Fort Worth Star-Telegram from Fort Worth, Texas • 8

Monday Morning July 10 1972 8-A FORT WORTH STAR-TELEGRAM IT'S LOVE IBMINORT SIAMMIX1111 HOUSE LEVELING FOUNDATION REPAIR-PIER AND BEAM MICK OR SLAB LEVELED AND STABILIZED SLAB HOUSES RAISED LEVELED PIERED REPAIRED 332-1621 MULLINS 834-9921 IT'S ONLY MONEY Tax-Exempt Bonds Gaining Favor With Small Investor l- 110 co 14 1 '') I I '-0 1 i i I -1 '4) Le(4 1 4 1 I 1 7 Nt i A 0 1-11 kki i ROCK GEM and MINERAL SHOW every day at Southwest's largest rock shop LIVING TEXTBOOK QUIZ Answers on Page 9A July 10 1972 These questions can be answered in a few words I Federal agents last week arrested nine persons in an alleged plot to smuggle munitions out of the United States In what Texas city did the arrest a of a banker and a former immigration agent take place? 2 On Monday two sections of a divided nation announced an agreement on principles of reunification What country was involved Vietnam Germany or Korea? 3 How long has that country been divided? 4 The 235th victim of a June 9 flood was discovered Wednesday in which North Dakota city? 5 Who will have the opening move Tuesday when the Bobby Fischer-Boris Spassky world championship chess match begins in Iceland? THE MUSEUM ROCK SHOP they are highly rated and are diversified the market price in the secondary market is usually close to the original offering price Indeed when interest rate trends are downward these secondary market issues become attractive because the interest rate was set in a period of high rates therefore investors are willing to buy them at modest iris votoERFuL wErwE AGAIW 1 1-1E SAME Tri-INGG! 9923 US HWY 80 WEST CLOSED SUNDAY 244-1035 LONG BEACH New York's Atlantic is 127 miles long USE CLASSIFIEDS-332-7722 By HAROLD MONROE StarTolenram Financial Writer: a -e em pt municipal bonds used to be the vehicle for investment by persons with large fortunes and 4 by institu- tions such as 1 a nk -1 here high tax brackets 44444 made a big difference now Li even people kik of moderate HAROLD means a MONROE find it advantageous to make investments In the tax-exempt area But there are some caveats For one thing the market regards anything less than $5000 face value as an odd lot That is to say the marketability is limited and often single bonds can be sold only at a discount from the market price being paid for big lots 0 4 44 1 "'-f 44 I 1:: i (47- 4d 4 Ll'Itlij Itak different issues in lots of one or two $1000 bonds each When he wanted to liquidate that is to sell his bonds he found to his surprise that there was no place where the current market prices are regularly quoted With a million issues outstanding no publication would have space to list them all lie checked around and found that the odd-lot price in many cases was as much as 5 points $50 on a $1000 bond the offering price for 50 or 100 bonds of the same issue He lamented that it would have cost him around $2000 to sell out compared to what he would have received if he had put all of his $60000 into a single issue If you still want diversification but don't want to sacrifice marketability there's a way to get it SEVERAL WALL Street houses have been setting up municipal bond funds which operate much like mutual funds They accumulate for example a portfolio of some $50 million in various high-grade municipals They then pool them into a single fund in which they sell shares The investors can buy shares in units of $5000 face value Interest also is pooled and distributed to the investors on a pro-rata basis If the limiter of marketability comes up there's always a secondary market for the shares in such funds And as THERE'S THE CASE of a man who had some $0000 to invest lie had always heard that diversification is a sound way to seek safety in investments on the theory that if one investment goes had the others will hold up and the loss will be small That's true about stocks but not necessarily about municipal bonds lb THE INDIVIDUAL would do better to concentrate first on bonds of issars that carry a high rating at Moody's and standard 81 Poor's This will give him plenty of choice there are nearly a million different tax-exempt issues outstanding and they have a value of some $150 billion The high-rated bonds are likely to carry a slightly lower coupon yield than lesser-rated ones for the obvious reason that many investors are willing to make some sacrifice for salley The man who sought diversication for his $60000 investment found himself with 40 tie AAAAA ft i' 'li 1::: I If 2e Ali 4' i'ri' i :4 --'iir'' 5 4 '41''''k ''i' 17! 2 flefq' v4 I 1 4 i''' et '(''1 f-41 i 440i 'eif 4' :1 f' Westinghouse Custom Compact Air Conditioner 6000 STU cooling power Walnut panel front 3-speed fan High Medium and Night Eleven-position thermostat 5-year replacement warrdnty only 159" Model AC067M1D Fk 20" 3-Speed Window Fan Can be used In many ways! Ventilates in double hung windows on flat surfaces lIke tables as room divider 4 steel case motor supports ACO50N7Z Glosss with rich glow of ambor Perfect for bar table or patio GOODYEAR MAKE SURE YOU BUY THE RIGHT AIR CONDITIONER FOR THE JOB Model AS 1 44N1 Westinghouse Deluxe Room Air Conditioner 14000 BTU cooling capacity: 3-speed tan with Night Cool Adjustable air jet vanes Hideaway grille reveals controls Operates on 115 volts only 339" 4441 100 vinyl plastic with lustrous fire-polished green finish Non-rust brass couplings Available at Goodyear Stores 79 SERVICE 1 I 1111111111111111111111101111111111101- li11111111111111111i1111111illilillillilLtilillit 1'1 7 --1---------- Models AS181N2K AS241N2K 24000 and 18000 BTU cooling capacities Infinite position thermostat automatically maintains desired room temperature 2-speed fan High and Night Cool Adjustable air directional louvers Protected by Westinghouse Nationwide Sure Service 18000 BTU 24000 BTU $289 1595 LIMO TWO Don't befooled by the super-low prices you may sometimes see on compact air conditioners Chances are the prices are so low because the cooling capacities (BTU'S) are so low This Westinghouse compact 5000 is perfect for night-time bedroom cooling or for cooling smaller rooms of all kinds Please make sure you get all the cooling power you need And you can get it with a Westinghouse Room Air Conditioner 0 Full 5000 BTU's 0 Perfect for night-time bedroom cooling 0 in and take it home with you 0 Operates on 115 volts-2 speed fan ID 712 on electricity Remember you can be sure if it's Westinghouse Nationwide 2-Foot Step Stool Attractive yet inexpensive! 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Security Officials Investigating Beirut Bombing BEIRUT (Reuter) Security authorities Sunday continued investigations in complete secrecy into a car-bomb explosion here which killed a Palestinian guerrilla leader Security sources declined all comment on the incident Saturday in which Ghassan Kanafani official spokesman of the Popular Front for the Liberation of Palestine PFLP) was killed Police said plastic charges strapped to the exhaust pipe of his car exploded after the engine was started Ills niece Miss Lamis Najem a first-year law student at Kuwait University died with him outside his Beirut suburban home Kanafan 36 was a novelist and journalist and a political militant in the left wing of the Palestine Resistance Movement Ile was editor of the PFLP's weekly newspaper Al-Hadaf published in Beirut PAIL MAIL 0010100'0er" le mg -mtogno 1 3 mg 0411-ullmg Idigt lung "tar" 20 mgmtoting 1 4 mg Of aD gond lowest "lat" 1 mg-mcolial 01 mg 18 mg "tar" 13 mg nicotine ay per cigarette ETC Repiin APRIL '12 Alit CONDITIONING 'Ik'Zdownto-earth prices for up-in-the clouds 4 ikTri comfort Ac ovoi ti 0 Air conditioning installed with forced air heating system to give you year 'round comfort and priced just right low cost operation tool Expert installation Famous PAYNE quality! 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