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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Aug. 26, 1954)
Page 2 THE BATTALION Thursday, August 26, 1954 MIA Limits House Mortgages Cadet Slouch </p) ....WASHINGTON Federal Housing’ Administration issued new regulations Wednesday limiting the mortgages it insures on most apartment rental projects to 80 per cent of the actual cost. That provision was included in a series of regulations based on the new housing law passed by Congress. It is designed to elim- The mate the profits which some build- owners must certify the actual cost ers received by getting mortgages which exceeded—sometimes by mil lions of dollars-—the actual cost of the structures they erected. Under the new plan, FHA will agree to insure mortgages on such projects for 80 per cent of the esti mated value of the completed prop erties. But when they are built, the Shivers and Yarborough Charge and Counter-Charge From the Dallas Morning News WACO, Texas—Gov. Allan Shiv ers told campaign crowds Wednes day that Ralph W. Yarborough had made the greatest financial re covery miracle in Texas’ political history. The Governor drew applause and laughter as he told his stump speaking audiences thx-ough Cen tral Texas that Yarboroughv said he was broke one day but on the next announced for Thursday night a $100,000 radio and television schedule. He ridiculed Yarborough for the alleged inconsistency. He said Yar borough’s announcement showed! » -There would be thirteen television ' ’ I nd fifty-six radio stations in the • ipfg broadcast. happen to know personally , J Hnat that cost,” said the Governor, T > r and it is in the neighborhood of ! $100,000. He must have gotten a | lot of money in a mighty big t -"hurry. It is a political miracle and k I don’t know where that money £ came from i WICHITA FALLS, Texas. — Ralph W. Yarborough returned to one of his first primary strong holds Wednesday and tyold its water-conscious citizens that his opponent had failed in soil and water conservation. The Austin candidate for Gov ernor spoke before a crowd of 500 on the Wichita County courthouse lawn in hot early-afternoon sun shine. He lashed at Gov. Allan Shivers for being slow, he said, to do any thing about Texas’ pressing water problems. “By January,” Yarborough said, “he will have been Governor long er than anyone in Texas history and only recently he got around to appointing a committee to study water problems. “Texas ranks forty-eighth among the states in what we spend per capita on soil and water conserva tion. And I’m averaging in those twenty-six states east of the Mis sissippi that have plenty of water.” of construction, and if original es timates were too high, the mort gage limit will be 80 per cent of the actual cost rather than of the estimate. The fair market value of the land will be considered also in fixing the amount. An exception to the 80 per cent rule will be permitted for apart ments costing not more than $7,200 per two-bedroom unit. As an in centive to promote construction of the lower cost projects, FHA will insure mortgages up to 90 per cent of the construction cost. A new limit of $2,000 per room— $2,400 for elevator-type apartments —is substituted for the old limit of $10,000 per unit. For apartments with fewer than four rooms, the new limit is $7,200, or $7,500 where elevators are included. Another provision of the regula tions prohibits use bf an apartment project for a hotel so long as gov ernment insurance of the project loan is in effect. The regulations apply to multi family rental housing built under Section 207 of the housing act. Regulations governing one to four- family homes were issued some time ago, and others pertaining to other programs are still being pre pared to meet requirements of the new law. Changes in the law followed ex tensive investigation by the Senate banking committee into alleged abuses under the law’s Section 608, which established a special post war program to promote apart ment construction. That program ended in 1950. Under it, builders were en couraged to erect the large projects and receive government insurance of loans up to 90 per cent of the estimated cost of the projects. Some builders were able to cut costs far below the original esti mates and below the amount of the mortgage. They pocketed the dif ference, for what Senate investi gators called “windfall” profits. 7 IP YOU DO GOOD TU' GAME. TODAY? YOU W E AY YOUR Ml SUOES IM PRACTICE KiEVfT WEEK! ‘Uncle Willie’ Pratt Home Show Star Eiitertainment Set For 1 lome S i 10w Turks Begin Tour Of Texas Stock >o r The Brazos county Home and Do-It-Yorrrself show in Bryan Sept. 8-12 will feature “Uncle Wil lie” Pratt as enertainment star of the 6:30-10:30 p.m. shows and the 2 p.m. Saturday and Sunday mat inees. Bryan Jaycees, with the assist ance of Patrick O’Toole, president of United Home Shows, Inc., are sponsoring’ the show in Bryan’s Schumacher building. “Uncle Willie”, a pint-sized Tex as entertainer, combines singing, dancing, mimicry and pantomine in his act. He has appeared on the stage, screen, television, fairs, and sup per clubs. Also planned as special Home show features are a button accor- dian contest for local musicians, and the presentation of prizes for Home Show visitors. The accordian contest is being sponsored by James L. Peters of Bryan’s Peters Music company. Champion accordianist, to be se lected Sunday night, Sept.. 12, will receive a new instrument from Peters plus a week-end at Hous ton’s Shamrock hotel. A minimum of 60 booths are ex pected to be manned at the show —booths which will show and tell visitors how to do everything from laying- kitchen tile to building an extra room on the house. Mrs. Weiss Attends Fall Fashion Show Mr s. Leon B. Weiss of College Station was among retailers from 77 South Texas cities who viewed the new fall fashions during the three-day San Antonio apparel market this week. The area buyers saw women’s and children’s clothing from 112 manufacturers. The conference ended yesterday. The Battalion Lawrence Sullivan Boss, Folmder of Aggie Traditions “Soldier, Statesman, Knightly Gentleman” The Battalion, official newspaper of the Agricultural and Mechan ical College of Texas, is published by students four times a week, during the regular school year. During the summer terms, and examination and vacation periods, The Battalion is published twice a week. Days of publications are Tuesday through Friday for the regular school year, and Tuesday and Thursday during examination and vacation periods and the summer terms. Subscription rates $9.00 per year or $ .76 per toonth. Advertising rates furnished pn request. Entered as second-class matter at Post Office at College Station, Texas under the Act of Con gress of March 3, 1870. Member of The Associated Press Represented nationally by National Advertising Services, Inc., at New York City, Chicago, Los Angeles, and San Fran cisco. The Associated Press is entitled exclusively to the use for republi cation of all news dispatches credited to it or not otherwise credited in the paper and local news of spontaneous origin published herein. Rights of republication of all other matter herein are also reserved. News contributions may be made by telephone (4-5444 or 4-7604) or at the editorial office room, 202 Goodwin Hall. Classified ads may be placed by telephone (4-5324) or at the Student Activities Office, Room 209 Goodwin Hall. Harri Baker Editor, Advertising Manager Keratin Ekfelt Woman’s Editor Seventeen Turkish livestock spe cialists arrived at Del Rio Wed nesday to begin an intensive 11- day look at Texas livestock meth ods. They are particularly interested in sheep and goats, and a highlight of the program will be a day as guests of the American Angora Goat Breeders’ Association at Rocksprings, according to D. A. (Andy) Adam, field representative of the Agricultural Extension service. The group is in this country un der auspices of the Foreign Oper ations administration in coopera tion with the U. S. Department of Agriculture and land-grant col leges of the nation. Objects of the study are a study of modern techniques of feeding various species and types of live stock including pasture manage ment, feed production and conser vation; modern methods of selec ting animals for productivity; functions of county agents and state livestock and crop specialists to learn how they and research stations and colleges assist private breeders and farmers; visit live stock sanitation commissions; vis it practicing veterinarians, and visits to packing plants and dairy and poultry processing plants. Beginning on their day of ar- rival, the group visited Fred T. Earwood’s ranch, with D. C. Lang ford, Sutton county agent, in charge. Next on the program, Aug. 26, is a visit to the Texas Agricultural Experiment Station at Sonora. Then the group will move to Rock- springs for the day as guests of Mr. and Mrs. L. A. Clark. Mr. Clark is president of the AAGBA. Among other things they will see there are a goat shearing demon stration and a goat judging dem onstration to be conducted by J. E. Tatum, vocational agriculture teacher. Aug. 28 the group will move to Menai’d for the Hill country 4-H and FFA Ram Sale, D. C. Lang ford, in charge. This will dem onstrate the contribution 4-H club members and Future Farmers of America are making toward sheep and goat improvement programs in this country. Aug. 30 the group will visit the U.S.D.A. livestock investigations laboratory at Kerrville, with C. L. Smith, Dr. R. C. Bushland, both entomologists, and others of the staff in charge. Kerr county agent Guy Powell will direct the group to the laboratory. Aug. 31 the group will go to Bandera for a Mohair grading demonstration and other opera tions at the Bandera wool and mohair warehouse. They will hear a program on “What Grading Means to Goat Rraisers.” Sept. 1 the group will visit the state capitol at Austin, then move to Waco for a visit to the Blue bonnet farm of the Agricultural Experiment station. H. O. Hill, A&M Will Offer Courses for BAFB superintendent, will be in chai’ge. Following this program, the group will move to A&M for the remain der of its Texas’ stay. Of primary interest here will be a tour of the new veterinary hospital, arranged by Dean W. W. Armistead of the School of Veterinary Medicine. Sept. 4 the group will leave for Chicago and Columbus, Ohio. At the Grove Thursday, August 26—“Lili” in technicolor, starring Leslie Caron, Mel Ferrer, and Jean Pierre Au- mont. $25 OFF 1951 Models Rioyal Portable Typewriters Bryan Business Machine Company 409 S. Main LEGAL H0LID Saturday, August 28, 19£ in observance of Electioi the undersigned will obse Holiday and not be open 1 ' 1 being a Legal \ Day—Second 1 rve t hat date asuA! or business. FIRST NATIONAL BANK CITY NATIONAL BANK FIRST STATE BANK & TRU! COLLEGE STATION STATES B TOGO