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ION I-PAGE • • PLAINDE ALER - WEDNESDAY» JULY 11.If7f Pl.\T\ni\ I F R _ \ Editorial Positive View Of Work [qmleapepI A. G. Edwards & Sons, Inc. WEEKLY MARKET REPORT If a bookie watched people fuming in gas lines, reaching for the aspirin while reading the newspaper, going on forced diets because it costs so much to eat, and turning pale while listening to the daily threats of no oil from this or that QPEC nation, he would have to make it no more than an even bet that our nation will survive the year. Sure, there are very valid reasons for pessimism and we have little doubt that soipe new shock could hurt the market short term. However, investors have worried about recession * and inflation, and the dollar, and the administration, and energy for over a year and in most cases either the worst has already happened or is assumed to be on the way. All of this gloom and doom has left us with tremendous values in the stock market. That's nice, but isn't the key. v The key to the long term outlook for the stock market is that most good quality companies, with some important exceptions, do not go down much anymore no matter what the news. And, if you look under the misleading Dow Industrials, a select group of stocks have been attracting nfoney for months. All of this despite one piece of bad news after the next. Its almost mind boggling to ponder what would happen if there was ever any good news. When the broad market acts as it currently does and the world looks so bad, it's time to think long term and not worry about the daily fluctuations. It isn't riskless when the market is bottom fishing, but when one feels seasick while sitting at a desk, it's time to do some buying. Last week held all kinds of neys, mostly negative. The new OPEC prieing structure came in about as expected-BAD. The consumer price index rose a sharp 1.1 percent in May and the Nation's trade deficit leaped $2.48 billion. Libya said they may stop exporting oil for several years-hard to believe. But the threat did point out how fragile our Middle East oil source is. Monday Saudi Arabia said they would increase production on a temporary basis but President Carter's comments about a possible recession counterbalanced that news and stocks went down rather easily. It's days like Monday which make it difficult to keep your lunch down and that's one of our personal and best buy signals. Two points: (1) The economy is going to get worse but then it will improve and (2) lots of companies will do Well anyway, will raise dividends, and are already attracting money. A1 Goldman 303 N Richmond Rd , McHenry Eyes examined Contact Lenses Glasses fitted Mon , Tues., Thurs., Fri.. 4 * p m Tues., Thurs., Fri., 7 »p m sat . f: 10 to 1:00 _ Ph. 10S-41S1 or IOS-2243 Fire, Autq, Farm. Lite Representing RELIABLE COMPANIES 4410 W. Rte. 120. McHenry 1IS-3300 McHENRY COUNTY OFFICE MACHINES Administration (EDA) against granting a $63.5 million loan guarantee to Wheeling-Pittsburgh Steel Corp. The vote came during consideration of an appropriations bill (HR 4289),,- later passed and sent to conference with the House. Part of a proposed $100 million loan guarantee package aimed at keeping the^_ company afloat, the guarantee at issue would underwrite construction of a new rail mill. Other steel companies with rail mills dislike the idea of the federal government bankrolling a new competitor. / Sen. Lowell Weicker, R-Conn., sponsor of the amendment, said: "This is a test of the free enterprise system much like the/ Lockheed loan guarantee of several years ago....To what extent should the taxpayer be asked to underwrite loans to financially i sick companies?" ----*-- Sen. John Heinz, R-Pa., an opponent, said Wheeling-Pittsburgh employs 14,500 persons and "cannot be replaced and cannot survive without (federal) assistance." Members voting "nay" want the company to receive the full $100 million in federal loan guarantees. Sen. Charles Percy, R, voted "nay." Sen. Adlai Stevenson, D, did not vote. BOAT PEOPLE -The Senate adopted, 70 for and 22 against, an amendment to spend more moeny this fiscal year (FY 1979) on programs enabling Vietnamese refugees to relocate in the U.S. The amendment added $15.85 million for that purpose to an appropriations bill (HR 4289; see vote above). It also deleted $27.7 million in technical assistance funds for the United Nations. Sen. Rudy Boschwitz, R-Minn., the sponsor, said: "These Indochinese refugees cannot wait until fiscal year 1980." Sen. Walter Huddleston, D-Ky., an opponent, said other countries such as China should be more open to the refugees. He added: "I am not unsympathetic to the plight of the refugees. I wish we would take them all. But obviously we cannot. So do we try to take a few more, or do we try to take the million individuals which the Vietnamese government is expected to expel eventually?" Senators voting "yea" favored the extra money for refugees. Percy voted "yea." Stevenson did not vote. ' FOOD STAMPS - By a vote of 28 for and 62 against, the Senate rejected an amendment cutting $189 million from an additional $989 million fiscal 1979'appropriation for food stamps, supporters of the amendment said the Department of Agriculture has done little to prevent waste and fraud in the food stamp program. Opponents argued that more money is needed to accommodate inflation and an increase in the number of stamp recipients. The vote came during debate on HR 4289 (see vote above). Senators voting "yea" favored a lower outlay for food stamps. Percy and Stevenson voted "nay." SALES SERVICE * RENTALS Mon-Satt-S: 10 Friday til t:00 *3 Grant St., CrystalXake Ph.4J».|22* 3311W. Elm St. McHenry. in. 315-71 It McHENRY CHAMBER OF COMMERCE 385-4300 FAMILY SERVICE ft MENTAL HEALTH CLINIC 3409 W. Waukegan Road , Melting ------ 385-6400 PARENTAL STRESS UNE OF McHENRY COUNTY Meeting Place: McHenry County 24 hours adayjdaysaweek Call 815-344-3944 Parents Anonymous meetings on Wednesday. STATE CHAMBER GOVERNMENT REGULATIONS HOTLINE 217-522-5514 FEDERAL GOVERNMENT GENERAL SERVICES ADMINISTRATION 202-755-8660 Hours7:30a.m. to 5:30 p.m. weekdays (Ever had a problem involving the federal government and not know where to call? And then been given a runaround or referrals by persons who meant well but didn't know how to help? Ten specialists available at this center.) NATIONAL RUN-AWAY SWITCHBOARD Illinois Phone: 800-372-6004 (For confidential conversation on problems dealing with run-away children) / ' MOVING HOTLINE V Phone 800-424-9213 (Complaints about interestste moving by 'companies, buses or trains. Sponsored by Interstate Commerce commission) CONSUMER PRODUCT SAFETY COMMISSION Phone 800-638-2666 (For questions or complaints on products ranging from toys to ovens) NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION Phone 800-424-9393 ( Answers questions about automobile safety defects or whether a particular model has ever been recalled. Variable for those interested in buying a used car) ILLINOIS DEPARTMENT OF" CHILDREN AND FAMILY SERVICES Child Abuse Center ^ McHenry County (312) 546-2150 CONSUMER PRODUCT SAFETY COMMISSION 800-638-2666 (Operates five national lines. Answers inquiries about, or reporting on, the safety of products from kitchen appliances to children's toys) NATIONAL SOLAR HEATING AND COOLING INFORMATION CENTER 800-523-2929 ' , P.O. Box 1607, Rockville, Md. 20850 (Dispenses information on solar systems for heating and cooling to anyone from architects to home owners looking for a sun-powered hot-water system) • r v. CONSUMER PROTECTION DIVISION ; 312-793-3580 Chicago, III. bikthkh.ht Prr^nani? Nml Help? r.»uiiM>lin|t Srnirr. .'IH.V2W*#. 2 Minur An- •< Mr ring Mervirr. __ . YOUTH SERVICE BUREAU FOR McHENRY COUNTY 840 N. Seminary Avenue, Woodstock - " Phone: 338-7360 24-hour Crisis Intervention and Confidential Counseling for youth and families. Are you concerend about your angry feelings toward your children? 24-hour Parental Stress Line; 344-3944. ILLINOIS STATE CHAMBER HOTLINE Phone 217-522-5514 Answer to questions oif government regulations. M %_w at our quick-action copy center. FINEST QUALITY COPIES MADE ON XEROX EQUIPMENT See us, also, for every kind of Printing Need!! striking independent truckers will not be tolerated. Thompson previously authorized use of Illinois National Guard helicopters to aid Illinois state police in surveillance and patrol of striking truckers' activities. Truclfer Violence In authorizing last week the call-up of Illinois National Guard personnel to patrol two interstates in southern and south central Illinois, Governor James R. Thompaan repeated his warning that violence by 3909 W. MAIN HILLSBORO & OWNES DUMP-FLATBEDS-CAR HAULERS Stidham Horse & Cattle Trailers Plus A Complete Line Of Broden Winches ADAMS ENTERPRISES 3017 W. Rte. 120 AAcHENRY. ILL. B1S-MS-5970 For Your Information Dear friends. Do You Know Someone New? Every day in the U.S. more than 5200 people die. The majority are elderly and it often marks the involuntary end of a marriage. Survivors then foce what psychologists feel is the greatest adjustment that life calls on us to make • adjusting to the loss of a loved one. Grief counseling Is often needed to help the bereaved readjust to a new, wholesome pat­ tern of life. Respectfully, WE WOULD LIKE TO EXTEND A ROYAL WELCOME TO EVERY NEWCOMER TO _ OUR AREA!!!!! 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