Alton Evening Telegraph from Alton, Illinois on January 4, 1971 · Page 3
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Alton Evening Telegraph from Alton, Illinois · Page 3

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Location:
Alton, Illinois
Issue Date:
Monday, January 4, 1971
Page:
Page 3
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Conserves natural resources Alton Evminc: Telocrrnph Monday, Jan. 4, 1971 A-& Waste on the ws Vi'wl F ancis, assistant vice president, ol Hyinan- njicliaels C!o. ol' Alton, stands before a huge pile of disrarded metal (hat will be turned back into useful metal. The use of scrap helps preserve natural resources. ret A proposed bill to sharply reduce the tax burden o'f elderly citizens living on retirement income may not be necessary because of pending litigation in the Illinois courts. Slate Hep. Lclancl Kennedy 'Thrust-Back Collar' TOILET TANK BALL America's Largest Seller The efficient Water Master instantly stopl the flow of water after each flushing. 75C AT HARDWARE STORES said today. The bill which was pre-filcd by State Senator - elect Sam Vadalabene of Edwardsville last week, seeks to exempt from taxation income contributed by a person to pension and provident, funds prior to July 31, 1969. Kennedy supports the measure. II o w ever, the Alton Democrat told the Telegraph that the bill may be unnecessary because of a pending court case which challenges portions of the Illinois Income Tax Act. Even if the Vadalabene bill passes. Kennedy predicted, it too will be immediately challenged in the courts. Currently, all income the interest from pensions and provident funds are taxed even though much of the fund Reclaimed scrap boost to economy By I,. AM.FN K|,on: Telegraph Staff Writer Mounds of rust e d automobiles, slacks of junked refrigerators, and piles of twisted wire are niuhlmare* to the ecologist. but to the scrap dealer, they are a boon to the economy, and help to conserve natural resources. The Geologist and the scrap dealer are no) on opposite sides, but rather are strixing for the same end result — the cleaning up of junk from the American countryside. The eeologisl has had his say aboui keeping plastic and aluminum bottles and cans off the highways and Irem picnic areas, and the hiding of scrap yards, so there is no "visual pollution." Rut the scrap dealer, too. has a slake in the beautification of America, and in helping keep the economy from .slipping. Explaining scrap is reclaimed and reused is Fred Francis, assistant vice president of Ilyman-Miehaeis Co., which has a yard on Chessen Kane in Alton. that, is drawn on to p;ty the pension already existed before the state income tax became law. Under the provisions of the V a d a 1 a b e n e bill, itieomc contributed by a person to any such program prior to July 31, 196!) would be tax exempt. Kennedy said he was informed by David B. Sarver of the Illinois Department of Revenue Nov. 30 that n case filed in Cook County Circuit Court could achieve the same results. The case was filed last year by five plaintiffs including pensioners of the Sears, Roebuck & Co. profit-sharing plan. Oral arguments were heard last, summer and a circuit court decision is imminent. "Whichever side wins, it is certain that there will be an appeal to the Illinois Supreme Court," Sarver told Kennedy. The basis for the suit is a challenge to the income tax law in regards to pension and provident funds as unconstitutional. Krati'-is s;M(i s( rap meial is p !i r r h 'i s •• d Ir, p'o. i^sjiv^ firms. sinh us llvman- Midi ;is ;'ii(l Strrn \ in:, 1 sr/es. •'•< ;UK! r;nl at (' ol Hit 1 lion- it is and sri;i|i 'I'vliTs ArM in Mast .'-linn in Alton.' 'I'lio scrap is hanlod in to the iirrparalioii processing i'irni s c L; r e i; a t r d a' c.irdin.u In \vci«!it and SPT. and Ihm is rut into siHvil'ird si"", that ran he easily handled by the ultimate eonsinver. such as I.aclede Sleel Co.. Knmvis .said. The prepared si-rap is (hen shipped by rail to the ultimate consumer, wliidi can he stool mills. I'oiiiHii'ies. ami nonferrous metal smellers. 1'esides pivpm'iiii; the scrap thai is hauled in. sr>';ip processors. Francis said, dismantle r e fineries, railroads, and oven ships, and then prepare it for the consumer. Even though the job isn't glamorous and is often dirty, the scrap pron'ssim; business plays a vital role in (lie economy of the I'nitetl States, as it is a member of the business community, provides jobs, pays taxes and is Uie purchaser of ;j;oods and services from oilier firms. Francis said the scrap processor has the ability to t a k e materials usually regarded as waste, and then produce from it a raw material necessary in Ihe production of new iron, steel, copper, brass and others. I s I n L r sci ;ii) ci'!iS(M'\ cs in e p 1 a c a I) 1 c material r c s n 11 r c o s Francis said, proving up his pninl by sa\ HIL; that one ton of <cran equals one and a halt Inns of iron ore. one ton ol cuke and one- half ton of limestone hi Ihe inodiiction of uevi iron and steel. Fsiim an a-, crave of at! grades, a ton 01 .scrap is worth about *:!(). while one and a half Ions of iron ore is worth about $11. a Ion of coke about s)!l. and a half-ton of limestone aboui si!). Therefore, he said, it costs Meanwhile, support for Vadalabene's bill has been steam-rolling. Jerome Juda, a Shell refinery employe, has obtained signatures' of 25,000 persons protesting taxation of funds paid to retirees. Both organized labor and Shell management support the measure. A year ago, a similar bill introduced by Vadalabene carried a house committee, 21, but never got out of committee in the Senate. AMERICA'S LARGEST FAMILY CLOTHING CHAIN about sw in i ;t\\ materials for a ton of iron and steel. \vluio it is aboui s:'! 1 for a ton of scran m'lal. As an idea of iiie iinnacl that scrap pro.-i .->nr. v inr.ko on (tie econonr . Kr.'inris said thai in IW'l dollar viirs of scrap iron and si.'el \vrrc s.:! 1 billion. |)oto( .-.Mr and export volume in i'.ll.'l was '.).'''. million tons. l-'rancis said that moving m a free- market, scrap is governed by the law of supply and demand, willi pricin;' depiMiding largely on Hie needs of the steel mills. Mo\ ing from Ihc maunitiifk 1 o f Ihe scrap business nationally. Francis cenlerod n-Alichacls' saying \'1;icr, lias five offices and is ba<ed in Chicago, has served Ihe All on-Wood IJiuT area l'ir :'() U;.TS. l.ocalh. the firm employs (i"i persons, and opi i ales a fleet of locomotive cranes, a hvdraiilie baler, ami one of the largrst hydraulic shears in the country. The shear can apply more than I.IOd ions of pressure to- cut various types of heavy scrap. Francis said the company has an investment: of more than W' 2 million in its plant, which is located on a 15-acre trad. serviced by two railroads. SHOP THE STORES WHERE YOy RATE MORE SHOP YOUR NEIGHBORHOOD IT PAYS TO GET THE TOM-BOY HABIT! CHECK OUR Alton Plaza—Wilshire Village—Monticcllo Plaza STORE-WIDE CLEARANCE! 20% To LADIES' COATS—JACKETS—DRESSES SLACKS—SKIRTS—SCOOTERS—BLOUSES BRAS and GIRDLES MEN'S JACKETS—SWEATERS—SPORT SHIRTS BOYS' JACKETS—SWEATERS—SPORT SHIRTS GIRLS DRESSES—COATS—JACKETS—SWEATERS SKIRTS—PANT SETS CAUTIOUS SI'OHTSWUAU I'Oll HOYS AND <;im,s TIUL: STOCK 20 TO 40'. orr UIIITK SALK SAVI; ON SIIUIiTS & PILLOW CASKS Open Monday Night 'Til 9 REMNANTS ALL SIZES UP TO 12' x 30' - IN THIS 's HERE'S PROOF YOU GET MORE FOR YOUR MONEY AT ALTON SAVINGS! YOU GET EXACTLY WHAT YOU WANT MOST WHEN YOU REDEEM YOUR "JUST LIKE CASH" EAGLE STAMPS AT ANY OF THE HUNDREDS OF PARTICIPATING STORES IN THE AREA. PICK UP YOUR BONUS EAGLE STAMPS . . . AND ENJOY OUR CONTINUOUS COMPOUNDING, WHICH MAKES YOUR MONEY GROW FASTER! 's ling TOTAL DAILY DEPOSITS PER CUSTOMER MAXIMUM DAILY EAGLE STAMPS i i • lifi $1,000 to $4,999 . . . 2,( $5,900 or More . . . 4,( MORE THAN EVER, IT PAYS TO SAVE AT ALTON SAVINGS TO PUT YOUR MONEY WHERE THE GROWING'S GREAT! 1970 CLOSEOUT! PLEASE BRING YOUR APPROXIMATE ROOM MEASUREMENTS m BUY YOUK CARI'KT ROLLS! REMNANTS! RICE OUK <;KKATKST CLEARANCE SALE! NOW l{e«>ardless ol \V!M'II you m^ed il! WK'KK No. Duublo I'.u;!'.- Suimps on Tuusclays Will Hu DlsiMiiilinui-U Until Jun. 10, l«'l avitta& AND LOAN ASSOCIATION 62O EAST THIRD STREET»ALTON, ILLIfSOIS.PHONE 465-4483 AND DRAPERIES 1826 VAUGHN RD,, ACROSS FROM SAV-MART WOOD RIVER DIAL 254-0686 in '71 H-II iMon.-UVd. l'ii. I» a.in. to 8:30 p.m. iirt>..TIiur!v » to r> — Silt. !» to t p.m.

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