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About The Banner-herald. (Athens, Ga.) 1923-1933 | View Entire Issue (May 29, 1933)
;ONDAV- MAY 28, 1933 AY, MAY ol Soe FRATEASR | FOR CLASSIFIED ADVERTISING Dli"’; Rate Per Wer.d'For t Consecutive Insertions ‘ one Day, per word . ... fi | ‘Hlnim‘lm Cfilll'fl‘----vv--o- 1.00 I I three ‘{‘wrt,‘or“t for 1:.... .be | O AI'\'E'.I{'ILSL&MEN will ‘ i ror less than 40c. Ad lalfi"lfl'“,_,.,t ordered for ir. | e e rate, Name .and ad. ' | oo® ust be counted in the ?';V’ of the advertisement. ) :,\\ SnROR 18 made, The ! ’Ban"""‘H"mm {8 responsible i gor only the incorrect inser son. The customer 14 respon- ‘ | ginle for subkequent Inser. {fons. The advertiser should l pot:fy immediately It any cor rection 18 n_eeded. / ! L discontinuances must be pade in person at THE BAN- l NER-HIERALD OFFICHE or | by letter. Phone discontinu- ! “émce are NOT wvalid. : I {:‘LL WANT ADS are payable Z2"WANT AD = w 75 | ;75 PHONE | - FOR SALE joR SALE — Sherwin-Willlams’ paints are cheaper, because they go farther, last longer, and. look petter than ordinary paint. 'Christj;]n Hardware,- Broad | Street, Phone 1300. oy e fOR SALE—Galvanized 5V Crlmp] . Roofing is fire-proof, reduces in surance rates, and lasts a life l time; easy and quickly applied.l Roll Roofing, Asphalt Shingles t and Roof Cement Paint. Chrii--‘ . tian Hardware. : e T oNY FOR SALE CHEAP—Good I' saddle pony; all white. A l:eal | pargain. A. E. Davison. m3lp e BOLL, WEEVIL—We have molas | se, 25c s'ngle gallon, 5 gallons 3“51.00: 17c by the barrel. Poison Filec Ib. in small lots. $5.75 per | drum. Athens Seed Co. m2b¢ JOR SALE—Dahlia flowered zin © pia plants of the very best Cali . fornia strain in colors that pend. Now is the time to - transplant. 25 cents per dozen. ~ Mrs. M. P. Broughton, 280 Che | rokee avenue. m2Bp BARGAIN BUILDING LOTS—One | Jot, Hampton Court, $600; 2 lots, | Nicholson Street, $450 each; 4 Jots, Nicholson Street, $3756 eachs § lots Nicholson Street, $275 each: 5 lots facing Ag. College, S2OO each. Biggest bargains in Athens. A. E. Davison. milp FOR SALE — Dalsy echrysanthe mum plants, calendula and dwarf agratum plants to border Dbeds and walks, Mrs. M. P. Brough ton, 280 Cherokee avenue. m2Bp FOR SALE-—Shetland pony, very gentle. Phone George Hulme, 1612, m2img FOR SALE—Giant and miniature Zinnia plants (ten gorgeous col ors). Orange Tithoniag very cheap, Mrs. Mack Mewbourne, | 1113 8. Lumpkin Street, Phone v, m 29 | FOR RENT FOR RENT CHEAP—Dornblatt's ¢ Plumbing Shop, ‘Washington ‘I Street, across from Leathers’. L Apply to Mrs, J. Dornblatt, L Phone 161, m29¢ FOR RENT—For summer months. roms or apartment. 415 Ruth .iivll',',',i,,‘\‘”‘""" Phone 815. m2%¢ FOR RENT — Furnished apart ment, two rooms and private ' bath, on bus line.. 197 Boule \Vi“'ll, Phone 346-J. m3op FOR RENT — Five-room apart i ent, 740 Prince Avenue! six rom house, Haflcock Avenue, one block from Milledge Avenue. ill. Davison. m3lp \NIALE HELP WANTED 'I,” make a permanent connection that will yield good returns. E:- clusive proposition, Must have ‘{fUtomobile and small amount of “pital, - State qualifications, | "lerences, phone number in first Ir‘iA.'.l!'va. for appointment with 4 representative. Bobs Can -4y & Pecan Company, Albany, Ga. 5 .. 3 m2ie %\ __ WANTED ‘Spe?fi:':“ -~ P‘zlstsénger to share hh;n]"'\- Driving to I.3i_rm‘ing n'm].fi -A\l“M.h‘ Shoals; - Tuesday ng. 290 Milledge Circle, %l 1264, : i _mgap o #ATIED TO BUY used bieyele [ o 0. Terms. Phome 1900, 524 b Mas Street, m29c . & R : Large Size Listerine 89¢ | _:Medmm Size 47¢ ' 5 o%hfi"\fiv 67 or gßk v -WINN uG . Co.hm 3 Boxes Regular 25¢ Size KOTEX NOW 59¢ REID DRUG CO. MILLEDGE PHARMACY FREE YOUTHIFYING ey SSUE CREAM “th $1 Jap of Helen Rubenstein F‘xa',t--\mzing Face Cream PHONE 1066 UTiZENng PHARMACY - i South Carolina Planning To Entertain Motorcade | Opening U. S. Route 29 (Continued From Page One) ! e b i I.\"{] stop along the route aiter leaving Atlanta. Arrangements are belné completed by a ccmmittee headed by Luther Nelson of the Georgian ' hotel to give the visitors a spien- | did welcome during ther stay in, the eity. { “Present plans call for the 1)'11'9‘)" to park along the man street, which \‘Vi” be cleared for the mo- | torcade, ‘and then they will tiat served hot coffee and sandwiches o' lemonade before getting under way again,” Mr. Nelson said. - At Danielsville, a few miles from Athens, the party.-wili be joined by several cars from that feity which will make the trip intol ’Spurtunbux‘g. D. Wi Moselay, lprominont mérchant of that city, 'is making plans to welcome the party as they come through. Surprise Welcome I Royston, the former home of Ty lCobb, the Georgia Peach, is ar |ranging a surprise welcome for | the motorcade, according to C C. Fain, who is in charge of plans for that city. Hartwell, center of the universe and the only county in the world named for a.woman, plans to give the party such a good time that they will want to stay, Louie Mor ris, editor of the Hartwell Sun jand a member of the board of di rectors for the motorcade, said in ’urging the motorcade to stop there. . At Anderson the first major stop of the trek will be made, when the entire party will be guests of the city and the Chamber of Com merce at a barbecue to be given in good old-fashioned style at a park ' along the highway. l As the party ecrosses Alford's bridge over the Savannah river, a large party of Anderson and South Carolina people will wel come the visitors from Georgia %and escort them into the city. A lsquad of state motorcycle officers wili join the caravan at that point and take them on into Spar tanburg. A day of festivity is being plan ned by the people of Anderson, fls‘ the motorcade arrives .in the‘f | “Electric City.” 1 , “We are going to make Friday, }June 16, a big day in Anderson, !and we are going to give The At | lanta. Journal motorecade a wel |come they will never forget,” J. LA. Mitchell, secretary of the | Chamber of Commerce said, in | outlining Anderson’s plans for the l(my. f To Stop At Greenville i After leaving Anderson the cara ‘van will travel .te Greenville, where a short stop™will be made. Plans for the entertainment of the party in the city have not been completed, but Mel Glenn, secre {tary of the Chamber of Commerce, |said Saturday that his committee ;wns working hard and hoped to lhave definite arrangements to an | nounce within the next few days. | The next stop, and last, will be "Spartnnburg, where the entire party will be the guests of the Icity during their stay. Spartanburg, one of the most ibeautitul and thriving cities in the I‘Piedmont section, is waiting anx ;ious]y to greet the motorcade and {to show the party a “royal good [time.” t ‘ The entry lists for the motor lca(lo will be opened on Thursday, lJune 1, and will be closed as soon i‘fls 50 cars have been registered or |whpLl 150 Jersons have signed for itho party. All persons who are { planning on joining the motor }cnde are urged to get their entries lin as soon as possible, otherwise |many persons will be disappointed {'when they find that the entry list { has been filled and -closed. ] It will be impossible to take ;-any more members on the trip iafter that number has been reach -19«1. es o e ANNUAL MEETING | | The Annual Meeting of policy holders of the Southern Mutual tlnsurance Company will be held in 'the office of the company in Ath lens, Ga., on Tuesday, June 6th, 1933 at 11 o’clock -a, m. ] ANDREW C. ERWIN, Jse. Secretary. | FREE With Every Valve Grinding Job We Will Wash Your Car Free. | PORTERFIELD'S GARAGE | Phone 1871—150 E. Washington St. l, - WIND DAMAGE | PROTECTION | COSTS VERY LITTLE JESTER . Madam Sadie 3 & 2 i Palmist and Advisor S » s ! She ' tells you anything and every: | thing you wish to know without ask ing any questions, No matter who or lwhat you are or what your hope fear or,' trouble is ask her advice, She will help you, Give advice on busines matters lawsuits invest ments wills, deeds or lost and stolen articles and hidden treasures, If you. are unhappy, discouraged, ir trouble or in bad health ca,lll l:l.nd : il hel ou, Tells how ?;egl:;;. Eg;p‘i’:;lqsh w!x)t}f the ohe You jove. Tells you now to have success 'in. business, love, marriage, divoree. 'lnwmfits and speculations of all kinds, Private waiting rooms for colored, Hours 9 a. m. to 9. p_m. Readings daily and Sunday, Per. manently located at 257 West Dough .ty Street, Athens, Ga, Look for sign —Advertisement, North’s V/heat Port R W ' rth's ‘ 5 ] orth’s V/heat Port Ready for Busy 15 Weeks ———————————————— et AR At e e et e { S R 5 : o 0005 X : ¥ : SRR st W 2 SRS LA A e e es R [ fifafifi’%’m><\»“’“*“ra S e e Pl R s o | g '-:'i»:?1515‘-151~:E?5rEf:'E:E!EI:'f511325:55553':‘(&“&"’{3?\3@?9::- Re S S T R | S ::5'5::»:-5‘2:?:5:5:3:;:5:::;:;:;5;5:55;‘5?,%3:-3:‘;:5:522:‘;:3:5:;:1:};.-,::::;&:;:;:_..,;;:.;;; G e RTSR e eR R R { RR R RPR R ReLe Re e :i;ss;fi;" RR g | By A L B Sieß Be e BT S AL O 0 3 S Ao o ss IR .& I R e S S .;**E:;:;:;:-:::::r::-5:;?.;::;;:..:-:;:::.;;:-;::-a:xa;:-:;g;:;:;:::;:-.:;5: eSR e eoo OO ASR | SR R A RAR BT 1 SR A A A SSR SR AU NSO SORey A y v S Catam o i, T ek P e 3 ee T W’%@‘M"o“’:?‘&“‘ SRR R L eTR ) S S S RSty ee T S e R Y L O § Te e B e R e B “ e R || B mmesEeEae e R e, 80l eR, TTRSO) 1 e N L g meiaes s ol SRR T T T s B ! B R e R e *’.&wm:- B-RS AR s | SR e SR R S R R R R Beonaadion . SRR T R R i Soa e e e dEoe 3 RS R G ;i L S e e | o) —-— L { O g b‘ 2 TY A TSR BBV SRS MTRN CTSHIN T RRSTA RS LT RAS, _ - . . | / R A LR SR : | ” . S L A R S SR RTR R : | ¢e . N S : SRS e { g | ! v-/ SESEEe e i eBB i \}/ oN T R Saade ST e B2v ks % 4 R '-""-E:-":"’~';W- sSRSt oo g | e i 7ot e i R S 5 i :& 3 & gmedakeciogs I \ 5 i «msw;t»m% S R i et - \dwINNIPEG poRTARTHU " ey | ' P G 3 e s e ; . i DULUTH FORONTO -« b. - S | u.o. /] 6 s B e Rey | ; RS R MIR e 2 A W VST U AT NT TR ASR The farthest north port on the continent, Churchill, on the western coast of Hudson Bay, is pre paring for the opening of ocean-bound traflic about July 1. The picture above shows the city, | built_ to provide a shorter and cheaper route for shipping prairie \\'ln":\t to Europe. Below .is ‘ Churchill’s new 2,000,000-bushel grain elevatér. Churchill is 350.”11‘.“:4 north of Lake Superior, and nearer the North Pole than Sitka, Alaska. In June the sun is down only four hours and l night is mercly twilight. Shipping is possible during 15 w-cks of the year. ' A FREE RIDE OMNIBUS COLUMN . FREERIDE :bast Hack Driver... . . - Here Is Dead iR B “Phé ‘last ‘man 4> d¥ive a “hack” in Atlens it lJead C(larence Mar shal, veteran Negro porter at the Georgian hotel and the last man to abandon the horse-drawn “taxi cabs”, died Iriday Miss Elizabeth Laboon Graduates From Emory g Miss Elizabeth ILaboon, daughter of Mr. and M®. L. L. Laboon of Athens, will graduate from Emory university June 12 with a bache lor of arts in library science de gree. Miss Laboon graduated from the University of Georgia last June. She is a graduate of Lucy Cobb institute and the Athens High school. Harry Talmadge, son of Mr. and Mrs. Julius Talmadge. will graduate at the 'same time with a ‘doctor of medicine degree, He graduated from the University of Georgia in 1928, and has attend ed Harvard university and the University of North Carolina. He is a graduate of the Athens High school. v Mitchell.Callaway Case Continues The case of A. L. Mitchell, who is suing Mrs. Eva D. Callaway, defendant, - and H. 8. Callaway, claimant, for property occupied the ‘time of City court Monday merning. The case was begun Saturday afternoon. -Negro Arrested on Theit Charge = John Gould, Afhens Negro, was I"arrested at Carlton, Ga. Monday and placed in the . Clarke county jail on echarges of stealing some tools from Garnet Doster’'s wood shop on the Mitchell’'s bridge road recently. The tools have been re covered by ecity policemen. Store Robbed Near Athens Saturday About §7. worth ‘eof grocenies were stolen from the Adams store on the Danielsville road, one mile north of Athens, Saturday night. County officers are -investigating !the rebbery. IWho’s the Smartest? Teacher, of Course A first grad> child was asked by a woman tne other day: “Whe is the smartest one on your class?” i “You ought to know that”, .the No Question How He Voted! . sk et . 2 BSy ' - A, e SR S RS \’3‘\*\2\‘3 T e YR R R G R s P T USSR SR ee R B S T TR R R R s R R IR R R B R I L, SEEES RSN RN B S RRO GFPRN R A gc SRR g 3 'J:i:’?%:.\':t-:-:'\s'\:':-:<:.::Eéé?-:::i:::::!:i:iétlg R R ERAIE RR SR B R SR R R S 5 > RR S T \E\s’?&‘}?\é%\i{\*‘ & 2 & CRRERER e i B R e s R e e 25"':':':'"5:5‘:'::::‘\‘:"?::::;‘::@:“.::::’:::’:::'3:5:?’:’ R o i i 3 R R NRO N e B R "\'\‘&sfiée?.i::::z:::a:;;:5:e:s:-ki:a:s:f:;z:s:s:s:a RN TR RS R RN ; R L R Ry i e e e BR S Y Bl SR 2 PRo B A 3 R T O . o 4'\‘32'-3?}331:‘-3333:‘52 : s sERe R B T e PR R R R R % % By S ey TR N A R s o e s R P TR R R e SRR R N T R R R R R e A BR SR SR e ’e“} g 8 s R B *ng"'?' ERRRRG e S Sonmaai B DR S L B S . 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NAy S o ey & A AR e R s g RRST SR e R 5 B%‘f SR R e 3 o B g : ? SSR S SR s oL Y eR R R ‘, X g - A Be O B oA S oo SO PR P o D A SO R G & Gosg G R e R o N AR R e > o v ¥ e e e e SRR e T T R s e NN 8 ; S R R R SRR N gßt B e o R R A R ot R - RSD A s SR el o e i L BRSSO R AL gy g \53 e e 3 For fourteen long years Al 'Smith had waited for this chance and is he enjoying it! Here’s New York's famous ex-governor smiling broadly as he registered before casting his ballot for prohibition re peai as New York state wets swampea the drys 10 to &. Mrs. Smith stapds behind him; Mrs, Ruth Erde, election official, beside him THE BANNER-HERALD, ATHENS, GEORGIA little girl replied. | “You expect.me to say that you {are, but I know that isn't so,” said | the woman, | 4iGiree Yo not, teagher ‘s the lsmartest,” was the comeback. Robbers Enter . Business Firms Three Athens business firms were entered here Sunday night by robbers—and nothing was stolen, city police reported Monday. The | Webb-Crawford wholesale grocery icompany and Talmadge Brothers wholesale grocery company were entered. Police found a key which Iwas used to open the doors, It Iwas apparently a small boy who entered Frank Edward’'s office in Ithe Mallison Braided Cord mill Ihendquartom on Washington street. {Police found: a small barefoot ill‘nck where the office was enter ed. All three places could dis lcover nothing missing. | City police had one of their light 'woek—ends in months, with only {five cases being made. Two pers sons were arrested on charges of being drunk and disorderly; one for being drunk; one for running a dive, and one person was given a [ticket for driving a car with one | headlight. g - 3 sl Contagious Diseases Reported Here Two cases of chicken pox, one vincent's angina, 1 tuberenlosis, ‘and 1 whooping cough were re lported by the hegflth department during the past week. ‘ Sunday School Attendance On Incriease Here I The largest increase in Sunday school attendance here yesterday ‘WZIS made by the First Christian I'church, where 254 persons were ‘present; The Sunday schools re ported the following attendances: iFirst Methodist, 646; 70 women and 91 men; First Baptist, 608; 94 women and 94 men; Princeé Avenue Baptist, 510; 54 women and 112 men; Central Presbyterian, 144; Z 8 women and 26 men; First !(*hristirm. 254; 37 women and 44 men: Central Presbyterian, 144; 28 women and 26 men; West End Baptist, 150, ! A meeting of the Athens Young { Business Men’s club will be held ’Tunsdny night at 7:30 o’clock in {the ¥, M. C, A, You can remove scorch stains from white goods by rubbing the spot with a cut onioh and then placing the garment in the sun. S-. p &,/s o\ ; g : vr“ "!l‘ et o A SRR R s R RGBT i RS IR eTR | s ’ Y ; R\ ) 0 | lour A (our 4;-‘; u VT LU e \.‘ TS . m H g 4l LWL N AR m |4 5 b ’ ":‘.,;a\l ;’J e \\,__ 7 pfl‘fifi“ ’ 4 &il Any One Magazine .“rc@ g itouse, g (conett 'l Any Two Magazines In This Grou D ol A 1 -f,?;‘gév‘: *v_ g = P :I 0&? _;\\ e P “T—“ Y @»I | In This Group Group No. 1 W ifi%"‘fl =z e 8 i SC N Ry A : 2 Group No. 2 o } \Q’A |\ - N ~ 4 P : ¥ AMERICAN MAGAZINE ’ HERE " ouk orrER ‘ WOMAN'S HOME ' COMPANION ‘ : REDBOOK MAGAZINE ’BTe SL ST SW T PAT ‘ PICTORIAL REVIEW n DELINEATOR ) H L 4 , PRV, LT L ONE WAGAZINE IN All FOBRR T D eAton o MODERN MECHANIX & ) y SCREEN BOOK TWO MAGAZINES IN B INVENTIONS ’ GROUP NO. 2 WOMAN’'S WORLD : COLLIER'S (WEEKLY) |} AND THE ATHENS ‘ PATHFINDER 4 BANNER-HERALD i el OPEN ROAD 3 . . TTER HOMES & ’ Daily and Sunday. 1 Year (As H ‘ BE o il at Reg. Subscription Rate QC&::SESEAY }| ano vour cHoice oF [ PAYMENT » : p AND YOUR CHOICE OF g . > 1 2 i i GROUP NO. 1 . il ’ Both old and new subscribers are privileged to take 1 advantage of this remarkable offer by enclosing one 4 l 1- : ‘H@E& ,“ 4&‘ ’ ‘..';lvlar ($1.00) with the coupon below and mailing it ‘”‘E‘ '“ 4‘ g ’ to the Circulation Department of the ATHENS ‘ & A 5 ‘ 'y .5 ! 3 BANNER-HERALD, Athens, Ga. |lf you prefer, = ! ."t{)::“ '_‘;: . simply Phone No. 75, ask for the Circulation De- m_—_—_——‘ ‘f‘)",,“fl"h’f’ ‘ ; 5 S . partment and your regular carrier e BT GSRSTTS SNS SRS N J.‘lk‘*”° “‘l’“ ""“ ““" |II|" ‘IL-.LLL'-! boy will call for your order. _——____-———____—-—————— ; JQ%?" & YILLLCATRERCAY "E-; e ‘ S , e = Le S % N o e i 5 vv ‘;',y_..‘:_j,‘.;‘;:‘: £ 4 pre— . 1 W L ST, N “ - : S P wd B 5 i = N H A ] This arrangement S _ = is made possible =l I THIS UNUSUAL OFFER o‘= ; by a §on’fract di- et . 4 . : ; BEL——] rcct with the publisner's own E=f o 8 Makes it possbile for a subscriber to get a Mag- B 2 e representative, ancll we‘bguar‘a'nll :-"'—'.. u ' i LL}' tee that every subscriber wi — . A . QER—] cccive the full subscription [—H W a%ine to suit each member of the family, and a 8 5 time to the three magazines se- — S . i . & BRI |cctec. REMEMBER, during =% = Daily Paper carrying full Associated Press Service # ; -—-‘== this bus §3 it sometimes — L WA .. four to six weeks for the [l = and Special Features and Local and Store News = R first magazine to reach you. e E Siepahag e =3 g 3t Very Low Cost. = it & o ; Bt ¢ 2 ‘"i.‘,, — . - T TR T B ' : a A Ll L o direscenacxssrrsnsNEiSmEnnan : * S o bRI e . SUBSCRIPTION CONTRAC Your Choice of An ooy ] SIBGETONCONRAC (R AZINE | IS T s GROUP NO. - | GROUP StRARE 08 i Aieih i iiiaie i, IR --—~-———~—————9—~E—-——=—; ey ey THE ATHENS BANNER-HERALD, ( ) cwoman’.s Hom. ’ i irculatio partn ompanlon ; ‘ GROUP NO. 1 :u ' “G" S ( ) Pictorial Review ey m ( ) Delineator : " ( ) American Ma.gazine g : ; ;flCCCa"’;MM:gazfiQ «4 s reen : Gyad v . 1 hereb r u ri o (or ex res b ) Redb.OOk Magaz"‘e scriptiZ:e) ):O.QT:IGEt:\"l:HbEscNSbeBtAleflERe-Htg:Aanl; ?o: eantp:rl;od ) welmm’s Wol‘ld . <) Phys|c3| Culture o:‘ oa;edyenr f':om this date, and also for the 3 magazines | have ( ) Path Fil‘ldfl ! . ecke thi f hich | i 1.00 d ) Modern .MeCha'“x :gree to o|:lnay y:uio‘r"z;:h:ra:enltc 13 cae':tsp:);rn%v:ek. Ict“i'; ::- ( ) opfl‘ R“‘ ‘" m & Inventions derstood that this contract cannot be cancelled without imme- () Better Homes M |( ) COI“CI”S (wec‘dy) diate discontinuance of the magazine subscription. Ga’rdcns ?‘; j ‘ NOTE: 4to 6 weeks are required for first magazine to reach you. i) SCI‘GGI‘I Pljy i :"; £ 8L i i i % ~ ~ T Y T N SRR £ i o s g e eST Pk s’m‘o TS N sN6 eIR RNRN S SIS BE RN S ok N% e eiE N e N R e ‘J?cv : -4 . G i e aia 7 b 4 gl oo T S g ST, TR A T T 2 “SOAK THE RICH” - MOVE IS REVIVED . BY MORGAN CASE’ | «Continged ¥rem Page One) ' {taxes on gross income tax only fort | the cosy of geods., Tax rates mighti ibe lowered if deductions were| ' eliminated. | The first m:nor step in that di irection was the decigion of a ' house sub-committee that losses !in the value of securitics and sim |ilar property should be limited Ini tax returns to the vear in which]| [they occur, instead of being |chatged off against income in thel E.v(’llr following, as has béen per mitted since 1932, or for the nextl itwo years as was permitted prior |to the 1932. tax aet. This ('-hzmgo‘ (probably would save the Treas iury about one-third of the (!(!duo—} (tions for losses and would be es rpecially valuable in case of an iearly "pickup in business, since :p:nrrs of 1932 and 1933 losses would jotherwise be charged up against ‘new gains in 1933 and 1934. li Partnerships are being studied tagain from the income tax stand | point since details of the Morgan | operations have been exposed. It ;:mpmm that the losses claimed by fthe Morgan partnership did not | necessarily have any connection fwith the original cost of the se lour;ties affected. “Every time the {tirm took in a new partner it fnrm-‘ led a new partnership and using the existing value of its securities ;as the basis for that partnership. It didn’t have to pay any tax on in creased value unless the securities were sold. Of course it had to |dump many securities after the crash, but it was able to show losses as from the date of crea- . | 'New Treasury Aid e B 4 iy N e s o EE X o e |1 o SR | EEaa. Seswi SN N | B\‘. " “(§ A R , ARy 5 ;,‘-".3‘:;::_."_.":::;;_.;:;&33_:5‘;3;._(, ?::.:,:~.. . | R o I ey W I R B ‘ i || B R SEEE |R e R T aR e BESRL B EEe £33 R PR T e B | B RAR AR \:E': LR SR o FERPS RN AR B Bl e O i Wt:*’ ‘;:‘4 i 'l’“‘ S 0 L Do Bl e e | §% N R OTUSEe 1 e % o ; 1 e —————— A . | | Dr. O. W. Sprague, new executive | assistant to Secretary of the | Treasury Woodin, is seen here at | his desk in the Treasury Depart | ment juct a*er taking the oath of | oftice. Dr. Sprague, former Har | vard professor, has been economic i‘ adviser to the Bank of England. e }tion of the last partnership rather "lh.'-{n from the time =of original ' purchase, A stock purchased for 'sl in 1922 might have a markef value of SSO in 1929 and a value of $25 in 1930, but a new parteze- | ship would merely be mquiqfiz;gg;z : register a $25 loss. 3 ' i “Soak The Rich” = Government bonds and billions of doliars in other tax-exempt securi= ties continue to be a favorite |3" get for the *“soak the rich” ’ but. these have been held exempt from tax largely because ‘:( special status enables the gov :M ment to borrow money s smueh more cheaply. than it otherwise could. L Simplification of the %ax law . is also being strongly unged b, \\ those who feel that the e asury has lost' hundreds of millions through the efforts of high-priced lawyers and tax experts w.xf ,;p‘% able to find loopholes in t ;'T;‘;; ent structure, The capital , and losses section of the '55" law has been called them m;tmm;n plicated tax law in the hisjory of the world. ' gt ol The present 12 1-2 per cént tax = on large capital gains is alse : ing much eriticism and there those who urge that capitdl gaing —as the government déscribes profits on securities sold after they = have bheen held two ‘ charged at the same rate "*,?:3;(' incomes, A There 1s a real pdsaibl(g‘f?}_;l the entire capital gains and loss es section will be knocked ‘out of the law. LM Meanwhile the Trorgan , ures have aldo led Sen efi‘;:? gressives to demand a resumption of publicity for income tax ' &;‘f* as a means of discoura; g:f 3 sons and have caused s fiw‘ advocates to renew their .clamor with the contention that w"‘f come tax has proved unsatisfactory as a chief source of revenue. PAGE SEVEN
