The Kerrville Times from Kerrville, Texas on November 6, 1991 · Page 11
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November 6, 1991

The Kerrville Times from Kerrville, Texas · Page 11

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Kerrville, Texas
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Wednesday, November 6, 1991
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Page 11
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Business Wednesday, November «, 1991 1 1A Business- briefs 'Positively Outrageous* book-signing party set for local businessman • KERRVILLE — Kcrrville businessman and Center Point resident T. Scott Gross has written a book he said could be considered a survival guide for small businesses. "Positively Outrageous Service: New and Easy Ways to Win Customers for Life" was released in October and sales have been brisk, according to Gross who has traveled across the nation promoting his book in places like Atlanta, Boston, New York City, San Francisco, Denver and Dallas. Hill Country residents will have a chance to meet the author during a book-signing party scheduled for Saturday, 11 a.m. until 1 p.m., at Waldenbooks in River Hills Mall. Read more about Gross and his book in Thursday's edition of the Kerrville Daily Times. Carl Browning elected to office • CORPUS CHRISTI — A local businessman has been named as chairman of a trade group. Carl Browning, president of Browning Transfer and Storage in Kcrrville, was elected chairman of the Southwest Warehouse and Transfer Association during the group's annual convention held in Corpus Christi on Sept. 17. Browning-Ferris posts $112 million loss • HOUSTON (AP) — Browning-Ferris Industries Inc., which set aside $156 million for future management of its landfills, has reported a $112 million loss for its fourth quarter. The loss, which represents a loss of 73 cents a share, compares to fourth quarter earnings in 1990 of $32.7 million, or 21 cents a share, the company said Tuesday. Revenues for the quarter ending Sept. 30, were $812 million, while revenues for the same quarter last year were $784 million. For the year, the Houston- based waste disposal firm reported earnings of $65 million, or 42 cents a share, on revenues of $3.18 billion. In 1990, BFI reported a loss of $4.7 million for the year, or 29 cents a share, on revenues of $2.97 billion. BFI said its $156 million special charge came in response to an Environmental Protection Agency warning that it would begin to enforce landfill emissions standards under the Clean Air Act. Some mutuals invest in secured bank loans 0. l am Interested in investing to get a higher yield than CDs and money markets but I don't want to worry about large principal fluctuations. I have heard about some mutual funds that Invest In secured bank loans that pay Interest at the prime rate but don't have principal fluctuations. What are these funds? HOW do they work? Are they safe? A. I am familiar with a couple of different mutual funds that fit your description. These funds invest in high grade senior secured loans sold to the fund by large money center banks. The loans are secured by property and equipment that, by the bank's opinion, should cover the loan by 150 percent to 200 percent. The loans are usually made at prime plus 1 to 3 percent The bank keeps the excess and sells a participation in the loans to the fund to pay prime rate. The loans are variable rate loans so they change as the prime rate changes. If the banks and the fund managers have done their jobs the loans should be a safe investment as they would be covered by collateral if the borrower should default The funds trade at net asset value if you wish to sell. Since the fund is made up of variable rate loans these managers feel that the net asset value of the fund will not vary by much. In the two years or so since the funds Tim Licfiak, , INVESTMENT CORNER have come out I have not seen much fluctuation in price although this is no indication of future performance. The funds have certain restrictions such as quarterly-only redemptions and they vary as to types of sales charges. Q. What Is the ELTR yield that shows up on my tax-free unit trust trade confirmation? A. In the past current yield was the only yield quoted on unit trusts. About two years ago it was required that an "Estimated Long Term Return" be quoted on the trade confirmation. Estimated long term returns or ELTR, arc approximations of the average yield to maturity of the bonds in the unit trust portfolio. For primary unit trusts, trusts sold in the original offering, the ELTR was usually very close to the current yield. Since Feb. 1 of this year the ELTR has been required on confirmations for secondary unit trusts. These are older unit trusts that have been sold by the original owner and arc being Stock market report NEW YORK AMR CMP AllledSionil ALLTEL Cp AmStor i Am« T»T Amerllech Amoco AndarkPtr Arkla Armcolnc AllRlchdd Baker Hugh BancTexu BellAtl BellSouth Beth Sleet Burden Citeipllt Cental CenlSo Wee) Chevion Chrysler Coutil CociColi ColgateP i ComlMett CypruiMn OallSemlcn Delta Alrl OlgllalEq allaid DowChem Dteiierlnd duPont EttKodak Eljerlnd Entered Exxon FtClyBcp Floweilno FordMolor GTECp GnDynim GenElcl On Mill GenMotori GnMotrE i GaPaeil GlobM« n Goodrich Goodyear GIAIIPac Gull SHUI Hillburm Hinton Houillnd IBM IntlPipei (AP) —Cloelng ilocki: Sal»» Clot* Change 2t33 S3 - £1 1 3693 411/8+ 3/1 t.4t 246381/2 .70 1491 363/4- 1/2 1.32 1282* 381/4- t/4 3.40 1220(11/4- 1/9 2.20 3271 521/6- IIS .30 3197 323/8* 1/2 1.0S 2061 161/4* 1/8 493S 5-1/8 5,50 15231211/4* 11/4 ' .46 4326 247/8* I/a 266 3/6-1-32 2.S2 3110 46 * 1/4 2.76 2513 491/6 .40 (2630 151/4- 3/6 1.14 3304 317/6- 3/6 1.20 1676 461/4- 1/4 .66 9S6 323/64 3/4 2.92 3117 497/6 3.30 12059 73318- 1 .60 6960 121/2 .40 2154 311/2* 1/8 .96 3999 653/8- 1/2 1.06 2270 411/8* 1/2 .52 9320 - 1/8 .80 3581 241/4* 3/4 1309 71/4 1.20 3610 607/6- 11/8 6005 59 - 7/8 .24 14701175/8- 1/2 2.60 5651 521/2- 1/2 .60 5543 197/8* 1/8 1.68 7449 461/2* 1/8 2 6510 44112— 518 .07] 242 75/8* 1/2 .80 2156 163/4 2.68 X6635 603/4 557 17/8 .69 490 143/8* 1/4 1.60 9355 261/6- 5/8 1.70 12335 331/8 1 1255 517/8- 5/8 2.04 10645 677/8- 5/8 1.46 2287 633/4* 11/2 1.60 12819 333/4- 1/2 .64 1248 563/6* 7/8 1.60 2874 56 * 7/8 1704 3314* 1/4 2.20 2869 411/2- 5/8 .40 5017 513/4* 2 .80 1504 291/4- 1/8 2711 95/6* 1/8 1 5960 341/2* 13/6 1.331 6440 187/8* 1/8 2.96 1874 391/8* 1/4 4.84 11671 963/4- 1/4 1.68 8514 755/8* 11/8 Johnilhn Kmirt Kroger vl LTV Cp Llllon hid vjloneStar Lowei Lubyi MIHUI UiyOSt Medtrni Mobil Monun Motorola NCNB Cp Nivlilit Nynex PinhECp PenneyJC PapBoyi Phelpi Dod PtilllpPel Polaroid i Prlmerlca ProctGimb PubS NwMx SFePacCp n S*raL SeariRoeb Shrwln a SmthBchm SmthBch eq n Southern Co SwilAlil t SwitBell SterllngChm SunCo TNP En! Tandy Templlnl Tenneco Texaco Texaelnd Texaslnil Tex Utll Tention Tyler USWit USX Mar n USX-USS n UnCarbde UnPac i UnilTech Unltel Unocal WllMI WettghEl Wohrth Xerox Cp ZenllhE 1.60 6446 96t/s_ 112 1.76 4612 411/4- 3/8 1155 175/8- 1/8 919 11/8 324 661/4- 11/8 98 33/4 .56 1278 267/8* 1/4 .50 605 161(4- 1(2 17846 83/4 1.62 3336 503/8* 1/8 .48 1022 771/4- 11/8 3.20 6337 693/4- 13/8 2.08 12062 661/8— 7/8 .76 2667 60 - 1 1.48 3866 375/8 1058 23/4 4.56 1854 777/8* 1/4 1.20 2463 307/8— 5/8 2.14 2227 411/2- 5/6 .80 2595 15 - 1/2 2.64 1329 485/8- 3/4 .13 2277 167/6* t/4 3 1556 783/4* 5/8 1.12 2200 263/8* 1/8 .60 3815 275/8* 1/2 .50 4686 361/2* 3/8 2 2449 831/6* 1/8 707 87/8 4920 111/4- 118 ta 4568 447/8* 1/8 2 5394 363/8* 5/8 .42 607 235/8 1.71e 267 705/8. 5/8 1.76e 2720 631/2* 1/4 2.14 3416 291/2- 1/4 .10 657 26314- 7/« 2.64 4266 591/4- t/4 .30 220 43/4- 1(6 ' 1.80 1558 293/8- 1/8 1.63 164 173/8 .60 1232 271/2- 1/8 .88 641 47 - 1/8 1.60 2629 363/4- 11/4 3.20 5996 643/8- 1/8 .20 66 193/8- 11/8 .72 1912 303/8- 1/8 3 3350 395/8* 1/4 1.12 26S9 37 * 5/8 7 27/8* 1/8 2.06 422S 351/2- 1/4 1.40 2054 295/8- 3/8 1 142S 291/2— 1/2 t 1501 193/8- 3/8 2593 491/8- 1/4 1.80 1774 473/4- 7/8 1 2885 231/4* 1/4 .70 2433 263/4* 3/8 .17 10447 463/6* 1/8 1.40 11606 165/8- 1/4 1.08 4899 28 - 1/4 3 1170 823/4- 7/6 976 63/8- Livestock report rTCDERKXSBUW-TheMortigtretioretjtoofi*. c*nleuaknaclcn«tMGItai|i*U»*(MkCo.,lnc.lciOcl CATTLE - 753 Can 8 bulk 1.00-200 higher Stotaf can • p*i ....sieidy St» .....SOW 6 down Mr* 2.00440 higher. Lowr quaky celwt war* 1.00400 kw*r. Al oNra Mra ttong. Packer com 40.00-51.00 cot b* 60.0048.50 c*t IMttim t Large Frame ft S»l 200-30W at 10000-130.00 CM. 30040M at 96.00-125.00 art 400-500* at 85.00-120.00 cwt 500400* at 80.00-100.00 cut Hit. 200-300* at 90.00-115.00 CM 300-400* at 90.00-110.00 CM 400-500* at 80.00-100.00 CM 500400* at 75.00-105.00 CM. Low qual* hi* 70.0040.00 OM Low <Wii« lit... 70.0045.00 CM. Co* i call pain 650.00-950.00 pt SHEEP - 889 GOATS - 784 Lambe ... . ... ... SVono Spring laifibe 35-45* at 55.0046.00 CM 4540* * 50.0MO.M art. MM* it 50.00-55.00 c*t Fat lone* 4S.OO-52.00 CM Sticker erne 30.00-50.00 M. P*ckera ewe* 12.00-32.00 CM. Seen* kkh ,.20.0040.00 hd. span* namkM 30.0045.00 hd. Spirt* mulora 6 bW«... 50.00-100.00 hd. Angora mutom 6 Uo*.._ 25.00-40.00 hd. Angora namlte. 30.0040.00 hd. 1 bk wl **.. 390* at 119.00 CM 1 wt K 490* at 104.00 cM 1 bk Mr... 545* it 104.00 urt I Bk ml »> 580* at 91.00 art. t b* wl U 410* * 115.00 cwt FREDERKKSBURQ-TfeMkwtairtMrMuiaol recent euc*»acta«t»GtioepwLK'*ilod<Co.. he. hrOet CATTLE - 1.683 Cow* I bulk... 1,00-2.00 high* StoakK cow* 4 pel* Steady Choc* hi* 1.00-ZW Mortar Sf* ....400* t up war* 1.00-2.00 higher Ughl cak/et are not a* Mong due to he lack of tin. Packet cow „ 40.00-54.50 CM Bub 60.00-70.50 cwt Mtdkm 6 l«g* Ram* It 200-300* at 100.00-130.00 CM 300400* at 96.00-125.00 CM 400-500* « K.00-110.00 CM 5004001 at 80.00-98.00 CM HI*. 200-300* II 90.00-115.00 owl 300400* at 90.00-110.00 CM 409-500* al 80.00-100.00 CM 500400* al 75.00-106.00 CM Low wait; r*»... ..70.0040.00 CM Low quatt* «l 75.0045.00 cwl Cow 6 call pat* 660.00460.00 pr. SHEEP-2.012 GOATS-832 Umtx si™, Spring Iambi MWS 35-45* at 55.0040.00 CM 45-80* al 50.00-56.00 cwt 8040* It 50.00-S5.00 CM Fit?"** - 45.00-52.00 CM god* *w*« 30.00-50.00 hd. Picker* MM 12.00-3200 owl SP»jJh kkh 20.004o;oo hf Spankh namfct $ankh muoou 4 bHH*.... ... Angora mujm 4 ttT ... Angai namkM.. 30.00-50.00 hd. t bk wl tt_... 325* at 117.00 cwl •jf* ......430* at 107.00 CM •f I* - .......350* at 108.00 CM * "I M -• - ..-.500* II 98.00 CM * 5! -••- - 510* at 109.00 CM J * «l *»-.• - -6SO* II 96.50 CM 1 «* •• 60S* U 89.50 CM TUNE-UP $ 29.95 + part* PDQ MASTERLUBE M Shinty B*k»t 1*6-7800 Miracle-Ea HEARING INSTRUMENTS AVAILABLE IN KERRVILLE A & B Hearing Aid Center 1200 Bandera Hwy. - (Frontier Pharmacy) Phone 257-8388 MIRACLE-EAR IS ONLY AVAILABLE AT MIRACLE-EAR CENTERS OPEN THURSDAY, NOVEMBER 7 1U am to 4 pm FREE HEARING TESTS 'Batteries •Free Check & Cleaning ol Hearing Aids 'Repairs ol All Aids - All Brands 'Ear Molds •All Types of Hearing Aids ^Miracle-Ear FEATURING The Incredibly Small Miracle-Ear ^^Miracle-Ear NEW TECHNOLOGY Miracle Ear has me latest technology that is available m Hearing Instruments •AUTOMATIC HEARING AID •REMOTE CONTROL HEARING AID •DIAL A FITTING HEARING AID Make an appointment and let us tall you about these significant advancement ^^Miracle-Ear (Financing Available) Call loi in »ppomlm«nl Kerrville Office Open First and Third Thursday of each month Home Office A & B Miracle Ear & Hearing Aid & Audiology Ctr. 6609 Blanco, Ste. 115 San Antonio Tx. 78216 Ph. 342-2299 Buy Batteries Anytime At Frontier Pharmacy offered in the secondary market. Sihce some of these unit trusts were originally issued several years ago when interest rates were higher, their current yields arc sometimes much higher than their ELTR yields. This led to problems in the past when unscrupulous brokers sold the funds based on apparently high cur- rent yields when the actual ELTR was much lower. It is not uncommon to see trusts with current yields of 9 percent and ELTR of 6.2 percent ELTR yields on high yield secondary funds may even be overstated when early call features are taken into account If all of this seems confusing, take heart that because of the new ELTR requirements few people will be deceived on secondary unit trusts. Tim Lldlak I* • ewtlflcd fin«nel«l pUnnw. To hava an lnv*«tm«ntt-r*latad quMtlon •nmwrad writ* Lldl«k, e/o th« K»rrvlll» Dally TJiriM m P.O. Box 1428, Ktrrvlllc, T»M« 78029. Th« KtrrvlHt Dtlly TlmM doM not •ncourag* InvMtlng In tptclfic itoek* er nMrkvt* but provide* thli column •• • Mr- vie* to H* r*ad*r». Lumber & Hardware WOODSTOVE & FIREPLACE INSERT CLINIC *ULX»! II • ® & Featuring: • Earthstovcs on Display . Proper Stove Installation • Chimney Maintenance & Safety T. Ahrcns ^ Chimney S Technique t f , i 1 ! 1 1 .<$> •"" »•>• rv •M w *rt' rt«bi*piniliitoire.j|ta«'r aa-asSsSSSk 1102 E. Main St. Fredericksburg 997-7611 NOTICE OF VOTE ON TAX RATE The 1)ivide independent School oist. conducted a public hearing on a proposal to increase your property taxes by 8 - 62 percent OH November 3, 1991 The U Si-hool Board is scheduled to vote on the tax rate at a public meeting to be held on Novem[K ' r 8 - 199! at 5:UUPM at Divide School

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