The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1943-04-10
TRADE
WINDS
Take SIS. o0o, 900 900
More From Psyeheeks
New Revenue Bill Takes
In Wide Territory
British Wonder Why
So Much Politics
Diverse Opinions on
Retail Business
BY LOU SCHNEIDER

BY LOU SCHNEIDER
Secretary Of Commerce Jesse
Jones believes that we will have
initiation unless a substantial
part Of the excess spending power
Of individuals is siphoned off. This
spells out that the 1913 revenue
act viii include slightly higher
rates for individuals and that there
will be some form Of enforced
savings.
Randolph Paul general
counsel of the treasury de-
partmcnt. says that on war
time earnings Americans are
well able to pay the $4,000
oO0,0Oo In new revenue which
the government hopes 10 raise
this year-in addition 10 the
some $4,000. DOC. 900 already
legislated by the 1912 revenue
act.
It's initiation that worries the
administration. Here's why: 1913
income Ia estimated at sl35, 000.-
600 900 against s11e 900. oo0, 900 for
1912; taxes paid by individuals will
total about SIS ZOO. 900. 900; some
S77 ,ooo. 600. 900 will be spent on
whatever goods Ia available; that
leaves savings and excess funds for
wild spending to the tune Of s43,-
o0o, 900 900:
Don't show surprise If the 1e43
revenue act carries a section cali
ing for a high tax on undistributed
corporate income. The treasury
department wants IL. Business
men viii fight 1t. saying 1t would
be q blow to reserves set aside
for postwar conversion and adj
justments. Stockholders would like
It since 1t would compel corpor-
atoms to distribute large dividends
out of wartime earnings.
British financial circles cannot
understand why the American
congress shows resistance to new
tax legislation. All they see is
that the great game of politics 10
holding up the presidents plans
for raising the vast sums required
for financing the war.
The British view Ia that Ameri-
cans are ready. willing and able,
based on high wartime income, TO
meet any astronomical tax total
necessary. and sincerely hope con-
gress quickly finds the leadership
necessary to guide the measure
through TO final legislation.
A move Is said TO be on in
tool circles TO get the government
to allow attractive wartime con-
tract renegotiations on the theory
that present production volume
will be good for many years to
come and that the industry would
require large cash reserves to
carry through lean postwar years.
What win the small business
man say about this. the fellow
whose firm did not get war
orders and IL doomed 10 dry
up because there are fewer
things TO buy. sell and trade
q condition Secretary Of Com
meroe Jesse Jones warns is
slated for thousands Of small
firms:
The Wall Street Journal made
q survey of retail stores and esti-
mates that some 100000 small
units doing an annual volume Of
only $4,000 or $4,000 are hard
hit and will close; that these
owners are either going into the
armed forces or taking good-pay-
ing jobs in war plants.
Dun & Bradstreet. Inc. on
the other hand. found In its
survey that retail stores are
doing reasonably well; that
profits last year were above
those OF Iss1; that ceiling
prices aid margins of profits;
that small stores viii deal
in anything available; and.
that Is4s sales should average
better than those of last year.
The 1889 census shows there are
1,77o.355 retail firms in the coun-
try. The bulk are in the five tor
categories. food-560. 54e; filling
SIS: eating places
16e. 7e2; drinking places-135,5e4
apparel - 106, s5e: furniture - 81.
SGT: automotive-6o 1872; and drui
stores-57. pos.
Grocers report that with ra
tioning. housewives are demanding
and taking only national brands
This means private brands remain
on shelves. It's likely that chain
may reduce prices TO retain thei
competitive sales position
For the first three months of tn
year. trading volume on the Nes
York stock exchange totale
slightly under $4,000. 900 shares
That's at an annual pace Of 800,
000, 900. Total last year WAS onl
LIS, 900, 000-lowest since 1914
Most brokerage firms earne
enough in commissions TO cove
all operating expenses throug
1sz3-if partners don't run vii
and 60 on spending sprees. Bu
whatever is done. the good incom
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