Indianapolis Times, Indianapolis, Marion County, 1 January 1943 — Page 2
LS PAY CHECKS
"TAKE A NEW CUT
Bb Por Cent on- ALO: Over $12 a Week to Be Paid as Victory ‘Tax for All 1943 Earnings; Part to Be
Refunded After War.
By DICK THORNBURG Times Special Writer
WASHINGTON, Jan. . collector is going to put the before ‘you get it.
1.—Beginning today, the tax | bite on your pay check even|§
The new 5 per cent victory tax now is effective and your
employer will deduct 5 per cent of your salary over $12 a
week and pay it to the treasury. The tax applies to all income in excess of $624 a year
whether you get it by salary, nuities, other compensation for personal services, or net income from Dimsiness or profession. But under certain conditions the treasury will give you a kickback as a post-war credit—25- per cent of
the total victory tax paid in the case of single persons (but not more than $500 post-war credit per year) and 40 per cent in the case of married persons (but not more than $1000), plus 2 per cent for each’ dependent (but not more than $100 per dependent). Those conditions are that you spend a portion of your money for anti-inflation purposes—buying war bonds, paying insurance premiums, paying off a mortgage or paying on a bona-fide debt.
‘Most Pay on Gross Income
In figuring the victory tax no alJowance is made by your employer for interest payments, charitable deductions, etc., as is the case under
wages, dividends, interest, an-
the regular income tax. You can deduct such allowances if incurred in carrying on a trade or business. A person in business can also deduct other regular business expenses such as the cost of goods. sold. A simple way to state it is: The tax applies to gross income in the case of wages and salaries and to net income in the case of a business or professional. man.
Here’s How to Figure It If you choose you may use up your post-war credit before the end of the war by deducting from your
next year’s income tax (the tax that will become payable in March, 1944) whatever your share of the post-war credit is for that year. For example: Suppose you are married and your salary is $2624 a year. The tax applies only to income in excess of $624, so your employer will take out of your regular check 5 per cent of the $2000 balance. At the end of 1943 he will
have takén out $100. But. during
New Year's.
PYonnczaZid
DOWNTOWN STORE
120 East Washington Street
CLOSED SATURDAY JANUARY 2nd
The seven other neighborhood stores, and the wholesale store, will be open as usual on Saturday, the day after
*
® 120 E. Washington @ 38th and Illinois Sts. ,. 42nd and College " ® Broad Ripple, 802 E. 63d ® Irvington, 5609 E. Wash. © East 10th at LaSalle - e Fountain Sq., 1116 Prospect e 2125 W. Washington
MA. 2321 TA. 3321 "HU. 1397 BR. 5464 IR. 2321 CH. 2321 MA. 3976 MA. 1771
ington.
Six U. S. navy fighter planes line up along the edge of the flight deck of an aircraft carrier to test their machine guns, as the warship nears the shores of North Africa. Smeke around the nose of the third fighter from the left shows its guns are in action. This photo has just been released in Wash-
the year you paid $100 in insurance premiums, bought $250 worth of war bonds, paid $100. on a mortgage, a total of $450. You are allowed credit directly against the amount of your victory tax for any such expenditures up to 40 per cent of the tax, so in this case you have $40 post-war credit. You can apply that credit to your 1943 income tax (payable in March, 1944), or wait until the end of the war to collect it, in cash if you want it that way. In order to use your post-war credit against your income tax, the life insurance or mortgage or other debt must have been: incurred before Sept. 1, 1942, (In the case of warebonds that time limitation does not apply.) If you use up all your post-war credit against your taxes, no repayment will be made after the war.
Men in Service Exempt
Your employer does not take cognizance of any bond buying, insurance payments, mortgage or debt payments as you go along. At the end of the year he will send you a form telling you haw much he deducted from your salary. You will enter on this from the money spent on life insurance, mortgages and war bonds, to compute how much post-war credit is due you. The only persons exempt from the victory tax are members of the armed forces, domestic servants, and agricultural labor. The tax will reach an estimated 46,000,000 persons and yield a gross revenue this year of $3,600,000,000. of which $1,100,000,000 will be returned as a post-war credit, leaving a net yield of $2,500,000,000.
STAMPS REPLACING FOOTBALL CORSAGES
SEATTLE (U. P.).—Big yellow chrysanthemums — the traditional football corsage — are out for the duration at the University of Washington. Co-eds have banned the flowers and instead have adopted lapel gadgets made of wire and
ribbon and--war stamps.
Standard Life of
GAINS FOR 1942
Insurance In Force
5% GAIN in Size or. . . .
250%
5% GAIN in Assets or . . .
| T% uni sups ve
*
Indiana
1942 — $21,827,573 1941 —
16,147,000 $5,680,573
Insurance Paid For
1942 — $7,147,676
1941 —
GREATER Sales
1942 1941 —
@ 12 Jo GAIN in Paid-in Capital or :
1942 1941
1942 — 1941 —
'2,853,0! 58 "$4,294,618
$1,242,446 957,160
$285,286 $150,699 128, 375 $22,324 $341,217 _ 303815 $37, 402
In edition the Company experienced the lowest lapse rate in its entire history.
FINANCIAL STATEMENT=DECEMBER 31, 1942
Assets . First mortgage real estate loans. vu we
Bonds—amortized cost...., umm = Preferred stocks (market value). wm
) Invested shares of federally insured Rs ‘savings and loan associations. . .
3 Policy 10ans. .. sm on co cu 1m vm oc om “¥" Cath in bank and ou hand... ,. . oven : Net premiums deferred and uncol-
Neotel con ei evpss sos inasaesnen ms
Accrued interest receivable. .: mm ou : Total Admitted Assets. mmm!
Liabilities al reserve for policyholders. . claims—
$409,650.46 477,999.45 85,337.50
P
Reserve for taxes. Premiums
60,000.00 13,033.47 103,805.03 Dod hams + 83,016.10 9,604.35 "$1,242,446.36
tality & fluctua
Reserve for policy dividends and ma. endowment insurance coupans.
in advance. ...:.. «| oe ST, eld in Total Liabilities. van ir} ‘Additional funds for protection of policyholders. Gapital paid wp... oes
serve for war mor.
arty yooh Total. o.a%e aT ol 0 0.936 sia 0.0 8.0 o/2} $1,242,446.36
3
$637,446.00 8,485.60
10,701.10 12,895.36 43,166.11 31,835.77
$750,529.94
ve (TES
not complete. |
sess ene essen saiioe
“e080 els oT 670 iTe 03 _
* $341,217, % (Re-
20,699.42 | 491,916.42
STANDARD LIFE INSURANCE co.
Harry V. Wade, Vice-President and General Manager
J. Raymond Schutz, President; E.J 3. Barker, Treasurers J, W. Canaday, ‘syne Ladd, Frank
‘J. W. Cherry, Vice-Presi Charles F. Gerber,
OF INDIANA
Meiks, Otto M, M
Indianapolis; Indiana
President; Harry V. Wade, 18 Vice-Prsidens and General Managers Medical Director; Edward
NORTHFIELD, Minn, Jan. 1 (U.
troop 13 thought they should learn commando style fighting “in case our country needs it some day.” Ten of them formed the Notthfield junior commandos, but they found that they didn’t know just how to go about training themselves. So Carl Campbell, 12, decided to ask for—at least’ some “minor information” from the most authoritative source he knew—Lord Louis Mountbatten, leader of the British commandos and cousin of King George VI. He addressed this letter to Lord Mountbatten:
A TRANSPORT IS A ‘WORK HORSE’
British Call Them Greatest U. S. Contribution to
African Drive.
By PHIL AULT United Press Staff Correspondent AN ALLIED AIR FIELD. TU-
NISIAN FRONT, Dec. 28 (Delayed). —Scudding across the sky beneath low hanging clouds, nine American transport planes splashed down on the muddy runway and taxied in close formation to the dispersal area. A major stood on the runway, like a traffic policeman directing the parking. Trucks and jeeps rolled alongside the transports, which have been painted a drab brown. Scores of men began unloading anti-aircraft equipment flown hundreds of miles from the rear areas. Half an hour after the transports landed, they took off, circled the field and headed back to the rear supply bases for another load. An RAF officer watching the performance said to me: “Those transport planes are real work horses. They are one of the greatest American contributions to this campaign.” The British call them Dakotas and are slightly .confused by the mixed - American usage which calls them DC-3 (the commercial designation) and C-47s (the military designation). The transports speed in large formations, day after day, along valleys and over mountains hauling food, munitions, and supplies to front line troops. The pilots land on muddy fields and do taxi service for high officers carrying dispatches. I made a trip from Oran to Algiers in a formation of transports which flew so low over the barren land that I seemed to be riding in a swift railroad car.
Flies Mediterranean
- Another time I flew over the Mediterranean - in a transport at low level, getting the sensation of flashing through water in a speedboat that didn’t rock. The transport crews often live in the planes, even on barren forward fields, and carry their bedding in boxes. “On the walls of one plane I saw magazine pictures of scantily clad girls, and two fishing rods
hanging on hooks.
RAF and British army officers are
| impressed by the informality of the
American air force and particularly
that of the transport crews.
One British officer was shocked when he heard an American correspondent address Maj. Gen. James
as “Jimmy.” Transport pilots become weary of their prosaic freight train runs, and they always are willing to pick up military passengers just for a change. Airplane hitch-hiking has become a popular travel method in the Tunisian campaign. - Officers drop in at air fields seeking transportation to some place 200 or 300 miles away and are told “just sit down on a gasoline tin, wait until the plane’ comes along, and climb in.”
J. Stein, Sapctary; X. M. Bost, lr. M. Ri,
P.).—Some of the Boy Scouts in
H. Doolittle, air force commander,
Junior Commandos Get Advice From Mountbatten
“I am the: assistant leader of a club called the Commandos Jr. of Northfield, Minn,, U, S. A. We are just a group of boys who are training to learn the commando type of battle in case our country needs it some day. . . “I'm writing to ask you if it is possible for you to send the club any information. on - commando fighting. . But if you believe it might go into enemy hands and you wouldn’t dare send it, please let me know.” Yesterday Carl received a reply “I was very pleased to get your letter,” Lord Mountbatten wrote. “Of the many somewhat similar letters I receive, your letter impressed me as being symbolic of the spirit of both American and British youth which insures victory for our countries. . ., , “I am attaching notes . . . made for you by my vice chief of combined operations, Maj. Gen. J. C. Haydon, . . , just before he flew to Gibraltar to join Gen. Eisenhower in the great North African operation. “I am sending you also a set of rules from that fine American soldier, Maj. Robert Rogers, who com= manded the renowned Rogers Rangers many years ago in your history. His regulations were drawn up in the days of Indian warfare in America, but many of them are applicable today.” Carl was jubilant. He said the junior commandos - were going to tackle the five pages of instructions right away, studying “night work, concealment, unarmed combat ‘and self-reliance. »
| WASHINGTON, Dec.
Outbreak of Smallp: East Proves Need (' Precautions.
By JANE STAFFOR!: Science Service Medical Viriiv -'The question ‘of how far the :1: llpox outbreak reported from a 7: nsylvania. farming district wil! : iread can be answered as follows: =; will not spread to persons who lave
smallpox. Unvaccinatéd who have come in contac smallpox patients are in’ dan: ar of getting the disease, because « y¢ry=one is susceptible to it unless | < has has had an attack or been accinated. Most people think of smal xi as a skin disease, but actually it tarts and spreads like influenza. The disease is caused by a virus hich invades the body through the nose and throat and ‘during th: figst two days, before the skin ras . appears, the patient has fever : nd a generally ill feeling suggest: 3 an attack of grippe or ‘flu.
Spread Through Air
The virus of the disease iz : read through nose and throat disct ges from the patient as well as t1 Jugh material from the skin spot. after these appear. Crowding fave: . the spread of smallpox, as it cece the spread of influenza or otlier cliseases transmitted by nose and throat discharges. Unlike ‘inf 1 12a, however, it develops very cu-ckly, the incubation period for sn: Ipox is eight to 10 or 16 days, so that unprotected persons are not of danger until at least 16 da;: following exposure to a smallpc: patient. Parents of the small childr: . reported to have caught small) % in the Pennsylvania outbreak cvi ently did not follow President 13 wsevelt’s advice when, in procl:: ning May day as child health di for 1942, he urged that all cri dren over nine months of age he vaccinated against smallpox befor the first of May, 1942. Doctor; and health officers for years ave urged that all babies be vacc1 aled against this dangerous, disfi;y ring disease before they are one year old. A single vaccination in inf mey, however, does not guarante: full protection against smallpox fc1 life. The vaccination should be r: eated on entering school and at i .tervals during later life.
THIS IS WAR! MAN HEADS P.-T. A.
CARMEL, Cal. (U~P.).—Ca mel, always different, has come orth again. With women taking over many jobs formerly held by en, Carmel residents elected a ma, E. M. Seifert, as president of th: par-
1) Uions with
ent-teacher association.
JACLINATION OF
been successfully vaccinated : ninst|
Thomas D. Stevenson a 8 8
R. F. Davidson
“Re F. Davids
& 2 = a} Succeeded by
Atty. Thomas D. Stevensc
Thomas D. Stevenson, who for the past year has been counsel for the Indiana Bell Telephone Co., today was named general counsel, suc-
SALE OF RADIO CHAIN OPPOSED
FCC Members Alarmed by Tire Company Move;
Fear Precedent.
WASHINGTON, Jan. 1 (U. P.)— Two federal communications commissioners viewed with alarm today
the entrance of “big business” into the radio broadcasting field. The question of whether control of radio stations by big business was in the public interest was raised by Commissioners Paul A. Walker and C. J. Durr when they disséitted from approval—without hearing—of the transfer of ownership of the Yankee Network, Inc. Boston, to General Tire & Rubber Co., Akron, by John Shepard III and George R. Blodgett, trustees. |: The transaction was approved by FCC.
Cites Competitive Factor
No majority opinion in the case was written. Arguing that a public hearing should have be¢en held to determine whether the transfer would. be in the public interest, Walker said in his dissent: “Broadcasting is of such public interest and importance that an effort should be made to keep it separate from other businesses. If a transfer of chain broadcasting interests . . .. may be granted to a tire and rubber company, may|: it not likewise be granted to a motor company or tp a public
utility 2?”
ceeding R. FP. Davidsonj who' is tiring from active service.
Mr. Stevenson was bojr nin Rising. Sun, Ind, and later {his family moved to Racine, Wisj where he attended the Racine Cqliege grams mar school, and later th i of Wisconsin. He gradus 7 the Indiana Law school fir immediately started law Indianapolis. In 1915 he became dep cutor of Marion county years later was appoin torney for. Indianapolis In mide 1918, Mr. Stevenson commise sioned a captain in the judge advo. cate general's department of the army and served as judge advocate at the port of embarkation, Hobos ken, N. J, until June, 1919. He returned to Indianapolis after the war and completed his term as city attorney.
Headed Bar Associa ition
Mr. Stevenson has been associated with the law firms of Miller, Daily and Thompson; Thompson, Rabb and Stevenson, and reeently the partnership = of Stevenson - and Chambers. Since Jan. 1, 1042, he has been counsel for the Indiana Bell. Mr. Stevenson for many years has been one of the leading attor= neys in Indianapolis and was presie dent of the Indianapolis bar assoe ciation in 1938. He is 1 a meme ber of the col titi on fllegal practices of law 81 of that association. | = = Mr. Davidson, the reti counsel, has practiced 1 aw anapolis since 1896. C
ty proses and three: id city ate
Gilliom and Pickens. He associated with the legal depart= ment of the Indiana Bell and its predecessor, the Central Union Telephone Co., since 1914, hE He is a member of the Indians apolis, the Indiana and the Amenls can bar associations. Su: VES
By
—OR Y'ILL
20° ve ARS
one of us to do our jobs in 1943. - which production must reach“
world. So that peace, freedom ani children. We must buy war bonds nv, fight new, produ it will be: a happy, victorious New '( or. ;
J Millions of youngst: =: like this one are appealing to us—to every "is isthe crucial year. This is the year during meo sible” figures. This is the year during which the might of the United ‘Nations m. © be felt in every corner of this war-torn rolerance will be the inheritance of our ) now—in 1943,
OF SQUARE DEALING
NOW SERVING THE SECOND GENERATION
a ——
IT WILL BE MY AMERICA
Coat
Thus,
£4
ILLINOIS
rs n