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Cedar Rapids Gazette (Newspaper) - December 1, 1974, Cedar Rapids, Iowa tip TVjOdif CutHt: Su.. IHt. I. Mutual Fund Summary The Big Five Aminvpsior AmMittuolF Am.NatGrowlfi Anchor GroWlhRund Income Spectrum Axe Houonlon: FutlOA Funds StocKFund; 5.22, 5.W '5.31 II 5.67 5.67 .03 UNO.'lo.i! 307 '3.01 .1.07 4. 04 S.Oi 5.13 -I- Ins 7.7J .u t.74. J.6I 4.6B 4- .04 .3.91 3.91 4- 5.M 587 10 '.n ,i.n-m .1.3! 311 -OS 7.18 4- M 7.77 .758 7.7! .11 4 M A An j AO j. n 3.M. U M 3.38 7. IS 7. S3 B.B7: .Inv n BoridrpdAtncr BondstockCp BostPounaFd BrwnFdHowoIl B urnhom tfj n Calvin Builock: BullocKf-und _._. CtmbdlohFnd CGFimd 6.92 CG r.eomeFd 7.28 CaoltPresrVPrt Conturv Sbrlr 8.V3 Chollenaerinv American Balance Bond Epul'vGrth 3.8) .05 6.54 4 .07 7.51 4- .05 4- ;04 KOO. ..OZ 3.3H .08 7.04 .07 2.24 -f- .06 7.S3 _ .10 7.78 .06 2.33 .04 7.J1 .10 R.7J. '53' B.U B ?7 6." 6.90 7.M 7.JJ 7.54 5.44 5.36 5.56 3.11 1.16 Fund ol Am Growth Income RrovioentFd Spec'Ot Venture Choner Fdinc Chase Gr Bos: Fund Snorpnold ChemlcoiFgnd CNA'MgtmtFds: Fund MemnonanFd SchUsterFd Colonial: Convertible Eotlltv liH7 7.61 GrwthShr Income'. B.03 Ventures 1.76 Columt) Grth 9.2J ColumblncFd tl :75 ComWflhTrC 1.08 ComoossGrwth .i.ps Carnofl 3.6J 403 3.24 5.31 4.20 6.93 4.98 7.66 7.64 7.5? 5.32 5.77 -VO 3'.M- M) 7.35 3.U 5.2? .l.Ofl t 6.83 :'15 .95 4- .01 SM ".13 l.'S -t- .06 .10 4- .05 5.56 T3.il 4- .02 US .03 5.06 4- ,iv 8.17 .34 'J.P3 4- .03 3.74 -i- .11 4- .07 J.19 .12 6.91 .05 3.22 4- .OS I'll .6.00 9.07 -7.64 .02 1.87 .03 7.81 .08 4-, .05 Concord Fd n :6.3t Cons te I In Gtn n ContMutlnv n 6.04 1.0' iX; 6.50 '4.02 CrwriWstDaiFd 4.70 4.61 DallasF.und J.to 2.38 DoylooeFundn 4.8B 40! dcVcoht Mul n 45.72 Deloworo Group: rcFd DeloworcF ren Dlr.octorsCo ..02 1.76 .01 9.20 4- 6.42 .01 .75 4- .111 l.flfl 4- 4.fl5 4 .W 3.63 .05 6.69 .07 5.84 ,15 6.30 .02 6.75 4- .25 4.12 4- .07 ,05 .14 -4.3S .01 4.70 .09 2.40 .01 03 44.74 45.71 .95 7.72 f ,10 I 10.94 -1094 33 ,21. 8.25 y.'i Leycrago 10.5? LlauldAssch 10.00 c'oiincom 6.16 '7.09 iiliFd n 2.49 5.51 7.03 3.09 .06 _..... 10.S3 .20 10.00 HJ.DO 6.D4 6.04 .1? 7.fl9 .10 !.46 ;02 :5.S6 t05 .5.50 llGrowihFund fllncomcFund 6.94 '4.09 7.03 Bdio SolGrh n 12.39 EpretCrowth 8.36 EIIUnlTustJi.'. j ,10 IJ EnerovFd.n' 9.'it FoirtlcldFund 6.04 Fdrm'BurMut 6.31 5.28 Fidelity Group; 7.99 6.81 'Controtund 7.74 S.92 1.00 ;Destlnv 5.02' uEflsoK '.s.30- fl.64 iJPuriion iiSolom i -V Flnonclol Proo: Dynom Fd n F-d n '-Income Fd n Fd n FlrstFundVo Investors: i.DlscQvcrv FunaGrowth .18 6.04 .14 7.50 S.flJ r-1.85 5.W, '.04 4- ,11: Pioneer Fund 2.87 2.A8 7.70 >Jf r'pmina B 3.11 4.95 W 6.45 lit ..J .04 .08 '-7.67. .07 ,S.07 .13 6.36-i- .02. '5.71 .18 6.45 .or 7.16 iis'- ,6.464 .13 6.41 .02' II PllprowthFnd PlllrendFnd Price Funds: r Growth Fd n Income n New Era n Nffw'Hcrlinn Pro Fund n ProyldorGr'h ProoentSvslnv Putnam Funds: Convcrl Eaull i George Growth income Invest Vlslo Vovoab ReserveFd n ReucrpFund j, Satcco EouitFd 5.31 SatecoGrowth 3 9 Scudrier Funds: Intlinvost 10.16 Harbor-Fund Leao'Usf PaceFund 6.16 Shearson Funds Aooreclotlon 13 59 Income 14 73 ..est Shrmn Dean n Side Fund Slomo FunaV Bar Eat SaGenlnt Southwstntnv IvcrsllledF ProgressFd StotFormGth t StatFormlnc n Slate SI Inv Stffodman Funds' Arner ind n 2.11 AssoFTrust n, Invest n Oceonooro n Stein Roc Fds: Balance n Coo Oo n Stock n Sunervisd Inv. Growth o] 114 .US 6.92 6.96 4- .02 29.60 29.71 4- .22 5.76 3.V2 U.62 6.82 -1.98 .11 2.25 .07 2.28 Su. Tecnnoioov GthCon TemolnvFd n TransomCao TrovelersEaFd Turtor Hedae n CcntGrth 20m Centfnc TwentyFlveFd 5... 4.84 .10 7.02 4- .19 6.79 4- .18 6.32 4- .10 7.60 4- .07 8.90 4- .10 US GowlSecur 9.42 USLIFE Funds: Glanced Fd ommonSlk UnltMutuol Unlfund Union Svc Gro: Brood, Sllnv Notlnvesl UnlonCooilol Union IncFd United. Funds: Accumulflv Bond Con'Growlh .03 3.76 4- .01 4.11 4- 14 2.01 4- .01 SDOCIS Vance Sanders: Invest Common Special Vgnderblll Vanl TenNlnlv 2.79 4- .03 .01 2.69 4 .04 3.94 4-' .06 4.46 .09 8.80 4- .06 7.39 4- .21 11.53 .01 3.65 .07 7.15 r .04 ,6.18 4- .33 Vlkfng 'Wall StGrowth WosmnMutuoll Weingrtn Ea n Welllngtn GroiJo: ExDiorerFnd .14.02 IvestFund 5.69 MorganFund 7.5S TrUSteesEq 7.47 Wrlleslevlnc 10.04 WolllnglonFd 7.B4 Westmlnad WindSorFutid 5.42 Wcstcrnlndust 1170 WcsttlcldGrwlh 5.0? WIsconslnFd 385 7.53 d tund. 14.02 4- .Ofl 5.69 .07 7.55 4 .04 .46 4- .1 Per Share Earnings Up for Futures Fund 4.75 -9.59 6.53 3.70 8.72 J.BI 4- 8.5? .06 8.43 -f .11 4.64 .0! Growth Fund Income MorjWfIIGrth n n MedOfPund HerltgwFund HorgceMonnFd 12 I SI Grouo Growth 4 U income TrustShan TrustUnll] tmoerlolCopI ImDcrlolGrth Income FdAi jNTEojNOrwt Intlnvesrors Gth n Invest .CoArn 9.63 n 4.8B Invcstlndlcator 1 7fl Invest IrBoi 7.78 Inv Counsel: Coopmerlcq 6.20 Caplt InvGfti 2.33 tDSGrowth JDS New Dim Mutual! nc Progressive Slock Selective Variable Pav Inveitfteseorch 'slel Fundlnc Ivy Fund n JPGrowthFd JanusFund n John Hancock: Bond Orowlh Slanolure JohnstnMul h Keystone Fun AoolloFund InvestBdBI MedGBdB2 DiscBdBJ IncomFdKl IncomSlkS: 'Growth S-.1 LnPrComS4 Po'brls KnickrbckFund KnlckrbcfcGth "4.M" LondmorkGth 5 ?4 LO EdleCooFd 11.05 Levmaton Gru: LexInqtnGnh LextnotnRsh -Ufe Instnv LincoinNat Loom Is Sav'es; Conltol n Mutual n Lord Abbert: Affiliated Fd AmBusShr Bond Deb Luiheran Bro: -US GovtSoc Mossochuseti Freedom Fd 'i Indeoei Moss Flnoncl: MIT MIG ArtIO i MFD MCD Motes Invst n Mothers Fnd n MldAmer .MohevMkMgl MOWYFund MSBFund MutBeneiGrth MIFFUnd MtFOrowth Mutuol ot Omoha: America H 53 Growtn 3 45 Mutual Trui NEAMutuol Natl Indus! n Not Secur Ser: Balanced Bond Dividend Growth Income Growfh 6'62 Income 13.05 13.04' ..Side 10.45 lO.r NcuwlrlhCen n 4.19 NeuwlrthF.d n 6 26 NewPerspec've 11.14 New WorldFd 8.28 NewtonFupd 9.51 NIcholasFdln n 8.63 Morcast Inv n 12.97 DmeqoFund 6.76 One William n 11.59 ONolll Fundn 11.12 Oppentielmer Fd: OoDcnhmFd t 1 Oppfinwonfit j PoulReverc PooosusFd Penu Souare n Penn Mutual n PhllaFund PfwonlxCooFd Pllprlm Gro: PIlBrlmForm PflorlmFd Mogno Coo n Moonotncorn n neor Fund: A Logistics of World ByStthS, Kldg New York Tlmci Service In (his. year of Increasing concern 'over world food supplies, the Interiiatlorial grain trade has become oven more :uf. ,a .frantic logistics gume in which the winner Is the company whose intellig- ence gathering, communica- tions, transportation and Intui- tion are better than ils com- petitors. The United Stales is the world's' biggest exporter of food, most of it'.in Ihe form of grains. Lasl year American dealers shipped .73.5 million metric tons; ppUrids each) of wheat, corn, soybeans and other cereals, five times more lhan Canada and 10 limes more than Australia, Ihe second-and-third largest exporters. And 1H) percent of this tremendous outflow was han- murgin liiid million. to overage annuiil profit of (H mlllloit qri more tiiuh. billion In the fiscal year ending in In'transactions. mid-197.3, Cook's net Income The concern owns a fleet uf was million, tiwt rose to H6.2 niillloti in fiscal. 1974, with the .bulk earned in the grain trade. Revenue climbed to million from mil- lion.-. But in the first quarter of the cut-rent fiscal year, start- ing in1 June, with exports slow- ing and the American 'crop available for sale shrinking, net Income has dropped ;to million from million in (he year-earlier period.' Contest river barges, a small fleet of cargo curriers, and more than 100 country grain elevators. Cargill also leases a 115-car train to move Its grains and owns a salt, mine, chemical and soybean processing plants, and animal feed manufacturing well as a fishing fleet in Peru-and a fast-food restaurant in Ant- werp, Belgium. The ancillary, or subsidiar- y, interests of Cook Industries are'rnoro modest and some- whal; less .varied. Merchandising and process- 52-ycar-old chair- chief executive of- ficer of Cook. "What money we make died by jusl five American- depends only in part on'-'how based concerns the Cargill much we have to pay a farmer or a country elevator man for his grain. The rest depends-on '.'Selling grain :in the i'n- lernational niarkel: is .really one big logistics said .ing -of grains and .cotton. pro- Edward W. duces, nearly 60 -percent of informal, man and Grain Co., the Continental Grain Co., Cook Industries, Inc., .Dreyfus and Ihe Burige how' efficiently and cheaply we in roughly thai order of can pick it up, move it to the size and volume. They are Ihe only ones with enough capital, elevator space, and shipping facilities to coast, and get it aboard a ship. "And that.depends.on'what transportation' we can get bur acquire and move grain in the hands on when it is time to quantities foreign buyers need, deliver the.grain.." So whoever would feed the verV secrecy so loved or supply the paying by. the industry, while it, may customers in low-production nations areas of concern so acute, as to have. sparked a world food conference that Cook's gross income. Cook owns 14 inland storage elevators and has or is build- ing three large coastal eleva- tors. This year H leased rail hopper cars and 160 barges 'on Ihe Mississippi river system to 'carry its grain and cotton. Whether a company makes an export sale at-all depends either on. ils shrewdness in offeririg the lowest bid price in public 'tenders, the means through which many countries or .oii Its contacts with b'ig buyer.s, like the Soviet Un- ion, -the Japanese, and the 'Chinese, who prefer, to bar- gain less openly, perhaps hase asking price. If they can later buy the-saint) amount of grain from farm elevators at a price, they sell their futures contract and use the elevator grain Instead. "When vie quote a foreign buyer a' delivered ,price, we've had to decide beforehand how much more, above our buying price; it is going (o cost us, to .get It Cure Gary, one of the surprisingly young of Cook's grain 'division..... Jt is "widely believed in the grain trade that the .money the biggest seller in'.lhe massive 1972 grain deal, made thai' transaction came from (he shipping rales it was able to charge the Sovi- et.Union.: With-so many projections involved in a .grain export sale, the so many projections of net receipts from trading can swing wildly in a year's time: like the farmers, the trading companies' with tho wuJthcr, the slic of the American ciop, and how muth grain the lest of the world is pioduting .is well as which countries have, (lie money with which to buy Bank Clearings Monthly clearings fqi No vembci tolaled the clcdiing house reported Fri- day Clearings for the same month In 1971 were 934 Total to dale for 1974 is compared with the total-to-date a ago of Bank clearings fur the week ended Nov 29 totaled 887, the clearing house has re- ported This is down from Ihe pievious week's dealings of Thai week ended Nov. .22. Clearings for, ,lhq same .week in 1973, ending Nov 30, were attracted participants from more lhan 100 countries to Rome last monlh must deal with one or more of the big five. Competitive World Theirs is a murderously competitive world, where each company walches the othej-s total American wheat supply, protect them from .snooping competitors, who might bid up (or down) the market to spoil dealing separately with sev- a sale, also has allowed .the eral of the big" five, shrewder international buyers to play one grain dealer against another and against the department :of agripulture. In the great grain purchases of for example, .the ..Sovi- et Union bought nearly billion worth of grains, includ- ing almost a quarter of the 399 6.85 ,04 .67 -f .07 VPO 1006 10.16 4- 1? I coders on the Amex Per share earnings for Ihe nine month period ended Oct. 3i for Futures Fund, Int., were 'compared to 75 cents Tor Ihe same period in 1971 The board of the firm which is headquartered in .Cedar Rajilds has decliired a regular 15-cent per share quarterly dividend, plus an 'extra HI cents per share dividend. Pay- ment will be made Dec 31 to holders of record Dee. 12. The ex-dividend date is B. Futures Fund has paid total dividends of per share this year to dale. Futures Fund is a commodity and investment firm, and utilizes an investment technique known as to analyze commodity market trend changes. like spies in the night and any obscure piece of information can make; the difference between profit and loss. The companies believe they cannot survive unless they can operate in as much secrecy as they can manage.1'And they can manage quite a bit. .Or the .big five, Cook in- dustries. .Inc., .headquartered here, is the only one that is publicly owned and thus the only nno whoso financial pro- file is published. Cook, which originally merchandised only cotton, began exporting grains in 'HftVBy the margin it .before either the companies or the farmers realized what was happening. In Ihe wake of a second So- viet attempt this buy American grain, in which Continental and Cook were to be the sellers, the Ford-ad- ministration has ordered all exporters to.i'gel. permission for each large export sale be- fore It is culminated. But each company still .about its business in much the same manner. differ from, each oilier most in the amount nf storage and ship- ping they have the sub- sidiary enterprises they own. Buy More Grain To prote'cl themselves after a sale has been made, the big traders, go immediately into Ihe, commodity futures markel and hedge their sale by buy- ing as many bushels as they are selling. This at least establishes .1 made in grain sales (the rilN ference between purchase and handling costs and the sale price, not including company giant with headquarters in operating costs) totaled Minneapolis, has disclosed million. By thai that in rccenl years it had an Cargill Biggest C'argiH, a family-owned Smiles are Ortghter at Happy I'IZZA M'K PAHIMR. ,'ISlnil Air. A- NTH fa Commercial and industrial Wiring 2121 NwtHme Law, Hi, 393-2111 Can you afford to miss a tax deduction? If you are self-employed (sole proprietor or you should know about the increased tax benefits under Ihe Revised Keogh Plan. Keogh Plan Conference Thursday, DM. P.M. Call for reservations. If out of town, call collect. I'm sorry I can't make it. Please send me the information about self-Employed Retirement plans. (Keogh) NAME...........................'...'..... ADDRESS..................... CITY ZIP MorAmerica Financial Corporation STATE ......PHONE UNO TOi DM, QUAIL GROUHO n OOtt 1.1. TDWIKI CEDAR RAPIDS. USMItt Tdbphone 363-8201 An equal opportunity employer tyfiA. Momber New York itock exchange Opon Thunday Night Saturday Morning, SUBORDINATED DEBENTURES DUE JUNE Interest Payable May '31 and November 30. MORAMERICA MOMTHLY MOMEY These THREE-YEAR certificates are issued in denominations. With a minimum investment of you can .elect to re- ceive your interest monthly payable by" check. FOR INSTANCE: returns monthly returns monthly returns monthly ONE YEAR THRIFT CERTIFICATES interest Payable June 30 and December 31. Copies of the Prospectuses covering the Thrift Certificates the Subordinated Deben- tilres may be obtained (ram the undersigned as licensed -dealer in' the securities. This is neither an offer to sell nor a solicitation of an offer to buy. These securi- ties are offered by Prospectus Only to bona fide residents of Iowa who purchase for invest- ment and not for resale. The Morris Plan Securities Company 100 American Building Cedar Rapids, Iowa 52401 IF WE DON'T HAVE IT WE'LL TRACK IT DOWN. "SIMPLEX" HYDRAULIC "ROCKWELL PELTA" DRIlt PRESSES FIOOR 1 BENCH MODELS 15" MODELS ONLY '289.00 STEEL PRODUCTS "JUSTRITE" tSAKTYCANJ oHy cant cabinet! MMKOSHA ALLQY Chain Sllngi-Mad. to Ordw-While You Waitl "BIG ORANGE" IMMEDIATE DELIVERY CARLOAD ON HAND AND YOU BUY THI BESTI GRAB HOOKS 250 fc.. to a.Ooc'V Copoeity Mod.li lor oil ttandord ekclric eurrcnri ith ipttdt lo wit. "ULLYMORE" SAFETY-HIP HEAVY DUTY WOODtAlUM Sliij Eitensim LADDERS Avoilobta with or witti: out guord raili. Softly jprlng mountttd coifsri glvt fingKtip mobility. a to 6 st.p in Stock Hlgfnr Avail CASTERS fFFECTIVE ECONOMICAL IAST TO UK con mobilize your jtodt. Porrt eon be rolled wtwre you wont tfwm, whm you fam. Known, TriMfod and Kmspmctnl 1912 PhoiwJM RAPIDS, IOWA 3J404 MorAmerica Financial Corporation A Registered Bank Holding Company.
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