Published every Friday at Kadiak, Alaska
Yearly Subscription Rate $7.00
Second class mail privileges authorized at Kodiak, Alaska
Send notices of undeliver able copies to:
THE ISLA1ND PUBLISHING COMPANY
Box 1807, Kodiak. Alaska
ACKNOWLEDGEMENT AND CORRECTION
We are indeed gratified at the
response to last weeks historical
edition. We wish to thank the read
ers who were so kind as to tell us
how much they enjoyed it.
But in our turn we wish to ack
nowledge the assistance we re
ceived from so many people. In
particular, our thanks to Mrs. Eu
nice Neseth for her splendid article
on Robert Von Scheele; to our old
friend Bill Worth; to Wilson F.
Erskine; to Norman’s Photo shop
for the picture of Mr. and Mrs.
Naughton; to Alf Madsen for pho
tos; Andy Peterson, photos; and to
all the others who supplied data
for articles in the edition.
One correction we wish to make.
The photo on the first page of the
historical section was labeled “Ko
diak 1941”. This is a later photo.
Reflections
(continued from page 1)
caught. Improved handling and re
frigeration methods on fishing
boats and better processing and
storage techniques were examined
at a recent Washington meeting of
the International Conference of
Fish Nutrition.
* * *
Deliver us from this. In addition
to the Federal government and 33
states, 1,175 municipalities tax
personal incomes.
* * *
There’s a “Churkey” in a Belts
ville, Md., laboratory: the fowl is
the only cross between a chicken
and a turkey known to be alive
in the world today.
The Business Mans
Corner
By EUGENE ANTHONY
A chart of accounts for each busi
ness will vary, depending upon the
type of transactions, statement and
analytical requirements, or re
quirements of various regulatory
governments.
First, these requirements are set
forth and then grouped; assets, lia
bilities, net worth, income and ex
pense. Asset and liabiliy accounts
are further grouped as (1) current
or short term and (2) noncurrent,
long term, or fixed items.
Current assets is a term used to
designate cash and other assets
or resources as those which are
reasonably expected (to be realized
in cash or sold or consumed during
the normal operating cycle of the
business:
(a) Cash available for current
operations and items which
are the equivalent of cash.
(b) Inventories of merchandise,
raw materials, goods in pro
cess, finished goods, and op
erating supplies.
(c) Receivables, if collectible
within a year.
(d) Marketable securities rep
resenting available cash for
current operations.
(e) Prepaid expenses. These are
not current assets in a sense
that they will be converted
into cash, however, if not
paid in advance, they would
require the use of current
assets during the operating
cycle.
A one year period is to be used
as a basis for current asset classifi
cation in those instances where the
average operating cycle is less than
twelve months; but where the op
erating cycle exceeds twelve
months, the longer period is used.
Current assets are normally
listed on the balance sheet in the
order of liquidity. These assets,
with the exception of inventories
and marketable securities, are us
ually reported at their estimated
realizable values. Thus, current re
ceivable balances are reduced by
allowances for estimated bad debts.
Both inventories and marketable
securities may be reported at cost
or on the basis of “cost or market,,
whichever is lower.”
Few problems are generally
found in the valuation of current
liabilities. NEXT — More about
classification of accounts.
1 Do All Your Christmas Shopping Here
Remember — You Can Find Anything You Need
AT
KNUDSEN’S OUTFITTERS
YOUR HEADQUARTERS FOR SHOES
AND CLOTHING NEEDS
Legal Notice
IN THE SUPERIOR COURT
FOR THE STATE OF ALASKA
THIRD JUDICIAL DIVISION
IN THE MATTER OF THE )
ESTATE )
)
of )
)
E. LEE DEFFENBAUGH, )
)
Deceased. )
)
-)
NO. 61-316 (P)
NOTICE TO CREDITORS
NOTICE IS HEREBY GIVEN
that the undersigned, Dora G. Def
fenbaugh, was on the 31st day of
October, 1961, appointed Adminis
tratrix of the estate of E. Lee Def
fenbaugh, deceased; and that she
thereupon qualified as such Ad
ministratrix in the manner re
quired by law, and all creditors of,
and persons having claims against
said decedent are hereby required
to present their claims, with the
necessary vouchers, within six
months from the date hereof, to
the undersigned Administratrix in
care of her attorney, John S. Man
suy, Jr., P. 0. Box 947, Kodiak,
Alaska, which office is hereby des
ignated as her place of business in
all matters connected with the ad
ministration of said estate.
DATED at Kodiak, Alaska, this
16th day of November, 1961.
(s) Dora G. Deffenbaugh,
Administratrix of the estate
of E. Lee Deffenbaugh,
Deceased.
Publish: November 17, 24,
December 1, 8, 1961
Legal Notice
IN THE SUPERIOR COURT FOR
THE STATE OF ALASKA
THIRD JUDICIAL DIVISION
IN THE MATTER OF THE )
ESTATE )
)
of )
)
ERNEST P. GRAVES, )
)
Deceased. )
)
NO. 61-312 (P)
NOTICE TO CREDITORS
NOTICE IS HEREBY GIVEN
that the undersigned, Irene Graves, '
was on the 31st day of October,
1961, by an order of the above-en
titled Court, appointed Administra
trix of the estate of Ernest P.
Graves deceased; and that she
thereupon qualified as such Ad
ministratrix in the manner re
quired by law, and all creditors of,
and persons having claims against
said decedent are hereby required
to present their claims, with the
necessary vouchers, within six
months from the date hereof, to
the undersigned Administratrix in
care of her attorney, John S. Man
suy, Jr., P. O. Box 947, Kodiak,
Alaska, which office is hereby des
ignated as her place of business in
all matters connected with the ad
ministration of said estate.
DATED at Kodiak, Alaska, this
17th day of November, 1961.
Irene Graves,
Administratrix of the estate of
Ernest P. Graves, Deceased.
Jublish: November 24,
December 1, 8, and 15th.
NOTICE
The Base Typewriter Shop
will be closed December 18th
through December 28th. Leave
your calls with the Electronic
Secretary.
We Will See You
After We Re-open On The 28th.
KODIAK
OFFICE EQUIPMENT
INC.
SANTA HAS HIS PLEASANT moments, too, as you can see as he
has a pretty miss sitting on his knee. Deborah Ann Hester seems
pleased, too. She was one of hundreds who visited Santaland at
D & A’s last Saturday afternoon. She is the daughter of Edna and Joe
Hester, and was born in Kodiak. Photo by Ameigh
i A 6ift S»Kes«»» .1
1 ople tell us they are sending the greeting- j
l Friends who hved here in 1
1 eni°yit ■ still available at Knudsens and Wodlmg I
1 C°atetheKodiak Mirror. 1
Mailed Anywhere in T 1
United States or Can ^ 1
| REGULAR MAIL .45c 1
Special I
CANS I
lucky IRRER bottles 1
$1.45 6-pK. I
Room Temp. I
christMaTspec* al 1
SEAGRAM 7 CROWH I
GIFT BOXED FOE HOLIDAY GIVING I
513.30 FuU V/2.©al,on 1
LOW PRICES EVERY RAY 1
WE SELL FOE LESS-™ SELL FOE CASH t
MECCA LIQUOR STORE 1
Phone 486-2446 1
. Glasses For That Special Occasion. I
NMd Glasses ijs ^ you_J