European Stars And Stripes (Newspaper) - February 19, 1989, Darmstadt, Hesse                                Page 20 the stars and stripes sunday february 19,1989 business news Market up sharply after recent slump new York up the Stock mar Ket posted a Sharp gain last week As investors took advantage of its recent slump to buy issues at lower prices despite their concerns Over the possible negative Impact of some Strong economic data. The Dow Jones Industrial average which Rose 13.39 Friday closed the week at 2324.82, gaining 38.75 Points on the week or 1.7 percent. Broader Market indicators also advanced. The new York Stock Exchange composite Index Rose 2.44 to 166.45, while Standard and poor s 500-Stock Index climbed 7.74 to close at 196.76. Advances led declines 1,120-727 among the 2,141 issues traded. Big Board volume totalled 786,525,830 shares compared with investor s guide by Bill Doyle q. We have a $20,000 certificate of Deposit due to mature soon. We rethinking of putting this Money into a single Premium life insurance policy. The insurance agent explains that this policy pays about 8.5 percent annually and it s tax free. This Means we would get $1,700 per year on which we would not pay income tax. This sounds too Good to be True. I there a catch a. Hold your horses. This tax break no longer exists. The Deal you outline was available until the lat est tax legis lation was passed. That Law contains provision specifically putting an end to what Doyle was being sold As the last of the great tax  As the name indicates a single Premium life insurance policy is purchased with one payment a single Premium of $5,000 or More. Earnings on the Premium increase the policy s Cash value. That buildup in value is tax free. Under the old rules after buying a single Premium policy you could borrow the increase in your policy s Cash value each year and pay the same interest on the loan that your policy earns. Doing that you would get Loans at no Cost and on which you would pay no income tax. Not surprisingly enterprising sales people were peddling single Premium life insurance policies a providing tax free  the new Law changes that. Distributions including Loans from single Premium policies is sued on and after june 21, 1988 Are taxed up to a ceiling equivalent to the accumulated earnings in the policy. Boiled Down that Means income tax must be paid on the amount of distributions equal to the earnings buildup. Q. As i understand it Congress did not pass the new Law putting the Kibosh on the single Premium life insurance tax loophole until Long after june 21. Why is that Date effective for closing the loophole a. The proposal to end some of the tax Breaks in single Premium life insurance policies was approved by the House ways and Means committee on june 21 and was voted into Law on oct. 22.As is often the Case with Federal tax Laws the new Rule was made effective As of the Date it was approved by a congressional committee. 955,486,870 the previous week and 644,296,530 a year ago. The Market began the week on a Low note after last Friday s stronger than expected report on january producer prices raised fears that credit would be tight ened to combat inflation. Things improved tuesday however when the Market managed to close mixed despite news of a 0.6 jump in re Tail sales during january. While the retail data gave further proof of a surging Economy analysts said some investors chose to View it in a Posi Tive Way noting the Strong Economy was helping Many companies Post higher earnings and dividends. Stock prices Rose sharply wednesday As investors focused on capitalizing on the Market s weakness earlier this month by purchasing stocks at lower prices in Hopes they would eventually go higher. Similar activity prevailed through Fri Day with trading gradually slowing ahead of the december Trade report which turned out to meet expectations. The government said Friday the  Gap narrowed in december to $11.9 billion compared with a revised $12.22 billion Trade deficit in november. On the trading floor Union Carbide was the most Active Issue gaining 3 a to 32. The company reached a $470 million settlement with the Indian government of All claims related to the 1984 Bhopal Gas disaster. Church s Fried Chicken followed adding 15/s to 10 /4. The company agreed to be acquired by Popeye famous Fried Chicken for $11 a share in Cash and Stock or roughly $392  other Blue chips general motors fell 1% to 88%, general electric Rose % to 46%, Avistar International fell /2 to 5% and Exxon Rose /4 to 44%.on the american Stock Exchange the amex Market value Index Rose 3.18 trend the week at 325.95, while the National association of securities dealer Index added 4.82 to 407.19. Advances led declines 405-390 among1,031 issues traded on the amex. Vol ume totalled 59,072,615 shares com pared with 62,438,645 traded a week ear Lier and 54,416,280 traded in the same week a year  corp. Led the amex actives gaining 1% to7 /2. Pest fire fens this year s Sweet Harvest Montpelier it. A while new England s Maple sugar producers prepare for the coming season 150 scientists Are meeting to discuss a Little known pest threatening the Spring tradition and $25 million Industry. The three Day conference this week in Burlington will focus on the Pear thrips tiny insects that last year defoliated 469,000 acres of Forest in Vermont 1.2 million acres in Pennsylvania and additional acreage in the other new England states and new York. The damage in Vermont compares with 21,000 acres the year before. Bruce Parker an entomologist at the University of Vermont said research is continuing on the Sliver shaped insects which begin their damage in april by climbing into Maple buds and feeding on the tender Young leaves. We re going to have problems this year but the extent of the problems Wedon t know yet he said. Maple producers Are beginning to bore tap holes and set up the tubing that collects the Maple sap As they get ready for the sugaring season which begins in Early March. For them the overriding question is what effect the Pear thrips will have on their source of income. Fifty four percent of the state s Maple sugar ers Are planning to reduce their taps partly because of last year s infestation said Sandy Wilmot the Pear thrips coordinator for the Vermont depart ment of forests Parks and recreation. Pear thrips damaged More than one sixth of Vermont s Maple forests last year. Significant damage was also spotted in Pennsylvania new York Massachusetts and Connecticut with lesser damage in new Hampshire and Maine. Damage by the thrips combined with last year s Spring and summer drought caused widespread concern about the Overall health of the Maple Forest and How much stress a tree can take. It also forced scientists to produce the first research about an insect that has Only been considered a Forest pest in this country since 1979. Before then it affected mostly fruit Orchards. Mutual funds from Page 19w Munct 10.5010.50munjat 10.18 10.18munyat 10.74 10.74 .01 Mort 10.93 10.93. 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