Treasury Officials Explain
Provisions New Tax Bill
The New Plan Provides a Scheme That Will Not Make a
Hole in the Treasury at the Present Time?Le
gal Contest on Bill Is Predicted.
Bjr DAVID I/.\WRK.NCK
(Copyright. 1924. By Tti? Ainiwtl
Washington. May 31.?Treasury
officials today explained the method
by which taxpayers would calculate!
their next payments on June 15 ifH
| the conference report adopted by!
Congress in approved by President!
Cooltdge. .-which now is certain.
Instead of permitting the taxpayer!
to take a 25 per cent reduction on
his 1923 taxes In a lump by omitting!
the June installment, the new plan
provides for a scheme which will notl
make a hole in Treasury receipts at I
this time.
The method Is as follows:
The taxpayer has the option ofl
paying his taxes In full and If he did I
so on March 15 he will receive a I
credit of one-fourth. If he pays hisl
taxes In quarterly Installments, he
will be allowed on Ills June 15 pay-fl
ment a credit of one-fourth for that I
payment and one-fourth for the pay-l
ment which he has made In March. I
In other words, the one-rourth re-B
duction of 1923 taxes will be allocat- I
ed in four equal parts but In view
of the fact that the March payment i I
has been passed, the taxpayer will I
get a credit of two-fourths of his in-1
stallment in June. Thus a taxpayer |
who had a tax bill of $1,200 to pay
and who paid $300 on March 15 last;
would ordinarily have had to pay an-! I
other $300 on June 15. hut instead
ho will be permitted to deduct $75
for the payment he made in March
and $75 for the credit which he Is
allowed in June or a total deduction
of $150 so that he actually will pay
only $150 in June. Wheu the Sep
tember 15 payment comes, he will
deduct ony $75 from his $300 bill
bo that the net payment will be $225.1
On December 15 he will deduct the,1
remaining $75 so that his bill then j
would also be $225. In this way,!
the Government permits the taxpay
er to take the full one-fourth reduc
tion In four equal parts and the rev-l
enues coming into the Treasury are
not seriously disturbed. The whole'
thing may be reduced to a formula j
by taking one-half of what was paid
in March and subtracting it from
what would ordinarily bo paid in J
June. In December and September
each only one-rourth of th* March
installment would be deducted. ?
? The Treasury Department depends'
upon an even flow of money into the j
Treasury from Income taxes and j
when they fall short, the Govern- j
ment has to borrow and pay Interest
which increases the expense. In or-1
der to reduco borrowings to the mln-l
lmura it was thought best not to per
mit the taxpayer to omit his June!
Installment altogether but to let Mm!
pay a half of it then and take two
other credits In September and De-I
cember. ?
All the features of the new law1
will be retroactive to January 1 of
this year. There Is some doubt of!
the power of the Government to levy'
an excise tax on gifts which were'
made prior to the signing of the new1
law. There have been some test
cases in which individuals contend
ed they had a right to make a cer
tain transfer of property because no
law was on the statute books and |
that they might not have done so|
had they had knowledge of the tax|I
that would be later levied. The Gov-j
ernment in the past has won theso
test cases on the ground that an ex-!,
else tax may be levied on any trans-!
action which has occurred. There is ;
room for difference of opinion on!I
this feature of the law, however, and.1
it is not unlikely that varying cir- 1
cumstances will lead to litigation1
and further testing of the conBtltu-'
tionality of this provision.
As for the retroactive effect on the
transactions of the taxpayer general
ly, the Government has no doubt of
the constitutionality of the new pro
visions for the individual's income is
supposed to be calculated on a year
ly basis and the revenue act of 19181
which was not signed until February,
1919, was retroactive to January 1,
1918. without being upset In thej
courts. There are other phases ofl
the new bill which an usual will be
open to attack in the courts, but
they cannot bo conjectured in ad-'
vance for nearly every revenue act j
has something in it which produces
a law suit. |
The gift tax provision is probably
the principal one on which legal con
test will be made. The Treasury it
self did not Insert these ambiguous
provisions in the bill but will be com
pelled to defend them when once the
measures become law.
EAT
PURE LOLLYPOPS
FRESH VEGETABI.ES
Mmjr Pm., Hprlng Turnip,,
aprln* lleeto. Hprln* Onion., I*iu,rr,
Celerj, Tnnuthm
R. L. GARRETT
FHOMC HON
LET FRICK BE
YOUR TAILOR
?1? Kramer RalMIng
icer-Walker Co.
What]
'Rum King" Talks
Georgo Remus, who has the
reputation of being the wealthiest
American bootlegger and who
hailed from Cincinnati. O., Is
shown telling his sensational story
before the Senate Investigating
committee. He declared he had
paid at least S250.000 In protection
money to Jesse Smith, close friend
of the late Atty. Gen. Daughertyi
and largo sums to "go-betweens."!
Remus is now serving a term at
tho Atlanta federal prison.
PATARRH
of head or throat is usually
benefited by the vapors of?
VICKS
VAPQ Rub
r Mi'li?^ jTri
Ovmr IT Mllfior* Jmrm l/mmJ Ymarly
Special
Pancake and
Buckwheat Flour
6c per Pkg.
5 Pkgs. for 25c
M. P. GALLOP CO.
Phones 3 and 57
FLOWERS
for gifts convey yonr message
better than words.
Ryan Floral Shop
I'HONE 84S
TEXAS COTTON IMPROVING I
Houston. June 2?(Special)?The
cotton crop In central and southern
Texas, while two or three weeks late.,
1h making good progress since hot*
weather has started. Conditions are
only fair In the north section of the
state. The Texas acreage increase
is estimated as high as eight percent
over last year.
Mrs. C. B. White 112 Broad street
has returned from a visit to her
daughter, Mrs. C. L. Rhodes at Col
umbia.
MEET YOUR FRIENDS
AT OUR
Clean Soda Fountain
at
THE APOTHKCAKY SHOP
It's Time to Think of a
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We have one that will
suit you.
D. Walter Harris
The City Tailor and
Clothier
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PRICES
oil Ford size tires and
tubes are what you want.
Due to exchanging tires
from new Ford cars to
equip them witli Balloon
tires, we can save you mon
ey on your tires.
CALL AND SEE
Auto & Gas Engine
Works Inc.
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I
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Tire or Tube
COME TO SEE US.
Flak Red Top nn<l other Fabrics
CasingM. Fink and Columbia
Cord Casings?Frets Air.
Tide - water
Buick Co.
NORFOLK SOUTHERN
R. R.
Invite* attention of delegates
to tl?e Surfmen'tt Convention at
Yiruinia Item-It June 5th and
7th, to Summer Kxcurelon
fare* applicable to that point.
Tleketa on *ale dally bearing
final limit of October 81, 1924,
such tleketa |M?rnilttIng *top-ov
er at Norfolk, going or return
ing, if desired.
J. F. Dalton
(General Passenger Agent
ju2,3.4
NORFOLK SOUTHERN R.R.
Announces
Third Educational All
Expense Tour
To
Washington, D. C.
June 9th-13th. 1924, Special sleep
er will be operated to Norfolk where
night ride requires same and all ex
penses of the tour will be Included
in tin* fart which will cover trans
portation, hotel accommodations,
berths, meals, automobile tours,
guide fees, etc. For full information
apply to any Norfolk South"rn ticket
agent, or communicate with the un
dersigned.
J. F. DALTON
General Passenger Agent
Norfolk, Va.
NORFOLK SOUTHERN R.R.
announces
Popular Excursion
I to Jacksonville, Fin., Tampa, St. Pe
tersburg, Hradentown, Fort Myers,
Moore Haven, Fla. Hound trip fares
to Jacksonville from the following
, Itolnts are as indicated:
I Edenton, $14.50; Elizabeth City,
; $15.00; Greenville, $13.00; Klnston,
$12.50; New IJern, $12.50; Ply
mouth, $14.00; Washington, $13.50;
Wilson, $13.00.
To points south of Jacksonville,
j $7.00 higher. Tickets on sale May
2f?. 1924; tickets to Jacksonville
i limited four days .n addition to date
of sale, and to points south of Jack
sonville limited to 8 days in addition
to date of sale.
For further information apply to
Norfolk Southern ticket agents or
write to
J. F. DALTON,
General Passenger Agent,
Norfolk, Va.
; ?
[OPTICAL SERVICE?
DR. J. W. SELIG ]
0PT0METRI8T i
t521 Main St. ? Ellnbeth Cltyj
Mwty bjrt without question
If HUHrt GUARANTEED
?KIN DISBASI RBMBDIBS
(Hunt ? Salve and Soap), fall In
the treatment of Itch. Bciima,
Ringworm, Tetter or othar Itch
in* akin diacaaae. Try thia
treatment at our rltt,
THE APOTHECARY SHOP
Elizabeth City, N. C.
WELL MOM -rvtfs MAO,
BEEN a 6"Cat daw . thin6S
HA\JE GONE ALONf- PINE ANP
1 HAVEN'T HAD TO DODGE
THOSE OUQ~ AUTO SALESMEN |
Guts? I'LL ruSN IM II _
J WIlt.lT'S PAST BED-1
VECV,
3
mumm CUP Pop Tried, Anyhow BY TAYLOK
M6S ]
AND |
The PHONE'S L 1'U 66T TH?W'PE
rin&im& pop - r Calling the
Get UP AND M, VUGONfl MUMRT-P I
ANSWEO IT"
-v-*pi
^;3I|
PEB
HULLO
HULLO- WES
I SAW HAVE MOU L POP I'M SURPRISED AT
DECIDED TO BOW r uou oSlN(> SoC-M AWfUL
THAT Twin j LAN&UA6E OVER THE
IS HIM talwin J] Ej^mt wgT ? h I p"ONe * ??
WHAT- ? -5. LtojNSULT PtOPLE <
VE^ 8UT
I CanT
?. f
\
Alkrama Theater
Tuesday and Wednesday
June 3 and 4
"Written and Directed by
CHARLES CHAPLIN
"You Wouldn't Understand"
said the erstwhile"- village girl whom Fate has
turned into a woman of Paris when the richest
bachelor in the world's gayest city pointed to her
glittering gems, asking. "What more do you
want? You have everything."
She Had Butterfly Luxury
but all the while her woman's heart craved real
love with the man of whom Fate had robbed her,
a real home, her man's children. For these she
was willing to give all?her gorgeous gowns and
gleaming jewels.
An Intense Human Drama
ADMISSION: 10c and 30c
MATINEE and NIGHT
Also "THE VAGRANT" a
Mermaid Comedy
LEGAL NOTICES
NOTICE OF ADMINISTRATION
Having qualified ai Administrator of the late Mi
tints A. Wllltauii 1 h<trhr (lie notlcm to all per
iod* Indebted to hi* estate to mm* forward and
mak? Immediate settlement. and tho?c hnldini claim*
against tha aamr to present tham for payment with
in twelra month* from Ihf dit? of hla notice. or It
will ba plrtdMl In bar of their Treat try.
May S. 1924.
J. D. WILLI A MB.
marl7.ltMJul9.lt Admlnirtrator.
NOTICE
Halo of Valuable Property
nr virtue of ft Deed of Tni?t niruttd to tha
undrrtlniMl Trustee on tha 12th day of loaf. IMS.
hv Ada William* and httihand. C. K. William*,
which I* duly recorded In tha office of tha Reilitrr
of I>eed* nf I'aaquotank County. N. C. In Book 53
at ink 114. default having h?fn mad* In tha pay
ment of tbe liMWbtnlflnt ?nnrwl thereby. 1 will on
Wedneaday. June H. 1924. offer for aala tWore tha
Court lfmiaa door In Kllraheth City. N C.. at U
o'clock Noon, to tha highest bidder for ca*4? tha
following described properly:
That certain tract or lot of land In Paaqtio*
tank Countr. North Carolina, bounded on tha
North by Wr?t Main Street; on tha Kart by
Charlea Avenue or West Main Rtrert ratended;
on tha South by tha hair* of J<.hn Hughes; on
tha West by the land of Norfolk-Kouthern Itftil
road Company; bring lot n on tha plat (4 C.
W. Stevens. recorded In Hook SI. pat* Ml. of
flcs of tha ItagWtrr of Deed* of I'aaquotank
County; same l?lni tha property fonterM to
Ada William* by John I. Walla and wife, by
dfd dated November 10, 1917. recorded In aald
office in Book 44 at paga 5UJ. .
Thlg Mnd day of May. 1994. I
1. CARTKR l'KRRT, Trustee. !
By McML'I.LAN A I,eROT. I
may 10.Jut.9.19 Attorney! I
NOTICE OF ADMINISTRATION
Having Qualified a* Admlnlstrfttor of tba lata Cya- |
thl* Whltdpd I hereby glva not Ira to all person*
Indebted m her estate to com# forward and maks
Immediate a*4 tie meet, and thoaa holding (U>ni
against tba same to present then for payment with
in twelve month* from iha date of thla notice, or ;t
will ba pleaded la bar of their recovery.
May 17. 1M4. DAVID MORGAN.
mayl9.M.J?aS.9.14.M Admlniairsior.
NORTH CAItOI ISA.
PASQUOTANK COUNTY
IN Tlir. StTKRIOR COURT.
fn Re MARY LKNA NIXON. e? ftla.
KX PARTS to tba Court
By virtue i4 an order nf Re Sale mad* la the
abova entitled cau*? by tha Clerk of the Superior
Court. I ahall sell to the hlgheat bidder for cadi at
tha Conrt House door of r**iu??aaft CwSTi N. C..
on Saturday, Juoe U.k. lltU. ml IS o'rfca* M . Uia
fbl lowing dearrttud bouse and lot. le.
Being one llouae and Lo? altuated en tba Wat
alda of Cypress Street. In Kllgabeth CHjr. H. C.. ami
known and dcel?aat<d a* Lot No. 70 la tha plat
of M. N. Sawyer, which aald plat la recorded la
Hook page 497. Register of Deed'* office of Pfta
quotank County. N C.. aatd lot fronting SO faat on
cmreaa Street and axtvwding back between parallel1
lines 14* faat. *
?*? Hona# INatail Ml W. Cjina Ml known
M lh? Niwf Broflki houie.
ThU May 27. 1934.
OfTO. 1. HPT.XCE.
m*> 2 O.June 2.9 CommUfionrr of ttic Court.
NOTICE
Sal? of Valuable Property
Br virtue of a Dwd of Trnat nwutfd to im by
Mn Wlnilm and wife. Paulino Wln?low, for cer
tain pun>n?ea Ihwln mentioned. whlrh *ald Dw<l
of Tnut bran date Qrtober !. 1919. and la M
l?imd In the off Ire of (be of Deed* ct
Paaquotank Count r In Book ill. i??e MV I aball
proceed on flaturdar. June 29th. 1924. at 12 o'clock
M . at the Court llouae 4*>r In Pasquotank Coun
tr. to offer for m)o at public auction for cad?
Uia property a* conveyed to ma a* tru?tee:
Being one Town lot altuatcd on Htarke Street
and luiuwn aa Lot No. >4 In Mat of M. N.
Sawyer. rerorded In Ileal Her'? office of aald
County la llook No. 16. pa?? 4S7, adjoining lott
Noa. 23 and 23 aa by reference to deed from
M. N. Saw)er to John Window will more fullr
Dated and poatcd tbla tba 29th dar of Mar. 1924.
P. 0. SAWYF.R.
raaylO.June2.9.19 Tnutea.
NOTICK OF ADMINISTRATION
I taring qualified aa Administrator of the late Kec
ne<i 1.. Kt.v.n* 1 hereby glee notice to all perrnaa
Indebted to hi* eatate to come forward and mt re
Immediate aHtlement. and thoae holding clalr.it
agaln*t the aame to preaent them for payment with
in twehe month* from tba date of thla notice, or
It will be Headed In bar of their recor-ry.
Mar 19. 1924. II. L. STKVKNS,
mar21.27.iu3.IO. 17.24
NOTICK OF 8ALK
OF HKAL K8TATK
Br tlrtue of an order to the iindimljiml Com*
mlMtonrr. made br Krweat f? Biwtt, Met* Suite*
Hot Court. Paaiiuotank Countr. North Carolina, lift
that certain rperlal proceeding entitled Walter L
v*. Kdna lllnton Jeffer?nn I will on Bat -
urdar. the 29th dar of June. 1924. at If o'clork
Noon, before the Court Hou?e lihr.r of Paeouotank
Cmti.tr offer for aale at pOillr audita to th? high
est bidder fur caah. the foll<w.ng d *rr.bd real
eatate. to-wH:
PI RUT TIUCY: Situated on toe Weat aid* of
the "Corduroy" Road and bounded on the .North
br the land* of Martha Valine*; on the Karl I
raid "Corduroy" road: on tba South br
land* of the helra of Ada OrlfTtn; and ??
WnI br the land* of A. 9. frtafford. and <
Uinmg Afi> -aii <M) aeraa. and being the T
aligned lo Callla lllnton. Koea llint<?.
Kdna lllnton. in the dlrlrton of the e.tal?
Nathan White, dereaeed. and deelgnated aa
N*k 2 on the dlflatnn plat.
HKCONIi TUACT Situated oa tba I
of the State Highway and
Of the Irtrl of Cortra Temple; and
the Katf br the "Cordum" Road: og
br the land* of the helm at Ada Grtff
ing the woodland aa.ian-?l
d'tigaated ai Lot No. 1 and ?
eight and elgfctr - three one
(29.93.1
Dated and poated Ihl* the 27th dar of
THO* J. ?
?g?31.juMt.9.1<
Try Tbe Advanci Sbon Far Jah Pi