Logansport Pharos-Tribune from Logansport, Indiana on May 22, 1957 · Page 9
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Logansport Pharos-Tribune from Logansport, Indiana · Page 9

Logansport, Indiana
Issue Date:
Wednesday, May 22, 1957
Page 9
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Page 9 article text (OCR)

Wednesday Evening, May 22, 1957. Unique Vets Bond Issue Approved by California UNIQUE -VETS BEND ISSUE SACRAMENTO, Calif.—California voters in November overwhelming approved a $500,000,000 bond issue—the Veterans Bond Act of 1.956. the only • one of its kind in the United Stales.- The 'half billion dollars derived from the bonds will be used to fi- nance farms and homes for some 1,400,000 California veterans 'declared eligible under the program. The bond act got such widespread approval throughout the slate that it was declared passed after the first few hours of vote counting Nov. 6. It will continue a real estate financing plan that- for 34 years has provided the lowest rates of interest at no cost at all to California taxpayers or the stale. At 5 Per Cenl Under the terms of the act, veterans who entered the armed services from California are entitled to borrow up to $15,000 to finance homes or $40,000 for farms. The act specifies a maximum interest rale of five per cent, but the rate actually has been set at three per cent and the repayment period al 20 years. Of the veterans' payments, the principal and 2Vi per cent of the interest goes to repay the cost of the bonds, The other'half per cent pays the administrative costs . of the program. This compares with four per cent and up on G-I and other types of financing. For 34 years the veterans have repaid the bonds without cost of the state. Reserve Fund The bond act specifies that the .maturity dates of the bonds be fixed so as to coincide as nearly as possible with tihe receipt of repayments from the veterans. So' prompt and faithful have been their payments that the bonds have teen paid on schedule every time without state money, and a special reserve fund of several million dollars has been built up to meet unexpected 'contingencies. Since 1922, that state has arranged 2,000 financing contracts under the plan. Some 59,000 still are on the books, with conlracis held by veterans of World Wars I and H and the Korean War. Since housing is a serious prob- : lem in California, the low—interest loans are . popular. During the course of a month, an average 800 properties are financed under the plan at an investment totaling some $7,000,000. Payments .. cost the veterans •about $5.55 a month for each $1,000 they borrow. For a full $15,000 loan on a home, the total payment is $83 a month. The highest point in New York Stale is Mt. Marcy in the Adirondacks. It is 5,344 feet high. Logansport,, Indiana. Pharos-Tribune Nln« Pennsylvania Veterans Hold Regular Session Harry E. Hirst spoke on "Friendship" at the regular meeting of Ihe • Pennsylvania Railroad Veteran Employes Association, held Tuesday night in the Barnes 'hotel assembly room. A. B. Clcgg told of a recent trip to Florida at the session, at which Carl J. Mande'rs, president, was in charge. Refreshment and cigars were served to the 33 members present. Fire Station Visited By Local Scouts Six Cub Scouts of Den No. S, Pack No. 312, toured the Central fire station Tuesday afternoon with [heir den mothers, Mrs. Dorothy Maudlin and Mrs. Catherine Kough. The boys were Tommy Kough, Steve Crano, John and Mark Maudlin. Hal Oliver and Kenny McManus. Read the Classified Ads Reg. 4.98 Gallon TH. .a«le»t typ« to o*«i Clows on nnoo*- , •ojtly — a«rvaMy mafc.i pcHntlng fun4 Woth.i of* took, with phrin wot**. ••9. 2.19 SIRO-01O SATIN IMAMHi Vie with I*** IMM IM** tef woodwork, trim. Save $1.05 A Gallon On House Paint Reg. 5.49 Gal. in 2 gal. can. White. THE WAY TQ QUALITY AND SAVINGS J.:K:/.v.^:.-&.wv:ivsafc^ ^s'VJii^.-ii&j: 1 ^„>•!;.. .--.-V , •. .< . LAST 3 DAYS! SALE ENDS SATURDAY, MAY 25th .44 gal. Mildew raiiitanl, tulf cleaning. Take ad van (ago of .ipocicif i-ell- ing in 2-gal. pails. Stay-fresh con- taint whito lead for tough, locked togaihor film; titanium dioxide for •xtromo whiteness.; 'dncoxido for hardnei*. Gallon CUVBTI up to 600 iq. ft. 1-coat, Say a today. 5-€---S«||-..WaH Six* '•ru.h -.,'• •" •'•',/'••.• f'-'M &#'•*$•:.! Snewhit* Bnomel ». At H«tlf Pri«*l IUg. J-OH. 4.58.. 3.43 Orf<xt*»f Rlcfe oleamlng whtto itayt whit*. Fr«»h, -lonltary for kitchen or bottt. Touyh, mar r«tlitont wrfcc». WORKMASTER LADDERS "Put You On Top Ol Of The Job". Str<Mtfj/ Handy for 30-FOOT WOOD EXTENSION LADDERS Meg. 17.9S 1.88 ; , : Hybn, hog brMI» '' ; mfMrvr* brukh for Plattlt ftrafMloth *eg. ««, eift «... Clear, Hghtwelijril, and solvftnt resistant. Drfad .saint shakes rlaht off surface. 1.tf I.M Motorized Brazier with 24-inch Grill 99 QO Portobl*.* ---- ' Z/.OO Nickel-plated glifl revolves, adjusts 2 positions for heat control. 2 wheels transport grill with ease. Steel hood. U HP SAW 39*. Wastwbasket : -I Bright eofot*. ...,.<. I . »OWN *<4 * W cut at Scantiest construction^ Won't pool, chip or dent. Hblsaloisl WM- ful in UWleo, shop, »tW»y fconomical 3 -Arm Water Sprinkler Reg. 9'A-in. CRflFTJMflH Plastic Sprinkler— S«ak«r Hot«-3-TuJbe Rag. — «h«% 25-ft.....2.49 1.99 Mad* of flexible vinyl plaitk. Perforated on one »!de only. kef. J.M, 50FI. 5|>rl»k(«r..3.M " "" ' Sturdy groan ana ma lad Iron baie— non-rip. Brciii arms and liaad. Stain- Ion stool bociringj. Cover 35-ft. clr* clot. «md baloMOtd f»«l of 0 golf c*«b. Hat douM* 4WH)n« •olv*— Mrrat.d on on* >)<*• •od jtralgW on tH. ofhe*, Wad« It rMot tr«ot»e)— rtayt Craftsman 2% HP, 22-inch Trimmer Design Rotary Mower 7O88 • Powerad for big lawns m ^m • Comei with l«af mukhe>r *„ „„ „ $B.OO Down Powered by a 2% HP, 4-cycks «ng'm« with automatic rewind, starter. Strong, one-piece housing with recessed left wheels — mower trims (*p close to trees, walls, fences. A big, powerful mower at a low price! 18-Inch Powor Mowor Cwf» Yovr Or***/ Cult Yowr Work e Very H»ht In e PewerM IH-HI* «n0tW»e Thit Craftsman mower made* gran awtting wock a walk! Automatic governor control maintain* a eomtont »peed. Pre«i(ion-built Brrggt *. Stra^ton «nf hM. 6vt it adjustable. See it at Searsl > MASTER-MIXED SNOWHITE DUSTER-MIXED "'"' u ONE-co AT ^ "Orsi-PAINT v ^^1 ^ HOUSE PAINT now cable at less than 3% to 4 1 /i' a ft. fireproof, non-metallic... moisture resisting Homart Regularly 6.59 Now I; •V,e ?>!»^J. sJte^I.? 1 ^.,. T X4-FMt Me<W, Ntf. 21.90 11.77 XI-FMt Model, M«g. 24.9S 21.11 Reliable extension ladder built of seasoned ladder • lumber. Rungs mortised, nailed for sturdy service. Rust-resistant hardware! Save todayl Our fme*t, one KH>*, fume, m'rldew resistant house point hides even the blackest black. Get up to 5 years wear over pointed surface . . . aH with .just one easily applied coot. White, bright . . . contains titanium dtoxtale, whitest •• pigment km own! Save today! Kill • NOlMP sheathed cable 14 GAUGE, 2 WIRE Leu Than' 3Va« fo«t 15-foot, ftefvfer 1.75 _ I7c W-Feef, Itofviw 2.75 1J3 100-Feet, (Ugvtqi' 4.95 3.44 IM-feef, Reffvlw 10.50 I.M 12 GAUGE; i WIRE L*ss Than 4Yi< Foot tS-T.H«, ItofvlW 1.95 I.M M-ree«, Ref«*w 3.75 J.21 IdO-Feet, itprfw 6.95 4.44 IM-Feet, MegwUr 14.95 .11.15 5TH & BROADWAY

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