The Baytown Sun (Baytown, Tex.), Vol. 64, No. 77, Ed. 1 Thursday, January 30, 1986 Page: 3 of 44
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THE BAYTOWN SUN
Thursday, January 30, 1916
Estate planning necessary act
ty.
;er
Pi, Phi
gma XI
esearch
leering,
of the
, „ _ For a taxable estate of under amount over $3 million
options for the next $500 000 - no tax; $500,000-
By CHANGING TIMES
The Kiplinger Magazine
The best-laid plans for passing
a business from one generation
to the next can blow up Ip your
face if you fail to take into ac-
count your invisible partner;
Uncle Sam.
serve some
generation.
Persons who die this year get a
750,000 — $155,800 plus 37 percent tax credit of $155,800, enough to
George Hagerty, an estate tax of amount over $500,000; offset the tax on the first $500,000
specialist with the New York of- $750,000-$l million — $248,300 of lifetime gifts and bequests,
fice of Arthur Young, told plus 39 percent of amount over Starting in 1987 the credit will
Changing Times fnagazine the $750,000; $1 million-$1.25 million protect the first $600,000 of ,an
first step is to have a realistic —$345,800 plus 41 percent of > estate,
estimate of the value of the amount over $1 million; $1.25 Consider the liquidity of your
Owners of successful busi- business and your estate. The million-$1.5 million —$448,300 assets and the ways you can pay
nesses are often clobbered by IRS has stunned some families plus 43 percent of amount over that final tax bill. There
the harshest of all taxes — the with a taf’ bill based on a value $1.25 million; $1.5 million to $2 several alternatives, com- r
federal estate tax — qnd its far higher than they dreamed million — $555,800 plus 45 per- binations of which are often us- l
aftershocks, state death taxes, the business was worth. cent of amount over $1.5 million; ed
$2 million to $2.5 million —
Club,
1 S
Society,
id the
-
in High
ved a
degree
in 1932
hysical
>m the
A*
are
r
M
-
ft.
iMMRMkadMHhMdflLmia^MNLJi
I.
—
—Take out life insurance
Once you know how much $780,800 plus 49 percent1 of the amount of the potential
caught unprepared, your family you’re worth, calculate the es- amount over $2 million; $2.5 tate tax bill,
could be forced to give up con- tate tax bill facing your heirs if million to $3 million — $1,025,800
in
ke.
If you own a business and are
es-
him
7 as a
of the
ft.
—Leave your interest in the
you were to die today. Use the plus 53 percent of amount over business to your spouse, thus
v Careful estate planning can following 1986 tax rate schedule $2.5 million; over $3 million — avoiding the estate tax alto-
hold down the tax bill and pre- below to get a rough idea
trol
FRESH FROZEN FILLETS
fe. Bil-
lon; a
i-law,
s and
ielphi.
leleine
ustin.
a and
■
or ■
$1,290,800 plus 55 percent of gether
Catfish
Heating fuels fire risk
Bealls
•Many die trying to keepf warm in winter
B-B-Q CHICKEN
m
Leonards old fashioned Meat Market with old
By JIMMY THORNTON
Copley News Service
Because of high energy costs, cidentaily used in the heaters,
families have been turning to causing them to flare up uncon-
The colder temperatures of electric heaters, kerosene heat- trollably. Usually, the fuel was
fall and winter increase the risk ers, wood stoves, fireplaces and, stored improperly in a kerosene
of home fires as people try to in some regions, gas heaters to container.
keep warm. '2. Kerosene heaters with pro-
The committee reports a per fuel also had flared up spon-
close look around your home in dramatic increase in recent taneously. The committee
search of fire hazards you can years in the number of fires ports that its research indicated
either reduce or eliminate alto- started by supplementary flare-ups can be caused by a
gether. heaters, while residential fires slight draft on an overheated-
There is growing concern over from other causes have declined heater, forcing an overabund-
the use of various types of space nationally. ' ance of kerosene vapors out of
heaters to save energy by sup- A chart shows that frdm 1977 the device,
plementing central heating sys- *to 1981, nationwide, residential , Ma„u'„w„ fir^c aft. fans,
terns. The Citizens Committee fires caused by central heating . . J heaters beine
^r Fire Rrotection, based in systems declined to fewer than ^ ^XsTtocombStS
Washington,/D.C., says its re- 20,000 a year. During the same F A . number of fires
search shcrtvs that people who period, however, fires froih non- 8d bv W00d-burnine
use supplementary heating central heating sources rose Ses andfireolac^
sources dramatically increase from approximately 60,000 to . ' & >
more than 80,000 a year. Chimney fires are usually
The committee claims that the The committee, which studied caused by a buildup of creosote
Underwrites1 Laboratories’ UL 1,800 reports on fires started by insiae the chimney.
JabeHffTKousehold appliances is supplementary’ heaters, found The committee’s research
misleading because, in the com- that
mittee’s opinion, its testing for —
fire safety is inadequate. It says suited in an exceptionally high 1 j Manv chimneys are in
that lab conditions do not dupli- death rate. Fatal fires often stalled improperly
cate the way stoves are used in broke out in bedrooms while the'
homes. It concludes that electric occupants were asleep. Usually
heaters are not sale enough to be the heaters ignited beds or bed
permitted in apartments and covers. •
other buildings where more than In some instances, a child had
one family’would be affected by pulled a heater too close to the
a fire
fashioned prices and old fashion service.
KELLEY’S BAIT and
TACKLE 0
LEONARDS!
jy li-
mited
Ol
til
keep warm.
So, now is the season to take a
Located IV2 miles east of the Trinity
River on I.H.-10.
Fan-
YOUR FULL LINE MEAT MARKET
FRESH PIT BAR-B-Q FOOD COUPONS WELCOME
Jjl 3 S. 4th Street 422-5327
Mon-Sot 8-7 Sunday 9-5
■a ers.
re-
(409) 389-2454
iirec
;imer
We sell tackle, artificial lures, live
bait, mud minnows, frozen bait
(shrimp, liver, etc.).
*
'he
fl
11 12.
NAAR K£a
later
%
1
... U, v;
Co
unty
0
8
0
the risk of home fires
[i!
enot.
g
C
/
and
h]
Q
O
e af
W
&
i, the
suggests three reasons for chim
m
Electric heater fires re- ney fires
nan-
and
PEDIA CARE
FIBRETRIM
SOLID 14K
FLOATING
HEART
EXCEDRI
her
CHILDREN S COLO REUEF
FORMULA
100'S
liets 6<
399
2. Fires in the fireplace are
\ hotter than the chimney was de-
signed to withstand.' (The excess
heat could result from trash be-
ing thrown into the fire. >
am
1.2
\
02
2SOS
trim
she
YOUR CHOICE
V,'
\
799
3 $0
8E Z
l
died
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FORMULA 5
24 Tablets
3. Chimney fires become so hot
The committee has supplied *- Three major problems ap- that parts of the chimney expand JitT
the news media with its findings peared with kerosene heaters: unevenly and pull apart or ^ cj0RE ^ < •
and a plea to get the word out, * 1. Gasoline was sometimes ac- buckle, exposing combustibles. ^ 'j'plM,
bed in an effort to stay warm
IBtR$1S9
3“
op-
STATEMENT
^ OF CONDITION
%# InterFirst Bank
•my
ill
B-D
EQUAL
i a
fl
DIGITAL FEVER
THERMOMETER ■
SOI
100 Packets
-
299
am
$^99 jSSS?
"91 S0*w-j
W
ber
j
KVK
CONSOLIDATED NERONT OF CONDITION (Inclvblflg OoiamiIc and fof.lgn SabtWiarlas)
^6
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LEGAL TITLE OF SANK
IntcrFirst Bank-Baylown
Boa 41)0 1
Baytown, Texas
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77520 .
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Harris ,
Stirr-
Texas
llwcoot
77520
CLOSE Of BUSINESS OATt
December II, I98S
Baytown
ent
JTfis’
NEO-i
DoXai Ainounn in Tiiauawioa Sa MX {Thou
BEN-GAY
ASSETS
-
IYNEPHRINE
VA 02
$^39
ALCOHOL
fa
a. NomEwraff - t»a«ng baiancat and currawcy and coin
I
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lb
5 OZ Spray , 'i
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3 F#da»al fundi nod and ncuHfi#$ ptxchaitd undav aQtvctwM k> tiwd lyi doftwlic often of Itw bank
ft ^
3
and of *t Edga and Aprtamam luMdlhn.indinBFi
Vv;,
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Hill
a Loans and ftawi n«t of unaamtd incoma
«a.
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317
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64
d Loans and Itasos. na» of untied incovna.
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7......
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VISINE 1m
EXTRA STRENGTH
in
ftot i
y.
TYLENOL
1.
ttei>
’/: 01
[Sj&FJ
.
NO NONSENSE
$ 4 5g PANTY HOSE DESIT1N
100 capsules
1©
hat i
$5S9
I
76Z
IT Omw aaaain
■ .
LIAWUTCS
is tWoon-
■
ie
Ant)
■*%
ISA.
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lfi J2
13 a (l)
13 a (3)
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12) mia»aai - baannj
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£
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itaie.
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if*
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■/
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1
GENTLE
$1?9 NATURE
1 FROM EX-LAX
15.
PEPTO-
BISMOL
8»f219 *1
- 24 Tablets I
METAMUCIL
CHLORASEPTIC
a $949
ft\\ 6 OZ-Liquib mm
$139
18 Lozenges I
IS.
JKoie.
* 11.1 oz Sugar Free
12101 Regular, Orange
IS
tore
1
--and Strawberry
1994=36"
1*.
500
*
I
*
Wgentle”
r NATURE:
16 s
59
20 owiar aabiMios
L Z2fl
20
1
31 Total aabiMias (sum of Hams 13 through 30)
fliasz
I
22
EQUITY CAPITAL
*
I
i®
10p50
loopy
73 Parpaiuai prafarrad stock (No of sharas outstanding
23
14 Common stock (No of sharas a Authorized
/
I
_60Q_
160Q.»
b Outstanding
25 Surplus
26
2© Undivided profits and capital reserves
Natural Vegetable Uutr*
27 Cumulative foreign currency translation adjustments
L2ZL*
:
2© Total equity capital (sum of Mams 23 through 27)
” Tow ^ "WLSSO** and 28)
MEMORANDA Amounts outstanding as of Report Date
1 i 5fi«aey VvMvts of credH. Toiat
t b Amount Of Sfndby tetters of credH in memo M conveyed to others tfwpugh_ participations
NOT! Thu itpori must be ngned by m euthonzed off<H»l end attested by net »>ss then ttvee dirKters ether then the othceitsl
1/we the undersigned olhcertsL do hereby declare that this Report of Condition has been prepared in conformance with official mstruc
29
FLEET
GLYCERIN
SUPPOSITORIES
$149
BUTLER G U M.
TOOTHBRUSHES
LISTERINE
ANTISEPTIC
$179
\ 3202 A
a?.X?
A MESSAGE FROM YOUR DRUG-
GISTS MARKETING GUILD
PHARMACIST: Protect your
children from a growing epi-
demic with a precious Prints"
Fingerprint/Identification Kit.
Order a Kit for each child in
your family. Free' With the
purchase of Fleet Glycerin
Suppositories.
*. 75 for postage and handling
.©
^29
lb
1-^)
Adult 24 S
' OATE S&BNEO
.^;-86_
ANRA COOE/PHONE NO
REPORT
•O
SIGNATURE OF OFFIC!
NAME ANO TITLE x/oFfKE^S)^T^IJ
Sonit
BUTLER
FLOSS
I
JL
rsiGN REPORT
ice President/Controller
R.-Britt Puxev
SOytl OR
TOO yd.
of this Report of Condition and declare that it has boon examined by us and to the
We.the undersigned directors attest the
prepared try conformance wHpr orttcift
- fSONl^lWE OF DXtECTOtf^
— . A^
. ..... Court, M......HtrrlS
do, 01/.... J«nu«ry
$^09
LAXATIVE
OtRECTOR
LT|
“Sr.I
>»86...........
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iCak e/tAAK
si.*6 Texts
FOP
NOTAPYS St Ail
SMnton 4<wy Publj
Ajilie A. Morrison >
SAU STARTS TODAY - LASTS THROUGH FEBRUARY IS, 19U
tnd I hereto, cwfiiy that I on not tn otlfeor or tAioelof ot toil
i*86
12/4
GRAY PHARMACY
-
*■
\
422-8331
400© 0A8TM RD.
2306 N. Alexander
■MMmcnHB Rant
422-1221
1
1
f*i
—
a
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Brown, Leon. The Baytown Sun (Baytown, Tex.), Vol. 64, No. 77, Ed. 1 Thursday, January 30, 1986, newspaper, January 30, 1986; Baytown, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1154524/m1/3/: accessed July 6, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Sterling Municipal Library.