New Braunfels Herald Zeitung, April 21, 1985, Page 6

New Braunfels Herald Zeitung

April 21, 1985

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Issue date: Sunday, April 21, 1985

Pages available: 103

Previous edition: Friday, April 19, 1985

Next edition: Tuesday, April 23, 1985

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All text in the New Braunfels Herald Zeitung April 21, 1985, Page 6.

New Braunfels Herald Zeitung (Newspaper) - April 21, 1985, New Braunfels, Texas Bond Buyer index Index of 20 municipal bonds; 20 year maturities, various ratings 11.0% _ 10.0 9.5 D 9.0    1    8    15    22    1 8 15 22 29 5 12 Fed.    March    April Chicago Tribune Charts Dow Jones average 30 Industrials 1320 ” Money supply [MI] In billions of dollars R=Revised Feb. March April J—I—I—I—I I I I I I I I L_ 30 7 14 2128 7 14 21 28 4 11 Jan. Feb. March April Commodity futures index Index of weekly closing prices of 27 key commodities; 1967=100 270 260 250 240 230    1    8    15    22    1    8    15    22    29    5 12 Feb.    March    April Source Commodity Research Bureau 3-month Treasury bills Percent, weekly average interest rate 9.5%    -, M ***    «    • Aa! J, ± 90 8.5 8.0 7.5    1825    1    8    1522    1    8    15    2229411 Jan. Feb. March    April messHarald-Zfitung Sunday April 21,1985 SA Market caught in slump NEW YORK (AP) — In the midst of stormy activity in the bond and currency markets, the stock market lately has been becalmed. The dollar has fallen significantly from its early-1985 highs against leading foreign currencies. Interest rates lately have been tumbling in the credit markets. At the same time, numerous signs of a slowing economy have prompted a heated debate among economists over whether a recession looms. But while individual issues may respond dramatically to a takeover rumor or a disappointing earnings report, the overall stock market has essentially gone nowhere for several weeks now. Since early March, the Dow Jones industrial average has been stuck in a narrow range between 1,250 and 1,275. Not since March 19 has the average posted a net change of as much as IO points in any session. This noncommittal behavior has variously been interpreted as a sign of uneasiness, confusion or just plain apathy among investors. Whatever its cause, it has given investment experts some trouble. When nothing much is happening, it is difficult to analyze. In recent days, the Dow Jones industrial average managed to string together seven straight sessions of gains. But for all its trouble the average rose less than 20 points over that stretch. At the close on Friday, the widely recognized average of JO blue chips stood at 1,266,56, up .88 from the week before. Other readings for the week showed the New York Stock Exchange composite index up .36 at 105.00, and the American Stock Exchange market value index up .54 at 231.02. Big Board volume averaged 91.38 million shares a day, against 93.33 million the week before. The market has been beset lately by fears that the peak of the current economic cycle has passed. If a recession were approaching and the market was following its textbook pattern, it should now be — or soon start — declining in anticipation of the negative economic news to come. But analysts who take an upbeat view of the market’s prospects say some of the key ingredients of a classic top are missing from the current recipe. At a typical top, they say, interest rates are high and rising, driven upward by a strong but unsustainable demand for money. That is not the case now. Nor, observers point out, are there many signs of speculative excess in the stock market. ‘We find a conservative, somber mood according to our studies,” reports John Mendelson, analyst at Dean Witter Reynolds Inc, Report— Coke plans to change formula ATLANTA (AP) — The 99-year-old, top-secret formula used to make Coca-Cola soon will be changed, according to a report published Saturday. The new formula was developed in a secret project launched ui January, The Atlanta Journal and The Atlanta Constitution said rn their combined Saturda> edition. The newspapers, which quoted no sources and said the company would not comment, said a possible reason for the new formula was a drop in Coke’s market- leading share last year. Coca-Cola Co. spokesman Carlton Curtis declined comment except to say there would be a news conference Tuesday at which “the most significant soft drink marketing development in the company’s nearly 108-year history w ill be announced." The current formula, known as • Merchandise 7X.” is frequently described as the best-kept secret in American industry. It was developed by Dr. John Pemberton in 1886. Financial focus Mutual funds help smaller investors By STAN CUNNINGHAM. Edward D. Jones&Co. Last week, we began our discussion of professionally managed investments by pointing out there is private professional management and public professional management. If the amount you have to invest is less than $100,000, you might consider public professional management using the medium, investment company trusts, commonly called mutual funds. In a sense, the name mutual funds describes the purpose. You’re pooling your resources with others like yourself for your “mutual” benefit. You may have $1,000 to invest. By yourself, you couldn’t get the diversification you require, no could you have your investment receive private professional management. However, assume you could find 999 other people with the same financial goals as yours. Together, you and your friends — now 1,000 strong with $1 million of investible funds — are big enough and have sufficient    assets    to diversify, spread your risk through investments in various companies and industries and hire a professional to select    your    in vestments and constantly supervise and monitor their performance. This manager is responsible for the performance of your investment, and the reporting of its progress or lack of progress to you. You’re turning over your investment to    be professionally managed    — in    this case, public professional management. You should, by all means, choose the management with the same care you would devote to selecting a private money manager. Several weeks ago we discussed the selection of an investment adviser. We pointed out reputation should be strongly considered as well as competence, standing in the professional and investment philosophy. Does this philosophy mirror the same goals and objectives you wish to achieve? The same criteria should be applied when selecting a public professional manager. Investment term of the week Investment Company — a company or trust which uses its capital to invest in other companies. There are two principal types: the closed-end and the open-end, or mutual fund. Shares in closed-end investment companies, some of which are listed on the New York Stock Exchange, are readily transferable in the open market and are bought and sold like other shares. Capitalization of these companies remains the same unless action is taken to change. Open-end funds are so called because their capitalization isn’t fixed; they issue more shares as people want them. NOW SERVING New Braunfels Patrol Service Polygraph Investigation Patrol Officers Since 1903 1017 North Main, Suite 201 San Antonio, Texas 78212 Lie. C-0217 (512) 225-6558 Million That s an impressive figure And it s an impressive honor to be in the Million Dollar Round Table It s the only world-wide recognized honor for life insurance sales performance It s conferred annually on agents who meet the qualifications for excellence in sales and service We think a million of Henry T. Martin. HENRY T. MARTIN 353 Landa St. New Braunfels, Tx. 78130 625-2343 n Southwestern Life People with Answers DESIGN GENESIS A Full Service Design Firm Announces Its Opening For The Practice OI: landscape architecture MASTER PLANNING SITE FEASIBILITY STUDIES URBAN DESIGN PARK DESIGN j. joseph couch, asia 26 Moss Rock New Braunfels, Texas 625-0826 A NEIGHBOR NEW BRAUNFELS CAN DEPEND Our home town is grow mg And SASA is a part of that growth As one of South Tbxas’ old est and largest financial institutions, we have the strength and stability to help build your dreams We offer you everything you’d expect from a full financial center Mortgage loans Loans for home improvement. Savings ON. and checking acce>unt s Money Market accounts Tax deferred retirement accounts Certificates of deposit And SASA’s 24 hr BAN KINO CENTERS It’simpor taut your savings and checking deposits stay in town to help you glow and prosper So drop m for a visit. We ll be flappy to explain all of SASA s f ull financial services In fact, we’ve already helped many of your neighbors become acquainted with SASA till I-service bank mg Harking you with (j;i years of solid (man cia! experience. SASA A neighbor you can depend on Z- 501 Landa, New Braunfels, texas 78130* 512/625 8051 • Member FSLlC San Antonio Savings Association • W W "Bo" McAllister HI, Chairman • An Equal Opportunity Employer M/F ;

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