ESCAPED TAX
CONFESSION OF AMERICAN BANKER. United Press Association—By Electrlo Telegraph—Copyright WASHINGTON, October 13. James Forrestall, of the Dillon and Read Company, Ltd., told the Senate to-day that he paid no income tax in 1929 on 864.000 dollars stock profit, by means of setting up with his wife, a personal company in Canada. The tax he declared would have been 95.000 dollars. However, it is disclosed that the banker this year paid 6000 dollars tax on the Canadian Company, after the recent disclosures before the Committee, concerning the incomes of other bankers. Startling Revelations. It was also re\caled to-day that a 300,000 dollars loan, only half of which has been repaid, was made to Director Couch of the Reconstruction Finance Corporation by the Dillon and Read Company. Ltd., in 1928
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Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19622, 17 October 1933, Page 7
Word Count
130ESCAPED TAX Timaru Herald, Volume CXXXVII, Issue 19622, 17 October 1933, Page 7
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