{ title: 'East Rockaway Lynbrook observer. (East Rockaway, N.Y.) 1975-1994, April 18, 1984, Page 4, Image 4', download_links: [ { link: 'http://www.loc.gov/rss/ndnp/ndnp.xml', label: 'application/rss+xml', meta: 'News about NYS Historic Newspapers - RSS Feed', }, { link: '/lccn/sn83008745/1984-04-18/ed-1/seq-4/png/', label: 'image/png', meta: '', }, { link: '/lccn/sn83008745/1984-04-18/ed-1/seq-4.pdf', label: 'application/pdf', meta: '', }, { link: '/lccn/sn83008745/1984-04-18/ed-1/seq-4/ocr.xml', label: 'application/xml', meta: '', }, { link: '/lccn/sn83008745/1984-04-18/ed-1/seq-4/ocr.txt', label: 'text/plain', meta: '', }, ] }
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KNIGHTS OF COLUMBUS DAY. Hempstead Presiding Supervisor Thomas S. Gulotta (left) presented a proclama- tion to Grand Knight, Elmo Magnani of the Saint Mary's Council #2228 and his wife, Sophie at ceremonies at Town Hall proclaiming Knights of Columbus Day. The Magnanis! reside in Lynbrook. One tree can make 3,000P00 matches. Leds dose the book onfocest fifes. One match can bum 3,000^00 trees. ~ Holiday | Savings | 14K osses ledais chains stars nOJ9 & up • j4K pave diamond initial rings S4g95 purchase ol unique piercing earrings NBW CONTEST EVERY MONTH COME IN TO ENTER WIN VALUABLE JEWELRY N O PURCHASE NECESSARV Use Our Layaway All Credit Cards 24 Hour Repair AVI S JEWELERS 2 Stauderman Ave., Lynbrook OFF Atlantic Ave. COO OOCO ami LIRR Trestia 99 J-OiLDo Abrams Obtains Order Halting Sale Of Tax Shelters School Aid Coming Attorney General Robert Abrams announced (Fri- day) that he had obtained an order temporarily enjoining a group of New York City and Long Island companies from selling fraudulent tax shelters. The order also requires the promoters to appear in Manhattan Supreme Court May 9. In court papers, the Attorney General alleged the scheme involved the leas- ing of an energy-saving device to commercial and industrial customers. Promoters promised victims that investments in the operation would entitle them to tax credits of $10,000 each, though the write-offs are in fact unlikely to be allowed by federal and state tax authorities. Mr. Abrams said tens of thousands of purchasers in New York and other states have already paid as much as $6,500 each for invest- ments offered by First Energy Leasing Corp., of 222 Middle Country Road, Smithtown, the related firm Encon Enterprises, Inc., and 222 Middle Country Road, 55 additional companies and individuals named in his suit. The president of First Energy Leasing is James Marci of 15 Welbourn Lane, Coram, New York. In an affidavit filed in Supreme Court, the Attor- ney General said one of the alleged promoters of the scheme sold the fraudulent tax shelters to approxi- mately 3,000 investors for a total of more than $15 mil- lion during the last half of 1983. The total number of sales to date is not yet known, Mr. Abrams said. Selling the investments with the representation that they will entitle purchasers to the promised tax credits is fraudulent, the Attorney General charged. At lease one investor has already been advised by the Internal Revenue Service that the claim of a $10,000 tax credit for investments in the First Energy shelters is likely to be challenged, ad other investors are likely to find that neither the federal government nor New York State is willing to grant the credits the sellers have advertised. He said operators of the scheme sell investments in a device called the \Encon 1000,\ which the promoters claim is of value in conserv- ing electricity in commercial and industrial applications. By inflating the value of the device to $100,000 ~ when it in fact contains about $200 worth of parts and has a fair market value of no more than $3,000 ~ the promoters of the scheme are able to convince their victims that their investments will entitle them to a 10-percent investment tax credit of $10,000. Mr. Abrams charged that the $ 100,000 figure is a gross exaggeration, arrived at through \collusive sales\ among the related compan- ies and \misleading engi- neering proposals.\ He also charged that First Energy Leasing misused a Touche Ross accounting report in an attempt to give credibility to its inflated valuations of the conservation device. The temporary restrain- ing order signed by Justice Thomas J. Hughes of Man- hattan Supreme Court requires the respondents to turn all their records over to the Attorney General for inspection and to give tes- timony about their opera- tions when they appear for the May 9 hearing. Handling the matter for the Attorney General are Assistant Attorneys General Mark A. Tepper, and Rebecca Mullane under the supervision of Orestes J. Mihaly, Chief of the Bureau of Investor Protection and Securities. News From Congressman Ray McGrath Groundwater provides drinking water to half the American people, and far more than that on Long Island, where it is practically the sole source of drinking water for our residents. Unfortunately, more and more gasoline is being found in the drinking water of American households. The problem is likely to get worse before it gets bet- ter, as more and more old, buried gasoline storage tanks rust through and leak their contents into the water supply. We have already experienced problems of this nature on Long Island. It has been estimated that 1.4 million underground storage tanks in the U.S. store gasoline. Approxi- mately 85% are made of steel with no corrosion protec- tion and were buried 20 years ago. I have joined as a cospon- sor of H.R. 4985, a bill which is designed to provide for relief, cleanup and pre- ventative standards for existing and future buried tanks. It addresses the prob- lem in a couple of ways. First, it amends the so- called \Superfund\ program to give the Environmental Protection Agency author- ity to clean up gasoline leaks which have occurred from underground storage tanks, and provides up to $1 mil- lion for cleanup activities in each situation. Second, the bill requires EPA to establish general standards applicable to new and existing storage tanks used for commercial or governmental purposes. The solution to a problem of this magnitude will not come overnight, and it may well be an expensive propo- sition. But failure to start now will just make the cost greater later on, and in the meantime the health of mil- lions of people will be adver- sely affected. For quite some time, my Assembly Republican col- leagues and I have been cal- ling for a dedicated com- mitment of sufficient state funding for education and the implementation of necessary and innovative programs in our public schools to better prepare our children for the future. Now that the final nego- tiated 1984-85 school, aid package is in place, I am pleased to report we were successful in our efforts to defeat the governor's hor- rendous education proposal and this year, for the first time, we Ijave meaningful reform of the system of funding education. I am referring to a battle I have waged together with other Republicans in both houses of the state legisla- ture that calls for an equali- zaion of financial responsi- bility from district to district through high tax aid. Under the final negotiated school aid package, school districts in my Assembly dis- trict will include the follow- ing in high tax aid: Baldwin, $515,271; Malverne $179. 273; Valley Stream #13, $253,215; E. Rockaway $97,563; Valley Stream #24, $156,137. For several of our school districts, this will be the first time they receive this aid. While not all our districts qualify for this additional assistance under the current foi-mula. I will work with my colleagues to expand the scope of the program to see they are included in future years. I believe a fine effort was put forth by the PTA, teachers, students and other concerned citizens who actively sent letters and lob- bied in Albany. While I am pleased with the major step taken this year to increase high tax aid, far more needs to be done to relieve our overburdened taxpayers. I consider it a beginning to even further gains to improve the overall education funding system to ensure suburban areas their fair share. ©l^Bcv COSMETIC DENTISTRY (crowns, bonding) • INSURANCE ACCEPTED • EVENING HOURS BWWllY DENTISTRY 1705 BROM>W«Y««fmm,NY 11557 (516)593-1118 IS your HEALTH AT RISK? check all that applies to you: YES NO • • HEADACHES • • NECmiN • • PAIN BETWEEN SHOULDERS • • BACK PAIN • • SCIATICA • • LEG PAIN i • n STIFF JOINTS \ / j • • MENSTRUAL | DISCOMFORTS IF YOUR SCORE IS GREATER THAN 2 you owe it to yourself to visit FAMIL Y CHmOPRACm CENTER FOR A TOTAL SPINAL EVALUATION Including Neurological and Orthopedic Testing CALL TODAY FOR AN APPOINTMENT MOST INSURANCES ACCEPTED AS FULL. OB PARTIAL PA YMENT fcM 1/ . DR. LEIGH ANN AAARINO C Spik 128-B Hempstead Ave. f^HIROPRACTIC Lynbrook ^ENTER 596-0330
