Page 8/The BattalionAA/ednesday, August 31, 1983
^ftootn
Housing sales down
along with prices
Serving
Luncheon Buffet
Sandwich and
Soup Bar
Mezzanine Floor
Sunday through Friday
11 a.m. to 1:30 p.m.
United Press International
Washington — The housing
sales boom that precedeti the
economic recovery is slowing
down, and prices are declining
too, the government says.
Sales of new houses slumped
6.5 percent in July, even though
builders sliced the average price
of a new house to $88,100, the
Commerce Department said
Monday.
Delicious Food
Beautiful View
The price tag for a new house
was $2,600 less than June’s aver
age. It was the first price break
since March, when the average
slipped far less, $400.
Open to the Public
“Quality First”
The median price was
$75,000, still far from what the
middle-income American can
afford. The National Associa
tion of Realtors said Monday an
American family with earnings
midway between the highest and
lowest income could only qualify
for the purchase of a house that
cost $59,430.
Housing sales and production
started to pick up when mort
gage interest rates fell about
four points in the second half of
last year. By November the re
cession was said to be over for
the entire economy.
With economic growth still re
ported strong, interest rates in
ched up again, at least until last
week when the FHA-VA rate
backed by the government went
down half a point to 13 percent.
“Sales are going to be weak at
current interest rate levels,” eco
nomist Michael Sumichrast said,
speaking for the National Asso
ciation of Home Builders.
Sales will continue to drop in
August and September and the
annual rate of new house sales
may fall below the 600,000 rate
for the first time since February,
he forecast. In July the pace was
running at a 620,000-unit-a-
year rate.
“In May, everything looked so
great,” Sumichrast said.
Another economist, Mark
Riedy of the Mortgage Bankers
Association, agreed that “the in
crease in mortgage rates is tak
ing its toll in home sales. The
pattern of increases in new
home sales has probably come to
an end in 1983.”
Despite the sharp decline in
sales in July and the revised 0.3
percent drop in June, house
sales were still 70.3 percent
ahead of their depressed level a
year earlier.
By the end of July, there .were
enough houses left on the mar
ket unsold to last 5.7 months, the
department said. That is the big
gest supply since December.
In another report, the Com
merce Department said the na
tion’s merchandise trade deficit
in July grew to $6.36 billion, the
third worst monthly red ink fi
gure on record.
Total exports earned $16.6
billion in July, down 2.2 percent
from June, while imports cost
Americans $22.99 billion, up 4.7
percent from June. The June
deficit was $4.96 billion.
Greek life at A&M is something special. The
Fraternities can offer you a lot. They give you an
opportunity to excell in leadership and develop
organizational skills. They provide a well-rounded
social and academic atmosphere.
With Phi Kappa Tau we offer you this
but with a small difference since we are in the colony phase, you will
have a maj'or part of building the foundation of the fraternity. You will
help devise the social programs, the pledge programs — all your
fraternity's programs. There's no waiting. Your input is immediate.
The results are up to you.
So if you are looking for the opportunity for immediate leadership,
lifetime frienships, a more influential position on campus, and an
alternative to existing organizations, then feel free to contact two
members for a personal interview.
DAVE
260-2281
or
KYLE
260-3452
Developer to redo
the Piazza dTtalia
United Press International
NEW ORLEANS — A private
developer vows to pour more
than $18 million into the often-
overlooked Piazza d’ltalia over
the next few years, adding a lux
ury hotel, shops, offices and an
Italian-American study center.
The plaza will be developed
by Lincoln Hotels New Orleans
Associates, a company with part
ners in Dallas, Denver and New
Orleans. The $14 million Piazza
was dedicated in 1978.
X
features a keyhole-shape d pi aza,
the nationally acclaimed St.
Joseph’s Fountain, an arch and a
large bell tower. Monday’s de
velopment agreement followed
several years of false starts and
21 months of negotiation.
The company agreed to de
velop an Italian-style hotel of ab
out 150 rooms, combining re
novation of a series of 1880s
BOSS HERD
TAKES AVOW.
“Ah do solemiily _
swear that you,
ah say you, will be
dee-lighted with
Tinsley’s Chicken
’n Rolls. Yon have
mah word on it.
BOSS BIRD
Plump, flavorful
chicken cooked up light ’n
crispy in the natural goodness of
pure vegetable oil. Fresh rolls baked from
scratch (we were the first). Lots of real
country honey—not those piddly little packets
of artificial stuff. Honest-to-gosh brewed tea, iced to a
refreshing chill. Plus extras like cole slaw, potato salad, big
french fries, and jalapeho peppers.
That’s the terrific kind of meal
you’ll find at Tinsley’s
Chicken n Rolls. Ask any
body if it isn’t so.
Ask Boss Bird.
J
2 Pieces of Chicken
and 2 Rolls
95<U
Delicious light 'n crispy chicken
and fresh-baked rolls.
Offer good at all participating
Tinsley's Chicken 'n Rolls.
Coupon expires: 9/7/83
lO Pieces of Chicken
and lO Rolls
$4.69
Delicious light 'n crispy chicken
and fresh-baked rolls.
Offer good at all participating
TinHev'sChicken 'n Rolls.
Coupon expires: 9/7/83
1905 Texas Ave., 693-1669
705 N. Texas Ave., 822-2819
512 Villa Maria Rd., 822-5277
1905 Texas Ave., 693-1669
705 N. Texas Ave., 822-2819
512 Villa Maria Rd., 822-5277
B
Chicken ’n rolls ■ B
Chicken ’n rolls
warehouses and new construc-
don, officials said.
Work on the hotel was sche
duled to begin after the 1984
World’s Fair and be completed
by late 1985 or early 1986.
The developers said they
would give one existing building
to the Italian American Renaiss
ance Foundation, which will use
it for a cultural center. The cen
ter was expected to be com
pleted before the fair begins
May 12.
Before the fair, the city will
spend about $50,000 to bring
the plaza back to mint condition,
repairing the fountains and
other facilities. The city will then
give the Piazza to the develop
ers, who will keep it as a public
space.
Under the agreement, Lin
coln Hotels will provide mainte
nance and 24-hour security —
which should save the city up to
$100,000 a year. The contract
also guarantees the city 3 per
cent of the project’s annual gross
income or a set fee, whichever is
greater.
liln
1 X
1J
-W
0 m m »
-TIL Q:T_|_|JJp |
it
Around town
Hillel holds ice cream social tonight
The TAMU Hillel Jewish Student Center will hold a free ice
light
together. It will be held at the Hillel buildingon thecornerof
Dexter and Jersey, and everyone is welcome.
Review course for CPA exam
offered
Registration is under way for a review course fortheCerli-
“edr
fied Public Accountant exam. The review is being offered
for the first time by the College of Business Administa'
tion’s Center for Executive Development.
The course, which will be held on Saturdays from 8am
to 5 p.m., will begin Aug. 6 and will continue through Octo
ber. It offers over 100 hours of classroom instruction during
a 13-week period immediately proceeding the November
exams.
The course is designed to provide CPA candidates withan
intensive, concentrated review of accounting principles,
practices, business law and discussion of solutions to CPA
problems and questions. Discussions and lectures will be
directed to topics appearing in recent CPA exams as well as j
current developments and problems in accounting.
The complete course costs $700. Individuals can enrol j
for specific sections on theory and practice for $520, audi-j
ting for $195, and business law' for $185.
Bryan to hold country life festival
Arts, crafts, and skills depicting life in Brazos Countyover
85 years ago will be displayed at the Country Life Festival,to
be held Sept. 24 in Tanglew'ood Park from 10a.m.to6p.m
The festival is sponsored by the Bryan Recreation Program
ming and Services division.
To apply for an exhibitor’s booth, call 779-5622 ext.323
by Sept. 13. No booth fees will be charged.
Dates changed for community dassa
Registration dates for the cultural and recreational prog
rams, offered by the Bryan Recreation Programming and
Services, have been changed from Aug. 29-31 to Sept. 21-23.
ibc
For more information about the classes, call 779-5622.
To submit an item for this column, come by the Battalion ■
office in 216 Reed McDonald or contact Cheryl Burke at
845-2611
Take A Good Look!
Look Us Over!
in
YOUR LOCAL
FULL SERVICE
LAUNDRY
3702 S. COLLEGE AVE.
BRYAN 846-2872
.
Fully AH
Conditioned!
LAUNDRY
Big
nd the:
dculab
Wash-Dry & Fold/7 Days/Wk
Attendants on Duty 8:OOAM-9:OOPM
Dry Cleaning Pick-up 7 Days/Wk, 8AM-9PM
55 Washers & 27 Big Double Load Dryers
Double Load Washers
Huge 35 lb. Washers
(Good for blankets, sleeping bags, etc)
he HI
Pov
^rcibin;
derate
elp like
ame or
Open 24 Hours Per Day
Back to School
Special
When you wash - present coupon
50£ FREE Dtf
Iheck y&
iBi* 1
SO£ FREE DRY
Mon®
LAUNDRY
50(5 FREE-
PRESENT TO ATTENDANT AFTER WASHING C-'''
Good only SAM to 8 PM
COUPON GOOD WITH
WASH - DRY 8c FOLD ORDERS
5$
0
3702 S. COLLEGE AVE.
BRYAN 846-2872
LIMIT - ONE COUPON PI
VOID AFTER OCTOBER