Thursday, October 6,1983/The Battalion/Page 7
ayor ofEl Paso:
top Def Leppard
'
United Press International
EL PASO — El Paso Mayor
Inathan Rogers called for a
■rmanent boycott of the
Biitish rock group Def Lep-
Wednesday.
The mayor is supporting
ic League of United Latin
nerican Citizens boycott of
e group which started after
-‘Biger Joe Elliott referred to
El Paso as “that place with all
:Jhe greasy Mexicans,” at a con
cert in Tuscon.
LULAC state director, Joe
ata of Houston, called on
ispanic groups throughout
exas to join in the boycott,
en though the group’s agent
id a written apology is forth-
'coming..
El Paso’s population of
450,000 is about two-thirds
Hispanic.
El Paso LULAC Director
Joe Loya said Hispanics had
voted to boycott Def Leppard
and ignore a telephone apolo
gy and trip offer for two to
Europe from Elliott.
Loya said young people do
not understand the signifi
cance of the remark. He called
the offer of a trip to Europe a
payoff and demanded the
written apology from Elliott.
El Paso radio stations en
ded their five-day boycott of
Def Leppard after rock music
fans called in urging station
managers to forgive Elliott.
While El Paso stations had
called off the boycott, a num
ber of radio stations in San
Antonio Wednesday re
portedly were breaking Def
Leppard —rather than play
ing them — on the air.
The lift of the boycott be
gan with El Paso station
KLAQ, which started the
boycott last Friday.
KLAQ General Manager
Charles Cohn said the station,
in supporting the mayor and
LULAC, would reject Elliott’s
offer of gifts and a trip to
Europe, but would play Def
Leppard music because “a
radio station needs to serve its
public.”
Listeners, voted in a poll at
El Paso record stores to play
Def Leppard music by a 60
percent margin, he said.
Midland bank joins list
of financially troubled
United Press International
MIDLAND — The First Na
tional Bank of Midland has in
formed its 1,500 shareholders
that either the bank or new bank
shares must be sold to make up a
drop in equity funds.
Shareholders received a
statement Wednesday outlining
the bank’s financial difficulities
and calling for a special Oct. 14
meeting to decide how the bank
can raise up to $100 million.
The Security and Exchange
Commission and the Comptrol
ler of the Currency are review
ing the bank’s financial status,
the 45-page statement said.
The bank had equity of $122
million in December 1982, but it
dwindled to $862,000 on Aug.
31.
Banking researcher Bob Wal
ters of Sheshunoff and Co. Inc.
in Austin said loan losses de
pleted FNB’s capital.
Walters added that “what
happened to Midland happend
to FNB when the oil industry
slump hit the city.”
FNB is the third oil-rich Per
mian Basin bank to report finan
cial trouble this year. T he Metro
Bank of Midland was declared
insolvent in July and reopened
as Mid-Cities National Bank.
The First State Bank of Odes
sa was closed last week and
reopened Monday under the
same name.
The SEC is reviewing the
accuracy of FNB’s statement of
condition, but the nature of the
comptroller’s review was not
available.
The statement to sharehol
ders said the bank had exceeded
its loan limits, loaned money to
executive officers on favorable
terms, and failed to comply with
securities laws and record
keeping requirements, and also
failed to file reports on loans it
received from other banks.
“The bank has explored a
number of alternatives for a
capital infusion or the acquistion
of the bank. No offers were re
ceived and there can be no assur
ance that any acquisition or mer
ger proposal can be obtained.”
“There can be no assurance
that holders of shares of com
mon stock would receive any
substantial consideration for
their shares (if the bank is sold),”
the statement added.
Bank officials informed
shareholders that they have
been trying to sell the bank since
the end of 1982.
The First Boston Corp. has
been hired on to locate a merger
for the bank.
Delinquent loans increased
this year from $150.4 million to
$314 million on June 30. The
bank currently has borrowed
$530 million from the Federal
Reserve Bank.
A future negative equity
situation was said to be possible,
the statement said, adding that
in such a case the bank could owe
more money to creditors than it
could raise upon liquidation.
ifespan now greater;
Iderly’s health is not
;ht browsing
ival, near the
United Press International
OSTON — The average
erican is living longer than
r before but many spend
|ich of this extended old age in
r health, government scien-
s said Wednesday.
Dr. Edward Schneider of the
Jlitional Institute of Health said
‘ over
care.
ft expectancy has grown
ft years with better health
Schneider, an official with the
NIH’s National Institute on Ag
ing, said 11 percent of the Amer
ican population is now 65 or
more and in 35 years that per
centage will nearly double.
Within the next 60 years, he
said, the percentage of people
85 or more will triple.
Schneider said while the cur
rent life expectancy for Amer
icans is 71 years for men and 78
for women, by the end of the
21 st century it should be over 90.
“But if the health of the elder
ly in the future is not consider
ably different from the health of
the present group, a huge prop
ortion of the population will suf
fer from chronic age diseases,”
he said.
“Our goal as scientists is not so
much as increasing life span, but
increasing the quality of life,”
Schneider said. “Nobody wants
to live to 135 if the quality of life
is horrible.”
lo believe that the d(
imsands of people
nd serious injuries toi
d While the current life
Expectancy for Amer-
■cans is 71 years for
Snen and 78 for
lomen, by the end ol
usands more needs it flic 21st tenlLliy It
ssed without let upb should be over 90.
nts of our society." |
Dermott announced# , ,
l will replace its corpJ But not as much progress has
of 150 automobiles#^ 1 ,nade ‘T th f chl ° nl ‘ dlS ‘
airbag-equipped Fii® ses that afflict the eldeily, m-
■ Co. Tempos. ^dueling arthritis, heart prob-
uems and Alzheimer’s disease an
praised Ford lor its* i ness t j la( mentally incapaci-
he Government Se: tales Schneider said studies
1
e)cccrrul SBaptt.il C. fuxAxJv
708 Eisenhower
College Station, Texas 77840
(409) 696-2317
GAMMILL & MURPHY
October 9-12, 7 p.m.
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UJ
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