The Salina Journal from Salina, Kansas on January 5, 1986 · Page 23
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The Salina Journal from Salina, Kansas · Page 23

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Salina, Kansas
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Sunday, January 5, 1986
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Page 23
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The Salina Journal Sunday, January 5,1986 Page 23 Bank fees may rise faster than interest rates NEW YORK - For banking customers, the final act of the Great Deregulation Drama is ready to unfold. The government is ending all formal restraints on small accounts. Starting Jan. 1, even the smallest depositor (with less than $1,000) can — theoretically — have a money- market deposit account, a 7- to 31-day certificate of deposit and a market- rate, interest-paying checking account (Super NOW). Starting March 31, all interest-rate ceilings will pass into history. Banks and S&Ls will be able to pay what they want, even on small passbook accounts. The $64 dollar question, of course, is: What do the bankers want to pay? The answer appears to be: Not much, if you have only a small amount of money. It's entirely possible that this final phase of deregulation will raise the fees charged by banks and S&Ls faster than they raise interest. You'll have to play the system like a piano, to come out ahead. Here's what's going to be happening early this year: • Your ready savings: Interest rates on money-market accounts now average 6.6 percent, according to the Bank Rate Monitor, compared with 5.25 to 5.5 percent on passbook accounts. Yet $301.6 billion is still Personals Jane Bryant Quinn WASHINGTON POST carelessly stashed in the lower-rate deposits. Many banks and S&Ls like that just fine, and won't be advertising higher- rate savings to their passbook depositors. To discourage switching, some institutions will retain their present, $1,000 minimum deposit on money- market accounts. Some will lower the minimum to $500 or $250, but will pay no more than 5.5 percent interest on the first $1,000 in the account. Some may pay no interest at all on deposits under $100 or so. You can also expect to find higher fees for money-market deposits under $500 to $1,000, and higher charges for writing checks against your savings, or making automatic teller machine (ATM) withdrawals.- What to do? Move your money out of passbook accounts, if you have more than $1,000 in savings. The higher interest rate will probably offset any fees. But keep an eye on the "tiers" in money-market savings. Increasingly, banks are paying low rates on, say, the first $1,000 in your account; a market rate up to $50,000 or so; and above-market rates on higher amounts. But they calculate your interest payments in various ways. Some will pay you the lowest interest allowed if your monthly balance falls below $1,000 for just one day — which can greatly reduce your total earnings. Others will base your interest on the daily balance or average balance in your account for the month. Some, in the example above, will pay a high rate on your whole deposit if it exceeds $1,000. Others cut your earnings by paying high rates only on the portion above $1,000. If you have less than $1,000, compare passbook and money-market savings accounts carefully. Very small depositors may find that they net more, after fees, by sticking to passbooks. Both large and small savers earn more by switching their money out of banks and into money : market mutual funds, whose current yield, according to the Donoghue Money Fund Report, is 7.2 percent. Starting March 31, some institutions may be offering 6 percent or so on passbook accounts, says Edward Katz, president of The Am- algamated Bank of New York. You also may find some extras thrown in, to discourage you from seeking higher-interest deposits: perhaps no- fee credit cards or free travelers checks. If you have less than $500 to $100, however, passbook accounts may be a dud. Many institutions pay no interest at all on such small amounts, and some even charge fees. If you find that your small passbook account is costing you money, look for another bank or S&L; consider a credit union; or — last resort — stash the money in a coffee can on the closet shelf. • Your checking account: Banks will gradually combine Super NOW and NOW accounts into a single, interest-paying checking account. But you may get no interest at all on balances under $1,000, and extra fees may be imposed if you write your account down to $100 or less. Fees are also going up for writing checks and using ATMs. If you keep a substantial amount of money in a checking account, the new interest-paying NOW is the place to be. But if you pretty much empty your account by the end of the month, you may find yourself better off with old-fashioned, no-interest checking. Mid America Inn Restaurant SUNDAY BRUNCH llam-2pm $ fit Off Free Sundae 1842N. 9th Salina,, KS RALPH WEIGEL Bonds - Insurance Phone 827-2906 115 East Iron Firm adds three partners Bucher, Willis & Ratliff, Consulting Engineers, Planners & Architects, headquartered in Salina, has named three new partners and two associates effective Jan. 1. The new partners are Steve D. Carr, R. David Miller and James R. Swanson. Thomas E. McMahon and Donald L. Klapmeyer have been named associates. Carr Carr, who joined the firm in 1976, has bachelor's degrees in architectural design and architectural structures from Kansas State University, and is a registered professional engineer in Kansas. He will succeed Shelby Willis as partner-in- charge of structural engineering for the firm. Miller earned a bachelor's degree in mechanical engineering from Kansas State University in 1976. He is a registered professional engineer in Kansas and will serve as partner-in- charge of mechanical and electrical engineering for the firm. Swanson joined the Salina office of Bucher, Willis & Ratliff in 1975. He earned a bachelor's degree in civil engineering from the University of Nebraska and is a registered professional engineer in Kansas, Missouri and Nebraska. He worked as an environmental engineer in Salina until he was transferred in 1984. Swanson will serve as partner-in-charge and chief engineer in the Hays office. McMahon joined the firm in 1984 after having served 10 years in charge of all wastewater collection Miller Swanson and treatment facilities in the City of Topeka. He received a bachelor's degree in civil engineering in 1950 and a master's degree in environmental health engineering in 1967 from the University of Kansas. McMahon, a registered professional engineer, has worked as an environmental engineer in the Salina office. As an associate, he will be transferred to the Kansas City, Mo., office where he will be in charge of environmental engineering. Klapmeyer was employed by Bucher, Willis & Ratliff from 1966 to 1968, and from 1970 to 1975. He received a bachelor's degree in civil engineering from the University of Kansas in 1975, and rejoined the firm in 1983. He is a registered professional engineer in Kansas and Missouri. Klapmeyer serves in the civil engineering department in the Kansas City, Mo., office. Bucher, Willis & Ratliff completed its most successful year in 1985 with an annual volume exceeding $10 million and a record profit, founding partner Shelby K. Willis reported. The firm was founded in 1957 by Willis and James D. Bucher. Today, it employs more than 200 people in six offices in Kansas, Missouri, Illinois and Texas. Laging joins St. John's Jon W. Laging has joined the staff of St. John's Hospital as personnel director. He also will have responsibility in personnel matters at the hospital's numerous Chemical Dependency Treatment Center satellite units in Kansas and Oklahoma. Laging has 25 years experience in the hospital field and 18 years experience in personnel administration. The South Dakota native is a graduate . of Hamline Uni- Laging versity in St. Paul, Minn. Laging has worked in management at Rochester Methodist Hospital in Rochester, Minn., as director of personnel at McKennan Hospital in Sioux Falls, S.D., and as a compensation classification specialist at the University Medical Center, Tucson, Ariz. Neuman joins Bell staff David J. Neuman has joined Bell Telephone Employees Credit Union as a loan officer in the consumer loan department. He will begin his duties Monday. Neuman, a native of Kanopolis, graduated from Brown Mackie College in 1974, and has worked the past 11 years at National Bank of America. Neuman McDonald's honors two Michael Gordon, administrative assistant and training coordinator for both Salina McDonald's restaurants, recently was honored for 10 years of service. Jack Manion, store manager, was honored for 15 years of service to McDonald's. Manion started working part time as a high school student on the first day McDonald's opened in Salina in 1970. Herman joins OMLI firm Darrell Herman, formerly of Best Western Farms and Ranches, has become a Realtor with OMLI and Associates, 604 Barney. He will continue to specialize in farm real estate in Lincoln and Ellsworth counties. Petroleum firm acquires Midcon By The New York Times NEW YORK — The Occidental Petroleum Corp. Wednesday agreed to acquire the Midcon Corp., the owner of one of the largest natural gas pipelines in the United States, for more than $3 billion. For Occidental, the nation's ninth biggest oil company, the Midcon deal would be its second major acquisition in the last three years. In late 1982, Occidental purchased a rival, the Cities Service Co., for $7 billion. It was the acquisition of Cities Service, which has 2.5 trillion cubic feet of natural gas in the ground in addition to its oil reserves, that made the purchase of Midcon not only attractive but also necessary, according to Dr. Armand Hammer, the 87- year-old chairman of Occidental. Business briefs Jones opens interior shop Gail Jones has opened Gail Jones Interiors at 1503 S. Ninth, also the location of Wiley's Stained Glass. Jones offers custom window treatments, wall coverings, floor coverings, silk trees and accessories. He also will provide room analysis by appointment, giving advice on color correlating, furniture placement, picture groupings and plant arrangements. Hours are from 9:30 a.m. to 5:30 p.m. Monday through Friday, and from 9:30 a.m. to 4 p.m. on Saturdays. Jones is a design graduate of Wichita State University and has 16 years experience in design. Support Center relocates Family Support Center and Oasis I has moved to a new location at 225 S. Santa Fe Suite B. Family Support Center is an in-home family counseling service, and Oasis I is a tempo- rary run-away youth shelter program. The center employs six people in Salina, and is part of United Methodist Youthville Inc. of Newton. Diet Center moves office The Diet Center has moved from 211 W. Cloud to a new location at 322 W. Cloud. The business offers weight loss programs and counseling. Ramada introduces TIPS PHOENIX, Ariz. — Ramada Inns Inc. has introduced a program to promote responsible drinking at its U.S. properties. Beginning this month, food and beverage management and alcohol servers will take part in the TIPS (Training for Intervention Procedures by Servers of Alcohol) training program, developed by the Health Education Foundation. Salina's Ramada Inn is at 1951 N. Ninth. Your Best Interests Are With Us. 7-10 YEAR C.D. $1,000 minimum 5-7 YEAR C.D. $1,000 minimum 3-5 YEAR C.D. $1,000 minimum 2 1 /> YEAR C.D. $1,000 minimum 6 MONTH C.D. $10,000 minimum 9.65 %* 9.40%* 9.15%* 9.00%* 8.10%** Kansas Wesleyan announces upcoming business seminars Kansas Wesleyan University is offering five seminars during the spring 1986 semester for employees and managers. The personal and organizational growth programs will be: • Making Things Happen Through Positive Assertiveness, Jan. 17. • Getting Results Through Goal Setting, Feb. 21. • Organizing and Controlling Time, Mar. 21. • Building Success Attitudes Through a Positive Self-image and Effective Communication, Apr. 18. • Confronting Constructively and Dealing Creatively with Conflict, May 16. All of the seminars will be from 8:30 a.m. to 3 p.m. in the Stewart Conference Room in Pfeiffer Hall on the KW campus. The seminar leader will be Phil Coleman, management and sales consultant and motivational speaker for Jack Parr Associates, Salina. The cost is $45 a person for each seminar, or $40 a person if three or more employees from the same company are enrolled for the same seminar. If the same person is enrolled in three or more of the seminars, the cost for each seminar will be $40.. Pre-registration jg required and is due the Mqnday before each seminar. s you can see, you get top-of-the-market interest . . rates on certificates of deposit. Plus we take personal interest in you, our customer. So for prompt, professional, personal attention and top rates, get in touch with us. It's in your best interest. •Interest paid or compounded annually. "Interest paid at maturity. Rates subject to change. Slightly lower interest rates on certificates with monthly, quarterly, or semi-annual interest distribution. Substantial penalty for early withdrawal. ______ All Accounts Available for IRA Deposits. Over$1 billion in assets. 19 Offices. Peoples Heritage Federal Savings Salina / 2070 S. Ohio / 825-6201 104 E. Iron / 827-7257 "We "Jo Pl ease 252 S. SANTA FE 825-2967 TYPESETTING/LAYOUT BUSINESS FORMS FLYERS BOOKLETS BROCHURES' (located in Bob-Kat Kwik Print) 9.25% 9.00% 10.125% U.S. GOVERNMENT GUARANTEED BONDS FEDERAL INCOME TAX-FREE* MUNICIPAL BONDS IRAANDKEOGH** RETIREMENT PLANS •Interest may be subject to state and local taxes "Based on A-rated Corporated Bonds Rates Expressed As Yield To Maturity Edward D. Jon** IrCo. Mimtxr New York Slock Etchings, Inc "Mamtwt Securities investor Protection Corpoution lack Schwartz Registered Representative 111S. Fifth, Salina, Ks. 913-823-5133 (Call Collect) Jack Schwartz & Kansas Tech ENGINEERING SCIENCE TECHNOLOGY LOTUS 1-2-3 WORKSHOPS Workshop 1: Fridays, 8:30 am to 3:00 pm, Jan. 10,17 & 24 Workshop 2: Mondays & Wednesdays, 6:45 pm to 9:00 pm, Jan. 20-Feb. 5 Lotus 1-2-3 is a spread sheet software package that has immediate and practical applications for every business and every computer operator. This is a HANDS-ON workshop that will allow you to work through the LOTUS applications in a manner that will assure you of gaining a working knowledge of the software and its uses. It will be valuable to beginners as well as intermediate LOTUS users. Topics include: 1) Basic Operations, 2) Formulas, Formating, Ranges, 3) Editing, Printing, Files, 4) Graphics, 5) Database Management, 6) What-lf Analysis, 7) Macros. Each person will have one-on-one use of a microcomputer to work with throughout the session. Mr. Lee Gatton, Assistant Professor of Electronics Technology will instruct the workshops. Enrollment is limited to 15. The fee is $95. To reserve a spot in either workshop, call KTI Continuing Education, at 825-0275 Ext. 452. Culligan — now in 91 countries All sizes, types of Industrial Water Treatment Systems Softening, filtration, deionization, chemical treatment, reverse osmosis, waste water treatment for commercial, industrial institutional needs. Our products are standardized production line models which are delivered ready for point-of-use installation. Complete local Call us for professional analysis of your water supply, engineering consultation. There is no cost or obligation. WP. TRKAT WATI'.H SHRIOUSLY . QUALITY WATER

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