University Daily Kansan, November 10. 1982
Page 3
Consumers benefit from new bank bill
By DONNA KELLER Staff Reporter
The banking industry and financial markets are in a period of transition and "interesting times," a local bank president said recently.
Lymn Anderson, president of the First National Bank of Lawrence, Ninth and Massachusetts streets, said the public is very interested in the industry in the months ahead.
One positive change in the banking industry from a consumer standpoint is a bill signed into law by President Reagan last month, said Anderson.
The primary elements of the Garn-St. Germain Depository Institutions Act of 1982 are the creation of a money-funded institution in the thrift industry's lending powers.
THE FEDERAL Home Loan Bank Board last week directed savings and loans to begin using the new lending powers immediately.
Anderson, who has testified as a community banker before both state and federal legislators about deregulation in the industry and its effect on the community, said the money-fund account would put local financial institutions in direct competition with Wall Street.
"These deposits have traditionally been flowing out of the community to
New York," he said. "This way the deposits stay in the community."
By creating a federally-insured money fund account, local banking institutions will be able to increase their local deposit base and thus broaden their lending base. Anderson said.
SAVINGS AND loans also may increase the amounts of consumer loans for purposes other than housing, and commercial real estate loans under the act. They may offer checking accounts to businesses, interest-bearing checking accounts to local government agencies, and credit for business or farm loans unrelated to housing or construction.
Anderson said the Garn bill was an indication of the deregulation occurring in the banking industry.
He said the Garn bill would put savings institutions in direct competition with banks in lending areas where there had been no competition in the past.
But, he said, an important aspect is that of local financial institutions which could serve as a conduit.
"It should be a positive thing," he said.
Joe Oberzan, vice president of Capitol Federal Savings and Loan Association, 11th and Vermont streets, and John H. Burbank was waiting for specifies of the Garn bill.
Janitor shoots churchgoers for firing him
By United Press International
DETROIT—A convicted murderer, who was sitting in on a hearing to decide whether he should be fired as a storefront chanitor, opened fire with two guns Monday night, killing two women and a man and critically wounding two others, police said.
The Rev. Henry Haywood, 66, said about a dozen people in a meeting at the Abundant Life Christian Church deciding whether custodian John Ellis, 67, would be let go.
Haywood said Ellis had been sitting back listening to complaints. Then when it appeared he would be fired, Ellis shouted, "Everybody has had their say, and now I'm going to have my saw clear and loud."
Investigators said the gunman opened fire in the church "like Wyatt Earp, with two knives" and found the roof of a store next to the church.
Ellis had been hired to maintain six apartments in the church-owned building
The dead were identified as Jeanneta Ruff, 23; James Green, 25; and Sammie Lee King, 55. Critically injured were Freddie King, 26 and her son; and Tyrone Dunbar, 21.
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And the officials are working on promotions, which began yesterday.
Season basketball tickets will cost less this year than last year, but they also will be good for fewer games, department officials said yesterday.
Fewer games included Basketball ticket prices shrink
Richard Konzem, assistant Williams Fund director and former acting ticket manager, said the games during spring training were the best year so that students could save money.
The price for each game has increased from $1.75 to $2. The student tickets are priced at $22, $6 less than last year's tickets. Tickets are good for 11 home games, but last year they were good for 16.
"We were trying to get the price down. Since most students aren't here during break anyway, they shouldn't be coming as long as games they aren't going to see." he said
Tom Hof, ticket manager, said he baped ticket sales would improve this year.
"It's hard to say what ticket sales will be." Hof said. "Last year was a down year, and it's hard to say what the student reaction will be."
The athletic department has already sold 2,300 of 7,000 available student tickets through the All-Sports tickets, merchandise and basketball games and track marks.
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The games during the winter break are included in the All-Sports ticket, he said.
Single-game tickets, which cost $3,
will be available for winter-break
games to students who do not have
All-Sports tickets.
In an effort to promote ticket sales, the athletic department is sponsoring a free intrasquid game tonight and an event at the Kolosavian national team next Monday.
"I hope it will bring out people who do not normally attend basketball games. It will get food for the needy and get us a little PR," he said.
Mike Hamrick, assistant to the athletic director for promotions, said students could attend the game Monday for $1 if they brought a can of food. The food will be donated to needy families for Thanksgiving.
Hof said he hoped the exhibition game would bring in more people.
Season tickets for the 1982-83 KU Basketball season went on sale yesterday. Tickets can be purchased in the east lobby of Allen Field House until Saturday.
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INTRAMURAL SQUASH TOURNAMENT
Entry deadline TODAY:$1.00 entry fee and an unopened can of balls:
5:00 p.m. 208 Robinson
STUDENT SENATE ELECTIONS VOTE
ON NOVEMBER 17-18
Polling Places will be open from 8:30 to 4:30 at the following buildings:
SUMMERFIELD WESCOE UNION
GREEN (LAW SCHOOL)
LINDLEY
Student must bring K.U. ID to vote
(Funded by the Student Activity Fee)
--with coupon
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842-6325
Pharmacists: Farrell Mitchel
Hours:
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Sun. 10 a.m.-6 p.m.
Prices effective thru Sunday, November 14
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Bausch & Lomb Saline Solution
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