The Opelika-Auburn News from Opelika, Alabama • 6

Page A4 THE OPELIKA AUBURN NEWS Sunday January 1 1878 JA Jones Celebrates 75 Years Of Affilitation With Guaranty irm By Robert Nurock Business Types of Trusts In ocus presented was Drummond To Head Huguley Mill Store Revocable or Irrevocable Burns Out Market alls EDWARD DRUMMOND ssr' The bells of peace chime filling the air with renewed hopes and high spirits We echo their bright sound sending best wishes for a Happy New Year to all! COTTONAND PROPERTY WITH JOHN ALLEN JONES AGENT OPELIKA ALABAMA reappointment whose con Vlce President and Personal in ance Specialist Merrill Lynch Pierce enner and Smith Inc John Allen Jones and Son Agency in Opelika recently celebrated 75 years of continuous representation by the United States idelity and Guaranty with a special plaque presentation and luncheon The first policy issued by the Baltimore Md based company to the Opelika agency was recorded on December 26 1902 Mem bers of the nationwide firm and John Allen Jones representatives were on INSURE WITH JONES I YOU WANT PROTECTION 1963 million shares against 24 month low of 1675 million The composite index rose 06 to 5231 At the American Stock Exchange the market value index rose 22 to 12643 77 I Club for a special luncheon Seated are 1 Claire Sikes bookkeepr Emma George Jones and Leveme Owsley office manager standing Ed Sprigg assistant manager Dan Kuykendall president Jim Sikes agent and Ebbie Jones vice president all of the Opelika agency and Ed Beal manager and Leon Dean special agent by Laura Holloway CONTINUOUS A plaque recently to John Allen Jones And Son Agency in Opelika in honor of 75 years of continuous representation by United States idelity and Guaranty The first policy was Issued on Dec 26 1902 Pictured above are representatives and members of the John Allen Jones agency who gathered at Saugahatchee Country hand to celebrate the 75th anniversary of coverage John Allen Jones and Son agency located at 815 South Railroad Avenue for the past 50 years was formed In 1893 In 1901 the firm merged with JL Dean Agency That connection re mained until 1912 when the company became the John Allen Jones agency again In 1970 Dan Kuykendall took over operation of the agency Jim Sikes joined the staff in ebruary 1977 Contrary to popular belief trusts are not just for the rich Almost everyone can make use of some of their basic concepts in estate planning A well designed trust can reduced the tax burden on your estate transfer property to your heirs with a minimum of delay reduce your income taxes and provide for the management of property intended for minors in competence and other persons who are unable to manage their affairs accordipg to Stephen Salon a Bostc attorney who specializes in estate planing While a trust may seem complex its principle is quite simple You transfer cash securities real estate or other property to the an individual or bank your to manage and distribute according to your wishes There are two types of trust says Salon: testamentary trusts which are set up in your will and take effect when you die and living trusts which are formed during your lifetime and take effect as soon as Uiey're made Which one is best for you is a question your attorney can helpyou answer after reviewing your and financial situation Edward Drummond has been named Carpet Sales Representative at the WestPoint Pepperell Mill Store in Huguley Ala according to an announce ment by Bingham Manager of the Retail Stores Department ormerly Mr Drum mond was employed with a New Jersey pharmacy for two years as a Retail Sales Merchandiser NEW YORK (AP) The stock market declined broadly today in the first trading since President Carter chose a new chairman for the ederal Reserve Board The Dow Jones average of 30 industrials fell 451 to 82519 in the first half hour Losers outnumbered gainers by about a 2 1 margin among New York Stock Exchange listed issues After the NYSE close on Wednesday the White House announced the surprise choice of William Miller a Rhode Island business executive to succeed Arthur Burns as chairman of the ed Many business and financial leaders had been urging the of Burns Earlier from 1968 to 1975 he worked in a sales capacity with Alabama Power Company in Roa noke Ala A native of Randolph Co Ala Mr Drummond com pleted high school there at Wedowee then attended Southern Union State Jun ior College Wadley Ala He and his wife the servative economic views are widely shared on Wall Street A number of top executives and bankers said they believed Miller was an excellent choice for the job But analysts also pointed out that he was largely an unknown quantity to investors only was it not Burns but it was a man people are not familiar said larry Wachtel at Bache Halsey Stuart Shields "Nobody quite has a handle on his Wachtel noted that un certainty about what to expect from Miller had prompted a decline in the dollar in foreign exchange markets as well as some selling of US stocks by foreign investors I I sp One type of living trust that could be used to lower your income taxes is called a "Clifford says Mr Salon It lets you shift income to a person in a lower tax bracket than yours for ten years and a or for the lifetime of the person for whom the trust is set up After the trust ends the trustee returns the trust property to you Who are not so careful? A Ihdr spark on a windy night may cauac havw in Its fiery The Only Safeguard Against Loss is a WEST POINT Ga former Sara Traylor of Woodland Ala and daugh ter Sara Ann 19 reside on Bartlett Ave in Roanoke RETIREMENT Mrs Alice Carson right accepts a certificate of citation for 36 years of service from the Opelika manager HC Renegar Mrs Carson was an office employee in the local store Photo by Rick Helmke counters and one row of center aisle Mrs Carson recalled "In June 1942 we moved to a new location with a larger store I continued to be a department head until 1945 and I was made personnel supervisor a position I had until Decem ber 1969" Mrs Carson became an office employee and on Dec 31 1970 the West Point store was closed At that time Mrs Carson was transferred to the Opelika store She worked as an office employee until her recent retirement Telephone Taxes Are Going Down Telephone customers in Alabama will pay less federal excise tax on their telephone service be ginning January 1 accord ing to RJ Massingill South Central group manager bills rendered on or after that date the federal excise tax rate on local and long distance charges will be reduced one per cent from five to Mas singill said The reduction results from an act passed by Congress in 1970 which calls for the gradual reduction of the federal excise tax rate on tele phone service Trust can be revocable or irrevocable A revocable trust can be revised or revoked at any time and the property you place in it will revert to your direct control The assets in the trust will be taxed as part of your estate An irrevocable trust is just what its name implies One the trust is set up and assets placed in it you change or revoke it or this reason you should put property that you can afford to do without in an irrevocable trust Property in such a trust may not be taxed in your estate Testamentary trusts since set up in your will can be changed whenever you change your will Property left in a testamentary trust is generally included in your estate for tax purposes Mr Salon says that both revocable and irrevocable living trusts do not have to be probated This means assets in such trusts usually have to go through lengthy legal and administration costs toyou estate The Clifford Trust If 1 '741 Money Sense 1 I I INSURE YOUR OPELIKA MANUACTURING CORPORATION MILL DIVISION AND SNOWER DIVISION JOHN ALLEN JONES Office Phone 66 Residence Phone 275 I I Did You Ever Stop to Consider That while you may take every precaution of prevent fire on your own junuiRrs you may nave neighbors On Wednesday the Dow Jones industrial average closed at 82970 unchanged from the previous close Advances slightly out numbered declines 9n the NYSE big Board volume totaled Woolworth's Employee Of 36 Years Retires Mrs Alice Carson a 36 year employee of Wool was honored at her retirement recently for her years of service She was first employed as a part time worker June 30 1933 44 years ago in the West Point Ga store "I became a full time person in a little store that had two rows of side Jen I imp laajW 5 1 WMhHW I Oiarifa i raH Efvi ESiw I EB imEl A I 0 7 a If ci A I ix ifj wt JE 1 7 i 5 a a T' 11 tCs II rJgPfLz I I JTSs Ur i I 0 plaL I 0 ST 1 LynMarT liM I fl AUGUST 3 1 893 3 1 SEPTEMBER 6 1 901 John Allen Jones irp ifo Jir 0neO the "ot(ablin change of the past week was the con A 11 Vy LjLLu OL xCCiaeill sohdationof the fire insurance business of JL Dean A Co and John T1 TOT TTA a 1TNTl Allen Jone under the firm name of Dean Jones Co I I I I Hi A P'X WJ'rrn of M89r LL Dean John Allen Jones LtlVl 1 VUX thrce of lhe best al insurance hustlers in Share of Public The firm ofDean tones Co the largest insurance agency ini flamfl Tie rere8ent totals assets amounting to Patronage Solicited Insurance Company of New York and the Travelers' Accident Insur Officp PP lnthiino Cn anL'? ordordl Conn under the former firm name vlllLv Ljvv XjlOlIlin LaO Diore While Mr Jones will still represent the New York Life Insurance Com PanJ lhe consolidation affecting the fire insurance business only HAPPY NEWEA John Allen Jones A WW Insurance withStability 7 1 I.