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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 17, 1975
Page
12
In this reader Q A column Shulsky answers questions on long term investing choosing common shares versus mutuals managing a high mortgage and the appeal of leveraging house equity. He explains bond terminology and the effect of weekend world events on market quotes and how to read stock data.
Soviet archaeologists report a cave site in the Caucasus foothills where early humans lived about 500000 years ago. A fossilized cinder suggests fires were used earlier than thought as Asykh cave digs in Azerbajian uncover multiple cultural layers, with Neanderthal jaw fragment found earlier. The expedition head Mamedali Guseinny notes six layers, youngest around 12000040 159,000 years old. On this date in 1801 the U S House elected Jefferson president after an electoral tie with Burr.
IRS rulings in 1974 give both good and bad news on job related deductions. Deductions may cover care for a dependent under 15 and payroll taxes on domestic workers, travel and lodging for temporary jobs, and moving expenses under certain conditions. Professional education deductions vary by outcome, with nuances for dentistry and psychology.
Inquiries to the Cedar Rapids Marion Area Chamber of Commerce indicate many residents are being contacted for work-at-home schemes. John Stack, bureau chairman, warns to exercise caution before joining these operations. He notes common traits: buy-in before starting, huge profits, and no experience required. Legitimate firms rarely advertise and often recruit by word of mouth. Most schemes originate in Eastern cities, using a post office box address.
Senator Humphrey and Senator Proxmire urged the Federal Reserve Board on Meet the Press to loosen credit restrictions, warning Congress may intervene if the Fed does not ease access to credit. They criticized Ford's economic program and outlined potential congressional actions. Byrd echoed warnings of deeper recession and higher inflation unless policy shifts occur.
The bridge scene notes that mistakes may not be costly and can turn into winning scores. It mentions Joe Conforte of Reno and a double by San Antonio players, hinting at a strategic moment in a bridge game.
In a national bridge vignette Donald notes a three heart reply after North and East pass. West continues with a three heart bid, South’s pass or actions hinge on the artificial two clubs and two diamonds sequence, illustrating how a costly misstep can still yield a top score.
Jim notes South hid five diamonds and played a spade king then shifted to hearts as Bast misread dummy. South later led three of diamonds and dummy's nine, catching Bast with ten of diamonds. The critique says South’s play was illogical yet plausible, with suggestions Joe avoid risky doubles next time.
Princeton based AP report notes a Gallup poll of 1,031 adults from January 10 to 15 shows 74 percent drive to work, down from 79 percent in 1971 and 1974. Buses 7 percent, walking 5, trains 2, and other modes 5.
Ray Eveland, export marketing manager for the Commerce Department's central region in Dallas, will address the International Trade Bureau at the Elks Club Tuesday night. A Yale Iowa native and Iowa State University graduate, he served four terms in the Iowa House and worked overseas in Canada as a foreign service officer. A $5 per person dinner follows a social hour, with reservations through the Chamber of Commerce.
Soviet party leader Leonid Brezhnev is set to visit Britain at Prime Minister Wilsons invitation as London and Moscow sign five cooperation agreements. The accords establish regular political consultations and joint work toward nuclear disarmament, plus exchanges in science, technology, industry, medicine and economy.
Seattle Post Intelligencer reports Egil Bud Krogh told friends Nixon, two weeks after resigning, feared a 30 year prison sentence if he pleaded guilty. Nixon, who later received a presidential pardon, asked about Krogh’s prison experience and urged him to do the right thing. Krogh pled guilty in 1973 to civil rights violations tied to the Pentagon Papers case.
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