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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 28, 1971, Lethbridge, Alberta PAGE TWO THE LETHBRIDGE HERALD FRIDAY, JUNE 28, 1948 THREE MAJOR CHANGES j Great Flour Rush IN BUSINESS TAXES j Underway In G.B. OTTAWA. Jure petroleum, sararal ?as and changes ia corporation income sue -were 10 be extendec .cr excess pzpfits taxes another year. revenue from those sources oy an; _. Avenue' While proposes that a husband a 12-maa jury to show scars sne bardv men of the soil and the sea- Average Canadian oaSled by a. very o- -_ _, and incomes of. said were initialled her with-the >armers and confusing s.vstem of income tax and -L more than S750 be taxed as cigarettes by s young army fiier. i free, Finance Minister lisley thei-aouiy allowances by which the for uncensored press reporting ooerations. Rep. Everett Dirksen (Rep.. author of the restriction, claimed: "t since T> cents out of every! eacn senator. aorupUy ending a dollar comes from the filibuster by Senator lee Immediately, on Majority Leader JAlben Barkley's motion, the senate] I recessed until noon today. to stand up and speak .The Action came unexpectedly- a right to equipped as part the Central fefeKive tbfc The paper said the Amenttm plan was complete the era defence pf this cvntUMitt just eactem and western de- fences were jointly during the war and this mean not huge landing- fields bat vast machinery and equipment service and Biain- tain big; air squadrons and addi- tionally a network et coauniini- emtions to service these KING DEXIES OTTAWA. June Prime Minister Mackenzie todxv in the commons took ex- ception "in the strongest pos- to 3 Financial Post story reporting that his recent return to Canada from the United Kinrdom had been has- tened by a Cnited States -ulti- matum" that Canada fortify her northern areas. air. King: said the reoort. pub- lished by the Toronto newspaper in its current issue, was "wholly and contained "so many he felt he had to take this exception. He said it was "absolutslv" untrue that the United States government would present to Canada anything that could be described as an "ultimatum." into earning she -eplied. fluctuate widely from vear to vear, 52-2oO a year or less, me man with me taxed on a 'arlie two kids will we" r moving ahead of the give-and-take game the long run in 1947. GRAIN PRICES Winnipeg Grain Prices Se, June 28. G ______ As a corapsnioa measure io the taxea as persons increase in the basic exemptions, i own separate the government proposed that the present tax credits of allowed asaias; normal tax and SSO allow- ed against graauated tax for de- DendRnis be "replaced by deductions irom iucoms and that the tempor- ary measure by which fainily allow- ance payments BOW were adjusted to the income tax aBcwarices for a child way for a "solution, that will be simple and permanent." Mr. Esley said i; now was pro- posed to allow a single, simple de- duction from, income of for each child eligible to receive family allowances and to regard all tax- payers having such children as re- ceiviag the family allowances for their chiidrsn. For other dependents not eligible for famfl? allowances, there wili be aHowed a sirsigh; deduction from income of Ee said this step irould provide Hve LIVESTOCK Calgarr Livestock CA3--GA3T, Jure 2S. in compulsion to The wage-earner two calculating children will have to pay in- come tax in 1K7. bus through the The minister said that, for the, year he will receive a. total of var '3-5 and su'oseauent vears for each him S14 rs and fishermen who wish j in the clear. At S2300 a year, he's farmers_________ to take advantage of the right to average their income in this man- ner will be recuired to file returns for each year whether or so; they have taxable incomes. futures'" prices on the Winnipeg j marSec dosing steady. Very lighs He explained further: Grain Exchange scored rew sea-1 receipts. Tares ciosea Monday, "j., -arrtiers been paying only when the decks were cleared. At present, the S2.258 man "Kith two children pays S216 income tax and his S14i family allowance bene- fits leave hira in the red. At sonal high points todar for the j July 1. deferred months of October and- Thursday's receipts t 334 and fisher- S2.oGO, he's paying a net tax of 5132. men who 'have made returns for HOW IT WORKS niece." Dirksen declared. "The time has come to quit appeasing." Another Funnel Cloud Seen Near Fort Frances, Ont. TORT FRAKCES, Ont.. June 28. on the outskirts of this northwestern Ontario town to- dav reoorted seeing a funnel-shaped cloud formatioa. passing five miles west of here about EJH. There were no immediate reports of damage although a strong wind was blowing in Port, Fiances and International Falls. Minn., just across the Rainy Hiver. at the time and it was thundering. The funnel came from the southwesr by a "twister' which sens 12 to hos- pital and caused hundreds of thou- sands- of dollars damage here Men- day. Tae United States weather bureau at International Fails said reports indicated a tornado cone had pass- after Sen. O'Daniei had spoken; more than eight hours against the] compromise bill, which the house previously approved and which ad- ministration leaders were attempt- ing to speed to the White House- Sen. OTaniel's agreement to the) debate limitation apparently assur- j ed a vote -today on the measure' with indications that it would be given senate approval. ITCH CHECKED IM a Jiff if -or Money 3ack foot, seated, psspfes and otter i t. ______ML pure, coohnx. 0. D. D. PHCSCMPTIOM. Greuesen Spothw. coaafons and QaickS; Don't stiff w. ASIC voar for B. O. D.---------------'------ December. 25 calves, 304 hogs, six sheep. cat-6- j 1945 and 1947 will be eatitied to average their incomes for the three '.1948 and to nos she tax tax which over the dian wheat. Rye prices at the close were five i Good to choice fed calves 13.00- higher at- Julv Oct., i 14J25. Good cows 9.00-9.50. bid; pec., S2.67U bid. Cash prices: Cats: 2 C.W. 3 C.W. es 3 C.W. ex 1 Feed US SUM tins ALCp uiu.iiic _. n -peep: 1 -cwri a workable and permanent, solu- Fwd 2 Beeaola, don and at the same tune preserve the principle that a. taxpayer- who received fainiiy allowances for his children would nos a2so receive a ioll allowance for the same chil- dren, under the income tax act. The value of a deduction from taxation income of S100. plus the Tracfc 51. Rye: 1 C.W. 307; 2 C.W. 307: 3 C.W. 302: rej 2 C-W. 257: 4 C.W. 265: Track 307. Screenings Chicago Grain Prices CHICAGO. June j cropped more than a cent a bushel: three-year period ha'd they earned ioss.) the average income in each of the 1.300 1.500 The following table shoTre the position of a man with two chil- dren after his income tax and fam- ily allowance benefits are cancelled, put: (Figures marked with an x indicate net gain, the others net Final Tribute To Senator McRae OTTAWA. June red enslsn on the parliament buildings peace tourer flew at half-mast, yes- terday as many members of the! senate and the house of commons j paid final tribute to the memory' of Senator Alexandr Duncan Me- 1 Rae. C.3., 72. of Vancouver, who! died here Wednesday. The funeral service was held In Si. Andrew's Presbyterian church here with Rev. Ian Burnett, rector! of the church, officiating. The rector paid tribute to Senator J Chesterfields and Car Upholstery cleaned and demothed on or off the premises. Ready tor use in six hoars. COLOR-BRITE CLEANERS Phone 2569 Night or Bay ed south of its station there this McRae's outstanding service to his i morning but was not believed to countrv in civil life and in the! have touched the ground. Wind J Rrst Great War. in which he rose i velocitv a; the station then was nt miles an. hour. three years less the amounj of' tax actuallv naid ia respect of 1946 and 1947. means, of course, that in Canners and cutters Good bulls 9.00-10.00. Good to choice vesl calves 12.50-13.50. Good stacker and feeder steers i cases the fanner or fisher- 10.00-10.75. dan mav be entitled to a refund ia respect "of 1948 of some of the tares he paid in resoect of 1945 and 1947." Mr. Ilsley said he would outline the method in more detail later. CANADIAN STOCKS CBy James Richardson and Sons) Abitibi Open Close 31 23 equivalsns of a. deduction iroai hT. 24 WhOe he did not say definitely, is was assumed the new procedure I would become effective ness Jan. i, 1947, when ether tax changes an- incoiae for nearly all taxpayers, particularly in the lower brackets, where the excess is "considerable." -Mr. Eslev- said this proposal as- sumed tie universal payment of family allowances to all taxpayers nrfea eligible cMlarea from, next Jan. 1 and said taxpayers who are Ect now family allowances for children eligible for them should application for payments TO begin at she new year. SATE SCHEDULE FLAX In explaining the proposed amplification of rate schedules, with a resulting "substantial" re- duction ia tax liability, itr. Bsley said: "The present normal tax, the graduated tax, the formula for rairstianTig the refundable portion is no longer collected, and the family allowance recovery tables will be replaced by a single sched- ule of graduated rates applying on the excess of income over the new MISS THIS ONE! SEE IT FROM THE START AND 9 TONIGHT offerings of cash grain by country Q" p elevators. 3U Deferred oats contracts closed cockshuis 16'-i lower while July was cons. Paper 20 i at 33 cents. Com was Cons. Smelters and barley at CASE PRICES Bom. Bridge 421- Ford -A'' 39 42 25--1 Wheat: No. 2 red 197 nominal. Gvpsum.............. 17 17 om: No- 2 yellow. 144 Hiram Walter.........1474 143 Com no oats: barlev, malting, TSinoeYouVentAway OAUDETIEaSlBERT JtXNJEB JONES JOSEPHCGTTES SHSLEYiaS'lE mm WOOIIEY SKSWSORF ROBERT WALKS STARBRIGHT in Color Market Trends .WALL STREET STOCKS: Steel stocks, lower most of the time, came back in the fonrtb. hour of today's market and sel- ected issues extended the rally of the previous session, bat many leaders failed to override lirtit selling-. TORONTO STOCKS: Junior mines -were shocked into fairly price losses today on tae Toronto exchange by the failure of the budget to provide expect- ed lax reductions. The whole board was down today with cheaper mines leading the de- clifies. Volume continued com- paratively light at about shares. MONTREAL STOCKS: Faced Tar papers, industrials anu liquors securities worked to narrowly lower ground in post- budget tradhis today on the stock excbanse and curb mar- ket. At the fifth hour all indices were down except golds which were unchanged. Imperial Oil 14 Inter. Nickel 42 Inter. Pete Laura Secord Massey I7 JMeCcli JSront ?4 Montreal Power 20 Nat. Car Page nsrsey 32 Powell Hiver 35 Price Bros........... 69 St. Law. Corp. 36 i Shavdniean 24' Sicks Srew. 14 iy-il, VfcUCH taA 610 i Bounced ia the budget come into fc-rce. THE BASIC HEKD Dealing specifically with farmers, Mr. Dslev said further: "Another problem affecting farmers to which a great deal of consideration has been given is the treatment of the 'basic herd' In the case of a. livestock farm or a. ranch. The Depart- ment of Xational Revenue has, J believe, been following: the practice of allowing adjustments cf income over the preceding five-rear period in the case of abnormal dispersal or liquida- tion sales. "The general aooption of- the 20 14 42 20" 20U 271- 65-: 35U I 14 three-vear forward averaging sys- 1.730 2.000 2.250 2.500 2.750 3.COO 4.000 5.000 30.0CO 75.000 100.000 X130 xI02 X54 x3 72 132 134 259 561 S32 27.S35 46.050 65.160 X75 Xl4 49 113 183 463 767 1.581 61.207 Manhunt Ends As Jackson Caught ISIS OP WIGHT, June A 13-day manhunt, conducted by several hundred British paratroops, blood hounds and police armed with machine-guns, ended early today with the capture of George Jackson, former commando, who escaped from the island's Parkhurst prison 13 days ago and has been terroriz- ing the entire region ever since- After days cf bushbeating the U.S. Cruiser Puts Into Trieste Harbor THDESTE. June The lO.OCO-ton United States cruis- er Fargo put into Trieste harbor last; night- She joins ten British and "United States warships reported lying in the vicinity. Including the 9.400-ton British cruiser Liverpool in the port of Venice and the 8.000-ton British cruiser Mauritius at Trieste. BialomaHc quarters have inter- preted this "snow of strength" as designed to counteract possible ag- gressive intentions by Yugoslavia. Germans Oppose Eviction Order HAMBURG, June ish authorities today held an un- JOXES AVERAGES Jones averages at close: 30 Industrials 203.62 up .59. 20 Baiiroacs 6581 off .07. 15 Utilities 42.10 up .15. Carburetors, Fuel Pumps, Ignition A checkover and adjustment Tii; assure you of better perform- ance and mileage, MECHANIC SALES LTD. Work Guaranteed Phone 2822 Cor. 3rd Ave. and llth 5J- S. TORONTO MINES CBj' James Richardson and Socs) Open Close Aumsque............. 75 73 Bid. Kirk 26 25 Bralome 12 12% Central pat. .........235 225 Cosh. Wiilans .......235 300 Dome 25 East Malanic 194 190 Giant Yeliowknife 735 730 Earricana 25 24 Hasaga............... 155 150 Eollrnger 14 Hudson Bay 42'- Kerr Addison lays, Lamaque .............705 70o Little Long Lac.......235 235 Leitch 140 143 Macassa .............370 385 Melniyre 66'i Mvlamaoue 75 Joliet Quebec 80 f Lapaska 35 Noranda Paymaster 70 Pickle Crow .........365 Quemont 1 San Antonio .........490 Sherrin Gordon......290 Sladen ilal......... 56H Steep Rock ..........325 330 Tec'i-Hughes ........420 420 120 Thornp. Lund 63 70 Ventures !3'-t 13-, Total sales 855.000 shares. just; announced 01 nusaueauus uie t in searcners spotted the 24-year-old stocS herd is being maintained but; annual livestock sales may vary from year to year. "Several suggestions for carry- Ing the basic herd principle fur- ther have been made and in this connection I must acknowledge the help received from various- honor- able members. "Most of these, however, involve maintenance by the fanner of ac- counting records of greater or less complexiiv and "whether they will prove practicable from the stand- point; of both the farmer and the tax administration is a matter which will have to be worked out by the officials in consultation the taxpayers. CRUSHED UNDER GRAVEL roaa and (In London, police still sought Neville George Heath, self-styled colonel in the South African Air Force whosp- assistance is sought bv Scotland in their inquiry into the murder of a 30-year-old movie exira last Friday. Heath was sougnt, for questioning in the mur- der of Mrs. Margery Gardiner, found dead in a Notting Hill Gate hotel room, naked and bound.) announced number of German civilians under arrest following a mass demonstration staged by Ham- burg residents Thursday to protest an order directing persons to evacuate their homes to make room for families of British military per- sonnel. The demonstration, In which ap- proximaifilv persons partici- pated, was the firsi large-scale manifestation of resentment against the Allied occupation. The defiant crowd assembled !n the city square chanting, "Firs'; ahosohorous bombs, now removal 'reference to Allied air raios which destroyed a great part Oitne booed Burgomeister ersen when he appealed to the dem- onstrators to disperse. to the rank of major-general. Following the funeral service, the cortege entrained for Vancouver where a private service and inter- ment will" be held. Among the host of distinguished persons noted in the lengthv cent- i ege were: Prime Minister Mackenzie i King. Progressive Conserartivej Leader John Bracken, Senator J. E. J King, sneaker of the senate, and! Senator W. -M. Aseltine, acting Progressive Conservative leader. AIR CONDITIONED FOR YOUR COMFORT RELEASED OX BAIL legs I "'rSe crowds milled about for imost two hours, during which ii twice sang the old German atonal anthem "Tteutscliland Tiber AUes. MONTREAL. June rad Sauras. Canadian Seamen's Union business agent here who faces charges arising out of the re- cent inland seamen's strike, today RED DHSa June j was freed by Judge T. A. Fontaine IS-vear-old workman was on bail of Sl.OOO after he had com- j fx i killed todav when he was crushed j pleted a three-cay remana to pro- i uncsr a load of gravel where he vincial police heaccuarters. i 69 i uncsr a load ol grav i was working near Penhold. FLOORS Cleaned, Waxed and Polished. Estimates free. PHONE 2569. PONDERING CONSCRIPTION June i War Secrecarv Jack Lawson told j the house of commons Thursday 500 286. that he was not in a position to say 30 wnether some form of conscnptson; would continue as part of Britain's: peacetime army organization. i i FORCED TO QUIT WORK FORT FRANCES. Ont., June 28 i 30 men in Fort Frances grinder rooms of the Minnesota and TORONTO AVERAGES AT CLOSE Ontario Pulp and Paper Company i Industrials 205.36: down ,49. were automatically out of work i Golds 120.07; down 1.30, when employees of the International Base Metals 9854: cow.t 51. j Falls plant went on strike yester- Western Oils 25.65: down 31. day. PLACE YOUR Hail Insurance B. J. MERCHANT METCALFE BUILDING SEE US ABOUT FIRE AND AUTO INSURANCE FAMOJU PlflYlRJ TODAY TILL SAT. MERLE OBERON TURBAN BEY' THCKAS GOMEZ GALE SOSDERSAA50 RAT COLLINS EiHEST TSUEX MARCH OF SELECTED SHORTS Feature times 3.00. 5.05, 7J5, 9.25 AIR CONDITIONED FOR YOUR COMFORT TODAY AND SAT. IIWY A'GHOSTTrfEW I THE SECRET BEHWB i SIX MURDERS... I'ani be wasn't tilkhrf mm DM BAJ-HOB JAWS CARTER BEOSGE MACREADY I yESS-SerrenPlayliTChariesO-Heil-PnxIiictd ttocOania Dwetatf kr Otcir BocitidinvJb I I SECOND FEATURE I STIRRING DRAMA ZANE GREY'S "SUNSET PASS" BRONC RIDING, STEER DECORATING, CALF ROPING, WILD COW MILKING, WILD HORSE RACE, Etc. STAMPEDE PARADE Bands, Clowns, Floats, Indians, Cowboys, Cowgirls and Special MECHANIZED MILITARY SHOW Through kindness of Col T. E Snow, D.O.C Military District 13 SAT. AND MON. FEATURING EACH AFTERNOON IN the ARENA MOUNTED MUSICAL DRILL Bv 12 BEAUTIFUL GOLDEN PALOMINOS Including such outstanding horses as "Bright Star" owned by Jerry Puckett, Calgary; "Copper owned by Hugh Cozart, Calgary, and BIG CARNIVAL EACH NIGHT DANCE ELKS HALL EACH NIGHT IV Daring Feats of TRICK RIDLNG AND ROPING BRANDS FROM GLENWOOD. MACLEOD AND CLARESHOLM EW ;