Sunday Gazette-Mail from Charleston, West Virginia on July 16, 1972 · Page 9
Get access to this page with a Free Trial
Click to view larger version
July 16, 1972

Sunday Gazette-Mail from Charleston, West Virginia · Page 9

Publication:
Location:
Charleston, West Virginia
Issue Date:
Sunday, July 16, 1972
Page:
Page 9
Cancel
Start Free Trial

Page 9 article text (OCR)

Sunday ... Ch»rt«ten, Wtst Vlrtlnli ·A--July 16. 1972 Report Hits Timber, Oil Capital Gain Tax Breaks The Washington Post WASHINGTON - The Joint Economic Committee of Congress published a study Saturday as- The study, which was done for the committee by Emii M. Sun ley Jr., an economist with the Treasury's office of tax analysis setting that each year the timber says that' most of the $130 mff industry is forgiven more than $130 million in federal taxes that it probably should be required to woodlot fanner. lion accrues each year "to large corporations and not to the sma! pay. The forgiveness lies in a law that treats money made in growing timber as a capital gain instead of as ordinary income, and thus taxes it at a lower rate. FrontPage 1 McGovern Rules Out Israel Visit his campaign plane as he returned here last night from the national convention at Miami Beach, McGovern said he did not plan any foreign trips. Looking relaxed, McGovern decided in midflight to spend the weekend in seclusion at his Japanese-style home here instead of flying Saturday to the Black Hills of South Dajota to begin a two-week vacation. He said he intended to spend the first week resting and the second thinking about the campaign and trying to get-in touch with some unenthusiastic regular party elements, such as George Meany, president of the American Federation of Labor and Congress of Industrial Organizations. Asked about Meany, who has adamantly opposed his candidacy, McGovern said, "I didn't try frankly to get in touch in Miar.. --I was just too busy." He said that an aide to Mayor Richard J. Daley of Chicago, whose uncommitted Cook County delegates were unseated at the convention, had called to his In 1968, Sunley says on basis of Treasury documents, al most hah" of the "tax subsidy' went to "just five" corporations which he does not name. The Sunley study was one of seven that the committee issuec Saturday exploring what the chairman, Sen. William Proxmire, D-Wis., said were $23 billion in tax subsidies. The committee is making an extended study of federal subsidies of all kinds, those given out directly as expenditures, as well as those handed out indirectly through the tax code. Proxmire offered the seven new papers as fodder for the growing political debate in this election year over federal spending and tax reform. One of the papers examines the oil depletion allowance and other tax advantages of the oil industry, and finds that "we do not know what benefits we are getting for our tax expenditures . . . those benefits may be worth less than they now cost, and there may be less costly means' to achieve them. Other papers examine s u c h things as the tax-exempt status of state and municipal bonds (It might be cheaper and work just as well simply to give the states and cities federal grants to help them pay the higher interest rates on taxable bonds, the study says), and whether there is any justification for having a lower iax rate on capital gains in the first place ("The case has yet OKN DAILY 10-10; SUN. 1-7 A Oivfeiwi ·! $.$. KM** C»., with SIMM in riw UihVtf SIMM. Cmw*. Pwrto lie*. Awfrafc congratulate him a f t e r nomination and said he'd be hearing from the mayor. According to Gary Hart, national director of the McGovern c a m p a i g n , Lawrence F. O'Brien, who was replaced Friday as national party chairman Marion J. and Mary Charleston. William A., Steel, Nell S. Bigler, and John R., Izzie J., Robert L., James A. and Mary McCoy i°. George C. Pervill, lot C, Maiden jistnct. George W , Fannie, Wayne E. and Robert c. Fleshrnan, Helen F. Rlpley, and A. c. and Elizabeth F. Flick ,,_ --" ',,' -· -"" "" aTM A. L. and Elizabeth F. Flick to by Mrs. Jean WestWOOd, Will l??***- ?"" Emma M. Wyatt, parcel, , · , . , , , Union District. play a major role in what he called "Project Outreach." "Outreach" is a euphemism for the time-honored postcon- vention kiss-and-make-up process and O'Brien's special burden. Hart said, will be to establish contact with labor and old- line political leaders "who trust his judgment and recommendations." Hart also promised that Sen, Edward M. Kennedy of Massachusetts, while having no title in the South Dakotan's organization, would campaign extensively for McGovern, as would other members of the Kennedy family. Supreme Court Discord Stories Said Unfounded WHITE SULPHUR SPRINGS, W. Va.--#r--Justice Lewis F. Powell Jr. said Saturday that reports of division and discord among members of the Supreme Court are not true. Powell, appointed to the court by President Nixon last year, said that contrary to some reports "the court is not 'seething' with discord." His remarks were prepared for delivery to the annual meeting of the Virginia Bar Association. "It is evident from our opinions thai we do hold strong views on many of the difficult questions before us," Powell said. "But there is mutual respect and cordiality among the justices and this traditional spirit is not impaired even when great issues divide the court most sharply." to be made,' eludes). this study yet con- While Quantities Property Transfers Charleston Realty Co. to Walter D. and Mary 6. Evans Jr., lot 213, part lot 512, Armor Vlsw Addition, Jefferson District. Ben and Ttielma L. Fogleman to S. J. Richard Jr. lot 14, block B-4, South . Phillip R. and Judy L .Tulloh Marion M. and Dixie L. Shreve, 63-44, Highland Addition, St. Albans. Elkwood Inc. to Alice parcel, Maiden District. . L. Broimard, Charleston Really Co. to Walter D and M lT. y .. G - Ev »ns, | 0 t 403, Armor View Addition, Jefferson District. Denver C. and Jo Ann Dent to William C. and Marian C. Clendenln, lot 6, section 5, Sattes, Union District. Jackie H. and Wanda L. Thorn;,* to Isaac T. and Zella M. Marks, lot 156, -action 1, Arborland Acres, JeT Gerald and ·Florence Mayor to Ray C and Betty P.Darnell, lot 26, section B, Weslgate Subdivision, Union District Soutti Charleston Lumber Co to Robert M. and Barbara J. Paxton Jr., lot Hsmrick Subdivision, Union District E. Ross and Courtney A. Burks to Charles W. and Joyce A. Jarrett Jr., lot t, part lot 17, section 10, Riverbend Addition, Jefferson District Ibrahim M. and Evalee Chalhoub to C Ray Harrison, lot 13, Robson Home Addition, Charleston. Carl A. and Myrtle B. Po? to Joseph T ! ard Regina W. Skagas, parcel, Jefferson i District. i Chester Sloan to Roy R. and Phyllis 1.1 Wolfe, lot 146-E, Dunbar, Union District Denver E. and O. Pauline Goff to* ienver L. and Karen J. Walker, lot 12,' block E, Schabe Addition, Dunbar Joan P. Cox to Leo c. and Zelma A. £,"£,, '?' . 18 ' B rl*evlew Addition, soutti Charleston. y,f n l' L V- c r?, n . no . r . '" H *rold L. and SPECIAL PURCHASE DRESSES REDWOOD STAIN ««g. 2.77--Sun. 4 Mom Penetrating stain gives new redwood uniformity of color to all redwood lawn furniture. MEN'S NO-IRON KNIT FLARES ft«g. f 4.86--Sun. ft Mon. 8 97 PAIR Polyester double knit dress slacks with belt loops. Solids. 29*38. MEN'S CASUAL SUP-ONS Reg. 4.47--Sun. Mon. ^^^ »^ Step into style with these com- JI^R V W fortable vinyl shp-ons. Casual ^f m M slip-ons with buckle ornament on the vamp. Brown. 7-12. "·· ^irm -^l 3 "NO-FUSS" PHOTO ALBUM Reg. 7.97-Sun. Mon. 3 one-inch ring album with 6 magnetic sheets; hold photos securely. I 37 *·***»*·····«« · *"*"*·*"»····. "*»V»\*»*AW«* * - FOCAL . R. B. and Juansta G. Tracy to Charles t ' w t parcel - Ten-Mile Creek, r , LJISirlCt. Wallace F. and Nancy J. Suttle to CAROUSEL SLIDE TRAYS Reg. 2. / 4--Sun. Mon. Focal' 6 trays conveniently hold 80 slides. Will fit Kodak Carouse! projectors. For exhibition and storage. 7 97 POLYESTER S ROOM ' ;x *^* '* a * ! * : * £ ^iimmf' -TT "·"···'^TM^ s ^^SSliiii^ . . o-.-. ·2? ro ] d A ' ina Karen S. Curlis, parcel, '··'·· Big Sandy District. ' I - X Sidney W and Edith L. Adkins to '·"' Jacob D. Smith Jr., Irusl'ee, Malcolm Addition. Dickinson. Ja c J.. E l t h L - lot 106, . Jr - »TMstee, to Sidney lot 106, Malcolm . Addition, Dickinson. William J. and Pansy J. Weikle to George H. and Christine C. Shaffer Jr parcel, Elk District. Malissie White to E. L. Thigptn, lot 1, bloc* F, Addtion A, Glasgow Wade E. Spradling to Jess H. and Betty L. Moore, parcel. Maiden District Dayle W. and Monita G. Smith 'to Bennie H. and Barbara E. Ncwhouse Sr parcel, Charleston Monk Brothers Builders Inc. to James E. and Peggy c. Brown, lot 155, part lot C ' """^ Heiah ' 5 ' Tech Foundation Inc. to William c and Blanche Jones Jr., 3 parcels, Morris Creek, Cabin Creek District Jesse B and Karen L. Thaxlon to John E. and Sharon K. Johnson, parcel, Union , , "?;,., Hi " ls !l flw to Vlvian G - Hansh lot 6, Willow Ct., Jefferson District , Thomas M. and Shelby Jones to Thomas R. and Shriley R. Rucker, lots 20-21 section D, Tilford Acres, Elk District. Charles F. and Jo A. James lo John w. and Alma E. Brough, part lots 26-28, Massey Subdivision, South Charleston ' YMCA Sponsors Beckley Drama Bus Excursion ,, _, lnc ' "! ER lnc - · Will-o-Bend, Jefferson District. Lemma Realty Inc. to Union Boiler Co., parcel, Union District. Herman E. and Greta O. Graham to James w. Kearns, parcel, Bio Sandv District. John A. Crouch to Fonda J. Crouch, lot 5, block 24, Dunbar. Hayford W. and Ev» E. Cavender to Carl M. and Beulah M. Copley, parcel, Elk District. James M. and June D. Sprousc to Robert V. and Cassandra Welty, lot 55, Sherworxf Forest Subdivision, Union District. D. L. Howery to William N. and Anna P. Price, lot D and parcel, Chandlers Branch, Jefferson District. Save 5.0513 SMOOTH UNISPIN ROD AND REEL 19.91 Our Reg. 24.96 6'/z' tubular glass rod, 63'semi-enclosed reel. GAPING HEEDS STOOL REPELLENT I.I 7 77 !::$3 : ^ GENERAL ELECTRIC DEHUMIDIFIER R*g. 89.88-- Sun. Mon. % ! 66 66 Sisss^ss^^ * SPIN-ON · TYPE Just the time to get a dehumi'di- fier for the hot humid weather ft- ahead. Compact size removes 14 $· pints of water per day from air. ··'·: Pocket size folding stool. 6 oz. size insect repellent. Sahara 14 Recommended For 20'x 25 Foot Rooms. TISSUE HOLDER » 97« ¥: Dispenser for cars is | handy for driver. f" MON. OIL FILTER 7.89 Fislc Oil Filter. Spin on type save. Sporting Goods Dept. The South Charleston YMCA is sponsoring a trip to Grandview State Park July 22 for the Hatfields and McCoys show. | The bus will leave the South Charleston YMCA at 4 p.m. and R £££ tt ATrchaVVoT 0*00^11 Mar 3 the COSt Of the trip Will be $8. | ie^ Hopkins, 2l','of 1566 Kanawha Blvd. V," Reservations must be in to the r ""' Marriage Applications YMCA day. no later than Wednes- Earthen Dike Burst Kills 4 Meadows, 21, of Rt. 6, Charleston, Roielen* Lynn Roupe, 17, of 2280 Oakridqe Dr., Charleston. William Eugene White, 71, of 4209 River Avi., South Charleston, Deborah Sue McGraw, 19, of 604 Kanawha Ave., Nitro. | Bobbv Jack Stewart, M, of 8511'? Ohio i Ave., /V.armet, Delores Irene Justice, it,, :of 4419 Washington St., W. Charleston, i Rov Kenneth Sizcmore, 30, ol Chi»rl«- jlon, Patricia Lou Didas, 29, of ISOii (Windsor Dr., Charleston. | Roser Deal O'Dnll, 23, of Deanrw AIU Lively 21, of !«24-B Mc- ·fi--jClund St., Charleston. j Tu4 Ronald Keitti Bantista, 22, of 545J - "leaiPacific St., Charleston, Connie Sue Walk-i Saturday when violent, thunder-l^^j cftto^PaTne^^'o"^TM' Storms On the Adriatic COastJRouto. SIssonviHe, Patty Lou Field!, hnrct in rtarthan /iikf* Hiimnififfi 0 * '^ Walker Ave., Charieston. Diirii an carmen UKB. aumping John 3ra£)ford cafroii, is, o Ions Of Water on this remote Nyoka Geyser, 19, o fDsota. .-__ I Franfclin Allen Wfttirow, 18, of 2710 l0 ""- IFourth Ave.. Charleston, Anita Carol The rains caused extensivei«·"''«· ."· of w Pen« st., s o u t h j . .. ,. . ,. . (Charleston. destruction all along the COast, Pair Allen Fost,»r, TI, of Cedar Grove, from Ban to Manfredonia. El-! Y ° TBh %*^ F r^T^ yo r f ?i?T of sw even other nersons were ;niured' | ' ( x* tl ai» Dr.. Charleston,' coooi« su« and taken to hospitals. ' ' 'gff-"- 17 ' ° 'TM wmz A v e ' Ch » rlM ' HEAVY-DUTY BROILER FOIL MANFREDONIA. Three children and Italy a man JOHNSON'S BABY LOTION -Sun. Mon. TRAY-PACK SWABS 400'S Reg. 97 -- Sun. A Mon. I Soft. Multi-purpose. J) SHAMPOO FOR BABIES Reg. 1.02--Sun. Man. 57 C BIG ICE FLASK Reg. 97* 48* ill with water. REGARrFOR WOOD PANELS Reg. 1.73--Sun, 28 Beautifies. 14 oz.-* Plaza at Patrick Street Bridge and Fourth Avenue

Get full access with a Free Trial

Start Free Trial

What members have found on this page