Wisconsin State Journal from Madison, Wisconsin • 27

Wisconsin State Journal, Thursday, April 11, 1985 Section 3, Page 3 The Economy Johnson Controls a model for futiwe Late filing fax return? So is IRS Egger perature, and the regulator opened and closed hot-air dampers to keep the temperature even. Johnson quit teaching to try to start a company with his invention. Two years later Plankinton united him with a group of Milwaukee investors, and he was in business. Johnson was teaching natural science in the early 1880s when he tired of janitors disrupting his classes to check the room temperature. The result was Johnson's invention in 1883 of the all-electric room thermostat and the draft regulator.

The thermostat sensed the room's tem WASHINGTON (AP) If you stffl haven't filed your federal income tax return, you're in good company. Neither has the nation's chief tax collector. Roscoe Egger commissioner of the Internal Revenue Service, said Wednesday that he has not filed yet because some of the information he needs is tied up in a commercial computer. Does he prepare his own return? "Yes. I have for more than 40 years," he told a news conference.

The commissioner, who said last year it makes no sense for people who owe the IRS to file their returns early, said he is expecting a refund this year. People Express raising air fares By Chuck Martin Economics reporter The story is 100 years old, but Gov. Anthony Earl Wednesday called it a model for modern-day Wisconsin's quest for economic growth. The characters are a college professor and a financier. The plot relates how the professor invented a device, met the financier and created what has become Johnson Controls Inc.

of Milwaukee, soon to be Wisconsin's largest industrial business. Earl commented at Johnson Controls' 100th anniversary celebration at the Sheraton Inn and Conference Center in Madison. He said the story of Johnson Controls' birth is a lesson in how Wisconsin's universities today can help transfer inventions and technological breakthroughs to private business, creating jobs and income for the state. Johnson Controls Inc. is a maker of automatic heating and cooling controls, car batteries, piping systems and other products.

It employs about 3,700 people in Wisconsin and 21,000 worldwide. The company reported 1984 sales of $1.4 billion. It will become the largest industrial company with headquarters in Wisconsin when Kimberly-Clark previously No. 1, moves its corporate headquarters to Texas later this year. Johnson Controls started in 1885 under the name Johnson Electric Service Co.

The company was formed by Warren Johnson, a professor at the State Normal School in Whitewater, and a group of Milwaukee investors led by William Plankinton. People in business would raise fares to 19 of the 33 cities it serves from its Newark hub, including a $30 boost to $199 for a one-way ticket to London. The price of a one-way flight from Newark to the California airports at San Francisco-Oakland and Los Angeles will rise to $149 from $129 during off-peak hours and to $199 from $169 in peak hours. NEWARK, NJ. (AP) People Express Airlines Inc.

said Wednesday it plans to raise its fares by an average 10 percent in early June, its second price hike this year. Fares on four routes will be reduced, however, and People Express also said it plans to begin serving Columbia, S.C., on May 1. On June 5, People Express said it hi Tim Maxon JfaS lllm We have expanded our SPP G0LF irffflfl Departments to bring you mil Superior Selection it I 1 Highest Quality. vs40 1 Our seven-store Buying vV Mil II 'n Power lets us offer you Jy mWWml 1 The Bes Prices in Town! Leon Fernstaedt Leon Fernstaedt was named district loan representative in the Madison area for Mutual Savings and Loan Association of Wisconsin. Tim Maxon was named Madison-area property supervisor for National Realty Management Inc.

of Brbokfield, an affiliate of National Development and Investment Inc. Ron White has been hired as a vice president in the Madison office of the Milwaukee a Wis- consin-based stock brokerage firm. He was vice president for professional and executive banking at First Wisconsin National Bank of Madison. James Juhl and Thomas Kirchdoerfer were promoted to group sales training assistants for CUNA Mutual Insurance Group, 5910 Mineral Point Road. They will be responsible for developing, and implementing training programs associated with group coverage products for CUNA Mutual.

Business notes Janesville rated low on living costs Janesville has the lowest living costs among 11 Wisconsin cities evaluated by the American Chamber of Commerce Researchers Association. All 11 Wisconsin cities had living costs below the national average. An ACCRA report shows that goods and services costing the national average of $100 cost $89.50 in Janesville. Included were groceries, housing, utilities, transportation and health care. Green Bay was the second-lowest Wisconsin city at $94.

Fond du Lac was most expensive at $99.60. Madison and Milwaukee were not listed in the survey. Seminar on workers' compensation Professional Education Systems will offer a seminar called "Wisconsin Workers' Compensation Practice" on April 25 at the Concourse in Madison; April 26 at the Marriott Hotel in Milwaukee; May 2 at the Paper Valley Hotel in Ap-pleton; and May 3 at the Holiday Inn in Eau Claire. The fee is $85, which includes a manual. (If two or more persons from the same firm register, the cost is $75 a person.) For details, call 1-800-826-7155, Ext 31.

Regional GM announces foundry closing General Motors citing excess capacity, said Wednesday it would shut its engine-block foundry in Pontiac, the second closing of a major GM foundry in a year. Production will be cut in summer 1986 and will end the following year, affecting about 1,800 blue-collar and 200 management workers. JSr wA x-traii ll George W. '-i Smith, CPA j. jf Easy tax tips Tax headache not deductible Dear Mr.

Smith: You wrote in your column last year that taxpayers could deduct the cost of all medicines such as aspirin even though they were not prescribed. After reading the instructions for medical and dental expenses, it appears to me that you can only take a deduction for prescription medicines. I've got a (tax) headache and a bottle of aspirin next to me. What gives? Sally Oakland, Calif. A change of prescription.

Federal authorities decided to perform a little treatment switch on the tax rules. What I wrote in 1983 was correct What I did not tell you was that the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) did away with the deductions for aspirin and all of that other good stuff in 1985. The only Tax Tips appears daily until Monday. medicine and drugs which may be taken into account in determining the allowable medical deduction are insulin and those drugs which are prescribed by a physician. Also, the 1-percent floor for deducting medicines and drugs has been eliminated.

In addition, all your qualifying medicine costs are added in with your medical and dental expenses, which is then subject to a 5-percent limita-tioa It all fits nicely on lines 1 through 5 on Schedule A. Pretty painless, provided you qualify. Money-market rates As a service to consumers, The Wisconsin State Journal provides a weekly list of rates paid on money-market deposit accounts by metropolitan Madison institutions. The accounts listed are ederally or privately insured and allow limited checking privileges. Other institutions may offer accounts at different rates without insurance or checking privileges.

Marine Bank 7.70 Monona Grove State Bank $9,999 or less 7.65 $10,000 or more 8.10 Randall Bank $1,000 or more 8.00 United Bank 72 $2,500 or more 7.90 Savings and Loans Anchor Savings 8.10 Great Midwest 7.90 Evergreen Savings 8.10 First Federal Savings 8.05 Home Savings 8.25 Mutual Savings 7.95 Republic Savings 8.25 Credit unions CUNA 8.65 Dane County Credit Union. 8.65 Heritage Federal $2,000 or more 8.10 Telco Community $2,000 or more 8.52 University of Wisconsin 8.51 State Capitol Employees 8.60 Brokerage firms E.F. Hutton $10,000 or more 8.55 Merrill Lynch $20,000 or more 8.50 Robert W. Baird Co 8.15 Rate Yield Bank 8.190 8720 nyy 8990 m' 8.430 "'r' 8.860 jtf 'GOLF TENNIS 8.880 TK SA 8.950 S0 .8.192 American 7.90 Bank of Middleton 7.30 7.75 $10,000 or more 8.10 Bank of Shorewood Hills $10,000 or more 7.90 First Wisconsin Madison 5 $2,500 or more 'W MM Middleton -25 7.90 $10,000 or more 7.95 Hilldale 6-25 7.90 $10,000 or more 7.95 Jamestown -25 $2,500 or 7.90 8.870 8.490 LJ ED3 5lz3 Street "'jj ff CHARGE i i Smith Barney $20,000 or more 8.09 Wednesday figures, subject to daily change. All hove minimum deposits of $2,50 unless otherwise indicated.

6.