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Show National News Summary New Plane An experimental rocket plane the Bell XS-1, is reported to have flown faster than the speed ol sound a number of times recently, recent-ly, according to an article, in Aviation Week. The exact speed attained by the revolutionary aircraft has not been announced, but it is reported that the flights took place at an altitude of more than 35,000 feet, where the speed of sound is 660 miles per hour. Defense In order to keep the United States in the forefront in the weapons race, Secretary of Defense De-fense Forrestal has ordered the Research and Development Board to submit at least once a year a new master plan for military mil-itary research. - Canadian Imports Canada's imports from the United States were 35 to 40 per cent greater than in the boom year of 1929, and twice as large as in iy3y. rne reasons advanced advan-ced for the increase are increased concentration of Canada's import demands on the United States because alternative sources of supply have remained limited since the war arid pent-up demand de-mand for much equipment and goods which were not available during the war. Comm unity-Pr op tr ty Oregon, Pennsylvania, Michigan Michi-gan and Nebraska have recently passed community - property laws, under which married couples cou-ples may split the family income in-come equally for purposes of Federal income tax; By this system, sys-tem, couples in the middle and upper brackets can get into the lower brackets, thus saving tax. These states bring to thirteen the number of community-property states. The nine others in which couples enjoy the same tax privilege are: Arizona,' California, Cali-fornia, Idaho, Louisiana, Nevada, Ne-vada, New Mexico, Oklahoma, Texas and Washington. Other states are expected to join the community - property parade when legislatures meet again in 1948 and 1949, unless Congress votes, in the meantime, to extend ex-tend the income-splitting privilege privi-lege to married taxpayers to all states. Home Loans The Home Owners' Loan Corporation, Cor-poration, a government agency, has announced that 85 per cent of its "rescue loans," have been paid off. The HOLC loaned $3,-500,000,000 $3,-500,000,000 during the 1930'a to aid home owners facing foreclosure. |