Government Probes Tax Dodgers For Billions Lost
Washington January 9 AP government launches an intensive study to quantify billions lost to tax evasion. About 50 billion dollars of personal income is not reported in tax files, roughly a quarter of all personal income. Officials suggest increased enforcement could help balance the budget without raising taxes. House Ways and Means Chair Robert L Coughton and Rep. Aime Forand push for a crackdown.
MENTIONED IN THIS ARTICLE
Washington
Robert L. Coughton
North Carolina
Tax Framing House
Ways and Means Committee
Aime J. Forand
Rhode Island
Metals Prices Reported in New York and East St. Louis
Spot non ferrous metal prices noted in New York and East St. Louis with copper at 18 cents per pound, Connecticut Valley Sea at 12 cents, and zinc between 9 and 10 cents per pound.
MENTIONED IN THIS ARTICLE
New York
Connecticut Valley
East St. Louis
Business groups urge alternative to larger budget deficit
The Committee for Economic Development proposes trimming the federal deficit to about 2.5 billion dollars this year and 3.8 billion in spending cuts. They favor reducing excise taxes, corporate taxation, and aid programs while relying on trust funds to finance part of the shortfall. The plan assumes ongoing deficit financing as a national reality.
MENTIONED IN THIS ARTICLE
New York
Uncle Sam
Truman
Treasury
Committee For Economic Development
Congress
CED
Lack Of Good Demand Features Grain Trade
CHICAGO January 9 AP Grains drifted with a slightly easier trend on the Board of Trade as demand remained weak. Markets awaited revival of foreign buying with wheat possibly rising on export hopes from Germany Austria and Britain. Soybeans led declines while lard moved slightly higher as cash receipts and farm stock data eyed.
MENTIONED IN THIS ARTICLE
Chicago
Board of Trade
Germany
Austria
Economic Co-Operation Administration
Great Britain
Australia
Trapped burglar uses nearest exit in Pitt burglary
Police pursue a burglar who fled Louis Stein’s Pittsburgh home after Stein surprised him. The suspect, with facial cuts, muttered yes sir and jumped from a first floor window, shattering glass as he escaped.
MENTIONED IN THIS ARTICLE
Pittsburgh
Louis Stein
Stein
Yessir
Investments booklet promises steady long term stock dividends
Hundreds of New York Stock Exchange stocks have paid annual cash dividends for 20 to 102 years and yield 3 to 10 percent. The free booklet Invest ment Facts About Common Stocks lists these names to aid a 1950 investment program planning.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
New York Stock Exchange Ad Listing
An old broker advertisement for a home owned and operated NYSE office at 250 N Central Ave at the Van Buren corner, with a contact phone number 4-8828 for inquiries.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Central
Cor. van Buren
Silver Fire Wins Six-Furlong Feature at Tijuana Racetrack
Silver Fire, a nine-year-old horse and oldest entrant, surged from behind to win the six-furlong feature at Hipodromo De Tijuana. The colt finished in 1:10.8 to earn payouts of 22.80, 9.20, and 7.80, returning more than a year since his last top effort.
MENTIONED IN THIS ARTICLE
Agua Caliente
Mex
Silver Fire
Hipodromo de Tijuana
Missouri Pacific bonds surge after ICC approval
In New York bonds trade heats up as Missouri Pacific issues rise on strong demand. Investors push prices up with fractions and several rails gaining, while U S Treasury bonds show little change. The week begins buoyant as the ICC action boosts sentiment and potential reorganization progress nears final steps.
MENTIONED IN THIS ARTICLE
New York
Missouri Pacific
Mopac
U. S. Treasury
Interstate Commerce Commission
Lake Erie
United States of Indonesia Recognized by U S Government
The U S government officially recognizes the United States of Indonesia as it severs Dutch colonial ties after 347 years. Leaders Mohammed Hatta as Premier and Soekarno as President appear with Queen Juliana signing the sovereignty deed in a scene illustrating the historic transfer.
MENTIONED IN THIS ARTICLE
U. S
United States
Indonesia
Holland
Mohammed Hatta
Soekarno
Juliana
The
Netherlands
Central Press
Early Gains Are Shaded Later In Day
New York January 9 The stock market made only modest headway despite heavy early trading. A fast opening brought fractional gains for many leaders before momentum faded and many gains were wiped out. Ticker tape lagged up to two minutes on the floor.
MENTIONED IN THIS ARTICLE
New York
U.S. Steel
Youngstown Sheet
General Motors
Sears Roebuck
Douglas Aircraft
Philco
Iqnavox
Anaconda
Air Reduction
Dow Chemical
American Woolen
Santa Fe
N. Y. Central
Southern Railway
Baltimore & Ohio, Texas Company
Celotex
Chrysler
Goodyear
United Aircraft
Emerson Radio
American Telephone
Philip Morris
Southern Pacific
Standard Oil
N.J
Warner Brothers
Cotton Market Holds Steady Amid Trade Demand
New York Jan 9 AP cotton futures closed mostly unchanged with minor losses of up to 15 cents a bale. March 30.93, May 30.88 89, July 30.48, Oct 28.63, Dec 28.52 with March 28.42 bid. Early trade showed easy opening as mills and short covering met hedge selling. a spot firm moved about 4,000 bales for nearby March. Prices firmed midmorning on stronger demand and Japan’s renewed purchase of 60,000 bales for Q1 shipment basing on May futures.
MENTIONED IN THIS ARTICLE
New York
Japan
United States
Academy Sought By LA Committee
Los Angeles Chamber of Commerce president Earle V Grover announced a Citizen s Committee to help bring an Air Force academy to the Los Angeles area. The Air Force is studying several regions for a possible academy like West Point and Annapolis.
MENTIONED IN THIS ARTICLE
Los Angeles
INS
Air Force
Earle V. Grover
Also Mentioned on This Page
Cottonseed Oil
Mediator
William M. Margolis
Federal Mediation and Conciliation Service
Margolis
International
Olivia DE Havilland
New York Film Critics’ Circle
Business Mirror
U.S
By Sam Dawson
Phoenix
Reds
Israel Jacobson
Nickelsdorf
Vienna
Benton M. Lee
Ficks & Tompane
Robert Miller
Wheeling
Ill
Cook County
NEW
United States OF
Bangka
ARCH
Billiton
Borneo
Madura
Flores
Philippines
Itimor
Palau
Arafura Sea
Queen Juliana
Eales
Penny Gust
Bruce Meeks
International Soundphoto
Hungary
Werefare
Jacobson
Pope
Myron Taylor
Pope Pius
Vatican
Rome
Holy See
America
Fidelity and Surety Bonds
Poe Vreley Mretomel Company
Aaauaagzuncee
Arizona
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