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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Jan. 17, 1960)
PAGE 6 A HERALD AND NEWS, Klamath Falls, Ore. Sunday, January 17, 19(50 PAGE LAMOREAUX, a Call fornia auto dealer and Klam eth County ranch owner who travels the world as a pen sonal Communism fighter, will speak at the annual meeting of the Klamath County Chamber of Com merce Wednesday at 6:30 in the Willard Hotel. In On The Record MSKITOU COUNTY BIRTHS novs jiui.i.f.BWEUlj Born to Mr. nd Mm. Willard Carl Bullerwcll January in mcuioun Hospital a roy, weigh CROSBY Born to Mr. and Mn. Wl nam James Crosby January 9 Mount Shasta Community Hospital boy, wristling 5 Ibi., fl ozs. U.KFEH Born lo Mr. and Mrs mcnara uean Lrper January 2 Mount Shaiita Community Hoipltal boy, wcljhin 5 lb 13 ozs. GIRI.S GIBBS Born to Mr. and Mn. Genr. uiry oinos January 1 In Siskiyou uciieiai nospiiai a Bin, welshing lbs., 1 1 4 nrji. GRAZIANI Born to Mr. and Mrs. jiooffn isruno Grazlanf December In Siskiyou County General Hoipltal i. wriBiniiB l log., Jl OZI. MuHT Horn to Mr. and Mra. Carl freaencK mort uecembrr 30 In SJ Iclyou County General Hospital a girl weiguing ( jus., 1U', oza. MSKII'OI COUNTF MARRIAGE LH'KNSKS Philip Jefferson Hussey, Grants rass. uregon. and Florence Belle Da Vis, Central Point, Oregon. Gaetano Peter Castellano, Yreka, and Gloria Ann McRobcrti, Yreka. DEATHS Alberta Reed, 62, Weed, on Janu ary 6. Thomas Clifton Slater, 74, Tulelake, On January 4. Income Tax Facts f.uitor s Nolo, This is one in a series of articles on federal in come tax filing. These articles are based on information provided by the American Institute of Certified Public Accountants and the South em Oregon Society of Certilied Public Accountants in cooperation with the Internal Revenue. KLAMATH PALLS BIRTHS BENSON Born to Mr. and Mrs yieivin Hanson January 14 In Klamath vaney nospiiai a Doy. weighing 10 lbs. EMERT - Born to Mr. and Mrs lese Franklin Emert January 14 In itimnain valley Hospital a boy, weigh lng 7 lbs., 8V4 oz. (JIRI.S KEEFER Born to Mr. and Mrs. j-eier Heeler January 14 In Klamath vauey Hospital a girl, weighing 9 lbs. B ora. WILLIAMS Born to Mr. and Mrs Williams January 14 In Klamath --..car ngipiui a girl, weighing 6 lbs. CASUALTY. TIIEKT BAD DEBT LOSSES You can ' get some tax relief from casualty, theft, or bad debt losses, but there are a number of considerations you should b e aware of before you go ahead and deduct such losses. There are a great number of natural and unnatural elements that can damage or destroy the property you own. Such things as fire, storm, flood, and explosion arc but a few of the more com mon elements. In any event, the damage must occur with some suddenness. It is usually not dif- ficult to show that a casualty loss occurred, but there may be a prob lem in showing the amount of the loss. To determine your loss, you sub. tract (lie fair market value of the property after it was damaged from the fair market value of the property before it was damaged, In other words, the difference be i ween what you could have sold it for and what you can now sell it for. Once you have deter mined the net loss in value, you must subtract any insurance o other compensation payments you receive to arrive at the amount you can deduct on your income tax return. You can't make a profit on loss deduction. Say, for example, hat you bought an antique chair many years ago for $20. As it has crown in age it has grown in value, reaching a top catalogued alue of almost $250 just before was destroyed in your living oom fire. The total amount you would be allowed to deduct for ( lie chair would be $20, since a casualty loss deduction cannot ex ceed the amount the chair a c- tually cost you. It is important that you get an appraisal of the value of your oroperty as soon as possible after the damage occurs. The appraisal should be by a qualified expert, and should be in writing. The value of property before being damaged is sometimes difficult to assess. Records ot offers to buy the property may help. It the property was recently months. Your friend runs into a scries of hefty financial difficul lies and it becomes clear that there is no chance of your loan ever being repaid. You can now consider the amount you loaned Joe a non-business bad debt. If, in a later year, Joe pays y o back, the repayment will be in come if the earlier deduction of the debt helped reduce your taxes deductions for casualty and theft losses can be itemized as "other deductions" on your tax return, Non-business bad debt losses must b" treated as short-term capital losses and, as such, are subject to certain limitations. If you have any non-business bad debts, y o should seek more information be fore attempting to claim any kind of tax relief. You can get additional informa lion on your casualty, theft, and bad debt losses from the instruc tion booklet furnished by the In ternal Revenue Service each year V i V t OZB. Boys: IMO SU.MMARV 3 Clrls: LT. COL. W. E. PARKHOUSE Advice Board I Of SA Meets Monday U. Col. William E. Parkhouse of San Francisco will present the Salvation Army's approach to youth problems of today at the an nual Salvation Army Advisory Board mcetina Monriav. .lamiarv acquired in. at 6:30 n m. in Ihr. Winoms yuu cuii anuw me uuis or receipts. Hotel. in some cases, repair bills will be sufficient evidence of the (P HAMBER by GEORGE T. CALLISON Assistant Mqr. KLAMATH COUNTY CHAMBER OF COMMERCE Members of the Klamath County Chamber of Commerce and their guests can consider themselves fortunate that they will have the opportunity to hear an outstanding speaker at the annual meeting Wednesday evening. He is Pa Lamoreaux, who, besides being a California automobile dealer and a Napa Valley and Klamath County cattle rancher, is one of three American businessmen engaged one of the boldest enterprises yet conceived to combat Communism in Asia, Africa and Eurasia. Known as Private Enterprises, Inc., the organization, backed by American investment money, seeks out worthy young businessmen in foreign lands, and makes capital available to them to launch expand their businesses. The deal is made on a partnership basis until the loan has been paid off from the profits of the venture bo lar, he has helped nnance a business that will export timber, develop oil wells, mine ore, and develop diamond resources in var ious parts of the world. He has an interest in a retail furniture store in Athens, Greece; a factory to make spring coils for textile machinery in Istanbul, Turkey; the manufacture of women s sport coats from goat hair in Beirut, Lebanon; a furniture company to make steel chairs and tables in New Delhi, India, and a business selling chocolate ice cream bars n Bangkok, Thailand, among others! The venture was born when Bill Graham, young Kansas oil mag nate, stopped off in Thailand while or. a round the world trip in 1957 There, he was apallcd to find what he described as "young and in tnlligcnt faces, and idle hands Graham considered the combina tion a dangerous one, particularly in view of (lie inroads Communism was and is making in nations where opportunity for the individual is so circumscribed. Since then Lamoreaux and J.H. Jrying Hiubing, Minnesota, architect have joined with Graham in the project and it has mushroomed. What made Lamoreaux devote himself so vigorously to the ven ture? He says it was what he saw ot the united Mates and Capitalism's failing prestige wher ever he went in the Near and Far East, and how great an ineffec tiveness he discovered our govern ment aid agencies to have with the masses of people we have tried to help and befriend. He says it was the sight of how much more clever the rival Com munist "missionaries" have been in investing themselves and their Soviet nation's money and supplies, instead of giving them away. He says it was the circumstance that the 23 new ' nations born since World War II all turned to de mocracy instead of to communism, only to slip into the misfortunes of any democracy born in poverty and half-understanding. These people must be finally and solidly won over to democracy, Lamoreaux feels, and, from per sonal experience he believes the only way to do it is to give some thing of ourselves as American people along with our dollars our partnership in a business, as he has done with more than 40 assorted young men of 12 foreign lands, our know-how, our human interest and our good will. It was the prospect of hearing this vital message from an Amer ican businessman so dedicated to the cause of freedom and private enterprise that prompted me to ay, at the outset and it s worth repeating members of the chamber and their guests can con sider themselves fortunate that they will have the opportunity to hear Page Lamoreaux at the chamber's annual meeting, 6:30 Wednesday evening, January 20, at the Willard Hotel. Many People Want Pooch BOSTON (AP)-So many peo ple want Scamp that a sweep stakes drawing will be held next week to determine his new home. Scamp is a 4-month-old brown black and white puppy who tugged at hundreds of heartstrings when his picture appeared in newspa pers across the country last week. The Associated Press Wirephoto showed Scamp with big casts on his rear legs after some cruel per son brutally kicked the dog. Angell Memorial Hospital re ceived 500 phone calls and 300 letters and telegrams from per sons seeking to adopt the home less puppy. Pact Awards To Be Made The county court expects Wed nesday to award a contract for a county-wide radio network to be used by the sheriff's and road de partments. Bids for a transistorized system were opened by the court a week before, and were reviewed by Civil Defense Director Joe Searlcs. The federal government will match costs 50 per cent because the net work will be adapted for Civil Defense work. Bids were received from Motor ola, for $26,994, and General Electric, for $23,820. The network is to include four control stations, five remote con trol units, 19 mobile units, three portable units, and installation costs. PAY LESS CLIP-N' SAVE COUPON mm R GARY HAS SORE THROAT HOLLYWOOD (UPI) Bing Crosby held a news conference Tuesday to explain why Gary Crosby wouldn't appear with his three brothers on Bing's television show . Monday night. 'He's got a bad throat and won't be able to sing for more than two months," the elder Cros by said. The four brothers attended the conference. Prlcei effective nly with Individually cut coupon. ZEE O TOILET TISSUE : ROLLS 90 C 5 FOR Em at J With This Coupon tm GET YOUR SHARE 50,000 PRIZES Movie I. Q. Contest Phone TU 4-8484 Evenings B BOY'S SWEAT SHIRTS Reg. 1.39 :99c With This Coupon pIIIIIIIIIIIB 9th and Pine Phone TU 4-3188 Gas Chamber To Be Shown The controversial women's pris on at Salem and the state prison gas chamber will be featured Sun day at 2:30 p.m. on KOTI Televi sion as the second of a new docu mentary scries, "In Our Care," produced for the State Board of control. the board, with Gov. Mark Hat field as chairman, has made plans for a separate women's prison. The film depicts present facilities and the site selected for the new in dilution. The gas chamber has not been usca since 1953. A vole in No vember, 1958, retaining capital punishment in Oregon could mean Its reactivation. The film showi In detail how the chamber works Other departments of the pris on include the prison farm, for estry camp, custodial, industrial cuuuduuiiai aim pre-release pro grams, and staff training. The film was produced for the Board by the department of Ed ucational TV, General Extension division, State System of Higher r-aucauon. Water Well Drilling Set arming of a second test hot naier eu on inc U Connor site lor the new Oregon Technical In stitute campus will begin immcdi atciy, Director W.D. Purvine an nounced. The well was authorized by the oiaie hystem of Higher Education Morey of Klamath Kails won tno drilling contract. At a depth of 704 (cot, the first well has hit water measuring a consistent 104-degrec temperature. Drilling on both will continue to at least 1.200 feet unless adequate hot water for heating now facil ities is hit before drillers reach that depth. Test wells are essential In lo cating adequate hot water, Pur vine says. Drilling operations arc tricky and speculative. A hot but dry well in a volcanic core may be located only a few feet away from a potential hot artesian well, he said. Newspaper SPOT ADS are inexpensive repeated daily $1.16 S5??S 15 f tjJwfe ' iTtZ A MaaKSSaM.aa.SBHB- 4TH ANNUAL TIRE AND BATTERY mm change in value. But be sure to gather any information you can I that will show (lie value of the I property before the damage, I Your problem in claiming a 'llicft deduction may be in proving (hat the theft actually took place. When you discover that a tlicfl has taken place, you should no tify the police. All the evidence you can gather police records, eye-witness reports, newspaper ac counts, and so on will help to support your claim that there was a theft. Obviously, you can not always tell when the theft ac tually look place. For this reason, the date of the theft is not neces sary for tax purposes. But you must claim the deduction in the year that you discover your prop erly missing. Kor tax purposes, business and non-business bad debts are treated dilfercnlly. Since, as an individ ual, you are more likely lo be concerned with non-business bad debts, this discussion will cover only those debts which are not created or acquired in your trade or business. ror a non-Business debt lo go had, u must first have been an actual debt with legal liability (hat could be enforced in the courts. This distinguishes the debt lrom ihe type ot "loan" you may give your son, without any serious ex pectation of repayment. Ihe non business debt must ulso be completely worthless. In uthcr words, it is not sufficient that the debt is uncollect able today. It must also be probable that the debt will remain uncollectoble in the future. Say. for example, that you lend money to your friend Joe Doakes. This is a bona fide loan payable wiui uiioiesi ai ine end ol six Colonel Parkhouse is well quali lied to speak on the subject of youth. In his present appointment as the Territorial Young People .:ecreiary ana candidates secre- lary for (he Western Territory of Ihe Salvation Army, he is repon- sible for securing candidates for Salvation Army officership and supervision of all youth program: in this area. More than 16,000 young people attend Sunday School this territory and he is responsible for establishing many other youth programs. The colonel is an internationalist He was born in the United States but in 1900 his parents returned to Great Britain where he was raised and educated. He is a third generation Salvationist, raised Ihe hub of the Salvation Army, the city of London. He entered lull time service in the Army while still a young man. During his early years he held many ap pointments in the London area and al International Headquarters. In 1937 he and his family moved to the United Stales Western Ter ritory. Since that lime he has held appointments in both corps and di visional levels before his appoint ment in 1!3 to his present position the public is invited to attend Saturday night's meeting, where recognition will be given persons who performed outstanding serv ice for the, army during 1959. New- board members and officers for 19130 will also be installed. Tickets may be secured from any advisory hoard member or at the door. MOVING? f Coll TU 2-5282 NORTH AMERICAN VAN LINES 525 Main JANUARY STOREWIDE Clearance NOW IN PROGRESS SAVE -oi2 13 Your old tire is worth s1 to u Trade-in on premium quality NYLON 64 9 Inch PYREX CAKE DISH REG. J AC 80c 49 Is Coupon With This Coupon J7S GUARANTEED FULL 2-YEARS! 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