European Stars And Stripes (Newspaper) - September 24, 1978, Darmstadt, Hesse                                Page 16 the stars and stripes sunday september 24, 1978 gaming issues Lead Market decline by Frank w. Slusser new York up gambling issues were pounded As stocks fell for the second straight week in reaction to Federal re serve credit tightening and rising interest rates that sparked recession fears. Trad ing was moderate. The Dow Jones Industrial average which plunged 29.19 Points the previous week skidded another 16.11 Points to 862.44. It lost 50.58 Points in a seven Day skid through wednesday. The new York Stock Exchange Index lost 1.46 to 57.35 and Standard & poor s 500 Stock Index shed 2.28 to 101.84. Declines routed advances 1,582 to 355, among the 2, 122 issues traded. The Market recovered somewhat late in the week with the help of Barg Airt Hunters. But gambling stocks suffered huge losses As the nose and american Stock Exchange forced investors to put up More Cash to Trade in gaming issues that had scored unprecedented Short term gains. The fed dominated investor thoughts. It raised its discount rate �4 Point to 8 per cent Friday. This put upward pressure on Short term rates and could Force Banks to raise their prime rate that now stands at 9% percent. The Dollar fell on foreign exchanges during the week. Traders were nervous about Arab criticism of Carter s Middle East peace formula worked out at Camp David. However Wall Street was hopeful of some sort of Success despite the bitter rhetoric. Secretary of state Cyrus Vance said he had accomplished what he had set out to do in trying to win Over Jordan and saudi Arabia. Big Board volume totalled 164,178,260 shares Down from the 192,099,398 the pre Vious week but up from the 93,544,630 traded during the same week a year ago. Composite volume of nose issues listed Mutual funds prices new York up following is a list of bid and asked prices on Mutual funds As quoted by the Nash inc. Friday september 22, 1978 q it acto1u wbk Acorn cd 20.33 . Adv inv 10.70 . Future 12.04 . Age cd 4.78 4.88 Allstate 9.64 . Alpha cd 12.30 . Am birth 10.06 10.99 Amer funds group am bal 8.43 9.21 am Cap 8.57 9.37 am Mut 10.73 11.73 an Daly 1.00 . An Gro 7.22 7.89 and a 14.14 15.45 Cap f a 8.40 9.18 and inv 7.00 7.65 Goth am 7.62 8.33 inc am 8.23 8.99 1 c a 15.97 17.45 new prs 6.72 7.34 Wash m 6.98 7.63 Amer Gen l group a Bdl 23.85 25.04 a Gabd 8.64 9.44 a a car 4.82 5.27 a in inc 6.42 7.02 a g Ven 18.60 20.33 qty or 8.19 8.95 and am 7.17 7.84 prove in 3.90 4.20 am Goth 6.65 7.17 am Merit 1.90 z am Insun 5.33 5.83 am invest 6.76 . A in inc 12.76 . Ant or 3.85 4.21 Amway 9.95 10.64 am Opte 4.93 5.39 axe Houghton fund b 8.21 8.92 income 4.77 5.18 Stock 6.32 6.91 blk Goth 13.01 14.21 Babs inc 1.70 . Babs inv 10.15 . Beacon 9.38 . Bean i 10.07 . Berger group 100 and 9.47 . 101 and 9.82 . Berksh 7.98 8.72 Bond St 5.62 6.14 Bost fun 9.60 10.49 3ull and bearer a Cap am 8.84 . Capital so 7.64 . Calvin Bullock Bull cd 13.48 14.73 can cd 7.59 8.30 div shr 2.92 3.19 income 13.91 15.20 Natad 9.42 10.30 by Ven 14.18 15.50 cd fund 10.61 11.47 cd inc 8.03 8.68 Cash Rev 1.00 . Cap Prev 1.00 . Cent Cap 1.00 . Cent she 12.26 13.22 Chart cd 18.97 20.73 Chase of Boston and bos 6.66 7.28 fron up 4.56 4.93 str is 7.50 8.20 spec 6.30 6.89 chem cd 7.76 8.48 Chep Dol 12.24 . A management Liberty 4.41 4.82 Manet 2.76 3.02 Schus f 10.53 11.50 colonial funds fund 9.34 10.21 growth 4.81 5.26 income 8.43 9.21 opt inc 10.86 11.87 senior 8.86 9.68 Olum g 18.55 .Ommonwealth a & b .99 1.07 c 1.43 1.55 amp by 6.84 9.51 amp cd 8.62 9.27 Onard 14.96 . On inv 10.12 10.50 Nln go 8.53 . Of fit in 6.67 . Conv old 12.17 13.02 country c 11.89 12.85 daily inc 1.00 . Delaware group Decatur 12.43 13.58 Delch f 9.13 9.56 Tif a 9.13 9.98 Del f 12.17 13.30 Delta t 6.31 6.90 direct up 3.95 4.32 Dodg a 22.02 . Dodge a 16.73 . Or Burn 10.71 . Dreyfus group dry cd 13.39 14.63 dry la 18.08 19.76 dry la 9.97 . Numb 9 7.74 . Up inc 7.32 . Tax be 15.03 . 3rd cent 16.61 . Eagle or 11.69 12.78 Eaton & Howard Bain cd 7.99 8.61 fours 8.70 . Goth f 11.08 11.95 income 5.85 6.31 special f 8.30 8.95 Stock cd 9.21 9.93 Edie pc 23.67 . Edson go 10.22 . Elf Tif 9.50 z elfin try 16.79 z fair fld 10.88 11.83 farm b 11.24 12.28 Federated group a Lead 7.94 8.49 Empire 19.15 i 4th pm 18.33 z i inc 14.36 15.36 my m 1.00 . Mon my 1.00 . Opt inc 13.15 14.37 tax for 12.41 . Us gets 9.21 . Fidelity group agr inc 10. 14 . And Cut 8.38 . Capital 9.19 10.04 Contra 11.48 . Day inc 1.00 . Dest 10.60 z equity 1 18.13 . Fund 16.90 16.47 i yield 14.49 . Ltd in 9.39 . Maglyn 36.14 z Munch 9.64 . Purity 10.70 11.69 Salem f 5.67 6.20 Thrift 9.97 . Trend 25.12 27.45 Fin cd programs Fin Dyn 5.73 . Fin ind 4.27 . Fin inc 7.34 . First investors by apr 15.29 16.49 disc cd 7.63 8.34 Goth cd 8.33 9.10 income 8.55 9.34 Stock f 8.24 9.01 1st Multi 8.74 . Istl inc 1.00 . St Vrat 10.00 . 44 Wall 28.23 . Fun or 4.06 4.44 founders group growth 5.03 5.50 income 12.22 13.36 f Mutual 8.39 9.17 f special 11.65 12.73 Franklin group Brown 3.83 4.13 Ditc 9.63 10.38 Goth or 6.87 7.41 for inc 1.96 2.11 us go s 9.22 9.94 utilities 4.82 5.20 res Cap 3.58 3.86 is qty 4.33 4.67 of pack 8.28 8.41 funds inc group Impact 8.1s 6.36 inc shr 6.20 . Indus to 11.0811.36 Pilot 9.45 . G t Pac z z Gate opt 15.75 . Ges a p 27.84 z Gen Sec 11.10 . Goth ind 22.20 . Hamilton group fund 4.42 4.84 growth 7.77 8.49 income 7.39 . Hart Goth 17.67 . Hart la 11.54 . Hid Sec 11.86 12.68 hold to 1.00 . Horace 15.24 16.48 ind fam 4.07 z int Cap 1.00 . It invest 11.52 12.59 inv guid 10.70 . Inv indie 1.43 . Inv bos 9.83 10.60 investors group ids and 5.66 5.87 ids Goth 7.25 z ids and 5.72 6.22 ids pro 3.85 4.19 ids tax 4.72 4.92 Mutual 9.09 9.88 Stock 18.68 20.30 select 8.97 9.65 Var pay 7.36 8.00 inv Resh 7.39 8.08 Isi group growth 5.45 5.96 income 3.63 3.97 trash 2.99 z test so 11.11 12.14istel and 22.93 23.64 Ivy fund 6.61 . J p Goth 11.0011.96 Janus cd 23.82 . Johnstn 21.42 . John Hancock Blanc 8.71 9.47 and cd 18.46 20.07 growth 6.32 6.87 Kemper funds income 10.25 10.90 growth 9.08 9.92 i yield 11.8012.65 Mon my 1.00 . Mun by 10.29 10.80 opt inc 13.30 14.54 Sumit 15.40 16.83 techno 8.97 9.80 total r 11.03 12.05 Keystone funds Cust b1 17.11 17.87 Cust b2 19.20 20.98 Cust b4 8.42 9.20 Cust k1 7.48 8.18 Cust k2 5.38 5.88 Cust s1 18.30 20.00 Cust s3 9.18 10.03 Cust s4 5.51 6.03 Polar 3.66 4.00 Lexington group up Ledr 13.06 14.36 growth 14.12 15.43 income 10.14 11.08 Resich 16.06 17.55 life inv 9.22 10.08 Llyd Cap 10.00 .  Cap do 13.95 . Mutual 13.52 .Lordabbett a Filat 7.86 8.47 and Deb 11.17 12.21 Del Gro 18.26 19.96 income 3.32 3.58 lutheran brother Broh cd 10.43 11.40 Bro inc 9.12 9.97 by mid 9.68 10.58 Bro us 9.45 10.33 Massachusetts co Freem 8.23 8.99 ind f 8.98 9.81 mass f x11.05 12.08 mass Inanc l secs Mit 10.37 11.18 Mig 9.48 10.22 mid 14.36 15.48 Mfd 14.63 15.77 Mcd 9.69 10.45 mfg 14.93 16.10 mob f 9.32 9.78 Mather 17.30 al. Merrill Lynch Basic i 10.49 10.93 Cpl cd 14.55 15.16 equip 1 10.00 10.42 Mun by 9.25 9.44 Ray ast 1.00 . Spa Val 9.98 10.40 mid am 5.63 6.15 Mony cd 9.60 10.49 mob cd 15.72 . Mil in f 9.37 10.24 Mif cd 8.11 8.77 Mif Gro 4.60 4.97 Mutual of Omaha Amer 11.29 11.82 growth 4.17 4.53 income 9.39 10,21 tax for 14.36 15.61 Mut hrs 36.50 . Nat indu 12.24 . Nat l securities Balanc 9.86 10.63 Bond or 4.54 4.89 Divide 4.40 4.74 pref St 7.46 8.04 income 5.78 6.23 Stock or 8.30 8.95 growth 6.02 6.49 new England life equity 18.19 19.77 growth 11.62 12.63 income 13.50 14.67 ret est 16.65 18.10 Neuberger Energy 15.55 . Guard 29.65 . Partner 11.65 . Nea it 7.94 . Newton g 14.36 . Newton in 9.57 . New old 11.72 . Nichlas 22.73 . Nomura 14.24 15.31 nest intr 14.06 . Nuveen 9.29 9.73 Omega 10.63 10.75 one will 15.48 . Oppenheimer aim cd 11.22 12.26 of and 6.52 7.13 income xb.52 9.31 Mony b 1.00 . Opt inc 23.64 25.84 tax feb 9.80 . Time f 10.66 11.65 oct Sec 18.02 19.62 Paramo 10.38 11.28 Penn it 6.09 . Penn so 7.99 . Phila cd 8.88 9.70 Phonix c 8.36 9.16 Phonix f 9.36 10.23 Pilgrim group Pil from 13.48 14.30 capital 3.74 3.97 income 9.52 10.10 Pilg cd 12.01 12.74 Pioneer funds Pion cd 15.65 17.10 Pion ii 20.86 22.80 planned 12.92 14.04 Ali Gro 12.08 13.20 Ali trn 11.73 12.82 Price Rowe growth 11.71 . Income 9.71 . New Era 12.16 . New Hor 10.72 . Prime 10.00 . Tax for 9.85 . Pro cd 7.96 . Pro Inco 10.31 . Prud sys 10.07 11.01 Putnam funds conver 12.52 13.68 equity 13.09 14.31 Georg 13.53 14.79 growth 11.48 12.55 i yield 18.77 20.13 income 7.75 8.47 invest 7.77 8.49 option 13.57 14.83 tax sex 22.4623.58 Vista f 12.53 13.69 voyage 11.98 13.09 Rainbow 2.65 . Reserve f 1.00 . Revere f 5.82 . Safe Seq 10.56 11.54 Safe co g 12.80 13.99 St i Cap 9.11 9.69 St i Goth 10.13 10.78 Scudder Stevens comon 10.75 . Income 13.77 . Into and 15.83 . Mgt is 9.99 . Mun by 9.75 . Special 33.02 . Security funds and cd 9.61 9.88 equity 4.84 5.29 invest 7.86 8.59 Ultra f 14.62 15.98selected funds Selc am 7.14 . Selc spa 13.38 . Sentinel group Apex f 3.93 4.30 Bdl and 7.71 8.43 com St 11.96 13.07 growth 9.25 10.11 sentry 15.53 16.88 Sequia 23.13 . Shareholders Gap Cost 7.90 8.63 enter or 6.44 7.04 Harar 9.40 10.27 Legal l 7.40 7.69 Pace cd 17.39 19.01 Shearson funds a ppr 20.93 22.87 income 18.03 19.70 invest 10.84 11.85 so Dean 22.93 . Sirra or 10.84 . Sigma funds Cap shr 10.72 11.72 inv so 10.4911.46 test so 9.10 9.95 Ventur 9.09 9.93 Smith b 11.16 11.75 sol or 13.05 13.74 so Genf 12.63 13.23 swat inv 8.45 9.14 so inv g 6.39 6.91 sour inv 12.23 13.37 state Bond group com cd 4.54 4.96 dives if 4.98 5.44 Progris 4.94 5.40 St for bal 10.46 . St for or 6.87 . State str 48.45 48.90 Steadman funds am ind 2.47 . Asso cd 1.03 . Invest 1.34 . Ocean 5.97 . Stein Roe funds Balanc 18.13 . Capital 11.00 . Stock 12.86 . Strat Goth 19.13 . Survey f 10.26 11.21 tax Man 20.54 22.45 tempi g 17.02 18.60 temp in 12.96 14.16 temp in 1.00 . Tran Cap 7.77 8.45 Tran inv 9.43 10.23 travel Seq 11.79 12.89 Tudor h 19.78 . 20th cd z z 20th cd z z in Ltd a 4.03 . Unified 8.59 . Union service bids in 11.37 12.26 Natl inv 6.97 7.53 in capt 14.50 15.63 Union in 12.07 13.01 United funds a cum 6.76 7.39 and cd 7.06 7.72 cont go 9.51 10.39 cont inc 9.59 10.48 income 9.75 10.66 Mun by 9.42 9.81 science 6.74 7.37 Vang 6.61 7.22 Ltd Svca 2.33 . Usaa Ca 8.46 . Usaa in 11.07 . Value line funds Val lne 9.64 9.89 Val inc 5.94 6.09 lev Goth 18.48 18.95 Val pc 6.38 6.54 Vance Sanders income 13.18 14.40 invest 7.37 8.05 is com 6.93 7.57 specs 12.78 13.97 Vanguard group explore 29.79 . 1st Index 14.08 . Vest x9.19 . Morgn 14.54 . Trust 10.56 . War she 14.86 . War int 14.15 . War in 13.70 . Welly 12.11 . Wellton 9.41 . A Stan 9.30 . We my 9.99 . Winds 11.46 . Varied 1 z z Walls f 6.69 7.31 Weing Seq 18.13 . Wise inc 4.89 . Wood Struther win Deg m 32.27 . Neuwir 9.58 . Pine of 10.48 . No no Load. A a dividend. A unavailable. On All . Exchanges and Over the counter totalled 183,261,060 shares compared with 216,883,688 the previous week. Ramada inns was the most Active nose listed Issue falling 2% to 137/8. Holi Day inns was third off 4% to 25%. Among the other nose gambling issues Caesar s world dropped 16 Viz to 46%, Bally manufacturing 12 to 507/8, Del e. Webb 7% to 27% and Hilton hotels 67/a to 52�/8. On the amex Allied artists rumoured to have gambling interests was the most Active Issue falling 11a to 6. Resorts inter National a when issued Stock was second off 13% to 47%. The a Stock was third plunging 41% to 138v4. Resorts b Stock plunged 40 to 235 and the b when issued shedllv2to79v2. Among the other amex gaming and re lated issues Sortek skidded 6% to 15v8, Golden Nugget 5v4 to 26% and showboat inc. 5 to 26%. Pan american world airways was the second most Active nose listed Issue easing la to 8%. National airlines which has signed an agreement to merge with pan am dropped 1% to 32% trading sex dividend. Government agencies Are study ing the proposed merger. Mckee corp. Gained 9% to 31% after the company agreed to be acquired by Davy International a British firm for $33 a share. General dynamics dropped 3% to 83v2 after the firm reported a $156 million second Quarter loss. Boeing surrendered 4v4 to 64v4 in Active trading described As profit taking. On the amex the Market value Index plunged 6.78 to 167.28, one of the worst losses in its five year history. Declines routed advances 742 to 176, among the 1, 060 issues traded. Volume totalled 26,424, 810 shares compared with 37,939,820 the previous week and 10,136,360 during the same week a year ago. Riley co. Skidded 6% to 42 after the company revealed it expects to report higher earnings but Flat sales in the next fiscal year. Investors1 guide re wit Ham a Nevi w 0by Willia a. Doyle q. You advise people to subscribe to the automatic dividend reinvestment plan Many companies make available to their stockholders. You seem to Overlook the considerable bookkeeping involved. If a person reinvest dividends four times a year for 20 years he will have 80 bookkeeping entries. Would t it be More practical to save up and buy say 20 shares at a time even after paying a Small commission.? a. Not in my Book. One of the beauties of a dividend reinvestment plan is that it is done automatically. The investor gets a confirmation slip after each transaction. That slip should be saved for record keep ing purposes As should All confirmation slips. No big thing. What Small commissions have you checked brokerage fees lately Especial Stock pulse by United press International copyright 1978 Friday sept. 22,1978 nose composite most actives by volume Stock ramada Fencott pan am Caesars Bally of As Landol amt to wan la in elec Boeing air we vol close earns p 789,400 13 a $0.33 383,800 27% 336,100 321,100 320,600 301,500 266,700 8% 46v save 44% 60% 1.84 1.28 2.26 5.00 7.59 257,300 27% 247,100 52 a 231,600 64 /4 5.13 5.13 eyed 42.0 0.4 2.2 5.0 36.0 22.0 0.2 9.0 4.5 8.0 7.6 11.0 4.4 10.0 5.0 13.0 1.9 nose composite largest net changes Stock i b m Dupont Coldwe Alap of a Tairyn pm pug Mitao hold a the Mew pack Earl close Cage earns be old 1.16 280 125 /4 34% 84 32% 37 22 % 38 /4 4 $11.78 15.0 4.1 3/� 341/4 2vi amex composite most actives by volume Stock vol close earns be old i Strum sys 369,900 1% $0.04 42.0 resorts i Allied Artis resort  a Sundance Sortek in Hart amt syntax Rescott in sign 220,700 47 a 193,100 6 136,400 138 /4 119,800 20 /4 100,400 51,900 72,500 61,600 60,300 33v. 21% 15% 3.20 43.0 0.73 28.0 0.63 24.0 1.31 9.0 2.90 11.0 2.07 10.0 1.79 9.0 0.3 3.6 2.1 0.7 2.6 amex composite largest net changes Stock close Cage earns be  b resort so we veer owns resort  a Devon grup blown ten Senence Houston Riley comp Cornelus 235 u9 a 4 34 2 138 /4 2 29 i 2 24w2 2 20 /4 w 2 23% 2 42 a 31% 1% i i $3.20 73.0 3.36 10.0 3.20 43.0 7.87 4.0 3.38 7.0 0.73 28.0 2.46 10.0 5.28 8.0 1.88 17.0 1.2 2.0 3.4 2,1 be Price to earnings ratio old dividend yield def deficit St yield in Stock earnings latest 12months, unaudited by on Small purchases on a percentage basis they re huge. Q. I am a High school student and have saved Money through Par time work. I will need the Money which is now in a savings account when i enter College in a year or so. Because of inflation i feel my Money should be put to better use. I have talked to a few brokers and they suggest i put $2,000 in a Mutual fund and keep $1,000 in the savings account As a re serve for first year College costs. I expect to add to these sums As time goes on. Is this the right course for me or would my Money be better utilized in some other form of investment a. I can t Tell you if you would do better following the broker s suggestion or doing something else Over a Short period such As a year or  nor can anyone else Tell you with any degree of Assurance. And that includes those brokers. If the Stock Market goes up Between now and the time you enter College the Mutual fund could be a Wise Choice. But if the Market goes Down you would be a loser. Even if the Market stays level you would be out Money after paying the commis Sion on the Mutual fund you mentioned in your letter. It All comes Down to this. Because that Money will be needed to meet College expenses you should t take any risk with it. You seem to be in the fortunate position of being forced to leave your Money at the mercy of inflation. A year or so is far too Short a Span on which to take chances. Q. I own shares of four Mutual funds. I wonder if it would be a Good idea to sell them and put the Money into 7 /2 percent savings certificates. The Stock Market is jumping so much do you think these Are Safe investments i am a widow 83, and Don t need the Money. A. The Normal advice for a widow 83, would be to keep Only one of those funds the income fund which provides a High dividend yield and to unload the other three. The Standard recommendation would be to put All your assets in High yielding situations. But you make a Point loud and Clear that you Don t need the Money. So i Sug Gest you leave things As they Are. The three funds a person your age normally would have redeemed Long ago have not done badly in the past. If they do reason ably Well in the future your fund invest ments would increase your total wealth. Or. Doyle welcomes written questions but he will be Able to provide answers Only through the column. For information on corporate and tax exempt Bonds please include a self addressed stamped Enve Lope. No foreign Stamps please. Address your requests to William a. Doyle care of the stars and stripes Apo 09175. C King features