Show I 1 FURTHER CUT SE SECRETARY MELLON CLOSES BOOKS ON FISCAL PERIOD OVER surplus jumps beyond estimates but ut falls to reach coolidge count income tax collections were above those of lost last year washington secretary mellon reported friday a government surplus of for the fiscal year just closed A record collection 0 of customs totaling as well wall as aa a heavy income tax yield amounting to swelled tho the treasury fund tar far beyond tile alio needs of the government tho the surplus recently forecast by president coolidge for tile the year which ended thursday tailed failed to materialize however as a result of last minute disbursements to moot a fico department deficit and tax I 1 refunds funda rc at that it was mare than three times the total estimated by administration officials in february the tha total cost ot of government during tile tho last twelve months exclusive of at debt retirement charges was a reduction of about from the year year previous tho the surplus wah immediately applied by secretary wellon mellon to retirement of the public debt cutting it to and making the total reduction in the debt for tho the year income tax collections were 65 above those of a year ago despite the reductions in rates provided by the now ro revenue law which was effective in the I 1 last ast two quarters of the fiscal year behr miscellaneous taxes many man Y of which were repealed by the law produced tor for tho the year compared with the year previous customs receipts ft a year ago totalled to or less than the record collection of the year just ended tho the previous high point tor for tariff receipts was reached in 1923 when was collected general expenditures by the government last year to compared with during the previous twelve months other expenditures ran about tho the same although the adjusted service certificate till fund to take care ot of thonol tho soldiers diew bonus required last year as compared with the year before tax refunds were compared with the previous year |