Kossuth County Advance from Algona, Iowa on September 11, 1967 · Page 6
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Kossuth County Advance from Algona, Iowa · Page 6

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Location:
Algona, Iowa
Issue Date:
Monday, September 11, 1967
Page:
Page 6
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RJ.FUNK Plumbing & Heating 119 S. Dodge Alflona, Iowa ,, hon- 29S-3234 The above picture shows a new Behlen Commercial Dryer recently installed at the Elevator Site in Hobarton. The new dryer has a capacity of 563 bu. per hour and is completely automatic. It is equipped with one 20 H.P. heating fan and 15 H.P. cooling fan. This new dryer may be used on heat cycle only, increasing capacity to about 700 bu. per hour. Even though the old dryer is 4 times larger in fixe, and over twice as expensive, it only has about one half the capacity of the New Behlen Dryer. Behlen makes 2 larger commercial dryers — one with a capacity of 1126 bu. per hour and the largest with 1680 bu. per hour. For the latest in drying — SEE — Taylor Implement Co. "Your Grain Drying & Harvesting Headquarters" Phone 295-2467 ALGONA, IOWA Madison, Owner — Algona TOMMORROW? Why not? But, first, check your insurance coverage. Marriage means more responsibilities which need protection. See Lloyd Bohannon at Bohannon Insurance for aid in surveying your future needs. BOHANNON INSURANCE AGENCY 563 Bu. Per How A NEW BEHLEN DRYER AT HOBARTON ELEVATOR O. Whit it th* tot way for a young family man to accumulate a 'goad turn of money ovtr a period of 1$ to 20 y«ar»? A. I think helping to form an investment club is an ideal way for a young family man ito begin to learn investing. In an investment club, you will "learn by doing" and after two or three years you will know if you have the good basic judgment to buUd an investment account on your own. Once you have acquired the necessary know-how, you can develop your own hold- iinigs outside your investment club either by buying stocks on the Monthly Investment Plan (MIP) sponsored by the New York Stock Exchange, or by first accumulating a few hundred dollars in your bank account and then buying stock directly through a broker. [f on the other hand you find you lack the patience or the judgment necessary for sound stock purchases on your own, then you can bo- gin to make payments into a good mutual fund; this too, can lead to financial success. Q. I own some stock in a firm that has gone bankrupt. When, precisely, does the stock become worthless for income tax purposes, and is there any limitation upon the time a person may deduct such a loss? A. Basically, there are two problems involved in claiming a loss on your tax return for a worthless stock. The first is precisely what date itihe TVeasury Department will accept as the time the stock became worthless. The other is When yoju should claim the loss on your tax return. Unfortunately, the Treasury Department provides no cut and dried rule for determining the date upon wttiidh a security becomes Worthless, instead it maintains that it is up to the taxpayer to prove the precise time. Since the Treasury Department does insist that such ^ loss must be claimed within three years, you would probably be better off to claim such a loss on the first indication that you -have that the security, have become worthless. If the Internal Revenue Service does not allow the claim the first year, file it again the ensuing year. Ey that time the IRS may have determined the stock is worthless and will allow the claim. Q. Our small local telephone 'company has been bought by Continental Telephone Corpor- tion and have been buying stock in the phone company for several years and as a conseuence now I have 1,694 of Continental. On our local company, I've been getting about 50 cents a share quar- . terly, but there are rumors that Continental won't be paying nearly that much. What can you tell me? Would you advise selling and buying some other stock? A. Continental Telephone Corporation is the. third- largest telephone holding company in the county. It was formed in 1960 and has had an excellent record of growth. Earnings per share grew from 19 cents in 1960 to $1.07 in 1966. Standard & Poor's estimates 1967 earnings at $1.25. Present dividends are 13 cents quarterly or 52 cents a year. The stock is now selling at around $32 a share. My services do not give the rate at which your shares were exchanged for Continental, but you should know this and be able to figure what you will get in dividends now as against what you got before the company was purchased. While Continental may not continue to grow as fast as it has done in the past, the company would seem to hold the promise of continued good growth. You seem to have a worthwhile investment, and one that*from its record sho-1 uld provide an increasing income for you in the future. Since you have a substantial amount of the stock, you may want to consider the possibility of selling part of it four or five years from now and putting some of t'he proceeds in other securities. A banker or broker could advise you then. 6—Alfotia (l*wa) MONDAY, SEPT, 11, 1967 •LOCALS* Mr. and Mrs. James And«r< son spent Saturday at Ames with the letter's step-mother,' Mrs. O. P. Undholm. Mr. and Mrs. Robert Darbyshire took their daughter Kathy to Cedar Falls Saturday where she is enrolled as a sophomore at the university. They also visited their daughter Connie, a freshman at the Ames university and then went on to Auburn, Neb. for a weekend visit with friends. Mrs. David King had word from her daughter, Mrs. Victor Folkers of Marion that she had fallen from a ladder and broke a leg. She is in a cast from her foot and above the knee a considerable distance. She was hospitalized several days but now is able to get around a little- on crutches. It will be some time before the cast is removed. Mrs. King has been visited by Alice Prince, of DeSmet, S. D. and Edna Halstrom, of Paul- Una. Janice Wagner, recent graduate of the Iowa Beauty School, Des Moines, is now employed at Elva'is Beauty Shop. She is the daughter of the Allen Wagners, Mrs. Esther Barton recently returned from Los Angeles, Calff. and Billings, Montana where she visited relatives. She also was a dinner guest of the late Andrew Norwood's grandson at Inglewood, Calif. She made the trip by plane. The Glenn Segers spent Sunday and Monday at Lake Me- Bride, near Iowa City, where they met their daughters, the Larry Leaneaghs of LaGrange Highlands, 111., and the Roger Wrights of Iowa City. THOMAS FUNERAL CHAPEL Fenton, Iowa Experienced Embalmers and Funeral Directors Reliable 24 Hour Ambulance Service Funeral May Be Referred To Us With Confidence Phones FENTON 119-2796 RINOSTiD 166-1006 §66-1001 •66-1970 It's Posturepedic month FURNITURE 30 NIGHT (and 30 good morning) HOME TRIAL NO HOMING MCMCHI MOM UIIPINC ON « TOO SOfT MATTMSS enjoy a Sealy Posturepedic LIMITED TIME POSTUREPEDIC OFFER! ftegutar *14JI value I POSTURE-PROP IMCIUU MMCIOl ONLY WHEN YOU PURCHASE- ANY SUIV FOSTUREPEDIC SET *r«kti.tlnti,M *to MUM* HM liu, iMt (km A month of good mornings will show you why Posture- pedic is the world's most wanted firm mattress. Designed in cooperation with leading orthopedic surgeons for comfortably firm support. Choose your comfort—extra firm or gently firm. Try it for 30 days; the proof is in the sleeping... and getting up. t TQ95 Twin tr Full El. »c. /57 EXTRA LONG Twin or Full •a. pe. $89.95 QUEEN SIZE •OilO" 2-ac. i.t 9199.96 KING SIZE 71 ill" 3-ac.Mt 9299.95 FURNITURE & WATSON INTERIORS NORTH PHILLIPS STREET PROMPT AND CORRECT WEDDING INVITATIONS AND ANNOUNCEMENTS AT THE ADVANCE! 295-2216 ALOONA ENHANCE THE CHARM AND BEAUTY OP YOUR HOME LANDSCAPE WITH AN OUTDOOR LIGHT. THE ALGONA MUNICIPAL UTILITIES NOW OFFERS YOU THE STYLING OF MODERN CONTEMPORARY OR ANTIQUE COLONIAL POST LIGHTS IN OYSTER WHITE OR CHARCOAL BLACK. THIS 175 WATT MER- iCURY LIGHT OPERATES AT A COST OF 54c PER MONTH. IF YOU WANT A LIGHT THAT OPERATES AT A REASONABLE COST, AND NOT JUST AN ORNAMENT, CALL 295-5523 FOR PRQMPT COURTEOUS SERVICE, N ALGONA MUNICIPAL UTILITIES

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