Uajytrftjiiwaa
2The Daily Tar HeelTuesday, March 20, 1984
gher prime lending rates may cool recovery
Mideast agreement reached
.ffi
The Associated Press
NEW YORK Banks raised their
prime lending rate Monday for the first
time since August, pushing the key
business-borrowing rate up one-half
point to 1 1 .5 percent - its highest level in
14 months.
Analysts were sharply divided on
whether the increase would be the first of
several, or whether rates would now level
off. Economists said a continued rise
would cool the economic recovery.
"There's little reason, in our opinion,
to think that the increase in the prime rate
will hamper the recovery," Larry
Speakes, President Reagan's spokesman,
said at the White House. "Nevertheless,
we want interest rates to come down."
As banks scrambled to match the one
half percentage point increase in the
prime rate, prices tumbled on the New
York Stock Exchange, with the Dow
Jones average of 30 industrials falling
12.98 points to close at 1,171:38.
The Associated Press
WASHINGTON Senate Majority
Leader Howard Baker said Monday that
a new inquiry involving White House
counselor Edwin Meese III "doesn't
help" his chances of being confirmed at
torney general, while one Democrat said
"it would take a miracle" to save Meese's
nomination.
But White House spokesman Larry
Speakes said President Reagan continues
to support Meese, his top policy adviser,
and "wishes he will be confirmed" when
the probe is ended. Speakes added that he
thought the president was willing to wait
several months for Meese's confirmation
if necessary.
March 20, 1984 Sales will come to a final close.
If you've been putting off calling ACT NOW!
Before it's good-bye great buy!
We would like to thank-you for making Kensington Trace
the fastest selling project in the state of North Carolina.
Also taking rental reservations for this fall,
but the list is growing daily
ii;t, ' 1 jtSAX i;)
so call
967 -
FETZER
Classified Info
Return ad and check or money order to the DTH
office by noon the business day before your ad is to
run. Ads must be prepaid.
Rates: 25 words or less
Students 92.00
Non-students $3.00 '
5 for each additional word
$1.00 more for boxed ad or boldface type
Please notify the DTH office immediately if there are
mistakes in your ad. We will be responsible for only
the first ad run.
announcements
KAPPA EPSILON OTC DRUG Fair Tuesday. March 20
Union Lobby Free Samples and Literature.
UNC STUDENT AUDIT BOARD Is ao
pHcatioa for poattioaa 19S4-19S5. Ptaaaa Mb-
salt ceasuM aad cove ltt to Boa IS, Carotiaa
Uio bv MomUv. April 2. If yo turn any
tJosa contact Caroline CockraB, 97-9322.
LADIES LOCKOUT RETURNS TO Purdys every Tuesday
until 10:00 pm. Ladies only with free admission and free
champagne. Guys admitted at 10:00 pm. Specials Include
penny draft. 50t wine and 50 specials for those 21 and over.
That's every Tuesday at Purdy's. Set you there!
INTERESTED IN BECOMING AN Aerobic Dance In
structor! Clinic offered March 23 & 24 or March 30 &
31. Registration deadline March 23. For more Informa
tion call days: Delaine 962-2021 evenings: Undsey
967-3182.
AiESEG
presents
Computer Communications
In Business
witrj:
Anne Witle Economics
Professor UNC
Mel Deener
Tc!o-Cdmmunications IBM
r.1AnCil21,8pni
FHiJontiirGpfc Ciiemlicr
lloiv East 4th Floor
The rise in the prime rate had been
widely expected because other interest
rates have been climbing in the open
market since the start of this year. The
speed of the banking industry's adoption
of a higher rate was a sign that "banks
don't think the increase in money-market .
rates will be reversed anytime soon," said
Maury Harris, senior financial economist
at Paine, Webber, Jackson & Curtis Inc.,
a New York investment house.
First National Bank of Chicago, the
nation's eighth-largest bank, led the
move to raise the prime rate to its highest
level since January 1983. Leading, banks
throughout the country quickly followed,
including Bank of America in San Fran
cisco, the nation's largest bank.'
Mortgage rates and other consumer
borrowing charges are not linked to the
prime, but changes in the key rate reflect
trends of interest rates overall. The prime
rate is the base upon which banks com
pute interest charges on short-term
business loans. Large, creditworthy bor
-Meese confirmation called difficult
The Justice Department is evaluating
whether a special prosecutor is needed to
probe an interest-free loan Meese receiv
ed and failed to report on his financial
disclosure forms. Baker said that if the
department calls for appointment of a
special prosecutor, hearings on Meese's
confirmation would be suspended for a
second time and this "would have a
damaging effect."
He added, however, that he did not
"think it's going to come to that."
Baker said he did not believe the in
quiry would have any immediate serious
effect on Meese's chances for confir
mation. Two other Democrats on the Judiciary
Committee said the Justice Department
KENSI
NGTON TRAC
now!
0044
GYM
9
TOMORROW NIGHT AT ELLIOTS Nest, the Fabmkms
Kaoba. Happy hour 8-9. Call 967-4273.
lost & found
LOST: FEMALE FERRET IN the vicinity of Hillsborough St.
if seen or found please call 929-3665 or 929-3303. Keep an
eye out please! REWARD offered. ,.
help wanted
18-30 YEAR OLD white males with respiratory colds and flu
are needed for paid research study at the US Environmental
Protection Agency, Chapel Hill. Subjects must be in good
general health. Smokers and non-smokers needed. Please
caD Dr. Robert Chapman or Dr. Robyn Tepper at 541-3804
(days): 942-3912 (nights). Please tdl your friends.
BLACK MALES BLACK FEMALES-$45 will
b paid to aaakhy aoMaoksn 1S-35, who
complete aa EPA breathing atndy on the UNC
caaipaa. Foe asora Info plaaaa call 966-1253,
Monday-Friday 8 an-5 pa.
CAMP COUNSELORS-OUTSTANDING SUM and Trim
Down Camps: Tennis, Dance, Slimnastics, WSI, Athletics,
NutritionDietetics. 20 . Separate girls' and boys' camps. 7
weeks. CAMP CAMELOT on COLLEGE CAMPUSES at
Mass.. Penn.. No. Carolina. Calif. Send resume: Michele
Friedman, Director, 947 Hewlett Dr., No. Woodmere. N.Y.
11581.516-3744)785.
S5HOUR WILL BE paid to haaHby noa
whit assies, aga 18-30, participating fas aa EPA
breathing study on the UNC caaspaa. Time coasnsit
ment asay iachula savan half days (5 hoara each) to
b contpiated before April 39. For mora information
plaaaa call 966-1253. Monday-Friday, am-5 pm.
Work in Britain
Work in Ireland
representatives will
be on campus
Tuesday, March 20
Information session at
4 pm in the Union.
Return all questions
to:
International Center
962-5661
rowers frequently borrow at below the
prime rate while small businesses typically
pay more than the prime rate.
The prime rate reached a record 21.5
percent in December 1980 and stood as
low as 10.5 percent between February and
August of 1983.
Economists attributed the rise in the
prime rate to increased demand for bor
rowing at a time when the growth con
tinues to exceed forecasts and when huge
federal deficits continue to make large
demands on the funds available in credit
markets.
The course of interest rates has been a
key guidepost for the economy in recent
years. Soaring interest rates led to the two
recessions since 1980, while falling rates
contributed to the recoveries.
As to what happens next,
"economic numbers are probably the key
to the whole thing," said Maria Fiorini
Ramirez, senior money market economist
at the New York investment firm of Mer
rill Lynch, Pierce, Fenner & Smith Inc.
should conduct more than just a technical
inquiry into whether a special prosecutor
is needed. Under the law, a final decision
on whether to name a special prosecutor
would be up to a panel of judges.
Sen. Howard Metzenbaum, D-Ohio,
Meese's major foe on the Judiciary panel,
said that if the department limited its pro
be to Meese's failure to disclose the
$15,000 loan on his financial report, it
would be a "totally inadequate" inves
tigation. "Anything dealing with special consi
deration for Mr. Meese should be looked
into," Metzenbaum said.
Sen. Joseph Biden, D-Del., the ranking
Democrat on , the panel, issued a state
ment saying he assumed the Justice
ON
All ads must be prepaid. Deadline: Classified ad must be
received by 12 (noon) one business day before publication.
Display classified ads must be received by 12 (noon) two
business days before publication.
HOUSEKEEPER NEEDED. BUSY. DISORGANIZED. 28
year old single male needs part-time help managing chores
in new four bedroom home. $5hour. 544-2551 (H),
549-3699 (O).
ASTHMA SUFFERERS EARN 175 in an EPA breathing
study on the UNC campus. To qualify you must be a white
non-smoking male, age 18-35 with currently active Asthma. '
For more information call 966-1253. Mon.-Fri., 8-5 pm.
TEST YOURSELF. CAN YOU manage your time produc
tively? Work 2-4 hrswk consistently? Are you success
oriented? Self-motivated? Marketing posbon available on
campus. 1-800-243-6706.
NOW HIRING STUDENTS FOR traffic monitor Jobs.
We have vacancies on Mon.. Wed., and Fri. 7:30
am-10:00 am and 10:00 am-12:00. Contact Jane Riley.
' 206 YMCA Bldg.. Campus or cafl 966-2684.
SPRING BREAK SUMMER JOB hunt prove disappointing.
Summer Jobs available. Resume experience travel, pay
average $320wk. Send name, local address, phone to:
Summer Work 84. Box 3455, Chapel Hill 27515.
WE NEED HEALTHY MALES 19-30 for 2 studies on alcohol
elimination. One requires a one day lab visit the other a 2
day lab visit requiring 8 to 10 hours drinking alcohol and giv
ing breath samples. Send name, address and phone number
to B.P. Crownover 1124 FLOB 231 H. Dept. of Phar
mocology, UNC Campus, Chapel Hill, NC 27514. Payment
upon completion of visit(s).
BABYSITTER WANTED TO CARE for 2 children in my
home on a regular part-time basis. Your hours may be mine!
Own transportation. Call 967-5815.
PERMANENT AND SUMMER JOBS
Math-Oriented Sophomores, Juniors and Seniors for
demanding. lucrative actuarial program in New York City.
Arrange in Career Planning Office for March 26th interview
with Equitable Life. Brochures available in Career Planning
Office.
seiVices
ABORTION TO 18 WEEKS. Private and confidential
GYN facility with Saturday and evening appointments
available. Pain medication given. Free Pregnancy Test.
942-0824 Chapel HiU.
ypr.rda-o I
March 13-18
Paul Green Theater
962-1121
jEncore Performance!
Sunday nite 7:00
Harris predicted the prime rate would
climb to a range of 14 percent to 15 per
cent in the next 12 months.
He said the economy has been learning
to cope with high interest rates because of
financial innovations such as adjustable
rate mortages and because of help from
generous tax breaks to businesses in re
cent years. So, he said, the momentum
built up in the economy should carry
growth at least through 1985.
David Jones, senior economist at the
government securities firm of Aubrey G.
Lanston & Co. Inc. in New York, said he
expected long-term interest rates would
climb, predicting the interest on mortgage
loans would approach 15 percent, up
about one-and-one-half percentage
points from current levels and reversing a
six-month decline.
Jones said such developments would
"cool the economy later this year," strik
ing first at housing and business spending
for expansion.
Department is looking into more than
just whether to recommend appointment
of a special prosecutor. n'
However, it was learned that the
Justice Department's initial planSjfor its
inquiry were narrowly focused ,'on the
loan and the purpose to which it was put.
Meese said the money was used to invest
in stocks for his children.
Meese immediately asked for, and got,
agreement from Senate Judiciary Com
mittee Chairman Strom Thurmond,
R-S.C, to have the hearings on his
nomination suspended. A second round
of testimony from Meese associates who
had been involved in loaning him money,
and who later got federal jobs, was set to
get under way Tuesday.
Support the
(XT) March of Dimes
V ansa birth afters foundation ami
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DAY, MAKCH
AMITY LSATGMATMCATGRE SEMINARS. Our guar
antee: score in top 25 or take next course free. Call now
toll-free, 800-243-4767 about summer and fall classes.
E.J. & COMPANY calendar is filling up fast for the rest of
the semester. Book your party now! Four hours of non-stop
jam for only $125.00. Call Andy Pittman at 967-8871.
COMPUTERIZED TYPING $1.25 PER page. Free correc
tion of typos. Rough draft, pick-up and delivery, other ser
vices available. Call 489-6896 or 489-7168 after 5 pm.
ALL CAMBRIDGE DIET PRODUCTS available. Call Gwen
Swanson 489-3523. . j-W
for rent
WILL SUBLET 1ST SUMMER session.Two-bedrom Caro
lina Apt 54-Bypass Carrboro on J bus route. Call 968-8220.
MUST SUBLEASE TWO BEDROOM apartment from May
July. On busline, less than two miles from campus. Will ac
cept nearly any offer. Call 968-1538 evenings.
HUGE TWO BEDROOM COLONY Apt. need someone to
take over lease mid May with option to renew In fall. On
busline. $370 month. Call 9294657.
LIVE AT CAROLINA APTS. this summer. Must sublet fur
nished two bedroom at reduced rates! AC. pool, laundry,
busline. CaB Rod 968-9481. CaB any time. ,
NEED A PLACE TO live this summer? Come to the TEP
house across from Morehead on Rosemary. Co-ed, full use
of facilities, janitor, AC available. Doubles and singles. Low
rates. Call Harold or Greg at 968-9007 or 942-8223.
SUMMER SUBLEASE: FEMALE ROOMMATE needed to
share bedroom in Kingswood apt. from May thru August
10th. May rent is free. Rent is $80.00 per month. Air condi
tioning and pool. Call Karen at 933-6365 or 933-0790.
SUBLET MY ONE BEDROOM apartment May-August
with option for next year. Five minute walk to campus. Rent
negotiable. 933-7402.
SPEND SUMMER SCHOOL WITH Tri-Sigma! Vi block
from campus on Franklin St., available first and second ses
sions. Room and utilities, air conditioning. Double rooms -$200,.
single rooms - S225sesskm. Deposit required. Call
.967-6001 after 5 pm. .
FOR SUMMER RENT MID-MAY to mid-Aug.. 2 bedroom
apartment, AC, pool, laundry facilities, on busline, furnish
ed. CaB 942-0759.
cakies (kakes) n J . enor
mous chocolate chip cookies
2. gift used to celebrate spe
cial occasions 3. custom
decorated 4. $6.25
112 W. Franklin Street
(beside Haagen-Dazs)
From Associated Press reports
LAUSANNE, Switzerland Leb
anese Christian and Moslem leaSers
apparently reached agreement Mon
day night on power-sharing plans.
Walid Jumblatt, chief of the Druse
militia, told reporters of the compro'
mise shortly before the delegation
leaders met in a formal session that
could wind up their reconciliation
talks.
Jumblatt said he was disappointed
with the proposed compromise. It
focuses on institutional reforms de
manded by the Moslem opposition
and on a declaration of intent to
strengthen the cease-fire reached at the
meeting in Lausanne last week,
Jumblatt said.
Illinois primary today
CHICAGO Walter Mondale
suggested Monday that Democratic
presidential rival Gary Hart may be
unable to control his own campaign,
while Hart accused Mondale of being
too quick to advocate use of American
military force.
The two made their final campaign
rounds in preparation for today's Il
linois primary.
The third contender, the Rev. Jesse
Jackson, conceded that it was difficult
to persuade white voters to support a
black candidate, but vowed he would
keep his challenge alive.
With 171 delegates to the national
convention at stake, Illinois is the big
gest trophy so far on the Democratic
calendar.
Smoking ban rejected
WASHINGTON The Civil
Aeronautics Board decided Monday it
was impractical to ban smoking on
airliners, leaving passengers free to
smoke as long as non-smokers are
provided separate seating.
j DM
JUU '3
Bring in this coupon and get a FREE T-shirt
when you buy any regularly priced athletic shoes
Open weeknights til 8 pm
UNIVERSITY SQUARE
(Next to Granville Towers
y 153 W; Franklin
942-1018
Classified ad may be placed at the DTH office or mailed to
the DTH Carolina Union 065A, Chapel Hill, NC 27514.
for sale
OXFORD BUTTON DOWN DUCK Shirts-19. Polo short
sleeves 14. Esprit & Beverly Hills Polo Club sweatshirts
$11. Regby shirts $15. Limited supply! Hurry for best selec
tion Randy 929-9556.
FOR SALE: TWO PANASONIC SB-750 5-way
speakers (10 " woofer, two tweeters and two midranges),
excellent value at $200 for the pair. Also smoked-glass
O'Sulltvan stereo cabinet $45. CaB Mark at 929-9741.
3BR MOBILE HOME IN Carrboro for sale by 3 graduating
students, l'i miles from campus on busline. Save on rent.
$6000 negotiable 967-2346.
roommates
LOOKING FOR NORTH MYRTLE Beach roommates for
large house Just off Ocean Blvd. The sooner the better,
deposit required. For more information caB Brenda at
967-3240.
WORKING IN NAGS HEAD this summer? Tm looking for
potential roommates, or someone with a place already. Give
me a cam WUl - 942-4354 keep trying!
1 AM LOOKING FOR two females to share an apartment for
this upcoming Fall Semester lh rent, Vi utilities. On bus line.
Cafl Karen W. at 967-8240.
ROOMMATES NEEDED FOR SUMMER: 1 or 2 places
available in air-conditioned furnished Kingswood Apt. on
busline. 2 can share a bedroom $87.25 utilities. CaB
929-3557.
NEED FEMALE ROOMMATES FOR condominium at Ken
sington Trace for fall semester. Advantages include: continus
shuttle bus, pool, tennis courts, etc. CaB Bobbi 933-1921.
NEED 2 NON-SMOKING FEMALES to share 2 bdr kings
wood Apt. for summer starting May 15 or June 1. $110 mo.
V utilities. CaB Corinne at 933-7132.
FEMALE ROOMMATE NEEDED FOR 2 bedroom Estes
Park apartment next fafl. Must be quiet, studious. $158 Vi
utilities, deposit. CaB Beverly 933-1771.
DID YOU AND YOUR roommate get closed out? Too bad.
Fret no more, however, because I have space available for
two non-smokers hi my Kingswood apartment starting In
May. CaB Bob at 967-5991.
FEMALE ROOMMATES) NEEDED NEXT fall. I have fur
niture, prefer Royal Pk, but am flexible. Would like own
room. CaB me! Lort 968-4348 after 5 pm.
TWO SEMI-STUDIOUS FEMALE roommates needed to
share nicely furnished Royal Park Apartment next fall. Rent
$103 each plus Vi utilities. CaB Sandy at 942-8182. Even
ings. rides
BOONF! HELP! I NEED a ride to ASU on Friday. Mar. h
23rd and back on Sunday. Please caD now! Thanks, Sara.
933-6538.
wanted
WANIID: A SITAR, OR information oil whtu li Rnd nw
Please caB GaU. 933-1677.
r
I
Nevs In Brief
The board voted 5-0 against a pro
posal that would have prohibited
smoking on any flight shorter than
two hours.
But the CAB agreeSto prohibit
smoking on small coriwiuter aircraft
of 30 or fewer seats.
Hunt ad debuts
RALEIGH Gov. Jim Hunt un
veiled a new campaign commercial
Monday that calls on Sen. Jesse
Helms to emerge from a "smoke
screen" of negative ads and discuss
the "real issues" in the U.S. Senate
race. .
Hunt, who is seeking Helms' Senate
seat, referred to a Helms commercial
that criticizes him for having a New
York campaign committee.
Hunt called the Helms ad "hypo
critical" because the Republican
senator raised at least 75 percent of his
money in 1983 outside North
Carolina. Helms said Monday that he
saw no problem with his out-of-state
contributions. " - "
Man charged in death
HICKORY A Hickory man was
held Monday on $50,000 bond after
being charged in the killing of a
Lenoir-Rhyne college student early
Sunday morning.
Dwayne Jonas, 24, was held in
Catawba County Jail after being
charged with the stabbing death of
David A., Moose II, 21, the captain of
the Lenoir-Rhyne football team, a
jailer said. Moose, a junior
linebacker, was a transfer student
from UNC.
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one T-shirt
per pair of shoes
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9:3 5 PM
musical instruments
SYNTHESIZER WORKSHOP - JOHN BO WEN. LA studio
musician (with Herbie Hancock, Billy Cobham . . . ), product
specialist with Sequential Circuits, and initial developer of
the Prophet-5, performs and demonstrates synthesizers,
DrumTrax and MIDI principles. Wed., March 21. 7:30 pm,
B&B Music. Eastgate, Chapel Hill, FREE. 968-4411.
business opportunity
OWN YOUR OWN .JEAN-Sportswear, Ladies Apparel,
Combination, Accessories, Large Size store. National
brands: Jordache. Chic. Lee. Levi. Vanderbttt, lzod. Gunne
'Sax; Esprit, Brittania. Calvin Klein, Sergio Valente; Evan
Picone, Claiborne, Members Only. Bill Blass. Organically
Grown, Healthtex, 300 others. $7,900 to $24,900. inventory,
airfare, training, fixtures, grand openigr, ate Mr Lough lin
(612)888-6555.
personals
NEED MONEY? TRIANGLE JEWELRY and Pawn, 750
East Chatham St., Cary off Highway 54 will loan money on
anything of value. Wt also buy class rings. CaB 469-1333.
GINA SINCLAIR, MIGHT AS weB JUMP (mais ou menos)
and Bang Your Head on your Twentieth birthday 'cause you
ain't no crichter. Love, Eddie.
HELP MB MY FATHER dies for an airline so I can fly
for free. I want someone (a girl would be nice) with the
same privileges to travel with. Interested? CaB Robert at
967-1069.
TO THE ZATE DRUMMER and guitarist. We heard you
Thursday night and we're beginning to enjoy your concerts!
Keep practicing! L and M. Granville East.
THE "FRISCO KID" RETURNS! See this terrific comedy on
Sunday, March 23 at CarroB HaB In the business school for
Just $1. Two showings at 7 pm and 9:15 pm. A true Gene
Wilder - Harrison Ford classic! Sponsored by the HiUel
Foundation.
HERE IS THE ANSWER: PI Kapp Push-A-Thon. April 4th
Wheelchair Marathon Around Campus. Project Push: Play
units for The Severely Handicapped. Help A Kid, Get Involv
ed. CURT S. HOPE YOU had as good a time as I did at the
party Saturday night. Sorry I was too shy to continue the
conversation.lt was kin talking to you & 1 hope to see you
again Sharon.
TO GUY IN SEAT Xr-1 99 at M.C Coacart: Eajoyad oaa
brief conversation. Waat to talk aeeaa saosa? Baa
poad DTH. Girl ia X-107.
DONNA. HAPPY BIRTHDAY TO a very special person.
. Love. D.B. P.S. Bruce-summer 84 see you there)
YOUR DADDY SLEEPS IN Spencer.
THIS IS m Weary of thai winter weight? Shed those pounds
in time for summer sun! A COMPLETE 10-DAY DIET
PACKAGE. Developed by Dr. Hoffman (Consultant U.S.
Navy Nutrition Plan) Delicious, nutritious, easy-to-prepare
meals. Less than $2.20 per meaB CaB Brian 967-6519, Brent
967-4465.
TOMORROW NIGHT AT ELLIOT'S Nest, the FakwOoaa
, Happy hour 8-9. Call 967-4273.