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Cedar Rapids Gazette Newspaper Archive: March 5, 1974 - Page 8

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Publication: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

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   Cedar Rapids Gazette (Newspaper) - March 5, 1974, Cedar Rapids, Iowa                                The Cedar Kapids Gazelle: Tucs., Mar. 5, 1974 I he Investor's course, some mutual funds will accept us little as al- By Sam Shulsky Q We are a young couple, during a market slump, on the; assumption that the market will! The Cedar Itupids Ciazelle: Toes., Mar. 5, 1974 cit HAWKEYE impressed with two small A I'd say you were an ex- cellent example of young people who should begin to invest and, Sam Shulsky what's more, invest in some thing in which you have specia knowledge. Assuming you have alreadj set up a life insurance program and accepting your savings ac count as sufficient for j'our emergency needs, I'd say star now whether the market is high or low. You mention two small com- munications companies which have impressed you. I certainly would not presume to argue with an expert in the field, bul will point out that both are ex- tremely volatile price perform- ers, have had wide-swinging earnings records in fact, one now shows a small deficit. That, -however, should not deter you if you feel the compa- nies are on the uptrend. Your only decision is not whether you should or invest now (answer to both is but whether you feel confident to make, a big commitment or prefer to set up a program for gradually acquiring the stocks, all the while keeping close track of the companies' progress. As to making assumptions that stocks bought in a slump will recover: don't.. Not unless you have definite answers to a lot of problems overhanging (he stock market. Q A friend who invested in a mutual fund re- ceives a month income. Shouldn't she also be receiving additional dividends and stock certificates? A The monthly income must come out of whatever the fund can earn in the form of dividends and interest on securi- ties owned, plus whatever capi- tal gains it can make in suc- cessful market operations. Or, out of capital. In such a level withdrawal program, the fund pays out only the requested amount in this case, If it generates more than a year in income and capital gains, it reinvests this excess in additional shares. If it generates less, it draws on capi- tal. No additional payments are called for. Q I am a widow, 71, with 100 shares of an airline stock which has dropped from my purchase price and which has halted dividend payments. Should I hold on? Will it come back to my cost price? A Lacking a crystal ball, I can't tell. All I can tell you with any conviction is that it suits your lifestyle about as well as a pogo stick. The money should be in safe, generous, dividend- paying utility preferreds. Q Do you think it's a good idea for a 19-year-old to give a broker a month? A Under the stock ex- change's monthly investment plan, the minimum investment is although it may be made once in three months. Some commercial banks are now ac- cepting cash for purchase of' stocks on a periodic basis. Ofi Q _ To m s s thc most money in ,he next ,3 years should I buy a retirement policy or utility stock? A Neither sounds like a gung-ho way of building a for- tune. The annuity plan can pre- dict to (lie penny what you would have. The utility stock is hardly a fast mover. You'll have to take your chances with riskier growth stocks. Mr. Shulsky welcomes written ques- tions, but he will be able io provide an- swers only throunh the column. For Infor- mation on corporate and tax-exempt bonds, please include a self-addressed, stamped envelope. Address your requests to Sem Shulsky, care of The Gazette. AT BRIDGE By Oswald James Jacoby In general the failure of third hand to play high is because he has a chance to play an impor- tant spot card which will huh declarer. In all such cases there must be an honor of some sort in dummy that third hand's high-card and the spot-card will bracket that honor. East reviews the bidding and sees that his partner cannot told more than three high-card NORTH 4 J5 V J9Z AQ975 4Q107 WEST EAST VA1063 V875 SOUTH (D) 4 Q 10 7 6 V KQ4 J 10 4 North-South vulnerable West North East South 1N.T. Pass 3N.T. Pass Pass Pass Opening lead 2 GENERAL TAPPAN We trim you win on dozens of products for your car home SALE STARTS WED, 10 a.m. SHARP Joints. He hopes that they are all together in the person of the spade king. He asks himself, 'How can I beat this and sees that three spade tricks are necessary." He notes further that he is sure to get the lead with his (ing of diamonds so that if he does not hop up with his ace of spades his partner won't be lurt. Then he plays his eight of spades. South can do no better nan win the trick with the queen or 10. He loses the dia- mond finesse. East cashes his ace of spades and leads the four spot where- upon West takes two spade ricks. East signals with the 10 of hearts and the ace of hearts sets declarer. Note that if East had taken his ace of spades at trick one de- clarer would score two spade ricks, game and rubber. The bidding West North East Pass Pass Pass South Dou- ble Pass You, South, hold: AK76 ?AK76 What do you do now? two spades. TODAY'S QUESTION You do bid two spades and your partner bids Ihrec spades. What do you doi now? Answer Tomorrow PARAMOUNT 'PHARMIK1 SEMI-ANNUAL ENDS TOMORROW MARCH 6th! HURRY! SEVEN CONVENIENT LOCATIONS OVER 600 APPLIANCES, TV'S STEREOS will be sold at big money savings at this great event! .hundreds of fires. many discontinued designs. factory close outs. reduced to sell quickly, plus these great featured specials in sizes for your car. DI ft nvui AII ISLAlmllHLL nylon cord conftruction 12.50 18.50 19.50 20.50 18.50 19.5O 20.50 650x13 775x14. 825x14- 855x14 775x15 825x15 855x15 18.50 24.50 25.50 26.50 24.50 25.50 26.50 Plus Old Tire Wliilewalls slightly more Discontinued Designed Tire DURA-BELT "BELTED TIRES 700x13 A78x13 F78xl4 G78xl4 F78x15 G78xl5 29.00 29.00 30.50 31.50 33.50 31.50 34.50 22.OO 22.OO 23.5O 24.50 26.5O 24.50 27.50 Plus Old Tire Whilewalls slightly more Discontinued Designed Tire "MARATHON" 78 Bl Low Profile "78" Series Tire F.E.T. 1 Plus Old Tire Whilewalls slightly more Discontinued Designed Tire RANGES AIR CONDITIONERS TV STEREO WASHERS-DRYERS by m- AIIG-E COLOR TV's Thurs Tappan Smooth Top Electric Fri.@ Sat GE12Cu.Ft. Refrigerators Starting as low as 9" BLACK WHITE TV COLOR CONSOLES COLOR PORTABLES G-E Convertible Dishwasher with wood cutting board top PRICES START AT G-E Air Conditioners Several models to choose from 1973 Floor Displays SAMPLE B.T.U. limit I fo a customer NO DEALER ORDERS G-E Filter-Flo Washer G-E15cu.ft. Chest Freezer Tappan 30" Start at Tappan Gas Range HOURS: 10 to 8 daily, Saturday 10 to 5 9 GENERAL ELECTRIC WESTINGHOUSE 4 WAYS TO Goodyear 1. Goodyear Custom Credit Plan 2i IBANKAMERICARD.I fa 3. 4.30-60-90 Days Same As Cash FANTASTIC DEPT Pocket Iran. Radio Steak Knife Set-6 PC. Floor Mats Full Size 20 GaLGarbage Cans Garbage Can Liners 088 188 199 POPULAR CMOVEAR Many different models to choose from. Demonstration All On Sale! Mowers Only i R ONLY (Model No. Sig. W. orCJE RT144MRA Refrigerator W RS184MSG Refrigerator W RT192MRW Refrigerator J718AVORang9 Range P7 KF432 PXW Range DE11OLXA Dryer DE170MA Dryer SOTmiOT W GE GE W W W Now Was 39.95 489.95 409.95 209.95 299.95 279.95 5 189.95 Ml 209.95 103 199 95 Westinghouse 2-Door Refrigerator- Freezers Starting at Westinghouse 2-Speed Automatic Washer Westinghouse 10 gallon per day Humidifier Westinghouse Dishwasher with wood cutting board top Prices start at Washer prices start at Dryer prices start at "It looks like we've interrupted a little necktie pnrty." Mondale: 402 Wealthy WASHINGTON (AP) Sena- or Waiter Mondale ays 402 Americans with in- omes of or more paid o income taxes in 1972. That was an increase from he 394 in the same category in 970 and 276 in 1971, he said. The senator said the figures :ame' from a treasury depart- ment report to be published ater in the month. He is a the tax-writing sen- ate finance committee. "Tax Avoidance" "It is long past time to enact loophole-closing tax re- 'orm to end this growing, tax avoidance'by the Mon- dale said in a statement. "Everyone, from the Pres ident on down, should pay theii fair share in taxes. The averagi working American has alreadj seerT more than enough of this kind o! artful tax-dodging! He 1 fed and rightly so wit a system that forces him. to pa; Warning Sounde About Poisonous Household Items CHICAGO (AP) The Na tional Safety Council urge: Americans to throw out 01 guard carefully an estimater. 250.000 household substances and medicines that can cause poisoning. It said more than per- sons were killed in 1972 by ac- cidentally swallowing poisons. Noting that March 17-24 is Na- ;ional Poison Prevention week he council urged that all medi- cines be kept in a locked cabi- net and that adults avoid taking medicine in front of children. "Never pretend that medicine s it said. Insecticides, paint thinners, solvents, fuels and other items stored in garages should be ocked up.or kept out of the reach of children, the council said. 'Never leave a child alone, even for an instant, when you are using potentially poisonous substances such as floor cleaners or furniture t added. The council said purses espe- cially can be dangerous. "Chil- dren both boys and girls o v e to rummage through jurses which often contain many toxic substances, includ- ng pills, cosmetics and other larmful items that can be easi- ,y swallowed." Every household should obtain T poison antidote chart from a iharmacist and keep it handy, he council said. more so the rich can pay Jondale added. The Minnesotan said that, 'hile 402 persons paid no in- ome taxes in 1972, many others' aid only relatively small mounts. "Thousands of wealthy Ameri- ans end up like President-., lixon paying just a few undred dollars in taxes on tieir huge he said. "This is just enough to keep. hem off the list of total tax- avoiders, but they are still pay-., ng a much smaller percentage of their incomes in taxes than r ;he average worker." Nixon Taxes He said the paid by Nixon in 1970 and amounted to less than 0.3 per-.'1 cent of his annual income.: of-1: more than But, Mondale said, a worker. must pay. or more than' percent of his earnings. Mondale noted that the senate. voted last month to raise the minimum tax, designed to catch persons who iave preference come not subject-to taxes for a variety, .of reasons. This provi- sion was enacted in the 1969 Tax Reform Law. However, the bill, to1 which the minimum-tax increase was at- tached .later was returned to finance committee and has re- mained there. Mondale said action to boost ;hat tax should not be put off any longer. The house ways and means committee completed hearings on broad tax-reform proposals ast year. Its chairman, Rep. Wilbur D, Mills (D-Aik.) has said a bill on the subject will be- sent to the house for action this session. Hits OAS MEXICO CITY (AP) Cuban Prime Minister Fidel Castro urged Latin-American nations to o r g e t the Organization of American States and form i new association that may "re present their true the Cuban news agency Prensa La tina said Saturday. France Steps On Fake Wine AJACCIO, France (UPI) The government has charged hree Corsican winemakers with making million -in illegal profits by selling several million jottles of "artificial" wine made of sulfuric acid, glycerin and sugar. Agovernment anti-fraud bureau said the winemakers added the chemicals to a min- ute portion of crushed grapes and sold the mixture for seven .irnes the cost of production. New York Ejects Thieves, Inc.' ALBANY, N.Y. (UPI) A (respective company called 'Thieves, will have to ook for another slate in which o incorporate under terms of a bill which has been sent to the New York senate. Following debate, the assem- bly passed the bill to give the secretary of state power to deny ncorporation to applicants ihoosing offensive titles for in- :orporation. Feed the Birds FOR ANY FAILURE 365-2243   

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