European Stars And Stripes (Newspaper) - January 7, 1988, Darmstadt, Hesse                                Thursday january 7, 19b8 the stars and stripes Pago 7 184 . Banks shut doors in 1987 largest number of failures since depression Washington a More Banks failed in 1987 than in any year since the great depression and prospects appear Only a Lillic better Tor this year a Federal regulator says. The Federal Deposit insurance corp reported tuesday thai 184 commercial Banks closed their doors last year. An other 19 institutions would have gone under without assistance from the Agency s insurance fund. More than half the failures 95 came in three Energy dependent Stales that have been plagued by Lummll in the world s Oil markets. Fifty Banks closed in Texas 31 in Oklahoma and 14 in Louisi Ana. Fifteen of the assistance trans actions were in those Stales. Our current Hope would be thai next year would be a Lillic belter in terms of Bank failures Odic chairman l Wil Liam Sci Man said. If it is it la be by a Small margin. Much will depend on what happens in the Energy producing slates i m very pessimistic about the whole situation said Paul gel Man senior financial economist with the Wofa group a ban Cynwyd pa., forecasting firm. To said Low Oil prices combined with the continued slump in commercial real estate Means there s still a lol of cause for concern for Many Banks and thrifts across the country. One relatively Bright spot should be Rural Banks As the falling Dollar improves agricultural Eirons Gelman said. But he added it could hardly help but gel  failure of Banks making primarily farm Loans cased from 39 in 19b6 to 55 last year and Sci Man said he expected perhaps a 25 percent improvement in that area this year. Early Lasi fall Seidman said he expected a similar improvement in the fail ure rate of commercial Banks As a whole but on tuesday in an interview follow ing an Odic Board meeting he said developments on the Oil Market have helped to Dampen his previous optimism world crude Oil prices plunged Early in 1996 from More than Jjo a barrel to the 115 Range. Prices recovered to More than $20 a barrel but Tell again late in 19k7 As feuding open nations failed Oreach a production agreement that would have supported prices. Among the 3,200 savings institutions insured by the Federal Home loan Bank Board 17 closed their doors in 1987 and 26 required assistance to entice a stronger institution into taking them Over. That compared with 21 Thrift closings and 22 Assisium mergers in 1986. More thrifts were in trouble than those numbers indicate. Until funds from a congressionally authorized recapitalization began flowing in october Bank Board activity had been slowed by the Cash strapped state of the Federal Sav Ings and loan insurance fund. Bank Board chairman a Danny will has pledged to close merge or otherwise resolve More than 50 troubled thrifts this year. Sci Man called 1987 one of the most difficult and unusual years in banking since this Corporal Ion has been in Busi  last year s ik4 failures compared with 138 in i9s6,120 in 1985, 79 in 1984,43 in 1983 and 42 in 1982. The figures Are still Small compared with the Early 1930s when deposits were uninsured and rumours could spark runs on Banks by people frantic to withdraw their Money four thousand Banks col lapsed in 1933, the year before the Odic was created. From 1934 to 1939 they averaged 67 a year. Sci Man said Banks so far have suffered no great harm from the oct. 19 Slock Market crash but added it does create  he Laid that in those areas already having economic problems any slow Down caused by a crash could make  he also noted that 23 Stales had no Bank failures and institutions in Many of them posted record profits. One problem area bad Loans to third world countries does not show up in failure totals because they have been made by Large Money Center Bank that have so tar been Able to absorb the losses. But that problem is actually Mare severe in Dollar terms and is expected to contribute heavily to the lowest Overall earnings Tor Banks since 1934, the of dec and folic insure deposits of up to 1100,000 in member institutions. The Odic fund stood at $19 Bil lion at the Start of 1987, and Sci Man told the Board meeting tuesday we will have to struggle to break  hotel threatens to fire woman Over her hairstyle Pamela Mitchell this Little priggish Farmer went to grand rapids Mich. A a former hog Farmer has been sentenced to two years in prison for trying to conceal 190,000 Worth of assets including a Lam Borghini sports car during bankruptcy proceedings. Richard Rosenberg or a former Ionia county Farmer now living in grand rapids also was semen cd by . District judge Richard in scan 10 serve Ihrck years of Proba Tion. Rosenberg or 36, was convicted in november of bankruptcy fraud. He wanted to Hie bankruptcy reduce his debt Load and ride off into the Sunset in a Lamborghini assistant . Attorney Edil Landman said Washington a a Marriott hotel employee who was told to change her porn Row hrs Lyric or Low her Job complained tuesday to District of Columbia officials that the order is culturally biased. Pamela Mitchell 25, a  time reservation clerk Al the . Marriott in downtown Washington said in the complaint to the District of Columbia office of human right that the hotel s position discriminates against Black women with whom the style a popular. She said people should be allowed to express their culture. The hairstyle with its tight neat braids is of african origin. It was also worn by White actress to Derek in the movie "10.v Mitchell said she was told twice in writing to change her hairstyle and expected to be fired monday when she refused. Instead she m As sent Home with  and told to report Back later in the week for a meeting with hotel officials Janice Smith a spokeswoman for the City s human rights office said investigators arc examining the mar Riott policy but sent Marriott a letter dec. 22 saying the policy appeared to violate City Law because its effect Falls mainly on an identifiable racial  Robert sours Marriott s director of corporals relations said the hold would decide what action to Lake after studying the mutter further Clark called victim of bureaucracy Mitchell with cornrows hairstyle. Bennett backs embattled principal Washington a Secretary of education William j. Of Nncel rallied to the defense of Paterson n.j., principal Joe Clark tuesday saying the embattled disciplinarian is a victim of inc Blob of school bureaucracy. Bennett who poured Eastside High school in 1986 and has extolled Clark s methods in the past criticized the Pater son school Board which voted monday to draw up insubordination charge against the inner City principal for expel Ling 60 students Bennett did he called Clark tuesday to encourage him to hang in  it s Man versus Blob said Bennett a frequent critic of what lie regards As out sized bureaucracies running the Public schools Joe Clark is a Folk hero and 1 think largely deserves to be Bennett said in Telephone interview. He is not Mother Teresa but look Al the situation he was in and look what he s made of it. It s a much healthier place where learning ii going on Clark has gained National Fame for prowling the Halls of Eastside High with it bullhorn and baseball Bat in hand hurrying laggards to class and demanding thai students address him As or. Clark. Clark is Black and most of the 3,000 Stu dents Al Eastside Are Black or hispanic. Your support has Bou cd my spirits and has Given me the desire to continue to fight Siut a Little longer " Clark told Bennett in the presence of reporter. Clark has argued the expelled Stu dents some As old As 21, were chronic failures who belong in alternative schools not Eastside. He also got in Trou ble with the school Board for Locking fire doors. Clark say he took he step to keep drug dealers oui of the inner City school. I Don t know All the specifics of this but Ami generally a Joe Clark supporter sure i am said Bennett. He Laid he can understand Why dark expelled he students if they Are really wasting their time and their teachers time and inc firing with the kind of ethos and Esprit he wants to  Joe Clark has called the bureaucracy a bureaucracy and has indicated he was going to run his own school. We find whenever we talk to same crusading principal that they run afoul of the bureaucracy said Cunnett we be seen this repeated dozens of limes. This is not the Way the bureaucracy likes to proceed. "1 think thai principals should have More Power to hire and ire and to expel or retain and they should do in within the Law. But there s no constitutional right nol to be a pelted if you Are Violat ing inc rules or violating the Law itself Bennett said Clark told me he was buoyed by my support and that it meant a great Dent to  "1 will never forget talking to those kids and their parents and them telling me thai their Hopes and aspirations have changed because of this nun Bennett said