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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Aug 16, 1977
Page
5
A reader asks about buying calls after selling stock at a loss and notes the stock has fallen further. The adviser warns that without goals it is hard to decide and explains calls offer optional stock at a lower outlay but risk losing the premium if not exercised.
The wash sale rule disallows deductions when a loss stock sale is followed by a call purchase within 61 days. The 61 day window spans 30 days before to 30 days after the sale. For IRAs, contributions may be deductible if made within 45 days after year end, with deductions applying to the year the contribution is applied. IRA setup can occur in the same taxable year as the contribution.
Snyder's Dutch Pretzels at 3918 N Brown Ave is sold by Red and Sharon Miller to Sam and Kathy Bailey of Willcox. The Millers move next door and open Sharon's Homemade Ice Cream at 3912 N Brown. Bailey keeps the same menu and suppliers. The original shop hours span weekdays 7 am to 4 pm and Saturdays 7 am to 3 pm. Sharon's offers ice cream and frozen yogurt with fruit, sundaes, shakes, sodas, orangeade and orange freeze with hours Monday through Saturday 11 am to 11 pm and Sunday 2 pm to 11 pm.
Siemens AG Munich Berlin reports world sales at 7.15 billion for the first three quarters, up eight percent from 1975 76. Exports and subsidiaries outside Germany reach 3.57 billion, matching German sales. Exports rise 18 percent to 2 billion, while orders climb 13 percent to 8.26 billion for nine months of fiscal 1976 77.
AP rounds up late NYSE quotes with many names listed including AMBAC ABends Airco Arizona Atari Exxon, Coca Cola and Xerox. Stocks show scattered gains and losses in broad market activity as Dow Jones averages retreat modestly amid varied price moves.
Selected price movements across American Stock Exchange issues show varied activity with notable changes in several listings. The report highlights bid and last price shifts among numerous names, including tech, energy, and industrial sectors, reflecting overall market volatility and trading interest.
An IRS announced free evening course for small businesses to learn federal tax obligations. The session runs 6 30 to 9 30 p m and covers record keeping forms and deposits with free business tax kits. A 30 minute film titled Hey Were In Business will be shown in Room SC 161 at 9000 E Chaparral Rd.
AP reports Tuesday stock moves on the New York Stock Exchange and American Stock Exchange. The lists show rising and falling names with percent changes and noon prices, excluding securities below $2. Names include BayColPrp Elect Assoc Fedders OY Seatrain Lin WhitingCp Naco Chem ComtuRity Benguet and others on the NYSE. King Optic UVind HanwSq Alt WangLbB Aloolac Inc and more on the AMEX. declines feature Mansid TA Compound n Xonies Inc Drug Fair ElecAud Dyum and others with losses shown by percent.
Closing price quotations from Madda Trading Co list London gold at 143.00 per ounce down 0. c London Jul coffee 2.12 down 1c Ib and cocoa 2.08 down 0.5c Ib. IMM Aug gold 143.90 up 1.30. Sep copper 53.40 up 1.4c Ib. Sep wheat 2.204 up 2.4c bushel. Aug soybeans 5.47 down 7c. Aug live cattle 40.32 up 35c cwt. Aug hogs 43.97 down 20c cwt. Oct cotton 3.01 up 0.5c Ib. Market not closed.
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