The Courier News from Blytheville, Arkansas on September 22, 1953 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

Blytheville, Arkansas
Issue Date:
Tuesday, September 22, 1953
Page 3
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TUESDAY, SEPT. 22, 1953 BLYTHEVILLE (ARK.) COURIER NEWS PAGE THREE Bankers, Builders at Odds On Mortgage Money Supply By SAM DAWSON NEW YORK (AP) — Bankers and home builders are at odds today over whethet there's enough money around for mortgages. And government officials are expressing concern over the mild slump in home buikl ing and hinting of pump priming if private mortgage credit can't carry the load. Record Criminal Activity Predicted WASHINGTON I/PI—FBI Director J. Edgar Hoover says that, statistically, the trend is toward a record amount of criminal activity in the United States this year. Statistics on the first half of 1953, compiled from police reports throughout the country and released Saturday in the FBI's semi-annual "uniform crime reports," showed a total of 1,047,290 major crimes committed. The total for all of 1952 was 2,036,000. ' A slowdown in production is reported by some firms supplying builders. The start of National Home Week finds spokesmen for the Read Courier News Classified Ads builders charging that mortgage lenders are "returning to horse- nnd-buggy financing, with high down payments, high monthly payments, higher interest rates and second mortgages." The president of the National Association of Home Builders, Eman- ucl M. Siegel, presumably speaking for its 26,000 members, asks: "Are we to repeat the pattern of the twenties and the bitter years ithat followed?" I The president of the American 1 Bankers Association, W. Harold j Brenton, however, says there's plenty of mortgage money. At the opening of the assocJxties's annual meeting in Washington, the Des Moines, Iowa, bank president says he sees no need for government agencies to liberalize mortgage terms. Mortgages will cost home builders more than they did two or three years ago, admits Charles L. Clements, president of the United States Savings and Loan League, the typical non-veteran borrower will pay around 5 to 5'/ 2 per cent. And down payments are higher. Can Meet Healthy Demand But Clements says mortgage money is in ample supply to meet a healthy demand — within the scope of the administration's "sound money" policy. Higher interest rates have followed this move to harden the dollar and halt inflation. Home building has slackened off some this summer. Housing starts reached a peak in April of 111,000 units. In August pnvately-owuec housing starts dropped to 93,000 although for the first eight months of the year their total was still running ahead of last year. What seems to worry the administration, however, is that applica. tions for mortgage insurance by the Federal Housing Administru tion have fallen off fairly sharply. This might mean that by next year home building would drop to a level is telling the bankers' meeting to- Housing Administrator Cole told the bankers that the government may have to "resort to some means of. assistance" again. Some months ago interest rates were raised on FHA-insured and Veterans Administration-guarantee mortgage loans. The slowdown in home building that followed, however, is more than was expected, Cole admits. He wants the bankers and the home builders to get together on the mortgage money question so that there need by no "return to direct government action in the housing field." J COMPUTE PEST CONTROL Rid your prcmiiei of troublesome Rah—Mice- Roaches— Anti, Fleas, and Mothf* CAIt < World's largest Pest Control Co. 1939 June June June August June 1950 1951 1952 1952 1953 FOOD'S UP—Using 1939 as the base year, above Newschart shows how consumer price index on retail food prices have risen since 1950 After reaching an all-time high of JI6.6 it: August. 1952. the inde.x dipped to 113.7 for June. 1953. U. S. . C. FARR & SONS DISTRIBUTORS Fuel Oil Petroleum Products Lee Tires Fuel Oil Petroleum Products Lee Tires "Serving This Area for Over 20 Years" 400 South Railroad Blytheville Phone 4567 70,000 Red China Troops Reported Taken from North Korea Since Truce SEOUL «')'— Communist China was reported yesterday to have withdrawn 70,000 troops from Its million man force in North Korea since the July 27 armistice and to be planning to withdraw that many more. Sources with an authoritative knowledge of activity in Communist North Korea said the withdrawn Chinese are being replaced by 70,000 more Korean prisoners returned from Allied stockades during the exchange. The sources said the Chinese withdrawal was part of a full-scale shifting of Red forces since the truce was sicned. North Korean troops stationed deep in rear areas during the last part of the war have been moved to front-line positions, they said. Allied informants said that from the Communist point of view such a move would not violate the clause in the armistice agreement which prohibits former prisoners from being employed in acts- of war. Memory Fxpert Has Lapse of Memory LAWTON. Okla. Wl — Chuck Parker, a lecturer who spoke here, sheepishly explained to the clerk at the Constitution-Press he wanted to place an ad for a brief case he had forgotten. Parker is a memory expert, and lectures on how to remember. Overdue Bill- Paid in Full PITTSBURGH (/P) — Dr. Walter 5. Donaldson was attending a session of the Pennsylvania Medical Society's meeting last night when a man walked up, grabbed his hand and said: "I want to thank you." The bewildered doctor, editor of the Pennsylvania Medical Journal, told 57-year-old John Pappas of Pittsburgh he must have the wrong man. "Oh, no," said Pappas, "you cured me of rheumatism back in 1925. You gave me back my health and refused to take any money." Mr. Donaldson told Pappas, a waiter at the hotel where the medical meetings are being held: "This is better than money." Truman Has Busy Week Scheduled KANSAS CITY (IP}— A busy week is ahead for former President Harry S. Truman. : He will go to St. -Louis Thursday , to participate In a memorial pro-1 gram for William Green, farmer I head of the American Federation I of Labor. Friday afternoon he will go to St. Joseph to attend the annual reunion of the 35th Infantry Division, in which the ex-President sei'vcd in World War I. Sunday he plans to fly to New! York, where the following day he will be presented the Four Freedoms Award from the Four Free-! doms Foundation. Then on Tuesday j he will return to St. Louis for the i opening of the meeting of the I Grand Lodge of A. F. and A. M.' of Missouri, of which h» onc« .served as grand master. Read Courier New* Classified Ada. Stay Beautiful avoiding I Monthly Look No (ell-tale signs on her face becJUie ttamps, iiiteis, boUiei her no mot* Why look older, worn out, jittery for 2 or 3 days each month? Why let everybody knrtw ymir "time" is here? Thousands of smart Btrls and women take a little Cardui each 'lay to Jiflp build new enersy and siUa.nw.Tlwy look, at't, s!ei_ l p Letter, feel ss :uid less misery each month. Some even i through periods without pain after a hilt. Stay lovely all month —ask your •alcr for Cardui. (Sny: "card-you-eye" ). .U -1 »1 I I I MONTHLY CRAMPS Wllf i A i ll CHANGE OF LIFE COAL HEATERS & WE STILL BUY COAL HEATERS BY THE YOU ABOUT 25%! COMPARE THESE PRICES? flo.113 SPECIAL OAK HEATER-- --14 95 N0.115SPECIMOMHEATER---.J8 75 lo.117 SPECIAL OAK HEATER----23 95 No. 7 LAUNDRY COAL HEATER 8 95 No. 8 LARGE LAUNDRY COAL HEATER 14 50 . 84 4-EYE LAUNDRY HEATER- --17 95 EE WEDNESDAY ONLY SALE STARTS AT 8 A.M. — 20 LB. LIMIT Government Graded . .. Mayrose Choice Beef WARM MORNING HEATER NO.414 CHUCK ROAST ..... ib. RIB STEAK ....... ib. 35c SHORT RIBS ...... ib.2Sc GROUND BEEF - pure - - ib. 29c Morn, last Heater THESE GROCERY SPECIALS, TOO BISCUITS - - - - ........ can 10? PARKAY MARGARINE ....... Ib. 25? MIRACLE WHIP ......... pt. 25? LARGE LETTUCE ---- ---- head 10? LARGE CELERY - • ...... bunch CASH GROCERY* (Closeout — Good for Large Home or Store) 14 AH (mm (ail Our Carload Buying Saves You Honef! See Us for Coal Healers, Ranges, Pipes and Soppli Good Stock of COAL RANGES HUBBARD & SON. Furniture Phone 4409 Biytheville

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