Brownwood Bulletin (Brownwood, Tex.), Vol. 79, No. 265, Ed. 1 Sunday, August 19, 1979 Page: 8 of 44
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BROWNWOOD BULLETIN
Sunday. Auvat 19, 1979
t
Cl
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Business, Financial News
BUSINESS NOTEBOOK
A
k
higher accident rates.
1
Volcker's inflation war
DIANE'S
FLOOR COV
3
I
643-1152
,1
24011st St
SIMS
Tylenol
PreSun Sunstick
$157
100’s
Myadec
39
’5
STS.
21 Oz
130’s
ca Agreements.
Mali
I
5% Seven Dust
A
S-eflmme
4
$250
Ekl
I
Keri Lotion
- \
$329
130z
28‘s
Lotion
$4219
N
#
2.6 40z
sa
Triaminicin
N
At
67$
68
GIBSON’S|
12‘s
/
Tiaminiciri Tablets
Wse
COMMERCE SQUARE
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Amt
MM,
^elamuc
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85
Pl
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Fructose
Tablets
Bra>
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DAN’S
SHOES
Keron
FOR
DR*
KIN
CARE
OPEN
9:30 til 6:00
Buster
Brown.
CARPET SPECIAL
TOPQUAUTY
SCULPTURED SHAG
100’s
Energ Source
Appetite Appeaser
Britt said it represented "a great
achlevement...particularly considering the
A
Sunday
EAR
$195
their compensated losses."
Martin’s division is working
with the US. Department of
labor to gather information on
first reports of injury, to get
more information on where and
why accidents are occurring
BRADI
Sept 4 wI
I
Indep-ndI
cording tl
Tatom. I
That dal
day for re
Teachet
nesday, A
in-service
Saturday!
New tea
include N
Easterwos
Danny V
dleton, J
Tallent,
Karen Rd
Pelizzari,
Stewart, 1
Sylvia Bre
EARLI
school I
I
under I
I
service tl
Tuesday I
work da
Thur-da
Student!
the two J
will begin
cording tJ
by Beard.
High so
King sal
seniors a
Wednesda
Worker's comp mystery
the SBI
TOP:
GIRLS SHOES
8%-4
B C D Widths
Rust. Blue Suede leather
Rust and Blue Suede Leather
8178518
BOTTOM:
BOYS SHOES
8%-4
C D Widths
Ton Suede leather
W 130 Day
V Vitamin
Supply
Duster Drown makes
a great playmate...
with sure-to-fit
school shoes
built to take
non-stop
fun.
We Sell:
Adders, Calculators, Typewriters,
Duplicators Copiers.
We Have Available:
Financing, Leasing, Rental A
JERRY SIMS A KEN MAKUTA
Invite you to come by or call
646-9140
DIANE HOLLAND
646-2529
WALDROP CONSTRUCTION
WEEKDAYS
Mrs. George T. Needham
Teacher of Voice A Piano
Member of National Guild •< Piano teachers, Texas
Federation Music club * Brownwood District Music
Teachers Association.
----
s*--
*, t.af‘
Dexamine Diet
Plan Capsules
$799
OFFICE MACHINES, INC.
P.0.BOX1or2215FSKST.
BROWNWOOO, HXAS 76»01
average still posted a strong average.
■SKras. E
change composite index mean- first signaled Wednesday when
while, rose 1.06 to 61.70 during the Fed moved to raise the tar-
theweek. . .. . _ get rate on federal funds to
On the American Stock Ex- 2 -0
change, the market value index about.11 percent.from ear ler
rose 8.59 to close at 211.00 Fri- levelSof around 10%. Laterin
day, extending its recent series the week the Fed followed
of record highs. through with an announced in-
Big Board volume also crease in the discount rate -
reached a high for the year, re- the rate at which banks borrow
fleeting continued heavy buying
by big institutions. It averaged from the Fed — to a record 10%
42.53 million shares a day, up percent, up -point from its
from last week’s 33.09 million earlier rate.
There al
magnetic I
This would!
vious coned
ous radial
Mars The
field would
of Mars to
radiation a
intense as t
spurs stock market on
We Service Most AN:
AddaraCalcvoprs.Txawptor,
Mimeograph Machines.
Flinstone's
L 100 + 30 Free
Metamucil
$467
•003 "T
U-Val Sunscreen
<-=-
2 IEN0L
$110
4Lb. A
By KRISTIN GOFF
AP Buslness Writer
NEW YORK (AP) - The re-
cent surge in stock prices is re-
ferred to as the “Volcker rally,”
by many Wall Streeters these
days.
The name refers to Paul A.
Volcker, a conservative whose
nomination as the new chair-
man of the Federal Reserve
Board has given a lift to the
market in recent weeks.
Although there is dis-
agreement over how long it may
last, analysts say the market’s
march to new highs for the year
last week reflects Wall Street’s
assessment of the new Fed
chairman.
Since Volcker’s nomination
July 25, the Dow Jones average
of 30 industrial stocks has
climbed 53 pointe amid signs of
heavy investing by big in-
stitutions.
This past week proved to be a
significant one for Volcker
watchers, whose hopes have
been pinned on a tough inflation
fight by the new Fed chief.
Volcker, in the driver’s seat
for the first time at the Fed’s
monthly policy-setting meeting
on Tuesday, emerged with a re-
newed clamp-down on credit
markets and signaled a appar-
ent willingness to risk a worse
economic downturn in order to
slow double-digit inflation.
The stock market showed its
approval with a rally marking
the heaviest trading of the year
and a 1979 peak close for the
Dow industrial index. The 30-
stock index rose 9.13 points
Wednesday and closed at 885.84,
its highest level since last Oct.
13 when it finished at 897.09.
While the strong advance
faded somewhat later in the
week, the Dow Jones industrial
The Office of the Consumer business activity in the state
Credit Commissioner and the can be gained from the report of
State Board of Insurance are First Main Capital Corp.,
engaged in discussions on Dallas, that there was 110
transfer of regulation of in merzrstransortinsnaTexwin
guranasespromiuneolnenc ,2.5.
Ss
Myadec
That shift is being made
under new legislation, which
takes effect Jan 1, but which
provides for the approximately
375 licenses (of which there are
25-30 large companies) to pay
-We want to direct any future their fees for IBM to the SBI,
(safety) standards to the areas Leginning Nov. 1.
where they're needed," he says. SBI has not determined
Two areas were he feels at- exactly where the responsibility
tention may be directed are for the premium finance
elevators along with carnival companies will be placed within
theagencv. _____
Texas now has 231,000 active
Rogular‘15"Yd.
AUGUST ONLY
$998 _____
MWAMIVING MWCAIHT
AND UNOLEUM SAMPLES
results were accumulated.” Themiion
mile* were driven over a six-year period, and
Bright estimated there had been • M percent
turnover in personnel during that time la the
so-member work group.
AWARD-Members of the General
Telephone'* western area COE constructlon
group were cited recently for having driven
one million mile* without a loot time ae-
cident. General Telephone Company of the
Southwest President R.W. Britt, left,
presents a plaque recognizing the
achievement to John Bright, western area
COE construction supervisor, Brownwood.
ByBILLKIDD Martin notes that the division
Bulletin Austin lbw— can't conduct inspections for all
AUSTIN - Despite the fact the 2M,00-plus employers in the
that they pay over $.1 billton state, and has • twoto three-
annually for worker'! com- month backlog of requests
pensation coverage, Texas But the agency is conducting
employers often are unaware of some check*, and is discovering
what they're paying for, or how some surprises, he reports
to not pay 00 much "Ooe of the amazing things
Such to the conclusion of that we are finding out," martin
Walter Martin, head of the says, "is that many of the
occupational safety division of smaller employers don't really
the State Department of Health know what worker 's com-
That division conducts in- pensation to . , or that the and amusement park rides,
sepction service* to help em- amount they pay is affected by Texas, he notes, has no
ployer* who are "debit rated" their losses . " statewide program of elevator corporations operationg within
- charged an additional "The whole situation.” he inspections, leaving it up to its boundaries, the Secretary of
amount of worker’s com- adds, “is alarming ” cities to require any safety State 's office reoorts.
nensation Dremiums because “We find some employers are inspections - and some don't. ..
Hw4r Uwe evvwrtonce is we paying a great deal of money There are, Martin says, some During the approximately
than the statewide average for for losses on the job, but they’ve elevators which have been three months ending Aug .2,
similar establshments - solve done utue to prevent losses - installed for over 50 years, with another 6,000 domestic profit-
the problems which lead to their and they’re not aware that they no history of ever having been making .corporations were
can save money by reducing inspected. chartered in the state, along
"Look for a safety sticker the with 700 non-profit cor;
next time you're on one," he porations, 220 professional
suggests Texas is one of the corporations, and 260
few states - perhaps the only professional associations.
state — without such a Another 530 foreign, profit-
requirement, he reports making corporations were
Martin also expresses con- registered during the same
cern over the lack of standards period.
for carnival and amusement Of the 231,000 corporations,
park rides, saying, "anybody approximately 160,000 are
can put up anything they want domestic profit-making entitis,
to, with no inspection at all," the office says.
_____ Another indication of
{
Foq. B A
Area leaders
to PCA meet
COLEMAN-Coleman
Production Credit Association
directors joined other
agricultural leaders in San
Antonio Friday for the annual
PCA Director*’ Conference
Coleman PCA participants
include Chairman Wade Carter,
Ballinger; Vice Chairman
Harold Price, Eden; Joseph
Montgomery, Abilene; Willard
Perkins, Brownwood; and
Lowell Johnson, Ovalo.
According to Charles Hick,
man, PCA president who will
accompany the group, the
conference is designed to bring
PCA directors up-to-date on
services provided to PCA* by
the Federal Inttrmedaite
Credit Bank of Houston, source
of most PCA loan funds.
Discussion leader is Jack H.
Barton, the Credit Bank’s
president, Also scheduled on the
program is Ernest T Baugh-
man. Federal Reserve Bank of
Dallas president. His topic
deals with the economy and
interest rates.
Coleman PCA has farmer-
rancher members in Brown,
Callahan, Coleman, Concho,
Runnels and Taylor counties
and loans outstanding totaling
more than >13.8 million._______
o
r
f
RCA Corp,
buys C. I. T.
NEW YORK (AP)-Giant
RCA Corp. says it is buying
up the C.I.T. Financial Corp,
for $1.35 billion - one of the
largest mergers in U.S.
business history.
The tentative agreement
Friday between the two
companies was reached just
four days after negotiations
resumed following a month-
long estrangement ap-
parently caused by dis-
agreement over a price.
Under terms of the
preliminary agreement,
RCA would pay cash for 49
percent of C.I.T.’s shares
and offer a package of
securities for the rest.
Before the merger becomes
final, a definitive agreement
must be drawn up and ap-
proved by the boards and
stockholders at each com-
pany and various govern-
ment agencies.
“We are pleased at the
prospect of uniting with one
of the nation's leading
financial services con-
cerns,” said Edgar H.
Griffiths, president of RCA,
whose wide-ranging
operations include the
National Broadcasting Co.
and Hertz Rent-A-Car.
In its announcement of the
merger, RCA did not say
what role C.I.T. Chairman
Walter S. Holmes Jr. would
have in the combined
company beyond an in-
vitation by Griffiths to
Holmes to sit on the RCA
board and a statement that
C.I.T.’s management
probably wouldn’t change.
But sources close to the
talks have said Holmes
might be given a high
executive position at RCA,
possibly even the vacant post
of chairman.
/
Discount Pharmacy
Prescription Delivery
PCS VISA M.C.
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Deason, Gene. Brownwood Bulletin (Brownwood, Tex.), Vol. 79, No. 265, Ed. 1 Sunday, August 19, 1979, newspaper, August 19, 1979; Brownwood, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1573748/m1/8/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Brownwood Public Library.