Daily Press from Newport News, Virginia • Page 25

PailU Jltm BUSINESS Wednesday, Feb. 12, 1997 I I minimum investment of $100,000 but told several of her victims they could invest less and she would pool the money with her own investment. She sent her victims phony tax forms, fake correspondence and small dividends "to cause investors to have a false sense of security," court records show. Stanley's elaborate efforts could have resulted in her getting slapped with a fine of up to $250,000, but Morgan, waived it, saying. heij "assets would be better applied ta restitution" for the victims.

I To begin the restitution process Morgan said Stanley must liquidate; four life insurance policies totaling $6,625. I The remaining balance, he said must be paid in $100 monthly pay-i ments beginning 30 days after she is released from prison. 1 Scam Continued from B8 According to court records, Stanley set up a bogus investment group she claimed was made up of investors from the Washington, D.C., area. She operated the phony scheme over a four-year period. Stanley claimed to require a I iMIIIgi 1 Open High Low Sank Chang Corn Mar97 272 272 271 272 V4 May97 271 271 270 271'.

Oats Mai97 168V4 17714 167 177V. 9 May97 158 161 156 161 4 Soybeans Mar97 738V4 751 '736 7484 9 May97 737 750 737 10 Wheat Mar97 352 363 351 362 9 May97 351 360 350 368 6 Cotton Mai97 74.20 74 40 73 40 73 86 .41 May97 75.60 75.85 75.06 75.37 ".49 Pilots consider early retirement ifn 1 WASHINGTON As American Airlines and its pilots' union kept up negotiations aimed at heading off a weekend some veteran pilots were considering early retirement to avoid the turmoil of a shutdown. The Allied Pilots Association and American's parent company, AMR met separately with a. federal mediator Tuesday; little progress was reported. Intel plans to grant stock to workers SAN JOSE, Calif.

Intel aglow with record revenues and profits, is sharing the wealth. The world's largest maker of computer chips said Tuesday it will grant potentially lucrative stock options to virtually all its nearly 50,000 employees. Eight win $45,000 in harassment suit NORFOLK i A Navy contractor on Virginia's Eastern Shore must pay $45,000 to eight women to settle a sexual harassment lawsuit. The Equal Employment Opportunity Commission sued George S. Alcaraz and his company, APP on behalf of the eight former and current employees.

EEOC investigators, in a probe that began in 1993, cited "unwelcome, lewd, sexual conduct and comments" directed by Alcaraz and other male employees to the workers. As part to the suit, Alcaraz must receive counseling, obtain sexual harassment training for his work force and adopt a company policy against sexual harassment, EEOC attorney Mildred Rivera said. The Associated Press Workers Union, said the new technology could mean the loss of jobs in upcoming years. But he said the workers might be needed for other postal work by the time the system is perfected. That's Stanley Turk's job.

The systems analyst plopped down in front of a color computer monitor and called up a fictional test letter addressed to: John Johnson on Saddle Notch Drive in Love-land, 80537. Sloppy writing caused instant problems. The first two digits of the ZIP code ran together. Also, the sender wrpte an oversized, European-style No. 7 one with a horizontal slash through its vertical line.

"It read the seven as a two," Turk said. The machine also was stumped on a sample letter being sent to 1 Lakeshore Drive in Valentine, 69201. The machine thought a important to attracting online advertisers. America Online is staking its future profits on a substantial increase in ad revenues, which grew from nothing two years ago to about 10 percent of revenues or $40 million today. Its unlimited pricing plan, introduced in December, curbed revenues from subscribers even as online usage nearly tripled to 4.3 million online hours driving up AOL's costs for online access across telephone lines.

Monday, AOL hired three of the advertising industry's top salespeople and said it planned to dou Postal Continued from B8 Right now, it reads 10 percent to 14 percent. Although it correctly sorted four of 20 test letters penned by employees of The Associated Press a 20 percent success rate. It was confused by a sample letter addressed to "200 West Ave. Another had too much space between the numbers in the 45140 ZIP code of Loveland, Ohio. The first two numbers in the 61937 ZIP to Lovington, 111., were touching on a third, but the machine still got this one right.

In all, the machine couldn't sort 16 of the 20 test letters. They would have had to be routed by one of the 22,000 workers nationwide who manually key in destinations. Tom Fahey, communications director for the American Postal AOL Continued from B8 "Most of the things we have in the pipeline would be problematic to unwind," Case said. As far as refraining from adding any new customers for now, he added: "We don't think completely shutting down to new customers is really fair." More broadly, the issue reflects the beleaguered company's attempt to balance conflicting demands of Cyberspace commerce: Soothing customers' frustrations while preserving its large subscriber base so STANilARI) The Investor's Tool Kite 1996 Year-End Stock Guide and The Outlook 1997 Annual Forecast The Outlook .59 2 25 3-4 .23 3-7 3-28 .5892 3-7 4-28 Andrew Corp x- 3 tor 2 split. Community Bks PA.

5pc Ramemaster Corp 3pc 2-2S 3-11 3- 24 44 4- 1 4-17 liurrmark inn x- 2 shares of Gulfmark Offshore for each share held, subject to approval, record pay dates unannounced. Prima Energy 2-20 3-4 x- 3 for 2 split. Symbol Tech 3-10 4-1 x-3 for 2 split. INCREASED Albany IntJ Beck man Instrumnt Community Bks PA, FstWestVA, GreenPoint Fin Hannaford Bros Hickory Tech Life Re Newell Co PartnerRe Hid a a .105 2-21 4-3 .15 2-21 3-13 .21 3-17 4-1 .20 2-28 3-14 .25 2-21 3-5 .135 3-14 3-27 .30 2-15 3-5 .13 3-5 3-26 .16 2-21 34 .18 2-21 34 Security-Conn 4-10 4-30 CORRECTION Airborne Freight X- revised nav data. .075 2-18 3-4 BkAtlantic Bn 2-17 3-4 x- amount Is 1 share of class A for every 4 shares of class held.

REDUCED Senior Hi Inco Pt .073 2-20 2-28 Symbol Tech .03 3-10 4-1 Am Fin Enterprise Apex Muni Fd Case Corp Chesapeake Cp Cinn Milacron -Cooper Tire Corporate Hi Yld Corporate Hi III, Daniel Ind Delchamps Inc Dole Food Domtar Inc Enron Corp Enserch Corp Gt Lakes Chem Inco Opport 1999 Inco Opport 2000 Intl Flavors Intl Paper Kimball Intl Lake Ariel Bcp MuniAssets Fd MuniEnhanced Fd Munilnsured Fd MuniVest FL, MumVest Fd MuniVest Fd II, MuniVest Ml Ins MuniVest NJ, MuniVest PA Ins MuniYld AZ, MuniYld CA, MuniYld CA Ins MuniYld FL, MuniYld FL Ins MuniYld Fd MuniYld Ml, MuniYld Ml Ins MuniYld NJ, MuniYld NJ Ins MuniYld NY Ins MuniYld PA, MuniYld Qual MuniYld Qual II, Noma Indust A Noma Indust Owens Coming Precision Cast Scripps.EW SmithBam GvSec SBam GvSec SBam GvSec SBam GvSec SBam InvGrd SBam InvGrd SBam InvGrd C. .10 .054 2-21 3-6 2- 20 2-27 3- 28 4-29 4- 14 5-15 2- 28 3-12 3- 10 3-31 2-20 2-28 2- 20 2-28 3- 3 3-24 2 -12 2-28 2-27 3-13 .05 30 .09 .065 .1386 .114 .045 .11 .10 .035 .225 .05 3-4 3-3 4-1 3-20 2-21 3-3 .15 4-1 4-29 2-20 2-28 2- 20 2-28 3- 25 4-11 2- 21 3-14 3- 25 4-15 2-21 3-14 2-20 2-27 2-20 2-27 .043 .05 .07 .08 .042 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 .052 .0755 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-20 2-27 2-21 2-28 2-21 2-28 .059 .061 .078 .073 .076 .074 .085 .074 .07 .077 .075 .076 .074 .076 .077 .03 .028 .0625 0 .06 0 .13 .05 .0459 .0463 .052 .067 .0615 .0621 3-31 4-15 3-7 4-7 2-24 3-10 2-25 3-27 2-25 3-27 2-25 3-27 2-25 3-27 2-25 3-27 2-25 3-27 2-25 3-27 2-25 3-27 also SBam InvGrd .0696 x- all of the above Smith Barney dividends a declared the same amounts with the record dates of 3-24 4-22, pay dates 3-27 4-25 respectively. SBam Telecom .71 .25 .057 .059 0 .175 3-25 3-27 3-10 3-31 2-20 2-27 2-20 2-27 2-25 3-14 2-20 3-3 2- 28 3-14 3- 7 3-18 2-18 34 4- 2 4-23 2-20 2-28 Sprint Corp Taurus Muni CA Hid Taurus Muni NY Hid Teleflex Inc Tidewater Inc United Cities Valley Forge Western Natl Wilshire Oil TX, VvoridwdDllrVest .15 .255 0 .06 .04 .05 .1293 g- payable in Canadian funds. Prime Rate: 8.25 Discount Rate; 5.00 Federal funds market rate; High 5.1875 Low 5.00 Last 5.00 Treasury Bill auction results; average discount rate; 3-month as of Feb. 10: 5.02 S-month as of Feb.

10: 5.07 52-week as of Jan. 30: 5.34 Treasury Bill annualized rate on weekly average basis, yield adjusted for constant maturity, 1 -year, as of Feb. 10:5.53 Treas. Billmarket rate, 1-year: 5.22-5.20 From wire service reports category 2111 Business categories I Treasuriesmoney markets 2101 I Foreign exchange rates 2201 I The commodities report 2401 Bernstein the New York research and money-management firm, notes that the average decline during bear markets since 1970 has been 20.4 percent. But the mixed portfolios that the firm prefers (U.S.

and foreign stocks and bonds) declined only 9.0 percent during those periods. Sheldon Jacobs, editor of the No-Load Fund Investor, top-rated by Hulbert when risk is taken into account, recommends these funds: Janus Overseas (1-800-525-8983), Vanguard Index Emerging Market (1-800-662-7447) and T. Rowe Price European (1-800-638-5660). Yourself: There's no easy way to get yourself ready for a bear market psychologically. The advantage of fire drill thinking is that it reminds you that the worst really can happen.

That's the first step. The second is to visualize yourself opening the newspaper and learning that your 1,000 shares of IBM stock, worth $13,500 on Friday, are worth $10,400 on Monday. (That's what actually happened in 1987.) In other words, go through the devastation in your mind; steel yourself to persist. The third step is to think of the future. On May 6, 1932, with stocks down more than 80 percent from their highs a few years before, Dean Witter, the Wall Street firm, sent a letter to clients with some sage advice: "There are only two premises as to the future.

Either we are going to have chaos or else recovery. The former theory is foolish. If chaos ensues nothing will maintain value. No policy can be based upon this impossible contingency. Policy must therefore be predicated upon the theory of recoveiy." This letter sounds positively antique today, with the last 10 percent correction six years behind us and the last 40 percent decline back in 1974.

But fires happen. So drill. Alliance Cap Mng Cdn Natl Railway Imperial Chem Ind x- approx amount per ADR. STOCK this Here's an unbeatable combination for any investor, expert or novice. Compact, accurate and comprehensive, our Year-End Stock Guide gives vital investment facts on 7,000 securities, 6,000 common and preferred stocks listed on the.

To help the Postal Service's new machines read handwr'it- ten mail: Print numbers, but street names and cities in cur-v I sive. Put ZIP codes on the i citystate line. Rnn'i lot numKare tm inh i WI I Iwl I I Ml I I uvl lUUwl Refrain from excessive oion spacing. Don't let the tail on a letter- -like run into the line betow Keep address lines parallel to the bottom edge of the Iet-2 ter. The Associated Press small, partial circle meant ty'be a zero was an extraneous mafjc on the envelope, maybe ink from a messy pen.

ble its ad sales staff. As for the current network, hot-j tlenecks, AOL believes thaf adyer-j tisers aren't worried about tomer frustrations because they wil be ironed out as the company spends $350 million to add 150,600 new modems to increase network capacity. That is in addition to spending $10 million to $15 million this qtiari ter to rent an additional' modems. 1 "When the history books are written about AOL 20 years from; now, this period will be a relative-j ly modest chapter in a much more significant overall story," Case' said. i' the new investment year Newport News.

Kit 746, Newport News, VA 236(N The Outlook 1997 Annual A rt 4 1 9 1ft no 3' -Zip. Daily Press, Inc. tViOT 'brpvtrnar fxtoJid tit wlaw snmt ufaM I loiii. ttx hi ftn.n;) fVrstWfl tew I tftLtl ktOJuf i iwrt Closing prices Monday: NO RFOLK TERMINAL AREA: No. 2 red winter wheat 3.67 new drop 3.35; No.

1 soybeans 7.70 new crop 6.95; 48 soybean meal 277.10 per ton Virginia hog market: Hot carcass basis: 33 cents tower. Receipts 470. 163-191 lbs. $69 54 with 48 percent lean yield less than back-fat. Foreign Exchange, New York prices.

Rates for trades of $1 million minimum. Fgn. currency Dollar in In dollars fgn. currency Tue. Mon.

Tue. won. 1.0012 1.0012 .9968 .9968 .7603 .7575 1.3153 1.3201 .0848 .0858 11.787 11.658 .0290 .0293 34 51 34.13 .9550 .9550 1.0471 1.0471 1.6369 16407 .6109 .6095 .7380 .7387 1.3550 1.3538 .002393 .002396 417 .85 417.35 .1202 .1202 8.3216 8 3216 .000938 .000934 1066 44 1070.80 .0361 .0359 27.72 27.85 .1569 .1586 6.3736 6 3065 1.173001.17100 .8525 .8540 .000270 .000270 3705.00 3705.00 .2942 .2942 3.3985 3.3965 .2025 .2040 4 9377 4.9025 .1766 .1790 5.6610 5.5880 .5964 .6039 1.6766 1.6560 .003833 .003853 260.92 259.52 .1291 .1291 7.7445 7.7457 .0058 .0058 171.23 171.70 .0279 .0279 35.860 35.860 .000421 .000421 2377.252377.88 .000333 .000333 3000.00 3000.00 1.6000 1.6017 .6250 .6243 .3013 .3007 3.3194 3.3252 .000609 .000616 1641.25 1624.00 .008120.008145 12315 122.78 1 4094 1.4094 .70952 .70952 .000645 .000645 1549.25 1549.25 .4019 .4023 2.4880 2.4858 .128452.128403 7.7850 7.7880 f-ArgentJna Australia Austria C-Belgium Brazil Britain Canada y-Chile China Colombia c-CzechRep Denmark ECU 2-Ecudor d-Egypt Finland France Germany Greece 1 Hong Kong Hungary y-lndia Indonesia y-lran Ireland Israel Italy Japan Jordan Lebanon Malaysia z-Mexico Netherland N. Zealand Norway Pakistan y-Peru z-Phiiippines Poland Portugal a-Russia Saudia Arabia Singapore SlovakRep So. Africa So.

Korea Spain Sweden Switzerland Taiwan Thailand Turkey U.A.E. f-Uruouav .5325 .5385 1.8780 1.8570 .6874 .1510 .0252 .3815 .0380 .6843 1.4548 1.4613 .1532 6.6237 6 5295 .0252 39.68 39 68 .3811 2.621 2.624 .0380 26 34 26 34 .3311 300 3 02 3333 .005959.006009 167.80 166.43 .000177 .000177 5639.00 5636 00 .2667 .2667 3.7500 3.7500 .7067 .7099 1.4150 1.4087 ,0308 .0308 3247 3247 .2264 .2277 4 4170 4.3910 .001151 .001151 869.10 868.60 .007073.007140 141.39 140.05 .1350 .1359 7.4079 7.3558 .6967 .7009 1.4354 1.4267 .0363 .0364 27.54 27.50 .03855 .03849 25.94 25.98 .000009 .000009 117555.00 117555.00 .2724 .2724 3.6705 3.6705 .1129 .1129 8.8600 8.8600 .0021 .0021474.2500474.0000 y-Venezuela NOTE: The Federal Reserve Board's index of the value of the dollar against 10 other currencies weighted on the basis of trade was 94.33 Tuesday up 0.65 points or 0.69 percent from Monday's 93.68. A year ago the index was 86.75-Rates: a-fixing, Moscow Interbank Currency Exchange, commercial rate, d-free market rate, f-financial rate, y-official rate, z-floating rate. Prices as of 3:00 p.m.Eastem Time from Dow JonesTeler-ate and other sources. Spot nonlerrou metal prices Tuesday.

Aluminum 69.2 cents per London Metal Exch. Tue. Copper cents per N.Y. Merc spot Tue. Lead 50 cents per lb.

Zinc 5880 per delivered. Tin $3.9212 Mon. Metals Week composite price per lb. Gold troy NY Merc spot Tue. Sliver $4,825 troy N.Y.

Merc spot Tue. Mercury $233.00 per 76 lb flask, N.Y. Platinum $358.80 troy N.Y. Merc spot Tue. n.q.-not quoted, n.a.-not available.

mmm TUESDAY DIVIDENDS DECLARED Pe- Stk of pay-rlod rata record able IRREGULAR cause you to panic and sell if the market falls the worst possible reaction, but an understandable one. Right now, there are some interesting alternatives for part of your holdings. James Grant, editor of Grant's Interest Rate Observer and a longtime bear, points out that many long-term municipal bonds are yielding about 6 percent, tax-free. For someone in a high tax bracket, that's the equivalent of a taxable return of about 10 percent-or roughly the historic average for stocks, which, as we know, have a lot more volatility. "Six percent, although dull enough standing alone, is almost compelling when stacked up against the equity competition," Grant says.

Of course, there are risks with bonds as well-if you don't hold them till maturity. Rising interest rates can cause the price of your munis to fall, so you might have to sell them at a loss. But if rates rise, stocks will certainly fall as well-and you can't hold them to maturity. Among the best hedges against rising rates and rising inflation are real things. Louis Navellier, a money manager who also edits MPT Review, the top-rated newsletter over the past 10 years, according to the Hulbert Financial Digest, is recommending oil stocks.

His favorites include American Oilfield Divers, Reading Bates and Shaw Group-which he calls "very safe bets," in part because each trades at a price-to-earnings ratio of less than 14. There's no better protection than cash, by which I mean money-market funds or Treasury bills, currently paying interest of about 5 percent. You can't lose money in cash, and you'll also have a reserve for buying at lower prices if the market falls sharply. International diversification lowers risk substantially since foreign stocks and U.S. stocks move up and down out of sequence.

Sanford C. i 1 I i hKH rv Jj 928-1111 MMMtMiMM-rSMaWi i New York and American Stock Exchanges, Nasdaq and regional exchanges. Compiled by Standard Poor's Corporation, the guide includes the year's highs, lows and closing prices; earnings and dividends records; balance sheet figures; volumes and more a total of 49 columns of valuable investment data on every company. Its, companion report, The Outlook 1997 Annual Forecast, provides a look at seen by experts at Standard Poor's. The report includes best 'Z thinking on market and economic projections, industries with superior potential, stock choices for capital gains, promising mutual funds, a master list for long-term five-stai; stock picks for short-term appreciation, and much more.

Get both in the Investor's Tool Kit from the a AMC Continued from B8 other markets typically pull business from other theaters, but he added that they also increase the overall interest in movie-going. With more screens, he said, the theater can play movies longer, gives people a chance to see their second and third choices before they're gone. Stuffle said AMC's seven-screen at Patrick Henry Mall will remain open, but he wasn't sure how the megaplex will affect AMC's Newmarket 4 or Coliseum 4 theaters. He said their longevity depends on the business they continue to do and their lease terms. I- He said the 12-screen Regal Cinema going up at Riverdale Plaza likely is far enough away so that it won't directly compete for audiences.

Glassman Continued from B8 more common than farsightedness. You might believe that you'll be able to keep your eyes on the distant prize when the market tanks, but you can't be sure until you actually experience a bear market. Many investors, who have never gone through such markets, appar- ently think they've been outlawed. "Contrary to popular belief," writes ban Sullivan, editor of The Chartist newsletter, "there is no such thing as a perpetual bull market." Still, a recent Louis Harris survey found that 41 percent of mutual fund investors don't expect a market Recline of 10 percent or more to take place over the next 10 years. And 78 percent of those polled don't think a 20 percent decline will happen over that time period.

Yet large and sudden reductions in stock values are not remote events. Many Americans, who have joined the happy legion of mutual fund investors in the past few years, don't seem to know this because judge from their own experi-ence, not from history. For example, the market hasn't fallen 10 per- cent in six years; hasn't fallen 30 percent in a decade; hasn't fallen 40 percent in 22 years. Now, that was a bear market: i From the start of 1973 to the end of 1974, the Standard Poor's 500 ndex dropped in 18 out of 24 months. You could buy on the dips, course, but the market just kept So back to the fire drill.

There two approaches: first, preparing your portfolio now so that you'll 4ave an easier time riding out the storm and, second, preparing your- self psychologically for your con- "frontation with the bear. Your portfolio: I preach owning lots of stocks, but the reality is that a huge stock portfolio might ally at big savings! Regularly priced by at $31.95. Now available at only $9.95 plus tax at the Daily Press Main Office, 7505 Warwick Stock Guide To order by and Annual Forecast not sold separately. mail, please complete the coupon below. The Investor's Tool The Daily Press, Promotion Division (MP 3101), PO.

Box Please mail me sets 11 At I I (Stock Guide and Annual Forecast not sold separately.) Name. of the 1996 Year-End Stock Guide and 1 7n U- State. or money orders payable to The Address. City Please make checks HHUKKIIHI in in i 1 i inr rm irft rf f-.