| Show QUESTION OF OF INSURANCE CE i G 10 1 CIo Decides Mutter of to 10 o Companies New York Aug mer Fol S. Former President President President dent Cleveland has Just e rendered a as s decision as ns referee in a case cas submitted submitted submit submit- ted ti-ti to him bliss b by the New Ness York Life In in- in L surnce com company pan the Mutual Life LICe Insurance In hII 11 surnce coran company of New York and andS S the Equitable Lire Life Assurance society of the United Drilled Stales in the matter of oC deductions from Crom premiums upon policies issued In Great Britain The Time K Income tax law la aw In Its England under th the interpretation given to It i b by the Jn English courts court allows those who are arc I subject to the pa payment of oC this ibis lav ta taX to deduct from Crom their taxable Incomes the thc amount paid b by them for Cor premiums r I 4 on life Insurance policies issued h by Ii 4 English companies but lut the time law has not been leen constructed to permit such deductions on account of premiums paid to American companies to mal make makeI t r I tho thu same samo lance as their British i competitors r Mr I. I Cleveland's decision Is that this 1 cannot be he l legally gal done hereafter and ane that a n continuance of or It I would constitute con- con S a l rebate un under el time the new law Mr Ir Cleveland's decision takes effect at lt once and arid under It the American i. i compan will wi not hereafter absorb i the British income tax This Tills Is quite quie t an important matter mater ana means a V radical saving sving to the American com coin panics Mr Cleveland has hns had the tho he 1 case under consideration for the past 1 sit sh months and has gone gono carefully I i Into nto all al of the Intricate questions In Ind In- In f d h |
