New Initiatives Urged to Ease Regional Mortgage Crisis
Boston bankers urged regional lenders to sell mortgages to FNMA to raise cash for loans. The plan would widen funding but push mortgage rates to around 10 percent or higher. Seminar attendees from New England real estate, banking, and construction sectors heard that only 10 to 13 Massachusetts banks participate in the program, and a broader educational push is needed to shift away from local self-sufficiency toward the secondary mortgage market.
MENTIONED IN THIS ARTICLE
Newton
Mass
New England
Boston
Peter J. Blampied
Boston Five Cents Savings Bank
Ket
Robert J. Spiller
Marriott Motor Hotel
Greater Boston Real Estate Board
Vermont
New Hampshire
Connecticut
Massachusetts
Daniel P. Kearney
Government National Mortgage Association
FNMA
Kearney
Spiller
Blampied
Theories Everywhere But Where Is Patty Hearst
Patty Hearst remains missing after a June 7 tape in which she vows action. Authorities pursue her alleged accomplices William and Emily Harris of the SLA for kidnapping and robbery, with locations ranging from Guatemala to California.
MENTIONED IN THIS ARTICLE
Patty
Los Angeles
Patty Hearst
Underground
Van
Guatemala
Panama
Canada
Illinois
San Francisco Bay Area
Hearst
Berkeley
Tania
William
Emily Harris
SLA
Miss Hearst
FBI
Salt Lake City
Utah
Highway Patrol
Harris
Sandpoint
Idaho
North Hollywood
Randolph A
Catherine Hearst
Hillsborough
Calif
Harrises
Cyprus Conclave Rejected Amid Cyprus Crisis and Hearst Case
The Associated Press reports Turkey rejects a Soviet plan for an 18 nation Cyprus conference as Greek Cypriots seek a U.N. Security Council meeting on 200000 displaced people. Turkish and Greek delegations clash over negotiations while refugee welfare draws global attention.
MENTIONED IN THIS ARTICLE
Associated Press
Turkey
Cyprus
United Nations Security Council
Uran Gunes
Security Council
Greece
Gunes
Britain
Washington
Nuri Eren
Moscow
Jacob Malik
Kurt Waldheim
Athens
Nicosia
Ankara
U.N
Sadruddin Aga Khan
States Lose Right To Offshore Wealth
A Supreme Court special master has rejected 12 Atlantic coast states claims to offshore seabed rights. The report by Judge Albert B. Maris concludes the United States owns the seabed from three miles out, not the states, potentially boosting federal royalties. The case names North Carolina, Maine, New Hampshire, Rhode Island, Massachusetts, New York, New Jersey, Delaware, Maryland, Virginia, South Carolina and Georgia.
MENTIONED IN THIS ARTICLE
Washington
Supreme Court
Atlantic
Albert B. Maris
Philadelphia
Maine
Bruce R. Oshkow
Justice Department
Maris
Federal Treasury
Georgia
Maryland
Delaware
United States
Graf
North Carolina
New Hampshire
Rhode Island
Massachusetts
New York
New Jersey
Virginia
South Carolina
Bikes Boom in Maine as Cohen Chooses Local Life
Harry Cohen, 25, owner of Harber Cycle Shop in Biddeford, left a New York brokerage career to run a Maine bike shop. He notes stock markets slump while bicycle sales rise, enjoys friendly locals, and plans to stay in Maine despite lower potential earnings. He still follows Wall Street from Portland.
MENTIONED IN THIS ARTICLE
Harry Cohen
Harbor Cycle Center
Main Street
Biddeford
New York Stock Exchange
Harber Cycle Shop
New York City
Cohen
Lewiston
The
University of Maine
Edwards and Lanly
Portland
New York
Long Island
Wall Street
Maine
Wall Street Journal
Tax Bill Season Brings Protests In OLD ORCHARD BEACH
Taxpayers flood Bernard Emery's office after bills rise by roughly 14 percent due to a $182 254 budget increase and a 5 mil rise in the tax rate. About 20 plan to appeal. others contend with over the counter payments totaling near 100 000 in two days. Appeals go to the Board of Assessment Review with possible Superior Court action. Major budget jumps include the school department 250 000 and debt retirement 190 090. Deadline to pay without a total interest charge is Oct 7.
MENTIONED IN THIS ARTICLE
Old Orchard Beach
Bernard Emery
Rita Belair
Emery
Board of Assessment
Superior Court
Public Works Department
Public Apathy Hampers War on Crime Says Police Chiefs
Chicago AP report notes police leaders blame public apathy for crime rise. Detroit Chief Philip G. Tannian and Baltimore Commissioner Donald D. Pomerleau urge shared responsibility. L A County Sheriff Peter Pitchess calls it community apathy hindering investigations. FBI data cited show crime up in late 1973 and early 1974. Honolulu Chief Keala and Seattle Chief Hanson welcome a realistic AG stance.
MENTIONED IN THIS ARTICLE
Chicago
Detroit
Philip G. Tannian
Donald D. Pomerleau
Baltimore
Peter Pitchess
Los Angeles County
Atty
William B. Saxbe
Law Enforcement Assistance Administration
Saxbe
FBI
Honolulu
Francis A. Keala
Seattle
Robert L. Hanson
Education is a Wonderful Thing Chuckle
A lighthearted quip notes that without a signature you must pay cash, a playful jab at bureaucratic formality and the value of literacy in daily life. The line highlights practical humor about signing names and paying on the spot.
Also Mentioned on This Page
Clarence M. Kelley
Charles Bates
Bates
San Francisco
California
Donald “Cinque” DeFreeze
John Ewing
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