Fort Worth Star-Telegram from Fort Worth, Texas • 21

4 It Al' i FS 1j 0 004" Li 1 5B 1 Star-Telegram I I WEDNESDAY MORNING JUNE 2 1982 Ilb Star-Telegram WEDNESDAY MORNING JUNE 2 1982 JE 5B be 2siterfie-q-'''- -I i 11::: i :1 1 1 Ikl 1 i4 14:: 4 gi T7-'-' 4 1 I -144j i'Z: mg 6i 1si 4 'i I 4 -'71 iiii 1--- 41'11 i i 14 1 LZ: as "Or(101a44ai: I ii 1 er- 4 1 1 sr- rip --Z loorvk 1 rpo e411 0 vvc i 4: 41 4 I 41 i- is 'ItYb7PN 1i-- Mr'N 1 1 :) cx lii 4 r- :1 HOTEL CONVERSION planned by Tom Yater left and Marshall Young Truc Tirm acqt One of would I By ARM Stur-Telegra A Da llas-basl fly ABF Freigl almost double flounced acqui Motor Freight proved by the fi If the Interst mission approv ABF expects it the resulting sixth largest fr road with 158 combined rev( million In 198 of $292 million nues of $200 The pendir flounced Tues( second in thre freight carri( Freight Lines terminals for For ABF Fre' ting rights to 41 nals Arkansw parent compai Dallas-based B' parent compal shares of its pt former ABF te tie Rock ABF is not a( truck terminal them would "I rier a spokesm plans to lease I are currently Best Corp by companies Arkansas Be will give ABF Texas for a tot in Fort Worth operation to III ly served 1 Utah Virginia will substantia erations in Cal: igan and Noll' The acquisit the closing of that have bott minals but nu will be hired l'Q spokesman sai After the cic Please see A 4451114 ti '0 1 7i Iii iLittmiti Igyn 11:4 I One of would By WARREN Star-Telegram A Dallas-based ABF Freight almost double Motor Freight by the If the Interstate approves ABF expects it the resulting sixth largest road with 158 combined million In 1981 of $292 million of $200 The pending Tuesday second in three freight carrier Freight Lines terminals for For ABF rights to 44 Arkansas parent company Dallas-based parent company shares of its former ABF Rock ABF is not truck terminals them would a spokesman plans to lease are currently Best Corp by companies Arkansas Best will give ABF Texas for a total in Fort Worth operation to five served Utah Virginia will substantially in and North The acquisition the closing of that have both but will be hired by spokesman said After the see i ''1' 1 i Historic North Side building due conversion to luxury hotel By MICHELLE SCOTT Star-Telegram Writer Customers of Texas Electric Service Co could be oaying higher rates and some TESCO employees could find themselves in new jobs if a review underway indicates TESCO and its two sister companies should be consolidated TESCO spokesman George Hedrick said Tuesday Hedrick said Texas Utilities Co is considering combining its three operating companies TESCO Texas Power Light Co and Dallas Power Light Co into a single electric utility that would serve customers now served by the three companies Hedrick said he doesn't know whether rates would change under the new organization Electricity prices vary among the three companies Each has its own rate structure based on cost of service "This would be something you couldn't speculate on at this time" he said TESCO customers during May paid $6873 for 1000 kilowatt hours of electricity compared to $7269 paid by customers and $6614 paid by customers However a TF1111 rate increase effective July 1 is likely to push that company's rates above those of TESCO leaving TEsco customers paying less for their electricity than customers of the other companies Hedrick said "A preliminary review indicates that it may be advantageous to form a single electric utility whose divisions would be the present three operating utilities along with a fourth division primarily responsible for power plant engineering design construction and operation" Hedrick said Each of the companies currently has its own engineering design construction and operation divisions he said Findings of the preliminary review were announced at a Texas Utilities shareholders' meeting May By MIKE NORMAN Star-telegram Business Writer Alvarado businessman Tom Yater and Cleburne construction company executive Marshall Young have purchased the landmark Thannisch Building at North Main and Exchange Avenue and plan to turn the building into a Itlxury hotel serving Fort Worth's historic Stockyards area "We believe in just a short time the Fort Worth Stockyards will be the top tourist center for Tex as if not the Southwest region" said Yater "Our hotel will offer an authentic step back in time for Fort Worth visitors who want to enjoy the traditions of the Old West" Property owners business executives and community leaders from throughout Fort Worth have banded together to form the Stockyards District Association a non-profit organization aimed at providing for the pres In recent years parts of the building have fallen into disrepair About 50 to 70 persons were living in the hotel since renamed the Right Hotel last August when it was closed by the city's public health department Numerous health code violations including non-working plumbing and filthy mattresses were given as reasons for the order to close Miss Withers said when the hotel was closed that she had not known the problems had become so serious She said the building would be put "back on the right track" "But that might take a little while because we don't want the same thing to happen again" Miss Withers said "We're going to wait until we can find the right people and the right situation It will be a nice place again" Please see Hotel on Page 7 21 he said A formal review under direction of a management committee made up of Texas Utilities company presidents began immediately following the meeting Hedrick said the committee is not expected to complete its review for "several months" Any speculation or assumption about conclusions would be premature at this time he said 0 Present TESCO customers would continue to be TESCO customers and should not notice any change in their electric service provided by TESCO he said Changes would be administrative within the Texas Utilities system "Any revision of the present ganizational structure of the Texas Utilities Co system will be aimed at providing as much flexibility as possible for achieving economies and more efficient operation throughout the system" Hedrick said He said the committee-will review utilization of personnel efficient use of plant facilities possible standardization of equipment and closer planning coordination There are no plans to demote or lay off people employed by any of the three companies because of the review said Hedrick However the review is expected to show how employees might be more efficiently and effectively used Requirements for restructuring the company would have to be approved by the Texas Public Utilities Commission he said If approval from other regulatory agencies is needed it would be sought by the company he said No time limit has been set forthe review Hedrick said the preliminary review was launched as a result of continual review of operations "There are a number of areas in which the companies duplicate activities" he said "One of the things we've cooperated in for a number of years is joint construction of power plants" told KXAS-TV that attorneys fO'r both airlines have met and discussed the possibility of such an agreement but that talks were In the preliminary stages and it was too early to speculate on what form any agreement might take Coats said senior management officials of the two airlines have nca met to discuss any possible joint operation acquisition or merger He said the talks have been between attorneys for the two carriers and he advised former Braniff employees not to abandon an job prospects in hope the airline will fly again any time soon tional legislation we get for this sesssion One bill to provide this relief has already passed the House and the Senate is expected to consider that version and a second measure intro duced in the Senate The measures differ on the amount of relief and the funding for the programs Eut in the future when savings and loan executives think of relief they probably won't be spelling it DIDC That acronym is for the Depository Institutions Deregulatory Committee which has been charged with controlling the pace of deposit Please see No on Page 7 1iuking largest be result VOLKMANN Business Writer trucking company Systems Inc will in size if its just-announced acquisition of East Texas Lines Inc is approved federal government Commerce Commission the acquisition as will in the fall then company will be the freight carrier on the truck terminals and revenues of about $500 ABF had revenues and ETMF had revenues million acquisition announced would be ABF's years In 1979 the bought Navajo of Denver with its 47 $16 million Freight to acquire operating of ETMF's 100 terminals Best Corp ABF's will turn over to Bright Industries Inc of ETMF 150000 preferNd stock plus a terminal facility in Little actually buying the 44 The cost of buying "kill" the freight carrier said Instead ABF the terminals which leased to Arkansas it's own subsidiary said the acquisition 16 more terminals in of 26 including one It will expand ABF's states not previously Washington Oregon and Florida and increase ABF's operations California Illinois Michigan Carolina will also result in 56 terminals in cities ABF and ETMF terminals many ETMF employees ABF in those cities a closing of the ETMF ter-Please Trucking on Page 7 Buildings planned on Hu len By MIKE NORMAN Star-Telegram Business Writer Two Crowns Inc a Fort Worth development and investment firm has started construction of a two-story office building at Hu len and Loop 820 and has announced plans for a four-story office building at Hu len and Vickery Executive Place a 50000-squarefoot building on the northeast corner of Hulen and Loop 820 is expected to be completed during the first quarter of 1983 Groundbreaking for McCall Place a 44000-squarefoot project on the northeast corner of Hulen and Vickery is scheduled to take place within the next 60 days said Two Crowns President Robert Wright and Vice President Victor McCall Two Crowns Inc has developed and owns four other office buildings along Hulen most near the Vickery intersection in southwest Fort Worth "All of our buildings have leased quickly" said Wright "We saw a need for more office space on Hulen because of the requests for more space than we have in our existing buildings" Wright is a Fort Worth architect and McCall a local radiologist The two have been developing real estate projects together since 1973 specializing in small- to mid-sized office buildings along Hulen The growth of Southwest Fort Worth gra- i14ili4 r'''' '1kitit 44 ii 4 it i bun plan on By MIK Star-Telegral Two Crowns development al has started cor story office bui Loop 820 and for a four-stor Hulen and Vici Executive Pl foot building a nerofHulenan ed to be complc quarter of 198 for McCall Pla foot project on of Hulen and to take place wit said Two Crow Wright and McCall Two Crowns and owns four ings along Hu Vickery inters Fort Worth "All of our quickly" said need for more because of thc space than we buildings" EXECUTIVE Airport expects legal fees in Braniff case to be large )'4-hlfilh'Ii4 ro'''ri -1 :4 ":::::1::: 1p ::11 011Sik-7-7-: Ei '1 oiw1' 4 tT----34 1 -i" '1 1 1 1-:" 1 il 1 PLACE at Hu len and Pan American and Braniff are continuing discussions ervation and orderly redevelopment of the stockyards district The hotel to be restored by Yater and Young will have 52 rooms as well as a restaurant and lounge styled in early 1900 frontier designs Seller of the three-story building was Frances Withers and family heirs of the Thannisch estate Miss Withers is the granddaughter of the late TM Thannisch an entrepreneur who purchased the site of the building at the turn of the century when it was still marshland Thannisch began developing his property in 1906 after learning of a city plan to run a trolley line from downtown to the north-side packing plants He built the first three-story brick building on in the northside commercial district His property became known as the Thannisch Block containing the Chandler Hotel and the Stockyards Club Bar Loop 820 at Hu len and Vickery before it was ready to go" he said Buff-colored brick and bronze glass will make up the exterior of the two-story Executive Place Landscaping will include courtyards and walkways Interior design will include brick walls and a color scheme of grape and mauve tones with interior landscaping to create an atrium effect McCall Place at Buten and Vickery will have a contemporary exterior combining brick and bronze glass Interior design will include custom-designed macrame art and tropical plants "McCall Place is already 25 percent preleased and it hasn't even broken ground" Wright said "New tenants are for the most part doctors and other professionals" The building also will include a pharmacy Ilalmac Inc a subsidiary of Two Crowns Inc is the leasing and management firm for Executive Place and McCall Place Both projects were designed by Wright and Blankenship Architects By JIM FUQUAY Star-Telegram Business Writer DallasFort Worth Airport Board Tuesday authorized the first pay ment for attorney's fees arising from the Braniff International Corp bankruptcy in what airport officials warn likely will become a "substantial" expense The board at its regular monthly meeting approved a $15000 agree ment with the Dallas law firm of Strasburger Price But that is only an initial amount The final legal bill "will be much more than that" Ernest Dean airport executive director told board members "You know it's going to be substantial" he said Braniff owed DFIV about $18 million in outstanding invoices when the airline declared bankruptcy on May 13 The airport since has petitioned US Bankruptcy Court Judge John Flowers to allow the airport to lease Branif f's airport Please see Large on Page 7 :4:: to 1 -et' N1 i -7 ii 'k t'4- '-4 l'''' 'U liti1'''' :0 i 1: i 1 4400 4: ii- 1rs A''' 04ii14 F7 4 '1e'-4 '1 A-17'''ip ''''467 '''''''cl'''' 1 From Staff and Wire Reports Pan American World Airways and grounded Braniff International are involved in "continuing" discussions that could put some of Braniff's planes back in the air a Pan Am official told the Star-Telegram Tuesday "On May 24 we were presented a proposal for a contract-services agreement in which Braniff would operate flights on Braniff's route system in Pan Am's name" said James A Arey system director-public relations for Pan American Arey added that the proposal was Initiated by Braniff Sam Coats Braniff vice president Lawmakers in Washington may also move thoughto speed the pace of deposit deregulation which could raise the cost of attracting money for institutions already unable to cover the cost of deposits Despite all the talk about reshaping the financial landscape the only Job Congress is likely to deal with this election year in the financial realm will be aiding the ailing thrift industry "I see thrift (industry) assistance as the minimum" this session noted Wall adding that savings and loan assistance "will be the engine for transporting whatever addi No easy relief is foreseen for hard-put industry McCALL PLACE has brought success to their development strategy McCall said "We picked a good street" he said "We know- that area and like it" The two have been working on their Executive Place project at Hu len and Loop 820 for the past three years waiting for the office market and their own development plans to mesh before beginning construction Wright said Now that work on the building has started they have erected a large sign at the site read ing "Finally!" "That's the development business" Wright said "It's hard to say for sure when a project is going to be ready to go" Word of their plans for Executive Place circulated in local real estate circles long before Wright and McCall were ready to announce their intentions publicly McCall said the two held off until they were sure their plans weren't going to fall through "Too many people have been embarrassed by annowicing a project By STEPHEN RASSENFOSS Star-Telegram Business Writer DALLAS Savings and loan associations can expect some short-term relief from Congress this session but a top aide on the Senate Banking Housing and Urban Affairs Committee warned that the relief package could be followed by some bitter medicine The expected relief will come from loans of capital to prop up money-losing thrift institutions that are running low on reserves said Danny Wall staff director of the committee at an American Bankers Association-sponsored conference in Dallas -11 i.