An article on Saturday about the Guild Hall awards to Alan Alda, Willem de Kooning and Kurt Vonnegut for participation in the arts misstated the telephone  number for information on the reception and dinner Dec. 3 at the St. Regis. It is (516) 324-0807.   

CORRECTION

BUSINESS DIGEST: TUESDAY, OCTOBER 22, 1985

A picture caption in some copies yesterday with articles about the United Nations misidentified the wife of Jaime de Pinies, President of the General Assembly. Her name is Julia.   

A strong aftershock of the predawn earthquake of two days ago, again centered in Westchester County, rumbled through parts of the metropolitan area this morning, prompting a new wave of phone calls but causing no injuries or damage.          The tremor, at 6:37 A.M., was registered at 3.0 on the Richter scale at Columbia University's Lamont-Doherty Geological Observatory in Palisades, N.Y.,  just across the Hudson River from the quake's epicenter south of the Village of  Ardsley.   

WESTCHESTER IS STRUCK BY STRONG AFTERSHOCK

Italy's President today asked the caretaker Prime Minister, Bettino Craxi, to form a new government.         Mr. Craxi, a Socialist, was head of the five-party coalition Government that  fell four days ago over its handling of the Achille Lauro hijacking. The request that he form a new Government came amid indications that he had emerged  politically strengthened from the episode.   

CRAXI GIVEN MANDATE TO FORM NEW ROME CABINET

A United States Senator asserted today that China was still exporting nuclear technology to five countries with ''the most dangerous nuclear programs'' despite Peking's pledge to not help others develop atomic weapons.         The Senator, Alan Cranston of California, the Democratic whip, said that because intelligence information showed China was aiding the five nations he opposed congressional approval of a 1984 nuclear cooperation accord between Peking and the Reagan Adminstration.   

CRANSTON ASSAILS U.S.-CHINA ACCORD

Representatives of small and medium-size banks gave a chilly reception today  to a speech by Paul A. Volcker, the Federal Reserve chairman, asking that they provide fresh loans to troubled debtor countries. Even some larger banks expressed reservations.         That unwillingness could make it more difficult for for the Reagan Administration to get Western banks to make $20 billion in new loans to debtor countries in the next three years.   

FOREIGN LOAN PLAN MET COOLLY

EVIDENCE appears to be mounting of specific links between people's emotions,  the body's immune defenses and the course of serious diseases.         Some researchers are concluding that breast cancer patients, for example, who are openly upset and show a fighting spirit - ''I'm going to conquer this thing!'' - marshal stronger immune defenses against the spread of the disease and are more likely to survive than those who suffer with quiet stoicism.   

STRONG EMOTIONAL RESPONSE TO DISEASE MAY BOLSTER PATIENT'S IMMUNESYSTEM

The Union Carbide Corporation yesterday reported a third-quarter loss of $543 million as the result of its previously announced restructuring plan.         Without the special charges, Carbide said, its net income of $77 million, or  $1.09 a share, would have equaled results in the 1984 quarter. Sales fell 4 percent, to $2.25 billion.  The latest results included an extraordinary gain of $19 million from the purchase below par value of the company's sinking fund debentures.   

UNION CARBIDE HAS $543 MILLION LOSS

International          Shimon Peres offered to go to Jordan before the end of the year to take part in a Middle East peace conference. Mr. Peres, the Israeli Prime Minister, made the offer in an address before the United Nations General Assembly as it began the second week of the organization's 40th anniversary commemoration. [Page A1,  Col. 6.]   

NEWS SUMMARY TUESDAY, OCTOBER 22, 1985

A dollar has meaning for a lot of people and it could well be an economic barrier for a lot of people. But I'm not in the psychology business. I'm in the  train business, so I'm the last person to ask about that.'' - Robert R. Kiley, chairman of the Metropolitan Transportation Authority, on a possible fare increase. [B4:2.]   

QUOTATION OF THE DAY

Top executives of R.H. Macy & Company said yesterday that they would offer to buy the department store concern from its shareholders for almost $3.6 billion.          The deal, which would turn the nation's 23d-largest retailing chain into a privately owned company, would be the largest takeover ever of a retailer.   

EXECUTIVES PLAN $3.6 BILLION BID FOR R.H. MACY

The Supreme Court set the stage today for what could be a major ruling next year on whether governments must compensate property owners for land-use restrictions that drive down the value of their properties.         The question is of great importance to the real estate industry and to local  governments, which fear they could collectively be exposed to multibillion-dollar liabilities. It has produced conflicting rulings by lower Federal and state courts. The Supreme Court has previously passed up several opportunities to issue definitive rulings, and the law is in a state of confusion.   

LAND-USE, F.D.I.C. SUITS ACCEPTED BY HIGH COURT

An article in SportsMonday this week about the New York Knicks basketball team misstated the earnings of Gulf & Western's Entertainment and Communications Group. It produced $1 billion of the company's $3.1 billion total revenues for fiscal 1985.   

President Reagan promised today to use the rest of his second term to appoint Federal judges who seek ''judicial restraint,'' and he criticized those who view courts as ''vehicles for political action and social experimentation.''         Mr. Reagan, speaking to a group of United States Attorneys, said he would appoint to the bench lawyers ''who understand the danger of short-circuiting the electoral process and disenfranchising the people through judicial activism.''   

REAGAN SAYS HE'LL USE VACANCIES TO DISCOURAGE JUDICIAL ACTIVISM

In the 1960's a highly successful New York Stock Exchange advertising campaign convinced millions of investors to own shares of American business. These days, the Big Board is still promoting share ownership, but, to its chagrin, is having to acknowledge that not all shareholders of some corporations get the same rights for their money.         The discrepancy between two different classes of stock within the same company, in fact, is the subject of a heated debate between Congress and Wall Street that now appears headed for a showdown - and will shape the future control and ownership of many of the nation's largest corporations. It stems from the moves in recent years by prominent companies, such as the Coastal Corporation, Hershey Foods and General Cinema, that have issued a second class of stock with superior voting rights.   

A FIGHT OVER UNEQUAL STOCK

AS commissions, committees and task forces continue to discuss new ways to improve American public education, a 26-year-old proposal is attracting broad interest and support among education leaders. The plan is designed to raise both the status of the teaching profession and teachers' salaries by providing a workable approach to merit pay.         The proposal, put forth by Myron Lieberman, a longtime educator who is now a  visiting professor at Ohio University at Athens, involves setting up national education specialty boards to certify teachers as specialists in various academic areas, much as boards certify specialists in medicine or accounting. The requirements should be so rigorous that only 10 to 20 percent of teachers would meet them, the professor said in an article in the October issue of the Phi Delta Kappan, an education journal. Certification, he said, could then become a criterion for higher pay.   

EDUCATION;PLAN FOR CERTIFICATION GAINS

Top executives of the Beatrice Companies offered to support a $4.9 billion takeover if Donald P. Kelly, the Chicago businessman, was excluded from the deal, insiders said yesterday.         But the investment house leading the offering group - Kohlberg, Kravis, Roberts & Company -refused to leave Mr. Kelly out, these sources said. Beatrice  executives then refused to negotiate, the sources said, and subsequently, on Sunday, Beatrice directors decided that they preferred for the company to remain independent.   

CLASH OVER KELLY ROLE AT BEATRICE

Oratory, as every politician knows, should match the moment. And the moment for Governor Kean arrived this summer.         The State Legislature had passed a bill requiring the state to withdraw its investments from companies doing business in South Africa.   

2 APPROACHES SHAPE CANDIDATES' ORATORY IN JERSEY CAMPAIGN FOR GOVERNOR

Prime Minister Shimon Peres of Israel, addressing the General Assembly as it  began the second week of its 40th anniversary commemoration, offered today to travel to Jordan before the end of the year to participate in a Middle East peace conference.         ''I hereby proclaim: The state of war between Israel and and Jordan should be terminated immediately,'' Mr. Peres said. ''Israel declares this readily in the  hope that King Hussein is willing to reciprocate this step.''   

PERES, AT THE U.N., PROPOSES TO VISIT JORDAN FOR TALKS

When Edward S. Finkelstein took charge of Macy's New York in 1974, the division - and particularly its Herald Square flagship - had been in decline for years. Many people favored retrenchment by closing off part of the world's largest store. Instead Mr. Finkelstein plunged into a five-year, $15 million renovation that turned Macy's into one of the nation's smartest stores and the company overall into a leading department store chain. All this earned Mr. Finkelstein a reputation as a master merchant.         With yesterday's announcement of a $3.6 billion deal to take R. H. Macy & Company private, Mr. Finkelstein, its 60-year-old chairman and chief executive officer, seemed to be adhering to his gambler's credo: To make money, you have to spend money. ''He's willing to take a point of view and stick with it,'' said Marvin Traub, chairman and chief executive officer of Bloomingdale's.   

MAN IN THE NEWS: EDWARD SIDNEY FINKELSTEIN;MACY'S MASTER MERCHANDISER

The Critic's Choices column in The Guide on Sunday gave an incorrect time for a benefit concert at Cami Hall this Saturday by the Museum of the American Piano. It will take place at 3 P.M.   

The New York City Transit Authority made public its 1986 budget yesterday, showing a deficit of $225 million and presenting the possibility of an increase  of up to 25 cents in bus and subway fares next year.         A fare increase is considered a ''last-resort option'' by transit officials.  In the next two months, they will be discussing with city and state officials a  number of other ways to offset the deficit.   

25/ FARE INCREASE CALLED POSSIBILITY IN TRANSIT BUDGET

EVER since Louis Agassiz and other naturalists of the mid-19th century showed that glaciers sometimes swarm across the landscape, burying large regions in ice, scientists have sought to understand these flowing rivers of congealed snow.         Two questions have been particularly baffling: Why, after impounding huge lakes, do glaciers release the water in catastrophic floods, and why do glaciers sometimes ''surge,'' increasing their flow rate more than a hundredfold?   

CLUES EMERGE TO THE CREEPING MENACE OF GLACIERS

Board of Education and city officials went ahead with the construction of a showcase arts high school even though they knew its design was out of date and did not comply with city building codes, according to city documents and people  involved in the project.         At $85 million and still counting, the school, the Fiorello H. La Guardia High School of Music and the Arts is the most expensive public high school ever built in New York City.   

HIGH SCHOOL FOR ARTS: LONG HISTORY OF FLAWS

Hanson is an American pop rock band from Tulsa, Oklahoma, formed by brothers Isaac Hanson, Taylor Hanson, and Zac Hanson. Supporting members include Dimitrius Collins and Andrew Perusi (bass), who have toured and performed live with the band since 2007.

October 22, 1985

Headlines from October 22, 1985

CORRECTION

BUSINESS DIGEST: TUESDAY, OCTOBER 22, 1985

CORRECTION

WESTCHESTER IS STRUCK BY STRONG AFTERSHOCK

CRAXI GIVEN MANDATE TO FORM NEW ROME CABINET

Billboard 200

Brothers In Arms

Whitney Houston

Songs From The Big Chair

The Dream Of The Blue Turtles

Born In The U.S.A.

Notable Births

Notable Deaths

Historical Context for October 22, 1985