European Stars and Stripes (Newspaper) - June 16, 1990, Darmstadt, Hesse                                Saturday june 16, 1990 the stars and stripes Page 5nyse considering 24-hour trading Exchange head confirms 5-step plan in works i Nashville Tenn. Apr the new York Stock Exchange is considering a five step plan that could Lead to around the clock securities trading by 2000 the exchanges chairman confirmed Here thursday. Acknowledging reports that began Cir a Platine in new York financial circles hours earlier the official John j. Phelan or said the expanded trading hours could begin with two Brief sessions after the markets Normal close at 4 . Subsequent phases could involve Stock auctions held several times a night some form of conventional trading overnight and finally to 24-hour dealing. A we want to do it but not if it becomes too expensive a Phelan told reporters in Nashville after meeting with officials of . Bradford amp co., a regional brokerage firm. Phelan said he is meeting with member firms around the country and would know by mid september whether there is enough interest to implement after hours trading. La. House approves Bill setting 10-year terms for abortionists Baton Rouge la. Apr the Louisiana House of representatives passed the nations harshest state anti abortion Bill thursday a measure that would provide up to 10 years hard labor and $100,000 fines for doctors who perform abortions. The Bill passed on a 74-27 vote and moved to the state Senate. Its proponents said they Hope the . Supreme court eventually would review the Bill and use it to overturn the courts 1973 Roe is. Wade decision that legalized abortion. Earlier thursday House legislators twice voted against exceptions to the Law that would have allowed abortions in cases of rape. The Bill would allow abortion Only to save the life of the Mother. Democratic gov. Buddy Roemer repeated his pledge to veto any Bill that does not contain exceptions for victims of rape and incest. A i think the governor will reconsider if he a truly pro life As he says a said rep. Woody Jenkins the conservative Democrat who sponsored the Bill. Sen. Mike Cross the Democrat who will handle the Bill in the Senate said he expected it to pass there although the Senate version might contain exceptions for rape and incest. The Bill would not penalize women who receive abortions. Jenkins has claimed that abortion is tantamount to abuse against women. Jenkins focused debate on whether life begins at Conception and repeatedly referred to House committee testimony to that effect by or. Jerome Lejeune a French geneticist. The Louisiana legislature has a history of enacting Tough abortion Laws All of which have been stayed or declared unconstitutional Over the past 15 years. The concept of 24-hour trading has stirred controversy at the 198-year-old Exchange because of fears that it would Lead to computers replacing the powerful Stock specialists who regulate the flow of trading on the floor through an auction system. A a it san incredible Surprise a one specialist in new York said in response to Phelan a comments. A the incredible thing is that the floor Hasni to lynched anyone  the Call for after hours trading has grown with technological advances and increased Competition from overseas. The nose which said it has been discussing the concept for two years has been criticized by some for moving too slowly to after hours trading. A there is some volume going overseas and wed like to capture some of that volume Back a Phelan who is stepping Down at the end of 1990, said. Phelan merely sketched the outlines of the plan for reporters in Nashville. He was pressed into the disclosures after details of the plan began circulating in new York earlier. According to the earlier reports the Exchange would first introduce two after hour sessions of one to two hours duration apiece. The activity mainly would involve program trading and other techniques typically not used by Small investors. Those Steps could begin later this year. In a possible third phase the Exchange sometime in 1991 would begin auctions of each listed Stock at 8 ., Midnight and 5 . Eastern time. The stocks would Trade once at each auction with trades combined at an agreed upon Price. More than 1,700 stocks now Are listed on the Exchange and All could be included in the auctions. Brokers could enter electronic orders for nose listed stocks at their offices in new York or around the world. They would be Able to see what other orders had been placed and alter their own. At the auctions the Exchange would pair off As Many orders As possible in one huge Trade that could involve millions of shares and hundreds of buyers and Sellers. Market players estimate the nose has lost trading of 10 million to 20 million shares a Day to foreign markets where Many . Companies now list their securities. Also other Domestic markets that offer after hours trading via computer pose an increased threat. Several Wall Street professionals questioned the need for 24-hour trading saying investors would rather Trade when the Market is open. A we done to have a huge demand even by our institutional customers for after hours trading a said Anthony c. Woodruff director of equity trading at Kidder Peabody amp co. A people want to Deal when the Market is open. A for the new York Stock Exchange its a publicity game a he said. A a it a for them to be Able to say they re open 24 hours a Day.  different perspective window Washer Lucien Coleman rides a platform Down the Side of the 30-Story Gannett co. Headquarters in Rosslyn a. It takes Coleman and his partner about three weeks to clean the building s 5,000  the stars and stripes 40 years ago today. June 16, 1950 a West Germany took another step toward a return to world society by joining the Council of Europe. A the Road to Europe is now open a said Chancellor Konrad adenauer.30 years ago today. June 16,1960 a a Pacific Northern airlines plane crashed into a Mountain near Anchorage Alaska killing All 14 persons aboard.20 years ago today. June 16, 1970 a in a Survey conducted by Knight newspapers about americans first Moon Landing the theory was widespread that the . Government and the news Media had faked the event. Sceptics suggested that Neil Armstrong had taken his Gigantic step for Mankind somewhere in arizona.10 years ago today. June 16, 1980 a the Spanish government said it would apply for nato membership in 1981 when its agreement with the United states to continue american military bases in Spain was to be renewed. Senate oks family leave Bill Bush threatens another veto Washington apr a Bill requiring employers to give workers up to three months of unpaid leave in family emergencies won Senate approval thursday night. The legislation was sent to the White House where president Bush has threatened a veto. The Bill passed on a voice vote after Senate leaders worked out a bipartisan agreement to take up the Bill quickly and avoid a recorded vote. The House voted 237-187 to approve the Bill a 46 votes Short of the two thirds that would be needed to override a veto. Republicans who opposed the measure conceded they Aid not have the votes to Stop it. Democrats who backed the Bill urged Bush not to veto it. Business groups opposed the Bill and their lobbyists said some senators who opposed it wanted to avoid a recorded vote and were acting in Hopes that Bush would veto it and that the House would sustain that veto before the Senate had to vote. The Bill requires business and government employers to provide workers with up to 12 weeks of unpaid medical leave or leave for the care of a new child or an ill child Parent or spouse. It exempts businesses with fewer than 50 workers and workers who Are the highest paid 10 percent within a company. Employers would have to continue health insurance benefits for those on leave and restore returning employees to their previous jobs or equivalent positions