Sunday, July 21, 1985

New Braunfels Herald Zeitung

Location: New Braunfels, Texas

Page: 6

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Text Content of Page 6 of New Braunfels Herald Zeitung on Sunday, July 21, 1985

New Braunfels Herald-Zeitung (Newspaper) - July 21, 1985, New Braunfels, Texas Producer Price Index Bu si ness July 6A City sees sales tax increase The citys tax payment for sales made in May was higher than the one for May payments to date this year total about higher than last State Comptroller Bob Bullock Thursday sent checks totaling million in local sales tax payments to the cities that levy the one percent city July checks represent taxes collected on sales made in May and reported to the Comptroller by June New Braunfels collected in Last the city received The city has raised almost a million dollars so far this Last year at this it had raised Garden Ridge is receiving a check for So far this that city has raised Seguins May payment dropped from the same period in 1984 the city collected this compared to last payments to date are up over last years with collected so far and collected last Schertz collected in May 1985 and in May 1984 while Marion collected in May 1985 and in May The city of Cibilo raised in May which was down from the previous years collection of That citys yeartodate total also dropped from in 1984 to in San Marcos garnered in compared to last years total of the yeartodate total is Last years was Western provides center funds Western Mortgage Cor poration of New has announced the closing of a million package of interim con struction and long term financing for Westcom Development Corporation of The funds will be used to construct i first class office retail shopping center known as Three totalling square The center will be located at West Anderson Lane in Glen President of Western Mortgage a New Braunfels states that his company has now closed a total of million of interim construction and long term loans in Texas during the first six months of Inter first reports 20 percent gain DALLAS Interfirst today reported that net income for the second quarter of 1985 was 20 percent higher than in the corresponding period last The company said it earned million 24 cents per fully diluted share in the quarter ended June This compares to net income of Financial focus disadvantages of stock Every coin has two so lets discuss some of the disadvantages of preferred Generally preferred stocks pay a fixed Unless there is some written provision to the a preferred stock will pay that amount and no more per year per With a common stock there is no set It can DERYL ZEITUNG Grand opening John and Gerri owners of Advanced are shown with John president of the New Braunfels Chamber of during recent grand opening ceremonies for the new or disappear as the financial status of the company Careful study shows that many blue chip companies have a long history of increasing dividends on their common If good fortune an investment has the possibility of more income in the This is not the case with preferred Preferred stock promises a set and thats all it Another disadvantage of preferred stock is that at the discretion of the directors preferred dividends may not be no matter how we dress preferred stocks are still and thus represent With fortunes rise or fall depending on how well or poorly the company With a bond or debenture which represents a debt of the company the interest payment must be Common stockholders have the right to vote on company and votes on matters are usually taken at the annual stockholders A common stockholder may cast his vote in person or by A proxy is a power of attorney that appoints an agent to vote for the There is one vote for each There is one vote for each share Preferred stocksholders have no voting This may be of little but it is a restrictive feature about which the preferred stockholder should I have never found my limited votes to make an appreciable dif ference of the in the book a Guide to Profitable In the author advises us to avoid equity investments with no voting Investment Term Voting Right The stockholders right vote in the affairs of his or her Preferred stockholders usually have the right to vote when preferred dividends are in default for a specified The right to vote may be delegated by the stockholder to another Jack Daniels Liquors Kroger Shopping Center Good thru fDaviess County Bourbon fjim Beam Bourbon j Johnnie Walker Red Scotch I Fleischmans Regal Vodka Rikaloff Vodka Canadian Club 750 Canadian J Passport Scotch if Montezuma Tequila wh 80P Cutt Sark Scotch 750 5 750 Ml Cutty Bacardi Rum Silver Ruinite Wines Semi Dry White Red million 20 cents per fully diluted share in the second quarter of the last year and million 23 cents per fully diluted share in first quarter For the six months ended June the Dallasbased bank holding company reported consolidated net income of million 47 cents per fully diluted share compared to million 34 cents per fully diluted share in the comparable 1984 Interfirst has 68 members throughout Its common stock i IFC is listed on the New York Stock Up with the new LESLIE KRIEWALDT HERALD ZEITUNG Kurt Shellenberg with Lighting climbs a crane to replace the old Holiday Inn sign in Now According to Betty New Braunfels City Council the new sign was simple and tasteful and I hope others will follow their exceptional Company officials said that signs on Holiday Inns across the nation are being CONSOLIDATED REPORT OF CONDITION Including Domestic and Foreign Subsidiaries Dollar Amounts in New Braunfels Box 961 New Texas Braunfels Carnal Of BUSINESS DAIE If 1 Dollar Amcmn m a t b 2 3 4 a 4 b 4 c 40 5 6 7 8 9 10 13b 14 15 16 17 18 19 20 21 22 23 24 25 28 29 ASSETS 1 Cash and balances due from depository institutions a Nomnteresibearmg balances and currency and coin b Interestbearing balances 2 Securities 3 Federal funds sold and securities purchased under agreements to resell in oil ices of the bank and of its Edge and Agreement and in IBFs 4 Loans and lease financing Loans and net of unearned income LESS Allowance for loan and lease losses Allocated transfer risk reserve Loans and net of unearned and reserve item 4 a minus 4 b and 4 c Assets held in trading accounts Premises and fixed assets including capitalized leases Other real estate owned 1 Investments in unconsolidated subsidiaries and associated companies Customers liability to this bank on acceptances outstanding Intangible assets N Other assets Total assets sum of items 1 throuoh 11 LIABILITIES Deposits In domestic offices 1 Noninterestbearing jj 2 Interestbearing 51 In foreign Edge and Agreement and 1 Noninterestbearing 2 Interestbearing N 14 Federal funds purchased and securities sold under agreements to repurchase in domestic offices of the bank and of Us Edge and Agreement subsidiaries and in IBFs Demand notes issued to the Treasury Other borrowed money Mortgage indebtedness and obligations under capitalized leases Banks liability on acceptances executed and outstanding Notes and debentures subordinated to deposits Other liabilities Total liabilities sum of items 13 through 20 Limitedlife preferred stock EQUITY CAPITAL Perpetual preferred stock Common stock Surplus Undivided profits and capital reserves Cumulative foreign currency translation Total equity capital sum of items 23 through 27 Total limitedlife preferred and equity capital sum of items 22 and NOTE This repon must be signed by an auihomed and allesled by not less than lives dnecluis uihei than Hie signing the the undersigned do hereby declare that this Report ol Condition has been prepared in conformance with official insUuctions and is true of my knowledge and SiGWrjKE OF TO SIGN REPORT DATE SIGNED July NAME AND TITLE OF TO SIGN REPORT AREA CODE PHONE NO Daniel Dietert Executive Vice President Cashier the undersigned attest the correctness of this Report of Condition and declare that n has been examined by us and to the best of our knowledge and belief has been prepared in conformance with official instructions and is true and flTGHATUBrtlt DIRECTOR SXJMATURE OF Of6UnECTOH staieoi coumyot Canal MAKE MARK FOR Sworn lo and subscribed Before me 10th Ujy ul July 85 and 1 hereby certify trial 1 am nut an ollicei 01 duectot ol this bank MY etptres November 85 Noiaiy Public