New Braunfels Herald Zeitung (Newspaper) - March 10, 1985, New Braunfels, Texas
Bond Buyer index
Index of 20 municipal bonds; 20 year maturities, various ratings
9.0 11 18 25 1 8 15 22 1 8 15
Jan. Feb. March
Chicago Tribune Charts
Dow Jones average
Money supply [MI]
In billions of dollars
Commodity futures index
Index of weekly closing prices of 27 R=Revised key commodities; 1967=100
3-month Treasury bills
230 11 18 25 1 8 15 22 1 8 15 22
Jan. Feb. March
Source Commodity Research Bureau
7.0 28 4 11 18 25 1 8 15 22 1 8 15
Dec. Jan. Feb. March
Producer Price Index
Money supply [Mi
►■•-In billions of dollars
Sunday, March IO, 1985 4A
Texas jobless rate rises
DALLAS (AP) — Unemployment in Texas jumped to 6.9 percent in February as many aspects of the state’s economy contined to lag behind the national employment picture, a federal official said today.
Bryan Richey, regional commissioner for the U.S. Bureau of Labor Statistics, said the state’s job growth “is not keeping up with the increase in the labor force.”
The state’s jobless rate was 6.5 percent in January and ti percent in December. Nationally, unemployment dropped from 7.4 percent in January to 7.3 percent in February, the bureau reported today.
Richey said that workers may be expecting too much too soon from the recovery.
“The job expectations of the worker are out of line with reality, particularly in Texas,” he said.
Austin, San Antonio and the Bryan-College Station area remained strong in the job market during February, but other areas such as Houston and the Lower Rio Grande Valley continued to have a depressed job market, Richey said.
“We’re not doing badly, but we’re not doing very well, either,” he said.
Richey said that the depressed energy industry and the economy of the border areas with Mexico were “two important drags” on the Texas economy and the employment situation.
“They continue to hold the economic growth down,” he said.
Employment in the state’s energy-related industries has seen little growth since the end of the recession two years ago, Richey said._
Building permits off to slow start
IRS toughens mileage rules
In the past, most taxpayers who operate their automobile or truck for ' both business and personal use have estimated the percentage which was > business and deducted only the v • business expenses or used the optional mileage method (currently 20.5 cents per mile). The IRS generally would accept this when the taxpayer could provide a reasonable calculation supporting the allocation ^ between business and personal use.
J Effective Jan. I, 1985, this v procedure is no longer be accepted ( by the IRS. In order to claim a £ deduction on your 1985 tax return for a vehicle, you will have to satisfy the “adequate comtemporaneous record” requirement. Basically, this means you must keep a log and make entries in it at or near the time of each trip. Your entry in the log should indicate the date, name of the driver, number of miles, and purpose of the trip. You can just keep track of the business trips and not the personal, if you wish.
The government’s temporary regulations require maintenance of these logs for cars, trucks, buses, trains, boats, airplanes, motorcycles, and any other vehicle that is susceptible to personal use.
Examples of the IRS gives of vehicles not susceptible to personal use are forklifts, cement mixers, and refrigerated trucks.
The law further requires that your tax return preparer obtain written confirmation from you that these records exist; otherwise, you won’t be able to claim the deduction.
These requirements apply to
company-owned vehicles as well. In fact, your company will not only require each operator to keep a log but if there is any personal use of the company car, they will have to include the value of that personal use on your W-2 and you’ll pay tax on it. Many employers may choose to require their employees to use their own cars and reimburse them for business mileage.
I I I I I
I •Neighborhood Watch J I Groups* 5
ISeriously consider organiz-1 ling a self help group. They ! lean be called a Block or Neigh-■ I bor hood Watch. Invite g ■neighbors to a meeting g ■where you can discuss eachg ■others work and vacation.^ ■Exchange work and homeg ■numbers. Ask your localg ■police to send a represen-J Stative to give all of you ad-| Iv ice. Or call a Security Co.g ■These groups can be shown| (important things to do. 11 learned a lot of the infor-l ition in this column as al ;rime Prevention Officer ini louston, Texas. A local of I icer can advise you and co-1
>rdinate proper authorities. I WHEN YOU THINK
■peace of mind, think
New BraanfeU, Tx. I 78130 I
SECURITY I DESIGNS 790 Rock St.
By DANA STELL
Building activity got off to a much slower start in 1985 than it did the previous year.
January 1985 construction totaled $2.16 million, and last month’s activity totaled $1.79 million. But the figures were much higher in 1984 as January saw $12.28 million worth of construction and February had $3.18 million.
The number of single-family residences dropped from 16 to 12 in February; and there were two duplexes started.
Six commercial projects, totaling $625,000, including a recreation building at Schlitterbahn, 305 W. Austin, and an industrial building on Hunter Road for Jana White and Taylor Surgical supplies.
Other commercial projects include three offices — 226 N. Union for Tim Owens ($100,000); H & S Construction, 632 Bavarian Dr. ($25,000»; and S.D. David Jr. at 421 S. Seguin ($40,000).
February had 50 additions and
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501 landa, New Braunfels, Texas 78130 * 512/625-8051 • Member FSIIC San Anionic) Savings Association • WW "Bo" McAllister III, Chairman • An Equal Opportunity Employer MZF
alterations to residences, valued at $94,602; one residential garage, $11,000; 14 commercial alterations and additions, $151,879; and 20 structures other than buildings, $98,945.
The duplexes are being built by Holmstrom Builders at 608 and 610 Frostwood ($3,000) and by AE. Fricke Jr., Fricke Inc. at 221 Redbud A and B ($40,000).
Here are the 12 single-family residences which received building permits in February. The highest-dollar new home is valued at $106,800 and is being built by Gerald Williams for Floyd Chapman at 106 Mission Dr. That’s followed by a $100,000 home built at 7 Moss Rock by Robert W. Millett.
I. McDonald Construction, 751 Briarbend. $35,000.
2. First American Homes, 1332 Hollyhock, $79,900
3 Floyd Chapman, by Gerald Williams. 106 Mission Dr.
4. David Meckel. 839 Sunshadow, $58,000
5. Homes by Hoffmann, 323 Crown Ridge. $80,000
6. Robert W Millett, 7 Moss Rock, $100,000
7. Darrell Dieted, 1651 Allison Dr., $60,000
8. L.A. Meckel, 971 Ohio Ave., $60,000
9. Joe Dueharm, by Jerome Norris, 715 Briarbend with a fence, $56,000
10. Condra Construction, 1541 lorelei, $29,000
11. Condra lorelei, $29,500
12. Condra lorelei. $29,000
Construction, 1537 Construction, 1533
Delroy York CIC
Delroy York, CIC, brings 33 years of experience to Comaltex Insurance Agency. Inc. He also becomes the Fifth Certified Insurance Counselor on the staff of Comaltex having earned the professional designation in 1977. Mr. York has previously held various positions, both with agency and companies, and comes to Comaltex after 5 years as sales representative in South Texas for Trans america Insurance
For his knowledge and expertise he was named outstanding Fieldman of the Texas Insurance Fiekimens Association in 1962, and served as President of the San Antonio In surance Marketing Association in 1984
Delroy York and his wife, Barbara, reside in McQueeney, where he is a member of The McQueeney Volunteer Fire De pertinent. He was the Organizer and State President of the Starcraft Camper Club for several years.