Hope Star from Hope, Arkansas on October 19, 1937 · Page 6
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Hope Star from Hope, Arkansas · Page 6

Hope, Arkansas
Issue Date:
Tuesday, October 19, 1937
Page 6
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, '-"M- SOPH STAR, HOPE, ARKANSAS Tuesday, October 19,1937 evelt Raises Deficit Estimate; Near 900 Million reak, Income De- Klines, Disturb Federal " Authorities federal Income Taxes .--Likely to Be Increased ; Dractically (#> - President t increased his estimate of the deficit for this fiscal year by f«t,600,000 Monday, forecasting the would run $895.245,000 into the red by nex.1 June 30. Revamp the budget issued last W •'efunds uhder ,*• &*ta|;Security AlCV dltll^UJQ M*V w»v«Q*. v 4w»*.» »-w> April, the president reduced his estimate of revenues by $256,000,000 bringing the figure down to $6,650,410,000. He said spending would be $21,000,000 greater than anticipated and would total $7,345,655,000, exclusive of $200,000,000' tot debt retirement. The estimated gross deficit of $895,245,000 included the $200.000,000 to be spent for paying off debt. Exclusive of this, the net deficit was forecast at $695.245,000, compared with n forecast of $413,000,000 last April and a net deficit of $2,707,347.000 in the fiscal year ended June 30. Tax Decline, Factor Mr. Roosevelt gave no reason for his sharp reduction in the revenue estimate for this year, but authorities ns- sumed it was predicted on the severe stock market decline and recent downswings in business indices. The executive said many factors had Arisen since ' last April to increase spending, including expanded outlays nuthorlzlng unemployment rtCIVl I t* UHMJ l«4t*mi *J4C- W*.«W* V*.— •-- --V Act nnd extension of the Public Works Administration for two years. He served notice that he was curtailing outlays by both the Public Works administration and the Reconstruction Finance Corporation, pioneer emergency agency. Balanced Promised In a recent address, Mr. Roosevelt snid the budget for the next fiscal year, starting July 1, 1938, would be "definitely balanced." His aides in congress frequently hnve expressed hope that spending could be brought within income without additional taxes. The increased deficit estimate for this fiscal yenr, however, aroused speculation as to whether it would be possible to balance next year's accounts without rising tax levies. The Treasury hinted recently that consideration is being given to raising rates on middle-bracket incomes. In his budget statement, the president Wading for Friend? |fJeW Price Lists for Pontiac Cars p€IKlulg, inciUUlus c;Ajjei*lucu vun«.ra iua fiiLt^vb jio»vjucjii., «.>'t K »~~.«-... for the railroad retirement program, made no mention of the next focal 11937—THE PENNEY YEARI » Penney's are ready to fill your many needs with a big store full of savings,, tnat only the Penney company buying for 1524 big, busy stores, make possible. Shop and Compare. Pen ney's Save You Money! LADIES House COATS 12 to 20 §2.98 ••• 50 NEW 27 x 48 Axminister Scatter RUGS 31.98 BBB 100 NEW 84x105 Rayon & Cotton BEDSPREADS All Colors S1.49 Save at Penney's 81 x99 SHEETS Repriced Close Out—1 Lot Childrens UNIONS 25c 3000 yds. New Fall Washable SILK v r ,49c Extra Heavy—Wide OUTING , 8c Heavy Weight—Striped TICKING ISc Men's 32 ot. All Wool MELTON JACKETS 36 to 46 S2.98 ea. 66x76 COTTON SHEET BLANKETS 59c 72x84 Down Pilled—Celanese Covered COMFORTS 12 Men's 12 Ib. WINTER UNIONS 36 to 46 Ecru, Bleached 69c ea. 36-Inch Flowered Fall CRETONNE ,<11c 40-In Heavy Brown Belle Isle DOMESTIC 10c : Men's New First Quality RUBBER BOOTS S1.98 6 to 12 Pair 72x84 Special Cotton COMFORTS 1.98 ea. 69c ea. Childrens 2 to 8 COAT SWEATERS 98c 3000 Yards 36-Inch 32x28 Count HOUSE CANVAS Wide Selvedge 4c yd. SAVE NOW! 70 x 80 Double Part Wool BLANKETS PLAIDS $"|,98 Each 81-Inch Brown Seamless SHEETING Vo d ; 1^ i LADIES 36 to 46 COAT SWEATERS T 8 ea. 36-inch Fast Color, New-Tone 54-Inch All Wool FLANNEL CREPE COATING yd. LADIES Heavy Weight Outing Flannel GOWNS 59c PRINT 10c Men's Outing Flannel PAJAMAS 98c Men's 18-Inch All Leather BOOTS $ 5^ HEAVY COTTON WORK SOCKS 3^250 MEN'S LEATHER JACKETS 36 to 46 Brown c $C.90 Black £l Vi — mmuasm Men's Heavy HUNTING PANTS 30 to 40 SI.98 pv. MEN'S COTTON WORK ea. Men's Woll Mixed Dress SOCKS P, r 25cl PANTS 28 to 42 98c Boy's OXHIDE 2 to 16 OVERALLS 49c pr. II IE JRLAN ACROSS STREET FROM POSTOFFJCE HOPE SHOPS AN0 SAVESI Only Slight Increase in Price of the New 1938 Models Under a new pricing structure, ?onti«c models for 1938 will deliver to he public for as little as two and onc- inlf |>cr cent above the range in cf- ect in 1938, H. J. Klingler, general Manor announced todny in making mown prices on models for the new season. Expectation of extra volume in 1938 wilt help sufficiently to offset higher lalxir and materials costs so that all models in the new six and eight sylinder lines will deliver to the public for from only 2.5 per cent to ?.2 \ er cent more than prices announced in August, Mr. Klingler stated. Tins low range of increases, he points out, has been achieved despite •nany refinements and improvements made in the 1938 cars. "Our now pricing pulley." said Mr. Klingler, "brings within the factory quoted price items which until the 1938 model season were not included. Such items are: standard accessories group, safety plate glass, duco fenders and the factory 'get-ready' chaw. These items total $63.50 on the 1938 six mid SG2.00 on the eight. "Since the retail purchaser paid for these items on delivery of his cnr from the denier under the method of not including them in the list price, and now gets them in the $50,000 Ransom Is Paid in Kidnaping •-Card Magnate Hasn t Been Released as Yet CHICAG6.—(/P>—D. M. Lncld, of the Federal Burenu of Investigation ("G" men), announced Tuesdny that the family of Charles S. Ross, retired greeting cnrd manufacturer, had paid $50,000 ransom for Ross' return. Lndd's statement said the deportment could give no information on the details of the payment, which was "hon- quoted factory delivered price, the net effect to him as a result of this change Is simply a difference in book' keeping methods. However, this pricing structure docs throw a nesv light on quoted factory prices in 1937 as compared with 1038, "For example, our fastest xellitit model is the six 4-door touring sednn. In 1937 this model listed at $815. The I9,'i8 price is $900. However, the 1938 price includes $63.50 worth of accessories and services which the 1937 price did not. Adding this $63.50 to (he 1937 list brings the cost U|> U> SS78.50 which corresponds to the 1938 price of $900. Thus the purclva-scr of a six 4-door touring sednn of the 1938 scries, with its extensive improvements, actually pays only $21.50 more than he did for Dial model over the August prices. This is an increase of 2,45 per cent. died entirely by the family upon what they believed to be definite proof that ihey were in contact with the kidnapers," Ross was kdinnped 24 days ngo and at 8 a. m. Tuesday, the deadline set by Mrs. Ross for word from the abductors, she had received no word from them. Depression Cannery Leads to Prosperity ARDMORE, Okla.-W—When the Winds of depression began to eddy across the land, Shelby Prlddy was virtually broke, and out of a job. He hit upon the idea of putting up n small cannery near his home, offered to can his neighbor's vegetables, claiming a small percentage of the vegetables canned as his toll. Shortly lie found n market for his products and today he supplies canned goods for sevcrnl grocers here an dat nearby Healdlon, and does right well. ^•:^^^i^gi^^^i^gggi OAK LOGS We nrc In Hie mnrkct fof fl roitm lot of Forked Lciu 4 WliHft OftJ Cow Oftk, Ovcrciip, Burr Of nnti He(t Onk LORS. For Prices nml Specifications Apply to Hope Heading COMPANY Phono 245 The Best In Motor Oh* Gold Seal 100% fenn., qt... The New Sterling OH, «jt... Tol-E-Tex Oil Co. J East 3rd, Hojt-C/pcn Day & Nil 9c GOVERNMENT COTTON LOAN FORMS RECEIVED Forms for effecting government 9-cenl loans are here, and wo nrc noj prepared to arrange loans with the same prompt and careful considera lion that we have extended the producer for over 30 years. The evidence of this constructive and piatifymg SCIVILO is tho retcnlio of the valuable patronage of some of the largest and most influentlalj planters in the Hope territory for that unusual length ot time; and the'""" who anticipate placing their cotton in 9-cont government loans can assured of this most satisfactory attention. Furthermore, they will fin|f it to their decided advantage to arrange their loans through our firm. Respectfully, E. C. BROWN & CO. Cotton Merchants 8 South Walnut Street Hope, Ark.iru No chivalrous gentleman would keep Louise DcBocr wading like this. The charming young hunter is mirrored prettily in a central ~)regon lake. H I year. When he forecast the $418.000,000 net deficit last April, the president said he hoped this could be eliminated through government economies and liquidating of assets held byemergency lending agencies. The Treasury's current study is deep in dispute over revision of the undistributed profits tax, so-called "nuisance" 'taxes, proposed codification of the rtvenue laws, the capital gains and community property taxes and reductions to bo allowed mining and oil companies for depletion. Would Broaden Basu Senator LaFollettc (P.. Wis.) re- 1 cently reviewed his demand for a broader income tax base and higher surtaxes on middle bracket incomes. He said $110.000,000 of new revenue could be brought in by reducing the ' personal exemption of married taxpayers from $2,599 to $2,000 and the exemption for single persons from $1,000 to $800. ' The committee has been reviewing the income surtax rates on individuals. They now range from four per cent of net income between $4,000 and Sfi.- 000 and 75 per cent of net incomes over !$5,000,000. LaFollettc said his proposal to increase would produce $247,800.000 of new revenue. 1 Senator King (Dem., Utah) of (lie Senate Finance Committee, has forecast Congress will find it necessary . to lower income tax exemptions so as to reach more taxpayers. He talked also of repealing the capital gains .tax making material changes in the | undistributed profits tax. Amendment Proposed The committee has heard discussion of a proposed constitutional amendment providing a two-way taxing 1 power for federal and state levies on | now exempt securities. In 1935, it is ' estimated, there were outstanding more than $50,000,000,000 of exempt and partially exempt federal anrl suite I securities on which holders paid no tax for the interest they received. I Also, the proposed amendment would lift income tax exemptions enjoyed by more than 6,000,000 federal, state and local employes. Gross Deficit Smallest '< WASHINGTON—(A 1 )—The Kn.s.s drf- \ icit of $895,277,000 which Prc-si-lent i Roosevelt forecast for the current ; fiscal year would be the .smallest since ! the budget went out of balance in 1931. Prior to 1931, the government h.nl 11 years of surpluses. Tlie url:at.o-l. deficit ever recorded—$13,:i70,{i:!7,0(X) i occurred in the war-time year. 1918-19. Since 1930, the Treasury has marked up the following red-ink entries for individual fiscal years: 1931 $ 9fll,!)5!U)l)» 1932 3.147,919,(Nil) 1933 . 3,063.25li.W)U 1934 3,989.490.01)0 1935 3,575,357.000 1936 4,763.841.001) 1937 . 2.811,318.001) Cobb's Radio SERVICE BEST WORK LOWEST PRICES Phone 383 5 room Residence—322 South Siiovcr street. HO acre farm, CO acres cultivation. 80 acres timber and pasture. 4 room house, new Ijarn. Good water, 7'/i miles south of | A Hope. Cash or reasonable terms. I f j Foster & Bordenj 123 YV. Division St. 5 Licensed Real Estate Brokers I „"•*' ** k ~Vtox5_ ^-44 >>/ \ * >>-; HERE SATURDAY! o r «<•** i" * , * y~y' >*"" ' —"? »-«*»rT»< -f r-vy-T-js^ ^ t 3\ > ""•"•"•S: jSt i% ^, ^ ^ jjw.riw »*r r*n- * V t^f^wtfy *S. *s> to s- </-x & ^xf*. *~:r:i < -.: -«M^ - v ,. ," ,0 i' j>,\ *,7-T fr V * ' .*""»$•<'*'*v .'^ , ',';•:;<<'v>< ' -* • \ '*£-;,. *»** ^. ."*>-, .„*" '',. • Y-. '„„*".•% '-°* • > ^ <«> !.? '\ f /k I ».. *'- * * TWO NEW V'-rf 3, STYLED SO SMARTLY—BUILT SO Wi^- PRiCED SO LOW—YOU'RE GOING TO SAY V iGG & *V*4M! -- -;<-» AMERICA'S FINEST LOW-PRfCiO CAR! I'lCft' taw < F, "•* >'

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