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Newspaper
Titonka Topic
Location
Titonka, Iowa, United States of America
Date
Oct 13, 1955
Page
5
Charles F. Kettering, famed automotive engineer, says tomorrow’s gasoline will be better due to fierce competition among oil companies. He notes modern gas is about 50 percent more efficient than 1920s fuel, with prices similar to 1925 after taxes, and argues competition drives oil men to seek bigger strikes and better products.
Tax experts note the Marine captain won about 35 000 after federal and potential state taxes from the 64 000 prize. News reports hailed the win but tax deductions nearly halve the payout, highlighting the heavy bite of income taxes on game prizes.
Governor Leo A. Hoegh proclaims November 13 to 19 as CROP Week urging farm to farm canvassing to raise food and cash for overseas relief. Iowa CROP Director John Nolin notes 60 percent of gifts fund Asian relief, 40 percent aid European refugees, with Hong Kong housing nearly 700,000 refugees in dire need.
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