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HomeMy WebLinkAboutThe Wingham Advance-Times, 1984-07-18, Page 16Page 4—Crossroads—July 18, 1984 High Pressure Salesmanship "Saving a penny" has come to be considered old fashioned, if not worse. People in the United States have been persuaded by ad- vertising that they must con- sume rather than save. Now that idea has been discarded as consumers south of the border are urged to spend the penny before it is even earned. In keeping with this live - for -today attitude of many in the United States, most auto- mobiles are bought on time, Canada's Business by Bruce Whitestone and, of course, almost all houses are purchased with small down payments and large mortgages. Neverthe- less, in view' of rising prices and expensive interest charges, the supply of con- sumers who could be per- suaded to make time Pur- chases has become exhaust- ed. The instalment stop -gap can no longer perform its service as the credit of con- sumers has been depleted. Under these circum- stances, the ingenuity of U.S. high pressure salesmanship has provided a new tech - Mainstream Canada A shabby way to wind things up By W. Roger Worth - Canada's politicians would haveus believe they have tough jobs. After all, why else would ordinary taxpay- ers be prepared 'to pay federal members of Parlia- ment a compensation pack- age worth more than $60,000 a year, complemented by a frightfully expensive pension plan valued at more than $1 - million for individuals hang- ing in for more than 15 years. Using logic that is well un- derstood in Ottawa, our MPs would have us believe they are well worth every taxpay- er "dollar they vote them- selves, and indeed many claim they could earn much more money if they worked in the private sector. Perhaps they are right. But juding by recent events in the nation's capital, it is difficult to envision a major company or union putting up with thekind of leadership we have been getting from our 282 MPs. Consider what was happening (or wasn't happening) as Parliament was winding down for the summer recess. ',Competition legislation that has been in the works for more than a decade was supposed to be passed. It wasn't. Bankruptcy legislation that would have helped. smaller firms, placed some controls on receivers and provided greater support for employees of failing com- panies was ready. It wasn't passed. Finally, important legisla- tion that would have simpli- fied tax matters (and saved badly needed cash) for smaller companies has been shelved, at least until the ex- pensive parliamentarians come back from their two- month break. While these are only three of a number of issues left hanging at the end of the parliamentary session, the lack of action provides some insight into the haphazard planning that exist- among politicians and their parties. It's true, the Liberals did have to hold a leadership convention- this spring. But suggesting Parliament should grind to a crawl for the duration of the leader- ship exercise is akin to claiming a man (or woman) can't . dig a ditch and chew gum at the same time. The fact is, federal politi- cians of all political stripes have become so involved with polls that pre-election jockeying for better party position has overridden any thought of being responsible and passing badly needed legislation. It may indeed be true that a politician believes his or her first job is to be re- elected. But in fact, our representatives are paid to represent our interests in Parliament, enacting legis- lation that will hopefully benefit all Canadians. Of late, they have been letting us down. In business Thanks to a USC $50 interest-free loan, Rokiya Hashruddin and her hus- band buy and process rice for market, increasing their family income by $260 a year. Enough to cover basic needs and save. Enough to break the' pattern of poverty, Please send vjSCCAN contributions to: USC _. Canada rn Founded by Dr. Lotta Hitschmanova,C.C., in 1945' Managing Director: Raymond ven der Buhs .d To. USC!--,- 56 Sparks . Canada Ottawa, KIP 5B1 My contribution $ is enclosed. (Postdated cheques welcome) Mr Mrs Miss Ms Address (Please print and indicate apt no and postal code) Registration number 006 4,758 09 10 nique — adjustable rate fi- nancing. (Lis to be haped that this idea does not catch on in Canada.) The idea of adjustable rate financing, as applied to mortgages, is simple: Interest rates are not frozen; instead, they are pegged to some other in- terest rate that moves up or down as conditions in the credit market change. The mortgage rate might be equal to two percentage points above the rate on one- year Treasury bills. Then, depending on the wording of the contract, the mortgages may be adjusted at certain intervals. In other cases, there may be build -in rises, so that after a few years as rates move up, presumably, the income of the purchaser grows.. , Part of the assumption is that a buyer will be able to absorb such increases. As Ronald Seagraves, president of the Security Savings and Loan Association said, "It is the American way to assume that people's incomes are going to move up." The con- nection between incomes, in- terest rates, and inflation does not appear to be follow- ing the traditional patterns, however. Interest rates are unusually high in relation to inflation, and wages are going up more slowly than interest rates as the econo- my is running out of liquidity or real money. The strength of the current boom in houses, therefore, must be considered some- what artificial because it re- flects unsustainable promo- tional practices. Consumers are accepting the risk of higher mortgage payments, but they are also tending to borrow more against the equity (net value) in their houses to fund current con- sumption. In addition, many institutions are lending money ,for the construction of apartment houses and of- fice buildings as they are willing tdx gamble that they will re eive higher interest payments at a later date. Compounding the problem are variable loans for cars and big durable items. Con- sumer loans are being offer- ed which do not provide for the potential for steep in- creases in a customer's monthly charges, as monthly payments are fixed. If inter- est rates rise, the buyer sim- ply pays for a longer period of time; obviously, repay- ments could stretch out.sig- nificantly. If interest rates, were to fall, pay back time would be shortened. Adjust- able loans permit an exten- sion of credit which other- -- wise would not be available. The U.S. public seems willing to gamble withad- justable rate mortgages and variable loans. Often, very low interest rates act as ini- tial lures. The cheap initial rates and monthly payments that go with them have made many houses appear afford- able and the variable loan fi- nancing has had the same ef- fect on many consumer pur- chases such as cars. All of this makes it in- creasingly likely"that a sev- ere "boom and bust" cycle is being allowed to develop. Given the illiquidity in our fi- nancial system, there will be a sustained rise in interest rates, but wages will not rise commensurately. Therefore, a collapse in the market for . housing and major durables is becoming a real possibili- ty. 1 To place your action ad in Crossroads classifieds, Call: The Listowel Banner, 2919.1660 The Mount Forest Confederate, 323-1550 The WIngham Advance -Times, 357-2320 The Milverton Sun, 595-8921 CLEARING AUCTION SALE We have been instructed by the owners MR. AND MRS. GEORGE KEIL to disperse by Public Auction; Business Warehouse, Four Bedroom Home, Automobiles, Antiques and Furniture on • Victoria St. in Gorrie, Ont. Sat., July 28 10:00 a.m. Sharp REAL 'ESTATE: , WAREHOUSE: 54' x1'6'88' all steel construction with concrete floor; built to comrKercial regula- tions, elect, overhead door, 200 amp. service, additional single car garage. LOT: Plan 276, Lot 1 and 2 Victoria St., Gorrie. HOUSE; 4 bedroom, 2 storey older home, in- terior newly redecorated, 4 pc. bath, new carpets, electric heat, drilled well, new 200 amp. service, aluminum storm windows, attach- ed garage and wood shed, large lot on Maitland River,south part of. Lot 150, Victoria St., Gor- rie. TERMS: $3,0,00 .cash or certified cheque day of sale, owner will hold mortgage for 1/2 of sell- ing price at 10%. Open 3 year term. FURNITURE: 11,000 BTU air conditioner; queen size bed and mattress; two twin size beds and mattr'e'sses plus dressers; macrame wall hangers; bags of cotton quilt patches; knit- ting machine; lamps and shades plus chair; dishes; small appliances; 30 cup coffee maker; meat slicer; ceiling fan; garden tools; large gold carpet; Meyers fully automatic water condi- tioner. AUTOMOBILES: 1975 Olds Delta 88 converti- ble, white with red leather interior, loaded, V8, p.w., p.l., p.s., p.b., p.s., 50,656 miles, not certified; 1976 Ranchero, black with silver strip, V8, p.s., p.b., 61,613 miles, not cer- tified; 1976 Cadillac Eldorado "convertible, black, with black leather interior, completely loaded, 46,700 miles, not certified; 1979 Cadillac Fleetwood, yellow with crushed velvet interior, loaded, 81,923 km., not certified. TERMS ON AUTOMOBILES: $500 down, .balance on possession. ANTIQUES: New Star barrel stove with ceramic inserts; antique dining room set, 5 piece; spin- ning wheel. MISC.: Sweden ice cream machine No. 362; 3 grocery centre aisle 8 x 4 ft.; 2 metal wall shelving; 2 fire extinguishers; 5 x 3 fluorescent° outside sign; Neon sign for parts; house trailer furnace; space heaters; 90 gal. oil barrel with stand and stove oil; fireplace insert; fluorescent yellow bulbs 10 ft.; 2 picnic tables; 2 x 4's; 48 cedar rails; movie projector and screen. TRACTOR: Bolen 14 h.p. tractor; roto tiller; garden trailer. - TOOtS: Sears Craftsman radial arm saw; chain saw; garden tools. TERMS: Not Responsible for, Accidents. All an- nouncements made the day of auction takes precedence over any and all printed material. All information contained herein • derived from sources believed to be accurate but not guaranteed by Cletus Dalton Auctions. Proprietor: GEORGE AND FRANCIS KEIL (519) 335-3545 Auctioneer: COL. CLETUS DALTON Agent for Agropole Realty Ltd. '(519) 529-7420 '3, MAITLAND MANOR ,, vE" FARM "Inbeo99 '5TH PRODUCTION SALE Of Purebred Yorkshire & Landrace Boars & Gilts Selling 45 Bred Gilts and Sows due within 5 weeks; 30 Open Gilts; 35 Boars Serviceable Age. Some of the Boars and Gilts from our new High Health Status herd will remain at tome and will be sold by Video: The herd at home is classified GOOD` * under the Ontario -Swine Herd Health Policy.. Remaining animals being sold live are from our conventional herd. Some of the Boars in the sale are listed below: York 425R 10.6 mm BF 152 days; Landrace 441 R 12.1 mm BF 139 days; York 543R 12.3 mm BF 139 days; Landrace 362R 11.8 mm BF 139 days; Hamp Duroc 95S 10.6 mm BF 140 days; Hamp Duroc 11.5 mm BF 133 days. Sale being held at Carson's Sales Arena, 1 mile east of Listowel on Highway 86 on Wed., July 25 7:30 p.m. For further information or catalogues contact: DON HENRY Bluevale 335-3240 BOB RICHARDSON Herdsman, Bluevale 335-3240 Auctioneer: DAVID CARSON Listowel 291-2049 AUCTION SALE Of Automobiles, Vehicles, Antiques & Collectibles, Some Dishes & Appliances for RONALD & KIM PARKS Lot 1, Con. 14, Minto Twp. Located on Hwy. 9, 1/4 mile north of Teviotdale on Sat,, July 28 11:00 a.m. - HORSE VEHICLES: McLaughlin 1899 side spring, jump ° seat buggy; German 2 horse sleigh 1,830 Dato, hand crafted original, both are museum pieces, • completely restored; some buggy and cutter parts; steel tire wooden wheel wagon with box; double trees and neck yokes. ANTIQUES FURNITURE: Pine large corner °open shelf cupboard, Napanee style (good); Victorian Chippendale style chesterfield and chair; Victorian 4 piece settee, platform rocker, arm chair and ladies' chair, brocade upholstered (good); 2 approx. 5' pine top harvest style tables; drop leaf, barley twist leg table; small barley twist leg table; cherry drop leaf table; 3 parlour tables; bake table; Eastlake sideboard with high back shelf and mirror; Bur- rell walnut inlay top tea wagon; Victorian arm chair (ornate); wash stand with towel end bars; chest of drawers with wooden pulls; high head wooden bed (double); chest of drawers; dou- ble size iron bed; pine cradle; Cresent mid 1800's cast base barber's chair, restored, complete; Bowmanville pump organ; china cabinet with wooden double doors; Victorian style area rug 1 1',x 8' (rep.); hall runner; some bedding; old Irish linen table cloth 72" x 72", never used; bedroom set with comforter, pillow cases, curtains and round table cloth; pictures and framers; mirror. CLOCKS': Large black mantel session clock (working); small session black mantel clock (working); session wooden mantel clock; gingerbread New Haven clock (working); New Haven 40 hour kitchen clock; O.G. weight wall 'clock and gingerbread clock (both need ad- justing); granddaughter clock, as is. `LAMPS: Hanging weighted coal oil lamp, brass with painted shade (green); Victorian Pink Princess coal oil parlour lamp (good); Gone With the Wind Rayo coal oil lamp (all lamps complete); coal oil wagon lantern; 2 small coal oil dresser lamps (no chimneys); electric dresser lamps; Ferry Finger coal oil lamp (cracked). COLLECTIBLES & DISHES: Uncle Sam cast bank; brass Dutch carriage lamp; brass cutter bells; wall lamp brackets; irons; bronze trail bookends; copper pieces; some jewellery and watches; granite doe pan; glass; variety of good and everyday dishes; 15 piece canister set '(some cracks); 6 gal. crock; Blue Willow satin glass carnival glass; 2 oil paintings (no ' frames). AUTOMOBILES: 1971 Cadillac, selling as is (motor not running); 1970 Ford '/a ton pickup, 6 cyl., standard, running order, selling as is. TRAILER: Single horse trailer. APPLIANCES: Admiral 30" electric stove (harvest gold); 'Viking frost free refrigerator (harvest gold); comb. wood and electric stove; Gilson upright freezer; 17 cu. ft. chest freezer; Kenmore electric clothes dryer; Kenmore auto. washer (time cycle bad). MISC.: Philco colour console model TV; Singer electric cabinet model sewing machine; plants; airtight wood burning stove; assorted tools and misc. items. TERMS: Cash or cheque with proper I.D. -sale day. Owner or auctioneer not responsible for accidents or loss of property sale day. Any an- nouncements or corrections given verbally day of sale. Lunch booth. Auctioneer:' BOB GILMORE Victoria Ave. S., Listowel Phone 291-3489 AUCTION SALE Of Car, Horses & Equipment, Farm Machinery, Bilking Equipment, Some Househokffects & Misc. Items for JIM and DONNA BROWN Lot 22, Con. 1, Minto Twp. Located northwest back corner of Palmerston, turn at Pres. Church at Main St., watch for signs on Fri®, July 27 1:00 p.m. HORSES: Standard bred mare, trotter, broke single, with papers (March 1978); quarter horse x Arabian, gelding, saddle horse, well broke Western; jogging cart with new wheels and shafts; rubber tire buggy with wood spoke wheel, bicycle tires; shafts and frame sulky (no wheels); single axle, tandem, 2 horse trailer; single driving harness; double harness. MACHINERY: J.F. 165 diesel tractor with Allied 450 hyd. loader; Int. Farmal Super C tractor running . order; New Holland 268 hayliner baler (good); New Idea 135 bu. power spreader; Int. 3 pth. 3 furrow plow 12" bot- toms; 8' fert. spreader; Kongskilde 10' 3 pth. cultivator; 8' trail double disc; 6 sect. har- rows and stretcher; 3 section drag cultivator; Brady hay crimper; 10' chain harrows; Cockshutt 4 bar side rake on steel; Int. 15 disc seed drill, grain, fert. grass (steel wheels); Int. C27 hay mower, 3 pth.; Martin wagon with 16' flat rack (like new); Martin wagon with Zero grazing rack; farm wagon with hay rack; 3 pth. single auger 6' snow blower; 3 pth: 7' scraper blade; McKee harvester and pipes; grain aerator. • CARO 1974 Chrysler 2 door Newport, 68,000 miles, good cond., selling as is; 1973 Ford car, 351 motor (for parts). MILKING EQUIPMENT: Surge milker pump; pipe for 19 stalls; 2 Surge milker units; DeLaval electric Cream separator; stainless steel tank strainer; cow straps and chains. MISC. ITEMS: Beatty litter carrier, hoist only; 2 farrowing crates; quantity of 1" x 4" strapping; steel posts; heat lamps; 2 new Dashwood, sliding windows, thermo pane 55" x 39"; new combination 7' x 34" door; some asphalt shingles. HOUSEHOLD: Anada 2 door refrigerator; por- ;able Singer sewing machine; portable ')ypewriter; art. fireplace; sewing basket; vanity dresser with mirror; games; books; odd dishes. TERMS: Cash or cheque with proper I.D. sale day. Owners or auctioneer not responsible for accidents or loss of property sale day. Proprietor: JIM BROWN Phone 343-3149 Auctioneer: BOB GILMORE Phone 291-3489 TWILIGHT AUCTION'SALE'"'.1 Of Household Effects, Good Piano, Dishes, Garden Tools, Bedding, etc. for JOHN H. CALDER 116 Byeland'Drive, Mount Forest, Ont. on Wed., July 25 4:30 p.m. Sharp HOUSEHOLD EFFECTS, PIANO: Mason & Risch-apartment size piano and bench, approx. • 20.years old, in real good clean condition; G;E. 30" harvest gold electric stove, self-cleaning oyen, in real good condition; Electrohome 26" cabinet model color TV set, good clean condi- tion; Electrohome AM -EM cabinet model stereo, good; 3 cushion chesterfield and mat- ching . chair, good condition; 2 cushion bed chesterfield, good; gold colored recliner chair, good; 2 good matching end tables; older model fridge, good; chrome table, 6 chairs, good; double wooden bed; 2 matching night stands; 5 shelf whr +-not, good; modern type china cabinet, rounded glass doors, cracked; fumed oak dresser and mirror; fumed oak 5 drawer chest of drawers; double wooden bed; com- plete; older model couch and chair; painted parlour table; coffee and end tables; homemade bookcase; 9 x 12 shag carpet;;; 17" B&W TV set, working; good plant stand; old hall tree; 2 violins and cases; guitar and case; clothes hampers; good swag lamp; pole lamp; matching living room lamps; Remington manual typewriter; magazine racks; cedar chest, good; foot stools; card table and chairs; old crib; old high chair; odd wooden chairs; a lot of picture frames, etc.; portable Singer sewing machine, good; CCM exercise bike, like new; rowing ex- erciser; dehumidifier, good condition; bedding, blankets, linens, etc.; old books; old bottles; odd electric clocks; a lot of pots, pans, baking utensils, roasting pans, se_ alers; - 2 crocks; 2 coal oil lamps; small odd electric lamps; old toilet pitcher, good; old candy jar; good fruit bowls, some with nappies; depression cookie jar, lid, cracked; odd Noritake pieces; candle holders; water pitchers; flower vases; approx. 50 cups and saucer's; pickle dishes; odd butter dishes; a large offering of everyday dishes, etc.; Tupperware; a lot of ornaments; salt and peppers; water glasses; various cameras, working order; metronome; spoon racks; wall plaques; a lot of records; other good household effects not listed. GARDEN HAND TOOLS, ETC.: Lawn Boy s.p. lawn mower, in real good condition; 2- bicycles; 2 wooden'step ladders; roll snow fence; laun- dry tubs; pile, of odd lumber; extension cords; fertilizer spreader; garden fence wire; small hand tools; small boxes nails, etc. TERMS: Cash sale day, -cheques with I.D. only. House sold. Good clean offering. Piano will be sold at 7:30 p.m. Mr. Calder has moved to Senior Citizens. Proprietor or Auctioneer not responsible for accidents, injury, deletions or loss of property sale night. For more informa- tion call: LINDA CALDER 323-1915 Auctioneer: JOHN Oe McPHEE Mount Forest 323-4058 d