Northwest Arkansas Times from Fayetteville, Arkansas on May 1, 1974 · Page 19
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 19

Fayetteville, Arkansas
Issue Date:
Wednesday, May 1, 1974
Page 19
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Page 19 article text (OCR)

20 « Northwest Arkansas TIMES, Wed., May 1, 1974 F A Y t T T E V I L L E . A R K A N S f t S THE WEATHER Elsewhere Bankers Seek Funds Ruling On Interest Law an attorney general's opinion on whctfltjr state funds can he liy THE ASSOCIATED P R K S S Hi la I'rc Otlk Weather Forecast Cloudy skies arc forecast Wednesday Tor the E;is( Eitul the West with mostly l a i r weather expected for (lie cun- milder weather expected. Lo- Irnt areas. Showers are fore- cal showers fire expected tu cast in Hie Southeast, with move mil by Thursday. (AP Wirephoto) Albany Albu'quc ! Amariilo Anchorage Ashevillc Atlanta Birmingham Bismarck Boise Joston Brownsville luffalo Charleston Charlotte Chicago Cleveland Denver Detroit Duluth Port Worth Helena Honolulu Houston Ind'apolis .Jacks'ville Kansas City Vegas Little Rock Los Angeles Louisville M a r q u e t t c Mempriis M i a m i Milwaukee Mpls-St. P. New Orleans New York Okla. City Omaha Phoenix Pittsburgh inland Ore. P'tiamJ Me. Rapid City Reno Richmond St. Louis | Salt Lake ?in Diego Sari E-'ran eattlc Spokane Tampa Washington NEWS WHILE IT IS NEWS IN THE TIMES 09 51 72 « ·66 55 58 -11 85 53 81 58 82 57 63 44 77 44 73 48 84 75 Ii8 43 88 67 86 53 63 49 63 42 G5 40 68 41 55 33 73 63 69 43 87 74 8D 70 65 45 88 55 67 49 84 57 74 60 82 58 80 50 55 31 85 6-1 79 69 62 46 04 38 83 03 79 60 67 SB 75 41 95 61 71 44 63 47 69 48 70 47 79 37 93 61 65 44 69 45 invested stitutions n state financial in- without strictly ad- . clr . . cdy . . cdy ..cdy . . cdy . . cdy ,57 rn . . cdy .15 clr . . cdy . . cdy ..clr .29 clr . . cdy . . clr . . cdj .87 . . cd ..clr . . rn .21 clr .. clr . . c d y .. cdj . . n . . cd .04 cd .. clr .If) cd .. cl" .. cl . . cd; . , n . . cd: . . rn .. cl .. cl .40 eel' .. cd' .68 r'r . . cdy . . cdy . . cdy .01 cdy . . cdy LITTLE ROCK (AP) -- Ther The hanks w a n t to State Hnance Hoard v.-\\] seek w h e t h e r the interest ra certificates of deposit on state 'uncis can be reduced to take nto account the anks must keep in reserve and he direct cost of insurance rom the Federal Deposit Insur ance Corp. RESKKVES REQUIRE!) The banks arc keep throe to eight per cent of their assets in a reserve account that cannot be loaned or otherwise invested. The federal insurance cost about one third of one per cent. A 1973 act made it state policy to offer surplus state funds available for investment first to slate banks and savings loan institutions provided Assault Charge Filed S P R I N G D A L E -- Polio arrested Victor James Peteri. 41, of City View Trailer hering to an interest rate rule. i Current requirements are j,j c | r hat interest rates for state )anks be the same as that available on federal securities. The Arkansas Bankers Asso iation requested that the board seek the opinion. Board 'mem " i c r s voted Tuesday to dp so. The bankers organization rcp- esents banks caught in an fi- ancial crunch because the late Constitution limits the in- erest on loans to 10 per cent while out-of-state interests are .oaring. 72 59 .. cdy 55 48 .. cdy 62 45 70 36 82 66 88 6S . cdy . clr . clr The TIMES Is On Top of The News Seven Days a Week PLAYTIME SPORTS PRINTS Colorful new spring designs, fun for shorts, tops and pants, Machine washable cotton and cotton blends. 44"/15 H Wide V A L U E S TO $1.43 YD. 99 "DAN RIVER" SEERSUCKER PLAIDS Bright spring colors in a fine selection of woven plaid polyester and cotton seersucker. Machine Washable. 44"/45"Wide REG. $2.49 Y D . * SAVE .72 YD. ' GABARDINE SUITINGS Combine tho new look for sportswear with these exciting "Willow Glen" checks. New spring colors on machine wash polyester/rayon blends. 44"/45" Wide R E G . $2.49 YD * SAVE .53 YD POLYESTER ^ DOUBLE KNITS New pastel colors and whites in basketweave, linen look and jacquard stitches. All machine wash. 54"/GO" Wida VALUES TO $3.8S YD. 5^ '??·* 44/45 H 55% polyester 35% cotton DAN RIVER SPORT PLAIDS 44/45" 65% polyester 35% cotton SHEER VOILE PRINTS 44/45" 100% cotton SPORT DUCK PRINTS 44/45" 100% cotion HAWAIIAN PRIXTS 44/45" 100% cotton FANTASY SCREEN PRINTS 44 '45" 50% polyester B0% cotton NATURAL FLOCKED FANCIES ALL GUARANTEED MACHINE'WASHABLE 169 x yd. 198 J-yd. 2.29 yd, 198 ·J-yd. 929 SO-FRO FABRICS always first quality fabrics Northwest Arkansas Plaza Open Daily 10 a.m. to 9 p.m. know tes on n state o take unt of VL* and Durance . Insur- E!) red to cent of rve ac- aned or cost is er cent, ate pole funds first to gs ant ed that hese institutions can guarantee an interest rate on the certificates ot deposit no less than the nterest available on in- vestmrats in federal securities. As long as federal rates do not exceed eight, per cent, the aw presents no problems with the banks. Richard Heath, director of the state Finance and Administration Department, said Tuesday. However, as the federal rales exceed this rate, it becomes unprofitable for the banks to accept the certificate because of the 10 per cent interest limit on loans that can be made. William II. Bowen. an associ- aion member, said the bankers wanted an opinion on whether the policy of invesling state Park, Tuesday on x warrant charging him with assault with a deadly weapon. · The w a r r a n t alleged that Peterson pulled a hand gun 'rom his holster and mada 'threatening motions" with it toward Linden Simmerman who signed the affidavit for Peterson's arrest. Peterson is being held in city jail on $504 bond. funds in Arkansas can includs discounting the interest rates to allow for the portion of invested funds on which the banks Ihem- splves do not earn money. V/VAL-MART CITY WAI-MART CITY* WAL-MART CITY WAI-MART Southgate Shopping Center GIGANTIC WE SELL FOR LESS WAL-MART Discount City Health Beauty Aids DISCOUNT COUPON S A T I S F A C T I O N . G U A R A N T E E D , Prices Good Thru Sar., May 4 SALE FANTASTIC SAVINGS ON FAMOUS BRANDS YOU KNOW WHITE RAIN HAIR SPRAY C LISTERINE ANACIN ··?./ Limit 1 WITH THIS COUPON Expires 5-4-71 JUST WONDERFUL 11 11 HAIR SPRAY WITH THIS COUPON Expires 5-1-71 ROLAIDS BABY POWDER BODY ALL DEODORANT Limit 1 WITH THrS COUPON Expires 5-4-74 Limit 1 WITH THB COUPON Expires 5-4-74 -MART CITY WAL-MART CITY WAL-MART CITY WAL-MART CITt

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