University Daily Kansan, March 7, 1984
Page 11
NATION AND WORLD
Market drops; investors fear credit crunch
By United Press International
NEW YORK — The stock market plunged yesterday on investor fears the Federal Reserve might tighten credit to combat a steep slope in the dollar.
Adding to Wall Street's woof was investor concern that inflation will rekindle as the economy continues to gain momentum.
The Dow Jones industrial average skidded 12.67 to 1,152.33. Several analysts predicted it soon would head toward its Feb. 22 low of 1,134.21.
The New York Stock Exchange index lost 0.89 to 90.07 and the price of an average share decreased 32 cents. (969-602) among the 2,006 issues traded
Big Board volume totaled 83,990,000
shares, a bit up from the 69,570,000
Bonds fell and stocks followed after the Fed indicated it was willing to let federal funds stay at high levels, said Robert Colby of Smith Barney, Harris.
Prison official slain by IRA
By United Press International
BELFAST, Northern Ireland — Two Irish Republican Army gunmen killed a Maze prison official yesterday, firing repeatedly through the rear window of his car as the man's wife and child watched after kissing him goodbye on his way to work.
Police said William McConnell, 35, an assistant governor at the prison, was shot in the head by the assassins. He died in the pool of blood and died nearly instantly.
McConnell had just kissed his wife, Beryl, and 3-year-old daughter, Gall, goodbye when the two gunmen ran up to her. The gunmen repeatedly through the rear window.
AS THE GUNMEN escaped, the dying man's child screamed hysterically on the pavement as his wife and her husband in her lap, a neighbor said.
The IRA said McConnell, the 23rd prison officer to be killed in Northern Ireland, was executed because his job was to break the spirit of Republicans who oppose menial work tasks at the
"This was a particularly brutal crime," said an angry police spokesman. "The gunmen showed no compassion for their victim or his
high-security Maze prison outside Belfast.
The guerrilla group, which seeks to oust British troops from Northern Ireland, said in a statement that the new campaign against prison officers.
The statement called the attack "a salutary lesson" to those in the British administration who advocate "a return to a policy of beatings as a means of controlling political prisoners."
BRITAIN'S CHIEF minister in the province, Northern Ireland Secretary James Prior, denied prisoners were involved and described this a sturgeon, and it is."
Ten IRA prisoners died in Maze prison during the 1980-81 hunger strikes staged to win recognition as political prisoners from Britain.
The Prison Governor's Association called an emergency meeting in Belfast to discuss McConnell's killing.
especially because half of the 38 IRA prisoners who staged a mass breakout from the Maze last September are still free.
IRA prisoner Brendan McFarlane
organized the escape. McConnell was
the prison officer who gave Mc-
Farlane a brief description of which
he planned and executed it.
Mefarlane was still at large yesterday and is believed to be connected to the kidnapping of a businessman in Ireland late last year.
Police said McConnell's shooting had been meticulously planned and the gunmen had waited for their victim all night in a house directly opposite his home in a predominantly Protestant neighborhood.
TWO MEN AND a woman held a couple who lived in the house hostage for nearly 10 hours until the prison officer left his home. Police said the killers escaped in a silver-colored car belonging to the couple.
A sobbing neighbor said, "I heard the shots from my kitchen. I cried out, 'Oh no, oh no.' I knew it must have been William."
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