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SECTION - PLA1NDEALER- FRIDAY, AUGUST 10,1864 BushMM NIGAS predicting a small rate hike Although a state official said recently that natural gas prices in Illinois may drop, a spokesman for Northern Illinois Gas said NI-Gas customers will probably see a small price hike. PWUip O'Connor, head of the Illinois Commerce Commission, said competition among tran­ sporters and large supply would drive gas prices down slightly, beginning in January. But Bob Edwards, a spokesman for Northern Illinois Gas Co., said that, based on current conditions, the prices consumers pay will probably increase between 5 and 10 percent in 1985. However, he added that pending legislation on natural gas deregulation could change that forecast. "We have seen the price of natural gas level off," Edwards said Thursday, but he added he sees some "small increases on the horizon.',' O'Connor, the chairman of the body that approves or denies rate hikes, said partial decontrol of gas suppliers and increased competition would result is lower prices. "The fact is, various doom­ sday predictions of large in­ creases in gas prices after the first of year simply fail to recognize that market con­ ditions will not support price increases in natural gas," he Ed Koska, a spokesman for People's Gas, which serves Chicago, said he was not sure hOw much gas prices would drop for the average howeowner. "Supply is excellent, and competition among transporters has brought their prices down, which means we pay less for it, and our customers feel the benefit of lower bills," Koska said. Edwards said NI-Gas also has an "ample supply" of gas on hand for the coming winter. Despite the probable hike for NI-Gas customers, Edwdrds said his company has some of the lowest rates in the country. Gen Tel seeks to charge for directory assistance Many financing options are still available General Telephone has filed a request with the Illinois Com­ merce Commission which would make changes in the company's d i r e c t o r y a s s i s t a n c e procedures. These changes would bring the company's policies more in line with other Illinois telephone companies. If approved, GTE customers would be allowed two directory assistance calls for locations within the area code each month at no charge. The current monthly allowance is five. Customers will continue to have a monthly two-call allowance for other area codes in Illinois and inter-state calls. Some customers in northeastern Illinois would be covered by another portion of this filing. The request also asks per­ mission to raise the price for calls over the allowance from 20 cents to 90 cents. The company requested an August 17 effective date for these changes. By Yvonne Beer, executive vice-president of the McHenry Coiuity Board of Realtors Although adjustable rate mortgages (ARMs) have ac­ counted for the majority of ealtors ECORD recent home loans, consumers should be concerned with ARMs that offer little or no protection against large increases in monthly payments. While many ARM plans offer such protec­ tion, and these plans are in the process of being standardized, there are also other financing options available to homebuyers. Seller-assisted financing is available from some homeowners who are willing to lend a buyer funds for a portion of the purchase price at generally below-market rates. A shared-appreciate mor­ tgage (SAM) provides the buyer a reduced rate loan in exchange for a share of the equity increase when the home is resold. A growing-equity mortgage (GEM) offers buyers a loan with fixed interest rate, but the monthly payments increase according to a regular schedule. A typical GEM may Increase seven to eight percent each year Interest earnings by state increased over last year State Treasurer James H. Donnewald reported that his office earned more than $170 million for the taxpayers of Illinois during Fiscal year 1984, an increase of 16 percent over the previous year's operations. Donnewald said the interest earned through placement of state funds in institutions over the entire state came on a base that averaged 22 percent higher than in fiscal year 1983. The average investment per month for the fiscal year ending June 30 was $1.8 billion. This con­ trasted with an average of $1.5 billion in fiscal year 1983. OODSTOCK JAMBOREE SUNDAY, AUGUST 26 on Woodstock's Historic Town Square 11:30 a.m. - 7:00 p.m. -- Woodstock, Illinois X --Plus-- •Peter, Mary & David Local Country Entertainers •The Woodstock Squares Local Square Dance Group TOOD, MUSIC* FUN FOR THE ENTIRE FA MIL Y •7.V2 Hours of Continuous Live Music and Entertainment on 2 Stages L^spoiy Rides, Moonwalk and Games for the Kids •A "Nibble of Woodstock" featuring fine foods •2 Shaded Beer Gardens •Refreshments Discover The Magnificent MUes of vr? OiWtnu-nf »» C- wwiw Comment v •was O** • »• T *#»sr' Sponsored by the Woodstock Square Promotional Group after six years, with the in­ creased amounts deducted from the loan principle. The end result is that the mortgage is paid off in about half the time of a 30-year conventional loan. Graduated-payments mor­ tgages (GPM) offer monthly payments that start out low and increase gradually each year for five or 10 years. This is par­ ticularly useful to buyers who expect increases in income in future years but would have difficulty with initial monthly payments. ' There are many variations to these plans and other financing options which meet the needs of certain individuals. If you have any questions about alternative financing methods, consult a realtor. / Increased lottery revenues fund many state programs Plans set for expansion of center A note of caution was added by Donnewald, however. He pointed out in his report on June operations that after three consecutive months in which the level of investible funds had risen to the $2 billion-plus range once again, the June average was down $198 million from the previous month of May. Similarly, Donnewald pointed out, the investment earnings on deposits for May declined $622,000 from the two-year-high mark of $16,486,974 achieved in May. The June earnings were $15,864,734. Plans have been announced for the development of the Crystal Point Annex shopping center in Crystal Lake. According to developers, Joseph Freed and Associates, of Chicago, 120,000 square feet of retail space will be located adjacent to the Crystal Point Mall. The project has an estimated completion date of the summer of 1985. The Illinois State Lottery's gross sales for FY 1984 reached $911,870,635, an increase of 77.1 percent over the previous year, according to Gov. James R. Thompson. '"Hie lottery is now the fourth largest state source of revenue for the General Fund, providing support for programs that benefit millions of Illinois citizens, Including education, health, human services, public protection, justice, natural resources and recreation," the governor said. The lottery's increased sales allowed education and other human services programs to receive $887.1 million in support from the profits in FY 1984. In FY 1984, the lottery created 67 millionaires, 25 more than were created in the previous nine years of the lottery history. REVIEW CLASSES Real estate students and professionals planning to take the Aug. 21 exams for brokers and salespeople may be in­ terested in attending one-day or two-day review sessions. The one-day class will be held Saturday, Aug. 18, at the Oxford House, 225 N. Wabash, Chicago. Dm two-day will be Aug. 18-19 at the National College ot Chiropractic, 200 E. Roosevelt Road, Chicago. Call (812) 886- 4444 for information. GIGANTIC SAYINGS CARPET CLOSE-OUT COMPLETE PRICE SALE STARTS THURSDAY, AUGUST 2,1984 ENTIRE INVENTORY CLEARANCE PRICED FOR IMMEDIATE DELIVERY 3000 Rolls and Roll Balances ' : Discounted 22 % to 56% During Maylak's Huge Carpet Close-out Sale tf tale prices Include carpeting, luxury padding, Installation and tales tax. HURRY! WHILE SUPPLY LASTS! " %§r 90DAYS SAME AS CASH Mfttk uaM aaai MaiM ft I ill JfPw I WW wWu REMNANT 1 BUY ONE ATUPTO 50% OFF AND SAVE ANOTHER 10°° OFF WITH MAYFAHt'S COUPON Fio" Hljiji BUY TWO ATUPTO 50% OFF AND SAVE ANOTHER s2500 OFF '10 \ CMIHT SUCKS Present this coupon at time of sale and save an additional $10.00 off on any remnant purchase of 199.00 dr more. - One coupon p4r customer. TIN DOLLAR COUPON WITH MAYFANTS COUPON mayfair'8 I*. '25 CARPET BUCK! 25 Present this coupon at time of purchase and save an additional S23.0Q OFF on any 2- remnant purchase or S1VM0 or more, limit one coupon per customer. Not applicable to prior ourchases, • - . itn i/wunn vwwrwn iwin»ithsuvi.ww wvrwiyyg a lgfl • » vwfcMn vvvrWKf ? JO Coupon expires Aug. 31,19I4„ IV J Coupon expires Aug. 31,1914 Coupon expires Aug. 31,1914 D ~~fUY THREE ATUPTO 50% OFF AND SAVE ANOTHER s5000 OFF / JBSSSSBSiSnSL w CARPET BUCKS *50 ***nt this coupon at time ot sale and S2S SchZTTii?0- 3 r,ffl I oanf .purchase of C9* or mfcr*. Limit orie • I ^Pjyustomr. Not -pp.lc.bte to' / IBA DOLLAR COUPOJfcgft 9V Coupon expires Aug. 31,1914 3"/ IN CRYSTAL LAKE 321 VftOMIA STREET (N.W.HWY., ROUTE 14) 1818)488-4870 •ML, *1, Thm. 10* UL-fcOO PJ. IemFrtiHWtHSM.114 A MEW CHOICE! » CRYSTAL LANE > Q Z X 2 IN PALATINE , % 1138 L NORTHWEST NWY. (R«t*S3«tRMt»14) (312)3884800 Baa.tlnFiiMIAJMMML SaL»UMML,Sw.U4 » , I k