New Grain Marketing Service to Start July 1, Lounsberry Announces A new grain market reporting service was announced Wednesday by Iowa Secretary of Agriculture Robert H. Lounsberry. "Beginning July I, our marketing division will offer daily reporting of cash grain (corn and soybean) bids by selected country elevators throughout the state," Lounsberry said. "This is a cooperative program between the Iowa Department of Agriculture and the U.S.D.A. and is the first time we have offered this service. Until now, Iowa grain market reporting has been sketchy and localized. Iowa corn and soybean producers, who marketed over $1.25 billion in grain last year, have been left largely to their own devices in searching out the top market. Our new marketing service will alert producers nation-wide to the varying market prices in six marketing districts of Iowa," Lounsberry said. "Grain marketing is becoming more complex," Secretary Lounsberry explained. "Price supports and the resulting surpluses kept farm prices for corn and soybeans from fluctuating much for many years. Neighborhood elevators used to offer similar prices so the choice of elevator was more a matter of preference than of dollars. Now, elevators within a few miles of another offer substantially differing prices. This is principally because of the transportation situation. One elvator may be on a main line railroad which has access to Gulf powers over it's own tracks and uses the unit train concept; another may be on a main line with uncertain service; still another category is located where trackage has been abandoned — they must truck to another elevator; eastern Iowa sales are affected by large rates which provides the farmer in that area a price advantage. "Prices to farmers can and do vary greatly (20 cents per bu. for corn) between" these purchase points and of course this variation had an important effect on farm Times Herald, Carroll, la. Q Wednesday, June 26, 1974 O income. Expanding foreign sales based on increasing demand for higher protein diets have given corn and soybean producers another option in use of their crops, and another reason to be alert to market trends and current prices, "he stated. Gail Danilson, director of the marketing division, said this is how the new service will work : "The state is divided into six Upbeat Forecast of Future Given by GM ByJOHNCUNNIFF AP Business Analyst NEW YORK (AP) General Motors executives invited 150 stock market analysts to their marble-walled company cafe- teria on Fifth Avenue this week and presented an unusually upbeat forecast of things to come. The company's various problems are now solved or close to being solved, Oscar Lundin, the executive vice president of finance, assured the analysts. Fuel economy, emission problems, safety, deal profits, car size. This isn't the same type of report a company gives to the government or to buyers when it announces a price increase, as GM has several times in the past few months. But it's what GM likes the analysts to hear. It's understandable. With charts and graphs and meticulously practiced answers to questions, the executives sought to assure these people, whose opinions influence many investment decisions, that GM was seizing one opportunity after another. GAMBLES INVENTORY Prices Good Thurs., Friday and Saturday 523 N. Main (G-Srore) 3'x 5' FLAG KIT Limited EA. REG. Up To $5.95 SUN GLASSES Foster Grant Clip-ons 99 REG. $2.49 KOTEX TAMPONS 29 < Box of 10 our 41 c size. SUDDEN ACTION BREATH SPRAY Spearmint Pep'p'ermin, ^ 19 SOLID OAK PORCH SWING $ 24 95 REG. $29.95 ' 5' clear finished oak Chains, hooks included 5B-93UO SAVE TO 66% ON BIKE ACCESSORIES A. 36" LOCK AND CHAIN B. 6ATTERY POWERED HORN 24-202U C. BICYCLE ODOMETER 24-23!)? :i D. STRAP-ON ARM LIGHT REG. $1.95 REG. $1.49 REG. $2.95 REG. $2.19 Used LAWN MOWERS 1 Electric Mower $24.00 Used CHEST FREEZER $ 49 Used Window AIR CONDITIONERS Call 792-4361 Used RIDER MOWER $ 99 New Motor 27" 10 SPEED BIKE $ 69 Reg. $89.95 Set Up Free For This Sale Only YARD VACUUM 2V4 H.P. S 49 Reg. $169.95 1 -New 1 —Demonstrator Save work. Rake with your lawnmower. RAKE-OMATIC Converts your rofiiry lawnmowor to a power nika. Simply retiiovo yout mower blade, lepfuc.c wilh precision balanced RAKE-Q-MATIC. •REMOVES nun f.n«<;s im ,ou. qr«m 'twaihr •MUICMIS JIAVfS HmjojiM buirung • ENDS COSTU RfWfllS RAKf OMAIIC c«f. Itu lh»n iytnyt I tiuui DOWCI ral( itnlat REG. $3.49 99< 7-OZ. OR 14-OZ. GLASSES REG. TO 29< EACH EACH 5-INCH IND. PIEPAN • .Use for pies, puddings • Seamless aluminum 36 PC. PICNIC SET REG. 79c 4-PLAY BADMINTON SET 99 REG. $6.44 Racquets, 2 birdies Net. poles, stakes grain reporting services. Daily calls will be made to about 30 elevators in all sections of Iowa and prices will be gathered by phone each day after the Chicago Board of Trade closes. These will be consolidated into one range for corn and one for soybeans in each district. After the price range has been established for each area (not by individual elevators), this information will be made available to the public after 4 P.M. by Code-a-phone, teletype and tape," Danilson said. GM's share of the market was rising, to 43:6 per cent of all car sales, said Richard Terrell t also an executive vice president. The gasoline shortage is less critical, and besides, he said, GM was aware of the impending shortfall. It had, moreover, been prepared for the small-car demand, Terrell said. White letters flashed on a red background. "GM a ware of energy situation and trend toward smaller cars several years ago.'' Some analysts were surprised to hear and read this, remembering those big inventories of larger vehicles. Buyers will obtain 12 to 13 per cent more mileage per gallon on 1975 models, said Elliott Estes, another executive vice president. Customers will save at least $100 a year on fuel and lower maintenance, he promised. Fuel economy on rotary engines has been made comparable with piston engine performance, said Estes, even though there is work still to be done on reducing emissions. He promised a sporty subcompact rotary sometime in 1975. New techniques for reducing weight are being discovered, he said, now that engineers can look at their models in their entirety rather than responding in short lead time to regulatory demands. You would never guess the new cars weigh more. Thomas Murphy, the vice chairman, spoke about higher sales and lower costs. There are, he said, 10,000 fewer salaried workers at GM now than at the beginning of the year, when there were about 140,000 such employes. Murphy conceded that the big concern now was with rising material costs, which already have contributed to a $332 increase in GM car prices over a year ago. But there was little time for that; the world was still before GM, the world's large s t manufacturing enterprise. 30 SWIVELS AND SNAP SWIVELS 140 FISH HOOKS 2 TENITE LURES 6 RED AND WHITE SPOONS 12 STEEL AND NYLON LEADERS 15 TROUT SAVE 50% 7 POPPERS 12 PLASTIC FLOATS *~ > 6 CRAPPIE JIGS 3 SPINNING LURES FISHING VALUES YOUR CHOICE REG. $1 EACH PACKS Coronado ^Cf«lt«lw«hCar» THINWALL 20-CU. FT. CHEST FREEZK 229 95 Efficient foam insulation 2 lift-out storage baskets Energy-saving cold control Magnetic-seal lid gasket Handy defrost drain. White Free Delivery The marketing service will be headquartered in the Federal Building, Des Moines, and will use the Federal facilities in the livestock market news offices. Federal funds will not be available in the 1974-75 fiscal year, but the U.S.D.A. will provide office space and some equipment. The balance of the program will be funded by the Iowa Department of Agriculture. For fiscal '75-76 and following, U.S.D.A. funds will be requested and an expanded program planned. The 65th General Assembly, 1974 session appropriated $21,253 for the Agriculture Marketing Division to begin grain market reporting. Rich Robb, marketing specialist, will be in charge of organizing this new grain marketing service. Sleeps Two — Not exactly a luxury liner, this craft at least sleeps two comfortably. With a crew of four, one hanging below to provide ballast, these Harvard undergrads chart their course down the Charles River in Cambridge during the "Great Raft Race" held recently. Rafts of all shapes and sizes enter the annually-held event. Questions and Answers Question — Mr. R. N. writes, I'm 63 and getting reduced monthly social security benefits. I have a little money saved and have invested it in the stock market. If I make more than $2400 profit for 1974 on my investment, do I have to report it to social security and will it reduce my benefits? Answer — No. Only earned income from employment or self-employment affects your social security benefits. Profits you make on the stock market, or on any other investments, are not earned income and don't have to be reported to social security. Question — I'm a recent June bride and I'm wondering whether I need a new social security card showing my married name? Answer — Yes. Contact any social security office, and the people there will help you get a social security card showing your new name. Your social security number will remain the same for life, however. This advice is also true for anyone who failed to get their card changed after marrying. The iguana looks ferocious but is completely harmless to man. n vl : '*:<K«* . H^i li N?-^ *' ! ' , _, *i - l lO'5 <! *. *' * *r!r(*OttV—' ^'" * 'J*-""****" 'I '^ ,v ''4fe^«.^L^rv i-Ds*" 1 '* 1 3lt u A.TIfj2^32^-^^"^L^r^ US ^vtujfif^.- ->£^^-rrr^ /I !X!X% TfjO' As/2 This column of questions and answers on federal tax matters is provided by the local office of the U. S. Internal Revenue Service and is published as a public service to taxpayers. The column answers questions most frequently asked by taxpayers. Question ~>- 1 own my own construction business. I've hired my son to work for me this summer. Is it true that I don't have to pay. social security taxes on his wages? Answer — Yes. If you employ your son or daughter and he or she is under 21, you do not have to pay social security taxes on his or her wages. However, this exception does not apply if your business is a corporation or a partnership which contains a partner other than you or your wife. Question —I'm selling ihy home and have to pay "points" to the bank for it to arrange financing terms for the buyer. Are these "points" deductible by me as interest? Answer — No. Although "points" paid by a home buyer are usually deductible as interest, "points" paid by a seller, which basically are loan placement fees paid to the lender as a condition to arranging financing terms for the buyer, are not deductible as interest. However, these charges are a selling expense reducing the amount realized on the sale for purposes of computing yourgain. Question — I've taken a new job more than 50 miles away from where I presently live and work. Can I deduct my moving expenses? Answer — The first requirement you must satisfy to deduct moving expenses is that the distance between your new place of work and your old residence must be at least 50 miles farther than the distance from your old residence to your old place of work. For example, if it is 55 miles from your new place of work to your old residence and it is 7 miles from your old residence to your old place of work, you would not qualify for the deduction because the difference in distances is only 48 miles. Secondly, during, the 12-month period immediately after you arrive in the general area of your new place of work, you must work full-time for at least 39 weeks. It is not necessary that you work for one employer for the 39 weeks, nor that the weeks be consecutive. For additional information, see IRS Publication 521, "Tax Information on Moving Expenses " It's available free from your IRS off ice. Question — Is it possible for me to reduce the amount of tax withheld from my pay? ! Answer — Yes. This is done by filing a new W-4 Form with your employer, claiming all the exemptions to which you are entitled. In addition, you may qualify to claim the sjpt e c i a 1 w i t h h o 1d i n g allowance For details, see your employer or call your local IRS office. . Q — My son is 20, works, and attends night school. I understand that you can claim a fulltime student as a dependent regardless of how much income he has if you meet the other dependency tests. Does this rule apply to night school students? A — Generally, no. Your soh is not a full-time student if he attends school exclusively at night. However, one who attends night school is a full-time student if he is enrolled for the number of hours of classes that is considered full-time attendance in order to fulfill the requirements for a degree in the normal period of time at a similar day school. South Dakota Couples Visit John Mencks .AUBURN - Thursday afternoon visitors in the John Menck home were Mr., and Mrs. Glen Hocking of Wall, S.D., and Mr. and Mrs. Robert Reer of Northwood. Mr. and Mrs. Lloyd Reimers of Canton, S.D., were weekend guests. • M r. a n d Mrs. W a11 e r Oestreich visited Mr. and Mn. Walter Willert at Huxley. Mrs. Richard Eccler, sons; and Jodi and Mike Carson of Ogden were Monday guests in the home of Mr. and Mrs. C. M. Bean. The first recorded rowing regatta in Canada was held in Toronto Bay in 1848. ... '.
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