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About La Grande evening observer. (La Grande, Or.) 1904-1959 | View Entire Issue (July 6, 1933)
Thursday, July 6, 1933 Page Eight LA GRANDE EVENING OBSERVER, IX GRANDE, ORE. HERE'S THE NEW TAX SITUATION AS IT STANDS , WASHINGTON (.D New taxes wero Imposed by the Jaat session of con gress, old ones were continued and Important changes were made In the law to prevent escape Horn taxation through technicalities. The new taxes, und the ones re newed, wero Imposed partially to give the treasury special funds with wliicli to pay Interest and establish a re serve tor retiring the billions In bonds needed by the recovery program, so that bond buyere would have confi dence In their Investment. Borne money also was needed for ordinary running expenses. The hole plugging changes In the law were a direct result of disclosures that some of the wealthiest men have paid little or no Income tax during the recent hard years. They made uso of a law which permitted sub traction of losses suffered one year i from Income received in two years, i All the taxes Imposed uy the billion i dollar revenue law of 1032 for the i last year and the current one, were continued through 1934. . The three per cent tax which hod : been added to every home electric light bill will, after Sept. 1 be paid by the light company. The federal gasoline tax was in creased for the present fiscal year from one cent to one and a half cents. A five per cent tax was Imposed on all dividends, to be paid by the corporation declaring them before they are distributed to stockholders. A five per cent excess profit tax was Imposed on all corporation net income above 12' per cent. The normal income tax rate on corpora tions was Increased from 14 to 14 per cent. An annual tax of one dollar . a thousand was Imposed on capital stock of corporations. These taxes may be ended by the president whenever the eighteenth amendment is repealed, giving the treasury revenue from liquor taxes, or as soon as the ordinary budget is balanced, whlcheveh of the two hap pens first. . The new law provides that all tax returns to the government may be made public under presidential regu lation, to the extent that Mr. Roose velt may order. No such order has been lBsued yet yet. The main changes to block tax escape : ! : I ;V j 4J From Jan. 1, 1033, a taxpayer can not deduct net losses or losses from eulo or exchange of bonds or stocks except In the year In which such losses occur. These limitations apply : equally to individuals, corporations and partnerships, with private banks denied former exemptions. VIOLINIST STOPS HERE ON WAY TO BIG CHICAGO JOB Philip Pelz, conductor of orches tras, stopped In La Grando Wednes day afternoon to call on his friend, William Andrlst, and spent the after noon giving an Impromptu recital In the O. K. barber shop on his violin, one of the instruments which ho playe, Mr. Pelz and Mr. Andrlst wore friends In Minneapolis, Minn., where the former was the director of a symphony orchestra. Mr. Pelz, distinguished appearing With an abundance of iron gray hair which halos his head Hon fashion, Is en route to Chicago whero ho will direct a (band for 10 weeks at the Century of Progress world fair. It was at the San Francisco fulr In 1015 that he led an orchestra of 400 pieces and won first prize. "Philip Pelz is one man In the United States who could sing "When I Played Piddle For the Czar," since ho was conductor of) the imperial or chestra In the palace of Nicholas Ii, and carries a gold watch tho czar gave him bearing the royal coat of arms, probably tho only ono In this country tcday. Among- his credentials also aro decorations from Kaiser Wtlhclm, Von Hlndcuborg, tho sultan of Tur key and a corticate from Tschalkov aky, whoso pupil ho was. (IKNKltAL KKKNS DIKS WASHINGTON WV-Brig. Ocn. Pohn A. Kress, 03 years old old, died nt Wal ter Reed hospital of old age Infir mities. Veteran of the war between tho states and tho Spanish-American war, Kress had tho reputation of being tho oldest living graduate of tho military academy at West Point. Ddts)MOOk This should be your Choice of Hotels Because: 9 The New l.nw rt tnak thi DAN MOO HE Ih moat wot L) umir&l Rood bnttl. 11, 1.60, 12. 12.60. Special (suiljr rttc. Nearly every room ha pri vate Utti. Women trtrellng umccompaa led receive every couituy, Downtown location cIom te the aioree, hut Dot noiiy. 9 Dan J. Moor, formerly of the Moore Hotel In Suiumfn, own Rtnl oprrnte ibe DANMOOKB personally. A A. A Office Oiipoeltt Hoi el Opposite Terminal Sloi Building TWELFTH AND MORRISON PORTLAND No Wonder They Call It The 'Punishment Pit' When liutfffe eiiRliicera want 10 iry ineir lutiumvor k, iney lane it to a place selected with cunning cruelty and culled 'Punishment IMt.' , In this 'pit', pctck-murked with bumps, dented with countless holes and offering to uheeLs unJy the doubtrul tructlon of loose, shirting sand, all parts of the car under test are kiiIJ'cLoi1 to terrific Ktnilim that can not be duplicated by any other means, according to L. C. Smllh, IiiujI l ruler. The IXMle sedan you see here inud-turtllng over a sund bunk Is undergo ing more mechanical torture In nil hour than the average ear could possibly receive In years of strenuous road service. ' . CONTINUATION OF UPWARD BUSINESS TREND PROBABLE NEW YOIIK, July fl (P) Standard Statistics Co., said that a continua tion of tho upward ' business trend during the remainder of tho year was probable. i "Tho usual mid-summer recession," it stated, "will be greatly moderated, or entirely eliminated, In many lines becauso of accrued and belated buy ing. By the close of the year busi ness volumes in most of the essential Industries undoubtedly will compare favorable with levels witnessed In tho early stages of depression." Tho June Improvement was one of the sharpest on record, said tho sum mary, "an upturn that was especially significant Inasmuch as In most in dustries activity seasonally recedes in June. "Indications now point decisively to a broad scalo industrial expansion during the last half of 1033. This prospect is conditioned primarily on the basis of natural recovery after tho several years of abnormally se vere deflation. , In addition, however, considerable promise adheres in the program contemplated under the In dustrial recovery and public works act to oxpand greatly tho latent pur chasing power of consumers. By this means the present formidable amount of unemployment should be reduced at a more rapid rate than would be possible along strictly normal lines." NORTH POWIlKlt I'lIltSONALH $, 4 Prank and Elmer Pearson returned to their homo here from Deer Lodge, Mont,, whero they have been employ ed tho last month shearing sheep. Mrs. Andy Tlmpy and Mrs. MabeJlo Swift went to Sumpter whero they will meet Andy Tlmpy, Ellna Smith and Charles Nantz. C. O. O. workers at Crane Flats, who will return homo for a brief vacation. Mrs. E. McOlure and daughters, Margaret and Leona, visited Sunday with Mr. and Mrs. Henry McCluro. Mr. and Mrs. Lyle Howard, of Albeo, and Mrs. Ralph Spcclman, of Htilnes, JULY UY Prices arc Climbing Steadily . . . BUY NOW and SAVE! Our July Sale offers Suck Values thai No One can Afford to lass them up . . . Supply Your Needs at these LOW PKICKS. Your $ 5 $ will I5uy Twice as Much of Merchandise NOW as they will buy two months from Now. Fair Warning but you Must Act Quick while the Stocks arc Complete! . i . arc visiting this week at the Matta Nice home. Mr, and Mrs. Jack O'Bryant and family of Belle Forche, S. D.., visited last week with his father, Jesse O'Bryant, and sister, Mrs. W. Lovt'.-a. They left Friday for Portland where they will visit with other members of the family. Mr. O'Bryant is superin tendent of a sugar factory at Belle Forche. ; Robert Brant has returned home from Portland whera he has been for the past several months. Mrs, Albert Sailer, was taken to the Baker hospital for medical treat ment Tuesday. PORTLAND LIVESTOCK PORTLAND, July 6 (ff) Cattle: 26, calves 7; generally steady. fitacrs, good, $4.75u 0.00; common and medium, 93.00 $ $6,00; heifers, good, common and medium, $3.00 s $4.76; cows, good, common and me dium, $2.50(, 84.25; bulls, good, 3.25 a $3.50; cutters and medium, $2.25 $3.25; vealers, good $6.00 (,i fcl.75; common and medium, $3.0OffP$6.0O; calves, good, $5.50 $0.00; common and medium, $2.60(( $5.00. Hogs: 92; steady. Good, 140-200 lbs., $4.75 (, $5.25; 200-250 lbs., $4.06 $ $6.25; over 250 lbs., $4.40 i?f $4.&5; sows, good, $3.60 $4.60; medium, $3.504.10; pigs, good, $2.75 $3.25, Sheep; 691; strong. Lambs, good and choice, $6.00 $0.50; common and medium, $5.00 $5.75; wethers, $2.00 $4.00; ewes, $1.50f $2.25. : MARKET NEWS CHICAGO WHEAT 0 Open High Low Close July 9H .1)8 Ml .98 sc-pt 98y,.99(4 1.0114 im Dec 1.011.01ij 1.04 ' 1.01 1.031, ,. May l.oi.u!4 1.08 1.05 1.07!414 . CIUCAOO COKN ,, July ,58.y, .01 , .Zg Sept .039.03)4 .00 .03 .05.0fl llec (17)46.08 -07)4 .70Ms May .73)4 .75 ; .73)4 .75-')4 l'OIU'LANI) WHEAT Open High Low Close Jli'ly 75 .75 .75 .75 ' Sept .7814 .78), .78 .78)4 O'-o .82 .82 .82 .82 now Wool Flannels or Tweeds Light tans, light greys, dark tans, dark greys: They are worth (ftsy f)f , every cent of .$3.J5 We Still Have a Very Good Run of Sizes Whites or beige up to $4.95 values Quality SUITS For Men . $7.89 $10.89 and $13.89 while this stock lasts. Ladies' Oxfords Don't Judge the quality of these suits by their low price I You will recognize theso, aulU na out o standing VALUE when you see them, $1.98 VT4 i ......I i CLOSING FIRM IN EXCHANGE TODAY NEW . YORK, July em Stock market trading proceeded at a fast pace today, although there was less of the feverish price buoyancy of re cent sessions wore held to a range of fractions to around two points. The close was firm. Approximately b,600, 000 bhares changed hands. Oloslng figures Include:, . Air Reduc 93 Al. Chem. tnd Dye s:: 130 American Can 95 V4 American T. and T 131i Bethlehem Steel 47 J. I. Cose ..... 99 Co!. G. and E 20 Continental Can 02 General Motors . 32 Johns Manvllle0 0 Llbbey-O.-Ford 32V& Liggett and Myers B 9014 Montgomery Ward 3bA National Distill 104 Public Service of N. J 63 J. C. Penney 45 Southern Paclflo 30', St. oil of Cal 30 St. Oil of N. J . 4014 Union Pacific 31'A United Corporation 13'l4 U. S. Indus. Alcohol !....,... 07 U. S. Steel ...V. 84 T- l,i..ij ,, OF THE DAY SALE $2.49 Men's Oxfords In every wanted style of late models. $1.98 $2.49 $2.98 : Only 37 of These Left Silk Dresses The VALUES aro such that It Is Impossible to describe In printed word. But w can assure you that your time will bo profitably spent by Attending this sale and treat yourself to n real silk drers at these low prices, ' $2.89 and $3.89 PRICE OF BUTTER ADVANCED TODAY PORTLAND, July 8(fl Advances of I'fc to 2c lb, on the produce ex change for butter during the last session was somewhat oi a forced af fair. Outside Interests were unable to check the strength of tho trade here. Fully lo Xty premium haoi been offered and paid on the open mar ket for supplies over what the ex change previously- quoted for cubes, forcing the depression Interests out of commission. , ' , The new price of 24o for extra cubes here placed Portland prices close to the point where supply and demand justified them. . Portland again takes leadership of the price situation despite attempts to hold down values here. ' 1 The price of butterfat was auto matically advanced with, butter. PORTLAND PRODUCE PORTLAND, July 8 (Pi Butter prints, extras, 26c; standards, 250, - j Butterfat: Portland delivery: A' grade, 23 g 24c lb.; farmers' door de livery, 2123c lb.; sweet cream, 5a higher. Eggs: Paclflo poultry producers' selling price: oversize, 20c; ertras, 18c; mixed colors, 17c; mediums, 17o doz. Buying price by wholesalers: fresh current receipts 50 -lbs. and up, 12o dozen. - j .Country meats: selling price to ro-' tallers: country killed hogs, best butchers, under 150 lbs., 7c; vealers, 7" to 100 lbs., 7)4c; spring lumbs, ' lOiallc; yearlings, 46c; heavy ewes, 2&3c; medium cows, 5c lb.; canner cows, 2(i 3c; bulls, 4)45o -lb. Potatoes: local, 91.50; Deschutes Gems, 92.60 cental; do bakers,. 92.25; Yakima Oems, 92.00 92.10. Cheese, milk, mohair, live poultry, onions, new potatoes, strawberries, wool, hay, quotations unchanged. SUGAR AND FLOUK PORTLAND, July 6 P) Sugar Cane granulated, 94.75; fruit or berry, 94.50; beet sugar, 94.05 100 lbs. Domestic "flour: selling price, mill delivery, 25-bbl lots: patent, 49s, 96.70; do 90s, 95.50; bakers' bluestem, 94.70 94.80; blended flour, 94.05 94.25; soft white pastry patent, 94.25 (ft, 95.50; Montana hard wheat patent, 95.0090.80; rye, 94.60 94.70; whole wheat, 93.25; graham, 93.70 bbl. ' Gains of 11.5 per cent In payrolls, 4.8 per' cent In employment made In July. Arsenate of Lead Cherry Spray. o Evergreen mack -Leaf "4Q o Home Lumber & Coal Co. Phon: Main 17 Canvas Lawn or Porch Chair stained frame and striped canvas. Less awning and foot rest $1.25 Porch Glider colorful and attractive com fortable and very sturldly con structed! $10.75 Folding Arm Chnlr very aight BJd convenient but comfortablo and strong assorted (SQ OI colors ifUiJO 8 Faster Exchange Ticker is Desired NEW YORK, July 6 (P) Clamor for a speedier New York stock ex change ticker has risen, to a shrill pitch since the advent of the infla tion bull market. t . - The present ticker, Installed In September, 1930, is considerably fast er than the Instrument it displaced, but Is nevertheless inadequate for the prompt reporting of transactions In five and six million share days, ac cording! to its critics. The ticker system operates at a printing speed of 600 characters per minute. TODAY and FRIDAY "I LIVED WITH HIM!" . . . Hear this cry, wrung from the tortured soul ot a girl fighting for her life! ' From this girl's agon ized llpn comes (lie story of any girl to day! Written uy 10 master of filiation ... a title you'll long remember. Buy Your . SUMMER ' FURNITURE Get Out-of -Doors But J5e Comfortable at the Same Time. Headquarters for Summer Furniture and Vacation Needs Bohnenkamp's The Old Reliable Estoblished1896 Evan i no Max Schmeling Weds Movie Star BERLIN, July 6 W) Max Schmel ing, former heavyweight champion of the world, and Miss Anny Ondra, screen and musical comedy actress, wero married In a civil ceremony at the Charlottenburfc- city hall today. OMAHA SHEEP OMAHA, July 6 m (U. 8. D. A.) Sheep: 8,500; lambs strong to 10 15c higher; sheep and feeders steady; bulk and top range lambs 7.60; sort ed native lambs 7.26 7.60; fed clipped lambs 7.15e$7.25; ewes 1.00 if2.00. -liberty HlflGftzmj flit-STflR Stohy jkoman . Accused Bq ten world-famous authors RUKRT HUGHES VICKI BflUfTI znnGRV vmfl dclitirr IRViniCOBB GCRTRUDJflTHtRTOIl J.R0JcVOV URSULA PRRR0TT 0Lfln BflflKS SOPHIE KERR Protect Your Roses From Plant Lice Don't let your lovely . roses be spoiled by lice when It Is so easy and cheap-rto proteot them all sea son. ,. Simply sprinkle the bushes with Bu-hach and you can know your robes will be safe. Money back II you don't agree that Bu-hacrt Is the best protection against Insect pests you have ever tried. Guaranteed safel ' ' - ' Comes In handy sifter cans at 25c and 50c at all good grocery an drug stores. 'Adv. NANCY CARROLL CARY GRANT JOHN HALLIDAY, IRVING PICHEL LOUIS CALHERN JACK LARUE LONA ANDRE "Canine Thrills" Sportlight Officers Arm Chair a fold ing chair that Is unusaully strong and comfortable and only $2.35 Hardwood Rocker a strong high quality chair green enamel with bright canvas seat and 41 4? AC back' $O.Sfd 0 a n v a s Awnings add beauty and comfort to your home for every type of window. As CS) OS low as 9iv9 Use Classified Ads For Real Results The NEW YORK STORE Observer
