Alton Evening Telegraph from Alton, Illinois on August 15, 1963 · Page 17
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Alton Evening Telegraph from Alton, Illinois · Page 17

Alton, Illinois
Issue Date:
Thursday, August 15, 1963
Page 17
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, AUGUST 15, ALK5N EVENING TELEGRAPH PABBSbVBN'fhtiH 1 '' Dividend in Committee fly \VASHtNp3fpN ' (At*) ~: Fresh from apjif-ovltig, individual and corporate ,«tax tails, the Mouse \Vnys fltid Means Committee plunges today, Into a stiff p&rty line battle over dividend taxalloti Tlie l&titiedy administration wants '&' fepeal the dividend tax credits Which Were Instituted during the ailsenhower admttilslra lion. ; ; •>'".; ,-' '• . The committee Wednesday gave Us npn.royal to the heart of President kennedy'g tax program to Icnve irt the hands of Indlvldua and cofporate taxpayers, rnorc Ihnn $10.5 billion now paid It tii.xcs. , ^ The ".administration counts 01 I ho cut to boost '"the economy' find eventually balance the Treasury books. ''• ./ . ••'•'•' , Reductions If the Individual tax cut program survives Hie fights ahoac in House and Senate and becomes law this year, some of the reductions would begin to show up in Increased take-home pay nftoi next Jan. 1. Bill three congressional lenders luive already raised doubts Jibou Ilio program's fulure. Son. Harry K. Byrcl, Vii'Kinit Democrat who heads the Scnalc Finance Committee, snid today he doubts that Congress will approvi lax reduction this year. .Similar views were expressed Wednesday by Senate Republican lender Everett: M. Dirksen of llli nois and House Republican leade Charles A. Hallcuk of Vncliana. Under the program approved b< tlie House group, withholding rates would be trimmed to fit new lux schedules that, typically might reduce a $<l,000-n-year fain ily man's lax bill by $100, e jio.OOO-a-yeur man's by $200 Exact amounts would vary will individual cases, but the Treasurj estimated a general 20 per cen cut— about 15% per cent in the brackets Including most taxpayers. The full effect of the reductions would not be felt until 1965, bu two-thirds would go into cffec next Jan. ,1. Income tax ; returns filed nex April, or earlier, would not reflec the new rates because the return cover 1963 Income. Picking up ' speed after it.' months of deliberation over th complex tax bill, the committee swiftly approved a corporate rat slash slightly more , generous ti small business than . t,he vPreasur had recomVnended.-., ...... . r Also approved was a new mi n imum standard deduction featur that sweetens tlie tax;,benefit fo low-income taxpayers'. Such taxpayers could gel > larger standard deduction thai the present 10 per cent, up I IP ,000 for husband and wife. Th now provision would allow $!!(X for the taxpayer plus $100 for cac" dependent, including his spous up to $1,000, Thus a small incpm and a big family could add up t more than the old 10 per cent al lowance. Some low-income singl taxpayers also would benefit. The Treasury estlmateo thai un dor the .new minimum standar deduction 1.5 million persons wh now pay taxes on low income would be taken entirely off Hi income tax roils and their saving would aggregate $310 million year. Corporate Tux The committee approved also two-step reduction' of the corpo rate income tax from the preser 52 per cent to 48 per cent an provided for a rearrangement o normal and surtax rates wllhl this rate so as to give a specia break to/small business. Effective next Jan. 1, the ta would drop to 50 per cent— 22 pp cent at normal rate applying tlie first $25,000 of corporate i come, and 28 per cent surtax. Th present normal tax is 30 per cen Prince Edward Free School Openin Bet t».v .ttoutiv FARMV1LLK,. Va. (APl-The adlocks will come off some of Vlnce Edward County's schools his fall for the first time in four ears. School buses, Idle since Ihe •cunty closed public schools In 059 rather than submit to court- rdercd desegregation, will roll gain. Throe public schools will be timed over lo a private group rganl/ed with federal and state Jacking to educate thn county's 700 school-age Negro children. Most of them haven't attended l » classes in four years. Gov. Alhcrtls S. Harrison Jr. an nouticcd formation of a Board, o Trustees Wednesday to organs a system of free private-^but, in .egrnted—schools for Prince Ed ward. It is doubtful that more than a handful of while pupil's wil enroll. White children have at tended private segregated schooti organized after the public school were closed. there had been rumors of th< school project for weeks, but ; similar proect had fallen throng Redistrieting Committee to Meet Tuesd ust last month, so Harrison's announcement was a surprise. Arrangements for tho new schools' Were Worked out in con- cnce's', among federal, state and county officials and Negro leaders. The meetings stemmed from Monday's ruling by the U.S. 4th Circuit Court of Appeals, which reversed ft federal district court order I hat public schools be re opened. The appeals court said federal courts should not act further In Ihe case until Virginia Supreme Court rules on Issues ol slate law. The decision had the effect of preventing reopening of public schools for the fall term. "TOKYO — diFhaJrTcpor'fcdly been discovered In Tibet, by Red Chinese drilling teams. City to Pay $5,996 For Sewers Tractor Alton will buy a backhoe-lractor from Henry Heyen & Son of Brighton, for $5,990. The City Council Wednesday night approved Ihe Heyen bid on recommendation of the council's Sewers and Water Works committee. The tractor is to be used In city sewer work. A total of 13 firms took out bid forms. Nine returned the forms with no bid find thn other four offered bids. The bidders were: Frank Lynn Inc., Alton, $6,8GO; Edwardsville Motor Service Inc. $3,995 with a 10 per cent discount for parts; Golike Sales, Belhallo, $6,432.40. It was noted that Hcyen's bid which offered "two per cent for cash" terms, which made it $1.19 ligher than Hie Edwardsville Mo tor Service hid, however, the com tnittee foil thai Heyon's 15 per cen feature for parts was a betlei deal than the 10 per cent discoun offered by the Edwardsville ccpiip- menl firm. LONDON—An English minis, tor has asked his flock to give up smoking and eating straw berries. Kenya Official Asks Integration of Clubs NAIROBI, Kenya (AP) - Kenya's new African government told exclusive European clubs today the time hat tsstne to doors to all fftcen. Home Affairs Minister Odlnga called for to "avoid afly more trtf>1elii^ft^ Incidents." His advice wa* preted as an ultimatum, VACATION OVER BETHALTO DONUT SHOP Now Open For Business Open 6 A.M. to 11 P.M. Phone DU 4-9502 i ••••••••••••••••••••••••••Mil••§ PENNEY'S ALWAYS FIRST QUALITY B#V £"'',: ;'*. 'l< rv r v ., ""f V&%?rt *4* f <fi*?» '* , t f f X, &A '/,; ", W/, W, W* '">• ay SPRINGHELD, 111. (AP)-Tcn members of n special bipurtisar commission will sit down it Ipringflold Tuesday in an initial lUeinpl to resolve Illinois horniest political problem—rcup- lortlonmunl of the House. Gov. Otto Kernnr, who named Ive Democrats and five Rcpub loans to the commission Wednes- lay, omitted such prominent lead, rs as former Republican Gov Villiiim G. Si rat ton and State lep. Paul Powell, D-Vlennu Kerner's seloel ions were made rom a list of 10 nominations sub- nilled by each of the parties' ale central committees. The commission will be made ip of four members from Chicago, four from downstale and two rom the Chicago suburban area. Represent! UK the Dcmoctats ire: George Dunne, Chicago, former llinois House majority leader, Tames Ronan, Chicugo, state committee chairman; Ivan El- iolt, Carmi, former attorney general; Daniel Pierce, Highland ?urk, state commiUqeman and fUvin G. Fields, East St. Louis Titiyoi 1 and a slate committeeman. Republican appointees are: Edward Jehison, Paris, newspaper publisher and former congressman; • David Hunter Jr., lockford, attorney; Eldon Martin, Wilmette, attorney; Fred G. urley, Chicago, retired steel company executive and presi dent of the United Republican fund of Illinois and Michael J Connelly, Chicago, ward commit- :eoman. Appointment of the commission vas necessitated by Werner's veto of a Republican-drawn .bill passed by the 1963 General 'Assembly Kerner said he struck down the •jill because il failed to reappor Jon the 59 House districts on a lulr population basis. The governor did not put any legislators on the commission. In iid'dilion to Powell, House minori- [;• leader last session, Kerner declined to appoint Rep. John Touhy of Chicago, Democratic minority whip, and Democratic Sen, Edward Eberspachcr of. Shelbyville Senate minority whip. The commission will be con fronted with the task of settling a dispute over how many districts Southern Illinois should lose whether Lake County should have two districts instead of one and how Chicago dislricls should be redrawn. Under the veloed bill, Chicago would lose two o£ its 23 districts lo the growing suburban area Southern Illinois would drop one district and Du Page County would huve two districts instead of one. Democrats in tlie legislature contended that Lake County lias sufficient population to wan-air' to dislricls. The Republican bil kept Lake County as a one-dis tricl county. Kerner gave Lake County a voice on the commission by appointing Pierce. Eacli House district elects three representatives FINAL SUMMER SALE REP C B OSS WOMEN'S 7.00 To 10.00 n nn * OO OllILDBEN'S NATIONAI-LY ' _ • BRANDED TENNIS .,%r M.99 POINTED T06 • TENNIS ARCH SPECIAL PRICE ON WORK SHOES PARK FREE We will auto your ticket nt VICK'I Hour. 114 WEST 3rd ST., ALT! ASK F •!*>!& }*: -'/// EASTGATE EAST ALTON CATALOG PH. 254-4311 pern ^ 5 it's so this |lections...this at penney's.. .this penney "stores"—this and bigger array of convenient way to IT of all . ALL-PENNEY CATALOG! y&'fl '•''/"& SHOP FROM YOUR EASY CHAIR ... ORDER BY PHONE! You'll be shopping the modern easy way when you shop our convenient new Catalog Center. . . . Just phone in your order! No parkins? problems 1 No baby-sitters! No weather worries! No time-consuming store-to-store hunt to find what, you'ftt looking for! With your own Penney Fall- Winter catalog, you'll have a complete, up- to-date "department store in a book" right' at your fingertips I DAILY TRUCK DELIVERY ... SERVES YOU FASTER, CHEAPER! Save on shipping charges! Fast daily truck delivery from our Milwaukee Distribution Center 1 direct to your Penney store costs far less than individual shipments to your home. You save by calling for your merchandise at your nearby Penney store...AND you'll have your merchandise in as little as 48 hours! '*: ^ •> i <HS**>V* - &>V>-** ,„ ?> .#&r „«*" > CATALOG CENTER V t •• v - ' TL*N ' ; ^JSII':'^ **-!-' —r ^ - , - ^ } * * - - - , n:rf' nt^B^WT^p^p^ MViUVV- ^ ^V^f^? N " f »'':^^t*?"\*^ : t/ ."•>"" ,-— ?'Xjj^ v ^^ \\ ' JUST CHARGE YOUR ORDER ... SATISFACTION GUARANTEED! First quality Penney merchandise, low Penney prices, fast and efficient Penney service... This is VALUE in anybody's book! Add to this our convenient credit plan which requires no money with your order! Add the assurance of a Penney money- back guarantee that lets you make adjustments, refunds, exchanges right here in the store! Weigh all the advantages... You'll surely shop the modern way—the Penney Catalog wayl K, i fv lifl!.;|ilMii^|^|iP|Sp||i W^S^PP^P™^ ^ 5?ii!RWji*SiiB|^?B:^PI?lfti™;ilPI^ Ilill!^ip|?ps|S|!^;™:;:|j™:;5|| : |5|:p|:^ [r£^nmlmg^*3mi.JulByj^MMi!^^ j^ ^H |ft^^ •'••"; CHARGE THESE VALUES AT YOUR EAST ALTON PENNEY'S Shop 10 am to 9 p,m, MONDAY through SATURDAY r _ N EASTGATE PLAZA SHOPPING CENTER \X. Intersection of U,S, Highway 67 and Niagara Avenue * v

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