European Stars and Stripes (Newspaper) - August 26, 1978, Darmstadt, Hesse                                Capital gains saturday August 26, 1978 the stars and stripes Page 27 from press dispatches Washington spokesmen for real estate interests citing lags in the housing Market and High unemployment in con auction Friday urged the Senate i once committee to approve Sharp cuts in be capital gains  one thing the committee was asked go along with a provision already approved by the House which would allow in duals a one shot tax exemption nonprofits of up to $100,000 on the Sale of a ind pal , like other business spokesmen who testified they urged the panel to go further than the House in reducing Overall capital gains tax  Senate committee is studying the j billion package of tax cuts sent Over the House which includes a reduction 49 percent to 35 in the capital Gainsey. James r Shimberg of Tampa fta., rep resenting the National association of Home builders said the capital gains rat should be lowered to 25 percent. And he mid the 100,000 tax exclusion on a Home ate would free up and make available residential units for Purchase by  earlier this month. Treasury Secretary Michael Blumenthal Tom the committee be one time exemption would Cost the Treasury an estimated 750 million in lost i venues Blumenthal said the administration ants the maximum profit figure on the slashed to $50.000, and be made Only to people age 59 or , however said current capital bins taxes discourage owners from sell ing since the Only Way they can escape the Levy is to buy another House at least As expensive. Many homeowners however Are financially unable to meet the monthly Cost of operation of a replacement residence of such Cost Shimberg said. In addition homeowners who Are retired May Well rent rather than Purchase a re t  another witness Kenneth g. Hance of the National realty committee threw that group s support behind cuts in income and capital gains taxes for individuals and corporations along with tax Relief for Small  Outlook for real estate is cloudier than that for the Economy As a whole Hance said. America s real estate Indus try has lagged behind the Pace of Genera economic  i he said current unemployment rate remain at extremely High Levels in con Toction running up to 60 percent in . Protests Russ jailing of newsman Moscow up the . Embassy to made a formal protest to the foreign my ferry Over the Brief detention of a american television journalist by  sources said an embassy of cuu lodged the protest Over what it called soviet interference with Abc news mos Eow Bureau chief Gene Pell in the carrying some , a real Esafe interests ask big slash in fax on Home sales to encourage Young buyers Leader business the ?y1g% Eute tax Cut approved by the . Magnate Hammer talks with Brezhnev Moscow a american business magnate Armand Hammer met with soviet president Leonid i. Brezhnev Friday atthe russian Leader s vacation Retreat in the Crimea the official Tass news Agency Hammer chairman of the California based firm Occidental Petroleum corp., said earlier in the week be planned to ask Brezhnev to Call for Summit with presi Dent Carter As soon As  was no indication from the Brief Tass dispatch Friday whether the subject bad come up or what Brezhnev s response was. The Occidental Petroleum executive were not available for comment Hammer was in the soviet Union to inaugurate a new $66 million fertilizer chem ical Complex in the Black sea port of Odessa on tuesday in a 20-year contract that is the biggest single Trade Deal Ever con dude tween the United sates and the soviet Union it was the 80-year-old Hammer s second conference in two years with Brezhnev whom he first met in 1971 the soviet Leader rarely receives non political american representatives though he met with sex heavyweight boxing Champion Muhammad All on june 19. Tass said Brezhnev noted during the meeting with Hammer Friday that the  business cooperation is a convincing example of Good opportunities in the development of mutually beneficial Trade and economic relations Between the .s.r. And the .a." two portuguese jets collide during training flight us on up two portuguese air forceps collided during a a Auyung get. Bursting Uto names and crashing Oear we Are losing ground fast and the situation could slip out of and Uniss decisive action is  Jones representing 190 of the nation s biggest business and financial corporations told the Senate finance committee thursday. His testimony came As the panel neared the end of Public hearings before writing its version of a tax Cut Bill sen. Russell . A la. The committee chairman has said he will work for a tax Cut that is considerably larger than that passed by the  witness. Robert Brandon of the Ralph Nader tax Reform research group told the committee that fairness de mands the individual lax cuts in the House Bill be tilted More away from High income  the effects of inflation and higher social Security taxes Are considered. Bran Don said Only people with incomes of $100. 000 or More would get a net Federal tax Cut next year As a result of the House Bill. Ninth Cabinet formed in Post revolt Portugal us on a prime minister designate Alfredo Nobre a Costa formed Portu Gal s ninth Post revolution government Friday without the support of the country s political parties. I am ready to begin governing with Al the Powers of the prime minister next tuesday the 55-year-old Industrial Engi Neer said after handing in a Cabinet list to president Antonio Ramalho eanes. The new government described in and Vance by eanes himself As one of expediency will be presented formally monday and sworn in 24 hours later. Besides Nobre a Costa an Independent called on to paste Over Portugal s latest political turmoil the Cabinet included me without political affiliation or experience. Three of the Cabinet members however were i dented As communist sympathizers and included the new foreign  Obers vers immediately assessed those appointments As a response by eanes and Nobre a Costa to socialist objections Over the president s ouster of socialist prime minister Mario scares. The formation of a Cabinet nonetheless eased a month Long Cabinet crisis after eanes dismissed scares july 27 when the conversion rate London a Friday s closing rates of the . Dollar to european currencies. Figures Are expressed in dollars to the British Pound other local currencies to two pilots were give nearby Hospital and rushed to Lisbon. Miles to the  at the Torre Novas Viltage Cras site said they saw one of the prof Fiat Jet following the Colli Sion. A 1mss these Are commercial rates and can be related Only to the use of foreign currency by . Forces for official business. Sales of German Marks to .personnel for personal use will be at the rate of 2.00 on monday which is based on Price fixing at midday and allows for Standard handling charge. Socialist Leader reported he could not and would not continue his coalition with conservatives. Scares began governing in 1976 after winning 35 percent of the vote in Portugal s first free elections in half a Century and be fore eanes swept to a 62 percent majority in a presidential election two months  next move in what a military Man called the War Between parliament an the president was up to scares american motors representative to visit cafes Munich an american motors corp am representative will visit several Exchange automotive facilities in september to help customers with warranty and serv ice problems. According to Ira j. Deloach. Acting director of procurement management for cafes Europe. The representative will be available at the am Field office at 57 Adickes Alice in Frankfurt sept. 4. 8. 11, 15.18. 22, 25 and 29 Between 9 . And 5 . Appointments can be made by calling Frankfurt civilian 0611 590369, or by contacting the cafes garage in  said the am representative will also visit eight other cafes garages at the listed dates and times Augsburg. Sept. 5.11 30 . -5p.m. Ludwigs Burg. Sept. 6,9 .-5 .heidelberg, sept. 7,9 .-4 . Forth sept. 12. To .-5 . And sept.13.9 .-5 . Wurzburg sept. 14.9 .-4 .kaiserslautern. Sept. 19,10 .-5 ., sept. 20,9 .-5 . And sept 21,9 .-3p.m. Mannheim sept. 27.9 . -5 .giessen. Sept. 28,9  . Because visits of this kind have drawn risk response in the past patrons Are advised to schedule appointments whenever possible Deloach said. Of his Normal journalistic  was briefly detained by soviet a writes As he and his cameraman pre so to film american businessman f. Crawford outside Moscow s Lefo Tovo Stock list w to circumstances beyond our con. There will be no Stock list in today s pars and stripes. Dow Jones averages liw Youk Upilo scientist who defected seeks visa to a Sesse interview from the soviet nut i. I a a the visa would be , who had been a top nuclear physicist in Italy the United states Brit Ain and Canada before his mysterious Dis appearance in the soviet Union in 1950, a Pue for the visa last tuesday on his 65th birthday the italian embassy  disappeared Here while on vacation from his work t Britain s Harwell atomic Energy research Center but Hii defection did not become known until 1955 when republished an article in the government newspaper Izvestia and the communist daily newspaper pravda. In that article he said British police had made his life miserable with direct questioning and systematic  in Friday s interview. Pontecorvo poli Tely declined a More extensive  t be  be said. I have applied for a visa but i am not going to give any interviews. Please Don t be  after the publication of Pontecorvo s newspaper articles in 1950. He Udd a mos cow press conference he had Given up Brit ish citizenship in 1952 and become a soviet National the British called him disloyal and Dis affected and took away Hia  told the news conference he was not working on any defense related  said he was on the staff of the soviet Institute of atomic problems carrying out research into the use of the atom for peaceful purposes