7 ul. THE SPRINGFIELD UNION, SPRINGFIELD, WEDNESDAY, DECEMBER 26, 1962 9 State House Demand Made For Ouster of DPW Official Works Commissioner Jack P. BOSTON (P- -Ouster of Public Ricciardi and his two associate commissioners Was demanded Tuesday by a Republican Legislator. The demand was sent to incoming Democratic. Gov.
Endicott Peabody by Republican Sen. Philip Graham of Hamilton. Graham said Ricciardi and his associates, George C. Toumpouras and Clarence Wilkinson, had awarded a $131.590 contract to Marinucci Bros, Construction less than five months the firm and two of its officers, were fined on charges of and made restitution of more 8 previous contract than $200,000 in connections with tion of part of the federal aid Rte. 128.
1 In addition two state engineers also were indicted, and Graham charged Ricciardi has failed to proceed against them. The $131,590 contract is for bulkhead in Ilyannis harbor. Blaze in Hotel Killed 8 After 1931 Christmas Tuesday's three alarm fire in the Shakour Laboratories at 11-13 Stearns Sq. recalled one other holiday fire that will long remain in the minds of veteran fire lighters. It happened shortly after Christmas night in 1931 when a weary city was settling down for a rest.
At 12.20 police reporter James E. Murphy, having spent a rather dull night at Police Headquarters drove up Court St. on his way back to the office. There were no signs of fire, no signs of anything. He reached The Union and was told by the night telephone operator to get back to East Court St.
where there was a bad fire. When Murphy arrived, what had been somber darkness and quiet 20 minutes earlier had been transformed, into a flaming nightmare which, before the night was over, sent eight persons to their deaths. This was the New Court Hotel fire, which began with a smoldering smudge that hotel operators attempted to extinguish themselves. Although the fire appeared out, it ate through partitions of the five-story hotel and then burst out on all floors. tore the first trucks under Deputy Fire Chief Frederick Wright arrived from nearby headquarters, the building was an utter loss.
Jerry Kingston, once prominent in the city's business life, was a survivor of that fire. He arrived In his room that night after spending Christmas Day with his sister. In later years he told of smellIng smoke and opening his room door to be greeted by roaring flame. He smashed 8. window with chair 'and started yelling for help.
Jerry was lucky. He was rescued.The bodies of eight victims, Including two. babies, were lowered by ropes from upper windows just as the cold dawn was breaking. Tax Law Changes Corporations Will Benefit From Investment Credits Important changes in the federal tax laws tuke effect I Jan. 1.
All corporations and muny indiridual income. -tarpayers will be affected. This the first of a series of four articles on the changes. WASHINGTON (P) Corporaall taxpayers who "claim expense account deductions, Americans living abroad; savings institutions, cooperatives and many others will face now tax rules in 1963, Hailed by Dillon The changes are embodied in Public Law 87-834. the 1962 ad- tax revision ministration's bill, first attempt to the Kennedy from grapple the high tax rates tof the with problems flowing past Most provisions of the law take 20 effect Jan.
1. Kennedy first submitted his proposals in April, 1961, but it took Congress a year and a half to complete work on the The President ended up with legislation. less, than aspects. he But asked for Secretary in of nearly the the Treasury final product as "a major Douglas Dillon hailed advance toward our national goal of a revised and modernized tax system." law and Stick makes no The new changes in personal income tax rates. nor does it affect the great bulk of the taxpayers.
rules Revision applying of these was held over by the individual administration for the President's Public 1963 Law tax proposalsos confain about important changes in the tax code, however, concerning mostly business organizations and businessmen. In both its inception and final form, the measure is an example of the carrot and stick approach. The major feature is the carrot a $1 billion annual investment credit available to companies and individual to mod- businesses as an incentive ernize their plants and equipment. Numerous Increases The administration holds high hopes for this as a major weapon in the campaign to jack up the U. S.
economic growth rate and to make American business more competitive in world markets. But to pay for the credit. Kennedy proposed increased levies for numerous classes of taxpayers and Congress them in modi- went along with most of fied form. These groups include recipients of dividend and interest savings and loan associations mutual savings banks, U. S.
firms doing business abroad, mutual fire and casualty insurance companies, businessmen who entertain and travel widely, cooperatives, and Americans: living full-time abroad. The treasury held that these had been paying less than their fair share of taxes for years. Big Loser at First The final result was to leave the act a net revenue loser by perhaps $200 million a year at the outset. But administration officials, confident the the business stimulation effects of credit, predicted that before long the new provisions overall would bring in as much money as they cost. Investment CreditThis provision was made retro- Clearance Fall and Winter HATS Originally 8.98-25.00 $3 $5 price and less $9 Hurry in for holidaysavings in styles! Beavers! Furs! Flowers! Millinery, Second Floor 73 dend payments totaling more than $10 to any individual.
Savings institutions will have the same requirement for interest. In addition, identical reports must go to the income recipients by Jan. 31 cach year starting in 1964. A penalty of $10 for each failure to send a return up to a 000 ceiling is established. At present, dividend, totaling more must be reported government annually but' on interest the floor is $600.
Tomorrow: Movie stars and other Americans living abroad will find their earnings subject to U. S. income taxes under new law. TV Program to Feature Professor at U. of M.
ABC-TV's "Meet the Professor" will feature a University of Massachusetts professor on its first program of 1963. Joseph Langland, professor of English the university. will discuss creative writing on the nationally televised program Sunday, Jan. 6, ast 1.30. In this over WHYN-TV, Channel 40, area the program will be, seen Springfield.
One of 26 college teachers befeaturded on "Meet the Professor" this season, Prof. Langland is a poetry editor of the Massachusetts Review and author of several books on fiction and Students appearing on the program with Prof. Langland include Maurice Cocchi of Sunder- Springfield, Charles Dean land and Eve Silberstein of Springfield. Judith Kroll of Smith College. a member of Prof.
Langland's class through the Four College Cooperation program, will also participate. What is said to be the wind velocity ever recorded was measured at 231 miles per hour atop the 6288-foot Mt. Washington in New Hampshire on April active to Jan. 1, 1962. Most companies, however, will first get the benefit of it in their returns filed in March, 1903.
Businesses will be permitted under the credit to subtract from their taxes up to 7 per cent of what they spend for new equipment and machinery. But no taxpayer can claim a credit of more than $25,000 plus 2 per cent of his remaining tax lability in a year. Public utilities will be allowed only a 3 per cent credit; but interstate pipelines. are eligible for 7. The full credit can be applied only to an item with a useful life of eight or more years.
Those with six to- seven years will get two-thirds of the credit, those with four to five years one third. Buildings and other real property will not be eligible. lowever, purchases property to $50,000 can qualify; this provision was designed chiefly to help small business. Unused credits in any year can be carried back three years or forward five. the credit is claimed on an item, its depreciation base will have to be reduced by the amount of the credit.
Dividend and Interest Income Kennedy asked for a tax withholding system on this income, similar to that in effect on wages and salaries, but it was killed in the Senate. However, the new law prescribes much tighter reporting requirements in this field. The reports, used in conjunction with the treasury's electronic processing machines, are expected to bring in much of the taxes "Corporations, treasury will have annual to re- FASHION SHOP THE PEERLESS WAY 90 DAYS 3 MOS. TO PAY savings you owe SEMI-ANNUAL SALE OF FAMOUS-NAME SHOES! MORE sizes than ever before? MORE widths than ever before! MORE styles than ever MORE new shoes than ever before! Prize -Spring buys Foot Flair hirs FASHION SHOES regularly 10.99-14.99 B.DO She Acts as Den Mother To 3 Million Angus Cattle ST. JOSEPH, Mo.
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Within 40 seconds, Iris can tion pedigree four her 3.7 produce for you a is the "programer" in charge million Black Angus, cattle. She of data processing operations at the new Honeywell electronic data processing center recently installed at the American Angus Association in St. Joseph. Under the directorship of Edward G. Glowaty, director of data processing, Iris and a staff of the Association's statisticians have been transferring from some 8 million punched paper cards to 15 reels of magnetic tape the complete genealogical statistics of 3.7.
million registered Angus cattle. These tapes, each about the size of an LP record and an inch thick, contain information previously occupying 200 large 20-drawer filing cabinets. Only 65 While the 15 reels of tape will weigh a total of only 65 pounds, they will contain close to six miles of magnetic tape packed with the pedigree, ownership and transfer records of the registered Angus cattle owned by With the Associatione 400 40,000 members. computer, Iris, her staff and her 15 reels of magnetic can produce in seconds and registration documents heretofore requiring hours and days of statistical research. Being den mother of 3.7 million cattle does no tappall Iris.
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Morin reported Tuesday. "'However, the office received heavy mail from the far West Christmas Day. This was processed during the night and will be delivered today, he added. Much of this mail is for dis- throughout Massachusetts, he said. Morin said the post office now faces a "heavy flood of circulars" which will start today and through 7.
These circulars from various parts of the country will run into the hundreds of thousands." He said that although total pieces of mail handled by the of- And she sees nothing incongruous in mixing cattle digital electronics. Cattle were always present on the farm near lion cattle does not appall Iris. grew up and she has spent nearly all of her post-college years working with electronic. office equipment. Back in Kitchen Meanwhile, back in the kitchen, Iris cooks and keeps house for her husband, Shelby, a switchboard installation specialist for Southwestern Bell Telephone Co.
Her associates allege Iris' talents are not confined to digital electronics and that she can handle knitting and crochet needles' with the same ease as fice during the Christmas rush was about 50 million, the total was 7 per cent less than the 1961. total. He said there was no "peak" day for holiday mail this year but rather the flood of mail stayed at a "plateau" for several days before dropping Monday. He expressed thanks to residents for mailing early and to employees "who did a wonderful job." Ready Wednesday at 9:30 A.M. SPECIALS NUARY famous-make price break on best selling GIRDLES AND BRAS Stock up on your favorite famous-makes and save a sweet sum for months to come! SHAPEMAKERS SELF-ADJUSTING "ROMANCE" BRA, style 573 2 for 4.69 reg.
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