The Courier News from Blytheville, Arkansas on May 4, 1949 · Page 6
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The Courier News from Blytheville, Arkansas · Page 6

Blytheville, Arkansas
Issue Date:
Wednesday, May 4, 1949
Page 6
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WEDNESDAY, MAY 4, 1949 BLYTHEVILLE (ARK.) COURIER NEWS 8EVEM Landlords Get Simple Formula For Figuring Net Operating Income and How to Hike Rents By Jamn Marlow WASHINGTON, May 4. WV-This is an ABC on the new way I ^tndlords to figure their case if they want permission lo raise rents. ^ The government Monday night Issued a formula for them. U divides landlords into two groups: 1. The small one. He has a place with one lo four dwelling units. 2. The large one. He lias » place with more than lour units. This is how Ihe formula works* — for them: loi Chennault Urges U. S. Assistance For the Chinese This Old Acquaintance Not Forgot —Much to Bootlegger's Dismay The small landlord. He gets a rent Increase If his net operating Income Is less than 25 per cent of his gross Income. He'll Ret an Increase bringing his net operating Income up to 30 per cent of his gross income. Income Defined The large landlord. He gets an Increase If his net operating Income Is less than 20 per cent of his gross income. He'll get an increase bringing his net operating income up to 25 per cent. What are gross income and net operating income? Gross Income is !iis total income before expenses. Net operating income Is simply what he has left of his gross to::ome Bfter (1) paying expenses—including taxes—and (2) making allowance for depreciation, on his property. For example: Jones, a small landlord, got .51.000 in rent from his four apartments. That's his gross Income. His expenses for keeping up the apart- tents. Including taxes, plus an al- ...U'ance for depreciation, come to $800. The $800 was his operating expense. Since he got 51,000 in gross income, he was left $200. That's net operating Income. In other words total income, minus expenses leaves net Income (Note: A small landlord will no be allowed more than 21 per cen nf his gross income for depreciation a large landlord will not be allowet more than 16 per cent of his gross Income for depreciation.) How To Figure Increases Here's an example ot a sma landlord who can ask for a rent boost and how he figures it out? Take Jones again. He had $1.000 gross Income. S800 expenses, and wax left with a net Income nf *200. which is only 20 per cent ol gross income. But he's entitled to a 30'per cent net Income. What does he do? He multiplies the expense ($800) by 100 and divides the result (in this case »80,OM) by 70 and gets SI,143. That »!,!« represents a rent increase of 4143 a year over the ^1.000 rental Jones got before. ™ So now his gross income is $1,143, His expenses are $800, an his net income is $343. whereas it used to he *200. So that »343 gives him a 30 per cent net income on his gross income of tl.143. In the case of a large landlord, the formula goes likes this: Multiply the operating expense by 100 and divide by 15 (not by 70, as in the case of the small landlord.! Note: it was pointed out that R small landlord gels a boost so that his net income—if it's now less than 25 per cent of his gross income— shall become 30 per cent of his gross income; and if a large landlord's net income In under 20 per cent, he'll get t> boost so it becomes 315 per cent. Musi File Petitions But what of the small landlord whose net income already is 25 per cent, or the large one whose net income already Is 20 per cent? Do they get boosted up to 30 per cent and 25 per cent? No. But doesn't that mean the landlords who now are making less than these people will wind up making more? Yes. But that's the way the formula Is. If you're a landlord and think you're entitled to a rent raise under this formula, get a petition from your area rent control office. If you're granted the Increase, It starts from the aate you filed the petition, not the date on which the government finally acts. Why? Because petitions mny pile up Ir the rent control office, awaiting action. So a landlord, due to no fault of his own, would lose mono , unless his increase started from thi day he filed his petition. A tenant must be notified of i proposed rent increase before th rea rent office can grant it. H an appeal the area rent decisio o the regional and national offices Russians Point Black 'icture oi Conditions For Workmen in the U.S. MOSCOW, May 4 Vi— Russia periodicals have been painting alack picture recently of cond lions in the United States. A report on unemployment New York was headlined in Prav da yesterday: "Sharpening of EC nomic Situation in United States The article said: 'Information from other cities' bears witness that, due to the growth of unemployment, millions of workers' families are dragging out a beggarly existence." Last month the Literary Gazette told its Russian readers: "Poverty and stagnation are the fate of millions in the U. S. A. The position of the workers In the United States Is systematically deteriorating." A few dayr later Trud. a tr«de union organ, said. "The economic situation of the American workers continues to worsen. A reduced vorking week with reduced wages Is being introduced In many enterprls 5 and will lead to a further reduction in the purchasing power of the population." Wide circulation has been given recently to critical comments by Russian writers on the subject of the United States. WASHINGTON, May 4 (IF\ — Gen. Cliilre Chenmult said yesterday the security of the United atrs is at stake In Chin* and laded for "positive action" to d anil-Communist forces there. The wartime leader of the "Fly- B Tigers'* told the Senate Armed irvlces committee that the best ar[ of Chins already has been lost Hie Communists "by our passl- ly." "If we do not act soon, nil China ill be losl." he added. Tlie retired air force officer, now ead of a commercial airline In blna. jrged xt least a minimum rogram of aid so the antl-Com- Timlsls can hold a "beachhead for le resurgence of Chines* natlonal- sm." Specifically, he said there are vast stockpiles" of arms In the 'hillpplncs and other Pacific areas hat could be used. Gravely, he warned that Russia standing "on the brink of un- hnited successes in the Far East.' And if China is swallowed up bj he Communists, chennaul. said Indo-Ciiina, Malaya. Slum, Burma and Indonesia also will fall lo the 'onummlsts. Iti turn he said Communist cupalion of Southeast Asia "will | bring srave pressure upon India atiti encourage to Soviets to resume Ihclr inteiTiipled drive Into the critical region of the Middle Enst." OKLAHOMA CITY. May 4 Wi— Should auld acquaintance be lor- got. and never brought to mind? Absolutely not, thought vice squad officer Ray Peddlcord when e saw an old familiar face behind a steering wheel here last night. "There's a bootlegger I haven't een for years;" lie explained to its fellow vice squadder, Officei Joe Birdwrll. The two coppers pulled over ir heir prowl car for a friendly chat vllh 51-year old Allison Shadilck AllUon said he'd been oul In Call- 'ornla for a while, where Hie laws aren'l so dry as Ihcy are In this prohibition state. Just for auld lang syne, the I wo officers decided to see If SlindrltV. was lakiug any cups of frlendshl! anywhere. He was—452 pints ot 11. Two Killed when Truck Crashes into Wagon Commissioner ol Revenue* of Ins ita'e ot Arkniusiis lor permit to ell anc dispense beer at retail on he premise* described M 301 S. Kim, Blylhevllle, Mississippi Coim- Tlir undersigned slates thai he s A dtUcn ol Alkans&s, ol good iioial'chaiaeter, Ihit he has never) been convicted of a felony or other crime Involving moral turpitude; thai IK- license to sill beer by the undersigned has been revoked within five years last pasl; and tint the undersigned has never been coni'lcled ol violating the laws of this state, or any oilier »Ule, relative to the sale of alcoholic liquors, Application Is lor permll lo be Lvsm-d lor operation beginning on the 1st nay of July 1M9, and to expire on the 30 day of June, 1950. Lucille Rockell Subscribed and sworn to before me llili 2nd day nf May 1949. Mrs. Marshall Blacknrd Notary Public My Commission expire*: Russians Borrow Rubles Invoke Lottery Scheme To Pay Interest on Loan HOXIE, Ark., May 4 M'l—Two persons were killed Instantly Iwo miles south of here yesterday when the wagon in which they were riding was struck by a large truck. Slate Patrolman Ad Schug Identified the dead as James Sparj;o, OS. and his wife, Ellen, 6'J, who live south ol Iloxlc. The accident occured on Highway 67 when a ruck driven bj Melton Dale Hair, claremore, Okla. Rltempied lo pass the horse drawn wagon, the officer said. The truck was owned by Thurman Implement Company of claremore. The wagon was demolished nnd one horse killed. Damage to the Iruck was slight. LONDON, May * (/P) —Soviet Russia announced plans today lo jorrcw 20.000,000.000 "ubles (about 54.000.000,000 at the Russian Imposed rale) from its own people to spur lt.s national economy. Interest will be paid as lottery prizes, a customary practice In Russia . Moscow radio gave details of the loan, fourth since the war, In Russian-language broadcast hearc in London by the Soviet monitor. The loan is to be paid off In 20 years. DEAL'S PAINT STORE 1119 Cut Main fhont 44KS Soviet Pilots Decorated MOSCOW, May 4 Wj—The Sovie Union announced today that ion Russian pilots, have been decorate: for "mastery of new-type avlatlo techniques^' There was no indica lion what the technique were. Baptists Ask Truman To Visit Assembly WASHINGTON, May 4. W) — President Truman was invited today to spend August at Green Ija Wis-, at the Baptist Church Assembly, a church property. The invitation was extended by Dr. C. Oscar Johnson of SI. Louis president o fthe Baptist World Alliance. Dr. Johnson also invited the President to the Baptto World Congres at Cleveland. O. .Inly 22, 1950. The Congress meets every five years. Dr. Johnson said Mr. Truman toll him he would "make every possibl 1 effort" t,o address the Congress, bu did not commit himself on the vis! to Wisconsin, The sun eclipse In May, 1948, wa photographed and studied by var ious scientific expeditions along 5,300 mile arc from lower Burma I Ehe Aleutlana. NOTICE Notice Is hereby given thai the nderslgiied ha.s filed with the Commissioner of Revenues of the tate of Arkansas for permit U> ell anil dispense beer at retail on he premises described an 120 W. .Iain St., Blytheville, Mississippi bounty. The undersigned slates that he R a citizen of Arkansas, of good moral character, that he ha.s never been convicted of a felony or other crime involving moral turpitude; .hat no license to sell beer by the undersigned has been revoked within five years last; and that :he undersigned has never been convicted of violating the laws of Ihis state, or any other state, relative to the .sale of alcoholic liquors. Application is for permit to be issued for operation beginning on Ihe 30 day of June 1919, and In expire ort.the 30 day of June. 1960. Welch Foster Subscribed and sworn to before me this 3rd day of May 1949. Charles S. Bittiier Notary Public My Commission expires: 5-16-50. C-4-49 NOTICE OF FILING OF APPLICATION FOR LIQUOR PERMIT Notice is hereby given Ilial th undersigned has filed with ih Commissioner of Revenues of II Stale of Arkansas for permit to se and dispense vinous or spirltuou liquors for beverage at retail the premises described RS 303 Vi Main, Blytheville. Application is for permit lo be sued for operation beginning on I 1st day of July 1Q49. ami to BX[) on the 30 day ol June, 19M. George N. John* 5-4 SHEET METAL WORK Dud work, blowpipes, gutter . . . all,type*. For expert w«rfc call Taylor Laylun, 82S. 112 North Flrnt, Blytheville Tin Shop 1 Tlt< III fltllni, loom ftifovd that (W* nnt "hiif th* miklf " is mnde sum miri romfortahlr hrrr. Kinest work at lemonabk ro»t. H-fl LT€RS UflLlT Y SHOe SHOP i J w ^ a , K< s T 111! (,l{\M : -> OSi I ul \ Phone 521 Phon. 30751 FOR SALE i.'oncreli oulT«rls, I* Inch to 4fe Inch, plain or reenrurced Alto (.Nuu'tvlf HulMIng Kti»rk» chrup- ei than lutnbri Coi barn ft ohlckrn tiuusra, pump houxcjt trrmnt hnuM*!, tool nhrd» W* deliver Call UK for free e*tlra»l« , . nil one 691- OSCEOLA TILE & CULVERT CO. RADIO REPAIR 1 ind £-l>ay HerHre un Any Mike or Model Reliable Workmanship Phone 2642 We Call Km nlid Deliver Fred Callihan CANVAS AWN INGS NOTICE Notice I* hereby given lhat the undersigned has filed with the Jackson's Duel Andrew Jnclt&on, some 30 years before h« waj elected president, challenged Charles Dickinson to a duel because Dickinson insulted Mrs. Jackson. Dickinson was killer! and Jackson was severely wounded in the fight. Say H With Flower* THE FLOWER SHOP Glencoe rtuildlnic Phone 4191 or 2747 A SMALL INVESTMENT PAYS BIG DIVIDENDS in PRIDE and COMFORT • Make this the most enjoytblt summer in your life. Be cool and comfortable with bright, new canvas awnings—made to fit right with the finest materials. Colorful painted stripes or woven stripes are yotirs lo choose. Cost is small in comparison with the satisfaction they give. Estimates are free ... so telephone today. Our name is your assurance of highes< quality and value. Carney Awning Co. Appliance Co. Authorized M<ilorulii Stilos Service 1(1(5 So. 1st. St. I-Have At Alt Timei For Sal* several (ractori and equip Ifoth new and uied i lure Orerc, Farmail, Ford and otkur make*. I now have new Ford Irartiin and equipment read; f« Hrllverv al dealers' price. I win lr;ulG rnr mint anything yom li.ive. Terms can b« arranied. See f. C. CROWE I mile vmlh ol Braggadocio, Ucul R ('amorn for • Color Pictures The 1 drill \vaj lt> rrniRmhrr aptrlml mTUKlniu. Al*n other typc-i of camera* fur rent. BARNEY'S DRUG STORE 2<)0(i \V. Main Phone 3(117 BEN WHITE & SONS GENERAL CONTRACTORS MAIM OFFICE NORTH TENTH Phone 3151 113 So. Itt Phone 2972 Open For Business Rollison Lumber Co. NORTH 10th ST. AND CAMP MOULTRIE DRIVE Arkansas and Mississippi Yellow Pine One Board or Truck Loads OUR PRICES ARE RIGHT IF WE DON'T HAVE WHAT YOU WANT WE WILL GET IT 0. S. ROLLISON Electric Ranges Hom RESIDENCE PHONE 3309 10% Down and up to 2 years to pay On All Appliances! Take Advantage of These Really Easy Terms! FURNITURE REBUILDING 'l'li« of Charm can really make ynur present furniture like new again! \y e n j, fer IruJj •uptrlor workman- ihlp, a wealth ot selection In upholster? fabrics at every price level, and 10 Hay service. Call for 11 free estimate. House 01 Charm llmmle Deal Kemp \Vlilsenhun Wil Main rhnnci: 46^1 or 1169 electronic PIANO TUNING yum- piano tuned th* perfect way. Radio Repair AM-FM-Tclevlsion Every ,fnl> Guaranteed Shcrt Music — Radios - Kccorus — Everylhinf In Music BROOKS MUSIC STORE 1 07 E. Main Tel. 811 MODERNE BEAUTY SHOP Tormcrly hum's. Beantj Shop Mildred Vfncent Marie Rrulfiry Kaynniie WafTler Sleep COOL this summer HUBBARD&HOKE Appliance Co. N«xt Door to Hubbard Furniturt Co. UNIFORM Headquarters • Baseball • Softball Get Our Prices TAX! and TRUCK DRIVERS UNIFORMS All Colors • Gabardine $12.95 HUDSON Cleaner-Clothier-Tailor No mors sleepless nights when you have a | CoolairFan! FHA terms, i Ask for installation estimate. NOW! BUILDERS SUPPLY CO., Inc. W. H. rcas« 1- Wilson HeM? Sonlh Hlfhwaj (1 Phone 2*31

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