state/nation/world Stocks fall in Far East, Europe By MARIANN CAPRINO AP Business Writer Stock prices plunged yesterday in Far East trading, triggering a wave of stock-dumping that swept across Europe and helped drive the Dow Jones to its second-largest point loss. In Hong Kong, the key Hang Seng index dropped a record 1,120.70 points to 2,241.69, erasing one third of the market's value as trading resumed after a four-day suspension. The Tokyo exchange's 225-share Nikkei average closed down 1,096.22 points, to 22,202.56, its third largest one-day drop. The downward trend was firmly established by the time trading began later in London. The Investor kills By DAN SEWELL Associated Press Writer A Merrill Lynch spokesman said the slain brokerage manager was Jose F. Argilagos, 51. The wounded MIAMI —An investor who report- stockbroker was Lloyd Kolokoff, 39, edly suffered heavy stock market of Miami. Both men were local vice losses shot and killed one broker and presidents. critically wounded another in their Kolokoff was in critical condition at brokerage yesterday, then turned his Baptist Hospital following surgery to gun on himself, police and witnesses remove bullet fragments, said hospi said. tal spokeswoman Adrianne Silver. He The gunman, Arthur Kane, 53, of had a gunshot wound to the back and Miami, was dead at the scene, said suffered injury to a lung and the Metro-Dade Police Cmdr. William spinal cord, she said. Johnson. Johnson said it's possible there "We believe it was, in fact, related were no other witnesses to the shoot to losses suffered in the market during at the Merrill Lynch office near ing the recent downturn." The Falls shopping center. Casey calls for funds for Pa. waste cleanup By RICK WOODWARD Collegian Staff Writer Hazardous waste that has littered Pennsylvania for perhaps a hundred years will be cleaned with funds made available by the General As sembly if legislation called for by the governor is passed. Legislation creating a state Super fund to accelerate cleanup of toxic waste is under consideration by the State House Conservation Commit tee, said John Caltagirone, deputy director of media relations for the state Department of Environmental Resources. The creation of the Superfund was announced by Gov. Robert P. Casey last month. Under the proposed legislation, the state DER will be able to conduct programs related to the cleanup and provide mechanisms to fund the pro grams, said state DER spokesperson Susan Woods. Woods said the Superfund program would accelerate cleanup of sites eligible for federal Superfund money and facilitate the cleanup of those sites that are ineligible. The money will come from the state General Fund and from a tax on all state industry, Woods said. Before laws were made requiring safe disposal of toxic waste, produc ers disposed of toxic waste careles sly, and the state is now being forced to clean it to prevent health hazards. The state is considering providing Superfund money to four sites in the State College area. "Unfortunately, we are paying the price now for the mismanagement of the past," Woods said, adding that some of the sites being assessed date back to the 1800 s, when the properties of hazardous wastes were not under stood. Casey has ordered the state DER to finish studies of 2,000 inactive waste sites to determine whether they should be cleaned under the Super fund program. The studies should be completed by the end of the year. Gunmen kill Salvadoran leader of human rights By MARCOS ALEMAN Associated Press Writer SAN SALVADOR, El Salvador Two men firing handguns with silenc ers killed the president of the Salva doran Human Rights Commission as he left home yesterday to drive two of his six children to school, official sources said. As the children stood some distance away, the assailants shot Herbert Ernesto Anaya point-blank in a small parking lot, a police source said. There was no immediate claim of responsibility. A spokesman for the human rights commission blamed the killing on rightist death squads linked to the military. A government spokesman called the murder "an irrational act" and appealed for calm. A leftist rebel group said it could endanger further talks with the government under the Central American peace plan. Anaya's father, Rafael Lopez, told reporters his son was being watched Financial Times-Stock Exchange 100-share index, which had been off as much as 157 points, finished down 111.1 points at 1,684.1. While institutional selling was fairly subdued worldwide, analysts attributed the wave of losses to margin calls. If customers are unable to in crease their deposits on margin accounts, they can be forced to liquidate their securities. Margin accounts allow investors to buy stocks with borrowed funds. using stockholdings as col lateral. European traders, whose dealings are sand wiched between the end of trading in Asia and the start of activity in New York, awaited Wall Street's opening with trepidation, and with good reason. The Dow Jones blue-chip barometer 1, then himself State officials are optimistic that this deadline will be met because the studies of the sites have been accele rated under the Casey administra tion, Woods said. House Conservation Committee Executive Director Rob Rybarczyk says he expects heavy bipartisan support for the bill, but said he does not expect special interest pressure against the bill from businesses that would be affected. "Everybody's responsible for cleaning up the environment," he said. "Business accepts that respon sibility." A tax of one half mil on business' state Capital Stock and Franchise Tax was approved as part of the state budget this summer, said Suzanne Yenchko, director of natural re sources for the Pennsylvania Cham ber of Business and Industry. The tax was supported by business as a fair way of having all state business pay into the Superfund, she said. The sites being studied in the State College area include: Beck's dump site in Bellefonte; the Bellefonte land fill, RD3 Bellefonte; the Centre Re gion Landfill, Circleville Road; and Corning Glassworks, Dale Summit, Woods said. The studies of these sites have not been completed, said Dan Spadoni, community relations coordinator for the DER's Williamsport Region. Spadoni said he could not release any information about what kinds of waste have been found and what sites would be recommended for the Su perfund until the studies are com pleted. Currently, 60 Pennsylvania sites receive federal Superfund money, and 22 are awaiting a decision on whether they will also receive federal money, she said. One of the sites in the State College area receiving federal money is Spring Creek, which was contami nated with the hazardous chemical kepone in the mid-19705. by men the father did not identity, and had received several anonymous death threats because of his work with the commission. "He had had a premonition, and when we talked about it, he told me, 'Look, father, they are going to kill me. They are going to kill me. But that's OK, let them do it, — Lopez said. The 32-year-old president was the fourth member of the commission slain 1980, and two other members disappeared while in police custody. It is an independent private organiza tion made up of lawyers and other professionals. For security reasons. the commis sion keeps the number of its members and their identities a secret except for the spokesmen, president and a few other leaders. The assailants fired on Anaya out side his home in the Zacamil district of the capital as he prepared to enter his car, said military sources, who spoke on condition of anonymity. "I think they went into an office to put up more assets to cover the fall talk and I think everyone who was in ing value of the stock. there was shot," he said. If the call is not met, the brokerage Aaron Perry, a broker with Profile can sell the stock to cover the debt. Investments. said friends at Merrill Argilagos had worked with Merrill Lynch told him Kane was a longtime Lynch since 1961, coming to Miami customer who had received a margin from Puerto Rico in 1977. Kolokoff call because of last week's decline. was hired in Miami in 1975, the com " From what I've heard, the guy pany said. was overextended. We're talking Marie Ros, 28, a former junior huge losses:" said Perry. broker at the office, remembered People who buy stock on margin Kane well. use money borrowed from a broker- "He was a nice man. He would age to cover up to half the cost of come in nearly every day," said Ros. securities. If the value of a stock falls, "He knew the market. He liked to a bokerage issues what is known as trade. You know, people get hooked "a margin call, - asking the client to on it." Occupation Indian soldiers man a post at the clock tower in the center of Jaffna, Sri Lanka. Indian officers said that after an assault that began Oct. 10, Indian forces had captured almost the entire city except for pockets of resistance from Tamil rebels. Herbert Ernesto Anaya Anaya died almost instantly be tween 6:30 a.m. and 7 a.m., said the police source, also speaking on condi tion he not be identified. The commis•ion, founded in 1977, has been highly critical of human rights violations in the government's 8-year-old civil war against leftist guerrillas. Rightists within the mili tary have often accused it of harbor ing leftist synpathies. plunged 100 points within the first hour of trading, finishing the day down 156.83 points. The London market staged a late rally on news that underwriters of the British Petroleum Co. PLC share offering were seeking a meeting with Treasury officials to discuss the issue, fueling speculation that the offer might be canceled. The government had planned to sell 2.1 billion BP shares to the public, but there is increasing concern that the troubled market may not be able to absorb the volume. Sir Nicholas Goodison, chairman of the London Stock Exchange, blamed the recent collapse in overall share prices on U.S. budget and trade deficits. in Miami Farm chemicals may be limited, researchers say By LEE SIEGEL AP Science Writer LAKE ARROWHEAD. Calif. Chemical companies must quickly develop non-toxic methods combat crop pests and diseases because fu ture use of farm pesticides will be sharply limited by voters' desire to clean up the environment, research ers predict. "Agriculture cannot expect to de pend on chemicals for crop protection as it has in the past, - said James Seiber, an environmental toxicology professor at the University of Califor nia at Davis. AP Lasiorphoto Seiber, who once worked for Dow Chemical. said the farm industry has - covered itself in a chemical blan ket" for too long and must get to work on alternatives. Seiber spoke as nearly 120 scien tists, regulatory agency representa tives, chemical industry officials, environmentalists and legislative staff members opened a three-day AP Laserphoto London stock market dealers appear gloomy as another day on the floor approaches. Shares fell again yesterday when the London market opened after the weekend break. symposium entitled "Reducing the Use and Persistence of Agricultural Chemicals Through Biotechnology." The conference, which started Sun day and ends today, is intended to increase communication among groups which often clash over the use of pesticides and herbicides, said meeting organizer Brian Federici. a professor of insect science at the University of California at Riverside. "The worst thing we could do is to ignore the signals and wake up five or 10 years down the road with chemi cals outlawed" and alternatives still not ready, Seiber said. In California alone, 80 million to 100 million pounds of agricultural insecti cides and herbicides will be used this year. Federici said. Seiber said the move away from farm chemicals is an inevitable re sult of pesticide contamination of the environment. the accumulation of toxic waste and the pollution of groundwater by farm runoff. The Daily Collegian Tuesday, Oct. 27, 1987 13 named as potential candidates for court role By LARRY MARGASAK Associate, ress Writer WASHINGTON, D.C. White House chief of staff Howard H. Baker yesterday presented Republican sen ators names of 13 potential Supreme Court candidates, in a fast-track ef fort that could produce a new nomi nee this week. Sen. Orrin G. Hatch, R-Utah, one of five senators at the meeting, confirm ed that Baker's list began with 13 and said that nine remained strong candi dates at the end of the closed meet ing. He said there were varying objections to the other four. The senator said it was an "impor tant message" that the administra tion was consulting with senators in the wake of the defeat Friday of Robert H. Bork's Supreme Court nomination by a 58-42 vote. Hatch's conciliatory tone was a contrast to his comments last week, when he accused Senate Judiciary Committee Democrats of serious dis tortions in their written committee rerport on Bork's nomination. Baker will take his list today to Senate Judiciary Committee Chair man Joseph R. Biden Jr., D-Del., and Majority Leader Robert C. Byrd, D- W.Va. A Democratic source, speak ing on condition he not be named, said the majority party would have prob lems with some of the names report edly on the list. Baker said before he began the meeting, "The president will take into account a variety of views and ideas." Hatch said: "There were 13 poten tial nominees and we worked on each one of those names. There were some objections to a few. The list was narrowed to nine. Three to five names will be submitted to the presi dent." AP Laserphoto The list includes women, but Hatch said no blacks were among the names discussed. There could be additions to the list and senators added some, he said. Also attending the session were Republican Leader Bob Dole of Kan sas, James A. McClure of Idaho and GOP Whip Alan K. Simpson of Wyom ing, and Strom Thurmond of South Carolina, ranking Republican on the Judiciary Committee. Three of those reportedly on the list were considered by Senate Demo cratic sources as candidates they could support. barring any new infor mation. They are Judge Anthony M. Kennedy of Sacramento, Calif., who is on the 9th U.S. Circuit Court of Appeals: Ralph K. Winter Jr. of New Haven, Conn., on the 2nd U.S. Circuit Court of Appeals: and Roger J. Miner 11. of Albany. N.Y.. who is on the same court. More controversial names on the list. according to Senate sources, would be: Judge Pasco M. Bowman 11, of Kansas City, on the Bth U.S. Cir cuit Court of Appeals; Judge J. Clif ford Wallace of San Diego, on the 9th Circuit; and Laurence H. Silberman, who serves with Bork on the U.S Court of Appeals for the District of Columbia. One source said at least one senator proposed adding the name of Judge Gerald B. Tjoflat of Jacksonville, Fla.
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