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.