The Courier News from Blytheville, Arkansas on December 7, 1955 · Page 6
Get access to this page with a Free Trial
Click to view larger version

The Courier News from Blytheville, Arkansas · Page 6

Publication:
Location:
Blytheville, Arkansas
Issue Date:
Wednesday, December 7, 1955
Page:
Page 6
Cancel
Start Free Trial

Page 6 article text (OCR)

PAGE NX BLYTHEVILLB (ARK.) COURIER NEWS WEDNESDAY, DECEMBER T, Arkansans In Washington Mills' Committee to Study Tax Policy Effect on Economy By GORDON BROWN WASHTNCTON IAP} — \ Congressional subcommittee headed by Rep. Mills (D-Ark) will spend1 the nexttwo weeks in a study which may affect the nation's economy and the The e suWect X is a "the effect of federal tax policy on the country's economy. Who benefits, who loses and how are the country's businesses and individuals affected by increases, decreases and shifts in tax rates' Mills' subcommittee is a part 01 ttie Senate-House Joint Committee on the Economic Report which embarked on its study several months ago. The subcommittee later this month will make a report, which Mills expects to chart some broad guidelines for Congress to follow in dealing with tax legislation. "We hope to come up with a report that will promote the economic growth of the country," Mills said. Other members of the group are Sens. Douglas <r>Ill>, O'Mahoney (D-Wyo' and Goldwater (R-Ariz) ajld Rep. Curtis (D-M). Mills last summer called on nearly 100 recognized tax experts and economists to submit written discussions of various tax problems. Eighty-four responded and their written treatises on taxes, impact of Taxes, probable effects of various tax policies and suggested rem- edies have been printed by the subcommittee. 930-Page Report All shades of opinions are x- pressed in the 930-page report. The experts differ sharply in many cases. These experts are to appear before the commiuee during the next two weeks to answer questions abou their written works, which have been studied by Mills, his colleagues and the committee staff. After the hearing ends Dec. 18, Mills and his staff will draft the report. Mills wants it published before the year ends. Mills is second ranking Democrat on the House Wasy and Means Committee, which initiates all tax legislation in Congress. Far Reaching- Effort A. W. Ford, Arkansas education director, believes the recent White House Conference on Education will have a far-reaching influence ind result in a much greater in teres'i in education. Ford, an Arkansas delegate to the conference, said he thought the idea of having lay people from all over the country participate was significant. He said it was his conclusion that while the 2,000 participants differed on some questions "they are agreed on fundamentals." Most of them, he said, favored federal aid tor construction of school facilities- Ford said he favored a program possibly patterned after the federal program for hospital construction. There was considerable opposition, he said, to any program of federal aid to operation of schools. The question of segregation wasn't on the conference agenda and Ford said the topic was nevre mntioned at his discussion table. STARR GAZING By BETTVE NELLE STARK Ceyrier Newi Staff C*rrcip<>ndul Plymouth, Mass., was settled on Dec. 11, 1630. John Jay, statesman, was the first chief justice. He was born on Dec. 12. 11«- The 13th amendment (anti-slavery) was proclaimed on Dec. 13, 1865. Come plowing time, I'm gonna be grandma AGAIN. This is a formal announcement and I might get killed for it. but it's a fur piece from here to Houston, Tex. On my recent visit with my son. Bill Beall, and his family of one wife and three small boys, aged seven, five and three, the youngest one spilled the beans to me and to make conversation after I regained consciousness I asked the little fellow which he wanted, a sister or another brother (heaven forbid) he informed me he wanted both—and I reached for a glass of water. The middle one told him HE'D have to make up his mind 'cause tus he said) you can't have both— and I hope he's right. A miser grows rich by seeming poor; an extravagant man grow! or by seeming rich. The more things a man is ash- ned of, the more respectible he is The most difficult of all virtues the forgiving spirit. Revenge ems to be natural with man; it human to want to get even with enemy. US Seeking to Collect $1 Million In Back Taxes from Kansas City Men WASHINGTON dfi — The government is trying to collect more than a million dollars In back Income taxes from two owners of the Muehlebach Hotel, Kansas City, Mo. They are Barney L. Allis, controlling stockholder in the hotel company, and Herbert M. Woolf, also a stockholder and a breeder of race horses. U. S. Tax Court records showed that the Internal Revenue Service claims Allis owes 5674,530 in additional taxes on his 1950 Income and that Woolf owes $397,318 for 1947, 1948, 1949, 1950 and 1953. The service said that Woolf overpaid his taxes by $44,260 in 1951 and 1952. Allis and Woolf deny that they owe the government any additional taxes and have appealed the service's deficiencies assessments to the tax court. The main Issue is whether they ahould have treated money ceived from sale of stock in the Allis Hotel Corp., Wichita, Kan., as a long term capital gain or as dividend income. The.Trianon Hotel Co., which operates the Muehle- bach bought the Wichita company's stock in 1950 for $2,342.925. Allis received $1,178.125 and Woolf S236.437 for their Allis' shares. Internal Revenue said Allis and Woolf own about the same amount of •stock in Trianon as in Allis For this reason, the service said, they should have reported the money Eisenhower Aide Will Speak At Dinner in State FORT SMITH, Ark. 1* — Presidential assistant Nelson Rockefeller will speak at a $50-a-plate dinner to Little Rock Jan. 20 to raise funds for the next Republican presidential campaign. Harry Pollock of Fort Smith, finance chairman for the dinner said money collected would go to help pay "Eisenhower's campaign" . expenses. President Eisenhower hasn't announced whether he'll seek a second term, and because of the heart attacK he suffered recently there has been much speculation that he will not. The Little Rock affair, a "Salute to Eisenhower" dinner. Is part of a fund raising drive that will cover 60 other cities, Pollock said. they received for their Allis shares as dividend income in 1950. Instead, each reported a capital gain, which is taxable at a lower rate than straight income. Internal Revenue also disallowed certain deductions Woolf claimed as expenses in breeding and racing horses. The service said Woolf's deductions for five consecutive years beginning in 1947 exceeded by more than $50,000 his gross income from his horse business. Woolf denied this, claiming he had a capital gain in 1951 of $37,375 on 16 brood mares which he sold to his sister, Mrs. Gertrude W. Lighton, Kansas City, Mo., for S74.500. Internal Revenue said this was not "a bonafide sale at arms length." Federal Prisoner Ordered Released SAN FRANCISCO 1*1 — Judge Oliver J. Carter ordered Henry Mayes freed from Alcalraz prison yesterday on the ground that his sentence could be read two ways. The federal judge read it in favor of the prisoner. Maycs. 35, was sentenced at Indianapolis in March 19-16 to serve two consecutive 5-year terms for taking a stolen car across a state line. In October of the same year Mayes was sentenced at Little Rock, Ark., to serve two other 5- year sentences on similar convictions. Mayes contended his Arkansas sentences should have run concurrently with the Indiana terms, so that'he would be eligible for re- lcft.se Oct. 24 of this year, counting time !' iven for <;oori behavior. Judge Carter said the Arkansas sentences could be read two ways; Either to he served concurrently or after the Indiana sentences. Read Counei News Classified Ads 22 pounds for ONE DOLLAR You can send 22 pounds of America's noumtung (o«d surplus (o a family overseas and have it there by Chrislmat, AH for one dollar! Our fjovernmtnt ha» mid* available through CARE millions of pounds of food surplus to be u*ed to fct>d less fortunatt people in the other free coun- triet. Your dollar join? in • gre«l FOOD CRUSADE to *md food to th* fricndi of freedom ft Send your dollar today — or wnd mor* if you can. Join th« 1955 FOOD CRUSADE! You can't boy better auto insurance than Allstale. Why pay more? Allstale gives you the linest prelection, friendly dependable service and fast, fair claim settlements. Yet Altsiatc rates arc substantially lower than those of most oilier leading companies. No vrondet car owners bough! more aulo insurance from Allstale than any olher company in 1954 based on direct written premiums. See how much yon can save with IhiS really better value from the insurance company founded by Sears. Check with your nearby Allstale Agenl. Or mail the coupon for free facts toduy. GENELJOHNSON 2328 Birch SI., Blytheville, Ark. Phone Poplar 3-31 o'j QENE L. JOHNSON 2.128 Birch St. Blytheville, Ark. l*Mt MI* mi Im com o* lfc« BUYERS' SWOt free! Htlpful Buyers' Gulfcl Don't buy auto Insurance blind! Sec how much you can save with Ihc company founded by Scars. Thb f«ct- filkd booklet tells y<» exactly bow to gel the BKMt for your auto in- •urince dollar. Mill coupon for i free cop; wichoul obligation. Now Allstate OHeri fire Insuronie at Savings up to 20%! MHO TOUt CONTKIHJNOM IO CAM-HIW TOM CMI-MN IIAHCIKO ot TOW UKM un omo This k4 run M » pmWIc narvtM by Ike CMftw Ntwi _ * .POETZOILCO. FUEL OIL "I Sell That Stuff" Phone 2-2089 Visit Conny't Conoco Strvict, Aih ft Divition The only difference between a it and a grave Is their dimensions Romance can begin beside a spla.- •I shing waterfall »t > summer resor and end beside a leaky faucet in the kitchen sink. This actually happened to a friend of mine. She bought some 5-Day deodorant pads for her maid and told her to use them. After 2 or 3 days she aked her maid had she used the pads. The maids reply was: "Law Miss Mary, I can't dp no housecleaning with Arm little things stuck up under my arms." Walter Winchell said he get* his news from people who . promised somebody else they'd keep it a secret. I'll tell you what I did with my summer wicker basket-type bag I'm using It for my Christmas dooi decoration. Tie the lid back, secure it with a bright red or green satin bown the one YOU saved from last year then fill the basket with evergreens and stick a Santa Claus do\vn in it or fill it with Christmas balls every color. Use your own ingenuity if you don't like my suggestion, it's lot more fun decorating this way than to go out and buy an ariiflclall wreathe like everybody on your street. You see. I came along when kids strung cranberries and popcorn to decorate the Christmas trees. The cornucopias we got at the church's Christmas tree, hung at the top. Remember when. you sat on the edge of the seat waiting for your name to be called and how important you felt as you marched down the aisle and how sick those chocolate (tallow-filled) drops made you? After all, Christmas and children go together like ham and eggs, so why not let them help with the Christmat iweet-meats? Let them try this: "Uncooked fruit candy." 12 cup driend apricots 12 cup candied orange peel. 1 ; 2 cup candied cherries. 1 cup of white raislni 1 cup of pitted dates. 1 cup of pecans. Run all of this through the food grinder. Moisten, with enough fruit juice to hold together. Mix thorou- hely. Press into well buttered 8 x 8 x~2 Inch pan. Chill over night before cutting into square*. Roll into powdered sugar. Easy? They will be quite proud to tell grandma they made it and I'll bet grandma will be proud too. I'll give you another quickie next week. There is no cure for birth and death except to enjoy the interval. A lot of couples get man-led because they have so many faults in common. If wives only knew what stenographers think of their husbands. Best-Known Home Remedy forsuffenngot, they sure would relieve themselves | of a lot of worry. SALES POSITION Sears, Roebuck & CO. S«ars has opeings for ambitious men interested In a selling career. These positions offer all employe benefits and career advantages, which include profit sharing and paid vacations. Draw and commission method of compensation assures excellent earnigs to agree- sive me. Experience desirable, but not necessary. Applicants must have a car, but out-of-town traveling not required. If you are between 23 and 38, in good health, and have a high school education, you are invited to apply in person to the local Manager at the Sears Catalog Sales Office, 217 West Main Street. Blytheville, Ark., between the hours of 9 and 5. Rub on Heiief... Breathe in Relief For aches, pains, vuts, bruises, bum, colds, headaches, bites and atinrs, try Bob's Gypsy Rub Liniment Available at your favorite drus counter C. 0. SMITH PRODUCTS CO. ... pull need plenty of Coke Almost everyone appreciates the best — so give your guests a bright holiday welcome with ice-cold bottles of sparkling Coca-Cola. Get Extra Coke For The Holidays 12 Bottle Carton 50c IOTT1IB UNDIR AUTHORITY Of TNI COCA-COIA COMPANY IT COCA-COLA BOTTLING COMPANY OF BLYTHEVILLE $iHf,wicoeMWAeo«MW» • •

Get full access with a Free Trial

Start Free Trial

What members have found on this page