The Marshall News Messenger from Marshall, Texas • 29

Mm Marshall News Messenger Sunday, February 15, 1981 Section ABF Freight -f! Urn 0 Nabers proposes bank tax change U4 1 -a opens in Marshall Grand opening ceremonies acquired. This was also the year were held Thursday for ABF R.A. Young purchased the Freight Systems located at company, which had revenues of 1902 E. Houston SI $3,356,000 annually. The company is one of the major trucking companies in the country, ranking eighth in size with approximately $260 million in revenues recorded for 1960.

The firm has 106 terminals 1 i nationwide and serves more than IW1 raulai1v Th Association and the Independent Bankers Association of Texas. He said banks have filed about 100 lawsuits to have the property tax on bank stock declared unconstitutional. Nabers represents the three Brownwood banks in one of the suits. "Banks are now paying five times as much in taxes as other corporations. Competitive financial institutions pay no such taxes, which compounds the inequity," Nabers said.

"This bill would resolve the problem by placing banking corporations under the same tax system as other corporations. At the same time, it would assure local governments of at least part of the revenues they stand to lose if the U.S. Supreme Court ultimately rules they have been assessing the tax in an unconstitutional manner, which I predict will happen," he said. AUSTIN, Texas (AP) Rep. Lynn Nabers, D-B row wood, says courts probably will strike down property taxes on bank stock, depriving local governments of revenue unless the Legislature acts.

He introduced a bffl'Thursday that would repeal property taxation of bank stock while placing the banks under. the state corporate franchise tax of $415 per $1,000 of capital and surplus. The state would rebate the franchise tax to local governments according to a formula based on local property tax rates. Nabers acknowledged this would be an Incentive for some cities to raise their tax rates to capture more bank tax revenue. He also said the effect of his bill would be to reduce taxes on banks.

Nabers said the -bill was approved by the Texas Bankers The company name was changed to Arkansas-Best Freight System Inc. In October 1962. Delta Motor Line was acquired giving the firm co-authority through the Mississippi Valley to New Orleans and pushing revenues up to $16,855,000. Youngblood Truck Lines was acquired in 1971, giving authority into North Carolina, Georgia and South Carolina. Expansion into New England came in 1976, followed by the largest acquisition of all in 1977 Navajo Freight Lines.

Robert Young is president of ABF, the subsidiary of Arkansas Best Corp. freight company also offers connection line service to most other United States points as well as Hawaii, Alaska, Canada and the European continent. Started in 1917, the company has expanded several times. ABF began as P.C. Motor Freight Lines, having authority between Fort Smith, southward to Texarkana.

In March 1935, Arkansas Motor Freight was Ribbon-cutting ceremonies were held Thursday at ABF Freight Systems Inc. On hand for the grand opening were, left to right: Alma Roberts, Marshall Ambassador representative; Leslie Blalock, area sales representative for ABF; City Manager Harold Lanham; and ABF Branch Manager Bruce Gann. Also pictured on the back row are Joel Truelove, Greater Marshall Chamber of Commerce president and Glenn Roddy, operations manager at ABF. NEW YORK (AP) How lon can I good small business survive while paying interest rates that exceed a percent? The answer isn't precise; it's not like predcting that a certain percentage of the citrus or coffee crops will be ruined if temperatures dp below 27 degrees and stay there for 10 hours on a windless night But it is certain that a large number will wither on the vine, so to speak, and that those wbo survive will have suffered severe, probably lifelong, damage in terms of income, Jobs, expansion, and confidence. Unlike big companies, which enjoy the advatanges of volume and the market power to make price increases stick, many smaller businesses have little choice but to absorb the cost of higher interest rates.

"The increases are nothing short of catastrophic," said Professors William DunkeJberg of Purdue University and Jonathan Scott of Southern Methodist University in their most recent analysis of small-business trends. The two professors, who regularly conduct surveys among a sampling of the 540,000 members of the National Federation of Independent Business, found that in the fourth quarter of 1980 the proportion of firms paying 19 percent or more rose from 7 percent to 31 percent of all borrowers. More than 60 percent of the respondents said they paid 16 percent to percent, and 4 percent said they had paid 23 percent or more. And the figures reported from firms in large urban areas were even worse. "Loana in rural areas likely include more agricultual loans and loans made by smaller banks with long-term business associations with their customer firms," the professors said.

In addition, they noted, operating costs are lower for financial! institutions in rural areas. In all, they said, credit developments were "disastrous" for small business, and they explained: Complicating the small business predicament, say the authors, is a worsening tax situation that forces firms to borrow at the worst possible time. In other words, one added expense creates another. How long can small business survive under such conditions? To the limits of the ingenuity and resourcefulness and hope of those involved Well known for these and other survival talents, they nevertheless might be near Ing their limits unless interest rates drop. They have used their ingenuity and resourcefulness.

They are now, they indicate, tapping their reservoir of nope. LIU JLlVJ LLjYALSfej ooo Vfovli place Mo-Pac to build overpass ST. LOUIS, Mo. Missouri Pacific Railroad has budgeted more than $25.6 million in 1981 for 30 physical improvement projects In Texas, including pin overpast to be constructed in Marshall to replace existing overpasses it Virginia Avenue and East Avenue. MPk employs more than 6,900 people in Texas and had an estimated i960 payroll in the state of $158 million.

Throughout its U-state service area, Mo-Pac plans to spend $117 million for physical Improvements during the year. In addition, Mo-Pac has initially budgeted $148 million for 100 locomotives and 2,200 units of freight equipment Missouri Pacific Railroad spends, annually, about $260 million in its service area for normal operating supplies and materials. The railroad's annual expenditures for maintenance of rail lines and equipment total nearly $650 million. Mm, you can't get more. But we don't -Storuherex Auto visitors spending soars AUSTIN Daily spending by auto visitors to Texas soared in the first half of I960.

Texas visitors who averaged a week's stay coughed up $5.50 more per day for their trips in the January-through-June 1960 period compared to the previous year. Tom H. Taylor, director of the Travel and Information Division of the State Department of Highways and Public Transportation said out-of-staters who traveled to Texas by automobile spent an avearge of $63.11 per party per day, 30 percent more than they spent during the same period in 1979. Although auto expenses took the biggest bite, 27 cents, from the visitor's travel dollar, food at 23.6 cents, and lodging costs at 23.2 cents were, not far behind. Entertainment and miscellaneous expenses accounted for the remainder.

We work hard to do more for our customers. That begins with listening. We pay attention to your hopes and dreams, in your personal life as well as your business. We think that the extra effort we put out for our customers is the prime reason we have had such a solid growth. Our customers have made us the largest independent bank in the Marshall Longview SMSA.

If you are one of our customers, we appreciate your business and pledge to you our continued best efforts on your behalf. Keep expecting more; we will do more. If you are not one of our cus A good customer and friend of the First came by to see us lateJasU year wanting to know how these new NOW. accounts work. So we explained all about these interest paying checking accounts, pointing out that the First would pay the maximum rate of interest permitted by law.

The customer smiled and said, "I know that. But the reason I bank with the First is that you pay more than interest you pay attention." Well, that struck us pretty good. And the more we thought about it, the more we thought that our customer friend had hit the nail square on the head. Paying attention to our customers' needs is exactly what we try to do. We are a full service bank and that means we offer every financial service you can get from any financial institution large, small, or deduction or credit you can claim for yWUI WllilWillril III personal exemption.

tomers, why not take time to stop FALSE. For cxantolc, if yours is a two-income by and get acquainted. You'll get our atten tion with interest. otherwise, You can get less, but household, and you, incur child care expenses, you should know what Form 2441 means to you If you don't, Block docs. We'll take the time necessary to undent and your complete situation, because if you qualify you may be eligible for up to an $800 lax credit for child care.

YVEU MAKE THE TAX LAWS WOCX FOR YOU The First National Bank OF MARSHALL, TEXAS THE INCOME TAX PEOPLE 202 E. End Boulevard (Kroger Shopping Ctr.) Open 9 AM-9 PM Weekdays 9-5 Sat Phone 933-6333 APPOINTMENTS AVAILABLE Sun Ewh mx'imM imuntl ufv up lo I HW.ooo..