The Pittsburgh Press from Pittsburgh, Pennsylvania on April 16, 1935 · Page 6
Get access to this page with a Free Trial

A Publisher Extra Newspaper

The Pittsburgh Press from Pittsburgh, Pennsylvania · Page 6

Publication:
Location:
Pittsburgh, Pennsylvania
Issue Date:
Tuesday, April 16, 1935
Page:
Page 6
Start Free Trial
Cancel

tix STEEL MERGER TO GET AIRING IN MELLON CASE Bank, other Records to Be Used in Study of Bethle-hem-McClintic Deal OLD SUIT RECALLED u- S. Charges Transaction Was Not Under Terms of Non-Taxable Merger Granted the right to develop its contention that the official documents in the merger of McClintic-Marshall and Bethlehem Steel Corp. do not tell -the whole story, the government today followed up with a subpena on Union Trust Co. rec-ori?.in the same transaction. -.Tls new development in the income tax fight between A. W. Z un and the government over 7" he stiH owes $3,089,000 on income or whether he is entitled to a refund of $139,000, will add several days to the hearing, it was said. Questioning of R. H. Schlottman, assistant controller of Bethlehem tel, a Government witness, was completed by P. a. Shearer, of Government counsel today. Merger Traced Mr. Shearer traced details of the merger through books of Bethlehem Steel subsidiaries, a point he contends shows that the transaction did not conform to the statutory definition of a non-taxable reorganization. In cross-examination Frank T. Hogan, chief of Mellon counsel, had the witness identify checks and records, showing that the parent corporation, the Bethlehem Steel, went into the market to buy 240,000 shares of its own stock to be used in the transaction. The subpena granted by the special division of the Board of Tax Appeals requires thu Union Trust to produce some 17 letters and documents dealing with $8,200,000 in Bethlehem Steel bonds part of the $21,000,000 transaction. Mellon Owned Stock Mr. Mellon owned 30 per cent of McClintic-Marshall and the merger did not conform to the statutory terms of a non-taxable transaction, the government claims. Also from the Union Trust will come original letters from the Bankers Trust Co. of New York, which physically held the bonds, after the merger was completed there. A witness previously testified that four armored trucks were used to transport the bonds to the bank. An interesting sidelight in connection with the merger may come out as a result of the subpena. This concerns the refusal of the estate of George WY Corbett, a minor official of McClintock-Mar-shall, to accept the price offered for the 500 shares of stock he held. Old Suit Recalled The result was that a suit was entered and settled for $465,000. This was practically double the amount other stockholders received. Letters concerning that settlement are to be produced under the subpena. Twice yesterday the government won favorable decisions from Ernest H. Van Fossan, chairman of the special division of the Board of Tax Appeals on the admissability of evidence. The most important, the government claimed, was that permitting it to delve into Bethlehem Steel books and show what happened to the property acquired even after the merger was consummated. Mr. Hogan argued that Mr. Mellon could not be held responsible in any wav for book entries. T submit that it is an unheard of proposition of law to say that after a contract has been made, the act of some one of the parties, apart from the other, can in any way re flect upon, or help in reaching a conclusion with respect to the intention of the other party," he argued. To Study Transaction Mr. Van Fossan ruled that inasmuch as the theory of the government was that the "entire picture does not appear in the contracts themselves," right would be granted to "show how the parties treated the transaction." This evidence, however, would be subject to a motion to strike from the records, if it does not develop directly into the plan of reorganization finally adopted, he said. Want Afl Headquarters, Court 4303 .THE PITTSBURGH PRESS Other Press Departments, Conrt 7200 TUESDAY. APRIL 16, 1935 SQUIRE FACES FRAUD CHARGE IN WILL FIGHT Slast 3SUI ani QfeBtmmntt mad Stat mi ffi being mfaoamd ajiad mad memory, do berrky anal.' fmbUtb jamd dtxtfrt tba t be mf La Will Bad Tntmnrat. im ' mad farm MHuwiag. or re by rrrokimg amy witt or wilta bentvCorr m:id hf an. Pint. I dirrct that alt myjutt thbtt ami fuHerul ttyemea he fully j-aid ami saiii-lied. v ms mama ma maartaMatly n; be. alter my dmetaar. CZ eJX stjtxz Wfr A paragraph in the will of Benedict Wilson, of Stowe Twp which gave to Justice of the Peace Fhillip Hillen, of Carnegie, the .bulk of his $41,000 estate, wu under fire in Orphan's Court today when Wilson's brother accused the justice of fraudulently inserting his own name as a beneficiary when he penned the document. A photostatic copy of the will is reproduced above. Judge Thomas P. Trimble issued a citation asking Squire Hillen to answer the accusation at a hearing on May 3. (Story on Page 1.) Flying Dust Dries Up Hope For Southwest s Salvation Editor's Note The United Press sent a staff writer into the dust storm ravaged sections of five states to get a first-hand report of what the dust has done to once fertile wheatlands and rich cattle pastures. The second dispatch follows: By FRANK McNAUGHTON Copyright. 193 by United Press BOISE CITY, Okla., April 16 Only two things can bring the dust country back, rain and grass. Many discouraged farmers believe it is futile to hope for rain, and without it there can be no grass to 3 hold the anchorless soil in place In an auto journey Sunday from Felt, Okla., to Clayton, N. M., I drove through the worst dust storm of the season. In two hours dust drifted two feet high against my car while I sought refuge in a barn. In the thick of the storm I could not see my hand before my face. I could breathe only by holding a moistened handkerchief to my nose, nose. Since February dozens of storms of only slightly less intensity have whipped the top-soil from millions of acres in the Oklahoma and Texas panhandles. Southwestern Kansas, Southeastern Colorado and Northwestern New Mexico. Fields Barren Today I visited communities where the desolation was typical of that throughout the region. I drove past fields blown as bare as a roadway; saw pastures covered with sand, miles of fences buried under drifted silt, 20-foot dunes pressing ! against buildings or invading orchards. There is not a green thing: in Cimarron County except a little soapweed and sage brush." In 1929 this county produced 3,000,000 bushels of wheat. Farmers say it will harvest only a few hundred bushels this year. I saw farmers burning the thorns off cactus plants to make them edible for cattle. In Union County, N. M., the relief director, Joel P. Montgomery, has five grinding machines crushing soapweed so livestock will eat it. The residents of this part of Oklahoma are pioneers they came here when the Cherokee strip was opened. They have suffered hardship before, but nothing like this. Soil Rises in Air There has been no general rain in the corner sections of the five-state area since 1931. That is why the soil rises into the air with the first puff of wind. Joseph T. Brown, whose weather-beaten face attests 30 years passed in overseeing cultivation of his 10,000 acres, said wearily: "I'm sick; in 30 years we never had anything like this. "We still have hope but it's getting mighty meager. Two-thirds of the people have left this trade territory. Half of the balance will be gone in 15 days. The county will have to be repopulated after the rains come if they come." The dust has broken the spirit of many and the health of others. Dr. D. W. Ward of Boise City said last winter he treated five pneumonia cases. This year, since the dust came, he has treated 25. Four died. Each storm leaves behind new cases of sinus infection, bronchitis and mastoid trouble. I have seen people shaking with what is called "dust chills." Not "even jackrabbits have a chance against the dust. Better equipped than any other animal for survival in this country, thousands are dying from starvation or outright suffocation. I saw big jacks hopping about dazedly, running into soapweed stalks. They had been blinded by the dust. "The situation is the worst I ever saw," said Colonel Jack Potter, who 50 years ago blazed the famous Potter and Bacon cattle trails. "The country will be forever ruined unless we get rain and get the grass started again." There are 10,000 people in Union FIVE STATES PLAN DUST STORM DRIVE Intensity Drops, But Wind Damages Airplanes By The United Press GARDEN CITY, Kan., April 16 A lull in the dust storms which have swept the Middle and Southwest with increasing frequency since February today greeted representatives of five states who came here to initiate a campaign against wind erosion. Minor dust storms were reported in a dozen Western states, afflicting sections as far apart as Southern Idaho and Southwestern Texas. None, however, equaled in intensity the devastating storm which originated Sunday in northeastern New Mexico and the Texas and Oklahoma panhandles. A violent wind blew down hangars at Salt Lake City, Utah, damaging several airplanes. Blasts of sand tormented persons in the streets. A new storm struck Pueblo, Col., yesterday, reducing visibility to zero-zero. Light dust drifted over the Oklahoma Panhandle and Western Kansas yesterday. Reclamation plans in the five states contemplate broad scale listing of eroded sections to form a barrier against prevailing winds. Thin Cloud of Dust Over New York By The United Press NEW YORK, April 16 A thin, yellow dust cloud, fringe of the western dust storms, passed over New York and out to sea early today. Air pilots reported encountering the layer of fine dust at varying altitudes through a 200-mile belt in the Atlantic Coast states. For several hours, the cloud hov ered over New York's skyscrapers, creating a brownish haze. SALESMAN SUED Firm Charges Agent Kept $3,923 In Gems When He Resigned Suit for $3,923, the value of jewelry samples which the plaintiff alleges Irvin H. Steinsapir of Ho- bart St., a former jewelry salesman, failed to return, was filed yesterday in U. S. Court by J. R. Wood & Sons, Inc., of New York. Steinsapir, it is charged, was given 333 rings, 143 pins, three gold nuggets and other articles, in his capacity as salesman. When he resigned last Dec. 21 he failed to return the jewelry, the plaintiff alleges. County, New Mexico. Twenty-two hundred families are on relief. Union County raises beans. It shipped 1,400 carloads every season until the drouth. In the past two years no shipments have left the county. J. E. Staley, Clayton editor, said 83 per cent of the farmers and ranchers were on relief. Approximately 150 families have moved away. Reckless Driving? Asleep, Said Nick Just because he was sleepy this morning. Nick Rieland, 32, of Margaret St., will appear in Traffic Court tomorrow to answer a charge of Teckless driving. Nick told the police he fell asleep at 4:30 a. m while driving in Sawmill Run Blvd., and that before he woke up his car had ploughed through a garage owned by George Brown, 67 Third St., Overbrook. Widow Receives Estate In a will filed for probate today, the $20,000 estate of Wolf Laskin of 603 North Euclid Ave. was bequeathed to his widow, Mrs. Fannie Laskin, and a daughter. Miss Florence Laskin. HOTEL TO REORGANIZE Federal Judge Approves Bonds Under Bankruptcy Act The reorganization of the Ruskin Hotel Co. under the amended Federal bankruptcy act of last June, whereby additional capital for operation of the company will be furnished, was approved by Federal Judge F. P. Schoonmaker late yesterday. Under the plan the Amalgamated Realty Co. will provide additional capital sufficient, with that on hand, to launch the company in its new enterprise free of debt, it was pointed out. Issuance of bonds in the sum of $389,300 on the Uni- vprsitv Building and $349,000 on the Annex Building was provided. Th( commonwealth Trust Co. is trustee. Advertisement) False Teeth KLING Makes Eating a Joy K false teem nrin. mm intj Blwavs comfortable. Just sprinkle m. little KLING on your plate. This improved powder forms a comfort cushion. heals sore gums, and holds elates so snug, you eat, talk and lauKb. as well as you did with your laugn. tci.ING is. guaranteed better than anything: you ever used Large package of Kling only 35c at druggist. or money ";"-.;r Sdlc Starts Tomorrow National ROTARY Electric swing Machine Jo! 41 Liberal Trade-in Allowance! Automatic Tension 7-Speed Knee Control Electric Sewlight Full Size Head Hamilton-Beach Motor Full Size Balance Wheel ALL Attachments Full Guarantee Brand new machines desk model Absolutely Complete double walnut veneer on hard woods. No Extras to Buy sOrder now for immediate delivery. Buy on our convenient payment plan Small down payment, balance monthly, plus a alight carrying charge SEWING MACHINES, STREET FLOOR ISoggs & Buhl L(o)IrDff MDfu)?n) ay Snll?G COMPLETE NO EXTRAS 4 Genuine R. C. A. Tubes A. C. and Current D. C. Wow With Airplane Dial No Installation Just Plus In THREE RIVERS STRAIGHT WHISKEY Large improved Speaker Fine Tone Very Selective 2p Here is a real radio special. Just the radio for your home or office. Receives regular Long. Wave. programs and police calls with con-WmSoWtX siderable volume. Beautiful walnut finished cabinet. East Liberty Star Opan Evary Evading Others Open Monday, Wednesday and Saturday Evenings Headquarters for On Sale At All 3 Stores Tomorrow and Thursday 25' clDeeHy JL VI 109-107 SIXTH STREET auvitn EAST LIBERTY STORE 6103 Penn Avcouc ' ULmlLulltmJ NORTH SIDE STORE ,40,5 Federal Strcetj PHILCO. GENERAL ELECTRIC MONARCH AND EMERSON RADIOS. Your choice oa easiest kredit terms. Large Selection at Lowest Prices Sip gen, , .Ul I-, -i - stsiiiiiiiifcr CCTJGte iJW fflffiTtli) ' t fist '-ft tt: 1. -l Washable Sun Resisting 12 Rolls Wall 24 Yds. Border " 6 Ceiling Usuallr Priced $3.50! IM.U U if? 3 2 Cf3 JC) I 0 Lmb ml rta -a:3 sen U r.-4L LCD fji 3 ? a O O O 9 0 o o o tosiuWdcu Qua a 5r: i mi 2 o H2 - Headquarters For Easter Flowers C 51D)(D Fancy Red Folks rave about this fish who don't usually care for any kind of fish. Thickmeaty steaks, orange-red in color and only one bone that comes out easily. Its flavor is neither too pronounced nor too mild in other words, just right. The price becomes more attractive when you realize there's practically no waste to g, Jf Y Salmon Steak 41 Fresh Halibut Steak w. 39c Note that this is fresh Halibut . . . the first of the season. Fresh Black Sea Bass . . . ib. 19c We dress them any way you want them. Fillets of Haddock Fresh thick fillets of the rt TD first quality. Haddock al- Jl jf tT ways makes a good dinner IReady-to-Seirve Fried Jumbo Frogs co. 38c Fried Soft-Shell Crabs, 2 for 49c Large Deviled Crabs . . 3 for 25c Fried Fillet of Haddock ib. 29c Fried Halibut Steak ..... ib. 43c Fried Codfish Cakes . . 4 for 19c Large Fried Oysters . . .doz. 29c Tuna Fish Salad .' . . . . . . pt. 35c Fresh Egg Salad . . .... . Pu 29c Crisp Cole Slaw Pt. 15c French Fried Potatoes., w. 19c McCanns Tartare Sauce jar 25c is the number to call if you want to have an order delivered. Our trucks go everywhere. The delivery fee is 10 cents. YouH be more than pleased with our Shopping Service. Fresh Chicken Liveirs 2 ibs- (S5 We sell lots of this delicacy around Easter. At one time we could only supply them to order. Now we have an unlimited quantity at all times. Absolutely fresh. Cats and Gibltts Small pieces tor soup and stews. Lb.. .. trusts and Lacs About on. of each to the pound. Lb.. J 1 - smm. West Virginia are already cooked You can slice it cold and what a delicious flavor it has. Or you can brown it in the oven with cloves and brown sugar and serve a perfectly delicious baked ham with practically no effort. Butt half, 40 cents a pound. Whole or 07C string end.Zb. Swift's Paanut Hams ib From Georgia comes these Peanut Hams; so named because the pigs were fed on peanuts. They -have a wonderful flavor. Butt half at 31 cents a pound. Egg Tints Swansdown, Chick-Chick, Magic Wand and Paas. 2 pkgs. 15 Paan-Telt, 2 for 25c Superior Brick Cheese Superior is the right name for it. This is the best Brick Cheese to be had. E s p e c i ally nic e for wfches. lb. WW 5 Mild Craam Cheese. 25c Fancy Swiss Cheasait-29o Buy the best Jellied Bizrd Eggs for the children These are pure and low-priced. Nice colors and lots of the black ones everyone goes for. IF you haven't been in the Economy Annex recently there's a surprise in store for you. We've enlarged the meat section and installed new glass-front coolers. These additions were necessary because of the increasing volume of business we've been doing in the Annex. Stop in! Specials for Tuesday, Steaks cut from government inspected steer beef Round . . . ib. 3 Ic Sirloin . ... ib. 33c Tenderloin ib. 37c Wlnesap make good apple pies and dumplings. Ph. 49 Wednesday & Thursday Yearling Beef Liver When beef liver is Yearling quality, it's very good eating and contains just as much health value as the more favored Sir".... W. 15 Slieed Bacon, Ib. 35o Hickory Smoked MAMS for Easter lbs. 2l whole or string end. Butt Ends, Ib. 28o Si 11 are extra nice at McCanns Tomatoes . . 23c Ice Lettuce, 2 hd.. 1 9c Cucumbers, 2 for 29c Water Cress. 2 bnch. 9c Escarole . . . pound 10c Radishes ... 2 fences 9c Green Onions, 2 ib. 9c Asparagus . .bunch 29c Calavoes . . . .2 for 25c Celery .... 2 23c

What members have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 21,000+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Publisher Extra Newspapers

  • Exclusive licensed content from premium publishers like the The Pittsburgh Press
  • Archives through last month
  • Continually updated

Try it free