Show If The Salina Hunters Missing Target Causes Many Repairs Realtors Petition For Mortgage Money The Utah Association of Realtors has launched a campaign to mobilize the growing number of property owners sellers and buyers and citizens concerned with today’s mortgage money crisis This action by the Utah Association of Realtors is part of a nationwide program announced October 11 1973 by the National Association of Realtors in Chicago The program will involve some 500000 men and women who will be collecting signatures on petitions to be presented to U S Senators and Representatives in Washington during the week of November 11 focusing attention on the existing mortgage money situation These visits to legislators will be a major feature of the Realtor's National Convention which will be held in the nation’s capital November 11 through 15 Many members of the Utah Association of Realtors will participate in the presentation of petitions from citizens of Utah to Senators Bennett and Moss and Representatives Gunn Kay and Wayne Owens “People in our community face an unprecedented problem” stated Realtor H Wallace State President "The tight mortgage money market means less money to lend higher down payments required and higher interest This crisis rates charges hurts everyone — the seller who can’t get a fair price for his home the construction tradesman who is out of work the apartment dweller who can’t buy a home the transferee who must leave a family behind because he can’t sell his present home or buy a new one the persons who can’t take advantage of new job opportunities in other cities and many others the situation "Fortunately in Utah is not quite that bad Realtors are still aiding people here in finding ways tc buy and sell property but the situation is tight and likely to get tighter unless the people speak out and demand action by Congress” The Utah Association of Realtors is circulating petitions among property owners and other voters urging Congress totakeimmediateaction to Implement a reasonable and national mortgage money program WHAT DOES THE NATIONAL ASSOCIATION OF REALTORS RECOMMEND? The National Association of Realtors has made major recommendations to Congress in behalf of the 80 million property owners buyers and sellers and concerned citizens of tkis country It is these recommendations for which the Realtor Action Program has been launced to generate widespread public support for Congressional action the recommenBasically dations would generate creased savings in mortgage lending institutions through tax credits to depositors and controls designed to promote competitive interest rates Also the National Association of Realtors seeks Federal action to encourage investments in mortgages by those institutions which do not now invest substantial portions of their assets in housing The National Association of Realtors is also asking Congress to urge the Federal Reserve Board to employ a dual prime rate — with consideration given to mortgage lenders — in its effor’s to control credit Through special funding the Congress would also be able to provide lenders with inexhousing pensive funds THE PROGLEM The Federal Reserve Board actions to restrict credit and — an promote investments attempt to control the nation’s economy — have been applied uniformly with disastrous effects on property owners buyers and sellers and mortgage lending institutions Among these actions are new regulations lhat permit institutions to pay up to 11 percent on of as little as $1000 savings for deposits The Realtor Action Program seeks to foe us the attention of Congress on the resulting mortgage money crisis created by the Federal Reserve Board action Even if Congress acts though the Federal Reserve Board exists as an independent agency of the Executive Branch Therefore it must be impressed that actions by Congress are based on nationwide public concern WHERE WE STAND TODAY A massive outflow of money — approximately $500 million a month - formerly deposited in savings and loan institutions is now taking place Savings and loan i with standing long term mortgage commitments to property buyers at 5 to 7 percent per year have been unable to increase interest rates paid to savers sufficiently to compete with other investment opportunities What money remains on hand for home mortgages is generally limited to present savings customers who are able to make down payments of 20 to 25 percent and who are willing to make longterm mortgage commitments at annual rates of interest between 9 and 10 percent To protect savers savings and loan institutions have had to add fees for services to new mortgage commitments that range from 15 to 25 percent of the amount And this is of the mortgage a conservative estimate Even by taking these steps many major savings and loan institutions have not been able to avoid suspending their mortgage lending operations altogether In the past savings and loan institutions have provided about 90 percent of the mortgages for home financing in this country The present mortgage money crunch extends to such federally based home loan Not systems as VA and FHA only have these programs failed to receivt increased funding to ameliorate the mortgage money program existing funds have not been extended by Congressional action The National Association of Realtors repjrts home sales during May June ape - just before tie July 1973 mortgage money crunch hit up nearly 8 percent over the corresponding 1972 period During August this rate of sales growth fell sharply below August 1972 figures — to 17 percent — reflecting an initial drop signaling real trouble for the housing economy in the weeks ahead The U S Census Bureau reports starts of privately owned housing units skidded to 205 million (seasonally adjusted) in August compared to 218 million in July and 242 million in gust 1972 The August 1973 figure is the lowest in almost two years REALTOR ACTION PROGRAM Doves pheasants and deer head for the hills during the And so do hunting season Mountain Bell cable repairmen - to replace aerial cable and insulators shot up by hunters And while a hunter may miss his bird or animal he often hits telephone cable line for leaving a "dead” scores of families Mountain Bell repairmen of 30 about sections replace telephone cable and open wire in Sanpete and Sevier Counties each year during the hunting season 22 caliber Shotgun pellets bullets and high power rifle lead can easily pierce the heavy plastic sheathing and aluminum undercoating of cable tearing telephone through copper transmission wires inside Even a near miss that just cuts the plastic protective sheathing can interrupt teleRain and snow phone service get into the cable shorting out several customer lines at a time Damage often occurs in areas that are inaccessible to vehicles in winter weather It sometimes takes days for repair crews to locate the da The present mortgage money crunch affects every property owner buyer and seller in this nation Let's start with a couple of examples So you want to buy a home You’ve saved $4000 in the two years for your first home In 1971 when you began this saving? and home buying plan based on that $4000 down payment your income and credit standing you could have fully expected to buy a$40000 home with mortgage money borrowed at 725 to 775 percent per year Today thp same $4000 down will only buy you a $20000 home financed at 95 to 10 percent per year — if you can find mortgage money! Your buying power has been cut in half Your cost for mortgage money has increased substantially last If you wait and continue to save — If the mortgage money market remains unchanged — you will be able to buy that $40000 home you wanted in 1971 in 1975 So you want to sell your home Tow years ago you had a buyer with $4000 down willing and able to pay you $40 000 with a $36000 mortgage Today that same buyer is looking at $20000 homes To attract him you have to reduce the price of your home and help him by providing mortgage financing yourself Sure you’ll be making money on the mortgage as he makes his monthly payments — it may even pay for the risk involved — but you too need your own cash to come up with a hefty down payment for your own new home maged lines by snow cat A broken orcracked insulator allows the open wire to touch the pole causing buzzing and poor voice transmission of telephone conversations Mountain Bell officials say they will prosecute offenders in an effort to protect the telephone service of customers The telephone company is asking people to report fenders to the nearest Mountain Bell office or to law forcement people The willful injury or struction of transmission lines is a violation of Utah Statutes punishable by a fine of upto$299 andor six months in jail Announces Nurse Corps The United States Army Nurse Corps has recently nounced intentions to expand According to Delbert L Redd the Army’s representative in this area the Army Nurse Corps is seeking another 300 young men and women by the end of the year which The Nurse Corps celebrated its 72nd anniversary in February presently has more than 4000 members almost 1000 of whom are men To join the Army Nurse members have traCorps ditionally traveled one of several routes Some apply after graduating from an approved Baccalaureate program Others have participated in the Army’s Student Nurse program which subsidizes up to 24 months of undergraduate work while providing a monthly salary in excess of $350 Another avenue is the Registered Nurse Student program whichawardsacommis-sioto young men and women who already have an RN and who want to work toward their bachelor’s and master’s deThis program offers grees up to 24 months subsidy For more information contact Delbert L Redd at (collecti cr write to him at 118 North Main St Richfield Utah 84701 Sun - The Gunnison Valley News Merit Badge Pow Wow Announced The Utah National Parks Council Brigham Young University Department of Special Courses and Conferences and Utah Technical College have announced plans and dates for the 1973 Merit Badge Pow More than 1800 Scouts Wow are expected to attend instructional classes to be held on Brigham Young University and Utah Technical College campuses for three Saturday sessions starting November 3 Each Saturday at 9 AM the sessions will begin Each participating Scout will attend any three of 49 merit badge classes A variety ofclasses ranging from Animal Industry to woodwork will be taught this year at the Pow Wow Several new merit badges will be fered Rulon Dean Skinner has been appointed as director of this year’s Pow Wow program Mr Skinner is a member of the Brigham Young University youth leadership faculty and a m ember of the professional training faculty of the national staff of the Boy Scouts of America He has served as assistant scout executive of the Utah National Parks Council for eight years He Is the author of "That Scouting Spirit” and a book of true Scouting experiences "The 1973 Merit Badge Pow Wow is organized to give all Scouts qualified instruction in preparing them to complete merit badge requirements der the direction of counselors in their respective districts or they can complete the merit badge at the Pow Wow” said Skinner Each Scout must register for three merit badge classes and attend them for the three Saturdays Registration fee is $4 which Includes special assemblies class Instruction a fully embroidered Pow Wow and patch special awards Further information may be obtained by writing: Brigham Young University Boy Scout Merit Badge Pow Wow Special Courses and Conferences 242 Herald R Clark Building Provo - October Page 5 Federtl-SUt- e Lhretfck (Met rsvjj Producer Selina Auction Salable at auction 1010 compared to700 last week and 1490 a year ago Good attendance Local and outside buyers well Broad demand represented for feeder cattle and quality best of season Feeder steers and heifers higher instances $150 higher on weights over 600 lbs Calves steady Instances 50? higher Slaughter cows and bulls steady Slaughter steers higher Slaughter heifers steady Receipts 70 feeder cattle FEEDER STEERS Choice lbs Choice 50 packlbs $63 age 320 lbs gaunt $7000 Choice 0 lbs Prime package 451 lbs $6375 Choice lbs package 526 lbs mostly Prime $5875 Choice 0 lbs 0 Choice lbs Few Good Packlbs 0 age mostly Good 360 lb $5375 Mostly Good lb Holst eins 5 Standard and Good lbs FEEDER HEIFERS Choice 0 lbs lbs Couple packages 415 lbs Prime $5675 Choice lbs $45 5070 Choice 5 lbs Choice SLAUGHTER COWS: Commercial and Utility $ Cutter Few 0 BULLS: Yield lbs SLAUGHTER Grades 20 SLAUGHTER Choice STEERS: lbs 0 SLAUGHTER HEIFERS: 0 lbs Choice Begin VJith Wedding Invitations From ¥ ALLEY PRINTING Publishers Of The Gunnison Valley News The Salina Sun Many Beautiful Colors And Styles To Choose From Invitations As Low As 6 Per 10® Napkins Scrolls Thank You Cards Seals for fold over Invitations for quality you're looking or printing for either personal look no further! use business We have knowledgable craftsthe latest equipment to men handle any assignment regardless of how big or how smoll! & If mimTirrouuMij i ALSO PHOTO TYPOGRAPHY :iTxraiTxTirxmjmiiimmTimTTxiLiixn mummsu |