The Courier News from Blytheville, Arkansas on November 29, 1950 · Page 12
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The Courier News from Blytheville, Arkansas · Page 12

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Blytheville, Arkansas
Issue Date:
Wednesday, November 29, 1950
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Page 12
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PAGE TWELVE BLITHE VILLE (ARK.) CXJUK1KR NKWS NOVKA1BKR :», I960 Key Portion of Profits Proposal Now Faces Committee Veto Threat By WILLIAM F. AKBOGAST WASHINGTON, Nov. 29. (AP) —I A key portion of the administration's W.000,000,000 excess profits; tax proposal faced the threat today; of a House Ways and Means Com-I mitlce veto. : Split K to n on a test, vote yes-' terday, the Committee sought agreement today on a definition of what are "excess" profits. At Issue: !s whether to exempt corporations from such a tax on their entire average 1946-1949 earnings or only on the first 75 per cent of the average. The Administration proposes to define excess profits as any earnings which exceed 75 per cent ol the average of the best three years out of the four from 1946 through 1949. This initial three-fourths of the average would be taxed at present corporation income rates, ranging up to 45 per cent. Any profits above that would be taxed at the 75 per cent rate. GO!' Opposes Law Republicans on the Ways and Means Committee generally don't want any excess profits tax law enacted, instead, they favor a hike in existing corporate income rates and claim it will produce as much or more than President Truman's proposal. Yesterday's tie vote, slated for reconsideration today, demonstrated that Republicans have picked up at least two Democratic votes on the committee. It is made up of 15 Democrats and 10 Republicans. One Democrat was absent yesterday. Once It decides whether to give corporations full credit for their 1846-49 average Income, or only 75 per cent-, the committee must determine the rate of tax to Impose on the excess. Should full credit be allowed, the rate ol alx may be hiked.to 85 per cent. The committee hopes to have bill ready by the end of this week. Tentative plans call (or House passage next week. Whether the Senate will get a'rour,,? to acting before the end of the y/'ar is questionable. The House committee yesterday tentatively approved a formula for allowing interstate water, gas, electricity, telephone and pipeline companies to compute excess earnings. ' These companies generally are held . by regulatory bodies to a maximum Income of 6 per cent of their capital and invested earnings after payment of normal taxes. The committee decided to allow them any regulated earnings before applying the excess profits tax. OFF SEASON EXCURSION—The excursion boat City of New York which runs from Manhattan to Keansburg, N. J., during the warn weather, wo.s driven ashore at Keyporl, N. J.. nftcr winds of near hurricane force broke it loose from its winter mooring In Raritan Bay. a mile away. (AP Wirephoto). ' Death Toll, Damage Grows As Storm-States Clean Up Tito Government n Celebration 5f 7th Anniversary BELGRADE, Yugoslavia, Nov. 29, PI — Marshal Tito's government taged an austerity celebration to- ay to mark the seventh annlvcr- ary of the Yugoslav republic's wai .me creation. Opening the two-day fcslivltic spokesman defiantly told tht ountry's comfnform foes "we can- ot be broken." The drought-stricken, hungry na- ion dropped such frills HS lasl ear's big torchlight parade. But he capital was decked with flags unling and extra lighting, and hook lo the boom of noon and ivnnlng cannon salutes. The challenge to Russia and the Comlnform neighbors was uttered »y Boris Kldrlc, boss of the coun-, ry's economy and planning mem-] >cr of the Politburo, speaking at| an opera gala last night. Tito and nembers of his hierarchy attended. Mink Aids Flood fund VANCOUVER. OPj—One live mini: was worth $400 to a fund to aid Manitoba fur ranchers -.wiped out by last spring's great Red River floods. It was auctioned on" at the annual dinner here of the Lower Mainland Fur Breeders Association of British Columbia. Th« amount will be .sent to aid fellow fur ranchers In Manitoba. 'J'he cliriiate of the Gran ChacO of Paraguay Is like that of southern Florida. Voo/ fxport futh^d KARACHr, Pakistan. <Jfi— Pakls- an this year alms at a record ex- Tort of 25,000,000 pounds of wool. There has been an increased de- nand for Pakistan'wool from world 'ennsylvaiila and Ohio and other areas. There were a lew flurries in the it. Lawrence Valley and over '.he Great Lakes area. Temperatures re- nained below normal from the Mis souri Valley eastward but were at or bolow the freezing mark. Thi- Weather 13riu6au said no heavy snow fall was in prospect immediately. markets in recent monthi. Thb t> due to three reason*: China It not exporting any wool, India has Imposed a ban on wool export, and Tibet will not be In » position to export with the Chinese Invading the country. E/y'oy t6e whiskey tfeti *C6eerfu/4s t'ts /fame* Sunny Brook • HAND White Label KENTUCKY STRAIGHT BOURBON WHISKEY Yellow Label KENTUCKY/ WHISKEY BLEND !6 MOOf It PROOF' .McKESSON & BOBBINS, Inc. - Exclusive Distributors - Ljjlle Rock Public Service Commission Ends Phone Rate Case ' LITTLE ROCK, Nov. 29, WV— The Arkansas Public Service Commission Iia.s concluded its bearing on Southwestern Bell Telephone Company's application for a $4,620,000 annual rate increase in Arkansas. Attorneys representing the initi- pany, opponents of the rale increase and the commission will sulimiL written briefs before a decision is reached. Testimony at the hearing was Bj- THE ASSOCIATED PRfcSS Big industrtiil centers in the storm- lashed Eastern States appeared moving toward near normal operation. 1 ; today. But a big cleanup Job remained In many areas.lit looked like a slow and tedious fight before resumption of normal activities in some of the hardest hit sections of the storm belt. completed late yesterday. It stai'.cd Sept, 5 and had continued at intervals since. The death toll mounted to nearly 300 from the savage weekend storms which whipped over areas in 22 Ens- tern and Midwest states. Damages continued to grow. Uncounted thousands suffered privations. Many still xcre without heat, electricity or telephones. The damage to property from the snow, winds, sleet anil rain was estimated in the hundreds of millions of dollars. There was no heavy snow or severe. cold today to hamper the thousands of workers engaged in clearing huge piles of snow throughout Hart, Schaftner & Marx Clothe.* THEATRE OSCEOtt YOUR FRIENDLY THEATRE Special Thanksgiving Matinee Cont. Showing from 1 :30 p.m. THURS. NOV. 30 BLESSED EVENT OF THE ' ENTERTAINMENT SEASON/' Warner Bros, present anywhere In aiiii weather The new Trans World* is the most versalile cool yet to be devised ... a well-styled topcoat of fine cover! that becomes a winter coal when you zip in its wool that includes sleeves. The Gift* lining MEAD'S ,'P • . jr. r-'< Ill MAIN ITRIIT A. For' baby sister, a swishy rayon in candy pastels 1 Many more ai prettily detailed frocks, trimmed With lace or eyelet. See them [1-3, ' B. For 3-6X girls, rich rayon velvet dresses In radiant jewel tor 1 Bertha and Peter Pan collars, lace trims, tier skirts included! ^98 C. look al this elegant chenille robe! Warm velvety-soft ond tufted like corduroy. Lavish floral design on white/ blue or melon rose. 8-16. 3 98 Young buckaroos will really go for the dashing cowboy design on Jhe slrrt! Firmly knit of combed totton, Elasticwaist Irousers. 4-10. |98 E."Rudolph-the-red-no$ed reindeer" screen-printed on Ihis warm I -4 sleeper. Fleecy cotton knit. Mali* with red. Washable! |98 F. Klmky Klown slipper socks, with a bell that jingles! Padded leather sole*, red or blue all-wool socks. Hose sizes 6, 7 and 3. O49 G, Here's Rudolph the Red-Nosed Reindeer! Soft leather soles hand- jtikhed to red or blue all-wool socks. Small, medium and large sizes. 2 9S for aiH», wom»n. . .2.95 H. HopalcHig sweater to delight every 4 to 10 buckarool Jacquard knit of "Hopple" on front, "Topper" on back. Brown, navy or black. I. Cotton flannel shirt. ..perfect gift hit in blazing ploids boys want I Convertible collar, in-curter bottom. Sait- forized, 5-18. J, Wetftrn shirt orxJ fie >«t »tt« dash yoyftg 4 to 12 cowhand* ore clamorin' fof! Sanforized broad- "%" ckrtfc or cotton ftamwl. ft59 '

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