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Show visions, radios and evening ta- 'papers, the talk was of an economic disaster and the begiiinir.g of a possible new depression for America and the world. Vet, the sum came up again on Tuesday. The financial market system held together, and Investors learned that they would live to fight another day. Even now, as financial markets continue to search for direction. It Is instructive to put "Black Monday" Into perspective as to its causes and Its lessons for Indivi-- SHFARSON LEHMAN HUTTON c3 E3 Kelly M. Smith Shearson Lehman Hutton 2343 Foothill Blvd. Salt Lake City, Utah Understanding the "Crash of '67" Lessons for the livUvi-lua- l Investor I! you're asked In the year 2000 where you were arvi .tat you ere doing on Monday, October 13, 1987, the changes are good you will give a very precise answer. On "Black Monday," the Dow Jones Industrial Average plummeted 508 points, of 22.6 percent of Its value almost twice tie percentage drop of the "Crash of '29." As people gather around tele dual investors. One important fact often overlooked is that the Dow began Its five-yebull run in August 1S32 it 777 points, peaking in August more than a 2S0 1587 at 2722 percent gain, the 22.6 percent, one-d- i ar ed ay drop was unprecedented, tut represented five-ye- ar only one -- fifth of the gain. This means many i'zVoih m!ne4 substantial g.ns even after the tumultuous week of October 19. The second lesson Is how different 1387 is from 1523. Today, most economists discount the possibility of a rerun of the financial collapse that followed the 1323 crash. The basic reasons are a stronger and more a!ert Federal Peserve, the seperatlon of the banking system from the market system, tougher restrictions on margin rapine (buying stocks on credit) and the "safety net" of bank deposits and securities account insurance. Each is a result of lessons learned from 1923. The actual cause of "Black Monday" 13 more difficult to pinpoint. Most experts identify three key factors: and massive Federal budget trade deficits, which have turned :t PARI OTH EKE. Beaver County News the U.S. into the worlds largest debtor nation; sophistication of global financial markets with computerized trading and new instruments such as stock ' index trading, that Increase market volatility; Investors psychology that translated the above factors and lack of action from Washington, D.C., into a panicked stampede. As for tfe Individual investor, the lessons from October 19 were many, and sometimes painful. On the most the obvious level, many learned basic reality of the stock market what goes up may come down. Many first time investors had never experienced a significant loss. Even more Investors learned the market can be a perilous place without expert Clients of full -- service brokerage firms hid Investment decisions. In a situation Financlla Consultants backed by opto -- the -- instant information to help them make Investment decisions. In a situation where time literally was money, firms cleared clients transactions as quickly as fxss:b!e, often saving several dollars a share in the falling market. Many other firms' clearing time may have been longer since they had to go throjgn third-partifor tr ier transactions. lastly, individual Investors lear- April 27, 1S83 SAYE $ $ S FARM GATES .$59. 10'. ...69.95 ...79.95 ...89.95 -- 12'. 14'. SHEARSON LEHMAN HUTTON. ned f t 10 CURRENT RATE SHEARSON LEHMAN HUTTON An pi African carwy IVlliNLo tween investments? We recommend parking it in a CD you can buy from Shearson Lehman Hutton, For several reasons. First, it's insured. Second, the yields are high. Third, you pay no commission. Find out more, la Ik to one of our Financial Consultants today. UVtK IVIUnitY. Effective 041189- - FDKiarFSUCamffled. Rafcw CalI:1-800-662-005- Grwrife: 4 Shtarton Lehman Hutton 2348 Footh.U eivd Salt Lake Cty. Utah 84109 C I'kae vnd me free informal un on CDs. PLANT o atead to 1 550, you might there are any good values today's markets. The answer g wcr:der if in -- -- I k..i.. Tbmmn'beMvubAmatiptMfaeiiAy wthdj'j. a&Mb UTAH SLNIOR CITIZENS GET MORE PROPERTY TAX RELIEF Utahns will receive greater procr before December 31 of the year perty tax relief because of action being claimed. by the 1989 Utah Etate LegislatRenters may receive a refund ure. Tax credits or rental ref- based on the rent paid and the ttnds of up to 490 are available household Income received for the through the Circuit Breaker Proyear preceding the year the claim gram for property owners, nobjle Is made. horoewoners, and refers. The e Mobile homeowners can receive trcult Breaver Frograni ts admina refund based on the property istered by (the counties and the taxes paid on the mobile home Utah State Tax Commission. plus the property taxes or rent Individuals must meet the folpaid for the space In the mobile lowing requirements for the Clr-u- lt home park. breaker Program Renters and mobile homeowners I. The applicant must t 05 must make their claim with the years of age or cider, or a widow Utah Etate Tax Commission by .or widower regardless of are. Dec. 31, ! 89. Homeowners could 2. The total household annual apply through their county through Income must be less than $15,000 1, 1989, but after that May Including any income from childapply through the Etate Tax ren, grandchildren or other (even Commission by Dec. 31, 1989. If not related to each other) livThe amount of the refund or ing in the home. Income Includes, Is based on the income credit but 16 not limited to, wages, of the applicant and the amount Income, interest, divof the property taxes or rent paid idends, rents, social securitypen-sion- s, and cannot exceed $400. unemployment compensatThe Tax Cwnlseion has dev'exion, and welfare payment eloped two revised forms to recluding food jmps). place the three forms used in pre3. The applicant must have ien vious years. The new forms aie a legal resident of Utah for the simpler to follow and have a larentire year for which the claim ger print size to assist the taxIs made. Home aud mobiie home payer. owners must own and occupy the Information of the Circuit Breahome as of January 1 of the year ker Program as well as other for which the claim is nia3e. types of property tax relief for Eenter6 must have lived in the the visually handicapped, veterans, housing unit sunject to the pro and county Indigent abatement is tax for the previous year. perty available from the Utah State Tax 4. The property owners must 8, Commission, outside provide over 50 percent of his Salt Lake County her total support. and at the Beaver County Clerk's 5. The applicant must meet all Office at 2. of the foregoing qualifications on date-mus- ly is yes. However more than ev-r- , financial success will 4er: 1 ci a clear understanding of iflve'.tme' goals, advice from a qjaJjf.ei Financial Consultant, and a diversified portfolio of invest-i- f e.'s. Professional Relief for Sore Throat PUNAIAY Pain.Painalay. Relieves minor sore throat cr moiln pain FAST. Begins to worts on contact. Convenient spray is easy to use Lowest price of any national fcrand PAINALAY TAKES THE PAIN A'. TRIPS MT Htking? Bring A Map UTrfther 3'our hike lasts a few hours or a few weeks,, it's always a step in the right direction if you bring along a map. if 7 p F. )l Iflll i BllK witer softener, is in the Mojave IliGEHIOUS JIGS! m 0 ft Of 0 handbooit on the router wili transform vour most tedious, and diffi cult lotto into siniplt routines All 384 pag are packed with over WK' ptiotos and drafcman-qualit- ', drawing outliiimt; liundrtdk of short cutb. siiop tips and trick of tin- tradt to Itelp you save A Practical tins anu money It'b 3 Ihm4i it oni- witii kfun you liuv iiB, safety feature hints lirvcloptidio (including liw to cli:k for weatuiiies invisihle ti tlie naked ew), and hov. technique tor conmiercialh nuitk jij$. bit?' and hundreds of aids and devices. 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SIDE WALK SALE at 6th Ar hwtmcliofl and BuvtMj Guide to all the new conmiercia! routing machines plus exciting revijlutionan muter inly nam absolutely brand iuw Stop-by-SHmidWli ti;at includei instructions for making mxr UK) mitnnwus jigs tr cut jwrfea oials, stiuares, rectangie. and 0)untless other reititivtI'lus duzfif opfiiect to aid ir. mastering the use of eadi jig and fixture you make Rottt, Evrgrns & M II ? A good map will not only determine direction, but describe tfte shape of the land. A good topographic map, for example, will not only show you the distance between any two placet, it will describe the thape ci' the land. This is done by contour lines, report exerts at the U.S GeolopcaJ Survey. These are imaginary hiieb that follow the proond surface at a if constant elevation. You can a hill is eteep when the contour lines are close together. These maps will also define end fealocate natural and man-mad- e tures such as woodlands, waterways, important buildings and bridges. Interestingly, maps not only help you find your way, they're nice to have around after your trip so you can remember it. It's not hard to find maps, either. They are at clow as your nearest map dealer. 930-tO- TREE INCLUIDIM UP TO MAY 3rd, 4th, 5th, i 8 tt-1- I iu.s 274 s Q 322 6783 8 5 SAT. I 438-235- a EXIT OREM - FREEWAY MONDAY FRIDAY iTIDQ OM 53.0-484- The world's best source ot borax, desert, California. A TOLt FREE PHONE 1 800 126 NORTH 1330 WEST April 23, Arbor Day, Senior CitCenters throughout Utah will be planting trees for the benefit of their descendants. Concerned about children growing up in a safe and healthy environment, Senior Citizen Centers will begin a tradition this year of planting a tree to Improve the air and contribute to the health and beauty of their communities. There are over 21,000 seniors who participate everyday In social, eisjcaflonal and recreational opportunities offered by 100 Centers State !de. Senior Belief was conceived as a result of the State Division of Ag-t- ig and Global Belief, a national campaign aimed at reducing the CC2 bLiid-u- p in the earth's atmosphere, sponsored by the American Forestry Association. According to Bonnie At hag, Program Coordinator for the State Division of Aging, "It used to be that 79 was old. Kow more and more people are living full lives to 9 and SO. These seniors are propie who have contributed much throughout thesr lives to their communities. The eperience they share has hiped them realize the Importance giving sonsethinf back to the world. We are proud that they have chosen to take an active role In protecting our envlrontnent.' pf'fXi Iyy:r 12'. izen 19. AAi ...69.95 ...79.95 BUILT TO LAST " re-co- What exactly do you do with your money in be- 10'. GREEN COLOR ' -- .$59.5 "IIOTAGIIEAPIE" Ll NAT I OVili. t u t STEEL U;;d the value of a divers If :ed portfolio. As recently as Get ter 12, many major firms rr mended clients keep 25 percent er .Ticre of their assest in cash cr e'juivaiecs and a similar amount in fied intoffse bonds, leaving less than half their run Is in the stock rrarSt, Those ito followed this ad vie e had some solace on October j-i- 8'. RUGGED DUALITY full-servi- ce CDS AVAILABLE THROUGH M PORTABLE PANELS CORRAL 8'. es SHORT-TER- 6 Thursday 49 |