European Stars And Stripes (Newspaper) - March 6, 1988, Darmstadt, Hesse Page so the stars and stripes sunday March 6.1989 invest Cir a guide business news by Bill Doyle q. A Lunnun a lulled Friend Home to bid an replacement win Don. After coming up with very High Price he Ott cred la Nunge 7 percent financing far her. When it ufred How much the financing would ant he called Mil it Book of tables ind began looking Chr Birgh int. So ult i him Why he chimed to be offering a 7 percent inn but looking at the i2w percent interest ult. So help me he to Well. If you Barrow the Nair a you la Hilll be Retting 5 a percent inter till keeping your Money in is rings account. Subtracting that amount from the Xvi percent Fawn the 7 pen enl you la Mcnully be need sch to say the took her business Al where. What is your reaction to this attempted rip Oil a. It Cadi like a scene from tin men the hilarious yet some time sad movie about crooked Alu Minum Sid ing salesmen. Could be Hal some replace ment window paddlers Are taking Over where Hus Doyle Iling tin men left off. The Cuneo Luud theory Hal the \2 h percent loan would Cost your Friend Only 7 percent because she would continue to receive 5vi percent on her savings account is baffle gab. The True Cost of Hal loan would be at least 12 it percent. It might be higher depending on How the loan is structured. Q. I heard on the radio that a person 65 or older can close out a certificate of Deposit before maturity without Payia an Early withdrawal penalty. The commentator said the recently pissed Federal Law allow hug his in being kept � closely guarded Mere by Banks. At my Bank i was Laid 1 will lose three months interest if i redeem � cd Early regardless of my age. No one Al the Bank heard of the Law mentioned on the nolo. Wai hat commentator to error a. Pc was. Unless you Misun it blood what he said. T suspect that commentator mentioned the depository institutions deregulation and monetary control act. Passed Back in i960 but phased in Over a six year Span. The firm provision of thai Law said thai Banks and savings and loan association were no longer required to charge Early withdrawal penalties on cd issued after March 31 986. There were Feder ally mandated Early withdrawal penalties on cd issued up to thai Dale. Even though Federal Rogu Ollion no longer require Banks and Sils to Lay on such penalties they Are not prohibited from charging them. Each Bank and Sal u free to set whatever Penally it chooses except in Case of death. Federal Regua Lions Flat out prohibit an Early withdrawal penalty when a cd is redeemed before maturity after an own or co owner Dies. Una a uly Wiwi two you in him id him in pm of the . Foetal Dow surpasses 2050 Barrier new York. Up the Slock mar Ket advanced last week breaching a key psychological Barrier and then largely consolidating the gains despite worrisome eco nomic news late in the week. Despite a 5.6point slip Friday the Dow join Industrial average stayed above 2050, ending the week at 2057.86. For the week the Index added 34.61 Points Mark ing its fourth consecutive weekly gain monday s 48,41-Poim Advance swept the Blue Chip Index to its highest closing since the session immediately prior to the record sos Point drop on oct. 19. The Market spent the rest of the week consolidating monday s gain. A 1.16-Poinl slip tuesday was followed by a gain of be than a Point on wednesday a 7.8-Poialdrop thursday and Friday Small loss. Analysts pointed out however that Treadvance decline ratio remained favourable and broader Market indexes and smaller capitalization Issue largely continued to gain for the rest of the week. The rally Over the last four weeks has been based on investors Confidence thai the nation s economic growth Rale we moderating acceptably while the Prospect of imminent recession had dimmed. That Confidence was shaken by the re lease before the Market opened Friday of government data showing lower than it Pec cd unemployment rates for february. That news put downward pressure on Bond prices which react negatively to Good news about the Economy and the Early and sustained decline in thai Market carried Over into stocks. Broad Market indicators posted gains Onishe week. The new York Stock Exchange composite Index Rose 2,73 to 150.43. Stan Dard & poor s 500-Stock Index gained 4.84 Locos Chc week al267.30. Advancing issues lopped declines i.2rs s93 among the 2,160 issues Board volume totalled 1.040,324,130shares, compared Wilh 95sj27.200 the previous week and 891,304,1 to a year ago. On the trading floor Public service in be Roriie group Parent of Public service electric & Gas of Newark nj., was the Moil Active Issue on the week up i to 24 i. The Slock pays an annual dividend of about 8 percent and went sex dividend on tuesday. Verily was second Mosi a Iive up it 10 3to Nutof Cideila Petroleum which pays. A 9.4 percent dividend was third. Among Blue chips at to was unchanged at 29, ism gained i a to 116%, general electric gained v to 44 Kodak Sudol a to 43 and american express Rose 1 % 1o 21 i. Federated stores gained 2v to 67 a. Campeau s $68-a-Sharc bid for Federated thought to be nearly completed was de railed by a competing Cash and Stock offer from . Macy. Koppers lumped l3vi to 53 a. An in vestment group including Sherawn leh Man Hulton inc. And do air pc thurs Day launched a s45-a-Shsrc Lender offer for Koppers common Stock. . Sievens gained 6w to 56 k. West Point Pupp Cryll tuesday offered ss6 Ashare to acquire the textile giant while a management led group raised its offer to $55 n share. Prices made Strong gains on the Ameri can Slock Exchange. The amex Market value Index added 9.42 to close at 293.74 in High for in week while the National association of securities dealers Index gained 9.97 to 373.37. Advances outnumbered declines 531 299 among 1.014 issues traded on thealex. Volume totalled 57,534,640, shares compared Wilh 50,552,04 traded a week earlier. Brazil strikes tentative Deal on debt Rio de Janeiro. Brazil us Brazil said Friday it has reached Tenta Tive agreement with in Emalina Banks for the biggest Ever refinancing Deal in the history of foreign debt stretching out the payment of 167.6 billion in Loans Over 20 years with an eight year Grace period. The agreement which covers principal due Between 1986 and 1993, was reached thursday night by Central Bank president Fernando Milliet who re turned to Brasilia Friday after meeting in new York with the steering committee that represents Brazil s More than 700 creditors. Finance ministry spokesman Ger Aldo Moura said the Mulley car refinancing plan which Brazil has been seeking Tor several years was an important step in the country s efforts to spread Oul payments in a manageable fashion. Fund prices. From Page 19 the payments will be made progressively with 2 percent of the total value paid the first year 1996 and 20 percent of the total due the last year 2016 Moura said. Up to now the biggest single refinancing agreement was made by Mexico year ago rescheduling 153 billion in Public and private debt Over 20 Yean with a live year Grace period. The government also said it paid 1520 million in interest thursday to creditors and would pay an additional j200 Mil lion within two weeks to bring 1988 in Terest payments up to Dale through Jan uary and february. Brazil agreed to keep current on 1988interest while negotiating the multiyear repayment plan. Officials announced last sunday Ahjit creditors had agreed to lend j5.b billion 10 refinance past due and fall ing due interest and agreed to increase Brazil s Short term credit line by j600 million. Thai refinancing package was negotiated with an interest spread of 0.8125 percent Over Libor the London inter Bank offered Rale which is the rate that the most creditworthy International Banks dealing in eurodollars charge each other for Large Loans. Libor is used As abase rate for Many foreign debt agreements. Brazil the developing world s largest debtor owes about si20 billion to Pri vate Banks governments and in Lima Lional lending agencies. The country stopped repaying Aboul s70 billion to private creditors a year ago when falling exports reduced foreign reserves. Exports have improved since then Bat finance minister mail son Nobrega said the moratorium will not end officially until the debt refinancing package finally is approved by creditors probably in june. To tort 3 its ii s4 1 1 04 7bi h70 017 to in 0? 741 104 res in 01 1073 1141 04 10 9 ton in sit 9h 02 1113 til him 12si 01 in vol 139 no. Do 3h i 13 us thl cog 7311 11 tt3 i ttnt7n sibt7 in of 17 my h Iii m 111413 Ril .03 1535 m. U3 9111 m a 1110 n 07 1311 7031 05 Kotb kvb01 he a fat Usu sol Attef Klaavu lj1g, kill Utonn Twa 9114 u. Us u 09 97.71 i �9t71 u h 90 g91, 05 i 25 in ii m Hal so Rigour Sib in Bill 111119 1111 h ii in 94 Elk 1101 it w lit u c21103 1171 01 17 � 1715 Mion m oin in 07 dam 7u 1� 09 float 113 Igel Lill 1925 iot1- Uii i. In so his Chi 1317 a .01 a i 7m my a lug in Rudi 9k m 03 if 47 Iii 1771 a Hajj 07 1044 u Fol it 117 m r flout 01 1093 u. 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