Globe-Gazette from Mason City, Iowa on July 8, 1948 · Page 16
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Globe-Gazette from Mason City, Iowa · Page 16

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Mason City, Iowa
Issue Date:
Thursday, July 8, 1948
Page:
Page 16
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6 June 3*. 1948 HUM City aiob«-G»i*U«, M»on City, U. Sport Group to Note 50th Anniversary Goldfield —The Evergreen Sporting association will observe its 50th anniversary by holding a picnic at the Greenwood p*rk, Eagle Grove, Friday. The celebration will open with a concert by the Goldfield band at 10 a. m. followed by other special features. A big picnic dinner will be held at noon. The Evergreen Sporting association was organized by a group of farmers in the community southwest of Goldfield in 1898. It has continued through the half century with new members being added as farmers of the community moved away or were called by death. Many of the early day members of the organization continue to reside in the Evergreen community and are still active in the affairs of this unique group. The organization promotes many activities, such as baseball, kitten- ball, track meets, dramatic programs, singing, hunts, etc. Points are given to the place winners in .he various events and at the end of the club year the points are tolled and the winners of the con:est are given a banquet by the .osers. The organization is divided into 2 age groups and the youngsters compete among themselves in the various contests and have their own officers,. One of the big features of the group is the destroying of rats and harmful birds. A hunt is held in the winter at which rabbits, foxes, crows and jackrabbits are usually turned in. The group holds programs in the Evergreen schoolhouse, which is located in about the center of the area. Magnus Hansen, a charter member, is the president and Mrs. Robert Hansen, secretary of the senior group. A fortune can be made raising rattlesnakes, it's said. New York and Chicago cocktail bars buy great quantities of rattlesnake meat to serve as "snacks" and appetizers, and drug manufacturers pay $25 an ounce for rattlesnake venom. Lost Her Cast Supreme Court Reverses Decision of Circuit Court Leading the Style Parade Attractive! Smartly styled glasses, carefully fitted to conform with your facial contours, will add beauty and charm. Modern styles await your selection. GLASSES ON CREDIT 50c A WEEK! Registered Optometrist ^Office at ELZBERG 23 So. Federal, Mason City, Iowa Mrs. Tillie Zazove lost her case against the government—or, specifically, against the veterans administration. Mrs Zazove was the aunt of Pfc. Adolph B. Schwartz. Pfc. Schwartz named her as beneficiary of his $5,000 National Service Life Insurance policy, taken out in 1941 when he entered the service. In 1943, Schwartz, like thousands of other fighting Americans, died in a Japanese prison camp. So Mrs. Zazove started receiving payments on the $5,000 worth of insurance. The monthly payments were $29.50. They were guaranteed for 120 months. That means that if Mrs. Zazove dies before 120 payments have been made, the contingent bene- VET WANS' GUIDE ficiary will receive the balance. If she lives beyond 120 months she will keep on getting the $29.50 every month for the rest of her life. That method of payment is now known as option 3, but at the time Pfc. Schwartz died it was the only manner in which Mrs. Zazove could get the money. The law had not then been changed to give beneficiaries the choice of 4 options. Mrs. Zazove figured cut that if she died before 120 payments were made the full $5,000 worth of insurance would never be paid. Figure it yourself. Multiply $29.50 (the monthly payment) by 120 I months and you get $3,540, a good bit less than $5,000. ' Didn't Seem Right That didn't seem right to Mrs. Zazove. She figured that no mat- ter when she died the full amount of the insurance for which Pfc. Schwartz had paid premiums should go to someone. So she went to court to force the veterans administration to increase the monthly payments. She wanted them increased to $48.08 a month. Over a period of 120 months, that would amount to $5,769.60—which equals the face value of Schwartz' $5,000 policy plus 3 per cent interest. Further, she maintained that she should keep on getting the $48.08 a month for the rest of her life, if she happened to live beyond the 120 months. She became the plaintiff in a suit which was taken to the U. S. circuit court of Chicago. The government was the defendant. die before 120 payments have been made. The payments are figured out so that if Mrs. Zazove, or any beneficiary, lives as long as mortality tables show she should live she wil receive the full value plus interest . - . and the average beneficiary will. Cancer Fund Drive EndsinChickasaw West Union —The fund drive for the American Cancer society has been completed in Fayettc county and a check has been mailed to the state headquarters for $5,143.11, nearly $2,000 ovetf the county quota, according to .county fund chairman, E. B. Shaw. A later gift brought the total county collection to $5,294.86. The quota was $3.800. Dr. Horace Seymour Beemer Foresters Building EXTRACTION OF TEETH X-RAY Won in Circuit Court She won the case. The court decided the veterans administration would have to pay monthly installments of $48.08. The government promptly appealed to the supreme court. What was the effect of the circuit court's ruling? If Tillie Za- zove had lived to her normal life expectancy, as figured out by the American experience table of mortality, she would have collected over $10,000. The same would hold true for any other beneficiary receiving installments uiicler option 3. This would mean draining the National Service Life Insurance fund of_ all its resources and millions of dollars more. It would mean in some cases the payment of up to $40,000 or $50,000 on a $10,000 policy. Equal Chance ' So, as I was saying, the government appealed the decision of the circuit court to the supreme court. That body unanimously reversed the decision. Chief Justice Vinson delivered the opinion. You're asking if that is fair. Is it fair that a beneficiary might not receive the full value of an NSLI policy which was contracted for by a veteran and paid for with monthly premiums? Well, there's just as much chance that Mrs. Zazrove will get more than the full value, plus interest, as there is that she will Return From Florida Garner—Mr. and Mrs. Fred C. Missal have returned from a 10 day vacation in Florida attending the national convention of county officers. Mr. and Mrs. Missal accompanied Mr. and Mrs. Ed Ref- shauge of Cedar Falls. Refshauge was Iowa's official delegate and Missal was alternate. Over 800 county officials from 34 states attended the meeting held at Hotel George Washington in Jacksonville, Fla. In a modern, heated building as many as 4 generations of moths can be produced in a year. Some Gifts Subject to Income Tax Washington, (/P)—The internal revenue bureau ruled Monday that the 'fair market value of agricultural products contributed by a farmer or other producer" to a tax exempt organization must be counted in the gross income of the donor. If gifts to a non-profit charity or other organization amount to more than 15 per cent of the donor's income, tax must be paid on that part of the gifts in excess of 15 per cent, under the ruling. Applies to Kansas Man Although the ruling mentioned no names, it took care of a case in which D. C. White, Kingston, Kans., farmer, protested that income tax was assessed against him on part of a gift of wheat he made to the friendship train that took American supplies to Europe. The revenue bureau put a value on White's wheat, added it to his reported income, allowed a 15 per cent deduction from the total for the maximum gift allowed by law, then taxed the remainder at the regular rates. The bureau said: "Expenses incurred in the production of farm products are allowed as deductions from gross income on the theory that they are incurred in the production of taxable income. Deductions Unfair "It would not appear to be proper to allow a taxpayer a deduction for the expense of producing income, permit him to exclude such income from gross income, and, at the same time, permit him to enjoy the benefit of a contribution deduction ... (to a tax organiza tion) . . . with respect to the same income. . . ." The ruling constituted a restatement of the bureau's position as given to reporters some weeks ago when White's protest was registered. The ruling was termed out- rageous" by Drew Pearson, radio commentator and columnist who promoted the friendship train project. He said he had retained Randolph; Paul, former treasury department counsel, to represent White and other friendship train contributors to oppose the ruling. Toy Shortage Predicted Portland, Me., (U.R)—Santa Glaus may find his pack a little lighter next Christmas. L. S. Talbert, retail sales manager for Sears Roebuck, says there'll be a toy shortage, particularly in steel articles. Some retailers already have been advised to cut their toy orders 25 per cent, he reported. 4-4 ' '«es- Vthe I VENETIAN BLINDS Will Beautify Your Home or Office Your Choice of • 4 GRADES of BLINDS. • 10 COLORS of SLATS with MATCHING TAPES. • SOMETHING NEW IN DRAPERY BRACKETS. (3 We will gladly measure your windows and make FREE ESTIMATES ... NO OBLIGATION. • ASK ABOUT OUR LAUNDRY AND REPAIR SERVICE • VENETIAN BLIND MFG. & SHADE CO. Visit Us or Thonc 64 719 North Commercial The luxurious silverplated tea service you've always wonted . ; s, at an unprecedented low price! 7-cup capacity tea pot, 12%" diameter tray with engraved center design, covered sugar and creamer and each piece proudly marked F. B. Rogers Silver Company, one of New England's finest Silversmiths! ^ <? f ^, IX l/jL «fe X I (f eneu d ASK RAY SENEY Established 1908 19 EAST STATE STREET 102 South Federal Prices slashed to clear! ALL-WOOL TROPICAL SUITS SAVE AT THIS CLOSE-OUT PRICE REG. $35 28 77 With 10 weeks of hot weather ahead, Wards slashes the price on Brent Tropical Suits! i Get Summer comfort now at this big saving! Brents are tailored of crease-resislant worsteds in an airy, open weave that lets your body breathe. Generously cut for nattering fit and roomy comfort. Single and double breasted models. But get here early before they're gone. REGULAR 26.50 RAYON TROPICALS Priced to clear! Light, durable rayon-ace ^ tate, carefully tailored. Stripes, solids. 22.77 102 South Federal Phone 860 3 Days Only! 198 Shirts of Sanforized* Broadcloth with non-wilt Tacoma Collars.** Stock up Now for Fall and Save! 2 44 Handsome 2-Star Brent broadcloths from our regular stock! Every one has the face-flattering Tacoma Collar that won't wilt, keeps morning- fresh all day long! They're tailored full for comfort, too! Patterns and stripes in many colors : . . or fresh, snowy whiles. Stock up now and satr/ 14 lo 17 necks, 32 to 35 sleeves. Add several of these to your Monthly Payment Account ALL WOOL TROPICAL SLACKS Popular shades, patterns! Coo!, good-looking, light-weightf New tropical worsted fabrics skillfully tailored with deep pleats, zippers. 29-40 waist. • Other Tropical Slacks at 6.95 6.50 23% Wool Slacks! 77% rayon makes them extra cool. Pleats. NOW 4.88 •Lc« thin 1% ihrinlugcl

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