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From: ganns@hound.UUCP (R.GANNS)
Newsgroups: net.invest
Subject: re a penny saved
Message-ID: <1401@hound.UUCP>
Date: Thu, 10-Oct-85 08:22:48 EDT
Article-I.D.: hound.1401
Posted: Thu Oct 10 08:22:48 1985
Date-Received: Sat, 12-Oct-85 17:39:28 EDT
Organization: AT&T Bell Labs, Holmdel NJ
Lines: 28

Dreyfus has a whole family of funds that you can get into for 2,500 $ to
start, then make contributions in 100$ (min) increments; tax exempt bond
funds include: (these are all federal income tax-exempt)
               1. regular tax exempt bond fund, currently yielding 
                  about 9 %
               2. intermediate tax exempt bond fund, which invests in
                  shorter term bonds than #1 above, currently yielding
                  somewhat over 8 %
               3. California tax exempt bond fund--is exempt from
                  Cal. state income tax as well as federal;
               4. New York tax exempt bond fund -- similar to #3
A nice feature of Dreyfus funds is that you can move money around
from one fund to the next by just making a phone call to an 800 number;
just be sure that you stipulate that you want this capability when
you first open an account; if you don't, it's a big pain to change it
(you then have to get a signature guarantee from a commercial bank
which has a NY correspondent).

Once the account is open (initial 2500$), there is no subsequent
minimum balance; also, Dreyfus Liquid Assets is one of the better
yielding money market funds. Dreyfus has several toll free numbers
you can call for help, to move money among funds, and a recorded
message stating current yields and prices per share for the funds,
so you can track them all quite easily. The people who answer the
phones are very helpful and courteous. 

Try calling 1-800-223-9846 for yield info and 1-800-645-6561 to get
prospectus info.