Page 2-Saturday. May 27, 1978--The Mich
rate up to 8'/2%
ARE YOU SURE YOU KNOW
WHAT FAMILY PLANNING IS ALL ABOUT?
NEW YORK (AP)-Several of the
nation's largest banks yesterday raised
their prime interest rates to the highest
level in more-than three years, inten-
sifying upward pressure on mortgages
and other consumer loans.
The latest round of increases, which
raised the primne rate from 8 and one-
quarter percent to 8 and one-half per-
cent, was the second this month.
THE PRIME rate is the interest
banks charge to their most creditwor-
thy customers, usually corporations.
Although it is not directly tied to mor-
tgages and other consumer loans, the
prime rate exerts a psychological effect
on those loans, which already have
been on the rise in most areas.
The prime is now at its highest level
since February 1975.
Continental Illinois National Bank &
Trust Co. of Chicago, the nation's
eighth-largest commercial bank, was
the first bank to raise its rate to 8 and
If you think it means preventing
unwanted pregnancy ... you're
partly right. But it means more
than that. Like counseling young
people about how a baby before
they are ready can affect their
health or mess up their lives ...
helping couples who want to have
children but can't . . . counseling
men on male responsibility and
methods of birth control.
It's important to know all about
family planning... it means more
than you may have thought.
For information or help, contact
the family planning clinic in your
community, your local health
department, oryourown physician.
U S DEPARTMENT OF HEALTH.
EDUCATION AND WELFARE
Public Health Service
one-half percent, making its announ-
cement Thursday afternoon.
CONTINENTAL officials attributed
the increase to stronger demand for
loans and tighter monetary policy by
the Federal Reserve Board.
The Federal Reserve, concerned
about the high rate of inflation, has
been tightening the money supply by
raising the interest rate it charges
banks. Banks say they must pass on to
consumers that higher cost of acquiring
"We continue to experience very
strong domestic loan demand from
customers, as we have over many mon-
ths," said Robert E. Anderson, the
bank's chairman. "We are finding that
this demand is broad as well as deep,
cutting across all industry and
BY MIDMORNING yesterday,
several other banks had raised their
prime rates, including Chase Manhat-
tan Bank, the nation's third-largest
bank; Manufacturers Hanover Trust
Co., the fourth-largest; Morgan
Guaranty, the fifth-largest; Chemical
Bank, the sixth-largest; Bank of New
York; First Pennsylvania Bank of
Philadelphia; and Mellon Bank of Pit-
But Citiebank, the nation's second-
largest bank and generally the leader in
prime rate changes, said it was holding
at 8 and one-quarter percent.
THIE MICHIGAN DAILY
volum I.xxxs' N.o .9-S
Satur day. May 27, 1978
s edited and managed by students at theEUniversity
.,C e;-i r.. T-- nh - 7rd_1rF ',nnni d lC
Church Worship Serie
ANN ARBOR CHURCH OF CHRIST
530 W. Stadium Blvd.
(one block west of U of M Stadium)
Bible Study-Sunday, 9:30 a.m.;
Wednesday, 7:30 p.m.
Worship-Sunday, 10:30 a.m. and
6;00 p.m. -
Need transportation? Call 662-9928:
502 W. Huron-761-2418
Sunday, 10:30 a.m.-Memorial Day
walk thru Matthaii Botanical Gardens
(meet at greenhouse at 10:30 a.m.) .
"One should cultivate letters or his
1511 Washtenaw Ave.-663-5560
Alfred T. Scheips, Pastor
Sunday Service at 9:15 a.m.
Mini-course, "Reformation Roots"-
Thursdays at 7:30 p.m.
* * *
* * *of Michigan. News phone 764-0562. secon ca
** * * FIRST PRESYTERIAN CHURCH postage is paid at Ann Arbor. Michigan 4810
UNIVERSITY CHURCH OF CHRIST CAMPUS CHAPEL-A Campus 1432 Washtenaw Ave. 662-4466 P Pbi hed da iy Tuesday though Sundayrd esr
Presently Meeting at the Ann Arbor Y, Minisryno the CiindeghUniverssiy year aia420Maynard Sieels
53Prsetyeen, Ministry of the Christian Summer Worship-9:30 a.m. Sunday. Ann Arbor, Michigan 48109.S ubscription rate'
539 S'Fjfth Reformed Church $12 September through April (2 semesters)i:$13
Minist. mai suiside Ann Arbor
David Graf, Mist1236 Washtenaw C't.-668-7421 * * * Saummersession published Tuesday through Satu
Students Welcome. Rev, Don Postema, Pastor day morning. Subscription rates: $6.50 in Ann Arbor
For information or transportation: y$7.> by mail outside Ann Arbor.
003-3233 or 420-3908. Sunday Services at 10 a.m., 6 p.m. FIRtST CONGREGATIONAL CHURCHI _________________
10:00 a m-Sunday Wrship.Coffee hour-l 1:15 a.m. Rev. Terry N. Smith, Senior Minister
* * * * * * 608 E. William, corner of State
ST. MARY STUDENT CHAPEL Worship Service-10:30 a.m.
FIRST CHURCH OF CHRIST, (Catholic) 331 Thompson-663-0557 Sunday Morning Worship-10 a.m.
SCIENTIST Weekend Masses
1833 Washtenaw Saturday-10 m. AMERICAN BAPTIST
Sunday Services and Sunday School Strdybp'm MRCA ATS
-10:30a.m. Sunday-7:45 a.m., 9 a.m., 10:30 CAMPUS CENTER AND
Wednesday Testimony Meeting-8:00 a m., noon, and 5 p.m. FIRST BAPTIST CHURCH
* * * 502 E. Huron-663-9376
p.m. UNIVERSITY REFORMED CHURCH O. Carroll Arnold, Minister
ChildCareSunday-under2years. 1001E. Huron Paul Davis, Interim Campus Minister
Christian Scienc Reading Room Calvin Malefyt, Minister Worship-10 a.m.; Bible Study-11
206 E. Liberty, 10-5 Monday-Saturday; . 10:00 a.m.-Morning Service a.m.
closed Sundays. 6:30 p.m.-Informal Worship Fellowship Meeting-Wednesday at
UNIVERSITY CHURCH * * * 7:45p.m. * * * give t0 the
OF THE NAZARENE LORD OF LIGHT
409'S. Division LUTHERAN CHURCH FIRST UNITED METHODIST MARCH
Steve Bringardner, Pastor (the campus ministry of the ALC-LCA) State at Huron and Washington OF
Church School-9:45 a.m. Gordon Ward, Pastor Dr. Donald B. Strobe
Morning Worship-11:00 a.m. 801 S. Forest at Hill St.-668-7622 The Rev. Fred B. Maitland DIMES
Evening Worship-6:00 p.m. Sunday Worship at 10:00 a.m. The Rev. E. Jack Lemon
* * * * * * Worship Services at 9:00 and 11:00.
UNDERGROUND CATHOLIC UNITY OF ANN ARBOR Church School at 9:00 and 11:00.
COMMUNITY Sunday Services and Sunday School Adult Enrichment at 10:00.
921 Main St., Apt. No. 25 -11:00 am. WESLEY FOUNDATION
(corner of Hoover St.) at Howard Jonhson's 2380 Carpenter Rd. UNITED METHODIST
769-6054-Arthur Arroyo Dial-a-Thouglit: 971-5230 CAMPUS MINISTRY
A radical, liberal band of Christians Where people of all ages learn to ex- 602 E. Huron at State, 668-6881
recreating their Catholic tradition to press their inner potentials. For more Rev. W. Thomas Schomaker, Chaplain
blend with the times in which we live. informationrcall-971-5262 - ' ' Rev. Afne Broyles; Chaplain
May 17th. , 10:30 a.m. pus community.