Mt. Vernon Register-News from Mt Vernon, Illinois on January 2, 1969 · Page 14
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Mt. Vernon Register-News from Mt Vernon, Illinois · Page 14

Mt Vernon, Illinois
Issue Date:
Thursday, January 2, 1969
Page 14
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THURSDAY", JANUARY 2, 19119 THE REGISTER-NEWS — MT. VERNON. ILLINOIS 7—B A NEW DOLLAR IN 1970? The Joint Commission on the Coinage concluded another of its sessions on Dec. 5 and as usual nothing of earthshaking importance came from it except the possibility of issuing a new non-silver, one-dollar coin in the near future, A front page cover story in Coin World quoted Secretary Wallace as saying. '"There appears to be some need to consider a nonsilver dollar coin as part of the nation's coinage system." Wallace pointed out that the Coinage Act of 1965 assigned responsibility to the commission to make recommendations with respect to the silver dollar. While resumption of minting silver dollars is not practical, a nonsilver dollar coin would be considered as a part of !he nation's regular issue. Miss Eva Adams, director of the Bureau of the Mint and a member of the commission, was asked to submit her recommendations. Other subjects of primary importance included the disposition of nearly 3 million silver dollars considered rare items with a collector's value; the possible discontinuation of half-dollars with a silver content, and continuance of the ban on melting and exporting of silver coinage. The following are brief conclusions on each of the subjects as released by the Treasury Department. BABE SILVER DOLLARS The commission recommended that the 2.9 million rare silver dollars being held by the Treasury be sold on a bid-sale basis. They would be sold at minimum fixed prices, with an option to the buyer to include an alternate bid price to be considered in the «vent the number of coins ordered exceeded the number of coins available in a particular category. This method is similar to that recommended by an interagency committee designated by the commission to develop a plan for disposal, except that tha commission's amendment offered by Rep. Wright Patman, D-Tex., makes possible a fair and equitable method of distribution of coins if more orders are received for a particular category of coins than the available supply. In that case, those bidding the highest alternative price would be awarded the coins. Small wonders can be seen at REGENCY MOTORS, Inc. Siilem Rd. Phone 242-6200 HALF DOLLARS The commission agreed to vote on two proposals: (1) To continue minting 40 per cent silver half-dollars at the present annual rate of 100 million pieces, requiring approximately j.5 million ounces of silver annually, or (2) ask Congress to authorize the minting of a nonsilver clad half-dollar, with the mint continuing to mint 40 per cent silver halves at the current rate until such new authority is granted. Results of this vote were incomplete at this writing due to some members casting absentee ballots. COIN MELTING BAN Secretary of the Treasury Henry Fowler has recommended that his successor in the Nixon administration continue the present ban on the melting and exporting of U.S. silver coinage, and that Congress enact legislation making the ban permanent. The commission is to vote on (1) whether to recommend that Congress make the ban permanent, or (2) end the ban entirely. If you have noticed an increased number of silver coins in your pocket change, it is because an added demand for coins this fall necessitated recirculating silver coins mixed in bags of clad coins. According to the Treasury Ibis resulted in a net loss of an estimated 28 million ounces of silver, primarily in the form of silver dimes. So keep your eyes open for both dimes and quarters. This may be your last chance to pick up a few for posterity. * * * Word from Margo Russell, editor of Coin World, is that the Nixon Inaugural Medal will be struck by Medallic Art Co. of New York and distributed by Presidential Art Medals, Inc., 10 W National Road, Ehgle- wood, Ohio, and the Coin and Currency Institute, New York City. Two types of medals will be made available. A bronze version measuring 2% inches in diameter will cost $6, including an easel designed to display the medal. The silver pieces will be numbered from 1 to 15,000. The first of these pieces will be presented to Vice President-elect Spiro Agnew. The silver ropy wil measure 2Yz inches in diameter and sell for $45 each. A sculptured miniature of the crewel work pattern depicting the Great Seal of The United States embroidered by Julie Nixon for her father, President­ elect Nixon, will appear on the reverse of the 1969 inaugural medal. DEPARTMENT COUNTRY STYLE STEAK Seasoned to a gourmet s taste. Quality steak simmered to its own good gravy. Teamed up with garden fresh vegetables, feved with roll and daily rich butter. 95 iitUt lee box eream CHEESECAKE Whipped cream cheese mixture amid tasty crumbs. So moist, rich. Generous portion. Jumbo % pound... CHEESE BURGER •1 Lean beef with melted Old English cheese. French fried, tomato on lettuce. Restaurant Open Doily Til 8:30 P.M. PSenfry Of Free Parking — 9:30 To 9 Economy Defies Cool—Off Effort By JACK; LEFLER AP Business Writer NEW YORK (AP) — The tired-up economy is surprisingly defiant of efforts to cool it off. Early this year, government officials and many private economists were telling the American people and exhorting Congress that the only thing needed to slow the rate of business expansion and accompanying inflation was a 10 per cent tax surcharge coupled with a cut in government spending. A long-reluctant Congress imposed the tax boost July 1. Economists forecast that de­ celeration would begin at a moderate pace in the third uuarter and show substantial results In the fourth quarter. It didn 't work out that way. "Developments during 1968 have emphasized anew how difficult it is to forecast the pace of economic activity," says Morgan Guaranty Trust Co. in its year-end business review. "In general, neither government nor private economists were at all accurate in the projections they made for the year as a whole, and their misjuclc- ments were widely shared by business men, high officials in the administration, congress­ men on both sides of the aisle and journalists. Forecasters were confounded, for one tiling, by the failure of coasumers to restrain their recent buying habits despite the extra 10 per cent tax bite on tneir paychecks. Retail sales did slip in September and October but rebounded sharply in November. Indications were that if retail sales were less than robust during the Christmas season it would be mainly because a lot ;n shoppers stayed home because of the flu epidemic. Statistics indicated that consumers were dipping into their savings to maintain their accustomed standard of living. And tU».re were the factors of higher employment and widespread increases in wages and salaries. Forecasters also had expected that the income tax boost, which would slice profits, would cause corporations to pull in their horns as far as expenditures for new plants and equipment. Instead, according to the Commerce Department, "business seems to have embarked on a new round of investment spending which will have important stimulating effects on an economy operating at very high employment rates." Economists were surprised that the Gross National Product —-total of all goods and services —jumped by 518.1 billion in the third quarter to an annual rate of J871 billion when they had expected tin increase of about $12 billion. Mow the Commerce Department says there will be a .sizable increase in the Gross National Product in the fouri.i quarter—"not much different tiv.m the rise in the third." The conclusion seems to be -.hut consumers and business executives have decided to spend r:w because prices might well '•o higher next year. State Revenue Chief Accused Of Evading Taxes CHICAGO (AP) - Theodore A. Jones, Illinois state revenue director, was indicted Monday by a federal grand Jury on charges of uvudlnp taxes on a Chicago firm of public account- administrative post in Illinois ants. Most, of the unrcixirtod in- j government, come consisted of mortgage) At the time of the alleged in- broker fees, director ires and'.come evasions Jones was gen- interest income, said U.S. Atty. • oral manager and senior vice Thomas A. Foran. president of Supreme Life In- The indictment was returned i surance Co. of America, before Judge Edwin A. Robson j Jones has held a number of of U.S. District Court. Jones' i federal and state posts, includ- bond was set at $1,000. No ar-lin^ those of consultant to the raignim-nt date was set. j Bureau of the Budget, member Jones, if convicted, could fac i of the Illinois Pardon and Parole „ , a maximum sentence of three total of 516,787 in income in n: ycnrs in prlson and a S5>0 oo fine four year period. : on each counl> Board, member of the Illinois Public Aid Commission, member of the President's Commit- IMAGINATION AT WORK — Maria Vatdez took a plastic ball and created her own "op" art form by using a variety of parts in the Sylvania plant at Warren, Pa. The automatic leads and custom welds are used In electronic and electrical products. Jones, 38, of Chicago, was ae -j Jones was appointed revenue j tee on Equal Opportunity in mised of failing to report S5.693 j director in January 1967 by for- 1 Housing, Midwest director of tha from a mortgage broker, $150 ini mer Gov. Otto Kerner. lie was I War on Poverty, and trustee ol -limctor's fees and $471 interest j the first Negro to hold a high' the University of Illinois, for 10G2, $4,286 from a mortgage j broker and $400 in directors f.;es j for 1963, $4,283 from mortgage j brokers end $350 in director's j fees for 1561 and 51,154 from a I broker in 1965. The alleged failures to report income occured prior to his as- j suming the revenue director's j job in 1967. ! Jones, 56, of Chicago, was accused of failing to report $5,693 income in 1962, $4,686 in 1963, $4,633 in 1964 and $1,154 in 1965. Jones is a certified public accountant and a partner in a I OPENING For Full Time Children 7:30 To 5:30 P.M. — Monday Through Friday —- Modern Facilities LOLIP0P DAY CARE CENTER 601 Strawberry Phone 242-5978 1010 Newby Aye. Phone 242-2340 SUPER MARKET Plenty FREE Parking v/e Redetm Food Stamp * Store Hours: 8 A.M. Till 6 P.M. Except Friday 8 A.M. Till 8 P.M. THIS AD EFFECTIVE FROM JAN. 2 THRU JAN. 4,1969 1-LB. CANS JNo. 2>A Can Bush> MAXWELL HOUSE Any Grind Lb. No. 2Va Can Bush's HOMINY 2 - 29< 12-Oz. Canned Luncheon Meat 49* Large Cans MILNOT MILK It Whips 3 c ons Butternut — 16-Oz. Loaves BREAD 5 * $ 1 00 EMGE'S BEST THICK SLICED BACON 2 Lb. Pkg. $|19 No. 303 Can Del Monte's Solid Heads GREEN LIMA BEANS 2 0 49* CABBABE Lbs. 29* l-Lb. Box Scott Ladd CRACKERS 19* Yellow 3-Lb. Can CRISC0 SHORTENING 69* ONIONS 3 Lbs 29* 10-Lb. No. 1 Red POTATOES 39* 12-Oz. Pkg.'—Red Cross E6G NOODLES No. 303 Stokeley's TOMATOES 25* 2 For 49* 46-Oz. Can Del Monte TOMATO JUICE Can 37* rare WHERE" YOU GET QUALITY, SELECTION & SAVINGS FRESH GROUND ^ Lbs. $400 FRESH PORK HOULDEP STEAK * 4? TENDER BRISKET BOILING BEEF »• W lb. 19 SOUTHERN GOLD; OLEO BLUE BELL BOLOGNA—-PICKLE LOAF -SPICE LUNCHEON lb - 59 FRESH PORK UVEP - 25 BLUE BELL SLICED BACON ENDS & PIECES S Lb. OA* Box 07 MEATY PORK BACK BONES *59 ( FIRST CUT PORK CHOPS *• 59 TENDER BEEF CHUCK ROAST * 53 FRESH PORK SPARE RIBS PURE 50 Lb. $£49 25 lb. $J29 . Can Can BOB

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