The Key West Citizen Newspaper, August 9, 1954, Page 9

HAND-PICKED GRAND JURY TO CONSIDER PHENIX CITY DEATH PHENIX CITY, Ala., #—Solemn members of a hand-picked grand jury meét in secret session here teday to discover if possible who killed A. L. Patterson and to root out the fantastic factors that led to his death. After, Circuit Judge Walter B. Jones of Montgomery reopens the emergency grand jury session the 18 jurors will retire with special Solicitor George C. Johnson Jr. to consider indictments. Some 125 witnesses have been sérved with almost 3,000 subpoe- nas to give evidence which might help rid Russell County of a crim- inal colony that has proven time and again it will stop at. nothing. Patterson’s murder last June 18 touched off an explosion of out- rage that the gamblers and vice lords didn’t anticipate. Thus Pat- tétson, who was gunned down in Monday, August 9, 1954 THE Corpo (Note: This is the fifth of a seri of articles explaining how the new tex revisien bill affects indi- viduals.) By CHARLES F. BARRETT WASHINGTON (#—More than seven million corporation stock- holders will share in the most con- troversial tax cut in all the 1,000 pages of the new tax revision bill. After talking about it for years, finally has restored a special tax benefit on dividends. It will reduce revenues an esti- matéd 204 million dollars the first year, up to 363 millions in later years. Dividend income received spec- ial treatment under tax laws until 1996, when Democrats struck it out in the heydey of the “New Deal.” The new tax cut is a sym- bol of the return to power of Re- publican tax philosophy. It is far less than recommended by the Eisenhower administration, but it is still substantial and it re- establishes the principle. The tax cut is two-edged: First, you pay no taxes on the first $50 of dividends received each year. You can automatically ex- clude this $50 from your income for tax purposes. iB Speed. you get a Saxe ‘ice further direct tax cut at of your remaining dividend income. ‘ The timing is important this year. The $50 deduction applies to dividends dated last Jan. -1 or thereafter. The 4 per cent credit applies ofly to dividends received after last Saturday—July 31. There is a limit to the amount you can claim under the 4 per cent dividend tax credit. On your 1954 tax return, due next April 15, you can’t claim dividend credit totaling more than 2 per cent of your “taxable” income, which is your income after all de- ductions and exemptions—the final figure on which the tax rate is ap- plied. : In future years, you can’t claim a dividend tax credit of more than 4 per cent of your taxable income. So if: most or all your income 1s from dividends, you probably won’t be able to get the full 4 per cent credit. And you can’t get any tax cut on dividends received from mutual savings banks or building and loan associations, life insurance com- panies, “oe rieeepenia me rofit cooperatives, or mutual in- pi Fe companies. These firms al- ready are either tax-free, or not taxed as heavily as most corpora- tions. If a husband and wife both have dividend income, and they file a joint return, they can deduct divi- dends received by each of them up to $50, for a total deduction of $100. But if the wife receives $35 in dividends and the husband $65, they can deduct only $85—the $50 maximum for the husband and the $35 for the wife. Here are examples of how all this adds ap on tax returns: Say you have a family of four with $9,500 regular income and $1,000 income from dividends—a total of $10,500. Both husband and wife have more’ than $50 in dividends, so first you subtract the $100 dividend ex- clusion, leaving $10,400 in income. Then you subtract your $2,400 in personal exemptions and the standard personal deduction of $1,000, leaving taxable income of 700. Your regular tax rate would run to a tax bill of $1,460. But now you take 4 per cent of the $900 in dividends left after your exclu- sion. This is $36, which is sub- tracted from $1,460 to leave a final tax payment of $1,424. The dividend. provision saved you $58 — $22 on your $100 exclusion, and $36 on your 4 per cent cent credit. * The administration argues all this will encourage public invest- ment in stocks, and that this will ~ business expand and create ration Stockholders Will Share In Dividend Tax Change an alley a few days after receiving the Democratic nomination for at- torney general, may yet accom-| plish in death what he had ‘sworn | to do had he lived to take office. The Phenix City. attorney} pledged in his campaign to clean| up the notorious. community. | There is no telling how long the jury may be in session. State in- vestigators have dug up masses| of evidence suggesting payoffs and neglect of duty by public officials | as well as plentiful indications of wrongdoings by known vice kings. However, it is the opinion of some court sources that the grand jury will make. a partial report | within the next 10 days and return! indictments against’ many caught | redhanded in the crackdown. Early indictments may also be brought soon in the murder case. That theory was given a boost KEY WEST CITIZEN Page 9 ‘Kiss Of Death’ Is Back For Local Showing The powerful film which first in- troduced Richard Widmark to the screen, “Kiss of Death,” and stars Victor Mature, Brian Donlevy and Coleen Gray will be seen in a re- turn engagement Wednesday at the Strand Theatre, The original story for the Twen- tieth Century-Fox encore triumph is a straight-from-the-shoulder drama of a mobster’s adventures inside and outside prison walls. It was adapted for the screen by Ben Hecht and Charles Lederer, famed for their exciting plot construction, sense of drama, and pungent real- istic dialogue. Victor Mature was selected fo? the complex role of Nick. Bianco, a gangster who is tormented by a love that leads him to accept the most dangerous choice any mem- ber of the gang world has ever made. Widmark is seen in the now famous role of “Udo,” a cold, cal- loused, ruthless killer. Few actors in recent years received such hear- ty critical and public acclaim for a motion picture portrayal as Wid- mark did in this role. Brian Donlevy appears as the as- sistant District Attorney who gam- bles a man’s life to achieve jus- tice. Beautiful Coleen Gray plays opposite Victor Mature, as the gangster’s second wife. More than forty tons of equip- ment and a large staff of techni- cians were transported from Holly- wood to New York, to make “Kiss of Death.”’ Scenes were filmed in Sing Sing prison, the New York Tombs and Criminal Court Build- ing, with actual criminals, court officials and the general public in attendance; in the elevator shaft of the Chrysler Building; in Wash- ington Square and in Greenwich} Village apartments; and, against | all the seething traffic and move- ment of New York City. Boat Lover To Be Remarried LOS ANGELES — Actor- writer David Barclay, 42, plans to marry the daughter of the Santa Monica, Calif., harbormaster. Barclay and Nancy Lee Lister, 19, obtained a marriage license Saturday. Last year when Barclay was divorced by Mrs. Dorothy Barclay, 39, she charged: “He would rather give up his house, wife and children than his boat, the White Cloud.” He got the 60-foot boat, but her part of the| settlement included 15 per cent of his. income, estimated at $50,000| a year. PHONE CALL CUT OFF BY AUTOMOBILE DETROIT # — A motorist near- ly entered the conversation last | night while Harry Caves, 54, was making a telephone call. The driver ran over a curb and| smashed into the streetside public | telephone where Caves was tele- phoning. Caves stepped from the wreck-| age with only a bruised leg. The | driver was ticketed for running a red light. more and better jobs for every-| body. | Opponents argue 80 per cent of | the dividend tax cut, or 290 mil-| lion dollars, will go to only six- tenths of 1 per cent of American families. They say this is an un-| justified special benefit to wealthy | Persons. last week when acting Atty. Gen. | Bernard Sykes announced that “I won’t say we’re looking for any more. suspects.” And Sykes had previously em- phasized it was “suspects, plural, and always has. been.” Today’s grand jury meeting/ build up public confidence in the came after a sweeping purge com- pletely revised the county’s legal | setup, long tainted with suspicion of taking orders from racketeers. Even before qualified martial law was declared by Gov. Gordon | Persons, the state hastened to Judiciary system by removing key | pointed by the governor filled the | county officers from any connec-| jury box with names recommend-| tion with the investigation. Circuit Solicitor Arch Ferrell, who later identified himself as the Prime suspect in the Patterson murder, has been replaced by Johnson, the Athens, Ala., solicitor with a reputation for strict honesty, The former Russell County grand. jury, which had reported it could find no evidence of gam- bling, was also thrown out along with the three-man jury commis- sion. A new jury commission ap- led by the fussell (County) Better- ; ment Association. Judge Jones was sent in.by the state supreme court to replace Russell Circuit Judge J. B. Hicks. When martial law ~ was” pro- claimed 18 days ago, county and city law officers were relieved of duty and their ‘weapons. National Guardsmen have since arrested| | several public officials as well as | gambling figures. on charges of jelection law violations and gam- | bling. Garden- Freate GOLDEN YELLOW VEGET RIPE PHONE OR - COME. IN | | Wh. 524 Southard St. Key West BANANAS 2:19. No. 1 FANCY DIXON'S PRIDE Tomatoes 2«35< No. 1 FANCY BLACK VALENTINE Green Beans 2+: 25: Premier Light. Meat TOT OOTY) Quantity Rights Reserved Tender, Quaker Resular GRITS Juicy Sirloin STEAKS d TRY IT GRILLED WITH ONION RINGS Fresh Ground TENDER, FULL OF BABY BEEF PALACE STOKLEY'S Corn: Cob So EARS TO CAN Can 33 ARMOUR'S TREET 12 Oz. Can 4AGe DOUBLE Q PINK SALMON 160z.tn AiQe OLD GLORY Garbanzos 2 cans 19¢ MAINE IN OIL SARDINES 2 Cans 19¢ 9 3-69 VITAMINS LIBBY’S BARTLETT PEARS NO. 2'2 CAN UAVA PASTE Jelly Centers 2% Lb. Box Sc TISSUE 2 = 29 | i