European Stars And Stripes (Newspaper) - November 13, 1988, Darmstadt, Hesse Page 20 the stars and stripes sunday november 13,1988 investor s guide business news by Bill Doyle q. A Man in uie Gnyp with which i have Coffee every mornings always bragging about his smart in recently he mid he bought � St in Only certificate of depos it Brough a lock broker be pm an claimed the cd has an 8.39 percent merest rate Doyle compounded Dally to provide an 8,75 percent annual effective yield. When i asked him what Bank or Satin a and inn association issued he cd and when the cd was is sued he named a new York Bank and said it so happens 1 obtained a cd directly from that Bank the very game Day at 9 percent interest compounded daily for an 8j1 per cent annual effective yield. Can you provide chapter and verse so i can let the other Mem Bers of on Coffee klatch know that blowhard is talking through has hat about that cd and probably his other investments a nope there s a Strong possibility he s telling the truth. These Days some Banks and Sli pay higher interest on cd told through brokerage arms than on cd the same institutions Issue directly either to walk in customers Orby mail. Many brokerage firm conduct Deposit brokerage business. They scour the country usually by computer 10 learn which Banks and a is Are paying the highest interest rates on cd and Money Market Deposit accounts. The Bro Kerages then Send their customers Money to those institutions. M because brokerage firms Deal i big numbers they often can negotiate higher interest rates. K stands to reason for a Bank of so to pay higher interest on millions of Dol Lars of cd business brought to it by a brokerage than it will pay on an individual cd q. 1 got out of the Stock Market after the crash on oct 19,1987. My broker talked me on of taking my Money out of the account i have with him and persuaded me to invest incas he had purchased for me. So far. So Bood. The interest on my cd has been High and i have no complaints with this , every do one of my cd is hearing maturity the broker is on the phone urging me to invest in Slock Deal or something else in t this a disadvantage of buy ing cd through a broker. It can be. With that arrange ment the broker knows How much you have in cd and when that Money will be available. But As suming you want to stay with the safety of cd at federally insured Banks and a is All you should have to do is make that Clear to your broker. really can t blame the Bro Ker. He earns Money when he buys or sell things for you. He probably picks up a Small service fee when one of your cd matures and is renewed. But that s Small potatoes compared to the commission he would get if you put the Money into stocks or various other things. If the broker persists in Phon ing give him that old line Don t Call me i la Callou if that does t work move your Money elsewhere As each of the 1 cd comes due. Market takes dramatic plunge despite optimism Over Bush win new York Dpi the Stock Market retreated sharply last week Ami concerns Over the Dollar s weakness and the future of the Economy despite Wall Street s Relief that George Bush won the presidential Dow Jones Industrial average which plunged 47.66 Friday dosed the week at 2067,03. For the week he Blue Chip Index Tost 78.77 Points. Analysts said any Hopes for a Victory Celebration for president elect Bush were displaced by concerns Over the Pace or economic growth and the Outlook for in Terest Dollar s weakness and fear of higher interest rates put a Cloud Over the Market All week said Don r. Hays director of investment etral Cey at wheat first securities in Richmond a. The Dollar s steady erosion last week accelerated Friday As the weakened currency plunged Toa 1 a month Low against the Jap anese yen and lost substantial ground against All other major foreign new York trading the Dollar Sank to 122.90 against the japanese yen Down from 124, and the lowest Rale since Jan. 4, when it closed at 122,65,Hays said concern about interest rates was tied to the government s two most recent economic reports which had conflicting implications. The labor department thursday said wholesale producer prices remained steady from september to october Indi fund prices eating thai the Economy May be slowing and inflationary pressure Cooling off. The government earlier said the octo Ber jobless rate fell to 3.3 percent and non farm payrolls Rose by 323,000. Sug Gesting that inflation and a Bike in inter est rates will slow things Down. I think the producer Price Index re port left the Federal Reserve Board convinced that inflation is under control ways said. The fed will probably hang Tough through Christmas however to keep consumer spending Down he added forecasting a slight raise in the prime rate sometime next Barth director of technical strategy at Butcher and Singer inc., noted that the Market is entering its third intermediate decline since the oct. 19,1987jcra5h. The last two occurred Back in april and in late july and both took the mar Ket Down about 200 Points Barthel said. In the next few weeks the possibilities Are that we could get into the 1900 to 2000 level Broad Market indicators also los ground during the week. The new York Stock Exchange composite Index fell 4.46, to. Is 1.24. Standard and poor s500-Stock Index dropped 8.39, to close the week at 267,92. Declines led advances 1,456-428 among the 2,143 issues traded big Board volume totalled 693,122,780 from Page 19 a nl87 to. Will turn mull Tuohi it dub Ull a Wool me im1inr Jii i7js u96 j2 13w lot i 1ij3 11.9724.112612 .4 194 939-, t 11 de 1 if .19 9� g9-.i2. I no 03 u54 1js9 01 1 31 no to cloth ugh too mid a Vij Mali l.fbo\,Iai Fig 31403140 04 go sep 13.79 1441 01 Gap 13.19 24 is Cav Pom 311 a tent Lara m or tit 71 143 of up 1610 l 6ftop. 110 40 is we Taj a 0 hos we sep fill 7.10 Jii la. Edi hati4jt-.44 91 1031tl301j4 j24jsimsj-Jb 1144 124 -. .1 1431 . 1441 no use a Johw it a he Ufi id no 01 1 99 no lion m Jii Merji 01 10 a he log m at ton m Jet no. 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Tit Ltd. 1.34 193.11. I Tii. Bijj pts i 101 10 a ,10. To ioj4 Jtj .01 us t 4u.sii"sir?5 w a Cut. Uii Hijii shares compared with 752,736,003 the week before and 874,295,982 the same week a year Ato. On the nose trading floor last week Union Carbide was the most Active Issue Oit 14, to 2j�i amid restructuring and takeover rumours. Houston industries of. Rwjr Nabisco was third up 3 it to 89 m. Kohlberg Kravis Roberts and co., the new York investment firm said Fri Day it has accepted the ground rules set by Rwjr Nabisco inc Board in the $21 billion auction for the tobacco and Foo giant. The guidelines issued nov. 7, rep resented an Effort by a special committee of Independent Rwjr Nabisco directors to take control of the Sale of the company. At to was off a to 28 k. Ism was olt 3 a to close the week at 1 16 the other Active Blue chips. Scan Roebuck Wai off 3%, to 40% amid news that retail sales for christinas 1988 Are expected to be Flat general electric was up i to. To 44 a Exxon was olt 1%, to 42% and general motors was oit2w, to 80%. On the american Stock Exchange the amex Market value Index fell 6.04, to close at 291.48, while the National association of securities dealers Index lost 4,64, to end at 373,76.declines topped advances 614-235, among 1,038 issues traded on the totalled 39,083,635 Sham. Wang labs class b led the amex a lives Down a t hj1 Odd .7t Giwa Fik Toca 11.12 Hsnk to.11 so 1140 Ilia 1279liia 11.ra Irti 10j7 cml 19 Fri Ion Xiv 10.90hi 9.05 met i4jo Lawf to Tarn 64 fluid. Is com 1494 0 � 7.tl Gas 4bs i me 01 m. � no m i .14 no 77 no 01 no .01. Fil us no Jii f l Al no 09. Us. M.-.1i .701 .11 1633 ,13 in .01s07my fut. Sceno. 12jb 1314 .01 45 sos-.01 ibwf14s-4i 7.01 7k-. Jyh 4h us. 491 s37 03 519 so Jyh 911 nil a _ i .17 Jug ihl4o4tlx get is 41 nl.19. Emu h a Jii gush 3 0.05 Gartl. 49 to Tjo nl.10 t�c4f us i j9 Malbi 170 no. Patti Jon of tit jul no 06 us if not no Jii Ostmo t7 m Vig. 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