Newspaper Page Text
Stocks on
wild run
Stocks went on a pre-holiday,
wild nm this week but still man
aged a good showing to finish well
ahead of last week's close. The Dow
Jones average ended Friday at
2054.59, up more than 37 points
for the week. Friday's big gain of
52 points is the best showing of
market strength in some time. It is
also the best one day's climb so far
this summer. Volume totals also
improved somewhat on Friday but
the average for the week was still
below the 120 million per I share
day.
In the "Bad-news-is-good-news"
Dept., the Labor Department re
ported that the nation's jobless rate
rose 0.2% of a percent to 5.6% in
August. Combine this with the LEI
)Leading Economic Indicator) de
cline of 0.8% and you have a reai
good case to argue of an economy
beginning to show signs of slow
ing down.
While the economy is still
chugging along at a very strong
pace, these two crucial barometers
were just the thing investors wanted
to hear to convince them that infla
tion and interest rates have appar-
STOCKS SYMBOL LAST WEEKLY VOLUME
PRICE CHANGE
American Express AXP 291/8 +1 1/4 1,459,900
Anheuser-Busch BUD 30 3/4 +1 1/4 991,600
Armstrong World ACK 34 +1 1/2 114,800
Atlanta Gas Light ATG 26 3/8 +l/4 32,500
AT&T T 25 +5/8 1,283,600
BellSouth BLS 40 3/4 +1 1/8 775,400
Boeing BA 591/2 +1 1/8 333,600
Chevron CHV 45 1/8 +5/8 367,300
Chrysler Motors C 231/8 +5/8 367,300
Church's Chicken CHU 45 1/8 +1 1/8 475,600
Coca Cola KO 41 +1 1/2 1,098,200
Coca Cola Enterprises CCE 13 +3/8 604,100
Delta Airlines DAL 467/8 +7/8 659,400
Digital Equipment DEC 941/2 +1 7/8 702,300
E-Systems ESY 28 1/4 +l/2 23,000
Eastman Kodak EK 431/8 +5/8- 713,500
Exxon XON 467/8 +1 2,122,100
Eaton Corp ETN 74 3/8 +2 5/8 34,600
Federal Express FDX 441/8 +1 1/2 122,000
First Wachovia FW 39 -1/8 16,200
Ford Motors F 501/8 +1 1/4 1,106,500
Fuqua Industries FQA 27 1/8 +l/8 38,700
General Motors GM 73 3/8 +1 1/2 484,400
General Electric GE 407/8 +1 1,656,000
Georgia Pacific GP 381/2 +3/8 372,200
Goodyear GT 591/4 +1 208,600
Goodrich (8.F.) GR 531/4 +l/4 295,000
Gould OLD 221/2 +l/4 1,832,900
GTE GTE 41 1/2 +3/4 1,172,200
Hewlett-Packard HWP 47 1/4 +1 3/8 524,100
Honda Motors HMC 155 3/8 +5 3/8 28,900
Hospital Corp of America HCA 337/8 +3/8 87,800
Int'l Bus. Machines IBM 114 +3 3/4 1,564,600
nr nr 48 3/4 +ls/8 227.700
Kellwood KWD 261/4 +5/8 35,400
K-Mart KM 33 +l/2 483,500
Kroger KR 36 3/8 +5/8 353,900
Litton LIT 731/2 +1 76,100
Lockheed LK 40 +1 1/8 190,400
Lowes Companies LOW 20 +l/2 70,600
M/ACom MAI 10 63,500
McDonald's MCD 43 5/8 +3/4 413,200
McDonnell-Douglas MD 62 7/8 +1 7/8 60,100
Merck MRK 55 1/2 +1 1/4 888,000
Navistar NAV 5 1/4 +l/8 765,700
Norfolk Southern NSC 27 3/4 +l/2 1 85,300
Northrop NOC 30 +l/2 90,800
Pepsico PEP 361/2 +1 3/8 824,100
Proctor & Gamble PG 761/2 +1 7/8 384,200
Raymond James Financial RJF 91/2 700
Rockwell Int'l ROK 207/8 +1 205,200
Scars S 35 3/4 +3/4 400,900
Southern Company SO 21 1,460,500
Sun Trust Banks STI 22 3/8 +3/8 143,800
Texaco TX 46 3/8 +l/2 329,400
TRW Inc TRW 421/8 -1/8 120,000
United Technologies UTX 36 3/4 +l/2 158,800 '
U.S. Steel X 27 3/4 +3/8 484,000
Union Carbide UK 22 3/4 +7/8 659.500
Wal Mart WMT 301/2 +3/4 629,600
Wendy's WEN 65/8 -1/8 349,400
Winn Dixie WIN 413/8 +1 36,100
Westinghouse WX 50 3/4 +1 3/8 228,700
Weyerhaeuser WY 24 3/4 +l/2 311,700
Xerox XRX 53 5/8 +1 1/8 292,200
Zayer ZY 20 3/4 -3/8 366,700
STOCK SYMBOL WEEKLY
CHANGE
American Oil and Gas AOG -1/8
Angeles Corp ANG -1/8
Charter Medical "A" CMDA +36 5/8
Charter Medical "B" CMDB -36 3/8
CMX Corp CXC +7/8
Crown Crafts CRW +l/4
Ecogen Inc ECN -4 7/8
Koger Properties KGR +l/4
Pre Paid Legal Services PPD +3/8
USA Cases USF +8 3/4
STOCK SYMBOL LAST PRICE VOLUME
BID ASK
Atlantic Southeast Airway ASAI 8 3/8 8 1/2 4,700
Bank South BKSO 11 7/8 12 3,300
Cascade Corp CASC 19 191/4 300
Citizens & Southern CSOU 26 26 1/8 34,100
Liberty Federal Banks FLFC 11 12 200
Kinder Care KNDR 8 3/8 8 1/2 47.800
MIC Comm MCIC 165/8 1 6 3/4 1,976,700
Park Comm PARC 27 3/4 28 1/2 300
Restaurant Mgm RESM 10 101/4 5,400
Ryans Steak RYAN 5 1/2 5 5/8 49.600
STOCK SYMBOL CLOSE CHANGE
Dow Jones Industrials INDU 2054.59 52.28
Dow Jones Utilities UTIL 180.65 3.32
Dow Jones Transportations TRAN 857.23 18.22
New York Composite NYSI 149.66 2.98
American Composite AMSI 295.62 2.44
NASDAQ IXO 342.93 6.49
S&PSOO SPX 264.48 6.13
London Gold ZQL 428.75 1.65
New York Silver XYN.MA 7158 15000
Dave Ellis
Stock Market Analyst
— 'J
enlly cooled for now. This news
gave a tremendous boost to the
bond market. That index was up 2
3/4 points and sent yields on the 30
year treasury bond down from
9.45% to 9.13%.
At this time, do not see another
discount rate or prime rate hike near
term. But, don't see any monetary
easing either. The FED is not
likely to respond to just 1 month's
report as part of the employment
report is faulty due to seasonal ad
justments. Look for continued
strong earnings reports as we move
into the 4th quarter, and, hopefully,
a stock market that will wake up.
Dave Ellis is a Register
Representative with IM&R, an
affiliate of Raymond James, a New
York Stock Exchange firm with
offices in Perry and Warner Robins.
THE HOUSTON HOME JOURNAL. SATURDAY SEPTEMBER 3, 1988
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Perry-area business / industry news
cW— . ...... . - .
Moss serves for almost 20 years;
says owning store has advantages
By MELODY BACAS
Staff Writer
Pharmacist Bill Moss said he
knew he wanted to stay in the
pharmacy field ever since his in
ternship almost 20 years ago.
"I guess it kind of gets in your
blood," Moss said.
Moss now owns his own store,
called Moss Pharmacy.
Moss Pharmacy has many ser
vices other drug stores don't, Moss
said.
Tm more of an apothecary,"
Moss said. "We compose a lot of
medicine. If a doctor wants certain
medication that we don't have, we'll
make it."
Two instances where that helps
customers is when hospices need
valium suppositories or a parent
needs a penicillin suppository for a
child throwing up.
Neither can be found through
warehouse distribution, Moss said.
Moss said one of the busiest
times is during peak flu season, but
Bonds help
defray taxes
due in April
During the past few months
there has been much discussion on
taxes and how they may be affected
by the outcome of the coming
election.
One candidate says he will not
raise taxes and will work for a re
turn of the favorable capital gains
tax (which affects the sale of capital
assets). The other candidate says he
may pursue tax increases to support
more programs and presumably to
help balance the budget.
Regardless of who gets elected,
one thing is clear. Many Americans
are still very much concerned about
the amount of taxes they pay. And
with all the changes in our new tax
structure brought on by the Tax
Reform Act of 1986, there are very
few tax shelters left.
One very popular way to reduce
federal income taxes is to invest in
tax-free municipal bonds. These are
not to be confused with U.S. Gov
ernment Savings Bonds (E and EE
Bonds) which accumulate interest
on a tax-delayed basis only.
Municipal bonds are issued by
state and local governments and
their agencies or political subdivi
sions to raise money to finance the
construction of such projects as
hospitals, highways, schools, pol
lution control, etc.
Because state taxing authorities
allow holders of federally issued
bonds and notes to be free from
state income taxes, the federal gov
ernment, through reciprocity, al
lows interest from municipal bonds
to be free from federal income tax
(which is by far the largest amount
of all income taxes we pay).
But are tax free bonds a good in
vestment for everybody? And how
does one know if he will benefit
from owning tax free bonds?
SISTER ROGERS~
327 E. Main (912) 825-3771
Fort Vallay, Qa. 31030
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Drive off with A Bargain in the
Classified Section.
The Houston
Home Journal
ssLim I
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FIBERGLASS ~
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he works 60 lo 70 hours a week
even in the slower times as a drug
consultant to Perry's two nursing
homes.
"It's not hard work but it's a lot
of responsibility because you have
to make sure they're complying
with slate and federal laws," Moss
said.
Moss, an 18-year Perry resident,
started the pharmacy on Morning
side Drive in 1976 with a partner.
He bought his partner out in 1981.
He worked his internship with
independent pharmacies. Moss
worked for Lee Drugs in Columbus
and for Elliott Drugs in the Piggly
Wiggly shopping center in Perry
for six years, eventually becoming
a supervisor.
Moss decided to go into busi
ness for himself when Elliott
started having financial problems,
Hours are 8:30 a.m. to 6 p.m.
weekdays and 8:30 a.m to noon on
Saturdays.
Eric Jansson
HHJ Financial Columnist
After all, municipal tax-free
bonds usually pay lower rates of
interest than taxable bonds simply
because they are tax free.
Some folks tell me they just
enjoy owning investments that they
do not have to pay taxes on. But
others really want lo compare and
see if they're better off investing in
tax free bonds or higher yielding,
taxable investments.
To determine what the "tax
equivalent" yield of a municipal
tax-free bond would be, one must
first determine the bracket at which
he will be taxed. To help answer
this question, I have provided a
chart to demonstrate the difference
between a tax-free yield and a tax
able yield.
You may want to save the chart
for your financial file as a future
reference. However, as often as our
tax laws have been changing in re
cent years, this chart may soon be
obsolete.
Use this chart to help determine
whether tax-free municipal bonds
might be an appropriate investment
for you.
As with most types of bonds,
there are certain risks that should be
considered. So always consult your
investment advisor before invest
ing.
Eric Jansson is a broker with
IM&R; an affiliate of Raymond
James, a New York Stock Ex
change firm with an office in Perry
and Warner Robins.
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Bill Moss sits at his computer where he does his work
...Moss pharmacy has been around since 1976
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Customers with hearing impairments may choose from a wide
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All telephone users are considered valued customers at GTE.
SB
* h
Moiu to ‘Enhance
‘four Marriage
to *
V *
Join us for this special lecture
on September 15 at 7:00 p.m.
Our speaker will be
Ms. Bonnie Boyce, M.L.S.
of Charter Lake Hospital.
** Admission is FREE.
* >
M CHARTER LAKE ’
▼ COUNSELING CENTER “
PERRY
* %
9068 Commerce Street • Perry, Georgia 31069
912/987-7848
* * *
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