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State/Local
The Battalion Thursday, Dec. 8 Page 3
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Wells Fargo might buy
Dallas’ troubled MCorp
DALLAS (AP) — Wells Fargo
& Co. is the first outside institu
tion to examine the books of
MCorp for a possible bid on the
troubled Dallas-based bank hold
ing company, according to a pub
lished report.
The Dallas Times Herald, cit
ing sources, reported in its
Wednesday editions that an audit
team of more than 40 from the
San Francisco-based holding
company began its inspection of
MCorp’s books on Monday.
Wells Fargo is the nation’s
llth-largest bank holding com
pany with assets of $45.1 billion.
Cheryl Mortimer, spokesman
for Wells Fargo, told the Asso
ciated Press the company does
not comment on such reports.
MCorp officials also declined
comment to the AP and referred
all questions to the Federal De
posit Insurance Corp. FDIC offi
cials did not immediately return
messages to the AP.
In an agreement announced
Nov. 6, the FDIC agreed not to
force MCorp to put $400 million
it had set aside for its recapitaliza
tion directly into its subsidiary
banks. In return, MCorp allowed
FDIC-approved investors to ex
amine its books.
Wells Fargo was among the los
ing bidders for First Republic
Corp, which was sold to NCNB
Corp. of Charlotte, N.C., in July.
NCNB Texas National Bank is
the only Texas bank holding
company bigger than MCorp.
Wells Fargo was outbid even
though its offer included $1 bil
lion in cash, one source told the
Times Herald. That defeat so an
gered Wells Fargo chairman Carl
Reichardt that he vowed not to
fail in a second attempt to buy a
Texas bank, the source said.
MCorp’s management origi
nally had hoped to save the com
pany without federal aid and
without competition from other
bank holding companies. But in
its second quarter report last sum
mer, MCorp said it might be im
possible to raise capital without
federal help. In October, the
company sought federal assis
tance.
The company’s recapitalization
proposal would include $400 mil
lion from the bank holding com
pany, $400 million raised from
shareholders and an investment
group headed by Cincinnati fi
nancier Carl Lindner, and an un
disclosed amount from the FDIC.
Banking analysts have estimated
that amount could be as much as
$1 billion.
Regulators demanded the
$400 million MCorp had set aside
be distributed to the company’s
subsidiary banks, but MCorp re
fused.
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Salvation I
Sroup depends on Christmas Seals
mg out
lereyoi
By Ellen Nolen
Reporter
The American Lung Association of Texas expects to
iceive $716,000 in contributions this year in response
iits Christmas Seal Campaign.
Direct Mail Coordinator Eve Farr said ALAT de-
nds on this annual fundraiser to meet the complex
allenge of combatting lung disease.
ALAT President Wyatt E. Rousseau said, “Over the
ylars, Christmas Seals have become an American tradi-
pn and a symbol of the battle against lung disease and
gai _
eir related causes such as smoking, air pollution and
mpational lung hazards.”
More than 1.5 million households in Texas have
en mailed Christmas Seals and contribution informa-
n this year.
Last year the campaign raised $744,650. Farr said
is year’s goal is lower because of lower economic activ-
in Texas.
“We have to be realistic,” she said. “But most people
ive what they can afford.”
The campaign has raised $403,266 since it began
lore psj'f Nov. 9.
forllfB Contributions help support many programs offered
ALAT in Texas. Twenty-seven Better-Breathing
lubs meet monthly as support groups for people af-
icted with emphysema. Members help one another in
arning to cope with their disease.
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ddress.
Freedom From Smoking clinics are offered to the 3
million smokers in the state.
“The association realizes the difficult process of kick
ing the addiction,” Communications Coordinator Ber
tha Lopez said. “We offer helpful tips and emotional
support to smokers.”
Family Asthma Programs educate children and their
families about the disease, and help children learn to
control their asthma attacks.
ALAT staff members also provide classroom instruc
tion to thousands of children each year. Children re
ceive information on lung health and the hazards of
smoking. This program also serves as a fundraiser, Lo
pez said.
Ninety percent of the funds collected through
Christmas Seals remain in the state to support research
and improve health care for those afflicted with lung
disease.
The Texas Department of Health estimates that
smoking costs taxpayers $2.9 billion each year. These
costs include hospitalization, treatment and loss of in
come.
“Contributions to the . . . campaign are vital to the
continued fight against lung disease,” Lopez said.
Christmas Seals may be requested by calling the
American Lung Association of Texas at 1-800-252-
5864 or by writing P.O. Box 26460, Austin, Texas
78755-0460.
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ROTHER’S
BOOKSTORES
TOP DOLLAR
FOR USED BOOKS
We buy ALL Books!
Open Late During
Finals
CA$H
340 Jersey
Across from Univ. Police
&
901 Harvey
Woodstone Shopping Center
ROTHER’S
BOOKSTORES
Northside streets will reopen
in time for spring semester
By Fiona Soltes
Staff Writer
Students returning to campus in
the spring can expect to find many
current construction projects com
pleted.
Tom Williams, director of Park
ing, Transit and Traffic, said he ex
pects the north side of campus to be
clear of construction.
“First of all, our dorm construc
tion will be finishing up,” Williams
said. “It will continue until fall, but
by the time students get back, the
module delivery will have been com
pleted.”
Williams said many closed streets
are scheduled to re-open by Jan. 16.
Construction on University Drive
also should be complete. The signals
will be relocated and the street will
have been widened. Installation of a
traffic signal has been planned for
and unloading during the beginning
of the spring semester.
The parking garage also will be
complete. Williams said staff permits
will be issued Jan. 3 and student per-
mitsjan. 15.
Williams said he expects construc
tion to be concentrated on the south
side of campus during the spring se
mester.
“With the expansion planned for
the student center and construction
on the satellite utility plant and park
ing garage near Rudder Tower, that
area will definitely be congested,”
Williams said.
Congestion should be expected on
Throckmorton and Houston streets
and Joe Routt Boulevard, he said,
because utility lines will run from the
utility plant to near the entrance of
G. Rollie White Coliseum on Joe
Routt.
the intersection of University Drive
and Asbury Street and may be com
plete.
Asbury Street, which is near the
blue water tower on the north side of
campus, will be open and returned
to one-way traffic.
Ireland Street, which runs in
front of the Blocker Building, will be
open and one-way from Ross Street
to University Drive.
The new, not-yet named street
connecting Ireland and Asbury will
be complete.
Construction on Ross Street be
tween Ireland and Asbury nearly
will be completed.
Spence Street, which is in front of
the Pavilion, should be re-opened.
Recent construction in the area of
Coke and Lubbock streets also
should be complete.
Mosher Street will be re-opened
temporarily for dormitory loading
Texans grow trees for Yule
By Stephanie Richard
Reporter
When one thinks of Christmas
tree farms, visions of snow-capped
firs covering acres of wintery north
ern states usually come to mind. But
many Christmas trees are being
grown here in the Lone Star State.
Consumers should find an ample
supply of Texas-grown Christmas
trees at local markets this season, Dr.
Michael Waltersheidt, forestry spe
cialist with the Texas Agricultural
Extension Service, said.
This season, 193 tree farms in 73
Texas counties will have Christmas
trees for sale, he said.
Brazos County has two tree farms
supplying the Bryan-College Station
area. One farm is located 10 miles
northwest of Bryan; the other is 25
miles northeast of Bryan near Edge.
Combined, they produce approxi
mately 20 acres with 30,000 trees,
Waltersheidt said.
“The trees in this area are mostly
Virginia pines,” he said. “The Afg
han pines, grown in more alkaline
soils of western Texas, will not be
shipped to this area.”
Almost 10,000 trees were sold to
Brazos County this season. Their ex
pected economic impact is $350,000.
Pete Stewart, vice president of the
forestry club, said his organization
started selling trees on Texas A&M’s
campus Nov. 27. The club has sold
over 180 trees at $3 per foot.
Stewart said trees are bought
from a tree farm in Brazos County
and will not be sold after Friday.
The forestry club’s sales benefit
members trying to go to a lum
berjack competition in Clemson,
S.C.
“The sales will pay for the trip for
some members,” he said. “We’ll
probably send between 18 and 22
students.”
The competition includes chop
ping and sawing events, tree indenti-
fication, compass pacing and ar
chery.
“It’s a social event,” Stewart said.
“We get exposure to companies and
forest people who work for the gov
ernment.”
The College Station Noon Lion’s
Club sells Christmas trees as an an
nual charity event.
L.S. Pope, Noon Lion’s Club
member, said the organization’s
charity work benefits the blind.
Money raised by the club is donated
to young people who are blind, or to
children who cannot afford glasses.
The Noon Lion’s Club brought in
approximately 800 trees Nov. 28
and has sold over 600.
“Sales have been unusually good
this year,” Pope said. “They’re
(trees) almost a personal thing. Ev
ery one will find a home.”
The club’s trees are between $10
and $30 and will not be sold after
this week.
The cities of Bryan and College
Station have combined efforts this
season for the recycling of Christmas
trees.
Gorrectioil
A heatllioe on page 3 of tfee ;
Dtec* 7 issue of The Battalion in* !
correctly gave the location of a
eatioRid teleconference as :
KLANM. The teleconference will,!
be ait KAMEUTV. ; ,
STUDY BREAK
Little Caesars
wishes the
Aggies good
luck on finals
and a Merry
Christmas!!
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PIZZA.,,
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Buy any stee ptefca at the
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CaaytMonty.
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karge $11 J* phis l(tt
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With all the studying
you have you’re enti
tled to a break. At
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but you pay for only
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Northgate now deliv
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ExpfcrMVt.kS.Sn
NORTHGATE
268-0220
University <& Stasney
COEEEGE STATION
696-0191
SW Parkway & Texas
BRYAN
776-71T1
E. 29th & Briar crest
little Caesars Pizza