Tax Write-Off S Ordered As Aid to U.S. Business
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D/itribution BED BANK j rtmmmmur-ttr. m '' * *' wlaMt r Dial SH NO. 224 wt ssssr RED BANK, N. J., FRIDAY, MAY 11, 1962 7c PER COPY PAGE ONE Tax Write-off s Ordered As Aid to U.S. Business HOT SPRINGS, Va. (AP)—The Kennedy ad- al hearings, was unable Co attend today's opening But, he said the bigger annual deductions it ministration made a major move today toward session of the Business Council's spring meeting. will permit will take'effect in this 1962 tax year, better relations with business by announcing that Undersecretary Henry H. Fowler read Dillon's will be usable as a matter of right by all tax- liberalization of tax depreciation write-offs will be speech at the closed-door session, after giving payers and will apply to machines and equipment ordered soon. copies to newsmen. already in use as well as to those bought subse- Unofficial estimates set the 1962 tax savings at As if in direct reply to thoSe who have quently. about $1.25 billion for big and little businessmen. charged since the steel battle that the Kennedy His words dispelled suspicions voiced in some • The announcement was made at a singularly administration is antibusiness, Fowler told the 100 quarters that there would be only a token liberal- appropriate forum—the Business Council, an or- assembled corporation heads: ization or that the prospect of faster depreciation ganization of major industrialists headed by Chair- "Our depreciation revision as a whole will, was being used merely as bajt to induce business- man Roger M. Blough of U.S. Steel C6rp., Presi- indeed, be meaningful to American industry and men to support the other key elements of the ad- dent Kennedy's chief antagonist in the April steel to the entire American economy. ministration's tax program—the bill providing a price tussle. Big steel rolled back its price in- SHORTER PERIOD tax credit for investment made in modernization. creases under pressures from Kennedy. "Can anyone any longer doubt this?" Together, Dillon has declared, the twin tax IN FINAL STAGES The Treasury official gave no actual figures measures will give U.S. industry a better tax break Secretary of the Treasury Douglas Dillon sent and made no estimate of the amount industry than their long-envied foreign competitors. And, word that the revision is "now in its final stages." would save—and the Treasury would lose—by he has said, they should stimulate the kind of He said the write-offs will be ordered into effect shortening the period in which companies can plant improvements that can bring American ex- late next month or in July at the latest. write off the cost of new machinery and equip- porters closer to cost equality in world markets. Dillon, detained in Washington by congression- ment. (See BUSINESS, Page 3) MCOSS GUESTS — Mn. Eleanor Roosevelt, guest speaker at the 50th anniversary dinner of the Monmouth County Organization for Social Service last night in Shrews- Hospital in Ultimatum bury, is greeted by Miss Laura Harding, MCOSS board president. At right ii Commissioner Anne M. Kross of the Department of Correction of New York City, who accompanied Mrs. Roosevelt to the dinner. -"* , Begin Crackdown Against Doctors By The Associated Press Anderson bill if and when it be- The doctors at Orange Memo- comes law. ial Hospital who signed a declar- In Lakewood, Dr. Sol B. Zinkin ition refusing to treat patients said yesterday 12 doctors had under the proposed King-Ander- signed a resolution "completely 50th Anniversary son; medical care bill will be rejecting" an earlier doctors' "permitted to resign" if the bill declaration that pledged signers child believed life had to be lived to the high- SHREWSBURY - Mrs. Eleanor Roose- becomes law and they persist in to refuse to treat patients under est capacity that every individual cdn velt led an assemblage of state and county their attitude, the hospital has the King-Anderson bill. The bill achieve," she said. dignitaries, staff members, volunteers and out- announced. links payment of medical care for of-state visitors last night in applauding 50 BASIC DIFFERENCE the aged to social security. years of service by MCOSS. The hospital administrator, The 50th anniversary dinner in the Shad- She urged that children be advised to Benjamin Wright, said last night owbrook was a tribute also to Mrs. Geraldine prepare while still in school for their roles that he has spoken to several Nursing Home President L. Thompson, founder of the Monmouth Coun- in the struggle between Communist and non- members of the staff who signed In Newark, state AFL-CIO ty Organization for Social Service and its Communist countries^, the declaration. President Vincent J. Murphy president for 40 years. "One of the things we have allowed our "I stated that it was my opinion claimed that Dr. J. Bruce Hen- BARRICADE IN ORAN — Women ihopperj in embattled Oran make their way over GUIDING YOyTH young people to think ... is that perhaps hat the signers were pre-judging riksen was leading the doctors' brick* and rubble piled up in one of the Algerian city's street! by French army their elders may decide to bring this world the legislation and I said that boycott of the proposed federa Although the topic of the evening was forces as a barricade in the fight against the secret army. Stones for the barrier the five decade history of MCOSS, Mrs. Roose- to an end. They think, if there is nothing they after it became law we would legislation because Henriksen is velt characteristically spoke of guiding the can do about it, they might as well enjoy have to conform — no question president of a nursing home thai war* obtained by crushing surrounding houses to provide a clear line of fire in the nation's youth to meet the future. themselves." ibout that," said Wright, would have to reduce fees if the area whew shooting incidents have been an almoit daily occurrence. Army tank, She pointed out that the basic difference "It is perfectly obvious that if bill should become law. She asked for the country's young people at left, continues to mow down buildings obstructing gun emplacements. (See between the conflicting political Ideologies was some individuals do not wish to Henriksen said later he wai "more opportunity, more thought, much more ttory, page 15). (AP Wirephotol ret] care*and.;. more inspiration. -the contrast in values plated on human •beings. participate in (the law) , .. they president of the Sunny Side could not fulfill their obligation "You would find less delinquency if every (See MCOSS, page 3) Farms nursing home In Wall as members of the medical pro Township, Monmouth County, but fession," he said, he had never received a pent of New School Building Debate Continues profit from the home. In Summit, the medical stafl Meanwhile, the quarrel over the executive committee of Overlook declaration, signed by some 200 Hospital announced it would no New Jersey physicians, contin- support the - doctors' boycott of ued today with doctors opposing the King-Anderson bill, despite its Explain Kindergarten Plan doctors and a labor leader re- Plan for Telegraph Hill opposition to the measure. turning to the fray. And the Ocean County Medical FAIR HAVEN — Neatly 30 par-to the problem of increasing The board has indicated thi At Beth Israel Hospital In New- HOLMDEL — Various means, change would affect the bor- interchange at Red Hill Rd., Society, in a Wednesday night «nts of children who will enter school enrollments may rest In plan to. house^ - kindergartei ark, where it was believed some from petition to harassment, to ough's road improvement pro- Middletown, was evaluated by the meeting of some 35 members, re- kindergarten here next Septem- the construction of new school classes in the Youth Center, Flsl doctors joined in the boycott keep the New Jersey. Highway gram, but reported "we are on Monmouth County Board of Free- portedly refused to endorse the ber last night received a briefing facilities. St., is likely to be a one-yea; threat, the medical staff as a Authority from closing the Gar- the road to carrying out the pro-hoders, the Red Bank Commun- boycott and instead • tabled the on a Board of Education proposal stop-gap arrangement. whole adopted a resolution read- den State Parkway's Telegraph gram and will,gain speed within ity Chamber of Commerce and M. J. Scanlon,'239 Hance Rd,, Henriksen resolution; to house the pupils in the Youth 'Be Realistic' ing in part: Hill Interchange were proposed the next six or eight weeks." authority personnel themselves. urged the board to develop more Dr. Henriksen, chief of surgery Center. Referring to the increasing en It is resolved that the medica before the Township Committee The, authority had announced specific projections with an aim at Point Pleasant Hospital, began The Highway Authority sudden- rollments and lack o[ adequal staff disassociates itself from the last night. it would close the Telegraph Hill Several o( the parents told toward creating permanent fa- circulating the declaration mor ly announced last Thursday the classroom space in the existin alleged action by individual area when the proposed inter- board members a better solution cilities. than a month ago. The authority has announced entrances and exits to the park- schools here, Mr. Scanlon sail anonymous members of- this1 stafl change was opened. Bell Labs Dr. Zinkin, president of th plans to close the entrance and way at Telegraph Hill, would be "Let's be realistic and not liv and officially consider such ac- sought to have the area kept medical staff at Lakewood' exit—but last night Mayor James shut as soon as possible to all a lie." tion unethical and linbecoming open while favoring a new inter- Paul Kimball Hospital, said he H.