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HEARINGS

BEFORE THE

COMMITTEE ON FINANCE

UNITED STATES SENATE

EIGHTY-THIRD CONGRESS

SECOND SESSION

ON

H. R. 8300

AN ACT TO REVISE THE INTERNAL REVENUE LAWS
OF THE UNITED STATES

PART 2

APRIL 9, 12, 13, 14, AND 15, 1954

U.S. Congress.

Senate

Printed for the use of the Committee on Finance.

UNITED STATES
GOVERNMENT PRINTING OFFICE

WASHINGTON: 1954

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Prepared statement_-_

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American Drug Manufacturers Association_

Banfield, Richard W., executive vice president, Niles-Bement-Pond Co.,
West Hartford, Conn__

Bare, Carl C., chairman, national legislative committee, Fraternal

Order of Police__

Bentley, Bert C., Chicago, Ill., representing. Guy S. Curtis & Associates,
employee benefit plan consultants; Earl Schwemm Agency, Great
Western Life Assurance Co., Earl Jordan Agency, Massachusetts
Mutual Life Insurance Co.; Anthony Organizations, pension and
proft-sharing plan consultants; Pension Service, Inc.; Louis Behr
Organizations, pension-plan consultants; Paul W. Cook Agency, Mu-
tual Benefit Life Insurance Co.; Ferrell M. Bean Agency, John Han-
cock Mutual Life Insurance Co.; Raymond J. Weiss Agency,
Provident Mutual Life Insurance Co.; and Dan A. Kaufman Agency,
Northwestern Mutual Life Insurance Co..

Prepared statement__

Brittingham, Thomas E., Jr., Wilmington, Del.

915

1063

929

931

1033

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Butler, Eugene J., director, legal department, National Catholic Wel-

fare Conference__.

1027

Prepared statement__

1027

Carroll, Mitchell B., special counsel, National Foreign Trade Council,
Inc__

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Davis, Mrs. Ranice W., assistant professor and director of the depart-
ment of art as applied to medicine, Johns Hopkins School of Medi-
cine

1057

Prepared statement (also signed by Mrs. William G. Cochran,
Eleanor Delfs, M. D., Mrs. Margaret Desch, Mrs. Thelma Blanch-
ard and Richard Marshall).

1061

Hadlick, Paul E., general counsel, National Oil Marketers Association_
Halperin, J. Stanley, New York, N. Y_.

Prepared statement_-_.

Proposed bill.

Kay, Leon, Detroit, Mich.

Letter to chairman.

Kem, Hon. James P., a former United States Senator from the State
of Missouri, on behalf of Field Foundation, Inc___

Lucas, Hon. Scott W., on behalf of the American Finance Conference__
Additional statement.

Maynard, Walter, chairman, tax committee, Association of Stock
Exchange Firms__.

McCormick, Edward T., president, American Stock Exchange_

McGee, Morris G., executive secretary, Eastern Paralyzed Veterans

Association

Runyon, Mefford R., executive vice president, American Cancer Society.
Satterlee, Hugh, New York, N. Y.......

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Sharpe, A. E., vice president, California-Texas Oil Co., Ltd., New York,
N. Y___.

705

Waskom, R. W., controller, Magnolia Mining Co,. Madisonville, Ky.
Weiss, Willard A., partner, Eugene M. Klein and associates, Cleveland,
Ohio.

1091

950

Prepared statement_.

950

Willenbucher, Capt. Franz O., USN (retired), executive vice president
and legal counsel, Retired Officers Association and national counsel,
Commissioned Officers Association, Public Health Service__

Wood, John A., III, secretary, National Council on Teacher Retire-

ment

771

Wyatt, Robert H., the National Education Association; accompanied
Leonard Calhoun, counsel, the National Education Association_____
Attachments.

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Adams, Arthur S., president, American Council on Education,

Washington, D. C., to chairman, April 15, 1954-

Ain, Samuel N., Samuel N. Ain and Associates, New York City
and Washington, D. C., to chairman, April 9, 1954, and
enclosure_.

696

712

Bane, Frank, executive director, the Council of State Govern-
ments, to Hon. Frank Carlson, April 5, 1954, and enclosure___.

Barker, Robert W., of Wilkinson, Boyden, Cragun & Barker,

Washington, D. C., to chairmain, April 27, 1954, and enclosure_ 1136

Beddow, Thomas J., Gardner, Morrison, & Rogers, to chairman,
April 15, 1954, and enclosure__

1093

Benington, George A., president, Mutual Chemical Co. of America,
to chairman, April 12, 1954_.

986

Best, John S., chairman, taxation section, Wisconsin Bar Asso-
ciation, Milwaukee, Wis., to chairman, April 14, 1954_.
Bowes, Arthur S., director, Automatic Canteen Corp., Chicago,
Ill__.

966

1022

Breed, Abbott & Morgan, New York, N. Y., to chairman, April
14, 1954-

1010

Buckley, Jeremiah S., Bridgeport, Conn., to committee, April 15,
21, 1954_.

1096

Carroll, Mitchell B., special counsel, tax committee, National For-
eign Trade Policy, Inc., New York, N. Y., to chairman, April
21, 1954, and enclosure_.

876

Citrin, Morris, member, Simonoff, Peyser & Citrin, New York,
N. Y., to chairman, April 12, 1954, with enclosures__

999

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