European Stars And Stripes (Newspaper) - February 26, 1989, Darmstadt, Hesse The authorized unofficial publication for the . Armed Force Good morning 1bbwmwpwb�b"w"���T�"""TT"T"T1 � vol. 47, no. 312 sunday february 26, 1989 25 daily and sunday d 8693 a inside stripes d military court allows to coverage Page 4 n Black lawyer picked for Justice rights Post Page 5 d Ray Mercer wins pro boxing debut Page 21 d Tower going Public in nomination Battle Page 28 is Gus Schuettler so near. The game is Over and the Sweet expectation of Victory turns to the tearful reality of defeat for Trina Lattany of the Wiesbaden warriors. For the details of a close game won by Heidelberg i the final four seconds making the team members 1989 Dodd big schools champions see Page 23. Bush urges peace on return to China Beijing a president Bush flew to China on saturday clasped hands with Ordinary people in Bei Jing s main Square and urged chinese leaders to join the United states in planting Trees of world peace so future generations can sit together in the the president and his wife Barbara were jubilant on their return to the country where Bush served As America s diplomatic representative in the mid-1970s."it s great to be Back he said. At a welcoming banquet in the great Hall of the people Bush toasted his Host president Yang Shang Kun and recalled a chinese proverb that says on generation plants a tree the next sits in its we owe it to Mankind to work together for peace an International stability Bush said. Let us continue then to work together to Plant Trees together so that the next generation ours and yours can sit together in the in response Yang praised Bush for making great contributions to developing chinese-. he said that steady development of these relations will be of enormous thousands of people crowded along the wide Flag draped Boulevard in front 9f Tiana men Square where Bush hopped from his limousine to shake some hands. It was his fifth visit to China since he spent two years As the chief . Envoy to Beijing before formal sino american relations were Back someone called out to Bush in English. The president replied in tentative chinese Xie Xie or thank you. From the Airport where he arrived in late afternoon from Tokyo Bush was driven to the Dia Yutai state guest House for a formal Welcome Over Tea with pre Mier i president gave i a pair of Texas boots and the Premier gave Bush and the first lady a couple of he lived in Beijing previously Bush was known for his habit of biking around the Tiana men Square where . And chinese flags flew Side by Side chinese halted their bicycles for a glimpse at their american guest. A few of them applauded. The visit by the Bushes blends sentiment and leaving Tokyo the president declared that his talks see Bush on Back Page experts suspect Metal fatigue in Jet tragedy Honolulu a structural fail ure probably caused a gaping Hole to blow open in the Side of a United air lines jumbo Jet 20,000 feet above the Pacific Ocean sucking nine people to their deaths authorities said. Related Story photos Page 3. Although the Fri summoned three bomb experts from Washington to join the investigation saturday aviation experts said the most Likely cause of the tragedy was Metal fatigue not terrorism. The 18-year-old Boeing 747, the oldest i United s jumbo Jet Fleet was about 100 Miles South of Honolulu Early Friday when a 10-foot-wide, 40-foot-High Section of fuse Lage suddenly ripped away exposing the cargo and passenger compartments. The nine passengers six americans two australians and a new Sealander were instantly blown through the opening and at least one was sucked into one of the Jet s engines authorities said. In what United characterized As a heroic Effort the Pilot managed to turn around and bring the plane Back to Honolulu. The nine missing passengers were identified As Susan and Harry Craig of Morristown . Rose Harley of Hackensack . Anthony and Barbara fal Lon of Long Beach Calif. Mary t. Han Ley of Bay City Mich. Lee Campbell of Wellington new zealand and or. John Michael Crawford and John Swann Bothof Sydney Australia. Local hospitals reported treating 27people, mostly for minor injuries. The most seriously injured survivor was a 48-year-old woman listed in guarded Condi Tion at Queen s medical Center with cer Vical and abdominal injuries. Five people remained hospitalized Friday night various hospitals reported. Some were United Crew members a airline official said. A special United flight left Honolulu for new zealand and Australia on Fri Day night with 247 passengers fro flight 811. Coast guard spokesman Keith Spangle said a search vessel found two airline scats believed to be from flight 811 and a 4-by-6-foot piece of Metal thought to be part of the fuselage. The debris was found in a search area about 100 Miles Southwest of Honolulu where the Accident 21-member team from the National transportation safety Board was scheduled to arrive saturday said George har vey area coordinator for the Federal aviation administration. Rep. James Oberstar d-minn., who is see tragedy on Back Page gis look Back on Greener february Days by Randy Mcclain financial writer spec. Gordon s. Cockerline remembers february 1985 fondly. It was a time when every american servicemen Ber in Europe was an expert on foreign currency Exchange rates and every Day brought nothing but Good news. Feb. 26,1985, brought the Best. It was on this Date four years ago that the .Dollar set All time highs against the British Pound italian lira and other european the West German Mark the Buck set a 13 year High. In Short it was a great Day to get paid in dollars. See Chart on Page 18. I was working in the office of the adjutant Gener Al at v corps in Frankfurt and we had a Board there where the daily Exchange rate was always posted Cockerline said. On feb. 26, the Buck was Worth 3.45 Marks at military banking Teller windows Al most double what it s Worth today. When the rate was posted we stood around clapping and in Italy where the Dollar topped out at 2,167.50 lire the reaction was much the same. Joh Hoffpauir a planning officer at Nas Simonella Sicily Calls february 1985 the Dollar s heyday. He should know he s worked for the . Government in Europe More than 26 years. Watching the Dollar Back then was like watching the temperature in the summertime Hoffpauir re Calls. All it did was keep going up and up and the Buck buoyed by High interest rates in the United states and a resulting influx of foreign invest ment set records against most european currencies for 16 of the first 18 trading Days in february four years ago. Only after feb. 26 did the Dollar Edge Bac Down from its dizzying Heights. Nervous european trading partners and a Reagan administration that thought things might be getting out of hand intervened with up to $ 1 billion in Dollar sales per Day and Well timed Dollar bashing pronouncements to drive the Greenback lower. . Officials were worried that an overvalued Dollar would make . Exports too expensive overseas and cause an already troublesome american Trade deficit to balloon further. It did. One month later the Dollar was 7 percent lower against the Mark and Down roughly the same amount against the British Pound and italian lira. A year later the Dollar was nowhere near its Peak. In West Germany it had fallen from its trading High of 3.4725 Marks to 2.24 Marks. In Italy it had Tum bled to 1,527 lire by feb. 26, 1986. And in England one Pound Cost $1.49 compared with the $1.05 of year earlier. Today the military Exchange rate for the Dollar is 48 percent lower than its Peak against the Mark 38percent off its Peak against the lira and 68 percent lower against the British Pound. In the fall of 1985, european Central Banks an the . Federal Reserve began a concerted Effort to continue the Dollar s dip in an attempt to better bal Ance world Trade and bring some stability to currency markets. Their program seems to be working. Last year the Dollar traded for the most part in a Broad Range Between 1.60 and 1.90 Marks for a , the Dollar stands in the 1.80-Mark neighbor Hood. One Benefit the . Trade deficit has improved. In continued on Page 18
