McHenry Public Library District Digital Archives

McHenry Plaindealer (McHenry, IL), 2 Mar 1973, p. 14

The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

PAGE 14-PLAINDEALER-FRIDAY, MARCH 2, 1973 Gas Shortage Review Made At FS Annual Meet Despite the shortage of LP gas and other fuels, McHenry FS is in a position to guarantee LP gas to customers who purchase grain dryers during 1973, Stanley Steagall, general manager, told more than 500 farmers and their wives at the farmer-owned company's twenty-eighth annual meeting last week. Steagall said McHenry FS was fortunate to be able to keep farmers supplied with LP gas during the recent urgent need to dry the thousands of bushels of high moisture corn and soybeans. Some companies did run out, and Steagall said the outlook for 1973 in several areas of farm supplies is serious. Shortages in phosphate, mixed fertilizers and other fuel oil products is a reality, he asserted. Steagall, who said he has been with the FS system--an affiliated company of Farm Bureau - for 20 years, believes serious problems created by shortages of farm products will come this year. Because of severe weather which prevented spreading fertilizer during 1972, McHenry FS did not quite reach the $4 million total sales goal. Sales totaled $3,838,067, and all departments except the fer­ tilizer department showed an increase, he reported. Sales of agricultural chemicals climbed to ten times their level of 1963. He expects sales to increase as advances in the scientific world develop products to improve production and efficiency of farming. Feed sales climbed to $1,331,689. A complete service in farm automation equipment, grain bins and dryers con­ tributed to this department's total. He said a new idea in feed distribution called Feeder Group has increased feed sales. He instructed farmers who had an interest in Feeder Groups to contact their salesmen. Petroleum sales have in­ creased steadily since 1963 and addition of LP gas the past year has intensified the increase although shortage of this fuel arose almost as soon as it was added early last year. Net income totaled $111,200- down somewhat from the year- ago total of $161,552. For the year, McHenry FS returned $82,9% in patronage refunds to Farm Bureau member customers in McHenry and Walworth counties. It returned an added $23,809 to those who hold Class D preferred stock. Robert Gardner, president, said one of the main develop­ ments during the past year was purchase of CFS Fertilizer and Farm Supply plant at Huntley. This provides an additional major facility in an important agricultural area of the county. Gardner announced a new policy concerning redemption of Class D stock, a preferred stock issued along with cash when patronage refunds are paid. Reelected to the board were Harvey Fedrowitz, Marengo; Glen Benoy, Hebron and Carroll Lohmeyer, Woodstock. A meeting for Walworth county farmers and their families was held last Friday night at Elkhorn, complete with a program, speaker and financial analysis. A warning on the shortage "of phosphate and other fertilizers and cer­ tain other products was given at that meeting, too. The Woodstock meeting was an historic one. It was a sit- down dinner for more than 500 people and was held in the new building at the McHenry county fairgrounds. It was the second largest sitdown dinner in Woodstock history, topped only by the Woodstock All-America City official award dinner at Marian Central on April 16, 1964. > Voter League President Interviews Congressman Happiness can't be sold like pie, made days ahead like a cake, weighed like coal-you must make it fresh each day. Interviewing elected representatives is one way the League of Women Voters gets first hand, accurate in­ formation on current issues. Recently, Mrs. June Girard, president of the Woodstock McHenry League of Women Voters, participated in an in­ terview with U.S. Congressman from the 16th Congressional district, John B. Anderson. Meeting with Rep. Anderson in his office were Mrs. Girard, Mrs. Witt (also of Woodstock)! Mrs, Mollie Zimmerman (Rockford LWV president) and Mrs. Sue Molyneaux of Rock- ford. Rep. Anderson is the third ranking Republican on several important committees in­ cluding the House Rules committee. His views were sought on specific questions such as that of Home Rule for Washington D.C. On this'issue he and the League of Women Voters agree that this is im­ portant legislation to support and that this is a good year to do so. The Congressman also favors Congressional reform. He supports open meetings of congressional committees, recording of key votes and making votes available to the public, selection of committee leadership on the basis of ability, fairness and sensitivity to national needs and im­ plementing procedures to give committees rather than the chairmen control over their operations. Rep. Anderson favors a constitutional amendment that would provide for direct popular election of the President and Vice- President, with the winning candidates to receive 40 per cent of the popular vote. In the area of welfare, he voted for HRI and feels strongly about including the working poor in welfare reform measures. He is for increasing the minimum wage in phases, up to about $2 an hour. Also discussed with Mr. Anderson were environmental quality and the financing of public schools. He believes the federal government should assume more responsibility for the latter. Mr. Anderson said he would definitely oppose any legislation that would weaken the present National En­ vironmental Policy act. He does not favor federal in­ tervention in the matter of solid wastes; he feels citizens should have more local control for thisNHe does not favor granting 5 If this man to carpet 3 for $1 J900... offers rooms ...see if he has any new cars for around *200, too. This guy is the real carpet bagger. He's the one with the low overhead because he has no showroom or extra salesmen. He'll sell you 3 rooms and a hall for $119; he'll save you 80 percent on in­ stallation, give you a free pad and a wear guarantee for 15 years . . maybe even throw in a radio or something. He'll do lots of things except answer honest questions with honest answers. And being honest is something we're very proud to admit. Tidy has been in the carpet business for 23 years, and we didn't become the carpet leader by making misleading claims and false promises. At Tidy you can browse, at your leisure, through thousands of carpet and rug samples -- including over 400 full 9 ft. x 12 ft. sam­ ples. Chances are, you'll see the actual roll of carpet that will be installed in your home. We'll even take your old rug in trade, and we'll loan you carpet samples to take home and match with the rest of your furnishings. Tidy also offers expert carpet and rug cleaning and guaranteed installation. And we give S&H Green Stamps on cash purchases. The carpet featured below has been specially selected by Tidy because of its unique qualities and unparalleled price structure: 4 FAMOUS MILL SHAG You'll love this short nylon shag! Available at Tidy in 13 of today's most wanted colors. Thirty-three rolls of beautiful tweeds and solids in Tidy's stock are beinf , sold at close-out prices. ^M 99 Suggested Retail: $6.95 "J sq. yd. SCULPTURED NYLON This sculptured 20 oz. nylon is perfect for nearly every area of your home ... ideal for dining and living areas, lending an aura of sophisticated ele- gance...but stays with- $C95 in the family budget. ZJ Suggested Retail: $6.95 yd. SCULPTURED SHAG Continuous filament nylon th. t just will not shed!Tidy purchased this carpet from four of America's most famous mills ... and in the most - wanted sparkling decorator colors, too!! See it today. sq. yd. VERY SPECIAL CARPETS "GAMES-PEOPLE-PLAY" The carpet that's fun to live with ... in fact it's literally full of fun games that people love to play. You have to see it $ftCft to appreciate it!! M Suggested Retail: $10.95 ^ We hope you'll shop in either of our two locations ... or use our shop - at home service. Just give us a call -- it's as simple as that. But please remember, Tidy does not solicit via telephone --- ask for positive identification from anyone representing themselves as a Tidy shop-at-home counselor. But what's most important, is that you beware of the $119 Carpet Bagger .... even if you don't buy your carpet from Tidy, at least buy from someone you know you can trust. &RUGS utmidc. mon-. THURS., FRI. 8-9; TUES., WED., SAT. 8-5; MOUHb' SUNDAY 12 - 5 auto manufacturers an ex­ tension of time to produce anti- polluting cars. Mass transit legislation is viewed favorable by Rep. Anderson and he is for strict regulation of strip mining. Rep. Anderson has consented to speak to the League and guests in March. The date, time and place of the meeting will be announced soon. For further information, persons interested can call Mrs. H.D. (June) Girard or Mrs. John J. (Mary) Witt at 338-3447. In keeping with League's non-partisan policy, wherein league never supports a candidate, only issues, the league seeks all opinions and interviews representative of both parties. SERVICE NEWS Navy Lieutenant Com­ mander Karl E. Tomm, son of Mr. and Mrs. Karl R. Tomm, of 1211 W. River terrace, McHenry, is in the Western Pacific aboard the nuclear- powered aircraft carrier USS Enterprise. The Big "E" was on station in the Gulf of Tonkin when President Nixon announced the cessation of hostilities in Vietnam. He is a graduate of Nor­ thwestern in Evanston. SKYLAB VEHICLE . The Saturn B rocket which will carry the first Skylab astronauts moves along a 3 ¥2 mile path to its Cape Kennedy firing site for 3 weeks of tests. The 220-foot Saturn is scheduled to put 3 Americans in orbit. first y.s. | | | ferts Ask IS foutoW This column of questions and answers on federal tax matters is provided by the local office of the U.S. Internal Revenue Service and is published as a public service to taxpayers. The column answers questions most frequently asked by taxpayers. Q) Can I designate $1 of my tax to go to a particular presi­ dential candidate? A) No. However, if you wish, $1 of your tax ($2 if you are married and filing a joint return) may be paid over to presidential candidates of a specific political party. Just check the box on IRS Form 4875 (in your tax forms pack­ age), fill in the name of the party, and attach this form to your tax return. Instead of designating $1 of your tax for a particular party, you can designate it for a non-partisan general account for all eligible candidates. Just check the box provided. Q) My adjusted gross income is $13,000. Can I take the $2,000 standard deduction on my return? A) No. The standard deduc­ tion is 15 percent of your ad­ justed gross income up to a $2,000 maximum. Fifteen per­ cent of your adjusted gross income is $1,950. This is your standard deduction, not $2,000. Q) My son turned 20 in 1972. Does this mean that I cannot claim him as a dependent any more? A) No. If your son did not have gross income of $750, or more or was a full-time stu­ dent for at least five months of last year no matter how much money he made, you may still claim him as a dependent, regardless of his age, if all the other dependency tests are met, including furnishing over one-half of your son's total support. Q) Are scholarships taxable? A) No. In general, if you receive a scholarship or fel­ lowship grant, you may ex­ clude all or part of that amount from your gross income, de­ pending upon whether or not you are a degree candidate. If you are a degree candidate, there is no limitation on the amount that may be excluded from your income. However, if you are not % degree candidate, the amount you receive as a scholarship or fellowship may be excluded up to $300 times the number of months for which you receive amounts under the grant during the tax year. A scholarship that is com­ pensation for past or future services or primarily for the grantor's benefit, is not ex­ cluded from gross income. For more information, see IRS Publication 520, "Tax In­ formation for American Schol­ ars in the U.S. and Abroad." A free copy can be obtained by dropping a postcard to your Internal Revenue district office. Q) I installed a new water heater in my home last year. Can I deduct the cost on my tax return? A) No, but you may add the cost of this item to the basis of your property, so that it will be taken into account in the event that you sell your home. Q) Are gambling losses de­ ductible? A) If you itemize, you may deduct your gambling* losses incurred during the year, but only to the extent of your winnings. Gambling winnings must be reported as income. Q) I still haven't gotten my W-2 form from my employer. What should I do? A) Contact your employer. He is required by law to fur­ nish his employees W-2 forms by the end of January. Your return must be filed on time. If you do not have all your Forms W-2, report all of your income and attach a statement explaining how you computed any tax withheld for which you claim credit, but for which vou have no Form W-2. If, after you have filed your return, you receive a Form W-2 for income that you did not include in your return, or if you find your estimates of income and withholding tax to be incorrect, file an amended return, Form 1040X. This form is available at any IRS office. LOOK TO MARENGO FEDERAL FOR HIGHEST ALLOWABLE INTEREST ON YOUR SAVINGS ANNUAL RATE 6% per year 5 %% per year 5%% per year 5% % per year 5% per year EFFECTIVE RATE COMPOUNDING 24 to 60 month certificate 6.18% $5,000,00 minimum 12 month certificate 5.92% $1,000.00 minimum 3 month certificate 5.39% $1,000.00 minimum Golden Passbook 5.39% $500.00 minimum 90 day Notice Account Regular Passbook Savings 5.13% Earns from date in to date out INTEREST COMPOUNDED DAILY ON ALL ACCOUNTS - PAYABLE QUARTERLY ON ALL ACCOUNTS SEE: 200 WASHINGTON (JUNCTION RTS.120 & BUS. RT. 14) (815) 338-1000 WOODSTOCK, ILL . ALWAYS FREE PARKINS MARENGO federal savings and loan association A $46,000,000 Mutual Association sarving Northern Illinois sine* 1926 No Saw Has Evsr Lost A Penny 200 East Grant Highway Ptmnr 815-568-7258 Marenqo Illinois r

Powered by / Alimenté par VITA Toolkit
Privacy Policy