Alton Evening Telegraph from Alton, Illinois on July 18, 1963 · Page 10
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Alton Evening Telegraph from Alton, Illinois · Page 10

Alton, Illinois
Issue Date:
Thursday, July 18, 1963
Page 10
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*,ff,' .Kennedy Asks Tax On Foreign Stocks ft.t MtANK WASHINGTON (AP)-President Kennedy, hi a surprise move, • ftfiked Congress today to tax Americans on most purchases of foreign stocks and bonds. The aim IS to help stem the outflow of gold and dollars. Kennedy's recommendation was certain to have an immediate impact on international financial markets because it would affect American Investments currently approaching the rate of $2 billion a year. Hie unprecedented proposal, put forth In a special message to Congress on the worrisome U.S. balance of payments problem, represented the boldest and most controversial attempt yet made by any administration to deal with the payments dilemma. Special Tax To discourage the mounting flow of American savings abroad, Kennedy called for a special excise tax ranging from 2<i per cent to 15 per cent on the purchase price of securities issued by governments and businesses in 22 industrialized countries. The tax would go into effect Friday and remain on the books until Dec. 31, 19G5. Admittedly this would be strong medicine. But Kennedy said it would "help prevent pressures for more restrictive measures." A second highlight of Kennedy's 5-500-word message was an announcement that—for the first time—the United States will exercise its right to draw money from the Fund. Starting International Monetary Monday, the United States will begin drawing up to 5500 million in foreign currencies from the IMF. These currencies will be used by the U.S. Treasury to buy foreign-held dollars that Otherwise might be used to purchase American gold. Would trim Deficit Kennedy predicted that enact fflent of the excise tax plus other less dramatic moves under way or planned would trim nearly $2 billion from the U.S. balance of payments deficit during the next 18 months. In 1962 the deficit—the difference between the amount of mon ey leaving the country and the lesser amount coming in—totalec $2.2 billion. However, the deficit has been mounting this year and, in the April-June quarter, an annual rate of well over $J billion. Continued deficits in Intel-nation, al financial dealings mean thai foreigners are piling up surplus dollars which they cnn use to buy American gold—the key to the strength of the dollar. In recent years, the U.S. gold stock has dropped from $22 billion to under $15.7 billion. Neiv Charges In Harrisburg Kidnapping HARRISBURG, 111. ditional charges were filed today against a hitchhiker accused of STAFF APPOINTMENT Appointed by journalism council at Southern Illinois University's Edwirdsville Campus to the yearbook (Muse) staff for 1964 are Sally Thompson (right), of 807 Hinman St., Evanston. editor; and Judy Lee Harris of Glen Carbon, named associate editor. Miss Harris is a 1963 graduate of Kdwards- ville High School. Both girls are enrolled at SIU's Alton Center. (SIU Photo) abducting a Carbondale housewife and two of her sons July 9. Saleln County officials said George Bruszwski, 26, of Jamaica, N. Y., was charged with carrying a concealed weapon, and with damaging property. They said the counts stem from Bruszwski's efforts to break into a dwelling and to hide a pistol when he was apprehendeti. He is being held in Jackson County Jail, Murphysboro, in lieu of $30,000 bond on kidnapping and armed robbery charges. Officials said he leaped into the — Ad- (:ar ° r Mrs - A!cta J< Soprano, 29, and forced her at gunpoint to drive <!0 miles from Carbondale to Harrisburg. She and her two sons An average of 24 letters per minute can be sorted by hand in the Post Office as compared with more than 50 when a mechanical orter is used. World News Political Raid Reported By Hassan's Regime By TUB ASvSOCiAttel) CASABLANCA, Morocco (AP) —The government of King Hassan II reportedly raided a meeting of an opposition political party Wednesday and arrested 100 persons, including 20 members of Parliament. Officials refused to comment. LONDON (AP) - Britain and and Soviet Union have agreed to exchange more television and radio programs and to interchange camera learns. The arrangement was announced today after nearly two weeks of talks in London. ATHENS, Greece (API — Caretaker Premier Panayotts Pipinelis proposed Wednesday night that national elections for a new Parliament be held Oct. 2(1 or Oct. 27. Parliament will debate the proposal next week and then fix a date. ISTANBUL, Turkey (AP) Three Iraqi jets and a bomber attacked a Turkish border outpost near Hakkari Wednesday night with rockets and machine guns, press reports said. Turkish officials said the jets presumably mistook the outpost for a hideout of rebellious Kurds. Beckwitk Treated by Psychiatrist, JACKSON, Miss. (AP)^A psychiatrist testified today he rmrj treated Byrort de La Beckwlth charged with murdering fc Negro civil rights leader from ambush. Dr. Roland Toms, a University of Mississippi medical school psy chiatrist, said Beckwlth was referred to him by a physician las year. "I arrived at a diagnostic con elusion," said Dr. Toms. Defense attorney Hardy Lol of Greenwood objected to dis closure of the psychiatrist's dlag nosis. HP was upheld by Judge Leon Hendrick. Testimony was al a circuit cour hearing on a slate motion to com mit Beckwith to Whttlield Stat Hospital for a menial examina tion. Beckwitli, No Blame On American With Wheat WASHINGTON (Aft^-The State Jepnftment said today no Amerl can official was to blftme for the mysterious, disappearance of million bushels of feed grata sen to Austria In a barter deal, 'tflvestfeAHon clearly stows no AmeMcnn official was In any way involved in the diversion of thesu grains," Robert McCloskey, a Stale Department spokesman, told The Associated Press. State freparthietit officials made their comment today in the wake of a report, to Const-ess by Sefl ,tohn J. Williams, R-oe!., about the missing 24 million bushels o grain. Officials said this is an old story and has been under Investigation since lost Attfictytf. the , ltpsflg*H«» is not yt?t concluded,' official!! here rtro satisfied Hint the feed grain which did no1 reiich Austria tons sold lii Western EUtope atod ftono wont behind the iron Curtftln. FBI agents 42, was arrested by at Greenwood. They had traced to him the ownership of a Japanese-made telescopic sight on a rifle used to kill Evers. CAST IRON ORNAMENTAL IRON CURLY OAK PATTERN Ornamental cast iron is a longer lasting, decorative appointment to all homes that is sure to enhance the beauty of any home. Call or Write lor Complete Information EAST ALTON ORNAMENTAL IRON *rZr, ^.irr™ Ph fit. 4-K431 OPEN DAILl 170 E. ST. LOUIS AVIC. were released unharmed. Millions of eels swim along the Gulf Stream from their birthplace southwest of Bermuda to North America and Europe. America's railroads have a portside "navy" of car floats, lighters, scows, tugboats and ferries which total some 1,300 vessels. Famous Name Appliances LowPriced iedermansSaleForTheHome MISSES' SHORT SETS, SHORTS AND SURFERS for any combination, while they last! • cotton short sets with print tops, solid color shorts • shorts and surfers in easy-care wash-and-wear combed cottons Giant-Size Two-Door Automatic Defrost Norge Refrigerator Biedermans Price ...... $225 LESS TRADE-IN ...... $ 40 SUMMER DRESS CLEARANCE MISSES . JUNIORS • HALF-SIZES . cottons „)„ ,, yo n. . WMh . w ,., labnc. Regularly 5,89 to 7.89 OPfN fVfRV N/GHT 7/( 9; for your shopping comfort, HERE'S WHY YOU SAVI AT ROBERT HAU • We lell for caih onlyl • Th«r« art no credit charged • We have no credit loitoil » You «PVf becovie we lavel 2821 Godfrey Road (Route 67) Just North of Delmar Ave, at the New Beltline Highway YOU PAY ONLY Terms As Low As $11 Month There's no messy defrosting ever in this Norge refrigerator! Frost never forms! It's a 11.7 Cu. Ft, combination refrigerator-freezer at this unheard-of low price! The separate freezer hold 94 Ibs and 5 has a separate door with storage space! the refrigerator section has special "Food-Freshener" plate! -Butter keeper! Porcelain crisper to keep your vegetables garden fresh! Exterior in flush-fit designing! Norge Washer Triple Action Agitator gets clothes cleaner! Turns and tumbles each and every garment! 8- position adjustable wringer! $ 57 45 Hardwick Gas Range With Trade As Low as $& Month Big electric clock buzzes at time you set! Full 36" size with Equa Flo oven... no hot or cold spots! All • porcelain slide-out broiler! Storage space galore! With Trade '87 As Low us $8 Month Huge 15 On. Ft Norge Chest Freezer N Hold* $23 Ibs. frozen { foodl New slim design! * 5-Year Food Protection | Warranty against food spoilage! Sale Priced! OPEN EVERY NIGHT 200 MILES FREE DELIVERY BROADWAY and PIASA * ALTON, ILLINOIS

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