anaheim-gazette 1924-10-23

TAX VEHICLES TO BUILD ROADS The demand of Chairman Toy of the state highway commission that the highways of this state be extended and completed by the application of charges to benefit traffic and not to general taxation expresses a principle that should be approved by the people of California and be embodied in legislation. The benefit of highway extension is generally admitted. But there has been too great a tendency to place the cost on an invisible source of revenue, rather than on the visible source which is also the benefitted source. It has been a habit, perhaps a proper habit, of tax seekers to place the cost of government where they would be the least burdensome, in other words where the least "holler" would be made. But it appears that in California the "general taxpayer" on whom the greatest share of increasing costs has been laid in recent years has awakened up and is making a holler that is being felt. The obvious thing to do in this case is to lay the cost where the benefit goes, that is on the class of business benefited. And it also happens in this case that the class of business or interested is very easily reached, with very little chance of evading the tax. The business benefitted by the use of highways is the business that drives vehicles upon the highways. And with almost no exception, these interests use gasoline in the driving of the vehicles; gasoline whose cost is almost directly proportionate to the degree of use of the pavements. That the gasoline cost proportion is not entirely accurate can also be met by adding to the gasoline tax a further license charge, proportioned to the weight and other characteristics of cars that differentiate them irresponsibly, and voted against the 15 cent rate recommended by the committee. He voted against the committee amendment to increase the duty on unshelled walnuts from 2 1/4 to 4 cents and also against its amendment increasing the duty on the shelled from 7 1/2 to 12 cents a pound. He voted for the duty on olive oil. "On behalf of Southern products we voted to have the old Democratic rates continued on rice, and for a duty which had raised hob with the peanut industry. This was on July 8 and 10. The same day he voted against adequate protection on linseed oil. Then he disappeared, but he got back in time to vote against the conference report on the tariff, September 19th. "California should be interested in these facts as taken from the Congressional Record, 67th Session., 2nd Congress Senate Document 264." IN SPITE OF THE CONSTITUTION Third party leaders and their supporters do not attempt to disguise the fact that the main issue of their campaign is the integrity of the Constitution. Mr. Gompers, who, a short time ago, had the effrontery to declare that members of organized labor would vote for the third party candidates, states the case very clearly. "What is demanded," he says, "is that the people finally may be able to outvoice the Supreme Court and write their will into law in spite of the Constitution" for that is exactly what he had in mind. He proposition is that the people, through their representatives in Congress, shall enact what laws they please, and that those representatives shall be the sole judge of the constitutionality of these laws. In other words, the limits of the Constitution on Congressional authority shall be removed and Congress shall pound, and voted against the 15 cent rate recommended by the committee. He voted against the committee amendment to increase the duty on unshelled walnuts from 2 1/4 to 4 cents and also against its amendment increasing the duty on the shelled from 7 1/2 to 12 cents a pound. He voted for the duty on olive oil. "On behalf of Southern products we voted to have the old Democratic rates continued on rice, and for a duty which had raised hob with the peanut industry. This was on July 8 and 10. The same day he voted against adequate protection on linseed oil. Then he disappeared, but he got back in time to vote against the conference report on the tariff, September 19th. "California should be interested in these facts as taken from the Congressional Record, 67th Session., 2nd Congress Senate Document 264." The business concerned by the act of highways is the business that drives vehicles upon the highways. And with almost no exception, these interests use gasoline in the driving of the vehicles; gasoline whose cost is almost directly proportionate to the degree of use of the pavements. That the gasoline cost proportion is not entirely accurate can also be met by adding to the gasoline tax a further license charge, proportioned to the weight and other characteristics of cars that differentiate them irrespective of gasoline consumption. There are a good many reasons why the cost of highway building should not be laid on the property of the citizens of the State. Nor should it be laid exclusively upon the running businesses, especially on the public utility business which in some cases is directly competitive with highway using industries. As for the alternative of bonds or direct taxation, the principle of direct taxation should be applied as far as possible. Long term bonds are not fair to the coming generation, and short term bonds even may exceed the life of the highways. We have issued a heavy proportion of state highway bonds as it is. LA FOLLETTE AGAINST CALIFORNIA Senator La Follette, the dominant spirit of the Socialist third party took mighty good care to see that the products of his state (Wisconsin) were amply protected in the Republican tariff law passed September 22, 1923 but he was not so solicitous with respect to the products of many other states and particularly the State of California, with her fruit and nut growers, James B. Reynolds, of the Washington office of the Republican National Committee pointed out today. Mr. Reynolds said: "Wisconsin is particularly interested in meat and dairy products, and wheat. The Senate Committee on Finance brought in several amendments to the House tariff bill increasing the rates on these products. The agricultural schedule was before the Senate from June 28., 1922 to July 16th, and Senator La Follette though absent and not voting, and in the majority of instances not paired, during the course of the entire debate on the tariff bill, remained glued to his seat during that week. He was the old time La Follette of McKinley tariff days, and for a brief space his Re- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette, the dominant spirit of the Socialist third party took mighty good care to see that the products of his state (Wisconsin) were amply protected in the Republican tariff law passed September 22, 1923 but he was not so solicitous with respect to the products of many other states and particularly the State of California, with her fruit and nut growers, James B. Reynolds, of the Washington office of the Republican National Committee pointed out today. Mr. Reynolds said: "Wisconsin is particularly interested in meat and dairy products, and wheat. The Senate Committee on Finance brought in several amendments to the House tariff bill increasing the rates on these products. The agricultural schedule was before the Senate from June 28., 1922 to July 16th, and Senator La Follette though absent and not voting, and in the majority of instances not paired, during the course of the entire debate on the tariff bill, remained glued to his seat during that week. He was the old time La Follette of McKinley tariff days, and for a brief space his Re- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette, the dominant spirit of the Socialist third party took mighty good care to see that the products of his state (Wisconsin) were amply protected in the Republican tariff law passed September 22, 1923 but he was not so solicitous with respect to the products of many other states and particularly the State of California, with her fruit and nut growers, James B. Reynolds, of the Washington office of the Republican National Committee pointed out today. Mr. Reynolds said: "Wisconsin is particularly interested in meat and dairy products, and wheat. The Senate Committee on Finance brought in several amendments to the House tariff bill increasing the rates on these products. The agricultural schedule was before the Senate from June 28., 1922 to July 16th, and Senator La Follette though absent and not voting, and in the majority of instances not paired, during the course of the entire debate on the tariff bill, remained glued to his seat during that week. He was the old time La Follette of McKinley tariff days, and for a brief space his Re- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette, the dominant spirit of the Socialist third party took mighty good care to see that the products of his state (Wisconsin) were amply protected in the Republican tariff law passed September 22, 1923 but he was not so solicitous with respect to the products of many other states and particularly the State of California, with her fruit and nut growers, James B. Reynolds, of the Washington office of the Republican National Committee pointed out today. Mr. Reynolds said: "Wisconsin is particularly interested in meat and dairy products, and wheat. The Senate Committee on Finance brought in several amendments to the House tariff bill increasing the rates on these products. The agricultural schedule was before the Senate from June 28., 1922 to July 16th, and Senator La Follette though absent and not voting, and in the majority of instances not paired, during the course of the entire debate on the tariff bill, remained glued to his seat during that week. He was the old time La Follette of McKinley tariff days, and for a brief space his Re- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette, the dominant spirit of the Socialist third party took mighty good care to see that the products of his state (Wisconsin) were amply protected in the Republican tariff law passed September 22, 1923 but he was not so solicitous with respect to the products of many other states and particularly the State of California, with her fruit and nut growers, James B. Reynolds, of the Washington office of the Republican National Committee pointed out today. Mr. Reynolds said: "Wisconsin is particularly interested in meat and dairy products, and wheat. The Senate Committee on Finance brought in several amendments to the House tariff bill increasing the rates on these products. The agricultural schedule was before the Senate from June 28., 1922 to July 16th, and Senator La Follette though absent and not voting, and in the majority of instances not paired, during the course of the entire debate on the tariff bill, remained glued to his seat during that week. He was the old time La Follette of McKinley tariff days, and for a brief space his Re- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette, the dominant spirit of the Socialist third party took mighty good care to see that the products of his state (Wisconsin) were amply protected in the Republican tariff law passed September 22, 1923 but he was not so solicitous with respect to the products of many other states and particularly the State of California, with her fruit and nut growers, James B. Reynolds, of the Washington office of the Republican National Committee pointed out today. Mr. Reynolds said: "Wisconsin is particularly interested in meat and dairy products, and wheat. The Senate Committee on Finance brought in several amendments to the House tariff bill increasing the rates on these products. The agricultural schedule was before the Senate from June 28., 1922 to July 16th, and Senator La Follette though absent and not voting, and in the majority of instances not paired, during the course of the entire debate on the tariff bill, remained glued to his seat during that week. He was the old time La Follette of McKinley tariff days, and for a brief space his Re- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette, the dominant spirit of the Socialist third party took mighty good care to see that the products of his state (Wisconsin) were amply protected in the Republican tariff law passed September 22, 1923 but he was not so solicitous with respect to the products of many other states and particularlythe State of California,with her fruit and nut growers James B. Reynolds.ofthe Washington officeoftheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat and dairy products,and wheat.The Senate Committee on Finance brought in several amendments totheHousetariffbillincreasingtheratesontheseproducts.TheagriculturalschedulewasbeforetheSenatefromJune28.,1922toJuly16th,andSenatorLaFollettethoughabsentandnotvoting,andinthemajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletteofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inthe Republican tariff law passed September 22, 1923 but he was not so solicitous with respect tothe products of many other states and particularlythe State of California,vithherfruitandnutgrowersJamesB.Reynolds.oftheWashingtonofficeoftheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat和 dairy products,and wheat.The Senate Committee on Finance brought in several amendments totheHouse tariff billincreasingtheratesontheseproducts.TheagriculturalschedulewasbeforetheSenatefromJune28.,1922toJuly16th,andSenatorLaFollettethoughabsentandnotvoting,andinthemajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletteofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inthe Republican tariff law passed September 22, 1923 but he was not so solicitous with respect tothe products of many other states and particularlythe State of California,vithherfruitandnutgrowersJamesB.Reynolds.oftheWashingtonofficeoftheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat和 dairy products,and wheat.The Senate Committee on Finance brought in several amendments totheHouse tariff billincreasingtheratesontheseproducts.TheagriculturalschedulewasbeforetheSenatefromJune28.,1922toJuly16th,andSenatorLaFollettethoughabsentandnotvoting,andinthemajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletteofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inthe Republican tariff law passed September 22, 1923 but he was not so solicitous with respect tothe products of many other states and particularlythe State of California,vithherfruitandnutgrowersJamesB.Reynolds.oftheWashingtonofficeoftheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat和 dairy products,and wheat.The Senate Committee on Finance brought in several amendments totheHouse tariff billincreasingtheratesontheseproducts.TheagriculturalschedulewasbeforetheSenatefromJune28.,1922toJuly16th,andSenatorLaFollettethoughabsentandnotvoting,andinthemajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletteofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inthe Republican tariff law passed September 22, 1923 but he was not so solicitous with respect tothe products of many other states and particularlythe State of California,vithherfruitandnutgrowersJamesB.Reynolds.oftheWashingtonofficeoftheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat和 dairy products,and wheat.The Senate Committee on Finance brought in several amendments totheHouse tariff billincreasingtheratesontheseproducts.TheagriculturalschedulewasbeforetheSenatefromJune28.,1922toJuly16th,andSenatorLaFollettethoughabsentandnotvoting,andin.themajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletteofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inthe Republican tariff law passed September 22, 1923 but he was not so solicitous with respect tothe products of many other states and particularlythe State of California,vithherfruitandnutgrowersJamesB.Reynolds.oftheWashingtonofficeoftheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat和 dairy products,and wheat.The Senate Committee on Finance brought in several amendments totheHouse tariff billincreasingtherateson-theseproducts.TheagriculturalschedulewasbeforetheSenatefromJune28.,1922toJuly16th,andSenatorLaFollettethoughabsentandnotvoting,andin.themajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletteofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Follette,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inthe Republican tariff law passed September 22, 1923 but he was not so solicitous with respect tothe products of many other states and particularlythe State of California,vithherfruitandnutgrowersJamesB.Reynolds.oftheWashingtonofficeoftheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat和 dairy products,and wheat.The Senate Committee on Finance brought in several amendments to-theHouse tariff billincreasingtherateson-theseproducts.TheagriculturalschedulewasbeforetheSenatefromJune28.,1922toJuly16th,andSenatorLaFollettethoughabsentandnotvoting,andin.themajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletteofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Folleton,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inthe Republican tariff law passed September 22, 1923 but he was not so solicitous with respect tothe products of many other states and particularlythe State of California,vithherfruitandnutgrowersJamesB.Reynolds.oftheWashingtonofficeoftheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat和 dairy products,and wheat.The Senate Committee on Finance brought in several amendments to-theHouse tariff billincreasingtherateson-theseproducts.Theagriculturalschedulewasbefore,theSenatefromJune28.,1922toJuly16th,andSenatorLaFolletonthoughabsentandnotvoting,andin.themajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletonofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Folleton,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inthe Republican tariff law passed September 22, 1923 but he was not so solicitous with respect tothe products of many other states and particularlythe State of California,vithherfruitandnutgrowersJamesB.Reynolds.of.theWashingtonofficeofTheRepublicanNationalCommitteepointedouttoday.Mr.Reynoldssaid: "Wisconsin is particularly interested in meat和 dairy products,and wheat.The Senate Committee on Finance brought in several amendments to-theHouse tariff billincreasingtherateson-theseproducts.Theagriculturalschedulewasbefore,theSenatefromJune28.,1922toJuly16th,andSenatorLaFolletonthoughabsentandnotvoting,andin.themajorityofinstancesnotpaired,duringthecourseoftheentiredebateonthetarifbillremainedgluedtothesecatduringthatweek.HewastheoldtimeLaFolletonofMcKinleytarifdays,andforabreflspacehisRe- LA FOLLETTE AGAINST CALIFORNIA Senator La Folleton,the dominant spirit ofthe Socialist third party took mighty good care to see thatthe products of his state (Wisconsin) were amply protected inThe Republican Tariff BillIncreasing The Rates On These Products The Agricultural Schedule Was Before The Senate From June 28., 1924 To July 16th And Senator La Folleton Though Absent And Not Voting And In The Majority Of Instances Not Paired During The Course Of The Entire Debate On The Tariff Bill Remained Glued To His Seventh Powers Declared To Congress By The Constitution And Its History All Rights Are Undoubtedly The Best Which Human Nature Is Capable Of Producing Congress Always Has At Hand The Means Of Removing Any Supreme Court Judge Who Permits Himself To Be Guided By Improper Motives Through "Impeachment For The conviction Of Treason,Bribery Or Other High Crimes And Misdeemeanors." It Is Freely acknowledged by all sides that removal Of all restraints Upon The actions Of Congress Is The principal question That divides The Republicans And The Supporters Of The Third Party President Coolidge Insists That The Sixteen Powers Declared To Congress By The Constitution And Its History All Rights Are Undoubtedly The Best Which Human Nature Is Capable Of Producing Any Supreme Court Judge Who Permits Himself To Be Guided By Improper Motives Through "Impeachment For The conviction Of Treason,Bribery Or Other High Crimes And Misdeemeanors." Amendment No. 9 Announcement Of numerous endorses Of Measure No. 9 On The November 4th ballot by which The Legislature will be enabled To levy A tax On foreign securities Was made Today By The Southern district headquarters Of The California Taaxition Improvement Association. Endorsements received To date, Total State Of California County Of Orange County I.E.C.E. Eldon W. Stark Subscribed And sworn Of October, 1924 ELDON W. STARK Subscribed And sworn Of October, 1924 ELDON W. STARK Subscribed And sworn Of October, 1924 ELDON W. STARK Subscribed And sworn Of October, 1924 ELDON W. STARK Subscribed And sworn Of October, 1924 ELDON W. STARK Subscribed And sworn Of October, 1924 ELDON W. STARK Subscribed And sworn Of October，1924 ELDON W. STARK Subscribed And sworn Of October，1924 ELDON W. STARK Subscribed And sworn Of October，1924 ELDON W. STARK Subscribed And sworn Of October，1924 ELDON W. STARK Subscribed And sworn Of October，1924 ELDON W. STARK Subscribed And sworn Of October，19 In the course of that week Senator La Follette voted to increase the duty on fresh beef from 2 to 3 1-2 cents a pound; on fresh lamb from 2 to 5 cents a pound; on bacon, hams, etc., from 1 1-4 to 2 cents a pound, on lard from 25 per cent ad valorem to 5 cents a pound, probably about 50 per cent ad valorem; in milk from 1 cent to 2 1-2 cents a gallon; and to increase the duty on cream to 22 1-2 cents a gallon; to increase the duty on poultry from 2 to 3 cents a pound, on honey from 2 1-2 to 3 cents a pound, and on wheat from 25 to 30 cents a bushel. Having fixed up Wisconsin in pretty good shape with Senator La Follette's help the Senate passed to some commodities in which California was particularly interested, and then the adroit gentleman from the Badger State suffered a complete relapse. He voted against the committee amendment to increase the duty on unshelled almonds from 4 to 5 cents a pound, and he was the only Senator sporting a Republican label who did so. He voted for the amendment of Senator Walsh of Massachusetts, (Democrat) to reduce the duty on shelled almonds from 15 to 6 cents a AMENDMENT NO. 9 Announcement of numerous endorsements of Measure No. 9 on the November 4th ballot, by which the Legislature will be enabled to levy a tax on foreign securities, was made today by the southern district headquarters of the California Taxtion Improvement Association. Endorsements received to date, according to the records of Lin William Price, Southern California secretary of the association, include those of the County Assessors' Association of California, California Real Estate Association, the Los Angeles and the San Francisco Chambers of Commerce, the Civic League of Improvement Clubs of San Francisco and the Los Angeles Reality Board. The Amendment is endorsed by R. E. Collins, chairman of the State Board of Equalization, State Controller Ray L. Riley, State Treasurer Charles G. Johnson, State Building and Loan Commissioner Charles R. D. Detrick and in general by practically all State and County Officials dealing with taxation. It is estimated that there are approximately two billion dollars of such foreign securities in this state from which no revenue is derived, the proposed measure being designed to reach these securities and bring an estimated increase of many millions of dollars to the counties and municipalities of the state. Secretary Price declared today that there was absolutely no opposition to the measure, the chief object of the Taxation Association being to inform the public of the benefits that would be derived from the operation of the proposed law. Charter No. 11,823 Reserve District No. 12 REPORT OF CONDITION OF THE Golden State National Bank AT ANAHEIM in the State of California, at the close of business on October 10, 1924 RESOURCES 1. a. Loans and discounts, including rediscounts, acceptances of other banks and foreign bills of exchange or drafts sold with indorsement of this bank ... $690,718.82 Total Loans ... $690,718.82 2. Overdrafts, unsecured ... 145.53 3. U.S. Government Securities owned: a. Deposited to secure circulation (U.S. Bonds par value) ... 9,000.00 b. All other United States Government securities (including premiums, if any) ... 233,196.87 Total ... 242,196.87 5. Other bonds, stocks, securities, etc. ... 82,721.39 6. Banking House ... 45,151.61 Furniture and fixtures ... 8,434.48 8. Lawful reserve with Federal Reserve Bank ... 65,586.09 10. Cash in vault and amount due from national banks ... 130,103.43 11. Amount due from State banks, bankers and trust companies in the United States (other than those included in Items 8 and 10) ... 8,673.94 12. Exchanges for clearing house ... 4,722.12 Total of Items 10, 11 and 12 ... 145,499.49 15. Redemption fund with U.S. Treasury and due from U.S. Treasurer ... 450.00 Total ... 1,278,404.28 LIABILITIES 17. Capital stock paid in ... 75,000.00 18. Surplus fund ... 25,000.00 19. Undivided profits ... 45,596.26 c. Less current expenses, interest and taxes paid... 13,214.92 20. Circulating notes outstanding ... 9,000.00 24. Certified checks outstanding ... 10.95 25. Cashier's checks outstanding ... 13,770.30 Total of Items 24, and 25 ... 13,781.25 Demand deposits (other than bank deposits) subject to Reserve (deposits payable within 30 days:) 26. Individual deposits subject to check ... 614,847.40 28. State, county or other municipal deposits secured by pledge of assets of this bank or surety bond Total of demand deposits (other than bank deposits) subject to Reserve, Items 26 and 28 ... 714,847.40 Time Deposits subject to reserve (payable after 30 days, or subject to thirty days or more notice, and postal savings:) 32. Certificates of deposit (other than for money borrowed) ... 113,417.70 34. Other time deposits ... 294,976.59 M.Eugene Durfee ARCHITECT Room 5, Cassou Bldg Phone 692 Anaheim Announcing an opportunity to invest in the profitable business of AUTOMOBILE FINANCING. A going concern with a record of having paid 32% in cash dividends the past three years. Send for booklet and references. RELIANCE COMPANY Long Beach, California SUMMONS IN THE SUPERIOR COURT OF THE Total of Items 24, and 25 Demand deposits (other than bank deposits) subject to Reserve (deposits payable within 30 days:) 26. Individual deposits subject to check ... 614,847.40 28. State, county or other municipal deposits secured by pledge of assets of this bank or surety bond Total of demand deposits (other than bank deposits) subject to Reserve, Items 26 and 28 ... 714,847.40 32. Certificates of deposit (other than for money borrowed) ... 113,417.70 34. Other time deposits ... 294,976.59 Total of time deposits subject to Reserve, Items 32 and 34 ... 408,394.29 Total ... 1,278,404.28 STATE OF CALIFORNIA COUNTY OF ORANGE SS. I. E. E. Smith, Cashier of the above named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. E. E. SMITH, Cashier (NOTARY SEAL) Correct Attest: C. F. GRIM FRED KOESEL ADOLPH THOMAS. Subscribed and sworn to before me this 16th day of October, 1924. ELDON W. STARK, Notary Public. Try Us When You Want Job Work Is Five Cents on the Dollar of Valuation too Much to Earn? If a business worth $10,000 earned $500 net income in a year (or $41 a month), would it be considered an unreasonable profit and proof that its prices were too high? The railroads are in that situation today. The 1923 net return for the whole country was less than 5 per cent. As of December 31, 1919, the Interstate Commerce Commission gave to the railroads a tentative valuation of $18,900,000,000. With actual figures for 1920, 1921, 1922, and with 1923 conservatively estimated as $1,100,000,000, there has been invested in the railways since this tentative valuation a net amount of $2,371,583,000, making the value as of December 31, 1923, $21,271,583,000.. On this amount the Railways in 1923 earned an aggregate net operating income of approximately $997,610,000, or 4.89 per cent. The Government guarantee of earnings expired August 31, 1920. If this guarantee had been continued—as repeatedly but erroneously claimed—the Government would owe the railroads more than a billion dollars. Last year the roads handled a record volume of business but could... As of December 31, 1919, the Interstate Commerce Commission gave to the railroads a tentative valuation of $18,900,000,000. With actual figures for 1920, 1921, 1922, and with 1923 conservatively estimated as $1,100,000,000, there has been invested in the railways since this tentative valuation a net amount of $2,371,583,000, making the value as of December 31, 1923, $21,271,583,000. On this amount the Railways in 1923 earned an aggregate net operating income of approximately $997,610,000, or 4.89 per cent. The Government guarantee of earnings expired August 31, 1920. If this guarantee had been continued—as repeatedly but erroneously claimed—the Government would owe the railroads more than a billion dollars. Last year the roads handled a record volume of business but could not earn the fair return of 5% per cent to which the Interstate Commerce Commission, under the Transportation Act, has found they are entitled. If the roads cannot earn 5% per cent in a big year, what will they do in a small year? The Transportation Act provides that if a road in any year earns more than 6 per cent it shall pay one-half of the excess to the Government. The Act is therefore, a limitation rather than a guarantee. GIVE TRANSPORTATION ACT FAIR TRIAL The Transportation Act should be given a fair test and its merits judged by the results of a normal period of reasonable length. The year 1923 was the first since the war under conditions approaching stabilization. What the railroad situation demands just now is not more law but more confidence. The railroads have emerged from the welter of the war, restored their morale, made enormous investments of new money, and in 1923 handled a peak business with universal satisfaction. The Transportation Act is the only really constructive railroad legislation of a generation. Previous acts were almost solely repressive. In framing the Act the public interest was paramount. The Act directs the Interstate Commerce Commission to "give due consideration to the transportation needs of the country and the necessity of enlarging railway facilities in order to provide the people of the United States with adequate transportation." Give the Act a chance. Don't amend it. If the roads are let alone they should make as good a record for efficiency this year as last. Constructive suggestions are always welcome. C. R. GRAY President. Omaha, Nebraska, April 1, 1924. UNION PACIFIC SYSTEM tion entitled as above, brought against you in the Superior Court of the County of Orange, State of California, within ten days after the service on you of this Summons, if served within this County, or within thirty days if served elsewhere. And you are hereby notified that unless you appear and answer as above required, the said plaintiff will take judgment for any money or damages demanded in the complaint, as arising upon contract, or plaintiff will apply to the Court for any other relief demanded in the complaint. Given under my hand and the seal of the Superior Court of the County of Orange, State of California, this 23rd day of January, 1924. (Seal) J. M. BACKS, Clerk. By A. L. Hitchcock, Deputy Clerk. 6-26 to 8-28. Orange County Business College Santa Ana, California 32nd Fall Opening September 15, 1924 Attend a school that is well established, that owns its own building, that enjoys the confidence of the public—a school that will be here to help you after you graduate and are ready for employment. You take no chances if you choose the Orange County Business College; our thirty-two years of successful operation in this field should convince you that you are secure under our guidance. Several business schools have been started in Orange county since we organized in 1892—the McDaniels' Business College, The Day School of Shorthand, Barrow's Business College and others. But where are they today? None lasted long enough to graduate the first class. You know what it means to begin in one school and have to finish in another—more time, more expense, more books to buy, new teachers with new methods—all to your detriment. You have tried that in the public school. The best is always cheapest. Then choose our Secretarial course, our bookkeeping Posting Machine Course, our actual Business Banking Course or our strong Course in Business Administration and Finance. It costs no more to attend this school than to attend a school of unproved merit. SPECIAL OFFER FOR SEPTEMBER The first ten persons residing in North Orange County who present this and in our college office before October 1, 1924, will be enrolled and trained in the course of their choice without the payment of a dollar for tuition until they have earned it after graduating. We guarantee to train you and to place you in a position. And then wait for our money until you earn it in the position we secure for you. Is there anything fairer than this? Ask other schools you investigate if they will make you the same offer. We appreciate your patronage and want to be of service to you. Try to be one of the ten. J. W. McCormac, President. J. W. McCormac, President. YESTERDAY Custom Ruled Women Monday was Wash Day TODAY—They are guided by common sense. Now: Monday or Tuesday or Wednesday or Thursday or Friday or Saturday is Laundry Day. CARL OELKE, ANAHEIM AGENT, Phone 129 THE SANITARY LAUNDRY 228 WEST SANTA FE AVE. A.W. CLEAVER, MON. FULLERTON PHONE 26 wood Home Tract A Beautiful New Development of Richfield Richfield the S. F. Railroad, two main artery boulevards, tracts, gas, lights, water and streets. Adja0,000 graded school, store, shops, garage, etc. it service, good train service to Los Angeles cities. Services far below real value. Seeing is believing. Your agents to show you this property AGNER Angeles St. naheim C. E. McFADDEN Phone 25 W Placentia