Show E BILL several important amendments introduced by senator vest opinions advanced that tariff bill Is to yet encounter pitfalls in the senate washington may 4 senator vest today offered amendments to the income tax features of the tariff bli the object being to relieve individual investors of in corpor attona and have the profits of corporations po rations taxed instead of compelling individuals to exhibit books abo assessor anay estimate the mount of income and the person so assessed may appear and prove ho his been assessed too bieh if each is the case the changes in detail are sections 19 CO and 01 are stricken out and the following sections substituted there shall be levied and collected a tax of 2 per cent per annum on the profits or income of the ordinary working or operating expenses of nil banks banking institutions tut ions trust companies savin institutions alre marine life and other insurance companies railroads canals turnpikes canal navigation lack water telephone telegraph electric light gas water railroad companies and all other corporations companies or associations doing business for profit in the united states no matter bow created and organized that said tax shall be paid on or be fore the first of july of each year and if the president or other chief officer of any corporation company or association shall neglect or refuse to file with the collector of the internal revenue district in which said corporation company or association shall be located or engaged in business a statement verified by his oath cr affirmation bowing the amount net profits or income received by said corporation company or association during the whole calendar preceding the date of filing said statement as hereinafter secured such corporation company or association makina default shall forfeit as a penalty the sum of 1000 and 10 per cent of the amount of taxes due for each month until the same is paid payments of said penalty to be enforced as provided in other basea of neglect and refusal to pay and taxes th profile or income of all corporations companies or association shall include amounts paid to shareholder and bondholders or holdena of certificates of indebtedness of kind 0 ft carried account of any funds used for the construction st t of plant or any other expenditures or investment representing the net anabal profits made or acquired by aid corporation company or association that nothing herein contained shall ap ply to counties or municipalities nor or associations organized and conducted charity religion or educational purposes nor to stock shares funds or securities hold by auy judiciary or trustee for charitable religious or educational purposes nor to such building or loan associations as are organized under the laws of any state the district of columbia which makes loans to their shareholders to enable them to provide for themselves homes the above is substituted for sections 59 and 01 of the tariff bill in which section 59 ie provided for a 2 per cent tax on banting and like corporations section 60 provided how the tax on euch should be levied and collected section cl provides for a 2 per cent tax on the interests on stocks dividends or profits of railroad telephone gas and like tigue and provides how it shall bo collected the other amendments insert the word willfully id the provided penalty for the failure to make statements in many case the amendments put corporations companies and association upon the same level as individuals giving them the privilege of proving the amount of income where the statement is increased by the revenue agent it also gives to corporations companies and associations the rights granted to individuals to appeal from the deputy collector and from the collectors decision to that of the commissioner of internal revenue that relieves them of assessment penalties as it does individuals except upon reasonable colico of the allne and place of hearing the salaries of state county and municipal are relieved from the operations of the proposed tax law an amendment providing for a time limit of the oper in section st and 60 gives the of the tux shall begin on june and end on january amendment is made to section 65 which is as ae follows it ie also that in the in of any person corporation company or association there shall not be included ithe received froni any corporation or or interest or dividends on bond or stocks of euch corporation company r association if the tax of 2 per cent haa been paid on its net profits by ald corporation company or association as required by this act the clause in paragraph 69 requiring estimates to be made apoi the shares of persons in the gains or profits of companies in levying the income tax Is at ricken oat the intention of aliese amendments Is to prevent double taxation upon incomes received from corporation amendments we made to section ca providing for returns of corporations as to include com anies and and place them upon the terms under the law as corpora lions the truce washington may 4 notwithstanding the truce agreed upon by democratic and senators whereby it wae agreed that on the tariff should until next tuesday there haa not been day when there aoa bolder talk and protestations on the respective idea of the chamber than today while be republican equators have allowed the Bemo crai to infer that when the amenn abenia arc publicly announced and the ate enhance efti to pass the bill given they will bield to the majority they privately that they know that the necessary votes cannot be and declare the democrats tn the senate gradually approaching more serious trouble than they nave yet encountered and in making able statement they assert that maraby and smith are doubtful as hill in the japport of the bill as it is Bi ended the democrats express the erea lest con in the of the bill senator kner beld today he inal would become lw before alie lock of june and that would adjourn by the fourth of has put in in atee room and has had senator vest ath atai part of the time The been engaged principally on the wool and rotten eh edue mula interested himself tn te and there Is little dolbt that he will secure more liberal concessions than have been granted congressional proceedings the senate washington may 4 the apen session of the senate today lasted until 2 the unie was consumed entirely by quay who pave another chapter 0 bis serial speech on the tariff ballinger Oal linger remained by his eade constantly rel levine abe penn at intervals by reading such extracts as quay desired to insert in the remarks the balance of the day after 2 was behind closed doors fn extra session at abe senate adjourned the house washington may after the reading of yesterdays journal the speaker laid some bills from the senate before the house at 1330 the house went into committee of the whole on on motion of catchings to consider the river and harbor bill hatch in abe chair asked unanimous consent that the house should continue in session antil for the purpose of completing consideration of abe river and harbor bill when he would ask that when abe house adjourned it would be until monday this was agreed tu and consideration of abe bill was resumed consideration of abe bill without action being on further amendments was continued until shortly after when the committee of the whole arose reported the bill to abe house and it was passed thereupon a recess was taken until 8 for consideration of private pension buis |