The Courier News from Blytheville, Arkansas on December 11, 1947 · Page 13
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The Courier News from Blytheville, Arkansas · Page 13

Blytheville, Arkansas
Issue Date:
Thursday, December 11, 1947
Page 13
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^THURSDAY. DECEMBER II, 194T Tax Exemption Clause Studied House Committee Hears Complaint From Businessmen WASHINGTON, Ltec. 11 <UPt- Ae House Ways and Means Com- WUee neared the end of Its lone tax revision hearings today with one ticklish problem still on the agenda. This problem concerns the present tax-exempt status of educational organizations. Many businessmen and businessmen's associations object lo competition from commercial enterprises ^hlch. because they belong to such organizations, pay no taxes. Why, the National Tax Equality Association has asked, should New- York University be permitted to own anrt operate a tax-exempt spa- chetti factory when Its privately owned competitors must pay heavy taxes? " The university will be given an opportunity to make UK answer to the Tax Equality Association tomorrow. That will wind up all hearings now scheduled on tax revision, although there may be a few additional sessions held when Congress returns from Us regular sewioii in January. Committee Chairman Harold Knutson, R., Minn., hopes lo have a lax revision bill ready for introduction early in March. Under present plans, this will be separate from Knutson's new proposal to cut In«'™™I lncome Uxes more th » n 55^00,000,000 a year, beginning in BLTTHFvTLLE (ARK.)' COURTS* British Jet Fighter Takes Off From Carrier * '*"*'* r ~* ' —•-- Marking the first time that a British jet aircraft with tail wheel-type unUcrcarrin B e landed on a ships deck, a Nene fiRhler plane Is pictured during tests In which it successfully look nlf and landlb a dozen times from HMS Illustrious. Looking on are the plane's builders, military and naval observers antl mprnhi»r« n* *Vio ^9*->-4n^i. „-„,.. servers and members of the carrier's cr«w. Four Americans Leap from C-47, in Turkey ISTANBUL, Dec. II (UP)-Four Americans who parachuted from a G-47 transport plane on Tuesday have been found safe and are continuing their Journey to Baghdad It was disclosed today.-, Their plane which took oft from Rome, ran out of casoline in- a •torrn and crashed near the town of Izmir, Turkey. Shepherds cared lor the Americans until a military plane from Ankara picked (hem up Two bulldogs which were left in the plane were found alive in the wreckage. One of the Americans, Lt. Col James Coward, was reported slightly Injured, but was continuing the trip after treatment. The other Americans were unscratched. They wer a Capt. MacMurray and Sets Hugh Willis and Paul Harncs. ' Ends Training Course Technical Sergeant Garland M Bunch of Blytheville, attached to Headquarters Company, Governors Island, New York, ha s completed • Troup Information and Educa- .on Conference at -First Army Headquarters there, the Armv said Soviet Zone In Korea Thrown Into Chaos by Economic Order today. By Stanley Rich United Press Staff Correspondent SEOUL, Korea, Dec., 11. (UP) — Press dispatches and refugees reported today that the Soviet-controlled government had thrown the Northern half of Korea into economic chaos by confiscating nil currency and closing all but nationally-owned stores. Up to 500 yen in new currency was returned to the heart of each family and up to 200 yen to others, it was reported. Soviet and North Korei.n army troops were reported to have been given back up to 10.COO yen each. The exchange value of the new currency will nol be announced until February ^. and North Korea was reported operating on a "rice economy." iTiic yen is worth J5 cents in the Southern. American-controlled hall of Korea.) , The neivspaper Dai Dong Sin- Moon, refugees from Northern Korea and other Korean informants told this story of what went on in the Northern zone: Buyliif Kush Throttled On December 4. the North Korean radio, loudspenke; trucks and handbills signed by Premier Kim II- Sung announced that all currency must be turned into banks by Dei cember 7. All North vKoreans immediately stopped work and lushed lo the nearest town to buy anything of resale value with their old currency.' The government apparently had anticipated this, however, and on noon ol the same day closed all stores except those nationally-own- ed. Troops flooded Pyongyang, capita! ot the Soviet zone, to enforce llie closures. Stale-owned department nnri rice stores did a land-olfice business, but later stopped soiling except to members of the Comtnunlsl-spon- sorcd North Koi'ea Labor Party, who had party ration cards. Refugees said North Koreans who had South Korean currrac.v probably would try lo slip across tllH border anil exchange it for gold or silver. It was estimated that 2.100.| 000.000 South Korean yen are in the Northern zone, although Soviet nulhorittes outlawed nnylhing but Red Army currency there in 19-15. Administration Policy Assailed By Minnesotan WASHINGTON, Dec. 11. (UP) — 3en. Joseph H. Ball, R., Minn., proposed today that Congress prohibit I the Army from using occupation ! spprouimlions for dismantling German factories to ship to Russia as reparations. He .said he and .some other members of Ihe Senate Appropriations Committee were "pretty disgusted" about the administration's policy on German factories. He said "it just doesn't make sense" for the administration lo . help build yp Russia by giving her | German factories nt the .^aine time • Congress is naked for billions of dollars to stop Communism in \Vesler:i Euiopc. Textile Mills Must Replace Old Equipment COLUMBIA. S. C,, Dec, 11. (UP) — Trade - sources roughly figured ! today that, cotton mills In the South need to spend In excess of M15,000,000 more than they have been nble lo accumulate in reserves to replace Average ma- I chinery. buildings and equipment. The estimate was based on » survey of the entire industry jujl completed by textile iiiforiiuUlon service, which reported that half or all equipment needed replacing. The survey said that, deprlcla- blc assets such as machinery and equipment originally cost over $1000.000,000, but lhat'to replace these on the current market would cost $2,000.000,00. Reserves wre set aside during the useful life ol the machinery based on the original cost. In accordance wllh tax regulations. The average life or textile machinery, equipment and and buildings, the textile Information' service said, was figured at 27 years, and ror the entire 27 years previous to tl'e cntl of the war. profits In Industry were only $1,000,000,000. Expenditures for machinery and equipment this ycnr were expected to exceed $150,000.000, and estimates for the next !lvc years ran as high as $200,000,000 annually. Pedestrian Killed •i - • RUSSELLVILLE, Ark., Dec. 11. lUPi—Funeral services were being Reorganization Plan Protested. Owners of Arkansas Railroad Submit Objections to ICC WASHINGTON'. Deo. 11. (U!>t~ The Missouri * Arkansas Railway Co. yesterday protested the Introduction of reorga nl/atlon propomlj Into lt< request before Ihe Inter*ta(e Commerce commLwIon for permission lo abandon 11* entire line. Tlit company snid the rtorganl- latlon repoit.i were Incompetent and not pertinent to Ihe abandonment proceeding*. The reporla were prepared bv three receivers of llie Une who were appointed by federal district court The receivers, acting mid«r court order, offered the 1C porl.i for lit- clu«!on In the abandonment, case The romniLvlon at the lime accepted Ihe. wports and ordered any .objections to be filed by r>*c. n The commission aho extended the deadline for jllinj, Melt la Dee.. 31. The railroad In October. 1946, applied lor permission to abandon II* 365 miles of truck between Jop- )ln, Mo., and Helena. Ark. The Vine !ia« nol l>een operating since 1146. At (hat ((me the carrier staled "Ihe financial history of the line has been one ol cotulanl losses... there appears no reasonable hope that past ,hlstoiy Him pi-agent experience can be reversed." The Slate of Arkansas has opposed abandonment of the line. • In its protest today, Die railroad said Ihe studies nnd suggestions are not "sworn teitimony" and "do not purport to establish Itch." It said they are "merely suggestions and proposals for an operation by the receivers." Half Moon New* N. j. Jonea. joe Baker and Ua- loiia Jone* have (one lo Long Beach, Calif., lo Malt with Mr and Mri. Harold Mlnyard Mr. and Mrs. N n, Yankee huve gone lo Jonesboro for • brl«f vWl with Tour Garretl and family. Barney Banwa and family wllh Mls 5 Delores Moaley vlnlted Ihe p«»t week In Medina, Term,, with Warner Barne* and family. The Women's Society ol Chi-li- Dies in Auto Accident PORT SMITH. Aik.. Dec. 11. 'UP)—Funeral services «-or« planned today for Gerald Robert Huston. 2«. of Fort Smith, who died yesterday in an auto nccldenl near Salllsasv. Okln, According lo the Oklahoma Hl»l>- ivny Patrol. Ihe car In which Huston was rlclhiR tried to avoid nn approaching bus and Instead collided with a truck H was trying to pass. planned today lor 62 year old Nix Off. of Potlsville. who was killed yesterday when he stepped In front' of a car at Pottsvllle. The cnr 'was driven by W Virgil -TACk.wn, Ruucnvllle cannery ope- Uin S«viee of Half Moon Metho- ... , ^ —— HUt Church met Tueaday night at slt - h * lor • ChrirtWM parir • lh« church with eight member* I?**'/ The P»<*» will k* -halt liruenl. Officer* wer« elected and ne " Oln * °* Mra. On* jfltai HEADACHE CflPUDlNF ILECTRIC COMFORTER wMtt tk, AutaMMc C*««r«l TS« Rrtt eompW^ely automatic Electric Comforter «v«r oOtrMI i,,. now available h«r«. No other b«dcovtring needed; a gentU wanntia ia automatically maintained all night by the b«daide control-- •prr«ds evenly over Die gcticroua 72 X 86 iiichea, double b*d lUM Juat plug into any A-C outlet, aet the control, and the* , Watchman doea the real, regardlcae of how the wc«th«r -hnnQtat Outer ahell of quilted rayon aatin, in roae, hlue or green with matching undercover of »piin rayon faille thnt anchor! 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Watch how TREND billow* up into &»* times »• m*ny busy swds M competing product*! Watch Wow itcuta greaae ewm in hardest, eoldestwater. The« if not satisfied that TREND » the best muteeir you have ever tried, return the unused package and your grocer will gladly refund the entire pwrehaae pnce. Fa»r enough? Try TKBND. Your grocer few *. Hurry... Limited Tim* Only! This offer good only in Blytheville and vicinity Trend MWMO, I'rrn OrporoMn, 1M., •o •iO

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