European Stars And Stripes (Newspaper) - September 4, 1988, Darmstadt, Hesse Pegs 20 the stars and stripes sunday september 4,1968 investor s guide by Bill Doyle q. I arranged for the redemption of an $84,000 certificate of Deposit two months Iro. The Bank where i had the cd issued cashier s Check on Chr maturity Dale but did no mail it until seven Days later. Surely a Bank cannot be allowed to operate in such an unethical Man 1 wrote a letter of complain la the Federal Deposit insurance corp. The Only res Doyle Ponse was a letter i received about three weeks ago saying my Chimp tilt had been referred to the Odic s regional office in t there a government Agency that oversees Banks to prevent such practices a. Banks Are regulated by Feder Al and or stale government Agen cies. But no regulatory Agency looks Over any Bank s shoulder so closely As id make sure checks Are mailed an Lime. Regulatory agencies take action after receiving complaints such As yours. Give the Udics regional office Lime to investigate your Gripe. The wheels of bureaucracy turn slowly. You can also com Plain to any other regulatory Agency having jurisdiction Over that Bank. If ii has National in its name or the in liars after its name it s a federally chartered Bank. In that ease write to the of fice of consumer affairs comp troller of the currency. 490 l in fall Plaza Washington . 20219. If it s a state chartered Bank Contact your stale banking depart ment and the division of Onsum or affairs Board of governors of he Federal Reserve system Washington . 20551. Anyone with a Gripe about a savings and loan association should write the office of Community investment Federal Home loan Bank Board 1700 g Street,n.w., Washington . 20552. If it s a state chartered so also Contact the regulatory authority in your state. Q. My wife died when our daughter was 5 months old. Since then monthly social Security Bene fits have been deposited directly for my daughter at savings and loan association. This amounts to $15,000. The people at the so a a that after �15,000 has been accumulated the highest rate of interest is 6,8 percent. Do you hire any suggestion As to where Ray Little Daugh Ter s investment can do better a there Are lots of places. As suming the Money will be invested for Rock solid safely As it certainly should be the choices boil Down to either Banks or a is with Federal Deposit insurance or . Treasury securities. Some a is and Banks arc paying interest of 8 percent and even a Bil higher on certificates of Deposit with five year maturities. My suggestion is to shop around for the Best rate and tuck the Money away for five years. To Eiilwn Kyj Umit ooh l4rttra. You can write to him i Carlol Tow Stan ind Stripe i. To Bill. Us Forert business 1 St last trading Days of week gave stocks healthy Advance Vork up the Stock mar Ket staged a Good Advance last week an broke Tor the labor Day weekend encouraged by economic that appeared to reduce the prospects for the Market s no. 1 concern higher interest rates. The Dow Jones Industrial average soared 52,28 Friday to close the pc Hoti Day week at 2054.59. For the week the Blue Chip Index Rose 37.16, or 1.8 per cent. Before the surge Friday the Market s performance was mixed. The Dow jumped 24 Points monday reflecting an improved Bond Market and some bargain Hunting. There was Little movement tuesday and wednesday As the Market slipped Back in sluggish Trad ing. On thursday the Dow fell 29.34. Analysis said the pullback was triggered by similar declines in overseas markets and nervousness ahead of the August unemployment report which was released Fri Day before the Market opened. The Market nervousness quickly turned into a sigh of Relief. The labor department Friday said unemployment Rose 0.2 percentage Points to 5.6 percent in August. Market forecasts had expected Little change. In addition non farm payrolls Rose by Only 219,000 last month compared to a Rise of 200.000 in july. The july figure was revised Down from the initial Esti mate of 283,000. Analysts had expected an August increase of 225,000. Analysts said the unemployment data indicated that economic growth , and that should reduce the pressure on the Federal Reserve Board to push interest rates higher. The August non farm figure and the july revision downward both came a pleasant surprises to the Market said Hugh Johnson head of the investment policy committee at first Albany corp. There also was no evidence of up Ward pressure on wages which is encouraging on the inflation front Johnson said. The report was clearly Good .it relieved the pressure on the fed to turn the tightening screws another Johnson cautioned that the Market re action might be a bit overblown. It i really a trap to be looking at one set of figures Bui there is an enormous sense of Relief in the Bond and Stock markets Johnson said. The markets have been so bludgeoned by unexpectedly Strong economic numbers for he last nine months most observers were braced for another Tough number. We did t gel Over the head Johnson added this does set up somewhat More positive Frame of mind. How seriously can we Lake the move Well it s important to remember that not too Many people Are in Hij Market ahead of the three Day labor Day week end. Besides the Dow Broad Market indicators advanced on the week. The Newyork Stock Exchange composite Index Rose 2.42, to 149.66. Standard and poor s too Stock Index gained 4.80, Clos ing the week at 264.48. Advances led declines 1,147-685, among the 2,148 issues traded. Big Board volume totalled 642,314,700 shares compared with 586,528,880 the week before and 853,696,590 a year ago. On the nose trading floor last week could inc. Was the most Active Issue soaring 71/i to 22 to on that the company agreed to be acquired by nip Pon mining of Tokyo for 123.25 a share. Occidental Petroleum followed gain ing 1, to 26%. Public service Enterprise group was third Down w.i022v at to was unchanged Al 25. Ism Rose i 10 114. Food maker jumped 7, to ism a group formed by the investment firm of Gibbons Green Van Amerongen agree to Lake the company private for 119.125 a share. Primerina fell i a to 28%. Commer Cial credit agreed to acquire the company in a mock Swap. Among the other Active Blue chips american express was up it io29 i Exxon was up i to 46ft and general electric was up 1 it to 40%. 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