Newspapers / The Kings Mountain Herald … / March 6, 1947, edition 1 / Page 12
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fll Loans Exompft Iran Incont Tax . WINSTON3ALEM,?The lour per mat- gratuity payments made by Veterans Administration to the cr#M ot veteran-borrowers under terms mt G. L Bill loan provisions are exempt from Federal income tax, the Veterans Administration Regional Office announced today. In addition, all Interest paid B lotma guaranteed or insured under the amended law may be listed ana deduction by veteran, regarded Ins of whether or not part of the Srterest actually was paid with the, j^wS fSffilS&F H&s Hi HMB|Hp|PfMMHBHil^i (^UUAM^^VULBJUAy ; FOR K i'opiii t Near Cenl 5 i ., .. Check year Inn A* Ml | inai you nave at P. D. HI Phoi Real Estate HMnimnNiiuuHiHnHiiiminimuununanHBntwnurai r [THE FACT I m i x * t ~ MAN-MADE within two minuter i J SCIENTISTS turned a 3 1 by dropping a PEW POL prom an airplane. thi the wwy to Storing uf and powe * jit*]if*|^ Ee S. ' "" ,-v . * lv ; ' tfPCLONS INCOMES"^ BEYOND SOCIAL w MCmtlTV AM O ' f*MO UNDER < AMENDED f-6 .3 * PENSION PLAN. c- ' " . ^ " . ,. ! j? 2 ~ ~~ t?*4 gratuity, VA said. The VA statement waa issued ' following receipt of a formal ruling ' on the subject requested by VA'a Central Office from tho Commissioner of internal revenue. The original G. t BUI (Servicemen 'a Readjustment Act) provided for payment by VA of the first year's Interest on the guaranteed portion of the loan. While this VA payment Is not taxable as income of the veteran, the amount of Interest thereby paid may not be listed by him as a deduction for tax purposes since ' that Interest actually was {laid by the Government. - 'A* revised in Deoember, 1945, by Public Law 368 of. the 79th Congress, the law now provides that VA shall pay the lender, fbr credit to the veteran's account, in 1 amount eoual to tour percent of the guaranteed or Insured portion of the loan. This 1 Is not a payment of Interest assuch, but may be credited against the loan In any manner agreed upon by the veieran and the lender. This . accounts For the distinction made be , tween payments under the old and ( 1 tb* nev laws. ? -t [""" f J? " " ,f Fluuu warnings, best known for-' preventing loss of live, also have;1 their savings In dollars. The average 1 annual property loss from floods In the U. S. Is estimated at SMXMXXtfttO, . and the flood warning service of the , Weather Bureau, according to the ( Red Cross, Is credited with an aver- , age annual saving of flS^KXMXX). I, SALE I House ' '3 House tool School ' ' . ' rgj t . ; . ?. f J ! trance Policy. So# !' v I hazard* covered. -1 f SBNDON ie 148 -?Insurance ' I iMttnniiiiuiiiiuiH:?..i?n^-" ' ' /./' \ | 1 6 By GENERAL ELECTRIC I i j" . ft H' n I - v ? H'Jt < I I % 1 w < i i i SNOWFALL/ 0BNCRAL EL6CTPKT MILS CLOUD INTO SNOWf /kids op orv ice PBuette 6 CXS00V6RV MA/ PONT ?VWB* FOR IRRIGATION RPROJfiCm E UP TO MUSIC/ S- CLOCK - RADO s AUTOMATICALLY TURNS \rrseLP ON ID WRKi >OU ^ UP IN THE MORNING. ' " .*:?v v.. * 5^ , ., .^4-1 > t&. j?is?' \ H|r . | NGS MOUNTAIN HERALD. T1 . . si; . .w ~ Ungie Might Hen* Son* To teiexicol ^ ISfiirS^ttKLSSlS ld^^K^S*Sd?rS^r maU butu^atenrtTiiaLec? Th* elliflMK-* 'e T ?' '" * * ' ."'sV?" ';, -i There to mom mgmt In the shop that Angle had My Mt <K the itall feeta flMl Angle might km profited tor the IfMte ell. mate. SI BUI Students Advised OaTHnukn Veteran-students attending scbx>la or colleges In North Carolina under the G. L Bill and planning to transfer to some other Institution iurlnc the summer have been admjj asr'tyjr ruiirtiumi tlon to contact their training officer to that a supplemental certificate can be issued. Prior approval of VA Is necessary tor a change of institution and isnianoe of a Supplemental certificate, the Winston-Salem regional VA office said today, emphasizing that foe this reason the veteran must nonsuit Ms training officer before msirisj any change. VA explained that whan the training officer is contacted, complete information necessary for a supplemental certificate can be obtainad. All matters concerning education or training, such as change of institution or course, reports of earnings, or subsistence checks, should be brought to the attention of the veteran's training officer. < The VA office said that It was es S 4? m * - iwciauy ior veteran-students to set their training officer well in ad vance of any planned transfer from a school or college, in North ?af< olina to some other State. In addi' tkm to the request for a supplemen tal certificate, die veteran must request In writing the transfer of hit VA file to the region In which th? oh.ll.taM. Veteran-students planning summer courses at the institution thej are now attending do not need s supplemental certificate, but mnsi notify their training officer so sub slstence allowance will be ~-n??nued. Subsistence payments for students are set up by the Va to stop at the end of thej^esent school year BAKER ON VACATION? Waynesboro, Virginia, Feb., 26? Cadet Thomas .P. Baker, son of Dr and Mis. Luther P. Baker of 500 N Piedmont Ave,who is attending Fish bume Military School in Waynes boro, Virginia will return to hit home next weefr for a. spring vacation. This vacation for Fi*hburn? cadets will extend from March',*3 to March 18. The hiitory of pensions or other lids for. disabled war veterans or neir dependents dates back to A. D. I, the time of "Augustus, the first toman Emoeror, according to VetThe undersigned, having qualified is admlnnrtrator of the estate of tfri Bath A IfeGill, deceased, late it Cleveland County, this Is to notify ill persons having claims against add estate to present them to the indersigned on or before the twelfth lay of February, 1948, or this notice rill be pleaded in .bar of their renvery. All persons Indebted to said state will please make immediate myment to the undersigned. This 13th of "fHruiw. 1947. W. J. McGlll, Administrator. 13-m-S-pd . r, v . i . am I Iv (i At Hmm Ou The Fan fcaS^'v-'. ' ^t. '/? with J- the City Caasfak - * 0 ??? I I I nil I "His entire life was spent to the rural community .where he WM born. . This was said of Bill Tyree, din farmer, in his plain and simple ob ituary ?^?nf out In the count] he died, -t had read this tine before in mort than one account of the passing of i friend. It is past at the stock in trad< of men everywhere who write fo "the hometown paper." Close to . the poll themselves, li small towns, that depend on thi uuujriin uuni Mcunu ior mar ver] existence, country ?dttan have ? keen >w>i<ihm rfthtmlrmnlin behind this u l-adorned summary ot BUI Tyree'a crowded lifetime City cousins who take the troubl( to read the obituary of a farmer the] have not known In life, conclude that men like BUI were old "stick i ln-the mude" whoee existence mus have been terribly dulL But 1 knee Bill. Because t)e was strong enougt Idea that he was too weak to mov< on to the "greener pastures^ tha are kinda like the end of the rain bow. He spent his entire life in Twli Porks community, all right! Course I he went to state conventions of hli I farm groups when he epuld, ami In tried hot to miae a State CoUsgi 1 Extension Service "Farm and Boom Week" like the one they're goinj to have the lest weak lb Augus this year. From these association! t he gletMdvgiany real friends. be came "neighbors" to felbm-farmeri all over- the Old North State, am i when ha returned to this dommuntt; sBk?mmmKm ELECTBIGA , f. ' Cory Coffeemakers I Plate Glass Medici! i Telechron Alarm C! Automatic Electric ] (: Two-burner Hot Pla Toasters * Sonora Radios . . ' - \ _ . Universal Automati ; Pads . . Non-Electri< ? ' ijT * I * ' .?* - >* >i Pin-Up Lams 1--JE-KQ0Laa One 10-gallon : V ' - ' :. V-:: ,^r>. Cherokee Street / ' ' ' T ' 1 r Ajpt iy, ^; >. y- ? ' ''^'y. " 'Jb>jsj* . '.- . ' . . f^. . ^ -5- .>>< **" P Wl ^5r^-^piV- vf i>;"/, ?.4 . ->i M. j5T! <** -., " ?vJ-*l~iv.vvl^ < ty.' 7''*. . iCi tai v ' '?t*fcrrii~Yfi ^ ?ffiHM^HIMWfflH i J | y ', ^ ' where pi entire life wu spent, you r can be sure be wee e better (aimer, kid that Twin Forks felt the impact of his dynamic leedettMpfc V**^ 1 BUI saw good times and bad Wmss find their way to his rolling farm* ? stead., but be knew how to handle i both of them. IVe seen him prosper, and rve seen him "paying up Ma t newspaper subscription with bags Of potatoes and Leghorn hens. Somer times he had to pay the doctor and r 4m parson with this same legal tender, but BUI TyrSe could be counted i on to "pay In full." i Bow many "BUI Tyrees" do we t have In North Carolina? Well, look r at your smaU rural communities. Search out the school, the church, i the newspaper that serves It. If theee f Institutions stand strong, there Is , .? u.ri mm 1? i down * nearby road, at whom they r will any hie passing: 1 "H Is entire Me wu spent in the mal community where he was born." ; 1 i . i i ., r 5 v ; ; Food t You can got the highei . lock's, serving Kings M I BLALOCK'J t I | Ph. L APPLIANCES IUS1 ' ' -^v- J: 'vV' ' , ;*' (complete) Vaculator te Cabinets loc!^ HomelL! Irons , . , Thermado tes *"- Complete Chime Kitchen-T] Shutte c Heating Bottle Wai Automatic s Poor Chimes, anybody 'i .. ... rsidentialf industrial and 1 * '' ' ~ I .'jF ' '. , EZdr ? TT, "'rT^., * r c^?% is^ a Kings. Mountaj.i Drug v^nnpsay . -' r ill Hi' ? ' - ' Fact " """ " .' mi r i | it quality foods from Bla otmtain for orer 11 years '* -?'; - . -. ., :/. ...' 4 * A- .- '"T .r \ jGROCERY " MM 58 Coffeemakers ms? Osclatting Fans aecuers, 1-lb. ' r Bathroom Heaters line Rittenhou* nners Cellar Pumps can install ? r, Wrfm&M g:. | .... only 12.95 . ^ $6500 fe ' ^|?|' -: , , |" , , . /.' <*j^J-3 ' '*^v .ytji ? j yW^Mr v '- y .^r! m:L:- /. -' "^D/ '"
The Kings Mountain Herald (Kings Mountain, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
March 6, 1947, edition 1
12
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