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Show ! THE AMERICAN FORK CITIZEN, Thursday, January f 4, 1962 Am man Jfark Cttlttzrn . Published Every Thursday at American Fork, Utah by tihe ALPINE PUBLISHING C& Entered as Second Class Matter, at the Postoffice at-American at-American Fork, Utah, under the act of March 3, 1879. NATIONAL EDITORIAL - v Subscription Rate $3.50 Per Year '. BY lALPH BOOT Prospects' for -.1 962 . " . There must now be Utterly tens of thousands of organiia- tions and persons who make forecasts of busmess for the following fol-lowing year. Most of these" already have appeared in one form or another for 1962. And this time there is such agreement agree-ment amont all of themthat it is almost disturbing. . This is especially true for the first six months of the year. For the 1 A f ! " A. .1 A . : v . A second nan tnerejsspme disagreement, dux even nere u is more a matter of shading than of basic differences. -Our own thinkim? is as follows: Gross national oroduct. which is the monetary value of all goods and services produced in the nation, will increase .-quarter by quarter in 1962 and for the year will average be- tween $560 and $565 billion. - The recent low of this aggregate was in the first, three months of 1961 at $501 billion. We no .not nave the official figure, for the .final quarter of this, year, but the Administration is estimating that it will be around $540 billion. . ." Inventories were liquidated in the first quarter, at an annual rate of -4 billion. In the second three months there was a sharp turnabout, and since then the accumulation has been at. a constantly increasing rate. Such additions will continue at least through .the first six months of 1962, partly because, of the fear of another steel strike. No one knows whether there wiU. be such a strike, but business dare not gamble that there will not be. ' ". Over-all industrial production, as measured ;hthe Federal Fed-eral Reserve Board index, has resumed its upswing and this wilf continue in a mild way throughout 1962." Currently such production is about 14 percent ab6ve 1957 and it will rise, say, further 7 nprrpnt in 1QR2 Business investment in plant and equipment is slowly increasing,! and for 1962 it willjbe some $38-39 billion. The previous all-time high was a little over-$37 billion. ; Personal income. will continue to rise and by the end of the year it should be avobe $450 billion, or some $25 billion higher than at present. This, plus an expansion of. install ment credit, will assure a moderate increase in retail trade. ' Employment will advance to new high levels and unem ployment will drop but not by enough to eliminate this problem. prob-lem. As compared to our present civilian labor force, we now have 6.1 percent unemployed. Tnls will decline ta s or 5.5 percent. Wages, of course, will continue to risel Corporate -profits in the aggregate will continue tn ad vance through probably the second Quarter and then tend in 1 -1 r ii ' a .a.. -rt. . icvci vu. urrenuy mey are.aDOut $47 billion pre-tax, and iney. wui rise another live or six billion. But if must hp' remembered that the federal government Jakes -just about one-half of this amount in taxes. . ... The public appears to approve of the 1962 model auto. mobiles and there is much reason to anticipate sales of about 6.5 million cars. This does not include Imrjorts Housing starts still show no real iib. in we shall have about 1,275,000 private starts and in 1962 -the fi,re will be around 1,325,000. Construction as a whole is to be up some 7 percent, according to the F. W. Dodge Company. reaerai government spending will continue tn rise v- the fiscal year ending next June 30 the at $89 billion.' No one yet knows what the figure will be for me iouowing year, out ?z billion is commonly mentioned i-uuing au mese ana otner nro ections tnmtw conclude that 1962 will be a year of moderate w.-, for the economy as a whole. during the Korean War year of 1952 when the relative tax burden was 32"per centr. : . Foundation analysts .observe that while government takes the largest slice of Utah's personal Income, It s also the largest sin gle .contributor- to the State's economy. In 1960, 24 per cent of total personal Income to individuals in-dividuals In Utah was, derived directly from government sour ces. In addition, to thtse direct government payments, a significant signi-ficant part of Utah's Drlvate spending fo "geared to eovern- ment policy and actions. The missile industry,' which employs more than one-fourth of the manufacturine labor force in Utah for trample Is largely dependent de-pendent upon government' orders or-ders and contracts. ; The Foundation study shows that nearly -one out-of everv fom; (23.3 per cent) non-agricultural employees In Utah works for some unit of government. govern-ment. Government emDlovment to Utah during June, 1961, totaled to-taled 64.91liitof which 28.978 were Federal employees,' 12,760 were" state employees, and 23,-175 23,-175 were Jocal (lricludlnir cltv. county, ncLchoott government employees As of October ' 1, 1960, Utah had a larger number of government employees "in relation re-lation to Douulatlon ' thai nv - - r other state In continental United Uni-ted States. . ..-.- Utah ranks eleventh, amone the fifty states In the percentage percent-age of Its personal Income going for state and local, taxes. .The report observ.es, however, that the broad base of the State's tax structure tends to moderate moder-ate the impact of the tax burden. bur-den. Utah Is 'One of the few states to employ all of the major ma-jor kinds Of tflxpn In Its lav sysfen. The Utah-Foundation. reDortr summarizes-the luiDortant de velopments to. the major state and Jocal government activities Of education, hlzhwava. and welfare durlnr 1961. The studv points out that Utah' makes a greater effort to support public schools (In term of Dersonai Income devoted to school taxes) than does any other state in the nation, Utah also has con sistently, provided public wel fare? grants that are above the national, average Tor most-cat egories oi puoiic assistance; . Eldon J. Miller, Clarence brant and Thomas' E. Hansen all with (homes beautifully decorated. The contest was conducted by the Jr. Chamber of Commerce. 20 YEARS AGO . lnners ' In the Christmas Home Ilehtine contest were Mr. and Mrs. Clarence Grant, first. They usea the "V for Victory" tneme. second' were Mr. . and Mrs, Melvln Grant, who featured fea-tured a "Merry American Christmas,'" Christ-mas,'" and Mr. and Mrs. F. ,T. Shepard who had an exceptionally exception-ally artistic display.' Wagstaff, Fay Varney and Ruby Harrington. lerlcan. Fork Cavemen downed an ' invading Murray team Monday in the last ore- season game. The score was 32-20. 32-20. Playing 'on the local team were Dean, Durrant, Plerce, Blrk, Peters. WCulr. Walters. Bateman and Coddington: Utahns Paid Near Five & One Half Million In Taxes Utains paid a total of 4543 million' in Federals state, and local taxes la 1961, according to year-ena ; review of . govern ment activities DreDared hv Utah Foundation, the private tax research oreanlzatlorL The 1961 tax .load" was eaual to slightly more than $600 per person or $2,425 for- an average family of. four persons. These tax load computations include1 all taxes both direct and hidden. Approximately 32 per cent of all personal income received bv individuals in Utah Is now go ing for taxes, according to the report. ' This percentage compares com-pares with 30 per cent in 1955. 26 per cent in 1950, 20 per cent in 1940, and 12 per cent in 1930. War-time highs were reached during the World-War n year ot 1944 when taxes took 30 per cent oi Utah's personal income, and 30 YEARS AGO There is a little Utah Countv boy who has been burning up tne narawooa lor the Utah Un iversity since the beginning of the basketball season. He la Ivan Miner who used to wear the insignia .of 'the American Fork High School. Miner's smooth work under the hoon and his uncanny long shooting nave earnea ior him a nod over the" 1931 reserves. - A telephone call from the Bon Homme Richard Aircraft Carrier Car-rier .700. miles put at sea, to Mr. and Mrs. Glen Gordon this, week brought a welcome message mes-sage from their son, Frank, who has been for the past .few months in Japan, that he would be .able to be home for Christ mas even -though for only, two days. He will board a. plane in San Diego on Chlrstmas Day and be home in American Fork at about S pm. the are also expecting their son Paul to be home for Christmas. Notice to Creditors ESTATE OF ELIZA C. 8EARLB, ... . Deceased. Creditors will present claims. with vouchers, to the undersigned undersign-ed Executor at the office of Heber Grant Ivins, Attorney at Law, 75 North Center Street, American Fork, Utah, on or before be-fore February 81, 1962. s Leslie C. Bearle :'""''- Executor ., ; Heber Grant Ivlns Attorney for Executor American Fork, Utah. First Publication: Dec. 21, 1961. Last Publication: Jan. 11, 1962. mm 111 ram n piiir:."iES$ - Any smart bunny knows that flameless efectric drying puU extra freshnen fend fluffi-ness fluffi-ness into clothes . . . because clothes are caressed gently by sunshine-pure electric heat Many things come out of an electric dryer to soft and fluffy no ironing is needed. There is less fading, too, with a flameless electric dryer. You have fewer clothes to buy. Clothes washed after breakfast can be dry aad ready to wear long before runch. There is a good selection f new elctri dryers awaiting you at your dealer's now I ; BETTER SZtYOUK BEAUX NOW Xm total" Wvk t ELECTRIC jVIJJ HOME o fl UTAH POWZR A UOHT CCV Back-Log From Citizen News Columns V 10 YEARS AGO . ' Marvin Teuscher was named Chairman of ; the 1952 Polio Drive" in American Fork! This promises to be one of th mn Intensive drives this city has ever known. Helping him in the drive are: J. Ralph Seibel, Stan Dahl, Mrs. Stanford BriM. Mrs. Frank Greenwood, Harold An derson ana Dudley P. Thomas. Mall which had een'dronned In the box in front of the Peo ples State Bank was . almost completely destroyed by a fire on New Year's nicht. someone put a match in thefrboirand the pieces of mall smoldered most of the night. A reward is offered for information leading to the apprehension of the culprits. Miss Lola Waestaff and Gavle w, Evans exchanged vows In the Logan IDS Tttaple, Dec. 27, be fore President EIRay Christian- sen. . . Three tie In the Home Light Honoring Charles . Rohbock who is departing for a mission and David Waestaff.' who inst. returned, a party wilf be given in tne Alpine. Stake tabernacle, Wednesday night. Mr. Rohbock Will go to the Swiss-German mission and Mr.Wagstaff labored lab-ored in the North Central States. ' . Edith Anderson, entertained at a Holiday party for a num-er num-er of her friends. Games were played, and a delicious luncheon was served to Misses Edna Tay nrmage, Nan Chipman, Helen Tuttle," Maxlne Taylor, Dorothy Greenwood, Ruth Galford, Fern bon't lekt c&afttM wtthtynlghtl Ccrrfid vision fs essecHel h his progress la school . end b life! Ooal let poor vision handicap your child. He cannot achieve his best grades unless he Mil dtorb oH wlthovt strain, Ffcr ' Wh hW IV'EDOS JEWELRY LEHI. UTAH . : PEOPLES STATE BANK OF Aft FORK WILL PAV 1 J it lilTEllEST OH - SAUiHGS - Oil DEPOSIT FOR 0I1E YEAR Effective January 1, 1962, Peoples State Bank will pay 4 l' interest on all. savings off deposit for one year, and 314 ihre-est ihre-est on savings on deposit for less than one year. This is the highest rate poVsiDlelh a Wnk insured lby 4tU Federal Deposit Insurance Corporation. . . Save in a bank which cjive maxWum protecttbh witn your ' money available at all times, and Vnere you get Vhe other banking services that only a bank "provides. Peoples State Bank OF AMERICAN FORK Member ot Federal Deposit Insurance Corporation All deposits insured to $10,0 For friendly help with all your banking needs, you can depend on us ing contest -for this year with |