Newspapers / The Perquimans Weekly (Hertford, … / Feb. 23, 1940, edition 1 / Page 7
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f - ' ' .if, f t THE M2SQTJIMANS WEEKLY, HERTFORD, X. C. FRIDAY, ' FEBRUARY 23, 1940 PAGE SEVEN v j Height Present conditions have pushed &tt much-abused and long-Bufferinff , t-n crop hade into the limelight thk i f r, says J, 0. - Bowell, ' extension ..v'omologist at State College, i Especially' In tobacco counties have growers Indicated, they plan, to plan! their Ml cotton 'acreage allotment For the past two years, North Caro lina has 'produced V unusually short crops of lint.' Since the Triple-A program states that farmer i may market all the I cotton they produce, on their alloted , acres, "every effort i should be made to get a good harvest, Rowell said, ( Before they can do this, the State '"Allege man pointed out, they must Itaje. steps" to control the ever-pres-and ever-deadly enemy of the i irdp the boll weevil. If a program - ofjpoisoning is started, in time and Yclssely adhered to, good yields may J "He expected. , Rowell said that cotton should be . planted as early as the season will permit. This is the first step in the fight against the weevil. Then, too, " varieties which will mature- thfl bolls gulckly should be used. The following varieties of 3-32 to 1 1-16 inch staple are recommended . for the different sections of the State: i Upper Coastal Plains Coker 100,1 j Mexican and Farm Relief. X. For the heavier soils of the lowei ' Coastal Plain: Coker 100 and Caro lina Foster. or -the Piedmont area: Mexican, CofetJlOO and Farm Relief. . Pre-squar . poisoning should be ' started as soon as the squares begin to form, or when the plant is 5 to 6 ' inches .high,, and before the squares "Tare large enough for the weevils to ncture. , ' After the squares form, a good program of dusting should be em ployed as a further control of this insect enemy. Tax Kens By FREDERICK B. HILL Certified Public Accountant Norfolk, Virginia It is the purpose of this column to " i present to the readers of The Per quimans Weekly a digest of the In ' jtfcome and Social Security (both Fed j!feral and Stile) tax laws, as Veil as -- the information relative to the Wage b and Hour law; both based upon the ' ; last regulations received, which will -" be presented as questions and ans- wers, a form which it is thought most suitable for conveying tax in ' formation. , Furthermore, it is the purpose of r. this column to invite questions from the readers of The Perquimans Weekly concerning features of the ; several ' tax laws mentioned that ' might apply to a particular case. "- nswers, which will be furnished in ,v subsequent issues, will be formulat ed arcording to the law, where so applicable, and opinions will be based ! . ; upon the latest information avail- i ' ' What Reductions are Allowable from j Income for Depreciation 7 I A reasonable allowance for the " ' exhaustion, wear and tear, and ob I ', solescence of property used in the ! r 'i trade or business may be deducted ' from srross income; but, does not in . elude inventories: on stock in trade, ' or to land apart front the impreve- "ments or physical development added to it The proper-allowance for such de vlbreciation is that amount which Jhoulld be set aside for the taxable . year, in accordance with a reasonably consistent plan (but not necessarily 1 At' a uniform rate) whereby the ag- "1 srreeate of tl.ii amounts so set aside, plus the' salvaitte value, wilh at the . entf of the useful, life of the proper ty equal the cost . For example: A , 's machine used, in the business or pro fession of a" taxpayer cost $1,000.00, . and is estimated to have? a useful 'life of ten years-.(usually based on experience) and a' salvage value, at the end - of $100.00.- The -deduction . for depreciation' would be $$0.0(Tper year for ten years, computet - as r- follows: Cost $1,000.00, less salvage value of $100.00 equals $900.00, the . depreciable Cost, divided by ten gives an annual deduction of $90.00. : If.no Rnllvao-a value 4a considered the an "i nual depreciation charge '.'would be $100.00. . .- - - i . Depredation' is treated as an or linirv and Tiftceaearv expense in the tf operation f a business or profession A lor income producing .'property, and . hnnM be carefully considered when preparing the tax return.- The sche- r . . . - . 1 U V - .fill duJe In the1 tax return anuiuu u aui ed in completely and full information fnr in the instructions given.' ' Intangible property, , the use .of vhich in the trade or business I de f trflv limited in duration, may he i..ivt of . a depreciation .allow . ,., - - , a: d f rYomniM are patents ana cow . l'tioM und franchises. 'No L'on for depreciation is allow 'i r-T-ct f good will, . , Te rmers ' i3 i.:(.:.::'J-3 is the Eeturrof ar Farmer? - '. A fajrmer reporting' on the receipt and dispnrsement basis (in, which no inventory is used) - shall ..include in his gross income for the 4 taxable year: (1) the amount of cash or the value of the merchandise or the othei property received fronvr- the Sale of live stock and produce -which were raised durihg the taxable : or rprior years, (2): the profits from the sale of live stock or other items purchas ed and (8) gross ; income from all other sources. The profit from the sale of live stock or other items is ascertained by deducting the cost from the sales price in the year in which the sale occurs. The profit from the sale of animals purchased for draft or work Animals, etc., and not for resale is the excess of the amount of the sales price over the amount of the cost, less the depre ciation previously allowed, The gross profits of a farmer re porting on the sccrual basis (in which the profits are determined by the use of an inventory) are ascer tained by adding to the inventory value of live stock and products on hand at the end of the year the amount received from the sale of live stock, products, etc., and deducting from this sum the inventory value 1 live stock and products on hand at the beginning of the year and the cost of livestock and products pur chased during the year, Live stock acquired for draft, breeding and dairy purposes and not for sale may be included in the inventory at the beginning and end of the year, in stead of being treated as Capital Assets subject to depreciation, pro vided such practice is consistently followed. If farm produce is exchanged for merchandise, groceries, or the like, the market value of the article re ceived in exchange should be included in the gross income. What Deductions are Allowed in the Return of a Farmer? If the farm is operated for profit deduction may be made as necessary expenses all amounts actually ex pended in carrying on the business of farming. The cost of small tools of short life, such as shovels, rakes, etc., may be deducted. Actual ex penditures for feeding and raising live stock, but not including the value of farm produce grown upon the farm or the labor of the taxpayer. The cost of farm machinery, equip ment, farm buildings, and amounts expended for the purchase of work, breeding or dairy animals, represent a capital investment and are there fore, not deductible items. A rea sonable amount, however, may be de ducted from income for depreciation, based on the useful life of the prop erty. If, as in the case of a farmer who reports on an accrual basis, and animals, such as above mentioned are included in the inventories at the beginning and end of the taxable year at their then values, no depre ciation may be written off. Farm income and expense should be reported on form 1040 F, and at tached to the regular income tax return. School Busses Still Not Making Schedule County roads are still far from being in tip-top condition. Only seven of the county's four teen school busses had arrived when schools opened Monday morning. The other seven reached their schools sometime before noon after mechan ics went out to pull them from mud dy roads. WOO0VILLE NEWS Misses Mary Burgess Layden and Ethel Lane were guests of Miss Juanita White on Hertford Highway. Friday afternoon. Miss Juanita White and Heywood White 'went to Norfolk General Hos pital on Tuesday to bring home Mrs. Heywood White and her little daugh ter, Margaret Elvira. Miss Juanita White was the guest of Mrs. Roy Hurdle in Elizabeth City on Friday night. Mrs. Roy : Hurdle and daughter, Anne, of Elizabeth City, were guests of her parents, Mr. and Mrs. Demp sey White, a few days last week. Mr. and Mrs, Wilton Pierce and sons, ? Wayne and Anthony, of Ahos kie, were week-end guests of Mr. and IJ. ..Tolaf. 4 , sit. .and, Mrs. Garland Humphries, of Moyock; Mrs. George-Poole, of Weeksville, and Mrs. C. fABogte were Saturday -f guests of Mr. and Mrs. J, B. Humphries. ,. " ' ;.?: Miss Beulah Bogue was the guest of Miss Operzine Cooke Sunday ;: A Marguerite ' and Frances ? Anne Cooke were guests of Mildred Bogue Sunday. - Miss Hazel . Matthews has been the guest of .Mrs W.H. Matthews for the pst week. ' ' J I,' :.j Richard Whedbee, of the New Jer sey Coast Guard, is the guest of his mother, Mrs. M. M. Whedbee. v.. Yn Mrs. C. D. Spivey and little daugh ter, Edith Rachel, ' and Mrs, R. K Spivey, Jr., of White Hat, were the guests of Mr, and; Mrs. H. E. Bogue Friday.- . ' ' ' , . i Richard Whedbee, v of New; Jersey, and Exum Whedbee were guests of Mr. and Mrs. II. EL. Bogue Monday. Miss Mary . Clagon, Haskett, of CxadJotk, Va., and C her aunt j were guests of W. E." Bogus one day last .,i, . SincaiG32 town's? O'ilost Business ,7 - ; f - First lit a Series of "Re viewing Hertford Businesses"; Started At Small's X Roads It is appropriate to begin thus series with the oldest business in the county, discounting the business of farming, so the store of J. C. Blanchard and Company naturally is the logical starting place. It was in the year 1832, when Andrew Jackson was president of the United States, that a young North Carolinian began his career as a merchant, little suspecting that he was laying the foundation of a busi-ness-wtjiat would endure for more thanWfull century. This young man was William Rawls Blanchard, a native of Gates County and a descendant of a family that had already been settled in that section for more than p. century. His great-great-grandfather, Benjamin Blanchard, moved to North Carolina from NnnMmnnd P-nimtv in Virrii I about 1701. More than the county's oldest busi ness, Blanchard's is also one of the county's largest. The handsome big building on Church Street next to the courthouse square had its be ginning in the little country store in Chowan County which W. R. Blanch ard opened about ten miles south of his birthplace at a place called Small's Cross Roads. The next location of the century old business was at Nixon's Bridge, about three miles up the river from Hertford, five years later. Nixon's Bridge was a shipping center for small sailing vessels. Much of the trading in those days between New England and the West Indies passed through the hands of the Blanchard firm. The business moved to Hertford after the war, in 1866, not to its present location, but to a location on Church Street between Grubb Street and Punch Alley. In the ear ly seventies it was moved to a larger building on the comer of Church and Grubb Streets. Fire drove the business from this location to its present one in 1879. The present building was erected in 1909, chiefly through the persuasion of J. C. Blanchard, who had started jn the business with his entry as a clerk in 1901. So, the little cross roads store grew up . . , into the big business it is now, a hundred and eight year later. Extensive alterations have been made in the past few years, greatlj improving the interior and affording better facilities for serving its in creasing number of patrons. Quoting from the Bridge Opening Edition of The Perquimans Weekly, "It is not without reason that an establishment of this sort has lived and expanded for over a hundred years. Chance may have played a part, but it could hardly have sur vived so long had it not maintained the high standards of business con duct established by its founder and won the confidence and approval of the community it serves." Meetings To Be Held For Boys and Girls There will be a meeting at the Winfall Grammar School on Thurs day night, February 22, and at the Community House in Belvidere on Friday night, February 23. All boys and girls, who are not in school, re gardless of whether or not you have graduated, dropped out, married, or what have you, you are asked to at tend the meeting that is nearest you. These meetings will be conducted by the Departments of Vocational Agri culture and Home Economics of the Perquimans County High School, and promise to be interesting and pro fitable. BURGESS NEWS , Mr. and Mrs. Ben Parkerf Roa ,noke Rapids, were week-end guests of Mr. and Mrs, C. B.' Parker. t- Alton Matthews, of t Norfolk; Va, spent Sunday. with. his parents, Mr and Mrs. S. Pt Matthews. ' Mr. and Mrs, ' Bob : Spivey speni Tuesday and Wednesday with Mr and Mrs. N. C. Spivey. Mr. and Mrs. C. B. Parker had as tpeir guests at a delightful dinner on Sunday Mr. and Mrs.-J. B. Basnight. George Parker, Mr.' and Mrs. N. C. Spivey and Mr. And. Mrs. Ben Parker , Neil SpruiH js confined to his home near Burgess with a severe attack of flu, - V , . Tr." j THE WEATHER Middletown, N. Y, While attempt ing to thaw out a froien 20,000-gal Ion 'railroad water-tankji -workmen ac cidentally set fire to the supporting Structure. Firemen wer helpless be cause the nearby hydrant was frozen. By the time the" hydrant wis thawed, the hese nozzles were frozen,. Fire men finally' extinguished.- the blaze, but .the tank, remained frozen, Funeral Services Held For Mrs. Etheridge i Funeral services were held at the graveside in Cedar Grove Cemetery Sunday afternoon for Mrs. Susan Godwin Etheridge, 82, who died in Charlotte early Saturday morning. Mrs. Etheridge was an aunt of Archie Godwin, of the Belvidere Road, and had been living in Char lotte with her niece, Mrs. W. M. Miller, and Mr. Miller. The Reverend J. O. Cranford, of Winfall, officiated, and pallbearers were Lindsey Godwin, Archie God win, W. M. Miller, Durward Barber and Selwin Godwin. Edenton Man Takes Over Gulf Station The Gulf Service Station, formerly operated by Hudson Butler, has changed hands. Zack Robertson, formerly of Edenton, has taken ovei the management of the station at the corner of Dobb and Church Streets, U. S. Highway 17 through Edenton. Mr. Robertson was formerly with G. C. Hobbs Gulf Station in Edenton, and at the Triangle Filling Station in Edenton. His wife and their two children have moved to Hertford with him. fnnv Pnfitn Cviwvafa iny trOldlO lirOWerS View Unique Exhibit Moving swiftly last week through the commercial Irish potato sections, North Carolina's first potato exhibit train of production-marketing spec ialists showed to many farmers in e concerted campaign to reclaim lost markets and establish greater appre ciation of Tar Heel "spuds." Chief Traffic Officer J. F. Dalton of the Norfolk Southern Railroad, satisfied with the contribution of the train and crew in the coordinated potato rehabilitation program, said that plans would be made to continue the project next season. Motion pictures, talks and ex hibits on better growing and market ing methods, were presented by spec ialists of the federal and State De- COOK DINNER with "PYROFAX" GAS AUTOMATICI Two cylinder, of "Pyrohx" gat (guaranteed to contain 100 lbs. each) an delivered to you home one for we, one lot reserve. Automatic changeover device, available for alight additional ioatallation charge, turnt on supply from reserve cylinder as soon at cylinde der in use becomes empty. Makes country kitchens V to. town" You can actually cook the average family dinner heaviest meal of the day for about 3c in the aver age size home . , . with "Pyrofax" Gas Service 1 That's only one rea son why home owners beyond the gas maim are swinging to "Pyrofax" Gat Service. "Pyrofax" gat regulating equip ment is delivered and installed at your home for only $9.75. The new Modem Magic Chef ranges for use with "Pyrofax" gas are clean, fasti economical, and are available through us on conveni ent time payments. Most important, your supply of "Pyrofax"-' Gas is guaranteed m writing by Carbide and Carbon Chemicals Corporation. Be posi tive .... get "PYROFAX" Gat Service I t TXR0FAX It DEPENDABLE OAS SfftVfCl Ct Btatt Wmm Mate Ir At Hnm 07tw4 Tin Gm Ma. Albemarle Natural ' ' Gas. Company : :T s Jacob Hobowsky, Manager " , EDENTON, N. C partments of Agriculture and State College Extension Service, co-sponsoring the train with the Norfolk Southern, Freight Containers Bu reau and State Produce Growers Co operative. "Careless marketing and handling methods cost the state's commercial potato growers a million dollars last season," Buxton White of the State Department of Agriculture, told growers. L. P. Watson, State College Ex tension service specialist, emphasized the need for using "good seed, cer tified in all cases" and urged grow ers to adopt more modern fertilizer application methods. John A. Gannaway, associate mar keting specialist of the AAA, also Everybody knows that once upon a time, "45" meant the blue-steel authority holstered on the law's hip to back up his badge. Today, 45 has a new meaning in North Caro-, lina. In only nine months of operation the Brewers and North Carolina Beer Distributor Committee has cooperated with county and local authorities in bringing about the revocation of legal beer licenses in 45 places where laws wero being violated. We don't want beer sold that way! A That's help for the law, too but a modern kind of help. It is help for North Carolinians the aid of a united beer industry in preserving the economic and social benefits of a moderate bev erage providing $1,410,668 annually in tax revenue. Brewers and North Carolina Beer Distributors Committee EDGAR H. BAIN, SUITE R13-17 COMMERCIAL BUILDING RALEIGH, LET US REPAIR WHITE'S SHOE REPAIR SHOP COURT HOUSE SQUARE, HERTFORD, N. C. ft Zx 11 ,e57 J ar FarmeD Friends: FOR BETTER YIELDS FROM YOUR FIELDS Use SCO-CO Fertilizers I There Is a SCO-CO Fertilizer For Every Crop Manufactured By The Southern Hertford; N. c. o told growers that "poor marketing: and handling of potatoes cost grow ers from 15 to 20 per cent of their profits last year." Grading machinery, potato disease, container and labeling exhibits on the train attracted grower's interests in particular. WHAT CAUSES UNHAPPY MARRIAGES A thought-provoking article on a timely subject. Don't miss this fea ture in the March 3rd issue of The American Weekly Distributed Every Sunday With The Baltimore American On sale at all newsstands State Director ,. K C. jj YOUR SHOES Modern Methods Best of Materials Reasonable Prices ALL WORK GUARANTEED WHERE EVERYBODY MEETS SOONER OR LATER Candies Sandwiches Fountain Service Patent Medicine WALKER'S I DIAL 2201 Cotton Oil Co.
The Perquimans Weekly (Hertford, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 23, 1940, edition 1
7
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