SUNDAY, NOVEMBER 17, 1957 THE PHAROS-TRIBUNE and LOGANSPORT PRESS, LOGANSPORT, INDIANA PUBLIC LIBRARY PAGE SEVEN Loan Firms Contribute To Shakespeare's Words NEW YORK (UP>—"Neither a money to pay off the other debts. borrower nor lender be," wrote William Shakespeare. •Many of our lending institutions tack on to this the phrase, "except in case of emergency." The fact is that 33 -billion dollars worth of instalment credit outstanding is helping our economy go 'round this year. There's one rule to remember when you must borrow money: "Borrow from the best." And if you can't get a bank loan, go to a licensed small loan office. These small loan offices are restricted as to what they may charge. No investigation fee, brokerage fee or service charges. When permitted, Our 10,745 small loan offices | small loan companies also try to this year are lending 5Vi billion provide you with an insurance dollars of this amount, in about policy. 16 million loans, and they expect Learn The Rules a 12 per cent increase in volume . The law requires them to make next year. Ten years ago, the the terms of the loan clear to you. small loan industry volume was | And you must be given a funda- $1.400.000,000. in 9Vi million loans, j mental record of your payments. The growth of our small loan! the dates due, the amounts and industry, made possible by so-j the nature of your security, called uniform small loan laws j —Don't sign papers before the 'which are actually far from uniform) has taken most of the bite out of the loan shark. Loan Firms Regulated Legal, strictly regulated small figures are filled in. —Stay away from the loan broker who wants a fee for arranging the loan. —Watch out for the salary buy- loan or consumer finance compa-jer. He doesn't lend you money. LEADER TRAINING COURSE — Pictured here are a group of scout leaders taking part in .a discussion at the Scout Leader Training Class held in the city building. Left to right, Wilbur Lunar, Monon, Western district organization and extension chairman, Don Files, scout master troop 2^. Winamac Kiwanis club, Ralph Mullln, scout master of troop 10, Fulton EUB church, John Oilman III, scout master troop 27, St. Vincent home and school association, Oscar Beasey, chairman Three Rivers. Council Leadership training declining monthly balances. Recently some sharp operators tried to make a fast buck through "debt adjustment Agencies." They would see your creditors and arrange, or try to arrange, satisfactory payment schedules for you. For this service, you were charged a fee. In effect, you ended up with one more debt, since the debt adjuster didn't lend you price. | —If a note is pre - dated from the time you get the money, you're mixed up in some hanky- panky. —If you're asked to sign more than one note for one loan, you're getting hooked. —The lender must give you copies of the papers you sign and receipts for the money you pay. In the final analysis, your best bet is to look for the state license in the office. If the lender is legitimate, he'll have one. • nies, now are lending money at a j He buys your salary at a bargain committee, and John Drompp, scout master troop 5, Ninth Street Christian church and leader of the course. (Press Photo Engraving) maximum annual interest rate of 36 per cent. But this figure is lower in practice because the 3 per cent monthly interest is applied to Contract Bridge DOUBLED BID TROUBLES SOUTH A DELBERT WAHt of Rochester, N. Y., sent me today's hand. South's opening club bid is normal ami West chose to double. Ev- Claims Some Unreality Exists in Healthy Mind NEW YORK (UP) — Those ex-|man's) little world, which is the New High Budget Show Makes TV Bow Tonight By 'WILLIAM EWALD United Press Staff Correspondent NEW YORK (UP) — "Seven is nothing I can do about it. I do feel sorry though that I won't get to 'see 'Omnibus' myself anyT more." Lively Arts," a show with a high forehead and a high budget, j bows in on CBS-TV this Sunday. R 0 y Q | Center Lions But don't run away. For as La Rochefoucauld once said — "Culture, schmultiK-e. Who needs it? This is going to be entertainment." "Egghead? I don't even know the meaning of the word," bristles John Houseman with a fierce bristle. Houseman is executive producer of "Seven Lively Arts" and. as such, is charged with the task of lining up 14 one - hour shows. Thus far, the show is sponsorless, but Houseman has $100,000 per show to work with. Just Have Fun "I'm afraid it may sound affected and silly," continues House- To Honor Veteran Members Tuesday The Royal Center Lions. club will honor 10 and 15-year members at a Charter night observance next Tuesday evening at 6:15 o'clock at Pearl's cafe in Eoyal Center. Those to receive 15-year awards are Raymond Beckley, Dr. E. E. Blickenstaff, Charles Goodrich, Paul Harrison, • Milfred House, NORTH A 8 6 2 V J9762 * A1087 18 WEST AAKQJ3 EAST A1054 432 . . • Q J4 #642 +QJ10SB SOUTH (D) 497 If K 10 5 * K965 + AK53 Both vulnerable. South West North Easl 1 * Double Pass Pass Pass Opening lead— 4 K world of scholarship. as, "Love is blind,"). and urge a more realistic point of view." 'Realism' Doesn't Understand But this "realism" fails to understand that love is loaded with unrealities. Nor are these "elements necessarily harmful; in many instances'they are distinctly advantages to both person."." '"As subject-matter in various) Furthermore the mentally perts who preach that the very essence of mental health is knowing reality when you see it and 1 fields of knowledge has broken healthy "tend to be somewhat un- rejecting all things which are not j down into more specialties, sc hol-|F ealisutic , about / o ° d frien <Js, think„„„„! >,„„„ K«o^ *h,ii™ a ^ h« „„: ... ...j ». t —.„ .,;— ing the best of them and cnticiz- equal, have been challenged by an; ars tend to concentrate upon expert of another stripe. knowing "more and more about Dr. Claude C. Bowman, of Tern- j ess a nd less," he said. "Under pie University, admitted he was!these circumstances it is easy, no mental health expert although an( j perhaps necessary to over- he is a sociologist anri anthropolo- value the particular segment of Various psychiatric ideas of mental health tj the contrary, a certain amount of unreality just has to exist in mental processes if I minds are going to b= healthy and have high morale, said Bowman. Unreality Is Reality Indeed, unreality is the reality of every day life as most of us know it, he continued, and called the attention of scientific reality eryone passed and as the p!ay developed South was able to make •only five tricks: the ace-king of diamonds and the ace-4ring and a small trump. While a 500-ipoint penalty is not a real tragedy it did represent a rather large loss since East and Don Huffman, Volna Ritz. Elmer; West could not make^a game and Schmaltz, and C. S. Sparks. Those eligible for 10-year -Chevrons are Eugene Blickenstaff, man, "but all we hope to do on! Harry Bridge, Don Clouse, Ken- this show is have fun. We're not|neth Cookerly, Frank Hand, Rog" ' er Kraning, Frank Lind, Kenneth Lucas, and William Miller. District Governor Keith Showalter of Logansport will attend. Ernie Sherer of Winamac will give an illustrated talk on the Scout jamboree at Valley Forge. A summary of the accomplishments of the club for the past 15 years will be given by one of esoteric, highbrow or flouncy and we want to put on shows about things that interest people. "Now, you take our first show, The Changing Ways of Love.' I believe the show will contain •more suggestions of sex than have ever been seen on the air be- fqre. And I'm sure you'll agree that sex is not of limited interest." Houseman is a large man with a large background. On Broadway, he has capered with such diverse companions as Shakespeare, Ibsen and Orson Welles. In Hollywood, he produced 14 inovies. including "Julius Caesar" and "Lust For Life." He has served as an English and drama prof at Vassar and UCLA. For the past two summers, Houseman has labored as artistic director of the American Shakespeare Festival and Academy at Stratford, Conn. "The taste of the American people is higher than is generally assumed," says Houseman. "You can ta'ke our Shakespeare operation at Stratford as a good 'example—we had marvelously successful runs. Emphasis On 'Lively' "There's no reason really why we shouldn't attract a good audience here. too. The emphasis of this TV program is going to be on the 'lively' part of the title— we've got one show planned around some Hemingway short stories, one show will be devoted to jazz, another to the 'Nutcracker' ballet, others to revivalism, Hollywood and Xew York." . Also on Houseman's calendar:a show based on two Ray Bradbury stories set in 2,000 a.d., an Easter Miracle play, a piece based on John Brown, an Agnes DeMille dance show, a movie about Martha Graham, a show about jazz pianist Jelly Roll Morton and another about American composer Norman Dello Joio. The only unfortunate thing about Houseman's TV show is that it will overlap NBC-TV's "Omnibus" in its Sunday time slot. "I don't approve of a cultural contest between 'Omnibus' and us.' mourns Houseman, "but there FOQDBIUS TAKE ADVANTAGE Of THE SAVINGS OFFERED FROZEN FOOD LOCKER ^ Wt, KAVt A lOCKIX K» TOU «M5 Hanna St. there was considerable discussion ! about how North and South could .have escaped the ax. South contended that North should have seen the danger and bid one heart right over the double while the others thought that South should have run out to one diamond when East left the double in. To. start with, North's pass was the correct bid. He did have some fear that the one club doufcle would slay in but it is unusual for this to happen and a run-out to one heart or one diamond might have been the start of real trou ble. So East's pass left South in a tough spot. He chose to stay in his trouble at one club but really should have tried to get out by — Indus i l!3 >d dul g one diamond. This might fire but tl IKa 1J0VC 11CIU ^<,UiO 4U1.C1 Ylc wo ' ". i • ., . ,. ,, ,• , with Purdue University students j P? lnt , ls . th ^ s ? u » knew 3 * WM this fall. The emphasis was on j already in the frying pan. A leap • i™.,ri,t k ave l an ded him in a hotter ;he members. Recruiters Jalk To Students In Science LAFAYETTE, Ind. tria recruiters from ioi tum^ou- . , have held 2,818 interviews I m ? tpa . n ?" d , engineering and science. .f , , , . ..Ispot but it also could get him out Purdue s placement service said of trouble and certa i n] y was worth about 1,000 firms have booked dates for scouting throughout the year. F. Lynn Cason, placement director, said some firms canceled interview dates because of defense cutbacks, but their dates were snapped up by other companies, originally crowded out. Starting salaries remain about the same as last year — $450 to $5CO a month for technical fields, $400 to $450 in nontechnical. trying. NEW CHURCH BUILDING Services are now being held by the local Jehovah's Witnesses in their 1 new church at 325 Cliff Drive. The former meeting place was at 1210 Spear street. Formal dedication of the new building has not been .held, since some work on the structure has not been completed. Never is one telephone call MORE IMPORTANT The right decision isn't difficult to moke if you remember this number. —No. 5154. Kroeger Funeral Home, where fine funeral ser- ice and fair dealing have been a tradition with us for over 82 years. "Third Generation of Service" KROEGER -East Market at Seventh Ph. SI 34- | knowledge where one's own proficiency lies. "Such over-evaluation seems integral to professional adjustment in the academic world as it exists. ing those who criticize them. Bowman addressed himself directly to the psychiatric science, which contains most of the strict adherents to "the reality principle," through the technical journal of the American Psychiatric Association. He was not in agreement, he said most flatly, "with those who believe that good mental health must be based upon realistic conceptions of environment and self." In short, academic people "like other practical men of affairs, accept the reality principle only so. Make dishwashing easier by far as it is practical to do so." But take love, he said. It is "fashionable" for scientific experts to proponents to their own (and Bow-'"decry romantic illusions (such rinsing all dishes thoroughly. Juices, milk and eggs, especially are hard to remove if left to set in glasses, bowls or plates. American People in Debt To Tune of $43 Billion NEW YORK (UP) — Americans are living high on the bog. And high on the cuff, too. Among us, we owe 43 billion dollars, nearly 3 billion more than last year. But even as we sign lOTTs, ire salt away cash. Our savings this year add up to well over 800 billion dollars. Installment credit outstanding accounts for about 33 billion dollars of the total personal debt. Of this, commercial banks have 12 billion 300 million dollars; sales finance companies (automobiles, appliances) have loaned 9 billion 300 million dollars; small loan companies, or consumer finance companies, have around 3.2 billion dollars this year, according to the National Consumer Finance Association. One Family In Six The 10,745 small loan offices around the nation, operated by 1,- 5oO firms, claim one out. of every six families for a customer and they look for a 12 to 14 per cent growth in volume next year. Is there danger in this rising installment credit spiral? Many economists believe it is doing no harm since nobody will continue to extend new credits if repayments do not come in on schedule. Why do we borrow? About one-third of the 16 million loans made by small loan companies this year are for debt consolidation, where the customer borrows to pay off a flock of bills and is left with one debt. Medical and dental expenses account for 11 per cent .of the small loans; 8 per cent goes for car purchases and upkeep. Clothing accounts for 6 per cent of the loans, as does travel and vacations. Many people borrow to buy things even, though they have the cash. They feel they'll never save the money again once they touch their savings. So they take out a loan. Installment Credit Risei Installment credit also is rising because we're urged to use credit for just about everything. Under- takers now have plans for prepaid funerals. They call it, "p«y now, go later." The small loan companies ar« growing right along with the use of credit. They now employ about 55,000 people and have an annual payroll of about 250 million dollars. Our' five largest consumer, finance companies, Household, Beneficial, Seaboard, American Investment .Co. and Family Finance, have a total capital fund of $402,706,510. Household Finance, the largest, .had 2,261,000 loans last year totaling 901 million dollars. Despite some ads that say "low rates," small loan companies usually charge low rates when compared to loan sharks. Utalike th« loan sharks, small loan companies are bound by law to give you a fair deal. Smith Estate Distributed ' Four Lutheran organizations win receive $15,556.96 apiece as residuary beneficiaries under the will of the Jate Mrs. Margaret Boerger Smith, widow of Hugh Smith, ft was revealed Friday when Attorney Leland Smith filed the final report for approval of Judge Clifford Wild in the Cass circuit court. The Lutheran Child Welfare Home, Indianapolis; the Lutheran Deaconess Association, Fort Wayne; the Lutheran Old People's Home, Kendallville; and the Bethesda Lutheran Home, Watertown, Wis., will each receive one-fourth of the $62,227.83 remaining in the estate after the payment of the specific bequests under the will. The specific bequests included real estate valued at $25,000 left te the local Neal Home, $5,000 ea«h to the St. James Lutheran and Wiieatland avenue Methodist churches and Valparaiso univer^i- ty, and- $3,000 to the St. Johns Lu theran church at Rochester. T6< entire estate, opened Jan. 31, 1961, was valued at $187,000. LOGAWSPOIcT, 1MD., PHONE 4193 WAR DS makes giant '1,680,000 purchase large Eastern Mil moves operations to the West Coast Word* purchased the entire stock of this mill ot a tremendous saving ... a once-in-a-lifetim* Inunload of whM*. ^3j;i:£* OV( here are the facts This large firm w closing Eastern MM, not going out of business... the merchandise B nor seconds or discontinued patterns ... it u oil the newest 1957 and 1958 patterns and colors. small down payment, easy terms Pay only 10% down on purchases under $50, $5 down up to $200, $10 down over $200. "do-it- yourself" installation Easily installed — but Wards installation advice is available if needed. 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