Banner Graphic, Volume 21, Number 58, Greencastle, Putnam County, 9 November 1990 — Page 4

THE BANNERGHAPHIC November 9,1990

Great market for homebuyers

By JOHN CUNNIFF AP Business Analyst NEW YORK (AP) The time has come for some very patient families who saved their money, bided their time and never lost faith that someday they might be able to afford a house. Through most of a decade their vision could be only perceived dimly. Prices soared and interest rates stayed high, and the market was full of eager buyers to whom price seemed no object. It was a seller’s market. THOSE WERE tough times for people with limited incomes, and that included millions of families. In many months, popular indexes of affordability showed the typical family couldn’t even qualify for the typical single-family house. How things have changed. Home prices are dropping in many areas. In some neighborhoods, the “for sale” sign on the front lawn has become almost as common as the mail box on a post. Interest rates seem to be on a steady course lower. A survey of 125 primary mortgage-market len-

Mary Jane Mace gets CNB marketing post

Central National Bank has welcomed Mary Jane Mace to its staff as marketing director. MRS. MACE HAS been a lifelong resident of Putnam County, and is a graduate of North Putnam High School. She is the daughter of Mr. and Mrs. Harold E. (Gene) and Dorothy Unger, Route 1 Greencastle. In 1981 she married Jack R. Mace and they reside on West Walnut Street, Greeneastle. They have two daughters, Kenzie, 8, and

First United sets 30-cent dividend

The board of directors of First United Savings Bank has declared a cash dividend of 30 cents per share of common stock, according to William M. Marley, president and chief executive officer. ANNOUNCEMENT of the cash dividend was made at the annual meeting of shareholders Oct. 31. This dividend will be paid Dec. 31,

Hardwick, Rattray go to seminar Robert Hardwick, of the Greencastle invesunent firm Edward D. Jones & Co., has announced Jenni Rattray’s completion of the STAR Training Program. The STAR Training Program, which stands for Service, Teamwork, Accuracy and Results, was created by Edward D. Jones & Co. especially for its branch office staff. THE PROGRAM consists of four weeks of daily modules explaining the securities industry, Edward D. Jones & Co., and procedures branch secretaries are responsible for in helping investment representatives serve clients’ investment needs. “We at Edward D. Jones & Co. pride ourselves on the one-to-one service we offer,” Hardwick said. “The STAR Training Program is just one more tool that helps us continue the personal service for which we’ve become known.” Rattray added, “The STAR Training Program has helped me learn about the various transactions involved in my job quickly and easily. With this background, I’ll be better able to help Bob serve the people of Putnam Countv. RATTRAY JOINED Edward D. Jones in June 1990. She is a native of Fillmore, Indiana and has lived in Greeneastle for twenty-one years. Edward D. Jones & Co., a member of the New York Stock Exchange, has more than 1400 offices in 40 states, with headquarters in St. Louis. The Greeneastle office was established in January 1985.

business

ders showed rates on a 30-year fixed rate mortgage have dropped steadily to 10.17 percent and on a one-year adjustable rate to 8.17 percent. MOREOVER, while some banks might be cutting back on lending to businesses, many banks are aggressively seeking borrowers who offer homes as collateral. At the same time, affordability has soared. The median home price measured by the National Association of Realtors was down to $94,300 in September from $97,100 in August, while the national median income rose. Those changes put the association’s affordability index at 110.9 in September, one of the highest in recent years. In the mid1980s it had fallen well below 100, meaning the typical family couldn’t afford the typical house. Translated, the September index meant a family earning the national median income of $35,239 in that month had 110.9 percent of the income needed to qualify for conventional financing covering 80 per-

Casey, 5, who attend Jones Elementary School. Her responsibilities will include coordinating marketing and advertising programs in all aspects of media and special interest projects. HER PAST HONORS include 1984 Honorable Mention Advertising Ideas Award, Indiana Advertising Executives of the Hoosier State Press Association, and 1987 Advertising Ideas Award, second place Indiana Advertising Executives Association of the Hoosier State Press Association.

1990 to stockholders of record as of Dec. 1,1990. First United has its principal office in Greeneastle, and operates two banking offices in Bloomington. Greenmark Insurance, a full-ser-vice insurance agency, is a subsidiary of First United and maintains offices in Greeneastle

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JCRenney Fashion comes to life F^ißsßrlH>Hl

cent of a median-pnced home. IT HAS BEEN SIX to eight years in many sections of the country since such favorable buying conditions existed, a long time in terms of the economic :ycle, and one that probably led some would-be buyers to give up the search. Many buyers did remain patient, however, recognizing that the most certain thing you can say about the economy is that it is cyclical, rising and falling and rising again and that the real estate cycle is even more pronounced. Prudence also dictates that buyers have a reserve of .funds for emergencies, of course, but also to pay for the various items that may accompany the purchase of a home: furniture, drapes, lawn mower, washing machine and more. Perhaps it isn’t a perfect market for buyers; it never is. And it is even conceivable that better buys might lie ahead. But those who for years have postponed buying a house can at least begin looking and planning now.

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MARY JANE MACE Heads advertising, marketing

and Bloomington. “WE ARE PLEASED with the Sept. 30, 1990 quarterly results of the bank,” Marley noted. “Net income for the quarter was $76,500 or $.14 per share as compared to $9,300 or $.02 per share for the same quarter of last year. Operations continue to show improvement”

Tuesda y I'N'l.!. James , jfm. Pi { V ' Friday f I 1 Revelation j.\ ~ ‘ Psalm

That We Might Be Free

Some were young, having never before left the security of home. Others were older, raising families and engaged in established occupations. Yet, each had a common denominator. All of those brave men and women put a halt to their lives as they knew them, left familiarity behind, and traveled to foreign shores, risking their lives to protect our concept of democracy, inevitably, many died for this noble cause. Each time we cast our ballot.. . every Sabbath as we worship in the church or

GREENCASTLE OFFSET PRINTING Terry & Pat McCarter, 20 S. Jackson 653-4026 CASTLE CHEVROLET BUICK GEO, Inc. ‘Wtere you ‘rt Truued Likt %pyatty ' Greeneastle, IN 653-6435 HUMPHREYS’ OUTDOOR POWER Sales & Service, US 231 N. 653-3019 JULIE’S POODLE PARLOR Wayne, Julie & Aaron Burns, 11 Bloomington St. 653-5573 BOYCE’S RED & WHITE SUPERMARKET Steve & Beth Boyce & Employees 309 East Franklin St., Greeneastle, 653-2159 MARK A. SMITH, D.D.S. Complete Family Dental Care 1208 Bloomington, 653-5653 GREENCASTLE FEED CENTER, INC. U.S. Hwy. 231 North, Greeneastle 6534191 GREENCASTLE SHELL FOOD MARKET Linda Trueblood & Staff,, 701 N. Jackson, 653-8372 JOE ELLIS HEATING AND AIR CONDITIONING, INC. 116 W. Franklin, David Masten, 653-6712 TRI-COUNTY AGENCY, INC. Roachdale-522-1000, Bambridge-522-6202 CENTRAL NATIONAL BANK Officers, Directors & Staff, 1 Central Square and Putnam Plaza Branch WAL-MART DISCOUNT STORE Management & Associates, 653-2481,25 Putnam Plaza, Greeneastle VICKI’S FAMILY RESTAURANT Vicki Nees and Staff U.S. Hwy. 231 North, Greeneastle, 653-4288 KROMME PLUMBING & HEATING Gene Sawyer & Staff, 1111 S. Locust 653-4694 ROSEWOOD HEALTH CARE FACILITY Ted Merrick, Ex. Dir., & Staff, 1306 Bloomington 653-2406 SHUEE & SONS TV & APPLIANCE Sales and Staff 24 N. Jackson, Greeneastle The Shuee Family and Staff LONE STAR INDUSTRIES Greeneastle, Indiana SYSTECH CORPORATION Quality Control Analysis of Flammable Liquids, Greeneastle, IN BRACKNEY’S WESTERN STORE The Brackney Family, U.S. Hwy. 231 N. 653-9464 compliments of the GREENCASTLE NURSING HOME 815 E. Tacoma, 2 blks. N. of Armory ATTORNEY WILLIAM BRACKEN Greencastie-653-5741 Roachdale-522-1777 MONON CAFE 814 N. Jackson, Greeneastle, 653-8012 IBM (Ind.) EMPLOYEES FEDERAL CREDIT UNION 13 Putnam Plaza, 653-9731 FARM BUREAU INSURANCE Agents Dennis Folck, Mike Clodfelter, Kevin Hutcheson, Brad Mendenhall 653-9797 COLDWELL BANKER PUTNAM REAL ESTATE CENTER 1001 S. Bloomington St, Greeneastle, 653-5158 QUANTUM MECHANICAL INC. Heating * Air Conditioning Refrigeration RR 6, Box 45 Greeneastle 739-6222 PUTNAM INN RESTAURANT Ron Hansen & Staff, 400 N. Jackson Greeneastle 653-8777 B & E ELECTRIC SERVICE Electric & Commercial Refrigeration, 1108 So. Locust 653-3953 MCPHERSON MARKET Marathon Gas-Self Servioe Downtown Groveland-on US 36,10 Mi. W. of Danville, 522-2844 HATHAWAY’S CAFE 18 South Jackson St, Greeneastle, 653-1228 CROWN VENDING SERVICE CO. 653-8668--dependable food & refreshment vending service for the Greeneastle Area.

This weekly message is sponsored by these local businesses:

synagogue of our choice. . .those instances when we might express a political opinion without fear or reprisal, let us remember the months and years sacrificed by our veterans as they defended and still defend the rights which we enjoy today. As Veteran's Day approaches, may we honor the selfless men and women who have paid with a portion of their lives that ours might be free. Scriptures Selected by The American Bible Society

KERSEY MUSIC COMPANY David & Sandra Fanning & Staff 11 N. Indiana St., Greeneastle 653-6824 BLACK LUMBER CO. 501 North Indiana, Greeneastle 653-5171 GREENMARK INSURANCE A Full Service Agency, 1 N. Locust, Greeneastle 317-653-4141 or 1 -800-321 -3436 SKELTON-SKINNER LUMBER CO. Retail-Wholesale-Transit Shippers, 1221 S. Bloomington 653-9705 TRI-COUNTY BANK & TRUST CO. member FDIC-Roachdale-Bainbridge-Russellville HERITAGE HOUSE CONVALESCENT CENTER OF PUTNAM CO. 1601 Hospital Dr. 653-2602 SERVICE GLASS Merle & Carol Dixon & Staff, 1104 N. Jackson 653-9452 ALBIN’S POOLS & SPAS Norma & Tom Albin, Albin Pond Rd. 653-3228 BERT & BETTY’S KITCHEN Mon.-Sat. 6:30 a.m.-3:00 p.m. just 1 block behind post office in Fillmore, 246-6124 THE WALDEN INN Matthew O'Neill & Staff, 2 East Seminary 653-2761 DR. WAYNE M. LEWIS Complete Chiropractic Health Services West Walnut Street, Greeneastle 653-3454 PIZZA KING 653-3184 or 653-3185,400 Bloomington, Greeneastle THE ROCKING HORSE The Childrens Specialty Store M-F 9-6; Sat. 9-5; Sun. 1-5, North Side of Greeneastle Square DAVE’S ROOFING & REPAIRS Houses and Barns, Single, Metal, Tear Off, 317-522-6790 A. HUBER & SONS PLUMBING Heating & Air Conditioning, Indianapolis Road 653-3133 JULIE’S FAIRWAY RESTAURANT Julie, Wayne & Aaron Burns & Staff, U.S. 231 North, 653-3531 ROUND BARN MANOR APARTMENTS “THE New Apartments in Greeneastle" West of Wal-Mart 653-7871 MALLORY CAPACITOR COMPANY A Div. of Mallory Components Group, Emharl Industries, Inc. COMMUNICATIONS CORPORATION OF INDIANA ‘The Telephone Company" Roachdale, Indiana HEARTLAND HIDEAWAY DAYCARE Dee Prince, licensed director, just north of Bert & Betty's in Fillmore, 246-6533 GREENCASTLE HOG MARKET John McCorkle, Mgr. & Staff, Greeneastle, Indiana LOBDELL-EMERY Manhattan Road Phone 653-2611 MUFFLER CONNECTION Jim & Candy Robinson & Staff, 816 No. Jackson, Greeneastle 653-4424 JENKINS STANDARD SERVICE Indiana & Walnut Streets Greeneastle, 653-9933 B. VIDEO HEAVEN Sales & Rental 653-8789,24 S. Indiana, Greeneastle CASH CONCRETE PRODUCTS, INC. ‘Since 1919" Webb Road 653-6533 WILLIAMSON ROOFING 5021/2 South Bloomington, Greeneastle 653-6214 McQUIK’S OILUBE 805 Indianapolis Rd., Greeneastle, 653-2180 1 GRIFFIN’S CONVENIENT GROCERY Open daily 6 am. to 10 p.m., 608 Tennessee, Greeneastle 653-2545 HARDEE’S RESTAURANT 1047 Indianapolis Road, Greeneastle, 653-6355 WW VIDEO Great Movies at low prices. Open noon daily, 1 p.m. Sun.; Close 9 p.m. daily, 10 p.m. Fri. & Sat 10 W. Washington, 653-7295 GIRTON’S BOOK SHOP Bob Girton & Staff,, 12 W. Washington, Greeneastle 653-2665 YORK PONTIAC-OLDS-GMC TRUCKS Indianapolis Road, Greeneastle, 653-8426