Poughkeepsie Journal from Poughkeepsie, New York • Page 1C

Business At SundoyrMorth 13, 1977 PoupfoeepsbJoyinol 1Q i HI i I te' 1i 1. 11 li Your Money By ALEXANDER AUERBACH Los Angeles Times Writer O. I need Information about credit cardi and auto Insurance for the divorced male. After my divorce I never reported It to credit or Insurance people because I felt they would con alder divorced people "Dad risk," Is tms true? fm not talking about laws. I'm talking about what they reauyao.

You re not under any! obligation to send cut engraved announcements of your divorce but It Isn't a good idea to lie about your new status wnen iUlna out application forms and so on. Your rates for auto In surance may go up or down. depending on whether you were the sole driver before or if your policy used to cover both you and your wife. But if you describe yourself as married when you fill out an Insurance application or renewal 'form, ENi have real problems ter in the event of an accident, and" the company. will almost certainly decline to renew your coverage.

That's a hassle Credit people are not supposed to Inquire about your sex or marital status so even If the person in charge 'of credit doesn't approve of divorce, there shouldn't be anything on your' application to arouse hostility. Q. I've enjoyed your column. Can you recommend any reading that has similar down to earth explanations about the financial scene? A. Probably the best single book Is Sylvia" Porter's "The Money; Book the exhaustive ritents of which are explained its subtitle: "How to earn it, spend it, invest it, borrow It and use it to better your life." A good introduction to investing in the stock market Is.

"How. to Buy Stocks," by Louis are available in paperback. Any public library has a raft of other books; many of which are not worth shelf space, much less your time, but browse there anyway. Beware of books' that tell you how to make a fortune In boa bellies, (fold coins, real estate or yak butter; if it were that simple, those authors would be busy counting tneir minions, not pounding typewriters Merrill Lynch has good brochures on how to understand corporate financial reports, and other brokerage houses have similar stuff. "Money" magazine has useful, down to earth information.

Don't forget the financial pages of your daily newspaper. Q. your recent reply to an individual who purchased an IRA (Individual Retirement Account) from insurance you were unfair to insurance agents. No met was made of the benefits provided by insurance company contracts, such as' annuity payments, life Insurance and waiver of premium benefits forj disability, inese can oe significant when compared to "return only" plana. A.

These benefits are important to a buyer of an IRA. But the person who wrote to us was the victim of particularly poor advice. Unless he was totally disabled practically the day after starting his retirement plan, he would have been a lot better off putting his cash Into an IRA offered by a thrift. institution because he unknowingly was paying an extremely high commission rate on the Insurance company IRA. As for the annuity option that Insurance IRA plans offer, that can be arranged with a thrift account by putting the cash into an annuity at the time of retirement.

We'll stick by our original verdict: Q. My husband was drafted Into ttw French 'Army and served from 19S0 to 1191 At that time all the Allied Forces were nart of NATO. are American citizens and. since we are contemplating buying our first home, we would Uke to know If my husband would be eligible for veterans' benefits. A.

Only those who served in ithe U.S. armed forces are for home loan benefits, (according to an official of the "Veterans Administration. 'Certain other benefits, such as lhospital care, are available to Nations, peacekeeping forces in iKoreaandeuewnere. I Questions to Your Money may be submitted by writing: Your Money, care, or met Poughkeepsie Journal, P.O. Box 1231, Poughkeepsie, N.Y.

1ZHB. Civic Center Beginning To Draw People Into City ssBsw mffmammmma' vyj' ywr eiis yi ft IflllilH bbbbbbbbIbbbbbbbbbbbHbV1w. JifWwsPHEsisW nssHssHssKiBIBsHsnssSsU Jf 1 BBBBBBBBBBBBBBBBlBBnlBBBBBHBSBfBBBBBllBBsHBBBBBBBBBBBBHiifthbl Jffi 42l9r6fflSS9SK. Al iv 11 ssHsBHHItHmsisssHnslsssssssssHniktab WfflBBBWl Jstt 1 iBBHBBHMSHBlHSnBHBBBBHSVBVBBViHBBBBHiBBBBBBBBaUk: VmL "qtiBYfaHBr i r. i BsssBsHHassssssssBsSsBSBSssssBssBsssssasisu." "mvH'f iJS" Wroa sssssBBHslssssHsBsssiHsssVssssHlsltl 1 IHI XW "'f 'jsttVySl BBBBBBBnSSBBflBBBSBnBBIBBSBBBBBBBBBBBBSHSHHIiBBHiBBBBBSBBBBIlHBSBBBSBS jdsWflSW BM3 A tt MTsWussssss1Bsmij1b 4' fc ws yWfcfeW4i4r ji sHHsHBsssSsHsIsIsssVJJM sSiMsssH fiasSsSSHsLSBBsH ij ti wc 11 4 1 t.slsBsssTsssssssssssssHHHIRsnBBBIsvHBHBIIVp'sBs vWifSKIPSI NHHHD r'WWIsWssBflnfiM f7 iBy WiisiMiiiiij i iftliisiBWBWEssr' SnissM fs s.fSf iaL9HHBssl5l15sssBssssssBP', bsssssV, sllsssssssssssar My9ssssssH SssssssV WmflsfssssKT iflslssW bsssYjBiIsssss KktsssssF 't 4linwN JHH BBbWbb1bBB MiMiMBBBBBBBBlMWJ 'lffi a 'Pff1ffyr 3rlB MbbbVZsbIbbK'' jJbSbbbbbbbHBsW' jS; TSWiJwiHHHiri JM WmMI IIUOZ 'A IBllBBHBBiBBHBJPPtlWBHHB SI kWM ByslraWiHHBBBBBBBBBBBBKBlBBIBBBBBHBl The Mid Hudson Civic bring peope Into the chy Journal Photo by James Docfcner Investing High Sf a kes Game By DOUGLAS FEAYER Washington Post Writer WASHINGTON (WP) Dr.

Aniceto Gauzon, a specialist in emergency room care at Washington Hospital Center and a man regarded by his colleagues as something of a financial whiz, walked' onto a Hospital Center bathroom, threaded a telephone cord through an air vent, and hanged himself. 2nd Of 2 Articles That' unpublicized suicide happened more than two years ago. But the story of Dr. Gauzon's' death Js one of the strangest in the tale of General Financial Services (GFS), a Washington area' company whose subsidiaries specialized ln pension planning and organizing real estate partnerships. It is not known how many different ventures Gauzon was involved in.

His widow and their children have left the area and could not be located. But one of Gauzon's business was Dr. James Head, now director of the emergency department at Washington Hospital Center. At the time' of Gauzon's suicide, Drs. Head and Gauzon owned a company that was providing emergency room services on a contractual basis to, the Hospital Center, "We were having some financial An IdeaThat Didn't Work Out By the Washington Post WASHINGTON (WP) Among the ideas that did not work out for General Financial Services and its subsidiaries was a plan to make a lot.

of money by doing laboratory work for the many doctors who were GFS clients. To this end, GFS salesmen sold stock, and 8 per cent debentures (short term loans) totaling $135,000 in a firm known as Washington Labs, Ihc. The firm was to be run by Dr. John E. Stauch, a clinical pathologist Stauch also owned two small medical labs, Bloproducts, and Physicians Bioanalytical Labs, Harry Ruddy, president of GFS.

told the Securities Exchange Commission he had negotiations with Stauch over purchasing the two labs, but that a deal was never consummated. However, stock certificates for Washington Labs were printed arid billing' operations were set up at GFS headquarters. Stauch says that GFS did purchase his labs, then installed a new, fully equipped laboratory in building. A medical, equipment leasing company is suing Washington' Labs, Harry Ruddy and others for $10,000 due on a lease for lab. equipment there.

Stauch said that Ruddy put him on a $45,000 a year salary, and made Incremental payments at that level three or. tour times. "They cut it to $1 ,000 every two weeks," an annual reduction of $19,000, Stauch said. Ruddy, in an Interview with The Washington Post, refused to discuss Washington He told the SEC hadpu stock eithe that everybody who ted Washington Labs got their money back or hap been switched into other investments controlled by Stauch said that the payroll of Washington Labs was running about $13,000 a week, but that the workload wouldn't support Ruddy, Stauch said, had thought he could get many of his almost 300 doctor clients to use the lab, but only "five or. ever had a Christmas party in 1973, downtown," Stauch "and told me how great things I were going." But on Dec.

28, 1 1973. Stauch said. 1'Ruddy told me, I want you Stauch still attempts to collect old accounts due his defunct laboratories, he said. Stauch estimated his personal indebtedness at several hundred thousand dollars. 'He has long since been forced off the board of the United, Bank and Trust which he helped found.

He claims he has no assets. His large, secluded home was transferred to an irrevocable trust to his children, he said. i. "In 1971, I was a person, successful," Stauch said. "NowI couldn't afford to Join the Boy 1 trouble with', that," Dr.

Head said, "although it appeared to be taking a turn for the better." At the same time, according to several some of the Investors Dr. Gauzon had steered into various investments were' beginning to take losses; and he was hearing about It Dr. Head disccoyered the body of his business partner hanging from the telephone cord about 9 p.m. on Oct 4, 1974. "I realized that I hadn't seen him smile In three, to five months," Dr.

Head said in, an "But I hadn't been looking at my colleague in a professional way. I'll always bearthatonus." Uncounted thousands of, dollars have been lost by investors here every year, "it Is a continuing problem of major proportions," said Paul Leonard, regional administrator 'A of the U.S.'Securitles and Exchange Commission (SEC). Although the SEC and various state agencies receive dozens of phone calls and complaints from unhappy investors every day. It is with great selectivity that the government actually tires to put someone In prison for. the multitude of sins that can be committed in selling real estate partnerships.

(See Investing, page 2C) By ERIC TRILLING Journal Staff Writer It was shortly before o'clock and the line of cars was backed up along Civic Center Plaza from Main Mall to city hall. Not unusual perhaps, for morning commuter traffic, but this was Saturday night In downtown Poughkeepsie where 1,800 people gathered at the Civic Center for an evening of, rock 'n roll with Dion and Jay A the Americans. More than Just another place to hold rock roll revivals, the Civic Center was conceived to revive night life. In downtown Poughkeepsie. And after only three months of rock shows.

Jazz concerts) ballet and wrestling the center already appears to be fulfilling much of its role as the drawing card that would pull people into the city to dine, have, a few drinks and shop. are times when I Just look out the door and see a wave of people coming down the, street, reports Dan Kanej'Co Owner of the Old Coat Cabaret, a tavern with its own live entertainment only. two blocks south of the Civic Center. Depending on the event at the center, Kane said his place can get anywhere from a handful of customers to 10 times his. normal business after a show.

Because' weekend business is usually good anyway, Kane said, he. particularly appreciates the business the. center 'offers him during the weekday nights. "Anything' that brings life to the downtown area is good for us," he said. "And we In turn feel, we "are good for the downtown 'area.

We feel we provide the people who go to the Civic Center the opportunity to have a complete evening when they go out." Another nearby tavern with Its own brand of live en tertainment is the Last Chance. Saloon at 6 Crannell off the' Main Mall. "It has already kicked night life into the downtown area, area," said co owner Mike Chiriattl. After a' Sunday night concert with David Bromberg at the Civic Center, Chiriattl said the Last Chance filled up with people who unfortunately had to go home. at 1 o'clock when he had.

to close because of the County curfew on bars remaining open. "Those people were Just ready to party and we had to send them home," said Chiriattl. He said he was attempting to find a way taverns in Dutchess could remain open an extra few hours like they can in Ulster County. One place that does not draw particularly well during rock concerts is the Mill House, Restaurant.1 But according to manager Tom Haute, the restaurant "had a teriff ic night" when David Brubeck. brought his jazz to the Civic Center last month.

"When the philharmonic plays we expect we'll do very good that said Haute. He added that the Civic Center has also served to attract people into the restaurant who park drive by. it whovpreviously weren't quite sure where it was. Asked if ha was counting on the Civic Center offering a more varied. and complete.

evening. entertainment schedule. Haute "We're kind' of on that, quite, Also noting an increased dinner crowd before Civic Center performances is Peggy Lee, manager of the Canton Restaurant Just a few doors away from the Civic Center on the Main Mall, she said the dally skating program at the center's rink has also Increased pedestrian traffic on the mall. I think I for everybody," said Lee. i think a lot of people find excuses not.

to come into the city and I think this Is helping to fight that," she said. But only a few doors from the Chinese restaurant, the owner of Coppola's Restaurant reports the Civic Center hasn't done much for the Italian dinner business. never get anything over there," said Giusseppe. Coppola. In fact, Coppola complained that Civic Center patrons were filling up 'the (Sea Civic Center, page 2C) i.