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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Geoff who wrote (2441)	10/2/1998 1:45:00 PM
From: Diamondcutter	Respond to of 6439

Regarding domestic usage, don't be so sure the recent declining volume will continue, excluding any consumption effect from dramatically increased prices due to settlement premiums. Underage smokers are key to the trend going forward. Univ of Mich polls show that daily smokers in 12th grade have gone from 27.8% of that population in 1992 to 36.5% in 1997. Unfortunate for those people, but true. The survey shows steady yearly increases, with 17,000 surveyed so the trend should have some validity. Underage smokers account for under 5% of volumes but when they hit college and early 20s these numbers increase significantly. The smoking surveys can be found on the Center for Disease Control web site. Diamondcutter