Victoria Advocate from Victoria, Texas • 28

Liabilities And Losses Group Hits Brock For Labor Contract 8C THE VICTORIA ADVOCATE, Wednesday, November 20, 1985 Tough Insurance Cycle Puts Squeeze on Firms Natural Catastrophies $1 5boo Property Loss By Fire $7 28 mtfcon Water Contamination $15 5 mon Industrial S3 5 bon EDITOR'S NOTE Insurance people agree theirs is a business of ups and downs, reacting to income-producing interest rates by either raising or lowering premiums. But the current dip in the insurance roller coaster ride is surprisingly deep. This second story in a four-part series, "Insurance Drought," explains the reasons. II Insurance Drought Insurers recorded $101 1 boo losses tasi year, up from $702 bon pari 1980 other way." Brock's "high-profile promotion of the UAW-Saturn accord is "tantamount to tampering with evidence," right to work committee president Reed Larson said in the statement Monday. Brock should "step out of the way and let the NLRB do its Job properly," Larson's statement said.

Asked Tuesday to respond to the committee's criticism, Brock spokesman David Demarest said it "would be inappropriate for me to engage in polemics," since the legal issue is pending. "Brock has been very supportive of labor-management cooperation on the basis that it increases American competitiveness and insofar as Saturn is an example of a more cooperative approach as opposed to a more confrontational approach, that's good," said Demarest. Panel Okays Limit On Nuke Liability WASHINGTON (AP) The nuclear industry won the first round Tuesday in a legislative effort to keep a relatively low government ceiling on its liability exposure in event of a catastrophic atomic power plant accident. By 15-11, the House Interior Committee's energy and environment subcommittee substituted a $2 billion limit on the industry's liability for a $10 billion ceiling proposed by Rep. Morris Udall, D-Ariz.

WASHINGTON (AP) The National Right to Work Committee is accusing Labor Secretary William Brock of trying to whitewash a labor agreement that allows the United Auto Workers union to represent workers at General Motors planned Saturn plant in Tennessee. The committee, a conservative group opposed to compulsory unionism, accused Brock in a statement of "orchestrating a coordinated drive to whitewash an illegal sweetheart deal." The group's legal defense foundation filed a complaint with the National Labor Relations Board in August after the agreement was reached which recognizes the UAW as the exclusive bargaining agent for Saturn plant employees. The pact, says the committee, constitutes an unfair labor practice because employees will not have the opportunity to choose their bargaining representative. The complaint also says the agreement illegally gives preferential hiring to those who pay UAW dues. Filed in Detroit where the automaker is based, the complaint was transferred to the NLRB in Washington several weeks ago in an unusual move which will result in the issue being handled by NLRB general counsel Rosemary Colly er.

Ordinarily, initial disposition of NLRB complaints is made by the office in which it is filed. The committee says Brock is "seizing the opportunity to sugarcoat Big Labor's scheme and publicly pressure Collyer into looking the By FRED BAYLES Associated Press Writer In 1980, the MGM Grand Hotel in Las Vegas, partly gutted by fire and reeling from the deaths of 87 guests and employees and injuries to 700 other people, was able to buy a unique retroactive insurance policy. For just $38 million, a consortium of insurance companies sold the hotel a $170 million package to cover eventual settlements with victims and their families. Five years later, times have changed. Dorothea Olsen of Ken-newick, is faced with a 500 percent increase in insurance for her day-care center in Pasco, even though it hasn't had a claim in 10 years.

"We are faced with losing money that should go to teaching the children," she told state lawmakers. The two cases illustrate the cyclic nature of the insurance business, a feast-to-famine industry that goes from periods of frenzied competition and low rates to tight markets and high prices. But this latest cycle in liability insurance is unprecedented. Economic and social factors cost insurers a collective $3.8 billion in 1984 ers by settling most cases quickly out of court. In addition, throughout the industry, interest rates fell faster than expected while the number of claims, and the damages awarded, rose.

John Jennings, an editor with National Underwriter magazine, said the industry was slow to react. "They knew this was happening to them and yet it took until 1985 for the market to turn," he said. "It should have turned in 1983." Dramatic rate increases began last year, yet premium income is still below levels of six years ago. In 1979, insurers collected $6.6 billion in premiums from business customers. "If you only allow for inflation, the premiums in that line should have totaled $9.4 billion last year," said Sean Mooney, an economist with the Insurance Information Institute.

Instead, 1984 premiums totaled $6.5 billion. But industry critics say recent rate increases have more than compensated for past mistakes. "Prices are now going into extremely excessive areas," said Bob Hunter, head of National Insurance Consumer Organization. "The idea that every line of insurance in the country is falling apart is ridiculous." But while income has remained static, losses have climbed. In 1980 the industry paid $70.2 billion in claims; last year, losses were $101 billion.

Richard Earley, an assistant vice president at Aetna Life and Casualty, said court rulings had saddled insurance companies with claims they never intended to cover. In Jackson Township, N.J., for example, two insurance companies were ordered to pay $15.8 million to residents suing over water contamination from a leaky landfill even though the municipal policy expressly excluded pollution incidents, except for "sudden and accidental." "Traditionally we felt we could develop a contract that stated what our liabilities were and what exposures we were insuring," said Ear-ley. "We found recently that even a very common understanding by us and our insured had gone away by the time we got in the courtroom." This uncertainty has scared insurers away from potentially high-risk customers. Insurance for day-care centers was once considered a "sleeper." Many home day-care centers simply paid a few extra dollars for a rider on their homeowners policy. But when a California company dropped the line, other insurers shunned the business.

They were concerned about reports of sexual abuse, even though no such claim has ever been filed. MUTUAL FUNDS the worst year on record and dried up insurance for steady customers. Those able to buy insurance face rate increases of 300 percent to 1,000 percent even when they have never filed a claim. Consumer advocates like Ralph Nader say the industry has manufactured a crisis, but insurance executives say events are beyond their control. Twenty insurance companies have been declared insolvent this year, the highest number in 11 years.

"The mood is scared," said James Holland, an executive with The Travelers Cos. The insurance industry has ridden a roller coaster of cycles since the 1920s. When insurance money is plentiful, rates fall as companies compete, for premium dollars to invest in stocks, bonds and real estate. When rates fall too far and investment income can no longer support them, the cycle reverses and rates climb. The latest cycle began in the late 1970s when insurers cut rates to lure additional dollars for high interest investments.

Foreign insurers, banks and brokerage houses, attracted by the investment promise, entered the business. "The industry is naturally competitive," said Warren Levy, a spokesman for the Insurance Information Institute. "With new money coming in and everybody looking to increase market share, companies cut rates." Although the results looked good the industry recorded a net gain of $7 billion in 1981 experienced hands began to worry. "We were very reluctant players under ground rules that we knew were wrong and were going to lead to disaster," said Holland of Travelers. "As long as the investment income was coming in, it was pretty hard to cry wolf." The MGM Grand story was an example of the times.

The insurance companies, thinking it would take years to settle suits from the fatal blaze, counted on profits from high interest investments to offset the cost of claims. Instead, the hotel startled its insur- Stock unevetl USGvt IIS NL CpCsh 71 TaxEi li as II 10 SIFrm Gt 11 a Srfrmtl 15 7 INVESTING COMPANIES NL MKhC 1 43 1 Ol PC CP MA NL Cownoia Funds: STStreet Inv: OlMOb 0 54 I Hi Pitorim Grp: NEW YORK (AP) FleiFd Ma Find 12 NL Gnti 10-24 Nl MuMc MSS NL Tht following quo par a a 73 AS GNMA 13 AI wiEq 4 IS 4.11 Eich NM NL Grwth rll.N NL Invtt 14 70 70 SNedman Funds- tations, supplied by tht National Associ PiiMag I St t.N toll 1.4t NU Cwm At I 57 1 71 PiHi IB 111 Founders Group: Cwffll CO I V) 2J0 YflU The industry contends it has to be more selective about customers because it has less money for insurance. Under most state regulations, insurers must hold $1 in reserve for every $3 of insurance sold. That means for every $1 of reserve lost, the companies have to cut sales by $3. Mooney, of the Insurance Information Institute, said the industry's surplus had fallen nearly $2 billion, reducing its capacity to write insurance.

The industry's capacity has also been reduced by cuts in reinsurance funds money provided by reinsurers like Lloyd's of London and other foreign companies that underwrite the risks covered by insurance companies. Andre Maisonpierre, president of the Reinsurance Association of America, said companies that rushed into the U.S. market five years ago now are cautious. He estimated American reinsurance companies had lost as much as $1 billion in foreign reinsurance funds. "Lloyds is saying that 12 percent of its premium is U.S.

business and that 12 percent has generated losses that have virtually wiped out its worldwide gain," said Maisonpierre. Ironically, there are signs the industry's roller coaster ride already is heading up. Insurance stocks are considered a good investment. "Earnings should be excellent in 1986 and better in the next few years," said David Wells, an analyst for Goldman, Sachs. Critics like Nader and Hunter say the stock market forecast backs up their contention that insurers are exploiting the situation.

But Levy of the information institute said, "We have no qualms about saying the industry will be profitable again. "The industry that comes out of this will be different a tougher, smarter industry." NEXT: Suing "Deep Pockets" Pioneer Fund Grwth 7.13 NL Composite Group wean err Bond 153 MCl 14.41 NL LMTrm 12 14 Hot LMdDv UM NL LMnr MAS NL Loonus Saylos Caplt DS4 NL awt aa NL LOTO AHXttt AttiltO I I 0S tnd do II IS OevGt 7 53 GvrSoc 1 31 1.44 ToiFr t.N 44 TlNY 34 7S ValAp 11 13 13 Lutheran Bro: Fund 17 II Fund 21 04 33 17 his nrr Wfl KouwM OUR NEW Mutual to nl IdSlk st NL Fund M.a NL Incofd S3 t.tl ation of Socuritios Distort, art the pncn at which time securities couM have boon km (Not asstt value) or bouont Specl tUI NL II inc Wt.47 M-0 III inc 14.17 IS 70 FranAlwl Group: TaiEi an NL Ptltrnd 1140 NL USGev 107 HI Am ind 1 Assoc it Invest 1.4 Oceen S.03 StM Rot FdS. Bond til Cap Op 22 Orocv MM Hi Yld a Specl 172) Sloct 14 S3 TaiEi let TotRet 3) tl Price Funds: Concord Id NL lvalue plus salts AGE 19 i CrpCtr 110 NL DNTC MM Eouity S.44 117 Constat aa NL cherts) Tuesday. Copter Its NL iH lay Grwth WjAl Gthlnc 11.14 HlYld M47 Incom 154 imt 14.70 AARP Invtt cm cop ti mi FodTl IS II Goto 744 101 Grwth 11.45 Criterion Funds: CaoGr N27 Nl Incom l.7 0 44 Muni 7 7 75 Cmrco t.Tt 70 CmM IS" NL NL MmFinoncI MchTF I IS MAI 25 MAI loot? ao at OnBd I5S5 Nl Ctninc IS NL WM li NL NYTnN.il 1107 PiM on t7si MFI 11 15 11 OS MFC MS Ma to 10 It MSNC a MN Unv 17 SI NL StroteoK Funds Capit 105 441 Invst IH 4 a Silvr 4 70 5 72 Option 411 A-B2 Omit Mai TlF 15 NL iir Era 17 73 1493 ShTrB SM TiFrl ID TxFrH M.37 utm 7 SunM IS 44 1417 AST Family NL MS VA It incom 2.02 l.M Emrg 14.1? 1570 US Gv tot! MIT 11.41 II) Otfiinc isni7 37 US Gov 7 45 7 74 DP A Sm 174 ft NL StratnOv 25 43 NL StretGth It 97 NL ii i2 ti CalTi AA7 115 OFA Fin 10l.il NL Serine It IS T2M I 41 IS TxFrSI SM NL PrlnPTE a tl Pre Services Dean witter: an FrdGG 14 ts IS 7S FrdRe a 10 Stnmoln It 04 tt 7) StrngI 14 51 TmnSh lit Nl ADTEK M-Tt NL cajtf nil nl Convrt il NL MtdT MAS NL MIG MID MCO MEG MFD MFI MMB Acorn JS SI NL FdotSvr IS II 71 FdTrGIt 1114 NL I MM NL TernpMiOh Group Ahiturc NL DvGtr ID NL DivGT 1S.7S NL 0 St Nl funds: Getco 24 GIT MY NA7 Prudential Bacne CVM ll II 71 HJYkJ lid lias a ISO Ult II 35 13 24 I 77 14 OS tB M17 7 01 7 54 M04 MS4 7 0 0 44 11 Al NL 2512 NL Fron 11 11 a Global KB Gubil II 54 I2tl Grw MM II 71 Vrortd II OS 14 21 AdiPtd 1445 NL IT ta .71 10JI t.U S3 CatMurMM Nl MFM MMH MSF GT Pec 11 Indvtr 11.00 NL NY TxF MIS NL N1tP.SC 7 71 NL Sumit Gate Op 14.41 Gen Etec Inv- Thomson McKinnon Option t.t NL AMEV Funds: Meschrt Etmin 11 a SeorTi 11 NL Eotyr M75 GMbir 14 Ot GvPlr Ma GvtV Mat GtOp 12 HiYld II Merrill Lrnch NL ErtnTr 37.04 Capltl 1147 11 7S Crwtll 11 I4.M sosci an nl Gwth 11 70 NL MCO 10 NL Opor 13 23 NL USGvt ma NL TaA4M.S7 NL TexEi SIM 10 OK 1401 1514 EltnTl MAS NL sas an NL US 1131 NL us Gvt i a wis USGvt N.S1 NL HVMr IS 00 CalTi MU NL Capit 21 72 33 33 CorpOv NO II JO NL Alliance Cap: -I-UHi! OPEN MON (AT AM 202 HALLETTSVILLE HWY. 77-A YOAKUM, TEXAS iWilg Tudr Fd 14 NL Inlfi Nt Trust Ponlono Gon Sec uneven Delaware Group Own II 15 as MuNY 1 OptGr 17 21 Otylnr ISA) GintetEr 14 r) NL CMC N.41 Mn Ginttt M.a lt M.S7 EoGth MN Nl Eflinc II ti NL Decot Ueiaw 11 II 71 HlVId inn IS a lt Mont in si Ew Bd 12 04 13 FedSc t.OS SI FdTm 13 44 NL Rich 1 74 Util 13 23 GrosEm N.M NL GrdsnEs 111 NL rt ts li a 7A1 in loth Century DUch TiFre Putnam Funds M.inc ta 143 7M 7i4 iGwmWin Svrvty lltsuis Tscfi lt S7 M.

Olt 11 34 1171 to M14 Delta CCArp 71 4t CCDtp a 71 4145 13 11.74 13 00 NL Grm tnd a nl Aloha it IT CG Gilt 1 13 I IS Grwth 1417 NL Inert 37 74 Nl Ultra 7 tf 7 A) USGv NO NL Vista Itt SOI CalTi 14)7 IS IntHM 11 51 17 9 InTrm II tt 1133 LtMet tTt IN Guardian Funds 1.1 Amar Capital If you're 55 or older, you've earned it! Capit 7)4 NL Bond II It NL Oil AG OITCI DG Div at NL 24D NL Cam 14.03 15 AtunHI 171 II PortAv Corp 711 7.7 Cmtn ll.lt IS Cntrp 11 USAA Group tt 44 1I 2S DodCi II 10 It EntRs I) 13 01 Georo 1344 II Muniln 7.42 7.71 PacFd 10 74 a 04 DodC St a 13 NL Ench Comet Mil GOM AO Premiums Vanish GrolK 1211 1) 13 Phnli 11 44 1114 oottTi a at Horn HDA 4.70 IS HortGth NW NL Hart Lev 12 NCI Fd Am 7I 11.71 GvSac II at 12.73 Hoantl AS a SclTctl tl4M7S Drexel Bumhem Grwth inco Son Grow tsn ftumh 8 74 7151 Htlnco lit) I) AS Hi Yld 15 33 44 Hewe! Ti l) SSj Hoortld UN 12.54 Spi Val 1) 44 14.37 NttRtc 171 NL Govt 0 00 NL HarDr 119 14 Ss Hi VW 11 KU Incom 7 IS 7A7 711 777 Mmelnv MAI NL IDreyhjs Grp T.EM TxE It IMoSc 11 AS 1251 S04 SI 14 a A Bnd U17 NL CalTi Ult NL TiESh MM NL IM Eo 11 41 23 MStFd ID NL rMunon Group With the new InterFirst Classic "Account! 70O7 InterFirst JtI InterFirst Bank Midwest Group andr 1141 NU Drevt a 14 40 Mun i lt.OS 70 00 OTC TS0MS Pan a a COO Provid 4.S7 41 van- 11 7 is 07 invest 11 07 13 NYTx IS 54 34 NL Genrt 113 COW M17 M.SH GNMA unavail imGv MN NL LG Gvt Mil II tnsTi laa nl Opm NM11S4 Opmil 11 a t)3S Emrr 13.17 NL Owrhr 1A5S NL vl Mn tl li II American Fundi 110 NL Gwth 834 NL inco 111 Nl IK III N- Mvlt IS N. Mutual ol Omaha: A Bal f7 11 Tax El 23 OA 34 31 TFHiY 13 73 NL Optinc IN Nu Gvric tN NJ Amor MS nl Lavte 17 22 MJ2 GtnOp Mt7 NL NY Ti 14.20 NL VXrAlV. Victoria m9 I 91 Investor's Guide By Bill Doyle King Fturf Syndicate, Inc. UniHd Funds 130 NL BOSK NJ4 NL Amcp 05 A Mufl le.7f II IS Bond tlJt 14 IS Eupac 1711 It .25 Grwth AA7 7 25 incom 115 MS Ti Frt MAI II S3 Nan MN 11.11 TFIns USGM Vista Voyai 14 41 1515 tl 11 1 17 44 os Spi inc 7 It NL TaiEx 1171 NL ThrdC 7 27 NL TX 77901 (512)575-4574 Member FDIC NY Mu N.4S M.OOt PrecM ta Nd Mttouai all nl Fd inv 11 at 14.71 S4.A1 NL HI SMI 1.71 Mvtlnr MAS NL EeglGm 7 54 134 Grwtti 11 75 IS Incom 11.21 12J7 QuettF IDS Mutual Eaton Vance: Nat Avid 11 45 Netind 13.33 NL 23 74 NL 4.59 NL is a rnt EHSfk 114 15.05 ICA 12.il 11.00 IIIHIll Raittbw ReaGr Accm 1)4 1 1. Bond 5i7 ic: GvtSoc 5.54 5 InlGth 143 7 03 Con Inc 17.51 tt is Hi Inc 13 St li at) incom IS 14 )t Mum A74 7 03 NwCcpt snsr Retire AM 444 ScEnt 1.31 M07 Vent St4 4 4t IDSAajr 7 25 NU IDSEa 4 It IDS Fdl SO 5141 Not Securities GvtC 13.11 11 NEco 10 49 a II Won 14 S3 1SA7 Rphtmo 37 14 NL RochTi Ml) MN lond a 1.04 Pen 1.41 1 1 TaxE N22M71 Ml WU II It IDStnr 5 71 NU IDS fid 4J7 505) BRAKE RoweTF unavait CsTiE 1IH13A1 Royca 1-34 NL IDSEdP 1.151441 AGrnFd 7 It 111 Grwth 0.73 7J4 HiYld 5.04 141 IncBos f.M 47 invest 1.51 ta MunBd I IS4 Naurtt 13.17 11 53 SpEat 10 44 10 SFTEst 33 11 IDS Dts AtS 7.11 A Horitg Sateco Socur: utd Services A Invest IDS El 4 1 IDS Grt Nil tt Nl 1.31 772 1 10 .71 FedSc llil 12 AS Grwth 131 tt) Prtvd 71 053 Incom AN 7 44 RoelE 154 ta StocH 0 40 M.B Tex El 0.O 1 57 GMSnr IN A inv In TlfYSTOFPiiJtii mimz.

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new Nbdas braki- sWsiir pads v. til br installed without charge tor the shoe or pads or the labor to install the shoes or pads. Additional parts and.or labor required to restore the system to ditumare extra. LtvGt It 74 NL MunBd at NL Spi Irt 13 21 NL NYTax MA7 NL TxFrO ot NL TlFrN il NL TiFrT) 7I NL 12 47 11 SS Grwm 14 a a Trot 52 UN km N.4S 11.42 CpC II NL Eidl 4144 NL I Gwfll 12 07 TaxFr 111 I UMB St IJ I UMB 07 I van Karnpen: ndustry ATI NL iittoCop 11.13 Nl! incom Mil 11 75 Ret Er 31 It 3A74 TaiEi 711 JMI Security Funds: FT lot 14 11 NL Fdtlntr t.M NL GNMA II I NL Gwth 12.B NL Action 1.77 InTiF IS 14 a TxFrH K-44 1S37 USGvt 151 M-71 Int ln. Ml Nouberoer Berm: BLC Gt M.I7 LC IK 11.09 17 SorttV U.tt I BOOcGttl 7S I vox i Kchanoe Enrpy H.aS NL Bond I.

IS IS4 Eojuty SM Sit Invest I tt Ultra 22 HI lem 13.11 11 i HIYM M.4) NL Equity 10.01 NL GvtPI 1.14 NL HiYM IN NL Optn 111 NL Mill 11.75 I getting his whole life insurance for free. He says he's had his policy for so many years that the dividends now are big enough to pay the premiums. This sounds too good to be true. Is it really possible? A. Even though your friend no longer has to pay premiums, he isn't getting his insurance "for free." He simply paid so much in previous years that the insurance company has collected a sufficient amount of his money and no longer has to charge him.

So-called "dividends" are paid bri "participating" whole life policies. Those dividends come from money the insurance company has left over, after meeting its expenses including death claims. Holders of that type of policy participate in the company's surplus money by receiving dividends. Your friend is using his policy's dividends to pay his premiums. When a participating policy has accumulated a high cash surrender value, its dividends can be equal to or larger than the policy's premiums.

This being the case, your friend no longer has to send money to the insurance company. Guard 5t Htmtt 7.47 LIMY 4 a Manht 144 Perm M.2S Seloclvd Fundi: Btnnam Capital: IT! Group: Inco MM Short M22 SIGvt MJl StlBd Mil Skxt It 05 NL CaTFL MB CapEl 70-44 NL DM 45 SI NL Diver NL ExFd 114.75 NL EXBN N3.23 NL FldEl 01 a NL SocFid 44 NL Am SM 13.40 NL SptSM Nil NL InvBot 11 Nil At CalTFI 10 07 NL CapNT M.7) NL NY Mun l.M Htlnco 14 15.11 Setttmon Group: MaTF 11 1 Hi Gt 3144 Fidelity Invest: Berger Group. copFd li nu cmsw ii uj) Newt inc 141 Inv leth 5.3) 5.721 CaJMu MOFd Ml Fd 1532 Nicholas Group: 1117 NL Vantuard Group: Conors 41D IvvGN 1S.11 Boston Cot NttkM 3171 Nidi II 1511 My wife and I have been approached by a salesman with insurance policies that have "vanishing premiums" after seven years. We both are 28 and, according to the salesman, each of us would pay approximately $1,000 annual premiums for $100,000 policies. The idea of never paying insurance premiums after seven years is very appealing and we've already received applications from the insurance company.

What is your opinion on this? A. Don't sign those applications and turn over any money until you have studied and understand all the details of the policies. You'll probably find out that your premiums would be higher than your wife's. That's pretty standard, because females have longer average life expectancies than males. Insurance companies have that all worked out on actuarial tables.

As with the gaming tables in Atlantic City and Las Vegas, the odds favor the house. Double-check to make sure the premiums can't be raised during the seven-year payment period. The policies might have provisions allowing the insurance company to raise the premiums, if interest rates drop and the company earns less interest on the money it gets from you. An insurance company invests the money it receives from premiums. Because you would pay all the premiums in seven years, the insurance company would have the use of your money sooner than if you make premium payments over a longer span.

As a result, the company would earn more by charging $7,000 in premiums over seven years than it would by charging, say, $10,000 in premiums over 20 years. While this arrangement might appeal to you, it also results in you losing the use of your money for longer periods of time. Chances are, you could do better by buying lower-cost term insurance and investing the money you save on premiums elsewhere. Of course, an insurance company doesn't get all the premium money you pay. A goodly chunk goes to the salesman.

It comes as a shock to many people to learn that, in states where insurance regulations allow it, all of the first year's premium goes to the salesperson on some policies. Q. A friend of mine claims he is Contfd 11.09 CTAB M.a CMtnr II Ottcv a Nclllnc 1 tl Ivylnst 135.04 NL JP arm ISO JPInco O.tl tAt CapA 10 Mgdl 1145 SpGm 10.71 BOwter 2.31 race 75 07 NKMn Gt 13.04 NL NE InTr II St NL NEInGt 1A33 NL Janus Fund: Eflinc 27 0) 27 Expo- 3)14 NL Explll III NL GtfflaT M7A NL Mart HO NL NanT S7.M NL Prmcp NL 0011 lt.0 NL GOivll IJ3 NL QOvlll Hit NL STAR 11.04 NL Fund UM NL Value 11.44 NL Comua a Growth 5 04 4 9 Inco TI U.tl MMT 7.A7 lil MichTl 7 71 l.M MMTl 7 7.71 NetlTx 7.S1 7N NY Tax 7.9 I.N OMoTl 7.40 7J CaTax tio AK CaTxO t.1) 4 42 GovGtd 7.74 IN Hivid lai la Mtt Sec 741 I.N Eich 52 a Fidel 17.11 North Star: nil It toar Gp: 0.1) NL Vontwr 23 FleiBd t.N NL CapMS 14.12 Bond 70 07 NL Mhn NoMCOcki Fredm UM Eomty ot lond unavail Gokn tao Gvt Sac t.S NL Hilnc 1.13 NL ttoett Grwth UAI I4J7 MJt NL MYM USGv Hi YM NL NL Tt.23 NL 13.72 NL I4AS NL IN NL 22 14 2507 NL LtMun 77 NL Tat El M.N US GvT MAI llAti Sentinel Group: Moool 4114 41 OtdOom Omooo Kaumn 1.11 NL MunBd 7J4 MossT SI Fd KomporFun CalMun N.4I Calvert Group: Equitf Inco U.13 Social "at TxFLt a.S7 TiF IS Wtt 15.M Calvin ui loci: CalTi 13 nil eun 11.17 and AO 7.14 Cam N.71 11)1 Grwm IS AS 17 IRUOHt 42 NL Marc IS 74 1425 Tcint tin TCUta 34 11 GNMA ti? HIYM IN IGInd IB ShrtTr N44 Ind Tt 33 44 MuHY 1.70 Mulnt 11 a MuLt O.N MIOL) MM MuSM is a VSPGd oil vsPMt 14 a Incom let 0. MMSc M.J7 It .47 1 a we 44 JM 1.0 M.41 11.41 AIM Direct Erik Oppen Gold NYHYd 11.11 NL 88 if i I JQ) PER AXLE 1 I MOST CARS LIGHT TRUCKS I Ft Mi FOUR FROST PADS 08 All FOUR REAR U-H SHOES WITH LIFETIME A WARRANTY'- Xt I rf OTHER PARTS AND I I LABOR REQUIRED TO I RESTORE BRAKE 4 7 SYSTEM TO SAFE 1 I I OPERATING CONDITION I AVABLE ATPARABLE Oner 11A3 13 71 HI YM M.SS 11.31 Sentry 12 41 lie) Slvtorton Funds: OTC 14.02 IS. Ovrta H3I 10.

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Do you agree? A. Not for one minute. Next time that agent shows up at your house, lock the door and don't let him in. Quick arithmetic shows you would lose $2,050 in early withdrawal penal-ties by going along with that peddler's proposal. Even if the universal life policy turned out to be a reasonably good thing for you over the long FnclTl I4.S4 NL tine wouusf Agrw 11.44 13 Sigma Funds WPG 33 NL MS 0 43 03 HIYM lit NL Grwth 14 01 14.

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Fund 15.54 M. GvSec tl.M It. Grwth tt 11 StheotGr M.73 NL Swlnlnc 4.17 NL HOURS: 8:00 a.m. to 6:00 p.m. PNUJ I GNMA 7.N Grow 141 Sever In 33 37 23-55 jcherei may apply.

Res. 17 a NL Ftioentx iprlok laian unavail CvFd unavail Slate Bond Grp ttx dividend. NYTF 13 04 1144 ft-M 13.J4 13.40 Opm Tea In t.B M.M Liberty Family: HI Ytd 7 10 Incom 7.17 Oprlnc 7tl Coma 5.01 A4t 5aL a.m. to p.m. B6407 Hallettsville Hwy.

573-0727 run, there's no reason in the world for you to take that immediate financial NL Am Ldr tl Divert AO 1.51 TiFre IA4 NL Flagship Group: Optl II 11.U 12 HIYM unavail Lit Oil EiBBEaDBBBaaBBOBBBaD Keep your CDs. p. -r-.