A sourface seldom lands sweet orders. Grin!

Special Session Of Legislature Will Consider 4 Per Cent Corporation Tax

There will be a special session of the California Legislature at Sacramento, beginning September 4th, which plans to adopt an amendment to the Constitution of the State providing for new corporation taxes. The plan that the lumbermen are particglarly interested in is taken from the official call, as follows:

"(2) Corporations doing business in this state, of the class covered by subdivision (d) of Section 14 of this article, in lieu of the tax thereby provided for, shall annually pay to the state for the privilege of exercising their corporate franchises within this state a tax according to or measured by their net income. The amount of the franchise tax shall be equivalent to 4 per cent of their net income. The tax shall be subject to offset, in a manner to be prescribed by the Legislature, in the amount of personal property taxes paid to the state or political subdivisions thereof, but the offset shall not exceed 9O per cent of such tax. In any event, each such corporation shall pay an annubl minimum franchise tax to the state, not subject to offset, of $25."

Another new provision is that mortgages, accounts receivable, stocks and bonds, shall be taked at the rate of four-tenths of 1 per cent.

The Legislature would be authorized to define "corporations", "net income", !'doing: business", etc.

Another provision deals with banks and national banking associatigqs e;clusively, and provides for a special tax of 4per cent, ''

,. MAX SMITH VISITS LOS ANGELES

Max Smith, Assistant Manager of the Portland office of the E.'K. Wood Lumber Company recently spent a few days in Iios Angeles.

Smallfire Loss

The Turlock Lumber & Mill Company of Turlock recently reported a small fire loss in one of their sheds at Hetch Station.

Max Landram On Vacation

Max Landram of the Coos Bay Lumber Company, T,os Angeles, is taking a two weekst vacation to improve his golf game.

Russell Sladelos Angeles Visitor

Russell Slade, Vice President and General Manager of the S. E. Slade Lumber Company, San Francisco, recently spent a few days in Los Angeles.

Handsome El Rey Booklet Published

One of the most handsome of trade booklets, and of its kind, the most complete ever assembled, has just been published by the El Rey Products Company and is being distributed to hundreds of persons interested in building. The book deals with the El Rey roofing products and is highly illustrated in colors throughout.

The beautiful little magazine is Slxll inches in size, consisting of 28 pages. The cover shows a modern Spanish-California style two and a half story residence equipped with El Rey shingles in two colors. A panorama of the El Rey plant, 1633 No. San Pablo Street, Los Angeles, is placed on thefirst inside cover page, which also pontains two photographic reproductions of the miLchinery that manufactures this well known article. Locations of the San Francisco, Seattle and Portland offices are given.

A short editorial "to the trade" reads in part, "Twentyeight years of successful manufacturing experience in making roofing felt is behind El Rey roofing products. The company was in the business of making rag felt when the idea of asphalt roofing was first developed, and was one of the first concerns to begin its manufacture."

The following pages contain a complete manual of tables and instructions for laying the shingles and roofing rolls, with types, sizes, and general descriptions of different styles of the product, all picture4 in natural colors. The migazine shows seven illustrations of fine California homes, copies of 10 year and 20 year guarantee maintainance agreements, and much other information on roofing in general and the El Rey product in particular.