The Seattle Star Newspaper, February 10, 1922, Page 2

ect of clearty taapayer, Beotion 202 of the revenue act of \ taining taxtble loss tion of property, ‘The aet provides that cost shall be the basis with Uree exceptions property which should be included for example, if a merchant bought in 1920 @ certain article, and it was not sold by him prior to December 31, 1920, but was included in his inv ¥ as of that date and sold in , the taxable gain or deduct: thle loss would be the difference be Real | tween the selling price and the) amount at which the article was carried in his inventory. The second exception te that tn the case of property acquired by gift after December 81, 1920, the ere, 2 shall be the same aa that wh it would have been in the Income Tax Facts Basis of Figuring Profits. Cost Usually—Three Exceptions. Inventory Value Sometimes. | When Property Was a Gift. ‘Thin te one of © series of Income tax storicn, based on the revense of informative value te taspayers whe ave required to file re neome, Redenver hae been made te point out briefly and as Retathie changes te tax legislation se they affert the average | | ate The Bar daily fer additional stories.-Kditor, in the taxpayer's inventory, the last) hands of the donor or last preeed- ing owner by whom it was aequired by mitt. For example, @ man in 1918 ao quired stock in @ corporation for $100 a share, and kept it until 1920, when it was worth $120 @ share, and then gave it to his son, who in January, 1921, gave it to his wife, the stock at that time being worth $150 a share, If subsequently the wife sold the stock for $200 a share, her taxable profit is not 950, but $100, the gain over the eost to the last preceding owner who did not "S BEAUTY RETURNS —_[=ssuits ors yet ly dear, you look like another| py gift on or before December 31, Whatever have you done to/ 1920, the basis for ascertaining gain You looked so worried and/or loss from a sale or other pent last week, and today you look/ sition thereof shall be the fair mar ket price or value of such property ae nae wepey-en aan Ve And at the time of acquisition, In the Rew coat and dress are 60 06 | case of property acquired by be- quest, devise or inheritance, the ft This cont and| fair market price or value of the blame for my fresh,| property at the time of ita sequisl- When you saw me last/tion is the basis for determining gain or loss. ‘with Tomato Sauce Subdivision C of section 202 of the new revenue act deals primarily with the exchange of property for Property. It is much more liberal than the act of 1918 in enumerating the classes of such exchanges which do not resylt in gain of loa to the taxpayer, In general, there la ne gain or lose when property (other than stockin-trade oF prop erty held primarily for sain) ia ex: changed for property of a like kind. ‘When an individual er @ partner ship transfers property to a cor poration and imusediately there mtter is in control of such corpora- Uon-—owning at least $0 per cent of the voting stock and at least $0 Per cent of the total number of =| shares of all other classes of stock of the corporation--no taxable gain OF no deductible lony resulta, | In the case of the sale of prop erty acquired prior to March 1, 1913, the basis for determining tax able gain or deductible lom is enst but the fair market price or value as of that date i# important. Gen erally to determine taxable gain, the March 1, 1913, value is used if more than cost, and to determine deductible foes, the March 1 value ls used if less than cost. Taxpay ers should read carefully section! 202 () of the act on this point. Following are concrete examples A bond bought in 1912 for $500 had on Marck 1, 1913, a vaine of $760 and was sold in 1921 for 61,000. The, taxable gain in $250, the excess of; the selling price over March 1 1 value. bend bought tm 1918 for $1,000 had a market value on March 1 1913, of $750 and in 1921 was sold te $600. The deductible loss is § the excess of the market value of March 1, 1913, ever the selling price, A bond purchased tn 1912 for $500 had a market value on March |1, 191%, of $1,000 and was sold in |1921 for §750. In this ease there |is no taxable gain and no deductible | 1oss, | A bond purchased fn 1912 for | $1,000, on March 1, 1915, had a mar- | ket value of $500 and in 1921 was |sold for $750, This transaction, on ja basis of cost would result in art actual loss of $250, but owing to the provisions of section 262 (h) (3) of the act UDI WEARING APPAREL Men & Women Boys & Girls on Easy Terms The name “Eastern” and our slogan, “Credit Gladly,” stand for a service which costs neither of us a single penny, but makes it possible for you to have at all times the clothing you require. By paying in small amounts, you ean arrange to be well dressed without stinting in other ways. Our store is no differ- ent from others, ex- cept, perhaps, in our strictness as to qual- ity. You can shop here as conveniently as élsewhere, and then open a credit ac- count. No red tape— Service. $@8 $5:0°... FREE EXAMINATION GLOBE OPTICAL CO. 1614 Wentiake Ave, Between Pike and Pine Sts, O-T, J rate extn Stops ie after eating, DISTRESS Abb ORUVG. STORES, INQNO. TWO ENTRANCES: 1332-34 Second Ave. 209 UNION ST, | | duet sueh lom from his gross in 1921 deals with the basis of ascer-| come because the market value on or dedyetible| March 1, 1913, was leas than sell! gain in tho sale of other dispost-) ing priea Neither does he have to report & main on the transnetion, CASS LAKE, Minn.—Bystnens ac The first is that tm the nse Of ltvities are suspended here during the funeral services of Gate Nah Gewn-Wenee, honored Chippewa In. inventory value shall be the DAM \gian who died at the age of 188 years, You remember Ben Franklin and his key. The lightning helped him invent electricity! A lucky strike for him! LUCKY / STRIKE, When we discovered the toasting process os ree ago, it wes @ Locky for us. Why? Because now smokers because It's Toasted” We— whieh seals in the delisove Burley haves And also because it’s Pe asi ON = would be a great boon. It’s the vay oan Seott’s Emulsion to build strength. Grecentee) a. INDIGESTION S.S.S. Fills Out Hollow Cheeks, Thin | Limbs! ‘Men and women,—whether you wild gver build yourself up to your sormal, featcrignt yreignt do ‘on the num- ‘of blood calls tn your blood. ll there is to it. It's @ sci i your bi -eoN fe rr ry Fede veut our tach fro “pink” in your cheeka. hol from the ‘The medicinal | a at atl tores, in t ; at al stores, in two sizes. (he laruee sine Ja the mare —Advertinement 1221-Third Ave “COR UNIVERSITY THE SEATT _ For the third time in 18 months, Mrs. Sid Hatfield of Matewan, W. Va., has mar- ried. Her first husband waa C. C. Testerman, mayor of Matewan, He waa killed in 1020 ina gun battle betweet townsfolk and imported de- tectives. Her second husband waa Sid Hatfield, former Matewan police chief, indict- ed in connection with a gun fight and shot and killed in a battle as he waa mounting the courthouse steps on the way to stand trial. Now the £5- year-old widow has married S H. Perry, sergeant in the state constabulary, Fer Colds, Grip or tnflurnse and as 6 Pre Lasative EROMO QUIN t. The (reulne bear re Bi & iY Greve, (Re ou BRO- Advertisement. MO.) 306 Complete Relief without ase ef drugs and without resorting te oper auonas. MANY SEATTLE FO PLE are gaining complete relief trem suffering troty Rheumatism Goiter Stomach Ulcers Neuritis Pyorrhea Female Troubles Eczema Piles and other ailments due to inflammation or poison in the bedy, by Moorite Mineral Treatments eral produced by voleanie action ef the earth, ap- plied externally and in ternally to reduce inflam- mation and eradicate poi- son. It is @ natural rem- edy and it works, Tt has proved so re liable in ite results timt we give written guarantec to return your money if you are not completely re- lieved. 1¢ wi cost you nothing to learn whether er not we can relieve your suffering. CONSULTATION FREE Moorite Mineral Institute 912 Third Ave. Elliott 4549 | Yeast Vitamine Teblets should LE STAN USE OF CEMENT | IN ROADS URGED Campaign Waged by Asso- Ciation of Manufacturers “Une Conereto for Permanence” te! and in de of concrete | slaned Lo promote the v in general, without exploiting |particular brand of the product The campaign in being weed effort to educa jfact that the « any haa ever been d pel, | In Warhimton, an well as in mont | of the other states of the union, the’ superiority of concrete has long been Acoepted ax ~ matter of course by state highway officials It ls pointed out by Lester T. Sun deriand, president of the association, that the organization's work is en tirely constructive, “Thin agmociation,” he auld in a re cent statement, “recognizes ita re apensibility to the public, as in evi donoed by the eonstant effort it pute jforth to prevent abuse or minune of joement, correlated with its endeavors | |to advance its proper use. Thru the | research work of its structural ma: | terials reseqrch laboratory, which I | maintained jointly and in coopera tien with the Lewts t cage, new knowled«e tained aa to how ce be used, as well as how it should be jused. Our most eapable and consct. | jentious architects, engineers and joontractors rely increasingly uporr thin aaneeiation for ‘eo * taote land thruout these pr ‘best interests of pri |municipaiities and tox jally are served and protected.” | ‘ HOME TOWN | H. Bh, Pulte hae resigned aa secre. | tary of the city park board of Olympia. | eee | John Hitstrom, a Vancouver high | school #tudent, has Just received an Appointment to Annapolla | eee Outside work has been resumed on the Public Service howpital at Fort | Walla Wallin and if the weather re | mains open will be rushed to comple. | tion. ‘, eee | Apttation for the removal of the | headquarters of the Western Pine Manufacturer’ association from Portiand to Spokane, where they wore located until four years ago, ts disrupting the organteation, A. W. Cooper, seoretary-manager of the as poclation, declares, | eee | Alex Polson and Frank Lamb, beth lof Hoquiam, called on Maj. Gen. Beach, chief of engineers of the army, a few days age regarding the atlocation of a seagoing dredge for ween. An effort ig betng made by the Grays Ha Png Be FUNERAL SERVICES for Thomas | joint Prine Pas Gon Bagi > | Twenty-five membera of the A determined fight is being waged |N. Shanks were held Friday at the|didate whe can secure the united Puyallup Business and Profersional |'2_ nave the Pierce county commis: |Bonney-Watson Undertaking orm | support of the West Side and also Women's club are anticipating with |“enere sravel ene and enefourth /pany, draw heavily in other city precincts, unusual interest a weekcnd house party, planned for February 18 and |f }19, at the ¥. W. C. A. summer camp at Indian Point. eee | Alex Polson of Hoquiam eated on Chief Justice Taft thin week to pay his respects, Polwon has long been a friend of Taft. | eee Mayor & f. Gray ts completing Increases the action of the intestines Handreds of men and wo- men have already found freedom from laxatives by eating Fleischmann's fresh yeast. Dactors are now agreed thet proper elimination of waste matter should be brought ebout by fond. One doctor comes right out and @ates plainly that the indiscrim- inate une of cathartics is one of the eauses of constipation. Physicians all over the country are recommending Fleiachmann’s fresh yeast because it is a fresh food, rich in those elements which keep the intestines healthy. Inone caries of tented canes, normal fanc- thona were restored in from 3 days to 5 weeks Tryit ont for: dayby adding 2or 3 cakes of Fleisch mann's Yeast to your everyday diet. Keep it up and see how nor- mally andregulerly yourintestines act. Be sure it's Fleischmann's Yeast--the familar tin-foil pack~ age with the yellow label. Place « standing order with your grocer. FREE | $1.00 PACKAGE OF GENUINE | YEAST VITAMINE TABLETS from your druggist today, | | a \(F YOU ARE THIN AND EMACI- ATED AND WISH SOMETHING | TO HELP YOU PUT ON FLESH AND INCREASE YOUR WEIGHT, Niteated tron, With: ronnection with organ! plans to call a special meeting of all | committees from Puyallup’s civie or | tain ganizations recently appointed to ald | the elty council in ita efforta to ob | ain municipal poner plant Frank B. Lawson, « retired quar lormaster sergeant of ea eg has been gubpoenaed to be | fore the senate committee as a wit county work, will neae in the investigation inte the al-/ Puyallup Monday, joged killing of Americans in France. eee FRIDAY, RUARY 10, 1922. The Really Big Bargains OVERCOATS are to be found in our epoch-making clearance sale. It is the season's greatest money-saving opportunity for you. Every coat, in an exceptionally high grade stock, is in- cluded. The prices, in many instances, mean a big money loss to us. But they must go—so we've put the overcoats in 8 groups, with only 3 prices: ‘472 Up to $45,00 Formerly Priced Up to $85.00 ‘372 Formerly Priced Up to $65.00 Our assortment contains plenty of |: sizes, Here is a chance to buy a splendid coat, not only for the pres- ent season, but for next falt and winter as well. Special Notice: Our Sale Offering 20% OFF ON SUITS Will End on Saturday, February 18 This leaves you just a week in which to take advan- tage of bargains that will save ee von ae $50 om match your o. former prices. a ees Ha ide coat and vest, are included in this reduction. SHANER & WOLFF 916 Second Avenue {mflon of road leading off road between Elbe and connecting with a the Nisqually to serve the Pleasant Valley section, eee A. % Roberts of New Tork city, nan Sey Clearance of Odd Lots After Inventory Get in on this big clean-up sale after Inventory. There are odd lots and broken lines in every department that will interest you. Every odd garment has been marked at a ridiculously low price for quick clearance; and if you don’t buy, it won’t be because of price. Great specials continue to be offered in our Ladies’ Ready-to-Wear department, which we are closing out. Coats, Suits, Millinery, etc., all go at surprisingly low prices.” Buy here and save money. Boys’ Long Pants Suits $25.00 Values Now $10.00 We have only 18 of these Long Pants Suits left, so they must go for $10.00. They are in good styles; neat mixtures of all-wool tweeds and cassimeres. Ages 10, 12, 14, 16. While They Last—$10,00 Boys’ Knee Pants Suits $8 and $10 Values Now $3.98 There are about 70 of these suits left, with a good assortment of pat- terns; fancy tweeds and cassimeres. Will make dandy school suits. Nearly all sizes from 8 to 16, While They Last-—$3.98 Have you bought your children some | of these School Hose, Yet? They come in black; cotton ribbed. Sizes 8 and 814 only, ve gh pair— A Big Special of Boys’ Waists that reg- | ile hey Last—10¢ ularly sell for 65c—Sizes 7 to 11 years; | ,, About 40 Boys’ Cotton Union Suits left. hamt a a | Medium weight; fleeced cotton; gray. ames Mahi tee anaes Sizes 10, 12, 14, 16. Former price was $1, While They Last—5o¢ 16 Gray Wool Undershirts for Men. | Do you need a pair of real, serviceable aa ee yee oar A - geod | Fiber Silk Stockings? We are showing . ade; sizes 44, 5 only, i . While They Last-—O8¢ | them in black and brown at a cut price. | Sizes 814 to 1014; $1.00 values— We have about 3 dozen Men's Heavy While They Last—75¢ Cotton Sweaters, gray color; roll collar, Buy your child a pair of strong, brown coat style. Sizes 36 to 46. These sold | elk High Cut Shoes, They're at a bargain formerly for $3.50— price and they wear well, Heavy sole and While They Last—$1.59 heel. Sizes 914 to 11— The best Men’s Necktie Value in the $4.00 Values for $2,50. efty. A clearance of a broken lot of 50 Only 8 pairs of Boys’ White Horsehide ties, neat patterns; open ends— Shoes left; uniined; full quarter and While They Last—25¢ leather sole. Sizes 6 to 8— A clean-up of a small size of Men’s All- While They Last—$1.98 Not very many of these Ladies’ Gowns Wool Drawers—finest quality; well made; good weight. Size 30. $3.00 values— left at 98c, Better Murry! They are of good flannelette; rm ¥ “4 While They Last—$1.25 ~ vg ag oe Men’s Sox sleeves, While They Last—98¢ 8c Pair A clearance of Men's Black Cotton Sox; hemmed top; for every day wear, A bargain at this price! About 25 Men's Cloth Hats with stitched brim and crown; all-wool fabrics. Sizes 6%, 6%, 7, 7%. Formerly sold for $2.60, While They Last—O8¢ “THE STORE THAT, SAVES VOU MONEY '} SECOND AVENUE AT JAMES STREET