Newspapers / The Franklin Times (Louisburg, … / July 17, 1969, edition 1 / Page 4
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The Frajkjfh Times K??ry To?t4?r A TlwrMby AM Of Pr**fcl?i Cwt> Your Award Winning County Newspaper LOCAL EDITORIAL COMMENT Let's Enjoy What We Have Three Americans are well on their way to the moon today and if the smooth operation continues will set foot on the lunar surface early Mon day morning. People across the globe are glowing with pride at what pro mises to be one of man's greatest feats. But as so often has been the case in recent years, there are distractions. The so-called Poor People were at Cape Kennedy Wednesday for the launch. Th^ money spent on space exploration should have been spent on them, they said. In an area of Florida where motel rooms range up to $100 a day, the Poor People could afford to go. Millions of working Americans were content to be able to grab a glimpse or a sound of the blastoff while staying on the job. The publicity seeking Poor seldom miss a chance to be seen before the television cameras. And the TV net works seldom miss a chance to show all America the pitiful Poor. And the Kennedy publicity agents have their adrenilin worked up to a fever pitch. Teddy is crying for Poor as always -he has such an under standing of the national movement. While the Madison Avenue boys are digging up every statement John Ken nedy ever made pertaining to space, his brother is talking out of the otfier side of his mouth. Perhaps the height of poor taste came in this morning's daily news papers where it was reported that JFK is "watching the moon shot from his rocking chair in heaven". This kind q|f publicity is a new low, even for the Kennedys. The fact that man is even making a serious attempt to land on the moon is one of the great compliments of our time. Three gallant adventurers are on their way. Their success will be regis tered in history far above the dis tractions which have accompanied its beginning; There are undoubtedly many things this country needs and there are few people who could not have used a tiny portion of the $24 billion spent on space, but the committment was made and the people have reason to be proud that it was. Wars, poverty and sickness have been with man since the beginning. He may someday solve some of the rea sons for all three although he has not done so up until now. Meanwhile, however, while we work to eliminate these plagues, man must also continue to explore his world. Many wonderful things have been discovered and in vented over the years and the fact that we are unable to make this a perfect world should not be allowed to keep up from accomplishing those things which we can accomplish. And the sooner the professional Poor People join in these efforts and perhaps bring along some others who denounce instead of support their country, the more likely we will be of success in fields other than space. For the moment, let's enjoy what we have. WHAT OTHERS ARE SAYING Truth In Lending Bill The News Reporter, Whiteville, N. C. The recently adopted Truth in Lending Bill does much to inform the borrower but it does not go all the way. The last step, however, can be figured out by the borrower if he is of a mind to work out just how much in interest and principal he will pay back eventually. In too many instances, buyers of homes and automobiles, for two ex l amples, are not concerned with the combined interest and principal total. They want to know the payments and thus figure out for themselves if they can meet the monthly or even annual payments.; Financial Analyst Sylvia Porter set the record fairly straight in a recent column . . . and it is well worth read ing and studying. She writes: If you buy a house with a $20,000 mortgage at 10 per cent annual inter est for 30 years-a "cheap" rate these days-you'll pay in interest alone $43,186 over the life of your mort gage. You'll pay back on the $20,000 loan a total of $63,186. If you buy this house with the same $20,000 mortgage at 10 pwr cent but for 25 years, you'll p^y in interest alone $34,522. Your repayment on a $20,000 loin will come to $54,544. If you get the same mortgage at the same rate but cut the term to 20 years, your interest will come to $26,322. If you cut the term to 15 years, interest will come to $18,686--the only maturity at which the interest you pay is below the principal you repay. I Despite the fact that the Truth in Lending law became effective yester day, you Will NOT get this sort of vital information in your mortgage contract. A major defect of the law is that it does not require a lender to spell out for you the total dollar cost of your first mortgage over the life of the loan. You will be told the true annual interest rate you are paying, but there's nothing new about this. Most first mortgage contracts have always stated the annual rate. You will now also be told how much "points" or discounts charged to you are adding to the true annual rate. When these extra charges are included, a mortgage at an apparent 7 '/a to 8Vi per cent rate may easily become 9 to 10V4 and more. . But the real shocker, the dollar cost over the life of the mortgage, will not be stated and you will find out only if you ask or pursue it on your own. Nor will you know how much is being added to your finance charge by big fees for title searches and other services-again, unless you track this down. In this area, in short, you're not significantly better off than you have been in the past. Important as this information is at any time, it's crucial to your intellig ent financial decisions now. For instance, with mortgage rates so shockingly steep, you should try to keep the maturity of your loan as short as feasible. Notice that to ex tend your $20,000 mortgage for only five years, you're paying $8,664 extra in interest. Very long loans at today's rates are not good bets for borrowers. Also make the largest down pay ment feasible for you. In a period of historically high interest rates, borrow not one penny more than you need. Try to get the privilege of repaying your mortgage at no or minimum penalties. Prepayment then would be worthwhile should you get a cash windfall or should rates decline sharp ly Don't borrow via a mortgage to finance other short-term purchases. With rates at these levels, it would seem fiscal insanity to take out a 25-year mortgage to finance purchases which have a life of only a couple of years or to. AnjJ/ of course, if you now have a mortgage at the very low rates charged years ago, keep it as long as you can and invest cash you accumulate at today's much richer yields. "PRIVACY 19 [tfCDMiNd A RARE COMMCW fHBfc PA/?." Behold, Thou Art There THE RALEIGH TIMES CAPE KENNEDY ? America'* Apollo 11, with it* three astronauts, lifted off successfully this morning, heading for the moon to that mankind may walk for the firs': time on that distant surface. (From news stories). O Lara, thou hast searched me, and known me. Thou knottiest my downsittmg and mint uprising, thou understandest my thought afar off. Thou compasses t my path and my lying down, and art acquainted with alt my ways Whither shall I go from thy spirit? Or whither shall / flee from thy presence? If I ascend up into heaven, thou art there: If I make my bed in hell, beheld, thou art there. If I take the wings of the morning, and dwell in the uttermost parts of the sea; Even there shall thy hand lead me, and thy right hand shall hold me. If I say, rarely the darkness shall cover me; even the night shall be light about m?. Yea, the darknets hideth not from thee; but the night xhineth as the day, the darkness and the light are both alike to thee ... Search me, 0 God, and know my heart: try me, and know my thoughts: And see if there be any wicked way in me, and lead me in the way everlasting. (Selected from Psalm 139). O eternal God , who alone spreadest out the heavens, and rulest the raging of space; We commend to thy almighty protection, thy servants, for whose preservation in the great deep of space our prayers are desired. Guard them, we beseech thee, from ihe dangers of space, from sickness, from the violence of the unknown, and from every evil to which they may be exposed. Conduct them in safety to the haven where they would be, with a grateful sense of thy mercies; through Jesus Christ our Lord, Amen. (Adapted from The Book of Common Prayer). For Whatever Ails You The Butner-Creedmoor News For those who have wondered why tobacco has been singled out for advertising restrictions, if there really are such people, word has come out from Washington that another pro duct has been subjected to the Federal Trade Commission's war on Madison Avenue. The product is Geritol, the wonder drug that has been perking up tired blood and embalming taste buds for quite a few years now. Perhaps frustrated by its battle with tobacco companies and their puppet allies, tobaccoland Congress men, the Commission has picked on a weaker v.ctim. Unlike tobacco, there - is no great Geritol-producing belt that sends its Senators and Representatives to Washington. In 1967 the FTC required that the Geritol people warn its customers on each advertisement that, "the great majority of tired people don't feel that way because of iron-poor blood and Geritol won't help them." As if that were not enough to scare off all customers except illiterates and health nuts, the FTC further demanded that Geritol manufacturers quit claiming their product has "iron power." So far FTC commissioners have resisted the temptation to force Geritol to carry a notice, 'This is just a lot of slop that won't do you a damned bit of good." Despite the FTCs image of being a bunch of administrative thugs, we can't help but feel that there are many products advertised that make claims far more ridiculous than Geritol's. One can hardly work his way to the bottom of a box of laundry powder without the "New Improved" version appearing on store shelves. Having exhausted improvements, soaps are not on an additive kick, claiming that lemon-freshened sodium- X and others of its ilk will get your clothes cleaner than a Walt Disney movie. If v\e must occasionally witness a federal agency bludgeon some hapless patent medicine company, at least such regulation has ended the day that a man could bottle up some camphor of opium and label it "Farmer Jones' Universal Elixir for All Ailments of Man and Beast." One slug for me and two for my horse. Joe Sanders The Frarik)in Times Established 1870 - Published Tuesdays & Thursdays by The Frunklin Times. Inc. s Bickett Blvd. Dial U Y6-3283 l.ouisburg. N. C. CLINT FULLER. Managing Editor ELIZABETH JOHNSON, Business Manager NATIONAL EDITORIAL Advertising Rates Upon Request ASSOCIATION 1969 SUBSCRIPTION RATES In North Carolina: Out of State: One Year. $4.64; Six Months. $2.83 One Year. $6.50; Six Months, $4.00 Three Months. $2.06 Three Months, $3.50 Entered u iccond daw mail mailer and pottage paid at the Ptnt Office at Luunburg. N. C. 27549. COME TO m think OF IT..." by frank count "Ah, come on, Frank. Ain't nobody gonna see us. I want to show you the inside of this spaceship". That's what he said and that's what led to my downfall. I ought to of had better sense than to listen to old One-Eye Wonder in the first place, I hadn't seen him since we was in service together. Fact is, I'd lost track of him altogether until I sent to the Cape. I always had wanted to see them ask-her naughts take off and so I played like the paper sent me to cover the story. It didn't really. I just said that so I could get away from home for a few days. Ana tnere ne was. Old One-Eye, looking both ways at once there on the street corner. I'd a knowed him anywhere. "One-Eye", I said, "Man am I glad to see you". i 1 took him a while but he finally figured out that I won't old Shoot 'Em Again Schultz from Balti more. He said he always got us mixed up. I don't know why. Schultz shore won't pretty back then. "What you doing these days?", I asked my old buddy. "I'm with the space pro pram," he said. Well, sir. You could a knock ed me over when he said that. Old One-Eye with the space program. "You aint one of them ask-her-naughts are you?", I asked. He said he wasnt. That eased my mind a little. "You couldnt be one of them scienctists, could you?" "Naw", he said. Well, I kept picking out all the positions I could and Anally I just flat out asked him what he done. "I'm a hose hooker", he said. "Oh, that's nice," I said. A hose hooker. "What you hook 'em to?" I had to know. "I hook 'em to each other", he said, "Come on nd 111 show you." That's how I happened to be inside that spaceship. "What's this for, One-Eye?" I asked. "Don't touch anything, Frank", he said. "They wouldn't like it if they knowed I brought you in here for a look. This thing is ready to go. Aint nobody supposed to be in here. I wouldn't a brought you, but we have been friends a long time and you wanted to know what I do." "What about this red button, One-Eye-I aint gonna touch it-I just want to know why they got this little flap over it. Aint you supposed to preas it?" "That's the main button, Frank. The way I understand it, If you was to press that button, you'd be on your way to the moon. Be sure you dont touch nothing, Frank". "It's mighty crowded in here, One-Eye. A fellow could press a button by just breathing hard. Let's get out of here. I aint packed for no moon trip." "Just a minute, Frank. I want to show you what I do. See this hose right here. The blue one? Well, before each flight I hook this end to that other end over there. See? I hook K to that other blue hose over there." "That must be interesting work, One-Eye, hooking up all them hoses. That's a responsible job, alright. Bet you get paid plenty for knowing how to do that." "Oh, I dont hook 'em all, Frank. No sir. We got a union down here. I am a blue hose hooker. I can't mess with them other colors. You see, Frank, we got a red hose hooker and a green hose hooker and a black hose hooker apd a yellow hose hooker. I'm responsible for the blue hoae, Frank". "What goes through that blue hoae, One-Eye?" I had to aak. "I'm sorry about that Frank, but I cant tell you. It aint that I don't know, you understand, it's just that they wont lat us give out them secrets. You know how it is, Frank. Us government workers got to be careful who we talk to. Loose lips sinks ships. You know that Frank". C "Well, let's got out of here, One-Eye before I see something secret. I'm about to smother." ,1 "Be careful Frank. Look where you're backing. Frank, dont get close to that red button. Frank, watch out. Frank . . . n-o-w y-o-u g-o-n-e a-n-d d-o-n-e i-t . . . W-e'-r-* o-n o-u-r w-a-y t-o t-h-? m-o-o-n " Moon Mission TV Schedule NEW YORK (AP) <1 Here are the times for scheduled live television transmission! from the Apollo 11 command ship Columbia and the lunar module Eagle? all times Eastern Daylight: Thursday, July 17, at 7:0-7:47 p.m.? Tint transmission from the Apollo command ship. Color. Friday, July II, at 7:JJ-7:47 pm? Second transmission from the Apollo. Color. Saturday, July 10, at 4:01-4:17 p.m.? Transmission from the Apollo in lunar orbit. Color. I Sunday, July ?, at 1:8-1:8 p.m.? To show the unlocking and beginning of the descent of the lunar module. Monday, July 11, at 1:17-1:07 a.m.? Fran command module bi lunar orbit. Color. At 1:114:51 a.m. from the moon, showing astronaut Neil A. Armstrong setting foot on die moon and hamr activities of Armstrong and astronaut Edwin E. "Bun" Aldrtn Jr. Black and white. Wednesdsy, July 11, at 7:017:1* p.m.? Final transmission from ths Apollo en route to earth. Color.
The Franklin Times (Louisburg, N.C.)
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July 17, 1969, edition 1
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