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A
mSSIP OF
.V,
HIGH TAX ON SHORT SELLING
AND LARGER MONEY SUPPLY
ARE CONSIDERED MARKET AIDS
Scarcity of Stock Supply Also Helps Strength in Opinion
of Prominent Broker Tax Problem Interests
Many Gossip of the Street
TTTHEN asked his reasons for the continued strength of the market a.
prominent 'downtown broker remarked esterday that as far' as he
could see' thore are no factors to which the strength could be attributed
except It be -the hleh tax on short selling, and the Increase In the volume
,-of money, combined with the scarcity of the supply.
Another broker In the uptown district said. the outlook at present
Is the most reassuring the least confusing sine this country entered the
war. The economic machinery of the nation has been mobilized on a war
basis, and business is becoming more and more accustomed to new condi
tions, and Js now running with a rhythm and smoothness which not long
ago would have seemed Incredible.
The manager of a large banking and Investment concern said jester
day that If anj thing were needed to prove the soundness of the securities
market the two events of prime. Importance which occurred were
certalnry sufficient. He referred to the German drive and the submarine
raid, each on opposite sides of the Atlantic. There was no rush to -sell,
perfect equanimity prevailed In financial circles. From this condition he
deduced that stocks In general are strongly held.
' Speaking about the effect of the tax Issue on the market, one banker
said that the excess profits tax of last jear was parallel with the greatest
wave of Inflation In currency this country ever has known, but that
England had exactly the same experience under exactly similar clrcunv'
stances. "Just as soon as the new tax becomes law," he remarked, "I
look for a bull market, If we don't have It In the meantime. According
r
to my lewB," he continued, "now Is the buying time.
- - On all sides this subject of taxation Is the absorbing topic, and the
greatest hope Is expressed that Congress will give more than usual care
In the levying of taxes so that capital will have no hesitation in assum
ing the necessary risks which it assumes In normal times.
The only serious criticism of the Secretary's plans Is not In the
size of the additional burden, as every one seems satisfied that it Is
jno larger than absolutely necessarV to meet the occasion, but in relative
"proportions of bonds and taxes by which It Is proposed to raise the
amount. It ii more frequently admitted that 33 1-3 per cent is too much
of an immediate burden to be raised by taxation by the people who are
fighting the war. Others claim the percentage Is not any too much,
' and that the countiy will never be In a better condition to pay the
neede'd taxation than nt present. They claim that It Is Impossible to
have a fixed standard of percentage In Buch cases for a longer period
than a year, and as proof of their contention point to how the war bills
have continued to rise to enormous proportions within the past few
months, with the possibility of continuing to rise proportionately during
the coming months.
It is acknowledged that In assuming that next ear's war expendi
tures will be double those of 1918 Mr. McAdoo is adopting the only
" course, and that It has taken a good deal of moral courage to do so,
as it. is admitted that It la better by far to pjace the estimates too
high than to exhaust the revenue In the first eight or nine months.
Interest in Armour Bonds
There Is quite a good deal of Interest being shown in the forth
coming Issue of 160,000,000 6 per cent serial gold debenture bonds of
Armour & Co.
" 'Townsend, Whelen & Cetf Frazler &. Co., and some other local houses
'are Interested In the .syndicate Issuing these bonds, which general
..opinion says will be. absorbed In short order.
' The notes are dated June 15, 1918, and are due serially from June
16, '191?' 1924 inclusive. (
Z" " They are' free from normal Income tax of 2 per cent, and are con
vertible at par Into 7 per cent cumulative preferred stock when Issued.
' " These debentures will be a direct obligation of Armour & Co., and
1pevlssued to retire current obligations.
t , The net earnings of the company for the fiscal year ending October
2T,-1917, were' more than $21,000,000 after deduction of all taxes and
'Interest charges.
The bonds will be sold at an average to yield about 7.15 per cent.
o
,J. Ogden Armour, president of Armour & Co., In connection with his
company's forthcoming bond Issue says: "This will be a forerunner
of many transactions of like or greater size handled by Chicago bankers.
"Armour & Co., due to the war, have had tremendous demands made
,on them for working capital In spite of the fact that In the last three
years from net earnings of over $52,000,000 more than $46,000,000 has
been tetalned and reinvested in the business.
''It Is my hope that as many aa possible of purchasers of these
debentures will convert Into our preferred stock; they will be welcome
partners and associates.
"It has long been my wish that I could Invite the public to par
ticipate' , in management and profits of our business."
Reports of Business Vary
There was a wide divergence In the reports of business conditions
In the various bond and Investment houses yesterday. Some of the
''concerns were finding fault with the slowness of business la general,
while a few exceptions claimed to be unusually busy.
The most general expression of opinion was that the bond market
! would be qulef. for the next few days on account of the payment of
$2,000,000,090 In taxes, which must be paid io the Government this week,
and which necessarily will create a demand for money. As soon as
these payments are made there should should be a gradual return to
(jiormal or better in the bond business.
There are said to be some very attractive Issues In preparation
which should be ready for announcement within the next week or ten
days. -Those desiring bargains are likely to get what they are looking
for, as some of the Issues are said to Incorporate a number of the attrac
tive features of the Armour Issue mentioned elsewhere; that Is,
privilege of conv erslon Into preferred stock, serial, tax free as far as
y Is possible to make them, to say nothing of high Income yield.
.' . "
It Js the surprise of many bankers Who have given more or less
'attention jto foreign Government bonds to And the foreign bonds offered
In this country hold up so "well In 'the face of the adverse conditions at
-the front. There Is a better outlook for the future of the Liberty issues
Utilities' Plight Serious i
"The plight, as many tVr It, of many public utilities of the country
is likely to develop Into a serioius situation soon," said a well-known and
conservative banker yesterdaj something Is not done soon.
' "I see nouemedy," h continued, "except Government ownership If
something in the form of Immediate relief Is not forthcoming."
t
The Chamber of Commerce of
ing resolution at Its sixth annual
tending u copy of It to every organization of Importance In J
.urging Fonstdeation of the Wearing of the resolution upon trie situation
iof the nubile utilities In Its community, the preservation of their credit
and they ability to continue to furnish necessary services, and request
ing thepforganlzatlons to place their recommendations before the State
and looM regulatory bodies:
"wgereas. The maintenance of the country's public utilities in the
hlghestffposslble state of efficiency is
gram
the United States, but also to
public
"1
nterests; and
ereas, Such efficiency depends upon the preservation of, the
the companies providing public utility sen ice; and
credit
"MJ
ereaa, The Increase of costs
tlons
operation brought about by
ability
the public utilities to continue the furnishing of the necessary
Bervlcesv
ey perform; ana
Whweas. The protection of the
( largely i
he hands of regulatory commissions and other public author-
Itles,
rathl
than in the utilities themselves. Now, therefore, be it
& "R801
That the Chamber of Commerce of the United State recom-
Jiirtnit ta
tea and local authorities
''leVtpjiro
namonsjwun wni,cn
J&.'W v9ij
.4h. '"
"j
AVf
THE STREET
the United States adoii
meeting;, held in'rhi!
essential not only to the war ore
the nation's business. Industrial and
and the unusually onerous condl-
the war seriously threaten the
credit of public utilities l vrv
that they recognize the unusual
puouc utilities are contending, and
- ana wim Nttts lfcy give
jil ;.... --- a 'jtar, rwr'
T-
Ed the fol-
pvv, aim to
era eountrv
mmm PUBLIC ,lKDGEK-.PHILAPELPlffA, TO-DAY, JUtfE llMil8
BUSINESS tAREER
OF PETER FLINT
A Story of Salesmanship by
Harold Whitehead
(Ctpvriaht. ttjM
i.l:;."''""V". win -M..r
BaciKiw. . i i ' "'"wcr your UKlliir,'
"nplowntnt. Aik ioiir outturn, rUnrh, and
ifrHstna and
rlearlu and
ovr eorrret inn ftnrf
AuYutr. "V ?.rA",'""!,n"0V "'' 1" tpnored.
?.""" ' 10 ttehniCAl aufiUnnm til f, .
TnoH lohieh arm m.u
fci-"--v.": "i-o, uv CTciira to an fMouinr.
WCXIl
HILU I think of It I'll Just put down
the Incident which happened last
Monday when I called on the man who
orkd for a rival paper.
We had finished working Hoboken,
and Crew Manager Slddons took us to
Olenrldge. I had been doing fairly well
the lain few dajs. although I hadn't
MTsntlnir ihf flf,n """era. a day
nad, however. h.n .tin. .... z.
uMai. - . " "-" ".I, vr eleven,
which teemed to be well up to the aver-
vJn.V !Vy ""' ca" of tne da5-- and I
..'" u.n ,ne s'Ps of. a trim, well-kept
single house, and when a woman tame
nn.i.i d00.rI "lr' with my usual
question. 'Oood morning, madam, do
dai?"0' "le Jl0on r"rularl' e"y
,.i7.h ""bman saW. "My husband" then
with a little smile, "Just wait a minute."
and uhe called him,
1 heard a man's voice say. "Well?"
A oung newspaper man to see you,"
she replied. .
He Came to thr rlnn- itrnn,,ittt nn.1
said, "What do you wqnt?'
i rememDered my Instructions of how
to ask for a man's name" . Perrv put
us up to that n .,m "if ,n ).,.
know anbod name Just say, 'Let me
see Mr ' and umially the person will
supply th name "
. ' rea!ls of courspi that it must help
to Retsjr io anvbody by mentioning
his namT.ro 1 said, "Good morning, ,lr.
Let me see this is Mr?" Did he give
his name! He did not.
His reply was, 'That's quite correct."
Thank ou." although I had nothing
to thank him for, "I wanted to know If
jou received jour copy of the Moon
regularly every day?'
"Yes?"
"You do? Doto the boy leave It at
jour door every night?"
' Go ahead "
'Go ahead with what?'
"Whj jour little storj. of course"
' Well," I began again, "I Just wanted
to kngw whether jou received the Moon
every night? '
"If so what then?'
Gee!" thought I, this Is a new one on
me I was fairly flumaxed. "Well, It
you do, whj-, that's all right."
"That certainly sounds encouraging"
"Well, sir, do jou receive It regularly?
Can I see that It is delivered to -jou
every day. 1 suppose jou like the Moon
very well, sir. Do jou read anj other
evening paper:
The quiet way In which he looked at
me got me rattled for a minute. Then
he said, 'To jour flrM, second, third
questions, 'No,' and to jour fourth,
YeB "
".Vol Yes! Saj jou've got me all
balled up." Then his wife chinned In
and said.
"Don't tease the joung man any more,
Jim "
That made me mad and I nag Just
going to make an angry retort when I
remembered some of the advice Graham
had given me and I decided to try to
keep a check on my tongue.
"just what Is it jou are trjlng to do,
joung man?" he asked.
"I am trying to sell jou a subccrlp
tloij. to the Moon," and I turned to the
woman and said, "If jour husband will
have the Moon delivered to the house
every night, madam, we will give
jou "
""Ah, now the plot thickens !" broke
In the man. The woman waited until
I finished my ftory and then said:
"l am afraid, joung man, jou can't
Interest us. You see. my husband Is the
advertising manager for the New York
Item."
"Here, have a cigar," said the man, as
he passed me a long, fat, black fellow.
I lit up and ro did he.
"Let's see, who Io jour circulation
manager at the Moon?
"I don't remember his name. I know
it's rather a long-sounding one."
"Bettengen?"
' That's It, Mr. ? '
"Munson," he replied ' Who do you
work directly under?"
"Mr. Perrj"
"Oh, Terry's doing work there again.
Is he? A mighty fine fellow la Perrj-.
By the waj when you tee him tell him
you saw me. Sometime when he is near
my office he ought to drop In and see
me."
IODAV'8 MJ8INK8K KPIQKAM
Optimlit A man -uno when hand
ed a lemon -males lemonade out of ft.
ftS, J. B Buffalo.
What does this mean to YOU?
Butinets Questions Answered
I am a younr man eighteen yeara old and
hn emnlmed for two years by & tele-
have been emploed tar two yeara by a tele,
nhnne company aa a cleric I am acqulrlnf,
hone company aa a clfrW I am acquiring,
I'belleve. a rood bualnna training, but mv
salary at pratent l not very sood and I
have received olters from other partlea at a
much better aalarj What prevents me
rrom accepting- one or inw "n" ."1"
I am not aure of the roaalblll'lea they hold,
wnlle I have a fair chance of worklns my
self up to a reaponilble poittlon with my
present emplojara In the next nve yeara
This aeema to me a Ions time but I am
coming- to vou hoping mat you will be able
to advlae me aa to what the beat plan
would be. I would also like to know If jou
think It more advisable to work with an ea.
tabltihed concern or to start with a amall
firm and stow up with It aa It .expands
n F. W . Philadelphia.
Before accepting another position
make sure that advancement Is reason
ably sure. Five years Is really a
very short time at jou age Jn which to
get a responsible position, and were I In
jour place I should feel Inclined to stick
tight to the telephone company. More
than that. I would consult with my man
agers as to. what business knowledge I
should get to fit me for a better position,
and then I would attend some good busi
ness school or university where I could
get the,. knowledge that would prepare
me for future responsibility. The man
who is prepared fdr future responsibility
Is the man to whom opportunity natu
rally gravitates.
It is a good thing to work with a
small rnnrtrn and STOW UD with it if the
concern is not doing business beyond its
capital. By tnat i mean is not trying
to do a big. business on a shoestring
Such concerns are always hard up and
in financial dllflcultj-. On the other hand,
if iha nennU at the head of the concern
are thoroughly experienced In their busi
ness and have an established reputation
for business dealing, why, that's a good
concern. . ......
Where there Is any Question at all. It
is much better to go with the established
big concern with the established good
reputation.
1 have beenery mui-u uurrcaira in inter
Fllnt'a career, particularly so aa manv of
the epkodea real Ilka bits out of my own
life. Some of th eplgrama have proveit of
r,ai ,) m me and. aa one ftood turn
deaervea another. I thought I would atnd vou
an epigram wnicn i iiwuji unw i
Here'a wishing ou good luck and Jong Ufa
to Peter and his author. E J. B.
Thank you, E. J. B , and as I believe
in passing a good thing along you will
notice jour epigram boxed above.
? am sure that among the thousands
of readers of this column there are many
who know excellent business eplgrama
To such let me ask them not to keep
good things to themselves. Send them
along to me and I will be glad to pass
them on for the benefit of others.
Don't wait for the other fellow to
start the ball rolling. Set good ex
ample and send In that good Idea which
helped you and do It before the clock
strikes again. ......
Dojou think the man who has been a
bookkeeper all hla life wilt tttjaM. t make
a aucceea aa a salesman? tlBt,t-.N ...
Unquestionably, if he wpPk to It
until he geto over the firlrfeelini; of
nervousness. I believe .we can all do
most guijthlM.wewMtt we,want
LATEST NEWS OF RIVETERS AND CALKERS !
NO PLAY AT SHIPYARD
FOR COLLEGE GROUP
Preparations to House Wooe-
tcr Men Show They Will
Have No Pink Tea
College graduates who are going to
work on the shlpways at the Pennsjl
vanla and Xew Jersey jards. at Glouces
ter. to do their "bit." have alm.irt ,..
a hit with the rank and file of Cmle I
QlHl'. t.ll .
...r Binpnuiiners ay the sacrifice of
home comforts they are voluntarily mak
Ing. Tne average toller In th i-,t. -m
have a great deal on the bojs from the
to I,. Wo,OS,Cr' ' "" ll c"ie"
to home comforts As the LOtlege re-
u.I ".7 "T'""-1'1'? their home them
ih.i" i'C' i",ow' Just wnat ' to be
,!.,,. n adnnce guard, composed of
nirh,mnrd' , I5oberl Dlckson "nd
Hlchmond nouglass. are getting the
i..fr"Sf h0USO at 320 bou,h F"th
stieet, Gloucester, readv for the ' gang,"
due o arrive here next Monday. I, r.
Bowles, for v ears athletic director" nt
booster College, will arrive day after
tomorrow with six more of this ear's
graduates to complete the Job In time
There will be no tiled bath for thp
college chaps Their tub will be an
ordinary tin Inaln with n 'hand-made
wooden bench There will be onlv about
a dozen such benches and basins for
annui sevemv bojs
-Si " r;;:r;ecovenK
mm pernaps none at all Most of the '
Wooster bojs favor eschewing all finer- I
and as they are to furnish the house
themselves the majority will have their
waj-. Nor will there be any white nap-I
num. uui me paper Kind may be tailed
upon to serve
For their weary bones at night these
joung shipbuilders will have cots of the
plain Iron varletj-, and It Is predicted
that many of these will have to do duty
in the dining room, kitchen and evert In
the cellar. The "house Is three stories,
but not ovcrlarge for seventy cots
Reception of the "hunch" next Mon
day will be quite an event. J. H Millar,
head of the service department of the
Pusej & Jones Club, Is a Wooster alum
nus, and with the advance guard alreadv
here he Is planning to give the bojs a
rousing welcome at the clubhouse Mrs
Bowles, wife of the nthlctlc director. Is
coming with them to keep house, and
their old college chef. Mrs Mogn. is
coming along, too. to prepare their eats.
No college crowd ever tackled a much
harder Job for thelt very first than these
bojs from Wooster are facing, but thej'
are of the right stuff and verj- en
thusiastic, It Is said. They are to be
distributed through the three jards
where most needed, and will take their
chances of promotion along with the
hard-fisted tollers of the rank and file.
SHIP CAhPENTER DROWNS
Man Talis Overboard at Atlantic Re
fininfi Company Plant
When K L Olfen, twentj-nlno jears
old, attempted to climb aboard the
steamship Texas Just oft the Continental
wharf at the Atlantic lleflnlng Com
panj's plant. Magazine lane and River
load, early todaj ho fell overboard and
was drowned. The body was recovered
by the crew of the nollceboat Rejburn
and taken to the Methodist Hospital and
later to the morgue
Olfen .was a native or bweden. He
was emnloved as a shin carpenter on the
Texas When he fell into the water he
S"nSrrJeach0hlnTn,,et?nre.
RARfiFS nT THFTKR I INF
HAKIMS Ui LHCi31t.lt LillMi
Companj's Steamboats All Comman -
deered by Government
Chester. P., June 11 Virtually put
out of business for a few dajs. when
tha Emergency Fleet CorDoratlon
commandeered all the steamboats of the
Chester Shipping Company, a barge line
between this city and Philadelphia has
been established by the company The
company Is owned by Senator William
Sproul and for several months the
Government has been seizing one boat
after another until last week the entire
fleet had been taken
For the first time In the history of
the company barges were purchased to
continue the business.
CAUGHT IN THE
AND
All together, gentlemen!
I've seen lots of shipping places,
Traveling far and wide
I've wandered by the Mersey docks
And on the banks of Cljde.
Countless thousand shipyard workers my
opinions share,
That none can touch for size and worth
the snightly Delaware.
Roaming In the gloaming
By the plants bejond compare;
Roaming the gloaming
On the busy Delaware
When Hog Island works with zest
And the Sun has done its best.
Oh, It's lovely roaming in the gloaming!
Louder ! Louder !
Oh, we do not have to worry.
For our cup of Joy Just drips:
We are building In a hurry
Such a splendid lot of ships.
And the way we keep on hustling
Kills the Germans with affright;
And at the week's end we may all
Look forward with delight
To beautiful Sunday!
The wonderful captured and won day!
When we see completed ships the wajs
adorning.
Oh, It's very nice.
And to life It gives a spice,
To launch a ship in Camden Sunday
morning.
Louder ! That Is to say Lauder !
I love a tanker.
A frigate or a banker,
A schooner or a barkentine or ship ;
A steel ship or a woodVn,
So long as it's a good 'un :
A concrete vessel that can make a
trip.
Right speedily we've built 'em.
Though the Hun has often kilt '-em
And some day we will settle with the
Hun.
We w 111 build a U-boat chaser,
That will prove for him a facer.
And then he'll find his business Is
done.
I love a shipyard, a bonnle, bonnle shlp
jard The busy place where victory Is won.
The home of friends of freedom
Vou can flpd, them when you need 'em ;
The place where we. lick the Hun.
And If the verses don't read smoothly,
sing 'em. That'a what Harry does.
Hog Island Is sailing to victory on
an 'even keel. She has Just laid her
twenty-fifth.
No disrespect Is meant, of course, but
we sometimes speak, of. -Hog Island aa
though she were a ken. c. .n.v - .
., ''.i 't.v -. ,tft?y,fiST-As
y
PRIZE-WINNING
sy.w ist , ,
i ann wrm,77WiK
uriiers of the l'ennsvlvania ard of the ruej & Jones lnter-Ucpartment Haseball League, who ilcfealed the
hull department s nine of the same league last Salurclav on the home diamond, score 8 to 4. Firt row, left
to right, J. Cahill, P. F. Simth, G. F. Cahill. Second row, left Io right, Cgplain B. G. Caliill, H. King, W. Ewan,
H. Dunkle, G. F. Krimm and C. Thompson
' NAVY PLANT TO MARE
TRADE SHIP TURBINES
Daniels Agrees to Let Buffalo
Factory Work for Emer
gency Fleet
Turbines manufactured at the Buffalo
ptant of the Navy Department, which
Is operated by the Bethlehem Shipbuild
ing Corporation, will be diverted to the
use ot the emergency Fleet Corporation
as soon as possible without Interfering
Ljvlth the torpedoboat-destrojer program
It In believed that the destrojer pro
gram villi be In such shape by October 1
that the Buffalo plant can build turbines
for merchant ships entirelj If this Is
done, the turbines needed at Hog Island
for Installation In tho seventy 8000-ton
combination transports and1 cargo car
riers will be produced In time by the
first of next jear.
Director General .Schwab Is assured
hy this decision of Secretary of the Navy
Daniels that the merchant ship program
will igo along swimmingly next jear.
In addition to being diverted to Hog
Island, these turbines will also be sent
to other shlpjards along the Delaware
River.
Secretary Daniels's decision to turn
over the facilities of the Buffalo plant
to the Emergency Fleet Corporation Is
contained In the following letter:
"I hereby confirm the agreement en
tered Into this morning at a conference
between the Chiefs of the Bureau of
Construction and Repair and of Steam
Engineering, representing the Navy De
partment, and Naval ConstructorkAcker
man and Messrs. Cox and Brill, repre
senting the Emergency Fleet Corpora-
t)on and r w. Powell th.t . r.-niti..
ZTV T hJ?
'owned bj- the Navy Department and
operated by the Bethlehem Shipbuilding
' L'orporatlon. those facilities shall be
aced at ,he d,gnogton of lh6 j.mer.
gency Fleet Corporation as far as this
jcan be done without Interfering with
tne aestrojer program; and that ulti
mately the shop will be turned over to
the Emergency Fleet Corporation at such
rental as may hereafter be agreed upon."
Chester Soldier in German Prison
Cheater, -Pa., June 11 Owen Dough
erty, twenty jears old. of Eddj stone,
who was one of the flrut American solr
dlers captured In the war, Is in the
Darmstadt. Camp, In Hesse. Germany
Thomas F. Hjan, of Eddv stone, has re-,
celved a letter to this effect from tho
Red Cross officials Dougherty ia lit
good health.
CURRENT
MADE SHIPSHAPE
bill calculated to discourage rent
profiteering. It has already been de
scribed In detail in the Evening Public
Ledger,
The landlord sighed for daj's of old
The days described aa salad ;
And out Hog Island way, I'm told
He sings this ancient ballad:
"Oh, dig my grave, oh mother dear!
Make It long and narrow, narrow.
The law haa shed a profiteer.
I'm killed bj- George P. Darrow,
Darrow,
I'm kilt by George P Darrow"
We hate to speak disrespectfully of
femininity, but the Mother-ship of the
U-boat is no ladj
Our new merchant marine will eventu
ally win the freedom of the seas.
The super-Clyde Is what Professor
Meigs calls the Delaware. We accept
the compliment with some reservations
Charles M. Schwab Is at once generous
In his gifts and his demands'. Mr. Piez
gets a horse. The Emergency Fleet
gets a turbine plant. The two Incidents,
entirely distinctive, are Illustrative.
Every deed of American valor "over
there" Is a testimonial to our seamen
and our shipbuilders.
SSE232EEES:
PURE
FRESH BUNT
aeieveMe
Thrift
in painting does not mean
cheap work, but good
' painting done in time to
avoid expensive repairs.
Get our jtimc no obligation
Kuehnle
PAINTER
BASEBALL TEAM OF SHIPWORKERS
,
I HEAVY TAX ON FOODS
nnnnnnnn -r m i t
rKUrUoilfl rUiv YVAivpor,lon ,n "econom-v bonds,- a proposed
i new form of Government wartime se- I
" j curlty
Congress Committee Hears
Harvard Man's Plan to
Raise More Revenue
Washington, June 11
During the hearings before the
IIoue Waj-s and Means Committee
on War Revenue Legislation Professor
O M W Sprague, of Harvard, submit
ted a comprehensive taxation plan, pro
posing consumption taxes and heavy
levies on war profits, Incomes and
luxuries
Some of Professor Sprague's recom
mendations were:
War profits, 80 per cent, ba-ed on the
Kngllsh sjstem; tea, one to two cents
a pound , coffee, ten cents a pound ; to- I
bacco. fifty cents a pound: beer, sub
stantially Increased rnte. whole wheat
flour, J2 or $3 a barrel; hotel bill", '
!0 per cent on all above J2 50 a night, '
nnd on all meals above $1 ; automobiles,
heavy rate on sales; gasoline, used for
pascnger tars, twenty to twenty-five,
cents a gallon; cmplojers of chauf
feurs. $10 to $50 a month, luxury taxes'
on Jewelrj, talking n'achlnes, dress ,
goods above a certain price, sporting ant '
athletic goods, neglige shirts costing
more than $3 ; shoes, costing more than
$6 or $8, and a graduated tax on bank
checks.
In addition, Professor Sprague
sug.
Temporary
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gesttd a super tax of 10 per cent on
Incomes, to apply unless the person re
,c?,vlnK the Income Invests a certain pro-
Benjamin C Marsh, representing the '
farmeis' national committee on war
finance, was the first witness He was1
questioned by Representative Moore, !
of Pennsjlvanla, regarding an article'
he wrote saying he had been Informed
by a memher of Congress that the reason
excess profitB had not been taxed waa
because bankers control the newspapers
and that the newspapers Intimidate
Congress. He declined to give the name
of the member.
"Do jou think that statement Is true?"
asked Representative Moore.
"I am afraid that in some cases It
l," he replied.
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OVERLAND HARPEE
A'MAZEiD'ATfltKXJ
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Party of Mexicans re Sbo
stitp runt gi
1 1 or Islands shipbuilding
amazed a party of about twi
owners, publishern and editors of'
can newspapers jesterday. tt. -The
.Maltors. who are. tourlM
i nnea states to improve tneir'i
ance with the neoule. were e
hrntigh the vard as guests of 4b j
niaics commuiee on pumic inror
Arriving I ere from WaKhlne'toi
wi taken through the big shlpya
" miniti II. , fit'iiuj tTiiint b
manager or tne stone-webter t,o
tlon; .Major James Francis Cas
Lieutenant Commander O UPlllv. '
j "It l a .wonderful lnFtltuton
I ciarwi .Manuel Carpio, eattor an
eral mana&er of the La Voz de la
melon, tne eadlna newspaper of .
Yucatan "We have had convej'ed
line enormous meaning nr lh wc
Nli'nbulMIng and are already af
telling the people of Mexico thP
"ip columns of hf pres of the
oeriui worK at nog island.
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