LEAD: Completing work on a bill to raise $12 billion in new taxes, Democrats on the House Ways and Means Committee proposed tonight to put a cap on the mortgage deduction that individuals can claim for their first and second homes. The deduction would be available only for the first $1 million in mortgage debt.

House Democrats Seek Home Deduction Limit

INSIDE

LEAD: The Public Service Company of New Hampshire moved a step closer to bankruptcy yesterday when its board voted to skip a $37.5 million interest payment due tomorrow.

Seabrook Utility Has New Woes

LEAD: New York State's highest court yesterday upheld a New York City law requiring the owners of the city's most valuable residential and commercial buildings to file annual statements of their property's income and expenses.

Law Upheld On Disclosure By Landlords

LEAD: Five high-level officials of the carpenters' union were indicted yesterday on charges of extorting more than $100,000 from contractors.

5 Carpenters' Union Leaders Indicted in Extortion

LEAD: In a move certain to be watched closely by educators, parents and operators of summer camps around the country, the Los Angeles board of education has voted to put all its 618 schools and 592,000 students on a year-round schedule.

Year-Round Schooling Is Voted in Los Angeles

LEAD: The meadows where dairy cows once grazed and where Sam Einstein spent his boyhood hunting pheasants and Indian arrowheads are filled now with a new housing development. As its residents forge new ways of life in the countryside, they speed the reshaping of this old farming town.

Suburban Pioneers Adjust in a Rural Jersey

LEAD: ABOUT 10 years ago, Americans began eating significant amounts of sushi. Ever since, there have been nagging doubts about the wisdom of consuming raw fish - doubts intensified by occasional reports of fish parasites. Yet America's love affair with sushi has continued unabated.

Reports of Parasites Rekindle a Debate About Raw Fish

LEAD: Completing a three-month investigation into business dealings by the executive director of the New York State Thruway Authority, the state's Inspector General has concluded that the case should be turned over to a prosecutor for possible action, law-enforcement officials said yesterday.

Action Urged To Prosecute Thruway Case

LEAD: President Oscar Arias Sanchez of Costa Rica, the driving force behind the regional peace plan signed by five Central American countries two months ago, was awarded the Nobel Peace Prize today.

COSTA RICA LEADER WINS NOBEL PRIZE FOR PEACE PLAN

LEAD:  COMPANIES  Public Service of New Hampshire moved closer to bankruptcy when its board voted to skip a $37.5 million interest payment due tomorrow. The missed payment will automatically begin a 30-day grace period after which the company could be declared insolvent. Public Service has been driven to the brink of insolvency because of its $2.1 billion investment in the Seabrook nuclear power plant, which may be blocked from opening.

BUSINESS DIGEST: WEDNESDAY, OCTOBER 14, 1987

LEAD: Wealthy readers have never been more popular.

Wooing the Wealthy Reader

LEAD: THIS has been one of the most remarkable years for pumpkin growing. That's what a farmer friend and neighbor on Long Island tells me. ''The fields,'' he said, ''have been downright pregnant with pumpkins, and the numbers on each vine have been tremendous.''

Grand Cuisine From the Pumpkin Patch

LEAD: A Haitian presidential candidate was shot to death this morning in front of the police headquarters in Port-au-Prince as he delivered a speech demanding the release of a prisoner, witnesses and diplomats said.

HAITIAN CANDIDATE KILLED BY GUNMEN

LEAD: The International Business Machines Corporation yesterday ended a stubborn string of five consecutive quarters in which its profits declined by reporting a 12 percent increase in its third-quarter net income.

I.B.M. Finally Lifts Net, But Wall St. Is Unhappy

LEAD: States around the nation are finding themselves in a legal muddle about how to control the spread of AIDS, and specifically how to balance the civil rights of people with AIDS against the goal of protecting public health.

RIGHTS OF CITIZENS AND SOCIETY RAISE LEGAL MUDDLE ON AIDS

LEAD: An undersea volcano in the south-central Pacific Ocean erupted directly beneath a California-based research vessel on Sunday, causing a fearful clamor as large bubbles of steam and gas shook the ship, bursting under her hull and in the surrounding water.

Underwater Volcano Erupts, Shaking Ship of Researchers

LEAD: When the Columbia Business School asked Asher B. Edelman, who is expert in company takeovers, to teach a course this fall on corporate raiding, Dean John C. Burton thought students would gain some valuable lessons.

Columbia Gives 'F' to a $100,000 Lesson Plan

LEAD: President Reagan acknowledged today that Judge Robert H. Bork would almost certainly not win confirmation to the Supreme Court, but he vowed to appoint a new nominee who upsets Democrats ''just as much'' as Judge Bork did.

Reagan Vows New Appointment As Upsetting to His Foes as Bork's

LEAD: A Federal district judge ruled yesterday that Sumitomo Electric Industries of Japan had infringed on two product patents held by Corning Glass Works for optical fiber, the thin glass wires used in telecommunications.

Corning Wins Case On Patents

LEAD: Kidder, Peabody & Company said yesterday that it had decided to cut back staff in its municipal securities unit by more than 35 percent, citing poor market conditions.

100 Kidder Jobs Cut in Municipals

LEAD: IN the afternoons at the Oasis After School Program at St. Matthew's and St. Timothy's Neighborhood Center in Manhattan, staff members are not given to pondering the big child-care picture. Such questions as how many latchkey children there are in America, whether they come from middle-class or low-income homes, or whether they live in cities or suburbs seem irrelevant.

Latchkey Children: A New Profile Emerges

LEAD: Just two years ago, John Galliano's show of his spring collection was the sort of insular affair well known to those on the avant-garde fashion fringe. Though his designs were eerily beautiful, they were also twisted and artfully torn, like something a cat had clawed. Though Mr. Galliano was highly regarded, few important buyers or fashion editors paid heed.

Center Stage, From the Creative Fringe

LEAD: A faded yellow teddy bear that passed through Ellis Island in 1920 will soon return to the main immigration building, to be displayed against the side of an open battered suitcase. The suitcase contains a German Bible with a four-leaf clover pressed inside.

Ellis Island Gathers the Pieces of Its Past

LEAD: Howard Snyder's desk is next to a window overlooking the showroom of Odd Job Trading, so he can hear the friendly clatter of 12 cash registers. Calms the nerves, he says.

About New York; Closeout Mania: Pig-Shaped Fans And Canned Kiwi

Jared Antonio Farrow, better known by his stage name Jay Pharoah, is an American stand-up comedian and actor. He was a cast member on the NBC sketch comedy series Saturday Night Live from 2010 to 2016. In 2015, he was ranked the 55th greatest Saturday Night Live cast member by Rolling Stone magazine.

October 14, 1987

Headlines from October 14, 1987

House Democrats Seek Home Deduction Limit

INSIDE

Seabrook Utility Has New Woes

Law Upheld On Disclosure By Landlords

5 Carpenters' Union Leaders Indicted in Extortion

Billboard 200

Bad

Whitesnake

Whitney

Hysteria

A Momentary Lapse Of Reason

Notable Births

Historical Context for October 14, 1987