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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Aug. 31, 1982)
/Page 10 31,1982 national Battalion/Page 11 August 31, 1982 iank 'flirting with disaster’ /ear before closing — report rganizationa iim. United Press International OKLAHOMA CITY — A re- onal banking official warned 1 P' m - in tin inn Square Bank directors arago that they were “flirting TIONlFirs ^ di saster >” a newspaper re- must send irtet * over t ^ le The Journal Record said in a _pyright story that minutes of a s a mp colo|]y29 ! 1981, meeting in Dallas owed the warning was issued i'st meetingai Clifton A. Poole Jr., regional ninistrator of national banks. “We find in our opinion — iu don’t have to accept it, but iu ought to — that Penn pare Bank is flirting with dis- iter,” Poole said. ; The paper said that during ig a i 8 p.m, 7 p.m. in60] mg to discuss Building. m eatures ael, Dr. Mar- Jr., Katlinn I Roberts. sm Hall .ins, a fonnci the same meeting bank examin er George Clifton told the dire ctors 121 law violations had been uncovered in an examination of the bank. Clifton said 46 of the alleged violations directly involved dire ctors and executive officers of Penn Square Bank, the paper said. The paper said the minutes quote Clifton as saying three of the violations concerned the bank’s legal lending limit and were “very serious, as such viola tions create a personal liability on each director in the event of a loss related thereto.” FDIC officials have said banks may loan no more than 10 per cent of their capital to any indi vidual, corporation or director. The bank listed $33 million in capital at the end of 1981, indi cating the loan limit was $3.3 million. In the story by reporter Floyd Stanley, the paper said Clifton told the directors they were not providing the necessary direc tion to management, and he talked of “significant deteriora tion” in the bank’s loan base. Although Penn Square listed $4 million in credits as prob lems, the examiners had placed the number at $32 million, with $17 million “classified substan dard or worse,” the minutes state. When they closed the bank July 5, federal regulators esti mated the bank’s assets at less than $40 million and its bad loans at about $50 million. The liquidity crisis which re sulted in the bank’s closing was not its first, the Journal Record said. The bank had borrowings in excess of net liquid assets on four days in 1981, “resulting in the (bank) having no liquidity on those days,” the paper reported. The paper said directors were reviewing their liability insur ance coverage a few weeks be fore the bank collapsed. hicago welcomes archbishop United Press International HICAGO — Archbishop oh L. Bernardin, formally ailed last week as head of the ition’s largest Roman Catholic •chdiocese in private cere- lonies, celebrated mass with 10,000 followers in a picnic- roftheLord fie atmosphere at a lakefront irk. The people came Sunday t from Souiliaring jeans and baseball hats ng a 20-yeaiid spread blankets on the iracy toco® ound for the hour-long mass, wspaper it ikh marked Bernardin’s final racy to bur stallation rite as leader of the a state high ition's largest Roman Catholic chdiocese of 2.4 million mem- value judg elder Lord f fame andl'A — or ly, includin] 1, and 2, as well as ms residenls J rrs, agospe >m Brewton i Sunday and Hall to charge li || iui donation Visitors of evangelis§te wo of w year mt, “My first words to you can only be: I am glad to be among you, glad to be one of you,” he said. “I am a newcomer in Chica go, but you have made me feel like a neighbor, an old friend, indeed a family member. Today we celebrate the unity of us all.” Bernardin’s homily message was “we are all family ahd we all need each other.” Ann Moreschi of suburban Oakbrook said, “This is the way Jesus wanted it — under God’s sky. This is thrilling. We’re all very excited.” Bernardin, 54, took com mand of the archdiocese last week amid services before priests and special dignitaries. But Sunday, the man who re gards himself as an equal rather than a spiritual boss mingled with his people. “I am deeply moved as I look out at the number of people who have come out to greet me. From my heart I thank all of you for your presence,” Benardin, Chicago’s seventh archbishop, told the crowd. Many waved pennants and hoisted banners that said “Welcome Archbishop Bernardin.” The park was the site of a massive outdoor liturgy during the 1979 visit of Pope John Paul II. The altar used Sunday was OP expects few ongress losses ivhon ig United Press International WASH INGTON — President ’s political advisers ex- ct Republicans to lose fewer an 20 seats in the House this — less than half the average ss for the party in power. At the same time, they antici- the GOP will pick up one or seats in the Senate, where e party now holds an edge of Republicans to 46 Demo ns. Rejecting forecasts by some olitical pundits that the GOP " lose 30 to 40 seats in the ouse, one White House advis- said: “The expectation for us to have minimal losses. We on’t expect to lose even 20 :ats.” In the Senate, he noted, the emocrats are defending 22 in- imbents to the Republicans’ ,and the trends are “heading way.” “We expect to pick up a seat or two,” in the Senate, he said. The House has 242 Demo crats, with one vacancy, and 192 Republicans. Traditionally, the president’s party loses an average 38 House incumbents in the off-year elec tion. The Federal Election Com mission reported Sunday that the Republican campaign com mittees are raising nearly eight times more money than their Democratic counterparts for the 1982 elections. | across from Brazos Savings J AGGIELAND SUB-WAY Eastern-Style, Texas-Size Submarine Sandwiches 109-111 Boyett St. (Next Door To Campus Theater) 846-8223 WHOLE OR HALF SUB SANDWICHES 1. Pressed Ham 2. Pressed Ham-Cheese 3. Boiled Ham-Cheese 4. Boiled Ham-Cheese-Salami 5. Boiled Ham-Cheese-Capocollo 6. Salami-Cheese 7. Salami-Cheese-Capocollo 8. Roast Beef 9. Roast Beef-Cheese 10. Turkey 11. Turkey-Cheese 12. Turkey-Cheese-Ham 13. Peppered Beef 14. Peppered Beef-Cheese 15. Peppered Beef-Cheese-Salami 16. Capocollo-Cheese 17. Pepperoni-Cheese 18. Pastrami 19. All Cheese 20. All Stops on the NYSW 21. Pizza 22. Bar-B-Q ('A lb.) all tubs garnished with lettuce, tomato, orsgano & our own special Italian dressing. e'S.r* TRY OUR DELUXE SALADS & SALAD BAR! 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