U. S. Business as a whole found last week's election thoroughly satisfactory. But for one major U. S. business it was profoundly disappointing in Colorado the chain stores lost their second major battle with the tax ogre. First such battle was over the proposed California chain-store tax in 1936, which the chains defeated by a mighty publicity and advertising campaign. Colorado has had a chain-store tax since 1934 and last week it came up for referendum. Despite another mighty publicity and advertising barrage, Colorado voted No to repeal by 230,000 to 160,000.
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