Newsday (Nassau Edition) from Hempstead, New York • 57

US Trade Deficit Down 28 in July The Gap Narrows The difference between imports and exports represented by the shaded portion was much lower than expected for July but experts warn that the figure is very volatile and subject to revision Figures are in billions of dollars rate of 1 3 7 5 billion compared with the record $170 3-billion deficit in 1987 deficit which is subject to revision was much less than the 115-billion consensus forecast on Wall Street and the news contributed to a modest advance in the stock market The Dow Jones average of 30 industrials climbed 1760 points to 210064 closing above 2100 the first time since early August Marshall Front chief economist at Stein Roe Fornham in Chicago called the response in comparison to the dramatic stock market movements that have accompanied previous swings in the trade figure Front said the market is now used to the volatility and Wall Street is now paying more attention to and interest-rate Reaction was less quiet in the political area as the Reagan administration hailed the huge decline as proof that the economic strategy was paying off In a speech in Cape Girardeau Mo President Ronald Reagan called the trade figures news that proved that America goes into By A1 Gordon In a sign of continued steady improvement in the competitive position on world markets the US foreign trade deficit tumbled 28 percent to $953 billion in July the government announced yesterday The Commerce Department said that on a seasonally adjusted basis US exports in July rose 07 percent to $2647 billion while imports fell 89 percent to just under $36 billion The department also said the deficit for June was worse than initially reported revising it upward to $1322 billion about $680 million higher than the original figure The monthly trade figures are highly volatile and most economists put little stock in any change numbers bounce around like said Lawrence Chimerine chairman of WEFA Group in Bala Cynwyd Pa But he and other analysts think trade deficit is still on a track toward declining on a gradual So far this year the trade deficit is running at a seasonally adjusted annual SOURCE: Commerce Department Newsday Also in reaction to the trade figures the dollar rose strongly against the West German mark and other foreign currencies and the Federal Reserve reportedly intervened in the markets to slow the the market to compete we play to The trade figures limit one potential line of attack for Democratic presidential candidate Michael Dukakis who had been criticizing Vice President George Bush and the administration over the trade deficit Please see DEFICIT on Page 59 Hurricane Disrupts Tourism Business be discontinued for the next two or three days according to the Caribbean Tourism Board Damage to many coastal hotels in Jamaica has been extensive according to the board Flights also were canceled to the Mexican resort towns of Cancun and Cozumel American Airlines one of the largest carriers to the Caribbean estimates that 120 to 140 people normally fly to Jamaica each day The airline is offering travelers refunds or the option to rebook their Jamaican vacations difficult to advise passengers on rebooking right said Jim Brown corporate spokesman for American are still waiting to see how extensive the damage Despite the reports about Gilbert many area Officials from Wyndham Hotels a Dallas-based chain said they had received reports that the Rosehall hotel in Montego Bay Jamaica had been severely damaged But there had been no reported injuries or deaths and the hotel still had water and electricity been told there are 1100 people there some from other hotels and destroyed said RA McKinnon manager of resorts for Wyndham the serving as a Some hotels have received reports that their Jamaican resorts have been evacuated but other information is scarce and unconfirmed been told that our hotel has been evacuated but we know if the people have been taken inland or off the said Kris Stewart a spokeswoman for Holiday Inns which has a hotel in Montego Bay Flights to Jamaica on major airlines are expected to Bv Dottie Enrico and Ronald Roel Phone lines to New York travel agents airlines and hotels were jammed with calls yesterday from anxious travelers hoping to reroute or reschedule their vacations away from Jamaica and Cancun Mexico which have been ravaged by Hurricane Gilbert Two couples who had booked Jamaican honeymoons for October and December were advised by Tyree Travel Ltd in Old Bethpage to switch to another island Many tourists were being rerouted to the Bahamas knows how long it will take to put the island back said Paula Fertik a Tyree travel agent knows when have water and Please see TOURISM on Page 59 NEWSDAY THURSDAY SEPTEMBER 15 Ch 55 to Switch Owners SIGNPOSTS that Ch 55 runs weekdays from noon to 1 pm Haus hosts the show a magazine-style inspirational program that has a strong religious flavor Haus did not return phone calls yesterday WLIG is licensed in Riverhead and has studios in Ridge and executive offices in Woodbury looking to consolidate our Pascucci said pro-gramingis carried by four cable systems in Suffolk and two in Nassau For viewers who receive WLIG via a cable system the station distributes free UHF loop antennas that can be attached to the back of TV sets operated at a loss since it went on the air in 1985 were told lose money the first five he said He called the acquisition by the Haus-led consortium a of raising more Pascucci said he will continue to operate the station and that no programing or staff changes are planned WLIG has about 65 employees and offers a 20-hours-a-day format dominated by movies and series reruns It also features local news programs Haus heads First Century Broadcasting a California-based producer of syndicated programing including to a show By Bill Kaufman WLIG-TVChannel 55 is being taken over by a consortium that includes Ronn Haus host of to a syndicated program with a religious outlook that is carried daily by the UHF station Financial terms of the deal were not disclosed and WLIG president Michael Pascucci declined to discuss specifics of the ownership switch which needs Federal Communications Commission approv-The stock market reached a five-week high as it al or the finances responded to better-than-expected news on However Pascucci who has international trade Ticker Page 52 been the majority owner acknowl- edged that WLIG has consistently -C vl.