European Stars And Stripes (Newspaper) - October 10, 1988, Darmstadt, Hesse Page to the stars and stripes monday october 10,1988 chairman defends plan for coordinated trading halts new York a the head of the new York Slock Exchange has said thai last october s crash was caused by technical Market problems and not economic changes and he defended trading halts id avoid another meltdown. Assessing developments since the crisis John Phelan conceded that circuit Breakers or a coordinated trading Hall among exchanges is an artificial restraint on the Market. But there Are a few Points in Lime when you need 10 shut it Down said the chairman of the biggest . Securities Market. The nose and the Chicago mercantile Exchange jointly pro posed the circuit breaker plan in july. The proposal under review by Federal regulatory agencies an contingent on approval by other Exchange Calls for a one year isl in which predetermined Price drops would trigger temporary halts in trading. Trading on he nose would Stop for an hour if the Dow Jones Industrial average fell 250 Points and for to hours if the average cell an additional 150 Points the temperatures same Day. At the Chicago Exchange the nation s largest futures Market trading would Stop for an hour if the Standard & poor s 500 Stock Index futures contract fell 30 Points and for two hours if it fell a further 20 Points the same Day. The new York and Chicago markets would coordinate the exact timing of the halts. The frantic Selling of Large amounts of Stock in new York coupled Wilh plunging Stock Index futures in Chicago were important catalysis in the oct. 19-20 panic. European weather ten pm so 54 twill i la t9 90 w 35 53 41 67 46 m 41 41 x in 29 66 49sr 41 63 is 57 3str 74 50 67 41 72 27 s4 51 s3 45 is 40 14 1 50 13 51 jt49 it 9 11 Hilo c. Jcmunxqi.1 cry emf cd dec humid cart Max , Denver Anuw tit i3s�nc fun Quilic u 31 1 41 2 41 11 32 is 3751 40 to it 73 44 u 11 so 41u a n is so 407b or 63 ii b2 31 x 3bm � b4 55 � a 41 31 72 49m 14 � 21 Bloom county St it &,.hi 5 Rrt list. E jew no. D 06 7s London a to p is w Mirc r Bwy 9 a am Tomti Ufa t to of pm Cenath. C 44 is hot. I pinup m Dot 13.2ihvh1hw writ Tell mall Cru. C stun in club. C m Molly la. Cd noun cd Otto t � 1 to am c7& t4 vat Tiv. C new " Mem m of to Hyrtl dour. Mariy i in the months since Phelan said it has become Clear that the crash was caused by technical reasons within the Maricl and not because of fundamental shifts in the while he said the chances of a similar rout seemed More Remote now at some Point in time Well go off through a fundamental shift in the Economy and so then if it the Dow average does go Down 250 Points there s no Gua Rantee that it s not going to go Down another 500 critics of the circuit breaker strategy say it could drive investors overseas to less restrictive marked. Moreover they say it could i hasten a Market panic if investors decide to sell their stocks at the same Lime hoping to get out of the Market before a trading halt lakes effect. Phocian and other defenders of the proposal argue that such halts can have a calming effect on the Maricl giving everybody an Opportunity to think rationally rather than sell in a Blind panic. Anyway i think it s Worth a try Phelan said. October 7 Hilo Row Iii fat Znoj Ophof Llly mail has Lac Murrhu kuuuca.1knmrm.1 70 31it u 56 most 40 10 St u 70 47 h 11 79 u 92 is 51 9f u 40 71 39 11 7b be 37d 11 73 47 75 51 49 44 12 41 h x 79 51 56 3b b7 97 62 34 Lytic i find a 60 50 66 52 to 6s b5 37n � 71 41 11 is 19 14 is 72 60 43 a 39 76 50 is Al 63 37 b $1 s3 4z is 41 ntthfwi.1 5 29dttatunu Elyj s3 is 4s s9 it 14 13 is 13 pnmd4nu.cfuuljc poll wota.1 h400.i snfiinua.1sjnjraj so jul p ntslntir.,1 9 71 is 30n to is to 67 60sc so 33 u 37 71 in 42 h 39 so 31 h 3i by 34 til 4 4 �1 75 65 is 77 46 79 so it 5573 e 66 m to Soto n 63 41 St sir uniteemrrch.1 Seffl Nuj weiiu.1 Rural umut vim. It 11 7j 4t s u7b 56 62 37 56 31 57 12 79 17 $3 30 63 13 so 3? 79 19 57 3d 53 in 95 61 u ii b7 43 17 Sisi 30 h is 49 31 101 74 the far Side today s crossword across 44 tul mahal 1 comic Mil for Short 6 san Duero players Box s3 us Follower 4 cow set Smarn 7 Ali Irollo a 1 1 Lown 131 1w wil1 Lincow s8 sicilian z neglect3 kind of illy4 wire measure 83 hair need25 unit of weighting India 66 crowd 14-Lllxh movie in token16 Irish sen rod17 River in france18 Small jorrh20 surr away 22 Rug 24 hurry28 Eli lure excessively Al 32 Itolo far Valerie Harper volrnnnb9hwwt putlltoch60 Refore 61 Mcmyn Leonand Sullivan Down 1 Tim pulp fruit g Miry orc my h 7 in libel h ctul.hltl8 us Lillial 27 28 Good in Hub sly in Lark 3d love god Liioi intall 31tofrri b eau Lens fron Ifor or he in dark for loan nary Dilpor. In Duon trip 12 Lari Cala 3s London birth Elfr secllon21 rower solution Rome 25 Milru. 40 plan Index Tell 42 vesllro4e Jewsh non let 47 he Bhaisa Tab ?jeifr1_ saturday s answer 10-10 48 Dimce Solly 49 epochs50 diffident Al problem for a Princess?62 ending Tor fare or fire64 storm Center 10-10 doonesbury Bloom county did not arrive in time for this edition scene from the film Golf dates re thl Lime the a not jus looking Tor acacia leaves
