Tax Bite Keeps Many Investors From Selling
The article explains that capital gains taxes deter investors from selling. Even with profit, a 25 percent long term gain tax and higher short term rates reduce reinvestment funds, contributing to a thinner market and greater price swings. It contrasts U S treatment with many nations and notes Congress shows little appetite to change the tax. A hypothetic example shows an $11 250 tax on a $75 000 sale.
MENTIONED IN THIS ARTICLE
Sam Dawson
AP Business News
NEW York (Ap
Uncle Sam
New York Stock Exchange
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U.S
Dead letters opened at post offices to determine addressee
Dead letters are opened only by designated staff under supervision. If the correct name or address is found, the letter is sent to the rightful recipient or sender in a sealed cover with a 10 cent fee. Cash or valuables over $1 are kept for one year, then become U S Government property. Letters bearing full sender and recipient names are not treated as dead letters.
MENTIONED IN THIS ARTICLE
U. S
70 year old to sail Atlantic in 35 foot boat
John C. H. Wendes, 70, plans an Atlantic crossing in a 35 foot sailboat named for Sweden. He will sail with Charles Picek, 37, and Earl Potts, 27, after selling his home following his wife’s death and retirement from U S Rubber Co. where he was chief engineer and production manager.
MENTIONED IN THIS ARTICLE
Clinton
Conn
John C. H. Wendes
Sweden
Atlantic
Wenders
Charles Picek
Wahlington
D.C
Earl Potts
Maryland State Penitentiary
Straits of Gibraltar
New York
Wendes
United States
U.S. Rubber Co
Naugatuck
No title found for sale reflection in stable markets
The passage notes selling as a conditional act and suggests a consolation in a good gain. It evokes an old Wall Street maxim that one should not go broke by taking a profit.
MENTIONED IN THIS ARTICLE
Wall Street
New York weighs compulsory bomb shelters plan
Gov Nelson A Rockefeller to consult New York's congressional delegation on a proposal for mandatory nuclear fallout shelters. A task force estimates costs from 150 to 500 dollars depending on DIY vs professional build, with the governor and state defense council endorsing the plan in principle and legislative action required.
MENTIONED IN THIS ARTICLE
Albany
N.Y
Nelson A. Rockefeller
New York
New York State
Rockefeller
State Defense Council
Bone Delays Surgery On Crash Victim
Larry Littlefield 22, injured in a two car crash, faced surgery delay as police hunted a four inch bone fragment missing from his leg. Authorities traced the piece to a garage where the wrecked car was stored and recovered it from the steering post base.
MENTIONED IN THIS ARTICLE
Houston
Tex
Larry Littlefield
Littlefield
Lawyers Urge Defeat of Segregationist Resistance Bloc
A letter from prominent Fredericksburg Spotsylvania lawyers calls for defeating the anti school integration bloc in the April General Assembly session. Signers include T. Stokeley Coleman James Ashby Jr F Bernard Coleman and William J Gibson among others warning of illiteracy and economic decline without public schools.
MENTIONED IN THIS ARTICLE
Cao P
Del
France
B. Gout
Almond
General Assembly
Fredericksburg
Spotsylvania House
T. Stokeley Coleman
Spotsylvania
Miners' Holiday Cuts Norfolk and Western Coal Loadings
The two week miners holiday reduced railway coal shipments. Roanoke report shows loadings fell to 4 026 cars last week from 19 026 the prior week, reflecting the slowdown in activity.
MENTIONED IN THIS ARTICLE
Roanoke
Norfolk and Western Railway
Virginians To Exceed 1958 Income Tax Total
Virginia tax receipts show more than 70 million dollars collected in 1958, an all time high. State Comptroller Sidney C. Day Jr. says this total will top the estimate by 3 to 4 million dollars, creating a potential surplus for the 1960 62 budget and adding funds to the general fund unless restricted by new expenditures.
MENTIONED IN THIS ARTICLE
Richmond
Man Drowns In Claytor Lake Near Shore Incident
In Claytor Lake, a canoe capsized about 40 feet from shore, drowning 68 year old Samuel Sands Cooper of Princeton West Virginia a retired coal operator. He was with his grandson Frederick Goodall 10 who swam to shore and tried to reach him with an inner tube but failed.
MENTIONED IN THIS ARTICLE
Pulaski
Claytor Lake
Samuel Sands Cooper
Princeton
W. Va
Cooper
Frederick Goodall
Hennessy to Speak at Winchester Jaycee Dinner
Frank Hennessy, goodwill ambassador from Chesapeake Bay, will address the Winchester Junior Chamber of Commerce at 6 30 p m Friday at the Lee Jackson Restaurant. As director of community relations for National Brewing Company Baltimore he will present an illustrated talk on Chesapeake traditions history food and culture.
MENTIONED IN THIS ARTICLE
Frank Hennessy
Chesapeake Bay
Traveling Cheepers Hatchling Ban Tam Nest On Road
Carl Hanson completing a 1000 mile trip in IOLA Kansas heard a peep under the front seat. He found a bantam hen nesting and hatching babies beneath the seat.
MENTIONED IN THIS ARTICLE
Iola
Kan
Carl Hanson
Girl Escapes Injury After Bicycle Crash With Police Car
A 9 year old girl rode her bicycle into the side of a police car in Honolulu. She escaped injury but received a traffic ticket for unsafe driving. The Juvenile Crime Prevention Division waived the ticket with a warning.
MENTIONED IN THIS ARTICLE
Honolulu
Juvenile Crime Prevention Division
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Frederick County
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Winc
Jerry Goodman
Dave
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Old — Strong Bank
Member
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Building Fund
Tark
Aine
Kern Motor Company
S. Loudoun St
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