Cedar Rapids Gazette, December 2, 1974, Page 7

Publication: Cedar Rapids Gazette December 2, 1974

Cedar Rapids Gazette (Newspaper) - December 2, 1974, Cedar Rapids, Iowa \ Tho Cedar Rapids Gazette: Mon . Der 2. 1^7# BIG GEORGE! Virgil Partch “I suppose you want hall of my sardine and jelly sandwich.”    I I New Hope Saloon’ May Give Drinkers a Shock OAKLAND, ('alif (UPI) -When the other liars throw you out, the New Hope Saloon welcomes you in. But you may be shocked into sobriety once you net inside At least that’s the aim of the New Hope’s proprietors. The New Hope is a drop-in facility for drinkers More than 125.001) have stopped there since it opened IO months ago. A strander in town, seeing the big "saloon” sign. is in for a surprise when he gets Jo the bar. The spacious hall has benches, chairs and stools at a bar-like table. Its patrons sit around, sipping juice or coffee from paper cups ‘‘We’re in the business of screening and counseling the street drinker,” says Keith Lewis, head of the saloon’s staff of six "We want to find out his individual needs and problems. We can refer him or her to the numerous services available.” The drinker may be sent to a more intensive detoxification center, to a clinic for medical care, or some place where he can get a bed for the night if he needs it. There are those who lust want to take a shower and nap for a while before going home after a bout on the ti wen. The New Hope Saloon welcomes them. “All of us know how" to respond to the needs of the* street drinker.” says Lynn Armstrong, another of the staff members. “We know their language, and how to .com municate with them. And, most important, they trust us.” GAZETTE TELEPHONE NUMBERS for N*m. Sport*, Bookkeeping, Gentled Infer 7 O' r n ond Off , es Mot list-I Bolo* (J!! Circulation-Subscription Dept Mon thru Sot 8 o rn to I p m Sunday! Until 12 Moan Holidays It am to 7pm Want Ads Mon thru Fri 8 a rn to 5 p m Saturday tint 11? Moon 0 splay Advertising 8 o rn to 5 p m. Horton Office 398 8211 398 83JU 398 8234 391 8??2 398 8430 The Investor’s Guide SHIH SK V By Sam Shulsky Q — Several friends in the $10,000 to SIS,OOO income class feel that this is an ideal time to invest. We have widowed parents and also face the problem of educating our children What would be your thoughts on four-to five-year Investments for both the parents and for the children: bonds (B-rated); utility stocks yielding 12 bt 16 percent; short-term government or agency bonds; no blad money market management funds? A —    lift's    make it clear    at the start that every dollar you are talking    about    is already    invested — whether it’s in a sax ings bank, in E bonds, or wherever What you evidently are considering is a movement out of dollars into securities — stocks, bonds, mutuals. For the parents, it should be obvious, safety and generous income are paramount considerations. Treasury or government agency bonds, or AAA or AA grade (certainly not B) corporate issues would be suitable. Setting a maturity limit of four to five years makes sense only if you feel interest rates are going    still higher and, therefore, you don’t want    to lock them in at current 8 to 9ty percent rates. No load money management funds are one way of keeping au courant with changing interest rates. Utility dividends yielding 12 to 16 percent, it seems to me, must lie considered vulnerable. For the youngsters you must make a choice between: a) high-yield debt securities purchased with the thought that with little tax liability, most or all the interest could be retained and added to principal; or b) growth stocks purchased on the hope that equities will resume their growth some time in the next four to five years I must admit that over the last few years, this second hope has been in vain. • * * * Q — We have been considering buying IOO shares of FMC for each of our three grandchildren, hut a broker doesn’t seem to tie interested How can we find out about the company, the difference between its common and preferred? And how do we go about buying it? A — The shares are traded on the N. Y. Stock exchange, which, I notice, has no member firm in your town Still, it seems some broker or commercial bank could be of some help. Otherwise your best bet is to write to the Investors Service Bureau of the N. Y Stock exchange, Dept SU. ll Wall Street. New York, N. Y. 1IN105, and ask for a listing of member firms servicing your area FMC, quoting from Moody’s handbook, is a diversified manufacturer in machinery, defense, chemicals, fibers and film Stock is "medium grade.” Standard and Boor’s grades it B plus, which is “average.” The common has paid some dividend every year since 1935. At a recent market price of about 13. the 92-cent dividend works out to a yield of about 7 percent. The company also has a $2.25 cumulative preferred, which is convertible at the investor’s option, into 1*4 shares of common. This preferred recently sold at 26 — so there isn’t much chance anyone would now turn in one share of that stock for 1*4 shares of a $13 stock. At 26, the $2.25 dividend works out to a yield of 8 6 percent. Why would you buy the common instead of the preferred? Because there is more immediate market play in the common than in the preferred, because its dividend is not fixed and could go up (or down). The preferred is cumulative, which means any omitted dividend must he paid before the common could receive a dividend. The preferred dividend is fixed. Any chance for market gain in the preferred must depend upon a rise in the common, a decline in interest rates, or both • # * Q — I’ve heard late night broadcasters tell their listeners to cash in their U. S. savings bonds, take all their savings out of the hank and invest in gold stocks and gold coms to be stored in their hank vaults. What should I do? A — One answer would be: get to sleep earlier. Seriously — there has been no dearth of doom-and-gloom predictions. I can’t go along — not because I think everything is "hunky-dory’’ and that we are living in the best of all economic worlds — hut because I can’t visualize how ordinary bilks are going to he aided by a hag full of gold coins if the U, S government collapses — which is what these people are preaching. Do you think your grocer is equipped to lake gold coins in exchange for bread and milk? Or have you some secret hideout in Marrakesh to which you can repair if our domestic roof falls in'’ If all this effort now being directed toward setting up medieval defenses (hidden gold, fond secreted in rural cellars) were directed toward convincing our government that harsh but necessary controls are needed, at once, we wouldn’t have to worry about the future of ti. S. greenbacks. * • * Mr Shuliky *elcom<x written aueOionv but he will be obi© tn oroviOe answers only through the column For information on retirement and pre retire ment planning, olease include a self addressed, stomped envelope Address your requests to Sam Shulsky, care of The Gazette Smulekpffs Jewelry Dept Main Floor Finest Quality Birthstone Mother s Ring To signify family love \< and unity. Twm-braided IO karat yellow or white gold bands signify husband and wife — |Oined together with a synthetic birthstone of the month for each child in the family. Mother will wear it with pride . . . and cherish it forever. Order Your Mother s Ring for Christmas. Use Our Layaway Plan Now. Open Tonight ’til 9 Small Appliances, Main Floor Open Tonight (Mon.) ’til 9 ^_ PRESTO HUMIDIFIER adds needed moisture to dry, heated air. £ I*' TOP GRILL! FOR INDIRECT fLOW OF AIR AUTOMATIC HIJMIOnU! MAINTAINS OEVIRFO WITHOUT DRAFTS    (    ('J \    IFVFl    OF    HUMIDITY . I IO GAU OM i , \J RUSTPROOF ‘J jib v r JfM I1 A w‘ vA i ATTRACTIVE ' J] I UI ji] A ii f / ., lf WOODGRAIN    ti } I Ii,ill lf* ll’ WOODGRAIN (ABIMFt FITS AMY ST TLF OF OlCOk — '.'ii tv; I,! "lf ft 'Mi V11 I',    K .    -..ft w ’• I, 'N1' Mi Si',, kl •>" k /    \(    V    ii    I* I ’til i■./,; p1 vli *M-ii U lljm ll J; ! i'TO* 'V, ■ SI DF VFMTS FOR ESTRA AIR FLOW • - Atom ,4 OO TH ROLLING (ASTERS \ make it easily port aile 'removable water TANK FOR EASY CLEANING v. M b ■ Humidifies entire home-up to 12 gallons daily ■ Easy to fill and clean ■ Ends dry air that causes dry skin, sore throats Protects furnishings, house plants, carpets ■ Reduces static electricity ■ Lowers heating costs I Helps you feel better, protects your home ft 9a Standard Model PRESTO HUMIDIFIER . THE COMFORT MAKER! Portable. Smooth-rolling casters make it simple to move to any part of the home. Third Avenue at First Street Downtown Cedar Rapids Three, acres oj MagicSmulekpffs NOW! Big Savings With Trade-In FINE HOME FURNISHINGS V J J    “_FREE DELIVERYNEW 1975 Models Presenting the XL-10Os With 100% solid state 100% Solid State No Tubes to Burn Out Big Trade In Allowance For Your Old Black and White TV Set Smulekpffs THIRD AVENUE AT FIRST STREET S t. DOWNTOWN CEDAR RAPtOS Yes, genuine RCA COLOR TV . . be«t in the industry. . oil new models, yours to choose from Ext^a Big Trade in Allownce for your old Black and White TV Set. ItC/l Tit* Allison Hod* Glue RS*    im.I .it n JTB TM »a«UlNfO«N I rn. BaJI K...H TS’ d<4(oii«i ac tux Act NOW! Trade In Your Old TV For ROA COLOR TV I Open TONIGHT (Mon.) ’til 9 p.m. A fabulous Sale at Smulekoff s offering outstanding values. Now is the time to give vour family the best in TV enjoyment . . . RCA COLOR TV . . . You’ll find extra Ii berat trade-in allowance for your old black and white TV set and an array of cabinet styles from which to choose. Beautiful cabinets, life-like audio and true to life color picture are yours with an RCA COLOR TV. Makes TV enjoyment come alive ... so act now, get COLOR TV enjoyment at rare savings. Come NOW to Smulekoff s in Downtown Cedar Rapids. Now Big Savings With Trade In ■Tm ll TM I AM AMCN A "o*1 en* 71* iingwni picture REE PARKING    ~ Use Park and Shop Plan ;

  • Allison Hod
  • Keith Lewis
  • Lynn Armstrong
  • Sam Shulsky
  • Virgil Partch

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Publication: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Issue Date: December 2, 1974

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