The Leonard Graphic (Leonard, Tex.), Vol. 67, No. 15, Ed. 1 Friday, February 17, 1956 Page: 2 of 8
This newspaper is part of the collection entitled: The Leonard Graphic and was provided to The Portal to Texas History by the Leonard Public Library.
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1776
1956
THE LEONARD GRAPHICS ids; February 17, 1956 <
We Give United Trading Stamps
GRIMES BROS. SERVICE STATION
TEXACO PRODUCTS
Phone 222 Highway 69 Leonard
THE LEONARD GRAPHIC
Lunchroom Menu
Publisher
Jean D. Toney
FEBRUARY 20-24
Published Every Friday
Mr. and Mrs. M. D. Hayley,
visited Mr. and Mrs. Dean Hay-
ley and son in Dallas, Sunday.
Mr. and Mrs. Claude Howard
visited friends in Blue Ridge,
Saturday night.
MURPHY CHEVROLET CO.
Phone 264 Leonard, Texas
The Bel Air Sport Sedan-one of 19 new Chevrolet beauties. All have directional signals as standard equipment.
Entered as a second class matter April 12, 1890, at the post
office at Leonard, Fannin County, Texas, under the Act of
f ’ongrress March 3, 1879.
Subscription Prices
I year in Fannin and adjoining counties-----------$2.0(
1 vear Alswhere m TTni+pd States ________ J»2.5^
Resolutions of Respect, Readers, Business and Professional No-
tices will be charged for at the rate of 10c per line. Cards ot
Thanks will be charged for at a minimum of $1.00 for TOO word*
or less, in excess of that aineunt at the rate of 1 cent per word.
NOTICE—Any erroneous refleetion upon the character, standing
or reputation of any person, firm or corporation which maj
appear in the columns of this paper will be gladly corrected whei.
personally brought to the attention of the publishers.
Study Courses At
Baptist Church
February 20-24
On Monday, February 20, at
7:30 p. m., the Baptist Churches
of Fannin County will hold
simultaneous study courses. The
First Baptist Church of Leonard
will be host to the following
churches of this area: Randolph,
Bailey, Trenton, East' Shady
Grove, Valley Creek, Chapel
Hill, Antioch and Spring Creek.
A number of courses will be
offered and each individual will
make his own selection.
All the Baptist people in this
area of the county are invited to
attend these training sessions.
Dicky Saye Is
FFA Treasurer I
I
Dicky Saye, Celeste, has been
elected treasurer of Future Farm-
ers of America collegiate chap-
ter at East Texas State Teachers
college.
Saye, senior agriculture ma-
jor, is the son of Mr. and Mrs.
Wesley Saye route 2, Celeste.
Mr. and Mrs. Buddy Spradlin
and son of Garland visited Mi’,
and Mrs. Claude Howard over the
week end.
Mr. and Mrs. John Spradlin of
Lcckney visited Mr. and Mrs.
Claude Howard and family Sat-
urday.
-INCOME TAX FACTS No. I----------
How to Save on Your Income Tax
(This is one of a series of articles on federal income tax
filing The articles are based on information provided by the
American Institute of Accountants and the Texas Society
of Certified Public Accountants.)
The eve of April 16 will see a mad scramble In many households to
1 out together the necessary facts and figures for the federal income tax
i returns due on that date. (April 15 falls on a Sunday this year, making
(April 16 the deadline.)
! The last minute rush produces
1 not only long lines at Internal
(Revenue Sarvice-- offices, but also
i many careless mistakes by tax-
Inayer’. /
r Most of the errors are very sim-
• pie. For example, about one million
| returns are filed every year with
i signatures missing. (This includes
• joint returns with only one signa-
j ture and individual returns with no
I signature at all.)
Little slips in arithmetic last year
; resulted in overpayments by tax-
‘ payers of $18,000,000. Taxpayers got
i back these overpayments eventually,
(after the government discovered the
mistakes, but the taxpayer cannot
■ rely on the government to save him
i from all hie errors.
j The mistakes of arithmetic favor-
ing the taxpayer were even larger—
; perhaps not entirely by coincidence.
! All returns are checked, and when
‘an underpayment is discovered the
government not only collects the
difference, hut also charges interest.
’ Opportunities Overlooked
Apart from obvious mistakes,
many taxpayers overlook opportuni-
ties to claim exemptions and deduc-
tions, and other ways to reduce
■ their tax.
In order to help you avoid such
pitfalls, this newspaper is publish-
ing a series of articles prepared
with the help of the national and
Estate organizations of certified pub-
'lie accountants. These articles — if
you save them and use them along
with the official instructions that
come with your tax forms — may
save you money.
Your first step is to consider
whether you should file at all, and
then what kind of a return to file.
For income tax purposes you are
not required to file a return if your
gross income in 1955 was less than
$600, or if you are 65 or older and
had less than $1,200 gross Income.
But if you had income from self-
employment of $400 or more, the
return must be filed for social
security tax purposes.
Don’t forget that tax on salary or
wages may have been withheld dur-
ing the year by your employer, even
if your income was less than $600,
and the only way to get it back is
to file a tax return.
Advantage of Joint Returns
A common mistake is the filing
of a separate return by a wife who
had a small income. If the wife files
a separate return, she is not per-
mitted to file another return jointly
with her husband, nor is her hus-
band allowed to claim an exemption
for the wife on his separate return.
Most married couples will save
money by filing a joint return, as
this "splits" their income to put
them in the same bracket as though
each of them had received halt the
total income.
There are unusual cases, however,
such as those involving capital losses,
in which separate returns might
result in a saving. If this is a
possibility, »it is best to figure both
jointly and separately before decid-
ing which way to file.
The instructions that come with
your tax forms give further infor-
mation. Help is also available from
the Internal Revenue Service, which
urges you to consult a properly
qualified advisor if you need outside
assistance.
Next article: Save Money with
the Right Form.__________
GIVE US A CHANCE TO SERVICE YOUR CAR
ly, impossible to police this
factor. Result is largest recipi-
ents of their allowances either
use them to reduce prices of the
merchandise to injure smaller
competitors, or throw them into
operating profit. Nfl
* * ♦
Few years ago when Justice.]
Dept, successfully prosecuted jfl
major retailing organization, S
was shown in one year heaJM
quarters of the firm recei^B
over a million dollars irr coopeM
tive allowances which were^H|
verted into operating profit.
* * *
Thus, pattern has been estab-
lished whereby attempts are
made to “shake down” suppliers
for so-called cooperative allow-
ances with the threat, veiled or
open, that if they don’t, their
competitors will.
* * *
On other side of coin, there are
also packers and manufacturers
who attempt to buy their way
into certain retailers with offers
of generous allowances.
* * *
Unlike legitimate advertising
which through moving goods
produces more volume, and thus
more jobs, the so-called coopera-
tive advertising allowance is
really a burden on the consumer.
Because most packers and manu-
facturers know they receive
little, if any, value from coopera-
tive advertising, they merely ad-
just' their price schedules so
that their selling prices reflect
their allowances. Thus, public
pays freight for cumshaw.
* * *
While it is considered quite en-
couraging that FTC has stepped
into this situation at long last,
it is quite possible the time that
will be consumed on this one case
with illustrate futility of expect-
ing any government agency en-
forcing cooperative allowance
regulations on a realistic scale.-
* * ♦
Thus, it is possible this case
may point quite graphically to
need for outlawing ail coopera-
tive allowances.
Monday
Tuesday
Wednesday
Thursday
Friday
Gravy
leans
Milk
Butter
Blackeyed Peas
and Tomatoes
Green Salad
Butter
/n
Texas
Cheese Slices
Macaroni
Tossed
Cornbread
Graham Cracker Peanut
Cookie
Orange Juice
Cheese and Macaroni
English Peas
Lettuce and Tomato Salad
Bread Butter Milk
Fruit Pudding
Pork Gravy Dressing
Carrot, Cabbage, Apple Salad
Green Lima Beans
Cherry Cobbler
Bread Butter Milk
Pinto Beans Escalloped Potatoes
Cole Slaw
Bread Butter Milk
Pineapple upside-down Cake
FEBRUARY 22nd IS
US. ARMY RESERVE DAY
Hamburger Steak
Corn Green B
Tossed Salad
Rolls Butter
Fruit Jello
Bargains Galore at Wilson’s Store
Look For “Special Red Tags
J. R. WILSON CO. — LEONARD
They Tel! a Flippy Story for February
A daughter was born Sunday,
February 12, 1956, at Allen Mem-
orial Hospital in Bonham to Mr.
and Mrs. L. R. Bradley of Leon-
ard. She was named Janice
Kaye.
Grandparents are Mr. and
Mrs. Lou Bradley of Trenton and
Mrs. Haux of Kansas City.
advertis-
*
is an
in-
t o
cusio-
Of great interest to every in-
dependent retailer, Federal
Trade Commission has filed com-
plaints against two big food
chains in Washington and Phila-
delphia, charging them with ob-
taining discriminatory
ing allowances.
* ♦ *
At the same
time, 11 sup-
pliers are cited
under Rob in -
s o n - Patman
Act -for giving
preferential al-
lowances
limited
mers.
* *
There
additional
teresting facet to this case. In-
stead of invoking Robinson-Pat-
man Act against the two chains,
FTC invokes hitherto Section 5
of FTC Act hitherto never been
used to prohibit buyers from
knowingly inducing sellers to
give them favorable prices.
* * *
Thus, FTC acknowledges it has
powers never before used.
* * *
This case could be most im-
portant in American business
history. It could even lead to
outlawing of all so-called coop-
erative advertising allowances.
* * *
Many observers of the retail
business long claim without use
of so-called cooperative adver-
tising funds, big retailing organ-
izations could not hold their own
against aggressive independent
retailers.
* * *
Theoretically, cooperative ad-
vertising or display allowances
are offered on equal basis by a
supplier to all, usually based on
quantity of goods handled. Use
of these cooperative funds are
also theoretically accounted for,
so that value is received for
money given.
* ♦ ♦
However, in actual practice it
is found almost, if not complete-
© National Federation of Independent Business
Get a
record-breaking
run for your
money!
Only Chevrolet puts you in charge of the dynamite
action and sure-fire handling qualities it takes to
break the Pikes Peak record! Better try it before you
plank down your dollars for any car at any price.
Almost everybody likes a real
road car. And nowadays you no
longer have to pay a king’s ran-
som to own one. They’re going
at Chevrolet prices!
plus other things that make for
more driving pleasure and safety
on the road. Come on in and
try the record-breaker!
For the new Chevrolet is one
of the few truly great road cars
being built today! It has to be
to hold the stock car record for
the Pikes Peak climb. It has
to have cannonball acceleration
(horsepower now ranges up to
225!) and nailed-down stability
on turns. It has to have easy,
super-accurate steering, too —
.WASHINGTON AND
"SMALL BUSINESS”
By C. WILSON: HARDER
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The Leonard Graphic (Leonard, Tex.), Vol. 67, No. 15, Ed. 1 Friday, February 17, 1956, newspaper, February 17, 1956; Leonard, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1207397/m1/2/?q=wichita+falls: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Leonard Public Library.