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Newspaper
Winchester Evening Star
Location
Winchester, Virginia, United States of America
Date
May 30, 1959
Page
12
Comedian Bud Abbott told newsmen on Thursday he is broke unemployed and deeply in debt to the government. He asked where his money went and said he expects to be in debt until death as he faces Uncle Sam.
Abbott says he cannot clear his government tax arrears despite selling assets including a Ojai ranch and his share of Abbott Costello properties. He compares his situation to Joe Louis, noting penalties and rising interest after IRS audits of seven years of earnings. The piece also notes Costello's death and his widow's claim that taxes were settled.
Virginia treasurer E B Pendleton Jr announced banks holding about 58 million dollars of state time deposits will now pay 2 percent interest starting June 15, up from prior rates. Approximately two thirds of 206 banks have accepted the rate, with 90 day maturities and a uniform withdrawal plan.
The Nautilus and Skate became the first U S atomic submarines to cross beneath the North Pole ice in 1958. Maurice Chevalier born in Paris on Sept 12 1888 enters the record as a French singing star making a comeback in film and stage revues.
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