The Ithaca Journal from Ithaca, New York • 36

1 :1 36 JuttiVAL nursday, Oeceinuer 15, 1977 36 1 1 juts real estate On mortgage tangles recall ell On I CHRISTMAS CLASSICAL SALE All the LP's on 11.C.A., Angel and Columbia on sale 61 TN A 7C-1 emkiT 7 kLE 3 DAYS ONLY Contosturness BOSS Aar. Angel Angel FRIDAY, SATURDAY, SUNDAY (Dec. 16, 17, 18) Sale List 5.29 5.29 By EDITH LANK Gannett News Service Question: Please try to solve a problem that has my attorney unsure of himself. In 1960 I bought a house and the seller took back a mortgage. When I sold it in 1965 the new buyer assumed that mortgage and I took back a small second mortgage.

Now the new buyer says he has paid back that first mortgage. The original seller (who no longer lives here and may even be deceased) always had the abstract in his possession. Now the new owner wants to sell and says I am responsible for the abstract. He owes me a small balance of about $300 and refuses to pay until I produce it. I never even saw the abstract.

Am I legally responsible for it? O. Dill. Answer: The answer may he in the By EMI Gannett Nei Question: Please tr that has my attorney In 1960 1 bought a I took back a mortgag) 1965 the new buyer gage and I took hal mortgage. Now the ne paid back that first ginal seller (who no lc may even be deceasi abstract in his posses Now the new owne says 1 am responsible owes me a small bal and refuses to pay never even saw the ab responsible for it? Answer: The answ The special income tax provisions I for selling your home apply only to your principal residence. When you sell your summer mobile home, it would be reported on Schedule as the sale or exchange of personal property.

Since it is not business property, any te potential loss cannot be taken as a capital loss, but any profit will be taxed at capital gain rates. When I catch myself throwing such I cold water on your arrangements, I really feel like an old grouch. Of course you have a right to feel proud of what you are 141 accomplishing, and chances are that you 11 will end up with something fine to show for your efforts. agreements you signed when you sold the property. The new owner probably can't sell without a discharge of mortgage from you.

So you do have something to offer in return for his making his payments. And I suppose you always have the option of foreclosing if payments aren't made again, depending on the agreements in your second mortgage. You'll have to take this one back to your attorney. Good luck. I own my own home but have a summer mobile home.

I would like a rellolv as to capital gains on the sale of my mobile home, if it applies. C.H. uomil III 4tore COTROOAS DOMINGO FWANS WATSON 1 TUIMOVTIMCFN111, CORNET FAVORITES If '11a4 lig 7 1) A i 1 LEONARD BERNSTEIN I MIA INNK sIMPH0NY MIMS 1 MU lAt CHIRP, mteliVo0 NEW 10itk PtelliAILIMIC ts It.01itiVt Otott NM IORA PIHMARNINIC I ,0411.,,,, i 1- 1 I 1. 1 1 I moderate Stocks post Stocks advance, buying upi million shares from 19.19 million Tues- to day. Themarket drifted through the first million shares from 19.19 million Tuesday.

The market drifted through the first Gainers held a 7-6 edge on losers at the New York Stock Exchange, and the exchange's composite index of all its listed common stocks rose .21 to 51.90. in losers at the nge, and the lex of all its VIVALOI GLORIA PAAGNIFICAT it TERMIti io, 1 2 trOotOtot HOP 41 1 a Ar i ffilt .1 MO i ot. ill In i 1 MAUR BACH OCILONARIC GLORIA Om Pont. tot Wood. NAGNIFICAT No 3 in A moor No to 0 VIOLIN CONCERTO ....1 NO.1 it TE Tr SARASME io, ZIGEUNERWEISEN NENHAN :14..

it IV 40 A IANCONSIZ Wenn ENE RED SERE NEM Alit PIERRE IZZEI; gt4 .1. 0 0 I ,1111101. -1 RED SEEL 1 RED SEAL half of the session, apparently awaiting the latest 10-day domestic car-sales report from General Motors. NEW YORK (AP) The stock market, shrugging off an adverse car-sales report from General Motors, staged a late rally Wednesday with blue-chip issues leading the way. The Dow Jones average of 30 industrials, which had shown no net change over the past two sessions, climbed 7.45 to 822.68.

NEW YORK (AP) ket, shrugging off a report from Genera late rally Wednesda: sues leading the way The Dow Jones dustrials, which had over the past two sess 822.68. Big Board volume picked up to 22.11 I a a business briefs Beaujolais at Pyramid to stay open local stocks local 5 Vol. High 45 344 181 2774 45 -3 181 27's Vol. Hi 45 181 LANSING The Beaujolais restaurant ment. at the Pyramid Mall has not been sold, Were going to stay," O'Malley said.

although it is still for sale, owner Robert "Business has been quite good." O'Malley said. The only change anticipated is moving A planned deal with the Friar's Inn the restaurant's bar upstairs, off the chain, owned by Joseph Saccal, of Utica, main floor of Cafe Square, he said. fell through, O'Malley said. He cited the high rent of the downstairs Saccal could not be reached for corn- spot as one reason for the proposed move. But Collegetown's Steak Aroma is gone forever I I Gift Certificates Available Complete selection of Christmas Records Low Knowledgeable, courteous sales people to assist you in your purchase.

Close Net Chg. 4 4 4 4 ASK 5's IP. 15 3 15 1'. ii, Al leg Airlines 3 34, Borg Warner 27 V. Carr lis 24 411 Vs 41t Firestone 392 15's 15 15's Gannett 153 37 36 37 Goodyear 781 17 17 17 Great 185 8, Vt Greyhound 504 12 12 123,4 lieublein 160 254s 25 25 Jamesway 32 V.

8 8 K-Mart 697 27's 27 27 McDonalds 318 52 51 52 NCR 284 39 39 39 67 19 18 18 -Penney 331 35 347s 35 SCM Corp 96 18 18 18 Sher Williams 81 26 25 25 Singer 142 19 18's 18's Sony 1222 7 644 7 171 Co. 12 1 Pi 14s Vulcan 27 22 22 22 Woolworth 168 19 18 19 B11) Babcock 5 Friendly Ice Cream 12's Security New York Corp. 14k4 J.S. Barr Inc, Barr Building 211 East Seneca Street Ithaca. New York 14850 3.

27 15 3634 17 12'o 25 13,1 27. 39'w 18,44 27ka 4.s 15's 37 12.4 8 27 52 39.: 3531 1811 18's 7 22's Friend)) Ice Cream 12 Security New Nork Corp Barr Co Inc 211 LrtrSBeLeanftreet IC Ithaca. New York 14850 'I Alleg Airlines Borg Warner Carrolls 24 Firestone 392 Gannett 153 Goodyear 781 Great 185 Greyhound 504 Heublein ISO Jamesway 32 K-Mart 697 McDonalds 318 NCR 284 67 -Penney 331 SCM Corp 96 Sher Williams 81 Singer 142 Sony 1222 iiqc0 12 Vulcan Woolworth 168 Babcock Friendly Ice Cream Security New York Corp. S. Barr Barr Bui 211 East Sent Ithaca, New a Iv.0 0 ft I Fri.

10-9 i eV, 0 11 1131 ei Sat. 10-6 Sun. 12-6 ft 0 1,111 317 Coacee Ave. rams i 1 i i AC 3115M3155 MS MS 3151Z3)5315112a 311533eFileSIZ312332333125AMS MS 31331:3 3701M213101J50533010 Saittana SUM la ris, 0 9 0 In ri, 4 l' 2iii kitaii 317 Coacee Ave. Steak Aroma, destroyed by a summer fire.

will not be rebuilt, but owner IIliam Avramis plans to open a "European style" restaurant on College Avenue, across from Egan's IGA. Avramis plans to rebuild 302 College Ave. during the summer of 1978, and open the new eaterie, as yet unnamed, in time for the Fall student crush. As for the burned-out Steak Aroma shell at 408 College owner John the new ea -terie as yet unnamed in time for the Fall student crush. As for the burned-out Steak Aroma shell at 408 College owner John Petrillose said he plans to rebuild so another store can go in.

Plans are still very tentative, but he said the new structure would have a retail outlet on the ground floor, with office space on a second floor. "A lot of people want to rent" the first floor space, he said, adding no definite tenant has been lined up. He did say there would be "no restaurant" in the slot. "You've got too many." floo.r. s-p-ac-e tenant has been lined up.

He did say there would be "no restau- rant" in the slot. "You've got too many." 10-40 OFF Santa has one just the right size for you. With Super Savings on these Chrishnas pkasers RECLINERS from c4rnoic1ki ROCKING CHAIRS 1000 OFF Check out these and all the many fine values still in time for Christmas delivery. colrotoici:) gurPttitur 1 Christmas Hours: FriM119 11::::::::1 334 West State Street, Ithaca samommtAlo 277.4414 111111111111111 J'I4-1 UNBELIEVABLE Our Regular 8.99 Mirrored Dresser Tray Goldtonollhgree inm. Our Regular 1.50 Jewelry "Hang Up" UNiUtVAL WESTON Mens Remington AP XIR1000 Our Reg.

34.97 29.86 't Mans Remington 1 Rechargeable Radial Our Reg. 41.95 36.96 Mens Ronson 1000 Our Reg. 24.87 17.96 280 Wrth Stone Set vitte borthelone Of each loved one SPOON yellow or white 18k Karel hiad Each odal alone upto7 1.25 Our Regular 99C Stocking Stutters! Butane Lighters Guilt. ''Crockein" Ronson -Rom," Scnplo "Mighty Mulch" BIG with the special magic of CHIQSTMAS! FRI. DECEMBER 15-16-77 Our Regular 3.99 Westclox Electric Alarms Our Reg.

3.86 Gillette Cricket Keeper 2 Wine hghtet 5 ciganthe pouch MI, fOr. Wool, and comb combo Gdi boxed. Our Regular 2.97 Brocade Covered Earring Caddy Holds several pair ot pierced or clip earrings. Mens Sunbeam Groomer '11 Our Reg. 36.96 31.96 Ladies Remington MS120 or MS-140 Our Reg.16.97 11.99 Ladies Sunbeam 141 Our Reg.

9.78 7.99 Gondol, leather wallets. boxed for pone tAirronbrostocomb on to, tome lone color, rpll boned Plays popular tunes OM for sysryonal ITHACA, NEW YORK ELMIRA ROAD a SO. MEADOW ST. OPEN DAILY 10 AM to 10 PM, SUNDAY 12 MOON to 6 PM Our Regular 2.99 Mens Handsome Gift Wallets Our Regular 3.97 3-Piece Dresser Sets Our Regular 1.99 Parker "Big Red" Ball Pen ILIL40A 1-1110c C3oLT-'2U'l MOO (3C 1 1 r'f't Ea 0 CI- 12Col' UNBELIEVABLE WESIU IIMINNOI 1. tlirla-i i 4 it kki.Y 1 1 tut, I IA le with the jai ma ic of cHIQPScTMAgS! 1 0 ri 10:::: lt 111 AIML 40 tvd, 0 aleALWIr 7--" FRI.

11 DECEMBER 15-16-17 40--N04, 0 ,,,01 Ilk a 0 fiett. il Ca 'Pt.) kiwi 40. ft---- Mens Ladies Famous Maker a 4, 0 ilk ith 111 Itra atii.1 11 11 Mens Rem inEtlenctric Shavers Sale 7, 1 tilo, fo' fio 4 X1.111000 9 Mens Sunbeam Groomer Our Reg. 36.96 31.96 I 1 N. Ladies Remington 0 wilon 1 17 96 36 Our Reg.

34.97 29.86 Mens Remington o-- MS-120 or MS-140 11.99 )11 c-- 4, i A a 9,. 1 1 Rechargeable Radial 00uurr RReegg. 9167.897 '1' 4 I I Our Reg. 41.95 1 tlitt4 .0 1 Mens Ronson 1000 kilt Nprittoi, gs on Mens Ronson Spiromatic 96 Illo i )4 kit V. ft 1,1101114,, With Super Savings these 1 1 Our Reg.

24.87 17.96 Our Reg. 25.95 Ladies Sunbeam 141 19. 7 99 1,1 I 1.1 I 0 Ch tis 4N trir 'Uri ristmas pkasers 0 Ilf- Our Reg. IP' 14.88 103Z 2 1 laIRIP 1 :1, 9. 3 1 Santa has one just 1 vim from ci4ntoiciki Grandma I i I 8 4 1 Parents' 7 I RECLINERS LAMPS -c.

Our Regular 3.99 Our Regular 2.99 Ring 111411 10-4000 OFF I 2070 OFF aracot 12 Westclox Mens Handsome 66 Wit" II ill the right size for you. 1 I 0 Stone 0 I I 2 Set with birthstone of Electric Alarms Gift Wallets I-) 't .4 0 kk 416 each loved 10 one Sparkling 99 ASO- 299 1 ikkut 4 0 yellow or white i8k karat 00 EIC I 7 I 0 7Erich KW lig easy Genuine leather wallets boxed for givong 4 A. -1', 0 1 in in 4, 4, 04 Al Pi S'T'74', 9 'A, t' A --P'' 1 PPP ,4 71 yri II Our Regular 99e -1111-- Our Reg. i 4 0 (Jor et P. 3.86 PPP 'ft, 'IA (--.

4.1::-..:s-4-1 11 1, 0 0,,, Stocking I 1 1 PP 04, 4IP 0 i' Gillette 1 i II 1 11' PPINIF 1 1 ktlib 1 A i fir-In''''''' 1 4 Stuffers! 1 Butane Lighters 1' '1, Cricket Keeper 1 1111Pli i ni-1 1 A- a 0 0 it -1-11 dagai WEA Gillette Cricketr Ron1001 Rona 144 2 Our Re ular 3 1 99 .97 9 3-Piece Dresser Sets g--711 0 Script Mighty Match DisPosable butane i I lighter a cigarette Mirrorbrushcomb in tO1 47 0, 0 0 pouch tome lone color rpli boxed i I LT9F---m)C11 1 La1 C) 11 (II 0, of loot 0 a 111 0 0 7 tfe I lorr 1 4 I et (44, III PP li I ---7--------tt Po lir vit Our Reg. tgplo, 1 10.99 1 Si111Pk 'PPS I'll Nt't4I'vritrug 1 Ladies 3-Pc. 1) I resser Set Our Regular 8.99 "IMRE ROCKING CHAIRS I (1 Mirrored I A 99 Our Regular 3.97 I LAPP 6 1000 OFF IT Dresser Tray PI Goldton fili me trim ancomb 1 tt Pull String Music Box 1'T 9 1 4 A MO brush 1 --4 11 combo Gill boxed (--- tommi.ditimimea.,, Pfolary.a.vonoonuellar tUrIOS OM 99 IrD 1 (----1 I 44 4, 4k 0 0 4,44 4' -N, ----i 1110111101MIOW 04011011611 '4 lir )(1t--- II ::::14, Our Regular 1.99 1 CDLC 8 Oc7------J, 2 10-4000 OFF le 1 I I) re- ND IMP ID 1 ri OClOP.4. 0 Our Regular 1.50 Our Regular 2.97 127 Check out these and all the many fine values still in time for i Jewelry Brocade Covered i A 0 "Hang Up" Earring Caddy Jumbo pan mai Minor 4 il? 0 Christmas delivery. I 99 longer! I A Xi Hold.

Wrings, bracelett, 991 Holds several pair ist 441' 11 co4rnoicid gunottture UNarci: I pierced or clip earflaps 1 ikeressorltsator-Peeki It alk 111 I WESTON ITHACA NEW YORK I latt ap 0 --1 Christmas Hours: Ooan Daily 9:30 to Thurs. Fri. 'tit 9 4 m3 oirtg ELMIRA ROAD a SO. MEADOW ST. West State Street, Ithaca samommule 44 114 277.4414 IIMINII.

OPEN DAILY 10 AM to 10 PM, SUNDAY 12 NOON to 6 PM At 1 Ammo hoe Charge It! Ammo4, 0 0 C-J 2, c-)c)- 1 0 1 ---) no 0 A I 4 i Go.