Mt. Vernon Optic-Herald (Mount Vernon, Tex.), Vol. 88, No. 15, Ed. 1 Thursday, December 28, 1961 Page: 5 of 8
This newspaper is part of the collection entitled: Mount Vernon Optic Herald and was provided to The Portal to Texas History by the Franklin County Library.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
STRIKES A
i JOYEUl '
? NOTE
AND YOURS
FOR YOU
EVERY DAY
WE HOPE
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Gus Presley Grocery Co.
MOUNT PLEASANT, TEXAS
—
IS
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?ent Christ-
nnJ familv '
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and family
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continue to
May we
you
Year.
Highway 67
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David
>
Henderson,
thousand
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New Year’s Appreciation
SPECIAL SALE!
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*
Price
'/l
Price
4
Reduced—One Group as Low as—
2995
In Lou Wool Brown—23 to 28-inch Leifeths
♦
1
Price
2
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All Sales Final
se
I
MRS. DAVID BOLGER
II
M
4
May 1062 abound with all
the good things for all of
The business you've built
by hard work
can be lost by accident
All Fall and Winter Wool
Sweaters & Skirts
AT DOWN.
TO-EARTH RATES
Penn had
Mrs. Cleave
Sunday.
avis had all
through the
n of Mr. and
recently pro-
’ captain in
tationed- His
en are there
sident of the
Davis had
r Christmas.
Perry, Mrs. Lawrence Bridges, and
Mrs. Janell Irwin.
The next meeting will be with
Mrs. L. L. Scudder January 11.
Solomon of
olidays with
Mrs. E. S.
dollars, when the daughter decides
to sell the farm for its $50,000
value, she still has to pay income
L3
3
Three Arts Club
Entertained By
Mrs. Hubert Glaze
The Three Arts Club met with
Mrs. Hubert Glaze for the annual
Christmas Party.
Gifts from under the tree were
exchanged.
Mrs. Berneice Teague led the
group in singing Christmas Carols.
Refreshments were served to 16
members and four guests.
The guests were Mmes. Richard
■.
FITZGERALD
Garden Center & Gifts
Phone PA 4-4396 Mt. Pleasant, Texas
A FEW
MOUTON COAT
I 50
P«r
person
double
occupancy
EUROPEAN
PLAN
I -
I state.
| logy
er, Sull
Joe Cow
anlster
►
fW Wishes for the fe tfear!
Christi
I
prise to some
government levies a tax which ap-
X
are:
Crockett.
tion of the general public to Feb-
ruary as American History Month
we are encouraging them to re-
member and appreciate what they
now possess.”
It has been said: "Poor is the
nation which has no heroes, but
beggared is the nation, who hav-
ing them, forgets.”
Parker of
istmas with
na and visit-
Ned Giddens
According to the National Water Institute, the tide of pollution
can be stemmed by planning ahead, by recognizing the enormity of the
pollution problem today, and realizing what it may be in the years
ahead if adequate pollution control facilities aren’t constructed now to
meet future needs.
By intelligent protection of water resources against pollution, the
inevitable mounting demands for water in a growing nation and a
growing economy will be met.
/•< A
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.^5
W*
F EXCELSIOR SPRINGS
M4^S1QU-P ' XI.....
• and Lola
re Mr. and
and Jackie,
Corley and
Torace Cor-
fc. Wallace
G. G. Orren, Edcouch; Mr. and
-— —11 S/maori? Mount Vehnon,
Mr. and Mrr’ CeCfl King and
Myrtle DbVia, Purley; and itay
Johnaon, Dallas. ■ ; ‘
Afternoon and evening vlsltora
■f ’■ -i ■ - (. r - >
She showed a cutting pf the proper
type and told how to knot it.
Mrs'BIli Allen retuiWfflftAfrC
afternoon to her honje in PhMML
Aria-, after attending her brtth^C
Bernie Bolin, who has been ^rl*
ously ill.
......
/%? * I
" «. Mr. aad Mew
and Mrv Edgar_J*ggw. Beaumont; in Houston ,i
wlft.
Every day your business is threatened by hazards which might completely
wipe out all your years of hard work. Are you sure you’re well protected?
A thorough insurance survey and study of your operations will uncover
your serious loss exposures and show you how to protect against them
at the least possible cost. Call us for this free service.
Mt. Vernon Insurance Agency
Mt. Vernon, J, A. Banister, Owner, Dial LE 7-4034
Representing
HARTFORD
Fire Insurance Company • Hartford 15, Conn.
'“HEALTHS FUN
All Wool Suits V>
Reduced—One Group as Low as......................... • ™
Cranford
MRS. STELLA CRANFORD i
—' ■> ------
May Be Taxable”
Alt&gugh ,lt may come as a sur-
ile, the federal
Boys’ and Girls’
CAR COAT
Reduced—One Group as Low as. ..
‘Mr dA fife J L. King of Ptrf-
ley entertained frientb and
Those attending were Mr.
Mrs. Joe Cowaer, Uvalde; Mr.
Mrs. Loy Orren, Channelview;
serve you through the New
] ness
date of the decedent’s death.
An example will show the ap-
plication of the rules.
h
en who have helped this country
’*1’
wo Time* In
Member
The Mt. Vernon Garden Club
met Baeembar 19 for the annual
Christmas party- The home of
Mrs. Henry Lee was decorated for
the affair. .
Mrs. Horrls Morris, president,
presided at a ahort business ses- TaRi
• sion and reported that the Christ- Mrs’ Fete Joh
mas pilgrimage and tea hnd the
sale of Christmas wraps were a
success. Mrs. Calvih Tom, civic
beautification chairman, announced
that 500 tulips were ready to be
planted on the Plaza Square.
Mrs. Raymond Young told the
Christmas legends of the pine tree,
Star of Bethlehem and the chry-
santhemum.
Members exchanged gifts suit-
able for garden club work. A gift
was presented to Mrs. Eva Roun-
tree, honorary and Golden Age
Club member, by the club.
Each member brought an extra
gift to be presented along with a
decorated tree to an elderly de-
serving couple.
The home of Mrs. G. W. Ruther-
ford was decorated for Christinas
when the Garden Club met there
December 5.
The club's president, Mrs. Hor-
ris Morris, read a card from Mrs.
George Foltz, District III Gover-
nor, complimenting the Mt. Vernon
Club's yearbook. Christmas wrap
paper, made by the Lighthouse for
the Blind and a Texas Garden Club
project, was given each member by
Mrs. Morris, to be sold.
Mrs. Bill Meek’s subject, "Mech-
anics and Conditioning Flowers for
Arranging,” was very informative.
She gave several handy tricks to
use in the mechanics of arranging
and said that flowers should be
gathered either early in the morn-
ing or late in the afternoon and
placed in deep water for several
hours before arranging. All foli-
age should be removed from below
the water. Listerine or household
bleach were sometimes used to pre-
vent decay or the smell of mari-
golds.
Mrs. Calvin Tom gave a brief
review of a book on peony culture
and discussed the growing and pro-
pogation of camellias. She dis-
played several different sasanqua
and Jayonica Camellia specimens
that she grew. Mrs. Tom stated
that the sasanquas are easy to grow
as well as being beautiful and
should be planted in more yards.
IRr. However, the govern-
u jrs no desire tb tax Ordt-
nuary birthday and Christmas
gifts. The law therefore excludes
from taxable gifts the first $3,000
given fp each individual in each
calendar year.
The law allows each giver an
over-all exemption of $30,000 be-
fore the tax applies. In addition,
gifts to the church, community
chest and similar charitable organ-
izations are excluded from taxa-
tion.
The tax applies whether the gift
is of money or property. If it is
of property, the tax is computed
on the fair market value of the
property at the date of the gift.
The purpose of many gifts is to
remove the property from the tax-
able estate of the giver at the time
of his death. This may or may not
be accomplished. The federal law
provides that transfers made with-
in three years before date of death
shall be deemed to have been
made in contemplation of death |
and shall be taxable in the estate
of the one who dies.
It may be advisabel to "look a
gift horse in the mouth," for the
gift may cost the one who receives
the gift in income taxes as well as
the giver in gift taxes.
For income tax purposes the
i cost basis of property received by
gift is the cost to the giver, plus
the amount of any gift tax paid ton, D. C . in April
The other of
Xi=^’-==ll 7
SOOTHING (
MASSAGES I
Je'kjha^0 HOTEL ond BATHS^
^JWtELEPHONE: .
/ y MEdford 7-3181
HEALING
— mW’ * * V Vstf***
gifts made £y one persbh' tax on about $40,000 profit (the
difference between the sales price
and her father’s cost of $10,000,
less1 the amount of any gift tax
he may have paid).
On the other hand, if the farm-
er had not given the farm to his
daughter, but had left it to her un-
der his will, he would have saved
the gift tax. The daughter would
have taken the property at a cost
basis of $50,000, so upon the sale
she would not have had to pay any
income tax.
I Of course, there would have
been some estate tax and adminis-
tration expenses in the father’s es-
tate, but that would have been
much less than the total gift and
income taxes which resulted from
the gift. However, depending up-
on individual and particular cir-
cumstances, there may be occasions
when a gift is advisable. Your
laiwyer can advise you on this mat-
ter.
(This newsfeature, prepared by
the State Bar of Texas, is written
to inform—not to advise. No per-
son should ever apply or interpret
I any law without the aid of an at-
Itorney who is fully advised con-
cerning the facts involved, because
a slight variance in facts may
change the application of the lawi.
D.A.R.—
Continued from Page 1
A first prize i nation,
with respect to the gift. The other of a U. S Savings Bond will be For. as President Kennedy stated, "Pollution of our country's
rule is that in case of property re- given for each gr^de hy the Na- rivers and streams has—as a result of our rapid population and in
ceived by inheritance, the cost ba- tional Society as well as a total of; dustrial growth—reached alarming proportions.”
sis is the fair market value at the 28 prizes of historical books on the I
Close - Out On Other Items
Check Our Stock First
ien m no na\e neipeu mis luuiniy
i become what it is today are an in-
ispiration to all of us." The choice
for your essay may be man or wo-
|inan from any profession or occu-
pation and from any period in his-
tory has contributed to the great-
of this nation. The major
part of your figure’s life should
have been spent in your state for
lyou to claim him or her for your
There is a wealth of bio-
frorn which to choose in ev-
ery library. Read wisely and be-
come so vvell acquainted with your
particular figure that you will
make his or her accomplishments
live again in the minds of your
readers," stated Mrs. Kenneth G.
Maybe, national chairman, DAR
History Committee. "By encour-
aging our young people to study
the lives of our historic men and
women, we are guarding against
their forgetting. By calling atten-
ghthehoU-
Mrt. Bi <. V i
Bathe your way to Health at the Royal Hotel and
enjoy yourself, too. 150 modern rooms, Roof
HEALTH BATHS Garden, planned recreation. Coffee Shop. In
heart of shopping center, near all sports Includ-
ing 18-hol^ Championship Golf Course.
Write:
/s H. T. Torpey
I ) Box 1004
i f- I / Excelsior Springs,
Missouri
ALtTH/$.
r L ANO MORE.
lil®
I Nevertheless, the prospects of national growth seem unlimited,
division levels. I II this growth is to become a reality, each of us—in our local commu.
Suggested subjects for the es-1 nities and regions—will be faced with challenges of vast proportions.
Suppose a says by Texas pupils are: Sam
*' farmer acquired his land in the Houston, David Crockett. Anson
early days at a cost of S10.000. Jones, Ben Milam, James Bowie,
-«-Tljis property is now worth $50.- Deaf Smith. Stephen F. Austin, J.
rnfr, -"Wt^wYarmer wishes to retire Pinckney Henderson, David G.
and to escape estate taxes, so he Burnet. William B. Travis, Thorn-
gives the farm to his daughter. |as J. Rusk, and Mirabeau B. La-
Although he may paj’ federal gift mar.
taxes totaling several thousand “The lives of the men and worn-
vWy ■ '1
Bolger
Phone LE 7-6616
Is This Tidal B are Engulfing
Your Town?
Keeping our tap water safe is something that should concern all
of us. Because of the population boom and mass movement to the
suburbs, the problem has become even more crucial and challenging
to communities everywhere.
A great burden has been placed on our sewage disposal and
water purification facilities—some of them antiquated and others in-
adequate. How we meet the need for additional facilities to provide
I proper sewage treatment may well decide the future growth of the
• 1959 Chevrolet Bel Air 4-D<Mlr Sedan
V-8 engine. Power Glide, radio, good tires. OK
Warranty.
• 1956 Chevrolet 2-Dooir Sedan
Six-Cylinder, standard shift good tires, radio and heater.
OK Warranty.
• 1955 Ford Pickup
Custom cab, heater, rear bumper, V-8, one owner.
• 1960 Chevrolet Impala 4-Door Sedan
Air conditioned, power steering, automatic drive, radio,
heater, E-Z-I glass and other accessories. One local owner
can verify condition and mileage. An outstanding car in
every respect. OK Warranty.
"7“““"’■““^77“’aS"
• 1960 Chevrolet 2®o* Sedan
Economical 6 engine, standard gearshift, radio, heater and
good tires. A nice clean OK Warrtj^y.___________
' -
All cars represented exactly as they are
TEAGUE AND SON
CHEVROLET CO.
DIAL LE 7-2242 MOUNT VERNON
CARS
F^USED
USED
CARS
★ Reconditioned Right
★ Priced Right
a
■ 1
-1
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Bass, James T. Mt. Vernon Optic-Herald (Mount Vernon, Tex.), Vol. 88, No. 15, Ed. 1 Thursday, December 28, 1961, newspaper, December 28, 1961; Mount Vernon, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1277838/m1/5/?q=waco+tornado: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Franklin County Library.