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  • Location: New Braunfels, Texas
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New Braunfels Herald Zeitung (Newspaper) - February 5, 1984, New Braunfels, Texas Business Hvrald-Zeitung Sunday, February 5,1984 BA Wall Street watches dollar NEW YORK (AP) - Wall Street analysts are watching the dollar closely in foreign-exchange markets for possible cues to the future course of stock prices. Over the last four years the dollar has put on an impressive show of strength, reaching record highs as recently as last month against leading foreign currencies. In many ways, of course, this performance has been a pleasant change from the dollar’s woes in the 1970s, when it got so weak that some analysts feared its days as a world standard were numbered. But as the dollar’s recovery progressed, economists say, it became too much of a good thing for many important participants in the U.S. economy. It did help reduce inflation by pushing down prices of imported goods for domestic consumers. But at the same time, those attractively priced imports represented stiffer competition for merchandise produced by companies in this country. And by raising the price tag on American goods in foreign markets, it hurt sales of many U.S. companies that do a significant portion of their business overseas. In 1983, the United States had a record $69.4 billion trade deficit. “The drop in U.S. net exports resulted partly from the earlier and stronger recovery in the United States as compared to that of our major trading partners,” economists at the investment firm of Goldman, Sachs it Co. observed in a recent report. “But market-share analysis suggests that the high foreign exchange-value of the dollar, which makes imports cheap and U.S. exports expensive, i? also significantly responsible for the slide in net exports.” Thus, when the dollar took a downward turn in foreign exchange during the past week, it quickly caught stock traders' attention. A flurry of buying quickly showed up in the stocks of international companies like Merck, Pfizer, Johnson it Johnson and Coca-Cola. That turned out to be the only bright spot in the stock market's fourth straight declining week. The Dow Jones average of 30 industrials fell 32.97 to 1,197.03, bringing its loss since Jan. 6 to 89.61 points The New York Stock Exchange composite index dropped 1.79 to 92.98, and the American Stock Exchange market value index was down 7.19 at 213.34. Big Board volume averaged 108.83 million shares a day, against 102.67 million the week before. Deferred annuities offer flexible options By STAN CUNNINGHAM, Edward D. JonesfrCo We have been discussing the single premium deferred annuity. So far we have pointed out that your principal is guaranteed by the insurance company and that all interest is allowed to accumulate tax deferred. There are other advantages to a deferred annuity. The insurance company offers you very flexible options. One such option is annuitizing, that is, setting up regular annuity.payments for the rest of your life. The amount of these payments will depend on (I) the value of your investment and (2) your life expectancy. You will receive these payments the rest of your life. That is guaranteed lifetime security. This option, of course, does not appeal to everyone Financial focus but in my dealings with elderly clients I have found that the single most fear is outliving their income. With an annuity this is impossible and offers many a peace of mind that is hard to measure in dollars. What happens when you die? Unlike most of your assets, annuities bypass probate. When you sign your contract you name one or more beneficiaires. On your death, if you have not annuitized your contract, the proceeds go directly to the named beneficiary. You avoid the delay, cost and publicity of probate. Probate costs will vary but generally average from 4 percent to 8 percent depending on the state and the attorney with whom you are dealing. Simple arithmetic shows that on just a $50,000 in vestment, probate cost could cost your heir $2,000 to $4,000. A single premium deferred annuity is a simple, basic money management concept that I feel comfortable to recommend to my clients. I know of no other vehicle that will give you the benefits that we have discussed: — guaranteed safety of principal, — compounded, tax-deferred interest, — control of taxes. — flexible settlement options including lifetime annuity payments. — avoidance of probate. There are several variations of this basic concept which may very well fit your investment needs better. It would be to your benefit to contact your investment adviser and let him explain specific deferred annuity plans. Business mirror lf Reagan can't cut it, who can? By JOHN CUNNIFF AP Business Analyst NEW YORK Few things seem dearer to the heart of Ronald Reagan than cutting the size of federal government and building up the private sector. Why then has federal government activity under Reagan accounted for a greater ratio of Uh* country's total output approaching one-quarter than under any recent president. Democrat or Republican? In that figure lies a tale of frustration and a warning too. If the most powerful figure in the country cannot cut tin* budget, who can? And if the budget cannot be cut, or taxes raised, can financial problems be avoided? Government spending rn fiscal 1983 amounted to about 24.7 percent of gross national product, compared with about 22.6 percent in fiscal 1980. when the president took office and promised to cut costs Those promises are still being made, as you can hear or read about every day. but if cuts finally are achieved, they still might leave the ratio higher than for any president since World War ll. Under Jimmy Carter, rebuked by Reagan for his spending propensities, the ratio never got above 22.6 percent. Under Richard Nixon the ratio got down to 19.8 percent in 1974. Lyndon Johnson's highest was 21.5 in 1968 And back in 1956. Dwight Eisenhower managed to lower the rate to 17.2 percent. A lot has happened since Eisenhower's days, including a heightened interest on the part of Americans for the good life, provided if need be by the federal government The willingness to pay for the good life, however, apparently has not risen proportionately. Cut health care*1 Can anybody cut health care? Rarely. Individuals haven't been able to do it in their own personal affairs. Doctors dislike the very idea of saying who should be aided and who left to die Insurers have failed at the job. Hospitals too Cuts in education. Social Security and welfare aren’t much lower on the scale of acceptability. Environmental spending is high on the list of untouchables. And defense is in a category of its own. Where, therefore, do you cut? And how do you cut? And how do you cut and remain in office0 And since cutting seems to have become stalemated, how do you lower interest on the national debt, the tab for which keeps rising'’ Business briefs Coleman announces two promotions James M. Boenig has been promoted to manufacturing engineer at the Coleman Company Inc. He is a native of the New Braunfels area and joined the company in 1980 as quality control inspector. His most recent position was quality control leader. Michael Fickelman has been promoted to quality control leader. He lives in New Braunfels with his wife. Becci. Fickelman joined the company in IMI and was most recently a quality control inspector. Smith vice president of Texas Commerce Bank Tin* board of directors of Texas Commerce Bank-New Braunfels has elected M. Ray Smith vice president of the bank effective Feb. 13. Smith has 20 years’ experience in business lending in the United States Small Business Administration and is a Certified Fublic Accountant. He and his wife, Claire, are members of the First Protestant Church and have two grown children. Tolan joins WestPoint division William P “Bill” Tolan has joined WestPoint Pepperell’s Apparel Fabrics Division as junior cost accountant Tolan was formerly a landman with Dtgicon in Houston, from May 1981 until June 1983. A native of Oklahoma City, Okla , Tolan competed Bishop McGuinnes High School there He earned his bachelor of science degree in economics at Oklahoma State University and attended Southeastern Oklahoma State University and Northeastern Oklahoma State University, where he majored in accounting. He and his wife Denise reside in New Braunfels. sssssssss$ssssssssssssssss$$$$$$s$$$$sssssssssssssssssss$sssssssss s $ Bock Motor Co. Is Having A Giant I $ JU I DXO a ii $    One    Week    Only! Feb. 6th Thru lith One Dollar Over Factory Invoice Will Put You In The Cougar or Topaz Of Your Choice ♦ I Kens* l ax 4 TOW Charge* Extra IMI Topos It’s front wlieel drive traction, precise handling, and crisp maneuverability let you tame the road Test drive it today *-5:    ■ Topaz GS Over a billion dollars went into the making of the 1984 I opaz At our price, what are you waiting for? Introducing the Cougar XH-7 Tor bo For those who love life in the fast lane Drive it today Cougar XR 7 New 1984 Cougar Begmd its sheer beauty and elegance, youll discover some of the most advanced computer technology in cars today. Dove one today! We Have A Large Selection To Choose From So Hurry In Soon. SIS N. Sepia Avene "We'd Rather Say Yes Than No" Bock Motor Co. 8254011 SSSSSSSSSSSSSSSSSSSSSSSSS sssssssssssssssssssssssssssssssssssssssss ;