European Stars And Stripes (Newspaper) - January 8, 1989, Darmstadt, Hesse                                Page 20 the stars and stripes sunday january 8,1989 buying spree pushes Market upward Dow his highest closing level since crash new York up Stock Price posted a gain on the first week of the new year As institutions led a three Day buy ing spree that drove a key Market barometer up to its highest closing level since the Market crashed in 1987. The Dow Jones Industrial average which Rose 3.75 Friday closed the week at 2194.29, its highest closing level since the Market crashed oct. 19, 1987. For the week the Blue Chip Index gained25.72. Broader Market indicators also advanced. The new York Stock Exchange composite Index Rose 1.70 to 157.96,while Standard & poor s 500-Stock Index climbed 2.95 to close the week at 280.67. Advances trounced declines 1,290-565 investor s guide by Bill Doyle q. I bought 50 shares of a a company s preferred Stock about 21 years ago. Two years later the Stock was relisted from the new York Stock Exchange. I was told the Issue was too Small to keep list  is a 4 percent preferred Stock with a $100 Par value result ing in annual dividends of $4 per share. It scalable by the company at $105, but they offered Only $42.90 per  say the company should either list this Stockon the Exchange again so i can sell Doyle my shares or should redeem it atthe $105 Call Price. What can i do about this a. You have two choices Nei ther of which will please you. Y9u can keep that Stock an continue to collect dividends. A company must meet dividend requirements on its preferred Stock before paying dividends on it common Stock. Or you can sell your shares tothe company or any other buyer. Most stocks Are traded Over the counter after being relisted from exchanges. This is especially True for dividend paying stocks. A Bro Ker should be Able to get a Price quotation on that Stock. Here s the really bad news. It most unlikely you can sell that Stock for a Price higher than the company offered. A $4 dividend and a $42.90 Price results in a 9.3percent current yield. These Days Good Quality preferred stocks have higher current yields lower share Price per dividend . We purchased Stock in a Well known company four years ago an received two Stock dividends. No dividends either Cash or Stock have been paid for the past two years even though the company is doing very  earnings have risen substantially. It has a Marvelou package of salaries and other Bene fits for employees. The president salary is obscenely High. How do stockholders get company to declare dividends a. You probably can t. Unless owners of a Large percentage of the company s Stock convince corporate management to Start paying Cash dividends in the foreseeable , you should have Learned that before buying the Stock. Among the 2,129 issues traded. Big Board volume totalled 613,615,280 shares compared with 456,666,050 Las week and 933,730,250 a year ago. The Short week got off to a bad Star tuesday after the three Day new year Holiday weekend when weakness inthe Dollar and Bonds led to a rash of futures related program Selling by institutions. Stock Index futures sometimes Trade at narrow premiums to the Cash indexes leading to arbitrage that involves the Purchase of futures and the Sale of the underlying stocks. The Market s tone improved significantly wednesday when investors be came enthusiastic about the Dollar Sharp Rise upon the news that two libyan Mig-23s had been shot Down by  f-14 Jet fighters. The gain in the Dollar which stabilized the Bond Market ignited a buying spree led by institutions that continued through the week. Analysts said the stronger Dollar helped attract institutions and other equities buyers with Large Cash Reserve who were looking for a re entry Point in the Wake of year end tax Selling and port Folio adjusting. The Market was driven by arbitrage and buy programs said Alfred Gold Man Market strategist with . Edwards and sons in St. Louis. The sideline Money jumped in say ing maybe we re going to have that Jan uary effect after All " he said alluding to the Market s tendency to move higher at the Start of the year. Ralph Acampora director of technical research at Kidder Peabody and co., said the Market showed its widest breadth since october. On wednesday the Span Between advancing and de Clining issues was 854, compared with 631 on oct. 21. The strength in the Dollar suggested to Stock investors that the fed May not have to tighten credit conditions fur ther said Michael Metz a Market analyst at Oppenheimer and co. Metz said equities investors were concerned that the Federal Reserve would raise interest rates further to slow eco nomic growth. Recent government reports including one on december retail sales suggested the Economy was growing at a robust rate. With those reports in mind Metz said investors were worried that Decem Ber Job data which was expected Friday would Back up those reports. Early Friday the labor department said the nation s civilian unemployment rate in december fell 0.1 percentage Point to 5.3 percent of the work Force from 5.4 percent in november. In Addi Tion non farm jobs in december Rose 279,000 to a seasonally adjusted 107.66million after climbing a revised 404,000 to 107.38 million in november. While the Job data were not especially soothing to investors they were in line with analysts expectations. As a result most Market participants took the report in stride and Stock prices finished the week on a higher note. On the trading floor Rwjr Nabisco was the most Active Issue up 2% to 93 a. Banking sources said major Japa Nese commercial Banks were still undecided Friday about a request by Kohl Berg Kravis Roberts and co. For As Muchas $5 billion in High risk Loans to help finance its takeover of Rwjr Nabisco. The sources however believed the Banks would Issue the Loans because High re turns were  electric followed off a to 44%.exxon was third up a to 44/2. Exxon and other Oil issues strengthened in the Wake of the . Navy s attack wednes Day on two libyan jets. Phillips Petroleum Rose l /8 to 205/g, and Mobil Rose % to 45%. Texaco which said it expects to receive bids of As much As $4 billion for its 78 percent stake in Texaco Canada Rose 2 to 53 is. At tended unchanged at 28% on the week. Ism eased /4 to 121 %. Among other Blue chips general motors jumped 2 /4 to 85%, Merck Rose /2 to 58 a and american express climbed l /8to273/4. Holly farms soared 4% to 60. Tyson foods sweetened its tender offer for All of Holly s common shares to $60 a share in Cash from $52 a  the american Stock Exchange the amex Market value Index Rose 5.39 to close the week at 311.40. Advances led declines 573-255 among1,019 issues traded on the amex. Vol ume totalled 38,915,855 shares com pared with 46,429,850 traded a week ear Lier and 63,435,680 traded in the Sam week a year ago. Amdahl led the amex issues on the week off /2tol93/4. The National association of securities dealers Index Rose 3.38 to 384.76 on the week. Fund prices Ili Lillib fint 9.38 9.38 .01 gnat 14.2514.25global t 9.95 9.95 .05 go bunt 10.68 10.68 .03 Glrst 9.51 9.51 .04 Gupit 9.17 9.17 .02 go plot 8.81 8.81 .02 go tsp 9.72 9.72a top 11.50 11.50 .06 Hyld t 9.71 9.71. Invert 10.15 10.15 .04 Mazt 10.86 10.86 .01 Murat 11.10 11.10muhith 10.45 10.45munt 10.43 10.43 .01 Mundt 10.32 10.32murat 10.65 10.65 .01 Munt 10.95 10.95mum it 10.8310.83mutt 10.11 10.11munct 10.52 10.52 .01 Munjat 10.18 10.18 .01 Munyat 10.75 10.75 .01 Mort 10.93 10.93 .01 Mouht 10.7410.74murat 9.69 9.69a tout 15.0415.04optat 8.22 8.22 .02 rest 13.03 13.03 .04 tilt 14.63 14.63 .08putnam funds Scarp 38.70 39.69 .02 a Cusp 40.83 41.88 .06 Calyx 15.53 16.30. Cap Asp 11.4912.06conv 14.41 15.75 .03 Der inc 12.5213.14engr 14.17 15.49 .06 Gnu p 9.66 10.14. Georg 12.39 13.54 .03 global p 15.86 16.65 .03 Grolnic 11.31 12.36 .02 health 16.79 18.35 .04 Hilnic p 9.94 10.66 .01 Hyld 14.49 15.54 .01 had lip 11.1611.97income 6.74 7.23 .01 in Osc 15.92 17.40 .02 int leg 26.05 28.47 .10 invest 699 7.64 .02 Matt 11.96 11.96 .02 Mitt 12.16 12.16a next 12.05 12.05 .01 nyx 16.82 17.66 .01 of text 12.01 12.01once p 26.33 28.24 .02 open 8.50 9.29 .04 of Tell 8.92 9.75 .02 tax sex 25.35 26.61. Fth it 13.87 no. Finst 14.21 no .02 us gtd 13.43 14.10vista 18.06 19.74 .09 voyage 19.98 21.84 .01 quest go 11.1711.70quested 25.62 26.83 .07 inc group cd sep 9.11 9.56 .04 a Gyp 12.09 12.69a std 9.51 9.98 .05 Rainbow 5.40 no .02 rear 13.69 14.68. A Chang 14.23 no .05reseq 13.64 13.64 .02 re Hume group blues a 24.00 25.20 .03 a top 29.66 no .02 go sep x 13.79 14.48 .06 i i my Hiob a Ihmi by we Bow a or trip 22.68 23.81 .01rochester fast a if q no o to j non tip . S.0� cd inv lip 6.40 6.61or the 6.93 7.16 .04 Manip 16.09 16.76tax 11.96 13.07 .07 Rodney Square a Nus 8.42 8.82goth p Una Vail int leap 11.11 11.79 .03 Royce funds ingot 8.36 8.36 .01 value 8.09 8.09 .05 Tot rtt 4.83 4.83 .01 Rushmore group Sapid 12.32 no .04 Otid 12.26 no .01 us gig 9.19 no .04 us gov 9.52 no. To Flag 10.34 no. To fint 10.13 no .01 lbs Rcv 9.78 9.78 .03 lbs for 13.10 13.10 .01 set group in Vire 11.31 11.91equity 11.61 12.22us Gap 6.64 6.99up if ads divert 11.38 11.38 .05 into of 11.09 11.09 .02 in Muf 10.05 10.05 Sale co secur. Calf 11.11 no. Equit 8.69 no .05 growth 15.13 no .01 Inco 14.35 no .06 munic 13.03 no. Us gov 8.99 no .01 Sale map 14.11 14.11 .05 Schieldt x 10.73 11.18 .04 Schror 7.17 7.17 .02 Scudder funds Calyx 10.31 no. Capt 16.23 no. Devel 20.61 no .02 est yen 11.03 no .03 gen90 10.12 no. Global 14.90 no .03 Gama 14.03 no. Gold 11.02 11.02 .04 Grain 13.30 no .03 income 12.38 no. Into cd 33.27 no .04 mob 8.60 no Max 12.25 no Nytar 10.63 no .0 to Fhi 11.06 no .0 txfr90 10.02 no txfr93 10.54 no txfr96 10.71 no a eaglet 9.87 no .01 Security funds action 8.83. .04 Bonds 7.47 7.84equity 4.83 5.28 .01 invest 8.11 8.86 .01 on if 2.77 3.03 .06 Ultra 6.56 7.17 .01 selected funds am sep 13.84 13.84 .10 spa she 17.13 17.13 .10 sell Man group caped 10.55 11.08 .01 Coloty 6.96 7.31pm St 11.39 11.96 .02 co Mun 10.02 10.52 .03 flax 6.87 7.21 .01 growth 4.42 4.64 .01 Inco 12.13 12.73 .04 late 7.76 8.15a asst 7.59 7.97"mdtx 7.46 7.83michta 8.00 8.40 .01minntx 7.55 7.93mai to 7 9fl 7 Lefimil in   Ltd 7.70 8.08 .01 a step 7.08 7.43 .01 Nytar 7.62 8.00 .01 of Iota 7.74 8.13orte 6.92 7.27patap 7.41 7.78 .01 Cayax 6.31 6.61cat a 6.41 6.71 .01 site 7.29 7.65go gtd 7.03 7.38by dip 7.02 7.37mtg sep 6.66 6.99 .01 Sentinel group Balan 12.13 13.26 .01 Bond 5.98 6.54corns 22.10 24.15 .02 go self 9.20 10.05 .01 growth 11.70 12.79 .02 Sequoia 38.94 38.94 .14 sentry 11.44 12.43 .04 Shearson funds Matig 49.90 52.53 .21 Atlin 98.87 no .61 a mgr 14.18 14.93 .01 App re 28.44 29.94 .12 Calm 15.41 16.22adv air 5.94 6.25 .01 global 24.31 25.59 .06 Hyld 17.46 18.38 .01 Leuca 15.80 16.63 .01 Lehun 15.66 16.48 .01 spa get 11.05 11.05 .01 split 8.08 8.08 .02 my Ger 11.99 12.62 .01 Mun 14.87 15.65 .01 Namu 11.84 12.46 .01 Slot 48.93 48.93 .15 Namu 15.94 16.78 .01 slim 15.54 16.36 .02 slim 13.73 14.45 .02 pc not 12.93 12.93 .03 up get 16.26 16.26 .05 Spott 12.85 12.85 .09 spa get 14.87 14.87 .05 up sect 10.03 10.03 .02 spa Start 14.47 14.47 .05 split it 12.21 12.21sprint 13.73 13.73 .01 spa Ftp 16.66 16.66 .10 up mtg 10.67 10.67 .01 up text 16.76 16.76 .01 shr map 6.70 no .15 Sigma funds capita 8.21 8.73 .01 i sight 6.51 6.93 .02 visits 10.31 10.97 .01 i cop 8.18 8.57 .02 invest p 9.86 10.49 .02 Spda 8.56 9.11 .01 Trust p 13.04 13.87 .03 a sgt Una Vail Valsh 9.17 9.76 .02 vent 8.37 8.90 .03 world p 13.89 14.78 .04 site by 25.70 no .04 skylab up 9.49 9.87 .02 sky sep 10.53 10.95 .08 Smith Barney equity 12.62 13.15 .01 in Gro 11.09 11.77 .04 Incret 9.08 9.19mogot 11.64 12.13 .01 mural 11.30 11.77 .01 Munnt 12.20 12.71. A sgt 12.52 13.04 .02 so Gen p 16.76 17.41 .04 sounds 12.82 no .03 Samut 11.73 11.73 .04sthestg t Una Vail Sovern 11.23 11.82 .01 state Bond Gap Cost 6.30 6.89 .01 Niu orc 7 a3 r194. Ipuivbi3 f to q.1�y it Progris 9.47 10.35 .01 Taxt 10.3310.82us Gap 4.72 4.97 St far mods Balan 18.5418.54goth 13.49 13.49 .01 Muni 7.80 7.80 .01 Sistr Petresh exc 134.49 134.49 .08 growth 75.55 75.55 .14 inv 73.00 73.37 .07 Steadman funds Amend 2.10 no. Assoc .59 no. Invest 1.24 no .01 Ocean 3.13 no .02stein Roe ads Cap of 20.53 no .04 disc 9.24 no .07 go Tutu 9.38 no .01 hymn 11.63 no .01 Hynds 9.44 no. In thu 10.39 no. My did 8.32 no .01 a gym 8.75 no. Prime 8.97 no .01 sped 15.32 no .03 Stock 14.57 no .05 Tot ret 22.25 no .02 univ 12.75 no .06strategic funds Gold 4.67 5.10 .01 invest 2.78 3.04 .03 Silver 3.91 4.27 .02 Strain do 23.71 no .04 strata the 19.36 no .10 Strong funds disco 11.56 11.80 .02 Gosc 9.98 no. Inco 11.90 no .02 invest 17.70 17.88 .03 Opaty 17.06 17.41 .06 std 10.08 no .01 finc 9.35 no. Total 19.16 19.35 .05 the Cue 9.88 10.37 .02 the cumin 9.76 10.25 .01 Templeton group fran 19.35 21.15 .06 global 7.36 8.04 .02 or Orth 13.88 15.17 .02 Inco 10.06 10.99 .02 world 14.32 15.65 .02 Thomson Mckinn a sect 10.23 10.23 .01 global t 10.61 10.61 .01 go the 14.15 14.15ingot 9.59 9.59port 11.92 11.92 .03 Primet 9.42 9.42 .05 tax ext 10.89 10.89a sgt 9.18 9.18trust lip 10.45 no .06 Trust Gap 14.69 no .01treasft 9.31 no. Trust funds bold up 9.22 9.22ltd by 9.72 9.72she Gap 9.52 9.52int Gap 9.27 9.27eld up 10.3210.32value 10.06 10.0620th Century balls a 10.07 no .02 gift 7.11 no .03 growth 12.45 no .01 Herlov 6.27 no .04 a tend 90.41 no .03 select 27.33 no .08 Trein 96.58 no. A Tvelt 96.79 no .02 Ultra 7.16 no .02 a sgt 92 07 no 02 Vista 6.06 no. Lynn wig 11.22 11.82usaa group corns 16.55 no. Gold 8.21 no .01 growth 11.87 no .06 Inco 10.94 no. Inc St 10.31 no .04 into 10.49 no .02 Salt 16.44 no .03 Tzeh 12.82 no. Tvelt 11.73 no .01 Tresh 10.35 no. Unified a genl Genrl 8.52 no. Goth 19.69 no .09 Inco 10.77 no. Indi 8.74 no. Mutl 14.46 no .06 United funds acc 6.51 7.11 .02 Bond 6.03 6.59conine 14.95 16.34 .04 go div 7.50 8.20 .01 go Sec 4.80 5.01in Lgth 6.41 7.01 .01 Hilnic 11.88 12.98 .02 Hill cell 4.58 5.01 .01 income 16.97 18.55 .07 Muni 6.98 7.29 .01 Mun i 4.87 5.09new capt 4.98 5.44 .01 retire 5.44 5.95 .02 scene 10.05 10.98 .03 Vang 5.82 6.36 .02 Ltd services get 15.50 no .01 Gama 9.12 no .02 go shr 3.30 no .03 growth 6.40 no .03 Inco 9.99 no .04 Locapo 6.28 no .03 a pro 1.21 no. Or scr .69 no. Riest 9.22 no .05 Usta 10.97 no .01 stint 8.64 no. Valfre 9.61 9.61value line cd a Gran 7.99 no .04 conv 10.80 no .01 fund 13.24 no .05 income 5.86 no .02 Levit 19.04 no .08 Mund 10.25 no. Nyte 9.75 no .02 split 11.46 no .06 a sgt 11.54 no .01 Vaneek Gldys p. 4.50 4.86 .01 int lev 11.21 12.25 .11 old lip 9.32 10.08 .03 we Dorp 13.12 14.18 .04 Vankampen men Catap 15.2716.06go the 15.41 16.20 .07 Hyld p 13.44 14.13 .01 in top 17.44 18.34 .01 to Ftp 16.21 17.05us Gap 14.6415.39vance Exchange Cape 97.61 no. Dust 56.32 no .16 diver 105.51 no .19 exod 146.23 no .15 expo 134.37 no .02 Fedex 82.20 no .01 Sefoid 82.70 no .16 Vanguard group assets 10.30 no .03 a mkt 9.01 no .01 convert 8.79 no .03 Seq inc 1087 no .05 exper 28.20 no .04 sex poll 19.85 no .03 Morg 10.42 no .03 nest 36.27 no .04 or map 45.29 no .02 phys 14.43 no .08 pref 7.88 no. Var 19.41 no .02 Quant 11.20 no .03 Star 11.21 no .03 tint 28.20 no .01 Tecusa 26.98 no .17 Gama 9.22 no. I Yod 8.41 no .01 Igind 7.79 no. Short to 10.18 no. St govt 9.74 no. User 9.11 no .03 id ext 11.74 no .05 Indus of 27.49 no .07 Muhy 10.02 no. Munt 1187 no .01 Murld 10 09 no Mug 10.30 no. My neg 11.43 no .01 must 15.21 no Callas 985 no .01 a Vine q of Nln i a  ii. Penn in q r4 my 4. 01rclllllll  ill a i a spa r 11 re my 4 1rvoru 1  Pilot to a spa r 9 25 i a Phr 1ft 77 no 4. Inv or n i  Hilt us a Spur 15.28 no .10 a str 10.94 no .02uupiki 159 i j. Fin  i  i it us Wellton 16.14 no .05 in her 139 my j. Al few Fluor  la t us Wndell 12.94 no .05 we Dent 10.31 no .04uuihi 1c 7 in my i our  no. Venture advisers Inri it 09 it 49 Lull re   Muni t Una Vail Nyven 7.69 8.07 .02 ppr 1 a ft9 a Ron re  . Rufet 17.66 17.66 .04 i Keln 14.62 no .04 wealth p 6.65 6.65 .06 Weiss Peck Greer to Hinr 01 of my i Luxor  null a Ftp on in i i Norli  no of govt 9.70 no .01puith not or he 10 Uwon 94.03 no Rieuf Anict c conc i no Mailot  7.u5 a Udall to  Iha Altai i 10 in hit Asiati  no Bonds 11.00 no .02 Cost of 19.09 no .04 Smi cof 14.27 no .06weslcore std 9.76 10.22. In Ted 9.87 10.34. A Dpi 14.76 15.46 Bashi 18.38 19.25 .07 mod i 10.01 10.48 .02 mid 10.06 10.53 .02 wested 11.92 12.42 .02 Wood Struthers new 12.96 no .09 Pine 11.35 no .03 Wing t 9.83 9.83. Yam Gib 9.77 10.25 .03nl no initial sales Load. F previous Day s quote. R redemption charge Mayapple. " x extra dividend