davidaulloa/AmericanStories huggingface dataset:
Evening star., 1941-02-25

plicated formulas by which the
amount of the payment is arrived al
once the taxable income is COM
puted.
Here are the proposed modifica-
tions as explained by Treasury ex-
perts:
l. A two-year carryover of credits
against income subject to the excess
profits tax. If a corporation had a
credit of 100000 in one year and
used but S400, 900 of it, the remainder
could be carried over for the next
two years. Present law permits only
one-year carryover and that only
to corporations with income OF
$25, 900 or less.
Abnormal Income Provision.
2. Specific deductions for abnor-
NAL income in the year base
period 1896 1897 used in comput-
ing the income above which the ex-
cess profits tax is applied. Certain
specific deductions are listed in the
present law. The modification
would provide for general abnormal
deductions both as to- type of in
come and as to amount.
8. Abnormal income in the taxable
year. Present law permits deduc-
tionS for such income only on six
specific types. The notifications
would keep those types and also al
low adjustments on account of any
income considered abnormal with
respect either to kind or amount.
T. The manner of computing the
average earnings credit. At present
corporation has to average its in
come for the four-year base period.
The alternative method would pro-
vide for averaging that for the first
two years and the last two separately,
taking the difference between the
two averages, and adding it to the
average for the last two-year period.
The total would be the credit, except
that it could not exceed the actual
income for any single year in the
four-year period. A corporation
would use whichever of these two
methods would yield the greatest
credit.
Joint Returns Provided.
s. Joint returns. Insurance COM
panies other than life or mutual
companies would be permitted to file
joint returns with insurance
companies with which they are
affiliated. An example is a large
contracting company which carries
its own liability insurance in its own
company.
6. Recapitalization of advertising
and other goodwill expenses claimed
for the four-year base period. Al
though not so reported previously,
these could be charged to capital
accounts, provided the taxpayer then
paid regular back income taxes plus
penalties and interest on previous
income affected by the recapitaliza- -
ton.
7. Revision of income categories
affecting the excess profits tax base
in years now subject to statute of
limitations. Despite what may have
been previously reported in income
tax returns, the excess profits tax
payers could, under this modif1ca-
ton. report his true income for such
years provided he paid back taxes
plus penalties and interest.
Relief Section Revision.
8. Revision of the general relief
section of the present excess profits
law to permit corporations with ab-
normally low incomes in one or more
of the four base years to adjust their
base period credit figures upward.
No corporation could seek such an
adjustment, however, unless it paid
an excess profits tax equal to at
least 8 per cent OF the normal tax
Evening star., 1941-02-25

net income" Also the tax saving
to be effected would have to amount
to at least 10 per cent. of the tax
payment figured without benefit of
the adjustment.
Generally, the adjustments pro-
vided under the legislation would
have to be made by the internal
revenue commissioner, subject to an
appeal to the Board Of Tax Appeals.
Treasury experts said the pro-
cedure would be for the taxpayer to
pay his tax and apply at the same
time, or within six months, for a
refund according to the kind of ad-
iustment to which he was entitled.
Evening star., 1941-02-25
Vacations Urged to Cut
Mexican Use of Power
BY the Associated Press.

BY the Associated Press
MEXICO CITY, Feb. 35-A
threatened water power shortage
caused the Federal Electricity Com
mission to urge today that govern
ment and industrial employees be
given simultaneous vacations in
May to reduce this city's electric
light consumption.
If the capitals government in
dustrial and commercial life is
brought to a virtual standstill for
two weeks, the commission said,
enough electricity may be saved TO
prevent "blackout" before the
rains begin about June ~.
The city already has been put on
daylight savings time and all power
is turned of between IL am. and
1:30 pm. daily.
Evening star., 1941-02-25

what they think and report what
they see.
1fyou suspect a dictator-a
"Strong Man." is approaching,
watch his nations newspapers. If
they are healthy, unsurpassed,
vigorous, it is safe sign. So long as
the ballot remains and you keep
your right to choose how, when and
where you shall spend your money,
you need only a virile pres to pro-
tect you.
Evening star., 1941-02-25
Victim of Three-Cur
Crash in Virginia Dies

BY the Associated PreSS.
WINCHESTER, Va, Feb. as
Dudley Linton of Clifton, Va, died
in a hospital here yesterday Of in
juries received In a collision involv-
ing three automobiles.
Edgar and George Helms of Cliff
ton and william A. Swisher of Win
chester also were hospitalized with
cuts and bruises sustained in the
crash of two cars on Route so. A
third car, occupied by West Vir-
ginians, ran into the wreckage. but
the occupants of that automobile es-
caped without iniur-,
Evening star., 1941-02-25
Two Navy Bombers
Reported in Crash
Into Pacific Together
Missing Planes Carried
Men Eoeh; Wings Said
To Have Been Locked
By the Associated Press.

By the Associated Press.
SAN DIEGO, Feb. 25.-Two small
Navy bombing planes, each with two
men aboard, were missing today on
a training flight, and the sheriff s
Office said it had received reports
which the Navy refused to confirm
that the craft had crashed with
wings locked into the Pacific Ocean
north of here.
Without success, powerful search
lights from a destroyer and a Coast
Guard patrol boat swept the sea
between Carlsbad and Encinitas in
q drizZling rain. The cutter re-
ported to Coast Guard headquarters
here by radio that a search q mile
Evening star., 1941-02-25

Full capacity washer
In porcelain, electric
iron, ironing board.
pinless metal clothes
line and 6 boxes of
Rinse.
Evening star., 1941-02-25
Blood on
the Blade
By NORMAN CHANDLER
ckoSmca kswspopss Ablsb>n csmmssss

pen is mightier
l. than the sword"
only when the pen is free.
You hear much talk
of dictatorship and total
central power these days.
You need not fear it 50
long AZ men can write
Evening star., 1941-02-25

You'll know no longer the differ
encc between straight fact and the
fancies of your "Leader." You'll
hear nice things, get sugar-coated
"urgings" in your papers. But you'll
never have the chance to make up
your ovn mind-about a candidate
for office or an article in a store.
Your mind will be made up for you,
by the simple process of giving you
only one side-the dictator's side
of the news.
Evening star., 1941-02-25

NOTE: The Newspaper Publishers COMMITTEES, conn
posed Of over 35s leading American Newspaper,
pubHahes thssa messages simultaneously each week.
The force which unites these newspaper their rec.
o4nition sf their responsibility you, the resdse.
Evening star., 1941-02-25
GeooruphicoI Freak

Point Barrow, Alaska, northern
most city on the North American
Continent, actually is closer to Ber-
lin than New York.
Evening star., 1941-02-25

Taxes can destroy the press. reg
Hlation" of advertising can dis
courage merchants and producers
from offering their wares through
the cheap and simple method Of
notices in the press; advertising
helps pay the cost of gathering and
distributing other news. Even so
seemingly remote thing as high
telegraph rates can stihe the news
paper which must get you today's
news today.
Thus, when you see blood on a
"Strong Mans" sword, make sure
it is not newspaper blood.
Evening star., 1941-02-25

California replaced Texas as the
fifth most populous State, accord
ing to the 1910 census.
Evening star., 1941-08-19
Defense Needs
Boom New York
Realty Market
B, the Aszociated Pres.

by ths AsSoc1Ateo PrSsS-
NEW YORK, Aug. l9-The New
York real estate market, rated by
experts as the greatest in the Ma
ton, is experiencing a substantial
pickup as the result Of floor space
demands by Federal departments
and private concerns with defense
contracts, renting agents said today.
New lessings have cut down ma
aerially the vacant areas in the Wall
Street district. Army and Navy
stad additions are being quartered
here. it was reported, because of
insufficient space in Washington.
So far. according to a survey,
more than 100000 square feet has
been taken. considerable part in
the financial district.
Additions to the Army and Navy
stats being made at the Federal
Building. at 90 Church street, were
expected to involve complete occu-
pancy of the 1,000,0O square feet
of the 15-story structure, forcing
other tenants to seek accommoda-
tions elsewhere.
Evening star., 1941-08-19
Republic Steel Corp.
Declares 50-Cent
Dividend on Common
l94l Payments Roised
To $3.50; Total Of S1.90
.Poid Since November
By tn, Associated Press

BY the Associated Press.
CLEVELAND, Aug. l9.-Republic
Steel Corp today declared 50-cent
dividend on the common stock. pay
able October 2 to stockholders OF
record September 10. This brought
to s190 the common dividends de-
clarcd since Republic resumed pay
ments last November. and raised
l941 payments to $l.50.
The directors authorized the set
ting aside of $300,0 October for
the purchase of the companys 6 per
cent convertible preferred, in ac-
cordance with Republics articles Of
incorporation.
w. w. Hancock. secretary treas
urer, and P. F. Boyer. controller,
were elected directors and vice presi-
dents.
Evening star., 1941-08-19
Georgia tobacco Sales
Rise 5000, 900 Pounds
By the Associated Press.

By the Associated Press.
ATLANTA. Aug. 19.-Late reports
today increased total sales of
Georgias bright leaf tobacco market
last week to 24,7S5. 1924 pounds, a
gain of more than 5000, 900 pounds
over the previous weeks.
Total receipts, the Agriculture De-
partment announced, amounted to
$5,286, ,599.42 for an average of 81. 80
cents. This compared with the sale
of 19,464 ,095 the week before last
the opening week-for $4,435 ,735 80,
an average of 22.79 cents.
The markets reporting today were !:
Douglas -2,537 ,568 pounds for
1888 3,534.46, an average of 21.02 cents.
Hazlehurst-938, ,902 pounds for
$166, 6,632.86, an average of IT'S.
Nashville-1,918,7l8 pounds for
$3.50, 0,245.14, an average of 1882.
Evening star., 1941-08-19
kcNarY Asks Speed
.0n Price Control
Legislation
Appeals to Congress
Majority to Right
Upset Markets
By the Associated Press.

By the Associated Press.
Senate Minority Leader McNary
called on the administration ma
jority in Congress today to consider
price-control legislation without
delay.
The administration price control
bill. introduced in both houses more
than two weeks ago, has been con-
sidered by the House Banking Com
mittee, but has not been taken up
by the Senate committee. The
House group has decided to post
pone further hearings until that
chamber completes a four-week rest
period and Senate committee mem
bers have said they would delay
consideration until the House acts.
The legislation would permit
President Roosevelt to establish CELL
ings on various prices. Salaries
would be exempted, however, and no
ceiling could be established on farm
products below 110 per cent of So
called parity prices.
'I appeal to the administration
to consider this major legislation
without delay" Senator McNary
told reporters. He added that there
now was general uncertainty be-
cause the prospect Of such legisla-
ton had "dislocated marketing con-
ditions."
There is neither a buyers nor q
sellers market because of the un-
certainty of price levels" the Oregon
Senator declared. Pointing out that
the midsummer season Is the mar
keting period for farm products,
he said. THE great forces of agri-
culture should have this uncer-
tainty removed.
I'm the name of common sense,
the price-control bill should be
voted up or down at the earliest
possible date"
Senator McNary declined to COM
nit himself on the general subject
Of price legislation, but asserted
that any measure which exempted
labor and agriculture eliminated
about 80 per cent of the price
factors.
Evening star., 1941-08-19
New York Cotton

NEW YORK, Aug. 19 (P).-Cotton
advanced today on a broadened de-
mand stimulated by reports of crop
deterioration in Texas and heavy
insect damage in the Southeast.
The higher trend also was aided
by talk of a growing belief in some
quarters that the President might
sign the cotton freezing bill.
Offerings were limited mainly to
scale up hedging by leading spot
houses, Southern selling and local
realizing.
Late prices were II to is higher:
October. 1921; March, 1851, and
May, 1855.
NEW YORK. Aug. ~ lP.-Blea chs BILE
cottonseed oil futures closed 2 to higher
Sales. lis contracts. September. IL 95b;
October. 11.75b; December. IL sob; Janu-
ary. 11.62b.
Evening star., 1941-08-19
Copper Serop Ceiling
Fixed by Henderson
By the Associated Press.

6S the A1bOClAted Pres8.
Price Administrator Leon Hen
derson today put q ceiling price on
copper scrap which, he said. has
been selling eat levels completely
out Of line with the price of copper"
The ceiling on scrap fixes price
difierentials ranging from to 4
cents 4 pound below the price of
copper, on which q maximum of II
cents was established 4 week ago.
Dealers are allowed q uniform mar
gin Of Y cent pound for collecting,
sorting. storing and shipping cop
per scrap.
Thus, Mr.. Henderson said, the
price Of scrap copper has been re-
stored to q fair relationship" with
the price Of new metal The scrap
is basic ingredient Of copper and
eopper-allcy ingots and Of electre-,
copper. both essential to del
,rSase and civilian industry.
Evening star., 1941-08-19
Chicago Grain
By the Associated Press.

By the Associated Press.
CHICAGO, Aug. 19.-Strength at
Minneapolis. some mill buying and
short covering impaired f1rmness to
wheat futures today. Prices at
times advanced about a cent
bushel before profit taking cut the
gains about in half.
The general run of the news In
spired little activity, and most trad
ers seemed content to take a posi-
ton on the sidelines to await de-
velopments at Washington.
Wheat closed 1s-Ss cent higher
than Mondays final quotations,
September 111Ss-1a. December
115%-A: corn unchanged to IA
lower, September IT, December
8012, and oats ls-ss up.
Evening star., 1941-08-19


Riggs National Bank and former
president of the A B. A. and T.
Stanley Holland, this years presi-
dent of the District Bankers Asso-
citation and vice president and trust
officer of the American Security g.
Trust Co.
John Saul, executive vice presi-
dent, and Frederick P H. Siddons,
a vice president of the American
Security & Trust Co, are also slated
to attend, and another representa-
tive from Riggs will be George O..
Vass, vice president and cashier.
Other Capital Delegates.
Others on the reservation list are
Wilmer J. Waller vice president
and cashier, Hamilton National; NJ.
r. Calnan, president, Liberty Ma
tional: Rutherford j. Dooley, vice
president and cashier. National
Bank of Washington: John A. Reilly,
president. Second National and first
vice president of the District Bank
ers' Association; Francis. G. Addi-
son. jr., president, Security Savings
& Commercial: S. William Miller,
treasurer, Union Trust Co.; Charles
H, Doing, first vice president, and
Ralph Endicott, assistant treasurer,
Washington Loan & Trust Co.
D. J. Needham, general counsel
of the A. B. A.. and his assistant.
j. o. Brott, will be among those
present and Mr.. Needham will ap-
pear on the program.
Secretary Morgenthau has al
ready been announced as speaker.
The controllers Office, Federal Re-
serve Board, Federal Deposit In
surance Corp. and other Government
agencies will be we'll represented.
National defense financing will be
one of the biggest numbers" on the
program, with P. D. Houston, A. B. A.
chief, presiding at the general ses-
sions.
Lively Trading on Exchange.
Trading was again heavy on the
Washington Stock Exchange today.
Mergenthaler Linotype was very ac-
tive at 23l4, about 100 shares chang
ing hands.
Washington Gas common reg
tstered one l00-share sale and sew
eral others at 81, while Gas pre-
ferred moved at LOG.
American Telephone rights sold at
1882 and five shares of American
Security d Trust Co. stock moved
at 23li2.
Anacostia e. Potomac SIS sold at
105 and City g. Suburban IS at the
same figure. fractions IS COM
manded los.
Insurance Sales Compared.
Sales of life insurance in the Cap
ital in the first seven months of this
year compare as follows with the
like periOds in 1910.
Evening star., 1941-08-19

June and July are the only months
80 far this year in which new poll
cies have not exceeded the figures
last year. While sales here were of
Z per cent in July, the national aver
age showed a gain of per cent and
g. gain of per cent in the seven
months
Washington was ahead of Chicago.
but dropped behind Boston, Cleve-
land, Detroit. Los Angeles. New
York, Philadelphia and st. Louis in
the July comparisons. The Capitals
July showing was better than June
when the slump was 10 per cent
from last year, the latest Hartford
report reveals.
Devine Joins Laidlaw Staff.
William F. Devine, formerly CASH
Ter of the Washington Office of Fen
ner g. Beane, has become associated
with the Office here of Laidlaw &
Co. New York Stock Exchange firm,
it was announced today by Charles
Carroll Morgan. one of the managers.
Mr.. Devine will be a customers
UIDhtIs 11t GI1t vi OhCI dkt
business ID years ago and has been
in Washington's financial district
ever since Starting as boardboy,
he has held the position of margin
clerk, bookkeeper, assistant cashier
and cashier and has been connected
with several different stock ex-
change firms during his financial
career.
Woodward Dividends Declared
Directors of Woodward & Lothrop
department store have declared the
regular quarterly dividend of so
cents per share on the common stock
due at this time, payable September
27to stockholders of record Septem-
ber 16.
The usual quarterly dividend of
S1.75 per share has also been de-
clared on the preferred stock, pay
able on the same date as the COM
mon, the stock of record date also
being the same.
Listed on the Washington Ex-
change the last sale of common
SbUCh WdS llIduc db To dllu Ill tiiC
preferred at III Yield on the COM
mon Is ASS pc rcent and on the pre-
ferred SIG.
Financial District Gossip.
A, j. Mulroney, deputy controller
of the currency. has resigned his
position to become vice president
of the Chicago Federal Reserve
Bank on September /. l.. H.
Sedlacek, chief national bank ex-
sminer in the ninth Federal Reserve
district, with Offices in Minneapolis,
has been named to fill the vacancy.
He has been connected with the
controllers Office since 1924.
Thomas j. Groom, president of the
Bank of Commerce a. Savings,
will leave here Thursday for, a vaca-
ton at Roaring Gap, N. c. M. D
Rosenberg. chairman of the board
Of the same bank. is back at his
ONCE following his recent illness.
The Pulaski TruSt Co., Pulaski
Va, has been admitted to member
ship in the Federal Reserve System
Evening star., 1941-08-19

VI tllC lilClISdli
Bankers Asso-
ciation in Chi
Cago late in Sep
tember, it was
disclosed today
in the financial
district: The list
is growing daily
as a d di t / onal
reservations are
being requested
AS the list now
stands a m on G
those who will
attend are Rob-
ert V. Fleming,
n,rociInnnt nf tho
Evening star., 1941-08-19

Appoxots Soes Of Stock. on the NJ Y Stock Exchange
1l:eo AN 10000 1900 Noon ----- 10000
800 Pm 240 900 z:00P 1900
Total Sales for the day $4,000
e
In bankruptey eceivershlp binr under
BANKRUPTCY Act securities Assumed such companies
Rates Of dividends in the foresoinr table
included - -. -
Ex dividends Ex riEhts d
n
far this PAYABLE funds
5ivIdends paid destared
Evening star., 1941-08-19
Capital Financiers
To Attend CHICAGO
A. B. A. Conc|aye
IS Already Planning
To Go; u. S. Officials
Listed on Program
BY EDWARD c. STONE.

Fifteen Washington financiers.
and probably several more, as we'll
as many Government officials, will
attend the 65th annual convention
Evening star., 1941-08-19

Believed to have thrived In the
days Of Shakespeae, a gum tree re-
Gently titled In Kooha Forest, AUS
tralia, y$slded i32 railway ties .
e-et lc-.~
Evening star., 1941-08-19

New Orleans Prices.
NEW ORLEANS, Aug. 10 R.-Trade
buying and complaints OF insect damage
from the belt strengthened cotton futures
here today and the market closed steady
12 to II points net higher,
Evening star., 1941-08-19
100000 Shares Traded.


Dealings were about on a par with
the proceedings of the previous ses-
sion, transfers approximating 100000
shares.
An attempt to keep the list on
the upgrade met with opposition
shortly after the opening and ragged
trends were the rule from then on.
A few gains and losses of a point
or so were seen at the close. but
variations generally were in frac-
tions.,
Among stocks Loew's and Para
mount established new 1941 tops,
apparently rejecting seasonal ex-
pectations of a pickup in theater
box Office receipts
Cerro de Pasco was an exception
In the copper division. getting up
more than a point. Support was
accorded General Motors, Chrysler,
Boeing. Philip Morris, Great North
ern and Consolidated Edison. Con-
tinental Motors again was a lively
performer. starting on a block Of
1900 shares, unchanged at 4.
Standard Oil Down.
Standard Oil (Ohio) was down
more than 2 at the worst. Back
ward were United States Steel,
Bethlehem, United States Rubber,
westinghouse, Santa Fe. Anaconda,
Glenn Martin and American Smelt-
ing.
South American dollar loans were
up in shaky bond department.
Most major commodities were
higher. At Chicago wheat advanced
Il to 81 of cent bushel and corn
was unchanged to off Il. Cotton, In
late transactions, was IS to IS cents
a bale ahead.
Evening star., 1941-08-19
Commodity Prices

NEW YORK. Aug. 1a-The Associated
Press Weighted Wholesale price index Of
IS commodities today. advanced to 9O.e7
Previous dayi so;54; week $50; COIL;
w. dS41; nod 4; 1s4o. Iss. 1889; las3,ss.
Eoa E1sn s9.ss s9.es ss.ss $50 sssSs III M.44
.U926 average EQUALS 100Dt
Miscellaneous Csnmedities.
other commodity quotations as COM
piled BY the Associated Press:
CoFFEE-Spot steady. Santos No. T.
13N.h; Rios No. z. oK. Cost and freight
IS 1t I3.4S-sS.
sintSs No s.,., o 5Saurss slessc s.,ss 70
her. l1.s3n: December, 1905; March,
Rio No. = "A" futures lower. No
CoCoA-Futures closed 2 to 3 higher,
sales, .e61 tons. september. Isl; De-
cent:r. 1;s2n: March, 7.72r.
lever. Sales. 1.o4o,oco pounds Sen.
tsmbsr. 14.c5b; peeemker- 1899; Spot,
no Gales IN lead ana straits tin futures.
Evening star., 1941-08-19
Baltimore Stocks
Special Dispatch to The Star.

BALTIMORE. Aug. 19.-
35o Arundel Corp iss. is. 1914
$50 BALTIC Trans pfd 3.20 3.15 3.2o
81 Consol Pow COM 5ah 59H 59A
20 Cons Pw 4ss pf IL IL IL
Is Fidelity & Deposit $50 1924 129sz
II New Amster Cas- 19h, 1914 1914
BONDS
$500 Bait Trns db 4sA III ~ ~
Evening star., 1941-08-19
Wool Futures

futures finished with small gains, today
on commission house and trade buyins
Purchases were stimulated by the record
possibility that isrser supplies will be
available for the remainder of the year
than was originally estimated.
Grease wool futures meanwhile dipped
on hedginx By Boston snot interests.
Grease wool futures closed i to 8 OF
\ cent lower.
Evening star., 1941-08-19
U. S. Treasury Notes

NEW YORK, Aur. 10 lP'.-Prices quoted
IN dollars and thirty-seconds.
Evening star., 1941-08-19
BY VICTOR EUBANK,
Associated Press Financial Writer

NEW YORK. Aug. l9.-Scattered
spots of strength persisted in todaya
stock market, but many leaders wers
unable to repeat on yesterdays slow
going recovery.
The foreign news, specifically Mos
cows admission the German thrust
was gaining momentum. served TO
chill some potential buyers. In ad-
dition the widening rift between the
United States and Japan tended 10
shift some bullish forces to the con.
servative ranks.
Yesterdays comeback. which was
attributed more to technical factors
than anything else, was bit too
timid for the liking of the sta.
tisticians who thought the lengthy
stalemate which began July %
should have been broken with more
vigor. Consequently, an assortment
of customers was disposed to stand
aside pending more light on the
markets basic structure