European Stars and Stripes (Newspaper) - September 15, 1985, Darmstadt, Hesse                                Sunday september 15, 1985 the stars and stripes Page 19 business news farm subsidies Hurt consumer study says $7 billion is added annually to grocery Bills Washington a farm subsidies for peanuts milk and sugar Are adding $7 billion to americans Groc Ery Bills each year and pushing the Cost of foods con Taining those products to 25 cents of every food Dollar a consumer group study shows. Farm Price supports add 60 cents to the Price of a five Pound bag of sugar is cents to a half gallon of ice Cream and 45 cents to a three Pound Jar of Peanut butter Ellen Haas director of Public voice or food and health policy said. American Consumers Are financing the sugar and pea nut commodity programs with their grocery Money and they Are getting absolutely no return Haas said in a statement. On top of that they Are paying for the Dairy program twice with grocery Money and again with tax , Dairy supports Cost Consumers $4 billion annually she said $2 billion in higher grocery prices and $2 billion in taxes. Sugar supports add s3 billion to the Cost of sugar containing foods and peanuts Cost at least s250 million More than they would without Price supports she said. Public voice announced the figures at a news Confer ence As the House and Senate agriculture committees put the final touches on new farm legislation to replace the Law that expires at the end of this month. Haas said the figures were put together from res. H by the agriculture  favor paying their fair share to maintain a healthy Well balanced farm Economy Haas said. But she added these three commodity programs take unfair advantage of us especially in the supermarket. That is our Bottom  she said several members of Congress will Attmer. To Amend the legislation to what her group considers a More pro consumer form when the farm Bills reach the full House and Senate later this  sponsor of an amendment to the sugar program sen. Bill Bradley d-n.j., said it was impossible to make the changes during the committee Bill drafting process because the committees arc dominated by special interests. Each of these proposals really goes at the heart of the log rolling essence 01 Federal farm  Bradley told a news  interests Are seeking renewal of a program that would pay Farmers not to produce milk and would key milk Price supports to the Cost of production. Haas said a straight Cut in Price supports would be More advantageous to grocery shoppers. Such an option she said will be offered by sen. Paula Hawkins a Fla. And in the House by reps. James Olin d-va., and Robert Michel a Iii. Both agriculture committees propose to continue cur rent sugar Price supports but Haas said cuts in the level will be sought by Bradley and sen. Slade Gorton r wash., and by reps. Thomas Downey d-n.y., and Willis Gradison a Ohio. For peanuts pending legislation would retain essentially the current system under which certain Farmers Are granted rights to grow a quota of peanuts at the higher Domestic support Price. Tennessee foursome cashes in with Saturn to shirts Spring Hill Tenn. A four workers at a children s Home have turned a lunchtime conversation into a profit by Selling Saturn has landed to shirts to Mark the coming of go " " " Plant. F general motors corp s $3.5 billion car after pm s announcement two Gross of the shirts we reprinted and More than 100 dozen were sold in five weeks said Tony Parnell a Tennessee children s Home social worker. Parnell 24, social workers Grace Stanton. 24, and Brian King 25, and administrative assistant Darrell Logan. 24, were sitting around wondering How to make some Money from Saturn when rumours first began surfacing that pm might select the Rural farming Community 30 Miles South of Nashville As Home for the giant Aulo Plant. Parnell said. The shirts show the planet Saturn hovering Over a Rural scene with a barn farm House and tractor and the words Saturn has landed in Spring Hill tcnn., 1985. Maury  the artwork was draw i by Brett key 17, whose parents Bill and Sarah Are House parcels for the 60 neglected residents at the Church of Christ sponsored children s Home. We thought it was a perfect concept Parnell said. We d have this huge Saturn taking Over a Small town with a lot of farms. That s what s going to happen  Stanton said what we re hoping is As soon As they get the groundbreaking finished for the Plant we can get these out to a lot of construction workers because they la Wear the hats and shirts and probably want to get some for their families. People from All Over arc buying these things now. We had one Man come Down from Detroit and buy $122 Worth of shirts to take Back to Lee Iacocca As a  investor s guide by William a. Doyle q. I Oira number of different corporate Bonds id of which ire bled on the new York Stock Ecna Woof those Bonds Bare not appeared in the new York Bond quotations of my newspaper i on find for nun than two weeks. To whom am i write to complain about the a. Nobody. But Don t feel frustrated. The most Likely reason those Bonds Haven t been included in new York Stock Exchange Bond listings is that they Haven t been traded on that Exchange recently. That s not  thousands of corporate Bonds Are listed Lor trading on the new York and other exchanges Many Trade on exchanges infrequently. Newspaper tables list specific corporate Bonds Only when those Bonds arc traded on exchanges. Most corporate Bond trading is done by big institutional investors who buy and sell those Bonds off Board in the Over the counter Market. A particular corporate Bond might be actively traded in the Over the counter Market and not be traded on an Exchange where " Tea. Rating sidelight to this. There s usuary one transaction on an Exchange in every Erate Bond around the end of every three month period. The enables Eutona investors to establish firm paces for quarterly portfolio valuation purposes. So keep looking at newspaper Bond tables. Price quotations of your bends will show up sooner or later unless those Bonds have matured or have been called for Early redemption. If you have the Bonds in bearer form you won t know about a redemption Call until you try to Cash an interest Coupon. Check the companies your broker Bank or Stan Dard & poor s corp s called Bond record which you la find in Many Public libraries for that information. Of course if your Bonds Are in registered form you lube notified about redemption Calls. Q. Bear with me for this example. 1 buy a 12 percent $1,000 face value corporate Bond. The Bond pays $60 interest twice a year. I buy it three months after the interest payment Date. I pay $1,030 a $1,000 Market Price plus $30 accrued interest. What is my basis How do i handle the interest on my income tax return a. Your basis is $1,000. If you sell that Bond the difference Between your $1,000 basis and the proceeds from the Sale will be your profit or loss which you report on the income tax return you file for the year of the Sale. Like most marketable Bonds those purchased and sold in the marketplace this one trades  that Means the buyer pays the seller the inter est that has accrued since the last interest payment Date $30, in this Case. You pay income tax on $30 of the $60 you receive As the next semiannual interest payment. Of course you and the internal Revenue service will receive a form 1099 showing you got the whole $60. You can Square that away when you report the inter est on schedule b of this  s form ,0. List the $60 interest Ria any other taxable interest you receive. Add it up. Below that amount list the $30you paid to the Bond s seller with the notation accrued  subtract that $30 from your taxable  tells you the amount of taxable interest you report on schedule b s line 3. Q. A $5,000 bearer Bond i owned was called for redemption. I found this out seven and a half months after the redemption Date when my Bank at which i had submitted the semiannual interest Coupon for Deposit was informed and resumed the Coupon to me. I got the Bond from my Safe Deposit Bank and asked my Bank to Send it in for redemption. More than two weeks after that my Bank called to say the Bond had been returned because the Coupon that had been setback unpaid was not included. I then took that Coupon to my Bank so that it could be sent in with the Bond for collection. I finally got my $5,000 eight and a half months after the Bond s redemption Date. Who had the use of my Money for All that Lime a. The Bank that acts As trustee for that Bond Issue. Ikino features column lil Dovle Welcome written . But re can provide Ani Weri Only through the column. You can write to him in care of the Start and so Ripe Apo 09211. . Torjei