Decatur Daily Democrat, Volume 53, Number 11, Decatur, Adams County, 14 January 1955 — Page 2

PAGE TWO

MAKE YOUR BATHROOM MORE COMFORTABLE and more W 3 Valuable! lOaugksM NO MONEY DOWN -10 YEARS TO PAY 495 - PER WEEK HAUGKS oao XT HEATING—PLUMBING APPLIANCES 209 N. 13th Open Evenings

GOODYEAR GOODYEAR GOODYEAR GOOODYEAR GOODYEAR | Mr. Farmer 1 I * 50% off I | ’EM ' s § the price of new Tractor Tires § j RE-LUG - SAVE j 0 —- -■ —‘I"• ■ I —" '■ I | £3Ofcto COSTS LESS COSTS LESS 5 § %WMikWHEN YOU WHEN YOU § 8 p10w.... § I § ~* ★ USE OUR * ★ g M CREDIT PLAN | g , - ★ WE CARRY OWN * a Si *’ - ACCOUNTS « |*l WEEK * *™« TT “ § o TERMS O * Monthly Payments t amx mawv rmmsmi 2 Available ★ MONEY DOWN S down ★ MO COSIGNERS M •>*^ W DELIVERS ___ ■ —_ VM - ' I I SERVICE STORE fl ' 1 121 N * 2nd st Decatur, Ind. 1 GOODYEAR GOODYEAR** GOODYEAR GOOODYEAR GOODYEAR

New Income Tax Law, How It Affects Payer

(Editor'i! note: This is the tenth article of a series giving you helpful hints on how to figure your 19M federal income tax under the new law passed by congress last ya*r. The deadlins for »»yi«g those taxes Is April 15.) By FELIX COTTEN WASHINGTON (INS) — If )n 1954 you received an annuity or nongovernment pension, the new tax law gives you advantages not granted previously. In fact, the law overhauled the provisions applying to annuities. The result to that annuities are more attractive than before, and in many cases afford opportunities for saving money. What is said on this subject does not apply to federal or state social security payments, or to railroad retirement benefits. They are not taxable anyway. — There was an old rule that three percent of the original cost of your annuity was taxable each year, and that the rest of your yearly annuity paymenu remained tax-free until you recovered your original cost tax-free. This has been repealed by the now tow. and two new methods of dealing with annuities and private pensions have been set up. The result to that, in some eases, the taxpayer can recover tax-free more than the original cost of the annuity. Previously, he was frequently unable to Recover his coat tax-free during his lifetime. Eton new method Rpultoa only to employes' annuities where part of the original cost was put up by the employer and the annual payments are such that the employe's portion of the cost will be returned to him in three years. In such cases, the law provides a simple rule that you are not taxed on any of your annuity J»yments until your part of the cost to returned tax-free. Your part saeeans the amount that yeu had

THB DSCkWe tiAlfif INDIANA

to pay in premiums toward the annuity. It inetodsa any tions by your employers on which you were taxable, but it does not Include interest on your premiums. After what you put in cornea back to you tax-free in annuity payments, from that time on the payments are taxable like any other income. Os course, in determining what you still have coming tax-free, you must deduct from your coat what you were allowed tax-free under the old law. If you did not contribute to an annuity, and were not taxed on VftiH* ftMevtlAMAe's onn4ell»4lift»e *l»« juur einipivyvvntrrtnitivnn, me entire amount of your annuity payments must bo Included in income on which tax to paid. The second new method applies tp employe pensions where the employes' part of the cost is not returned to him in three years, to amounts paid for a reason other than the death of the insured under annuity, endowment and life insurance plans, and to sums paid to beneficiaries under certain conditions. The rule here is that you multiply the cost or remaining cost to you of the aaauity by your annual annuity payment and divide the result by your total expected return from the annuity over the years. This amount can be excluded in reporting your income, and you pay a tax on the rest of your payment. Often, there will be no taxable portion left over. At other times, the taxable part may be one-fourth of your payment or lean. Congress On Notice- - United Front Sober Warning By Secretary Dulles WASHINGTON (INS) -r- Coogress was on notice today that the Eisenhower administration wants no country to M go by default" under Communist control for lack of full-fledged American help. Secretary of state John Foster Dulles coupled that word with a sober warning to the senate foreign relations committee that there are “many places'’ the free world could lose if this country does not present a "united front'*. One senator said Dulles voiced guarded optimism about conditions in South Vietnam because the new government there is finally beginning to win some popular support. . _ . -,j He was more optimistic about Western Europe, forecasting that French ratification of the Paris agreements for arming West Germany should be achieved late this month or by mid-February. with German approval to coincide or follow. Sen. Wayne Morse (Ind.-Ore.), said he found the report “very reassuring. " /L .jj The secretary urged the senate to speedily approve the Southeast Asia Mutual Defense Treaty, signed at Manila last fall by eight countries. They are Australia. Franbe, New Zealand, Pakistan, the '• PMlippiwes;- Thattaed. the United Kingdom and the U.S. Dulles called anew for cooperation between the State department and congress because “the daa-j gers this country face are very real.'' He added: ‘There are many’ places where the margin of security is very thin and might be lost if we do not present a united front.'' Revival Services To Close Sunday Revival services at the Antioch church will close Sunday evening. As a epecial fealure Saturday at 1:30 p. m.. Rev. Beck win show pictures he took in Sweden and tell of what is happening in "the other' World.” The public is invited.

« « K Township ~ | 152§.7«> * 3711.91 $ 3302.31 I 19M D °« __2l!± 7«ffi Ui-H 750* TOTALS 330J..79.* **73.9* 3*09131 } 261*.31 Sour<e nF TA,b ° F HKCKiri Am« 11 hf L'% K » r *v-W. P«mtnMter .. M. 26 “' • r~-w >—■ f.7 s? may£& - la Kip&s;;—tlrf;*? «“ :::= : : jt.S Justice of P«Mve Dock Fee 185.00 Ben Kiting 25.00 Total Township Fund ....» 37119* 11.00 P.°S J“’ from Sweater 1 710.00 Harvey Haggard '. 2 «.OO I'og Tax from Co. Trea.s. 200 Frank Mother 2o 00 —.. rv «, ”2 —Ft re HrotectTon Total » ,6 - 00 Uecatur Insurance Ag *1.35 MutceHnneoua ■ Gros. " PIH^UnT" 1 ’ ** lt« To Whom Paid Amount Suttles Co * ~' I'fjn Pay of Trustee. Office Bent futties w■ v _. U.K) “iTuitn ’ | 1850.00 TqUl TwP ’ T'" l ' l •»“*• » »'«« Della M. HeVoss 120.00 , Dog FuM ~ N’ellla Coppess ;500.AC CUsxlficatiqn of Expcnse and Gross Traveling Expense, Telephone .To Whom Paid Tolls, and Telegraph* Kurplua W. L. tlnn 350.00 Adams Co. Treasurer 1 *11.75 Supplies for Justice of Peace o Claims S. K. Merriman & Co. 5,75 CHftton Hart 31.35 Books. Siattonery, Printing Eddie McFarland 55.50 and Advertising Dekner H. Van Horn *3.25 Aumann Electric 3.35 Earry Visard 11.00 Berne Witness Co. , *l.l* Harold Worthman 25.20 Commercial Print Shop . *O7 . Boeatur Democrat Cor *l.l* Total Dog Fund Wsb. ... * 788.1*5 1 hereVy certify that the foregoing U a true and correct statement of the receipts and disbursements of the abov.e named township; that a complete an.) detailed annnal report together with tril accompanying vouchers shoving the names of persons having been paid money bv the township has been filed as required by law in the oWlee of tihe Countv Auditor, and tluyt a copy <rf such annual report is ip custody of the ehair'i ^ t 10 ■

Attempted Red Island Attack Is Broken Up China Nationalists Report Attempt On Islands Repulsed TAIPEH (INS) — Chin*** Nationalist military sources reported NatioaaSM bombsrs broke up an attempted Chinese Communist assault on the Taclnpn islands early today, settlag fire to aaveral Bed ships. ' . ' ■ ; The Conudunist ships la two groups, were attached four Wiles I west of the Tacheas and fifteen wiles north of the Islands wM*h guard the northers invasion approaches to Formosa, some 200 miles to the south. Taipeh sources also said seaborne Nationalist guerillas intercepted a Communist “junk fleet'' of twelve vessels thirty miles south cd the main Tadhen island Thursday night and sank a convoying Red gunboat and damaged another. The twelve junks were also reported captured and 114 Communists taken prisoner. The junk fleet was reported moving south from the Tbtdwn area. In other action, early this morning. Nationalist bombers Hasted Red gun positions c* Tienao island, fifteen miles north «f Taehen. for the fourth straight day. Returning pilots paid they saw some of th* artillery positions burst into flame*. The apparent seaborne mot* against the Tachens was carried out by a total of twenty-one Communist ships. The force moving in from th* north wm mad* up of fifteen vessels and the squadron menacing the Nationalist-held islands from the wm*u composed ot stg vessels. Th* Nationalist Pilots reported upon their return: “Sever*) enemy ships burst out Into flames after our atucg." HAMMARSKJOtD (CoaUnue* oa Page Ftva) ite link” between, improvement of relations between the U.S. and Red China and settlement of the prisoner dispute. Asked whether he had failed or succeeded I* Ms efforts to win release of the flyers, Hammarakjold replied, smilingly. It' depends «a what you mean by success. “If you mean that 1 had them in the plane with me on my roturn, it was not a success. . “It you mean achieving what I hoped to achieve, they were sucHammarskjold went to Peiping to confer with Chou after the UN assembly instructed him to seek release of 11 American airmen jailed as “spies” and other UN personnel held in violation of the Korean truce. U. S' Ambassador Henry Cabot Lodge Jr., talked with Hammajskjold after ihe,UN chief reteurned to New York night and was optimistic over the secretary general's report on his efforts in Peking. Lodge, who was expected to discuss the situation is Waahiugtap today with secretary of state John Foster Dulles, said: ”... We will study with close attention who Mr. Hamm*rakjold said. “There is, naturally, disappointment that the immediate release of the fliers was not effectuated, but I am confident that progress has been made and that our fliers Will be free. “Assuredly we will not — and must not—cease our efforts until they are The situation is delicate. We must have both patience and determination.”

Jubsrg Will Spsok To Young Democrats Ed Jaberg, eounty clerk, will b* guest speaker at a meeting of Adams county Young Democrats Wednesday at 8 p.m. at the home of Miss Rosemary Spangler, f Jaberg's talk will b* th* first of a series describing the duties and qualifications Os the various coungy office*. A secia) bm»r wfll follow Ms -diecesaloe .and refreehments will be served. All members of the club ar* urged to attend and are invited to bring guests. Art Muselman of Berne, president pt the club, will be in charge of the meetingSoviet Russia To Offer Data On Atom Power Offers Knowledge from Operation Os Atomic Stations MOSCOW HNS) — The Russian government announced today it will offer to the world the knowledge gained from atomic : power stations which went into operatien last July. The Soviet gevarumeat told * conference of foreign correspondents that it was wady to give to the United Nations atomic energy commtitM the scientific and technical experience gained In th* operation of atomic power stations. D. V. Skobeltsyn, a member of the Soviet academy of sciences, will repraaent thd Soviet Union at a conference of th* UN committee. L- F. Ilyichev, head of th* foreign ministry's press department, told th* correapendeata that th* Soviets were making the inform*tkm available ip the interests of th* peaceful utilisation of atomic energy and to contribute to th* development of international cooperation in this field. It was recalled that last Jun* 10 the Moscow radio announced that the first Soviet atomic electric power station was in operation. Holiness Association Will Meet Sunday The January meeting of th* Adams county holiness associgjfo* is scheduled for next Sunday aJteruoon gt 2 o'clock at Pleasant Valley Wesleyan Methodist church, two miles east and a mile smith of Monroe. The Rev. Paul Agar, pastor of the Portland Wesleyan MetbadlM church. *lll he tb* principal speaker and there will he special music. The Rev. CL R- Shaw, vicepresident of the holiness association. will preside at the monthly meeting. If you bgv* rampthing to sen m rooms for r*pt, tty a Democrat Want Ag. I< brings results.

We re in a New Idea | trade-in I mood* | WB Oran by f«r « "tweet” deal on a |||| famous Mow idea Sprooder. tr laab at the choices you havo>-' j /fl 45 ba. spreader on 20" wheel*. /«JL ». /// WHh or without 7.50-2 O rubber tiro.. 75 bu. spreader' Aw tractor er i foam. W wheels interchoagoable ] Ml with Now Idea one-row corn picker. -» Rubber tire* or steel wheal*. With or {(jv V pp»—--it—-without tiro*. —tl•if 120 ba. FfO spreader. 4 *;/. ’ ' / ' *pr«oding *peed* for each forward gear of your tractor. Steel flare* and Mo*t fomou* and popular (Dreader in the front endgate. Raddle* can be re- -th. 90 bu. N. K W S ' 1 interchangeable with New Idea corn ro»t of dntributor. pick.,. With or without tiro*. KLENKS ; ...... . .».-■ Wife

TAX SERVICE FEDERAL and GROSS W* will appreciate th* opportunity of assist!no'you In filing yeur returns for the year of 18*4. PHONE *r BEE U 8 FOR APPOINTMENT L. A. COWENS & SON Court St. Phone J-Wl Decatur, Ind.

For Sale.„New DODGE&PLYMOUTHS Me* MnNm 0a Head of* Colof ft E(|iii|HMnt NEW CAR TRADE-INS 19D4 DOME Moyal Club Coup* V-S fully equipped; automatic tranHnWen; radio; heater; Z-tooe paint. 1953 MMI 4-door V-D radio; heater; overdrive. Wa mH thia ear new. > IMS PLYMOUTH Hardtop Sharp! Low mileage; one owner; local ear. A beauty! 1953 DODGE 6-CyUndors, 4-doer Ready to go. Priced right al _ $1,1900. 1953 PLYMOUTH Chib Coupe One owner. Local car. Only IMSS39 1952 DTUDEBKER V-8 One owner; low mileage; radio; heater; overdrive. -—lO1951 CHEVROLET Hardtop 19*1 MERCURY Mr. ; New Car Trades. - -- . YOUR SjWfIW.OO CHOICESEVERAL NICE 1»4» & 1950 MODELS TO CHOOSE FROM. EASY TERMS! > - BEERY MOTOR SALES OPEN EVENINGS WE FINANCE

WdAY January u. nil