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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 7, 1958)
Medford Tribune Pages 1-8 MEDFORD, OREGON, SUNDAY, DECEMBER 7, 1958 Third Section New Federal Facility Would Provide More Mortgage Money By A- ROBERT SMITH Mail Tribune Wathinglon Correspondent Washington (Special)-A new federal facility to pro vide a steady flow of mort- rjmisme?m gage money iT".. pit or 'heme I K?' ' reconstruction- l 'ClZ Oregon lum it ber's bigge3t market will be proposed to the new 86th Congress by the National Association of Home Build ers. The iaea is to esxaDiisn Central Mortgage Bank Fa cility. This agency would buy up mortgages from commer cial lending institutions, thereby putting more money into the mortgage market when credit would ordinarily be tight. Lumber industry economists are expecting- a tightening money situation to slow down lumber demands during the early part of 1959. They are counting on Congress to loos en the money situation by passing new housing legisla- A. Rnbt Smith SPECIAL BIG Double Load DRY WOOD McGinfy Fuel Go. Phone SP 3-6297 tion or appropriating more money for existing housing agencies. Major Recommendation The Central Bank was the major recommendation of the Home Builder's legislative policy committee which met here in November. "It reflected the deep con cern of home builders over the need for stabilizing the mortgage market and facili tating investment in home mortgages. The fact that money is again becoming in creasingly more difficult for home builders to obtain on reasonable terms lent a note of urgency to the committee's deliberations," the Associa tion reported. One power which the Cen tral Bank would have, as the Association sees it, would be to adjust rates on FHA and GI home loans. Congress now retains the power to increase the GI rate, but the adminis tration can change the FHA rate. The new bank would as sume the functions now per formed by the Federal Na tional Mortgage association, which currently buys up mortgages but has limited funds with which to do it. Would Sell Bonds The Central Bank would have more money because it could sell bonds and long term debentures. Through this means, the designers of this agency believe it could tap the vast funds accumulat ed in pension programs of private corporations- The Home Builders said the Central Bank should: have the power to buy mortgages, which at the outset wouldbe limited to those backed by the government; be operated by an independent board; function through stock owner ship rights; have power to re discount or make interim loans on the security of FHA and VA mortgages; and be able to supplement the opera tions of private pools of mort gage funds assembled through local or regional indentured trusts or similar plans. Congress is expected to take up work on an omnibus hous ing bill early next year, for the last session failed to enact such a measure because of its unexpected defeat in the House just before adjourn ment. Mention Three Items Sen. Lyndon B. Johnson (D-Tex.), in the 18-point pro gram he offered as the Demo cratic legislative proposals for the new session, men tioned three items related to housing. He repeated his earlier declaration in favor of a "bold housing program which will set as its goal a home for every American family." Johnson also called for a "courageous - urban renewal program to bring new health and vitality to our cities." And he said "we need to face up to the high interest rates which are slowing the needed growth of our economy." Telephone Rate Hearing To Resume Salem (CPU Procedings in which Pacific Telephone Com pany is seeking a statewide rate increase of $4,850,000 will be resumed by the Public Utility Commission here next Monday. Meyer Comments On Efficiency Of Fire Dri Central Point Charles A. Meyer, principal of the Cen tral Point elementary and the junior high school, comment ed today on the efficiency of the school fire drills. At the beginning of the school term, the Central Point City Fire Chief, Don Turner, assited in working out the most efficient fire precautions to be achieved at the school, and instruction and fire drils were given repeatedly until operations are running smoothly. Drills continued until the building could be cleared in 45 seconds. The building has been cleared in 42 seconds, Meyer said. Regular fire drills are held once a month. The fire chief has said that fire precautions and drill op erations are .highly satisfac tory with the facilities avail able. The old brick elementary school building, which was built in 1908, is the building which causes the most con cern, officials said. The boil er room, however, is attached to the building with a brick wall between it and the school itself. Meyer reported that there have been several complaints recently of children lighting matches on buses and at t h e school. Meyer asked for the cooperation of the parents on this matter. Children should not have matches with them at school or going to or from school. 1 "Yes, We have no Bananas" was the hit song of 1923. OPEN MONDAY NIGHT 'TIL SANTA IN PERSON 7-9 P.M. Lower Floor I f5?ff) FOOTBALL SPECIAL COMPLETE FOOTBALL OUTFIT HELMET SHOULDER PADS PANTS & SHIRT keg. 10.00 FOR THE TRAVELING YOUNG LADY Little lady vernite cases. For her own us or for dolly clothes. Stur dy, durable. Reg. 3.98 2. GIRL'S ELECTRIC RANGE Really, cooks. You can bake in the oven. Cook on top. Pots and pans included. Reg. 10.95 7.88 DOCTOR-NURSE KITS Complete doctor's kit. Durable plasticJ Completely " outfitted with microscope, stethoscope, pills, etc 0 SPECIAL 12" BABY DOLL "Sweet Pea" complete with diaper, booties and bottle. All vinyl. Has rooted hair, moving eyes. Completely washable. Both drinks and ' wets. Reg. 3.00 1. 88 FAMOUS . IL " , ;J!DE tonka .raga STURDY - DURABLE - RUBBER TIRES Long lasting stake trucks.; Reg. 3.98 The Family Council Editor's not: The Family Council consists ot a Judge, a psychiatrist, three clergymen, a newspaper editor, a women's editor and two writers Each article is a summary of an actual report. The Family Council does not jive advice; it merely reports on problems that have been dealt with by responsible agencies' and counselors. Joseph K. I am 17 and have been going steady with a g'rl a year younger for the past several months. We are really in love, but we realize that we won't be ready for marriage for three or four years. ' . I think I'm being fair and reasonable. My parents ought to respect my maturity, but they try to make a fool out of me. They raise a rumpus every time I get on the tele phone.' Dad laughs at my girl because she wears braces on her teeth. My kid sister drew a mustache on my girL's pic ture and my parents just laughed. They encourage her to act up every time I go out. Things have gotten so bad that I'm completely disgusted with my family and I hate going home. Weren't they ever in love when they were young? Heads Association Portland-OJPD-Lloyd Lewis, sheriff of Josephine county, today was named president of the Oregon Sheriffs Asso ciation succeeding Sheriff John t Elfering of Malheur county. Mrs. F. K. Joe has been simply impossible during the past few months. He flares up at the least word that is said to him and has talked back to me and his father. He smacks his kid sister some thing he never did before. The worst of it has been the telephone conversations. He ties up the telephone by the hour, cooing little noth ings to his girl. None of us gets a chance at the telephone unless he is out on a date. We realize that Joe is a high school senior already, but in many ways he is very young for his age and this puppy love is just ridiculous. Joe is so irresponsible that he would never get to school on time if I didn't keep after him every minute, handing him his clothes and books. - , . The Council: The F.K.'s are confusing too many issues and are not giving Joe an even chance to show emotionally and to develop a normal ad ult sense of responsibility. Joe has a right to get re spect for his very natural feelings. It is unfair to tease him for these feelings and use them as a springboard to needle him for other things. Instinctively Joe realizes that he has a right to his per sonal feelings, but he is forced to fight for them in a child ish way such as monopo lizing the telephone. The F.K.'s have every right to complain about the tele phone issue and to insist upon limited telephone privileges for him, but it should be made clear that this has noth ing to do with his romance. They should let him know that he cannot walk all over their. rights just because he happens to be wrapped up in some strong feelings of his own. If they show respect for him they will be on much sounder ground when they demand respect, and a sense of responsibility from him. Teasing adolescents about their puppy love is not a triv ial matter. Parents can inflict some pretty deep scars this way. Even worse, they often PROTECT Tour Furniture with Glass Table Tops A Christmas Gift For the Home Phone SP 3-3613 SELBY GcAoss 303 North Bartlett force the adolescent to lock himself up in a shell. He will not come to his parents with his problems and they will not be able to have any in fluence on him if serious dif ficulties arise. A great deal t hitterxt&u in parent-child relations has often taken root in teasing about puppy love. (Copyright 1958, General Features Corp.) ANDERS PHOTO SHOP 232 E. Main Phone SP 2-5646 Presents The most personal cards you can send . . 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