10 Jun 1986
Page 1
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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 10, 1986
Page
1
A New York Times Service analysis traces insurance crises to 1980s price wars that pushed risky coverage and broke industry discipline. Regulators and executives warn of rising rates and scarce availability, while calls for restraint mix with fear of a renewed cycle.
The Dow Jones industrial average fell nearly 46 points on Monday in the biggest one day point drop in history as major houses used computerized trading to unload shares after discrepancies arose between stock and stock index futures markets. The index has become prone to wide moves.
Forecast calls for a mix of clouds and sun with humidity and a couple of showers. High near 77 degrees. Tonight stays warm and sticky with a possible thunderstorm and a low around 63.
Inside the Daily Telegraph a summertime travel guide highlights Virginia's Great Southwest and the Mountain State with places to go and things to do. Lewis Grizzard of the Atlanta Constitution joins the Daily Telegraph editorial page three times weekly starting today, with his humor column running Tuesdays Thursdays and Saturdays. Vol. 91, No. 161.
A closeup inside the solid rocket booster shows a section of the joint with an arrow indicating where the external flame plume may have burned through the casing. The image highlights a potential failure point as investigators assess the breach.
The president's shuttle commission ruled the Challenger explosion had a single physical cause the failed rocket joint but faulted NASA and the rocket maker for a broader pattern of engineering and managerial failures. It urged action to fix booster rockets before next flight and noted authorities had sufficient information last August to act. The 13 member panel delivered the 256 page report to President Reagan at the White House, with the president endorsing its safety recommendations.
The analysis cites a single direct cause from a seal failure in the shuttle booster rocket and urges a redesign before restart. It stresses review of critical systems including tires, brakes, steering and crew escape provisions. It forecasts major system changes and a shift toward military payloads with no space amateurs aboard for many missions.
Mountain Security Savings Bank customers woke Monday to find deposits held as Carteret Savings Bank of Morristown New Jersey acquired Mountain Security and its Virginia branches in Wytheville Bluefield Galax and Pearlsburg. Carteret said all branches remain open and functioning. State Sen. Danniel J. Bird Jr. cited foreclosures on bad loans as Mountain Security's cause with foreclosed property largely in Arizona. Auer said customers will not be affected and staff remain at the four branches.
A House tour of Grundy and Big Rock mines in Grundy and Big Rock, Virginia, hear coal executives led by Amvest Corp. president Carl W. Smith urge rail competition reform. They cited a 30 percent price drop since the Staggers Act while rail rates stayed steady, calling for automatic access to rival rail lines at market prices and critiquing rate-setting by ICC and courts.
EPA official Ann Cardinal said Bluefield’s surface and drinking water tested clean for dioxin and PCB contamination. Tests followed reports of dioxin at Joy Manufacturing’s former Washington Street center. EPA confirmed site contamination but water samples were negative. Mark Bugher of West Virginia Water Company noted routine comprehensive testing.
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