Many thanks to:

Matthew Dickie GIS Specialist for his response to the case of the disappearing text.
Even though I was incomplete with details of my system, he sent this information:

 "I have never experienced the problem with the Label tool, but I have
   experienced text visible in the layout not printing.  This problem was
   solved by changing were the data was processed prior to printing.  We have
   an HP650c Design Jet, and it allows us the option of processing the print
   "in the  computer" rather than "in the Printer".  This takes more time but
   you text will show up.  It's in the printer properties > advanced tab.

   Good Luck,
   Matthew Dickie"

I changed the setting ( be advised the program will tell you to change this only if you have 'out of memory' trouble)
and it answered the question.

Thanks again to Mr. Dickie
Frank J. Palacino
Street Dept.
City of Corpus Christi
Corpus Christi, Texas