The Galveston Daily News from Galveston, Texas • Page 14

A14 FRIDAY, NOVEMBER 14, 1997 GALVESTON COUNTY, TEXAS Mitchell damage reversed by court From staff reports THE WOODLANDS The Second Court of Appeals in Fort Worth announced Thursday it had reversed a $204 million damage award against a subsidiary of Mitchell Energy and Development Corp. THE WOODLANDS Plaintiffs in the case who included the Bartlett family, after which the case has been named alleged the company's oil and gas operations in Wise County had affected their water wells. The court handed down a "take-nothing" judgment. The court said most plaintiffs' claims were time-barred by statue of limitations and that the plaintiffs failed to prove that Mitchell Energy and Development's actions were the cause of their alleged damages. The appeals court ruling came 5M months- after another Wise County jury heard similar allegations by 17 other families and found the company was not responsible for their water quality problems.

Similar lawsuits have been brought by 29 other families, but one has been scheduled for trial. "We're certainly pleased by the appeal courtfs said George P. chairman and chief executive officer of Mitchell Energy and Development and a Galveston develr open These suits have been both distracting and costly." LC chamber recognizes 30 new members By STEVE MAYO The Daily News LEAGUE CITY About 30 new members of the North Galveston County Chamber of Commerce were recognized Thursday during the chamber's bimonthly social. LEAGUE CITY Every other month the chamber conducts what it calls a business blender to give local business people a chance to network with their hair down, said Stephen Owens, chamber president. This month's blender, which was at Founder's Square on Main Street, featured a presentation of plaques to the new members, most of which were League City's specialty stores on the square.

DJD. Rundell and her husband. Marion, lease the space to the businesses on the square. Rundell said the chamber approached her about conducting the blender there. "All of the business said, so it was really easy to say yes," Rundell said.

More than 75 business people attended Thursday night's blender, which included music provided by JAM Session and seafood from The Boat, a Webster seafood restaurant. Although the idea behind the blender violates the cardinal rule of never mixing business and pleasure, Owens said it was OK "If after hours," he said. The chamber will conduct its monthly luncheon at 11:30 a.m. Tuesday at the South Shore Harbour Country Club. Maggie Corcoran, coordinator for the Interfaith Caring Ministries in League City, will speak during the luncheon as part of a food drive for the ministry.

Greenspan to help calm market WASHINGTON Federal Reserve Chairman Alan Greenspan and the Clinton administration tried Thursday to soothe turbulent financial markets with a reassuring message about Southeast Asian currency ttijTaoil. By day's end, the stock market managed a partial recovery from Wednesday's 157-point tumble. The Dow Jones average of industrial stocks closed up 86 points at 7,488. At least so far, the sharp currency devaluations in countries such as Thailand, Indonesia and Malaysia have had only a modest impact in the United States, Greenspan and Deputy Treasury Secretary Lawrence Summers told the House Banking Committee. In fact, it could help the United States by inflation, Greenspan said, a day after Fed policy-makers voted to hold TJ.3.

interest rates steady. The financial disturbances tibat have afflicted a number of currencies in Asia do not at this point threaten prosperity in this country," he said, repeating testimony he delivered two weeks ago after the biggest one-day point loss in Wall Street history. Summers, the No. 2 official in the Treasury Department, said, "We do not foresee significant risk to United States financial institutions or to domestic financial stability as a'whole as a result of the turbulence to date." But both officials also stressed the risks of permitting spread to other nations particularly Japan andXJhina. "We aH have very strong concerns that the contagion that has occurred and the weakness be stabilized as quickly as possible," Greenspan said.

These contagion problems slow down overall worldwide economic growth, including bur own, and the sooner we can get them resolved the better." A Federal Reserve Board Chairman Alan Greenspan goes over Ms notes while testifying on Capttof HU! on Thursday before trie House Banking Committee hearing on the financial markets. (AP) At the same time, Greenspan played down disclosure by Chase Manhattan the nation's largest bank, that it lost $160 million before taxes from 'worldwide trading in Oc- However, he and Summers warned that reduced U.S. trade with Asia, over time, could hurt the United States. "Emerging Asia accounted for qnfr-fifth of our exports last-year a further 12 percent," Summers impact on our economy of a prolonged period of slower growth in Southeast is potentially significant." K-Marts going big time in area By STEVE MAYO The Daily News Beginning today, the county's two K-Mart locations will be known as Big K-Marts. The stores will celebrate the opening of their expanded stores today with ribbon-cutting ceremonies.

COUNTY The K-Marts in Texas City and Galveston underwent an expansion that all K-Mart stores soon will see. The expansion includes a limited grocery section that includes milk, eggs and bread, said Nout Van West, manager of the Texas City location. "People won't be able to do all their shopping, but they can get a few things," Van West said. The Texas City store also will include a cafe and little Caesar's Pizza counter, he said. The Texas City store moved into the building in the 3500 block of Palmer Highway after Ventitre went out of business.

Ribbon cutting Big K-Mart ribbon cutting, 7:30 a in GaJveston and a.m. in Texas City. "And we did the renovations in record time," Van West said, referring to the two months it took to make the transformation. The Galveston store took about 10 weeks to make the transition. Galveston store manager Paul Baxter said the renovation should make shopping more convenient.

"We've grouped the sporting good, automotive and hardware sections in the same area," Baxter said. That's sort of our men's Other alterations include wider shopping aisles and more staff. The overall shopping should be easier with the renovation," he said. IGNORE CHEST PAW AND IT'LL GO AWAY. American Heart Association WERE HGHT1NG FOR YOUR UFE OFF Dresses i Famous-maker fall suits, orig.

159.00-220.00, now 106.53-147.04; and dresses, orig. 70.00-160.00, now 46.90-107.20. OFF Ladies Designer Casual Sportswear In misses, petites Dillard's Woman sizes from America's favorite designer, a famous California designer and others. Orig. 38.00-168.00,,now 28.50-126.00.

OFF Famous Maker Handbags Including discontinued styles from a very famous maker. Orig. 40.00-275.00, now 30.00-206.25. mi Sportswear in casual or career styles, plus-tops, bottoms, and related separates. Ong.

18.00-74.00, now 12.06-49.58. Men's Corduroy Jeans Wide-leg, loose-fit favorites in cotton corduroy. Orig. 40.00, now 30.00. New fall fashions OFF Ladies Foundations Intimate fashions for days and evenings, from fambus makers and our exclusive brands.

Orig. 14.00-SO.OO, now 10.50-67.50. Girls 4-16 Boys 4-20 Sportswear Great wear-now tops and bottoms from famous makers and Diliard's-exclusive brands. Orig. 20.00-42.00, now 15.00-3150.

OFF Men's Activewear Get moving in these active separates from famous makers and our own Roundtree Yorke. Orig. 35.00-45.00, now 26.25-33.75. Selected styles. Selection varies by store.

All items subject to prior sale. Dillard's welcomes your Dfllard's charge, Visa, MasterCard, American Express, Discover or Diners Club card. SHOP MONDAY-SATURDAY, 10 A.M. TO 9 P.M.; SUNDAY, NOON TO 6 P.M. Mall Of The Mainland 409-986-7400 Baybrook Mall 7ia486-0700 Dillard's.