New Braunfels Herald Zeitung, July 26, 1983, Page 6

New Braunfels Herald Zeitung

July 26, 1983

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Issue date: Tuesday, July 26, 1983

Pages available: 26

Previous edition: Sunday, July 24, 1983

Next edition: Wednesday, July 27, 1983

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All text in the New Braunfels Herald Zeitung July 26, 1983, Page 6.

New Braunfels Herald Zeitung (Newspaper) - July 26, 1983, New Braunfels, Texas Ready for the vote Senate will probably approve MX missile WASHINGTON (AP) — The Senate la poised to give its approval to the MX missile, a weapon described by opponents as heating up the arms race and by supporters as a bargaining chip needed to force the Soviet Union to reduce its own nuclear arsenal, After more than two weeks of debate, the Senate was scheduled to vote today on efforts by Sen. Gary Hart (D-Colo.) and other liberal Democrats to cut out funds for production and deployment of the MX. The House voted last week to permit the Reagan administration to go ahead with the MX, which would be deployed deep inside existing underground silos in Nebraska and Wyoming. Assistant Republican leader Ted Stevens of Alaska predicted Monday that between 55 and 60 of the Senate’s IOO members would support the intercontinental weapon, which is far more accurate and powerful than previous U.S. weapons. Each MX carries IO warheads compared to three on each Minuteman III missile, the mainstay of the current U.S. land-based force. In a previous MX vote, the Senate supported the missile 59 to 39, but at least two known Republican supporters, Barry Coldwater of Arizona and Pete Domenici of New Mexico, were expected to be absent for health reasons. One MX opponent, Sen. Fritz Hollings (D-S.C.) was absent last time, but was expected to vote today. Specifically, the issue before the Senate is whether to authorize $4.5 billion for research and production of 27 MX missile by 1989. On the recommendation of a presidential commission, President Reagan has endorsed the idea of eventually installing IOO MXs while the United States negotiates arms control with the Soviet missile is deployed. In debate on Monday, Sen. John Tower IR-Texas) chairman of the Senate Armed Services Committee, argued that the MX is needed as a ’‘negotiating lever" that will give the Soviets pause and could lead to a substantial reduction of older missiles on both sides Tower said the Soviets have only agreed to real missile reductions when the United States has made it clear it intends to match the Russians weapon by weapon. Tower conceded that the MX missile is partially vulnerable to attack from Russian-based land missiles, knit added, "I don't think this should fall on one flaw alone ... We are forced to do what we can given the political environment of the moment.” Hart challenged Tower's argument, saying, * ‘There is yet to be made an argument for putting the MX in vulnerable silos." New Braunfels Herald Zeitung    Iuesday, July 26. 1963    3Grand jury to hear lawyers in Mattox case Power supply default could cost jobs SEATTLE (AP) - The Washington Public Power Supply System’s default on $2.25 billion in bonds for two abandoned nuclear plants could jeopardize the state’e future bond sales and cut 20,000 jobs out of prime industries, a consultant’s report says. The utility consortium announced Monday that it is unable to meet its obligations under the bonds, bringing on the biggest bond default in U.S. history. The impact on the state could be substantial, Gov John Spellman said, relying on data from consultants. But Spellman said he would fight "to assure that none of these things happen." The report, by the Chicago consulting firm of Knight-Bonniwell this year, concluded that a "WPPSS penalty" of up to 2 percent could be demanded on future bonds sold by the state and other public agencies in the Pacific Northwest. It also predicted that up to 20,000 jobs could be lost, particularly in construction, high energy-use businesses and the pulp, paper and transportation industries. Small investors fear they may bear the brunt of the default. “The little people are paying for this some way or other," said Betty Fullmer of Rexburg, Idaho, who along with her husband, Theo, invested $80,000 in WPPSS bonds in 1976 to ensure a carefree retirement. They may not get back any of the money or any interest. "When you’re our age, you can’t start over again," said Mrs. Fullmer, 66. Her husband is 70. She said insurance companies that own bonds will pass the losses on to customers and "rich people ... will use it for a tax writeoff. We’re neither ’’ Chemical Bank of New York, trustee for the bondholders, will soon file suit against the 88 utilities that had contracted with WPPSS for construction of the plants and the governing body of the supply system, according to William Berls, a Chemical vice president. He said the suit could amount to $7 billion, including the value of bonds and interest Two WPPSS plants have been mothballed, and one is scheduled to come on line next year Construction was started on plants 4 and 5, but they were abandoned after the construction program ran into huge expenses and questions about the need for the energy they would provide. Most utilities have refused to pay expenses for those plants unless ordered to by the courts In response to a demand by Chemical Bank, WPPSS handed over more than $25 million Monday but admitted it did not have the rest of the $32 million Rowed. It was thought WPPSS would have as long as 90 days to try to make up the missed payments, but Berls said WPPSS' written admission of inability to pay "constitutes an immediate event of default.” AUSTIN (AP) — Grand jurors looking into Attorney General Jim Mattox’s 1982 election campaign financing reports want to hear from attorneys with a prominent Houston law firm who allege Mattox threatened to put the firm out to of the bond business Thomas McDade, Wiley Caldwell and Gibson Gayle, all of Houston, and Edward Esquivel of Dallas were supoenaed to appear before the Travis County grand jury today All four are with the firm of Fulbright & J a wor ski McDade, a Fulbright & Jaworski partner, told reporters Thursday that Mattox threatened to put the firm out of the bond business unless McDade agreed not to question Dills attorney Janice Mattox, the attorney general's sister. Mattox denied making the threat The attorney general and the Houston law firm are opponents in a SI.7 billion lawsuit filed by South Texas rancher oilman Clinton Manges against Mobil Oil Corp Manges sueid Mobil over oil and gas taken from his ranch Mattox intervened or Manges’ behalf because the state owns some of the mineral rights to the land McDade said he wanted to question Ms Mattox about her $135,000 loan from a Seattle bank and any financial ties with Manges However, McDade said Mattox held up a $329 million bond issue by the I»wer Colorado River Authority, which also is represented by Fulbright and Jaworski. JIM MATTOX IX’RA Finance Director Jesse I»gan said he was told by Robert I>ewis, chief of the attorney general s local division, the bond issue approval wuld be held up because of differences between Mattox and Fulbright and Jaworski The attorney general's office later notified the IX*RA that the problem had been resolved McDade said Mattox agreed to let the IjCRA deal go through after McDade volunteered to withdraw Ms Mattox subpoena and not question her. Mutiny battles continue in Mideast By THE ASSOCIATED PRESS Syrian-backed PIX) mutineers battled loyalists in east Lebanon today with intense artillery barrages and tried to encircle and isolate them, Beirut radio stations reported. The attack by renegade Col. Saed Mousa’s rebels touched off house-to-house fighting in the Bekaa Valley town of Jdeita, 19 miles east of Beirut just north of the international highway, the radios said It was the fourth straight day of fighting between rival factions in the Palestine Liberation Organization. Meanwhile, in the Israeli-occupied West Bank city of Hebron, four masked gunmen drove up to the Arab University and raked the building with gunfire today. Israel radio reported two people killed and IO wounded. The Tel Aviv military command said four men wearing masks attacked the university, but that it had no firm casualty count. Hebron has been tom by tension since a Jewish seminary student was stabbed to death by Arab assailants three weeks ago. Jewish settlers who live in Hebron have threatened retaliation The fighting in Jdeita continued after seven hours, and reporters said PLO chief Yasser Arafat’s fighters were holding their positions They said ambulances brought out four wounded combatants from the town, but the ambulances could not get back in because of the intense fighting If Jdeita falls to the rebels, Arafat's forces near the highway would be encircled and their supply routes from the Baalbek area 19 miles north severed, state and private radios said. The loyalists, led by Col. Abu Ahmed Ismail, vowed a "fight unto death" in a telegram. OFFICE CARPETS need our cleaning protection. We ti clear Them expert!y- once or regularly-to Detect your business investment (We Clean Graperies and upholstery toe ) Can Terry Streuer tor tree estimate 129-1322 h*v 8 1 Wes? Reagan to focus on activities in Central America WASHINGTON (AP) — As President Reagan moves warships into position off both coasts of Central America, administration officials are planning stepped-up ground exercises in the volatile region In a nationally televised news conference tonight at 7, Reagan is expected to focus on the military activity    that presidential communications director David R. Gergen says has been treated with "an awful lot of hype." The session with reporters will give the president "an opportunity to put things in perspective,” said Gergen. The latest U.S. military maneuvers in the region include sending the battleship New Jersey to join the growing U S. fleet off Nicaragua, a decision Pentagon sources revealed Monday. The ship movements are tied to the administration's opposition to Nicaragua's Sandimsta government and its support for the Salvadoran government under attack by leftist insurgents. Hwrald-Zfitung T ay lex Communications inc (USPS 377 880 lf you have not received your paper by 5 30 pm Tuesday through Friday or by 7 30 am Sunday, call 625 9144 or 658 1900 by 7 p rn and 11am, respectively Published Sunday morning and Tuesday Wednesday, Thursday and Friday afternoon by New Braunfels Herald Publishing Co . 186 S Casten Ave , New Braunfels TX 78130 Second class postage paid at New Braunfels Herald Publishing Co, 186 S Casten Ave, New Braunfels TX 781 IX) BANKING ON TEXAS By Pat and Jack Maguire A financial panic halpad make Fort Worth, in 1873. lark of money forced the Texas & Pat ific Railway to stop building its westward line at Eagle Ford For three years, that town was the cattle shipping point in Texas Population quadrupled When the money panic ended in 1876. the TAP boil* on to Fort Worth and Eagle Ford became only a flag stop In 1V40. it gave up its identity altogether and now is a part of Dallas ****** T**a# may be on* of th* few arca* of the nation w here people have been paid to coiled insects The boll weevil, that pest of the cotton patch, was the object. Farmers tried everything to stop the insect that was ravaging their crops. In 19()0, eight years after the critters had migrated from Mexico and began eating lexas cotton, farmers decided to hire crews to pick the weevils off the bolls They offered to pay for all weevils delivered in a fruit jar For a couple of years, hundreds of Texans went weevil-pic king Their hard work didn’t stop the pest, however, and the practice was abandoned. Money Maker*: In the early 1800%, change was so scarce in Texas that residents cut large coins into eight pieces, or “bits " Flence “two bits" became a quarter of a dollar, “four hits" a half, and so on. A GARAGE SALE (FAMOUS FOR THE FABULOUS VALUES!! All Departments Of Denson's Plus The Collection Ladies Apparel And Sami's Fine Jewelry Combined Sale Of Sales! SAVE AS MUCH AS 50% TO 75% OFF STARTS Thursday, July 28 9 a m. in the rear of the courtyard and parking lot under the trees at 173 S. Seguin (Landmark Square) AH LAK IT ff ti* Dave Kramec Claude Scruggs Elnora Kraft Robert Johnson Pete Lewis Cheryl McCampbel! Don Avery Carol Avery Gus Elbe I Roland Kraft Wanda Lasater Kan Mitchell..... Patricia Ymage King General Manager ....... Publisher Office Manager Editor Retail Advertising Manager Classified Manager Circulation Manager Photocomp Foreman Press Foreman Print Shop Foreman Kaleidoscope Editor Sports Editor ............Wire    Editor T*mm saved Sa mu el Colt froM bankruptcy. The inventor of the famous revolver disc overed that nobody wanted it. The Army said it was too small. Others rejected it because it had to be dismantled for reloading. Because it shot five times, however. Texans loved it They bought it in such quantity that the Colt Company was saved Subscription Rates In Comal, Guadalupe Hays Blanco and Kendall Counties 3 months, $8 55, 6 months $15. one year $27 In Tecas 6 months, $24, one year $45 Out of state 6 months $30. one year $50 Senior Citizens Discount In Comal, Guadalupe, Hays, Be car Blanco and Kendall Counties. 6 months. $12, one year. $22 Poatmaat*r: Send address changes to P O Drawer 361. New Braunfels, TX 78130 _ GUARANTY STATE BANK On the Square and on the Level. Member FDl.C NEW MOTOR BANK AT 153 LANDA. Member of Mercantile Texas Corporation and FDI C |    IU    W    rt-JtS    to»r»nn.    AS    r+trn    »—n«ai 173 S. Seguin The Gift Store for New Braunfels 625-3325 ;

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