European Stars And Stripes (Newspaper) - August 2, 1986, Darmstadt, Hesse                                Saturday August 2, 1986 the stars and stripes Page 5 4 Banks go bust in Texas Midwest by United Piess International Federal and stale regulators declared four Banks in he Midwest and Texas insolvent thursday. Bad farm Loans and the depressed state of the Oil business were partly to blame officials said. The Bank failures in Texas Nebraska Iowa and Oklahoma bring to at least 83 the number of Banks nationwide that have been declared insolvent this year. In Nebraska Federal officials closed the Goring National Bank & Trust co. In Goring neb. The Federal Deposit insurance corporation said the Gering Bank would open Friday As a Branch of he Scottsbluff National Bank & Trusi co. And the Bank s depositors would become depositors of the assuming Bank. Over the past year the Bank experienced substantial Delerio orillion in the Quality of its loan portfolio due to poor lending practices and the depressed local agricultural Economy Robert Herrmann Deputy comptroller of the currency said from Washington. Odic spokesman Bill Olcheski said the germs Bank had total assets of $68.7 million. Of that Olcheski said the Odic would assume Loans with a Book value of $30 million. The failure was the fifth in Nebraska this year 01 Chest said. Iowa banking regulators closed the citizens stat Bank of Iowa Falls blaming the depressed farm econ omy for excessive losses. The Bank with assets of$51.9 million was i he ninth to fail in Iowa in is year. The primary reason was management lending poli cies and loan selection said Iowa banking superintendent William Burnau. Of course the agricultural Economy had a hand in  the Bank was to reopen Friday under the name he Green Belt Bank and Trust co., which assumed $50.9 million in Deposit accounts and s3s.4 million of the failed Bank Loans officials said. The Odic will retain about ji6.5 million of the failed Bank s assets mostly bad Loans the first National Bank of Cordil okla., was closed As a result of unsafe and unsound lending practices Herrmann  Odic named As receiver said attempts to find a purchaser for the failed Bank were unsuccessful. Herrmann said the Oklahoma Bank deteriorated rapidly in he last two years due to inadequate oversight by the Board of directors and management and Adverse economic conditions in the agriculture and Energy Sec  Ken Gorham. Closing manager for the Odic. Said 18 accounts with j99.000 were uninsured. Those depositors will receive receivership certificates for the amount but initially they will lose Money he said. The Bank held $21,9 million in total assets deposits of s21.9 million and total Loans of j 14.7 million. Insured depositors were expected to be paid by monday. Gorham said. In Texas inc Eden slate Bank with 113 million in assets was immediately bought by Eden financial corp., of san Anglo a Bank holding company thai planned to reopen the Bank Friday under the same name the Federal Reserve Bank in Dallas reported. The new Bank will assume about $12.4 million in approximately 2,300 Deposit accounts and has agreed to pay the Federal Deposit insurance corp. A Purchase Premium of j 104,000, said Steve Katsanou of the fac in Washington. Bus overturns 35 people Hurt in los Angeles los Angeles up1 a City bus Over turned on the Hollywood freeway thursday in Juring All 35 people aboard and backing up eve Ning Rush hour traffic for Miles. The Accident occurred at about 3 40 . When the Driver unsure whether to pull into a bus Stop swerved suddenly and hit the curb on the median strip a rapid transit District spokesman said. That bus jus nipped and Slid across the Street a woman who was driving behind the vehicle said. It was  the bus a freeway express line from Down town to Northridge in the san Fernando Valley Lay on its Side stretched across three lanes. No other vehicles were involved in the crash. Eighteen people were taken to hospitals with serious to minor injuries while 17 were treated at the scene according to police a nurse at Hollywood presbyterian Hospital said some people had broken Bones. All outbound traffic on the freeway was halted police said and cars quickly backed up through the downtown interchange. Challenger s engineers skipped safety inspections Washington a congressional investigators disclosed thursday Llinat Morton Thi Okol corp. Skipped three of seven mandatory safely inspections of the solid rocket motor whose explosion destroyed the space shuttle challenger. Investigators from the general accounting office Congress s auditing Arm told a House government operations subcommittee that the missed inspections at the company s Utah Plant were among 2,075 Possi ble Quality control problems in the manufacture of the faulty Booster rocket. The investigators said the problems ranged from he serious to the trivial but that the space Agency had concluded that none contributed to the Accident that destroyed the shuttle and its seven member Crew on Jan. 28. We did make an error on the of rings and Well Correct that said Edward g. Dorsey jr., vice presi Dent of Morton Thi Okol s space division. "11 was human error a mistake by the human being who prepared the paperwork but it was not a Case of no  Dorsey said the of rings were inspected twice and certified by subcontractors before arriving at Thi Okol splant in Utah and again in Florida when the rocket was assembled before launch. The person involved decided those were sufficient but we Are going to put the inspections Back in Dorsey said. He said some of the 2,075 potential problems were As Smalt As an omitted word in the 700,000 lines of company documents on the manufacture of the faulty Booster  six of the problems were recommended for further study and they concluded none contributed to it Accident he said. A presidential commission has said flaming Gas leaking through a faulty of ring Seal in a joint on the right solid rocket Booster caused the explosion. The accounting office investigators and virtually every member of the subcommittee said the report of Quality control lapses by Morton Thi Okol reinforced the arguments by the panel s chairman. Rep. Jack Brooks a Texas that Nasa should have a second supplier of the solid Booster rockets. Morton Thi Okol has been the sole supplier since the rockets were developed in 1973. Milton Socolar special assistant to he comptroller general who runs he accounting office said an air Force Thio Koi team examined the production history of the rocket motor that was blamed for the explosion. The team found three of seven mandatory govern ment inspections on the critical of rings which caused the challenger disaster were not conducted Socola said Thi Okol had deleted the three government inspections from the inspection plans without govern ment authorization one of the inspections was to detect imperfections or voids such As bubbles an the o rings. Riding up front can be dangerous Ann Arbor Mich. Dpi Auto Mobile safety engineers wiil have a Tough Ime making front seat passengers As Safe As Drivers in a collision results of a University of Michigan s Udy showed thurs Day. The study by the University s transportation research Institute said Fea Tures like collapsible steering columns while the main cause of upper body in jury for Drivers actually provide Protection against More severe injury than is sustained by front seat passengers. This Protection u not available to right front occupants who if they Are unbelted have no Buffer to prevent their being slammed into the instrument panel or transmission lever said Oliver car Sten a research scientist involved in the study. The study also found that steering columns provide a higher de Gree of Protection in High Speed collisions Drivers and passengers who fail to Wear safety belts account for 98 percent of the lifetime societal costs of Auto Acci Dent injuries. Head face and neck injuries Are the primary causes of Long term impairment of occupants involved in car crashes. Head on collisions account for More than one third of Drivers Lon term impairment. Planned parenthood claims discrimination withholds some workers contributions Sands or time in the stars and stripes 40 years ago today. Aug. 2, 1946 countess von Hes sen of the Royal House of Hesse said about $500,000 to 750,000 Worth of the Kronberg jewels have not been recovered. 30 years ago today. Aug. 2, 1956 British French and . Foreign ministers agreed to Call an Early conference of interested countries to negotiate an agreement for International control of he Suez canal said London news reports. Kansas City to. Up it planned parenthood federation of America sued the state of Missouri thursday claiming its rights were Vio lated when the state excluded it from receiving contributions from state work Era. In a lawsuit filed in . District court in Kansas City planned parenthood officials said the Missouri state employee combined charitable Campaign discriminates against he group by forbidding employees to donate Money to it from their annual fund drive. The guidelines were created a num Ber of months ago said Keith Bozarth Legal counsel for he Missouri office of administration. Planned parenthood will not be participating because we have a set of guide lines against contributions o groups that provide abortion services Bozarth said. Planned parenthood which received j6.000 from the Sec in 1985, is seek ing an injunction to keep the state from forbidding employee contributions to the group. By seeking to discriminate against planned parenthood because it advocates the constitutionally guaranteed right to provide abortions Missouri de Nies its citizens the right to contribute to worthwhile programs trial Aid women inless fortunate circumstances he spokesman said. Aug. 2, 1966 Charles Whitman a 24-year-old sex Marine killed his wife Ana Mother then went on a wild shoot ing spree from a sniper s Perch in a Tower at the University of Texas in Austin. Police shot Whitman to death. 10 years ago foe . 2, 1976 sugar Ray Leonard of Palmer Park md., and Mike and Leon Spinks of St. Louis were among five . Boxers to take Gold medals at the Montreal olympic games