Millions in Taxes Lost to Federal Treasury via Personal Holding Companies
Treasury officials told a joint tax committee that personal holding companies have let wealthy individuals erase large tax debts. Names include John J Raskob Alfred P Sloan Henry L Doherty A W Mellon and multiple Dupont heirs among others who used farms estates racing stables to claim losses and massive deductions reducing liability.
MENTIONED IN THIS ARTICLE
International News Service
Washington
Treasury
Senate-House Tax Committee
Congress
John J. Raskob
Alfred P. Sloan
General Motors
Henry L. Doherty
A. W. Mellon
the Treasury
Paul Mellon
Ailsa Mellon Bruce
Wilhelmina Dupont Ross
F. W. Dupont
Paulina Dupont Kean
Charles E. Merill
Edmund C. Lynch
New York
Carter Lupton
Cattanooga
Owen B. Winters
Attend Rites Today For Former Resident Ralph Read
New Castle residents attend funeral in Johnstown for Ralph M. Read former drug store and hotel proprietor here who died last Friday. Attendees from New Castle include Max Ludwig Margaret Newman Rubin Elliott Bertha Meehan and Elmer Elliott son in law. Burial set later today at Oscola Mills Pennsylvania.
MENTIONED IN THIS ARTICLE
New Castle
Johnstown
Ralph M. Read
Read
Max Ludwig
Margaret Newman
Rubin Elliott
Bertha, Meehan
Elmer Elliott
Oscola Mills
Bombings force Johnstown plant to halt operation
An explosion shattered a 62 inch line above the plant around 10 30 p m triggering an investigation after gauges dropped to zero A second blast lower on a nearby line followed by a third at about 3 a m halted work Crews faced rough terrain delaying repairs and about 6000 workers who had returned to work were again idled due to the strike conflicts
MENTIONED IN THIS ARTICLE
W. A. Clark
George H. Earle
Johnstown
Clark
C. R. Ellicot
CIO
Quemahoning
Border
James Mark
UMWA
Sidney Evans
Harry Klink
Torture Robber Reaches Beaver Torture Robber Reaches Beaver
Beaver Pa June 29 Philip Poghan of Youngstown sought for four years for torturing Theodore Bardonner a farmer in Economy township was brought from Arizona to face trial. Poghan waived extradition after fleeing and disguising to avoid capture. He and three accomplices allegedly tortured Bardonner to locate a supposed fortune. Bardonner said he had none and the four escaped with under three dollars.
MENTIONED IN THIS ARTICLE
International News Service
Beaver
Philip Poghan
Youngstown
Theodore Bardonner
Arizona
Poghan
Phoenix
Charles J. O’laughlin
William Coghlan
Bardouner
Bardonner
Oven heat levels and 1935 farm census figures
A description defines slow moderate and hot ovens by 250 to 300 300 to 350 and 400 to 450 degrees. It notes American farmers harvested 298 600 000 acres in 1935 versus 362 000 000 in 1934 due to drought and readjustments. It adds advice to inspect furniture casters for damage.
Personal Holding Companies Save Taxes, Lupton Case Cited
Treasury officials told Congress that forming a personal holding company allowed a wealthy taxpayer to save 648,523 in income taxes over three years. They cited Cartier Lupton of Chattanooga and the Central Shares Corporation of Delaware, owned by Lupton, as an illustration of lost government revenue and a call to close loopholes.
MENTIONED IN THIS ARTICLE
International News Service
Washington
Cartier Lupton
Chattanooga
Congressional Tax Committee
Treasury
Congress
Abe Fortas
Central Shares Corporation of Delaware
Lupton
The Road To Industrial Peace and British Law
The piece argues for adopting fair collective bargaining inspired by Britain's Trade Disputes and Trade Union Act of 1927. It notes legal strikes and peaceful picketing, court-based strike legality, and absence of compulsory arbitration. It warns against armed methods and urges a reasoned, American law to secure enduring industrial peace.
MENTIONED IN THIS ARTICLE
Roosevelt
Great Britain
Nationalized armaments boost morale and foreign demand
The article notes that foreign governments preferred direct deals with the state over private manufacturers, improving worker morale at nationalized plants. It asserts no strikes occurred, claims propaganda control reduced war scare coverage, and suggests German threats diminished after four years of Hitler rule.
MENTIONED IN THIS ARTICLE
Germany
First Massachusetts Board of Education Established
A study notes Horace Mann led the first board of education in Massachusetts with a superintendent salary of $1,000 a year in 1869. The article also marks 100 years ago events and a 1896 national banking act Davenport bank, and the first paid admission moving picture show in Union Square, New York City.
MENTIONED IN THIS ARTICLE
First Board of Education
Massachusetts
Horace Mann
First Bank
Davenport
U.S
Union Square
New York City
Notable aviators cross Atlantic after Lindbergh feat
Day Bernt Balchen Bert Acosta George Neville and R E Byrd completed an Atlantic flight in the wake of Lindbergh and Chamberlain, marking a bold extension of early transatlantic aviation efforts.
MENTIONED IN THIS ARTICLE
Day
Bernt Balchen
Bert Acosta
George Neville
R. E. Byrd
Atlantic
Lindtorgh
Chamberlain
Beaver woman acquitted in manslaughter case
Mrs. Anna Sankofski, 55, was acquitted of manslaughter for allegedly causing an infant death by cutting off gas and electric service over $11 back rent. Judge Frank E. Reader found the Commonwealth failed to prove beyond a reasonable doubt that the power shutdown caused pneumonia linked death of Constance Zancevich at Beaver, Pennsylvania.
MENTIONED IN THIS ARTICLE
International News Service
Beaver
Anna Sankofski
Frank E. Reader
Commonwealth
Constance Caro —Ter
Henry Zancevich
Ai U
Also Mentioned on This Page
Federal Treasury
Julius Fisher
Highland Ave
Arbuckle
Bailey Cash Marke Deh Ed Tior Ee Amammteed
Hogard
Coolerator
DULUX
Haney
Ali aGvVa
Fice
New Wilmington
Lyman Gerould
Hodge
Cramer
Colnet
B. F. Johnson
Harrisburg
Cambria
Bethlehem Steel Corporation
Lynn G. Adams
England
Faney’s
Chester
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