Senate panel moves corporation tax up to 47 percent
The Senate Finance Committee voted to raise the corporate income tax from 45 to 47 percent under the excess profits bill. The measure, softened from the House version, could add about 150 million dollars in first year revenue, with annual estimates ranging from 2.9 to 3.4 billion. The panel kept the normal rate at 25 percent and raised the surtax to 22 percent, leaving the excess profits tax at 75 percent of the excess over 85 percent of a three year average. The bill is aimed at abnormal earnings since Korea and would be retroactive to last July 1.
MENTIONED IN THIS ARTICLE
Washington
Senate Finance Committee
House
Senate
Truman
Congress
George
Taft
Ohio
White House
Colin F. Stam
Embargo on Mail Deliveries Stopped
Rail workers ended a Friday strike that halted mail deliveries. Post office officials say two truckloads of outgoing Christmas packages would have been delayed had the embargo continued. Officials note one quarter of all incoming mail came from the embargoed sections.
MENTIONED IN THIS ARTICLE
Post Office
Pilots' Bodies Recovered After York County Crash
Air force rescue crews recovered the bodies of First Lieutenants Gustav Schonenberg and William M Walterman after their F-51 collided during a Langley Field training flight over Seaford Va. McKee piloted the third plane to Langley. Schonenberg and Walterman were both Texans with families in Riverside and Hampton respectively.
MENTIONED IN THIS ARTICLE
Newport News
Air Force
York County
William M Walterman
Gustav Schonenberg
Patrick Henry
Langley Field
Seaford
George McKee
Walterman
Schonenberg
New Ulm
Tex
Riverside
Freeman Drive
Pine Chapel Village
Elizabeth City County
Hampton
Helen Walterman
U. S. Premiums Seen At About Three Percent Of Income
The article notes that premiums paid for life insurance in the United States average about three percent of the national income, reflecting the financial impact of life coverage on households.
MENTIONED IN THIS ARTICLE
U. S
United States
107 Day Strike Ends at John Deere Plants
Federal mediator Francis Sheridan announced settlement of the 107 day strike by about 13 000 CIO UAW workers at seven Deere plants in Iowa and Illinois. Details were not immediately available. Deere had sought a five year contract with no strike clause while the union demanded higher wages and other benefits.
MENTIONED IN THIS ARTICLE
Moline
Francis Sheridan
John Deere and Company
CIO
United Automobile
Seven Deere
Iowa
Illinois
Ciouaw
Deere
East Moline
Des Moines
Dubuane
Ottumwa
Waterloo
Bohemian Glass Expands Into Everyday Goods
Prague reports Bohemian glass factories famous for artware are producing phonograph needles house radiators and sewer pipes in addition to traditional pieces. The Svobodne Slovo notes the shift reflects broader use of glass in daily products while preserving craftsmanship.
MENTIONED IN THIS ARTICLE
Prague
Bohemian
Svobodne Slovo
Grand Christmas Gift Underwood Portable Typewriter
Commercial Printing Co announces an Underwood Portable Typewriter as the ideal Christmas gift. Built to last, it promises years of satisfying service from 412 Bland St Bluefield West Virginia.
MENTIONED IN THIS ARTICLE
Underwood
Commercial Printing Co
Bland St
Bluefield
W. Va
FBI Holds Three On Charge Of Robbing Capital Bank
The FBI detained three men on charges of robbing the Shepherd Park branch of Hamilton National Bank on February 17 and linked them to a December 7 heist at the Spring Valley branch National Metropolitan Bank. Loot totaled 64106 dollars with Tassos traced from North Hollywood by plate.
MENTIONED IN THIS ARTICLE
FBI
Capital Bank
Washington
Christo
Pher Tassos
California
J. Edgar Hoover
Tassos
New York
New Jersey
East Rutherford
Leon Miskin
Nicholas James Carrigan
Carrigan
Fort Meade
Miskin
Shepherd Park
Hamilton National Bank
Spring Valley
National Metropolitan Bank
Hoover
North Hollywood
Calif
Big Man Squeezes Into Little Car
Glenn Sunbury, six foot two, compresses into a 26 by 48 inch car four times daily for exhibition tires. The contraption bears a painted sign reading Squat or ...
MENTIONED IN THIS ARTICLE
Man
Chicago
Glenn Sunbury
Also Mentioned on This Page
Seften
Bluefield Jewlery
Princeton Y Ave
Bluefield, W. Va
Paul Mendonca
Fall River
Mass
Paul
Peter Rabbit
Bohemia
Jack
Heritage-Henredonigns
Heritage-Henredon
Heritage Henredon
Princeton Ave
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