The Bismarck Tribune Newspaper, March 8, 1926, Page 3

a wa} 1 4 a Ag MONDAY, MARCH ; 1926 N OLD CAPITAL | STOCK TAXIS | ELIMINATED 175,000 Corporations Excused From Payjng Tax Under | the New Law . EDITOR'S NOTE: This is the third | of a series of six articles explaining | how the new tax laws affect all who | pay into the U. 8. treasury. BY GEORGE BRITT (Special Correspondent) Washington, March 8—The new revenue act will relieve about 175,000 | FD corporations from paying federal in- | come tax. This is the estimate of congres- | sional statis ns, taking into con- sideration the provision of the new law that if a corporation produces nd ‘het income it does not have to pay | The old capital stock tax, | which applied to every corporation, is wiped out. hose corporations which pay in- come taxes, however, will pay ap- ely the same to the govern- ment this year as before. Their s ing wilt not be in money but ‘in trouble And controversy over making | their return: The authors of the decided that the stockholders corporations would profit materially individuals from reductions of ncome taxes, and that thei business org: ations should con- aey to bear their burdens as be- ‘ore, Leniency to Persons Because of the law's comparative leniency toward persons, it is ex- pected that a good many corporations | may dissolve and reorganize as part- nerships. These will be the ones with small profits and limited num- ber of stockholders. Such reorgan- ization usually can be made simply jd wil produce a worthwhile reduc- tion in tax payments. Banks, of course, cannot so avoid the corpora- tion tax. For the lust five years the corpora- tion income tax has been per cent on net income. There was additional corporation tax of $1 per , 31000 of capital stock. The capital stock tax is abolished, * ettent e for the new fiscal year be- ginning July 1, next. To make up for the resulting deficiency in revenue, | ee income tax will be increased to per cent. However, the corpor- ii n incgme tax for the present cal- endar ydéar ix increased only to per this amount is to be paid on the come of the calendar The smaller rate of i for this year is intended di- te ctly to avoid double taxation, since the repealed: capital stock tax is i effect for half of the year. General Exemption in There is a general exemption the new law, as before, of $2000 come not subject to tax. Insu: sompanies under the former law were exempted from the capital stock tax. To preserve the balance in their fa- vor, the new act continues the rate of 121% per cent for them, without ) applying the increased (rate. ‘The corporation income tax last year produced revenue of about $900,- 000,000. The capital stock tax was estimated to produce $93,000,000, and this annual amount is expected to be brought in by the additional 1 per cent put on the income tax rate. Not only does the new revenue act favor corporations which have been showing up “in the red” on their year's accounts, but it confers a great advantage of practicality and jcon- venience in its application to profit- making concerns. Figuring the eap- ital stock value required estimates of the value of goad will and other intangibles over which there could be lengthy disputes delays und ex- »wensive settlements. The corpora- tions now. have to make only a single return, instead of two. & Refasal of Cuts The retention of comparatively high tax rates for corporations is a denial of numerous requests and pe- titions. Banks. in particular, and manufacturing companies besought a reduction. Corporation income taxes have received slashing reductions since the war, however, which were considered as ‘bulancing the lack of present relief. Following the adoption of the in- come tax amendment in 1913, Con- gress in that year imposed a'1 per cent corporation income tax. In 1916} »dt was raised to 2 per cént. During the war the normal income tax was made 12 per cent and a,surtax or ex- cess profits tux was imposed with maximum, brackets of 80 per cent. Promptly upon the close of the war the excess profits tax was cut te a maximum of 40 per cent, and in 1921 the normal rate of 12% per cent with -no surtax was set to remain in ef- fect until the present, TOMORROW: \ T Three Cheers by the Heirs, ——_____—— + TODAY | ° {Continued from page one) + fluent! does Italian, says his campaign will be un balloon d’essai for Governor Al Smith's Presidential | campaign. The theory is that Ili nois’ great demonstration for Bren-| nan will convince demoncratic dele-| gates that Brennan’s friend, Gover- nor Smith, would sweep the country.) Wall Street flurries don't hurt bi wople or big institutions im the idt of the finaneial hysterics New York's National City Bank bought the People’s Trust Company, paying more than 16 ‘millions for it, and now -has resources of more than 1200; millions. | Owners of the $825/a shhre-for ly coi ‘rust Company got | ‘k that original-; 00, 30 everybody is happy. | ‘As for little lambs, swept over-| board by the bear raid, they will go} to work now, and Derhaps that will | be better for them. Stock gambling | iS nervous work, not meant for every- | body, und it.adds-nothing to mal wealth, | Spring Carnival Dance} given ‘by Knights of Pythias ‘and Pythian” Sisters at the ‘0.'U. W. Hall tonight. Two of Kentucky’s most beautiful -girls will represent that state at} the Stone Mo ' ‘. ’ is a descendant of ; eee | veteran and are has rked to make ‘| ade almost certainly Girls Quartet { the great memorial project a succe: he large p! during the just ahead.” . i . { Lela Mae Stiles of Elizabethtown and the inset shows Mis |" The. “tremendous industrial trans-}. Mid - Atlantic Is Sings KF or Lions; Bradley of Stearns. action which, he kept pace a * a i __|with the chan agricutturer he Landed in England) 4). ich scnoor girs qu described, mentioning deveiopment of ee numbers 9 packing plants, sugar beet factories Viymouth, England, Mareh 8, (®) ions club lune jand the The crew of the schooner General Pacific hotel. The selec | he 2a RE ad Smut rescued in the Atlantic af TO ASSESSORS REGARDING INSURANCE | First AuTo oe a meme T 10 F MERS SHOW CALLED ert fo ,, | How Skinny Kids Gains well except the cook, | aye. j NTER | x mw, who was removed to! Weight and Strength LAW ARE OF INTEREST TO FAR BIG SUCCESS 2" ej,.300"s.,guayrhte| Weight ar g (ORR Par RPE jon and the) Everyone knows that Cod Liver Oil | ecInE RR ands are tax exempt, but parties (Continued: from -page o6e) is full of vitamines, is a flesh build- the state tment to cooper-| farming such land may get state hail] & result tho total paid “admissions i eaiehe icon where: Fekal fe ind ing assessors through-| insurance on their crops by making| Saturday fell somewhat short o eriences to the lots are suspected it even helps to pee ae The proper handling| application to the hail department| those of the two previous days, but Captain Charles tiuiid up, the bones and. strengthen HE eee anatate late considering the weather the dealets aL Smuts, said his [Pull up u : of their work with regard to the state | dir isappointed. hovner could not have kept afl ee ad! i il insurance law. Instructions be-| “Blue copy oférop-listing — blank cate PEM eaehcucalongee Whcathecan ues But let us all be glad! the poor, hail Anpurane: law ee diculdwe ie WR the nade, the 1 paid admissions for the thrge) 24 hours longer witen he’and his crew sly, punyslae. donee Sore are of interest to every farm-| two white copies returned to the au- ogo one, taken, oft vile, nasty oil itself | county auditors were asked| ditor, Crop-listing books should be} eee dy conan any for thar en Z at spring con nees,| returned to the auditor by June 1 hinaday, ‘ge9| Tasos Shee antic, and received. a [CONS Cod Liver Oil Compound 1 that, the assessors understand etn ae Melee Leesa ecg matte t) | Seer leben inne Ship when thet have taken its place, so that the wor! y be done with-) depa let ‘ Total three days 4 050; Prot be a : iariaeitce Myer out ‘mistake. Should Leave Blanks — ' sides the paid admissions it isthe furicus F Ehare ea eens and ‘ hee The instructions follow: | | ||| "Assessors should leave notice of] estimated that! there were approxi] ae 5 a liiayee vauy be Wore, Nuntne aeneet “It is the duty of the ssors LO! Joss t insurance) mately 500 dealers’ passes issued/ Too Late To Classify CTO eae ae Sari aac list all the tillable lands im their re-) planks rks furnish-| bringing, the total attendance at te} - Raa ae het svou spective townships and districts ed him for sue purposes with every) show to more than fon Satboomimeteio Singer ssewine lo. ee ; ject to the flat tax of one per re listed. It will” The machines on display at thef? OK PAL’ Electric, Singers ponent the Wc setuid nere. Assessors must also list for! fe iated by the depart-| tabernacle during the show. were! College: UL be are: And peb MBGoy kh ther y all cropped lands er) pent ion would be given) removed by the dealers yesterday to z Acie ie cae abate d « cropend this se-/ to every that, in case he has| their garages, and several locai dis-| por SALE Smith iginal and genuine. Adv tae te Fes delat o Sure ee leis, Se te bach rae nal -" pom sere ine pena week in he ondition, $2 ja is for bs J By rate 0 otice 0 Loss to aration for e andan automobile te but it is not compulsory to keep such | martment ow! slow, which’ will be held Friday and insurance as anyone may file a 4 nar Sai pull ack owleuiee |e 4 davit of withdrawal prior to June} affidavits of withdrawal; that ia init tabernacle, which wav erected yea \s against the law. 1 ast fall to house the huge crowds be ee 2 Land Must Be Listed . “In case owner or tenant is sb-| which gathered to hear Evangelist A om sheep-lined cout. | There re . hat rn payee ne to list) Harry James and which was selec all at Capital Cafe, 508 Bdwy THEATRE Boamore os well) ahopare unas s it as} for the auto show because of ils s B-8-1t | - impression that it is not neces: correctly as isp j the| will be torn down ; see | to list the land if they do not SIESUniataneen is alwaya| cording to Rey, C eae “i to keep the roneous. lands intended listed for hail No correction made after Jun “It is very ii sesso: extent of the ¢ the a ee the farmers ar parties have bi hail indemnity. no right to pa: not listed acco “Lands withi of uny incorpo town, should not be insurance as\such lands are exempt. “Homestead Indian lands and lands leased from the state should not be Mes as such OUT OUR WAY THEY REPRESENT KENTUCKY insur All the cropped lands a mark‘on the diagram on the crop-listing blanks the location and on the di spond with acreage given in the ped land column on the blan account of negligence or oversight of fe BULL 6 TH' WOODS PUT ME ON TH REPAIR GANG T'DAY TERRIBLE O1RT JOB ~AN'1L DIDNT GET “IME -T' WASH BEFORE THE BISMARCK TRIBUNE TO CREDIT MEN; Predicts Amazing isda! of Diversified Farming in Five Years Duluth, Minn., March 8. “During the next five years we are |sure to witness a positively amazing expansion of a kota agricultural college of Fargo, told the eleventh annual northwest |conference of credit men here this morning. “The changes of the last two years Jare only a small evidence of the tr mendous development which we may expect during the coming four or five yen It is a very great pleasure to get new evidence from time to time that the banke onal men are more and more ossible if the jculture in every way , northwest is to prosps } During 192 | Coulter said, ! organi jareas from very poor crops, but suf- |fered tremendously from the defla- tion which brought the level of prices {of farm products down to a pre-war basis, whereas wages and most other iproducts did not ‘suffer proporti During 1923, 1924 and 1925 a !tremendous amount of progress has |becn made.” He discussed at some Hlength the growth of diversified ‘farming, and its results in increased | profits. “The net result of the reorganiza- jtion which has been taking place, and 23, ulture, being un- & jover the corresponding figure for and 1923. The progress which mers have made during she recent past is only a suggestion of tli going forward and untain Memorial Ball in Atlanta, Ga., March 17, Each This is er nee, somebody who can give information! to how much is to be cropped for the local mirtisters d erection. {t had at first been to be cropped must be| the season, and, as to the tillable! planned to let the building stand un- insurance br June 1,| tand, the a asily find out) til later in the spring when another of listing may be] by carefully viewing the land. alimeatiaes;wevento.te ne 9. *| ““As soon as all lands are listed the! held, but this plan has been. aban. mportant that the as sessors should ask their respective} ditors to make out their bill doned. such work; these to be app CUT THIS our ropped lands, and that] the audito before submi IT'IS WORTH MO: c ram the Send this ad and ten cents to Foley & Co., 2835 Sheffield Ave., Chi ago, Ill, writing your name and address clearly. You will receive a ten cent bottle of FOLEY'S HONEY AND TAR COMPOUND for coughs, colds hoarseness, also free sample ate Hail Departmeht.” Great Northern Buys Oil-Electric Engine St. nd as ors several een deprived of thei The department ha: y for losses on lands Paul, Minn., March 8.—(#)— rding to law. _ {Purchase of an oil-electric locomo-| tic stimulant for the kidneys, and in the platted portion | tive by the Great Northern railroad| FOLEY CATHARTIC TABLETS for rated city, village, or|has been authorized by Ralph Budd,| Constipation and Biliousness. ‘These listed for hail] president. This type of engine is still in the experimental stage. The locomotive which will cost ap- proximately $100,000, will be used for switching in the St. Paul yards, 4 wonderful remedies have helped mil- lions of people, Try them!—Adv. lands, not proved up, More than 165,000 divorces were granted in the United States in 1923. V2: GOOD HEAUINS ! COMING HOME LIKE FRAT! AND LICKING MouR LIPS! MUST TASTE GOOD! YOU \WOULDNT NEED YO WASH IF YOUR, TONGUE WAS cE HEE POP LOOKS TH WHISTLE BLEW. ; UKE A COULTER TALKS 2 I balanced s¥stem | of diversified agriculture,” John Lee ; | Coulter; president of the North Da- business and pro-} Mr. d, not only suffered in many} kages of FOLEY PILLS, a diure-|! LONGER ! MINSTRIL! Kduets i the two years, 1924 and 125, ernor for a ! h jat least fifty million dollars a year ry Moore of New ss cripple, received treatment the background are Tommy's the governor Crew Rescued in counter man St , close in, also Edison for sate, first. class i tion, Call at Second St. or Phone 544W. Bes- bw Tanlac builds strong bodies *Before taking fanlacl wasaner: ous wreck. Stom ach pains rae me awake nights. | noyed me. A friend : recommended Tan- dac; it put me on my Am 69, feel ** Mrs. 8. Spen- | cer, 2109 22dAv.S. Minnecpolis, Minn. | The nothing like Tanlac to} purify the blood, put the stomach } and liver in working order and build | up a run-down body. Millions of men been. benefited and builder ti the shane nd women have this gr pound formula hy uy a bottle of Tani your drug store toda you start to improve r first, Take Tanlac V for constipation. table Pills Ady BISMARCK SHOE HOSPITAL Henry Burman, Prop. Shoe Repairing. Special Attention . Given to Parcel Post: Orders. No. Dak, Bismarck, DR. R. S. ENGE Chiropractor Consulation Free Blk. Bismarck, N. D. OLDSMOBILE SALES AND SERVICE ~ DAKOTA AUTO SALES CO. ‘Main St. «Phone 428) A PAIR OF PAL w to it that Tommy, a suppose lly { mother | | BL cluding article of a series of five on typhoid fever. which 'S NOTE: BY DR. HUGH 8. ING suspicious milk, and keep it cold. | Surgeon General, U, 8. Pablte Health | _5--Measures to prevent infection Service of food by iles. The control of typhoid fever d on the follo ving mea- chiefly o! is either safe from human | Remember alw. that an ins | pollution, or which is made safe by | finitesimal, a ‘oscopic amount of mechanical und chemical means | discharge from a typhoid patient on | boil all suspicious water s fingers is suff ick an id control of typho MEASURES FIGHTING TYPHOID FEVER disposal sures PAGE THREE USED _IN TO BE This ist con- | ticularly they should not be ullowed to work on dairy farms or whert food is handled, . 4- Safe milk boil or pastearize all nti-typhoid inoculation of the individual, Great care must be taken handling the soiled linen and other articles of clothing used by the pa tient, especially by those who laun- der them. of human fa water supply t the i the re oid carrier bed- ¢ fingers ar in the mouth or before they handle food, y Waggoner, “to have a gov- | own chatting with Governor A. that enabled him to walk. Inj nd Major William Higgins of | 's staff 3-DAYS-3 Commencing Tonight Monday, March 8th, WM. S. HART —in— “TUMBLE- WEEDS” BIG IN ACTION BIG IN THRILLS In every way the biggest . picture William S.” Hart ever made. A realistic romance of the west by. a man who knows the west, knows its ways and its people. A heart story of the greatest land rush’ in history as thousands stampede for home sites in the famous Cherokee! land strip. E “HISTORY TOLD IN HEART THROBS : First perfor! atts at fone ns were “In the Land of the Sky|ninety-sixth birth here h Eyes are Smii-| afternoon. Mrs. Beck is in good ." The quartet is| health and received visitors during composed of Isa le Zeamer, Doro- | the day. Callahan, Leathers and Ra- = Boepple. MANY ATTE The attendance prize was aw to Dr. F. B. Strauss. G. C hilitn-“solnevM00: people from | Was appointed chairman of a com-/ the attended the meeting con- mittee to arrange for attendance at) ducted Thursday afternoon at the the Winnipex convention of Lions Liberty theatre by Dr. W. J. Spill- clubs on June Hand 1 man and Rex E, Willard, agricultural J. Ma n of Toledo, Ohio, was a experts. guest. ~ o a Stainless steel is the invention of ee EBRATES 96TH BIRTHDAY a shburn—Mrs. of Washburn Just received Shoe has z good value More tha to the makin; WEBB BROTHERS very broad toe and a soft toe cap. Sunday D SPmLL MAN heffield worker who happened upon it while studying the effec explosions on gun , Sarah Elizabeth celebrated her i a new Black Oxford for little gents. This A very $3.95 Also a new Tan Oxford in es 2Y, to 6. n average attention and study are given g and fitting of Webb Brothers’ footw: lerchandise of Why Be Like Others? Distinction in dress Depends upon distinction in patterris. Our Spring Suits f are different— in tailoring, style and especially in pattern! $29.50 — $45.00