Page lOAThe Battalion/Wednesday, October 22, 1986
Marines
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Class of ’77
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Clothing
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all other clothing
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Professional Sales & Service’
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110 College Main
Northgate
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N
C a f\| C E R
FREE ADMISSION THE GROVE • THURS. OCT 23 ■ FREE REFRESHMENTS
8 : 00pm
CAMPUS CRUSADE TOR CHRIST
f jffioUNTING Will Host:
ISOCIETY
THE OFFICE VISIT MEETING”
October 22
7:00 p.m.
701 Rudder
Guests: TOUCHE ROSS & CO.
and TENNECO
Reception Following
Applications now available
MSC Hospitality presents
The 1987
Miss Texas A&M University
Scholarship Pageant
• • 1
applications in 216 MSC
applications clue Friday Oct. 31
requirements TAMU Student
screenings Nov. 8 & 9
a preliminary of
The 1987 Miss Texas
Scholarship Pageant
Battalion
Classified
845-2611
Stocks mixed
as traders
await figures
Warped
by Scott McCulcj
NEW YORK (AP) — Stock prices
were mixed Tuesday, as many trad
ers moved to the sidelines to await
Wednesday’s release of a key indica
tor of the nation’s economic pro
gress and the results of the OPEC
meeting in Geneva.
The Dow Jones average of 30 in
dustrials slipped 5.34 points to close
at 1805.68, as volume on the New
York Stock Exchange totaled 110
million shares. Advancers outpaced
decliners by 784 to 715, while 487
were unchanged.
Analysts said traders were preoc
cupied by the government’s pending
report on the third-quarter growth
of the gross national product.
Many economists anticipate that
the figure will reflect an expansion
of about 2.5 percent.
Analysts said a higher figure
would make higher near-term inter
est rates likely, which would put
downward pressure on stocks.
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Waldo
In Geneva,the Organization of
Petroleum Exporting Countries
reached a new accord limiting pro
duction to strengthen oil prices.
WASHINGTON (AP) — When
the cheering stopped and the 99th
Congress became history, football
fans at Louisiana State University
and the University of Texas found
themselves doing high-fives over a
special tax break.
But their tax advantage, involving
full deductions for gifts to their uni
versities’ athletic scholarship pro
grams, is likely to be as brief as a
first-quarter lead in a closely fought
game.
Competing schools are crying
“foul,” the two universities are tell
ing their fans to forget it and con
gressional sponsors are ready to
drop it.
All of a sudden, it’s the tax break
that nobody loves.
It is one of hundreds of special-in
terest provisions in the landmark tax
overhaul bill that President Reagan
will sign into law today, and it’s a
textbook example of the unscientific
way that federal tax laws are written.
There are other examples.
Sen. Charles Grassley, R-Iowa,
worked diligently to win a special tax
provision worth $8.5 million to ben
efit a home-state company, Ruan
Transportation Management Sys
tems Inc.
The Senate approved it as part of
the tax bill. House-Senate negotia
tors knocked it out. But Grassley
prevailed. The provision will be-
Athletic tax break for UT, LSU
predicted to be temporary
come law, although not as part of the
tax bill. It was tacked onto a budget
balancing measure.
Sen. William Armstrong, R-Colo.,
originally won an amendment allow
ing a handful of investors in a New
Mexico coal operation to keep pref
erential treatment of capital gains,
although the tax bill ends that break
for all other Americans.
Negotiators killed the $2 million
provision, but it still will become law-
today. A typist erroneously left the
benefit in tne 879-page hill, and a
companion measure correcting that
and hundreds of other mistakes in
the legislation was lost in the shuffle
when Congress adjourned Saturday
night.
That’s also why the special benefit
for contributors to athletics at LSU
and UT remains in the bill.
In 1984, the Internal Revenue
Service issued a ruling which,
though totally logical to tax authori
ties, was as welcome to football fans
as a moocher at a tailgate party in
the stadium parking lot.
The IRS held that a fan who
makes a contribution to an athletic
scholarship program and, in return,
is given the privilege of buying pref
erential seating for home football
games, may deduct only a portion of
the gift.
T he IRS reasoned that the priv
ilege of buying seats on the 50-yard
line is worth something. So, the rul
ing goes, if you give $500 and the
privilege of buying prime seats is
worth >200, you may lake a tax de
duction for only $300.
Colleges and their fans demanded
a hearing before the IRS. Bills were
introduced in the Senate and House.
But the IRS stood fast.
Two influential tax-writers. Sen.
Russell B. Long, D-La., and Rep. J.J.
Pickle, I)-Texas, were among those
who tried to overturn the ruling.
Sen. Bob Pack wood, R-Ore., and
Rep. Dan Rostenkowski, D-Ill., man
agers of the tax bill, made clear they
would not let that happen, but they
threw a bone to Long and Pickle.
HUNTSVILLE (AP)-l
ronmentalists chained then
to trees and a giant
T uesday to protest the 111
est Service’s plan to titan
burn areas damaged b)
tseetles. At least three prt
were arrested.
More than a dozen mtmlz!'’
Earth First, armed withapud
some chains convergedon pa-
Sam Houston National ta
where a 52-ton tree<nisht:>:
mowing down trees.
"We want to stop the dos
lion of forests," Pat Ellis la
said after she and her hnsffl
Chuck chained themsehtsti
tree. "This is public land
As a result, the final version of the
tax bill retains the IRS ruling — ex
cept for those who contribute to
LSU or UT. If they give $500 and
get a sealing privilege worth $200,
they still may deduct the f ull $500.
Some of Pickle’s constituents re
minded him that their football taste
runs more to Texas A&M or to
Southern Methodist University than
to UT. “He tried to drop it out as a
result of some of the complaints,"
Pickle spokesman John Havens said.
“He’s introduced a bill to get it for
everybody.”
Earth First membersmtrt
testing the Forest Senictsi
sion to cut down trees whet
beetles have struck and!M
them with a substancesomI
likened to napalm. Hit.
healthy trees and wildliftart
ing sacrificed in theproctsi.
Group spokeswoman Br:
Dugleby said, "There’sstill:
tact forest there. Thev sbo
maintain a diverse foresi:
i Olio
wound,
an utioi
7-11 sic
earK W
won’t invite more pint te
back."
College
John Kennes
Pavt been ,u
Representative denounces housing in action
ravated ;
WASHINGTON (AP) — U.S. Rep Henry B.
Gonzalez lashed out at the Reagan administra
tion and the Republican-controlled Senate on
Tuesday for failing to pass comprehensive hous
ing legislation during the 99th Congress.
“Problems in this or any other country cannot
be solved by inaction,” said Gonzalez, D-San An
tonio, who chaired the House subcommittee on
housing. As chairman he guided a bill to House
passage that would have provided for increased
nousing grants, only to see it die in the Senate.
“My counterpart in the Senate promised in
December 1985 to act on housing legislation if
the House would back off its efforts to negotiate
a compromise bill,” Gonzalez said in a statement.
“We backed off; the Senate did nothing.”
Gonzalez called the Senate’s inaction on hous
ing an arrogant disregard for the nation’s “clear
and growing crisis in housing,” and asserted the
inaction was rooted in racism and political ma
neuvering.
In San Antonio, a serious low income over
crowding problem is being compounded by a
shortage of rental housing for low income fami
lies, Gonzalez said. At least 10,000 households
are waiting for affordable housing, he said.
tempted capi
|: Coleman (
Itole, said i
Wednesday i
■nginasks cai
The Reagan administration helpd I He said oi
about the looming housingcrisisbymtitJ'im while tw
ing construction funds to help fund attcii m e "ther 7-
defense buildup and carry on a covenw vaiJ l |
caragua, Gonzalez said. M| ne (, l di
"They could get SI00 million tor!:t ' vau l | with
(anti-Sandinistas) fighting in Nicarapu,*! 0 ^ 1 startei
couldn't get $60 million forthepoorratM st< ?K‘, he said
try," Gonzalez said. ^■omu i s.i
Housing programs have shrunkby6::(j inonev <)Ul <
since 1981, and for fiscal 1987 the was I
located to provide housing assistancei!^WS ome1 'wml
p<i< cut less than last year’s level, Gon/aWfe" ^ l,n 111 1 '-■ |
P.the susj),’(
^Bhe custo
Undercover ‘bum’ helps draw out alleged arson ring
^ CU P of coffee
FORT WORTH (AP) —“Dirty
Mike” said he didn’t like wearing a
dress, so he switched to a scraggly
beard and looked like a bum.
The result was the arrest of six
teen-agers in an alleged arson ring
that had terrorized a neighborhood
here for a year and a half.
“Dirty Mike” was arson investiga
tor Lt. Mike Price, who went under
cover to try to figure out who was
setting fire to houses, cars and trees.
Price said Tuesday he dressed as a
woman and as an old man during a
two-week undercover operation that
brought about the arrests of three
17-year-old adults and three juve
niles. He said he wore the dress for
20 minutes one night and the old-
man disguise for several hours on
two subsequent nights.
“I thought somebody I had con
fided in in the neighborhood had
squealed on me,” said Price, 32. He
said he wore the disguises to see if
the arson ring knew he was in the
neighborhood. “It turned out they
didn’t,” he said.
He said the arrests were made in
late September and early October.
Two 14-year-olds and a 15-year-old
are in the custody of their parents
and are charged with delinquency-
arson, Price said.
The 17-year-olds are in the Tar-
anything to 1
rant County jail on aroii'Thad ihe'tnm <
Their bond has been setaiill; yj e s . ( ’j ( | ()
the investigator said. "Ttitri1ii ec j t | ie cus
been a suspicious fire sin«-[leave, so he
Price said. and took hit
in a walk -in c
Price borrowed a long»J; At about
white dress from his wifelLloistomer cat
nally had belonged to his# jnersaid. The
Because Price didn’t lilt'’feng on, we
the dress, that disguise s plice, Conn<
long.
JB|e said th
rived
Pre-Game Party
Meet Senator Phil Gramm
Congressman Joe Barton
State Representative Richard Smith
Sponsored by Aggies for Barton
Sat. Oct. 25 301 Rudder
12-1:30 pm Admission $1. 00
Tickets available at the door or call 764-1986
Haled takin
from door at
; “Hr had n
said, “and o
6king cigare
Ipolice car p
!?■ Most x )\
Wednesday
pat' must 1
4,he 260 nu
Workers \vli<
Jlynon-dipi,
Soviet en
ricans
placed on tli
Anuri
ate[in Lenii
that a choice
Door Prize: Hot Air Balloon Ride
pd. political advertising by the Cong.
a cook or a d
| The Soy it
ployees in fc
Barto^ embassy anc