HOOVER AND MELLON STILL HOLD OUT HOPE OF KEEPING TAX CUT; President Declares Predictions That Reduction Will Be Abandoned Are Premature.'NO GROUND' FOR STORY NOW Administration Appears Ready to Apply Foreign-Debt Interest to Current Expenses.SEES A $75,000,000 SAVING Democrats, Through Hull, Declare "the Myth" of a PermanentTax Slash Is Exploded. Party Chiefs Disconcerted. The President's Statement. HOOVER AND MELLON HOPEFUL ON TAXES Mellon Points to Surplus. Could Borrow for Farm Board. Wait on Situation in December. Criticized by Democrats.
Statement on declarations of Pres Hoover and Sec Mellon that income-tax cut predictions are premature