The Daily Register from Red Bank, New Jersey • 45

ti SUNDAY, OCT. 16, 1988 The Sunday Register 7D An odd swap, reorganization rights and commodity gurus lay Goldinrjcr information regarding these publications. I also understand that he publishes a newsletter, so request a sample copy when writing him. The other commodities pundit is Larry Williams, author of How I Made $1 Million Last Year Trading Commodities. The book is published by Winsor Books, P.O.

Box 280, Brightwaters, N.Y., 11718. Commodity markets are volatile and so investments in them are risky. Be sure to work with an experienced commodity broker who has been both through both the good and the bad times. Good luck. Jay Goldinger will answer your questions on investments either through his column or personally.

Contact him in writing at Capital Insight Brokerage 190 N. Canon Drive, Beverly Hills, Calif. 90210. port. After Ive had a chance to look at a few issues, Ill give you an update on its track record.

Q. I am convinced that infla- tion is on its way back and the recent increases in grain prices in the Mid-West will further cause inflation to heat up. I am not an experienced commodities trader, but I believe there must be money to be made in the market in the next six months to a year. Can you refer me to reference books that will bring me up to date on the commodity rules, regulations and the basics of commodities trading? A There are two real gurus of the commodities trading. One is Bruce Gould.

He has written two books, How to Make Money in Commodities and Commodity Trading Manual. You might want to write him at Box 16, Seattle, 98111 for Q. I want to give a car of mine to a neighbor in exchange for 100 shares of stock. What is the process of transferring his stock certificates into my name? A. Publicly traded stock should be reviewed to make sure there arent legends or restrictions attached to it.

After the review, your neighbor must sign the back of the certificates or stock power slips for each certificate. The certificates should then be forwarded to the companys transfer agent. In the case of privately held stock, you should seek legal advice concerning the trade since may not be transferable. Since swapping assets is a capital transaction, it may generate a gain or fass for either party based upon the acquisition cost of the asset ana the current fair market value at jthe time ownership changes hands. This gain or loss should be claimed on your income tax return.

What happens when a com- pany, under reorganization, repurchases its own common stock on the open market? Does it return to the underwriter? What about dividends, voting rights and other privileges? A. When a company reorga- nizes, it financially restructures itself. This usually occurs under the protection of the Federal Bankruptcy Code. The company, with the help of the bankruptcy court, works out a plan to pay off creditors claims. Sometimes during a reorganization period, a voting trust is created.

The trust is limited to a five year life (it can be extended). From such a trust, voting trust certificates may be issued. The certificates are issued by sued but cannot pay or accrue dividends. More and more newsletters are offering 900 number hotlines that allow their subscribers to call for up-to-the-minute trading information. How successful and worthwhile are these 900 numbers? Do you think that their recommendations are the cause for the high volatility of the market? A Most of these hotlines are relatively new.

The only service that I could find that monitors these telephone numbers is called, appropriately enough, Investment Hotline Monitor. It is published by Scott Eagle, P.O. Box 19758, San Diego, 921 19. It analyzes the trade recommendations and overall track record of the hotlines. I have just received my first issue of the monthly re high-performance computer lines.

As a result, we will also need to fill approximately 75 new manufacturing and materials positions in New Jersey alone. Consolidation will reduce the companys marketing expense by some 10 percent worldwide, he said. In addition, a number of positions within the marketing function have been eliminated because of a shift in the ever-changing mix the voting trust to stockholders in exchange for their common stock. They offer all of the rights cf common stock except voting rights. The common stock is then registered on the books of the corporation in the names of the trustees.

Should a company choose to reacquire stock in the open market, the stock is then known as treasury stock and in most cases will be either retired or used for resale purposes (stock options, conversations, Treasury stock is is cials said the move would make Concurrent a major force in its market in real-time computers. James P. McCloskey, vice president, finance, treasurer and chief financial officer, said that phasing out our production operations in Westford, and consolidating all production facilities in Oceanport and in Cork, Ireland, will contribute to an increase in manufacturing efficiencies for our Concurrent consolidation complete; factory workers needed ployment here and a reduction in its worldwide operating expenses, the company said Friday. MASSCOMP proposed the merger through a buyout of Concurrent stock in January. Concurrent agreed several months later, and the deal was proposed to the Securities and Exchange Commis-' sion, which approved it last month.

At the time, company offi flNTON FALLS Concurrent Computer Corp. says it will ned more help now that the merger between the old Concurrent and a Massachusetts firm is complete. (Concurrent, which recently completed its merger with Massachusetts Computer completed consolidation plans which wilt result in a net increase in em- Dsric rictss New bank chief TINTON FALLS The Board of Directors of the newly chartered Tinton Falls State Bank have announced that Gerald F. Murphy has been appointed chairman. Murphy, Little Silver, senior vice president of the V.S.

Hovnanian Group, Howell Township. He is also a licensed real estate broker and is president of Hovnanian Realty as well as a director of Riverside Savings Bank, Riverside. I At United Jersey RED BANK Carlo J. Montisano has been elected to the Advisory Board at UJBCentral, N.A. Montisano is president of the Light Manufacturing Plant.

He resides in Red Bank. Also, Thomas P. Smyth of Marlboro, has joined UJB Central, N.A. as regional vice president. His responsibilities include managing the Asset Based Lending and Leasing portfolio of the Banks Commercial Lending division.

New CEO OCEAN TOWNSHIP Jerold L. Zaro has been elected chairman of the board of Ocean Independent Bank, 901 West Park Avenue, Cobblestone Village. The 37-year-old Zaro had been a member of the Regional Advisory Board of Directors for National Community Bank of New Jersey, a position he held prior to becoming a director of Ocean Independent Bank. of skills for that type of organization. Several other personnel within marketing have been transferred to other departments to take advantage of their particular strengths and skills.

The company, which has some 500 employees engaged in product research and development, also eliminated a number of redundant positions within its engineering organization, as well as some ad lf Get up to $500 when you open or add to ministrative functions. Masscomp and the former Concurrent completed their merger on Sept. 27, and Masscomp then changed its name to Concurrent Computer Corp. James K. Sims, the then president and chief executive officer of the former Concurrent, was elected chairman of the board, president and chief executive officer.

19XN First Fidelity Bancorporation We think FIRST FIDELITY Passbook Plus will be the best savings -account youll ever have. In fact, were offering you a Cash Bonus of up to $500 to prove it. It is a great new way to save with the convenience and easy recordkeeping of a passbook account plus the competitive advantage of a variable-rate account. If you open a new Passbook Plus Account or add money not already on deposit at First Fidelity to a Passbook Plus Account, we will give you up to $500 as a cash bonus. For example, if you deposit 5,000 you qualify for a 25 CASH BONUS $10,000 $50 CASH BONUS $25,000 $125 CASH BONUS $100,000 CASH BONUS Get all these Passbook Plus benefits.

High Variable-Rate Interest. Rates are adjusted periodically to assure you a competitive rate. Easy Recordkeeping. Your Passbook Plus Account serves as your daily financial diary. FDIC Insurance.

Dont miss the Cash Bonus and extra benefits of First Fidelity Passbook Plus. The Cash Bonus is a limited offer and can be withdrawn at any time, so ACT NOW -and open your Passbook Plus Account today. Stop in at any First Fidelity banking office or call: 1-800-CALL-FFB Monday through Friday from 9 am. to 5 p.m. The Passbook Plus inicrest rale mav var and will be established bv the bank each month, effective lor the entire calendar month You must maintain a $5,000 minimum daily balance to earn the higher variable interest rjte Ask for account details Accounts closed at an time prior to the end ol the month will not earn interest lor the month The entire initial or new deposit amount must remain on deposit lor six full months to earn the cash bonus The cash bonus is equal to one hall ol one percent ol the amount deposited up to SI 00.000 It withdrawn prior to the six-month period, the cash bonus will he automatical!) deducted Irom vour account More local EVERYTHING NEWS SPC3TS BUSINESS POLITICS ISSUES EVENTS and The Register Call 542-0800 and well bring it to your doorstep FiliST FIBaUTY Bam yjjf twa .) Member FDIC 1.