14 Oct 1989
Page 1
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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Oct 14, 1989
Page
1
The CIA and federal groups are using satellites to map clandestine drug labs and coca cultivation in South America and to locate remote growing sites. Plans aim to track ships and planes smuggling narcotics into the United States, with most work kept secret to avoid tipping off operatives.
The Senate approved a bare-bones deficit reduction bill and delayed indefinitely a vote on cutting the capital gains tax. The 141 billion measure aims to mimic automatic spending cuts under Gramm Rudman, with the conference to resolve House and Senate differences before Monday.
Tens of thousands join victory marches in Johannesburg Cape Town Durban and other cities praising government plan to free eight jailed anti apartheid leaders led by Walter Sisulu aged 77 and six others. Nelson Mandela remains jailed though release expected later. the eight include ages 60 to 80 and were sentenced in 1964 for planning sabotage.
Hundreds of oil-rig workers fled the Gulf as Tropical Storm Jerry strengthened toward hurricane force off Mexico. A watch extended from Port Arthur Texas to the Mississippi River mouth. Forecasters warned Jerry could further intensify while evacuations from offshore rigs began and crews prepared to shore if rigs shut down.
New York traders eye a possible rebound after Friday’s Dow drop as experts weigh a quick stop to losses. Analysts cite caution about spillover effects on small businesses, housing and durable goods, with mixed views on the market’s next move.
Treasury Secretary Nicholas Brady sought to reassure Americans that the steep slide in stocks did not reflect a fundamental economic deterioration. He noted the prior year had seen a 591 point Dow rise and cited Friday’s late session selloff following UAL’s bid collapse, with about 200 billion in paper wealth erased and traders reacting emotionally amid computer driven selling.
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