New Braunfels Herald Zeitung (Newspaper) - August 14, 1980, New Braunfels, Texas
CoDallas Tx 7:25b
* Taylor Communications Inc.
25 cents August 14, 1980
Vol. 89 - No. 40 28 Pages — 2 Sections (USPS 377 880)
New Braunfels. TexasUtilities gets 'pretty good dear on bonds
Considering the market conditions, New Braunfels Utilities got a pretty good deal on its $2 million worth of bonds, financial adviser Floyd Westerman said Wednesday.
City Council at a special meeting awarded the bond bid Wednesday to a group of investors headed by Underwood, Neuhaus and Co. Inc. of Houston. That group sumbitted the bid with the lowest effective interest rate—
7.541923 percent—of the four bidders.
The Houston firm was the low bidder on last February’s sale of $2 million worth of Utilities bonds. The rate on that sale was 6.88254 percent.
However, in light of current market conditions (which he termed “depressed”), Westerman indicated he wasn’t disappointed with the bids.
Noting the Utilities badly needs the money to fund electric and sewer capital improvement projects, Westerman said had the need not been so great, he might have considered advising council to reject all bids, because he felt the interest rate would go down.
But that wasn’t a sure thing, he added. “We don’t know what the interest rate will do.”
Judging from the bidders, Westerman felt the city had received a “good, representative bid from a cross-section
The net interest cost of the bonds will be $2,060,076.25. The bonds will mature over a 22-year period.
Half of the proceeds will be used for electrical projects, with the remaining half earmarked for sewer. In the
February sale, $1 million was allocated to electrical projects, with $500,000 each going to water and sewer.
A group headed by Hauscher Pierce Refsnes Inc. of Dallas bid the second lowest rate, 7.868729 percent. E.F. Hutton and Co. of Houston headed the third-place group, which bid a rate of 7.873467. Trailing the pack was a group headed by the Dallas office of Dean Witter Rentals Inc., which bid an ef
fective rate of 7.926151.
Coupled with the February sale, Wednesday’s sale depletes the $4 million worth of Utilities bonds approved by the voters in 1974. Voter approval must be secured before a future bond issue can be approved.
The two 1980 sales were the Utilities’ first since 1974, when $500,000 worth of bonds maturing in 1994 were sold for an effective interest rate of 5.7766 percent.
Kennedy to support Carter re-election
NEW YORK (AP) - President Carter is launching his fall re-election campaign today with the endorsement he sought «*o fervently from Sen. Edward M. Kennedy and, at least seemingly, the party unity he needed to meet the twin challenges from Republican Ronald Reagan and independent John Anderson.
“I will support and work for the reelection of President Carter,” Kennedy said in a post-midnight statement.
That, perhaps even more than the declaration of nomination, was what Carter and his lieutenants wanted to hear to cap their anxious efforts to bring the Massachusetts senator aboard the campaign after the long and bitter struggle for the nomination.
The often-turbulent Democratic National Convention concludes tonight with the formal renomination of Vice President Walter F. Mondale and the winners’ acceptance speeches.
And while there was no definite word.
Three Comal County patrol units were involved last night in a high-speed chase of an escaped prisoner from Blanco County Jail in Johnson City.
The county units were radioed between 8:30 and 8:45 p.m., and joined Blanco County patrolmen in a chase exceeding IOO mph southbound on Highway 281. The escapee, David Morgan, 22, escaped Blanco County jail approximate 8:30 p.m., driving a sheriff’s department vehicle, Blanco County Sheriff Willie Haas said.
Texas Highway Patrolman Ron McCoy was the first to intercept Morgan about a mile inside Blanco County.
“Nobody else was chasing him. A license and weight trooper named Finley was waiting on him in Spring Branch. He caught up with Finley and got around him, and passed a couple of other cars with his lights off,” McCoy said Thursday.
A Comal County sheriff’s deputy, Rudy Rubio, joined the chase at Texas Highway 46, sheriff’s officials reported.
“We were running about IOO miles an hour but it was pretty hopeless; there was no chance of passing him. He sideswiped an unknown car near Cibolo and that’s where I decided to shoot at him," McCoy recalled.
McCoy said he fired at Morgan’s car eight times while driving behind him and managed to shoot out his rear window. A roadblock manned by Bexar
it was widely assumed Kennedy would seal his support with a closing appearance on the podium with the ticket he wanted to displace.
For Carter, Wednesday night’s convention session was a triumphant moment in his embattled presidency but one he was forced to share with his defeated rival.
As the roll call of the states was read for the presidential nomination balloting, the cheers often were louder for Kennedy than for Carter.
When the heads of delegations called out their votes, they consistently referred to Carter as “the next president of the United States.” For Kennedy, they used words like “gallant...eloquent ...courageous.”
The loudest cheer for Carter came when the Texas delegation announced shortly after midnight that its 108 votes had put Carter over the 1,666 he needed for renomination.
At that, the delegates waved Carter-
County sheriff’s deputies at EM 1604 failed to stop the fugitive, and the DPS men were joined by the deputies and San Antonio police units.
“My car started to die on me at that point, and I dropped behind Finley. The other units followed us into town, through two stop intersections, still going IOO miles per hour,” the trooper said.
The chase continued into San Antonio until Morgan’s vehicle reached West Avenue and Blanco Street, where the vehicle involved three other cars in a crash. One person, Elizabeth Finnigan, 54, of San Antonio, was killed in the collision.
‘‘He hit a Lincoln Continental, bounced off it and hit a Subaru and went up on top of it. That’s the vehicle in which the woman was killed. Then he hit a Ford in the rear, went through a private fence and was stopped by a utility pole.
‘‘Finley arrested him — he’d been right on his tail — and I took him to Bexar County Hospital. He had a bloody nose out of it all. Then I took him to SAPD where he was booked.”
Morgan is being held at Bexar County Jail, where he is charged with capital murder in the traffic death. He had been held in Blanco County for more Hum three months in lieu of a $80,000 bond for aggravated assault with a deadly weapon, McCoy said.
Mondale signs and shouted and stomped about the floor as Carter’s wife Rosalynn, his mother, Iillian Carter, and other members of his family watched in Madison Square Garden.
But the cheers of these unity-hungry delegates grew into a roar of relief a few minutes later when House Speaker Thomas P. O’Neill Jr., the convention chairman, interrupted the demonstration with a message from Kennedy : “I congratulate President Carter on his renomination. I endorse the platform of the Democratic Party,” O’Neill read from the five-sentence statement. “I will support and work for the re-election of President Carter. It is imperative that we defeat Ronald Reagan in 1980. I urge all Democrats to join in that effort.” Then, the speaker added, “And so, united we stand.”
That was only mostly true.
A short time later, when the Minnesota delegation offered the traditional motion to make Carter’s nomination unanimous, delegates shouted, “No, No, No.”
There was a pause. Delegates milled about. Finally, there was a stir in the Massachusetts delegation and Lt. Gov. Thomas O’Neill, the speaker’s son who had been Kennedy’s New England campaign coordinator, asked for recognition.
He told the delegates that he had just spoken with Kennedy and "it is his wish in the interest of harmony and unity and success in 1980” that Carter’s nomination be made unanimous.
With a roar of approval, the delegates acceded to Kennedy’s request.
The platform adopted earlier in the day was the key to Kennedy’s endorsement. Carter had defeated Kennedy with unexpected ease in a string of early primaries. By the end of the primary election season, the president had amassed more than the convention majority he needed for renomination. But Kennedy refused to quit.
Only after failing to defeat a rule that required delegates to abide by preconvention commitments did Kennedy give up. Carter had the votes and he was certain of keeping them, but he still didn’t get them all.
The roll-call vote on the nomination was 2,129 for Carter, 1,146.5 for Kennedy, 2.5 for Rep. Ronald De ll unis of California and 51 for others.Inside
BACK TO SCHOOL.... 1-12B
Chase culminates in death of oneGOP presidential ticket a 'crusade'
Rep. Tom I^oeffler Wednesday called the Republican Party’s push to elect the Ronald Reagan-George Bush presidential ticket “a crusade.” Loeffler spoke to a gathering of local Republican officials and well-wishers Wednesday and cut the ribbon to open the new GOP headquarters here.
About 25 of the party faithful jammed the headquarters, 145 luanda St., to meet
the 21st District Congressman on his third and last stop of a campaign swing through New Braunfels.
Holding aloft a pair of scissors, Ixieffler said they had a dual purpose: “These are also what I use to cut red tape with in Washington,” he said, to the delight of his audience.
In a two-minute speech before the ribbon-cutting, Loeffler said a
Republican administration would restore U.S. military supremacy “so the nations of the world will know that our friends and allies will be rewarded while those that act against us can expect reprisals.”
In an earlier interview, lxjeffler said America “can only be secure and free of
See GGP, Page 16A
Rep. Tom Loeffer speaks at GOP headquarters openingHurricane 'good', brought needed rains to state
SANDERSON (AP) - Terrell County Sheriff Dalton Hogg says Hurricane Allen may have brought death and misery to hundreds in the Caribbean, but it was good to the people in his isolated Southwestern county.
“We hate that they had trouble down below, but it’s been good for us. I’ve been sheriff here for 20 years, and ifs the best rains I’ve ever seen. Everything
about it has been good,” Hogg said late Wednesday.
The Haitian government said 67 people were killed when Allen raged through the Caribbean before it weakened near Texas and arced through South Texas into northern Mexico.
Two people drowned in Texas.
Gov. Bill Clements, after a helicopter inspection of the hurricane path through
Texas, estimated the damage toll from the storm might hit $600 million in Texas.
Six Texas counties have been declared disaster areas and aid has been requested for three others. A claims office was set up in Corpus Christi Wednesday to provide claims service to insured Texans who lost property in the hurricane. Disaster service centers
wore opened rn Harlingen, Aransas Pass and Alice.
Further into the state, however, Allen brought only much-needed rams.
“I drove 175 miles around the county tonight, and I haven’t seen any flooding at all. We got a real smooth, slow rain for two or three days, and the only part that ran off was what the ground couldn’t hold,” he said.
Hogg patrols Terrell County, which sits along the Rio Grande in the Big Bend of Texas, adjacent to the Mexican Border. The county is IOO miles wide at one point and has 2,391 square miles “You couldn’t draw a picture and get it any better than this rain has been for us,” Hogg said.
Hurricane Allen pushed into Texas 626 miles to the southeast near Brownsville
in the Rio Grande Valley and became a tropical depression in Mexico, south of Sanderson, touching off thunderstorms over a wide region.
“It looks like we’re pretty well over the rain. We had no bad effects from the hurricane at all. It was a blessing to us,” said Maggie McBeath of Eagle Pass, about halfway between Sanderson and Brownsville