Word: exempted
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...Exempt dividends (as now) from the normal...
From certain Seniors struggling with Divisionals comes a cry against the injustice caused by differences in the Departmental rules regulating exemption from final examinations of courses in their field of concentration. These rules are as varied as the tongues of the Tower of Babel, for each Division makes them as it sees fit. In the Division of Modern Languages only those who pass the Divisional Examination "with credit" are exempt. Biology grants freedom from examination to all Seniors who have, at April Hours, an honor record in the courses in question. The Division of History, Government, and Economics relieves candidates...
Individual Incomes. Normal rates were upped to 2% (first $4,000 of net income), 4% (second $4,000) and 7% (all over $8,000). Personal exemptions were reduced to $1.000 for single taxpayers, $2,500 for married. The surtax rate was started with 1% at more than $6,000 net income (instead of at the present $10,500 level) and scaled upward to a maximum of 40% on more than $100,000. The House finally knocked out the 65% maximum surtax on incomes of more than $5,000,000 after the Treasury had convinced it that such a rate would...
History and Literature honors candidates would gain more both from their divisional examinations and from their courses if, during their junior year, work required of them in courses in their field were reduced. Exemption from final examinations would not be a practical solution because there is ample time after junior divisionals to prepare for them. A more feasible plan is to exempt honors candidates from course theses and any May hour examinations in their field. In this way further advantages from courses and junior divisionals would be gained: a careful review for generals would be possible, and the required course...
...critical financial state of New Haven gives pertinence to a problem which for long has confronted universities and local governments. The New Haven authorities have threatened Yale with special legislation to annul the tax-exempt features of its charter, unless the university voluntarily contributes in the present emergency. In view of the fact that Yale has been accused of securing unjust exemptions, the possibility takes on extra force. The university golf-course, according to press reports, has been transformed by academic magic into a botanical gardon. Dormitories and gymnasiums have received the addition of recitation rooms, in order to justify...