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Thursday, October 22, 1987
Stock market
regains half
of record loss
ks are temponn
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itary readiness,
tins could lose
their budgets fee
iegan Oct.
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'93.
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/y trad
ORK (AP)-
ied I uesdav,
Monday’s ten
the rest of the
I to flounder in
;ht session of
me.
ow Jones a
topping its prt
it gain of75.23
NEW YORK (AP) — Investors
flocked back to the world’s stock
markets Wednesday, shaking off a
trillion-dollar panic and sending in
dexes to record gains in New York,
London and Tokyo.
The Dow Jones industrial aver
age, climbing halfway back from
Monday’s historic 508-point col
lapse, rose 186.84 points to 2,027.85.
The index had risen a record 102.27
points Tuesday.
The partial recovery in New York
Tuesday contributed to record gains
Wednesday in indexes on the Tokyo
and London stock exchanges. The
improved attitude carried over into
trading in the United States.
Analysts speculated that investors
may have been pleased by world
leaders’ responses to the market’s
panic, which erased more than $500
billion from the value of U.S. stocks
and more than $1 trillion from
world stocks in 24 hours.
The Dow industrials’ plunge
Monday wiped out 22.6 percent of
the index’s value — a bigger one-day
decline than during the 1929 crash.
West Germany took a small step
this week to hold down its interest
rates, and President Reagan and
leaders of Congress recommitted
themselves to whittling away the fed
eral budget deficit.
Reagan said Wednesday he has
not eased his opposition to higher
tax rates.
Nevertheless, economists said
there was no major news event to ac
count for either the plunge or the
partial recovery.
Trading volume was 449.35 mil
lion shares, higher than any day ex
cept Monday and Tuesday, when
the volume passed 600 million
shares.
The value of all U.S. stocks, which
fell $503 billion Monday, gained $60
billion Tuesday and another $183
billion Wednesday, according to the
Wilshire Associates 5,000 Equity In
dex of stocks traded on the New
York and American exchanges and
over the counter.
Market spirits were boosted by the
Eederal Reserve’s commitment to in
ject money into the financial system
to avoid any crises and by the com
mitments of nearly 100 corporations
to repurchase their own stock
an renews threat as ships pass ruined platforms
A senior Iranian diplomat said the
response to Monday s attack on the
oil platforms would not necessarily
be limited to the Persian Gulf re
gion, where Iran and iiaq have been
at war since September 1980.
“Iran has several plans under con
sideration and will soon act to make
the United States pay for its actions,”
Ali Ahani, the Loreign Ministry’s di
rector for political affairs, told re
porters in Bonn. West Germany.
“The United States will regret this
action.’
Ali Akbar Velayati, the Iranian
foreign minister, sent a letter to the
United Nations claiming the U.S. at
tack violated the Security Council’s
unanimous cease-fire resolution of
July 20 and demanded a council
protest.
The convoy is expected to com
plete the 550-mile trip out of the
gulf Thursday.
It is the 12th in the three months
since U.S. warships began escorting
Kuwaiti-owned tankers, registered
in the United States and flying
American flags, to protect them
from Iranian attack. The convoys
have logged more than 7,000 miles.
Iran began regular attacks last
year on ships owned by or serving
Kuwait. The Iranians accuse Kuwait
of receiving arms shipments for its
neighbor Iraq and otherwise aiding
Iran’s enemy.
says number of near misses increased 50 percent in 9 months
•It the Dmv wii rcnit
i >i
le.
‘-port 8
uinped nearly
months of
iation Adn
), however, to
lented jOS-po:
s session, or tht
t drop it tool
late August
(■sigoiTi7TT77
l oader markeis'ffcn
i robust. Decliniiiil
rered advances
the New York!
t he number of
ig commercial
percent: daring
year, according
ration figures.
i^ag .sement Wednesday,
aviation saieiy experts on
ot i lie increase on air
I he chairman of the National Transpoi
tat ion Saf ety Board said the sharp rise in
near collisions shows that travelers were ex
posed to an “increased risk” of~an aerial col
lision during the past summer, but the head
of the FAA called the statistical jump not
in itself /ei y meaningful.”
According to the FAA, the agency re
ceived 857 near-collision reports from pi
lots during the first nine months of the
year, a 37 percent increase over last year
The numbei of such reports involving
planes carrying revenue-paying passengers
increased even more sharply, from 258 last
year to 383 this year, up 48 percent.
During the busy summer months — June
through August — there were 159 near-col-
lision reports involving at least one com
mercial plane, an increase of 50 percent
over the summer of 1986. The sharpest in
crease — 69 percent — came in August
when there were nearly two such incidents
reported a day, according to the FAA fig-
Jim Burnett, chairman of the NI SB,
said, “If you look at near midair collisions,
they continued throughout the summer at
very high levels. Somehow we’re going to
have to get a handle on that.”
But FAA Administrator Allan McArtor
said that while the increase during the nine-
month period, compared to the same
months in 1986, is a matter of concern to
his agency, he does not consider the figures
in themselves “very meaningful” because
actual collisions continue to be extremely
•asured by Wilskin
id ex of more tit
he market gained
i value TuestM
e than $500 bill
sts said there w'l
ne of investor
were easing,
est rates fell slffl|
markets, with'
t in Treasury b
learly
ven colleges show increase
number of students enrolled
By Susan C. Akin
Reporter
I hi targe enrollnii ti increase at
AefcM, the downturn in Texas
tfultry and fluctuations in research
Tpnwn at MKlH 11 !? a11 tu ' lve P la ved a part in the
»ro[lment figures, foi better or
each of A&M’s 1 1 col-
. said, "We ,
ehension i-ii->ki rse l<M
all the selling.
ies.
Of the. seven colleges that show
^Bim-m increases .iiF year, the
Hege of Liberal Arts had the larg-
i«A/!twii h i i 71 ik ('. -a orients, reflect
s | IVM percent nu . ease and has
\Ts tastest growing college
juft nce 989 said l)i v Hai les Stoup
jf |A| Qftoioi arademic business adminis
^ ^ for liberal arts.
gHtr enrollment went up 18 2
e leaving Banyfc e)!t 1,1 1986 and 29.6 percent in
18-year-old salts'* 7 ’ Strap said “And our fresh-
■m'Paradise,d*£ ,ass . <:a,v«t r pc ent this
h every father |«;® :
uld sit with his c, . „ . .
. , , at(Hip 1 1 editN tbr K'eai iih rease to
nutes. fheyre r , ' p . . ,•
. i nationwide trend toward tiadi-
wan is Ko inal liberal arts disciplines.
... . f'Qtln a schools have increasing
•ite bickering» ™ ar , s ams (00 he sai( f
roomies, thelnj 1 eop le <( 1 1 .artmg to , eaib.e it’s OK
d about 4,000 | o P 1:i A&M t H
,al Pfeic event
-ars. L.S. oik tried ()Ul so sma |j *
remain in\iet» But the libeiai aitsiollegc isii t the
Toon said M ly one with bountilul enrollment
icatton, hadbtf ns.
*ther in the pot The College of Education’s enroll
- 0 Chi MinhCif mtrose 1 l 8 percern this yeai, gtv
Saigon whenii gthe college the itiotid place spot
South VietnaWyJernn ot enrollment increases,
f ell in April iW jDi |l)e,ii Corrigan, dean of ihe
T life's been 'liege oi Fcnuaiion said reaching
hard,’ Hunlt ]becprning ,, ,nor< : igni/abit
■eanuts on tin tifesBion, taising the popularity ot
Tier if she was; 1 : college and the number of stu-
and she never ntst?v376.
as there toviC j‘Th|ngs die happening in educa-
Bhe’s never plT n to improve the conditions of the
•herchildren,' Corrigan said. “People are in-
Student percentages in A&.M colleges
6.55
3.82
1 1 .45
13.1 1
9.15
23.89
ffl Agriculture
E3 Architecture
E3 Business
E3 Education
[Z3 Engineering
18.10 G e ne ra 1 St udi es
S Geosciences
§3 Liberal Arts
■ Medicine
E3 Science
□ Veterinary Med.
libeiai aits. It’s a
Yev VI because we
rerested in quality teaching so sala
ries are better now. Without good
teachers we have almost nothing
else.
“Quality begets quality. Every time
we raise our standards we get more
students who want to enroll in our
programs. Currently we produce
more teachers than any other school
in Texas.
Another college having an abun
dant student enrollment, up by 659
students this year, is the College of
Business Administration with a 10.3
percent increase
Dr. Samuel Gillespie, assistant
dean in the business administration
college, said his concerns grow as the
enrollment in his college increases.
“fiisr we’re concerned with being
able to accommodate all those new
students,” Gillespie said. “Then
we’re concerned with the business
college’s 3,000 student limit, which is
currently at 2.868.”
Gillespie explained that the busi-
Graphic by Susan C. Akin
ness administration college does not
allow more than 3,000 students into
its majors or upper division courses.
Students who meet the University
entrance requirements enter the col
lege with a business administration
classification, he said. When stu
dents complete the college’s require
ments they are allowed to apply to
upper division, he said.
“With all the freshmen who have
entered the business college this
year, it may not be possible to accom
modate them all into the upper divi
sion when they get there,” Gillespie
said. “We’re happy with the student
turnout, but I’m sure the students
aren’t.”
The Gollege of Science is also try
ing to attract the best students to
their programs and has succeeded in
gaining 234 new students this year.
Dr. Carlton Maxson, associate
dean in the College of Science, said
the college’s 10.1 percent increase in
student enrollment can be attributed
to its excellent programs, to $16.9
million in research funding and to
new f acilities.
“Our biology, chemistry, math
and physics departments have all ex
perienced great growth in the past
few years,” Maxson said. “Physics
has increased 65 percent since 1984.
A lot of the growth is an increase in
graduate student numbers. Grad
uate students supplement the re
search programs we have.
“We also have state-of-the-art un
dergraduate facilities. Students are
working on the frontier of their re
search, so they want to come to a
university where they get that type
of environment. Our new chemistry
building and 2-year-old physics
building house modern equipment
so students can get hands-on experi
ence in their field.”
One of the places more students
are going to find out about pro
grams like the sciences is the College
of General Studies, which had an en
rollment increase of 5.8 percent, or
154 new students, this year.
“Our enrollment increase reflects
the general increase across campus,”
said Scott Shafer, academic coun
selor for the general studies college.
“We encourage students to enroll in
general studies, help them make a
choice and encourage them to leave.
“We are primarily a counseling
service to help students explore dif
ferent academic areasi- Students’
main opportunity here is being in a
place where they will feel no pres
sure from any one college and to
have the choice to look at different
areas of study ’
Another area of study that has
seen a small increase of 3.2 percent,
or 46 new students, is the College of
Veterinary Medicine.
See Enrollment, page 10
Firefighters say they
have 'no confidence'
in Bryan chiefs ability
By Richard Williams
Reporter
All firefighters under the com
mand of Bryan Fire Chief Claude
Jenkins III have signed a peti
tion, presented to Bryan city offi
cials Monday, stating the fire
fighters “have lost total and
complete confidence in Chief
Jenkins’ ability to be an effective
administrator and Fire Chief.”
The petition, addressed to City
Manager Ernest Clark and Direc
tor of Personnel Services Georgia
Langston, futher states the peti
tion “will serve as a vote of no
confidence in regards to Fire
Chief Claude Jenkins III.”
At a press conference Wednes
day night Nick Pappas and C.
Warren Fowler, spokesmen for
the Bryan firefighters, said the
firefighters want to let the city of
ficials handle the situation.
“This is a very serious issue and
the city of Bryan is taking it very
seriously,” Fowler said. “We were
assured by Mr. Clark there will be
a complete and thorough investi
gation of all allegiations.”
Clark was out of town Wednes
day and could not be reached for
comment, and Marvin Norwood,
the deputy city manager issued a
“no comment” statement.
Jenkins could- not be reached
for comment on the petition.
The firefighters are not put
ting any pressure on the city to
give them an answer, Pappas said.
“It is very important that the city
handle it, and we do have the
trust in the city to handle it prop
erly,” he said.
The petition states the signers
feel “the attitude and actions of
the fire chief have jeopardized
not only our safety, but more im
portantly, the lives and property
of the citizens of Bryan.”
Pappas said the firefighters
would continue to work and that
it would be “business as normal.”
He said the petition would have
no effect on the firefighters’ abil
ity to do their jobs.
The firefighters say in the peti
tion that the “fire chief has de
stroyed our respect and confi
dence in a number of ways.”
Among the ways listed are: a
lack of “departmentalwide com
prehensive and viable training
program ... in the areas of fire
suppression, safety inspections
and emergency medical services;”
that “he has been unresponsive to
suggestions for improvement that
have been submitted in good
faith;” that he has been “inconsis
tent in his treatment of employ
ees in regards to disciplinary mat
ters” and that “he has acted in a
manner wholly inconsistent with
our prime objective of public
safety.”
The firefighters are writing up
a list of exact events for the city,
and the individuals involved will
be available to sit down with a
grievence committee to discuss
the events, Pappas said.
The petition states that “re
gardless of the direction of
change that would be placed
upon him by his supervisors, we
feel that no amount of time or
other disciplinary action could re
verse the amount of damage this
man has caused.”
When asked what action the
firefighters wanted to take place
Fowler said, “I believe that is
pointed out pretty clearly in the
grievance letter itself.”