The
Bank of Seward
will be closed all day
Monday, Feb. 23
Washington’s Birthday
CARELESS PERSONS
* WARNED TO STUDY
INCOME TAX LAWS
WASHINGTON, Feb. 20.—You will
probably pay too much income tax this
year if you do not read this article.
Thousands of dollars of excess pay
ments of income tax have been paid
since January 1, the internal revenue
bureau says, because the taxpayers
are not taking advantage of one of
the most important tax reductions
made by congress last year and ef
fective this year for the first time.
Most taxpayers notice that the nor
mal rates for small incomes are much
lower than last year, and pay accord
ingly.
But they don’t notice this:
“Earned income, according to the
new law includes “wages, salaries,
professional fees and other amounts
received as compensation for services
actually rendered.”
All net income for 1924 up to the
sum of $5000 is regarded as “earned
net income,” for the purpose of mak
ing this 25 per cent reduction.
The total of earned net income how-1
ever, can be as high as $10,000 but no
higher.
For example, a taxpayer who receiv- j
ed S2.000 in salary and $3,000 profit
from a real estate deal is entitled to
count it as “earned income,” and pay
three-fourths of the tax on it. A tax
payer who gets a salary of $10,000 is
entitled likewise to deduct 25 per cent.
A taxpayer with a salary of $5000 and
a real estate deal profit of $5,000, how
ever is entitled to the deduction of
$5,000 of salary. A taxpayer whose
net salary income for 1925 was $15,000
can deduct the credit on the tax on
only $10,000.
The personal example and deduc
tions for dependents are taken out of
the income before arriving at the net
income on which the tax and in many
cases the 25 per cent reduction is de
cided.
Another relief for business men
provided in the new tax law is being
disregarded by many returns, the tax
collectors say. This is as follows:
‘‘A taxpayer who is operating a busi
ness in which both personal service
and capital are material income pro
ducing factors, is entitled to a reason
able allowance as compensation for
personal services actually rendered,
which amount shall be considered as
earned net income. This amount shall
not exceed 20 per cent of his share
of the net profits of such trade or bus
iness and in no case can he consider
any amount over $10,000 as net in
come.
On this earned net income the busi
ness man is entitled to deduct 25 per
cent of the taxes due. If the share of
20 per cent of his profits amounts to
$10,000 or less, the taxpayer may con
sider the entire amount earned in
come.
SIDNEY B. LEWIS, OF
CLEAR LAKE, MAY BE
REGENT OF UNIVERSITY
SEATTLE, Wn„ Feb. 20.—Sidney
B. Lewis, superintendent of the Clear
Lake Lumber company, of Clear
Lake, is to be appointed a member
of the board of regents of the Uni
versity of Washington by Governor
Roland H. Hartley, according to re
ports circulated today. Sidney Lew
is is a son of B. R. Lewis, of Seat
tle, and Clear Lake, manager of the
company.
DATES FOR NORTHWEST
FAIRS SET AT MEETING;
OFFICERS ARE ELECTED
ABERDEEN, Feb. 20.—S. K. Bowles
of Aberdeen was elected president of
the North Pacific Fair association at
the close of the annual convention
held here last week. Robert Pryor, of
Yakima, wra3 elected vice-president;
H. C. Brown, of Portland, secretary
treasurer. Vanconver, B. C., wTas cho
sen for the 1926 convention-city. Six
ty-five lair officials and horsemen of
Washington, Oregon and British Col
umbia, placed fair dates as follows:
Gresham, Ore., August 3; Vancou
ver, B. C., August 8 to 18; Victoria,
B. C. and Burlington, Wash., August
17 to 22; Southwest Washington Fair,
Centralia, August 24 to 29; New West
minster, B. G., and Spokane, Septem
ber 7; Yakima and Medford, Ore.,
Sept. 14; Puyallup. Sept. 21; Eugene,
Ore., Sept. 22 to 25; Oregon State Fair
at Salem .Sept. 28 to Oct. 3.
JGREEK MEETS GREEK
MORE THAN HALF WAY
EMPORIA, Kansas, Feb. 20—A mod
ern Damon and Pythias are Fay Fous
ton and his brother, Greek cafe own
ers of Newton.
When Fay was arrested and his car
seized in a liquor case, his brother
appeared before a judge of the district
court and offered to serve the sen
tence. He said Fay was needed at
home by his wife and family.
Six months in jail was the sentence
passed upon the Greek and his sub
stitute was not accepted.
GERMANY BEHIND U. S. IN CARS
BERLIN—There are eighty times
as many automobiles per capita in
the United States as there are in
Germany, according to A. E. Dun
ning, secretary of the American
COPYRIGHT KEYSTONE VIEW CO.. NEW YORK
INVESTIGATES BASEBALL
SCANDAL
District Attorney Banton, who is
now investigating the Dolan-O’Con
nel baseball scandal.
HERE NOW
-1925
NEW SPRING AND SUMMER
SUIT SAMPLES
A FIT GUARANTEED
LOW PRICES HIGH QUALITY
Leon Urbach
»
Chamber of Commerce in Berlin.
Dunning brought out these figures
to prove the United States auto
makers have a big future in Europe.
IMMIGRANTS BEING LURED
TO HOLLYWOOD BY MOVIES
HOLLYWOOD. Cal., Feb. 20.—The
motion picture studio lure which an
nually entices to Hollywood thousands
of persons of all ages, each nursing
hope of a screen career, is not confined
to the United States, but has spread
to other parts of the world, according
to James McPherson, chief inspector
of the Ellas island immigration sta
tion in New York. He has been visit
ing here.
Two questions, “How far is it to
Hollywood?” and “How can I get into
the movies?” are asked constantly by
immigrants entering into the United
States through Ellis Island, McPher
son said.
“Whether they come from Poland.
Italy, Germany or France, they seem
to have heard of the wealth and fame
earned by those who have succeeded
in the picture producing business.”
married under guard
LONDON.—A cordon of police sur
rounded the registry office here re
cently to prevent John Harrison’s
prospective mother-in-law from stop
ping his wedding. The solemn quiet
of the marriage ceremony was brok
en by the screaming and weeping of
the angry woman in an outside cor
ridor.
HE’S WELL PIPED
LONDON.—Carl Homer is the
owner of 5,360 pipes and has smoked
each one of them! His collection of
pipes is believed to be without ques
tion the largest in the w'orld. Some
of the pipes date back to remote
days in Chinese history. One of his
most favored pipes is that which was
once in the possession of Sir Walter
Raleigh.
Join the Chamber of commerce.
Snowr Shoes, $9.50 per pair, at
Graef’s. tf
Eaton, Crane, Pike Stationery at
the Alaska Shop. tf
*1
METHODIST CHURCH SERVICE
SUNDAY, FEBRUARY 22,1925
Sermon Subject, “DOING WHAT WE CAN.”
The service at the Methodist Church Sunday evening will be in the
nature of a memorial to Fanny Crosby, the blind hymn writer. We
will use her hymns and the pastor will have something to say about
her life and work.
YOU WILL BE MADE WELCOME
FRESH VEGETABLES
received on every boat
CELERY, GRAPES, LETTUCE,
JAP ORANGES, FRUITS, NUTS,
CANNED GOODS, FISHERMEN’S
SUPPLIES, BOOTS,
AND RUBBER CLOTHING
SEWARD TRADING COMPANY
TELEPHONE MAIN 135
Prompt Delivery
f *
Ford Touring Car
DEMOUNTABLE RIMS, SELF STARTER, FULLY EQUIPPED
STARTING JANUARY 3, 1925
You will receive one coupon with every dollar purchase,
which entitles you to one chance on a late model, new
FORD TOURING CAR
No employe of our store is allowed to participate
in this drawing in any way, shape or manner
START YOUR BUYING TODAY
SEWARD TRADING CO.
Staple and Fancy Groceries
CHAS. TECKLENBERG
Phone Main 135