Show COMPROMISE ON REVENUE SOUGHT SOUCHT Mining l Corporations Set 12 Per Cent Exemption on oil Excess Tax Tat T x By Br Universal S Serice Washington Au Aug 20 ln in in the of Inducing Secretary McAdoo to a l compromise compromise compromise com com- promise on tho the matter of or profits and excess profits rates the House ways and means committee toda today submitted to the tho treasury treasur department another series of oC sus suggestions on this feature of or orthe the revenue bill Secretary McAdoo has already expressed expressed expressed ex ex- ex- ex pressed disapproval of or the committees committee's purpose to Increase the excess profits rates to 40 and 60 per cent 1 bo so 0 the committee now suggests changing the Deductions and exemptions In tho war profits rates to equalize the burden that would be Imposed upon business If ii the excess profits rates ratos were allowed to stand The previously decided upon classifying all corp corporations corporations corpora corpora- ra- ra into three classes as fo lows follows lous lou's Transportation and financial with an exemption of oC S per cent manufacturing manufacturing turing with an exemption of or 10 per percent percent cent an and mining and similar hazardous hazard hazard- ous occupations with a I 12 per cent OX- OX emption I At today's meeting the committee decided ed to ask the treasury officials whether they would agree to change this to two classes one of oC which would include transportation and public utility util lt It ity corporations with an exemption of S per ct cent n t and a all II others In th the e s second cond cl class s with a 10 per por cent exception Chairman l Kitchen Kitchin announced that the committee has hils completed work on the bill with the tho exception of tho the war profits and excess profits sections and some sonic administrative features real which have ha yet to be bo worl worked e out The bill probably will not be reported to th the House b before fore Monday A new now section providing for the ap- ap appointed by the tho speaker of or the House to supervise the drafting of or all revenue bills hereafter was adopted One member of ot tho ho board Is to be bl appointed b by th the tho speaker of or the house and the tilt other b by the tho vice president They will have ha authority to employ such additional help hole as may be bc needed |