The Battalion. (College Station, Tex.) 1893-current, December 07, 1988, Image 12

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LOCAL SETUP AND DELIVERY.
AT SYSTEM...
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• 20 MEG HARD DRIVE
XT TURBO SYSTEM
$
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360 K FLOPPY DRIVE
150 WATT POWER SUPPLY
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BEAT THE
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846-7333
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STORE WIDE
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Off our sticker price on all
* COMPACT DISCS in stock!
Wednesday
December 7 th
thru
Wednesday
December 14th
ONLY!!!
ELTON JOHN
REG STRIKES BACK
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AND MAD HATTERST (PART TWO)
This sale includes 1,000’s
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OPEN Mon-Sat
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’ "Rehlnd Skaggs £• McDonald.”
846-1741
Page 12
The Battalion
Wednesday, December 7,1988
Texa
Study: Higher oil prices
to slow economic growl]
DALLAS (AP) — A soon-to-be
published study by two Federal Re
serve Bank economists predicts in
creasing worldwide demand for oil
will push OPEC countries to full ca
pacity and prices over $30 a barrel
during the 1990s.
Yet after adjusting for inflation,
those higher prices of the next de
cade will still amount to only 60 to 80
percent of the peak price of oil es
tablished in 1981, according to an
advance copy of the study by econo
mists Stephen Brown and Keith
Phillips of the Federal Reserve Bank
of Dallas.
The economists predicted that the
1990s will be a decade of slower eco
nomic growth in the United States
because of higher oil prices.
“It won’t be as bad as the ’70s
where we saw sharp price increases
that really nailed the economy,”
Brown said. “But people planning
on building big cars in the next de
cade may be headed in the wrong di
rection.”
Brown and Phillips contend that
falling demand for oil in the 1980s
has had more to do with the collapse
in oil prices than the disarray in the
Organization of Petroleum Export
ing Countries.
The economists forecast a strong
growth in the demand for oil in the
next decade.
“Under nearly all of our scenar
ios, the growth in oil consumption
pushes OPEC close to full capacity
between late 1992 and early 1995,”
said the study, which will be pub
lished in January. “As OPEC nears
full capacity, prices are likely to rise
sharply.”
By 1992, oil prices should begin
rising. And by the year 2000, oil
prices will reach $35 to $40 — or
more than double the current level,
they said.
The study assumes no major dis
ruptions in oil production or artifi
cial pushes, such as a resumption of
the Iran-Iraq war or a sharp tax in
crease on oil.
“Rising oil prices will streni
economic growth in energy-exm
ing countries while hindering j
nomic growth in energy-i
countries like the United States,
study said.
Brown said, “1 really don’tti
we’ll see a return to theboomt:
of 1981 in the oil industry,
should see some increases as earls
’92, barring OPEC action,;
nitely by ’95. By 1995, the price,I
have to be in the neighborhooi|
$25 because of the demand.”
And as in the past, the effectsJ
cut unevenly through thiscotintrl
Energy-producing regions.
Texas and Louisiana, will njod
and energy-consuming regions;
the Northeast and heavy in
areas, will suffer.
Currently, production of oil
ceeds worldwide demand,
gering the fall in prices toatatl]
a barrel.
Court sentences sister-in-lav
of Pakistan Premier Bhutto
BEAT THE
HELL OUTTA *
FINALS *
GRASSE, France (AP) — A crimi
nal court Monday sentenced the sis
ter-in-law of Pakistan Premier Bena
zir Bhutto to two years in prison
after convicting her in connection
with her husband’s death.
Rehana Bhutto is living in the
United States and did not appear at
her own trial to face charges of
“non-assistance to a person in dan
ger.”
The charges stem from the poi
soning death of her husband, Shah
Nawaz Bhutto, in July 1985 at the
couple’s apartment in Cannes on the
Riviera.
At the time, nearly the whole
Bhutto family were living in exile on
the French Mediterranean coast, in
cluding the widow of former Prime
Minister Ali Bhutto who was over
thrown and hanged in 1977, his two
sons, Shah Nawaz and Murtaza and
their wives.
body in the room next to hers I
hours af ter the poisoning.
Shah Narwaz, who was a leader of
the Pakistani opposition, apparently
died of poison from a vial he carried
for use if he was caught by his ene
mies, testimony revealed.
In her initial interrogation,!
told investigators she heard herb
hand moaning in his rooml)iit|i
no attention because she'
with him.
She was jailed for nearlv:
months while police investigate
case.
Rehana Bhutto discovered his
Then, because the charges
minor, she was released so shek
be with her child in the UrrJ
States.
Records show
suspect also
beneficiary
LAKE CHARLES, La. (AP) — A
Lake Charles man suspected of kill
ing his wife is the main beneficiary
of $310,000 in life insurance, but a
federal court will decide who actu
ally gets the money.
Court records show Dallas-based
The Life Insurance Co. of the
Southwest paid $310,000 on two life
insurance claims on Monday.
Robert W. Fisher was named the
main beneficiary of the policies on
Tamara Fisher’s life.
The money was paid to U.S. Dis
trict Court in Lake Charles.
The money will remain there until
the court determines who is entitled
to the money, according to the court
order signed Monday.
Fisher is to be tried early next year
for the August 1987 shooting of his
wife.
He had surrendered to police, but
he later jumped bail and left the
state.
He was caught in California after
a story about his wife’s death aired
on the television program “Ameri
ca’s Most Wanted.”
The insurance company asked to
pay the claims into the court regis
try, and U.S. District Judge Edwin
Hunter ordered the clerk of court to
accept the money and hold it until
the case is settled.
The insurer filed a lawsuit against
Fisher and James E. Cook, the provi
sional administrator of Mrs. Fisher’s
estate.
Cook is listed in court documents
as the father of Mrs. Fisher’s two
children from a previous marriage.
Communist China
sends interns to U.S,
to learn about NYSE
NEW YORK (AP) — Soviet
leader Mikhail Gorbachev plans
to cruise past the New York Stock
Exchange in a motorcade, but his
Chinese Communist rivals got the
jump on him.
A trio from the People’s Re
public of China has been training
in the heart of high-stakes capital
ism for two months.
The interns from the People’s
Bank of China are guests of the
nation’s largest stock exchange,
sent as part of a cooperation pact
signed two years ago enabling the
Chinese to study how a sophisti
cated securities market works.
The Peking government began
tolerating limited stock and bond
trading in 1985 after a 35-year
ban of what was considered im
moral speculation that benefited
the rich. The official position now
is that buying and selling securi
ties play a useful role in the coun
try’s modernization.
“We’re only in the very begin
ning,” said Zhang Zhiping, 32, a
senior official in the People’s
Bank’s financial control depart
ment, the rough equivalent of the
Securities and Exchange Com
mission because it regulates
where and what type of securities
can be sold.
“We have to develop trading
firms and brokers, skilled profes
sionals,” Zhang said. “We have to
educate the people on what is a
stock. We have to develop compa
nies that issue securities. We hai(|
to change all the systems.
“In China, if you want tot
something, it takes a lone time I
You can’t build Rome in a day. 1
Zhang and his two colleague' I
Duan Jining, 28, and Han jiauj
jun, 33, spoke highly of theire\ I
perience in the heart of the Wall
Street jungle, where just in tit I
past few months they have *[
nessed some of the biggest cor
porate takeover brawls inhiston
the anniversary of the
Monday crash and the noriwll
barrage of market gossip thattn |
tiers thrive on.
“We don’t have such takeovei|
business in China,” said Han,,
executive in the People's Bai
branch on southern Hainan 1
land, a special zone for forei|
trade and investment. “Thegoij
ernment tells one company tobinl
another company. Bankersdonil
play much of a role.”
Although primitive over-tit'I
counter markets for trading cot |
pany-issued securities have!
sanctioned in about 70 Chii«|
cities, there is no structure!
few laws over how they operaif |
the three bankers said.
Nevertheless, China is mutil
more advanced in securities trail'f
ing than the Soviet Union, til
other Communist superpower]
where talk of establishing:
and bond markets is still in itsitij
fancy.
Ahyundzm
286C
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00
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-640KB RAM
-12” Monochrome Monitor
-Hercules Compatible Graphics
-One Serial, one parallel
-1.2 Meg Floppy Drive
-101 Keyboard
-Small Footprint
-MS DOS 3.3/GW Basic
-18 Month warranty
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Sale ends December 31, 1988
819 S. Texas Ave., College Station
We
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