European Stars and Stripes (Newspaper) - September 03, 1989, Darmstadt, Hesse                                Sunday septembers 1989 the stars and stripes Page 19 business news Market closes the week at record High Doyle new York up1 the Stock mar Ket rallied to record highs Friday with supportive economic news and ongoing takeover fever boosting prices in Light pc Holiday trading. The Dow Industrial average which moved up 9.12 thursday Rose 14.82 to an All time High of 2752.09. Its previous record High was 2743.36, set monday. For the week the Blue Chip Index gained 19.73 Points or 0.7 percent scoring its ninth straight weekly gain. Broader Market indexes also set record investor s guide by Bill Doyle q. A relative buys Stock in the company for which he works through a payroll deduction plan and has done so for the past 10 years. He now wants to sell some of he Stock. How does he determine his basis Cost for tax purposes on the Slock since it was paid for a Little each week Over a period of years a. If your relative saved the re cords of his Stock Pur chases through pay Roll deductions at least the year end summaries of those Pur chases he can get the numbers he needs from those records. If like All too Many people who write to this column he did not keep those records he can try to get copies from his com Pany s personnel department. Wish him Good Luck. That can be difficult sometimes impossible and always expensive. The lesson Here of course is that everyone should keep the original records of All securities and other capital As sets owned. But let s look to the Bright Side and assume your relative has those records or can get his hands on them. He can pick the particular shares he wants to sell. That s known As the identified shares or specific identification method. The difference Between the Cost of those shares As shown in his records and the proceeds he receives from the Sale will be his capital gain or capital loss which he will be required to report on his income tax return. Almost certainly he would be Wise to sell his highest Cost shares. That will reduce or eliminate the profit on which he will have to pay tax. Q. I made three purchases at different prices of Stock in the same company. The company changed its name called in All its old Stock certificates and sent Back certificates bearing the new corporate name. I now have a single certificate for All my shares. What is my tax Cost basis for my shares a. The same As it was before. The Exchange of certificates to reflect the corporate name change did not alter your basis. C King feature highs. The new York Stock Exchange composite Index Rose 1.10 to 196.37 and Stan Dard and poor s 500-Stock Index climbed 2.28 to 353.73. The Price of an average share gained 22 cents. Advances led declines 892-499 among the 1.948 issues crossing the nose tape. Big Board volume totalled 133,300,000 shares compared with 143.420,000 shares traded thursday. The Market on Friday benefited from strength in the Bond Market and futures related program buying. Government economic reports we reopen to varying interpretations but. On balance the markets reacted favourably tothe figures. Bonds sported big gains after an abbreviated pc Holiday session helped by a bullish response to the August Survey from the nation s purchasing managers. The National association of purchasing management said its monthly poll showed lingering weakness in the Indus trial Side of the Economy. The labor department said the nation s unemployment Rale remained at 5.2 per cent in August. Non farm payrolls expanded by 110,000, a total that was reduced by about 108,000 because of  separate Commerce department re port pointed to a possible rebound in momentum after months of sluggish economic activity earlier this year. Stock prices opened lower in response to the employment data but reversed course shortly afterwards As Bond prices rebounded from their initial weakness. The rebound in the two markets Fol Lowed the release of a Survey of the nation s purchasing managers which said growth in the manufacturing sector of the Economy slowed in August for the fourth straight month. The Dow Jones transportation average spared 16.90 to a record 1526.32 As air line issues rallied on reports that unite airlines pilots Union British airways pc and Ual corp. Management have put together a $300-a-share bid for Ual. Los Angeles billionaire Marvin Davis has offered $275 a share for Ual. Takeover talk is helping to keep investors interested in the Market said Harry Miller portfolio analyst with interstate Johnson Lane corp. In Atlanta. Analysts said trading activity slowed gradually through the session ahead of the Long weekend. The Market will be closed monday in Observance of labor Day. On the trading floor general motors was the most Active nose Issue rising i to 50. Niagara Mohawk Power followed gain ing to 12 a. Bristol Myers was third. Climbing v to 50%. Ual surged 7 i to 287among other airline issues Amr owner of american airlines jumped i a to 89v.and Delta air lines climbed i to 80. Volume of nose listed issues including trades in stocks on regional exchanges and in the Over the counter mar Ket totalled 158,998,540 shares compared with 172,352,650 in the pre Vious session. Prices closed higher in moderate Trad ing on the american Stock Exchange. The Macx Market value Index Rose 1.77 to 383.96. The Price of an average share gained 7 cents. Advances led de Clines 331-207 among the 817 issues traded. Composite volume totaled14,945,575 shares compared with 15,580,430 shares traded thursday. Bolar pharmaceuticals led the am issues dropping i / to 19%. The National association of securities dealers composite Index Rose 2.01 10 a new record High of 471.34. No Mutual funds because of transmission difficulties the weekly Mutual funds listing and the 10 and 15-most Active stocks were not available for this edition. . Officials arrest 3 lebanese seize plane at Harrisburg Airport Harrisburg a. A Federal officials saturday seized a si3 million lebanese owned Jet and arc considering criminal charges against the Crew and passengers because the plane landed without permission earlier last week at Harrisburg International Airport. Henry Brattlie Deputy District director of the . Immigration and naturalization service office in Philadelphia said the plane landed at the Airport aug. 27, after disregarding orders to travel to Philadelphia for immigration inspection. The plane had come from London. The Gulf Stream Jet which can hold up to 20 passengers returned to Harris Burg again Friday night from Burbank calif., at which time it was seized and at least three occupants were taken into custody. Brattlie said the occupants were aliens who failed to Check in with immigration officials. He said the lebanese Passen Gers and Crew showed blatant disregard of the country s Laws. We had no knowl Edge when they came in whether they were terrorists or Fine upstanding Citi  he said a subsequent investigation showed they were not terrorists. Brattlie was scheduled to meet sat urday morning with Rick Spon Schlor an assistant . Attorney from Harrisburg to determine How to proceed. We expect to file a complaint in the near future Brattlie said. Under Federal Law anyone attempting to bring an alien into the country without permission can be fined $1,000 and sentenced to one year in jail. Any alien who enters the country without checking in with immigration officials can be jailed for up to five years if convicted. The plane is owned by a lebanese corporation. Brattlie said ins agents interviewed the passengers then seized the Jet at 1 30a.m. Second graders in a Tokyo Public school Duck under their desks during an earthquake Drill on Friday. The earthquake Drill Tokyo metropolitan area was struck by a a ssh earthquake on sept. I 1923, killing some 200,000 people and the first of september is observed every year in Japan As National disaster prevention Day