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t i - MANCHESTER HERALD, Saturday. Oct. 5, 1985 MANCHESTER BOLTON SPORTS WEATHER BUSINESS Marchers protest I I Bolton Day draws MHS football team Clear, cold tonight- MMH abortion policy Sam and Smokey drops third straight sunny on Tuesday Bond sales are brisk I I Business page 3 page 4 ... page 11 ... page 2 In Brief European currency catches Coffee consumption down By Mary Tobin tions as Reynolds Industries, IBM "These new warrants offer investors rate than in dollars. It swaps the LONDON — Promoters of coffee said Friday United Press International World Trade, Chrysler Finance and and corporations a unique and useful interest payments with a European that Americans not only drink less of it than GTE Finance. vehicle for hedging their currency company that wants ECUs but can before, but prefer soft drinks. NEW YORK — ’The European Cur Now Salomon Brothers International exposures,” Brittain said. "The fact borrow dollars at a cheaper rate. The The report by the London-based International rency Unit can’t be used to pay for a Ltd., with a recent issue of .150 million that ECU represents a basket of parties in the swap are responsible for Coffee Organization said ail age groups in the meal at a fancy French restaurant, but ECU ($117 million) warrants, makes it currencies diversifies the risk of the other’s interest payments. United States drink less coffee now, but the dealing in one currency.’ ’ ifflattrteatrr its growing role as an international possible f o r »»'" »i—•* time *" cpeculate — The ECU bonds have a secondary decline is sharpest in the 20-29 age group, based hedge if you will — in ECUs. Each market in which the West German Mmlh currency makes that dream of Euro The ECU basket, which has been ___ _________ * r \ ^ i on figures coilected in the winter of 1984-85. Manchester, Conn. — A City of Village Charm Monday, Oct. 7,1985 — Single copy: 25$ crats not as far-fetched as cynics once warrant entitles the holder to either a adjusted periodically, gives the largest Kredietbank estimates "a sizable tur It Said tea, soft drinks and fruit juices have thought. put or call on 10,000 ECUs. weight to the West German mark— 32.2 nover” considering its recent origin. gained from coffee’s decline, and 30.9 percent of The ECU, created as part of the The offering, oversubscribed, was percent, followed by the French franc, Americans now prefer tea compared with 24.7 European Monetary System launched upped to 200 million ECUs, with more 19.2 percent; British pound, 15.1 per Brittain maintains ECU warrants, percent in 1962. in March 1979 by European Common demand for call warrants, or options to cent; Dutch guilder 10.1 percent; which can only be offered in Europe, For soft drinks the rise was from 32.6 percent in Market countries, has its value set buy ECUs, than for puts, or options to are less risky than currencies, espe 1962 to 59.4 percent. Italian lira 9.8 percent; Belgian franc against a basket of member-country sell. cially when they are used to hedge other Americans who drink coffee consume 3.33 cups 8.2 percent; Danish krona 2.7 percent; Toll shutdown delayed by Hurricane Gloria currencies and is backed by a fund " I f you are buying only the call it Irish punt and Greek drachma 1.2 investments. a day, compared with 4.17 cups in 1962. Per supported by them. could mean that you look for the ECU to percent; and Luxembourg franc 0.3 capita, that amounts to 1.83 cups daily against Hedgers often are speculators by Although many at the time thought increase in value against the dollar, or percent. HARTFORD (AP) — Connecti and Public Safety Commissioner remaining booths should be gone "with blinking lights and radar like the governor did, to use drive through the toll plazas. 3.12, the organization said. another name and as with all specula the ECU would amount to little more that you think the dollar will strengthen cut Turnpike toll collections proba Lester J. Forst at which O’Neill and the plaza areas repaved by guns.” extreme caution” until the project “ They’ll be dancing in the A number of ECU-U.S. dollar swap tion there is risk. If the ECU does not than a bookkeeping oddity, roughly $10 and you want to hedge your portfolio of bly would have ceased last week decided traffic-control measures July 1,1986 — the original date set In the last two years alone there is completed. streets down there,” Gunther said. deals have been done. A U.S. corpora move enough to exercise the warrant, but Hurricane Gloria diverted Smflh elected vice chairman billion in ECU bonds have been sold U.S. securities,’’ said Bruce Brittain, could be taken by Wednesday. by the legislature in 1983. have been eight deaths at the "This is something we’ve been since the first one was offered in 1981, Salomon vice president and foreign tion that needs dollars, for example, or it moves in the opposite direction, the attention from the issue. Transpor "W e can’t celebrate until it Dr. Samuel G. Smith of Manchester was A 30 mph speed limit will be The legislature also had called Stratford toll plaza — the worst trying to do for a long, long time. including $1 billion by such corpora exchange product manager. can borrow in ECUs at a lower interest purchaser loses. tation Commissioner J. William actually happens,” she said. It’s time has come, that’s for recently elected vice chairman of the Connecticut strictly en forc^ for small vehicles for ending collections on Dec. 26, when seven people were killed Burns said. Toll booth critics praised sure.” section of Thr .American College of Obstetricians passing through the idled toll and last month the governot asked there in 1983. " I think without Hurricane Glo O’Neill’s decision without conced and GyP' cologists for a three-year term booths at the bridge, on Interstate Burns to speed that up. On ria the governor would have sought The tolls generate nearly $60 ing it was not long overdue. Several hundred toll workers beginning this month. 95 in Greenwich, South Norwalk, Saturday, the transportation com suspension of toll collections a million in gross annual revenue. “ For years the tolls have been have preference for state job Smith is in private practice in Manchester and Stratford, West Haven, and Bran missioner proposed Nov. 7 as the Tech selloff week ago," Bums said in an Because of them the highway ticking dynamite waiting to go openings, allowing them to retain is affiliated with the John Dempsey Hospital in ford, and on 1-395 in Montville and date of shutting the booths down, interview Sunday. "Obviously never received federal mainte off,” said Ms. Niedermeier. “ I ’m pensions and other benefits. Out of Farmington and the Manchester Memorial with the hurricane he didn’t have Plainfield. but O’Neill was not satisfied. nance dollars, but the toll removal 420 personnel, about 100 collectors Hospital. He is also a clinical associate professor very pleased with the decision. I time to consider anything else.” Then the two outermost booths at “ I directed Commissioner Bums will free up about $20 million a year have moved to the departments of of obstetrics and gynecology at the University of was surprised that he expedited 7 brings a loss Gov. William A. O’Neill ordered each plaza will be removed, in road funds from the federal Transportation and Motor Vehi Connecticut Medical Center. to end collections as soon as the date, and thought it was rather Saturday that collection of the allowing traffic to flow at near government, according to state cles or into the private sector. President of the Greater Hartford Ob/Gyn possible, consistent with the safety ironic because the original legisla 35-cent tolls be stopped at 11 p.m. normal speeds and clearing the Rep. Christine Niedermeier of Society, Smith also serves on the legislative of the motoring public,” O’Neill tion we worked on in 1983 called for Others wondered what they Wednesday at eight plazas on the way for construction of bypass said in a statement released by his Fairfield, the ranking Democrat ending tolls in October of 1985.” would be doing Thursday morning. committee of the Hartford County Medical in the market on the Transportation Committee. turnpike and at the Bissell Bridge lanes around the remaining office. Society, the Maternal Morbidity and Mortality State Sen. George L. Gunther, " I guess I j ust won ’ t ha ve a j ob, ” between Windsor and South booths. Bums said. Bums said his crews will be able Carlene Kulisch, whose group R-Stratford, a longtime opponent said a collector at the South CoiTimittee of the Connecticut State Medical Windsor. The bypass lanes are expected to NEW YORK (AP) — The stock market recorded a to install warning signs by Wednes Banish All Tolls lobbied since 1981 of the tolls, said O’Neill’s order will Norwalk tolls. “ I don’t know what Society and the Medical Advisory Committee of The directive followed a high- be completed by the second week Planned Parenthood of Connecticut. moderate loss Friday as sellers shifted their sights to day evening at all of the plazas and for removal of the booths, said she be welcome news for Stratford I ’m going to do. I know I’ll be doing level meeting that included Burns of November, he said, and the ..-.la efqfe police will be on station area residents and motorists who The national medical organization represents computer and technology issues.