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LAKE PLACID NEWS. FRIDAY, JUNE U, 1932 — PAGE FOUR The Lake Placid News Official Newspaper of the Village of Lake Placid, Essex County, N. Y. GEORGE M. LATTIMER, Publisher CLAUDE TOWNE, Business Manager Entered in the Lake Placid Post Office as Second Class Matter, May 22, 1905 Subscription Price, $2 a Year in Advance Advertising Rates on Request THE PARAMOUNT ISSUE In the midst of all the political jockeying which is inseparable from a presidential campaign, the paramount issue which interests the American people as a whole is that of unemployment. When millions who are begging for a chance to work are denied an honorable means of earring a livelihood, all other problems seem insignificant. The efforts of politicians to place the blame for present con- ditions on this party or that, or on this official or that, are manifestly insincere and futile. No political party, no official or group of offi- cials of the government, can be held responsible for the unhappy econonic plight of this nation and of the world. The best brains of America and other nations have long been devoted to an earnest effort to find a solution to the world's economic problems, but without success. Here and there & remedial action has given a small measure of relief. But, broadly speaking, the problem is still far from a solution. It might be well, therefore, for the mass of our citizenship to dis- count the claims and counter claims of politicians during the forth- coming campaign, and demand a facing of these pressing problems on the basis of reality rather than theory. Whenever either of our political parties can give any convincing evidence of real accomplishment in the direction of restoring pros- perity, that party should have the support and applause of the genera! public. But until such a showing of concrete results can be mack, the average citizen is justified in considering all the partisan ballyhoo as just so much political bunk. If prosperity is to be restored, it must be through the cooperation of all parties and all the people. This is not a partisan question. Maybe that corner we have been expecting business to turn has only red traffic lights. > Party managers will shortly call the rolls of the faithful, but their \rolls\ will be less bulky than in former campaigns. Republican convention delegate* cheered mildly when Lincoln's name was mentioned. Democrats may be expected to give gentle applause when somebody refers to Jefferson. At least Sharkey's eye gave the announcers something to talk about during the \fight\ Tuesday night Schmeling, brushing his hair from hi* eyes innumerable times, also furnished an interesting topic ALANDFANNY | STEDMAN AT PALACETUESDAY Wii Top Vauderilk Prsgrwa — Greta Garbo k Aa Yea Desire Me\ Sunday and Meads? On Sunday and Monday the theatre goers of Lake Placid and vicinfty will have the opportunity to see the screen's foremost- act- ress when Greta Garbo appears in her nearest production, \As You Desire Me.\ Directed by Geo. Fitzmaurice with Erie Von Stro- heim, Melvyn Douglas, and Owen Moore in the cast, this production is said by the newspaper critics to be Garbo's finest, a broad state- ment when her other successful pictures are considered but a statement that is being amply at- ested by city after city where As You Desire Me\ plays. The schedule of daily matinees now be- ing in effect at the Palace there will 'be matinees both Sunday and Monday. On Tuesday a five-act bill of vaudeville is promised that seems to top all previous bills by a good margin. In the first place the headline act is none other than Al ard Fanny Stedman, two big tim- e*s in the exact sense of the word. Not a season has passed that Al and Fanny Stedman have not played the Palace, New York, at |lekab once and for years their comedy capers have been gracing the stages of the finest theatres on the Radio Keith Orpheum cir- cuit. As is the case with all real headline acts it is not what they do so much as the way in which they do it, personality, ability and a comedy flair have put them at the top of their profession, which is making people laugh. Campbell and Co. bill themselves as illusionists and in their reper- toire of tricks are some amazing magical happenings as well as some humor. Fields and Hughes are comedi- ans who also sing, or singers who also are comedians, either way de- scribes their act which is a com- bination of both well blended and of real big time calibre. For the dancing fans this week's bill presents a real treat in \The Racket Tappers,\ who style them- selves the 'three dancing sports.\ Their dancing is of the type that enthuses the auditor and this act wit! be to many one of the best ever sees here. . - : The Bickford family, five in all, present their own miniature revue called, \Steps Songs and Tunes of 1932,\ a melange of everything that goes to make up a better than average musical comedy. For the phwto-play Tuesday at- tention is called to a deviation from the regular printed program. Leslie Howard will be seen in the comedy hit produced by Para- mount, \Reserved for Ladies/* This supefsedea, >\3eefety OM,- f which will be seen Wednesday. Following the custom of the Keith vaudeville theatres three performances will be given Tues- day, the matinee at three o'clock and two evening performances &t seven and nine-fifteen with the complete picture and vaudeville program appearing at all three shows. New Tax on Bank Checks and Safe Deposit Boxes Hon. David Burnet, commission- er of internal revenue, has issued the following statement relating to the new taxes on bank checks and leases of safe deposit boxes: \Under section 751 of the new revenue law a bank, banker or trust company is charged with the duty of collecting a two-cent tax on every check, draft, or order for the payment of money drawn on it, and presented for payment on or after June 21, 1932. If the business of leasing of safe deposit boxes is carried on, the bank iB charged under section 741 of the law with the additional chity of collecting a tax amounting to 10 per centum of the sum paid on or after Jane 21, 1932,. for the use after such date of any safe deposit box. \The tax levy on such checks, drafts ttnd orders is not in the form of a stamp tax, as was the case under the Revenue Act of 1898, but is payable by charging the amount of the tax against any deposit to the credit of the maker or drawer of the instrument. The new plan of Electing 1 the tax is free from the difficulties attending the purchase and affixing- of stamps, obtaining **&? the 1898 act, and eliminates vexations ques- tions concerning the validity of cheeks not bearing- a stamp. The bank, bafoker, o? trsst company on whom the checks are drawn is required to prepare and file a re- turn of the tax monthly with the collector of internal reventie. rm. ficker Tape Not Trae of Bosmess A writer in the Wall Street Jour- nal reminds the world that in 1929 everybody who could do it, was borrowing money at nine per cent to buy stocks at prices which cap- italized earnings on a basis of from four per cent downward. And today nobody is borrowing money altho it is to be had at half the price of 1029, to buy stocks at prices which capitalize earnings at six, eight, ten per cent, or more, and bonds which are still paying interest at prices that virtually discount bankruptcies which are £si likely to happen. la otoer words, in 1929 the tick- er tapes upon which stock quota- tions appeared lied to us outra- geously. They- conveyed the im- pression that the stocks whose prices they quoted were valuable assets, worth the money and likely to be worth more, and that business was en a plane of high and per- manent prosperity. % In spite of the utter unreliabil- ity of the tapes in 1929, as we now are aware, everybody seems still to be pinning his faith to these same tapes as they come through the ticker today registering prices that are as far from reflecting ac tual values as were the prices that appeared on these tapes in 1929. The tapes do sot-lie* They record the figures at which actual sales are made. But they may be fright- fully misleading as an index to the future of business. We know they were in 1929. Is it not possible they are in 1932? The iniquity of this tape obses- sion, the habit people have fallen into of watching stock exchange quotations and looking upon them as an index of business, is that the index is not dependable. The bus- iness of the country is not con- centrated in Wall Street, and its statu3 is not accurately reflected in stock exchange quotations. A far more accurate reflection, a re- flection indeed that is absolutely accurate, Is the price of commodi- ties. A falling commodities m ket is an invariable and Inevitable evidence of declining busitw while a rising eoaimodiiy market is Just ch© opposite. If you really want to lmow whether business is rising or deelinig, read the com- modity quotations and take your eye off the ticker tape. Uncle Ab says if practice makes perfect a M of fo.Tcs know how to be perfectly wrong. BRIDE IMF DAY LEAVES WITH GROOM'S POSSESSIONS According to the Keeseville Re- publican, Joseph £. Eabatoy of Au Sable Forks, formerly of Port Henry, was married June 8, at Albany, to Miss Ratberine Weed, 17, and took up his residence in that city with his new bride Upon returning from his work the next day he discovered that his bride of a day had left hiaa, and with her had taken most of his worldly goods, leavingiw wwu of expla- nation. News Classified Ads bring qmck Repeets at Uimre The late C. E. Titman of Phila- delphia lived for years in compar- ative poverty because he took a doctor's ©pinion too seriously. Fif- teen years before his death Titraas received a legacy of $250,000.. At the same time a physician told him he had less than a year to live, so he proceeded to spend his whole fortune in a few months. But he got well and worked for small wages tiie rest of his life. Cook Quickly Cook preserves rapidly to retain the bright color of the fruit, Lacolle Inn LACOULE : : : : : QUEBEC Rente »-King EAnrd Highway Regalar Dinners Steaks and Chops Sea Food Fresh Daly Dancing Every Night 6 M to do** Chicken and Waffles ALL YOU CAN EAT $1.00 Will Be Served Daily at (NooaudNwk) The Alford Inn ill ADDITION TO THE REGULAR 75c. DINNER MG5JE COOKING HOME MADE ICE CREAM Serred fro* 12:30 wrti 2:30 JEWELRY A. H. 62 MAIN STREET MUST - MNNY, Jeweler SARANAC LAKE - CASH - AT, - ONCE ON SATURDAY, JUNE 25th at 2:30 p. m. we will offer for sale at PUBLIC AUCTION to the highest bidders, regardless of cost, choice of our entire stock consisting of Diamonds, Watches in both ladies 9 and gents 9 models such as Hamiltons, Gruens, Bulova, Waltham and other well-known makes, Gorham and Towle sterling silver flat and holloware, electric and winding Clocks, 1847-Rogers and Community Silverware, gold jewelry, crystals, beads, compacts and other items too numerous to mention. This sale will continue daily at 2:30 and 7:30 p. m. until the necessary amount of cash is raised. We are not going out of business, and every article purchased during this sale carries with it the same high standard of guarantee as though you paid the regular retail price. DOORS OPEN 30 MINUTES BEFORE EACH SALE STARTS FREE! FREE! 2 BEAUTIFUL DIAMOND RINGS GIVEN AWAY DAILY. NO OBLIGATION TO BUY TO PAR- TICIPATE IN THESE GIFT DRAWINGS. A. H. DENNY, Jeweler ESTABLISHED 23 YEARS 62 Main Street Saranac Lake FREE! FME! Vakable presents given away daily dering onr sale.
