Banner Graphic, Volume 15, Number 122, Greencastle, Putnam County, 22 January 1985 — Page 2

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The Putnam County Banner-Graphic, January 22,1985

world

Reagan conciliatory in second address

WASHINGTON (AP) Launching his final four years as president with an appeal for “new boldness,” Ronald Reagan has won promises from some members of Congress to help stop the arms race and reduce the huge federal deficits. But congressional Democrats are warning that the president’s initiatives on both the budget and defense could face a reception on Capitol Hill as chilly as the winds that forced Monday’s inaugural ceremonies indoors. Democratic leaders praised Reagan for striking a conciliatory, bipartisan note in his second inaugural address. But they criticized the president’s mention of his proposed anti-missile defense and his call for a balanced federal budget in the face of S2OO billion federal deficits. “It was nice rhetoric, but if he had to comply with his own call for a balanced budget, the government would have to shut down today,” said Rep. Tony Coelho, DCalif., chairman of the Democratic Congressional Campaign Committee. A chill of another kind frigid air and strong winds forced cancellation of the traditional inaugural parade down Pennsylvania Avenue to the White House and moved the swearing-in ceremonies indoors. It was the first time since 1833 that brutally cold weather had forced cancellation of the festivities “Let history say of us, these were golden years when the American Revolution was reborn, when freedom gained new life and America reached for her best,” Reagan told a crowd of about 1,000 VIPs

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crammed into the Capitol Rotunda only a fraction of the 140,000 who had held tickets to the planned ceremony on the West Terrace of the Capitol. Speaking later in the day in a suburban sports arena to thousands of disappointed band members, Reagan said: “You would have been the greatest show on Earth.” A round of nine inaugural balls and scores of private parties culminated four days of inaugural festivities in the nation’s capital. Matching the jubilant mood of Washington, the New York stock market closed 34 points higher on Monday. Reagan delivered his inaugural address without benefit of a Teleprompter, unusual for a major presidential address. The speech was solemn and, at times, poetic. “We live in a world lit by lightning. So much is changing and will change, but so much endures and transcends time,” Reagan said. “We must think anew and move with new boldness, so every American who seeks work can find work; so the least among us have an equal chance to achieve the greatest things to be heroes who heal our sick, feed the hungry, protect peace among nations and leave this world a better place,” Reagan said, citing the “brotherhood of man.” “Our goal must be to bring those wonderful words to life by reducing the threat of nuclear war and by ensuring justice and opportunity for all our people,” said House Speaker Thomas P. O’Neill Jr., D-Mass.

President seeks perfect nuclear defense

WASHINGTON (AP) - President Reagan's renewed yearning in his inaugural speech for a “far better way” to protect the United States against nuclear weapons reflects an age-old goal: the perfect defense against attack. Reagan’s 1983 proposal for research into a “Star Wars” defensive shield touched off a global debate among defense experts and scientists about whether such a system is technologically feasible and if it is, whether it would make the world safer or more dangerous. In his inaugural speech Monday, Reagan said such a shield would be “a far better way” to protect the nation against Soviet nuclear weapons than relyyig on the current doctrine of mutual destruction that says attack is avoided by the threat of massive retaliatory destruction. “Such a shield would not kill people, but

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A technician at Proctor & Gamble in Cincinnati places either a natural diamond or a manmade zirconia into a bottle of Spic and Span as part of a $lO million campaign

Soviets openly admit Chernenko is ill

c. 1985 N.Y. Times News Service MOSCOW A week after the unexplained postponement of a Warsaw Pact meeting revived questions about the health of Konstantin U. Chernenko, Soviet officials have been saying openly that he is ill. The degree and nature of his affliction have not been disclosed. Some reports have said that he is seriously ill and perhaps hospitalized, but that his life is not threatened.

destroy weapons,” Reagan said. “It would not militarize space, but would help demilitarize the arsenals of Earth.” The one thing that supporters and critics agree on is that any feasible system is a long way off. “We don’t even yet have any real idea what a system would look like,” says presidential science adviser George Keyworth, one of Star Wars’ key backers. Congress’ science arm, the Office of Technology Assessment, was even more blunt last year, saying the prospect that a workable system could be developed is “so remote that it should not serve as the basis of public expectation or national policy.” Meanwhile, the hunt goes on in research labs around the country, watched closely by the Pentagon’s SDI office. That office is headed by Air Force Lt. Gen. James Abrahamson, who had headed

honoring the brand's 60th anniversary. Some specially marked bottles, now on store shelves, contain either the S6OO diamond or the $5 zirconia. (AP Wirephoto).

According to diplomats, Vadim V. Zagladin, a senior official of the Central Committee staff, told the visiting French secretary of state for foreign relations, Jean-Michel Baylet, that Chernenko was ailing. Sen. Gary Hart, D-Colo., who left on Monday after a six-day visit, was reportedly given similar information by Soviet officials. Western diplomats have noted an absence of any sense of alarm or anxiety irr

the U.S. space shuttle project. The Pentagon plans to spend $26 billion over the next five years on Star Wars research, including $1.4 billion in the current fiscal year. Since Abrahamson’s office has less than 100 employees, little will be spent on salaries. Instead, most of the money will be doled out to finance research by private companies or other federal offices, such as the two national research laboratories operated in California and New Mexico for the Defense Department. Abrahamson says the Pentagon wants to develop a “layered defense” which would attack enemy missiles during all four phases of their flight. Those four include the “boost phase”, the four- to six-minute initial stage when the missile’s engines are firing and all the warheads are attached. It is during that

'I didn't have any choice' 'Nice old man' kills teen-age robber in Chicago

CHICAGO (AP) - A 68-year-old plumber who says he fatally shot a teen-ager after the youth stuck “a gun in my ear” is “a nice old man who found himself with his life threatened” and won’t be charged, a spokesman for the state’s attorney says. Harold Brown, who says two masked youths brandishing a knife and gun attacked him as he was leaving a grocery store last week, surrendered Monday after an intensive three-day search by police. “I was on my way home and they come out,” Brown said, “...they go down on me and said, ‘This is a stick-up.’ One had a knife, that’s the one that they’re supposed to have there (in police custody) now. He had a knife.” Brown said the other youth grabbed his arm and put “a gun in my ear. I faked it off

IBM leads explosive advance

c. 1985 N.Y. Times News Service NEW YORK Living up to its reputation as a market bellwether, the International Business Machines Corp. led stock prices Monday in an explosive advance. IBM rose 4% points, to 128 */ 4 , on a turnover of more than 2.1 million shares on the New York Stock Exchange. The world’s leading data processing and computer company also helped power the Dow Jones industrial average to a gain of 34.01 points, to 1,261.37. Wall Street professionals attributed the strength in IBM to a resurgence of buying demand by portfolio managers, on the heels of the company’s report issued last Thursday. It showed that fourth-quarter earnings climbed 16.7 percent, or higher than most projections. Another factor in the stock’s performance, evidently, was short covering by traders who had expected the stock to decline. IBM reported that profits in 1984 increased to $10.77 a share, from $9.04 the

the conduct of Soviet affairs, suggesting that the illness is not considered grave. Chernenko, who is 73 years old, last appeared at a televised awards ceremony on Dec. 27, when he seemed shaky and weak. Earlier, he had appeared at the lying-in-state of Defense Minister Dmitri F. Ustinov, but he stayed away on Dec. 24 from the outdoor funeral ceremonies. According to Western medical opinion, Chernenko appears to suffer from emphysema, an affliction of the lungs.

stage that the weapon is most vulnerable, according to scientists. The other three stages are the “postboost,” when the warheads and guidance system separate from the main missile; the “mid-course,” when the warhead system is traveling through space; and the “terminal,” when the attacking weapons return through the atmosphere on* their way to the target. Although Abrahamson and*- Defense Secretary Caspar Weinberger say it\ too early to tell yet what type of system might be developed, the current research is concentrated in three areas, including lasers, particle beam weapons, and "rail guns.” The particle beam research involves minute, uncharged bits of matter that can travel more than 50,000 mph while the rail guns could theoretically fire small bullets at up to 900 miles per minute.

enough to get a chance to do what I did.” When Brown offered to give the youths all he had, “they continued to say, ‘Shoot him, shoot him,”’ his attorney, Thomas Royce later told reporters at an impromptu police-station news conference. K.C. Cathey, 18, was charged with attempted armed robbery late Monday, police said. Police recovered a knife from him after he was taken into custody Friday, said Sgt. Montgomery Jackson. The shooting victim, who police identified as Detrick Wallace, 18, died Friday. Clad in a tan cap and brown jacket and puffing on a cigar, Brown told reporters he regretted the shooting but, “I didn’t have any choice.” Authorities agreed, and after questioning Brown for three hours,

previous year. The initial response of investors to the report was restrained, with the stock actually dipping l / 4 , to 123%, on Thursday, partly on fears that continued strength of the dollar could affect earnings in the early months of 1985. The stock finished Friday at 124V 8 , up 1% for the week. t “I think that IBM should be given preeminence in any market portfolio,” Daniel Mandresh of Merrill Lynch, Pierce, Fenner & Smith Inc. said Monday. Only a week ago, the computer industry analyst had strongly reiterated his “buy” opinion on the stock. “We believe that the case for investing in IBM is compelling,” he said. “If we removed IBM’s name from the numbers not to mention the endless speculation about its new products we would have a company with margins of 25 percent, a return on equity of 25 percent and a conservative tax rate of 45 percent. Those numbers indicate quality that is head and

Big chill sticking around By MARY MacVEAN Associated Press Writer A massive block of arctic cold already blamed for at least 101 deaths boxed in the eastern third of the nation today after freezing Florida oranges as hard as baseballs, pushing the mercury to records lows and playing a role in the collision of two commuter trains in Indiana. Snow emergencies were declared in several Ohio counties and in the Buffalo, N.Y., area. Gusting winds made many roads impassable. In Buffalo, 27 inches of snow was on the ground or blowing around today. “It’s all upside down,” said Harry Gordon at the National Severe Storms Forecast Center in Kansas City, Mo., noting the temperature at International Falls, Minn., often the nation’s coldest spot, was 3 degrees warmer than the 9 recorded early today in Nashville, Tenn. Farmers in Florida, Georgia, Texas and Louisiana feared for their crops. Officials in Florida said they expected “significant” losses from the bitter cold that has chilled the East since the weekend. In Philadelphia, Mayor Wilson Goode ordered police to take any homeless people on the streets past 4 p.m. to shelters. Paterson, N.J. Mayor Frank Graves ordered people found on the streets to be housed and fed in the city’s new detention center, nearly empty because “in this bitter cold weather, crime is at its lowest. ” Many utilties strained under an increased load and tens of thousands of people lost power temporarily on Monday in at least 10 states from Michigan to Alabama. “The eastern third of the nation will be slow to recover,” said Gordon. “Temperatures are still freezing as far south as West Palm Beach, Fla.” Schools in parts of at least five states from North Carolina to Pennsylvania were closed today for a second day in a row. More than 80 records were set Monday in the Southeast and East for the coldest temperature for the date. Twenty of those were also the coldest temperatures ever recorded, including 4 below zero in Athens, Ga., and 16 below zero in Asheville, N.C. Another two cities equalled their coldest reading ever. In Florida, where it dropped into the in the heart of the state’s citrus belt, industry officials said the second freeze in two winters may have destroyed thousands of trees in the northernmost areas, where hard freeze warnings were posted early today. The temperature was forecast to fall to the single digits in the panhandle. Some growers reported their oranges had frozen as hard as baseballs on Monday. “There will be significant fruit loss in the upper two-thirds of the production area,” said Citrus Mutual spokesman Earl Wells.

decided not to charge him “on the basis that the shooting was self-defense,” said Terry Levin, a spokesman for Cook County State’s Attorney Richard Daley. “In theory, we could have charged him with unlawful use of a weapon,” Levin said. But Brown said the gun used in the shooting was stolen in a burglary of his apartment, and authorities decided it would be impossible to charge him without the weapon, Levin said. Royce told reporters his client “is a victim of a situation which called for reasonable force.” “Basically, he’s just a nice old man who found himself with his life threatened,” said Levin.

shoulders above that of many other major companies in both the computer group and other industries.” Mandresh estimates IBM will earn $12.25 a share in 1985, and added that it was the only mainframe computer company that he now rated as a “buy” for both the intermediate and long term. “lam favorably disposed toward IBM’s stock, and it should show above-average market performance during the next six months,” John L. Rutledge, who follows the computer industry for Dillon, Read & Co., said Monday. He estimates IBM’s profits at $12.28 a share this year and at “a little over sl4 a share” in 1986. “We expect IBM’s total revenues to grow annually at 18 percent, plus or minus 2 percent, and earnings per share to grow at 16 percent, plus or minus 2 percent, over the next five years,” he said. Before its shares began to climb in 1982, the stock traded within a relatively narrow range for a number of years.