Arizona Daily Star from Tucson, Arizona • Page 46

Page Fourteen Section Tucson, Thursday, March 12, 1987 Arizona Bail" Star GEA1H FUTURES 5,000 bu minimum; Mars per bushel i via. i i6 I'm i mi. 4. nm CHICAGO (API migres iraoins on ine Chicago Board of Trade Open High Low Settle Chg. WHEAT 5,000 bu minimum; Mars per bushel Mar 2.96 2.96 2.93 2.97'A .00 Tax changes lead to adjustment iSaSi in break-even point for itemizing in Washington I Bw Dinah Wisenhern By Dinah Wisenberg May 1.3M 1.34 1.3OT U3 t.lK'A 1.24V4 1.28 1.24 1.27 UM 1.22V4 1.24V4 .02 1W 111 150 13! .02 Jul Sep Dec May 2.M 2.85 t.OO'A im UWi 2.63 Wflk 2.6 2.64' 2.62Vi 2.63'! IWh IMt 2.6SV4 2.70V4 2.69 2.70V4 2.69 VWt Jul Sep Dec sales 1,934.

Tue 's open Inl 6,759, oH 217. SOYBEANS 5,000 bu minimum; delars per bushel Mar mar 4.nJ t.wv Mar u.5 ii.va imu u.w .1 May 16.14 16.25 16.08 16.16 .10 Jul 16.46 16.57 16.42 16.46 .10 Aug 16.53 16.67 16.50 16.54 .11 Sep 16.63 16.74 16.60 16.65 .14 Oct 16.62 16.78 16.62 16.70 .12 1 Dec 16.80 16.96 16.80 16.80 .05 Jan 16.90 17.00 16.80 16.80 .05 sales 13,414. open Inl 74,853, oH 2,000. SOYBEANMEAL 100 tons; dollars Per ton Mar 139.50 140.30 139.10 40.00 .30 May 137 00 137.50 136.80 137 40 0 Jul 136.00 136.20 135.70 136.00 Aug 135.70 136.00 135.70 136.00 Sep 135.70 136 00 135.50 135.50 Oct 134.80 135.50 134.80 135.20 0 Dec 135.50 13600 135.30 136.00 Jan 137 00 137.00 136.50 136.60 Mar 138.00 138.00 138.00 138.00 .30 sales 8,739. open inl 67,851, up 338.

By A.J. Cook lue sales 6,290. open inl 29,356, up 1,065. CORN 5,000 bu minimum; Mars per bushel Mar l.S3!'i 1.55 1.52Vi 1.55 .00 May Jul Sep Nov Jan Mar 4.8BV1 4.90 4.88 4.8'1 4.86V4 t.tV2 4.85V1 4.86 4.83'zi 4.85 4.83W 4.84 .01 4.75 4.77 4.75 4.76'i 4.73'i 4.75V1 4.73 4.74 .00 4.80 4.81 4.80 4.81 4 86'i 4.88 4.8614 4.88 MIA 4 01 IWh IWh 1.56V 1.56 1.55 1.56 .00 1.59'i l.M'.l 1.59 1.601 .01 1.64V4 l.M 1.63V 1.64 1.73 1.74 1,71 1.74 1.IM 1.81 1.79 1.81 Wk 1.83 l.B3V 1.81V 1.83 May Jul Sep Dec Mar May May Inflation has pushed many an unhappy taxpayer into a higher bracket over the last few years. Congress has been unable to do anything about inflation, but has applied ointment to itchy bracket creep.

This year the upper and Taitn Tips0 from court rulings sales open inl 73,588, up 1,116. SOYBEAN OIL 60,000 lbs; dollars per 100 lbs. sales 27,391. open inl 133,208, up 253. LIVESTOCK Jan 63.50 63.65 63.50 63.65 Est.

sales 1,478. sales 1,819. open inl 16,128, up 67. HOGS 30,000 cents per lb. Apr 44.65 45.05 44.52 44.60 Jun 46.65 46.90 46.40 46.57 39.50-41.50; U.S.

1-3 500-650 lbs 42.50-43.00. CHICAGO (API Futures trading on the Chicago Mercantile Exchange Open High Low Settle Chg. ram Jul 40,000 cents per lb. .03 urn uin no AIM Apr Aug Ocl Dec Feb 46.00 46.ZU 45U 43.25 43.37 43.20 43.35 38.75 38.95 38.62 38.65 39.00 39.10 38.75 38.82 38.90 39.00 38.70 38.75 36.72 36.72 36 60 36.70 38.25 38.25 38.25 38,25 61.00 61.10 60.37 60.42 58.15 58.30 57.65 57.67 57.60 57.60 57.15 57.25 57.50 57.65 57.30 57.45 57.30 57.35 56.95 56.95 Jun Aug Oct Dec Feb Apr PHOENIX tAPHUSDA) Trading In the Arizona feedlot area was slow lale Tuesday, early yesterday. Slaughter steers firm.

No sales heifers reported. Fair Interest and inquiry. Week to dale tola): 7600. Volume of confirmed sales movesd 57 percent local, balance to West Coasl. Slaughter steers: Confirmed: 2300: 1100 Good, end choice 2-3 10-30 percent choice 1000-1050 lbs.

63.00 Good, end choice 2-3 10-20 percent choice 975-1100 lbs. 62.00-62.50; Mostly good 2-3 1050 lbs. 61.00. Fob feedlot net weight after 4 percent shrink, current delivery. OMAHA, Neb.

(AP) (USDA) Omaha Livestock Market quotations yesterday: Hogs: 1800; barrows and gills firm to 5 higher, fairly active trading; U.S. 1-3S 220-250 lbs 46.50-48.50; sows, under 500 lbs steady to 50 higher, over 500 lbs steady: U.S. l-2s 3S0-4M Apr Jun Tua Mips 7.903 Tiia't cube nm open inl 30,017, up 403. PORK BELLIES 40,000 cents per Mar 65.20 65.60 64.55 65.05 open inl 89,213, off 409. FEEDER CATTLE 44,000 cents per lb.

war e.uu 0.U3 00.05 w.tra Aor May Jul Aug Feb 6300 63.60 MM 63.30 63.60 62.80 63.22 60.95 61.00 60.45 60.85 55.60 55.60 55.30 55.35 55.20 55.20 55.20 55.20 66.00 66.00 65.20 4MZ 65.00 65.00 64.30 64.32 63.90 64.00 63.40 63.42 63.45 63.45 63.10 63.10 63.35 63.35 62.95 62.95 63.60 63 65 612! Mar May Aug Sep Ocl Nov sales 3,976. open Int 10,242, up 85. 38.50-39.00; few' '450-500 lbs lbs FOREIGN EXCHANGE 143.25 Nunzio Lombardo and several friends owned 19 acres in Scranton, N.C. property that was raided by the state Bureau of Investigation. In addition to things like rubber rafts and motor vehicles, the state agency seized 14 tons of marijuana.

After the raid, Nunzio pleaded guilty to felonious sale and delivery of marijuana and got five years' probation. His plea bargain called for Nunzio to contribute $145,000 to the Hyde County School Fund. Nunzio, not being one to let grass grow under his feet, promptly took a charitable deduction for the money he gave the school. The IRS was less than receptive. The Tax Court judge ruled it would "strain our credulity to the breaking point to conclude (Nunzio's) contributions proceeded even remotely from a charitable impulse." Unless a gift is given for the satisfaction of doing a good deed, the donation is non-deductible.

In this case, the judge ruled, Nunzio's only satisfaction came from staying out of jail. THE MORAL: Freely ye receive, freely give or pay the taxes. For 50 years before she was murdered, Beulah Isa-belle Nettles of Florida was a prostitute a fact her sister Aggie Mizell admitted. Upon opening Nettles' safe deposit boxes and checking her bank accounts, Aggie discovered her sister's worth in real estate, jewelry and money was more than half a million dollars. We want our cut, the IRS said, claiming the adventuress didn't report $445,852 in income from her professional services.

Mizell told the Tax Court judge she didn't dis- pute her sister's guilt in hiding her less than savory' income from the IRS. What she did dispute was the amount the government wanted to take. The judge considered the income Nettles did report and reduced the amount the IRS wanted by nearly half. Then he assessed fraud penalties on the lower amount. THE MORAL: The evil that men do lives after them in their inheritance taxes.

A.J. Cook, author of the new tax planning book "A.J.'s Tax Court," is a CPA and a partner in the Memphis, law firm. His columns run in the Star's Money secction on Tuesdays, Thursdays and Sundays until April 15. .2196 .2207 4.5530 4.5315 States News Service WASHINGTON The controversy over maquiladoras returned to Capitol Hill yesterday, when political, business and labor leaders argued the pros and cons before the Congressional Border Caucus. Five border area officials told the -caucus that maquiladoras also called maquilas or "twin plants," in which Mexican workers assemble products cheaply for U.S.

manufacturers create thousands of jobs in Mexico and the United States. The plants also help America compete in world markets, keep U.S. companies from moving their operations to the Pacific Rim and improve the Mexican economy, said the officials, who represented the Border Trade Alliance. The alliance is made up of American communities along the U.S.-Mexican border. But Doug Meyer of the International Brotherhood of Electrical Workers challenged the notion that maquiladoras create or maintain jobs in U.S.

factories that ship raw materials to the Mexican plants. The U.S. plants are mostly "warehouses and shipping centers employing just a few workers," he said. San Diego County Supervisor-Susan Golding provided figures that she said illustrate how the plants improve the economies of American border towns. The tax base of Nogales, for example, increased by $12 million last year because of twin plants nearby, she said.

More than 1,000 jobs in San Diego are related directly to the 388 maquiladoras in Baja California, Golding said. The plants also generated more than $88 million in spending in that city last year, she said. A University of Texas at El Paso professor said maquiladoras support 320,000 jobs in the American Midwest, more than 100,000 on the East Coast and 70,000 in border states. That includes more than 18,500 in Texas alone, he said. .2666 .2667 3.7507 3,7490 .4650 .4666 2.1505 2.1433 .001210.001210 856.30 856.30 .4772 .4813 2.095602.07770 .007657.007699 130.60 129.89 NEW YORK (APT" change, New York prices.

Rales for trades of II Imum. Fgn. currency in dollars Wed Tue. .1615 .0074 .1282 .0774 .1616 6.1925 6.1875 .0074 136.60 135.25 .1281 7.8025 7.8035 .0773 12.9200 12.9400 Foreign Ex-million mln- DoHar In fgn. currency Wed.

Tue. 1.5340 1.5340 1.4539 1.4710 13.13 13.02 .1544 .1542 6.4rc 6.48J3 .000608 .000608 1643.50 1643.50 f-Ecuadr Finland France Greece Hong Kong y-lndia Indnsia Ireland Israel Italy 'Japan 30-dav fl 60-day fl 90-day fl Jordan .6519 .6519 .6378 1.5630 1.5680 .6390 1.5603 1.5649 .6402 1.5569 1.5619 .6415 1.5537 1.5588 .0287 34.81 34.81 .6398 .6409 .6423 .6436 .0287 .6798 Saudi Arab Singapore So. Korea So. Africa Spain Sweden Switzerlnd 30-dav ful 60-dav fut 90-day lul Taiwan Turkey U.A.E. z-Uruguay z-Venzuel W.

Grmny 30-dav fut 60-dav ful 90-day fut lower limits of the tax brackets have been increased and the exemption amount has been upped to $1,080. The break-even point the dollar figure that tells you whether to itemize your return has been boosted, too. Singles should take the standard deduction if their itemized deductions are less than $2,480. For joint returns the magic number is $3,670. Car expenses are good tax-saving vehicles.

But the rules on deducting these car expenses are enough to drive anyone crazy. They change lanes faster than a teen-ager on the interstate. Here are the highlights and stoplights: Per mile deductions for business use are up to 21 cents for the fist 15,000 miles and 11 cents for each mile on down the road. If you feel truly adventuresome and want to explore other avenues, you can use another method: Deduct a part of what the car cost and part of what you actually spent keeping the car going. This will require complicated computations and detailed records.

Those extra miles you drive for volunteer work will earn you 12 cents per mile as a deduction. Transportation for medical care is also deductible, but you get only 9 cents a mile and must treat it as a medical expense. With medical care and charity volunteer work, you can deduct gas and oil instead of the standard amount. But you cannot deduct the maintenance, insurance or depreciation that business people can. Before 1985, divorced or separated parents not only had fights over custody of the children but over custody of the tax exemption for them.

The usual winner in the exemption fight was the parent who could prove he or she paid over half the child's support. For 1986, the exemption goes to the parent who has actual custody of the child. The exception is when a divorce court or legal agreement assigns the exemption to the non-custodial parent. THE MORAL: With the luck of the Irish, you can cut taxes. .6878 .0762 .0258 .0256 .0768 .0260 .001294 .001294 773.05 773.05 38.73 39.03 1.4360 1.4425 .6964 .6932 .6163 .6213 1.6225 1.6095 .000756.000757 1322.25 1321.00 .006508.006499 153.65 153.87 .006520.006510 153.38 153.61 .006533,006521 153.07 153.35 .006547.006534 152.75 153.05 2.9499 2.9499 .33900 .33900 3.6056 3.6058 .27735 .27730 .00962 .00962 10400.00 10400.00 .2723 .2724 3.623 J.6IJ .0258 .0502 23.99 .0490 38.48 38.78 19.91 .6301 .6324 .6340 .6357 .0053 188.5 188.3 .0447 22.5400 22.3700 5378 1 MS 1.8595 .0053 .0444 .5369 1.5883 1.5870 1.5834 1.5814 1.5790 1.5772 1.5747 1.5730 ,6296 .6316 .6333 .6350 Kuwait .5390 1.8583 1.8552 .5381 f-Argent Australia Auslria c-Belgium f-Belgium Brazil Britain 30-day ful 60-davful 90-day ful Canada 30-day ful 60-dav fut 90-day ful y-Chile Colombia Denmark c-EgypI Lebnn .5400 1.8544 1.851 .5393 .5404 .7557 .7495 Nelhrlnds .5412 1.8504 1.64V .001929 .001929 518.43 518.43 Yugsiavia I nip orirpt at of 3 .30 nm Eastern time ,000931 .000937 1074.00 1067.00 .4748 .4763 2.1060 2.0995 .5670 .5657 1.7637 1.7677 .1431 .1434 6.9875 6.9720 .0580 .0580 17.25 17.25 .0688 .0688 14.53 14.53 .0500 .0500 20.0000 20.0200 .007013.007070 142.60 141.45 1,3232 1.3342 1.3239 1,3385 1.3249 1.3420 1.3259 1.3458 207.99 207.99 226.25 226.25 7.0010 6.9760 1.3800 1.3800 .7553 .7548 .7542 .0048 .0044 .1428 .7246 N.

Zealand Norway Pakistan y-Peru Z-Philpins Portugal as gathered bv Firsl American Bank of New York, c-commerclal rale, (-financial rate, y-official rale, z-floaling rale, r-revised. "is? DIVIDENDS WEDNESDAY DIVIDENDS DECLARED Per- slk.of. Pav-iod rate record able IRREGULAR LordAbbCalTxFr .062 MerrillLynFdTomr .78 x-includes capilal gains of .73. x-1 common slock right lor each share, subieel lo approval, pav dale unannounced. 4-15 4-30 x-2 for 1 split subject lo shareholders approval.

Hovnanlan Enlprs 3-23 4-13 x-2 for I split. Newmonl Mining 3-20 4-9 x-1 share of Magma Copper for each share held. Sumitomo Bk Cal 7.5pc 3-31 4-27 NewsCpLldADSn .0346 4-2 5-14 -x-approx amount, TeneraLP .17 3-31 x-pay dale on or about 4-15. Visual Graphics A .0825 3-23 4-3 x-companv plans lo pay this amount quarterly, FINAL Harmony Gold ADR .379 3-27 5-15 x-approx amount. Tl Group ADR .177 3-19 6-15 x-approx amount.

OMITTED Grubb 8. Ellis Co 4-15 4-15 3- 12 3-20 4- 17 5-6 5- 15 6-4 PMI Fund PMI Fund PMI Fund PMI Fund Petroleum Inv Seligman Common 3-25 3-31 3-23 4-10 aengman income STOCK 6- 12 7-3 7- 17 8-6 3-24 4-7 3-10 3-20 3- 10 3-20 4- 3 4-17 3-25 4-17 5-12 Asbestec Indus) INCREASED Esselle Business .18 Heinz Co .28 INITIAL AmericsTrBrist-Mvrs .6875 4-3 5-12 x-pavable on prime 4 units. Fidelity Bal Fd .10 Morgan, J.P. .34 YEAREND LorrJAbb Value App 2.57 x-includes capilal gains. REDUCED Transco Explor .44 3-12 4-6 5-8 6-1 x-3 for 2 spin, Deb Shops x-2 for 1 split.

Gallagher. Arthur 3-10 3-23 3-23 4-15 United unfriendly to frequent fliers, suit says earn free trips, making it easier to win rewards. In November, United changed the rules for its frequent flyer program, called "Mileage Plus," and increased the number of miles that must be flown to win prizes like a trip to Hawaii, Marks said. on United," said Chicago lawyer Spencer Marks, who filed the lawsuit in Cook County Circuit Court. United spokesman Matt Gon-ring disputed the lawsuit's claims, saying most of the changes in the airline's frequent flyer program lowered the mileage required to CHICAGO (AP) United Airlines was accused yesterday in a class-action lawsuit of cheating thousands of customers in its frequent traveler program by raising the number of miles to be flown to earn rewards.

"I think it's a scam, a little bit of a bait and switch to keep you flying Channel 18 to cut work force one-third tice any change in the station's on-air format, he stressed. "Our major job remains the same to be the best TV station in Tucson," he said. 1987 Chris Craft 500 Constellation 4r 1'' or its facilities at 1855 N. Sixth Ave. are for sale.

The work-force reduction is needed so the station can "bring in a better bottom line, Nordmeyer said. The station, owned by the Catholic Diocese of Tucson, has "yet to break even" since going on the air on Dec. 31, 1984, he said. The current employment level of 58 people was reached about a year ago, he said. Viewers of the station will not no About one-third of the employees of KDTU-TV, Channel 18, face being laid off next week as the station trims its "outside production" efforts, the station's general manager confirmed late yesterday.

Robert Nordmeyer said about 20 of the station's 58 employees will be cut from the payroll as of March 20. He said the station's plan to establish a large production business for advertisers and other clients "hasn't materialized." He denied reports that the station Those facing layoff include production assistants and engineering personnel. The station's goal of capturing a large share of local production work, such as making commercials for advertising agencies, was not realized, Nordmeyer said. Much of that work continues to be sent to Phoenix and Los Angeles, he added. Would You Like To Enjoy the Lifestyle of a Millionaire Playmate Become a 30-YEAR TERM 8.875 Fixed 2 points 9.191 APR estimated at $100,000 15-YEAR TERM 8.75 Fixed 2 points 9.357 APR estimated at $100,000 Purchase or refinance 80 loan to value or less up to $153,100.

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ORACLE FRI, MAR. 13, 1987 8 P.M. LIMITED RESERVATIONS AVAILABLE 791-7975 We Take Your Home Loan Personally When you apply for a home loan at Tucson Savings, you'll find that working with a locally owned and managed Savings and Loan will pay off in personal attention and competitive rates. That's because our decision makers are right here, in Tucson, and after all, you're buying a home in Tucson, not in Los Angeles. ARIZONA YACHT CLUB TUCSON SAVINGS No Admittance without We are not a rental or ft ESEE prior reservations time sharing club.

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