The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1921-05-13

M ,..fs% i
Of the Clayton act This repeal vou3d
have enabled railroad olkcirs 70 Con-
tinue to let repair and equipmenf con-
tracts to favored concerns. .
The repeal act faaled to get BY
President Wilson and two weeks after
the attempt the interstate commerce
commission ordered q formal invest
gation Of these wasteful contracts let
to insiders. Esch win now sit a. q
commissioner to Judge the propriety
OF those financial abuses which he
formerly wanted approved BY Law. /.
His appointment means further
dilutioc Of the interstate commerce
commiss.os, with the fnanciers' point
Of view just at the time when most Inn
portant decisions affecting users az
railroad service have to be made.
A NEW BUREAU PROGRAM
The new legislative program Just
adopted by the American Farm Blu
reau federation indicates that its lead
ers have made several good changes.
While year ngo they were boost
ing the Esch Cummins .railroad bill.
they now petition congress ito repeal
immediately the guaranty provision ii
section Is A Of the transportation nj
and to instruct the commission to
make readjustmeat Of railroad rates
back to pre-war basis in harmony with
other business"
They have also, after much fioun-
dering around, come out fatty against
the proposed sales taxes and against
repeal of the excess profits taxes. How
they could ever have had any doubt Is
to the evil Of these proposals from .
farmer point Of view Or Of the Esch-
Cumsnins act is a mystery. Ss
Congress is asked to use the profits
Of the federal reserve banks as q re-
volving fund for lending on warehouse
receipts and for livestock financing.
Regulation Of the packers is urged.
Opposition is expressed to tariffs on
lumber or fertilizer.
The federal farm loan hank is asked
to raise its maximum loan from $1O,-
600 to $4,000.
The federation is still opposed to the
Nolan bill levying federal tax Of j
per cent on land values in excess of
$4,000.
New tariffs are asked to protect
agricultural products equal to the pro-
lection given the products of city in
dustry. >H4, ISIS y, 1ss~
STANDARD OIL PROFITS
The Standard Oil company Of New
York, one Of the numerous tentacles
Of the great Rockefeller octopus, is
about to declare q $50 per cent stock
dividend
When this transaction is legally
consummated, the fortunate stock
holders win have cleaned up an aver
age of 200 per cent per year for eight
years and, thanks TO supreme court
decision, they viii have lodged the in
come tax on that Unreasonable profit.
This is the way it was worked:
Let us suppose John Smith was
lucky enough 70 own one share Of
stock in this company in 1912. The
par value at that time was 500. In
1913 a stock dividend Of 400 per cent
was declared. That increased the face
value Of Smiths holdings to $500.
He received dividends Of ct least 10
per cent a year on that valuation for
eight years, Or q total ef $40.
The proposed stock dividend Of $50
per cent will Increase the face value
Of his stock to 81 $50.
Add the SEQ received Is dividends
to the. 81 $50 and you have $3.50
realized in eight years on one .$1o0
share Of stock ii . monopoly. That's
ut the rate Of 200 per cent year.
!3*1 - = = -s:: fsr2
TIGHTER DRY Law OFFE2FD
rWlen AttoEney. General Palmer
ruled that beer md wine could Be pre-
scribed for ..''the mel" as his last inn
portant od5cial ct, he left considerable
trouble for tie next 2dnins stion..
The vets found some hope n The
drexs Of despair and the brsxeries be-
ssanl b prepare for m epadelaac g
The Reuuhlicans appear = believe
int Fssz,s 'opftlddon q tie vet .s!l
ct i souzd and thek ? nav r. 4
- Is he $3.50 g ia e & : ars =
Z b dspzitvd 6 bseK. y = = ! - q
f1a.ned : new IN f1E that, puzsse;; =
not only pusse1fs toe,aea zlaa E1ee
TIM b4t foreign nnpoaes - ue1 ue4l