Stocks jump
back; gain
52 points
By JOYCE M. ROSENBERG
AP Business Writer
NEW YORK Stock prices rose
$37 billion on Wall Street yesterday as
earlier gains in Asian and European
markets encouraged investors to
shift some money back into the jittery
stock market.
The Dow Jones industrial average,
which on Monday lost nearly 157
points in its second-worst point de
cline ever, reversed course and rose
52.56 points to 1,846.49. Nine stocks
rose for every eight that fell in price.
In early trading Wednesday, prices
moved higher on the Tokyo Stock
Exchange for the second consecutive
session.
Euphoria from higher prices yes
terday in Tokyo and Hong Kong had
sparked a quick rally in New York,
sending the Dow average soaring
nearly 90 points in early trading.
But traders chipped away at the
advance as the day wore on, selling
stocks that had made gains during
the morning. The Dow slipped to a
gain of about 29 points shortly after
noon before regaining ground later.
Meanwhile, federal officials yester
day said a distraught investor who
shot two stockbrokers and then killed
himself in Miami on Monday was a
disbarred lawyer relocated through
the federal witness protection pro
gram.
And New York Mayor Mayor Ed
ward I. Koch announced a 90-day city
hiring freeze, saying the city needs
time to assess the economic effects of
the stock market decline. The freeze
will defer the hiring of 5,200 people,
including 2,000 police officers, Koch
said.
The rush of money out of stocks and
into bonds slowed yesterday, with
some money heading back into equi
ties, breaking a trend that had helped
depress stock prices since the dev
astating 508-point drop in the Dow on
Oct. 19.
Another factor pushing the Dow
higher was an announcement by In
ternational Business Machines that it
would spend an additional $1 billion to
buy back its own stock. IBM, one of
the 30 companies in the Dow average,
rose $6.50 a share to $118.50.
The market paid scant attention to
news from Washington that orders to
factories for "big ticket" durable
goods rose 1.1 percent in September,
the first increase since June.
Please see related story, page 10
Soviet official plans U.S. summit, arms pact
By BARRY SCHWEID
AP Diplomatic Writer
WASHINGTON, D.C. In a surprise move,
Soviet Foreign Minister Eduard A. Shevardnadze
will fly here later this week to discuss prospects
for a superpower summit meeting and a treaty to
ban intermediate-range nuclear missiles, a U.S.
official and congressional sources said Tuesday.
Continuing the roller-coaster ride of superpower
diplomacy, Shevardnadze also is expected to
deliver a message to President Reagan from
Kremlin leader Mikhail S. Gorbachev, said the
official, who demanded anonymity.
Emerging from an hour-long briefing for House
members, Secretary of State George P. Shultz said
there would be a formal announcement
Wednesday, and declined to comment specifically
on it.
But he added, "It's clear enough from all our
contacts that an agreement on intermediate-range
missiles is very close to being completed, and we
the
daily
Student leader enters Borough Council race
By LISA NURNBERGER
Collegian Staff Writer
With less than a week until borough council
elections, several student leaders said yester
day they are supporting North Halls President
Patrick Paul as a write-in candidate to achieve
student representation on the State College
Borough Council.
In an interview, Undergraduate Student Gov
ernment President Todd Sloan said he will
serve as Paul's campaign manager. Paul's
candidacy is expectected to be announced at a
press conference this afternoon, Sloan said.
Paul is a senior majoring in political science.
He served as an Associated Residence Hall
Students representative for three months and
is now serving his second term as North Halls
president.
Four seats are open on the council. Six people
four Republicans and two Democrats
have officially declared their candidacies for
the four-year term.
Sloan said Paul, who expects to graduate in
January, has applied for graduate school at the
University and plans to stay here for four years
if elected.
Paul's candidacy comes after months of
work by USG Senate President Joe Scoboria to
promote a student candidate.
The effort was kept from the press under
Scoboria's instruction. Scoboria said earlier
this semester he feared State College residents
would rally in opposition to a student candi
date, student leaders said.
have made advances in a number of other areas."
He said the remaining task amounts to "trying
to button these things up," and added, think
perhaps things are on a reasonably good track
now."
President Reagan, returning Tuesday night to
the White House. was asked by reporters if the
summit process was now back on track.
"There will be some statement about that. I'm
just back here to catch up now," Reagan said.
A White House ilimouncement was expected at 9
a.m. EST, sources said.
Only last Friday, preparations for a fall summit
meeting in Washington collapsed in Moscow when
Gorbachev notified Shultz he was not ready to fix a
date.
The Soviet leader had asked whether the summit
could produce an agreement governing space
based defenses against ballistic missiles and
Shultz said he could not guarantee it, Shultz told
reporters afterward.
There matters stood until Shevardnadze
Collegian
Thomas Gilhool
Since April, when leaders of USG, ARHS and
the Organization of Town Independent Students
decided to run a student, Interfraternity Coun
cil President Eric Graves, USG Legal Affairs
Co-director Jane Sheldon and USG Senator
Sheri Rutolo have all begun and ended cam
paigns.
Rutolo, the last undeclared candidate, said
all three candidates backed out because they
did not agree with the secretive way in which
the campaign was being run.
USG undertook a massive student voter
registration drive this fall to register more
students. When registering people, USG rep
resentatives informed them they would run a
student for council.
Rutolo said the candidates talked to student
organizations about their campaigns.
Sloan said he did not agree with the way the
campaigns were being conducted; but said he
followed Scoboria's strategy because Scoboria
has more seniority than he in student govern
ment and is highly respected.
Last weekend, Paul asked Rutolo if she
would be offended if he assumed her place as a
student candidate. When Rutolo said she would
not, Sloan said Paul approached him with the
idea.
Sloan agreed to the plan because he did not
want to disappoint students after encouraging
them to register under the assumption that
students would be running for a position.
"The chances of it working are not very high,
but we want borugh council to know that
students are concerned," Sloan said. "If one
Gilhool: goal attainable
By TERRY MUTCHLER
Collegian Staff Writer
Secretary of Education Thomas K. Gilhool said
Yesterday he believes Penn State will surpass its goals
for minority recruitment and retention by its 1987-88
academic year deadline but would not comment on any
plans the state and the University have to meet the
challenge.
"The president of the University (Bryce Jordan) and
I have been in good and close conversation and I have
every confidence that this university is going to meet
goals and indeed exceed them," Gilhool said.
The University has failed to meet its enrollment
goals for black Pennsylvania freshmen for the past
four years. This year it fell 259 short of its goal of 572
students.
"I'm not ready yet; we're not ready yet," he said of
releasing a plan of action to discuss minority
recruitment and retention. "Our conversations are not
yet to a conclusive degree to speak with particularity,
but I hope sometime soon we will be."
Jordan was in Harrisburg and could not be reached
for comment last night.
Penn State, the University of Pittsburgh and 13 other
state-owned schools have been under pressure to boost
their black enrollment figures after a 1983 federal
summoned U.S. Ambassador Jack P. Matlock to
the foreign ministry in Moscow and requested the
new round of talks with Shultz, the official said.
Matlock notified Washington and returned to the
ministry with U.S. approval, this source said.
Reagan, who accompanied his wife to Phoenix,
Ariz. on Tuesday following the death of Mrs.
Reagan's mother, was asked by reporters earlier
if Shevardnadze would visit Washington this week
and said, can't comment." Asked whether there
would be a summit, he said, "I don't know."
Congressional sources said Shevardnadze will
arrive Thursday. Shultz went to Capitol Hill,
meanwhile, to brief Senate and House leaders on
the emerging treaty.
'Thvo senators at a private briefings by Shultz
sal t they could not discuss the precise nature of
Wednesday's announcement. But one, Sen.
Claiborne Pell, D-R.1., chairman of the Senate
Foreign Relations Committee, said of Shultz: "He
feels there will be a summit."
major (student) issue is addressed by borough
council, we've been successful."
Paul said if elected he will be an advocate for
student issues.
Paul said it is important that students' input
is heard about issues such as the open con
tainer ordinance, noice ordinance and Phi Psi
500 race, but he could suggest no specific
changes.
"Students' concerns have to be addressed,
they don't necessarily have to be changed,"
Paul said. "But my responsibility is to bring
these issues back downtown and onto campus
to see how students feel about them."
Since the start of this semester, Paul has
been embroiled in controversy first after ap
pointing himself USG senator in place of a
North Halls senator who resigned. After seve
ral weeks, Paul appointed a student to take his
place as senator.
Paul also said North Halls residents are tired
of the controversy surrounding former North
Halls coordinator Andrew Winters battle with
the administration over what Winters claims is
his unfair firing because he is gay and outspo
ken on minority issues.
He has been a vocal supporter of ARHS's
showing pornography on campus, causing con
flict with USG's Department of Women's Con
cerns.
He also has opposed the conversion of North
Halls' Beam Hall into an office building.
In September, Paul said he was displeased
with USG's involvement in area residence
halls.
Council votes to extend
grad degree time limits
By MEENEKSHI BOSE
Collegian Staff Writer
The University Graduate Council
voted unanimously last week to ex
tend the time limits for completing
masters and doctorate degree pro
grams, but individual programs still
have the option of setting shorter
limits.
Students in a masters degree pro
gram now have eight years, including
nine consecutive summers, to com
plete their programs.
Doctoral candidates must now
complete their programs in eight
years, after being accepted for candi
dacy. Students have six years after
passing their comprehensive exami
nation to complete their remaining
work before having to take another
comprehensive exam.
Charles Hosler, vice president for
research and dean of the graduate
school, described the new time limits
as "a reasonable adjustment to chan
ging circumstances in the population
at large."
Students who require extra time to
complete their graduate program
must make the request to Hosier.
Hosier said, "More and more peo
ple (today) are in jobs somewhere,
then they come back to study, then
they go back to their jobs . . . we have
so many part-time students, it takes
them longer to finish their degree."
Joseph French, chairman of the
Committee on Academic Standards
in the council, said "Because (Hosi
er) was given so many requests for
extension of time, he brought the
issue to our attention."
weather
This afternoon and tonight, partly cloudy and brisk, high 46, low 29.
Thursday, mostly sunny and continued chilly, high 46 Miss Dickman
Wednesday, Oct. 28, 1987
Vol. 88, No. 76 18 pages University Park, Pa. 16802
Published by students of The Pennsylvania State University
1987 Collegian Inc.
mandate ordered the desegregation of the higher
education system by the end of next year.
In August, Gilhool sent a letter to Region 3 of the
state's Office of Civil Rights, chastising all schools that
did not meet their targeted goals, which are based on
the number of Pennsylvania's black high school
graduates.
"With few exceptions, institutional performance has
been abysmal in meeting these goals across the
board," he wrote in the letter. "There are no excuses
for this performance."
Along with the letter, Gilhool had sent a progress
report on the state's fourth-year efforts of the five-year
plan integrate the University. The report stated:
• The percentage of black students who stay in
college remains below the percentage of white
students.
• No black members have been added to Penn
State's Board of Trustees or to the Board of Governors
of the State System of Higher Education.
However, according to the University's Office of
Public Information earlier in the year, although Penn
State has zi.ot reached its goal, it is proud of the strides
made to date.
Between fall 1983 and fall 1986 the University has
increased the number of black students attending the
University from 1,635 to 2,365.
USG Senate keeps
endorsement
Scoboria said that for Paul, "or any student
candidate to win, it's going to be a complete
uphill battle.
Rutolo said she wanted to announce her
candidacy many weeks ago, but followed Sco
boria's advice to keep the campaign quiet. She
said she announced to the Senate last Tuesday
she was not running because she felt it was too
late to announce her campaign.
"I didn't like the idea of coming out of the
dark. I have an internship with the Centre
Region Planning Commission that I didn't want
to jeopardize," Rutolo said. "It would've
looked like I was lurking around down there to
further myself . . .to get ahead."
Scoboria said Graves and Sheldon dropped
out of the race because their plans changed and
they did not want to make a four year commit
ment to the council term.
"When students came to me and said, 'Do
you think students will win?' I said yes, but
maybe not by running a conventional race, -
Scoboria said.
Paul Mamros, who was in charge of USG's
off-campus voter registration drive, is Paul's
commmunity coordinator.
Although the change will not be
printed until the semi-annual Grad
uate Degree Programs Bulletin is
released next spring, Howard Palm
er, senior associate dean of the grad
uate school, said the amendment
takes effect immediately.
French said the stipulation that
individual programs may set their
own time limits still exists because
course work for some departments
such as engineering may become
outdated within a few years.
Irene Meglis (graduate-geophy
sics) said in her department, "the
course requirements have not
changed much, but the state of your
research project might be very, very
different (after a time lapse)."
Meglis said students in the geophy
sics graduate program are encour
aged to complete their masters
degree within two or three years, and
their doctorate degree within four to
six years. Previously, students in a
masters degree program had to com
plete their requirements within six
years, including seven consecutive
summers.
Before the amendment, doctoral
students had seven years from the
date of their acceptance as a candi
date to complete their program. If
more than five years elapsed between
passing their comprehensive exami
nation and completing their program,
they were required to retake the
comprehensive exam.
The council is composed of grad
uate faculty members and represen
tatives from the Graduate Student
Association.
see page 3