Treasury Officials Explain Provisions New Tax Bill The New Plan Provides a Scheme That Will Not Make a Hole in the Treasury at the Present Time?Le gal Contest on Bill Is Predicted. Bjr DAVID I/.\WRK.NCK (Copyright. 1924. By Tti? Ainiwtl Washington. May 31.?Treasury officials today explained the method by which taxpayers would calculate! their next payments on June 15 ifH | the conference report adopted by! Congress in approved by President! Cooltdge. .-which now is certain. Instead of permitting the taxpayer! to take a 25 per cent reduction on his 1923 taxes In a lump by omitting! the June installment, the new plan provides for a scheme which will notl make a hole in Treasury receipts at I this time. The method Is as follows: The taxpayer has the option ofl paying his taxes In full and If he did I so on March 15 he will receive a I credit of one-fourth. If he pays hisl taxes In quarterly Installments, he will be allowed on Ills June 15 pay-fl ment a credit of one-fourth for that I payment and one-fourth for the pay-l ment which he has made In March. I In other words, the one-rourth re-B duction of 1923 taxes will be allocat- I ed in four equal parts but In view of the fact that the March payment i I has been passed, the taxpayer will I get a credit of two-fourths of his in-1 stallment in June. Thus a taxpayer | who had a tax bill of $1,200 to pay and who paid $300 on March 15 last; would ordinarily have had to pay an-! I other $300 on June 15. hut instead ho will be permitted to deduct $75 for the payment he made in March and $75 for the credit which he Is allowed in June or a total deduction of $150 so that he actually will pay only $150 in June. Wheu the Sep tember 15 payment comes, he will deduct ony $75 from his $300 bill bo that the net payment will be $225.1 On December 15 he will deduct the,1 remaining $75 so that his bill then j would also be $225. In this way,! the Government permits the taxpay er to take the full one-fourth reduc tion In four equal parts and the rev-l enues coming into the Treasury are not seriously disturbed. The whole' thing may be reduced to a formula j by taking one-half of what was paid in March and subtracting it from what would ordinarily bo paid in J June. In December and September each only one-rourth of th* March installment would be deducted. ? ? The Treasury Department depends' upon an even flow of money into the j Treasury from Income taxes and j when they fall short, the Govern- j ment has to borrow and pay Interest which increases the expense. In or-1 der to reduco borrowings to the mln-l lmura it was thought best not to per mit the taxpayer to omit his June! Installment altogether but to let Mm! pay a half of it then and take two other credits In September and De-I cember. ? All the features of the new law1 will be retroactive to January 1 of this year. There Is some doubt of! the power of the Government to levy' an excise tax on gifts which were' made prior to the signing of the new1 law. There have been some test cases in which individuals contend ed they had a right to make a cer tain transfer of property because no law was on the statute books and | that they might not have done so| had they had knowledge of the tax|I that would be later levied. The Gov-j ernment in the past has won theso test cases on the ground that an ex-!, else tax may be levied on any trans-! action which has occurred. There is ; room for difference of opinion on!I this feature of the law, however, and.1 it is not unlikely that varying cir- 1 cumstances will lead to litigation1 and further testing of the conBtltu-' tionality of this provision. As for the retroactive effect on the transactions of the taxpayer general ly, the Government has no doubt of the constitutionality of the new pro visions for the individual's income is supposed to be calculated on a year ly basis and the revenue act of 19181 which was not signed until February, 1919, was retroactive to January 1, 1918. without being upset In thej courts. There are other phases ofl the new bill which an usual will be open to attack in the courts, but they cannot bo conjectured in ad-' vance for nearly every revenue act j has something in it which produces a law suit. | The gift tax provision is probably the principal one on which legal con test will be made. The Treasury it self did not Insert these ambiguous provisions in the bill but will be com pelled to defend them when once the measures become law. EAT PURE LOLLYPOPS FRESH VEGETABI.ES Mmjr Pm., Hprlng Turnip,, aprln* lleeto. Hprln* Onion., I*iu,rr, Celerj, Tnnuthm R. L. GARRETT FHOMC HON LET FRICK BE YOUR TAILOR ?1? Kramer RalMIng icer-Walker Co. What] 'Rum King" Talks Georgo Remus, who has the reputation of being the wealthiest American bootlegger and who hailed from Cincinnati. O., Is shown telling his sensational story before the Senate Investigating committee. He declared he had paid at least S250.000 In protection money to Jesse Smith, close friend of the late Atty. Gen. Daughertyi and largo sums to "go-betweens."! Remus is now serving a term at tho Atlanta federal prison. PATARRH of head or throat is usually benefited by the vapors of? VICKS VAPQ Rub r Mi'li?^ jTri Ovmr IT Mllfior* Jmrm l/mmJ Ymarly Special Pancake and Buckwheat Flour 6c per Pkg. 5 Pkgs. for 25c M. P. GALLOP CO. Phones 3 and 57 FLOWERS for gifts convey yonr message better than words. Ryan Floral Shop I'HONE 84S TEXAS COTTON IMPROVING I Houston. June 2?(Special)?The cotton crop In central and southern Texas, while two or three weeks late., 1h making good progress since hot* weather has started. Conditions are only fair In the north section of the state. The Texas acreage increase is estimated as high as eight percent over last year. Mrs. C. B. White 112 Broad street has returned from a visit to her daughter, Mrs. C. L. Rhodes at Col umbia. MEET YOUR FRIENDS AT OUR Clean Soda Fountain at THE APOTHKCAKY SHOP It's Time to Think of a New Lightweight Suit We have one that will suit you. D. Walter Harris The City Tailor and Clothier ?x~xk-xk-xk-xk~x^~x~x-xx-x ?e-:-<-:-x-x-;-x-x-x-:-:-x-x-x-;-x PRICES oil Ford size tires and tubes are what you want. Due to exchanging tires from new Ford cars to equip them witli Balloon tires, we can save you mon ey on your tires. CALL AND SEE Auto & Gas Engine Works Inc. X"X~X~X"X~X-X~X-X~X~;"X~X-V X-XX-X-X-X-X-X-X-X-XX-XK-S' I (F/ien You Need a? Tire or Tube COME TO SEE US. Flak Red Top nn SoC-M AWfUL THAT Twin j LAN&UA6E OVER THE IS HIM talwin J] Ej^mt wgT ? h I p"ONe * ?? WHAT- ? -5. LtojNSULT PtOPLE < VE^ 8UT I CanT ?. f \ Alkrama Theater Tuesday and Wednesday June 3 and 4 "Written and Directed by CHARLES CHAPLIN "You Wouldn't Understand" said the erstwhile"- village girl whom Fate has turned into a woman of Paris when the richest bachelor in the world's gayest city pointed to her glittering gems, asking. "What more do you want? You have everything." She Had Butterfly Luxury but all the while her woman's heart craved real love with the man of whom Fate had robbed her, a real home, her man's children. For these she was willing to give all?her gorgeous gowns and gleaming jewels. An Intense Human Drama ADMISSION: 10c and 30c MATINEE and NIGHT Also "THE VAGRANT" a Mermaid Comedy LEGAL NOTICES NOTICE OF ADMINISTRATION Having qualified ai Administrator of the late Mi tints A. Wllltauii 1 heed* nf I'aaquotank County. N. C. In Book 53 at ink 114. default having h?fn mad* In tha pay ment of tbe liMWbtnlflnt ?nnrwl thereby. 1 will on Wedneaday. June H. 1924. offer for aala tWore tha Court lfmiaa door In Kllraheth City. N C.. at U o'clock Noon, to tha highest bidder for ca*4? tha following described properly: That certain tract or lot of land In Paaqtio* tank Countr. North Carolina, bounded on tha North by Wr?t Main Street; on tha Kart by Charlea Avenue or West Main Rtrert ratended; on tha South by tha hair* of J<.hn Hughes; on tha West by the land of Norfolk-Kouthern Itftil road Company; bring lot n on tha plat (4 C. W. Stevens. recorded In Hook SI. pat* Ml. of flcs of tha ItagWtrr of Deed* of I'aaquotank County; same l?lni tha property fonterM to Ada William* by John I. Walla and wife, by dfd dated November 10, 1917. recorded In aald office in Book 44 at paga 5UJ. . Thlg Mnd day of May. 1994. I 1. CARTKR l'KRRT, Trustee. ! By McML'I.LAN A I,eROT. I may 10.Jut.9.19 Attorney! I NOTICE OF ADMINISTRATION Having Qualified a* Admlnlstrfttor of tba lata Cya- | thl* Whltdpd I hereby glva not Ira to all person* Indebted m her estate to com# forward and maks Immediate a*4 tie meet, and thoaa holding (U>ni against tba same to present then for payment with in twelve month* from iha date of thla notice, or ;t will ba pleaded la bar of their recovery. May 17. 1M4. DAVID MORGAN. mayl9.M.J?aS.9.14.M Admlniairsior. NORTH CAItOI ISA. PASQUOTANK COUNTY IN Tlir. StTKRIOR COURT. fn Re MARY LKNA NIXON. e? ftla. KX PARTS to tba Court By virtue i4 an order nf Re Sale mad* la the abova entitled cau*? by tha Clerk of the Superior Court. I ahall sell to the hlgheat bidder for cadi at tha Conrt House door of r**iu??aaft CwSTi N. C.. on Saturday, Juoe U.k. lltU. ml IS o'rfca* M . Uia fbl lowing dearrttud bouse and lot. le. Being one llouae and Lo? altuated en tba Wat alda of Cypress Street. In Kllgabeth CHjr. H. C.. ami known and dcel?aat 2 O.June 2.9 CommUfionrr of ttic Court. NOTICE Sal? of Valuable Property Br virtue of a Dwd of Trnat nwutfd to im by Mn Wlnilm and wife. Paulino Wln?low, for cer tain pun>n?ea Ihwln mentioned. whlrh *ald Dwr In Pasquotank Coun tr. to offer for m)o at public auction for cad? Uia property a* conveyed to ma a* tru?tee: Being one Town lot altuatcd on Htarke Street and luiuwn aa Lot No. >4 In Mat of M. N. Sawyer. rerorded In Ileal Her'? office of aald County la llook No. 16. pa?? 4S7, adjoining lott Noa. 23 and 23 aa by reference to deed from M. N. Saw)er to John Window will more fullr Dated and poatcd tbla tba 29th dar of Mar. 1924. P. 0. SAWYF.R. raaylO.June2.9.19 Tnutea. NOTICK OF ADMINISTRATION I taring qualified aa Administrator of the late Kec ne -aii