Cedar Rapids Gazette (Newspaper) - September 2, 1974, Cedar Rapids, Iowa
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The Cedar Rapids Gazette: Mon , Sept. 2. 1974
K> Oswald & James Jacob)
Oswald: "One of the principles of play at all card names is to give the cards a chance to behave for you. Sometimes they just do."
Jim: "Here is a hand played bv Carl Hultman of Dallas in a recent tournament that illustrates this He might have doubled four spades, but it looked to him as if that would
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♦ A 74
AP WirephotoFeeding Time
Seven-year-old Heather Swallow of Redwood City, Calif., bottle feeds a 2 I 2-month-old lion cub named Roark at Marine World Africa U S A. Heather s father is Ron Swallow, veterinarian for Marine World.
North- Soul Ii vulnerable
West North Fast South
Pass Pass tv
24 3* JA 4 V
Pass Pass 44 f> V
Pass Pass Pass.
<'polling lead K ♦
not be a good score, so he took the push to five hearts ”
Oswald "West opened the king of diamonds. A quirk look at dummy showed three apparent losers — two in clubs and one in spades. Could he do anything about if’ He could give the cards a chance and hope "
Jim "He ruffed a diamond at trick two; drew trumps and led a low spade toward dummy’s ten. Fast won the trick and did the best he could by leading the deuce of clubs Hultman rose with the ace. played the ace of spades: ruffed his last spade, ruffed dummy's last diamond and led a club. West won and had to give South a ruff, discard and hts contract."
Oswald "West congratulated Carl and pointed out that a club lead would have beaten the band, but somehow or other he had never even considered
titres of ‘JUPM. Cleveland Fleet rte Illumining first mortgage ft*4s of 2fM>9 N. Telephone ti percent hinds of 2014; Texas Power and Light n»4s of 2004
* * *
I ve made 17 payments of Sid each into a mutual fund Tin' first 13 monthly buying charges were $25 a month, and $2 85 thereafter. So tar. I’ve paid out $850. but my shares are worth only about $433 Should I continue? I'm a 50-year-old woman
\ — Your fund is a highly speculative mutual and the last IK months have not been kind to speculative stinks Fven so. you must keep iii mind that its unfair to compare the $850 you’ve paid in with the market value of the shares acquired since $325 of your $850 m the first 13 payments alone went for buying commissions arid were not allotted to stock purchases
I can t predict the future for this. or any other fund but it would seem to me that it certainly has been holding its own so far
Continuing the attempt to shed some light on the utility picture following the shock of the Con Edison dividend omission
The I’tility Scope study of Argus Research Corp says "We continue to view investment in the electric utility industry as unattractive Along with the fundamental problems of inflation, steady erosion of investor confidence is making it extremely difficult for individual companies to raise permanent capital "Against this background. we consider it entirely possible that another Con Fd type shock could occur in the industry within the next 12 18 months For the longer term.
The bidding has Iveen 2
West North Fast South
IA Pa ss
Y ou. South, hold 4 A K Q .I 111 5 4 V 8 5 4 b 2 A 3 2
W hat do you do now’’
\ —Bul iwo spade*. 5 ou want lo show your great strength im-niediateb.
TOIMY'N Ut FSTR IN
Your partner rebids lo three clubs Wha I do you tie now ’
Q—I’ll be retiring soon, at age 82. on about $!7.(NMI a year, including social security. I have $80.(MUI in savings certificates earning 74 percent. Should I buy a $40,000 condominium with SIO (HNI down. in order to take advantage of the tax credit from interest, realty taxes, etc ? My wife wants to leave the $10,000 in savings and continue renting A—First — let s put aside any debate over personal wishes on owning vs. renting. That s not for me to get into Secondly A $40,000 condominium. you must figure, will cost you at least $4 (NMI a year “rent" — whether you buy it for cash or put down $10.IMH! What the tax advantage resulting from realty taxes and mortgage interest will amount to must depend entirely on your tax bracket in retirement (Don’t forget, your personal exemptions double at age 85.1 Thirdly: lf you are asking whether a couple with income of $17.OOO can afford a $40 IMN) home. I would say yes (but always keeping in mind that $4 .OOO — minimum — total cost, including the income potential of the money you put into the property).
we believe that a definite ‘two-tier’ utility market will develop. with higher-qualily stocks emerging from the current investor-confident e crisis in relatively good shape, but with many of the lower-quality issues remaining in disfavor "
It would Im* presumptuous of me to impose any personal opinions on the professional views expressed here in the last few days
A few generalizations emerge The consumer must expect to pay much higher prices for power; many utilities that have increased dividends frequently in the past are not likely to do so in the future, tougher accounting rules may deplete current earnings available for dividends, state regulatory bodies will have to "get on the ball."
Perhaps it is an oversimplification, hut it seem* to me that if a utility company gets into financial trouble through mismanagement low rates. juror accounting practices or a combination of these and any other additional factors. state regulators are certainly in no position to absolve themselves of all blame
A public utility is a closely regulated business and if the state is going to effect profit ratio and other upside controls. it has some responsibility toward maintaining downside defenses toward maintaining utility viability, a* well.
Perhaps not only the consumer hut the regulatory bodies are going to have to change their thinking alroot utility profits And therein, it seems to me. In* the main hopes of the large mid section of utility companies The utility common stuck was rarely a glamor growth vehicle I trust it will continue to be a gocrd income sourceEx-Leader Of Italian Right Dies
(’ADI/, Spain (AP) — Prince Junto Valerio Borghese, the "Black Prime" who sank British warships in World war Ii and became a leader of the Fascist revival after the war. is dead at 87
A fugitive from an Italian arrest warrant sine** 1871. the prince died recently of acute pancreatitis in a Cadiz hospital. officials said He had tieen vacationing in Coni! de la Fronter!, a coastal village 25 miles to the south
Borghese fled from Italy in March 1971. when he was accused ol heading a Fascist plot lo overthrow the government thai never came off.
Born to an ancient Tuscan family that included the 17th Century Pope Paul V. Borghese became one of Italy’s war heroes iii 1942 when he led the naval commando force that sank the British warships V aliant and Queen Elizabeth in Alexandria harbor
After the Italian government fell, he went to the- Republic of Salo and fought the anti-Fas-cist partisans A postwar tribunal convicted him of collaborating with the Na/ix. but he was freed iii a 1948 amnesty
Borghese joined the Italian Social Movement — MSI — the postwar Neo-Fascist party, arid for a time served as its president Iii 1887, he decided the* MSI was riot Fascist enough and organized the ul-trarightist National Front, italian papers dubbed the leader the Black Prince, art allusion to the black shirts worn by Mussolini's Fascists. The party dissolved after he left Italy
Borghese is survived by four children His wife,a former Russian countess, died some years ago.
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Q«~My husband is 54, recently inherited $5,000 Should it go into F bonds or into savings certificates?
A —Depends upon whether you want to put that $5,000 away for. say, IO years until retirement in a 8 percent, tax-deferred investment, or whether you want taxable income from the money now.
Nooeumulativr; A preferred stock on which unpaid dividends are not accumulated as a claim against the corporation Omitted dividends on a noncumulative preferred are. as a rule, lost to th** investor.
Vf AND LOAN ASSOCIATION U " 7--U
200 First Street Southwest, Cedar Rapids (52404) JV —- .... mm
1930 Lower Muscatine Road, Iowa City (52240) V m
Sixth and Grand, Downtown Des Moines (50307) arn —- — ^
First and North Trilem. Ankeny (50021) Kl, J
36th and Ingersoll, Des Moines (50312) m t»- ■,« I22nd and Westown Parkway, West Des Moines (50265) VV JV VI VI JV KH VI JV JV JVv We used to be First Federal Savings and Loan Association ot Cedar Rapids and Home Federal Savings and Loan Association of Des
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some AAA-rated fronds un the Fitch Investors Servile June-July listing: A T arid 18 8 percent debentures of 2tMi5: Chesapeake and Potomac Telephone 8 7/8 percent deben-