Decatur Daily Democrat, Volume 52, Number 195, Decatur, Adams County, 19 August 1954 — Page 6

PAGE SIX

Important Provisions Os Tax Law Explained

(Editor'* note: "What th* new tax law means to you,” The new tax law, passed by oontNMte and signed by President Elsenhower, will mean a saving of some 110,000,000 a year for more than <1,500,000 persons buying articles on installment plans. It also contains more liberal provision* on such things as bod debts and loeeea from theft.) By THOMAS J. FOLEY WASHINGTON (INS) —Many taxpayers will .be helped by chaag. ea in the new revenue law covering deductions for interest paid on in-

MASONIC Craft Club CORN ROAST Hanna Nuttman Park FRIDAY, AUG. 20 At 6:30 p.m. Bring Your Own Table Service Ray Stingely W. M.

aST \— (tTa f Send’em hack ed to sc h°°l * n shoes that FlT...really FIT Days Jamboree The most complete selection of children’s shoes in America. Scientifically if** x. fitted by our 6-Point Fitting Plan. / Buster Browns are perfect school shoes. They’ll wear -• an d wear > ar >d come up shining. And you can’t buy them unless they fit.. . really fit. Three generations of I youngsters have grown up in Buster Browns, America’s favorite children’s shoes. Bring your youngsters "rs __ X — — -y ... . . . , .... j. ■ .. .. . u,' ,-Jl — _ _ ' ■ • ' Infants oto 6 (b-e> _ $2.50 - $4.50 Misses to 3 (a-d> $6.95 - $7.50 Small Children 6>/ 2 to 8 (B-E) 14.95 > $5.50 Growing Girls 4to 10 (aaa-d> $7.95 - $8.95 Children sy, to 12 (a-d> $6.50 - $6.95 Boys Ito 6 (a-dj $7.95 - $8.95 FREE BUSTER BROWN COMIC BOOK NUMBER 36 - ' ’ n • * • • » '•«>-•» * _-3 SHOB DECATUR ♦ BLUFFTON

aiallment purchases, ibad debts, theft and other items. None of the charges will affect you unless you forego use of the standard 10 per cent deduction and, instead, list the deductible Hems. If you have heavy medical bills or are paying big interest charges while .buying a house, chances are you will list the deductions. About <10,000,000 will be saved this year because of the change in credit for carrying charges. The government thinks about 1,000.000 persons will benefit. The old law allowed you to deduct interest paid on installment purchases, only if the interest was listed on the invoice separate from the cost of the actual product, whether it was a washing machine, diamond ring or automobile. (However, now you can deduct for interest on all credit purchases. When the interest is not listed, you can deduct six per cent of the average unpaid balance due under the installment contract during the year. That means you should add the amounts you still owed each month during the year after making the regular payment. Don’t add the amount you paid, but the amounts you still owed. Let's say they add up to |«4B. or |W.®«. Up to now, you could deduct all of the money owed you from your

income, if the bad debt* were connected with the bustness you were in when you made the deduction. If they weren’t but were from a previous enterprise, you had to deduct them ifrom capital gains, ■which didn't help you as? much. The new law says these uru'ollectible debts can be deducted from your income even if you have since gone out of the business you were in when they were acqtfired. The old law said you could not deduct for theft losses except in the year the loss actually occurred. However, embexxlement and other similar losses often are not turned up until later years. The new law allows you to deduct for any theft in the year you discover the loss, but only in that year. Tn the past, regulations allowed you to deduct costs connected with contesting some kind of tax cases but not others. The new law includes those previously not allowed, notably gift tax cases. (Next: More deductions for charity allowed.) FIVE NATIONS (C.Btl.MrS From Page O»e) respect to the existing treaty. One of the ministers attending the opening session in which each top minister was restricted to one aide said no progress was made despite an impassioned appeal by Mendes-France. The French leader who negotiI ated the Indo-Chinese settlement at Geneva asked the others to beI lieve his sincerity in wanting to r gain ratification of EDC.

TTTF DTCCATTTR DMVF DEMOCRAT. r>3CATTHI. INDIANA

.ww*. H Wjjww * '•X*-- > am Jbi ■ FORMER PRESIDENT Harry S. Truman Is shown with Adlai E. Stevenson (left), 1952 Democratic nominee for the Presidency, and Stephen A. Mitchell (right), chairman of the National Democratic Committee, after a conference in Independence, Mo Later, Truman advised party leaders at a fund raising dinner in Kansas City that they could capture control of Congress tn November if they equal the Republicans in ability to raise money for the campaign. He also said that he would "campaign actively” for the •n the Convreasinnsl drives this fall “as far as mv health nermits " f Intemntinnnl .Soundnhotn >

Mendes-France insisted that his proposal would not jeopardise the supranational aspects of the treaty nor prevent its long-range goal of European unity. He said his pro* posals simply were a realistic attempt to gain Paris assembly ratification. If you have something to sell or rooms for rent, try a Democrat Want Ad. It brings results.

R\ JIMMY STIER, above, and his eight piece orchestra will play for dancing Wednesday from 9 p.m. to midnight at Sunset park at the polio benefit cabaret dance. Fund drive officiate hope to raise 11,800. Adams county’s quota in Che national emergency fund drive. Lyle Mallonee and Mike Pryor are emergency fund chairmen and Ben Webster is dance chairman. Two Cars And Rig Involved In Wreck Driver Is Arrested On Traffic Charge Two automobiles andean Amish rig were involved in an accident Wednesday at about 4 p.m. on U. S. highway 27 two miles north of Berne. •. c <onr*nt, who was driving one of the cars, attempted to pass the northbound Amish rig driven by Tobe Swartzentruber, 18, of route two, Berne. Davison collided almost headon with a southbound car driven by Mary Fennig, 42, of 210 South Eighth St., who swerved toward the ditch but was unable to avoid the Impact. Damage to the three vehicles amounted to almost $1,500 but no one was injured. Deputy sheriff Merle Affolder and state trooper Walter Schindler investigated. Davison was arrested on a charge of driving on the wrong side of the road. He will appear in justice of the peace court at Berne Saturday at 10 a.m. Coffee Prices Cut In A & P Stores INDIANAPOLIS (INS) —Coffee prices were ten cents a pound lower in more than fifty Great Atlantic & Pacific Tea company stores in central Indiana today.. The mark-down in coffee prices follows a precedent set five weeks ago when the Hoosier Phoenix Coffee company, a supplier for independent stores, announced a 16 cents a pound cut. ’ & I i Bp® -i** bd' 1 * ' f / I* FORMER "SINGING COWBOY" Senator Glen Taylor (above) squeezed through to a comeback, nomination in Idaho’s Democratic primary. He’ll oppose incumbent Senator Henry C. Dworshak, an easy GOP winner, in fall. (International) Use The Daily Democrat Want Ads 'T '

Insurance Agents Attend Convention Alma Thieme, 526 Studebaker street, Robert A. Schmitz,, 216 Water street, and -Lester K. Sipe of Berne, sales leaders of the Midwestern United Life Insurance company attended the company's annual leaders convention at Bedford Springs Hotel, Bedford, Pa. last week. Sipe, general agent in this area and one of the company’s ten leading salesmen for the year to date, received special recognition from president Phil J. Schwanz at the annual leaders banquet, the highlight of the convention.

Carl Learned About Women From Her I! Look behind every great man in history and what'll you find? A woman who inspired him! Look behind Carl Gerber and who do you find? Right. Mrs. Gerber. BK&M£ m1 Carl learned all about women from her. She keeps after him to keep everything spic-and-span / because she knows women like to shop where it’s spotlessly - aRSL ?J clean . . . and when she told him that women like courteous > service and quality foods, Carl believed her and stocks T V Jv nothing but the best and sees that you get the sunniest service in Decatur. / No wonder then that Carl gets more compliments on his store than Clark Gable gets mash notes . . . Carl knows X-iuBDl what women go for . . . thanks to Mrs. Gerber! WS&J |- —— 4-H CLUB BEEF — CHUCK ROAST lb. 39c FRESHLY BOILING BEEF ...... lb. 19c GROUND BEEF 3 lbs. SI.OO RIB STEAKS lb. 69c STEER LIVER lb. 39c HOME MADE CORNED BEEF . . . lb. 49c FRESH DRESSED PORK —— PORK NECK RIBS ...... lb. 15c WHOLE FRESH HAMS .. lb. 59c l-oin and Shoulder PORK ROASTS lb. 45c y 2 GALLON BORDEN’S ICE CREAM . . 69c r- NATIVE DRESSED VEAL Veal Chops lb. 69c Veal Roast lb. 49c Veal Stew or Pocket Roast.... lb. 23c Home Made Tenderized BEEF BACON ... lb. SSc PICNIC HAMS .. lb. 43c COFFEE. Folgers—Chase & Sanborn $1.19 Monarch — Maxwell House lb * * SWIFT'PREMIUM LAMB Leg — Shoulder — Chops — Stew Gerber’s 150 S. Second St. Phone 3-2712

Former Prisoners To Gain Payments Senate Passes Bill < To Grant Payments -wwv-A XMUA. • \\ ,\S iIIIN vi I \F*N fIIN o 7 than 3,000 American civilians and seamen'held prisoners, by the Axis during World War 11 will get payment for their Imprisonment under a bill now awaiting President iEisenhower's signature. The -measure, approved Wednesday >by the senate and sent to the White House, is intended to provide compensation for a number of persons -who were excluded under previous tews. .More than 3,000 U. S., civilians and seamen captured by the Japanese and Germane in World War Il would be entitled to payment under the bill, along with persons who have requested medical and disability payments because of prison camp mistreatment. The measure also authorizes payments to American nationals and banks for credit seized by the Japanese in the Philippines. . ■ ~7.> Man Fined Here For Public Intoxication John W. Brewster, of Geneva, was fined $5 and costs for public intoxication by Mayor John Doan this morning. Brewster was arrested last night in front of the bus station by the ctty police. Donald E. iMarkley, of Fort Wayne, will appear before justice of the peace Floyd Hunter Friday to face charges of speeding 55 miles an hour in a 30 mite an hour zone on North 13th street Sunday evening at 7:20 ,p. m. The charge was filed by state police.

tttttrsdat. august 19, u»m.

Two Minor Mishaps Reported By Police An accident Involving two automobile u-t the iMercer avenue crossing of the Erie railroad caused an estimated S9O damage at 1 p. m. Wednesday, the city police reported. Otto F. Koeneman, of 124 E. Grant, attempted to pass a Car driven by Roger D. Cookson, of 620 Grant, which was stopped at the railroad. Just a»-the Koeneman car started to turn into Oak street, the Cooksoir vehicle started around the gates, striking the rear of the Koeneman auto. L At noon yesterday two ears collided at Second and iM on roe, causing minor damage, Ervin L. Ross, of 930 Winchester street, -was back, ing into a parking place, when Albert W. Brush-wilier attempted to pass the parking vehicfe, and was crowded into the Ross auto by oncoming traffic. Damage was estimated at sls to each vehicle hy the city police, ■" ." ■■■, Democrat Want Ada Bring Result*

Now Is The Time For SPAGHETTI EVERY Friday & Saturday NIGHTS Spaghetti Sauce Made by “Mike” Hob Nob RESTAURANT