European Stars And Stripes (Newspaper) - August 14, 1977, Darmstadt, Hesse                                Page the stars and stripes August 1977 Mart at 19month by Frank new York Dpi stocks Ell to their lowest level in 19 months last week in slow trading As the Federal Reserve Board continued to tighten credit to counter an inflationary surge in the nations Money Dow Jones Industrial which lost Points the previous skidded Points to the lowest level since it finished at on it has lost Points this the nose common Stock Index Felt to and Standard it poors 500stock containing some overt counter lost to declines routed to among the issues traded Hie big Board volume of Down from the previous was the  turnover since million shares changed hands the period ended april turnover during the same week a year ago totalled 640 composite volume of nose issues listed on All exchanges and Over the counter totalled compared with the previous the which has made Money tougher to obtain for the past tightened credit further thursday prior to reporting a million hike in the Baste Money rest of the news background was Early in the Treasury Secretary Michael Blumenthal sparked some self ing when he told the Senate finance com Mittee the nations Trade deficit could exceed is the administration previously had predicted a deficit up to v on the brighter the labor depart ment reported a per cent dip in july wholesale Price Index Industrial commodities prices Rose per following a per cent Rise in but the National association of Pur chasing managements latest Survey Chase fell sharply in july retail sales Rose lowing a revised u per cent the Boa i showed consumer spending plans were sharply president Carter caused some trouble last week by declaring verbal War on the steel general motors the most Active nys eusted fell 2 to 6sh a i971owon font lost m to 42 and Chrysler a dividend slipped to Norton Simon was the Active Ott w Touvi on Babcock the third mos Active climbed m to sch on Ray Mcdermott has offered a share for Stock and United technologies a is fighting both me Dermott Stock gained m it Stock to 3w after Crane made t tender Fol to 28 after Survey Coia Pany and Kelogg struck out for the third time k two years in an attempt to reach a merger on the Stock the Market value Index lost to 12037 and the average Price of a share dipped two topped 501 to among the my takes volume totalled com pared with the previous week and during the same week a year Oil the mos Active Tell in to s9 on shares despite reporting higher earnings and raising its Kewanee the second most Active gained 3a to 45 on the third mos Active soared 13 to 43 on Mutual funds prices new York up four who u a lilt i Mara of ipod or Len on Mutual fund at aug Ted of Minaso August it77 by Alk Acorn cd adv inv Atno cd 711 400 attn in Auturo j7 age cd set Altott 141 Alpo cd 1017 am birth am qty Amer fund Roopi 110 us 171 441 am Mut and a 11101440 Copf a 417 414 Gottl am 110 inc am inv am it ius new part 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dividend preferred and pay a substantial Premium above Par value for it you always stand the risk of having the Security taken away from you at a lower Stock pulse nose child Lobl a not a a Kim Arr pm Chw aural pot pm i a sumo 10 my i 11uoo 1m4 4m 4j 74 cowed 140 Tzuoo 140100 74 Jardmo 140 171400 4m hmm 4j 74 Vosz s ht5i1 to Mosbs so m u so 444 in m it 07400 in 140110 ii 140 140hxo botch air 1 town car 40 Jeh nov 140 or Tiv 1kb Tromar 40 of Oft Carat old a 4 us us 14 Sam 444 us u is 441 to 14 144 u 14 41h t 444 to Mido 140100 44 4ilk 1114 in u it us 14 7j 44 40h1h s44 7 j 44  act Vot div of Al on 41 Mimir i 40 sufi Tor 40 to Portl 41 Champ he ahm Arth pm ooh bom old 1s1joo it us Hugo 114 110 14 u7400 in 4tho to too so Tojo to 147 lit u 54400 4k in lit 14 2u09 147 to so 44 hmm n m Sun air Wui of oho Abbt Borot i old 140 Jod to m jj4 7j to 49b u to Kab inc 40 Itrat 144 it to i i 400 10h Ort 117 40 14 Wonola 44 in u jobs re s s s Thomlin it Pep Rico to two Dom a Whf to Kymm Kohl u  for sinking fund of for other redemption i i Jive consistently that paying a High Premium Means you could be Vulner the redemption privilege by itself does not deny the fact that a High Grade or is a Good source of retirement income for the if you dont pay More than Par for a Bond or preferred you cant lose if it is called away from you for any fur it wont be called unless Money rates fall sufficiently to make a refunding possible and that decline could be any where from 1 to i percentage it is True that Bonds which were issued two to three years ago carried very High rates and that some Are now being but if you bought them at the Issue Price there to virtually no Way you would lose Money if they Are called As to this trend becoming quite u is still not common and is not Likely to become so unless Money rates decline and on that likelihood you can get any argument you i recently sold some Slock two weeks before the dividend checks were pulled am i la titled to the dividend the mailing Date for the dividend of the Stock Market on the Day before h went the dividend belongs to if you sold it earlier than that you sold it with the dividend attached and due the t i have had very Good Market results due almost in urello the Stock Market and to my having finds available to invest at a Tow ofe Market seems to swing downward every  t be a Good idea la accumulate Cash funds for baying oppor Taulty you of posed the there Are Cycle experts who follow a 49month Market and there Are Many other time As looking at a 50year do Jones Indus trial Chart i spot Market Bottoms in a flattening Bottom in 1947841 if that provides a sort of Wall St philosophers Stone for be my guest but there can be no doubt that the Stock Market is cyclical allowing itself to be pushed too in either direction at certain Shusky welcomes written act Bat be jul be Able i provide an Swers Only through the fur lists of growth and dividend please toc Tode stun put envelope foreign address Yoor req eats to Sain care of 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