Tulsa World from Tulsa, Oklahoma • 25

Mt TULSA WORLD Thursday ((September 26 1991 to Business Sports 5 to A BUSINESS BRIES Market Watch Dow Dow Jones Industrials Oil West Texas Intermediate Dollar In Yen loidjll tCbmex current contract 13322 302102 $2221 35280 I 90 Tulsa World Chart Stocks Off Slightly In Quiet Session The stock market pulled back a bit Wednesday showing little fol low through from Tuesday's strong close The Dow Jones average of 30 industrials up 1856 on Tuesday slipped back 805 points to 302102 Interest rates rose slightly in the credit markets putting yields on long term Treasury bonds at around 789 percent General Dynamics gained 3 to trading at its highest levels since 1989 The company said it expects its third quarter earnings to be better" than mean forecast Upjohn the volume leader among Big Board issues jumped to 47z The pharmaceutical company has been the subject of recurring takeover speculation in recent years Retailing stocks were mostly lower amid worries about pros pects for consumer spending as the industry approaches its pivot al fall and Christmas selling sea son Wal Mart Stores dropped 1 to 477h Gap Inc to 44 The Limited Inc to 25 Wool worth to 28 mart i to 41i and JC Penney to 49 In left photo Rick Carr inspects the glass recycling hopper at Bassichis Co in Sapulpa In right photo Carr checks the finished product MIMMiKE'j: EMMMIIMM UStezr KJ wMM liHl 1 If flw Mn lDL eil i iW 'KlBk wOS 'vWlkWaJ G' SSML Bks oiilBBSiilite Crushed Glass Reflects Profit By Mitch Maurer World Staff Writer If ever noticed the reflection of highway stripes at night chances are noticed the work of the Sapulpa firm Bassichis Co Workers in the plant crush clean and separate about 1000 tons of glass a week and resell it to other firms manufacturing the paint for highway stripes fiberglass insulation bottles and even filters for kidney dialysis machines The firm deals worldwide having recently shipped two barges of glass to Indonesia "If someone wants glass cullet we re your said Rick Carr plant manager is usually some glass in just about anything According to dictionary is broken or refuse glass usually added to new material to facilitate melting making glass Headquartered in Cleveland Ohio Bassichis has been dealing glass recycling since 1896 The company opened its Sapulpa division almost seven years ago Carr said the company searches worldwide for large amounts of glass He recently had 1500 tons shipped in from Michigan because a purchaser in the Tulsa area needed it Once the glass is shipped in by truck or rail Bassichis workers run machines that crush it and clean it The glass is moved on a conveyer belt where magnets pick up any metal particles in the cullet The material is then sorted according to size If a customer wants 1000 tons of inch diameter glass cullet Bassichis will get it The biggest buyer of glass is the fiberglass industry Carr said some states are experimenting with adding cullet to asphalt used making roads and parking lots Locally the company gets up to 500 tons of glass a week from the Tulsa ord Glass PJant through a middleman Bassichis also buys glass from Liberty Glass in Sapulpa and Anchor Glass "We buy mostly reject he said "We have had a lot of individuals call and ask if we will take their glass but we really buy from the Carr said the company has been thinking about instituting a system to collect glass from individuals but has no firm plans yet He said Bassichis is also dabbling in purchasing broken glass from centers that collect glass from the public Orders Home Sales Decline Associated Press WASHINGTON actory orders for durable goods and sales of existing homes both fell in Au gust according to reports Wednesday that raised concern about the sectors that had been seen ps leading the economy out of recession reluctant recovery does not look too durable at the mo said John Albcrtine head of a Washington economic forecasting firm Daryl Delano an economist with Cahners Economics in New ton Mass concurred reason to fear the recovery has he said But Michael Boskin chairman of the Council bf Eco nomic Advisers told reporters the economy was growing in the July September quarter and played down the August decline in durable goods orders Noting that orders posted a rec ord gain in July Boskin said the two months taken together reflect solid He acknowledged however a need see an im provement in the consumer sec tor" The Commerce Department said orders for durable goods fell 38 percent to a seasonally ad justed $1259 billion from $1308 billion in July A sharp drop in transportation orders led the de clines in most major categories have severe doubts about whether the surge in manufactur ing can be sustained given the drop in consumer confidence and the weakness in domestic auto mobile Albertine said The New Vork based Confer ence Board reported Tuesday that its widely watched consumer con fidence index dropped in Septem ber for the third straight month At the same time sales of North American built vehicles contin ued to fall below year ago levels The National Association of Realtors on Wednesday said sales of existing single family homes fell 21 percent in August to a seasonally adjusted annual rate of 325 million down from 332 mil lion a month earlier The report also showed that sales in July actually plunged 75 percent steeper than the 67 pcr See Orders on 2 bi iko Goods 10) New orders BiHlons of dollars seasonally adjusted 132 128 iW ii BIB he 76 1 1 HI I 2 A A 1990 1991 Aug 90 July Aug 91 1 1290 1 1308 1 1259 Source: US Dept ol Commerce Existing Home Sales Seasonally adjusted annual rate millions of units III SON A A 1990 1991 Aug July Aug 91 341 I 332 325 Source National Association ol Realtors AP Sun Company Inc Names Management 1 Sun Company Inc officials an nounced a new management team as part of the consolidation of Sun Refining Marketing Co David Knoll was named group vice president of refining and marketing Robert Writz pr was named group vice presi dent of coal real estate interna tional exploration and productionmd new business ventures Rob ert Aiken Jr was named vice president of finance Patrick foggins was named senior vice president of environmental and public affairs Bill Rutherford jvas named senior vice president pf human resources and adminis tration and Donald Walsh was appointed senior vice president find general counsel 1 The appointments effective Oct 4 follow a recent Sun an nouncement that the corporate staff and Sun Refining Market ing management structures would be combined under the Sun Company name I Yields Lower on Notes At Treasury Auction i WASHINGTON Yields on five year Treasury notes fell in Wednesday's auction to the lowest level in 4 years The average yield was 705 per cent down from 737 percent at the last auction on Aug 28 It was the lowest rate since five year notes averaged 673 percent on eb 25 1987 The poles will carry a coupon interest rate of 7 percent with each $10000 in face value selling for $997920 A total of $929 billion in notes were sold out of bids totaling $2979 billion Abagnale Wife ile Chapter 7 Bankruptcy rank Abagnale who turned a career passing bogus checks into a career passing on advice to stop bogus checks filed for bankruptcy in Tulsa I Abagnale and his wife Kelly Welbes Abagnale said they had $16 million in debts and $308752 in assets when they filed Chapter 7 bankruptcy earlier this month in Tulsa By the age of 21 Abagnale had cashed $25 million in bogus Checks he said He spent about five years in prison in the early 1970s before he was paroled with the condition he conduct free anti fraud seminars and workshops for bank tellers for five years Now in his mid 40s Abagnale had developed a business as an anti fraud consultant to banks dnd federal agencies roin Staff Wire Reports Oklahoma ields Catch Up in Time for all By Mark Lee World arm Editor Most of fields and lawns are catching up from a dry July in time for the fall growing and planting season accord ing to the Oklahoma Agricultural Statis tics Service The current crop period began Sept 1 So far Tulsa has received 615 inches of rain almost double the normal rate of 437 inches Most weather watchers consider cumu lative rainfall on an annual basis from Jan 1 By that measure Tulsa is dry with 2187 inches of rain received compared with the normal of 3011 inches arm record keepers however consider rainfall's relationship to growing crops A timeliness can sometimes make up for reduced amounts of water The summer growing period is measured from March 1 to Aug 31 During that time Tulsa received 1342 inches of rain com pared with normal rainfall of 2352 inches That left local crops lawns and gardens with 101 inches less rain than they usually get in the summer when needed most But the tremendous fall rains are bene fitting crops and livestock the statistics service said in this crop weather summary Row crops such as soybeans and grain sorghum were in good condi tion Alfalfa hay was rated good except for north central fields which missed the re cent rains Cattle were reported in good condition Pasture conditions continue to improve with forage rated 98 percent of normal but the same army worms that have hampered newly planted wheat are problems in some pastures Northeast Oklahoma ended the summer growing period with about 48 percent of its normal rainfall with east central Oklaho ma rated 83 percent of normal and the southeast also dry at 52 percent of nor mal This week northeast Oklahoma's rainfall is 203 percent of normal east central is 69 percent of normal and southeast counties are 68 percent of normal The rain has caused some delay in fall harvests Grain sorghum is 4 percent har vested corn is 87 percent harvested soy beans are 7 percent harvested and peanuts are 100 percent harvested Winter wheat for 1992 harvest is 18 percent planted and 5 percent up to stand Loud Bodies Which Airline Likely to Rattle The Neighborhood Windows? Associated Press NEW YORK If you're both ered by the deafening rumble of jet engines and look skyward for a culprit it may well be Trans World Airlines Northwest Air lines or Delta Air Lines passing overhead They are commercial avia biggest noisemakers Delta leads the industry in the sheer number of aircraft so noisy that federal regulators have or dered them phased out TWA and Northwest are running a tight race over whose fleet has the largest proportion of the loud planes TWA is slightly louder plane for plane figures provided by the airlines show By contrast the quietest car rier is the largest Ameri can Airlines at least when it comes to the ratio of noisy planes versus quiet ones The issue of airline noise got a bit noisy itself earlier this week when Transportation Secretary Samuel Skinner unveiled plans for getting rid of the loudest planes by the end of the century Citizens who want more peace and quiet complain not enough is being done while the industry says hushing the jets will cost an enormous sum the airlines can ill afford In aviation parlance planes known as aircraft are the loud ones that must go aircraft are quieter and will fall within federal noise guide lines Noisier planes the "stage variety that also used to cloud the skies with trails of smoke al ready have been pretty much grounded in this country are the old what used to be known as straight pipe Delta spokesman Neil Monroe said could hear it and see it You could see these huge black streams of smoke coming out of each Delta with 233 of its 492 planes falling into the stage II category has more of the noisemakers than any US competitor But since fleet is one of the largest in the business the proportion of loud planes 474 percent of the total is not as great as that of several rivals TWA apparently leads the field saying 128 of its 202 aircraft 634 percent are of the loud variety course look at the gov ernment's recommendations and act from a spokesman said Wednesday Northwest is not far behind with a 614 percent share of noisy planes in its fleet of 352 Northwest said it too plans to muffle its fleet in accordance with federal rules Although American is one of the most boisterous airlines when it comes to portraying itself as the best it has by far the quietest fleet Just 278 percent of Ameri 600 planes land in the noisy category Some competitors thought they were hearing the wrong numbers when they got claim of having such a quiet fleet do? That surprises said America West spokesman Dik Shimizu whose carrier has 315 percent loud planes and guessed it might be quietest American spokesman Tim Smith replied ahead of New federal restrictions will require domestic MMMBM airlines to phase out noisy aircraft STAGE II aircraft: NOISY STAGE III aircraft: QUIET (within federal guidelines) TRANS WORLD AIRLINES leet: 202 BlBWRB TfiVjPfl Stage two: 128 Stage three: 74 NORTHWEST AIRLINES leet: 352 Stage two: 216 KMiKranr Stage three: 1 36 BmkKB CXSNrnNENlAL CONTINENTAL AIRLINES HBB leet: 331 EByB Stage two: 162 MHRjfl Stage three: 169 EBHBE ZT DELTA AIR LINES BMBBmI leet: 492 BtyJEKfB GGZ Stage two: 233 EMmB eljtxx Stage three: 259 ggffff UNITED AIRLINES UbH leet 480 Stage two: 216 BnAjBfl UniTED sta9e three: 264 USAIR GROUP leet: 387 yrrr Stage two: 164 Stage three: 223 SOUTHWEST AIRLINES BB leet: 121 BlOWM Stage two: 49 Stage three: 72 BHB Al AMERICAN AIRLINES HBM AKA leet: 600 BffKfflB aaXL Stage two: 167 Stage Overhaul Bills Passed WASHINGTON (AP) Two House committees disregarded President wishes on Wednesday by adopting legisla tion that strikes at the heart of the administration's plans to over haul the banking system The Agriculture Committee voted 11 10 in favor of provisions the administration believes would cripple its proposal to lift bar riers to interstate banking And the Energy and Commerce Committee passed 29 12 a bill that preserves the traditional ban on commercial corporations own ing banks It also takes away some of the insurance powers banks obtained under state laws Although the Energy and Com merce bill would as the adminis tration wants permit banks to enter the securities business both the banking industry and the Bush administration prefer a version of the legislation adopted in June by the House Banking Committee Not only does the banking panel version repeal the 1933 Glass Steagall Act which separated the banking and securities industries it also opens the insurance busi ness to banks and allows corpora tions such as ord Motor Co and 1 Sears Roebuck Co to own banks through holding compan ies The provision adopted by the agriculture panel would require branches established in ruralj areas by out of state banks toj lend at least 50 percent of theirJ deposits locally If they do not regulators would be required tot close the branches I The sponsor Rep Glenn English Okla said itj was designed to prevent big city 1 Source: Individual airlines I See Banking on 2 Market Watch 805 02.