The Key West Citizen Newspaper, May 12, 1952, Page 8

Pages® THE KEY WEST CITIZEN Down Payments On Houses May Ee Lowered Final Decision Is Expected Within Next Few Weeks By CHARLES F. BARRETT WASHINGTON (# — Sentiment is growing in some government circles for an easing of down pay- ment requirements on houses in the medium and upper price brack- ets, which have not been selling too well. Several members of the Federal Reserve Board, which administers | Regulation X over housing credit, favor the move, it was learned today. The board is surveying the pros- pects and will talk things over with Raymond Foley, housing and | home finance administrator, who would have to concur. The housing agency was reported cooler toward | the proposal than some reserve board members. A final decision is expected in | the next few weeks. Regulation X now requires a sliding scale of down payments starting at $1,550 for a conventional loan on an $8,000 house and zoom- ing to 50 per cent down on all houses above $24,500. Loans guaranteed by the govern- ment for veterans carry smaller | down payments, from $750 for an | $8,000 house to 45 per cent for houses above $24,500. Some board members think the present scale has some lumps in | it, with down payments increasing out of proportion to the price on homes of $15,000 and above. These members say one-third down would be an adequate re- quiremert for the highest - priced homes. Starting downward from this point, they would install a | ec and more even scale of payment requirements until they approached the present scale at about the $15,000 class. | Under the present regulation, for @n $18,000 house, on conventional jcoa and Titusvile and started an Governor's | Race Today By The Associated Press Dan McCarty and Brailey Od- ham, who opened their runoff cam- Ppaigns for governor with statewide radio broadcasts Saturday night, began stumping the state again today. McCarty planned appearances at Fort Myers and Punta Gorda, Ar- cadia and Sarasota today and at Bradenton tonight. Odham talked at Melbourne, Co- eight-hour talkathon at New Smyr- na Beach at noon. He will continue from DeLand and faytona Beach. In a statement Sunday, Odham invited McCarty to appear with him on a radio program “to ask me any questions you wish and to let our fellow citizens ask both of us questions about our stands on vital issues.” In his Saturday night talk, Me- Carty had charged that Odham did not answer all the questions sent to him during his talkathons. He said many questions which Odham “cannot afford to answer have not been allowed to reach him by his talkathon crew.” In reply, Odnam said he had an- swered ‘‘as many questions as pos- sible, as they came and without regard to whom they came from.” He then invited McCarty to ap- pear with him and ask questions himself. During the first primary cam- paign, Odham had proposed that McCarty stump the state with him in the runoff to save money. Mc- Carty responded Saturday by say- ing “I am not interested in taking part in any vaudeville act.” Coed Is Found LARAMIE, Wyo. (®—A Univer- sity of Wyoming coed, apparently left for dead by a brutal assailant, was found unconscious Sunday on a lenely prairie north of here. The girl, Virginia Anderson, 24, Mauston, Wis., is in critical condi- tion from a head injury, shock and exposure. She was still uncon- scious today. Sheriff Ted Burnstad theorized she was the victim of an attempted loans the down payment jumps to $6,700 and on GI loans to $5,800. | Thus a house costing $10,000 more | than the $8,000 elass carries more | than half of the difference —more | than $5,000 — included in the down | payment. | The housing market as a whole is beaming, but surveys by the re- | serve board show that sales of houses costing $15,000 and more | are relatively slow, rape but said his office “is with- out a clue or lead.” She had been | missing since late Friday, ANYTHING CONCERNING 5 ~ 18704875 THE be Three Flights Daily TO HAVANA Leave Arrive Flight Key West Havana 952 10:15 A.M. 11:00 A.M. 954 1:45 P.M. 2:30 P.M, 956 4:00 P.M. 4:45 P.M. TO KEY WEST Leave Flight Havana 951 9:00 A.M. 953 12:30 P.M. 1:15 P.M. 955 3:00 P.M. 3:45 P.M. Phones: 162 - 448 - 1106 AEROVIAS “Q'S. A. | ROGELIO GOMEZ, Agent Fly tc Havana Also For Reservation anywhere in the United States on Scheduled Airlines Call at #21 Duval St Next to Margaret |! Ann Store Airport: 483 | seem te have left home without any billfeld—and require a small loan te tide me ewer...” (oS gx © It's easy to remember ‘ . lends money to cover emergencies cCiry. OF KEY 524 SUTHARD $1, that City Lean Co, WEST Monday, May 12, 1952) Lt, Riley Reports ee wavy rnoto Oificial U. 5. | SUPERBRAND COLORED 14's HOLSUM BAKED GOODS Silver Loaf Cake ea. 35c Golden Dessert Cups 6 for 25c Raspberry Jelly Roll ea. 35c Pineapple Coffee Cake ea. 35c Iced Cinnamon Rolls 6 for 20c New Store Old Store 1835 Flagler 727 Duval St. || Dole’s Fancy PINEAPPI JUICE HUNT'S G. B. Cream St. or Wh. Kern. 46-0Oz. Cans A VETERAN OF TWO WARS, Lieutenant Jack Riley, USN, re- cently reported for duty as a staff officer at the U.S. Fleet Sonar School, Key West. Lt. Riley entered the Navy as an Aviation Cadet in August, 1943. He received his wings and commission, May 15, 1945, taking Operational Training at Jacksonville and Banana River, Florida. He was separated from the Naval Service in March, 1946, but he re-entered in February, 1947. His first assignment in peacetime was with Patrol Squadron AM-1 which operated in the Alaska Area. Then he was sent to the University of South- ern California where he received a B.S. degree in June, 1948. When the Korean conflict started, Lt, Riley was serving in Patrol Squadron VP-1. The squadron was patrolling the Chinese-Formosan coasts and for his participation he earned the Air Medal with one gold star. Returning to the states, he was sent to several schools on the east and west coasts, finally ordered to his present assign- ment as an anti-submarine warfare instructor, Lt. Riley is residing in Key West with his wife Marjorie and his daughter Colleen, three and one-half years old. He is the son of Mrs. Helena R. Riley, of 561 Washington street, Wood- stock, Illinois, at POPULAR PRICES MIAMI Located in the Heart of the City azasonastz ROOMS s:"neseavations Hotel Hotel Hotel 132 E Flagler St. 226 N.E. Ist Ave, 229 NE. Ist Ave. 102 Rooms 100 Rooms 80 Elevator Elevator Rooms Solarium Heated Elevator 3 FROM UNION BUS STATION 423 SIMONTON ST. HEARING AID Developments! 1 Exclusive New 2 ‘Ingenious —__ CERAMIC PERMAPHONE “RESERVE BATTERY n Patented! Retains excep- SWITCH tional sensitivity eveo So helpful . . . so handy woder extreme weather Avoid embarrassment and conditions. Performs eff- iaconvenience when “A cieatly where others often battery suddenly bec« exhausted and fails. the fingertip switch— reserve battery io takes over! fail. Resists deterioration; F saves upkeep costs. It's the biggest Hearing Aid news in years! Ne other hearing aid at any price gives you all the famous features found ia Zenith instruments “ROYAL” AND "SUPER-ROYAL” EN/TH WEARING AIDS ‘ Bor Mild or Severe Impairments able ot Modercte Ex * KEYS OPTICAL SERVICE BATTERIES FOR AL oy se 3-Lb. Tin 75¢ ” CORN NO. 300 CANS 2m 25¢ KEEBLER Saltines IN THE 4-PACK LLB. PKG. 27c 15 10 25 e | Margarine Ab, Ct. EGRET CUT —— NO. 303 CAN Green Beans CRACK N‘ GOOD Campbell’s TOMATO SOUP CHIFFON = == 19¢ |=" AS A SOUP... SAUCE... INGREDIENT’ MILK »: 2 = 40¢ CLAPP'S BABY FOODS Strained 3 for 25 choot 2 for 29¢ MAZOLA Cooking Salad Oil 9c * Sc B&eM. over betes BEANS Get Them In The 27 - OZ. “POT” ARGO Bartlett PEARS 2 PT. CAN ” BALLARD’S OBELISK PLAIN OR S. RISING FLOUR 5Ac- 31% ARMOUR'S SHORTENING ARMIX GATOR ROACH HIVES 15c LGE MODESS 12 - CT. PKGS T1c 3lc SM 5 - LBS.