The Pantagraph from Bloomington, Illinois • Page 45

THE PANTAGRAPH, SUNDAY, APRIL 12, 1981 to Thrift industry attacks money market funds NEW YORK (AP) The thrift industry has begun an offensive against high-interest money market mutual funds, accompanied by warnings of grave economic problems unless such funds are more closely regulated. The industry, made up of savings and loan associations and savings banks, claims the so-called MMMFs have drained from them many scores of millions of dollars which they would have used to support housing. They seek to bring the MMMFs under closer regulation, including limits on the amount of interest MMMFs can offer to purchasers, and forcing' them to maintain reserves similar to those required of banks. In a list of accusations, the thrifts claim MMMFs worsen inflation, undermine housing, threaten homeowner equities, deprive local businesses of funds and make long-range planning almost impossible. The thrift industry claims the MMMF threat to local economies results from their draining hundreds of millions of dollars from small communities to big-city and overseas banks.

Assets In the seven weeks that ended March 18, the savings associations say they lost $591 million of deposits. Meanwhile. MMMF assets have surged to $110 billion from $75 billion last December and $10 billion in 1978. High rates paid by funds also adds to the demand for short-term money, said William B. O'Connell, executive vice president of the U.S.

League of Savings Associations, and thus helps "accelerate inflation and impede the Federal Reserve's efforts to contain In fact. he said in an interview Friday, "by creating so many financial problems, the 1 funds threaten to undermine the new administration's entire anti-inflation strategy. He and others say withdrawals from thrifts as a result of higher rates offered by MMMFs are depriving the On The Record Police Summary Larry Marijuana Court. Bloomington appear April Seats taken Abbey Texaco, 2308 E. Oakland between 9 p.m.

Friday and 7 a.m. Saturday: two seats taken from boat parked at business: value undetermined. Gun stolen Robert Keeran. 801 E. Olive from 7:30 a.m.

Friday to 1 a.m. Saturday; handgun, valued at $300 and ten boxes ammunition taken from residence. Money taken Motel, 1507 S. Morrissey Drive: 9 a.m. Saturday, $351.90 missing from office.

Carpet, bed stolen Robert Fogler, 624 E. Mulberry Thursday; carpet and twin bed taken from apartment; total value, $550. Tools taken Dave Gronemeier, 801 S. Mercer 3 a.m. Saturday: tools taken from garage; total loss.

$550. Normal Cassette player stolen Katie Schmidt, 98 W. Vernon Normal: Friday; $250 cassette player stolen from car at residence. McLean County Tools stolen Daryl Baker, R.R. 2.

Hudson: 6:20 to 10:30 p.m. Friday; tools, valued together at $235. stolen from truck at residence. Fire Alarms Bloomington Natural gas line puncture 6:19 a.m. Saturday at 405 Fifer home of Edith Smith; small fire out on arrival; no damage.

Alarm malfunction 2:42 p.m. Saturday at Raiston Purina 1700 W. Olive no fire. Power line short circuit 11:07 p.m. Thursday at Central Illinois Roofing 404 Eldorado Road; power line short circuit caused utility pole to catch fire; loss.

$100. Alarm malfunction 5:23 a.m. Friday at The Eureka Company, 1201 E. Bell no fire. Normal False Alarm 4:19 p.m.

Thursday: false alarm at 1100 W. College Ave. Alarm malfunction 1:06 p.m. Friday at Wilkins Hall, Illinois State University. Rescue Runs Bloomington Numbness in hands William Kraljevich, 50.

Harland, taken to St. Joseph's Hospital Medical Center at 11:51 p.m. Friday. Illness Bonnie Chaney, 66, of 308 Olive taken to Brokaw Hospital at 12:37 a.m. Friday.

Heart trouble John Walsh. 78, of 1026 W. Taylor taken to St. Joseph's Hospital Medical Center at 3:06 a.m. Friday.

Illness May Harweger, 61, of 311 Riley Drive; taken to St. Joseph's Hospital Medical Center at 8:43 a.m. Friday. Heart trouble Donald McCleary, 64, of 1222 12th Hilltop Mobile Home Court: taken to Brokaw Hospital at 5:06 p.m. Friday.

Fight victim Karen Welch, 33. of 901 W. Olive taken to Mennonite Hospital at 6:04 p.m. Friday. Births Girard, Edward and Patricia, 74A Northmeadow Village, Normal, a boy born Friday at St.

Joseph's Hospital Medical Center. Lutz, William and Patricia, 1001 N. Western a girl born Friday at St. Joseph's Hospital. McEllin, Robert and Tina, K123 Cardinal Court, Normal, a girl born Saturday at St.

Joseph's Hospital. Anderson, Terry and Sheri, 817 W. Mill a boy born Friday at Brokaw Hospital. HEYWORTH Ellis, Bradley and Kimberly, a girl born Saturday at St. Joseph's Hospital Medical Center, Bloomington.

PAXTON Gooden, Charles Jr. and Kathy Sue, a boy born Saturday at Gibson Community Hospital, Gibson City. Court Notes. McLean County Circuit Court ASSOCIATE DIVISION Revoked license Charles Sallis, 28, Chicago, posted $100 to appear May 5 on charges of driving while license is revoked and speeding. housing market of mortgage money at a time of potentially great need, since members of the post-World War Two baby boom are now reaching the prime home-buying ages.

"Every homeowner has a stake in money being available for housing," he said, warning that continued shortages of mortgage money could destroy the housing market and cause existing equities to shrink. Problems He and Paul A. Schosberg, president of the Savings Association League of New York State, conceded that the basic problems were inflation and economic uncertainty, and said that until these are reduced the thrift industry wouldn't be able to meet demand. For the next few months at least, said O'Connell, mortgage money will be "very, very Asked why thrifts don't seek higher rates for depositors, O'Connell replied that such a course "would only make matters worse by pushing mortgage rates higher and aggravating the current heavy ressure on thrift institutions' Instead, he. Schosberg and other thrift officials seek to restrain the MMMF activity through a three-point program they hope will be considered by the House Banking Subcommittee on Domestic Monetary Policy, which begins hearings on MMMFs April 8.

They seek to subject the MMMFs to the same interest-rate limitations that now govern money market savings certificates at all depository institutions, such as savings associations and banks. Next. they would extend general reserve requirements to the funds which, said O'Connell. "would make them part of the monetary policy system and provide greater stability and safety for Finally, they would require the funds to invest a portion of assets in shortterm U.S. government securities, help fight inflation and reduce the cost of federal borrowing." Such a portfolio.

O'Connell claimed. would reduce MMMF yields and reduce also the potential for major savings losses at thrifts. as well as lowering Treasury bill rates by increasing demand for them. "That in turn would reduce the institutions' cost of money market certificates and also have a modest benefit in helping efforts to bring the federal budget into Asked about the alternative of seeking higher rates on interest paid by thrifts. O'Connell said it would "only make matters worse by pushing mortgage rates higher and aggravating the current heavy pressure on thrift institutions' earnings.

What is needed, he and Schosberg said repeatedly, is a return to a noninflationary environment that would encourage people to save. They indicated they might seek approval to offer tax-shelter, with the tax savings to grow the longer the money was left on deposit. In order to support housing, said Schosberg. "we have to have a pool of predictable funds, not "hot money going in one door and out the next. What exists, he said, is only "a pool of uncertainty.

Holy Week services set in Wenona Extend WENONA (PNS) Churches in Wenona have scheduled Holy Week services. A7 p.m. service Maundy Thursday at St. Mary's Church will include First Communion for a class of four and the adoration of the blessed sacrament until 10 p.m. On Good Friday, stations of the cross will begin at 3 p.m.

At 7 p.m. there will be special prayers, the unveiling of the cross, and Holy Communion. Saturday at 6 p.m. will be the blessing of the paschal candle, Easter water, and renewal of baptism promises. A Mass will be at 6:45 p.m.

Easter Sunday Masses will be at 7:30 and 9:30 a.m. United Presbyterian Church members will have a Maundy Thursday service at 7:30 p.m. at the Presbyterian Church in LaRose, and Good Friday service at 7:30 p.m. at the Presbyterian church in Washburn. Easter Sunday service will be in the Wenona church at 11 a.m.

Zion Lutheran Church will observe Good Friday with Communion at 7:30 p.m. Easter Sunday service will be at 8:30 a.m. At Bethany Lutheran Church, First Communion for the confirmands, joined by the congregation, will be at 7 p.m. On Easter Sunday, a service will be at 8:30 a.m., followed by a breakfast served by the Luther League. St.

John's United Methodist Church will have Communion at 6 p.m. Maundy Thursday. Easter service will be at 6 a.m., followed by a breakfast served by church youth. Bloomington Normal Deaths Agnes Nickrent The funeral of Agnes J. Nickrent, 54, of 1001 N.

Fell Ave. who died Friday, will be at 9:30 a.m. Monday at Main Memorial Home, and at 10 a.m. at Epiphany Church, Normal, with burial in St. Mary's Cemetery.

Visitation will be from 3 to 9 p.m. today at the memorial home, with an 8 p.m. prayer service. Her age was given incorrectly in Saturday's Pantagraph. Lillian Dykstra Lillian M.

Dykstra, 74, of 107 S. Parkside Normal, died at 1:50 a.m. Saturday at Brokaw Hospital, where she had been a patient weeks. Her funeral will be at 3 p.m. today at Stubblefield Funeral Home, the Rev.

Stephen Dixon officiating. Burial will be in Oakwood Cemetery, Allegan, Mich. Visitation will be an hour before the service. She was born Sept. 7, 1906, in Morea, Crawford County, a daughter of Elmer Landa and Anna Alice Willis Green.

She married Gerald O. Dykstra on Sept. 4, 1935, in Ann Arbor, Mich. He died April 24, 1970. She was a member of First United Presbyterian Church of Normal, Sigma Kappa, Kappa Beta Phi, Phi Kappa Delta, Letitia Green Stephenson Chapter of DAR, and was a former regent of Sarah Caswell Angel Chapter of DAR in Michigan.

She was a past member of the state executive board of the DAR. She was a 1927 graduate of Illinois Wesleyan University and a 1930 graduate of the University of Michigan law school at Ann Arbor. She and her husband wrote several textbooks on business law that were used in colleges of commerce. She taught at Ohio University College of Commerce, lectured at the University of Michigan School of business administration, and was a trader in a brokerage house from 1930 to 1935. Benjamin B.

Farris The funeral of Benjamin B. Farris. 76. of 605 Pine Normal, who died at 3:50 p.m. Thursday at Americana Healthcare Center, Normal, will be at 11 a.m.

Monday at Metzler Memorial Home, the Rev. Glenn V. Manis officiating. Burial will be in East Lawn Cemetery. Visitation will be from 3 to 6 p.m.

today at the funeral home. Wade Barney Masonic Lodge will have masonic rites at 6 p.m. Mr. Farris had been a desk sergeant at Bloomington Police Department, retiring May 15, 1954, after 25 years with the department. After his retirement, he was a merchant policeman for six years and then was a guard at McLean County Bank for three years.

He was born Sept. 11, 1904, in Frankfort. a son of John Wesley and Laura Byers Farris. He married Hazel Tedrow on July 28, 1923, in Bloomington. She died Sept.

2, 1960. He married Lydia Auth on Feb. 10, 1961, in Bloomington. She survives. Also surviving are two sons.

Norman E. Farris, R.R. 1, Towanda: and John B. Farris, 117 Eastview Drive. Normal; a sister, Georgia Saunders, McLean County Nursing Home; five grandchildren; and five great-grandchildren.

Four sisters preceded him in death. Mr. Farris was a member and past master of Wade Barney Masonic Lodge, and a member of Bloomington Consistory and the Policemen's Benevolent Association. Minonk churches set Easter activities MINONK (PNS) Easter activities will include a bake sale. Maundy Thursday services and a sunrise service Easter morning.

The Easter bake sale, sponsored by the Altar and Rosary Society of St. Patrick's Church, will begin at 10 a.m. Saturday in the parish hall. Coffee and donuts will be served from 9 to 10 a.m. The United Church of Christ will host a Maundy Thursday service at 7:30 p.m.

Communion will be served. The Maundy Thursday service at the Presbyterian Church will be at 7 p.m. The youth group of the Presbyterian Church will sponsor a sunrise service Easter Sunday beginning at 6:30. Breakfast will be served in the church basement. Firemen to hear about hazardous materials ELLSWORTH (PNS) Illinois State Police trooper Larry Schaefer will speak at the McLean County Firemen's Association meeting at 7:30 p.m.

Thursday at LeRoy fire station. Schaefer will talk about the transportation and handling of hazardous materials. Central Illinois Deaths Clyde W. Rupert Lena Aberle DWIGHT (PNS) Clyde W. Rupert, 85, R.R.

1, died at 6 p.m. Saturday at St. Mary's Hospital, Streator. Visitation will be from 7 to 9 p.m. Monday at Von Qualen Funeral Home, with a memorial service at 8 p.m., the Rev.

Richard M. Newhall officiating. Burial will be in Derry, Pa. He was born Oct. 20, 1895, at Blairsville, a son of John and Sarah Rupert.

He married Sarah E. Bigger Dec. 30, 1960, at Dwight. She survives. Also surviving are three sons, Walter and Robert, Latrob, and Clyde Lincoln, five daughters, Sara Jane Crawford, Betty Lester and Shirley Pepper, all of Derry, Mary Alice Sanger, Anaheim, and Nancy Bilby, Bell Garden, a brother, Emil, Latrob, 25 grandchildren and 15 great-grandchildren.

He was a retired railroad employee. A. Dean Dilkey MACKINAW (PNS) A. Dean Dilkey, 74, 106 W. Fast died at 7:05 a.m.

Saturday at his home. He had been in ill health for seven years. His funeral will be at 2 p.m. Monday at Mackinaw United Methodist Church, the Rev. Don Doty officiating.

Burial will be in Mackinaw Cemetery. Visitation will be from 6 to 9 tonight. He was born Jan. 8, 1907, at Emden, a son of William and Laura Preston Dilkey. He married Hilda Sinn on Nov.

12, 1930. at Mackinaw. She survivies. Also surviving are a son, Dan. Mission Biejo, two daughters, Pat Simpkins, Bradley, and Marge Thompson, Rockford: a sister, Minnie Coburn.

Pekin; a brother, Clifford, Pekin; and nine grandchildren. A brother and a sister preceded him in death. He retired in April 1969 after 40 years at Caterpillar Tractor where he was a supervisor of final inspectors. He was a member of Caterpillar Retirees Club. Mackinaw United Methodist Church, where he had been a lay minister for 17 years, Methodist Men's Club.

Mackinaw Historical Society, and was a former member of Mackinaw Village Board. Memorials may be made to the church or the historical society. Former press secretary Hagerty dies BRONXVILLE, N.Y (AP) James C. Hagerty, chief press spokesman for President Dwight D. Eisenhower and retired vice president of the American Broadcasting died Saturday.

He was 71. Hagerty, who suffered a stroke before his retirement from ABC in 1975. had been in good health in recent years, but went to Lawrence Hospital on Friday afternoon after complaining of stomach cramps. His son, Bruce, said the cause of death was not immediately known, but his father had suffered a severe hemorrhage. Hagerty, a native of Plattsburgh, N.

was an Albany correspondent for the New York Times when he was hired by the late Gov. Thomas Dewey as an executive assistant. He served President Eisenhower as press secretary and confidante from 1952 until Eisenhower left the White House in early 1961. Hagerty then joined ABC as a vice president. "I served my term, did the best I could, and was glad when it was he said as he left the White House.

Son of a newspaperman, Hagerty was a political reporter for the Times for eight years. He joined Eisenhower after the general's 1952 nomination, and became especially close to Eisenhower after the president suffered a heart attack in Denver in September, 1955. It was Eisenhower's decision, Hagerty said, to release full details on his condition and the progress of his recovery. Hagerty was widely praised for holding five daily news conferences while the president recovered. It was the first time the American people been told so much about a president's illness.

Hagerty was one of the best known presidential press secretaries, and was considered one of the strongest men to hold the job. Eisenhower admitted that he didn't read the papers much and Hagerty, to a large extent, was considered the president's eyes and ears. Hagerty said the last two years of Eisenhower's presidency, when the president traveled the world on missions of personal diplomacy, were the most interesting and exacting. As presidental press secretary, he initiated the practice of permitting news conferences to be recorded for television. The first "live" television news conferences were under Eisenhower's successor, President John F.

Kennedy. Hagerty joined ABC three days after Eisenhower left the White House in January, 1961. TREMONT (PNS) Lena M. Aberle, 92, Eureka Apostolic Christian Home, formerly of Tremont, died at 3 p.m. Saturday at the nursing home.

Her funeral will be at 10 a.m. Tuesday at Apostolic Christian Church of Tremont, with ministers of the church officiating. Burial will be in Apostolic Christian Cemetery, Morton. Visitation will be from 2 to 4 p.m. and 6 to 9 p.m.

Monday at Davis Mortuary, Tremont. She was born Nov. 8, 1888, in Mannheim, Germany, a daughter of John and Susan Louser Menold. She married August Aberle May 5, 1911, at Morton. He died in 1927.

Surviving are two daughters, Anna Aberle, Tremont, and Elizabeth Aberele, Morton; five sons, Albert, Emil, Walter and 1 Ernie, all of Tremont; and Vernon, Provo, Utah; a sister, Anna Roach, Princeville; 13 grandchildren and 18 great-grandchildren. Three daughters, three brothers, two sisters, three half brothers, a half sister and a grandchild preceded her in death. She was a member of Apostolic Christian Church of Tremont. Memorials may be made to the Eureka Apostolic Christian Home. Troy Wilham.

19. of 5 Normal, posted $100 to 29 on charge of possessing marijuana. Disorderly conduct Terry Hodgson. 25. and David Olsen.

22, both of 303 S. Leland and Johnny Yelliot, 25, of 210 S. State St. each posted $35 to April 28 on charge of disorderly conduct. Marijuana, alcohol Lester Simmons 32.

of 32 Norwood Drive. Normal. posted $35 and his driver's license to appear April 28 on charges of possessing less than 2.5 grams of marijuana and illegal transportation of alcohol. Alcohol Michelle Mudd. 22.

of 2208 Todd Drive posted $200 to appear April 28 on charge of driving while intoxicated. Trespass, criminal damage Reginald Curry, 29, of 1306 W. Locust St. posted $100 to appear April 28 on charges of trespassing and criminal damage to property. Alcohol Michael Taylor, 27, Peoria, posted $100 and his driver's license appear April 28 on charge of driving while intoxicated.

Alcohol Craig Colley, 20. Champaign, posted $35 to appear April 28 on charge of illegal consumption of alcohol. Theft Linda McDowell. 24. of 708 W.

Locust St. issued a notice to appear April 20 on charge of theft of whiskey, valued at $7.89. from the Kroger Store. 1550 E. College Normal.

Fleeing and eluding police Randy Sampson. 20, of 324 E. Vernon Normal, posted his driver's license to appear May 1 on charges of fleeing and eluding police and illegal transportation of alcohol. Alcohol Michael Rogala, 20. of 310 Watterson Towers.

Normal: Ronald Brackenbury, 20. and William Burger III. 19. both of 324. E.

Vernon Normal: and Dean Pfingsten, 19. of 309 Watterson Towers. Normal, are each to appear May 1 on charge of illegal transportation of alcohol. Rogala and Burger each posted $35. Brackenbury posted his driver's license and Pfingsten posted a bond card.

Battery Gary D. Smith, 28. Stanford posted $200 for April 29 appearance on charges of battery and criminal trespass to land. Speeding David DeVore, 34. Lexington posted $100 for April 28 appearance.

Theft, cannabis Benjamin Bucher, 19. Flossmoor, posted $100 for April 27 appearance on charges of theft of $1.69 trash bag from White Hen Pantry, 207 Broadway and possession of cannabis. Hospital Notes FAIRBURY HOSPITAL. Admitted Koerner, Henry, Cullom Coldren. Dana.

Colfax Singer, Odette, Strawn Dismissed Hills. Edward. Cullom Williams, Barbara, Fairbury Ackerman, John, Thomasboro Gould, Deborah and baby girl, Flanagan Close, Martha, Chatsworth Jupin, Sue, Forrest Skinner, Mary, Strawn Sapp. Steven. Fairbury Gilman, Emily, Fairbury Edelman, Rosetta and baby boy, Cropsey Slagel, Trent, Pontiac, transferred to Carle Foundation Hospital, Champaign Murray, Amanda, Fairbury GIBSON COMMUNITY Admitted Shields, Tracy.

Gibson City Dickey, Larry, Gibson City Dismissed Bakel, Wilfred. Sibley Haskins, Jill Ann, Paxton McKibben, Larry, Chatsworth Waters, June, Foosland Meredith, Chalis and baby birl. Foosland PONTIAC: ST. JAMES Admitted Barnard, Henry, Chenoa Stewart. Connie, Fairbury Daniels, Gladys, Pontiac Paris, Mary, Dismissed Corman, Loren, Pontiac Ruff, Lettie, Pontiac Wargo, Betty, Graymont, transferred to St.

Francis Hospital Medical Center, Peoria. Verdun, Lawrence, Odell Clarke, Nancy, Pontiac Pike, Henry, Chenoa Craig, Carol, Pontiac Rawlings, Margaret, Saunemin Laker, Michael, Pontiac Berglund, Robert, Odell Brackney, Cora, Pontiac Illyes, Mildred, Pontiac Roy E. Sampson LINCOLN (PNS) Roy E. Sampson, 90, a resident of Lincoln Christian Nursing Home, formerly of rural Greenview, died at 8:48 a.m. Saturday at the nursing home.

His funeral will be at 10:30 a.m Monday at Greenview Christian Church, the Rev. Larry Williams officiating. Burial will be in Elmwood Cemetery, Greenview. Visitation will be from 5 to 8 tonight at Mott and Henning Funeral Home, Athens, and from an hour before the funeral at the church. He was born Sept.

27, 1890, near Greenview, a son of Stephen A. and Artilissa Leach Sampson. He married Laura J. James on June 18, 1918, in Springfield. She died in 1972.

He was also preceded in death by a son, two brothers, three sisters, and a grandchild. Survivors include a son, Kenneth. rural Greenview; a daughter, Beverly McAllister, Danvers; 12 grandchildren. and several great-grandchildren. He was a member of Greenview Christian Church, Lawrence Rayburn American Legion Post No.

116, Greenview. He was a retired farmer. Memorials may be made to Lincoln Christian Nursing Home. Robert Kendall CLINTON (PNS) The funeral of Robert Michael Kendall, 25. of 603 E.

Clay who died at 6:47 p.m. Friday at Dr. John Warner Hospital, will be at 1:30 p.m. Tuesday at Pullen-Boos Funeral Chapel, The Rev. C.

Don Ferrill officiating. Burial will be in Long Point Cemetery, Wapella. Visitation will be from 7 to 9 p.m. Monday. He was born in Feb.

11. 1956. In Springfield, a son of Hubert Ray and Wanda June Bell Kindall. He married Debra Spaulding in 1974 in Peoria. Also surviving are his parents; a daughter Jennifer Joann; his maternal grandparents, Mr.

and Mrs. Jacob Wiessing. Chatam: a brother. John Joseph, Clinton; and two sisters, Debra Rae Stewart, Clinton, and Julie Elizabath McConnell, Palmsdale, Calif. He was preceded in death by his paternal grandparents.

He was a member of St. John's Catholic Church. Memorials may be made to the Ministry of Criminal Justice. Madison Miller EUREKA (PNS) The funeral of Madison Glen Miller, 75, 106 S. Calendar Eureka, who died Friday will be at 10:30 a.m.

Monday at Otto-Argo Funeral Home, Eureka, the Rev. Marvin Cheney officiating. Burial will be in Olio Cemetery. Visitation will be from 5 to 8 tonight at the funeral home. He was born Sept.

4, 1905, in Hiawatha, a son of James and Clara Bohlen Miller. He married Florence Schilling on March 9, 1932, in Roanoke. She died Nov. 20, 1978. Surviving are a daughter, Nancy Keller, Eureka; a sister, Bessie O'Marah, Eureka; and a grandson.

He was a member of Eureka Presbyterian Church and was a lifetime member of Modern Woodsmen, Eureka Sportsmen's Club. He was a rural mail carrier for 49 years, retiring in 1973. Memorials may be made to Eureka rescue squad. Helen Vollstedt PONTIAC (PNS) Helen Vollstedt, 57, of 106 Huber St. died at 7:45 p.m.

Saturday at St. James Hospital. She was taken to Raleigh J. Harris Funeral Home..