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January 26, 1941

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Headlines from January 26, 1941

RELIEF PROVISIONS IN EXCESS-PROFITS; Situations Presented in Advance of Regulations to Govern the Tax PROCEDURES IN 1940 CODE Commissioner to Make Adjustments Subject to Review by Tax Appeals Board RELIEF PROVISIONS IN EXCESS PROFITS

By Godfrey N. Nelson

An emergency tax measure, like the excess profits tax, is not to be expected to operate with the same smoothness of administration as the income tax. Productiveness of revenue is the primary objective of such a tax and its success is mainly measured by that quality.

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FINANCIAL MARKETS; Stocks Firm at End of Week Which Saw Industrials' Low Point for 5 Months -- Wheat and Cotton Off

By Unknown Author

A week which saw industrial share prices at their lowest levels since August ended yesterday with prices firm to slightly up on the day, but mixed on the week. Rails, however, registered their high levels for the new year.

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ALONG WALL STREET

By J.g. Forrest

With more than the required number of signers necessary to insure its beginning, the $100,000,000 Inter-American Bank will start to function as soon as an Act of Congress can be passed granting a charter and authorizing the necessary minimum $5,000,000 contribution to its capital.

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35,000 Watch Sweepida Triumph With Ease In $15,000 Added Handicap at Santa Anita; SWEEPIDA VICTOR IN RACE ON COAST

By the United Press

ARCADIA, Calif., Jan. 25 -- Sweepida kept his record intact as the leading California-bred racing horse in competition this season when he finished a length and a half in front in the $15,000 added Santa Catalina Handicap today. A crowd of 35,000 fans watched the H.C. Hill gelding come home in front at Santa Anita.

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2 PLANE CONCERNS WILL VOTE ON DEAL; Aviation Corporation Proposes to Acquire Aviation and Transportation

By Unknown Author

A proposal for the acquisition of Aviation and Transportation Corporation by the Aviation Corporation will be submitted to stockholders of both companies on Feb. 14 and Feb. 17, respectively. Under the plan, voting control of the New York Shipbuilding Corporation as well as the Auburn Central Manufacturing Corporation would pass to the Aviation Corporation.

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Plants Sought to Make Munitions for Britain

By the United Press

War Dept will ask Cong for munitions plants funds to aid Brit

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ROBERT L. IS VICTOR BY HEAD AT HIALEAH OVER GRASS COURSE; Topee 2d and Many Stings 3d as Partridge Again Wins Miami Beach Handicap PAY-OFF IS $10.60 FOR $2 Stretch Drive Decides Race -- Big Pebble, $48.90, Beats Little Risk to Wire ROBERT L. IS FIRST AT HIALEAH TRACK

By Bryan Fieldspecial To the New York Times

MIAMI, Fla., Jan. 25 -- John B. Partridge scored his second victory in the Miami Beach Handicap, the country's richest race on the grass, when his Robert L. was up to win by a head today before 14,176 persons, Hialeah's largest crowd this season. It was a popular victory with a great many in the crowd, which wagered $540,856 on the eight races.

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