European Stars And Stripes (Newspaper) - May 19, 1985, Darmstadt, Hesse                                May 1985 the stars and stripes Page 5 fed interest rates at lowest level in 6 years Washington a the Federal Reserve moving to stimulate a sluggish american on Friday lowered its lending rate to Banks and other Finan Cial institutions to the lowest level in More than six minutes after the Central Banks Citi Bank in new the nations second largest commercial lowered its prime lending rate to 10 percent from Citibank became the second major Bank to push its prime rate to its lowest level in on eight ranked Bankers Trust in new York initiated the and credit analysts said they expect other big Banks to follow the on half percentage Point drop in the feds Dis count rate was expected by Many analysts to accelerate a trend toward lower interest rates throughout the american the Central Bank said it was taking the action because of relatively unchanged output for some time in the Industrial sector of the stemming heavily from rising imports and a Strong the Economy turned in an anaemic growth rate of percent during the first three months of this the slowest Pace since the end of the last the weak growth had raised concerns that the Economy could Teeter into another recession in coming months and had led to growing pressure on the Federal Reserve to loosen its credit controls As a Way of spurring economic a change in the discount rate is the most dramatic tool the Federal Reserve has for signalling its the rate has not been As Low As 7vi percent since a when it was beginning in the fall of that year the Central Bank began raising the discount rate in a series of Steps designed to wring inflation out of the the fed raised the discount rate to a record High of 14 percent by the Spring of while inflation was brought under the High interest rates also brought on the steepest recession since the great depression of the military never bought says Reagan Washington a president Reagan complained Friday about publicity concerning Pentagon overpayment for spare and said the military never bought a Hammer costing More than As the Navy said it did in Reagan said his administration is talk ing about How to cure some great misconceptions that Are the result of a drumbeat of ceaseless propaganda that been prevalent in the land with regard to National just give you one line about Reagan that Hammer we never bought were the ones that found out that that what they been asking for it and we didst buy Reagan and that True of All those other horror the truth is there Success we Are the ones who have been uncovering All that trash and doing something about a Navy memorandum said the Navy actually paid for a single claw Hammer that was available in hardware stores for to it was part of an contract signed in 1982 with of Navy Secretary John Lehman later complained about and the Pentagon received in asked about reagans White House Deputy press Secretary Albert Brashear said the government didst really buy it the Hammer because we got our Money James chief of naval told the Senate armed services committee last february that the Navy paid for the Hammer and then demanded and received 7 fort Hood gis jailed in Texas beating death Harker Texas a seven fort Hood soldiers were in jail Fri Day in connection with the beating of a Man who died after being hit with a tire Horseshoe and other authorities As Many As 11 10 sol May have been involved in the May 3 killing of Candido Antonio Barroso at his trailer Home near the army officials said the assault apparently stemmed from a dispute the victim was having with his girl who lived with him in the an Ellis county Justice of the peace charged with murder were 4 Gre gory Toney Derrick both they were arrested wednesday and were being held in the Bell county jail in lieu of Bond five More soldiers were arrested at fort Hood thursday and charged with aggravated assault Bruce 24 4 Michael 22 David 24 staff Raymond Wake 23 and Robin Bond for each was set at All were mechanics and repairmen with the 190th maintenance co at fort they were going to try to straighten his Sands of time act and it just went too said Billy Moon of the county Justice of the a lot of it took place in the trailer Moon he was told that the woman and about 10 soldiers had a meeting in her Trail from what i they had been partying All Moon the body was driven to Ellis county and dumped there Friday officials repeated Calls to fort hoods Public information office were not Barroso body was found tuesday under some Bushes West of he died of head according to a preliminary autopsy his age was but he was said to be in his Moon said More than one of the 11 people involved in the attack helped Law officers search for Barroso Bell county District attorney Cappy Eads said the Case was still under investigation and More charges could be i would not preclude at this time the filing of additional charges against those already charged or against additional Eads we have a situation where we have some 11 people we Are still deter mining the extent of involvement of rambunctious rodents roust Volcker audience Seattle a one woman ran Barefoot and screaming out of the room and another leaped onto a chair but Feder Al Reserve chairman Paul Volcker carried on regardless with his the cause of All the excitement thursday was not Volckers topic Trade policies and budget deficits but rats dumped by protesters in the room where he was even though his listeners were depart ing in a the fed chairman kept the woman who ran out screaming had seen the first rat under her she leaving her shoes another woman climbed a one leg poised to take her up on the a Man crunched up a plastic bag and tried to smash the he then grabbed the rat and carried it at arms length out the Back through it Volcker kept it people including the Barefoot began to they found four More the tables emptied but Volcker the captor of the first rat returned armed with a cardboard Box and scooped up the last of the in his Volcker defended Trade policies As beneficial to Consumers and said the Federal budget deficit must be reduced if the nations Trade imbalance is to be he was addressing the focus International conference on the world econ omy and Volcker remained unruffled through out his despite other opportunities for before the rat a Man jumped on the podium As Volcker and other dig including Slade were eating and launched into a tirade against Volcker and various world financial the mans accusations were muffled As several men wrestled him after Volckers a protester tried to hand him a bloody chunk of saying it symbolized a Pound of flesh that Volcker was said to be extracting from in the stars and stripes 40 years ago today May 1945 the Okinawa Campaign was entering its final with the 6th Marine div broadening its Bridgehead in Naha and three Divi Sions closing in on the fortress City of 30 ago today May 1955 a Senate group was told that researchers Felt they were close to finding a cure for cancer if research received adequate 20 years ago today May 1965 president Johnson asked con Gress to repeal which prevent organized labor from forcing workers to join a 70 years ago today May 1975 marines invaded the wrong cambodian Island trying to Rescue the Crew of the captured freighter the Captain and Crew members said in Senate oks Walters for Post Washington a the Senate has confirmed the nomination of Vernon a Veteran Diplo Matic to succeed Jeane Kirkpatrick As ambassador to the United the Senate acted by voice vote and without since 1981 has served president reagans administration As ambassador at visiting More than 100 countries on diplomatic missions that often were cloaked in he Speaks eight languages and has served As an inter Preter for four Walters served As an army officer in world War the korean War and the Vietnam rising through the ranks to lieutenant the new ambassador served As military attache in France and he was Deputy director of the Central intelligence Agency in the administrations of former presidents Richard Nixon and Gerald cattle assault on tiring Range turned Back King up fire five Hundred troops opened up with machine guns and rifles on the open Range at fort Hunter a Herd of stampeding cattle came Rushing Over a Hill seventy four 900pound victims dead or fatally wounded in the Hail of gunfire before officers could silence the it was really an unfortunate said Lester commander of the army training when you give a comand to turn off 500 rifles and machine it takes a few seconds for the order to go from the lieutenant to the sergeant Down to the the officer said his men had moved the cattle out of the Way before the training exercise but All the noise must have spooked and they turned around and came running Back rancher Martin who raises head of cattle on acres near the army mourned the loss of his White faced herefords and Angus they better pay for Jaureguy they killed