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New Braunfels Herald-Zeitung (Newspaper) - May 19, 1985, New Braunfels, Texas 6A New Braunfets HetaUZeliung May Sales tax check takes jump Sales made during the first quarter of the year brought in sales taxes for the city compared to the first quarter of when the citys share of the sales tax totaled Checks sent out by the state comptrollers office May 10 represent taxes collected on sales made in March and the first quarter and reported by April State Comptroller Bob Bullock this month sent checks totaling million in local tax payments to the cities that levy the 1 percent local sales The city of Garden Ridge earned during the first quarter of compared to in Seguin received a check for in in and in San Marcos earned in sales tax payments during the first Bullock reports that gross sales in Comal County in 1984 totaled Thats a 10 percent increase over the 1983 total of The highest sale quarter in 1984 was the final which when worth of goods were The lowest quarter was the first Stocks quietly heading toward record high level Briefly Reinarz life member of society llochette has qualified as a life member of the certified professional insurance agents Reinarz earned the disticntion by meeting the societys standards a high level of propertycasualty in surance sales and continued professional growth through at tainment of a recognized insurance Life membership is the highest honor accorded by the It signifies the agent has maintained the required sales level for a minimum of six who is president of Cornaltex Insurance Agency is also a member of the CPIAs parent the National Association of Professional In surance and its local af PIA of WestPoint announces vacation plans WestPoint Pepperell plants and Rochette Reinarz facilities will shut down for a vacation June 30July Employees will be informed about details of work schedules at various plants and Vacation pay to WestPoint Pepperell employees who qualify will be distributed with paychecks to be issued during the week before the shutdown Lovett gets Heritage promotion John Lovett of New Braunfels has been appointed as master dealer in Texas for Heritage Log Heritage Log Homes is based in Before his Lovett was a Heritge division dealer with River City Log Homes in New Hewill now be doing business as Heritage Log Homes of with River City Log Homes as a sub Lovett has been associated with Heritage as a division dealer for three and in that time has become one of the companys largest volume earning the master dealer Comal transactions included in report Holmes and real estate information has added Comal and Guadalupe counties to the Bexar County Metro Metro Reports offer comprehensive monthly com pilations of the San AntonioAustin Corridor commercial and residential real estate Holmes and Shaw also offer Metrobase computer software enables subscribers to information on Bexar County Information is updated and is available 16 hours a six days a Financial focus Investment yield a key barometer By STAN CUNNINGHAM Edward Jones This we begin a series on income Investment in come is of immediate interest to many who wish or need to supplement their regular With rising inflation eating into buying income usually is of prime importance to retired There are several terms those interested in income investing should dividends are paid by corporations to the owners of com mon or preferred stock only when declared by the board of Stockholders own shares of the and the dividends are their share of on the other is paid to the companys When you purchase a you dont own any of the company youre one of the It pays you interest for the use of your Yield refers to the amount of cash dividends or interest paid on a particular Its generally expressed as a percent of the securitys current market For if a stock is currently selling for a share and pays an annual dividend of per the current dividend yield is 10 If a bond has a face value of and pays interst per its current interest yield is 10 Stock prices rarely stay the For if the price of the stock in the previous example increased to a but it still earned dividends of only a the current yield would only be 5 Since you paid for the you still earn a 10 percent if you sold the stock you could receive per share which could be rein If theres an investment which returns more than a per share your currentstock is you have an opportunity to increase your NEW YORK AP Amid very little the stock market has been climbing steadily to record highs of Thats hardly news to people who follow the market But it has drawn so little attention outside Wall Street that it seems to bear The New York Stock Exchanges composite index of all the common stocks traded at the exchange has been reaching new peaks almost So has Standard Poors 500 stock composite the most common standard used by professional investors to measure their Wall Streets public relations of is that the Dow Jones average of 30 industrials still sits a bit below the record closing high of it established on March the Dow will have to surpass to put an official stamp on the markets recent economists predicted that action by the Federal Reserve Board to cut a key lending rate to the lowest level in nearly seven years will give the economy a shot in the arm and spur a stock market The central bank announced Friday that effective it was lowering its discount rate the 1 interest itcharges to lend tobanks from 8 percent to its lowest level since August The Dows problem in catching up with the other indicators is its very The list of the stocks used to calculate it is dominated by com panies in troubled sectors of the economy like basic manufacturing and At the same stock groups with little or no representation in the Dow are booming for Pharmaceuticals and food On Dow Joness average of 15 utility stocks climbed past a record high set more than two decades In the past the Dow Jones industrial average rose to The NYSEs composite index climbed to while the Amex market value index was up at Big Board volume averaged Weekly Wall Street million shares a against million the week The Federal Reserve Board action was hailed by economists who predicted it would send a variety of interest rates spur a rally in the stock market and boost a flagging Within minutes of the an two of the countrys largest 2 Citibank of New York and 3 Chase announced they were cutting their prime lending rates to 10 the lowest level for the prime in i Eighthranked Bankers Trust of New York had lowered its prime rate to 10 percent on Economist Allen Sinai of Shearson Lehman Brothers predicted all major banks would follow suit on and he and other analysts forecast that a variety of interest including mortgage would head lower in coming Michael head of Evans a Washington forecasting predicted a big rally by the stock market next week because of the Feds The government has estimated overall economic growth at an an nual rate of just percent for the first three months of this year the slowest pace since the end of the last HeraldZeitung Argentine bank freezes deposits after heavy withdrawals BUENOS Argentina AP Acting to halt a run by nervous the Central Bank on Saturday froze all dollar and other foreign currency deposits for 120 days and said it would analyze the situation at the end of that The measure affects ap proximately million in private and state but had no im mediate effect on the exchange closed for the It was the latest blow to the nations financial rocked on May 10 by the Central Banks closure of the Banco de Italia y Rio de la the fifth largest among private banks and llth among private and public The bank was closed and ordered liquidated because of what the Central Bank said was a grave situation in terms of solvency and A communique issued minutes before midnight Friday announced the freeze on It said the Central Bank noted that significant withdrawals of deposits were registered in the last few weeks which endangers the stability of any financial The Central Bank said it was freezing the deposits in defense of savers and the community in whose normal function depends on maintenance of a solid financial Central Bank President Alfredo Concepcion told reporters that within 120 days we will analyze the situation Asked whether a depositor could withdraw his dollars once the freeze Concepcion We hope if the system is The Central Bank communique said all private and state banks would be obliged to transfer their foreign currency holdings to the Central Bank on In the case of deposits which mature within the 120day savers may renew them or may exchange their funds for dollar denomination Argentine external which are payable in 1989 and earn 15 percent annual the bank The freeze affected all deposits except those held by accredited diplomatic missions and in ternational Under current banking Argentines may deposit dollars or other foreign currency in a wide variety of time I Sale Date May 1727 AII American Air Conditioning Heating Rudd Ton t Unit 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