davidaulloa/AmericanStories huggingface dataset:
The Filer record. (Filer, Idaho) 1919-1930, 1922-05-11


The eighth grades are being exam
ined in the remaining subjects Of the
years work at the high school this
week The pupils OF the two seventh
grades are taking the state tests in
geography and physiology. Pupils
from the surrounding districts are
also taking the tests
All grades In the building we're
excused Wednesday afternoon that
teachers and pupils might attend the
funeral OF Emil Johnson. who has
been a student in the nth grade up
20 the time OF his removal to the hos
pital last week. where he died.
The school display tomorrow will
excuse all class work for the day
Both buildings viii be prepared 10
entertain visitors all the afternoon.
A short program will be given ia the
old building al 2:s5. Al four o'clock
there will be a contest between the
girls OF the high school and the
grades in athletics The events will
be 5o-yard dash. l0e-yard dash
relay. shot-pnt. baseball throw, high
jump. and the running broad jump.
Picnicparties after the last recess
are much in style this week Next
week will close the present term.
Final examinations and filing OF the
grades and reports will occupy the
time.
The eighth grade Is planning
"trip 20 Artesian springs next Tuesday
The board OF education will provide
the transportation. Thursday night
OF next week the eighth grade play
will be put on. Money made over
expenses viii be used TO help pay for
the use OF the theatre for commnce-
ment night. May 20.
Miss Beryl Downs. a teacher In
the hurley schools. was present at
the board meeting Monday evening
and discussed with the board the va
cancs in the department OF music
Miss Downs was engaged for the com
ing year and will have charge OF
music in all grades and assume the
duties OF regular grade teacher In
the sixth grade half time Miss Cora
Thompson. teacher OF the Kimberly
schools. was hired for the position as
second grade teacher for next year
All positions sa- the grades
are now filled. Only two new teach
ers are hired aud these come very
highly recommended from the
schools engaging them this past year
The combining OF the two eighth
grades for the next year will excuse
the necessity OF one fun time teach
~ aud the proposal TO close the cafe
terra next year will make Il possible
TO dispense with one teacher for
half day. This plan Will omit from
the present faculty one fuli timeteach
er. and half time teacher for the
coming year.
The Filer record. (Filer, Idaho) 1919-1930, 1922-05-11

Mountain or local time. ore hour
later.
The Filer record. (Filer, Idaho) 1919-1930, 1922-05-11

aud is printed on good quality heavy
white paper. The cartoons and
drawings In the annual are worthy
Of special mention They are the
work ~ Thurston Dsnbs
Thru the courtesy % the high
school The Record Is fhfs week per
mItted 10 reproduce several photo
engrayings from Memories
Evening star., 1922-03-10
BY PHIL 8. HANNA.
n;cpotcb In The Star

Special Dispatch to The Star.
DETROIT, March 10.-The auto
mobile industry is enjoying a sus-
tanned rush of new business. Sales
totals of nearly all the Detroit motor
companies are increasing steadily.
TIE opinion is expressed in many
quarters that price cutting has ceased
until fundamental cost factors work
to a lower level. Bankers say that
prices of many cars. cut in anticfpa-
tion of quantity production rather
than because of reduced labor and
material costs, are likely to be
increased. Never in the history OF
automobile manufacture has such at
tention been given by manufacturers
to quality production.
The stove manufacturing business.
one of Detroit's chief industries. Is
receiving tremendous impetus from
demand in eastern and Pacific coast
territories. Gas companies which
have not stocked up on stoves for
two or three years are sending IN
ordars for carload lots. Gas stove
departments in several plants are
working extra shifts. The furnace
business. while not keeping pace, Is
following a similar trend.
Business in mems clothing has been
gratifying. One large dealer Is
carrying over only LAG winter over
coats. compared with 532 year ago
Mems suits show a similar cleaning
up of shelves.
Evening star., 1922-03-10
DIVIDENDS.

Stock OF
Record. Payable.
Amalgamated Oil Co, q. 75c. Mar. 90 Apr. IL
American Window Glass Ma
chine Co. q. $1.50 Mar. II Apr. ]
American Window GLASS Ma
chine Co, q. pf. SITS. -. Mar. II Apr. L
Associated Oil Co. q, pf
$l5o ................ Mar. 70 apr 20
California Petroleum Go, a..
pr, N.IJ mar. u apr. 1
Farr Alpaca Co. q. 50. ..... Mar. 10 Mar. 81
General American Tank Car
Co. 4. pf. s1.75. -: Mar. IS Apr.
Guantanamo Sugar Co. 81 90
on full paid pf subscription
Hercules Powder Co. q. 81: Mar: Is Apr: Apr: %
H"mcstake Mining Co. NO..
Iniefnutionai Motor Truck sur " var :
ks,ssr &c q wstii Co. d So Mar Mar 3: q APR APR
$. $ Kre~Ee Go. .. pf s1.75; Mar. Il Apr.
Manhattan Electrical Supply
Manhattan I; shirt Co. q. pf ''' Np''
Montreal renmans. Ltd, a.,
MONTREAL mt nj rcnmans. Ltd. a. 10y :
renna r Power Light Co. a..
E. rsnnrs Co, q. pr Maf Mar. % . Mnr. Mnr 81
rii,smnch: :Bess-ms. / Lake
Erie Il Il. s-a. 81 30. Mar. u Apr. I
Pittsburgh Plate Glass Co.
ri9x1:rss + - Plate Glass Co Mar " apr,
spec. s. .........:. Mar 10 Apr. /
Sterling Oil Development Go.
Washington. Ralttim"re & An. ~ " -'''
nnpnlis Il Il. q. 81. Mar IS Apr. l
Washington. Raltim"re 4 .Aa-
napolis Il Il. q. pf. s1.30. Mar IS Apr.
West Coast Oil Go. a. $50. Mar 20 Apr. 5
UIitcl Shoe Machinery Co.,
rni,cs. nj .'I s',"o Machinery sco. ~ A''' :
q, pf. 3IAc. .........:. Mar II Apr. ;
Victor Talking Machine Co,
Il, pf. S1.71. Mar. 81 Apr. IL
Victor Talking Machine Co. =
a, $40 ................. Mar. 81 Apr. 10
Bell Telephone Of Canada, :,
Burroughs Adding Machine,
Co. q, $o............ Mar. 20 Mar. 81
Bucyr,,s Go, q, pf, 81 =. Mar. - Apr.
Central States Elec Corp. a.,
Chicago fr; Mll & Lumber Co. :
a. pf Sl.13............. Mar. % Apr.
Hendce Mfg Co. q. pf. SIT Mar. 20 Apr.
Illinois Traction Co. q. pf.
$50 .................. ). Mar. Ii Apr. I
LAWYERS. Title & Trust Co.,
q, S1.50 ..................M Mar II Apr.
Mnnila Electric Corp. a..
S1.I0 Mar " apr.
Mnn ST. Paul & Sault Ste
Mn,ie Il leased lines.
Parke. Davis & Co. o. 81. Mar. 81 Mar. 81
Safety Car Heating & Light
ing Co. q. Sl'o. Mar l., Apr.
Tn Gas I'm Co. a. pf. s7Ec. May 81 June Is
Tn Gas lamp O.. Il. 50r. Mar. 81. Apr. Il
Evening star., 1922-03-10

ARTICLE XIII.
We saw in the preceding article
that the comm issioner of internal rev.
enue might require the use of in
ventories in order to determine the
taxpayers net income, and that such
inventories were to be taken by
actual count, and the units thereof
consistently priced at cost of market.
whichever was lower. Until few
years ago all inventory items were
to be taken at cost. The change to
a basis Of cost or market. whichever
is lower" is a rather recent innova-
ton, and indicates the influence Of
accounting on tax laws and tax ad-
ministration. Incidentally. section 212
CD provides that the taxpayers net
income shall be computed in
accordance with the method of ac-
counting regularly employed in keep
ing the books of such taxpayer" un-
less the method employed by the tax
payer does not clearly reflect his net
income.
The following Illustration will make
clear the pricing of inventory items
at cost or market. whichever is lower:
/. Cost $3.50 $3.50 $3.50 SOTO
. Market -. $40 4.49 2.90 1910
3 Taken into
at $40 '4.s0 go 1890
The total cost. as shown by line l.,
Evening star., 1922-03-10
BANKERS PRAISE
VICTORY NOTE PLAN
Treasury and Investors Get
Mutual Help-Capital
Traction Report.

Bankers consider the offer Of the
Secretary of the Treasury to exchange
victory 4As. maturing May 90. 1923.
for new notes. bearing the same rate
of interest, and maturing March Is,
49, = mutu."" advantageous to the
Treasury and investors.
The Treasury is relieved of some
of the burden incident to refunding
"A large issue, while Investors are
given opportunity to e::tend their in
vestment ut the same rate of interest
for four years. the new notes being
dated March Is. 1922
These notes are obtainable only in
exchange for victory 4As. In pre-
limNary trading, on IL whcn-issueti
basis. they We're quoted at 1OOas bid,
to yield about $50 per cent.
Capital Traction Jnnnar~ Report.
The Capital Traction Railway Com
panS was operated at u net income
OF S1O4. 15o.39 for the month Of January.
according to statement of earnings
filed with the Public Utilities, Com
mission yesterday.
This figure compares with $l16,-
aSS.S9 for the corresponding period
one year ago. and with S102,7O7.SO for
the previous month of December. 1921.
Total revenues derived from trans
portation during the month amounted
to s419.909.35. with revenue from opera
tons other than transportation amount
ing to S2.365.19. making a total railway
operating revenue of 1922 27454. Ta.cs
assignable to railway operations reAuc-
ed this aDSunt by sSS,253.6S to which
was added S5756? for Incorporating
income. Deductions from this amount
tota1ed S25.35S.33 for interest on funded
debt.
Public Utilities Demand.
Bond dealers called attention to the
ract that the gre4teSt restraeut de-
Evening star., 1922-03-10

is 5000. The totaf market value. as
shown by line 2. is s10.40. The total
inventory. as shown by line 3. is
item is consistently priced-that is.
the lower of cost or market is ex-
tended into the inventory line. If
cost and market coincide, there is no
necessity for choice.
Q. 6S (Article XIV in this series)
related to the subject of inventories
1t was as follows:
q. (6s)-December 81. 1920, in
ventory was figured on "E" basis (cost
cember 81. 1921. inventory will be fig-
ured on the same basis.
AN article purchased in 1920 for
$1S was taken in December 81. 1920.
inventory at $40: $40 was the market
value on that date December 81.
December 81. 1921. and the parket
value then December, 81. 192D was
$12. Is the cost $1S or $40?
Il believe this article should be
taken in inventory December 81,
192D at $40. Am l correct?"
My answer was that the item should
be inventoried at $i2
a number of correspondents have
written me to question the correctness
of my reply. They are of the opinion
tnat the merchandise should be in
ventoried at $40 and think that in
cases similar to the given one cost
or market. whichever is lower" means
after the initial determination. mar
ket value at the beginning of the
year" or market value at the end of
the year, whichever is lower" Posi-
bly, they believe that they find justi-
f1cation for their attitude in subdi-
vision (a) % of section 202, which
holds that as basis for determining
gain or loss "in the case of
property which should be included in
the inventory the basis shall be the
last inventory value thereof"
In the absence of the commission
er's regulations. which are not ex-
pected until March. Il hold to the view
1 expressed. I believe still that in the
given case cost or market. whichever
is lower" means either cost ($1S) or
the market value.
This discussion will be concluded
in the next article.
QUESTIONS AND ANSWERS.
@. (156)-(a) I took out insur-
ance on my pleasure auto in a mu-
tual company and paid one years
premium. At the end of six months
the company became insolvent I
put in a claim for the six months
0ast) unearned premium. I am Ii
able to an assessment in an amount
Evening star., 1922-03-10
Cut.Price Bargains Clear
Shelves in Atlanta Section
BY RALPH SMITH,

Special Dispatch TO The Star.
ATLANTA, March 10.-Retail mer-
chants here and throughout this sec
ton have cleared their shelves or
winter garments, largely through cut
price sales, and are confdentiy eA-
pecting the best demand for spring
apparel they have experienced LOT
years. Good sized stocks have peen
purchased and already the Easter
season is having it's effect on the con-
sumers who are in the market lot
spring goods.
The general feeling is one OF con-
fldence in the future. In reality. basic
economic conditions have shown d
marked Improvement since the hrst OF
the year Money is easier and the
last of the old debts are being liqui-
dated
Approximately s3.0o0.oOo worth of
building now in course of construc-
ton has given employment to nun
dreds and work on street improve
ments, financed by recent BOND issue
of over $4,000, 900 which are scheduiea
to be started April l. are expected 70
take care Of all who are Wiling 70
work.
Final plans for the victory drive
of the Georgia Cotton Growers 20
oneratiye Association. which VIII De
conducted next week. to sign up tne
necessary 100000 bales to MAKE
binding the selling contract, Were
peri ected today. To date 10000 nales
have been signed up.
Evening star., 1922-03-10
RAIL CHaNGFs HANDS.
Van Sweeringen Co. Gets Control
Of Cloverleaf Road.

CLEVELAND. March 1O-van Swear.
1ng"n Company, large Cleveland
realty operators. has acquired con-
troll of the Toledo, ST. Louis and
Western tCloverleaD railroad, O. r.
Van Sweeringen. vice President, an
nounced late yesterday. Tie Van
Sweerlnsens have been prominently
ldentihed with the financial admins
tratlon of the Nickel Plate railroad.
ihe deal has been pending thirty
days. Mr.. Van Sweeringen said and
reports had the Lake Erie and West
ern railroad linked up in. the negotia-
tions. This line was not involved, MIR.
Van Sweeringen added. N
The Cioverleaf as 449.71 miles of
t'ackaae. Its main line extending
from Toledo to East ST. Louis, III,
The company has $10,OOO.OOO COM
mon and Il Z same amount of 4 per
cent cumulative preferred stock out
standing, with shares at 500 par
Evening star., 1922-03-10

not exceeding twice the sum / paid
for the years policy.
(b) 1 damaged my car in an
amount less than the minimum COW
cred in the policy (this was before
the company became insolyen) and
SO had to bear the loss myself.
Can l make any deduction on ac-
count OF either of the above?
A. (a) No.
(b) res. Il the damage was caused
by casualty (section 214-A-6).
Q. G5O-WilI you please explain
the amount Of interest exempt from,
"Sur-tax" in the case of an individual
who holds the following liberty
bonds? The explanation in the regu-
lations is rather complicated.
$4,000 first liberty converted An
per cent, issue May 9. 1918.
$4,000 second liberty loan con-
verted Az per cent. 1s27-1s42.
100000 third liberty loan Az per
cent of 1928.
$4,000 % fourth liberty loan ~ per
s20,0 ~. per cent victory convert
ible gold notes of 1922-1923.
A. All except victory ~. per cent
notes.
Q. d5s)-ta) If a man in business
lost money in 1921 and wishes to es-
tablish this loss 50 as to deduct It
from any profits he may make in 1922
by fling a tax return for 1921, must
he file return though he has no tax
able income to report?
(b) Is there any special form on
which<to make up this return to fed
eral government?
(c) Does he report also non taxable
income on report to federal govern
ment?
A. (a) If his gross income is at least
$1,000 he must file report even
though he has no taxable income. II
his gross income does not equal $4,000
he need file no report. 1t is advisable.
however, to file a return showing
amount of net loss.
OBJ No announcement has yet been
made by commissioner regarding this
matter. 1t is likely that a special
form of return will eventually be pro-
vided
(c) Secure copy of necessary form
and supply all information required
q. nso)-I am single and during
1921 earned s1,4o0. Last year 1920
I claimed exemption, as had my
mother to support. ;. Up to April 80.
1924, she was still dependent on me.
Am / entitled to an income Of $4,000
free from tax because of this, or am
! classed in the $1,000 income class
Twenty dollars. the tax on the $500
excess. is not much to most people.
However. it is quite bill to me-
). A. $1,000 exemption.
Q.-Kindly answer the following
through your income tax section of
The Star:
Can husband and wife on joint re-
turn claim exemption on account of
supporting the wife's mother? Total
income of both. $3.50.
A.-No. you are allowed no exemp-
ton in the case Of supporting the
wife's mother, but are allowed the
regular $2.500 exemption on joint re-
turn of husband and wife.
Evening star., 1922-03-10
BALTIMORE TOBACCO.

BALTIMORE, March 10.-Receipts for
past week were 50 hogsheads. besides
Sc hogsheads reinspection. Sales in
creased to 290 hogsheads, the bulk of
which were low grades.
Demand continues active for all good
tobacco.
Prices per 100 pounds-Inferior and
frosted, 300a5.00; sound common, 6.00a
1000: good common. IL 00a17.00; medium,
IS. .00a30.0 90: good to fine red, 31.00a45. 90:
fancy, 4S00a50. 90; seconds. common TO
medium, 5.00ai7.00: seconds, good to
fine. Is. O0a3O. 90: bay tobacco, f1re-cured.
il. .00a55.00: upper country. air-cured.
nominal; ground leaves, new, 2.00a23.0o.
Stock in Observation-Disclosures 15,-
GAS: Ohio. 1876; total. 1858.
Sales-Maryland, 2.4O6; Ohio, 26i;
total. 2.670.
Ground leaves to date. 642 hogsheads
Evening star., 1922-03-10
WOOL TONE Is BETTER.

BOSTON, March 1O.-The CONNER
cial Bulletin tomorrow will say:
There has been no large volume of
business put through in the eastern
markets this week, but there has
been rather more looking around on
the part of certain mills. and alto
gether there is little better tone
to the market. In the west there
appears to have been no contracting
of moment and but little done in the
way of consignment of the new clip.
With the tariff outlook so uncertain
buyers naturally are reluctant to
commit themselves very far on the
present level of prices. Some little
betterment Is reported in the New
York goods market, mostly on me
dium grade sport clothes"
Evening star., 1922-03-10

mand at present is for issues of public
utility companies and foreign govern
ment loans. and point to this as an in
dica ton of the advent of normal times.
Public utilities. they say. are always
the first to feel disturbed conditions
in higher wages. increased Cost of
materials and fixity of gross income
With dawn of period of lower COM
modify prices and normal wages come
increased gross, falling operating ex-
penses'and increased net.
This. It is claimed. Is the condition
now. and numerous favorable rate de-
ciSions have been given the graph line
a sharper upward angle
In the case Of forei4n bond demand.
feeling of international confidence is
indicated. which gives evidence. nri-
ditiOns
Evening star., 1922-03-10
NEW YORK RESERVE BANK.

NEW YORK, March 10.-The state
ment of condition of the federal re-
serve bank of New York at the close
of business March s shows:
Total gold reserves: si:oso,449,526;
counted. secured by government war
obligations, for members, s41,27S,973:
ali other, for members. $27. .704:
bills bought in open market. s34.17s.-
644: total bills on hand, s102.609,322:
total earning assets. s277,017.572; un-
collected items. $9l.079.247; due to
members reserve account. s6SI. .233.-
179; total deposits, s69S,073.657; fed
erai reserve notes in actual circuIa-
ton, $62S.279,S11; ratio of total re-
serves to deposit and federal reserve
note liabilities combined, 84.9 per cent.
cent.
Evening star., 1922-03-10
LONDON BANK STATEMENT.

LONDON, March 1Ge.-The weekly
statement of the Bank of England shows
the following changes:
Total reserve. increased 1861. 900: cir
cula lion. decreased fS59.OO0; bullion, in
creased f1.65S: o,her securities, de-
creased fS1O.o0O. other deposits, in
creased fi.605.o00: public deposits, de-
creased f1.9S2,oOO: notes. reS1rve, in
reased fSi0 0DN; government securities,
incrcas ID f2,564, 900. -
The proportion of the banks reserve
to liability this week is 1906 per cent;
last week it was 17.7S per cent.
Rat. IF discount. Az, ner cent
Evening star., 1922-03-10
OIL.

MONROE, La, March 10 (SpeciaD
The first plant of the Standard Oil
Company of Louisiana. which viii
manufacture gasoline from the wet
gas" produced in the Eldorado field,
will be placed in operation in the
next few days at the Hinton lease
in Union county, Arkansas. A second
plant on the Terry-Summerfield lease
will be completed in six to eight
weeks.
Evening star., 1922-03-10
COttOnA.

NEW YORK. March 10 (Special)-
There has been movement here
among buyers of cotton goods to in
duce the mills and converters to ship
certain goods Ion memorandum to
help stimulate demand. This has
found little response from manu-
facturers.
Evening star., 1922-03-10
PARIS B0URsE IRREGULAR.

PARIS, March 10.-Prices moved ir-
regularly on the bourse today. Three
per, cent rentes. SIS francs 81 centimes;
Exchange on London, 4S francs &c
centimes Five per cent loan. 1S
francs 95 centimes The dollar was
quoted at II francs 162 centimes.
Evening star., 1922-03-10
STEEL TONNAGE DROPS.
Monthly Report Shows Decrease
From January's Statement.

NEW YORK, March 10.-The month
ly tonnage report of the United States
Steel Corporation. made public today
showed 4,141,069 tons of untitled or
ders on hand February 2S. This is :;
decrease from January's untitled or
ders. which totaled 4.241,67S.
Evening star., 1922-03-10
Building Materials.

PITTSBURGH, March 10 (Speciap.
bookings of building material Or
ders in the last thirty days are esl-
mated to have been twice as large as
in the corresponding period last year
Evening star., 1922-03-10
Iron und Steel,

YOUNGSTOWN, Ohio. March 10
eciaD.-Trumbull, Liberty, New
ton and A. NJ. Buyers steel mills in
this district are all running at 100
per cent capacity this week. The
Carnegie Steel Company plants here
and at Mcdonald also are working
full crews.
LONDON, March 10 tSpecial).-
Practically all the limited output Of
pig iron in Great Britain at present
is going into consumption. Prices
are firm and inclined to advance in
reflection of the increased cost of
coke. which has been in stroAg de-
mand on the continent
Evening star., 1922-03-10
Rect SUGAR PRICE UP.

DENVER. Col, March 10.-The
wholesale price of beet sugar was ad-
vanced 10 cents a bag by the beet su-
gar manufacturers of Denver. The
new prices is $50 a bag. seaboard
basis.
Evening star., 1922-03-10
nfCheA.

TRENTON. March 10 (SpeciaD.-lt
is expected the sale of assets of Rob
ert H. IngerSoll & Bros. to the
Waterbury Clock Company will result
shortly in renewed activity at the
1ngersoll watch factory here, which
has a capacity of 5000 watches 4
week.
Evening star., 1922-03-10
('0rDetH,

PHILADELPHIA. March 10 (Spe-
ciaD.-High- grade rugs as well as
cheaper grades of floor coverings are
in good demand, according to carpet
manufacturers here.
Evening star., 1922-03-10
Copper.

LONDON. March 10 Especially De
mand for copper in the Cuited King
dom has not broadened to any appre-
ciable extent recently and CONT
mental buying also is restricted.