oc-plain-dealer 1922-01-05

THURSDAY, January 5, 1922 TAXPAYERS MAY CARRY OVER LOSS Exemptions of $2500 for married persons and $400 for dependents, provided in the new income tax law and effective on returns for 1921, will save many thousands of dollars to Orange-co income taxpayers, according to E. B. Burns, deputy collector in Orange-co for the U.S. internal revenue bureau, in an address before the Santa Ana Kewanis club. Burns made it clear that these exemptions are available to payers who have to file returns in 1922 for incomes for 1921. There has been considerable doubt on this point, information being given out immediately following the adoption of the new regulations that the exemptions not be applied to the 1921 returns. Burns asserts that there are many hundreds of income taxpayers in the county in the $2000 class and the increased exemptions will come as great relief to them. Tax rates remain the same. There is no increase in exemptions for single persons. He referred to three classes that must file reports. First all single persons, and they include widows and widowers and huebands and wives who are living apart voluntarily with net incomes of $1000 or over. Second, all married persons with net incomes of $2000 or over, regardless of whether the exemption would relieve them by paying a tax. Third, every person with a gross income of $5000 or more, regardless of net income and exemption of $2,000. This is a new feature in the law. The other two points are old, but emphasized to make them clear. Of particular interest to Orange-co farmers is a new provision, applicable to 1921 returns, making it possible for a farmer to carry a loss over from one year to the next. For instance, if a farmer in 1921 sustains a loss of $1500 and in 1922 he shows net income of $1000, one thousand dollars of the loss in 1922 can be absorbed in loss exemption and the $500 can be applied following year should income show a TOKIO POSTOFFICE DESTROYED BY FIRE LONDON, Jan. 5.—Fire broke out in the general postoffice building in the heart of the business district of Tokio today, said a Central News dispatch from that city. At the time the dispatch was sent the building was doomed and the firemen were making frantic efforts to save the mails and limit the conflagration. ITALIANS AFRAID TO AID POLICE LOS ANGELES, Jan. 5. — While residents of the Italian district trembled today in fear of the unidentified gunmen, suspected of being members of the "Black Hand," who shot and killed Gio Lunetta, 45, 1812 Mozart street, near his home, police detectives started an intensive search for the slayers and the black "death car" in which the killers operated. Arafid that the gunmen would send them the way of Lunetta should they give information relative to the mystery murder, persons living in the Italian colony were uncommunicative today when questioned by the police. BLIZZARD RAGING IN MIDDLE WEST CHICAGO, Jan. 5.—Lake Michigan saved Chicago from the winds of death and destruction that reached the vicinity late today. A heavy gale, blowing from the west at a speed of 41 miles an hour, turned the placid surface of the lake into a huge bowl of foaming billows. Steamers, due to sally held fast to their docks while the great blizzard which played havoc with Kansas City Mo.; Lincoln, Neb.; and Sioux City, Ia., raged on. DETAIN CHILDREN OF CALIF. ENGINEER NEW YORK, Jan. 5.—Four children of M.I. Boyd, engineer of Death Valley, Cal., were detained at Ellis Island today, immigration authorities saying the Australian quota had already gone through. Their mother of English birth, was permitted to enter the United States. 70 CANVASSEE RIVER LEVEL Seventy men are in every district is being canvassing for funds at trol, it was announced. There will be a day at noon at the quarters on N. Los which the committee their progress and t and money. Subscribers are required by solicitors either checks, in order that necessary to call a secr. Over 90 pct. of them proached so far have is stated, and only from people whom they signate as "chronic" been raised. It is said to have best campaign that could expected, there being response. JURY FINDS STERN ICE S.M. Stern was for yesterday by a jury in on a charge of embezzlement Premier auto in the American Legion post jury was out 1-1-2 hours. Whether he will join J.H. Stern, now serving one to 14 years at San similar charge, dependence of his appeal for probation be filled in superior court m. Friday, and which hearing the following week for investigation. The court yesterday chances for probation. LEVY CONTRACE Robert Forgle of Jordan Lumber Co. was in Anaheim today east of obtaining therethe plilling on the new built by Anaheim an Ana river. It is sta of net income and exemption of $2,000. This is a new feature in the law. The other two points are old but emphasized to make them clear. Of particular interest to Orange-co farmers is a new provision applicable to 1921 returns, making it possible for a farmer to carry a loss over from one year to the next. For instance, if a farmer in 1921 sustains a loss of $1500 and in 1922 he shows net income of $1000, one thousand dollars of the loss in 1922 can be absorbed in loss exemption and the $500 can be applied the following year should income show a sufficient to absorb the $500. A loss can be carried over for a period of three years. In order to avail themselves of this provision farmers must keep books and keep them systematically and accurately. Another provision that will be effective for 1922 returns is one limiting the tax on capital increases to 12½ pct. Gains thru capital increases must be kept separate from income from other sources. The maximum rate was established to DETAIN CHILDREN OF CALIF. ENGINEER NEW YORK, Jan. 5. — Four children of M. I. Boyd, engineer of Death Valley, Cal., were detained at Ellis Island today, immigration authorities saying the Australian quota had already gone through. Their mother of English birth, was permitted to enter the United States. encourage investment of capital in industrial enterprises. The deputy collector announces definitely that as soon as income blanks are available information will be given out thru the press. Blanks will be sent from the Los Angeles office to those who filed returns for 1920. Burns does not have blanks at this time and none will be available until received by the Los Angeles office and forwarded here. Condensed Statement of Condition First National Bank Of Anaheim As Made to the Comptroller of the Currency, at the Close of December 31, 1921. RESOURCES Loans and Discounts.....$1,282,685.09 (This is the total amount of money this bank has loaned on collateral and endorsement which has been approved by our Board of Directors.) Overdrafts.....336.30 (This covers the amount customers have checked in excess of their deposits. Overdrawing is considered a bad practice and we always keep them at a low point.) United States Bonds.....240,975.00 (Market value of U. S. government bonds owned by this bank, a splendid investment and readily converted into cash.) Other Bonds and Securities.....36,767.50 (Market value of municipal bonds and other obligations owned by this bank, all of which are convertible readily into cash.) Banking House.....78,261.57 LIABILITIES Capital and Surplus (Cash pledged by sellers for the protective positors. This am not be withdrawn.) Undivided Profits (This represents funds left by the sellers for the protector positors as it is then to build here a BANK.) Interest Collected Not Earned (This is interest o borrowed from which has been paid due.) Circulation (This represents a circulating notes issued by the bank the government's ion and payment is guaranteed by United States Bonds..... 240,975.00 (Market value of U.S. government bonds owned by this bank, a splendid investment and readily converted into cash.) Other Bonds and Securities 36,767.50 (Market value of municipal bonds and other obligations owned by this bank, all of which are convertible readily into cash.) Banking House 78,261.57 (This is money invested in our bank and office building and lot which has a value of much more than this amount.) Furniture and Fixtures 30,052.96 (This represents our equipment to carry on our business, including our vaults.) Redemption Fund 2,500.00 (This is money deposited with the Treasurer of the United States to redeem circulating notes issued by this bank.) Cash and Due from Banks 519,931.32 (This covers the amount of cash in our vault and on deposit with the Federal Reserve Bank, and other approved depositors and is payable on demand.) $2,191,509.74 OFFICERS WM. SIEMANN, President SAMUEL KRAEMER, Vice-Pres. CHAS. A. BOEGE, Vice-Pres. H. H. BENJAMIN, Vice-Pres., Cash. O. E. HANSON, Asst. Cashier M. D. CLARK, Asst. Cashier L. A. MUCKENTHALER, Asst. Cash. DIRECTORS SAMUEL KRAEMER W. J. SIEMANN H. H. BENJAMIN CHAS. EYGABRO E. ZITZMANN A. S. BRADFORD S. C. HARTRAND Combined Resour 70 CANVASSERS FOR RIVER LEVY FUND Seventy men are in the field, and every district is being covered in the canvassing for funds for flood control, it was announced today. There will be a meeting Saturday at noon at the C. of C. headquarters on N. Los Angeles-st at which the committees will report their progress and turn in papers and money. Subscribers are requested to give the solicitors either money or checks, in order that it will be unnecessary to call a second time. Over 90 pct. of the people approached so far have responded, it is stated, and only two objections from people whom the workers designate as "chronic kickers" have been raised. It is said to have been the cleanest campaign that could have been expected, there being a wide-spread response. JURY FINDS S. M. STERN IS GUILTY S. M. Stern was found guilty late yesterday by a jury in superior court on a charge of embezzling a $5000 Premier auto in the Santa Ana American Legion post's raffle. The jury was out 1-12 hours. Whether he will join his brother, J. H. Stern, now serving a term of one to 14 years at San Quentin on a similar charge, depends upon the fate of his appeal for probation which will be filed in superior court at 9:30 a.m. Friday, and which will be given hearing the following Friday, after a week for investigation. The court yesterday intimated his chances for probation were slight. LEVY CONTRACTOR HERE Robert Forgile of the Baxter & Jordan Lumber Co. of Los Angeles was in Anaheim today in the interest of obtaining the contracts for the piling on the new levee to be built by Anaheim along the Santa Ana river. It is stated that 2000 DISAGREE ON JUMP IN WATER LEVEL City Manager O. E. Steward today did not agree with the theory of City Engineer Clyde Butler and H. V. Hannum, power plant superintendent that a seven-foot raise in the water level at the city pumps was hot directly due to the recent heavy rainfall, as they advanced in an interview yesterday. "It water will flow along a gravel bed at the rate of six feet an hour, or about a mile per month, it certainly should sink 70 feet thru the ground in a very few days," says Steward. "I have noticed when irritating pumps stop and city pumps are working at a minimum, there is a pause in the decline of the water level and then a very slow rise. This jump of seven feet was too much to credit to the easing off of pumping plants. If the raise were directly due to their cessation, we might expect when they are going full tilt that the water level would drop a like distance in a similar length of time." LARGE AUDIENCE AT LEGION PROGRAM The American Legion program last night in the Fairyland theatre was attended by a larger crowd than they have enjoyed at any previous entertainment. Everyone was delighted with Ernest J. Powell's lecture, "Boosting or Busting the Home Town," the hearty applause speaking for his listeners. The Legion was disappointed in not receiving the promised six-reel picture, "The Wolf Pack," a western picture being substituted. FEDEKMAN RETURNS HOME "Home, home, sweet, sweet, home be it ever so humble, there's no place like home." If you want to make a hit with Charles Federman, local merchant, just strike up that song. You'll land him. Mr. Federman has been on a three months' trip-thru the cast, visiting 35 states and relatives in various parts of the cast. He left New York on his return trip Dec. 29; landing in New Orleans on New Year's Day. He made stop-ups in Texas and the DOOLEY QUITS WOOLWORTH L. E. Dooley has resigned as manager of the local chain of Woolworth stores, it was made known today. Mr. Dooley has been associated with the local store for the past nine years and is very popular in Anaheim and vicinity. What his plans are has not been announced, but he expects to remain in Anaheim, believing this to be the best business center in the U.S. For its size. He is succeeded by W. R. Collins of Los Angeles. Try Plain Dealer Want Ads. Pre-Inv Starting Friday, SPECIAL Included in plain coutil and are elastic girdles, hip confin 98c, $1.9 BRASSIE ONE-FOURTH OFF on all Crepe de Chine Unde WATCH OUR WINDOWS of Condition of nal Bank at the Close of Business, Saturday, 1921. LIABILITIES Capital and Surplus ..... 120,000.00 (Cash pledged by shareholders for the protection of depositors. This amount cannot be withdrawn.) Undivided Profits ..... 22,312.60 (This represents additional funds left by the stockholders for the protection of depositors as it is their desire to build here a STRONG BANK.) Interest Collected and Not Earned ..... 9,435.75 (This is interest on money borrowed from this bank which has been paid before due.) Circulation ..... 50,000.00 (This represents amount of circulating notes (currency) issued by the bank under the government's supervision and payment of which is guaranteed by the gov- FEDEIKMAN RETURNS HOME "Home, home, sweet, sweet, home be it ever so humble, there's no place like home." If you want to make a hit with Charles Federman, local merchant, just strike up that song. You'll land him. Mr. Federman has been on a three months' trip-thru the east, visiting 35 states and relatives in various parts of the cast. He left New York on his return trip Dec. 29; landing in New Orleans on New Year's Day. He made stop-overs in Texas and the Grand Canyon. He declares there’s no climate like our own So. Calif. ESCAPING PRISONER SHOOTS KY. JAILER CATTLETSBURGH, Ky., Jan. 5. — Lon Hood, Boyd county jailer, was probably fatally shot by a prisoner who made his getaway in a jail delivery here this morning. Try Plain Dealer Want Ads. Condensed S American S (Owned by Stockholders of the First M urday,Dec RESOURCES Loans ..... $ 800,475.58 (This is the total amount of money this bank has loaned on first real estate mortgages and U. S. bonds and has been approved by our board of directors.) U. S. Bonds ..... 194,106.02 (Market value of U. S. government bonds owned by this bank, a splendid investment and readily converted into cash.) Other Bonds and Securities ..... 30,960.94 (Market value of municipal bonds and other obligations owned by this bank, all of which are convertible readily into cash.) Interest Collected and Not Earned ... 9,435.75 (This is interest on money borrowed from this bank which has been paid before due.) Circulation ... 50,000.00 (This represents amount of circulating notes (currency) issued by the bank under the government's supervision and payment of which is guaranteed by the government bonds.) Deposits ... 1,989,761.39 (This item represents the total amount of money on deposit in this bank by hundreds of persons, firms and corporations in Anaheim and vicinity.) $2,191,509.74 DIRECTORS SAMUEL KRAEMER W. J. SIEMANN H. H. BENJAMIN CHAS. EYGABROAD E. ZITZMANN A. S. BRADFORD S. C. HARTRANFT OFFICERS W. J. SIEMANN, President SAMUEL KRAEMER, Vice-Pres. H. H. BENJAMIN, Vice-Pres. E. ZITZMANN, Cashier Resources - $3 WOOLWORTH designs as mananion of Woolworth known today. associated with past nine years in Anaheim and mans are has not the expects to reelieving this to center in the U. succeeded by W. Jageles. Want Ads. CHANGE PLATFORM AT WHITE TEMPLE Extensive changes are being made this week to the pulpit platform and choir loft in the main auditorium of the White Temple choir seats are being moved over to center of the platform in front of the organ and back of the pulpit. The pulpit will be separated from the choir loft by a paneled bannister. The whole platform will be moveforward about three feet and there will be a readjustment of the seats for the congregation to conform. The work is being done by members of the congregation with slight cost. It is believed the new arrangements will better suit the congregation and choir. KEEPS FRUIT FRESH To keep fruit fresh for months after it is picked an Argentinian has patented a device that holds the stem in water. PRE-Inventory Sale Starting Friday, Jan. 6, Closing Sat., Jan. 14 SPECIAL PRICE ON CORSETS plain coutil and fancy brocade in white and pink. Among them girdles, hip confiners and medium bust and long hip designs. 98c, $1.98, $2.98, $3.98, $4.98 BRASSIERES PRICED 48c, 98c and $1.48 E-FOURTH OFF pe de Chine Underwear. 25 PER CENT DISCOUNT on broken lines of Toilet Goods. WATCH OUR WINDOWS JUST ARRIVED A shipment of Silk Hole-Proof Hosiery of extra sizes with the rib top feature. WATCH OUR WINDOWS JUST ARRIVED A shipment of Silk Hole-Proof Hosiery of extra sizes with the rib top feature. Anaheim Corset Shop MRS. EDITH TAYLOR Enter Street ANAHEIM Condensed Statement of the American Savings Bank Members of the First National Bank) at the Close of Business Saturday, December 31, 1921. SCES $ 800,475.58 LIABILITIES Capital and Surplus ... $ 100,000.00 (Cash pledged by shareholders for the protection of depositors. This amount cannot be withdrawn.) Undivided Profits ... 5,717.34 (This represents additional funds by the stockholders for the protection of depositors as it is their desire to build here a strong bank.) Deposits ... 1,090,044.76 (This item represents the total amount of money on deposit in this bank by hundreds of persons, in Anaheim and vicinity. Practically all of this amount is on time deposit and draws interest at the rate of 4 per cent.) Deposits ... 1,090,044.76 (This item represents the total amount of money on deposit in this bank by hundreds of persons, in Anaheim and vicinity. Practically all of this amount is on time deposit and draws interest at the rate of 4 per cent.) $1,195,762.10 $1,195,762.10 ERS DIRECTORS President W. J. SIEMANN R, Vice-Pres. A. S. BRADFORD Vice-Pres. E. ZITZMANN Vice-Pres. S. C. HARTRANFT Cleri H. H. BENJAMIN SAMUEL KRAEMER $3,387,271.84 THIS ITEM, AS WE FEEL THAT A BANK IS A SEMI-PUBLIC UNITY WHERE LOCATED.