On this day
Revisit the news, notable people, and historical moments connected to this date.
In 1997, the world population was approximately 5,924,787,816 people[†]
1997Dennis Smith Jr., American basketball player[†]
Dennis Cliff Smith Jr. is an American professional basketball player who last played for Real Madrid of the Spanish Liga ACB and the EuroLeague. He attended North Carolina State University for one season of college basketball and earned second-team all-conference honors in the Atlantic Coast Conference (ACC) as a freshman as well as ACC Freshman of the Year.
1997Hastings Banda, Malawian physician and politician, 1st President of Malawi (born 1898)[†]
Hastings Kamuzu Banda was a Malawian politician and statesman who served as the leader of Malawi from 1964 to 1994. He served as Prime Minister from independence in 1964 to 1966, when Malawi was a Dominion/Commonwealth realm. In 1966, the country became a republic and he became the first president as a result, ruling until his defeat in 1994.
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Questions on Yamaichi The disclosure that Yamaichi Securities had hidden $2.06 billion in losses has focused attention on Japan's lack of supervision. Page D1. New Obesity Drug Approved The Food and Drug Administration approved the first new obesity drug since the ban of two diet aids. But it came with warnings. Page A19.
New York Giants discuss 7-7 tie with Washington Redskins (M)
New York Knickerbockers forward Charles Oakley is suspended for one game and fined $7,500 for punching Otis Thorpe of Vancouver Grizzlies; Thorpe is fined $3,500 for throwing elbow at Oakley; photo (M)
After a long search, CUNY chooses an interim chancellor. PAGE B3 She was left at the altar, but television proposals abound. PAGE B3
Fallout from Yamaichi Weighs on Markets The formal announcement of the failure of Yamaichi Securities heightened the concerns about Asia's financial turmoil that have weighed on global stock markets for nearly a month. Following drops on European markets, the Dow Jones industrial average fell 113.15 points, or 1.4 percent, to 7,767.92, while the broader Standard & Poor's index of 500 stocks dropped 16.42 points, or 1.7 percent, to 946.67.
Article discusses success of program in Stamford, Conn, in which two social workers hired by Stamford Town Center Mall offer help to teenagers who often loiter or misbehave at center; teenagers are offered opportunity to enroll in course on how to get employment at mall and are given list of activities and sports available to them in Stamford, as well as help in enrolling in activities; photo (M)
Williams Cos, one of largest natural gas pipeline companies in nation, agrees to buy Mapco Inc, biggest US pipeline system moving propane and butane, for $2.65 billion in stock and assumption of $750 million in Mapco debt; Williams seeks greater stake in unregulated businesses where growth and returns are higher; analyst says acquisition will give Williams extensive pipeline system to deliver to its customers natural gas liquids that it processes; Williams employs 14,000 workers and Mapco employs 6,600 workers; Keith E Bailey, Williams' chairman, says it is too early to predict whether two companies would cut some jobs; map; chart (M)
Emerson String Quartet gives concert at Alice Tully Hall; Bernard Holland review (S)
International Teamsters Brotherhood, in unusual accord with Justice Department, agrees to let Federal monitor oversee union finances to bar any improper spending; accord is embarrassing setback for union efforts to show it has rid itself of corruption; union officials say it is largely response to misuse of union funds to help re-elect Ron Carey as president; US Atty Mary Jo White comments (M)
MTV music network, looking to appeal to ever-changing range of musical tastes, plans to offer selection of well-defined channels next year that specialize in rock, rap, country and other genres to viewers willing to pay extra monthly charge; plan, which uses breakthrough digital technology, is part of new television era in which extra layers of specialized programming will emerge on already crowded cable systems (M)
United States military and intelligence officials say Iraqi intelligence agents successfully spied on United Nations weapons inspectors this year and last, learning in advance of team's targets and moving swiftly to hide suspected weapons caches; say U-2 spy planes have provided evidence that Iraqis knew of no-notice inspections well ahead of time (M)
The 1996 Federal election campaigns accounted for $2.2 billion in spending, an increase of more than 37 percent from the $1.6 billion in 1992, a new study has found. The increase made the elections the most expensive in history. That was reflected in the rise in the median cost of a House race to $559,807 and a Senate race to $3.5 million. That was up from $348,287 for a House race in 1994 and $2.7 million for a Senate race.