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The Cumberland News from Cumberland, Maryland • Page 4

Location:
Cumberland, Maryland
Issue Date:
Page:
4
Extracted Article Text (OCR)

Cumberland Hewv Thursday, Qctebtr WS Baltimore Maryland Briefs Bond Sale BALTIMORE I A difficult bond market, caused by New York City's financial woes, may force city officials to a $30 i i i i a bond sale next a i treasurer said Wednesday. Herbert White said interest rates in the bond market were "extremely high" and might make it impractical for the city to venture into the sale until the situation stabilized. He said, "Faced with the alternative of high interest a i i allocating last year's surplus on a pay as you go basis for this year, and maybe not even hold a bond sale at all. we skip this year we could a a a a year." He said the surplus and various short-term investments could i a the capital im- a i i a covered by the bond sale. He said the city's most recent bond sale, last March, attracted an interest rale of 6.87 per cent and that current market rates were more than eight per cent.

In 1974, he said, the city's ef- fective rate was 5.53 per cent. Charles L. Benton the city finance director, said "If we had to market our bonds today, we would be faced with in- tolerable interest rates." The final decision will be made in a a by the Commissioners of Finance. They said the immediate affect of a postponement would be a slowdown in the city's i i i a struction program. Burch Rules On Insurance Company Tax A I I Maryland Attorney General Francis B.

Burch said Wed- nesday that taxing insurance companies on both corporate income and premiums written in the state would not violate constitutional prohibitions on double taxation. i a i i requested by William S. Rat chford, director of fiscal ser- vices, said the double taxation statute applies only to properly taxes, not excise or special taxes which would be imposed on insurance firms. Burch said insurance com- panies license'd in Maryland pay a two per cent tax on in- surance premiums written in the state, but are excempt from taxes on their net income, which is partially derived from premiums. The Senate Commmittee on Budget and Taxation is con- sidering repealing the in- surance companies' exemption from corporate income taxes.

To soften the impact of the two taxes, Burch said the General Assembly may enact, i a i i i a deduction from adjusted gross income, or a credit against taxes due, for i taxes paid by insurers. Brewery Firms Merger Deal To Close Oct. 31 A I I r- The National Brewing Co. and the Cariing Brewing Co. Tuesday agreed to merge, with Cariing absorbing the brewing assets a a a Baltimore-based company.

National's interest in the Baltimore Orioles was not in- cluded in thetransaction which must still be approved by National's stockholders, but officials said they expected to close the deal by Oct. 31. Under terms of the merger, Jerold C. Hoffberger, president of National, would be chairman and chief executive officer of the consolidated company, Cariing National Breweries, Inc. i a Tennyson, president of Carling-O'Keefe of Canada, the parent company, would become vice president of the board.

The new company would be the i Jargest i concern in the United States with its corporate headquarters located in Baltimore. A spokesman for NalionaJ said there would be no change in the products or manufac- turing of either partner. He denied reports that Nationals Baltimore plant would be closed in favor of Carling's newer local facility. Cariing owns five plants in Ihc U.S.; National owns twt National, the last locally owned brewer in the Baltimore area, owns the labels Colt "45, National Premium, National Bohemian, and Malt Duck. Cariing manufactures under the labels of Tuborg, Black Label, Heidelberg and Stagp A I A A 34-year-old blind man who moved to Baltimore one month ago died late Tuesday at Church Hospital here a being gunned down in an apparent robbery attempt while walking near his home last week.

Michael Martin, who had been i i i a Baltimore after moving from Johnstown, was found lying on a sidewalk near his home Oct. 8, suffering from four gunshot wounds to the head and one to the chest. Baltimore city an- nounced Wednesday they had arrested Ranson Hamlet, 33, of Baltimore, in connection with the shooting. Hamlet was originally charged with assault by shooting with intent to murder, but homicide detec- tives indicated that would now be changed to murder. ELKTON, Md.

(AP)--The staff of the Health Services Cost Review Commission and Union Hospital's largest auxiliary have both objected to the latest contract for pathology and nuclear medicine services at the facility, even though it was reduced from $433,000 to $293,000. a hospital's attorney, contended at a four-hour public hearing held by the i i Tuesday night that the latest contract was approved because "when you're dealing with a monopoly, you don't have very much choice." The Third District Auxiliary, noting the hospital operated at a deficit last year, criticized the arrangment on grounds it was out of proportion 'to those of i a a hospitals. The commission in August objected to the $433,000 paid to Dr. Pielro U. Capurro for pathology and nuclear medicine services.

The hospital's board subsequently began a study and recently approved the revised contract. A A I A a a i a i i a have released a i i showing Maryland's 1975 corn crop will reach a record 48.4 million bushels. An Oct. 1 survey by the a a a a Reporting Service indicated the harvest will reach 88 bushels per acre, one bushel more per acre than estimated a month earlier and four bushels an acre over last year's yield. reporting service showed million pound tobacco crop, the second smallest since 1945; a 76 million pound apple crop, up 11 million over last year, and 326,000 hundredweight of sweet potatoes, up 11 per cent over 1974.

I i I A' single alarm fire early Wednesday forced 12 persons to flee their apartments and heavily damaged the upper floors of a three-story i i here. None of the occupants were i a i a Thomas Harry, suf- fered a strained back when he attempted to break down 'a door. i i units on the second and third floors of the woodfrarne structure in the town's old business district were heavily damaged. A restaurant on the ground floor sustained only i water damage. A a Reisterstown Volunteer Fire Department said the blaze broke out around 12:56 a.m.

in a i floor apartment and spread quickly. Four units from i i i i joined in bringing the fire under control around 2:56 a.n.. SALISBURY, I i i i representatives met with local businessmen here Wednesday to discuss the Eastern Shore's potential as an onshore support base for proposed offshore oil exploratio'n along the A a i coast. The meeting was organized by the a a i Committee, a group of com- munity businessmen. John C.

Smith, co-host of the a and president of Dresser I i I petroleum equipment division, said the industry represen- tatives included the American Petroleum Institute and oil company executives. Smith said Salisbury, though it lies more than 30 miles from the coast, could play a major role in offshore oil development because it is the transport center of the lower FJastern Shore. ELLICOTT CITY, Md. I Some 20 families in the flood- prone Elkridge area have been advised by Howard County officials not to return to their damaged homes while Ihe county provides them with temporary housing. Officials expressed an in- terest i a i i a destroying the homes along the Deep which frequently overflows in a a i i a i streets and private property.

State BPW Votes Funds For Bicentennial Drama D.C. Files Suit To Stop Shuttle Bus Service WASHINGTON A The District of Columbia govern- ment has filed suit in D.C. Superior Court to stop shuttle bus service between the Mall area and parking lots at RFK Stadium and the Pentagon. The shuttle service, with its $1 round trip fare per adult, was started this week by the National Park Service as it eliminated about 600 short term parking spaces in the Mall area. The on-streel parking was ended as the two interior streets on the Mall were ripped up to be replaced with pedestrian walk- ways and The suit contends Landmark Services, which runs the shuttle buses, has not complied with District law in registering the buses and licensing the guides used on the buses, said city spokeswomen Kathy Ross.

The suit seeks a preliminary injunction to stop (he bus ser- vice. ANNAPOLIS (UP!) The state Board.of Public Works Wednesday approved a budget for the next two years for the state's Bicentennial Historical Drama, enabling plans for the production to continue on schedule. The board routinely approved spending $49,000 during the present fiscal year and about $150,000 during Fiscal 1977 for the actual production. In ad- dition, the board will have to pay for renting a stage for the a a a Merriweather Post Pavilion in Columbia. Part of the $49,000 will be used to pay for the service of Fague Springmann as producer of the drama.

Springmann'will con- tinue teaching part time at the University of Maryland next year and will devote the rest of i i a production. State Bicentennial Chair- woman Louise Gore told the board the requested budget, though modest, was one "we can live with." The state's historical a a dealing with Maryland's role in the American Revolution, is being written by playwright Paul Green. Little Known Railroad Near End Of Line SEAT A A (UPI) The East Washington Railway may be headed for the end of the line with most people not aware that it even exists. The little railroad, which has made a profit for years hauling coal to a Pepco plant, once was known as the Chesapeake Beach Railroad when it carried thousands of passengers trough picturesque Southern Maryland to the Bay. The railroad- has carried freight only for the past 40 years.

But in the early years of the century it specialized in a a a i a i Washington area residents to the beaches in Calvert and southern Anne Arundel counties. In 1921 the "railroad carried about 352,000 passengers. The Depression and the automobile led to the end of its passenger a i in 1935. The Western Shore beaches later declined in popularity because of the sea nettles that forced beachgoers to the Eaasern Shore. Woman Rescues Three From Hire Going Back After Her Dog SKIPTON, Md.

A A the flaming building to get her frame, house-, woman who helped three other dog, authorities said. Mrs. Bowie awoke first, they Investigators said Louise B. got everybody out oi Bowie, 64, and the three others the i i house, then persons escape from a fire in her house died early Wed- nesday when she went back into were sleeping in the two story returned for her dog. HCUSE THURSDAY OCTOBER 16 Come To The Celebration International Credit Union Day! You're invited to visit First Peoples Com- munity Federal Credit Union during this one-day Open House Celebration.

Talk with the friendly staff and learn how easy it is to become a member of this fast-growing financial organization. See You There! FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION FREE COFFEE COOKIES GIFTS FOR ALL Open 8:30 a.m. to 4:30 p.m. 220 South McMullen Highway Phone 729-4422 WED; SAT. OCTOBER 15 thru 18 BANKAMEKICARD OX MASTER CHARGE THE FAMILY PLACE TO SAVE SUPER DISCOUNTS FASHION BARGAINS GALORE DURING OUR OCTOBER SALE BUDGET STRETCHING OCTOBER HOME BUYS! CAPE COD RUFFLES $1.98 36" Reg.

LENGTHS Pr. Pr. VALANCE SWAG 2 37 OCTOBER SAVINGS ON LINGERIE NEW COMFORT TOP KNEE HIGH NYLONS $2.98 press blend of 50V. 'polyeslej and rayon. Oainly frame ruffles Tiebackj included.

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i carry slrap and earphone. (9V battery "FRESH FRAGRANCE" SHAMPOOS 97 JM aW EACH Non-alkaline. Choice of 6 exciting scents. LIMITED QUANTITIES NO RAIN CHECKS -MURPHY'S COUPON- BAYER ASPIRIN 78 WITHCOUfON BOTTLE OF 100 COM OCT. IS Urn IS COUPON' NEW (HARM DETERGENT 3 FOK Pink lotion, to hands, ideal for dishes, firm fabrics.

MOUNTAIN OF CHOCOLATES 99 POUND Malted milk-balls, bridge coated peanuts, chocolate stars, more. O.C. STORE7 Moxt Specials Available at Murphy Stores DOWNTOWN CUMBERLAND- PROSTBURG KEYSER PIEDMONT WESTERNPORT.

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About The Cumberland News Archive

Pages Available:
215,429
Years Available:
1938-1977