DALLAS -- Even as interest rates plunged, the Texas treasury earned $23 million more in 1991 than the previous year by aggressively investing the state's funds.

Treasurer Kay Bailey Hutchison yesterday said the state earned an average yield of 7.29% on its $4.79 billion portfolio, netting the state $340.2 million in 1991. That was up $23 million from interest earnings in 1990.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.