Wednesday, November 17, 1978 5 for the de that d seek a life- n more ionally deplores and the seedoms, decide save the be only dont hel and regards se court Gilmore so are seem to the best original courage and the high both proper Good lies and cases a case the great face said, more time he the more and some it’s own that had no in-valent, even event who with the with the at least in truth does unincornishing its them see because its die and a up that is to as*10 nas to sell illegal in t it to take mises to infiltration, this term, his sight an people someone. g feeling y people. , to the vaving an e House, , 4 an ex- again acute. ur years. Staff Writer By DAVID JOHNSON Association's investments stable The ups and downs of the stock market don't seriously affect the investments of the Kansas University Endowment Association. The partnership is supported by Dick Porto, treasurer, said yesterday. "We are a conservative organization set up to benefit the University. The securities we hold have a solid record and are proven over the years." Porto said. Declines in the stock market would hurt the association only if it wanted to sell all of its shares. The Endowment Association invests almost three-fourths of its total assets in marketable securities—U.S. government obligations, municipal and corporate bonds and preferred and common stocks, according to a report published in the October edition of The Small Business magazine of the $51,110,96 in total assets last year, $37,725 was invested. About 43 per cent of the Endowment Association's assets are invested in about 350 companies throughout the United States. Last year, the association's income was $1,934,369 on stock holdings totaling $22,182,926. PORTO SAID the Endowment Association tried to invest in companies dealing with natural resources. Among the companies that the association owns stocks in are Phillips Petroleum Co., Exxon Corp., AT&T, M&T General Motors Corp., Panhandle Eastern, Christiana Securities, Kansas Oil, Continental Oil of California and Continental Oil. He said income from these investments make up about 29 per cent of the total revenue. MARTIN HENRY, vice president for property management, said yesterday that the Endowment Association held an annual fundraiser in Texas and smaller retailers in Colorado. The Endowment Association also owns 32,000 acres of farm land in 28 Kansas counties and 400 acres in Oklahoma. Of this land, more than $1 million is dedicated to Waddkins, a benefactor to the University. He said the farm property was overseen by five managers. Revenue-producing property was taxed at the regular ad valorem to the assessed value—rate, he said, and property used by the University wasn't taxed. Among the Endowment Association's holdings are also several office buildings, including the Kansas Power and Light Building, the First National Bank Building at 8th and First National Bank Building at 10th. Massachusetts streets, McCollum Laboratories, and the Breidenthal Laboratory and the Family Practice Center at the KU Medical Center. University Daily Kansan Porta said much of the association's security holdings were deeded by various The Unitrust program, for instance, allowed donors to receive 5 to 10 per cent of the income of their investment annually, helium or hydrogen donations to donate investments to the association. Results of an audit conducted by the IRS last summer haven't been received by the Endowment Association, Porto said. The association was one of several institutions audited by the IRS in an attempt to become familiar with tax-exempt institutions. Porto said the object of the Endowment Association was to invest in a variety of steady growth markets in an attempt to lose in areas with gains in others. Based on the guidelines and objectives of the investments set by the finance committee of the association, an investment advisory firm on the east coast determines the specific markets and corporations to invest in, he said. "The whole investment picture could be completely different in 20 years," he said. 100% luxurious lambswool cabled — crewneck Sweaters reg. $25 Now $1350 Another Group of lambswool crewneck Sweaters reg.$1900 Now $1290 A-smile pleated Denim Jeans reg. $1850 Now $1290 Our own Roughrider Khaki Hiking Pants reg. $1850 Now $1290 Long Sleeve Knit Shirts in solid and stripes reg. $1750 Now $12^{90} 1 large selection of 3 piece Suits in the classics, tweeds, chalk stripes & solids all this season's favorites! Values to $16500 Now $125^{00} Come by and celebrate Mister Guy's birthday and pick up on the savings just in time for the holiday season.