The Elk Mountain pilot., 1920-05-27
"sTOck DIVIDENDS"


The decision of United States supreme court cfi-
ing that sock dividends" taxable the
era income tax law has released flood of stock dividends
having estimated value of two billions of dollars
Big corporations. instead of paying their sur
puses cash will issue them in the of "stock
dividends"
Some idea of what the supreme decision has
the large corporations is given in circular
issued by New York brokerage house. calling
partial list of companies and corporations large
surpuses which the brokerage house says divided
"stock dividends"
The list includes IA Standard Oil subsidiaries and 35
other corporations including of the largest
richest in the The total surpuses listed
to than two billion dollars these surpluses
divided expected that of money accumulated
from profits and which otherwise pay its share of
TAXATION into the u S. Treasury, will escape taation
altogether.
Such is the penalty nation must suffer for having
Supreme Court which has assumed the power declare
of Congress unconstitutional No other country ON
the face of the globe permits any such power be
ercised by its
In countries governed by parliamentary systems the
act of the Legislative body elected by the people,
law of the land until the authority changes it
Under system of government, can and
often does Tin this of five to four decision of the
cour) nulfy the will of the people expressed through
their Legislature.
Nowhere in the constitution is such a power dele
gated Supreme assumed by the court
under Chief Justice Marshall 1t will continue to be
ercsed until the people decide to stop 1t could be-
stopped by act of Congress-Fargo, D.. CourerNews-
Americans have been accustomed repressive meas
for long that if they do get free speech again.
they will continue talking of the their
mouths for long time released jairbrds do.
Now that Palmer trying raise the prices on hog
jows chuck, liver heels, pigs feet tails for
the packing trust he might hang out slogan his
presidential boom: Liver for labor siron stock
holders porterhouse for putocrats" let him be
that there nothing revolutionary in
such program.
The Grand Junction Sentinel writer evident
y his stuff days in advance of the happening
issue edtoraly deplores the fact that johnson
lost Oregon, and the front page the telegraph
that he carried that state by handsome plural
ity The item The editorial painfully at
variance with the facts
Elsewhere in this paper print resolutions
from the Miners Organization Crested Butte regarding
deaths which have there recently Naturally
know nothing of the real merits of the
what to be unpreudiced informed
that there is something of blame both Sides but we
feel that if officials had previously discharged their full
duty this last deporable death might have been avoided
Gunnison County people much put this week
when it developed that through the abandonment
Carbondale Marble no vote had been
had the High School Bonds thus nvaldatng
ton 1t that it will be through
the form of another election noY all because little
Marble against the bonds times over they would
still have carried No blame to attach anyone
for the accident and steps taken submit
the proposition again, and it will likely up July