European Stars And Stripes (Newspaper) - May 19, 1987, Darmstadt, Hesse                                Tuesday May 19, 19b7 the stars and stripes Page 7 graduates told to value . System commencement speakers offer guidelines by far associated pre Veteran Anchorman Walter Cron Cilc told graduating student sunday thai the United states was still the world s Best hop for the future of Freedom and chief Justice William h. Rehnquist urged graduates to value their spare Lime. Weekend commencement speakers also included the Fri director other journalists a pulitzer prize winning cartoonist and a Cabinet member. America s potential for leadership is in her political social and economic strength not her military Power Cron Kite said at Brandeis University in Wai Tham mass. Our National image has been tar. Rushed in recent Yean and continues to serve As a kind of Universal whipping boy the former lbs Anchorman said. Still it it the american image that attracts like a great Tran global Magnet the most ambitious As Well As the most oppressed and hopeless among the Earth s Peoples Rehnquist known for his disdain oblate hours ignored a sprinkling of protes ters when he urged Boston University graduates to place Ai much value on 19-foot jump wins spare time As they do on work time. Time is a wasting asset and most of us realize it Only Loo late to avoid spend ing a lot of it unwisely he said. Like any free Market economist you ought then to look at what else might be done with the marginal few hours at the end of the week thai Aren t really necessary to earning a  the protesters cited Rehnquist s vote last year in upholding a state s right to ban sodomy his record on civil rights including authorship of a Brief in 954 opposing a ban on segregation and past statements against the equal rights amendment. Fri director William Webster told graduates at Westminster College in Fulton. Mo., that americans must Noi let political turmoil in Washington distract the nation from its leadership role in the world. We Are going through a period of re assessment of our National leaders Webster said not specifically referring to the Iran Contra affair. The All important Trust Factor is Way  but he said we must not let the distractions in Washington sap our nation ability to  Gloria St Mcm feminist and editor of is. Magazine urged Tufts University graduates is Medford mass., to follow their hearts rather than Bow to societal pressures or traditions. The Point is less what you choose than that you have the Power to choose she said sunday. No one Way of living can be right for All  pulitzer prize winning cartoonist carry Trudeau on sunday praised the value of impertinent questions during Snadd Adf at Smith College at Northampton mass history s movers framed i hair questions in ways entirely disrespectful of traditional conventions said the creator of the comic strip  former stale department spokesman and journalist Bra and Kalb told graduates at Central Missouri state University that the administration circumvented constitutional checks and balances by secretly Selling weapons to Iran and diverting profits to the nicaraguan rebels in the process of sending spare part to Iran the state department was turned into a spare part of . Foreign policy Kalb said in Wai Rensburg to. Kalb resigned from the stale depart ment last year after it became known the government operated a disinformation Campaign against libyan Leader Moarn mar Qadhafi. He formerly worked for Abc lbs and he new York times. Nicholas Dan loft. Diplomatic editor for . News and world report told Indiana University of Pennsylvania graduates that both the United stale Sand the soviet Union benefited in the Deal that freed him lost year a scr his arrest on spy charges. In the end the soviets got the ear of the president they got their Man arrested spy a Cannody Zakn Arav Back and Bey got the Summit. So what s so bad about that Dan loft said at Indiana a. . Transportation Secretary Eliza Beth Dole urged graduates of Colby Sawyer College in new London n.h.,to continue the revival of America s Funda mental principles by contributing to government and society. Ii is an obligation we owe not Only to ourselves but to the Framert of our government men and women who risked everything for Freedom Dole said at the Ali women College. 3,000 frogs compete for glory join Hud urges Frog sugar town Dandy to Victory. Part Angels Camp Calif. Up a Man whose daughters frogs have dominated the Calaveras jumping Frog Jubilee in past years sunday coaxed his Frog sugar town Dandy to Victory in the com petition spawned by a Mark Twain talc. John hand of Sweet Home ore., won $500 for coaching his Frog to a winning 19 feet tit inches in three leaps. The record set last year by a Frog named Rosie ther biter is 21 feet so inches. Sweet Home and the hand family have a history of producing winners in the Frog jump which is in its 59th year. One of hand s daughters Janet Seiber won in 1984 and daughter Debbi hand won in 1982. Hand earns a living As a grass feed wholesaler. The contest attracted More than 10,000 spectators to the Calaveras county Fairgrounds where about3,000 frogs were entered at a fee of s 3 each. Hand and sugar town Dandy bested 71 finalists in the Competition sparked by Twain s Short Story the celebrated jumping Frog of Calaveras coun  second place Winner was Doug Offenheiser of Lemon Grove Calif., who won 1300 with a Frog named High Fly that jumped 19 feet 6 inches. In third place was Gene Fasano of Gustine Calif., with a Frog named John Hancock global Trust. Hewon is so. R of or Block wins refund in dispute with irs Kansas City to. Up the co founder of or Block the tax preparation company settled a dispute with the internal Revenue serv ice that resulted in a refund so Large it must be reviewed by a congressional committee. The irs had billed Richard a. Bloch for about s1.3 million in connection with profits he made when he sold an insurance company he owned i Bermuda. But Bloch disagreed with the govern ment and took his Case to its tax court. The government and Bloch settled the Case before it was heard with the agreement award ing Bitch a sizable refund. Lawyers would not disclose the exact amount but did confirm that in must be reviewed by the joint committee on taxation which hears cases involving refunds of $200,000 or More. The dispute entered on How Bloch should re port income from the Sale of the Bermuda company. Bloch claimed it As a Long term capital gain which made it 60 percent tax free but the government said in was fully taxable As Ordinary in come. Bloch paid a Large amount last year on the $ 1.3 million tax Bill and after the settlement reduced the tax had a Large refund coming. California finds $ 1.5 billion surplus in Treasury Sacramento Calif. Up startled California fiscal experts who thought they were facing a budget squeeze a few months ago now find the state Treasury awash with $ 1.5 billion More than expected the same phenomenon is taking place in Washington d.c., and in other states where affluent taxpayers last year sold stocks and other assets to win More favourable capital gains treatment before new Federal tax changes took effect. Brad Williams forecasting director for the California commission on state finance disclosed May 6 that tax receipts had soared si.5 billion above estimates made earlier in the year by Republican gov. George Deukmejian s budget staff. Williams called in unprecedented  we Are awash in Money agreed stale treasurer Jesse Unruh chairman of the commission. Similar unexpected windfalls Are crop Ping up in other states. It seems to be pretty consistent with states i be talked to Minnesota Virginia North Carolina new York Massachusetts said Bob Rader director of the Maryland Bureau of Revenue estimates one of the first to notice the trend. Everyone seems to be awash in Money. It s a Shock to  while new York has not formally announced its latest figures Williams said his conversations with analysis there indicate the unforeseen Bounty could be inthe hundreds of millions of dollars. California in contrast to most states does not have an income tax system directly linked to Federal tax Laws and was expecting no full sole Windfall. On the contrary Deukmejian imposed a round of cutbacks in december after his fiscal advisers warned that lagging slate revenues and Cost overruns threat ened to wipe out a budget Reserve. But the red Ink never flowed. In Massachusetts gov. Michael Dukakis similarly proposed a package of fees and cuts earlier this year when Ini tial projections showed a slowdown in Revenue growth. This month he abruptly i threw the plan amid rising revenues. The Economy has just been muddling along and Here we Are confronted wit this huge Revenue forecasting error said California s Williams up until april we were thinking everybody was thinking thai people were paying their taxes earlier and everyone expected april to come in weak. It came in  the Federal Treasury also had an unexpected surge in april tax receipts up to $10 billion More than anticipated to help lower the Federal deficit. The Treasury is sitting on a Humon-eou9 pile of Cash Peter Davis of pin denial Bache securities inc. Told the Wall Street journal nobody had any idea How massive in would  the absence of other plausible explanations Federal analysts and their state counterpart 3T crediting the Surg mostly to the sales of assets especially in View of the Stock declines on heavy Trad ing in much of december. We Haven t seen anything to indicate tax returns ought to be up markedly agrees Maryland s Rader. Our Economy is doing Well but it s not in double digits. I m certain that a lot of it was  not All states Are swimming in Cash. The reverse is Low in states with economies based on Oil or agriculture and no personal income tax such As Alaska Wyoming and South Dakota