(Bob Dunsmore photo) WASHINGTON (UPI) - The financially troubled Chryster Corp. announced Tuesday it is seeking another $300 million in federal loan guarantees to stave off bankruptcy and finance production of its new “K” car. The company arranged to make the request at a late- afternoon closed meeting of the Chrysler Loan Guarantee Board, a special government panel headed by Treasury Secretary G. William Miller. Earlier this year, Congress Ookayed up to $1.5 billion in loan guarantees to the Ration’s third-largest auto manufacturer, and created the loan board to authorize the relief when it was needed. On June 24, the loan board gave Chrysler the green light to issue $500 million in 10- year notes at a handsome yield of 10.35 per cent. In virtually no time, the automaker had lined up buyers for all the notes, which carry the federal government's guarantee they will be paid off no matter what happens to Chrysler The guarantees are being issued in stages, with each step requiring the approval of the loan’s board's three voting members = Miaitler Federal Reserve Chairman Paul Volcker and Comp troller of the Currency Elmer Staats Company officials declined Car Rentals Oldies but Goodies free mileage from $12.95 Monthly Rates GAO-1S5 16 T4780 Marine-Or, "ANDY MAHOOD LEADS THE PACK in the Formula Ford race in Pordand, Oregon. He's almost certain of the 1980 formula Ford Championship, Story on p. B1. comment Tuesday on a New York Times report that the company sustained losses of between $900 million and $1 billion during the first six months of this year. One Detroit-based auto analyst told the newspaper Chrysler's losses during the April-to-June quarter of this year represented the largest quarterly loss by a major company in U:S. history. The loan guarantee program is the largest and most complicated federal effort ever undertaken to assist a private firm on the verge of bankruptcy. Roughly 400 banks, in- companies surance and Broker for Quality Automobdes Chrysler asks for money other lenders in this country and abroad had to agree to Tefinance more than $4 billion of Chrysler's debt before the government could issye the loan guarantees. VW's” | recalled WASHINGTON (UPD - For the second time, 100,000 Volkswagen Rabbits and Sciroccos are being recalled to correct problems with the cars” pollution control systems. . The action announced last Wednesday involves 1975 models with manual tran- | ‘smissions and 1976 models with both automatic and manual transmissions. The Environmental Protection Agency (EPA) said the repeat recall was mecessary because the cars may be polluting the air more than the law permits. Volkswagen of America Inc., which is conducting the ’ | - recall voluntarily, previously ‘recalled the same cars after their catalytic converters — pollution control devices — failed. The cars originally were equipped with catalytic converters, but the con- verters began breaking internally or melting during normal driving use, so VW had them removed. At the time, Volkswagen made engine modifications to keep the cars in compliance with federal emission standards. Japanese Auto Specialists ‘‘Quality Service Assured’’ Bees 986-5122 986-3116 DISTINCTIVE Motor Cars Ltd. We are pleased to announce the opening of our Service Department Specializing in Mercedes Benz and all other exotic automobiles We offer a personalized service to all our Customers For appointment call 985-0688 "DISTINCTIVE" 1222 Marine Drive North Vancouver | .ow53999|von2 2999 now® I 196 Body Shop Helper - Prep Man Required immediately for North Shore dealership. Excellent wages and benefits. Call: |. Thomas, Service Manager — 980-3431 insurance Claims Complete Repaints Free Estimates Restoration Work Remetaling for rust After all, you’re our customer, and it's your car, and we liké to keep a good thing going. Peter Brand Motors 1319 Clyde, W.V. 922-3231 Northridge Plymouth Chrysler Ltd. 1177 Marine Drive, North Vancouver 980-6511 Used Car Specials 1975 Chrysler 1979 Omni 1979 Volare New Yorker 5 dr. Hatchback 4 dr. Sedan V8 auto, p.s., p.b.| 4 cyl. automatic | 6 cyl. auto. p.w., tilt steering radio, rear defogger] p.b., v’ wheel, plus much plus more ‘ \ ) “Excellent Trailer-| Stk. 440-0044