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@,000  - Tax Credit Fails to Do Job in Housing...
Tax Credit Fails to Do Job in Housing WASHINGTON (AP) - Despite the appeal of a $2,000 tax credit, new home sales still, are insufficient to bring about a major reduction in the nation's big backlog of unsold homes, a a government agency says. As a r e s u It, the F e d e r a l Home Loan Bank Board concludes that any real boom in construction of either single- family housing or multi-family dwellings "is a long way off." The board said Tuesday the tax credit that took effect in late March appears to-have had a weak impact on the inventory of unsold homes, in part because new housing starts are relatively high' compared to sales. . . . The board said sales increased 11,000 in April compared to March but the inventory- of unsold single-family homes declined only 7,000 units to a total of 380,000 homes in April, the month the program should have had its greatest impact, it said. An analyst for the board, which regulates savings and loan associations, said the April backlog of homes was equal to about 8.1 months of sales. That was a high fipre, although an improvement from previous months, he said. Figures for May were not yet available, although new housing starts in that 'month increased- 14.2 per cent over April's total. ·The sales situation for multifamily dwellings, such as condominiums, is even' worse, .he said. LONDON: (AP) - Britain's Labor government scored/its first victory in its battle against Europe's highest rate of inflation when the coal miners agreed to shelve a demand for a 60 per cent w a g e increase. Militant leaders of the National Union of Mineworkers in Yorkshire and 'Scotland demanded-: a $7Q.40-a-week ' increase for workers at the. coal, face, raising their basic wage to $220- a week. The convention voted to. replace, the word "demand" witfr/"seek.'" This put the miners on record that' they want the $220 weekly wage but are prepared to forego it for this year. (See. story on page 2A.) BUENOS AIRES, -Argentina (AP) -- President Isabel Peron suffered a double blow at the hands of the Peronist movement when labor forced her, to abandon the wage ceiling she proclaimed and . the Senate .named :; -a -,/suc- , : cessbr,to 'the/presidencjr-oyer ; her objections. The -General Labor Confederation (CGT), backbone v ;of the ruling Perbnist... .movement, called off its : two-day.' general strike 10, hours early ..Tuesday after Mrs.- Peroh;:agreed 'to cancel the 50. per cent limit on wage hikes-she ordered; .last week as part- " of';: an austerity , program to counter inflation.". WASH I N GT O N (AP)Two congressional overseers of the CIA were.told in 1973.-, about the agency's own findings o f . improper- ac- · tivities within the intelligence organization, ''according to newly released CIA docu- m e n . t . s . . S e n . S t u a r t Symington, D-Mo., and .Rep: Lucien N. Nedzi, -D-Mich.,.' were given "a detailed, page- by-page. · review" .of the data collected during the CIA's own probe, a'memo by CIA- Director William E. Colby said. The memo, dated' Aug. 29, 1973, is part of the CIA's own accounting to President Ford, which was delivered, to Ford. last. December -and made public late Tuesday night. (See story on page 3A.) ,.. VIENTIANE, Laos (AP) Representatives "of the United States,-Laos and four other countries met · today to discuss- the future of the fund that provides" Laos with backing for its currency,.The United States, which has annually provided half of the §22-milUon Foreign Exchange 0 p e r "a t i o n s Fund, is withholding .$6.. million until Congress decides whether to continue' American aid to Laos now that the Communist -Pathet Lao has taken control of the coalition government. Other countries that participate in the fund are France. Britain, Australia and Japan. Informed, sources said Tio^ decisions were taken at today's meeting. ... . ".. W A S H I N GTON The federal government is providing live entertainment for tourists while they wait,, sometimes for two -or .three hours, to see some of the- capital's monuments. Five young actor-musicians, the -' Strolling Troubadours, " will' perform through August at tourist sites in Washington, (See story oh page 2D.)

Clipped from
  1. The Ogden Standard-Examiner,
  2. 09 Jul 1975, Wed,
  3. Page 1

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