The Courier News from Blytheville, Arkansas on May 21, 1948 · Page 9
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May 21, 1948

The Courier News from Blytheville, Arkansas · Page 9

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Blytheville, Arkansas
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Friday, May 21, 1948
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Page 9
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New Income Tax Law Discussed ••fa* Rotariant Af Luncheon H«r« G. Them** MeHn-rtlh, branch Muucer of the New York Life Iu- *ur»nc* Company in Memphis •poke to nitmbert of the Rotary Club it their luncheon meeting at the Hotel Noble yesterday. Mr. McHwrath exfilnlned the new Income tax law which was recently pissed over President Truman's veto »-tth particular emphasis on the estate and gill tax lec- tloru of the law. He explained that the theory of the tax was that the husband and wife »r« business partner* and .is such each could claim one half of the earnings, each could claim the specific exemption and although two estates would be formed tlicv would b« placed tn lower brocket's and there would be two deductions rather than one. Mr. McEl wrath pointed out that the savings effected by the new lax law could be termed 'venture capital and turned into the building of an estate. The law Is sn adjust - ment to offset the hlfihcr cost of living and designer) In produce imi- Irom tax treatment for residents of common law or community property states, Where the gift tas Is concerned he stated that, a wile ciiuld claim a present one half interest In the gift from a husband and in that manner the gift tux could be cut in half, and further that both specific exemptions could be claimed as In the estate taxing system. For example he pointed out that a sfifi,- 000 gift to the wife could be almost completely tax free In us much us $33,000 could be claimed by her. »nd each was allowed a specific exemption of «33.0CO. In .the same. connection he showed whereas the old law required some $20.000 In taxes on a'$100,OOO estate the new law cut that amount lo $1.600. The marital deduction nils the property of the deceased by SO uer- cent, making It a $50,000 estate and cut further to a $20,000 estate and by the specific exemption, the tux on which is roughly $1.600, Mr. McElwrath said thnl to n large extent the gift lax provision of the new law would eliminate the requirement for paying on Income derived from Insurance payments. Some policies, he said, are being rewritten with wives as heiic- flciariw so that the benefit or deductions can be obtained under the new federal tax bill. In the individual Income tax he BLYTHETILH! (ARKJ COURIER Wounded Vet Gets Consular Post Onllicrmo Cnstro, center. Is congratulated by fellow patients nt Birmingham General Hospital, Los Angeles, after his appointment as Costa Kican consul Kencrnl In Los Angeles. The 27-year-old veteran of 1'arillc fighting will run his job from his bospil.il cot until discharged, lie come la Hie U. S. four years ago to cnlisl in the Army.' U.S. Sector in Berlin Closed to Red Agitators BERLIN, May 21. (UP) — Tin: United SUHe.s closed the American se:<or of Berlin lo Russian agitation today by banning circulation of a Communist-inspired Peoples Congress petition, demanding "unity" of Germany. The tan on Soviet agitation followed on the heels of official ac- lion yesterday in scaling the 203- mile border between tlie American ami Russinn zones to Soviet officials, permitting them only one entry i>oi.it nl Hehnstertt. It Is said that one-third of nil automobiles' on streets and hlRh- ways at any Klven time have something wrong with their brakes, started thai n relict of from 12.6 per cent to 5 [>er cent, according to the size o( the Incomn wn.s brought about by the new bill. Guests or the Rotarian.s at the meeting yesterday were: Joe Martin ot Osccola, n. A. Lynch aurt Jesse Taylor of Blytheville. TRY OUR DELICIOUS FRESH SALADS IN AIR-CONDITIONED COMFORT HOTEL NOBLE Coffee Shop Obituaries William W.Campbell Dies Here in Daughter's Home William Washington Campbell 186, died at the home of his daughter, Mrs. J. c. Webb, of 2124 Henley IStreet. at 6:30 last night following a six-month Illness. I Mr.' Campbell had lived In Bly- Ithcvtlle only a short time, moving here from Batesville, where he was born. He bad been a member of the Masonic Lodge fo r the past 61 years. Funeral services will be conducted tomorrow in Viola, Ark., with burial at the Flora Cemetery In Viola. Holt Funeral Home Is In charge In addition to Mrs. Webb he is survived by his wife, two other daughters, Mrs. H. C. Mosley of Bly, theville. and Mrs o. E. Dale of j BateKvillo; one brother. C. E. Campbell of Viola, und one sister, Mrs G. E. Barrett, of Oil, Ark. * * » Walter S. Burns, Former Blytheville Resident, Dies Last riles for Walter S. Burns formerly of Blytheville and brother "f W. M. Burns of Blytheville were conducted rn Little Hock loclny. Mr. Burns died at the Missouri- Pacific Hospital i,, Little Rock yesterday after being taken to the hospital Friday night, after he suffered :i hcrtvt attack at his home 31> Adknis Street, in North Little Rock Mr. Burns had been connected with the Missouri Pacific Rullroiv.l Company for ninny years. He mov- ' it to North Little Rock from Blytheville in 1920, He had lived here in lilylheville since 1888, when he moved here with bis family from He is suivived by his wife. Iwo ristcrs. Mrs. R. c. Ford, a twin, of Hot Springs, and Mrs. Oeorge Alle.i ;>[ North l.itlle Hock; and two brothers Jeff Burns of Forrest City und w. M. Burns of BlythevillD. Mrs. Jitn Burns, a sister-in-lniv. Hob Burns, a nephew, accompanied W. M. Burns to Little Rock for the funeral services today. Rend Courier News Want Arts, m loniglit nolicc the men vlio are enjoying their drinks lhe most, art men know at Schcnley is more mellow, Icfmitcly finer. ,„»!.«»,„,,,„ ictlon of a Jaycee clubhouse.; -.1 (he Jaycees'now COO in their building fund. Club Rauw.s >34,«04 in reviewing projects of the - ...., ..,-ti, iou-iou IDs 23.50; 100-120 Ibs 18-20.50; soW» 450 Iba down 18-18.75; largely 185oi c011 down; over 450 lbs I6.15-1B; stags He Mid lhe Jaycees'now have »7 12.50-14.50; a few 15. — ... -,—, —able 700j calves 800. All salable. Receipts Include "i reviewing projects of the past two loads of medium to good steers, year, he listed the public speaklii • nothing done on load lots of steers; contest held for high school stu- odds and ends medium to good dents, Americanism Week, the can-i seers and heifers. 28-30; cows cer drive, the Christmas party (of • about steady; a few Just good cows underprivileged children. beau? • i •tf-25.25. common and medium 21- pageant, National Cotton Picking> 24; canners and cutters 16-20. ! Contest, poll tax drive, th" get-out- ! Graduation Cxerciset Conducted at Lost Con* John Mayes, county «chool supervisor, spoke to member* ot the Lost Can* graduating class «t their closing exercrlses last night June veach gave the valedictory address and lima Ream lhe salutatory address. Others appearing on Die orotr- ram Included W. w. Fowler, superintendent of the school in Manila T. A. Bourland. Raydo Veach and Mannerlng Towles, member.? ol the school board. Mi. Mayes spoke on the Five Marks of a Great Nation, which he Identified as natural resources great institutions, greatness history and (.chieveinents, manpower, and Us moral and spiritual JAYCEES trtm p^ e [> Mr. McDanlel said, "But there are some minorities in this country that must not become majorities," he asserted. Me added that Americana do not have to worry about minorities such M communists and Negroes. lor It tlw majority functions as it should minorities Inimical to It win I, O L gain control. Arkansas has Its problems Mr McDanlel said. He cited the'issue stemming from the effect of the state's .segregation policies on its eligibility foi federal school funds He said he believed a bill for ap- propriallng federal school funds could be passed without segregation requirements. Mr. McDanlel also spoke on the contributions to the world made by ST. LOUIS NATIONAL STOTK ' '" e " between the ages of 21 and ARDSY, May 21. —tup) -Live" I ollcd * numlitr of famous .stock: " vlr -|inen who had completed history .... 8,600; all salable. Market mal<ill K works while between these • active, 170 Ibs Rlld up 76-1,26 hlith- BBea ' ' "•• ""•- •'" " ' He commended the Javcees on Livestock Ihe-voU drive*, formation of the J»yc«tt«s, organization of clubs ut Paraitould and Lepanlo, top state awards won at the recent state convention, the first annual soybean yield contest, and Jaycee Week and presentation of key-men and Manof-the-Year awards. H« pointed out that the club handled »34,000 in receipts last year. I n taking over the presidency Mi, Wyatt commended Mr. Edwards' report and pledged his lime and effort to help keep Blytheville "on top' in Arkansas. James Boy served as toastmastei- at the banquet, which waj followed by a dance in the Hotel Noble. During the banquet, Miss Anne Warth presented two accordlan selections. Other officera who retired from office last night were Larry Kneas secretary, and Jack Owens, treasurer. Members of the inaugural ban- FRIDAY, MAY 21, 1948 quet committee included Stewart Freiman, chairman. Mrs. Freiman, Mr. MX) Mis. Rouse Harp. Mrs. Vance Henderson, John Burnett, Herb Ohllds and Leonard Johnson. resenting the Lions Club; W. r. McOanie). representing the Rotar* Club; and J. M. Cleveland, repre- . . an, representing the KtwaiiLs Club. Other TRY THE ! UUNDRYETTE j I For a whiter, brighter wash use I J i | our Thor Automatic Washer. J I With spin dryer. Fret pickup and i J delivery. Open 1 A.M. to 6 P.M. • J Tuesday and Friday until 9 P.M. Jj JACK OZMENT ) 124 Dougan St. i Phone 2062 I L......... Notk»: W. Kov. been oppoinltd HEADQUARTERS for Tie Country Store of Beverly Hills HOME MADE CALIFORNIA CANDIES Country Stor. «ndi«i or* prepared from old-fashioned recipe. fh af coll for oodl., of dairy buH.r. cream •gg>, cnocolat.. honey, and nuh. Seven moglh-watering vanetiei. All made fre.h to our order - (Ken ruihed to 01 torn* day made. Try some today. Nichols Drug Store PAY ASY.U RIDE Is tl.e old bus bur-nine oil—eating ff; < s ? We'll rejuvenate it for you by installing new rings and bearings .. grinding and re-facing valves and cleaning and adjust- ing all moving t ,arts. You'll drive away in a high spirit- ed vehicle. I'ay as you ride .. . easy monthly payments. Special fall terms for farmers. Easy GMAC Budget Plan SULLIVAN-NELSON CHEVROLET CO. Phone 578-579 $4 buys a smart and silky ARROW SPORT SH1R7 ...coo/esf thing you've ever worn! ishes beautifully — it '.r Sanfonet.. . hence shrink and stretch proof! Arrow'*/expert tailoring gives you trim fit, lots of room)- comfort and the self-ventilating fuji cloth is next to nothing in \veioht! SHORT SLEEVE $ 4 LONG SLEEVE *4.5 0 \Vhitc, natural, blue, tan, gixx-n, yellow, gniy in small, medium, large', c-v. lar"c. PHONE OR MAIL ORDER! FILLE* MEAD'S -, i> »JIJ MAIM

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