European Stars And Stripes (Newspaper) - November 6, 1987, Darmstadt, Hesse                                Page 4 the stars and stripes Friday november 6,1987 4 Large . Banks Cut prime interest rate new York aim four of the nation s largest bunks thursday slashed ii in prime lending Rales a Quarter percent age Point to 8.75 percent amid mounting pressure for lower rates in the aftermath of last month s Stock Market plunge. Citibank chose Manhattan Bank. Bankers Trust and mor Gan guaranty Trust co. Announced the cuts in their key lend ing rate shortly after the Slock Market opened. Stock prices which started of lower thursday quickly ral lied following the announcement. The rate was Cut As recently As oct. 22, when it dropped for the first time this year from �.25 percent to 9 percent. The latest reduction also follows interest rate cuts in Britain and Germany. Before last month the prime had been raised five times since August 1986, when it stood at 7.5 percent. Three Banks had boosted the rate As High As 9.75 percent in october but promptly reduced it to 9.25 percent in the Wake of the Stock Market s plunge oct. 19. The prime is the Benchmark used by Banks to set interest rates on a variety of corporate and consumer Loans. 3rd raise for Congress is unlikely Wright says fugitive Winchester captured in Georgia Elberton a. A authorities on thursday captured convicted Bank robber Elton Royce Winchester one of the . Marshals service s "15 most wanted fugitives and on the run for More than seven years. Winchester 47, is described by the marshals service As a career criminal with convictions for Bank robbery burglary grand larceny escape and firearms violations. He also is wanted in connection with a slaying in Salinas calif., an drug allegations in Florida. Congressman sentenced for accepting gratuities Washington a members of con Gress who received two pay raises this year probably won t be getting an additional one that they approved for themselves last week House speaker Jim Wright announced thurs Day. Wright a Texas said that opponents of the latest proposed hike will be Given a Chance to kill it off later this month when the House takes up a government spending  would be my guess that the Congress would vote to deny any such pay raise in these circumstances said Wright referring to the government s budget troubles if for no other purpose than to demonstrate an  Wright and the House democratic leadership came under harsh criticism for including the 3 percent pay raise in a Bill last week that was designed to reduce the Federal deficit. The measure which included $12 billion in new taxes passed 206-205 last thursday night Only with the help of a late vote switch. Al though the focus of the debate was on the taxes democratic vote counters said privately that the pay Issue Cost them 15 votes. The pay raise for members of Congress who now make $89,500, was included in the Bill indirectly. The legislation authorized pay raises of 3 percent effective in january for Federal civilian employees overriding the 2 percent recommended by president Reagan and con Gress did t exempt itself from the hike. Wright denied it was his intent to slip through another congressional pay raise. He now has decided to allow opponents of the raise to eliminate it by taking the Money to Payfor it out of the omnibus spending Bill for fiscal 1988 which comes bcfo1". The House later this month he said. Rep. Vic Fazio a Calif chairman of the legislative appropriations subcommittee said the democratic leadership is sensitive to criticism of the raise and there s clearly a desire to react to  Fazio said How the Money would be taken out of the Bill has not been decided. He said Federal judges and top executive Branch officials might also lose the raise at the same time but not rank and file civilian Federal workers. The democrats put the pay raise in the Defi Cit reduction Bill claiming it actually would save $900 million because of an attached provi Sion requiring Federal agencies to absorb the costs elsewhere in their budgets. The congressional budget office a non partisan Agency estimated that giving All Federal civilian employees the 3 pc cent raise instead of 2 percent would Cost $546 million. Members of Congress in january received Cost of living raise approved for a ederal employees which brought lawmakers pay to $77,400. Then a few weeks later it was raised again to the current level based on the recommendations of a Federal commission and Rea Gan to raise salaries for All top government officials. Wright was criticized because he delayed vote on a Resolution to Stop the second pay raise until after the deadline for overturning it had already passed. The 3 percent raise scheduled for january would bring congressional salaries up to about$92,200. New York a rep. Mario Biaggi was sentenced thursday to 2 i Yearsin jail and fined $500,000 for illegally accepting free vacations from a political ally. . District judge Jack b. Winstein however stayed the sentence pending Appeal. He said the congressman s crime were bred in greed and arrogance but he took into consideration Biaggi s years in. Public service and the 70-year-old Law maker s health problems. The judge said he Felt saddened in sentencing Biaggi because i feel a great Deal of affection for the  he also said he placed a great Deal of weight on the hundreds of letters he had received in support of Biaggi. Biaggi could have been sentenced Toup to 12 years in prison and fined $750.000. The congressman said he was upset by the sentencing but he plans to Appeal. I be been fighting All my life. I still believe i m innocent. I Don t believe in my own heart that 1 did anything wrong he said. Biaggi was convicted of accepting gratuity a free vacation for himself and a woman companion from for Mer Brooklyn democratic Boss Mcade Esposito in Exchange for the Congress Man s efforts on behalf of coastal dry Dock a Brooklyn ship repair company that was a major client of Esposito s insurance brokerage firm. He was also convicted of interstate travel to commit a crime and obstruction of Justice. Esposito 80, was convicted of paying the illegal gratuities and of illegal inter state travel. He was sentenced oct. 23 by Weinstein to a two year suspended Pris on term a maximum Fine of $500,000, two years probation and 500 hours of Community service. Bolh men were acquitted of More serious charges of bribery and conspiracy. Texas mayor pursues Driver who collided with his car san Antonio Texas a mayor Henry Cisneros personally battled crime when he chased an Auto sever Al Miles after someone rammed into his family car parked outside his Home. Cisneros was watching television about 10 25 . Wednesday when he heard something crash into his car. He saw a car drive away and decided to pursue it. "1 was Barefoot when i got into the car the mayor said. I did t have a weapon and i did t want to run him off the Road. I wanted to follow him to see where he was  the mayor drove one of his daughter s cars and followed the other vehicle at speeds up to 50 Man. While he gave Chase his wife Mary Alice called police. The mayor said the Driver noticed he was being followed and drove through several Sid streets to try to elude him. Cisneros said he lost the car after three Miles when the Driver went around a rail Road crossing Barrier thai had been lowered for an approaching train. After the mayor provided officers with description of the car and its License num Ber police arrested Alfonso Moreno Villa Gomez 25. Night magistrate Tino Guerra ordered Villagomez held at the Bexar county jail in lieu of $800 Bond on charges of driving while intoxicated. Best Friendly drool punting As she gazes up at a portrait Esme the mastiff seems to be Savouring the opening at the National dog museum in St. Louis to. With Esme is owner Debbie Larriuz of Union to. The museum which moved to St. Louis from new York was founded to Honor Man s Best Friend in Art