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European Stars and Stripes (Newspaper) - September 6, 1970, Darmstadt, Hesse Page 20 THE STARS AND STRIPES Sunday, S*pt*mb*r 6, 1970Stocks Climbed Third Week in RowBy HOWARD LUXENBERGNEW YORK (UPI) — Grow-ing belief that interest rates willbe coming down soon helped liftthe stock market for the thirdweek in a row, although it hadto overcome early gloom result-ing from the threatened autostrike on Sept. 15.The Dow Jones industrialaverage, barometer of 30 se-lected blue chips, edged up 5.34to 771.15, while the New YorkStock 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 78,669,190shares last week, but well abovethe 35,615,140 shares whichchanged hands during the yearago period.The United Auto WorkersUnion chose General Motors andChrysler 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 aserious 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 pointwhere interest rates can con-tinue to decline and the declinecan persist without any big increase along the way."Newton Zinder, analyst for E.F. Hutton & Co., said WallStreet also took an optimisticview of the downward revisionin capital spending plans bybusinesses for 1970. "It will givethe Federal Reserve Board(Fed) a chance to lower interestrates which is what the markethas been waiting for," he said.Most of the widest swingerson the plus side popped up inthe oils and electronics. Mostother major stock groupstraded in narrowly mixedfashion. Motors were steady tofractionally higher.Mutual Funds PricesNew York (UPI)— Following i« a Ustof bidpricesandon askedMutualFunds as quoted bythe NASD Inc.FRIDAYBid AtkAberdn 1.76 J.tOADMIRALTY:OpBdGwthIncInsAdv FdAffil FdAFutureAllstateAlphaAll AmAMCAPAm BueAm DlvAm EqtAM EXPRESSFUNDS:CapIncInvSpecStkAm OrthAm InvAm MutAm NatANCHOR5.R83.877.276.373.536.634.576.656.079.289.31 10.170.59 0.645.14 5.622.88 3.129.22 10.084.16 4.55CompCompCompComp F<1ComsUtConcrdCons InvConMt InContrailCorp LdCntry7.206.079.98CwnCwn7.128.267.907.427.815.314.847.882.457.789.038.638.545,84.S8.62.68DslDlvDevghmDELAWAREGROUP:DolaDecatDeltaDrexelDroyfuaDryfw LvEATON AHOWARD:Bid AtkS.286,89 6.*7.99 8.6$&.« 8.13.77 4.J10.29 10,8.62 10.16.46 6.417.46 7.513.41 14.710.35 11.15.S4 6.35.26 5.56,3956311 14 12.110 39 11.6.16 6.7311.73 11.710.39 11.3511.38 1.2.4HalCnp FndOwthIncFnd InvVentApolloAsao FdAstronGROUP:6.89 7.89.4C 10.37.18 7.87.64 8.337.38 40.W7.21 7.W1.14 1.283.98 4.39AXE HOUGHTON:Fnd AFnd BBUc FndAxe SetBabsonBeaconBergr KBerkshrBiair FdBnd StkBoat StBost FdaBoat FdBroad StBULLOCKBulckOdnXMv ShNatNY YenBus FndCO FundCapiunerCap InvCap SliraCent ShrCHANNINGFUNDS:BalanCom ElGwthIncomSpeclCHASECapFnd BoaFrontST BosSpedChem FdCOLONIALFUNDS:5.27.2<6.14.58.064.7fl6.685.584.168.0611.60 11.617.41 7.4J5.08fi.35 5.7<6.35 5.854.77 7.449.55 10.47.48 8.112.17 13.3(FUNDS:12.35 13.5218.18 19.863.36 3,699.64 10.4312.83 14.166.477.T87.112.835.527.09S.417.793.106.0510.09 11.0310.25 11.201.634.818.104.22.1684.456.791.47 1.61BOSTON:5.51 9.027.57 7.276.1.84 67.7..9.32 10.197.31 7.9S15.42 16. STColGwthIncVentOolura G _____COMMONWLTHTRUST;A*B 1.18C&D 1.41S.39 3,709.63 10.525.10 5.579.21 10.073.89 4.2610.61 10.61t.281.53IncomeSpec FdStck FdKbcratKmergEnergyEnt FdEquityEqt OrProgEverstFalrfldKm BurFed GrtliFid CapFid FndFhi Tra
4 def20«Si22H20%24Cp4 2%* 2%4 2H— 2%+2-r 1%P-3B — price to earning*— Dividend yielddeT — deficit*tk — yield in stock1 — per cent dividend Incarnlnga — latest 12-mowUn,some dividend* estimated1,33 J6.71.15 15.9O.SO 22,91.49 19.31.24 19.40.19 S5.5ratio2.6l.t2.6stockunauditedIMESTDRSBy SAM SIIULSKYQ—Last year, my husbandwas warned of a market dropand advised to sell oat all hisstock and put the $75,toO pro-ceeds into a mutual fond. Hebought a growth fund at about$15 a share. Where is it today?We are now about to sett ourbusiness and have consideredbuying tax-exempt bonds.A—If you've been reading thiscolumn you certainly ought torecall my saying that when youbuy mutual funds you are, in ef-fect, going into the stock marketand that when you hold mutualfund shares you ARE In thestock market. Mutual funds aresimply a professionally-managedbasket holding mostly commonstoclcsSince that is so, how can youjustify selling out $75,000 worthof stock because you were toldthe market was going down(which proved to be true) andthen turning around putting thesame |75,OQO back into a growth-type mutual fund which over theyears has taken high risks incommon stocks and was at thetime of your purchase nearly 100per cent invested in these highrisk stocks? And, to boot, givingup about $7,000 to $8,000 in sel-ling and buying commissions todo it? What sort of reasoning isthat?I don't know what stocks youowned, and I agree that yourloss would probably have in-creased somewhat — but itdoesn't seem possible that youwould have losl $6 2-3 per centof your money as you have inthis 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 generalmarket recovery.Q—I'm puzzled by two recentover-the-counter deals. I boughtClosing N.Y. Stock Market PricesPrices from Merrill Lynch, Herce, Fenner & Smith, FrankfurtAddre**AdmiralAftrojetAlcanAllan LudAJJhed ChAMIwJStrAlii* CUA Air FHtrAm AlriAmBditAm EnkaAm Exp IndAMetClxAm TATAmp«xAnacondaArfc UGArl«nt OSAvcoAvU ImtAvnitt IncBeech Ar8*4) MowBwidlxBeUi SteelSept. 4 Aug. ZS22%M&fc MVitfffcwtm7%5)%8»»/,BHa MyBruncwickBunk RamoBurroughsCart runCater Traccas«H>1C*33%C«**aa AirCarreli*etsCtuymlM-tonmSTHidark CableColo PatColiln HadComaatn» Of]Conrac Ct>Cent AiriControl DataCr*ote PetDelta AirDow ChemDu P»ntDyrnc IndEatt AirEnil KodEaion Ya14 IS30%10H66> 64Ehr Photo£mcry AirFair CamFwf Fa«Fin p*d*r«tnSept. 4 Aug. 2*11*4 itCS%O«n OynO«i CteeOMI fntt akIt Is not likely you're going tomuch trading; around wit)) ti$1,000 bonds. If you do >ou'«isure to find it expensive inmissions and in discountsmarket price,As at now, yoor proof ofership consists of the punconfirmation, your cancel!**;!check, your monthly staIt IS a high quality bond -J"AA" — as rated by StandarfJa«d Poor's. Many bonds arc r*f|traded on the N,Y. Stock Ellchange and even ail those v.are aren't necessarily quoted ifevery newspaper every day.Q—Why shouldn't interest acimed on B bonds over the > t-arbe taxed as a long-term cnpits |gain?A—Search me. Presumablybecause it is consideredand not price appreciation. T&isame 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 coiuinaFor 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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