Oil stocks up, but Dow barely budges In last 12 months, indicator rises 9%

The Ticker

September 30, 1993|By Julius Westheimer

Although oil stocks surged on news that the OPEC cartel agreed to limit production, the Dow Jones industrial average barely budged yesterday. The Dow indicator edged up 0.28 to close at 3,566.30, showing a gain of 295 points, or 9 percent, in the roller-coaster year since Sept. 30, 1992.

MONEY TALKS: "October is an especially dangerous month in which to speculate in stocks. So are November, December, January, February, March, April, May, June, July, August and September." (Overheard somewhere)

TRIVIA QUIZ: With the Orioles' season winding down -- and one bright spot Cal Ripken's uninterrupted playing streak -- would you like to guess where the Dow Jones industrials stood on May 30, 1982, on the day the star shortstop's playing streak began? Read on.

BALTIMORE BEAT: Want to know how the new tax bill affects your pocketbook? Dean Witter's Larry Adam will send you a fine booklet, "The Dean Witter Investor's Guide to The 1993 Tax Bill" if you phone 547-7030 or write him c/o his firm at 250 W. Pratt St., Baltimore 21201. The brochure contains valuable charts, specific examples and a very readable text . . . The following stocks with local connections reached 12-month highs earlier this week: Alex. Brown, CSX, Marriott, Martin Marietta, Primerica and the Rouse Co. . . . U.S. Surgical stock, widely held in this area, is mentioned in Forbes, Oct. 11, in David Dreman's column, as follows: "When you buy a growth stock, you are betting that security analysts' earnings expectations will be on the mark. But they seldom are. High-flying U.S. Surgical dropped 84 percent when analysts cut their 1993 earnings estimates from $3 a share to 60 cents."

MONTH-END MEMOS: The Kiplinger Washington Letter says that you can figure on a 2.6 percent boost in Social Security benefits in January. . . . The letter also warns that the IRS is tightening up on charitable giving beginning Jan. 1, with rrTC receipt required in addition to your canceled check . . . If you want a "Government Auctions/Sales manual," a handy guide to auctions of surplus government property, send a $10 check or money order to McKee Co., 5910 S. University Blvd., Suite 6033, Littleton, Colo. 80121 . . . "Buy dry cereal only if the price is less than eight cents an ounce; it can run as high as 20 cents." ("The Tightwad Gazette.") . . . "Each of the following stocks currently is recommended by three or more newsletters that outperformed the Wilshire 5000 index over the past 60 months: Applied Materials, Cabletron, Cisco Systems, Computer Associates, Electronic Arts, Motorola and Synoptics." (Hulbert Financial Digest)

MONEY-SAVER: "What To Ask Before Hiring a Lawyer" is worth reading in Money magazine, October. The article suggests you ask these questions: Do you really need a lawyer? ("In some cases you could take your case to small-claims court without a lawyer.") Does the lawyer have enough experience? ("One sign is whether the lawyer is armed with a selection of sample documents; less time drafting documents should equal lower bills.") How long will it take? ("If the lawyer is drafting documents, you should see a version within three weeks.") How much will it cost? ("Before meeting face-to-face, ask about fees.") Suggestion: The American Bar Association offers a guide, "The American Lawyer: When and How to Use One," ($4.50). Send check or money order to: American Bar Association, Order Fulfillment Department, 750 Lake Shore Drive, Chicago, Ill. 60611.

QUIZ ANSWER: On the day that Cal Ripken's playing streak began, May 30, 1982, the Dow Jones industrial average closed at 819.54. The Dow has more than quadrupled in those 11 years and four months.

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