The Austin Daily Herald from Austin, Minnesota on December 20, 1958 · Page 12
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The Austin Daily Herald from Austin, Minnesota · Page 12

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Austin, Minnesota
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Saturday, December 20, 1958
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Page 12
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f? rM,-,i > "n'.iv. fvr 70 SPLIT ON RATE QUESTION Legislators in Quandary About Higher School Aids and Taxes AMOCiftted Press Staff Writer Members of the Minnesota Leg- •.IntHrt apparently are in a quandary about higher state school aids mid higher income tax rates that, nay be necessary to finance them. "State aids to schools have been iicreased every session for a number of years," said one legislator n-his reply to an Associated Press Mieslionnafre. Appropriate 233 Million "I am not sure just, how long the taxpayer can stand these in- rreases. It seems to me we will iiave to slow down somewhere, hut I hate to start on schools." Gov. Orville Freeman has said he will ask the Legislature to appropriate 233 million dollars some 3S millions more than two years ago — for state school aids and other educational purposes fi nanced from the income tas. Maintain Percentage The Minnesota School Cordinnt- iing Committee, which includes most of the slate's educational | groups, is on record in support jof higher income taxes, sales tax- I es or any other taxes needed to j maintain state aid at the present Ipecentflge level. State funds now (pay about 43 per cent of the cost of public school maintenance. Legislators generally agree an THURSDAY DECEMBER 251 SPECIAL CHRISTMAS NIGHT DANCE AND VOCAL ATTRACTION CONWAY TWITTY Hear His Top Hit "IT'S ONLY MAKE BELIEVE" CHUCK HALL ORCH. FOR DANCING TIME 8 to 12 Adm. $1.65 Inc. Tax — Checking lOc L«t Timtt Tonight w on Sale! The Ideal Christmas Gift! YULETIDE FOLDERS OF THEATRE TICKETS . . .^ Wall Disney's "OLD TELLER" STARTING TOMORROW At 1:00-3:45-6:20.9:05 And Showing Monday - Wednesday Mat. 2:00 - Eve. 7:15-8:45 «i»IBM KPT-JOHN MCTO. ANMW DOOM TECHNICOLOR* I BUM HEM OPEN BOWLING at Echo Lanes Monday, December 22 7 'Jill 9 p.m. ALL OPEN BOWLING FROM DECEMBER 23 THRU JANUARY 4 10 A.M. TILL CLOSING CLOSED CHRISTMAS EVE DON'T FORGET . . . Our miniature ball and gift certificate deal, terrific for giving a ball, bag and shoes . better bowling. It's for ECHO LAMES ALL BOWLERS! ATTENTION Calendars Containing Coupons Worth Over $6,000 in FREE BOWLING Will Be Given Away Within The Next 2 Weeks at ECHO LANES Be Sure and stop out for your FREE Valuable Coupon Calendar. To Our Many Friends and Customers OUR BEST WISHES for a VERY MERRY CHRISTMAS AND A HAPPY NEW YEAR Gene Linek and Lyle Sorensen ECHO LAMES Hi way 218 South effort should be made to maintain this percentage, but they are divided on the question of higher slate aids. About half of those who replied to the questionnaire said they would favor higher aids, but most of these imposed conditions. Twenty-one said yes without qualification; four said they would favor increases "within available funds" five said they would back increases in cases of urgent need: two said increases should be made to relieve the property tax; three said increases should be made only on an equalization basis. Twenty - nine replied with a| flat no to the question of raising aids. "I cannot envision any increase i in school aids when it appears that I we are going to have considerable difficulty in maintaining the levels | of aid presently established," said iRep. John Tracy Anderson of St. iPaul. Avoid Increase Four others said they didn't believe it would be possible for this Legislature to increase aids and two said they hoped to avoid an increase. On the question of boosting income tax rates to provide more money for school aids, 26 legislators gave flat affirmative answers and 23 others said yes with qualifications. These included one who said he would favor higher rates in the higher brackets and two who said they might be compelled FTC 4/ms fo Protect Pocketbook by Exposing Business Trickery WASHINGTON (AP)-The .»„- eral Trade Commission is adopting a ne* pti<sif«r aJrnea at p*r> tiding tone* protection of the American ftonsumer'^poclcetbook. In the past, the Commission has alerted the public to sharp practices only when it has filed formal GETTING INTO THE ACT — Standing on his head in a yoga exercise, opera star Robert Merrill puzzles daughter, Lizanne, 2, at their New Rochelle, N. Y., home. The baritone is an enthusiastic practitioner of the exercises and it looks like he may have a young disciple. to vote for higher rates. Twenty-three said they were opposed to increasing income tax rates and three others said they believed needed money for school aids should come from other They did not name the From 4T&T to Atlas, Week of Business Is Eventfut One By WALTER BREEDE JR. NEW YORK (AP) - From Wall Street to Cape Canaveral, a happy combination of circumstances and events added luster to an already brightening busines scene this week. American Telephone & Telegraph Co., the world's largest industrial colossus, demonstrated its faith in the nation's economic future by proposing a three-for-one split of the stock and a 10 per cent boost in the dividend. This is the first stock split in A.T.&T. history, and the first dividend chance in 37 years. Stockholder Bonus The dividend rise will mean a 63 - million - dollar bonus for A.T.&T.'s 1,625,000 stockholders. sources, sources. Need Money Rep. Leo Mosier of Minneapolis, chairman of the House Appropriations Committee the last two sessions, said it is clear that schools need more money. "The public knows and recognizes this," he said, "and this same public will have to help the Legislature .decide what form of new revenue is to be made available for the educational fund." ies of A.T.&T.'s Bell System in 11 states have rate increase applications pending for almost that amount. Avowed objective of the stock split: to create a broader market for the company's shares by breaking them into smaller pieces (A.T.&T. closed Friday on the New York Stock Exchange at $223.50 a share). In the A.T.&T.'s own words, "it will strengthen the position of the company in competing for the large amounts of equity capital that will be needed in the future to meet the nation's requirements for telephone service in our expanding economy." While A.T.&T.'s surprise move Fidelity Lodge No. 39 AF & AM Special Communications SATURDAY, DEC. 20th M.M. Degree at 4:00 P.M. BUFFET DINNER Served Between 6 and 7 P.M. 2nd Section M.M. at 7:15 P.M. No Reservations Necessary SHOOT bolstered confidence in the nation's economy, successful launching of the 4i4-ton Atlas missile restored the public's lagging faith in U. S. prowess in the realm of space. As the huge Atlas, more than sia's 2\<t tons biggest heavier than Rus- Sputnik, orbited , around the globe, shares of companies that helped build or fuel the Atlas rocketed through the roof. Stock sales totaled 18,656,430 shares in the latest week compared to 19,094,914 shares in the national average, was higher in November than at any time before. But it wouldn't buy as much as in 1957. • Record Yearly Pace ' That's the story told by the U.S. Commerce Department's report on personal income of Americans last month. Income a record yearly pace of 360 billion dollars — up 2(4 billions from the month before and up 5 billions from November 1957. But, said the Commerce Department, price increases during the past 12 months more • - - -- --,---,--. u ..».«,w in Kiiv v-o uui U ig tllC ^Ctoti 16 IlLUUlilO previous week and 13,173,320 in the i than offset the'income gain, corresponding week a year ago. Bond sales had a par value of $34,850,000 in the latest week, $32,377,500 in the previous week and $27,343,500 in the same 1957 week. Here again, as with A.T.&T., the accent was on the increasing 'importance of communications. Experts said the Atlas marks an important first step toward radio communication with satellites — an achievement which may pave the way for manned space flights. Recovery In High Gear Back in the earthbound world of commerce, signs continued to multiply this week that the recovery from recession was still in high gear. New car sales took a sharp turn upward. Despite a crippling strike at Chrysler Corp., the auto industry set a production goal of half a Briefly over the business scene: New York merchants admitted for the first time this week that the city's newspaper strike is hurting their "in-store" Christmas business. Previously they said only mail and telephone orders had been hurt ... Alfons Landa, president of Penn Texas Corp., was elected a director of Fairbanks, Morse & Co.... American Motors Corp. hopes to build and seel 150,000 Rambler cars in the first half of its current fiscal year... Bigger windshields on 1959 cars are boosting insurance rates, says the National Automobile Underwriters Assn., explaining: "Undoubtedly the 1959 models have more style appeal and are superior in many ways to their predecessors but they will cost more to repair". .. Fight complaints against businesses al-,that a racket is under million cars this month. For the The « wn . first three months of 1959 it set a i nounced a Roundtrip Reduction Rock Island Railroad an- quota of 1,644,000 cars. That would pro- 28 per cent reduction in roundtrip sleeping and parlor car fares, starting Jan. 25 compare with only 1,238,710 r ._ „. , „ ^ „„.,. duced in the first three months of Directors of J. P. Morgan & Co., 195 ?- |and Guaranty Trust Co. of New The steel upturn gained speed " " this week. Prediction was the highest in more than a year. Rail Volume Freight car orders in November totaled 6,295, largest volume of new business booked by rail equipment makers since early 1957. Housing starts in November, on a seasonally adjusted basis, were the highest for any months since June 1955. Prospects for the electrical manufacturing industry grew brighter. Ralph J. Cordiner, chairman of General Electric Co., said GE's sales are continuing the uptrend that began in recent months. Earnings for 1958, he said, should be second only to the record high of 1957. Your income, if it followed the York voted to merge. The new bank, to be known as the Morgan Guaranty Trust Co., will be New York's third largest Raytheon Manufacturing Co. of Waltham, Mass., received two missile contracts totaling $35.400,000. .. Prosperity note: sales of million-dollar life insurance policies are on the rise. Massachusetts Mutual Life Insurance Co. issued 19 ne\y policies for a million dollars or more each in the first 11 months this year, compared to 16 in all of 1957 DBS MOINES UFi — A protest by the Garwin Consolidated School District against a proposed school district reorganization in T a m a County was dismissed by the State Board of Public Instruction Friday. GRILL 1011 W. OAKLAND 0pen Sunday 8 a.m. to 9 p.m. Week Day* 6 a.m. to 12 p.m. Dining room open Sunday serving regular dinner*. BREAKFAST Juice, Special K Cereal, with milk, one fresh egg, tooit and coffee. 7Qc DINNER PAN FRIED CHICKEN with baking powder biscuits and honey, whipped potatoes and gravy, tossed or jello salad and roll. Pi«, ice cream or sherbet and beverage. $1.65 SHRIMP in the BASKET with fries, «dle slaw and toast. H *•?.'• V; -.•A:-.-* »'..':•»'• !i'i"". •S.v* !#2f V.'*.' >• i&T 99 PAPERS, MAGAZINES, POCKETBOOK NOVELS LAST TIMES TONIGHT - 7 & 9 P.M. JOttJAaONEY • IDANA PATTEN • CHARLES McGRAW • BARBARA LAWRENCE Sunday - Monday Tuesday 5 Shows Sun. 1-3-5-7-9 P.M. 'Bum By the author of "AROUND THE WORLD INWDAYS u and"20,OOOI^GUETuNDERTH£S£A : 'l GIVE STERLING THEATRE GIFT BOOKS FOR CHRISTMAS! $2.50 and $5.00 GIFT BOOKS Sitdown Strike Causes in Assembly SEOUL (AP) - Fighting broke out in the South Korean National Assembly today when guards tried to remove bedding of opposition Democrats who were staging a sitdown strike. One Democrat was seriously hurt in the 10-minute fight'. which smashed furniture and overturned the speaker's rostrum. He was hospitalized. The sitdown began Friday in protest to a bill by President Syng- man Rhee's Liberals to amend the National Security Law. The Liberals say the changes are needing to deal with increased communist espionage. The Democrats contend the changes would curtail press freedom and human! rights. Actor to Divorce His Bride of 4 Months HOLLYWOOD (AP)-Irish actor Stephen Boyd says he will divorce his Italian bride of less than four months, Mariella dl Sarzana. They were married Aug. 30 while Boyd was on location in Italy. leged to be erring. Lets Profitable the FTC hopes its new policy Will put a stronger spotlight on trickery and make it less profitable, perhaps even make it unprofitable. Members of Congress and others frequently have complained about the length of time it takes to process many PTC cases, some of which drag on for several years. The PTC hopes to blunt some of these complaints through Its new warning system. In addition to alerting the public, warnings will serve notice tion. Harry A. Babcock, FTC's exec* utive director, said today legal ac* tlon will be taken after almost every warning. the FTC recently Issued Its first two warnings—one about phontf French perfumes and another out* lining a scheme for bilking busi* nessmen who want loans. : In the loan racket, a business; man who hasn't been able to get a loan from legitimate sources is told one can be arranged. He pays a fee and signs a "contract" which turns out to be only a worthless recommendation that genuine lenders approve a loan! v.r.w. Kiddies Christmas Parly SUNDAY, DECEMBER Zlsl 2 to 4 p.m. ai V.F.W. Club Man - Wife POT LUCK SUPPER Monday, Dec. 22nd - 6:30 P. N. V.F.W. Members & Auxiliary Swede Carlson's HAMBURGER HEAVEN Open Sunday for HOT TAKE-OUT ORDERS 9 a.m. to 8 p.m. FOR KNIGHTS OF COLUMBUS AND THEIR CHILDREN K fl V CHRISTMAS PARTY Sunday December 21 si 1:00 P M. KCHALL 20c - 45c - 60c Tonite Only! The True Story of Today's Proud Young Rebels! At 8:20 At 7:00 & 9:30 "High School plus "Hot Rod Hell Cats" Gang" Sun.-Mot. 1:00-3:00 Eve. 7:00-9:00 JOHN HUSTON Suspenseful! V MOVIE at the TUESDAY, DEC. 23 Two Showings at 1 and 3 P.M. "They Rode West" IN TECHNICOLOR ... AND STARRING Robert Francis • Donna Reed • May Wynn and Phil Carey PLUS . . . 3 STOOGE COMEDY and 2 CARTOONS All Children In The Austin Area Are Invited to Attend tow As Guests of the Austin Daily Herald

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