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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 22, 1939
Page
19
Paul Mallon reports Washington struggles over Roosevelt’s circle. Welles drives policy while Hull stays away. SEC chief Douglas faces a delayed appointment. Health worries, political bets, and a shifting cash and carry stance shape a volatile New Deal landscape.
The document notes business corporations would be exempt from undistributed and excess profits taxes and pay only 16 percent, rising to 20 percent under a flat tax unless special provisions apply. Banks trusts and receivership firms would be affected, while small businesses under 25 000 earned may pay about 2 million in revenue. A North Carolina auto mechanic left a wrench inside a tire he repaired, a quirky anecdote.
The United States Navy will deploy a twin engined flying boat by Consolidated Aircraft capable of nonstop LA to China and return to Midway Island about 12000 miles. The craft measures 140 feet wingspan 75 feet length and may reach 360 mph.
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