European Stars And Stripes, September 6, 1970, Page 20

Publication: European Stars And Stripes September 6, 1970

European Stars and Stripes (Newspaper) - September 6, 1970, Darmstadt, HessePage 20 THE STARS AND STRIPES Sunday, S*pt*mb*r 6, 1970 Stocks Climbed Third Week in Row By HOWARD LUXENBERGNEW YORK (UPI) — Grow- ing belief that interest rates willbe coming down soon helped lift the stock market for the thirdweek in a row, although it had to overcome early gloom result-ing from the threatened auto strike on Sept. 15. The Dow Jones industrialaverage, barometer of 30 se- lected blue chips, edged up 5.34to 771.15, while the New York Stock Exchange common stockindex gained 0.63 to 45.11. Stan- dard & Poor's index of 500stocks rose 0.97 to 82.83. Of 1,763 issues traded, 1,155moved higher, 463 declined. There were 64 new highs set, 17lows. Turnover aggregated 60,391,760shares, down from 78,669,190 shares last week, but well abovethe 35,615,140 shares which changed hands during the yearago period. The United Auto WorkersUnion chose General Motors and Chrysler as twin strike targetsin a move to reach a labor sett- lement with the nation's BigThree automakers before cur- rent contracts expire at mid-night Sept. 14. Alan R. Shaw, director of re-search for Harris, Upham & Co., said the threat of an auto work-ers' strike won't become a serious thing until the deadlineappears. Meantime, Shaw said, themarket is responding to a num- ber of other items, including be-lief that interest rates will be re- duced shortly and signs the eco-nomy is on a recovery path. Commerce Secretary MauriceStans said "we are at the point where interest rates can con-tinue to decline and the decline can persist without any big increase along the way." Newton Zinder, analyst for E.F. Hutton & Co., said Wall Street also took an optimisticview of the downward revision in capital spending plans bybusinesses for 1970. "It will give the Federal Reserve Board(Fed) a chance to lower interest rates which is what the markethas been waiting for," he said. Most of the widest swingerson the plus side popped up in the oils and electronics. Mostother major stock groups traded in narrowly mixedfashion. Motors were steady to fractionally higher. Mutual Funds Prices New York (UPI) — Following i« a Ustof bid prices andon asked Mutual Funds as quoted by the NASD Inc. FRIDAY Bid Atk Aberdn 1.76 J.tO ADMIRALTY: Op Bd Gwth IncIns Adv Fd Affil Fd AFuture Allstate AlphaAll Am AMCAPAm Bue Am DlvAm Eqt AM EXPRESS FUNDS: Cap Inc Inv Spec Stk Am Orth Am Inv Am Mut Am Nat ANCHOR 5.R8 3.87 7.27 6.37 3.53 6.63 4.576.65 6.07 9.28 9.31 10.17 0.59 0.64 5.14 5.62 2.88 3.12 9.22 10.08 4.16 4.55 Comp Comp Comp Comp F<1 ComsUt Concrd Cons Inv ConMt In Contrail Corp Ld Cntry 7.20 6.07 9.98 Cwn Cwn 7.12 8.26 7.90 7.42 7.81 5.31 4.84 7.88 2.45 7.78 9.03 8.63 8.54 5,8 4.S 8.6 2.68 Dsl Dlv Devghm DELAWARE GROUP: Dola Decat Delta Drexel Droyfua Dryfw Lv EATON A HOWARD: Bid Atk S.28 6,89 6.* 7.99 8.6$ &.« 8.1 3.77 4.J 10.29 10, 8.62 10.1 6.46 6.41 7.46 7.5 13.41 14.7 10.35 11.1 5.S4 6.3 5.26 5. 56,39563 11 14 12.1 10 39 11. 6.16 6.7311.73 11.7 10.39 11.35 11.38 1.2.4 Hal Cnp Fnd OwthInc Fnd Inv Vent Apollo Asao Fd Astron GROUP: 6.89 7.8 9.4C 10.3 7.18 7.8 7.64 8.3 37.38 40.W 7.21 7.W 1.14 1.28 3.98 4.39 AXE HOUGHTON:Fnd A Fnd BBUc Fnd Axe Set Babson Beacon Bergr K Berkshr Biair FdBnd Stk Boat St Bost Fda Boat Fd Broad St BULLOCKBulck Odn XMv ShNat NY Yen Bus Fnd CO Fund CapiunerCap Inv Cap Slira Cent Shr CHANNING FUNDS: Balan Com El Gwth Incom Specl CHASE Cap Fnd Boa Front ST Bos Sped Chem Fd COLONIAL FUNDS: 5.2 7.2< 6.1 4.5 8.06 4.7fl 6.685.58 4.16 8.06 11.60 11.61 7.41 7.4J 5.08 fi.35 5.7< 6.35 5.85 4.77 7.44 9.55 10.4 7.48 8.1 12.17 13.3( FUNDS: 12.35 13.52 18.18 19.86 3.36 3,69 9.64 10.43 12.83 14.16 6.47 7.T8 7.11 2.83 5.52 7.09 S.41 7.79 3.10 6.05 10.09 11.03 10.25 11.20 1.63 4.86 7.41. 1.47 4.45 6.79 1.47 1.61 BOSTON: 5.51 9.02 7.57 7.27 6.1.84 67.7.. 9.32 10.19 7.31 7.9S 15.42 16. ST Col GwthInc Vent Oolura G _____ COMMONWLTH TRUST; A*B 1.18 C&D 1.41 S.39 3,70 9.63 10.52 5.10 5.57 9.21 10.07 3.89 4.26 10.61 10.61 t.28 1.53 Income Spec Fd Stck Fd Kbcrat Kmerg EnergyEnt Fd Equity Eqt Or Prog Everst FalrfldKm Bur Fed GrtliFid Cap Fid Fnd Fhi Traat«td Austral Of! Ind NYSE Larae«t Net Change* C«o«e Ch'o« Earn* P-E YW 58% 4-9 dcf . . . 0.4 101V4 +5 $3.38 30.9 0.9 20% + 4H 2.87 7.1 4.8 22% * 3* 3,2010.1 .. 115% + 3*4 3.44 33.4 O.S 27% * 3 2.67 10,4 4.3 150 -f 3 3.03 48.6 1,3 51% 4-3 3.4814.9 2.6 42% + 2% 3.71 tt.4, 3.1 33% + 2% 8.83 1L7 4,8 Motrt Active* fey . V«4um« Vol Clo«e Earn* P-E Yld 313,500 16U $0.19 83.5 ... 27% 2,10 13.3 1.4 15% 12% SU. £3% 174,800 89.500 83,800 82,200 68,400 64,100 48,800 46,100 45.600 20* 4 2,1 1.41 11.1 0.29 43.9 dcf ... 1.17 20.4 dcf ... 0.10 87.5 0.54 38.4def ... AM EX Mo*t Active* by VolumeStock Dtv Wang Lnbr Comb Kquip Austral oil EUcor Chem. Ktcor Chem AsBabyS .60US Nat Res Rowan t) .28 Sun Elec. .40 Cioae Ch'ge Earn* P-E Vld 34K + 4% $1.4024 4 .. 15 + 2% 0.31 48.3 ... 2H O.M 38.4 ... 2>4 def 20«Si 22H 20% 24Cp 4 2% * 2% 4 2H — 2%+2 -r 1% P-3B — price to earning* — Dividend yield deT — deficit *tk — yield in stock 1 — per cent dividend In carnlnga — latest 12-mowUn, some dividend* estimated 1,33 J6.7 1.15 15.9 O.SO 22,9 1.49 19.3 1.24 19.4 0.19 S5.5 ratio 2.6 l.t2.6 stock unaudited IMESTDRS By SAM SIIULSKY Q—Last year, my husbandwas warned of a market drop and advised to sell oat all his stock and put the $75,toO pro-ceeds into a mutual fond. He bought a growth fund at about$15 a share. Where is it today? We are now about to sett ourbusiness and have considered buying tax-exempt bonds. A—If you've been reading thiscolumn you certainly ought to recall my saying that when youbuy mutual funds you are, in ef- fect, going into the stock marketand that when you hold mutual fund shares you ARE In thestock market. Mutual funds are simply a professionally-managed basket holding mostly commonstoclcs Since that is so, how can youjustify selling out $75,000 worth of stock because you were toldthe market was going down (which proved to be true) andthen turning around putting the same |75,OQO back into a growth-type mutual fund which over the years has taken high risks incommon stocks and was at the time of your purchase nearly 100per cent invested in these high risk stocks? And, to boot, givingup about $7,000 to $8,000 in sel- ling and buying commissions todo it? What sort of reasoning is that?I don't know what stocks you owned, and I agree that yourloss would probably have in- creased somewhat — but itdoesn't seem possible that you would have losl $6 2-3 per centof your money as you have in this fund, which is now sellingat around $5 a share! If you are still in a taxbracket which makes tax-ex- empt bonds attractive it indi-cates that perhaps you can af- ford to hold these mutual fundshares in the hope of a general market recovery. Q—I'm puzzled by two recentover-the-counter deals. I bought Closing N.Y. Stock Market Prices Prices from Merrill Lynch, Herce, Fenner & Smith, Frankfurt Addre** Admiral Aftrojet Alcan Allan Lud AJJhed Ch AMIwJStr Alii* CU A Air FHtr Am Alri AmBdit Am Enka Am Exp Ind AMetClx Am TAT Amp«x Anaconda Arfc UG Arl«nt OS Avco AvU Imt Avnitt Inc Beech Ar 8*4) Mow Bwidlx BeUi Steel Sept. 4 Aug. ZS 22% M&fc MVi tfffc w tm7% 5)% 8 »»/, BHa My Bruncwick Bunk Ramo Burroughs Cart run Cater Traccas «H> 1C * 33% C«**aa Air Carre li*e ts CtuymlM- tonm STHi dark Cable Colo Pat Coliln Had Comaat n» Of] Conrac Ct> Cent Airi Control Data Cr*ote Pet Delta Air Dow Chem Du P»nt Dyrnc Ind Eatt Air Enil Kod Eaion Ya 14 IS 30% 10H 66> 64 Ehr Photo £mcry Air Fair CamFwf Fa« Fin p*d*r«tn Sept. 4 Aug. 2* 11*4 it CS% O«n Oyn O«i Ctee OMI fntt ;nt keeping the bonds at the brol rage farm for "an easier >akIt Is not likely you're going to much trading; around wit)) ti$1,000 bonds. If you do >ou'«i sure to find it expensive inmissions and in discounts market price, As at now, yoor proof ofership consists of the pun confirmation, your cancel!**;!check, your monthly sta It IS a high quality bond -J"AA" — as rated by StandarfJ a«d Poor's. Many bonds arc r*f|traded on the N,Y. Stock Ell change and even ail those v.are aren't necessarily quoted if every newspaper every day. Q—Why shouldn't interest acimed on B bonds over the > t-ar be taxed as a long-term cnpits |gain? A—Search me. Presumably because it is consideredand not price appreciation. T&i same thing is true of Treasur/ibills. However, I think it's prettyrough on E bond holders. be-| cause many hold their bonds foJ|years and years whereas Treas-| ury bills run only up to a year. (EH. NOTE: Mr. Shulskycomes written questions. be will be able to provide answers only through the coiuina For investment lists, pleas*' indude a self-addressed, stamp*' envelope. Address your request*U> Saja Shttlsky c/o Stars * Stripes, AP« W17S). ;

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Publication: European Stars And Stripes

Location: Darmstadt, Hesse

Issue Date: September 6, 1970

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