Newspapers / The Charlotte Post (Charlotte, … / Nov. 17, 1977, edition 1 / Page 12
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INVESTMENT DECTSONS By Benue Johnson E.F Hutton 4 Com pan' Account Executive lax *ree Bonds For The Small Investor For the small investor who in the past did not have the necessary $5,000 to buy muni cipal bonds on his own, he had no choice but to continue paying taxes on all of his ■ investments. Now, with the availability of the “Municipal Bond Unit ; Trust'' and the "Municipal 1 Bond Fund," the small inves tor can receive income free from Federal Taxes with as little as a $300 investment, though most "Trusts” want an : initial investment of $1,000. You will recall from previ ous articles that “Municipal Bonds” is a (catch-all) name • that describes the debt issues of cities and towns, states and territories, counties, local pu blic housing authorities, water | districts, school districts and : similar governmental units. • Because interest paid to buy ers of the bonds is exempt from Federal income taxes : and, usually, income taxes of • the state in which the bond is ? issued, municipals can pay :: less interest than corporated bonds of comparable quality and still deliver the same j after-tax yield. T'V.-o, __ a_ l * *«b**vi JUUI td A Uiav' ket, the more valuable this tax-exempt feature becomes. For instance, if your taxable income puts you in the 32 percent tax bracket - A 6 percent tax exempt yield is equal to receiving 8.82 percent from a fully taxable invest • ment such as from your sav • ings account. If you are in the : 40 percent tax bracket a 6 ; percent tax exempt yield is : equal to a 10 percent yield in a : fully taxable investment. Therefore, investing in mu • nicipals make sense only if your expected return exceeds what you could get from tax ! able investments of the same 'quality. For example, if you have a taxable income of $11,000 on a joint return, a tax free yield of 4 percent would put as much money in your Third Minority Trade Fair Well Attended Continued From Page 1 . Some of the buyer compan* ies participating were Ford Motor Co. DuPont, Westing house, Shell Oil, North Caro lina National Bank, Southern Bell, Metropolitan Life Insu rance Co. and Soul City, Inc. Minority vendors included Vanguard Associates of Min nesota, Manhattan Poly-Bag Co. of New York, Black Feet Indian Writing Company of Nebraska and Sunview Travel Agency of this city, Mayor John Belk and City Council chairperson, Liz Hair, participated in ribbon-cutting ceremonies on Wednesday morning to open the Fair and the speaker for the banquet ending the Fair was Dr. Hard ing B. Young, Professor of Management at Georgia State University and is President and Director of the Southeas tern Economic Development Foundation. The Metropolitan Minority , Purchasing Council was or- i ganized three years ago and now includes more than 100 purchasing executives and buyers from the- major corpo rate users of goods and ser vices The Council is sponsored by the Charlotte Business Re source Center, which operates under a contract between the Office of Minority Business Enterprise, U S, Department of Commerce, and the Char lotte Chamber of Commerce. Council members are general ly committed to affirmative action programs with respect to purchasing from minority owned suppliers Their spon sorship of the Fair indicates that they mean business, and are serious about finding, as sisting, and buying from qua lified minority firms It I ays To Advertise In The Charlotte Post pocket as a 5.13 percent tax able yield from, say, a corpo rate bond or a savings certifi cate. However, if taxable bonds are paying 6 percent and you can get 6‘s percent from a savings certificate, why buy the 4 percent tax-free munici pal? On the other hand, a couple with $30,000 of taxable income would need a 6.56 percent taxable yield to beat a 4 percent municipal bond, making the bond a much more attractive investment for them. Having talked extensively about-"Trusts" and “Funds," significant points of distinc tion should be highlighted: A unit investment trust is a diversified closed-end port-fo lio of bonds offered by a registered investment com pany. Portions of the invest ment are offered in units and must be offered with a pro spectus. The advantages of most unit trusts are: 1. Federally tax-free income; 2. Monthly income mailed di rectly to the investor from the trustee bank; 3. A professional selected di vciamcvi puruuuo OI Don as i 4. Convenience of having units registered in the owner’s name; 5. Marketability - through se condary markets maintained by trust sponsors or through the trustee bank. Each fund is different. No fund should be purchased without first obtaining a cur rent prospectus. Managed municipal funds are diversified open-end port folios of municipal bonds por tions of which are offered in shares. The objective of such funds is typically to maximize yield through professional abi lity. These funds include eit her a sales charge or a man agement fee or both. The advantages of most ma naged municipal funds are: 1. Federal Tax-free Income 2. Monthly Income 3. Ability to Reinvest Monthly Income Checks 4. Professional Management of the Portfolio 5. Redeemability Through the Fund. Rachel Swann Y ery Modest About Merit Award By Jeri Harvey Post Staff Writer Rachel Swann, the editor of the North Carolina Reporter, a bi-weekly newspaper pu blished by Southern Bell Tele phone Company for the benefit of its employees across the state, is very modest about the fact that the paper recently won a merit award in the category of Best Newspaper from the Carolina Association of Business Communications (CABC). “It’s something like a honorable mention," she laughed, “but Banks (Banks Cline a Southern Bell public relations man here in Char lotte) thought it should be brought to the attention of your paper. ’ A look at the publication that Rachel edits confirms the pride Cline feels about the job this young woman is doing for it is definitely a professional piece of work. Not only does she do much of the writing, but she takes many of die photo graphs that paper with the articles. Rachel was recuited for her present position while still at the University of Virginia in Charlottesville, where she graduated Phi Beta Kappa in 1976 with a double major in Speech Communications and Afro-Amreican Studies. She finds her work at South ern Bell a real pleasure be cause, “no one is looking over my shoulder. I give a report to my supervisor about what I MS. RACHEL SWANN ...N.C. Reporter editor plan to do with the paper each time and he may offer some suggestions or make a few minor changes but for the most part I’m given the free dom to do as I see fit. He’s there if I need help but he’s not breathing down my neck. And of Betty Moore, the asso ciate editor is invaluable to me, also." Rachel feels that the work she’s doing with the paper is providing her with much more experience than she would normally get from the aver age job. She also said it is building her professional con fidence and admits it may spoil her a little too, because not many positions allow a newcomer the responsibility and freedom she has had at Southern Bell. Asked what her ultimate goal in life is, she somewhat hesitantly said, "Well, it’s more of a fantasy than a goal, I guess. I think I’d like to do some fiction writing some day. Maybe start with some short stories and if I became successful enough to support myself that way, I might try a novel.’’/' A^-rfative of Portsmouth, Virginia, Rachel said that up on arriving here to begin her new job, the thing which most impressed her about Charlotte was the cleaniness of the streets. She said she wonders if people here know how lucky they are to live in such a clean city. Describing Charlotte as “a big little town,” she said “I like the size of it. It’s big enough to have lots of things to do, plenty of shopping, lots of job possibilities - yet it’s small enough to be sort of homey. It reminds me a little of Atlanta, without quite the hustle and bus tie.” iwuvemor nunt rroclaum Sunday “Food Stamp Awareness” Day DAT PTOIt _ * _« ... ^ uovernor Ja mes B. Hunt Jr. has proclaim ed Sunday, November 20,1977, as “Food Stamp Awareness Day for Senior Citizens.” In issuing this proclama tion, the Governor focuses attention on a concerted effort underway to ensure that se ruor citizens understand the Food Stamp Program and show it can help with satisfy ing their nutritional needs. This statewide campaign, initatied by the North Carolina Department of Human Re sources, is being implemented to improve the diets and heal th of individuals over 60 in the State. The North Carolina Division on Aging has indicated that one third of North Carolina's elderly have incomes below the poverty level. This is compar ed to a national average of only 18.7 percent. This situ ation results in health related problems as many of these individuals cannot afford an adequate diet. Dr. Sarah T. Morrow, Secre tary of the Department of Human Resources, has pled ged the support of ail facets of aid in her Department to ensure the health and comfort of the elderly citizens of North Carolina whose individual re I " sources cannot meet basic needs. “Older people are not living at home with their children who looked after them as they used to,” Dr. Morrow said. “Many of our elderly citizens have had to become more and more dependent on Federal and State aid, such as Social Security, Supplemental Secu rity Income, Medicare, com munal feeding sites, food stamps, and other prpgr^ms. We want to make available to our senior citiz&v- ttw aoE * vices they need to enable them to maintain good health and live comfortably in their own home as long as possible. 13 Join Professional Women’s Club insiauauon ot 13 new mem bers in the National Associa tion of Negro Business and Professional Women’s Club, Inc., Charlotte Club, will take place at the home of the president, Ms. Clara Mitchell, _ on Saturday evening, Nov. 19, at 8 p.m. There are presently 16 ori ginal members in the local group and Saturday night will mark the first installation of new members since the group received its national charter in August. On that same evening pro ceeds from a fund raising effort to aid candidates run ning in the recent elections will be presented to Charles Dannelly, Harvey Gantt and Ron Leeper, all of whom were successful in their bids for election. Support Our Advertisers “Miss McCrorey YMCA” Pageant Set By Dianne Simpson Post Staff Writer The McCrorey Branch YM CA. located at 3801 Beatties Ford Road, will present its 1977 “Miss McCrorey YMCA" pageant on Friday, Nov. 18 at 8 pm. This benefit activity is held to encourage young la dies in the Charlotte commu nity to appreciate their beauty and talents. The YMCA organization has made vast contributions to society. It’s national and local branches have contributed moral and financial support to the underpinviledged, elderly, poor, and needy. The young ladies that participate in this pageant represent a helping hand in the YMCA’s endeav ors. By being contestants, the young ladies will be promoting this event by obtaining pat rons, advertisements, and tic ket sales through various fund raising projects. There will be two divisions this year in which one can select a young lady of each division to be representatives of the YMCA. There will be a division to select a Queen among participants ages 13 - 18, and a Princess, ages 5 -12. The young lady in each divi sion producing the greatest .amount of money will be crowned and will reign during 1977-78. Prizes will be awarded to 1st, 2nd and 3rd place winners in each division. Those win ning the titles of Queen and Princess will go on to partici pate in the. 1977 Carolina Car rousel Parade and the 1978 Johnson C. Smith University Homecoming Parade. Activities for the girls, be fore the pageant, include a ‘‘get-acquainted-party’’ for contestants and parents, a fish fry-attic sale-car wash, a sw im party for the Teenage girls, a skating party at Kate’s and a swim party-pajama party for the Junior girls. The contestants for this gala event are Leisha Colston, La Muriel Michelle Crowder, Ro semarie Fortune, Monica E vette Gaddy, Ami Claymenia House, Leigh Victoria Jack # son, Sheilia Jackson, Sherrie Jackson, Renee Maxwell, Tra cy Moore, Diann Michelle Mc Coy, Nicole Oliphant, Cathy Sue Roberson, Cathleen “Kit ty" Robinson, Charlette Simp son, Coscine Taylor, Florence Deonne Walker, Pricilla Win dley and Sari L. Withers. TVf&tffr Coitei^Tct Stake Ol^tripk^ Student participants of the Metro Center, Ramsey Kin dergarten, Center for Human Development, Nevius Center, Inc. and Adap Center will all compete with each other in the local Special Olympics to be held on Nov. 17 and 18. The girls and boys will have separate competition in bowl ing, basketball and individual run-dribble-shoot activities (which are based on age gro ups). The bowling competition is scheduled Thursday, Nov. 17, 9:45 a.m. - 12-noon at the North 29 Lanes. The team basketball and r individual run-dribble-shoot activities are scheduled on Fri. Nov. 18, 9:45 a.m. - 1:45 p.m. at the Metro Center gymnasium, 700 E. Second Street. All participants will receive ribbons for their participation. Local winners will receive ribbons for their excellence and will go on to participate in state competition at the recre ation centers in Henderson, N.C. on December 2, 3 and 4. For further information con cerning the Special Olympics, please contact Ann Brandt at 332- 5114, or Chuck Comer at 333- 9608. . ■ I POST - WANT ADS BRING QUICK RESULTS A time for us to count our blessings. Let’s take this holiday as a time to reflect on all that we have to treasure. ,And celebrate Thanksgiving in the true tradition of Brotherhood, Peace, Unity And Love. THE CHARLOTTE POST, to show our spirit, will donate $1.50 of all subscriptions (using the order blank below) to the church of your choice. This can be a new or renewed subscription. Just fiUout the order blank and you uiU receive an issue by mod each Friday for 52 weeks. Start Your Congregation Today Mail To J The Charlotte Post, P.O.Box 97, * I Charlotte 28230 NAME __ ADDRESS PHONE CITY__ZIP_ Church of your choice - We accept: Ban> Americard No. " T Date_ Master Charge No- ~-r Date_ You can also start or renew your subscription at any Mechanics & Farmers Bank location: 101 Beatties Ford Rd. 2101 Beatties Ford Rd. 951 S. Independence Blvd. 20 REASONS TO MAKE CORAL GIFT SHOP 107 IN. Tryon Street 374-1871 YOUR XMAS STORE Lay-A- Way At No Extra Charge --r— —■ - ---- cmidren s Watches Mickey Mouse 810* Jewelry $1°° „ Religious Crosses And Zodiac Chains Disco-Bags . si" «.« Value Large -^lect|on - Bed Spreads Bates Style $7* Washable China «i°° Large Variety Of Styles All - Transistor Pocket Radio $4“ Ear-Rings Value to $2.95 96* Clip-On’s - Pierced China y Large Selection -; Bed Spreads Single - Double Queen A King Sizes «10TP Floral A Solids All - Transistor Walky-Talky / All Transistor Tape-Recorders Ac-Dc $24* Scatter-Pins $1°° Box >2.98 Value -- - - —--J Picture Albums $1" ^ — * ■■■■■.! _ i ■■ i ii Mens - Ladies Swiss-Watches 2 Yr. Guar. i Alarm And Wall Clocks Clocks S397 Up — Men’s 8 PC. Cuff-link Set Bath Towels Table Mata Salt & Paper Napkin Holders Bed Comforters $19* Twfn or Double Mens After-Shave 4 PCs Sets $2"
The Charlotte Post (Charlotte, N.C.)
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Nov. 17, 1977, edition 1
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