The Miami Herald from Miami, Florida • 7

f-J Wednesday September 2 1987 The Miami Herald 7 A CIA workers founds sold valuable stamp misprints Volcker: of cheap9? Biography portrays him as penny-pincher STAMP from I A being packaged for distribution What happened to the other 300 stamps on the misprinted sheet is not known After the agency employee returned from the post office her supervisor noticed that the orange glow and flame on the stamps was upside down according to an report released by the Bureau of Printing and Engraving The employee consulted with other workers one of whom was a stamp collector and they took the stamps to an unnamed stamp dealer in Annandale Va who bid on them and suggested that Shiff a major stamp auctioneer would probably make a better offer Six days after the discovery the group sold 86 stamps to Shiff who announced the find and on May 28 1986 sold the first inverted one for $5500 The names were deleted from the bureau's report at the request The bureau investigation confirmed that the candlestick inverts were created inadvertently when one sheet of 400 stamps turned upside down between two printing presses Bureau investigators apparently did not know that the CIA workers Volcker was by no means first choice the book contends When Volcker then president of the New York Federal Reserve Bank and well-known in banking circles was first mentioned to Carter the response reportedly was Paul In the final days of his chairmanship Volcker would have agreed to accept another four-year term if Reagan had personally sought to dissuade him from retiring the book contends But no such direct appeal was made In the past Volcker had closely guarded details of his private life But the new book published by Congdon Weed Inc of Chicago contains numerous anecdotes about Volcker the private man For instance it depicts the apartment in Washington where he lived alone while commuting on weekends to New York to spend time with his wife as with newspapers cigar butts and fishing flies that he had tied himself" He bought a washer and drier for his daughter Janice a nurse who lives in the Virginia suburbs then proceeded to carry over his laundry every week or so in a known as the No 1 inflation fighter But in a discussion with the author Volcker the Fed chairman for eight years downplayed his role in breaking the inflation that had soared to 133 percent in 1979 when he was appointed by President Carter Instead he credited President refusal to back down during the air strike in 1981 as having an almost equally important psychological impact as the tight monetary policies which sent interest rates soaring but also helped bring inflation down to under 4 percent by 1982 decision to fire the controllers rather than accept their salary demands helped to hold down wages That had as much to do with braking inflationary expectations as his tight money the Fed chief Neikirk wrote Yet Greenspan the current Fed chairman gave Volcker broad credit for reversing the inflation of the 1970s A nominal Democrat Volcker was first appointed by Carter and then reappointed to a second four-year term as Fed chief by Reagan in 1983 Vr-? 4 i 3 i One of these 1918 misprints sold for $143000 in auction this year kept nine of the stamps One of them surfaced this summer at a stamp shop in Arlington Va where it was offered for sale at $17000 That led to Yeager's discovery in July that 95 were known to exist One however was badly torn apparently by the CIA workers making it worthless Silas Oglesby a bureau agent who interviewed some of the CIA employees said in his report that one that the 86 postage stamps of a normal face value of $86 were not stolen from the agency in that the 86 inverted stamps were replaced with regular Paul Volcker: Gave daughter a washer then used it for her to wash The daughter is quoted as saying: could see I was getting corralled into Volcker hated to spend money unlike some of the bankers he regulated daughter said really care a lot about his appearance just sort of cheap" remember we had this old car when were were living in Plain-field NJJ and it was this old green Ford The car was just falling apart I remember at one point the front seat fell back took the kitchen stool and propped up the back of the seat for a couple of years" the daughter said The book also says Volcker complained about the cost of meals in Washington restaurants and exercised frugality with his children storewide and simply sensational WASHINGTON (AP) Paul Volcker Jr was the world's most powerful banker but in his personal life he pinched pennies ruthlessly railing at high restaurant prices and carting his laundry to his house in a suitcase according to a new study of the retired Federal Reserve Board chairman Volcker is also a passionate Monopoly player who delights in winning showing no mercy journalist William Neikirk writes in a biography of Volcker due to be published this month think your father would let you win once in a the book quotes daughter Janice as saying Volcker: Portrait of the Money Man is the first book to appear on the Fed chairman since he announced his retirement last June Volcker has read the book and does not plan to comment on it said Joseph Coyne a spokesman for the Federal Reserve Neikirk an economics writer for The Chicago Tribune interviewed Volcker and his family members and his successor at the Fed Alan Greenspan for the biography of the shy 6-foot-7 central banker who became Washington Roundup Group fights whale hunt hy Japanese from llcrald Wire Services WASHINGTON An animal protection group urged the Reagan administration Tuesday to quickly impose economic sanctions against Japan in an effort to stop a planned Japanese whale hunt in the Antarctic this fall Officials of the US chapter of the World Wildlife Fund said the killing of 825 minke whales and 50 male sperm whales would violate pledges Japan made in 1984 to halt large-scale commercial slaughter of whales this year 90 cut is ordered in benzene exposure The Labor Department on Tuesday ordered a 90 percent reduction in occupational exposure to benzene culminating a bitter decade-long legal battle over how to reduce leukemia deaths among some 240000 workers who breathe its fumes The Occupational Safety and Health Administration said industries will be given five months to reduce on-the-job exposure to benzene Reagan may agree to interview with Walsh White House officials said Tuesday that they expect President Reagan will agree to be interviewed by independent counsel Lawrence Walsh about the Iran-contra scandal But the officials emphasized that the issue has not been discussed directly with the president because Walsh has given no indication whether he will ask for an interview Legislation targets mail-order sales tax The chairman of the House Ways and Means Committee has cleared the way for consideration of a bill that would end the sales-tax-free status of merchandise ordered through the mail or through television shopping clubs Rep Byron Dorgan D-ND said Tuesday Enactment of the legislation would cost mail-order customers and enrich state coffers about $15 billion a year according to estimates by the Advisory Commission on Intergovernmental Relations Florida would gain more than $63 million according to the estimates Storm weakens still jroiiiir west A poorly organized tropical depression in the mid-Atlantic appeared to weaken slightly Tuesday as it continued to move slowly west according to forecasters at the National Hurricane Center in Coral Gables Early Tuesday night the ill-defined center of the unnamed depression was about 2400 miles east-southeast of Miami at latitude 160 north and longitude 430 west It was moving west at about 15 miles per hour Based on satellite photos forecasters estimated maximum sustained winds of about 35 mph and predicted little strengthening over the next few hours Dresses Our own silk crepe de Chine shirtdresses regularly 150 00 0000 Full-skirted jersey dress by SG Gilbert regularly 16400 0000 Maggy London's puff sleeve print dress regularly 14400 0000 Softly tailored gabardine shirtdress in black or khaki regularly 16500 10000 Hip yoked blouson dress regularly 18000 11000 Jersey knit chemise from a famous maker specially priced at oOOO Our own paisley challis dress regularly 80 00 3000 Silk noil trapunto-waisted dress from a famous name regularly 0400 6000 Young American Juniors Sweaterknit coordinates regularly 2400 ami 3200 1700 and £300 Cropped cotton sweaters or cotton twill sweatshirts very specially priced at 2100 Distressed cotton denim jeans regularly 4000 2000 Full skirted jersey surplice dress regularly 5400 3000 -as- y- -K- From The Man's Shop Our striped oxfordcloth button-down shirts regularly 31 50 2200 Wool-and-silk foulard ties regularly 1 8 50 1 2 OO Solid oxfordcloth button-down shirts regularly 25 00 1000 Shaker knit cotton sweaters in ten colors regularly 4000 2000 Our stonewashed cotton sportshirts regularly 3500 2700 Heavyweight cotton rugby shirts regularly 4250 2000 Prewashed pleated cotton pants regularly 3250 2400 Our own suede bomber jacket regularly 140 00 0000 Suits and coats Suits from Sasson Saville Bert Newman plus our exclusives regularly 16000 to 28500 11009 to 18999 Two-piece silk suit by Adrianna Pope regularly 14500 9999 Four-part wardrobe from Oleg Cassini regularly 33500 22999 Evan-Picone's overscaled wool fleece polo coot regularly 36000 26999 JG Hook's double-breasted wool pea jacket regularly 245 00 1 69 99 Double-breasted wool shortcoat in lipstick red regularly 17500 11990 Snakeskin textured rain slicker with liner regularly 15000 9999 Warmly lined double-breasted trenchcoat regularly 12000 7999 Intimate apparel Warners Hidden Powers' and Bodyshine bra collections regularly 1300 to 1650 1040 to 1320 Maidenform Whistle cotton panties regularly 400 and 500 320 and 400 Hanes Alive sheer support pantyhose regularly 690 pr 3 prs for 1665 Flannel nightshirts and brushed nylon gowns regularly 2700 and 3100 1999 and 2199 Girls and boys Girls' 4 to 6x lace-collared white blouse and chambray skirt with lace hem each regularly 1600 1109 ca Fleece Henley shirts for boys' XL regularly 20 00 1409 20 to 25 off a terrific selection of dresses for 4 to 6x and sizes 7 to 14 20 to 33'h off baby and newborn layettes gifts and clothes For your home A 4 Fieldcrest Royal Velvet cotton bath towels discontinued colors regularly 1500 740 Our automatic electric blankets regularly 13500 to 24000 all sizes 7999 Heavyweight cotton chenille bedspreads regularly 8000 to 120 00 all sizes 3099 Colorful Parfait tablecloths regularly 20 OO to 60 00 709 to 2390 Sportswear Cashmere shoulder-button crews in terrific colors regularly 1 35 OO 8999 From a famous American tailor cotton corduroy coordinates made for us: one-button or double-breasted jacket regularly 16000 and 16200 11990 slim skirt or pants regularly 7200 5309 coordinating print blouse regularly 9500 6999 Silk crepe de Chine blouses in five colors regularly 6000 3999 Pleated wool gabardine trousers olive taupe or black regularly 9000 5999 Slender skirts in khaki black or 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leather handbags regularly 5000 to 23200 3200 to 15400 Leather gloves unlined for driving or silk or cashmere lined regularly 2700 to 54 OO 1000 to 3000 Selected collections not every style in every size and color Percentages off regular and original prices intermediate reductions may have been token prior to this sale Lord Taylor Cutler Ridge 238-2000 Aventura 932-2777 Miami International 599-5230 Dadeland 284-8092 and Palm Beoch Boynton Beach Fort Lauderdale-The Gallerio Coral Square and Town Center at Boca Raton All open Monday to Saturday 10 to 9 (Aventura until 9:30) Sunday 12 to 5:30 1 i.