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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Aug 01, 1983
Page
23
The FTC warns that thousands invest in diamonds each year chasing quick profits but many lose money. Buyers should study grades, prices, and history, avoid pressure tactics, secure terms in writing, check lab reputations, and beware resale difficulties and non guaranteed profits.
In New Jersey and New York officials search for former coal gasification plants after a mysterious liquid oozed into Shark River Belmar Belmar Three Acre Park. The base neutrals like naphthlene and anthracene found underground may contaminate soil and groundwater. Authorities warn residues were dumped at landfills or used for road paving and urge rapid land-use checks.
Prices opened lower on the New York Stock Exchange amid investor concern that interest rates may rise further. The Dow fell 4.71 to 1194.50 after a Friday plunge, with declines leading advances 707 to 265 among 1,299 issues. Analysts see potential a rebound later in the week but expect the slide to continue at session end. The July Dow loss was 22.74 points, while the Fed reported a $1.4 billion money supply increase adding to unease.
A new Equity Income Fund unit trust lets AT&T shareholders swap shares for units in the trust before January 1. Each unit reflects eight Bell System stocks in 1 for 10 proportions with a 98.5 percent share value and 1.5 percent sales charge. The plan avoids cash spins, offers monthly dividends, has 25 year term, and allows in kind or redeemed distributions with tax neutrality on the exchange.
Queued stock report notes liquidating conditions, warrants, ex dividend, ex rights, ex distribution. Sales listed in hundreds, with many items omitted except those traded in ten share lots and carried in full.
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