Newspaper Page Text
Griffin Daily News
Monday, August 18, 1969
PERSONAL FINANCE
Hard Decision: Variable
Or Fixed-Rate Mortgage?
By CARLTON SMITH and
RICHARD PUTNAM PRATT
Judging by the amount of
discussion it’s been getting
lately, the variable-rate
mortgage may yet become a
commonplace in the bank’s
repertoire.
This is the loan on which
the interest rate rises or falls
in tune with general
economic conditions.
If the day ever comes
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Photographed at Sea Island. Georgia
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Make the
Great Escape.
Switch to a
flameless electric heat pump
Your home can become your own special island of
comfort and relaxation. Switch to an electric heat pump
and forget the ups and downs of weather.
The heat pump cools your home when the weather’s
hot, warms it when the temperature drops.
It’s completely automatic. Set the thermostat once and
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maintains the temperature you’ve picked, regardless
of the weather.
It filters and dehumidifies, as needed. Makes your home
a retreat of quiet, clean comfort. For a small monthly
charge, our 10-year heat pump warranty assures
flawless operation, all parts and labor included.
Make the escape. Switch to a flameless electric heat
pump. And take your stand for the simple life.
Georgia Power Company
5
when all mortgage lending
is done on the variable-rate
basis, the only chore of the
homeowner will be to grin
and bear it. For the time
being, however, most banks
introducing the variable-rate
loan also offer the fixed-rate
variety as an alternative.
When this happens, the
borrower is forced into a
fateful decision: Should he
mW
Pratt Smith
go for the known quantity of
the fixed-rate loan or gamble
on the possibility of a saving
via the variable rate?
The future may not be
reflected in the past, of
course, but it is interesting
to put hindsight to work and
see what would have hap
pened if you’d been given
this same choice 10 years
ago.
Let’s assume a typical
situation: The bank was
willing to lend you $20,000
for 25 years but insisted you
choose between interest
plans. In one, the rate you’d
pay over the life of the
mortgage would fluctuate in
tune with the bank’s “prime”
rate.
The other plan was simply
the traditional fixed-rate
mortgage familiar to us all.
The variable-rate was set at
one per cent above the prime
rate, and would move up or
down, with the prime, main
taining the one-point spread.
The fixed-rate was set at
one-quarter of one per cent
more than the variable rate.
So, when you went to the
bank on that balmy summer
day in 1959, the prime rate
was 4.5 per cent. This meant
you could borrow the
mortgage money by paying
either 5.5 per cent under the
variable plan, or 5.75 per
cent under the fixed plan.
A look at the 10 years since
"the summer of ’59 is interest-"
ing. If you had taken the
fixed-rate mortgage, you’d
still be paying the 5.75 rate,
a real bargain in today’s
market. What’s more, you
could go on paying that low
rate for the remaining 15-
year term of the loan.
Did Sharon Tate Have A Premonition?
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Red-Haired Suspect Sought
LOS ANGELES (UPD—A’
manhunt for a red-haired
suspect in the mass murders of
actress Sharon ate and four
Napoleon
was astute
press agent
By JOAN DEPPA
PARIS (UPI) — Not many
visitors realize it, but much of
the monumental splendor of
Paris is due to Napoleon Bona
parte’s astute sense of public
relations.
The Arch de Triomphe, for
instance, is really a gigantic testi
mony to the greatness of Napo
leon, built with his personal
supervision. In the same cate
gory are the towering column
in the Place Vendome, cast from
1,200 cannons captured by Bon
aparte’s troops from France’s
enemies, the obelisk in the Place
de la Concorde brought back
from his campaign in Egypt, and
much of the statuary that adorns
the exterior of the Louvre.
“I permit you to compare me
to God,” Napoleon wrote to
Baron Vivant Denon—by title,
Director of Fine Arts, in practice,
the Emperor’s public relations
chief.
The grandiose order is dis
played at the Bibliotheque Nat
ionale (National Library) and
evidence of how well it was
carried out is part of an even
more impressive exposition at
the Grand Palais, just across the
River Seine from the Emperor’s
tomb.
There hangs the overpowering,
larger-than-life portrait by Louis
David, the most gifted of the
artists Vivant Denon commis
sioned to glorify Napoleon. It
shows the Emperor much as he
must have seen himself, seated
majestically on his throne, omni
potent as an Olympian god.
There is the crown Bonaparte
had made for his coronation,
eventually discarded in favor of
gold laurel leaves; huge allegoric
paintings of his great battles like
tableaux from Greek mythology;
and the magnificent gilt bassinet
built for his son, the infant King
of Rome.
And there, to show the real
stature of the man, are the
braided jackets he wore as a
young soldier and Premier
Consul, so small they look like
they could have been worn by a
child.
Napoleon and his admirers
started his “PR” campaign early
and their main concern seemed
to be impressing the common
people.
Napoleon Featured
Early paintings of the Arcole
bridge battle, the first important
victory of Napoleon’s career,
showed both Bonaparte and a
nother officer leading the charge.
Later painters were encouraged
to use artistic license and showed
only Bonaparte carrying the vic
tory banner.
The Bibliotheque exhibits
show both types of Arcole paint
ings, hung side-by-side, and what
could be described as the layout
of the Napoleonic advertising
■campaign.
Temperature Tolerance
A University of California
professor subjected himself
to an average temperature
of 250 degrees Fahrenheit
for 14 minutes and 32 sec
onds. This is said to be the
highest outside air tempera
ture ever tolerated by a
human beine.
Other* have dkcovered
IT IS HOT
H buy on pri** ******
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otner persons spread through
western Canada today.
Thomas Steven Harrigan, 23,
was described as a “hippie
type” and a known narcotics
addict by Los Angeles police,
who said he was wanted for
murder.
Also sought were three other
“hippie types” believed travel
ing with Harrigan somewhere
in the Canadian provinces of
British Columbia and Alberta.
Harrigan’s traveling compa
nions were Identified as Charles
Tacot, Harris (or Harrison)
Dawson, and William Doyle.
Harrigan reportedly attended
a party the night of the
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CARPETS of Griffin, Inc.
116 SOUTH SIXTH STREET GRIFFIN, GA.
By DICK KLEINER
West Coast Correspondent
HOLLYWOOD—(N E Al
li was just a creepy story,
when Sharon Tate told it to
me early in 1966. But now,
three years and five mur
ders later, it has acquired
something more than creep
iness.
She was a starlet then.
Sensational to look at. They
thought she was going to be
a big star. Maybe she would
have been. Maybe not. Any
how, in ’66, she was a girl of
promise.
But there was something a
little strange about her.
Everybody noticed it. They
thought, at the time, that it
was because her first fea
ture was an oddball terror
thing called “13”—later they
changed the title to “Eye of
the Devil”—and maybe she
was taking her work home
with her.
You could look at her for
hours. And listen to the nutty
stories coming out of that
beautiful head. I like stories
of the supernatural. She
massacre at the secluded home
leased by Miss Tate and her
husband, film director Roman
Polanski.
Homicide detectives would
say only they are investigating
the “narcotics aspects" of the
perplexing case. However, re
ports mounted the grisly
slayings were connected with
Q — According to Indian
legend, what river was
formed from tears of sor
row?
A — The Amazon, formed
when the moon wept be
cause she could not marry
the sun.
knew that, and she had one.
It involved Jay Sebring.
And the house in Benedict
Canyon.
No, not the house where
she and Jay were killed. That
was on Cielo, just off Bene
dict. But the houses can’t be
much more than a mile
apart.
Sharon used to date Jay.
This was before she met
Roman Polanski, the man
she married. She and Jay
went together for a long
time. Jay had just bought
the house in Benedict
Canyon.
It had once been owned
by Paul Birn. It was into
that house that Birn had
brought his bride, Jean
Harlow. And it was in that
house that Birn had com
mitted suicide.
The beautiful girl told the
story, calmly, matter-of
factly. It seems that Jay
was in New York on busi
ness. And Sharon was be
tween apartments. She
called Jay and asked if she
could stay in the house. Os
course she could.
drugs.
The Los Aneeles Times
reported that friends of the
victims told detectives that
narcotics were delivered to the
home for the use of two of the
victims, Polish film director
Voityck Frokowsky, 37, and
coffee heiress Abigail Folger,
26.
Kentucky fried thicken
"READY WHEN YOU ARE"
She was there that night.
That dark night. She was
alone. She wasn’t usually
spooky, but for some reason
she was that night, in that
house. She kept a light on,
by the side of her bed.
“I saw a creepy little
man,” Sharon said. “He
looked like the pictures I’d
seen of Birn.”
She ran downstairs.
When she got downstairs,
she wished she was still up
stairs.
“I saw a vision of someone
tied to the staircase,” she
said. “It might have been
me. It might have been Jay.
Whoever it was, it was cut
open at the throat.”
She needed a drink, for
nerve - steadying purposes.
She didn’t know where the
bar was. Something told her
to open a bookcase. Inside,
there was a hidden bar. She
poured a shot.
There was some wallpaper
below the hidden bar. For
some reason, she picked at
it, tore it away. It covered
a lovely copper base to the
bar. She wondered why it
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had been papered over.
Strange, how the mind
works. Worrying about
things like that when ghosts
are wandering around up
stairs and mutilated bodies
are tied to the staircase
downstairs. She thought it
must be a dream. She de
cided to find out and went
back upstairs. The body—
(Could it be her, could it be
Jay?)—was still tied to the
stairs. The creepy little
man was still prowling
around upstairs.
She went to bed and some
how slept.
When Jay came back, the
next morning, he woke her.
She remembered the events
of the night before. It must
have been a dream—but. ..
“Hey,” he called, “who
tore the wallpaper off by the
bar down here?”
No dream.
But three years later, a
mile up the road, a night
mare. She and Jay both
killed. Both stabbed. Three
others k !l led, too.
(Newspaper Enterprise Assn.)