Banner Graphic, Volume 18, Number 26, Greencastle, Putnam County, 7 October 1987 — Page 2
A2
THE BANNERGRAPHIC October?, 1987
Despite negative vote Tuesday
Reagan urging Bork 'to stay with it'
WASHINGTON (AP) - President Reagan held a surprise meeting today with embattled Supreme Court nominee Robert H. Bork at the White House and urged him to “stay in it,” his spokesman said. The two men met for 25 minutes, White House spokesman Marlin Fitzwater said. Asked if Bork had asked that his name be withdrawn in the face of the Tuesday’s negative vote by the Senate Judiciary Committee, Fitzwater said, “Absolutely not.” “My interpretation is that the president wants to fight it out and we have no indication otherwise from Bork,” Fitzwater said. “The president said, ‘I urge you to stay in it. I urge you to keep going,’” Fitzwater said. The spokesman said Vice President George Bush, Attorney General Edwin Meese 111 and Chief of Staff Howard Baker Jr. were also present at the session. The spokesman said the session was held to “discuss strategy, where things stand and where we go from here.”
Cuomo in '88? Don't bet against it
WASHINGTON (AP) waiting room of an allergist's office, the expectation Mario Cuomo will run for president was as strong as the pollen outside. “I hear from people real close to him,” a liberal activist said, dabbing at an irritated nose “that he’s going to get in after Super Tuesday.” Why is it that no matter how often the New York governor denies any intention of becoming a late entry in the 1988 Democratic presidential race, the expectation continues that he will do just that? Obviously, there are some very vocal Democrats worrying about their party’s chances of finding a winning candidate in 1988, especially after watching the swift destruction of the candidacies of Gary Hart and Joseph Biden. There also is the matter of status, what Cuomo calls “celebrity.” On the Republican side, two of the contenders are •'the vice president and the GOP leader of the Senate positions
STORAGE PROBLEMS? Rent Clean, Dry, Private Space at THE SPACE PLACE 2 Locations: 626 Tennessee St., Greencastle Stardust Hills Rd., Cloverdale Call Frank Hutcheson: 653-4782 Bob Evans: 795-3187 Office: 600 Bloomingfoa St., Greencsefle 653-3141
A ▼ £ / / ./y w.occept 40 Sav-A-Check W.I.C. Vouchers & Food Stamps f Specials j 7 featured Pepsi, Slice, K Pepsi Free, Mt. Dew Wig| It J mX. J 12 pack - "^po«H w cans FREEZER MEAT SPECIAL 20 LBS. BEEF 20 LBS. PORK 5 Lbs. Bnls. Beef Stew 5 Lbs. Pork Cutlets 5 Lbs. Bnls. Arm Steaks 5 Lbs. Loin End Chops 5 Lbs. Bnls. Chuck Steaks 5 Lbs. Sausage 5 Lbs. Bnls. Chuck Roast 5 Lbs. Pork Steak to lbs, all for $ 35.99 2Q tbs, oil f0r 5 29.49 10 lbs. Ground Beef *10.99 10 lbs. Lean Ground Chuck *13.99 110 lbs. Platter Bacon *13.99 Ham Salad 2 lbs. *2.95 Macaroni Salad 79* lb. Colby Cheese *2.39 lb. Prices Good thru Sat., Oct. 10,1987 Butcher Block ®f| 608 Tennessee St. Iff Til
Asked again if the possibility of a withdrawal had been discussed, the spokesman refused to characterize Bork’s position. “I can’t speak for Bork,” he said. He said there were no further meetings scheduled today between Bork and the president, but that Reagan was to see a number of senators to continue to press for the nomination. Reagan, seen briefly by reporters during a picture-taking session with a visiting Soviet agricultural official, refused to answer most questions about Bork but did say, “I have not changed my position. ” He has declared repeatedly that he would fight for the nomination all the way to a Senate floor vote, no matter how bleak the outlook. Asked if an announcement on Bork could be expected today, Reagan said, “I have no way of knowing.” Senate Republican Leader Bob Dole of Kansas, in remarks on the Senate floor, said he had met today with Bork. “He is obviously looking at all of his options,” Dole said. Dole added that he didn’t know
rn ■I fs I? 1
MARIO CUOMO Back in the race?
that give them a kind of status none of the Democrats has yet attained. Never mind that George Bush seems to be on a downhill roll and Bob Dole’s fondness for tart quips has gotten him in trouble in the past and that both of them
Custom Silk Screening at A.J.'s Sporting Goods 'We can Silk Screen letters or custom designs on caps, jackets, sweats, or TShirts with quick delivery. ‘Team and Group Discounts 22 W. Washington St. 653-7386
whether Bork was asking that his name be withdrawn. The Republican leaner said there still are 10 or 12 undecided senators, “still enough to confirm the nomination.” He added that among Republicans, there is “a feeling there ought to be a vote. I conveyed that to Judge Bork.” At the White House, one key administration strategist, speaking on condition he not be identified, said of the Bork nomination, “It’s not in good shape. There’s a certain reality setting in.” This source said that while the president was holding to his position, the decision was now up to Bork. Bork sustained yet another setback today as Sens. John Breaux of Louisiana and Richard Shelby of Alabama became the ninth and 10th Southern Democrats announcing oppositionn to Bork in a region that had been considered crucial. Hours earlier, Sen. Patrick Leahy of Vermont told an interviewer. “I think the president ought to ... allow Judge Bork to withdraw his name for the sake of the judge and
finished behind television evangelist Pat Robertson in a recent lowa straw poll. They have status. Hart had that status and kicked it away. Cuomo has it and so does Sen. Sam Nunn of Georgia, and possibly Sen. Bill Bradley of New Jersey. But it is Cuomo, who could claim the title “America's Keynoter” after his stirring performance at the 1984 Democratic National Convention, who most tantalizes the “there-must-be-someone-else” faction of the Democratic Party. How often he has slammed the door on a possible candidacy. But he never locks it. From Cuomo himself comes these responses as recently as Sunday on the CBS-TV show “Face the Nation” : Asked if wants to be president, Cuomo said, “I am very happy being governor.” Pressed on the question, he said, “No. I’ll never be president.” He went on: “We have terrific
Dow drops by 100 points
NEW YORK (AP) Stocks tumbled in a selling spree that wiped nearly 100 points from the Dow Jones industrial average, Wall Street’s biggest one-day drop ever, but analysts were unfazed by what amounted to a $73 billion paper loss. “It’s not the beginning of a great big decline,” said Lewis Smith of Bear Stearns & Co. after the bestknown measure of stock market performance fell Tuesday by 91.55 points, or 3.47 percent, closing at 2,548.63. The previous record for a one-day drop in the closely-watched average was on Sept. 11,1986, when it skidded 86.61 points. As a percentage of the Dow, however, Tuesday’s decline didn’t compare with Black Tuesday, the worst day in Wall Street history. On Oct. 28, 1929, in the midst of the Great Crash, the average fell 38.33, closing at 260.64 for a loss of 12.9 percent. The drop Tuesday in light trading
Vote Democratic
■
MICHAEL HARMLESS Mayor
CLAUDIA WILLIAMS Second Ward Councilman
Better Candidates for a Better Greencastle Your Vote Will Be Appreciated November 3rd Paid for by Mike Harmless for Mayor Committee, Michael F. Hurt Treasurer
his family but also for the sake of the country. Until this (consideration of Bork) is out of the way, we can’t even start confirming another nominee.” Leahy is a member of the Judiciary Committee who voted with the 9-5 majority that opposed Bork on Tuesday. Reagan, meanwhile, says he has no intention of pulling the nomination and one of his staunchest Senate allies said today it’s too early to talk of a replacement for Bork. Sen. Orrin Hatch, R-Utah, said talk of another nominee is premature. Interviewed with Leahy, he claimed the White House and the public still can persuade enough senators to support Bork’s nomination on the Senate floor to win confirmation. “I hope that there’s still an opportunity, a good opportunity to have Judge Bork confirmed,” Hatch said. “It’s going to take a lot of work on the part of the White House ... I still think Judge Bork can win it if the people out there get mad enough about what’s happened.”
candidates on the Democratic side, better than I am. They don’t need me.” He may be right on all counts that he’ll never be president, that the Democratic field is a bunch of terrific guys and that the party will do just fine without him. If Cuomo waited until after March 8, he’d have missed his chance to get on the presidential primary ballot in all but a handful of states. He’d even miss New York, which he probably could carry as a write-in candidate. He also would be totally dependent on no other candidate not a Gov. Michael Dukakis of Massachusetts or a Rep. Richard Gephardt of Missouri emerging from the early events as a clear front-runner. Cuomo’s best hope is a deadlocked convention, a situation in which the delegates would be looking around for someone to deliver them from chaos. But Cuomo says he dreams no such dreams.
was blamed on anxiety over rising interest rates and on gloomy forecasts, reportedly including one by the idiosyncratic Robert Prechter, that the market had reached a short-term high and would drop back. “This thing fed on itself,” said Smith. “It became a pyschologically involved decline.” Prechter, a psychology graduate and former rock drummer who has attracted a wide following because of what traders call remarkably accurate forecasts based on such trends as skirt lengths and rock lyrics, was rumored to have issued a bearish forecast on his private hotline. A.C. Moore of Argus Research Corp, predicted a continuation of the bull cycle because corporate profits are expected to keep climbing and the Federal Reserve Board is unlikely to restrict credit significantly.
JUDITH BERRY Clerk-Treasurer
r Jr* -
MICHAEL ROKICKI Councihnan-At-Large
*-V
SUE MURRAY Third Ward Councilman
ppr— -w |||f 1
ROBERT H. BORK: The fight continues
Wooden boat capsizes, 50 refugees said dead
SANTO DOMINGO, Dominican Republic (AP) A wooden boat filled with refugees capsized in shark-infested waters off the Dominican Republic, killing at least 50 and leaving scores missing, officials said. Rescue workers picked up 32 survivors. many suffering from sun exposure and injuries, and took them to two hospitals. Eugenio Cabral, head of this Caribbean nation’s civil defense, estimated that between 100 and 150 Dominicans were on the launch when it overturned Tuesday morning in rough seas off the northern coast of the Dominican Republic. The craft had been headed for Puerto Rico, where the passengers were apparently hoped to find jobs. Cabral said in a telephone interview that several small fishing boats, a light plane and a Dominican navy launch and air force helicopter were being used in the rescue effort, which was continuing today. He said that based on his observations from a plane flying over the area where the ship sank in the Atlantic Ocean, “there are many
Another reason for the lack of concern, besides the small size of the drop as a percentage of the Dow Jones average, is that wide swings in the market have become commonplace, largely because of computerized program trading, which allows professionals to unload stocks quickly. The 10 biggest daily gains in the history of the Dow Jones average all took place this year. Eight of the 10 largest daily losses also have occurred since Jan. 1. Over the course of these gyrations, the indicator soared more than 826 points, from 1,895.95 to 2,722.42, before falling back to its current levels. Tuesday’s plunge wiped out $73 billion in share values, according to Wilshire Associates of Beverly Hills, Calif. The market value of 5,000 NYSE, American and Over The Counter stocks tracked by Wilshire fell to $3,156 trillion.
B ■ "H ■ T Jig-.
SHERI ZELLERS ROACH First Ward Councilman
ROBERT SEDLACK Fourth Ward Councilman
dead, more than 50.” “I saw sharks eating the bodies of the people,” said Cabral. The craft, thought to have been powered by an outboard motor, was headed toward Puerto Rico, a U.S. commonwealth and the closest land area from the eastern point of the Dominican Republic. Authorities said the craft left a beach area near the town of Nagua,' on the northeast coast of the. Dominican Republic, about 4 a m. Tuesday and that the vessel overturned two to four hours later, about five miles offshore. Police said they detained for questioning 152 people who were waiting on the Nagua beach to take a launch to Puerto Rico. Police said they wanted to learn who agreed to transport the people on the ship that sank Tuesday. Those detained were expected to be released today or Thursday. Beaches on the northeast coast of' the Dominican Republic often serve as jumping-off points for Dominicans aiming for jobs and abetter life in Puerto Rico and eventually the U.S. mainland.
Prime rate advanced to 9.25 percent NEW YORK (AP) Several major U.S. banks raised their prime lending rates to 9.25 percent from 8.75 percent today, about a month after the banking industry lifted the key rate a half percentage point. Chase Manhattan and Citicorp were the first to announce the increase, followed by Chemical Bank. Manufacturers Hanover, Continental Illinois and Morgan Guaranty. Others were expected to follow suit. The prime is the benchmark used by banks to set interest rates on a variety of corporate and consumer loans, including some mortgages. It was raised to 8.75 percent from 8.25 percent on Sept. 4. The last time the rate was as high as today’s level was in early March 1986, when it was lowered from 9.5 percent to 9 percent. The move had little effect on early trading in the financial markets. Near midday, stocks were mixed and bond prices moved higher.
Banner Graphic (USPS 142-020) Consolidation of The Daily Banner Established 1850 The Herald ’ The Daily Graphic - ' • Established 1883 Telephone 653-5151 ' - ’ Published daily except Sunday and Holidays by ‘ . Banner Graphic. Inc. at 100 North Jackson St., Green--castle, IN 46135. Second-class postage paid at • * Greencastle, IN. POSTMASTER: Send address - . changes to The Banner Graphic, P.O. Box 509, Green- ’ . castle. IN 46135 Subscription Rates Per Week, by carrier ’1.20 Per Week, by motor route *1.25 Mail Subscription Rates R.R. in Rest of Rest of Putnam County Indiana U.S.A. 3 Months *17.40 *17.70 *19.00 6 Months *32.25 *32.80 *36.70 1 Year *63.00 *64.00 *72.70 Mail subscriptions payable in advance . . . not accepted in town and where motor route service is available. Member of the Associated Press The Associated Press is entitled exclusively to the use for republication of all the local news printed In this newspaper.