Less Money For More Taxes

Stockholders will get less money in dividends this year. That frightening fact was cinched last week when Treasury Secretary Morgenthau asked Congress to crack down on business with taxes running up to 88¾%. Thus, just when the 8,500,000 U.S. stockholders would like more money to pay their increased taxes, they will get less. Examples-assuming no change in profits before taxes:

>American Telephone & Telegraph (57% of all shareholders: women) would pay $173,468,000 taxes instead of $106,268,000; profits per share would fall from $10.26 to $6.65, well below the famed $9 dividend.

> U.S....

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