The Courier News from Blytheville, Arkansas on December 4, 1947 · Page 9
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The Courier News from Blytheville, Arkansas · Page 9

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Blytheville, Arkansas
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Thursday, December 4, 1947
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Page 9
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THURSDAY, DECEMBER 4, 1947 BLYTHEV1LLE (ARK,) COURIER NEWS .PAGE NWt Capital Scarce For New Firms Investors Wary Because of High Tax Obligations Banker's Plan Would Not Tax Firms Splitting All Income With Employes R)' Elmer 0. Waller (United Press Klnandul Editor) NEW YORK. Oca. <. tUPI - f jrtage of capital for Investment Industrial enterprise threatens to break the nation's business boom, Don G. Mitchell, president of Sylvanla Electric Products, Inc. warned today. He told the second session ot the 52nd Congress of American In dt.stry, sponsored by tile Nationa Association of Manufacturers Urn tlie only way to remedy tills sltua lion was through adequate lax re ciuctl'ons which will produce ade quate tax formations. Mitchell, who Is chairman of th taxation committee of the NAN urged acceptance of Hie associa lion's tax reduction plan which h held was "designed for the good o the whole economy." "The nation," he said, "will n continue to prosper and grow wit half a loaf of lax reduction. Inael' qnale tax reduction will mean ii adequate capital formation whic. in turn will mean less production, fewer and poorer johs and a declining standard of living for all the people. "This boom we're in is not going to bust because of any buyers slrike or shorlage of purchasing power—if it docs crack up, It will be because of Ihe shortage of venture capital which is rapidly becoming tire most serious economic problem of the nation. Half a loal of tax reduction is not going :o remedy this malnutrition of the nation's economy." Sen. John J. Sparkmcn ft). Ala.) told the manufacturers that a lib- ers! but not. wasteful spending program was desirable in the federal tfftrnmcnt as in business to the ex- teVit "lhat it brings results." A l«rge budget, can be justified 6«n. sparkman held, "If our expenditures serve to maintain purchasing power and productivity on a high level." WASHINGTON, Dec. 4. (UP)—A *• Pennsylvania banker and lawyer uposed that freedom from tuxes ! ie granted to firms which guaran- e year-round employment and gree lo spill si' 1'icome with their orkcrs. Chauncey E. Bi'ockway .attorney nd president of the First Natlomil ank In Sharon. Pa., tokl the House Ways and Means Commli- ec his plan would assure jobs for II, bolster federal revenues, avoid epresslon and defeat Communism. I "The present type of capitalism, ! working lor only a portion of thu j >eople, has demonstrated that it , cannot provide jobs for all the men who want to work when supply • >asses demand," Brockway said, He said equity capital—money represented by common and preferred stock—should be placed "on the payroll" and paid a regular wage based on six per cent interest but varying up and down «Hh income. , l Alter deductions for costs and reserves, all Income would !« divided according to a fixed formula between capital and employes, Jobs lor a specified number of workers would be guaranteed. Corporations accepting the plan would pay no taxes. Participating Bootleggers Most Active In Southeastern States WASHINGTON, Dec. 4 (II I" 1 ) — The Internal Revenue Bureau said today Its agents seized 570 illegal liquor, stills during October, 32 more than were raided In the- correspon dine month last year. Agents tn the district thai Includes Alabama, Florida, Georgia and South Carolina xnoctced over 270 stills to lead nil other districts. Kentucky unit Tennessee »'«re third on Ihe revenue bureau list with 62 raids for Ihe month. The district, lhat comprises Washington, D. C., Maryland, North Carolina. Virginia and West Virginia was scored with 178 seizures. The region Including Arkansas, Kansas, Missouri, and Oklahoma was fourth with 60 seizures. Tennesscecm Robbed NASHVILLE, Term., Hep. 4. (UP) aam Parks lold police ruefully today Hint perhaps he should pick belter pliu'f.i lo count his money. Parks said lie stopped under n slrcet light lust night to finger hl» loldniK money, Sorflcone c!»c—he wonders wlio—'low h»s his $160, ami Parks Imx a bump on his head where someone slugged Ulm. Much of China's wenlth Is held oy women. It cornea to Ihcm through ( dowries and Inheritances. RECTAL DISEASES A SPECIALTY (All Typ*. Kxeepl Cuuer)' ORS. NIESANIES Citato 514 lUta, BI>th**Ulc, Art, rktmt MCI workers, in return for assured employment and possibly profit, would forego union membership and Ihe right to strike. Brockway said the plan should »ct an Initial test among corporations employing 20 people or less each lo be allotted a dctinite number of Jobs. He said loss of corporate taxes would be more than offset In two years by higher personal in come taxes of employes. Once the program was in fill swing, Brockway said, each s-cgmcn of Industry would be allotted it portion of the labor market of 50,000.000 men. Assignments also would go to each corporation. DON'T FENCE YOUR TOES IN Give Them Room... Lots of Room Officer Charged With Embezzling Gets Promotion CAMP LEE, Va., Dec. 4. tUP>— Army officials today announced that a missing army lieutenant, charged with embezzling the pay of lellow officers has been promoted to the rank of captain for "service and aptitude." The promotion came through while the Federal Bureau of Investigation and military police intensified their search for former 1st Lt. Edward P. Kelly, 40, of Den. ville, N. J. The former restaurant manager vanished Monday after picking up $14,147.75 in checks at the post finance office at the request of 37 •t.j.'snmtc.s at & Quartermaster The embezzlement charges were reduced when a feilow officer Kelly'i class of "specially selected' men received 35 of the checks Tuesday in a plain white envelope postmarked Richmond, Va. The government had stopped payment 01 the checks. Col. K. W. Dalton, Camp Lee in tpector-gcneral, said Kelly cashed his own check and two other which t bank employees assumed were properly endorsed, collected $1.355.71 and disappeared. Kelly, in the Array seven years, was married and served one year overseas as commanding officer of a service company. i Dalton said in s addition to the FBI's charges of ^embezzling government, funds, the newly-mHde captain was absent without leave and v;ould be subject to military law when found. Mother Refuses to Give Up Daughter in Kidnap, Marry-for-Money Plot TIJUANA. Mex.. Dec. 4. (UP)—A wealthy Mexican landholder refused yesterday to sign away her daughter's hand and fortune to get ! her back from five brothers who have held her captive 12 days. The mother. Senora Consuelo Capacela. said the father of the men refused to return the girl unless she agreed to a marriage with his youngest son. "I am convinced that only gun law prevails," she said. FifteSn-year-old Maria Jesus Yolando Escobar, heiress to a l.OCO.- OOO-peso fortune, is hidden somewhere in the mountain wilds of Mazatlan, where there are only 15 policemen for 40,000 Inhabitants. Senora Capaceta appealed for government troops lo rescue her. Officers referred the request to leadquarters.- . a s y e r m s x i r a o *» t 4 DIAMOND 4 glittering diamonds « throned in gleaming ' mounting* of 14k f.-D!d. Don't cramp your toe*! "Witll.li plus wing-tip styling, is the Marston .. . sturdy, rugged. More comfort, plus good-looking design, plus long wear, add up to the Bostoniau for you , . . Bostoniuii Marst«u, $12.95 &_ SONS SHOES Now---For Christmas — right In House Slippers eas 6 DIAMOND DUETTE 6 tparklino diamonds **'$4 M AQQ in •xquitif* mounting* of I All 14k gold. " *** ILIDGET rAYMINH LARGER DIAMOND GIVE HER A From FITZPATRICK'S TMi Chrlilmas fulfil lhat promli* mad« long ago. Prtwnt htr with o n«w . . . largir diamond, W. f«»l certain that one. you »«• egr fin* wl.ellon you will find just Ihe 8 «m you w.ro taking ot 1h« prle. you wont lo pay. lath »ton» if cut and polished by experts lo bring out all ilt glorlou. b.auty. And Ihe mounting .. . crafl.d o» gl.arolng 14K gold In tht mo.t mod.m tlylti. <°^ .-^ _/^ Becman Gets Bee Job SALEM, Ore. (UP)—"A man with that name is the man for the job," Stale Agriculture Director E. L. Peterson said as he appointed, Donald Beeman, Ely, Ore., as a apiary inspector for Lake, 'Klsmath and Jackson counties. REVIVAL TONIGHT! .REV. JOHN W! FKYr- (i-ho speaks tonight at 7:3C on "One Thing I Know" at Ihe beautiful, new FIRST CHRISTIAN CHURCH 600 W. Alain Street Blvtheville Padded Soles . Men's Leather Slippers 2 95 Men's Felt Slippers Heavy Felr Uppers Hard Leather Solas Rubber Heels $2.80 Men's Opera Slippers •00 Children's HOUSE SLIPPERS Large Selection QQ and Assortment jQ of Styles 3 DIAMOND SOLITAIRE Center ttone / comple- • merited by 2.smaller diamonds. 14Kgold mounting Chane It '^f* '» «*7 '"•W" DIAMOND SOLITAIRE Superb diamond set in. modern 14K mounting. ;*H- gold $75 Frre Credit *»<0 Women's House Slippers Women's House Slippers Sheep Lined All Styles w AS S2 95 FAMILY SHOE STORE 7 DIAMOND SOLITAIRE 7 glorious diamondsj mounted in gleaming 14K gold. . Orien an Aceeunl 5 DIAMOND SOLITAIRE 5 sparkling diamonds set ^ in crafted 14K gold mounting. FiTZPATRICK JEWELERS 122 W. Main Phone 2728 Stores in Blytheville, Memphis, Osceota, Poragould, Sikeston It Takes Qnly 3 Minutes to Open a Charge Account Small Down Payment —Balance a Year to Pay I

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