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Newspaper
Corry Evening Journal
Location
Corry, Pennsylvania, United States of America
Date
Dec 26, 1952
Page
4
Stock market gains boosted high income tax implications for profits. Long term gains after six months are taxed at 50 percent, with an optional 26 percent cap, influencing whether investors sell. Tax law provisions affect profit taking and loss deductions, while earnings versus price ratios show broader market shifts and inflation.
After a 90 minute session on Wednesday the Erie council nearly reached the six and a half mill municipal tax rate goal, trimming next year requests by about 105000. Streets Director McCarty proposed pooling supply requisitions and consolidating fire engine storage. The journal noted higher expected tax receipts for 1958 from 85000 to 145000 and no need for a 875000 loan, reducing next year’s requirements by 162868.40. Pennsylvania coal output remains the nation’s largest.
A reader recalls a police report of a man hiding under a bed on the third floor at 612 East Main Street. The writer laments being the butt of jokes and questions why sensational readers’ notes dominate the paper.
The State Agriculture Department forecast that Pennsylvania winter wheat production in 1983 may average 20 bushels per acre, down 2.5 bushels from last year. A federal state crop survey cited drought last fall as affecting seed germination, with 83 percent of seedings germinating.
A coal stove explosion shattered a two story home in Rushequa injuring Mrs. Thomas and leaving her family destitute. Fire crews from Mt. Jew and nearby units fought flames, saving nearby houses while volunteers organized a relief drive and a $2,000 minimum fund to aid the Thomas family with emergency housing and Christmas gifts for the children. Local unions and civic groups mobilized to collect subscriptions and supplies.
The Civil Aeronautics Board said U. S. scheduled airlines posted their best safety record with 0.38 passenger deaths per 100 million passenger miles for the year ending. The 1951 rate was 1.3 deaths per 100 million miles, breaking the previous low.
Neighbors and friends began efforts to provide a Christmas for the family after a loss not covered by insurance at Equa Church. The article notes a broader claim that more than 99 percent of the earth's air lies below 20 miles above sea level.
The agriculture department estimates next spring wheat production will reach about 17.09 million bushels, down from 19.014 million in 1952, reflecting a 3 percent germination gain but reduced overall yield. Separately, funeral services are planned for Gertrude L. Heatley, former president of the Pennsylvania Nurses Association and longtime Southside Hospital administrator in Pittsburgh, who died yesterday.
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