Carrol Daily Times Herald from Carroll, Iowa on November 5, 1970 · Page 7
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Carrol Daily Times Herald from Carroll, Iowa · Page 7

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Carroll, Iowa
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Thursday, November 5, 1970
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Page 7
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Yonr Personal Finance- Waiting for Return of 6 Pet. Mortgage? By RICHARD PRATT Are all you potenMa! home- buyers out there waiting for the 6 per cent mortgage to come back? Some of the biggest builders in the country think you may be, and your yearnings have th«m worried. They see such foot-dragging as a major deterrent to any Improvement In the health of th« shaky housing market. : One of those who see public reluctance is Levitt and Sons, Inc., which has been a major force in home building since Wo)rld War II. In a recent Interview, a Levitt executive complained that "nobody is going to jump into his car on Sunday and look for a house at 8 per cent when he has just read.that the rates will soon come down again." "I don't think we'll ever it« fj per cent, or even 7 per cent again," he said. "Rates might even go higher before they get any better." He blames governmental spokesmen for nurturing false! hopes for the return of cheap money. , A giant West Coast builder, Boise Cascade Building Co., A&W DRIVE IN < Open Daily at 11 A.M. Phono 792-9673 . For family picnics and Mimmer v»r- tles. order a tasty, tender TUB /? OF < CHICKEN 9 Piecai $2.50 18 Pieces $4.50 Homemade PIZZA Small Medium- Lara* Wide Choice of Varieties has gone a step farther. It is enticing housing holdouts by offering interim financing to those who'believe (or only hope) that rates wjll come down eventually. The company recently offered three-year financing,- at f5.9 per cent, on homes in seven of the firm's current developments in the, Los Angeles area. "if prevailing Interest rates should ; drop at any .tlrne during the'three years, you 'may arrange your own financing at the lower t*ate and pay off this mortgage with no penalty," their ads promised. A table carried In th§ ad ( offered some typical examples of the way it would work: On a $30,000 house, for example, the required down pay-, ment .is $3,000. This leaves $2?,000 to be financed over the first three years at 6.9 per cent. Payments (principal and interest) are $177.93 tor the : first 36 months. To buyers contemplating mortgage interest rates hovering in the 9-10 per cent zone, any talk of money at 6.9 is bound to sound good. The only drawback 1 Is the bottom line in Boise's chart. That shows the amount left to pay off when the three-year financing runs out. ' , On the $30,000 house! that's $26,109. By the time that amount comes due in 1973, the buyer is expected to have a regular mortgage commitment lined up ready to finance the remainder of'the debt. What the buyer will have td pay for that mortgage in 1973 is anybody's guess. And that's the principal drawback to this interesting scheme. Buying a house in which the long-term financing is but a glimmer in the foggy future is an exciting form of interest rate roulette. Whether it can also be considered sound financial management for the .typical family is questionable. flmat Herald. Carroll, !•. thunder, Ne». J, It i tUt «l but* •alters In lawa •» eamplleej by rh* Midland laakaellart Auotlatlon for fhte *Mk: 1. Leva Stery, irieh Steal 1 Th» CrytUl Cm, Mary tHwart I islands In fha ffifaam, I mast HawiHjway ." 4. Oraat Uan «f Oast, : Tayfof CaloVetl 5. The , pranch . Lieutenant's 1 Woman, , . , John Pewtes Nan«Fletlan 1. Ivaryttilng Yao Always Wanted ta Knaw Abaut Sax, David Reuben 2. Tha Sensueus Waman, a tn 1 Inside Tha Third Ralah, Albert Spaar 4. ZaMa, Nancy MMar* S. Body Languaeje, Julius Fast (Distributed n<r Iowa l>»Hy Fret* A*socia,tiAn> THE TROUBLED AMERICAN, by Richard Latvian (Simon A Schuster, $5.«) The Silent Majority is as full of grievances as The Vociferous Minority, according to Mr. Lemon who has put together this book from data collected by our ubiquitous Gallup , : Poll and almost-as-busy-Newsweek magazine 'statistical staffers. While most Americans,, he concludes, "love" th«ir country; also hav« their say. A disturbing book showing, not telling about, the astounding cleavig*. In American society today. - Kelly Adrian THI GREAT PEAR, ad. by Gary B, Main A Richard Weiss (Halt. Rinfthart A Winston, $S,«5) A brief but valuable historical review pf the development, of white racial attitudes in thii country from colonial days to the present. The emphasis is on prejudice against the blacks, but other oiindritlea are noted §8 well by the nine ^historians who contributed chapters to this book; This is not comfortable reading, but It is important in understanding presenjt and'future racial'prob- Ueins. THE, POLITICS OF UNREASON, by Saymeur Martin Lip- sat A Earl Raab (Harpar A Raw, $12,50) This is a big, highly detailed study of right wing political movements in this country from 1790 to 1970 — their causes, their followings and their 'influences on the major parties. Although early groups are studied, such as the pro-Civil War Know Nothings, the bulk of the book goes from the Ku Klux Klan in the 20s, through the 1930 movements, the McCarthy era and finally the John Birch Society and the George Wallace campaign. The book has been awarded the first Gunnar Myrdal prize for "books of distinction in the study of human behavior." BOMBER, by Len Daightan t Harpar A Row, $7.95) In our day, a documentary novel is not only a labor of love but one of. comprehensive and time-consuming research. British author Deighton, i famed i'or his spy thrillers (The Soricil Security Questions and Answers on Social Security Problems By Dick Wietkamp The president of the United States can pardon only offenses against federal law, and not offenses against state law. THANlC YOU To all who supported me in th« •Uctien—- a most sincere thank, you! To all the winners—congratulations and best wishes I :; •"•'•. MARY BAUMHOVER we're not in love with th« blatant money-status machine into which America has evolved or with the seething hatred of each self-righteous economic- ethnic group for the other, "the question is," he asks, "has something, gone wrong, or was something wrong all along?" He doesn't answer the question. But, his book is a comprehensive, if unsettling, survey about how all kinds and conditions of people are reacting to what might be described as The American Melting Pot Boiling Over. MY PILLOW AMERICANS, by Malcolm Boyd (Holt, Rinahart J, Winston, $5.95) 1 This is it mixed bag; 0f in> depth interviews by the author of the best-selling Are You Running With Me, Jesus . . . His fellow-American include individuals as diverse as Hugh Heftner, sybarite publisher of Playboy Magazine, to Corky Gonzales, Colorado leader of the Chicaho "Brown Power" move- mjfcnt Vietnam veterans; Women's Lib spokesmen (or spokeswomen) and far-put experimenters in commune-living Ipcress File;), has labored long and diligently to make this major work-accurate in every detail. For instance, weather conditions in England and on the Continent during the 24 hours of book cation must coincide; dialogue must be unmistakably that of 1943; the construction of World War II bombers and fighters, both;English and German, must be described without error: This book's focus is on a Snow Tires Snow time means snow tires — more than 18 million were sold last year. Here, a technician installs small metal pin in snow-tire mold. When tire is vulcanized, pin leaves a hole so metal stud can be inserted into tread. <Th« IJdHy time* Herald rift* mud* arrangement* with the D** Moines office of the Social Security AdrnlflUtrfttlnn to nn- ftwer que«tlon« for our render* »hmtt tocla! AetMiTtty and medi- care. Send your question* to Dick Wl««knmp. Field Rep- S >»entftt1ve. Room 2»S. Federal tiiming, 210 Wrtlntit Street. DM MolneS., Town 60308.) QUESTION.' My father wants to retire at, 62. Will he be able to get social security? ANSWER: Yes. but his monthly checks would be 20 per cent less than the amount he'd collect if he retired at 65. QUESTION: I'll be AS next February. My wife thinks I may be able to sign up for retirement benefits before my birthday, instead of "waiting until the last .minute." Is this correct? ANSWER: Yes. It's a good idea to apply 2 or 3 months before you plan to retire and no later than the month before you reach 65. This way you will be sure of getting all the benefits you are due. including full Medicare protection. QUESTION: My wilt collect* social security as my dependent. She just started working and will make more than $1.680 this year. How will this affect our checks? ANSWER: Your check will stay the same, because your benefit is only affected if you work. But your wife's benefit will be reduced according to the amount she earns. QUESTION: My wtfa IB 62. Can she get social security retirement benefits if I don't retire? . ANSWER: If she has enough social security credit on her own to qualify as a. retired worker, she can collect whether bombing raid over the Ruhr and interwoven into the story are the private dramas of a bomber pilot at a rural air station in England, a Luftwaffe fighter pilot across the Channel and a commander of a radar station in the Ruhr Valley. In Deighton's precise reconstruction of likely events and his imagination of men's thoughts before and during the climactic air battle, the reader is made deeply aware of the tragic ironies of war. — Mary Ann Riley KING STRUT, by Chuck Stem (Bobbs-Merrill, $6.95) Chicago Congressman Hiram Quinault, Jr. appears to be the fictional characterization of Adam Clayton Powell, but he has more backing, power, and prestige than the latter. With sordid detail, Mr. Stone, a widely respected black commentator, unfolds to the reader the dramatic lives of big-wigs in Washington, how they operate, and who supplies them with their spending money. The author takes the climate and events of today arid shows what could be happening in our capital. If you don't doubt your congressman, read this novel and compare. If you do doubt him, Quinault says "Walk in love, Baby." But carry a big stick. — Robert G. Riley, Jr. FOOTBALL BANQUET (Time* Herald News Service) MAN N-.I N G - The annual football awards banquet of ; the Manning Community School will be at 6:30 p.m. Nov. 9 at the elementary school cafetor- ium. you retire or not. But she cannot get benefits based on your work record unless you are fft- lired. QUESTION: My wife and I are both receiving social security based on my having paid into social security. We now live on a small 40 acre farm and I never earn over $1680 in a year. Since we file joint income tax returns would we be able to raise more livestock and make as much as $3360 from the farm for my wife and myself? ANSWER: No. Even though you file joint tax returns the credit for the farm income if made to you as head of tha household for social security purposes. Your wife can also earn $lft80 without losing benefits but it would have to b<$ earned in a separate business operated by her or by working for wages in outside employ; ment. SCHOOL HOLIDAY MANNING - The Manning Community Schools will close at 2 p.m. on Tuesday, Nov. 10, so that faculty members may attend in-service meetings. There will be no school on Veterans' Day, Wednesday, Nov. 11. Office Supplies Set us for yeur office equipment. Docks, Chairs, Stands. Piling Cabinets. STONE'S CARROLL IOWA Lange's Smooth-Tex ice creafn really make you feel 10 years • *a ask any 9 year old! SMILE AWHILE^CASE POWER&,EQUIP, tour** MLimtt Quantom. TAKES THOUSANDS NO THOUSANDS Cf •LBPHANTSTOMAKE ALL THE BILUARO BALLS THAT ARE USED. HOW OOTH&V EVER TRAIN ELEPHANTS TO DO SUCH TO 6IVE NOU THE FiNES OBTAINABLE- YEAR-END INVENTORY REDUCTION SALE Y*u can only buy it while we got it-. So you belter come and yet it before we seU.if. Wje want to reduce our inventory for' the end of the yeor 10 we, will sell it if at all possible. Thii ii not a complete lilting of our machinery by for, to if you don't see it listed come on out, we probably have it. And it'i get a special year-end price on it too. COMBINES Case 1160 with cob, M-ft, header and 4-row eernheed ' Case 960 with cob, 13-ft. header and 2-row cernheed • Case 660 with cab, li-ft. header end. 2-row cernheed IHC SOS with'cab, M-ft. header and .2.row eornhead TRACTORS V 19^6 Cose 930 P with er-b and wide front 195S Ma*sey 65, extra clean 1966 : Allis XT 190 e««, low heure 1968 Case ISO 0 COM-Cemfort King 1965 Allis XT 190 D with cab 1968 Case 930 D with cab and wide front 1969 Cose 83OB with wide front, low hours 1965 Farm«ll 706 »oi, a good one 1966 Oliver 1650 D, lots of power AMERICA'S MOST UNUSUAL SERVICE STATIONS! WHERE I BUT Holiday V COULD YOU GET '} SUCH QUALITY f) and SAVINGS! PLOWS IHC 514 steeroble trip beam John Deere 516 cteerable trip Cose 616 steeroble trip beam FOLLOWS THE CROWD 0.. GLOVES 1. LADIES'VINYL GLOVES 99* B. CHILD'S SNO-MITT ,% 99' C. BOYS'CADET MITTEN ."& 99" D. LADIES' *Si¥ c HITTERS IS* 99' L MEN'S KNIT GLOVES 99' F. MEN'S VINYL GLOVES 99* DRIVING GLOVES 99. YOUR CHOICE l*J*i. F. THERMAL LEATHER GLOVES beam BRADY Chisel Plows and Stalks Shredders :''.:;'• ••"'••:':•"-."' at ' •• '•' • HOCK BOTTOM PRICES! WINNER of S-Lb. Cannad Him TONY VOGEL of LohrvilU •OYS' CHOPPERS WITHUNMS Cowhfda «htapers, worm waihabfa knit liners. ,$066 ••'v^: LAMIS' MITTENS idtoi-fof •kUnail ' MIX'S MITTENS IV* colorful vinyl mittens for tk'ting. Rf $166 IBM mmmmm wm MEN'S LINED CHOPPERS Long-wearing cowhide chopper mittens are liiwd with thick tlMGt' of 50% acrylic, 60% cotton. CARROLL,, IOWA 402 East Sixth Street

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