European Stars and Stripes (Newspaper) - January 21, 1990, Darmstadt, Hesse                                Page 20 the stars and stripes sunday january 21. 1990 investor s guide by Bill Doyle q. I hive three iras two in certificates of Deposit it Banks and one in stocks Bonds and Mutual funds at a brokerage firm. My two daughters Are the Ira beneficiaries. Upon my death will my Daugh ters have to pay income tax on the value of my iras when my estate is settled a. Not at that Lime. Everything in your iras will remain deferred from income tax until withdrawals arc made. Your daughters will have to pay income tax when they Lake Money out of your iras. Q. You have explained that the basis Cost for tax purposes of inherited Slock is established when the estate is settled. Usually that basis becomes the Stock s value on the Dale of death. If the Stock s value has increased that reduces the capital gains lax when heirs sell the Stock. Does this also apply to stocks in iras a. No. Basis docs not come into the picture on an Ira. If you bought the Slock in the Ira with a tax deductible contribution All withdrawals you make while living will be taxable As Ordi nary income. If you bought the Stock with non deductible contributions the part of the withdrawals apportioned to those contributions will be tax free. The rest will be fully taxable. Glum reports Send Market skidding new York up the Stock mar Ket skidded to a loss last week As some glum earnings reports and signals that the Federal Reserve would not help Rescue the Market with an interest rate Cut put pressure on prices. The Dow Jones Industrial average Rose 11.52 Friday to close at 2677.90. Down11.31 Points on the week or about 0.4 percent. Among the broader Market averages the new York Stock Exchange composite Index lost 0.76 Point to close the week at 187.56. Standard & poor s 500-Slock Index dipped 0.78 to 339.15. Declines led advances 1,158-719 among the 2,162 issues traded last week. Big Board volume totalled 861.410,620shares, compared with 809.635,510 a week earlier and 806,824,480 a year ago. Jitters Over fourth Quarter earnings started to Lake hold of the Market two weeks ago and some of its worst fears were realized last week. On wednesday International business machines corp. And aluminium co. Of America shocked investors with their re ports for the final Quarter of 1989. Ism reported profits below analysts already lowered expectations. The bellwether Dow component reported earnings fell to $1.04 a share from $3.97 a year earlier but the 1989 Quarter included a $2.4 Bil lion restructuring charge. Later that Day Alcoa came in with quarterly earnings that were sharply lower and below expectations starting the Market on an afternoon decline that culminated in a 33-Point loss. The Slock is not Only a component of the Dow industrials but of other major Market indexes As is ism. Before Wall Street had a Chance to re cover from that news. Digital equipment Early thursday reported earnings of si.25 a share for the december Quarter below even the most pessimistic expectations. The Stock closed with a loss of almost $6 a share. On the trading floor last week Citicorp was the most Active nose Issue off % to 26. Philip Morris followed up Vij to 39 w. Aristich chemical was third surging 7v to 25 v. A management group offered to buy the company for $26 a share and an investor who has about 9 percent of the company said he would boost his bid of $25 a share. Elsewhere on the takeover front. Rorr soared 14% to 63 a after tentatively agreeing to a merger with the pharmaceutical unit of France s Rhone poulenc. Foreign investing in . On Rise Washington a foreigners spent $58.4 billion on direct investments in the United Stales in 1988, up $300million from 1987, according to govern ment figures. The Commerce department s International Trade administration said it recorded 1,084 foreign direct investments in 1988, Down 18 percent from 1,328 in 1987. The Agency reported that the values of the 516 transactions it could identify Rose 0.5 percent to $58.4 billion from $58.1 billion in 1987. It said transaction values for Many investments were not publicly available. Foreign direct investment Means the direct or indirect ownership of 10 percent or More of the voting securities of an incorporated business an equivalent interest in a unincorporated business or 10 percent or More interest in real property. Calling 1988 the year of the big  the Commerce department said the transactions included nine valued at More than $1 billion with a combined value of $22.1 billion or 38 percent of the  other transactions were valued at $500 million or More each and had a combined total of $32.2 billion or55 percent of the Overall total. The department said a record 110 investments were Worth $ 100 million or More. As in the past four years Japan was the source country for the largest number of transactions the report said. More than 46 percent or 419 transactions originated in Japan with 201 identified values totalling $15.1  British investors were second with 213 transactions including 116 with identified values totalling $ 15 billion. Noting thai the major industrialized nations traditionally have been the source of most direct investment activity the Agency said Canada France West Germany the Netherlands and Switzerland joined Japan and Britain tomake 906 transactions or 84 percent of the total. That was Down from 87 percent of the 1987 total. 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