The Baytown Sun from Baytown, Texas on April 24, 1986 · Page 19
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The Baytown Sun from Baytown, Texas · Page 19

Baytown, Texas
Issue Date:
Thursday, April 24, 1986
Page 19
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Page 19 article text (OCR)

THE BAYTOWN SU!N Justices doubt Gramm-Rudman law Thursday, April it. 7-* WASHINGTON (AP) - The future of a law requiring a balanced federal budget by 1991 is in the hands of the Supreme Court, with at least some justices expressing doubts about its constitutionality. During two hours of arguments Wednesday pitting the White House against Con- •gress, some members of the court voiced skepticism about a key provision of the law, the Gramm-Rudman Act. The confrontation focuses on ,the role of the comptroller • general, until now an obscure of' ficial who heads the General Accounting Office, a congressional watchdog and auditing agency. Under Gramm-Rudman, Com- ;ptroller General Charles Bowsher is assigned the task of determining deficit-reduction figures that must be implemented automatically. Steven R. Ross, representing the bipartisan leadership of the House, said the comptroller general was picked for the job because of his independence, "to insure these calculations were walled off from political considerations." But the justices seemed skeptical. Chief Justice Warren E. Burger suggested defenders of the law were conceding the role of the comptroller general "is slightly unconstitutional." Justice Sandra Day O'Connor asked Ross, "Wouldn't you concede the historic role of the com- ptroller general Is an employee of the legislative branch?" And Justice William H. Rehnquist, recalling his days as a Justice Department lawyer in the Nixon administration, added: "If the president wanted a favorable opinion, he went to the attorney general. If Congress wanted a favorable opinion, it went to the comptroller general." The remark elicited laughter from the packed courtroom that included some two dozen members of Congress. In the audience were Sens. Phil Gramm. R-Texas, and Warren Rudman, R-N.H., sponsors of the balanced-budget law. They told reporters afterward they were optimistic the court will uphold the law. "It is unlikely the court might overturn a major piece of legislation" on a relative technicality, Rudman said. "We feel confident of the outcome," added Gramm. But White House budget director James iMiller said he expected the justices to strike down the comptroller general's role in the deficit-reduction law Nonetheless, he said. "Gramm-Rudman will still live. I think the process will work. It will go forward " The Reagan administration is helping lead the attack on the constitutionality of the comptroller general's role. The court is expected to decide the case bv July. Senate opposes Reagan's budget plan WASHINGTON (AP) — The Republican-led Senate, in its first two votes on the fiscal 1987 budget, reasserted its view that domestic programs must be maintained even if that means challenging President Reagan's opposition to a tax increase. By an 83-14 vote Wednesday, the lawmakers rejected an amendment to include in the Senate budget Reagan's proposal to terminate 44 domestic spending programs. The overwhelming majority refused to end the politically popular programs even though they will cost S4 billion in taxes next year. The Senate then voted 60-38 to add $300 million in new taxes — above the $18.7 billion already proposed by the Senate Budget Committee — to cover increased education spending. "The Senate seems to be going in the wrong direction — more spending and more taxes," said Ed Dale, spokesman for the president's Office of Management and Budget. Fie called the vote on the 44 terminations "a little innocent game-playing" that "can't be taken seriously." Sen. Pete V. Domenici, R- N.M., the budget committee chairman, offered the amend- ment and then voted against it himself, to bolster the committee's arguments that some taxes were needed to meet the required $144 billion deficit ceiling next year. "Building a budget based on terminations that will not occur does not offer a realistic contribution to deficit reduction." Domenici and Sen. Lawton Chiles, D-Fla., the ranking Democrat on the committee, said in a letter to colleagues Wednesday. The 44 programs earmarked for extinction by the administration included the Rural Elec- trification Administration, Export-Import Bank direct loans, soil conservation programs, the Small Business Administration disaster loans, the Agricultural Extension Service, food and shelter for the homeless and the Legal Services Corp Sen. Bill Armstrong, R-Colo . called the budget committee's tactic a sham. He said it svus designed to embarrass senators who opposed the committee budget that increased taxes by $12 billion over Reagan's request and reduced the president's S:!2(i billion military spending plan by S25 billion. Arkansas trying to tout own Sesquicentennial : DALLAS (AP) — Arkansas, like Texas, is celebrating its • 150th birthday this year, and the • state's tourism boosters are trying to draw Texans to share in their celebration. So state officials and private tourism boosters held "The ;Night Arkansas Came to Texas" ;in Dallas Wednesday, telling -Texas reporters and travel ' agents why Lone Star State residents should go to their neighbor's Sesquicentennial celebration. ; That message will go to all ^Texans starting Monday, when • Arkansas begins a three-week .advertising campaign, said •Maurice Lewis, executive officer of the Arkansas Hospitality Association. He said the state will sponsor three 30-second television spots and an eight- page, full-color Sunday supplement in some Texas newspapers May 4. Two-thirds of the cost of the $300,000 advertising campaign will be underwritten by 11 companies who will get 10-second plugs in the television ads, said Jo Luck Wilson, director of the Arkansas Department of Parks and Tourism. She said the state will pay for the rest of the ads' cost. Ms. Wilson characterized the 100 Arkansans visiting Dallas as "ambassadors from sesquicentennial to sesquicentennial." Arkansas Gov. Bill Clinton said he wants Texans to learn more about Arkansas history and vice versa. Clinton said he began collecting Arkansas history books when he was young, and he said he has toured Texas extensively and learned its history. He talked of David Crockett and Jim Bowie, who stopped in Old Washington, Ark., on the way to the Alamo, and of Stephen F. Austin, who ran for a spot as a non-voting delegate of Congress for Arkansas when it was still a territory. Austin lost, and he moved to Texas. "I wonder what would have happened to you if he had won that election to Congress," Clinton said to laughter. Lewis said tourism, at 51.H billion a year, is Arkansas' second-largest industry, behind agriculture, and that Texans account for 20 percent of Arkansas' tourists. In related news, former Gov. Orval E. Faubus criticized Clinton's trip, saying Arkansas Power & Light Co. paid for much of it. ' Clinton, who is running for reelection, faces Faubus and W. Dean Goldsby in the May 27 Democratic primary. Lt. Gov. Winston Bryant accompanied him to the reception, at the Dallas Hyatt Regency. Evicted homeowners amend their complaint AMARILLO (AP) — Homeowners in the Panhandle town of Phillips, who have been asked to leave their land by the Phillips Petroleum Company, have amended a court petition to ask for $600,000 in compensatory and punitive damages for each homeowner ordered to move. The amended complaint, filed this week in U.S. District Court in Arnarillo, also asks the court to grant a preliminary injunction blocking Phillips from enforcing the eviction order until litigation in the class-action suit is concluded. Phillips residents living in the southern part of town have been ordered by the Oklahoma-based oil company to relocate by Aug. 31 to make way for expansion of the company, which is the area's largest employer. Those in the northern section have until Dec. 31 to make way for the company, which has been leasing the land to the homeowners. The original complaint, filed Sept. 4, asked the oil company to compensate homeowners $240,000 for five alleged violations. The new suit requests more than double that amount and alleges seven different violations, including breach of contract, improper taking of property, violations of federal racketeering law and the Deceptive Trade Practices Act. Houston attorney Richard "Racehorse" Haynes on Feb. 20 told Phillips residents he would represent them in the litigation for no charge. But the filing of the amended petition, prepared with the assistance of the Dallas firm of Lippe and Associates, indicates plaintiffs think Haynes will not be representing them. Plaintiffs said in court papers they were seeking the help of the Dallas firm because a firm that indicated it would help never- followed through, the Amarillo Globe-News reported Thursday. Haynes did not return a call from the Globe-News inquiring whether he has any plans to work on the suit. In the new complaint, homeowners ask for for alleged violations of the federal Racketeer and Corrupt Organizations Act <KICO>. GRILLS SAVE PRICE INCLUDES SET OF 6 KABOB SKEWERS 621 W. Starting ••ytown 422 1301 BAYTOWN LITTLE THEATER presents "GREATER TUNA" Directed by Don Plank April 24, 25, 26-8 P.M. Box Off ice 4 24-7617 Tickets *5 Adults 2:00 p.m.-5:00 p.m. S 3 Students SUN CLASSIFIED Your Expandin *. Market Plac^ PORTABLE CABINET Handsome, handy kilchen helper has spacious storage. laminated hardwood counter with knife keeper and insel bowl Rolls where needed Cabinet: 24 < 39 * 16 inches Top: 38 x 2 i 18 Inches a2968-2 W 95 2 « 4 HAMMOCK STAND No trees'* No sweat! Hang your hammock from this simple stand and move it where you witf! Length easy 1o alter Cutting layouts, step-by-step assembly instructions and diagrams "2095-2 S4 95 CHILD'S KEEPSAKE. Treasured memento made from outgrown clolnlng. with sort-sculpted lice Complete instructions *1314-2 W 95 I ©ofl^J ©C? Purchase first pair at regular price Second pair at !/2 price ( of •qvalorX less volw« / OfM KM* Ttor. tab M* tat PILLOW CATS. Purr-fectly wonderful pillow*. Two designs and many variations you can try. So «»my to a«a«mbt«, you might wanl to stitch a whole bunch of th*m. SJzec about 12 x 19. and 14 x 14 Inctva*. No. 15*0-2 $4.95 To Order... tully illustrated and detailed plans tor these d«llgntful projects, please specify the protect name and number and send the dollar amount specified for each project. Add 52 95 for catalog. Include $1.50 postage and handling. For faster delivery, use zip-ptu»-fout zip code. Mail to: Classified Crafts O*pt.C ::-..•«• Box52189 TulM, OK 74152-01M CAMMMAM MMaDCNTS: CONSOLIDATED REPORT OF CONDITION Lone Star Bank (Including Domestic & Foreign Subsidiaries) LONE STAR BANK, BOX 1068, BAYTOWN, HARRIS COUNTY, TEXAS 77520, CHARTER NO 2401-24, FEDERAL RESERVE DIST. NO 11 30 09257, CLOSE OF BUSINESS DATE March 31, 1986. ASSETS 1 Cash and balances due from depository institutions: a. Noninterest-bearlng balances and currency and coin 2.295,000 b Interest-bearing balances NONE 2. Securities 2,807,000 :i Federal funds sold and securities purchased under agreement to resell in domestic offices of the bank and of its Edge and Agreement subsidiaries, and in IBFs 2,500,000 I Loans and lease financing receivables: a Loans and leases, net of unearned income 10,519,000 b. LESS: Allowance for loan and lease losses B6,(HK) c. LESS Allocated transfer risk reserve None d. Loans and leases, net of unearned income, allowance, and reserve < item 4.a minus 4.b 10,433.000 ."> Assets held in trading accounts None »). Premises and fixed assets < including capitalized leasesi 494.000 7 Other real estate owned 18-UXX) H Investments in unconsolidated subsidiaries and associated companies None i) Customers' liability to this bank on acceptances outstanding None Intangible assets Nonr Other assets 249,0(M) Total assets t sum of items 1 thru Hi 18.962.000 LIABILITIES i:i Deposits: a. In domestic offices 17,2:51,000 (1» Noninterest-bearing 4,305,000 <2 i Interest-bearing 12,926.000 b. In foreign offices. Edge ami Agreement subsidiaries, and IBFs None < 1 > Noninterest-bearing Nam(2) Interest-bearing Norn- 14 Federal funds purchased and securities sold under agreements to repurchase in domestic offices of the bank and of its Edge and Agreement subsidiaries, and in IBFs None 15. Demand notes issued to the U.S. Treasury None 16. Other borrowed money None 17 Mortgage indebtedness and obligations under capitalized leases None 18. Bank's liability on acceptances executed and outstanding None 19. Notes and debentures subordinated to deposits None 20. Other liabilities 179,000 21. Total liabilities < sum of items 13 through 20) 17.410,000 22. Limited-life preferred stock None EQUITY CAPITAL 23. Perpetual preferred stock None i No. of shares outstanding i. . . None 24 Common Stock 750,000 i a No. of shares authorized) 150,000 1 b. No. of shares outstanding* 150,000 25 Surplus 500,000 2ti. Undivided profits and capital reserves 302.000 27. Cumulative foreign currency translation adjustments None 28 Total equity capital ( sum of items 23 through 27) ... 1,552.000 2'J. Total liabilities, limited-life preferred stock, and equity capital (sum of items 21,22, and 28) SOTIOKTOKIDDKHS fhr H.irtxTs Mill ln<l<ix*rHj<-nt VMjl JJi.itriLl t* ji'ci'plmit bitK KW NAMWI.ASTINL;. I-AIN TIN<;* KKPAIHSON HAKHKRS MILL IIKJll SCHOOL KIM»T- BALI.STADIUM BLKACHKHS Hnl Kormt inuy lw pickrtl up in Ihc Hu»lm-M Oflicr of tlx- Ad- numeration Huilillnjt Bxl* ;ire tu relumed to C Wayne WalMin. Humnni Manager, no Islrr than. 3 oop m,M»y l», ItMt Bnl» will tic ofx-wil ui l:0ii p.m . May l». 1MK ami action will be taken on bid* il 7 3U p m.. May jo. \M». at the Regular Board Meeting Kor more m(onR»lte« phone: 57«- -aa. i. KXi Jos 713 C. Wayne Walwm Runlneu Man.tfrr f) 18.962.000 MEMORANDA: Amounts outstanding as of Report Date: I.a Standby letters of credit. Total 55,000 l.b Amount of Standby letters of credit in memo 1 .a conveyed to others through participations None I the undersigned officer, do hereby declare that this Report of Condition has been prepared in conformance with official instructions and is true to the best of my knowledge and belief. /s/Dianna Furney DIANNAFURNEY Assistant Cashier April 15, 1966 (713)421-2844 We, the undersigned directors, attest the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with official instructions and Is true and correct. /s/James R. Hosek JAMES R. HOSEK Director /s/George Gilman GEORGE GILMAN Director /ft/Hugh Wood HUGH WOOD Director

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