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Show THE HERALD. "Tuesday, August !1. Features . . . Opinions Several readers kive inquired ever the past year a. to the purpose cf the incuse principle of the Indiannead and quarter eagle gold couu. TV construction of the piece is definitely contrary to all knoa coinage practices and one that u most likely to cause a bit of confusion to numismatic beginners. The Indianhead quarter and half eagle gold coins are the most controversial coins ever struck by the United States Mint, if not the most unusual. The incuse or intaglio impression is equivalent to pushing the design down into the coin r ntil the highest pout in the design is just below the overall surface. that sinking the design '' ' u ci by PS ort Rec M art stacked. The Mint recently issued a statement in answer to a number of inquiries concerning the authorization, production, destruction and possible recovery of 90 per cent silver Peace Dollars dated 1964. V-T- appropriated 19$ to manufacmillion dollars. The 1600,000 in ture THE 1964 SILVER PEACE DOLLAR favor reference to the Deity on our currency. There were numerous objections to an incuse coin as a possible germ carrier but the chief complaint arose 45 Treasury recommended that the Mint be authorized to production immediately, fin White House on May 15, 1965, ordered production begun. Trial strides were made at the Denver Mint as a prelude to resuming production of the Peace dollar for the first time since 1935. This design was x "r WORLD ALMANAC FACTS Congress vas adopt- who strongly urged the omission of the motto IN GOD WE TRUST because he did not He operated a shoe repair simp in Provo for many years and taught his sons. Karl and Bill, the from its inability to be this & It is the story of the late Louis Keloh. who came from Cermanv and was a master craftsman in making and repawns sh,ns and bouts one of those to whom every nail and curve in a newly made boot was a work of " ed in 1908 during the administration of Theodore Roosevelt, mm because utilized it was ready to go with the exception of changing the date from 1935 to 1964, as required by the law for all existing pre-dat- e coins minted in 1965. These pieces contained 90 per cent silver. Because of the si'er shortsome age Congressmen strongly urged suspension of all coinage production containing silver, and the Treasury complied. All of the trial struck pieces dated 1964 were ordered destroyed under the supervision and accounting procedures required by Mint regulations. None reached the final stage of being counted, bagged and issued by the Mint's cashier. Should anyone have such k trial specimens in his possession, they are the Mint-struc- property of the United States ana therefore illegal to be held as a numismatic collector's item. Under federal law such property is subject to recovery since they were never officially issued as a legal coin. Collectors are strongly advised to avoid any purchas1964 es containing a 90 per cent silver Peace Dollar. (NEWSPAPER ENTERPRISE ASSN ISMS Crop failures in Ireland around 1880 prevented farm- ers from paying rents and reduced most landlords rents. However, Lord Erne, who had esftes in County Mayo, instructed Captain Charles Boycott, his local agent, to collect the full rent. Boycott's ruthlessness in evicting farmers incurred the wrath of some 3,000 tenants, who stopped working and thus initiated the first "boycott," The World Almanac recalls. ) Personal Finance T Bankrupts Army of Busted Plain Folks Like You and Me By CARLTON SMITH The laws of ancient Rome made a person think twice before declaring himself bankrupt. It was an offense at the choice punishable of the creditors by slavery or death. If the creditors couldn't agree which to inflict on the hapless bankrupt, there was a third possibility. He could be dismembered, with each creditor taking his due share one getting an arm, another a leg, and so on. It is not recorded whether this was the origin of the saying about something costing an arm and a leg, but that was literally the price of bankruptcy in the Eternal City. In present-daAmerica, bankruptcy is much less painful. The cost is typically a filing charge of $50 and perhaps, for an individual, $350 as the bankruptcy lawyer's fee. And though it's generally thought of as the fate of the failed businessman, last year for every business that filed a bankruptcy petition there were nine individuals. Just plain consumers 164,737 in all. What are your chances of joining the ranks of this ... y army of the busted? Probably better than you'd like to think, for a study of who goes bankrupt and why has demolished the popular image of the bankrupt and Rutberg's book. Rutberg, a financial editor and columnist for "Women's Wear Daily," has written a highly readable and even caustically book about bankfunny "Ten Cents on the ruptcy, Dollar" (Simon and Schuster, $6.95). The $7,000-a-yesecretary listed debts of $8,000. "For what?" the referee in bankruptcy asked. "Clothing," she replied. Among the creditors listed in her petition were most of the leading New York department stores and chic couturier shops. So, Rutberg observes, for the cost of a bankruptcy action about $400 "she had bought herself $8,000 worth of clothes. Not a bad deal." But Rutberg's secretary is not at all the typical bankrupt, says the Family Economics Bureau of Northwestern National Life Insurance Company. After an analysis of con- sumer bankruptcy cases over This column of questions and anwsers 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. la it true that many students with summer Jobs may qualify for exemption from Federal income tax withhold- ing? A. Yes, many students with summer jobs, retired persons, and others working part-timmay be able to qualify for exemption from withholding by E with their filing a Form employer. These forms are available from employers and many IRS and school placee, W-4- ment offices. Individuals who qualify for exemption from withholding are those who did not have to pay income tax for the previous year and do not expect to have to pay tax for the current year These eligible taxpayers generally will be in one of three categories: 1. Single peisons with an income for both annual the previous year and the current year of less than $2,050 ($2,800 if 65 or older). 2. Married individuals entitled to file jointly with a combined income of less then $2300 ($3,550 if one is 65 or older or $4,300 if both are 65 or older) for saeh of the two ir"s years; know old-tim- snuff-user- : high points from early wear to common to fold coins. But this did not take into considt. ation wear to the general surface. The incuse type if vkfp protect the would 2 Friends, And A mutual Bcnc the It was originally thought manner OH The Beat ByTHKKONH LI KE This is the story of three gem-ra- t ions of craftsmen and a can of snuff, called "smw" by i 3. Individuals with unearned income (such as interest or dividends) who may be claimed as a dependent by another taxpayer, but have gross income of less than $750. Those who have a question about whether or not they are eligible should contact their nearest IRS office. the past two years, it concluded: "The swashbuckler who Complaint Planned carelessly piles up unnecessary purchases to keep up with the Joneses is the most visible, but not the usual, candidate for bankruptcy." credit More truly typical, says the bureau, is the case of Mr. and Mrs. E., both 47. He is "a burly, heavyset veteran of World War II" who works for a Maine utility company and doesn't take SALT LAKE CITY UPI -S- much of a role in family afalt Lake County Sheriff's de- fairs, both because of "his tectives say they plan to charge a nonverbal nature, and his exhaustion after hospitalized Riverton, Utah, man sheer So Mrs. E., a "stout in connection with the shooting of work." woman from a large Scandihis estranged w ife. William Tyree was in serious navian farm family and a enable homemaker," mancondition today at the Cottonwood Hospital. Both Tyree and aged the family finances. his wife, Gay, had been taken to Their troubles started in the hospital for treatment of 1968, when Mr. E. had an accident in the family car. gunshot wounds in the chest. Mrs. Tyree was in satisfacHe was out of work for neartory condition todav. ly nine months, leaving the Letectives said Tyree allegedhospital owing $1,100 which wife his shot ly Thursday night the utility company's hospiand then turr.3d the gun on talization plan didn't cover. himself following a family fight. Workmen's compensation When deputies arried at the covered only the first 14 woman's home, the couple were weeks of his absence from work, so the family was withfound lying on the front lawn. Detectives said they will wait out income for nearly six until Tyree can be released from months. the hospital before arraigning After struggling along for two years, they finally had him. to give up. The hospital bill, plus unpaid food and fuel bills, had them sunk into debt by more than $3,000. It could happen to almost fan.ily. any middle-incom- e "The principal causes of bankruptcy," the Family Economics Bureau found, "are unemployment or un- A. Yes. Under new IRS rules, you must report total wages paid (whether or not income tax was withheld) and social By PKIL PASTORET security tax withheld from The only beef in plentiful maids, gardeners and other supply is about the price of Norhousehold employees. same. mally, Jan. 31 is the deadline for1 giving the employee her No chicken's a dumb cluck W-- 2 form and for filing a copy that gets $1.10 a dozen for with the IRS along with your Form 942 fourth quarter re-port of social security tax In Shooting deremployment (such as loss of overtime pay), and major health or accident expenses not covered by insurance." people realize' how catastrophic hospital and medical bills can be. Top priority in managing family finances should be given to a thorough review of health insurance, and seeing to it that the family is protected Few ENTERPRISE ASSN.) CITY (UPIl -T- here are more th?n 52.000 items in the Davis Gun Collection, ad hti a museum at Claremore, Okla., making it the largest private gun collection in the world. - (10 points for each question answered correctly) 1 The scheduled cutoff of American bombing support for Cambodian President . . ? . . was in the news. Van Thieu "j Penh - w - y Nol ..?.. anCanadian Prime Minister nounced restrictions on meat exports to the U.S. United Nations (CHOOSE ONE: General Assembly, Security Council) met to discuss the Israeli capture of an airliner over Lebanese territory. The Salvador Allende, the Marxist President of . . ? . . , formed a new Cabinet dominated by military men. Rica Administration's Phase Four economic program allowsJousinessmen to raise profits by increasing prices. True or False? The (10 points if you can I held a news conference to deny allegations that tit bet for us is accepted if you answer this question correctly) Thousands of miles of newsprint are fd drily through the presses cf America's newspapers. Recently, a shortage of newsprint has been felt in some areas. Inceased demand and labor disputes at Canadian pulp mills are some of the causes. How many daily newspapers are there in the U.S.? sportlight 1 identify this person in the news) I nevspicfure (10 points (2 points for each question answered correctly) nevsname Ml mmtm Athletes from 71 countries, including the U.S., are competing in the bicentennial University Games, being held in (CHOOSE ONE: Mexico, the Soviet Union). 2 In which sport are the participants nicknamed harriers? country kickbacks from Maryland contrac- tors. I denounced the charges as "damned lies." Who am I? vaulting ONE: Arnold Palmer, Jack Nicklaus) won this year's Professional Golfers Association tournament 3 (CHOOSE PGA victory was his 14th in a major tournament, giving him one more than . . ? . . record career total. 4 The FOR 2 6-- INEWSPAPER Gun Collection OKLAHOMA each of whom carries on today with his own shop TV unusual thing to me. in this day, and at' when it is no a rarity, is Karl's son Robert, learning the trade at his father s last, to com &'i mi phrase Hubert, now 20. Sarted out at 11 ith shine stand in his father s shop, and now works alongside Karl as a full fliKlged craftsman It is a rarrty today, in a trade of thai type. Bui this is really the story of the first craftsman. Louis. a can of snuff or snoot as we shall hereafter cal'it. Old timers used, and use. snoose did not snuff it up the nostrils as was commonly supposed to be the long ago practice. The old timbermen I have seen use it. and all others I have heard about, either chewed it like chewing tobacco or put a pinch of it in the cheek and just sort of let it soak. Louis kek'h. who died about eight years ago. had an old and rusted friend. The two of them chewed snoose the same, favorite brand one rather exotic and hard to H. It became a ritual with them when meeting to offer the other a pinch of snoose from whoever had the freshest can. They pasted many an hour in or just quiet conversation, meditation, and the particular brand of snoose became a bond between them. Louis Kek'h died and his old friend came to the viewing. He came through the line to Karl, showed him something in his hand and said "Do you mind?" Karl looked at it. "No." he said quietly. "I certainly don't mind, and I know for sure he wouldn't " The eld friend stepped up to the casket and quietly tucked a new can of their favorite snoose in the silken folds. It had been their bond in life. It remained so in death. The old friend died two years later. Karl thought of doing the same thing, but felt some of the family might object. But if each is dipping now and then from that can in the first I II bet St. Peter is casket looking the other way. vorldscope 7 The only sure that we'll lose. That kind of protection is afforded by the major medical" policy, and if it isn't included in employe benefits, it should be put in the family budget. For major medical insurance might also be called bankruptcy insurance. trade : Copy"l 1973 Ncspap' Emeip".' Amii against bills that get so big you run out of insurance. v THE WEEKLY QUIZ IS PART OF THIS NEWSPAPER'S SCHOOL PROGRAM DARDS withheld. But if the employee leaves before J"i. 31, as in your case, yon must give her the W-- 2 form within 30 days after her last payday. Include a copy of the W-- 2 with your Q. Will IRS publications tell final Form 942 return for that you about court decisions that employee. take a position on tax matters more favorable to the taxpayer For more details, see the inthan the IRS position? structions on your Form 942. W-will be mailed to A. Explanations and examples Forms you along t'th your fourth in Internal Revenue Service quarter return. Extra copies reflect the official IRS intercan be obtained from any IRS pretation of tax laws enacted office. by Congress, regulations issued by the Treasury DepartQ. When will I receive my rement, and pertinent court fund check? There are certain matters in these publications on A. It normally takes 8 weeks, which some courts have taken but it may take longer if you a position more favorable to mailed your return near the the taxpayer than the official filing deadline. Delays will also IRS position. Until these varyoccur if the return is incoming interpretations are re- plete or inaccurate. decisolved by higher court sion or otherwise, the IRS If you have not received must necessarily continue to your refund or a letter exstate the Service viewpoint. plaining the delay within 10 Q. My maid is quitting next weeks after mailing your reMonth. Is it true that I'll have turn, contact your local IHS to give her a W-- 2 Form? district office. BACK-TO-SCHO- Ol matchwords 2 DRAWER (4 points for each correct match) Cardboard 1 envoy 2 annoy 3 pledge $795 4 plead Utah Office Supply 5 decoy FILE b-t- o CABINET lure into a trap c-t- o ask or beg e-t- o bother 489-746- 9 5 Bob Griese is a quarterback with the (CHOOSE ONE: Miami Dolphins, Washington Redskins) of the National Football League. roundtable think there will be a leveling off of prices under Phase Four? Why or why not? Do you 0 191 S. Main. Springville Snead's Jones's Hogan's Family discussion (no score) 69 East Center, Provo 373-243- U luh-P- ge Commentaries . . . The Fall Guy One of a Kind Design Prov. YCUR SCORE: 91 to 100 points - - Excellent. 71 to 80 points TOP SCORE! 81 to 9G points e VEC, Inc., Madison. Wisconsin 820-7- - Good. 61 to 70 points - Fair Answers on p. 15' |
