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Show mE MIDVALE SENTINEL lOOKING Published Every Friday THE SENTINEL. MIDVALE. UTAH Friday, Nov. 24, 1944 Page Six A DREAM OF THANKSGIVING , , , By COLLIER AH.&AJJ &tered aa Second CJan A!atter at the PostoW::e at Midvale, Utah, under the Act of March 9, 1878. S-Sgt. Edwards Predicts Long War With Japs BY GEORGE S. BENSON PrelliicHI;lftml'iH¥Colfepe HOWARD C. BARROWS Editor and Publisher Setl.J'Cy, .Arkaltslll IVA E. BARROWS, Anociate Editor P lace to Live tew weeks ago this column closed with the statement: "Industry must have security o! investment and hope of profit in order to do its part toward post~ war prosperity." Starting right there, a New York reader took time to inform me that industry was not alone in needing security of investment. He presented a most astounding set of figures about perslJnal investments. The largest single investment made by most Americans, he declares, is in a place to live. Then he adds: "Jerry-built houses bring us more than ten times as much loss as tire. In the last ten years. fire losses in the U. S. have been about three billion dollars while losses resulting from poor building construe· lion exceeded 30 billion dollars in the same period." An Ugly Picture Imagine Sergeant J oe D'Oaks com~ lng home from war. The date ot his weddlng is set and bome~making is In order. He pays his only $1,000 down on a $5,000 house in a suburb of his home town. The sub-divider allows him 15 years to pay of! the rema.i.niog $4,000 in rent-like payments of $35 a month. They cover principal, interest and a few small assessments. A new home has been started. Nearly five years pass. Joe Jun ~ ior is four years old. There have been a lot of costly repairs, especially when the piano broke through the living room floor. The front door no longer fits its frame. Heating costs are like robbery. The place is not worth the $2,000 yet to pay on H and Joe is ready to quit. The D'Oaks family enters temporary quarters and takes a loss of $3,000 plus. Tbe Other $2,000 The house is not paid for. Joe signed .. instalment notes before he moved in. The real estate man discounted them to a bank. Does the bank lose the $2,000? Certainly not; the loan was insured by the Federal Housing Administration. Soon the FHA takes the mortgage and tries to sell what Joe couldn't endure. Government's average loss on such deals exceeds $600 and there are plenty of them. As of December 31, 1940, the FHA had insured 634,023 mortgages. During 1941 trouble started developing in houses built in 1935 and 1936. Foreclosures {and delinquencies with expected foreclosures) number 5,456 which is 9.4% of loans insured in 1935 and 1936. If the same ratio applies all the way through 1940 when 634,023loans had been insured, foreclosures reached 59,598. Tbe Taxpayer Pays On the theory that FHA would be self-sustaining, Congress started 1t out in 1936 with about 35 million dollars. But the government's loss ot $600 per re-possessed house. figured on 59,598 houses, exceeds 35lh million dollars . It is not a fantastic figure. FHA's annual report says foreclo ~ sures in 1940 Jncreased 26.4% over 1939. These pre·wnr figures warn that post-war safeguards are needed. The building industry 1s enormous. It affects everybody. When the building industry prospers, most industries prosper. The riveter's bam· mer and the carpenter's saw mark the tempo of prosperity. Building trends affect rents, taxes, social conditions and matters of health. Its very hugeness presents a temptation to pirates, especially in times ot acute demand and general prosperity. But pirates benett nobody. It is not fair if home-coming fighters and war workers, bent on making homes, waste their savings in houses that fall apart. It ls not fair t or older taxpayers to Liquidate notes that these defrauded young men must default. The solution is in 10und construction and mortgage money is the key to bet ter building. Nex t week's column will be on the subj ect of "Mortgage Money." (From The Western VeteJ·an) A SUBSCRIPTION RATES One Yeat· Un advance> ............ $2.00 Advertisinl Rate:s Given on R~qu~t Are We In For Trouble? A leading banking insh'tution obsen·es that the test of om abilitY to recover from the war • will be to produce and distribute goods. And in doing that ·'the essential thing is to find the equilibrium in costs and prices which will promote u·ade and not block readjustment by arbitrary intervention.'' During the war, production has been maintained with little thought of cost. As industry goes into competitive peacetime activity subject to the normal laws of supply and demand, cost \\ill become a ruling factor. It will take ingchuity to make rcadjustmeut, and since distiibution is a c-ritical phase of the problem, the retail merchants will play a leading role. Ah-eady relailt•rs have been (.'Onsulting with tnanufacturers on measures needed to insure price levels tltat will move stuff sorely needed by millions of consumers. tlu-ough regular distributive channels in an evergrowing flood. The fear of some of tl1e Washington regulators that producers and distributors may have a tendency to resort to ilie policy of charging all ilie traffic will bear after tlte war, is not logical. On the whole, industry of today must maintain reasonable prices or it cannot operate successfully. Local stores are typical of modern industry. Their existence depends on a tremendous volume of sales at a ,·en· small unit • profit. Prict>s are held to an absolute minUnum in order not to impair volume. High prices and low volume would spell doom for tl1e chain store;, just as it would for the whole 20tlt century system of mass production and distribution. If the regulators intend to set up a permanent price control system on the obsolete theory that industry is going to look for excuses to boost prices after tl1e war, the country is in for trouble. The very t:l1ing we are warned against will happen. A • r eturn to a normal equilibrium in costs and prices that will promote trade will be blocked by arbitrary interven tion. FARMERS WARNED OF REGIMENTATION A warning against groups that will seek to continue wartime economic and social controls, for fear not enough postwar jobs will be available in bus iness and industry, was sounded by the Most Rev J oseph H Schlarman, Bishop of Peoria, in an address upon re-election as president of the National Catholic Rural Life Conference. The bishop urged that all veterans and defense workers who came from agriculture be aided in returning to rural life, but added: "We don't want the farmer and rural worker hamstrung by governmental bureaucracy.•• Acid Indigestion Relieved in 5 minutes or double your money hack When MCHS atomadl add eau•~ J)ain(Ul, IUt!'oeat.~. ao\lr ftomaeh and heartburn. dOClon uauall.J pre!lert~ the ta~tut-aettna mPdldne. known tot in&' fJtlll)tOOiatlc reltef-medlelDI's llko tbo8e In '&11-a.n. "•bltU. No ln:alhe. DPII·an• brlna• comfort In a JU1'7 or double 7our mon11:1 bac.t oo. return of botlh to us. !5c at &a dN.(a:Uu. , F O R .. . Style, Quality and Long Wear BUY Your CLOTHES - f rom - H. F. Rasmussen Merchant Tailor Cleaning - Pressin g Alteration t FOOD The Way You Like It I FISHER and BECKERS BEER On Draught JACK'S DeLuxe LUNCH Phone Mid. 298 with a steady and perpetual serenity.-Addison Manageme n t Knows Its Responsibility "Management has a sharp sense of its social responsibility and ·a deep personal interest in its employees," 'Valter B Weisenburger, executive vice president of the National Association of Manufacturers, told 200 management r~J;> resentatives at a recent meetihg of N AM's Institute on Industrial Relations. ' ' \\\\\ War with Japan will continue long after Tokio is captured, according to comments made by S-Sgt. William E. Edwards, who was in Salt Lake City last week visiting relatives and friends. Sgt. Edwards was in the army three years before the sneak attack at Pearl Harbor, and has served in several of the theaters of war including the Asiatic. The .Japs are not as xnuch interested in the small island possessions as they are in the rich portions of China that they now control, he •declared. The Japs have possession of every port for thousands of miles on the China coast and their possession and ab~ solute control extends far inland, the sergeant continued. All the Japs will do when the Yanks make it too hot for them at Tokio, he said, would be to make a quick retreat to China where they have been building up fortifications for years. It is up to the Allied forces to come from back of the Jap lines on the mainland of China and bring the fleet to blast the coast fortifications. Allied forces will attack with heavy bombers from all sides, but this is not as little a job as it sounds like on paper, he said. The Allied lines will be long and the Jap lines will be short. The Japs will have all their supplies concentrated right at hand, while supplies and reinforcements for the Allies will have to be transported over such long distances which will tend to lengthen the time of the war. However, he said, that Victory was assured, and what a victory it will be when the Jap rats get through paying for their treachery, he concluded. Sgt. Edwards was born in Sandy. Utah, but his mother now operates a large stock ranch, a cheese factory and truck farm in southern Oregon. After receiving a furlough and visiting his mother, Sgt. Edwards stopped in Salt Lake City to visit relatives and friends on his return trip to his military station in Georgia, where he is stationed at the present time. MENUS WILL "GLOW" Program and menu-fumbling in dark theatres and restaurants will be over after the war, according to electrical manufacturers who foresee use of luminescent paper glowing in the dark-paper now used for aeronautical charts and war maps. * WANT ADS ON P AGE FIVE. Bring If In! WASHING MACI-UNES VACUUM CLEANERS ELECTRIC APPLIANCES REPAIRED Gamble Store Midvale, Utah i"'A'!A\'A!AfAY.IVIOOIVI!AfPAYAJAIA'fAYi!AVQ.IYAVA!A!A!ADYA"fAIAl'&!AU!A!IVItAfA!IfAtAfAPA!AiiOOAU!C Cheerfulness keeps upa kind of daylight in the mind, filling it LEONARD NEWBOLD CENTER ST. SERVICE ---- · STANDARD CLEANING SOLVENT GENERATOR EXCHANGES FUEL PUMP EXCHANGES OIL FILTERS, SPARK PLUGS FAN BELTS, RADIATOR HOSE BRAKE FLUID BRAKE PARTS BATT ERIES Gas Oils Lubrication Washing --Accessories Vulcanizing - Recapping MIDVALE GARAGE ONE- STOP SERVICE Phone ~lidvale GENERATOR REGULATORS and CUT-OUTS TIRES and TUBES COILS, CONDENSERS POINTS, BRUSHES DISTRIBUTOR CAPS HAND SEPARATOR OIL FLY and ANIMAL SPRAY ARNOLD C.TROESTER 349 lWU/'1 * * IF you want your Christmas Packages delivered before Christmas . . . .. SEND THEM BEFORE DECEMBER 1st Mountains of military mail and express MUST be handled first .... but your gifts will reach their destination anywhere in the United States by Christmas if all of us observe Unc._~ Sam·s deadline. |