Newspapers / The Charlotte Post (Charlotte, … / Oct. 20, 1977, edition 1 / Page 11
Part of The Charlotte Post (Charlotte, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
INVESTMENT DECISIONS By Bernie Johnson E.F. Hutton & Company Account Executive Bemie Johnson Tax Exempted Securities Generally speaking, a tax exempted security is an obli gation of a state, municipality, or local government. It is so named because interest paid to the holder of this debt instrument is exempted from federal income taxes. This privilege however, does not apply to profits established via purchase and sale of these securities, nor does it neces sarily apply to state and local income tax laws upon receipt of interest. Typically, the ex emption from taxes will apply in full only if a state resident buys an obligation issued by that state or by a municipality within that state. The tax privilege is an espe cially attractive one for indi viduals or institutions in high Federal tax brackets. A tax payer in the 50 percent brac ket must seek a taxable yield twice that which is necessary for a comparable return on tax-exempted bonds to retain an equal number of dollars. To illustrate: Interest paid on an ordinary corporate bond ($1,000 face amount) with a 5 percent coupon rate equals $50 annually. However the inves tor in a 50 percent bracket must pay 50 percent of the $50 in federal taxes, leaving him with a net of $25. If he purchases a tax-exempted bond with a 21* percent cou pon rate, his annual interest is $25, but it is his tax free. To calculate comparable yield required on a taxable investment so as to provide an equal number of dollars for persons holding tax exempted securities, the procedure is to take the difference between. the investor’s tax bracket and 100 percent and divide that into the tax exempted yield. Although Munis are instru mentalities of a government, they do not have equal ranking with the U.S. Government’s willingness and ability to pay interest and principal. The U.S. Government has sover eignty and an unlimited power of taxation. While state gov ernments generally have simi lar powers, municipalities and local governments certainly do not. Therefore, these obli gations ordinarily carry lower credit ratings as a result. All other factors being equal, lo wer ratings mean higher yields for investors, to com pensate them for the greater risk involved, as minor as it may be. TU« ___ * V IIIVUl V.UIIIIIIUU out/ classifications of Tax Exempt ed securities are General Obli gations (GO) and Revenue Bonds. General Obligation bonds pledge the good faith and full taxing power of the issuer to pay interest and repay principal on the dates indicated in the agreement. Revenue bonds pledge only the income from a particular project, financed with capital raised on the sale of that issue, to satisfy interest and princi pal requirements. North Carolina Mutual Announces Promotions Four administrative ap pointments and promotions at Worth Carolina Mutual Life [Insurance Company were an nounced recently by W. J. Ken nedy III, NCM president and chief executive officer. Harold R. Davis, CLU FLMI, regional agency direc tor, named agency director - elect. He will assume his new duties January 1, 1978. A native of High Point, Davis joined NCM in 1947 as an agent on the company's High Point District. He was later transferred to Goldsboro as manager and in 1969, he was brought to the Home Office and named assistant agency director. He was ap pointed regional agency direc tor for North and South Caro lina in 1971. Davis was awarded the Chartered Life Underwriter designation in 1970 and the Fellow, Life Management In stitute designation in 1976. Connia H. Watson Jr., CLU, assistant agency director, named associate agency di rector. A native of Charlotte, Watson graduated from NCCU and joined NCM in 1958 as an agent on the Charlotte Dis trict. He is a former manager of the firm’s Richmond and Newport News districts. He 1 was transferred from Rich mond and brought to the Home Office in January 1976 and named assistant agency director. Watson received his Char tered Life Underwriter desig nation in 1975. Davie L. Cooper named as sistant to the general counsel. A native of Elizabethtown, he received the BA and JD de grees from NCCU. He joined the company in January 1977. Cooper is a member of the North Carolina Bar Associa . tion and Phi Alpha Delta law fraternity. Marvin L. Dyson, field training supervisor, named training assistant. A native of Telmore, Ga., Dyson graduat ed from Fort Valley State College. He joined the company in 1970 after previously serving as a high school teacher and coach. Prior to being named field training supervisor, Dy son had been an agent and a staff manager on the com pany’s Albany District. wood News Miracles 1 o Distribute Clothing A trip to Haiti to distribute food and clothing to the needy of that country is being spon sored by The Good News of Miracles Outreach of Noah's Ark. Spearheaded by Evange list Frankie Johnson, who has made several previous trips of this kind to Haiti, the trip will begin October 24. Anyone wishing to donate money, clothing or dried beans or rice may call 377-1646, 394-6246 or 399-1249. Or you may bring your gifts or donations to 403 North Tryon Street, The Pro fessional Center, Suite 412. Checks may also be mailed tc P O Box 382, Charlotte, 28201 They should be made out M Good News of Miracles. Ms. Queen Estelle Thomp son, president oi uood News oi Miracles, is assisting in the presentation for the trip but will be unable to accompany Evangelist Johnson due to a • prior committment to attend a four day seminar at -Oral Roberts University Oct. 27 - 30 Merchants Who Advertise In The Post Are Telling You They Appreciate Your Business. BEWARE! J 0 This Coupon Entitles You J To 90c Off At The « Haunted House Of More Head- East! Adm. $1.00 W/Coupon * f"KW* under 12 net In for "with coupon." Oct. 21 - Hallow*** * SUNSET *TIL 10PM Stl E. Mortlwod SI. Arrow from Slouchcut* « •0 « * * PIC *N PAY FUTURE HEADQUARTERS/WAREHOUSE Pic ‘N Pay Breaks Ground For New $4.3 Million Facility Pic n Pay Stores, Inc. (AMEX)_ officially broke ground today for the construc tion of a new expanded head quarters-wa rehouse facility in Matthews, North Carolina, at an estimated cost of $4.3 mil lion. The new complex, on a 44-acre tract approximately a half mile from the company’s present facility in Matthews, will consist of a fully automat ed 200,000-square-foot ware house and distribution center and an 80,000-square-foot ad ministration building repre senting Pic ’n Pay’s national corporate headquarters According to Albert G. Segal and Alvin E. Levine, chair man and president of Pic’n Pay, respectively, who officia ted at the groundbreaking ce remonies, the warehouse and distribution center should be completed and on stream by next summer, with the admi nistration building to be occu pied soon thereafter. Albert G. Segal and Alvin E. Levine In a joint statement, they said: "It is appropriate that we make this move in our 20th w Anniversary year The Char lotte area has been home to us these past decades, and we never considered moving our operations elsewhere. We have outgrown our present facilities, and this new com plex, which will be one of the most modern and efficient in the retail footwear industry. Pic 'n Pay, the largest self service shoe chain in the Southeast with 366 units, ex pects to have more than 400 _ stores in operation by the end of its June 1978 fiscal year : ruppetry l* mid To Appear At Spirit Square On Sunday, October 23. at 1 pm. in Spirit Square, 110 East 7th Street, the Puppetry Guild of the Carolinas will present "The Day of the Puppet" an all free fun filled afternoon for both young and old. There will be free puppet shows galore, exhibits of old and new puppets, free puppet making workshops, sales boo ths where puppets and puppet , items may be purchased. Merchants Who Advertise In The Post Are Telling You They Appreciate Your Business. Patronize Them. North Carolina State Bar To Hold 44th Annual Meeting The North Carolina State Bar announced here Tuesday that its forthy-fourth Annual Meeting will be held Friday, Oct 28 at Charlotte's Radisson Plaza Hotel, according to State Bar President George J Miller of Charlotte. "We’ve been working for several months putting toge ther what hopefully will be one of the most interesting and well-attended annual meet ings in the history of the State Bar," said Miller. Highlighting the week-long activities will be addresses by U S Attorney General Griffin B. Bell; American Bar Asso ciation President William B Spann. Jr.; U.S. Senator Ro bert B Morgan Jr.; N.C. Governor James B Hunt Jr.; and N.C. Attorney General Rufus L. Edmisten. Bell, Morgan and Hunt are scheduled to speak on Friday, Edmisten will speak at a luncheon on Thursday, and Spann is slated to address the attorneys at their Annual Din ner Thursday evening A native of Georgia, Bell was sworn in as the nation's 72nd Attorney General on Jan uary 26, 1.977. Prior to taking office he was a partner in the Atlanta law firm of King and Spalding Before that, he was a U.S. Court of Appeals Judge in the Fifth Judicial Circuit. Spann is also a native of Georgia He is a partner in the Atlanta law firm of Alston, Miller and Gaines He took the oath of office as President of the American Bar Assoiation on August 11, 1977 and his term of service will continue through August 1978 At 10 a m. Thursday, Oct. 27. the Council of the State Bar, which is the organiza tion's 34-man governing body, will hold its quarterly meet ing During this session the Councilors will deal with a number of important issues including lawyer advertising Following the panel discus sion, the North Carolina State Bar will hold a luncheon hono ring lawyers licensed to prac tice law for fifty years or more, hosted by the Lawyers Title Insurance Company of North Carolina The week's activities will end on Friday with the elec tion of State Bar officers for the 1977-78 year. Check the ads in the Char lotte Post each week for the best bargains in town A STARTLING OFFER! Gentlemen: I Would Like To Have The Charlotte Post Mailed To My Home (Or Business) Each Week. Please Enter My Subscription As Follows: Name.Phone. Address.Zip. Please Bill Me □ I Payment Enclosed I fone Year $10 l^jSix Months $6.50 | 113 Weeks $3.25 The Charlotte Post 2606 B West Blvd. Charlotte N.C 28208 ^ - *v •V:' * | THE BIG EVENT! I TRANSITION by IOJTX] I 1 ■' ■ ■ ■ E GROUP EVENT PRICE ‘1299 24 GROUPS AVAILABLE ~~~ CHINA CABINET Complete cnma of selected pecan lumber anc pecan venee' Glass shelves anc ends Seaiec beam lighting 71 »i9 «82 Higr. REG PRICE EVENT $ f f D •1366 75 PRICE I UU ADDITIONAL TABLE LEAVES AVAILABLE DINING SUITE Selected pecan venee' '.'appa Bum ana pecan lumoer Cnairs nave -mported cane backing TABLE-44 x66 x29 a H REG PRICE EVENT S»1A •389 00 PRICE C 10 SIDE CHAIR - 43" HIGH REG PRICE EVENT SAA •1 15 75 PRICE Dj ARM CHAIR - 43" HIGH REG PR'CE EVENT «—A •129 00 PRICE I II BUFFET Crafted of Mappa Burl and selected ' pecan lumber and pecan veneer Adjustable shelf behind each set of I doors 57 X18 x29 H j REG PRICE EVENT $ ‘478 00 PRICE PEDESTAL TABLES ALSO AVAILABLE 1 ■ 7 GROUPS AVAILABLE - 4 GROUPS AVAILABLE ■ ■ CHINA CABINET DINING SUITE BUFFET WAI I IIMIT 1 ■I Chroa *aa giaaa aaaied Tab* Selected pacer career Bteeb data formica lop are ™ MULi will ■ ■ ■ Deem i^m.^ '*» imed m.« 44 .44 >7B > m drop laa.aa framed mm t»a*iad'• Mappa Bu» %*»#<tad pacer i^mba* ■[ H draw** Adfwatapi# \r>+« Mfirm t«Q fttci fvfNi tlftfi pecen lumber Fab Nned as- h°°' *>•»• i u«.i ^ d» «H»e'«**•< ya»* ■ dory 4§ .17 .77 h *944 M *<l IVV <*r drawer W >70 07 h doo» dar • v*>o*eo Q>aa% m«rro» 4 crow* ■ SiOC CHAIN J7 , h OPEN *"*■ aaawd r*»a~ .gm.r^ ■ ■ ate fbitj fvfNT ,l6Pi« fvVNt <13 ■ ■ -.<1 474 .Jl'Ji „,T‘ 14 ■*,v«.' * 1 QQ *i® r.tci ivint SQQQ I S Nona igg *tic* I 99 'HMM Mtc* 999 ■ . I BUY BY THE GROUP - INDIVIDUALLY • MIX OR MATCH 1 1 LIMITED TIME ONLY 1 ■ 6600 N. TRYON ST. own -on weo * rm I I (cohhZtntte;on,c,s iCTI |iF|fClf TuiijH5‘T I ^*HWY » BY-PASS) 596-1401 M _ < THE SAVING PLACE _J Introducing Our New Personality Portrait Package j I In i ... ru^rsuue inauoei: 1-6x10 3- 5x7’s 15-Wallets 4- Color Portrait Charms The perfect Color Portrait E Package for the entire I family at a super Kmart | price, and in a variety of poses and backgrounds. ■ One sitting per subject. No additional charge for groups. Poses our selec tion. Satisfaction always or deposit cheerfuly refunded rs ^ Jrii 4rs • “All Charlotte Area K Marta. IbcIm1Ii| Albemarle, KannapoUa. Salisbury, She*, by. Hickory. l>enior. GaatonlA, and Statesville" ,4 Wednesday, October 19 Thru Sunday. October 23 Dally: 1# AM - 8 PM And Sunday: 12 N-i PM Tuesday, Octoer 18 Thru Sat urday : October 25 Daily: I9AM-8PI* Tl
The Charlotte Post (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Oct. 20, 1977, edition 1
11
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75