Decatur Daily Democrat, Volume 55, Number 97, Decatur, Adams County, 24 April 1957 — Page 6

PAGE SIX

FILMS Dereloped by Edwards j 24-HOUR SERVICE Kohne Drug Storw-

BUICK 1952 Special 4-Door Sedan ,r Standard Trans., Radio, Heater. Black over Grey, Local One Owner. $795.00. ' SAYLORS

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Attendance Record * At Church Os Christ The Church of Christ established a new attendance record of 83 at , Easter Sunday services, and Car- ; roll Myers, minister, kept his

promise that he would let the old record of 73 be broken over his head. This privilege was awarded to Frank Rumple, .who broke the phonograph record for bringing the largest number of visitors to | the services. hen a new a record is established, the 83 record will be broken I over the head of Lee Moser, Sun-1 day school superintendent. LEHMA N (Cnntlnwe tro-n fvh On» Don Smith, Mrs. Gale Cook, Oscar Brown. Ardon Messer, and Paul Rich. County agent Leo Seltenright helped set up the meeting. The second Monday of each months has been tentatively set as the meeting night.’ It is the same as last year’s meeting night. :

THE DECATUR DAILY DEMOCRAT. DECATUR, INDIANA

Plan Bible School | Al Adams Central School Will Open Monday, May 27 Plans were announced today for the Adams Central Bible school which will open at 8:15 a.m. Monday, May 27, at the Adams Central school in Monroe. Mrs. Walter Egley is director of the school. She is assisted by Mrs. Glen Stucky. The enrollment of the school last year was 514. A preliminary teachers meeting is scheduled for Sunday a 1 p.m. at the Pleasant Dale Church of the Brethren. Attending will be teachers, helpers, officers and the ministerial board. The meeting, which will open with a short worship service, will feature completion of final details for the classes will be distributed. The ministerial board will also meet in separate session to elect officers and a director for 1958. The school is open to all children between the ages of four to 14. It is interdemoninational and all parents of the Adams Central area are invited to send their children. Among the subjects to be studied are the Bible, missions, hymns and Bible art. Missionary and /educational films will be shown. Each day of the school will open with a teachers' meeting at 8 p.m. for meditation and daily planning. This will be followed by two worship services, one for the children age 7 to 14 under the direction of Mrs. Egley, and. the other for the younger children, to be conducted by Mrs. Stucky. A complete list of the teachers and helpers for the various classes will be announced soon. Two Are Arrested On Traffic Charges Two motorists were arrested on ; traffic charges in or near Decatur Tuesday night. Cleo Bookout. 49. 1 of Portland, arrested on U, S. highway 27 north of Decatur, will appear in J. P. court Friday. ' David Hopkins, 22, of Fort I Wayne, was arrested for speeding on U. S highway 27 in Decatur. * He appeared in J. P. court Tues- ' day night and was fined $1 and 1 costs. !, DEAN BURTON b (Comlnufa rr»«a fare OMI Freeman, Montpelier, a right-of- ' way buyer during the Te verba ugh- ' Smith days of 1954 and 1955. Young spent about 90 minutes behind closed doors with the juror*, andViFreeman was with ( them about an hour. < Mora witnesses, Some o£ whom , served in the highway department , during the Craig administration, < were' scheduled to appear Thurs- | day when the jury's investigation j is resumed.

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Bill Jones Is Named I College Grid Coach TERRE HAUTE - (IB — Bill Jones, whose Sullivan High School football teams won 37 of their last i4O games. Tuesday was named grid coach at Indiana State Teach'ers College, succeeding Mark Dean. Athletic Director John Longfellow said Dean resigned on doctor's orders. 1 Jones, 41, is a native of Clinton. He has been head grid coach at Sullivan since 1943. Last winter he also was baheketball coach. MOBS exhorted the crowds to give the cabinet more time to consider their damends for a policy oriented toward Egypt and communism and away from the United States and the West. Say Border Closed Arab circles in Cairo said they did not think Khalidi's regime could last in the face of pressure from the street mobs. . A United Press dispatch from Damascus. Syria, quoted the government radio there as saying the Jordanian border had been closed this morning, the move coming as a “surprise” to Syria. Travelers reaching Israel from Jordan said the border was sealed to prevent Syrian agents from entering the country and to prevent “.deserters” from leaving. The "deserters’* were not further identified. A further complication to the troubled Mideast situation was added when an Egyptian member of the Mixed Armistice Commission reported that troops of the United Nations Emergency Force fired on an Israeli plane when it ' flew over the Gaza Strip village of Jabalia this morning. LENGTHY t (Cfonti*’ from nm; all three were men who “have the same philosophy as I have” in opposition to federal aid to education. : ' The governor said he had turned down a request that Indiana be permitted to ask about $162,000 in federal funds for library aid because he opposes “centralized control'’ as in the case of federal aid to education. Handley also said he plans to “show Henry a thing or two” in touring the Indiana county fair circuit this summer. He referred to former Gov. Henry F. Schricker, who was an avid fain circuit traveler. RACKETEERING (C—O—> cfats sponsoring the legislation is Chairman John E. Moss (Calif.) of the House Information subcommittee. Secretary of Defense Charles E. Wilson promptly called the group’s charge that the Pentagon has unnecessary military secrecy “contrary to fact.”

White Sox And Braves Suffer First Defeats By TIM ,MORIARTY United Freak Sports Writer It figures to be another long summer for Boston Red Sox fans, but at least they were able to rejoice today over Ted Williams' fast getaway and the surprising errorless ball being played by their heroes. Williams hit his second homer of the new campaign Tuesday in leading the Red Sox to a 3-1 vic- . tory over the Baltimore Orioles. . He Also added a run-scoring single —the 2.200th hit of his major league career—to raise his batting average to .423. However, equally important to all Boston rooters is that the Red Sox stand out as the only errorless team in the majors after the first eight days of the season. Last year they wound up at the bottom of the American League team fielding averages' with 169 errors in 155 games. Sullivan The Winner In Tuesday's game against the Orioles, the Boston infield handled 35 chances flawlessly. Backed up by this stout defense and Williams’ hitting, Frank Sullivan easily posted his first victory of the season. The towering right-hander allowed only four hits, including a ninth inning homer by George Kell thgt saved the Orioles from a shutout. While the Red Sox were protecting their errorless streak, the Chicago Cubs beat Milwaukee, 3-2, in 10 innings to drop the Braves into a first place tie with the idle Brooklyn Dodgers in the National League. Dick Littlefield, the third of four Chicago pitchers, picked up his first victory since being obtained from the New York Giants last week while Lew Burdette was the loser. Herb Score pitched the Cleveland Indians to a four-hit, 5-0 triumph over the Chicago White Sox. The Tribe chased Billy Pierce in the third after piling up seven hits and a 3-0 lead. In avenging his opening day loss to Pierce and the White Sox, Score struck out seven and only walked two. Reekie Hurls Three-Hitter The New York Yankees missed a chance to take over first (dace from the White Sox by dropping a 3-1 decision to the Washington Senators. The Nats tied the Score at 1-1 in the eighth and then won the game on Roy Sievers’ two-rim, two-out homer in the ninth off Johnny Kucks. A similar last inning clout by Lou Skizas carried the Kansas City Athletics to a 5-4 squeaker over the Detroit Tigers. Harry Simpson and Bob fCerv also homered for the A’s off rookie Don Lee, who was making his major

league debut. Rewarded with a surprise starting assignment by manager Bill Rigney, rookie Pete Burnside showed his appreciation by hurling the Giants to a three-hit, 1-0 victory over the Pittsburgh Pirates. A double by Willie Mays and Hank Sauer's single in the fourth inning proved the difference. Pinch - hitter Bob Thurman's two-run homer in the 10th inning gave the Cincinnati Redlegs a 6-4 victory over the St. Louis Cardinals in a night game. Frank Robinson and George Crowe also homered for the Redlegs. AVIATOR (Cootlo—<l fags O—> Made Fiight fer Free Bush, a commercial pilot on vacation from the Venezuelan Air Lines, said the boy was kidnaped by a Communist when his family evacuated the mainland to Formosa six years ago and that the Communists had been blackmailing the family. • He said he heard about the boy from a pilot friend who had been offered SIO,OOO by a stranger to

1 11 I !! 111 "" "F 11 11 ' How To Finance . The Home You Buy

This is the time of year many people are thinking about either buying or building a home. Few people know about present day financing, market value of existing homes, land values and construction costs. We will try to give you the facts to assist you in secuirng a home. Save these articles for future reference. Should you have a specific problem or if you desire additional information, come in to see us. HOW TO FINANCE THE HOME YOU BUY Perhaps some will say "you are getting the cart before the horse,” we should know how to buy a home first. This may be true but since very few people pay “cash’/ for the home they buy, how to finance the purchase seems to be the most important problem. It is obvious that you must know the where and how you can secure the money before you consider ihe purchase of a home. There are four general plans to finance the home y6u buy, a G. I. loan, an F. H. A. loan, a conventional loan, a contract of sale. G. I. Loans The only persons eligible for a G. I. loan are those men and women foot have been in military service. ’ There are two types of G. I. loans. You may secure the loan direct from the Veterans Administration or you may secure the loan from a lending institution with such a loan insured by the Veterans Administration. In each case the general process of securing the loan is similar and the requirements are the same. Most Real Estate men can inform you of the procedure necessary to apply for a G. I. loan. Either type of G. I. loan is available and may be secured. Down payments are as low as 5% of the purchase price for homes valued at $9,000 or less. Down payments on homes valued above $9,000 are slightly higher. In order to secure a G. I. loan there is considerable work involved and the minimum time required is 6 months. There are many advantages to the veteran and it is well worth the time and effort. On G. 1. loans secured from a lending institution there is usually a minimum charge of 1% of the loan paid by the veteran plus appraisal and closing costs of $125 to S2OO. In addition the seller must pay a minimum of 2% of the loan to the lending institution. The reason for th& charge to the seller*is die Veterans Administration will not allow a lending company to charge a veteran more than 1% of the loan and since most lending institutions charge 3% or more the additional cost must be paid by the seller. Lending institutions feel that these charges are necessary to pay for the additional work involved and due to the low interest rate. These charges do not apply to loans secured direct from the Veterans Administration. WARNING:—both buyer and seller should demand from the lending institution a written statement of loan costs prior to the closing of the loan. G. I. loans may be secured upon any property including farms, providing such homes are physically sound structures and contain minimum improvements, and in a sanitary condition. Interest rates are 414%. Remember—in order to secure approval of a G. I. loan the sales price cannot exceed the G. I. appraised value. F. H. A. Loans Some people have the idea that loans insured by the Federal Housing" Authority secure the money direct from the Government. This is not true. Lending institutions loan the money and insure the loan through the government agency. This protects the lending institution in case of default by the borrower. The borrower pays the COst of this loan insurance. Down payments are based upon the F- H. A. appraised price of the home NOT THE PUR-; CHASE PRICE. Usually the F.

WEDNESDAY, APRIL 24, 1957

make the flight. Both at first > thought it was a Joke. 1 "But we made contact with a e Chinese lady in the Peninsula K Hotel in Hong Kong—just to go ► along with the gag,” Bush said, i. "Those were our instructions from i the stranger. 1 "That was on April 2. We did it as a lark. We were convinced that s it was a smuggling deal of some I sort into Communist China and we ♦ weren’t buying any. But this worn- ■ an convinced us that there really *- was a boy in Communist China." - He said the family convinced him further and he and the other pilot made the flight-tor free. “Nobody could have talked to that boy’s parents and then net * bust his neck to help them get n their son back,” he said. i Rabbit Ear Mountain, in northy eastern New Mexico, was named - after Cheyenne Indian chief, calle ed Rabbit Ears because his ears - had been frozen during a particularly serve winter in the 19th y Century. The chief was killed in n battle, and is buried on the mouni

H. A. appraisal Is 10 to 25 percent BELOW the purchase price. The amount of down payment of the F. H. A. appraised price for existing construction is 10% of $9,000 or less, for values over this amount 12% of the first $9,000 plus 27% of the excess. For example:—if the sales price of the home is $12,000 and the F. H. A. appraised price is SII,OOO the down payment will be $2,620. Most, lending institutions have their “own requirements and at present there are very, few companies that will accept F. H. A. insured loans for less than 20% of the sales price as a down payment. In most cases this amount exceeds the requirements for F. H. A. down payments. The physical conditions of the property must be much better to secure an F. H. A. insured loan than any other type of loan. Most realtors have a list of these requirements and will be glad to furnish this information upon request. The cost of securing an F. H. A. insured loan vary between lending institutions but generally speaking these charges may be as low as 2% of the amount of the loan and as much as 5% of the amount of the loan plus loan closing costs of $l5O to S2OO. Interest rates including F. H. A. insurance is about 514%. F. H. A. and G. I. loans in this area are for a maximum of 20 years. CONVENTIONAL LOANS This type of loan is usually limited to a maximum of 60% of the appraised value. This means thit the down payments must be at least 40%. of the appraised value. Unless the sales price far exceeds the market value most appraisers of conventional loans will appraise the property within a few percentage points of the actual purchase price. In this type of loan the purchaser pays his own taxes and insurance while in an F. H. A. insured loan or a G. I. loan these costs are included in the monthly payments. The cost of securing a conventional loan may be limited to closing costs however most lending institutions now charge a fee of 1% of the amount of loan. Closing costs vary as to the size of the loan but normally will be $125 to S2OO. The interest charges range from 5% to 614%. PROPERTY PURCHASED UNDER CONTRACT This type of loan is usually made by an individual that desires to invest his money or the seller may decide he prefers to sell his property in this manner. In either case the investor retains the title to the property until the property is paid in full. Usually there is no charge for making such a loan however some investors require the purchaser to pay a small charge of $25 to SSO to cover the costs involved. The amount of down payments range from 10% to 40% of the purchase price. Interest charges are from 6 to •%. The terms of the contract are usually more liberal than other types of loans but the interest charges are usually slightly higher although closing costs are much lower. Every type of loan is based upon the ability of the borrower to repay the loan. Most every lending institution requires the borrower have sufficient income so that the monthly payments will be less than l/sth of mpnthly earnings. If you cannot meet these requirements your loan will not be approved. The amount you can afford to pay for a home and the amount of monthly loan payments you can afford will be discussed in the next article entitled “HOW TO BUY A HOME”. WATCH FOR THIS NEXT ARTICLE! These articles are written and published as a public service by THE SUTTLES COMPANY, 155 So. 2nd St., Decatur, Ind,, one of the oldest and most reliable real estate offices in Decatur, “YOU CAN BE SURE” when* you buy from SUTTLES.