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....
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a
Hotel
cater to the
wish first class accommodations.
Cole Smith, Manager.
ft::
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.
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
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patronage of those who
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lone, Oregon