Indianapolis Times, Volume 39, Number 165, Indianapolis, Marion County, 18 November 1927 — Page 21

NOV. 18, 1927_

TAX CUTS MAY EXCEED FIGURE MELLON FIXED Passage Before Christmas Expected in House; Senate Feared. BY THOMAS L. STOKES United Press Stall Correspondent WASHINGTON, Nov. 18.—The new tax reduction bill is expected to eb completed by the House Ways and Means committee by the end of next week, ready for introduction at the opening of Congress. It will receive right-of-way in the House and should be passed there before Christmas. Reductions provided by the bill as it passes the House will total about $300,000,000 or about $75,000,000 more than desired by the administration, it is indicated by the views of House leaders who will steer the measure. No one ever can predict what the Senate will do to a tax bill, but it probably will not lessen the reduction and Hay increase it. Mellon’s Wishes Not Followed As sentiment shapes, up, it appears that the bill will provide: 1. Repeal of theater admission taxes anr club dues and probably repeal of the automobile tax. 2. Reduction of the corporations tax from 13% per cent to 12 per cent, certainly, and probably more. 3. Retention of the estate \ tax, whose repeal Secretary of the Treasury Mellon asked. It was also predicted today by Representative Garner (Dem.) of Texas, that the bill would provide no reduction in the intermediate brackets advocated by Mellon, though it is known that administration leaders in the House, as well as in the Senate, vfill make a strong tight for this reduction, which would effect fairly large incomes. Aimed at Evaders The committee today had written into the bill certain amendments to Section 220, aimed at preventing holding and investment companies from evading taxes by leaving their profits in “dummy” companies instead of distributing their profits. One amendment provides that personal holding companies which retain above 30 per cent of their net income shall be taxed 25 per cent on the amount undistributed. This applies to corporations and holding companies having ten or less stockholders in control of 80 per cent of stock and deriving 80 per cent of their income from rentals, royalties, etc. It does not apply to dealers in securities. . Another adopted amendment provides that other forms of corporations retaining 60 per cent or more of their net income in their business must show the treasury why they should not be taxed. Otherwise, the 50 per cent tax provided in the section will be levied.

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General Banking The Meyer-Kiser Bank 128 E. Washington St.

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No Bananas So Disappointed Pair of Youths Set Fire’ to Vendor’s Truck.

EHERE were no bananas in the fruit truck of Mike Meo, so a 13-year-old boy burned it up. This was the gist of confessions obtained in the arson division of the Stat fire marshal’s office from brothers, 11 and 13 years old. On Oct. 31 neighbors saw the Meo garage, at 521 S. East St., in flames. A woman saw a boy

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Enjoy Thanksgiving Rates to Lima, Ft. Wayne, Huntington, Warsaw, Goshen and to all points on Union Traction Lines will be Fare and One-Half the round trip. Tickets on Sale Nov. 23 and 24, Good Returning Sunday, Nov. 27th Union Traction T. J. GORE, Agent. Phone MAin 4500.

From her meager description Arson Investigators Harry Gould and Daniel Green of the fire department and Deputy Firo Marshal Harry Gates traced the crime to the brothers. The younger boy, after a grilling Wednesday afternoon, confessed and then the older talked. They had been stealing bananas from Meo’s truck as they went downtown after school. This afternoon the truck was empty, except for hay in which the fruit had been packed. This made them angry. The

Puts An End To Bunion Pains No Need to Suffer Another Day There is one simple yet inexpensive way to reduce inflammation of swollen toe joints and help get them down to normal and that is to apply Moone’s Emerald Oil night and morning. Ask Hook’s Dependanbe Drug Store or any first class druggist for an original two-ounce bottle of Moone’s Emerald Oil (full strength) and refuse to accept anything in its place. It is such a highly concentrated preparation that two ounces last a long time and furthermore if one bottle Emerald Oil does not give you complete satisfaction you can have your money refunded. Special note: People who want to reduce swollen or varicose veins should get a bottle of Moone’s Emerald Oil at once. Applied night and morning as directed they will quickly notice an improvement which will continue until the veins and bunches are reduced to normal. —Advertisement.

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THE INDIANAPOLIS TIMES

older brother boy lighted a cigaret and tossed the match into the hay. They will be turned over to juvenile court. DOPE VENDERS CALLED WORLD’S WORST EVIL NEW YORK, Nov .18.—Persons supplying drugs to the slaves of the habit are the most vicious and dangerous menaces to society, says Ralph H. Oyler, Federal narcotic

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SPECIAL RATES Account Thanksgiving Vacation Via TERRE HAUTE, INDIANAPOLIS & EASTERN TRAC. CO. Fare and One-Half for the Round Trip Tickets good going on November 23rd and 24th. Tickets good returning any time up to and including November 28th.

agent, in an article in Liberty Magazine. The Harrison Narcotic Law passed by Congress thirteen years ago, Oyler explains, which prohibited the retail sale of narcotics except on orders from a doctor, has made it impossible for the dopepeddler and the addict to procure supplies made in America. “During the last four or five years practically ilUcit drugs have been brought here from Europe by huge syndicates which operate in several countries, with the utmost secrecy.”

A su*** 188 1 1C I to* _ I 4j, * I PACKAGE* I - R I & 03 1 IS "SI AiSIS.tSfS I a- is --"■ | T ■ =£'”’ ' ..c-o ” 0 """ | SS 4 See Our A Windows I Another Opening Day Special! HUff I MANY DOLLS Laß 9-Piece Toy Tea Set Included Mfflj With Each Doll jUI cnt 'l re stock of 1927 ranging from 25 to m Price is a nine-piece S A See Our A , Jjl® ngi Windows Npw WMMiyjJHP 1 ||| iwiiiiim.nl ■ B 1 HOURS ONLY! I m ' l|| 11 to 1 o’clock . I , | ii £ H Smoking Cabinoi I A ■ HamWor I t i U i fSraeli | 1 inets, equipped with R lj . B| MM H copper humidor ands , • ||l |(| [|| S nickeled smoking {J,j|| lirijH l| 19 *j cigarette Jar, match l i |||) | T |raM ■ box holder and ash jA ijP V ML 1 dily built of cabinet 'lljttl'1 1 jUjf -<■ ■ wood finished wal- j jjpt T|T

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