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/ol. 87 No. 41 USPS 045360 10 pages
College Station, Texas
Tuesday, October 27, 1987
45-u
Moon hit Drew Hi]
d Ernest GivinsosJ
r to set up Dum
wn catch of the
iack finished 15'
Is and three toucln
had completed
isses in the second^
iwn two intercept
-winner.
hit Givins with
wn pass, rushed
ded off to Mike 8a
touchdown run,
d a 24-yard fiel
ouston lead.
tock market
txperiences
urther losses
NEW YORK (AP) — The Dow
lones industrial average suffered its
" cond-largest point loss ever Mon-
ay, falling 157 points and wiping
ut most gains made after last week’s
[taggering 508-point plunge.
The selling followed a record loss
n the prime Hong Kong exchange,
ihich lost one-third of its value on
le first day of trading in a week,
bkyo, London and other foreign
arkets also had large losses.
Investors appeared to be un-
oved by deficit-reduction talks be-
|veen President Reagan and con-
essional leaders that were called
ter last week’s market panic.
“It’s a slow fade, sinking in the
Irnset,” said Dennis Jarrett, a tech-
Bical analyst for the investment firm
i ud the g.mu qf Kidder, Peabody 8c Co.
b\ Ruzek 4Si I Analysts said the market was still
>wboi
F.agles boosted the
a 10-yard touch
inninghamtoSjM
as set up when
Ruzek’s 49-yat(l
i closed to 13-I0b
>c hel Walker's 1-virs
unge.
mod. loneys
it the Eaglesahi
eagles took a 2!
■ fourth period ot
-vard field goal.
delphia made it$]
iass from Cui
la w ith 8:17 rent
after.
s scored its final t
ix-play, 51-yard (
t in the game, Wi
Is to Tony Dow
ding from the history-making
an shoots
rokers, self
fter losses
In market
:■ last touchdown!
. ed 86 yards on i
fitted from a hei
nee penalty that fs
■ MIAMI (AP) — An investor who
reportedly suffered heavy stock
Barket losses shot and killed one
fjroker and critically wounded an-
Bher in their brokerage house Mon
day, then turned his gun on himself,
lice and witnesses said.
The gunman, Arthur Kane, 53, of
[iami, was dead at the scene, Metro-
de Police Cmdr. William Johnson
/*\ A P d
F % # 1 KA Merrill Lynch spokesman said
' ■ ■ 1 He slain brokerage manager was
I |bse F. Argilagos, 51.
I wounded stockbroker was
H ■ Boyd Kolokoff, 39, of Miami. Both
McDonald were local v ce presidents of
brokerages.
■ Kolokoff was in serious condition
on Mondayat Baptist Hospital fol-
ing surgery to remove bullet
jfojagments, hospital spokesman
fAidrianne Silver said.
He had a gunshot wound to the
ck and suffered injury to a lung
d the spinal cord, she said.
Aaron Perry, a broker with Profile
Divestments, said friends at Merrill
Lynch told him Kane was a longtime
[Customer who had received a margin
1 because of last week’s decline.
People who buy stock on margin
»USe money borrowed from a broker-
lage to cover up to half the cost of se-
n Cain Pool. The!# 1 purities.
gif the value of a stock falls, a boke-
rage issues what is known as “a mar-
p call,” asking the client to put up
bre assets to cover the falling value
olthe stock.
KAKFAST EVEM
MORNING
)OOR$|
continues in the W
9-
session of theses
v. 9. The roll see# 1
or nonaffiliates. Tb‘
3 ARK
utumn. The parksi*
orings, plateau
lion will be held to'*
is backpacking
trip is $35 for ASM
ental of camping^
lenced guide. This’'
plunge Oct. 19, when the Dow in
dustrials fell a record 508 points. In
six days of seesaw trading, the Dow
has dropped about 450 points.
The value of all U.S. stocks Mon
day fell $203 billion to $2.23 trillion,
or 8.4 percent, a one-day evapora
tion of wealth exceeded only by the
$503 billion drop one week earlier.
The Dow average of 30 industrials
fell 158.83 points to 1,793.93.
“It was a panic and it’s still to some
degree continuing,” said Morton L.
Brown Jr., research director for Ed
ward D. Jones & Co., a St. Louis-
based brokerage company that
serves small investors in 38 states.
Trading volume on the New York
Stock Exchange continued at a
heavy pace. A total of 308.82 million
shares changed hands, which made
Monday the sixth busiest session on
record.
The New York and American
stock exchanges, the Chicago Board
Options Exchange, the Chicago
Mercantile Exchange, the Chicago
Board of Trade arid the Midwest
Stock Exchange announced they
would close two hours early
throughout the week, a policy begun
late last week to cope with the heavy
trading volume.
The market’s decline is proving a
blow for small companies that need
to raise money for expansion and
job creation, analysts said.
Nervous investors have been pull
ing their money out of small compa
nies and putting it into bigger ones,
which they apparently believe are
more stable in a time of trouble.
Some privately held companies
have already delayed plans to go
public because of the depressed
price their shares would be likely to
fetch, and small public companies
may be holding off on issues of extra
stock.
“Today seemed to be a partic
ularly devastating day for the over-
the-counter market, and the over-
the-counter market is where most
young companies start out their
lives,” said Harry Miller, portfolio
manager for Johnson, Lane, Space,
Smith & Co. in Atlanta.
The NASDAQ composite index
of over-the-counter stocks fell 9 per
cent, or 29.55 points to 298.90. Since.
Oct. 13, the day before the market’s
slide began, the OTC index has
fallen 31.3 percent, or a bit more
than the 28.5 percent decline by the
Dow industrials.
Economists have worried that the
destruction of wealth in the stock
market may cause consumers to re
trench, sending the economy into a
recession. The fears gained credibil
ity Monday when the Commerce De
partment reported consumer spend
ing fell a sharp 0.5 percent last
month, the first decline since Jan
uary, even before the market’s col
lapse.
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Horseplay
Mike Garrett, a senior animal science major and captain of the Texas
A&M men’s extramural polo team, scores a goal during a practice
Photo by Valentine Shabpareh
polo chukker Sunday afternoon. Last year, the men’s team placed
first in regionals and third in nationals.
Reagan moves to ban U.S. imports
from Iran, cites ‘bellicose behavior’
WASHINGTON (AP) — President Reagan
moved Monday to ban all U.S. imports from
Iran, citing “the continued and increasingly belli
cose behavior” of Ayatollah Ruhollah Khomeini’s
government in the Persian Gulf.
Reagan also said he was directing the depart
ments of State and Treasury to bring about a ban
See related story, page 8
on the export to Iran of 14 broad categories of
U.S. products “with potential military applica
tion.”
The punitive economic measures follow the
military retaliation Reagan ordered last week
against Iran after a Silkworm missile strike
against a U.S.-flagged Kuwaiti oil vessel in Ku
waiti waters.
“These measures will remain in place so long
as Iran persists in its aggressive disregard for the
most fundamental norms of international con
duct,” the president said in a statement.
Reagan had been weighing the moves for seve
ral days after a team of advisers in both the na
tional security and economic areas had recom
mended them.
Secretary of State George P. Shultz said, mean
while, he hoped other countries would follow the
U.S. lead and embargo Iranian oil, thereby caus
ing a drop in the price of Iranian oil and in reve
nue for the purchase of weapons.
Shultz acknowledged it would be difficult to
enforce the U.S. embargo, since the origin of oil
on world markets is hard to trace. But, he said,
“while Iran is conducting the war (with Iraq) and
conducting terrorism, we shouldn’t be buying
things from them to the tune we are. . . . We feel
it’s important to lay down our marker.”
In ordering the bans, Reagan was using au
thority granted him by Congress under a section
of the International Security and Cooperation
Development Act.
White House spokesman Roman Popadiuk
said oil imports from Iran last year were around
$500 million, and had reached about $900 mil
lion by the end of July 1987.
Non-petroleum imports from Iran in 1986
were valued at around $100 million, he said, and
he added, “We expect that number would have
declined by 25 percent in 1987, even with no
trade controls in place.”
According to the Energy Department’s
“Monthly Energy Review,” Iranian oil in 1986 ac
counted for 0.31 percent of U.S. oil imports. For
the first seven months of 1987, the percentage
was 1.4.
Total U.S. exports to Iran amounted to
roughly $34 million, said Popadiuk. “That num
ber is declining in 1987. Those U.S. exports cov
ered by the new controls amount to less than $ 10
million,” he said.
In announcing the moves, Reagan said he had
consulted with Congress in advance.
He said, “The measures I am directing are a
direct result of the Iranian government’s own ac
tions, including its unprovoked attacks on U.S.
forces and U.S. merchant vessels.”
The president said the ban on imports will
take effect “as soon as possible” and said the ad
ditional controls on exports “will go into effect in
a week to 10 days.”
! Survey: Enrollment up nearly 4% since last year
ORS Program,#'
30,000 more students attend Texas colleges
USTIN (AP) — Texas colleges
Hid universities have attracted
rly 30,000 more students this
r than last, state officials reported
H|)nday.
■The Texas Higher Education
|Goordinating Board released a sur
vey showing that enrollment at the
state’s 141 public and private institu
tions increased by almost 4 percent,
or 29,726 students, to a total of
[792,133.
■twenty-seven public universities
reported combined increases of
i|i026 students, while 10 others re
ported a combined loss of 1,594. To
tal enrollment at the 37 public insti
tutions was 368,775, a 2.6 percent
increase over 1986.
The coordinating board report
said Prairie View A&M University
had the largest percentage gain with
17.8 percent. Texas A&M reported
the largest numerical increase, with
2,460 new students.
Officials said the increase at Prai
rie View reversed a nearly decade-
long trend.
“It is noteworthy that Prairie View
A&M has reversed a nine-year trend
of declining enrollment and has suc
ceeded in boosting enrollment by al
most 18 percent while raising its ad
mission or performance standards,”
Kenneth H. Ashworth, state higher
education commissioner, said.
Enrollment also was up at 40 of
the 49 public junior college districts,
with a net increase of 6.5 percent, or
19,811 students. Those institutions
reported a combined enrollment of
321,896.
Among the state’s public commu
nity colleges, Collin County Commu
nity College reported the largest
percentage gain, at 29.7 percent,
while the Alamo Community Col
lege District saw the largest numeri
cal increase, with 3,322 more stu
dents.
Enrollment was up 1 percent, or
785 students, at the state’s private,
senior institutions, the coordinating
board reported. Twenty-two of
those campuses reported combined
increases of 2,208, while 16 schools
reported combined decreases of
1,423. Three independent junior
colleges reported a net increase of
31 students, or 2.6 percent.
The four campuses of the Texas
State Technical Institute reported a
4.1 percent enrollment drop, losing
376 students.
Enrollment in all programs at
public health-related schools showed
a net increase of 0.7 percent. Enroll
ment was down by 0.4 percent in
medical schools, 3.9 percent in den
tal schools, and 2.5 percent in veteri
nary medicine programs. But enroll
ment was up by 2.6 percent in
health-related academic programs.
Texas favors Bush, Jackson in preliminary poll
^JAP) — Many Texans don’t know how
they will vote in the presidential primaries,
but among those who have decided, Repub-
Vns favor Vice President George Bush and
Ij^Hnocrats favor the Rev. Jesse Jackson,
jWoHH Hnrding to a poll published Monday.
Hbne-fourtli oi Texas Democrats would
[Vote for Jackson, but 44 percent of those
.K) say they will vote in the Super Tuesday
gjaim ny are undecided on their choice, the
poll found.
A- U Meanwhile, the Republicans surveyed
4ver< 57 percent in favor of picking Bush in
on of the Kayak the March 8 primary,
iqn up now!
About 20 percent of Texas Republicans
responding to the poll say they don’t know
who they would pick. Several other candi
dates will announce decisions to run for the
presidential office after the Super Tuesday
primary, so most felt this was not detri
mental.
“He’s the 400-pound gorilla right now in
the Republican cage,” said Richard Murray,
a political scientist with the University of
Houston’s Center for Public Policy. Bush
calls Houston home and he also spent seve
ral years in Midland.
Murray directed the poll, sponsored by
the Houston Chronicle and the Dallas Morn
ing News. Results of the poll were published
in copyright stories in both newspapers
Monday.
Kansas Sen. Bob Dole is the choice of 11
percent of Texas Republicans, with former
television evangelist Pat Robertson favored
by 7 percent, the poll indicates.
Rep. Jack Kemp of New York would get 4
percent, and former U.S. Secretary of State
Alexander Haig and former Delaware Gov.
Pete du Pont each would get 1 percent.
None of the other Democratic candidates
— Democrats Rep. Richard Gephardt of
Missouri, Sens. Albert Gore Jr. of Tennessee
and Paul Simon of Illinois, Massachusetts
Gov. Paul Dukakis and former Arizona Gov.
Bruce Babbit — would get the votes of more
than 7 percent of the poll respondents’
votes.
The poll was based on Oct. 11-20 tele-
phone surveys of 1,017 registered Texas vot- -
ers and was conducted by Murray and Kent
L. Tedin, also of Houston’s Center for Pub
lic Policy.
Vandivers’
canine dies
suddenly
An autopsy was performed on
the dog of Texas A&M President
Frank E. Vandiver Monday to de
termine the cause of its death.
Knox, a 10-year-old male shel-
tie, was found dead Sunday
morning after appearing to be in
normal health Saturday night,
Renee Vandiver, the president’s
wife, said.
The autopsy was performed by
the A&M staff at the A&M Small
Animal Clinic.
The examiners indicated that
Knox died from a kidney infec
tion.
“He was a happy dog,” Mrs.
Vandiver said. “He showed no
symptoms of being sick.”
It was rumored on campus
Monday that Knox had been a
victim of foul play, but Mrs. Van
diver said an autopsy is a normal
E rocedure when a seemingly
ealthy animal suddenly dies.
She added that she was con
cerned that Knox may have been
poisoned, but the fear of poison
ing wasn’t the primary reason for
the autopsy.
Mrs. .Vandiver said she is
looking for a new dog to be a
companion for Scarlett, the Van
diver’s remaining dog.