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Aiken Standard: Tuesday, October 17, 1989 - Page 1

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   Aiken Standard (Newspaper) - October 17, 1989, Aiken, South Carolina                                Sports Rams Fall Short In Buffalo Page 9A A Quick Read Americans Taking To English Bowler LONDON AP The bowler hat enduring symbol of the Englishman is catching the fancy of Americans Although it has been disappearing from Londons financial district where it once was common exports of bowlers are growing particularly to the United States experts say Theres been a marked increase in the number being sold to Ameri cans said Richard Stephenson managing director of the Picadilly hatters James Lock and Co There is also demand from France where gray bowlers are worn to the horse races and from Australia and Africa In Britain today however bowler wearers are viewed by some as mild ly eccentric Judge Gunned Down On Colombian Street BOGOTA Colombia AP A fed eral judge waiting on a street corner for a ride to work was shot and killed this morning apparently by drug traffickers the Colombian radio chain Caracol said Judge Hector Jimenez Rodriguez was killed by a passenger on a mo torcycle as he waited with another judge the radio chain said The gunman got off the motorcy cle walked up to Jimenez and shot him Caracol quoted witnesses as saying in a report from the scene Ticket Faked For Jackpot Nobody Won BRAINTREE Mass AP A man who tried to collect a million lottery jackpot with a forged ticket was arrested by officials who noted the fake was pretty easy to spot The computer drawing didnt produce a winner Ralph Brunner 25 of Newtonyille was charged Monday with forging a ticket for the Mass Millions lottery said state Trooper Ken Halloran The fact that no winning number was drawn Friday night was widely publicized said David Ellis spokes man for the lottery commission The world knew no one had won it he said Weather Rain Likely Skies will be mostly cloudy tonight with a 50 percent chance of rain and a low in the upper 60s Tomorrow will be mostly cloudy with a 50 percent chance of rain and a high in the mid 70s Please see Page 12A for details Deaths John B Byars Aiken Steve Davis Evans Ga Robert H Dietz Aiken Carole M Grealish Grovetown Ga Margaret Morden Toronto Nathaleen P Shore North Augusta B Marion Smith Jr Columbia CF Strom Graniteville Please see Page 5A for details Inside Today Bridge6B Calendar12B Classifieds4B Comics3B Crossword7B Cryptoquote5B DearAbby3B Local Front1B Obituaries6A Opinions4A Sports9A Television3BA Weather5A Page 2 A Thorny Issues Hold Up Deficit Bill Page IB Buffalo Owners Want Suit Dropped COUNTY Council Takes Power Injunction To Supreme Court By PHILLIP LORD Staff Writer The City of Aiken will challenge a court injunction in South Carolina Supreme Court on Wednesday that blocked the city council from taking action Monday night on a controversial power supply ordinance The council is aware of the events narrarated last week city attorney James M Holly told the council Since that time I have filed appropriate paper work with the state Supreme Court to re quest that it overturn the temporary injuction Holly added that the court has sched uled a hearing on the request for Wednes day at 2 pm in Columbia We still do not have a written order from Judge Waller Judge John H Wal ler Jr yet as to what you are expressly adjoined from doing or permitted to do he told the council Because of that and most important ly because of our respect for the state Supreme Court and the sanctity of its proceedings I would recommend that the council take no action on the pending or dinance which has been given first read ing Holly said The council unanimously passed a mo tion to delay action on the proposed ordi nance until a meeting can be held after the courts ruling The issue now is not so much what choice these elected officials might make as it is now the issue is the sanctity of legislative proceedings Holly said You understand our concern is to the significant impact that such a riding would have not only for Aiken but for every local legislative body in this state The proposed ordinance became the target of litigation after the Aiken Elec tric Cooperative filed suit over teh city councils apparent intentions to make South Carolina Electric and Gas Co the primary power supplier for newly an nexed areas An Oct 2 meeting of the council which was to feature a public hearing and sec ond readJig of the ordinance was dis rupted in the final hours when the coop obtained a restraining order that stalled Please See COUNCIL Page 12A j Analysts See No Reason For Panic AP Laserphoto TRADER ACTION Thorpas Bradley American Airlines stock specialist yeiis orders on the floor the New York Stock Exchange Expectations Run High For Rolls Royce Of Spacecraft By HOWARD BENEDICT AP Aerospace Writer CAPE CANAVERAL Fla Hundreds of armed security guards patrolled against antinuclear trespassers as the shuttle Atlantis was fueled for this after noons launch with its plutoniumpowered Galileo probe for Jupiter The billion Galileo is the most ex pensive and sophisticated unmanned spacecraft ever built and should give the best look yet at the mysteries of another planet It is the RollsRoyce of spacecraft said Clayne Yeates one of the mission managers The space shuttle and its five astro nauts were scheduled to lift off at pm It is only the sixth tune in 31 shuttle missions that a launch had been sched uled after noon Liftoff was scheduled for last Thursday but one of the shuttles engine computers malfunctioned and had to be replaced The countdown progressed normally as the launch team began pumping more than half a million gallons of liquid oxy gen and hydrogen into Atlantis external tanks at The mission commander is astronaut Donald Williams The others aboard are Mike McCulley the pilot and mission specialists Ellen Baker Franklin Chang Diaz and Shannon Lucid More than 200 guards on foot in heli copters and boats patrolled the Kennedy Space Center for activists who have said they might try to stop the launch by infil trating a launch danger zone The zone Please See EXPECTATIONSPage 12A By CHET CURRIER AP Business Writer NEW YORK When the results of the past few tumultuous days on Wall Street are eventually added up they will mean more pluses than minuses for American consumers and businesses according to many analysts Mondays 8812point rally in the Dow Jones industrial average to 265738 went a long way toward calming fears that the stock market was headed for a replay of the Crash of 1987 In addition the rebound seemed to but tress the view that Friday the ISths 190 point drop stemmed mainly from con cerns about a single question fading boom in corporate buyouts fi nanced with borrowed money Stocks of two airline holding compa nies UAL Corp and AMR Corp plunged Monday responding to news that take over proposals had run into snags or been withdrawn But in marked contrast to Friday the shares of many bluechip companies not involved in takeover news or rumors staged a strong advance If takeover speculation is indeed on the wane observers say it would take away one of the prime forces that carried the stock market to record highs as recently as a week ago Monday However they argue it also could re duce the perils of credit risk in the economy The unwinding of excesses in lever aged buyouts and junk bonds is very healthy said Edward Yardeni econo mist at PrudentialBache Securities Since the collapse of stock prices two years ago economywatchers have come to see sudden swings in the financial mar ket in a new light Unlike many past debacles the Crash of 1987 neither foreshadowed nor caused a recession In fact many analysts con tend it may have helped keep the econo my healthy in part by prompting the Federal Reserve to relax its credit policy Similarly the jolt of Fridays selloff is likely to shake the Fed into a more ac commodative stance than it would have otherwise pursued said David Resler economist at Nomura Securities Interna tional in New York If we do see a recession in 19901 dont think it would be a result of this market drop If anything troubled observers about the stock markets recent behavior strange as it may sound it was not so much Fridays slump as it was the abrupt rebound on Monday The comeback seemed to presage com placency and perhaps an alltooeager readiness to dismiss the scare as a harm less correction Yardeni for one suggested that the op timists might be overlooking a develop ing downward trend in corporate profits and other vital signs of the pace of busi ness activity There is some genuine softness in the economy he said But as the market closed Monday after noon few observers claimed they would have been preferred to go through anoth er fullblown crash As for investors in stocks mutual funds and other securities the markets wild gyrations seemed to make a new and compelling case for taking a longterm perspective The volatile hourbyhour atmosphere was full of potential pitfalls for anyone who tried to anticipate or react to short term price fluctuations For those who chose instead to ride out the storm the Dow Jones industrials Monday close left it less than 2 points from where it stood three weeks earlier at 265919 on Sept 25 Trade Deficit Widens During August ByJOHND McCLAIN Associated Press Writer WASHINGTON The US trade defi cit after falling for two consecutive months to its lowest level in nearly five years increased to billion in Au gust the government reported today The Commerce Department said the August shortfall represented a 3077 per cent increase from a revised July deficit of billion The widening gap resulted from a 02 percent decline in exports to billion and a 64 percent increase in imports to billion The August deficit was the first in crease since May Economists had been watching to see what effect the rising value of the dollar would have on the trade imbalance A stronger dollar tends to widen the trade gap by making US goods more expen sive overseas while lowering the price of imports to American consumers Rising imports tend to curb demand for USproduced goods thus dampening production and threatening the loss of jobs Exports on the other hand strengthen demand on domestic production and help create more jobs Preliminary estimates had put the defi cit hi August at about billion The nations foreign oil bill increased 04 percent to billion in August The amount of imported oil rose to 867 mil Please See TRADE Page 12A Merchandise Trade Deficit Billions of dollars seasonally aisled import August 88 Aagustf89 10141 824 J1077 Source US Oept of Commerce AP Operating Costs Could Double Under SRS Restart From Wire And Staff Reports Basic monthly operating costs for the Savannah River Site reactors will almost double by the tune Westinghouse Corp restarts them because of more reactor personnel and additional training pro grams according to published reports The site is the nations sole production source of weaponsgrade nuclear materi als used in atomic weapons All three SRS reactors there have been shut down for more than a year to under go safety upgrades and maintenance and are to be restarted in late 1990 and early 1991 The published report details a restart plan submitted by Westinghouse to the US Department of Energy for the plant near Aiken The report said the plants increase is estimated to reach almost million ex tra each month over previous operating years Operating the SRS reactors had cost million monthly in the past Wes tinghouse said but the newspaper report ed that salary and routine maintenance costs are expected to raise the monthly bill to million when the reactors are restarted The reason for the higher baseload routine monthly costs is new tasks de fined in restart that will become part of daytoday operations the plan says More than billion over the next four fiscal years will be needed to restart SRS reactors Westinghouse says This includes million for fiscal 1989 million for fiscal 1990 million for fiscal 1991 and million for fiscal 1992 Westinghouse spokeswoman Becky Apter said the increase is due mainly to 1300 additional reactor personnel and ad ditional training to keep the company in pace with its competitors The plan says major changes also in volve additional fire protection systems and upgrading seismic protection Monthly power costs differ for the three reactors depending on use of differ ent onsite powerhouses power company contracts and the reactors location K Reactor costs about million monthly PReactor about and LrReac tor about million The original plan also included ultra sonic testing of Pand LReactors before Please See OPERATING Page 12A   

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