Alton Evening Telegraph from Alton, Illinois on August 28, 1972 · Page 6
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August 28, 1972

Alton Evening Telegraph from Alton, Illinois · Page 6

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Alton, Illinois
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Monday, August 28, 1972
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Page 6
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A-6 Alton Evening Telegraph Monday, August 28, 1072 Personal finance Home prices go up, up, up All you HUT, innocent people who linvo Wn saving your money for Ihc pmvli.iso of a m;v]:>Uv-prK-od houso are .1;! vised | O , :o m diramin<:. if you should \vako "P you'd find (ho reality is more liko a nigiitm.irr. In the homo-building industry the low cos! hotiso virtually h.is disap]>eaiTd Iron) the market. Tt'.s next to impossible to find anything in tin- ne\v-liome market to.lny for loss tlnn $15.0(70. The median sales price of nriv homes last year was $25.000. UK- |i],jied states Savings and Loan League reports in its !<)72 Kart Hook. Last year you could find only ,-iboul three houses in a hundred selling for less than Sl.'v0(10. Seven years ago a fourth of nil the now homes built weir priced under thai figure The word that conies to mind is "inflation." Look whnl's happened to the median price — tht figure right in the mkhllo. with half the houses selling for more and half for less. Today, S^.nflO. Tn lPifi.1. the median priee was filS.OIW. That's an increase of roughly •!() per cent. That may sound like the result of rampant inflation. Actually it's the result of ony aboiil a •! per cent a year inflation — just a little more than we linvc currently, when we're told 111 at the managers of our economy are getting things eoiiled off nicely. Wh.it turns n "moderate" inflationary rate into runaway ill sergeant, 6 others die in honihiiiffs BELFAST (AP) - A British army sergeant and at least six other persons died in weekend shootings and bombings in Northern Ireland, and the Unman Catholic guerrillas announced they would step up the violence. The Irish Republican Army's Provisional wing sai.l Sunday night it would intensify its campaign of terrorism because it was getting more support, thm ever from the Catholic community. Police and British officials scoffed at the statement and contended (hat the Catholic minority in the province was; providing increasing help to Brtish troops. The weekend deaths brought the confirmed toll in three years of communal violence to at least S3S, in- cliuMni; 325 persons killed this yc:n\ An IKA gunman shot dowi the ,-.-e••">-• ,ini at a post al the edsie of the Cretan housing area in Londonderry Sunday b l nifiht following a riot by Catholics in the area, Hit- army said. At the Downpatrick race track 20 miles southwest i,f Belfast, a {-iierrilla was blown up as h c planted a bomb jn the grandstand Saturday night. Scattered other hum.-yi remains were found in i.ho w r c c k ago, including !wo heads, and it was thought that t li e r e had been three terrorists. Three civilians were slain by the "Hutclicrs of Belfast," the Catholic and Protestant murder squads who havo slaughtered about 50 men and women in a vendetta the pas', two months. Two were Catholics whoso bodies were found near Belfast's Old Park district Salur- day, where at least half of the death squad victims have turned up. The others to die were two part time militiamen of tho Protestant Ulster Defense Regiment, killed when their car was bombed. inflation fs that II compounds itself every year. A rate of around !'<, per cent a year is sufficient to raise the price of houses .10 per cent in eight years — whieh then becomes an average of 5 per cent a year. Inflation — plus a couple of other factors — also is pushing the upper half of home prices — those over $2:).000 — into a more sharply upward-lilted scale. Last year, one home in five sol:! for $35,000 or more. Seven years earlier, a house carrying (hat price tag WHS a luxury home, affordable by only a few. Six per cent of the houses sold in IflfM, says UK; Fact Hook, were in that price range. Well, you say. inflation, yes — but personal income has increased, too. The fact remains that the cost of traditional housing evidently has priced large numbers of American families out of that market. For nearly a third of all those buying .single-family units in 1971, the Fact l',ook reports, couldn't afford what our parents called houses. Thirty per cent of them bought mobile homes. We are told that if those in authority can get inflation down to around 3 1 /, per cent a year, they are satisfied that everything will be all right again. Better than fi per cent It certainly is — but don't let anyone sell you the idea that 3 } / 2 per cent is not inflation. At that rate, last year's median-priced $25,000 house would be selling, seven years from now, for $31,920. Seeks funds Morris Decs, a direct mail business export., is directing the McGovcrn campaign's massive et'- forf, to solicit funds. He hopes Io vvrilo 10 million Americans before election day. (AP Wireplioto) Dickering with Reds OAKLAND, Calif. (AP) Kaiser Aluminum confirmed here that it has entered into a preliminary contract with the Soviet Union "to purchase the rights to their process for casting aluminum in a magnetic field." Kaiser spokesman Bob Sandberg said Thursday the preliminary contract, which would lead to a licensing agreement, is "subject to various contingencies" including completion of further tests. 50,000 Drivers Fall Last year alone, over 50,000 Illinois licensed drivers failed the state written examination. Ex- rcnson Is, ports rules say and regulations change, and even some safe drivers don't Jtcep up with the new laws". If your license expires this year, you may be among the hundreds of thousands that will be re-examined in 1972. So if you're nervous about taking the state written exam, hero's good news. You can purchase your own "self-scoring" test papers, complete with questions, answers nnd road signs you should know for that important examination day. This method has helped thousands pass. Mail $6 plus 75 cents handling. (Check or money order) to AA-AA School of Sate Driving, 6304 N. Milwaukee Ave., Chicago, 111. C064G, Dcpt. 7000A. (Copyright 1D72 AA-AA School of Safe Driving, Inc. All Rights Reserved) ¥ ?! ^""^iil^ brsdi B.v OSWALD & JAMES JACOBY iJTH (D) 28 A K 10 8 U 3 2 V2 « K 9 4 3 \VI;ST EAST A J A -I VJflfifi VQ1087 * Q,l in 76 * A 8.') 2 * K 1U 2 * J 1) C 4 SOI'TII A A O U 7 5 V A K •} 3 * Void * A Q 5 3 Buth vulnerable AVVst North Kast Smith Pass 1'ass 1 A }V\s 4 A ]'';, : ,s 4N.T. i'a.-s ;;* }\,,. s 7 A P.'.-:, 1V.S J'a.,.. OjK'iiini,' li-ad- • Q Tho bidding has been: West North East South 1 « Dhlc Pass 1A Pass 2 A Pass V You, Southj hold: A « V-l :i V 2 4AK 943*762 What do you do now? A—Just bill four spades. Your partner has doubled and raised your one spade Io two. You should need no lurlhcr urging to try for KUIUC. TODAY'S QUESTION Instead o£ bidding two spades, your partner lias jumped to three spudc-s. What do you do now';' Answer tomorrow TOP VALUE. GOME AND GET IT BARGAINS! Westinghouse AIR CONDITIONERS $ 5,000 BTU To 27,000 BTU PRICES START AT .... KRAMER ELECTRIC CO. 29 E. Ferguson Ave.—Wood River—254-4364 95 Oswald: "All bidding rules are m;<dc to be broken at Hie richt t;m.-." Jim: "ilmv about the rule th;:i yen shoulrl md use lilack- v. >;•.;! \\ln 11 void o! a suit'.'" i):;\va!(i: "Here i< a simple (•••.;;!n;:li- nf a t:m-- when a !'.:• • el' d:n - u^" l',lael;\\'i!od. N'i' in ; pile ut huv.m: a void. !)'.'.! ia'h<.T bei ;aiM' (if having a \<iia." 'ir.i "V.'iien S nith u<0vl ]'•'•'•• -•.'-.''•'.•' ':! a.'!-.! 1),- n jmipe.i ' '••.!:. a:uT N'orlli di-llie V, • U 1 d J'!. \'.' U!K!i.;:!j|, Broadercoverage and lower cost when when you need it... you've earned It. Etna's All-Driver Plan. It's ihe most popular auto insurance we've ever handled—because it l:as bomeihing to ullVr just about every driver. For maniple, even if your present insurance company is already givini- you a lower rate for your safe driving record, the .(Etna v •All-Driver 1'lan .sliuuhl be able to beat it. li.- - i!::.]) uilier in.-u ramv runipanii i would ask. AIM if > tiu'\v \\ ally hail kid lui-k- ma.vbe t'md it hard to t 1 ' ^ ••'•••:, ;i;.- uraiu'eat :il!,yousi»)uKlfclill<|Ualify fur All- Jh.>11. (;, n;.j. iji-,,uiU-uvi-raf{oyouui-t-d.PlusUie best (Ml i!s.<>rt.M!:ieni. You'll discover yew are one of the driven t)::u will (!ol;eii«T with All-Driver. ASHBY COPE 2828 BROWN ST. ALTON—PHONE 462-6104 ASHBY HANFELDER 104 WEST MAIN ST. EAST ALTON—PHONE 259-8235 AFTER 6 PM—259-3176 UftiCASUAHY National school lunch program still pending By MICIIAFL A. CARSON Congressional Quarterly WASHINGTON - It's school time again, but Congress has yet to cotnple'o action on the national school lunch program shared in by more than 25 million children. Legislation pending, which is a high priority team when Congress returns after Labor Day, would increase federal support of the lunch program. The new level would ri:;c> to eight cents from six con's for every school lunch served, and new eligibility r c q u i r e m e n t s would be established by the bill passed by the House June 2!) and l>y the Senate Aug. l(i. Congress recessed for the Republican convention before House and Senate conferees could reconcile their versions of the legislation. Congress did not provide enough money for the changes in the lunch program and the expansion of other child nutrition programs when it enacted the fiscal 137:? agricultural appropriations bill because legislative aciion on the school lunch bill was incomplete. A supplemental appropriation will have to be enacted by Congress this fall to provide full funding for the programs fiscal 1973, which began July I. Representatives o f the executive and legislative branches disagreed about the effect the legislative delay would have on school luncil administrators making plans for the 1972-73 school year. Assistant Secretary of Agriculture Richard E. Lyng told Congressional Quarterly that the "school program this year is virtually unaffected" by the timing of congressional action. "The school lunch program can still operate as it did last year under our present budget," he said. Senator Hubert H. Humphrey (D Minn.) a member of the Agriculture and Forestry Committee, told Congressional Quarterly that the delay affected the planning of school budgets. "liudgcts are tight and school administrators can't afford to go out and spend money they might, not get," he said. Both House and Senate hills provide that all children below the federal povertv guidelines are to receive a free lunch and permit states to increase this level by up to 25 per cent and still be reimbursed by the federal government. Children from families with incomes up to iiO per cent above the guidelines are eligible for reduced-price lunches. The current income guideline for a family of four is $4,110. The Nixon administration recommended that states be allowed to increase the levels to IS per cent for free lunches and 30 per cent-for reduced- price lunches. The Senate Subcommittee' on Agricultural Research and General Fury Gran Coupe 2-Door Hardtop PAA AUTHORIZEDDEAURS 4 CHRYSLER VXv<? MOIUBS CORPORATION Gene's Chrysler-Plymouth, Inc. l.i LI. I'o fjis-jan, Wood River Authorized <ggg> Dealer 500 Belle St. Alton. Phone 465-3447 SIZES Rocni Air Conditioners ALL BRAND NEW IN CRATE 110 VOLT Just Plug-'tm In 5000 BTU. 6000, 8300. 11,000 BTU's 220 VOLT 12.500 - 19.000 22,500 BTU's LIMITED STOCK ON SOME SIZES CARRY TM HOME SAVE Even More. Legislation approved the administration percentages, but the Agriculture and P'orestry Committee reversed its subcommittee and approved the higher eligibility standards. Humphrey amended the bill on the Senate floor to permit schools with eligibility standards even higher than the new federal limits ;o continue operating under their standards until July 1, 1873. The Senate committee used figures supplied by (he Department of Agriculture io estimate the cost of the new eligibility standards for free and reduced-price lunches at $80 - million to $140 - million for the current fiscal year. The cost of the basic federal assistance increase to eight cents from six cents for every meal served was estimated at. ?8!>-milJion for the same period. Lyng said that he was "concerned about the increase made in the House and Senate J&ASpringman bill in general." He said ho was "disturbed about the increase from six to eight cents because it adds to the cost of the program and does not, benefit poor children." "No matter what we propose, they (Congress) Jus;. keep adding to it," Lyng said. He said, however, the department could "live with the bill." "But. the President may veto it .... I don't think he would, but. In- Big & Tail Men's' Clothes Department Sizes Up to 60 might." Humphrey said the new school lunch bill is "an improvement." He has introduced a bill that would establish a universal school lunch program and provide nutrition education for schoolchildren. GET YOUR FREE "How to" Booklets 11 In all iam-pacted with Inlormallon about home decoration! Now available at your nearby COOK PAINT Slorel 8 WEST BROADWAY For the Finest in Fresh Fruits § Vegetables IT'S YOUR FRIENDLY THAT LEADS THE PARADE! SEE OVR WEII/VESD/IY AD! Sears PltE-SEASON In Downtown Alton Save $30.98. Economical "400" Series 75,000 B.T.TJ. Space-Saver Furnace Regular $169.88 139 Get sale savings now on Sears "400" series furnaces, quality built for service and economy. Sectional heat exchanger, self-cleaning burner and quiet-running blower mean operating efficiency. Regular $209.98 100,000 B.T.U. Gas Space Saver FURNACE hOO BE) Call 465-5511 for FREE Home Heating Estimate No Monthly Payment until October on Sears Deferred Easy Payment Plan (There Will Be A Finance Charge for the Deferral Period) SHOP AT SEARS AND SAVE Satisfaction Guaranteed or Your Money Back I EAHS, HOtBUCK AND CO. 309 Plosa Alton, Illinois Phone 465-5511 Open Tues., Wed., Thurs. and Sat. 8:00 a.m. to 5:30 p.m. Open 2 Nights A Week—Monday and Friday 9:00 a.m. to 0:00 p.m. THRIFTY DRXJG STORKS EAGLE STAMP REDEMPTION CENT BRING YOUR FILLED EAGLE STAMP BOOKS TO THRIFTY DRUG TO BE REDEEMED FOR IN CASH OR IN MERCHANDISE OF YOUR CHOICE 5 SUPER STORES • 323 BELLE ST. • ALTON PLAZA • 508 W. DELMAR • WILSHIRE VILLAGE • WASHINGTON SQ. OPEN SEVEN DAYS A WEEK, EVENINGS TOO!

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