The Battalion. (College Station, Tex.) 1893-current, July 07, 1987, Image 6

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Page 6/The Battalion/Tuesday, July 7, 1987
World and Nation
—
Lawyers: Meese made
$40,000 in 1-day trades
WASHINGTON (AP) — Attor
ney General Edwin Meese III made
nearly $40,000 in profits from some
two dozen speculative one-day stock
trades in just 19 months, but none of
Meese’s money was funneled into
scandal-plagued Wedtech Corp., the
attorney general’s lawyers said Mon
day.
Meese’s money was invested in a
variety of large and small companies
in 23 trades beginning in July 1985
and in each instance, his investment
manager bought and sold the stock
on the same day, according to a
notebook of information compiled
by the attorney general’s personal
lawyers.
The roughly $39,500 in profits
came on an investment by Meese of
about $54,500. He profited on 18 of
the one-day transactions and lost
money on the other five.
Meese has been under fire from
Congress since last April to disclose
where his investment manager chan
neled his money. T he attorney gen
eral currently is under criminal in
vestigation by independent counsel
James McKay, who is trying to deter
mine whether Meese’s investment
manager, W. Franklyn Chinn, fun
neled any of the attorney general’s
money to Wedtech. Meese has ac
knowledged interceding on the com
pany’s behalf when he was White
House counselor in 1982.
Sen. Carl Levin, D-Mich, said,
“This response is better late than
never, but it raises as many questions
as it provides answers.” Levin is
chairman of the Senate subcommit
tee on oversight of government
management, which will hold a hear
ing Thursday on financial disclosure
by Meese.
In their report, Meese’s attorneys
said that the attorney general’s in
vestment with Chinn “was inadver
tently omitted” from a list of assets
he filed with Justice Department of
ficials in May 1985. The existence of
Meese’s Chinn partnership wasn’t
disclosed until more than a year
later. Meese’s lawyers said that the
list which omitted the Chinn part
nership was prepared by “Justice
Department staff.” That prompted
Levin to question why Meese hadn’t
read the list before signing it.
Meese profited the most from a
one-day trade in British Airways —
Dl. £
$12,57 1 —on Feb. 11 of this year.
He made some $14,000 in
from 1 1 one-day trades in 1985 am
got $13,000 in profits from 11 out
day trades in 1986. The only trade
1987 was the stock in British Ait
ways.
The remainder of the
Meese’s money was earning son
$6,000 in interest in money mark i
and brokerage accounts at theBt;
Stearns brokerage and at the Impt
rial Trust Co.
Chinn, who is the subject offt:
eral and state criminal investigatio:
into the Wedtech scandal, wasacc
sultant and member of Wedtedi }
board of directors from 1985 urn
he was forced to resign in Februan
Chinn’s fee for the Meese tr» 1
actions amounted to $5,20u at
came out of the attorney generai
profits. Chinn is expected to takea- j i
other $2,500 or so in fees fori!
year’s British Airways transaction,
Meese said that under the tent
of the arrangement, he didn'tkna
where Chinn was investing
money and didn’t know that 6
was engaging in one-day trading,
Korean students
fight with police
after friend dies
SEOUL, South Korea (AP) — Stu
dents enraged by a comrade’s death
battled police with wooden poles and
rocks Monday. Political leaders ap
pealed for calm to save talks on dem
ocratic reform and preserve the deli
cate political truce.
The government freed 177 politi
cal prisoners in Seoul and eight
other cities as part of pledges last
week that ended 18 straight days of
violent protest against the govern
ment of President Chun Doo-hwan.
Hundreds of cheering and sobbing
relatives and supporters greeted
them at prison gates.
At Yonsei University in Seoul,
hundreds of students fought riot po
lice after fellow student Lee Han-yul
died of injuries received in a street
battle with officers a month ago.
“Let’s learn from Lee Han-yul’s
spirit!” students shouted. “Down
with the military dictatorship!” Po
lice fired hundreds of tear gas gre
nades as the fighting continued for
hours.
At the prisons, exulting crowds
chanted “Long live democracy!” as
they hoisted those freed onto their
shoulders and carried them away.
Political leaders on both sides ex
pressed regret about the 21-year-old
Lee’s death, but said talks on revis
ing the constitution to permit direct
presidential elections and other re
forms must continue.
Chun agreed to the reforms July 1
after nationwide protests by an op
position alliance began June 10.
They developed into the worst polit
ical violence since Chun, a former
g eneral, took power with military
acking following the assassination
of President Park Chung-hee in
1979.
Representatives of both political
camps expressed concern that anger
over Lee’s death could cause a new
round of protests and destroy the
truce that resulted from Chun’s ca
pitulation to his opponents’ de
mands.
Kim Young-sam, head of the
main opposition Reunification Dem
ocratic Party, said: “Lee’s noble
death reminds all of us of the signifi
cance of the task of realizing demo
cratization. However, the process of
democratization should not be im
peded because of the death.”
Chun’s Democratic Justice Party
also urged moderation in a
statement that said: “Our basic posi
tion is that unfortunate incidents
like Lee’s death must be wisely over
come, with ill effects minimized.”
Prison escapee
recaptured
near racetracl
SANTA FE, N.M. (AP) —Au
thorities recaptured a prisons
capee near a racetrack less that
two miles from the penitentian
Monday, and hundreds of of
cers under shoot-to-kill orden
hunted six other inmates whore
mained free.
Hector B. Torres Jr. wasajrl
prehended without incidem
about 10:30 a.m. near Tk
Downs at Santa Fe after beinji
spotted by two security guard!
authorities said.
Torres was returned to ik
Penitentiary of New Mexico,
from which he escaped Saturdai
night with two convicted killen
and four other inmates, official'-
said.
“He’d been hiding in the loci?
area since the escape,” state p
Capt. John Denko said,
doesn’t admit to being with
other inmates that escaped."
Torres said he had hidden ii|
pinon trees since the escape and
that searchers once had cow
close to him, Denko said. Torre]
was serving a 21-year sentenci
for kidnapping, armed robben
and aggravated battery.
The Downs is almost I ^ mile]
west of the prison, which is
east of Santa Fe.
Former Chernobyl high officials
facing charges for negligence ^
KIEV, U.S.S.R. (AP) — Three officials charged with
triggering history’s worst nuclear accident by their neg
ligence go on trial Tuesday in the town of Chernobyl,
within the evacuated danger zone around the power
plant where they worked.
Chernobyl’s former director, chief engineer and
deputy chief engineer are accused of failing to adequa
00801102tely prepare and supervise experiments tliat
caused a massive explosion and fire in a 1,000-mega
watt reactor on April 26, 1986.
Radioactivity poured from the wrecked No. 4 unit
following the blast. Thirty-one people died and more
than 200 other Soviets suffered acute radiation sickness
from a cloud of radioactivity that ultimately circled the
world.
The former head of Chernobyl, Viktor P. Bryukha
nov, ex-chief engineer Nikolai M. Fomin and his assis
tant, Anatoly S. Dyatlov, have been jailed for a year
while the causes of the disaster were investigated.
Officials in the Ukraine have said the three face up to
12 years in prison if found guilty of criminal negligence
charges.
A limited number of foreign reporters have been in
vited to the trial, which is clearly linked to Soviet leader
Mikiiail 8. oorbachev s campaign to bold aii oiticials
publicly accountable for their actions.
Since coining to power in March 1985, GorbacW
has made sweeping changes in both governmentafll
Communist Party ranks and has repeatedly warned
reaucrats at all levels that they will answer for blundtl
or acts of irresponsibility. , Lated
The decision to hold the trial in the evacuatedto»C () '
of Chernobyl seemed intended to lend maxinn4 ace
drama to the proceedings. |; | D'tt'
Only a few dozen officials who ad m i n is ter daily ofL, c „ '
ations at the lour-reactor power station and oversee^
contamination work live at Chernobyl, a verdant to*®
of wooden and brick cottages 11 miles south of a. •
Chernobyl plant. . Lon
I he trial also may throw more light on the action' Q ver
Chernobyl’s top managers following the accident
worst in the history of nuclear power. [lw
Details on industrial accidents in the Soviet Un: tjjy, < | j l
used to be considered tantamount to state secrets, aniW-j^ ( |
complete account of the actions of top officials folHarListi
mg 1
ie reactor explosion has not been made public, )j e sa j ( j
However, 67 Communist Party members were landfill
pelled or received stern reprimands for failing to det “q[ le
onstrate leadership and responsibility during the lnt>( |
hours of the crisis. pThe
ncil
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