Called “Stockholder Profit Sharing Plan”, and available only to ICT Group stockholders, this plan offers: 1.INCOME-PRODUCING INVESTMENT 2.SAVINGS BANK SECURITN 3.LIFE INSURANCE PROTECTION All who participate in the Stockholder Profit Sharing Plan create profit for themselves in two ways: 1.FROM CASH DIVIDENDS PAID ON UNITS OF THE PLAN 2.AS STOCKHOLDERS IN ICT IN-SURANCE COMPANY OR ICT DIS-COUNT CORPORATION, YOU SHARE IN THE PROFITS MADE BY ICT LIFE INSURANCE COMPANY. I Page 8 April 4, 1955 ileelemeeme. THE TEXT ien Push Hard As Solons Grind Out Laws Texas Industry Doubles Output Value Since ’47 AUSTIN Texas legislators stepped up their pace last week as a bundle of major bills some dealing with insurance, securities, labor, water, used cars, and lewd literatureslid through both chambers. But as members returned Monday to enter their 13th week of the 54th session, no tax bills had yet been passed. A House-Senate conference committee should reach a compromise within 10 days on the State’s billion and a half dollar spending billthe giant general appropriations measurebut tax plans to pay for increased services lay deep down in committee. Two Administration-backed bills, a two-cent gasoline tax increase and a one-cent cigarette tax hike, apparently are going to stay there. NO move was made to get them out of committee last week. It’s rumored that the Administration will now try to ride with Rep. Stanton Stone’s bill redrafting the entire omnibus tax code. Rep. Jerry Sadler, on the other hand, threatens to ask the House to pull his gas processing tax out of an unfriendly revenue and taxation committee. He wants to bring it before all House members. He might also try the same strategy fof his beer tax bill. Legislators, meanwhile, were jumping into other matters. Governor Shivers gave the coni:roversial securities regulation bill u. good sendoff for final passage in the House. One day he blasted “greedy promoters” for trying to iefeat the measure. On the next lay it passed the House, 95 to 50. ,obbyist Regulation Bill ;ent to Subcommittee AUSTIN Rep. Maury Maverick’s bill which vrould require lobbyists to register with the State and tell how they are spending their money was sent to a subcommittee by the House Rules Committee last week. Only two of eleven committee members showed up for the first hearing. Maverick failed in an effort to get the House to require an immediate committee report, 81-48. After last week’s full committee hearing, Maverick feels the bill is “just next to dead.” “It was more like a requiem mass than a committee hearing,” Maverick said with a sigh. The vote for the subcommittee was unanimous. Maverick plans to make one :more try to get it passed this sesskin. It would set up a “People’s Docket” on which lobbyists and employers of lobbyists would have to register their names, legislation they are interested in, money they receive or spend, and to whom they dispense it. The bill would bring trust company securities, not now regulated, under close state supervision. Opponents argued in vain that it would make a dictator of the Secretary of State, who would do most of the regulating. The Senate got busy and pushed through an insurance regulation bill, following a blast from Lieutenant Governor Ben Ramsey that the “jackals” of the insurance industry are still trying to block such legislation. The bill would tighten financial requirements and broaden state control over Texas life insurance companies. It sets a minimum of $250,000 capital and $125,000 surplus on legal reserve companies, instead of the present $100,000 capital. The Senate also returned to the House a bill placing regulation of insurance securities in the hands of the insurance commission. Senator George Parkhouse’s bill to stop payment of unemployment compensation where Texas workers are idled by strikes of fellow union members in another state won quick approval in the Senate. Condemned as the “Ford Motor Company Bill” and “special interest anti-labor legislation at its worst” by opponents, the Parkhouse measure was sent to the House on a voice vote, although five senators asked to be registered as voting no. The proposal grew out of a Ford Motor Company strike in Michigan which caused the Dallas assembly plant to halt operations for lack of parts. Dallas workers drew unemployment pay during the period, and Ford officials complained it put the company in the position of helping finance a strike against itself. A similar bill two years ago passed the House but failed to make it in the Senate. The Senate, by another voice vote also approved a bill to carry into effect the proposed $100 million Texas water program to help build dams and reservoirs. Voters will have to approve a companion constitutional amendment to put it into effect. The House also: Passed and sent to the Senate a constitutional amendment which would let a judge deny bail to any person twice previously convicted of felonies. \(If the Senate approves, the proposal will be submitted to Passed a bill making Arlington State College a four-year senior college; Sent to the Senate a bill requiring an inventory of water use in Texas, one of a series of measures proposed by the Texas Water Resources Committee; Passed legislation raising penalties for violation of the narcotics laws to life imprisonment; And okayed a bill changing the present law on lewd literature to f prohibit lewd covers and depicting acts of depraved violence. The Senate also approved legislation providing for construction of state courts and state office buildings at a cost of $3 million each and a House-approved bill to modernize and codify Texas’ incorporation laws, some dating back as far as 1848. Slum Clearance Fight May Go On, Banks Says AUSTIN An opposition lineup from real estate interests caused Rep. Stanley Banks of San Antonio to ask that his slum rehabilitation bill be sent to subcommittee early last week, but by week’s end he had about decided to pick up the plan and run with it again. “There is a definite possibility I will ask for another hearing if I get some more support from Houston and Dallas,” Banks said. Gail Reeves, conservative Houston City Councilman who has opposed Mayor Roy Hofheinz, was present at the scheduled hearing to oppose the Banks bill. Hofheinz is WASHINGTON In six years, the value of the industrial products of Texas has more than doubled. What everyone has been aware ofthe sudden industrialization of Texasis thus dramatically illustrated. To turn out this increased value, Texas industry had to increase its employees by 125,000 in that six-year period. The Census Bureau reports that in 1953, the value added to given materials by Texas manufacturing totaled $3,486,240,000. The same figure for 1947 was $1,727,464,000. The number of workers in Texas industry increased from 297,053 in 1947 to 420,468 in 1953. Census figures also show that in the five largest payroll industries, the annual wage-and-salary average ranges from $2,181 per year \(in. Other averages for the big five in 1953 were $4,505 per year in transportation equipment, $4,626 i n chemical industry, and $3,235 per year in food and allied industries. for it. It provides for the use of private funds if available and federal funds otherwise to clear slum areas and rehabilitate others in Texas cities of over 400,0001 The largest dollar value added by manufacturing in Texas was in chemicals and allied products $777,082,000. Oil, food and kindred products, and transportation equipment followed in that order. “Value added” is defined as the. value of finished products shipped, less the cost of raw materials, supplies, fuel, electric energy, and contract work. Take Your Gun Texans interested in novel but not necessarily new forms of amusement may be interested in the following article, reproduced in full, which appeared in the Bronte Enterprise of March 31: An all-day rabbit drive will be held at Juniper next Tuesday, April 5. Beginning at 9 a. m. the first drive will start about the river and will continue toward Tennyson. All men in this area are invited to go out to Juniped and take their guns. The women are urged to bring covered dishes and lunch will be served at noon at the Juniper school house. Shells will be sold at the hunt. Hardeman Selects ‘Right’ Brand Of History for Texas Collegians A vitally important message to all ICT Group stockholders YOU ARE ENTITLED TO PARTICIPATE IN THE NEW STOCKHOLDER PROFIT SHARING PLAN After many months of hard work and careful study, The ICT Life Insurance Company is ready to announce an exclusive personal benefit plan for ICT Group stockholders only! If you are an ICT Group stockholder, Home Office Representatives will soon be calling on you to fully explain your rights under the Plan and show you how to exercise them. For your own benefit and profit, give these Representatives an opportunity to point out the many exclusive advantages the Plan offers. AUSTIN Senator Dorsey Hardeman of San Angelo, whq h a s also pushed through a law requiring that the Texas flag have the “position of honor” whenever it is displayed in Texas, has now gotten the Senate to approve an elaborate definition Parr Seeks Change of Venue for Tax Trial CORPUS CHRISTI South Texas Political Boss George Parr has until April 11 to answer federal government claims that he can receive fair treatment in Corpus Christi, where he faces trial for income tax evasion. Parr says publicity concerning lim in this area would prejudice. .Tors. He wants a change of venue 5 Laredo. A petition filed here last leek included 97 affidavits claimig that Parr would be able to relye a fair trial here. of subject matter for six hours of American history to be taught in Texas colleges, universities, or junior colleges. The course would be pre-requisite to graduation. Hardeman’s bill says the course: … shall deal with our national development and shall emphasize the American system of free enterprise, the division of powers and the rights of the states, the inherent values of our American way of life, the rights and dignity of the individual, the significance of the Constitution and the Bill of Rights, the encouragement of thrift and economy in government as well as in individuals, and the self respect and satisfaction to be found by all individuals in the opportunity, privilege and liberty afforded by the dignity of labor, whether mental or physical, to the end that those who toil and sacrifice may enjoy for themselves and their posterity the fruits of their labors.” Many of you may want to have the Plan explained in detail to you before a Home Office Representative has the chance to contact you personally. Below is a coupon to be filled out and mailed if you would like to have complete facts on the Plan as soon as possible. Mall= = REMEMBER, STOCKHOLDER PROFIT SHARING PLAN IS FOR ICT STOCKHOLDERS ONLY! Name 1 T LIFE INSURANCE GROUP COMPANY BUitOINC 1 BITTER IIIERIC4 gle32402 ICT Building, Dallas V ICT Gentlement I understand the Stockholder Profit Sharing Plan offers me as an ICT Group stockholder many exclusive,unprecedented benefits. 1 want to be among the first ICT stockholders to hear all about the Plan and receive my Allotment Certificate. So, please have a Home Office Representative call on me as soon as possible. Address City State
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