Image provided by: Morrow County Museum; Heppner, OR
About The Ione independent. (Ione, Or.) 1916-19?? | View Entire Issue (Sept. 12, 1930)
THE IONE INDEPENDENT Published Every Friiiuy by W. W. I Ieao, Editor PuUish-r. SUBSCRIPTION One Year $1.50 Six Moiulu 0.75 Three Month 0..V) Eme red aa second Chus tuntti at the postoftW at lone, Oregon, umler act of March ;!, IS, a. Friday, Sept. 12,U)30. Lexington News Continued on Py. 4 on Sunday mon.ititf for Atitoru 0 e,ion. whert sue will take up her duties as instructor in th public aiho 1 there. Wayne Mc Millan and Vernon Scott drove the car for Mies McMiilen. PIANO IN STORAGE Looks and is like new. Will sacri fee for balance, $163 Terms, $2 weekly, or monthly or crop pay ments. Will discount for cash. Write Tallman Piano Store. 393 So. 12 St. Salem, Ore. Tsxcd for Unfart-jnataa Taxes for the n ; of the pooj Mart been levied In En.!nJ since USED MORE IT YOUR Electric Service is so for what you USE or fo that fraction of expensive equipment which must be tesmvd for your use instantly1. Assuming that electrical usage was confined exclusively to light, as it once was, it would not be possible for you to enjoy thei service at present low levels of rates. IRnce every Electrical Appliance you add to your house hold equipment does its part toward lowering the cost to to you for current doncumed in your service. Certainly there is supreme satisfaction in this thought: that the greater the degree with which you take advantage of our service, the Jess its cost will become through the Pacific Power and Light Company "Awflys at your Service" GOODYEAR TIRES have all thegod qnalillies, Materials, Workmanship, AndRight Price. For Automobile Service & Accessories go to INDEPENDENl GARAGE one - Ore. Ralph Buiiii was up Uvw his Cecil ranch, on Monday do ing business at the Farmers' Warehouse. Mr. Butler is en gaging extensively in tin Key raising from which he expects to make a good profit. iWltur Tucku surprised hu friends and relatives when he arrived in Lexington on Sun- ! day, bringidg his bride whe be fore her marriage was Miss Merle Leslie. U . t i - ' e are informed py a grange, officer that meeting dates have been Changed from the first .in.i thini VV,Wc,r-v Inthn' I ; ;" 1 .nrsi anutniru samruay oicaco pcr Hanging and General Re month. L!IIT.I. 1 Lexington schools were dis-( missed on Friday afternoon so I that student coukl tr.ke advan tage of admitU-nce to Heppner Re jeo attraction. Mrs. Hot; i Itelms is reprcs entating the Zinc! line of iwc food;. She was showing he good? last week to Lexington house wifes. COSTS LESS! arranged that yot yay only J I li :!:: ill Uncle Eban "i: von hotly Is entitled to hi own opinion." said I'nele Kben, "Mini ua he's entitled to a dog, If he'll keep It f'utn bothorln' other people." W'ush niton Star, M.Uind't Virtues Tin' three theological virtues, ax act forth by the Kotunti Catholic church, hip faith, hc; ami charity. The four cardinal virtue are prudence, Justice, fortitude and temperance. Roman Ruini in Africa ' The excavations at 'Tliugad, In Al Gerla, known as the "African Pompeii," hnve disclosed a subterranean water Ktom, a theater, market and public nWiry hnttt during the nonmn m-u. ""t!""- T rUrU A I sir ... Carpenter Work, Painting, Pa- , lone. Oregon, $"; J PROFESSIONAL CAFD J ip i . .... U& J. L. lALLAWAl Osteopathic Phsidan Hi nun H.rl'lmu litone 93 lit bpotr, Orcnoa JACK FERRIS -: Dermatician : It pays to, look well. "Specialist in Bobs" C.L.SWEEK ATTORNEY AT LAW. First National liank BUg. Heppner, Oregon i t t A t t When You Visit Heppner Eat At The "Elkhorn Restaurant" t Good Meals Best of Service t i f Luncli Counter A.D. HcMURDO, M.D. J rhysician And Surgeon rf,' lit . UlilCe In MaSOniC Building Trained Nurse He ppner, Assistant Oregon A.B.GRAYM.D. ! Physician & Surgeon llippnzt - - Of.n Classes Fitted F. H. ROBINSON Attorney & Counselor At Iw M III I'rnctlce tn At! The Court, IONE OREGON A( X r Dr.J. H. Mc Crady Dentist X-Ray I) A (iXOSIS Office; Odd Fc lows Bld'g. Heppner Oregon J. 0. PETERSON- EXPEiir WATCHMAKER AND JEWELRY RCPAIRER Hf ppner, 0 iron. Dr. C. W. Barr DENTIST J'hone M 1012 Cilmsn BUg. Heppner, Ore. Evenings and Sutiavfhy appointment. lone Independent JOB PRINT STATE TAX MEN AND BANKERS Hi ACGQiiD Months of Negotiation Lead to Agreement on Changes Broad ening Method of State or Local Taxatiorfof National Banks, NEW YORK. Months of conforoneo and negotiation between an American Hankera Association apeclal committee and the Committee of the Association of Sratea on Tank Taxation have re suited In an agreement on a form of amendment to tho Federal atatula dentins with itate or local taxation j t national banks that "maintain the In tegrity of tho protective principles of the section and It satisfactory to t'.to , commissioners' committee," say tlu A mcrlcan Hankers Association Journal, Thomaa B. Paten, tho or.tanl.-.atlo'i'a General Counsel, In making tha a uouncement aaya that previously pro poicd amondmonts to tha ntntu!e, which la known as Section 5219, havo been orpoaed when It was felt their terms would enable any atate to placo banki In a tax class by themnelves, I "The law aa U i';-.:uh t K-'ay." Mr. tTuton aaya, "permlta atate or lor::! 'taxation of national banka or the'" 'iharcholdera In oue or the other t the four following .. r.-ns: tho ahare jholden upon their ah.TOi, a prop erty tax; the ahareholdera upon their dividends, a personal Ir.ccme tax; 'the bank upon Its net income; tha ! bank according to or measured by Its net lnconio. Only ot:o form of tax can be Imposed, except that tho dlvldt;id 'tax may be combined with tho third or 'fourth form If other enrnoratton av.A 4 ahareholdera are likewise taxed. t "The conditions permitted ar: th 2 1 tax on aharea must bo at no arratrr irate than on other competing moneyed J capital; the Income tax on aharebold- 'era must be at no r'cater rate th.u I on net Income from other moneyed 'capital; the tax on bank net Income. must be at no higher rate than on other financial corporations nor tho I : highest rates on mercantile and tnanu f ' facturlnjc corporations doing business Jt within the atate; thi tax measured by 4' ret bank Income la subject to the ipan!e limitations aa the tax on net j Income of tho bank but may Include 'rntlre net Income from all aources." j States Seek Broader Law i National banka and their sharehold ers are taxed In different states under i diversity of systems, he says. Tho tetlng moneyed capital. A number of r'.ates, unwllllnz to use the Income ; r!elhofJs Permltted- h!,d ! tire ot either repealing t the alterna te Intangible tax lavrs or limiting taxation of na tional bank aharea at tho intangible rate. Therefore th;y souKht a broad enlng of the permissive provisions. Also, Mr. Paton lints out, a Su preme Court decision held a stato'a excise tax on corporations Invalid where It Included Income from Federal ana iocbi govcriiinciii uoikih hi iiio n- Ue measure. This created doubt as to some stato bank exclfo taxes. "Conferences have been held to reach aorrm agreement which would X ! protect the banka, satisfy the tax com- 1 mliilnnen anil avnld a rnntrat In fnn. tigress," Mr. Paton says. "From the tandpolnt of the tax authorities, the main objectives have been an amend- imcnt which would permit certain statei to retain their low rate tax upon 1 1 Intanglblea and at the same time do X I rive an adequate, but not excessive, rAVAnua tmm nnftnnat ti.nlr ahflma ' f-JSZtt. ! , , , 1;fKl' nJ Curat M,.., Ituttcr and l-s. l'T'SrirSK ".'.Xm j Wc Buy Cream for Swift & Company. S?LS I! C ll )Vhy no' Sc" Your Cr"m ' Yur Home Town? X'tnd an amendment which would per mit certain atatcs to tax c.;, jratlons cn their net Income, excluding income from tax-exempts, and at the aatne time derive the same revenue from the banka as heretofore. From the iianapoini 01 me czn:.z, n i.-j been .aniAil ImnarttMf. I mnlnlflln Ih. protective principles of Section 5219. : l nv vnanyca yi ecu vn t "In the proposed amendment the ex isting provision permitting taxation of blank shares no higher than the rate upon competing moneyed capital has been modified with respect to certain I.,... 11.1- ... ...... , . i ibioiijiuio iai aiaiei 0017 oj provi- ilon under which, instead of the moneyed capital limitation, the rate stall not be greater than the rate upon (He shares of other financial corpora tion.', nor upon the net assets ef indi vidual, partnerships or associations employed In tha banking, loan or in vestment business, nor higher than the rate assessed upon mercantile, manufacturing and business corpora tions with head office In the atate. "Also an addnd fifth alternative per- mjxslve method, designated as a ape- .'Iflc tax, permits a state, In pluce of an nd valorem tax on bank ahares, to add together total dividends paid tho preceding year and the Increase in capital, surplus and undivided profits, less additions to capital or aurplus paid In by stockholders, and to divide this total by the number of share. The state may tax the aharea based upon this amount, but not to exceed the rate on other corporations in pro portion to their net profits. "This method Is designed for states which have heretofore taxed national baiikj) upon their entire net fncomo from all. sources at a proportionate tut to that assessed upon bualncKS corporations. The amount which Is the basis of the tax Is the equivalent of the entire net Income from all Kourccs, but bolng asKewcd agaliwt the shareholder upon his property In tho shares and not a tax upon the bank, It Is not open to the objection aa an Indirect tx on exempt lnconio." I, If. of Mjiitt The bureau of NtHiul.ird w;, that icupiM'ly hiinli'iii'il i ml w ii i I iiiaitni t i-el will Imlil It iniutiiclhuii Indoll i.lli'ly utile mthjeet to vacohnIvp tent ii'i'nlui't, iiu'i lii: n It n l shut I, s or (he In lliteiice of niiiijtictlc Hold, CrraUtt farming Stats? Iowa claim the lurijit proportion of mlimlly arahlc laul In the I'nittil j UiU' i STRAUSS & CO. Grain Dealers, of Portland, Oregon Will Be Represented this Season by W. M. Eubanks T It will pay you sell your wheat. Before contracting or selling your wheat it Will pay you to .see L. Balsiger representing B. G. and Co. lone, Oregon '4 t4444WW44WWW4W. IONE CASH MARKET Dt-alers In Real Estate X i Peterson )t"LW BLACKSMITH SHOP"1 We are prepared to take care of your shafting retirements by the installation of an electric key way machine anJ a stock of shafting in a wide range of sizes. We also have a list of second hand combines for sale. Agency fcr the Harris Manufacturing Companies new combines. J- P- O'Meara, Proprietor , J -U-U.tt..tt..tt... 4 HHMWWM.... T :: :: :: A'" 5:: ft:: 5:: ft: ft:: ft I a Hotel cater to the wish first class accommodations. Cole Smith, Manager. ft:: ft:: ft:: ... tt" . Farm Implements VULCAN and OLIVER FLOWS, SUPERIOR DRILLS, FAIRBANKS MORSE ENGINES, MYERS PUMPS, STAR and AERMOTOR WIND MILLS. WINONA WAGONS Bates Steel Mule Tractor . PAUL G. BALSIGER For l'o1tJ I'Imu A few drop of iiinnioiilu put Into j cai h t mi tt of water, wllh which bonne ! plant nre watered, will lnipro the color of the foliage and Iiu'ichhm the growth, NapnleoVe Ynrt In t'. .11 The boat bt'iirhm Napoleon li ir.it anchor at St. Helena iMnhi-r I.V I J", mid Napoleon die, I May ft, l'JI, nl out flva year and a half later. to see him before ou Insurance Brothers ' " "TTTTTTTTTTTfttttt1 I ,, 1 1 1 1 1 , 1 1 1 1 . . , 1 . . 1 ,. . 1 , 1 . . 1 , . I one patronage of those who 1 ' T 1 4 4 " f ' ' i 1 f , 44.4A4.4. Ulllioi,.. "'""""4k k I' X X t X t i 4 lone, Oregon