European Stars And Stripes (Newspaper) - October 23, 1988, Darmstadt, Hesse Page 20 the stars and stripes sunday october 23.19b8 investor s guide by Bill Doyle q. The column in which you wrote thai series e is. Savings Bonds Slop drawing interest when they reach their extended maturity Dales was dead wrong. The woman i spoke to atthe Federal Reserve Bank said All bands issued during the 1940s and later Are continuing to accrue interest Doyle and will continue to do so until re deemed 1 what do yen say now a. Back on Jan. 10, 1979, a Michael Blum Plhal Ihen Secre tary of the Treasury decreed that no additional extended maturities would be Given to the oldest e Bonds those issued Between May 1941 and april 1952 and thai those Bonds would Slop accruing interest exactly 40 years after their Issue Dales. That pronouncement was immediately tabbed the Blum Plhal it pc owners of 40-year old e Bonds a Choice similar to the godfather s offer you can t they can redeem those Bonds or they can Exchange them for series he . Savings Bonds. If they redeem the Bonds they receive the Price they paid plus accrued interest and men they mus pay Federal income Ian on that in Terest in one shot unless the have been reporting that interest each year on their returns which mighty few people do. If they Exchange them for he Bonds which must be done within one year after the is extended maturity dates they postpone the Tan bile on the accrued e Bond in Terest until the has received in the Exchange Are redeemed or mature. Has pay interest by Check twice a year and that interest is subject to Federal income lax. Either Way owners of 40-year-old is arc hit with tax. Thai comes As a blow to Many folks who had expected to hang on to their is and Cash them after retirement when their income and tax rates arc lower. Q. A newspaper clipping i found says the new series be savings Bonds which go on Sale Jan. 1, 1980, will be called United states Energy savings 1 bought e Bonds before 1980 and hive purchased yes Ever since. Not one contains the word in Why a. Because no savings Bonds were Ever printed with that word on them. The aborted notion to name ebon is Energy Bonds came out of Jimmy Carter s much touted Energy War during the Middle East Oil crisis. An old press release i dug out of my desk s Bottom drawer says the Redt ignation of the Bonds As Energy savings Bonds is intended to help focus attention on the National goals of reducing Energy consumption and increasing Domestic supplies. The Energy savings Bonds will assist in financing the targe Federal Energy expenditure required in the coming but the Federal government did not earmark the Money from the Sale of savings Bonds for Energy savings purposes. And the so called Energy War sort of petered out and disappeared. Business news Market hits Post collapse High new York up Wall Street marked the first anniversary of its historic plunge without incident last week an two potentially record breaking takeover bids helped propel the Stock Market to a new recovery High. The Dow Jones Industrial average which Rose 2.31 Friday closed the week at 2183.50. For the week the Blue Chip Index was up 50.32 Points. The Dow s close Friday was the High est since last october s Market collapse. The biggest Day of the week was thursday when the Dow surged 43.92. After thursday s run most of Fri Day s session was spent defending the Gams said Sid Dorr vice president of lock trading at Robinson Humphrey co. In Atlanta. I think the Market did a credible for the week. Dorr said the Market be have a lot better than 1 expected. There was some nervousness about the anniversary and the options1 Dorr said the Market has been steadily extending the upper end of its trading rang and would probably approach 2200 in the current trend which he said was being fun eled by the rash of takeover activity. It s a relaxed Market right now said Trudy later nor Market analyst with pc so Phihal & co., in new York Latimer said a Large part of the previous session s 44-Point surge was related to Fri Day s expiration of october Stock Index futures. Some traders Are beginning to Nail some profits but there is no urgency Here Latimer said. Traders Are doing their own thing. They have time to make sound judgments. In Light of the Market s new recover High set thursday Latimer said a mod est correction is not thai far Broad Market indicators also advanced. The new York Stock Exchange composite Index Rose 3.96 to 1s9.42. Standard & poor s 500-Slock Index Rose 8.16 to close the week Al 283.66. Advances led declines 1,140498 among the 2,159 issues traded. Big Board volume totalled 853,142,590 shares compared with 735,226,780 the previous week and 2.29 billion a year ago. Kraft was the most Active Issue on the nose trading floor soaring 32% to 92. The company received a Surprise is 1.8 billion takeover bid from Philip Morris cos., which fell itt to 97 w on the week fur Nabisco was the second most Active jumping 21 to 76% after an equally surprising announcement about a Possi ble s17 billion management led buyout. On the american Stock Exchange the Macx Market value Index Rose 3.52 to close at 306.07, while the National association ouse Curilich dealers Index Rose 4.00 to end at 288.59. Advances topped declines426-386 among 1,030 issues traded on the Macx. Is a Cerf of French budget of d Paris us French prime min ister Michel Ricard s minority govern ment battling a wave of fierce Public sector strikes won approval in parliament saturday for a first stage of its 1989 budget legislation after the Power Ful communist party abstained. Ricard i socialists carried the ballot ing in the National Assembly France s lower House of parliament by 274 votes to 229. The votes cast against the Finan Cial legislation were by the Neo gaullist rally Tor the Republic party of former prime minister Jacques Chirac and for Mer president Valery Giscard d Estwing a Center right Union of French democracy federation. The 27 communist deputies in the As Sembly abstained saying they would re serve judgment until the final debate 01 re it on the budget. That decision together wit additional abstentions from the centrist Union of the democratic Center led by former prime minister Raymond Barre carried the Early morning Vole for to card after a tense All night debate. The communists and other marxists on thursday called a strike among Public sector employees that partially disrupted air train and metro services across the nation. But Ricard s government re fused to increase its offer of a 2 percent wage raise for state employees saying any More spending would prevent reduction of the Large Public sector deficit. Agitation in the Public sector started from Page 19 Toltl Phil ttm1 of Mil Hagik 1194 no. 14j3 not k 1313 ii w 01 i94 1993 .03 191921744 11,4411.9927,40 17.49 .09 is 9.s9t .03 i2u1.9i .02 9 by 10.141 Jyh 543 not ,04 1492 155 4 .01 1w9 no 41 13 13 a 01 Cantu Cphil Horn him Muffi Lute Nyutu Tefft i2j7whs Winn 106310 n 1012 hit 01 i m not e m. H not m m. I 01 no. 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