08 Sep 1950
Page 1
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Newspaper
Indiana Evening Gazette
Location
Indiana, Pennsylvania, United States of America
Date
Sep 08, 1950
Page
1
Babson warns the housing boom is driven by easy credit and government-backed mortgage loans. He critiques the push for small four room homes and urges substantial down payments, noting potential future surpluses and market volatility as Korean tensions ease. He advises avoiding large city purchases unless essential and highlights shifting city valuations.
Washington declared that Communist China is bound to wait for a peaceful settlement of the Formosan issue in the United Nations Security Council. State Department spokesman Michael J. McDermott said there is no intimation of Peiping's plans and expressed hope there will be no attack on Formosa. The United States does not recognize Communist China and has had no communication with Peiping.
The speaker prefers a 30 percent down payment for a home in better sections of small American communities. They expect population shifts from big cities to continue, lowering urban real estate values. An older, well-built house in top sections may be a smarter buy than a new home in the current market. It may cost more than original build, but about half of today’s construction costs.
President Truman told a National Citizens Committee for United Nations crowd that the United States fights in Korea for a peaceful world not conquest. He emphasized peaceful aims for Asia Europe and the Americas as 4 H Club girls presented a blue UN flag and pledged loyalty. Mrs. Roosevelt introduced the President and outlined UN public interest plans.
Carrizozo New Mexico reports a prison inmate’s confession uncovers a 1940 homicide. Two men, Leon Todd of Mineral Wells Texas and Glen Thornton, were charged with killing 30 year old Willis Hewitt of Ruidoso after Hewitt on his deathbed claimed he shot himself. Todd denied knowledge of the slaying while Thornton said he was paid to eliminate Hewitt and never received promised money.
Senator McCarran warned that President Truman’s pledge not to sign his anti Communist bill could boost GOP chances in November. He urged that the public wants the bill enacted, while noting a veto might produce a Republican Congress. The Senate planned to begin votes on the legislation at noon EST.
Tokyo reports new UN leaflet The Parachute News No 11 claims North Korea lost the ground gained in its largest offensive and that UN troops broke the Radj attack The item was dropped to villagers behind UN lines and bears both Korean Republic and UN flags The message is translated for English readers.
Pravda reports that arrests in France, labeled by the Communist paper as dictated by American aggressors, will backfire by rallying peace partisans. Paris dispatch notes French ministers waver over laws used in 1989 to crush the Communist Party, arguing Washington-backed measures provoke broad French masses.
HAERI reports the General State Authority will open bids September 27 for alterations to the boiler plant at Clarion State Teachers College. The project aims to upgrade heating infrastructure at the institution in Sept. 8 notice.
A prisoner claimed the motive for a murder was impulsive and remorse followed. Separate dispatches note a jump in watermelon production to 77 million in 1949, and a Moscow newspaper alleged US moves to seize Canada, Greenland, and Iceland under North American defense pretexts, listing bases and territorial claims.
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