New Braunfels Herald Zeitung (Newspaper) - July 21, 1985, New Braunfels, Texas
Producer Price Index
Money supply IMI
In billions of dollars
Sunday, July 21,1985 6A
City sees sales tax increase
The city’s tax payment for sales made in May was $20,000 higher than the one for May 1984. Meanwhile, payments to date this year total about $144.0<Jo higher than last year’s.
State Comptroller Bob Bullock Thursday sent checks totaling $56.8 million in local sales tax payments to the 1,003 cities that levy the one percent city tax.
July checks represent taxes
collected on sales made in May and reported to the Comptroller by June 20.
New Braunfels collected $122,227 in May. Last May, the city received $102,176.
The city has raised almost a million dollars — $994,375 — so far this year. Last year at this time, it had raised $849,595.
Garden Ridge is receiving a check for $549. So far this year, that city has
Seguin's May payment dropped from the same period in 1984 — the city collected $65,914 this year, compared to $73,286 last year. However, payments to date are up over last year’s with $663,892 collected so far and $602,700 collected last year.
Schertz collected $22,826 rn May 1985 and $17,613 in May 1984; while
Marion collected $2,666 in May 1985 and $1,892 in May 1984 The city of Cibilo raised $3,315 in May 1985, which was down from the previous year’s collection of $5,485. That city’s year-to-date total also dropped — from $45,413 in 1984 to $37,681 in 1985.
San Marcos garnered $105,532 in May, compared to last year’s total of $100,410; the year-to-date total is $980,935.1 .ast year's was $849,951.
Western provides center funds
Western U.S. Mortgage Corporation of New Braunfels, has announced the closing of a $6.3 million package of interim construction and long term financing for
Westcom Development Corporation of Austin, Texas. The funds will be used to construct a first class office-retail shopping center known as •‘Three Points”, totalling 66,600
square feet. The center will be located at West Anderson I-me in Austin.
Glen R. Peterson, President of Western U.S. Mortgage Corporation,
a New Braunfels resident, states that his company has now closed a total of $43.5 million of interim construction and long term loans in Texas during the first six months of 1985
Interfirst reports 20 percent gain
DALLAS - Interfirst Corp. today reported that net income for the second quarter of 1985 was 20 percent
higher than in the corresponding period last year.
The company said it earned $16.1
million (24 cents per fulls diluted share) in the quarter ended June 30, 1985. This compares to net income of
Advantages, disadvantages of stock
Every coin has two sides, so let’s discuss some of the disadvantages of preferred stocks. Generally speaking, preferred stocks pay a fixed dividend. Unless there is some
written provision to the contrary, a $4.50 preferred stock will pay that amount and no more - $4.50 per year per share. With a common stock there is no set dividend. It can rise,
DERYL CLARK HERALD ZHIUNG
John and Gem Lecas, owners of Advanced Satellite, are shown with John Poster, president of the New Braunfels Chamber of Commerce, during recent grand opening ceremonies for the new business.
fall, or disappear as the financial status of the company changes. Careful study shows that many old. blue chip companies have a long history of increasing dividends on their common stock If good fortune continues, an investment has the possibility of more income in the future. This is not the case with preferred stock Preferred stink promises a set dividend, and that’s all it pays.
Another disadvantage of preferred stock is that at the discretion of the directors preferred dividends ma> not be paid. Remember, no matter how we dress them, preferred stin ks are still equity, and thus represent ownership With ownership, fortunes rise or fall depending on how well or poorly the company does. With a bond or debenture which represents a debt of the company the interest payment must be met.
Common stockholders have the right to vote on compaa) policy, and votes on matters are usually taken at the annual stockholder’s meeting. A common stockholder may cast his vote in person or by proxy. A proxy is a power of attorney that appoints an agent to vote for the shareholder. There is one vote for each shareholder. There is one vote for each share owned. Preferred stocksholders have no voting rights This may be of little importance, but it is a restrictive feature about which the preferred stockholder should know. I have never found my limited votes to make an appreciable difference of the company. However, in the book a Guide to Profitable Investing,” the author advises us to avoid equity investments with no voting rights.
Investment Term: Voting Hight -The stockholder’s right vote in the affairs of his or her company. Preferred stockholders usually have the right to vote when preferred dividends are in default for a specified period. The right to vote may be delegated by the stockholder to another person.
Jack Daniels Or. 80°Bourbon
jDaviess County Bourbon 80tJ j
j Jim Beam Bourbon 80u Ltr. *7.49
J Johnnie Walker Red Scotch ^
" 86.8° 1.75 Ltr............*20.49 f
| Passport Scotch 80°Ltr. .. *7.99 |
* Cutty Sark Scotch 86' 750 MI. ^
I .......................*11.45 J
M Aft A A A AA A AA KA M A A Aft A AI
Ruinite Wines 1.5 Ltr. 8°/o.........*5.79
Semi Dry White & Red & Rose
Kroger Shopping Center
I Good thru 8-3-85
rn fan irWVnrV wVWVW*
* Fieischmans Regal Vodka 80° ^
1.75 Ltr..................*6.99 J
Rikaloff Vodka 80° 1.75 Ltr. *7.99 ?
f Canadian Club 86.6“ 750 MI. 'A
I Canadian L.T.D. 80“ Ltr... *6.49 J ^ Montezuma Tequila (wh) 80"
J Bacardi Rum Silver 80° Ltr.*6.99 ^
$13.4 million <20 cents per fully diluted share) in the second quarter of the last year and $15.1 million <23 cents per full) diluted share i in first-quarter 1985.
For the six months ended June 30, 1985. the Dallas-based bank holding company reported consolidated net income of $31.2 million 147 cents per fully diluted share) compared to $23.0 million '34 cents per fully diluted share i in the comparable 1984 period.
Interfirst Corp. has 68 members throughout Texas Its common stock IFC ) is listed on the New York Stin k
with the new
Kurt Sbellenberg with Lighting Services Inc climbs a trant* to replace the old Holiday Inn sign in New Braunfels According to Bett\ Rushing New Braunfels City Council member the new sign was simple and tasteful * and I hope others will follow their exceptional leadership Company officials san! that signs on Holiday Inns across the nation are being changed
LUU A1 th LL Of HANH „ .
Moank New Braunfels Box 961
New Braunfels, Texas
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JUNE 30. 1985
CONSOLIDATED REPORT Cc CONDITION (Including Domestic and Foreign Subsidiaries)
(Dollar Amount*, rn Thousand!
OoHar Amounts in Thousands
1 Cash and balances due from depository institutions a Noninterest bearing balances and i urrency and com b Interest bearing balances
3 Federal furvts sold and securities purchased under agreeriu- ’s - f) , > j bank and of its Edge and Agreement subsidiaries and in IHI s
4 Loans and lease financing receivables a Loans and leases net of unearned income b LESS Allowance for loan and lease losses c LESS Allocated transfer msk reserve d Loans and leases net of unearned income
allowance and reserve (item 4 a minus 4 b and 4
5 Assets beld in trading accounts
6 Premises and fixed assets (including capitalized leases)
7 Other real estate owned
8 Investments in unconsolidated subsidiaries and associated companies
9 Customers liability to this bank on acceptances outstanding
10 Intangible assets
11 Other assets
12 Total assets isum ot items 1 throuah ill
13 Deposits a In domestic offices
(1) Noninterest bearing
(2) Interest bearing b In foreign offices Edge and Agreement subsidiaries and iBFs
(1) Noninterest Dearing
(2) Interest bearing
14 Federal funds purchased and set unites sold under agreements to repurchase in offices of die bank and of ifs Edge and Agreement subsidiaries arui in IBFs
15 Demand notes issued to the US Treasury
16 Other borrowed money
17 Mortgage indebtedness and obligations under capitalized leases
18 Bank s liability on acceptances executed and outstanding
19 Notes and debentures subordinated to deposits
20 Other liabilities
21 Total liabilities (sum o* items 13 through 20)
22 Limited-lde preferred stock EQUITY CAPITAL
23 f*erpetua< preferred stock
24 Common stock
26 Undivided profits and capital reserves
27 Cumulative foreign currency translation adjustments
28 Total equity capital (Sum of items 23 through 27)
29 Total liabilities limited life preferred stock and equity capita' isum of items 21
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ROTI This report im jsI be Signed by 41 duihou/ed ottweiisi end ^nested b* ii less than thief duel 1. • , thr- then (he otluensi signing the leputi
I We the undersigned officer(s) do hereby declare that this Repot I of Condition rids been prepared in conformance with obit tai inslpuuboiis dud is ti !u dottiest ut my knowledge mid behel
OF thin Hf$)AblF(pW2ED TO SIGN REPORT ~ DATE SIC NED
NAME AND TITLE OF (^IcVriV^U^oSiZF D TO SIGN Rf PORT
Daniel L. Dxetert Executive Vice ii. si it nt & Cashier
July IO, 1985 AREA CODE RHOM NO 512/625-8501
We the under signed directors, attest the correctness of this Report of Condition and declare that it has been examined by us and to ttie best of our knowledge and belief has been prepared in conformance with official instructions and is true arid correct
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