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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Dec 28, 1965
Page
12
Tax expert William L. Raby outlines legal methods to lower inventory values and reduce taxable income for small merchants. He discusses ending inventory concepts, dollar value LIFO, installment sales timing, prepaying expenses, and the option to elect corporate taxation for 1985 with careful consideration.
In Los Angeles market reports Alfalfa prices show U S No 1 at 39.00 to 33.00 per unit and No 2 at 28.00 to 29.00 with other grades and hay at 25 to 37. Carrot arrivals list 25, wheat 17, barley 4, corn 8, oats 11, sorghum 4, flour 20 and grain hay other figures.
Coffee futures ease on scattered liquidation while roasters buy green stock. Santos No. 4 ex-dock trades at 42.504 cents per pound with 44.25 and 43.25 offered. BR futures fall 5 to 14 points. March closed at 43.06 and July at 41.86 with December at 86. Sea alignment noted.
The Federal Trade Commission orders Consolidated Foods Corp of Chicago to divest three grocery chains, a drugstore chain, a dairy company, and a baking company. It must dispose of stock in four other companies operating supermarkets within three years, with possible two-year extension. The action cites violation of antitrust law and a lack of admission of wrongdoing.
New York AP reports cottonseed oil futures finished with gains in some contracts amid limited bid activity. March close at 13.42, May at 13.49, September 13.00 and October bids noted though unclear due to garbled text.
The report outlines prices for retailers and consumers across sizes and regions, listing ranges for eggs and poultry products, carton deliveries, and large store retail figures. It notes volume pricing at ranch with fryer, roaster, and egg-type hens quantities and weighted averages, and records no turkey prices.
Pan American World Airways reports net income of 43.303 million on 11 months to Nov 30 1985 with revenues of 410.06 million. Hudson National, Allegheny Power System, Utah Power and Light, Grand Union, Northwest Airlines and other firms post varied profits and per share figures for periods ending in Nov or Sept.
William A. Doyle urges readers to establish and keep cost basis records for all stocks and other capital assets. He notes the work involved, the IRS implications, and the estate tax impact, advising consultation with a qualified accountant for individual guidance.
President Johnson’s administration seeks a $1 billion reduction in the U.S. balance of payments deficit through industry led restraint and increased exports. Assistant Secretary Brimmer says voluntary export restrictions target direct investment and offer 1965 improvements, with 1966 focus on investment amid Viet Nam activity.
Grunewald & Adams jewelry firm confirms expansion at 60 K. Congress St in Tucson. They will buy the building leased from the John Ivancovich estate and acquire the east building once Empire Draperies plus a nearby structure facing Arthur Grunewald Scott Avenue now housing a real estate sales office. The company has another outlet in Gl Cen Shopping Center on Hast Broadway.
Dispatch notes show multiple rescue truck movements with first aid at various streets including W District St N Stone Ave and Pennsylvania Drive. Units 1 12 and others responded to incidents with first aid. Times range from morning to late evening including 9:35 9:50 a.m. 1:07 1:25 p.m. 22:26 p.m. 4:25 p.m. and 7:02 p.m.
Beverly Hills based Great Western Financial Corp merges its Great Western and Santa Ana savings and loan associations creating a firm with assets over 800 million dollars. The merged entity becomes the fourth largest of more than 6400 associations in the United States with ten offices in the Los Angeles Orange County area. The California Division of Savings and Loan had approved the merger.
Funeral services are set for 2 p m tomorrow at the Arizona Mortuary Chapel for Alexander McKay Parker 81 longtime financial editor of the Arizona Daily Star He died Sunday at Tucson Medical Center after a short illness Burial will follow at Evergreen Cemetery Parker a native of Nixburg Alabama began his Star career in 1910 and helped edit the Star and Tucson Daily Citizen Pallbearers are listed and memorials may go to the Alex Parker Award Fund University of Arizona or the National Foundation
Directory note lists business entries including banks, florists, and funeral service announcements with a memorial director. It highlights a union of firms under a regional business service directory.
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