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Cedar Rapids Gazette (Newspaper) - July 19, 1974, Cedar Rapids, Iowa 2 The Cedar Rapids Gazette: Fri., July 19, 1974 The Investor’s Guide By Sam Shulsky Q — I am 21, with about 11.000 to invest. My financial experience equals zilch. How can I find a good investment counselor? I need someone who can explain what my money will be doing? Please send me information on corporate and tax-exempt bonds. A — I think you had better resign yourself to a “do-it-yourself" operation for awhile — at least until you are in a position to invest a lot more money Investment counselors work on a fee basis. You can see that even an annual charge of I to 2 percent of your capital would hardly compensate a professional for spending any time on your problems. I’m sending you some suggestions on where you can get investment information. In addition, of course, there are the public libraries, where you will find many books on investment fundamentals. Since you live in a city with many large brokerage firms, there is no reason you can’t start a monthly investment plan under which you may invest as little as $40 every three months. You could discuss your plan with a broker. You could, also, look into mutual funds, on which I am sending you some fundamentals in the envelope you’ve provided In addition, I’m including a fact sheet on bonds and tax-exempts which, I would guess, you don’t want. for the simple reason that at 21 you should be buying common stocks in the hopes of capital growth I assume, of course, that you already have a savings account and — if you must protect someone now or intend to in the future — life insurance Q — I am 29, serving overseas, with $10,000 in a stateside savings bank two-year certificate. I feel there is something I should be doing to increase my capital and, also. to help reduce income taxes A — You are, of course, increasing your savings by compound interest That is one perfectly acceptable way of investing If you want to try for more rapid growth, you must be prepared to take more risk — by which I mean investment in things which can go up or down in value: real estate, antiques, rare coins, common stocks. Lots of money has been made in all these ventures. The only thing you can say in favor of stocks is that if you are not an expert in the field, a share of stock represents not only part ownership of a business, but the management as well. As to taxes: You could wipe out the tax on the income from this $10,000 by putting it all into municipal (tax-exempt) bonds At the same time, of course, you would give up any hope of capital gain, since bonds are dollar-fixed investments. Income tax regulations exempt the first $100 of dividends received by a person filing a separate return from taxable income. So if you put $2,000 of this money into good quality stocks paying 5 percent, you would not have to pay any tax on that $100 in dividends. * * * Q — About a year ago I invested $15,000 in a two-year certificate at a savings and loan association in our town I’ve recently noticed that the insurance insignia on the window is not the Federal Deposit Insurance Corp seal at all! Needless to say, I’m worried Sam Shulsky A — Savings and loan insurance is provided by the Federal Savings and Loan Insurance Corp., which is a government agency, just as is the Federal Deposit Instance Corp., which covers member banks They are similar agen cies covering different fields and I see no reason to fret. Any savings and loan carrying the word “Federal” in its title MUST be covered by FSLIC. Many other s & Is, of course, may be similarly protected * * * LEGAL LIST: A list of investments approved by various states for purchase by institutions and fiduciaries, such as insurance companies and banks. Legal lists are often restricted to high quality securities which meet specifications set by the state. Mr Shulsky welcomes written questions, but he wilt be able to provide answers only through the column For information on mutual funds, please include a self addressed, stamped envelope Address your requests to Sam Shulsky, core of The Gazette Inflation Makes It Rough on Gourmets BRIDGE By Oswald A James Jacobs If you think that exports don’t get into trouble, look at this hand from the finals of the Bermuda Bowl won again by Italy. When the runner-up Americans sat North and South the bidding went as shown in the box. The spade lead was won in dummy and the IO of clubs led for a deep-sea finesse. West took the trick with his jack and led a second spade South won; entered dummy with the ace of hearts and tried a second club NORTH A \ V A 8654 ♦ 832 ♦ 10653 WEST 4 J IO98762 f 10 7 3 ♦ IO ♦ kj SOI TH A KQ f K9 ♦ J 9 5 4 ♦ AQ982 19 EAST (DI 4 543 T Q J 2 4 AKQ76 ♦ 74 Hest 34 Pass Both vulnerable North Government Takes Look At Age Discrimination 3 NT East 14 Pass South I N T. Pass Opening lead-J4 finesse. West won and ran spades East discarded all his hearts and one diamond and the last spade squeezed South He couldn’t keep the high heart and a diamond stopper and was down six tricks. Strangely enough, North America showed a profit on the hand At the other table South elected to overcall with two clubs. Enc Murray decided to create excitement and jumped to four spades. Had North doubled, Erie would have been set two tricks, but North bid five clubs When this got back to Erie he doubled and opened his singleton diamond Sammy Kehela sitting East took three diamonds and led a fourth Erie overruffed South’s nine with the jack. Later on South tried a club finesse and Erie made his unguarded king to set the hand three tricks doubled VfCARDJtatt* The bidding has been 19 West North East South 14 Pass I NT Pass 3* Pass 4 * Pass 9 By Sylvia Parte r NEW YORK - The opening salvo has been fired at last in a new. no-nonsense crackdown against our most rampant and devastating form of job discrimination — "ageism ” Just two months ago (May 15), the giant Standard Oil Co of California agreed in an historic settlement of a case brought by the labor department to award $2 million in back pay to 160 older employes the company had illegally discharged between December 1970 and Dec SI, 1973 because of their age Standard also agreed to rehire 120 of these workers The settlement made history because it was by far the largest ever made under the little known 1967 Age Discrimination in Employment Act. Railroad Slit One month later, the labor department filed a $20-million suit against two of the nation’s leading railroads — the Baltimore & Ohio and the Chesapeake & Ohio — on the basis that the railroads had illegally fired, demoted or denied work to no fewer than 300 employes between 40 and 65 in violation of the age discrimination law The Chessie suit made history not only because of its size in dollars but also because it challenged, for the first time in the law’s history, the company’s mandatory retirement age of 62 Should the workers involved be awarded the full $20 million by the U. S. district court, it would mean an average settlement of more than $66,000 for each worker. Should the ban on the mandatory retirement age of 62 be upheld by this court, the implication would be that virtually every corporation now pegging retirement at this age would be legally vulnerable Merely a Hist These suits, says labor department attorney William Kiiberg, are merely a hint of what’s to come. Under the law. including an important round of new amendments signed into law by President Nixon along with the minimum wage amendments on April 8: Private employers with 2$ ar more employes may not ! discriminate against workers between 40 and 65 because of their age unless age is a “bona fide occupational qualification’’ — as, say, for a baby clothes model Sylvio Porter Before you raise even a feeble cheer, however, let it be understood that the liberalizations and the new aggressive stance by the labor department enforcers have been painfully long in coming. In an enormous number of workplaces, a person who is over 46 is designated as an “older worker.” Age discrimination in job recruiting and job ads remains pervasive, as I have reported again and again. While in fiscal 1973, thousands of workers did get some help from the labor department wage and hour division in keeping or regaining job privileges which had been illegally denied them, the number of U. S. workers being hit by this form of discrimination is surely in the millions, not the thousands, and the amount of money forfeited by these victims is surely in the billions, not the millions. Inflations Biod On top of this illegal discrimination, the older worker in the U. S. (and there are 37 million of us between the ages of 40 and 65) is being squeezed by today’s murderous inflation spiral. And this squeeze is not only on current BIG GEORGE! incomes but also on carefully accumulated nesteggs and pensions. The specter of rising unemployment at a time when today’s queasy economy could quite easily tilt downward rather than rebound is far more serious to the older than to the younger worker. Both public and private training and retraining programs are another form of discrimination against the older worker — and all too frequently, those special "hire the older worker’’ programs-ask the older worker to volunteer or to work for minimum wages. While our laws and the labor department scratch the surface of the problem, private industry mandatory-retirement-age policies appear to become ever more rigid. Which, I ask you. is ugliest: Sexism? racism? or ageism 0 Archer Foe of Pigeons Nabbed LONDON (UPI) - Argen-tine-born Juan Henshore disliked pigeons because they spread disease and made a mess of Trafalgar Square. That’s why, he told the judge, he was stalking them in London's Green park — with a bow and arrows. Police confiscated his archery gear and the judge gave him a one-year suspended sentence. "It’s a. shame my bow and arrows have been taken from me," Henshore said, "as I was getting a better shot every time I used them.” IT By DI ck West WASHINGTON (UPI) - Latest cost of living figures show food prices tailing off slightly, or at least rising at a less appalling rate. While this is good news for most consumers, it is not necessarily cause for universal rejoicing. Being limited to market basket staples such as meat, bread and potatoes, the Consumer Price Index does not take into account the upsurge of specialty items without which many of us poor gourmets would surely starve. Every Hear When I dine at home, I start out with canapes prepared as follows: First, four saltines baked fresh every hour on the hour by trappist monks in Bavaria and flown in twice daily by Epicurean Airlines; Upon which spread a generous layer of authentic Philadelphia cream cheese imported from Pittsburgh; Next a lavish mound of caviar from the roe of Black sea sturgeon, each certifiably a virgin, the eggs individually tested for uniformity in size, color and flavor; Finally, a sliver of lemon of exquisite tartness mellowed by weeks of cold storage and aged to perfection on the produce shelves of AAP. Have you any idea how much more these things cost nowadays than they did when one first developed a taste for them? The caviar increase alone would propel price index percentages another place to the left of the decimal. Even when one compromises taste for economy, four ounces of domestic salmon roe caviar goes for $3 49 Only the caviar of the Iceland lumpfish has remained within reason And sometimes they don’t get all the lumps out. Snails de Paris It's the same story wherever you look. Two and a half ounces of Denmark shrimp, $2.79 A can of 12 Snails de Paris, $2 99 At 59 cents for a 4Cfc ounce tin, spiced octopus isn t too badly inflated. But Swiss mushrooms. Spanish artichoke hearts, Brazilian hearts of palm, South Carolina hominy grits and Mississippi fatback are out of sight. French goose pate rises almost weekly as does Texas okra pickled in a brine of delicate salinity and enhanced with genuine chemical additives, the better to retain their fuzzy, spiny texture. Any gourmet whose inheritance is still in probate surely will weep when he visits his Dick West favorite legume dealer and sees how much pinto beans have gone up That sinking feeling returns when he calls on his green grocer and learns what has happened to the price of collard greens. lf cost of living figures are to be meaningful they must be broadened to reflect the price of delicacies Those of us with educated palates count for something too, you know . LAFF - A - DAY Virgil Partch You, South, hold 4AQ654 TA Q 6 5 4 4A K 4 2 What do you do now? A—Let your conscience be your guide. We wouldn't criticize a six-heart bid and maybe even a pass would be the w inning action, but our recommendation is to hid five hearts. TODAY’S QUESTION Instead of bidding four hearts your partner has jumped to four spades over your three hearts. What do you do now’ 0 Answer Tomorrow ON THIS DATE in 1918. during World war I, German armies began retreating across the Marne river after their last great offensive in France was repulsed by the Allies The baa applies oat only ta hiring, it also applies to hiring, promotion, awarding fringe benefits, other job practices I Jab ads may nat discriminate against older workers (e.g., by specifying a "young person," "teenagers," "recent college grads”) and discrimination by employment agencies and unions also is banned. Caverage Boder the act Is extended to nearly 14 million federal, state and local government employes In addition, the yearly budget authorization by congress for enforcement of this law was hiked from $3 million to $5 million ( "How come the LIGHT things are always in the right place?" Spring Recess Scheduling at Easter Barred MIAMI (UPI) - Dade county schools have been ordered to stop scheduling spring vacations around Easter weekend because the practice has the "direct and immediate effect of advancing religion ” The order by U. S. District Judge C. Clyde Atkins came as a result of a suit filed by Leonard Speiller, a social studies teacher who is Jewish. Atkins also ordered the county school board to allow teachers to use as much of their annual IO days’ sick leave as they wish for religious observances. The board had limited use of sick leave for observance of religious holidays to two days a year. Speiller’s suit argued that Christian teachers get paid vacations at Christmas and on Good Friday while non-Christians must take sick leave to observe their religious holidays. Atkins ordered the schools to set spring vacation over a "uniform established period that does not fluctuate from year to year." However, he ruled that, since Christmas always falls on the same date and has a "secular and indeed universal image," the winter recess may continue to coincide with Christmas. A school official said the 1975 spring vacation had been scheduled for March 24-28 March 28 is Good Friday. The official said it would be rescheduled. DRIVE SAFELY! For Better Health High Fever or May Cause By Dr. S.L. Andelman When a person sees or hears something that’s not present in his environment, he's having hallucination Hallucinations are associated with the various senses. A person may see an object or a person not in the room or hear nonexistent voices; he may also have tidily sensations, which he says are caused by a machine, or may report tastes or smells unrelated to reality. Hallucinations are often experienced by a person in a delirium caused by high fever, disease or injury. The alcoholic w ho is suffering from delirium tremens is having a hallucina tion when he sees insects crawling on the walls of his room or wild animals ready to attack him. Certain Drugs Hallucinations may also be caused by certain drugs that produce startling alterations in consciousness and perception These drugs, called hallucinogens, cause the user to see fantastic images and brilliant colors, and to hear strange sounds. They have a long history of use in primitive mystic and religious rites. Mescaline, which comes from the peyote cactus plant, has been part id a religious rite among Central American Indians. Certain varieties of mushrooms growing in Mexico are similarly used. LSD, derived from a fungus, is the most recent of the hallucinogenic drugs. Hallucinations exist only in the mind, not in reality. But if a person sees or hear* something that actually exists but misinterprets its meaning or its source, he is having a delusion Thus, if a paranoid patient hears real voices in another room but interprets them as coming from his imagined persecutors, he is having a delusion — in this case, a delusion of persecution Mental Therapy Hallucinogens are often used with success in mental therapy, although they may cause the patient to cross the border between visions and Disease Hallucinations reality. This means that because the hallucinogens are psychomimetic (they produce a psychotic reaction in a normal person), they can cause an undiagnosed psychotic, undergoing treatment, to cross into the area where hallucinations become reality. They also cause users to experience repeat effects long after the drug is taken. Most users of the hallucinogens are aware of an increased sensitivity: Smell is more acute, colors more vivid and hearing more sensitive. Many drug users claim that the Dr. S. L. Andelman hallucinogens give them new insights into themselves and a new burst of creativity, but these claims are generally without basis in reality. • * • Dr. Andelman welcomes letters outlining problems which he may dlscnss In future columns. He regrets, however, that he cannot personally answer mall. Write to him in care of The Gazette. FREE GOBLET with $50 deposit! Melvin has let the place get sort of run down.” ON THIS DATE in 1941, the "V for Victory" campaign in World war II was launched with a broadcast by Britain’s Prime Minister Winston Churchill. For the Finest in Paints Do#A"> Have lo De Mother a Day to Give A Fresh Fruit Basket. They re •The Sweetest Gifts Anytime HEAPING >4 PECK ... $3.50 HEAPING Vt PCCK ... $*.50 HEAPING FULL PECK . $9.00 Gilt colio rn md I a Quint Ii* Fin Betorn ti titlur Hus'tn DALE’S FRUIT MARKET 3338 C«H« Pi IM. NE I TU Till die* I tat lins A Your choice of three elegant styles - FREE with a qualifying deposit in a First National Savings Account or Certificate of Deposit. Additional goblets available at beautifully reduced prices. Start your collection today! (Limit, one free gift per family.) First National Bank of Marion HEATHCLIFF u,N„y>i W<( '** Member F.D.I (’, Grain Belt Contest Winners (Week of July 7th to 13th) FIRST WEEKLY PRIZE ALI MACRAFT 17’ QUETICO CANOE MINN KOTA 35 ELECTRIC FISHING MOTOR OOI LI) POWER BR EEE) 60 BATTERY Michael Hoffman Mahtomedi, Minn. 55115 SECOND WEEKLY PRIZE ARCTIC IO SPEED BICYCLE Mr. L. H. Crosby Minneapolis, Minn. 55441 THIRD WEEKLY PRIZE PHILLIPSON/3M BASS TAMER ROD & REEL Gail Emerson Minneapolis, Minn. 55404 FOURTH WEEKLY PRIZE NORDIC’ WARE OUTDOOR COOKING SET Robert Boren Ashby, Minn. 56309 FIFTH WEEKLY PRIZE 3M COLOR PRINT FILM AND PROCESSING Elmer J. Berg Fergus Falls, Minn. 56837 SIX ITI WEEKLY PRIZE GRAIN BELT 56 QUART METAL COOLER William F. Lohr Sioux City, Iowa 51104 ENTER OFTEN ONLY WEEKLY PRIZE ^WINNERS AWI ELIGIBLE FOR GRANO PRIZES.j » A t 9
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