The Courier News from Blytheville, Arkansas on December 19, 1950 · Page 7
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The Courier News from Blytheville, Arkansas · Page 7

Blytheville, Arkansas
Issue Date:
Tuesday, December 19, 1950
Page 7
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TUESDAY, DECEMBER 19, 1950 BLYTHEVTLLE, (AKK.) COURIER NEWS Senate Sets Stage for Approval Of Multi-Billion Dollar Tax Bill WASHINGTON, Dec. 19. (AP) — Senate leaders set the stage today 'or swift approval of a multi-bil- , Hem dollar excess profits tax bill. • Optimists among them said they •til! hope to have the measure on It* way lo the White House before nightfall Saturday. Others thought Hnal approval may have to wait until after a brief recess planned over Christmas. The Senate Finance Committee approved the bill last, night, announcing plans to call up the measure for debate tomorrow. Chairman George <D-Ga) predicted the Senate would pass it Thursday, by a top-heavy majority. But he indicated he sees only an outside chance of getting the Senate and the House, which approved a somewhat different version, to agree on revised terms of the complex measure by the Saturday deadline. Yule Recess Sought Congress has been aiming for a Christmas recess to start Friday. George said it should go through with these plans unless final lax agreement on Saturday can be I guaranteed. I Tax experts on his staff said an i accurate estimate of probable revenues from the bill Is Impossible now, although they expect it will Siroduce well more than $3,000,000.090 in its first year. George agreed. He said it probably would take a year-for tlie measure to start bringing in the $4,000.000,005 yearly President Truman hns requested. The bill proposes a heavy new tax on corporation earnings assumed to have resulted directly or indirectly from the government's big defense spending program. It also will boost the existing corporation surtax rate of about 100.003 corporations from 20 per cent to a new level of 22 per cent. ' Kelrnacllve For Some For some affected taxpayers all of the nex tax load will be retroactive to last July i. For the rest, only the excess profits levy—which hits 70.000 corporations—will be retroactive. The committee, before approving the bill last night, sliced more millions off its anticipated yield by softening terms of both proposed tax hikes. It made no estimate of these changes in dollars. The excess profits tax bill's new amendments provide more liberal exemption credits for firms which, after prolonged periods of' depression, finally have hit a period of prosperity. It also provides more liberal credits for corporations which have materially increased their productive capacity and are just beginning to reap financial benefits from the expansion. The committee originally designed the income surtax boost to be retroactive to last July 1 for all of the 100.000 firms that will pay it It announced a partial change of heart 'last night, that would mean a break for 15.000 of those firins. Under that change, firms that run their business on a calendar year basis, or whose fiscal years started since July 1. would be exempt from the surtax boost until 'next July 1. The other 25,000 would pay as originally scheduled—starting last July 1. In general, the bill would impose a 75 per cent levy on earnings which exceed 85 per cent of the average of the best three years from 1QW through 1949. California Railroaders to Play Santa Claus for Ailing Pal DTJARTE, Calif.. Dec. 19. (AP) — Banta Claus in the prseon of railroaders on the Santa Fe Los Angeles Division comes to their ailing pal. 18-year-old Jill Miller, on Thursday. Ever since Jill and her mother, Mrs. Freda B. Miller, moved into their house near the tracks in 1947. Jill from the front porch had waved and smiled at the engineers and trainmen on the passing trains. Track supervisors and signal mam- tamers, zipping along on little motor cars, also got greetings. In turn, they dropped off magazines and newspapers for her. But a year ago they missed jill. Then a sign appeared lu ner winSov: "Sick." The railroaders inquired, found she had been stricken with rheumatic fever and presented her with a few Christinas trlnklets last year. Now she is a cardiac invalid, abed indefinitely. Yet daily Jill flutters a little yellow flag in her window, signals at night with a fiashlght, in place of her personal-waves. So this year the boys of the division are giving'her a whopping Christmas party. They'll present her with an electric blanket, a platform rocker, an ottoman, bedjack- ets ami other items made by railroaders' wives, and a huge mirror for her wall so she can watch the reflection of the passing streamliners, the locals and the freight trains. - ' Engineer O. D. Kclley of San Bernardino, Calif., with whom Jill corresponded, will head the Santa Claus delegation. Jill's .doctor.says her railroad friendship has given her a definite mental lift hi her struggle for health. The cigar originated In the Spanish West Indies. LIFE-SAVING GIFT—Hanging up her autographed cardboard replica of a blood container on a Christinas tree, Actress Anne Jeffreys joins the ranks of those contributing to the Hcd Cross blood bank during Ihc holiday season. A mobile blood unit of the Red Cross was set up on the stage of a New York (heater to receive donations from show folk. I.W.HARPER The Gold Medal Whiskey Bottled in Bond Kentucky Bourbon'» always a pleasure 100 PROOF • HMUCI* iMMCHI lOUfHON VfflliHY • t. W. HURffl miTIUmC CO., lOUISVIltt O. r Holy's Merchant Fleet ROME (AP)—The Italian merchant fleet reached a total of 2,722,822 tons with 1,115 ships by the end of September, it was officially disclosed. The Italian merchant fleet was down lo 400.000 Ions at the war's end. Purchase of U.S. iiUerty ships and building of new craft under the E.R.P. program has steadily increased the tonnage of the Italian merchant marine, now almost at its pre-war peak. Yugoslavs Charge Red Neighbors at Inciting Frontier Incidents with Inciting us border incidents ever the past six nonths "at the dictation of their Russian masters." The charge, made In the official government cnsect Ron BEI.CiUAUE, Yugoslavia. Dec. IS. cnsect Romania of tiernolritliK, ...V-Yusoslavlii charged four of her Incidents, Hungary so S-ir a comlnform neighbors last night I and Albania ie liu 'B=">a. newspaper Fiorba, ac- of perpetrating The comment was In reply to • """•- note received from Hungary accusing premier border forces of Marshal provoking Iricl- Brazil occupies South America. "bout, half of FITZPATRICK'S •^f^- FOR A CHRISTMAS FILLED WITH HAPPY HOURS 't/r FamftUt M/nf^-lio, „,» Our Famous Wofcries or« always cash-priced on f/i» easiest possible budget terms Here'* f/ie pick of St. Nick's Gift Watches .,. o style for everyone, a price for every budget! IADY ELGIN. fncaiHlin 14K natural gold, I9/«w«f mov«m«nr. Charge ill $71.50 ml HAMILTON "noiifild". !7 jewel movement in a MK gold c;ise. 1SK numerals, tliiirge It! $66 GKUCN CURVE* "Covofi.r". Curvtd ."' for a mon'i <omforl. HorKJiomt ' brauftl. fay lain! , /$49.50 > for o lovtty lady, b,aulilul !„ Ht u ,i tr ,; mp i kilY , JI.25 wtMyl . »• .' J : ; ^47.50. UUI.OVA "Goddess of Time". She'll adore (his dainty beauty. Open an account! $39.75 ^m "S Clinton "\V. P.". Your G. I. or ( ; spnrlsniiin will wnnt lo own this 1 jewel Waldi. $1 00 " cekly! $27.50 I-ONGINES. Smart, modern and accurate. 17 jewels movement. Easy terms! £7/50 V i HKNKUS "Peony". A liny treasure with a 17 jewel nre- cision movement. 51.50 wcek- $62.50 n GSUffV "Bride". Deluxe crea/i'o 'or your dar/l'ntj — a Ifyrvnrnglv -'" n'gned original. $71.50 4 ^ ' BULOVA "Wo/Ion". A burfgel- priccd wolch, fugged and r>--~id- ablt all yeot. 75t w>etft/ .4 All waich pricei incl. f«l|. (lx Pluck the stars above for your ladylove . . . surprise Her wilh one of these accurate, rhinestone cations! Beautifully gift-wtapped at no extra charge. What a timely oppou unil y to P" '•' a wonderful watch for Him, lor Her, for tveryone-so very lo* • priced you'll be »'P"" d!c X we'll never wll-for they re»»> look so much more expensive. 'It Takes Only" 3 Minutes to [Apen a Charge Account! 1 Open till 9 p.m. each night, Fitzpatrick Jewelers 122 W. Moin • Choose Your Gift' Wotch Today. Pay Us in 1951. Phone 2728

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