ustxtxb_obs_1986_09_26_50_00011-00000_000.pdf

Our outstanding lunches have been an Austin must for eleven years. Our international grocery features food and wine from around the world. Come see us at our new home. OOMMOM MFIRKET 1610 San Antonio Austin, Tex. 78701 472-1900 Hours: 7am 7pm Mon. to Fri. and 8am 6pm on Sat OPEN MONDAY-SATURDAY 10-6 AND OPEN SUNDAY 10-a WATSON & COMPANY BOOKS -#11 ok.. A timely print job means nothing if it doesn’t make it to the post office on time. Our people do what it takes to make your deadline. We can do the whole job from computer mailing list production and printing to labeling and delivery. Call Futura at 442-7836. Em loyee Owned and Managed COMMUNICATIONS, INC. AUSTIN, TEXAS 1714 S. Congress 442-7836 Data Processing Typesetting Printing Mailing Messer \(formerly a well-entrenched $100,000 each for their work, the Dallas Morning News reported on August 28. The lobbyists clarified that about $150,000 of their $400,000 went for expenses. “It takes a lot of resources to put on a creditable lobbying program,” explained Kelley. ASMALL GROUP of dissident independent bankers who are unhappy with their association’s approval of the interstate and branch banking bills are forging ahead with a “It’s not over til it’s over” attitude. Calling themselves Independent Bankers for Texas, they plan to campaign against the branch banking amendment on the Nov. 4 ballot, and to file suit against the interstate banking law. Gary Tongate, an East Texas banker who is involved in the group, fears that interstate banking will lead ultimately to the demise of independent banks. Living with Giantism “Independent bankers are slowly losing out,” says Professor Forest Hill of UT. “All they can do is fight a rearguard action. As Hill sees it, the independent banks would not have “caved in” had it not been for the recent high rate of bank failures. “When you can talk small bankers into doing what complete personal and business insurance ALICE ANDERSON AGENCY 808-A East 46th P.O. Box 4666, Austin 78765 1886 1986 CIAIR1.11 COME STAY & CELEBRATE OUR 100th YEAR P.O. Box 8 Port Aransas, TX 78373 is in Citicorp’s interest,” he said with an ironic laugh, “the situation is very fluid.” But if we are seeing the last gasp of the independent bankers, what lies ahead? “What we’re moving toward is competition among giants,” Hill said, adding, “It’s not as if we could go back to a small scale. We’re going to have to live with giantism.” For the top officers and shareholders of a troubled Texas bank holding company, this may not be so unattractive, Hill said, noting that the “top dogs” at an absorbed bank often get a spot on the bigger bank. “Some of them may even get more prestige out of it, do you see? Some of them may become directors at one of the biggest banks in the world instead of at a failing Texas bank.” Bigger and bigger banks! More money in the hands of fewer people. The free market is being loosed upon another industry, to the effect of more economic concentration. But the bigger the banks get, the harder they fall. The bigger they get, the less interest they take in the nobodys with the $500 savings accounts. Wouldn’t the late Congressman Wright Patman be scandalized? “Would he ever,” said Sen. Oscar Mauzy, D-Dallas, when the question was put to him. “Would he ever.” THE TEXAS OBSERVER 11