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Pennsylvania Towanda Daily Review Newspaper Archives Feb 2 1983, Page 2

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Daily Review (Newspaper) - February 2, 1983, Towanda, PennsylvaniaTwo a the daily review. Wednesday february 2, 1983 late Selloff spurs Market s Retreat new York apr Stock prices staged a Broad Retreat in a late Selloff tuesday amid concern Over prospects for rising interest rates and falling Oil prices. The Dow Jones average of 30 industrials which Rose 10.95 Points monday fell 15.91 Points to close at 1.059.79. Five stocks fell in Price for every three that Rose on the new York Stock Exchange. Analysts attributed the Retreat in part to a perception by investors that the Federal Reserve Board had stopped pushing interest rates lower at a time when record government borrowing to finance huge deficits could drive rates higher. Another Factor was the spread of Price cutting in the Oil Industry. The Stock slide came despite remarks by president Reagan to autoworkers in st. Louis that a a the shoots of an economic recovery Are beginning to push through the falling Oil prices would contribute to holding Down inflation and would lower expenses for utilities and airlines. But a drop in Oil prices also could reduce earnings for Oil companies and aggravate the International financial problems of developing nations relying on Oil revenues such As Mexico. Gulf Rose 4 to 294, but Exxon fell 4 to 294. Getty dropped 24 to 524. Mobil Slid 4 to 254. Standard Oil of California declined 14 to 314. And Standard Oil of Indiana fell 1 to 39 v Alcan aluminium topped the Active list As of the 4 . Est close of the nose Down 4 at 28. In trading that included a Block of 3.2 million shares changing hands at 28 a share. Salvadoran troops make big push Berlin al Salvador apr about 1.500 government troops were reported advancing tuesday to try to Roll Back the biggest rebel Victory so far in the 39-month-old civil War. About 500 guerrillas of the leftist Faramundo Marti National liberation front took Over Berlin an agricultural Center of 30,000 people in Southeast al Salvador. Monday evening after rebel snipers prevented reinforcements reaching less than 100 National guardsmen National police and local militiamen defending the town. Forty civilians were reported killed by air Force bombing runs and rebel Bazooka and mortar attacks. Seven Square blocks including the town Market were burned to the ground and Many other buildings were set afire. The government Force made its last stand monday afternoon in the National police Headquarters in the Center of the town. Bush makes Call for nato Unity the Hague. Netherlands apr vice president George Bush called tuesday for Unity in the Western Alliance and told the dutch a guard dogs and watchtowers Quot Are the Mark of the soviet system. Bush spoke at a glittering Royal banquet offered by Queen Beatrix. The Netherlands is his second Stop on a seven nation tour of jittery allies to promote the North Atlantic treaty organization s plan to deploy new medium Range nuclear missiles in Western Europe Bush is to meet wednesday with Premier Huud Lubbers and foreign minister Hans Van Den Broek. Who support president Reagan s a Zero options proposal that would cancel the scheduled deployment later this year of 572 nato nuclear missiles in Western Europe if the soviets eliminate their missile Force aimed at Western Europe. There has been Strong resistance Here on the plan to place 48 of the nato missiles on dutch soil and four successive governments have postponed a decision. Blinding Snow winds hit Midwest blinding Snow and gusting winds left drifts up to 10 feet deep in places across the Texas Panhandle. Oklahoma and Kansas on tuesday blocking roads shutting schools and halting Industry. No injuries or deaths were reported tuesday from the huge storm system which also spread Snow in Colorado and rain and tornadoes that damaged Homes and businesses in Mobile. Ala. On monday the storms claimed seven lives five on Texas highways and two in Louisiana tornadoes. Typical of the snowbound communities was Liberal. Kan., a City of 14.6 h people on the Oklahoma Border w Here More than a foot of Snow fell tuesday and Gusty winds up to 35 mph blew snowdrifts 6 feet deep across l he roads panel says social Security will remain Safe if Congress leaves plan intact Washington apr a bipartisan commission s $168 billion Rescue plan should keep social Security Safe through the 1980s provided Congress realizes it in t a a Loose agreement that can be the panels chairman testified tuesday. Economist Alan Greenspan declared also that if Congress fails to wipe out All of social Security s deficit it would Send a a terribly negative signal to financial markets that . Budget deficits Are out of control. Greenspan told the House ways and Means committee that there is no room to alter a anything substantive anything which resembles a key element in this a it would create a re ignition of inflationary forces. Push Long term interest rates up from where they Are. Abort a nascent recovery and i think create problems for this nation which i have very great difficulty even contemplating a a he said. Ways and Means chairman Dan Rostenkowski who has vowed to try to Speed a Rescue Bill through Congress in two months praised the commission for defusing a a num Ber of alternatives Long considered too explosive to noting that the commission Barclay school North Owondo n 265 9620 a consider 1. Academic excellence 2. Individualized learning 3. Non competitive atmosphere 4. Children enjoy school 5. Wide Range of activities 6. Certified teacher 7. Parental involvement 8. 5 1 student to teacher ratio 9. Affordable tuition 10. Transportation available was divided on How to wipe out the final one third of social Security a Long term. $1.6 trillion deficit. Rostenkowski. D-ill., said a i Trust that Congress will have the steel to Settle the question a the commissions package of higher payroll taxes a six month freeze on benefits and a tax on some retirees social Security benefits would generate $168 billion in new revenues or savings Over the next seven years. Over the next 75 years the moves also would wipe out two thirds of the Long term deficit. A majority of the 15 commission members favored raising the retirement age from 65 to 66 by the year 2015. Then indexing it to life expectancy so that it would reach 67 by 2030 and 68 by 2060. Five Liberal democrats suggested a tax increase in 2010 instead. President Reagan and House speaker Thomas p of Neill. Mass. Already have pledged their support to the pact that commission Leader hammered out with White House negotiators on Jan. 15. But former rep. Joe Waggoner. D-la., one of the three dissenters on the commission attacked the Deal and warned his former colleagues on the ways and Means committee a let me Tell you something. Social Security is broke but you can to fix it with what the commission has recommended to he said the commission was perpetuating the mistake that Congress has made in the past of using a Overly optimistic economic assumptions a and he warned. A in the Short Range you la be Lucky a very very Lucky a if we get Waggoner said Congress should tailor social Security s benefits to its revenues not raise the 6.7 percent pay Roll tax or make some retirees pay income tax on half their benefits. But Greenspan and four other commission members a three business leaders and former social Security commissioner Robert m. Ball a praised the pact. Martin Luther reformer and Bible translator nailed his 95 theses to the door of a Witten Burg Church in 1517. His original theses were directed against the Sale of indulgences by the dominican Monk Johan Tetzel. The documents were burned As heretical but copies spread throughout Germany. Luther known As the founder of protestantism died in 1546. Area forecast wednesday. Rain possibly beginning As sleet or freezing rain in the morning. Highs in the Low 40s. Winds Easterly 15 to 25 Miles per hour. Wednesday night. Rain possibly heavy at times. Lows in the upper 30s. Thursday. Rain tapering off to flurries. Highs in the upper 30s. Precipitation probability increasing to near 100 percent wednesday and wednesday night and decreasing to 60 percent thursday afternoon. A the most often used words Are and extended forecast Friday through . Flurries in the North and partly Cloudy in the South Friday. Fair saturday and sunday. Lows in the 20s Friday dropping into the teens saturday and sunday. Highs in the 30s Friday mid 20s to Low 30s saturday and sunday. Temperature role yesterdays temperatures. Max. 38. Min. 28. No precipitation. An earthquake at Catania Italy in 1693, killed 60,000 people. Special Purchase americans top Selling Bono copiers Sharp of 750 compact copier free office compact _ electric typewriter county Reg. $389.00 office Supply amp equipment inc. I. Owondo a. 18848 offer expires february 28, 1983 the Elba route 17c, Overly . 607 565 4813 entertainment a a 5 nights a week special no cover on.wed., feb. 2 / i al wednesday february 2 9 to 1 Quot Down under Quot i d required thursday february 3 9 to 1 _ Quot Down under Quot m00 cover id required Friday february 4 10 to 2_ Quot Onyx Quot m 00 cover i d required saturday february 5 10 to 2 Quot Down under Quot m 00 cover i 0 required _ sunday february 6 9 to 1 _ Quot Down under Quot �?�1 00 cow i d a quid soup kitchens opened in Philly Philadelphia apr soup kitchens have opened in the nations fourth largest City for the first time in 50 years with volunteers giving out meals to the victims of hard times. The salvation army opened soup kitchens for the indigent at four locations in the City monday said maj. Alice Stehly director of family services for Philadelphia plans Call for feeding about 100 people daily at each Kitchen. Philly homeowners get reprieve philadelphian facing the loss of their Homes through mortgage defaults received a reprieve tuesday while in Pittsburgh the City Council voted to postpone the sales of houses belonging to unemployed workers who have failed to pay property taxes. To the cheers of people packing the Philadelphia court of common pleas. President judge Edward Bradley imposed a one month delay on sales of single or two family houses owned and occupied by people who have defaulted on their mortgages. In delaying the feb 7 sheriffs Sale of More than 310 properties. Bradley suggested lending institutions and homeowners try to work out financial arrangements within the month. Tim cleanup will Cost less Harrisburg apr cleanup of the damaged three mile Island nuclear reactor Likely will take an additional two years to Complete but at slightly less Cost than originally estimated Plant officials said tuesday. New projections conclude that deluding and decontamination of the reactor and containment building will be finished by mid 1988. Instead of 1986. But the Price tag should be about $975 million instead of the $1.03 billion estimated in july 1981. Tuesday s lottery number Harrisburg apr the winning number tuesday in the Pennsylvania daily lottery was 0-5-1 seasonal merchandise ladies children men buy now save 30% and More on. Mid Winter clothing Towne Toggery Athens a ladies Paluzi ifs Toggery Sayre a entire family i k flt it hot make the most it a with our a k 1 it a Fiill details available at any office the member Odic National Bank or Bradford county Towanda Ulster new Albany n0bth Towanda wills Imo Ciemins Landing Sayre South a vial >50> Pancake supper wednesday february 2 adults $2.75 preschool free children under 12 $1.75 Western Auto vyyalustng.pa-746-3436 factory direct dealer All you can eat sponsored by Wysox fire co. Be a Bruard sub a Lub Ljubi tonight ladies night special a Quot Dave Whitehead and Tim Lyne 2 formerly last Call v s Folk Rock / oldies 1.00 thursday night Quot Jinx Beer blast special a featuring Kevin Murray Friday amp saturday night Quot clock work Quot m Kuusk it entry l0ckset 88 classic Typo design m Bright brass finish turn Button Interior keyed exterior with dead Latch delivers High Quality perform Manee easy installation makes this a popular replacement Bocksel 400t-us3-cp 87i open Mon. Fri. 8 6 saturday 8 s Birds hardware .\jvlonroeton_265-3874j, a have a heart. On monday february 14. Remember your special Valentines with a a Ift of Russell Stover candies. We have a wide variety of traditional heart boxes As Well As your favorite boxed assortments specially decorated for the Holiday. Foil Satin or velvet hearts help you express yourself to friends relatives and that special Valentine. Have a heart a give the finest in chocolates and butter Bons a Quality you be known and loved for Over 55 years from 3 a o the card shop 417 main Street Towanda you a Leto a lot of Money when you save dial a quote Don t renew your old Auto insurance until you get a quote from James Ward insurance Erie insurance group Ohio casualty group selected risk co. Wysox 265-2879 Best Sayre Motel presents a the great escape a two night three meal Delight featuring the following package a spacious guest room color Cable t.v., for arrival Friday departure sunday breakfast on saturday and sunday enjoy steaks and eggs if you like dinner on saturday evening prime rib it s yours for the asking this entire package for Only $115 double occupancy 2 persons $84.50 single occupancy 1 person tax and gratuity included for reservations Call 717-888-7711 300 s. Wilbur Avenue exit 60 or 61 Sayre a. Off it. 17 so relax and leave the City for the great escape close proximity to Cross country skiing j

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