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amendment is repealed, giving the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