Port Lavaca Wave (Port Lavaca, Tex.), Vol. 96, No. 175, Ed. 1 Tuesday, March 31, 1987 Page: 5 of 14
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well as a lull line ol bakery Hems at the store
Alice Keckaway, lelt and Georgia Kusak.
manager, proudL display the shelves ol quality
\ II I.AGK «.!<<>< KKY IN POINT tom fort oilers
a great selection ol delicious hot and cold
delicatessen items, Ireshly prepared dally, as
Next to GTE.
elcoine to fitness"
T T 8 a m. 9 p.m.
Set 9 a m 4 p in
fiC
For appointment call
> 552-46X2
<J*l2ll \. Hwy. 35 Bypass
I. f'TC
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MW F 6 30 a m 9 p.m
Nautilus Exercise
Equipment
w itli
I crsonalized
Programs
Obwi
Vaughn Lambden
Ra»»dv Coward
Gift «
Certificates
Avai'ablr
4
.’HI I Main
Let us ckeck your heating system
for the cold months ahead.
I it on set!-Bonded-1 ns u retl
smith electric
£.•/> CO. INC.
■ jio | Main 552-::::iio
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meats, cheeses and salads that are available at
tillage Grocery. They also have cakes, pies and
other pastries lor any occasion. < Stall photo >
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MIBB:
M {f
BANKING HOURS
rn
FIRST* STATE
BANK and TRUST COMPANY
MAIN LOBBY
Monday F '<day 9 00 j m to 2 00 p.m.
Thursday Afternoon -4 00 pm to 6 00 p
DRIVE IN BANK
Monday F» day 9 00 a.m to 6 00 p m.
1 I N Viriflnu
items
(Paid advertisement>
IjGulfJ
Golf
•Sall t.rav
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table cate like atmosphere in the
store The dedicated and qualified
employees are anxious Io serve their
valued customers in any way possi-
ble
5S2-3622
PORT LAVACA
Back To...
UillaxeGroc.
512-987-2236
DREYMALA
CONSTRUCTION CO.
575-0221
VICTORIA
MARSHALL GULF
Hwy. 35 Bypass at Travis
552 6523
•A ’lull Mr»ic«" (tetion
•Fix ftou ‘Minor mechanic work
"The ONLY automatic brush car wash in Port Lavaca"
FREE cat wash with fill up at full service pumps
\ illage Grocery, in Point Comfort. is
owned and operated by Dennis and
Bertha Harvey. They are open from
5 a in. until it p.m.. seven dayu-a-
week. Call 987-2236 lor more details
about any id the specialty bakery or
delicatessen items available al the
store.
SdH./v Hill
SIDING * STORM WINDOWS < DOORS * REMODELING
Froo E»timofo»
Finoncing Available
ULLAGE GROCERY
PT COMFORT, TX
"All Your ()nr Stop Nerds'"
HAKIRY HOI & COLD DU I
HUNTING4 HsHINGI ICtNSl A SUPPt Its
WASHA 11 KIA « I AUNDKY SEKVfCt
‘F>*
t
The delicatessen at Village
Grocery in Point Comfort features
the lines) in hot and cold meats,
cheeses and other delicious lunch
and dinner items
Now owners Dennis and Bertha
Harvey are proud to announce the
addition ol another special
delicatessen item which is sure to
develop into everyone's favorite
dish, hot and spicy Cajun style
chicken
This chicken is expertly prepared
in Village Grocery’s own kitchen,
which helps guarantee freshness
and quality Try the hot and spicy
Cajun chicken, now available at
Village Grocery
Pure heel hamburgers are also on
the way to Village Grocery.
The store also has a lull line ol
delicious bakery items, including
doughnuts, cakes and pies, which
are freshly linked in the store daily
Village Grocery also offers specialty
cakes lor any special occasion,
specifically designed to meet any
customer's individual desires.
Open a( 5 a m every morning,
Village Grix-ery is the perfect place
to go lor an early morning
breaklast They specialize in Iriend
ly, convenient service and will work
to please each customer
The delicatessen is stocked lull
with a wide variety ot meats,
cheeses and salads, as well as an im-
pressive display ol Ireshly prepared
sandw iches The bread is baked
fresh daily, and all their delicious
food items can be enjoyed in the
cozy, cafe like atmosphere at tlx1
store
The friendly folks at Village
Grocery will also prepare party
trays tor any occasion, leaturing hot
anil cold meats, as well as a variety
ol cheeses and salads Make Village
Grocery your first stop when plann
mg a party or lor a quick, delicious
meal at breaklast or lunch
As well as all the great fcxxi and
Igikery items at the store, Village
Grocery features a whole variety ol
services lor the Point Comfort coni
munity
Sandy & ( Ah
hair specialists
t2ll/2 !\. Hruiniu
\ll \ HoMl \
9 a. in.
Village Grocery
Offering delicious deli
They rent movies as well as the
VCR’s themselves and require no
memberships Also located at
Village Grocery is a clean, spacious
washateria. They offer a laundry
service, allowing customers to drop
off their clothes and have the folks
there take care of the cleaning
Fishing licenses and equipment
can also lx* purchased at Village
Grocery, who continue to expand
and work harder to serve their
valued customers
Visit Village Grocery in Point
Comfort and enjoy their delicious
breakfasts or lunches in the comlor
552-6681
< Hll DRI \
< h>en 1 a.m. 6 p.m.
' hit, appointments ,<■ h ath i>„ It'd,
thi'iui ______
Carbide
250
225
profits
200
175
150
increase
125
MM
75
50
25
Commission issues
:i J
3
«■
larger diameter lines into which
smaller pipelines connect Terminal
lines are the points to which oil is
transported to pipelines
In February, three operating per
mits were approved tor pipelines in
South East Texas (District 3>, one
each in deep South Texas. (District
4). East Central Texas (District 6>.
and the Panhandle (District 101. and
two in West Central Texas (District
7B»
(Source Site Selection Handbook) nea graphic
With these states leading the way. more than 3,000 major industrial facilities
were built or expanded last year in the United States Each represents at
least a $1 million investment, employs at least 50 people or contains at
least 20,000 square feet of floor space
Building Business
Where Industrial
Construction Is Booming I
// //
suu
pipeline permits
AUSTIN Railroad Commission
Chairman Mack Wallace has an-
nounced that nine permits to operate
new pipelines in Texas were granted
by the RRC in February. In
January, the Commission approved
nine permits
Four of the new permits were lor
gathering pipelines, three were tor
trunk transmission lines, and two
were lor terminal lines Gathering
lines bring oil and gas from produc-
tion leases, while trunk lines are
DANBURY, CONN - Union Car-
bide Corporation today reported
audited results showing 1986 net in-
come of $496 million, or $4 78 per
share, versus a 1985 loss of $581
million, or $2 78 per share
The full year’s net income in 1986
reflected a $564 million gain from
the sale ot businesses, a $270 million
credit Iron the reversion of surplus
pension funds and an extraordinary
charge of $473 million resulting from
the purchase of long term debt at a
premium as part of the company's
recapitalization program in
December
Income Irom continuing opera
tions tor 1986 was $130 million, or
$1.25 per-share The loss from conti-
nuing operations in 1985 was $503
million, including the unusual
charges ot $475 million 'net of $385
million, of taxes and minority in-
terest i. representing write-offs and
write-downs of certain assets, and
charges for programs to reduce
salaried stall, and other special
gains and losses accumulating to
$147 million (net ol $73 million of
taxes Adjusted tor these items, in-
come from continuing operations for
1DH5 was $119 million, or $0.57 per
share
Commenting on the past year. J
Clayton Stephenson, Union
Carbide's vice-chairman, said. "The
year 1986 was truly an exceptional
year We defeated a hostile takeover
attempt, recapitalized the company
not once but twice, and provided our
shareholders with some $4 4 billion
in cash and securities
»
EL PATIO RESTAURANT
MEXICAN FOOD
V7SA
Daily Lunch Specials
, rhwse ot chicken Enchiladas
kTait Tacos, Caldo de res. Tamales
”>»• dozen to go and much more .
534 VV Main 552 6316
'Business in dynamic Calhoun County
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29 40
families
ou Id re
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thu
ppealed
•s to pay
of 500
oranly
•pt
Friday
■ontinues
Io house
the kids
love into
■ss. she
ng
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at home
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I
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pts own
la salary
lhall not
Id repre
Evened
ear's in
until af
ratified
lever re
year the
state to
I the M
lation
v urgmg
ume the
eek the
the Ne-
m sever-
in to do
agricultural exports, which squeezed the flow ot
money, and S&Ls saw the value ot their projects
crumbe
When the loans starting souring, tne bank board
began moving in and taking over, liquidating assets
as it went, often at prices so low they wouldn t collect
even halt their original value
"They would loan at a cheaper rate to get a per
centage ot the project, Mattox said "They were
getting up to 65 percent ot the development deals
Instead ot being lenders, they were partners and it
caused them to make some pretty bad hanking
decisions because ot pure greed
“What they (the bank boardi have done is. on a
wholesale basis, allowed all ot the institutions to
participate in virtually any project they wanted, he
said "It's been pure insanity the way they ve han
died foreclosures
Roy G Green, president ot the Federal Home Loan
Bank ol Dallas, testified before a congressional
subcommittee earlier this month that a majority ot
S&Ls are victims ot the economic downturn and
should get special consideration, but he also said a
tew deserve to be dismantled
"The environment was so attractive that some less-
principaled entrepreneurs came in as well, funds
were diverted, in some cases into their own pockets,
and a disaster was tell in tneir wake Green said
With propety selling at the lowest prices in years
investors are walking away w ith big chunks ot Texas
Prices are so low that even the state is looking at S&L
liquidation sales tor investments
An additional headache tor the government is that
the marked-down property values are cutting ad-
valorum taxes tor cities and the state. Mattox said
I’he most immediate need, most agree, is a large
injection ot money to keep the FSL1C afloat
I’he federal monetary system could not stand the
collapse ot public confidence that might follow
bankruptcy ol the FS14U. industry and government
officials say, but they add it is inevitable it Congress
doesn t act quickly
Savings and loans ask
for congressional aid
W ASHING I’l IN <AP> Imperiled by years ot
speculative lending followed by a shattering
economic crash, debt-stricken savings and loans
from the oil and tarm belts have come crawling to
congress tor help
I’he insurance fund responsible tor covering some
$9‘Mi billion in S4L deposits in the United States has
been sucked dry and. w ith more trouble on the way,
the industry desperately needs more money, new
rules and time to recover
In several states some instutions are being caught
in a general and deep economic decline, said Kep
Steve Bartlett If Dallas, who has authored one ol
several bills designed to provide relief to the in-
dustry
Texas has taken the lead in pressing tor change
because it had dozens of S&Ls close their doors last
year
Officials believe another 58 ot the state s remaining
290 institutions are in danger of insolvency
Attorney General Jim Mattox traveled to
Washington to try to persuade lawmakers to take a
closer look at why so many S4Ls are tailing by the
wayside He blames the federal regulators, who
blame the greed ot the S&Ls
There are a lot ot troubled institutions out there,
but the f ederal Home Loan Bank Board has
overreacted to the problem, particularly in Texas,
Mattox said
t hey have been too aggressibe in taking property
from these S&Ls and then selling them at ’fire sate
prices be said "Congress will be making a serious
mistake it it d(x*sn t conduct extensive oversight
hearing to look into me way the Federal Home Loan
Bank Hoard handled the situation
The cycle that lelt these S&Ls ailing began with
■ieregulatien in tne early T.tKOs, which permitted the
thrills to move Irom home lending into the heady
world ot speculative development loans and direct
investment
Then came tne falling price ot oil, w htch sapped the
Texas economy combined with a sharp decline in.
i
Burt Lavaca Wave. Tuesday, Mar 31, 1987 Eage5
Business
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New or expanded industrial facilities (t9B6)
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Surber, Chester C. & Fulghum, Gary. Port Lavaca Wave (Port Lavaca, Tex.), Vol. 96, No. 175, Ed. 1 Tuesday, March 31, 1987, newspaper, March 31, 1987; Port Lavaca, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1280585/m1/5/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Calhoun County Public Library.