Ligonier Banner., Volume 59, Number 23A, Ligonier, Noble County, 27 July 1925 — Page 2

Storing v Prosperity @~ The squirrel is smart enough to gather his winter’s supply of food durng the months of plenty. , | What the beast does by instinct, man has learned to do through experience. Are you storing your dollars in a safe place for future needs? ‘ We pay 4 per cent on savings Citizens Bank “The Bank by the Clock”§ '

J. L. HENRY J. C. KIMMELL Home Realty and Investment Co.

FARM LAND BULLETIN

40 acre farm 'in LaGrange County. 4% miles from Topeka. $2BOO will buy 40 acre tract in York Township. 40 acre farm 4 miles south west of Ligonier. | 40 acre poultry farm near Lake Wawasee. Will sell or trade for larger farm. 40 acre farm near Cromwell without buildings. 356 acre tract on Crooked lake Steuben County. 18 acres of land .adjourning town of Cromwell. No buildings. 40 acre farm 134 fn’iles south of Cromwell. Good buildings. 41 acre tract on Lincoln Highway mnear Kimmell. Good buildings. Terms. : 6 acre tract within 1 mile of Ligonier, ] \ 515 acre tract with buildings near Cromwell, ' 10 acre tract on Toledo and Chicago Pike near Ligonier. - .80 acre farm south of Kimmell. Good soil and all yp-to-dae buildings. Terms. . [*¥ 5 145 acre farm on Lincoln Highway. 25 acres good onion land. Good buildings. ;

Phone 165 Second Floor Sheets Bldg. Ligonier, Ind.

Read the Advs.

The quality of SAFETY must be exceptionally conspicuous in any ' ‘ mortgage which we offer for sale. First mortgage loans which we buy e - and sell are secured by improved real estate in Chicago and its suburbs. ‘ " : We should like an opportunity, with- | . out obligation on you, to tell you ' ~ - of the conditions which! we impose fi in order to insure absolute safety for our investment customers. it | Represented ny | Farmers & Merchants , it la s - Edwin D. Smith

75 acre farm on the SpartaPerry Township line. Priced to sell quick, 120 acres within one mile of the Lincoln Highway. 54 acres onion and mint land. Private lake. v 2815 acre tract near Indian Village. Fair buildings, : 162 acre farm joining City limits of Ligonier. ) 257 acre stock and grain farm in Sparta township. s 240 acre dairy farm fully equipped. Liberal terms. 154 acres in Qrange Township. Two sets of buildings. Priced to sell. 1021% acre farm north of Pierceton. Good buildings and soil. Would trade for smaller farm. 60 acre stock and grain farm within 1 mile of Ligonier at a bargain. - 80 acre farm in Elkhart township. Fertile soil and good buildings. | 70 acre farm near Diamond lake. 80 acre farm on State highway 2 miles north of Albion, 63 aci'e onion and mint farm in York Township. 45 acres under cultivation.

I 8 LIGONIER BANNER, LIGONIER, INDIANA

The I.igomer Banner . . ESTABLISHED 18ee.£ Published by ¢ “he Banner Publishing Company _W. C. B. HARRISON Editor SlUßee e S R e Published every Monday and Thursday and entered inm the Postoffice at Ligonier, Ind., as second elass matier. ! e —————————————————————2 _ Ford Sales for Jume. = A new June sales record was es-f tablished b ythe Ford Motor Company during the month just passed‘ when approximately 6,000 more Ford ‘cars and trucks were delivered to retail customers in the United Stateg than during the same month a year 4go, which held the previous high mark for June. : ~ Reports indicate a continued large volume of business through the sum‘mer months with a higher buying, ilevel than is usual during this season loff the year. The outlook is for another record breaking month for July. Urgent requests for additional shipments have made necessary increasing the coplpany's July production schedule, which now calls for several thousand more cars and trucks than were produced in June. Saleg figures just given out by the company show that the total sales for June were 195300 Ford cars and trucks. - Of this number 176,256 . represent domestic sales as compared with 170,547 cars and trucks sold in June a year ago. b Buying conditions also continue good ‘in the high priced car market. RKvidence of this appears in the sales of Lincoln cars during June with deliveries to domestic customers totaling 892 an increase of 95 over June a year ago.

Dr. Jekyel and Mr., Hyde.

A physician who maintainéd two offices under different names ministering to the poor under one identity and to the leite under the second was under arrest at Minneapolis on g charge of manslaughter in connection with the death of Mrs. Lucille Barry following an alleged iliegal operation. : ¢ Dr. R. J. Phelan maintained a suite of offices downtown for the wealthy. Dr. W. T. Stevens maintained & suite on Nicollette avenue and aided the unfortunate. - When arrested as the latter they found that they had also arrested the former. Chief of Detectives Andrew Crummy said Dr. Phelan-Stevens confessed and made the statement that he would plead guilty to manslaughter charges. = : The doctor said family troubles induced him to assume dual roles in order to increase his income. _ Dr. Phelan .is his right name and Dr. Stevens was the assumed role. Car Thief Suspect Held. E. L. Crawford who gave various cities as his residence is being held in jail at Goshen while police authorities are investigating the ownship of a Chevrolet coupe which he was drivs ing. Crawford and two companions were taken into custody by Chief of Police Ott Grisamer when they parked. their car on Main street. The chief’s suspicion were aroused when he saw them inspecting the contents of the car. ‘Crawford said he had bought the car in Detroit from a stranger for $65 and that he was to receive his title to the car in Chicago next week. Inquiry at/.the secretary of state at Columbus ‘brought the information that the ~;‘l-i‘l:_ense_to the car had bheen issued to'«a man named Morgan at Cleveland and the authorities are now endeavoring to find out if the car was stolen from him.,

Big Liquor Raid.

Two 75 gallon stills 48 gallons of moonshine and 60 barrels of masl} were taken from a farm which is operated by Oscar Van Pommell and Cyril Stephens near Bremen Tuesday afternoon., .- The farm is owned &by August Stephens 44 Mishawaka and was rented out to his son Cyril and Oscar Van Pommell. ' : . William Stattler of Mishawaka g member of the Horsethief detectives branch was in charge of the raiding squad. Flying Metal Kills Worker A small piece of the die that he was forging flew off and fatally injured Edmond Pascai 23 employed at the Studebaker plant Wednesday afternoon just before quitting time. Pascal was operating a two-ton hammer in the .forge shop and a blow broke off a small piece of the die which pierced the man’s stomach. Education "Week. ~ “American Education Week” will be observed again this year. The week of November 16 to 22 has been chosen for it, and once more the American Legion the National Education Association and the Bureau of Education of the Interior Department® are cooperating to promote it, ( Low Infant Death Rate., Fort Wayne death rate for infants under one year of age is sixth lowest in cities of its class in the United States,‘ according to a report by the American Child Health association, 25656 Miles in 1926 Approximately 200 miles of concrete road and 55 miles of tar surface road will be constructed by the state highway commission during 1926. Charles Ziégler chairman announced. : & WANTED To buy corn, C. L. Chamberlain. “hone 61, ~ 16btt

DEATH TAXES AS BUSINESS KILLERS

Assistant Treasury Secretary Tells Fable of Fate of Tw‘i - Successful Men. , 1

~ Men cannot be expected to continue to work, day after day, increasing the productiveness of this country and benefiting others, if they know that on death the major portion of their earnings will be dissipated in Federal estate and state inheritance taxes, declares Charles 8. Dewey, Assistant Secretary of the Treasury, in the American Bankers Association Jour-w nal. He says: e “lI am going to relate a fable in | terms of modern business conditions. John Henry and Walter Brown were aggressive, hard-working men, ana each had started business for himself. “At the time this history opens, John Henry had just died, leaving his entire estate to his son, John: Henry, Jr., and had appointed his old friend, Walter Brown, as executor. Prior to his death John Henry had moved to California, leaving his business in the hands of his son under whom it had continued to make excellent headway.The father had been doing a little speculating in oil. This venture had not proved successful and he was indebted in the sum of $500,000. “Ixecutor Walbter Brown, on examination of the estate, found the following situation: Capital stock of Henry & Co,, Inc.; a Michigan C0rpn........55,000,000 Personal debts due banks ..... 500,000 “Walter Brown soon made the unpleasant discovery that in addition to the personal indebtedness of $500,000, and administration expenses of $250,000, the following death duties must be paid: : Federal estate taX .....ccceees. $497,500 California inheritance tax....... 585,700 Michigan inheritance tax ....... 122,000 Potal iy i andiiag 31206 200 “Added to the personal debt and administration expenses, this made a grand total liability of $1,955,200. The year was 1920. Money was tight. Other manufacturing companies in the same line which might have been interested in a purchase had no money for extensions nor were the banks in a position to handle a loan of this type. Here was a most successfal business, built up from small beginnings by one man and carried on to further successes by his son, about to be placed under the hammer. i “Is there any justice in taxation that may force a man and his family to lose the fruits of his entire life’s labor, and permit others to benefit? As a last resort, Henry, Jr., was forced into a bond issue. A loan, to settle the debts, administration expenses and death duties, of $2,250,000 was nego-tiated,-upon the following basis: : “The capital stock of the company was left at $5,000,000- represented by 50,000 shares. First mortgage 8 per cent bonds were offered the public, with a bonus of two shares of stock with each $l,OOO bond. The banker, to protect his bond customers, kept 30,000 shares to assure control of: management, and John Henry, Jr., re-, ceived the balance of 15,500 shares. John now has a good job as general manager of his father’s old company, but they do not pay him very much. “Now we must return to Walter Brown, executor of John Henry, Sr. Walter had always kept close to his own manufacturing business. The more ke considered his own situation, the more closely it seemed to him te resemble that of his old friend. | “He therefore called a lawyer and made a complete schedule of his assets, requesting that an estimate of administration expenses and death duties be made. The schedule of assets was as follows: ; Capital stock, Walter Brown Co., Mich., COrD. .qisvseicsnirscsas+.34,oooooo California real estate ........... 1,000,000 Tax-exempt bonds, Minn,, Mont. and Colo¢iccaceccsnvancsnancesrss: bBO,OOO Lotal' [ i.ciliiacsesidachesis 30,600,000 “Within a few days Mr. Brown’s lawyer made the following report: Debts and admin. expenses...... $500,000 Fed. estate tax........ $710,625 Cal. inheritance tax ... 443,194 Mich. inheritance tax.. 260,409 Minn. inheritance tax.. 4,289 Mont. inheritance tax,. 4,486 Colo. inheritance tax... 2,700 Total death dutie5....cce5ee.0..1,425,703 Total expenses .........%.....31,925,703 “On this basis the estate suffered a reduction from $5500,000 to approximately $3,574,000, thus wiping out all assets except the corporate stock and placing a heavy loan on that. Mr. Brown had one son and, as he thought of John Henry, Jr. toiling away with little hope of opportunity he determined that he would not subject his own son to the same tribulations. “Boom times having come, there was no difficulty obtaining a purchaser for Walter Brown & Co., and the California real estate was sold at a good price. The whole was invested in tax-exempt bonds which yielded a very safe return of about 4% per cent. Walter Brown then moved his legal residence to the more friendly climate of Florida, where state inheritance and income taxes are forbidden. - “The country suffers by the loss of effort which Walter Brown might have continued to expend under a more intellizent system of taxation. We must reform the tax system in such a way that business and in’dustr&shall .not be hampered. We must ‘make sure that American citizens shall not be deprived of the incentive to work and accumulate and that this country shall not cease to he a land of opportunity ‘A tax system which discourages ini tiative cannot be the right system. America." Lk ' Christian Seience Society. Services are held as follows: Sunday school at 9:45 a. m. Every Sunday morning.at 11 o’clock Every Wednesday evening at 8:00 o’clock. _ A r e . Meeting place in hall over store of Welr & Cowley, .. = . Everybody welcome. @ i g &

Ford of Canada Units,

Stock in the Ford Motor Company of Canada Ltd., has been selling around $5OO a share on the curb market. Anyone could and can buy it at the market price. This is a good thing to remember. Certain concerns are peddling what they call “units” or “bankers shares’ ’in the Ford of Canada stock. They may offer “units’ ’to you. These “units“or “bankers shares” ‘consist of 100 }}“units” or ‘“shares’ ’to / each share of stock. . That is the buyer of one “‘unit” or one ‘bankers share” owns one one-hundredth part of a share of stock of Ford of Canada. These “units” or “bankers shares’” have been peddled at $7.50 to $lO apiece. At $7.50 a “unit” 100 “units” cost $750. At $lO 'a “unit” 100 “units” cost $l,OOO. As 100 “units” are .equal to to one share of Ford of Canada and as one share can be bought at about $5OO the exorbitant scheme is quite apparent. . . Cholera Losses in Year $1,500,000 Hog cholera robbed Indiana far'mers of 118,17 hogs in the year ending May 1 according to the Blue Valley Creamery Institute. This means that 37.6 out of each thousand hogs on the farms of this state were sacrificed to this disease and, at $11.90 the head, took $1,406,306 out of the pockets of their owners. : Compared to the year before, however, the losses from this dread disease are considerably lower. The number of hogs claimed by this malady for 1923 was 213304, or at the rate of 52 hogs out of each thousand. But with the better showing this year Indiana has to - make progress to catch up with the average for the United States which is 30.8 out of a thousand hogs or a total of 1,674,746 for the country. =

40 Bushels to an Aecre.

- C. E. Kauffman who has a farm a‘ mile east of Foraker is probably the champion wheat grower of Elkhart county this year. He received 40 bushels to the acre off of six acre field - and an average of 31 bushels to the acre off a 19 acre tract,. Typhoid Causes Death, Galen Neher 15 of North Manchester died from typhoid fever which he contracted while attending the ‘Brethren church conference at Winona lake. Living Expenses Easily Earned By: South Bend Business College Students this fall. Write for new 3% page catalog and particulars. 23a5t* Mr. and Mrs. Will Davis came from Nappanee one day last week and vigited Ligonier friesnds. For Sale large cottage at Natticro Beach, Wawasee Inquire of Mrs. J. E. McDonaid. : 22b3t ‘ Sale The stock of the Ligonier -Fibre Furniture Company will be offered for sale at the factory. Stock consists of davenports, rockers, chairs, tables finished and unfinished. Goods may be seen at factory any afternoon during week. F. W. Zimmerman ‘Trustee. . o 21b2w LOST-—Diamond on streets of Ligonier last Saturday afternoon. $25 reward. T. J. Shuman. 22h2t i “ FOR SALE. ~Used Dodge and Fords open or closed. Call Stanley Surfus. Phone 495, 21bt Awnings, Tents, Porch Shades Wagon Covers and Electric Signs. See Otis L. Fuller Goshen Ind. Phone 251. \ - 9atf

‘Bon-de-Shea Removal Sale Sale starts Sat'ufday Aug. Ist and closes August 15tha Felt Hats up to the Minute and Velvets, all at big reduction for this Sale L Includeid in this sale will be the * Madam X Reducing Corsets on which there will be a special reduction ot $l.OO on all ord?rg I have a large line ot Formfit Corselets to close out at . Half-Price - My entire line of Faultless Hose will beclosed out at the fgllowingo prices . s2oo3line . $l5O sL7sline . $1.25. sLooline .89 Also stamped goods and embroidery threads at a price that will clear , the cases = | Bon-de-Shea Store . Nona Stuff=Prop-© o

Get Acquainted f Before the Need Comes A banker is sometimes like a doctor. He will do his best whenever you call on him, . but he will do a great deal better if you g t _acquainted when you are well, instead of waiting until you are sick. - Sometimes you will want to make use of the facilities of the bank. Don’t wait until right up to the time. Come in now. Start an account, if only a ; small one. Establish your credit. 7 ; Then it will be easier to handle something | important when it comes along. | Stop in every week to look over the bul- | letins of the Indiana’s Farmer’s Guide . Crop, Market and Economic Service, which . are posted in our bank, giving you dependable information. : . The Farmers & Merchants Trust Company - «The Bank of Safety and Friendly*Service.”

GUARANTEED 4 o YRR

YOU cannot expect any other used car dealer to have the same interest as the Ford Authorized Dealer in seeing that you get the best used Ford for the money you invest. Shuman-Turrell Co. - Authorized Ford Dealers - ~ Ligonier '

i B $2.00 The -Year;