24 - THE HERALD. Tues., Oct. 13, 1981 CPAs; Use them with core How reliable are economic indicators? Manchester, Conn. tion may be slowing down. These rates reflect the In­ plummeted again in May. Increased housing starts Cold tonight; key elements, then predicting what is to come. Here are usually indicate a better market for home buyers. (First in a series of five articles) the chief indicators with advise from the CPAs on how vestment judgment of the thousands of professional mild Thursday Wed., Oct. 14, 1981 bond traders, which makes this index one to watch most However, this index is based on all housing starts, so a to apply them to personal financial questions: block of luxury high rise condominiums in a resort area The stock iparket tends to attract investment when closely. — See page 2 25 Cents could increase the index even though In actuality this the inflation rate begins to decline — or speculators • PRIME RATE. This measures increase or How reliable are the economic indicators commonly would not reflect the market for single-family homes. decide it is about to decline. This may lead you to invest decrease in the cost of credit or borrowing, but only for used to describe economic trends? Can the Consumer the relatively few most c r^ t worthy business in stock or mutual funds. The stock market is usually Economic indicators cannot advise on specific invest­ Price Index, the Dow JOnes Industrial Average, or other customers. Nevertheless, this rate influences other in­ ment opportunities; but, if properly applied, they can well-known indicators, be trusted to help you reach irn- one of the earliest indicators of changes in the economy. It declines before a business recession appears. It also terest rates. If the prime rate goes up, anticipate that offer useful clues to economic trends. portant personal financial decisions.? CPAs have this to interest rates on money market funds will also increase For your own copy of “ How Federal Income Taxes say: Use the indicators, but understand their will turn upward before the end of a recession, so watch this one closely. The Dow Jones tends to move in the op­ and you may expect higher yields on investments. Affect Purchasing Power,” send a postcard with your limitations. , _ . posite direction from interest rates — but there have • THE HOUSING STRATS index measure the name and address to: CSCPA, 179 Allyn St., Suite 501, BULLETIN According to the Connecticut Society of CertifiM number of new housing units on which construction has Hartford, 06103. If you would like a speaker for your Public Accountants, certain indicators are vital in been occasional exceptions. • TREASURY ^OTES. When the interest rate rises begun. This index has been depressed since the club or organization, please contact the society office at helping people understand the directions the economy is mortgage interest rate began its upward surge in recent 525-1153. taking. But these indicators should not be regarded as on short-term borrowing by the governrnent, it means Arms (deal years. Although increased slightly in the spring, it barometers, measuring with scientific precision all the inflation is continuing. When rates drop, it means infla­ Town wins Lecture tour —Working in Manchester Stockton HUD case faces vote leaving Federal Judge M. Joseph Blumenfeld today filed, of Washington, Bob Fasten of Wisconsin a decision in the federal discrimination la'wsuit WASHINGTON (UVI) - President is lucrative Reagan’s proposed Saudi arms deal and Larry Pressler of South Dakota. against Manchester and, according to an attorney headed for defeat in the House today, but But Pressler emerged from a 15^ ED post for the town, Manchester has won. a divided Senate is keeping the fate of minute White House meeting Tuesday Manchester was charged by legal aid attorneys the sale — and of Reagan’s first big with Reagan and Baker saying, “I’m still and the U.S. Justice Department with racism for , j fofeign policy battle on Capitoi Hill — in in the ’no’ column.” business in U.S. Monday, Pressler offered a proposal to HARTFORD (UPI) - State its 1979 withdrawal from the federal community doubt. Economic Development Com­ development program. House Speaker Thomas O’Neill overcome concerns about Israel’s missioner EMward J. Stockton says predicted the House, in a vote set for security in a nonbinding resolution that By LeRoy Pope No details on the decision were available early 4 paratively young, is another fast he will step down from the post today, would oppose the measure by a 3-1 asks the administration to balance the UPl Business Writer this afternoon. Both sides had indicated their com­ growing agency. Another big one is Thursday to establish a private con­ mitment to appeal the case, but it is unclear margin. The White House iong ago con­ deal by bolstering Israeli air defenses W. Colston Leigh, Inc., which sulting business. ceded defeat in the House and focused its with new radar and jamming equipment. NEW YORK (UPIl - The lecture represented the late Eleanor whether the Reagan Justice Department will Pressler said Reagan told him he will Stockton said he enjoyed the com­ appeal. efforts on the Senate. tour business, which probably Roosevelt among others. missioner's job, but had ac­ On the eve of the House vote, one foe of send letters to the full Senate today in a originated in ancient ■ Athens, has June Karger, APB’s general complished much of what he set out the sale said Reagan was drafting a last-ditch effort to win approval of his become a modern American manager, said lecture audiences to do when appointed in March 1975 letter to the Senate containing Saudi_package. phenomenon — a lucrative one. currently seem more interested in by late Gov. Ella Grasso. assurances on how AWACS radar planes He said the president’s ietter is Noted Greek philosophers and seeing and hearing celebrities than “I just happen to love my work, in the arms package will be used by the expected to reach the Senate before a statesmen certainly delivered lec­ Lights at Nebo scheduled Thursday afternoon AWACS in public issues. Don WalkeV of the but there comes a time when you Saudis. tures to the public in a grove called vote by the Senate Foreign Relations Harry Walker agency disagreed. He know it's time to go,” he said Mon­ Although the letter is intended to the Lyceum in Athens but no one said the public always is more in­ assuage concerns raised by opponents, Committee. knows nowadays how the speakers day. “I've plowed most of the new Ten of the committee’s 17 members terested in ideas. ground that lies ahead.” two members of the Senate Foreign were compensated. given go-ahead oppose tlre~-package — enough to “People go to lectures out of a Stockton said he would not begin Relations Committee said today it alone The American 'lecture business is thirst for knowledge and a desire to will not win the fight for the president in recommended disapproval. But it will go believed to have been originated by work on setting up his consulting The project has been somewhat trimmed to come un­ to the floor even if the panel rejects it. hear and see a stimulating per­ business until he had left the state the Senate. Ralph Waldo Emerson, the Boston sonality. If a celebrity hasn’t der budget but the town has given the go-ahead to the. "It will be a help,” said Sen. Richard Earlier Tuesday, Reagan picked up philosopher and poet, and Daniel job “to avoid the appearance of a plan to renovate and install lighting at the Mount Nebo' another Republican vote. Sen. John anything to say he or she will flop on conflict of interest.” Lugar, R-Ind. “It won’t turn it around.” Webster, the New Hampshire the lecture circuit." he said. Moriarty Field baseball diamond. Sen. John Glenn, D-Ohio, a leading op­ Oiafee, R-R.I., who had previously been Larrye deBear, press secretary Work on the project is under way. statesman, says Dan Tyler Moore of APB was created by Harry i V * ’ ' •• ponent of the sale, said 53 to 57 senators uncommitted, said, "After carefully con­ the American Platform Association tor Gov. William O'Neill, said the Musco Sportslighting Inc., of Muscatine, Iowa, was sidering all aspects of this saie, I am of Walker’s nephew, Robert, who left governor had made no decision on still oppose it — more than enough to based in Cleveland. - - ■■-v'.w .- j ^ ' the winning bidder to install the lighting for $55,664. the strong conviction that it is in the best his uncle’s firm in 1965 in a family '.•SEs who will succeed Stockton in the block it. "Emerson got the huge sum of $5 The bid included labor, materials and equipment to in­ Herald photo by Cody interest of our crintry.” feud. Robert Walker no longer is ac­ commissioner's job, which pays For the $8.5 biliion package to be and a bucket of oats for his horse for tive in the firm. stall 54 — lS,00b-watt lights on four 80-foot and four 70- stopped, both chambers must oppose it. his first lecture at Newburyport, more than $36,(XX) a year. foot high poles at the field. J. Peter Fusscas, 55th District state representative, announced The profitability of the lecture Activities of th e ^ p a rtih iift* oi-- The package includes five radar- Mass. The $40,000 Bob Hope gets business to individuals whose talks "The project has the go ahead and the poles are on Tuesday he Is running forgJhjs^open first congressional seat.