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Tax Exemption Expected To Bring Many New Industries To Tidewater
Will Affect Only Plants Not Competing With Those Already Here
By G. LINEWEAVER deducted cross income March their suddenly use business industries of non-competitive char- terminated. the Usually such assets must expected to locate sold Hampton Roads area in the near order loss. future result of the passage by there If, house delegates of the Bucha- example, property has been discities carded authorizing from foreseen cause, such to for product certain machinery especially of the senate devoted, where legislation concurrence offered makes the continued profitable use the property impossible, Delegate would the exemption the taxpayer not have part prohibit of industries ed with the property taxation those order to claim similar nature istence respective localities. of property abandoned Hampton and practically because depreciation or every other lescence, the taxpayer favor the parted with the claimed. the the support Loss due the voluntary the the who moval build the degree the scrapping old ings, and being willing equipment, etc., due chinery, for Virginia able renewals with Maryland and North ductible. taxpayer Carolina, which similar provi- site industrial tax exemptions. which building The debate fast and furious demolition the located, while, and the building not considered loss quired 51 deductible. because tax the jority value estate, barely mustered that In fact clusive old Delegate Folkes, presumed be equal to decided the issue, going against the the and purchase price action of the city council the capi- of plus cost remov. which opposed the bill. ing the useless building Hampton scheduled important understood, the and has the edge over which similar The bill really part Byrd and carries out the authori zation AmendPER ments which permitted general to enact enab act such provided to indusInitial Payment Ordered To trial expansion "joker" exempt Those Portsmouth State farmers well works Internal Improvement Bank Owed taxation for five years of from character offered Portsmouth Bureau. the opponents, many of by Under an order signed Judge rural Bain the Portsmouth Court believed the would have Hustings yesterday the depositors lost. the State Bank receive Initial cent their The the by for D. Lawrence, the bank's While the decree is -ffective two all the get their Mr. Parker, who the checks would go Norfolk Delegates Takes and clerical some make out Leading Part In Defeat depositors the failed Of Measure The had previously entered order the By STAFF CORRESPONDENT preferred Richmond, March Danreport Triplett, Coleman, stepped into two weeks arena yesterday afternoon and led ago. This decree also ordered the the slaughter the state plumbing and charges which and for the the receiver attorneys monopoly certain plumbing and would The State Bank closed Its doors the same installed in towns. stated accounted for "In years will come back the over period with and the years of George Larkin, the bank apply to cashier. On plea guilty, Norfolk cashier now serving delegate declared. be able years the for emlined bath tub use year an pretty the for making false reports to Delegate Charles Davis, of joined Mr. Coleman, Receiver has asserted the measure of the nefarious designed $75,000 of the regulation the $16,by capital home in the state, surplus profits and he for its defeat. by continDelegate McCauley, of Roanoke, gently the assets asserted Norfolk had plumbing represented $343,330.98 code far more rigid, and Mr. Cole- bonds and discounts and replied: securities to $25,893.96. The "It known that there are were $391,117.98. deposits
