Word: laws
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Dates: during 1930-1939
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Quick to deny that report, for the present at least, were La Follette advisers and big, bluff Mr. Ward himself. Mr. Ward got his business start in Leavenworth where, serving a term for narcotic law violations, he fell in with President Herbert Huse Bigelow of Minneapolis' rich Brown & Bigelow (advertising specialties), who was serving a term for income tax evasion. When Mr. Ward was released, Mr. Bigelow, who thought him "good clay worthy of molding," gave him a letter to Brown & Bigelow that got him a job shoveling manure on one of the company farms. By the time...
Disney,*Okla., a string of shacks and saloons thrown up on the site of PWA's $20,000,000 Grand River Dam, last week held its first mayoralty election. Candidates were a sad-eyed grocer named Mrs. Vera Silar, who stood for law & order, and a buxom ex-cowgirl named Billy Baker, who stood for fun & frolic. Idea was to give each boss woman 30 days to try out her ideas, then incorporate under whichever regime Disney liked best. When Disney's Commercial Club tried to limit the ballot to property owners, dam hands rebelled, gave Cowgirl Baker...
Corporation A reports a net income of $25,000, of which $20,000 was distributed in dividends. Under the 1936 law it would have been liable, besides a normal tax ranging from 8% on its first $2,000 up to 15% on all over $40,000, to a special tax ranging from 7% on any undistributed profits constituting 10% or less of its net income, to 27% on all over 60%. Corporation A's normal tax would have been $2,890, the tax on its 10% undistributed profits $147.70. Total: $3,037.70. Under the 1938 bill Corporation A will...
Corporation B reports a net income of $1,000,000, of which $200,000 was distributed in dividends. Under the 1936 law Corporation B would have paid a normal tax of $148,840. Because it retained more than 60% of its earnings, it would also have paid up to the maximum rate of 27% on its undistributed profits, another $120,487.80. Total: $269,327.80. Under the 1938 bill, corporations earning more than $25,000 will pay a flat tax of 19% minus 2½% of the amount it distributed in dividends. If Corporation B retains the same share...
Last week, while a U. S. Circuit court was giving NLRB another one in the bread basket (see above), the Second Appellate Court of Illinois upheld the convictions for contempt, clearly informed Illinois employers that State and local law still protected them from illegally conducted sit-downs. Said the Court: "There is nothing in the Wagner Act which deals with the subject of violence or any illegal acts committed by employes in the course of an industrial dispute, and in our opinion Congress did not by this enactment deprive or attempt to deprive the States of their police power...