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Show commercial banks was 155 times that paid by the saving's and loan associations. Commercial bankers welcome wel-come fair competition. That is why we want Congress to remove re-move the tax subsidy now enjoyed en-joyed by savings and loan associations as-sociations in order that commercial com-mercial banks and these associations as-sociations may compete on equal terms. Issues confused, reports banker The U. S. Savings and Loan League has clearly indicated that it is at odds with the statement made by President Kennedy in his message to the nation last wek. The American Bankers Association As-sociation stated today that the U. S. Savings and Loan League was attempting to confuse the annual average of 1.4 per cent of net income. In 1959, the latest year for which figures are available, they paid less than 1 per cent of net income in taxes, while commercial banks paid almost 32 per cent. In 1959 insured commercial banks paid $832,797,000 in federal fed-eral income taxes while in that same year member savings and loan associations paid fe 'eral income taxes totaling only $5,-346,000. $5,-346,000. In other words, the federal income tax paid by the issue of tax uniformity among competing financial institutions by issuing misleading statements state-ments to Congress and the press. The A.B.A. statement, endorsed by President F. C. Packard of Springville Banking Bank-ing Co., who has served in an official capacity in county, state and national banking organizations or-ganizations reports that the so-called facts set forth in the TJ. S. League's most recent release re-lease are merely conjectures on the part of some savings and loan officials. The terms used such as recession, shock, chaos, devastating impact, and so forth, are crudely calculated to mislead Congress and the public. pub-lic. "There are some real facts to be considered by Congress and the public in determining whether the Treasury conclusions conclu-sions are valid: Between 1952 and 1959 insured in-sured commercial banks paid more than $6,700,000,000 in federal fed-eral income taxes or an annual an-nual average of 39.0 per cent of net income. This contrasts with less than $40,000,000 of income taxes paid by Federal Home Loan Bank Board member mem-ber savings and loan associations associa-tions during this period or an |