The Baytown Sun from Baytown, Texas on February 2, 1969 · Page 14
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The Baytown Sun from Baytown, Texas · Page 14

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Baytown, Texas
Issue Date:
Sunday, February 2, 1969
Page:
Page 14
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14 91ft ftnit Sunday, February 2, 1969 0.3 0.2 0.1 PERCENT THE COST OF FIRE 1946 1948 1950 1952 1954 1956 1958 1960 1962 1964 1966 In the late 1940s, fire losses (exclusive of forest fires) come to more than 3 per cent of the U.S. gross national product, according to National Fire Protection Association statistics. The rate has declined to little more than 2 per cent currently, although the total dollar loss is much higher because of the rapid growth of the GNP during the past two decades. OIL DEPLETION BATTLE MAY BE A BIT DIFFERENT By MAX B. SKELTON AP Oil Writer HOUSTON, Tex. (AP) -The 1969 congressional battle over the petroleum industry's 27& per cent depletion tax allowance may be a bit different from those of the past. Attacks are taking .shape in both the House and Senate. Most of the attacks in the past have been in the Senate. Rep. Henry S. Reuss, D-Wis., has introduced a House measure he says would increase the industry's tax bill $900 million a year. The proposal came as no surprise to the industry. Oilmen have been saying they must be prepared to field before the 91st Congress a vigorous defense of the tax allowance. They also had anticipated attacks in both houses. House opposition is not new. Proposals to cut the controversial 27& per cent simply have made little progress. Some 35 House members in the 90th Congress introduced bills that would have reduced oil and gas production depletion rates one way or another. The Reuss bill that would reduce the rate to 15 per cent also is not new. Sen. John J. Williams, R-Del., proposed an outright reduction to 15 per cent as early as 1958 but without success. Several Senate roll call votes also have defeated proposals for graduated reductions to 15 per cent. One of the major backers of this plan has been Sen. William Proxmire, another Wisconsin Democrat who has left no doubt he plans another attack this year. Reuss described the 27W per cent as a notorious tax loophole. Oiimen contend high risks involved in explorations make the allowance essential if the industry is to have sufficient incentive to maintain adequate domestic oil and gas reserves. As has been the case several times in recent years in the Senate, a full-s c a 1 e hearing could develop in 1969 in the House. Rep. Wilbur Mills, D- Ark., chairman of the powerful Ways and Means Committee, told depletion opponents last year they would be heard when tax reform proposals were ;tudied by the 91st Congress. Mills' statement was made at a time when he anticipated that former President Johnson would submit a package of tax reform suggestions to Congress by Dec. 31. Late in the year,, however, Johnson decided not ,o submit the Treasury Department package. Johnson was not expected to propose a cut in oil's depletion but there had been much speculation the reform package could open the door for an all' out attack on the allowance. President Nixon has endorsed Baytown Students To Get Baylor Degrees May 30 ^>ix Ltuyiown area students vviiij met requirements in January lor graduation 1'rom iiaylor University will receive diplomas in spring com- mencemem ceremonies May ;iO. Alarler.e Butcher, daughter oi Air. ami Mrs. H. W. Butcher, 21-1 i. Lyncliburg Koad, received her L5A degree in speech. She graduated cum laude. ouier new graduates from Baylor ure Hubert L. Floyd, BA, psychology, son ot Mr. and Mrs. it. W. Floyd. Hiu:i Florida; Clyde L. Fuller, BA, radio - television, son ol Dr. and Mrs. C. L. Fuller, 2W .Souuiwood. Nancy Lu, BS, Oiology. daughter ot Mr. and Alr.v Paul John, 2u:i Live Oak. Also. Hohbie Jean Lawhon, BA, elementary education, daughier ot Mr. and Mrs. C. V. Lawhon, JVU1 Olive, and Jerry Lynn Lyons, BBA, marketing management, son of Mr. and Mrs. Al. C. Lyons, 4U1 Live Oak. the retention of the full 27H per cent. The Reuss cut was proposed in a tax reform bill he said would raise about $9 billion in new revenues. A similar package with an objective of £L5 billion in revenues also was submitted by Rep. Seymour Halpern, R- N.Y. Both bills also would cut depletion allowances that now apply to other minerals. Oil's 27& per cent has remained unchanged since the 1926 enactment of a depletion allowance measure that applies to more than 100 other commodities ranging from uranium to sand and gravel. Only oil and gas production receive the 27V4 per cent. Sulphur and uranium have 23 per cent. Sand, gravel and oyster shell are at the bottom with 5 per cent. Producers can deduct their allowance from the gross income on each producing property but the allowance cannot exceed 50 per cent of the net income. 3.3 Per Cent Of American Labor Force Out Of Work By JOHN CUNNIFF AP Business Analyst NEW YORK (AP) - In November there were 2,643,000 Americans out of work; 354,000 of them had been jobless for 15 weeks or more. Stated as percentages, these figures are smalt, 3.3 per cent of the labor force. In human terms, however, the numbers are lamentably high. At the same time that so many people were out of work, the help-wanted advertising index, compiled from classified ads in 52 newspapers by the Na tional Industrial Conference Board, reached an all-time high. In other words, while millions of Americans were seeking work, thousands of companies were running thousands of ads looking for thousands of workers. And, it might be assumed, they were not finding them. There are some obvious reasons for this. Among them: geographical differences, insufficient training, age, health, sex and—it cannot be ignored—race. These factors helped prevent the matching of want and need. But another factor, the lack of comprehensive information on job availability, may also be involved. For some reason the United States has never tackled its studies of job vacancies nearly as vigorously as it studies unemployment. An amazing amount of statistics is available on the latter, relatively little on the former. It was once put this way by Arthur F. Bums, then head of the National Bureau of Economic Research and newly installed in the powerful position of counselor to President Nixon: NAMED BY NIXON to serve as aldei were Frank 1 head the U ' S - I»'orm.S» Koontz, to b« director of the ° f le Labor Apartment. Mn. Koontz lB h '« "It is not- enough to have information on the supply side of the labor market. We also need reasonably good data on the demand for labor. We need to know what employment opportunities exist for those able, willing and seeking to work." The country needs to have this information, Burns said, "month by month, on an overall basis, and also for local areas and individual occupations." Burns remarks were included in a study of job vacancies published three years ago by the National Bureau of Economic Research. But it was only this month that the Labor Department decided that such studies should be made available to both government and industry. Baytown Student Gets Education Degree From UH Hubert E. Kousli Jr., son of Mr. and Mrs. Koberl E. Roush Sr. ol 7 High Street, has received a doctor of education degree irom the University of Houston. The mid-semester degrees were conferred without formal ceremony. Dr. Housh is'a 1UWJ graduate of Hubert E. Lee High School. He received the associate of arts degree Irom Lee College in 1962, a bachelor ol science degree Irom Sam Houston Stale College in 1UW. and a master of education degree from Sam Houston in 1%6. Al ter leaching two years in the Clear Creek school dislrict, he was accepted as a graduate lei low in ihe University of Houston College of Education's department of administration ;nid supervision. L)r. Housh is serving as current director of ihe University of Houston's Teacher Corps program. His wile is the former Carole Ann King, an English teacher in Clear Creek. Her parents are Air. and Mrs. Keith King of 2006 Olive. TOO TRUSTING NEW DELHI (AP) — The three school girls were playing outside their school when the kindly looking young man approached them with a look of horror on his face. Didn't they know there were bad characters and thieves all over? They should at once take off their gold ear rings. He offered to help them put them all in paper bags. When.the girls reached home, they found the paper bags were empty. DURING THIS FACTORY AUTHORIZED ANNUAL SALE Ageless Mediterranean styling of model 7006 will add an elegant touch of enchantment to your room with its romantic old-world Spanish motif. And every superb feature at right assures you of the most pleasureful and colorful viewing ever I Also available in beautiful decorative Fiesta Green color, also save S60—NOW $655. Gliding Tambour Doors—on all models shown—conceal the huge 295 sq. in. screen when not in use—to further add to the magnificence of their fine furniture cabinetry I All models illustrated are also available with Revolutionary new 82- Channel Instant Automatic Remote Control . . . with more functions and more conveniences than any other remote unit today I VHF/UHF channel operation; Signal-Seeking Channel Selection selects only "on the air" channels; never needs "programming"—not even if you move to another city. If you should fall asleep, it automatically turns your set off after station leaves the air. Separate, continuously variable Color Intensity as well as Color Tint Controls. Also lets you adjust volume . . and turn TV on/off. All these conveniences are yours to enjoy when you own today's most advanced Color TV—a Magnavox. Also save $60 on each—NOW $738.50 SAVE *60 on each of these magnificent fine furniture consoles with today's biggest color pictures! INSTANTLY fine-tunes itself AUTOMATICALLY! Magnavox Instant Automatic Color always brings you PERFECT 295 sq. in. pictures—that stay precise on every channel, every time! No other Color TV today offers you so many significant advantages: Brilliant Color for more natural pictures • Chromatone gives far more vivid color; warmer black and white • Quick-On pictures flash-to-life four times faster; no annoying "warm-up" delay • World-famous Magnavox high fidelity sound from four speakers lets you experience unequaled program realism • and you will not only have the lasting satisfaction of knowing you own the finest, most reliable Color TV made • but you will also know that your home is enhanced by truly beautiful furniture. Come in today and select from many Annual Sale models in the widest variety of authentic styles to add elegance and charm to any setting. YOUR CHOICE NOW... »638 SI B A. Graceful French Provincial- model 7008, embodies all the charm and elegance so characteristic of this period. Also in beautiful Antique Ivory shown-NOW $655. B. 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