Tax Reform Targets Philadelphia Nun Loophole
The tax reform bill closes the Philadelphia nun loophole that exempted Mother Katherine Drexel from taxes on inherited fortune given to charity. It also creates new exemptions for major firms like Uniroyal McDonnell Douglas and Lockheed Aircraft, raising questions about future losses and the reach of charitable trusts.
MENTIONED IN THIS ARTICLE
Washington
Philadelphia
Mother Katherine
Uniroyal
McDonald Douglas Aircraft
Lockheed Aircraft
Congress
Thony Drexel
J. P. Morgan
Lockheed
Insurance firms merge with mutual funds in industry shift
Insurers and mutual funds form cross industry alliances with assets near 250 billion dollars, shifting from earlier hostility. By September studies show eight billion dollars or 16 percent of mutual fund assets tied to insurance, with growth expected. Antitrust issues could follow if concentration increases.
MENTIONED IN THIS ARTICLE
New York
Wiesenberger Financial Services
Anchor Funds
Washington National Insurance Co
Tsai Management Funds
Continental Assurance Co
United States
Wiesenberger
Credit Union Records Seized in Parsons Case
State authorities seized records of the First Credit Union of Parsons after a writ of mandamus. Treasurer J. Redmond refused to surrender documents, resisting the order as examiners sought to turn over assets and records. The union, organized in 1948, lists about $150000 in assets amid a $15764 district court loan judgment. A December 29 hearing in Topeka Will determine if a receiver should be appointed and the charter revoked.
MENTIONED IN THIS ARTICLE
Parsons, Kan
Parsons
Cliff F. Howe
Leo Frederick
Labette County
Oliver
J. Redmond
Credit Union
Redmond
Parsons Police Department
Kansas Central Credit Union
Wichita
First Credit Union
Howe
Topeka
Also Mentioned on This Page
Katherine Drexel
Sam
Senate
Treasury
Mutuals
Insurance
John Cunniff
Allen Monument Company
Central, Chanute
Dale Steinman
Duane Knapp
Our Office
HS Hay
S. Evergreen
Chanute
Terry Murphy
F. M
Mike) Harris
Neosho
Allen, Wilson and
Woodson Counties
Member Audit Bureau of Circulating
Associated Press
Settle
Fredonia
C of C
John Settle
Fredonia Chamber of Commerce
Steven Rogers
Kenneth Streets
Bud Barnes
Frank Ableson
Streets
John Linn
Howard Sell
Dale Brown
Charles Scanlan
Len Pugh
Harry Paulsen
Tommy Elder
Joe Knickerbocker
John Parker
Ableson
Trads
Hallmark
Midwest
W. Main
Poinsettias
VFW
BANK
Mark — Bank Americard
Litwin
Home Savings Assn
Westclox
Home Savings
SEK Financial Institution
HSA
Federal Savings and Loan Insurance Corporation
Home & Farm Loans
Lincoln & Walnut
He Wytebar
State Farm
Flmc Et Eee
Giles Whitworth
State Farm Insurance Companies
Biome
Bloomington, Hines
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!