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Show THE HERALD, Provo. Utah. Page A2 Thursday, September 27, 1990 World Bank says more funds may be needed - In a new WASHINGTON (AP) Indication of the escalating economic fallout from the Persian Gulf turmoil, the head of the World Bank said today that he may be forced to call upon rich nations to boost their support for the international lending institution by early next year. World Bank President Barber Conable said that if oil prices remain at current high levels over the next three months, his institution would not have enough in existing resources to cushion the shock on the world economy. . Conable's comments represented a change from his position just a few days ago. At that time, he and officials of the bank's sister lending organization, the International Monetary Fund, Insisted that they could handle the economic impact of the Persian Gulf crisis with available resources without tapping rich countries for additional funds. However, as delegates from 154 member countries of the two institutions were holding their annual meeting this week, the price of oil jumped at one point to close to $40. Conable told reporters today that OIL: SOUTER: (Continued from Page Al) the benefit of the doubt. "The lessen of the past decade ... is that we must vote our fears, not our hopes." Molly Yard, head of the National Organization for Women, praised Kennedy for his opposition, telling reporters afterward that his action was a "Profile in Courage," a reference to a book on great Americans written by his late brother, ' President John F. Kennedy. Sen. Howard Metzenbaum, said women's groups and civil rights groups urged him to vote against Souter, but he said "my sense is that David Souter is d a fair and jurist who knows well the weight of the responsibilities which will be placed open-minde- him." upon "I hope I'm not wrong," he added. Sen. Orrin Hatch, chided any Democrats who use a "litmus test" on abortion in opposing Souter. "I do not believe that he will impose his own policy preferences on the American people in the guise of judging." Souter, 51, who spent 12 years on the New Hampshire bench before joining the federal appeals court in Boston this year, would be the 105th Supreme Court justice if confirmed by the full Senate. ' Souter is Bush's first nominee to the high court and the president asked the Senate to confirm him before Monday, the first day of the Supreme Court's 1990-9- 1 term. The only announced opposition to Souter in the Senate was from lawmakers supporting abortion rights. Souter, who would succeed Justice William Bren-nawould swing the court against abortion rights if he voted to overturn the 1973 Roe vs. Wade decision that legalized abortion. n, pro-choi- (Continued from Page Al) taining 590 million barrels; was established in 1975 to ward against potential future oil shortages. The president said he wanted to test the process of drawing down the reserve. He said the country has "sufficient oil to meet current needs," and added that "there is no justification for the intensive and unwarranted speculation in oil futures." Oil prices have skyrocketed to nearly $40 a barrel since Iraq invaded Kuwait on Aug. 2 and the United Nations imposed a trade embargo against Baghdad. Bush's decision marks the first time the government has tapped into the reserve. It comes at a time when the administration says there is not an oil shortage, but as officials are warning the Middle East crisis could result in tight supplies by the end of the year. "We've been suggesting this to him," said Rep. John Dingell, chairman of the House Energy and Commerce Committee. But he said the administration needs to call on West Germany and Japan to also tap their stockpiles. Administration oficials do not use the word gouging, but claim that the price escalation is unwarranted. Bush said Wednesday: "At home and abroad, let me caution those who might take advantage of the current crisis in the Persian Gulf, those who might seek profit by subverting the sanctions, or here at home, those speculators who might try to drive up the price of oil." Oil supplies were reduced by the international embargo against Kuwait and Iraq, following Iraq's invasion of its neighbor. The United States uses more than 17 million barrels a day, about half of it imported. During his confirmation hearings, Souter said he had not made at high levels into 1991, he believed it would be necessary to ask for voluntary contributions from major industrial countries and oil producing nations. That money would be used to make loans to countries especially hard hit by the rise in oil prices and other economic fallouLi from the Persian Gulf turmoil. "If the price of oil stays up and there continues to be turmoil and uncertainty and an impact on the global economy, clearly it will have a major impact on significant parts of the developing world," Conable said. Other officials of the World Bank suggested that the proposed new lending facility would be available if oil prices stayed sheltering, and an American warship fired across the bow of an Iraqi tanker today to force it to stop and submit to a search. The threat against the diplomats' was contained in official statements to the U.S., French and British embassies NOW: anti-aborti- D-N- America." ;The Senate majority appeared to be firmly in Souter's camp, however. Several other Democrats, including four on the Judiciary Committee, announced their support in advance of today's vote. One Souter ally tracking the nomination said he would be surprised if there were 20 votes against the nominee in the Senate. er Air Pollution f, The following information is taken from the Wasatch Front air pollu- tion report compiled by the Utah Bureau of Air Quality. The complete report is available by telephone at (Continued from Page Al) fair that they review any I charges made against me have nothing to hide." Pricr to the primary election, the thick doattorneys issued a cument that reviewed both candidates finances. The report included a detailed report on review on Harmer, and a only ... 100-pa- ge 25-pa-ge Snow. .The attorneys claimed no improprieties on Snow's part, but showed in great detail some of Harmer's problems. A third "anonymous" package arrived only four days (Sept. 7) before the primary election. This package contained additional information which was not included in the attorney's original audit. These are also going to be scrutinized, Bramble said. Documents from the stock transfer company used by Snow have also been obtained and Snow's personal financial records are being reviewed, Bramble said. Snow has asked that upon completion of their review the CPA and tax attorney then make the find- ings available to the media and the four attorneys who &d review of th Snow anci Harmer muni n .mm-i- i ni in Baghdad Wednesday and today. The Iraqi Foreign Ministry today refused to comment on the statement, but Iraqi officials speaking on condition of anonymity said the memo only contained a reminder of an Iraqi law issued when Iraq annexed Kuwait last month which stipulated that those whp provide refuge for foreigners could be punished by death. The officials said the law applies only to Iraqis. The Iraqi statement, first disclosed by Secretary of State James A. Baker IH on Wednesday, was denounced by Western governments today. The Pentagon said a team from a U.S. warship in the Red Sea boarded the Iraqi tanker today after firing warning shots when orders to stop were ignored. The tanker, the Tadmur, was allowed to proceed after it was found to be empty, the Pentagon said. The U.S.S. Elmer Montgomery, a frigate, fired bursts of .50 caliber machine gun fire across the Tadmur's bow, the Pentagon said. A Coast Guard and Navy team FDIC: as of 8 - Residential Areas UTAH COUNTY gooc Salt Lake Weber gooc gocx D7n Downtown Areas S001 Lake gooc goot Ogden..... Overall Air Clanty The air quality for today was good m all areas along the Wasatch . - Forecast calls ? for little change in pollution levels with a clearing index 'J North t; o Provo North Provo kj"don 0-- good oz co Z .. 4- -' P3 air; 5M00i moderate; 101- - 9 unhealtiiful; very- un- o00 and above hazardous. healthful; Abbreviations co - carbon monoxide ozone oz sulfur dioxide so pa - particulates 199 (Continued from Page Al) jng does no belong in the canyon bill Qndy Shogm Washington tor of the Southern Utah Wilder-ba- it ness Alliance, said the canyon and mining law belong in separate leg- islation because they are unrelated sues. She added that tampering mtl with wording could question past sand and gravel practices of the Forest Service and caf gM .Itis (Continued from Page Al) The minimum level considered safe is $1.25 per $100. The level of reserves is at the lowest point in the fund's history. The congressional General Accounting Office has warned that if the economy dips into a recession, the fund could be wiped out and require a taxpayer bailout. On Wednesday, a senior Treasury Department official and Sen. Donald W. Riegle, chairman of the Senate Banking Committee, urged enactment of legislation giving the FDIC power to raise premiums higher and more often. A measure to do that passed the House last week. Riegle, and Treasury Undersecretary Robert R. Glauber said Congress must enact one before it adjourns early next month. Meanwhile, Glauber gave Rie-gle-'s panel an early look at a more comprehensive plan to reform the banking system, which the administration expects to propose for action next year. It would raise deposit insurance fees for reckless banks and limit the number of insured accounts per depositor. Glauber also suggested that the adrninistration may seek to force banks to conduct commercial real estate lending through separate affiliates that would not use insured deposits. 200-29- The Utah County residential area reading is taken from the Lindon morutorag station. The State of Utah has identified the following as primary sources of pollutants in Utah County: co vehicles; oz - vehicles and gas vapors; and pa heavy industry. eljc Vails Herald Shogun said of "but let's not cloud the water by putting this with tne wild and scenic river designation." Federal officials supported all th-- ee bills wholeheartedly. They 531(1 "wild" designation would beneit endangered humpback chub and Colorado squawfish that inhabit the canyon waters, as well as razorback sucker( wmch is ing considered or inclusion on the endangered species list, BLM statistics show about 10,900 , Westwater Canyon, with pp!-20 rafting outfitters carrying more than 4,000 oassengers a year Subcominittee Chairman Bruce voiced similar con- Vento, bill cemSi yet conciuded Garn-advantage of already being passed m the Senate and could receive the president's signature soonest HIGHEST QUALITY LOWEST PRICES distribution to needy countries. However, they stressed that discussions on this matter remained at a preliminary stage. Both the IMF and World Bank had sipaled earlier this week that they were ready to provide significant economic support to hardhit then boarded the tanker, which was heading south out of the Gulf of Aqaba into the northern Red Sea. More than 1,400 hundred ships have been intercepted since the United Nations imposed an economic embargo on Iraq. More than. 125 ships have been boarded, 110 of them by U.S. vessels and 15 by the ships of other navies. At the United Nations today, the emir of Kuwait thanked the world" community for its support in his nation's fight against Iraq's "naked, brutal aggression" in invading and occupying his country. As Sheik Jaber spoke to the General Assembly, the Iraqi delegation stormed out. In Tokyo, Prime Minister Toshiki Kaifu today unveiled a plan to dispatch Japanese military personnel overseas for the first time since World War II, but he said they would be unarmed and kept away from combat. The proposal, which must be approved by the Japanese parliament, calls for the establishment of a group of military and civilian personnel to participate in U.N. g activities. ed - 1949-198- issue, ORANGES Mi Month, carrier 6 Months, carrier One Year carrier Kaifu acknowledged criticism that Japan is supplying little more than money to the U.S.-le- d force deployed in the Middle East in response to Iraq's invasion of Kuwait. Kaifu is to travel Friday to the United States, where some of the harshest criticism has been voiced. Calif. APPLES CARROTS one IU.U3 Nash. Delicious PEPPERS ftiiiiirini'frB unui.iri.ui J en nniDCCDiilT one unHruuun sunfclsi. ruay red. Each .J9 Sum Cine. id. Ai "fiiAMT QUALITY MEATS -- QC IIHftll MEAT LUHun litem Ruddlo Silcfri CORN DOGS MOTOR ROUTE AND RURAL DELIVERY RATES' Month, carrier 6 Months, carrier One Year carrier 1 $ 8 50 $51 00 $102.00 "Rates may risky loans or operating with low capital more for" insurance than conservatively run banks. 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Second Ciass Postage Paid at Provo. Utah U S P S. ID 143-06- 0 Published Daily by SCRIPPS LEAGUE NEWSPAPERS, INC. 1555 North Freedom Blvd. P.O. Box 717 Provo, Utah 84603-071- 7 KIRK PARKINSON. Publisher N. LaVERL CHRISTENSEN, EditorEditor Emeritus a probiein," toe mining (Index) Hlgbs mvo.............co. CANYONSl a.m. were as Officials said that donations raised by the crisis group, which is headed by Treasury Secretary Brady, might be funneled to this new lending facility for Glauber said the administration favors charging banks making 373-95- ndiUons ld 3 Flavors . up his mind on Roe vs. Wade. But stance, given Bash's lawmakers were suspicious, en. Bill Bradley, said Wednesday in announcing his opposition to Souter that overturning Roe vs. Wade would "return us to the day when illegal back-alle- y abortions put the lives of thousands of women at risk." "That's a chance I'm not willing to take," he said. Sen. Barbara Mikulski, one of two women in the Senate, said "we must fear the worst" because "Judge Souter refused to talk about whether, and how, the Constitution protects the women of to work with the Gulf Crisis Financial Coordination Group, the steering committee of donor countries unveiled by President Bush in his Bank speech to the IMF-Woropening session on Tuesday. U.S. fires warning shot at Iraqi tanker By The Associated Press Iraq has threatened to execute U.S. and other diplomats unless they hand over Westerners they're THRU SATURDAY TUESDAY PRICES EFFECTIVE 99 |