THE CHINA MAIL, OCTOBER 6, 1939.
BRITAIN'S NEW
EXCESS PROFITS
TAX PROPOSALS
London, To-day. SPEAKING ON THE NEW Excess Profits Duty in the Commons, the Chancellor of the Exchequer said: "We have taken the general decision passed in the spring of the year to secure a con- tribution from the excess profits made by arma- ment firms, and applied that scheme to the whole field of trade and industry.
In this case, as before, the Duty is to be payable as
· from April 1 last. It is to be paid on an excess of current profits over a certain definite pre-war standard.
One result is that the present Fin- ance Bill repeals the Armaments Pro- fits Duty because the greater includes the less, but armaments firms remain none the less under the burden of the old legislation in effect.
under this
They are dealt with, general provision, as they were dealt with specifically before."
He claimed that the Excess Profits Duty in the present Bill was a great improvement on the McKenna Duties at the end of 1915. That tax was
based on what was called a capital standard, whereas the present tax was based on a profits standard.
FOR THE DURATION
In practice, the basis of the capital standard had produced the most frightful complications.
As to the duration of the new tax he
could only say he expected it would be for the duration of the war. -British Wireless.
MAORI BATTALION AUTHORISED
London, To-day.”
AUSTRALIA BANS EXPORT OF CAPITAL
Canberra, To-day.
The export of capital from Australia is now forbidden under new regulations simi- lar to those already in force in Britain and Canada.
Foreign securities cannot be sold without Treasury permission, and the curities is also forbidden. transfer of Dominion or foreign se-
Stocks, shares, bonds and gold are Included in the measures.
All securities in the Empire, except Canada and Hong Kong, are exempt.
Reuter.
N.Z. TAKES SIMILAR ACTION
to
to
Wellington, To-day. A Government bill introduced the House of Representatives is take complete control of the Reserve Bank of New. Zealand empowering
The announcement that the Finance Minister to vary or sus the New Zealand Govern-pend the minimum reserve of 25 per cent. and revalue gold coin and ment has authorised the bullion held by the banis on the basis formation of a Maori batta- of market value of fine gold, and lion for home or
transfer to a special reserve account any profit obtained thereby. service, will recall to many Questioned by the leader of the the fine record of this re-Opposition, the Finance Minister said markable race in the last that it would be wrong to say that
war.
overseas
A battalion of Maoris, under their own officers, fought with the New
the Governor of the Bank had ac- quiesced in the bill-Reuter.
Zealanders at Gallipoli and many of SINKIANG
them gained distinction.
They also suffered many casualties,
because of their extreme daring. REPORT
Afterwards, in France, their num- erical strength was more than doubl-
ed by regular reinforcements, DISCOUNTED
and
they were formed into pioneer batta- lions with the New Zealand Division.
In this capacity, they gave equally fine service. The Maori race has been gradually increasing in numbers and to-day there are over 89,999 in New Zealand. British Wireless.
ANZACS TO BE TRAINED
London, To-day.
Chungking, To-day. have been infiltrating into Sinkiang Reports that large Soviet forces
who suggest that the reports are denied by official Chinese sources have been circulated by the Japanese "in the hope that the suggestion of a Soviet threat to Afghanistan and In- dia might result in a change of Bri- tain's policy towards Japan."-Reuter.
GENERAL. ORBAY ENTERTAINED.
London, To-day.
Some 250 New Zealanders in Bri- tain of military age who have offered their services in war are to be formed into a unit and undergo training In His Majesty's Government enter- England before attached to the Newtained at luncheon yesterday, General Zealand Division when it is sent over-Orbay and the members of the Tur- seas.British Wireless.
kish Military Mission Lord Chút- field, Minister for Co-ordinatión of Defence, presided.— British Wireless.
SIR HOWARD · KENNARD AT PALACE
London, To-day,
Sir Howard Kennard, the British Ambassador to Poland, was, received In audience by, the King yesterday
POLAND BOUNDARY
COMMISSION
Moscow, To-day.
commission
The Soviet-German
morning. Sir Howard arrived back which will mark the new boundary. ín
in London on Monday-British Wire-conquered Poland will start work on less.
Monday-Router.
WHO WOULDN'T WANT A SHAVE-IN HAIRDRESSING ESTABLISHMENTS IN ENG. LAND, LADY ATTENDANTS ARE NOW TAKING THE PLACE OF. MEN CALLED. AWAY ON NATIONAL SERVICE. EARLY TREPIDATION DISAPPEARS AFTER A WHILE.
BERGDOLL
FOREIGNERS SENTENCED
ROBBED
Captain Houghton, residing at No. 124, Waterloo Road, Kowloon, has re- ported that a silver cigarette case and a metal ash-tray were stolen from his residence between 9 p.m. on Sunday and 9 am. yesterday.
Road, Kowloon Tong, has reported the Mrs. H. Caines, of No. 3, Stafford
afternoon of a silver clock, valued at theft from her residence yesterday
$45.
New York, To-day. Grover Cleveland Bergdoll, the American of German descent who evaded military service in the Great War and escaped to Germany, has been found guilty by a Court Mar- tial of desertion and escape from military custody.
He was sentenced to three years* imprisonment.
Bergdoll was arrested when he re- ago in the German liner Bremen. turned openly to America five months
Reuter.
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