ALL EPTJQN8 MONDAY, DECEMBER 21, 1987 THE ARIZONA REPUBLIC OS Election year may help stock market recover We're famous for value. Vertical Files are 25" deep with heavy-duty, full cradle suspension and spring loaded follower block. 1 Icavy gauge steel with thumb latches. In black or sand finish. Private labeled; 12-year warranty.
Locks 15 extra. recovered some of their losses after the election, Though stocks have never fallen in the year of a Republican victory, the 500 barely eked out a 1.4 percent advance in 1984, when President Reagan was elected to his second term. So although the coming election might represent a point in the market's favor, it doesn't necessarily make a compelling case by itself. In the time-honored Wall Street expression, "past performance does hot guarantee future results." election: Harry Truman in 1948 and John Kennedy in 1960. However, those two years followed distinctly different patterns.
Truman's victory over Thomas Dewey was an upset that, as the stock chart for the year clearly attests, surprised investors as much as it did many of the "experts." The market rose strongly for most of the year right up to the day before the election and fell sharply afterward. In 1960, by contrast, prices slumped early in the year and 2 dr. letter RENTMO. I 2 dr. legal RENTMO.
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an increase in government spending or both; and an expansionary monetary policy. The federal budget has been out of balance for so long that it looks like a very unlikely vessel right now for more doses of stimulus. And the Federal Reserve seems leery of easing credit now because that could hurt the already depressed dollar in foreign exchange. Nevertheless, analysts say, "An easy-credit, low-interest-rate Fed policy is a distinct possibility. "The odds are strongly against a 1988 policy of high interest rates unless inflation should sharply accelerate, a development our economists do not anticipate.
"Sharply lower stock markets worldwide, with their implications for reduced consumer spending and slower economic growth or even recession, are not the stuff of which inflation is made." LeFevre argued, "It must be remembered that Alan Greenspan (the new chairman of the Fed) is a Republican. Don't expect these current upticks in interest rates to continue." The record of the 10 most-recent election years seemingly reinforces Wall Street's pro-Republican image. The only two declines took place in years when Democrats won the The Associated Press NEW YORK Many Wall Streeters hoping for a recovery in stock prices in 1988 are quick to say that the market usually does well in presidential-election years. They have recent historical evidence on their side. As Standard Poor's weekly publication The Outlook noted in a recent the 500-stock index has posted gains in eight of the 10 election years since World War II.
That showing, The Outlook ok served, "would appear to be better than can reasonably be attributed entirely to chance." "The evidence seems to suggest that a presidential-election year will evoke an effort by the incumbent administration to stimulate the economy, produce 'good and thus win votes," it said. Or, as William LeFevre, an analyst at Advest put it, "Even chauffeur-driven chieftains in Washington know that the pocket-book is the biggest issue when people go to the polls, as they will next November 8." The question remains, however, whether politicians in power at any given time can successfully make the economy do their bidding. The two standard tools for pepping up the economy are fiscal stimulus, in the form of a tax cut, We Make Loans. 2202 South 7th Street Phoenix, AZ Aaron Rents Sells TELEX INTERNATIONAL TELEX-TELEGRAM -MAILGRAM SERVICE We also Provide Bookkeeping for Small Businesses 938-1845 254-4949 office Furniture for Our FREE Brochure JJ tl IlllMI Call 967-8555 III Hours: Mon-Frl; 9-4 Sat. First National Bank 1 I 1 i in; -Tin POWER RD.
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Highland Park Bids, Hioh- office space; 2 bay garage. lv.Wos.f. enclosed id Scoltsdale Rd. Call nd AAA izanne Press! itMksour CentralIn ssmir lMh part of a wider strategy by banks to discourage small accounts. Banks are requiring higher minimum balances for savings accounts, imposing higher user fees and overdraft charges for checking accounts and closing many branch offices, said Stephen Brobeck, executive director of the Consumer Federation of America, an advocacy group based in Washington.
The phase-out of Christmas club accounts "reinforces a trend of low-and moderate-income families dropping out of the banking system entirely," he said. For their part, the banks say that many families had already abandoned Christmas clubs for more lucrative savings instruments offered in recent years, such as interest-bearing checking accounts, money-market accounts and higher-yielding passbook accounts. "Christmas clubs are an old-fashioned product that many modern consumers felt no longer suited their needs," said Meany of the bankers group. Still, some advocates of the clubs would like to see the program offered at grade schools and high schools to establish habits of thrift. And Alderfer insisted that bank officials who killed the clubs now are discovering they made a mistake.
"They are recognizing that they need the retail customer in their bank, and there's no better tool to get them than the Christmas club," he said. STAURANT LOCATION: tutions with coupon books, promotional materials and gifts. In 1984, 23Linillion people deposited $6 billion in accounts serviced by the company, which is based in Easton, Pa. both the number of accounts and the size of the deposits have fallen by 20 percent. Even with the downturn, the company supplies more than 6,000 banks, savings and loans and credit unions, over half the total number of financial institutions that offer the clubs nationwide, according to Ken Alderfer, Christmas Club's vice president and general sales manager.
In all, there are 17,800 banks and savings and loans and 17,000 credit unions in the country. "Christmas clubs are something that the end user wants, but the struggle has been with the banks themselves," Alderfer said. "People want to come into the banks, but the banks don't always want the people." Indeed, electronic transfers may have brought some clubs into the black, but they did not sit well with some club members who stopped participating because they preferred the weekly ritual of visiting the bank. Automatic deposits also cut membership by limiting customers to those with other types of accounts. Decisions to eliminate or de-emphasize Christmas clubs, which usually do not charge service fees or require a minimum balance, have drawn fire from consumer advocates who say these moves are ifiru feiiilde.
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The PC-3: At 25.5 pounds, our simplest and most colorful model (choose red, blue, black or white). The PC-5: Copies business card to letter size, with a multi-stack feeder for convenience. The PC-5L: Multi-stack feeder, and copies all the way up to legal size. All Canon PC copiers use our PC Mini-Cartridcc for virtually service-free copying in black, red, blue, brown or green. Annualized Minimum Deposit $2,500 Rate Yield Insured Money Market Checking 6.25 6.43 6 Month Certificate of Deposit 8.00 8.24 1 Year Certificate of Deposit 8.25 8.51 Minimum Deposit $10,000 Insured Money Market Savings 7.25 7.45 At Sun State, we've made it our business to offer higher interest and better service than the megabanks.
Come in today and see the difference. We're open Monday through Thursday and until Friday. For all our current rates, call our 24-hour Rate Line at 224-1126 or 1-800-235-3938. 0 1987 Canon U.S.A., Inc. To obtain your $50 Rebate, please read the following information: PLEASE CHECK THE APPROPRIATE BOXES MODEL I PC-3 AGE 4 Under 16 7 26-40 Years 2.
0 PC-5 5. 16-20 Years 8. 41-60 Years 3.0PC-5L 6. 0 21 -25 Years 9. Over 60 Years PURCHASE 10 Business Use 11 Personal Use 1 2.
Store Where Purchased PLEASE SEND REBATE TO: SUN For each Canon Personal Copier PC-3, PC-5 or PC-5L you buy between October 15, 1987 and December 31, 1987, send in this completed coupon along with the Canon PC registration card and the completed Bill of Sale with the dealer name imprinted. RULES AND REGULATIONS 1 Marl this coupon, PC registration card and completed Bill of Sale to: Canon PC Rebate PO. Box 9554, Peabodyi MA 01961-9554 All documents must be original-not photocopies. 2. Claims must be postmarked by January 31, 1988.
3. This offer applies to final sales only and is good only in the U.S.A. Void where taxed or prohibited by law. 4. Please allow 6-8 weeks for delivery of your check.
Canon US. Inc. is not responsible for lost or misdirected marl. 5. No merchandise will be returned after sale? 6.
If you have any questions about the requirements or procedures involved in this promotion, please write: Canon US. One Canon Plaza Lake Success, NY 11042 ATTN: PC Copier Div. 'Subject to local laws and regulations NAMPUASEPIUN1 IP OIV Home Office: 4222 East Camelback Road, Phoenix 224-1 108 Sun City Regional Office: 99th Ave. Bell Promenade Shopping Center 972-6500 MORE THAN $850 MILLION IN ASSETS All deposits insured up to $100,000 by FSLIC. Certificates of Deposit compounded quarterly.
Annualized yield is computed assuming principal and interest remain in the account and rates remain in effect for one year Rates subject to change limited to personal deposits; balances below JtOjOOO earn 550. Tl'LEPHONE Vend where prohibited, taxed or restricted by law. Any requests postmarked al ler Jan. 31, 1988 will be returned. Canon FSLIC sanngat iMKAwMiat urKtaniial nenaltv for earh; withdrawal..
