The Bismarck Tribune Newspaper, December 12, 1921, Page 7

aELP W WANTED_—MALS PERSONAL)“ ° WANTED—A live wire man as dis trict manager for Bismarck and surrounding rritory”- We give thorough instruction and have 3 good proposition for the right man. if you want a business of your own write W. L. Boyce, District Mana- ger, Equitable Life Assurance So- ciety, P. O. Box 601, Fargo, N. D. BELP WANTED -FEMALE * WANTED—Help for’ general house- work; elderly fady preferred. H. 0. Childson, Zap, N. D. 12-10-2t WANTED—Experienced girl for gen- eral housework. ‘Mrs. C. E. Stack- house. Phone 594. 12-12-lw BOARDERS WANTED BOARD:AND ROOM in modern home, home cooking, reasonable rates, close‘in. Call at 206 Thayer. 12-8-1w BOARDERS WANTED— Room and Board or Table Board at The Dun-| raven. 212 3rd St. - Phone 356. 11-30-2w FOR SALE OR REN? we HOUSES AND FLATS CR SALE—Two-room house, partly modern, with fine 50 feet of ground for $1100, with small payment down, then monthly payments; party will trade improved Bismarck | pnoperty for satisfactory Burleigh county farm land, if price, etc., are satis- factory, Go. M. Register. 12-12-1w FOR RENT:Seven room modern house at 311 Ave D between 3rd and 4th streets. Inquire of L. A. Pierce. 404 5th street. Phone 512J. 11-25 tt FOR RENT—Seven-room house, with bath and electric lights, Avenue A. __and 3rd St. Phone 905. 11-26-tf FOR RENT—Small three-room hotse’ at 522 7th St. Phone 609-J. 12-10-3t furnished 12-9-3t_ FOR RENT—Completely 4-room house. Call 535J. 1 -Tribune. * | WANTTD—Washings :PILEPTICS—Would “you care to learn about’ New Rational _treat- ment for immediate relief of Epi- lepsy, positively stopping . seizures from first days use. Information free. “Specialist” Drawer 592, Lander Wyoming. 24ND FARM SNAP—$500:cash payment will buy you a good 160-acre Burleigh county farm, improved house, barn, granary, new well, 40-acre pasture; a fine ppportunity to get a sood farm on exceptional terms; per acre $16. Phone 961. Henry & , Henry. 12-12-2t HAVE SEVERAL OPENINGS for ex- perienced stenographers to operate Royal * typewriters.” Permanent. State experience, andsalary expect- ed in first letter. Only experienced need apply. Write Tribune, 316- 12-10-1 wk. FARM. WANTED—Wanted to hear from owner of a farm for sale, give lowest price, and full particulars. L. Jones. Box 551, Olney, Ill. 12-12-1t WORN. WANTED 12-10-1t ‘THORQUGHLY COMPETENT woman hi wants work‘hy the hour or work to take home. 214 So..7th St. Phone 179W. 12-9-3t Hemstitching, picoting, novelty pleasing, up to ten inches in width. Mrs. Hannah, Larsen, 400 4th St. 12-9-1w GIRL from country wants position. General housework. Write 317 chre 12-12 3t or work by hour, Phone 456-M, or call 31. 8th St. 12-6-5t —S AUTOMOBILES — MOTORCYCLES FOR SALE—Ford truck, stakes, body and cab. Run'less than 1,000 miles. Tires good. Finley Baker, Phone 203, BS 12-10-3t LosT. LOST—Plain gold wrist watch, mark- FOR RENT—Modern house. 607 12th St. MISCELLANEOUS GARRISON SECOND, HAND STORE We buy and sell all kinds of house and office furniture. We pay the highest cash price and guarantee what we sell to be as represented or no sale, you to be the judge. We repair and rebuild furniture at the right price. Our prices and terms are fair to all. When you want to buy or sell second hana house or office furniture. SEE US. 107 Main St., or phone 398, A. M. Garrison, Owner. WANTED TO TRADE—A 129 acre good farm—good improvements. at, Henning, Minn., for improved 1-4 or 1-2 section here. Must good de- sirable land. Write L. ry, Man- dan, N. D. 12-9-3t FOR SALE—Pool hall located 4f thriving mining town, population 1,500. If interested write for par- ticulars to Fagerlund & Moe. Wil- ton, N. Dak. 12-10-1wk FOR SALE—Five good pure-bred Po- land China Boars, cheap if taken soow. J. M. Thompson, Wilto Inquire 12-9-1w SWBET OREAM For Sule- Ca fur- nish 25 gal. per week. Thore Naa- den, Braddock, 'N. PD. 11-31-2w FOR SALE—Large size flour sacks, $1.00 per dozen. Barker Bakery and Candy Co. } 2-9-3t ——_—__________ { ‘MARKETS | <<< __+1 STRIKE HAS LITTLE EFFECT ON MARKET South St. Paul, Minn-, December 12. —While“the packers here and else- where have been operating under somewhat of a handicap during the past week on account of the meat cutters’ strike, the markets have been“ little affected. Most. kinds of killers and stocker and feeder cattle closed steady for the week, with some of the,common Killers and canners and cutters weak to 25c lower. De- mand for “hogs and sheep has been active and prices closed irregularly higher than a week ago on hogs and all classes of sheep and lambs. , General quality of the beef steer of- ferings has been plain. A few lots of warmed-up and shortfed cattle have sold from $6.75 up to $9-25, but bulk of the beef steers again moved at $5 to $6. Butcher cows and deifers sold largely from $3.25 to $5.00, with good young cows and handyweight heifers from $5.50 to $6.00 or slightly above- Canners and cutters sold at the close largely from $2.00 to $3.00, bologna bulls $2.50 to $3.25 Best light veals sold at the close at $7.50, with a few up to $8.00. Common and medium | grads of stockers and feeders sold at the close largely from $4.25 to $5-00, with good and choice kinds very scarce. Range of prices on hogs Saturday $6.00 to $7.00, bulk $6.50 to $7.00, good pigs $7-75. Good and choice native and fed western lambs $10.25 to $10.60, choice light yearling wethers up to $8.90, and choice native and fed west- ern ewes from $4.25 to $4.75. LARGE DELIVERIES MADE Chicago, Dec. 12—Large deliveries here on December contracts had a bearish effect on the wheat market ed_on back with M. F. W., Feb. 5, 1918. ‘Return to 415, 4th St. Re- ward. 2 12-10-1t BOOMS FOR RENT FOR RENT—Large modern room. Gentlemen preferred. Board if de- sired. 208 3rd street. Just across from Postoffice . 12-12-lwk FOR RENT—Three rooms with kitch- 11-14-1m} Jer, enette and bath, opposite the Tele- phone office. Apply 8, placgert building. : -3t FOR RENT—Furnished room, ee heat; all modern; above the Em- porium store, on 5th St. Phone 974. ___ 12-6. ROR RENT—Furnished rooms, fully equipped for light housekeeping, 801 4th St. Phone 404-J, or inquire Geo. W. Little. 12-7-2w FURNISHED or Unfurnished rooms for light housekeeping. Bismarck Business College. Phone 183. 12-9-1w FOR RENT—Nice ‘warm modern fur- nished room. Close in. Phone 538-M. 505 3rd St. 12-6-lw FOR RENT—Light housekeeping and sleeping Tooms, 320 2nd St. Phone 544-W, 12-10-3t FOR RENToNicely furnished room .in modern house, 1011 5th St. Phone 987. 12-7-lw FOR RENT—Modern furnished light house-keeping rooms, 713 3rd St. 12-6-1w —ooOoOoOO——— today in the early trading. Selling however, lacked vigor. Opening quo- tatuons which varied from unchanged figures to 1-2 cent lower with May at $1.14 to $1.14 1-4 and July at $1.02 to $1.02 3-8 were followed by slight set- backs all around. ST. PAUL LIVESTOCK St. Paul, Dec..12—Cattle receipts 4,100, Mostly steady. Bulk beet steers $5.06 to $6.00. Butcher cows and heifers mostly $3.25 to $5.00, Can- ners and cutters $2.00 to $3.00. Bolo- gna bulls strong, bulk $2.75 to $3.25, Veal calves steady, practical packer top on best lights $7.40, Stockers and feeders steady. Hog receipts 13,700, fully 25¢ M0 | Freckles and His Friends than Saturday. tange $5.75 to $7.00. Bulk $6.25 to $6.75. About 2,000 pigs here, 50c lower. Good pigs mostly $7.25. Sheep receipts 3,200. Weak to 25 cents lower. Good native lambs $10 to $10.25. Best fed westerns unsold Best light ewes early $4.75. CHICAGO LIVESTOCK Chicago, Dec. 12—Cattle receipts 27,000. Steady to 25c lower. Hog receipts 69,000; 25¢ to 35c low- than Saturday. Sheep receipts 33,990; 50c lower to 25c higher. SVARCK CRAIN (Furnished by Bu-sell-Miller Co.) Bismarck, Dec. 12. No. 1 dark northern . No, 1 amber durum . No, 1 mixed durum .... No. L red durum . No. 1 flax No. 2 flax .. No. 2 ry MINNEAPOLIS GRAIN. Minneapoljs, Dec. 12.—Wheat re- ceipts, 576 cars, compared to 482 a year ago. BUSINESS DIRECTORY ; WEBB BROTHERS Embalmers Undertakers a sia Directors Licensed Embalmer in Char; DAY PHONE 246 NIGHT PHONES 246-887 PERRY UNDERTAKING PARLORS Licensed ‘Embalmer i in Charge Day Photie 100 Night Phohe 100 or 687 —————————————————————— BISMARCK FURNITURE COMPAN 220 MAIN STREET Upholstered Furniture Made to Order DOINGS OF THE DUFFS Wee he TOM, DO You KNOW WE HAVEN'T ORDERED ANY. CHRISTMAS..CARDS YET? |WAS LOOKING AT SOME 'WE-RECEIVED LAST YEAR TO GET A SUGGESTION- THE BISMARCK TRIBUNE YOU MUST LAY AWAKE NIGHTS| TRYING, TO - THINK HOW<TO SPEND MONEY } WISH WE COULD GET UP A CARD WITH SOME GIVE MEA LITTLE, ORIGINAL VERSE | piece oF ON (T- SOMETHING THAT | paPER- PLL EXPRESSES OUR OWN THOUGHTS - Cash" No. 1, $1. 22 to $1.26 3-4; Dec., $1.19 3-4: _ itd $1.195-8; July, $1.16 5-8. Corn’ No. 3 yellow, cents. Barley, 37 to 61 cents. Rye No. 2, 773-4 to 74 3-4 cents. Plax, $1.82 1-2 to $1.93 ie 2, 39 to 391-2 HORSE FOR 50 CENTS Deeside, Eng, Dec. 12—An example of the slump in farm stock prices was presented at a sale here, when ‘a work horse was sold for 50 cents. pee PREDICTS CHEESE ROAD Bath, Eng., Dec. 12—Roads with 4 surface like hard cheese and tinted to harmonize with the prevailing col- or of the surnounding country are forseen by Dr. Edwards, surveyor of Bath. The road hog will be extinct, he says. STATE INDUSTRY LOSES MONEY AT RATE OF $2.50 A MONTH (Continued from Page 1) 248,600; shorts, 221,600; screenings 80,700. There were 3728 patent bar- rels manufactured and 1,036 clear bar- rels. / The statement says that the “we will again refer to the subect in our closing paragraph of our audit report of April 27th, where we stated that the commission should be in closer touch with operations at Drake, and suggest- ed that copies of all checks, cash journal vouchers, covering all ex- penditures other than grain, should be sent in at least once a week, and in addition thereto, the manager at Drake should report a complete state- ment every month, settling up a hbal- ance sheet and income and profit and loss account, and a detailed statement of accounts receivable.” It adds that “there is’ no economy in cutting down the office force to save. $150.00 to $200.00 a month and then have losses accrue at the aver- age of $2,500.00 a month.” Full Report of Audit, After explanatory remarks concern- Tom Dashes Off One . BY ALLMAN. —————__—_____. YOU KNOW AS WELL AS | Do THAT WE CAN'T: GIVE PRESENTS TOALLOUR FRIENDS THIS _- YEAR AND WE WANT To REMEMBER THEM SOME SEND ’EM A CARD "EH? NOT SUCHA BAD IDEA- , I'VE BEEN ROBBED & TAXED & ALL THAT STUFF, UNTIL I'M DOWN AND ALMOST OUT— THAT WILL Express 1! VVE GOT COLD CHILLS FROM ALL MY BILLS AND FIND TIMES PRETTY TouGH— PM BENT AND ALMOST BROKE BUT STILL HAVE JUST ENOUGH TO-MAIL A MERRY CHRISTMAS CARD FROM ‘Tom & HELEN DUFF. | | ing the index the Equitable Audit | Company’: 's discussion’ of the Drake | mill under signature of M. W..Thatch- er, president, follow: Accounts receivable—$11,946.58—we have prepared under Schedule A a de- tailed statement of this' amount and for your information have divided up the amounts so as to classify them as to their past due dates, in periods of thirty days, sixty days, two to six months and of six months. It would appdar that more effort should be made in the collection of these items. “Inventory—$17,366.74- A detailed statement is given, setting forth the inventory as presented to us, in a de- tailed statement signed hy J. W. Mil- ler, ‘head miller,’ and F. Gorman, ‘local manager.’ The prices which we used for flour sacks were approxi- mately at cost. The same applies to the offal and wheat. The and sundry supplies were inventories at present value. “Accrued profit on open trades— $968.50—we requested the manager to wire. the Equity Co-operative Ex- cahnge at St. Paul to furnish us with information necessary to a verifica- tion ‘of the open trades. A copy of the telegram sent to the Equity Co- | Operative. Exchange is as follows: Give Equitable Audit Company any information required regarding our account for auditing writing.’ On the afternoon of Oct, 27th, we telephoned the Hquity Co-operative Exchange for the desired information and they re- fused, on the ground that they must have a properly signed letter on file. We were therefore obliged to take the records as given us by the Drake manager, and which are shown in -de- tail in schedule E. According to this statement of Open Trades, there are outstanding options sold as of October 15th, 1@ Minneapolis December wheat, which on a basis of the close of this option on this date, reflects an ac- crued profit in amount $962.50, Ac- cording to the inventory, there was on hand in flour 866 barrels, or the equivalent of approximately 4,300 bushels of wheat. There was on hand 8200 bushels of wheat, making an aggregate of wheat-flour eauivalent to 12,500 bushels, [Freckles and His Friends and His Friends " WeWLO Pop= IM GONNA BLAY WITH TIME. OUT ALREADY ? WOW ARE YouR MARKS * C WHATHIS ScHOOL FoR To-DAY ? a ONE HUNDRED! T WATS PERFECT, Pop T Gor 100 , DIONT FAIL ‘To SEE IT, FRECKLES ! “By referring to Exhibit 6, it will be observed that the unreported con- signed tour aggregated approximately 1,125 “barrels, or the equivalent in wheat to 5,629 bushels, ‘Therefore, the option solid on uctober loth to cover wheat flour on hand should have beeu 1zuu0 or 13,000 bushels, and if the options are to protect not only wheat sjlour on hand, but aiso flour on con- signment not reported sold, there would have to be an additional 5,600 more. ‘The total amount that the mill was long on October 15tH, was 18,000 bushels against which have been sold 10,060, Storage accounts—$4,606.12—Under schedule F will be found a detailed statement of this account, the amount of which is $24,606.12. On the balance sheet we have deducted the $20,000.00 as a reserve tor possible loss and ca! ried onto the assets oniy $4,606.12. A little study of Schedule F will reflect quite a serious situation. On our audit report of April 27th, 1921, we showed an amount due for goods sold but. unpaid, $18,368.10. In the past five and one-half months,the only pay* ment: recorded at Drake against this asset is for $188.51, which amount is a 10 per cent dividend from the de- funct People’s Consumers’ Store coni- pany or the Capitol Commercial Com- pany of Bismarck, North Dakota—that is, on goods reported sold, for which no payment accompanied account of sales, “On the other class of business with the Consumers’ United States Com~- pany—that is, with respect to goods charged, and for which no accounting hag heen made and which covers thir- teen stores—only four of these thir- teen stores have made any payments during the past five and one-half months. The other nine have reported nothing. “Industrial Commission — The five elevator points have reported some business and sent some payments on account. “This class of business is obviously a very costly one and it is quite ap- parent that the Drake mill is going to sustain a very substantial loss on this business. At 6 per cent interest, the interest cost alone of carrying this ‘| point) is PAGE SEVEN was $123.00 a month, We have no report from the manager at Drake as to his activities in attempt- ing to collect on any of these storage accounts, but is very apparent that efther he has neglected to give this part of the business proper attention, or the accounts are not of much value. “As the result of our investigation, we feel satisfied in setting up a reserve of $20,000.00 as a possible loss in this connection. This entry of course has not been placed upon the Drake books, ; and will not be, except upon your or- der, Value of the Plant, “Plant and equipment—$29,013.73— | We have prepared a detailed state-, ment of this account under schedule G which is the result of an appraisal made by the Drake manager with the assistance of one of our staff. “General office account—$82,887.32— As has been shown, credit has been | given to the general account for cash advances on $138,504.38 at the rate of 6 per cent, covering the period from January, ist to October 15th. There are sundry credits given for $2.00 and | also $77.09. Charges have been made | for writing off the excess value on! plant and equipment—$1,077.33, and _ on furniture and fixtures—$1,000.00. A further chirge is betng made for re- serve, for possible loss on storage ac- counts—$20,000. The. last we have charged is for the loss covering the period from January 1st to October 15th, which covers three items: Oper- ating loss up to April 27th, exclusive of interest on investment—$4,297.42; operating loss April 29th to October 15th, exclusive of interestyon inves ment—$11,723.09; and interest on in- vestment from January 1st to October 15th, 1921—$5,691.91, or a total loss for the period January 1st to October 15th of $21,712.42. “The net balance, according to this statement, due the general office for advance: of date October 15th, 1921, is $82,887.32. Operating Account—Under exhibit 2, we have prepared an Income and Profit and Loss Account for the period April 27th™to October 15th, 1921, which reflects a net loss for the period $11,723.09, exclusive of for interest on working capital. , This amount of lo: found on Schedule land is charged to the General Office Account. “A little study of this exhjpit shows that during this approxima five and one-half month’s period there has been manufactured 5,414 barrels of flour which compared to the previous four months of the year 1921 (at which time there was made 4,209 barrels) shows that the monthly output is maintained at about 1,000 barrels of flour pe rfonth. ‘here is this ex- ception, "however, that for approxi- mately one month the mill was shut down for repairs and cleaning up. “On exhibit 3 is shown the amount of flour manufactured by months, and nearly one-half of all this flour was made during the month of Septem- ‘ber and the first half of October. “As will be observed on Exhibit 2, the average cost per barre! manufac- tured was $7.65, and considering the cost of inventory at the the beginning and the inventory at the end, it shows that the average cost of the flour sold was $8.04 1-2. o Average Sale Price, “The exhibit also shows that the average sale price was $7.28 1-2, or an average loss on each barrel of flour of $.76, all of which resulted in a loss of $5,961.15, yet as a matter of direct application, the loss if con- siderably more per barrel, for the fol- lowing reason—Reterence is made to our audit report of April 27th and our commentary on page 4, first, para- graph, under ‘General Remarks.’ It will be observed in this paragraph that after the close on the date of April 27th, the Drake mill had an ac- crued profit on open trades fn amount of $4,700, which we neither put on our statement nor entered on the books at Drake, for the reason that we anticipated a severe loss on three ears of consigned flour to an eastern point. These three cars were carried on our audit report of April 27th as ‘Flour in ‘Transit,’ with a value of $12,300.00, and are discussed on our April 27th audit report, page No. 3, under theheading ‘transit flour.” We state under th: subject matter, that we estimate that there is no doubt a loss.of $2.00 a barrel on these 2,000 barrels, Therefore, on the April 27th audit report, we neither accrued the estimated loss on transit ficur, nor the accrued profit on open trades. “On this audit report of October 15th b final accounting of these thie cars of flour, which shows a loss of $5,105.57. Therefore, whereas we did not give the credit for $4,700.00, for previously ex- ed in $5,105.57, so that our estimate of last spring was within: $400.0) of the final transaction. that the loss we show on flour sales— \in amount $5,961.15—is as a matter of fact larger, the reasoning-is thi: Following the audit report of Ap’ 27th and in the forepart of May, most of the old options or April 27th were; closed out and profits in excess of} ft 000.00 were taken onto the Drake | ooks in an account called ‘Hedges.’| This account in its finality on October | 15th, sed out against the wheat uccount—that is to state, the credit balance of this account of ‘hedges’ is transferred to the cost of wheat on the theory that the ‘hedg -trans-- ferred to the cost of whe: That be- ing the case, the wheat account of Ex hibit 2 has enjoyed the accrued profits | on open trades on April 27th, and to which it is not entitled. Therefore, | a more correct statement of this af-| fair would be to show the loss on flour sales to be $4,700.00 more than the $5,961.15, and the loss on the three cars of transit flour—$4.700.00 less. If this reasoning (which is our view- correct, the loss per hav~el on flour sold is nearer $1.40 a barrei. “Now, there is something vitally wrong with the situation and it would almost appear that the ‘hedging’ has; been inaccurate, which has resulted in excessive option losses, or not enough option profits, or the cost of wheat, etc., was excessive or the man-; ufactured products were sold for les than they ‘should bring. With re- spect to the latter statement — of course competition is the controlling factor. ei, .| tween the and on Exhibit 2 will be found the], plained reasons, the final loss result- |‘ “Now going ‘back to the. argument |° The only manner in which this matter could be entirely set forth would be by making a rigid investiga- tion of option trades, a comparison of selling prices with other people and also a comparison of prices paid for wheat, etc, as against market, at their respective purchase dates. a “The loss on cereals has to do with a small amount of this class of goods, - which has been carried for a long time, and because there has been lit- tle or no sale for it, we have written Vit off the books. “It will be observed we have made a charge for loss on sacks, the rea- son of which is shown on Exhibit 3, left-hand side of the bottom of the page. In making this:\computation, we try to lean quite favorably towards the mill—that is to state, we used as large a cost as possible for determining the amount to be charged for sagks used. On this favorable basis, we cannot ac- count for $823.88, “Because bookkeeping at the Drake mill has not been kept up in accor anGe with the system, it has been im- possible for us, in the length of time that we have had to do this work, t allocate the loss in sacks by sizes, grades, etc. “By referring to Pxhibit 3, it will he found of interest to note the produc- tion records and statistics in aonnec- tion therewith. Shortage Shown, The net shortage, with respect to flour made and account for through saleS, is about 21 barrels, and is not of a sufficient amount to warrant any uneasiness, because of the difficulty in establishing correcting inventories at beginning and end, and further be- cause the accounting system as in- stalled has not been properly kept up since April 27th. We had to make all the final computations with respect to manufacturing, and had to make all of the addition: r the distribution of sales, with respect to the quantities, and further to prove the distribution of production sales, as to classes of goods sold, with respect to dollars and cents. This all took a great deal of time and did not leave us a sufficient ny charges | #mount of time to allocate the kind of packages short. “It will be observed that the pro- duction overrun, which is shown at the bottom of the right-hand side of Exhibit 3 is 44,987 pounds. It will also be observed that the shortage on bran, screenings and shorts amounts to 99,650 pounds. The difference he- age on sales realized as against t verrun on production is about 55,000 pounds, and which would appear to be a far closer fig- ure, even though a shortage, than to have an overrun of 45,000 pounds, be- cause shrinkage is expected and the only way an overcharge could come about would be through running ex- cessive moisture into the wheat or putting up short weight packages, neither of which is even probable. “Another argument against the overrun in the production is that which shows that the percentage ,of flour is only 66 per cent, when it should run around 69 or 70 per ceat, and the offal around 30 to 31 per cent. “The percentage for patent and clear flour indicate that a very choice patent flour is being made. “Under Exhibit 4 will be found a detailed statement of expenses, and in connection with which a very pleasing fact is that while the cost per barrel in the audit of April 27th shows $3.27, the cost per barrel at this time is $2.29, a reduction of almost $1.00 a barrel in costs. “Under Exhibit 5 we have prepared a trial balance of the general ledger, as of October 15th, 1921, irrespective of any adjustments that we have made in the closing statements. “Under Exhibit 6 is a statement of the consigned stock accounts which shows a Getailed inventory of all coa- signed stock, which has not been re- ‘ported as sold, and further, the amounts of goods sold at the respec- tive points, as between the dates of April 27th and October 15th, 1921. General—We found all funds ac- counted for. “We previously stated in this report that the accounting system has not heen properly carried out since April 27th, sin.c which date there has been no trial balance of the accounts re- ceivable, and we vere told only those of the general led:er. “We spent a g.eat deal of time to try to get the accounts receivable and this report, it is not in agreement by PS Advice to Commission, “We will again refer to the subject in cur cl ng paragraph of our audit report of April 27th, where we stated that the commission should be in clos- er touch with operations at Drake, and suggested that copies of all tcheck journal vouchers, cover- ling all expenditures other than grain, should be sent in at least orice-a week, and in addition thereto, the: manager ke should report a complete y month, setting up a nd income and profit ‘unt, Ailed state- We tur- ticular attention are be used in ra s called that great keeping the ‘hedge’ ount properly balanced and the consignment ac- counts given earliest consideration. “There is no economy in cutting down the office force to save $150 to $200 a month And then have losses ac- crue at the average of $2,500.00 a month. “Accurate accounting at the short- est possible intervals is the most nec- \essary requisite of any good business, and no institution can hope to suc- | ceed without it. “Every. assistance and courtesy was extended us to make this examina- tion thorough and comonlete.” Respectfully submitted, EQUITABLE AUDIT COMPANY, INC. r M. W. Thatcher, President. $1 FOR HIS HONESTY Hull, Eng., Dec. 12—A former ser- vice man picked yp a nocketbook con- taining $15,000 in documents and checks. His reward was $1. aaa ENGE, D. C. Ph. C. Chiropractor Coasultation Free _ Suite 9, 11—Leecas Block—Phone 268 ledger to balance, and at the date of _~