University of South Carolina Libraries
S.C. nee< By ALY COVELL Gamecock Staff Writer The dominance of the textile industry in South Carolina's economy is a reason for problems in the state's real estate industry, according to a report published by USC's College of Business Administration. Authors Arthur E. Warner and Franklin J. Ingram said the state must strive for a greater diver sification of its economy by persuading other types of industries and businesses to locate in the state. The report also said the state must close the gap of interest rate^. between savings and loanassociations and commercial banks to allow a greater incentive for people to deposit their money in savinps anH lnnn nscnrintinnc Thp ~ ,W%"" M. more money channeled into savings and loan associations, the better off prospective homeowners will be, Warner said. "SAVINGS AND LOAN associations have almost all their i HE AS All prograi unless othe Is econo: investments in mortga&es," he said. Commercial banks, however, are able to make more lucrative investments and therefore are able to offer a higher interest rate to depositors. South Carolinians are more likely to transfer their savings to higher earning money and capital market investments, including stocks and bonds, during periods of rising interest rates. This change in investment, as well as "the pronounced cyclical sensitivity of South Carolina's employment base" are primary reasons that the state's real estate market fluctuations are among "the most volatile in the nation," the report said. These trends are based on thel "inrrfiasinalv rnmnptitivp rafpcl that banks have offered." "In the last two reporting periods, average commercial banks' savings yields have exceeded savings and loan association's rates in both the state and the nation," according to the rennrt - ? X - I South Carolina's usury law; LTH EM / n? are In the Russell rwiso Indicated min Hive V . 'f '" 'V' >i' ' ' places a nine percent ceiling on iportgage interest rates, while commercial banks can charge up to 18 percent interest on personal loans. THE * 1,AW is expected to be reviewed by legislators before ??|i DELIVERY 254-8800 1 ' .1 yrfBuOy IMM Mtpte. w 1 Mescal Roocpch. Hywlie the past 2 Wteeks mono, you week for 3 hours of your tt information. Moo. thru Fri. Scrok-gleals State l?5 2711 ColmnbU, L? ? IRICHf House Ballroom, Fr< Schedi Monday, April 17 Hiah T,pvp1 Wpllnpss ?O" ? 7:00 p.m. Keynote Spef JOHN TRAVIS, M.D. Mill Valley, Cal. Tuesday, April 18 Self Help 1:00 Gynecological Self-Exam 2:00 Independent Living fc dicapped 3:00 Eating Behavior & Weigl 4:00 Herbal & Folk Medicine 7:00 Keynote Speakei DICK GREGORY Friday, April 21 All Day Health Expo Green Street Mall Area and oi House Rain date: April 28 Health Exhibits by communit All day Film Festival Health Services (including Blood Pressure Screening, L Testing, Glaucoma testing, I etc.) Leisure Time Sporting Activi! Free Popcorn, Balloons Health Food Snacks Special attractions, events, shows For i 4172 rsity, rep June 30, 1979, when a temporary extension of the ceiling will expire. ' The report states a return to an eight. percent mortgage rate ceiling would have a "devastating i impact" on the mortgage markets under a given set of money market LI SUMMER STUDY IN NKW YORK CITY I IB Colombia University offers over 1$0 un- V 11 dtromduate. Graduate and Drofetslahftl A ictvool COUTSM. "Write for bulletin: Sunt ft *t??r Sewton. Columbia University, 102C H Low "library, N.Y., N.Y. 10027. x |H ^^^^^^^^SSSSSSI^SSSStSmSr Ififc IHwaihaily teaM in m t)am. or have had wttMa may qualify for $80.09 par me* Call 254MR37 for more I _ . . 9 WKWMBBfg S.C.2MEM iEMTV 99, and open to the pi ule of Ev< Wednesday, \\ Environmental 1:00 nuclear P iker: 2:00 Populatior 3:00 Impact of 4:00 Chlorinati 8:00 Colis< RALPH IS >r the Han- Thursday, Apr Sexual Health it Control 1 -9? Communi, ship 2:00 Healthy 1 *: tation 3:00 Drug Effe 4:00 Alternativ 7:00 Keynote utside Russell sex Th^rapis y agencies In addition ih Papmobile, workshops (9-E iUnc Canaoitv Mondav Mood Typing, High level w< Doctors, Drug: ty Displays Tuesday The Disintegra Thursday games and Sexual Aware Total Patient < more information call Open Door or 777-7174 >ort says conditions. "Additional study 01 tnis topic is now required if all the implications of such ceilings and their potentially adverse effects on real estate activity in the state are to be examined," the report said. * T?? OAMXCOCK Ij . the student newspaper of the UnivvrsHy of South Carolina and Is-publlefreQ^wtce weakly on Monday and Thursday during the fall and spring semesters and' once weekly on f VIVI ?V?7 UVI my Will wiiiiiiwi IVI ii*f Will! the exceptions of four times In August and . on University of South Carolina holidays and examination periods. | Opinions expressed in The Oamfeock are those of the editor* and not tho** Of the, University of South Carolina. The University of South Carolina is an equal opportunity Institution. Change of address forms, subscription requests and other correspondence should be sent to The Gamecock, Drawer A, USC, Columbia, S.C., WtM. Subscription rates are *4 p*r semester and $2 for the summer sessions. Third class postage paid at Columbia, S.C. * f I VEEK vblic \ >ril 19 Health ower: What's New 1 Expansion Secondhand Smoke fin Prnhlom nv Qnlnlinn V- M. m. vMiviu VI kjviuviuil sum, Keynote Speaker [ADER il 20 nation in a Sexual Relation Wew of Homosexual Orienicts on Sexual Behavior es in Childbearing Speaker, "Intimacy" t, Kinsey Institute Speaker L? iere will be three full day > p.m.) sllness: An Alternatives to S & Dispaco ition of the American Family ness as an Integral Part of Care at 777I