24 Nov 1981
Page 1
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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Nov 24, 1981
Page
1
The Labor Department reports October CPI up 0.4 percent with a 4.4 percent annual inflation rate, the lowest in over a year. Housing costs fall 0.7 percent while mortgage rates dip 0.1 percent. Food and transportation costs rise more modestly, with medical care up 10 percent and entertainment up 0.8 percent.
Chase Manhattan lowered its prime lending rate to 15 percent from 16 percent, the lowest in a year, with Citibank cutting to 16 percent. The move follows a Labor Department report showing October consumer prices up 0.4 percent, easing from September’s 1.2 percent amid slowing loan demand and a deepening recession.
Lorain County Children's Services seeks adoptive families for 35 foster children many with special needs. Economic hardship reduces local adopters, with 19 Black youths often placed out of county. A new group aims to recruit Black families while highlighting older white children needing homes.
Diana, pregnant with Prince William, lacks cash near Highgrove House and receives a $1.90 loan from her detective bodyguard after hesitation. Residents say she blushed and coughed while paying for a $5 bag of candy.
Washington reports a one day fiscal crisis ended with a Reagan veto on a budget bill and a $400 billion stopgap spending measure signed within hours. The fight shifts as Congress scraps non essential services and plans a new funding deadline set for December 15, with Feb. 3 and other dates under debate.
Elyria City Schools likely to receive about 564000 in additional state aid under the new biennial budget as estimated by Superintendent Dr. Thomas Showalter. He cautioned the final figure could shift slightly as state calculations unfold and noted the district had anticipated roughly 697000 in aid earlier but faced adjustments.
Olmsted Falls votes to retry a .5 percent income tax increase to 1.5 percent to fund a projected 200,000 deficit next year. A companion measure raises taxes on residents who work outside the city to .75 percent and would take effect only if the income tax passes. If it fails, an austerity plan includes ending garbage collection.
Cloudy conditions with a chance of drizzle or snow flurries and highs in the upper 30s. Tonight and Wednesday stay cloudy with a low near 30 and Wednesday high near 40. High of 35 at 3 pm Monday and a low of 24 at 8 am Monday. Details on Page A-3.
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