08 Oct 1925
Page 1
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Newspaper
Renwick Times
Location
Renwick, Iowa, United States of America
Date
Oct 08, 1925
Page
1
A critical survey argues that tax exempt securities held by the rich reduce income tax yields and curb investment in industry. It notes tens of billions of exempt securities, mainly owned by wealthy individuals, drain revenue and prevent broad-based development. The piece also claims high surtaxes fail to reach idle wealth while harming business capital.
Bankers of Iowa join farmers to form Agricultural Credit organization in Humboldt county supporting warehousing law. Fifty-seven counties have local warehousing boards and a statewide drive seeks banker support for financing corn marketing reforms.
The Town council met on October 2 1925 with most members present except Black. Bills from Frank Ward to Westinghouse were reviewed and approved by the finance committee. Fire Chief to attend the Firemen's Short Course at Ames with expenses paid. Water sample deemed satisfactory and patrons to supply their own meters and maintain them. Meeting adjourned.
Frost resistant corn now safe well above 30 percent of the crop with a ten year average of 76 percent. Drought and heat reduced yield but nearly eliminated soft corn issues. Surplus corn cut for fodder filled silos in northwest counties to offset hay shortage amid the driest spring in 37 years. Java corn near ten year average or slightly above. A historical note recalls old town speed limits and a 1877 Kansas grasshopper law. Per capita wealth cited as $4,000. anthracite miners lose large salaries while owners prosper. legislators pass numerous laws. the League of Nations approaches new leadership.
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