Show 4 az wo f 9 ff P lesui ws lc sui summarizes THE WO WORLDS WEEK 4 0 western newspaper union tax setup needs revision D TANIEL ANIEL C ROPER secretary ot of commerce says the entire tax structure of the united states should be revised he was speaking at a banquet of the business advisory council in chicago and his statements appeared to meet with general approval A general revision 4 is necessary to 11 1 1 simplify determination ot of tax liability ito to distribute the burden Y im of taxation more equitably and to sec roper broaden the base ot of taxation to include a larger percentage of our earning population secretary roper said he asserted that the undistributed profits tax had not entirely fulfilled its proponents expectations that it would bring about a higher velocity of money through larger and more widespread distribution of corporate P orate barnin earnings s mr roper expressed condid confidence ence that a constructive approach will be found to the solution of the utilities dilemma and that significant results will be forthcoming that this confidence has a sound basis was indicated by two announcements noun cements made the same day by prominent utility executives floyd L carlisle chairman of the consolidated edison company told the new york state public service commission that his company plans a expansion program the development came during hearings concerning a proposed bond issue back from submitting to the president a formula tor for better understanding between utilities and the administration wendell L Wi willkie Will likic kic president of commonwealth and southern corporation proposed a general truce between business and the roosevelt administration will kies company has been involved in some ol of the bitterest controversies with washinton washington ton building boom wanted D R of the existing housing law in order to facilitate a building boom was asked by president roosevelt roosevel t in a special message to congress he said such legislation would ease case the flow of credit and open great reservoirs 0 of f idle capital to fight the business slump the responsibility for the success of such a program he placed squar squarely cly on labor aind and industry specifically the president recommended changes in the housing act which would I 1 reduce from 5 per cent to 5 per cent the interest and service charges permitted by the federal housing administration on loans made by private institutions 2 authorize the housing administrator to fix the mortgage insurance premium charge as low as of I 1 per cent on the diminishing balance of the insured mortgage instead of on the original face amount and to A 14 of I 1 per cent on the diminishing balance of an insured mortgage where the estimated value of the property does not exceed and where the mortgage is insured prior to july 1 1939 3 increase the insurable limit from 80 to 90 per cent in cases where the appraised value of the property does not exceed 4 facilitate the construction and financing of groups of houses tor for rent or tor for rent with options to purchase through blanket mortgages 5 clarify and simplify provisions for or the construction of large scale rental properties through facilitating their financing 6 grant national mortgage associations ciati clat ions ons explicit authority to make loans on large scale properties that are subject to special regulation by tile the federal housing administrator 7 remove the july 1 1939 limitation on the permitted to be outstanding in mortgages with congress eventually limiting tiie the insurance of mortgages prior to the beginning of construction of individual projects 8 permit insurance for repair and modernization loans as provided previous to april 1 of this year when this provision ot of the cousin housing act expired 41 civil service plan H hit P PRESIDENT RESIDENT ROOSEVEL TS pro 1 dosal that a single administrator be substituted for the three man civil service executive board was severely criticized by the brookings institution as tending to invite encroachment croach ment of politics rather than to repel it the institution report dratted drafted by lewis meriam questioned the feasibility of the plan a and nd doubted whether it would achieve the presidents purpose of taking the civil service commission out of politics religious and political affiliations would present difficulties in selection of a single administrator the report pointed out adding thai that the proposed plan would represent too much centralization of power in an individual for corporation co control nf arol ot of wyo J ming and borah of idaho introduced a new federal lie licensing ensing bill for all corporations engaged in interstate ter state commerce it is designed by its authors and other senate liberals as an answer to the administrations demand for revision of the antitrust anti trust laws ato to curb monopolies 1 the borah oma honey honey scheme is designed not only to eliminate in 0 n 0 p senator holistic practices but to abolish child y la bor prohibit discrimination against women employees guarantee collective bargaining serve as a basis for further legislation dictating the wages and hours of labor and regulate the financial policies of corporations po rations the measure would require the immediate licensing of all corporations doing business in interstate commerce e and would direct the federal trade commission to submit recommendations tor for a federal incorporation po ration law under existing statutes corporations are created only by the states farmers grain corp quits resolution calling for dissolution A of the tar far flung farm marketing agency the farmers national grain corpora corporation tion will be put up to stockholders at a special meeting next january 24 J 0 mcclintock vice president announced according to the proposal marketing operations now conducted by the national group would become the independent functions of the individual state slate groups probably centered around the 11 regional offices of the association the federal government has furnished most of the money to finance the corporation activities over the last eight years and will be tile the principal loser through the dissolution of the corporation helps anti red pact ITALY formally recognized the government of Manchu kuo puppet state set up by japan and tokyo was delighted it was expected that Manchu kuo would now join in the italian german cerman japanese pact against communism and its geographical location would make such action of considerable importance bus bpi strike skilled INCREASED pay for or drivers but no closed shop were main features tea of the agreement by which the tha six day strike of 1300 drivers of 0 the greyhound bus line was brought 1 to an end the strike had disrupted transportation in the northeastern section of the country and was accompanied compa nied by numerous incidents ot of violence the wage increase effective next july 1 will be one fourth ath ot of a cent a mile and no minimum mileage is guaranteed the union had demanded a flat rate of 0 55 cents a mile with a mile a day guarantee snaring uncle sam T THAT HAT great britain is seeking pox lotical as well as econom economical cal advantages from the proposed trade pact with the united states was indicated in an address by the earl ot of derby before the liverpool chamber of commerce of which he is president he told the chamber that america cannot keep out of european entanglements entangle ments and predicted that the trade pact would tighten the links between the united states and great britain derbys speech followed one given by herschel V johnson american charge daf faires in london during which johnson warn warned cd indirectly that the americans would not permit it the pact to have political strings farm bill reported I 1 M ARVIN JONES of texas chair iv 1 man of the house agricultural committee submitted the houses farm bill together with a majority report defending the measure and calling for speedy enactment so that the rise of mounting crop surpluses which are depressing market prices may be offset the house bill is less drastic than the senate version but it was denounced vigorously in a minority report which declared it was unconstitutional unsound un amerl can likely to work to the detriment I 1 of american agriculture and threatening to dislocate foreign and domestic markets both house and senate bills it was predicted would be modified because of the presidents implied threat to veto the legislation unless it was put on a pay as you go basis he insisted the farm bill must not interfere with his plans to balance tile the budget K i no time for tax revision HERE is no use kidding the J country said senator barkley majority leader 0 of f the senate as he gave 0 out ut the sad news that r it il would be 1 j ble to t formulate and pass a tax revision bill in the brief time remaining to the extraordinary tra ordinary session of congress the 4 4 senator had just been conferring with ta the president and 6 K 1 k 1 his statement dashed ea Q ilsa the hopes OI of those ase who believe ailing sen barkley business us mess is in hi dire nee need dof of such assistance as revision or repeal of the tax on undivided corporate surpluses and capital gains mr air roosevelt had said he was in favor of tax revision as soon as congress was ready tor for it but such legislation must originate in the house and the subcommittee of the ways and means committee that has been studying the subject had not yet reported so it appeared almost certain that action must be postponed until the regular session which starts in january vinson to be judge P PRESIDENT RESIDENT ROOSEVELT sent to the senate the nomination of representative fred M vinson of kentucky tuc kyto to fill a vacancy in the united states court of appeals tor for the district of columbia the post carries a salary of a year the same as paid a representative but the appointment is tor for life and an carries retirement ti privileges mr air vinson who has been an outstanding tax expert of the house is forty seven years old and serving his seventh term his home is ashland ky the president also nominated associate justice D lawrence groner of virginia to be chief justice of the court creating another vacancy croner will be succeeded by henry white edgerton of new york whose nomination also went ent to the senate c small town spending A automobiles ODILES more food and better clothing are the most urgent desires of small town families that was the implication presented in a matter of oi fact analysis of surveys of the spend spending ng habits of families la in 46 villages in pennsylvania ohio michigan wisconsin illinois and iowa the study made by the bureau of home economics showed that when income increased among these cross section village families it was usually followed by a rapid rise in expenditures for food and clothes and even more marked jumps in the proportion of income spent on oil automobiles in income ranges from to 2499 food expense for w wage age earn ers families jumped from an average of to an average of clothes from an aver average age of 25 to an average of expense for the family car from an average of 14 to an average of |