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New Braunfels Herald-Zeitung (Newspaper) - December 29, 1987, New Braunfels, Texas Crossword New Texas December 3 Social Security benefits increase ACROSS 1 Bunker 5 Qo hungry 9 Resin 14 Impetuous 15 Consumer 16 Anoint 17 Toward 18 Ibsen woman 19 Old tongue 20 Sparse 22 Survivors of the semis 24 Trios 26 Noted Canadian doctor 27 Grouch 29 Fattened 30 Conveyance 33 Calamitous 37 City ol Italia 38 Roman udge 39 Commuter RRs 40 Hills 4 1 Thugs gal 42 day agenda 44 BPOE member 45 Equality 46 Team 47 Laughs 49 Puckered 53 Unanswerable 57 Rhubarb 58 Abandon 59 PoMer 61 Speech part 62 Byways 63 Unused 64 Cipher 65 Opening 66 olf peeved 67 Fencing art DOWN PREVIOUS PUZZLE SOLVED 1 Reliance 2 Dude resort 3 Is Born 4 Message 5 Amusement 6 now today 7 comic sad and unny 8 Permeates 9 Hailed 10 Walking 11 Caresses 12 Landed 13 Camera part 21 To the point 23 Stouts 25 Incubated 28 Harris character 30 Tarill 31 Asian maid 32 Lowdown 33 township 34 Beloved one 35 Rich labnc 36 Lifelong 37 Source ot 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Southern Co SwslAlrl SwUBells SunComp TNPEnf Tandy Templlflld 24 IS 26 v 11 35 26 25 77 30 3 21 29 63 44 24 4 24 WASHINGTON AP Social Security payroll deductions go up this as do benefit in a little New Years gift from the The increase will boost the tax rate to percent from It means employees will pay an extra S36 to Social Security from each they A worker who paid in payroll taxes on in wages in 1987 will have to pay in payroll taxes on the same amount of earnings In 1988 a 5 percent Employers must pay the Happy New Social Securi ty Commissioner Dorcas Hardy said jokingly about the impending tax increase In a recent The bite is even steeper for the self who will pay percent next up from a percent rate in The selfemployed pay the combin ed employeeemployer lax minus a 2 percent credit that will disappear after Workers also will pay the tax on in come up to the cutoff in 1987 was While the 126 million workers covered by the program will have to dig a little deeper in the systems 38 million beneficiaries will find a percent costofliving in crease in their monthly checks this The payroll tax was 1 percent on in come up to when Social Securi ty started in It stayed that way until 1950 and has risen every few years since The tax pays for not only Social Security retirement but sur vivors and disability coverage as well as most of It was percent on income up to in and percent on in 1966 when Medicare was ad The wage base the amount sub ject to the tax also has gone up every year since After staying at percent through the rate will climb to percent in Congress voted in 1977 during an earlier pension crisis to raise the tax to percent in no tax increase was scheduled for but the lawmakers changed that in 1983 when they bailed the system out of a recurrent fiscal Social Securitys trust funds have experienced robust growth since The old age and disability pro grams now have billion in reserve and Hardy says they will grow by billion in But in a program that pays out well over billion a year in that is still a cushion of only a few Social Securitys longrange plan is to build up a trillion reserve by 2020 the equivalent then of more than five years benefits and then draw it down to help pay for the baby boomers retirement The trust funds will be depleted by the middle of the 2lst Dollar falls against pushing interest rates Dow Jones a verage down Market mixed in early trading today NKW YORK AP The slock market was mixed in early trading At 10 a the Dow Jones average of M industrials was clown points at Volume on the Big Board came to 16 7 million shares lasers outpaced gainers among New York Stock Kxchangelisted issues by more than 2 to with 724 i38 higher and 502 unchanged The eariy performance indicated that the market was stabilizing after Mondays hefty which analysts blamed on new weakness in the higher interest rates on the bond market and light holiday trading Kven the US currency con tinued edging lower in Tokyo and sending stocks sharply lower in by midday At 10 the NYSKs composite index of all its listed common stocks was down o 23 at 13727 At the American Stock the market value index stood at 255 down 111 NEW YORK AP The dollar fell slightly against the yen today amid reports of intervention by Japans central but showed signs of stabilizing after record plunges that chilled a 3weekold stock market ral The dollars nosedive Monday against Japanese and major Western European currencies pushed interest rates up and the Dow Jones average of 30 industrial stocks down points to Its biggest drop since Currency traders ignored a state ment by the Reagan which said further declines in the dollar would be counterproduc In Tokyo the dollar closed at slightly lower than Mon days close of yen but up from its opening of The Bank of Japan would not of ficially comment on its involvement in the currency but it was said to have bought a small amount o according to Japanese banking sources speaking on condi tion of anonymity In light trading the dollar sank to 40year lows against the West German Swiss franc and Dutch and fiveto sixyear lows against the British French franc and Italian The dollar slumped about 17 per cent against the mark and drop ping to yen and 1 598 marks by late afternoon in Nesv from yen late last Friday and 1 625 marks late Thursday The yield on the Treasurys key 30 year bond jumped to 8 98 percent by late Monday afternoon from 8 92 per cent the last day of trading before Christmas That helped dampen a rally in stocks that had seen the Dow tack on nearly 233 or 13 in the previous three weeks the dollar has fallen only about percent since its lit8S peak in real after adjusting for infla according to a Manufacturers Hanover Trust index that measures the dollar against the cur rencies of the United States 18 largest trade Many traders are convinced the leading industrialized nations have not taken the steps necessary to stabilize currency Thereis a growing conviction among traders that the Group of Seven industrial democracies merely papered over fundamental disagreements on policy last week when the group said the dollar had fallen far Traders believe the United States has not cut its federal budget deficit and Japan and West Ger many have not stimulated their economies enough to support the The other Group of Seven members are Italy and The standoff has left the Federal Reserve It needs to keep credit loose enough to stave off a but has to tighten credit enough to keep interest rates at tractive to foreign The Feds in trouble if it does or if it does said Charles an analyst for PrudentialBache Securities in Washington I wouldnt want to be in Chairman Alam Greenspans A cheaper dollar helps trim the trade deficit by making Americanmade goods more com petitively priced But it also threatens to push up inflation at home and depress foreign economies that depend on exports to the Mondays decline came despite dollar purchases by several major foreign central said Elizabeth a vice president at Mer rill Lynch Capital Right now the White House and the Fed are really just concerned that the dollar doesnt go into a free she Group tp begin training for income tax counselors New Braunfels American Association of Retired Persons TaxAide Group will begin train ing counselors 11 for the 1988 Free help for preparing incometax returns is given to senior low income and handicapped A total of 24 hours training will be given at Dittlinger Memorial 373 Six four hour sessions will be given at 1 on Wednesdays and Fridays for the two weeks starting Yale Robert Tom Yvonne Smith and Frank Streightoff will be Those persons completing the course will join the more than counselors in the nation wide program of the in cooperation with the Internal Revenue Persons wanting to participate should telephone Kalmans at 625 Miller at 6290571 or Streightoff at Last the program helped more than 2 million individuals in the United The Tax Reform Act of 1986 substantially increased the personal exemp tions and standard It also reduced twoearner longterm capital interest and miscellaneous Making out a return for a child who can be claimed as a dependent on a parents return has also been vastly While some persons who filed tax returns for 1986 income need not file for it is anticipated that those seeking help will not be substantially reduced because of the uncertainity about the income tax Teenager named to faces lawsuit for rally debts Home sales decline WASHINGTON iAP Sales of existing homes fell percent in the biggest drop in five as the collapse in stock prices m October apparently dampened homebuying a real estate trade group said Mon day The National Association of Realtors said its monthly survey lound that existing singlefamily homes were sold at a seasonally ad justed annual rate of million units last month after increases of 35 percent in October and 12 percent in September It was the biggest monthly decline in sales since a 7 2 percent drop in The price of existing homes declin ed as dropping Stkw to a nation wide average of in That price was still 47 percent higher than a year ago Analysis biamed the setback in sales on both higher mortgage rates and jitters over the record drop in slock prices on Oct iy The Federal Home ixian Mortgage Corp said that fixedrate mortgages averaged 1069 percent lasl up from percent on John chief economist of the said he expected fur ther declines in home sales in the months AUSTIN AP A teenager fac ing legal problems because of debts run up by a Texas antidrug crusade he heads was appointed Monday to the White House Conference For a Drug Free Bobby of Round is one of the youngest people to receive a presidential A founder of the Texas Just Say No he was named in a lawsuit filed last Heards legal problems stem from several thousands dollars in debts in curred when he was organized and conducted a national Just Say No campaign rally in Austin in September The antidrug cam paigns national spokeswoman is first lady Nancy a sophomore at the Univer sity of Texas at has said the situation is a All I was trying to do was help little kids say no to he told the Austin AmericanStatesman last Calls by The Associated Press to Heard in Austin were not answered this Zeta owner of Z III Pro sued the national Just Say No Foundation last December and named Heard in the lawsuit because he is the groups Angelich said Heard hired her to organize the anti drug but she said he has failed to pay her for her Hubert Gill of Angelichs said Monday he will ask for a court date in the case because Heard has failed to make full pay There have been some payments to so we have just let it drag But there are still payments he Angelich is owed an estimated to Gill Austin attorney Rusty Busby is seeking more than he claims Heard owes Joyce who handl ed public relations for the antidrug We demanded payment on it back in Busby He kept pro mising to pay but never Heard also is a member of the Statewide Advisory Council of the Texas Commission on Alcohol and Drug Fire at missile plant kills four TAX DEFERRED INTEREST up to Before you buy another Certificate of discover the advantages of a TaxDeferred Annuity ALSO MAKES A GREAT IRA FOR A FREE INFORMATION PACKET TEXAS EQUITY RESOURCES HENRY GOEKEN 7400 BLANCO HO SUITE 111 SAN ANTONIO TX 782164361 18k 47a4 474 474 33 334 33 i 25 244 25 22V 13H 134 13 334 52H 184 18 18 334 334 STw A Twaco 404 39 394 37 214 214 214 BR1GHAM Utah tAP Fire broke out today at a Morton Thiokol building where work on a stage of the MX missile is and four workers were company of ficials said Rocky spokesman for the said the fire broke out at at the plant 25 miles west of The blaze erupted during removal of casting equipment from a loaded firststage he Raab said four workers were killed and one in and the building was The fire was put out shortly after said Tom vice presi dent of corprorate development and strategic planning at company head quarters in Its not something thats threaten ing the entire he Russell said the fire was in a strategic area three to four miles west of the plant administration The companys Wasatch Opera tions were on a limitedstaffing holi day work so there were very few people in that area at the time of the Russell A spokeswoman at Brigham City Community Hospital said a man was taken there from Morton Thiokol and later flown to the University of Utahs Intermountain Burn Center in Salt Lake Morton which manufac tures the space shuttle also produces rocket engines at its Wasatch Nuclear warheads for the dubbed the Peacekeeper by the Reagan ad are produced The Air Force announced In July it had decided to withhold 10 percent of monthly contract payments to Mor ton Thiokol Inc tJ Sunday Thursday and Fnduy ajtvrntwni by AVu Braunfels Herald 70 Landa or Drawer 31 AYu Texas Second Class postage paid bv u Braunlt Is tit raldZtitung at AVu DAVID KRAMER Kditor and Publisher UAXDA LASATER Acting Managing Editor DEBORAH LA Office SAND1H UTTER Retail Advertising Manager CHERYL DuVALL Classified Manager CAROL A VERY Circulation Manager MAGGIE LOMBARDO Composition Foreman GUSELBEL Pressroom Foreman Carrier delivery in Blanco and Kendall counties three sur one Senior Citizens Discount learner delivery six one Mail delivery outside Comal in Texas three six one Mail outside Texas six one If you have not received your newspaper by Tuesday through or by call or 6581900 by and 11 Postmaster Send address changes to Drawer Aeu1 Texas Government Guaranteed Bonds Guaranteed as lo principal Insured Certificates 01 Deposit SS OOOSIOOOOO Insured Federal Income Taifree Municipal Bonds inletesi may te subtecuo state or Ibcai AM KEOGH Rotirtmem iawo on Bonds Federal regulations require a substantial interest penalty for early BONPSMUTUAL INSURANCE ANNUNITIfS Stm Cunningham 1009 Walnut Sultt F New 7HIO S3 Ed ward U Jones
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