The Syracuse and Lake Wawasee Journal, Volume 15, Number 12, Syracuse, Kosciusko County, 20 July 1922 — Page 3

VALUABLE INFORMATION FOR INCOME TAX PAYERS «■ . The following statement is issued by M. Bert Thurman, Collector of Internal Revenue, District of Indiana. Numerous inquiries have been received by the Bureau of Internal Revenue concerning Section 202 (c) (1) °f the Revenue Act of 1921 which provides that for the purposes of the income tax no gain or loss shall be recognized when property held for investment, or for productive use in trade or business (not including stock-in-trade or other property held primarily for sale) is exchanged for property of a like kind or use. Many taxpayers and salesmen of securities are interpreting this to mean that all sales of securities and the immediate! purchase of like securities are exchanges resulting in no gain or loss. Such interpretation of the law and regulations is erroneous. The Bureau realizes that* in many cases it is difficult to determine whether the transaction is a true exchange or really a sale and reinvestment of the proceeds in other securities. To constitute an exchange within the meaning of Sec. 202 (c) (1) the transaction must be reciprocal transfer of property for property as distinguished from a transfer of property for a money consideration. In such an exchange neither principal would pay a commission to the other, although if a broker in his capacity, as such, negotiated the exchange for either principal the fact that the broker was paid a commission for his services would not of itself take the transaction out of the classifiation as an exchange. If a person owning one hundred shares of stock in “A” corporation should instruct a broker to exchange them for shares of stock in “B” corporation, it would be essential in order to bring the transaction within the meaning of the exchange provisions of the revenue act that the person owning the shares of “B” corporation stock should receive the one hundred shares of “A” corporation stock and that the person owning the one hundred shares of “A” corporation stock should receive the shares of “B” corporation stock. The stock received in exchange should be treated by each party as taking the place of the property exchanged. If, on the other hand, the instructions to the broker are in effect to sell one hundred shares of stock in “A” corporation and invest the proceeds in shares of stock in “B” corporation, the transaction cannot be treated as an exchange but is a sale of “A” corporation stock and a purchase of “B” corporation stock. The element of exchange in this case is lacking as there is no reciprocal transfer of securities between principals unless by mere coincidence.

“Slip into a ‘Bradley’ and out of doors” / J / For long-lived depend|sF /g / able serv^ce » be sure yZ /Yr / your bathing suit is a ( “Bradley.” inttA i They are made in all i stylos and weights—in S \ one quality, that' is I BRADLEY. All prices. ■ ■ ■ ■ ** —° — WlWif \ FOR SALE BY A. W. STRIEBY

Where the broker in the transaction, whatever his instructions ; may be, sell the stock in “A” cor-, poration and then buys the stock in “B” corporation, or buys the stock in “B” corporation and then sells the stock in “A” corporation, there is an interval of time, however short, during which one or both of the customers would have title to no securities whatever. In a true exchange the passing of title to 4ie stock in the “A” corporation md acquisition of title to the >tock in the “B” corporation, and vice versa, would be simultaneous as to both parties to the exchange. In all cases where there is a doubt as to whether the transaction is a sale or exchange, all facts connected with the transaction should be submitted to the Bureau of Internal Revenue for a ruling in the matter. ——o HOT WEATHER SUGGESTIONS The main secret of being happy in hot weather is to bathe early and often.' I Wear light clothing that can be frequent washed and changed. Keep a clear conscience. The less we permit ourselves to think about the heat, the less we shall feel it, as the more we ' fuss about a thing inevitable, the harder it is to bear. Eat lightly and sparingly. A person requires less food in hot weather, if he can only make himself think so. Fruit, oatmeal, an egg and whole wheat bread constitutes a good breakfast in hot weather. Nature has indicated wha> we shall eat at this season of the year, by pouring out, the huge amounts of vegetables, fruits and berries. More vegetables and less meats, for you mid-day meal. Follow natures guidance and have health. Frequent attacks of indigestion, this time of year often come from overeating. ft 0 SAFE WAY TO RIDE According to the national safety council, street railway transportation in the largest cities of the United States has come to rank with the safest forms of traffic. The council finds that street car fatalities are gradually decreasing while automobile, truck and bus accidents are on a serious up-grade. In 1915, the council report states, the number of people who lost their lives by street car accidents in 35 American cities with a population of 17,500,000, was 559; in 1916, 668; 1917, 785; 1918, 787; 1919, 576 and 1920,525. The sudden drop in the last two years is credited to safety education and development of traffic control. Automotive fatalities, meanwhile, present these totals: 1915, 1,274; 1916, 1,565; 1917, 2,057; 1918. 2,330; 1919, 2,478; 1920, 2,670.

TELEPHONES ■ i In 1900 the United States had one telephone to every 100 persons. In 1921, there was one telephone in this country to every eight persons. Telephones had increased twelve times as fast as the population. With a trifle over 6 per cent of the inhabitants of the world, the United States has 65 per cent of the world’s telephones; more than two and one-half times as many as Europe, and more than six times as many as all the rest of the world put together. These figures help to explain the speed with which business is transacted in America, and at which visitors from other parts of the world never cease to marvel. The American wants quick action; and, to get it, he turns to the phone, which is primarily a time saver. He is a luxury-, loving creature, too, and uses the telephone a great deal merely as a convenient method of keeping in touch with home and friends; , but its first and basic purpose is to save time. o NEW FISH HATCHERY Indianapolis, July 17. —George N. Mannfeld, superintendent of the fish and game division department, and George Berg, superintendent of state hatcheries, are in Johnson, Jackson, Washington, Martin, Dubois, Pike and Davies counties this week prepartory to determining which county offers the best site for locating a fish hatchery. The decision will be made this week and the site selected will be recommended to the commission for purchase by the state. It is hardly possible that stock fish can be produced at the new hatchery before the spring of 1923, Mr. Mannfeld says, for it will take considerable time to build the ponds, hatchery building, and for mosses and the like which form a large percent of the food for fish, to grow in the ponds. o MOUNT EVEREST According to the latest determination of the Indian survey, the height of Mount Everest is 29,141 feet. It is the highest ascertained point on the surface of the globe. The greatest Himalayas present such difficulties that climbers have been compelled to refrain from attempting to reach their greatest heights, as well as from the fact that the effects of altitudes are not yet fully understood. The greatest mountain heights yet reached are 24,000 feet, by the duke of the Abruzzi during his expedition to the western Himalayas, and 24,000 feet by Norwegians on Kabru, one of the mountains near Darjeeling. o A classified ad will sell it.

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SYRACUSE AND LAKE WAWASEE JOURNAL

SLATS’ DIARY By Ross Farquhar. Friday—We had sum indesirable Co. this evning and I was

he is without is gosh blamed lucky he is without it. Sat. —I feel sum times like I shud ought to leave home and go out in to the wirld so I woodent hear so much unpleasant trubble at home. Tonite pa says to ma. Why dont you say nice sweet Things to me like other /mens wifes do. And in a 2nd ma up and ast him whose wife had ben a tawking thataway to him. Sunday.—l think are lanlord is going to get marryed agen. They is a woman after him witch has all reddy raised 2 husbands apd 6 childern. But we shudent ought to wirry because we are bilding a house of are own. Monday—Mrs Gillem ast pa what governs the increase and Decrease of the population in the Fillipines and pa answered• and replyed that he gess it depended upon the no. of people liveing there at odd times and etc. Tuesday—Pa dussent apprecate Literature. Ma was telling that a ole frend of hern had dropt ded today wile she was eating and all pa sed was he ast her Well what was she eating. Wednesday—The fellow witch plays a Saxafone nex dore hurt his hand and tonite his ma cum in and ast pa did he have sum carbolick acid for her son. Pa sed No we ha vent none but I will lone*you a good gun. Thursday—Ma and me contracted a lot of Jiggers frum setting on the grass at a picnick and today I and she went to the drug store and ast the Clerk i did they have a Remedy for Jig- • gers. He sed Mebby so, What I seems to be rong with them. ■ witch bout settled ma for good, o Not subscribing for your home paper because it is not as large 1 as some outside paper or because you take some other paper, is no , argument not to take your home 1 paper. In your home paper you get your home news, the thing for which it is published. o Mr. Bootlegger kills two birds with one stone by making both himself and the undertaker rich with the same bottle.

MAKE IT FIFTY-FIFTY A well known labor leader advocates the elimination of strikes and strong arm tactics in the settlement of disputes with employers. He remarks, justly, that the public is tired of them, and that when an organization gets in Dutch with the people it is in a bad way. The laborer is worthy of a just hire—no more, and no less. The brain that directs is worthy of a just compensation—no more, and no less. Neither side has a right to assume a “dog in the manger” attitude, nor have they the right to rob the buying public to fatten themselves. The only effective remedy for this condition of affairs lies in the hands of congress and the government. There are too many swollen incomes in this country. This condition is made possible by combinations in restraint of trade and by profiteering in the form of extravagent price boosting. | These matters should be regulated by law, and the penalty for violations should not be in the form of fines. The guilty should be sent to jail. t And in order that punishment may be swift and sure, the public official who fails to prosecute should himself be sent to jail for shirking his sworn duty. These may seem like harsh measures, but they are the only ones that will prevail. Labor leaders will continue to order strikes as long as employ-, ers continue to gouge the public ( and put all the spoils in their own pocket. Eliminate gouging and strike : a fifty-fifty basis of settlement ! and strikes will be a thing of the pass. o INDIANA ONION CROP SMALL Not more than 65 per cent of a normal crop of commercial onions in Indiana is indicated in reports received by the United States Department of Agriculture. Plantings cover 4,500 acres, compared with 3,900 acres in 1921, but stands are thin in some sections. Plantings by counties are: Whitley, 970 acres, Noble, 650 acres, Starke 500, Dekalb 385 acres, Jasper 370 acres, Stuben 344 acres, and Kosciusko 390 acres. Much replanting has been caused by early rains.. Poor condition of the crop is most noticeable in Noble and Steuben counties, but occurs in all sections. A majority of the fields show good color and the onions are doing well, but the prevalence of thin fields in some sections will greatly reduce the size of the crop. o Mr. Edison has invented some more questions. The market was flooded already. What the world needs is answers.

grately disgusted. This fellow kep nocking the U. S. government and bisness men and evrything. Pa sed after he had went away that this gink was a man without a country and all I got to say is that witch ever country

FORD RETAIL SALES MAKE NEW RECORD Retail sales of Ford cars, trucks and tractors established a new high record during June, when, according to a statement issued from the Ford Factory at Detroit, an average of 5,709 machines were sold daily. Ford sales have been showing a constant increase each month this year; June being the highest in the history of the company with a total of 148,439 cars, trucks and tractors. Os this number, 6,054 were sold by the | Ford Company of Canada and 9,435 by the various European Ford Companies and South American Branches, reaching purchasers in practically every civilized country in the world. With the closing of business for June, Ford records disclosed the fact that total sales for the first six months of 1922 were well over the half million mark, the exact figures Deing 652,261. This is also a new high record ] as it is considerably in advance 1 of any previous half year period. July Ford sales are expected to equal, and probably eclipse June. The estimated output of cars, trucks and tractors has been placed at 151,767, although dealers have requisitioned more than 200,000. Ford officials state that every attempt has been made to supply their dealers with sufficient cars to fill their orders, but that for the past three months, prompt deliveries have been impossible with some of the types. The demand for Ford enclosed cars has I been especially hard to meet, ' due to the ever increasing I popularity of the coupe and sedan for all year around use. A reflection of general business conditions is seen in the record of Ford truck sales, which show an increase of eighty four per cent over last year. Merchants and farmers alike have come to recognize the utility of the motor truck in cutting transportation costs and speeding up deliveries, and the fact that they are buying nearly twice as many now as a year ago clearly points to better business conditions. At the present time, Ford is employing 75,000 men in Detroit. q When better tires are built. United States Tire Co. will build therni. 11-ts

CATARRHAL DEAFNESS is often caused by an Inflamed condition of the mucous lining of the Eustachian Tube. When this tube is Inflamed you have a rumbling sound or Imperfect hearing. Unless the inflammation can be reduced, your hearing may be destroyed forever. HALL’S CATARRH MEDICINE will do what we claim for it—rid your system of Catarrh or Deafness caused by Catarrh. HALL’S CATARRH MEDICINE has been successful in the treatment of Catarrh for over Forty Years. Sold by all druggists. F. Cheney & Co., Toledo, O.

JT Everything for Your jij Good home rl made bread, biscuit ' and cookie* al way* make a j “hit** with husbands and |C kiddies. And they’re ticr— x kled when you bake a , tv— — AourO delicious cake. \\ übvA w • ** y° u afe not s ettin ß M\ 818 good result! as you* " would like to have, why .Mt YLOVr Lfr a • ' M /“TT* |jM| Hour you are using. I We have handled many ij JL different brands of flour ■ and meal and know just ■' ■—Q which are giving the best satisfaction. We invite you to Telephone Orders Given Prompt Attention Seider & Burgener PURE FOOD GROCERS SYRACUSE, - INDIANA

GAME LAWS VIOLATIONS (Special to the Syracuse Journal.) Indianapolis, July 17. — One hundred and sixty-two persons were arrested in June by wardens of the state conservation department which is five more than arrested in June a year ago, a report of George N. Mannfeld, chief of the fish and game division, to Richard Lieber, director, made public today shows. June arrests this year resulted in 148 convictions. Eleven cases are pending. The total in fines and. costs as a result of warden activities during the past month is $2,857.55. One crew of two men made twenty-nine arrests, and in the last week of June, twenty-five wardens arrested 52 alleged violators, Mr. Mannfeld says. Offenses listed in the report follows: possession of illegal nets and seines. 35; taking or possession of fur-bearing animals or hides out of season. 31; hunting or fishing without license, 28; taking undersized fish, 23; taking fish in closed season, 13; killing squirrels out of season, 8. Other offenses such as seining, possession of fish traps, trot lines, spearing, hunting on Sunday, 24. WHAT TO READ If you have the “blues,” read the 27th Psalm. If your pocket or pocketbook is empty, read the 37th Psalm. If people seem unkind or misjudge you, read the 15th chapter of John. ■- If you are discouraged about your work, read the 129th Psalm. If you are losing confidence in men, read the 13th chapter of First Corinthians. If you can’t have your own way in everything, keep silent and read the third chapter of James. If you are feeling all out of sorts read the 12th chapter of Hebrews. o The Journal 52 times a year for $2.

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