The Courier News from Blytheville, Arkansas on April 21, 1950 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

Blytheville, Arkansas
Issue Date:
Friday, April 21, 1950
Page 3
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Page 3 article text (OCR)

FRIDAY, 'APRIL 21, 1950 BLYTH15VIU,B (ARK.) COURIER NEWS 1 FHA Mortgages to Have Lower Rate of Interest WASHINGTON, April 21. (AP)— | The government Is setting out to make home mortoage credit cheaper, as well as more plentiful. Affective with applications filed Monday, the lop interest rate on new Federal Housing Administration mortgages will be 4 1|4 per cent, or^a;4 of one l>cr cent less than li^^ifore. Ine rate reduction was announced last night after President Truman signed a bill providing for an expansion of nearly $4,000,000,000 In the federal'housing program. Chairman Maybank (D-SC) of sets a ceiling on mortgage Inler&st rates and Insists on certain standards of construction. The law signed by President Truman added $2,500,000,000 to authority or the FHA to Insure home mortgages. The objective: to make homes easier to buy and rental quarters easier to find. Among other things, the law also provided $250.000,000 more to the Federal Nationnl Morlsjage Aisocl- £ ation to buy mortgages from private lenders so the latter, in turn, can re-lend the money to new applicants. the Senate Banking Committee said the move (1) will save new home owners at least S5.000.000 a year and 12) "should reduce pressure for Increased rents." Top Rale Moved Moving the lop rate on FHA-in- sured mortgages from 4 112 per cent to 4 l|4 cut out half the premium such mortgages get above the 4 per cent rate on mortgages guaranteed, ______ by the Veterans Adinini.strotion. him and asked questions in Mannut the VA said it will stand pat on] darin Chinese. "I replied In' Can- its 4 per cent figure. ' tonese," said the fugitive. "The • Communist official couldn't understand it but did not want to atl- Clcver Use of Dialect Gets Worker Freedom HONG KONG -W_ clever use of China's varying dialects accomplished the escape from Red Shanghai of a Eurasian oil company worker. He took a train south. At Chnntjsha the Communists detained Persons getting FHA insurance mortgages will continue to be charged an additional li.2 of one per cent as an insurance premium, so the overall rate they pay will be 4 3'4 per cent a year—against 5 in the past. Nevertheless, they will IM saving 25 cents a year on each $103 of their mortgages—equivalent fo $13.50 a year in all on a $5,000 mort- gace, for example. FHA Commissioner Franklin D. Richards, in announcing the rate reduction showed confidence that lenders will continue putting up moiie yfpr FHA mortgages, despite th^aut In the interest return to Uifli "After months of thoroughly studving the mortgage money market it was concluded that this lower rate would be effective in producing a high level of residential construction under the FKA program,'" he said. Increase tlic Demand Senator Maybank agreed. "I am confident that the lower rates will Increase the demand for new housing and in no way will diminish the supply of mortgage funds," he said The FHA neither builds houses nor makes loans on them itself. In Insuring housing loans made by banks und Other private lenders, II mil it. so he let me get back on the rain." In Canton, he was questioned 'In Cantonese. "I replied In Mandarin. Guards wouldn't admit they couldn't understand me. so they let me get.a train to the Hong Kong border." At the border, a British policeman demanded his entry permit. 'I answered In English that my lather was English and my mother was Chii.ese. and he could shoot me if he wanted to. but I was not going back to China. He let me in. 1 hrael Wars on Mice TEL AVIV. Israel—(/Pi—There's a new war on in Israel—but this one is against field mice. The ministry , ITALY SHOWS SMALLEST 'COPTER-Tnis Italian-built helicopter, with double rotor and unusual rudder assembly, was demonstrated recently in Rome. One of the smallest such craft in existence, the plane weighs about 1100 pounds, has a four-cylinder, 80-horscpower motor, ^nd a maximum range of 400 miles. (Photo by NEA-Acm« staff correspondent Albert Dlaselti.) of agriculture is mobilizing forces described as "a large number of men who will go inlo action as soon as a dry spell sels in." Field mice have been causing widespread damage to crops. Horns are permanent, but antlers are shed periodically. "Soy It With Flowers" tilylheville FLOWER MART Memphis Hiw.ij Pliont G002 ABOUT ATHLETE'S FOOT 2127 Prominent Druggist! Can't Be Wrong t of P. .I. ..burl. W. ! T-<-L h.5 been H V«., very p IK. «r e'. «h>t Sto iy,. "The . >t tklr,, c. One eu»ta__n __ r ,. r , tb.t ,,t, Jl back «t IN ONE HOUt pletely IT iru, lcturf. Y0ur or.. L.c.ll r KIRBY DRUG STORES REMODELING SALE! Now that our store has been newly remodeled we're offering you exceptional values on special items in our regular furniture stock. You'll find savings of 50% and more. . .yes, even more than half! Many of these items have just been in the store loo long so we're slashing the price. Hurry down to Alvin Hardy Furniture Co. tomorrow. . .remember there are many, mure items on sale than we show here, lint in many cases, these are just one-of-a-kind floor samples, so don't wait! »e*off ONE CENT As r A Penny THURSDAY THROUGH MONDAY APRIL 20-24 INCL •^•^^^^^^^^^v* LIFE POST look Collier's • Farm Journal SlHtt 4* t&C. .. REXALL RADIO SHOW NBC Sundays • starring PHIL HARRIS & ALICE FAYE OWENS DRUG STORE & Railroad Blytheville Beautiful 18 inch TABLE LAMPS Pretty rayon shades, pastel colored china base, a truly fine little lamp. Only 4. BASE CABINETS Has . i n 1 a i d linoleum top chrome trimmed handles. Sor ry, there's only one. Duncan Phyfe SOFA BED A sofa in the daytime. . .a bed at niKht. Covered with lovely floral designed tapestry. One only. 6'x9' COIR RUGS Assorted Colors — 4 Only LOVELY PICTURES 5 AV E! 24 inch Kitchen Wall Cabinet, sturdily constructed. 1 only. REG. $21.50 VALUE 30 inch Kitchen Wall Cabinet, chrome- trimmed handles, strong construction. Two only. REG. $28.75 24 inch , Kitchen Base Cabinet with chrome handles, inlaid linoleum top. One only. REG. $45.95 . . 24 inch Kitchen Base Cabinet, has inlaid porcelain top, chrome handles, splashboard. REG. $39.95 ,..., 1250 16 75 2250 1995 Beautiful 4-Piece Walnut BEDROOM SUITE Panel Heel In the popular v/nUrfcill design, vanity with -11 Inch plate glass bevel etlfce mirror, cedar lined robe with 5 drawers and plate glass bevel erffje nilrrnr • on df>or, vanity chair . . . AM, FOR ONMf Regular $335.95 $23595 DHEIFUS UJ'.I \l\l\ ', liamnnds 3 piece Maple Sun Porch Suite, sofa and 2 chairs, REGULAR $129.95 VALUE Duncan Phyfe Sofa Bed, covered with rose striped damask. REG. $97.75 VALUE . . 18th Century Duncan Phyfe Sofa with solid mahogany backrail, floral tapestry. REG. $179.95 Walnut finished hardwood End Table, slightly damaged. REG. $10.45 89 95 4995 9995 495 HURRY DOWN TOMORROW! ALVIN HARDY 113 East Main FURNITURE Phone 2302

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