THE NEWARK JOURNAL
PUBLISHED WEEKLY
By The Journal Printing Company
Entered at the Postoffice at Newark
Ark., as second class mail
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DOLLARS AND DUCKS
It is well for young men to know
that dollars are like ducks—one fol
ows another—and though they may
waddle along slowly and with some
effort, they will eventually get there.
We have young men in this com
munity who are just starling out on
the road of ife, but where that road
will lead is for them to say.
They are earning a few dollars now
and as time progresses their earning
capacity will increase. If the early
accumulations are thrown to the birds
it is more than likely that in later
years the buzzards will roost on the
graves of their ambition.
But if their first dollars are care
fully taken care of, and this lesson
of thrift and frugality is fostered
and encouraged, then in time the
bank will become the depository of
their earnings and accumulations and
eventual wealth, and the eagle will
soar over the heads of successful men.
Those who waste today will squan
der tomorrow, and tomorrow is the
agent of the devil.
Keep an eye on the young men of
this community, but keep both eyes
on those who spend wisely but not
foolishly, who are full of life and
gingre but never carry it to excess,
whose eyes are fixed upon the eagle
and not upon the buzzard.
Like the waddling duck, they may
advance slowly, but they will get
there in time.
Conditions and prospects in the
principal countries of the world justi
fy the statement that for the staple
food products grown in the United
States there will prevail for some
time a strong demand and that prices
will probably continue steady and at
a high level. The cotton farmer es
pecially should note that during the
period of production of the 1919 crop,
prices of food and feed will probably
continue at a high level. Can a cot
ton farmer afford to grow all cotton
on the basis of high cost and be forc
ed to sell in the fall on the basis of
a lower level of prices?
The man who exerts the greatest
influence for the building of good
highways will exert the greatest in
fluence in shaping the destiny for
good of unnumbered millions, and
moulding the spiritual, the education
al and the material life of the nation.
—Manufacturers’ Record.
When all those nineteen candidates
for Governor get out to campaigning
the state, how are they going t(
keep from bumping into each other?
Hey! Somebody call a doctor,
there’s something wrong with this
fellow! ! Win. J. Graham, of Chica
go, deputy county comptroller of
Cook county, lillinois, has refused to
accept a $900 increase in his salary,
because, he says, the county needs the
money. If Graham survives, he ought
to be placed in a glass cage and put
on exhibition.
Poultry raising on the farm is no
longer “little things.” The time has
come when poultry is one of the most
profitable products of the farm. With
common old hens selling at $1 to $2
apiece, there is bound to be money in
a; ing chickens. There ought to be
more poultry raised on every farm in
! Independence county.
The seed of Bolshevism cannot
grow in a community of home own
ers, prosperous businesses, productive
farms, contented labor and happy
school children.
There wasn't much profiteering in
! the days when we all wore home-knit
! socks, and when Johnnie’s pants
; were made from a pair of father’s
old ones.
Where tha hek do all the Armeni
ans come from? Every time we
pick up a daily paper we see where
40,000 Armenians have been massa
creed.
Every country in the world seems
to be thoroughly convinced that it is
the duty of all other nations to settle
down to work and increase produc
tion.
START DRILLING FOR OIL
TO TUNE OF i/RASS BAND
Bald Knob, March I.—A parade of
the largest crowd of out-of-town peo
ple ever seen in Bald Knob, led by the
Bald Knob band, left town promptly
at noon for the location of the well
of the Bald Knob Production Com
pany, one mile from town, where an
old fashioned barbecue dinner was
served the crowd, after which inter
esting talks were made by Judge De
Bois of Searcy, Judge Pearce and At
torney Moore of Bald Knob and Hen
ry Patterson of Searcy.
Promptly at 2 o’clock the drill
started toward what is hoped to be
the largest oil field in the South, the
veork being in charge of W. W. May.
an experienced driller from the Okla
homa fields. All the business houses
were cosed from 11:30 a. m. to 3 p.
m. to allow their employes to wit
ness the event.
PRESBYTERIANS ISSUE
CALL FOR CONFERENCE
Little Rock, March 1.—A call was
issued today for a meeting of all
Presbyterian pastors in Arkansas in
Little Rock Macrh 12. The object of
the meeting is to consider the pro
gressive campaign recently launched
; The meeting will be held in connec
tion with the interchurch pastor’s
conference in the city March 10-12.
m
See The Journal for first class job
; printing.
100,000 Satisfied Users
Satisfactory perform
ANCE—that’s the secret hack
of Delco-Light success. Just
a little over four years ago Delco- j
Light was almost unknown. Today
you may accept the verdict of more !
than /oo,ooo satisfied users as your •
assurance that Delco-Light will live
up to your expectations in giving
complete and dependable electric
service—electricity for light and
electricity for power.
Send today for catalog, prices and further
interesting details
J. R. HEASLEY
DEALER
CALICO ROCK, ARKANSAS
There*s a Satisfied User near you
FARMER'S INCOME
SUBJECHO TAX
Gair-s for 1919 Must Be Figured
Under U. S. Law—Returns
Due March 15.
LAND SALE PROFITS TAXABLE.
Necessary Farm Expenses May Be
Deducted—Special Form for Farm
Income—Cash or Accrual
Basis for Computing.
A fnrmer, shopkeeper, or tradesman
must figure up his net income for 1919;
and if the farm or business Income
plus his other income was sufficient to
require an Income tax return a com
plete return must be filed with the col
lector of Internal revenue by March 15.
A farmer should ascertain the gross
income of his farm by computing all
gains derived from the sale or ex
change of his products, whether pro
duced on the farm or purchased and
resold.
Farm Expenses.
From his gross income a farmer is
allowed to charge off all of his neces
sary expenses in the conduct of ttie
farm during the year. These include
costs of planting, cultivating, harvest
ing and marketing. In addition to
these costs he may deduct money spent
for ordinary farm tools of short life
bought during the year, such as shov
els, rakes, etc. Also, the cost of feed
purchased for his live stock may be
treated as an expense In so far as this
cost represents actual outlay, but the
value of his own products fed to ani
mals is not a deductible Item.
Other farm expenses allowable are
the cost of minor repairs on buildings
(but not the dwelling house), on fences,
wagons and farm machinery; also bills
[mid for horseshoeing, stock powders,
rock salt, services of veterinary, insur
ance (except on dwelling house), gaso
line for operating power and sundry
other expenses which were paid for in
cash.
As to hired help, all the productive
labor is a deductible expense; but the
wages of household servants, or help
hired to Improve the farm, as in tree
plunting, ditching, etc., cannot be
claimed against earnings. A farmer is
not allowed to claim a salary for him
self or members of his family who
work on the farm.
Wear and Tear.
Purchase of farm machinery, wag
ons, work animals, etc., also the cost
of construction or extension of build
ings, silos, fencing, etc., should be con
sidered additional investments in the
farm and are not proper deductions
against income.
A reasonable allowance may be
claimed for wear and tear on farm
buildings (except the farmhouse),
fences, machinery, work animals, wag
ons, tanks, windmills and other farm
equipment Which is used in the con
duct of the farm.
As to autos and tractors, the cost of
these is not an expense, although the
cost of their upkeep is an allowable
deduction. If the machines are used ex
clusively for farm purposes and not
for pleasure. Also, in such cases„a de
duction for wear and tear is allowed.
Farm Losses.
The loss ivf a growing crop Is not a
proper Reduction from income, inas
much as the value of the crop had not
been taken into gross income. The
loss of a building or of machinery
through storm, lightning, flood, etc., la
an allowable deduction, but care should
he used to ascertain the correct loss
sustained, as restricted by income tax
regulations.
No deduction is allowed in the case
of loss of animals raised on the farm,
but a loss is deductible from gross in
come If the animals iiad been pur
chased for draft or breeding purposes.
Shrinkage in weight or value of farm
products held for favorable market
prices cannot he deducted as a loss, for
the reason that when such products
are sold the shrinkage will be reflected
in the selling price.
Sale of Farms and Land.
The value of agricultural lands has
been jumping during the past few
years, and during 1919 many owners
sold out part or all of their lands at
big profits. All such gains constitute
income and must he taken into the net
income for the year.
Any person who sold part of a farm
or ranch, or part of a parcel of land,
must also show any gains realized by
tlie sale.
The method of figuring gains and
losses on such transactions is pre
scribed in the Income Tax regulations,
copies of which may lie secured from
Internal Revenue Collectors.
Forms for Returns.
The Internal Revenue Rurenu lias
issued an improved Form 1040F for
the use of farmers. Tills form, to
gether witli Form 1040A or 1010, will
give the farmer explicit information
as to how to properly figure Ids net
Income for 1019.
There are two methods of figuring a
farmer’s income tax return tins year.
He may make ids return on the basis
of tiie difference between the money
and goods received for ids products
and the cash paid out for actual allow
able farm expenses within the year.
Or lie may make ids return on the ac
crual basis, which means computing
the receipts and expenses that pertain
to the taxable year, excluding Income
earned and expenses incurred In pre
vious or succeeding years.
Tell ’em you sew it in The Newark Jnurr.nl
TAX COLLECTORS NOTICE
The undersigned collertor of reve
nue for Independence County, Ark
ansas will attend in person or by
deputy in each Township in Indepen
dence County on the dates hereinaf
ter named, for the purpose of Collect
ing the State, County, Road, School
District, Municipal and Improvement
District Taxes, assessed and levied
against the Real and Personal prop
erty of said county for the year 1910
as follows:
Ruddell Township at Court House,
February 19 20, and 21.
And after the last named date in
my office at the Court House at j
Batesville, Ark., until April 10th.,
1920.
Act No. 415 of the Acts of 1911
provides that all Taxes levied on real
and personal property shall be deem
ed due and payable at any time from
the first Monday in January to and
including the 10th day of April, in
each year, and all such Taxes remain
ing unpaid after the 10th day cf
April, shall be considered delinquent,
and it is hereby made the duty of the
Collector to extend a penalty of 10 per
cent of all such delinquent Taxpayers
who have not paid their taxes within
the time limited.
The Clerk of the County Court at
the time of making settlement with
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|| J. H. Boles, Prop. 0
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the collector shall carefully examine
the record of tax receipts as kept by
the Collector and charge said collec
tor with a sum equal to ten per cent
of all tax receipts recorded after the
10th day of April.
All persons are requested to have
deeds or Tax Reecipts, containing a
correct description of their land so
errors may be avoided in making tax
receipts.
S. D. LINDSEY,
Collector.
Independence County, Arkansas.
MILLINERY
I have a nice line of Hats
for Ladies and Misses,
which I now have on dis
play at the Golden Rule
Store. Everything strictly
new and up-to-date.
MRS. E. W. NELSON
Newark, Arkansas
l W. D. Murphy
♦ BATESVILLE, ARK
X Fire & Life Insurance—Real Estate
| Farm and City Property
X You Want to Sell Your Property Reasonable it
X Will be to Your Interest to See Me First
X Your Patronage Appreciated
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With two car-loads of cook stoves
and two cars of furniture in stock
at the old price, we are prepared
to make you extra good prices on
all housekeeping items.
Remember that in these lines as
well as dry goods, shoes, clothing
and wall paper we take your Lib
erty Bonds at 100 cents on the
dollar.
Also all returned Soldiers and
Sailors are Allowed a
Discount from Regular Prices
BARNETT BROS. MER. CO
Batesville, Arkansas