Newspapers / The Chatham Record (Pittsboro, … / Feb. 15, 1923, edition 1 / Page 2
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FACTS ABOUT INCOME TAXES. Information That is V aluable to Those Required to Make Returns. The revenue act of 1921 provides thdt an income tax return shall be filed by every person, married or sin gle, whose gross income for the year 1922 was $5,000 or more. Broadly speaking, gross income includes ah income received by the tax payer dur ing the year from salary or wages, or from “business, trade, porfession or vocation,” dealing in property, or the transaction of any business car ried on for profit. Net income, upon which the tax is assessed, is gross in come less certain specified deductions for business expenses, losses, bad debts, taxes, contributions, etc. Among the most important items in the returns of many taxpayers are the deductions for business expenses. In the case of a store keper, they in clude a reasonable allowance for sal aries paid employees, amounts spent for advertising, premiums, for insur ance against fire or other business losses, the cost of water, light, heat and fuel used in his place of business, drayage and freight bills. A professional man, doctor or law yer, may claim as deductions the,cost of supplies used in the practice of his profession, expenses paid in the operation and repair of an automobile used inmaking professional calls, dues to professional societies, sub scriptions to professional journals, of fice rent, and the cost of fuel, light heat and water used in his office, and the hire of assistants. The farmer may deduct all amounts paid in the production, harvesting and marketing and other expenses. WELL-KNOWN FARMER DEAD. Frank Jones Passes Away on Friday Night Near Siler City. Frank Jones, one of the best known and well to do farmers in Matthews township, died last Friday night at ten o’clock at his home four miles south of Siler City. Mr. Jones, who was in his sixty gecond year, had been ill for two weeks an his death was not unex pected to his relatives who were in constant atendance upon him. The deceased was never married but lived devotedly with his mother, the late Mrs. Emiline Jones, whose death oc curred six months ago, therefore he is the last of his immediate family. Surviving are five nephews and five nieces. The funeral services were held from Hope M. P. church at Bonlee Sunday at 2 o’clock and were conducted by Revs. Thos. Andrew and Richard S. Fountain. LOCALS DEFEAT GOLDSTON. Siler City high school defeated the Goldston high school last Friday on the local court in a rather spectacu lar game, the score being 31 to 27. Features of the game was the bril liant playing of Cheek for the visi tors and the excellent guarding of Durham for the home team. Line up was as follows: Siler City (31) Goldston (27) Small Cheek Right Forward Haden Wicker Left Forward Jordan Norman Center Ferguson Alexander Right Guard. Durham Goldston Left Guard. Siler City: Field goals—Small 2, Headen 8, Jordan 1, Durahm 2, Fer guson 1, Free tries 4. Goldston scoring: Field goals— Cheek 6, Wicker 4 free tries 7. DEATH FATHER MR. FOUNTAIN. Rev. Richard S. Fountain received a telegram Monday announcing the death of his father, who has been ill for several weeks at his home in Tarboro. Mr. Fountain and his fam ily left immediately in their car to attend the funeral which was held Tuesday morning at 10 o’clock. The Woman’s Missionary Society and the Deacons of the Baptist church at the place, of which Mr. Fountain is the beloved pastor, sent beautiful Hor&l designs and tokens of their esteem and sympathy. TRIP TO JONES AND ONSLOW. Dear Editor:—We herewith give you an account of our trip to Jones and Onslow counties. We camped in the swamps back from any road, about five mlies, then hunted and walked 5 miles through swamps and mud and water, some times two and a half feet deep, the path zigzagging every course, and sometimes through pine ridges of .the finest timber in North Carolina. Catfish lake is nine miles from White Oak River and has a rise or heighth at lake for river of 36 feet. This land if drained could be made to farm and would be as good as the best land in the state. The land is a black loam, sand underlaid with tough day. This land can be bought for $5.00 an acre, and it is covered' with the finest long leaf pine 40 feet to a limb. We drifted from Catfish Lake to Wallace Creek. Here we fished and trapped for three weeks, catching a lot of fine fur and eight hundred fish, averaging a pound and a half each. We caught these fish one night and one morning. We lived well on fish and game while in camp. One man—a boat fisheman, caught seven thousand pounds of herring and trout one night in gill nets, set in New River. People dowm there are getting ready for spring fishing for their sup port during the year. . It would raise the red blood in any sportsman to be there for the next well preserved as they ever were. On Wallace Creek Lotd Cornwallis <m his march from Wilmington to Virginia, built a bridge across tms creek and the cypress post tn put in for the bridge are as solid a well preserved as they ev€m the AT LAST A BIG COTTON MILL. Foolem & Co., of Boston Massachu settes, Promoters. There is to be a cotton mill estab lished here with 25,000 spindles. It is said that Foolem & Co., of Boston, Mass., have purchased all the land lying east if the railroad, south oi the depot, and are to commence in a few days to lay off a new town on their property. A two-story brick building 500 feet long and 200 feet in width will be erected in the center of the plat of land, and 400 frame dwellings are to be built on the squares or blocks. According to the es timate each house will contain at least five people, thereby increasing the population about 2,000. (Wouldn’t this be real good news were it true; but it is not, because there is no such cotton firm in Bos ton or elsewhere. However there is a good possibility of a cotton mill being brought here. The editor is in cor respondence with the development de partment of the Southern railway for the establishment of a cotton mill in Siler City, and with the Seaboard de velopment department for the estab lishment of a cotton mill in or near Pittsboro. When the proper time is at hand, it all will put forth the prop er energy and encouragement there is no doubt but that a mill can be se cured in both towns, and it is to be hoped that there will be no stumbling blocks, to say the least.—Ed.) GAMBLING WEAPON FOR GOOD 7 Whether or not gambling can some times be used as a weapon for good will be the question up for decision by those who go to see Frank Mayo in his latest Universal starring, “Caught Bluffing.” directed by Lam bert Hillyer at the Gem theater next Friday night, Saturday afternoon and Saturday night. The hero of the story which is laid in the Klondike during the mad rush for gold, is a gambler more honest than any man in all Alaska. In love with a girl, who evidently loves him but is hopelessly in the clutches of a crooked mining prospector, the gam bler offers to stake a fortune against her freedom in a hand of a card game. Edna Murphy plays the part of the girl, and is said to score brilliant ly in her difficult dramatic role. Large Mouth Called Good Sign* “She was simple enough to be sora* what apologetic about the largeness of her mouth, unaware that a man of ex perience flees from a small, rosebud mouth as from the devil, and that a large mouth Is the certain sign of good will and understanding in a woman.” “She went to the Wallace collection and saw how millionaires lived in the 70s and how the unchaste and lovely ladies were dressed for whom entire populations were sacrificed in the Sev enteenth and Eighteenth centuries. Thence to a cinema near the Marble arch, and saw how virtue infallibly wins after all.” —From “Lillian,” by Arnold Bennett IHAVEYOUR EYES EXAMINED j BY AN EXPERT—COSTS NO I MOil I'. 1 I Dr. J. C. Mann, the well known! eyesight Specialists and Optician j will be at Dr. Farrell’s office, Pitts-! boro, N. C., every fourth Tuesday! in each month. Headache relieved! when caused by eye strain. When* he fits you with glasses#you have! the satisfaction of knowng that! they are correct. Make a note of| the date and see him if your eyes! are weak. | His next visit will be Tuesday,! Feb. 27th. German Resentmcait Against French * This first and exclusive picture shows German resentment against 1 - ~ich invasion of the Ruhr, taken as thousands crowded the square around the Bismarck monument on King’s Pi:t e in Berlin. German pouee could not control the crowd width-was i . r ‘<l ro the point of demanding war. ' - u BRIEF, INTERESTING FACTS Figures and Historical Mention Os Interest* From Dearborn Independent. A 13-year-old Ogden, Utah, school boy has trained a wild cat to follow him to school each day. Perfumes, which still retained their scent after more than 3,000 years, were found in four alabaster vases in the tomb of King Tutankhamen in Egypt. For the first time in the history of Pennsylvania a woman was named a member of the governor’s cabinet. The position is Commissioner of Public Welfare. Three of every 10 persons living be tween Fiftieth and Twenty-eighth streets in New York City are drug addicts, according to a prominent phy sician formerly attached to the state narcotics division. Five caterpillar motor cars crossed the Sahara, traversing the 2,000 miles from Tugart, Algiers, on the north coast of Africa, in 21 days. It re quires at least three months for camels to make the same journey. Modern Turkish girls no longer live secluded lives. They are working in offices, some as bank clerks, some as bookkeepers. Many are studying medicine and electrical engineering and others are going in for agricul ture. All are preparing for careers of usefulness. The gannet, a bird living on fish in Northern Scotland is frequently caught by means of herrings tied to flat boards. The fisher bird sees the fish but does not notice the board. Diving from a great height it strikes its head against the plank, killing it self instantly. The Sahara Desert embraces more than 3,500,000 square miles, being nearly as large as the European main land. This desert is famous for its extensive trade in musk, gum, dates, alum, hides, spices, cotton, palm oil and ostrich feathers. It supports a population of 2,000,000. Sarong' Nerves You can’t be healthy, happy or even good when you’re nervous and irritable. Every organ of the body is controlled by the nerves. When they’re out of order you're liable to have a nervous or phy- . sicial break down. Dr. Miles’ Nervine soothes irritated nerves and gives nature a chance to restore them to their normal func tions. Sold at pre-war prices— sl.oo per bottle* r.o'ecules on Thnr Travels. Each molecule of the prases of th ulr in the house on a still day is trave’ :ng faster than a .rifle bullet and u turned from its course 5.000.000 O(X’ times every second by collisions with other > n fbn •»?“ 1 . V. IWst tfrldett price;* j % Who gets the best prices for his tobacco? Why, the farmer who brings in the best grades, of course. If you use high grade fertilizer intel ligently, you will not only make a bigger crop, but your tobacco will f be of a better grade than usual, and will mature earlier. There are just two things to re member in using fertilizer for making better grades; first, put your trust in a reliable, dependable old brand like Royster's; second, use enough to get the best returns. Os course, no brand is a substitute for good culti vation and care, and unless you are N the kind of farmer who gives his to bacco good farming brains, we’d just as soon you did not use Royster fertilizer. Royster’s tobacco fertilizer is a scientifically balanced food, made from the best materials obtainable in the whole world, and skillfully com pounded in just the right proportions to fill the requirements of the plant. It is not the cheapest fertilizer, but Norfolk Charlotte Richmond Washington Lynchburg Tar boro % ROYSTER Field lested Fertilizers \ * « % ■■■■ M. ■■■■■ M !■■■„ _ 1,-'-' ""I - ——«■■■■■■■■ —l __ (AUDITED BALANCE SHEET jt Citizens’ Bank and Trust Company, | SILER CITY, N.C. S JANUARY 1, 1923. * , S [RESOURCES. Current Resources: Cash in Bank $ 12,673.40 Due from Banks 28,681.87 Loans 1 493,182.81 Overdrafts 160.95 |H Total Current Resources $534,699.03 i Fixed Resources: Banking House & Fixtures—? 11,914.11 Other Real Estate 7,000.00 Total Fixed Resources $ 18,914.11 Total Resources $553,613.14 1 AUDITOR’S CERTIFICATE. §f We have audited and examined the books of The Citizens Bank and Trust Company H Siler City, N. C., as of January Ist, 1923, and have submitted to its officers a detailed Au- nj dit Report thereof, which is, in our opinion, properly drawn up so as to exhibit a correct view of the financial position of the Bank at the date named correct The Cash and Due from Banks was verified by actually counting the Cash ,and by rec- 5? onciliations with the various correspondent Banks. iftj The Loans were listed by name, due, date and amount, and are shown in detail in our vl Audit Report. Ml We considered the book value as set up to be a reasonable amount for the other Re- ftl Ijjj sources shown. Ifg All outstanding Liabilities were verified by the records of the Bank and found to agree M >«■' No further verification was practicable. * * * IJI '' ... XT ~ FREDERICK MOOLE, C. P. A. (S.G.) M Charlotte, N. C. ~ Os Scott, Chamley & Co. , Hts Jan. 26, 1923. . Certified Public Accountants. jjfjj Attest: KNOX W. HENRY, Office Examiner. v Upon the strength of the above statement and the backing of a strong Board of Direct- $1 ors, we continue to solicit your banking business, promising you every safeguard consist ent with sound banking. j|j MSS IK 1 111 COMPANY I | GULF, N. C_ - - - SILER CITY, N. C. | <.iici <i a mararon ir. wii <*h the vvinne v iMCO ynVds of the stuff > v of a mile ahead of his •) .. ' ' «-o »*«'••.fpgs with reluct ■*n more it is as closely priced as the quality of its contents allow. Nearly 40 years experience in the fertilization of to bacco guarantees the rare merit of Royster’s mixtures. Read this experience of a good tobacco farmer: “Two croppers had five acres each in the same field with nothing be tween but truck row. One of them used Royster’s and the other used fertilizer of another manufacturer; the land was prepared at the same time and in the same way; the same quantity of fertilizer per acre was used and put out the same day; plants were drawn from the same pits on the same day; "set out by the same planter and the hands; cul tivated alike; cured in the same barn by the same man; graded and sold by same parties. The tobacco grown with Royster’s fertilizer sold for $625.53 more than that grown with other fertilizer.” W. L. Matthews, Farmville, N. C. See that the famous old FSR trademark is on every bag. It is like sterling on silver. F. S. Royster Guano Company. Columbia Birmingham Macon Montgomery Atlanta LIABILITIES. gi To The Public: m Individual deposits 4 $168,562.86 m Certificates of deposit 275,165.73 1® Cashier’s Checks 3,000.47 w Total Liability to the public —5446,729.06 gSi nji To the Stockholders: ¥ Capital $ 75,000.00 m Surplus 7,000.00 . W Undivided Profits 5,566.58 (m Total liability to Stockholders ..$87,566.58 Reserves: |KJ| For unearned Discount $ 4,000.00 m For dividends 6,000.00 m Accrued Int’rs’t due depositors 8,000.00 W For taxes 1,317.50 m Total Reserves $ 19,3J7.50 (m ■ jm Total Liabilities $553,613.14 M ■«t • • -v .tsiom. The folklore of the primitive peo ple of West <Vntral Africa is full of wit. as the following show: “Mutual love is often better than natural broth erhood.” *Td rather be poor thaD a fool” /
The Chatham Record (Pittsboro, N.C.)
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Feb. 15, 1923, edition 1
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