The Miami Herald from Miami, Florida • 189

7-BWoooo the MIAMI HERALD Wednesday March 26 1980 DICK DAVIS Farm Credit Banks Note to Reach 17 SHORT-TERM INCOME-oriented investors will be zeroing In on offering by Federal Farm Credit Banks a US government agency of a six-month note at a yield of 174 per cent and a nine-month note at a yield of 17 per cent Because they are not direct obligations of the US government the yield is higher than on a US Treasury note In safety they are a notch below a US Treasury obligation but ahead of a AAArated corporate bond The Federal Farm Credit Banks is a nationwide system of 37 farmer-owned banks that work under the supervision of the US Agriculture Department The notes can be bought through your stockbroker with a minimum purchase of $3000 THE PRITZKER FAMILY is continuing to buy the stock of Levitz Furniture A form 13-D filed in mid-March reveals that a month after Levitz rejected the Pritzker $27-a-share takeover bid the Chicago family purchased another 1 18000 shares That raises the Pritzker holdings to 17 per cent Levitz reportedly turned down the acquisition offer because it was too low DESPITE WIDESPREAD belief on Wall Street that the peak in interest rates is yet to come several major institutions have begun bond buying programs including Bernstein Ma-cauley Pittsburgh National Bank and giant Bankers Trust Says Gilbert Rotchford head of the bond department for Bankers Trust in the Portfolio Letter have been moving into the long-term market betting that interest rates at current levels will represent very good long-term values We think interest rates will drop producing a 20-25 per cent return over the next 12 months and it could come sooner rather than LAST SPRING IBM hit 80 this spring it is selling in the mid 50s its lowest price in five years Reasons include high interest rates which are causing users to persist in leasing rather than buying IBM computers currency losses abroad revenue from other income which has suffered because of the weak bond market expected lower earnings in the current first quarter compared to $114 per share last year and the lowering of 1980 earnings estimates by Wall Street analysts CALIFORNIA-BASED Oak Industries is expected to complete its purchase of Hallandale TV station Channel 51 (WKID) next month for $41 million Oak began selling its over-the-air subscription television service on Channel 51 in January and as of March 9 it had 5200 subscribers Oak Industries is the largest operator of over-the-air subscription television COUNTRY MISS is a small company in the casual apparel business that is experiencing a sharp recovery in earnings Reports the Portfolio Letter Securities analyst Jerome Ballan says the company combines merchandising fashion and financial expertise He thinks it is an ideal acquisition candidate Fiscal 1978 earnings were $138 per share last year it earned $253 and for fiscal 1980 Ballan expects $350 to $400 per With only 776000 shares outstanding the stock is quoted OTC up from 4 last year IN MAY MATTEL will introduce its new $875-toy called Intellivision backed by a 10-million promotion program Most companies been able to make consistent profits from high-priced video games And makers of home computers reached the masses By promoting its Intellivision as a cross between a prograable video game and a home computer Mattel hopes to tap two markets Dick Davis whose column appears Monday Wednesday and Friday is an employe of a member firm of the New York Stock Exchange If you have any questions write to him in care of The Miami Herald Business News Desk 1 Herald Plaza Miami Fla 33101 CCF FLEXIBLE PASSBOOK CGF STATEMENT ACCOUNT Daily interest No penalty for withdrawal Telephone Transfer more than commercial banks pay No transaction charges Emergency cash nationwide insured by an agency of the US Government WITH AN ANNUAL YIELD OF $1000 minimum deposit Daily interest No penalty for withdrawal yA more than commercial banks pay No transaction charges insured by an a'gency of the US Government NOW PAYING JS1JHI I UtPilllllllJU KiiurfBi TlrihWii Pftb ki tim nirrtri iwnfir- NOW PAYING CGF 22-YEAR CERTIFICATE $1000 minimum deposit more than commercial banks pay Guaranteed rate for 2'A years insured by an agency of the us Government Daily interest Vry EASY TAX TIPS V'1 Jr george watson smith cpa EFFECTIVE ANNUAL YIELD pst jiLyLi wiiiiinpijmiinffwi iipwipiijiuiiiiu mi iwiiiijuwif ii i nwjJimum imm mm dtxwfr tit i-im-i yayn rmtr Yim-i iTtrH-iii--frfrf-Hrfinirttw inim lyi ilka nffoxwito i sa aw las tastikirifatiLiMiM MOVING UP You just received another promotion and the pay raise that goes right along with it Want to save taxes? Try investing in tax-exempt bonds Interest from the bonds is exempt from federal income taxes and may also be exempt from your state income tax As your income tax bracket increases the after-tax yield on taxable securities could very well be less than a lower yield on tax-exempt municipal or state bonds This difference is compounded as your tax rate goes up SHARE CROPPERS If you produced crops or livestock on land belonging to another person for a share of the crops or livestock produced on that land or for a share of the sale proceeds you are considered to be self-employed You may have to include Schedule SE Computation of Social Security Self-Employment Tax with your Federal income tax return SUIT YOURSELF Foreign income taxes paid to a foreign country or US possession may either be deducted if you itemize or claimed as a credit against your US income tax liability IRS Form 1 1 16 must be used to claim the credit and it calculates the limitations MARCH 27 THRU APRIL 2 trj CCF 6-MONTH MONEY MARKET tdo CERTIFICATE $10000 minimum deposit Guaranteed rate for 6 months insured by an agency of tne us Government Savings Insured for safety to $40 000 by a permanent agency of the Federal Government On certificate accounts there is an interest penalty for early withdrawal Federal regulations prohibit compounding of interest on 6 -month money market certificates Money Markel Funds Funds with assets of $100 million or more that art available to individual In All The World There Is Only One investors MarriH Lynch CMA Manay lm 7 Merrill Lynch Pdy Ant 10474 Midwait Incoma 104 1 Monaymart Ati 1S73 0 NCL Ch Mgmt ACCt 7010 National Liquid Patarvai 136 ft Opoonhoimor Monetary 377 4 Paine Webber Cathtund 2271 4 Putnam Dally Olv Truit 117 Peter ve Fund 1147 0 Powo Price Prime 1004 7 Scuddor Cash Inv Truit 155 ft Scudder Mged Patarvai 463 Shaarton Daily Dividend 1437 3 SteinPee Cash Peterves 747 3 TempPund 2170 7 Union Cash Mgt Inc 744 I Webtter Cath Poterve ft Whitehall Money Mkt 245 2 178 123 11 1 13 4 137 14 0 137 131 17 4 14 2 134 14 4 12 1 13 7 13 7 14 4 13 13 43 A BILLION DOLLAR ASSOCIATION Oenoghwe't Money Fund Avg Yield rapraeents annualized return to shereholders for the peat 30 day pen-od Past raturns art not indicative of future yields DADE Coral Gables2511 Ponce de Leon Boulevard Sunset 1541 Sunset Drive Homestead 1101 No Krome Avenue Perrlnt17401 97th Avenue (Pernne Shopping Center) fk Bird Road 9600 40th Street West Miami6400 8th Street North Dade '17940 27th Avenue (Carol City Center) Sunlland 11765 So Dixie Highway (Sumland Shopping Center) BROWARD Tamarac Commercial Boulevard State Road 7 (Sunshine Plata) Colony West McNab Road at Pine Island Road In the Shops ot Tamarac Lighthouse Point3050 Federal Highway Hollybrook Douglas Road at Hollywood Boulevard Pembroke Pines Margate 5741 Margate Boulevard (Margate Shopping Plata) Inverness 5590 West Oakland Park Boulevard (Inverness Plata) Sunrise 8370 Sunset Strip (Sunset Square Shopping Center) Lauderdale Lakes 4119 State Road 7 (Oakland Shopping Center) Coni Springs 3305 University Orive (Coral Springs Mall) PALM BEACH Sindilloot Cove Sandalfoot Cove Shopping Plata State Road 7 Just North ol Broward Palm Beach County Line Town Centsr-Boci 21150 St Andrews Boulevard (Village Square) Boca North 3785 North federal Highway tarn A a TtVf4MlAl IfttlHM Yield reduced by service fee This fund charges $100 one-time new account charge Manager absorbs portion of fund expanses or management fee Source Donoghue Money Fund Report a.