The Algona Upper Des Moines from Algona, Iowa on September 17, 1930 · Page 10
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The Algona Upper Des Moines from Algona, Iowa · Page 10

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Algona, Iowa
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Wednesday, September 17, 1930
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Page 10
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w ''Ald[P_™ ^ at Humboldt 'earn haras ever'assemBled .US nott&eTft laws wffl gathlj* together Wednesday and '.Mutts* day.'fcepteaibei' >& and §g tit Httmboldt for the Humboidt Couftty tterby Days. There will be seven funning faces each day. The program starts &t one o'clock and the ball games at two- thirty. Wedne dsahyet thirty. Wednesday the ball game will be Duncombe vs. OlUndre City and Palmer combined* Martini and Lefty Schuman will pitch. Thursday the ball game will be Algona vs. Thor, With Lefty Wilson and Mace Brown pitching. The affair is under the auspices of the Humboldt Racing Association. Light* Blind Driver; Car Goes in Ditch, Roy Otis, who lives near Wesley, was forced to take the ditch last Wednesday evening When the lights of a road hog blinded him and the driver of the other car Crowded him into the ditch. The accident happened on the paving about four miles east of Algona. He was uninjured but the car was damaged to the extent of about one hundred dollars....... Methodist Church. Next Sunday is the last Sunday of the conference year and will be observed with a communion service at the eleven O'clock hour. All members and friends of the church are very earnestly invited to worship with us. There will be no preaching service on Sunday, September 28, as this is conference Sunday and the conference will be in session at Storm Lake. Sunday School and Epworth League, however, will meet at the usual hours. The League is planning a special program for next Sunday evening. They will nieet at six. o'clock for a fellowship hour and songfest. Light refreshments The Vere Connelly* t Now in Mason City. Mr. and Mrs. Vete Connelly of Mason City will leave Thursday for Oska- loose after a visit of a few days at the JOr. P. E. Sawyer hoffid. The Connelly's lived in Algona a few years ago. Mr. Connelly is now employed at the Mason City hardware. wfil be served followed by a service led by the cabinet with the subject, "Planning for the Future." All interested ydung people are invited. Algona Markets. Corn ...JfKV......... .$ .80 oats ....'8;.. V iv..-................ .31 Barley .........'. .48 Hogs 10.15 Eggs .•., 15-.26 Hens ... —12-.18 Springs 17-.21 ,. Green on tbe Fairway *!• It's a case of true love If be can emlle fondly, when sbe swings and * the iltOe ball roll 18 feet- News-Leader. i..«f«.^ .•>" * . f;,- 1 ',-!!' -,; ^Compare G, <Sp. J. Stalwart tires on' "" Jy With other first JUne tires. Goodyear All-Weather, TE J S, Boyal, Firestone Gum Dipped,; etc. G. & J. , 29x4.40 (5.55.5 installed.—Gamble stores. 14 i* ' - ' * J •, , THE INDIVIDUAL YET NEEDED BY BUSINESS By JOHN G. LONSDALE 0 President American Bankers ' Association <5OME) seem to think that the day of "* the individual in business has passed. But they are wrong. While the i n d i v 1 d ual may not attract such outstanding attention as he did in the days of old when Institutions were con ducted on a smal ler scale, he nevertheless is to be found in any large corporation, dominating the situation, giving John G. Lonsdale orders here, cooperating there and shouldering the responsibility of keeping a large group of lieutenants, captalrg and privates working in unison and moving forward under tho banner of progress. And all of these nre held accountable to the public because the public has entered into a partnership agreement with the corporation through purchase of stock. Welfare of Workers Even in the gigantic mergers that have taken place within the last two STATE TAX MEN AND BANKERSJ ACCORD Months of Negotiation Lead to Agreement on Changes Broad* ening Method of State or Local Taxation of National Banks. The Upper Des Moines-Republicah, September 11133d i .,-.,„ w-^.'fcii-i- ..^ —irfArtriat^'-^^'i^VrTr *iir~*ii*i*-|**fr*1fi¥ir^ l"-lrt itviffrtfri-i •-iTi^i^lt^-r Hi iiHLta..Mraaji^,^^j^.^g-gg^^ ^ ^ j ,.r... M n , fy- L _ -i " i~* & *" Mfl^WKM/^^ i. •",'"• • ,'• - v . •" • <* '''*«*••' I.** », £ years there remains more than ever the necessity for a leader, an aggres- slve personality, whose duty it is to see that basic principles are not forgotten, that the rights and privileges of the individual workers and the cus tomers they serve are as well provided for as in the smaller business units. It is gratifying to note that our corporations are giving more and more concern to the welfare of their workers. Numerous benefit organizations have been formed, opportunities offered for advancement of education and position, hospital service established and insurance and retirement pensions provided. This general humanitarian movement in reality is the outgrowth of analysis, which has disclosed the need of improving the well-being of our individual workers, realizing at the same time that our institutions will benefit. gggey Man Will Get You ou iJon^Wateh Out Unfortunately, a great deal of unwholesome merchandise is being eased off on the consuming public this year. As far as looks go, you can't complain. But constitutionally, it's very suspicious. It isn't strong. Its heart action is bad. It has very little chance of surviving to a ripe old age. But because it looks attractive nad the price Is low and it is being sold to the tune of the Insidious old refrain about market conditions and falling prices, it may persuade you against your better judgment. So be careful. Examine everything. Buy from reliable stores. Don't be taken in by false whiskers, no matter how handsome and plausible. Here at Chrlschilles & Herbst, we are doing our best to protect our customers, ourselves and our manufacturers by working the "Bureau of Standards" overtime. Occasionally, we get fooled, for we can't test every single thing that comes in every single day. But we know when wash silk is wash silk. We know our fabrics are fine and upstanding. We are as sure as it is humanly possible to be sure and you are at least sure that what you buy here will be as represented or we will make it right. And htat's something, nowadays. Miss Kcrr, our new corsetiere, has been making corset history around the department lately. You know, we have enlarged and redecorated our corset section and it's really a very pleasant and comfortable little place. Let Mass Kerr show you the new foundation garments. Styles change in corsets faster than they do in automobiles these days and an old girdle is about as passe as :i Model "T" Ford. Even though the skirts are longer, the interest in women's legs continues to occupy a foremost place. Whatever that means, we have three of the best hosiery lines in the United States right here — Phoenix, Kayser and Munsing, and if there is a shade or a size missing, it's only because we just can't kepe 'em all ni stock at the same time. From $1.00 to $1.95, you'll find outstanding values here. ' We've, built-in some attractive shelving on the balcony for our blanket stock and with all the new, bright color combinations of the new blankets, it makes a very pretty display.. Blankets are lower in price — and quality is u little better, it anything. Don't let anyone sell you a blanket at a BIG REDUCTION — there's something wrong with it. We know because we have to buy them. More new and snappy misses' dresses have arrived from the west- erncoast — it begins to look as if styles originated in Hollywood and not in Paris. All the girls can't hope to look like Gloria Swanson or Norms Shearer, but at least they can wear the same styles. And that's something. And we're not so sure but that some of our local girls couldn't make a name for themselves in the "bright lights". At least, come in and look over these new dresses. NEW YORK.—Months of conference and negotiation between an American Bankers Association special committee and the Committee of the Association of States on Bank Taxation have resulted in an agreement on a form of amendment to tbe Federal 'statute dealing with state or local taxation of national banks that "maintains the integrity Of the protective principles of the section and is satisfactory to the commissioners' committee," says the American Bankers Association Journal. Thomas B. Paton, the organization's General Counsel, In making, the an* nouncement eays that previously proposed amendments to the statute, which is known as Section 5219, have been opposed when it was felt their terms would enable any state to place banks in a tax class by themselves. "The law as it stands today," Mr. Paton says, "permits state or local taxation of national banks or their shareholders In one or the other of the four following forms: the share holders upon their shares,—a prop erty tax; tbe shareholders upon the! dividends,—a personal income tax the bank upon its net Income; the bank according to or measured by it net income. Only one form of tax cai bo Impo_sed, except that the divldem tax may" be combined with the third o: fourth form it other corporations am shareholders are likewise taxed. "The conditions permitted are: the tax on shares must be at no greater rate than on other competing moneyec capital; the Ineorne tax on sharehold ers must be at no greater rate than on net income from other moneyed capital; the tax on bank net income mast be at no higher rate than on other financial corporations nor the highest rates on mercantile and manu facturing corporations doing business within the state; the tax measured by net bank income is subject to the same limitations as the tax on net income of tbe bank but may Include entire net Income from all sources." States Seek Broader Law National banks and their shareholders are taxed In different states under a diversity of systems, he says. The U. S. Supreme Court has held that the low mlllage rate on intangible personal property is in violation of the present law where it results in national bank shares being- taxed at a rate greater .than that assessed upon competing moneyed capital. A number of states, unwilling to use the income methods permitted, had the alternative of either repealing the intangible tax laws or limiting taxation of national bank shares at the Intangible rate. Therefore they sought a broadening of the permissive provisions. Also, Mr.'.^Patoii points-"opt, a. Supreme Court decision held a state's exCiser^tasr onr- corporations invalid where it included income from Federal and local government bonds in the excise measure. This created doubt as to some state bank excise taxes. "Conferences have been held to reach some agreement which would protect the banks, satisfy the tax commissioners and avoid a contest in Congress," Mr. Paton says. "From the standpoint of the tax authorities, the main objectives have been an amendment which would permit certain states to retain their low rate tax upon intangibles and at the same time derive an adequate, but not excessive, revenue from national bank shares, and an amendment which would permit certain states to tax corporations on their net Income, excluding income from tax-exempts, and at the same time derive the same revenue from the banks as heretofore. From the standpoint ot the banks, it has been deemed imperative to maintain the protective principles of Section 5219. The Changes Agreed On "In the proposed amendment the existing provision permitting taxation ot bank shares no higher than the rate upon competing moneyed capital has been modified with respect to certain Intangible tax states only by a provi slon under which, instead of the moneyed capital limitation, the rate Bhall not be greater than the rate upon the shares ot other financial corporations, nor upon the net assets ot individuals, partnerships or aBuocIatlons employed in tho banking, loan or investment buslneuH, nor higher tlmn tho rate aBHcascrl upon mercantile, manufacturing and bunlncKH corporations with head oiflce la the «tat«, "Also an added fifth alternative par missive method, dCHlK'iutbd lift a upfc- ciflc tax, permits a utale, in plif:e u an ad valorem tax on bank Mliar«,-», tt add together total dlvidendo paid UK preceding year and the increase in capital, surplus and undivided profit*, lesa additions to capital or tturpluu paid In by stockholders, and to divide this total by the number of shares. Tho state may tax the shares based upon this amount, but not to exceed the rate on other corporations in proportion to their net profits. "This method is designed for states which have heretofore taxed national banks upon -their entire net income from all sources at a proportionate rate to that assessed upon business corporations. Tho amount which is the basis of the tax is the equivalent of the entire net income from all sources, but being assessed against the shareholder upon Ilia property in the shares and not n tax upon the bank, it is not open to the objection aa an indirect tax on exempt Income." Entertained Three Tables of Bridge. Df. and Mrs. P, fe. Sawyer entertained at thtee tables.-of bridge Tuesday evening in honor of MJ. and Mrs. Vere Connelly of Mason dlty who have been their house guests. Mr, and Mrs. Connelly won high pme, Mr. and Mrs. Bert Deal, sefiond high, and Mr. and Mrs. A, E. Michel, low. John Q. Lonsdale THE QUALITIES OF LEADERSHIP By JOHN 6. LONSDALE President American Bankers Association Leadership and success, in a general way, are synonymous. They are both founded upon simple codes of thought and afr> ' tion, upon the realization that ha who wins the laurels must be a doer, not a waiter, that application of energy, not time or luck, Is what counts most. A rabbit's foot Is a poor substitute for horse sense. 'Both success and leadership, If they be of the highest quality, are the result of service to humanity. Service has Jjeen aptly described as "the supreme commitment of life." Analyze the lives and times of all great leaders of history and you will find that those whose names are enshrined In the hearts of their countrymen are those who sought to render a needed service to the populace. Leadership, like success, need not. however, be International or national to achieve great renults. There Is room for each of us to be a leader In his community, in his work, in hia church, and in various organizations. One of the Indispensable qualities of leadership Is the ability to persist steadfastly in the face of discouragements. If George Washington had not possessed the quality of persistence, lie and his soldiers would never have survived the hunger and privations which were theirs at Valley Forge. We have too many young men and young women these days saying a job cannot be done. Too many spend beir time explaining why a thing can't be done, Instead of saying, with Irm resolve, that It can be done, and hen going out and doing it Anything hat ought to be, done is capable of eing done. And anything worth dong at all is worth doing well. The ellow who handles a little job in a ig way is always on the road to reater fields. DERBY DAY Wednesday and'Thin September 24-25 BANKERS STUDY CHAIN BANKING The Economic Policy Commission of the American Bankers Association has been specifically. lns|ructed^ by the ,eneral convention of the association o study and report on chain and group tanking developments, and also on the iroposal of. the Comptroller ot the jurrency for an extension of branch banking in the national banking sys- tern, to permit those banks to conduct jranches in the trade areas surround- ng their locations. R. S. Hecht, President Hibernla Bank and Trust Company, New Orleans, Louisiana, la chairman of the commission. The members are: George E, Roberts, Vice President National City Bank, New York, N. Y., vice chairman; Nathan Adams, President American Exchange National Bank, Dallas, Texas; Leonard P. Ayres, Vice President Cleveland Trust Co., Cleveland, Ohio; Frank W. Blair, Chairman o£ Board Union Trust Corn- pan, Detroit, Michigan; Walter W. &ead, President Foreman-State National Bank, Chicago; W. D. Longyear, Vice President Security-First National Bank, Los Angeles, California; Walter S. McLucas, Chairman of Board Commerce Trust- Company, Kansas City, Missouri; Max B. Nahm, Vice President Citizens National Bank, Bowling Green, Kentucky; Melvln A. Traylor, President First National Bank, Chicago; Paul M, Warburg, Chairman of Board International Acceptance Bank, New York, N. Y.j O. Howard Wolfe, Cashier Philadel -Ma National Bank. Philadelphia, Pennsylvania; Gurden Kd wards, American Bankers Association, New York City, secretary. A survey showing the extent to which chain and group banking has developed In the' United States has been- made and Issued in booklet form by the American Bankers Association of Now York City. Largest field of running horses ever assembled in northern Iowa. $1000 in purses and added money, Wednesday Ball Game Duncombe vs. Palmer and Gilmore City Combined. Pitchers: Martini and Lefty Schuman. • / Thursday Ball Game THOR VS. Pitchers: Lefty Wilson* arid 'Mace Brown. Seven running races each day.. Program starts at one. Ball game called at two-thirty.- General admission 50c; children under 12 free. Auspices Humboldt Racing Ass'n. A. B. Myles, president, Clyde Hart, secretary. estin WWVVWUVtf^ Tax Sale Notice. To Lute A. T. Stacy: You are hereby notified that on the 5th day of December A. D. 1927, the following described property situated in Kossuth county, Iowa, described as follows towit: commencing 15% rods south and 2 rods west of the northeast corner of section 11, township 95 range 29 west of 5 p. m., Iowa, thence 10 rods west, thence south 1% rods, thence east 10 rods, thence north 1% rods to the place of beginning was sold by the treasurer of Kossuth county, Iowa to W. C. Danson, and a tax certificate duly issued to said W. C. Danson who is now the lawful holder thereof. That the right of redemption will expire and a deed to said real estate be made unless redemption from said sale be made within ninety days from the completed service of this notice. Witness our hand this 8th day of September, 1930. 14-16 W. O. DANSON. ,new bats. We haven't been able to tell yet, whether It's KQlnjT to be felt or velvet for fall. At any rate, we have both at popular prices— $3-95, $5.00 and $5,95— and that is an important consideration- Another big shipment of those popular knitted, three-piece suits —in jUJ the attractive fall shades— grey, blue, brown, lavender ami e.— This is one of the biggest selling items of the new season and are'oniy $11.75, and $18.50. Ask your friend where she got her ten to one she bougnt lt nere V e n over the new pavement north of Algona and yw'fwufli ft ro uwi that " IttiUlon dollar corner?" Quite a thrill. he crowd* 1" Algona last Sunday, U does'nt look like folks had wJicre tbe old town is. ^ The purpose of education is to enlarge life. You will enlarge yours if you attend Mankato Commercial College, Mankato, Minn. Send for our catalogue. 14 German Lutheran Church. Corner of North Wooster and East Elm Street. H. Dubbe, pastor. There will be services in the German language next Sunday at ten o'clock. Think It Ov*r It Is easier to lay down good habits than to change bad ones. SECTIONS WHERE SAVINGS DECREASED A reKlonal analysis of the drop In tho nation'* uttvlngs deposits in banks, uw rfccciitly reported by tho American Ijaukeri* Anuoclatlon'B Savings Bank UivlBioi) In Its annual compilation for 1929 showing tbe first recession In national savings in tbe twenty years during which it hag published this data, reveals that ell sections except the New England and the Pacific States groups recorded losses. Tho published figures showed that on June 29, 1929, tbe total savings deposits in banks and trust companies ot continental United States stood at f 28,217,656,000, which was $195,305,000 below the similar total for 1928, when there was an increase of $2,300,000,000 Tbe regional analysis by state groups discloses, however, that the six New England states as a group gained more than $88,800,000 in savings and 152,984 in savings depositors, while tho seyen Pacific states as u group gained over $79,000,000 in deposits and nearly 278,000 in number of depositors. The gains in these two sections, however, were smaller than the gains recorded there for 1928. The sections which showed losses are the Middle A'.lantio States, Southern States, East Central States and the Wi:st Central States. One of the words that will soon be obsolete is petticoat;. CLASSIFIED ADS. The rate per word for advertisements in this column is 2c paid <n advance, 3c if charged, Oath must accompany all mail order*. Initials count as one word. Minimum charge, 26c. LOST—Double Eagle Masonic watch charm.—F, D. Mathes, Phone 430, 14 FOR SALE—Home grown musk melons, watermelons, acorn squash, We are taking orders for Hubbard squash. •E. J. Hodges, Phone 618. 14 WANTED— Immediately, energetic lady to work locally, positive salary of $3.00 per day for 120 days, Give telephone and address. White Mrs. Geo. Fltz, general delivery, Algona, Iowa. 14 FOR SALE—Baby buggy in good condition.—H, F. Schoby, 609 South Jones Street. "14* FOR SALE—One McOormick-Deer- Ing corn picker, one Oliver two-bottom plow and cobs. Inquire at this office 14-16 LOST—Brown traveling bag between Algona and Estherville containing clothing. Reward. Phone 98-J. 14 Reliable man wanted to call on farmers in Kossuth county. Wonderful opportunity. Make $8 to $20 daily. No experience or capital needed. Write today,—McNess Co., Dept, L, Freeport, Illinois. 14' Dances at Armstrong every Tuesday night beginning Tuseday, September 23, J930, until May 1st, 1931, Oome. brnig your friend. 14* FOR RENT—After October first, ne'v modern bungalow, conventiently located.—Wm. Aman, call 456. 13 FOR SALE—300 vigorous White Leghorn pullets. Call or visit.—Wellendorf Leghorn Farm, Algona. 13' BORROW MONEY—? have-a. few hundred dollars to loan on town property in good condition.—Q. A. Momyer. 14 FOR RENT—Desirable modern real? deuce. Close in.—Murtagh Bros. 13 Money to loan on town property.— M. P. Haggard, Iowa. 134f As I am leaving this part of the country I am putting a modem seven room house and Jot up for sale. WUl sell at great sacrifice.-The property is all dear and, conveniently located.—W. W. Pixler, Algona, Iowa, Phone 420. 9-tf FOR SALE—Phonograph with 30 records, $25, cost $150.00. Great snap. Call 230. 8 FARM LOANS AT 5l/j% INTEREST City residences and farms for sale. List your property with us. MURTAGH BROTHERS, Licensed Real Estate Brokers. "Algona's Wife Saving Station."— Kirch's Laundry. Phone 267. 50-tl GAINED EIGHT POUNDS-THAIS FAMED KONJOLA .:$' • Ailments Failed to Yield to :>: : ; Any Medicine until Modern Compound put to test, Notice of Probate of WilL In digtrlnt. nnnrt Wo. 3407, Septffi 1930. State of Iowa, Kossuth county, ss, s """ To all whom it may 'concern":' You " are hen by notified, that an instrument of writing purporting to be the last Will and testament of Annie A. Kriethe, deceased, dated July 10, 1915, having been this day filed, opened and reacT, the 13th day of October, 193.0, is fixed for hearing proof of same at the court house in Algona, Iowa, before the district court of said county or the clerk' of said court; and at nine oclock a. m. of the day above mentioned, all persons Interested are hereby notified and required to appear and show cause, if any they have, why said instrument should not be probated and allowed as and for the last/will and testament of said deceased. Dated at Algona, Iowa, September 10, 1930. CLARK OBTON, Clerk of District Court. CLARA REYNOLDS, Deputy. , Sullivan, McMahon & Llnnan, attorneys. 14-10' Irritating Situation Probably the maddest woman In Missouri recently, was tbe one who took.her husband by tbe ear and led blm over to the piano to show him a new burn he had mode on that useful Instrument with a cigarette stub, and then couldn't 'find the burn.—Kansas City Stnr. . f / ' ** •" MR. GEORGE GILLIAME. "For three years I suffered from stomach trouble, backaches, and constipation," said Mr. George Gilliame, 612 St. George street, Green Bay, Wisconsin. These ailments failed to yield to any medicine until I tried Konojla. The nature of my work requires good health and considerable strength. On several occasions I lost time from my work because of my ailments. I had pains in my back and the gas and bloating which afflicted me after every meal were terrible, I lost weight and strength and soon found myself taxed to the limit to attend properly to my work. "While taking the second bottle of Konjola, I felt myself getting stronger and more energetic, Up to this time I haye taken four bottles, and have gained eight pounds in weight, f suffer no more from those awful backaches and enjoy my meals because gas. no longer forms. Because of the benefit it has,brought me I know the sterling wortl) of KonJola and so recommend it tQM^iUUa" The fues of Ifonjcw contain thousands upon thousands pf such sincere endorsements. And what this amazing medicine has done for others it will do for you-~rfor wyyoif.v Konjola is frPld. In, AJgona, Iowa, at :, w, Lusby drug store, and by all the beet druggets in all towns throughout this entire secj;i(>n.---Adv. W Carload of Michigar Black Concord will be on the Milwau sible and get your grapes wWler they Isy^t, The crop is veyy shoVt, jj TEE 010) TIMS

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