davidaulloa/AmericanStories huggingface dataset:
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1922-04-07
FORT PECK Land
READY TO LEASE
All Applications Should Be in Early
Rate Is Cents Per Acre Payable
Semi Annually.
Fort Peck Agency
Poplar, Montana

Poplar, Montana
March 49, 1922.
This Office will be prepared to re-
ceive in writing applications by pros
pective lessees for sheep and cattle,
also all other stock on the Fort Peck
Indian Reservation for a term ex,
ending to three years beginning April
18th, 1922.
Applicants desiring land on this
reservation should submit prior to
this date full descriptions of all land
desired. These descriptions will then
be checked in this office and leases
prepred for all allotted and tribal land
within this area. I would ask fer
your protection and as convenience
for this office that these applications
I he made as soon as practicable as In
the, event of conflicting applications
it will be necessary for us to make
adjustments.
Homesteaders and people living on
the reservation will be protected as
far as possible as against outside
parties leasing land which they re-
ouire, but in order to have applica-
tions considered prospective lessees
must apply for sufficient land to car
/ ry the water contained in their ap-
| plication.
Applicant will not be permitted to
lease land along water courses with
out taking sufficient adjacent land
and to prevent confusion and rejec-
ton | would suggest that all appli-
cants treat this matter perfectly fair
both as to their neighbors, people
living on the reservation and the In
dian owners of the land.
The rate for leasing has been ap-
proved by the Commissioner of IN
dian Alairs and is fifteen cents pei
acre payable semi-annually for ali
tribal and allotted land or in other
words such land as is under the jur-
isdiction of the Government.
\ Lessees will be permitted under
these leases to place improvements
such as fence or other necessary i'm
provements on the land and remove
same at the expiration of lease, or if
theysso desire may herd within the
boundaries o. their lease.
The arrangement of these leases
has been arrived at. after careful
consideration by the officials of this
Agency Inspectors, and the Depart
ment in Washington and it is felt IN
view of prices received in other res
ervations for similar land perfectly
fair.
trust that we may expect a full
cooperation of all lessees in this
matter as it will be found that in this
system many of the complaints Of
Indians will be removed and lassees
will be assured certain designated
areas for periods up to three years
and would be in this way able to pro-
tect. their grass and water from tres
pass. -~
Very truly yours,
JAMES B. HITCH,
Superintendent
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1922-04-07
Let Others Helm

Farmers are kidded so much about
being the backbone of the country,
that the assumption that the farmers
can carry the entire country has a
great deal more attention than such
foolishness deserves. The Nonpartisan
League plan for reviving the Grain
Corporation to bring back some SEM
blance of prosperity to the Northwest
and insure lis Of wheat supply, offers
a good Illustration, of the right as op-
posed to the wrong way.
The whole Northwest depends On
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1922-04-07
SOME KIND OF AN ANIMAL

ats funny, isn't it that everybody
in our family's SEINE kind of an ami
NAL ?"
"Some kind of an animal, Bobby!
What do you mean?"
why, mothers dear, you know u
Eyes, certainly"
And my baby sister is mothers
little lamb, and I'm the kid, and dads
the goat.
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1922-04-07

Word "Monsy" Comes r'S 1'r,d trpa
rhs word money" is $. ds tss fpop'p
monera. a name given by Inc edp'a
to their silver pieces, DD ecaasG 80
In a building on the Cap' ~ Japts'
Moneca. The officers - ,rtri nSDF
the mint were called truman Sasap to''i'
tales. The Romans first 0s'''
silver about 2e9 B, G.
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1922-04-07

U. S. A. to Elmer Nicktrson, pat
ent, w IL, 2O-36-54.
New-York tribune., 1922-01-22

between the two countries. For OBJ
vious reasons this is of more political
Importance than economic.
AS mentioned in one of the previous
letters, about the end of November, a
consortium was formed among the
principal banks to aid the Banca Itali-
ana di Sconto, pledged for 100000, 900
lire with the Ansaldo metal industry.
During December the situation grew
worse, owing to the difficulty in set
thing financially the Ansaldo question.
The managing directors, the Perrone
Brothers, were obliged to resign, and
the difficult situation of the Banca
Sconto. coincident with the end of the
years liQuidations, caused an alarm in
the Stock Exchange and the public.
Notwithstanding the government
help the shares fell rapidly, and the
Banca Italiana di Sconto, one Of the
four big ordinary banks, founded in
1914, with a capital of 315,000,OO0, on
December 20, closed it's doors to the
public and suspended all payments,
asking the court for a respite, which
was Immediately granted, trusting that
on examination the assets will exceed
the liabilities, which amount to four
milliards Of lire.
The situation Of other credit banks
is good and is not affected by this
crisis, which might be called "heal-
ing crisis" that is to say, manypficti-
tious enterprises started and puffed up
by the war will disappear; the share
holders will certainly lose through it.,
but most important is the fact that the
government is determined not to in
crease the circulation.
New-York tribune., 1922-01-22
HosU Funds Accumulate

In weighing the advantages and dis
advantages the dealer must decide
whether, after all, the system paid in
the long run. Considering the tying up
of credit, the retardng of turnover OF
capital, the increased clerical help, etc,
can partial payment business be con-
Quoted prohtably? When it is put on
a paying basis by charging a slight
premium above the market for cash
transactions and by making a small
profit on interest charges it is gener-
ally agreed that the plan is worth
while if only to increase the amount Of
capital invested in industry.
One of the principal arguments in be-
half of the plan is the ease with which
it places before small investors the
advantage of saving regularly. In this
connection it is interesting to study the
figures of A. E. Bryson, of Halsey,
Stuart & Co., who says:
Figures show that an individual who
over q period Of thirty years would in
vest $50 month in per cent securi-
ties, reinvesting Immediately his semi
annual interest at the same rate, would
have an accumulation of practically
$4,000 in securities. His actual in
vestment in this period would be only
$4,000. His compound interest would
be responsible for the balance.
"Taking into consideration the ma
turing obligations in this period of in
vestment and requirements with the
new securities, it is not improbable
New-York tribune., 1922-01-22
Advise u. S. Travellers
To Use Credit in Europe
Restrictions OFT Cold Exports
in Most Countries Lead
to Complications

European countries in general have
enacted laws restricting the export Of
gold, aud American travellers in cross
ing the many frontiers in Europe have
often been subjected to serious annoy
ances and even loss by attempting to
use gold for their travelling expenses
instead of dollar currency or credit
instruments. Accordingly, American
Trade Commissioner H. B. Smith, Of
Warsaw, states American banks should
cease advising prospective travellers to
Europe to carry even a part of their
funds in gold.
The Trade Commissioner points out
further that in Europe gold is gener
ally worth less than credit instruments
payable in the United States. The
American traveller taking gold to Eu-
rope will get less for it than by placing
it on deposit in his bank in the United
States and cashing his check after his
arrival in Europe. That there should
be discount upon gold is not su,pris
ing in view of the extent to which most
European governments regulate private
transactions in gold; and that there
should be a premium upon credit in
struments payable in New York is in
evitable in view Of the greater ease in
using such instruments in making the
large balance of payments to the
United States.
New-York tribune., 1922-01-22
Italy Striuing to attract Tourists

Spec'ol Foreign Financial Correspondence
KOME, Dec. 3O.-As Hartley Withe ers
smr!1es in his book "Meanings OF
ttaoney'" Italy in her development "has
;s, ;eeh assisted by the possession of an
sas.naustlble asset. which she exports
ooAlihually, or rather lets other people
sv'he and enjoy. Italy holds the world
81 zee as an exporter Of beauty in
ss.neFy, IN atmosphere, in buildings, in
art treasures"
of .mee .n lhe end of the war the number
il. -dseiefs who pour from all lands
croas ..a'y 10 see these things is in
~ asins' either for the much felt need
or G aI'er the strenuous war period,
ny reason of the low exchange,
~ En ,l. reduces considerably the price
o,bg n'lhg IN Italy, as compared with
rnel countries. Before the war travel
80 ~ ~ italy were calculated at number
'"g 100000 year
Oh the estimate OF thirtv-dav ner-
d;.ence, and an average dajlv exnen-
S"ure OF about 20 lire a tourist we ar
l;so at yearly total Of 450. 900 900
including railway fares. In 1921
lumber OF travellers in italy is esti-
or,. CD at about a million. and the gov
.ba b,a'aent' believing that by imnrov;no
~ siave!ing means this number viii
for t1uot increase, has presented q h;ll
n., ene preservation and upkeen of +ho
nsrt;i MAJ beauties and buildinqs of a
nst s'c1iarly historic and artistic ;ntor-
I'm un December 2s the government con-
s;sn hrst agreement with the rms
Tia tsN:,i.e 1s.et representative in Rome for
'se'oa OF commercial exchange
New-York tribune., 1922-01-22
Inventories Essential

One of the most important steps in
arriving at net income of mercantile
or manufacturing concern is the tax
ing OF Inventories at the beginning
and end of the taxable year. In the
case OF u manufacturing concern. not
only should finished and partly finished
products be inventored. but also raw
material and supplies acquired for
safe, consumption or use in productive
process. Mcrchandisc purchased but
not actuaily received should be in
c!Iocd. If ttlc has passed to TIE pur-
chaser.
On thc ether hand. goods merely or
dcred for future delivery should not
be included Il transfer of title has not
been effected. Merchandise sold but
no, shipped to customers, as we'll as
merchandise out On consignment.
should be included in the inventory
unless included in gross sales for the
taxable year. The method of taking
Inventories depends largely upon the
characte" Of the business Of the tax
payer.
The revenue act of 1921, as we'll rs
tie former act provides that taxpayers
shall take their Inventories on such
7asis as the Commissioner may pre-
scribe as conforming as nearly as pcs
sible to the best accounting practice
IN the trade or business and as most
clearly rejecting the income. Under
the regulations of the Treasury De-
partinent inventories must be valued
on either OF the following bases, name
y, (a) at cost OF 90 at cost or at
market. whichever is lower.
Whichever basis is adopted must be
applied consistently to the entire III
ventory and the taxpayer who has used
the basis of cost, or the basis of cost
or market value, whichever is lower,
may not change the basis so adopted
unless permission is obtained from the
Commissioner. This method of valus-
ton of Inventories applies TO dealers
III securities as we'll as 20 dealers in
merchandise
New-York tribune., 1922-01-22
To Control Monopolies
South Australian Government
Considering New Law

The South Australian government
has submitted to the State Parliament
bill to control monopolies. Under
it, according to "Thc Melbourne Argus"
ANY person or corporation who mo-
nopolizes or combines or consp.rcs with
any other person or corporation to
monopolize any part of any trade or
commodity with intent to control the
supply or the price of any commodity
or service, or who, being the vendor
of any commodity or service, enters
into agreement or combination with
another vendor Of any similar COM
modify or service for fixing the price
at which they are to be sold, will be
guilty of an offense under the statute. -
The penalty is $500, or imprisonment,
and all contracte on the subject will
be null and void. A defense to prose-
cution for committing breach Of the
law is that what was done was not to
the detriment of the public.
New-York tribune., 1922-01-22
Whot Lies Behind Hunt for Pro6teers?
lll-Advised Charges Made
by One Branch of Trade
Against Another Largely
Founded on ignorance
Price Fixing Is Difficult
Raw Materials and Finished
Products Exhibit Same
General Price Trends

TIME latest government invcsti-
cation of retail prices, which
IS now under way, and into
which the romantic figure of William
j. Burns has been projected as a
hunter of proiteering among the re-
tallers, has opened wide the whole
subject Of price relations.
Ever siAce-in fact, even before
prices reached their peak it has been
charged by one branch of an industry
tnat another branch, taken as a whole.
was prohtcering. 1t has been common,
lor instance for manufacturers of silk
goods to assert that they have discoy-
cred retail merchants who paid 1.65 p
yard tor certain merchandise to be re-
failing these same goods at So a ward
or more. Only last week this asse rtion
was made in the Office of silk manu-
1acturcr in this city regarding re-
taller in Chicago.
But it has been in the clothing
trades that the charges of greatest
profteering have been made. Cloth
manufacturers have charged the ap-
parel manufacturers with taking too
VIDE margin Of profit, and the cloth
ing manufacturers in their turn have
asserted that retailers were asking too
much Tor clothing, based upon whole
SAFE prices. The retailer, in looking
over prices for raw materials, has
been convinced in many cases that the
cloth manufacturer and the clothing
producer have been getting too much
FOR their merchandise.
inns phase of the situation has been
moro recent development and orig
mated largely in the South and West
ern agricultural sections, where the
provcr5ial bushel OF corn laws only
one yard OF ribbon end the farmer
sells dozen calfskins or more to get
the price Of one pair of shoes.
Although isolated cases Of profitcer-
ing undoubtedly have existed and still
exist, it is safe to say that many of
the general charges made by one
branch industry against another are
founded on ignorance of the other fell
lows position in the economic scheme.
1t is hard fer the layman or the
wholesaler to understand why, in gem
eral, the retailer has to almost double
the wholesale price in turning his
goods over to the public. From a va
riety Of sources that have gathered in
formation on the subject, it is fairly
well established that close to 80 cents
OF the consumers dollar paid in to the
retailer goes for the retailers expense
Of doing business. This means that he
must add 20 per cent or more to his
cost price of merchandise in determin-
ing his selling price, to break even on
the transaction, to say nothing of max
ing profit.
Now the fact is that some depart
ments in store, such as handling cot
ton domestics, for instance, through
habit and tradition have been run
without any idea Of making a profit.
Such departments are more or less in
the nature of advertising features. Ac-
cordingly greater profit has to be
made in other departments to make up
TOR the lack of profit in these depart
merts.
Whether this is sound policy
economically is open to question, but
the retail business as constituted at
present, with it's high rents and other
New-York tribune., 1922-01-22

and fall of prices in raw materials,
manufacturers prices and in those at
wholesale and retail. There is a drag
usually in each succeeding stage from
the raw material down to the price paid
by the consumer, which is the last, or
dinarily, to feel the effects of condi-
tions that influence prices.
"Probably business to-day instead of
being controlled is in state of con-
fusion worse than ever before in the
istory of mankind, and it has been
evolved from conditions of the last
seven years, which were the worst that
man has faced since he began wearing
woven clothing. What we need more
than ANYTHING else right now is the
united effort of all forces--of all men,
for the rehabilitation of business and
the return of confidence in one another.
This is not to be accomplished by ire
sponsble charges of profteering based
on ignorance of the economic laws to
which business and commerce are
Ohedientn -
New-York tribune., 1922-01-22

conversely the silk men state the same
thing OF cotton men.
prices in general" says Alvin f.
Dodd, manager of the recently or
ganized domestic distribution de-
partment of the Chamber of Commerce
of the United States, "are not fixed by
intention, but rise and fall in
obedience to the state of economic
tide. The price movements of 136l-'65
match those Of the 1912 period and
the 1921 movement is substantial
ly the same as the others in the
height of the rise and in the rate of
the fall. Could any intelligent man
De found to deny the significance of
these facts; to believe that these facts
were arranged beforehand by some
collusion of merchants, which was able
to control the prices to be asked and
paid during three periods separated
from one another by about half GEN.
tury of time?
Graphs show the same general rise
New-York tribune., 1922-01-22

overhead, is more expensive bust
ness to conduct than either d manufac-
turing or wholesaling venture. Figures
collected by the National Wholesale
Dry Goods Association a few years
ago showed the cost of doing business
in that line approximated Is per cent.
The overhead in manufacturing is even
less, taking manufacturing establish
mcnts as a whole
Although these things are known in
general way to manufacturers,
wholesalers and retailers alike, there
arc other factors entering into the
particular conduct of one branch Of
the business that are not understood
by those engaged in another branch
1t is this lack of knowledge that has
led to charges Of profiteerng and
collusion among various branches Of
some industry by other branches of
the same industry. Cotton goods men
have stated that silk manufacturers
are making an "unholy" profit. and
New-York tribune., 1922-01-22

that this investor would actually buy
during the thirty years a total Of
100000 in securities-all on an actual
saving out of his own earnings of only
$4,000 Think what this would mean
to distributors in widening their mar
ket, If followed out, as it might be, by
hundreds and thousands of investors, if
the message were properly brought
home to them by bond distributors!
Souing the Interest
"Think what it would mean if only
part Of the vast sums now distributed
IN interest money and so universally
spent rather than continued in new
investment could be diverted again into
investment channels, as such program
as that suggested would make pos
sib1e!
"There is still another angle to this
problem which merits thought-the
competition which it affords .he "blue
sky peddler," whom we have always with
us. If it is made possible and easy FOR
investors of all c.Nses to buy con serva-
ment plan will mass 1.-THE work of
the vcndcr Of wortn\ss securities is
unquestionably made Auch harder.
"lf, moreover, the reA.lts of sys-
tematic program Of inve~ment and re-
investment in sound securities are
vividly enough presented through ad-
vertising and intelligent salesmanship,
much of the lure Of speculative sccuri-
ties is lost to the prospective buyer.
How many buyers appreciate that
through monthly payments of as little
as SIS or $50 on bond purchase they
could assure their own financial
future; and how many people would not
admit that such pro. ram would, in
the end, prove far more profitable than
occasional spurccs in the stock
market"
New-York tribune., 1922-01-22
Where Small Investors Gain
Easier Money Rates Make Partial Payment Plans
More Attractive TO Dealers, Aiding
Wage Farmers to Save

ASEMENT of credit to the
r., lowest rate in more than two
- years in this market, result
ing from the flow Of idle funds here,
has, directed attention among many
bond dealers to the problem of Of
fering partial payment plans to
buyers. Except for the fact that
bonds are enjoying an extremely
ready market at present it is prob
able that partial payment schemes
would attract even greater atten-
ton.
Observers who have studied the idea
from many angles believe that q par
tial payment program offers many ad-
vantages to bond dealers and invest
ment bankers despite the fact that it
is used in the main by small pur-
chasers and necessitates q costly ac-
counting system. 1t is contended that
with the return of financial conditions
to more nearly normal level partial
payment plans will become more popu-
lar, for the reason that a large num-
CCA VI AiHCI iCdHS nave SdlllcO WlUeC
acquaintance with this form of saving
as result of purchases Of Liberty
Bonds, many Of which were bought
on the installment basis.
It is pointed out, however. that edu-
cational work will have to be done to
overcome the prejudice against this
form of investment in the minds of
many who suffered losses in disrepu-
table enterprises which took advantage
of small investors ignorance about
securities and partial payment plans
in general. Abuses Of the system have
been stressed far more than have the
advantages, and it is asserted that any
systematic campaign in behalf of the
plan would place it on stable founda-
ton,
New-York tribune., 1922-01-22
Inventories Essential
In Fixing Net Income
Provisions of Statute Explained in Re-
gard to What Should Be Included
and What Omitted by Taxpayer
BY Morris F. Frey

Assistant Treasurer Guaranty Company o York
ind-
vdual defined in the statute, the
4 optional Of states spec-
what shall be included and what
ubtractng gross income
during the statutory
entitled general
either accual basis
depending method bookkeeping emnov
method followed
cny accrued also be accrued
New-York tribune., 1922-01-22
Steel Revival Is Far Off, Is View
Much Remains To Be Done in Readjustment,
Observers Insist Although Gradual
Gains Are Made

stack at Warren was placed in blast on
Monday.
"We have let the furnace stand idle
for long time after it was completed
at cost Of $5,o00,000, and the fact
that it has now been placed in opera
tion should at least bear evidence of
our faith in conditions improving from
now on" Mr.. Warner likewise pre-
diets that demand for steel products
will broaden sufficiently during the
next two years to warrant construction
Of the second unit of the blast furnace
plant.
Lloyd Booth, president of the Falcon
Tinplate Company, states that the in
terest is we'll booked ahead and pre-
diets steady run of business. Mr.
Booth states that the Canton plant
when in full operation will produce
from 100000 to 100000 base boxes of
tinplate year.
Inquiries are more plentiful than at
any time within the last six months
and it is believed that there soon will
be demand to cover future require
ments of moderate size. Pig iron
manufacturers say that they are get
ting inquiries for pig metal which is
taken as an indication that business
is showing q good sign of revival.
New-York tribune., 1922-01-22

The time as of which an item of in
cone or deductions is to be accounted
for must be determined IN the light of
tie fundamental, rule that the computa
NON shall be made III such manner as
70 clearly reflect the taxpayers income
IN accordance with the requirements Of
the statute. II the method Of account
INC regularly employed by taxpayer
N keeping his books clearly reflects
his income, such method is to be fol-
loved win respect to the time rs Of
,rhich items Of gross income and de-
6nctions arc TO bc accounted for.
While approved standard methods Of
accounting will ordinarily be regarded
rs clearly rejecting income no method
OF accounting viii be regarded by the
Treasury Department.. as clearly re-
fectjnc net income. unless all items of
rross income and all allowable deduc-
lions are treated with reasonable con
Sistcrcy. If the taxpayer does not
regularly employ n.eshod Of account
in- which clearly reflects his income
the computation shall be made IN such
manner as. in The g inion cf the Com
missioner. does cleal'y reflect such IL
cO,ne.