The Independent-Record from Helena, Montana • 5

The Independent Record. Helena. Tuesday, March 6, 1990 5A Safe's imvesfmertfs provii-eifole BQBEFS By KEVIN McRAE IR State Bureau cording to the report. The most common investments were in corporate bonds and U.S. government securities.

About $1.45 billion was invested in bonds, for about 50 percent of the total investments, while government securities represented 18 percent of the investments at $520 million. Montana investments totaled about $154 million, according to the report, with $121 million in mortgages, $29 million in commercial loans and $4 million in certificates of deposits. Other types of investments by the state in 1989 included: bankers acceptances, $359 million; common stock, $131 million; repurchase agreements, $102 million; Canadian obligations, $86 million; and commercial paper, $80 million. and the troublesome federal trade and budget deficits. Seven years of business expansion may finally be coming to an end as most economic indicators show an apparent slowing in the pace of business, the report said.

There is no consensus opinion of the duration or magnitude of the impending slowdown, but many market participants expect a recession sometime in 1990. The largest suppliers of investment money in 1989 were the Public Employees Retirement System Fund with $735 million, the Teachers Retirement System Fund with $600 million and the Permanent Coal Trust Fund with $412 million. The Board of Investments earnings since it was established in 1971 exceed $2.2 billion, ac The state of Montana earned more than $1 million per working day from! its investments in fiscal year 1989, according to a report from the Board of Investments. Investment income grew 11 percent to $269 million for the year, while total assets managed by the state board increased 10 percent to a book value of $2.85 billion as of June 30, 1989. The report rated the market value of total assets at more than $3 billion.

The Board of Investments could take a very selective approach to investing in 1990, according to the report, given the agencys predisposition to conservatism Stephens lukewarm on clean air bill LcivSfceire cpipcsntfed Ho run slide loSDery By BILL LOMBARDI IR State Bureau O'Keeffe files for Legislature HELENA (AP) Five Democrats, including two incumbents, filed for legislative races Monday. Rep. Mark OKeefe, D-Helena, filed for re-election in House District 45, where no other candidates have filed as yet. Rep. Angela Russell, D-Lodge Grass, filed for another term in House District 99 and also is without opposition thus far.

In Billings, Democrat Scott T. McCulloch filed as a candidate in House District 96, a seat currently held by Republican Rande Roth, who has not filed for re-election. Another Republican, Joe Leckie of Billings, has filed as a candidate for the Sid Hould, a Democrat from Dodson, filed Monday as a candidate in House District 17, where incumbent Republican Duane-Compton has indicated he will not seek re-election. Republican Ernest Bergsagel of Malta has filed for the seat. Filing as a state Senate candidate was Democrat Bob Hockett of Havre, who seeks the District 7 seat being contested by another Havre Democrat, Harold Hanson.

Woman's slayer given 110 years KALISPELL (AP) A Whitefish man was sentenced today to 110 years in prison for the murder of his girlfriend a year ago in their Whitefish apartment. John Gambrel 33, was convicted last month of murdering Lori Schwegel, 27, on Feb. 5, 1989. District Judge Bart Erickson, in imposing the sentence, cited the heinous nature of the crime, Gambrels history of violence toward women and the unlikelihood of rehabilitation. Erickson also designated Gambrel a dangerous offender to limit his opportunity for parole.

Stephens, party, leave ffor Japan A trade mission led by Gov. Stan Stephens departs today for Japan, where the officials hope to promote Montanas tourism opportunities, agricultural products and low-sulfur coal. Stephens will spend only three days in Japan, but a 13-member delegation of state officials and industry representatives will remain for eight days. Stephens will meet on Friday with officials of Tokyo Electric Co. and NERCO, a coal mining firm that operates in south-central Montana.

The Japanese utility is interested ip guying low-sulfur coal from NERCO to meet its growing energy demands and Japanese environmental regulations. Former national park official dies KALISPELL AP) Max E. Edgar, 77, a retired chief safety engineer for the National Park Service, died here Sunday. Edgar, who lived in West Glacier, spent most of his career at Glacier National Park, where he was chief engineer for 16 years. He ended his National Park Service years in San Francisco, retiring in 1970.

After his retirement, Edgar moved back to the Flathead Valley. I By BILL LOMBARDI IR State Bureau Jerry LaChere, Montana Lottery's operations director the last three years, has been named the lottery's acting director. Acting Commerce Department Director Chuck Brooke last week recommended to Gov. Stan Stephens that LaChere be named the lottery's acting director. Brooke, who had been lottery director for less than a year, was named acting commerce director last month when former Director Mike Letson resigned amid allegations of questionable hiring and purchasing practices at the agency.

Brooke said he recommended LaChere on the basis of seniority and because of his overall understanding of the Montana Lottery. Administration spokesman Victor Bjornberg said Monday the governor has made the appointment and was waiting for paperwork for the selection to become official. LaChere was recommended from a list of three candidates, which also included Jerry Onstad, the lottery's security director, and Janet Drexel, lottery marketing director. LaChere, who was in Idaho Monday, currently supervises the lottery's accounting and data processing functions. A 40-year-old New Jersey native, LaChere and his wife Maureen moved to Montana in June 1977.

LaChere also was an officer in the operations department of First Bank of Helena, and worked eight years in the Montana Department of Administration's accounting division. While some are blowing praise at last weeks compromise on a Senate clean air bill, the Stephens administration hopes the bill wont be fouled any further. I dont think its as great as everybody said, administration aide Art Wittich said. "Theres too much compromise on the backs of Montana. Its too early to start jumping in the street and having a parade.

Gov. Stan Stephens and Wittich lobbied senators in Congress early last week, hoping to ensure that Montanas low-sulfur coal, which produces cleaner emissions than high-sulfur coal, would be marketable and the state would have room for economic growth. The compromise fashioned by Senate leaders in weeks of closed-door negotiations, however, could restrict Montanas economic growth because it would only allow Montana utilities to increase sulfur-dioxide emissions by 5,200 tons a year, Wittich contended. "Were being asked to be restricted in growth, he said. "Because we are so clean we are disadvantaged.

Already clean Montana utilities could have to purchase pollution credits -most likely from dirty Midwestern utilities to expand capacity under the bills emissions cap. In effect, Montana utilities would be penalized because they are relatively clean when compared with Midwestern utilities, which generally rely on high-sulfur coal to fuel power plants, Wittich said. "We want the ability to market our coal and we want growth the ability to produce more power, he said, noting some have predicted the Pacific Northwest is running out of energy capacity. If we have some population growth, well need more power. DNRC told state's drought planning is faulty points out, the drought plan and the advisory council are only activated after a drought situation emerges.

2nd Story Cinema 443-0287 Martin reported on drought-management recommendations drafted by a study committee for submission later this month to the state Water Plan Advisory Council. Responsibility for drought management currently rests with the state Disaster Advisory Council. But as the committee report Tonight 7:30 pm Only By The Associated Press Montanas drought plan is ineffective, should be rewritten and a new advisory group created to carry it out, say draft recommendations for a state water plan presented Monday. You have to get out ahead of a drought if you hope to do anything about it, Curt Martin, a state water resource planner, told the state Board of Natural Resources and Conservation. MIX kill ROMERO A true story of a modern hero Reeder's Alley figures in investment lawsuit BOZEMAN (AP) Some investors have sued two Montana businessmen and their attorney, claiming they fraudulently led the investors to put nearly $500,000 in a company that failed.

The suit was filed on behalf of Steven Burckley of Livingston; Gloria Fournier of Bozeman; her brother, Arthur Fournier of John Hazen of Emigrant; and Nick Dekunchek of Hillside, N.J. Defendants are Lawrence D. Kramer of Minnesota, formerly of Helena; Chester J. Jagiello, who lives in the Bozeman area; and David L. Jackson, a Helena attorney.

According to the suit, Lawrence Kramer purchased Helena's historic Reeders Alley, which includes several retail shops and the Stonehouse Restaurant, in 1985. A year later, according to the suit, Kramer and Jagiello formed Treasure State Development, claiming that the new company had two assets, the contracting firm of Alpha Homebuilders and Reeders Alley. The suit said the two also stated that the company had negotiated an option to purchase 20 unpatented mining claims in Gallatin County and 48 mining claims in Lewis and Clark County, and that the company was negotiating to purchase Bozeman Hot Springs resort. The plaintiffs claim that Kramer and Jagiello, with the help of Jack-son, then put together a business prospectus and pursuaded Gloria and Arthur Fournier to invest $125,000 in the company. Three months later, Hazen invested $170,000, Burckley invested $25,000, and Dekunchek, an uncle of Jagiello, invested $160,000, according to the suit.

Last year, the plaintiffs said they learned that the company never owned Reeders Alley and that Treasure State Development had failed. We Deliver 443-0850 In (tofans of th poor fought with only weapon he had (he truth PG-13 4-10 pm per couple 51 51 51M Prime Wine Scampi Wine Prime, Scampi Wine Limousine to from and Dinner for two Sat For Reservations Call Courtneys Limousine Service Located in historic Reeders Alley TUESDA IS HAPPY DAY 2 for the Price of 1 Selected Single Flowers 9:00 to 6:00 Cash Carry Register Every Tuesday for FREE Arrangement of Sweetheart Roses Need not be present to win 1888-1989 WEST OP HELENA Weekday Set 9-6, Sun. 11-6 I'A Growing Family (or Over ISO Years kOur 2nd Crniury -T WBWORKtFORlYOU 449-3389 Open Year Round For all your Business and Personal needs, call Sharon Pfeiffer 3 SzlX nnnnnri nr 03311 Monday Tuesday March 5 6 Chicken Fried Steak $595 Wednesday Thursday March 7 8 Chicken Parmesan wFettucini $845 FREE LUNCH (3 Choices) When you buy roll of quarters to playl This ad good for one well drink at 50 this week One per customer per day TXBTM FBS Insurance Helena 8ai to I 442-5360 1200 N. Montana get 5 TT ALERT CAB II M10 The Florence Crittenton Home cordially invites you to attend The Annual Shamrock Salad Luncheon Thursday, March 8, 1990 11:00 am to 1:30 pm First Presbyterian Church 535 North Ewing Street, Helena, Montana Tickets $5.00 at the door Transportation available call 442-3217 by March 6 Free child care provided Homemade Salads 90th Birthday cake cutting at 1 1 :30 am 4S8-981E Off MS Exit 200 Lincoln Rd. TUESDAY OZ.

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