s- T^s: .. /w "*'T ^v ^,v A I ^v* v-** 14T«W h. v. *X? *rT*." .". ,^- 'V -:»*"V .*.^' -J.V." -. .- •••.: ••••-•••.-X.', a-4.• W tr iii '4 MOWER COUNTY NEWS, AUSTIN, MINN. Monday, Dec. 19, 1921. I Page Two .i&Erss **. ^\4P ECLIPSE ECHOES tire stock may not be inventoried at and Rain," by Concone, Edward the post adjutant is usually left to the is followed. To the net invoice price cost and also at market price, and the should be added the cost of ctransportation Crane. INCOME TAX commander. As a rule, the adjutant and other necessary charges lower of the two inventories used. Piano solo, "Interpretation of the' handles service and employment problems, incurred in acquiring possession of Inventories on whatever basis taken Witches Dance," by Dowell, Luther Weekly Shavings. in addition to his other duties. Edited By the goods. will be subject to investigation by the Volume 400. December 19, 1921. Noss. Splinters Commissioner of Internal Revenue, "In the case of a manufacturer Mower County News Market Saxophone "and Piano Duet, Edward Under This Heading The News and the taxpayer must satisfy the 'cost' means the cost of raw materials Place is the place to list anything Crane and Luther Noss. will, from time to time, print Do not, in fairness tf your family You can give presents that are practical Commissioner of the correctness of you may nave to dispose of. and supplies, expenditures for labor suggestions and articles of timely as well as beautiful and which "The Death Note of Jazz," Donald and yourself, take the risk of January the prices adopted. He' must be prepared and indirect costs incident to production, will be useful and remembered by the blizzards, which cripple railway interest for those who may Austin. to show both the cost and market including a reasonable proportion .transportation and cause coal stortage whole family. Some good suggestions have difficulty in interpretation price of each article included in the "The Appreciation of the Old Masters," of management expenses, but not emergency. Use reasonable precaution. are— of the new law. inventory. .^i jf Louis Hill. including any cost of selling or securing Let the Eclipse Fill Your BUILD A FIREPLACE "In the conduct of modern business, An alumni, Clayton Dauser, gave a Coal Bin NOW with Dependable Coal. return on capital. A BUILT-IN BOOK CASE OR KIT­ it is of the utmost importance helpful critic's report. 'Market' means the current bid CHEN CABINET IS A BIG HELP INVENTORIES. that every business, large or small, price prevailing at the date of the Mrs. Noss served & light lunch after TO THE HOUSEWIFE. Since water is necessary in. the chemical whether corporation, partnership or The following statement is issued inventory for the particlular merchandice. which the meeting adjuorned. HARDWOOD FLOORS MAKE EASY action of starches and sugars individual, shall maintain aii exact by Collector of Internal Revenue, L. The burden of proof as to the CLEANING AND ALWAYS LOOK which make fats, it is important that record of receipts and expenses. No M. Willcuts of the District of ^Minnesota: December will see the election of FINE. correctness of the price rests upon hogs have plenty of water if they are special system of accounts is prescribed the taxpayer in each case. Where no hundred Legion post officers. to get fat in the most economical These presents are always desired and One by the Bureau -of Internal manner. Eclipse sells the best of are gifts for the whole family. "Merchants, manufacturers and open market quotations are available, There are eleven thousand Legion Revenue, but the books should show Self Waterers. The car may need a new garage. the taxpayer must use such evidence business men generally need experience posts, each of which elects ten officers, in detail inventories, purchases, sales, The chickens may need a new poultry of a fair market price at the dates FREE EXPERT no difficulty in taking their inventories including commander, treasurer, capital investments, depreciation, and house. The implements may need a nearest the inventory as may be available, If the earth were covered with flowers for the year 1921 *o conform new shed to protect them from the similar items required in making up two vice commaders, chaplain, historian, INSPECTION such as specific transactions or the year round, even the busy severe winter weather, which is bound income tax returns." with the new revenue act. The language sergeant-at-arms, athletic director, compensation paid for cancellation of to harm them. The roof may need would get lazy. It's hustling for of the Revenue Act of 1918 and jentertainment director, and contracts to purchase commitments. Our watering and testing service new shingles. K. R. T. Entertains With things that keeps up our 'Tep." the Revenue Act of 1921, (Sec. 203), publicity officer. The appointment of is FREE but it is NOT Where, because of abnormal conditions It makes no difference what your careless or indifferent because property may need the Eclipse can relating to inventories are identical. the taxpayer has regularly sold Fine Musical Program of this feature—it is painstaking Good luck and opportunity both have give the best service and values for How Nef'York Grocery Firm merchandise at prices lower than the Big "That whenever in the opinion of and thorough. well developed habits of lighting on your money. Keeps Down Rats. market bid price, the inventory may the Commissioner the use of inventories the shoulder of the guy who is up on Vroome & Co., Butter & Cheese The service is for YOU regardless The K. R. T. Literary society met be valued at such prices. The correctness is necessary in order clearly to his toes and coming to meet them. Merchants, New York City, says: "We of your make battery A Pyrene Fire Extinguisher makes an of such prices will be determined at the home of Luther Noss Thursday determine the income of any taxpayer, keep RAT-SNAP in our cellar all the pnd without any obligation. Ideal Christmas Gift for the Home. by reference to., the actual night. inventories shall be taken by such taxpayer time. It keeps down rats. We buy Try it. Price $10.00. sales of the taxpayer for a reasonable it by the gross, would not be without Roll call was answered by short upon such basis as the Commissioner, University of period before and after the date of inventory. it." Farmers use RAT-SNAP because sketches from famous operas. After with the approval of the rats pass up all food for RATSNAP. Prices which vary materialy Southern Minnesota J. J. CLEMENS Secretary, may prescribe as conforming a short business session ,the meeting OR A CAR LOAD Three sizes, 35c, 65c, $1.25. from the actual prcies so ascertained as nearly as may be to the best adjourned to the following musical Sold and guaranteed by Pooler Drug will not be accepted as reflecting DIAL 7502 accounting practice in the trade of Co., Austin, Minn. Advertisement. program: DIAL 2047 Local Manager market. business and as most clearly reflecting December. Vocal duet, Frederick Crane and "The value of each item in the inventory the income." Kermit Meyer. may be measured by cost or "Present Treasury regulations provide Piano solo, "Interpretation of Wind market, whichever is fower. An en­ that inventories must be valued at either 'cost or' cost or market, whichever is lower,' Taxpayers were permitted, regardess of their past Everything Clean and Sanitary practice, to adopt the 'cost or market basis, whichever is lower' in taking AUSTIN'S BEST RESTAURANT their inventories for 1920.. Thereafter, the regulations provide, changes can be made only after permission is ... *i /l obtained from the Commissioner of Ideal Cafe Internal Revenue. "In the case of a merchant 'cost' means discounts approximating a fair rate of interest, which may be deducted Quality Food Well Served Gift for Our Prices Are Right or not at the option of the taxpayer, providing a consistent course Special—Oyster Stew 25c STOCKHOLDER'S NOTICE The Seventh Annual meeting of the M. H. KENASTON Stockholders of the Lansing State Phone Bridge Residence Bank of Lansing Minn., will be held at its banking house in Lansing, 802 Minn., on Tuesday, January 3rd, 1922, Main 659-R at 10:30 o'clock A. M. for the election REAL ESTATE and INVESTMENTS of Directors for the ensuing year and for the, transaction of any other business City and Business Properties. Rentals and Insurance that may come before the meeting. Office with Niehuis & DeBuhr Laad Co. Dated at Lansing, Minnesota, December 3rd, 1921. AUSTIN. MINN. Austin National Bank Bldg. L. S. CHAPMAN, Cashier. Dec. 19, 26, Jan. 2. For Mother, D&d, Brother, r© Friend or Sleds and Skis Enamel •Aluminum Relative Roasters For the Children and Grownups We all enjoy them "The Mower County News" until January 1,1923, will make the most ideal remembrance for their Christmas gift this year. Two visits each week for a whole year at only Tools of All Kinds Pocket Knives Shears and Razors Something That You Use Any Qne Appreciates a Present Every Day of this Kind i.'T DELIVERED BY CARRIER TO YOUR DOOR IN ANY PART OP AUSTIN, OR MAILED TO ANY PART OF THE UNITED STATES AND ITS POSSESSIONS. A YEAR-LONG GIFT, a constant reminder of the {fiver, FOOD AND MEAT CHOPPERS—a size to itieet every need and to those away from their home a letter twice each week. AXES A Very Practical Gift Do your Christmas shopping in The News first—you will be better satisfied •rr FORKS Of All Kinds •r ull _. _.oun_ yi- BUY USEFUL GIFTS JE6e House of Service' 2 Bros. ""i*' J. t-' h'' jr"? Avistiii, Minn.