The Ingleside Index (Ingleside, Tex.), Vol. 32, No. 48, Ed. 1 Thursday, January 7, 1982 Page: 1 of 16
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Popular
DAN BAKER, noted
speaker, will be in In-
gleside on January 15
to address the annual
banquet of the In
gleside Chamber of
Commerce
Precincts okayed
New boundaries for comnnsmnci
precincts have been approved ' - San
Patricio County
County commissioners, meeting l ues
day, okayed the new lines
Glenn Dorris, precinct three comnns
sioner, voted against the proposal in
sisting that the court agree on apportion
ment of county road funds before approv
ing the new lines
The redistricting put some to percent
of county roads in lus precinct and tie
wanted to know what Ins share ot the
road funds would tie before agreeing to
accept most ol the road work
Precinct two Commissioner Carl Dun
can said the court had little choice on ac
cepting the proposed boundaries since
the law requires equal di\ ision ol popula
tion
Still to Tome on redislnet mg matters
are t lit' justice ol t hr peace and const a I >le
precincts
The new precincts pul I I,/tin residents
in precinct one. ol which 9.810 1.1. :u, pei
cent i are Me\u an Amei ican and to > are
blacks
Precinct two has a population of 14,530
ol which 3.037 t 25 percent i are Mexican
American and (it are black
Precinct three has 14.205 of which are
't.042 <"07 59 percent > Mexican American
and 112 are blacks
See 1*1(1 < IS< TS“ Back Page
Inside
Ingleside
('ANDIDATES dropping by the office
to bring in stories and pictures. The
Democratic and Republican Primary
Elections will be held May 1
CHAMBER OK COMMERCE BAN
tjUET will be held Friday, Jan 15, and
you're asked to purchase your ticket as
soon as possible to help plan for (he big
event . LADIES ALTAR SOCIETY
meets the third Thursday of each month
at 7:30 p m in the Catholic Rectory
LOCAL RESIDENTS enjoying celebra
tions for the new vear
Mokes history
ISABEL GUADALUPE SOLIS of Rockport was the first baby born in Aransas
Pass for 1982 Born at 8 20 a m January 1 at Coastal Bend Hospital, she
weighed eight pounds, 6% ounces and was 20% inches long Here, she s
cradled by her mother, Elvira T Solis Her father is George Solis, brother,
George Solis, Jr ; paternal grandfather, Miguel Solis of Rockport; and
maternal grandfather is Reulo Trevino of Ingleside; and Isabel
Somora, Sr. step grandfather of Rockport,
Vol. XXXII —No. 48
USPS264 260-- Ingleside. Texas 7X3(12 - Till RSI)AY, JAM \KV7, 19x2
2(»e Per Copy
Dan Baker
to speak
at banquet
The Ingleside Chamber of Commerce
will hold its annual banquet and installa
tion of officers on January 15 at the
Catholic Hall in Ingleside
Guest speaker for the occasion will be
Dan Baker, outstanding professional
speaker
Baker is a writer who has been
credited with the rare ability to uniquely
sum up today’s people problems into a
warm, humorous, understanding and
memorable form
A native Texan, Baker worked seven
years in the Methodist ministry He has
acquired a broad background of ex
perience and success in the business
world
His most recent publication is a video
program entitled “Go For The Top With
What You've^Got ”
Mrs. Ruth Hildreth, secretary of the
Ingleside Chamber of Commerce, an
nounced that tickets went on sale
January 5 and may be purchased by call
mg the chamber office or going in per
son
We Invite
We Invite to be our guests at the pic
ture, “Only When I Laugh’’ showing Fri
day thru Thursday, Jdhuary 8 thru
January 14, at the Rialto Theatre, Mary
Alice Hicks and guest
This notice, clipped from The Ingleside
Index, will serve as your admission.
Winners
ALL TOURNAMEN I MEDALS are worn by these Mustangs whose performances drew high honors in the recent
tournament played in Ingleside. They are Donnie Turner, Joy Williams and Lee Ann Shaw Lady Mustangs have
won first places in their tournaments this year.
Babson's economic forecast
Business profits to climb
By Babson’s Reports Inc , Wellesley
Hills. MA , December 31, ifiHl Economic
conditions and the status of public senti
ment in the closing weeks of 1981-stand in
stark contrast to those of late 1980 A year
ago.'overall business was still tre tiding up
ward
Moreover, there was hopeful expectancy
that the change in the nation's leadership
would lead to an alleviation and
ultimately a resolution of problems
which had been gnawing at the core of the
economy
Now. as 1981 gives way to 1982, the
economy is gripped by a recession and
there is a rising tide of anxiety that the
Reagan prescription will produce further
harsh dislocations.
Deep pessimism
not warranted
The staff of Babson's Reports feels it is
premature to summarily dismiss the
Reagan Administration’s efforts to shore
up the foundation of the economy, It must
be remembered that not all of the prove
sions of the Economic Recovery Tax Act of
1981 are yet in effect
In addition, pessimism with respect to
fundamental and long term considerations
is not justified when one gives due weight
to the fact that at least some progress has
already been made in slowing inflation and
lowering interest rates
Yet much more improvement must be
attained on both fronts before their
dangers are genuinely subdued, and this is
a task which undoubtedly will take a good
deal of time and dogged persistence to
accomplish The backlash on both counts
in 1980 attests to the absurdity of band aid
type solutions
The true severity of the current reces
sion can also be better evaluated by taking
into account the postponement of business
capital equipment investment as soon as it
became evident that the benefits of
liberalized depreciation under the tax
legislation would not commence until
January 1, 1982
During the hiatus, this important ele
ment of industrial activity has been kept
on a subpar basis Hence, it is only
reasonable to assume that we shall have
some catch up buying as 1982 progresses
Of course, the high level ot interest rates
also served to stifle business equipment
demand, but these promise to be a less in
hibiting factor in the year ahead Indeed,
interest rates have already worked down
to levels that arc appreciable less pro
hibitive to borrowers
1982 — From recession
to expansion
Judging from the behavior ol vanoii-
key economic indicators, the la-t quarter
of 1981 will prove to be the low point for the
year's business performance Alter an
unexpectedly vigorous advance in the first
three months, the economy softened a hit
during the ensuing two quarters and then
slumped sharply to close out the year im
mersed in a genuine recession
Thus, we have slipped into recession
twice in consecutive years Yet. unlike
1980's credit restraint fostered economic
drop, which began and endi d within that
year, the recession of 1981 w ill ckel\ carrs
over into early 1982
Even so, due to the severity of the
nosedive during the past three months and
given the decline in interest rates, there
may be only a downward shading ot econo
mic activity during the lira 1982 quarter,
followed by a flat performance in the spr
mg weeks This scenario may not he im-
pressive, but it is tar less disheartening
than the pessimistic predictions which
have prevailed of late
Moreover, scattered signs ol improve
ment should be emerging before long,
tfiough perhaps not in sufficient quantity
and intensity to spell large scale overall
business gains Around midyear however,
the economy should be moving ahead in
concert, and we expect the final half of
1982 to feature distinct upside progress
even though the summer weeks may be
more robust than the fall season
By autumn new growth in demand for
credit may begin to take hold This should
make for some braking influence, though
not enough to prevent a definite business
uptrend for the year's final two quarters
More sober
expectations
Early months of 1981 were tilled with
mounting anticipation that the new na
tional leadership would revitalize the
economy and restore some luster to
America's role in international affairs
However, the actual scope and magnitude
of the nation's problems have brought
home to the public the fact that there are
no easy solutions
Nevertheless, this does not mean that no
progress will be made As the initial public
ebullience when the Reagan Administra
tion took office was probably unduly, op
timistic. so also the current swing to
disillusionment is undoubtedly excessive
and somewhat myopic
No doubt there will be more give and
lake between the White House and Con
gress m 1982 Out ol this may come some
combination of additional spending cuts,
deferral and down sizing of selected
outlays, and the raising ot fresh revenues
It qur expectation that the bulk of the
recession occurred m the fourth quarter of
1981 turns out to he true, estimates of
federal budget deficits in this and suc-
ceeding fiscal years may prove to be
unrealistically high
Also, in view of the steepness of the
recession, we would not be surprised to see
someol the critics ot the tax cuts shift posi
tion again and press for the second phase
ol the tax reduction for individuals to lie
moved up from mid 1982 to some point
earlier in the year
Economic I'ax Recovery
\cl of 19K1
The recent damaging revelation by
Budget Director David Stockman that he
doubts the viability of the Administration's
economic and fiscal proposals provided
additional tued for the arguments of op
ponenfs as the economy slid into recession
However, the potential benefits of the
Economic Recovery Tax Act of 1981 have
not been given adequate credit
When all ol the provisions of the legisla
tion are fully operative, these benefits
should stimulate the economy Later, their
cumulative effect may have an even more
positive influence
Taken individually, the tax benefits are
far from large, but their collective impact
on private capital formation over a
period of time will be quite positive and
widespread
These incentives for individual savings
will help replenish private capital reser
voirs The tax exemption on income from
the dividend reinvestment plans of
qualified utility companies and the
broader concept of Individual Retirement
Accounts (IRA) even though both these
devices have annual limitations
Also, cash flow of corporations will be
enhanced by the lower tax rates on profits
and more liberal depreciation schedules
for capital investments The latter should
spur the modernization of U S productive
facilities, make us more cost-competitive
in foreign markets without compromising
quality
Gross National
Product
Despit the sharp slump in the fourth
1981 quarter, real gross national product
(the aggregate value in 1972 dollars of
goods and services produced) registered
quarter to-quarter changes averaging
about 4 percent on a seasonally adjusted
annual basis
This was due to the astounding 8 6 per
cent upspurt in the initial quarter.
Although the range of quarterly changes
in 1982 will not l>e as wide as in 1981, and
the generally flat first he* will not con-
tributs much uplift to the economy to
begin with, strength in the final two
quarters can make tor about a 2 percent
average rate of advance in real GNP for
the year
Industrial
production
Monthly figures on the physical volume
of industrial production early in 1982 are
not likely to tie impressive The abrupt
business slump has shaken confidence,
and it will take some tune for optimism to
return However, industrial output should
trend upward in the spring and thereafter
With basic industries already so deeply
depressed, further improvement® in
monetary conditions could revive the hous
ing, auto, and consumer durables markets
more rapidly than now seems possible
This would add to the strength that has
been maintained in the fuel and energy-
related fields Military business should be
a primary source of vitality too
Business
inventories
Heavy inventories of autos, trucks and
farm equipment are the primary trouble
areas right now, with suppliers to these in
dustries forced to curtail output because of
soft demand Elsewhere, however, there
should be earjy need for inventory ac
cumulation in anticipation of a*quickening
business tempo as 1982 progresses.
Business capital
outlays
Although low rates of capacity utiliia
tion and listless business early in 1982 will
tend to restrain capital equipment de-
mand, purchases that were deferred in
1981 pending the more liberal depreciation
See “BABSON’S” Back Page
I
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Wittnebert, Larry. The Ingleside Index (Ingleside, Tex.), Vol. 32, No. 48, Ed. 1 Thursday, January 7, 1982, newspaper, January 7, 1982; Aransas Pass, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1102731/m1/1/: accessed May 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Ed & Hazel Richmond Public Library.