Twice-a-week plain dealer., December 17, 1909, Image 3

About Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913

Image provided by: State Historical Society of Iowa

                
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First National Bank
Extends a cordial invitation to
you, personally, to call and open
a checking account. It is the
BEST BUSINESS METHOD
S. A. Converse, Pres.
E. J. Thomas, Cashier
The Citizens
Savings Bank
.""Has added many new names
S to its list of patrons. Ex
tends special invitation to
.you to open a savings ac
"count. Our $1,500.00 offer
is still open. We promise
the best of service and satis
faction.
S. A. Converse, Pres.
John Kakac, Ca'hfer
v..
1 A
K' Kansas City to
Houston and Galveston
Without Changing Cars
This new daily through servicc is the serv
ice you want if you're about to go to Texas.
Through train from Kansas City every
day via
Rock Island Lines
and Trinity and Brazos Valley Railway
Drawing-room sleeping cars, restful berths, re
clining chair cars, excellent meals. No waits,
no delays. Perfect comfort all the way, with satis
fying speed.
THE-
PARKER'S
HAIR BALSAM
Clt&npcs and beautifies the h*lr.
Promotes luxuriant growth.
Nover Falls to Restore Gray
Hair to its Youtbful Color.
Cures scalp diseases & hair tolling.
gQc.aod$1.00at Druggists
i»t\ Mllof*' Anil-Pain Pills rr*iu»v«» t:on.
l")r. Miles' Anti-Pain TMlls
TOYS
TOYS
ones. Toys for all the children
in town. Toys that will make
you feel young again just to
handle and examine them, lie
sure vou don't miss this stock.
Distinctive
Presents
You don't want to give what every
body else gives. We know that and
we kept that in mind when we were
selecting our Christmas goods.
We did not buy a "whole lot" of any
one thing. We looked and looked ev
erywhere and anywhere to get things
that were especially odd or especially
pretty or especially attractive in some
way and we got them.
We are satisfied with this stock of
gift things which we have collected.
We are sure you will be delighted with
them.
Remember when you come here you
get articles which are hard to duplicate
—you get things which everybody else
hasn't got and can't get now.
Come in as soon as you can so that
you can take your pick of the entire
stock—come before all the best goods
are sold—come toJay.
For rates, tickets, sleeping car reservations
and general information, consult your local
ticket agent, or write
JOHN G. FARMER, Division Passenger Agent
Cedar Rapids, Iowa
The Ideal Bakery
And Eating Room
GEO. L. CHAMPLIN, PROP.
MEALS AND SHORT
ORDER LUNCHES
OHIO PURE MAPLE SYRUP
—KOR SALE-
When in need of anything in
our line give us a call and we
will try to give you satisfaction.
Northern Iowa Phone 375
PANTORIUM
N
OW you can get vour
suite pressed every
week at the rate of
T| PER MONTH
and also a
shine every day
Up stairs, fifth door north
of the Post Office
CLYDE E. PAYNE
PROPRIETOR
TOYS
We have them. Toys of all
kinds. Toys that don't cost
much and Toys that area little
expensive. Toys to make a
racket with and Toys to keep
baby quiet and amused. The
standard Toys and many new
Christmas
WITH
GAMES
GAMES
GAMES
No matter what kind of a game is
desired we can safely say "we have
it."
Board Games, Block Games and
Puzzles, Card Games, Games for Par
ties, Games of Every Description.
The Latest Games arc all here
some you haven't heard of yet are
now on sale at our store.
Cotne in and ask us to show them
to you. You are not expectcd to buy
if you do not wish to. We will gladly
show you anything in our store.
1
ffl WILL OPERATE
SECRETARY OF TREASURY
FRANLIN MacV ~AC.H EX
PLAINS.
INTENT OF LAW 13 SET FORTH
Grose End Net Income Are Defined
and Instructions for Ascertaining
Them Are Given In
Detail.
Washington, Dec. 13.—Secretary of
the Treasury MacVeagh has just Is
sued a detailed explanation of the
working of the new corporation tax
plan. It is in part as follows:
In the preparation of blanks and
regulations for the administration of
the corporation excise tax, provided
for in section 38 of the tariff act
of August 5, 1909, the first question
was to ascertain the real intent of
the law. After ascertaining the real
Intent of the law, the problem was
then to so prepare the forms and reg
ulations as to carry out that intent
and at the same time avoid, as far as
consistent, unnecessary and unreason
able Interference with ordinary prac
tices of business. The standard adopt
ed in making the regulations was that
they should be fair, just, and reason
able to the taxpaying corporations as
well as the government.
A study of the act discloses clearly
that the intent of the law is as fol
lows:
1. That the law is a revenue meas
ure and should be construed liberally
for- the purpose of producing revenue
for the government.
2. That the real intent of the law
Is to collect a tax of one per cent, on
the net income, less $5,000, of the in
dividual corporation, stock company,
or association liable to the lax.
In order to clearly understand the
intent of the law a few primary defi
nitions are essential:
Net and Gross Income.
The term "net income" as used in
this law means not only net profits
arising from the operation of the
principal business of the corporation,
but also items of income received
from other sources, such as invest
ments, holdings in other companies,
and businesses, etc. The expression
"net income" is used because there
can be no question as to its embrac
ing amounts of income received from
those outside sources, whereas there
might be some question as to wheth
er or not such items would be in
cluded in the expression "net proiits"
or "net earnings."
In the same manner the term "gross
income" includes gross profits, the ex
pn ssion being used because there can
be n« question but what it embraces
ill i'-n: of iiifMmc received by an\
•Sw* "f
•Win' .•..TtfrffiJU.
SWELL
PERFUMES
This Elegant Holiday Stock of
Swell Perfumes we are now offering
is the best selected and the choicest
we ever had.
The finest and most popular odors
of the best manufacturers of the
world, both American and foreign,
arc included in this Perfume showing
of ours. The gift cases in which these
Perfumes are contained are excep
tionally dainty and beautiful.
For an attractive and delight-in
spiring holiday remembrance it is
hard to think of anything nicer than
one of these Perfume "Gems."
Many different odors and styles of
cases to select from.
corporation from any source, while
there might be some question as to
whether "gross profits" or "gross
I earnings" would embrace such items.
Tax on Profits Intended.
A great amount of adverse critl
cism of this law is due to misappre
hension of the proper definitions of
these terms. The opinion was ad
vanced that because "gross income"
was not "gross profits" it must be
"gross receipts," and that, in the same
I way, because "net income" was not
"net profit" it meant "net receipts."
1
An examination of the law, however,
will show that if gross income means
gross receipts the statutory deduc
tions therefrom would not. leave net
receipts, but would leave merely an
arbitrary sum. It also appeared from
calculations that if these interpreta
tions were given to the law from mer
cant lie and manufacturing companies
alone the amount of tax received
would be many times the sum which
was estimated to be collected from all
corporations, joint stock companies,
and associations of whatever nature.
It is clear, therefore, that the pur
pose of the law is not to put a tax
on receipts, but a tax on profits and
1 that the terms "gross income" and
"net income" are used because, while
they are practically identical with
"gross profits" and "net profits," they
are yet more embrasive and conse
quently permit a more comprehensive
Rdministration of the law.
Classes of Corporations.
Corporations have ben divided into
six classes, and the following defini
tions adopted:
1 (a). Banks and other Financial
Institutions. Gross income consists
of the gross revenue derived from the
operation and management of the
business and property of the corpora
tion making the return, together with
all amounts of income (Including divi
dends received on stock of other cor
porations, joint stock companies, and
S associations subject to the tax) de
rived from all other sources as shown
I by the entries on its books from Jnn
I uary 1 to December 31 of the year for
I which return is made.
(b) Insurance Companies. Same
as 1 (n) above.
2. Transportation Companies.—
Same as 1 (a) above.
3. Manufacturing Companies.
Gross income received during the
year from all sources will consist of
tbe total amount ascertained through
an accounting that shows the differ
ence between the price received for
the goods and sold during the year
and the cost of such goods as manu
factured. The cost of goods manufac
tured shall be ascertained by an ad
dition of a charge to the account of
the cost of goods as manufactured
during the year of the sum of the
inventory at beginning of the year,
and a credit to the account of the
sum of the inventory at the end of
the year. To this amount should be
added all items of income received
during the year from other sources,
including dividends received on stock
of other corporations, joint stock
I companies, and associations subject
to the tax. In the determination of
the cost of oods manufactured
the Compliments of the Season to all we ask you the question of the hour-"WHAT ABOUT CHRISTMAS?" The children are asking it with wonderings
and hopeful expectations of what Santa Claus is likely to bring them. The older people are asking it, not so much in speculation regarding the remembrances
that Chrismas will bring them but rather as an inquiry as to how they are to provide Suitable and Satisfactory Presents for friends and relatives. May we help you to
solve the problem and put you in the way of doing your Christmas Shopping with Pleasure, Satisfaction and Economy? Our Holiday Stock this season is a marvel of
Beauty and Elegance—its New Features are Innumerable and its Varieties Almost Unlimited.
A very choice line of FINE ART CALENDARS decorated with hand etched brass, water colors, etc. We have
them suitable for the house or the office, for the desk, or to hang on the wall. The prices range from 5c to
$1.75 and every one is a bargain.
Our Collection of ART LEATHER GOODS has never been equaled in Cresco. These came from Los Angeles
and had to be ordered last February in order to get them. The west has always excelled in this class of
goods and you will find them superior to any you have seen.
REMEMBER you must Buy Early to get the choice. You may leave your purchase in our care until you are
ready for it.
EDWARD T. LOMAS
Cresco, Iowa
2=2
m*g*%
and sold as above such cost snan
comprehend all charges for mainten
ance and operation of manufacturing
plants and properties, but shall not
embrace any allowances for depre
ciation or losses, which items shall
be taken account of under the proper
heading as a deduction.
For Mercantile Companies.
4. Mercantile Companies. Gross
amount of income received during the
year freni all sources consists of the
total amount ascertained through in
ventory, or its equivalent, which shows
the difference between the price re
ceived for goods sold and the cost of
goods purchased during the year, with
an addition of a charge to the account
of the sum of the inventory at begin
ning of the year and a credit to the
account of the sum of the inventory
at the end of the year. To this amount
sliould be added all items of income
received during the year from other
sources, including dividends received
on stock of other corporations, joint
stock companies, and associations sub
ject to this tax. In determining this
amount no account shall he taken of
any allowance for depreciation or
losses, which items shall be lalten ac
count of under the proper lu ading as
a deduction.
T. Miscellaneous. Gross income
consists of the gross revenue derived
from the operation and management
of the business and property of the
corporation making the return togeth
er with all amounts of income (includ
ing dividends received on stock of
other corporations, joint stock com
panies and associations, suhject to this
tax) derived from all other sources,
as shown by the entries on its books
from January 1 to December 31 of the
year for which return is made.
Authorized Deductions.
Relating to statutory deductions,
the regulation is to the effect that the
deductions authorized shall include all
expense items under the various
heads acknowledged as liabilities by
the corporation making the return and
entered as such on its books from
January 1 to December 31 of the year
for which return is made. It will ap
pear, therefore, that the return is to
be made up from tbe ledger and not
the cash book, and that entry on the
ledger from January 1 to December 31
of the year for which return is made
is the evidence which will determine
whether or not an item is to be taken
account of in making the return.
The forms and regulations will go
to the collector of each district, who
will send copies of the blanks and a
copy of the regulations to every cor
poration whose name and address the
collector has been able to secure.
Failure to receive the blanks or any
notice relative thereto will not ex
cuse a corporation from making the
return required by law. nor will it re
lieve it from penalties for failure so
to do. If copies of blanks and regu
lations are not received on or about
January 1, application should be made
to the collector in whose district the
principal office of the corporation is
located, so that the return can be in
the hands of the collector by the
time required in the statute.
GIFT BOOKS
What a nice present a well printed,
attractively bound Book or Set of
Books makes. Books are proper
gifts for anyone and 110 one can have
too many Books.
At this store you will find the latest
fiction together with Hie standard
works of the best authors—all of
which are Holiday Editions specially
printed and bound to make attractive
and most acceptable presents.
We invite you to come in and in
spect these books—see how nice tliev
are—see what low prices we are sell
ing them at—remember it is is no
trouble for us to show you anything
we have in the store.
Among the best are Heart's Desire,
Jane Jones, Bachelor Bells, Longfel
low's Country, Kiley Roses, With
Christ in Palestine.
VA-
LEDBETER GIRLS ON STAND
I ELLS STORY THAT MAY HELP
FREE THEIR MOTHER.
Give Rather Important Testimony
Bearing on Mysterious
Murder.
Manknto, Dec. 11.—Developments
in the trial of Frank Smith, charged
with murdering Holley J. Ledbeter,
were more favorable to Mrs. Ledbeter
and distinctly to Smith's disadvantage.
Mrs. Ledbeter's two daughters, Hazel
and Mabel, were put on the stand with
her consent and gave straightforward
testimony. They and their two young
er brothers had gone to bed the even
ing of May 4 soon after 9 o'clock, fol
lowing shortly after Smith, and h«ard
no roise or disturbance of any kind
during the night.
Hazel went into her parent's room
downstairs and everything there
looked the same as usual. Smith was
off rearching for their father. The
evening before a neighbor's children
had been there playing with them and
their father had watched them play.
A small dog had bitten him on the
finger and Mabel said she saw her
mother tie the finger up. Neither saw
their father kick the dog or their
mother slap their father. The defense
claims the murder was committed be
fore midnight and the girls' testimony
about hearing their father call Smith
the npxt. morning is new and import
ant.
Searing, city editor of the
Daily Free Press, told of a conversa
tion he had with the defendant at the
jail the night of his arrest, and of
what was said later that night by
Smith and Mrs. Ledbeter when
brought face to face. The testimony
was confined to Smith's statement of
alleged Illicit relations with Mrs. Led
beter before the murder, of Mrs. Led
t.cter's reply when accused by Smith
of trying to buy poison of a Redwood
Falls doctor when she said it was
chloroform to take medicine stains
from her dress, and of Smith's hav
ing prefaced the question with, "Now,
rs. 1 edbeter, when you helped me
kill Mr. Ledbeter didn't you" do so and
BO, which he had finally corrected to
'bury Ledbeter."
The defense tried to get In the en
lire conversation, but the state ob
kcled, and the jury was sent out
while this poin*. was fought out. The
court finally decided that only such
parts of conversations as bore on mat
ters brought out by the state were
admissabie.
Henry Thompson, of Minnesota
Lake, testified to seeing Smith in a
saloon there when Smith claimed that
he had had illicit relations with Mr.
Ledbeter.
When Rubbers Become Decersary
And your shoes pinch, Allen's Foot
Ease, a powder to be shaken into the
shoes, is just the thing to use. Try it
for Breaking in New Shoes. Sold Ev
erywhere, 25c. Don't accept any sub
stitute. 25w4
GIFT
BRUSHES
Perhaps you never thought of a
Brush as a Holiday' Present. Well!
you just ought to look at these splen
did Military Hair Brushes, Handle
Hair Brushes, Clothes Brnshes, etc.
Sonic have fancy silver backs, oth
ers have backs of earved wood, still
others are of plain, polished natural
woods—a truly beautiful collection.
The bristles in each and every one
of these brushes are of fine quality.
They will wear along time and they
won't fall out.
These Brushes fire'handsome look
ing and also very useful presents.
I Think it over.
V4-4
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lerfurges')
.'(wfV
THE PERFUMES OJf SANTA'S
MEMOIl'V
Is like a halo that's uwr round us. His
pack may be heavy, but it's mvor too
large to carry
OUR DELICATE PERFUMES FOR
XMAS TIME.
XMAS GIFT SUNDRIES AT TlTIS*
STORE
are elegant, but not expensive.
Fergen's Pharmacy
Succcssor to VV. F. Milz
M. 0. SWENSON
E N E A
PLUMBING AND HEAT'NG
SHOP UNDER POSTOFFICE
Lot us figure on your job.
Orders for repairing promptly
attended to. Call Northern Iowa
Telephone No. 120J.
2 We are so certain that
I Itching. Bleeding and
I I Protruding Piles can aJ
ways bo relieved and ab
Bolutely cured by this
ointmentthatwcpo8itivelyguaranteesati&»
faction or money refunded.
"ail Dr. A.W. Chase's
dealers
MedicineCo.,BufTalo.N.Y.1fillIIvlllm1..mm1M!W.ChaseA.Dr.or
For sale qy P. A. Clemmer. Druggnt
LUMBER SAWING IN PROTIVIN
The Protivin Saw Mill Co. will sa
lumber in Protivin every day this win
ter. and you can haul your log$ in and
get your lumber back the same day
you come Get your logs ready no
and you can haul them in when the
roads are better. Get your lumber
sawed during the winter time and have
it ready to use next spring. We are
ready to saw lumber from now until
spring. Good work guaranteed every
way and no pay for slabs, only good
edged lumber, and reasonable prices
charged.
If anyone wishes to have lumber
sawed at home next spring, will be
ready to go out with the mill at any
time and do the job. Just come to me
and get the prices and make the bar
gain.
FRANK KALISHEK & COMPANY,
Protivin, Iowa.
DOLLS
DOLLS
DOLLS
Out line of Dolls is going to be
bought out "mighty quick"
when our customers find out
what a fine selection we have—
Small Dolls, Big Dolls, Wax
Dolls, China Dolls, Dolls that
Talk, Dolls that go to Sleep—all
Kinds, Sizes and Styles of Dolls
at all prices.
We also carry Doll Go-Carts,
Doll Carriages, Doll Dishes, Doll
Beds and everything else con
nected with Dolls.
Gift Bibles
and
Prayer Books
The one best gift for Christinas is a
nice Bible. If you are going to give a
Bible to anyone, we want you to come
in and see ours before you buy.
We have Family BiLles, Teachers'
Bibles and Children's Bibles in all sizes
and bindings at prices to suit all pock
etbooks.
There isn't one among them all that
is not nicely printed and bound. Some
are finely printsd 011 thin, strong pa
per and handsomely bound in soft
leather.
Sunday School teachers who are in
^nding to present their pupils with
BiUes will be especially interested in
our stocks and also in our prices. They
are now ready for inspection.
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