THE SCIO TRIBUNE umi!gt> gvntv ybumbay by T. L. pvo<;ra. aonoa and raor Entered at the Doetoffiee at Scio, Oraron aa second class matter. AIIVKMTlfilNt: HATXJ1 Ixwal advertising per line first In­ jo sertion .......................... . Hoch sutsMH|u«Mit UwwU’W per line. 06 Display advertising- First inserì Ion per Inch......... .................. 26 Hach subeequent Insertion .................. 16 Advertisements shouM rvarh ths» ufllcc not lalor than Tuewiay lo insù re publl- aalhx. m tb«- current issuv All fi»r»ign adì»rtiswn«mta must br patri for in advMiee of pubtocation / pledge allentante to my flag ana the Republic for u hkh il danti». one ¡Nutton. mdtvinble. vith liberty ana huiice for all Ml’IO. OREGON. MARCH a. 1921 Special Tai Levy. The lieraid hopes that the |w*oplc of Linn county will support the pro­ gram for county development which the county court has in mind by vot­ ing the special tax levy of four mills that will be placed upon the ballot at the special election in June Du­ four mill» raiM approximately 1120. 000 and this sum the court will ex pend on three projects dredging of the Santiam above Sanderson bridge, payment of the county’s share of the Unn-I-ane Pacific highway bridge at Harrisburg, and the improve- meat of the county’s system of road* in various parts of the coupty.— Al- bany Herald. In this part of the county the opinion is freely ex pressed that the proposition to add a special tax will be defeated. Pre-election promises that were not fulfilled have not been forgotten by the people. If the earnings of the people are to be squandered by public official» charged with the duty of conserving these earnings, there is little use in preaching thrift to the people. There have been numerous instances of late years in which city, county and stale and national representatives of the tteople have not exercised the caution in this respect which they should. The West is seeking hund­ reds of million* of new capital for development, but unless we t>egin tn reduce per capita taxation, instead of doubling, trebling and quadrup­ ling it, money is going to be harder and harder to get, for the investor fights shy of tai ridden communities Chickens Come Home to Roost. 1U I The right of congress to exempt federal farm loan lionda from taxa tion Is luting disputed In the courts. Therefore federal farm loan banks are unable to sell any bonds, with applications for loans totaling $66,- 000.000. and (NT farmer» need the money. If tax exempt bonds for purely private purposes can tie issued for the farmers, by the same authority they ma* be nmued for manufact­ urers or any other class of citizens who are just as hard pressed for money as the farmers. To furnish money fur the federal farm loan banks, [tending deciaion of th» eourla as to the legality of them Irving tax exempt, it ia pro- pose«l that the U. S. treasury take f200.000.000 of farm loan bonds. Already 115.000.000.000 of Ux exempt securities have been issued in this country ami absorbed by in vestors in order to escape the heavy surtax and Income tax. The U. S. treasury is hard pressed for money ax it is. To buy these bonds it must use lax money. That the farmers need government »id largely from the scarcity of capital for farm loans. This scar­ city is due to the scramble to buy tax exempt securities, because the same income would be so heavily taxed If inveated in private enter­ prise or farm loans Can the gov­ ernment remedy the situation by loaning ‘'taxes” on tax exempt se­ curities when it must collect the taxes which it loans from some other overburdened taxpayer? The present situation is the out­ come of taxing the earning power of capital out of existence. Source of revenue ia soon dried up. Capi­ tal may lie confiscated by the gov­ ernment ami spent, ami then there ia nothing left to tax or confiscate. Baaorter’e Notice to Creditors Notice 1» hereby given that the un- Nutks is hereby given that the un- lerstgnsd has been duly appointed ex* «h-r»i|>ne.| administrator of the estate ecu tor of the last will and testament of of Agnes Mae Miller. deceaasd, has bled lassie Bilyeu, deceased, by the county his final account in the matter of »aid •uurt of Linn county. Oregon. estate with the county clerk of Ljnn All persona having claims against »sid County, Oregon, nnd that the County •elate are hereby required to present Court of said county ha« fixed Munday, th» same properly verified as by law the 21»t day of March, 1931, in the coun­ I r«<|uir«d to the undersigned executor at ty court room in the County court house his residence in Scio, Oregon, within in the city of Albany u the lime and •tx months from the first publtcatiou [dace for hearing ««*« sustained io trade or business, losae* sustained in tran­ sactions entered into for profit. th<» not connected with a trade or buai- neaa, louse* sustained of property not connected with trade or bu«i; nc«s if arising from firs*, shipwreck storms or other casualty, or from theft. To the extent any of the above losaen are comi«enNited for by insurance they are nut deductible. To lie allowed as a deduction in IF YOU WANT to buy or trade for 14M the ruturn for 1920 a loaa must have scree good stock lam) near headwaters of the 1 aquiua in Benton county see liecn actually sustained during that The Tribune’s printer. >r»r A 'axinio r may fr.-i certain that real eatate owned by him is worth lem than what he paid for it. A n.« rclu»nt may lie convint. 4 that Washington, Feb. 2K. The fed- eral farm loan act was declared constitutional today by the U. S. supreme court, and the court de- clared farm land (tanks are lawful institutions and authorized to issue bonds. The decision came in a suit which has halted the business of the certain stock cannot be »old unleaa In neither farm loan system for several months marked below coat. The decision is expected to aid in event, however, is he entitled to a relieving the financial distress now claim for deduction until the lose i* confronting agricultural interests, made absolute by sale or other die- as it will now !>« possible to extend ' position of the pr««pertv. , Claims for liaauqi must conform more loans to the farmers. ’ closely to the wording of the United During the past year thia country has seen man made laws upset by economic laws, and man mail«-prices scattered to the four winds by the laws of supply and demand By law we can hold priee* down, but we have lieen unable to compel production At such prices. By law we can hold prices up, but we can­ not force the public to buy. Manu­ facturers can increase the price» of Report o< the «.onditi« n of their wares and labor can increase Dll. SCIO SIAD. BANK its wages to an exorbitant figure, At Scio, in the State of Oregon, at tbt* but neither the manufacturer nor close uf business February 21, 1921: »Mouaota the laborer can force the public to Loans and discounts ......... I17H.3O4.31 buy Overdrafts, sefured and un­ During the past four months the 36.34 secured. ........ ............ manufacturer and the laborer have Bonds and warrant» and U.S. Tress t ert........................ 39.221.«7 been given a lesson in these funda­ Banking house.................... -.. mental truths which they will not Furniture and fixture« .... soon forget. In other words, econ­ Cash and due from approved reserve banks................. 120.966 90 omic laws have forced them within 141.97 Checks and other cash items the bounds of reason We are now witnessing the strug­ Total.................... rwt.«7t> 1» gle of the railroad labor union» to IJABIIJTIka prevent the working of economic Capital stock paid in........... . 110,000.0ll laws in the labor situation. Man­ Surplus fund ..................... 10.000.00 made laws art an artificial railroad Undivided profits, h-«aex|«n- M-s and taxes paid .......... ft.749.16 wage. Th» man made laws had to Individual deposita subj««ct to set a railroa«i rate sufficient to pay chock ... ............< . 22H.0I4.» the railroad wage. But neither the tb-mand certificates of railroad unions, which were power­ i.no.&o deposit ............................ ».Otó .97 ful enough to force laws in their Cashier checks outstanding.. favor, nor the com panics which were Time and savings deposits. .. ............ 71H1OO protected by laws governing their Iteaervcd for interest and rates, can force the public to travel 5M7O7 taxes ......... l-ettcr« of credit or ship freight. Railroad managers have seen the Other liabilities handwriting on the wall and are Total.. trying to reduce operating ex|temtes State of < Iregon, ) in line with other industry. I read­ er» of railroad labqr are relying on County of l.inn ' I, F. D Myers, rashier of the above their man made laws to pay them a named bank, do solemnly swear that wage in excess of that set by the the above statrment is true to the beet of my knowbdge and belief. law of supply and demand. E. II. M ikma . Cashier. ’’Old man economic law” site l>ack I Subscritwd and sworn to before me and chuckles as he watches railroad this 26th day of Feb., 1921. labor trying to force special advan­ R. Shelton, Notary Public tage for a limited claaa of employ­ My commission expiree Feb. 14. 1925 Correct attest: ees. knowing well that the success W. A. Ewing, A. E. Randall. Directors. of such a program will mean the wrecking of the railroad* and the Notice to Creditors. downfall of the laltor organizations Notice is hereby given, to all whom it powerful enough to enforce man may concern, that the undersigned has made lawn. l«ern, by th«- county court of Linn coun­ There is just one wav to beat “old ty. Oregon, duly appointed administra­ man economic law” at hisowngame tor of th«- estate of I o-orgianna I lugger, readjust yourself before he is late of Linn county, I m-gun, dtrcesscd. Any and all persons having claims forced to teach you a lesson. Will against said ««late ars hereby required railroad labor and the railroad man­ to present the same to the undersigned agements t«e smart enough to do al hut ,e«id«-nce at Scio, l-inn county. this? Industry, on which the pros­ Oregon, on or before six months from perity of both depends, is awaiting the date hereof, duly Verified as by law required their decision. Dated thia 1st day of March, A D 1921. T L. DUGGER. Administrator The Oregon Parking Co. al Cinte- '• i kanie ciosed thè kraut-wason cutting Wt-alherfonl A Wyatt, Attys for Admr SUO tona Oregon kraut is aold all over thè United States and Hnwaiian Advertise ia Th«- Scio T ribuas and get reoulta. Islanda under Del Monto label I Jbtlniii Obtained. ramme J OREGON *10 The Scio Produce House BUYS j All kinds of produce, poultry, eggs E and veal E also State* statute*. A loss sustained in the sale of an automobile purch­ ased for personal use is not deduct­ ible, la-cause it is not a transaction "entered into for profit.” A Iota sustained by a taxpayer in the sale of his home is not deductible for the reason that >>r SCIO OARAGE H m the Hood, Rncinr, Ajax Tire» and Tube» The Shell, Monogram and Monomobile Oil» The Detroit Batteries - Battery Service Station All KINDS OF REPAIR WORK Electrical Work a Specialty W. L. COBB, Proprietor. r