willard nearly squashed
his 270 pounds through a ringside
seat. Jack Dempsey chewed a cigar
into bits and Gene Tunney stared at
the eight-round indicator.
OF all the former fistic celebrities,
lured here from all ends of the coun-
try, titanic Willard appeared to be
the most excited He was In and
out Of his seat, bobbing like 4 cork
on the water. One OF the rinSside
police finally had to ask him to re-
main seated. It was Willard who,
81 years ago, wore down Jack John
son, first Negro in modern ring his
tory to hold the championship.
Dempsey. conqueror of Willard In
1919, squirmed in his seat, destroyed
cigar after cigar with his teeth and
muttered after 1t was over: Il still
say Louis can't take punch. But
he hit Braddock with a lulu"
Evening star., 1937-06-23
BY BURTON HAWKINS,
6tar Correspondent OF The Star.

- HICAGO, June $50 Joe
I Louis, Negro, is champion.
That. to the collective mind
~ Of many otherwise phleg-
matte folks, is a calamity, but let's
be fair. Louis, for more reasons than
one. deserves the crown he battered
from the bloody head Of the coura-
geous Jim Braddock.
For the first time in % years fis-
tiana has produced colored heavy
weight champion, but all indications
point to more sane reign by this
colored lad than was the unhappy
seven-year regime of Jack johnson.
Still, the strong racial preju-
dice against Johnson was not
fomented until after he had
captured the championship.
A carefree, good-natured, but irre-
sponsible and illiterate product Of the
Galveston docks. the sudden acquisi-
tion Of riches proved too much for
johnson. His conduct was q reflec-
ton on his race. but with Louis ap-
parently there will be no aftermath.
Evening star., 1937-06-23
Battle Receipts, $7l5,400.74
Crowd Only $4,000, $4,000 Coming From
Radio Rights-Braddock Gets 1862 900.

was "about 55,000," Of which
$4,000 represented cash customers.
After deduction OF State and
Federal taxes, approximating sl15,-
900. the net receipts figured around
$525,000. Braddock's so per cent
share of this amounted to S262. 900
Louis 174 per cent "cut" figured to
be nearly $4,000.
Allowing $50,000 for promotion
expenses, the promoters profits
were estimated at close to $lOO, 900.
Evening star., 1937-06-23
AlAN<sIN' eMK Fl
EI ROPE At! =

world Ight-heavyweight title for
nearly two years without any resulting
race riots. Henry Armstrong is hailed
as the coming featherweight cham
pion, while track fans have accepted
Jesse Owens, Ralph Metcalfe and
Eddie Tolan for just what they are
great athletes. All are Negroes.
OF course, these are feeble slide
rules OF comparison. The attendant
glory, money and prestige OF annexing
the heavyweight championship may
bloat Louis self-esteem. He may
prove another johnson, but the
barometer certainly isn't pointing that
way.
Certainly Louis, at least from
the standpoint of sportsman
ship and behavior, is entitled
to as much respect as the balmy
Baer.
All signs indicate Louis will be
fighting champion. Certainly he has
not picked his spots on the way up,
and, with the exception Of Max
Schmehng, there appears to be little
reason for now doing so. Handlers
OF Louis, questioned about the posi-
biltty Of meeting Schmeling. replied
enthusiastically that they hoped to
do so as soon as possible.
That match, Of course, may be
ruined If Tommy Farr whips Schmel-
ing in their fight at London. FAR
is an attraction only on the other
side of the pond. and there appears to
be little competition for Louis as an
immediate prospect.
Jimmy Johnston, matchmaker for
Madison Square Garden, admitted
following the fracas he would concen-
trate on obtaining Louis for a scrap
with Bob Pastor, and added that
Pastor would polish off Joe con-
vincingly 1t was Pastor. you remem-
Der, who made Louis look bad for
10 rounds last Winter by the simple
process Of running in reverse.
Evening star., 1937-06-23
LAKE BLAMES YANKEES
Will See Lands He's
Signed, but Not Released.

RICHMOND. Ind. June % tP-
Walter Mickey Lake said today he
would confer with Commissioner K.
M. Lands in Chicago tomorrow in an
effort to iron out contract difficulties
with the New York Yankees.
Lake asserted the Yankee manage
ment caused him to sign 1898 con-
tract without release from 1897
contract after he was dropped from
the Butler. Pa. team, a Yankee farm,
several weeks ago
Lake said he had not received a re-
lease or an order to report to another
team, and that he could not make
another connection.
Evening star., 1937-06-23
Jim Keeps on Forcing.

THE champion, in superb physical
- condition, continued to wade into
Louis in succeeding rounds, showing
no fear of the Negro's punching dyna-
mite. In the sixth it was apparent
that he was beginning to tire under
Louis bouncing lefts and rights off his
cheeks and head
Braddock was hurt, cut badly about
the eye and mouth, but his courage
did not desert him. He was deter
mined to land finishing punch. Be-
fore the round was finished he was
throwing his looping right hand
wildly and desperately, but he was
OF balance and rapidly slowing down.
His legs were no longer able to sup
port him and he was . soon target
for the killing at the finish. He was
(ses DUNKLEY, Page C-4.)
Evening star., 1937-06-23
Mat Matches
BY the Associated Press

BY the Associated Press.
SPOKANE. Wash.-Frankie Hill. 1913.
Texas. defeated Ivan Strelich, 1875.
Yugoslavia zone falD.
SAN FRANCISCO.-Dean Detton.
gil; Salt Lake City defeated Sander
Szabo 2l4. Hungary 1.-TWO of three
SAN DIEGO. Callahan Mountain
Dean: 292. Georgia. defeated Hans
Steinke. 240. Germany 1.-TWO of three
falls)
INDIANAPOLIS. Ind-Dan O'Connor.
222, Boston defeated Oki Shikina, 2O5,
Japan (two of three falls),
Evening star., 1937-06-23
Minor Leagues

INTERNATIONAL.
Baltimore, 1O-11: Buffalo. 4-.
Rochester, Al: Jersey City. 81.
Newark. Is. Montreal 1.
Syracuse, 3; Toronto, /.
AMERICAN ASSOCIATION.
Kansas City 3: Toledo. 2.
Columbus. 3: Milwaukee. 2.
st. Paul. 10: Indianapolis. 3.
Louisville, Z: Minneapolis. 8.
TEXAS.
Oklahoma City, @; Houston. 2.
Fort Worth, .: Beaumont, l.
San Antonio. ,. Dallas. l.
Galveston, 8: Tulsa. 5.
SOUTHERN ASSOCIATION.
Atlanta. 6: Birmingham. 3.
Knoxville, 13; Little Rock. l.
New Orleans IL. ChattanoogA, 3.
Memphis, 5; Nashville. 4.
PIEDMONT.
Richmond. 10: Asheville .
Portsmouth. z: Rocky Mount. 2.
Evening star., 1937-06-23
Fights Last Night
BY the Associated Press.

~ e'AS ENSsSSAulCo IACSS.
CH1CAGO.-Joe Louis, 1917. De-
tTolt; knocked out Jim Braddock 1877.
champion 90 for heavyweight title
NEW YORK.-Nat Liftin. l24A, New
York outpointed Henry Hook. 1913.
Indlanapolis go: Bobby Britton. 1881.
York drew (6)
LOS ANGELES.-Gus Lesnevich. 16a.
HHackensack; N. j., outpointed Young
Stuhley. 1853 Chicago 1m.
PORTLAND Oreg.-Fred Apostoli
16U. San Francisco. knocked out
Tommy Jones, SO. Brooklyn N Y (2).
HOUSTON. Tex.-Battling Bur-
pointed Marty Mario, 1924. New
York 1O.
Evening star., 1937-06-23
BY the Associated Press.

)H1CAGO, June 23-Gross
receipts for the Braddock-
Louis heavyweight cham
pionship fight amounted to
37l5,40074, Co-Promoter Mike
Jacobs announced early today after
. check-up.
This included $4,000 for the
radio and motion picture rights, 20
that the actual gross ticket sale
amounted to $640, ,40O.74.
Jacobs said the total attendance
Evening star., 1937-06-23
Joe Credit to Boxin4,

THE stolid Louis thus far has been
distinct credit to his clan. A
mild-mannered, perhaps ignorant fell
low, Joe has been the Moses Of the
boxing game, salvaging the waning in.
terest Of the heavyweight division
after four lean years dominated
chiefly by the freakishness Of Primo
Camera. the Hippodrome, antics Of
Max Baer and the inactivity of Brad
dock.
Contrasting the department Of
johnson, whose acts produced trouble
with the Federal Government and
forced jaunt to Europe to escape
punishment, Louis has been guided
carefully, maintaining discreet
silence during his rise.
Seldom has Louis appeared at
public functions and these have
been almost exclusively At
affairs of his own race.
From an unbiased standpoint. there
Is little to fear from Louis holding
fistianas most coveted crown. The
crowd here last night, il that may be
taken as q criterion, cheered the calm,
methodic dose Of dynamite with q
roar BETTING any champion.
Evening star., 1937-06-23

Joe is the same hard hitter Of two
years ago and may be champion
for long, long time Provid-
ing he isn't tagged again by Max
Schmeling.
Schmeling Is dated up to fight
Tommy Farr, the British champ
Braddock also may be per-
suaded to 60 abroad to start his
comeback Promoters estimate
Negroes comprised 20 per cent Of
last nights audience A min
lister was in charge of 6 special
bringing 800 from New York's
Harlem.
Old Jess Willard wears the same
style of broad hat
turned up in front and down in
the rear Gene Tunney, who
picked Louis, spent all evening
roofing hard for Braddock
Prior to the gathering at Comiskey
Park, the largest fight crowd spot
ted here was the one in front Of
the Morrison Hotel watching Jack
Dempsey get shaved.
1raddoeks 3mpertsd New York
Evening star., 1937-06-23
Unlikely to Emulate johnson.

Unlikely to Emulate Johnson.
NEGROES have made rapid strides
in the sports world in recent
years and, II memory serves correctly,
have conducted themselves properly
at all times.
John Henry Lewis has held the
Evening star., 1937-06-23
Braddock's Cameness Will Long Be Remembered
Louis Shows You Can Discard Training Camp Stu

seoonds-Ray Arcel and Whitley
Bimstein-received $500 apiece for
the evenings work Harry Len
ny, manager Of Ray Impellittiere,
engaged at the last minute to help
In Louis corner; drew down $3.50
/. . Louis not only is the young
est champion in heavyweight his
tory, but one of the few chal-
lengers to 60 to the post a favorite
). The biggest hook-up ever as
sembled for a f1ght-l25 stations
sent out the blow-by-blow All
that glitter right behind the work.
ing press was merely the Hollywood
film delegation j. Edgar
Hoover, chief of the G-men, was
Joe Gould's personal guest.
Jack Dempsey and his wife, the
former Hannah Williams (you
know, the cheerful little earfulD
rushed to the arena direct from
the Washington Park races
Largest single bet reported was
5000 to $1,000 on Louis Col
D. Walker Wear was ths only
u,1mbs1 Of the New York STATE