Independents,
@7 Centrists,
65
National
Conservatives,
61
Moderate
Conserv-
tives,
45 Democrats
21 Bavarian
Nation-
alists
and
11
other
parties.
The
oid
coalition
will thus
have
a
majority of
26
votes.
Paris.
June 9th.
—A wireless
despatch
fromi
Moscow,
received
in
London,
an-
nounces
that
a
revolution
broke
out
at
Reeht
on
the
fifth
instan:,
the
British
troopsretiring
on Bagdad
and abandoning
Recht
without
resistance,
the
ladian
troops
not been
willing to fight the
revo-
lutionists.
The
Foreign Office has
how-
over
reeeived
no
information
on
the
subject
!
Rome,
June
9th.—The
Ministers
hav-
g
decided
to
resign
ot a meeting
held
before
the opening of the Chamber,
Pre-
mier
Nicti, f llowed by all the Ministers
entered
the
Chamber
where
four
hun-
dred Deputies
were
asscmbied
and
an-
nounced
the
annuiment
of
the
receat
decree
fixing
the
price
of
bread
at
one and
a half
lire
ver
kKilogramme
and
the resignation
of
his Cabinet.
The
an-
nonnceinents
caused
considerable
excite-
ment,
and Signor Modigliana in a speech
claimed
that
the Socialists
had
the credit
for
the
anulment
of
the
decree
and
proposed
that
the
Chamber
should
be
cailed
together
in
one
w~eek.
Signor
Nitii declared
it was
impossible
to
con-
voke the Chamber
at any fixed
date
and
the
proposal
was
rejected
by
a show
of
hands.
Paris.
June
9th.—The
Press
publish
a
despaten
frem
Rome
stating
that,
in
consequence
of representations
made
to
the Allied Governments
on the subject
of
the decisions
taken
at Hythe
concerning
the
reparations
due
by
Germany,
the
ltalian
Government
has
received
assur-
anees
that
there
was
never for a
rarment
any question
at
the meeting
of
the divi-
sion between
the
Allies of the German
in-
demnitism
such
division being
regulated
by the
treaty of Versailles,
and
that
the
Anclo-French
agreement
reached
at
Hvthe concerned
pureiy
and
simply
the
division between
ngland and
France
of
the indemnities
which will be assigned
to
them.
:
L.ondcn,
June
Bth. —Sugar
tn. stock
on
the
bth-
inst.
was
149,000
tons.
Last
year
197,000
tons.
NEw
YORK,
dune
9th
1920.
* iiour. Blended Clears
St. Lawrence
{-ran
pr.
brl.
$13.75
Meal, Kilndried per
100 tbs $4.60
New
Season’s
Pork
per brl. $42.00
Heavy
Mess
Pork
per bbl. $42.00
Sugar---Crystals
maximum
per
100
lobs
$19.31.
Volasses
Sugar
89°
test,
no
guotation.
Cotton,
Middling Upland,
at
Liverpool
per
ib. 27 84--100 d.
i;xchange,
New
York
and
wLondon,
60
.
days’ sight
$3.87
toxchange
New
York
and
London,
sight
$3.91
{LONDON, June
9th
1920.
Sioar-Demerara
Crystals,
(free of Govt.
Sd.
6-R &la
X
A V.|N
con‘rol) duty paid
per
cwt.
1455. od.
150s.
od.
Sugar
Muscovado,
(free
of Govt. control
price for June)duty
paid per
cwt.
1425. 9d
tzerman
Beet 88°/¢ 1.0. b.
no
sales.
White
Java
sugar
cif United
Kingdom
115s.
od.
ngerara
Rum,
per gal. nominal.
Trinidad
Cocoa,
Good Middling Hed per
cwt
130s,
od.
13565. od.
Cottol. Medium Fine
Sea
Isiand,
at
Liv
erpoo? per
!b. nominal
®
Bank
of
England
rate
of Discount
per
cent.
7.
‘
Consols
46%.
Three
per
cent
rentes
in Paris
Fes.
56.75.
Moscovado
Govt.
controlled
prices
for
June
duty paid
1375.
9d.
Moscovado
free
of
Govt.
control
duty
paid
110s.
od.
120s.
od.
TAXATION
OF
WAR
PROFITS
AND
CAPITAL.
A plan is said
to be developing
in
Con-
gress
to levy
a tax
ot
80
per cent
upon
business
profits
realized
during
1917,
1918,
1919 and
1920,
to provide2
fund
fcr the payment
of
the
proposed
bonus
to the soldiers.
The
plan will cateh
the
approval
of
people
who
imagine
that
these
profits
are
on
hand
in cash,
but
a moment’s
reflection
will econvince
any-
cne that
the profits
of these
pasi
years
have
either
been
spent
and
lost
or
in-
vested
in
such
manner
that
they
can-
not be withdrawn
and four-fitths
turned
over
to the
(Government
without
serious
|
disturbance
of
all
industry.
There
has
been but little unusual
distribution
of fro-
fits
by
corporations
on
account
of
|
war proiits,
and
when
such
distribution
has
been made,
the
corporations
are
not
l
in position
to pay
such
a tax.
As a
rule
such
profits
now
exist
in
the
form
of
new buildings
and equipment,
employed
l
in
production.
When
the
owners
had
|
paid
the taxes
required
of them
in each
|
of
the years
named
taey
had
a
right to
|
believe
that what remained
belonged
to |
them
and
to make their plans
according-
|
ly.
In
many
instances
they
not
only
|
invested
the
profits in construction
work
|
and
equipment,
but
went
into
debt
in
|
the
development
of their
plans,
and
ob-
[
tained credit
on thestrength
of the assets
they
were able
to
show.
Tlis
proposal
|
would
disturb
credit
throughout
the
|
country
and
cause
an
unsettlement
of
business
that
would be
far-reaching
in
|
its
effects.
If there
1s
any
one
thing
|
upeon
which
there
is
general
agreement
|
at
this
time it is that the
country
needs
!
increased
production.
and
any
public
|
policy
which disturbs
industry and
cre-
|
dit, ard takes capital from the productive
|
use,
is certain
to
work a vast amount
of
|
injury.
The
country
can
lose far
more
|
than
the value of
the bonus
payments
by
|
the method in which the money
is raised.
|
Ihe way
to raise
revenue
Ilor the
Goy-
|
ernment
with the least
disturbance
to in-
dustry
is by levies
upon
incomes
as
they
are
received
and
before
they
are
conver-
ted
into
fixed
investments.
The
Gov-
ernment
is already
taking
a very
large
percentage
of incomes,
and
thus curtail-
ing
the
amount
of
new
capital
which
would be normally
available
for
the
en-
largement
of industry.
The
evil effects
of this are to
be
seen
in the
state
of the
railroads,
the high
interest
rates
which
must
-be
paid
for
new
capital
and
the
rising
gprices
for
industrial
products.
But bad
as
these
effects
are they can
be
made
much
worse,
by
¢ '‘mpelling
every.
body who has
invested
ény
profits
dur-
ing the
past
four
years
to sell
the
in-
vestments
in order
to convey
four-fifths
0 their original cost
to the Government.
—National
City
Bank
of New
York,
Bulletin. May 1920.
OFFICIAL TRIBUYE TO FIELD MAR
SHAL HAIG.
London,
England
-The following army
order
has
been
issued:
“"General
Headquarters,
Great
Bri-
tain,
will be
abolished
with effect trom
February
1
1920.
Though
he
remains
on
the
active
list
of
the army,
and
his
services
are
still
at
the disposal f
the
State,
the
army
Council
desire
to give
expression
to
their very high
apprecia-
tion
of
the
illustrious
services
which
Field Marshal
the
Earl
Mule,. KT
O
Ch U 8 . G 0
YO K § E.,
has
rendered
to the
Empire,
both
as
Com-
mander
in Chief
in France,
and
as
Com-
mander
in
Chief of
the
forces in
Great
Britain.
Never
in
the
history
of
the
British
Empire,
has
one
officer
been
charged
with so
momentous
2a
responsi-
bility and
no
other
British
commander,
with the exeeption
of the Duke
of Well-
ington has brought
to
a
Victorious
con
ciusion
a campaign
on the issue of which
hung
the
very existence
of the State
"*His conduet
of the
operation,
and
nis
care
for
those
under
his
command,
have made
the army and
the
nation
his
grateful debtors.
The Army Council fee
sure that
the army
will join
with
them
in wishimg the
distinguished
Field
Mar
shal
a further
ong and
successfyl
caree
of
publle usetulness.”
—Baorbados
Giobe,
10th Muy.
THE STRIKER.
FROM
BROWNING'S
MAGAZINE
Everybody’s striking.
Said
the Old
Clock on
the sholf
It seems
to be the fashion
So [ think I'll strike
myself.
But striking
1s my business
Did vou ever
see
such
Juck?
I'll have
to give upstriking
Just
to show
folks
t
at ['ve
struck!
ELLA RANDALLPEARCE.