VOL. 2 #3 1 8.0.0.0 4 and world-famous beauty authority, is National Beauty and Fashion Advisor for Sears, Roebuck & Co. and President of her own firm, Arlene Dahl Enterprises, Ltd. It is so easy to be carried away by your emotions at the beauty counter. But in these inflationary times it is important to budget here just as you do in the super- market. It is a bit more difficult, however, because beauty and personal care products are not as easy to judge for value as a box of cereal or a head of lettuce. Still, there are some things you should keep in mind. For example: 1. Shop in stores that have a fairly wide range of products so you can compare. 2. If you are in the mood to try something new, look for the stores that have cosmeticians on hand who can advise and demon- strate new products. Many more well known department stores -- and even some large drugstores today have these experts on hand. Look for “Gift with Purchase” situ- ations. 3. Also, when experimenting - try the smaller sizes. Many of the well known brands today have less expensive experimental sizes for new users. 4. Shop for the best prices - but don’t expect the famous name brands to differ very much. But like any shopping -- you may find bargains by looking carefully. 5. You might consider some of the new multi-use products. A new coloring, for example, can lips. Also, some products provide (CONT. ON PAGE 8) Start first with you car. Don't plan any trip over a thousand miles without first getting a thorough check-up. Tires, battery, radiator, the carburator, and brakes - especially should be in tip top condition. It might be a good time to buy new tires - and keep the half used ones in reserve. Repairs made on the road - particularly those involving tow charges - can be very expensive. Next - while it is fun to follow your wanderlust - it is more fun to have a place to stay every night. Try before starting off each morning to have your over night reservations made. This way you'll know the price you'll be paying - and you'll have peace of mind during the day. Better plan to make reserva- tions several days ahead for .weekend reservations or for where tourism is especially popular. You can save money on phone calls by using one of the several motel chains which make reservations way you can shop in supermarkets for many picnic type foods which would cost much more at roadside restaurants. Also when traveling with children you might want to carry along some laundry pro- ducts so you can use coin operat- ed laundramats for washing. All (CONT. ON PAGE 9) John C. Whitehead, Chairman of the Securities Industries Association reports on the stock market today - and offers some suggestions to keep it healthy. permission to bring its readers these timely comments from John C. Whitehead, partner of Gold- man, Sachs & Company, a major brokerage firm, as well as Chair- man of SID. “Today investors span the full range of people of this nation. In fact, the largest single group of investors (30%) are in the $10,000 to $15,000 income group. Almost 19 million shareowners have stock portfolios worth less than $10,000 and they live in just about every part of the country. Interestingly, the largest in- creases in ownership are among people south of the Mason-Dixon Line. California is the number one state in shareowners, followed by New York and Illinois. “All investors - big and small - are very important to the economic health of the nation. It is their willingness to invest - and thus supply the financial fuel - that keeps our economy growing and competitive in a changing world. Capital investment is es- sential to national progress. It is a resource just as important - but at times less understood than our other resources such as land, raw materials, labor and management. The continuous flow of goods and services is dependent upon in- vestor’s willingness to share the risks as well as the rewards of corporate enterprise. “For example, during the past decade, the confidence of in- vestors in computer companies certainly helped the growth rate of this now booming industry. The investments by shareholders not only build companies and indus- tries but as a result they create many new jobs, too. “As economic growth expands JOHN C. WHITEHEAD during the next decade the need for new money from investors will increase substantially more than in the past ten years. To make this investment possible we will need incentives to encourage all in- vestors - especially the smaller ones - to forego some spending and take the risks of investing. We believe that new, positive in- centives are required to encourage this. “One suggestion is to make the tax burden on investors less burdensome. For example, many older investors are locked into their stock market holdings. This has happened because they bought their stocks many years ago. Over the years the stock has increased in value so much that to change them now would require paying substantial capital gains tax which could amount up to 36% of the profit they have earned over many years. After paying the tax they would have reduced their capital and income too much. Thus they hold onto the stocks and as a result get less return than they might if they could buy high- er income stocks and bonds. This is a hardship especially on older people who need to supplement Social Security and pension in- come. “We offer a very specific sug- gestion here. We recommend that the tax code be amended to per- mit individuals upon attaining the age of 65 to roll over one time any assets that qualify for long term capital gains tax without in- curring any tax liability. It would permit elderly people to then make new investments in a manner best for their new circumstances. This is quite similar to the provision made when a person sells his house. He does not have to pay a capital tax if he uses the money to buy another house within a year. The problem is not confined to just older people. About 29% of all shareholders have hesitated to sell their stocks for the same reason. “If such a new law were passed, it would not only help individual investors by providing greater en- couragement and incentives to re- invest in new stocks, the stock market itself would be strengthen- - ed. As a direct result it would help provide the required capital needed in the years ahead for new business enterprises, new jobs and a healthier economy. In the long run such growth in economic activity would greatly increase government tax revenues. “Therefore, in order to provide fairer tax treatment for all in- vestors, we have proposed new re- forms. These proposals would give recognition to the fact that the six month time that separates long term gains from ordinary transac- tions simply does not square with reality. The proposals are: (1) Define ‘short term’ gains as those involving assets held for 3 months or less - and tax these as ordinary income. (2) Introduce a new category of ‘intermediate term’ gains to in- clude assets held between 3 and 12 months. These would receive the 50% exclusion treatment making the top rate at 35%. (3) Define gains on assets held for one year or more as long term and tax them under a sliding scale going from the present 50% ex- clusion in taxable income for holdings under five years down to 10% after 20 years.” IN THIS ISSUE... Page 1 . Page 1 Page 5 Stock Market Encourages Small Investor Ideas on Food Budgeting . ... ... Page 6 EE i EO ERR Page 1 - Fun and Fashion in Quilt Making . . . Page 7 Investing-in Stocks and Bonds . . . . Page 2 Facts About Your Dog's Food Dollar. Page 7 The Barometer ............. Page 3 Selling Products from Your Home . . Page 8 Laser the Wizard's Forecast . . . . . . Page 4 AnEditorial: on SE, sa Page 9 Making Your Future Financially Secure Commemorative Coins. . . ..... Page 11 Re ee ea Page 5
Significant historical Pennsylvania newspapers