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May 24, 1980 - Image 1

Resource type:
Michigan Daily, 1980-05-24

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

The Michigan Daily t
Vol. XC, No. 13- Ann Arbor, Michigan-Saturday, May 24, 1980 Ten Cents Sixteen Pages

A group
dumped 450
Louis Belch
adult books
The lette
Avenue Coa
to padlock I
shut down
that its loca
The grou
tempt to o
store to clo
zoning viol
At that

Bookstore sparks angry letters
By MITCH STUART granted a one-week adjournment. Conlin will rule on "I do believe it's bad for that part of town and
lettenrbor ig businesswomenyesterday the injunction next Wednesday. ultimately bad for Ann Arbor,"Fisher said.
of Ann Arbor "Our people were upset that the injunction was Besides the 450 letters dumped yesterday, Belcher
0 letters signed by city residents on Mayor delayed," Belcher said. "We feel it's a travesty of said he has received many more in the mail.
her's desk in a graphic protest against an city law. Sue Strzelecki, a worker in the Women's Cirisis Cen-
rs, printed by the ad hoc North Fourth "MY FOND HOPE is that Wednesday the injun- ter located directly above the bookstore, said both
rlitionds, igned by suppd orth re nts, etion will come down," Belcher added. opponents and advocates of pornography signed the
alition and signed by supportive residents, According to councilwoman Leslie Morris (D- letters. "A lot of people signed them, I think just
that the mayor and city council tke steps Second Ward), the building department has posted because they were against pornography. Those that
S OF THE coalition have been y to signs closing the store at least twice, but bookstore were for pornography signed because of the (alleged
the store for more than a month, alleging employees "just ripped them down. zoning) violation," she said.
tioviores cit z on ing laws. "We are doing everything we can," Morris said in COUNCILMAN EARL GREENE (D-Second Ward)
tion violates city zoning laws. response to the citizens' pleas for action. "It is now in said he is "constantly" getting calls about the
p was unsuccessful Wednesday in an at- the hands of Henry Conlin." bookstore.
btain an injunction that would force the COUNCILMAN DAVID FISHER (R-Fourth Ward) Danish News opened its doors April 17 amid neigh-
se while the main issue of an alleged city said the zoning ordinances were created to keep bors' protests and confusion over what zoning or-
ation is considered. adult bookstores in a specific part of the city and to dinances were involved.
time, Circuit Court Judge Henry Conlin prevent them from spresding out. See BUSINESSWOMEN, Page 7
Prime rate
falls again
as inflation
rate slows

Airborne antics
Cyclist John Wacker' dazzled a Diag crowd yesterday, performing heroic
acrobatics on his souped-up two-wheeler. There is no truth to the rumor that
Wacker plans to jump the Huron River in a jet-powered bicycle later this

From AP and UPI
WASHINGTON - Inflation eased
significantly in April for the first time
in more than a year, as stable gasoline
prices and a deepening recession held
consumer prices to a 0.9 per cent mon-
thly rise, the government reported
Meanwhile, the nation's second
largest commercial bank, Citibank,
slashed its prime lending rate two per-
centage points yesterdayto 14 and one-half
per cent, another sign of lower loan

Ex-South Korean
spy chief executed

demand resulting from a weakening
economy. Several other major banks
followed suit immediately.
THE LATEST reduction in the prime
rate from a record peak of 20 per cent
just one month ago came on the heels of
the Federal Reserve Board's decision
Thursday to relax some of the credit
controls it clamped on consumers and
businesses in March. The controls were
imposed to ease inflation, but in the
process have hastened and worsened
the economic downturn.
Michael Horgan, Citibank vice-
president for credit policy, said the
drop was "a catch-up to where rates
are, where they've been."
Asked about'Citibank's formula for
the prime, which calls for a rate as low
as 111/2 per cent, Horgan said, "We
haven't been using a formula for some
time, we've been following market
"THINGS REALLY haven't been
normal for a couple of months now,"
Horgan added.
In a related development, a Federal
Reserve Board study shows that high
prime rates being charged by major
New York banks early this year were
artificially inflated, with true lending -
See INFLATION, Page 14

Details inside, Page 13

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