The Alto Herald (Alto, Tex.), No. 32, Ed. 1 Thursday, January 19, 1956 Page: 4 of 8
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THE ALTO HERALD. ALTO, TEXAS. JANUARY 19. 1956
H
STARITAX
RECORDS FOR
USE NEXT YEAR
r***^
There is no time like the pres-
ent, while last year's tax prob-
lems are fresh on your mind, to
start a procedure that will aid
you with next year's income tax
calculations. That is to maintain
a record of ynur income and out-
go. Such a record can be simple
and brief but it may save you
tax dollars.
The average man who works
for a wage or salary doesn't hnve
to concern himself about keeping
books and records at least so he
thinks. His employer keeps a re-
liable record of his earnings and
Uncle Sam looks primarily to
the employer forinformatinon
his earnings and for the with-
holding of various taxe out of
his wages.
But whether or not you 'una
business of your own. you have
a partner who each yen" is claim-
ing a substantial nter.-s in.voir-
persona! income. And '"la-.
requires that you keep bcnks: jr
him in case he Tver for an ) cap.tat it
accounting. ! add to your income ta?
Pchapsyou own your home or,'^'as-.nj t< . <ro
are paying it out in ins'allmen'.^. j duce your income tax.
It's likely that some day you j n r.-e n.a
may sell that hot) e. When you do t-. pita! it. ^rovett -
you'll want to be able to prove { house while you iived in it. but
whether you realized a gain or a ! unless you can show what out- I as a gift from your father
loss on that sale. If a gain in I of-poeket expense you
HAH. M m 200.000 Japanese cross bridge to Tokyo's Dmperiairaiaccto greet
Emperor Hi nhito on \ew Yea.-'s Hay. The Emperor appeared on the palace baicony nine times to
accept their greetings.
wii
li
wi
c<-i .a.:i 'toss.
the
!
MARSHALL 3YNUM
ELECTRICAL CONTRACTOR
REA Commercia! & Residential Lighting
Compiete Stock Of
LIGHT FIXTURES. ELECTRtC MOTORS, WiRING DEVICES
tiectr'ca! ^Voih
h. ' 'inkin!,thk'.ii..' OU [liny not you've purchased is a receipted
. ct crefiit for t.iem in your ejst biil or cattceled chc.!^. If one of
- basis so as :o prove that you had : these pieces of cvic'j:icc relates
j 110 capita, gain or that you had a j any transaction that may affect
your income in later years, it's a
Or perhaps you received that gootl idea to keep it. Your
li'.t'e summer cottage on the lake,, . ,.
"pardner may some oav ask to
If you ; ^
incurred ever sell t. you should be able to
' " U:t-!- S:"11 not only the c!<s: j —
of improvements you ma le on ;t
while you owned it, but alsol^E^^^H^7*/V7A'G
what its fair market value was at
the time Dad gave it to you.
j It may be that you are re-.
_ ! lookers present when construction
was started on its new building
nx::
I
! Council Bluffs,
pating the usual
Iowa.—Antiei-
crowd of on-
't Don't Do At) Of The
) Do Onty The Best "
PHONE 184
=MC
ALTO.TEXAS
] ceiving an annuity on an in
surance policy. If so. do you
know how much that policy costs ^ here, the First Federal Savings
you and how much of that cost ] snd Loan Association distributed
you have recovered tax-free to ' small card;, certifying that the
! date? I bearer "has been duly elected to
There arc many kinds of trans- an exclusive charter membership
actions you enter into that may i in the Council Bluffs chapter of
some day affect the computation ! the Society of Sidewalk Engi-
of your personal income tax. The j neers and Superintendents of
^ best proof of the cost of anything . America."
Nobody m&Behes
Fords
pewer
w
Ford's Thunderbird V-8 e'^ine.
the standard "8" in Fairlanes and Station
Wagons, is the most powerful "8" in its
field of /to exfra cos^. Ford has built more
Y-8's than all other makers combined!
and Nobody K tatchc
# In virtually every model, a Ford . .
equipped the way more and more people
want it. . . costs less* than any other
full-sized car in America! Come in and
Test Drive the Ford in your future!
*Rase<f on a compcr/son o/ su##fsfef? ?ts( prtcea.
BY HELM HAtt
BRUNT WH!TEMAN MOTOR COMPANY
Phone 87 Aito, Texas
NO COMMENT
Washington. — Those of you
who are counting on collecting
social security benefits when you
become 65 would do well to pay
more than passing attention to
social security proposals now
pending in Congress.
There is a substantial group in
Congress who are fearful that
some of you may not collect un-
less the present tendency toward
increasing benefits and broaden-
ing coverage is restrained.
This group of Congressmen i*
afraid that the tax rate will be-
come so high to pay for bigger
and expanded benefits—that the
public will balk and the entire
structure wit! collapse.
Tha big fight will be over a
bill—which swept through the
]f,m e-—to provide benefits to
women at (!2 instead of 65, to
provide disability benefits.
To finance theprarram. the
tax <"i employers and ."litiloyc^'
would be raised at on"" from 2
pet. to 2'/ pet. on each and bv
M'75 would jttmp to 4'j pet. cn
employees.
This program admittedly is a
"foot in the door" proportion, j
Tli'tren'ob.'ect'vcis a full-fed-
eral disability program and ben-
efits to women when they be-
come 60. And. for this purpose,
those over fin. and to exten t cov-
erage to most of the self- em-
ployed you can be sure that most
women will admit bein? 10.
The ram was conceive t by;
Democratic members of the
House Ways and Means commit-
tee. It was intended to embarrass
the Eisenhower Adminis'^ation
and to encourage votes for D"mo-
crats in next November's elec-
tions.
So far as the House was con-
cerned, it was a huge success,
passing by 372 to 31 vote. Repub-
licans jumped uneasily on the
bandwagon, fearing that a v.ta
in opposition would jeopardize
their political future.
Democrats on the ways and
means committee had turned
down Republican requests for
public hearings at which the
multi-billion-dollar cost and the
other dangers of the legislation
could have been emphasized.
NOT SO FUNNY
Lexington. Ky.—Two young
boys could have been tiekled by
'ha after-school assignment they
v'*c.i a juveni'e court of-
ficial ordered them to pick up
more than 100.000 feathers they
h r' scattered breaking into
storage house. They didn't think
it so funny.
CUVERED green beans are
tempting when they're cookod
with a teaspoon of sugar In the
water. When just done, season
with salt, pepper, butter and a
dash of cream.
Welsh rarebit is a wonderful
dish for a cold night, as anyone
knows, but what about adding a
RKCH'E OF THE WEEK
Speedv Rice Casseroie
"Serves 4-6)
2 cups cooked rice
2 teaspoon minced onion
I can condensed troam of
mushroom soup
% cup water
% cup chopped parsley
H cup grated American cheese
Combine rice, tnion. soup,
water and parsley: mix well
Pour into greased [-quart cas-
serole Sprinkle with cheese
Bake in a moderate <3.'.a]-'t
oven for 15 minutes
can of saimon. drained and ;)u).ed
to the rarebit to make itn„„e
substantia) and delicious wtn.n
appetites aie ravenous?
An elegant sauce for a green
vegetable such as broccoli, a^par-
agus or green beans in a cup of
rich cream heated and seasoned
with salt and pepper. Add to it
two hard-cooked riced eggs and
blend thoroughly with the cream.
There is not a ham sandwich
ttmt can t be Improved by adding
^ °' P'S'Cd ""
top of the ham before you put on
the second slice of bread. H you
prefer, why not place a layer of
cold sole on the ham? Either of
these foods add a wonderfut criso-
ness to the sandwich.
Canned pears made into a des-
ert are luscious. Grata ,ome can-
died ginger over them, ton with
vanm. cuat.rd puddi^ and some
caramel sauce.
MO
Reserve District No. 11
Report Of Condition Of
CONTINENTAL STATE BANK
A
of Alto. Texas, at the close of business December 31. 1H55, a s-,. but
banking institution organized and operating under th, . jjNH
laws of this State and a member of the Federal Hescn S;.. - CS
Published in accordance wtth a call made by the State B ,:. . ^
thorities and by the Federal Reserve Bank of this Dist:. '
ASSETS
Cash, balances with other banks, including reserve
balance, and cash items in process of collection $ 47).
United States O vernmcnt obligations, direct
and guaranteed
Obligations ol States and political subdivisions
C'orpon.'c stacks (including $2,830.00 stock of
Federal Reserve bank)
Loans and discounts (including $445.31 overdrafts)..
Rank premises owned $1.00, furniture and fixtures $1.00
Rcai estate owned other than bank premises
Other assets: Prepaid Insurance
3M
lti.t)
425
3CCO
tary
mis:
A
the
what
TOTAL ASSETS
$1.27.
LIABILITIES
Demand deposits of individuals, partnerships,
and corporations $1,118.:
Dcpo i s oi Ln ' a States Covernnien; (including
postal savings) 2
Lepo;tsot Sta:\s and ])olitical subdivisions !:
Other deposits (certified and olticors' cheeks, etc.)
TOTAL DEPOSITS .. ...$1,144,777.62
TOTAL LIABILITIES - $1,144 !
CAPITAL ACCOUN TS
Capital' $ 50.00!.!
Surplus 50,OM
Undivided profits 32.4S-,
TOTAL CAPITAL ACCOUNTS -$ 13144
TOTAL LIABILITIES AND CAPITAL ACCOUNTS $l,27:.2t,
*This bank's capital consists of:
Common stock with total par value of $50,000.00
I, James Blanton, Cashier of the above-named bank, her}
certify that the above statement is true to the best of my kiio-sk
and belief.
James Blanton.
CORRECT—ATTEST
Mclvin Sessions Rube Sessions T. D. Little S. F. Harr.
Directors
State of Texas County of Cherokee ss:
Sworn to and subscribed before me this 7th day of January, 19;
O. T. Allen,
Notary Public, Cherokee County, To
RICHARD M. JOHNSON
Insurance
t IFE
HOSPiTALtZATtON
Alto, Texas
POUO
Tet. 1008 L!
VISIT US FOR YOUR
WHERE A BACKGROUND OF MA\"
YEARS OF EXPERIENCE AND DE
PENDAB!L!TY ALL ADDS UP T(
VALUE AND SATISFACTION FOf
OUR MANY CUSTOMERS.
ALLEN DRUG STORE
Mrs. Coy Mae Allen, Prop.
PHONE 46
ALTO. TEXA!
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F. L. Weimar & Son. The Alto Herald (Alto, Tex.), No. 32, Ed. 1 Thursday, January 19, 1956, newspaper, January 19, 1956; Alto, Texas. (https://texashistory.unt.edu/ark:/67531/metapth215405/m1/4/?q=music: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Stella Hill Memorial Library.