Sulphur Springs News-Telegram (Sulphur Springs, Tex.), Vol. 111, No. 148, Ed. 1 Thursday, June 22, 1989 Page: 4 of 14
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-THE NEWS-TELEGRAM, Sulphur Spring*, Texas, Thursday, June 22,1989.
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K mart
Two-Year Weekly High-Low Range
Sears
Two-Year Weekly High-Low Range
WalMart
Two-Year Weekly rtgh-Low Range
fs
Business mirror
By JOHN CLNNIFF
AP Business A nalyst
NEW YORK (AP) — If you’re
still wondering what to get the June
graduate or the June bride, why not
consider a piece of the American
economy. It grows in value. It even
beats inflation.
Such a gift might put a premium
on smart stock selection, but the
chances are the appreciation ip
market value will beat that of the
toaster or vase or whatever other
gift you might have in mind.
There is a drawback right at the
start in that a brokerage fee might
be paid if the stock is purchased on
the open market. But once over that
hurdle the future of your gift is
pretty ftood.
If, for instance, you purchased
sound common stocks and held
them for five years from 1982
through 1986, you would have en-
joyed an annual return of nearly 20
percent, based on the Standard &
Poor’s 500-stock index.
If continued, that sort of return
can produce magic. A 20 percent
rate, for example, means you dou-
ble your money in less than four
years, a rate of return that almost
defies comprehension over a long
period of time.
Assume the investment is $100.
At the end of the first four-year per-
iod it is worth $200, and at the end
of the second period $400. At this
point, eight years have elapsed.
Should the rate of return be
maintained, which frankly is un-
likely, the original $100 becomes
$800 by the end of 12 years, and
$1,600 in 16 years. The magic of
compounding is at work.
After 20 years the original
amount is around $3,200 and, be-
cause money earned is causing
more money to be earned, the rate
of increase is accelerating. Now, 24
years later, it is worth $6,400, and
growing.
No, it isn’t all gravy. During this
time the owner of the stock would
have had to pay taxes on the divi-
dends earned. And, while taxes on
the principle amount are deferred
until the stock is sold, they could be
sizeable.
Another caveat: The period
chosen was one of the very best of
the century. Returns were high and
inflation was low, and that situation
is rather rare. A more likely situa-
tion would be an annual return of
10 percent to 15 percent.
At the latter rate of return there
are dozens of sound, well-managed
companies to choose from. For
those whose investing skills are
well-honed, there are stocks that
conceivably might even double
those rates.
And somewhere out there is an-
other IBM or Xerox or Polaroid or
Apple Computer that might grow at
an even more dazzling rate. To find
them, however, might involve as
much luck as skill.
No investment is without risk,
but one explanation for foreign in-
terest is that America is still, for all
its faults, the world’s most politi-
cally stable large nation and one of
the soundest — even most progres-
sive — economically.
Stocks of
local interest
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Tutors* <*•**
* Aussie company to sell malls
By The Associated Press
Donation made
A donation of $240 from Wal-Mart to Hopkins County Outreach
Center is demonstrated here. Receiving the donation for HCOC is
Eld ora Tedford. Tom Van Vranken, Wal-Mart manager, is at right.
Main Street
Alison Buckley, left, accepts a $3,500 donation from Wal-Mart for
the Main Street Project of which Buckley is manager. At right are
Joyce Davis and Tom Van Vranken, Wal-Mart employees.
Hooker Corp., the troubled
Australian property developer and
retailing concern, hopes it can
quickly accomplish a plan to sell
stakes in its American stores and
sell its three U.S. shopping malls
outright, a Hooker executive said.
J. Frank Haasbcek, president of
LJ. Hooker Corp., the Atlanta-
based holding company for
Hooker’s U.S. operations, said
Wednesday that Hooker wants to
act swiftly in arranging the sales,
which are aimed at lightening the
company’s debt load.
“We would like to accomplish a
lot in the next three to six months,”
Haasbcek said in an interview.
Hooker announced earlier this
week that it is seeking joint venture
partners to invest in its Bonwit
Teller, B. Altman, Sakowitz and
Parisian chains.
The Mcrksamer Jewelers chain,
which is 80 percent owned by
Hooker, has been pul on the sale
block by Hooker and the other
owners.
Hooker also said it will divest its
Forest Fair Mall in Cincinnati,
Richland Fashion Mall in Colum-
bia. S.C., and Thornton Town Cen-
ter outside Denver. In addition,
partners are being sought to invest
in malls Hooker plans to build in
Cary, N.C., Tampa, Fla., and At-
lanta.
A 20-story office tower Hooker
has under construction in midtown
Atlanta, called 10 Peachtree, also
will be sold.
Haasbcek declined to identify
parties that have expressed interest
in investing in Hooker’s depart-
ment stores or buying the shopping
malls.
He said the malls have attracted
m.. ,y potential purchasers and
Hooker is negotiating with a North
American builder about making an
State’s economy appears improving
DALLAS (AP) — Analysts at
the Federal Reserve Bank of Dallas
say the stale’s economic recovery is
continuing at a moderate pace,
driven in part by strong retail sales
including expansion of auto sales.
“Retail sales show strong year-
over-year expansion,” the Dallas
Fed says in a report prepared for
next month’s meeting of the Feder-
al Open Market Committee which
will determine the central bank’s
monetary policy.
“Rates of (sales) growth are par-
ticularly high in West Texas and on
the Mexican boarder, but increases
elsewhere are the rule, rather than
the exception,” the report, known
as the Beige Book, says.
The report singled out Houston
for retail sales grow Ji of between 8
percent and 10 percent from the
same time last year.
Texas also is bucking the trend in
car sales, which are slumping na-
tionally. In Houston, for example,
car sales are up 9 percent from last
year and dealers there expect the
trend to continue. Dallas dealers
told Fed analysts they believe the
sales growth would have occurred
even without recent rebate and
other incentive programs.
But according to the New Car
Dealers Association, new car sales
fell 9.79 percent in May from the
same month last year in Dallas
County, The Dallas Morning News
reported earlier this week.
The Dallas Fed said recent rains
have helped improve the agricul-
ture outlook, although subsoil
moisture remains low in places.
“Despite the increased moisture,
a combination of continued dryness
in some cattle producing areas and
high feed prices has motivated sub-
stantial herd liquidation," the report
says. “The increased moisture
came too late to help the already
damaged ... wheat crop, which is
estimated to be the smallest since
1978.
Elsewhere, “oil and gas drilling
continues its recovery, ’ the Fed
said. “Although the rig count
remains 17 percent less than a year
earlier, it has increased 23 percent
since January.
“Respondents believe that the
recent OPEC meetings are likely to
have little effect on the price of oil
and that drilling should increase
mildly over the next few months.”
In other sectors, the Fed said:
—“Manufacturing output is ex-
panding slowly overall,’' although
there have been steady increases in
sales of oilfield equipment Despite
declines in defense industries and
drop in semiconductor sales, over-
all electronics-related manufac-
turers report increasing orders. Ap-
parel and construction-related
manufacturing also remain weak.
—“Construction activity
remains weak, but shows no consis-
tent pattern of either growth or
decline. ... Non-building construc-
tion, for such structures as roads
and public works, continues to
slide. Although existing home sales
continue to rise, median residential
prices in most metropolitan areas
are falling.”
Again Houston is singled out for
its increasing construction activity
and rising real estate prices.
“Office vacancy rates continue
to edge down in most metropolitan
markets except San Antonio, where
vacancies are still rising,” the
report says.
Meanwhile the Beige Book,
which compiles reports from the
Fed’s 12 regional banks, painted a
picture of an economy in which
slower growth could help ease up-
ward pressure on prices caused by
tight labor markets and strained
factories.
“Economic activity for most of
the nation continues to advance, but
a number of Federal Reserve dis-
tricts note ebbing rates of expan-
sion,” the survey said.
EAST TEXAS
GASTROENTEROLOGY ASSOCIATES
Proudly announces the opening of its
Sulphur Springs office.
I „
Practice limited to digestive diseases.
103 Medical Circle 214-885-1291
Sulphur Springs, Texas . By appointment
Bill G. Hughes, M.D.
Julian V. Deese, M.D.
Johnasan M. Gregory, M.D.
CHECK OUR RATES BEFORE YOU INVEST!
FEDERALLY INSURED CERTIFICATES OF DEPOSIT.
3 Months...9.15%* 6 Months...9.20%*
1 Year........9.25%*
'
Minimum Investment 81,000. FSL1C or FDIC Insured.
Penalty For Euty Withdrawal.
Charles Dawson
Prudential-Bache Securities
214-885-8621
120 Jefferson Sulphur Springs
Largest European Takeovers
.
Acquisitions completed In 1988, In billions of U.S. dollars
. v~ > " . ........• ■ - •* -nr,-. :?•
I-—-1
IBHB1
Rowntree (Britain)
Nestle (Switzerland)
4.78
Britoil (Britain)
British Petroleum (Britain)
4.34
Buitoni (Italy)
Nestle (Switzerland)
1.32
Deutsche Texaco
(West Germany)
Rheinishe-Westfaetische
Eliktrik (West Germany)
1.23
Martell (France)
G.H.Mumm (France)
.91
Harris Queensway (Britain)
Lowndes Ventures (Britain)
.81
Ross Young's (Britain)
United Biscuits (Britain)
.63
Tenneco (Colombia
operations)
Royal Dutch/ Shell Group
(The Netherlands)
.50
Source I.D.D. In lor mat ion Services
IA GRAPHICS
Takeover fever has hit Europe The pace of leveraged buyouts there has ac-
celerated sharply, with most of the activity coming in Britain In 1988 there
were 295 management buyouts in Britain with a total value of $6 9 billion
investment in the sites on which
Hooker plans to construct new
shopping malls.
Announcement of the planned
sales followed word from Sydney,
Australia-based Hooker in late May
that it intended to sell $750 million
of holdings in the United States and
Australia to raise badly needed
cash.
Much of Hooker's financial
difficulty stems from three years of
rapid expansion in U.S. retailing
and real estate development, a
recent slowdown in U.S. retail
sales, a sharp rise in Australian in-
terest rates and tightened credit.
Since 1986, Hooker has ac-
quired: Bonwit Teller and B.
Altman, department stores located
in the Northeast and Florida; 80
percent of Sakowitz, a small chain
of department stares based in Hous-
ton; a majority interest in Parisian,
a chain operating in the South
based in Birmingham. Ala.; and 80
percent of Mcrksamer Jewelers, a
string of jewellery stores with
headquarters in Sacramento, Calif.
At a meeting in Sydney on Wed-
nesday, Hooker asked about 40
creditor banks to support a four-
month moratorium on principal
payments on its loans. Hooker
would pay only interest during the
period.
The lenders were asked to decide
by Friday whether they would
agree to the temporary reprieve for
Hooker.
After Wednesday’s meeting,
Richard Grellman of the accounting
firm Peat Marwick Hungerfords, an
adviser to Hooker, said there is “a
general level of support” for the
moratorium proposal among
Hooker’s creditors.
If the creditors go along with a
postponement in principal
payments. Hooker will draw up a
restructuring plan within three
months for approval by the lenders.
Ribbon cutting
Movies & Cream, a new video and frozen yogurt store, is open for
business. Owners, representatives from the Hopkins County Cham-
ber of Commerce and a Dallas Cowboy partkpated in the ribbon
cutting. From left are Monty Harry, chamber; Ed “Too Tall” Jones,
Cowboy; and owners BBI and Mike McCool, who is bolding his son,
Malison
—SUIT photo by Rickard Hail
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June 23 and 24 10tot # That
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4
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Keys, Clarke. Sulphur Springs News-Telegram (Sulphur Springs, Tex.), Vol. 111, No. 148, Ed. 1 Thursday, June 22, 1989, newspaper, June 22, 1989; Sulphur Springs, Texas. (https://texashistory.unt.edu/ark:/67531/metapth823761/m1/4/?q=%22~1~1~1%22~1&rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Hopkins County Genealogical Society.