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Cedar Rapids Gazette (Newspaper) - April 24, 1974, Cedar Rapids, Iowa 4A The Cedar Rapids Gazette: Wed., Apr. 24, 1974 The Investor's Guide 'By Sam Shulsky It was once considered "chic" in Wall Street to look down one's nose at preferreds, branding them as "neither fish nor flesh, nor good red her- ring." And I am sure that opinion is still held in some quarters. However, there have been some changes and the most significant, it seems to me. is the widespread appearance of convertible preferreds, issued, in some cases, in recent cor- porate acquisitions. These preferreds not only enjoy the senior position of any preferred stock but, in addi- tion, give the holder hope of sharing in the growth of the corporation via their privileges of conversion into the common. Then, too, dividends from preferreds may be included in the dividend exclusion from taxable income. They are also attractive for corporate investors who pay a tax on only 15 percent of preferred dividend income. And, of course, they may be bought by the small investor in much smaller dollar amounts than are required to acquire con- vertible debentures or straight bonds. A recent issue of Moody's Stock Survey lists a half dozen such convertible preferreds "for appreciation and in- come." Yields run from 4.2 to 6.9 percent and premiums over conversion value from zero to 12 percent. They are dividend convertible pre- ferred, the Jim Walter Monsanto Norton Simon Sun Oil and Union Oil of California As they say in Wall Street literature, "this is not an offer to sell" or a recommendation that you rush out and buy, but if you're interested, talk it over with your broker. answer me if yon have the time.to drop me a line. have more time if you included a stamped, self- addressed envelope. are in onr early 30s With two young children for whom we want to set up education investments. have two main op- tions: -1) Buy common'shares of solid, leading corporations which you can confidently ex- pect will be in business and prospering when-the young- sters are ready for college. 2) Buy high-quality corpora- tion bonds which, pay'8 to 8% percent and which interest you can accumulate in this educa- tion fund. .The first plan would mean you are assuming a risk in the hopes of building capital in order to offset steadily rising tuition costs. The second plan would mean that in return for cutting your risk you are sa- tisfied to accumulate money at the annual rate of 8 or 8V4 per- cent. Jn either case you should consider setting up custodial or trust accounts for the children's securities so that dividends and capital gains, or straight interest (in the case of the is not added to your tax burden. The amounts you name would indicate that the fund would represent no tax burden to the children. are in onr 70s, con- sidering the sale of property we bought 20 years ago for We think we can get substantially more for it. Dur- ing these 20 years we have worked very hard and suc- ceeded in paying off all debts. Sam Shulsky If we sell, will we have to pay capital gains taxes? folks do have some tax exemptions on gains made in sale of their property. The lawyer who handles the closing of the deal should bi> able to help you on that. time ago I heard that a trader was making a day trading on drug stocks. sure the exchange floor specialist in the stock has over a long period of a good living by handling the stock. Otherwise he'd give up the book on it. Buf if you're talking of some "hot" trader who spends most of his working day driving a bus, or running a store, you can put this gossip in to the same class as all those old .stories about getting 35 miles from a gallon of water plus a "mysterious pill." Q. How can we use U. S. treasury bills to plan for our retirement years? We're not interested in mutuals and have had bad experiences in'the stock market. A. Treasury bills run only up to one year in duration. So if you want to put your money into them you must be prepared to "roll over" your investment every year. Also, there is a minimum purchase. You can get infor- mation at the nearest Federal Reserve bank. If you want to invest in treasury bonds, you might bet- ter consider longer term bonds. You can buy them to mature in any year from now until 1998. Brezhnev: Russia Is Unfit Soil To Grow Dissidents MOSCOW (AP) Soviet Communist party head Leonid Brezhnev says the Soviet Union is "utterly unfit soil" for dis- sidents in literature and art. Brezhnev mentioned no names, but he was evidently warning Soviet "writers by referring to exiled writer Alexander Solzhenitsyn and other poets, writers and artists who have left the Soviet Union in recent months. In an address to the Kom- somol Young Communist League congress, Brezhnev said: "Over their long history Soviet literature and arts have known many attempts to side- track them from life, to tear away from our ideals. Even now those in the West have not abandoned such aspirations. "Individual renegades and people astray in our country as well tried to echo our class and ideological enemies. But all their endeavors proved futile. Ours is an utterly unfit soil for the growth of such weeds." Solzhenitsyn was expelled from the Soviet Union last February after the publication in the West of "Gulag a literary documentary of Soviet labor camps. He is now living in Zurich, Switzerland. 36th Anniversary SALE Never a time like NOW to save up to 30% on a New Piano or Organ! KNABE. .STRAUSS. .KOHLER. .CAMPBELL BALDWIN Sale ends April 30th vs Baldwin Cedar Rapids Piano Organ Co. Our New tocofion 110 Third Ave. SW 365-8689 (Bob) Lutzohnani LAST THREE DAYS Pampers Disposable Diapers Newborn 30's Duytime 30's Reg. 1.85 JL Reg. 2.05 Stock up for spring and summer on Pampers disposa- ble diapers with new custom fit tapes. No pins or plas- tic pants needed. Convenient for mother, comfortable for baby. Buy now and save! NO PHONE ORDERS OR DELIVERIES ON PAMPERS Peterson High Chairs Regular 23.00 66 Special on deluxe high chairs with padded seat and back. Con- verts to youth chair. Folds flat for storage, unbreakable chrome It tray. Choice of prints. ARMSTRONG INFANTS THIRD FtOOR Peterson Stroller Regularly 30.00 21 Our' fine "Pacer" stroller by Peterson has 4-position recliner back, safety brake, tray and beads. Sever- al colors. Weather-Gard Stroller Reg. 838 3O90 ARMSTRONG INFANTS THIRD FLOOR More Special Savings Peterson Play Yards square play yard fea- tures double drop sides, padded legs and rail and safety nylon net sides. Choice of 2 prints. Reg.S40.Oo3200 Welsh's High Chair with Blue Denim patch print. Thick padded seat and back, wire foot rest and plas- tic tray. Converts to youth chair, folds flat for GE Heat n' Serve Dish-with three compartments. General Electric unit heats baby's meal to proper serving temperature. Yellow and pink. Reg. 816.00 LAP PADS, reg. 3 for TRAINING PANTS-stock up save PLASTIC WATERPROOF PANTS CURITY BABY TIDY UPS, reg 79' CRIB SHEETS, reg. 2.00 ..................1.49 WATER PROOF CRIB PADS, reg. 2.75 1.09 KIMONOS, reg. 2.00 1.49 KNIT SAQUES, reg. 1.59.................. HOODED TOWEL SET, reg. 2.75.......... I ARMSTRONG INFANTS-THIRD FtOOR 4-in-l Converla Cribs Combines crib, play yard, car bed and dressing table in one sturdy wood unit. Legs adjust to 4 heights, easy-rolling casters; plastic teething rail. Includes wet-proof mattress. Natural finish. ARMSTRONG INFANTS-THIRD FLOOR Gerry Carrier Kiddie Packs Reg. S 16.00 The "original" Gerry Carrier with foam padded, nylon shoulder straps. Lightweight "comfort curve" frame. ARMSTRONG INFANTS THIRD FLOOR "'p WAVE- >CURITY DIAPERS absorbent gauze diapers Jif first quality would be 6.00 per< dozen f Limit 4 dozen per customer Offer Expires April 27th No phone orders or deliveries Welsh Play Yard S 239" Welsh's drop-side play-yard. Has safety nylon net siding and safety center leg support. Blue denim hems and denim patch pad. ARMSTRONG INFANTS-THIRD FLOOR Prop-a-Seat Carrier Reg. 5.00 Infanseat molded of first quality domestic thermo-plastic. Fully padded. Maize, green and white. ARMSTRONG INFANTS THIRD FLOOR Folding Baskinetles full size reg. 815 1O Special value on these handsome wicker baskincttcs that have folding legs and easy-rolling non-marking wheels. Easy-to-cnrry handles, use as car hod. ARMSTRONG INFANTS-THIRD FLOOR
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