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HomeMy WebLinkAbout1991-07-25 - Agendas - Final• • • FIRE PENSION AGENDA ITEMS FOR 7-25-91 t?:z rr_yr/ gab- irfc) • • DOUG NORWOOD HOLLY L. SMITH, +* • • + Also Admitted in Oklahoma Also Admitted in Missouri * Also a C P A. NORWOOD & SMITH, PA. ATTORNEYS AT LAW AUG 1 5 1991 r1TY PERSONNEL DIVISION July 24, 1991 City of%)/eije',//CFire Department RE: Len R. Lewis To Whom it May Concern: Reply To: ,,;16 P.O. Box 7000 Springdale, AR 72766 (501) 361-2121 0 205 W. Elm St Rogers, AR 72756 (501) 636-1262 Enclosed you will find a copy of a Divorce Decree filed in Washington County on July 10, 1991. Please note that the Property Division gives my client, Marvie Lewis, 1/2 of Mr. Lewis' pension. My client would like that mailed directly to her at P.O. Box 295, Elkins, AR 72727. If you have any questions, or need any further information, please do not hesitate to let me know. cc: Marvie Lewis lewis.out Very incerely Yours, Holly - Smith 1 t • IN THE CHANCERY COURT OF WASHINGTON COUNTY, ARKANSAS FAYETTEVILLE, ARKANSAS MARVIE LEWIS, PLAINTIFF VS. CASE NO. -f-r---.9/-8 ` LEN R. LEWIS, On this )CLHday of • -; C DEFENDANT : DECREE 1991, this cause comes on to be heard. The Plaintiff, Marvie Lewis, having appeared in person and with an attorney, and the Defendant appearing not; and the cause was submitted to the Court on the Plaintiff's Complaint, and the evidence presented at the hearing including the corraborating testimony of �(1arSiviL Pa (lc_ , from all of which the Court, •being well and sufficiently advised in the premises, finds • and orders as follows: 7. JURISDICTION: That the Court has jurisdiction over the parties and the subject matter of this action. S. DIVORCE: That the allegations and materials contained in the Plaintiff's Petition are true and that Plaintiff is entitled to an absolute divorce on the grounds set out therein. 9. NO CHILDREN: That no children, still minors, were born of the marriage and none are expected. 10. PROPERTY DIVISION: That Plaintiff and Defendant are owners of real and/or personal property which shall be divided as follows: • r 0 • • Plaintiff: The Plaintiff is awarded the following as Plaintiff's sole and separate property, and the Defendant is divested of all right, title, interest and claim in and to such property: (a) Clothes and personal possessions (b) As shown in Exhibit A, which is attached hereto and by reference incorporated herein. Defendant: The Defendant is awarded the following as Defendant's sole and separate property, and the Plaintiff is divested of all right, title, interest and claim in and to such property: (a) Clothes and personal possessions (b) As shown in Exhibit A, which is attached hereto and by reference incorporated herein. 11. DEBTS DIVISION: That there are certain debts of the parties which shall be paid as follows: Plaintiff: The Plaintiff will pay, as part of the division of the estate of the parties, the following debts and obligations and shall indemnify and hold Defendant and Defendant's property harmless from any failure to so discharge these debts and obligations: (a) Any and all debts incurred solely by the Plaintiff from and after 5/2/91, unless express provision is made herein to the contrary. (b) All debts secured by the property awarded to the Plaintiff herein, unless express provision is made herein to the contrary. Defendant: The Defendant will pay, as part of the division of the estate of the parties, the following debts and obligations and shall indemnify and hold Plaintiff and Plaintiff's property harmless from any failure to so discharge these debts and obligations: (a) Any and all debts incurred solely by the Defendant from and after 5/2/91, unless express provision is made herein to the contrary. (b) All debts secured by the property awarded to the Defendant herein, unless express provision is made herein to the contrary 12. DIVISION OF UNDISCLOSED LIABILITIES: As a part of the division of the estate of the parties, that any community liability not expressly assumed by a party under this Decree is to be paid by the party incurring the liability. 13. COURT COSTS: All costs of Court expended in this cause are to be taxed against the party incurring the cost. IT IS SO ORDERED. AGREED: d MARVIE1EL.Lt div ,. LENR. LEWIS dr APPROV S, TO FO ONTENT: Att rney fintfff Attorney for Defendant or Defendant PREPARED BY: NORWOOD & SMITH, P. A. Attorneys at Law 205 W. Elm St. P. O. Box 7000 Rogers, AR 72756 Springdale, AR 72766 (501) 636-1262 (501) 361-2121 • • • • EXHIBIT A TO DIVORCE DECREE PROPERTY TO BE RETAINED BY THE PLAINTIFF: (a) House on Harris Drive, more particularly described as: Part of the Southwest Quarter (SW1/4) of the Northeast Quarter (NE1/4) of Section Twenty-seven (27), Township Sixteen (16) North, Range Twenty-nine (29) West of the 5th P.M., and being more particularly described as follows, to -wit: Beginning at the Southeast corner of the said 40 acre tract; thence South 89 degrees 48'50" West 660 feet; thence North 661.51 feet; thence North 89 degress 44'01" East 660 feet, thence South 660 feet to the point of beginning, containing 10.01 acres, more or less. (b) All the contents of the house on Harris Drive. (c) Lawn Mower and Tiller. (d) Plaintiff's Wal-Mart stock. (e) 1/2 of the C.D. (f) 1/2 of Defendant's pension from the fire department. (g) automobile. (h) Arkansas Lot, more particularly described as: Lot 70, Block IV, Moulder Hollow Subdivision of the Lost Bridge Village Development, as shown on the map of plat thereof in Volume 0, Page 121 of the Plat Records of Benton County, Arkansas. PROPERTY TO BE RETAINED BY DEFENDANT: (a) Farm in Madison County, more particularly described as: (See attached exhibit B which is attached hereto and by reference incorporated within.) (b) All farm equipment (c) All cattle (d) Defendant's Wal-Mart stock (e) truck (f) 2 chan saws (f) Defendant's tools (g) 1/2 of C.D. (h) Oklahoma Lot, more particularly described as: Lot 6, DRIPPING SPRINGS ADDITION, Delaware County, State of Oklahoma. (i) 1/2 of the amount (if any) that the net sales price for the house on Harris Drive exceeds $61,000.00 (net after all closing costs and costs of sales and real estate commission). Said sale of the house must take place within one year or this paragraph (i) becomes null and void. lop ./ EXHIBIT B A part of the Southwest Quarter of the Northeast Quarter (SW4 NE%); a part of the Southeast Quarter of the Northeast Quarter (SE4 NE4); a part of the Northeast Quarter of the Northeast Quarter (NE% NES); • of Section 14, and a part of the Northwest Quarter of the Northwest Quarter (NWk NA) and the Southwest Quarter of the Northwest Quarter (SWC NWS) in Section 13, all in Township 15 North, Range 27 West. Described as beginning at the Northeast corner of the said SWC NW4 Section 13, thence along the East line thereof, S. 00-16-05 W. 1325.45 feet; thence N 89-42-28 W. 1312.85 feet; thence N 00-06-17 E 86.31 feet to a rock wall; thence along said rock wall, N 79-47-23 W 96.73 feet, N 50-31-39 W 204.70 feet, N 64-02-18 W 244.43 felt, S 76-21-28 W. 135.92 feet, S 72-20-13 W 133.02 feet, S 67=44-48 W 69.58 feet; S 55-39-38 W. 85.94 feet; thence 5 '72-07-58 W 265.97 feet, along a fence to the centerline of Drake's Creek; thence along said centerline N 71-45-42 W. 432.06 feet, N 08-59-11 W. 396.41 feet; along centerline of Highway #295; thence leaving said Highway and along said center- line of draw N 49-24-30 E. 665.07 feet, N 40-33-56 E 92.99 feet, N 60-51-00 E. 135.31 feet, to a fence; thence leaving said draw and along said fence N 39-36-23 W. 161.50 feet, N 30-46-15 W 99.58 feet, S 89-55-21 E 1122.84 feet to an existing stone; thence leaving said fence, S 32-59-19 W. 106.08 feet, to the North line of the said SW4 of the NWy Section 13, thence along said North line S 89-37-42 E 1316.64 feet, to the point of beginning, containing MTh acres, more or less, Madison County, Arkansas. FAYE'1"1 I ALF. • •CTY OF FAYETTEVILLE, ARKANSAS August 26, 1991 Ms. Marvie Lewis 245 Happy Hollow Road Fayetteville, AR 72701 Dear Ms. Lewis: Correspondence has been received from Norwood and Smith Law Offices requesting that one-half of Roger Lewis' pension be sent to you. Before any pension distribution can be mailed to you, a Form W -4P must be on file with this office. Please complete the enclosed Form W -4P and return it to this office. An envelope has been provided for your convenience. If you have any questions, please call me at 575-8298. • Thank you for your help. Sincerely, Marilyn J. Cramer Accounting Manager • 113 WEST MOUNTAIN 72701 501 521-7700 MERRILL LYNCH 425 W. CAPITOL, *200 LITTLE ROCK, AR 72701 ATTN: DON PRESTON FAYEPR (01 CITY OF FAYETTEVILLE FIRE PENSION & RELIEF FUND APRIL 1, 1991 - JUNE 30, 1991 $ 2,267,306.82 NM CAPITAL MANAGEMENT 7510 MONTGOMERY NE ALBUQUERQUE, NM 87109 TEL. (505) 888-9500 JUNE 30, 1991 18 TOTAL 0.550X -BALANCE 3,117.55 COMPUTED FEE: ACCT NO 563 96346 *** DUB UPON RECEIPT *** $ 3,117.55 $ 3,117.55 1 1 1 1 1 1 1• 1 1 1 1 1 1• 1 QUARTERLY REPORT June 30, 1991 CITY OF FAYETTEVILLE FIRE PENSION AND RELIEF FUND 1 1 1 1 1 1 1* 1 1 1 1 1 • 1 NM Capital Management, Inc. Quarterly Investment Comment 2nd Quarter 1991 QUARTER IN REVIEW Following a sharp rise in the first quarter of 1991, the stock market consolidated in the second quarter. The popular stock indices (DOW, S&P 500) remained in a relatively narrow trading range during the quarter with the S&P 500 (including dividends) down 0.2% for the three months. Bond returns for the quarter were also lackluster with broad bond index returns up only 1.5%. The first quarter was dominated by the success of the Gulf War, declining interest rates, increased money supply growth by the Fed and anticipation of earnings rebound after the recession. During the month of lune, all gains for the quarter were lost as the S&P 500 slid 45% while interest rates rose about 20 basis points. The investment markets reacted to the slight rise in interest rates, concerns over increasing inflation in a recovering economy, and the prospect of continued weak corporate earnings reports. ECONOMY AND INVESTMENT OUTLOOK Recent data suggests that the recession is bottoming and a recovery will be increasingly evident in the months ahead. The composite index of leading indicators rose 0.8% in May, the fourth consecutive monthly increase. Nonfarm payroll employment increased 13% in May after months of decline. New orders for durable goods, the Consumer Confidence Index and retail sales all rose in May. Despite the strength of the May and early June data, we believe consumer spending will be constrained in the coming months keeping the recovery on a slow path. While the economy has begun to pick up, our outlook for lower inflation appears intact. The Producer Price Index for June declined 0.3% and was up only 3.5% over the past year Raw material prices used in the early stages of production fell 2.6% in June, down 8% from a year ago. In our last Quarterly Comment we mentioned that, in light of economic weakness, the Fed would likely continue a stimulative monetary policy which would moderate the recession and possibly lower interest rates further. The Fed's aggressive money growth policy from November to March, which lowered short term interest rates, appears to have been successful in moderating the recession. However, now that the economy is showing signs of bottoming, the Fed appears to be following a more moderate policy which is unlikely to push short term rates lower unless the recovery falters. The Fed is attempting to stimulate the economy enough to produce sustainable real 2-3% growth while lowering underlying inflation. This is not an easy task partiarlmty when Federal and State tares are increasing which tends to be a drag on economic growth. 1 1 1 1 1 1 1• 1 1 1 1 1 1• 1 As expected, President Bush reappointed Alan Greenspan as Chairman of the Fed. This move tends to reaffirm that the Fed will attempt to keep the economy on a slow recovery path without raising inflation fears. An environment of slow economic recovery and accompanying earnings improvements, moderate inflation and relatively stable to lower long term interest rates make for good politics (1992 is an election year.) and a good environment for stock and bond markets. The stock market at present levels (July 11 Dow 2980) is reasonably valued and already reflects improved corporate earnings prospects for 1992. A severe market correction does not appear imminent in light of recovery prospects except in the unlikely event interest rates soar or the earnings recovery falters. We, therefore, are maintaining our relatively fully invested position in portfolios with emphasis on stocks EQUITY STRATEGY Our value analysis continues to focus on stocks with a mix of the following characteristics: (1) below average price earnings ratios, (2) strong balance sheets, (3) the prospect of stable or accelerating earnings growth, (4) high cash flow, (5) the prospect of increasing dividends, and (6) companies that are dominant in their industry or with a well positioned market niche. During the last five years, high quality, large capitalization, consumer -oriented, growth stocks have been popular. We believe many of these stocks have been bid up to excessive valuation levels based on 18-20% projected growth rates which, in many cases, are not sustainable. Many of the best long term values in today's market appear to be industnal-type issues which have been out of favor due to extended, depressed earnings growth resulting from a combination of subdued sales in the sluggish economy, restructuring, and modernization costs. Even in the depressed economy, a number of these companies have improved product quality and profitability ratios and gained market share. As the U.S. and world economies recover over the next several. year; world-class manufacturers in capital goods, aerospace and technology, and consumer durable sectors face a major opportunity to substantially increase earnings. Equity portfolio diversification continues to be important regardless of the economic outlook and particularly in today's uncertain environment. Therefore, our portfolios reflect both (1) a defensive element with exposure in the non-cyclical consumer sectors, energy and utilities; and (2) the more cyclical groups such as capital goods, consumer cyclical and basic industry stocks. Our stock portfolios emphasize the cyclical sectors which are expected to produce superior returns as recession fears abate and investors focus on recovery earmngs potential. Many financial service stocks appear undervalued by historical standards, but determining attractive values is difficult during this penod of uncertain credit quality. Selectivity is crucial. We have chosen a conservative approach limiting our exposure to several insurance companies, the premier consumer mortgage lender and one consumer oriented regional bank 1 1 1 1 1 1 1• 1 1 1 1 1 • 1 1 FIXED INCOME STRATEGY As the recovery is becoming more pronounced, investors are shifting attention from recession toward the strength of the economy, inflation and the interest rates. As previously mentioned, rates moved higher during the second quarter of 1991, particularly during June As an example, ten year Treasury bond yields increased from 8% to 8.25% by quarter end. Some renewed concerns over inflation and the possibility that the Fed may try to keep a lid on the growth of the economy influenced the nse in rates. The strength of the economy will determine how much inflation will ease as well as how bond yields will perform. During the first year of economic recovery, inflation rates typically decline. Consequently, reported inflation in the months ahead should be positive for bond returns. If the recovery is slow, as we expect, rates me not likely to move much higher and could well decline from present levels Our fixed income strategy in this environment continues to focus on intermediate maturities of 5-10 years. Historical analysis of risk versus return of Treasury bonds favors a portfolio of intermediate bonds. In other words, investors in the past have not been rewarded with enough increased return from long Treasury bonds to justify the price volatility inherent in those long bonds. Bonds purchased in fixed income and balanced portfolios provide a relatively high level of income, reduced volatility and the opportunity for capital appreciation. 1 1 1 1 1 1 1 1 1 U 1• 1 1 1 1 1 1 1 1 REPORTING PERIOD: 04/01/91 TO 06/30/91 FAYETTEVILLE FIRE P d R A/C 107-FAYEPR m W O z c 0 V 0 STATEMENT 2,276,904 04/01/91 MARKET VALUE AT ✓ Z o W J W C - 0 • Y W W W K < L > CO - n O e N O 10 N e N n 1 0 m • O z O K c W 0 O W < L r 0 W z 2 - CAPITAL APPRECIATION (REALIZED G/L 2,267,307 m MARKET VALUE AT 06/30/91 K n IN. o m m - 0 0 CO e P N 1%1'00 e e m N N f7 n n n 0 e - N m FIXED INCOME W E at n n K 0 O O 2,267,307 m Y 0 0 0 O > z e O O 0 W D J L Z C < L e O I- 0 O 0 < O0 SINCE INCEPTION 12 MONTHS 60 e r X 401- -I J K c N z n 2 c K e P K 0 K N O TOTAL FUND K K P e e < M. m n z K K K 01 N n < O P O Z Z K K K K O 01 N N. 0 0 0 KNOVON 0 01 01 n n m n e 0 m n Y1 n V o n 0 P N n 0 0 0 n O O n 10 K K K - n e N N CO O n W N N O O P P P O- O 0 N n e P 10 n 0---o0 L X O J W r O W - O W 2 L n 2 Y O C C n I31 IC r < W L O. Z W 0 C - C - J O r C < O \ 0. s r 2 > C O 0 e C 0. 2 0\ L 0 2 r W • Z> O L O r z ti - r 0'0 z 02 2 . 0 W O 0> e 0 D m 0. J X L J 4 X 0 •-• m J 1 m K ILL W r CO e CO m D L 1 m 1 CO oi yPs- V ett W tatCC Lad 1 - 0 W D W d J 1 1 1 1 1 1 4 - 01 m K J I n m v v O N N v m• O m A v 1 n \ 0 W 1 1 O O- 1 n • 0 0 N m N 0, v .� O N• P) 1 O N Y 1 1 1 1 1 1 1 6 QSECN ONFBE 6 W 4 6 1 0 W W Y < 0 O O Z O - 2 0 0 0 Io n 0 0 N m - 444. N • - A •• m• v m A 0 m A m N N m N••• 0 V) ▪ m v v 0 v m m n V (MAIM A N v• 01 m LL I- 1 O K 1 0 • m n to Al 0 N- N- A m N 0 1 MI 6 1 m N n• m m n N A- N• v - m m — n W J < CURRENT INVESTMENT SUMMARY N A (11 CO 100010.11F0000 CO Y) N A • 0• A• N O o N v • 0 m m A n 0 0 m N• O• m m m m N v N N A- A A- A Al O m m A N A- A• N v n m A N A- CO N - N- 44. - N N 0 N • • n - • O • m CASH EQUIVALENTS FIXED INCOME SECURITIES INTERMEDIATE BONDS m• O v o A• m A N - m• v 0• o- • A- N• v• m 4.4 A A • - 4-00101006101• A- m n m• v m m ▪ - N - W m E W O J 0 CO Z < 0 0 Z W m m W m 3 J J W .44 0 0 0• < Z - 1- Z W 1< 0• 0 Y O X Z K W O K - •- 0 D I- 0 I- Y J 0 Y. Z 0< 0 0< - W E - CO 3 r J I- CC J K K 0 O K< 7 J • - F m E E E< Y L L1 0 4 I O W>> K 1- • 0124-40 • F - m m W- Z o 2< J I- 2 I- Z Z F 6 W•< 2• j D 0 f0.1 0 W E 1- 6 d O W 2,249,604 TOTAL INVESTMENTS ACCRUED INTEREST E 2 1 1• I - O I I M 0 CO J n \ 7 W I I o 0 — I in co ›- 1 1 1 1 1 1 N. b I 1.1.1:1 J 1 ' o I- W 0 /- 4 J II W < < O F O W W t < < O 00 0 _ O 2 4 I- 0 O CO M d W D J < CURRENT 1 1 1 1 1 GSECW ONFBE K L W )- < < LL < 1 i 1 INVESTMENT SUMMARY N O ACCRUED DIVIDENDS e 1\ n (9 N M O O O 2,267,307 2,187,358 TOTAL VALUE N W O < 0. MGMT, INC. J < d < 0 L z 1 10 1 1 1 1 1 1 1 1 1 1 C O n .- N 0 01 A 0. 7 O )- 0. 00 0 m 0 0 0 W W o m n n 0 0 n I- E - N N /0 N n < 0 0 O m CO m 0 01 01 z - - 0 - z Y. r 1 0 m m m v n n 0 O C 1 0 1 01 TV O n P P Y K d 1 1 7 m P N 0 ID 0 n N 1 J to O - N n 01 P 0 I. < W > P/ N ▪ N 01 N • 10 01 N Y 0 0 0 0 N 0 0 01 C J 01 < < E I- CC 0 I- 1- m z W 0. C C W 0 r N ID 01 0 01 01 W 7 0 0 m • N 01 01 P 0 C O - 1 C - 01 N 01 10 n 11 0. 1 d O O O o O o Of W J J 1 1- N 01 N N 0 f Z m CO n 0 N 0 C O O m 0 • 0 01 01 - 0 ✓ 0 01 01 • 0 ▪ 01 < J O 01 m 0 01 W L < 01 I. low C C < O O LL 4 1- Z 1- GSECW ONFBE 1 W m 1 - IC 0 0 0 0 O O - C 11 > < CASH EQUIVALENTS 203,681 CASH RECEIVABLE O n FIXED INCOME SECURITIES NTERMEDIATE BONDS 10 0 0 n P N n 0 - 01 P) m - m m O m 01 m m m 01 O 01 01 m m 0 r n A n 0 01 0 01 m 01 m 01 m r\ r\ r\ r\ O\ z o i n z n z n 0 0 P1 - - < 0 < N. < < n < W O W- 0 W O W O 0 C C C C O I. r r r 1- E m O m O m n CO 0 W n W n W W O J N r N r 0 r n r MTG ASSOC m 01 01 0 m N. r N. o_ z m N. m N▪ . < o O W r o 0 m n m J n W n t- ; r m < • • • < • • < • < r m r< m r< m r m < Z m i m r O. O 10 m m - 1 J O O 0 0 < < 0 f la la la IC Of la r r r W W r 0 0 Z i Z i W W Z 7 7 3 7 Is. Y. 7 O 0 0 0 0 0 0 O O 0 0 0 0 0 O O 0 0 0 0 0 O O 0 0 0 0 • 0 O O 0 N 0 0 0 O 0 m W 0 o < n 0. to t▪ o N m O m 1- TOTAL INTERMEDIATES MGMT, INC. J 1•• d O r i I _ C 0 m D J \ 0 )- 0 O \ 0 I m W _ < 0 O O - Z 0- 1- < 1CC • 141 W L < C C 0 < O O ' LL W I - 111 Z W 0 I- < 0 S 0 I 0 0 C 0. O O. > 1 < 1 1 1 1 GSECW ONFBE 1 < 1 • 1 LONG TERM BONDS • 0 in N • m n N N n m Y n- A m N 0 O A O A tl O m n N O P 0 • n f n m m Y 0 m n m n tl 0 O 0 0 A v o tl n n • N n - CO NI N .- m A •- n Ol N 0) n r 0 m m n f m m 0 r • 17 tl 0 0 N 0 0) n A O 0 n n m n tl NNONON O N N m m 0 tl n m 0- 01 m N O N m f m N m n N N 0) m 0 Y m 1. A n CO m m CO - 0 N. m n In < - W - 1- m 0 W O < n • I- 0 0 W 1- Z 0 0 0 •0 n TOTAL FIXED INCOME EQUITIES CONSUMER NON -DURABLES m Y tl r O A - l7 - - 0 m n Y N N P m n O V P O N N N el 0) m 0 - CO m - 0 N A n - - O m N •- tl CO 0 N el N A 0 O Z Z m m 0 CB 0 Z s - 0 m I-0 W W O C O W 0 H CO O J 0 O O J <<<< - O 0 CC 0 m 0 J m O - - E ZW W m L O. to 0 0 0 0 0 0 0 0 01 • 0 P TOTAL CONSUMER NON -DURABLES CONSUMER DURABLES O 0 tl - 0 P 0 700 MELVILLE CORP 1,200 WHIRLPOOL CORP N p) O 0 N A 0 TOTAL CONSUMER DURABLES L Z 1 1• 1• \ U • >- 0 O N \ 0 ' b W W r L < 0 U U - 2 O Z 1 LL r I O I ' O O 1 K d 1 I W 13 I J I r < W > Y IC J < < L I- 0 0 I I- r Z W d 0 IC W 0 • to U - - I 0: LL I 0. W I 1- 10 O 0 - U I- < J L < 2 I- 0 O O ' ▪ r Z W 0 I- < 0 Z O U U Z 3 0 IL > Y 1 1 1 1 GSECW ONFBE I• 1• 1 INTERMEDIATES N N - N N O 01 4- O 000 0▪ 1 - o P 0 O 11 h O V) N N 0 N 0 - O O ▪ n CO n m N N N O N N O I` 10 - 4- b N - P P N - 01 N 0 0 N W ▪ 10 P P • N - P 500 ALUMINUM CO AMER d Z O U O J U 2 - d OL W 0 W O d O U < O 6 X d W L Z I- < < < O Z 0 U a 0 0 0 0 0 0 0 01 r ID • N P 0 0- 0 0 0 N N P q- C1 P N 0 0 0 e 0 0 0 0 0 0 10 N 10 0 10 O N N h MONN ID 0 P N N N h O P h V) '0 u P N O N N 0 0 0 O O N N- 0 0- 0 0 0 0•• N N- P N 01 10 o N O- N N N N C1 P N N N N N O N O N N N O- W 0 h CO ID • 01 0 N 0 ID P N VVNITIONVN 0 0 O• N N N N P N N N O• H N ION N O ID ID- 0 N P 0 O C! • N O- N 01 N C1 C/ N P VNO N P TOTAL INTERMEDIATES CAPITAL GOODS N b - 0 - - 0 01 0 0 0 01 N- co) C1 • Y/ N N 0 ID ID Ol P 0 N O h N P C1 L 700 BOEING CO 600 CATERPILLAR INC DEL HARRIS CORP DEL d K 0 O Id U W J Z W ▪ O W DO▪ 1 U 0 0 N 2 O J O < 002 2 2 0 O - Z W I- < I- < 0 1.- 2 2 O r o 0: Z - W O 2 r r r Z O I- 2 0 0 0 0 0 0 0 0 0 0 n P n n N • 1,200 WESTINGHOUSE ELEC CORP P Cl W (0 ID < d • 01 N N TOTAL CAPITAL GOODS L Z 10 '� \ O 7- 0 M \ 0 O r < O O O - 2 O - 2 1i. S- O C O M d I W I 7 I J ' r < W > Y C J Z r C O ' r r rCU 2 IV CC C W W 7 U e IC IL I D. W J J i r ▪ 2 0 1110- ✓ O O - O r < J W 2 < > C I- < o O I ' . v_ r z W 0 I- < < CO 2 0 0 C) C 3 0 o. > I < 1 1 1 1 GSECW ONFBE 1 N N M 0 N nn 0 0 0 P P N P O 1- V P M O N M N N 1� O 0 0 0 0 0 O N 0 0 O 0 ID H O O ID ID 0 P CO N N M M 0. 0 N 0 1i M o 0 0 M n 0 n O O - N h N NI ID N - ID 1� n M 1i 0 0 M N 0 N O 0 0 P • M N M M P - 0 P 0 Y) 0 M 0 M 0 - 0 M 0 P N N 11. N 700 AMERADA HESS CORP 1,400 DRESSER INDS INC W W z a - z < ✓ W O 0 r < W < t 0 LL C o W 0 Y J o S O I- < < Y J 2 0 C O 0 O O O • C 0 O 0 0 O 0 0 O 0 N 1\ o M TOTAL ENERGY INDUSTRIALS c) 0 L b M P 0 n N co P SO DEUTSCHE BANK A G 0 P N N N N TOTAL NISC INDUSTRIALS TRANSPORTATION 0 ID M 0 N 0 n ID 0 - 0 0 0 0 P N • P O N 0 ID 0 N 0 0 N - N P N 0 P 0 0 N N 1. M N 0 • n M N 0 z 0 Y 0 0 J 11. Z 0 0 2 W < C LL 2 - 2 I- — W O )- 0 0 0 O 0 O 0 O ID n W 0 A < 0 6 M N N TOTAL TRANSPORTATION 1 1 3 /- 0 M 0 ' ID W W I- Z < 0 O 0 Z O 4-4 Z 1 LL r O C I0 K LL I W I 2 I J Y > IC J < < E 0 - le 0 0. Z W d C I I0 W 7 0 C 0 ' I C LL 10 i s J J i Z 0 0 ' > I- c01 < J W L < F C I- < O O LL LL H 1 W 0 I- < < 0 I O C 0. > I < 1 1 1 1 GBECN ONFBE C D . 10LL 1 FINANCIAL M 0 N P 4- P 0 0 0 0 VOCIN 00100 N 0 10P N N M 0 1. N 0000 40 O N M N 4 10 0 0 0 0 1. O M N M P n 0 N N n n 0 1. T F. O N P N O 0 n 0 n n O 1. 4 N n 0 P P P N M N M 10 O 1. 0 I. M T P P P 0 M M N O F. 1,000 FEDERAL NATL MTG ASSN 1,000 FIRST OF AMER BK CORP Z 0. 0 C 0 O 0 V J 0 • d O I- J 0 O 0 O 0 M 1. • N O 10 n n 4 N P M 0 • 0 O 0 O M N 4 N .- T O n 0 0 0 N n 0 n 0 01 0 4 n n 40 0 NAINN n n 0 n I. N 0 1. T M 0 P P 4 m P 0 N M P T T N M P M O N N N N TOTAL FINANCIAL PUBLIC UTILITIES 0 P 0 I. 1. T 4 700 HOUSTON INDS INC 600 NICOR INC ESPANA 8 A 0 W 0 0 00 < 0 - D 7 0 0 W W < J W W W F F 0 0 0 0 0 0 0 T 00 M P N 40 T n 1 co T TOTAL PUBLIC UTILITIES P If/ 1. el 0 W 0 1. 4 < M A 0. n n 01 I7 M N 1. N 0 N T O O n T P P T P P O M 0 T 0 P N 01 01 M P 1. 0 coM TOTAL EQUITIES 2,2 TOTAL INVESTMENTS ACCRUED INTEREST ACCRUED DIVIDENDS NM CAPITAL MGMT,INC. 1 1 6/30/91 3-I 0 W W F L s 0 L) 0 0 2 LL I- 0 O K N d I W I 3 1 J W > Y K J L I- K 0 ' F F 11 W W 6 ZK CIC 1.1 W 3 LI d' 0 I1 - C ▪ 1 0 Idit J J 1 1- 2 n I> v 0 0 F W L ▪ < N CCI - .0 t 0 O O 1 W W • n I o CC d > 1 < 1 1 1 1 GSECN ONFBE rc d atd 1'3 1 • 1 n n to 1\ in ea N 2,267,307 100.0 TOTAL VALUE 0 W e t d NM CAPITAL MGMT,INC.