European Stars And Stripes (Newspaper) - July 15, 1988, Darmstadt, Hesse                                Page 4 the stars and stripes Friday july 15,1988 big Banks raise prime rate to 9.5 percent new York a big Banks raised their prime lending rate thursday to the highest level in More than two years a half percentage Point Rise to 9.5 percent signalling More expensive Loans for Consumers and  was the second boost in the key lending rate this year and reflected the Banks own costs of borrowing Money which has been rising steadily Over the past few  prime is watched closely because Bankers use it As a basis for calculating Loans to businesses and for determining Many types of fixed and adjustable rate consumer Loans including popular Home equity Loans. Chase Manhattan Bank in new York was the first to announce the rate increase and was quickly followed by other big Banks including Citibank first National Bank of Chicago Bank of new York and manufacturers  last increase in the prime was on May 11, from 8.5 percent to 9 percent. The increase thursday put the prime at the highest Point since March 1986. Reaction in the financial markets was muted partly because a Rise had been widely expected. On Wall Street the Dow Jones average of 30 industrials was off less than a Point to the 2,104 level by late morning. In the Bond Market a sensitive barometer of the econ omy and interest rate trends the Treasury s key 30-year Bond was Down slightly in Price raising its yield to 9.18 percent from 9.17 percent late wednesday. The prime rate Rise came one Day after Federal re serve chairman Alan Greenspan warned he would move to tighten credit if inflation started to accelerate. Testifying in Congress Greenspan said the fed Attis juncture might be Well advised to err More on the Side of restrictiveness rather than  there has been growing evidence that inflation could Rise significantly this year. Low unemployment strains on America s productive capacities and rising commodity prices caused by the drought Point to higher consumer prices in the months ahead. Many economists have predicted that interest rates would Rise slightly this year but do not believe the increase will be dramatic. Meese announces plans to join conservative groups Washington a attorney general Edwin Meese Iii announced thursday that he will join the conservative heritage foundation and the Hoover institution of Stanford University when he leaves the Justice department next month. Meese the subject of a just completed 14-Monthcriminal investigation into his involvement with scan dal plagued we tech corp. And other matters said he looks Forward to a More reflective period without the White heat and daily pressures that come with High level responsibilities at the White House or a Cabinet  Meese was Counselor to president Reagan from 1981 to 1985 before becoming attorney general. In the announcement issued by the Justice depart ment Meese said he will be a distinguished fellow at the heritage foundation working on a variety of Public policy issues and will be a distinguished visit ing fellow at the Hoover institution. Water Witch Way a photo parched regions of America praying for rain need a Miracle or perhaps a dowser to Lead them to  dowser Don Wood finds the demand for his services has shot up since the drought s Onset. The Man from Ulster county n.y., who uses a divining Rod held Between his two hands says that when he walks Over a vein of water he can feel the tip of the Rod As it s drawn Down to the ground. School District s budget woes Lead to takeover by Kentucky Frankfort by. A the state took control of Kentucky s third largest school District s finance wednesday citing a budget deficit estimated by consultants to have been As High As $3.3 million. The action by the state Board of education Means state superintendent John Brock s written approval will be needed for All hiring and purchases by the Pike county District which has 15,250 students in 30 schools. The Board acted after two consultants it sent into the mountainous Eastern Kentucky District reported dozens of management problems. Beyond what we see in writing there Are unique political problems in Pike county at the present time Brock said. I think the state Board would have to take some extraordinary action at this time. I think they need some help Brock said. He said the state veto Over local hiring would relieve the local Board of some political pressure to Dole out school jobs pressure that has increased As layoffs increase in the Coal Industry according to the report by consultants Arnold Oaken and James Melton. Brock also said it would remove that temptation for school Board candidates to Promise jobs for votes. Three of the Board s five members Are up for re elec Tion in november. The chief reason for the state Board s action however was Pike county s third straight year of running a deficit budget. Imported toy Panda cards recalled Washington a two types of toy cart imported from Taiwan Are being recalled because they could pose a choking Hazard the consumer product safety commission announced thursday. Labelled musical car St-22 a or b made in Tai wan the toys came in both wind up and Battery pow ered models and sold for about $2.50 each according to the importer i Peng enterprises of los Angeles. The toys consist of a Panda pushing another Panda in a four wheel cart. Each cart has an umbrella wit plastic balls and disks hanging from it. These items can come off and present a choking Hazard for Small Chil Dren the safety commission said. Parents should take the toy away from children and either discard it or return it to the retailer for a refund the Agency said. About 4,800 of the wind up versions and 3,600 Battery powered toys were sold Between no vember 1987 and january of this year officials said. Ministers demand studio destroy film on Christ Universal City Calif. A Christian ministers have demanded the last temptation of Christ be destroyed before release claiming the movie directed by Martin Scorsese depicts Jesus Christ As deranged and driven by lust. It is the most serious misuse of film Craft in the history of film making the Rev. Lloyd John Ogilvie of the first presbyterian Church of Hollywood said at a news conference tuesday by a coalition of Christian leaders. Universal studios the movie s co distributor has vowed to release the film in september and accused the religious leaders of advocating censorship without having seen the film. The movie adaptation of greek Autho Nikos Kazantzakis 1955 Book stars Willem Dafoe As Jesus Christ Barbara Hershey Asmara Magdalene and Harvey Keitel As Judas Iscariot. The greek orthodox Church condemned the Book As heretical. The ministers emotional demand followed a full Page advertisement in the Hollywood reporter on monday that called on Universal to withhold release of the film. The and was signed by 61christians in the entertainment Industry. The ministers contended the movie which has been called a look at the human Side of Jesus contains a dream sequence in which Christ comes Down off the Cross and has sex with Mary mag Dalene. The Content of both the script an the film portrayed Jesus Christ As a men tally deranged and lust driven Man said Larry Poland president of High land based master Media internationalinc., a Christian consulting firm. Universal defended Scorsese saying the director who once studied for the Priesthood deeply believes that this film is a religious affirmation of  other Scorsese films include taxi Driver and raging  the ministers rejected invitations to attend a screening leading to inaccurate and exaggerated claims Universal said in a statement issued with co distributor Cine Lex Odeon films. The ministers acknowledged they adn t seen the film contending they avoided it in protest. The group said they based their protest on two versions of the script they saw and reports Froman unidentified person at Universal. However the Rev. Dave Pomeroy a spokesman for the National Council of churches who saw a rough Cut of the film tuesday in new York defended it. The Point that is being missed by the critics is that he rejects that temptation to live out his life Span and die As Aman Pomeroy said of Christ. What needs to be noted is this is a movie of novel not a movie of the gospel  the temptation in the title refers to Kazantzakis hypothesis that Jesus had opportunities and was tempted to avoid dying on the Cross. Tuesday s news conference was the lat est Salvo in an attack on the movie by evangelical and fundamentalist christians who called on people of All faiths to write or Call Mca inc., Universal Parent company and Register their complaints