Stamford American (Stamford, Tex.), Vol. 71, No. 7, Ed. 1 Thursday, May 13, 1993 Page: 5 of 22
This newspaper is part of the collection entitled: Stamford Area Newspaper Collection and was provided to The Portal to Texas History by the Stamford Carnegie Library.
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SERVICE
BARBER SHOP
108W. McHarg
8 a.m. to 5:30 p.m.
Monday-Friday
TRADE IN STAMFORD
[jj DRUG
C.E. Bunkfay •
"Your Complete
Drug Store" I
■ ^-^unkley;
m>TTn !
n
Auto and
tine
xn,TX.
in Rule
>der the
attended
tie Glory
a son
nway
a and
h Abilene
irst Baptist
pfficiating
by Foster-
b Mr. and
attended •
mber 12,
r County
Stamford American, Thursday, May 13,1993, page f
Charles W. Stenholm
17th Congressional District of Texas
by Doug Stein
Bemieco Cowaert met with the
The address and telephone
The San Angelo office, which
consent of the court was ap-
on the firearms and $40.00 on
Military News
'Victory when Life is Hurting'
Connie Petrik.COW POKES
By Ace Reid
AUSTIN - With only three
State JL Capital
opposed Proposition 1, a pro-
In 1991, Speaker’s Day in-
'I
.V,
In comparison, Laney's fust
MEMBER 1993
V*,
•Sen. Don Henderson has filed
over 73 percent of nublic school
The event included a conti-
lilllllllllimilHlIIIUIHUIItUIIIHHM*]
'lillIUll*"
CAPITOL
JOURNAL
Legislature does not solve the
crisis by the June 1 deadline set
levied ad valorem taxes.
Dallas lawyer Tom Luce is-
sued a proposal to cut some
school programs, tax commer-
FINANCIAL
FOCUS
STEVEN A. CARRKER
State Senate
HIGHLIGHTS
■y LyaMI WHUmm
aaOUSMtaf
TEXAS PRESS ASSOCIATION
Subscription Rates
On yaw b Jms nN HnM mmmSm
tMm to Tnms
(MNSaTnus
sum
S1M0
Siam
vember ballot.
Gun Bill Shot Down
By a three-vote margin, the
Breaking tradition, Laney re-
fused to accept any expensive
Publishers
Editor
Rsportsr/Advsrtlslng
Rsportsr/Advsrtlslng
tin.
Of the 385 people who at-
tended the hearing, many were
33 East Twohig Avenue
San Angelo. Texas 76903
(915)655-7994
Stenholm indicated that he
TA
TEXAS PRESS ASSOCIATION
I
Member
Texas Press Association
National Newspaper Association
BUY A NEU PKKUP
ANP
we will pay yourfe^d
Bill for one Year///
“It's pitiful. He drove a Cadillac so long he
don't know how to drive these new pickups
and he’s afraid he’s too old to learn!"
/
QI TO
NEW
ATOM tCd
Tir _
House
when a state district judge's or-
der would sever school funding
for public schools in Texas, a
joint panel of the House and
Senateeducation subcommittees
met last Thursday, welcoming
ideas from the public on how to
solve the crisis.
An estimated 20,000 teachers
in 142 school districts won't see
paychecks this summer if the
book value.
The second way FAS 106 affects book value is that reported
earnings will be reduced by annual chargee each year. Because
earnings won’t be as high, increases in annual book value won’t be
as great
Although the coat of retiree health benefits has always been an
expense, the mandatory FAS 106 reporting now makea it clear that
current and future shareholders "are farther back in line when it
comes to being paid,** according to a recent article in the Dallas
Morning News.
David Shulman, director of equity research at Solomon Brothers,
views future health benefits as part of labor costs. Because the costs
ofretiree health benefits have previously been omitted in accounting,
labor costs as reported to shareholders were understated. This
resulted in profits being overstated. In short, accounting did not
accurately reflect actual coats. Shulman suggests that shareholders
must now re-evaluate the true earnings power of their corporate
shares.
Whether FAS 106 is considered a reduction of earnings, book
value or both, it is hard to ignore the fact that it will affect the way
common stock is evaluated. Large corporations with strong unions
have already felt the effect of FAS 106 on their bottom line.
How the stock market will react to there changes is yet to be seen.
If financial analysts overlook the changee in book value and earn-
ings, we will see little change. On the other hand, if analysts choose
to see a real decline in book value and earnings, the market could
follow to more accurately reflect the true value of the stock.
Either way, you should be aware of FAS 106 and know that, in
some way, it will change the way we value common stocks.
ADVERTISING DEADLINE
10 AJM.TUESDAY OF PUBLICATION
deductible for the amount of tion was taken.
Motion was made tocloaeCox
Street in Lueders. The motion
Auditor Brown requested the carried.
Dennis Brown met with the
keep out tour buses and sightse-
Speaker *s Day Fete Modest «■ hoping for a glimpse of the
Some 280 fanner stats repre- farmer first family.
pump an additional $ 1 billion in sentatives attending Speaker’s
state funds into public educt- Day last Friday noticed the dif-
tion. or would consolidate school ference Speaker Pete Laney
district tax bases if the proposal brought to the annual event
far extra tends were rejected.
Laws of the Jungle" followed by enjoyed by all. Mineral Wells, Pott, Haskell,
--- i The children played some Georgetown and Stamford.
pm and last until service everyone is encouraged baseball and volleyball,
t the focus to be to wear clothing from the "Dust <r
, of a Clear Con-
science". Saturday will begin
lay eggs in the 1/3 grown Gypsum. Kansas joined the
Marine Corps in December,
1991.
Congressman Stcnhotai opens District Office fa San Aagclo
WASHINGTON, D.C.— changing needs of one of the
Congressman Charles Stenholm largest Congressional districts
A traditional way to value common slock is by determining its announced the opening of a in the United States.”
book value, which is what a company would be worth if it sold all district office in the O.C. Haber
hmsar Sad <tm«s<rf addmt aattoas to Baarfotd larwirm.
Box 1207. Stanford, Texas, 79553
STAMFORD AMERICAN
(USPS 517-380)
Becky B Lewis Alambar
Sharon Gilbreath
Jowallee Kuenstler
Ursula Richards
With no more business to at-
a.m. tend to, the meeting was ad-
Minutcs of the April 26 and joumed.
twice. out here in District 30 the idea
Besides that, it would cost the gets a very cool reception.
state about $4.5 billion to
ffl s
Nothing VOVJN
96 MONTH TO PAY
ALSO ONE SET OF
DISHES AND A TRIP
TO PARIS
elor for fourteen years.
Services, will begin Friday a pizza supper. At the 6:00 pm
liglw at 7:
1:30
The Jones County Commis- Outturn for all the equipment
stoners Court met in regular see- for $550.00. The motion car-
rion with the following mem-
bers present and participating:
fmtmii.aiylNwWyatoBffciiflM iCbialHUII ito toiitFXl
aaiamareab<'taM7m.oispn-Mn.aMManaRna»pMaaMM>
nm.TiaU Uni II I n.....I IwtotoAmUM*#1.ISM.
■v a* ■ myniM «a w arey V" **a
tosaUM*.
X,
Re-elected as officers were
Sunday everyone and more Jerry Terrell, Don Caffey, Glen
Bowl Era" 1930’8-40’8 for the met at the Lions Club for a re- West, Jerry McLellan, and
sermon entitled "Home like it union and lunch. Prizes were
with a pizza supper for the chil- used to be". given and lots of pictures taken.
• 2nd Marine Division, Camp education. Trying to solve the I certainly hope that doesn’t turn
ment strategy allows cotton to Lejeune, North Carolina. school finance problem with out to be the only viable
* ... . .J jrtrtHtte nf South- lottery money would be like alternative. While that might
Education, and $1600 from re- to provide the required right of
tend and errors to new equip- way and costs of utility adjust-
ment The auditor will make the ments. Commissioner Lollar Jones County met in a meeting
changes with the general con- made the motion to approve and to Canvass the votes of the May
sent of the Court sign the resolution. The motion 1 Special Election called by the Transport Life request to allow
Steve Lollar, Commissioner carried. Governor toelectaU.S. Senator Colonial to continue.
Precinct 4, had advertised to aell This was the time to check and three Constitutional Amend-
surplus and salvage equipment County Treasurer Irene ment Propositions,
around the Precinct Bam. Two Hudson’s quarterly report for
bids were received. Commis- January, February and Match,
escape most of the overwintered
weevils which die before they east of Salim High School of trying to spend the same money wok for some parts of the state,
stage.
Growers interested in the pro-
gram may do so at a coat of
$230 per planted acre for dry-
land cotton. Your interest is
greatly needed and appreciated.
Be sure to sign up soon at the
County Extension office.
The Court will take action be-
fore June 7 to apply for grant
money for oil disposition in the
The Commissioners court of county. The Court would like to
sionerLollarmadethemotionto 1993; Commissioner Lollar Jones County met in regular ses- establish eight sites,
accept the bid of George Moss made the motion to approve the sion on May 10, 1993 at 9:00
[for two 50 gallon tanks for quarterly report The motion
|$20.00, and reject the bid of Greg carried.
his budget $1400 from Profes- from FN 707 East to Anson
sion Service to Training and SouthLake-JonesCountyagrees duct the meeting was adjourned. Jones County to aid the people
in the rural communities where
The Commissioners Court of city animal control policy will
not cover.
Motion carried to allow the
ing were read and approved. Funeral Home in Stamford be ers Court budget $12,546.00 to Court concerning amendingbud-
Don Dobbins and Chris paid$200.00morefarapauper's pay for the Law Enforcement get of Law Enforcement Liabil-
LeGate with Transport Life In- funeral conducted earlier in the Liability. ity and any others needed. Line
surancecompanydiacusaedthBir year. Commissioner Lollar made the item transfer under the general
Commissioner Manske was motion to amend the budget for
s^,at CaIvary West family holds
annual reunion
The descendants of the late Joe and Martha West moved The Jones County Uniform ruiWn rf Mari. S and until you realize that all the educational system.
is presently serving School beginning at 9:45 am, cemetery dean up day. Between that land they built ahome where This important du tural manage
r.miu Hurtin." fifty and sixty people were they lived until they passed away. ... ..
---*, Folks present Saturday and
After mowing, working all the Sunday were from Arizona, Cali-
far several years. Burtis Doesn’t". Sunday afternoon the graves, trimming the trees and fomia, Denton, Midland, Ft.
vioualyservedasapastcr youth service will begin at 4:30 placing flowers on most of the Worth,Clebom,Burleson,Lub-
years and a family coun- pm with the focus being "The graves, a good picnic lunch was bock. Abilene, Breckenridge,
tion carried. firearms and $61.00 for the two $3000.00. The Court is always
Judge Rowland had received a knives; and Bill’s Sporting looking for new ways to save the
Tom Isbell, Tax Asseaaor-Cd- letter from the Texas Depart- Goods in Anson for $1250.00 taxpayers money.
lector, met with the Court and ment of Transportation in re- on the firearms and $40.00 on The Court directed the Jones
requested line item changes in gard to FM 2764, Jones County, the knives. The motion carried. County Sheriff to select a person
With no more business to con- for animal control throughout
date pastor and family “Victory when Life is Hurting" fifty and sixty people were theyliveduntiltheypassedaway.
or at Elmcrest Baptist then at 11:00 am the sermon present
in Abilene where he has entitled-WhatWorkswhenLife
laptist Bible Conference
A Living in the Victory Bible dren at 6:00 pm. Services will
inference will be held Friday, again be held from 7:00 pm to
ny 14, through Sunday, May 8:30 pm with the sermon en-
K at theCentral Baptist Church titled "Key to Victorious Uv-
Stamford. ing”. Sunday’s conference time .
Dye conference speaker Burris will be combined with Sunday urday. May 1st for the annual twenty-five cents an acre. On
Other Highlights
Supporters said the proposal • Rep. Vilma Luna, D-Corpus
was the only way to force the Christi, was sworn in last week
to public schools and Senate to vote on the measure as the newest member of the
doing away with school district- allowing Texans to carry con- Texas House. Luna, a 35-year
cealedguns. old lawyer, fills the seat vacated
At issue was an amendment to by Eddie Cavazos, who was ap-
a bill to reauthorize the DPS, pointed to the Texas Employ
which is scheduled to "sunset" ment Commission.
cial and mineral properties at the in September. The amendment,
state level insteed of the local by Rep. Ron Wilson, D-Hous- abilltolimitaccesstoHouston's
level, and far die state io fork ton, called far a November vote Tanglewood subdivision, where
over 75 percent of nublic school on the proposal that would let farmer Preaident George Bush
ftnwting - e 37 paromt increase, adults cany cortcoaied weapons Uvea. Henderson, R-Houston,
Representing 19 metropolitan if they get training and a state said the measure is intended to
school districts, Texas School permit. keep out tour buses sndsightse-
Alliance proposed a plan that
over the next two yean would
Planting date
set for May 24
The Jones County Uniform
Planting Date for 1993 will've
Prison Measure Stalls nental breakfast, a tour of the
A proposed $1 billion bond new Capitol Extension and a
by Judge Scott McCown of Aus- issue for new prisons and jails barbecue on the Capitol grounds.
ran into difficulty in the Texas fa the past Speaker’s Day has
House last week, as minority been an elaborate and expensive -
lawmakers vowed to block final affair.
members of Texans Against pusage until a school funding
Robin Hood Taxes, a group that compromise is reached.
“We’ll give them something gifts from lawmakers or lobby-
poeedconstitutional amendment on prisons when they give us ists, said Rep. TomUher,D-Bay
that wu defeated in the May 1 something on education,” said City, who planned the event
election. Sen. Carl Parker, D- Rep. Irma Rangel, D-Kingsville,
Port Arthur, criticized ideas by head of the House Hispanic cau- eluded a dinner and dance at the
the groups chairman, Tom
Pauken, who proposed dedicat-
Jones County Commissioners Court save
taxpayers $3000 in runoff election
Dennis Brown, Auditor, dis- May 3 meetings were read and
cussed the Law Enforcement approved.
tied. Liability Insurance that he had April bills were presented and
The Court had taken action received from Texu Associa- paid.
Brad Rowland, County Judge, during budget time last summer tion of Counties which included
presiding; JameeClawson, Com- to increase the pay for Pauper’s three proposals and the cost, Court concerning fireworks. The
miuioner Precinct 1; Vonay funerals, but the action was not Commissioner Davis made the Court has no authority to pro-
_ ita asaeu and paid all its liabilitiea. Now, PAS 106, a new accounting Federal Building in San Angelo, number for the new office are as
Davis,commissioner Precinct 3; placed in the minutes; Commis- motion to go with the $1000.00 hibit fireworks, therefore now- P*00^1" requires companies to show the coat ofretiree health effective Monday, May 3,1993. follows:
SieveLoUartCommiMioncr Pte- sioner Clawson made the mo- deductible for the amount of tion was taken. bene its in their annual accounting, is changing the way investors
cinct 4; Buryi Rye, County Clerk tion to clarify the Court’s action $12^46.00 a year. The motion w~*;— -----— look at book value,
and Ex-Officio Clerk of the and to approve $600.00 for pau- carried.
Court. per funerals. The motion car-
Minutee of the April 12 meet- tied. The Court ordered Kinney court amend the Commission-
Funeral Home in Stamford be ers Court budget $12,546.00 to Court concerning amendingbud-
Cafeteria Plan 125, since a num-
ber of County Employees have absent, therefore action was the requested amount The mo- proved.
their insurance. No action was tabled on the road closing at tion carried. Election precincts for the up-
taken, but will be an Item Agenda Lueders. Sheriff Middleton had adver- coming runoff election was dis-
May 10th. County Clerk Buryi Rye re- tised for the sale on firearm and cussed. Action was taken tocom-
The City of Hamlin had re- quested the Court set the date two knives that had been confis- bine the voting boxes of pre-
ceived bids on property from andtimeforcanvassingthevotes cated, and he had complied with cincts 23,15; 11,12,13; 1,14.
delinquent tax sale located at of the May 1 Special Election, the law in the time and advertis- Judge Brad Rowland added that
735 NW Ave. E from Don Commissioner Lollar made the ing. Two bids were received, by combining these precinct
Norris. Jones County is one of motion to Canvass the votes on from Bell’s Home A Auto Inc. voting boxes on a one item elec-
thetaxing entities sharing in the Monday, May 3, at 9 a.m Mo- in Hamlin for $1,703.00 for the tion will save the taxpayers
sale. The Court motioned to al-
low the sale. o
Congreasman Charles W.
will be a one-person operation, Stenholm
Some analysts believe FAS 106 will cause no fundamental will be managed by Jayne O.C. Fisher Federal Building,
change in book value because companies have always had the Schoonmaker who has worked Room 318
expense of retiree health benefits. Not so, say accountants and for many years in Congreasman
pension consukams. Stenholm’s district office in
One major public accounting firm has estimated that the new rule Stamford, fa addition to working
will reduce the book value of the nation’s largest industrial compa- in the San Angelo office,
nies by 7 percent this year. The firm predicts another 7.8 percent Schoonmaker will also make plans to hold an open-house fa
decline in book value over the next 10 years. field visits to towns in the the near future. "For ths time-
Tbe FAS 106 accounting requirement impacts book value in two surrounding area. being I encourage folks to drop
ways. First, each company effected will take a one-time “catch-up” "I am pleased that the 17th by the office Io get acquafatad
charge that will immediately reduce book valueL The numbers vary DistrictofTexas now includes a with Jayne," said Stenholm.
among companies, but major corporations have already estimated portion of San Angelo," said "This office belongs to the
transition charges of$250 million to more than $27 billion against Stenholm. "and I am opening people the 17th Dianrict, and I
this office in order to meet the encourage them to use it."
cus. Erwin Center. The event cost
Atissueisaresohitionforvoter $110,940,including$57,000for
ing lottery profits to property- approval for bonds to build new food and beverages, with lobby-
poor school districts and limit prisons and state jails. Thetnea- ists picking up most of the tab.
funding to basic education pro- sure passed the House 91-50,
grama- nine votes short of the 100 Speaker’s Day cost about
Most of the proposals, how- needed to place it on the No- $13,000. Lobbyists bought most
ever, would require constitu- vember ballot. of the $50 tickets, but the public
tional amendments, and a state- Gun Bill Shot Down can also purchased them,
wide vote on the amendments By a three-vote margin, the "Idon’tliketosayl’mcheap,"
could not take place before Aug. Texas House defeated a propoaal said Laney, who enjoys Arby’s
14. to link a concealed weapons bill roast beef sandwiches and pop-
A proposal for a state income with continued operation of the corn. "I’d like to say I’m fru-
-Tax resurfaced at the hearing, Texas Department of Public gal."
this time through Rep. Billy Safety. The vote was 70-67.
Clemons, D- Pollock. Clemons
suggested dedicating income tax
revenues
Why Not the Lottery?
The rejection of the equalize funding for rich and
constitutional amendments by poor districts once the County
Texas voters has escalated the Education Districts are gone,
dilemma of how to equalize many times the amount of the
school funding. Our goal must lottery money already being
be to make sure every school spent on education.
district has an adequate amount Theonly way toraisethepoor
of money to give each student a school districts up within a
quality education whether that constitutional range of the
district is big or small, rich or wealthy districts with lottery
poor.Tbeanswertotheproblem, proceeds would be to place caps
however, is a lot more onper-studentspendingtobrfag
complicated than many people wealthy districts down. That’s
realize. not the answer, it would be the
My office has received a large death of sparse school districts
number of calls suggesting that like Jayton, Guthrie and others,
wesimplydedicateiotteryprofits whose cost per student is
to'education. After &U, the lottery unavoidably high because of
will produce over $500million a geography. We want to aaaure
year for the state over the next every student the right to a good
Marine Lance Cpl. Juan C. biennium. That sounds great education not weaken our
Raymond D. GaUardo* Sr. of lottery moiey, plus SlflAlion
to consider planting at this time. with 2nd Tank Battalion, tend, is already being spent on consolidationofschooldistricto.
I n JHWH’li
*5 *8
U il 1
*8 *8 'SB
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Gilbreath, Sharon. Stamford American (Stamford, Tex.), Vol. 71, No. 7, Ed. 1 Thursday, May 13, 1993, newspaper, May 13, 1993; Stamford, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1290934/m1/5/?rotate=90: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Stamford Carnegie Library.