European Stars And Stripes (Newspaper) - February 15, 1987, Darmstadt, Hesse                                Sunday february 15, 1987 the stars and stripes Texaco wants rehearing on Adverse ruling new York up Texaco inc s grim face chairman said Friday the Oil giant will ask for a rehear ing on a Texas appellate court decision upholding a lower court ruling thai in illegally interfered with pen mail co s planned takeover of Getty Oil co. In 1983. Alfred Mccrane chairman of the nation s third larg est Oil company with Headquarters in White Plains n.y., told a news conference thai Texaco is prepared to seek a just and economic settlement of this Mailer with Houston based Penn Oil. The Texas court of appeals Tor the first judicial District ruled Laic thursday that a Houston jury acted properly in november 1985 in finding Texaco guilty of derailing a merger agreement Between Penn Zorij and Getty. But the three judge panel reduced the jury s original $io.s3 billion judgment against Texaco to$8.33 billion before accrued interest. This judgment is More than Penn Zool has Ever earned in All its years in business and is 100 limes its net Worth the somber looking Mccrane said. In would be belter not to have the Oil business going on i court and gel Back to the Oil  Defranc who said the rial judge Solomon Casseb misled the Houston jury by not instructing them Onishe application of new York state contract Law to the Case conceded that in will Lake time to overturn this judgment but i am confident it will  the Texaco chairman said the company will go Back to the Texas appellate court where it will request rehearing on its ruling. Decree said Texaco has offered to Settle the Liti gation with fun Noil but has not received any proposal from the Houston Oil company. They re free to reveal what we be offered do Crane said. In Houston Pennzoil declined to disclose the details of any settlement offers from Texaco. Mccrane said Monaco with assets of about $32 Bil lion is financially sound and has support from our suppliers and the general business  Texaco Stock was Down s4.25 to s34.24 a share at midday on the new York Slock Exchange while per a Oil Stock was up 19.75 to 180.79 a share. Page 9 violent end to Madrid protest Ftp Pho id police club a protester As he runs by in the violent aftermath of student demonstrations in Madrid Spain marchers demanded More funding far Educa Tion and an end to College Entrance exams police estimated 8,000 to 10,000 youths look part in to generally peaceful protests. The student Union Lead ing the demonstrations called saturday for students to return to classes and await a government proposal. Wall Street banker pleads guilty in Stock Case new York apr a leading Wall Street invest ment banker turned in by Stock Speculator Ivan f. Boesky tearfully admitted to insider trading Friday and said he had agreed to surrender s9 million 10 the government. Manin a siege. 38, pleaded guilty to conspiracy and tax evasion in . District court As part of the widening insider trading investigation that has Sha Ken the securities dealing Community the past year. Siege is the confide mini informant whose information led prosecutors to charge three other Wall Street executive on thursday with insider trading . Attorney Rudolph w. Giuliani said at a news conference. In a separate civil matter a complaint by the Securi ties and Exchange commission charged that Brocsky paid Siegel $700,000 for secret information that helped Boesky companies make $33 million trading Stock. Three limes in late 19b2, 1983 and 19s4, Boesky couriers met siege in a conspicuous Public location in Manhattan exchanged passwords with him and handed him a briefcase stuffed with Cash the Sec complaint alleged. Siege without admitting or denying the Sec s Alle gation agreed to relinquish $4.3 million in Cash and securities Worth More than s4.7 million said Gary Lynch the secs enforcement chief. Though Siegel s Only alleged profit was the j700.000, we wanted him to disgorge More than he had put in his pocket Lynch said. He said he Sec had demanded the $9 million to Settle the matter arriving at the sum by figuring Siegel s alleged responsibility for Boesky s profit. In the biggest insider trading Case thus far Brocsky in november agreed to pay a record $100 million in penalties and to plead guilty to an unspecified criminal charge. He has been barred from the . Securities Industry for life a condition also accepted by Siegel. Boesky has been cooperating with prosecutors and in was he who led them to Siegel who in turn agreed 10 cooperate Giuliani said he identified Siegel As the informant whose cooperation led to thursday s insider charges against Richard Wigton 52, a vice president at Kidder Peabody & co. Timothy l. Tabor 33, a former Kidder Peabody vice president and Robert m. Freeman. 44, a partner at Goldman Sachs & co. The three have nol entered pleas pending indict ments. They Are accused of trading secret information then using it to buy or sell securities making millions of dollars for Kidder Peabody As a company and free Man personally. It is illegal to Trade stocks on the basis of important information that is not available to the Public. Tabor and Wigton worked for Siegel at Kidder pea body until february 1986, when Sicot i moved to Drexel Burnham Lambert inc. As co head of the mergers and acquisitions department. He resigned from the firm Friday. With ears streaming Down his face Siegel pleaded guilty before judge Robert j. Ward to two counts conspiring to Trade stocks on the basis of inside information and understating his income on his 1985 taxes by s365.000. A statement by Giuliani said Freeman allegedly gave Siegel information in june 1984 on an attempted takeover of Continental group inc., and that Siegel and others used the tip to buy Continental Slock for Kidder Peabody s account. Trie Sec complaint alleged that Siegel starting in August 1982, gave Boesky inside information on corporate deals involving Carnation co., Natoma inc., the Bendix corp. And Getty Oil co. In the criminal Case Siegel faces maximum penalties of 10 years in prison and j260.000 in fines. Ward set sentencing for april 2, and Giuliani said prosecutors will advise the judge then of Siegel s cooperation. Soviets Pardon american sentenced As smuggler Moscow Dpi the soviet Union has granted a Pardon to . Citi zen Peter Thomas d Oria sentenced to a 3 / a