Wilkes-Barre Times Leader, the Evening News from Wilkes-Barre, Pennsylvania • 5

Five' IN THE STATE FromThe Wires of the Associated Press TIMES-LEADER, THE EVENING NEWS, WILKES-fiARRE, PA; TUESDAY EVENING, JANUARY 4, 1972 POME mmmm Sound Riot! Semi-Annual Sale Of Records From Our Regular, Complete Stock Our Entire Stock Of PITTSBUItGH-Attorneys for Casey Construction Co. and to Allegheny County Port Authority Transit (PAT) were to argue before Judge John Hester today on their suit to force Mayor Peter Flaherty to halt interference" with the proposed rapid transit ptoject. Last Tuesday', the city agreed to lift a blockade of autos that had halted renovation of a tunnel in the system for two days. In return, Casey Co. and PAT said they would delay certain work on the tunnel pending today's hearing.

Flaherty charges Sky bus would be a waste of tax dollars, and he has refused to provide various permits for renovation of the old railroad tunnel. The suit asks Judge Hester to order Flaherty to issue the permits and make the city pay damages for work delays. IIARRISBURG Larry D. Barker, a Corrections. Bureau official, will head the Welfare Department's new Office of Children' and Youth deemed state government's "principal advocate for the well-being of all youth in the Welfare Secretary Helene Wohlgemuth made the announcement yesterday.

Barker, of Dover, has been serving as director of Corrections' Community Treatment Services. As commissioner of the new office, he will help set policy and create supervise social services for the juvenile. HARRISBURG More than- $4.4 million will be distributed to 275 public libraries this month, Gov. Shapp said yesterday. That amounts to 25 cents per capita for the area served.

Eligibility is determined by the amount of local money apent bv each library during calendar 1970. Another 40 public libraries will get $515,000 in state funds in Tebruary and March. Payments to those libraries were delayed because their -qualifying year ends December 1971, jrathcrthan December 1970, according to the governor's statement. McKEESPORT-Negotiators for striking Teamsters Local 205 and members of McKeesport City Council agreed to meet again today after a stormy session which ended in a shoving and shouting match yesterday. The meeting, first -in a four-day-old strike by 110 blue collar city employes, ended after the ten minutes City Council immediately said it would prepare a request for a -court injunction- to end the strike.

-T IIARRISBURG The American Cancer yesterday the award of research grants totaling $161,000 to the of Pittsburgh and $115,000 to the Hershey Medical Center. Long Playing Albums i DOWN THE UP STAIRCASE or up the down or something like that. Actually, It's not an exercise in confusion but part of the routine as workers check out giant storage tanks via circular stairways at Guayanllla, Puerto Rico, chemical complex of PPG Industries. Us Our Entire Stock Of 8 Tracks Cassettes LHt Now 5.95 I 3.99 6.95 4.99 7.95 5.99 8.95 6.99 9.95" 7.99 12.95 9.99 1 .98 Now 1.29 1.88 2.66 .2.98 ELIA Daily Investor 3.98 I I a on 2.98 By Charles Elia coo 3.88 II I iJ.U Q. I've been investing monthly basis and using it for the portion vnn want in redeem.

II OO Entire Skck Of 45'j in a mutual tuna years, i am rtnwn hnut 25 nercent. If I nnre vnn elect to handle this 4.88 7.88 II 0.70 11 oo Inn an a vpraSft-COSt basis, how-i sold all my shares, would it be 7 I Lt.JO, a long-term 'or. short-term loss? everiyotrmust continue to do so in following years. You will need specific Internal Revenue Service Week 8.88 Pomeroy's Regular Low Price 77c 12,98 :..8.88 fTT' 66 If I sold half my snares, wnat would it be? Since I am dollar- cost averaging, which half permission to revoice mat cnoce? II Tour Choice I his vyeek .11 would I be selling if I sold half my nprts.at Prentice-HalL Using the average basis method. A.

Let's get straight first on long and short term. For tax should simplify partial redem-tion procedures greatly for most shareholders who Qualify. Entire Stock Of Warner Bros. And Reprise Albums Reduced! a capital gam or loss is Innp tprm on the shares vou've IN THE NATION From TtieWires of the Associated Press custodial shares go into, two held longer than six months. If accounts on tne custodian dooksh you're still making monthly payments, the shares held less than i one for long-term holdings of i civ months or more and the! I I I I I I a six months represent short-term holdings.

other for shares held in the short term Where monthly payments! There has been an important continue, shares are moved into phanpc in the sast vear in the the lnnsr-term account as tney i tax rules on mutual fund shares pass the six-month holding: iw deter- MONTGOMERY, Ala. After more than a decade of litigation, a three-judge federal court has ordered reapportionment of the Alabama Legislature. The ruling was described by one lawmaker as a Dreaic- through for black people in the state. Rep. Fred Gray, one or two Negroe? in the legislature, said the decision' yesterday will allow blacks in Alabama to be represented for the first time "in proportion to our strength The new formula, ordered into effect with the 1974 general elecUon, creates 105 single-member districts in the House 'and 35 In the Senate.

Senate districts are each composed of nerind. mining your Vmi sn err tn nave snares coat basis is retieemed from either account. (if but if you don't specify which lieu. liji, certain cases 1 Tupelo Honey shares you re redeeming, tney automatically come out of the! you may now i l.f In ikp i I 4 11 II i Ions-term side of the books. As, an "average -X I Kill.r hv ilirp Cnnnor Music bv Carole Kino Livina by Judy Collins in all tax matters, I'd suggest Tupelo Honey by Van Morrison, M.nu.

Hit 4.W no NOW cost basis tor the shares you you check your personal situa 7 mwjoo. 3.88 MnuvS" 3.88 tion with a tax expert. redeem. nwn It's a bit! H.I4JT, a 1 Q. Would you go into a little more detail regarding dividends and oanltal trains on mutual fund A.tAH nnn cvci.

lb van Elia shares? This vear I sold my fundi tier ATjf vi Apy-H IUSCU umjr uj shares and am trying to deter-ll i i II rnn ofmm7tm mi fund owner who has left his certificates with the custodian bank. Fund buvers who have their mine tne amount my jng- 'term ranital loss. share certificates in hand aren't In 1966 I bought 569 shares of. eligible for this treatment. a fund fnr S4.805 and SUDSeQUent- You can still do that, if your lv reinvested all distributions in where determining your cost additional shares.

Over the years the dividends amounted to $140; basis is concerned. In certain cases-you may now elect to use Master or Kearny oy p. i i r.LL-iL and'tapital gains to $1,250. led Zeppelin's Newest Future famn bv ee wood Mac Uuie nre by Kooerta riacK Diacn oaooain an "average cost basis for tne shares you redeem wound up with 752 snares Dut they were worth only $3,997 when: M.nu.lWI.n 30( 3 08 M.n.IUtB.n 3iJ8 It's a bit tnckv. however, it I redeemed them.

May .1 now: claim the orisinal cost and the I NOW NOW nun 1 i.A ir can be vused only by a fund owner who has left his cer romvectments as mv COSt basis? A. Yes. Full redemption ot your. tificates with the custodian bank. Fund buyers who have their share certificates in hand aren't eligible for this treatments sharcsvg'vc5 you a straignt-ior-i ward calculation ot costs as long YtnTA imtit roinrlc in? nremselv how much vou re- Before the change, you handled redemption of part of your I wmm Simnlv add un all vour nur-l fund holdings on an "identified" share basis.

You actually pin-nninted the shares vou were re chase costs for the full number of shares you owned to estab deeming and determined lish vour basis, in this examn e. 1 Hum 1 i 1 1 vhur initial investment and ad-i cost basis on each ot those shares to get your total basis for the redeemed portion. ditional shares brought your cost to $6,195, leaving you witn a tax IUUUU 01 IU VU3IJ UJ RnilUpaMUM VJ V.0MJ JIIIIUII nituiui vjiv.uii.ji iiii. TL.U LI a You can stiu do that, you loss of $2,198. I 1:..

c. now 0.00 NOW ,7 NOW shares are in a custodian ac Gray praised the single-member district concept, saying It marks "a breakthrough for black people.And not only for black people, but also for people in various socio-economic the first time, you have people living in a compact group who can have a man to consider and be responsive to their needs," he said. BOSTON-A teen-ager died in a neighboring state last Wednesday Of brain damage, but the corneas of his eyes and Uve on to the bodies of three Boston-area recipients Tha corSeas are functioning to some extent already for Ww. vS and his daughter, Mrs. Barbara Bubar, 46, ft wKThe kldne Is working for Theodore Hadge the MasSsIt" Eye and Ear Infirmary.

He performed the tmSSSi Miachusett. General Hospital completed the kidney transplant vrw vnRK-The Yugoslavian capital of Belgrade has of- S. Chess Federation disclosed yesterday that 10 nations and five cities had competed, in the bidding that Produced the largest cash prize offers in the history of tourna- who defeated Tigran Petrosian of the Soviet Union last 'fall in Buenos Aire, to round, said the bids were Vnut bad-they 11 have to do. He denefgS' not mean it wiU automaUcally be named the host city. Both Fischer and Spassky, also of the Soviet Union, will review the, bids and submit their preferences.

HOUSTON. George Garver says the new school boa'" Sat revemd his August firing has pledged to support a system allowing dismissal of teachers and principals who ail tn meet new performance standards. In interview. before the board voted 6 to 0 last night to reh'S as superintendent, Garver said he was returning a i nn commitment to a plan of educational excel ence thi Houston School District, the nation's sixth largest. A coZrSns vrating system will include ''having the rut, wSwe find a person incompetent, and unable to grow to recommend he te dismissed." Garvei said "There will be no witch hunt," he said, but added.

Personnel wht do not have the commitment to children will have tenure under careful scrutiny. We have no right to carry dead wood." NORFOLK. doctor was forced to amputate the leg of a truck drWer early today to free him from the tangled wreAiw of his cab where his other leg and an arm had hfVn severed in an accident SVi hours earlier. AuSies said Billy Eugene Godwin, 33 of Windsor remained conscious or semiconscious throughout the nrriMi which began when he swerved to avoid an automobile and rammed 1 brWge abutment on Interstate 64 at Norvlew, themcab of the 40-foot tractor, trailer, loaded with pSeVnd pickle relish, folded like an accordian in the and'rlght arm were severed In "the crash. AYRSHIRE, now have the 'power to marry others the new mayor said, "but if I want to get married mysei I must have my dad's signature on the marriage license because I'm under I NOW (Mr.

Elia will answer only countas most fund shares are handled vou also have the representative questions of gen efal interest in his column.) lootion of averaging your cost Entire Stock Of Columbia LongPlayers! Price-Slashed! 1 r-- SMITH Personal Finance By Carlton Smith Traditional Laissez-Faire Has Been Declared An Incompetent Slowly, the realization is sink- the House of Rothschild was in another era. They have an im ing in that life jn America will pressive record at Salomon, never be the same again. Brothers of knowing what's 1 I. mm il 'f'fAV Cmmar mi ku Potof N.m A Space Vm 1 Chicago 14 recordsl Where You Lead We aren't merely spectators about to happen seldom wrong, at some economic game being briefly played out until and often eerily accurate. Ten Years After at Carnegie by Barbara Mreisana New Economic Restraint I 2.98 Manu.

list 5.98 0 OO M.nu. Ii. Oft M.nu. SM 3 OO the whistle blows, alter which "We are embarkinc on IVV NOW NOW rvuvT wholly new system of economic we all go back to business as usual. From now on, we live in a controlled economy.

1 4jbBfaa 1 1 MT--' -1 restraint We are in tact now facing up to a massive Most of us haven't quite feat for all of us." The words ot ffrasned. vfit that our tradition Sidney Homer, a Salomon Broth ArMJLi, rassri.i al laissez-faire, lct-it-alone brand ers nartner who is retinna short of capitalism and free enter ly, and thinks he may have prise has been declared an in picked a good time for it: competent. If you find that hard "From now on it will be a1 new ball game for the American to credit, listen to a sampling of views from the strongholds of traditional free enterprise. WMa YMM capital don yet even know the new rules of the came. All we know is that! System Revolutlnoiiea "The American economic I .11...

Maw tu. There a Riot Coin un the old rules are obsolete. system has. been revolutionized," I Rnh an irf atCSI OHUUe wici nvura nmm IMC new jauiuiiu President Nixon, ne was tvmn Spitler. it Tnw Lakes Community College is the view of Burnnam the Wall Street brokerage firm.

"We are at bat, but we don't know whether there are three hnses. or six. or two. or where Vol I by Simon and GarfunkeL Mm-. 3 00 an M.n, a or 3.88 1 NOW 388 M'nuN 3.88 Vl r.v, 7 Whm the 298 residents "Strong words, perhaps, bur.

in essence the administration N0W ir 1 1 thev are! we don't know whether of him Novemb" 2' the ball will be pitched to us bv the pitcher, or by anybody to head their governmen Elmer has conceded that over a period of many years, the historic system of capitalism has been so altered that traditional eco- else." Much that's uncertain, dashed to Z'wnh to br his'son home. The President hut one condition of the new was on the phorte. ball eame of which there's little i nomic practices are no longc doubt: "Controls of some will continue." Says uean witter an True, the President has indi other brokerage firm: cated that Phase II is- tempor WHAT THEY'RE SAYING From The Wires of the Associated Press It was an announcement that a free society had failed in its raw Mmm ary, intended to last oniy longi enoueh to achieve near-term! efforts to meet the challenges obiectives: control of inflation without interfering in. the II 1 1 1 11 i onrl a return to full emnlnvment. free-market mechanism.

The rudest iolt. as yet unappreciated, Me and Bobby McGee Welcome My Worid JU Today by Marty Bobbins He like controls we'll soon be back to business as: I Kr Kr 0 erson bi naj rnw- M.nu. IHt S.tI OOO 0.0ft usual. NOW NOW NOW will be the recognition or tne loss of freedom to try to do, ya, act, work, produce or cam what the individual alone feels ne But can anyone memory be i so short as to forget that the March .1 Democratic presidential primary. "I've carried this gun as a policeman for 29 years to help people and keep the peace.

Now God has called me to change to the ministry." Lt Guy J. Downing, who is changing his Arkansas state trooper's uniform for the vestments of a minister in the United "The percent guideline must and will become a tight criterion'-Virgil Day, a business member of the Pay Board, We don't know what Mr. McCarthy is up Secretary of State John. L. Lewis' office after Eugene J.

McCarthy refused to sign a non-Communist oath in filing cx m. vittrv MilT TlATNTflTTN TTUnrC-RARPP. MIDWAY SHOPPING CENTER President strongly objected to, passage of the legislation that cessary or appropriate. And finally, Salomon Brothers the prestigious investment bank T-m Wi 1 M4WT him the authority to control waees and prices and said he ing 'firm that s. ts auiet un I mI A UniUbl UHI i mmwm wmrvwmm would never, never use it? obtrusive perhaps, the nearest thing we' have to what' (Newspaper Enterprise Assn.) Methodist Church.

a candidate in uie mue.