Wall Street Backs Congress On Capital Gains Tax Cut
Wall Street praises House Ways and Means action to slash capital gains tax and shorten holding period to three months. If enacted, gains taxed at 16 percent after three months, potentially boosting turnover and attracting new investment. Analysts see broader benefits for equity capital, with Treasury wary of revenue loss.
MENTIONED IN THIS ARTICLE
Sam Dawson
New York
Wall Street
Congress
House
Ways and Means
Stock Exchange
Washington
Treasury
Emil Schram
New York Stock Exchange
Schram
Truman
Francis Adams Truslow
New York Curb Exchange
House Committee
J. Luther Cleveland
Guaranty Trust Co
Social Security Changes Seem Likely This Year
Washington May 19 Congress appears set to broaden the Social Security Act of 1935 with higher old age pensions and wider coverage. Proposals would raise minimum retirement benefits, extend coverage to more workers, and push tax rates higher, with differing House and Senate plans and a likely compromise bill.
MENTIONED IN THIS ARTICLE
Washington
Congress
Senate
House
Myers Writes Script For Arizona Movies
Clifton, May 19. An Arizona motion picture company will begin making 16 mm movies in this area next month for distribution to film libraries across the country. Reed Hawthorne of Coronado Productions, Inc. said shooting will start on The Ghost of Chase Creek near Metcalf in June. John Myers of Tempe State College will write the script and radio personalities will narrate. The project aims to publicize Arizona to over 4,000 film libraries and distributors in the United States, Canada, Hawaii and Mexico.
MENTIONED IN THIS ARTICLE
Clifton
Arizona
Reed Hawthorne
Coronado Productions, Inc
Chase Creek
Metcalf
John Myers
Tempe
United States
Canada
Hawaii
Mexico
Shadow of Truman Besets Senate After Five Years
Democratic senators questioned why President Truman’s “shadow” lingered on the senate floor. Senator Owen Brewster of Maine said the figure, Victor Johnson, who was hired by the Republican senatorial campaign committee, followed Truman on a recent cross country tour and thus had a right to be there.
MENTIONED IN THIS ARTICLE
Washington
President Truman
Senate
Chamber
Sen
Owen Brewster
R-Me
Victor Johnson
Truman
Special open season on rabbits in Cochise County
The state game and fish commission announced an emergency open season on cottontail rabbits in Cochise county starting May 21 and lasting indefinitely. Director Thomas L. Kimball said heavy rabbit burth undergrowth damag es crops. hunting will be legal only in Cochise county with licenses, bag limit six per day. The regular statewide season remains next fall.
MENTIONED IN THIS ARTICLE
Phoenix
U.P
State Game and Fish Commission
Cochise County
Thomas L. Kimball
Kimball
Gas balloons explode injuring five at Chicago restaurant
Five people are hurt after gas filled balloons burst in Delazon's restaurant near Diversy Park on Chicago's near north side. About 25 patrons, mostly bowling team members and friends, were at a party when the blast blew out windows and damaged the ceiling. Fire chief Michael Garrity said a cigarette may have touched hydrogen balloons used for decoration, triggering the explosion.
MENTIONED IN THIS ARTICLE
Chicago
Delazon
Diversey Parkway
Michael Garrity
Also Mentioned on This Page
By James Marlow
Myers
Arizona Movies
Tucson
Martin, Walgreen, Jones, Flores
Ow! Drug
Pearl
Dole
JOY
Can
Swanson
Sherbet MIX
Clicquot Club
Minute Maid
Swift
Ucky Wonder
Will
Roy P
Howell-Drachman
W. Pennington Dial
Clorox
Cage
WERIC
Turson
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