Northwest Arkansas Times from Fayetteville, Arkansas on August 11, 1972 · Page 6
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 6

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Fayetteville, Arkansas
Issue Date:
Friday, August 11, 1972
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Page 6
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*' ·' Nertdwftt Arfcanws TIMIS, Friday, Aug. t l 1972 i '. ! : ' .FAvrrrkvlLLi: AKKAUIAC ' · ' ' ·· ' Mutual Funds Still Down Sales Of Tax-Exempt Bond Funds Booming By JOHN CONNIFF BuslrifM Ariilyst NEVf VORr; (AP) i. i mutual fund Industry seeks 1' to repair a rift in public con )' fidence that caused cash Ins lo exceed salts by more than $950 , million in the first six months , of 1 1972, a related industry Is t booming i4" Sates of tax exempt bond flvfunds, whose portfolios are up of the debt securities tissued by towns, publld author \ Hies, school districts »nd the t like, grew in the same period ! by close to $500 million to a to 4 tal of *1 75 billion 1 The interest earned on such * bonds is tax free, which means - that a bond advertised as yield K i n g 6 ger cent provides as ? much income to a couple with 1 taxable income of $25 000 as , oth,er securities yielding 9 38 £ per cent r, Since such funds are far , more conservative than many » mutual funds, whose portfolios are made,up mainly of corpo t rate stacks and which some i times fluctuate widely, their growth suggest that investors »*may be turning jnore con servative FAILED TO DELIVER ", If lhat is so, it seems that some of them were propelled along that course by the ex cesses and failures of mutual ^funds, many of which claimed to offer but failed to deliver price stability and safety i Tax exempts offer both. r In fact says Frank P Wendt piesident of John Nuveen * Co , which claims to have * founded the fust such fund 10 t years ago, a.tax-exempt fund can almost guarantee stability ,' and safety--ard profit True says vVendt bonds do involve risk They fluctuate in ] price as they become more or ' less sought after But, whereas ' a stock price might fluctuate 1C f ' per cent in half a day, it might |{-take half a year for : similar f change in a bond ' People are becoming more [^sophisticated," Wendt says He ]· feels '. they are becoming more iV aware of the tax tables and ft that they are becoming dis- i* enchanted with sudden price K changes in other.professionally jt managed portfolios.' - f! There's'no question that the £ tax laws-provide the tax ex- wr empts with their most desirable $ feature, and no seller of either J Individual bonds or of bond {·funds is without a handy table '''that gives the equivalent yield F an investor would have to earn *.from taxable securities. .And':as you rise op the income scale A those equivalents become rather, extraordinary. A couple filing a joint return with $10,000 taxable income can earn the equivalent of 7.69 pel cent on a tax-exempt bond thai yields 6 per cent, if. And a wealthy couple report' ing taxable income of just a ,,,..little under $100,000 would earn F-jva hefty 15 per cent because of their £0 fier cent tax bracket DROP Understandably, the prop un der such bonds and funds is the tax break, and tiom time to Ime it Is: suggested that ,lhe prop be eliminated But that jventuallly seems unlikely. Most people involved with lax exempts believe it would, take an act of Congress to remove :he exemption, and even the suggestion of such a bill could s e t off a fiery intergovernmental conflict Municipalities and others rely on Ihe exemption to help them attract funds for essential proj these ects As 11 Is, many of g o v e r n m e n t a l units feel strntnod for funds and they aio not only Interested in keeping .what advantages they have bul nre seeking more. Fulfon County Group Wants Vote Monitors SALEM, ; Ark; (AP: A Ful- .an icouiily group lifts . asked President Nixon to send "fed- oral monitors" to tlic county to certain that the Novcm lie r. .general election Is- con : ducted fairly. ' ' " ' ' James K. Davis, founder o! the Interested Citizens of Fut ton County For Action Please Ino , said he formed. th* gtoup after ho became alarmed a voting practices In the county, "We've got dead people on h« roster who voto," h« snld. 'Oivo wns proven cloud 17 years .ml voting ~ tho lifcnd stone Is ml In tho graveyard." Davis nlso siild "every" romii at Ion of tho Arknusas election codo had been vlolutcd. He nalrt, there were no voting boollis and that voting was done with R lead pencil so t h n I votes could be altered. '"^here's no basis.for tho accusations," Sheriff Hoy Bnrkoi said, "Our county govornmcn Is operated by the ]coplc and Is checked and rcchecked by the authorities." County Clerk Lester Collins satd it seemed to him "like this is -a bunch of troublemakers There's not .much truth to any thing they say.": Barker and Collins noted tha Davis Is an Independent cand rial* for county Judge, NO S'l'ATUtK The slnlo ntlornoy fflco snlil It 'was unnMo to tlild , slaluto requiring that pens bo uniislicd voters and Collliis snld tho county did 'not h»vo unds lo tlmuieo voting booths. Davis also charged Hint -"a loast 1,000 votes were tttolci and mnnipulnted" In tho.county in tho June 13 Democratic pvl mary runoff between Sen, Join L, McClollan nnd.Rep, David Pryor. ', . , Tho group snld that : Pros Ally. Terry Poynter of Moun tain. Home had been asked t Impound three ballot boxes' i connection with the count judge's race In the May 30 prof crcnUal primary. ,"We were faithfully promise that this would be done and w b« advised of such ac- loii," tlio loiter Midi ."Thai ins ilio Inut we hnvn liennl of lite request," Poyntor said, ho was connoted several dnya after lln irimnry i\n^l llioro was a cjuoa- loii aboiil only OHO box. Ho salt! 10 was conducting an Infonvm- ;lon Investigation, "as Umo por ; mils,"" ' · . · ' · · · · . ,·' Tlio letlar snld Nixon's Inter ventlon "could well avoid an !n tqrnalrevolUtlon." · Thomas H. Brny of ^ariip presldont of tho organization said the'group has about 10 members'. Bray said the grou To.'.VMt U.S. WASHINGTON (AP) - Tll» Ulo Dopiuimoiit Buys Pi'ln- i Mardrlo'lo of llio Nolliov- nmls n'ml lior luufoiiml J'lolor ilun n prlvuto visit to llio Jnilcti Slulos nuxl month! . jmd asked the state for an nurtl of 1971 county records and ha been promised this would b done. DR. LYNN BUHR CHIROPRACTOR announce! the openlna of his office 608 Hwy 71 S. Siirlngilnle Jlon,, Weil., ni. « (« 1 »»!l * '» ' fuel., 11iur«., Sat. * to 1 next lo Kentucky Fried Chicken PHON6 751-0023 Dillard's NORTHWEST ARK. PIAZA of fine quality ticking we offer these..... Mis-Matched Sleep Sets...4FE 45%/ ^srti^i^ ^r^f^f^ ^agSSgiEPsgitf JLsUj^-j^,^;.,. . '^£)sS/^-4«:fer5s^, , .·'^£E8£i®IES%^. 2-pc. set Use One of our easy Credit Plans It's so easy fo say... "Charge if" Special Buy pull Ther-A-Pedie mis-matched sleep sets at a never before,, never again low, low sale price!I Choose from twin or.full sizes with these quality features ... gorgeous Burlington covers, 312 coil temp-o-flex units, moisture resistant cortex Insulator pad, foam layer for extra support, quilted on both sides, four vents, pre-builf border, hardwood frames, wood fiber insulator, 72 coil box spring -- 4-way tied. You · get all this plus this fantastic low, low price. Furniture and Bedding, second floor ' RoyalRim^v "Seven Seas"Nolron J " ' . . ' . . - . / " . · ' ' · .*/ " · " · · ; · ' . ^ ·i'jjt'iiujijii "·^^^·tesa PRINT SHEETS- Twin Hot or fitted, Reg. $3.79 19 '*·· *J Rtsi.$4.79 Fw!t fla) or «Hi4..*...,. ^4.1.9 R»«. $9,99 King fiat or fiHed......^7.99 Rtg.$3.19pr.StandardPillowcowt$2.69 R«g. $3,69 BoirtwPilloweast*....^2.99 Tlvt bright beautyand ronwne^ of the Sewn Sed*..'. Ilie sun-drenched splendor of for-away lends, aH 'created far your bedrooft arid bath by Cannon. A no-Iron Feathorlite* blend of 50% cotton and £0% polyester sheets with over 130 threads per square inch. Azure Blue, Cinnamon or Fire Red. SAVE as much as '20% BOWBN Bowen Honored By Lions Club .jj George L. Bowen, a long lime member of the Fayette- fville Lions Club, 'and former ·C president of the club, has been ·"made a "p r i vi 1 eg e'd" .1 member by vote of the of- Cficers and m e m b e r s of i;.the board. Marshall Heck, ·^president, said, "He has made jja great contribution to Arkansas '{rand international Lionlsm U through more than 35 years of ? service to the Fayetteville club, "which honors him as a privi- Zlcgcd member." £ Only one other has been given «. this distinction by the club-- ·pRoyce Lansford, who like ;':f Bowen is a retired retail busi r; nes manager. ~ Steer Prices :;f WASHINGTON (AP) -- Pro- · j ducer prices for choice grade ·$, steers began to move down in if-early August but were still av- ';-»*.eraglRg well above a year ear- · '·' Her, according to the Agricul- J' lure Department. ·f- Steers at Omaha averaged rjt $36,82 per hundredweight in the '','C'week ended Aug. 3, the depart- y::ment said. ; Iij mid-July aver- rji ages were nearly $2 higher. j- The early August price, how jj; ever, was well above the $33.13 !?'reported for a year earlier, a r report showed. ·xmn WATCH f7N*ttti MoctM. DuPont Red Label Dacron® Pillows Standard tilt R.g. $4.98 Sale... $4 Reg, $6.98 GiM«n six* · S 3-99 R»8. $9.98 Kma Siz« S 5.99 Plumpl/ filled Dacroh" polyesl'r prllc-ws. Machine \vashobTe and completfrty non-allergenlc odorless. Buy now during our August VVhlle SaTft save more. Tentuft's "Twinkle" 100% Nylon Pile Area Rugs Reg. 13.99 21"x3"lira... Sale... $2.99 Rug. SS.9 R.j. 53.9» Tho ptrfectlilllonig you nerd for a big |ob. Machine washable, quklc drying safe non-skid batk. White Topaz, MotSt Azura lue. Pink, Pucpie, Siomes« Pink. 'iance SPECIALS from Tappan ^Motorola Tappan Continuous Clean Tappan Continuous Clean Oven Gas Range Oven Electric Range Motorola 12" Diag. Portable B/W TV 00 only $ 248°° Appliance*, jcewirl flflnr only ^84 targe 25-Inch wide oven far banqutf the meals. VUuolit« M avM door, lifl'n lock top. Conlinuoui cleanaven, clean a j jj cocks. Clock with timer fo r long or )h«r cooking liim. MoaVI 30-1051.. Visialil«'ovtn door, lifr'n lock fop, Conlinuouj clean ov»n, cJaoni!f»lfaiyou cook. Plug-ouf!e* ment* mok« cleaning caller, Infinifo heal conlrolt dial ony tempcfoluro you want. Mod. =31-1541, lightweight, completely portable, yet fofe and iturdy. Buill-ki antenna and built-in carrying handle. All corriiols and ipeoktu eonvenlanlly located up-fronl. Motorola 18" Diag. Portable Color TV only'$389 95 , liula'Matlc* color lunlng system, coliJ Koto re- liobifily, Walnut fltaln finliti cabinet «f high. Impact plailic, Cancealid handle. Comet complete Wifh $17,75 roif-oboul Hand, Electrophonic 4-Pc. Stereo Component Unit FW-AM/FM iler«o radio, with b'ulll-ln -rm lape player and Oarrafd rncori! chono«f v*h dia. mond n x lui. 6-ipaakcr Air SiriptDllon "cluocon«" audio lyilern tn two enclosures NORTHWEST ARKANSAS PIAZA... Between FayettevilKe Springdale ,,... SHOP MONDAY THRU SATURDAY 10AM-9PM DILLARD'S', Full-Line Department Store Featuring the Nation's Finest Labels!

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