Reno Gazette-Journal from Reno, Nevada • Page 35

Reno Gazette-Journal Sunday, February 26, 1995 3E 1 Go right to source for Standard Poor's Index Vegas outlet mall is out of this world the first day of each year. here can I find a list of the 10 highest yielding Dow stocks? Do you think this system actually works? D. Shreveport, La. Shopping in Las Vegas is a dream come true. Not only will you sec the finest shops in the world represented a la The Forum Shops at Caesars (last week's column), but the discount shopping in other parts of the city is worth writing home about.

If you venture south on the Las Vegas Strip (Las Vegas Boulevard), Belz Factory Outlet World is only a few minutes away. Housed in 250,000 square feet of Southwcst-mccts-Art Deco styling, on the southeast corner of Las Vegas Boulevard and Warm Springs Road, the 1 5-month old mall boasts 72 top-line manufacturers. Well-known celebrities such as Corning, Oneida, Adolfo, Van Hcuscn, Pfaltzgraff, Levi, Nike, Oskkosh B'Gosh, SpringmaidWamsutta and Hush Puppies rub shoulders with Carters Childrcnswear, G.H. Bass, Swank, Boston Trader, County Seat, Sbarro and Stride Rite. Belz Factory Outlet World was developed by Belz Enterprises, a Tennessee-based real estate development company that owns four other factory outlet malls, including, my dears, an Outlet World in Orlando second only to Walt Disney World as the largest tourist attaction in the area (700,000 square feet).

These people clearly know how to create outstanding outlet malls. "Our Las Vegas mall is one of Where 1 1 can I obtain information about the Standard Poor's 500 Index? I want to measure the performance of my own portfolio against the rest of the market. I.G., Warner Robins, Ga. A It is best to go straight to the source. Among its many publications and services, Standard Poor's (25 Broadway, New York, N.Y.

1 0004-1 064) offers directory and information search services for the 500. The 500 Annual Directory is a 500-page comprehensive guide that includes a background on the index and a description of its methodology. It provides profiles of 500 companies, information about market events of the previous year, historical and statistical tables and much more. The 1 995 edition will be published in August and costs $39.95. Current-year statistics for the 500 Index are provided in the monthly 500 Information Bulletin ($25 per issue).

Both the directory and the bulletin should be at your library. Standard Poor's also offers Central Inquiry, a fee-based financial information service that uses computerized and published resources from the Business Information Center. Fees are based on the amount of information requested. The Federal Reserve produces Annual Statistical Digest, a monthly publication containing historical figures for the 500 Index. It costs $25 per issue.

To order a copy, write to the Board of Governors of the Federal Reserve System, Publications Services (Mail Stop 127, Washington, D.C. 20551). This publication should also be at your local library. QI have read about a system for making money in the stock market where you buy the 10 highest yielding Dow stocks on uffll JAY GOLDINGER (for San Francisco aficionados) exquisite jewelry with sterling, Baccarat crystal, Fitz Floyd, Royal Doulton, Hummel, Spode, and Wcdgewood available through their color catalog. Prestige Fragrance Cosmetics offers real Armani, Giorgio, Givenchy, Halston, Lagerfeld, Ralph Lauren and Estee Lauder products at 30 to 50 percent off.

Who's afraid of Elizabeth Taylor's "White Diamonds" at $35? I was also surprised to see top-end cosmetics by Alexandra de Markoff and Elizabeth Arden. An outstanding clothing store is Designer Labels for Less. The name says it all. Labels like Karen Kane, MonteFino, Saint Germain, David Dart and my favorite suit designers, Paul Stanley and Harve Bernard, are offered at startingly low prices (Bernard suits were $80 the day of my visit). It was a religious experience that brought tears to, yes, even the eyes of a shopping sleuth like me).

The prices on elegant lingerie by Christian Dior and Lily of France were enough to lure me out of my cotton Carters. Publishers Warehouse has close-outs of classical and opera tapes (three for 1 0) and CDs Impressive "coffee table books" are $5 to $10, and first-rate photo calendars run $2.99 to $5.99. Other quick takes are the soft checks first. Say, for example, that you write one big check and three small ones. But due to an error, you don't have the funds to cover them all.

If the small checks are debited first, only one check (the big one) might bounce. If the big check is debited first, however, it might cause all three little ones to bounce, tripling the DIR fee you owe. Haberfeld says that this is actually a service to customers, because big checks, like your mortgage, are more important. On the other hand, you might not be happy paying $15 each on three returned checks. Even if your bank charges no DIRs today, it might start tomorrow.

Haberfeld's advice to banking clients is to offer "free" checking, then charge for every service. He also thinks they should honor bad checks and charge a fee for collecting the money (that's a fee you might be willing to pay). For a lower-cost checking account, see if you're eligible to join a credit DIR is most hated bank fee in America A The Dow dividend theory is a method in which you invest equal amounts of money in the top 1 0 yielding stocks in the Dow Jones Industrial Average on Jan. I of each year. At year-end, you would make adjustments to the portfolio so you can purchase a "new" top 1 0 on Jan.

1 of the following year. You can find a list of the Dow Jones Industrials in major daily newspapers, The Wall Street Journal and Barron's. I contacted Geraldine Weiss, editor of Investment Quality Trends (7440 Girard Suite 4, La Jolla, Calif. 92037), a twice monthly newsletter that follows 350 "blue chip" stocks with a history of increasing dividend payments. She is also the author of "The Dividend Connection" (Dearborn Financial Publishing, 1 55 N.

Wacker Drive, Chicago, 111.60606-1719). Weiss is somewhat skeptical of the system because it is such a simple approach to stock analysis. She believes investors need to understand what is behind the stock dividend figures before investing. This stock research should include an analysis of the financial statements of the companies, a study of the historical yield profile of the stocks as well as an evaluation of overall stock quality. One may not be able to argue with history, however.

While it is a very simple investment approach, it has worked in the past. Using this system, the average annual total return for this stock group for the 20-year period ending January 1993 was 1 6. 1 percent per year compared to 10.9 percent for the entire Dow. Remember, as with any investment, past performance is no guarantee of future results. Jay Goldinger is chief investment strategist for Capital Insight Inc.

and author of "Keys to Investing in Government Securities." For a personal reply to your questions, please limit your question(s) to one printed or typewritten page. Send to: Jay Goldinger, P.O. Box 4092, Beverly Hills, Calif. 9021 3. Be sure to include your telephone number.

of the 10 largest banks and J- JO ANNA PHILIPS the top 20 outlet malls in America, in terms of sales," said Gloria Coates, Belz director of promotions. "Our focus is apparel, but we also have housewares, fragrances, jewelry, etcetera." Unlike other outlet malls I've been to, Belz Factory Outlet World has stores and items not usually seen in this setting. The Jewelers has a dizzying array of watches (20 to 30 percent off retail) and fine jewelry (25 to 40 percent off). Ross Simons fine jewelry, tableware, and collectibles is like a small Gump's fraud, the total cost might come to around $2.70, says Janice Shields, a researcher for the Center for the Study of Responsive Law. Banks say that bounced-check fees should be high to deter you from overdrawing your account.

But there's no proof that higher fees reduce the portion of bad checks, Shields says. And even if it's OK to punish the baddies, why punish the innocent, too? The simple answer is that you're stuck with what the bank decides. Anyone who needs a checking account has to put up with DIRs. "You try and set prices based upon what the market will bear," Kevin McKenney, a vice president in the Indiana division of the Detroit-based NBD Bank, told my associate, Louise Nameth. David Westhoff, senior vice president of First of America in Kalamazoo, says "the income is extremely important to banks." First of America will start imposing a $4 DIR on individual accounts this spring.

Westhoff adds that anyone who gets stuck with a DIR should collect the cost from the person who gave them the bad check in the first place. For many banks, bounced checks have become a significant source of profit. In fact, they should love their careless customers, for the revenues they produce, says checking-account consultant Ralph Haberfeld of Haberfeld Associates in Lincoln, Neb. Haberfeld tells banks that they can generate more bounced checks by debiting customers' biggest II central air conditioning 3380 our office. 4 Mary Holman CCIM.

CRS Broker woven leather boots 50) at Unisa Shoes, the Revereware at Corning, the terrific shades at Sun Glass Hut (Serengeti, Ray Ban at 1 0 to 70 percent off), and the fantastic values on Wearever and Farberware at Famous Brands Housewares. The Food Court plays a medley of dining tunes. The outlet shopping in Las Vegas alone is worth a trip. Let your mate duke it out with the one-arm bandits on The Strip. Get thee to the outlet malls (There is another outlet mall down the road, which I did not get to on this trip.

Another column on that later.) The good news from Belz is that in summer 1 996, the mall will double its size, adding 64 more factory outlets and another food court. I don't know about you, but I'll be there with Belz on Belz Factory Outlet World, 7400 Us Vegas Las Vegas; (702) 896-5599. CORRECTION: George Skivof ilkas is the chef at the Country Garden Restaurant in Arlington Gardens. The restaurant is closed for remodeling and is expected to reopen in April. Jo Anna Philips is a free-lance writer living in Reno.

Have a question about shopping in Reno-Sparks? Write: Shopping Around, Reno Gazette-Journal, P.O. Box 22,000, Reno, Nev. 89520; or fax: 788-6458. union. Their fees, overall, are generally lower than those charged by banks and thrifts.

If you're hit with a DIR, call your bank and ask it to erase the charge. McKenney says his bank often waives the fee for good customers who complain. The more people complain, the more likely the bank is to rethink, especially if the bank is small. In a recent survey of bank fees, the Bank Rate Monitor found two institutions that had decided to reduce or eliminate DIRs. Chicago attorney Patrick Quinn, who just finished a term as state treasurer of Illinois, wrote a letter to all banks in his state last year, urging them to abandon DIRs voluntarily.

"If you accept a check in good faith, you shouldn't be victimized," he says. Amen. Write Jane Bryant Quinn, Washington Post Writer's Group, 1150 15th St. NW, Washington, D.C. 20071 Home Phone and office of your Financial Consultant: By Jane Bryant Quinn GAZETTE-JOURNAL What's the single most hated bank fee in America? I'd guess it's the fee known in bank parlance as "deposit item returned" (DIR) and in English as something unprintable.

You may pay a DIR when you get a check, deposit it, then learn it bounced. You're entirely blameless; you had no idea that the check wouldn't clear. Nevertheless, the bank nicks you for an average of $4.75 to $7.50, with some banks going as high as $10 (large banks charge more than small ones). Five years ago, some two-thirds of the banks were charging DIRs on individual accounts, according to the American Bankers Association. Although it no longer counts the banks, it assumes the percentage is much higher now.

In most cases, the checks aren't truly bad. The writer just made a math mistake, or forgot to enter past checks, or thought his paycheck would clear faster than it did. When the check is resubmitted, it's usually good. Still, the innocent party pays. The guilty party pays too, of course.

When you bounce a check, you're currently charged an average of $15 to $19.50, the ABA reports. Individual banks are charging up to $30. These prices have nothing to do with the bank's cost of handling these checks, which the Bank Administration Institute has put at $1.32 per check. After losses from Por tr. i its Money scoreboard pife igtllMgiiill (kit Bank Rate Monitor's survey of the 10 largest banks and in the 10 largest metro areas.

Mortgages are conventional loans at 80 percent loan-to-value. Car loans are for $9,000, 20 percent down, 48-month, new car. Personal loans are for $3,000 24-month unsecured loan. Mortgages i Others 1 1-year Credit Date 30-year 15-year ARM Car Personal card 022295 8.66 8.26 6.56 9.77 15.84 17.91 Last week 8.73 8.33 6.64 9.81 15.88 17.96 Last year 7.21 6.65 4.18 7.85 15.13 17.66 Certificate of deposit rates have climbed over the past few months, and astute CD buyers are taking advantage by purchasing CDs. We can suggest one more way to increase the advantages of a CD purchase.

Before you buy from your local bank or any other source, call a Merrill Lynch Financial Consultant. Right now, rates on FDIC-insured CDs of banks and thrifts available through Merrill Lynch are higher than the national averages. Bank Rate Monitor's weekly survey In the 10 largest metro areas. Date 022295 Last week Last year MMDA 6-months 2.83 4.94 2.80 4.92 2.29 2.81 1-year 2-12-year 5-year 5.86 6.40 6.83 5.85 6.41 6.84 3.11 3.65 4.68 Money Market Deposit Accounts INVESTMENT OPPORTUNITIES NORTH TRUCKEE LANE TOWNHOUSES $548,000 8 units all 2 stories, 2 bedroom, 1.5 bath. Approx.

973 sq. ft each with covered carport. Gas heat and AGENT: Mary Holman Here are the 15 biggest money-market mutual funds open to individuals with their current seven-day annualized yields. ANNUAL PERCENTAGE TERM INTEREST RATE YIELD (APY) 6 month 5.92 6.01 1 YEAR 6.12 6.16 2 year 6.60 6.60 2555 STREET $690,000 16 unit apartment complex in Sparks. (8) 2 bedroom, 1 bath, (8) 1 bedroom, 1 bath.

Approx. 5760 sq. ft. All units have stove, disposal, and forced air heat. Assumable loan.

AGENT: Danielle Young Please call Premier Properties for more Information and to check out our other listings. 828 0222 Last 6mos. 1995 week ago 5.41 5.38 3.96 5.56 5.53 4.04 5.64 5.62 4.23 5.81 5.79 4.34 5.39 5.38 3.93 5.66 5.61 4.00 5.74 5.67 4.34 5.46 5.47 4.04 5.46 5.43 4.04 5.35 5.30 3.87 5.77 5.74 4.15 5.38 5.39 3.76 5.54 5.49 3.94 5.79 5.76 4.35 5.63 5.71 4.19 5.40 5.43 4.03 3.44 3.31 2.45 Gannett News Service Fund (ranked by size) Merrili Lynch CMA Money Fund Smith Barney Cash PortClass A Fidelity Cash Reserves Vanguard MMRPrime Port Schwab Money Market Fund Dean WitterSears Liquid Assets Fidelity Spartan MMF Merrill Lynch Retir. Res MF Prudential MoneyMart Assets Merrill Lynch Ready Assets Dean WitterActive Assets MT Dreyfus Liquid Assets PaineWebber RMA MFMM Port Schwab Value Advantage Kemper MMFMoney Market Port Avg. taxable money fund Tax-free funds Source: Money Fund Report Dain Bosworth is pleased to announce that The interest rates and the Annual Penentage Xield (APY) art as of 22395 and art suliject to change.

A minimum deposit ofSI.UOO is required. In most costs, early withdrawal may not be permitted; however, CDs can tie liquidated in tire secondary market subject to market conditions. AFY may rrfUxt a current market discount. The distrilmtion of interest is tlerefoie, interest paid will no longer he part of the CD. CDs mty lie issued by outof-slate institutions.

Don't miss this opportunity for attractive yields and the additional advantage of having a Merrill Lynch Financial Consultant help you determine which CDs are right for your financial plan. M.ike a call today to a Merrill Lynch Financial Consultant, or call one of the numbers below. The difference is planning. The difference is Merrill Lynch. Bank Rate Monitor National Index, a.

compile by Bank Rate Monitor Newsletter. 702-688-5700 or 1-800-925-4682 Mail to: Merrill Lynch 245 East Liberty, Suite 100 Reno, NV 89501 Plcnsr tend me more information on CDs. Name AddreM City State 7ip David Quinn Investment Executive Performance and Accountability. The Dain Bosworth Advantage In all, wc offer more than 29 products and services. They include: has joined Utilities Self-Directed IRAs Money Market Funds Btine Phone Merrill Lynch pleaw give the name Growth Stocks Mutual Funds 200 Jmt, i 3 CD's Vice (702) Mark D.

Levy PresidentInvestment Officer 786-6633 (800) 854-0436 5 Dain Bosworth 200 South Virginia Street Reno, Nevada 89501 (702) 786-633 (800) 854-0436 Member NYSE SIPC Merrill Lynch South Virginia Street, Suite 260 vm oneni A tradition of trust. IMM. Mil. IVm town ten Wv MJ MM Member NYSE SIPC 7.