European Stars And Stripes (Newspaper) - January 29, 1989, Darmstadt, Hesse                                Page 20 the stars and stripes sunday january 29,1989 business news Stock Market soars past pre-1987 crash level new York up Stock Price soared last week in some of the heaviest trading in months and the Dow Jones Industrial average jumped 31.79 Friday to end the week at 2322.86, Well above the 2246.74 level from which the Market began its 508-Point plunge on oct. 19,1987. For the week the Blue Chip Index gained 87.50 Points. Broader Market indicators also reached Post crash highs. The new York Stock Exchange composite Index rose3.62 to 164.78 while Standard & poor s 500-Stock Index advanced 7.19 to close the week at 293.82. Advances led declines 1,236-629among the 2,163 issues traded. Big Board volume totalled 981,997,360shares, compared with 806,824,480 the previous week and 968,374,220 a year ago. It was the busiest trading week in seven months. Investor s a Imide by Bill Doyle q. Not wishing to leave my municipal Bonds with my broker i have always chosen to keep the myself. These Are bearer Bonds with Semi annual interest Coupon attached. As each interest payment conies due i Cut off the appropriate Coupon and present it to my Bank which credits that interest to my account and sends the Coupon to the Bond s paying agent for col Lection. On several occasions the coupons have been returned to my Bank unpaid. My ban then debited my account for the amount of the Doyle interest and sent the Coupon to me. Each time the explanation was that the Bond had been called for Early redemption at the time of the previous interest payment. I then had to Send the Bond certificate tothe Bond trustee and collect the Call Price which was a bit More than the Bond s face value. Mean while i lost interest. I now see the advantage of hav ing these Bonds in registered status. My broker has been unable to Tell me How to make that change. How is that done a. By sending each Bond certificate to the Bond s registrar with instructions to change it from bearer to registered form. The registrar then puts your name on therond certificate. Your name and address Are put on the record books of the interest paying agent and the Bond trustee. The registrar also cuts the remaining coupons off the Bond and destroys them. Checks for future interest payments Are mailed to you. Send your Bond certificates by registered mail return receipt re Quested. The name of the registrars on the certificate. But make sure you Send each certificate to the Correct address which your broker or banker should be Able to pro vide. Besides the convenience of get Ting interest payments this will help prevent unhappy surprises concerning lost interest. When a Bond Issue is called for Early redemption the trustee usually Noti fies each registered Bond owner by mail. Analysts said strength in the Dollar and news of a slowdown in economic growth in the fourth Quarter helped turn investors psychology from bearish to bullish during the week. As a result buying activity allowed the Market to set Post crash closing highs every Day but monday when investors took profits on gains won in the Market Over the last 10 weeks. The Commerce department Friday said the summer drought caused the Gross National product the value of All goods an services to climb to an annual rate of 2 percent compared with 2.6 percent in the third Quarter. Most analysts had forecast growth rate of 2.3 percent. News of the easing in economic growth sent both the Stock Market and Bonds rallying. The Dollar which dipped on the news recovered later in the face of intervention by Central Banks. It was strength in the Dollar during most of the week that analysts said gave both foreign and Domestic investors incentive to invest in stocks. Michael Metz Market analyst with Oppenheimer & co., said the Gnu data added support because it suggested that the Federal Reserve would be less Likely to raise Short term interest rates to curb economic growth. Metz said he was a Little surprised that the Gnu data received such a favourable reaction from Stock investors. But the Market s psychology has changed lately he said. Everyone wants to look at things  indeed investor bullish Ness helped the Market shrug off the negative implications of a government report released thursday which said durable goods or Ders Rose 6.4 percent in december far above the 1 percent increase analyst were looking for. Apple earnings reversal batters Stock san Francisco not in dramatic reversal from what it said last week Apple computer inc. Announce Friday that its earnings will drop unexpectedly in the current Quarter. Apple said the decline will last Only on Quarter but the announcement sent Apple s Stock into convulsions. The Stock which is traded Over the counter closed at $37.625, Down $4.125. About 18 million shares were traded 11 million of them in the first hour after the news was announced. 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Ten Days ago Apple told analysts that it was comfortable with estimates for the second Quarter of about 65 cents a share. John Sculley Apple s chairman an chief executive said the company was Hurt because it accumulated a surplus of High priced computer memory chips which it now must use in computer whose prices were lowered last week. Demand for Apple s macintosh computers remains Strong Sculley said and the company expects Revenue growth of35 percent for the Quarter and 30 percent for the year. He said earnings would re cover in the third fiscal Quarter to expected Levels. 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