Wednesday, April 13, 1988rrhe Battalion/Page 7 [problem Pregnancv?
semts.
«caiisf
Ward
lailed man:
confession
'as forced’
ODESSA (AP) — A man await-
g trial in Presidio County on
arges of marijuana possession
laims he was beaten by Mexican
jlice and forced to confess to
thug smuggling alter being ar-
:sted in a border town.
Andres Grado Orozco, 47, of
idessa claims police in the bor-
jertown of Ojinaga, Mexico, beat
him, tied his hands, covered his
|es and forced his head into a
tub of water to elicit a bogus con
fession from him.
I Orozco remains jailed in
Chihuahua after being arrested
m Ojinaga in March 2 on charges
ol drug smuggling.
Four other Odessa residents
were jailed along with Orozco on
arges of transporting 150 kilos
Of marijuana.
Commander Agustin Cabrera
astillo denied the allegations,
lying that Orozco confessed to
inga key player in a smuggling
|am that involved the transpor
tion of drugs from the south
western Mexican state of Michoa-
pi (o Odessa.
lln addition to Orozco, Jesus
Berm Garcia, Juan Antonio Cal
deron, Victoria Fierro Gonzales
and Linda Fierro Ibarra, all of
[dessa, and two Mexican citizens
re arrested after they got off a
s with several suitcases and put
ie suitcases in a pickup truck,
(lastillo told the Odessa Ameri-
■n.
■ Mexican authorities say Orozco
|ifas waiting for the pickup and
litcases to reach him in Ojinaga,
Biere he would smuggle the
arijuana into the United States.
[Orozco said he didn’t know the
jierOdessans until he met them
ijljail.
First RepublicBank CEO
leaves in FDIC shake-up
DALLAS (AP) — Financially ail
ing First RepublicBank Corp.’s
chairman resigned Tuesday as the
nation’s ISth-largest bank-holding
company projected it would lose
$1.5 billion in the First quarter.
That figure, nearly three times
what officials had predicted earlier,
would be the sixth-largest quarterly
loss in the country’s history. It comes
on the heels of a $1 billion emer
gency loan the Federal Deposit In
surance Corp. extended to the bank
March 18.
Gerald W. Fronterhouse’s resig
nation as chief executive officer and
chairman of the board was part of a
management shake-up arranged by
federal regulators overseeing recapi
talization of the company, officials
said. He is the second top official to
leave the firm in three weeks.
“It’s a very big loss, and obviously
it will require a recapitalization of
the bank,” said Comptroller of the
Currency Robert L. Clarke, whose
office last week completed a two-
month examination of First Repub
licBank.
After that scrutiny, “it was obvious
to me and to my colleagues at the
FDIC and the Federal Reserve
Board that management needed to
consider carefully the steps that
would have to be taken to get on
with the business of restructuring,”
Clarke said. “Certainly one of the
steps that had to be considered was a
change in the leadership of the com
pany.”
The board elected Albert V. Ca
sey, 68, former chairman of the
board of AMR Corp. and American
Airlines to replace Fronterhouse.
“1 made the decision to step aside
at this time because it is in the best
interests of this institution and the
community that I do so,” Fronter
house said.
Casey said Fronterhouse made a
“great personal sacrifice” bv re
signing and said his goal is “to return
to profitability and to provide the
state of Texas with a stronger and
much-needed banking institution.”
Casey said he W’ill spend the next
few weeks reviewing the existing
management team before making
further changes at the company.
“We must adopt a program to re
turn us to profitability,” Casey said.
“We must have a restructuring plan.
The emphasis is going to be on the
revenues.”
The company said it anticipates a
provision for loan losses and write
downs of foreclosed properties of
approximately $1.5 billion, largely
attributable to its real estate portfo
lio.
First RepublicBank built loan-loss
reserves in the first quarter primarily
in recognition of the continuing im
pact of declining appraisals of cur
rent real estate market values, offi
cials said.
But the FDIC’s assurance of full
protection of all depositors and
other general creditors of the com
pany’s affiliate banks has enabled
the banks to continue service wath-
out disruption, officials added.
On March 18, the FDIC made a
$1 billion six-month loan to First Re
publicBank Corp. to quiet deposi
tors’ fears and halt a run on deposits.
Only two days earlier, Fronterhouse
had announced the firm would seek
federal assistance “to provide a more
stable environment for our com
pany.”
Reeling from the effects of nearly
$4 billion in non-performing loans
in oil and real estate markets, the
bank reported a loss of $656 million
in 1987. Still, year-end assets at the
134-bank holding company re
mained at $33.2 billion.
Fronterhouse, 51, is a 26-year vet
eran of the banking firm, having
spent his entire career there. He suc
ceeded James D. Berry as chairman
of predessor RepublicBank Corp. in
July 1986.
Fie is the latest top management
official to leave the company since
last month. Three weeks ago,
Charles H. Pistor Jr., 57, chairman
of lead bank First RepublicBank
Dallas, announced he would leave in
mid-April, and Fronterhouse was to
assume his duties.
With Fronterhouse and Pistor
gone, only vice chairman Joseph R.
Musolino would remain of the trio
who rose to the center of the bank’s
top management in the early 1980s.
Fronterhouse led RepublicBank
when it acquired cross-town rival In-
terFirst Corp. in December 1986.
The deal was designed to create an
earnings machine through account
ing, adjustments and cost-cutting,
including the elimination of dupli
cate jobs— about 3,000jobs in all.
Still bank industry exjoerts said
Fronterhouse’s resignation was not
unexpected, since the FDIC must
face congressional scrutiny if it al
lows the holding company’s manage
ment to remain as part of a bailout
plan.
Part of FDIC’s deal with First Re
publicBank officials specified that its
most senior executives would resign
if asked to by the FDIC.
kid
sold?
ixplosives spark blaze, cause evacuatiqn
[0DLEY (AP) — Explosive charges being
Mufactured for oil drillers accidentally deto-
Ited Tuesday, sparking a blaze that destroyed
■production plant, injured two workers and
breed the evacuation of about 30 people, au
thorities said.
A series of explosions that began just after
midnight and the ensuing fire flattened the
)wen Oil Tools Inc. plant, which is about 25
miles southwest of Fort Worth.
, “j walked outside and seen kind of a mush
room doud, and 1 seen a lot of popping going on
. »there,” said Danny Shrader, who lived in the
two-square-mile area evacuated after the blasts.
“It looked like fireworks.”
Two of the dozen workers on duty at the plant
suffered minor injuries that required only brief
hospitalization, officials said.
Authorities said they ordered the evacuations
in the mostly rural area around the plant because
they believed 20- to 30,000 pounds of Class A ex
plosives were stored elsewhere in the plant area.
Fifemeh from Several surrhundin'g towns and
volunteers battled the blaze, but were pulled back
at times because of fears of possible additional
explosions.
Owen said a charge being manufactured for
use in oil-drilling operations detonated in an
equipment press, triggering other explosions
“and that started a fire, and f irejtist led to all the
other buildings.”
None of the plant’s 34 employees will be laid
off, he said. Instead, they will be involved in a
clean-up and rebuilding operation.
The evacuees were taken to the Godley Fire
Department,.where they waited for several hours
before-being allowed to return home.
The manufacturing pkiErt was located between.
Godley and Cresson, near the i intersection of
Texas 171 and U.S. 377.
Letters Read By:
Tom Berenger
i. lk'n Btuptyn
j, Kenneth panipbell
Richard Chaves
Josh Cntze
Willem Dafoe
Robert DeNirb .
Brian Dennehy
Kevin Dillon
Matt Dillon
Robert Downey; Jr.
Michael T Fox
Mark Harmon
John Heard
Fred Hirz
Harvey Keitel
Elizabeth McGovern
Judd Nelson
Sean Penn
Randy Qua id
Tim Quill
Eric Roberts
Ray Robertson
Howard Rollins, Jr.
John Savage
Raphael Tibarge
Martin Sheen
Tucker Smallwood
Roger Steffens
Jim Tracy
Kathleen Tumer
TicoWells
Robin Williams .
Music By:
The Band
Tim Buckley
Buffalo Springfield
Sam Cooke
Alice Cooper
Country Joe
& The Fish
Creetlence Clearwater
Revival
The Doors
The Drifters
Boh Dylan
The Four Seasons
Marvin Gaye
Jimi Hendrix
I.ove
MC5 '
F.lvis Presley
I he Rolling Stones
Sly & The Family Stone
Smokey Robinson
N The Miracles
Sonny & Cher
Bruce Springsteen
The Surfaris
Original Music By:
Todd Boekelfteide
' ■
Hear
The Music
Through
Their Ears.
1 See
The Pain
Through
Their Eyes.
■111
Live
The War
. * ^i
, < , ' J , \ b. V&‘
Vietnam Like It's Never Been Told Before.
.
• : f: ■
Home Box Office presents Dear America a co-production of The Couturie Company and The Vietnam Veterans Ensemble Theatre Company
Based on the book “Dear America: Letters Home from Vietnam r edited by Bernard Eddman for The New York Vietnam Veterans Memorial Commission
Screenplay by Richard Dewhurst & Bill Couturie Produced by Bill Couturie and Thomas Bird Directed by Bill Couturie
Brought to you courtesy of
j ASSei
’ The right choice.
FREE SCREENING
THURSDAY, APRIL 14
7:30 PM
©1988 HBO AH rtgbB resetved
RUDDER AUDITORIUM
sponsored by
MSC AGGIE CINEMA
TEXAS A&M/COLLEGE STATION
Tickets are required.
Tickets available at MSC Box Office night of show.
•We CLsteri, We care, We FieCp
•i'ree Pretpxancy Tests
•Concerned CounseCors
Brazos Valley
Crisis Pregnancy Sendee
We’re Local!
3620 E. 29th Street
(next to Medley’s Gifts)
24 fir. hotfine
823-CARE
The Battalion
Number One in Aggieland
SCHIJLMAN
2.50 ADMISSION
1. Any Show Before 3 PM
2. Tuesday - All Seats
3. Mon-Wed - Local Students With
Current ID'S
4. Thur - KORA ‘‘Over 30 Nite”
SCHULMAN6
2002 E. 29th 775-2463
*1 M3 MB A MIT pq
THEATRES
•DENOTES DOLBY STEREO
PLAZA 3
226 Southwest PWwy
BMflfnJGHTS, M HTT n
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H1 *i
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IMEIMMIr
$ DOLLAR DAYS $
B.I.A. r
MANOR EAST 3
Manor East MaH
FATAL ATTRACTHMr
SHE’S wm A BABY R
MASQUERADE r
THE FM AM THE RGMS a
18 Apis
AM) & DELIVER pa
Forest Clear-Cutting
Its Effects and Uses
Presented by TAMU Green Earth Society
Wednesday April 13, 1988 at 7:30 p.m.
Memorial Student Center Room 230
Lotus 1 -2-3
One-week classes
for students who want,
to learn this popular
spreadsheet program
Cost $35.00
Sterling C. Evans Library
Learning Resources Department
Room 604 845-2316
April 18-22
2-4 p.m.
Ace
Your
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