The Hopkins County Echo (Sulphur Springs, Tex.), Vol. 119, No. 8, Ed. 1 Friday, February 25, 1994 Page: 4 of 4
four pages : ill. ; page 22 x 13 in. Digitized from 35 mm. microfilm.View a full description of this newspaper.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
Financial institutions post solid year
By BRUCE ALSOBROOK
Mews- Telegram Staff
4-THE HOPKINS COUNTY ECHO, Sulphur Springs, Texas, Friday, February 25,1994
SSL&B reports
earning, elects
.ts officers
At the January board of directors
meeting of Sulphur Springs Loan and
Building Association. President C
Glynn Lowe reported record earnings
for 1993. He stated that 1994 was
expected to be another profitable year.
Officers elected at the meeting
included: C. Glynn Lowe, chairman
of the board, president and CEO;
Daniel M. Phillips, senior vice presi-
dent; Norma Mcjllwain. vice presi-
dent and treasurer; Linda Galligher.
vice president and secretary: Dav id
McCollam, vice president and
comptroller; Deanna Landers, vice
president and manager of secondary
market department; Betsy Schaeffer,
vice president; Bennie Connelly, v ice
president and branch manager; John
Freeman, vice president and branch
manager. Leigh Taylor, vice presi-
dent; Geri Banks, asst, vice president;
Joyce Allen, asst, secretary; Jalane
Edwards, asst, secretary ; Anita Pen-
nington. financial officer; and Martha
Chitsey, asst, treasurer.
Last year was a very good one for
Sulphur Springs' five major financial
institutions, according to local bank-
ing officials, w ith sev eral bank offi-
cials pointing to an improving econ-
omy as a harbinger of more good
times.
Earnings increased at all five banks
in the fourth quarter of 1993, capping
off solid performances.
At the end of 1993. deposits in the
five area banks totaled $502 million,
assets reached $547 million, and
loans of $248 million were reported.
Two of the institutions expanded
their operations during the year. One
bank reversed a downward trend,
while another continued to solidify
its standing as a rising star.
Sulphur Springs State Bank added
two locations in 1993 after assuming
the deposits of Wolfe City National
Bank, bringing the total number of
locations for Sulphur Springs State
Bank to five.
That, added with
a jump in capital
from $16.44 mil-
lion to $17.96
million, capped
off a fine year
for the bank.
"We had a fine
earnings year,
especially con-
sidering the
acquisition of
the failed institu-
tion," said James Law, vice president
and financial officer at the bank.
The same could be said for Sul-
phur Springs Loan and Building,
according to Vice President Linda
Gallagher.
"We had a very good year, and
we re looking forward to 1994,” she
said.
While the local lender’s deposits,
assets and loans were down slightly
after the third quarter, earnings were
the second highest of the five banks.
BANK
DEPOSITS
ASSETS
LOANS
State Bank
$225,352,000
$244,274,000
$88,045,000
City National
$88,607,000
$96,742,000
$60,695,000
1st National
$35,001,000
$38,022,000
$19,705,000
1st American
$47,045,000
$51,196,000
$24,105,000
SSL&B
$106,405,000
$116,840,000
$55,088,123
News-Telegram Graphic
Lee Teetes, president of City
National Bank, was “pretty excited"
about the developments of the past
year.
"We opened our second branch
bank, this time in Winnsboro. almost
four years to the date of when we
opened a branch on South Broadway
here in town, which was a milestone
for us, and we’ve been pleased with
that facility," Teetes said.
While the new branch opened the
doors for new customers in Wood
County, Teetes added that it makes
life a little easier
for some of the
bank's existing
depositors.
"We have a lot
of customers
that actually live
in the southeast-
ern part of the
county, so
they're actually
sometimes phys-
ically closer to
that facility than
to Sulphur Springs, so it makes it
convenient for existing customers as
well." he said.
Meanwhile. First National Bank
reported increases in deposits, loans
and assets for the third consecutive
quarter since Bob West took over as
president.
"We had an excellent year,” said
West.
"Probably more than anything it
was because the economy of Sulphur
Springs was somewhat better."
No bank in the area has experi-
enced as dramatic a growth in the last
three years, however, than First
American Bank and Mortgage Co.,
which has doubled deposits, assets
and loans since the first quarter of
1991. Bank President Rick Palmer
expects more of the same in 1994.
“I would say that 1993 for all the
institutions was a good year, and it
showed substantial improvements in
the economy, and it looks like here in
the second month of 1994 that the
prospects for economic growth in
this area look to be brighter than I’ve
seen in several years,” he said.
“It appears that retail sales are
increasing and building starts are
back. Our customers are now talking
about projects and investments and a
lot of activity in the commercial sec-
tor. which is encouraging." he added.
"It looks like the trend is a steady
slow growth, and I like that. I believe
our little community is enjoying a
pretty sound and stable economy
right now."
GSC Enterprises to
form new division
Michael K. McKenzie. chairman of
the board and chief executive officer
of GSC Enterprises Inc., has
announced that the firm is establish-
ing a new division. Grocery Supply
Co. - International.
Jim Davis, formerly president of
Grocery Supply Co. - San Antonio,
will be president of GSC - Interna-
tional and will office at 719 S. Santa
Rosa, San Antonio, Texas 78204.
McKenzie said, "The primary
responsibility of GSC - International
will be to increase our export business
to Mexico, Latin America and other
export markets. We believe that the
passage of NAFTA provides us with
an opportunity to increase our trade
with Mexico dramatically in the next
few years. We have always been
active in exporting food products to
Mexico, and w e want to ensure that
we are positioned to take ol advan-
tage of the increasing opportunities
that will arise '
' We have been very active in the
export business in San Antonio for
some time, but this new structure will
allow us to devote additional
resources to NAFTA and Mexico."
Davis said.
"With our acquisition in El Paso
and our presence in South Texas, we
should be able to increase our pres-
ence substantially."
Gary Gresham has been named to
succeed Davis as president of Gro-
cery Supply Co. - San Antonio. Gary
was previously executive vice presi-
dent of Grocery Supply Co. - San
Antonio and has been with the com-
pany for more than 20 years.
Stall Photo By John Conrad
Ribbon cutting
A grand re-opening was held recently for Antiques On Parade at its new
location at 300 Connally. Pictured above, from the left, are: Melodie King,
Don Tiegiser, Richard Holmes, owners Johnny and Murray Froneberger,
Joyce Burchfield, Tony Cook and James Nelson.
Club News
United Daughters
of the Confederacy
The Charles Buchanan Harris
Chapter 2531, United Daughters of
the Confederacy, met Saturday, Feb.
IS in the home of Mrs. Lester Floyd
with 18 members and guests pre-
sent.
Florene Adams, vice president,
called the meeting to order.
The ritualistic opening was led by
Mrs. Frat Davis, District VIII chair-
man.
The pledge of allegiance to the
flag of the United States was led by
Jocelyn Campbell, the salute to the
Texas flag was led by Marilyn
Bolding, and the salute to the Con-
federate flag was led by Lynna
Miller.
The minutes of the two previous
meetings were approved as read.
A letter was read from the Veter-
ans Hospital in Bonham thanking
the chapter for the gift of $50 sent
to the Veterans to help with their
Christmas.
Reading material, consisting of
20 books and 50 magazines, was
also donated to the hospital library.
Twenty gifts were reported deliv-
ered to Veterans in local nursing
homes.
Mrs. Adams introduced Mr. and
Mrs. Charles Bolding who present-
ed the program. They related their
experiences last April in Santa Fe.
N.M.. as they attended the historic
reburial of 30 Confederate soldiers,
many of whom were Texans. The
soldiers died in the battle of Giori-
etta Pass in March 1862.
Mr. Bolding served as a pallbear-
er and Mrs. Bolding sprinkled sand
from Texas and placed bluebonnets
on the caskets as they were lowered
into the ground. The purpose of the
weekend was to rebury the soldiers
with some level of dignity and
grace.
The bodies had been in an
unmarked mass grave until they
were discovered just a few years
ago by a contractor who was
preparing to build a house. The cas-
kets and one vault were carried on
wagons to the National Cemetery
about three miles from Santa Fe,
New Mexico.
The only vehicles used in the pro-
cession were wagons and buggies.
The re-enacting soldiers marched
carrying their rifles upside dow n in
honor of the departed soldiers.
Representatives were present
from as far away as California,
Florida and Canada. President Clin-
ton sent someone from Washington.
D.C. to represent him. The stale of
Louisiana sent a large Confederate
Flag made of fresh flowers Mrs.
Robert Davis of Houston, president
of the Texas Division. United
Daughters of the Confederacy, look
part in the dedication ceremony.
Mr. and Mrs. Bolding were
dressed in costume. He wore a
replica of a Confederate soldier's
uniform and she wore an emerald
green brocade silk dress with a
hoop skirt, a black hat with a huge
ostrich feather, black lace gloves
and a black velvet bag.
Following the program, the group
was invited into the dining room for
refreshments of punch, sandwiches,
cookies, nuts and candy. A cro-
cheted lace cloth, over red. covered
the dining table which was centered
with an arrangement of red and
white flowers. Valentine's Day
decorations were used.
Hostesses were Sue Floyd. Marge
Morrison, Frances Davis and Hazel
Sewell. *
Community News
Reports By Our Area Columnists
REILLY SPRINGS
By FAlie Swindell_
Charles Gilbert Jr. is in Gatesville where he is
training to become a prison guard. Following the
training session he will be located at Belville.
Jo Wallace left Friday for a visit to Portland,
Ark., with her family. Accompanying her were
her daughter, Debbie Hale of Dallas, and her sis-
ter, Chris Mhoon of New Mexico. While they are
there they will celebrate her mother Geraldine
Parkerson’s 89th birthday.
Vera Harrington spent Saturday night with her
daughter, Mary and Larry Burns, and daughter,
Elizabeth Marie of Waxahachie.
Joe and Judy Dalzell were business visitors in
Dallas this weekend.
Following the Ash Wednesday service at the
Reilly Springs United Methodist Church, a sur-
prise birthday party was given for John McNeil.
Those attending were Juanita and Paul Hudson,
Myra Bums, Joe and Judy Dalzell, Ellie Swindell,
Terry and Nancy Tomlinson and daughter Micha-
la. Gena Kelly, Scott Price, Margaret Stahl and
sons Jacob and Justin, Margil Peek and grand-
daughter, Sarah Jackson, Polly McKay and Vera
Harrington.
Mitch and Lesa Cady of Las Vegas, Nev.,
announce the birth of a son, Alexander He is the
grandson of Lonnie and Tommie Jo Tennison of
Colorado Springs, Colo., and the great-grandson
of John D. and Polly McKay of Reilly Springs.
The Hopkins County Co-operative Parish-
Council will meet at 7 p.m. Wednesday at the
Reilly Springs United Methodist Church fellow-
ship hall, and the Lay Teaching Committee will
meet at 6:30 p.m. Officers for the 1994 year will
be elected for the council.
Mary and Lowell Cable have a granddaughter
born last week to Mr. and Mrs. Chad Cable of
Sulphur Springs. The young lady has been named
Grade French. Lowell and Mary also had as
guests this weekend their son. Day. and his wife
of Austin.
Gary and Myra Burns spent a few days in
Vicksburg, Miss., while she was on vacation from
First American Bank.
Charlsea Thornton of Joshua is the guest of her
grandparents.'Margie and Ronnie Peek, this week.
Janie McLarry, Luvena Owens, Melissa McLar-
ry and son Jordan were in Corsicana last week to
visit Peggy Smith and husband, and they all then
went to Houston where they visited Barbara and ;
Leland McKinney and son. David, and Stephanie ;
attending the National Conference Competition at
Nashville, Tenn.
Public school week will be held March 4 with
(he annual slew and open house. Attendants are
asked to bring a dessert and one dish, their own
bowl and spoon. Glasses will be supplied by the
school for drinks.
Dreunella Young spent a week with her brother,
John, and wife. Doreen.
Ten members of the Dike Baptist Church
attended the Rehoboth Womens Retreat at Lake-
view Church Assembly at Lone Star Friday and
Saturday.
A granddaughter of Ralph and Mary Vance was
in the community last week visiting relatives, but
wasn’t able to stay long because she had a call for
a musical session which took her home without
delay.
Bill and Evelyn Ault visited the Vances last
week bringing doughnuts and coffee.
Claudie and Lutie Patterson were back in the
and Brian Fisher.
Robert Mason of Sulphur Springs was (he guest j Methodist Church Sunday after an absence of a
speaker at the Reilly Springs Baptist Church Sun- ; fevv Sundays. It is always good to see them,
day night and also presented special music. j joe parales gave a reading at the Methodist
The monthly supper at the United Methodist j Church Sunday morning.
Church will be Saturday. March 26, at 6 p.m. at i_
the fellowship hall.
The quilters hosted a luncheon at the communi-
ty center last Tuesday. Visitors for the luncheon
were Nell Furney and Betty Story from Sulphur j
Springs. Nell Ryzak of Dallas, Nell McAfee of
NORTH HOPKINS
By Verda Withrow
Funeral services were held for Bob Cooper, 69,
in Fairfield on Wednesday. He was married to
Yantis"and Susie Crabtree of Martin Springs’The i Judy Lindbergh. Those to attend the funeral were
friendship quilt was won by Betty Crabtree of I Gay and Ruby Weir and several other cousins.
Louisiana. ~ Marsha Jones, daughter of Verna Mae Posey
’_j Jones and granddaughter of Myrtis Posey, will be
SULPHUR BLUFF i on I he program Jeopardy on March 24.
By Mary Vance J-B. and lm<>gene Williams visited J.B.’s
-T-; nephew and family of Orange last weekend.
Oren and Wanda Singleton, Bonnie Chester and j Lavern Gregg Scoville had surgery on Friday
Nada Crouch attended a stated meeting Feb. 15 at j for a broken hip and injured ankle.
Quinlan OES Chapter. Jack and Margie Webb spent Sunday with her
Saturday, Feb. 26 at 7 p.m. Sulphur Bluff OES j sister, Irene Watsen, of Paris.
Chapter 246 will hold an honor’s meeting for the | Floyd and Linda Lawson spent the weekend in
Masoris. A program will be presented and a meal j Dallas visiting Roy and Janie Jones,
will be served. Eddie and Ruby Gray and Weymond and
A fund-raising stew for the Beta Club will be ; Shirley Gray spent the weekend in Lafayette, La.
held at the community center Sunday, Feb. 27, at i The Tira Community Center has purchased new
II a m. for helping on the expenses for those : tables and chairs. They were delivered last Friday.
Lone Star Gas adds
telephone numbers
To make it easier for Lone Star Gas
Co. customers to conduct business
with the company, additional tele-
phone numbers have been added.
Customers wishing to conduct rou-
tine business should call 1-800-460-
3030. In the event of a gas leak or
damaged gas lines, customers should
call 1-800-817-8090.
Mock trial debate team wins first place
Sulphur Springs High School’s
mock trial debate team recently
placed first at the regional mock
trial meet held Saturday at the
Titus County Courthouse in Mount
Pleasant.
ton High School debate team. Jack Massey,
sends the SSHS team to state com- Witnesses inciude Brandon Re-
petition on Friday, March 18, and wicki, Kincade Park and Donna
Saturday, March 19 at the Crowley Tris. Kimberly Dial was timekeep-
Courthouse in Dallas. er.
Lawyers for the winning team Duane Galligher and Stephanie
The win, against the Como-Pick- are Nick Haigh. Jamie Collins and Irby will serve as alternates.
End in sight
Road improvements in city may be finished in March
By BRUCE ALSOBROOK
News-Telegram Staff
Road improvements on Heritage
Square and the South Broadway
Street overpass should hamper traffic
for about one more month, but both
projects will likely be completed in
March.
The same problems that delayed
improvements on the streets around
Heritage Square will impede replace-
ment of bricks in downtown parking
areas, said City Manager Olen Petty.
Unstable soil and a layer of 78-
year-old concrete below the streets of
downtown Sulphur Springs pushed
the $85,000 project to resurface the
area back about a week. City workers
had to treat the soil with lime and tear
out the old concrete before a concrete
roadway could be poured last week.
With warm weather speeding along
the process of curing the new road-
way, Petty said the traffic lanes will
likely be open to vehicles by Wednes-
day. Only one lane of traffic, howev-
er, will be open until the remainder of
the streets can be repaired.
“We’re going to have to do the
same thing in the parking areas as we
did to the roadway,” Petty said. “It
will probably take another month for
it to be completely finished."
Travel through the heart of the city
has continued unabated since work
began, albeit at a slower pace. Petty
said keeping one traffic lane open at
all times slows down the workers, but
it’s a necessary evil.
"You can’t cut traffic off of Connal-
ly Street and you can't cut it off of
Main.” he said. “Those folks up there
have to make a living.”
“Certainly, it lakes a lot longer to
do it this way than it normally would.
It slows us down letting vehicles
come through, but traffic is what this
is all about."
Petty estimated about one more
month would pass before the down-
town project is completed.
Robert Carpenter, state project
manager of the South Broadway
Street overpass expansion, said with
good weather the overpass will be
open in three weeks.
Contracting crews have completed
the center lanes that will expand the
bridge capacity from four to six lanes,
but sidewalks and railings must be
installed, and refurbishment of Shan-
non Road and Industrial Drive near
the bridge must be completed before
the new lanes can be opened.
Carpenter said regulations require
completing all the work before open-
ing the new lanes.
When completed, Carpenter said.
the roadway should speed up traffic
across the intersection. There will be
protected left turn lanes at both ends.
Traffic in the right hand lanes will be
able to go straight or right, and vehi-
cles in the center lanes will go
straight.
While the new lanes have looked
ready to drive on for several weeks.
Carpenter said it took 21 days for the
concrete to “cure.”
urn
r,m «*
31
irr»N?Bi
ROAD
f I n.SFD
Staff Photo By John Conrad
Roadway rehab
While local drivers, and those just passing through, have found city streets and interstates a little inconvenient,
there is good news ahead. Local officials expect work on Heritage Square and the Broadway Street overpass
to be finished soon, quite possibly in March.
!
Search Inside
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Newspaper.
Keys, Clarke & Lamb, Bill. The Hopkins County Echo (Sulphur Springs, Tex.), Vol. 119, No. 8, Ed. 1 Friday, February 25, 1994, newspaper, February 25, 1994; Sulphur Springs, Texas. (https://texashistory.unt.edu/ark:/67531/metapth780057/m1/4/: accessed July 10, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Hopkins County Genealogical Society.