07 Nov 1985
Page 1
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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Nov 07, 1985
Page
1
Shareholders of Bankers Trust of South Carolina approve a merger with NCNB Corp in under ten minutes. About 78 percent of eligible shares voted for the deal, 2.6 percent against. The merger awaits federal approval and would make the bank a wholly owned NCNB subsidiary.
A Japan Airlines Boeing 747 carrying 132 aboard drifted about 60 miles east of its Tokyo Paris via Moscow route on Oct 31 in a sensitive zone near where a Korean jet was shot down. Soviet warplanes scrambled but the jumbo jet corrected course without incident.
The House Ways and Means Committee rejected Reagan's push to repeal tax benefits for 401(k) retirement plans and to narrow another program. The committee moved to expand 401(k) usage while opposing his proposal to widen spousal IRAs for nonworking spouses.
A list of deaths from multiple locales including Elijah Smith Aiken Fannie Coffman Bath Woodrow Prescott North Augusta Willie Courtney Aiken Calvin Quiller North Augusta Mary Permenter Aiken Dock Gilliland North Augusta Hattie Mackie North Augusta Mary Ware Aiken Richard Renaud Augusta Marguerite Marshall Batesburg Dorothy Watts Augusta Gladys Murray Augusta.
Washington reports the government may run out of cash by November 19 as Congress wrangles over rival balanced budget plans. President Reagan warns failure to act would endanger the nation and cites Social Security fund redemptions as consequences of inaction.
Washington AP Budget talks resume as House and Senate hold firm to own versions. Packwood cautions conference unlikely to solve instantly. Senate passes updated Gramm Rudman plan setting gradual deficit targets from 180 billion to zero by 1991 with automatic cuts unless exemptions for Social Security interest and prior contracts. House version relaxes some cuts for veterans and elderly and poor programs.
Senate textile lawmakers delay, seeking a floor vote on separate textile limits. Thurmond and Hollings press for action while Dole and budget officials fear a veto of the budget package. Reagan opposes the textile bill.
Daniel Mayhoefer, 83, of Los Angeles, won about 4 million in 18 days on four $25 slots at the Las Vegas Hilton. He has left about 25,000 after racks of wins and snagged 928,000 in reported gambling earnings, complicating IRS reporting as casino staff hand him W2G forms. He quips at being strong and bold at 80 while facing tax questions.
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