The gamecock. (Columbia, S.C.) 1908-2006, April 17, 1978, Page Page 2, Image 2
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