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B—Bid A—Asked.—Reuter, Income Tax Below Par Washington, Mar. 24.
Without revealing the exact amount anticipated, Mr. Henry Morgenthau, Jr, Secretary of the Treasury, to-day disclosed the Government's income tax receipts "might run between $20,000,000 to $50,000,000 below our estimate."
The amount expected was believed in the neighbourhood of $730,000,- 000. March receipts boosted revenue for the current fiscal year well above $700,000,000.
Due to the current deficiency in collections, however, the Government will borrow another $50,000, 000 through the weekly bills series which are scheduled to mature in June, Mr. Morgenthau said.
Meanwhile, a budget bugaboo is haunting the Treasury. It was pointed out that while tax payers were pouring an average of $17,- 600,000 into the Treasury each day the Government was spending an average of $20,700,000 daily.—United Press.
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