Thursday, July 25, 1985

New Braunfels Herald Zeitung

Location: New Braunfels, Texas

Page: 3

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Text Content of Page 3 of New Braunfels Herald Zeitung on Thursday, July 25, 1985

New Braunfels Herald-Zeitung (Newspaper) - July 25, 1985, New Braunfels, Texas Bank head resigns over bad collateral New Braunf els July 3A Texas DAINGERFIELD AP Residents in this East Texas town are shocked over the resignation of a bank who bank officials said kept thousands of dollars in counterfeit money as collateral on John Scott president of the Dainger field National quit a week said Buck majority stockholder and board Were in a state of He was a local sports figure in high he has always done real hes widely respected in this Dainger field Mayor Jerry Grainger told The Dallas Morning We have all watched him grow Before working for the largest local Scott had been president of the Daingerfield Chamber of I dont believe it I love Johnny Mariann office manager of the chamber of Ive worked with him for four and Johnny is I just dont believe Scott had been bank president for the past 18 and he had worked at the bank for about eight I handpicked him to be Florence Johnny Scott was part of my most inner The bank executive Florence discovered considerable inconsistencies with two loans involving a mother and whom he declined to Scott had made taking bogus money as Florence Scott told Florence the loans were covered with but the money turned out to be Florence He did not say how much coun terfeit money was but The News reported it was The loans were made over the past 11 the last on July The situation came to light last Florence According to he confronted Scott when the bank president returned from a and Scott told him he had a large mount of cash he was holding as Florence said he knew the money was coun terfeit when he touched the I reached down and touched and I instantly knew it was It felt sort of like a sheet of paper that youd run through a copy said Using cash as collateral is not a customary banking he The bank may recoup a and he said he expects remaining losses to be covered by Customers have been curious about Scotts but weve had no significant with Florence He said that a check of the vault revealed no other counterfeit funds and there was no in dication whatever that anybody else in the bank is a party to Scott could not be reached for comment by the Associated Press on The Secret Service is investigating the couterf eit money The News Local law enforcement officicals are mystified about where Scott got the bogus There is a lot to this story that remains to be said Morris County Sheriff Joe Assistant Attorney Jay Angelo of Tyler said his office was investigating the matter but he declined any further comment on the Mom Pop Domestic car sales 275 In millions of JanuafyJune GM Ford Chrysler Honda Chicago Tribune Graphic Source Industry sates statistics AMC Spring likely Saturn site GRAND PRAIRIE AP Police early today searched for a motive in the stabbing deaths of an elderly operator of a small grocery and his whose bodies were found in the store Wednesday George about and his about were found stabbed repeatedly in the back after police were notified of the slayings shortly after 8 at Grants Grocery police spokesman Gaylord Hayes A teenage girl discovered the mothers body in the living quarters of the store Wednesday and the mans body was found The Grant family had operated the store for at least 30 Hayes said officers had not determined if the store was robbed late Wednesday A small amount of change was found in the stores cash We dont know what the motive whether it was a robbery or it was just a Hayes He said small amounts of money usually were kept at the Grant was last seen after 5 and police believed that both she and her son had been dead about two hours before they were Hayes Roy pastor for the Freetown Road Church of said the Grants normally would attend worship services on Wed nesday But he said Grants health problems oc casionally kept her from attending Holland said Grant had to use a walker as a result of a stroke she had Neighbors said the Grants often extended credit to residents of the low income neighborhood where the store is They would have done anything Weather West Texas Partly no important temperature changes and isolated to widely scattered diternoon and evening tierstorms Lowb 60s and 70s Highs 90s except OC B Btfni1 South Te atlemoun DRAW THE WEATHER SUBMITTED BY Fifth Carl Schurz Texas Strung thunderstorms dumped over two and one lull inches at ram across pans of trie Texas South Plains early today Thunder storms continued to rumble across the northwest and western portions ot North Texas The strongest thunderstorms were detected dlung a cool Iron which stretched liom near Wichita Falls to just north ot Midland low clouds dotted the lower Rio Grande Valley and south central sections of the state tait skies were common in the east and along the coastal High clouds were visible over the remainder ol Texas A south wind ol 10 to 15 miles an hour ureeied all but the northwest where a variable wind around 10 miles an hour was Predawn temperatures ranged trom the 60s in the Panhandle to the low 80s in the deep south most readings were in the 70s At 4 am Marfa and Lubbock shared the states coolest reading ol while Corpus Christi had the highest reading at 84 The National Weather Service said scat tered thundershowers are likely across the state over west central and northeastern sections ol North over much ol West and in South Texas trom the lower Rio Valley Lows tonight should be in the 60s and Extended forecast North TexasNo tain is Highs Lows Widely scauered mainly tlemoun and therwise partly Cloudy with continued hot jx mynis Lows 70s ex cept near 80 coast Highs 90s 80s immediate coast and neai 100 Forecast TEXAS Scattered thunderstorms through Fnday Lows tonight in the 70s Highs Friday in the 90s SOUTH TEXAS Scattered afternoon and evening showers loi the lowet Rio Grande Valley northward to the Hill Country and Edwards Plateau Lows tonight in the 60s and 70s Highs Fnday in tht 80s and except lot some readings atjuve 100 in the Rio Grande plains WEST Scjleied thunderstorms decreasing Fnday Lows tonight mostly in im60s Hujhs Fnday in the 80s and 90s Bob storms South Carolina Thousands ol South Carolinians took refuge inland as Hurricane Bob surged ashore early drenching much ol the state and southeastern North Carolina with heavy rains belore it waned to tropical storm Flood watches continued across much of North Catolrna as well as across the eastern halt ol South Carolina as rainfall totals were expected to reach 4 to 8 inches across central and southeastern North Carolina and eastern South a hurricane watch was posted for the island of Hawaii as Hurricane with sustained winds up to 105 mph and gusts reaching 125 continuad to move west at about 12 mph some 500 miles east southeast of Temperatures around the nation at 2 CDT ranged from 42 degrees at to 90 degrees at and Las Brought To You MBankNew Bran ntels A Momentum Bank 96 New 78130 Member MPftGf and FDIC Crossword TV listings Ufes little pleasures for said Marie a neighbor who grew up with the Grant Police Chief Harry Crum said the store has been robbed several but there had never been any violence directed at the This was a mom and pop operation smaller than an average convenience Hayes ad ding that the store usually shut down about 5 Grant had a practice of selling merchandise to neighborhood children who came by he Theyd usually open the door and let them get what they he There was no cause for anyone to kill somebody over food or something because they had tickets in there where people could buy on Hayes MINNEAPOLIS AP A top level meeting of United Auto Workers union leaders was to begin Friday morning in Chicago to discuss the latest preliminary labor agreement for General Motors Saturn car the unions president The call for the meeting by UAW President Owen Bieber in Minneapolis Wednesday was the first indication in several weeks that the UAW and GM could be near to agreement on a letter of intent governing work at Bieber wouldnt predict whether the unions ruling Executive Board would OK an he ex pressed confidence that it GM hassaid it would prefer to have a UAW agreement before announcing where it will put the Saturn A nationwide competition for the in cluding Minnesotas bid to lure the plant to Duluth or Cottage has gone on for seven If I was a betting I would make it the announcement after Bieber the Detroit Free quoting unnamed union reported in todays editions that Spring would be the likely Saturn Im 99 and ninetenths certain of one of the sources told the which also has been mentioned as a still was in said another union source who would not comment on that areas Mitchell said Bieber didnt know what sites were under consideration for GM has maintained for the entire seven months that no states have been ruled out for the hightechnology automaking Bieber said the union has no role in determining the Saturn MENS WEAR J SUIT SALE Friday Saturday Only One Group SHORTSREGULARSLONGS POLYESTERS WOOL BLENDS Sizes 36 to 48 Price FREE ALTERATIONS Slack Sale Friday and Saturday Only 100 Polyesters One Group Wool Blends One Group Sizes 29 to 48 Regulars and Longs Dont Miss This Sale MiNS WIAR