anaheim-gazette 1920-10-07

REDUCTION OF TAXES UNLIKELY AT PRESENT No Relief Expected Until New President Is In Power. It is now a practical certainty that there will be no reduction of Federal taxes on business for the calendar year of 1920, payable next year, until after the inauguration of a new President. Any changes in the law then effected will apply to the calendar year 1921. Although agitation for repeal of the excess profits tax is increasing in volume, leaders of both parties agree that there is little probability of any action in this direction or in the direction of any other fundamental revision of the revenue laws at the short session of Congress which meets in December. While the administration and a majority of the Republicans are in favor of repealing the excess profits tax the Democrats and Republicans are at variance on proposed substitutes and moreover, the Republicans are insistent upon revising the tariff upward for protective as well as revenue purposes if any revision is attempted. For these reasons any bill embodying fundamental amendments which might be passed at the short session would likely be vetoed by President Wilson. Moreover, with the appropriation bills to be disposed of, there would not be sufficient time during the short session to frame and pass any far-reaching revision. Senator Harding intends, if elected, to convene a special session of Congress, probably in April, 1921, to enact a protective tariff and revise direct taxes downward. This will involve undertaking should await the inauguration of a new President. The annual report of Secretary of the Treasury Houston, which is now being prepared for submission to Congress early in December, will contain recommendations relative to changes in the revenue law. He is expected especially to urge immediate action on the bill now pending before the Senate, which makes administrative changes in the law. The treasury has been opposed to the excess profits tax and the annual report undoubtedly will renew the recommendation for its repeal or modification. LIBERTY BOND HOLDERS ARE LOSING MONEY Delay In Converting 4 Per Cents Is Responsible. Liberty Bond investors of the Twelfth Federal Reserve District holding approximately $67,000,000 worth of 4 per cent Temporary Bonds are suffering an approximate annual loss of $167,000 because they have not presented the Temporary Bonds for conversion into 4-1-4 Permanent Bonds, Governor John U. Calkins, of the Federal Reserve Bank of San Francisco, estimated. Every effort, Coverer Calkine pointed out, has been made to inform investors of their interest in the matter. Local banks throughout the Twelfth Federal Reserve District, who handle the exchange operations for individual investors free of charge, have spent thousands of dollars in advertising to spur their clients to exchange their Temporary Bonds for Permanent Bonds carrying a higher rate of interest. Despite their efforts and the fact that the Secretary of the Treasury The resignation Constable for Plan accepted, to take 1920. Bill of J. L. Grisel approved. Warrant No. 3 Corrugated Culvert County Good Roofed, same being. No bids being 000 issue of 6 per Newport Beach matter was continued at 11:00 A.M. The chairman approve Bond on 133. The franchise Petroleum Midwife ordered advertise notice of same billed to the board 1920, at 10:00 A.M. The chairman approve Bond on 136. Personal prop milk cow, and on the county of O sold at public auction October 5th., 1922. Supervisor Schrödinger pointed a committee tank and well at. The Commonwealth was ordered annexed Richfield Union. The election of for the General Tuesday, November COX-WILSON Scenting a breath and Cox forces, llicity Association Ident, Hon. Jon bodying fundamental amendments which might be passed at the short session would likely be vetoed by President Wilson. Moreover, with the appropriation bills to be disposed of, there would not be sufficient time during the short session to frame and pass any far-reaching revision. Senator Harding intends, if elected, to convene a special session of Congress, probably in April, 1921, to enact a protective tariff and revise direct taxes downward. This will involve consideration of repealing the excess profits tax and placing the revenue production on an entirely new basis. If Gov. Cox should be elected and the Democrats returned to the control of Congress revenue legislation undoubtedly would be postponed until the new body convened. In the event the Democrats should carry the Presidency, but lose Congress, both parties probably would rather legislate under Cox than under Wilson. Election of Harding and a Democratic Congress would put a crimp in Republican plans for revision of direct taxes downward and the tariff upward. Inasmuch as the final date for the making of returns on taxes on profits and incomes of the year 1920 will have passed before the special session of next spring convenes there is scarcely any possibility of action affecting the present year. The House was disposed to make some amendments to the revenue law at the session of last spring, but the Republican leaders in the Senate refused to agree to such a program, believing that revision of both revenue and tariff laws should be delayed until after the inauguration of the next President. Late in the last session the House passed a bill based on recommendations of the Treasury Department amending the revenue law to simplify its administration. Even this bill, which made no changes in rates, was held up in the Senate Finance Committee, where it is now pending. Some changes in the revenue law might be possible during the coming winter if the Republican organization in Congress had any well-defined program on the subject. While opposition to the excess profits tax developed considerable strength at the last session there were some Rpublicans as well as Democrats who continued to defend the tax. Failure of anyone to offer a substitute plan for raising revenue, which could meet with any general approval was the Local banks throughout the Twelfth Federal Reserve District, who handle the exchange operations for individual investors free of charge, have spent thousands of dollars in advertising to spur their clients to exchange their Temporary Bonds for Permanent Bonds carrying a higher rate of interest. Despite their efforts and the fact that the Secretary of the Treasury reserves the right to terminate the privilege of converting the 4 per cent bonds on six months' public notice, $67,000,000 worth of securities remain unexchanged in this district. Although the conversion privilege has not been withdrawn by the Secretary of the Treasury as yet, and six months' public notice of such withdrawal will be given before the privilege is terminated, to secure the benefit of 4 1-4 per cent from November 15, 1920, holders of 4 per cent Second Loan Bonds must present them to any bank for conversion in order that the bank may forward them to reach the Federal Reserve Bank in San Francisco or before November 14, 1920. Four per cent Second Loan Bonds received by the Federal Reserve Bank of San Francisco November 15, 1920, or on or before May 14, 1921, will be converted, but the increased rate of interest on quarter of one per cent will not become effective until May 15, 1921. To secure the benefit of 4 1-4 per cent from December 15, 1920, holders of 4 per cent First Loan Bonds must present them to a bank for conversion in order that the bank may forward them to reach the Federal Reserve Bank of San Francisco on or before December 14, 1920. Four per cent First Loan Bonds received by the Federal Reserve Bank of San Francisco December 15, 1920, or on or before June 14, 1921, will be converted, but the increased interest rate of one quarter of one per cent will not become effective until June 15, 1921. For Temporary 4 per cent bonds presented, Permanent, 4 1-4 per cent bonds will be delivered: BEET AVERAGE 10 TONS Records from the local sugar factories show that the average production of sugar beets in Orange county this year is about ten tons to the acre, which is a good average crop. In some sections more than this The Commonwealth was ordered annexed Richfield Union Tuesday, November COX-WILSON Scenting a breath and Cox forces, Illicity Association identify Hon. Jon issues the following: "Rumors are rife the Democrats are break between HC candidate Cox effort to save the date from the 'Wilsonism', which the saddle-weight desperation. It is Democrats that man of the sea", the political Sink himself of the W thing is to be salvage age of Democraties. "The first hindstupify and slip I can dictator is ment made by Hitchcock just Clinton for his work It will be recalled at the instigation retary Colby add Italian Ambasadera Avezzana, in which bid for the vote Poles by a victor government of time was threatened tion. This was Mr. Colby's sugar Polish delegation cratic ticket, paid United States helping Poland, could only be assoc eratic victory declared 'it is no government of the organizize the presen a government will common to frelbe maintained,' existing Russian violated 'every and good faith convention under structure of inter" Mr. Hitchcock advocated the Russia by the U indorsing the sta Some changes in the revenue law might be possible during the coming winter if the Republican organization in Congress had any well-defined program on the subject. While opposition to the excess profits tax developed considerable strength at the last session there were some Rpublicans as well as Democrats who continued to defend the tax. Failure of anyone to offer a substitute plan for raising revenue, which could meet with any general approval was the chief stumbling block in the way of its repeal. While the sales tax was advocated in some quarters sentiment on the proposition did not crystallize to the point where its adoption was made possible. Present prospects are that there can be no substantial decrease in the amount of revenue which must be derived from taxation for several years to come. This means that if the excess profits tax is to be repealed some other means must be figured out for obtaining the amount of money which would be thus lost. With taxes in all directions already high there seems no way to work out a solution unless some new scheme such as a sales tax be adopted. Revenue legislation so far as action at the winter session is concerned would be in charge of Senator Penrose of Pennsylvania, chairman of the Senate Finance Committee and Representative Fordney of Michigan, chairman of the House Ways and Means Committee. Both of these men are expected to continue to hold these chairmanships after March 4, next, unless the Republicans lose control. Representative Fordney was willing to go ahead with revision of both revenue and tariff laws in the last session, but Senator Penrose adhered to the policy that such a comprehensive BEET AVERAGE 10 TONS Records from the local sugar factories show that the average production of sugar beets in Orange county this year is about ten tons to the acre, which is a good average crop. In some sections more than this amount is produced, but in others a much lighter crop tends to keep the average lower. Labor conditions are good in the sugar factories and in the fields now and the sugar plants are running to capacity. High wages and shorter hours are said to be responsible for this condition. At the present time the payroll of the Holly Sugar company in the three plants which it controls in Orange county is $200,000 a month. The two larger factories, the Holly and Santa Ana, are now in about the middle of their campaign. The smaller Southern California Sugar company plant has nearly completed its season and will probably close about the middle of October. The Holly plant at Huntington Beach will not close until some time in November. The Santa Ana Sugar company plant at Dyer will close early in November. SUPERVISOR'S PROCEEDINGS A resolution fixing time for receiving proposals or bids for doing the work in the matter of Road District Improvement No. 5, resolution of intention No. 5, was passed by the Supervisors, Wednesday, October 19th, 1920, at 10:00 A.M., being the time fixed for receiving bids. ANAHEIM GAZETTE The resignation of Albert O. Nelson Constable for Placentia Township was accepted, to take effect, October 1st, 1920. Bill of J. L. Gray for $8.40 was disapproved. Warrant No. 3507 payable to Calif. Corrugated Culvert Co., out of the County Good Roads Fund, was cancelled, same being a duplicate. No bids being received for the $12,000 issue of 6 per cent bonds of the Newport Beach school district, the matter was continued to Oct. 5th, 1920 at 11:00 A.M. The chairman was authorized to approve Bond on Map of Tract No. 133. The franchise applied for by the Petroleum Midway Co., Ltd., was ordered advertised for sale and proper notice of same be prepared and submitted to the board, November 9th, 1920, at 10:00 A.M. The chairman was authorized to approve Bond on Map of Tract No. 136. Personal property, to-wit: one milk cow, and one calf, belonging to the county of Orange, was ordered sold at public auction, on Tuesday, October 5th, 1920 at 9:00 A.M. Supervisor Schumacher, was appointed a committee of one to fix the tank and well at the County Farm. The Commonwealth school district was ordered annexed to the Placentia-Richland Union School District. The election officers were appointed for the General election to be held Tuesday, November 2nd, 1920. COX-WILSON SPLIT PREDICTED Scenting a break between the Wilson and Cox forces, the Republican Publicity Association, through its President, Hon. Jonathan Bourne, Jr., physical condition for the task. The idea prevails that Cox will therefore demand that he be released from all commitments to Wilson and suffer to conduct his campaign as he sees fit. Thus the breach will be complete. Quite belated Mr. Cox has announced that he would countenance league reservations and he has exhibited all the arts of the 'trimmer' during the campaign. His change on the league is believed to be a forerunner of his repudiation of Wilson, but it will come too late to change public opinion already crystallized against him." COCOANUTS SUCCEED SUGAR Some of the conditions and possibilities of agriculture in the Virgin Islands, the most recently acquired possession of the United States, are discussed in a recent report of the insular experiment station at St. Croix, which is the first since this station, originally established by the Danish Government, passed under the control of the United States Department of Agriculture January 1, 1919, and was enlarged to cover the three islands, St. Croix, St. Thomas, and St. John. Sugar, rum—made from cane juice—cotton and cattle have been the most important products of St. Croix, which is the largest and best developed agriculturally of the islands. Approximately one-fourth of the area of St. Croix, something over 13,000 acres, is in cultivation, practically all of it in sugar cane, but, as pointed out in the report, if the price of sugar declines to any considerable extent or the present scarcity of efficient and dependable labor continues, the sugar planters may have to turn their attention to other crops. One of these which can be grown successfully on any of the sugar plantations is the coconut. The destructive animals look upon this knock as a particularly good boost, in view of the fact that this part of the country is considered especially infested with such enemies. It is an instance of the notable work being done by the bureau's corps of hunters and trappers in the important livestock ranges of the West, where mountain lions, bobcats, bears, wolves, and coyotes have been able to maintain their numbers practically undimished in spite of the best efforts of the settlers and ranchers. There are between 400 and 500 of these skilled hunters. Last year they captured about 32,000 predatory animals and killed at least that many more by poisoning operations. As an example of the destruction done by predatory animals: A Texas ranch owner declared that in less than three months he lost nearly 300 sheep worth $3,200, through depredations of six coyotes, which later were killed by Government hunters. HIGHER EDUCATION The colleges are turning 'em away. So great are the demands for a university training that the dormitories of our leading educational institutions have the compact appearance of a box of sardines. One of the big co-educational colleges of the Middle West had to turn back nearly a thousand girl students because it had no room for them. Neither are there professors enough to go around. The colleges and advanced schools here all seem to be filled and the freshmen class is about the biggest ever at each institution. Nobody knows exactly why. A college education is not as much of an advantage today as it was a generation ago and save them and ease their pain. Tak dren: hubbard years in war died. East-lar to less tornern his old life without dollar. Talk children bank husband goods store. Take children bank husband goods store. The Commonwealth school district was ordered annexed to the Placentia-Richfield Union School District. The election officers were appointed for the General election to be held Tuesday, November 2nd, 1920. COX-WILSON SPLIT PREDICTED Scenting a break between the Wilson and Cox forces, the Republican Publicity Association, through its President, Hon. Jonathan Bourne, Jr., issues the following: "Rumors are rife in Washington that the Democrats are about to stage a break between President Wilson and Candidate Cox in an eleventh-hour effort to save the Democratic candidate from the terrific handicap of 'Wilsonism', which like a thorn under the saddle-weight, is goading Cox to desperation. It is freely admitted by Democrats that Wilson is Cox's 'old man of the sea', and they believe that the political Sinbad of Ohio must rid himself of the Wilson incubus if anything is to be salvaged from the wreckage of Democratic hopes. "The first hint of an intention to stupify and slip from under the American dictator is found in the statement made by Senator Gilbert M. Hitchcock just before he left Washington for his western campaign tour. It will be recalled that on August 10th at the instigation of Mr. Wilson, Secretary Colby addressed a note to the Italian Ambasader to America, Signor Avezzana, in which he made a direct bid for the vote of the Americanized Poles by a vicious thrust at the 'Red' government of Russia, which at the time was threatening Poland with extinction. This was followed later by Mr. Colby's suggestion to a large Polish delegation to vote the Democratic ticket, provided they wanted the United States to go the limit in helping Poland, which, he intimated, could only be assured through a Democratic victory. Mr. Colby in his note declared 'it is not possible for the government of the United States to recognize the present rulers of Russia as a government with which the relations common to friendly government can be maintained,' and he charged the existing Russian regime with having violated 'every principle of honor and good faith and every usage and convention underlying the whole structure of international law.' "Mr. Hitchcock, in his statement, advocated the recognition of Soviet Russia by the United States, thereby indorsing the stand which Mr. Wilson..." The Community Property bill which passed the last Legislature and was signed by Governor Stephens on which we ask you to vote yes at the November election, will give the wife the right (which she does not now have) to will her half of the community property to her children. The right to will her half to anyone else—with the written consent of her husband. Will give the hhsband the right to will his half to anyone else—with the written consent of the wife. This community property bill will CHRISTIAN SCIENCE First Church of Christ, Scientist, corner of Philadelphia and Chartres streets. Sunday service at 11 a.m. Sunday school at 9:45 a.m. A meeting Wednesday at 7:45 p.m., at which testimonials of healing are given. Free reading room in the First National Bank building, rooms 304 and 305; open daily from 11:30 a.m. to 6 p.m., except Sundays and legal holidays, where the Bible and authorized Christian Science literature may be read, borrowed or purchased if desired. The public is cordially welcome. WANTS PREDATORY ANIMALS SPARED TO EXERCISE DOGS It's hard to please everybody. Even efficiency has its drawbacks. Now comes a complaint from a rancher at Antelope, Oreg., that the Government hunters in that section of the country are so effectively carrying on their warfare against predatory animals—coyotes, particularly—that he is put to it to find exercise for the dogs. Officials of the Bureau of Biological Survey, United States Department of Agriculture, who have charge of the work of making the ranges free from look upon this regularly good boost, that this part of considered especially enemies. It is an stable work being corps of hunters the important livene West, where cats, bears, wolves, been able to mainnish practically unof the best efforts branchers. on 400 and 500 of years. Last year they 1000 predatory anleast that many operations. As an instruction done by A Texas ranch, in less than three early 300 sheep high depredations of later were killed atters. EDUCATION turning 'em away, remands for a uninat the dormitories national institutions appearance of a box co-educational college West had to turn and girl students room for them professors enough advanced schools be filled and the about the biggest institution. Nobody y. A college educach of an advantage generation ago and save the wife just half of the attorney's and executor's fees in having the estate probated. If the husband dies without a will the entire Community Property will pass to the survivor. That you may understand more fully how unjust the present law is, take the following example: the mother of a three-year-old girl marries the second time a man with a girl the same age: The wife teaches school 15 years and the husband, with the money earned by the wife, buys and plants 80 acres of vineyard. This property is now worth $60,000. The wife becomes ill and learning that she cannot live, sends for her attorney to draw up a will, giving her daughter a share of this community property, and learns for the first time that she has no interest in the community property, and cannot will any part of it to her child. She dies and the entire estate automatically passes to her husband. The following week he is killed in an automobile accident and his daughter inherits the entire $60,000 and the wife's daughter is left without a penny. Take a case where there are no children: A wife who had an invalid husband, took care of him for twenty years and made the living by taking in washing. When the husband finally died, the wife wrote his brother in the East—who had not contributed a dollar to his support—of his death. In less than two weeks' time the Eastern brother arrived and took his share of his brother's half of the property, although the wife had earned every dollar. Take the case where there are two children: A woman has $1000.00 in a bank when she marries. She and her husband use this money to start a dry goods business; they both clerk in the store. They have two daughters; when giving her share in the business to the girls. She is told that she cannot do so, that it is all community property. The father continues the business after her death and builds up same. The girls cherish the mother's memory, and re­sent his attention to any other woman; hard feelings arise. At 18 and 20 years of age the girls leave home and work their way through college. The father marries a young woman and remodels the old home for his young bride; the girls earn their living by teaching school; the father dies, leaving all of his interests, which is now a large wholesale concern, to the second wife. BULLYING WEAK NATIONS Mr. Cox says article X would protect weak nation from "the bullying attacks of stronger nations." What weak nations from what stronger nations? Korea from Japan? Syria from France? Smyrna from Greece? Egypt from Great Britain? Albania from Italy or Serbia? Lithuania from Poland? German Austria from Italy or a Slavic alliance? But article X has been ratified by all the great powers admitted to the council of the league and by some thirty-five others. Why is it not operating? Most of the bullying is being done by the present members of the league. Why wait for Uncle Sam to arrive before putting a stop to their own operations? That is a matter of their own will. If Uncle Sam is expected to force them to behave, we see no reason why he cannot do it better as a free agent. Neither do several important members of the league. That is why they want him to go in. Mr. Cox is for going in, or says he is. That is why he East—who had not contributed a dollar to his support—of his death. In less than two weeks' time the Eastern brother arrived and took his share of his brother's half of the property, although the wife had earned every dollar. Take the case where there are two children: A woman has $1000.00 in a bank when she marries. She and her husband use this money to start a dry goods business; they both clerk in the store. They have two daughters; when they are ten and twelve years of age the mother is afflicted with tuberculosis; she asks advice in making a will, Vote "Yes" on the Chiropractic Initiation Measure Number 5 To the Savings Depositors of the Golden State Bank To the Savings Depositors of the Golden State Bank OF ANAHEIM YOU ARE HEREBY NOTIFIED, THAT THE UNDERSIGNED, FORMERLY THE GOLDEN STATE BANK OF ANAHEIM, NOW THE GOLDEN STATE NATIONAL BANK OF ANAHEIM, HAS CONVERTED FROM A BANKING CORPORATION EXISTING UNDER THE LAWS OF CALIFORNIA INTO A NATIONAL BANKING ASSOCIATION; AND HAS THEREFORE CEASED TO BE UNDER THE JURISDICTION AND DIRECTION OF THE CALIFORNIA STATE BANKING DEPARTMENT AND THE BANK ACT OF CALIFORNIA, AND IS NOW UNDER THE JURISDICTION AND CONTROL OF THE FEDERAL RESERVE ACT AND THE NATIONAL ACT. YOURS VERY TRULY, The Golden State National Bank of Anaheim Adolph Thomas, President. E. E. Smith, Cashier.