The Alto Herald (Alto, Tex.), No. 16, Ed. 1 Thursday, September 15, 1966 Page: 2 of 8
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THE ALTO HERALD. ALTO. TEXAS. SEPTEMBER !5. i966
THE ALTO HERALD
A Leader In South Cherokee County Stnce 1898
Mrs. F. L. Weimar and Frank Ed Wetmar, Owners
Published every Thursday by The Alto Herald, P. O. Box 637,
Phone 8-4141. Entered as second class matter in 1896 at the
Post Office in Alto, Cherokee County, Texas, under act «f Con-
gressof March 3, 1887.
Second Class Postage Paid at Alto, Texas 75925
Any erroneous reftection upon the character, standing or reputa-
tion of any person, firm or corporation which may appear in the
columns of the Herald wi!l be gladly corrected upon its being
brought to the attention of the Pubtishers.
SUBSCRIPTION RATE:
In Cherokee County, per year $3.00
OutsideCherokeeCounty, per year $4.00
In Cherokee County, six months $1.50
Outside Cherokee County, six months $2.00
SATURDAY S!T-DOWN
YARBOMUGH
REPORTS
Dear Fellow Texan:
Our country is now enjoying a
booming economy. Across the na-
tion today there is vigorous bus-
iness activity and an almost full
employment situation.
Most Americans arc making,
saving and spending more money
than ever before, but many citi-
zens have found that they arc
unable to build or buy a home
because of the "tight money."
Recently it's become almost
impossible to obtain new money,
orbuildahomo as the interest
rates have climbed higher and
higher.
Money is like some commodi-
ties in our free enterprise system.
When the demand for money
goes up—for loans—the price of
loans goes up with it as well—
the cost of borrowing it. And
that's true even though money is
the medium of exchange and
not a commodity itself.
But when money is in short
supply to serve the needs of our
vastly expanding industry, the
problem of obtaining it at a
reasonable price becomes almost
insuperable. Beeausc of the com-
petition today for the savings
dollar, the savings and loan asso-
ciations, which do most of the
lending for home building in
America, have had less money
for lending for the home builder.
When they do make a loan, it is
for higher and higher interest
rates. As a result, the building
of new homes has fallen off.
The June figures for now
houses started in this country,
show that there are 18% less
than there were a year ago, and
in Texas the new houses started'
in June were 13% below the
vou
-A/AMY 10 START
APmt)6E GAME?
^7=
BROWN WAS
THE BAt-*--
May figures, and 17% beiow the
figure for a year ago.
This problem is caused by the
shortage of mortgage credit.
It'snotbecauseourpeopiedon't
want homes; we have the desire
and need for homes for young
married coupies and expanding
families. A heaithy economy
creates a strong demand for
credit. That's a good thing pro-
viding it's not out of hand. But
money credit is out of hand to-
day, and the result is that peo-
pic can't get money to build or
buy a home.
That's why 1 spoke on the fioor
of the Senate in favor of the biil
just passed by this Congress that
wouid push $4.76 biliion in fed-
erai money in the home build-
ing industry. This money was to
speed up the fiow of credit for
FHA and VA insured home con-
struction. This wiii help many
more Americans and Texans to
buiid or buy their own homes.
This money is to make sure
that there is more credit in the
home buiiding industry to keep
it going, so that the jobs wiii not
be iost by the workers, and so
that our home buiiders wiii not
be thrown out of their business,
and so that the sales of our ap-
pliances that go in the homes
will not dry up.
High interest rates may cause
the greatest harm to the small
home owner—to the man who has
been faithfully paying his month-
ly installments on his mortgage
down through the years and has
it paid off, some to where he has
an equity in the home.
Now if for some reason this
home owner isforeed to sell his
home or to refinance his loan,
then the tight interest
rates eat up Ms home invest-
ment. Most or all of his equity
will vanish.
For example, if the interest
rates have gone up from 51 to
8' f on a home loan of $10,000,
that means an increase of 60';
in the interest rate. And the home
owner finds that he has to cut
the price because the newbuyer
must pay more for the loan.
Fast action is needed to halt
this spiral. We took one action
inhomebuilding.Thatis not
enough. More must be done. I
agree with what our former
President Harry Truman said the
other day, whenhesnid if these
high interest rates aren't stop-
ped, it would slo^ nut* economy
down to whore we would have
a recession. It hasn't happened
yet, but these high interest rates
must be controlled.
NOTICE
My business will be open until
inoon on Sunday for your con-
I venience.
Martin's Shopping Center
Martin D. Thomas.
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And this year, for the 33rd consecutive year, Humb!e OH
& Refining Company wiit be broadcasting Southwest Confer-
ence FootbaH on your favorite radio station.
For a complete schedule of at! Conference
games, drop by your Enco dealer's
and ask for your free copy.
HUMBLE
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ARTHRiT!S-RHEUMAT)SM
Do claims and double talk malt!;
you doubt you tan get any relief
fromarthritkandrheumaticpains^
G<.-t!()()Sl^XHACK:ah!cts,,f30
SlAXHACKpowdcrs. use as direct-
ed. If you do not get rdicf. return the
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Salisbury, N. C
MOUSE PAMT
because we know
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WASHINGTON
MEWSLETTH)
By Wright Patman
KtKAL UO! S!KG LOANS Be-
cause Of tht- current serious and
crippling ''Eh' money, high inter-
cut situation, it is timeiy to rc-
siew tht insured ioan housing pro-
mani of the Farmers Home Ad-
ministration which might now be
„n,<ttn ipful to farmers, residents
in rural areas, and those who live
inruralcommunitieswithapopu-
lation of 5.500 or less. The homes
providt d by FHA must be modest
in sixc, design and cost; the United
States average is around 510,000
foi about i200 square feet of living
space. The maximum period of
repayment is 33 years. Hate of
interest is 5' ; in most cases. There
are other factors involved of
course, but if you are interested
in complete details contact your
FHA County Supervisor or write
to mc for a free information
pamphlet. For the- current fiscal
year. FHA has been given a loan
insurance authorization of about
$400 miiiion. Last fiscal year,
residents of the First Congress-
ional District of Texas received
392 loans insured by the Farmers
Home Administration for $1.6tni}-
lion.
UNDEREMPLOYMENT In the
East Texas umber industry lias
grown steadily over the last 20
years. Of t4t)7 sawmills in East
Texas in 1046. only 205 arc oper-
ating today. Skilled workers are
therefore available in ail the
timber - growing counties of the
First Congressional District. How-
ever, the various wood-consuming
industries arc sharply increasing
their requirements for wood pro-
ducts and this valuable East Tex-
as resource with proper develop-
ment should remedy this local
underemployment situation and
aiso benefit landowners and all
residents of the area.
STAY IN SCHOOL. It is recog-
nized that today's high salaries
and job opportunities may tempt
youngsters to leave school and
become self-supporting as soon as
possible. But the short range gains
are not to be compared with the
long range potential of at least a
highschoolcducation.
ATTENTION!
The Alto Quarterback Club will
mcoi every Monday night begin-
inK next Monday night , September
12. All men interested in sports
are urged to attend this meeting
and become a member if you have
not already become a member.
You can get your Yellow Jacket
Decal at the Southwestern Electric
Service Office or from a member
of the Quarterback Club.
CtTAHON BY PtB)]^
THE STATE OF TLX^
TO: LEONARD n, Mo(^
GREETING:
You are commands
by filing a written ^ ^
plaintiff's petition a-
o'clock A.M. of the
after the expiratiun
from the date of
Citation, the,;,:,
thc3rdday„f0ct„J."
1966. at or before IS ^
M.. before the H<,n„ra'. /^
Court of Chcroltc.
theCourtHou.s'inR^l;
Said plaintiff's
filed on the 11th day J
1966.
The file number of t-;<
being No. 23236.
The names of the
said suit arc
Peggy S. Moore as p;..
and Leonard R
Defendant.
The nature of said mtb
substantiate as foil;,'. ,.
Being a suit for oivfttJ
division of community p;..J
If this Citation ]s Jj
within 90 days after the ^
its issuance, it shall h ...!
unserved.
Issued this the nth j;,
AugustA. D.. 1966.
Given under myhandttj)
of said Court, at nffirs .
Texas, this the 17th iiit
AugustA. D.,1966.
W. T. Rmrf.'t,
District Cuu;: r-m
County, Texr.!.
The Easiest Wa;
to
Lovelier Room
SUPER
WOMEN PAST 2!
WtTH BLADDER tRR)TAT!0N
Suffer Many Troub!es
After 21, common Kidney or Bladder
irntaUons aHcct twice as many women
as men and may make you tense and
nervous from too frequent, burning or
ncrnng urination both day and night,
hccondanty, you may lose sleep and
suffer from Headaches, Backache and
^pressed. In such irri-
!at<on,CYMHX usually brings fast,
rciaxmn comfort by curbing irritating
germs tn strong, acid urine and by anal-
gcnc pam relief. Get CYSTHX at drug-
Usts. See how fast it can help you.
GOES ON EAStEH
COVERS BETTER,
SPATTERS LESS
Compare it with any**!!
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The Alto Herald (Alto, Tex.), No. 16, Ed. 1 Thursday, September 15, 1966, newspaper, September 15, 1966; Alto, Texas. (https://texashistory.unt.edu/ark:/67531/metapth215949/m1/2/: accessed May 13, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Stella Hill Memorial Library.