Show GOVERNOR PROTESTS STOCK TRANSFER TAX Protest against the proposed tax on stock transfers was lodged Tuesday Tuesday Tuesday Tues Tues- day with Senator Reed Smoot by Governor George H. H Dern Dem Governor Dern stated that the minimum tax of 4 cents a share written into the revenue revenue revenue reve reve- nue bill by the house of representatives representatives representatives would destroy the market for cheap mining stocks and would deter prospecting and development Governor Dern suggested to Senator Senator Sen Sen- ator Smoot that the bill be amended for the protection of the mining in in- in dust His Ills letter follows in full If Ie newspaper reports are correct the revenue bill as passed by the house of representatives provides for forthe forthe forthe the levying of ot a tax on all stock transfers with a minimum of 4 cents per share You are of course aware that a great many of our local mining min mining min mm- ing stocks are in the low price class and often sell for less than 4 cents a share Such a n minimum tax would absolutely destroy the market for cheap mining stocks and in my opinion opinion ion would deter prospecting and development de de- de You are familiar with the method in which mines are promoted and developed developed developed de de- de- de in this state and I am sure I need not discuss the subject further further fur fur- ther than to merely call it to your attention It seems to me the bill I should be amended for the protection of oC the mining industry |