0 Page 2--Thursday, September 11, 1980-The Michigan Daily Re gulation to limit banks' giveaways From the Associated Press You may find fewer giveaways at your local bank, and persuading a friend to deposit money won't earn you a bonus any more, under rules announ- ced by a federal regulatory committee this week. The committee imposed new restric- tions on the premiums-the clocks, the toasters, the pots and pans-that many financial institutions have been using to attract customers. It also outlawed the "finders fees," which were particularly popular in the Northeast. These fees-paid not to the depositor but to a third party-were often worth hundreds of dollars in cash or in merchandise like television sets. AT THE SAME time, the regulators set a 5/ per cent limit on the amount of interest that can be paid on NOW ac- counts-interest-bearing checking ac- counts-and decided against an im- mediate change in the maximum allowable 'interest rates on passbook savings accounts. The regulations-which take effect Dec. 31-will mean that banks and savings and loan associations will start stressing service instead of gifts, ac- cording to industry officials. "Banks are going to be offering packages of services," said Barbara Harrelson of the American Bankers Association. They might, for example, offer a debit card to anyone who opens a NOW account. A debit card looks like a credit card but is used instead of a check; the money is subtracted from your account as soon as the record of the transaction clears the bank. The rules were issued Tuesday by the Depository Institutions Deregulation Committee, which was set up earlier this year to supervise the gradual deregulation of the banking industry. SIN BRIEF OUR APOLOGIES TO ALL HIGHLAI Do EU PLOYEES. We've decided to celebrate our 47th Anniversary with one of- the biggest, sales our customers have, ever seen.-To wit, we've cut every price in every Highland store.Of course, this means our stores will be busy with customers for 10 exhausting days. Compiled from Associated Press and United Press International reports Arguments continue on Detroit census conflict DETROIT-The battle continued yesterday over the 1980 census here where lawyers argued that the results for Detroit were significantly lower than the actual population, and demanded a revision. "What is involved in this case is a most fundamental principle of democratic government in this nation," argued Robert Sedler, one of the city's two attorneys. He argued that without a correct population figure, Detroit will lose millions of dollars in state and federal aid. "When we put aside the statistics," Sedler argued in his closing argument, "and the numbers and scientific techniques, we are talking about people. We are talking about the right of people to equal representation." It is now up to U.S. District Judge Horace Gilmore to issue a decision in the case. China has new premier PEKING-China's parliament, ending an historic 12-day session, formally installed Zhao Ziyang as premier yesterday, and passed a series of new laws bringing the nation of 1 billion a step closer to democracy. Three new ministes were brought in to fill the vacant seats in a new 14- man cabinet-down from 18. The carefully orchestrated reshuffle is the biggest bloodless leadership change in 31 years of Communist rule. Nearly all the new leaders share the currently-overriding vision of a modern, prosperous China through political and economic reforms and the renun- ciation of the nation's ideology-dominated past. "We should strive to further unfold the democratic spirit of this session," said congress Chairman Ye Jianying. He hailed the leadership change as "greatly significant to our cause of modernization." Egyptian poet summoned for violating 'Law of Shame' CAIRO-Abdel Rahman el Abnoudy, a popular Egyptian poet, appeared before a court yesterday, the first literary figure known to have been sum- moned for investigation under the Law of Shame. The Law of Shame, passed by Parliament in April at the personal urging of President Anwar Sadat, seeks to control public behavior and check corruption and abuse of power. The summoning of Abdel Rahman caused concern among moderate and left-leaning opposition party leaders that this might be the first step by the Sadat regime to silence critics. Abdel Rahman, who opposes Sadat's peace moves with Israel, and writes in simple coloquial Arabic criticizing aspects of ordinary life in Egypt, appeared with two lawyers. There is no word on the next step in the case, and the poet said he did not know whether he would be called for fur- ther questioning. Study reveals companionship aids mother during childbirth BOSTON-Women who have a friendly companion with them during childbirth experience faster, simpler deliveries and are more affectionate toward their newborn babies, a study shows. "Certainly a rule is that no mother should ever labor and deliver alone without a companion," Dr. John Kennel, one of the researchers, said in an interview. "That's awfully clear." The results are "particularly relevant to the care of low-income, single, or teen-age mothers, who may not recieve positive support from their families during labor and delivery and who may have had no formal or strong cultural preparation for childbirth," the researchers wrote in the study, published in today's issue of the New England Journal of Medicine. Cutler defends President Carter White House Counsel Lloyd Cutler disclosed yesterday that Billy Carter agreed to register as a Libyan agent within one day of being advised to do so by his brother, President Carter. In testimony before a special Senate subcommittee, Cutler defended the president's action in urging his younger brother to comply with Justice Department demands that he file under the Foreign Agents Registration Act. Meanwhile, the House voted 260-124 to pursue its independent in- vestigation of Billy Carter's affairs. The vote means the House will continue to press for documents bearing on the case. r 6 NJ 6 10 Sorry about that. SALE STARTS TODAY, THURSDAY - ENDS SATURDAY, SEPT. 20 SAVE $60 I~~ SAVE $4' MA PIONEER SX 580 AM/FM RECEIVER 20W/ch., min. RMS, 8ohms, 20-20k Hertz, no more than 0.5% THD. Wood grain cabinet. $108 SANSUI R-70 AM/FM RECEIVER 65W/ch., min. RMS, 8 ohms, 20-20,000 Hertz with no more than 0.08% THD. Regular $299. SAE45.88 sem METAL TAPE COMPATIBLE SHARP RT-10 CASSETTE DECK Front-loading deck uses ei- ther standard or metal bias tape. LED meters. Reg. $129. $E8 AUDIO TECHNICA STEREOPHONES Super lightweight dynamic planar moving coil stereo headphones. ATH1. Reg. $29.88. $1899 SAVE $61 TECHNICS SU011 INTEGRATED AMP 25W/ch., min. RMS, 8 ohms, 20-20,000 Hertz with no more than 0.08% THD. Regular $149. SAVE $45 ~b 3Mtrn lana l Volume XCI, No. 7 Thursday, September 11, 1980 The Michigan Daily is edited and managed by students at the University of Michigan. Published daily Tuesday through Sunday mornings during the University year at 420 Maynard Street, Ann Arbor, Michigan, 48109. Subscription rates: $12 September through April (2 semesters); $13 by mail outside Ann Arbor. Summer session published Tuesday through Saturday mornings. Subscription rates: $6.50 in Ann Arbor; $7 by mail outside Ann Arbor. Second class postage paid at Ann Arbor, Michigan. POSTMASTER: Send address changes to THE MICHIGAN DAILY, 420 Maynard Street, Ann Arbor, MI 48109. The Michigan Daily is a member of the Associated Press and subscribes to United Press International. Pacific News Service, 'LosAngeles Times Snydicate and Field Newspaper Syndicate. News room: (313) 7640552, 76-DAILY; Sports desk: 76s-0562; Circulation: 764-0558; Classified advertising: 764-0557: Display advertising: 764-0554; Billing: 764-0550; Composing room: 764-0556. 6 i SAVE ON KENWOOD 2-WAY SPEAKERS 8" woofer, 1-/" tweeter. Wood- grain finish cabinet. Handles up to 40 watts. Regular $59.88. $39 99EA. B.I.C. 40Z BELT- DRIVE CHANGER Belt-drive changer turntable with anti-skate, cueing, base and dust cover. Regular $99.88. PIONEER TP-900 8-TRACK CAR STEREO Under-dash FM Supertuner and 8-track player. Fast forward. Program repeat. Regular $129. '84 Editor-in-Chief .................. MARK PARREt* Managing Editor .................. MITCH CANTOR City Editor....................PATRICIA HAGEN University Editor .................. TOMAS MIRGA Opinion Page Editors ................ JOSHUA PECK HOWARD WITT Elaine Rideout, Beth Rosenberg, Julie Selbst, Kevin Tottis, Gregg Wolper. PHOTO STAFF: Paul Engstrom, David Harris, John Hagen, Lisa Klousner, Jim Kruz, Maureen, O'Malley (Chief Photographer), Peter Serling. Business Manager ......... ROSEMARY WICKOWSKI i I I F 1