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New Braunfels Herald-Zeitung (Newspaper) - June 26, 1983, New Braunfels, Texas HvraldZtltH t Juris rfA This Is what New Braunfels National Bank will look like following expansion Hendricks joins NB National Bank By JACQUELINE SMITH Staff writer Pete Hendricks had one of the shortest retirements on He lefUhc administrative offices of the New Braunfels Independent School District at noon last retiring from a 17 year career as superintendent of that school And three short hours Hendricks was in the of New Braunfels National Bank his new place of Sixtytwo yearold Hendricks has joined New Braunfels National as a marketing t according to van announcement made Friday by bank president Walker and Herbert chairman of the In his new Hendricks will be responsible for all aspects of Pete will call on existing and potential customers to enhance com according to a statement issued by Bank officials called a press conference late Friday afternoon to announce Hendricks em ployment and reveal plans for the banks expansion to four times its current See page Following this Hendricks said he was anxious to gel started with his work at New Braunfels Banking will be a new Held for the former school who had been in public education for almost 40 years when he retired Jn addition to his years of teaching and administrating in Texas Hendricks had also taught in Louisiana and Although Hendricks has been involved in education for most of his his chosen field of study in college was business and He holds a bachelor of science degree in business with a major in economics from Louisiana Tech in In he ob tained a masters degree from Texas University at once again con centrating on business and economic Hendricks first job after graduating from college during World War II was that of being n bookeeper for a grocery store in While at that officials from a school district in that area offered Hendricks a bigger annual salary if hed come to work for them as a teacher and as head coach and athletic Hendricks took the job and since that year 1943 stayed in the education Until this Pete Hendricks WestPoint recovery effects Recovery from the 198102 recession is clearly underway throughout most of the economy including at WestPoint that companys chairman While we were able to maintain earnings during the we certainly welcome the general Lanier noted in reporting his companys third quarter And thats good news for New since the which operates Mission Valley Mills and the Iselin Plant is the citys largest At this time it is most evident to us in carpet and rug Consumers are more inclined now to commit for larger ticket purchases demand for more carpet should come soon from the increase in housing starts occurring over the last six Lanier Third quarter net income of million or per share for the period ending May 28 was a new quarterly six percent more than the previous high of reached the same period of last said Sales for the quarter of million were up 11 Sales increased in all business segments but the most significant gain was in household fabric sales which reflected continued growth in bed andx bath products at good margins and a nice recovery in carpet volume and he Profits and sales of knit apparel fabrics were up sharply in the third woven apparel markets except for heavyweight denim remained generally Industrial fabric sales were up for the quarter but margins and profits were off substantially from last year Sales for the first nine months of million were up about five per cent and net income of million was 12 percent ahead of the same period of fiscal Earnings per share of compare with last Growth in sales and earnings this year is from bed and bath and knit apparel Lanier Sales of woven apparel and industrial fabrics are below last year and pfofits from these lines for the first nine months are down some improvements in prices and demand for industrial fabrics and for selected woven ap parel goods is developing which should yield better profits from these items in the fourth quarter and Into fiscal he Lanier is expecting his firms carpet profitably to improve further by the consolidation of all manufacturing in our two plants in City of carpet plant will be sold in the fourth fiscal quarter of this Even though we are facing higher raw material costs for cotton and certain synthetic fibers and we expect fourth quarter results to surpass the per share earned last It should be another record for WestPoint Lanier Banks parent firm declares dividends Texas Commerce declared its 246th consecutive quarterly dividend of 32 cents per shareUo be paid July 1 to common stockholders of record as of June This dividend was declared as a result of the companys reported earnings of million for the first quarter of On a per share earnings were up 7 percent from earned in the first quarter of As of March the 59 member banks of Texas Commerce had consolidated total assets of total deposits of billion and total loans of Texas Commerce Bank is represented in Central Texas by one bank each in New Braunfels and San Antonio and by two banks in Financial focus Taxexem pt bonds offer an alternative for investment By STAN CUNNINGHAM Edward Jones and If from our past discussion on tax exempt bonds you feel they may fit into your investment plans perhaps you may have some questions about lets try to answer in very generic terms some of the most widely discussed investment features of Municipal According to the text Fundamentals of Municipal published by the Investment Bankers Association of there are four outstanding Investment features of municipal bonds 1 The security of such bonds Is generally considered to be second only to bonds of the United Stntes 2 The marketability of such bonds assures that an investor can always sell them if he wishes to do 3 The diversity of issues and maturities enables an investor to Obtain bonds issued by an issuer located in the geographical area of his preference and maturing at the time he 4 The interest on such bonds is exempt from all present federal in come While municipal bonds are generally considered as second only to the United States government in there are variations in the security behind different municipal bonds dependent on many It is therefore prudent on the part of any investor to consult professional assistance for advice as to what municipal bonds would best suit his investment It is well worth your time to Investigate the bond prior to your Just as you and I have a likewise each bond has a complete When a bond is quoted all these factors must be noted in order for us to know exactly which bond we prefer a face amount and maturity b interest rate c and type or pur pose of Well discuss these next Music man New Braunfels has another Automotive which specializes in car sound systems and equip ment and their has opened its doors at 358 Uanda Owner Gene doing what he does prepares a radio unit for its installation into an The firm specializes in custom Business mirror The little presidentsyndrome keeps growing in government By JOHN CUNNIFF YQWC CAP They hold titles and have tittle official tfwy exercise rat power M dedicated public twvwisi sitffffwloe term ttwl veili ttwir tnie They are the little the hobgoblins of headi of state SMh as Ronald Reagen and Margaret They have a consuming desire to be in charge and subservient to including the Uttle Eugene who tow stuped in religious are attracted to power because they see it if lifes ultimate It is in government that they are most mischievous because they to formujnie sjp Michigan State University professor ot bjuJflffti sdmlniitmiw ind consultant to corporate and occasionally to heads of They assume rights that cor are limited to the and they hide behind the rffpflmJWJity to the elec but in not accountable ta the in presidential cabinets and i where are found on congrewional they may to dictate foreign policy bfcipe they twjieve they are more aware than the The government it time is vulnerable to littlf presidents says it is w big and gangling and over to many areas that it presents wide open op portunities Jennings the Uttle president to ratlwr common human especially YHtoffiWf to the within mm SSUSy chid executives official
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