The Battalion. (College Station, Tex.) 1893-current, October 27, 1987, Image 1
vith 4,825 no-skJ below a normal cj idome and 4,0' ce for the hoi V Texas A&M m m «• The Battalion he Ra the i ims ire the strike a’s Billy "Whitti set up Luckhiij ■Id goal with a n against his fori /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. jlL : 'fit ■ i ■ | 13 7 I I g **r < ■*#*#■* ' iMfiiitB < y ; ; - I :,.; 4 :, 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.