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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 1, 1935)
PAGE TEN SIEDFORD MXIL TRIBUNE, MEDFORD. OREGON,' TUESDAY, OCTOBER 1, 1933 WEALTHY CITIZENS GIVE WEALTH AWAY TO AVOjDNEW TAX Fifteen Million Disposed of in August Is Report of Securities Commission Recipients Not Listed By Richard U. Ortdlejr United Press Staff Correspondent WASHrNOTON, Oct. 1. (UP Handful of wealthy Americana de posed of nearly 15.000.000 of their fortune by gift In August as the time drew nearer for the Imposition of draatle new federal gift and estate taxea. the securities and exchange commission repCu-ted today. Following tfu lead preTlously set by John D. Rockereller, Jr., In disposing a! 77,OO0,0OO, or a quarter of his known Standard Oil fortune, other capitalists like Oeorge F. Baker, 8am uel Zemurray, Ogden 1. Mills and M. U. Flelshhacker were shown to be busy In reducing their estates by gifts or other means. Tax Starts January 1 These operations were believed to be only a small part of the transfer of wealth proceeding throughout the country In possible anticipation of the new tax bill which goes Into ef fect January I, 1938. The bU Itself was part of an administration pro gram to pare down big fortunes thru taxation. Treasury officials have re ceived numerous inquiries relative to avoidance of new tax levies. Under the new gift taxes to go Into effect January 1, gifts up to alo.000 will be taxes l',4 per cent instead of 14 per cent. Rates above Increase over the old rates In a graduated scale until they reach $80,000,000. when the rate Is 52 '4 per cent. The old bill provided for a rate of 45 per cent on this site gift. Baker Splits Fortune A breakup of the vast George P. Baker fortune was shown in the sec retary's report today. Baker, who recently Inherited a multl-mllllon dollar fortune from his father, was shown to have given away securities worth $6,132,000 in August. Several million dollars' worth of his securities were sold in the open market. Former Secretary of Treasury Ogden L Mills gave away 1000 shares of Cerro de Pasco common stock worth (58.000. A partial list of disposition of stocks by gift or transfer last month la shown in the following table: Eugene Du Pont, Wilmington, Del., 15,000 Du Pont, 1.878,000. Samuel ZeMurray. New Orleans, 20.000 United Fruit, $1,360,000. Edward Williams, Cleveland, 7500 Sherwin-Williams. $810,000. K. T. Keller, Detroit. 6400 Chrysler. $388,800. R. E. McConnell, New York, 7000 Mayflower Assoc. $378,000. William O. Tuber. Rochester, N. Y., 2000 Eastman Kodak, $310,000. M. C. Honeywell, Wabash, Ind., 3000 Minn. -Honeywell. $306,000. Charles A. Stone. New York, 30,000 Stone & Webster, $210,000. ' M. M. Flelshhacker, San Francisco, 15,000 Natomaa (mining) $150,000. No Information was available as to Will Play for Elks Dance I ii 1 1 w Willi n n p- ' Cole MrElroy's popular orchestra nil) furnlMi ttie music for a ftppclal dance Wednesday evening at the Med ford Klks' lodge. The orchestra ts stopping In Med ford en route to Portland after a month's tour of California. tho recipient of thews huge gifts as thla ts not roqulred by the securities and exchange commibslon. Presum ably, however, a large part' of It un doubtedly went to families of the givers. PASADENA. 01., Oct. 1. (AP) Upton Sinclair, defeated Democratic nominee for the governorship of Cali fornia, today announced he had sent a telegram of welcome to President Roosevelt, In which he sn!d: "Mass production by you and for tho unem ployed offers the only escape from state aqd national bankruptcy." Lumber Orders Show Increase WASHINGTON, Oct.. 1. (AP) The National Lumber Manufacturers' association reported today that lum ber orders booked during the week ended September 21 were six per cent above the preceding week and the heaviest since April. Shipment were slightly above those of the previous week, the report said, but five per cent below production, while new business was six per cent under output. STYLISH BOTTLES IE Frosted And Sprayed Cov erings, Trade Mark De signs, Beveled Backs, Stream --. Lining Wanted. By Paul r. Ellis Unll Press Btaff Correspondent PHILADELPHIA (UP) The de mand for style and smartness has swept Into the bottle making busi ness, according to James Maloney, president of the Olaas Blowers asso ciation of the United States and Can ada. And tho old-fashioned half pint flasks which were sold over the bars are gone forever. They died when pro hibition was born but now since the resurrection of beer and other alco holic drinks, the distillers are de manding and getting what Maloney described as the very latest In glass containers, such as frosted and spray ed coverings, trade mark designs, beveled backs, screw tops, and other stream-line effects. More Skill Required It all meant considerable more skill in the bottle blowers, but according to Maloney, the 16,000 workers In the industry responded to the occasion and today, whisky, wines, cordials, gins and other forms of alcoholic drinks an appearing In bottles, dress-ed-up to meet the 1836 demand. The old brandy $ and 6 containers still are a popular size and shape, and of course, little change has been made In beer bottles, Maloney said, but he added that there were excep tions. The demand for the new styles and beauty In liquor bottles was brought on by the race of distillers to re-establish their markets after the 13 years of prohibition. Maloney be lieves. Maloney's office In Philadelphia, which is national headquarters for -the glass blowers' organization, is a busy place these days. The rush began soon after the 18th Amendment was repealed, he said. That brought bot tle makers back to their Jobs by the hundreds and a new Interest was tak en by the workers in their organiza tion. Keg Shipments Opposed "Our organization faces a bright future," Maloney predicted. "More workers are returning to their Jobs In the glass plants throughout the country, and we feel very much en couraged." Maloney revealed that the glass blowers' union Is cooperating with the employers for legislation which would continue the present federal ban against shipments of liquor by barrels or kegs, and the restriction that all whiskies must be bottled at the dis tilleries. He pointed out that In ad dition to helping the bottle-manu facturing business. It would play a big part In the campaign to eradicate the bootlegger and Insure a better quality of alcoholic liquors. Phone 643. We'll naul away your refuse. City Sanitary Service. MAIL TRIBUNE POSITIVELY CLOSE itV a jJ5ssiy8 tf Ik TRIBUNE OFFICE OPEN UNTIL For the Convenience Of Last Minute BARGAIN DAY Subscribers e$3i&3s. .J CJk J hU ill Hi Wednesday Will. Be Too Lnte Suhsevihe 1 Shoes for Women and Children Wednesday Specials From Medford's Own Store Stamped Pillow Cases An unusual Wednesday special. Beautiful 42-inch stamped Pillow Cases in new patterns and cut work designs. These lovely cases are all finished ready for you to embroider. Regular 98c pair Wednesday Special 75 Children's Dresses Another sensational value for our Wednesday cus tomers. ' Children's good quality fast color Print Wash Frocks in sizes 3 to 16 and selling regular up to $1.25. On sale Wednesday at Mann's. Wednesday f JJ Special 54-inch Wool Crepe For Fall and Winter Frocks we suggest a dress from one of these good looking pieces of 54 inch Wool Crepe. Colors are navy, green, brown, wine and of course black. Your choice for tomorrow only Wednesday Special $149 yd. Women's Hand Made NAINSOOK GOWNS The Best Gown Value In Months. Women's and Misses' Hand Made and Hand Embroidered Nainsook Night Clowns in dainty shade of tea rose, flesh and white. These come In sleeve less and short sleeve sty lea, each with a pleasing bit of applique or hand embroidery. Regular 91.00 value Wednesday Special 75 c ca. Wednesday Specials From the Second Floor! o "Dotty Lee" Frocks Of Washable Crepes The minute you see these new "Dotty Lee" Wash able Crepe Frocks you'll want at lea'st two! Ador able styles in various Autumn shades, and only $2. The sizes are up to 42 and they sell regular for $2.95. Wednesday Special $2op Long Sleeve WASH DRESSES These new long sleeve "Happy Home" Wash Frocks in good looking fast color Prints, etc., are indeed the ideal house dress for these cool Autumn mornings. Ask to see them tomor row. You'll want one or two. All sizes. Wed. Special $1. Newest Brushed Wool Sweaters For school, for street, for sports and other outdoor activities these new Brushed Wool Sweaters for Women and Misses are ideal. They are in good colors and sell regular for $2.50. ' Your choice Wed. Special $2.
