The Journal Times from Racine, Wisconsin • 8

fiiloire aid soiuicjjlhill: foe fecinnieirs Xi makers at the hearing noted the tentative im we're going to do it," Nelson said. He stressed, WASHINGTON (AP) Country singer Willie Nelson says his farming skills can be summed up in the batch of hogs he bought years ago (or a quarter each. "I think I sold them for 17 cents apiece," the bearded and pony-tailed singer said Thursday following a Senate farm hearing at which he appealed for action to ease the economic plight of U.S. farmers. Nelson's self-proclaimed lack of farming skills did not deter him from delivering a strong message to the lawmakers.

In his second appearance before the panel in a year, Nelson, who organized two Farm Aid concerts that raised $8 million, said the woes of rural America seem to be getting worse and that farmers must get more money for their crops. That view was at variance with latest estimates showing land values bottoming out and crop prices on a slight upswing. Some law provement over last year. But no one pressed Nelson or rock star John Cougar Mellencamp, who works with him on the Farm Aid concerts, to reconcile the conflicting views. "Just keep on doing what you're doing," said Sen.

John Melcher, D-Mont chairman of the Senate agricultural production and price stabilization subcommittee. "The farmers in this country are dropping out they're dropping like flies," Nelson told the panel. Nelson conceded he is "not a farm policy expert" and stopped short of putting his stamp on any specific piece of farm legislation, including the mandatory production-control bill sponsored by Sen. Tom Harkin, D-Iowa, which was the nominal subject of the hearing. "You are the smart guys you tell me how though, that fanners are not getting enough money for their crops and that changes of some kind should be made.

"The people who have come up to me after the show, before the show have told me the farm crisis is getting worse, not better," Nelson said. "One hundred percent of the people have said this." Mellencamp told lawmakers he thought "a lot of the problems are being approached from the rear end forward." He said it was obvious that wealthy, large-scale farmers are in good economic condition. But he said the story was far different for poor farmers in South Carolina where he is spending the summer. "Those black farmers don't have a chance." Mellencamp told the lawmakers that it "just seems funny that after my show and Willie's shows they're coming to us" for help with individual farm problems. John Cougar Mellencamp Willie Nelson 1 CM 8A Friday, June 19, 1987 Racine, Wis.

the Journal Tinges FBstSi WlfSscoirDsoini upocts 46 yeflE's on th job hi Boss odd Lattim) Bosiim Pressman never took a sick day 1 fJS "fa? r'(h i MILWAUKEE (AP) Wisconsin's largest bank an ticipates a net loss of $55 million as it follows other United States banks in reassessing loans to South American countries, officials say. First Wisconsin National Bank said Thursday it would set aside $96 million in a reserve fund for possible losses because of uncertainty over the ability of Latin American countries to repay huge loans to most of the world's major banks. The bank's major Latin American loans are in Mexico, Argentina, Venezuela and Brazil. The bank had between $43 million and $65 million in loans outstanding in each of those countries at the end of 1986. Officials said First Wisconsin's set-aside plan could cost $70 million after taxes and would wipe out earlier projected profits of $15 million, causing a second quarter net loss of about $55 million for First Wisconsin the bank's parent holding company.

The loss is approximately equal to the company's profits for all of 1986. Despite the loss, First Wisconsin still expects to make a profit for this year of $35 million to $45 million thanks to the planned sale and lease-back of its First Wisconsin Center headquarters building, also announced Thursday, Plans announced Thursday by Trammell Crow Co. of Dallas and First Wisconsin Corp. include a $195 million deal under which Trammell Crow would take possession of the First Wisconsin Center. First Wisconsin Bank then would lease space from the new owner.

Jon Hammes, a partner in Trammell Crow, said tentative plans include several buildings to be erected in stages, with the chief structure containing offices, -condominiums and stores. One plan is for an office byuilding of 40 to 50 stories on an eight-acre site near the First Wisconsin Center. Ever since Citicorp took the lead last month by add-; ing $3 billion to its reserves, major banks around the country have been taking similar action. Approximately 20 banks have followed Citicorps lead, and many more are expected to make similar announcements in the two weeks left before the end of the second quarter. First Wisconsin, which has offices at 4701 Washington Racine, has about $269 million in loans to America, said William Risen, senior vice president of finance for First Wisconsin Corp.

The $96 million set-aside fund raises the bank's total reserve in case of loan losses to $160 million, or 3.5 percent of all its loans. About $102 million of that reserve is allocated for-loans to less-developed countries, almost exclusively in" Latin America. Analysts said investors already had discounted the-price of the bank's stock because of the Latin debC problem, and that the stock price would have suffered only if First Wisconsin had failed to take this action, Since April 10, 1941, there have been almost 12,000 working days, and Paul Hudec hasn't missed one of them, Hudec, 66, a pressman for the Journal Times, closed out a 46-year career Thursday with an unblemished attendance record. His secret: "I always believed in an optimistic outlook." And, grinning, he added that "a little bit of home cooking" didn't hurt. "I'm not going to say I didn't have some aches and pains," he said.

Until February 1973, Hudec and other pressmen lugged around BO- to 60-pound lead plates all day. In addition, Hudec said, "I really think my love of the outdoors, exercise and sports" contributed to good health. But Hudec kept returning to attitude. "It's a challenging situation," Hudec said of newspaper work. He acknowledged the stress of daily deadlines, but said the pressures can be turned into a stimulating instead of debilitating force.

He also said there is a definite excitement attached to the newspaper business. "I guess I was a news junkie, even as a kid." He said he recalls the excitement of readers flocking Greyhound to purchase Paul Robert, Journal Times Paul Hudec, a Journal Times pressman, retires. Business Today Trailway! around newspaper carriers heralding an "extra" edition. "I try to read about four newspapers a day. I suppose you could call it an addiction of sorts." Hudec said he will replace the daily adrenalin fix "of newspaper work with golf, travel and "the usual recreational outlets." "I don't want to change my lifestyle too much outside of work.

My lifestyle must have brought me this far," he said. Osytoii Hons cliQiiQinQ PAY HIKE FOR JOBLESS GAINS; A bill to increase unemployment compensation benefits has received unanimous approval of the state Assembly with sponsors saying it should please employers too. Employers are taxed to support the fund from which unemployment checks are drawn. The bill approved 97-0 Thursday and sent to the Senate would reduce the assessment for small businesses that have few layoffs. The bill would raise the maximum allowable weekly payment to $200 from $1.

It would save an estimated 16,000 employers $10.50 per employee annually. A small employer is defined as having a payroll of less than $200,000 a year. FOREIGN REP QUITS: The administrator of the economic development division of the state Department of Development will temporarily assume the duties of Steven E. Lotharius, director of the foreign-trade division, wjio is resigning. Lotharius will leave the office July 1 to take a job with a Middleton company, officials said Thursday.

Rolf Wegenke, administrator of the economic development division, said he will assume Lotharius' duties until a successor is named. and Village Inn said he plans to buy the operation, which is owned by a trust controlled by Constance G. Bacantain, the widow of Spiro J. Papas, who died in 1967. "I'm in the process of putting something together," he said.

"At this point I don't see any significant problems." Until 1983, Terrell said he managed eight motels for another company, including an Adrian, Mich, operation that has lost its Holiday Inn franchise. Terrell said he has renovated the front of the motel building, and said remodeling projects in the motel's 78 rooms are under way. New carpeting and bed spreads are being installed, and he said 34 rooms will get new furniture in July. "I'm really excited about it, and I'm really excited about this city," he said. "I've never been in a city that has had so much potential." Plans are for the motel to remain "budget-priced" through the summer, he said, "but I do intend to bring them up." By Don Schauf Journal Times A former accountant has taken over management of the Clayton House Motel and said he plans many changes for the 24-year-old motel.

Joe A. Terrell, 38, has changed the name of the motel at 5005 Washington Ave. to Apple Valley Lodge, and lowered the room rates to $23.95 for a single room, making the motel what he calls "a family budget inn." "With the Sheraton and the Super 8 being built, it was time for this motel to reposition itself and get back to being competitive," said Terrell, president of Apple Valley Lodges. Terrell is operating Apple Valley under a May 11 management contract he has with the former operators of lhe motel, a limited partnership called Clayton House of Racine in which Ali Yusuf of Oak Brook, III. is the general partner.

Terrell, formerly assistant controller for plant accounting in the commissary divison of Baker's Square WASHINGTON (AP) Greyhound Lines Inc. today said it had reached agreement to take over the financially ailing Trailways Corp. in an $80 million deal that will leave the nation with only one national inter-eity bus company. Greyhound chairman Fred Cur-rey said that Greyhound will guarantee continued bus service to the cities and towns served exclusively by Trailways. He said the precarious financial position of Trailways, a privately held company, had endangered service to those cities and towns.

Trailways, a smaller line than Greyhound, predominantly serves the South and East Coast as far north as New Vork. "Without intervention, the collapse of Trailways is imminent," Currey, the chairman and president of Greyhound, said in announcing the agreement. "If that happens, public trans-portaion will be disrupted in parts of 17 states where Trailways has the only bus service to some communities, and several thousand people will be out of work," he said. The sale is subject to approval by the Interstate Commerce Commission. Currey said the companies filed an application today with the ICC seeking an immediate preliminary approval and filial approval.

Currey said there was no decision on what will happen to Trailways' 2,200 employees. Under the agreement, Greyhound will pay $80 million to buy 450 of Trailways' 1,200 buses, some of its terminals and garages, and undisclosed other assets, said Greyhound spokesman George Gravely. Both companies are based in Dallas. iT incomes up a record 3.4 percent to Americans dipped into savings STEELWORKERS TAKE PAY CUT: Members of a steelworkers local at Eveleth Mines, Duluth, approved a new contract Thursday that includes a pay cut of 99 cents an hour, a union official says. A health care plan for laid-off employees of Reserve Mining meanwhile, has been approved in a New York bankruptcy court after six months of legal wrangling and two blockades of Reserve's plant gates.

Average hourly wages will drop to about $12 an hour under the contract, he said. TAKEOVER BID REJECTED: Gillette directors have rejected an unsolicited $4.66 billion takeover offer from Revlon Group the second attempt Revlon has made to buy Gillette in the past seven months. "The board is firmly of the belief that Gillette has a bright future as an independent company," the directors said in a statement after a regularly scheduled meeting Thursday in Boston. spend more in coming months and help stimulate the economy. The Commerce Department said Thursday that personal after-tax income rose a record 3.4 percent in May.

Personal savings, which tumbled to an all-time low in April as Associated Press Americans had more money in their pockets and bank accounts last month after recovering from unusually large tax leading to some optimism that consumers will pay taxes, recovered as well. Economists regarded the figures as important because consumer spending accounts for two-thirds of overall economic activity and has supplied most of the power to keep the economy moving since the 1981-82 recession. After-tax disposable income had plummeted 2.7 percent in April. Mortgage Rates -15 year 30 Year- Local interest Dollar, gold This Last Total Week Week Points This Last Total Week Week Points Foreign exchange Cewlny obw W. Bi4 loc.

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