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Provo 20-T- HE Monday November 20 1978 Nation's Home Builders Brace For Sharp Cutbacks Next Year - WASHINGTON (UPIi Although government figures show housing construction remained strong in October builders are bracing for a sharp cutback in 1979 because of soaring interest rates on secutive month housing starts have been above the 2 million mark, a level considered healthy by economists However, building permits, an indication of future housing construction, fell 2 9 percent, the department said In another development Friday, the government reported the personal income of Americans rose by a strong 2 percent in October the largest gain since The figures were considered an encouraging signal that consumer spending probably will not mortgages The Commerce Department reported that new construction of homes was at an annual rate of 2 08 million units in October That was the eighth con- - 1 U.S., Chinese decline soon Housing starts are an important indicator of where the nation s economy is heading On Nov President Carter and the Federal Reserve Board unveiled a package of measures to rescue the sagging dollar, including a steep boost in Slate Talks On Satellites 1 - WASHINGTON I'JPl) American and Chinese officials meet later this month for exploratory talks on China's interest in buying and using U.S com- interest rates Most experts believe that mortgage interest rates will hit 11 percent, severely limiting the amount of funds available for loan by financial institu- munications satellites The State Department reported that the talks will be held in Washington tions Mortgage rates currently are above 10 percent in most sections of the nation, and up until now. buyers had ignored climbing rates and bought homes beginning Nov 28 The Chinese delegadirection will be led by Jen Hsin-mitor of China s Space Technology Research Institute Pr1 anyway because they considered housing the best hedge against inflation But the new round of interest rate hikes ' represents the straw that finally did do in that camel as far as housing is one government analyst concerned, said Michael Sumichrast. chief economist for lite National Association of Home Builders, said the first effects of the interest rates on construction will show Some of our builders plan to up soon cut back by 20 to 40 percent next year he said The Commerce Department s personal income report showed the October performance was the best since the 13 percent increase of July. Income increased at an annual rate of $21 3 billion, following gains of $12 9 billion in September and $11 3 billion in HSv "fl BTjtv. P5h HMHl I jji hH mpTTIM T" f -- HHl w Mm iViTISbM hhKV h1 hh ht ' August One reason for the good showing last declined month was unemployment from 6 percent in September to 5 8 percent meaning that 325.000 people lound jobs and were paid Another factor, the department said, was the government's 5 5 percent pay increase for federal workers that accounted for $2 3 billion of last month's - "pipppfi y CUEBALL' KELLY sights a shot on the antique pool table which is part of the "Pool Hustler" a $50,000 mobile billiards machine shown in New York's Coliseum at the 17th annual National Hot Rod, Van and increase - IPBBMhhhW - Custom Car Snow. Owned and built by Steve Tansy Enterprises of Tipton, Ind., a driver changes gears with a pool ball gearshift in the forward section. 1 PI Telephoto ) Somoza's Troops Accused WASHINGTON (UPIl Organization of American States study An the says group Nicaraguan people are fed up with President Anastasio Somoza and want the creation of a democratic government in the strife-tor- n country. The OAS' Human Rights Commission ac- cused Somoza's National Guard of "grave, persistent and widespread" atrocities in fighting against guerrillas. The commission said 7,500-memb- San-dinis- Guard the National such in engaged rights violations as "indiscriminate bombing" civilians, "mass of ex- ecutions" and torturing prisoners by pulling out fingernails. The panel said the abuses have led to "the obvious birth among the Nicaraguan people of an intense, widespread sentiment in favor of the establishment of a system of government that j human guarantees rights." The commission made the charges Friday night in an report on its k investigation into charges of military atrocities in Nicaragua two-wee- after and during September's civil strife. At the same time, the Nicaraguan government issued a statement accusg guerriling the left-win- las of being "bloody assassins" and providing a series of gruesome photos of what were described as Sandinista terrorist acts. The commission sent six members on a tour of a dozen prisons in Nicaragua last month after the United States called for an OAS investigation into news reports of human rights HIH hVhVhVhVhe''hVhYJ -- Hi HI -- A IsHui I II "IP HH B HI HI HI HI HrB wJ H hVVJt L. H HHHHHHHHhI HhI HHhIhHHH HHHHHHHHHHHHHHHHHftHHH I HHHHHHHHHHHHHHHHftHHH HHHHkaHH violations by the Somoza regime. Diplomatic observers said the United States, which has launched a worldwide campaign rights abuses, may be forced into taking a public stand against the Somoza regime in the face of the OAS atrocity-findingagainst s "We're studying the report." a State Department spokesman said Saturday. "We don't have anything to say now But we may have a comment next week after we've studied it " The commission ended the report by saying it "has arrived at the co- nclusion that the Nicaraguan government has engaged in a grave, persistent and widespread manner" in an assortment of rights violations. "Numerous persons, including youngsters and children, were killed summarily in mass executions for the sole reason of living in districts or villages where members of the Sandinista Liberation Front were active," it said The report said the National Guard "engaged in indiscriminate bombing of populated areas without evacuating the civilian population, causing numerous deaths of noncombatants." jHhShhW iii'Si mmwmmm, 'iJ..-jlt3Si- Getting off the ground takes more than a 737 takes an airport, with ticket agents, baggage attendants, maintenance crews, air traffic controllers. .the list goes on and on. Keeping all those It people comfortable, as well as the travelers they serve, is a big job. takes a lot of energy. That's why the expanding Salt Lake City International Airport uses a natural gas heating and cooling system. It's the most efficient use of nature's direct energy source And it's the most economical energy available for keeping 10,000 people comfortable everyday. That means less more money saved. energy wasted In this energy rich area, there is a reliable supply of natural gas for years to come. Using it MOUNTAIN FUEL wisely will keep it that way. The Salt Lake City International Airport for nearly Fifty Year Serving People People it's To them is doing that. just good business. It . . . . HI HHHHMm |
