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High Point Enterprise Newspaper Archives Oct 10 1974, Page 3

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High Point Enterprise (Newspaper) - October 10, 1974, High Point, North Carolina Gunmen Fly out hostages freed by terrorists by Ike Flores associated press writer Santodomingo dominican Republic of a american Diplomat Barbara Hutchison was in Good spirits and joking after seven leftist terrorists released her and six other hostages in return for Safe conduct out of the country. A suddenly i became a tremendous bargain. I went from a million to nothing a the 47-year-old american quipped to newsmen wednesday night after the 13-Day episode ended. The gunmen originally demanded $1 million Ransom and the release of 37 leftist prisoners. They got nothing except a Safe getaway. The terrorists who had held the hostages since sept. 27 in a second floor room of the venezuelan consulate were flown aboard a special dominican Jet to Panama where they proclaimed Victory and said they were exhausted. As they left the Boeing 727 at Ocumen International Airport near Panama City the gunmen led by leftist Radhames Mendez Vargas were met by it. Col. Manuel Antonio Noriega chief intelligence officer of the panamanian National guard. Miss Hutchison director of the . Information service in the dominican Republic said she and the other hostages were treated Well during the siege and even High Point Enterprise thursday october to 1974 3a Bank failures accent Odic importance e weather la Horn National. What co sufi act. Noaa. U s Ca of of co inmate forecast of in show Low Tam Par at Erat Tipoff and am Felt Doy to done Moi met let mme i Fly ass Filiti ii e3 muffin i a a it Vio tool f a Tai Alf _ m la in. Dry and warmer continued dry and warming weather is in store for the High Point area according to the National weather service forecast. The probability of rain through Friday is near Zero. Today should be sunny with highs in the Middle 70s. Tonight is expected to be Clear with lows in the mid forecast North Carolina fair today through Friday. Warmer Friday. Highs today mostly Low and Middle 70s with highs Friday upper 70s. Lows tonight mostly 40s except around 50 Southeast portion. South Carolina sunny and mild today and Friday. Fair and Cool tonight. Highest today and Friday Low to mid 70s. Lowest tonight mid 40s to around 50. And upper 40s. Friday should be fair and warmer with highs nearing 80. Winds Are expected to be variable at five to to Miles an hour today and Light tonight. Temperatures by the associated press 24 hours ending 8 . Edt station h l or Asheville Clr 72 37 Augusta Clr 78 45 Charleston Clr 74 45 Charlotte Clr 69 46 Columbia Clr 77 43 Greensboro Clr 69 42 Gre Ville . Clr 68 41 Raleigh Clr 68 40 Savannah Clr 77 52 Wilmington Clr 72 47 3-Day forecast North Carolina extended Outlook saturday through monday partly Cloudy and mild with a Chance of showers Over the weekend. Highs mostly 70s. Lows mostly 50s. Barbara Hutchison developed a something of a Friendship with their captors. But she said there were Many tense moments the most difficult being a the waiting and then the various crises As they occur. There was a package of dynamite and we were living with she said that gunmen and hostages alike often were Short of water. The government intermittently allowed food and drink to be taken to those inside the consulate. Miss Hutchison told newsmen that despite her ordeal she intends to continue her tour in the dominican Republic that began in 1972 after a Long Usis career in other parts of latin America. A Mendez bet me $5 that i would have to leave the dominican Republic because he said All diplomatic Kidnap victims have to leave the country once they Are treed Quot she said. A but i was informed that i would have the option to go or stay and i told Mendez i was the hostages a who also included two secretaries a messenger boy a Spanish priest and the venezuelan Consul and vice Consul a were greeted by joyous friends and relatives when they emerged from the consulate. At the same time the terrorists were driven to the Airport to Board the special jetliner. The gunmen took Over the consulate after they kidnapped miss Hutchison from outside her office about eight blocks away. In the Early Days of the siege the gunmen claimed that 23 terrorists were involved. Government officials until wednesday morning thought there were six of them. But a Usis photographer sent inside the building to photograph them for travel documents said there were seven. Washington a Bankers and government regulators say two record setting Bank failures illustrate the soundness of the system for assuring savers they wont be left empty handed if their Banks collapse. The successive failures of the . National Bank of san Diego and Franklin National Bank of new York have presented the Deposit insurance system with its heaviest financial Challenge yet but the Bankers and regulators say those Are isolated instances of poor banking practice. In both cases All depositors were fully protected even though government insurance guarantees full Protection Only to accounts of $20,000 or less. The Keystone of the insurance system is a $5.8-billion fund controlled by the Federal Deposit insurance corporation the Agency behind the Odic embossed on the doors of 98.5 per cent of the nation s commercial Banks. A similar Agency the Federal savings and loan insurance corp., covers a like share of the nations savings and loan associations. The Keystone is buttressed by the governments readiness to borrow $3 billion introducing. Glenn Corpening More to support savings accounts by the efforts of Bank regulators to pinpoint trouble before it mushrooms into disaster and by the readiness of the Federal Reserve system to unleash its massive Money resources. Until this year the Odic which grew out of the wreckage of the 4,000 financial institutions that failed in 1933, had to dip into its insurance fund for Only $100 million to make Good deposits in the 502 Banks that had failed. No Saver covered by Odic insurance lost a Penny. Of Dick a record of full repayment to 99 per cent of depositors at insolvent Banks even includes deposits exceeding the Legal maximum. But the Odic still is paying to Salvage the remains of the . National Bank of san Diego which was responsible for $934 million in deposits when it went under and was sold to Crocker National Bank of san Francisco. The latest estimate pegged the Cost to the Odic at $48.3 million. And now the insuring Agency faces the Prospect of picking up after the Franklin National Bank which held deposits of $1.7 billion when it was sold to european american Bank and Trust co. Tuesday. The Odic Hasni to estimated its costs for Franklin. Federal officials consider both cases to be caused by problems unique to the two Banks rather than any other underlying defect in the banking system. In the san Diego instance officials Point to dealings Between the various corporations controlled by c. Arnholt Smith the Bank a controlling shareholder. The Franklin situation was tied to the Bank a speculation in foreign currency trans actions they say. The fund amounts to Only 1.21 per cent of All insured deposits but assurances of repayment go deeper. When a Bank fails the Odic Steps in to take Over a Bank a property and assets to make sure depositors get their Money first. And frequently the failed Bank is simply merged into another solvent Bank. Thus in Only 297 of the 502 Bank failures since 1934 has the Odic actually had to pay depositors. you re invited to attend a revival big value Saleh limited quantities with super savings to everyone shop thurs. Amp Fri. Til 9 saturday to 6 Boyd furniture co. 214 w. Green is. Boyd furniture co 4$ to we Are pleased to announce that Glenn Corpening is a principal of our company. Rogers insurance Agency inc. 882-8105 e a a a 205 e. Westwood ave., High Point n. C. At Bethel Baptist Church Cox Avenue off Baker Road october 6-12 7 30 each evening speaker Rev. Westle Johnson from Gastonia . Singing each night Darrell Cox pastor 5uuuuuuuuuut j. A Hulsla St is sch s u jjuuuuuuujij3 costly yaps or duplications Iii your business insurance let us review your present insurance with you to see if you re getting the proper coverage no More no less at the proper Price. Consult an Export Stop in or phone 885-5024 representing new Kemper Jow c. Perce Ash it darn Jujj am it Michaele Smyk High Point Bank and Trust insurance department 414 s. Main St. Small enough big enough Kemper insurance for every size insurance need 10 31 your Happy shopping store downtown and Westchester mall Arrow t get into something sexy join the Arrow brigade this is the shirt that shapes up As the sexiest thin of for men in years. Arrow does it by cutting out the bulk and building in the body. With fastidious tailoring. Strategic Back darts. Western Yoke. Flap pocket. Adjustable cuffs. Everything calculated to show the world the great shape you re in. Of you measure up the brigade begins at $13.214 w. Green St tel. 882-3919

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