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BUSINESS M R ™ Italy Issues Warrant for Abut Abbas

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BUSINESS M R ™ Italy Issues Warrant for Abut Abbas n U - MANCHESTER HERALD. Saturday, Nov. 9, 1985 MANCHESTFR D S W O R I n SPORTS WFATHFR Business BUSIN ESS Impending closing 11 Danbury man among I I Injury puts cramp Rainy, chilly tonight; in B rief saddens store owner | | N.J. crash victims | | on East title hopes no change Tuesday Copper prices up sharply ... page 3 ... page 4 . page 14 ... page 2 Copper prices rallied sharply Friday on the Mutual fund shares redeemable \ Commodity Exchange in New York, settling 1.15 cents to 1.20 cents higher with the contract for Q U ESTIO N : We own 4,000 shares of a growth collect the full net asset value of your shares when you delivery in November at 61.20 cents a pound. mutual fund, the^result of an investment made 17 redeem. Precious metals prices also were higher. Gold years ago. My husband is 65. We would like to sell our However, other readers arc cautioned to check and settled $2.50 to $2.80 higher with the contract for shares and buy a home in an adult community. find out if a mutual fund has a redemption fee .— delivery in November at $324.20 a troy ounce; We wrote to the mutual fund two weeks ago and Investors’ before investing. The standard advice from this silver settled 7.4 cents to 7.6 cents higher with asked how we can sell. We haven't received any reply. comer is to steer clear of funds with redemption fees. November at $6,102 a troy ounce. Can you tell us how to sell our shares, without going Guide Com futures prices were higher and wheat and through a broker and paying a fee? William A. Doyle Q U E S TIO N : My husband and I will have a profit of soybeans were mixed on the Chicago Board of approximately $37,000 when we redeem our mutual Trade. ANSW ER: Technically., you don’t "sell” your fund shares. We know we will have to pay tax on that. I Livestock and meat prices were mostly lower iJIanrhrHtpr MpralJi mutual fund shares. You " r^ e e m ” them by turning have gambling casino stock, now worth $5,000 less on the Chicago Mercantile Exchange. Manchester, Conn. — A City of Village Charm Monday, Nov. 1,1, 1985 — Single copy: 259 them back to the fund. than I paid for it. Should I sell the casino stock, in Petroleum futures were mixed in light trading, If you have certificates for your shares, you must order to reduce our income tax bill? on the New York Mercantile Exchange. sign the assignment form on the back and have your you have encountered evidently results from the fact signatures guaranteed by a commercial bank, trust that the tetter you wrote to the fund was not an actual ANSW ER: That would be a wise move for tax Uniroyal to sell ifubsldlary v company or brokerage firm. Then, send the redemption request. Just the same, somebody at that purposes. If you sell that casino stock at a $5,000 loss in certificates to the fund’s transfer agent, along^jwith a fund gMfed by not getting back to you and explaining the same year in which you redeem the mutual fund N EW Y O R K — Uniroyal Inc. announced Reagan request that they be redeemed. For safety sake^ do it',, thingsy shares at a $37,000 profit, your net capital gains for the Friday it is putting most of its Uniroyal Chemical Italy issues by registered mail, return receipt requested. ^ year will be reduced to $32,000. Assuming you held the Co. subsidiary up for sale to help pay off debts If you don’t have certificates and your shares areA " Q U E TIO N : Exactly what price will we get, when we mutual fund shares for more than six months, so that incurred in a leveraged buyout of the parent being held by the transfer agent, as often is the case redeem our mutual fund shares? your profit there was a long-term capital gain, only 40 company in September. lauds -with mutual fund investments, you must send a signed percent of that net capital gain will be subject to A prospectus will be circulated next week to redemption request to the transfer agent. Again, your ANSW ER: For most mutual funds, the redemption Income tax. You’ll pay tax on $12,800. That’s better those interested in buying the subsidiary, which signatures must be guaranteed. price is the net asset value per share — the actual than paying tax on $14,800 — 40 percent of the $37,000 will be sold as an entity and not as individual warrant for If you have certificates for some shares and other dollar and cents value behind each share. That price long-term capital gain you would have by not business units, according to spokesperson Renee veterans shares are held by the transfer agent, you have to can move up or down from day to day, in line with the establishing the $5,000 loss on the casino stock. Potosky. follow both of these procedures. market values of the securities the fund holds as First, of bourse, determine in your own mind that Uniroyal is not negotiating with any potential WASHINGTON (UPI) - Presi­ Many mutual funds allow shareholders with investments. you no longer want to own that casino stock. If you're buyers at this time, she added. dent Reagan urged the nation previously signed redemption'forms on file to redeem convinced it's a clunker, unload. But, ifyou believe its The subsidiary produces agricultural chemi­ via the telephone. You’ll find the transfer agent's The exceptions to this general rule are mutual funds cals. industrial chemical additives, specialized today to remain militarily strong Abut Abbas price will rise in the future hold on. Investment with redemption fees. Those funds deduct redemption in memory of the American war name and address, as well as the number for decisions made only for tax reasons sometimes can rubber and plastic products, and other specialty fees from the funds’ net asset values and redeeming dead but also said "peace is telephone redemptions in the fund's prospectus. backfire. chemicals. Minus its plantation operations, All mutual funds are required to send you a check shareholders receive less. which are not for sale, Uniroyal Chemical posted imperiled when we forget to try for agreements and settlements and for the proceeds of a redemption within seven days Fortunately for you, the mutual fund you named in Doyle welcomes written questions, but he can $553 million in sales during 1984, the company treaties.” after the redemption takes place. The two-week delay your letter does not levy a redemption fee. You’ll provide answers only through the column. said. Palestinian sought The management of Uniroyal Inc., which is one Reagan made the remarks in a of the world’s largest rubber producers, and the Veterans Days ceremony in the New York investment firm of Clayton Dubilier Amphitheater at Arlington Ceme­ in ship hijacking Doubled bills Station sales Inc., conducted the leveraged buyout to prevent a tery in Virginia after he place a hostile takeover by financier Carl C. Icahn. wreath on the Tomb of the Dow Jones Average Unknown Soldier. ^ for Seabrook Budd now GTE director The president appeared to have GENOA, Italy (UPI) — Prosecu­ The Italian government’s deci­ will cut debt :in mind his forthcoming strip to tors today issued new warrants for sion to allow Abbas and his STAMFORD — Edward H. Budd, chairman, November 8, 1985 30 Industrials ; Geneva, Switzerland, where he the arrest of Palestine Liberation companion to escape to Yugosla­ chief executive officer and president of The appear likely ■ will meet with Soviet leader Front leader Mohammed Abul via caused the worst strain in Travelers Corp., was elected Friday totheboard for Chevron ' Mikhail Gorbachev, Nov. 19-20. Abbas and eight other suspects in Italo-American relations since of directors of G TE Corp. "Peace is imperiled when we the Achille Lauro hijacking, a state World War II and nearly brought CONCORD, N.H. (U P I) - New The announcement was made following a forget to try for agreements and Hampshire electric customers could High: 1410.44 attorney indicated. down Craxi's five-party coalition. SAN FRANCISCO (AP) - Chevron regular meeting of G T E ’s directors at the . settlements and traties, when we see their bills more than double within The warrants brought to 16 the Craxi was forced to offer his 1400 Low: 1391.06 U.S.A. Ihc. plans to sell its service company's Stamford headquarters. Budd’s elec­ : forget to hold out our hands and five years after the Seabrook nuclear number of suspects wanted in resignation when Defense Minister stations in 10 northeastern states in a tion brings G T E 's board membership to 16, G T E : strive, when we forget that God plant is generating power, utility connection with the hijacking Qct. Giovanni Spadolini pulled his Close:1404.36 series of deals expected to generate $500 said in a statement. gave us talents to use in securing regulators predicted Friday. 7 of the Italian luxury liner and the small but influential Republican m million to help reduce the huge defat -the ends he desires,” said Reagan. The probable rale projections are Doll Imports Investigated murder of Leon Klinghoffer. an Party out of the government. Up: 4.82 resulting from the merger of Chevron “ Peace fails when we forget that contained within three rate scenarios elderly American Jew.
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