Brownwood Bulletin (Brownwood, Tex.), Vol. 79, No. 17, Ed. 1 Thursday, November 2, 1978 Page: 1 of 22
twenty two pages : ill. ; page 21 x 15 in. Digitized from 35 mm. microfilm.View a full description of this newspaper.
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Krueger-Tower
Strange reasons
Shooting general
ILD)
in area football
jabs sharper
—10 years later
for applauding
=
Page IB
Page 7A
Page IOA
Brownwood Bulletin
Twenty-Two Pages Today
Two Sections
November 2, 1978
Good, bad news
for economists
1 .
Dollar rebounds, prices surge
level was about $1.9860 to the
throughout the economy.
$
h
«
The actions ultimately could pound, compared to Wednes-
L * s
rise in September.
ropean currency, and gold bull-
cent, the administration had
In London, rates fluctuated which translates to an annual
(BulletiPhoto by Evan Gale)
inside
Berry’s World............
Lifestyles...........10-11A
CB Con vac
«B
i
real problem in that it is vir-
nment, they will be voting for or homestead exeptions.
<
sharing a message that has
activities.
\
state’s citizens won’t receive the full automobiles, television
Exemptions. The
K
•til
-----
-rpa
ll
KAD
the Celebration.
(Bulletin Photo by Evan Gale)
and outside of an eye problem three years ago.
4
d
(.
»
Thursday
CENTRAL TEXAS SUNSET — Sllouetted
against n staking sun, this cow grazes calmly
«A
2A.
daughter, and on his right to son Charles Reese of Brownwood.
His six sons and daughters plan to be in Brownwood today for
Astro Graph.
Amusements
Erma Bomheck
in Washington.
It’s Possible....
BROWNWOOD AREA — Fair, warm and partly cloudy
with a slight chance of showers in the area by late Friday.
Maximum temperature Friday 80, overnight low near 55.
Maximum temperature here Wednesday 81, overnight low
50. Sunset today 5:46, sunrise Friday 6:55.
been counting on price gains to rapidly, but the mid-morning rate of more than 10 perrent
ease by the end of 1878. But the
October increase, if averaged
MANY HAPPY RETURNS - One hundred years-old today, C.
S. Reese of Brownwood, center. sits with two of his children. On
the left to Welcome Denham of Jacksonville, Fla., his youngest
WASHINGTON (AP) — The make it harder to buy a house. day’s clone of 82.61. London gold
dollar continued to rebound Savings institutions will find it prices, which closed at $225 an
by a 1.7 percent jump in whole- ment, the dollar rose dramati-
sale food prices, equaling the cally against every major Eu-
Classified.
Comics...
Dear Abby
Deaths....
ounce Wednesday, opened
today at $219.50, but were back
up to 8222.875 by mid-morning.
Early dollar rates today on
University predicted overall
wholesale figures for October
would at least equal the Sep-
tember rise of 0.9 percent,
ta a pastured northeast of Brownwood of U A
Highway 277.
16A
5B
5B
7-9B
..SA
SB
.2A
dollar had closed at 178.80 yen
Wednesday, soared to 188 at the
opening of the foreign exchange
market, then slipped to close at
186.025 on the first day of
trading there since Carter’s
announcement.
The president’s dollar rescue
plan includes higher interest
rates, the borrowing of $30 bil-
lion in foreign currencies and an
increase in U.S. gold sales.
The Federal Reserve Board’s
interest rate for loans it makes
to member banks was boosted
by a nearly unprecedented one
percentage point, to a record 9.5
percent, meaning that higher
Interest rates are in store
member of the "Godspell" cast
agrees with his director.
“I have had my thrill in every
production that Howard Payne
With inflation running at an ion prices fell as demand for
annual rate of nearly 10 per- dollars rose.
Sheep and Goat
Sports.........
Stock Market..
Television.....
Weather......
1978
9c
MICHAEL DOAN
Associated Press Writer
)9
978
58
59
1
See photo, Page 2A
See review, Page SB
*******
AK I
$9
4 1978:
>3.89 ■;
..10B
. 1-2B
...2A
,.6B
...U
strongly on world markets to- harder to attract deposits be-
day in response to President cause other investments will
Carter's crash program to stem pay more interest That means
its rapid loss of value overseas, less money available for mort-
But the administration's satis- gages and higher rates for those
K
IS
s
•c
>9«o—a
d at the
1 city the
ercent
s followed
wholesale
-orange
reased in
increased
tea drops
! because
C
en
WEATHER
Page 4A
k
ID
>M
t, 1978
11.09
95
1,1978
77c
ET 1
n
4 1978:
'9c ea I':
faction was tempered by dis- that are
appointing news in the fight government moves also should showed similar gains,
against inflation. make it easer to travel overseas ________
Wholesale prices — a harbi- because, as the value of the The Agriculture DepnrUiiNU
nger of future retail costs - dollar increases, your money reported Tuesday that prices
leaped by 0.8 percent in October buys more in foreign countries. farmers get for their products
for the second consecutive in Europe, continuing sharp rose 1 percent in October — an
month, the Labor Department gains that began Wednesday annual rate of 12 percent And
reported. The advance was led soon after Carter’s announce- economists at Georgia State
35
1978
19c
available. The other European markets
Brownwood, Texes 76801
has done," he said, "but.
"A religious musical by been taught to me since I was a
Stephen Schwartz, "Godspell" child. I feel that "Godspell" will
lovingly depicts the life of long be remembered and
Christ as told in the Gospel of considered one of Howard
Matthew from the time of Payne’s best productions,”
Jesus’ baptism through the Johnson said.
Crucifixion and resurrection," Other members of the cast
according to Dr. Moselle (See GODSPELL oa Page 2A)
Pancakes to flip
at coliseum today
Hungry for pancakes?
Well there’s still time to fill gp .
already overburdened additional exemption. soforth. on pancakes and all the trim-
homeowners would receive a —Tax Relief for Agricultural A "For” vote would remove mings. The annual Brownwood
major tax break by a “For" Land. A “For” vote would personal property from Kiwanis Pancake Supper
vote which would give them a provide taxation of farm and taxation which many people begins at 5 p.m. today at the
mandated 85.000 homestead ranch land on the basis of feel would also remove an in- Brownwood Coliseum,
exemption for school tax pur- productivity, not taxation based vasion of their privacy and Tickets will be available at
poses. Homeowners who are on speculative market values provide a form of tax relief that the door, and cost 81-25 each,
over 65 or who are disabled, thus providing a relief to the will help the average citizen The proceeds from the supper
could be provided an additional state's financially troubled far- most. A “Fori' vote would also will be donated to several
homestead exemption for mers and ranchers. nullify a number of lawsuits Kiwanis youth activities.
school tax purposes of up to On the “Against” side, tim- filed in various school and other This year’s pancake chair- 5
810,000 market valu of their berland could also be taxed on (See BALLOT on Page 2A) man is Buri Brown.
nine amendments. average homeowner. The tax On the “Against" side of this
The Tax Relief Amendment saving from the 85,000 portion of the bill would be the
This amendment has perhaps homestead exemption is elimination of intangibles from
received more discussion and estimated at only about $30 per the tax base, the intangibles
publicity than all other eight year on a 340,000 home based on wealth of citizens and cor-
amendments combined, a 60 percent assessment ratio porations off of tax rolls.
The amendment consists of and a 81 per 8100 school tax —Taxation of Personal
several separate sub-areas Also, the disability Property. The present Con-
which should be discussed in- homestead exemption is tied to stitution provides 8250 exemption
dividually in order to better un- qualification under the federal only in the case of “household
derstand the complete amend- Old-Age, Survivors and and kitchen furniture." All the
ment. Disability Insurance program rest of one’s personal property
—Residential Homestead and many of the state’s disabled is taxable including
At 100, Reese lives like 70
By HARRIETTE GRAVES and a slow walk, one would Rev. Reese said he was led to in the county."
Bulletin Staff Writer never suspect that he has seen the ministry in 1900 when he He accepted pastorates from
Now that he has reached 100, 180 summers worked in a general store and several churches through the
he plans to stow down a bit He attributes his long life to a post office in Denton, Ala years. At one time he occupied a
The Rev. C. S. Reese of strong belief in God, an op- His sound belief in God and a pulpit that covered a territory
Brownwood has reached the timistic view of life and challenge to devote his life to from South of Ballinger to
century mark today. And to physically active years. the ministry entered into his Winchell. He preached to four
celebrate the occasion with him Although he hasn’t led too decision to fill a need he saw in different churches each Sunday
will be most of his children and many revivals during the past the people around Mm. He was and went by horse and buggy
a 90-year-old sister from decade, he remained available licensed to preach June 8, 1800 from one to another.
Georgia. to supply the pulpit at Central and his first appointment waa at He recalled a Dr. P. C.
The retired Methodist United Methodist Church where Bluff Spring, Ala. Ragsdale of Brownwood, an
minister loAx more like 70 than he belongs when the minister It was a country church but as optometrist in Brownwood who
IN. His mind is sharp and alert was away. He did this up until he described it, “a sizable one used to travel with Mm to each
Microfiln Center Inc.
P. Box 45436
Dallas, Texaa 752,5
12 xpires 1/25/79
/
out over an entire year, would __
be about 11 percent Wholesale aE—ugU ____
ceheesnagteronhanensesome VOdSpel opens
month in 1877.
In New York, the stock ex- ■ e ■ m amme
chansgcontiyrsdarngpsnerin tonight at Mims
reacted to the prodollar moves
with the largest single day gain University Newsservice Sherman, director.
in s s.ststory Wednesday. That “It’s not just another musical. “The music of “Godspelr” to
day, the Dow Jones industrial It is a ministry!” says Cari taken from many familiar
average rose 35.34 points to williams, member of the cast of hymns and text from the
close at 827.78. __ “Godspell,” wMch opens Bible," she said, “so audiences
InTokyo,.meanwhile,thedoh tonight at 8 of all ages should enjoy it"
lar soared by more than 4 per- at Howard Payne University. Cecil Johnson, another
cent over the Japanese yen. The *******
and one of the biggest churches (See REESE oa Page2AI
Productions of "Godspell" believe me, none can compare
and the short comic opera "The with "Godspell."
Impresario" are scheduled “Godspell” to me to not just a
today through Sunday as part of production, but a way of
the university's homecoming reaching out to people and
against a series of amendments The Legislature has set aside tually impossible to locate and
to the Texas Constitution. 8450 million to use in relief to assess tax on intangible proper-
There are nine amendments school districts during the next ty on an equal and uniform
in all. However, only the last biennium. Use of state “sur- basis.
eight to appear on the bottom of plus” money insures that local Taxation of intangibles has
the ballot are numbered 1 tax relief granted bythe—been largely ignored except in
through 8. The first amend- homestead exemption will be the case of those easily located,
ment. House Joint Resolution paid by state dollars, not by such as bank stock and railroad
No. 1, is titled, “The Tax Relief local school tax dollars, rolling stock wMch, under
Amendment,” on the Nov. 7 On the “Against” side of this existing statutes, will continue
General Election ballot form, portion of the Tax Relief Amen- to be taxed.
This is the first in a series of dment is that it doesn’t provide A “For” vote will remove in-
articles discussing each of the significant tax relief for the tangibles from the tax rolls.
Volume 79 No. 17
---------- —
Shootouts loom
15" Daily 35'Sunday
ONE OF NINE AMENDMENTS
Tax relief on ballot
By LASH LASHBROOK homes. , its productivity and it is doubt-
Bulletin Staff Writer A major provision of the ful that the timber industry
When Texas voters go to the homestead exemption section is needs this tax break.
polls in the general election that the Texas Legislature —Taxation of Intangible
next Tuesday, they will not only protects the school districts, Property. The present state
be voting for national, state and through various formulas, by Constitution requires all
local candidates to represent replacing all or part of the property be taxed in proportion
them at various levels of gover- revenues lost them through the to its value. This creates a very
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Deason, Gene. Brownwood Bulletin (Brownwood, Tex.), Vol. 79, No. 17, Ed. 1 Thursday, November 2, 1978, newspaper, November 2, 1978; Brownwood, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1573525/m1/1/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Brownwood Public Library.