1*AGE EIGHT CATTARAUGUS REPUBLICAN; WEDNESDAY, JANUARY I t , » 3 S

OTTO,William Kilburn Dies Af­

ter Long IllnessBy MRS. GEORGE ARMSTRONG

The funeral of William Kilburn ■was held Sunday from the Philbrick funera l home. H eliad been a patient in the Salamanca hospital for several months. He is survived by a brother, Charles Kilburn, and a sister in the West.

Mr. and Mrs. Robert Wells o f Cot­tage were guests Sunday a t the home o f G. Armstrong.

Mrs. Ellen Sikes of E ast Otto was here Friday.

Miss A lta Hintz was home from W est Valley over the week-end.

Mrs. Charles Erdman has returned a fte r spending several days with her daughter, Mrs. Noel MacDonald, in Allegany State Park.

Mr. and Mrs, Ernest Trilby and daughter Jo Ann were guests Sun­day of Mr. and Mrs. T. P. Truby. They all attended the concert in theMethodist church a t Cattaraugus giv­en by the Houghton choir.

Mrs. Hans Mau is ill.Mrs. Mabel Philbrick and Mrs. *

May M. Armstrong attended a party a t the home of Mr. and Mrs. Homer Hall in Cattaraugus Thursday eve­ning.

The funeral o f William Paschen was held Friday from the Lutheran church with burial in the Lutheran cemetery.

Mr. and Mrs. Dobbins of Caledonia, Ont., were recent guests of Mr. and Mrs. A rthur Aust.

Miss Olive Dake has moved from Gulfport, Miss., to Biloxi, Miss.

W ard Barber visited his mother, Mrs. A lta Barber, over the week­end.

Mrs. A rthur Aust was in Salaman- co to attend the Home Bureau class on living room accessories.

NORTH VALLEYBy MRS. MARK WINDSOR

Mrs. Gilbert Marsh was in Little Valley Friday.

Clarence Skinner broke his leg Saturday.

M arie and E sther W estendorf o f Arcade spent the week-end with their parents, Mr. and Mrs. Carl Westen­dorf.

Mr. and Mrs. William Stadler and daughter Violet called at Arthur Glow’s Sunday evening, and a t Carl W estendorf’s. Violet Stadler returned to Arcade with Marie and Esther W estendorf fo r a short visit.

A rthur Glow and family and Mrs. August Glow visited a t the home of Floyd Tennies in Little Valley Sun­day. Mr. Tennies and family spent the evening a t A rthur Glow’s.

A neighborhood party was held a t the home of Louis Miller Friday night.

Mrs. Henr Rice returned home Sunday a fte r spending a few days with her daughter, Mrs. Fritz Opfer­beck a t E ast Otto.

Joseph Jessie returned from the Salamanca hospital Monday.

Mr. and Mrs. Elton Rice o f Sala­m anca called a t H enry Rice’s Sun­day evening.

Mrs. Henry Loftus returned from C attaraugus Thursday n ight a f te r caring fo r W illiam Cooper, J r ., whohas been ill.

Mr. anod Mrs. Charles Harvey of M osher Hollow called on JosephJessie Sunday.

Fred Fox and daughter Amelia were in Cattaraugus Friday.

Mr. and Mrs. Henry Loftus visited Sirs. William Cooper in Cattaraugus Sunday.

Mr. and Mrs. Fritz Opferbeck called on Henry Rice Sunday. Mrs. Rice returned home with them.

Nina Waite of Little Valley and Arline W aite of Ellicottville spent Sunday with their parents, Mr. and Mrs. Harold Waite.

NORTH LEON

HUMPHREYBy MILDRED HEALY

Mrs. Elizabeth Southwick and son, Jam es, of Great Valley were here Saturday.

Charles Krieger o f Farm ers Valley, Pa., called on friends here Saturday evening.

Donald Healy spent the week-end with Mr. and Mrs. Elm er Schwartz o f Springville.

The Sunday School class held a sleighride Friday evening,

Little John Martin of Great Val­ley visited Mr. and Mrs. Howard Cooney and family Thursday eve­ning.

Misses Mildred and Minnie Healy, Donald Healy arid Charles Krieger attended a dance in Sardinia Satur­day night.

Party Held at M eters Home for Newlyweds

By MRS. L. N* KYSORMr. and Mrs. Clifford Paine and

Mr. and Mrs. Orvis Prince, who were recently married, were given a shower a t the home of Mr. and Mrs.B ert Meyers Saturday evening. About 4*0 attended. Games were played and lunch was served.

X ura Smith motored to James­town Sunday.

Miss E tta Dow of Collins is visiting Mr. and Mrs. Holland Dow.

The funeral of Henry Chick, who died in the Jamestown General hos­pital was held Tuesday afternoon a t his home here. Rev. Timmis of Cherry Creek had charge. The bearers were B ert Meyers, Floyd Meyers Harvey Bromley, Frank Clark, Edward Link and EllsworthHodges. Burial was a t Lean. Those from aWay were Mr. and Mrs. E rnestRichter, Mrs. Mingel and Mrs. Straub o f Darien Center, and James Hiekox of the Cottage road.

Mr. and Mrs. James Hickox and family of the Cottage road, also Mr. and Mrs. Ellsw ofth Hodges of South Dayton, were guests a t Lewis Ky- sor’s Sunday, the occasion being the la tte r’s 68th birthday.

Mrs. Straub of Darien Center spent several days last week with Mrs. Pauline Chick.

Mrs. Ed. Chaffin and son Merle Chaffin, who have been ill are re­ported to be convalescing.

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LITTLE VALLEYBy MRS. LIZZIE G. HALL

Mr. and Mrs. R. H. P ra tt were in Salamanca Sunday.

Mr. and Mrs. F. C. Schultz of East Otto are spending some time with their daughter, Mrs. H. C. Edmunds.

H. G. Ashby is able to resum e hiswork a t his store, after several days’illness a t home.

Hiram Leach of Whig S treet who has been very ill, is considerably im­proved,

Mrs. Marion Backus was called to Silver Springs by the illness and death of her mother, Mrs. Ellen O’Donnell. Mr. Backus and daughter Gerry were in Silver Springs Monday to attend the funeral. Mrs. L. S. Greene has served as supply teacher for Mrs. Backus.

The Athena Guild meets this week with Mrs. Dorothy Dye. The program consists o f a paper on India by Mrs.Esther Wible and a book review of “K atrina” by Mrs. Luin Merow. The Athena Guild has ju st presented two volumes to the memorial library, “Madame Currie” and “ The Rains Came.”

The Sorosis Club will meet with Mrs. G. E. W aller Thursday a fte r­noon with a program as follows: “The F irst of the Stuarts,” Mrs. Waller, “ Colonial Expansion,” Mrs. Dunbar; “Rise of the Puritans,” Mrs. Ashby.

Mrs. Hannah Watkins, lecturer for Little Valley Grange, is arranging for a mock trial, “Alienation of Affec­tions,” to be presented in February.

Mrs. Dorothy Sibley and Mrs. H an­nah W atkins a ttended a concert by the Houghton choir a t Cattaraugus Sunday.

E. C. Merow, Miss E dna Merowand Mrs. Emerson Case were in Buf­falo recently.

Mr. and Mrs. Lee Blendinger and children visited his sister, Mrs. Ash- iley Ditcher in Maples.

Among those who attended the Houghton choir concert a t Cattarau­gus Sunday were Mr. and Mrs. George A. Straight and daughter, Waldo Rassas, Mr. and Mrs. C. G. Armstrong and daughter, Miss Onna- lee Armstrong, Mrs. Riley Whitte- more, Miss Alice Watson, Mr. and Mrs. Mark Jepson and Mr. and Mrs. Lee Blendinger.

GREAT VALLEY

WEST VALLEY

PLATOMrs. Edith Wulff and son enter­

tained Mr. and Mrs. Dobin of Cale­donia, Ont., and Mr. and Mrs. A. J. Aust of Otto Thursday evening.

Mr. and Mrs. Herman Brown o f Ellicottville were Sunday guests of Mr. and Mrs. Lewis Scharder.

Superintendent M arsh opened the roads here Monday.

Mrs. Edith Wulff and son Sylvestes spent Friday evening with Mr. and Mrs. Frank Langhan?,

By MRS. CHESTER EHMANMr. and Mrs. A. C. Ehman and Mr.

and Mrs. Norman Fagnan were in Buffalo Sunday.

Mr. and Mrs. Vincent Durphy and family of Salamanca were Sunday guests o f Mr. and Mrs. Casper Eh­man.

Mr. and Mrs. G. C. Williams spent Friday and Saturday with relatives in Buffalo.

Mrs. A rthur Preston of Franklin­ville spent the week-end and several days of this week w ith her parents, Mr. and Mrs. Charles Groff.

Misses Wilma Scott and Gladys Rowland were in Buffalo on Sunday.

The condition of Mrs. Howard Eh­man, who has been in the Buffalo General hospital fo r treatm ent fo r two weeks, is somewhat improved. Mr. Ehman and children, Ronald and Jean, visited her Sunday.

The P.T.A. will sponsor a party to be held in the high school auditirium Thursday evening a t 8 oclock. There will be games from 8 to 10 o’clock and dancing from 10 to 12. The pro­ceeds are to be used fo r dental and optical work being done among pu­pils in the grades.

The Evangelical W.M.S. will he entertained by Mrs, Henry Ehman Thursday afternoon. ‘

Baptist Y o u n g People ' Hold ‘Sleighride

By MRS. CHARLES NEWTONThere were eight present a t the

Meeting of the Home Bureau in the town hall Friday. The first lesson on reconditioning was given.

The young people o f the Baptist chrch held a sleigh ride to Ellicott­ville Saturday evening. Upon their return lunch .was served at the home of Miss Bessie Bowen.

Mr. and Mrs. E rnest Block and three daughters and Miss Charlotte Folts visited a t William Block’s in Springville Sunday.

Mr. and Mrs. Charles Zink visited in Bethel Sunday,

Mi*, and Mrs. Richard B. Jamieson of Derrick City and Mr. and Mrs. B urt G. Drake of Quaker Bridge vis­ited here Monday.

The Ladies’ Aid of the Baptist church m et with Mrs. W. H. Griffin Wednesday.

John O’Hern, who has been ill the past month, is improving. J. E. Jenks is staying with him.

Guests; at the ’home -of Mrs. Kittie Van Vlack the past week were Mrs. A lfred Cave and son H erbert and Mrs. Thomas Cave and two children of Celoron, Mrs. William Benson of E ast Randolph, Mrs. Elmer Van Slyke and Mrs. E. Hall of Salamanca and Mrs. Ida Bixby of Ellicottville.

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CATTARAUGUSEy MRS. JOHN ARMSTRONGBartlo Carbone, 44, was found

dead in bed Sunday a t his home by his family. He had been ill two years and had spent several months a t the Veterans hospital in Batavia. He was a t work in his shoe repairing shop Saturday. Mr. Carbone was born in Italy and came to America 24 years ago and lived with his broth­ers in Salamanca. He served with the United States Army during the world war. The funeral services wereheld Tuesday from St. Mary’s church. John Duggan of Salamanca sang. Mr. Carbone is survived by his Wife; one daughter and five sons and a brother, Antonio Carbone of Salamanca.

Mrs. Julia Ploger spent the week­end in East Otto with Mr. and Mrs. Claude Ploger.

Lew Babcock spent several days in Chicago on business.

Mr. and Mrs. Lynn Buskist were in Buffalo Saturday.

Mr. and Mrs. George Scott and children of D ayton were Sundayguests of Mr. and Mrs. M. Brougham.

Roma nGrannis spent Saturday in Buffalo. Miss Juvia Tromberg ac­companied him home and spent the week-end.

Howard Potter of Niagara Falls spent the week-end at home.

John Beyer is still confined a t his home by illness.

A surprise was given Mrs. Carl Weinke a t her home Tuesday after­noon in* honor of her birthday anni­versary.-

Mrs. C. Osbeck was taken to the Salamanca City Hospital Sunday for medical treatm ent.

Mrs. Fred Chamberlain is a sur­gical patient a t Salamanca.

Mr. and Mrs. Glenn Lord attended the funeral of his mother, Mrs. Ida Delahoy, a t Cherry Creek, Sunday.

Mr. and Mrs. L. Buskist , Mr. andMrs. E. Brass, Mrs. Lucy Buskist and Mr. and Mrs. Carl Weinke and sonsattended the funeral of W illiam Paschen a t Otto Friday.

The Foreign Missionary Society m et on Tuesday with Mrs. Bess Mowry.

Roman Grannis has been appoint­ed as chairman of the President’s an­nual birthday ball to be held on January 28th in high school auditor­ium.

The Houghton A Cappella choir gave a program Sunday afternoon in the Methodist church.

The Crescent class m et on Monday evening with Mrs. Ethel Luce fo r a tureen dinner*.

Mr. and Mrs. C / V. Young spent Monday and Tuesday in Olean and attended an annual insurance meet­ing.

Mr. and Mrs. Robert Shaw attend­ed the funeral of their brother, H ar­old Barnes a t Little Valley Sunday.

The Past Matrons club of Guiding S tar Chapter was entertained Wed­nesday evening a t the home of Miss Edna Campbell. Dinner was served.

Mr. and Mrs. Harmon Berg vis­ited Mrs. Alice Pritchard and chil­dren a t Wesley Sunday.

Mr. and Mrs. L. Forester spent the week-end with Mr. and Mrs. L. John­son a t Marshfield.

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BAY STATE

WILLS OFFERED F0RJPR0BATE

Letters of Administra­tion Granted on Es­tates in County

A transfer tax decree in Cattarau­gus County Surrogate Court in the case of the estate of John Yonder, of Olean, who died July 20th, fixes the gross estate a t $30,149.17, and the tax a t $77.72.

An appeal on the tax decree in the estate of Charles H ubert Merry, late of McKean county; Pa'., who died April 13th, was dismissed, and 'thetax affirmed upon a gross estate of $57,679.05, mostly consisting of roy­alties on five farm s in the town of Humphrey. The tax is $99.87.

The will of Amelia Parker, Ver­sailles, made Oct. 23, was admitted to probate January 10th. Mrs, Parker died a t Gowanda, Nov. 21st, leaving real estate valued a t $600 and $8,500 personal. Allen C. Parker, husband, has $1,500 and the use of all the rest of the estate fo r his life. He and Saidee Bell, niece, Versailles, are ex­ecutors. Mrs. Bell also has $1,500 payable a t the end of the life use. Other bequests payable a t the hus­band’s death are to Lewis Dankert, brother, Irving, his note for $1,200; to Hilda Hiller, sister, Ellicottville, $100; to Gladys House, niece, Buf­falo, $100; to A rthur Dankert, neph­ew, Irving, his $700 mortgage and the house and lot on Terrace street, Versailles; to Cora, wife of Arthur, $500; to Carl Dankert, brother, Ver­sailles, the residue.

Letters of administration upon the $1065 W ar Risk Insurance of James J. Williams, Randolph, who died a t Is-sur-Tille, France, December 29th, 1918, were issued to Ruth Williams Meleen, 43, sister, Randolph, Jan. 6th. The mother, Mary C. Williams, Randolph, to whom the insurance would have been payable, died May 28th, 1937. His brother, Martin H., Seattle, Washington, died Feb. 8,1933. The surviving brother is JohnI. Williams, 46, Falconer, who is ex­ecutor of his mother’s will. A rthur Lionel Williams, 38, nephew, 3535 Lowell avenue, Los Angeles, Calif., is also one of the next of kin.

The will of H erbert D. Cole, Ash­ford, was proved Jan. 13th. I t was made August 7, 1936, and names as executors his three children; Guy H., Ashford; Hazel M. Hamilton, 305 E. Henley street, Olean, and Ray, Ash­ford. Mr. Cole died December 9th leaving $1,000 real and $5,100 per­sonal property. To Guy H. are given his two mortgages' originally made fo r $500 and $2,000; to Mrs. Hamil­ton, the farm , subject to a lien for her $187 note. She is also given out­right her $400 note; to Ray, his $2,- 800 mortgage, on which is stated to be now due $2,000; the residue equal­ly to the three.

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MAPLESJanuary Birthday Party

Held at Eddy HomeBy MISS JANE COMSTOCK

The January birthday parties were held a t the home of Mrs. Lynn Eddy, Thursday afternoon. The honorguests whose birthdays come this month were Mrs. Lynn Eddy, Mrs.Ida W right and Mrs. George Harson.

Ml’, and Mrs. Hugh Ferrin and daughter Jane of Jamestown visited Mr. and Mrs. H, A. H ollister Sunday,

Floyd Darby of Buffalo spent Sat­urday and Sunday with his mother, Mrs. Ida W right.

The Home Bureau m et a t the Town Hall in Eddyville Tuesday af­ternoon fo r furniture reconditioning and refinishing.

A party was held a t the home of Mr. and Mrs. Ashley Ditcher Satur­day evening.

Mr. and Mrs. Burdette Cornell and Mr. and Mrs. Jam es Terhune of Westfield were Sunday guests of Mr. and Mrs. George Harson and Mrs. E tta Waite.

Mr. and Mrs. Eben Comstock visit­ed Mr. and Mrs. J. H. Bird a t Eddy­ville Friday,

EASTASHFORD

OLEAN ALDERMAN PROPOSES CITY TAX ON MOTOR

VEHICLES

■ Olean, Jan . 18— Owners of motor vehicles* making their living by using the streets of the city of Olean would be called upon to contribute toward lightening the load of the overburd­ened taxpayers, under a plan pro­posed by Alderman H arry P. Peter­son, Republican, of the Eighth Ward.

Commercial vehicles such' as trucks and buses, are using the city streets built and maintained by the taxpay­ers, and the owners are paying noth­ing fo r the use, according to Alder­man Peterson, who is of the opinion the taxpayers a te entitled to some return.

RED HOUSEBy MRS. MELVIN GODFREYMr. and Mrs. Roy Ostrander visit­

ed a t Jamestown and Ross Mills Mon­day.

Mr. and Mrs. DeForrest Can* spent Saturday evening in Salamanca.

Howard Ostrander returned to school Wednesday a fte r being con­fined to his home with the chicken- pox.

Mr. and Mrs. W. J. France of Fill- more visited here Sunday.

The Home B ureau m et a t tbe town hall Friday. The lesson was on re­conditioning furniture. A tureen din­n er was served a t noon. Mrs. Earl H olt, Mrs. H arry Campbell, and Mrs. Morrison of Q uaker Bridge w ere pres­ent. The next lesson will be held at10.30 Thursday, w ith a tu reen dinner a t noon.

Mr. and Mrs. J. A. W entworth of L ittle Valley w ere Sunday guests of Mr. and Mrs. A lbert Frink.

Mr. and Mrs. Melvin Godfrey and family visited Mr. and Mrs. Leo Rem­ington and in fan t son George Law­rence in Carrollton Sunday.

Mr. and Mrs. Cyrus Remington, Jr., and family visited in Carrollton Sunday.

Frank Bowley of Smethport spent Saturday with his brother, Paul Bow­ley, and sister, Mrs. Nevil F rance.

By MRS. MILLIE TUOTOFire destroyed the house owned by

Mrs. Anna H art of Salamanca early Friday evening. Eugene Stacey, who occupied the house, was not a t home when the fire started so was no t able to save any of their furnishings.

Miss Ida Tuoto spent Friday a t Randolph.

James Cargill, Jr ., has employ­m ent in Buffalo.

Mr. and Mrs. Carey Goodrich were in Salamanca Saturday.

-—■■ -o ........ ■■■ "’Phone 16, Springville fo r QUAL-

ITL CHICKS and PULLETS a t low­est prices. The Springville Hatchery has been selling thousands o f chicks each year fo r the past 15 years.

Adv. 1-12 12t

QUAKER BRIDGEBy MRS. JOHN HOLT

Mrs. Blanche Cain and son Robert, Mrs. Douglas K ropf, Miss Mabel Mor­rison and Frank Morrison were in Buffalo Wednesday of last week.

Mrs. H arry Campbell, Mrs. Claude Pierce and Mrs. John Holt attended a Home Bureau meeting at the town hall in Red House Friday. Mrs. Jam es Clarke of Otto gave the first of a series of lessons on the recondi­tioning and refinishiii|; of old furni­ture.

Lyle Kinney spent last week with his sister, Mrs. Claude Pierce, leav­ing Monday fo r Busti, where he has employment.

Lee Morrison and Lewis Clarke were in Randolph Friday.

Mr. and Mrs. Paul Cain and son Maurice spent Sunday a t the home of H arry Woodmancy in E ast Randolph.

Katherine Marsh spent the week­end a t her home in Randolph.

Mr. and Mrs. Claude Pierce were in Ellington Sunday.

Mr. and Mrs. John Holt spent Sun­day with Mr. and Mrs. Stewart Schultz in Salamanca.

Mr. and Mrs. Harry Campbell spent Sunday a t the home of Harold Fellows in Napoli.

WILLOUGHBYBy MRS. LOUIS REED

Theron Rust is seriously ill with heart trouble.

Mr. and Mrs. William Hogue visit­ed his parents, Mr. and Mrs. Glen Hogue of Hinsdale Sunday.

Mr. and Mrs. Clyde Curtis of Ma­ples visited here Sunday.

The Golden Rule Society will meet with Mrs. M. E. Rust Thursday.

Mrs. Zadio Melby of Killbuck was in town collecting taxes one day last week,

George Raecher, Sr., cut his thumb quite badly with an axe recently.

Essentials of Recovery.By GUS W. DYER ^

Professor of Economics and Sociology, Vanderbilt Vnivet£ii%We have not recovered from the

depression of 1929, and cannot recov­er until we meet the essential condi­tions of recovery. The prosperity we

h av e had fo r th e p a s t few years was built up on “dope.” As the “dope” dies out we find o u rse lv e s on the way back to the point from which we start­ed, much weak­e r and m uch poorer.

T he Federal g o v e rn m e n t, fro m th e b e ­g in n in g , hasfailed to acceptth e e s se n tia l

conditions of economic recovery, and continues to repudiate nature’s lawsfor restoring business to a normalstate. Those who take up arms againstnature always lose.

Constitutional industrial freedom is based on complete cooperation with nature’s laws in the field of business. The great defence of freedom is in the fact that it gives nature a chance to function, and nature is always con­structive. Nature is the great builder, the great restorer.

When business in general oversteps the bounds of legitimate, constructive risks, natural forces bring about a radical and often sudden reduction in values. Heavy losses and a radical curtailment in business follow. The remedy is violent, but it is the only remedy yet discovered that is effec­tive in bringing business back to asolid foundation.

With the general fall of values, the prices of commodities and services fall with the market. This general fall in the prices of commodities andservices is nature’s plan for recovery,and is absolutely essential to recov­ery. It is this fall in prices that en­ables business to continue on a low cost basis and enables consumers to continue to buy. The low costs inspiremen to build and develop new busi­ness enterprises, and this, of course, increases the demand for labor and

commodities, and this raises prices and wages. Thus business is soon, brought back to normal In every, other depression in our history th* government kept hands off and per­mitted the constructive forces of na­ture to function, under the protection of constitutional industrial freedom In every case business came back stronger than ever before.

The government from the begin­ning of the depression has made it im­possible for these forces to function. When nature said prices must be re­duced, tlfs government raised prices. When nature said wages must come down to the market value point in, order to rise again to a normal condi­tion, the g o v e rn m en t arbitrarily raised wages above the high pros­perity level When nature said prac­tice strict economy, the governmentled a great spending spree.

In 1932, the national debt was $18,~ 000,000,000. Today the debt is $37,000,*000,000. Senator Glass says it is really$40,000,000,000. The fight against na­ture’s forces of economic recovery has been costly in the extreme. How­ever, the government can have such consolation as it may find in the fact that thus far it has been successful in defeating the natural forces of recov­ery, and holding business on the lowplane of doubt, uncertainty, and inac­tivity.

The depressions of 1873 and 189$ were world-wide in extent, and were extremely serious in this country. In each case the government confined it* activities to its constitutional func­tions and permitted natural forces to function under constitutional indus­trial freedom. We came out of these depressions stronger than we had ever been before, with practically no increase in the national debt.

Business is able and ready today to move out of the depression, and enter upon the greatest era of industrialprogress this country has ever known. It is standing still because the gov­ernment continues its futile war on the natural essential forces of recov­ery and refuses to permit business to function under constitutional indus­trial freedom. The government itselfis the one great obstruction to busi­ness recovery.

The “Sore Thumb” TaxB y H A R LE Y L. LU TZ

Professor of Public Finance, Princeton UniversityThe principal sore point in the pres­

ent federal tax scheme is the undis­tributed profits tax. This tax has “stuck out like a sore thumb” ever

since its enact-m e n t s o m ee i g h t e e n months ago. Thefirst thing thatshould be done, in undertaking to correct theerrors and de­f ic ie n c ie s of f e d e ra l ta x a ­tion, is to repeal it, wholly and u n c o n d itio n ­ally.

T he ta x on u n d istrib u ted profits is bad fo r business ,

bad for government, bad for labor and the small shareholder. In fact, there is difficulty in finding any one for whom it is good. Why keep it?

It is bad for business because it penalizes severely all retention of earnings for purposes of expansion, reserves, and provision against an un­certain future. In this respect the small concern, the new concern, and those who are pioneering in the ex­perimental fields where success is as yet highly uncertain, are the chief sufferers. The old, well-establishedbusiness unit, with a large backlog ofreserves already laid by before thetax became effective, is adversely af-fected, since no business can ride in­definitely on its past achievements.But such a firm can hold up under itfor a time far better than one that has,as yet, nothing laid by.

The administration has decided that monopoly is to be the goat for the cur­rent, or “Roosevelt depression,” but the tax on undistributed profits is the surest way of handicapping new and struggling concerns, and thus it is the surest way of enabling the old, large, strong firm to become monopolistic, if it is so inclined.

The tax is bad for government. It compels distribution of all profits as earned, by large and small, old and new, concerns alike. There will be more tax revenue now, a little more, though not as much as the “yes men”

said there would be when the schema was first hatched, but before long there will be less revenue, because this tax is stripping the corporate treasure chests bare as it goes along, It is hard to imagine a more short­sighted fiscal policy. In order to gab a little more revenue now, and so tmake good at least once on the longdeferred promise to balance the bud get, there is no hesitation about de­pleting the source of future businesistability, hence of future tax rev­enues. Worse still, there is no concern about robbing the capital fund of one j important source of supply, namely { the eorporate savings. j

Finally, the tax is bad for the little fellow, the man who works for th e , big company and the man who owns j a few shares of its stock. In the next { depression, or even in the course of; the present one, business operations* will slacken more quickly because of ‘ the impairment of reserves. Unem­ployment will be more severe, be­cause there will be less of a reserve backlog to absorb the red ink of cur­rent operations.

The little shareholder has been get­ting some extra year-end dividends the last year or so, because of this tax, but he will have to wait a long time for any more dividends when busi­ness reaction sets in. His company.has been stripped clean of all extraearnings by this tax, on the theorythat the government must have itscut, its pound of flesh, out of everydollar of net income earned, as soonas it is earned.

Over and over, Mr. Roosevelt hs*flared out against speculation. Yet thistax, which he proposed and forced through Congress, has increased tre - ( mendously the speculative hazard of all business. Even the most cautious, investor becomes a speculator when* he buys the securities of a business! which is reduced to a “hand to mouth” financial existence. The undistributed; tax has tended to put all business jon’ a “hand to mouth” basis, for the prin-. cipal element of business stability ha* been taxed away.

Keep this tax, and we shall all b* speculators—the government as io revenue, laborers as to their jobs, lit­tle investors as to the security of their savings.

By MRS. MAGDALENE WULKANRaymond Starks returned to school

last week a fte r several weeks' ab­sence caused by sickness in the fam ­ily.

Mrs. Felix Moritz o f Iowa and Mrs. J . Marco of Minnesota spent Friday, Saturday and Sunday with their nephew and cousin, Henry Mo­ritz and family.

Mr. and Mrs. B. Starkey, son Har­vey and wife and Harold-Schell of Buffalo spent the week-end here. Mr. and Mrs. B. Starkey remained fo r a longer stay.

Mr. and Mrs. John Starks and daughter Doris were In Springville Thursday.

Mr. and Mrs. A. W hite and chil­dren of Collins Center spent Sunday with her brother, H enry Moritz.

Mr. and Mrs, H erbert Hedges and fam ily o f Masonville we^e in town Sunday.

— .— - o - -----Bankruptcy Petition Filed

Buffalo, Jan. 18—Listing liabilities at $2,960.44 and no assets, ClarenceD. Page, Franklinville, Cattaraugus county has filed a voluntary bank­ruptcy petition in Federal Court*

Marriage Annulled on Ground Wife Not of Age

An interlocutory decree annulling in three months from its entry in Cattaraugus County Clerk’s office January 11th, the m arriage on the ground th a t the wife was not o f 'the ! age required by law, was entered in * favor o f Evelyn Loop Graczyk, Olean, against Anthony Graczyk, Randolph. The m arriage was a t Sal­amanca, August 8, 1922. Mrs. Grac­zyk was born March 31, 1905, and did no t become 18 years of age un­til March 31, 1923. Testimony was th a t she never lived with her husband a fte r the 1st o f January, 1923. There are no children.

LAMONT DENIES RECESSION IS DUE TO CAPITAL STRIKE;

SAYS CAPITAL LOCKED OUT*

Armed Bandits Rob GrocerDunkirk, Jan , 18— H arry Grzegor-

zewski, proprietor o f a grocery store a t 363 Lake Shore Drive East, was held up by two masked bandits in his store Saturday night and robbed of $48.52.

i Retired Erie Worker Die*Jamestown, Jan. 18—-Charles I.

Hegburg, aged 71, retired Erie rail­road employe, died a t bis home in Kennedy Sunday as the result o f a stroke.

The finest way of all to get strong, healthy chicks is to drive over to THE SPRINGVILLE HATCHERY, No. 8 Franklin St., Springville, N. Y., and take them home in your ear*

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Philadelphia, Jan. 18 (JP)—A Mor­gan banking partner, Thomas W. La­m ent, declared the current business recession was not caused by any “strike” o f capital.

‘‘Quite contrary to the views ap­parently held in some quarters,” the financier said, “the entire Business community has, according to my ob­servation, made the most strenuous efforts to maintain the improvement th a t m arked 1936 and early 1937.”

Lamont spoke yesterday a t a lunch­eon meeting in connection with the University o f Pennsylvania’s bicen­tennial endowment campaign.

“In a g rea t country like America, i f enterprise is to continue to ad­vance,” he continued, “fresh capital m ust be made constantly available fo r it. Now the capital m arkets, the fields o f private investment, are prac­tically closed. T hat does no t mean th a t there is a strike of capital.

“ There is ju s t as little reason in such a phrase as there would be to say th a t 30,000 employes who had lost their jobs because of slack orders had gone on strike. No! Would It not be nearer the m ark to say, no t th a t capital was on strike, bu t th a t i t had been ‘locked oat’ by such things as th# surplus profits tax whieh ha* giv­

en warning to investors th a t no long­er are businesses to be perm itted to conserve a fa ir measure o f th e ir earnings fo r bad tim es; ‘locked out* by the continued unsettlem ent o f th* problems of the public utilities, th* needs of which, fo r new capital to be expended in m aterial and labor for improvements, are crying aloudand cannot be answered?”

Lamont, who has taken p a rt in r e ­cent W hite House conferences with President Roosevelt, financial and In­dustrial leaders, said, furtherm ore, th a t he could not “but believe that * good p a rt of the current business re ­cession arises from the bewilderment and loss o f confidence among o u r cit­izens, owing to the general attitud* of distrust towards business, which in the last five years has been culti­vated in this country,”

———Found Frozen to Death

Lockport, N , Y., Jan . 19 (ffj—John Pet'ka. 73, a laborer, was found dead today in Ms unheated home. Coroner F rank A. W alter said he waa f roseato death.

~0-The Spnngville Hatchery will hat

your eggs mid charge only 3 5Ac t each chick you receive. The Iow< price we have charged in 16 year*.

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