OCR Text |
Show MA!e- f 16 , Fall in Price Ha Now Reached Bottom, Accord iiig to Commerce Body. ment the liability for refund will be large, The statute of limitations on olaims for refund does not run until five years have expired from the date when tha tax return was due, so that It Is still open for taxpayers to claim refunds aa far back aa ths tax on 1945 Income. If the supreme court decides that th profit from security sales cannot be taxed as Incomes, it would not be logical for congress to continue to allow tosses on such sales aa a deduction. A decision that such profits were not taxable would not, however, automatically Invalidate this deduction, Th right of congress to allow these and other losses as deductions from Income Is based on enBoston News tirely different ground Bureau, U. S. EXPENDITURES FALL. March IS GovernWASHINGTON, ment expenses for tbs sight months end- ing March i wars approximately ft, 250, 000,000 below expenditures for ths corresponding period In the fiscal year 1020. Show Treasury figures today show that for the last eight months It cost U, 247,000,000 to run ths government, while during tne in High same period a. year ago. ths'sxpsnses were . 4490, 000,000. Officials said ths decrease reflected th Coal Record discontinuance of federal activities Incident to the war and that If the present rate of reduction was maintained th total outgo for ths current fiscal year, ex- reelusive of payments on the greet war debt Outstanding features of tbs' current on would hardly exceed f4 000,000,000. Total port of th department of commerce expenditures for tbs flssal year ending the report of Canadian' business forI920 last duly were 13, 4o3.000.400. are the rise and fall of commodify prices easier In the this as WILL FORM CREDIT. PLAN. oountry, experienced situation as regards money which la preLONDON, March 19. Sir D. Drummond banker and dicted for 1921, the continued growth of Fraser, the Manchester financier, ha been appointed by the ecothe pulp and paper business, the high nomic and finance committee of the record reached in Coal production and the league of nations, as organiser of the scheme of International credits, proposed Increased value of agricultural products. the Dutch financial by. Dr, Consul (Jeneral Albert Halstead at Mon exjfert at the Brussels financial confertreat reports: ence last October. annual report of Briefly, th 'schema la to inane esThe seventy-eight- h the council of the Montreal board ot sential Imports into these countries by of Issue of gold bonds secured by asthe sn statement admirable trade contains It signed assets In ths Importing country. conditions in Canada during 1930. unshows that prices continued to climb til the middle of the year. In the second TREASURY BUYS VICTORIES. half a series of sharp declines, at first WASHINGTON, March 19. Concentralargely confined to raw products, spread tion of treasury purchases of e to manufactured articles, ao that at pres- securities on tha Victory notes has begun ent there Is scarcely a commodity that to show substantially. Figures mao has not been reduced In price. lublic at ths treasury today disclose that I n ths eight months of th fiscal year apLeather Trade Affected. proximately (97,000,000 in Victory not The February purchases The leather trade first felt the fall were retired. the demand for boots and shoes ceasing, aggregated fid, 000, 000. down. to close and factories, commencing It Is believed that there will be better WOULD BUY RAILROAD. results this year, because the stocks of WASHINGTON, March 19. Th Minshoss sr rapidly being exhausted, and St. 1aul ft fiault Sts Marls prices are down to a basis of production neapolis, company asked authority of the and perhaps in soma cases below. Furs Railway were offered at half ths former top prices Interstate commerce commission today to for lurchaae 33.8U3AOO, the Wisconsin 4k in some Instances. vdrtliern railroad, 13314 mils in length, Though foodstuffs for ths most part and described as a short line serving a did not show so great a fall aa manufachaving heavy trsfflo, but Is untured goods. In most easel there was s district able to provide a market on Us own l!n the to were due declines decline. These refusal of the publlo to purchase at higher for tha product it originates. prices. In consequence. St the beginning of this year a general slowing down of inHOTEL COMPANY BANKRUPT, dustry and an Increase of unemployment COUNCIL BLUFFS. Iowa. March 19. are noticed, and wage adjustments In s of the action nineteen of its downward direction are taking place. The Through Involuntary council finds It difficult to predict how creditors for heavy amounts, Wer bankruptcy proceedings brought Indbut present long this will continue, comtha North American Hotel ications are that many adjustments will againsta doof but this pany, few corporation city, pe finished In the process of a ng business In lows, Nebraska and Kanmonths. sas, In federal court- - tier today. Fremont ap Benjamin,15. referee fn bankruptcy, Concessions Made. W. Exfey, an attorney ot lointed have all irnshs and Council Bluffs, receiver. Th , "Wholesalers andIn thsretailers matter of profits receiver a bond was fixed St 320,000. The mads concessions and In many instances apparent, profits receiver will set until the appointment of have become losses through shrinkage in trustees, which is said would b within Inventorlal values. It Is now ths turn one month. I of the other Important factor In ths makbeRAILS AND INDUSTRIAL. ing of prices, namely, wages, and It recgins to look as though wage earners (As reported by J. A Hogls ft Co.) will be and situation the prepared ognise Twenty Industrials, 73 SO; up .S3, to make concessions also. Should this Twenty railroads, 70.75; oft ,QL to be the case, the first terloud step United States exports for February ag- t readjustment will have been taken, $3,65,000,000 $459,000,000, against may ones more be started n January. rnd Industry Imports $215,000,000, against upon a steadier and more $909,000,000 in January. course. Dun's reports 277 failures In th United Ths year Just Ths report continues: this week, sixteen less thgn last closed wsa a pronounced success from a States and contrast with $11 two weeks week, banking standpoint for banking In profits 514 the high point reached, week and ago some were never so high before and of January 13. Instances the Increase on the unpreceReport of ths Interstate commerce comdented figures of ths previous year was mission shows total operating revenues it Is worthy of note, of railroads quits remarkable, last July, August and Sephowever, that at many of the annual bank were of which 82 tember ofmeetings, ths addresses of their chiefcould per cent went $1,699,000,000, for payroll these profits ficials Indicated that 400 than of More New York members not be expeoted to continue. Money was stock sign petition for holiday ecarce throughout the year, partly owing March exchange 28, following Coed Friday. to the high price of commodities, but now T-that Industry Is slowing down and prices of money quantity ftmuHef CLEARING HOUSE REFORT. rapldty contracting, ths be much ft to ml required pro clearings ., ..,.( 2,037,954.41 and thus sn easier situation Is looked for. Saturday's Same last year ....... 2,831,783.94 Bank clearings for ths whole of Canada Weeksday 12,974.449.42 clearings this amount Same week aggregated 920,257,021,000, ...... lost 13,209,470.72 year exceeding tbs high record of 1919, r - -- - i THE SALT LAKE TRIBUNE,' SUNDAY MORNING, MARCH 4 t 192i 20, New At New Low Prices ; Agricultural Product Increase Value; Reached. OST SHOE merchants delayed buying their footwear until January. Then by some sudden psychological turn of mind, rushed into the market with big orders when crowded. Prices were thp market-waimmediately stabilized and in some the factories been able to make deliveries on schedule. If therp is one thing that we pride ourselves on more than another, it is the fact that we carefully analyzed every situation. We knew that business conditions would right themselves and that the buying power of the great American public, while temporarily reduced, would still be here in wonderful volume. . . r s n, -- war-tim- ' Consequently, we --have been in the market at all times; buying both, the advanced novelties and staple styles and are one of a very few stores that are now in a position to show you a big range of styles. And, best of all, the prices prevailing demonstrate the increased buying power. -- satis-lacto- ry Value Increases. The Hralue of ths output of ths Cana dian pulp and paper mills is given as 1134.1(1.000 for the first ten months of i8 J.l,tKiu the year, as compared with for .he corresponding period of 191 semiofficial a The report states that estimate values the major field crop ol Canada at $1.S4,$85,000. as compared With (1,453.438,000 In 1919. The board ot trade estimates that the coal production of Canada reached a high record, ths estimated output exceeding compared with 13,477.-(0- 0 15 000 000 tons, tons In 1910 and the previous righ In 1918. of 14,977.923 record The aggregate velue ofa the products about of ths mines la reported but for the last month of tne fear conditions were not entirely satisall materials except factory, th price of and curtailment ot gold having fallen, was genproduction In some companies low.ered of this price. 1 he eral because pobetter In a are mines relatively gold sition." k 0, PRISON PAPER SUSPENDS. March 19 Pin OS8IKIXO, N. Y Ring prison s newspaper, the Bing Sing lietm. started twenty-tw- o yea has suspended for lack of funds. Warden .awes announced tonight. He explained that all money available for getting out the paper had been exhausted and, al though . the funds would b provided 4n the budget for ths new fiscal year begindoubted whether th paning July 1, he be resurrected. per aver would Th Bulletin, first known as ths Star of Hops, had a circulation In Furore and America and was a curio of American Journalism, It was tha pioneer prison publication and was edited exclusively by prisoners. NOTED BAR FORCED TO CLOSE. March 19 High rent have closed Aldermen "Hlnky Dink' McKenna's barroom as prohibition closed his "workingmens exchange." The later pise on lower Clark street dispensed th largest tumbler of beer for a nickel In th old dsva Th barroom wher Henna catered lo hi mor select custom and greeted his TAX CASE IMPORTANT. friends has been rented for a ' The securities profits esses which were political restaurant t (1000 a month. Th First week court In said he paid (500 a month, last alderman ward ths supreme argued are of greater Importance than the tok but had been toeing money, Just to have Inthe amount of css in dividend a hangout for th boys." money volved. , They raise the question whether under PATENT ATTORNEY tha income tax amendment congress has the power to tax the profit derived from PATENTS Drelgn. engineering law. I.loyS . sates ot securities hy persons not engaged Wax IBS. kSlBS Ostrleai, 9tS Atlas la th security business. . M. THOM AH. the He. V. fl. Psteat - In two cases th lower court upheld that J. stored ts 4IS-ICestlsestal In the district court for Con- flee himhas jewer. But shout your Ineeattoaa. aSHSI necticut In the css of Brewster vs. Walsh, collector. Judge Thomas held that a gain TAN NINO tn vatu real laud from tha sal of property Is not Income, and cannot be taxed as AXJ. kind ef tanning, robe, coats, rents asaSa eaae toAll were beard such. three of fur hide. til kinds af fur work; tander-mlParker' Tkxldrtmlat Iko. slfl work, getheranby th supreme court . As Incidental question of no Inconfla State, Balt Lake City. .17 1 siderable Importance, these cases Involve th right of th goverment to use the nraNmntB March 1, 1913, valuation tn determining the amount of taxable profit. During bis ftiORRIU furnltur ifwtrlnf COMFANT, 4 Dull !utet a spftciaU. rtfitrithliif argument th solicitor for th government Wu, conceded that th department had erred 61 M. 2&i N. Ut Vwl, r7l 6 in It practice of requiring the profit to pe returned on the bails of March 1, 1913, MUSICIANS valuation where that valuation was leas MUfUG furlsh4 for balls, partita aft4 than ths original cost. 4 to. Woo, 1U j. In th Brewster case, for example, ths T'a. Uaa. Koala 1 164ft plalntirf' had acquired before 1911 a block 6N Kaat of bon for $191,000. Their market value March 1, 1913. was (151.345, and they wer 8H0B BEPAntlHO sold In lilt for Just what they cost. $191. 0"0 Brewster had been taxed on th ITITCHK8 that add lo mr; tap. 0. 6, Phot 41S fto. Plata. a6&8 Kapalrtaf difference between (151,845 and (191 000 The government's attorney conceded that as h haul realised no actual profit there WHEEL CHAIRS eould tie no tax. Another block of bonds had been acquired before 1911 for $231,300 WHEEL ektlrs for tale or ts eet. g. IL bewmar bo., mas 223 Brooks Arced and aold In 191t for $273,150. Their marBldg ket value on March 1, 1911, was but Brewster was originally taxed on th difference between (134,480 end th KAL BO MINING sal pries of (273,150 Th government's pelatlas. paper fleaslns. floor attorney conceded that h could not b XAlAiOMIhlNU, Boll.hlns, general hoiu cleaning, nasooahl hold for more than the pain over the or 11 Wsa. 4227. price linos jnU coat of 1241,800, but vitrorouftiy on (and that ths gain I taxable, and this becomes th mala question before Use M0DEL8 FOR INVENTOR court, Th case turns on what Is meant by wa Stska sad perfect models af all kinds. Brass ssd msrhla work. Kaadsoa Morally Income." The constitution! amendment Ouods lo., BIS Se. Slat. w7ISB give congress ths power to tax Income. ft Sporting CHICAGO: blm-k- Attar-sey. hospital l.. (144.-48- 0. 4 a Superior Store Service We are never satisfied with the progress we have made. Every salesman in our organization wants to make our vice better than ever. . serRegular $15.00 Values The many expressions of confidence and esteem whilvcome to us from the casual stranger as well as from our regular customers, is extremely gratifying. It makes us feel that our efforts to give superior store service 'with merchandise that is of the highest type and a variety of assortments 'beyond comparison, are not entirely in vain. W I Miller and other famous new spring Brooklyn Novelties at reduced prloss. Hearing Innovation In Ankle Instep and other fanciful strep effects; (CHERT, also tongue effects. Slander lines; soft, pliable leathers. Our exhibit of spring footwear Is an Index to all that lx new and are lower fashionable Price than they have been In years. , Mail Orders Filled Samples Furnished on Request Cong: FLUrr RUGS profit tends that all gains and profit sre Incom. from old carpets sad rags, ragard-leThe plaintiff say no, that an Increase In A KB mad of their roadlUoa. 04 Medea area. the value of capital asset Is not Innoma, It el. fid 4181 K. a 11 and point te th long line of In ease of property held In truet which hold WINDOW CLEANING that galna realised hy th trustee from th eala of capital assets are not Income WIMeOW, houeeelranlng. floor waxing, rail to hs distributed, but are principal to he Hy- 237 Amerlian W Inflow ltaa. to, p5,4g added lo the trust fund. Th plelntltfs el.o reply on th etock dividend case at RAOTIME showing that congress cannot tax capital increment hy calling It Incom PIANO playing gaaranleed la 13 leases : not IX lit decision ,1s against the govern- t aas. WaUtatas, Mfc Be Maim u,J V a e Salt Lake 118 Main Street - 4 f Branch- - Idaho Falls |