1935-11-13 — Page 14

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lip

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THE HONGKONG TELEGRAPH. WEDNESDAY, NOVEMBER 13, 1935.

MILLIONAIRES DEFEAT U.S. TAX THE WEALTHY SCHEME

BY GIVING

THEIR

MONEY AWAY

FORTUNES CHANGE

HANDS AS TIME FOR TAX NEARS

Washington, Nov. 5.

A handful of wealthy Americans disposed of near- |ly .U.S.$15,000,000 of their fortunes by gifts last month as the time drew nearer for the imposition of drastic new. Federal gift and estate taxes, the Securities and Ex- change Commission report- ed.

Following the lead previously set by John D. Rockefeller, Jr.. U.S.$77,000,000, in disposing of

or ZL quarter of his known Standard Oil Co.. fortune, other capitalists like George F. Baker, Samuel Zemurray, Ogden L. Mills and M. Fleishhacker were shown to be busy In roducing their estates by gifts or other means.

These operations were belleved to be only a small part of the transfer of wealth proceeding throughout the country in pussthie anticipation of the new tax bill whleh goes into effect January 1. 1936. The bill itself was part of an administration. programme to pare dawn big, fortunes through laxation. Treasury officials said in- they had received numerous

of to avoidance quiries relative new tax levies.

Under the new gift taxes to go into effect January 1, gifts up to be taxed 1 per $10,000, will cent instead of 4 per cent. Rates above increase over the old rates in a graduated senle until they reach $50,000,000, when the rate is 52 per cent. The old bill provided for a rate of 45 per cent on this size gift.

A breakup of the vast George F. Baker fortune was shown in the S.H.C. report to-day, Baker, who recently inherited multi- his million dollar fortune from father, was shown to have given away securities worth $5,132,000

in August. Several million dol lars' worth of his securities were

sold in the open market.

Another huge transaction

Was

that of Eugene Du Pont, who re- he "Lransferred" Jast

ported

.THE WOMAN PAYS

Reversing the American game of alimony, Mrs. Katharya S Druhojowski, heiress, is defendant in a suit in which her husband, Jan Drehojowski, former Polish count, sveks U.S. 7260 a month, U.S. $10,000 counsel fees and euert costs. Suit was filed in Las Angeles.

Gland Discovery May

Make Magnates Of Maniacs

RESEARCH BY LONDON SPECIALIST RE

ECENT investigation concerning a certain little gland in the neck of a human being has raised a hope that soon the "village idiot” may be a person of the past. For this gland, apparently, determines whether a person shall be a lunatic or a genius; a normal citizen or an enemy of society.

This is the thyroid gland, and last week a London specialist explained some of the wonderful things that it month 15,000 shares of E. 1. Du can do-and some of the things that can be done with it. Pont De Numours and Co., com-

He said that study, in this mon-stock worth $1,865,000.

of branch of medical science has re- Samuel Zemurray, president the United Fruit Co., gave away sulted in the production of a 20,000 shares of the company's specifle which, if administered to Former sub-normal children, will make stock worth $1,360,000. Secretary of the Treasury Ogden them decent, useful citizens. I Mis gave away 1,000 shares of Cerro de Pasco common stock worth $58,000.

The patients can be brought up to normal again by means of small

According doses of thyroid extract.

to Dr. Charles 11. Mayo, a president of the Ameri- can College of Surgeons, who has studied the subject extensively, there is no non-fatal condition in which the patient receives much benefit as from thyroxin administration discoveries in re-

in thyroid de- avoided by some these Indus-gard to the thyroid, this specialiat | ficiency.

No estimate was available

to the possible amount of taxes

Science has found a preven tive for idiocy-a brain stimu- lator and a physical regenera- tor!

Discussing

HO

As regards the too efficient

SWAN, CULBERTSON & FRITZ trialists by their gifts but the said that an inefficient gland in in-

of fancy and childhood enuses Idiocygland, science, so far, has found

Investment bunkers and brokers in securitics and commodities Daily New York and London Stock Exchange Service. Commodity Futures on the principal American marketx

Members of:

New York Cotton Exchange. Chicago Board of Trade. Commodity Exchange, Inc.

(Silver, Rubber, Silk, Copper, Hides and Tin). New York Coffee and Sugar Exchange. Canadian Commodity Exchange Inc. Winnipeg Grain Exchange.

Manila Stock Exchange.

Correspondents for Hayden, Stone & Co. Telephone: 80244, 80245, 30246. Cable Address: Swanateck Hong Kong & Shanghai Bank Buildings, Suite 119/122.

figure may run into millions

dollars. In addition to receiving arrested growth, physically and no cure but the knife. the benefit of lower figt taxes nt mentally. the present time, these estates will be less hard hit through estate toxes which also are Increased

next year.

Because of the heavy gifts in the of new rates, anticipation

its budget bureau to-day ralaed estimate of figt tax collections for the current fiscal year to $60,000 - 000 from $25,000,000.

A normal working thyroid pro- duces a normal person.

But a tou active gland may pro duce, first, genius, then madness, then death.

"Nowadays," he added, "we are able to help the gland by means of the thyroxin seero- tions from the blood stream. "Idlocy shows that the thyrold hasn't been working up to stand- ard.

comes

When this little gland doos its | job too well, it produces people with racing hearts, bulging eyes and tireless energy-then, if the condition isn't checked, hysteria, madness and death.

At present, the specialist de- clared, the only treatment is to cut away most of the gland, leny- ing the remainder to overwork as it wills.

The overworking part of the thyroid may approximate to the normal gland, but-and here's the critical part of the matter as it affects ordinary human beings- it always rests with the surgeon to decide how much or How littlo of the gland should be left.

No information was available as to the recipients of these huge gifis as this is not required by "Thyroxin treatment puts mat- the Securities and Exchange Com- ters right, and the idiot becomes mission. Presumably, however, a normal only, he has to keep on large part of it undoubtedly went having treatment." to families of the givers,

Lately, this specialist declared, Rockefeller in his report on it has been found that some gas- Ogts of hundreds of thousands of tric troubles and much "run- In other words, the knife may Standard Oil Co. shares reported downness" has been caused not change a potential maniac into a that they had gone to educational. through bad dieting or, careless- sound business man, or turn a scientific and charitable organiza- ness, but through the thyroid would-be murderer from his pur- tions.

gland not doing its job properly. Į pose.

- SALESMAN SAM

NOW HERE'S YER LAST TEST, THEN YER A LIFE GUARD!" YA GOTTA SWIM OUT TA THAT FLOAT AND BACK!-

GEE, IT'S A MILE OUT, Boss, AU' I FEEL VERY TIRDZ;;

WHY NOT EXCHANGE YOUR OLD PIANO FOR A NEW ONE ?

IF YOU ARE TIRED OF YOUR PRESENT PIANO, OR IT DOES NOT GIVE GOOD, SERVICE, WE WILL ACCEPT IT IN PART PAYMENT FOR A., NEW INSTRUMENT.

IF DESIRED, THE DIFFERENCE IN VALUE CAN. BE SPREAD OVER SEVERAL YEARS BY. SMALL MONTHLY PAYMENTS,

ALL MORRISON' PIANOS ARE FULLY · GUAR- ANTEED FOR TEN YEARS.

FULL PARTICULARS AND PRICES ON REQUEST..

TSANG FOOK PIANO CO.

9 ICE HOUSE STREET HONG KONG

USE ELECTRIC CHROMIC NEEDLES WITH YOUR PICK-UP

16

OUR BRITISH CROSSWORDS

13

ACROSS

26

121

1 Nance heard buzz (nnug.).

Being who hardly changes whe ther kind or not.

10 Stopping, but not in a tooth. 11 One gets it even in Iran.

In case you see a little bunst.

13 Remain.

16 Italy has had this town for some

time.

17 After being this it's no great

elange abroad,

19 Twines.

Cl

25 Family man's sister. 26 Short in fibre.

27 Men of letters in Russia.

30 Antarctic manner.

31 London suburb, livelier than it 32 Choir hurt, sunny? (ann;t.).

sounds.

DOWN

-1 --Numbers-are...

2 Plying action; there's money in

3 Stylish.

4 This dog is not used by firemien.

This sheds light on street truc ing conditions.

6-He expelled the Titane.

7 His head's often in the clouds

but he's wide awake,

8 Open-mouthed.

+

THE KING'S RETURN

■

SPECIAL PRECAUTIONS TAKEN AT ATHENS

Athens, Nov. 12. Rigid precautions to prevent

Have you "FOOT ITCH" ?.

Warning! Stop "foot itely use the power. ful antiseptic that kills ringworm of the toes, relieves and heals the feet.

ABSORBINE JR.

Practice Makes Perfect-Sometimes

TIRED, HUH? SURE, I BUT IF YER TIRED BE- /CAN! I'M FORE YA START, HOW *THEN YA

CAN'T DO POSITIVE TH' HECK CAN YAZ

IT

OF THAT!

WELL-

20

13

10

14 Roadster rapidly disappearing.

16 1e glves a lotter put in the

dour.

18 A moving gume, sounds chilly.

20 Seat after a royal borough. 21 Mark this, not to run.

22 Slight.

23 Like "a plg."

24 Little girls or big giris.

28 Madame's husband. 20 An innocent plot.

Yesterday's Solution

SHOT E POSLO

A ETHIMSELF "I COWER PENTINGE T ME-OPERATE EK STRAWREN NO NOE

■ BID. COUCH MUMİ VINEGAR EARNE 8 T

I NA LA BANSMA INH| B KIPPER CAMBRIC SEMEN RAVEN U. of ORA INMS USING ILE I'M POSTS C■ I FLING AD IPPUSHER TE HARBOUR O`L KNO TË TONI YARNG

disorder on the return of King George are being taken.

the

A Government order banя throwing of flowers along the route to the Palace and the palace warden, will refuse entrance to all. strangers-United Press.

CANTON AGENTS

for

Ke

Hongkong Telegraph.

WM. FARMER & CO. Victoria Hotel Building Shameen, Cantón.

Tal. 13501,

By Small

I SWAM IT TEN TIMES THIS MORNIN

JEST TA SEE IF I COULD!

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