European Stars And Stripes (Newspaper) - May 13, 1988, Darmstadt, Hesse                                Pago 6 the stars and stripes Friday May 13,198b 7 Banks boost prime rate others expected to follow new York a at least seven of the nation s biggest wants boosted their prime lending rate a half Nerce Niage Point to 9 percent wednesday the first increase since just before the Stock Market crash in october. Chase Manhattan Bank was the first to announce the increase and was quickly allowed by Citibank chemical Bink manufacturers Hanover Continental ill innit rant Mellon Sank and Marine Midland Bank other big Banks also were expected to increase the key rate which is watched closely because Bankers use it As a base Rale on Loans to Many businesses and for consumer Loans including Home equity Loans. The Impact Wai Felt on Wall Street where the Dow Jones average of 30 Industrial stocks was Down about 44 Points to the 1,959 level by . Many economists had predicted an increase in the prime rate which often lags behind rising interest Rales elsewhere because the Cost of borrowing for Banks themselves has been rising in recent weeks. The higher borrowing costs reflect a fear of higher inflation which has been fed by evidence that the Economy is growing faster especially figures reported by the government last week thai showed unemployment had hit a 14-year Low. These inflation worries have led the Federal Reserve Board the nation s Central Bank to nudge Short Ter interest rates higher. For example the Federal funds Rale the overnight interest on loan among Banks has risen above 7 percent compared with around 6.6 percent less than two months ago. The last Lime Bank raised the prime rate was in september when it went from 8.75 percent to 9.25 percent. The Rale dropped Back to 9 percent on oct. 22, two Days after the Black monday Slock collapse. It fell to 8.75 percent nov. And fell to 8.5 percent feb. A slight hitch in planes r T dolt Hitchhiker in t going anywhere and neither is the Ether plane. Both an the Vic Lynu of a windstorm thai swept Cleveland s Burke lakefront Airport. Ai least six Light aircraft were damaged during recent thunderstorms with High hindi that ripped he aircraft Loose from their mooring. Stateside woman searches mailbag after kidnapping Carrier Biloxi miss. A a woman kidnapped a mail earner Ai gunpoint took him id her Home and searched his mailbag. Then released trim authorities said author lie said they had no explanation far the abduction of Maun Thompson 53, on tuesday. Thompson said he was making his appointed rounds when a woman drove alongside produced a ,22-caliber revolver and forced him to gel into her car. Inspector John Williams said. Williams did the woman drove Thompson to her Resi Dence and look him inside where she searched his mail bag but look nothing before releasing him unharmed. About 30 minutes after the alleged abduction Mae Lillian Smith 26, was arrested chained with Kidnap Ping and jailed under is 0.000 Bond. If Here was any reason for it Williams said she Hnsen told  Indian who led marriage rites of Patricia Hearst Dies at 90 new London Conn. A John e. Hamilton who called himself the grand Sachem of the Morgan Pequot Indian nation and conducted a marriage Cere Mony for newspaper heiress Patricia Hearst has died. He was 90. Hamilton known As chief rolling Cloud died tuck May at Lawrence and memorial Hospital. He broke his hip in a fall at his Home last month. Best known As an Indian Leader involved in lawsuits seeking the return of land to his Southeastern connect Cut tribe he was also a Cowboy who worked the West Ern Range during the first Quarter of this Century. In the 1930s, Hamilton founded the american Indi an defense association to protect Indian rights. He remained its head for decades. In 1979, Hearst and Bernard Shaw were married in san Francisco in a blood rite conducted by Hamilton. He also attended an episcopal Church ceremony the following Day. Survivors include four grandsons. Mining firm stockholders reject apartheid Resolution St. Paul Minn. Up Minnesota mining and manufacturing co. Stockholders tuesday overwhelmingly rejected a Resolution calling for the company to end All economic relations with South Africa the proposal was made by some stockholders As a Way to get South Africa s government to end its apart Heid policy of discrimination against Blacks in that country. A similar Resolution was rejected last year. The St. Paul company also said tuesday it expects higher sales and earnings this year. The mining Juan ported record earnings of j277 million on sales of$2.6 billion in the first Quarter earnings for the company were up 30 percent and sales up nearly is percent from t he same period a year ago. Falling propeller Shaft injures 9 shipyard workers san Diego a a 22-ton propel Ler Shaft fell on a group of shipyard work ers As they worked on a Navy destroyer injuring nine including two seriously officials said wednesday night s Accident occurred As workers were installing the intermediate propeller Shaft in the destroyer Elliot said Fred Hail Cut vice president of finance at the National steel & ship building co. They were in the process of aligning the Shaft when the Forward pan fell approximately 20 to 2 feel to the deck of the dry Dock Hall Cal said when the Shaft fell it dislodged scaffolding that had been erected below. Hai Lett said. One worker told Hail Cut the Crew was preparing to drive in the balls when the propeller Shaft Felt Hail Cut said. The most seriously hurl employee received injuries to his head and Arm Hal leu said. The Man who was nol identified was listed in critical condition at University of California san Diego med ical Center. In March. Osha accused the company of 100 other violations which earned 172,300 in penalties. The company is appealing the penalties. Hallel said 80 percent of the Osha recommendations were completed and the rest were in Progress. Head of aids education program for cd quits Atlanta a Paula Van Ness director of the National centers for disease control s aids education Campaign has resigned just As the Agency is about to mail aids brochures to 107 million households across the United Stales. Van Ness director of the cacs National aids information and education program said she will leave the Agency june 3 to become project director of a Ford foundation plan to funnel funds into Community aids prevention and social service programs. Van Ness resigned a week ago saturday three Days before the government unveiled the brochure it plans to Send la every american household according to wednesday s editions of the Atlanta Constitution. The brochures Are scheduled to be mailed beginning May 26. She Lold the newspaper she was working 90-hour weeks and was leaving the aids information program partly to find some balance in my  the Agency made no Public announcement of Van Ness departure but cd spokeswoman Gayle Lloyd said there was no attempt to keep it secret. The cd normally does not announce staff resignations she said. Van is was out of Lown and could not be reached for comment my understanding is she was made an offer too Good to refuse Lloyd said. "1 Don t know of any dissatisfaction she had about the  an assistant Laurie Sherman will leave the Agency june 10. To return to California said Ann Sims a cd spokeswoman. Sims said she did not know Why Sher Man was leaving the aids program. Sherman could not be reached for comment. Or. Gary Noble the cd s Deputy director for aids activities and Van Ness supervisor also could Noi be reached for comment. Van Ness said the Job change will provide Relief from the constant pressure unending travel and "90 hour weeks of the aids education Effort. For me it u partly an Opportunity to find some balance in my life to work at a Pace thai will allow me to have More of a personal life. No matter what some people say about government we work real Long hours really hard she said. Van Ness joined the cd april 19,1987, Filer serv ing As executive director of aids project los Angela. Before thai she served on the project Board of directors while working for a variety of family planning groups