BUSINESS Lianrhpatpr Mrralji Manchester, Conn
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' ^ 20 - MANCHESTER HERALD, Monday, April 16, 1984 BUSINESS Lorbler’s lawyer wrong Spying by engineer Court upholds In predicting conviction caused severe damage KInsella probe Transform ‘shortfall’ into ‘windfall’ ... page 3 page 10 page 5 ever, breaking through a 17-year trading range — Slogans, bumper stickers, heated debates, the In B r ie f roughly 500 to 1000 on the Dow industrial average — political conventions, then the election — these we all that dated back to 1965. Some kind of reaction from know are ahead in 1984. But what about the stock that powerful momentum was inevitable. London was guest speaker market? Will this, too, perform according to tradition, Your A second factor is that the phenomenon of strong whatever that is? Go up, down, sideways? Money's markets in presidential election years has become so Kal London, president of Connecticut Travel Below is about the clearest analysis of this always Services, was a major speaker at a seminar in widely publicized that institutional investors may fascinating subject I have come across. have sold early this year. That sort of “ telescoping” Washington April 6 1. Election years are good for the stock market, Worth Manchester, Conn. to April 8 called has become common as major market participants Patchy fog tonight: especially when a Republican wins. Sylvia Porter "Travel Sellabra- try in increasing numbers to anticipate future events. Tuesday, April 17, 1984 While postwar election years have been generally cloudy Wednesday tion USA '84." He "W hile the impact of the 1984 election is still down good for the market, this has been particularly-true headed a workshop the road," says Gregory, "economic and stock — See page 2 Single copy: 25<t when a Republican wins. "There have been 11 entitled “ How Do market underpinnings are in place to support solid Republican victories in presidential years since lianrhpatpr MrralJi You Cash in on the gains later this year and next." 1900,” says Anne Gregory, publisher of the gains in the market. New Trend in Leis With these excellent prospects for the market, subscription-only M errill Lynch Market Letter, who This is the sort of mathematical mumbo-jumbo that ure Travel — Con Gregory’s opinions on what to buy cry out for did extensive historical research to help answer my makes me shiver — but I must admit Gregory has verting Your Corpo reporting. She recommends better grade capital- questions. "The Dow Jones industrial average rose in some statistical backing for her observation. Solid, rate Accounts to goods companies fproducing goods for business) as 10 of those years. Since World War II. the market even extraordinary, gains were recorded in 1905,1925, Leisure Clients?” corporate spending increases this year. And she tunts. advanced in all five years in which a Republican 1945, 1965 — all following presidential election years. Other major unexpectedly "respectable" as she suggests stocks won." The usual pattern would suggest that 1984 will be the D istrict speakers were Vice with a history of good earnings gains and good The record in years of Democratic victories has up year and 1985 will be the down year for stocks, but President George prospects as the likely leaders in the next phase of the , been more mixed. The Democrats have won 10 Gregory sees the usual market patterns reversed in Jobless rate, Bush, South Dakota elections since 1900 and the Dow industrials rose in this election-year cycle. Under the scenario she bull market. Who could quarrel with that? Sen. Larry five of those years. Since 1948, there have been four foresees, 1984 could end on a strong note, but the Dow budget Pressler, Tennessee Democratic victory years and the market rose in two. industrials average would not exceed the 1287 record Sen. Jim Sasser, Money book available 3. The year after a presidential election often is not a high posted in November 1983. Then, in an uncommon Virginia Sen. John “ Sylvia Porter's New Money Book for the 80s.” 1,328 good one for the stock market. turn for the year after an election, the market would Warner, and Donna pages of down-to-earth advice on personal money Thp record from 1901 to 1981 demonstrates this. show renewed strength for 1985 as the economy advances Tuttle, under secre management, is now available through her column. housing starts Following Republican victories, the market was up continued to advance, and the Dow industrials would tary for travel and Send $9.95 plus $1 for mailing and handling to "Sylvia four, down seven; since World War 11. up zero, down reach a new peak of 1400 to 1,500. tourism of the De- Kal London five. Following Democratic victories, the market was 4. The stock market has displayed an extraordinar Porter's New Money Book for the 80s,” in care of the p a r t m e n t o f Manchester Herald, 4400 Johnson Drive, Fairway, By Alex Girelli up five, down five; since World War II, up three, down ily bumpy performance so far in 1984. Commerce. Hera.Id Reporter one. One factor that may account for it is that the bull Kan. 66205. Make checks payable to Universal Press More than 700 travel industry people attended 3. Every year ending in the number 5 has seen solid market that began in 1982 was one of the strongest Syndicate. ‘ y . • the seminar. "Travel Sellabration USA '84" is put show decline A proposed budget of $846,756 for on by a major travel publication. Travel Trade. 1984-85 was approved by the Board of Directors of the Eighth Utilities V District Monday night for presen Town firm exhibits product Du Pont center WASHINGTON (UPI) - Unem February, 1983, to 13.1 percent this tation to the district voters. ployment declined in 45 states in past February. BOSTON — Adams Paige Corp., of 260 Tolland The budget, as it stands after the February after a near identical In the same period, the nation Turnpike, Manchester, Conn., will be among the directors' meeting, provides surge the previous month, the wide unadjusted rate fell from 11.3 more than 400 construction industry firms seeks best way $90,9.50 for administration of the 1^4 Labor Department reported today, percent to to an 8.4 percent exhibiting products and services June 12 to 14 at district, $327,381 for the lire with West Virginia remaining as nationwide unadjusted rate for the 1984 Big Show, the Northeast Construction department, and $429,775 for the the nation’s highest jobless state at February. The nationwide unad Exposition and Conference, at Boston’s Bayside public works department. to bumper crops 16.5 percent. justed rate dropped to 8.1 percent Expo Center. in March. The budget for the current year The Connecticut firm manufactures Air Krete, The raw data, which does not The major measure of unem is $792,162, with $71,350 for admin a concrete-based, ultralight, high-performance By Robert Engler take into account seasonal factors, ployment, the seasonally adjusted istration, $291,837 for fire and insulation material which it claims will not burn, United Press International showed unemployment increasing rate that takes into account school $4'28,975 for public works. has no formaldehyde or asbestos. Air Krete, in only three states — Iowa, closings, vacations, weather and according to Adams' vice president Jay Savery, WILMINGTON, Del. — Within the Du Pont Co.'s Pennsylvania and Vermont — and The current tax rate in the other factors, was 7.8 percent in has won code approval in Massachusetts. newest research facilities, scientists trying to district is 4.5 mills. It is not certain there was no change in Georgia both February and March. Connecticut, and Vermont. Visitors to the Adams eliminate bugs, weeds and plant disease watch worms and New York. whether the budget proposal will Also today, the Commerce De exhibit booth will be able to compare by computer eat cellulose disks while tiny rainstorms wash over change that rate. In all of the other 45 states, as partment released data showing Air Krete with any competitive insulation miniature wheat fields. that ousing starts dropped 27 A public hearing on the budget materials. "Sixty billion one-pound loaves of bread a year — well as the District of Columbia percent in March, the largest proposal will be held Monday at the thai's what herbicides contribute to the world lood and Puerto Rico, joblessness de decrease since the government district firehouse, Hilliard and supply by increasing cereal crop yields," said clined over the month from January. began keeping records in 1959. Main streets. The directors can Elmore cited for sales chemist George Levitt, inventor of Du Font’s Among metropolitan areas, The seasonally adjusted annual change their proposal after the herbicide called Glean. hearing. The budget will be set by George Elmore of Elmore-Associates. Man Richard Krupke Raymond Juleson Robert Hill Alice Lennon McAllen- Pharr-Edinburg, Texas, rate for March was 1,638,000 units, During National Agriculture Week in March, the the district voters at the annual chester, was honored for outstanding sales remained as the highest in the the department said. The Febru chemical giant unveiled its agriculture research meeting in May. performance in March by 3M’s Energy Control nation with an unemployment rate ary level, according to revised centers at the Wilmington Experimental Station and Products. of 23.1 percent, followed closely by figures, was 2,231,000 units, 12.7 The proposed administrative the Stine-Haskell Research Center near Newark, Del. Elmore Associates offers the full line of 3M sun Several advance at Heritage Modesto, Calif., at 21.5 percent. percent above the January level.