OCR Text |
Show CACHE .VALLEYS LARGEST AND! HIGHEST PRICED NET ONLY ASSOCIATED PAID CIRCULATION PRESS DAILY NEWSPAPER .VOLUME XII. SECOND SECTION. NUMBER 202 LOGAN, CACHE COUNTY, UTAH. SATURDAY, DECEMBER 21, 1929. STATISTICIAN By J. A. HENDRICKSONS SECOND ARTICLE ON THE BANK TAX QUESTION BRINGS UP DIFFERENT LINE OF ARGUMENT Reverses The Statis and Suggests Peace Along The Kellogg Pact 2 of the world if The Kellogg Pact now signed by 42 nations that: abridged into a few words simply provides not to We, the undersigned nations, herebyof agree besettlement disputes in . . resort to force of arms tween fis,' but will adjust all differences by peaceable .means." was signed by The whole world rejoiced when this agreement men everywhere commented the different world powers and great influence toof its widespread upon it favorably in consequence ward world peace. would agree upon such a comindividuals and If business men squarely, this world would unquespart and then meet the issue to live. tionably be a better place in which recommended Such a compact might have been appropriately held m convention recent at their to the Utah Bankers association . Logan. bank A very large percentage of the populace look upon the unseldirectors, as good men, presidents, bank cashiers, and bank more than half way to settle would go as such gladly and fish, court. of out mearis peaceably. That, of course, were In view of these facts, thousands of people in the state of the wherein in the presidnt press surprised to read the report m the all banks that association proposed Bankers the Utah their usual yearly tax, m which join together in a refusal to meet front. united a was there proposal I am told association gave as his reason that the The president of the state laws in that mortour with dealt by banks were unfairly loan associations whom gage loan associations, and building and were not required to banks of the he considered real competitors banks. state as rate the tax a pay as high Had the president proposed that unless mortgage and loan associations and building and loan .associations are compelled dewithin the next calender year to meet taxes in line with the taxes our to refuse will pay we thereafter mands made upon us, as we have hitherto done, and w ill fight our case in the courts. Had they thus resolved I am of the (Opinion the taxpayers of the state would have felt quite different and would have concluded the banks were justified in the stand taken. What did they do? They immediately took up arms and prethought best pared for war; engaged three law Ifirms whom theyinformed adam if correctly able to defend their case, and in and addition a as retainer, to these attorneys vanced $11,000 would aggreagreed on further amounts as commission which to $30,000. from $25,000 gate Now if this is not going to war, and apparently war to a finish in the state, rich and poor, then against all the other taxpayers war means. It is certainly not in I dont know what a real legal nations in the Kellogg Pact. the line with the example given by What money was this which was handed over to the attorI see neys and the additional amount it was agreed to pay? Asintendwas which it the money it, it was the taxpayers money, ed they should avoid paying, but, of course, which would have to be paid by. the remaining taxpayers. In. my article appearing in The Journal of November 23 I gave some figures which it becomes necessary for me to repeat in order to make clear the point I wish now to make. Taxes Assessed Against County and City I gave the amount expected from Cache Countys total taxes aa $840,634.05. I gave the Logan citys tkxea as $274,657.13. I gave the amouift assessed against Cache county banks "as : 77 7 being- $4,644.9(T I gave the --amount expected xrom.xhe Loganbanksas $21,305.51. In1 considering the matter further, I will do as I did in my former article eliminate the county outside of Logan and consider Logan and her banks only for the reason that it will shorten Continued o.i Page Six LANK SAYS PLENTY OF MONEY AT LEONARD Jost a minute, Mr. Sport Fan! Pause in your Christmas shopping while we ask you a question or wo. How many Christmas Seals have you purchased to date? Isnt it possible for you to buy a few more hetween now and the 25th? Thy niy cost a penny apiece you know. And they mean so much! In case you never took time to realize just how much, let us tip 70U off. It is something you should kaow. The sale of these seals, at thla period of year, furnishes practically the sole support of the 1,400 affiliated tuberculosis associations 1 the United States in their war against this disease. That's worth earning over In your mind, isn't It? And what have these little seals acto date? What have complished those 1,400 affiliated associations acchmpTfahed"Wl(hThsmonerrett Ized from the sale of these seals? Well, here's the answer; and It, too, Is worth more than a passing thought. In the past 15 years the ravages pt tuberculosis has beeu cut nearly in halt and advance figures from 48 states indicate that the 1928 mortality sets a new low rate. Thats the huge public service you can assist by the - purchase of these seals. Certainly a sport dan should be anxious to help this cause. Tuberculosis ha.s robbed the sports world of some of Its greatest heroes. Christy Mathewson, who helped Itft baseball to a higher plane, who brought into the game the traditions of college spirit, was struck from behind by this .dread spectre. So was Hughle Jennings, one cf the most beloved figures of the game. Johnny Miller, great with Pittsburgh, St. Louis and Philadelphia, ope of the first of the professional hall players to enlist for service In the World War, Was another. Johnny died, like poor Matty, battling to the last at Saranac Lake, N. Y. Only recently baseball lost one of the greatest spit-bapiteners of all time, Urban Shocker. Tuberculosis has taken hoavy toll in America's national game. . Joe Gans, rated by all hut personal friends of Benny Leonard, ss the greatest lightweight In thd history of the prize ring, was a '.Urn of the disease. Poor little e laid himself open to the attack by making weight for Battling Nelson in their memorable battle at a Csldfield. Jem Driscoll, once 'pride, and one of the most usver boxers the game ever had, was counted out after a typical Driscoll fight against it. So was lrrenkie Callahan, of New York, who met every lightweight In the REASONABLE RATES FOIL LEGITIMATE BUSINESS Redistribution ofl the Worlds Credit Should Prevent Early Repetition of Inflation in SeMuch Credit the Fundacurity Markets-nTo- o mental Cause of Kpeculative Excesses ' Dec. 21. Too much credit is just as bad too as 'little, lienee, we should welcome the redisfor business tribution of world credit that is now going on. The fundamental cause of past excessive speculation and the ensuing drastic y of credit in this country. smash in stocks was an Paradoxical as it may seem, the high money, rates experienced last summer were really caused by too much credit two years ago. Credit, like an individual, gets into mischief when it hasnt enough real woik to do. We hjive gathered since the war, about Babson Paik, Mass., over-suppl- ' WELLSVILLE " : DEPARTMENT Wells ville Choir Presents Cantata une-ha- lf efdhetolai worlds gold supply, thus affording an enor mous basis for the expansion of bank credit. Legitimate business did not need it all. Consequently it was utilized, in the form of call loans, to boost stock market prices to ridiculously high levels through margin operations. Despite the efforts of the Federal Reserve Board to prevent this situation, they scon found that The Wells-vill- e they had very htt'e control over Wellsville Dec. 21 ward choir presented the it. Human nature riumpned. Ilie Christmas cantata entiled, His surplus credit was utilized In. Natal Day to a large and ap- speculation to such an extent that preciative audience at the Welis-vill- e severe money stringency resulted. on Wednesday Stock market liquidations was the tabernacle The auditorum only way this situation could be evening Dec. 18. was beautifully decorated with a corrected. The violence of tne decline was ' proportionate to the large decorated tree all lighted recklessness of the advance Morey Seated 'on with electric lights. ate y with the the right hand side of the tree rates fell precipif Our was the Madonna and child re liquidation of broKcrs loan? t attracno are rates lo.t Mur Mrs. Kenneth inrey presented by hence On the left hand tive to foreign capital and ray and babe. it is now returning bac- - hsme in was side was Santa. Clause which The laigc volume. a delight to the children. Cantata was under the direction Maintenance of Status of chorister Lamont M. Allen as Quo in Money Rates sisted by Mrs. Anona Maughan I expect this withdrawal of forA full choir of eign balances and a coming period at the organ. Courtesy George Mathew Adams Service. sixty members was present and of gold exports will check the debusiness a dozen years ago. Frankie den (N. J.) Eastern League team, rendered various parts as never cline in interest ates. I expect to won most of his engagements but one of the greatest stars the proThe cantata consisted of see plenty of money for legitimate before. he lost the last one. Peter Jackson, fessional court game ever had. He numbers: ... organ .business purposes U.330.Thosq who tha - following Rudte Unholz, Stflder Kelly and was strickefi In 191? at the helghU Silent Night solo, played by are looking for much lower rates Jack Dougherty were some of the of his career. Mrs. Maughan as the cnoir mem- than at present, however, are likely others. Boxing's list Is a long one, But why go on and on? These bers marched in and took their to be disappointed. Foreign money we regret to say. cases stand out because we, who places; Ring , Bells of Christmas,. attracted here by the highisinterest being. rates of the past year Billiards suffered an irreparable follow sports, knowwhat each man Ring. bassos and choir; and will continue to be withdrawn. Ye The Way, loss with the passing of Bob Canne-fa- accomplished. Every profession Into are anticipated three cushion champion. Bob has been hit equally hard. Medical trio, "Hark! What Means Those Gold exports up- The sharp Bertha' Mrs. quantities. decreasing ... funda Voices, of Heavenly left the Broadway he loved irt an science with the aid and' effort to defeat the disease In the rived from the sale of Christmas Maughan, Mrs. Margaret Bank-- ; waTd movement of sterling other foreign exchanges, indicates Mrs. Mattie and head Darley; but Seals Arizona is of without air but slowly surely getting dry He Shall Be Great, choir; solo we are reaching the gold export success. Then there was Jackie the upper hand. To use an almost In fact, sterling is now quotand chorus, Softly The Night Is point. Do bit." Adams. Basketball fans in the east forgotten slogan, your ed at a premium over dollars, N. and Mrs. C. Maughan Falling, still talk of him. Jackie was cap- Buy Christmas Seals, Mr. Sport as before the stock market cholr;We Come to Worship where tain and star forward of the Cam Fan. Fight tuberculosis. was at a substantial discrash' it and Kenneth Murray Him, O Little Town of count. France is withdrawing gold male voices; produced approximately 11,6 0 0 Bethleham, Mrs. C. N. Maughan balances both from New York and chickens, and 2575 turkeys. While and choir; Sleep Holy Child, by London. German money is also the average number of eggs ship- Mrs. Carolyn Stuart and Kenneth being withdrawn. This export capital is expected to ped per year to the Poultry as- Murray; Hail To The Lords An- movement of some time, eventually sociation alone amounts to 67,000 ointed, by choir; contralto solo, continue for dozen, many more are sold to in- Thou Dldst Leave Thy Throne," bringing the export balance to LIF dividual dealers or used at home. Mrs. Mattie Darley; Hear The some proportions. ' However, there is little cause for The outlook, for the dairy indus- Joy Bells , Ring" by choir with worry over a fairlv sizeable loss of and Darley ' try is indeed bright. Many fine duets by Mrs. Selma Mrs. t . 4 this gold holdings, parcountrys Ileber herds of cows are owned here Mrs. Mattie Darley, in view of the reduced v By Sanke Barson Clarkston was considered a de- made up mostly of Holsteins, and D. Maughan and Mrs. Russel! ticularly demand for funds. The federal resirable place in which to live. are constantly being improved and Stuart; My Soul Doth Magnify serve Clarkston Correspondent banks are able at any time A government survey of the land enlarged. Two milk trucks make the Lord by the choir; - o.gan to government securities purchase was 21 an. Clarkston Dec. Mrs. 1876-7to from The Clarkston 7 Maug. Clarkston, was made in solo, daily trips Rosary, can substitute in pan; which they ' Milk of to the the settled in 1864. In the summer seveven.ng for loses in gold reserves. Also the The remainder Sego Presidelit Brigham Young on his Smithfield selling eral people had been attracted by first visit to Clarkston was favor- -, Products company. The monthly was spent in dancing tb murie money coming to this country from meadow and to the by the Wellsville orchestra. the native hay grass abroad on foreign investments, and impressed and encouraged the check from this company and that winter 15 families made ably wished to. td remain people averages $1,500.00. Large TO PRESENT that our increasing merchandise expeople are sold to CANTATA their home here. here ar.d make a permanent set- quantities of cram port balance, will lend to offset The winter weather was ,very tlement. He also prophesied that other companies and great quanThe Wellsville 2nd ward choir eold withdrawals. Hence, it seems cream milk and butof and tities severe. The snow piled up in great all the foothills would yet produce will present a Christmas cantata likelv that monev rates may be drifts and lasted for more than 4 gram abundently. This year we ter are consumed in the homes. entitled, The Coming of Christ stabilized for a time around premonths.' have produced 147,000 bushels of Our schools have grown from on Monday , evening Dec. 2?, sent figures. On the other hand, That summer 1865 the grain crop grain. Wheat predominating. the 1 room log school house to a in the Second ward recreation extreme ease in rate sis not anfroze but by hunting the sagehens, be ticipated, while this redistribution A matinee will also The poultry . industry has not fine 7 romed modem brick build- hall. prairie .chickens and the few deer attained quite such heights as ing with 168 students enrolled for the children. Chorister of credit is underway. given that made their , homes In the garin raising for production but in Moreover, banks are going to In helping to bring about this Gladys Hill has this in charge hand out credit more conservativemountains the people did very well. the few years that it has been carwe kindly remember assisted at the organ by John change happy ly and are going to inquire more Each year more people came to ried on, on a commercial basis, it the following school teachers atod Christensen. . carefully into the uses to which the try to make homes here, farming has showed remarkable possibilities. RETURNS FROM conditions became better and soon This year the Clarkston district money is put. Nevertheless, the sitContinued on Page Six BRITISH MISSION far better for business Reese Parker, son of Mr. and uation iswas during the past- sumof the than it CITY OF THE CHRISTMAS COUNTRY Mrs. Henry J. Parker time money, was obWellsville Second ward, returned mer when tainable dnlv at 9 per cent or over, home on Friday after laboring in and short-terwere bringthe British mission .'for the past ing 0 per cent orloans more. Now, time He is feeling fine rates are two years. to 5 per at 4 and feels that It was the great- cent and quoted commercial paper est thing which could come into pt, 5 to 5 primeoer cent, revealing one's life and has surely enjoy- the most rapid decline in rates ed his labors in the Bristol con- that hos ever occurred in our finference and also in Scotland. ancial The presidency of the Weils-vil- Return history. of Funds to Eurone ward Relief Society were ur Sbu,d He,! the of the aged people visiting These withdrawals of foreign afternoon ward on Thursday eifts and best banners from New York and the probability of substantial gold ex- wishftofir ah ocrts. pod th higher purchasing m cr,n ncJrto Yr? r., and continental this l?rs tover of sterling exchanges- will be beneficial to our M d What it reaVy means is ttrpnrhipl? Joseph Eurooeans who were using The Second ward M. I. A. put, that FnrDi,ls. funds to speculate or. m 7 3 successful Chnstmaa over a vei 7 nnw uHthdrawing are f,trept, v,all The party on Tuesday evening. utilize in legitimate hall was beautifully ProbabTy enterprise. i 4 $v is7 decorated for the occasion. Pie of mnney loar.sd bv outsiders were balls and popcorn . candy 7 '' in the call money market was of 7 i A program was enjoyed foreign sold. return of this M origin. vV7 ' 1; after which a good time was had money to EurooeThp will increase their In dancing. r--- ' pbil'tv to buy our exports. StimulaM . ?V y? - The - Second - ward - Primary .off- tion r,r of foreign busing cower is one '7 icers and teachers entertained of th most helpful y '.developments the children at a Christmas party for American business. It, means Santa that, Furopeqns will toot have to on Tuesday afternoon. Clause greeted the children and writ until they have floated loans Home of View of from Hie roof of n Working Boj Continued on Page Six Near lia.it Relief mar the Mount uf Ohtca. Conllnyrt on Page Six , ll Eng-fend- SCHOOLS ADD CONSIDERABLE CLARKSTON TO COMMUNITY ! I ! - m 3-- 4p 1- -4 le j ! I i , -- 1 7 I eort. i busi-recreati- on I one-thi- . it 'i, - 'I.1 - Jeni-mln- n o' f , rd |