European Stars And Stripes (Newspaper) - October 30, 1986, Darmstadt, Hesse                                Pane b the stars and stripes thursday. October 30,1996 Overall banking system termed sound but Odic foresees More failures san Francisco up the nation s banking system is sound but about 150 of the More than 1.450 troubled Banks in the United Stales will probably fail my year a William Seidman chairman of the Federal Deposit insurance corp., said. So far this year we have had 117 fail ures and assistance transactions Seidman said tuesday in a speech to the America Bankers association annual meeting. We will probably handle another 35 cases be fore the year  he said later at a news conference he does not see any substantial decline in the number of failures next  the list of troubled Banks is growing and now totals1,456 of the 14,000 insured by the Agency he said. Despite the problems Seidman noted,90 percent of the nation s Banks arc in healthy condition and the Overall system is sound he said. The Odic chairman said the experience of the past 10 years indicates that one of every 0 troubled Banks can be expected to fail. The list of problem institutions contains both big Banks and Small  he said he expected More Bank failures after 1987. Beyond that he said his main concern was the unprecedented growth in  i m not convinced this increase has t stateside brought with it a decline in debt Quality he said. We Musl proceed with care the flashing yellow caution Light is  the Aba meeting attended by 10,000,was to conclude wednesday with speeches by Edwin j. Gray chairman of the Federal Home loan Bank Board and former Secretary of stale Henry Kissinger. Seidman also was asked about a warning by Chase Manhattan corp. President Thomas Labrecque monday that Chase is studying the feasibility of giving up its banking charter and doing business As a series of non Bank subsidiaries if the government docs not deregulate the Industry. It would create chaos in terms of the regulatory process we have now Seidman said. Seidman said the Odic which insures deposits at commercial and Mutual savings Banks continues to support a recapitalization of the Federal savings and loan insurance corp., which performs the same function for Thrift institutions and which does not have enough Money in its fund to cover anticipated failures. We would like to see a Suc Recap along As they arc a separate Industry Seid Man said. He said he is not looking for a merger of the two funds As has been pro posed. There has been a record $4.2 billion in 1 Whoy a mild  it int Chaga corp. " ind Udea Ravoli at co cow nation car Lor jul or a Tutu tip he Burx Chogo Tom we of few Cash outflow from the Deposit insurance fund in 1985 and 1986, the Odic chair Man said. The Good news is after record failure Sand allowing conservative we Hope for losses we still expect the fund to end 1986at about $ 18.8 billion Seidman said. The insurance Pool however is not As liquid As last year with Only $15.5 billion or 82 percent of the fund in Cash or . Treasury securities. That s Down from 85 percent at the end of 1985. The rest is in assets assumed from failed Banks that were valued at about s12 billion on the failed Banks books bul which the Odic values adjust above s4 billion abortion clinic bombed 2 passers by injured new York a a bomb exploded in an abortion clinic in it Down Manhattan Early wednesday and two passers by were hit by Fly ing debris police said. The police department bomb squad received a phone Call warning of the explosion about 15 minutes before the 1 40 . Blast at the easter women s Center in the Murray Hill neighbor Hood said 5gt, de Burns the caller did not identify himself. One of the victim was taken to Bellevue hos Pital but wat released after treatment. Burns  other victim a 22-year-old Man was treated Tor Glass fragments in his Eye said it. Kirby Mcelhearn of emergency medical services. Barbara Methum director of the clinic said the bomb was hidden in a Flower pot in the waiting room Workman buried in gravel rescued by co workers Portland Oregon up a Workman who we buried in 3 feel of Damp Limestone travel for newly three noun said tuesday i never doubted that fellow workers would Rescue him even when they kept referring to him As the  "1 stayed pretty Calm said Bryan Wolfe 28,who suffered Only bruises and minor cuts. I was conscious the whole  Wolfe Foreman it Cement company said he and another worker were on a Mound clime Stane gravel monday when he dipped Down the Hill and was trapped in it standing position. Wolfe s head was exposed a Short Lime but the More gravel began pouring Down around him. About 20 Plant employees and firemen used three bulldozers shovels and their hand to finally fret him i heard my workers telling me to hang on and that they would get me out. Which is com farting but 1 was so compressed by the Rock thai i could t even open my Mouth to answer them,11 he said. "1 just kept believing they would get me out. The Only time it got Creepy was when i Bear them Mart referring 10 me a the body 3rd Pilot was first to report . Crash to control Center Hawthorne Calif. A an american air lines Pilot passing 8,000 feet Over a los Angeles neigh boyhood gave controllers the first confirmation that an  had gone Down. I see a us very Large us smokescreen off on the left Side of my aircraft the american Pilot said. It is a very Large smoke us column us coming from it and us emanating from the ground. And at our Altitude at 3,000 feel there s another smoke column vertically overhead. It looks like it something smoked up ahead and then went Down the Aero Mexico dc-9 had crashed aug. 31 after colliding with a private plane while approaching los Angeles International Airport. The disaster in Cerritos 20 Miles Southeast of downtown los Angela killed 82 people including All aboard both planes and at least 14 on the ground. A tape released tuesday by the Federal aviation administration showed the-35-year-old air traffic con troller tried repeatedly to Contact the Aero Citico plane and finally asked the american airlines Pilot to look for it. The unidentified controller lost Contact Wilh the Aero Mexico flight vhf minutes before the conversation with the american airlines Pilot in that Lime he repeated an order for a new heading eight limes without receiving a response the transcript showed. Investigators say the controller was distracted by the Pilot of a second Small private plane that appeared in restricted airspace around the Airport without Permis Sion and sought help from the los Angelet Tower. The Faa ii recommending a i8 Kly suspension of the License of the Pilot of that plane but did t blame the Accident entirely on the distraction. I would say that it took part of i mental capacity at tilts time the Faa s Jack Mcmillan said of the controller but controllers constantly View the scope so it would have been a momentary thing people express to Cut employees pay Newark no. A people express inc. On tuesday announced a 12 percent pay Cut for full time employees blaming poor bookings caused by a season Al lag and reports about its financial ailments. You be got to keep economics in line said com Pany spokesman Russell Marchetta. Traffic has been  he blamed the reduced bookings on september traditional Low ridership and the press pointing up the possibilities of  people got a Little cautious about flying the air line he said. People express told the Federal government earlier this month that if it did not gel speedy approval of a Purchase offer by Texas air corp. It might have to file for bankruptcy Protection. In an offering circular seeking debtholden1 approval for reduction of interest payment the airline warned that bankruptcy Relief May be necessary. The interest reduction was part of the Purchase agreement with ten air. The flip nip of pay cuts came a Day Filer people express invited reporters and company employees to rally at Newark International Airport to thank new Jersey elected official for helping along Federal approval for the merger. On Friday the transportation department five final approval to the Deal. All that remains ii a nod Froude Beholden. Mir Cretu blaming news reports for lower Book Ings said that in 1985 the number of available Micati filled dropped from 73.6 percent in August to s7.s percent in september. By comparison ridership this year dropped from 67 percent of capacity in August to 44.9 percent in sep tember be said. In August 9 Deal to sell people exp Reid tub diary Frontier airline we widely reported by Newt Urguiza Lions. Toe Deal Tell through and Denow nned Ron tier airlines filed Tor bankruptcy Protection. People express but $133 million in the tint Juroff of thu year compared with a lost in All of 1985 of $27,$ million.  ample Clariet my not Ivor Jabob