| OCR Text |
Show Thursday. March 24, 1983 - Page THE HERALD, Provo. Utah, 23 Nation's GNP Growing Very Fasf WASHINGTON (UPI) loans are going from 1 percentage point to as "A sharp rise in interest rates much as 3 4 percentage points. The could still abort the recoveries in largest drop in lending rates was e components of de- for the bank s personal loans which mand and, hence, the general re- were cut to a uniform 16 percent. covery," Undersecretary of Com- Home improvement loans were merce Robert Dederick told the dropped to 14.5 percent for those up Joint Economic Committee of Con- to 48 months. gress. Treasury Secretary Donald But he said he saw reason to Regan, chided for his premature believe interest rates would go back forecast early last year that the up. economy would come "roaring The Bank of New York Monday back," told reporters following the announced some news that is as release of the 4 percent GNP prowelcome as further price breaks jection, "If one listens closely, one for gasoline, that interest rates on can almost hear a roar." Interest recovery from evaporating, rate improvements are necessary ment spokesmen said. to sustain the recovery, now boosting the economy at a 4 percent annual rate, government specialists say. The Commerce Department's "flash" projection this week of gross national product based on partial date for the January-Marc- h quarter suggested the nation's economy is growing faster than at any time since the booming first quarter of 1981. But further improvements in interest rates, and at least no worsening, are necessary to keep the govern- most consumer down credit-sensitiv- Regan said he would not be surprised if economic data for March improved on the 4 percent The figure was growth projection. calculated from inflation-adjuste- d totals in 1972 dollars. Economists generally consider GNP growth at annual rates of between 3 percent and 5 percent necessary to shrink unemployment if sustained for more than one quarter. One pessimist on interest rates, economist Michael Evans, advised clients, "Both short and long term interest rates are expected to remain very near present levels . " Save $70-$30- 0 at the I ;j - Simmons O M anniversary sale! Anniversary special .79,95 Reg. 149.95 twin set One of the three men, Dalton Young, right, who have been living on a billboard near Allentown, Pa., was arrested Wednesday. . . Reg. 189.95 full set. Reg. 459.95 queen set . Billboard Contestant Held on Drug Charge Maxi-ped- ic Reg. 199.95 twin set Reg. 249.95 full set - one-on-o- m .109.95 . . . Reg. 599.95 queen set Reg. 799.95 king set n. - .279.95 .379.95 Reg. 669.95 king set One meal per day for three months at ALLENTOWN, Pa. (UPI) of three men living on a billboard McDonald's. "We have no comment at all," ledge since Sept. 20 in an attempt to win a mobile home was arrested said station manager Rick Mussel-ma- Wednesday on drug charges and removed from the ledge. Dalton Young, 22, of Bethlehem, was charged with selling less than an ounce of marijuana to an undercover police officer from his perch 12 feet above the ground, said Whitehall Township Police Chief Frederic Conjour. "We had received some information that things weren't quite right and we had an officer investigate," Conjour said. Young was arraiped before District Justice Edward Ernst and ordered held at Lehigh County Prison in lieu of $2,500 bail. Young was removed from the billboard ledge around 10 a.m., making the contest for the $18,000 mobile home a duel between Michael MacKay, 31, and Ron Kistler, 25. Radio station WSAN, which is sponsoring the contest, confirmed Young was arrested but refused to say whether he will receive the third-plac- e prize of a color television set, one year's free rent in a apartment and a free 119.95 . . . Both MacKay and Kistler said they were inside their tents on the billboard ledge talking on the telephone when Young was arrested and did not see anything. "I didn't hear or see anything," said MacKay. Kistler said that after he got off the telephone, he looked outside and "found out he wasn't here any- .149.95 .379.95 499.95 Anniversary Beautyrest .149.95 Reg. 199.95 twin set. . Reg. 299.95 Reg. 599.95 full set . . . Elegance Reg. 259.95 twin set more." Kistler and MacKay said the . Reg. 309.95 full set Reg. 799.95 queen set contest would continue. "It could still go on for a week, a month or a year," Kistler said. "It hasn't really changed too much. I still have to stay up here longer than Mike." "I have no choice but to stick with it," MacKay said. "If I leave, Ron would win a house." The three men set up housekeeping on the billboard catwalk adjacent to Interstate 22 on Sept. 20, 1982, and recently celebrated their anniversary. Under contest rules, they cannot leave the billboard or have visitors on the ledge. . . Reg. 999.95 king set Superb Reg. 28?.95 twin set Reg. 339.95 full set Reg. 899.95 . . 199.95 .449.95 .649.95 queen set Reg. 799.95 king set . . queen set Reg. 1099.95 king set 99.95 .249.95 .599.95 .799.95 . 1 229.95 .269.95 .649.95 .849.95 Elite six-mon- th Reg. 309.95 twin set Reg. 359.95 full set . . . Reg. 999.95 queen set Reg. 1249.95 king set . .249.95 .299.95 .699.95 .949.95 Furniture: Downtowa Cottonwood and University Mall (713). SL r Pre- season patio NEED furniture WORKING CAPITAL TO GROW savings Our entire stock of new patio furniture is on sale now at savings. Buy now and take delivery when you're ready! Choose from Brown Jordan, Mallin, Meadowcraft, Homecrest. end-of-seas- on We arrange all types of loans for business and professional persons' on your Commercial improved or unProperty paid for, or not. improved v Lawnlite. Woodard and the Wire Co. Shown is just one of the many styles you'll find on sale in our Furniture department now through the end of March at SL Downtown Cottonwood and University Mall (716). Shop I V SCOTT FARNSWORTH In NEVADA UTAH IDAHO weekdays 10-- Saturday 10-Closed Sunday. 9. ) J Mnsger Where money gets down to business! Helping to finance growth since 1953 212 SOUTH STATE ST.OREM, UTAH 225-81- 66 O EVE 6. |
