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About The Athena press. (Athena, Umatilla County, Or.) 18??-1942 | View Entire Issue (Feb. 14, 1930)
THE PRESS, .ATHENA, OREGON, FEBRUARY 14, 1930 CONTENDS SUPPLY WILL MAKE PRICE Hyman II. Cohen Stresses Point In Comparing Pro duction for 1929-30. The Press desires to publish for in formation of wheat growers i every angle pertaining to marketing of wheat under present conditions and what may be the ultimate result in marketing under the new cooperative plan. The following" article, explana tory of the basis of supply and de mand as the regulative factor of the selling market of wheat, is from the pen of Hyman H. Cohen, market editor of the Portland Journal: If the United States will produce but 600,000,000 bushels of wheat there appears little doubt that the price can be sent upward to reasonable limits. If the United States pro duces as much wheat as it did in 1929 the totals being around 800,000, 000 bushels then the producer must accept what the world is willing to gay for supplies. A crop of close to 600,000,000 bushels can be con sumed at home, i therefore any sur plus above that will be affected by foreign conditions. In ' turn, - this would to a degree affect the domestic price. If the United States govern ment is willing to accept a loss on these odd 200,000,000 bushels or so, then the producer can secure a high er price than the world's basis. There is no magic in these figures. . Some-j one must pay the difference between what the world is willing to give for wheat and whatever higher price the United States farm, bureau quotes. At the present time the price of wheat in the United States is above what the world generally will pay for wheat. This has resulted in an unusually small export movement. - If the supply of wheat is cur tailed in the United States . through any agreement the farm board may make with producers, this is not like ly to solve the price problem unless this production is just sufficient to take care of the home demand If the United States farm board is suc cessful in curtailing the domestic planting of wheat, it does not mean that the world is going to be with out its accustomed supply of cereals. Usually if one country curtails its acreage, another increases its quota. The result is that, barring accidents to the crop by reason of. adverse planting conditions or the weather, the world as a whole will continue its liberal output. The United States has the ex perience of other countries in their attempt to manufacture prices on' commodities. Supply and , demand eventually make prices, but in the meantime if a country has a long enough purse it can affect values. For instance, it took many years for the Brazilian government to . under stand that it could not overturn sup ply and demand except at enormous expense. Brazil nearly" bankrupted itself in its effort to continue an artificially high price for coffee in the face of liberal production. A few years ago England discovered its error in trying to establish an arti ficially high price on rubber. Every one knows what happened to the British rubber trust and what event ually happened to the price. WAN 0 The Owner Serves. The Buyer Saves. Courteous service, Quality Groceries, Lower Prices, Owner's service. These are the foundation of Red & White Service. SPECIALS FOR SATURDAY AND MONDAY Serv-Us Coffee 1-lb. Glassine Bags c ,: v-;v. . v .;-:40rv:.;; r: r Cigarettes--Lucky Strikes, Chesterfield, Camels, Old Golds, Carton .y"y..'' , $1.25 .. : Serv-Us Hominy 21s 3 for 47c Sauer Kraut, Red & White 2y2s 3 for 37c Shrimp, Blue & White Is Med. .2 for 35c , $ Shrimp, Red & White, Is Med. Peas, Extra Standard $ aiorjc Blue and White Corn 3 for 47c $ Toilet Paper Red and White $ 3 for 23c : Nalleys Mayonnaise, Pts. & 29c w Lux Toilet Soap 2 for 15c $ Black Walnut Cake Special $ . 49c Ifi . , Rolled Oats, 10-lb. sks. j 49c $ Picnic Hams, per lb. I ED MONTAGUE $ PHONE 171 'i: Goodyear Tires and Tubes Val vollne . Oils Automobile Supplies, Parts and Accessories Athena Garage North side Main Street - - Phone 352 FAIR AND SIMPLE Willi) nn i uu Si Intangibles Tax Said To Be Not Complicated As the Name Implies. Salem. The intangibles tax is not the complicated affair that its name might imply, according to a state ment issued here by the state tax commission in an effort to explain the new tax law and its operations. It is simply a tax of 5 per cent on gross interest and dividends in excess of $200 received by resident indi viduals and estates and does not ap ply to any other income such as prof its from business, sale of securities, rentals or salaries, i "The first taxable year is 1929," the statement pointed out. "Only interest earned since December 31, 1928, and received in 1929, is required to be in cluded in the 1929 returns. Interest on bond coupons is considered as re ceived when due and payable. Divi dends declared after December 31, 1928, are taxable in the year paid. "Interest on Liberty bonds and all other obligations of the federal gov ernment are exempt from the tax. Interest on state, county and munici pal bonds and on all notes, secured or unsecured, is taxable under the law. "Proceeds of life insurance policies, payable on death of the insured, are not taxable. Dividends on insurance policies, payable during the life of the insured, will not be treated as tax able until the insured has been fully reimbursed for all premiums paid. "Income from building and loan and savings and loan investments are con sidered taxable when the contracts mature. The amount received in ex cess of the amount paid in represents interest, and only such interest accru ed in 1929 should be reported on the 1929 return. . "The intangibles tax is imposed upon individuals witnout respect to marital status. Joint returns are not permitted, but if savings accounts or securities are jointly owned by hus band and wife, separate returns may be filed and each may claim the full exemption of $200. No return is re quired if the individual interest and dividends does not exceed $200. "The payment of the intangibles tax relieves the taxpayer from any liability for property taxes on the money and credits from which the in terest and dividends are received. Under the former law, money, municipal bonds and other securities were taxable at the general property rates. Little property of this kind was actually found by the assessor but when it was assessed the tax absorbed all or a large portion of the income. The new law takes only one twentieth of the income in excess of the exemption. This is equivalent to a rate of 3 mills on a 6 per cent se curity. ' - '. "The intangibles tax is not an ad ditional tax. It provides no more spending power for the spending agency. Under special provision of the act every dollar collected from in tangibles must be used to reduce the state levy on property. Some criti cism is being waged against the new law on the ground that it takes the bread and butter from some retired people who depend on interest and dividends for their sole support. That is regettable, of course, but the criticism ; is largely exaggerated. Under the present intangibles tax law. an old couple may own jointly 5 per cent securities up to $8000 without paying any tax whatever. If the couple have $12,000 invested in such securities, the total tax thereon would be only $10. "It must be remembered that no consideration has ever been given to the old people who happen to have their life savings invested in real estate. Surely an aged couple can pay a $10 tax on a security of $12,000 with as little discomfort as they could pay $200 on a similar invest ment in real property. Furthermore, the property tax permits of no deduc tions for indebtedness. "It was the purpose of the legis lature in passing the intangibles act to substitute a practical, low-rate tax on money and credits for the obso lete general property rates and pro vide corresponding relief for property taxation." Athena Splits 50-50 in , Pilot Rock Doubleheader,: Games Lost To Adams The Athena boys won their game handily from Pilot Rock high school on the local court Friday evening, 36-10, but Athena girls lost by one point 23-22. " Coincidently the local girl team lost to the Pilot Rock girls three weeks ago at that place by the same score. The Athena girls led through the game until the very end. With two minutes to go and the score, Athena 22, the Rock 21, one of the visiting forwards looped in a basket from a difficult angle, that decided the con test. Three of the Athena girl play ers played under a handicap as the result of illness. 1 Athena 22 23 Pilot Rock Myrick 5.;............F.......... 13 Smith Campbell 11 .....F...-...10 Humphrey Miller 6 .. .C........ Wallace Douglas .............i..C............u.. Douglas M. Montgomery ,.G Whitacker L. Montgomery ....G.....;............ Folsom Tompkins ............S.....i....... Oliver Barrett ..S - v Boys Game ;; '. . "Pike" Miller's Athena high quin tet again proved to be masters of the Pilot Rock lads in all departments of the game, taking the second con test of . the season by the one-sided score of 36 to 10 in easy fashion. The coach left his first string in for the greater part of the contest, giv ing them the benefit of playing to harden them for the coming district tournament. , , , Athena 36 10 Pilot Rock Myrick! 16..............F.... ...5 Hempbell Jenkins 10............F................2 Massey Rogers 3.,..............C........;. 1 Bracher Huffman 1 ......G.. ......l Mitchill Crowley 4.......:....G...:,....'......, Shopshir Hansell 2.. S....... .'. Boyd Reeder S.......L... ....1 Byrd Wilson ...S Athena second stringers went to Umapine Saturday night, where the boys won 17 to 6, and the girls lost 24 to 15. : Athena rooters made a hit with Umapine by their impartial cheering of the players. - Umapine will play here February 22. , Adams! Takes Doubleheader In a doubleheader tilt with Adams high school at Adams Tuesday eve ning, Athena high lost both games by close scores. The girls' game went to Adams, 12 to 10, and the Athena boys dropped theirs 16-18. Both games were well played and developed into thrilling contests, with exceptional good refereeing on the part of Eddie Buck. Athena seemed to be handicapped to some extent in both games by the players being not used to a slippery court At times the girls' game showed roughness in spots, while the contest between the boys went over fast in clean-breaking team '.. work . throughout both halves. , The lineups: . -- , , Girls Game , . Got His Grub Stake . The State Game Commission says there should be no lack of food in the household of G. W. Ramsey of Esta cada, for some time at least. Last wk he reported at Oregon City with the pelts of twelve cougar which he had killed in the Clackamas River dis trict above Estacada. There he claim ed a county bounty of $120. Then he sent proof of his kills to the state eame commission and collected an ad ditional $300 in bounties. Incidental ly his work with gun and dogs saved Oregon approximately 600 deer, for a full grown cougar will kill an aver age of one deer a week. Small Interest la Rabbits Word comes from Hermiston to the effect that lax interest was mani fested by project ranchers this win ter in poisoning rabbits, with the re suit that only in sections were poison operations carried on. One farmer who put out poisoned bait, on the fol lowing day counted 180 dead rabbits It is said rabbits are not as numerous as formerly on Heroiztton lands. . Campbell 3. .. F..... Myrick 7....... F....... Miller. ......C...... Douglas C L. Montgomery....G M. Montgomery G...L, Hiteman S....... Tompkins ....S...... Barrett...... S : 1: Boys Game Myrick 7....... F............5 J. Hodgen Jenkins 5.... F..:.....3 B. Hodgen Rogers :...C.... Forrest Hansell 2... ......G.... 8 LaCourse Huffman ...G....... Murry :.......4 A. Kirby 8 Thomas ...J. Kirby...... ...:.....La Fave ....... Kimbler E. Kirby Allen Du Puis Crowley 2............S... ..2 Hall Athena Takes Second Game From Weston Athena town basketball team added another victory to their list by de feating Weston 24 to 19, on the Wes ton floor, Monday .night. Athena scored first by dropping in a field goal, but Weston evened the count and then tried a flock of free throws which was good for one point The first half was featured by long shots, with but few counters. The score at half time was Weston 16, Athena 9. In the second half the locals chang ed to a short passing offense which was effective in getting the ball down the floor and in the basket. After Athena gained the lead there was no doubt as the outcome of the game. CLASSIFIED : $165.00 cabinet phonograph your? for only $18.50 at Pendleton Music House. Pendleton Music House offers a good used piano,, $15.00 down, $8.00 per month. j Eees For Hatching-Eggs for hatching, from the famous Joe Han son strain of non-setting Rhode Island Reds, from $1 to $10 per set ting of 16: from $5 to $10 per 100 for incubators. Cockerls, $3 to $5 each. John Ross, Rl Milton, Oregon. Phone 24F5. Apr. 4. New Baby Upright Piano only $295.00. Terms $2.50 per week. Your old Piano accepted as part payment. Pendleton Music House. Victor Orthophonic has been used as demonstrator can be bought at large discount selection of records free. Pendleton Music House. Repossessed Player Piano just like new with bench and large selection of Music rolls Yours for the balance of Contract on easy terms. Pendleton Mtrslc Howe. . , 7 A moor G&Eg Plows Oliver 3 and 4-Bottom, 16 inch-the New No. 4 16-High Lift, giving plenty of Clearance. v. 3 and 4-Bottom, 16 inch, with High Lift and plenty of Clearance. Either Plow can be operated by tractor driver from tractor seat Made to give Satisfaction. Rogers M Goodman (A Mercantile Trust) Horses Shipped to Rogue That the raisine of heavv draft and farm horses in Rogue River valley is on the decline is evidenced by the auction sale of a carload of horson this week at Grants Pass shipped in irom eastern Oregon and sold to the farmers and orchardists of Jackson and Josephine counties. The carload consisted of geldings and mares, 5 to a years old, weighing 1200 to 1700 pounds, low down block built, some well mated, well broken and gentle, all selling for fair prices. ..' Gardner Wins Tommy Gardner, favorite of local fight fans recently won a six-round bout from' Johnny Gardeno, in a special six-round contest at the Hol lywood Bowl, in Los. Angeles. ; ; Fire Destroys Building A building n Walla Walla, ' be longing to Mrs. W. S. Clark and used by E. J. Mowrie as a cabinet mak ing shop, was completely destroyed by fire Saturday night about 12:00 The fire started somewhere in the back of the shop and had spread throughout; the one-story building be fore it was noticed and the alarm could be turned in to the fire station, according to the fire department. - DR. S. F. SHARP PHYSICIAN AND SURGEON Athena, Oregon j DR. BLATCHFORD Dentist Post Building, Athena, Phone 582 We Can Cast Your Plates The installation of an Elcctricaster Stereotyp ing Machine makes it ' possible for us to accom modate our merchant advertisers and others i n t he ma tier of making printing plates from matrices. It means a val uable addition to our rquipmentintheraatter of serving our patrons. PETERSON & LEWIS Attorneys at Law Stangier Building, Pendleton, Oregon Practice in all State and Federal ., Courts. . WATTS PRESTBYB . Attorneys-At-Law ,. Maui Street. Athena, Oregon .State and Federal Court Practice Dr. W. Boyd Whyte CHIROPRACTOR Stangier Building, Phone 706 Pendleton, Oregon. 957 I Jensens Blacksmith Shop Repair Work Prices Reasonable Athena, Oregon Why suffer with tired, aching feet? Regardless of their condition, I can help you E. M. M0REMEN Foot Correctionlst 22 W. Main St. Walla Walla eiM Announcement THE FIRST NATIONAL BANK OF ATHENA, OREGON, Announces that it has com-pleted the organ ization of a Trust Department and is qualified to act as Executor, Administra tor, guardian, or in any other fiduciary capac ity. Just think what 37 years of successful banking experience would mean to the executor or ad ministrator of your estate. Ask us for Information Ts