1SH
PAGE THREE.
, r P Strain has Issued a circular letter to the members of ,
Assessor l- - ,..., f intansrtble wenlth or Invlalhl.
. -,-i.mre on i j - - -
tk lra""V ,h coming session may take steps to frame a law to reach
of property.
Following Is the circular In full:
class
Pendleton, Oregon, Dec. 1, 1S04.
JiJST OREGONIAN, PENDLETON, OREGON, SATURDAY, DECEMBER S, 1884.
.rnn 11 l i u n i iii aim
m n ii ii ihi iiiii
iputl tv r. oil Riii uh
INVISIBLE VftLUES"
8rtfe
1
pEAR SIR- , unequHi taxation has prompted me to Investigate
TO cmur . .., , j ,, ,, , .
i ll invisible property. I find that all the states have experl
nibjecl 01 .. . oreion.
the same huh.
i
... .vaiom such as we now use. worked verv well dur-
reer days when property consisted mainly of real estate and
lMb But modern Industry has developed a vast amount of Invisible
intangible wealth, which cannot be reached by the property tax
ffrtem' . i nnt1v made much Progress In exnnsine these
"reforms of property to the view of assessors. They have found
jitelble I thls (t lg nece8Bary either to substitute state authority
"authority, or else to reinforce local authority by state aid.
property ron"" ....... w. ,
lents, good will, patent rights, etc. It was estimated by
. onerlnl agent of the United States Industrial com-
OMrrt lapp ' , thpm. that one-half of the wealth of a modern
'"' , norannaltv. the bulk of which Is Intangible. And yet
OK n"t r J,B o( 0reg0n show that this Intangible wealth consti-
f.h.n seven per cent of the taxable property.
nin i -
MONEY ON DEPOSIT,
u machusetts has probably more nearly than any other state reached
dep0,lt she taxes deposits up to the bank direct, levying one
" per c'ent on average deposits in lieu of all other tax on de-
Thla method so simplifies matters that money bears Its share of
w,th Certtt,"t,5!' . ... ,.M ht t10.nnn.00 revenue
tlr the combined deposits of our five banks are not less than
prwnui . i,i this for duplications, there would yet
I) (00 000. Oil. All""'"!. "- - '
ln II 000,000.00 subject to taxation.
But under our method of listing money to individuals, I have dis
Mtrti only $200,000.00 of this, while ,800.000.00 has escaped me, re
a loss, approximately of ,8.000 I annually
Umatilla county possesses umy u" i-cu- - . --... - r-
Utlon, and perhaps about that proportion of its money supply. As-
nmini therefore, that otner counties nave aiira m" . -III
omblned loss lu Oregon is twenty-three times 8.000.00, or ,184.
MI.H each year. ,.... ....
The only defect which I nave aiscoverea in uie ibhhshuiiuku. i
nuUti In Its restricted application. It oeems to apply only to Savings
But the legal definition or a savings um mj
MBini Imperfection. ,
Uejlelatlon should be enaciea concurrently uy ui n..uuisiu..
mi Idaho, ao as to protect competing dhiikb suuaieu i.rar bc.c.
uMitt aides of a Btote "ne-
I The savins bank tax in Massachusetts was ,1,291,286.00 In 1896,
t of a total tax for the state of ,, 076, 284.00.
CREDITS.
Many atates suffer great loss by escape of notes and accounts, which
Inevitable where exemptions are allowed for Indebtedness. Mince
ht alio no exemptions, assessors have only to discover an properly
tatssma aa security directly or Indirectly, In order to prevent escape oi
:nMe property In this respect.
The borrower and the lender constitute a class. a Dorrows
hl.lN.M of "B" with which he builds a house worth that sum. ine
! Wo together have only ,1,000.00 Involved in this property. If both be
Med they pay double what "C" pays on another house of equal value
tm from debt.
LIFE INSrRANOE.
Life insurance haH come to be a field of great investment. The
ioih rurrender value of policies held in America represents a vast ac
jranulatlon of wealth. And old line Insurance belongs largely to the
nlUiy and high snlarled classes, who are better able to contribute
inl mpport of government than ordinary taxpayers. And yet this
ml quantity of property escapes direct taxation. The only tax paid
the Mate Is nuid by the Insurance companies themselves. They pay
w per cent of net premiums for the privilege of doing business here.
The new premiums in Oregon were ,707.247.66 in 1901, &iu.u"."
I which probably represents accumulated wealth. I have no means of
ninj how much of this property Is now owned In the state. But it
rUlnly reaches or exceeds ,6.000.000.00, all of which escapes taxation.
It may be contended that the two per cent taxes on net premiums
'era this. But the two per cent is not Intended to cover the Investment
!e of policies at all. It Is slmnlv a payment required by the state for
Privilege of doing business within It.
The same rate applies to fire Insurance companies. And the object
il Ore Inrurance is solely for protection against loss. No Investment or
fflKnulallon of wealth Is Intended. But life insurance possesses a double
'"Wte. It provides protection against loss by death Just as fire insur-
d against loss by fire. It also goes further and provides a very
"Wive means of Investment. This Invested wealth entirely escapes
nation.
Thli can be reached by requiring companiss doing business here to
'wn the names and addresses of Oregon policy holders, together with
""render value of each policy. But a better method Is to tax it up
1 companies direct, leaving them to square themselves by adjust
"''afratea. They should be required to pay upwards of four per
n.iik' pr"n,um ' 'he state as compensation for the escape of
y Invested In life insurance within the state. Here Is the proof:
rW value of life Insurance investments. ,6.000.000.00; estimated
rate of tax. assumim? full i. n..u.mnli 7 mills: .007 times
r.H.M eoual. ttr. nun nn
taual net premiums, ,767,247.66; four per cent of this Is: .04 time
". or ,S0,690.00.
. FRANCHISES.
"lachlaM - - ... ...
Ihpj - H'c'reiii a source oi great weaun, wnicn coumy 0""'
(ut,en 'heir Inability to reach In every state where Its assessment
, """committed to them. This Is a matter which grows In Importance
f Jr "Wopment of the state.
W, "8lrt t0 operate street cars in Portland was of small value
PtlLnrl!r day" when the Population was small. The right to
W"J? - R- N. railroad through the Columbia Gap was not a
rallrnf! '6W ,ear' aKO- The Possession by the Oregon & Call
ht' PuT ' th' paM thrugh the mountains between Roseburg and
t ton 1 "'e Va,Ue then-
hiCi Bnd traM,c multiply amaxlngly and traffic arrange
kit tZl provt- Twenty year ago the Oregon Short Una was not
P. Ii u ,ear" a,t0 th population of Eastern Oregon was about
pis, it ta - " ru me population 01 juaaiern uregon w
P'lla laW 120 000- The population of Idaho was 88.648 In 1890
fMWn.. P'ohably 226,000 now.
raaw. n 1,g0- '57,232 In
The population of Washlng-
1880, 618,118 In 1900, and probably
population has enlarged production. The completion
R. Ic N. eastern connections.
C.
1m . "I th. '""":a to ,1
' 11 ' rtf 9 . . .. .
B w cent, M. 000.00 to ,12,000.00 per mile. 1 raiseu
I H nroll . n lo,a 100 Per cent, thus making the actual
Vu,r ''hiinea tv an " appears on Us face.
i ""onwan V?e reports of various state railroad commissions,
' anf.1"14 8tes Cnlt'd Btates Interstate commerce commission,
" abT 4,1 ooubL J,u"tr,nl commission. These confirm my valua
"' n "avlnr th a"Ur tne value ot reffon ra"ada by any
2"""' Call to 1 anc,lon ' the United States supreme court,
H?0"1 withT the B"m'",,ea valuation to the extent of many
a ana nonrriB nf flMiimiiKfltion sem Doweriesv
i
11
9
ooool!(2
n bargains all over the house values that will do your heart good and make you gliul Hint Im Tcutwli's Department Store Is
here to benefit you, not only with low prices, but good, reliable merchandise, tlutt Is fully guaranteed as represented, or your money cheer,
fully refunded.
-NOTICE WHAT WE ARE DOING FOR YOTJ THIS WEEK-
tM ,k ' Southern Pacific and its purchase of the O,
"oa niil, "PPotunlty have, therefore, expanded the bustness
" bttwe ,v lmmenely. yet there la but one Columbia Gap. but
Utnd tw UmPlua and the Rogue. Who, then, U wo simple
enr. 'fanchiaei belonging to the O. R. N. and the
"are U but , uncranged In Talue.
J kaln, R uraI Passage between Portland and the upper
"anclse., pA one natural land passage between Portland and
sir" 10 tni 1. y tne oulnea" of the O. R. N. and O. C.
r 1 aaanoMi th rowth of the region which they connect.
T1" ""hr KM f Wrth many m,l1,on now. and which shall speedily
K- Q IK- " mure.
I no raiirn,?'4 Practically stationary outside of this county.
at. " ""stics back of 1898. The net earnings or tne
n 1 ,hn wan t.0re than four tlme what they were then. Their
1 .U01" 'Ml wh . 0 00 Der me on roadbed. It remained at that
hf aaesaor. . ral"ea 11 10 1.000.00 per mile In this county.
..n th - t 10 aD.ouu.oo per mile. At tne same uuie
Ladies' and Misses' Suits and
v Tourist Coats
Now Is the time to buy. There Is no use
waiting for lower prices. We are selling
them at cost Only 160 left and we want to
dispose of them at once.
All ,10.00 Suits and Coats now $ 5.00
All ,12.60 Suits and Coats now t 8.75
All ,16.00 Suits and Coats now t B.00
All ,16.60 Suits and Coats now '..$11.85
All ,18.00 Suits and Coats now $12.75
All ,20.00 Suits and Coats now 814.85
All ,22.60 Suits and Coats now 818.40
All ,25.00 Suits and Coats now 818.80
All ,36.00 Suits and Coats now $28.85
ALTERATIONS FREE.
Extra Special Shoe Values
117 pairs ladies' shoes with either welted
or turn soles; sizes 2 1-2 to 8; regu
lar values ,3.60, ,4.00 and ,6.00;
sale price 82.45
109 pairs ladies' fine one, two and three
strap slippers, with French heels.
Patent leather or kid; regular values
,3.00 and ,3.50; sale price $1.95
200 pairs misses' and children's shoes In
sizes 8 1-2 to 1 1-2; values up to
,2.25; sale price 88c
Bunker Hill School Shoes
GIRLS LOOK HERE
A Doll FREE With Every Pair.
The best school shoe on the market,
comes In kid and fine box calf; 8 1-2
to 11 $1.50
11 1-2 to 2 $1.75
TRY A PAIR Al.li RIPS SEWED FREE.
SD-Kid $3.50 Shoe
For women. Looks like a ,5.00 shoe;
in five styles. Patent or kid.
Ladies' and Misses' Skirts
The largest and most carefully selected
stock of Skirts is now being shown, and at
saving to you of from 25 to S3 1-8 per cent.
We have 600, all new and up-to-date, skirts.
In this section and want to reduce the num
ber just one-half by December 15th. ""he
prices we are quoting will surely make them
move.
All ,3.00 Skirts now $a.2o
All ,3.50 Skirts now $2.75
All ,4.00 Skirts now $3.20
All ,4.60 8kirts now $3.85
All ,4.76 Skirts now $3.80
All ,5.00 Skirts now $3.85
All ,5.60 Skirts now $4.25
All ,6.00 Skirts now $4.4
All ,6.60 Skirts now $1.05
All , 7. 00 Skirts now $5.S5
All ,7.60 Skirts now $5.80
All ,8.00 Skirts now 85.85
Al ,8.50 Skirts now 88.25
All ,8.76 Skirts now $.S5
All ,9.00 Skirts now $.0
All ,9.60 Skirts now $7.10
All ,10.00 Skirts now $7.30
All ,11.00 Skirts now $7.80
All ,12.00 Skirts now $8.85
ALTERATIONS FREE. A PERFECT FIT
GUARANTEED.
Dress Goods
Every piece of dress goods In the house
greatly reduced in price for this week.
,1.50 Dress Goods $1.20
,1.26 Dress Goods 88c
,1.00 Dress Goods 70c
76c Dress Goods 4 He
65c and 60c Dress Goods 42c
50c Dress Goods 30c
40c Drees Goods 30c
Ladies and Misses' Jackets
Just 78 left that will move rapidly at the
prices we ask tor them during this sale:
, 6.60 Jackets go this week at $ 4.85
, 9.60 Jackets go this week at $ 8.88
,10.00 Jackets go tills week at , $ 7-40
,12.00 Jackets go this week at $ 8.75
,15.00 Jackets go this week at $10.75
Children's Long Coats
(Agra 4 to 14.)
Ninety-four garments will be placed on
sale for this week at prices that will surely
make the mothers smile.
,3.00 Coats reduced to $2.00
,6.00 Coats reduced to $3.85
,6.50 Conts reduced to... $4.95
,7.00 Coats reduced to $5.26
I1IUNG IN THE CilRLS.
Children's Ready-to-Wear
Dresses
DIG SALE FOR THIS WEEK.
,1.00 Dresses
,1.50 Dresses $' 20
,2.00 Dresses $1.48
,2.60 Dresses $1.95
,3.00 Dresse $2.85
,3.60 Dresses $2.75
,4.00 Dresae $3.15
Santa Claus
Hus now on exhibition at our store, a large
line of dolls, books, blocks, tool chests, banks,
wagons, trains, go-carts, horns, and a very
large assortment of all kinds of mechanical
toys.
SEE WINDOW DISPLAY.
LEE TEUTSCH'S DEPT. STORE
81
Main and Alta Streets
$) . jV''VW
-sAsfcAsAaf'.ti' tsVtstsVtsV''sst
Motherhood
MOTHERHOOD la
11
the reward nature
liestows upon healthy womanhood.
Women whose vitality baa lieeu sapped
by disease cannot safely give birth to chil
dren. In pregnancy and in childbirth weak
ness f the mother is revealed in the paia
and agony she suffers.
Thia great medicine drives out every ves
tiee of inflammation and weakness, and
gives tone and strength to the delicate or-
-l,.h nmture the child. The paint of
nreffnancy are Imniiuied by Wine of Cardui, and mis
carriages, which blast so many fond mother s hopes.
are prevenien. rioouiug. j j
childbirth, it corrected when W me ot aram 11 useu our...,, .
WneofOardui babies are healthy babies, because, aluring tfie
months of pregnancy, the mother it able to give them iieceaaary vitality
nd wUh'uiese facta presented to American women no Pctont
mother should be satisfied without the re-inforosnient WWim ofCardu.
will give her. Every mother should be able to treat herself in her home
with this valuable medicine. ,i nn.iljtL
Wine of Cardui can be secured from any druggiatat1.00abottle.
Polycarp, N. C. Jan. 11, 1902.
I am the mother of seven chiWren and while in pregnancy witi the
firstsix suffered untold misery until they were born. One month before the
relief aftflrtakinir threedoacs. I used the remainderof the bottle until the
birth rfKh. o"ter in three day. after the birth than 1 m
. rnluTter Rebirth of either of the first six. I am 29 year. old.
month after the Uiruioi ELIZABETH BTAi'FOKD.
GOING OUT OF
BUSINESS
My Mock MUST be restated ana to maw effereal at lata than
regular price. Lou of article are going at ami. It wiH pay
. anyone to come and see Joe Busier from bow aaiil January first,
for be Is in It en low prtoea.
JOE BASLER
&Lv Proficiency 1
THE KEY TO OCB SUCCESS
In laundering clothe to th wearer'
satisfaction, consist of the three P'
promptness, proficiency, punctuali
ty, with perhaps th loud pedal on the
middle number, proficiency. Our
work, methods and material Invaria
bly produce good result and w hes
itate not a whit In asking your patron
age. It' easy to 'phone us hurry or
der. DOMESTIC LAUNDRY.
(Continued on page four.)
5 tjuzmir-'"