Thursday, January 17,1985/The Battalion/Page 19
NEWS
n Florida international banks
growing from Latin capital
United Press International
nask, posedk| MIAMI — Latin flight capital
eeking a safe refuge from unstable
one of theslleconomies has all but dried up, but
s made by M foreign deposits are continuing to
panythauul pour into Miami’s international
anks.
Lured by Miami’s gateway-to-
iouth-America location and growth
ts an international financial center,
the pool of foreign cash in Miami is
now at $15 billion, Florida bankers
say.
The U.S. Attorney General insists
some of the foreign currency is illicit
drug money being laundered in
Florida banks. But bankers say the
najority of the foreign cash is from
crease he a; ransactions that used to be made in
Panama, the Bahamas, Grand Gay-
nan and other offshore bank
oranches, away from costly U.S.
banking regulations.
South Florida pulled ahead of
New York in its number of Edge Act
Banks last year, despite the move by
few to close their Miami opera
tions, as thousands of exporters
went out of business because of the
Latin debt crisis.
J. Antonio Villamil, corporate
conomist for Southeast Bank in Mi-
mi, predicted more Edge Act
anks, branches that can be set up in
money centers to conduct interna-
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Corps
(continued from page 1)
■ ra
id
ades my sophomore year than I
id my fish year. I wasn’t under any
tress.”
Simpson said all freshmen wore a
ish stripe, and once the stripe was
aken off you were officially an up
perclassman.
y “We didn’t wear white belts and
ilack belts back then,” he said, “but
if you didn’t wear a fish stripe you
were, per se, an upperclassman and
were treated like one.”
Freshmen and sophomores in the
brps now wear black belts, whereas
uniors and seniors wear white belts,
to the feder<! TTe belts serve as a method of class
distinction.
In 1950 the freshmen were
moved back onto campus, but still
were segregated from the upper
classmen. The freshmen were
of tax-law housed on the north side of campus.
Director of Business Services Don
Powell, Class of ’56, was one of those
freshmen. Powell said he did not
?nl
roperty, anc
personal ami
-educed item-
;s frustrated
ssed.H
i Donald Re
ns for moil’
isidences.
t the tax dt-
dences.
and sman
have figured
:h a proposal
o simply tale
on their pri-
>r the second
ht remain le-
are revised,
e — as sure!
:ment, would know of any hazing of freshmen
while he was in the Corps.
Powell, a former Aggie
bandsman, said Col. Adams (direc
tor of the Aggie Band) held inspec
tions every week to see if anybody
had been beaten.
“Nobody ever was,” he said. “I
know nobody in my class was, in the
band.”
The freshmen had their own
band with about 120 members, Pow
ell said. Two seniors, two juniors and
two sophomores were in charge of
the outfit. He said other than in class
land on campu£, those upperclass
men were the Only upperclassmen
the freshmen encountered.
Powell said that as an upperclass
man “I did have people (under
classmen) run little errands for me,”
he said. “That was common practi-
; ce.”
Though many methods of disci
pline in the Corps have changed
over time, some methods are dis
guised as traditions.
Senior cadet Louis Wilson said the
Corps is dynamic. “It never quits
changing,” he said.
"Tne cadets that are in now have a
unique experience to them,” Wilson
said. “We see a different Corps of
Cadets than they saw in 1950, 1930,
or 1910. Although what happened
then has an effect on us, we cling to
tradition so much sometimes with
out ever thinking maybe they
screwed up, and maybe we’re
screwing up, too.”
Since the death of Goodrich,
Commandant Donald Burton and
his staff have been taking some con
trol away from the cadets and imple
menting new policies in an attempt
eliminate hazing.
But former cadet Will Walton,
Class of’83, said he is not sure taking
control away from the cadets is the
answer.
“A guy coming out of high school
isn’t going to respect a guy one year
older than him unless the upper
classman has got some control over
him,” Walton said. “Nobody’s afraid
ofadog with no teeth.”
Simpson said much of today’s
hazing is the result of an attempt to
replace the board — an axe handle
or paddle used to beat the behinds
of underclassmen.
“I think a lot of these other things
(methods of hazing) have crept m
because they took away the board,”
Simpson said. “They were substi
tutes for it (the board).”
Simpson said the board was used
extensively for disciplining when he
was in the Corps. Though other
methods of hazing may be poor sub
stitutes for the board, he said, they
are improvements over the board.
tional business, may close or cut back
operations in 1985.
With the creation of international
banking facilities (IBFs) in Decem
ber 1981, U.S. banks were allowed to
open separate sets of books and
bring foreign deposits here. The
money must stay for at least two
days.
The $15 billion worth of foreign
deposits in South Florida is up $1 1
billion in three years. Villamil said
“over 90 percent” of the deposits are
interbank transactions.
“The growth in deposits is contin
uing,” said Dennis Nason, a banker
with Credit Suisse, and the former
president of the Florida Interna
tional Bankers Association which
represents Miami’s 89 Edge Act
banks and foreign banking agencies.
The biggest loser has been Pan
ama, Nason said. Panama, which has
grown into a leading financial center
for Latin America, has about $26 bil
lion in foreign deposits.
Although the once robust level of
Latin flight capital slowed to a trickle
last year, bankers said international
banking in South Florida remains
strong because of its diversity.
Foreign banks from Tokyo, Can
ada and Europe are continuing to
open agencies. The agencies and
representative offices — there are
now 50 — are allowed to book for
eign loans to finance trade as well as
take foreign deposits from custom
ers. They are restricted from taking
U.S. deposits.
“This is a change in structure, a
positive change for Miami,” said Vil-
tamil, who said the foreign agencies
are creating a more sophisticated fi
nancial community in South Florida.
“The shift taking place is making
it more than just an international
banking center with a small number
of Edge Acts taking foreign depos
its,” Villamil said. “These are long
term players. They will probably in
crease their presence here.”
The bankers said another reason
for optimism is President Reagan’s
Caribbean Basin Initiatives and the
improvement in Florida’s foreign
trade industry last year.
Miami banks are positioning
themselves for the next 10 years to
benefit from making loans to busi
nesses in the Caribbean and Central
America as markets develop.
“One by one, as the Latin coun
tries get their debt in manageable
form, they can take advantage of tra
de,” Nason said. “We’re in a good
position in Miami to finance that
trade. We tend to do it faster than
New York.”
Woman faces court battle
to protect rights of geese
Associated Press
PLYMOUTH, Mass. — An ani
mal lover won a jury trial on charges
of shoving two hunters who were
stalking geese near her home, and
said she would try to prove that
“their right to kill does not super
sede my right to protect life.”
After a brief hearing in Plymouth
District Court, Dorothy Checchi-
O’Brien said, “It was a matter of hav
ing my peers judge me” on assault
and battery charges filed after the
Dec. 10 incident.
Checchi-O’Brien, 4-foot-ll, 115
S ounds, allegedly assaulted the
unters when she confronted them
at Ship Pond near her home in the
Manomet section of Plymouth.
Judge George A. White granted
Checchi-O’Brien’s request for a Feb.
5 trial at Wareham District Court,
which is closer to her home.
If convicted, she faces a maximum
sentence of 2‘/2 years in jail and a
fine of $500.
She said she planned to go back to
court March 13 to appeal a magis
trate’s dismissal last month of her
countercharges of assault with a
dangerous weapon.
“When this case was brought in,
everybody thought it was a big joke,”
she said. “But it was not a bigjoke to
me. I want to have a fair chance.”
Checchi-O’Brien said she con
fronted hunters Steven Tyler and
Michael Veloza last month after
hearing gunfire at the pond where
she has fed geese for the past 10
years.
“I was screaming and hollering
‘Get out of here,”’ she said. “When I
couldn’t get them to budge, I
thought, ‘My Cod, they’re going to
kill the geese right in front of my
eyes.’
“So I walked toward one hunter
and I heard this click and I said ‘Oh
you big hunter, are you going to kill
me?’ So I pushed him, I pushed his
gun away.”
Checchi-O’Brien claimed that the
men told her they were hunting near
her home to punish her for her anti
hunting activities.
“He was saying, ‘I’m going to
teach you a lesson, I’m going to kill
every goose on this pond,”’ she said.
But Veloza denied her claims.
“That is the most false statemenrl
have ever heard in my life,” he said.
“We had no knowledge of who this
individual was. I gave her my name
and address but she wouldn’t give
me hers.”
Veloza said he and Tyler were
hunting on Cape Cod Bay, a legal
hunting area, when they were at
tacked by the woman. He said Chec
chi-O’Brien was never threatened
with a gun.
“There was no pushing and shov
ing action,” he said. “It was more like
a beating and pounding on the
chest. It was legal to be there and to
pursue our sport, and Ms. O’Brien
came down and attacked us.”
During the hearing, Checchi-
O’Brien’s attorney, Jack Atwood,
was rushed to Jordan Hospital when
he suffered chest pains. Atwood was
admitted to the coronary care unit
where he was reported in fair condi
tion.
>nrech Inc. is sponsoring a defensive driving
razos Center, 3232 Briarcrest Dr. on Friday Jam
) pan, and Saturday January 19,8 a,m, to noon. Th
2d for a 10% liability insurance premium discount
> cash. Registration is at the door. Call 693-1322 for
Training Session Held
Brazos County Rape Crisis Center will hold its
lion January 21-26. Anyone interested in becoming
1 need to fill out m application and return it to the o
18* 1985. Call 779-7273 for further information.
All Night Fair Applications
MSC All Night Fair Committee has extended the
ent organization booth applications to Monday, Jr“
tions may be picked up in the Students Prograi
finance Center on the 2nd floor of the MSC. F
in call Mike at 260-7053 or Chandy at 845-1515.
TAMU After Hours Program wilt sponsor a Drivt
n January 18-19, 1985, This course may be w J
traffic violations dismissed and to receive a 19%
lie insurance. Registration is held 8 a.m.-5 p.
Friday in 216 MSC. Call 845-1515 for more ini
Ford, Inc.
presents
+f
AGGIF
ONEMA/
The other side of WWII
Sunday, Jan. 20
7:30 p.m., Theatre
$1 - 50 .JJL
THE
Tau Kappa Epsilon
Jan. 17 Thors. Jan. 24 Thurs. Jan. 26 Sat.
8:30 8:30 8:30
ALL RUSH PARTIES g
AT TKE HOUSE 1
For More
Info. 268-0462 ~
TKE
House
South College
Texas
4 miles
Parker
“Make it a large,
Medium charge”
All you have to do is say
“Make it a large, medium charge”
when you order, whether you
eat in or have it delivered.
No coupon necessary. Good thru Jan 31.
SPfC/Ai
ptuvray
Pi^a
-Hut,
I wrote...
"Moke it o Large,
Medium Charge.
On a piece of paper and
brought it to Pizza Hut®!
Name
Date
Address
Phone
Good through 1/31/85
‘Kut®
North Campus
260-9060
501 University Dr.
(Northgate)
South College Station
693-9393
1103 Anderson
(At Holleman)
Hours: 11-12 Sun.-Thurs., 11-1 Fri. &.Sat.