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Mason City Globe Gazette: Friday, December 18, 1959 - Page 1

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   Mason City Globe-Gazette (Newspaper) - December 18, 1959, Mason City, Iowa                                North Iowas Daily Newspaper Edited for GAZETTE The Newspaper That Makes AM North lowans Associated iod United Preu International Full LCIM WTM MASON CITY IOWA FRIDAY DECEMBER II 1959 a Copy of Two HOME EDITION 99 Uncle Sam checking dividends First concrete move to collect all thats due By RICHARD SPONG GlobeGazette Editorial Research Bureau WASHINGTON This is the time of year when corporations play Santa Claus cuttingin their stockholders for an extra slice of melon in the form of a special dividend when war ranted by the years earnings And with the dividend notices a good many of them at least come reminders that you mus list your dividends as income for federal tax purposes This year the Internal Reve nue Service is asking corpora tions and banks to mail 35 mil lion special reminders that in come taxes must be paid on dividends and interest This is the first concrete move in a broad campaign to collect taxes on as much as billion in divi dends and interest which is not reported on tax returns The government loses about million a year in revenue be cause many taxpayers dont re port income from these sources the IRS says THE DIVIDEND and interest program will involve an educa tional campaign and stiffer en forcement efforts Within a few years electronic equipment wil enable the IRS to match individ ual returns against dividend re ports of corporations and banks in the meantime individ ual returns will be checked in the usual ways but more care fully the past Tax experts have long been aware as Journal of Ac countancy recently pointed out stepped dow that if some taxpayers come to French soil be convinced that others are evading their fair share of the tax burden the upshot could be a breakdown of the whole sys tem of self assessed income The alternative of course would be a withholding t a x on dividends imposed at their source Congress has rejected p r o posals for a withholding tax on dividends for the past decade or so The Senate in passing the 1959 Tax Extension Act rejected by voice vote a dividendwith holdingtax amendment s u b mitted by Sen William Prox mire but the proposal is sure to come up again THE PRINCIPAL objection to taxing dividends at their source as the accountancy journal points out is that a withholding t a x on dividends and interest would involve tre mendous expense for corpora tions and savings of which the federal govern ment would pay 52 per cent in most This is because the outlays would reduce earn ings taxed at the 52 per cent rate Moreover handling re turns and refund claims would impose a large additional ex penditure upon the IRS Congress in the Internal Rev enue Code Act of 1954 permitted the taxpayer to exclude his first S50 of dividend income in re porting earnings for income tax purposes On joint returns hus band and wife the maximum exclusion is doubled to In addition a taxpayer can take credit against his actual tax bill amounting to 4 per cent of Few clues in Touhy slaying Slim clues many theories and an apparent dead end marked the early police investiga tion for motives in the shotgun slaying of Roger Touhy prohibitionera gang chief As police intensified their search for the killers of the 61 yearold exconvict there appeared many motives that migh have prompted the assassination There were not many clues Touhy was shot two men with 12 gauge shotgun only 23 days after he finished serving more than 25 years in Stateville Prison for kidnaping He was assassinated from ambush in typical ganglan fashion as he and a companion a retired policeman mounted the steps of Touhys home on the West Side The expoliceman Walter Mil ler 62 was seriously wounded but before he collapsed he fired at the fleeing gunmen He was in critical condition in a hos pital SOME INVESTIGATORS 1 AP Photofax A SUMMIT CONFERENCE Dont jump to con clusions now this isnt just another of those rou Holland an author who resembles Premier tine posed photos of world dignitaries Actually De Gaulle of France Albert Grazer banker wholl theyre four Southern Calif ornians who will portray the Big Four in the Tournament of Roses parade at Pasadena on New Years Day Left to right are be Khrushchev John Barr a contractor who has the role of Eisenhower and Bill Grav a disk jockey in the shoes of Harold Macmillan of Western summit meeting Big task ahead for Ike orized that the remnants of the old Al Capone gang may be re sponsible for Touhys murder They were certain he became a target for crime syndicate ven geance Veteran policemen who re called the days when the rival Touhy and Capone mobs en gaged in open gang war said the killers waited more than 25 years to prove that the crime syndicate never forgives an enemy ROBERT TIEKEN dis trict attorney blamed the Touhy slaying on the Mafia ENROUTE WITH EISEN HOWER WVFit and cheerful after his threeday Mediterran ean cruise President Eisenhow er landed in France Friday for a Western summit meeting that may need a An echoing 21gun salute greeted the heavy cruiser Des Moines as she brought the President into Toulon harbor and French sailors snapped to attention as the P r e s id e n t stepped down the gangway to rench soil Brightly decked small boats crisscrossed the Mediterranean1 larbor and the sailors of the French fleet lined the rails of iheir warshipsto render honors to the President A bright sun glistened off the spic and span vessels and a few fluffy clouds floated lazily over head A brisk wind whipped the ships pennants The tempera ture was about 55 degrees Trench Minister of State Louis Jacquinot welcomed the Presi dent to France onbehalf oi President Gaulle first came aid n Eisenhower said in re ply The underlying affection and respect of the two nations each for the other never TVi Just before Eisenhower told newsmen he was feeling fine and remarked Sleep oh boy thatswhat Ive done His voyage from Athens be ginningTuesday was broken only by a brief visit to Tunis Thursday THE PRESIDENTfALconvoy Mercury to climb again Colder weather moved int Iowa Friday dropping tempera IOJ9 CHEEK FUND GOAL Previously reported Koosevelt Junior High School tures into the 20s in all sections of the state But it should be warmer again Saturday Northerly winds kept readings down throughout the day con siderably below Thursdays highs which ranged from 40 de grees at Burlington to 49 at Council Bluffs Friday morning lows ranged from 19 at Mason City and Sioux City to 27 at Davenport Lows Friday night were expected to range from 12 to 22 degrees The Weather Bureau said tem peratures during the next five days will average 4 to 8 degrees Club A friend Roosevelt troop GlobeGazette engraving and bookkeeping A Mrs H E Chellbere GlobeGazette business office Hearthstone Club Ail old friend A friend Meservev Helping Hand So Unidentified friend Touhy definitely could normal No precipitation s i o n They against him sped out Mason Partly cloudy through Saturday Low Friday night 1923 Warmer Saturday high 4045 Iowa Partly cloudy through Sat urday Colder southeast not so cold extreme northwest Fri day night low upper teens east to lower 20s west Warmer Saturday highs 38 to 48 Out look for mostly fair and mild Fiveday towa Temperatures will average 4 to 8 degrees above normal Friday night through next Wed n e s d a y Warmer Saturday and Sun day with only minor dailv Warner obtains movie rights to Music Man1 HOLLYWOOD Brothers studio announced Thursday it has purchased for an undisclosed sum the motion picture rights to the hit Broad way musical The Music The musical is now in its third year in New York It was written by Meredith Willson and starred Robert Preston Eddie Albert soon will re place Preston as the leading man on the New York stage Adm Wright will retire next year NORFOLK Navy Thursday announced the retirement of Adm Jeraulc Wright commander of the vas his dividend income over or SlOO in a joint AN ATTEMPT to knock out the 4 per cent credit was made by the Senate in thisyears ses sion Ah amendment to that ef feet offered by Sen Eugene J McCarthy DMinn was ap proved by a 4731 roll call vote but was eliminated in House Senate conference on the tax extension bill Several bills now pending be fore the taxwriting House Ways and Means Committee would out this credit But the odds seem to favor retention On the inside Editorials 4 North Iowa Features 7 Society News Clear Lake News 9 Latest Sports News H12 Comics 15 Mason City North Iowa News 20 TV Pullout Section temperature changes thereAtlantic fleets of the Unitec after Afternoon highs witlStates and the North Atlanti range from the upper 30s inTreaty Organization Atlanti the south to the lower 30s in i Fleet headquarters said Wright the north Overnight lows will61 would step down March i range from the lower 20s the south to the midteens in the north No precipitation isl indicated Minnesota Growing cloudy light snow in north and cen tral Slightly cooler highs Sat urday 2535 GlobeGazette weather data up to 8 Friday jrief ride through the city vhich the residents had insisted upon when they heard Eisen lower might take a helicopter nstead Crowds were banked the depth of the sidewalk all along his Touhy ever sti route and the President showed ly to his appreciation with a bigsmile and repeated waves of his hat as he stood in the car Cheers rippled along the streets A wave of handclapping and cheers from the crowd bade train pulled out fbrTariSat been shot in vengeance by sur viving members of the Capone said Virgil Peterson former FBI agent and now head of the Chicago Crime Commis had a Nobody rudge except touhy ever stood up successful s in sight my and Lon Shepherd BOND ISSUE OKD DENISON bond issue for a new elementary school and other improvements was approved by Denison voters to Thursday Queen Rcbekah Lodge No IC8 lislory Club nlernational Hod Carriers Building and Common Labor ers Union rom Mr and Mrs Leonard Olson Britt From a friend Chapter IY of the Sis terhood Unidentified friend Mr and Mrs 3Iickey Kauf man Susie Patty and Mike West State Street Club Jo Jerry G retohen and Ir and Mrs Raymond Reyn The days lolal Total to date in Maximum Minimum At 8 44 19 19 LT GAYLORD TREU Garner flier among three being sought Air Force officials Friday con tinned to hold out hope for the safety of three fliers including a Garner man who were in volved of jet planes over Northern Ontario Thurs day survivors have been picked up The Air Defens Command identified the surviv ors as Capt Roy N Minor Manchester and Lt Theodore C Adams Greenville S C OTHER LEADERS of the North Atlantic alliance awaiting Eisenhower in Paris looked to lim to do something about Pres ident de reaf firmed stand against putting French military under control of the NATO command But there was considerable doubt in Paris that even the presidents much vaunted powers of persuasion would make much headway with the strongwilled Frenchman France is the ninth nation the President is visiting on his 11 nation tour which has drawn enthusiastic support for his ieme of peace with freedom at veryxstop Six millions persons ave cheer him Now comes the work of the ummit meeting from Satur ay through Eisen hower De Prime Minister Harold Macmillan and Vest German Chancellor Kon ad Adenauer It was called pril marily to shape up their ap proach to the coming parlay vith Soviet Premier Nikita Khrushchev on issues ranging rom Berlin to nuclear disarma ment Erbe will probe salt aluminum pricefix DES aluminum at the same Gen Norman Erbe said Fri cents per pound price The day he will launch an investi board gave the contract to gaiion into alleged pricefix Aluminum Company of Amcr HE1DELBERG Germany Army charged Friday that the Czechoslovak vice consul at Salzburg Aus tria provided a Communist agent with the poison found in salt shakers at the cafete ria of Radio Free Europe in Munich The Army counterintelii gence investigation shows that Jaroslav Nemec a vice con sul at the Czech consulate in Salzburg Austria on Nov 16 gave a Communist agent salt shakers containing atropine for placement in the RFE cafeteria in an offi cial Army statement said The agent was told that the shakers contained a mild laxative the Army said Clinical analysis however proved that they contained atropine in sufficient quantity to cause serious iliness the degree of which would depend upon the age and physical condition of the individual and the amount of salt con Disclosure of the plot against the private Ameri can financed station which broadcasts anti Communist propaganda was made Wed nesday by its European di rector Erik Hazelhoff of Mount Kisco N Y He said he had notified and West German authorities after being tipped that the poison had been put in salt shakers at the stations cafe teria Nov 21 U S Army and West Ger man officials at first denied they knew anything about the plot But a spokesman later said the Army had been told about it olds Irs Jessie Smith Birminc hsm 10 still Giving days left essiVe SAME ing on state purchases of rock salt and aluminum Erbe made the decision in the wake of reports from the Iowa Highway Commission and the Iowa Board of Con trol that they have received identical bids recently on sev eral large purchase orders of the two items The Board of Control Thurs day let a contract for pur chasing pounds of aluminum for 1S6L Iowa li cense plates although all fiva bidders offered to supply the ica Davenport because it was an Iowa firm Earlier this month the Iowa Highway Commission report ed it had received a number of identical bids for supply ing rock salt to the commis sion for snow removal pur poses The U S Department of Justice has launched an in vestigationinto the rock salt bidding because it said the identical bid practice had been reported stales in a number of STILL MISSING is Lt Gay lord B Treu Garner Iowa Lt Lloyd Horn Boise Idaho and Lt Carleton Hunt Okla homa City Treu a fighter pilot is the son of Mr and Mrs Gerald Treu Garner former Clear Lake residents He is married to the former Marjorie Sutcliffe Clear Lake and has a son Den nis Michael 2 TREU WAS graduated from Coe College in 1954 and was elected to Phi Beta Kappa na ional scholastic honor fratern ity He received ROTC and In stitute of Radio Engineering awards He majored in mathe matics and physics and was commissioned as a 2nd lieuten ant in the Air Force Reserve He later trained at Panama City Fla Tha Treus live in a trailer court at Kincheloe Air Base Mich jump by CheerFund ERES a big thank you to the boys and girls and teachers of t h e Roosevelt Junior High School for a mighty showing in behalf of t h e Christmas Cheer Fund This school raised to help make Christmas happier for needy families in our community TWO OF THE home 207 and Roosevelt Ju nior High engaged in a contest to see which would raise most As result there vere can dy sales bake sales auctions and Special stunts to raise mon ey On occasion the students carried their own lunch and ave the money a lunch at school would have cost Following arc the contribu tions by home rooms S15 108 S12 109 111 112 113 114 116 201 207 211 212 214 215 216 218 219 222 224 225 226 OTHER GENEROUS donors were also in the days list in cluding the Business and Pro fessional Womens Club Addi tional contributions by Globe Gazette employes made their appearance with more to come A contribution from our col umnist C W Holbrook was listed previously as a long time friend A subscriber in Birmingham sent a con tribution along with her sub scription payment Mr and Mrs Leonard Olson of Brilt made a contribution in memory of their little daughter Idellys Ann Olsens birthday Dec 20 This is an annual gift made by the Olsens A friend sent a gift with the notation thaf it was to make some lit tle boy Keep the gifts coming or send them to the GlobeGa zette office Send them to CHRISTMAS CHEER FUND Care GlobeGazette Mason City IKE REACHES TOULON The hills above Toulon and a French tricolor aboard a greeting vessel frame the cruiser Des Moines as the warship AP Photofax carrying President Eisenhower reaches the French Mediterranean harbor Ike PESSIMIST FINDLAY Ohio Ida Deidrick 99yearsold and his party amved from Athens via observed I dont see Tunisia sense in living so any r i   

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