European Stars And Stripes (Newspaper) - October 27, 1987, Darmstadt, Hesse Page 28 the stars and stripes tuesday. October 27.1987 Stock prices continue worldwide Tumble from Page 1 trading after its worst week in history. The average lost nearly 300 Points last week. The Dow s decline is the second biggest in Points after last monday s and was an 8.04 percent decline. That tanked in eighth in percentage terms just ahead of Fth 7.84 percent on july 21,1933. The volume of trading was 308.82 million shares up from 245,6 million shares Friday. The Market closed at 2 ., two hours ahead of Normal to allow the Market to catch up on paper work. Ii also closed Early Friday. The new York Slock Exchange and the american Slock Exchange announced monday they will extend their carry 2 Closings through Friday. Big Board chairman John j. Phelan or. Thursday announced that the Exchange would shorten its trading Day by two hours Friday monday and tuesday to allow n use personnel and its members to catch up with the flood of Raper work generated week s record volume. The Exchange normally operates from 9 30 . Until 4 At the time Phelan said he had informed the while House of the Exchange s plan to temporarily curtail trading before making the announcement. The new York Slock Exchange again monday asked member firms nol to conduct computerized program Trad ing Tor their own accounts. The computer buying and sell ing has been Bia Mcd for contributing to the wild swings in the Market. Analysis said world Slock markets were trying to achieve equilibrium. There is no consensus Aslo what value is in the Slock it Tarkel that punctures Confidence in a Day to Day sense. Once that Breaks Down then you have enormous volatility because then you Don t have an Anchor said Robert Hor Mats vice chairman of Goldman Sachs International Dollar was trading at 142.1s japanese yen up from 141.80 late Friday and at 1.7735 West German Marks Down from 1.7782 Friday. Trading was hectic in the first session since a four Day in is briefs . Rules out e. Germany trip Moscow up Wade Roberts the . Army defector who quickly became disillusioned with life in the soviet Union monday added Easl Germany to the list of places he does not want to live. Roberts and his pregnant West German girl Friend Petra Neumann had said recently that they would move to East Germany so if wife would receive better medical care and he would still escape the desertion charge stemming from his de parture from his army base last March. However alter talking with East German embassy officials monday Roberts said the officials wanted to place the two of them in a concentration deprogramming Camp for six months after they arrived in East Berlin. The 22-year-old american who had rejected life in the soviet Republic of turkmen a said that he feared he would become purely a propaganda tool by moving to Easl Germany. "1 guess we Are country Hunting Roberts said. He said he plans next Louy to move to Finland to have their baby but he has not yet been in Contact with finnish official. Reagan moves to ban All imports from Iran Washington Jap president Reagan moved monday to ban All . Imports from Iran citing the continued and increasingly Bellicose behaviour of the government of Ayatollah Ruhollah Khomeini in the persian Gulf. Reagan said in a statement that he also was directing actions necessary Tor a ban on the Export to Iran of 14 Broad categories of . Products with potential military Reagan had been considering such Steps for Sev eral Days after a team of advisers in both the National Security and economic areas had recommended them. In asking the state department and Treasury department to Lake action As soon As possible Reagan was using authority granted under a Section of the International Security and cooperation development act of dear of dear Walls a londoner As her emotions keep Pace with the news of plunging Stock prices. A photo suspension which officials had hoped would Calm anxieties Over Market crashes overseas. Analysts tied the plunge to concerns Over the effect that changes in foreign Exchange rates could have on the Stock Market and to worries that . Inflation will soar. In new York on sunday Wall Street continued to Clear its books following last week s record sessions. New York Stock Exchange employees and brokers continued to work on eliminating the backlog of paper work from last Mon Day and tuesday when More than 1.2 billion shares were traded. Richard Torrenzano a spokesman Tor the Exchange said about a half to a third of the 2,000 employees worked during the weekend to Complete transactions in which there were disputes about the number of shares or the Price of a Slock. Pay from Page 1 Money to the Day. Congress can Only recommend increases to allowances he said. We can t direct the president to do the tentative plan is a Compromise Between Senate conferees who pushed for a 4 percent pay raise and House members who wanted a 3 percent increase the source said. This was the Only Way we could find the Bucks to give service members something More than a straight 3 percent raise he said. The House source confirmed action on several other personnel issues. He said the conferees agreed to set a catastrophic Cap on medical costs Lor family members under the civilian health and medical program of the uniformed services. Families of Active duty personnel would have their costs capped at $1,000 per year while families of Reti Rees would have a Cap of j10,000 per year. Approved a hike in Navy submarine pay of 35 percent and a plan to restructure career sea pay to make in More generous. Turned Down a Senate proposal to increase the household goods weight allowance for senior enlisted personnel. That plan in t totally dead but it won t be considered again until next year the source said. Gorbachev from Page 1 Reagan administration but Gorbachev said he would be wilting to wait for the next administration. He made the comment to the effect that Well if you Don t come around to our position on this i May have to Deal with the next administration " Cartucci said on Abc to s this week with David that of course is his Choice but they be also said it in informal conversations not informal negotiating sessions that they recognize the merits of Deal ing with a conservative administration in terms of get Ting whatever arms control. Negotiated and ratified by the Senate he said. Carlucci echoed Shultz s View that substantial Prog Ress has been made on achieving the treaty on medium and Shorter Range nuclear missiles. I think it s Anile Clear that an inf intermediate Range nuclear forces treaty it Well within reach. I would agree with or. Eduard Shevardnadze s statement that it s a matter of weeks he said. Shevardnadze is the soviet foreign minister. Sen. Sam Nunn a is chairman of the Senate armed services committee said a .-soviet Summit May nol be necessary for an arms control treaty i believe the Lack of a Summit this year May be a Lessing in disguise Nunn said on lbs tvs face the i Don t believe an inf agreement is ready. We have some terribly difficult technical but important verification things to work out. So i would rather take our Lime not gel in a hurry and get a sound agreement even if it does t get signed Mif next year and even if it s not signed at a Summit War from Page 1 Way monday morning without incident from item Arab emirates port of Dubai. Elaborating that Ramadan and Aziz key aides of iraqi president Saddam Hussein discussed Tehran s repeated aggressions against Iraq Kuwait and saudi Arabia. The Pentagon also reported that i tie Navy s 13th Convoy of re flagged kuwaiti tankers in the Gulf got under a inc unite the newly re flagged product Carrier Middle own inc last of 11 kuwaiti tankers to be preregistered under the . Flag left for Kuwait under the Protection of the guided missile frigate Ford the Pentagon said. Officials in London confirmed that Kuwait has registered two of its smaller stale owned tankers to Fly the British Flap and is in the process of registering a third. That will entitle them to the Protection of British warships. There Are at least three in the Gulf backed by four mine sweepers
