European Stars And Stripes (Newspaper) - December 28, 1986, Darmstadt, Hesse Page 20 the stars and stripes sunday december 28,1986 investor s guide by will am Doyle a my certificate of de posit will terminate soon and i no d adv let Aboul investing hat Money. I am considering Clunk Maes but need More information about hem. Are hey Rule a. Ginnie Mae is the nickname for govern ment nation Al mortgage association modified pass through Security. It Sno wonder a Short . Each Gin Nic Mac Security i backed by a Pool of Federal housing administration veterans administration or Farmers Home loan administration mortgages. As Homeowner make their mortgage payments that Money is passed through 10 finnic Mac investors monthly. Timely payment of interest and principal is guaranteed by the full Faith and credit of the . Govern ment when you own a Ginni Mac and a Homeowner defaults on a mortgage in the Pool behind your certificate you still get your pay ments finnic Mac certificates arc is sued in denominations of $25,000 and up. If you buy a new Ginni Mac and hold it until All the Mort gages in its Pool arc paid off you will receive the certificate s face amount the Money you in vested. Meanwhile you will receive interest. However if you sell your Gin Nic Mac before All the mortgages arc paid off you might get More or less than your share of the Mort gages unpaid balance. Finnic macs can be bought and sold through brokerage firms just As other securities arc traded. Their Market values usually go inthe opposite direction of interest Rales up when interest rates fall and Down when interest rates Rise. But because Many homeowners have been paying off High interest mortgages lately the Market values of Cinnie macs have not risen in line with other fixed income securities. Q. How does a person acquire a Cinnie my without using � Bro Ker thereby saving on charges a. Unless you re thinking about a tremendously Large number or you inherit it receive it As a gift or buy it from someone who already owns it you can t acquire a finnic Mae pass through Security without going through a broker. The government National mortgage association docs not Issue Ginnie macs. A Lender puts at least $1 million of mortgages into a Pool and brokers sell Securi ties backed by that Pool. Technically if you have $1 Mil lion you can do that yourself. But t doubt you re thinking that , the paperwork would overwhelm you. Of course you can invest mod est amounts in a Mutual fund or unit investment Trust holding Many Ginnie Mae securities. A fair number of no Load Ginnie Mae Mutual funds sell their shares directly to the Public. Go that route and you la avoid brokers and commission charges. However like All Mutual funds those fun shave operating expenses which re Duce shareholders returns. William a Doyla wll imn a can Prowda i Swarb Only thu ought a cd him. La King failure financial news most Stock prices slip lower in 4 lacklustre trading sessions by Ellen fre1lichlh i business writer new York most Stock prices re treated last week in four sessions of Trad ing dominated by tax Law Selling and other end of the Quarter portfolio adjust year s quietest new York Stock Exchange session concluded the week trading As Many investors stretched the thursday Christmas Holiday into a four Day Chip issues fared a Little better than the Market As a whole. The Dow Jones Industrial average edged up 1,55 Points to 1930.40.analysts said year end tax Law Selling pressured prices. Long term capital gains lose their preferential treatment under the new tax Market retreated monday and tuesday and advanced slightly wednes Day and Only popular group of stocks were makers of pharmaceuticals. Publicity about Merck s new anti cholesterol drug which some analysts said they believe will be available in 1987, stimulated investors interest in the group and in Merck the trading floor at to was the most Active nose listed Issue rising v to 25 a. It fell i to Points a week earlier when it said it plans to Lay off about 27,400 employees As part Ofa corporate Edison followed fall ing i to 34. Avistar was third unchanged at 4%. Among other Blue chips american express cased w to Tsvi us slipped Vuk to 21k. Ism fell 3 i to 122, general motors Rose i to 6714 and Union car bide Rose v4 to 22w.Merck jumped 12 i to 129 amid favourable publicity Aboul its new drug. The Sharp Rise stimulated interest in other makers of pharmaceuticals. Squibb jumped 4w to 1isv and Bristol Myers climbed j i to 85,after open reached an agreement to curb Oil production to raise prices to $18 a barrel stocks of Oil companies firmed. Exxon Rose a to Ivy after jumping 1ftthe week before. Phillips a to 11 a and Texaco added it to 35 a scars slipped to to 40ft, k Mart fell 2% to 44 and Federated department stores fell 3 i to is a amid persistent concern Aboul disappointing Christmas season International technology fell 6w to l6 /4. A week ago Friday the company said earnings for its fiscal third Quarter will be below the 16 cents a share earned in the year earlier fell 4 a to 54v. It said late tues Day that it would buy the Hilton International hotel group from Tran world for �980 million in Cash and securities. Lucky stores fell 3ft to 27. The com Pany said it had accepted 14.4 million shares in its buyback offer part of a re structuring designed to deter an unfriendly takeover bid by investor Asher Edelman. Stock pulse Slack Law Schied corny de Nyne a is Iowa Atit of Oder Cunley of Mimi my Nasur by United Praia inlay Frt Taf. Pat m. 1996 gybe comp Oill Moll be t 332 11.0 05 495 7.0 99 5.93 11 0 6 3.15 11.0 6.44.7 2.96 14.0 3.b 3.01 80 11.1 2.08 20.0 0 0 455 280 1.7 close 3.971.300 35 2.251.300 34 t.571.100 97 697,609 �5, 607 pm 41 k 629.300 23 021.500 4 it 469.701 120 4s8.400 4k gybe compel ural i Clung Svast Cloch of Earni be fid Miv Cli 129 Fitt � 4.55 290 1.t Chi 133 a 2h 10 91 13 0 Tooh Hia � a 2i Iek 94 4 2 ,. Plur 6211 t Bliley 95 1ssi is of Squibb Hal 1m s1gardscl 14 i m Slock Oil Wick i Bat Bonald Al a a 3 Terai air inn glib Kuolt tie comm Ellenn a Max cum poll. Mocilac Tuvai by Dun Mclosa Eama be old 173.soo 3% s 0.71 so 139400 6 13.16 0.79 9,0 20 so 0-09 940 94.900 23 to 063 370 94.100 19v. 0,20 99 0 82.300 34 i 045 so 77.900 Ivi 0-09 1350 1.1. 76.100 73.000 3�. S56 92.400 14v, 0.41 340 am a Cora Potell Largman a Chin gel Sci 1m " of be T 2.94 100 681 14.0 370 170 4.is 20.0 4 02 24 0 1 39 10.0 Cablk 13 a Marc sap i3w Ohio Art 43 no he 20 lordly so 16 to s i a Potro Linb 42v i saw m s int Seaway a i t. Pm re lab fld mud and Traat Aik him in Inek earning rala112 month Unk Udstad. 2h 0.90 20.0 in in 2.20 20.0 00 is 1.20 17,0 i.s1 i 0-70 10 657 240 0-7 0.05 99-0 3.03 110 40 089 110 Overall losers outpaced gainers 1,233 676 among 2,199 issues traded on the new York Exchange. The Dow Utility Index fell 2.59 to209.47. The Dow transportation average Slid 16.23 to 819.65. Standard & poor s 500-Slock Index fell 2.81 to 246.92 the nose composite Index dropped 1.51 to 141,14. Big Board volume located 490.987,697 shares compared with 853,819,002 a week earlier and 329,828,820 during the same week a year ago. Composite volume totalled 607,776, 927 shares compared with 1,007,605, 412 a week earlier. Prices were lower in moderate trading on the american Stock Exchange. The Ames Index fell 1.36 to 264,10. Losers outpaced gainers 415-297 among the 918 issues traded. Volume was45,861,060 shares compared with 64,103,920 last week and 33,502,735 during the same week a year ago. Wicks led amex actives unchanged at 3m. Wang laboratories class b Fol Lowed slipping a to 12 i. Falcon Cable vision was third unchanged at 19%. Counterfeit items prompt Disney suit los Angeles up the Wal Disney co. Has sued More than 90 retail ers for allegedly Selling counterfeit t shirts watches and other items bearing copyrighted Disney characters. The suit asks for a permanent injunction against further sales of counterfeit Disney products by 94 retailer. All the defendants Are Selling unauthorized products bearing the likenesses of Disney characters the suit said. Examples were Mickey and Minnie mouse Donald Duck goofy Pluto the three Little pigs and Cinderella. Peter f. Nolan a Disney vice presi Dent and corporate attorney snid the phony merchandise was found during a sweep of retailers by Disney investigators. He said Many other offending Mer chants agreed to voluntarily Hall sales and pay damages to Disney. Most of the merchants confronted Sel Lac out of court because they Don t have a Case or a defense he said. Disney based in Burbank calif.,earns Loo million yearly on 8,000 Dif Ferent products manufactured under 1,600 licenses the suit said. Fund prices from Page 22 sul firm de the Rio inns so Durnin fund ditch it my Bio Tbell or Tivit in finl 9 96 4 l i ii no 10? b3tnl 1711 in l 1tmhl it june 17t4n.l. 693 7h of so income a dog to Nimi Mun q a in Trot a Pond u5g. To feb. Id 14 11 1di4. Asia Ai 40 b9 r full m do 1291 13 i 10 91 11 t it neg f Viacom Mun o mini in Mutual in Laid f undo in con \2 by i1.12n l. 660 by 10 at h l is 14 n la 06 via 141 74 -667 670 z3un.l 12 ton to. B 30 n t. &36.t. 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