Arizona Republic from Phoenix, Arizona on February 18, 1941 · Page 3
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Arizona Republic from Phoenix, Arizona · Page 3

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Phoenix, Arizona
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Tuesday, February 18, 1941
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Page 3
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Telephone 3-1111 Prices Seen nvers are cnter- . „„.„... shearing season best price prospects in 10 » w '"e yearsf Jerric W. Lee. sec*" -'the Arizona Wool Grow- 1 yesterday. -Out Of America's Pocketbook- Arizona Republic, PKoemx, Tuesday Morning, FeEniary 18,1941 Page Three Bondholders, Business, Small Incomes Seen Revenue Source wee k the U. S. War De- lt , through the priority (EDITOR'S NOTE: The federal gmtnuant can't lutt turn on a faucet and come up with a bucket filled with a billion dollara. lt'« a more coniDllcated lob W. B. Randal, (rite ofllkdjr new wurce. of ««"«nue tteTo™ rS,'SaJ ££ In thin Mrond of nix daily artlcln on the national tax plcture-'Tomorrow: EicS ana war profits taxes.) WASHINGTON, Feb. 17—(AP)—The treasury is trying to piece • n arranged to ask bids . »*=n^«iu«, TCD. ii— v A r>— me treasury is trying to piece ! n'nunoe^s thai will cost | to eether a new tax net that will catch at least an additional billion °' nunoe and °vill' remove from dollars of revenue. » .^ ! _ J _, almost one third of clip," Mr. Lee said. lls experts are combing through old revenue laws, studying the yields and collection difficulties of old taxes, weighing the possibilities innOOOOO vards each of serge ounce" shirting; 3.000,000 blankets, idea of what the warjof lifting the rates and broadening wants the bids will the scope of present taxes. . . _... ., So far the signs haye po i nte( j t o: 1. Laying a tax upon the yield from government bonds and mak|ng another effort to tear away the shield that thus far has protected state and local bonds from taxation. 2. Lifting the tax on excew profits to make certain the defense drive builds no new fortunes. 2.000.000 woolen socks. \ve have been inform- npton, will be opened ^ awarded within three It is evident this will have effect upon the mar> appears to be no dis- -mon Tri"Washington to deny growers an equitable price for their commodity. «r\f nti estimated ouiMAHMH.ru Jnds of wool to he sheared in L United States this year, 40.- &Tpound* already bave been - and the governments dness orders will mu.uw,,^ P°u n[1s - J- 1 "* ,?f bottoms has prevented the to this countr>- of the ..«anu.dn wool it was anticipated *STbe sent here in competition it least six outfits are shearing , the Salt River valley or the "me foothills at present, w i« said. He estimated 300.- m>'-sheep have been pastured in W»™, r_: _„ -thin wintpr For- M Arizona this winter rr fcso abundant on the desert alt the flocks are being moved nnr from the valley fields as ftst as they are sheared^ Probationer Is Given Year •Willie Smith, 48 years old. col- Bred. 1623 East Jefferson street wassentenced to one to two years imprisonment yesterday after probation granted him four weeks ago on an aggravated assault charge was revoked. Smith was granted a two-year traditional release January 27 by Superior.Judge Dudley \V. Windes after he had pleaded guilty to assaulting Almeta Smith, also of 1623 East Jefferson street, Detente 28. Smith was arrested by sheriffs deputies after police received a teport he set fire to a davenport in an East Jefferson street home last ' Clarence' Williams pleaded not guilty to assault with a deadly weapon and will be tried April 4. Trial of 0. L. Thompson on an intoxicated driving charge also was jet for April 4 when he pleaded not guilty. Cases continued were those of Jlillard Thurman, abandoning his Jrife, and Joseph Goon, bastardy. State Resident Dies • James Preston Hensley, 81 years aid, an Arizonian 35 years and a S. Making new alterations in the income tax structure. 4. Increasing some of the excise taxes, laying similar taxes upon new articles. The excise tax in many respects verges closely upon the domain of the sales tax. and President Roosevelt has declared himself opposed to a tax policy which restricts general consumption so long as men and machines are idle. This does not mean, however, that he is opposed to using such a tax when it is laid upon selected articles. Here, the reach articles that effort is to fall into the luxury-, or nonnecessity, class, so that the tax still will be garbed in the theory that men should be taxed according to their ability to pay- Nevertheless, the old maxim of the late Speaker Rainey still holds true: The principal job of a tax bill is. to get the most feathers with the least squawking from the goose. In addition to the ideas that have been pondered by the administration, several Republicans have spoken up about the tax problem. Senator Taft of Ohio has proposed a further lowering of exemptions and a boosting of rates to provide a bigger tax take from the low- income groups. And Representative Treadway of Massachusetts introduced a resolution to create a joint congressional committee on federal finance to be composed of members of the senate finance and appropriations committees and the house ways and means and appropriations committee. It would co-ordinate the "appropriation and revenue-raising committee of congress by providing an over-all picture of the federal government's financial situation." "Merger" Is Favored Back in May of 1939, Secretary Morgenthau appeared before the ways and means committee of which Treadway is a member and said: "If the ways and means and appropriations committees of this house and the finance and appropriations committees of the senate could meet each session as one joint committee on fiscal policy to consider the over-all aspects of expenditure and revenue programs, simplification and -greater effectiveness would result." But in May of 1339, congress was _, . i not paying much more attention to Impe-resident 12, died yesterday | administration suggestions than it jnorningan a local hospital after a is to those O f.Republicans now. brief illness. Saturday. He suffered a stroke Funeral service will be held at 10 •.B. tomorrow by the First Church of Christ Scientist of fhoenix in Memory Chapel of the A. L. Moore sad Sons Mortuary. Interment 'will be in Greenwood Memorial Park. Born In Chillicothe, Mo., Mr. Sensley was in the mining and cattle business in Colorado before coming to Arizona. He resided at 1145 Vi iVan Ness avenue in Terhpe. jSurviyoK include two sons, J. KValter Hensley, Tempe, and Ru- two For the first 76 years of congress' life, however, the ways and means committee handled both revenue producing and appropriations measures in the house. In that way, the agency of congress that was charged with okaying the spending was kept constantly aware of the fact that the money had to be raised in some manner. First Billion-Dollar Year But in 1865, the committee got so busy trying to find ways of financing the Civil War that the house turned the job of appropriating over committee. to an appropriations The fact may not be dolph H. Hensley, Laveen; — „„ „ . Daughters, Mrs. Stella Pierce, I significant when the needs of that Tempe, and Mrs. Elnora Wright, [final year of the war are consid- e; and two grandchildren, ered, but it is true that 1865 is the only year of billion-dollar spending that lies between 1789 and 1914. It was in this period that the ways and means committee, after levying taxes on everything it could think of—sugar, two cents a pound; pig iron, $9 a ton; salt, 18 cents a hundred pound—dug up the Income tax. Already, the committee had put a blanket tax on everything made, from raw material to finished product. Manufacturers were taxed on-the total value of their products as well as specifically on their production per ton, per pound, or yard. The bond tax problem is likely to be more difficult for the treasury, and congress, than either a reshaping of the income tax or the various business profits taxes. Stubborn Opposition Time after time during the last 20 years, presidents and secretaries of the treasury have asked congress for power to tax state and municipal bonds. Always they have met such stubborn opposition from the cities and states that congress has backed away fearfully. The question of states' rights is involved, and a constitutional amendment might be needed—an amendment which would be hard to get past the state legislatures. Without such an amendment any law which sought to collect such a tax probably would be contested in the courts. It would be easier to get permission to tax federal securities. And Secretary Morgen- thau appears to have shown that taxation will not hinder the selling; of such securities. Back in December, he issued half a billion dollars of wholly taxable defense notes—the first such issue in history. It runs for five years, bears the low rate of three quarters of one per cent interest. He could have sold eight times as many as he offered. To crack off the shell of tax exemptions that protects long-term bonds, however, he would have to go to congress. The treasury figures that there are upward of 70 billion dollars of tax-exempt securities of all kinds outstanding, half of them wholly exempt, half only partially exempt. Of these, 47 billions are of the federal government, or guaranteed by it; two billions -are of federal agencies, unguaranteed by the government; the remainder are state and local, territorial or insular. These add up to about 20 billions. Of the federal, or federal guaranteed, 19 billions are held by commercial or savings banks, six by insurance companies, seven by federal agencies and trust funds, 2^i by federal reserve banks. Almost 13 billions are held privately. Estimates of how much such a tax would net the federal government reach above 100 millions for federal securities alone. The figure would be almost doubled if state and local securities were added to the list. Opponents of such a tax argue, however, that the increased interest the states and cities would have to pay would amount to more than the federal government would be able to collect in taxes. Thev have argued also that the federal government, by throwing its own securities open to both state and federal taxes, would have to pay so much more in added interest charges that it would lose most of the tax income it collected from that source. They have denied vigorously that tax-exempt bonds were a hiding place for millionaires' fortunes. One such study said a review of the assets of 3,044 estates of more than a million dollars, and with a total gross value of 10 billions, showed only about a tenth of the gross —or a billion dollars—invested in exempt bonds. But, regardless of what may happen to state and city bonds, the person who buys future issues of the federal government is likely to pay tax on the coupons he .clips from those bonds. Picnic Arranged By Iowa Society Members of the Iowa Society of Arizona will hold their annual spring picnic at No. 1 Ramada in Phoenix Mountain Park Saturday, it was announced yesterday by Mrs. M. A. Richardson, president. Speakers will be the Rev. C. S. Reynolds, pastor of Garfield Methodist Church; Neri Osborn, sr., and Mrs. R. K. Truesdale. The picnic is scheduled to start at 10 a. m. Entertainment features will include community singing and a concert by the Work Projects Administration band. A basket luncheon will be served at noon with the committee furnishing coffee, cream and sugar. Officers of the association, in addition to Mrs. Richardson, are Clarence H. Bell, vice-president; Mrs. Otis Paddock, treasurer; Warren H. Thomas, secretary; Mrs. H. C. Aicon, Dr. J. C. Norton and Mrs. L. D. Pedrick, directors. To relieve pain, lift shoe preiiure and remove com*—get thete Booth- ing, ctuhioninf pads. mil TODAY! U? o ^O LIFEBUOY lFSNEW...diHerent...deughtful ITS «a zephyr-fresh, tangy scent will Wight you "Srich, creamy lather will give *>«« glorious zing and zip FIRST TIME I TRIED NEW2EPHXR-FRESH LIFEBUOY, I KNEW LIFEBUOy'S *&(>.'PROTECTION WON ME LONG AGO ...NOW THAT ZEPHYR-FRESH SCENT /WAKES THE SOAP'IVE ALWAYS THOUGHT THE BEST BETTER. STILL THAT SWELL, GLOWING-CLEAN FEELING.' MARVELOUS.' dass by Jtsclfi .. uscrs •?. for real cleanness MODERN THAT HEAD-TO-TOE DAINTINESS YOU GET FROM NEW ZEPHYR-FRESH LIFEBUOY. 1 SUCH GENTLE LATHER.TOO/ DEALERS KOW HAVE IT. ;t IN THE SAME FAMILIAR CARTON AT NO EXTRA COST TO YOU! India has made war risk insur- Local Fraud Case Argued LOS ANGELES, Feb. 17—(AP)— Oral arguments were heard in the ninth circuit court of appeals today m the mail fraud case of George Comes and Earl Canning of Phoenix. They were convicted in Phoenix m connection with operations of the Union Reserve Life' Insurance Company and its holding firm, the State Securities Corporation, with which both were connected. Cornes was convicted of mail fraud and conspiracy and sentenced to two years in prison. Canning was convicted of conspiracy to defraud and ordered imprisoned for one year. George T. Wilson and Charles A. Carson, attorneys for the defendants, argued that evidence at their trial was insufficient to support the verdict. Frank E. Flynn, United States attorney for Arizona, is here to represent the government in the appeal. New Mexico Death Blamed On 'Temper' SANTA FE, N. M.. Feb. IT- CAP)—A death, certificate was filed with the state health department today cryptically listing the cause of death for the deceased as "high temper". Officials said the general idea was clear, anyway. U. S. To Induct 105 Trainees A new class of 105 selective service trainees will be inducted today and tomorrow at Arizona district headquarters, U. S. Army Recruiting Service. This will be the last February induction class. Another class of 600 men, however, is scheduled to be inducted between March 3 and 12. Five enlistments were accepted at local headquarters yesterday. These were: Curtis Stewart, jr., Young, assigned to Mather Field; Jack H. Patterson, Wickenburg, to Las Vegas, Nev.; James L. Walter, Phoenix, to Philippine department infantry; McKay L. DeSpain, Safford, to Fort Bliss; Mansel E. Taylor, Safford, to Fort Bliss. New enlistment quotas of eight in the Hawaiian department Infantry and two in the Hawaiian department. Field Artillery, were received at recruiting headquarters Clubs To Hold Joint Meeting Burglars Get Prison Term Two Mesa men who stole a safe containing 54,000 and other valuables from the home of J. A. Bailie in Mesa New Year's Day and were arrested by deputies of Lon Jordan, sheriff, four days later, were sentenced to prison yesterday. They are Walter O. Parvin, 30 years old, a federal agricultural inspector's helper, 138 West First Members of the 20-30 Club will street, and Winston G. Carter,.23, be guests of the Phoenix Kiawanis Club at noon today in a joint meeting of the two service organizations in Hotel Adams. Fellowship, it is stated, will be the keynote of the joint meeting. The program will include experiments with liquid air by C. L. Rivers. These will include frying a steak on ice and similar feats. The musical program will include songs by Blythe Charlet Miller, contralto, who recently appeared with the Orpheus Club in its annual concert. Bob Becker, former president of the 20-30 Club, now a member o£ the Kiawanis Club, will preside. a truck and tractor driver, father of a two-year-old son, resident of Harvey Auto Court on East Main street. Superior Judge Dudley W. Windes sentenced them to one to two years' imprisonment for grand theft, to which they pleaded guilty. The pair, who said they never be- DR.W.A.AMMONS DENTIST Formerly In Fox Theatre Bide. NowaiSOSLuhrsBldg. Phone 3-4860 fore were "arrested for any offense.- assisted deputies in recovering tne safe from the desert near Perryville, where they had buried It, anil- all but $207 of the money as well as a $300 diamond ring and valuable papers.. Gtx-many has banned women bus drivers. You con nave HOT WATER Anywhere with BU-GAS Service. FIVE POINTS Free Parimf IES Settesi S&M CAMPS GIVE &ett&LSur/it at LOW COSTJ LE.S. Lamps are scientifically designed to provide the right amount and the right tana of light for all strenuous seeing tasks. They filter the glare from all light directed down- ' ward and allow enough light to be reflected upward to provide general illumination. I. E. S. Lamps are more attractive and give better light, yet cost no more than ordinary lamps. See them demonstrated today at your Favorite Store. I.E.S. LAMPS ARE AVAILABLE IN A WIDE VARIETY OF TYPES AND MODELS. PRICES START AT ONLY $4.95. EASY TERMS! SolcfBy Your Favorite Store and The Light Co. better-than-cver Zepbyr- lifebuoy, yes—but with the ;«fflereliable Lifebuoy virtues-those . odorizing and germ-removing .: **°Perties that have made lifebuoy i "* bath soap of millions! Warm *°°'ns and heavy clothing are sure . ^ Ises °f perspiration. Don't let B -O." follow. Use delightful new , f*Phyr-Fresh Lifebuoy in your daily *«» for all-over, all-day protection! ance compulsory AT 2:3O P. M. TODAY ON THE MAIN FLOOR We're In a holiday mood, celebrating the arrival of hundreds of yards of the season's newest Luxable fabrics. See them actually worn in our glamorous fashion show Today and Tomorrow. Every costume it easy to make, and you can get the patterns in our pattern section. All the fabrics have been UK- tested to Insure safe, easy washing. Almost an unlimited selection of new Talk-o-the-Town and La Jerz prints. Beautiful colorings. LUX FASHIONIST MISS SLOAN, about your style, color, or washing problems. Her hints will help you keep washables lovely loncer—as will. the. regular- sized box of Lux (one to a rustonjerj she'll give to every woman attending the show. Californian and Ha* waiian Exotic prints in bold, colorful designs of great beauty. Be sure to see a special mix-mat* Luxable wardrobe for youne Americans; -featuring Talon slide fasteners, at the Lux booth In the fabric department. The fashionist will be glad to show It to you.. . . MAIN FIX>OR FABRICS FASHION SHOW ON THE MAIN FLOOR Washington at Second Street

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