Casper Star-Tribune from Casper, Wyoming • 1

EDITORIAL yN NATIONAL CBS chief I 1 resigns BLWte C7 FT? 1 SPORTS -1 pfi Football weekend uiMU -ci 1 How to build the college A8 Sunny, rf -A2 rtbwte Us Mubarak, Peres focus summit on Palestinian issue Leaders meet for 4lA hours ALEXANDRIA, Egypt (AP) President Hosni Mubarak and Israeli Prime Minister Shimon Peres talked privately for three hours Thursday, and Mubarak said Israel's stand on the Palestinian issue is "improving a lot." "We have concentrated heavily on the Palestinian issue, which is vital and important for the peace process," Mubarak said at a news conference after meeting with Peres in the first Israeli-Egyptian summit in five years. "I think the Israeli position is improving a lot," he said. At a 90-minute working lunch also attended by other officials from both countries, Peres said Palestinians "have a right to participate in the determination of their own future" but he mentioned no changes in Israel's position on the Palestine Liberation Organization. I I'll yS? 'IkI I 11 S.Mk AP Summit talks Israeli Prime Minister Shimon Peres (right) and Egyptian President Hosni Mubarak meet Thursday at the presidential palace in Alexandria, Egypt. Stocks drop record 86.61 points Both Simpson, Sullivan pledge no tax increases mm Related story, A4 were added to the bill as controversial amendments.

Because of such measures, what began as a bipartisan bill uniting Democrats and Republicans, liberals and conservatives, has now become bitterly contested. However, it still was expected to pass. After the exclusionary rule passed, House Judiciary Committu Chairman Peter W. Rodino Jr. angrily commented that a bill designed to attack illegal drugs is the special reclamation tax funding the program expires in 1992.

More mine subsidence' is inevitable in Rock Springs well into the next century, and when it does occur, those affected are sure to be asking for federal government help, Collins said. When that happens, Congress is going to ask, "what happened to the $250 million we gave you to fix those problems (in Rock Springs)," he predicted. "I'm not sure 1 would want to be the one to tell them, 'we spent the money -on reclaiming lower-priority bentonite and uranium Expert says Wyo banks 'hard hit' But he notes many banks still healthy By RICHARD HIGH Star-Tribune editor CASPER Wyoming banks have been "particularly hard hit," watching their once-high boom-time profits turn into net losses so far this year, according to a Federal Reserve economist Dr. William Keeton, senior economist for the Federal Reserve Bank of Kansas City, told a group of Wyoming bankers and businessmen Wednesday evening that Wyoming banks suffered a net loss of about 0. 1 percent of assets or about $4 million in the first half of the year.

That compared with earnings about four times as large during the same period a year earlier, he said. But he stressed that while a number of Wyoming's banks have been hard-hit, many others remain Please see BANKS, A10 Panel OKs uranium relief bill By ANDREW MELNYKOVYCH Star-Tribune staff writer WASHINGTON A bill to clean up uranium mill tailings and restrict uranium imports was approved Thursday by the Senate Committee on Energy and Natural Resources. Although the measure gained quick approval from the committee, opponents of the import restrictions indicated they will fight the bill in the full Senate. The 14-2 committee vote clears the way for the full Senate to act on the bill. The committee spent less than an hour discussing the measure.

The bill would establish a fund to clean up 193 million tons of uranium mill tailings in seven Western states. Nine sites in Wyoming, with 57.6 million tons of tailings, would be covered under the bill. The bill could also increase the amount of money uranium mining companies must Please see URANIUM, A10 Casper Area A3 Churches B6-7 Classifieds D3-10 Comics B5 Community B3 Crossword B9 Enterprise C7.C9 Landers, Oracles B4 Letters A9 Markets C8 Obituaries, Diary B2 Opinion A8 Sports CI -5 TV-Movies B8-9 Wyoming Bl Old Grouch You'd think drug abuse was just discovered. RESULTS Mrs. Carl Werner sold her player piano AND her waterbeds the FIRST DAY her ads were in the Classified Section of the Casper Star-Tribune, BEFORE If you have items you need to get rid of, call us today.

WE CAN HELP YOU! Just phone 266-0555 or toll-free inWY, 1-800-442-6916. Biggest Daily Losses for the Dow Jones Industrial Average FTY- hi a 9 I i i I i I3Sk Irv V-lv 20 if I fflfyTfl io 2 3l 11P 40 I Loms in tarma of ilpssS 50 markat valtia 1 ESk Ocl 2. 12: Sapt. iT, 1M: 12 9. 6.

Highest voluma trading days jn Sepl 11 1986 M7.I7 yn Aug 3. 1964 BJaMaWMnN ZM.S7 'fwy March 1966 mKUtHKHBBBIHtKKi Aug 6. 1984 HIH ot 80 lass mmosammmmm n-a qq 'JGJp Jan 29 1966 11110 Feb 2. 1986 PJMHPJM iti.M iJC-. Sept 4.

1986 1H jmmmm APCynlhia Git Pattyont Nula tgurai in rmllKma of inarM Iradw on NYSE Peres has insisted that Israel will not negotiate with the PLO, which it considers a terrorist organization. Before his departure from Israel, Peres promised his Cabinet he would make no concessions regarding the Palestinians. The summit began after the two leaders shook hands inside Ras el-Tin, a seaside presidential palace, and then posed for pictures. They then met alone and talked in English, dispensing with translators and other aides. In all the two leaders met for 4'2 hours, including the working dinner on a balcony overlooking the Mediterranean.

Uri Savir, Peres' spokesman, said "the spirit and atmosphere was extremely friendly and good on both sides. "On the issue of improving relations and on the peace process, Please see SUMMIT, A10 in the severance tax on stripper oil wells until crude oil prices rise to a level to be set by the Legislature. Simpson said keeping taxes under control is essential to attract new businesses to Wyoming. "Raising taxes sends exactly the wrong message to businesses seeking to locate here, Simpson said. "Raising taxes sends the wrong message to people in Wyoming in tough times." Taxes, he added, can and will be controlled only by a governor who has legislative experience and knowledge of the workings of government.

Simpson is a former two-term state representative from Sheridan County and served on the Joint Appropriations Committee. He said his Democratic challenger, Mike Sullivan, may lack the experience and knowledge necessary to control the state's budget in the next four years. Sullivan, he said, has no experi-ence in the Legislature, government or as an administrator. Please see CAMPAIGN, A10 The significant changes were made when the House: Voted 296-112 to permit imposition of the federal death penalty for individuals involved in a continuing criminal enterprise, who intentionally cause the death of another individual. The change was sponsored by Rep.

George Gekas, R-Pa. Decided, 237-137 to force the president to send military forces to U.S. borders to stop drug smuggling, and give them power to make arrests cases in instances where Please see DRUGS, A10 package of information for federal officials and the state's congressional delegation as a basis for the proposed law change. In addition to a reserve fund to deal with future subsidence, some residents are also hoping that the Department of the Interior will reconsider a recently rejected request for $211,500 in compensation for damage allegedly caused by a state mine backfill project. DEQ officials said they have requested money for a reserve fund, but Interior's Office of Surface Mining has denied the request on Please see SUBSIDENCE, A10 NEW YORK (AP) Stock prices plummeted a record 86.61 points in Wall Street's busiest day in history Thursday, and bond prices also careened dbwnward amid investors' growing concern over rising interest rates.

The Dow Jones average of 30 industrial stocks plunged to 1,792.89, shattering the previous worst one-day loss of 61.87 points set July 7. Such huge setbacks have become more commonplace this year as the average has climbed to unprecedented heights. Yet because of those higher levels, the latest drop on a percentage basis is well below record size. Related story, C8 Thursday's decline represented 4.61 percent of the total value of the Dow Jones average. By contrast, the 38.33-point loss on Oct.

28, 1929, in the market's Great Crash was a whopping 12.9 percent. Still, there was no discounting the severity of Thursday's selloff. Ten stocks fell for each one that rose on the New York Stock Exchange, and Big Board volume soared to a record 237.57 million shares, surpassing the previous high of 236.57 million set Aug. 3, 1984. "It was constant, persistent, unrelenting selling all day long," said Alfred Goldman, vice president of the investment firm A.G.

Edwards Sons Inc. in St. Louis. The bond market also was wracked, with prices of some long-term Treasury bonds plummeting nearly $30 for each $1,000 in face value. The huge slide was blamed largely on a rapid change in investors' sentiment about the economy.

Investors previously had expected sluggish economic growth and continued downward pressure on interest rates, but they now seemed concerned that rates are rising because of indications the economy is gaining momentum, analysts said. House votes to use military for war on drugs By JOAN BARRON Star-Tribune staff writer CASPER Republican gubernatorial candidate Pete Simpson pledged Thursday to fight any new or increased state taxes. He was immediately joined in that position by his Democratic opponent, Mike Sullivan. "I and we must learn to live within our means as a state," Simpson declared. "I have every confidence in the Campaign 86 Legislature's ability to work with me and do just that." Within hours of Simpson's announcement, Sullivan spokesman Charles Brown declared Sullivan won't support any tax increases either.

But Sullivan, a Casper lawyer, continues to differ from Simpson because he opposes any cut in the mineral severance tax. Simpson supports a cut from 4 to 2 percent now an "attack on the Constitution of the United States." Rodino and others warned that the bill would be "filibustered to death" in the Senate, but Rep. Tommy Robinson, said he was so delighted by the changes that he thought he had "died and gone to heaven." The overall legislation would escalate the war on drugs by pouring billions of dollars into enforcement, education, rehabilitation, crop eradication, and withholding of aid from recalcitrant producer countries. "Collins said. The comment was in reference to a decision by the state Department of Environmental Quality to spend more than half of the roughly $250 million to $300 million Wyoming will receive from the AML tax on uranium and bentonite mine reclamation.

Two Sweetwater County legislators recently criticized the action, saying the subsidence situation in Rock Springs should be addressed first. One of the legislators expressing criticism was State Rep. Carl Maldonado, D-Sweetwater, who organized the panel to provide a WASHINGTON (AP) The House gave final approval Thursday night to a bill providing new weapons for the war on drugs, including required use of the military and reinstitution of the federal death penalty for some drug dealers. The vote of 392-16 sent the bill to the Senate. The legislation also would change the "exclusionary rule," to allow some illegally obtained evidence to be used in court.

That change, along with the military and death penalty provisions, engineers and other residents suggested Wednesday night that federal law be changed to create a "reserve fund" from Wyoming's share of federal Abandoned Mine Lands (AML) reclamation money and earmark that fund for Rock Western Wyoming College political science Professor John Collins, who has extensively researched the federal AML law and its impact on the state, said it would be tragically ironic if the problems in Rock Springs that helped provide the impetus for AML passage in 1977 remained unresolved after Rock Springs calls for special mine subsidence fund By PAUL KRZA Southwestern Wyoming bureau ROCK SPRINGS Local experts concerned about mine subsidence are suggesting that federal law be changed to create a special fund to deal with the underground mine collapses that plague Rock Springs. Collapsing mine voids under Rock Springs homes can be fixed by "endlessly" pumping concrete into them but there is a more realistic approach, the self-described "homegrown" experts say. A panel of local educators, 4.