Northwest Arkansas Times from Fayetteville, Arkansas on August 20, 1952 · Page 5
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 5

Fayetteville, Arkansas
Issue Date:
Wednesday, August 20, 1952
Page 5
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NORTHWEST ARKANSAS TIMES, FayiH.vint, Arkanut, W.dn«vJay, Aufvrt JO, 1f$J Taxes On Corporations To Yield Less Than Estimates \\ Truman's New Prediction Is A Surprise Lawmakers Decline To Challenge The Drop-Back Possibility Washington - (ff) - Congressional money experts expressec surprise today at President Truman's estimate that direct taxes on corporations this fiscal year will yield three billion dollars less than he had figured in his budget 6e\'en months ago. However, among the few lawmakers available for comment on the revised budget estimates released last night, none challenged the possibility that the drop-back point has been reached. Hep. Daniel A. Heed of New York, ranking Republican on the tix - writing House Ways and Means Committee, said it had been evident to him for some time that retail business has been lag- F R E E C A T A L O G IUSINESSIS, FAIMI, RANCH!!, INCOME MOPHTY rent IALI THXOUOHOUT THt WIST Contains names. locations. trail. lease.- r t n t , price, etc. SPECIFY B U S I N E S S OB PEOPERiy AND LOCATION DESIRED, and we place your request In Special Service B u l l e t i n s e n t t o o w n e r s . N o o b l l g t t l o n Writ* for CatalOl No. Mt-A National Business Property txchinge 4101 W. 3rd St.. IB Angeles 5, Cilif. ging. He observed that such a con- I the work stoppage in the steel in- dition could hardly exist without)dustry." backlast on manufacturers. other se g men ts of the budget Rep. Herman P. Eberharter of Pennsylvania, a Ways and Means Democrat, called the decrease in the probable take from corporations "unexpected." He said his personal opinion had been that business tax receipts would have been somewhat higher than the January estimate of $27,800,000,000. The Budget Bureau's estimate of government income has run rather consistently lower than actual receipts in most recent years. Deficit Decreasing In his new look at the budget, Truman figured that not only receipts, but spending and the yearend deficit are coming down. For the fiscal year which ends next June 30, he lowered his estimate of receipts from 71 billion dollars to $68,700,000,000; of expenditures, from $85,400,000.000 to 79 billion dollars; and of the deficit, from 814,400,000,000 to $10,300,000,000. One exception to the downtrend was individual income taxes, which will bring in about 33% billion dollars, or half a billion more than the January estimate. Truman said his current estimate that corporation taxes will bring in $21800,000,000 instead of S27.800,000,000 was based on two factors: A lower estimate of cor- aoration profits for calendar years 1951 and 1952, and added experience with the provisions of the jxcess profits tax of 1950 and last 'all's tax increase hill. All but 100 million dollars of the estimated 56.400,000,000 decrease in expenditures was out of military funds, including .foreign were up or down a few hundred million dollars from the first-of- year estimates. Sees Tax Lesson Rep. Reed said he drew two main conclusions from' a preliminary examination of the president's figures: Bankers Hear Talk On Broiler Industry Financing G i r a f f e s can rrm-h fc.-ass a n d ! Leprosy !j far more prevalent In v/a;cr by a w k w a r d l y spreading i hot. damp cllm»t« than In dry t h e i r fnreleps. I areas. Financing of the broiler indus-*- try was discussed by two Spring- | dale men this morning in the third I day's program of the Arkansas | Bankers Seminar being held this ! week at the University. i 1. That--barring a third world I Jeff D. Brown, president of the i 'ar -- there must be "proper re- Jeff D. Brown Company and one ' of the pioneers of the broiler in- I dustry in this area, and J. T. Bain, executive vice president of the Ex-Secretary Of Actress Identified By Newspaper As Instigator Of Jelke Probe propei trcnchment 1o give the taxpayers necessary tax reductions." 2. That when tax rates arc set too higtf, they bring in less reve- First State Bank of Springdale, nue than they would if the levies were more moderate. Prairie Grove Mrs. Delford Eeiff entertained at breakfast, Saturday, in honor of Thomas Ray Cornwall, who celebrated his ] 4th birthday. Guests were Sue Ann Wilson of Hulbert, Okla., Larry Bell, Jimmy Reiff, and Nancy Cornwall. Mrs. D. N, McCormick and Mrs. H. A. Barnes'have returned from a visit with relatives in Colorado and California. Mr. and Mrs. Guy Manatrey are spending several weeks with relatives and friends in Iowa. Mr. and Mrs. "Wilfred Thompson and Charles Thompson have returned from Lawton, Okla., where they visited Mrs. Thompson's sister. Mrs. Richmond. .Mr. and Mrs!,' Dick Wallace and children, who spent their vacation with Mr. Wallace's parents, Mr. and Mrs. George Wallace, have returned to their home in Gains- ville, Texas. spoke to the bankers on the broiler industry from the viewpoint of the halcheryman, feed merchant and banker. The First State Bank was one of the first to finance the industry here. N e w Y o r k -tfPi- Comedienne t Martha Ray's former secretary j was identified in newspaper re-1 ports today as the j i l t e d girl | ^{1"$ friend who reportedly sent vice probers into cafe society t-iri-lei a f t e r Minot F. "Mickey" Jplko. Mh:s R.typ, v ho is rot i n v o l v e d iti the vice probe, s.'ud List May t h a t she invitecf Miss W a r d to remain overnight n.'tot t h r y nod n.'iyc's hur.h;i!id. nip hi r h i h i prcijirip'.or Nu-l: 1'onrto.--. .-.pcnl ,in i:\t i mng mil. I The f o i ' i i i f r spcrei.-u v's ro;t! : Siindra W l s n t i l i - , . but j,nr ood bread is a * J t l . j , ... !sory prostitution ns a c i t v - w A third speaker this m o r n i n g 1 · was George E Ward, New York, of the American Bankers Association. A panel discussion on audit and operating control was conducted TO Apple Growers We Will Start Buying Apples At Our Rogers Plant THURSDAY MORNING AUGUST 21 Speas Company ROGERS, ARKANSAS military assistance. Truman ex- ^ Mr *- John Adams and children plained that there have been not hav * returned after a vacation only certain reductions in appro- s P ent in Porlales, K M. Mrs. priations but "some slowing o f | A d a m s Wl11 tcach t h p fourth military production resulting from £ rade Mrs. George Hammondtree, who has sp*nt several weeks with her mother, Mrs. Maude Adams, left Tuesday for her home in Phoenix, ! Ariz. I Mr. and Mrs. Henry Magruder and Mrs. Gene Smythe and sons of Gentry were Sunday visitors of j Mrs. E. H. Cook. The Rev. and Mrs. Alf Eason and sons of Marion, were Sunday guests of Mr. and Mrs. J. H. Carnahan. Mr. Eason was pastor of the Methodist Church here for j several years. Mrs. L. A. Carman and Mrs. | Caswell Wilson and daughters, Coretta and Sue, returned Saturday from Neosho, Mo., where j they had attended the wedding of Miss Coralee Thompson to Kenneth Everson. Coretta and Sue, cousins of the bride, were candle lighters. Mr. and Mrs. Charles Latta attended a singing convention on Skylight Mountain Sunday, returning through Morrow where they visited Mr. and Mrs. Troy Read. Dr. and Mrs. Harrell Webster and daughter, Mary Elizabeth, left Tuesday morning for their hom in Monroe, La. They were accorr panied by Sgt. Mary Gumming who will visit them for a few day before returning .to the Arm Chemical Center, Md. Members of the Seeley famil met at the home of Mrs, Emm Seeley for dinner Sunday. Pres cnt were Mr. and Mrs. Nob! Hembree and son of Washington by Ed G. Lovett and Darr, both of Little Emmett L. Hock, and William L. Little of Hot Springs. The bankers scheduled a golf tournament this afternoon at the Country Club. Golf prizes will be awarded at a dinner at the Country Club tonight. Jelke, 22, heir of a m u l t i - m i l l i o n dollar margarine fortune, was ., , ,,, , charged last week with c o i n p u l - . llsps lhc nai!lc °' W ; i i l 1 ' A n u m b e r of pcr.s-in:; v rre nr~ \ crackdown on $5l0-B-nignt call-! n'Sical brforr- Jclke, w i l l . J f l k p . : I' a f u - r h i m in l l i r \ i r t - prohe. St. i vC'r:il women h ; i \ c U-rn hold a s : ir..leri:il witueb-.e. 1 :. N'ol a l l the ciiM'S a i e rclatr-il. girls reached its penk. New York City newspapers today said that Patricia Ward, HI. gave police the information that led to Jelke's arrest. The reporls said the pretty blonde is the mysterious "Miss X" who has been held in J10.000 bail as a material witness and testified this week good buy Jelliu i.s free in $50.000 bail. ke in:iy be Iho s:inn' t c - m p o i a lure as t h ? u ; t t o r jiioimtl it, but before it can mcit tht; ici j mu.: absorb heat. before a Grand Jury. Miss Ward was hospitalized May ,,, 21 after swallowing a q u a n t i t y of , T h c I?TM-"? '"[ "i-ikmR ! sleeping P ,!l, while staying oVcr- ; ? ^.^ ^,'^ ^. ^ fh .TM' i night at Miss Rave's Hampshire | l u ^ " ' " -; n . n r- «t j ,,,, T T ,, House suite. Police said the g i r l ' --^_ _ .*.. D. C., Mr. and Mrs. James Lutrell had w r i t t e n a note ~ " and children of Springdale, and Mr. and Mrs. Sherwood Seeley and daughter. Dr. and Mrs. Frank Blakemorc of Fort Smith spent Sunday with Mr. and Mrs. J. R. Blakemorc and Jane. Miss Pat Brewer was a dinner guest of the Blakemorcs. indicating she was despondent over a broken | romance. Jclke has blamed his arrest on "a disgruntled female who feeis she was jilted." He dirt not name her. Nor have police disclosed whether Miss Ward mentioned any man in her note. Cracked, Dry Skin Seethe--loflen--help heol and relieve Dory itch with Oil-rich* Resinol OINTMENT--'Conlaih. Lanolin Pbwer...and Mileage^ too! Phillip* tttGuolin. U fatal witH Hf-TSSTtERGYf The Hi-Tesl elements in Phillips 66 Gasoline htlp jou gel the nL* lro " nd Performance your car can deliver! Phillips K6 Gasoline firea fast and imoothly-proYldei eair starting and lively acceleration. And hecau,. Phillips SrfGaaoIlne » especially blended to burn tfficinlly, there'i IMS futl waste and crankcase dilution. Phillips 66 Gasoline is amtnlM to suit tht season, loo. No matter what your driving condition, may he-summer, winter, ·pnng or fall-you can be«tr«that Phillips 66 Gasoline is right for your car. Could you ask for more than that? Fill up at any station where you see the famous Phillips 66 Shield. "ftI OMclol booH.I of ft. * m ,,|,«n tot. boll CooOi.i Aiioclotlw, "How To Wolth rVMtboll " J»lpl you O.I mor. out ol Hit |I,*M. WMIM by II fonoui tooth.i. CoMolm I«5J ichirf- w«l. Avo.lohl. o»l r from your PMtlpi 66 Dtolw. G«t your frtt copy from him torfoyl Ynr kij H intltr « PAYLOAD 1195 extra pounds of It! -fo cuf your cosfs, increase your profits! GMC engineering brings you this great new Model 470 highway tractor that hauls up to 1,195 pounds more cargo than any other vehicle in the 45,000 gross weight class. Here are the reasons why. It will pa/ you to study them carefully. Sensational new engine. Model 470 is powered by CMC's new 145 h.p. valve-in-head "302" cnginc-thc most powerful gasoline engine for its weight in truck history. Maximum power-to-weight ratio. The "302" engine weighs as much as 500 pounds less thnn other engines of comparable power, due to new high efficiency design. Highest compression-7.2 to 1-excels any other standard gasoline truck engine, accelerates faster. Delivers full power at an easy-stroking 3,200 r.p.m. More ton-miles per g a l l o n - l e s s dead weight i* engine and chassis means more profit in every mile. Highest paylood capaeity-upwards of one-half ton greater than any other tractor of the same GC\V rating. Price--the biggest surprise of all. Compare the price you have to pay for this pace-setting GMC against the field. Nowhere else will so little buy so much in a 3- to -J'/i-ton tractor, H'liy not conic in and see for yourself?. WHITFIELD MOTOR CO. IS NORTH EAST ST. FAYETTEVILLE, ARK. " You'll do bettor MI a uttJ trvrt wilt, your GMC fcdW -

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