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News Analysis

Date: 13 May 1981

By Edward Cowan, Special To the New York Times

Edward Cowan

The Reagan Administration asked Congress today to gore one of Washington's most sacred cows, Social Security benefits. Nearly a half-century after Congress authorized this most enduring of New Deal programs, the Administration asked the lawmakers to undertake what no President had proposed before: a general lowering of benefits. To be sure, as officials insisted, there would be no reductions in monthly payments for anyone who is already on the rolls or who achieves that status by Dec. 31. But for those who become beneficiaries after 1981, benefits under the legislation proposed today would be lower than they would be under present law. That would be true not only for those who take retirement at the age of 62, 63 or 64 but also for people who start drawing benefits at 65 or later. On the latter point, the eight-page ''fact sheet'' published by the Department of Health and Human Services said little.

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News Analysis

Date: 13 May 1981

By John Vinocur, Special To the New York Times

John Vinocur

In the years Valery Giscard d'Estaing has been President of France, economic and foreign policy in Western Europe has essentially meant a French-West German directorate in which the two countries operated in approximate tandem. The West Germans brought to the bargain their economic strength and their insecurities about how much of a European and global leadership role they could or should play. In exchange, the French offered the Bonn Government a kind of international chaperone service that provided a degree of diplomatic acceptability it felt it could not muster on its own. There was also a psychic bond: more than just providing the French with access to cash and power, the arrangement gave them the reassuring feeling they always had a notion of what the Germans were up to; the Germans, with a stronger craving for idealism, could say to themselves they had really brought an end to centuries of fatal rivalry.

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Company News; Century Tender

Date: 14 May 1981

Century Banks Inc., a Florida-based bank holding company, filed suit yesterday against Marvin L. Warner and companies he controls, seeking to thwart Mr. Warner's unsolicited tender offer for up to 1 million shares of Century's common stock, valued at $12.5 million. Through companies he controls, Mr. Warner's holdings in Century amount to 7 percent, or 470,530 shares, of the 6.5 million outstanding shares. Mr. Warner's tender offer for the additional shares expires June 5.

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Company News; American Financial

Date: 14 May 1981

The American Financial Corporation, a diversified financial holding company, said it had two options to buy a total of 304,165 shares, or 6.8 percent, of the common stock of Chi-Chi's Inc., a chain of Mexican-style restaurants.In a filing with the Securities and Exchange Commission, American Financial said the options may be exercised between July 9 and Dec. 31. It said it viewed the options as an investment.

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Sports News Brief; Surf Ready to Announce Signing of Carlos Alberto

Date: 14 May 1981

The California Surf of the North American Soccer League has called a news conference today in Costa Mesa, Calif., to announce the signing of Carlos Alberto, the former sweeper for the Cosmos. Carlos Alberto, 36 years old, was voted the league's outstanding defensive player for the last three years.

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Company News; Bonn's Oil Imports Down

Date: 14 May 1981

Reuters

West German crude oil imports fell by about 20 percent, to 150 million barrels, in the first quarter of this year compared with the same period a year ago, the Federal Statistics Office said today. However, West Germany's oil bill in the first three months rose by 15 percent, to $5.35 billion, as the average price of crude oil rose by 43 percent.

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Company News; Goodrich to Sell Shares in Yokohama

Date: 14 May 1981

AP

The B.F. Goodrich Company said it planned to sell a majority of its nearly 20 percent interest in the Yokohama Rubber Company of Japan for an undisclosed price.

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Company News; Xerox Introduces Two Telecopiers

Date: 14 May 1981

The Xerox Corporation introduced two new high-speed facsimile machines that it said could transmit an average single-page letter anywhere in the world in one minute or less. The faster of the machines, the Telecopier 495, can transmit such a letter in 30 seconds, Xerox said.

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Sports News Brief; Miss Catalano in Race

Date: 14 May 1981

Patti Catalano, the American record-holder for the women's 10,000-meter run and the marathon, has entered the L'eggs Minimarathon in Central Park May 30, officials said yesterday.

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News Summary; WEDNESDAY, MAY 13, 1981

Date: 13 May 1981

International A second Irish hunger striker died in a prison outside Belfast in his 59th day without food. Francis Hughes, a member of the outlawed Irish Republican Army, had been serving a life sentence for the murder of a British soldier. The latest death touched off new sectarian violence. (Page A1, Column 1.) Missiles were fired from Syrian soil at Israeli reconnaissance aircraft flying over Lebanon, apparently for the first time, the Israeli military command announced. But an Israeli spokesman said that the missiles had missed their targets and that the planes had returned safely to base. (A1:4.) A Syrian military spokesman said that Syrian forces in Lebanon had shot down an Israeli military reconnaissance plane, but he did not specify how. (A16:4-6.)

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