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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Dec 12, 1985
Page
1
Wall Street's bull market extended its gains as the Dow Jones industrial average closed above 1,500 for the first time, rising 12.50 to 1,511.70. The index's climb since Sept. 17 reached 213.54 points, marking a milestone after surpassing 1,400 just over a month earlier.
The National Weather Service forecasts cloudy days with rain likely today and tonight. Highs around 55, lows 40 to 45, and rain chances 60 to 70 percent. Tomorrow brings variable clouds and 70 percent rain chances with highs 50 to 55. Weekend highs stay in the 30s to 40s with snow showers and teens overnight.
Editorial notes that West Virginia has endured many blows yet residents repeatedly rally in times of need as shown during the recent flood relief telethon. The piece praises community solidarity and calls for continued support and resilience.
President Reagan ordered lie detector tests for government employees up to Cabinet level to be screened for access to classified information. An unidentified congressional source said as many as 150,000 federal workers and 33,000 private contractors could be covered, but testing will be limited by machine and operator availability. State Secretary George Shultz reportedly opposes polygraphs, with White House comments deeming the plan confidential.
Congress gave final approval to a budget balancing plan aimed at wiping out deficits by 1991, attaching it to a debt limit increase and signaling White House signoff. The House blocked broad tax overhaul despite Reagan urging GOP support, prompting White House pressure as leaders vowed another push next year.
A side by side look at proposed tax changes for married couples filing jointly who claim itemized deductions totaling 30 percent of their income. The analysis highlights how each plan affects taxable income, rates, and potential savings for this typical household profile.
Washington sources report James Miller III submitted a first draft of next year’s budget to President Reagan showing at least 50 billion dollars in non military reductions. The plan reportedly seeks ending Amtrak subsidies and abolishing SBA and Jobs Corps, with deep cuts to state and city aid programs, tighter loan rules, and new user fees including higher park charges. These aims reflect proposals Reagan pressed in 1986 and aim to shift costs to users.
PISGAH VA Coal Products Inc a Tazewell County manufacturer of mining related products was named No 41 in Inc magazine's national list of the 500 fastest growing private companies The firm also ranks No 4 in employment growth with a 6650 percent rise from 1980 to 1984 County leaders Industrial Development Authority and others honored the company at a reception at the National Historic Museum The firm was the only Southwest Virginia firm named to the Virginia contingent of 29 firms on the list.
The opposition backs Corazon Aquino for president while Ferdinand Marcos selects former foreign minister Arturo Tolentino as running mate. The Feb 7 special election faces constitutional questions, possible postponement, and looming communist insurgency as the United States urges military reorganizing.
The Christmas Tree Fund has passed 4 000 and needs about 8 000 more with 12 days left. The appeal hopes to help over 1 000 children achieve their dreams. Send donations to The Bluefield Daily Telegraph Business Office or drop them at 412 Bland St in Bluefield West Virginia.
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