“The American Home, the Safeguard of American Liberties.” OFFICERS. Youngstown .Cleveland ...Defiance .46 E. Gay St., Columbus .Hamilton .Cincinnati CHAS. H. BROWN. ... Columbus L. M. STUDEVANT. ..Sidney JAMES M, McKay. Youngstown W. G. MCCLAIN... ..Bellaire WILLIAM R. CREER. Cleveland S. RUFUS JONES... ...Dayton EMERY R. HIETT... ..Toledo H. C. CLIPPINGER.. Delaware JULIUS WHITING, JR. ...Canton F. L. WELLS... Wellsville K. V. HAYMAKER... .Defiance W. D. TREMPER. Portsmouth H. F. CELLARIUS. Cincinnati L. L. RANKIN.. ..Columbus FRED W. TORNER.. ..Marietta C. J. McKEE. ..Dayton J. J. STODDART. .Columbus LEGISLATIVE COMMITTEE. JOHN J. PURINTON. .East Liverpool L. M. STUDEVANT.... ....Sidney Chas. H. BROWN. .Columbus H, F. CELLARIUS.. .Cincinnati PUBLICITY COMMITTEE. .. Lima F. M. COOKE... .Akron JOHN J. PURINTON, President, East Liverpool, Ohio. Circleville- New Home B. &L Co. East End L. Ass'n Co. Cleveland L. Co. Cech B. & L. Ass'a. Camden- Cleveland S. & L. Co. Westside S. & L. Co. AllianceCanal Dover Evanston B. & L. Co. Cuyahoga B. & L. Co. Alliance B. & S. Dover B. & L. Co. Extension L. & B. Co. Economy B. & L Co. Industrial B. & L. First Ward B. & L. Ass's Equity S. & L. Co. CantonAshland Co. Mravenec B. & L. Assia. Citizens B. & L. Co. Ashland B. & L. Fortschritt Bau Verein Mutual B. & Invest. Co. S. & L. Co. Ashtabula Fundamental B. & L. Co. Obio Mutual S. & L. Co. Cardington Germania L. & B. No. 2. Ohio S. & L. Co. Germania Bldg. Ass'n Co. Provident B. & L Assis No. 8. South Side German 3 Peoples B. &L Carthage S. & L. Ass'n. Gest Street B. Ass'a No. 1. Ass'a, Cedarville- Union S. &L Co. Cedarville B. & L. Ass'a. Hewitt Ave. L. & B. Co. Celing- Clyde Citizens B. & L. Co. Centerburg Kindel Ave. L. & B. Co. Home S., B. & L Centerburg B. & L. Co. Livingston St. L. & B. Co. Coldwater Madison Road S. &L Co. Home B. & L. Co. The Fidelity B. & L. Co. Music Hall L. & B. Co. New Buckeye L, College Hi- College Hill L. & B. Co. Columbus Allemania B. & L. Co. Belpre B. & L. Co. Co. No. 2. Buckeye State B. & L. Co. O'Bryonville B. & L. Co. &L Central Ohio B. & L Co. People's B. & L. Co. Aurora B. &L Co. Co. Columbian B. & L. Co. Dollar B. & L. Co. Old Glory B. & L. Co. Economy_B. & L Co. Bowling Green Burnet Woods B. & S. Co. Pleasant B. & L. Ass'n Co. Fidelity B., L&S. Co. Equitable B. & L. Business Men's B. Ass'n Quick Withdrawal Bldg. Franklin L. & S. Co. Blue Ash & L. Co. Ass'n Co. Home B. & L. Ass'n. Blue Ash B. & L. Co. Central Fairmount L. & Reading Road L. & B. Co. Lilley B. & L Co. Bond Hill B. Co. Midland B. & L. Ass'a Ca. Bond Hill B. Cincinnati Workingmen's San Marco B. & L As'n Mutual S. & L. Aos'n. Bridgeport Club B. & L. Co. Co. Ohio B. & L. Co. Bridgeport S., L. & B. Citizens' B. Ass'n No. 2 Seventh Ward L. & B. Co. Ohio State S. & L Au'n. Brookville Clark Street L. & B. Co. Star B. Ass'n No. & Co. Park S. Co. Brookville B. & S. Cleveland B. Ass'n Co. Vendome B. & L. Co. People's S. Ass'n Co. Bryan Clifton Heights No. 2. Victoria B, Ass'n No. 2. Railroad Employes B. & L Bryan H., S., L. & B. An'a | L. & B. Co. Walnut Hills S. & L. Co. Co. Bucyrus Columbian B. & L. Ass'n Wester Hills B. & S. Co. Scioto B. & L. Co. Bucyrus L. & B. As'n. Co. Woodburn Ave. B. & L. Co Teutonia S. & L. Co. People's S. & L. Delta L. Ass'a Co. Workingmen's German B. The Fireside B. &L Co. Cadis Deutscher Landwehr B. & & $. Co. Union B. & S. Co. The Cadiz B. & L. A. L. Co. Young Men's B. & L. Co. West Side B. & L Ass's. MEMBERS OF OHIO BUILDING ASSOCIATION LEAGUE -Continued Sandusky- Home S. & L. Co. Miamisburg Peoples L. & B. Co. Savings B. & L. Co. Scio Home S., B. &L Co. Miamiville- Sebring- Clermont B., S. & L. Co. Buckeye B. & L. Co. Middletown- Sharonville- Sharonville S.&L.As'nCo. Germania B. & L. Co. Peoples B. & L. Ass'n Co. Shelby- Shelby Co. B. & L. Asa'a. Sidney- People's S. & L Ass'n. Shelby B. & L. Co. Mt. Gilead Somerville Mt. Gilead S. & L. Co. Somerville B., L. & S. Co. Montgomery Co. B. & L & L. Co. Spencerville- Mt. Healthy S. & L. Co. Spencerville H. & S. Ass'n. Mutual H. & S. Ass'n. Iron City B. & L Co. Mt. Sterling Springfield Clark County B. & S. Co. Mer. & Mec. S. & L. Co. Mt. VernonWest Side B. & L. Co. Jackson B., L. & S. Co. Springfield B. & L. As'a. Knox B. & L. Co. Steubenville Citizens B., L. & S. Ass'n. Steubenville B. & L. As'n. Co. Defiance Home S. & L. Jefferson B. & S. Co. Kenton Mt. Washington L, B. Ass'n: Tithin & D. Co. Security B. & L. Co. Home S., B. & L. Co. Citizens B. Asa'n Co. Lancaster- Nelsonville Delaware National B. & L. Ass'n Co. New Plan S. & L. Co. Nelsonville Home & S. Fidelity B. A. & L. Co. Toledo Ass'a. Corn City B. & L. Co. Home B. & L. Co. Industry S. & B. Co. Delphos Sv& L. Ass'n Co. B. & L. Co. Labor B. & L. Asa'n Co. Mutual Aid B. & L. Co. DeltaLebanon S. Co. Peoples S. Ass'n. New Bremeth Toledo S. Ass'n, 1 roy The Concordia B. & S. Co. Dennison & Uhrichsville Leesburg Citizens B. & L. Ass'n Co. People's B. & S. Ano'n. B. & L. Leesburg B. & L. Ass'n. Uhrichsville New Carlisle- The People's B. & L. Co. Federal B. & L. Co. LeetoniaPeoples S. & L. Co. Upper Sandusky- New Philadelphia- Tuscarawas B. & L. Co. First B. & L. Ass'n Co. Lima Urbano New Waterford- Perpetual S. Ass'n. Peoples S. &L Co. Ass'n Co, Van Wert- Niles The Fraternal B., L. & S. The Eaton L. & EL. Aid Enterprise B. Assin Co. Home B. & L. Co. Co. Versailles The Versailles B. & L. Co. Lorain County S. & L. Co. Lorain ท Norwalk Wapakoneta- Wapakoneta B. & S. Co. The Hancock S. & L. Co. Lockland Norwood Warren Trumbull S. & L. Co. Fort Recovery B. & L. Co. Loveland Norwood I., B. & L. Co. Waverly- Ottawa- Waverly B. & L. Co. The Miami Valley B. & L. Co. Wellston- Oxford Central B. & L. Co. Oxford L. & B. Ass'n. Citizens B. & L. Co. The H. B. Smith B. & Citizens Savings Ass'n. Painesville Jackson Co. B., L. & S. Co. L. Co. Lynchburg The Citizens L. & B. Co. WellsvilleSandusky Co. B. & L. Co. Lynchburg B.&L.Ass'n Co. Piquam Perpetual S. & L. Co. Westerville Border City B. & L. Co. The Home S. Co. West Jefferson Pleasant Ridge B. &L Co. West Jefferson B. & L. Ca. Germantown The Madison B. Ass'o Portsmouth W. LibertyGermantown B. & S. Ass'n. No. 2. Citizens S. & L. Ass'n Co. Peoples S. & L. Co. Glandort Manchester The Commercial B.& L.Co. W. Milton Glandorf Germ. B. & L. Citizens B. & L. Ass'n, Portsmouth Germ. B. & L. The W. Milton H. & S. Ass'n, Mansfield Ass'n. Ass'n. Wooster Home B. &L Co. Ravenna Wayne B. & L. Co. Pioneer City B. & L. Co. The Portage S. & L. Co. Peoples S. & L. Co. Wyoming- German B., L. & S. Co. Wyoming L. & S. Co. Granville Home B., S. & L. Co. Home B. & L. Co. XeniaSavings, Bldg. & L. Co. Citizens B. & L. Co. Ripley Home B. & S. Co. Peoples B. & S. Co. Roseville Youngstown Equity S. & L. Co. St. Bernard Home S. & L Co. The Citizens H. & S. Co. St. Bernard L. & B. Ass'n Zanesville- Co. Equitable S. Co. Hamden Junction The First S. & L. Co. St. Mary's Homestead B. & S. Co. Hamden B. & L. Ase'n. Peoples B. & L. Co. Union B. & L. Co. Muskingum B. & L Co. Building Association League of Illinois. Secretary's Office, Quincy, Ill. OFFICERS. MARK D. RIDER President.... ..Chicago ALBERT WACHOWSKI, Vice-president. ..Chicago O. W. WALKUP, Second Vice-President. Galesburg LAKE W. SANBORN, Treasurer.. Galesburg B. G. VASEN, Secretary.. .... Quincy EXECUTIVE COMMITTEE. LAW COMMITTEE. E. D. McCULLOCH, Chairman... ...Peoria SAMUEL OWINGS, Chairman.... Mattoon L E. EMMONS. Quincy PAUL KRAEMER.. .Chicago Chicago KONRAD RICKER. Chicago ...Chicago H. M. SNAPE.. Springfield Springfield H. J. MAGNER. Taylorville PUBLICITY COMMITTEE. PETER HINKEL. ... Chicago TERRY SIMMONS.. ..Marseilles John L. Novak, Chairman. ...... Chicago F. M. BROWN... Champaign ALBERT SCHNEIDER.. Kankakee NIEL LYKKE.. ...Chicago WARD REID... .Greenville E. R. PARTLOW. ..Danville ADVISORY COMMITTEE. District No. District No. 1 Oscar Kuehne, John N. Jacobson.... Chicago 18 A. H, Cline.... .Paris 2 John Czekala, Albert Wachowski.... Chicago 14 J. D. Crammond.. Gibson City 3 Jos. L. Voborsky, Frank J. Petru... Chicago 15 Mary L. Johnson. .Decatur 4 Neil Lykke, W. C. McClain.. Chicago 16 W. ). Aurelius... Springfield 6 John G. Wetzel. Sterling 17 Taylorville 6 ¥. W. Pohl... ...Joliet Sumner 7 Geo. A. Wilson. .LaSalle Greenville .Alton 9 S. H. Ferris.. Carthage Sparta 10 J. F. Culp.... Mason City Mt. Carme! 11 C. L. Farrington.. .E. Peoria 28 D, E, Froelich... .Shawncetown 14 S. E. Sims. .Pontiac . Murphysboro B. & L. Douglas Park, Edwards Co. L. & B. A. Belleville Security. Centralia B. & L. Bohemia B. & L. Bohemian Work'gmen's. Budoucnost B. &L Piasa Bldg. Society Home Mutual S. & L. Champaign L. & B. Busy Bees S. & H. B. A. Bethany, Anne Loan & Improvement A B. Glowacki B. & L. A. Anna L. & Imp. Co. Center Avenue B. & L. Bethany B. & L. Twin Cities S. & L. Arcolo Central Park B. & L. Bloomington Chandlerville- Chicago Mut. B. &L Columbia B. & L. Concordia B., L. & H. Coles Co, B. & L. A. Charleston H. & L.A. Casimer-Pulaski B. & L. Columbian B. & L. Cesky Delnik. Delta B. & L. A. Ceska Kalifornia. Amity B. & L. Cechoslovan, Amerikan B., L. & H. Chicago B., L. & H. Churdim B. & L. All Saints Parish Ass'n. Cicero B. & L. A. Crown B. & L. Atlas B. & L. Drexel B. & L. Batavio Carbondale B., L. & H. Augustyn Kordecki Deering B. & L. Batavia B. & L. A. Carterville Ben Hur B. & L Delnicky Krok. B. & L Domov B. & L. Bohemian Slav. B. & L. Dunaj B. & L. Borivoj B. & L. Eagle L. & Inv. Ass'n. 8 21 Building Association News A MONTHLY MAGAZINE. OFFICES: 16 WEST SIXTH ST., CINCINNATI. 314 8. CANAL ST., CHICAGO. SUBSCRIPTION, $2.00 PER ANNUM. CANADIAN AND FOREIGN, $2.28. 26 CENTS A COPY. under Act of Congress of March 8, 1879. Vol. XXXIV. FEBRUARY, 1914. No. 2. Income Tax Returns. Domestic building and loan associations, organized and operated exclusively for the mutual benefit of their members, are specifically exempt from the operations of the recently enacted Federal Income Tax Law, which superseded the excise tax on corporations. It is suggested that all associations secure from the Collector of Internal Revenue of their district a Corporation Income Tax blank and that, where the facts warrant, they attach thereto affidavit claiming exemption in the following form, which Corporation Income Tax blank, with affidavit attached, should be filed with the Collector of Internal Revenue in the district in which the association is doing business, prior to March 1, 1914: AFFIDAVIT. President, and Association of.... being severally duly sworn, each for himself deposes and says that the aforesaid association is a domestic building and loan association, organized and operated exclusively for the mutual benefit of its members, that it distributes its profits at equal rates among all its members, regardless of the kind of stock which such members hold, that it loans its funds to members only, and is strictly mutual, and therefore under the provisions of Section 2, Paragraph G of the Federal Income Tax Law of October 3, 1913, is exempt from the Income Tax imposed by said act. President Secretary Sworn to and subscribed before me this. day of.. ..191... Notary Public in and for ..County The filing of the blank with the affidavit attached is suggested for the reason that the present income tax act is a new law, and your claim to exemption should be asserted under the same and filed prior to March 1, 1914. TREASURY RULING. Dr. Herman C. H. Herold, internal revenue collector for the fifth district of New Jersey, received a letter from Acting Commissioner of Internal Revenue Robert Williams, Jr., in Washington, in response to repeated requests for instructions as to the liability of building and loan stock earnings of individuals subject to the income tax, which were sent by Chief Deputy Collector E. Allan Smith. The decision of the department, as given in the letter, is of importance and wide interest. It is as follows: "It appears that these associations (building and loan associations, issue statements annually at the close of their fiscal year, showing the book value of each share and the withdrawal value of each share. "In reply to your inquiry, you are informed that, in the opinion of this office, the increase in the value of the shares, as ascertained and as shown by the statements issued by the associations, should be accounted for as income to the individuals holding such shares of stock, and that the increase will be considered to be income for the year in which the increased value is made a matter of record on the books of the associations; that is to say, when these values are due and payable in case the individuals desire to withdraw, and in the case of actual withdrawals the income will be based upon the withdrawal value of the stock as evidenced by the statement of the association. "If the stock is not withdrawn, then the book value as evidenced by the statement will be the basis for determining the gain arising and accruing to the individual on this account.” It was pointed out by Deputy Collector Smith that this ruling must not be construed to apply to the building and loan organiza |