Page 4 of 13 Aug 1980 Issue of Brownsville Herald in Brownsville, Texas

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Brownsville Herald (Newspaper) - August 13, 1980, Brownsville, Texas Page 4a�?the Brownsville Herald wednesday August 13, 1980 american banking account changing fast editor s note this is the first of a three part series on the banking squeeze. By Louise Cook associated press writer the american Bank account is changing fast it costs More. It can do More and it is getting More complicated every Day. You can also look toward to the spread of interest bearing checking and of automation to Telephone Bill paying and debit cards. Higher prices. It s the Only sure thing a said William d Plechaty. Senior vice president for personal banking services at Continental Illinois National Bank amp Trust co. In Chicago when asked what was ahead for the depositor the changes Are due partly to legislation passed in March restrictions on interest rates and on the kinds of services that can be offered by financial institutions Are being phased banking squeeze whale Skull found Montgomery la up archaeologists have unearthed the fossilized Skull of a prehistoric whale described As a one in a billion find from its 45-million-year resting place on the Banks of the red River. Archaeologists from Louisiana state University and the army corps of engineers who discovered the remains last week said wednesday the 4-foot-Long Skull along with an intact spinal column and other Bones represented the most Complete remains Ever found of the ancient Basil saurus. A it s a one in a billion said corps archaeologist Bert Rader. A i know of no Complete Basil saurus Skull anywhere. It will give us hints of the ecology of that the Bones buried in an area to be covered with water when the corps widens and deepens the red River to accommodate barges were found by archaeologists who ordinarily investigate such areas before projects begin. Geologists believe the Gulf of Mexico was much farther North than it is now when the whale was alive at least 130 Miles farther North. A this particular whale did not die and Wash up on the Shoreline a said Judith Schiebout an leu geology professor. A its position indicates it died in deeper water from 150 to 200 feet an eight member team of leu graduate students and professors received a contract from the corps to study the red River area for fossils. They dug up 14 vertebrae thin Bones possibly from front fins shoulder Bones and Teeth several Days ago. Removal of the Skull began wednesday. The Skeleton was Complete from the belly Forward scientists said. No Tail Bones were found. Rader said the whale was about 55 feet Long. It was an evolutionary forerunner of the modern sperm whale he said. A whales started out in the water we All started out in the water crawled up on land and later returned to the sea a the archaeologist said. The changes also Are linked to inflation to rising costs in the banking Industry including the Cost of Money. A to the extent that the costs of delivering the services. Are going up it s going to be reflected in pricing. Customers will receive credit for what they have on Deposit and they will pay for transactions a Plechaty said. A somebody who wants to write a lot of checks will have to pay for each one of those checks. There Are going to be some winners and there Are going to be some the winners according to financial experts Are going to be people with hefty Bank accounts. A the people that have Money can make More Money a said Bob Walters of Sheshunoff amp co. Inc., an Austin. Texas firm that advises Banks on pricing and services. The losers Are going to be the people who keep Only a Small amount in the Bank but who. In the past have had free checking accounts. A i would say that free checking in the context of How it has been viewed in the past is probably dead a said Plechaty. Walters estimated Only 5 percent or to percent of Banks offer free checking today. He said most Banks require a customer to keep a minimum checking balance of several Hundred dollars or pay a monthly service fee and possibly a per Check charge As Well. Banks savings and loan associations and Thrift institutions traditionally make Money on what is known As a the spread the difference Between what they have to pay for Money deposited in accounts and the interest they can charge on Loans. High interest rates on savings certificates have Cut the spread. The removal of ceilings on passbook savings due in six years under the legislation passed in March will narrow the margin again. Checking accounts Are the Banks last source of a a free Money on which they do not have to pay interest. But that a changing. Now negotiated order of withdrawal accounts which Are in effect interest bearing checking accounts were introduced in new England eight years ago and spread to new York and new Jersey. Thanks to the Spring legislation they will be Legal on a nationwide basis starting Jan. 2, 1981. Credit unions started offering share drafts also interest bearing checking accounts in 1974, and Jim Williams head of the credit Union National association inc., estimates there will be 2.3 million share draft accounts by the end of the year. A Banks can to make Money like they used to taking in Low Cost deposits and converting these into Long term higher rate yields a said Herb Wegner head of a Washington d c., consulting firm. A the Banks have to go to a transaction charge a regulators Are still considering what rate of interest to allow on now accounts but most Industry spokesmen said they expected it to be in the Range of 5 percent. Passbook accounts and time Deposit certificates will continue to carry higher interest rates no one can predict what interest bearing checks will Cost. Ken Reich of the . League of savings associations said that As of the Middle of last year 56 percent of the savings and Loans offering now accounts had no service charge or minimum balance requirement. Curt Prins staff director of the consumer affairs subcommittee of the House banking committee said holders of most new York City now accounts must keep big minimum balances More than $2,000 in some cases in order to avoid stiff service fees. A the average person is not going to be Able to afford a now account a said Prins. Walters said the monthly Cost to the Bank on the average checking account today is $5 50. A Banks Are going to say a look i done to mind paying interest to somebody who a keeping a lot of Money in my Bank Why done to we Divide our checking accounts into the people who have Money and the people who done to a financial institutions meanwhile Are trying to Cut paperwork costs and attract business with new services there already Are almost 15,000 automatic Teller machines where you can withdraw or Deposit Money or Check your balance. More than 200 financial institutions let customers pay Bills by Telephone. Some 150 Banks savings and Loans etc., offer debit cards that can be used for retail purchases Wegner estimates that a direct debit transaction costs the Bank a dime the total costs of processing a paper Check Are More than 50 cents. Some Banks Are experimenting with truncation storing cancelled checks electronically instead of returning them to customers. A a it a a Way to contain increasing costs a said Robert v. Sabeck executive vice president of the Valley National Bank of Arizona. A further we View truncation As an excellent Way of conditioning the Market to the paperless financial transactions of next the cashless society a step at a timers. Jondahl Greuner and Carstensen of the Valley women s clinic wish to announce the association of Douglas a Matey jr., . In the practice of obstetrics amp gynecology2121 Pease st., suite 3a Harlingen Texas office hours by appointment Telephone 423-4030 i Harts great new accessories for fall Rios watch repairing expert jewelry and jewelry manufacturer a we buy Gold a 548 a. 10th 542-7803 need to service Call us have you seen our new collection of personalized jewelry by roman 75�to 1950 ifs Here an exciting new collection of personalized accents to Tell the world who you Are in style a. Personalized Charm key holders 10.50. B. 24" locket 14.50 Oval drop pin 10.50 d. 18" id Pendant 19.50 e. Oval bar pin $10 f. Round pin 7.50 g. 15v2" id necklace $9. Luxurious silk n hard briefs bikinis and hipsters 3 for $7 mix and match your favorite styles and colors experience the look and feel of silk with super soft silk n Handov Nylon Tricot briefs bikinis or hipsters. These stylish panties Are available in White beige or a Rainbow of pastel shades including Pink Blue Maize sea foam peach or suntan with absorbent Cotton gussets. A style #0977 tailored bikinis with lace trimmed elastic band in 100% Nylon Tricot 5-6-7. B style #2977 tailored Nylon Tricot hipsters with the look and feel of silk sizes 5-6-7. #1977. Tailored briefs sizes 5-6-7 with elastic lace. Style #1977x, in sizes 8-9. D style #1071 tailored Brief sizes 5-6 7, with Lycra spandex Bee. Style #1071x, sizes 8-9-10. E. Style #071. Tailored Bikini with Lycra spandex elastic lace at the leg and Waist in sizes 5-6-7. F. Style #271. Tailored hipster with wide Lycra spandex elastic lace at Waist and leg. Sizes 5-6-7. A Wil cards Send to Dillard s Box 13179, Crest Haven station san Antonio to. 78384 a style color 2nd color size Quantity Price name _ address City a Cash subtotal add 5.5% tax. State Dillard s acct. # zip. 1.50_postage / handling shop Dillard s monday thru saturday 10-9 Amigo land mall

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