Interest charges explored by Sylvia Porter
A 5 percent annual rate on instalment loans yields a true 10.07 percent cost after upfront interest deductions. Revolving credit at 1 percent monthly costs about 12 percent yearly, while store plans at up to 2 percent monthly reach 30 percent annually. The Fed keeps credit tight to curb inflation, but many borrowers remain unaware of true costs. A $500 loan at 54.4 percent would show a true annual rate of 10.07 percent due to advance interest deduction, with gradual payoff over 12 months.
MENTIONED IN THIS ARTICLE
Federal Reserve System
New York City
True annual interest rates and a new jaywalk fine
A guide explains how stated monthly rates differ from true annual rates and how to compute the real cost of loans. In Philadelphia Mayor Tate’s Traffic Safety Advisory Committee advances an anti jaywalk ordinance imposing a $1 fine, sending it to City Council.
MENTIONED IN THIS ARTICLE
Philadelphia
UPI
James H. J. Tate
City Council
Guarantee Your Purchases Keep Warranties Filed
Advice on retaining warranties and guarantees with receipts, how to verify coverage, and the importance of filing papers in a dedicated spot. Also a stock market update from New York and a note on a hormone spray delaying apple harvest in Seattle.
MENTIONED IN THIS ARTICLE
Babson Park
Mass
Federal Trade Commission
NEW York
UPI
New York Stock Exchange
United Press International Stock Market
Motorola
Texas Instruments
General Electric
Zenith
Fairchild Camera
United Airlines
TWA
Northwest
Braniff
du Pont
Chrysler
Ford
General Motors
Seattle
Beavon Named Manufacturing Manager at Reliable Luggage
Samuel L. Weiner of Reliable Luggage Inc announces Alfred N. Beavon to manufacturing manager and Max Sadoff moves from sales manager to director of marketing. Beavon, Martins Ferry Ohio native, MBA Temple University, BS from Youngstown, Navy machinist 1944 46, previously VP and plant manager at National Plumbing Fixture Co. Sadoff, Clarion Iowa native, MBA Harvard Business School, BS Northern Michigan College, Navy lieutenant 1943 46, joined Reliable in 1965. He lives with his wife and two daughters at 2003 Highland Ave.
MENTIONED IN THIS ARTICLE
Samuel L. Weiner
Reliable Luggage Inc
Alfred N. Beavon
Max Sadoff
Beavon
Martins Ferry
Ohio
Temple University
Youngstown University
United States Navy
Reliable
National Plumbing Fixture Co
Universal Rundle
Camden
N.J
New Castle
Marjorie van
Lincoln Ave
Sadoff
Clarion
Iowa
Harvard Business School
Northern Michigan College
United States
Highland Ave
CHARGE plans to rent former furniture building for HQ
CHARGE Inc and the local anti poverty board will convene at 2 p.m. tomorrow in city hall to discuss renting the former A&M Furniture building on the South Side as a central headquarters. Directors will consider a personnel hiring policy and designating Lawrence County as a sixth poverty target area.
MENTIONED IN THIS ARTICLE
Charge Inc
Antipoverty Board of Directors
City Hall
A&m Furniture
Lawrence County
Office of Economic Opportunity
Charter Revision Committee Reviews Local Government Legislation
The City Charter Revision Committee discussed state laws affecting the mayor council form of government set to take effect January 1, 1968. No organizational outline was established, and co chairman Thomas A. Shumaker said the session was for discussion and study. Recommendations are planned for January.
MENTIONED IN THIS ARTICLE
Thomas A. Shumaker
Cochairman
Drifting Truck Hits Parked Auto in City Incident
Police search license numbers to identify owner of drifting truck that crossed Cochran Way near North Street at 10 15 p m yesterday and struck a parked vehicle causing an estimated damage unknown.
MENTIONED IN THIS ARTICLE
James A. Schaas
Madison Ave
Cochran Way
North St
Also Mentioned on This Page
By Sylvia Porter
Babson
Illinois Central
Rand
S International Harv
International Nickel
Tel & Tel
Island Creek Coal
Jones & Laughlin Kennecott
Lehigh Valley Indus
LOF Glass
Lorillard
Mack Trucks
Monsanto
Montgomery Ward
National Aviation
National Biscuit
National
New York Central
Norfolk & Western
North Amer Aviation
Owen Illinois Glass
Pan Am World Airw
My Peabody Coal
ACF Industries
Reading
Air Reduction
Allegheny Lud Steel
Republic Steel
Allegheny Power
Sinclair Reynolds Tobacco
Allied Chemical
Allis Chalmers
Sperry Rand
Alcoa
Standard Brand
Standard Oil Calif
American Airlines
Standard Oil
Ind
Standard Oil NJ
American Anamid
Standard Oil Ohio
American
Elec
Studebaker
American Metal Cl
Tenneco
American Metal Prod
Texaco
American Motors
Tidewater Oil
American T&t
Timken _ Ro
American Tobacco
US Steel
Canadian Pacific
Va P&p
Celanese
Western Union
Chesapeake & Ohio
Westinghouse Air Bk
Westinghouse Electrn GE
Colgate
Wheeling Steel
Cole Fir
White Motor
Columbia Gas
Woolworth
Consolidated Edison Xerox Co
Youngstown Sheet T
Nat Gas
Ly Consolidated Cigar
Hg Consolidated Coal
Ve Consumers Power
Copperweld Steel
Crucible Steel
Curtiss Wright
Detroit Edison
Douglas AC
DuPont
Eastern Airlines Firestone
General Dynamic
General Tel
Goodrich
Goodyear
Great A&p
Gulf Oil
Harbison Walker
Hercules Inc
Onsidey
FNB
First National
Tableware Club
New Castle Neshannock
Ellwood City
New Wilmington
F.d.11.c
Kem
M. M. Grata
E. Long
Trucker
Cleveland
Frederick van Thiel
Tarentum
Warrensville Heights
Cuyahoga County
van Thiel
The
Air Products Co
Honolulu
Charter Committee
Wellington Fund
Albert $. Thomas
Reed, Lear & Co
Wilmington Ave
Tareyton
Derosa
S. Jefferson Street
W. Wash. St
Sunny Brook
Royal Scot
Wieners Bologna
Great Lakes
Robert’s—Herman Cooks
Sea Island
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