Statesman Journal from Salem, Oregon • Page 10

11 ($. I) SUtisau, Sales, Sat, Jily 8, 72 Tourney Financier Operates Like a Chess Master He'll follow it in the papers. There's one thing even he can't afford the time. I intuition and analysis," he once said. Slater should know he's a chess fanatic who once was seen as a schoolboy champion.

Checks got the better of checkmate, but he still plays and gets his kicks subsidizing tournaments in Britain. He finds time to play on a chessboard in his office u- LONDON (AP) Jim Slater, the British financier who helped bankroll the Fischer-Spa ssky chess championship duel, built up a worldwide business empire with the skill of a chess master whittling away an opponent's defenses. "Chess and investment both require the same mixture of science and art, company a great deal bigger and that won't take long to do," he said. He is able to pile up profits of more than $30 million a year through his ability to scan pages of complex figures and grasp crucial points in a matter of minutes. "Looking at a page of figures is to me what listening to a concerto is to a musical person," Slater says.

"A mistake, or an opportunity or an exciting situation jumps right out and hits me in the eye, just as a wrong note or a well-played passage can be heard at once by a musician." Everyone from directors to doormen owns shares in his empire. He explains: "It makes them care more. It makes them dare more. coon spends Fridays working at home just so he can be with his family. Weekends he plays golf, swims in the pool at his home or plays chess.

He became hooked on the game when he was 11 and was soon playing against British champions. At 16, he stopped playing seriously to study accountancy. "The game was too time-consuming," he says. He sponsors an annual international tournament at the coastal resort of Hastings. He has bankrolled next year's world under-21 championships to encourage young players.

Now he's paid a small fortune for the most expensive chess game in history, but he won't be there to watch. They soon realize that calculated risk-taking is what business is all about." Like the chess masters he is bankrolling, he doesn't leave himself exposed if he can help it. He has insured his life for about $25 million, and his five directors each for a tenth as much, to give his empire a cash boost if he and his lieutenants die. Slater lives in a modest mansion he built in his bachelor days. He's married now and has two sons and two daughters.

He usually spends only three days a week in his office atop the skyscraper headquarters of his empire, near St. Paul's Cathedral. The son of a smalltime businessman who died when Slater was at school, the ty Pick Youngest in 40 Years sually against himself while he plots his next million. Slater, 43, put up 50,000 pounds or $120,000 to lure Bobby Fischer, the temperamental American chess king, to Reykjavik to play world champion Boris Spassky of the Soviet Union after the challenger complained the stakes weren't high enough. The multimillionaire said he just wanted to see the controversial game of the century take place.

That 50,000 pounds was the same amount of money Slater had when he quit his job as an auto corporation executive eight years ago. Within a year, Slater had wheeled and dealed that stake into a half million pounds. Today, he masterminds an investment empire worth more than $500 million on the stock exchange. He has a knack for spotting badly run companies with big potential, piling up strategic share holdings, taking them over and transforming them into profit-making concerns. So far, Slater has notched about 20 corporate scalps with almost casual ease and left old pros of London's financial district open-mouthed in wonder and waiting for a big fall.

But soft-spoken Slater is not fazed by the prophecies of doom. "I mean to be around for a long time and make this Air Commuters Face followed, would be next in line for the presidency. President Lee succeeds President Joseph Fielding Smith, 95, who died here Sunday of a heart attack. A former school principal, businessman and city commissioner, President Lee will be known as prophet, seer and revelator to three million Mormons throughout the world. The wavy-haired church leader sat at a table with his counselors and quoted scriptures in response to some of the questions from newsmen.

"The decision with respect to minorities has been given to us," he said. "To one who doesn't believe in revelation as we do, there would be no adequate reason." "We just stand by and wait until the Lord speaks," cerned, particularly about commuter airlines. These include such airlines as Pacific Southwest Airlines of California and the East Coast shuttle runs between Boston and New York." He said the President had directed John Shaffer, FAA administrator, to take measures as soon as possible that would assure 100 per cent inspection of all commuter passengers. The previous government regulations on this, he said, limited LLDCCE SIHlOW Drug Charge Is Dismissed A charge of criminal activity in drugs against Sandra Lee Yeater, 21, 384 17th St. SE, was dismissed Friday by Marion County Circuit Court, after the district attorney's office said she had been granted immunity.

She was among three persons arrested May 25 at 380 17th St. NE, where four pounds of marijuana was confiscated. The United States holds the balloon flight altitude record of 113,900 feet. Cut Hijacks San Francisco International Airport after FBI agents stormed the plane. Ehriichman said, in res- ponse to questions on the possibility of more stringent measures under consideration, that the administration and the Justice Department were reviewing the recent U.S.

Supreme Court decision on the death penalty "to study whether the death penalty could be applied in hijacking cases." UvJ he said, adding, "No church in existence has a greater feeling of kindness toward all minorities than this church." He said this includes the Negro race, the only one banned from the priesthood which all other active male Mormons hold from the age of 12. President Lee said the greatest message that could be given to members of the church is: "Keep the commandments of God, for therein lies the safety of the church and the safety of the individual." Mormons believe their church was established by Jesus Christ, removed from the earth after his death and restored in 1830 to Joseph Smith. WE'D hi -i if III 0 I UN NEWPORT BEACH, Calif. (AP) The federal aviation administrator is being directed to trim hijacking by instituting 100 per cent inspection procedures on all U.S. commuter airlines, John D.

Ehriichman, a top presidential adviser, announced Friday. Erhlichman told a gathering of Southern California editors and broadcasters: "The Presider has followed news of the recent hijackings and has been very con stock. oauiuji. Search to inspections to only 10 per cent of commuter travelers. While acknowledging possible delays in turnaround time and the ability to move passengers on schedule, Ehriichman said the new rules were essential.

Some 18 hijackings have occurred recently, including two in the past two days in California both PSA jetliners, he said. Three persons were killed two hijackers and a passenger, and two other passengers were wounded at fx Mai'chbacf: 1 1 1 1 c'. 1 ink Jm? i HAROLD B. LEE Mormons President' SALT LAKE CITY (AP) -lrrold B. Lee, 73, was named Friday as the 11th president of the Church of Jesus Christ of Latter-day Spts, the youngest Mormon president in 40 years.

President Lee was introduced at a news conference iCwhich he said the Mormon prjesthood's ban against Negroes cannot be explained to people "who do not believe iri revelation." "Elder Nathan Eldon Tanner," 74, was selected first counselor and Elder Marion Cw-Romney, 74, second counselor. Elder Romney is a cousin to George Rom-ngy, secretary of housing and urban development. Slider Spencer W. Kimball, 77 "succeeds President Lee asrftead of the Council of the Twelve and, if tradition is it 1 1 i 2 1 hill I (T '72 Tliundorbird Lanclay With everything factory air, vinyl Very bw miles. '72 Vcqa Eig savings cn a tie savsM Icy miles a 159 Brand New Chevys in 1 i yei four oesi aeei nuv; til '2 ivionte Carlo Just 1,403 niies, AT-PS U.R, Air mere i 2 Caprice "-Coup Brand New EI Carnino V-8, automatic, power steering, power front disc brakes, viny! roof, tilt steering wheel, tinted glass, etc.

1247 Brand Mew Impala Coupe Factory air conditioning, V8, automatic, power steering, front disc brakes, vinyl roof, comfortilt steering, white walls, and lots more. 1184 Save mors then S1CC0. Air, stereo, t'Jf wheel and more! '72 Ponfioc Grand Scf-ri Sta. Won. All power foct.

cend. Brand New-LUV Pickup kJ 36 Mo. Brond New Vega 2 Door kxJ A 36 Mo. Sale pries $1999 Down payment $169 Principal balance $1830 Financ Charg $329.28 Total of pymts $2159.28 APR 11.08 Df. pymt.

prico $3328.28 Sale price $2199 Down payment $189 Principal balance $2010 Finance charge $361.32 Total of pymts. $2371 .32 APR 11.08 Def. pymt. price 2561.32 Select cars and lowest prices 71 Cadillac El Dorado Lovely automobile with all the fine power assists, automatic heoting-oir conditioning, 57CQC yj roof. AM'FM radio much more I 033 70 Lincoln Continental Fine local sedan with ofl power, air condi- $OQC twning, vinyl roof, AM-FH radio and more.

ffaOw 70 CadillaC Sedan Elegant Oe Ville with all power assists, air conditioning, leather inferior, AM-FM radio, JJ 71 Pinto 2 Door 99 5 '71 rhflvv Nova It Vilcvy nOia 738 miles. It's great, $9AQ1 six with wtomotic 71 PontiaC Ventura 12,161 miles. Very dean, AQC six with outomatic LLVQ 70 Mustang Mach I V-8, automatic, power $OI OR steering. Nifty! QVQ 70 Fcrd Torino GT Super cori 4-speed, $OfiQf power steerinq 4,093 trucks with the of the year. 70 Mercury Montego MX Wagon Excellent inside out.

8, $Q70C automatic, power steering. 33 70 Dodge Dait CUStOITI 4 door, outomotk. $oiqc power steering ai4 WW 'JQ Olds 93 Hardtop Immoculote coupe with al power, oir con 5 ditioning, vinyl roof, stereo tape, etc wU3w Yeg3 Panel "ZtS. 1 995 70 Chevrolet Estate Wagon Here our Kin900' P0SJ- v-8- outomatic, power steering and air tioning! WaCtVW 'gg Cougar XR7 Very sharp. V-8, automatic, power SOCQC steering, air conditioning.

aaOwW '68 Chevelle Malibu SS nkei outomotk, sipnc power steeriig, vmyl roof I Ulw jgS7 ChOV iKBala -1. at-ps FAC AIR C0HD I HlJIW 8' EI Dorado For full sized pickups. 3 burner stove, ke box, roof vent, etc. 7' Hoygli Rider Fits ell Hie import trucks. Stove, ke box, sink, dinette, etc lOft' El Dorado Self contained, 4 cu.

ft. gas electric range, double sink, etc 1 945 I iff.