20 - MANCHESTER HERALD. Sat., March 20, 1982 BUSINESS Klan plans Teacher's Halli Boston College,] I n b r ie f ' 5; to return remembered Villanova lose 8.6% Real GNP ... page 4 ... page 9 ... page 13 Hale elected Barter thrives Gross National Product ~ Seasonally adjusted annual CHICAGO — William H. Hale, president of ra te Heritage Savings and Loan Association of Manchester, Conn., has been appointed to the 1982 as mofiey tight Secondary Market Committee of the United States League of Savings Associations. Percentages reflect change The appointment was announced by Roy G. METAIRIE, La. (UPI) — Businesses ’That means members continue to earn from previous quarter Green, chairman of the league and president of and professionals are turning more and their full profit margin under the system Fair tonight Manchester, Conn. Fidelity Federal Savings and Loan Association, more to bartering in today’s depressed when “selling.” And, when "buying,” and Tuesday Jacksonville, Fla. economy, making a growth industry of the members do not have to spend cash Mon., March 22, 1982 The U.S. League is the principal trade organiza­ the centuries-old system of exchange. that could be used for inventory or — See page 2 tion for the savings and loan business and “The thing is cash flow,’’ said George capital improvements. 1982 Single copy 25<( represents over 4,000 associations throughout the Hesse, director of the New Orleans ’That television dealer who received a country. Trade Exchange. $1,000 debit will receive credits when Savings and loan associations are the second “People have inventory but no cash. If someone in the system comes to him for largest t> pe of financial Institution in America and they can spend $2,(X)0 on buying things a TV set. (Estimated) specialize in attracting savings accounts for invest­ they need, whether business or personal, Hesse, a retired Air Force colonel, 4 ment primarily in home mortgage loans. and save that $2,000 for capital or inven­ sees his job as-the bringing together of tory, this is where it benefits people who want to trade, an(j 1st everybody.” overseeing their trading to make sure 1. ... I.' - When the New Orleans Trade the debit accounts don’t get too heavy. feii?S'* Dividend set Exchange went into business five years “We send people business, and they [ ago, there were only 15 such barter agen­ build up trade dollars,” Hesse said. *4 cies in the nation. Now there are 650, Businesses in the New Orleans Trade 4. Columbia HARTFORD — At its meeting March 8, the into space executive committee of the board of directors of Hesse said. Exchange include everything from ac­ 1_______ CRT Corp. declared a quarterly cash dividend of The historic way of bartering, or countants and auto parts dealers to ' ^ 37.5 cents per share on shares of common stock of trading, is simple: If you were a cabinet printers to yacht sales. 1 the corporation, payable April 20, to shareholders maker and you wanted a calf, you would Hesse said about, 68 percent of the Ship roars off pad of record March 31. trade your work with a herdsman. trading is done for business reasons, and 1r Trade or barter exchanges take the the remainder for the personal use of the process a few steps further, making it members. -4 1 more complex but also more flexible. “We have dentists, lawyers and ac­ IRS has moved The trade exchange acts as a kind of countants waiting to get on,” he said. “I /O 4 .5% just one hour late matchmaker, broker and bookkeeper for will not take anyone on if I can’t send Revision those wishing to barter goods and ser­ him the business.” HARTFORD ^ The Internal Revenue Service vices. For its services it- requires By Al Rossiter Jr. “Boy the first part of this ride'is a has announced that its Hartford office has moved membership dues and takes a percen­ To join the Trade Exchange there is a UPI Science Editor real barn burner,’’ Lousma from 450 Main St. There will be no service offered tage of the value of the transaction. onetime charge of $200 and $100 annual reported. at the former Main Street location. dues. Hesse earns his m on^ b(r taking a CAPE CANAVERAL, Fla. - The The astronauts reported an ap­ For instance, if a television dealer GNP to decline space shuttle Columbia blasted off The new IRS office is located at 1435 High St. and needs advertising brochures, he may 7 percent commission from each tran­ parently abnormal temperature is open for business Monday through Friday from saction. The commission is charged to The nation’s Gross National Product will decline another 4.5 percent on its original launch date for the reading on one of the ship's three contact the trade exchange or contact a first tjme today and streaked into 8:30 a.m. to 4:30 p.m. Taxpayers may also use the member printer directly. He obtains, the account of the “buyer” in each tran­ during the current quarter, duplicating the drop of the last three hydraulic system power units. Mis­ toll-free telephone service by calling 1-800-343-9000 saction. A monthly bill itemizes all tran­ space on its third and toughest test sion control said it was watching the say, $1,(XXI worth of brochures. months of 1981, preliminary government estimates showed Friday. flight. for assistance and 1-800-225-0717 to request forms The transaction is recorded with a sactions, the trade dollar balance and the Fourth-quarter GNP had been reported to be down 4.7 percent, but situation closely. cash service and commission chd'rge With astronauts Jack Lousma and and publications. numbered trade exchange purchase was improved slightly In the final revision to show a 4.5 percent reduc­ A minute later controllers told the The building now occupied by the IRS at 135 High due. Gordon Fullerton at the controls, astronauts to shut down that one order that goes to the exchange office. tion. the big winged rocket ship roared St. is known to most area residents as the "Old Post There the printer gets a credit of 1,000 The tighter money becomes, the better auxiliary power unit. There was no Office Building" and is located near the HaCtford Hesse’s business gets. <" off its Oceanside launch pad at 11 danger to the pilots. “trade dollars,” and the television # a.m. EST, an hour behind schedule train station. dealer gets a debit of l,0OO trade dollars. “If everybody had all the cash he Although the launch was an hour needed, which is a Utopian type of deal,” E because of a ground equipment late, it was the first time the shuttle The printer does not have to be in the problem. market for a television set. ’The televi­ he said, “we’d be out of business.” Taxpayers pay too much had made its launch date. The first Last year the New Orleans Trade The pilots’ mission was to circle launch came within 9 minutes of sion dealer can earn credits from any the Earth 115 times in seven days, member of the exchange who wants a Exchange handled $100,000 worth of tran­ blastoff when a computer problem Payout slated sactions. HARTFORD — The Internal Revenue subject the veteran spaceship to caused a two-day delay. Flight 2 got set. causing a delay in the processing of the? - prolonged roast and freeze tests and The transactions are recorded as retail In order to make it profitable for Service has reported a common error on returns and the issuance of any expected;! to within 31 seconds before an eight- a great number of tax returns already refunds. *; carry out the most extensive scien­ day delay was called. EAST HARTFORD — Joseph P. Mott, chairman sales, although no cash changes hands. members, Hesse said, each should have tific studies yet from America’s Tax dollars must be reported for tax pur­ a profit margin of at least 30 percent on filed. James E. Quinn, IRS district direc­ The subtraction of the $1,000 exemp-r Lousma and Fullerton, wearing of the board of Mott’s Super Markets Inc. operators tor, says that many taxpayers abe failing new spaceliner. orange pressure suits, waved to poses just as any other retail sale. his goods and services. tion amount is done on lines II and 33 of ^ The spaceship, which weighed 2,- of Shop-Rite supermarkets in Connecticut and to subtract $1,000 for each exemption the Forms 1040A and 1040 respectively. ^ onlookers as they headed toward the Western Massachusetts, announced that the board claimed, and therefore computing the 239 tons at liftoff, rode a pillar of launch pad to begin their voyage. Taxpayers are urged to review their ^ yellow flame into the partly cloudy of directors has voted a 25 percent stock dividend. tax due on income greater than returns for accuracy before mailing After a quick thumbs-up sign from The stock dividend will be payable June 1 to sky, leaving a long trail of smoke in necessary. them. |; its wake; Lousma, the pilots climbed through stockholders of record May 13. The board also voted Industrial espionage Quinn also said that although the IRS a hatch in the lower deck and both For further Information people are ad-$• An estimated, quarter million the payment of a 5 cents per share quarterly cash computers have the sophistication to vised to call 1-800-343-9000 or visit a local •' were aboard at 8:41 a.m. dividend on the shares to be outstanding following recognize the error and correct it, it is spectators turned out in the warm IRS office.