Carrol Daily Times Herald from Carroll, Iowa on November 5, 1970 · Page 17
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Carrol Daily Times Herald from Carroll, Iowa · Page 17

Carroll, Iowa
Issue Date:
Thursday, November 5, 1970
Page 17
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Your Personal Finance- Waiting for Return of 6 Pet, Mortgage? By RICHARD PRATT Are all you potential 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 them worried. They see such foot-dragging as a major deterrent to any Improvement In the health of the shaky housing market. One of those who see public reluctance is Levitt and Sons, Inc., which has beep a major force in home building since World War II. In a recent inter-, view, 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 tee 6 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 A Open Daily at 11 A.M. Phone 792-9673 For family picnics and Rummer v»r- tles, order a tasty, tender. I TUB ; W : •• OF 1 CHICKEN 9 Pieces $2.50 18 Pieces $4.50 Homemade PIZZA Small Medium Large Wide Choice of Varieties A A Ai A A A A has gone a step farther. It is enticing housing holdouts by offering interim financing tq those who believe (or only hope) that rated will come down eventually. ' The company recently offered three-year financing,-• at 6.9 per cent, on homes in seven of the firm's current developments in the: Los Angeles area. •"if prevailing interest rate* should'drop at anythne during the 1 three years, you 'may ar*range your own financing at the lower rate and pay off this mortgage with no penalty," their ads promised. A table carried in the ad-offered some typical examples of the way it would work: On a $30,000 house, for example, the required down payment is $3,000. This leaves $27,000 to be financed over the first three years at 6.9 per cent. Payments (principal and interest) are $177.93 for 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' is the bottom line in Boise's chart. That shows the amount left to pay off when the three-year financing runs out. . ' ' • • i - ' 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. The president of the United States can pardon orily offenses against federal law; and not offenses against state law. THANK YOU To all who supported me in the election— .a most sincere thank, you! To all the winners — congratulations and best wishes! MARY BAUMHOVER Following is a Hat of bo»t- ••Hart in Iowa at compiled by the Midland Booksellers Association for Hits week: Fiction 1. Love JWryV Erich Segal 1. fhe^r^l/Cay*, Mary Stewart 3. Islands In U|». .Stream, Ernest Hamlnfway . 4. Great Lion of GedL r Taylor Caldwell 5. The. , French , Lieutenant's' Woman, John, Fewle* Mon-Fietion 1. Ivory thing You Always Wanted to Know About Sox, David Reuben 2. The Sensuous Woman, "J" 3. Inside The third Reich, Albert Spoor 4. Zelda, Nancy MHford 5. Body Language, Julius Fast (Distributed hy Iowa. Daily Press Association) THE TROUBLED AMERICAN, by Richard Lemon (Simon A Schuster, $5*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" their country; we're not in love with the 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 react ing to what might be described! as The American Melting Pot Boiling Over. MY FELLOW AMERICANS, by Malcolm:Boyd (Holt, Rinehart A Winston, S5.f5) This is '-a mixed bag of 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 Heffner, sybarite publisher of Playboy Magazine, to Corky Gonzales, Colorado leader of the Chicaho "Brown Power" movement. Vietnam veterans;.' Women's Lib spokesmen (or spokeswomen) and far-out experimenters in commune-living Times Herald, Carroll, l«. Thursday, Nov. 5, 1970 * also have their say. A disturbing book showing, not telling about, the astounding cleavage in American society ;today. — Kelly Adrian THE GREAT FEAR, od. by Gary B. Nash A Richard Weiss (Holt, Rinohart ;* Winston, S5.9S) A brief but valuable historical review pf the develop- iment. of white racial Attitudes in this country from colonial days to the present. The enijiha- sis is oh prejudice. against, the blacks, but Other minorities are noted as well by the nine! historians who contributed" chapters to this book: This is not comfortable reading, but it is important in understanding present and 1 future racial"'problems. 1 ;THE, POLITICS OF UNREASON , by Seymour Martin Lip- sot A Earl Raab (Harper & Row, 112.50) 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, throtigh 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 Doighfon (Harper & 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 Deightpn,: famed i'or his spy thrillers (The Ipcress File), has labored long and diligently to make mis 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. 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 Stone (Bobbs-Merrill, $6.95) Chicago Congressman Hirarrt Quinault, Jr. appears to be the fictional characterization of Adam Clayton Powell, but he has more backing, power, and prestige than the latter. With Lange's ice cream you feel 10 years SMILE AWHILE ^ CASE POWER*.EQUIP. HMMifT SAtfS HERE IT TAKES THOUSANDS AND THOUSANDS OF BUSPMANTS TO MAKE ALL THE BILUABO BALLS THAT ARE USED GOODNESS- f HOW DO "THEY EVER I TRAIN ELEPHANTS I TO DO SUCH - NDEUCATE WORK? VOL) CAN BANK ON TO GIVE NDU THE FINEST.selves OBTAINABLE'. TO YEAR-END INVENTORY REDUCTION SALE You can only buy it while we got it. So you better comt and get it before we We want to reduce our inventory for' the end of the year «o we, will sell it if at all possible. Thiii is not a complete lilting of our machinery by far, so if you don't see it listed come on out, we probably have it. And it's got • special year-end price on it too. 1 I COMBINES I I ..ask any 9 year old! Cose 1160 with cob, 14-ft. Header and 4-row cornhead | Case 960 with cab, 13-ft. header and Z-rew cornhead ' Case 660 with cab, 13-ft. header arid 2-row cornhead IHC 303 with'cab, 14-ft. header and .2-row cornhead TRACTORS 1966 Case 930 O with cob and wide front , 195S Molsev 65, extra clean 1966 Allii XT 190 aas, low hours 1968 Case 830 D COM-Comfort King 1965 AIM* XT 190 D with cab 1968' Case 930 D with cab and wide front . 1969 Case 830D with wide front, low hours 1965 Formal! 70<S "«s, a good one 1966 Oliver 1650 D, lots of power PLOWS IHC 514 steerable trip beam John Deere 516 steerable trip beam Case 616 steerable trip beam 'BdfolVatue* BRADY Chisel Plows and Stalks Shredders •ROCK BOTTOM PRICES! WINNER of S-Ub. Canned Ham TONY VOGEL of Lohrville J Social Security Questions and Answers on Social Security Problems By Dick Wieskamp (The Dally Tlmfis Herald has made arrangement* with the Des Moines office of the Social Security Administration to answer questions for our readers •bout social security and medi­ care. Send Tour questions to Dick Wi»skamp. Field Representative. Room 293. Federal Building. 310 Walnut Street. Dei Moines. Iowa S0308.) 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 it he retired at 65. QUESTION: I'll be 65 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 wife collects social security as my dependent. She just started working and will make more than $1,680 this year. How will this affect our cheqks? 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 wife is 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 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 (Times Herald Nsws 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. 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. you retire or not. But she cannot get benefits based on your work record unless you are rife- tired. QUESTION: My wife end 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 $1880 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. th§ credit for the farm income if made to you as head of th« household for social security purposes. Your wife can also earn $1680 without losing benefits but it would have to be earned in a separate business operated by her or by working for wages in outside employ* ment. Office Supplies See us for your off iee equipment. Desks, Chairs, Stands. Piling Cabinets. STONE'S CARROLL, IOWA PMCtS GOOOTHW NOAMStt S.1WO WHERE BUT Holiday. : k, COULD YOU GET SUCH QUALITY and SAVINGS! GLOVES A. LADIES' VINYL GLOVES B. CHILD'S SNO-MITT C. BOYS'CADET MITTEN D. LADIES' * «52t c MITTENS E. MEN'S KNIT GLOVES F. MEN'S VINYL GLOVES DRIVING GLOVES $1.2t REG. $1.64 RIG. $1.44 W 99' 99' 99' 99' 99' 99* ~- * A. W THERMAL LEATHER GLOVES $797 BOYS' CHOPPERS WITH UNCUS Cowhide ehepperi, warm watheble knit liner*. LADIES' MITTENS Wnyl point mittens ideal.for skiinf. Asserted colors. > ..*.lV»tJ MEN'S MITTENS Two colorful vinyl mittens for skiing. Reinforced palms. $166 V % MEN'S LINED CHOPPERS . \J0!% Long -wearing eowhide chopper .V s &z ,i/ mittens are lined with thick fleece of 50% acrylic, 50% cotton. CARROLL, IOWA 402 Eost Sixth Street

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