Washington, June 22.
The Senate, by a voice vote within four hours, today approved the business appeasement tax bill which included a provision for the cancellation of the preferential tax rates previously enjoyed by insurance companies, banks and corporations oper-sting under the China Trade Act.
The bill authorized US$1,644,300,000 in taxes. It scraps the undistributed profits tax and substitutes a flat 18 per cent. corporations tax on all firms earning in excess of US$25,000 annudlly.
The restrictions on capital stock increases and net operating losses are relaxed. The measure further extends the nuisance taxes which yield 'US$544,300,000. annually.—United Press, Gen. Franco Makes Bitter Attack on Democracies La Coruna, June 22.
Violent accusations were hurled against the democracies by Gen. Francisco Franco today when he delivered an address to labourers here.
"The Reds have pronounced themselves against war, and yet it is the "democratic and pacifist nations which, behind the backs of their people, want to drown Europe in Flood," he charged. "They spoke to you of fraternity, and you can see the concentration camps in which Spaniards are interned. These are the democracies which close their doors to refugees and this the lack of Christian charity on the part of those whom, even yesterday, you called our brothers" General Franco concluded.—Havas, Minister said arrangements were being examined for remedying the deficiency of imperishable foodstuffs in the Concessions, where only 10 per cent. of the normal supplies were now arriving.
Ample stocks of non-perishable commodities, such as flour and rice, were on hand.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.