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Newspaper
Baytown Sun
Location
Baytown, Texas, United States of America
Date
Jul 12, 1963
Page
3
Paris reports the government plans to repay over 200 million dollars of foreign debt ahead of schedule, with most funds likely going to the United States. Information Minister Alain Peyrefitte announced the move after a weekly cabinet meeting, but no details were released.
Chicago and three Illinois cities face ongoing civil rights protests as demonstrations target housing, education, and city hiring. CORE and NAACP groups press for desegregation, with sit-ins at the Chicago School Board and picketing at City Hall in East St. Louis, Peoria, and Chicago. Local officials move to ban racial discrimination in city employment.
Gilmer Texas AP The L D can Petroleum Corp owns a two well lease in the East Texas field and the grand jury conspiracy to bribe trial nears its end. Staton Murphy testified as a defense witness about fake slant tests on the 2-A well and an envelope containing 1000 dollars. State witness Mathews testified about bribery charges and the commission's slant well history.
New depreciation rules and a company deduction cut taxable bills for corporations. The Commerce Department says about 2.3 billion in tax savings in 1962, helped by deductions of up to 7 percent for new equipment and faster writeoffs. Firms redirected savings into machinery, plants, and equipment, boosting orders and overall business activity.
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