Indianapolis Times, Indianapolis, Marion County, 11 August 1948 — Page 7

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GOP Trims’ Down Payment In Measure

Bill Designed to Spur

Apartment Building WASHINGTON, Aug. 11 (UP) ~—Government housing experts warned prospective home buyers today against buying beyond their means simply bécause down-payments are lower under the new housing law. The chief feature of the Republican housing program, signed into law by President Truman yesterday, is a partial revival of! so-called Title Six Federal Mortgage Ihsurance. This is aimed at suCqutaging new apartment

permanent housing law, more commonly known as Title Two, to make it easier for individuals to buy new houses on the present ‘expensive market. This was done by reducing down-payment requirements. How to Avoid Grief “Our only worry,” said one expert, “is that the lower downpayments will encourage people|

to buy homes they can’t afford.)

Naturally, when you reduce the down-payment on a house, - the monthly payments are just that much higher.” This expert said that before buying a new house, the prospective purchaser should stop and consider whether his income will continue at present relatively high levels or drop sharply with the first economic slump. “If people will only do that” he said, “they may avoid a lot of financial grief later on and even the possible loss of their homes.” \ Loan Up to $8600 : Under the old law, the Federal Housing Administration could insure up to 90 per cent of the first $6000 loaned by a bank for the purchase of a new house, and up to 80 per cent of the next $4000. This meant that a man buying a $10,000 new house could get up to $8600 worth of Federal mortgage insurance, leaving him to raise a down-payment of $1400. On an $11,000 home, the downpayment would have been about $2400.

Under the new law, the government will insure up to 90 per ent of the first $7000 on a new thouse and 80 per cent of the next $4000. In other words, a man now can purchase an $11,000 home with a $1500 down-pay-ment. Includes New Homes The government also will’ in-

, AUG. 11; 1048 _

tonight's concert are {left to right) Marguerite McClelland, tenor, and Martha Larrimore, contralto. Serving the coffee i

all-Viennese program, Ligh familiar songs and waltzes.

60 AFL Sawsmiths Remain on Strike

About 60 sawsmiths are still on strike over wages and apprenticeship conditions.

233388883: i g : 2 :

[email protected] Good to choice

autions Buyers of Hs

EYE-OPENER — Butler Bowl soloists faving coffee in the Lincoln Hotel this morning before rehearsing with Fabien Sevitzky and the Summer Sympho

ny for soprano; John ain, is Joe Chapman, 1501

E. Montana St. The young singers will be heard separately and together in tonight's

1200 Steelworkers LOCAL LIVESTOCK

~Aug, 10 Medium [ 0SS | GOOD TO CHOICE HOGS (4380) 300-1000 pounds ....... : - 26.00 JOMMOn 1 28.00] 200° POUNdS ..iiiienvann 29.50

20 The E. C. Atkins Co. reopened] 330 HS ood to cho CAlves (Relters) committee said, “produces a-con-today after a two-week shutdown | 33 28. a] pounds dOWD ......eeees [email protected] stant turmoil of bickering, rewhén 1200 CIO United Steel-| 00/300 pounds down ........... £[email protected] San, A and workers returned to work! SHEEP (1580) y governors through picket lines of the AFL oe. ct Lambe has any direct responsibility for : "50 Good “closely sorted i... 130 {national security. Sawsmith’'s Union, 35.00 Sood to Gholce ....ciicavene ns 000200 Finally, the committee sald, the

[Common and medium

.junits with the Army's

eer 36.00836.00 Goclares a national 21.00@%4.00 and the ‘time-consuming transfer

1030/as a state militia. If the Guard

report urged of the 48 states’ national guard Organized Reserves, to produce a National Guard of the United States (field forces) and a United States Air Force Reserve. Headed by Assistant Army Secretary Gordon Gray, the committee said national security requires federal unification of reserves, because there is no guarantee of having a time margin to prepare for war, as before 1917 and 1941. “The National Guard, dispersed {throughout the country, is suitable for containing and destroying a small invasion force,” said the report. “(But) National Guard and Organized Reserve units are not capable of performing major {combat missions on M-Day unless some method can be found to increase their level of train-

ing. » ‘Constant Turmoil’ The aim of the merger was to

mobilization—“the legal anachs ronism which makes the National Guard unavailable for federal {mission until Congress formally emergency,

of property from the states to the federal government when the National Guard is mobilized.”

Guard has such powerful armament that it is no longer suitable

is m with the reserves, the

gations under a collective bar-!Com

ERE =i lool Priv BE anes Robb, district director of | Toor Bund: pi rl he Vos’ ihe "organs Svar a. Re binding, not ‘of Local 1543 to go. Dank to EE Sou Ava } porns ae 1%, sneer in"Bt Guard Officer Bitter bout of The iANSd Nisthmorbocs aw us fount hee 5 4 /At Federal Proposal . of America to carry out its obli- rio-io0 pounds dium, Ge" crade IXY XE WASHINGTON, Aug. 11 (UP)

1, Tie: N

Butterfat—No. 0. 3 68. \Price quoted A Wadley Co. delivered )

yaa reaction today to the federalization proposal was bitter

Saining sontrast With ‘the. cota IT punts enero, 3 - The CIO group last week re-| 800- 800 pounds .......,.... 36.00 38.00 ceived a wage increase of 14% dai} BOuRBs. ...yesurunne ig nh cents, retroactive to Apr. 1, » POUAAS vivirsennnas 1. , under a new contract negotiated aS. 100 POUNAS yyveesnanass [email protected] po. with the saw firm. 500- 500_paunds wa « [email protected] Re.

Bee raahaF any

sure loans on houses up to $16, 000;but only at a flat 80 per cent. Above $16,000, the government won't insure any part of the loan. The same ceiling applied under the old law. The 00 per cent insurance rate also applies only to new houses or those previously financed under FHA and resold. On older houses, the government will in-| sure up to only 80 per cent of the loan.

Killed in 12-Foot Fall From Tree

A 12-foot fall from a tree to-

day was blamed for the death of]

Charles Eugene Hyberger, 21, of 1101 E. Ohio Bt. Ie was a tree nursery worker employed by a

. 1 « - Cows (All Weights) 5 Good Te 3 [email protected] | | y MEGUIR ........¢c;ewke Sassy 21.50 Cuter and common 18. 90 | Can 5.006 16

[email protected]| No.

? Beet Bulls (Al Wahis Res [0 a Good (all weight) «....v0neee [email protected] Sausage

Times State Servies BLOOMINGTON, Aug. 11—An Good executive committee to futher development of a state-wide recrea-|Cutier and common. ... tion plan was named today by Steers Garrett G. Eppley, chairman of] [Feeder and Stocker Cattle and Calves the department of recreation in a 800 pounds Indiana University. The first meeting of the com- W500 vounas mittee, which includes members of the Indiana Economic Council’'s advisory committee on recreation, will be held in Indianapolis on Aug. 18

reer [email protected]

[email protected]

Sethe sawrean

Local Issues

Aug. lew STOCKS Agents Fin Corp com.

cent

Bia Asked

Mungie firm. He was killed in a fall yesterday while working with a tree trimming crew in Alexandria. He

was cutting branches away from |g

high tension lines. Fellow work-| ers found his body when they |B returned from getting a drink| from a nearby: farmhouse. Madison County. Coroner Fred | Hidy said brain injuries caused the death. Hé said that although the youth only fell a short dis-| tance he !anded on his face, caus-|

ing the brain injury. An autopsy | committee,

was planned, but was cancelled and the body returned to Speaks & Finn funeral home here. His survivors include his wife, | Betty:

* Lincoln Jewelry Go.

219 W. Wash.—Opp. Statehouse

» 22%

The members of the executive committee are: A H. Watt, state superintendent of | publte instruction: Kenn oth i Con a, h Re Stk

Beli R & Stk ¥ SOUDs>-MelTil

n &

| Bureau; Mrs syne ' Kimmel, indian-

apolis, orestdant, Indiana division, Ameri-

Lo Association of University Women; » John Sovdwin. Indiana lis, vice 1% Frrbey dt Leagu Women (3% Voters; Mfrtin Nading, Rirector of rec|reation. Pt. Wayn ae McReynolds, supervisor of|& ml ras Agricultural Extension Service 16s)

jTurdue University; Paul Garrison, super- % ndent of schools, Richmond; Ralph J a chairman, public recreation the Evansville; Reynold E. Carl mn, assistant professor of recreation, Inin University; Burley Bechdolt, Indian- { apolis, director. of research, Indiana State! eachers’ Association; Jackson Anderson, 1 ratiate professor of recreation, Purdue University; James Sonover, rincipal, Gareld High Schoo erre aute; Robert foho, state Rs - physical education, State Board of Health, and Paul Middle:

101 |

100

ton, director of the Indiana Economic Council. - Joi NAuOnal Lite 13 is ! erson Atiuna) ® com. Inspect Army Posts Kingan pd : Kingan & Go com

Lt. Gen. Henry 8. Aurand, US|Lincoin Nai life ....... ‘a Army director of logistics, will aan, Sb Did ‘arrive in Indianapolis tomorrow Mastic Asphalt on his tour of Ft. Benjamin Har-|; rison, Camp Atterbury and supply installations in Indiana this N week. He is accompanied by Mrs.

Aurand.

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Pub *Pub Serv of ind In pd Ross Uear & Tool com, . So Ind ©

WONDERING WHY SANTA'S HERE NOW?

HE'S MADE A SPECIAL TRIP JUST 10 TIP YOU OFF ABOUT

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a E 48 pid .. Stokely-Van Camp com . |Stokely-Van Camp p1° .

{astrologer-economist “n stars today and predicted |p nines i un |that the nation’s current busi-|; @é |ness boom will hit,a slump i ia, ardund election time, * Paul R. Peak, a stoma 1% | whos dabbles in astrology, said 18% that in Névember Jupiter will be *!in opposition to Uranus, the same planetary situation which existed {in February, when there was d| PERM-ASEPTIC CLEANING 11 , {temporary economic slump. | Bo Mr, Peak, who is attending the 102s! American Federation of Astrolo-| Sh gers convention, prosperous times will return for| 03 |a while. 17 | 1951 the boom will end with a

by| FAN Sill

blown depression,

1.00 Local Truck Grain Prices

2 ved wheat, $2.00. 2 white corn, $3.04, i yellow corn, $1.78.

2 soybenns, 14%

Irishman Gripes "As Water Taps . azn TUN On. Alcohol

alcohol. » » »

ENGINEERS explained that as an anti-freeze measure during solved one of its high cost of cold weather builders often putijjying problems today by per-| alcohol in boilers of unoccupied mitting visitors: to buy fish from Houses and that later, when 10W the z00 to throw to the sea lions. pressures occurred, the aloohol drained into supply lines.

‘I Check valves were adjusted to oy the sea lions’ daily reshut off Mr. McSorley's alcohol.

Astrologer Predicts

+'Slump’ in November

CHICAGO, Aug. 13 (UF) eR |_INBIANAPOLIS CLEARING nousk |

Shp

But, he added,

PHONE:

THOMSON

NEW YORK

Muses New vom stoce SECURITY

water faucets were running

predicted that]

PRINCIPAL EXCHANGES

For fast and complete brokerage service

BROKERS IN SECURITIES AND COMMODITIES

5 East Market Street CHICAGO Offices in 39 cities in the United States and Canada ' ‘Write for our Current Stock Survey

AND COMMODITY EX

among state and guard leaders, Typical was the belief of Maj. .Gen.- Milton A, Reckford, Adjutant General of Maryland and

eliminate two obstagles to quitkiiigorous defense

Dual control of the guard, the N

diana In 1940. He has been serving as Supreme Vice Chancellor , of the Supreme Lodge since March, Mr. Bestia iS BAR best Grand rand Secrepary. since 1940, 3 dee fices in the Pythias building.

Defends Federal Public Relations Chiat Town

Bureau WASHINGTON. Aug 11 — A government information: before the American Public Rela-

dianapolis and Evansville news-|

paperman. Pointing out that while the

public relations counsel for pri-

and a budget, these matters are more complex when working for the government. No Party Exempt, “In the first place government public relations is suspect” Mr. Stern said. “No matter which party is In power, the

tion officers. are engaged in using PR for partisan advantage. After all, they reason, why a public relations group? What i .

as advertising in government.”

Using the CAA setup to illus trate what & major factor adequate and uibiaded information has become in government, Mr, Stern concluded:

nment's ! gos about like that “of ‘a snowball in a hot place™ “They don't want to be interfered with by the 48 governors,” he sald of the plan's proponents. Georgia's Adjutant General,

oups.” wil Gov. James H. Duff of

“have to be good reasons” for changing the present set-up.

PHILADELPHIA, Aug 11 (UP) — The Philadelphia zoo!

ad ho Roger Conant hoped he public would buy enough to

quirements of 15 pounds of fish! each, The ‘fish sell at a nickel each.

They . can’t be taken home, Mr. Conant emphasized.

Moth Proofing |

AT NO EXTRA CHARGE | WITH REGULAR LOW PRICED

NO GERMS & NO ODORS | : NO MILDEW & NO MOTHS

STORES ALL OVER INDIANAPOLIS

DIRECT WIRES TO

MArket 3501

& MSKINNON

EXCHANGE AND OTHER PRINCIPAL EXCHANGES

Alpha A. Bowler, called it a Gage RITAN, of “Potomac fever” amongs 2 man 50 RA N. J. Aug. 11 (UP) {ion entrenched Washington ‘ : [email protected] \—John McSorley complained to

the township board of commissioners that the

in his kitchen + [email protected]/ alcohol instead of water.

An analysis showed that at times the taps flowed 1 per cent Zoo Sells Fish and at times as high as 33 per To Feed Sea Lions

Pennsylvania said ' that ‘would!

“Let me hasize that we a gt 4 Bo \l office. We do politica) propa

connotation.” 2

was made [80®/a meeting with Mr. Rose. Ben “clean house”

vate industry may have a boss| here

tion believes that thé informa-

Stliing? It's Just aa!

L7 have even the slightest a:

HEADS K. OF P.—Fred Rat lif, Marion, is new supreme chancellor of Knights of Pythias in U, S. and Canada,

Billy Rose Offers To Run ‘Met’

NEW YORK, Aug. 11 (UP)— Billy Rose, columnist and show-

The offer was made in a letter to Met Board George A. Bloan, who said he would ar-

Mr. Rose daid he wanted to and “introduce a bit of streamlining t would

find favor with music lovers Vampire Authority Dies in England RICHMOND, Aug. 11 +4 (UP)=The Rev, A, M. tague Summers, world

of soop and soll

3.00 a Week

hands never touch water

§ No stooping] The Thor is obloeight with tbe vide opening of top

22.06 Down on Asout THE THOR

Cremation is nob

of a mortuary, it is a highly pecialzed process requiring the supervision of trained technicians.

Both Crematory and the Columbarium (the

ful and peaceful roundings right i

in indianapolis. The re mains, may, If desired, be interred in a comes tery, Your inquiry regards

ing modern cremation services is invited.

CENTRAL CHAPEL

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