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This newspaper page contains 5 articles. Subscribers can read the full text of each article.
Newspaper
Hope Star
Location
Hope, Arkansas, United States of America
Date
Jun 01, 1953
Page
7
In Washington hearings begin on the excess profits tax with President Eisenhower urging continuation to December 3. The measure, initially enacted after the Korean War, aims to curb profits, finance rearmament, and prevent price spikes. The overview explains the RPT system, noting most firms under 25 000 annual earnings pay the 30 percent normal tax.
A discussion of normal tax and 22 percent surtax on earnings over 25,000, capping total tax at 70 percent. It analyzes three methods firms use to minimize excess profits tax with a sample KY.1 and figures from XYZ. Method 2 yields lower overall tax in many cases, while Method 3 relies on invested capital.
The article discusses Arkansas energy pricing, noting that electricity and natural gas costs are kept low by regulatory policy. It explains how excess profits taxes affect firms differently, citing XYZ and ATN, and details how utilities like Arkansas Power and Light Co. and the Arkansas Gas Co. influence consumer rates while expanding generation and distribution to support electrification and gas heating. It highlights how more efficient appliances, heating, and industrial demand have shaped the energy landscape, with public service commissions guiding rate structures.
Fragmentary historical notice reports 69 more casualties awaiting confirmation from the defense department and notes a list update. The text references Korean War casualties and mentions various procedural details, with damaged phrasing and unclear sourcing.
A youth died yesterday when struck by a car along Highway 1 near Abstheville. Witnesses say the vehicle, driven by We Barnett, left the scene. Police are investigating the fatal incident and have identified Hugh Westbrook and Owent Atehley as involved in the inquiry.
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