SECURITIES

Ownership of Muni Bonds Grew in 1994: Internal Revenue Service data show that the number of filers receiving tax-exempt interest from municipal bonds grew to 5.1 million, or 8.4%, over the previous year, according to the Public Securities Assn., a bond market trade group. Individuals received a total of $48.5 billion in tax-exempt interest that year, a 4.4% jump over what they got in 1993. Municipal bonds are used to finance local roads, schools and other projects. Investment firms now offer a variety of mutual funds that invest in munis. The group reported that the total number of individual taxpayer returns reporting tax-exempt interest from the bonds has risen each year since 1987. About 65.5% of muni holders have taxable incomes of less than $75,000, the association said.