27 Oct 1987
Page 1
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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Oct 27, 1987
Page
1
A cigarette haze hung over the waiting room as white haired women waited in a public safety building. On the second floor, relatives waited while 238 inmates filled a jail designed for 212. Frustration grew as officials discussed the need for more cells to ease crowding.
In Afghanistan, government troops and guerrilla guides ambushed a group of Americans filming a documentary. Names identified include Lee Shapiro and James Landalos, both directors with Sha piro Media Productions. A third American was missing. insurgent radio reported the attack dated around Oct. 11.
Franklin Lakes New Jersey police report a toddler, Colin Barleycorn, fell about 11 a.m. Monday through a rotted wooden cover into a six-foot well in his parents yard. He was rescued unconscious and rushed to United Hospitals Medical Center Newark in critical condition.
In Arizona, the mother of the first lady died at about 12:15 p.m. Monday. The death followed reports that Mrs. Reagan and other officials were to hire from Washington. A White House statement noted the president would fly back on an unspecified date.
In Miami an investor identified as Arthur Kane, 53, who reportedly lost millions in the stock crash, shot and wounded his broker, killed the brokerage's manager, and shot himself at a Merrill Lynch office. Kane, a federal bureaucrat, had an eight million dollar portfolio and faced a deadline to cover losses. A related case from Milwaukee involved Vernon K. Lamberg, who died by asphyxiation after losing about $500,000 amid the Dow drop. Authorities described Lamberg as despondent over market losses.
Global markets react to Wall Street's 804 percent drop as Dow falls 156.83 to 1793.93. Overseas indices swing with Tokyo Nikkei down 4.7 percent, Hang Seng up nearly 7 percent after sharp Monday losses, London FTSE up 46.6 points, while Australian markets slide further.
Inside report shows Reagan and congressional leaders racing to agree on deficit reduction steps amid a sluggish economy. Financial markets face renewed rate worries as the New York Stock Exchange chief John Phelen comments on market stress. Retail sales stumble due to weak wages and ongoing economic soft spots.
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