Reno Gazette-Journal from Reno, Nevada • Page 31

Reno Gazette-Journal Thursday, August 1, 19853C State ousts bond consultant 'Banner year' for investments June 30 compared to $225.5 million at the same point in 1984. The treasurer also said the ratio of idle state funds invested within Nevada on a short-term basis has shifted from 59 percent last March to 48 percent in June. The rest of the money was invested out-of-state. However, Cafferata said she is trying to keep more money within the state and hopes to increase the amount of state investments. CARSON CITY (UPI) The state Board of Examiners Wednesday jettisoned its longtime bond consultant and instead hired Merrill Lynch Capital Securities to handle the sale of $16.5 million in bonds to build the South Fork Dam in Elko County.

The board traditionally has allowed Burrow-Smith to handle the bond business but state Budget Director William Bible suggested bids be sought. Merrill Lynch of Beverly Hills, offered to do the job for some $19,000 while Prudential-Bache Securities, which took over Burrows-Smith, pegged its price at $34,000. CARSON CITY (AP) Nevada is getting a lower interest rate on its investments but the interest earned in fiscal 1984-85 hit a "banner-year" total of $24 million, state Treasurer Patty Cafferata said Wednesday. Cafferata told the state Board of A key reason for the increase in interest on idle state funds invested by the Treasurer's Office is that the portfolio of invested funds is "way up," Cafferata said. She noted that the investments totaled $310.1 million as of last Finance the interest yield as of June 30 averaged 8.9 percent, compared to 10.8 percent at the same point a year earlier.

But the $24 million in interest for the fiscal year compares with $18.9 million for the prior fiscal period, she added. Landmark Hotel seeks Chapter 1 1 protection I 0 man Bart Jacka said Morris has kept the state appraised of his actions and said the casino cage has a "satisfactory" bankroll. Morris has been negotiating a $28 million bank loan for the resort to finance improvements and fire safety retrofit work at the 31-story hotel. Clark County officials say they are considering action against the resort because it has failed to comply with fire safety standards. According to the filing, the Landmark has debts of $30.6 million and assets of $28.6 million.

Two weeks ago, a soccer team Morris owned 35 percent of, the Las Vegas Americans, was dropped from the Major Indoor Soccer League for failing to keep up with financial obligations. The Landmark has been financially troubled since it opened in 1969. Morris bought it in October 1983 for $20 million. LAS VEGAS (AP) The Landmark Hotel filed for protection under federal bankruptcy laws Wednesday, two days after the Internal Revenue Service filed a $2.1 million lien against the property. The lien was reportedly filed Monday because owner Bill "Wildcat" Morris has failed to pay payroll and withholding taxes for his employees for the past six months, a Las Vegas newspaper reported.

Filing for reorganization under Chapter 11 of the federal bankruptcy code prevents the IRS from seizing any assets from the resort, including cash from the casino cage, to satisfy the lien. Morris refused to make any statement Wednesday but called a news conference for Thursday morning to discuss his plans. The resort is open despite the action, and state officials said it has enough money to keep the casino going. Gaming Control Board Chair 2-PANT VESTED WOOL SUITS BY DOMINIC D'BRUZZI IN BEAUTIFUL PLAIDS, HERRINGBONES OR SOLID COLOR SHARKSKIN WORSTEDS Reno population declines REGULARLY $375 FINE PURE WOOL WORSTEDS METICULOUS ATTENTION TO DETAIL TWO PAIR OF PANTS TO GIVE YOU DOUBLE THE WEAR JACKET HAS FULL LINING PANT CUFFS ARE FREE, CHARGE FOR OTHER ALTERATIONS MEAD0W00D MALL, RENO Grose said that until several current new casino proposals, the industry had remained "rather flat," allowing the population to level off with the decrease in new jobs. Of the 176 cities with more than 100,000 people, Reno was 162 on the list in mid-1984, dropping from 151 in 1982.

Las Vegas was 79, according to figures released Tuesday. The two years saw such cities as Fullerton, Ontario and Pomona, and Boise, Idaho, all surpass Reno in population while Las Vegas inched above Grand Rapids, Riverside, and Dayton, Ohio. No. 1 on the list was New York City, with a population of 7,164,742, followed by Los Angeles, Chicago, Houston, Philadelphia, Detroit, Dallas, San Diego, Phoenix, and San Antonio, Texas. The Associated Press The recession of the early 1980s brought Reno's boom years to a halt, dropping the city's population by slightly more than 1,000, according to Census Bureau estimates.

While Las Vegas continued to grow slightly from July 1, 1982, through July 1 of last year, Reno's population declined from 106,748 to 105,615, signaling an end to the sudden growth spurt that began in the late 1970s. Las Vegas saw an increase from 179,587 to 183,227 during the same period. Andy Grose, director of the Nevada Commission on Economic Development, said the 1982 census came "right at the tail end of a casino boom," which could account for the drop in population by 1984. "An awful lot of people without jobs came to Reno in the late 1970s during the casino boom," he said. "But of course that boom evaporated by 1981." Documents to be released "Direct To You Savings I fHS i Tremendous New Selection All of the information expected to be made public by Watkins has already been available in press releases, said Roff.

The county has never objected to releasing it, she added. Shanks, 42, resigned March 7 after learning he was the subject of a child molestation investigation by his own department. He was not charged with criminal child molestation because Plumas District Attorney Gary Fry determined that the alleged incidents took place seven or eight years earlier. California law requires prosecution of child molestation cases within six years of the alleged event. QUINCY, Calif.

Feather Publishing Co. won the right to review parts of a sheriff's department investigation of former Plumas County Sheriff Ken Shanks on allegations of sexual child abuse. Superior Court Judge Noel Wat-kins ruled Wednesday that the company, with six newspapers in Plumas and Lassen counties, is entitled to portions of the two-week investigative report which was closed to the public in March by Plumas County Counsel Susan Roff. Watkins is expected to disclose the dates of the alleged abuse incidents, which county departments received the complaint, and when the reports were made that prompted the investigation. 4" pots Reg.

.98 6 Pack Trays Reg. 1.98 Giant Selection fi Reno mayor apologizes for comment Martha Washington fx iwMm, tantana Fresh selection direct from rti Springtime's acres of roses. The long-blooming bush flilW Brilliant clusters of I V'-wvf-r blossom. It loves the Your choice of many popular varieties and colors! 1 gal. Reg.

3.98 I Geranium witn me Azaiea-ime Brilliant summer color! summer heat. Plant now and save! allow apartments or condominiums. The city planning staff recommended approval of the proposal and the Planning Commission denied the rezoning on a 3-3 vote. The proposal was also denied by the City Council. "Your comment was unfair and rude and damaging to my personal and professional reputation," Simons complained in a letter to the mayor.

He called the comment "grossly inappropriate." Simon said Wednesday he accepts the mayor's apology. TO Reno Mayor Pete Sferrazza has apologized for a comment he made to a real estate developer last month that termed the developer's zoning request the "worst example of greed" the mayor has seen at the council table. The remark, which appeared in the July 15 Gazette-Journal, was made July 7 to Reno Realtor William Simons, owner of Calvada Real Estate Corp. and developer of the Suncrest subdivision near McQueen High School. Simons was seeking to rezone 13 acres east of Robb Drive from single-family and park zoning to 1 qal.

Reg. 2.98 Reg. i I Ci I it y' Bush "Santa Cruz" Asiatic I Dwarf Boxleaf Twisted Juniper Leylandi Cypress Yellow flowering Trumpet Vine your choice 5 gal. Values to 12.98 Bryan names new state welfare director 'ft HrVK Greenleaf Keg. 3.9B Mrs.

Ryan also served as deputy director of the Office of Community Services from 1977 to 1979, and also worked as state energy coordinator for the office in 1976. She's a graduate of the University of Nevada-Reno with a degree in political science and public administration. CARSON CITY (AP) Linda Ryan, who has been running the state Office of Community Services since 1979, was named Wednesday by Gov. Richard Bryan as state welfare director. Mrs.

Ryan takes over the job paying $49,978 yearly from Sharon Murphy who has left state service to go into private industry work. 5 gal. Reg. 9.98 i' Save over A.00 hiro 3 killed in Las Vegas-area traffic accidents Our Service Record! Open 8 to 6 8 to 5 Sun. Call 322-5911 Sale Prices Thru 87 2nd STREET -fe MGM- 5 HOTEL I MILL STRE7 E.

PLUMB STREET We now have served over 75,000 satisfied customers in the Reno area by "Greening our community" with over 500,000 Plants! Thank You For Your Support! McKenzie "Ken" Cook, President VISA she was driving was struck from behind by another vehicle. Police said the driver of the other car, David Roseborough, 27, was booked for investigation of felony drunken driving. And a 22-year-old Las Vegas man died when his motorcycle went off the road in the Sandy Valley area. Roy Henson died at Valley Hospital about two hours after the 8 a.m. accident.

Police said Henson was traveling at a high rate of speed when he failed to make a right turn and landed in a ditch. LAS VEGAS (AP) Three people were killed Tuesday in unrelated traffic accidents. A 9-year-old boy was killed when he was struck by a pickup truck as he crossed a busy street on the city's west side. Gino Hansen Christopher was pronounced dead on arrival at Southern Nevada Memorial Hospital. Metro police said the driver of the pickup, Louise Quillan, 42, was changing lanes when she struck the youth.

Valerie Rae Lynch, 28, was killed early Tuesday when the car 2590 E. 2nd St. at North Entrance to MGM Hotel 1.