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Newspaper Page Text
that it was safe as long as its ships
patrolled the channel.
That a naval defeat would leave
the islands defenseless against inva
sion is regarded as a.strong probabil
ity should Belgium amKFrance fail
to. stay the onslaught of Teuton sol
diers. THE ROSEN WALD TAX MESS
Roy 0. West, chairman of board of
review, came out flatfooted against
placing a full cash value assessment
on the 147,701 shares of Sears-Roebuck
stock held by Julius Rosenwald.
Hayden Bell, assistant state's at
torney, argued for an assessment at
70 per cent of full value or $17,500,
000. The board took the matter un
West argued with Bell that the
value of the capital stock depends on
the genius and managerial ability of
Julius Rosenwald and said:
''What would the stock be worth
after Mr. Rosenwald had sold it and
withdrawn his personality from the
business? This tax proposed would
be a tax on genius and I, for one, am
not ready to make such an assess
ment" Bell argued that the Standard Oil
Co. would escape taxation if its as
sessments were viewed in this way.
Sydney Adler, the Rosenwald at
torney, said his client's taxes last
year amounted to $44,000 .on $2,510,-000.
NEW MOVE IN ARSON CASES
Ass't State's Att'y Frank Johnson,
acting for the state in the arson cases
now pending against Nathan Spira,
D. L. Felsenthal and M. L. Fox, de
clares that before the cases are fin
ished he will prove a close relation
ship between M. L. Fox in the arson
case and Charles Fox, cashier of the
defunct LaSalle Street Bank.
He declares that the purpose of
the attempted bribing of Mathew
Blondell was to protect Fox and not
Spira, who did the bribing. Spira Is
now under an appealed 20-year sen
tence on an arson charge and it
would avail him little to have Blon
dell, the adjuster, testify ralsely.
PEACE IN MEXICO
Washington, Aug. 11. Reports
from Mexico today were reassuring
in the extreme, Secretary of State
Bryan said today, and encouraged
him to believe a peaceful agreement
would be reached between Carbajal
Mexico City. The departure of
President Carbajal for Vera Cruz, the
dissolution of congress and the ar
rival on the outskirts of the capital
of the constitutionalist forces of Gen.
Obregon, who are expected to enter
the city in orderly manner, are im
minent developments. .
Americans and other nationals here
feel assured that the constitutional
ists' entrance will be without disor
der, duplicating in many respects the
entrance of Francisco Madero four
o o 't
Prospective Purchaser How far
can this car run on a gallon of gas?
Demonstrator Oh, about forty
P. P. That's unusual, isn't it?
Demonstrator Not when you're
tryingto sell a car.