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The Chronicle THE CHRONICLE THURSDAY, OCTOBER 22,1987 <5 DUKE UNIVERSITY DURHAM, NORTH CAROLINA CIRCULATION: 15.000 VOL. 83, NO. 38 Fuqua school gets gift of $2 million By DAN BERGER The RJR Nabisco foundation announced Wednesday a $2 million gift to the Fuqua School of Business for use toward the construction of the University's new execu­ tive education center. During a press conference at the construction site, Ross Johnson, president and chief executive officer of RJR Nabisco Inc., presented a check for $500,000, the first of four installments to be paid annually over the next three years, to President Keith Brodie and Fuqua Dean Thomas Keller. The donation will be used to es­ tablish Horrigan Hall, named in honor of Edward Hor- rigan, chairman of the board and chief executive officer of R.J. Reynolds Tobacco Co. and vice chairman of RJR Nabisco. The 40,228 square foot building, which includes the administrative offices for Fuqua's new R. David Thomas Center, is scheduled for completion in late 1988, along with the rest ofthe center. "Because we do seek excellence, we could not find a more appropriate place to invest some of our foundation dollars than here at Duke University," Johnson said. This is what we refer to as a low-risk investment, for we already know the kind of dividends it will return . .. and in this kind of economy it's nice to find a low-risk investment," he said. Keller said the foundation's contribution marks a major addition to the center's effort. "This core building, Horrigan Hall, will be the hub of activity in the Thomas Center," he said. In addition to the administrative of­ fices, the building will also include a dining room seating See FUQUA on page 7 • Rebound continues; Dow adds record 186.84 points By LAWRENCE DeMARIA general was more important than the move in the Dow market on Monday and Tuesday. N.Y. Times News Service average, which is made up of 30 of the nation's premier What prompted the cautious optimism Wednesday NEW YORK — Stock prices rebounded strongly Wed­ companies. was the fact that, on the New York Stock Exchange, nesday, and the Dow Jones industrial average surged "I think it is going to come up like it came down," said 1,756 stocks rose in price and only 210 fell. That was in 186.84 points. Robert Farrell, ofthe stock market. Farrell is the chief sharp contrast to Monday, when only a handful of "safe In the last two sessions, the Dow has recouped more market strategist for Merrill Lynch, Pierce, Fenner & haven" gold stocks swam against the waves of selling. than half of the 508 points lost in Monday's spectacular Smith Inc., the nation's largest brokerage house. "It Even Tuesday, when the Dow set its previous point-gain selloff. seems to me that we have passed the crisis." record by climbing 102.27 points, losing stocks outnum­ But while Wednesday's record Dow surge was cer­ But Farrell and many other analysts cautioned that bered winners by a 10-to-l ratio. tainly welcomed by a Wall Street still shocked from the stock market was not yet out of the woods. Rocky The broader base of Wednesday's rally could be seen Monday's brutal 22.6 percent decline, traders and days lie ahead, they said, and those days could include in all the gauges that track the stock market, including analysts said the fact that buyers snapped up stocks in more of the panic selling that disrupted the stock See MARKET on page 4 • Tel-Com to install new digital switch system Student struck, By 8LANTON PHILLIPS The $10 million conversion cost, to be fi­ Duke Tel-Com will install a new switch nanced by bond issues, will not affect injured by bus system next July to relieve the overloaded rates for hookup or service, said Don current system, according to Tel-Com offi­ Eastwood, Tel-Com manager of finance. From staff reports cials. The new system, which will Tel-Com currently charges a hookup fee of A female student was hit by a eliminate student party lines and accom­ $7.50 and a service charge of $12.45 for University bus Wednesday afternoon modate new communications techniques, private lines or $9.40 for party lines. according to Lt. Michael Carden of will be one ofthe first of its kind to be in­ "Other factors may raise the rates in the Duke Public Safety. The student was stalled by a private AT&T customer. next few years," he said, but he said he jogging along Towerview Drive toward Tel-Com decided to replace the current anticipates no immediate increase. The project will be financed by the same bonds Union Drive when apparently she in­ system last June because the number of advertently stepped off the curb and phone hookups available on the system is the University is selling to fund the recently approved new dormitory. was hit by the bus at 5:07 p.m., Carden approaching capacity, said Tel-Com di­ said. rector Norm Sefton. The present system The new system will incorporate a digi­ The student was listed in fair condi­ now carries 9,586 of 10,000 possible lines, tal format rather than the analog format tion late Wednesday evening at Duke and cannot be expanded since the model See TEL-COM on page 4^ Hospital. She suffered a laceration to of switchboard it requires is no longer her forehead. No other information manufactured. The new system will was available on her injuries, accord­ replace old lines and provide approxi­ ing to Deborah Simpkins with Medical mately 4,000 additional lines. Weather Center public relations. The switch conversion will eliminate Chilly weather: Today will be Public Safety will not decide on char­ party lines and possibly provide custom sunny with temps in the 50s. Hoar ges against the bus driver until an in­ calling services such as call-waiting. Tel- frost is likely tonight. It's really going vestigation is completed, Carden said. SCOTT NEUMEISTER/THE CHRONICLE Com has not yet decided which services to to be cold, so don't fall in any aban­ Public Safety would not release the bus When Tel-Corn's new digital switching make available. The new system will not doned wells, or you might end up with driver's name. affect long distance service, but will make system Is Installed next July, party a frozen little head. lines will become a thing of the past. all local calls faster, Sefton said. THE CHRONICLE THURSDAY, OCTOBER 22,1987 World & National Newsfile Israel, Jordan, U.S. discuss peace talks N.Y. Times News Seivice By THOMAS FRIEDMAN its details — some of them very important — were N.Y. Times News Seivice known only to Shultz, Peres, Shamir and Hussein, none Azcona advises halt in contra aid: us. JERUSALEM — Israel, Jordan and the United States of whom have yet been willing to discuss the proposal military aid to the contras should be halted at least are discussing a new proposal for Middle East peace publicly. More important, the official said, none of the until January, according to President Jose Azcona of talks in which Jordan and Israel would negotiate di­ participants have committed themselves to anything at Honduras, the Reagan administrtion's closest backer rectly under the joint auspices of Moscow and Washing­ this point. in Central America. ton, a senior Israeli official said Wednesday. The official said Hussein would probably crystallize A delegation of Palestinians would be part of the Jor­ his position only after the Nov. 8 Arab summit confer­ U.N. in Central America: AUN. peacekeeping danian delegation under this plan. Syria would also be ence in Amman, when he will have the opportunity to team is to be sent to Central America to determine invited to have direct talks with Israel separately under discuss the proposal with Syria and other key Arab na­ how the organization can monitor compliance with the same Soviet-American sponsorship, the Israeli offi­ tions. The king is not expected to agree to any alterna­ the agreement signed by the presidents of five cial said. tive to an international conference without the consent countries in the region. This negotiating format differs in some respects from ofthe Syrians and moderate Arab nations such as Egypt Banks recall loans: Banks have been recalling the earlier idea for an international peace conference to and Saudi Arabia. loans they made to stockbrokers or demanding more be attended by Israel, Egypt, Syria, Jordan and Pales­ The Soviet position will probably be made clear only collateral amid the turmoil in the stock markets, but tinians, plus the five permanent members ofthe United after the meeting between President Reagan and Mik­ many banks are benefiting from major new invest­ Nations Security Council. hail Gorbachev, the Soviet leader, expected later this ments in their insured certificates of deposit. The new plan differs from the earlier idea by the em­ year. phasis on direct talks between Israel and the Arabs, and Nonetheless, the proposal has become the focus of Some aliens given amnesty: Some illegal by the limitation on the number of Security Council per­ much diplomatic activity in the last few days and repre­ aliens may be allowed to stay in the United States if manent members present. The United States and the sents a potential opening in a peace process that has they have immediate relatives who qualify for am­ Soviet Union were the co-chairmen of the 1973 Geneva recently been deadlocked. nesty under the new immigration law, the Reagan Middle East peace conference, which broke up after a After leaving Israel on Monday, Shultz briefed Egyp­ administration announced.
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