Aiken Standard (Newspaper) - September 27, 1989, Aiken, South Carolina
Cubs Clinch NL East
A Quick Read
Hurricane Destroys Civil War Relics
CHARLESTON (AP) — Priceless Civil War diaries and other Confederate relics have been destroyed or damaged by Hurricane Hugo and will be moved today to safer surroundings, the director of the Confederate Museum says.
June Wells says the roof of the Market Hall building — built in 1841 and owned by the city — has blown away, exposing the collection’s flags, papers and uniforms to the wind and rain that continue in Charleston.
“The damage is quite extensive,” said Mrs. Wells, one of the 160 or so members of the Charleston Chapter of the United Daughters of the Confederacy, which owns the collection.
“The reason we’re having to leave so quickly is the ceiling is falling.” Already destroyed, she said, are “quite a few paper items,” including portions of a daily log kept at Fort Sumter by the fortress’ engineer during fighting in 1861 and 1863 after Confederate forces occupied the site.
Discovery Offers Hope Against Cancer
NEW YORK (AP) — A genetic abnormality that appears to play a role in many common cancers has been solidly linked to lung cancer, raising hopes of improved diagnosis and treatment, scientists say.
Researchers examining lung cancer tumors discovered a series of abnormalities in the so-called p53 anticancer gene, according to a report Tuesday by Dr. John Minna of the National Cancer Institute-Navy Medical Oncology Branch in Bethesda, Md.
Defects in the gene also have been linked to colon cancer, to an uncommon bone cancer called osteogenic sarcoma and to chronic myelogenous leukemia, Minna said.
“Obviously, everybody is going to be looking for it in everything else,” Minna said.
During the past few years, researchers have found indirect evidence that defects in at least six genes can contribute to lung cancer.
Cloudy skies and occasional rain are forecast tonight and Thursday. There is a 50 percent chance of rain tomorrow. The high will be in the mid 70s with a low in the mid 60s. Please see details on Page 6A.
Adrion Altman, Vaucluse Booker T. Ashley, Augusta Willie M Goff, Gibson, Ga.
Glanzy C. Gregg, Martinez Orlanda C. Hooper, Aiken Agnes H. McCullough, Warrenville Jenelle M Murphy, Rock Hill James D. Odom, North Augusta Anita R. Scott, Augusta George R. Taylor, Warrenville Wilma R. Wynn, Jackson Please see details on Page 6A.
Wednesday, September 27, 1989
Aiken, South Carolina
Vol. 122 No. 238
Coast Heartened By Public Response
By The Associated Press
CHARLESTON — Tons of supplies, including food, tents, shoes and even diapers and dog food, are pouring into hurricane-ravaged South Carolina, where tens of thousands remained homeless for a sixth day today.
Authorities planned to distribute food and clothing throughout the city today.' Officials in outlying areas also devastated by Hurricane Hugo, meanwhile, pleaded for help.
About 300,000 residences or buildings remained without power across South Carolina. An estimated 50,000 of Charleston’s 65,000 residents were still out of their homes, said Mayor Joseph P. Riley Jr.
But officials were heartened by the relief effort across the nation.
“The interest and concern and compassion and generosity of the citizens of our
More Stories.......................Pages 5A, IB
country is extraordinary,” said Riley.
While most of the national attention centered on this historic port city, which took a direct hit from the storm Thursday, officials in outlying areas expressed concern relief supplies were not flowing to their communities.
“People are hungry. We are in desperate need of a whole lot of help,” said the Rev. Frank Maddox of Sumter.
The Red Cross planned to open disaster centers in Williamsburg, Horry, Georgetown, Florence and Sumter counties today to provide for immediate needs such as food, clothing, temporary housing and medical supplies.
More assistance is needed.
(Please See COAST, Page 5A)
Storm Costly To Entire State
By The Associated Press
COLUMBIA — If a special legislative session is called to deal with funding for Hurricane Hugo relief efforts, Gov. Carroll Campbell says he will ask lawmakers to forgo salaries and expense pay during the session.
Campbell said Tuesday he hopes a special meeting of the General Assembly won’t be necessary. However, he did say South Carolinians not affected by the storm’s damage will still probably feel Hugo’s effect financially.
“We can expect sacrifices to be made in the existing state budget to
meet the needs of this disaster,” Campbell said.
Federal officials announced Tuesday that five more counties had been declared disaster areas — Calhoun, Clarendon, Florence, Lee and York.
Those counties are added to seven already on the disaster list — Charleston, Georgetown, Horry, Berkeley, Dorchester, Orangeburg and Sumter counties.
Campbell said it’s still too early to elaborate on what type of sacrifices will have to be made to take care of the
(Please See STORM, Page 5A)
FIREHOUSE PET: When you don’t have a mascot, you create one, as did Barnwell’s firemen at their station
Staff Photo By Scott Webstar
house. The mascot is a hydrant painted to resemble a dog named Sparky, who even has his own doghouse.
Merger Creates 14th Largest Bank
By MARC RICE AP Business Writer
ATLANTA — Five months after spuming a takeover bid from NCNB Corp., Citizens and Southern Corp. has agreed to a $4.7 billion merger with Virginia-based Sovran Financial Corp. that will create the nation’s 14th-largest bank.
C&S and Sovran announced the deal Tuesday, saying the merger has been discussed over the past two years. The combined banks, which will maintain separate headquarters under a new holding company, will have assets of $47 billion and 976 offices in seven states and Washington.
The new company will be called Avan-tor Financial Corp.
“We are creating a large, nationally competitive franchise with a powerful presence in major high growth markets, and we’re underwriting it with superior credit quality,” the two banks said in a joint announcement.
“We feel ifs a perfect fit,” said C&S spokesman Scott Scredon. “We don’t
‘We feel it’s a perfect fit...We both feel it couldn’t be any better.’
— C&S Spokesman Scott Scredon
overlap, our management cultures are very similar, and we each double our market presence. We both feel it couldn’t be any better.”
In terms of assets, the merger would create what C&S described as the 14th-largest bank-holding company.
The friendly nature of the merger was in stark contrast to the mood in April, when Charlotte, N.C.-based NCNB targeted C&S in a $2.4 billion takeover bid that would have created the nation’s sixth-largest bank.
During a tense, monthlong courtship by NCNB, C&S officials refused even to discuss the deal. NCNB eventually withdrew the offer, saying it did not want to get
involved in a long fight.
“This is an extremely friendly deal,” said Lacy Shockley, a banking industry analyst with Smith Barney in New York. “NCNB was unusually hostile. Here, you have two very similar banks. This is the truest merger of equals I’ve ever seen.”
Ginny Mackin, an NCNB spokeswoman, Tuesday declined to comment on the C&S-Sovran merger. “We don’t comment on what other banks do,” she said.
Scredon said the boards of the two institutions approved a definitive agreement Tuesday. He said final approval from shareholders and regulatory agencies is expected during the first quarter of 1990.
Under the merger agreement, each of Sovran’s 59.8 million shares of outstanding common stock will convert into 1.23 shares of the new company’s common stock. Each of C&S’ 62 million shares of outstanding common stock will convert into 1.0 shares of the new company’s common stock.
(Please See MERGER, Page 5A)
President: Must Take Debt Risks
Special Attention Called To Plight Of East Europe
By The Associated Press
WASHINGTON - President Bush says banks must accept a “new realism” and accept some losses on bad loans to help ease the Third World debt crisis.
At the same time, he was expected to urge the 152-nation International Monetary Fund in a speech today to give special attention to funneling Western financial aid to “emerging democracies” in the Communist bloc.
Bush was making last minute revisions to his speech to the IMF and its sister organization, the World Bank, adding new sections dealing with Poland and the Soviet Union, White House aides said.
But, in advance of the speech, Bush gave a group of international bankers a hard sell in behalf of his administration’s debt-reduction plan, crafted by Treasury Secretary Nicholas Brady.
At a White House reception Tuesday night, Bush told the bankers and officials of the IMF and the World Bank they ah had “key roles to play” in helping to ease the Third World’s staggering debt.
“Special efforts have been asked of the commercial banks as part of this new approach,” Bush said, according to a copy of Bush’s remarks made available today by the White House.
The so-called Brady plan, unveiled last March, endorses voluntary efforts on the part of commercial banks to forgive part of the $400 billion they are owed by the largest debtor countries, many of them in Latin America.
However, banks have been reluctant to endorse the plan because it requires them to partially forgive old loans, then turn around and make new ones.
Bush praised debt-relief packages worked out so far under the plan for Mexico and the Philippines, saying: “I realize these negotiations were difficult. It is not easy for banks to recognize losses.” “The results, however, reflect a new realism on the part of the commercial banking community in approaching the debt problem,” he said.
“This is an international problem, which requires collaboration and innovation to make lasting progress,” Bush told his White House audience of 73 bankers, officials of the World Bank and IMF and
(Please See PRESIDENT, Page 5A)
Westinghouse Agrees To Testing Of K-Reactor
By BUDDY WALLER Staff Writer
Although Westinghouse Savannah River Co. officials declared earlier this month that K-Reactor does not need ultrasonic testing to check for cracks in its tank before it restarts, the company will abide by the decision Tuesday from U.S. Energy Secretary James D. Watkins that the testing must occur.
At a meeting at Savannah River Site this month of DOE’s Committee on Nuclear Facility Safety, J.M. Morrison, Westinghouse program manager of the
reactor tank inspection plan, told the panel that Westinghouse thought the ultrasonic testing of K-Reactor need not take place until after it had operated for one full cycle of prodcing tritium.
Today, Westinghouse spokesman Dean Hoffman said, “It’s DOE’s call whether (the testing) is necessary before” K-Re-actor begins operations again.
“If DOE thinks it’s necessary, that’s exactly what will be done,” Hoffman said.
K-Reactor began producing materials for U.S. nuclear weapons in October, 1954. It shut down in April,1988, for man
agement and equipment improvements.
Earlier this month, Watkins approved a plan that would have the reactor back in operation sometime during the last three months of 1990.
Asked whether the ultrasonic testing could delay the restart of K-Reactor, Hof-man said, “It could. We really don’t konw what the impact will be. There is a potential for a delay.”
As for when the testing might occur, Hoffman said, “We don’t have a schedule at this point.”
Some members of the DOE safety committee expressed skepticism about Wes
tinghouse’s recommendation against ultrasonic testing.
Morrison defended the proposal. He told the panel that a videotape examination of the K tank in December 1986 showed no sign of cracks, only some minor gouges, scratches and corrosion.
Brian Costner, director of the Energy Research Foundation in Columbia, said today that the ultrasonic testing of K-Re-actor “has definitely been a big concern for us. We have always felt the opposition (to testing) was a clear indication that production is more important than safety at DOE.”