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Cedar Rapids Gazette (Newspaper) - April 29, 1974, Cedar Rapids, Iowa The Investor's Guide By Sam Shulsky Q Time was when a price- earnings ratio of 22-to-l set a stock's value. That formula has been emasculated by inflation, high interest rates and contrived and rigged markets. A II there is tr ever was a price-earnings rule of 22- to-l I don't know it. Price- earnings ratios are reflections of wide swings in investor sen- timent and are certainly not the result of "rigged markets." During the boom of the late '60s, when speculators were convinced it "wasn't gonna rain no more, no stocks (especially with a glamor fac- tor attached) were bid up to 22 and 32 and even 52 times per share earnings. In recent months, when all sorts of trou- bles seemed to have hit us at once, shares of even old-line companies have fallen to 7, 8 and 9 times earnings. What price do you want to pay for a dream? Look al the price- earnings ratio. Your letter goes on to sug- gest that there be market price controls just as there are price and wage controls. But I can't imagine that a government agency could set the price of AT and T at the opening exchange bell every day and still leave us with a viable stock market. Worldwide speculative demand has a way of asserting itself witness the sharp rise in the market price of gold which, as a matter of practice, is set by a group in London. Sam Shulsky For Better Health Bed Bugs Are Transported On Suitcase, in Laundry By Dr. S. L. Andelman "Don't let the bedbugs is the warning most of us dnn'l have to worry about. Luckily, the bedbug is far less familiar than it was a few generations ago, at least in most parts of the world. But we do find them now and then in rooming houses, camp buildings and poultry sh'eds and no mailer how clean we keep our homes, bed- bugs may one day find their way in. That's because they can be transported from place to place, on a suitcase, a package, secondhand furniture or a basket of laundry. Bedbugs give off an unpleasant smell, an odor from secretions of a scent gland. Although they usually feed at night, they'll come out during the day if the light is subdued. Hide Since they are small (about 2-10 inch long and 1-10 inch wide) and flat, large numbers of bedbugs can hide in (he 'Familiar' Taxi Proves Own Car TUCSON, Ariz. (UPI) Thomas Villa thought there was something familiar about the taxi he rode in recently in the border town of Nogales, Mexico. It turned out to be his own car stolen from his home in Tucson about a month before. Mexican authorities returned the car to him. Horse Race Results Hint from Utility? LOS The department of water and power recently included, with electric bills, a pamphlet on changes in the city's energy saving law. It gave a telephone number to call for further information. Because of a misprint, the number given connects callers with a recording giving horse race results. Streaking May 'Scare Judge Warns PASADENA, Calif. (UPI) Municipal Judge Warren Et- tinger placed three college students a man and two sisters on six months probation for streaking and admonished them with what the judge said was an English maxim: "Do anything you want but don't do it in the streets or you'll frighten the horses." Lawyer Took Hot Car For Fee, Jury Finds VAN NUYS, Calif. (UPI) Lawyer Jack Schmidt defend- ed Donald Lee Bledsoe last year on a charge of auto theft. Bledsoe was convicted. Last week, Schmidt was loo. A jury found the attorney guilty of accepting a stolen car from Bledsoe to cover his legal lee. ON THIS DATE in 1945, American soldiers fighting in Germany liberated Nazi victims at the Dachau concen- tration camp. Jo .'Fit Any Decor CEDAR RAPIDS PAINT 509 3rd Sf Phon.- J63-9634 Dr. S. L. Andelman skimpiest space in the most unlikely locations. Thej congregate in large numbers, and masses of them can fit into cracks in plaster; along the joint between baseboard and wall; in the welts and tufts ol mattresses; in the uphostery ol chairs and in the joints ol wooden bedsteads; in cracks around window frames, and behind wallpaper. No! everyone react, ji the same way lo the bites of bed- bugs. Some people feel hardly anything. Others have sore swellings, caused by local in- fection or an allergic reaction to the bedbug's saliva. Once bedbugs are dis- covered, you can get rid of them without too many problems. Examine every pos- sible nook, crack and crevice in floors, walls, ceiling and furniture. Bedbugs will pack by the thousands behind loose wallpaper, so peel it away to get al them and their eggs Don't exempt metal furniture from the search; if it has cracks or hollow legs or hidden surfaces, it can harbor the bugs. Enemies Temperature and humidity arc two natural enemies of bedbugs, and they'll also suc- cumb to a number of man- made conditions. If humidity is high, the bugs die at tempera- tures of 100 degrees Fahrenheit or more. When it is in the mid-50s or colder, the bugs stop crawling, feeding and laying eggs. Local attacks on cracks, loose wallpaper and furniture with household insect sprays are a good start in eradicating the pests. It is usually effective to fumigate with sulfur candles and insec- ticides or to heat your home to a temperature well over 100 degrees for several hours at a time. Once they're dead, remove the bugs, thoroughly scrub your home and follow up with a regular schedule of inspections to make sure they don't return. Dr. Andelman welcomes let- ters outlining problems he may discuss in future columns. He regrets, however, he cannot personally answer mail. Write to him in care of The Gazette. When, months ago, it es lablished a price, say, of a; ounce, that certainly failed I, choke off widespread demanc which has boosted the price t around twice that figure. Q I recently bought som shares of a small televisioi equipment company. I seemed like a good idea sine television is so popular today but now I can't even find i listed. A I can't find any listing either. Contact the broke through whom you bought thi shares if you want to learn (hi current market price. I'm not sure precisely wha. you mean by television being so popular today. I guess it' true that many people watch a lot of television, but that' hardly evidence that one par ticular television equipmen company is going to do well o poorly. After all, the an tomobile industry has grown tremendously in the last 7 years but you wouldn't have (lone very well if you had in vested in any of the more than auto companies whicl conked out. Q I'm a widow with mone> invested in treasury bonds at 6 and 7 percent. I don't think I'm getting enough income from my money. A Treasury bonds, as do all high-grade bonds, the market practically everj day. If you own a Treasury bond with a 6 percent coupon you can be sure it has been marked down in market price to the level where it yields nearly 8 percent to maturity So there is little room for yoi to move around that is, selling what you have anc buying others with a higher coupon rate. When they ma lure, you can reinvest at higher coupons. Q I enclose copies of some confirmations I received on purchases of municipal bonds. The broker said he made no commission. Is that right? A As you can see from the confirmation notice, "as prin- cipal we have sold to you.' There was no commission since the broker did not act as agent. He sold you bonds he already owned, at, presuma- bly, a mark-up in price. Call it commission or mark-up, he has to make a living. Q In 1962 I invested S2.000 in 105 shares of a mutual fund. These have since grown to 350 shares. How can I redeem the shares without being taxed all at once? A A tax would be levied on any capital gain. So we must first determine whether you have any gain to be taxed. Your 350 shares, as of the moment of writing, are worth about They cost you plus all the dividends and capital gains you reinvest- ed over the last 12 years. You'll have to add all those annual dividend and capital gains to the original outlay and see how that total compares with the you would now receive. I don't hink you will have much in capital gains to worry about. Mr. Shulskv welcomes written ques- tons, but he will be oble lo provide mswers only through the column For sts of growth and dividend stocks, Dlcase nclude o sell-addressed, stomped en- elope. Address your requests to Som ihulsky, care ol The Gazette. ZALES innuiu Our People Make Us NumberOne Introducing our newest Ring of with 2 diamonds and 1 synthetic birthstone' Our newest design, in honor of Zales 50th Anniversary and created tor Mom. Custom-made in 14 karat gold with 2 genuine diamonds-holds up to 7 synthetic blrthstones. Each additional synthetic birthstone, Available with one genuine stone, Each additional genuine stone, Additional diamonds available at J15 each' and We're Only Just Begun. Zales Revolving Charge Zales Custom Charge BankAmericard Master Charge American Express Diners Club Layaway by May hi, lo Insure delivery tor Mother's Day. Illustrations enlarged. WIN AT BRIDGE By Oswald James Jacoby Jim: "How about showing some unusual false-care Oswald: "Here's a fairl; simple one by third hand. Wes opens the five of spades agains South's three nntrump con NORTH 4 107 y AQ6 KJ1086 WEST 4 J9653 1073 54 Q106 EAST AQ8 V J8S2 A7 8753 SOUTH (D) K-12 K94 Q932 AKJ Both vulnerable West North East 'ass 'ass South 1N.T. 3N.T. Pass Pass Opening tract. Here, East should plaj the queen not the ace." Jim: "This isn't really a false card. It is the play o: third-hand second high insteat of high." Oswald: "Whatever you cal the play, it is important thai East play the queen. If he plays, the ace and continues with the queen, South will duck, win tin third lead of the suit, knock ou the ace of diamonds and make liis contract since East won' be able to lead a spade." Jim: "Now see what happen; if East plays the queen. Soutl still duck and wind up a winner, but will Oswald: "Possibly, if East joes through a long ceremony of thinking before playing the queen, but South players 'are human. South would look mighty silly If West had led Turn ace-jack and his duck gave away the whole spade suit. Therefore, South will take his king and hope for a 4-4 spade break which will let him make his contract irrespective of the location of both missing aces." The bidding has 29 West.. North South 'ass Pass.' You, South, hold: 2 J765 you play fourth-suit forc- ng, bid an irregular two dia- nonds. Otherwise jump to three notrump, since two notrump at his stage would not be an ab- olute force. TODAY'S QUESTION You do bid two diamonds and our partner jiimps lo three olrurnp. What do you do now? Answer Tomorrow m guarantees to clean your draperies perfectly! m is the world's largest, most experienced drapery cleaner! can restores original beauty to your drapery! m takes down, delivers and re-hangs your drapery! prolongs the life of your drapery! phone Colt for a free 'estimate, no obligation. PHONE 364-8059 Scientists Say Milky Way Is Like Starry Hurricane By Frank Carey WASHINGTON (AP) New evidence from outer space suggests that our Milky Way galaxy may be built like a vast whirling hurricane, wilh a quiet "eye" at its center but plenty of action for billions of miles around in the form of powerful cosmic rays. And our solar system, though just a pipsqueak among some 100 billion stars and a vast amount of interstellar dust and gas that make up the galaxy, appears close to the heart of the action. This new and more detailed concept of how the vast. Milky Way is constructed and how its matter and energy are dis- tributed was formed by a team of space agency scientists. Gamma Rays They said the picture has emerged from findings made by the agency's Small As- tronomy Satellitc-2 or "SAS-2" which has opened up a new variety of celestial snooping termed "gamma ray astronomy." This new branch of as- tronomy the detection of a special form of rays that are, in effect, the offspring of cos- mic rays holds possibilities tor tapping space secrets im- (K-netrable to optical, radio or X-ray astronomy, the scientists reported. Researchers G. F. Bignami and C. E. Fichtel of the Na- tional Aeronautics and Space Administration's Goddard Space Flight center at Green- belt, Md., told about it in a report to the spring meeting of the American Physical Society. They said the tiny SAS-2 sa- tellite, launched in November, 1972, into an orbit 300 miles above the earth, has been regularly recording gamma rays coming from the Milky Way, a huge, flattened struc- .ure shaped something like a grindstone and having a diameter of 57 million-billion miles. Most of the rays observed thus far, they said, have been coming from regions relatively close to the solar system, located about two-thirds of the way between the galaxy's center and its edge. Speed of Light But even so, the scientists estimate that the rays even though traveling at miles per second, the speed of light started toward the earth some to years ago. They said the rays arise from the interaction of cosmic rays high-speed nuclear particles believed to pervade the universe on matter throughout the galaxy. The' gamma rays, which have 10 million times the energy of X-rays, thus consti- tute "fingerprints" of the dis- tribution and passage of cos- mic rays. They also provide tips on how matter is dis- tributed throughout the Milky Way. Scientists long have known that cosmic rays come from various parts of the galaxy. But pinpointing the major sources of the rays within the Milky Way has thus far eluded science. Now the findings of SAS-2 have indicated that little or no cosmic radiation is coming from the center of the galaxy. In contrast, there appear to be rich sources of such rays in the highly-dense regions of stars and other matter that curve, like the arms of spirals, around the "quiet" center including the "spiral arm region" inward from the sun. ON THIS DATE in 1969, Duke Ellington, the composer and musician, was presented the Presidential Medal for Freedom by President Nixon at a White House ceremony. The Cedar Kaplds Gazelle: Mon.. Apr. 29, 1S74 9 They'll Do It Every Time m CATTY- CORMER STOPS COIAR. OMiy L 114.98 TREATS? MlMSeiF TO THE LATEST IN THE 6HIRT m PKXJPUY WEARS IT TO THE OFFICE" JULIO Mystified by Bizarre Fish SAN FRANCISCO (AP) "I've been around fish all my life, and I've never seen anything like Larry del Guerra said after netting a bizarre fish with ragged fins off the Farallone islands. "It's a he said. "It's got a bulldog face, a white nose and no scales. All the old- timers took a look at it, and nobody knew what it was." Vietnam War Hero Receives Probation FAIRFIELD, 111. (UPI) When Kenneth Kays was a marine corps medic in Viet- nam, he was hit by a mortar shell and lost a leg while res- cuing members of his platoon. President Nixon awarded him the Medal of Honor for that last Oct. 15. This week, Kays, 24, pled guilty to charges of growing marijuana in his parents' greenhouse. He was fined and placed on probation. Lillian Dempster, associate curator at Steinhart Aquarium here, later identified the fish Wednesday as an Icosteus aenigmaticus a ragfish, if you will. Although it inhabits coastal waters north to Alaska and off Japan, she said the fish is "seldom seen." The Farallones are a group of uninhabited, windswept islands 26 miles from San Francisco. EAT WELL, LOSE WEIGHT Use 5, 10.25 or more pounds of excess withoul missing a meal wilh Ihis Plan lhal can help you slim The X-ll Reducing Flan contains a tiny lablei. easily swallowed, that com- bines ingredients to combat hunger. appease appetite, supplement vita- mins. No strenuous exercise. Over nOO million of X-ll tablets used all over America. Company founded in 1928. X-ll Reducing Plan costs S3 large economy size S5. Get X-ll now Your money refunded by manufacturer if yon don't lose those pounds nocjues- tions asked. 'At most drug stores. SAVE 2.81! LATEX WALL PAINT DRIES TO A BEAUTIFUL GLARE-FREE MATTE FINISH FAST EASY TO APPLY EASY SOAP WATSR CLEAN-UP lObO'sOF RICH, FADE RESISTANT COLORS. REGULARLY 9.80 6.99 GALLON DEEP TONES ACCENT COLORS 8.99 ON SALE SAVE 3.26! 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