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Show f ium? A convertible sens at a higher price (premium) than the market value of the shares that it can be converted into. Yoo are compensated for the extra cost with a yield that Is higher and more secure A "convertible" pays a fixed interest rate, like any bond, bat caa Shearson be converted by the holder into shares of the issuer's common stock at any time. If you want to tap LEHMAN iiuitcn market growth, a "convertible" purchased from a food emerging growth company la an attractive industry cook! increase la value alone vita the company's stock. Bat if yew also believe the market may torn downward at some point, the same convertible also could fjre yoo some protection because it wont drop la value as quickly as the stock. Which ever view yoo take as a prospective buyer, yoo caa make a better decision If yoo understand what convertible bonds are, and how they react to market movements. Here are Ave often-askquestions: What is a convertible's prem Ebeirioo Uhmu Hotton 2343 Foothill Blvd. Salt Lai CMy, t'tali CONVERTIBLE EOffifi. EPfDGWG TWO W0RLD6 StorkJ or bonds? Many investors choose om or the other. Bat for the growth potential those who of stocks and the relative security at the sane ttaf , the of borvi convertible bowl cocld be the answer. This special type of bond, Vjh value is linked to 1U Issuer's stork but b not as volatile, con-bin- es possible growth with a degree of downside protection. nt than the dividends yoo woold get from common stocks. The interest yields on food convertible bonds, la fact, averafs about 4 higher than the dividend yields on stocks, A premium typically is about 30 above the value of the stocks' equivalent. What Is the "preratam recovery"? One consideration is how long it will take the hisfcer Held of a convertible to offset the premiom. Typically, it takes about three years for the income from a bond to make op the difference. The exact is called the pr era tarn or break-eve- n time. Too cal-colat- ion ed ry, Announcing an investment move every serious investor should know about: the new shearson lehman hutton office at 2348 Foothill Blvd. Salt Lake City, Utah 84109 11 In today's uncertain investment world, more and more investor are a&kiriz questions. That's why so many of" them are coming to us. Which has created a problem: our old offices grew too cramped to handle the demand. So we're moving to bigger offices. To help celebrate our move, we're offering a free copy of our bro chure, "Minds Over SHEARSON Money." Contact your LEHMAN Financial Consultant or HUTTON Shearson Lehman t AnitHtat boms snmpany Hutton today. n Or write: Lehman Hut ton Foothill Blvd. Lake City, Utah 84109 Sneerso 234 Salt I'm tjmk mvrstor PtmtiendmtM free brochure ihst tmwert the quotient t houi4 be mkm hAMt ft) if sun cifi f Mivft 7ir n4unsMfm tee Minds Over Money. i I 4 CALL:1-800-662-005- should know the premium recovery time before you invest. How does a convertible react when the Issuer's stock goes op? While yoo are waiting tor the premium recovery to be offset, the value of the bond itself should go op alone; with the price of the Issuer's stock, although not as quickly. When this happens, the owner of the convertible could make money two ways. The holder may convert the bond into stock if the value of the tmderlylnf stock equals or exceeds the price of the bond. Or, if the value has gone op bat not enough to convert, the holder may sell the bond to someone who expects its value to increase further. What happens to a convertible if the issuer's stock goes down? The convertible goes down, too, out not as fast. This "delay" gives investors a degree of safety because they caa hold the convertible through a period of stock price weakness or have time to sell the convertible before its value falls sharply. In any case, The bond Is more secure than common stock. On the event of bankruptcy the convertible bond is paid off before the stock J What happens when a convertible is called? When a company 'calls' its convertible bonds aa investor has three options: 1) convert the bond into common stock (thereby forfeiting accrued Interest); 2) take the company's cash redemption price; or 3) sell the bond on the open market. Most convertibles, however, are issued with a "can protection" feature, which prohibits the company from call leg the bonds for a specified period (normally two or three years). By tracklnf an issuer's common stock, convertible bonds offer conservative investors the opportunity to participate in the equity market with some downside protection. However, convertibles are not suited to every investor. Be sere to ask your Flniclal Consultant about some of the investment's other features, ueb as the bond's conversion price and the trade-of- f between yelld and expected growth, n Union Pacific 33 United Old Timers I A, Visitation & Rotiromont Party :at Richmond Hall, March 4,. 1989 POT LUCIfeWNNEB J . I Jill s sct JCS Mayer Fetrunry 8 wwrfcs as a paf assistant as tte B&st Floor of tt LesttMsre. Slut also tonr4 ltt esptol tautifSsg mi ant M ESwjS 4-- Er 5 Mayer to diens ExSe&rka 111 Is t&e dasher of Jerry asd Jaxlce Mayer of MEfard. March 2,1989 4 HERE'S MORE ABOUT Gity Oooneil bel&f done "because apparently the Board has want to do." CouneUaaa Florence did not Johnson and indicated that he had been a with Commissioner afree sea bar of the City Library Board when some of the bids for work had cane la and they had Ufbtek boa the first Uds because they were hi excess of the money available. Board Member Both Smith statedthat "Everythlnf we afree oa is chanced by Kathleen". Mrs. Smith farther stated we tried to ten her "that this is public money; we wanted it la the City funds" but Jshe threw fits." Mrs. Smith continued by statins;. "We accepted a bid from AAF Electric that they would do our electrical work" and then later not have the bid . "they (AAF) were called and told that no, they did on these bids and vote to Is Board "rota the Smith felt that if ttac there and aothiac is not decided, what they off Mrs. .accept them, why aren't they Jollowed throush by the Librarian?" Board Member Clna Mayer explained that durlaf a Library Meetlnf hi December she made a "motion that we purchase the material from Mllford Valley Hardware and Mike Schow be palda hourly wae to lower those ee Hints." Then ca 'Van. 12, 1 rescinded my mot I donl feel there is a bondlaf company behind Mike." Mrs. Mayer also Indicated that she has a problem with not beta Informed about the due date when grants need to be spent, and further stated that "We're all Just kladofbaafiBf In the air and art really nderstandlnf whats taktaf place". librarian Kathleea Jones explained that thellBAAi?? TRUSTEE ff A SOB 00 IT "Clearly states that the Board makes the policies and I enforce them." Mrs. Jones indicated that she does not have a vote on the Board and cannot act on aaythtaf the Board does not authorize. She also felt that the work at the Library needs to be done so that these grants wont be Jeopardized. Councilman Mayer inquired of Mrs. Jones "Why she felt necessary to bring her attorney to City Council." Mrs Jones stated, "Because ! dldnt want to get worked cm- - Uw coals, I want my rights protected too." Mrs. Jones also pointed out that a Councilman had instructed her not to attend CUy Council Meetings. Councilman Florence explained that he had told her "not to come here because of the friction between the City employees and her." Mrs. Jones further stated that the Mayor had called her and threatened her "with being fired". Mayor Mayer denied this accusation, but stated for the record "If I've got the privilege to fire you, I would." Cooncllmu Thomas mentioned that Library Board Chairman, Shermaa Myers is going to rescind everything thats been done "from day one" and then hold a meeting to set things up and do them right. Commissioner Johnson summarized the sttuattoa as being a problem "between the Librarian and the Board, and the reason we've got that problem is because the Board and tha Librarian have not got clear definitions on exactly what their Job descriptions are". Attorney Winchester stated that "Whatever has got to be done aeeds to be done before the grant money I lost. That's the reason we're here tonight, so we can get the thing back on track". Council officially approved the following seven people to serve on the Library Board: Sherman Myers; Councilman Harku Thomas; Clna Mayer; Both Smith; Helen Sherwood; Wayne W. Wiseman; and Ton! Rollins. Councilman Davis reported that Robert Davis would like to be excluded from the Board. Mayor Mayer apologized for a few brajs statements made "in anger" and welcomed everyone to City Council Meetings with "open arras." . Ia other business, Mayor Mayer explained that ta 1980, Mllford received a loan of $225,000 for use at the Industrial Park, wtth payments to begta ta 1990. He stated that he and John Williams met with the Community Impact Board and succeeded ta having this "loan converted to a grant.' Council authorized the Mayor to sign a contract which amends , the original contract, relieving Mllford City of repaying the Ion-bec- ause ef insulation was Installed at the pool. Mr. Johnson stated he will dlscuM the m attre with he architect. CouncUnaa Mayer also reported ' yial O power contract 11 with a the Council Kane preliminary presented Attorney between UDOT and Mllford City concerning the Main Street project. Be pointed out that one item in the contract would require TOOT to Inspect the new water k sewer lines. Council authorized the Mayor and Recorder to sign this document. Attorney Kartell also presented a -- blanks" resolution "fill-ta-t- he drawn up by the Water Pollution Control Committee concerning the bonding for the Water A Sewer project. Be indicated these papers need to be prepared and then sent to the Attorney General for Us review. Councilman Davis Inquired if any "Impact funds" are available, stating that with the re -- routing of traffic, "there wont be anything left of the backstreets".Mayor Mayer suggested negotiating with UDOT so that the streets will be given back ta the same condition as before the project. Council approved a resolution concerning cemetery plots which states that plots cannot be purchased until time of use, but may be reserved; and also adds a perpetual care fee of $50 per plot; purchase price will be per plot for residents win remain at $200, while raised to $100. Attorney Kane 11 pointed out that people living on Mllford Council deleted a clause which Flat are coailVred would have charged time and a half for opening and closing fees on weekends and holidays. The consensus of the Council was to send notice to the owner of the fcmier Tomsik Garage allowing him 60 daystoremove old underground storage tanks. If he does not comply, the City win remove them and MU the owner. Mayor Mayer recommended the City Inspector examine the boiHteg so that the CMy can proceed wtth causing the building to be repaired or demolished, r Kirk presented CooncU wtth one bid to purchase City property located near the cemetery. Attorn yKaaell suggested no action be taken until he researches to determine if that property was donated to the City specifically for cemetery nse. Cook 11 approved that aa indhidaal be billed for storage of personal Ukttgtegs at the new CMy shed. Attorney KaneU suggested the City ay want to taction those items to collect storage fees. Conacfl approved a letter be written tothe Railroad. Councilman Mayer explained that this letter would propose that Mllford CKy win provide a 4 Inch water connection to the Railroad for $2500. In return, UVJrxi City wishes to hook a 1 Inch line into the Railroads existing line. The amount of water used by the CMy win be deducted from that ned by the Eailroad; Water rights rill be leased for $1 per year; also, the CMy would like monthly water fees exchanged for lease payments to typd Wal'priair mh i70. 13 V Thursday Cty pickup- -. ... ' CowcUnraa Mayer indicated to Commissioner Johnson that the wrong Winners in NEWS Council approved the purchase of a new blade for the City backboe; lor use at the City Office; and a bed liner for the Gilford Elementary Reflections Contest Voter Awareness H Program, Storms fcatirrrttr OwtTJCJT 4-- COUNTY 2 tables and 4 chairs Issues faeisgtTlah teen- agers. Tk assistant fpe day is part of tfce CraJs State tTsfverstty rub S Social at 6:00 R.m Dinner at 6:00 p.m. & rvir-u- a s BEAVT2 13 "non-residents- If 1 com- SioepHsl !ha 5 Fiat lcJ (S s$our4l a procran) Jor stumt wtJtli frt'h-ni'j!- to tt Sroni itiie frxjcrsni- - Most ti our rpl1 tnter-m- Ec.-iwi(- tl 1c iwport-aut- )y be itk4 (or nrtnm-4i- g to KWy t8X-i- S F3 teJ'jra aetlas tt prsw!4e etc lbi!rtArt furvfral as airy ttee. S wuy ts rn-aii- f is a r on. Bo! nut LIlc J emwrea -! fnai rvw rua-suu- ii unyourjiiftLHt. 0w dow, IJ Vf, sip cude and jjlut f 1.7t fur jiiwuif ui tiHiiriiiii U Aatenctai )duu6y, 121 fioui Btrwit, ifvBier hvy4 Jivm Turk HT71. Ktw Tor rtmv fienU fcCtd uppropriHl suit tas, PituuM: jimit CMtary. ti4U, pui t.W furyusut and k tie dtx.frr Vir. 1 Clruiua. f 12ta4(!BUtCaoi4 ta , fj-a- ,, cc s ei-c- s f B 4 ckr-aee .Crltion. Otir slncltif every sver are la iron) a Jolit; Eiil9 as b euury; Eryaa Musk); CcCy mi (TuU Am; sliastc (Art tie PaUraal. Er- Xar-c&ta- nt Tar-- 7 VdbtTtM irtxteofTttfrfti (PM.trKjh K'.dySvm 'n usl'.) 4 Cica htix (L3cncrt). vr EijSa Sritocd: Claistt Lv tiseocriftj) aai Kyle V ar ctasa (Vtesal Arts). TbeM entries have be seat oa to Crlir City 1st CoBptt- - fr- 1 oui4 Sa to Newspapers sen-e..- ar frieuas Ifor thettuulw3y carts aiifl Cwri BSrtuuy, rcv4 Jw aid it visit tfary to my feoa.e.TliMtii one ry much. BTJ77 vo . aJ3ccy y 8Trrrti!ytiipirfdiiinTiS fw NnrvaPEX PEOPLE SERVE G PEOPLE CoancUmaa Davis reported that several people are interested ta having Street (from Center Street Sorts) re zoned as commercial property. o official action was taken at tMs time. Coandlaean Florence raised concerns about the crossing lights near t&e grade school, which are not taste. Council agreed to accept Sheriff Tarlk7s offer to have police officers help man the lights. CouncUfsaa Florence reported that aa tadiridual is Interested In purchasing tie "old" snow plow owned by the CMy. Mayor Mayer Instructed Mr. Florence to have that person subm tt a bid. Councilman Florence referred Council to some figures preseated ty Counctimaa Mayer at a prertocs meet log concerning losses at recreational faclUties ta Mllford. Cooacilman Florence presented his own set of Cgsres, stating these figures were obtained from papers prepared ty Coordinator Kennedy, which show that rather than a Iocs as CouKCaaa Ma7r rrrted, tiers was actually a bottom line surphis of $4,41 at that rime. Below U a comparison of both sets of figures: CouneUaaa Mayer CouneUaaa Florence Golf Course $1 5,954 loss $2,000 surplus tfiCC surplos $10,815.75 loss Swtastag Pool Ban Fart $530 fees $2241 loss M am Mayor Mayer read a letter from Carl Palmer and Associates d to the advantages of power plants; and Inquired if the CMy would be tntereiaed ta a rresentatioa explaining how Mllford CMy could sen wholesale power and receive the gross profits. Cooncfl- man Florence raised ofcjectJofci, but other members Indicated that Mr. Palmer could attend a regular Council Meeting. In addition, a CPAL representative win be trrfced to meet with the Council for a 'Abuttal." (However, not at the same meetlisg). Cnuncllaaa Mayer revested the Council withdraw tnto closed session lor "litigation purposes". At 11:19 pj Mayor Mayer Invited the Beaver County Sew back inside the buUdlng, at winch time he officially jcloi the meeting. per-talat- ag ...ty wt aaj everyLory SnfJ yuur name, Irt-W- Thanks g pfi. Its and Handy Knit Cord of f tL. aJ tv7 Us Kaail Caapl!i-je- yt"ve If ii it full culw,, wOL tatty AAuliu HirRrucUoii wu fi clear, sUiby-Biej- p Lid iLupunis. Tuke your jiiti of biir ruum. loye, ituikitm aucmwurMi, iiomc ueowriituiiis fur yiuc jjTD.iiicu just rigid fur wutiduig, umiverMrM, grfcdua-tiutaiii utiter bvci vvmii u Imlidrya. .rE jffyw'r a impimer Hi iustruciunit us tU bwuot gfiaMidiDwurt wiE jet you in no tin iurlioui of tmast yuu Ban nitiLt fur rreryut uiiowi u Dtterafcar tt wiE Leep yoii rf urvMCi- 44 t2 MaJ A grifU lB,stJas-cnt- r , Frail and Taa n y cf gyros is pve r Satcroay, Eer entry Dtrtsisa. Matt7 KkJt, I, by titt ArTienctsa iuui tLal liuudUit. Tf9 ttviitvej tr'm USSitri t&ei Is Che Clstrkt tie FT "Fefic -CBjt3!i'js tiaut" Cmrflt, Ti eoeries ere Mxrta f GOT BOOK left, Beaderson, H lMt. FerwyBeJirt-M- THE CHEAT CROCHET UVW, Ordur two uuuk fur M X&zla. J)uicl ta Besver Tf ynu ORXR: ij ttiomSit-vy a frieufl or 31 Easy Projects! 73 cas rH t &ctfcH the Suui. Male your (contrfcutiucs at file procrann Sor iti ioniniut!Jrfy. Ti flmiwy lie .orun)iiia4.fl Jrom its mnoriU jttfte- - Oonatiui fttttle ue 200 acre wmepUift. ASiWoprlat ik:t;no'iflgni!iit jroviad y tt HouJrUtl te few to-w- arJ itiiij f Che otu!ioiif are Ite Tre-asnre- s a 2 yar asf.KU JJCMi 4f a 4 year dgre esiarse jui4 ti proiran) !liwe rul-ite- e nil iimwova stuifiiie lor (H BoBpltiiL AD in all a wvry ti-tir- lJ Sroni trvi. receive H3 tlilsr-iil- p to cure e eotd. an the noes Fwopte befaeve mute cm . cMy-owne- |