Fort Collins Coloradoan from Fort Collins, Colorado on July 11, 1974 · Page 18
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Fort Collins Coloradoan from Fort Collins, Colorado · Page 18

Fort Collins, Colorado
Issue Date:
Thursday, July 11, 1974
Page 18
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18 Fort Collins Coloradoan Thursday, July 11, 1974 gQrjy Qf young Sonny, Cher haggling woman identified over house ownership Fight for financing becoming fierce LOS ANGELES (AP) -Sonny and Cher Bono are haggling over a property settlement involving their 22-room mansion in Holmby Hills, valued at $1.3 million. The haggling comes in advance of the couple's divorce proceedings, which are expected to reach court in September. Cher. 27. contends she bought the house from Sonny for $450,000 - and she has a memorandum of agreement bearing his signature to back it up. court restraining order to keep her out. Cher said she took possession of the house during Sonny's absence Monday night. She said she was accompanied by David Geffen. her frequent escort in recent months, a security guard, a governess for her daughter. Chastity, and her secretary. Sonny said through a spokesman that Cher had taken the house and he could not get back in because of the guard. He moved into a BASALT, Colo. (AP)-The body of a young woman found in the Chapman Reservoir Campground near here Monday has been identified as that of a 22-year-old Grand Junction woman. Judy Ketchum. authorities reported Tuesday. Assistant Dist. Atty. Mike Fisher of Aspen said the woman apparently died of natural causes. Her death was first reported as a possible homicide when the body was found. Fisher said the woman had a history of poor health and had seen a Glenwood Springs doctor By JOHN CUNNIFF AP Business Analyst NEW YORK (AP) - The gurgling sound of illiquidity is being heard around the world these days, as individuals, businesses, banks and governments find themselves pressed to come up with funds to finance their plans. Banks have failed in several nations. Italy is on the verge of bankruptcy. Corporations everywhere are fighting for their lifeblood. Cities find themselves unable to afford high interest rates. In many cities savings banks seem to be occupying traffic sites that brokerage houses once coveted, using all the allures of carnivals to attract depositors. Some give trading stamps. It isn't that they're doing all that well. Deposits, in fact, have been flowing out of the "thrifts" in search of higher interest rates elsewhere. The savings rate has failed to rise, as forecast. Many families are heavily in debt, having borrowed from tomorrow to live today. At the end of 1973 total installment credit outstanding was 14.5 per cent higher than a year $100 billion has been added to mortgage debt. In an economic analysis just released, Lionel D. Edie & Co., consultants, gave this Business Mirror trenchant report to businessmen: "Currently, the burdern of consumer installment debt is at an all-time high. That is, the proportion of his repayments on installment debt to his disposable in- comfortably high peak of 16.7 per cent. "The delinquency rate on total installment loans overdue 30 days or more is currently the highest by far in over 20 years, indicating the extreme difficulty consumers are having meeting their current obligations. "Similarly, the delinquency rate on mortgage payments is the highest in 20 years." Are municipalities any better off? Many have delayed maintenance and expansion projects, and the roads, water and sewer systems show it. New York 7.92 per cent interest rate on $438 million of bonds as "unconscionable." Businesses find themselves competing for money at higher and higher rates. While the prime rate is now about 12 per cent, some pay between 15 and 20. Banks too find themselves battling for funds. The fight for financing therefore is becoming more fierce among individuals, banks, businesses and governments, and the world's money managers are growing in their conviction that something has Sears APPLIANCE ftam" ,1 Miami r, ?m Prices in Effect thru Monday ALL-FROSTLESS 16 cu. ft. 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