THURSDAY. OCTOBER 2S. 1962
MEDFORD MAIL TRIBUNE. MEDFORD, OREGON
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ATTEND CEREMONY George Meany. left, president of
the AFL-CIO, and Supreme Court Justice Arthur Goldberg
are shown huddling following the swearing in at the State
Department in Washington of William C. Dougherty, former
president of the Postal Workers Union, as the united states
ambassador to Jamaica. Dougherty, partially shown In cen
ter, received a recess appointment to the post from President
Kennedy. (UPI)
Hatfield To Attend Timber Conference
Salem-MPH-Gov. Mark Hat
field said today he has accept
ed an invitation to attend a
timber salvage planning con
ference at Portland next
week.
The conference was called
for by President Kennedy for
next Tuesday and Wednesday
lo plan the best way to sal
vage timber knocked down In
Oregon, Washington and Cali
fornia by the Oct. 12 storm.
Invitations to take part In
Ihe conference were sent
Tuesday to senators, congress
men, governors, slate forest
officials and private timber
owners from the three states.
Hatfield also announced
that he has sent a telegram
lo the U.S. Tariff Commission
asking it to consider storm
cumaRH to limbc- on the Pa
cific Coast in making its de
cision on proposals to cut
down the flow of Canadian
softwood lumber Into the
United States.
The governor said there
would be an increase in the
volume of lumber on dis
tressed markets during the
next three years because of
necessary salvaging of trees.
The Fashionette-
"Quality Is Not Expensive"
Largs Assortment
of
Coats
Wools
Water Repallanr
Silks
Twills
Imported
Velveteens
Washable Italian
Leathers
Corduroys
and
Car Coats
Coats Priced
$3500
7998
m Mr 1 J .
Wool Coals
Sites 8 to 18
Guaranteed
Linings
1 Drive OnlvT Mk:
7 ytM'
Congressmen,
Governor Will
Attend Briefing
By United Pren International
Incumbent Oregon congress
men and Gov. Mark Hatfield
plan to Interrupt their cam
paigns to attend a State De
partment briefing in San Fran
cisco Friday on the Cuban cri
sis. Sen. Wayne Morse, chair
man of the subcommittee on
Latin American Affairs, was
briefed on the crisis in Wash
ington, D.C., Wednesday and
plana to return to the state
Friday.
Morse said after his brief
ing the Cuban "quarantine"
was "necessary to protect the
security of the Western Hem
isphere." Sig Unander, Morse's Re
bulican rival, cut loose at
Morse In a Linfield College
talk Wednesday saying Morse
". . . has consistently refused
to recognize . . . the danger
that has existed and grown in
Cuba for the past two years."
Sparks flew in the guberna
torial race, too. Democratic
nominee Robert Y. Thornton
charged Hatfield's approval of
a test case by the attorney
general was "in my opinion
. , . a 100 per cent political
grandstand stunt."
Over Legal Aid
The two candidates appear
ed on Ihe same platform in
Portland Tuesday night and
Hatfield gave Thornton a let
ter authorizing the latter to
go lo court if he believed Hat
field committed an illegal act
in hiring his own legal aide.
John Davis Lodge, former
governor of Connecticut, ap
peared in Portland Wednes
day in behalf of Republican
Stanley Hartman, who op
poses Rep. Edith Green ID
Ore.) for Congress. Lodge said
he supported the Cuban quar
antine. "The result will de
pend on courage and resource
fulness on our part."
State Rep Carl Fisher, GOP
Fourth district congressional
candidate, said in Eugene to
day he believed the people
should be kept as fully in
formed as possible "in Ihe
continuing crises which this
nation will face In the ninnlhs
and years ahead ... so long
as release of the information
is consistent with national se
curity." Not Welfare Slate
Blaine Whipple, who op
poses Rep. Waller Norblad (R
Ore.) In Ihe first district, said
in Salem Wednesday the fed
eral government was not ere
allng a vast welfare slate. He
said facts do not support
claims there has been a "drift
to socialism" In the country.
State Democratic Chairman
Ed Spencer urged elk hunters
who plan to be in Ihe field
on election day to obtain ab
sentee ballots. "Voters may be
hunting elk while their po
litical parties are hunting
voles on Nov. 8," he said.
Your Money's
Worth
By SYLVIA PORTER
Copyright, Hall Syndicate, Inc.
Thirly-four per rent of
lflftTs total radio output was
in models for automobiles, ac
cording to the American Auto
mobile Association.
THE NEW TAX LAWS' MEANING TO YOU IV
INVESTMENT CREDIT IS TAX BONANZA
If you're a businessman, salesman, physician, dentist, ac
countant or In any other occupation where you buy de
preciable equipment, autos, etc., In connection with your income-producing
activities, you may find you are entitled
to a completely unexpected tax cut when your prepare your
1082 income tax return.
If you report on a fiscal rather than a calendar year
basis, you even may be entitled to a tax refund right now
if you already have filed your return for a year ending
in 1002.
This unanticipated lax bonanza comes from the new In
vestment tax credit which Is the heart of the 1962 Revenue
Act signed by the President into law last week.
A first point you easily might overlook Is that while this
tax credit is designed to spur economic activity and updating
of America's industrial plant by encouraging businessmen to
buy new equipment for modernization, it applies to all
qualified purchases of equipment, regardless of why the
equipment was bought.
A second point which has been obscured is that the
credit is not limited just to businessmen.
Many others in the professions and trades who buy de
preciable equipment in connection with their professions or
for the production of income also are entitled lo the credit.
For tha overwhelming majority of business and profes
sional men it will be just a happy windfall since they
would have made their purchases of the equipment wheth
er or not the credit was available.
The Treasury itself estimates the lax savings pot created
for those who buy machinery and equipment will come to
$1 billion a yearand it's available for all qualified pur
chases starling with the years ending after 19B1.
The new Investment credit Is, In effect, a tax rebate
given to you on the purchase of depreciable tangible personal
property such as autos, equipment, furniture, etc., used in a
business or for the production of Income (it doesn't apply
to livestock or buildings'.)
But instead of giving you the rebate in cash, the Treasury
lets you take the credit as a direct reduction of the tax you
owe on your return. Thus, If your 1062 tax is $1,500 and your
credit is $200, you will send the Internal Revenue Service
only $1,300.
Since the credit Is In the nature of a rebate, It reduces
the cost of your asset in figuring depreciation. For example,
if you buy equipment for $10,000 and are allowed a $700
credit, you can deduct $9,300, not $10,000, as depreciable
over the life of the asset.
The credit isn't allowed equally on all depreciable tang
ible personal property. The odd result of this is that although
(he credit is designed lo spur replacement of assets, you get
the biggest credit the longer you intend to hold the assets.
If you plan to hold the assets for eight years or more,
your credit is 7 per cent of the cost; for six io under eight
years, the credit is 424 per cent and for four to under six
years, 2'3 per cent. Thus, if you bought a $3,000 business
auto this year which you will keep for three years, you
get no credit. But if you expect to use it four years, you
get a credit of 2Vi per cent of $3,000 against your 19S2
lax bill.
The credit Is allowed In full in Ihe year that you buy
the asset, based on your estimate at that time on how long
you expect lo use it in the business. Say you buy $20,000 of
business equipment on Dec. 30, 1962, and place It In service
on that date, estimating that the equipment will be used
for more than eight years. You can get an immediate credit
of $1,400 to be used against your 1962 tax due in March or
April 1963 even though you hold the equipment only one
day in 1962.
But if you miss on your estimate get rid of It before
eight years you will have to return part or all of the credit
you took. In brief, you would have to refigure the credit
based on how long you actually kept the asset and pay back
the difference to the Treasury.
Say in Ihe above example, you sold Ihe equipment In the
sixth year of use. You would he entitled to a credit of only
4Jn per cent of $20,000 or $934. Since you had claimed
$1,400, you would have lo arid $466 to the taxes you pay in
the year you sold the equipment.
Next: Specific hints on how to use the tax credit.
ONE GROUP
WOOL SKIRTS
BULKY ORION
and SWEATERS
Values to 14.98
SC88
2 FOR $10.00
ONC GROUP Nationally Advertiied
PANTY GIRDLES
Nylon Power Nat. S., M., I.
VALUES to $7.93
ONE GROUP
DRESSES .,. ,Ki
Arnel Jerieyi, Matte Jerseys
Rayons and Cottons
VALUES to $17.98
SCOO
TjQ88
2 FOR $20.00
LAY-A-WAY
FOR CHRISTMAS
NOT OPEN
FRIDAY NIGHTSI
Please Shop During
the Day
The Fashionette
72 South Central (Acroit from Crelerian)
SPECIAL MOONLIGHT
PURCHASE
IF m
in stoCw rf -r-n X
Doient of II ' !
Beautiful II. .
Fall Bags lf i
$l00Off 1
Each and Every . n
Mention rr
Famous Namei '
In I
MOONLIGHT
25 OFF
Choose From 30 Lamps in This Group
FRIDAY and SATURDAY ONLYI
Dinnerware
Vl OP,
SAll
Jnd Floor
.4 it?
Rsauttful lamps
for Every Room
in tha Houss
Pin-Upi Po! lmp
Table Style
in Colonial,
Traditional and
Contemporary
f M-HUmi'l " P-M. FRIDAY
SWEAA'S
BOOKS-GIFTS
RECORDS
217 E. MAIN
ThriTivWfri
DOWOTOWN
-j STORE ONLY
MOONLIGHT SALE
OPEN 'TIL 11 PM FRIDAY - ALL SALE PRICES IN EFFECT SATURDAY
ONE TIME EXTRA!
SPECIAL PURCHASE
LADIES
100 Orion Bulky Knit
CARDIGAN
SWEATERS
Cable ititch affect with collar. Siiei
34-40. Colon, white, black, beige,
red, gray, camel, blue, green.
Reg.
5.98
488
CHOCOLATE COVERED
MERRIES
Reg. 59c 10-oz. Box
TREAT TIME
MIXED
NUTS
1 3-oz.
can
Reg.
89c
57c
VANILLA CREME
COOKIES
FULL 2 POUNDS
Mrl. Allison'! Sandwich Cremei
Reg. 1.78 Value
2 bags $
or 4-lbs.
LOWEST PRICE EVER!
Halloween Costumes
All children's size.
Huge selection of
favorite characters.
$1.59 value
8 fi C CHARGE
See our complete assortment of Halloween
needs Masks, Candle Cards, Paper Table
ware !PlasticPumplins:Wigsetc.
DINETTE CHAIR
REPLACEMENT SET
Reg. 3.98 each
Set
of
12
88
Two -inch box welled
cushion and a curved
back fit slip-on or screw
on chair styles. Asst. pat
terns in washable vinyl
plastic.
i
fit'
i 1
7 PIECE
COPPER TINT
GLASS
BAKE SET
For gifting and to beautify your own kitchen. Gleaming
coppertint heat-proof glass with while linings. Set of 1 Vi-qt.
casserole with cover, 9" pie plate, four 6-oz. custard cups.
This set will be given FREE if you open
an approved NEWBERRY CHARGE
ACCOUNT for 19.95 or more ... or
if you add a purchase of 19.95 or
more to your NEWBERRY CHARGE
ACCOUNT. (Offer expires Oct. 31,
1962.
DOWNTOWN STORE ONLY
L
v
3 f
HASSOCKS WITH
A LEATHER LOOK
5.66
Newberrys low price
Padded seats in leather
look plastic. Round or
square with black or
walnut finish legs. 14"
high. Many colorsl
fa
ELECTRIC CAN
BOTTLE OPENER
6.38
Regularly 9.98
Single lever fingertip ac
tionopens any sire or
shape can. Magnet holds
lid. 10yr. guarantee on
cutting wheel.
G.E. CLOCK RADIO
CHARGE ITI
Automatically wakes you
to music or alarm, lever
type clock controls. Built
in antenna. 4' speaker.
McGRAW STEAM IRON
Non-Splash Design
Reg. 9.98
2': pounds lighi for eay
ironing. Special n o n
splesh design. Ey-to-read
control dial for all
fabrics.
(0
G-E ELECTRIC
ALARM CLOCK
2.66
Famous G.E. Telechron
accurate & dependable.
Alarm sounds for 45
minutes unless shut off.
Beige case. 4x3' 1".
Plus Fed Tax
3
15-CUP ELECTRIC
COFFEE MAKER
8
Reg. 12 95
High polished aluminum
with Westinghouse thermo
stat. Flavor selector. Fully
automatic.
CHROME POP-UP
TOASTER
Regularly 9.98
Makes toast to desired
shade, pops up when done.
Hinged crumb door. UL ap
proved. CHARGE IT
Newberrys DOWNTOWN Store Only
Opn until 11
Tomorrow Night
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