davidaulloa/AmericanStories huggingface dataset:
New Britain herald., 1923-01-13
BUCK IS NOT ELIGIBLE
Advises Governor That law Win Not Permit Him to Again Serve an Baara af Parsions. ~

Hartford. Jan, is,-John II, Buck ef this city has notified Governor Templeton that he is not eligible for Feappointment to the board of par dons. owing 10 the provision of the law which requires that no more than two members of the board, appointed by the governor shall be members of the same political party inelud' ing Afr. Buck. there are at the pres ent time three members appointed by the governor who are republicans MT, Buck was appointed by Governor Lake to succeed the late Lewis sper- ry. who died last spring. Mir. sperry was appointed as a democrat in 1908 and continued on the board by sue eessive appointments. until his death, Mr, Buck is a republican,
 II is held that the political limita. ton of the statute does not apply to interim appointments
 MT. Buck served as a member of the board at the hearing Of the plea of Emil Schutte. hanged last fall. and attended the regular semi-annual meeting Of the board in December.
New Britain herald., 1923-01-13
NO sTu.LMAN DECISION

Poughkeepsie. N. r.. Jan. ia.-su- preme Court Justice Morsehauser to- day reserved decision on a motion made for additional alimony and counsel fees for Mrs. Anne U. Still man. The application was for $780, 900 a year alimony and seo.oo0 coun- sel fees pending the appeal of the di. vorce action.
New Britain herald., 1923-01-13
WILL DEFEND CANTON

Hong Kong, Jan. 13 (By Associated Press. )-Gen. Cheng Chung Ming who shattered the government of the southern republic when his army en- tered Canton last summer, is reported remaining in Canton to defend the city against the new invasion of troops loyal to Sun Yet Sen, the deposed southern president.
New Britain herald., 1923-01-13
PLAN REFUGEES CAMP.

Manila, Jan. IS. (By Associated Press)-An American destroyer has been detailed to watch for the arrival of Admiral Stark's white fleet of Rus sian refugees which sailed from Shan ghai and is expected off Manila bay in a day or two. Governor General Wood has ordered camp prepared for the Siberian exiles.
New Britain herald., 1923-01-13
PLEADS NOT GUILTY
Morse Brothers Deny Charges Of con- spiracy to Defraud Government by Their Wartime Contracts.

Washington. Jan. IS. - Harry r. and Benjamin Morse. sons of Charles W. Morse. shipbuilders. pleaded not guilty to charges of conspiracy to de- fraud the United States in connection with the shipping board war contracts when arraigned here.
 Nehemiah H. Campbell, George NJ. Iurditt. Ruppert M, Much and Rich ard O. White. jointly indicted on con- spiraey charges. also pleaded not guilty.
 All were permitted to remain on bond pending trial before Justice Stafford in the criminal division Of the district supreme court February 6.
New Britain herald., 1923-01-13
NO AMENDMENT NOW.

Washington. Jan. i3.-President Harding and republican house lead CTS after a thorough canvass Of the situation decided today that this ia not the time to seek an amendment to the debt funding law liberaiizing the terms of settlements by nations owing money to the United States.
New Britain herald., 1923-01-13
LEGS ARE sTRAIGHTER.
New York Physician After Inyestiga-
 ton, Says Bow-legs Are Passe.

New York, Jan. i3.-Legs are get ting strnighter pr. Asa E. Davis oi the Lying-in hospital where 1000 babies are examined weekly. said to. day. Bowlegs are passe. pr. Davis said and legs of this Q type are fast giving way to legs like this: II. More over legs fashioned x and legs modelled ) are fewer than they were.
 Parents no longer teach their chill dren to walk too soon." Dr. Davis stated as the reason for the change. ''Bowleggedness is really caused by malnutrition; a simple deficiency in bone making calcium. Vitamines in good milk. fruits, juices, grains and vegetables are rapidly eliminating rickets in neighborhoods where health is easily available"
New Britain herald., 1923-01-13

1 ings which are added to surplus ane
 used to enlarge the business of thu
 companies have the effect of increas.
 ing future earnings, all of which ars
 subject to the l2H por cent. tax and
 capital stock tax. On the other hand
 earnings which are disbursed in divi. dends are scattered widely and to a considerable extent pay no surtaxes Finally, the values which are accru- | ing to individual shareholders in the form of corporation surpluses, are all bound n eoye under taxable review saonsr or later. A stock distribution,
 while not real dividend and there fore not taxable in itself. :. prelir- mary step to a real dividend, which is taxable.
 Moreover there would be a perma- nent loss to industry by a policy that would force the distribution of cor poration earnings into the hands of stockholders. So long as they are in the hands of the corporation they are bound to be used productiveiy, but dis- tributed to the stockholders in con- paratively small sums they arc likely to be used in considerable part to en- large living expenses, and never find their way back to productive employ ment. It must be remembered that there is always need for more capital in industry. The wants of an increas- ing population can be met only by im- provements in the industrial equip ment, which mean capital in the form of more equipment. It is unsound public policy to force corporation funds into the pockets of the indi- vidual owners.
 A Congressional Critic
 The Hon. James A. Frear, a Con- gressman from Wisconsin, in speech in the House of Representatives, has commented at length upon our discus sion of last month. His statements serve very we'll to illustrate the loose and misleading manner with which this subject is frequently treated. It says:
 The bank jus,ifes s77s. .ooo, ,ooo net profit in 10 years on the capitalization of Standard Oil of New Jersey, or 7K per cent an. nual net profit on $loo, ,ooo, ,0oo. etc-'
 This refers to the statement, pub licly made by Mir. A. C. Bedford, of the Standard Oil Company of New Jersey, that in the ten years ended with 1921 the aggregate profits of the com pany, before taxes, were the sum stated. He said in the same statement, however, that large as this sum might appear to be, after taxes it yielded an average of only l276 per cent. upon the company's investment during the period, and that it had been the policy | of the company for many years to re- invest in the business all its earnings | remaining after the dividends. These statements would naturally suggest to the careful reader that the company's was more than Sl00,000,0OG. Mir. Teagle, President of the com pany, in his statement made last month to the Senate Committee on Manufac- lures. of which Senator La Toilette is chairman, stated that the net assets of the Standard Oil Company of New Jersey at the close of 1911 were $2R,- )O0,OO0 odd.
 Earning Power in the Physical
 Properties
 Mir Bcdford's statement for 10 ,cars covered the time since the de- rec of the Supreme Court of thc ] Coneress:osi Record, December q
New Britain herald., 1923-01-13
ofeLors CALLS IT OFF
skipsish Declines la Hold Gaafersaos
 Miih Attorney General Goao

haslTen, La. Jan, ls.-fhe confer ehee between Attorney Gen, Coco and Captain J, h, sAipsilh, exalted ey- elops of the Mareheuse parish ku kluS klaR has been called off indefin. iiely, Captain skipsith said this after noon,
 There will be no conference be- tween myself and Mir Coco the klan leader said, fl could not see where any good could come out of it and therefore decided to call il on. Alter ney Gen, Coco appeared surprised at Captain skipwithis action,
New Britain herald., 1923-01-13
FRANCE SATISFIED

OHlcmI NUHiIHuHIVUe hNys Thht Rs-
 ports of Engineers Are Satisfactory
 Paris. Jan. 13 (By Associated Press). s).--The French cabinet with Premier Poincare presiding met this morning to consider the separations situation. An official communication regarding the meeting says:
 Premier Poincare. M. Maginot, the minister of war and M Le Trocquer, the minister of public works, report ed on very satisfactory information they had received as regards the in- stallation of our engineers in the Ruhr and the first conversations held with the manufacturers of the dis trict"
New Britain herald., 1923-01-13
FATAL TRAIN CRASH

Toledo. O.. Jan. I3.-onc man was killed and several injured when Baltimore and Ohio passenger train crashed into a freight train today a mile north of the ohio- Michigan state line.
New Britain herald., 1923-01-13
WANTS NAVY CALLED IN.
New Englanders Want Drastic Action to Curtail Rub Running Activity

Washington, Jan. l3.-A suggestion that the navy be called on to fight At lantic coast rum runners was made in a letter to President Harding from the legislative department of the na- uonal congress of mothers.
 The department said its action fol- lowed receipt Of numerous complaints from members of the organizations re- siding along the coast, especially. in New England states.
New Britain herald., 1923-01-13
COFFEE SUPPLY LOW.

San Francisco, Jan. 13.-Due to the late date at which the Central and South American coffee crop reached maturity, five of the largest coffee i'm porters in San Francisco announced today they were without visible sup ply for the first time in 25 years.
New Britain herald., 1923-01-13
DUTIES ON BEER LESS

London. Jan. 13.-The excise duties on beer and spirits for the last nine months of 1922 dropped 2s,5S2, 00U pounds compared with the corres- bonding period for 1921.
New Britain herald., 1923-01-13
UNION ASKS MODERATION

Berlin. Jan. 1s.-The miners union has issued an appeal to the Ruhr miners urging them to keep calm and to commit no excesses against the occupying troops.
New Britain herald., 1923-01-13
ACCEPT WAGE CUT.

Dublin. Jan. 13.-The dock workers decided today to accept wage reduc- ton of one shilling a day beginning next Monday. A strike has thus been avoided.
New Britain herald., 1923-01-13

French women dread pain much more than American. and prefer to be beautiful through bath "beautifiers' rather than by operation, says an ex- pert.
New Britain herald., 1923-01-13
WON'T PROHIBIT STRIKE

Cologne, Jan. 13.-tBy Associated Press) - The inter-allied Rhineland commission has decided not to pro- hibit the sympathetic strike called as demonstration against the occupa-
New Britain herald., 1923-01-13

(3) The value of the new stock tc the stockholders is in the expectation that real dividends out of the earnings of the corporation will be paid upon it, and whenever such payments arc made the stockholders must pay all the surtaxes provided by law, according to their respective incomes. There fore, the supposition that stock div idend" accomplishes an evasion of taxes is unfounded.
 Let it be clear that under the law as It stands now there can be no con- veyance of profits from a corporation to its stockholders without the latter being subject to the taxes levied upon personal incomes.
 If the recipient of a stock dividend sells his new stock he is required to account for any proportionate increase in capital value since 1913, when the income tax law went into effect. This would be the case, also, if there was no stock dividend but he was selling his old stock. The stock dividend" gives him nothing that he did not have before. It only splits up his interest into more shares.
 (4) When income has been sub jected to taxation once. what remains passes from the category of income to the general status of capital. It cannot properly be taxed again except as all previous accumulations of cap ital are taxed.
New Britain herald., 1923-01-13

no right to make profits on more thai
 that capital, no matter how much pro
 ductive property it actually owned ana
 was employing. This would near
 that if two companies started in busi.
 ness with the same capital, and one
 of them divided all its earnings annu-
 ally among stockholders while the
 other restricted its division in order to increase the productive capacity of
 its works, the latter would have no
 moral right to earn or ever pay divi- dends upon its capital accumulations. That would be violation of the prin-
 ciple upon which all thrift is based. It would mean that companies had no
 right to use earnings fort expansion,
 and the enforcement of that idea of
 course would put an end to that poi- icy. A merchant would have no right
 to use the profits of his business 10 en-
 large that business, or farmer to use his profits to buy more land, al- though either might invest in the others business or elsewhere. As a matter of fact, the industries of the country have been built up mainly out of their own earnings. Let any one read the history of the development of the cotton goods industry in the south or in New England, or of the shoe industry, or the clothing or steel in- dustry, or of any other industry, and, judge of the effects upon industry and employment, and upon prices and the standard of living, of general rule denying all proprietors the right to ex- pand their business out of profits.
 Example of a Great Merchant
 There died in Philadelphia a few days ago one of the greatest merchants of his time. He was respected by all who knew him, and seldom has there been such widespread participation in the tribute paid to the memory of a distinguished man. Mir. Wanamaker began his mercantile career with a capital of 5000. How could he have made his career if it had not been legitimate to increase his capital out of the earnings of the business3 He built up fortune estimated from $3c,0O0,000 upwards, not in speculation, but by the process of steady, gradual expansion in highly competitive line of business. His business in Philadelphia was incorporated in 1909 with a cap ital of $7,5O0,00O, but unquestionably the net value of its tangible assets was much greater than that. This excess was surplus, which it would have been perfectly legitimate to have capitalized by the issue of more stock. Such an issue would in no way have altered the actual value of the assets, or made any difference with the prices of goods sold in the store of the earn ings of the business. It would have been purely a matter of bookkeeping | and of convenience in distributing the certificates of ownership If he had incorporated it 90 or 70 years ago and made no change in the capitalization meantime, the increase of stock re- quired to represent the assets in the last year of his life would have been very large.
 An Example from the West
 Not to take examples exclusively from what Mir. Frear regards as the enemy's country, it is perhaps permis- II Al. I
New Britain herald., 1923-01-13

loA Of the RnhE Work sail esass tor 80 miautss beginning at n o'clock Monday,
New Britain herald., 1923-01-13
An Example from the West

Not to take examples exclusively from what Mir. Frear regards as the enemy's country, it is perhaps permis- sible to take one from the west and among his confreres in Washington. In the career of Senator Arthur Cap
New Britain herald., 1923-01-13
Corporation Taxes

I
 In pointing out that corporations pay normal tax of l2H per cent. upon net income, instead of the normal tax of per cent. up to $4,0O0 and 8 per cent. above $4,000 for individuals and partnerships, we should have added that corporations are subject also to special tax in the form of levy of $1 per Sl,000 on the market value of their outstanding capital stock. In determining market value," the Government takes into ac- count three considerations, to wit: (a) The net asset. of the corporation; (b) The quoted market value of the stock, if there have been sufficient transac- ton. to give them credibility; Co The capitalized value of net earnings at current rates of return in that line
 of business.
 Governmental practice is to take the highest valuation indicated by these methods. Evidently this tax applies to surplus, for surplus will increase the valuation by any of these methods, and when the surplus is large this tax becomes an important addition to the levies upon corporations which do not apply to individuals and partnerships.
 As explained in the former article, if graduated taxes were levied upon corporation incomes as upon personal incomes, the effect would be prac- tically to nullify the whole scheme of graduated taxation. because corpora ton stocks are held by persons of varying incomes, and largely by per- sons who are not subject to any of the surtaxes, or to the lower ones only. Capital Accumulations Increase
 the Revenue
 Any scheme that would force corpo- | rations to distribute earnings in or der that stockholders might become | liable for the personal income surtaxes wcl!d rot o1ly hamper and restrict the develcpsNnt of industry, but in thc iorg ran would reduce rather than increase the tax revenues. The earn
New Britain herald., 1923-01-13
Building by Means of Profits

Perhaps Mir. Frear considers that because this company had only $l00,- 100000 of stock outstanding it had
The Washington times., 1923-01-15
DISABLED VETS
SEEK BUREAU
CLEANUP
Want Civilians Replaced by
Veterans-Cramer Is De-
nounced by Cook.

The ousting of several thousand
civilian workers in the Veterans
Bureau was today demanded by the
Disabled American Veterans Asso-
citation, who declare that the vet
Grams Of the world war should nave
first call upon Government jobs IN
the Veterans Bureau.
Captain G.. Hamilton Cook, ma
tional commander of the Disabled
Veterans Association, this morning
declared untrue the assertion that
competent veterans could not be
found to fill the positions.
Commander Cook branded Charles
r. Cramer, head of the legal section
in the bureau as unfit for his posi-
ton. 1--WE do not think Cramer is
patriotiCally or temperamentally
suited to hold such an all-important
post in the Veterans Bureau as
head of the legal section" Cooks
statement declares, when he as
serts that none Of the sixty-four
places in his office can be filled suit
ably by former service men. He
casts a sad reflection upon the talent
of the 100000 who preserved this
nation"
The Disabled Veterans organiza-
ton has announced its opposition to
misunderstanding" on the veterans
payroll by men and their wives.
This practice should be broken up at
once, in order that destitute soldiers
and sailors may have an opportunity
to support themselves" the state
ment says.
The Washington times., 1923-01-15
INSTITUTE OF ECONOMICS
TAKES NEW BUILDING

A new eight-story office building
at "a and 26 jackson place, the
gift OF Robert S. Brookings, presi-
dent, was formally taken over to-
day by the board of trustees of the
Institute of Economics.
Although the staff has been or
ganiZed only a few months, the di-
rector, Harold G. Moulton, formerly
professor of political economy in
the University of Chicago, reported
that a number of Investigations
are nearing completion.
The trustees present at the an
nual meeting of the board on Satur-
day were David F. Houston, former
Secretary of the Treasury; Paul M.
Warburg, of New York; Bolton
Smith, Memphis: Whiteford r. Cole,
Nashville; Arthur T. Hadley, New
Haven; Edwin A. Alderman, Uni.
versity Of Virginia, and Robert s.
Brookings, Charles ID. Walcott and
John Barton Payne, Washington,
Trustees who were unable to at.
tend were President A. Lawrence
Lowell. of Harvard; Charles l..
Hutchinson, of Chicago: James J.
Storrow, Boston: Samuel Mather,
Cleveland, and President David
Kinley, of University of Illinois,
George Sutherland rendered his
of the executive committee because
of his recent appointment to the
Supreme Court.
The Washington times., 1923-01-15
Births, Deaths|
Phone Main $3.50 Until
2 p. II. Obituary Desk
ROBERT L. CHEW.

Services for Robert L. Chew, q
member of one Of the Districts old
est families, who died at his home
1912 III street northwest, yesterday
will be held tomorrow morning al
II o'clock at the Church. of the
Epiphany. Mr.. Chew had been III
for a long time.
A vigorous worker in church af.
fairs, Mr. Chew had been until the
time of his illness treasurer Of the
Home for the Incurables. His fam
lily was prominent in social circles
here for more than 100 years. He
had at one time been associated
with the Riggs National Bank.
He is survived by his widow and
four children, Lieut.. Comdr. Robert
8. Chew, u. 8. N; Richard s. Chew,
OF Philadelphia: Lieut.. John j.
Chew, U. s.. NJ, and Mrs. William
Davis Miller, OF Kingston, r. /.
Pallbearers will be Charles, G.
Horce. Charles j. Bell, William Cor
coran Hill, Col. Archibald Hopkins,
Rear Admiral Sidney HI. Staunton.
Brig. Gen. Montgomery M. Macomb
and Commodore Richard G. Daven-
port W.
The Washington times., 1923-01-15
VATICAN ENVOY
WILL LEAVE
MEXICO
Believes Expulsion Order
Wrong, but Will Obey
Decree.
Nv lnternatiOnal News Service.

MEXICO CITY, Jan. 15.-Mgr.
Ernesto Filippi. apostolic delegate
to Mexico. who was ordered expelled
by President obregon because he
took part in open,air religious cere:
monies contrary to, the federal law.
said he would leave tonight by way
of Laredo, Tex.
81 viii obey the order, although
/ cannot understand it and believe
that it is wrong" Monsignor Filippi
told international News Service. II
shall go to Washington from Mex.
leo City"
The apostolic delegate conferred
with Signor Monceigo, the Italian
minister.
There is much speculation over
the reason for the order in view OF
the fact that Mexico has long been
a strong Roman Catholic country.
1t is reported that both the Vati.
can and Italy will protest against
the expulsion order.
The Washington times., 1923-01-15
What's Doing Today
and Tomorrow

observation-disclosures Citizens Associa-
ton. The Highlands. p. m.
Meeting-An Society, Ma
tional Museum. s:1s p. m .oo,..,.,.
Daniel A. Payne school. 8 p m, $,
order HS Of sGa stFeSt
AZ csuns,l - 5.n.c:
Heights Baptist Auditorium 7:46 p. m.
Meeting-District Of Columbia Con-
gress Of Mothers. and Parent Teachers
Meeting-Insurance Club OF washing
Annual Meeting washington Chamber
Frank1fn Celebration Washington
Club Of Printing House Craftsmen. New
Ebbitt Hotel. evening.
Shakespeare, DR.. Paul kaufman. shake
tional Association Of Arts and Letters
Forum Luncheon-city Club. address
| by Theodore III. Price, OF New York, "Is
the Untee ssntss SS Bs H.o ssS R.s
Card partyGsrooklsnd Chapter. Or.
der of the Eastern Star. Brookland
Meetins-Music committee, Gridiron
Club. New Willard Hotel, $3.50 p. m.
Lunehson-Mrs. B.. J; Lloyd and party,
Meeting-French Section, Women's
City Club, % Jackson place northwest.
Z p. m.
Meeting-Gen. Nelson A. Miles Camp,
United Spanish War Veterans, 11O1
street northwest. 8 p. m.
Dance-Kallipolis Grotto Band and
Drill Corps evening.
Address-'"Tenth American" Bethel
Literary and Historical Association
Metropolitan A. M. d. Church, evening
INSTRUMENTATION Name Society
Hotel Roosevelt, evening.
Luncheon - Civitan Club, Lafayette
Hotel, 1890 D. m.
Meeting-vincent b. Costello Post
American Legion, Board Room, District
Building, p. m.