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BUSINESS Gunman Slays Four in Arkansas Shootout

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BUSINESS Gunman Slays Four in Arkansas Shootout 20 MAN( HF:STKH MKFtAU). Tufsclay, July 24, 1984 BUSINESS Cassano wins endorsemenn Tomatoes — bake ’em, Post 102 falls White House says good economic news isn’t over In 4th by acclamation cook ’em, can ’em ... to E. Hartford ... page 3 ... page 13 ... page 9 Bv Denis G. Gulino Treasury Secretary Donald Re­ Such questions reverberated He said he is sticking with his would raise taxes. growth, low inflation, lower inter­ United Press International gan summed up the broadened loudest on Wall Street, where the prediction that interest rates will “ There is no secret plan to raise est rates and no tax increases is optimism Monday, fulfilling an G N P report triggered enough start coming down "later this taxes in 1985," he said. " I don’t "an example of a very common WASHINGTON With optim­ election-year obligation he shares pessimism to drive down prices by summer” and the effect of the where that talk came from. I don’t mistake of extrapolating recent ism ri'liilorciHl hy stunning eco­ jWith Commerce Secretary Mal- 4.75 points. stronger-than-expected growth understand it. I ’m certainly not a performance,” private economist nomic giov^th ihe White tiouse •zcolm Baldrige to highlight every The Dow industrial average this year would benefit the deficit, participant in it," Regan said. Chimerine said. now secs lower interest rotes ond piece of good economic news. finished Monday at 1,0%.62. the although he did not know how However, Vice President George smoller defmts .dong with low The latest report hardly needed lowest level since 1,086.9 set June much. Bush, in an interview with United "Sure, the economy has been Cool tonight; inflotion in the yeor oheod - ond embellishment. The 7,5 percent 15. The GNP report saw prices Press International, refused to very strong recently," he said. Manchester, Conn. no need lor higher toxes pace of the second-quarter gross "When the marketplace really going up even less in the second rule out a tax increase. "But there are a number of Clouds Thursday However, the chonce of every­ Wednesday, July 25, 1984 national product’s growth, re­ realizes that inflation is staying quarter than in the first. "Wplti cross that bridge when we problems just beneath the surface — See page 2 thing getting better ot once is ported by the Commerce Depart­ down, they will look at it from that Regan repeated his skepticism get ffiere,” he said. “ People have that will eventually have .an Single copy: 25<i: "zero," occording to economist ment Monday, was so vigorous point of view rather than the fact about tax hikes in 1985, an underestimated the strength of adverse impact,” including the I.owrence Chimerine, heod of the that it prompted questions about that growth is bad and that is what administration posture rooted in recovery for a long tim e ... so we’ll overhanging unpaid debts of devel­ Chase Kconometrics analysis oping countries and the overvalued HanrhpBtrr Hrralh whether the economy could swal­ they are saying at this moment,” Democratic nominee Walter Mon­ have to wait and see on that.” firm. low so much demand. Regan said. dale's statement that Reagan But a scenario including steady dollar. VICTOR VICH Business Money markets • £ ***** Gunman slays four In Brief back on the rise * - ' '* ■ 36 / ^ ■►-I June housing permits down as loan rates up in Arkansas shootout t The miniber of building permits issued in June for new houses in Mnnehester declined substan- tiiilly from the previous month, according to BOSTON (U PI) — Money market funds that lost a HOT SPRINGS, Ark, (UPI) - A happen in our city,” Randall said. was holding hostages, cordonned figure.s provided hy the Building Department. lot of deposits while the stock market began to boom vengeful gunman wounded in a "Nothing in our city has ever off the motel. But after storming Knur hinlding permits were issued in June, are attracting the dollars back as interest rates climb police shootout managed to escape happened like this before." the lobby they found the gunman compared with II in May. over the 10 percent mark again. to a motel bar he had been thrown The violence started at about 6 dead with a bullet in the shoulder Overtill. tile department issued a total of 276 The Investment Company Institute, a mutual fund out of and began shooting people, p.m. when a policeman stopped the and a wound in the head, appar­ permits in May and 272 permits in June. The trade assocation, says there are now $179.75 billion in killing four and wounding another man and three companions on a ently from his own gun. permits were for a variety of work, including money market funds across the country. before shooting himself to death. routine traffic check, Motel employees told police the signs, certificates of occupancy and demolition. That figure stood at $165.5 billion at the beginning of A policeman and another man Police Sgt. Paul Jackson said the man had stayed at the motel last Sttitew ide. Ihe ntimlier of new housing permits the year and the funds most recently enjoyed were also wounded in the initial gunman opened fire, hitting Sgt. issued in June dropped 10.8 percent from the exchange of gunfire. Wayne Warwick several times. week and had been ejected from back-to-back weekly increases of more than $1 billion the bar after becoming drunk and previous month, s;iid Joseph E. Canale, commis­ each. Police said the gunman, whose Warwick returned fire, striking rowdy. They said he had left with a sioner of the (onneclicut Department of Housing. Growing yields are bringing in the money, much of name was not released, was found the gunman and one of his It is now clear that rising interest rates are vow to return and get even. The it from the stock market. Donoghue’s Money Fund in a corner of the Grand Central companions. 1.A' slowing liousing construction activity and I am Motor Lodge lounge with a bullet The companions fled on foot and bartender was among the dead, Report in Holliston last week said there was an police said. alraid this trend will continue throughout the increase in seven-day yields to 10.33 percent from wound in the head. A witness said were captured nearby, police said. remiiinder fo theyear. ’ t'iinalesaid in a prepared 10.21 percent. The average 30-day yield rise to 10.16 he had “ lost control and just The gunman then drove three Authorities said two women and statement. percent from 10.07 percent. started shooting at random.” blocks to the Grand Central Motor two men, including the gunman, Fi.xed rale morigtiges offered by Connecticut "The double digits I think do have a lot of impact," Mayor Jim Randall, noting the Lodge, went inside and began were pronounced dead on arrival hanks are ,iveraging about 15 percent with said Heidi Proctor, product manager for Fidelity killings at a California McDonald’s shooting. at Ouachita Memorial Hospital in variable rales ranging from 11 to 12 percent. last week that left 21 dead, said Jackson said the gunman killed Investments’ taxable money markets in Boston. "It Hot Springs. A fifth died while S. can sort of be wandering between 8 and 9 percent but that Hot Springs was stunned by one man who was apparently undergoing treatment. N once it hits 10 there is a bigger impact.” the deaths Tuesday. checking in and then shot three Warwick was in critical condi­ Unemployment claims up UPI photo Newspaper ads are showing up in increasing "You see this last week in others in the lounge. tion today at Saint Joseph Hospi­ The number of unemployment claims filed in California and think that it can’t Officers, thinking the gunman Senate majority leader Howard Baker of numbers promoting funds, though not nearly in the UPI photo tal, authorities said. Illinois (left) looks on. The Republican Manchester for Ihe two-week period ending July volume of the early 1980s, when yields reached into the Tennessee (right) talks to reporters leaders said that they do not expect 14 incre.ised liy about 16 percent from the high teens. ing the problems that led to his pie\ ions two weeks, iiccording to figures Richard Henzel, an actor, broadly Tuesday outside the White House after President Reagan to increase taxes, " I don’t think we’re quite at the point where we’re portrays former President Richard resignation could have been avoided meeting with President Reagan as released liy the slate Labor Department. screaming yield, but we are promoting it," Ms. U.S. rejects Vienna ground rules which Reagan implied he would not do The 1.124 cUiims filed during the period Proctor said. Nixon on the floor of the recent with a paper shredder. Henzel was House minority leader Bob Michel of at his news conference Tuesday night. represented a 16.7 percent increase over the 963 Banks, which attracted a lot of money in late 1982 convention of the National Office pushing GBC Shredmasters. By Jim Anderson official have publicly rejected any States for their failure. claims filed during the previous period. Of the and early the next year with accounts similar to United Press International preconditions. 1.124 claims. 224 were first-time claims and 900 Machine Dealers Association suggest­ A State Department spokesman money funds, generally aren’t competing with the Some State Department officials refused to say whether a Soviet were continued claims. funds for the new dollars. WASHINGTON - While the suggested maneuvering over a proposal to ban testing of space Sttitewide.
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