Capital journal. (Salem, Or.) 1919-1980, January 03, 1957, Image 15

Capital journal., January 03, 1957, Page 15, Image 15

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Newspaper Page Text1 Page 4 Section 2 THE CAPITAL JOURNAL Salem, Oregon, Thursday, January 3, 1957 1 1 : i BUSINESS MIRROR Industry Has Considerable at Stake in New Congress Meet Bj SAM DAWSON NEW YORK OB Businessmen will have considerable at stake in the new Congress starting work tcday everything from atomic energy to tight money and from taxes to tariffs. Plenty of fights are brewing al ready over such disputed issues as foreign aid and legislation on mergers matters of first im portance to many industries. Some of the battles will be over matters left unsettled by the old Congress. Some will be heightened by the events this fall in the Mid dle East and Eastern Europe. In most of the perennial ques tions business looks for the final decisions to be along the lines laid out in the last Congress, sine there is little change in makeup a Republican administration work ing with a fairly conservative co alition in the Congress. Hopes for tax cuts for business seem dim as Congress convenes. The 52 per cent tax on corporate Income is due to drop to 47 per cent April 1. Increases in excise tax rates voted during the Korean War are also due to expire on that day. But In both cases the chances now eem to be all for another renewal. Federal aid in harnessing the atom for industrial use is expect ed to be hotly debated. So is a measure that would make it nec essary for parties to a proposed merger to notify the government of their Intentions first. Tight money policies will be as sailed from several angles prob ably. Contractors can be expected to urge Congress to make easier credit available to home builders. Champions of small business say they will ask a return to cheaper money. Even the basic Issue whether the Federal Reserve Board should be brought under control or guidance of the administration or Congress may come up on Capitol Hill. The debate on foreign aid will take a new turn, thanks to the Suez Canal blocking and the re quest or Western European coun tries for help, particularly In get ting oil. At the same lime, a number of industries that feel they are be ing hurt or threatened by foreign competition will seek new or more protection. Nearly half of all United State resident! and 60 per cent of Canada s population live within 500 miles of Buffalo, N. Y. 440-Volt Jolt Kills Worker EUGENE OH Raymond E. Jack, 46, grabbed a hot wire while repairing an overhead crane engine at the Lane Veneer plant Wednesday night and was killed by a 440-volt electric shock. Jack was the father of three children. Other workers said they be lieved Jack was frozen to the wire for about a minute before they saw him and shut off the power. Death Claims ' Nig Borleske WALLA WALLA (fl A heart attack Wednesday claimed the life of Raymond V. (Nig) Bor leske, who served as head coach at Whitman College here for 30 years. Borleske would have been 70 next Tuesday. Born in Albert Lea, Minn., Bor leske became athletic director at the old Broadway High School in Seattle in 1912 and was appointed Whitman coach in 1915. He re tired in 1945. From 1948 to 1954. Borleske was mayor of Walla Walla and at the time of his death he was the man ager of the Marcus Whitman Ho tel here. Survivors Include his wife, Mig 'Not a Chance' Of Income Tax Cuts This Year Small Business Relief And Excise Levies Drop Likely WASHINGTON W Higher government costs and an antici pated record peacetime Duoget an but ruled out any general income tax reduction action in the Con gress session opening today. Although some pressures for in dividual income tax relief were expected, the consensus of key members of the tax-writing House Ways and Means Committee seemed to be: "Not a chance." This, however, did not fore close the possibility of some re lief for certain groups of taxpay ers. Bipartisan support has de veloped in Congress during the re cess for some revision of business excise (sales) tax laws and for tax aid to small business men. The big block to general individ ual and corporate income tax cuts is the 1958 fiscal year budget due to be sent to Capitol Hill by President Elsenhower later this month. Congress expects It to put fed eral spending requests at around 72 billion dollars for the year starting next July 1. , This would be the largest budg et ever sent to Congress when the natio was not at war. It would leave little room for any sizable reduction in tax revenues, despite forecast of a treasury surplus oi as mucn as si, 700,000,000 dot lars. The Treasury steadfastly has uppusea iax reaucuon tnis year, contending it cannot be accom plished without serious loss of needed revenue. And the Prpci. dent's economic advisers are un derstood to oppose such action be cause of Inflationary pressures. Ffnr nf tnnrhinir nft a ti&.u in. flation spiral through untimely iax cuis also nas been voiced by intluential House Democrats. While Conffrpsx in pynwtpri tn leave unchanged present income iax rates, a numDer ot selec tive changes in the tax laws are in th mnlrintf Thaea mm, n.l cause any important net change in tax revenues. TRUCE BREACH CHARGED HONG KONG OR PeiDine ra dio reported today that armistice inspection teams had accused the United States of violating the Gene va armistice by "illegally send ing personnel and materials to South Viet Nam between Decem ber 1955 and July 1956." There was no immediate confirmation or comment from other sources. Canada, India and Poland supply the truce inspectors. U. S. DEATHS By TH ASSOCIATED PRESS CROTON, Conn. UV-Vice Adm. Wilson Brown, 74, naval aid to Presidents Coolidge, Hoover, Franklin D. Roosevelt and Tru man, and a former superintendent of the Naval Academy, died yes terday. OREM, Utah m Dr. Leroy E Cowles, 76, president of the Uni versity of Utah from 1941 to 1946 and associated with the school since 1914, died yesterday. He was born in Chester, Utah. PHILADELPHIA OR Robert E. P. Sensenderfer, 73, drama critic and retired sports editor of the Philadelphia Bulletin and with the newspaper since 1905, died yesterday. ALBANY, Ga. Ifl William Chapman Potter, 82, retired New York industrialist and banker, died yesterday. He was born in Chicago. DANVERS, Mass. W Dr. Er- win F. Lowry, 65, prominent in the field of Illumination, manager of the research engineering lab oratories of the Lighting Division of Sylvania Electric Products, Inc. died yesterday. He was born in Ridgcway, Mich. DOCTORS .KNOW bMt fitTOOf chlld'i dtiTrjit todajl ST.J0SEPH aspirin FOR CHILDBED Come Find Amazing Saving Discoveries from Newberry's Stock! Fashions for the Family . . . Needs for the Home. Every One Smartly Styled . . . Finest Quality! Don't Miss This Event! I' V v Reg. 22.95 COAT CLEARANCE All wool coats In sev eral beautiful styles, lined. LADIES DRESS CLEARANCE Asiorted styles and fabrics. Broken sizes. Ladies' Nylons Special Buy! 51 guage 15 denier At only one-half the price. Selected irreg. 2 p, 97' Main Floor Values fo $3.98 Now 1.99 Main Floor Children's Leather Shoes Boys' snd girls' lis 8V4-J Several ttylos Values fo $3.99 1.27 Basement LADIES' BLOUSES Values to 298 Assorted fabrics 32-38 Now Only 1.47 Main Floor LADIES' BLOUSES Broken sizes Sanforized cotton Reg. 1.00 L 77 mm B ,v VWH irsjciil PRICES SLASHED! BIGGEST SAVINGS EVER v. J MAIN FLOOR STAMPED PILLOW CASES 2,o,$l00 High count percole Values to 69c eo MAIN FLOOR UPHOLSTERY SQUARES Cuts from yardage to 3.98 ta. SEOND FLOOR 17' Infants Corduroy Crawlers Gripper snap crotch OO Many colors. Reg, 1.98 Wr MAIN FLOOR PLAID SHEET BLANKETS 60x76 Deep nap and coiy warm SKCONO FLOOR 99' Ladies 100 Wool PLAID JACKETS Exactly like others priced $ much higher. Reg. 10.98 8.98 MAIN FLOOR MENS SHORTS Several styles. All woshfast colors. Reg. 69e . BASEMENT 29' ENAMELWARE Wasrebaskets, bread boxes pots, pans, kettles. Values to 1.98 BASEMENT 57' LADIES SLIPPERS Felt slippers at a real saving price BASEMENT P, 47' GARBAGE PAILS Small utility pails. Galvanized. Reg. 2.39 . BASEMENT SOFA - DAVENO SLIPCOVERS 99' tWkdoths, sailcloths. Values to 21.98 6.98 BASEMENT Yardage Clearance Assorted Fabrics Big group of prints and solid colors that must go. Values to 49c yd. Some irregulars Sanforised SUEDE FLANNEL Ideal for tewing of warm cory shirts and robes Values to 59c yd. Second Floor I 37: m 4 i xr i all steal adjustable IRONING BOARD Smart savings on s sturdy board that prom- f C Q C Ises years of service. Easy to adjust for any 7 J standing or sitting height. With rubber-tip- ped legs. Reg. $7.95. tj oft BASEMENT SHADE CLEARANCE A whole counter of asst. styles, fabrics - colors One Group fl" Val. lo $1.00TW One Group QQ Val. lo $1.980 One Group $127 Val. to $2.98 A One Group $1 99 Val. lo $4.98 1 BASEMENT i... I .1 ASSORTED STYLES PIN-UP LAMPS Stylei lo grace the holt, rumpus room, ony bedroom, the dining room or kitchen. Quality made. c- qq Values to 2.98 1 BASEMENT TOY CHESTS Leathtrte Covering Reg. $9.95 $77 Large Size w BASEMENT -YV 11-Diamond f?j-iyj77 1 gBridal Pair -r 1 1! NO MONEY DOWN LOW EASY TERMS 10VEMATES" Carved gold matching wedding binds. I !' I I ladiM' watch hai 40- I ill I Mcond hand and H.nd.. w.th I., I ll U HI I 4""' man wWh an easy I II J I iai' waltr and tiottt raiii DiAr V Jgr tan watch la antimagnatic, BcW Anti-magnatie man'i watch with TVr and shock mil tint. Bjg mL BETTER COSTUME JEWELRY U Ylk Regular 3.95 to 29.95 W m NOW 195 icoo M ONLY 1 lo AO $f Quality natkfacai, IvactUti, pint and aarringi In jfi Pt tailored and atna aat tylti. Soma matching rtamt. &rjxr JptJeyfafK 'uy vpl hii low prica. j$mA gSj&. NO MONEY DOWN (tSfftF Open Mondays I Fridays to 9 P. M. 305 N. LIBERTY Rag. Store Hours 9:30 A. M. to 5:30 P. M.