The Daily Times from Mamaroneck, New York • 1

53 Jfa uA (7 RP Wednesday, August 5, 1996 Gannett Suburban Newspapers SO cents Dow takes a dive inis, triggers fears The Dow Jones industrial average feU almost 300 points yesterday. dismal day. The Dow lost 35426 8900 By PM Wage StaffJWritar Sim hope of quick comeback, IE I i Yesterday' Dow A points on Oct 27, 1997, fbr the bluest i single-day point loss ever. It ing, was a fear that all the negative fectors would Join fbr one huge rallnpm Markets are driven by either fear or greed, said Kenneth Maho- first vice president of Pruden-Securities New City. "Yesterday, it was fear.

That fear, as well as losses during the past few weeks, erased most of the Dow's gains made this summer and this year. For the year, Dow advances of 18 percent were slashed to 7 percent For the summer, the Dow an index of 30 bhieebip stocks has fidlen more than 850 points below the July 17 record high of 9,337.97. rebounded 337.17 points the next day fbr the biggest singleday point gain. Experts reding from yesterday's tumult said it was fed partly by intensifying concerns of a slewing economy. At the same time, worries, we mounting that continuing economic HifUmttun fa Asia will reach Amer-ican shores.

Anticipation of lower third-quarter earnings by major companies dragged the Dow down even flirther. And the Idas of death, in the last hours of trad Investors fine some tougher' times today after yesterday's selling frenqr that saw the Dow Jones industrial average plummet nearly 900 points. More than half the-fall which produced the third-faiggest point loss'- in a single day occurred in -the last half-hour of trading. The effects will almost certainly ricochet across Wall Street today as investors and money managers try to decipher what sparked it, why it waso dramatic and whether it will continue, experts said. Whether yesterday's steep cor- rection that saw the Dow dose at 8,487.31, down 299.43 points, drags on or Whether the Dow suddenly recovers fbr big gains trading likely will be volatile at least in the morning, if not allday, they said.

After this kind of quick, late drop, you usually don't have a pesiceftil day, said Howard Hindi, lint vice president of investment at Smith Barney in Mount Kisca But experts were quick to add that a volatile day after a steep fell does not necessarily mean another 10 11 12 1 2 3 AM. PM. 20 22 2427 29 31 4 JULY AUGL Berman's recommendation. But if Kelly loses there, die could go missing page numbers to court t6 try to get the board ruling overturned. She has also filed petitions that would allow her to participate as a write-in candidate in a Sept 15 Republican primary to restore her name to the Novem- from the November ballot Albany Bureau ALBANY Two-term Rep.

Sue Kelly should be removed cause of flaws in her nomination petitions, the chairwoman of the state Board of Elections ruled yesterday. The ruling is subject to ratifi- ber ballot tion by Ber- man was not unexpected, said Kelly spokesman Jay Townsend. Its not a setback," he said while pointing out cation by the- ftill, four-member of I Board of Elections. Such rulings Staff photnOlanaStavanaon Victor Gonzalez, atralnee who was inspecting renovations near one of fhe main piers beneath theoenter of IheTappan Zte Bridge; Is tawaredtoawaiting bostyesferday after sufleringaback injury. He was taken toNyack Hospital.

The photo was taken through an opening in the bridge. Story, BA SueKetfy Liewinsky grand jury hears White House lawyer other rebuff likely to be followed by another set of appeals, possi are rarely overturned by the board and, if upheld, are uneqm-mon against incumbents. -The Katonah Republican should be removed from both the GOP and Conservative lines because the petition pages weren't numbered, a violation of the law, board Chairwoman Carol Berman, a Democrat, said after a hearing. Berman's ruling goes to the fall board fbr action on Monday. The board is made up of two Democrats and two Republicans.

The boards decision, either way, is expected to be appealed to state courts. Bermans decision means that Kellys Democratic opponent for Recent rulings endanger r. privilegeeof presidents, 3B bly all the way up to Rehnquist Chief justice rejects delay; counselrefuses to give some answers legal and political options Kelly has remaining. But it does make the road to re-election more difficult for Kelly, who is seeking a third two-year term. The question is how could her campaigners have neglected to meet such a relatively -simple requirement as number- ing the pages.

Like any experienced public official, she hires legal talent to make sure every is crossed and T. is dotted before the petitions were submitted," Townsend said. Evidently, the attorney In jury. He answered some questions related to the. case while declining to discuss subjects that he and Ids colleagues asserted are covered by attorney-client privilege, the sources said.

At the end of the afternoon, Breuer, his private attorney, fellow White House lawyers and a pair of Starr deputies convened for nearly an hour behind closed doors with Chief U.S. District Tba' Washington Post But the day aided without any public indication of additional appeals, and a legal source said Breuer plans to be at the courthouse again at 1 10 a.m. today. to discuss the situation yesterday. Asked how he felt being the subject of such WASHINGTON A top White House lawyer went before the grand jury investigating President Clintons tin to Monica S.

Lewinsky yesterday but reflised to answer certain questions, White House special counsel Lanny A. Breuer showed up at the federal courthouse to testify about two hours after Chief Justice William H. Rehnquist refused an emergency White House request to intervene and temporarily block his appearance yesterday morning. 1 Breuer, who has coordinated much of the White House dam-age-control efforts related to the Lewinsky investigation, spent about five hours with the grand Judge Norma Holloway Johnson, a high-profile battle, he joked, 1 the congressional-seat, Dick Col-' charge of this forgot to number vi a. i a a.i mm 1 Umm 1m in Dutchess prompting another round of legal Jousl sting with independent the pages.

Collins has made the foul-up a campaign issue. believe Sue Kelly violated Im honored. The developments were the latest in what appear to be increasingly fiitile attempts by the tins of Verbank County, has won the opening skirmish in the dispute over Kellys ballot status. The war is far from over, The could overturn Johnson, who Is overseeing the Starr probe, previously has rejected White House claims of attorney-client privilege in the Lewinsky case and the White House had been braced fbr an- counsel Kenneth W. Starr, sources familiar with the closed proceedings said.

Please tee KELLY, 2 A Please so CLINTON, 2A WEATHER Metro-North to on Fbr man of few words, add these: $65 million win A humid day Intervals of; clouds and "sun today, more humid; high Partly to mostly cloudy and muggy tonight; low 65. vMix of and sun tomorrow; high 84 Polly cloudy at Jijglft; low 66. SB Railroad to lengthen platforms, improve heat By Melasa Klein 8taff Writer Six news sections The work will include the rehabilitation of pedestrian overpasses, installation of new staircases and extension of canopies over platforms so more commuters will be sheltered from rain and snow. The railroad also will make sure each station overpass is heated, and retains heat Some have heaters in them, but because there are no doors, they were marginally successful, Kennard said. The improvements coincide with the $197 million renovation of Grand Central Terminal, Metro-North's flagship station.

The terminal has not been upgraded since ft opened in 1913, and this is the first major work done at some suburban sta- Improvements, 2A tions in 15 or 20 Ann Landers 4C Obituaries 10A 4C Opinion HA IB Our Town 4A Business JSmlcs I Running to catch a Metro-North train home, to stops like Pleasantville, Bedford Hills or Katonah may not be the last exercise a commuter gets for the evening. As trains pull into these stations, some commuters must dash to the proper exit because platforms on some Harlem Line stops are so short that the first and last two cars of long trains sometimes A list of planned BC Perspective ISA ID IP Sports Pood Uerfytos SI 1C Stocks Staff Wrttara He never said much in his broken English when he came into the SAS Grocery A Deli to buy lottery tickets, usually Lotto. Five dollars. Yesterday, 68-year-old Lazaro German could have gotten by 'With Lotto. Six point five million German, who immigrated to Port Chester from Cuba in 1969, was introduced yesterday as one of three winners of July 29s $40 million state Lotto jackpot at the neighborhood deli where, for years, he had been buying $5 or $10 worth of tickets.

Thats why I always bought he said in Spanish. 1 always had the idea I could On Saturday, just three days after learning he was a state-made millionaire, he walked back into SAS Grocery A eli and bought another ticket I want to hit it. said Smith 4C Television BC IB Local News BA Today BA Weather SB lotteries v. Mates BC Waddings 4A. IB 6B World NSwCYork -v Action Classified BD v.

years. Were trying to raise all stations up to a particular standard, Kennard said. Its kind of the gateway to our system. In some cases, those gateways' have become a little shabby. Kennard guessed that a set of stairs to be renovated at the Port Chester station is 100 years old.

A wooden -walkway over the Harrison tracks is likely 75 years old. Its not. a great overpass, Kennard cannot open their Sometimes, you miss ment, and youre running thi to try to get there, said Ji the railroads director of ca range planning. commuters may be able to relax. Metro-North Railroad plans to extend platforms at eight stations on the Harlem Line as part of $73 million in capital improvements now being designed or under way on all the railroads lines.

I haartnafrom our nadirs and A Mot phona numbars Staff ptiolaMiehaalDsCNIlo Raul Aleman, left, and nephew Lazaro German hold a replica of German's check for a share of $40 million atSASGrocery and Deii in Port Chester. Please see RAIL, 2 A on Paaa 4A. Please see LOTTERY, 2A CAL151 -800-942-1 01 0 I rvw' i I 1- I..