The Matagorda County Tribune (Bay City, Tex.), Vol. 80, No. 36, Ed. 1 Friday, November 6, 1925 Page: 4 of 11
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6
alcohol from $2.20 to $1.10
respect
. ■ T:
effective 30 days after passage,
I
I
i
Advertise,—it pays.
firm.
481.
may deem
dealers expect anj improvement
IV
'o
tirio
New Orleans Rice
■
ft
bids
with
^8BHB
$
*
and
our
A Happy Prosperous
hearty good wishes for
'X
the Holiday Season and
New Year
the ’ New Year
may
6
and Pros-
Happiness
perity.
words
t
D. P. Moore Dry Goods Co
Fir At National Bank
Capital, $1 00,000.00
well as ’
f
I
Of Great Importance to
Texas Manufacturers;
New Income Tax Rates
Apply to 1925.
PROPOSED CHANGES
IN NEW TAX BILL
, Written opinions of the
appeals would be required
NOTICE OE APPLICATION FOR
ORDER OF SALE—ESTATES
is re-
other
H
H
d
1
one
first
F
Christmas
I
1
J
are
the
three per
the head of a family is to have an
exemption of three thousand five hun-
dred dollars instead of two thousand
five hundred dollars as under the pres- cember 3171927, to investigate and re-
1---. This will have the effect of port upon the operation, effects and
T TT yE extend to
w
the measure that it can be passed and tbe taxpayer might be no-suited
division of the board, but all
such cases must be reviewed by the
our friends
the number of taxpayers. There were
about 350,000 returns in 1924 with in-
and Honduras, I
fancy second'
and customers
we will do our best to please.
To all whom it has been our privilege to co>nt
-
M
’v- -
J
The last census shows there are
20,000,000 horses in the United States.
A single slab containing 100,000 feet
of granite was recently quarried.
With a new jack just invented it is
said one man can move 100 tons.
A building 250 feet higher than the
Eiffel tower is proposed in New York.
Seventy years ago the population of
Ireland was double what it is today.
The cost of traffic delays in New
York City is estimated at $500,000 a
day.
In 1923 French commercial planes
made 9270 trips with but six accidents.
The University of Kentucky puts
cross-word puzzles in the college cur-
riculum.
Coal can have a perfectly dry ap-
pearance and still contain 10 per cent
moisture.
The ordinary run of indoor workers
use their eyes 70 per cent of the time
they are at work.
------o—o------
New Orleans Rice
5 ■
HI
II
II
BRIEFLY TOLD
-
as friends and patrons;
I
I
I
I
I
Hili'
I
L ■
IB?
Gift Tax.
This tax would be repealed, but
the new bill retains the provision
making the declaration that a gift of
more than $5000 made without mone-
tary consideration within two years
of death should be taxable.
Capital Stock Tax.
This tax is retained, as
New Merchandise coming in constantly—your
especial attention is called to a dandy lot of
Boys’ Combination Four-Piece Suits, priced
right, and will please the most particular kid.
reduction in the tax on cigars is pro- The State of Texas,
posed.
been
A
____ ____ _ , umwvu.- __________ x-_______ re~
ber 7, the opening of Congress, and iates £O frivolous appeals whereby the
” board would be authorized where it
appears that a proceeding before it
has been instituted merely for de-
To all whom we hope in future to .J
pleasure of including among this ippreciatedX
number, and all others, we wish * *
A Merry, Merry
stamped taxes on sales on produce ex-
changes, playing cards, insurance
policies and steamship tickets, though
in some of these the rates have been
reduced.
Gains and Losses.
There has been no change in this
feature of the law except the com-
mittee has
the provision
method of
which the taxpayer has held propery
on exchange.
Effective Date of the Act.
As to most of the provisions of the
Act it would become effective upon
passage, though as respects certain
■ particular revisions the Act would be-
come effective 30 days after passage,
and the provisions as to capital stock often the
Federal Arbitration Law.
We have the following from one of
our directors: “As you well know’
time and money is wasted in litiga-
tion over commercial disputes and too
- are based
upon legal technicalities rather than
on trading ethics and business prin-
ciples I think that the Arbitration
Law should be studied by our asso-
ciation and if it appears feasible to
introduce it in connection with Texas
commercial disputes, a campaign
should be organized by our association
ye the
bring an abundance of
Large Reduction in
Taxes Amount tO;
$325,736,000 For Cal-
endar Y ear 1925.
Tax on Alcohol Reduced.
It was deemed advisable, to reduce
"elaborated and amplified the tax on
siuii with respect to the per proof gallon, which was the rate
determining the period for prevailing before the war, making one-
- - half of this reduction apply January
1, 1927, and the other half January 1,
1928. 4
2,000,000 more returns with an in-
come of less than $2000. The total
number of returns in 1924 was 7,298,- tFmakeTeport upon other investiga-
481.
Normal Taxes.
The new rates proposed
and one-half per cent on
$4U00 of taxable income;
cent on the next $4000, and five per
cent on all over $8000. The present
rates are two per cent, four per cent
and six per cent on comparable
amounts of income.
Earned Income.
On personal income the first $5000
would be automatically considered
earned, and $15,000 additional income
may be proven earned. The existing
limit is $10,000. All earned income
is to be subject to a deduction of 25
per cent of the tax due.
Surtaxes.
The new surtaxes start with 1 per
. cent on incomes of $10,000 to $14,000
and proceed by progressive brackets
by 1 per cent increase in each bracket
up to 20 per cent on incomes above
$100,000. Under the present law the
maximum graduated rate is 40 per
cent on incomes of more than $500,-
000.
tax and occupational taxes would be-
come effective June 30, 1926.
Administrative Provision.
The board of tax appeals is con-
tinued with a membership of 16, pro-
----------- visions are made authorizing the
tax revision bill which has been board to sit by divisions comprised
- - - ’------—— - - .
B and carried to all Texas chambers of
and commercial associa-
tions with the intention of educating
the business men as to its workings,
objects and benefits with the view,
of putting it in general
To the Sheriff or any Constable of
Matagorda County—GREETING:
You are hereby commanded to
cause the following notice to be pub-
lished in a newspaper of general cir-
culation which has been continuously
and regularly published for a period
of not less than one year preceding
the date of the notice in the County
of Matagorda, State of Texas, and you
shall cause said notice to be printed
at least once each week for the period j
of twenty days exclusive of the first
day of publication before the return
day hereof:
Notice of Application for Order of
Sale—Estates.
The State of Texas
To all Persons interested in the
Estate of John N. South, De-
ceased.
Know Ye: That Mrs. Sadie Eliza-
beth Thomasson, as administratrix of
said estate, has filed in the County
Court of Matagorda County, an appli-
cation for an order to sell the follow-
ing property of said Estate, to-wit:
213 acres of land lying and being
situated in the County of Matagorda,
in the State of Texas, and being out
of and a part of a tract of 217.23 acres
of land in the A. Rawles and Burnett
& Sojourner Leagues, and more par-
ticularly described as follows:
Containing 217.23 acres of land, less
a tract of 4 acres taken by the right
of way of the N. Y. T. & M. Ry. Co.,
now the Southern Pacific Railway
Company, the entire tract being de-
scribed as follows:
BEGINNING at the west corner of
the G. E. Cantzen tract and south cor-
ner of this survey, a stake in the cen-
ter of Caney Creek.
THENCE N. 45 degrees E. at 50
varas an iron stake on top bank of
Caney Creek, at 575 varas, a post on
the S. E. side of the mouth of a lane
for east corner of this tract.
THENCE N. 45 degrees 45 minutes
Our station, or rather our phone number, is
Twelve. Kindly make your wants known over
the wires, when not able to visit the store, and
$1, which was the rate fixed by thJ|
original narcotic act. Also, the taxj
on the sale of works of art and jew-1
elry is to be repealed, and a material
W. 1789 varas to the center of Caney,
crossing the railroad at 731 varas on
this line.
THENCE down the center of Caney
Creek with its meanders to the place
of beginning, and containing the quan-
tity of land aforesaid, and being the
same land conveyed by W. F. Kahle
and wife by deed dated October 18,
1909, which deed is recorded in Vol-
ume 27, page 595, of the Deed Records
of Matagorda County, Texas, to which
deed and record reference is hereby
had and made for more particular de-
scription of said property; together
w'ith all and singular the improve-
ments, tenements, hereditaments, ap-
purtenances, rights and privileges,
rents, profits and incomes thereto be-
longing, or therefrom arising, and ma-
chinery on said premises at the time
of the execution of a certain deed of
trust from John N. South and wife,
Sadie E. South, to Henry P. Drought,
Trustee, dated September 15, 1919, or
at any time thereafter put upon said
premises, for the conduct thereof,
whether attached or detached; and
that all rights and claims of, and
notes and obligations held by, the
administratrix under said contract be
sold, transferred and conveyed with
said land.
Which will be heard at the next
term of said court, commencing the
first Monday in January, A. D. 1926,
at the courthouse thereof, in the City
of Bay City, Texas, at which time all
persons interested in said estate are
required to appear and show cause
why such sale should not be made,
should they choose to do so.
HEREIN FAIL NOT, But have you
then and there before said court this
writ, with your return thereon en-
dorsed, showing how you have exe-
cuted the same.
Given under my hand and the seal
of said court, this 3rd day of Decem-
ber, A. D. 1925.
(Seal) RUBY HAWKINS,
Clerk County Court, Matagorda
County, Texas. 4-ll-18-25d
Passed by March 15 predicted.—The
new t
drafted by the ways and means com- of one or more members of the board,
mittee provides for an estimated re- pimjings of fact by the board are
duction in taxes of $325,736,000, for tQ be £reated on appeal as having the commerce
the calendar year 1926. Of this amount same effect as a jury verdict. Ap-
$193,575,000 will be the result of the peals from the decision of the board
reduction in income tax rates and the lie to tbe circuit Court of Appeals
increase in exemptions. When the and must be made within 90 days, ultimately,
bill becomes law it will be known as d mav not be returned to the board use-
the Revenue Act ot 1926. It is now on the ground o£ newly discovered We would be glad to.hear from on
predicted that It will become a Uw evldeHM. A taxpayer on appeal X bettoLnt of lndu“ rial
conditions in Texas.
TEXAS STATE MFG. ASS’N.
By G. M. Knebel, Executive
V. P. and Gen. Manager.
State Headquarters, St. Anthony
Hotel, San Antonio, Texas.
—0—0-----
Pointed Paragraphs
the Senate in time to reach the Presi-
dent and become effective before the ___
day of filing income tax returns of mission on taxation to be “composed
March 15, 1926. Whether this pro- of 15 members, 5 from the Senate, 5
gram becomes effective may depend from the House, and 5 members ap-
upon the interest of taxpaying citi- pojnted by the President from the
fcens. Material provisions of the pro- generai public, to serve without com-
posed measure are summarized as pensatiOn but to be reimbursed for ex-
follows: penses, which commission is to have
Personal Exemptions. a secretary and two investigators,
A single person is to be allowed an and to be supplied by the secretary of
exemption of $1500 instead of $1000 the treasury with quarters, office
as at present, and~a married man or equiPment and supplies. Such com-
h mission may accept voluntary serv-
ices. It should be the duty of the
commission, which would expire De-
New Orleans, La., Dec. 17.—Routine
sales limited trading in today’s rice
' L. Prices were unchanged but,
Fancy Blue Rose was quoted at,
6 3-4c to 7c; choice, 6 l-4c to 6 l-2c; ;
fancy Lady Wrights
7 l-4c to 7 3-4c, and
heads, 4 l-2c to 5c.
The buying trade was practically
withdrawn from tl 3 market and few
sales until after tie end of the year.
Interior points report fair domestic
demand for standard grades.
Futures were quiet, with bids lower.
------o—o--
ent law. This will have the effect of ’ _ I
reducing in a very material manner administration of the federal system
of income and other internal taxes, ----- ,
and upon proposals or measures market.
come of less than ^lOOO, and almost wbich might be employed to simplify
.7, 0^ jmprove Hie operation or adminis-
tration of such system of taxes, and
Connecticut with her Yankees led
the states last year in invention, one
patent being issued to every 1082 in-
habitants, while Mississippi brought
up the rear with one to every 19,463.
The Canton Christian College in
China has developed disease-free silk-
worms that produce several times as
much silk as the ordinary farm va-
riety.
According to Pliny, the Gauls of
Caesar’s time wore a ring on the mid-
dle finger, but the fashion of the next
generation changed so that finger was
left bare, while all the rest were
loaded.
The Stone Age Man of Britain was
ceiver enough to trepan a skull to
relieve pressure on the brain. The
teeth of the operating saws are so fine
that to see them one needs a magnify-
ing glass.
The Christmas tree, which has be-
come an almost universal symbol, and
is by most persons supposed to have
originated in Germany, had its origin
in Egypt at a period long before the
Christian era. The palm-tree is
known to put forth a branch every
month, and a spray of this tree, with
twelve shoots on it, was used in
Egypt at the time of the winter sol-
stice, as a symbol of the year com-
pleted.
i A whole radio program has been
broadcast from East Pittsburgh, re-
ceived by London, an dretransmitted
to British India, thus joining East
and West through the medium of the
ether.
The song, “The Sweet Bye and Bye,’p
composed in the lantern light of a
country store, brought a royalty of
$56,000, but not until 50 years after
its composer, Joseph P. Webster, of
Elkhorn, Wisconsin, had written it.
The Turkish headgear of yesterday
is being made into foot warmers of
today. The Red Crescent, correspond -
ing to our Red Cross, is collecting
discarded fezzes and having them
made into bed slippers.
The troubadour grasshopper is one
of the four or five insects capable of
making a noise. He has no voice. He
uses his hard wing cases as a sound-
ing board, drawing the shank of his
leg across them and thus producing:
his music. The katydid and the
cricket are likewise noisy, but the
devil’s horse is silent.
lie to the Circuit Court of Appeals
and must be made within 90
and may not be returned to the board use.^
on the ground of newly discovered
,--------- evidence. A taxpayer on appeal
before time for filing the income tax wou]d be required to give bond in the
returns for the year 1925, but this is amount fixed by the board not to ex-
doubtful. However, the new income ceed twice the amount of the tax in-
tax rates and exemptions are to go volved> where a decision is against
into effect as of January 1, 1925. tbe commissioner he must accept or
Revenue Bill, 1925 (H. R. 1). appeal, and may not assess, collect or
There is set forth below a sum- distrain until the board has f —
inary of the proposed Revenue Act for overruiefl by the Appellate Court.
1925 (H. R. 1) introduced on Decern- particular important provision
L__ r --- - ——— - - - ’
promptly reported to the House of
Representatives by the Committee on
Ways and Means. The bill consists of j~ag been instituted merely for de-
279 printed pages. It is planned that lay to access damages not in excess
the measure will be applicable to the of $50,000. T.A1A— ‘ - - -
income of the calendar year 1925, and board of a*,*.
it is the hope of those in charge of only }n the discretion of the board,
-------- ..X ___ .... ,
through the House of Representatives by
before adjournment for the Christ- _
mas holidays, and that it may^ pass entire board without further hearing.
Joint Commission on Taxation.
The Act would credit a joint com-
New Orleans, La., Dec. 22.—Rice
market was firm but quiet today; lack
of offerings gave the trade a good
undertone. Most of the small holders
of fancy and choice grades were ask-
ing top quotations. Fancy Blue Rose
was quoted at 7c to 7 l-8c and choice,
6 3-4c to 6 7-8c; fancy Lady Wrights
and Honduras, 8c to 8 l-4c; fancy
second heads at 4 l-2c to 5 l-4c, and
fancy screenings, 3 l-2c to 3 3-4c. Re-
ceipts were 975 sacks of rough and
4236 pockets of clean.
Futures were quiet,
slightly lower.
mittee provides for an estimated re- pindjngS of fact by the
the calendai’ year 1926. Of this amount
tions as the commission
necessary.
Reductions in Excise and Special
Tuxes.
The minor “nuisance taxes which
bring in a comparatively small
amount of revenue, are to be elimi-
nated. This includes the tax on the
sale of cameras, photographic films
and plates; firearms (except pistols),
shells and cartridges; cigars and cig-
arette holders, and pipes; coin-oper-
ated devices; and mah-jongg sets. It
is also provided that the occupational
taxes on brokers, proprietors of bowl-
ing and billiard rooms, shooting gal-
laries, riding academies, and on per-
sons carrying on the business of oper-
ating passenger automobiles for hire,
and the special tax on the use of.
pleasure boats (except foreign
built) should be removed as these
taxes are not equitaDle in their appli-
cation and produce but little revenue.
The tax o» physicians who administer
narcotic drugs was considered unrea-
sonable and was reduced from $3 to
Corporation Income Taxes.
No change is made in the present
12 1-2 per cent on corporate income.
Estate Taxes.
The rates reported follow the pres-
ent law in exempting an initial $50,-
000 and start with 1 per cent on the
next $50,000, going up cumulatively
to a total of 20 per cent on net estates
of more than $10,000,000. The present
maximum estate tax is 40 per cent.
The new bill proposes a credit up to
80 per cent on federal taxes where
there are state inheritance taxes paid,
which credit under the present law is
25 per cent.
Excise Taxes.
Manufacturers’ excise taxes are re-
pealed with the exception of the tax
on automobiles, parts and accessories,
which is made 3 per cent instead of
the present 5 per cent. Automobile
trucks, chassis and bodies, and trac-
tors are exempt. Passenger automo-
biles in the hands of dealers when
the tax should become effective 30
days after the passage of the act would
receive the same cut in taxes as those
sold on such salces. A 10 per cent ex-
cise tax is laid on manufacturers of
pistols. The other excise taxes of the 1
present law would be repealed.
Theater Tickets.
The tax on theater tickets
moved, but present tax on
amusements is retained.
Income Tax Publicity.
Under the present law the
how in the statute reading “and the
amount paid” would be stricken out,
thus eliminating present publicity
with respect to the amount of taxes
paid, which has been the subject of
much comment and serious criticism.
The provision with respect to the
collector maintaining lists of income
taxpayers is retained, as well as the
provision allowing the appropriate
committees of the House and Senate,
or any specail committee access to
income tax returns in executive ses-
sion.
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Smith, Carey. The Matagorda County Tribune (Bay City, Tex.), Vol. 80, No. 36, Ed. 1 Friday, November 6, 1925, newspaper, November 6, 1925; Bay City, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1304287/m1/4/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Matagorda County Museum & Bay City Public Library.