October 25, 1920 



HARDWOOD KECORD 



29 



HARDWOOD LUMBER 



THIRTEEN BAND MILLS 

 SIX PLANING MILLS 

 ELEVEN FLOORING UNITS 



Our policy of cooperation with our customers has 

 been described by some as too ideal to be practical. 

 We are told that the customer will usually have the 

 attitude of competition, regardless of our attitude 

 toward him. 



We do not believe this is true of the vast ma- 

 jority of our patrons. We believe they appreciate 

 fair and liberal treatment, and when dealt with in 

 a spirit of cooperation, they are willing to cooperate. 



Our President declared our policy, on an im- 

 portant occasion, as follows: 



"The aim of our company has always been to 

 square its actions with a rule of justice; to d^al 

 fairly with everyone, whether employees or the 

 public, customers or competitors. Indeed its aim 

 has been more, — it has been its purpose to pursue 



Annual Capacity 

 130,000,000 Feet 



this policy in a broad-minded, liberal, if not indeed 

 benevolent spirit." 



We think it is a good idea to have the good will 

 of our customers, and to cement that wherever 

 possible by doing more rather than less than the 

 occasion requires. 



We tell our salesmen to remember these sen- 

 tences from our Code of Principles: 



"Always do unto others as you would have them 

 do unto you, — but do it first. Confer the benefit, 

 do not wait to receive it. Make the other man your 

 debtor by a feeling that he has been benefited by 

 you." 



It is thus we endeavor to 



Render Service to 



all our patrons. 



W. M. RiTTER Lumber Co. 



COLUMBUS, OHIO 



wliieh the area would have produced ou that date if all of the merchant- 

 able tinibei" had been cut and utilized in accordance witb the standards of 

 utilization prevailing in that region at that time. If, subsequently, during 

 the ownership of the taxpayer making the return, as the net result of the 

 growth of the timber, of changes in standards of utilization, of losses not 

 otherwise accounted for, of abandonment of timber, and/or of errors in the 

 original estimates, there are found to remain on the ground, available 

 for utilization, more or less units of timber than remain in the timber 

 account or accounts, a new estimate of the recoverable units of timber 

 (but not of the cost or the fair maricet value at a specified date) shall be 

 made, and, when made, shall thereafter constitute a basis for depletion. 



Art. 236. Aggregating timber and land for purposes of valuation and 

 accounting. — With a view to logical and reasonable valuation of timber, 

 the taxpayer shall include his timber in one or more accounts. In gen- 

 eral, each such account shall include all of the taxpayer's timber which is 

 located in one "block," a "block" being an operation unit which includes 

 all of the taxpayer's timber which would logically go to a single given 

 point of manufacture. In those cases iu which the point of manufacture 

 is at a considerable distance, or in which the logs or other products will 

 probably be sold in a log or other market, the "block" may be a logging 

 unit which includes all of the taxpayer's timber which would logically be 

 removed by a single logging development. In exceptional cases, provided 

 there are good and substantial reasons, and subject to approval or revision 

 by the commissioner on audit, the taxpayer may divide the timber in a 

 given "block" into two or more accounts, e. g., timber owned on February 

 28, 1913, and that purchased subsequently, may be kept in separate 

 accounts, or timber owned on February 28, 1913, and the timber purchased 

 since that date in several distinct transactions may he kept in several 

 distinct accounts, or individual tree species or groups of tree species may 

 be carried in distinct accounts, or special timber products may be carried 

 lu distinct accounts, or "blocks" may be divided into two or more accounts 

 basea xyyi the character of the timber and/or its accessibility, or scattered 

 tracts m-Ay be included in separate accounts. When such a division is 

 made a proper portion of the total value or cost, as the case may be, shall 

 be allocated to each account. 



The timber accounts mentioned in the preceding paragraph shall not 

 include any part of the value or cost, as the case may be, of the land. In 

 a manner similar to that prescribed in the foregoing part of this article 

 the land iu a given "block" may be carried in a single land account or 

 may be divided into two or more accounts on the basis of its character 

 and/or accessibility. When such a division is made, a proper portion of 

 the total value or cost, as the case may be, will be allocated to each 

 account. 



The total value or total cost, as the case may be, of land and timber 

 shall be equitably allocated to the timber and land accounts respectively. 



Each of the several jand and timber accounts carried on the books of 

 the taxpayer shall be definitely described as to their location on the ground 

 either by maps or by legal descriptions. 



For good and substantial reasons, to be approved by the commissioner, 

 or as required by the commissioner, the timber or the land accounts may 

 be readjusted by dividing individual accounts, by combining two or more 

 accounts, or by dividing and recombining accounts. 



Art. 237. Timber depletion and depreciation accounts on books. — Every 

 taxpayer claiming or expecting to claim a deduction for depletion and/or 

 depreciation of timber property (including plants, improvements and 

 equipment used in connection therewith) shall keep accurate ledger 

 accounts in which shall be charged the fair market value as of March 1, 

 1913, or the cost, as the ease may be, of (a) the property, and (b) the 

 plants, improvements and equipment, together with such amounts subse- 

 quently expended for the administration, protection and other carrying 

 charges, or development of the property or additions to plant and equip- 

 ment as are not chargeable to current operating expenses. (See Articles 

 (231 and 236). In such accounts there shall be set up separately the 

 quantity of timber, the quantity of land, and the quantity of otber 

 resources, if any, and a proper part of the total value or cost shall be 

 allocated to each. (See Article 236.) These accounts shall be credited 

 with the amount of the depreciation and depletion deductions claimed and 

 allowed each year, or the amount of the depreciation and depletion shall 

 be credited to depletion and depreciation reserve accounts, to the end 

 that when the sum of the credits for depletion and depreciation equals the 

 value or cost of the property, plus the amount added thereto for admin- 

 istration, protection and other carrying charges, or development or for 

 additional plant and equipment, less salvage value of the physical prop- 

 erty, no further deduction for depletion and depreciation will be allowed. 



One of the best known violin makers of this country recently made tlie 

 following comment on his business ; 



The fiddles turned out by factorle.s have no voice quality, no tone ana 

 no personality. There Is as much difference between a violin and a fiddle 

 E8 there is between an oil painting and a cheap chromo. I choose the 

 making of violins because It combines all the arts and professions In which 

 I am interested. There Is real engineering in the construction of the .irch 

 of a violin's back. There Is sculpture in the carving of the head. There 

 IB architecture and history and music in the making of a single instrument. 

 There is also art. I know by Instinct when the wood is thin enough. It 

 U because I have a highly sensitive ear that I detect the vibrations of 

 wood and know what progress I am making in turning out a violin. 



