Public Opinion from Chambersburg, Pennsylvania • 24

DUSIHESSFLnrtl 8B Public Opinion, Chambersburg, Saturday, November 16, 1996 Dow Jones hits 8th straight record high Creler9 mears 6 lifelong dream9 AOVeRTJSEUENT -J -r in a reversal." The Dow, which had risen more than 60 points in the morning, fell to a level even with Thursday's close. Then it began heading up again. Moore said the favorable fundamental economic picture remains, "But within that uptrend there's still the potential for a reaction, which would be normal and consistent with past uptrends where stocks react negatively." A variety of computer hardware and software issues which have been rising sharply lately on news of soaring profits failed to recover with the rest of the market. Intel fell 4 to 115. Microsoft lost to 149.

Modem maker U.S. Robotics fell 1 to 66 However, IBM gained 8Vs to 145. A Merrill Lynch analyst raised his 12- to 15-month price target for the stock to $195. Banks, which benefit from the current economic environment of low interest rates, remained strong throughout the day with Republic Bank of New York up 2l4 to 82 Fleet Financial up lto to 52 and Bankers Trust-New York up 1 to 84 VimpelCom, the first Russian firm to trade on the New York Stock Exchange, debuted strongly. The cellular phone company was offered at $20.50 and rose to 29.

ITI Technologies a St. Paul, maker of wireless security systems, plummeted 186, to 11 on the Nasdaq after announcing that its biggest customer, ADT Security Systems was reducing orders. Health Management Systems, a New York-based provider of data processing services for hospitals, fell 7 to 14 after forecasting its quarterly profits would be about 15 cents per share, well below analyst estimates of about 22 cents. The company said a client had questioned its fees. NEW YORK (AP) A volatile day on Wall Street ended with stocks mostly higher Friday.

While the Dow Jones industrial average achieved its eighth straight record high, many technology issues got hit with profit-taking. The Dow gained 35.03 points to 6,348.03. Advancing and declining issues were about even on the New York Stock Exchange, where volume was a brisk 526.64 million shares, up from 478.57 million on Thursday. The Standard Poor's 500-stock index gained 1.74 to 737.62. The New York Stock Exchange composite index was up 1.01 to 390.02.

The American Stock Exchange market value index gained 0.05 to 585.41. However, the Nasdaq composite index, a bellwether for the technology sector, was down 8.56 points to 1,261.8. The day began on an upswing as government statistics on industrial production and factory capacity utilization for October came in lower than expected. Charles White, portfolio manager at Avatar Associates in New York, said the stock and bond markets continue to be confident that the economy has slowed to a rate that won't spur inflation. "Slow growth in a low-inflation environment is the ideal environment for financial assets and we're seeing that with the Dow on its way to 6,400 and bonds headed for a yield in the range around 6.3." Adding to the buying boom was this week's expiration of futures and options, which usually lends volatility to trading.

Traders got jostled about 1 p.m. as the Dow turned suddenly downward, a move that came as no surprise to A.C. Moore, portfolio manager at Dunvegan Associates in Santa Barbara, Calif. "We began to see over the last two or three sessions a feeding frenzy that usually culminates Superstore to open next week By MELVIN DURAI Staff writer SHIPPENSBURG BiU Cressler Jr. strides around the spacious new building on the southern edge of town, giving orders, making suggestions and answering questions.

Dressed in blue Dockers and a matching Penn State sweatshirt, the vice president of Cressler's rruit Market blends in with dozens of workers as he hustles around, making sure the work is done right. Two years of planning have come down to a few days of BiBCresslerJr. almost non-stop work. Tuesday is the grand opening of Cressler's Marketplace, a new grocery store replacing the old one, and there's still much to do: stocking shelves, pricing items, setting up signs. "I don't have time to get excited," said Bill who this week has worked as much as 19 hours a day.

"Just trying to get it done." His father, Bill Cressler pauses for a moment to reflect on the new building and new image for the family business, a mainstay in this town since 1932. "It's a lifelong dream," said the company president. "We should have done this 25 years ago." With more than twice as much space in their new store, the Cresslers have added a number of trendy features, including a cafe, bank, seafood department, floral shop and salad bar. They're also stocking thousands more items than before, including 66 kinds of mustard. y1' Kona switch angers consumers (li.

-f. 1 I Annual Gift Program If you're looking for the right gift to give this year, maybe we have just the thing. An annual gift program may be an excellent way to reduce estate taxes and keep assets within a family. Everyone is eligible to give as much as $10,000 per year per recipient (donee) without incurring gift tax consequences. Therefore, a married couple may make joint gifts of $20,000 per donee per year without incurring gift tax consequences.

As an example, if Mr. and Mrs. Smith had a combined estate of $2,000,000, approximately $245,000 is due in federal estate taxes at today's tax rates and after taking advantage of their $600,000 exemptions. This does not reflect state inheritance or death taxes, if any. If Mr.

and Mrs. Smith were to start a gift program of $20,000 per year to each of their two children over a five-year period, they would gift a total of $200,000. These gifts would reduce their federal estate taxes by $66,200. They would also reduce their combined estate by the income and appreciation in value the $200,000 would generate, thus realizing even greater tax savings. Gift Procedures: Under the gift tax laws, the donor must be giving a "present" interest in the property in order to qualify for the $10,000 annual exclusion.

Usually, this means the donee must have complete access to the funds. This might be very unsettling if you are contemplating making gifts to a 13-year-old. There are, however, ways around this concern. You may also make gifts in trust which qualify for the annual gift tax exclusion for a minor child even though the minor child has no access to the funds. This type of trust would generally provide for the income and principal to be used for the benefit of the minor until he or she attains the age of 21 years.

This is an excellent way of providing for a college education. Any income or principal not used passes to the minor when he or she attains the age of 21 years. Assets to Give: When considering making gifts, keep in mind that gifts do not have to be in cash. Stocks, bonds, real estate or any type of asset may be gifted. Assets with future appreciation potential often give greater estate tax savings than non-appreciable assets.

For example, if Mr. and Mrs. Smith gave their children $10,000 in stock which paid no dividends, but doubled in value over the next five years, they would reduce their eventual taxable estate by $20,000. But, if they had given their children a $10,000 municipal bond that generated $3,500 in income over the same five-year period, they would have reduced their estate by only $13,500. It's important to realize that the $10,000 annual gift includes all gifts given in the calendar year.

So, if you've given for special occasions throughout the year, those funds are part of the $10,000 limit One method of gifting more than $10,000 that some people use is to pay medical or education (tuition and books) expenses directly to the provider on behalf of another person. One last note: Pennsylvania inheritance tax rules pull amounts over $3,000 back into the deceased's estate if the gift was made within 12 months of death. Several benefits may be realized from a well-planned gift program. If you are considering taking advantage of the annual gift tax exclusion for this year, the deadline for action is December 31. (Next week: Capital Gains Losses) This column is published weekly as part of a continuing series on financial topics.

The author is a Certified Financial Planner Assistant Trust Officer at Trust Company. ADVERTISEMENT BALTIMORE (AP) Allegations that one of the nation's largest distributors of Hawaiian coffee replaced Kona beans with more mundane Central American beans has sent a wake-up call through the industry. "We've been taken for a ride," said Nick Constantinides, president of Baltimore-based Eagle Coffee one of the biggest importers of the suspect Kona on the East Coast. "We've been in the coffee business for 75 years, and this is the first time anything like this has happened." As a safeguard, Eagle is recalling roughly $15,000 worth of rfVf Air i mri fi i A i i 1 PuUic Opamn)asai Milmom Lois Knipple, all employees at the new store) opening next week. toes and other hot foods, as well as store-cooked turkey, ham and roast beef They can get drinks at the self-serve soda fountain beside the salad bar or the coffee bar beside the bakery.

An enclosed 38-seat dining area beside the checkout area allows customers to eat their food while it's still hot. "We wanted to make this a nice place for people to come here," Bill Jr. said. "For us to compete with restaurants, this is what the grocery industry has to do." While creating a modern image for the store, the Cresslers celebrate the past with five historical photographs hanging above the aisles. One 9-foot long photograph shows store founder Frank S.

Cressler, Bill father, standing in the produce section of his store with his father, A.B. Cressler, and some workers. "To me, it just creates the hometown atmosphere," Bill Sr. said. "A lot of old people remember the store the way it used to be." The store's deep roots in the community have helped it compete against chain stores, the Cresslers said.

"Being a small, independent, it's tough to compete with the big boys," Bill Jr. said. "But we've taken care of our customers and we're community-oriented." Bill Jr. hopes the new location draws more customers from Chambersburg, Scotland and Greenvillage. He also hopes to attract local residents who've been shopping at larger stores out of town.

Said Bill "There's no reason to shop elsewhere." WHATS NEXT Cressler's is hosting an open house from 6 to 930 p.m. Monday. A ribbon-cutting ceremony will take place at 7 a.m. Tuesday. The store will be open from 7 a.m.

to 11 p.m. every day. will be a demonstration on how to obtain information and conduct business. The new Agronomy Guide will be reviewed. Call the extension office (263-9226) for registration information.

COMING EVENTS Wednesday Franklin County Holstein Tour to Centre and Huntingdon counties. Wednesday, 10 p.m. Dairy Feeding Meeting, Kauffman Community Center. Dec. 11, 9 a.m.-8:30 p.m.

Ag Computing and Electronics Expo, Eden Resort, Lancaster. William Reagan is senior agent for Penn State Cooperative Extension, Franklin County. Acquisition PURCHASE PLAN: Voters in Jefferson County, W.Va., on election day approved a referendum permitting the installation of video lottery terminals at Charles Town Races, a live thoroughbred racing facility. Consequently, Penn National Gaming through its joint venture with Bryant Development will exercise its option to purchase the Charles Town race track for about $16.5 million. Penn National Gaming owns the Off-Track Wagering parlor in Chambersburg.

From left, Brian Biedel, Marc Ocker and Monte Cline, aO employees at the new Cressler), stock canned food for the store's opening next week. From left. Bill Rudge, Mary Black and Cresslers, prepare greeting cards for the The Cresslers visited more than 15 grocery stores, some as far as Richmond, to get ideas for the new store, built on idle land at 1075 W. King about a mile south of the old store. Bill Jr.

said he spent seven months looking for his white-lettered produce signs, which give shoppers nutritional information and tips on selecting, storing and preparing each vegetable or fruit. "I think the consumers will love this," he said. The Cresslers are increasing their emphasis on customer service. The new store, with about 200 employees, almost twice as many as before, will have more workers to bag and load groceries. Food preparation areas are visible to customers, allowing them to ask questions and get help.

The 6tore will sell many ready-to-cook and ready-to-eat foods prepared in the store. "That's where there's a lot of emphasis in the grocery business," Bill Jr. said. "Nobody has time to cook." Customers may buy pizza, rotisserie chicken, mashed pota- mation, contact us at the extension office. Ag service schools The 1996 Ag Service Schools will be in November and December at various sites around the state.

The closest to us will be Dec. 11 at the Embers, Carlisle. The school is for anyone in the ag service area that deals with crops. The program will run from 8:30 a.m. to 3:30 p.m.

and will cover topics such as using crop rotations, technology update on herbicide tolerant crops, and leaf hopper resistance in alfalfa. There will also be information on poisonous plants in Pennsylvania covering identification, toxicology and control. Crop diseases in 1996 will be discussed after lunch, covering corn, small grains and soybeans. For those of you into the World Wide Web (or want to be) there categories. She has a decade of experience in the insurance industry, and previously worked as a stock broker and investment counselor.

New site WAREHOUSE: Distributors, distributors of fund-raising and business incentive merchandise, recently opened a warehouse at R.R. 2, McConnellsburg. The warehouse enables nonprofit clubs, fraternal organizations, fire companies to pick up merchandise and fund-raising supplies at a discount every Wednesday from 8 a.m. to 5 p.m. Use your microwave oven to help preserve autumn's beautiful colors Kona from Giant supermarkets in Maryland, Washington, D.C., Delaware, New Jersey and Pennsylvania.

The distributor, Michael L. Norton, was arrested last week and charged with fraud and money laundering. Authorities also seized or froze more than $3.3 million in assets that belonged to Norton, owner of Berkeley, Kona Kai Coffee. Now some customers who have paid as much as $25 a pound for beans that may be worth less than half that are beginning to question their coffee connections. sealer will keep them from cracking and enhance their colors.

You can then use these leaves in your arrangements. Ag computing expo The first Ag Computing and Electronics Expo will be Dec. 11 at the Eden Resort in Lancaster. This workshop is for the novice who may only know where the covering all major areas of the insurance field, and passed five comprehensive exams. Taylor, Shippensburg, has been with the agency for 20 years and is office manager and supervisor of the Personal Lines Department.

Burnhisel, Newburg, has been with the agency for seven years and is the Commercial Line Department supervisor. Excellence RURAL AWARDS: Three Chambersburg residents were recently honored at the 25th annual conference of Rural L. iiXuJ WILLIAM REAGAN Many people have varied uses for dried leaves throughout the year, whether it be for dried flower arrangements or some other use. Preserving leaves is simple using your microwave. Simply lay a single leaf or several leaves on two sheets of paper towels in the microwave and cover them with a single paper towel.

Operate the microwave for 30 seconds to a minute on the high setting. Be sure not to overheat and set the paper towels on fire. The more moisture in the leaves the longer the time you will run the oven. When you take the leaves out of the oven, lay them aside to further dry overnight. If you notice curling, they weren't dry enough coming out of the microwave.

Once completely dry, you can spray them with a sealer. You can purchase the sealer at most department stores. The BRIEFCASE New at work HIRES 3: Chambersburg Broadcasting Co. recently hired Cathy Zink as community service coordinator for WCHA, Lori Gloss as office manager of The Franklin Shopper and Sandi Colwell as receptionist forMK95 and WCHA. Certified EARN DESIGNATION: E.

Kay Taylor and Robin L. Burnhisel of G. Leonard Fogelsonger Agency of Shippensburg have earned the designation of certified insurance service representative. They completed five courses, onoff switch is to the very experienced computer user. It will run from 9 a.m.

to 8:30 p.m. You can attend as much or as little as you wish. Topics covered will be things like "You Bought a Computer Now "On Ramp to the Internet," "Booting Up Profits," "Pesticide Record Keeping," "Farming From Space" and "Fields On Screen." There is a trade show featuring 45-50 exhibitors displaying their software, hardware and other equipment. There will also be a farmer panel to explain how they use computers. (One of the panel members is Clifford Hawbaker from Chambersburg.) The expo is co-sponsored by Penn State Cooperative Extension and the Pennsylvania Farmer.

This is an excellent program if you have an interest in computers. For registration infor Opportunities in Rochester, N.Y. Joseph Allen won the 1996 Farmworker Advocate Hall of Fame award. Eileen Stecher and Christy Robinson won Years of Service awards for service over five consecutive seasons. TOP ASSOCIATE: Betty Lou Hawbaker, Chp-ibersburg, has been named Associate of the Year by Mutual of New York's Mid-Atlantic Group.

The award recognizes her outstanding contributions to the agency's success. Hawbaker led the agency in production in five.