The Bismarck Tribune Newspaper, May 19, 1932, Page 2

THE BISMARCH TRIBUNE, THURSDAY, MAY 19, 1982 2 WARNING AGAINST | HY'STERIA SOUNDED: Acker Tells Auditors Not to Be- come Desperate in Hand- | ling Public Affairs A warning against a “manifestation of hysteria or desperation” in ad- governmental needs to pres- ent conditions was sounded by Iver) ‘A. Acker, state tax commissioner, in| an address before the state conven- tion of North Dakota county audi-| tors here Wednesday. | Thursday and fled in an automobile jstolen last night in St. Paul, 40 miles Three Bandits Rob Welch, Minn., Bank Welch, Minn., May 19.—(?}—Thre> men robbed the Farmers State bank of approximately $2,000 in casi ‘SHOW STOCK POOL | MADE BIG PROFIT IN SHORT PERIOD, | Nearly $5,000,000 Realized in| Week by Raskob, Schwab away. The bandits abandoned the car a short way out and entered! another. DRIVER OF GUN-LADEN AUTO IS CAPTURED South St. Paul, Minn., May 19.—(4:| —The driver of a gun-laden automo- | and Others bile which crashed into a telephone pole was captured here Thursday. Police believed the wrecked car was! Washington, May 19.—(#)—How {John J. Raskob and other prominent | persons profited $4,924,078 from a used in the getaway of three bandits who looted a Welch, Minn., bank. Thres Appointment of committees, ad-| @resses by Acker and S. A. Olsness, state commissioner of insurance, oc-| cupied the auditors at the afternoon | session. The convention opened} Wednesday and will continue through | Friday. | In a period of declining earnings,! with no outlook for immediate im- provement, Acker said, retrenchment} of public expenditures is the only an- swer to the imperative demand for tax reduction. 1 “If we are spending more for high-| ways, schools and other government| activities than we can afford.” he} continued, “we will simply have to! curtail such activities until times! have changed and economic condi-} tions improve and become stabilized | on a more prosperous basis. | “We cannot, however, intelligentl: adjust our governmental needs the conditions that confront us by a manifestation of hysteria or des-| peration. Taxpayers, in cooperation; with taxing officials, must, in their} tax-reducing proce: e the prun-/ ing knife—not the o | Progress Since 1923 Much progress in the direction of! sound public finance has been made| in North Dakota since 1923, Acker} said. “North Dakota public securitie: have found a ready market at favor-| able rates, and public obligations have | been promptly and adequately met. The 1923 cash basis law has in most eases enabled counties and munici- palities to remain on a paying basis. | The North Dakota bond law, espe- cially since the addition of the se- rial feature provided in 1931, is a} model statute. In spite of adverse; economic conditions the credit of our| state and its municipal subdivisions | has not been impaired. We have rea- | son to be proud of such record. It} is a record that we should strive to! ‘500 tariff rates to consider.” {week's pool operations on new radio stock in March, 1929, was related Thursday in the senate’s investiga-| tion of the stock market. The investment which brought in | almost $5,000,000 in that short time | was placed at $12,683,000. Those listed by William A. Gray, BEGINS IN SENATE couse for the inquiry, as culled handsome returns along with {the chairman of the Democratic na- tional committee, included: (Py .. Percy A. Rockefeller, Charles M. Washington, May 19.—()—OPP0-' cciwab, Walter P, Chrysler, Mrs. M. nents of the oil tariff warned the a, Meehan, H. B. Swope, Mrs, David ate Thursday that if the revenue bill’ Sarnoff, Ww. C. Durant, T. F. Mara, is to be opened to the oil, coal, copper J. ue yar gone Lierwa = ne Jen 9 ve 18 Fisher, William A. Fisher, A. J. Fish- and lumber duties a move is in order, or, E. F. Fisher and Charles T. Fisher. for complete tariff revision involvinr |”"‘pestimony also was introduced that months of work. | persons who put up no money for the Senator Norris (Rep., Neb.), said he, pool shared in the returns, among had appeals for tariff relief from them J. P. Tumulty, secretary to the ‘ {late President Wilson, and Eddie hundreds but he had opposed action! Howling, the actor. because he didn’t think the import! Senator Glass, (Dem., Va.), called duty belonged in the revenue bill. jit the same “as gambling at a card “But,” he said, “if we are going in- | table with a card up the sleeve.” to it, let's go to work. There may be! The pool operated through three | firms, Meehan and Co., W. E. Hutton and Block Maloney and Co. In the seven days, Gray said, 1,- shotguns and rifles were in the ca Two other occupants of the car fled.! FIGHT ON TARIFF Opening the opposition to the oil having },, Md.), told the senate he was going to offer several tariff amendments un- less the advocates of the oil, coat, copper and lumber duties withdrew their proposals. He advocated a reduction in the aluminum duty. Tydings said he was “ready to strik> out every tariff item in this bill and pass it this week.” “But,” he added, “if there is going to be a tariff bill my state 1s going to have its say as every other state in this union.” Senator Fess, of Ohio, chairman of joined the opposition to inclusion of maintain.” ‘Taxpayers’ associations, Acker add-j; ed, are in a position to give the peo- | ple of the state “a splendid service) by functioning as fact-finding com-; mittees, analyzing proposed budgets | and submitting recommendations to tax-levying boards in accordance with the tariff items in the revenue bill. Big German Airliner Is on Way Back Home New York, May 19—(4)—The Ger- man airliner DO-X, its great motors import tax, Senator Tydings (Dem..| the Republican national committee.! their. findings, and especially by |roaring in the silence of Long Island staunchly supporting officials against |Sound, took off at 4:05 o'clock (EST) the insistent demands of militant in-!Thursday morning for Harbor Grace, ' 493,400 shares were bought for $141,- laa He described the radio stock movement as having gone from 77% jon March 5 to a high of 109% on March 16. The pool began March 12 jand closed out between March 18 and | 20. | Raskob was listed as having put up ' $1,000,000 and profited $221,000, while | Schwab invested $200,000 and made | $58,000. Lemke Retained to | Fight Court Action Jamestown, N. D., May 19.—(?)—} | William Lemke, Fargo, has been re- tained by the North Dakota Farmers; Union to represent it in the state supreme court Friday in an action’ attacking a proposed initiated meas- ure for a partial five-year morator- ium on debts, E. E. Greene, secretary of ihe Farmers Union, announced ; Thursday. Use the Want Ads dividuals or groups seeking appro- priations fof particular projects or} particular activities.” Taxpayers, he said, must be edu-/ eated to understand that some of} the largest governmental expenditures are caused by activities which are comparatively new and which were unthought of 20 or 30 years ago. Refutes Popular Belief The burden of the general property| tax in North Dakota, Acker said, has} not increased since 1922, and the gen- eral property tax burden for state} purposes has materially decreased. In 1918, he said, the total of all property taxes levied, state and lo- ca, was $20,314,443. In 1919 this total had increased to $28,322,608, an in- crease of approximately $8,000,000 in one year. The state general property | tax levy increased 112 per cent, from; $1,766,046, to $3,742,616, in one year. From 1921 to 1924, inclusive, the state levy was over $4,000,000, the high! point being attained in 1922 with a levy of $4,765,284. | “The increase in state taxes after| 1918 was due, in part, to a program of new activities embarked upon by the state, to increased costs of sup- Plies, labor and materials, to some extent to salary increases, and espe- | cially due to a statutory levy for sol-| diers’ bonus and a state memorial | building,” Acker told the auditors. | “Lowering the taxable valuation of ; property will not, except as a limita- tion on the amount which may be levied, have the effect of reducing property taxes,” he said. | “Reducing assessed valuation of all property a certain percentage will not | affect a property owner's tax burden! unless expenditures are reduced in the same proportion. It is apparent, however, that a part of the tax bur- den is shifted whenever the assessed valuation of a certain class of prop-| erty is raised or lowered. j “Of course, reducing the taxable valuation of property has the effect | of limiting the amount of money that} may be levied for various govern-/ mental purposes provided the mill | levies permitted by law remain un-| changed.” | GODDARD IS SPEAKER AT MEETING OF CLUB Says Freight Rate Increases Inimical to Best Interests | of State Proposed rate increases on freight shipments into and out of North Da- kota would work to the disadvantage of the producers of the state, H. P. Goddard, secretary of the association of commerce, said in an address be- fore the Cosmopolitan club Thursday. Under rate schedules now being considered by the railroads, substan- tial increases would be placed on pro- joverhauled since its arrival in New jhome port, which she left in Novem- \Corbett Appointed N. F., on the first lap on its return trip to Germa The airliner. was heavily Wednesday for its long flight. crew of 14 was aboard. The DO-X had been loaded A Ce BISMARCK Pinenatisshond | | New Nicola Blig., Corner Broadway | Fifth Street | | The School that Gets Positions for its Graduates Specializes in training young men | and women for the better Steno- graphic, Secretarial, Bookkeeping and Junior Accounting positions. Stu- | dents enter at any time. Reasonable tuition. Cool, pleasant quarters. For particulars, write G.M. LANGUM, } Bismarck, N. Dak. thoroughly York last August 27. She is bound for Lake Constance, Switzerland, her ber, 1930. Plans are to remain in Newfoundland until weather is fav- orable for the Atlantic flight. To Head Commission | V. A. Corbett, Minot, was named acting chairman of the North Dakota governmental — surve: commission, meeting here Thursday. He will act as head of the group during the ill- ness of Lieutenant Governor John W. 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WARD’S 60th ANNIVERSARY SUMMER SAL Now in progress—Ward’s great Summer Sale. Ten million families are buying new summertime things in 500 Ward stores at the lowest prices in a generation. This is one of the greatest merchandise events in the world. Months are spent in preparation. Hundreds of the most dependable factories in the world cooperate. Every item is checked by a merchandise committee. Only merchandise that is timely, that is good quality, that represents a genuine saving is selected. Savings on many items are as high as one-third. Come—save. Only Ward’s Summer Sale Can Offer Such a Value! 2-PIECE SUITE $698 Here is one of the most remarkable values in living room furniture you have ever seen. A big luxuri- $5.00 Down an ous davenport and a large man-size chair. Upholstered in rich angora mohair with fashionable re- $7 Monthly versible cushions. Frame is beautifully carved. Inner construction made to our own specifications. Small Carrying Only at Ward’s can you get such beauty, such comfort, such construction and such a low price. Charge Bed Pillows! Easily Worth $1.19 each 88c Chenille Rugs Choice of Gay Colors! T7c Riverside e Filled with For bedrooms ate Prices sean NOUN | Seal 3 Le Orchid or facnhgs Sar C t i a) green ticking. gains. bad 8th Riverside Reduction In 1929, it would have cost vou $3 in 4 Years! C Another Riverside triumph! First came cane. Ny, six smashing reductions leading the field | 29x5.00-19.. ning of quality tires. -Then came a new low | 3;x5'95-01 price for 6 ply tires—the 6 ply Riverside | 29x5.50-19.. 6 Ft. Wide! Mate at 4 ply prices. Now comes the | 3!x6.00-19 For $1.50 you can cover a EIGHTH reduction—even lower River- ea osrt roca eribhy seteingiepet ° Ward-O-Leum! Ward-0-Leum Rugs Waterproof, Wherever you go this Summer You'll want several pairs of White Footwear Cut 3 Prices Even ‘REE TIRE MOUNTING AT ALL WARD STORES UNLIMITED GUARANTEE side Mate prices on most 6 ply and ALL 4 ply sizes—and every Riverside quality tradition is upheld. Made by one of the world’s largest tire companies. Camp Stoves $4.48 in 1929—Now $279 Gasoline stoves; t wo ie $2.85 Smart One Straps and burners! In- ie merece & Bitten | > guack de dea Spark Ploge— 0 oe s — ydraulic Cha ant, Men B AK: he frardenca steel | fet outa: | tates soo0-in. | Spark” Plugs! Pumps for Only andy @ a : a ake your mo- aS: bhuck. 3 sharp car with fing: : pines enced: ‘ bits includtd. ertip pressure. like mews 2-Burner Oven $3.15 in 1929—Now $198 Large size, bakes and $198 Choose white with black for sport wear—white with reptile for dress—and white with perfora- tions for street. Well made of Z : Top Dresnii roasts like the Sayer. Pint can. 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