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View Sample Pages : New Braunfels Herald Zeitung, May 01, 1983

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New Braunfels Herald Zeitung (Newspaper) - May 1, 1983, New Braunfels, Texas Stock market rally worries investors NKW YORK AP The st** k market s rally < untune--to set records. but it is now 9 month - old and the talk ti Wall Street centers on when the inevitable pullba* k will come It might seem strange that as ke> stock measures keep hitting new peaks, everyone is thinking about a br ad retreat, or "correction But as Greg Smith, director of research at Prudential-Bache Securities Inc , points out. Most investors nevertheless feel uncomfortable with a mark't that has risen sofar so fast Indeed it has The I©w Jones average of TO industrials. by climbing 29 90 points last week to a record 1,226 20, ha-* soared 449 28 since it hit a two-year low at TTH 92 Aug 12. 1982 a 58 percent surgeBusiness The New York Stock Kxchange composite, meanwhile. rose 2.12 points over the week to 94.27, and the American Stock Kxchange market value index was up 9.45 points to 426 38 Both are record highs Big Board volume average 101 14 million shares a da> against 9T 69 million the previous w eek While talk of a correction ha^ been around since fall, it intensifies as the market climbs to unprecedented levels But for the moment, many analysts say the market should reach higher ground before bumping into a broad decline "A large correction will be out a ways, it c*uld be several weeks away or even longer,” says Charles Jensen. a technical analyst for MKI Securities Corp in New York We believe the market has farther to go on the upside prior to becoming vulnerable to a greater correction.” adds Robert Nurock of Investor’s Analysis Inc. in Paoli. Pa The rail) began last summer when interest rates fell Rates have stabilized somewhat since, but the rally was earned along by the unfolding economic recovery and continued low levels of inflation As st'., k prices continued climbing, the rally fed on itself As more money poured into equities, the higher the rally climbed, triggering an additional influx of money .Analysts note. tin), that there was a substantial amount if money addable for the stock market and still is Money that was invested in money-market mutual funds. bonds and in precious metals such as gold have been withdrawn and used to buy stocks Also, the moderate inflation and the recent recession — which spurred many Americans to pay off existing bills without adding little if any new debt - has lifted consumers’ net worth As always, there will be1 periods where jittery investors take profits and get out of certain issues, causing prices to temporarily fall The Dow and other blue chips often are the first to dip But Jensen notes that, so far in this rally, the market overall often stays ahead even when the more publicized Dow loses ground "That s a positive sign' for a continuing rally, he says Hvrald-Ztitung Surxldv Vt, I 1983    6A Peart Carbon propanes to < ut th*- rit>t> I* IAH''' took » Ti lf Mf I latest (■ .is riel ■I I iffy h**i<l this vs*** * if { Tty,tot St ipptiHj C “fifer Till* CaR'on *, i ?**( hi nj    ow fi shops .irs! <te,» u European imported antiques Business mirror Small investors making comeback H v JOHN CUNNI* f Business Analyst NI VS YORK SP I' *    mT*..    -..est.if is Im- k in the market this* I.iv and that means Pie professionals >.»v that VU- an esprit til* rise in pl iers to peak lf civ t< tup I at . V The American \ s. * saturn of    Individual* In vector*, a non profit group (rased    iii Chn a* seek* to aid individuals through education and research Die association sent qu*'sti'*nnaires L-5.000 of its ro t*© mend*ts re- entlv *1    I*    I from th** first 2.OI© r**s$»oi»M*s that TI i**r> cat believe the individual investor can outperform the professional investment manager “This, of course, does not imply that R ev can outperform the pros. tint they it    > a P k    > v can,” the rather conservative    a • u»ti    an noiuit int, underlining think I iftv tw > jm ; cut *f the re sp indents said the* had earned ex* ess rates of return .rn their in vestments, ttie ass station aid, without explaining aflat ext ess meant \t I illy 15 per* **nt felt their (MT formal!* «• was subpaf As always, money speak louder than words, and wtule the assiM lotion didn t sav flow how much ttieir me inliers modi on their investments it lid release their overall earnings Hie average wa in the $(4i,i*«)to $. i.iMHirang* it said Compare that Witt; an average family income of af»»ut 120.01© or so and the 140.000 of th* ty|»cai” mutual fund shareholder, as revealed in an industry survey Bul no matter how Pie individual investor stereotypes th*- pro or the pro Pm- individual in vestor, this has Im*. investors in general a pretty good half vear for lr •    \ month et. led Mar h ti the New York st " *. I \ bange Composite Index rose 2T 2 percent. lint it least .’<>.» mutual funds beat Rial figure, some fiv rathel impressiv e amounts i ; ie I (tv Sr* Ie* t Portfolios technology Shares rose '*{ p. i. .tit to lead th*- list of jti funds surveyed hy the VV lesenlierger S**rvice And blist Investors Dis. .(very I virid jurii|H-d Ti .'per* ent Not bad by any means or measure VS* e Ti 4 JKI i ent • I fie funds in the Wiesen berger list .tp.e > I the stih k exchange * * otnpoaite in*Jex. th*' lest did not Ihe average gain of the 5*4 funds was univ 24 T jmt* **nt, arui many funds scored in tin* single numbers Linda Dorrance named to national committee Financial focus Bank news Free resigns NB Savings Gerald VV Pre*- president of New Braunfels Savings and laian, fias handed in his resignation and plans to become president of similar institution in Ty ler Until his successor is named, however. Free plans to remain in New Braunfels arid will assist in the selection process of th*- new president Free tu*s served in that capacity since September, 1975 Once his stressor is chosen b ree plans til go to I vier to become president of that town’s First Federal Savings and D*an. with assets of over $100 million This association New Braunfels Savings and Dian has grow n so fast and is on the verge of even greater growth,” said Free I believed in 19T5 when I came to New Braunfels that my career had made a great leap, hut the new opportunity in I v ler is a challenge I had to persue Ben W Bin k, chairman of lh** board of NB SAI. expressed the board’s deep regret at Free's departure stating. He’s put a lot into New Braunfels Savings and I Alan and into the community We fiat*- lo see hun go but understand the opportunity he has in Ty ler ” Since Free has been with the local savings institution, New Braunfels Savings and loan’s assets have grown from just over $1 million in 19T5 to IJT million Die institution itself has more than doubled in size since 198(1 Free has been active in civil affairs. including his service as past president of Rotary, a member of city's planning and zoning committee, th** American Red Cross, Community Actors rhea I re group and trustee arni former board chairman of the bust United Methodist Church of New Braunfels Texas Commerce growing lexas Commerce Ham flares extended it*- 15-vear record earnings and asset growth that ranks it as Rn* nation’s fastest-growing large banking organization,' according to tfiat company s annual report Th** finn which is th*- parent organization of Texas Commerce Bank New Braunfels reported net income for 1982 of UTO million On a jM-r share basis, 1982 net income was $j 15, an increase of 20 j*er* ent over Rn $4 44 earned in 198! In every quarter for the past 5T quarters, earnings pier stiare have increased from th*- corresp>onding quarter of Rh* previous year, a record exceeded by only six of the 1.500 companies list**d * on Rh- New Y.irk Stock Kxchange.” Ben b Love, chairman, said in his stockholder newsletter Robert A Bennett s Business Day ' column in the New v<h* Times recently    set Texas Commerce Bam shares as the 19th largest banking organization ut Rh* U S after a 26 pvercent growth in 1982 iii*Teased its total assets to $18 2 billion iota I loans at the end of the year were $'*8 In Ilion after an average growth of 28 percent in 1982 As of Dec 31, 1982, Texas Commerce Ban* shares. Inc . was made up of j8 meddler tamks with 8.2T9 employees In Central Texas, the complain is represented by two hanks m Austin, one iii San Antonio and one in New Braunfels As of I Vt 31, 1982. the lo* a1 branch of texas Commerce fwd total assets of $,’5 million, total deposits of $*»9 million and total loans of $4 I millionVictoria dividends declared Die board of directors of Victoria Bankshares, Inc , has authorized a regular quarterly cash dividend of 25 cents pier share for Rh- second quarter Victoria Bankshares In* , is the piarent company of New Braunfels National Bank and 15 other financial service companies and hanks Mergers are pending with seven other financial institutions The dividend will be paid June 24 to shareholders of record as of June IO This will tm- Victoria s 3Tth consecutive quarterly cash dividend Die |90fl million dollar hank holding company initiated a dividend reinvestment program in March just pirior to th*- payment of the first quarter cash div idend Response tu.s fi**»*n well fie yond Rh* most optimistic proje* lions.’* said P K Stubblefield, president More than 15 percent of th** ap-proximately 2,100 shareholders. representing more Ruin 40 $>ercent of total shares fiav*- elected t«* par-Ucipate in the plan, who h he said is a very positive step to continue the strong * a pa ta I (Misition of tf»«- cor pmration Victoria Bankshares, Inc , stea k \v mhtil VR "I, apears in the National list of NASDAQ tfi* Nationwide Network of til* National Association of Securities {keglers Automated Quotations Publications list the sit*, k in the National Over the Counter section under the symbol Vici Ruch Fund managing methods 1am a1 Diet-4 enter owner counselor lamia Dorrance. RN, recently at temled a four-day 1*8.1 spring ui selor training seminar -ii i i ’.cd ii. Philadelplua by Diet ( enter In* At this seminar whit ti feature I leading experts from th* field-weight control, business m municat ions and nutrition Dorrance was namc*d to th* natl • al advisory board for Diet ( enter In* Keynote speaker, lh Oner I iii or Jr., editor and publisher f A»f#-r Tadev and current president of Nutrition Today Society, discussed many a spa** Is of nutrition as it r *'la’- > to dieting Ty Boyd, a nationally renowned speaker also spoke Diet I enter Foundation founder, »Nv btl Ferguson and several executives from th** Diet ( enter International office, addressed th** audience of participants from throughout the I .s and Canada Ferguson has written a b*M*k about her j)r*'gram an*! is touring the country promoting the f>*»*.k Although she herself cannot Im* h**r»*. a video cassette showing of Ferguson will ta* played May Tri from 9 JO a rn to i p rn at Krause's Bookstore tntrep/eneot Magazine flus rated th*- Diet Center program as the top) program for weight loss for fitness fmachine* for the third consecutive year It is abo listed sixth In the top 500 franchise" list My SIAN CUNNINGHAM I dward D Jones and Co Many investors who gear their approach toward the long term consider professional management of their funds Basically there are two ways we van have our funds professionally managed (Hie is private professional management and the other is public professional management through private management an investor places his investment funds with an investment advisory or advisory service Some services will .inept an account as small as $50,000 but generally the top firms will l*»*>k at $200,01© and above Most of the major servo es do not accept smaller individual accounts If, however, you want .md qualify for private professional management it is essential to make an in-depth study of the investment team you choose to manage your money l o pla* «• on** s assets in the hands of a stranger to Im- managed at his discretion without a complete studs of the finn s reputation, references, past performance, time in business, etc is the qui* ki st way I know to permanently separate the investor from his investment funds' Some are mesmerized by the term “private investment adv ic*- " Practically speaking you can see how many accounts an advisory will have to handle in order to make his time profitable, if the accounts averaged only 150,000 to $75,004) in net assets In such cases, accounts of like investment objective are managed together When an investment position is decided it will la* executed in all the accounts having this same objective Investment Term of the Week: Maturity : The date on which a loan or a bond or debenture comes due and is lo be paid offInternational office formed by WestPoint To improve and expand th* company’s position in markets outside Rh* United States," WestPoint Pepperell has established an international division Th** division will Im* lo* ated at corporate headquarters in WestPoint Ga , and will be operational by May I. said J I linier, Jr , chairman and chief executive officer In order to continue to ta successful we must become more international in scope,” limier said ’ We must Im- willing and able to buy and sell not necessarily manufacture wherever the opportunity presents itself Die international division will be responsible for expanding our existing import and export businesses, supervising our present and future investments abroad, and for seeking and developing opportunities around th*- world for new investments and for licensing our technology and trademarks,” he added Richard H Monk, Jr . vice president, secretary and general counsel, has been named president of the division Monk joined the company 17 years ago. Royiil opening ;