Jiattrlipatpr Hrralft in What Denom- Bill You Want to Buy
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W — MANCHESTER HERALD. Tuesday, Nov. 11, 1986 t - MANCH B U S IN E S S FOCUS Rain and snow Potatoes take heip"and hurt the top spot Business In Brief ‘ :■ 'V-V;. ^ . T bills come in variety of sizes ... page 12 ... pegs 13' QUESTION: ton, D.C. There are 12 district government, this was a capital Lydall’s 3rd-quarter sales rise A speaker at a Federal Reserve Banks and 25 gains situation and I should be able Lydall Inc. of Manchester this week reported sales of $26.9 seminar I at branches around thecountry. Your to deduct the fee I paid to the million for the third quarter of 1986, compared with $24.6 million broker at the time of purchase tended said " T local bank can provide the address for the fame period last year. from the gain I report on my biiis” are the Investors’ of the fed bank or branch serving Millard H. Pryor Jr., the company’s chairman, said earnings your area. income tax return. best investment for the third quarter dropped from a 1985 figure of $580,000, or 20 for senior citi Guide If you decide to go the do-it- If I must report this as interest, yourself route, get a tender form am I permitted to deduct the cents a share to $314,000 or 10 cents a share this year. zens today. The reasons for the drop was attributed to a number of things, Piease teii me A. Doyle and instruction for filling it out. brokerage fee from the interest? including a one-time charge of 24 cents a share to cover a net cost about T bitls. Along with the tender, you must ANSWER: You must report the of closing the company’s elastomer plant in Chicago and What are they? pay the full face amount of the T difference between the price you transferring its product line to other Lydall locations. Jiattrlipatpr Hrralft In what denom- bill you want to buy. Within a week paid and theTbiH’smaturity value inations are after the auction, you’ll receive a as interest. The Internal Revenue This shift caused some interruption of production and ) Manchester — A City of Village Charm they soid? Where can I buy them? bills every fourth Thursday, except “ discount check” for the differ Code specifies that T bills are decreased productivity fo r the quarter, the company reported.^ When do they pay intftrest? when a holiday necessitates a ence between the price at which “ excluded from consideration as From an operational standpoint, the company said, Lydalls’ change. you buy the T bill and the T bill’ s capital assets.” Fiber Material Group had a good quarter overall. Despite some ANSWER: T bill is the nickname There are twoways to buyT bills. fsc0 vdlu0 You are not allowed deduct the pressure from increased raw material costs, lower demand and 30 C e n ts Low for U.S. Treasury bill, our federal You can have a securities broker In 1987, 'T bills will be phased into broker’s fee from that interest. effects of vacation shutdowns, the group benefited from tight cost Wednesday, Nov. 12,1966 Temt government’ s shortest term debt age firm or a bank do it for you. Or, the new "Treasury Direct” pro Now, the good news. Assuming controls and particular emphasis on new product development. N obligation. They are available with you can make it a do-it-yourself gram. When that happens, dis you Itemize, you can take that maturities of 13, 26 and 52 weeks project. count checks will not be mailed toT broker’s fee as an itemized deduc and in $10,000 minimum By going through a brokerage or bill buyers. Instead, that money tion on your income tax return. List T-blll Interest rates at 3-month high denominations. bank, ybu buy the T bill at the will be deposited, by electronic it as an investment expense under Pratt WASHINGTON — Interest rates on short-term Treasury 8th District T bills are “ discount securities. ’’ discounted purchase price and pay funds transfer, in the T bill buyers’ miscellaneous deductions You Imy at a price below face value a fee — typically $35 to $60. Each bank accounts. Things will change next year. securities rose in Monday’s auctions to their highest levels in and receive the face value at brokerage and bank sets its own The new tax law says that, nearly three months. maturity. charge. QUESTION: A $50,000 face beginning in 1987, virtually all The Treasury Department soid $8.0 billion in three-month bills Show amount U.S. Treasury bill I owned trims The 13- and 20-week bills are To handle it on your own, you itemized deductions inust exceed 2 at an average discount rate of 5.41 percent, up from 5.23 percent auctioned off every Monday, un submit a "tender” to a Federal matured in 1986. It seems to me percent of your adjusted gross last week. Another $8.0 billion was sold in six-month bills at an seeks talks less a holiday causes the sale to be Reserve Ban k or branch or the U.S. that, as I bought the T bill from the income before you get a tax average discount rate of 5.54 percent, up from 5.30 percent last Friday or Tuesday; the 52-week Treasury Department in Washing government and sold it back to the deduction. NATIOB week. eastern The rates were the highest since three-month bills sold for 5.64 force percent and six-month bills averaged 5.65 percent last August 18. northerr The new discount rates understate the actual return to investors — 5.56 percent for three-month bills with a $10,000 bill on disputes Homeowners learn lesson on energy By John F. Kirch selling for $9,863.20 and and 5.78 percent for six-month bills Herald Reporter By John Cunniff Countries, turned the world oil to conserve. Some products, in billion on home improvements and selling for $9,719.90. J V The Associated Press market upside down, suddenly fact, were designed to be wasteful; repairs, compared with less than More than 1,500 managerial and By George Layng not a liaison committee. The way transferring power from buyer to pretty design, that is, often was $70 billion a year earlier. And the supervisory employees of the Pratt Herald Reporter talks will be held will be deter Dollar, gold lose ground In trading A Whitney Aircraft Group stand to NEW YORK — It is an oft- seller. valued more than efficiency. biggest segment of those expendi mined later if the directors agreed lose their Jobs in the next year forgotten lesson, even in a capital Soon after, Americans who had But the lesson was learned, and tures was for improving energy LONDON — The U.S. dollar was marginally down against most In an attempt to compromise on to them, he said. during a major reorganization, a ist society that endorses it as a been heating homes with oil priced almost every new factory, ma efficiency — not for adding European currencies in quiet trading today, while gold lost $4 to problems involving fire protection Lassow said this morning he and company official said today. fundamental law of economic life. at around 20 cents a gallon were chine and vehicle built since then luxuries. $5 a troy ounce. and sewer service in Manchester, LaBelle might appear before the It is the realization that you can paying more than a dollar. Mo has given energy efficiency top A survey by the National Re- Currency dealers said markets were quieted by the scheduled The cutbacks are taking place in the Eighth Utilities District has town directors when they meet Connecticut and Florida, the two turn markets upside down by reover, the general inflation that priority. And nowhere has it been modelor’ s Council gives the break closure of U.S. banks for Veterans’ Day observances Tuesday. created a two-man committee to Thursday. However, he said they down: Window and door replace- states where Pratt & Whitney has changing the price of a product. followed undermined the buying more evident than in the homes in In Tokyo, where trading ends before Europe’s business day explore the possibility of holding might opt instead to send the town which we live. ment 18.6 percent; its highest concentration of em The Arab oil embargo of 1973, power of paychecks. begins, the dollar closed at 162.65 yen, unchanged from Monday’s negotiations with the town of directors a letter asking for a and the subsequent setting of The experience was traumaticto According to the National Asso roofing-siding-insulation 12.1 per ployees, spokesman Curtis G. Manchester. meeting. ciation of Home Builders, house cent; adding a wood stove or close. Later, in London, it was quoted at 162.55 yen. Linke said. He said that between higher prices by OPEC, the Organ an economy so used to low-cost District President Walter Joyner DiRosa said he does not core how holds last year spent more than $80 fireplace 6.3 percent. 1,500 and 2,000 employees in the two ization of Petroleum Exporting energy that it had made little effort today said he has asked district the talks are held. All matters states will be affected as positions Director Gordon Lassow and dis should be open to compromise, he are eliminated and workers are trict legal counsel John D. LaBelle argued, including the possibility of' asked either to leave the company Jr. to contact the Manchester the district surrendering its sewer with benefits or take alternative N.Y.