Columbia Missourian Newspaper 1984-11-22

              A couple of nuts mL'A I
University students Jon Bj& LLJ B
Brownfield and Alan Kennedy Wifi 1
get people to shell out bucks SPKL'i Js! 5
for pecans. Learn how they "" & " SN: wi
jumped from selling grass- -
v JL. jp- - i
hoppers to nuts in today's f, BR, r" r. r 0
crack article on pecans in vs 1 T"
Food, Page 1B. 4l JT
76th Year No. 60 Good Morning! It's Thursday, November 22, 1984 10 Sections 70 Pages 25 Cents
!
Early stuffing
Thanksgiving came a day early for some youngsters in Co-lumbia
Public Schools. At Rock Bridge Elementary School,
first- grad- e teacher Judy Dqnney tells Evan Brightwel! where
LQ Pittarson
the serving line begins. Below from left, Sofie Westblom,
Stacey Halterman and Annie Roller enjoy a pilgrim's feast at
John Ridgeway School.
I i ii M i
LuAnn Brendtan
gluttony sans guilt
By Jim McDonald
Missourlan staff writer
" Beware of those foods that
tempt you to eat when you are not
hungry and those liquors that
tempt you to drink when you are
notthirsty."
Socrates, 399 B. C.
As we all travel home for
Thanksgiving, there probably
won't be any tributes to abstinence
by ancient philosophers dancing in
our heads.
On the opening day of eggnog
season, thoughts are more likely to
embrace a glazed turkey with mo-ist,
seasoned stuffing, melted but-ter
coursing down mounds of
smouldering mashed potatos and
baskets fulTof steaming rolls, and
pies everywhere: cream pies, pe-can
pies, sweet- potat- o pies, the all- -
Amencan apple pie and the all- Thanksgi-ving
pumpkin pie with
real whipped cream.
And instead of arousing guilt
complexes in this age of fashiona-ble
malnounshment, these
thoughts will unashamedly stimu-late
nothing more than salivary 8
glands because for one day,
Thanksgiving, it's our civic and pa-- I
tnouc duty to consume.
And consume we will, and mostly
all in one sitting. It will go some-thing
like this:
" I've had enough. I'm full."
" But look at those moist slices of
white meat. Put some gravy on
them."
" That's it, I'm dying."
" The crust on this pie is home-made
and the whipped cream is
See NO, Page ISA
Byline by Stewart gf I
After 18 years in front of the J8Hf I
media, Missouri basketball f liiF l I
Coach Norm Stewart tries life fcc sliPL on the other side today with Sgif igtf'' '"" tfwEr S
the debute of a weekly col- - SfMF V ' j
umn in the Missounan. For IgSfi "
basketball insights, see SlfflRI .. SBJl 1
Sports, Page 11 A OmkSM,
Day opens with traditional parade
United Press International
Americans throughout the nation
donated food Wednesday so the
needy could enloy Thanksgiving,
which millions of people will begin
by watching Donald Duck Scat
over New York City in the tradi- tJonalpara- de
down Broadway.
White President , Reagan cele-brates
the holiday at his California
ranch, same 1,000 homeless people
will be served - f- ull- course turkey
dWnefls ' in Lafayette Square,
across fee street from the White
House. .
The dinners were prepared by a
groapl organized by Mitch Snyder,
who several weeks ago ended a 51- -
,, ,, ' .'' Ml : JL
day hunger strike to demand gov-ernment
aid for a shelter for Wash-ington's
street people.
Reagan intervened when Snyd-er's
health deteriorated.
" Macy's 58th annual Thanksgiv-ing
Day parade, was scheduled to
begin Thursday at 8 a. m. CST in
New York City and an estimated 55
million Americans were expected
to watch the event in person and on
television. ,
Hundreds of Macy's employees
-- Wednesday put the finishing
touches on tie eight- stor- y high
floats of Donald Duck, Garfield,
Kermit the Frog, Superman,
Woody Wocdpecker, and Underdog,
which will weave their way above
Broadway.
Food donations were collected by
groups throughout the country, in-cluding
the Paradise and Adam
and Eve modeling studios in Wash-ington's
red light district
A sign in the picture window of
the Paradise, where scantily- cla- d
women often dance to lure clients,
ask3 for " canned goods for the
homeless."
In Boston, the city's largest shel-ter
expected to serve traditional
turkey dinners.
About 300 volunteers, some
whole families with young children
who have made the event a holiday
tradition, were expected to spend
i
ft'
their Thanksgiving serving Bos- ton'sjieed- y.
In Augusta, Maine, junior high
school students took the afternoon
off Wednesday to deliver food to
families unable to afford the tradi-tional
holiday feast
In Denver, some 100,000 people,
twice as many as last year, were
expected to eat holiday meals dur-ing
Daddy Brace's annual Thanks-giving
feed.
The free Thanksgiving dinner
put on by ( Daddy) Bruce Randolph
Sr., 84, has been a tradition for 20
years.
hi Weirton, W. Va., workers at
Weirton Steel, the nation's largest
employee- owne- d company on the
verge of bankruptcy this time last
year, planned to celebrate by help-ing
others.
r
STATE HISTORICAL SOCIETY
1012 LOWRY VUC
COLWDIA, no. WW) 1 Jj
Marcos' malaise i$ Kte B
Imelda Marcos says her hus- - L . , I
band, Ferdinand, president of - ; I
the Philippines, is not sick ' ' ' I
but " just resting." Marcos ' - , I
has been out of public view x& j j I
for eight days and was ru- - V B
mored to have had surgery. ',
See story on Page 8A. I
From our wire services
WASHINGTON - Consumer
pnces rose a modest 0.4 percent m
October, the government said
Wednesday, and the Federal Re-serve
Board apparently reacting
to the sharp economic slowdown
cut the interest rate it charges finan-cial
institutions.
The drop in the discount rate from
9 percent to 8.5 percent, effective im-mediately,
came as the government
reported inflation for the year so far
at 4.2 percent, while new orders to
factories for durable goods declined
sharply.
The two reports continued to show
an economy enjoying low inflation
but undergoing a widespread slow-down,
which has affected industrial
production, housing and retail sales.
The cut in the discount rate, as it is
known, confirmed a shift toward
lower interest rates because of the
abrupt slowdown in the economy.
The vote was 7 to 0 for the step to
" eB5F" rw& ra move that" &. the central bank, including Treasury
Secretary Donald T. Regan, have
been clamoring for since before the
Nov. 6 elections. The change was ef-fective
Wednesday.
It was the first cut in the central
bank's key lending rate since De-cember
1982, when the business ex-pansion
was starting. The reduction
appeared to be an acknowledgement
by the Federal Reserve's Board of
Governors that the weakening of the
economy had become a much more
urgent problem than fighting infla-tion,
which has been running at an
annual rate of 4 percent or a little
more.
In a typically unadorned
statement of its reasons, the board
declared: " The reduction was taken
against the background of growth in
M-- l and M-- 2 in the lower part of the
desired ranges and in the context of
distinct moderation in the pace of
business expansion, of relative sta-bility
in producer and commodity
prices in recent months, of the re-strained
trend of wages and costs
and of the continued strength of the
dollar internationally." M- - l and M-- 2
are measures of the nation's money
supply
The discount rate is the interest
rate that the 12 regional Federal Re-serve
banks charge on loans to
member financial institutions. How-ever,
such borrowing accounts for a
small fraction of the institutions'
funds, and the importance of the dis-count
rate is more symbolic than di-rect
Thus while the discount rate is a
benchmark for interest rates in gen-eral,
Wednesday's action is not ex-pected
to drive down the rates paid
by consumers on installment and
mortgage loans directly or immedi-ately.
Nonetheless, the rate cut was
widely regarded as confirming the
Fed's desire to ease monetary policv
further to counter the rapid slowing
of economic growth On Tuesday,
the government reported that the
economy grew at an annual rate of
just 1.9 percent m the third quarter,
far below the 8 percent rate in the
firsthalf of the year.
Many economists and some ad-ministration
officials have com-plained
recently that the Federal
Reserve has been holding too tight a
gnp on credit in the face of a signifi-cant
decline in market interest rates
siflcetfcasummer."
Expectations of a cut m the dis-count
rate have been growing since ,
another key rate, that for federal
funds, fell below 9 percent this
week. The federal funds rate is the
market rate that commercial banks
charge each other on overnight
loans. Such borrowings are an alter-native
to borrowing at the Federal
Reserve's discount " window."
Nonetheless, there were some ana-lysts
who believed the Federal Re-serve
would wait a bit longer to cut
its rate while it studied the effects of
a moderate easing of credit policy in
September.
Analysts said Wednesday's action
would be reflected promptly in a fur-ther
decline in the dollar's value in
the currency markets from its re-cent
extraordinarily high levels And
indeed m late trading Wednesday,
the dollar retreated as news of the
rate cut reached the market
The October rise in consumer
pnces, reported by the Labor De-partment,
was the same as in Sep-tember.
Inflation at the consumer
level has run at a seasonally adjust-ed
annual rate of 4 2 percent for the
first 10 months of the year more
than the 3.8 percent for all of last
year, but much less than the peak of
12.8 percent in 1979. The Fed's dis-count
rate had been at 9 percent
since April.
New York Tlmoa
WASHINGTON - The Federal
Communications Commission
Wednesday ordered American Tele-phone
and Telegraph and its former
operating companies to reduce inter-state
long- distanc- e rates and other
charges by $ 178.2 million next year.
The FCC's order grew out of a
staff finding that AT& T's 1978 reve-nues
exceeded by $ 101 million the 10
percent rate of return on interstate
services allowed by the commission.
The difference between $ 101 million
and $ 178.2 million represents accu-mulated
interest on the 1978 over-charges.
AT& T said its total Bell
System interstate revenues in 1978
were $ 12.9 billion.
Of the $ 178.2 million, $ 48.1 million
would be returned by AT& T to long-distance
customers through reduced
interstate charges. The rest, $ 130.1
million, would be given up by the lo-cal
operating companies now in-dependent
of AT& T in the form of
lower hookup charges paid by AT& T
and other interstate carriers, such
as MQ and Sprint The FCC order
did not require the ncn- AT&- T car--'
riers to pass through the reductions
in hookup charges to their own sub-scribers,
but competitive pressures
. might cause them to do so. ,
i
The FCC decision could reduce
household and business telephone
bills by as little as $ 2 to as much as
$ 200 for users who make many inter-state
calls, according to the Tele-communications
Research and Ac-tion
Center, a consumer group that
initiated the legal action resulting m
Wednesday's commission order.
Under the order, AT& T has broad i
discretion to determine how the rate J
reduction would be designed. 1
The operating companies were di- -
vested by AT& T last Jan. 1. The :
companies such as NYNEX, were
covered by the order because, as
Bell subsidiaries, they received a
fraction of Bell's interstate reve-nues.
Under the order, the reductions
must go into effect no later than
June 1, 1985, and will lapse when
they reach the $ 178 .2 million total.
An AT& T representative said
there was a good possibility that the
company would petition the commis-sion
to reconsider its order, the sec-ond
this year by the FCC involving
long- distan- ce charges.
In May, the commission ordered a
6.1 percent, or $ 350 million, reduc-tion
by AT& T for message toll
charges and access charges for wide
area telephone service, or WATS
lines, which took effect in June.