The Carbon County news. [volume], July 16, 1925, Page PAGE EIGHT, Image 8

About The Carbon County news. [volume] (Red Lodge, Mont.) 1924-1931

Image provided by: Montana Historical Society; Helena, MT

                
SECRETARY LIKES THE RODEO
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In the West he's "Bill." But In official Washington he'* William Marion
Jardine, secretary of agriculture, a member of President Coolldge's official
"family." Secretary Jardine has been Invited to attend the Chicago Roundup
and World s Championship Rodeo, to be held for nine days, beginning August
IS. Those who know him say that he will be on hand for this greatest of
all cowboy contests, as Secretary Jardine has not lost the spirit of the
West where, years ago, he rode the range and punched cattle with the best
•f them.
Back In Idaho they like to tell how the secretary of agriculture busted
bronchos and threw a rope. They're proud of their "Bill" and they're willing
to wager that he could ride Into the nrena at the Chicago Rodeo and make
gome of the expert cowhands hustle for honors. The competitions will be
held under the direction of Tex Austin for the
orld's championship titles,
belts and trophies and $30.000, the largest cash purses paid auywhere.
W
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KEEP YOUR VACATION
IN KODAK PICTURES
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You don't spend your vacation you save it—if you
KODAK.
We have a wide range of Kodaks, $6.60 up, Brownies,
$2.00 up, and Kodak accessories—everything for the camerist.
You'll want extra rolls of Kodak Film—the
dependable Yellow Box brand. We have
your size.
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MODEL DRUG COMPANY
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The Rexall Store
Red Lodge
Montana
GOOD BUSINESS
Demands
GOOD FIRE INSURANCE
Let us do it for you
0. J. SIMMONS
Representing
Home Fire Insurance Co.
Springfield Fire & Marine
Insurance Co.
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ARE YOU GOING CAMPING?
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We Have a Full Line of
Camping Equipment
Fishing Tackle
Sporting Goods
Tents and Canvas Goods
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Mery Hardware Co.
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SHERIFF* SALE
Agnes Brown, Plaintiff against Roy
P. Cook, a single man, Ole C. Wogan
■ and John Rogers, Inc. a corporation,
Defendant.
To be sold at Sheriff's Sale on the
8 th day of August, 1926, at one o'clock
p. m., at the front door of the rt,urt
House in the city of Red Lodge, Mon
tana, all the following described real
property, to-wit: situated in the Coun
I ty of Carbon, State of Montana, and
described as follows: The Southeast
Quarter of the Northeast Quarter
(SEV.NE',4) and the Northeast Quar
ter of the Southeast Quarter (NEVA
SE V« ) of Section Twenty-six (26);
the North Half of the Southwest
Quarter (N%SW(4) and the South
west Quarter of the Southwest Quar
ter (SWVi SW l ,i ) of Section Twenty
five (25) in Township Five (5) South,
Range Twenty-one (21) East, of the
Montana Principal Meridian, and con
taining 200 acres, more or less. Also
all water, water rights and appropria
tions, ditches, dams, aqueducts and
reservoirs, and all other rights and
privileges, licenses and franchises used
,
* n connection with the above described
premises; together with the tenements,
hereditaments and appurtenances
thereunto belonging or in any wise
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appertaining.
Dated at Red Lodge, Montana this
• 16th day of July, 1925.
1
JOHN ALBERT,
Sheriff.
Frank P. Whicher, Attorney for the
Plaintiff
First Publication, July, 16, 1925.
Second publication, July, 23, 1925.
Third publication Aug. 6 , 1925.
Fourth publication, Aug. 13, 1925.
ON MERIT
(Continued from first page)
"real" congresswoman. She was forced
to make a real fight for election. She
made many political speeches and sur
prised all by her grasp of national
questions and the workings of con
gress. Sentiment was forgotten and
she rolled up votes on merit—enough
to win handsomely.
It is true that of the seven women
elected to congress since the inaug
uration of equal right, not one has in
any w'ay distinguished herself. How
ever, woman has shown herself an apt
pupil and recent elections indicate
that she has arrived—to make good.
The seven women elected to con
gress :
Alice Robertaon—Oklahoma—reg
ularly elected.
Jeanette Rankin, Montana—regu
,larly elected.
Winifred Mason Buck, Illinois,
father's term.
Mae Nolan, California—husband's
term.
Mary T. Norton, New Jersey—reg
ularly elected.
Florence Prag Kahn, California—
husband's term.
Edith Nourse Rogers, Massachus
sets —husband's term.
INCREASED LEVIES
(Continued from page 1 )
The bond for D. W. Columbus as city
tax collector was submitted, approved
and filed.
The matter of installing electric
lights in what is known as "Little
Italy" was referred to the city and
lighting committee for investigation
and report.
It was also approved that the lic
ense fee from the Montana Amuse
ment Company, which is being put on
under the auspices of the baseball
sociation, be donated to the baseball
association.
as
DEATH TAXES AS
BUSINESS KILLERS
Assistant Treasury Secretary
Tells Fable of Fate of Two
Successful Men.
Men cannot be expected to continue
to work, day after day. increasing the
productiveness of this country and
benefiting others. If they know that
on death the major portion of their
earnings win bo dissipated In Federal
estate and state Inheritance taxes, de
clares Charles S. Dewey, Assistant
Secretary of the Treasury. In the
American Bankers Association Jour
nal. He says:
"I ara going to relate a fable In
terras of modern business condltions.
lohn Henry and Walter Brown were
aggressive, hard-working men, anu
each had started business for himself
"At the time this history opens.
John Henry had Just died, leaving his
entire estate to his son, John Henry.
Jr., and had appointed his old friend.
Walter Brown, as executor. Prior to
his death John Henry had moved to
California, leaving his business In the
hands of his son under whom It had
continued to make excellent headway
The father had been doing a little
speculating In oil. This venture had
not proved successful and he was In
debted in the sum of 1500,000.
"Executor Walter' Brown, on exami
nation of the estate, found the follow
ing situation:
Capital stock (if Henry A Co.,
Inc., a Michigan .'Corin' .
Personal debts due hanks
"Walter Brown soon made the un
pleasant discovery that In addition -to
the personal Indebtedness of »500,000.
and administration expenses of »250,
000 , the following death duties must
be paid;
Federal estate tax .
California Inheritance tax
Michigan Inheritance tax
Total .
ts.nofl neu
Bne.o'in
1497.Rfn
595.700
122.000
ll.m.sno
"Added to the personal debt and ad
ministration expenses, this made a
grand total IHAHIty of »1,955,200
The year was 1920. Money was tight.
Other m&nnfaoturlng companies In the
same line which might have been In
terested In a purchase had no money
for extensions nor were the hanks In
a position to handle a loan of this
type. Here was & most successful
business, built up from small begin
nings by one man and carried on to
further successes by his son. about to
be placed under the hammer.
"Is there any justice In taxation that
may force a man and his family to
lose the fruits of his entire life's labor,
and permit others to benefit? As a last
resort, Henry. Jr., was forced Into a
bond issue. A loan, to settle the
debts, administration expenses and
death duties, of $2,850,000 was nego
tiated, upon the following basis:
"The capital stock of the company
was left at 16,000.000 represented by
50,000 shares. First mortgage 8 per
cent bonds were offered the public
with a bonus of two shares of stock
with each »1.000 bond. The banker,
to protect his bond customers, kept
30,000 shares to assure control of
management, and John Henry, Jr., re
celved the balance of 15,600 shares.
John now has a good Job as general
manager of his father's old company,
but they do not pay him very much.
"Now we must return to Walter
Brown, executor of John Henry, Sr.
Waiter had always kept close to his
own manufacturing business The
more he considered his own situation,
the more closely It seemed to him to
resemble that of his old friend.
"He therefore called a lawyer and
made a complete schedule of hts as
sets. requesting that aa estimate of
administration expense* and death
duttaa be made. The schedule of as
set* was aa follows;
Capital stock, Walter Bran Oo,
Mick. Corp, .
California rml Mtat«
Tax-exempt bond* Mina, Moat,
and Colo
.| 1.»*«,»00
1.0*0. ON
Total
"Within • few d«ya Mr. Brown'*
lawyer made the following report:
Debts and admin, exponaso.
Fed. eatate tax. »m«n
Cal. Inheritance tax ...
Mich. Inheritance tax..
Minn. Inheritance tax..
Mont Inheritance tax...
Colo. Inheritance tax...
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8.700
Total death duties
Total expense» ..
"On this basis the estate suffered a
reduction from $5,500,000 to approxl
mately »3,674.000. thus wiping out all
assets except thi, corporate stock and
placing a heavy .oan ov, that.
Brown had one son and. as he thought
of John Henry, Jr, tolling away with
little hope of opportunity he deter
mined that he would not subject his
own son to the same tribulations.
"Boom times having come, there
was no difficulty obtaining a pur
chaser for Walter Brown & Co, and
the California real estate was sold at
a good price. The whole was Invested
In tax-exempt bonds wÜlch yielded a
ver? safe return of about 4% per cent.
Walter Brown then moved hts legal
residence to the more friendly climate
of Florida, where state inheritance
and Income taxes are forbidden.
"The country suffers by the loss of
effort which Walter Brown might have
continued to expend under a more In
telligent system of taxation. We must
reform the tax system In such a way
that business and Industry shall not
be hampered. We must make sure
that American citizens shall not be
deprived of the Incentive to work and
accumulate and that thfs country shall
not cease to be a land of opportunity.
A tax system which discourages Ini
tlatlve cannot be the right system for
America.* .— -
.-..1.425,793
-11.925.708
Mr.
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Direct from Los Angeles
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MARLOR
Highlanders Orchestra
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IN FULL HIGHLAND COSTUME
WILL ENTERTAIN YOU WITH A
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Dance
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LABOR TEMPLE, SATURDAY JULY 18
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Something Different From the Rest
SPECIAL ATTRACTIONS
The Only Organization of its Kind on the Road
DINNA FORGET THE DATE
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Admission $1.00 per couple.
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FRANKLIN
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THE RESPONSE SHOWS THAT STYLE AND QUALITY ARE IN
DEMAND
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The New Franklins are appearing on the roàd as
fast as the factory can build them. But not as
fast as they are being ordered by people who like
fine things. Those who saw de Causse's great
custom-built pattern cars all said they would
prove a sensation. But few anticipated the actaal
response they have aroused. It shows that ap
preciation of style is instinctive. ..That everyone
wants quality. And that Franklin performance
is known and respected from coast to^ coast.
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High-power, comfort, reliability and economy of %
the Franklin brand make an unequaled combina- *
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tion in the beautiful New Franklin setting.
Illustration shows the Sport Sedan. Series 11
includes four other closed and two open types,
all ready for the road—fully equipped with
propriate accessories, spare tire and cover—at the
catalogue price. Only tax and freight are extra.
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O. H. P. SHELLEY
Authorized Dealer
RED LODGE, MONTANA
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