The Bismarck Tribune Newspaper, December 19, 1921, Page 3

: MONDAY, DECEMBER 19, ’21 TAX PROCEDURE I$ EXPLAINED BY COLLECTOR Gunder Olson, Internal Revenue Collector, Outlines Income Tax Methods The following statement is issued by Collector of Internal Revenue Gun- der Olson, for the district of North Da- kota: + “Merchants, manufacturers and bus iness men generally need experience no difficulty in taking their inventor- ies for the year 1921 tp conform with the new revenue act. The language of the revenue act of 1918 and the revenue act of 1921 (Sec. 203), relat- ing to. inventories are identical: “That whenever in the opinion of the commissioners the use of inven- tories is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the com- missioner, with the approval of the secretary, may prescribe as conform- ing as Nearly as may be to the ‘best accounting practice in the trade or business, and as most clearly reflect- ing the income.’ “Present treasury regulations pro- vide that inventories must be valued at either ‘cost’ or ‘cost or market, whichever is lower.’ Taxpayers wer: permitted, regardless of their p: ice, to adopt the ‘cost or market , Whichever is lower’ in taking inventories for 1920. Thereafter, the regulations provide, changes can be made only after permission is ob- tained from the commissioner of in- ternal revenue. “In the case of a merchant ‘cost’ means the invoice price less trade or other discounts, excepting strictly cash. discounts approximating a fair rate of interest, which may he de- ducted or not at the option of the tax- payer, providing a consistent course is followed. ‘To the net invoice price should be added the cost of transpor- tation and other necessary charges in- curre@ in acquiring possession of the goods. “In the case of a manufacturer ‘cost’ means the cost of raw materials and supplies, expenditures or labor and indirect costs incident to produc tion, including a reasonable proportion of management expenses, but not in- cluding any cost of selling or securing return on capital. j “‘Market’ means the current bid price prevailing at the date of the in ventory for the particular merchan- dise. The burden of proof as to the corectness of the price rests upon the taxpayer in each case. Where no open market quotations are available, the taxpayer must use such evidence of a fair market price at the dates near- est the inventory as may be available. such as special transactions or com- pensation paid for cancellation of con- tracts. or purchase commitments. Where, because of abnormal condi- tions the taxpayer has regularly sold merchandise at prices lower, than the market bid price, the inventory may be valued at such prices. The cor- rectness of such prices will be deter- mined by reference to the actual sales of the taxpayer for a reasonable per- iod before and after the date of in- ventory. Prices which vary materiale ly from the actual prices so ascer- tained, will not be accepted as reflect. ing the market. “The value of each item in the in- ventory may be measured by cost or market; whichever is lower. An en- tire stock may not be inventoried at éost and also.at market price, and the lower of the two inventories used. In- yentories on whatever basis taken will be subject to investigation by the Com missioner of, Internal Revenue, and the taxpayer must satisfy the commis- sioner of the correctness of the prices adopted. He must be prepared to show both the cost and the market price of each article included in the inventory: “In the conduct of modern business, vit is of the utmost importance that every. business, large or small, whether corporation, partnership or individual. shall maintain an exact record of re ceipts and expenses. No special sys- tem of accounts is prescribed by the Bureau of Internal Revenue, but the pooks should show in detail inven- tories, purchases, sales, capital invest- ments, depreciation, and similar items required in making up income tax re- turns.” =, i MANDAN NOTES ‘ STILLS SEIZED IN RAIDS MADE ‘BY U.S. OFFICERS —————- Eight moonshine whisky stills were cured at Glen Ullin and three at Ne; ‘Salem. The Methodist congregation expect to occupy the basement of their ne church early in Janary, and are mak church Easter Sunday, as by that tim the main, auditorium will be ready} for occupancy, | Dr. aHrris who was in Detroit,| Mich., has made arrangements with Bishops Burns to behere for the ded icatory exercises. The heating plant has now been in- stalled and new: furniture and light! fixtures have been ordered. Work ot} plastering the church is now under; way and the officers of the church do} not anticipate any delay in the com-| pletion of the work on schedule time. |] John Yetterdahl ized employee of the Northern Pac! railroad com-; pany at Jamestown, died at the orth-| ern Pacific hospital in St. Paul 1 evening, death resulting from pneu: monia and gas poisoning induced from ‘a coal stove. Surviving Mr. Yetter- dahl are his wife and two daughters James Hansen, Henry Opitz’ and; Leslie Harrison, Mandan students at- tending Purdue university, Lat Ind., will not return -for the holiday season. Frederick Tavis, who is also; a student at Purdue university, will; spend Christmas at Colurhbus, Ohio. | Vincent and Leonard Luther have} left for Bigelow, Mo., to spend the holidays with tha grandparents. | Mrs. FE. F. Underhill and Miss Mar- | garet Elliott were visitors here Sat-) urday from Cannon Ball. Mrs. I. @. Iverson has retufned from a visit of several’ months at points on the Pacific coast. Dickinson Man Appears on Screen Dickinson, N. D., Dec. 19.—It isn’t every man who can see himself per- form in the movies. Nevertheless this was the experience of John Morgan- thaller, well known Dickinson boy, this week, when he witnessed the film play “Dangerous Toys,”'\at the Ray Theater. Morgenthaller took the part of “Jack Gray” in the film. Two ‘years ago, Morgenthaller, who is ar actor of ability, spent consider- able time on the Pacific coast where he appeared in stock companies as well 23 in the movies and it was while there that he assisted in the filming of “Dangerous Toys” at one of the large moving picture studios in California. When the fact became known that Morgenthaller was to appear in the picture here many of his friends at- tended and récognized him as he ap- peared in the.scenes while Morgen- thalier himself recalled bygone days as the picture flashed before him. Morgenthaller, who is an old Com- pany; K ‘boy and also served overseas during the World war, has given up| the stage, is married and is now em- ployel by the Walton & Davis com- pany. AROADIA GREAT AERIAL CENTER Is The First. Airship School . In The West Los Angeles, Cal., Dec. 19.—Arcadia 16 miles from here, becomes one ot! the great aerial centers in the United| States with the enlargement of the Army Balloo School at Ross Field there to an Army Balloon and Air. ship School. The war department has sent the largest non-rigid airship ever seen on the Pacific coast, the Airship D3 which participated in the recent aeriak hombardment - of tie German battleships off Hampton Koads, Va. This’ is added to a pony blimp, 20 captive balloons and eight free baloons now at thé post. It is the! first airship school in the west, and| similar to the army school at Langley Field, ‘Hampton, Va. ‘Construction work is under way for}! two great steel hangars at the field. | The Airship D8 is 198 feet long, 51) feet 3 inc! wide and 58 feet hi It has a cruising radius of 790 mil at the cruising speed of 45 miles an! hour, and a radius of 550 miles at high! speed, 60 miles an hour. A crew of; four operates the great airship. There, are accommodations aboard for three | additional officers. The ‘pony blimp which has been inj ‘operation. at Ross Field since March ‘3| of the tractor propulsion, fype, being] 95 1-2 feet long and 30 feet wide. It has a capacity of 35,350 cubic feet of; gas, operated by two men, pilot and engineer,: onc of whom, also operates| the radio. hour at cr: 1 miles, and 55 miles at high speed, Ww ith] a radius of 380 miles. The enlargement of the sc hool pro- | | vides that airship pilots will be grad-| uated in addition to balloon observers. | The A type airship is 162 feet long, | 39 feet wide and 47 feet high, with a} i capacity of 95,000 cubic feet of gas.) taken now the history of Western civ- THE BISMARCK TRIBUNE Only 5 Days Then Christmas PAGE THREE ESTABLISHED 1884 A ‘cin Only 5 Days Then Christmas SPECIAL CHRISTMAS WEEK SALE Suits, Coats, Dresses, Furs Blankets and Underwear What would be more useful or practical than any of these. contemplating giving useful gifts come in early and make your selections. A large assortment of styles in a variety of materials. Many’ “are handsomely trimmed with fur and full silk lined. Wo- men’s and Misses’ sizes $13.50 °22.50 $39.50 $49.50 Dresses Four large sales groups each made up of most unusual values. Includ- vges, Tricotines, Velours and Silks. Values as high as $75.00. Christmas Week Special $13.50 $19.50 $29.50 $39.50 Bath Robes All Bath Robes including sizes for Women, Made of Beacon Robe Flannel and all wool Indian blankets. ed are dresses of Se Misses and, children. Christmas Week Sale at ‘ 259% Discount Blankets Blankets make an ideal Christmas gift, and espe- cially so when one can purchase blankets at such sub- stantial reductions. Cloth Coats Plush Coats 36 to 45 inch lengths. Many are fur trimmed. | ~ $35.00 the newest $49.50 $75.00 or Nutria Coats Coats Coats Christmas Christmas Christmas Week Sale Week Sale Week Sale $24.50 $32.50 $47.50 ‘A small number of beautiful wraps, trimmed with Squirrel or Fitch. Christmas Week Special : One-Half Price ; Women’s Coats $5.00 We have selected and placed on one rack, 25 women’s Winter Coats, in- cluding values up to $25.00. Canist: mas Week Special A warm little Miss. ter coats. in folks. Furs All furs including fur coats during our Christ- mas Week Sale, at 14 Off Regular Price Seen! Many have fur collars. exceptional values. 5 00 $ 7.50 Coats—Christmas Week Sale. .. . ° $ 9.75 Coats—Chrigtmas Week Sale... . 6.50 Coats—Christmas Week Sale $ 3.25 $ 3.75 $ 4.88 $10.00 Coats—Christmas Week Sale... .$ 5.00 $11.50 Coats—Christmas Week Sale... .$ 5.75 $12.50 Coats—Christmas Week Sale. ...$ 6.25 $15.0¢ Coats—Christmas Week Sale. ...$ 7.50 $17.50 Coats—Christmas Week Sale... .$ 8.75 $18.50 Coats—Christmas Week Sale. .. .$, 9.25 $19.50 Coats—Christmas Week Sale... .$ 9.75 $22.50 Ccats—Christmas Week Sale. .. .$11.25 $27.50 Coats—Christmas Week Sale. .. .$13.75 ‘If you are Suits A few model suits beautifully trim- med with mole, Australian Opossum . Also a small number of tailored suits of Tricotine and Poiret twill. Christmas Week Special "he Original Price s’ and Children’s Winter Coats . new coat would surely please the Here are shown many warm win- the newest styles for the little All are most Christmas Week Sale. Sizes 2 to 14 years. Underwear Included in our Christmas Week Sale is our entire stock of Women’s, Misses’ and Children’s Winter Un- _derwear at specially reduced prices. ; Be Carin gah a Wo a $1.50 Union Suits—Christmas Week Sale $ 2.95 Blankets—Christmas Week Sale $1.75 Union Suits—Christmas Week Sale. $ 4.50 Blankets—Christmas Weel Special. po 00 eta ce oe Week oe $ 5.50 Blankets—Christmas Week Sale. . 25 Union Suits—Christmas Weel Sale $,,6.50. Blankets—Christmas Week Sale $2.50 Union Suits—Christmas Week Sale $7.50 Blanke(s—Christmas Week Sale. $2.75 Union Suits—Christmas Week Sale. 8 9.50 Blanket: Christmas Week Sale $3.00 Union Suits—Christmas Week Sale. 00 Blankets—Christmas Week Sale $3.25 Union Suits—Christmas Week Sale. Blankets—Christmas Week Sale. $4.00 Union Suits—Christmas Week Sale : Blankets—Christmas Week Sale $4.50 Union Suits—Christmas Week Sale Week Sale All Two-Piece Garments ', price. Blankets—Christmas confiscated, 2,500 gallons of mash de- stroyed together with nearly. 1,000 gallons of completed moonshine dur- ing a two-day raid by federal prohil tion agents at Glen Ullin and New Salem. One of the stills seized was equipped with a. 25 lead coil, the “one thing needed to insure the moonshiner that he is turning out deadly poison,” as one of the federal agents described it The other stills were, in some in- stances, elaborate affairs, and in nearly every instance capable of turning out fffteen gallons of moon- shine per day. Mathias Schafer of Glen Ulin, 75 year of age, was one of the men) caught in’ the dragnet. About two years ago he was arrested for boot- legging, blindpigging and makiug liquor following an investigation by State's Attorney L. H. Connolly. He pleaded guilty and was fined, but due to his age was not given a jail sen- tence. , Last August heywas caught in the bit non-rigid- type. A crew of three, pl-| jlization may end in terror.” The let- lot, radio operator and engineer, op-!ter is signed by. Francis J. Bacon, erates the craft, which has a cruising chairman of thé Field Committee radius of 1700 miles at the cr n&| which has been supervising Quaker speed of 46.miles per hour, and a ra-| relief work in Germany for the past | dius of) 1159 at high speed, 60 miles} py years. H "he airshi d with ig. Kr 2 he airships are cquipped with ra-) A ? dio telephone instruments, as well as/ | What is the Door Knob Joke? radio telegraph, the radius pe T ROT IW AiTA ATTA vere} LEANING CITY WRITE WARNING Cleaners and Dyers ISMARC THEATRE LTING THEATRE Direction Valleau Theatre Company RAO B Tonight and Tuesday Tonight and Tomorrow TONIGHT and TOMORROW “WHAT EVERY WOMAN KNOWS” with Conrad Nagel and Lois Wilson \ KANO SPAMS cre iecha tise Seem shionrs Topics of the Day (Chistance Binney sa | Su00M AND Pauline Starke | BOARD.” A romantic comedy ‘drama of love and old Ireland. Con- WEDNESDAY and THURSDAY Constance Talmadge in..... “MAMMA’S AFFAIR” Toonerville Comedy. Berlin, Dee. Jn a letter to President Harding, sent from} Berlin on the eve of the disarmament con-) ference, the Field Committee for Ger- many, of the Society of American and English friends, pop larly known as “Quakers.” ay n— “SILENT YEARS” COMING -“BEATING THE GAM -“PRISONERS OF LOV ETTING THE LEOPARD” TOM MOORE in BETTY COMPSON in MAJOR JACK ALLE from the novel Tet Et deta oa eee ad can natatedl ito possibility. Phone 70 stance Binney’s best WILL ROGERS in. “AN UNWILLING HERO” ne es auier indictment for mak-/e24 fF Tay rd ot as wee ine ; HAROLD LLOYD in. AMONG THOSE PRESENT” ons of war. : re. “M: ” : REY THE FOX ing liquor. ‘The raid yesterday land-| Pore ee ant momenti” sas the! BISMARCK picture. Mam’selle Jo. HARRY C a Matinee Daily 2:30. Evening 7:30 and 9, ed him for the third time. letter “is one peculiarly favorable for Of the stills seized, five were se- | international action and unless this is