Show iC CO N AGREE ON HUGE W ARI AR ARIT T AX BILL Senates Senate's Rates on Excess Profits Retained Besides Allowances ances to Protect Oil Oil on and Gas Interests W v Jan 2 27 A A A basis for complete agreement on war ar u rcy revenue hill bill 1 was vas 3 u reached late to to- uy me tUC ann ami c con con- crees Senator Simm Simmons Simmon-sf Simmon n chairman of Dr the Senate managers announced that virtually nIl all important question questions ques ques- Lions tion remaining remaining- in dispute including the war excess profits rates had been agreed upon and that all possibility of pf a 3 dea deadlock lock and failure o of th the bill ha had passed sed Announcement of the conference agreement on the war profits and other basic baslo dl disputes was deferred but It was said that It would bo be boo mado made Wednesday Wednesday Wednes Wednes- day or 01 Thursday when 1 a reprint of oC the bill as finally agreed to will viii bo ho com corn The Tho cont conference rence report Is expected ex ex- to bo be presented to the time Senate Senat and anti l house ouse late lato this week and the conferees conferees con con- forces hope It will vill be bo adopted adopt d b by both bodies next week and tho bill sent to President Wilson lIson at Paris for tor his app ap ap- ap- ap p ro val liter flitter n Contest Conte Settled The basis of or agreement ag on the measure measure measure meas meas- I ure was upon three bitterly bitter contested i war war war excess profits taxes this year 1 nils Senate allo n to ro ll t I gas gas Interests and tile A Senate amendment amendment amend amend- ment meat to repeal tho time existing zone Toone system tent tem of oC second-class second mall mail rates It wa was learned that In harmonizing difficulties difficulties ties on these basic disputes tho the conferees con con- agreed to an Increase o of the tho Senate war excess pro profits ra raes es adopted adopt adopt- ed the tho oil provision substantially as I provided pro b by the Senate and eliminated t the he second-class second mail mall mailmen amendment men m nt The Tho agreement on war excess profits rates for 1919 It was stated provided for tor retention of ot the Senate rate of ot 30 0 pe per pes- cent on corporations' corporations not net Income In lit excess of ot credits and not In excess o of 20 0 per cent of oC Invested ca capital Hali for Cor In Increase increase In in- I crease from 50 10 to 6 63 per cent on Income and for tor re retention re- re In excess of ot 20 O per cent of ot the SO 80 per cent tax on war profits The higher rates r were wre strongly strong strong- ly urged b by b Representative e I and others of tho the mana managers ers r. r Oil Men en Protected The TIme Senate conferees es were reported to ha ha hawon won their fight for tor or retention of ot tho time Senate provision for tor a tax exemption exemption exemption tion of or 20 per cent on bona fide Ide sales Jales of oil on and gas s wells and mines This provision designed to protect and stimulate slim slim- ulato prospectors was as opposed b by tho time House managers as too liberal but tho they Senate conferees con con- finally yielded after the tho forces had accepted the higher hiher rates on war excess profits Elimination lon of oC tho the class cecon postage postage postage post post- age amendment had been generally ex ox- ox peeled The Tho proposal has ha been bitterly opposed by Representative o Kitchin and I others of time tho ho house conferees It provided provided provided pro pro- I repeal of oC thu tho present zone zono vided tor or I rates on second-class second mall mail based on the proportion of ot news and advertising and for Cor substitution of or a n new zone plan within with with- of ot t i cent a pound on periodicals in the first and second class parcel post 1 U 1 cents a pound beyond that U rm fl fl v radius d T The 1 e present rates mates have havo been vigorously vigorous attacked ed by publishers as unjust and In some sonio cases calies Miner lIner Clause Un Uncertain With the basis reached for or settling these three vital disputes l. l agreement on other othur provisions of ot time the bill still left regarded as certain Among wan waR these are arc the amendment to prevent into importation of or Intoxicating liquor tho the District of or Columbia for Cor beverage purposes the amendment of oC Senator Thomas of ot Colorado levying a tax of or campaign contributions contributions contributions con con- political per cent on In excess of ot and that Trammell of ot Florida to al allow allow al al- of ot Senator bonus ot of ono one months month's pa pay and ami low lost a from the uniforms to men dl discharged ch military service Conferees said the tho nt would be re retained ro- ro dry bone bone dr amendment tamed but the fate fato of the time others was in doubt u be bo amendments remaining to acted Other upon are arc several of ho he so-called so of oC the Senate war relief provisions section some dependent excess execs profits of ot agreement on rates the basis basi upon admin admin- I Reached b bv by the Many Ian reached for tOl I remain also provisions pro final Inal action |