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Newspaper
Corry Evening Journal
Location
Corry, Pennsylvania, United States of America
Date
Feb 27, 1953
Page
5
Under a 1951 law corporations must pay May 15 taxes on 1952 income and half of estimated 1953 income. Estimation bases include first quarter 1953 income or full 1953 income. Tax consultants will wait for Q1 results to choose the better base, said Logan.
A fiscal expert notes last year’s recession reduced corporate income and warns few firms failed to set reserves for the new tax obligation. Five percent corporate net income is projected at 287 million for the two-year period, with 127 million collected in the first half and 134.4 million more by May 31. The acceleration feature is expected to account for 52.4 million of the total.
The Legion Auxiliary's last night meeting at the post home laid initial plans for the American Legion birthday party in March. A spaghetti supper for the public is set for tomorrow evening, with weekly get-togethers to begin on Wednesday. Several members contributed during a short social period.
The Catholic Daughters of America Court Conception No 35 met at their rooms with Rev John DeSanti of St Thomas Church as guest speaker on the holy sacrifice of the Mass. Attendees included several named ladies and Mrs John Blatt served punch before the next meeting on March 12.
A gathering was held at Mrs Charles Bugbee's home to honor Mrs Merle Williams and her infant daughter Janiece. Twenty three friends and Whee lock Community Aid members attended, sharing games and visits while refreshments were served and gifts were given.
Mrs. Raymond Root entertained guests at her West Pleasant street home on Wednesday evening for a vanishing record party benefiting Corry Memorial Hospital. Canasta prizes went to Mrs. Velma McCray and Mrs. Thomas Varassa. Hot rolls salad cookies and coffee were served.
The Spencer Ladies Aid gathered yesterday at Mrs. Ralph Bailey’s home. Mrs. Carl Fullam led the session with devotions from Luke chapter nine, and the group voted to contribute to the American Red Cross. Sewing and visiting followed before adjournment, with the next meeting set for March 19 at Mrs. Robert Clark’s on R. D. 3.
Mrs Horton Davis entertained her bridge club yesterday at her West Congress street home. Guests joined for a 1 oclock luncheon then two tables of contract played. Elizabeth Rogers attended. prize winners were Mrs E W Holt and Mrs Don Kincaid with a special prize to Mrs H Langdon Rowe.
About 75 members and guests attended the joint East Branch Grange No. 1262 and Spring Creek Grange No. 236 meeting at the West Spring Creek Town Hall. Scout expo and demonstrations by Troop 23 and Cub Scouts highlighted the program as the Spring Creek Grange received a new silk flag from the Grange Federation and State Grange for reporting in the paint-up clean-up campaign. A lunch followed, and the next Spring Creek Grange gathering was set for March 12.
Mrs Ralph Austin hosted the Berean Society of the First Baptist Church for a Wednesday meeting. Mrs Cecil Messinger led the business and a $15 donation funded a wager toward a store and piano for the new basement room. Sixteen members attended and planned to meet March 25 at Mrs Messinger’s home.
The Helping Hand Club met at IOOF Hall for an all day session starting 10:00. Members sewed quilts for Mexdville Orphans Home and finished aprons to be delivered today. Fourteen members dined together. Mrs. Arthur Burton and Mrs. Mexvill Lillie led the committee. President Mrs. Glenn Gates presided and plans were made for the March 12 regular business meeting.
The first in a series of student recitals for Keppel Tiffany's pupils was held last evening at the Tiffany studio on East Smith street. Thirty students of elementary and junior high school ages participated. A recital for parents and friends will be given in May.
The Mein National Bank of Pittsburgh will absorb Ambridge National Bank late next month creating its first Beaver County branch with assets of 11 million dollars. The First National Bank of Somerset and the Somerset Trust Co. will merge tomorrow with capitalization of 350000 dollars and operate under a state charter at the Somerset Trust Co.
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