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