Show W WALL WALLSTREET STREET IS JOYFUL Measure of Relief in Bill tr Passed at Close of Congress I j NEW rORK YORK ORF July A A discovery just made that section 4 of of the measure known as the religious bequest bill which was was was' passed by by Congress In th the th closing days daR of or the session and approved approved ap ap- ap- ap pro proved prod d on June Z th contains a a. provIsion provision provi provI- sion zion for the n o taxes on call loans has caused gr great at jO Joy In stock ex ext exL change circles cirches Wall Wail all street treet was u-as s thrown Into a ferment ferment fer fer- fer- fer ment in February last when Int Internal Re Revenue nue Commissioner Yerkes under date of February made a 0 ruling that call loans w were re taxable under the I war revenue measure Security prices broke sharply on th the first announcement announce announce- ment meat of ot the Commissioners Commissioner's ruling and and I although this never ha has hIlS been enforced nn an action to determine the legality of the thc ruling Is still pending Had the Attorn General Attorney supported d the ruling of the Internal Revenue Re Commissioner with a a. confirmatory tor de decision ne- ne b by the courts and the tax been allowed to stand on the tho statute books the result would have been disastrous for or many of the large larg Brokerage houses houseR of oC this city since man many of them would have have- to pay from to In back taxes I |