European Stars and Stripes (Newspaper) - December 25, 1985, Darmstadt, Hesse                                Page 6 the stars and stripes wednesday. December 25, 1985 taxi medallion sold in . For record Price of $100,000  York Nota taxi medallion has been said for $100,000, a record for inc Price of these taxi licenses which once Cost Sio. The number of medallions has Beer Frozen since 1937, so by Law there arc Only 11,787 medallions which License cabs to pick up Street hails in the City. But demand has been rising rapidly and so has the Price. Three months ago for instance taxi medallions sold for s75.000 to $80.000. The first medallion to hit the $100,000 Mark was sold earlier this month to a 30-year-old asian Stanley Cheung who lives on the lower last Side he is like so Many of the City s cabdriver Over the years energetic Young immigrants Able to borrow enough Money to buy a medallion and a cab and take off in Pursuit of the american dream. However according to Jay l. Turoff chairman of the new York City taxi and limousine commission a medallion has been Rifting in value so much that it is producing a new kind of buyer the doctor or lawyer or other professional who looks upon the medallion simply As an investment. Two things arc happening in the Industry because of the High Price Turoff said Many buyers Are going in As partners. Then because of the Start up of leasing companies owners arc turning the medallions Over to these companies who Sec thai he medallion is put on a car and leased for two shifts a  there arc two kinds of medallions Fleet medal Lions which under Law go on cars that have to be operated at least 20 hours a Day and owner operated medallion cabs which have to be on the Street at least 12 hours a Day. Some taxi Drivers say owner operated cabs arc not always on the Street for As Many hours As they arc required to be. There arc 6,818 Fleet medal Lions and 4,969 owner operator medallions. I Don t particularly like it Turoff said of the new kinds of owners who arc neither Fleet owners nor oper ate their own cabs. I m not ready to say whether it s Good or bad but when a Man owns the tin he has a vested interest in it and there is More Pride in what he s doing than when he turns it Over to a second  by Law medallions must be bought and sold through brokers who have been licensed since Only the begin Ning of the year. The taxi and limousine commission which regulates the Industry tries to keep a close watch Over the activities of brokers to assure that there is no manipulation of medallion prices. The Sale of the first $100,000 medallion was handled by a broker Nat Golubc Lucr of medallion Transfer. Cheung is an owner Driver. Born in Hong Kong in 1955, he came Here 10 years ago. At first he went to school and worked in a wholesale or Grable Market run by asians on the lower Hast Side. Then he began driving a leased cab. His wife works As a seamstress. He says he drives his cab 12 or 13 hours a Day. He says he does not know How Many years he will continue driving his cab. He has heard that since he bought his medallion another medallion has been sold for $105.000. If the Price keeps going up he said he May Sci a his medallion in a few years and do something else. There Are things better than driving a cab he said. Last april mayor Edward 1. Koch proposed in creasing he number of yellow medallion cabs in new York by 1,200, or 10 percent of the existing number. Under the plan which the mayor offered to the City Council the added medallions would be made Avail Able through an auction. Later the City would consider whether to auction More medallions in increments of 1.200. Koch s proposal is still before the Council pending inc completion of an environmental Impact study a special adviser to the mayor. Jack Lusk said. According to Turoff. About 1,600 medallions change hands every year. Banks give mortgages for medallions usually charging 14,5-15 percent interest. The Bank typically requires a Down payment of 20 percent Turoff said and the owner Driver might have to get a second mortgage from a credit Union or another source to finance the rest. There is now about $750 million outstanding in mortgages held by Banks and credit unions according to the taxi and limousine commission. Stateside time stands still in rare record shop where Vintage tunes never Wither Chicago a Christine Drc incs admits there was a Lime she could t Tell inc difference Between a Mon Lecanda by Alt. But now the 68-year-old owns a rare record shop plying a Trade in albums by those groups and others and she prides herself on providing customers with classics from As far Back at 1900 and Vintage tunes by Bobb Oxx and he Blue jeans. I really Don t have to work but i love it because every Day i m making somebody Happy Dreznes said. If you could see them smiling when they leave clutching their Little  Drc incs s obsession with rare recordings began in 1967 when her husband bought a store on Chicago s far South Side so she could keep Busy. The store which also functioned As a Post office carried Penny Candy halloween costumes and a couple of re  a woman walked in one Day and wanted a record something in the big bands Drc incs said. And from there on we went on to the Monkcus and the  today her one Story red Brick Beverly rare record shop houses 80,000 los and 200.000 45s. But because the business also offers modern top 20 hits Dreznes said she does t know How Many records actually might be consid ered rare. What is rare to you May not be rare to someone else she said. The most expensive item she has sold was a record of Elvis Presley s that s All right mama and Blue Moon of Kentucky which brought $350 five years ago she said. For $45, first edition albums featuring All time big band greats Art Kassel Hal Kemp and Kay Kysur arc available. For $100, you can pick up Frank Sinatra s musical on the  and for $300. Presley s red  others sell for As Low As $15. Dreznes said whenever she and her husband go on Vaca Tion they take a want list for their collection. A Una 27, rips into an Early gift. Gorilla world revellers go bananas at . Zoo san Francisco a twas a hairy merry Christmas at the san Francisco zoo s annual parly for the Dyni cons of Gorilla world. The revellers went absolutely bananas. First Patty bounced out of the main residence followed by Pogo. Kubic and Bwana. Then came three shy Little gorillas. Bang. Zura and . The simians made Short work of some 50 gaily wrapped presents ripping the boxes to pieces As children shouted approval. Inside were apples bananas oranges onions persimmons dates figs nuts and other Gorilla goodies which rapidly disappeared. Bui the apes weren t the Only animals allowed such monkeys incs. At the elephant House. Penny and tinker Belle trumpeted their approval As they smashed open their packages of fruits. There was Lillic to clean up afterwards. They ate every thing. Santa gets a second Chance to ride on City s fire engine Villa Park Calif. A City fathers said they could t afford any suits even Santa s. So when Villa Park lost its liability insurance Santa s ride through town on a fire engine was junked. Then perhaps through the magic of Christmas Santa got a second Chance. Villa Park was Able to get insurance for one december Day and inc Parade was rescheduled. This Orange county Community of 7,300 will pay $411for the 24-hour coverage. Teddy bears play victims at . Medical Center Drill Carlsbad. . A a disaster Drill with alight Holiday air that was the idea when a message came to the Emer gency room Al Guadalupe medical Center an explosion at a store full of Christmas shoppers broken Bones bums hysteria. But in this Case the victims were played by 13leddy bears. Humans usually play victims but Hospital personnel decided stuffed animals rather than groaning Ketchup covered people would be More in the Holiday spirit. I hey were treated just like we would have treated real people Hospital administrator Al Gorman said. The bears were donated to needy children after being nursed Back to health