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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (Feb. 18, 1930)
PAGE TEN The OREGON STATESMAN. Salem Oregon, Tuesday Homing. Fehrnagr 18, 1933 I 1 BULL BKET tt Y if ' it" Building and Loan Stock Not to Be Included in Es timate, Word Brisk Rally Occurs in After noon After Weak Start Early in Day o o I PRIZE o o ! ' f A o mm AGAIN STRONG Persom owning building and loan association stock are exempt trom payment of the intangibles tax on its dividends until the Mock is folly paid for, according to a ruling announced by the state - tax commission here Monday. Under the commission's ruling installment or prepaid shares need not make a return or pay any tax until such time as the shares are matured, at which time they would pay tax only on that part of the interest credited since January 1, 112?. Fully paid saving shares and reserve fund stock on which the Interest or dividends are paid an nually or semi-annually should make return of the full interest or dividends received. The exemption of borrowers from building and loan associa tions from the tax was worked out at a series of conferences held In Portland last week between mem bers of the state tax commission and officials of the state savings and loan associations. "While the Oregon law is more favorable than those in many oth er states," read a statement Jssued by the tax commission, "the action was considered justifiable in that the exemption will help home owners without the additional burden Imposed in the intangibles laws of other states." Another favorable provision of the ruling is that of exempting in stallment shares' owners from any payment until such time as they receive more than they have paid la. 'The result of this ruling," con tlaaad the statement, "is to prac tically exempt installment stock, but the commission fetls that it la justified because of the fact that shares of building and loan are general savings." The final wording of the ruling will be considered at a conference between the tax commission and bailding and loan association of ficials this week. p mm! m- -t) sx Here's Carl Gregory, president of the University of Oregon chap ter of Sigma Delta Chi, national journalism honorary, with the large loving cop which the organ ization will award to the editor of the best weekly or aeml-weehly newspaper in Oregon. Judging will be made during the Press confer ence at the university, February 6, 7, and 8. YANKEE DIPLOMAT FOUR IRE INJURED : III CAR ACCIDENTS Four persons were injured, two seriously, in three traffic acci dents in Salem Sunday. One of those seriously hurt was F. A. Miller, of Portland, who suffered a broken shoulder, a bad cut on the head, concussion -" the brain and bruises, in an accident at 14th and Court streets Sunday noon. Mrs. O. D. Burlingame. 330 South 14th street, driver of the ear In which Miller was riding, was alio badly braised. Miller was thrown out of the car when it hit the curb after colliding with tho machine driven by H. A. Hardin, 1199 Broadway. Miller's head was nt when it struck and broke the wind wing on the car. Being thrown from an automo bile was also the experience of Miss Neva Hutchinson, of 1710 North Capitol street. She was rid ing in a machine driven by Wayne IWood of Woodburn, which collid ed with the car operated by J. F. Uenlges, of Portland, at Market and Cottage street. Miss Hutchin on suffered injuries to her head and back. After the collision, Wood's car hit the curb and a telephone pole, and it was the lat ter Jolt which dislodge i tne gin from the seat and threw her to th navement. it was reported. Each driver accused the other of traveling too fast. Mrs. Hannah Thomas of Wood burn was hurt slightly when the automobile driven by her husband, S. A. Thomas, was struck by an Oregon Electric train on South Commercial street about 8:15 Bandar nlzht. The car was badly damaged. Thomas reported that be did not see the train until it was too late. CALLED BY DEATH LOS ANGELES. Feb. 17 (AP) Alexander P. Moore, 63, who followed, a newspaper train from office boy to metropolitan publish er and carried on into the diplo matic service of his country, died here at 12:25 p. m.. today. A seeming minor cold, which rapidly developed into bronchial pneumonia, caused the death of the former Pittsburgh neswpaper man, who recently was made Ame rica's first ambassador to Poland. His illness never permitted him an opportunity to serve in the for eign post. Prior to his last ap pointment, he had served as am bassador to Spain and Peru. At his bedside when he died were two cousins, Marion A. Cul berson, and Eleanor Schuber, a former associate publisher, J. P. Emge, and Mrs. Emge, and Mari on Davies, screen star, at whose ranch Mr. Moore spent several days prior to his fatal illness. Relatives said that burial would be at Pittsburgh, where Mr. Moore rose to the, top in the Jour nalistic world. Irhad not been de cided today whether funeral serv ices would be held Here. Mr. Moore apparently had been suffering from an infection of the throat and lungs for some time before he became aware of his condition. After a visit to friends in the motion picture industry here he went to Palm Springs, near here, to visit acquaintances. While there, be contracted the cold and returned to Monrovia, California to enter an sanitorium. The infection was discovered and in a week he was fighting for his life. Last week he removed to a hospital here but he failed to re spond to treatment. NEW YORK. Feb. 17. (AP) The bull faction regained con trol today of the price movement on the stock market, which it lost on Saturday, after several days of indecisive struggle. Further liquidation turned the market decisively downward dur ing the morning, unexpected firm ness in the money market and re newed weakness in the commodi ty markets damaging bullish sen timent for the moment, but trad ing aoon turned dull, and pools were encouraged to resume opera tions. The market rallied briskly dur ing the afternoon, under the lead ership of the utilities, tobaccos, chemicals, aviations and tome of the low priced specialties. Total sales for the day showed substan tial contraction, transfers aggre gating but 3,289,170 shares. Developments in the petroleum industry continued of an unset tling nature. Gasoline prices were cut about 2 cents a gallon in sec tions in the middle west, following recent reductions in crude prices in the midcontinent area, Pennsyl vania crude was reduced 25 cents a barrel, the fourth cut since Aug ust, sending prices to the lowest levels in more than two years. Oil stocks were inclined to ease, nev ertheless losses were slight. Eastman Kodak was a strong spot, rising to a new peak for the year. The American Tobacco issues rose about 2 and 5 points to new high levels tor all time. National Air Transport was bid up more than 4 points to 19 a new top for the movement and United Aircraft made a 4 point gain. American Can and U. S. Steel rallied after early heaviness, the latter closing about 1 point higher. Community Club Plans Musical NORTH HOWELL, Feb. 17 The community club will meet on the evening of February 21 and a musical program has been ar ranged that promises to be very I entertaining. There will also be a good speaker and there will be a Jitney lunch. R. H. Drake, president of the club has been Invited to attend a meeting of club officers at Sil verton on Wednesday evening where they will be the guests of the Silverton chamber of com merce. Younger Set at Roberts Enjoy' Valentine Party ROBERTS, Feb. 17 One of Xhe pleasant social events here this week was the Valentine par ty given by Miss Dorothy Rice Triday evening at her home. Mu aic and many jolly new games furnished a jtery enjoyable time. Refreshments' were served at a late hour. Guests for the evening were Marine Pettyjohn, June Ed wards. Janice Higgins, Ardeth Caldwell, Julia Query, Alberta Hansen, Gladys Hale. Floyd Da venport, Herman Semler, Henry Query, Howard Hennlngsen, Taul Carpenter, Raymond Higgins, Eollis Selmer and Bob Good rick. James Fry is busy with hjs day Id chick industry. He has at present fourteen large incubators and says he intends to buy some more. Most of the eggs hatched by him are the Rhode Island Reds and Barred Plymouth Rocks. Howard Hennlngsen has been building a new woven wire fence around part of the farm. ATTEND EXPOSITION RICKREALL. Feb. 17. Those attending the educational expos! tlon at Corvallis last Friday and Saturday from the Rlckreall high school were. Edna Middleton, Eva Mae Hamilton, Luzelle Crippen, Gertrude Larkin, Mark Capps, Ray Hafterson, Lewis Hafterson, Dorothy Middleton, Dean Allen, and Edward Antrican. Zena 4-H Club Is Organized ZENA, Feb. 17. Miss Lillian Reynolds, leader of the "Busy Bees," the 4-H sewing club which was organised February 7 at the Zena school, announces that Fri day, February 21, the dub will hold a meeting and nave meir first lesson in sewing. There will be a short program at each meeting. Officers of the club include Ruth Shepard, presi dent: Doris Fredericks, vice pres ident, and Alice Crawford, secre tary. Mr. and Mrs. C. F. FreaencKs and family of Zena, were Sunday guests at the home of relatives at Woodburn. Miss Lillian Reynolds and Miss Louise Seefeld, principal and pri mary teacher respectively, ot the Zena school, were week " end guests at the homes of their par ents at Monmouth and Halsey. Mrs. Philip Patrick of Port land, was visiting friends and acquaintances in Salem and Zena this week. While here she was a house guest at the homes of Mr. and Mrs. Jesse Walling and Mr. and Mrs. W. Frank Crawford. Friday afternoon Mrs. Patrick and Mrs. Crawford made a trip to the former home of Mrs. Patrick in the Zena hills. Mrs. Wayne D. Henry and Mrs. W. W. Henry of Zena, were guests 'at the home of Mrs. Fred Gibson of West Salem, Friday afternoon. They were accompan ied by Mrs. V. L. Gibson and Mrs. Charles McCarter of Brush Col lege. Mr. and Mrs. James A. French and David Howard of Nena, were guests at a birthday given In hon or of their daughter, Miss Evelyn French, at the home' of her grand mother, Mrs. Alfred French of Salem, Thursday evening. Lecture Series at Pratum Closed PRATUM, Feb. 17. Ret. Q. W. Asher, Bible lecturer, closed a very inspiring and also very in structive series of meetings Fri day evening. Although Rev. Ash er's request was that no collections were to be taken, the churches took the matter in their own hands Friday night and passed a basket and received $134. MOTHERS' HOPES Whot Chance Have They if Real Music Must Be Sacrificed to Machine -marie Sound? " By carrier you should receive your copy of The Statesman not later than 6:30. We guarantee carrier service. Trunk Prescription Rheumatism People one aerve-racaeo and Uplss trom torturing pain now VAsUty to relief in ths use of thW assess physician proscription. It m a doable action, designed to ease ia when you commence to use tt vud t mltimately remove the cause aot reached by oralnary methods, it does aot depress the heart or injure the stomach. - Sufferers who want re relief try Trunk's Prescription toaar. tt ana stood the supreme teat (or II yean. tumUU have it, MOTHERS strive valiantly to give their children happiness a chance to enjoy the -richest, fullest lives. Contrary forces for ever oppose Mother' hopes. Today change speed unrest work to thwart her longing for con tentment. . . . The ruthless spirit of the Machine Age threatens to crowd out all humanising culture. ... Idea and women whig heed lessly through life to the clatter of the eternal machine. ... Now, the machine baa entered the realm of the musical art. Is this the Bong of Progreast No I Machine- . made muskj can never provide a, substitute for the mellowing cul tural Influence ot Real Music. Those concerned for the future of the race will resent the strangling of the art of znusio by a mechanical THE AMERICAN FEDERATION OF MUSICIANS (C-mpriMng 146fiOO arrf I ifr! is thm VwUmd States mmd Cmmmimi JOSEPH N. WEBER. fmHtmt. 1449 Broadway, New York, N. Y. substitute In the theatre. Yet the art wilt strangled If this false economy is not halted by public de mand. . . . Here is opportunity for Mother and all who share her hopes to cast a vote for preservation of Living Music. SIGN THB COU PON. Then man 1U aiuican rcoEMTioa1 er MUSICIANS Mas Ytrk. M. Y. winwot rsruur teams - sa mj part, slew mnll mt sum la wm Mm Mm uun so i p MMd t t. ataiuUoa et I4fU4iatla tnst bm XSmtnw car..... "A Loaf of NOW FLAKE' ti HERE IS THE wholesome, appetizing loaf, that best serves the bread needs of the average family; and most economically, too. 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