SaleirifQp
4D-(Sec III) Statesman,
Sun., April 21, W
j -
Many House
Sellers Take
'Discounts'
Br WILLIAM FERRIS
NEW YOORK. April W-YouH
Itsnd a good chine of running
Into much discussed gimmick
la homo financing if you buy or
sell a house this sprint.
The gimmick is called "dis
count'' It applies ts loans by pri
vate leanders and guaranteed by
the Federal Housing Administra
tion or Veterans Administration
It doesat apjry to conventional
loans. These are loans made by
financial institutions without any
guarantee from the government
asainst loss. -
The effect of Dm discount is to
give the seller less (or the bouse
than the sales price indicates he's
letting.
This discount is now running
through testimony going on be
fore a Senate Housing subcom
mittee. Witness after . witness
mentions R. What Is it?. -You
sell a house for $20,000
The buyer gets sn FHA guaran
teed loan. The loan amounts to
v ier ccn w un wic fm.- w
$K,000.
. Heoe. tor $1MM
So far so good. But the lending
agency says, "We'D make that
fit. 000 loan only if the seller will
pay ns a specific sum of cash."
, This sum varies throughout the
country, depending upon how tight
money is at any moment in any-
given area. This payment is called
the discount. . -. . -
If the discount is t per cent,
the seller pays the lending agency
1280 (discounting the IJt.000 loaa
by I per cent). la effect the
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bouse is being sold for ftt.MO In-1 1st New York and New England
stead of the stated sales price of
S2S.O0O.- . . . v
If the discount Is 4 per cent.
the seller pays the lending agency
$640. In effete the bouse is being
sold at lls.Ses,
The Federal Housing Adminis
tration wont provide figures
current discounts, claiming the
situation has not settled down
since the Interest rste on FHA
insured mortgages was boosted
from 4MS I per cent Dec. 4.
But the FHA figures for Decem
ber, latest available, show a na
tional average discount of 4 per
cent ,
the discount raa less less thin I
per cent, in the Southeast almost
J pet cent, in the Midwest and
Southwest more than 4 per cent
and on the Pacific Coast 4 per
cent,
The seller not the buyer
must pay the discount. As FHA
spokesman admits the discount
defeats the purpose of the fixed-
interest policy, but adds, "We
recognise it as a fact of life. It
is part of the cost of obtaining
money,
The reason for the discount Is
that 'the' demand for money e
ceeds the supply, end this situs
uon isn t getting any better,
Shop Penney's Now! ! Cash in on Big, Big Sayings
During Our After-Easter Qear-Aways! Many :
Items.Now Repriced! Be Her Early!
n
SAUM, OREGON
. STORE HOURS:
Mondays and Fridays
9:30 a.m. to 9:00 p.m.
Other Days
9:30 a.m. to 5:30 p.m.
ill.
mm.
Hand
100
Washable
NYLON
SHORT COATS
- 1 r ; ? DR.SEMIER
( v REMINDS
:;. YOU!
assasjssMsws1
. Don't Lt
1957" Go By
Without
Viiiting-Your
Dtntiit!
O Hire you had that dental checlt-up you promised your
elf thia year? If not, RIGHT NOW is the time to eon-'
nit your Dentist. Be guided by his advice for the pro
. tection-wf yonr health, and the health of your family . . .
. against dangerous Dental Decay that leads to serious, -costly
illness. '
Remember ... DR. SEMLER
Gives You AU the Credit You Need
Keep Tour Cash for necessary shopping . , . but don't put off
needed dental care. At Dr. Sender's your work is completed
without delay . , , pay later, in Small Monthly .Amounts, on your
own reasonable Credit Terms. "
PRICE QUOTED IN ADVANCE
DENTAL PLATES
NO CASH DOWN
0 2 YEARS or Longer TO PAY
On approval of yonr Credit at Dr. SemlerV, yen can uke till 1959
to pay for the Dental Plates you art RIGHT NOV. Convenient
Termi quickly arranged , i no delay or red tape, no bank or
finance company to deal with.
You Don't Need An Appointment
TeVrs always welcome at Dr. Semler's for ramMtfe'ColfrioV'
r.fJl'J Dct,,iJ vrk ONE-DAV SERVICE ON NEW DENTALj
rLATES, U m extrsetioa required.
AaefleWssiMWVeiiflsfs shohs I
1 jyni r
iiiij;. i4m:m' fjLj)
Rayon Butciier
Weave Suits
Complc;tcly Washable i. .
. Whe n 8Y vow -. seeo,
value far yewr f ashien dollsrl '
Irt a favored fabric that looks
like linen and machine wash
es in lukewarm wtter.
SECOND FLOOR
).r, I"
1 - Juniors, .
O I Misses Siies
Just swish it through suds
hang it up to drip dry
. . , and it's at fresh and
sparkling as everl Lined In
100nyloiuWhiie,ks)
blue, pink, beige. .. . .
SECOND FLOOR
j i 1 7
! , ..
! ( ,V V I n
H is I
Special! First Quality.
Full-Fasbioned Nylons
Dark scans for drassatle leg
flassoar . . . reswejr's sfeeers
, stave everrtalaf yea waat at
aa lacreellble tow swiee! First-
quality 13-denier, 60-suge ny
: Ions give you sheerness plus
wesr! Sizes 84 to 11, norm .
length.
it,- MAIN FLOOR
2
Fairs
for
I
Rayon Butcher
Weave Dresses
No.1" ,
" lavored spring fabric?
exciting new styles! " '
flower-bright colors!
' machine washable .in
- lukewarm walerl .
DOWNSTAIRS STORE
ctate Ct cormtnciAi, sallu
Wafn-Adolph Bids,
In any lot-give us the ticket for Mm peried yen are having dental service
Girls' Dan River
Dn-Don
Dresses ....
a ii
I to ox v-r
925
t
7 to 14
Dan River eattont ... All Ori-
Don finished to cost you so
little , In time and effort!
Machine wash! Colors can't
escape! Hang dry . . . iron on-'
ly if you're fusser
SECOND IX00B
. sPAm
Woman's Bsttar
Flats Rtducid
Only 2 Pr. '
I Assorted Colors
Broken Sues
DOWNSTAIRS STORE
7PAB
Man'i Sittt-Latch
Drtss Oxfords
' . Only 7s8 Pr.
. some Semi-Dress
Styles . . . Broken Sizes
DOWNSTAIRS STORE
T ONE GROUP
Assortid Rayon -Panab
Xtdiici 1 .
Only 50Ea. X
3S-43-, 64. 63". 72"
In Colors Only
DOWNSTAIRS STORE
ZM ONLY
Mtn's Bttttr
Sport Shirts
288
Only
-Assorted Styles
Broken Sizes . . ,
MAIN FLOOR
5 PAIR
toy's Cabardin
Stab Rtducid
Only
AssortedCoIors . .
Broken Sizes . . . '
Hobnail Js!gn
ClwnilU Sprtads
Only O Esl
Assorted Colors -Twin
Size Only
' MEZZANINE .
Ml ONLY v
Wortn Straw ,
Siwina, Jasktts
Only
Assorted Types . . .
Large Size , . ,
MEZZANINE ,
in pair
Girl's 100 :,-
I Nylon Fonties
2,1
Assorted Styles . .
Almost. All Sizes
SECOND FLOOR ,
IS PAIR St PAIR
.Woman'i High Woman's Mtdium
Hail Pomps - , Hail Pumps '
OnlyPr. - ' 0,5
Patents, Others ' Pstents, Others '
Broken Sizes Broken Sizes ...
'. DOWNSTAIRS STORE . DOWNSTAIRS STORE
' I 10 PAIR yv JM ONLY ',
7rx30" Flotkod Worn.irs Cdtton"" ;
Dacreii Tiors ' Houst Drams
Only, Pr. . . Only 1, ..
Colors Only . : Assorted Styles '"V
Completely Washable , Broken Sizes , .'. ' h
DOWNSTAIRS STORE . DOWNSTAIRS STORE
" M ONLY U PAIR
Womon'r BoMir Flanntl laby 7 f ' (
Handbags Doll Palamas '
50 Plus V, - . . -so,
Only X Tax ' - Only 1 1 s
. , Assorted Styles , , Assorted Styles v -.
and Colors . . .. , Broken Sizes . . j .
MAIN FLOOR MAIN FLOOR ,.
1 J ONLY I I i)NLY
Mib's Battar Man's Bttttr
Tits Rtductd Jacktts Raductd
Only
i. Asertcd 8tyle ., Nylon- Reversibles j-, ..
I MA1N FLOOR MIN FLOOR.
II ONLY N. I - il ONLY
Boy Wool Rayon Bufch.r
Fibrtn Jacktt ; Woavt Tabltcloths ' 4
V on,y 700, ;; 390 4
Assorted Colors., rt Sri7(rSixe.
' r'-AMerU4 Color.. "
I Viuo rnWW TW$,fT MEZZANINE , ., s
- . r r i.i.i t ' ')'
' blWVt.: u only 1' u
Tabltcloths to . , v -. Rayon Butchtr 1 - fl !
Embraidtry , Wiavi Tabltcloths ;
300500 . 4400. : .
?"g,id. 0UBU W-SSd- Site . i, '
MFrrsMiMi' Assorted Colors . , . .
I MEZZANINE MEZZANINE ,
X ONsS GROUP, I 17 PAIR
Sobdi Imprtoi Solingen
1 Ronuiants - ; Scbsors Ftaturt
:( Drastically ' 100
Rtductd v - y.f, Pr-
i . . j , Several Styles . ,
Good Assortment 4 . ,t Chrome Plated Steel ...
MEZZANINE V " MEZZANINE
o1,0NLY II ' ao ONLY'5'..'
Girl's Rayon Woman's Faillt ,
Butchtr Wtaya Suitt v. Dusters Rtductd
' -- C00 , Also Butcher
.-Only t3. . , C66 "
- Assorted Colors . . . --, ; rv-i O " v
- Broke. Sizes . . ; 5 Vl n.v.
SECOND FLOOR SECOND iFLOOR .
10 Pair Children's Shoes I . . 'Broken Sizes .L -
100 Pair Women's letter Heels . Only
..4.00
5.88
UJ0
M Pair Women's Sued. Cloth Washable Mots "
14 Only Women's Cotton Robe and Dusters
One Rack Women's Dresses' Reduced . , . Broken Sizes $S
tO Only Women's Budget Dresses Repriced .Only 2.50
40 only J7"x4r Viscose Tweed Runs . . . Also Cottons $J
150 Yards 54" Upholstery Yardage. ,. Better Qualify l.oo
t Only 96"xSr Fiberalas Priscillss . . . Colors Only 4.00
12 Only Extra Wide Nylon Priscillss v . . Colors Only 5.00
Only Women's Flannel 6owns Now Only M
12 Only Women's Better Handbags ..Plus Tax 4.00
39 Only . Women's Pearl Cellars Reduced .Only t9c
21 Only Women's llghtw.lght Head Warmers' Only 77c
100 Only Women's Large Silk and ttayon Scarfs ...50
100 Pair Women's Stretchsblo Nylon Hose '1.2 .pair 1.50
40 Only University Style Men's Plaid Shirts - 2.00
20 Only Men's Cotton Plaid Sport Shirts .Orify 1.81
14 Only Men's All Wool Sweaters ...........:.OrVy 4.00
1 Only Men's AN Wool Pis Id Casual Jackets -8.SS
Only Men's All Wool Tep Coats ... :....:..Only 20.00
t Only Men's All Wool Spertcoats Reduced 1S.00
S Only Men's Weal Flannel Jackets Reduced .7.00
I 37 Only Jr. Boy's Sport Suits Reduced ... 3 to 8 7.00
19 Only Jr. Boy's Rayon Acetate Suits ... 4 to 12 ...8.88
! 17 Only Jr. Boy's Sport Costs . . Broken Sizes : 7.00
47 Only Olrfa Striped Cotton Polos Only 88c
12 Pair Girl's 100 Nylon Cloves H, , Only 50c pr.
It Only cwrs An Wool TweeeV Coats 58 and 510
15 Only Cirfs Rayon Faille Dsters .-.:Only 5.00
120 Only Girrs Batter Handbags Reduced Plus Tax 8Sc
10 Only Girl's 100 Nylon Dresses . 3 to ox 4.00
13 Only Girl's 100 Nylon Drosses , . v 7 to 14 .5.00
47 Only Women's Fashion Millinery IOnfy 2.00
23 Only Women's Imbossed Cotton Robes Only 2.00
is rsir women's Sailcloth Short Slacks ,',..,.Jnly 2 JO
' 1
, 1 ONLY
Wtmtn's Bttttr
Suits Rtductd v
: ov lTv
Assorted Styles , .
. Broken Sues ... v
' SECOND FLOOR -
lit ONLY
Wtmtn's Bttttr
Drttsts Rtductd
Only 4Ea.
Assorted Styles . .
' ' Broken Sizes ...
SECOND FLOOR
14 ONLY
Ttddlirt 2-pc
Coat Sats
V Only 3
Severs! Styles
and Fabrics . . .
SECOND FLOOR
S ONLY
Ttddltr Boy's
Sport Suits .
t3
y.i Only
Assorted Colors.,
Broken Sixes . . . '
. SECOND FLOOR
Rtmombtrl Shop Ptnnty's btfort buyingl You can hava big savings !
on that drastically rtductd Afttr-Easttr Bargainsl A ;