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Cedar Rapids Gazette (Newspaper) - September 6, 1974, Cedar Rapids, Iowa 6 The Cedar llapids Cazftlr: Frl.. Sept. 6. 197-1 I Investor's Q uide i liy Sam Shulsky eoii fading fast, these new ash-haven funds have grown [rum a standing .'start a mere ago to at least 20 separate umls today and new money narket funds are springing up other week. Most of these funds charge o sales or redemption fees re truly "no load" funds, lost offer buyers rates of re- urn ranging from to 11 lerccnt and up. Most also are liquid, and. so far at east, safe. What arc these funds? Why have Ihey become so popular? Most important, what are their names and where can you find them? In these Iwo articles, you'll find the key answers. What Is.a money market fund? A. This is a mutual fund which pools your money with that of other similar investors in order to buy in large volume short-term securities in Ihe money market at today's his- torically high yields. Most of the funds eoneen- .Irate on. Certificates of indebt- edness issued by banks In denominations of or more and due in 30 days to one year; commercial paper; U. S. treasury bills; or other short- term high quality. By yourself, you couldn't af- ford to buy in units of or so. But by pooling your money with the money of others, the managers of Ihe Sylvia Porter money market funds can buy Ihe big-denomination units and pass on Ihe high yields to you. Why have these funds become so popular and aelive? A. The upsurge in rates reflecting Ihe Federal Reserve's light credit policy and galloping inflation has simultaneously depressed slock prices and enhanced the attractiveness of short-term, safe, high-yielding, fixed-in- come sectirilics. Rales on time certificates is- sued by savings institutions and banks in small denominn- lions have been kepi lo a maximum of under 8 percent while rales on ordinary savings accounts have been held lo 5Vi lo li percent. But the rales paid on Ihe. big-denomination securities have soared along with Ihe Coverall interest-rule spiral. Interest rates on big- denomination certificates of deposit have been ranging behvccn 12 and H percent, for Instance. The gap indicated above between what the big fellow and Ihe little saver can earn has become embarrassingly wide and Ihe discrimination against the small investor has to me bordered on the obscene. Through these funds, (hough, the .small investor can get a part of the action. Some funds require a minimum in- vestment of as little as is an oft-used minimum; is commonplace. This is a far cry from a minimum of Q. How do IhcM' funds differ from stuck mutual funds? A. In the nature of what they buy and hold (heir port- folios. The familiar mutual fund invests either entirely in stocks or in some ratio of stocks lo long-lerm bonds. The money market funds usually invest in big- denominalion certificates of deposit; commercial paper; U. S. government and federal agency short-term issues. Some funds have turned so conservative they are now buying only U. S. government bills. Q. What about capital gains? A. These funds arc not designed to create capital gains for investors. They are designed to bring you a high income by pooling and invest ing ;il lop interest rates moiio.s you customarily would keep yourself in a savings account a much lower Interest rales. Q. How m n I'll income can' earn? A. Thai will fluctuate fron week lo week with Ihe ups am downs of interest rales in llu giganlic money markets. Yon can follow Ihe I rends by keep- ing (rack of the'current rates on certificates of deposit issued by Ihe major banks Of the na- tion, A new fund, just established by one of the nation's most prestigious Investment counsel firms, anticipates n net yield lo investors of around lo II percent. The is after deduction for management fees of percent to 1 percent and ex- penses. Next: Where yon can find Ihe monev. market funds. Q Should I switch my E to II bonds, or cash them in and put the money into per- cent high-grade bonds? A II bonds pay out an average 6 percent over their 10-year maturity. If you cash the Es and pay the tax on the accrued interest will the net proceeds reinvested at yield more than the full amount of the Es invested at (i percent? (Also, II bond interest is not subject to stale or local income (axes.) Mr. Shulskv welcomes wrltlen ques- tions, hul he will be able lo Drovidc answers only Ihrouan Ihe column. For Intormolion to check on obsolete sccuri- lies, plcosc include o self-addressed, sla s lo Sum Snulskv. ol The Takes a Dip If it's relaxing enough for the President of the United States, then it's relaxing enough for 10- month-old Scott Davis of Yuba City, Calif., who also enjoys a refreshing dip in the pool. Scott is a student in a special swimming class teaching tots as young as seven months to swim. SF Fans Bring More Fantasy To U. S. Capita! WASHINGTON (UPI) The nights were lighted by a full tnooii when Ihe thunder and lightning of intermittent summer storms weren't crackling over Washington, a icrfeet selling for Ihe 32nd World Science Fiction ion. More than 4.0110 aficionados if "SF" Sci-fi is a passe erm gathered here lo lebate their favorite authors, vatch fantasy films, barter looks and ami lurade through the fashionable Intel lobby in freakish cos- umes. Many flaunted photographs rom the goiie-but-not-forgot- en "Star television how or had their pictures aki'ii arm in arm with actors scaring the lifelike makeup sed in (he movie "Planet of lie Those who loved fantasy of II kinds, from Walt Disney lo well-rounded umpire who uses her body and mouth to doom evildoers, wen welcome, said eonvenlion Ron Bounds, 29 i Washington electrical en- ;inecr. "Purists object to including onscience literature under F, but it's all lie aid. "We are here lo have in." Bounds commented on Ihe growing popularity uf science fiction among the general public as well as its study in Uul college classroom. "Over (he last 311 years science fiction writers have been handling ethical, moral and behavioral issues too hot lo touch in another context." he said. Hut lie poo li-poo he (I those who try lo find tnii much philosphk'al content in the es- capist art form. "Sunn; of these people work In put SI'' in the same dull, dry. stuffy cub- byhole as other literature." Mounds said. There was heavy trading of SF paperbacks, with most collectors' items going for less than S5. But a lew rare volumes brought much more. Current issues of "Monster Times" and "Weird for example, were slacked high on tables. Bounds said that in the first' Iwo days of Ihe convention 1.200 new members had signed up. An international group with members from other coun- tries, the World Science Fic- tion Convention holds next year's meeting in Melbourne. Australia. LAFF A DAY t's the spot where the first Iwo tomobiles collided." HILTRRUNNER 116 SECOND STREET SE GAZETTE TELEPHONE NUMBERS :or Newt. Spoils, Bookkeeping, General Inlor- motion and Offices Not listed Belo in the many people who dill delude cotton soaked in romalic spirits of ammonia in heir first-aid kils. At leasl uiviiiK il on hand satisfies a friend's need to "dn something" rather Hum just stand around waiting for Ihe oilier person lo regain con- sciousness. Generally a person will recover from fainting when he lies (or falls) down. The force of gravity, which exerts a pull away from the head when the person is standing, helps the blood lo flow back to Hie brain. He may recover even faster if his head is lower than the rest of his body. If you should suddenly begin to feel cool, or weak common symptoms before fainting yon can usually avoid unconsciousness by sil- ling down and pulling your head between your legs to increase blood flow lo your head. l-'righl The type of fainting, called vasodepressiir syncope, occurs when a person is frightened. Fright causes his body to aulomalically increase the flow of blond into the muscles in preparation for flight or some other needed physical action. This In turn causes his blood pressure In become lower in Ihe rest of Hie body, including Ihe brain. The problem corrects itself if the person uses his muscles right away. The muscles then tighten and press on Hie blood vessels, forcing the blood back into normal circulation. If Ihe muscles aren't used at Ibis I time, the blood flow to (he brain may drop below the level needed for consciousness and the person fainls. Some fainting may he due to emotional reactions to the sight of blond, or shock at alarming news. However, habitual faint- ing or frequent feelings thai yon may fain! aren't normal. They could be caused by anemia, infections, heart disease, overuse of drugs and complications of diabetes and require medical attention. Dr. Andclman welcomes let- ters outlining problems which he may discuss in future Dr. Andelman columns. He regrets, however that lie cannot personally answer mail. Write lo him in care of The Gazelle. ON THIS DATE in 1964. were killed in floods in India. WCTU Head Hits Lower Drinking Age CLEVELAND (UPI) A louder of the Woman's Chris- tian Temperance Union denounced the-trend toward a lower drinking aye as "a great tragedy" and said the trend was the result of "the vicious- ness of the liquor industry." Mrs. T. Roy Jarrclt vice- president of the WCTU, hold- ing its 100th annual convention, called lowering the legal drinking age "an incentive for young people to drink, and even for younger high school students to take a drink or two with their peers as a means of obtaining acceptance. 'The viciousness of the liquor Industry which lobbied for this legislation cannot be condoned since it strikes at the nation's youth to their and the country's detriment while the industry builds its future economic Mrs. Jarrctl said. "The great tragedy is that youngsters acquire a taste for Ihe beverage and too often continue drinking until, in their most productive years, they are victims of a disease which it is difficult to eradicate." she said. She said it was up to govern- nciit and schools to rid the nation of juvenile alcoholism. "It is time for congress to ake heed of the damage such cgislation brings upon the na- she said. "It is also time that schools nationwide throw aside the so- .-ailed 'health much if which is promulgated by the iquiif interest tu teach :hildren 'how to she idded. "It is time that children and young people be given acts about alcoholic leverages, instead of fantasy." In earlier meetings, WCTU cadcrs said the group was lying to erase its image of lit- ie old tectotaling ladies marching through taverns rcaking bottles of liquor. "We're not like that'at aid Mrs. M. Allen Swift of Vest Hartford, Conn., "The iress often ridicules us, but we ave a dandy program going ur the. protection of the home ml the nation." Judy Hubbard, 15, of San nsc, Calif., said, "WCTU is or everybody, not just old adies. What they're trying to o is prevent alcohol traffic, 'hey'rc just trying to help icoplc out." 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