Masonry Magazine March 1971 Page. 42
CMCA Convention Report
(Continued from page 9)
Appearing as panelists at the Saturday morning session
were Ray Lackey of Henry J. Kaufman & Associates,
Washington, D.C.; George A. Miller, Executive vice presi-
dent, MCAA; Harry Morstead, Morstead & Son Ltd., and
L. A. Kuhlman of Dow Chemical Co.
The convention concluded with the annual banquet on
Saturday evening. The Hon. Steven Otto, Liberal M.P. of
York East, was the main speaker.
It was announced that the 1972 CMCA convention will
be held in Vancouver, B.C., February 3-4, with Dino
Maniago of Vancouver serving as convention committee
chairman.
Washington Wire
(Continued from page 28)
considering the step as a boost to the nation's economy.
His staff is readying a bill to restore the 7% offset against
taxes not against taxable profits which was, at President
Nixon's request, repealed in 1969, to slow the inflationary
boom. Mills believes that restoration of the credit would
produce more stimulation than the Administration's recent
move to accelerate depreciation allowances.
But Mills probably will wait for a clearer trend in the
economy before making a final decision to go ahead.
If the hoped-for business upturn fails to materialize.
he will move. And he might get some Administration
support.
BILLS TO EASE THE TAX BURDEN ON SMALL
BUSINESS will be pushed in 1971. President Nixon has
resubmitted measures that lost out in the last Congress.
One provision would permit losses incurred by small
businesses to be carried forward for 10 years as a tax
deduction against income in subsequent years. Another
would liberalize capital gain treatment on qualified stock
option plans; the period during which an option could be
exercised would be extended. from 5 to 8 years. The
required holding period would drop from 3 years to 1.
But the legislation faces an uncertain future again this
year. The House Ways and Means Committee, which
must act on the proposals, already has a heavy sched-
ule of pending business. It may be forced to postpone
action till 1972.
easier for groups of consumers to obtain redress for
their grievances, too.
Other provisions of the Nixon package will be backed
by consumer groups. These would bar deceptive war-
ranties, outlaw 14 specific abusive business practices,
and give the Federal Trade Commission authority to
seek temporary injunctions against unfair practices
pending court review.
INTEREST RATES WILL FALL FURTHER, in the
wake of the credit easing, going beyond the 1% decrease
on bond yields and bank rates already recorded. But
financial analysts expect the coming drops to be moderate
and gradual. The demand for money still remains large.
Corporations may not need so much for new plant or
inventory. But they want to build reserves of ready cash.
What's more, state and local governments are going back
to the bond markets now that rates have come down.
And mortgages can absorb every free dollar.
-Bond yields on top-grade corporate and tax-exempt
issues could drop to 74% or 72% next year, from
the recent 82%,
-Bank-loan rates are not likely to give much more-
maybe %.
-Mortgage rates will case by less than 1%, from
today's 8%%.
Advertisers' Index...
LET THEM KNOW YOU SAW IT IN MASONRY
AA Wire Products Company
Asrail Products Co., Inc.
Anchor Manufacturing Co.
Avco-Felker Corp.
A
32
15
Bluff City Manufacturing Co.
C
Clipper Manufacturing Co., Inc.
Norton Construction Products Div.
4th Cover
Robert G. Evans Company (Target)
25
Giant Industries
Goldblatt Tool Co.
Lull Engineering Co.
Melroe Division, Clark Equipment Co.
Morgen Manufacturing Company
L
11
M
29
National Concrete Masonry Association
6
Oury Engineering Co., Div. of Haraco Corp.
12
Pittsburgh Corning Corp.
Prime-Mover Co., Div. of Hon Industries
26
30
Signade Corp.
40
Western Products, Div, of Douglas Dynamics Corp.
Zonolite Construction Products Division, W. R. Grace & Co.
2nd Cover
This index is published as a convenience to the reader. Every care is
taken to make it accurate but masonry assumes no responsibilities for
errers or omissions.
masonry
March, 1971
PLANS TO BLOCK STRIKES IN TRANSPORTA-
TION faces a rough road in Congress. Legislators are re-
luctant to enact anti-union legislation close to election.
They would rather meet each emergency as it comes along.
The railroad crisis, which finally has been resolved after
years of controversy, is an example.
NIXON'S CONSUMER PROPOSALS DON'T GO FAR
ENOUGH to suit some consumer groups and so may be
drastically modified by Congress. Critics say that the
President accompanied modest steps forward with side-
steps and back-steps. They want a new independent agency
to enforce product-safety rules at the Department of
Health, Education and Welfare. And they also want Con-
gress to authorize unrestricted class-action suits-not just
the study Nixon asked.
The class-action suits are a political hot potato. They
would make it easy for nuisance action to be mounted
to harass legitimate firms, though they could make it