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August 06, 1977 - Image 10

Resource type:
Text
Publication:
Michigan Daily, 1977-08-06

Disclaimer: Computer generated plain text may have errors. Read more about this.

Poge Ten
Lance bares intent
of questionable loan

TH-E ICH(GAN DAILY

Saturday, August 6; 1977

THE MICHIGAN DAILY Soturdoy, August 6, 1977

---------..r.

(Continued frtn Page 1)
of Georgia, of which Lance later
became president.
Lance said he had dealt with
Manufacturers T r u s t for 20
years when he was with a small-
er Georgia Bank, the Calhoun
First National Bank.
HE SAID the bank loan was
approved April 24 and that the
+M
Fermi II
(COntinued rm Page 1
Featured speakers at the noon
rally, located on property adja-
cent to the Fermi II site on
Swan Creek Rd. north of, Mon-
roe, include Ann Arbor physi-
cian Edward Pierce, a former
congressional candidate; and
Harvey Wasserman, a leading
nuclear foe who was instrumen-
tal i n the occupation of the Sea-
brook, N*. ii_ nuclear construc-
tion site last M4ay. Ofver a thous-
and protesters were arrested in
the peaceful demonstration.
Speaking in Ann Arbor Tues-
day, Wasserman compared the.
construction of Fermi II to "the
launching of the second Titan-
ic."
"The idea is absurd to build
on the site after what happened
with the other (Fermi I)," Was-
serman said.

National Bank of Georgia open-
ed a correspondent relationship
with Manufacturers Trust in
May.
One bank typically opens a
correspondent account with an-
other, larger bank to clear
checks and to take advantage
of services the larger bank of-
fers. The smaller bank usually
forgoes interest and, instead,
ta k e s the services without
charge.
Lance said that in seeking the
Manufacturers Trust loan he did
not discuss correspondent rela-
tionships with the bank.
"I WAS MADE aware yester-
day that the Manufacturers
Hanover in an internal document
describing my oan with them
had also made reference to the
hoped-for correspondent rela-
tionship," he said.
But he said the correspondent
account was not made a condi-
tion of his loan, although the
balances in the correspondent
account were referred to with a
percentage.
l~ance said the internal memo
did not state how much Manu-
facturers Trust hoped the Geor-
gia bank would leave on deposit.
But he said the document did
mention a possible "20 per cent
balance of facilities."
ASKED .:WHAT the b a n 1
meant by "facilities," Lance
said he could not comment on
the intent of the bank's docu-
ment.
The comptroller of the cur-
rency, John Heimann, has not
said when he will issue a report
on Lance's finances. Lance said
he met with Heimann yesterday
morning and they discussed only
the Manufacturers Trust loan.

What a kisser
LISA FERGUSON, 15, was selected from among the spectators at Marineland and Games Farm
in Niagara Falls, Ount., to be kissed by Kandu the killer whale. The 6,100-pound mammal planted
a watery kiss on Lisa's cheek.
Gardens offer nature, serenity

Phone employes
reject salary offer

Continued frum Pge t
ers over the last three years
and the unions svant progress
toward a shorter wvork week to
spread jobs among more peo-
ple, retraining an supplemen-
tary pensions for early retire-
ment.
TIlE BELL Sstem's original
offer of Jaly 21 Isas immediate-
ly rejected. It contained variable
wage increases of up to 19.2 per
cent over three years, but made
no mention of better job secur-
ity provisions sought by the
unions.
Weekly wages now range from
$129 for a starting telephone op-
erator in Birmingham, Ala., to
$333.50 for experienced craft
workers in New York City.u

A strike isn't expected to have
any immediate impact on dialed
telephone calls. But company
and union officials say there
would be "a substantial inter-
ruption" of new equipment in-
stallations and repair of existing
equipment, and that the 4.8 mil-
lion average daily operator-
assisted calls would be. harder
to make.
The company's 200,000-mem-
ber supervisory and professional
staff is expected to take over
many of the strikers' jobs in the
event of a walkout.
The contract talks cover Bell's
23 operating companies, along
with the Western Electric Co.,
Bell's manufacturing arm, and
Bell Laboratories.

{Continued Irani Page 3)
interesting plants included the
Red Pitcher Plant and the Venus
Fly Trap - both carnivorous
plants - and the Papyrus t-ee,
which the Egyptians used in
making scrolls.
The Temperate room is next
with plants from Australia, the
Mediterranean and South Africa.
This room is not as warm as
the Tropical Room and less dry.
The Sensitive Plant is the fa-
vorite of most visitors 'in this
room. The plant, when touched,
folds to a fraction of its original
size. Collections Botanist Jane
LaRue said the piant developed
this ability as a protective mea-
sure. She said grazing animals
would brush against the plant
and it would curl to .nary a
mouthful. The animal would as-
some the .plant wasn't worth the
chew - so the Sensitive Plant
hoped-and would munch down
on something else.
THE DESERT ROOM in many
ways is the most interesting. It
contains a vast' assortment of
cacti and flora native to hot
dry climates.
Cacti twisted into ,'izarre
shapes and sizes demonstrate
nature's will to survive. The
Agaue Americana cacti re'em-
bles a monstrous underwater
terror, with its green and yel-
low striped branches shaped like
.i anti auid tentacles .each

ing for an unsuspecting swim-
mer.'
Aside from the sensual stim-
ulation provided for the public
the Gardens fulfill other import-
ant functions as well.
"A university Botanical Gar-
den has a rather special set
of roles in contrast to the usual
botanical gardens," Benninghoff
said. "The University Botanical
Garden needs to serve the Uni-
versity's interest first.
"WE PARTICULARLY .take
care of providing the facilities
for research on living plants and
also provide living material for
teaching purposes," he explain-
ed. "We are one of the resources
to which the teachers and re-
searchers come to get iving
material to work with."
The idea of the Botanical Gar-
dens developed in the late 1t70's
but it wasn't until 1915 that it
acquired its first director. The
Gardens occupied -a portion of
what is now the University
owned Nichols Arboretum.
In 1955 it moved to a site on
Iroquois Road, south of Stadium
and west of Packard.
THEN IN 1958 Frederick Mat-
thaei offered to give the Univer-
sity a tract of land on Dixhoro
Road for the development of a
Botanical Garden. The Univer-
sity accepted.
"The botany department look-
ed over and found this site had
much more to offer in its diver-

sity of terrain and it has a c e
nice brook. Fleming Creek, thaI
rounds down the middle mo;
and two little creeks fted a s
it" Benninghoff said.
(Csstnueds' frmi Pae S
building trades workers d-
dined to spell out specific pro-
posals of the agreement a
though they said wages remsais
the only outstanding issue
James Murphy, chief uti(5n Se-
gotiator, said yesterday that the
council's bargaining commts'sOn
has not decided if it will recom-
mend that the union member-
ship ratify the contract or not
"We (the bargaining commis-
sion) have agreed with the Uni-
versity not to sabotage it, and
let the membership decide." he
stated.
Russel Reister, University per-
sonnel director said the present
wage.. proposal is, "a very fins
decsian withthe University,"
although he added, "I'm nrt
sure thetre's ever a 'final offer'
until a settlement is reached."'
Murphy refused to commen
on the psibility of a stri ke.
but stated "We never hada
contract without striking."
The trades employes are cur'
rently working under the terms
of their previous contract. The
cqntract expired last Sunda',
but was extended on a day-t-
day basis while negotiations
continued.
-VI

I

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