Arizona Republic from Phoenix, Arizona • Page 43

ALL EDITIONS Phoenix, July 3. lf)71 The Arizona Republic D-l 1 HE ARIZONA 1XF J5HC D0W J0NES INDUSTRIAL AVERAGE Stock market tumbles to low for year inance (hips which helped to down Ihe Dow in Blm weigh riuu itix, July 3, 1071 (Section D) Page 1 appeared lo have a ripple elieel, spreading first into other glamour slocks a then into the rest of the market. In the glamour p. Xerox was down at KlfFi; Kairchild Camera, oil 1' lo 31'h; Control Data. 3" lo 21; Delta Airlines.

3'h lo I.Vx; and Walt Disney, 4'i lo among others. i i i i I I o- 840 1 1 j. --rim 1 24 2S1 (jQ MAY JUNE JULY eluded Du Pont, off 5'h at 159; Kastman Kodak, off al 99-1 and Sears, Roebuck, down 2' al Itl't. On the American Slock Ex change, Synlex a the volume leader, down 2 al WHAT STOCKS Pin The dailv investor Ml YORK (AD A.ssitcialed Press NKW YORK The stock market dropped sharply to a new low for the year Tuesday, with glamour issues in general, and Polaroid Corp. shares in particular, taking the heaviest losses.

The Dow Jones average of industrials tumbled 15.56 to 790.08, its lowest close since last Dec. 5. On that date, in the midst of concern over Ihe energy crisis, the blue-chip indicator finished at a three-year low of 788.31. All the other popular averages sank to 1074 lows. The New York Slock Exchange composite, for instance, lost .91 to 13.92.

its lowest finish since the summer of 1970. Iisers overwhelmed gain -ers 1,138 to 298 among the 1.792 issues traded on the Big Board. NYSK volume picked up somewhat to 13. Hi million, its heaviest, total in more than throe weeks. Polaroid, the day's most-active stock, nose-dived IF lo 24' after a delayed opening, to extend the slide that has carried it lo a small fraction of its peak price of 143 '4 last year.

After Monday's close, Ihe company said earnings per share for the second quarter would be less than 8 cents, compared with 20 cents in Ihe like period last year. Damon which had plunged Monday on a projection of lower yearly earnings, eased another to in active trading. Analysts said Ihe battering of I such institutional favorites on consecutive days If? 10', Baiiseh which lost a suit to block a competitor from entering the Japanese market I soft contact lenses, gave up 2ni to 20ri. Dm line. 11 Unthnngrfl i'iA Iol.il 17" New VI74 high- 0 Now 1974 Monday nili' Adequate income can be arranged By DON C.

CAMPKELL You run ns though the devil himself were behind you snd then suddenly the rnec is over, and whether you finish it with a sense of accomplishment or merely a shortness pf breath is what makes lite interesting and frustrating, liecausc, al retirement, that's (he race we look back on. Question: All of my life. I have been working hard and earning and saving in my own business and have never Dow Jones closing averages Stocks High Low Close Change Industrials 1108.75 73.2.r 700.68 20 Transportation 162.22 157.27 157 3.91 15 Utilities C9.95 68.19 1.8.(1(1 0.39 65 Stocks 213.03 236.62 237.12 151 Standard and Tool's 500 index invested in anything but my own. owever. now na am vears oia and the children are out of college ill Slocks High Low Close Change 125 Industrials 97 53 91.98 95.33 2 01 15 Railroads 30.117 35.33 35.16 0.54 6(1 Utilities 36.23 35 23 35.55 0.19 500 Slocks 86 26 83.98 81 30 1 72 Big Boy chain in slate is sold for $2.7 million JVew York Slock Exchange index dose Change 13 92 0 94 feel thai my wife and I should start slowing down and enjoying other things besides working for the business.

Everything we have is paid for and wp hold approximately in bank CDs. My son is taking over the business in a lew years which will leave me as a consultant with some income. Mother and I enjoy life In its fullest willi our children and our friends, NYSE total volume: 1,1.45 million shares Jamaica postpones talks with 6 aluminum firms Campbell JB's Big Boy Family Restaurants, Salt Lake City-based fast food chain, Tuesday announced purchase of Bob's Restaurants of Arizona. owners of eight Hob's Big Boy Family Restaurants in Arizona. The price was $2.7 million to be paid over five years.

JB's Big Boy is part of the Big Boy franchise system of the Marriott owner ol Camclback Inn. P.ob's Big Boy restaurants have lour units in Phoenix and one each in Scottsdale. Mesa. Flagstaff and Chandler. A ninth is under con struct ion and scheduled to open July 10 in Melrocenler.

JB's Big Boy Restaurants has 51 units. It is licensed to operate in Utah. Idaho, Mon-I a a Washington. South Dakota, Nevada. Nebraska, cw Mexico, New Jersey and parts of Connecticut, Massachusetts and Island.

In New Mexico JB's operates as VIP's Big Boy and in Nevada as Bob's Big Doy, the same as Arizona. JB's had sales of million in the fiscal year ended Sept. 30 and Bob's of Arizona, R8 million in the year ended Dec. 31. Associated Press yoUfSSu- Figurp jt out If you have $10,000.00 earning 5 in a bank or savings and loan rather than earning 10 invested in secure short term real estate loans, you're cheating yourself out of up to $500.

00 every year. Why do that? Through Union Home Loans, you can invest from $1,000.00 to $50,000.00 in Arizona real estate short term trust deeds and start earning 10 on your invested funds immediately! If the loan pays off before maturity, your earnings can go up to 12 or more. Safe? Judge for yourself. Talk with our clientele of private lenders or with our bank. We'd be happy to provide you with names.

Union Home Loans is the largest licensed real estate brokerage firm in the West, having arranged in excess of $250,000.000 00 in trust deed loans in our 24 years of operation. Convenient? Believe it. Our staff of more than 100 professionals handle every thing, including monthly collections and all paperwork. You get a monthly check with full accounting of your investment. MAIL THIS COUPON FOR OUR FREE BROCHURE 10 Union Home loans.

4730 N. Central Phoenin, Aj. Yes. I would like moip inlnrmalmn pn how my money can make money lor nip. NAMF ADDRESS CiTV state ir rnriF C5EMTr-Tr-rJKI Viva Nuevo Townhouses 100 OF YOUR MONTHLY RENT CAN BE APPLIED TO THE 5 DOWN PAYMENT 2 and 3 Bedroom Range OvenDishwasher Pool Sauna Covered Parking Clubhouse Excellent Scottsdolc Location are Aluminum Co.

of America; Alcan Aluminum, of Canada; Reynolds Metals Kaiser Aluminum Chemical Anaconda and Revere Copper Brass, Inc. Brown said the delay was necessary to give the ministry and Ihe Bauxite Omini-sion time to complete research for negotiations. 2IHUKHI acres of bauxite land in Jamaica is owned by Ihe six companies. The government official explained that land negotiations would be different from those involving taxes lie explained Ihe first negotiations were carried out collectively with the companies, and that the land negotiation would be conducted with each company KINGSTON, Jamaica --The government postponed Tuesday negotiations with six North American aluminum companies on ownership of bauxite properly in Jamaica. Garnelt Brown, secretary of the Ministry of Mining and Natural Resources, said talks should begin cither later this month or in August or September.

Xcgoliaiions broke down in May on Ihe amount of lax ihe companies should pay Ihe government lor the right to mine bauxite. Parliament then passed a new Bauxite Act to increase 1he lew on each ton mined from $2.50 to $11.72. Royalties paid to Ihe government were increased from 28 cents to 56 cents per ton mined. The six companies involved. SW Corner Granit Reef Rd, Thomas Rd.

OPEN DAILY 10:00 to PRICED FROM Or call one ol our investment consultants at 248-7881 UNION HOME LOANS Atfilulr l.lnmn Hnmr l.Ofl" Wnst l.e-irimq B'OkCMie Tlim rialtt flr.d we have pretty expensive tastes in our entertainment which is usually short trips for golfing, etc. I have never been able to stay away from our business more than a week, thus the short trips. have enough to worry about without Irving to invest in farm or ranch land, ur some other business, so, in your judgment, what should I do with this much cash on I feel that the time has come to do something. Answer: So do I. You can look back on what you've nr-coniplishod with a sense of satisfaction, and I strongly recommend longer vacations as the first order of business.

No the second order of business. You're right in putting your financial affairs first. You obviously need some diversification and, al the same time you're a little bit Ion young to turn your hack on in vestments that over the next ur 20 years should appreciate enough in value to ollsel what, in all probability, will be a continuation of the inllationary cycle that seems to be locked in. It's admittedly an arbitrary sort of thing, hut I think that I'd keep about $10,000 in the hank in a highly liquid form lor emergencies, put another into a good rated i corporate bonds which, at the moment, should yield you in excess of 3 per cent, and then split the remaining $80,000 between two good, no-load mutual funds that have been in business for at least seven years and that are primarily growth-oriented. Then I would adopt a monthly withdrawal plan from both funds (taking about S200 from each).

Thai would be a conservative withdrawal that shouldn't erode your principal very much in today's weak market and, as the economy Improves, the appreciation in hc value of both funds should more Ihan offset your withdrawals. Between the bonds and the funds you shmild realize an annual yield of close to $8,000 which, since it isn't going to be your only source of income, should be adequate. And now, the second order of business: Have fun. In l(! I invested rather heavily in a closed-end company. I bought it lor 22 and it was then yielding a fabulous 18 per cent dividend, payable annually or in additional shaics.

To be sure, I took the cash dividend, which has now vanished. The price has skidded to about I realize thai all mutual funds have declined in the past couple of years, but can you give me any crystal-ball predictions as to the lulure of closed-end funds? Unlike conventional mutual funds which, by law, have to redeem their shares at their net asset value, Ihe closed-end funds are bought and sold in the same way any stock is. As a result, they're doubly sensitive to market psychology end right now they've been hit by a double whammy: A weak stock market and a sour public altitude toward them. Practically all of them are selling at such sharp discounts from their net asset value that 1 can't help feeling that many of them are excellent buys for the investor with a good set of nerves. Questions for Campbell should be sent In United Feature Syndicate.

220 E. I'Jinl New York City I0III7. 947-3581 Model 946-5669 R-3 SCOTTSDALE 10.86 ACRES MUST BE SOLD Should Yield 134 Townchouse Sites $17,500 per acre CALL CLAUDE MURRAY (Eves, and Sunday 264-1007) Ross Lyon Realty 6750 E. Camclback Rd. 947-6321 Sears Snip start rr.

JnU 3 n) Sal. JilU h. V'lnprii. Mr ttn, Sfollsrlslr Pavrwnt Plan Dept. Pltoiu': Pliot-iin 2hH-1201 Mrlro ift.Vt'M.t Be careful with fire: There are babes in the woods And those kiln uniir.ak trees need a pl.uTu here they can jrnw up Mtouq and healthy.

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