The Journal Herald from Dayton, Ohio • 15

JOURNAL II Ell ALP 15 Tuesday. Mar 30, 19t7 DaMon, Ohio Mortgage Lending Ilemaiita At March Level Set Savings Record In April In its monthly report, however, the board says future lending commitments rose a sharp 18 per cent during the month to total more than $2 6 billion as of April 30. The board published its figures as the National League of Insured Savings Associations said the outlook for housing and home financing is anything but bright in the months ahead. In reiterating its contention the nation again will be hit by tight money during the second half of the year, the league foresees no chance for a lowering of the 6 per cent interest rate on mortgages insured by the Federal Housing i Allr rrm I' THE FEDERAL HOME loan bank board it ports the. nation's savings and loan industry attracted an April record $o23 million in net savings, but mortgage lending remained at the March leveL Arabs Put Boycott On Oil, Shipping I 'M 1-1! rrr.tL.- administration.

Robert C. Weaver, secretary of Housing and Urban Development, suggested earlier this year the possibility of a reduction in the FHA rate. 1 "Events have now completely discounted this possibility," the league says. "For the balance of this year money will be available, but at a price." The Home Loan Bank board reports the net savings gain of the 6,188 savings and loan associations exceeded the previous April record of more than $463 million in 1963. It compared with a $772 million drain for April of last year when interest rates were increasing and mortgage money was becoming scarce.

For the first four months of this year, Ls attracted more than $3 billion in new savings, almost six times the total for the same period last year. This was still 12 per cent below the record $3.4 billion for the January-April period of 1963. Total mortgage loans closed in April totaled $1.3 billion, about the same as March, but 29 per cent below April of last year when volume was declining. FNMA Increases Rate lalf rvrfa kr Tt alt Uetaa Contenijiorary Stjling 3Iark IVew $185,000 Quarters New facility more than triples size of building used 12 years WAVI--WDAO Move To New Studio DAMASCUS, Syria-(AP)-: -Arab countries will boycott any shipping company whose Effect Of Ban In U.S. Held Negligible WASHINGTON (AP) The effect of a halt in Middle Lliast oil exports to the United States would be negligible on domestic needs, the director of the U.S.

Office of Oil and said yesterday. Last year Saudi Arabia furnished 4.5 per cent of the crude oil imported by the United States. Kuwait sup- plied 1.54 per cent and less than one per cent .94 came from Iraq. "We could get more from Venezuela," retired Rear Adm. O.

Lattu said. "There's also considerable unused reserves in Texas." Lattu heads the oil and gas division in the Ulterior depart-- ment. But he said the effect could lie substantial if Western I Europe and Japan were cut off, since "free Europe gets about 50 to. 55 per cent of its oil from the Middle East and 1 7 Japan gets 75 to 80 per cent." The Arab-Israeli crisis has raised the possibility of a cur- lailmcnt of oil shipments through the Suez canal. Egypt supplies very little oil to the United States about one-tenth of one per cent last iyear.

vessels or tankers carry strategic materials through the Gulf of Aqaba to Israel, the Arab Boycott office announced yesterday. Sending strategic cargoes to Israel through the blockaded waterway will be regarded as "creat ing an international crisis," the boycott office ruled. It said the new ban applied particularly to petroleum. Under normal boycott regulations, only individual ships doing business with Israel are blacklisted. The navigation companies would be boycotted if their ships "either under cover of a charter party or any other cover" violate the blockade, 1 a statement added.

Also on the economic front, Baghdad radio announced the government of Iraq had notified all Western oil companies in the country of its decision to ban oil sales to any nation aiding or supporting Israel in case of war. The government demanded the oil companies give written assurances they would cooperate in banning direct or indirect shipments of Iraqi petroleum to those countries, Baghdad radio said. The companies notified! were the Western-owned Iraq Petroleum company, and its subsidiaries, the Mosul and Basra Petroleum companies, the radio said. These firms handle all of Iraq's oil exports, most of which goes to Western Europe. It c-.

4, VysmW, 1 -XT- 4.15 per cent on 60-89 day notes and 4.25 per cent on 90-270 day notes. The old rate was 3.93 per cent for all maturities. The association lowered its rates on discount notes 11 straight times before yesterday's action. Interest rates on long-term borrowing already have increased in recent weeks as corporations continued to seek money by issuing debentures and bonds. FEDERAL.

NATIONAL. Mortgage association yesterday announced the first increase since last November in its rates on short-term discount notes. The action indicates a firming in interest rates in this sector of the money market following rapid declines in recent months. The association said the new rates will be 4.05 per cent on notes maturing in 30-59 days; Steel Sees Good 3rd Quarter By Brainard Piatt Jeuraal Mrrald Waif fVrllrr WAVIWDAO has started the move to a $133,000 plant on Cincinnati street, across the parking lot from the cramped quarters it has been occupying since April 13, 1935. H.

K. (Bud) Crowl, president, predicts the expanded and modern new home will pay a variety of dividends: 1 A better hi-fi sound, due to the sophistication of the new equipment. 2 INCREASED BUSINESS because the new plant will provide more space for the people to operate more efficiently. 3 Expansion of recording of commercials for sponsors and advertising agencies. Crowl points out WAVI-AAI went on the air for the first time from the new building last Sunday morning and WDAO-FM will sign on from the site next Sunday.

Offices are scheduled to be moved into the new building Thursday. The one-story brick structure provides 7,600 square feet compared to the 2.400 the stations have been using. WDAO has been operating from a trailer adjoining WAVI. IN THE NEW STRUCTURE, to be shared equally, each station has its own broadcasting studio, separated by a public affairs studio, which both will use for news and interviews. The building will have a community room for 60 persons, individual offices, a snack room and patio lounge for employes, twin recording rooms.

Crowl says it is, so far as he knows, the first time a studio building has been custom built to house separate AM-FM operations together. "Right now," he says, "the two stations are contributing Just about the same amount of business, but we anticipate the day when WDAO wiU be the larger of the two." WDAO-FM has 50,000 watts of power and WAVI, which must sign off at sunset, has 250 watts. CROWL RECALLS WAVI started out In Springfield as WWSO, where it had operated for five years. The Dayton THE TRADITIONAL summer slump in steel production may not be as severe as usual this year, Steel reports. The third-quarter slowdown usually is marked by wide-spread production curtailments, vacation shutdowns and the phasing out of current year auto models.

Industry sources expect the pattern to prevail this year, but say the slump won't be as severe. "In fact," says Steel, "some steel executives anticipate a third quarter tonnage movement equal to, possibly in excess of, the current tliree-month period, "Thinking Is Influenced in some degree by the government's defense set-aside lor third quarter," Steel says. "This has been established at 1,311,540 tons, equal to about 6 per cent of anticipated shipments of finished steel by the industry during the period." Sophisticated New Equipment K. Crowl, Chuck Crccce operators purchased it March 1, 1934, and changed the name immediately to WAVL March 1, 1955, the atation moved to Dayton, in the basement of Tommy Sutton's home, and one month later it moved to the site it now Is leaving. "It was built originally to house 16 persons and we now 36," he said.

"WDAO went on the air Sept. 15, 1964, from studios in a trailer." An example of the growth is seen In the cost figures. "The building we are leaving cost $27,000 and the equipment about $20,000," he said. "Just try comparing these to today's $185,000." Grain Range 5.95", 3.mi 2.87 4 5 94 4 2.87-4 Preview CIom I low CHICAGO AP- Open High Low WHEAT Jul l.SS'e 3. ST 1.S5H 169'i Dec 1.7SV4 1.WS 174 Mar 1.50 1-80'i 1.78:i roft.v Holiday Trims Auto Output Jul 1.S.V4 1 354 1.97H 1.70H 1.76'4 l.SOtt l.SSH 1.37 1.3"4 1.4014 73'i 73', 1.S8H 1.69-', 1.7SH 1.79 1 34H 1.3.V, 1 34 139 71 '4 73'i 75 134 1.35H 134 1.3SH 1.39': I.M'4 2.M'4 Mar 2.87V4 2.S7'4 SOYBEAN Oil.

Jul 10.19 10.19 Aug 033 1033 Sep 10.24 10 24 Oct 10.10 10.12 Deo 10.09 10.09 10.09 1009 Mar 10 08 1 0 09 SOYBEAN MKAI, Jul 72.90 73 15 Aug 72 90 73 00 Sep 7230 72 80 IVI 72 05 72.15 Den 72.00 72.10 72.15 72.20 Mar 72.50 72 55 OIOICE MTEKUS 26.40 36.53 Aug 27.40 27.45 rict 27.92 27. 83 Dec 2.o7 Kel 38 .20 38.37 Apr 28.40 28.45. Jun '68 38 55 28.60 Auf '69 28.60 28.65 1011 10.20 10.34 mi7 10.04 10.03 10.04 72 50 72 60 72.25 71.90 71.93 73.00 72.43 39 40 27.40 27. SO 2S.00 38.20 28.40 28.55 28.60 10.1S 10.20 10.21 loos 1007 10.04 10.05 72.90 72 45 72 00 72 00 72.10 72.43 29.43 27.10 27. SO 2S.00 29.25 28.45 28.60 28.65 Mar 1.39 43 3TA Jul 73H Sep 7,1 5 Deo 7 Mar RYE 10.19 10.24 10.21 10.12 10 09 1007 10.07 72.45 72.55 72.10 71.

71.73 71.73 72.15 29.25 27.23 27.70 27.95 29.15 28.37 28.52 28.37 73'4 735i 76 ii 71 72 4 75 '4 Job Tally Reflects Perils Of Dropouts Through last week, Industry production for the calendar year stood at 3,222,549 units. This compared with 4,066,670 units at this point a year ago. Jul 1.34 '4 134 1.3'4 130' 1.34 1.3,1 i.3i 134S Sep 1 37'4 Dec 1 31 '4 Mar 1.344 HOVBEANS 1.24 '4 1.37U 1.31 '4 1.3414. 2.li 2.M'4 2.81'4 2. SOW 1.34i 1.31'i 1.34", 5 2.8.3 1 3.83 2.81 S.W'4 2.S5 3 3.

SI Jul 3.8.3'z Aug 2.5 Sep 2 '4 Huv 2.81 5IH 2.84'i S.Sl'i 2.8014 AUTO PRODUCTION is tapering off in U.S. assembly plants because of Die Memorial day holiday. Output in the abbreviated work week is expected to reach about 165,000 cars and bring the May total to a monthly calendar year high of 755,000. The previous monthly high in 1967 was the 683,194 car count last March. In general, the industry was on a four-day work week because of the holiday, although there was a possibility a limited amount of Saturday overtime would be scheduled.

General Electric Pre-Season The hazards of being a school dropout are reflected In the Ohio State Employment Services' April report for Dayton area unemployment. Of the 5,489 men registered with the employment service for work, 21 per cent quit school before the ninth grade and 42 per cent before high school graduation. Some 24 per cent completed high school, but did not go further, 10 per cent had some college, but only 3 per cent were college graduates. Of the 4,438 women applicants, 9 per cent did not rinlsn the eighth grade and almost 40 per cent had some high school. New "Match" To Bring Full Utilization Of Tree About 42 per were high school graduates wl no college, while 9 per cent had attended college wtth-ut graduating.

Still scarce and much In demand on the labor market are electronic engineers and technicians, caseworkers, counselors, tool and die makers, machinists, general duty milling and pressing machine operators. Dayton area unemployment declined 900 to 8,200 In April, from 2.6 to 2.4 per cent of the labor force. Employment in-, creased 2,800 to 338,300. These figures were released yesterday by the Dayton office of the Bureau of Unemployment Compensation. According to the bureau weekly wages of factory production workers were up to $144.11 or $1.96 more than in March for a 41.6-hour work week.

As a comparison, the bureau noted that a year ago em-, ployes received $144.29 for a 42.9-hour work week. During April, a weekly average of 2.282 persons, unemployed a week or more, applied for Jobless benefits, down from the 2,710 of March, but above the 1,509 of April a year ago. Scottish Bookie Held For Seeking Secrets DUNOON, Scotland (AP) A 30-year-old Scottish bookie in this town only three miles from the U.S. Polaris submarine base at Holy Loch, was ordered held without bail on charges of trying to get secret Information from an American sailor. William McAffer was arrested Sunday after an Investigation by Dunoon police and U.S.

naval authorities. Don't Be A Holiday Casualty 24,000 BTU CENTRAL AIR CONDITIONING orsLY U. S. Treasuries DRIVE CAREFULLY! 4 You might say recent merging of Champion Papers of Hamilton with U.S. Plywood made it possible for the two big operations to make use of everything on the "pig" even the grunt.

Top executives put it more directly when they say the new organization will bring Named Most Valuable BOWLING GREEN, O. (AP) Sophomore Ken Kelly of Cleveland, a quarter-miler who tallied points for Bowling Green State university's track team this season, was named last night as the team's most valuable performer. 4 4 37 4 73 4 7S 4 71 twelter Ihronch anal her lummerr This whola hiMit central y. tem work! Ihrollth lha ducts of your furnace, puta out BTl 's nf conlini power. That' power enourh, with ade-qualo dilillnr, to rool very room In mml 1.500 qiiare-fnot hnuteii.

Thin OK intern In. chide outdoor conden. In anil, roollnl coil and Ihermn.lRt (lntallatinn and tttblnt extra). Urn lira of Hummer comfort at thli limlted-tlma. low pra-eaoa prlcn yon needn't pay penny till July! Don't kirk yourwlr later ea your G-E Central Air Conditioner dealer now for his prlro and easy credit terms.

4.70 lmmmjjktm 'Miiiiii naif AO nnwi P4i mkt. m.sr emieAr il'LV Manufacturer' urxetcd retail price lor eondena-Inc unit Model TA034 with root. In roll and thrr. rmiatat. Installation and tubing lira.

4.0 4 74 TfEW YOUK AP Onlnc mr the 4 T3 A'H VI counter lt.S. OfHtrotmrtt Trurv hnivK Vi Tin Sp 91.13 1 T) hid. aiked, net chanse and nld 72-67 Dee 1 "1 Monrtnv: 4 73 9VH Mt I'l'y R7 8J .1 in Tit 73 MS II 3S 7 W1.29 WTt 3W 4'. 7 Mil 31 WJ4 M'J 4(11 i 74 ft? 3 07 10 RS 12 4 1 74 9114 "1133 Ndv 99 13 99 IS 4 4 Ml 91 4 97 30 97 34 1 JSl Mi 4 30 4 89 ych 99 IS 99 311 4.33 1. "1-78 SI jn K3.4 2it 60 154 Jun 9 It 9S '33 4 4 31 3 1.1S 4 S9 fx-t 99 99 4 4 4 40 KV75 93 3'j 9 R4 Drc 5 30 34 4 3 90 FT .3 S3.1I 4 7fl Kch 9 IS 9 30 4 4 S4 S3-ST 9" I 38 91 13 3'5H 79-65 V10 S3.

IS 4 4 3d 3 IS 4n 70 Au( 9 9S 10 4 .37 4', 94 S9 34 B9 71-W 93 30 94 6 4 17 3 i3 ri MIS 4. 71 97 3S 94 4. 3'I S1.3S 83.12 3H 71 97 97 4 3 4s 72 fVb 97 4 97.13 4 S3 Prlr juJ In dollars 2'il 7347 Jul 81 34 4.38 Vcnnrii. .13 4 .13 4 S3 4 4 77 .13 1S 4 79 43 .4 477 .13 4 X3 .10 413 .30 4 I i 4- end thirty Ed Zwiesler, CPCU Jim Lent Don Lehrmitt Kath. Champion Bob Payne Bob Payne, Jr.

Indapcndtnt Agtnts Daniel C. Brower Insuranct Agency 1018 Talbott Tewtr Phone 228-4135 ST" 0t ri. if i it hr-r- v- 5 Over The Counter Quotation from NASD are representative Interdealer price ai of approximately 3:30 m. yeetarday. Interdealer market change throughout th day.

Price An not Include retail markup, markdown, or commiuton. Foreign Exchange NKW YORK 'AP) noln foreign exchange In dollar and decimal! dollar. Won. Trl. Canada la NT (free) .9347 EiKorr.

Heating and Air Conditioning 1755 Spaulding Road 254-3501 about "full utilization of tha tree." John P. Schlick, executive vice president, points out "there are definite benefil from hanesting to fit a number of end uses. "As soon as we ran add wood products facilities to Champion's timber areas we will get these benefits." For example, he said, during first part of the year the paper picture was better than last year and the home building wood products side was worse, so the merger tended to stabilize these things. This perfect match approach was reflected in an announcing ad showing intertwined corporation hearts carved on a tree. The union makes the resulting firm the second largest forest products company, behind International Paper.

$1 Billion For Jets SEATTLE (AP)-United Air Lines plans 1o start buying $1 billion worth of new jetliners this year. $80 Million Pulp Mill NEW YORK (AP) West Virginia Pulp Paper plans construction of an $80 million pulp and paper mill at Wickliffo, Ky. War Risk Kales Soar LONDON (AP) War risk insurance rateg for shin-ping in the Middle East and" Hong Kong have been raised almost fourfold by marine underwriters in London. Britain ipmindt 79V) .311 rtoya future 2 7940 dura future 2 7932 1 794S 2 2 7914 2.797 .0301.31 Do You Know What's Really New In Modern Construction? BANKS Flret Net'1 bnlc Third Nat'l hank Winter bank INDUSTRIALS Alrrtreim American Greetings Dayton Maileabi Iurlron Kider Reermaa Bnh 7van Klxihle Kriach' ini'l Lite Otnhe tnduttrle day future 2 7'i7 neiKiiim 'franc) Franc (franc) Oermanv IWeatern- deutacn mark) Holland Kulldar) .27753 Italy (lolra Norway (krone) Portunnl imrtido) fwrden (krone) Switzerland (Iranc free) 2117.30 Denmark (krone) .1444 .277.330 Hid 2'i .11 3.3 38. 41Ji 1'4 20 20 27i 2K--4 Itri li'.

on 17 13'4 9 III 114 1.3', 12'i 13-- II1 11, 27 S3 MS 31 'i 13'4 It 3.3 ns'i 2n't 31', 27', Ouarrllan (Themical It'i 1 1 'i BUY A RAMDLER LATIN AMERIC A Anrentln (peeo free) Brar.il (cruzeiro. free) S7V Mexico (peen) Venezuela (bolivar) .2237 FAR EAT Ailatrall (dollar) 11S Honf Koni dollar .174.3 Japan (yen) OH37HS Mutter (TonwMldated H. K. Mncimnald Mldweiit Kenlty ixd) Monarch Marking Nationwide A Reynold a Reynold Rockwell Mfg Sorg Paper Standard Regi(er 1'echnotogy tnivia .9.7.30 .2327 1.1 .174 for pound for pound not a better buy anywhere, would you believe? lack lickir, Pin. Ds yourulf a favor.

Find out what's rsttly ntw In medtrn eon-ruction and avoid 4ha mittako of invaiting in ytitardoy'i mithodi and matarialt. Do you know that lutlor offori moit oeonomleal utilify ftruetura that goat up by tho clock? Da you know that lutUr offart factory-intulatad, pra-aitamblad wall tysfam callad MoneponO to fina that it if baing ipacifiad en fint-eloii traditional conitruction? It it available eovarad with Du'ont Ttdlor'FVF, now colorad miracle film lamination that's to durable Butler will, at a limited introductory offer, guarantee the coating for IS yean. Heard about Butler't tomationol new F-l 03 Intuleted wall and reef panel? Only an inch thick, but the most of icioai curtain wall panel of itt kind available today yet priced with "economy" conitruction. Or have you heard about Butler Modu lor Wall smart, contemporary wall of finett quality to maintenance-free, your firtt cott it virtually your last? And did yeu knew that Butler tt the only metal building manufacturer able to offer (at tmoll price premiumlan aluminum roof with a 20-year guarantee? Like to take the guettwork out of conitruction? Then find out whet's really new end efficient! Call ut. We'll provide free literature en all details of Butler buildings.

And oik about Butlr't eaty finance plan. 'DuPont registered trademark MEN now nmri '7ffl Station Wagon, 119, Loaded lltlitL With Equipment, Keg. $3117.55 ZfmlD nrnn IDoor Sedan, 141, Fully Equipped IlfcUbL And Smart. Beg. 76' Z45U nmri SSO 4 Door Sedan, 118.

Terrific Value CAflPA KbuCL Regular Price 35 q5U Hair Pieces FOR YOU All Types CUSTOM FITTED AT PRICES YOU CAN AFFORD Calf or on eppointmtnt 4 Door Sedan, 118, Everything But the Sink, Reg. $3113.05 AMBASSADOR 52875 11 MANY OTHER TERRIFIC VAlUES PRICES YOU CAN'T AfFORD TO PASS UP CLEAN RECONDITIONED USED CARS COMPLETE SERVICE AVAILABLE AT ALL TIMES BECKER RAMBLER SALES, 3500 SALEM 277-8981 NORTHTOWN N. item Henninxlon (pto ite p-pripfn I HIOtl S14 IIJ4 (ETTERINS 3iwdiaoe In Shr.l.per I Fl rHdNEl il.lMIS DEALER Phono 434-3300 ill STUDIOS HAIR Execufve 0fces: Financial Soulh Building 5335 Far H73 Avenue Dayton, Ohio 45429 fit A 5.