20 MANCUKSTKH HKKAl.I), Tuesdiiy, July 31, 1984 BUSINESS Northeast needs economic boost ;4" Zinsser rebuts charges state Democrats’ ‘unity’ Business U.S. athietes by citizen action group doesn’t prevent a brawi find good times In Brief Rail improvements urged in region ... page 3 ... opinion, page 6 ... page 10 Travelers profits decline m capabiDly ol moving huge numbers of HAHTFORD - Thu Travelers Corp. has NASHVILLE. Tenn. (UPI) - New planning to improve our rail system in life into intercity rail services. people quiekly." (Jnrnihy said. reported operating profits of $76 6 million for the England governors must explore new the Northeast corridor is now. many He said Japane.se National Railway, methods of renovating the region’s (iarrahy’s ri-marks came at the years before our existing systems experienced in super high-speed rail seeond quarter of 19B4. down from $79.2 million National Governors' Assoc iation's 76th for the same period last year railroads if the Northeast is to maintain begin to fail. " Garrahy said. "If we technologies, has appraoched CONEG its economic stronghold. Rhode Island annual meeting, where the executives wait, it will be too late," he said with a proposal to study the feasibility Profits of $14$ million for the first six months of gathered to diseiiss issues ranging 1984 compared with $155.2 million last year as (iov .1 Joseph Garrahy says. Garrahy said that new Census of utilizing its technologies in the Muggy tonight; "The continued growth and vitality from transportation and energy to Bureau figures show Los Angles has Northeastern area. Manchester, Conn. gains in group business and individual life, health environment and c rime. and financial services were offset hy underwrit­ of the economics of the Northeastern replaced Chicago as the seconcl-largest Garrahy .said he has set a deadline of cloudy Thursday Wednesday, August 1,1984 states, and of the region as a whole, in city in the nation and that Hou.ston has December for the Japane.se National ing losses in casualty-property business, officials — See page 2 said Monday the twenty-first century, will depend The chairman of the transportation passed Philadelphia as the nation’s Railway report ;ind called for pursuit of Single copy: 254 committee of the (hialition of New Earnings per share for the second quarter and directly on the effectiveness and foUrth-largest city. similar studies efficiency of our transportation sys­ England Governors said Northeast air Six of the nation’s 10 largest cities — iiattrhpalpr fim lJi fir.st six months of this year also decreased He urged continued negotiations with compared with 198.9, falling from 95 cents to 91 tem , particularly rail," Garrahy said and rail services are reaching the point Los Angles, Houston, Dallas, San Diego officials from countries such as Can­ cents for the quarter and $1:85 to $1.73 for the Monday. ■ of being overtaxed. The one major Phoenix and Sun Antonio — are al-so in ada. West Germany and France and six-month period. "If our economies arc to remain transportation system that is unde­ the Southwest, the governor said. the Federal Rail Administration and "High levels of ciitastrophe losses for the competitive with the economies of the rused and can be expanded is rail, he Garrahy urged that transportation Amtrak to explore other ways of (second) quarter and the half curtailed earnings Sun Belt, and particularly the Southw­ said. and economic officials be summoned to upgrading rail .services. growth as well." said Edward H. Budd, chairman est, it is es.sential that we retain the "The time to liegin preliminary help the nation’s governors breath new Housing rehab and chief executive officer of the eompany. Hijackers free Travelers' revenues for the second quarter increased to $3.4 hillion from $3 hillion in 1983; In* premiums were $2.6 billion compared with $2.3 Weiss’s priority hillion; and investment income ro.se to $781 -Til million from $687 million. Rudd said. two passengers First-half revenues were $6.6 billion, up from endowments $6.1 billion for the same period last year, and for CD funds premiums were $5 1 billion compared with $4.8 By Steve Hooey AF-747 were reported in good condition billion in 1983. do poorly United Press International by Iranian and Air France officials as Bv Kathv Garmus At the end of the second quarter of 1984, Iranian Foreign Ministry officials tried Herald Reporter shareholders' equity was $3.1 billion. or$37.33pcr BEIRUT, Lebanon — Three young to conduct negotiations for their share, and assets rose to $34.1 billion. BOSTON (UPI) — University endow­ Arab sky pirates who hijacked an Air release. Housing rehabilitation for low- and moderate- ments at schools across New England France jetliner released two hostages The three hijackers demanded food income people would receive top priority if the town made a killing when the stock market today after forcing the plane to fly to and more fuel, Iranian authorities said. applies for a federal Community Development Block B/W Realty went soaring, but most bavcn’t been Iran but kept 58 other people captive, It was not known if they had issued any Grant, according to a list of proposed use of CDBG faring very well lately. the official Iranian news agency said. other demands. joins CofC funds prepared by General Manager Robert B. Weiss. "The two passengers, a woman and Officials said food and drinks, Endowment investments usually go Under the proposal, the town would apply (or B/W Really Inc., op­ from one market ph.ise to the next with her child who were ill. were led to the apparently the first full meal offered $130,000 for housing rehabilitation, $103,000 for erated by Barbara less volatility than other investment medical care unit” of Tehran’s Mehe- since the hijacking began, were served Weinberg, has joined funds. But with little exception, endow­ rabad Airport, the news agency IRN A to those inside the jetliner. sidewalk and drainage improvements, $75,000 (or the (irealer Manches­ ments that climbed by .50 percent or said in a statement monitored in Escorted to Tehran by Iranian parking and drainage improvements at the Senior Beirut. ter Chamber of more in the favorable 1982-1983 market fighter planes, the airliner landed at Citizens Center, $50,000 for an emergency shelter Commerce have performed poorly this year. IRMA did not identify the released Meherabad at 6:47 a.m. local time and program. $50,000 for construction of an elevator at the hostages and said only that they would The business luindles rolled to a stop almost out of sight of the Municipal Building and $40,000 for playground Many schools try to boo.st their receive the "necessary treatment.” terminal. Its engines were kept run­ improvements. The town would also request $20,000 residential and com­ < - endowments by diversifying portfolios There was no further word on the fate ning for hours, with the Iranians saying for administration of the program, making a total of mercial real estate It with more unlikely vehicles, including of the other 58 passengers and crew, it might fly to ‘‘an unknown y -iiU has been in operation venture capital, real estate and foreign nor was there any report on the destination.” $468,000 the town would apply for, according to Weiss' for 12 years. The corpo- investment. But pnidcnce still takes a progress of negotiations with the three A crewmember who vaulted off the proposai. r a t i o n h a s o n e commanding role in the investment Arab hijackers. An escaped crew­ jetliner during a brief stopover in Weiss said that amount is the maximum that could employee. process. member said the hijakcers were trying Larnaca, Cyprus, said the hijackers be allocated to Manchester during the next fiscal Its phone numbers "This is an actively managed busi­ to create "a state of panic" among the were armed with knives and possibly year. are 647-1419 :md 647- ness. but the returns are very impor­ hostages. explosives and had tried to terrorize The proposed use of the funds is scheduled for a public hearing before the Board of Directors on Aug. 1410. tant," said Walter Gavett, president of The Boeing 737’s dawn landing at those aboard the flight. the Harvard Managing Company, the Jr 1. Tehran’s Meherabad Airport was the 7. Mrs. Weinberg is "they were constantly trying to independent firm that runs Harvard Herald photos by Pinto latest of four stops on a 3,000-mile frighten the crew and passengers into a "Rather than go into it and ask ’What do you want?’ mayor of Manchester. Barbara Weinberg University’s $2.6 biilion endowment. ordeal that began Tuesday during a state of panic,” said an official Cypriot we thought we would go in with suggestions.” Weiss "W e like an active management role, flight from Frankfurt to Paris. government statement that quoted said. Firm pays $5,000 in scheme but in a reasonably prudent fashion” Condo work in progress All 55 passengers and five crew­ steward Daniel Egea, 30, the only The town has until the end of August to apply for a ’’Over a span (/I time, our fixed members aboard Air France Flight person to escape from the aircraft. CDBG grant, he said. The directors will also consider HARTFORD — .A New 'Vork collection agency obligations are much more defined Above, Don Levasseur of Vernon and Greg Bircheat of at their meeting whether to hold an advisory will pay the state $5,000 for trying to collect than those of most corporate pension Florida work on the roof of one of three buildings in referendum on re-entry into the program from which money from consumers who were mailed funds or foundations," said Paul progress at the Southfield Condominiums on South the town withdrew in 1979.