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New Braunfels Herald-Zeitung (Newspaper) - May 1, 1983, New Braunfels, Texas Stock market rally worries investors NEW YORK IAP The stock markets rally continues to set but it is now 9 months old and the talk on Wall Street centers on when the inevitable pullback will It might seem strange that as key stock measures keep hitting new everyone is thinking about a broad or But as Greg director of research at Prudential Bache Securities points Most investors nevertheless feel uncomfortable with a market that has risen so far so Indeed it The Dow Jones average of by climbing points last week to a record has soared since it hit a twoyear low at 1982 a 58 percent The New York Stock Exchange rose points over the week to and the American Stock Exchange market value index was up points to Both are record Big Board volume average million shares a day against million the previous While talk of a correction has been around since it intensifies as the market climbs to unprecedented But for the many analysts say the market should reach higher ground before bumping into a broad A large correction will be out a ways it could be several weeks away or even says Charles a technical analyst for MKI Securities in New We believe the market has farther to go on the upside prior to becoming vulnerable to a greater adds Robert Nurock of Investors Analysis in The rally began last summer when interest rates Rates have stabilized somewhat but the rally was carried along by the unfolding economic recovery and continued low levels of As stock prices continued the rally fed on it As more money poured into the higher the rally triggering an additional influx of Analysts that there was a substantial amount of money available for the stock market and still Money that was invested in moneymarket mutual bonds and in precious metals such as gold have been withdrawn and used to buy the moderate inflation and the recent recession which spurred many Americans to pay off existing bills without adding little If any new debt has lifted con sumersnet As there will be periods where jittery investors take profits and get out of certain causing prices to temporarily The Dow and other blue chips often are the first to But Jensen notes so far in this the market overall often stays ahead even when the more publicized Dow loses Thats a positive sign for a continuing he Business HvraldZeitung May 1983 6A Royal opening Pearl Carbon prepares to cut the ribbon is her husUind I held this weei Courtyard Shopping Centef The Carbons owned looks on Mr Lawrences Antiques opening own time deal in fumpean imported Business mirror Small investors making comeback By JOHN CUNNIFF Businuss Analyst YORK i Ali Tinsmall investor is back in the market these and that the professionals that you can expect the rise in prices to if only temporarily The American Association of Individuals In a nonprofit group based in Chicago that seeks to aid individuals through education and Tinassociation sent questionnaires to of its members recently and concluded from the first responses that 71 percent believe the individual investor can outperform tin professional investment of does not imply that they can outperform the but they at least think they the rather conservative association an underlinim think Fiftytwo percent of the respondents said they had earned excess rates of return on their in the association without explaining what excess meant And mil percent felt their performance As mom1 speaks louder than and while the association didnt how Imw much their members made on their investments it did release their overall earnings The average was in the to it Compare that with an average family income of about or and the of the typical mutual fund as revealed in an industry But no matter how the individual investor stereotypes the pro or the pro the individual in this has been a prells good halfyear for investors in In the six months ended March the New York Stock Kxehangf Composite Index rose bul at leasl 205 mutual funds beat that some by rather impressive Fidelity Select Portfolios Technology Shares rose percent to lead the hsl of 534 funds surveyed by the Wiesenberger Service And First Investors Discovery Fund jumped Not bad by any means or measure While percent of the funds in the Wiesenberger list outpaced the slock exchanges composite the rest did not The average gam of the 534 funds was only and many funds scored in the single numbers Linda Dorrance named to national committee Financial focus Bank news Free resigns NB Savings Gerald president of New Braunfels Savings and has handed in his resignation and plans to become president of similar in stitution in Until his successor is Free plans to remain in New Braunfels and will assist in the selection process of the new Free has served in that capacity since Once his sucessor is chosen Free plans to go to Tyler to become president of that towns First Federal Savings and with assets of over This association New Braunfels Savings and Loan has grown so fast and is on the verge of even greater said I believed in 1975 when I came to New Braunfels that my career had made a great but the new opportunity in Tyler is a challenge I had to Ben chairman of the board of NB expressed the boards deep regret at Frees departure Hes put a lot into New Braunfels Savings and Ixjan and into the We hate to see him go but understand the opportunity he has in Since Free has been with the local savings New Braunfels Savings and Irans assets have grown from just over million in 1975 to The institution itself has more than doubled in size since Free has been active in civic af including his service as past president of a member of citys planning and zoning com the American Red Community Actors Theatre group and trustee and former board chairman of the First United Methodist Church of New Texas Commerce growing Texas Commerce Banchares extended its 15year record earnings and asset growth that ranks it as the nations fastestgrowing large banking according to that companys annual The firm which is the parent organization of Texas Commerce BankNew Braunfels reported net income for 1982 of On a per share 1982 net income was an increase of 20 percent over the earned in In every quarter for the past 57 earnings per share have increased from the corresponding quarter of the previous a record exceeded by only six of the companies listed on the New York Stock Ben said in his stockholder Robert Bennetts Business Day column in the New York Times recently set Texas Commerce Bnncshares as the 19th largest banking organization in the after a 26 percent growth in 1982 increased its total assets to Total loans at the end of the year were billion after an average growth of 28 percent in As of Texas Com merce was made up of 58 member banks with In Central the company is represented by two banks in one in San Antonio and one in New As of the local branch of Texas Commerce Ivid total assets of total deposits of million and total loans of Victoria dividends declared The board of directors of Victoria has authorized i regular quarterly cash dividend of 25 cents per share for the second Victoria Bankshares is the parent company of New Braunfels National Bank and 15 other financial service companies and Mergers are pending with seven other financial The dividend will IKpaid June 24 to shareholders of record as of June This will be Victorias 37th consecutive quarterly cash Hie million dollar bank holding company initiated a dividend reinvestment program in March just prior to the payment of ihe first quarter cash Response been well beyond the most optimistic said More than 15 percent of the ap proximately representing more than 40 percent of total have elected to par ticipate in the which he said is a very positive step to continue the strong capital position of the cor Victoria stock symbol npears in the National list of the Nationwide Network of the National Association of Securities Dealers Automated Publications list the slock in the National Over the Counter section under the symbol Fund managing methods DietCenter ownercounselor R recently at tended a fourday spring coun selortraining seminar conducted in Philadelphia by Diet Center At this seminar which featured leading exports from the fields weight com munications and nutrition Dorrance was named to the national advisory board for Diet Center Keynote Cortez editor and publisher of Nutimw Today and current president of Nutrition Today discussed many aspects of nutrition as it relates to Ty a nationally renowned speaker also Diet Center Foundation Sybil Ferguson and several executives from the Diet Center In ternational addresssed the audience of participants from throughout the and Canada Ferguson has written a book about her program and is touring the country promoting the Although she herself cannot x a video cassette showing of Ferguson will le played May 7th from y30 am to I p in at Krauses tntrtiirtiifut Magazine has rated the Diet Center program as the lop program for weight loss for fitness frnachises or the third consecutive It is also listed sixth in the top 500 franchise By STAN CUNNINGHAM Edward D Jonus and Co Many investors who gear their approach toward the long term consider professional management of their Basically there are two ways we can have our funds professionally One is private professional management and the other is public professional Through private management an investor places his investment funds with an investment advisory or advisory Some services will accept an account as small as but generally the top firms will look at and above Most of the major services do not accept smaller individual you want and qualify for private professional management it is essential to make an indepth study of the investment team you choose to manage your To place ones assets in the hands of a stranger to managed at his discretion without a com plete study of the firms past time in is the quickest way I know to permanently separate the investor from his investment funds Some are mesmerized by the term private investment Practically speaking you can see how accounts an advisory will have to handle in order to make his time if the accounts averaged only to in net In such accounts of like investment objective are managed When an investment position is decided it will be executed in all the accounts having this same Investment Term of the Week Maturity The date on which a loan or a bond or debenture comes due and Is to be paid International office formed by WestPoint To improve and expand the companys position in markets outside the United WestPoint Pepperell has established an international The division will be located at corporate headquarters in WestPoint and will be operational by May said chair man and chief executive In order to continue to be successful we must become more international in We must be willing and able to buy and sell not necessarily manufacture wherever the op portunity presents The international division will be responsible for expanding our existing import and export businesses supervising our present and future investments abroad and for seeking and developing opportunities around the world for new investments and for licensing our technology and he Richard vice secretary and general has been named president of the Monk joined the company 17 years
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