Gay professors there said they had received anonymous hate messages by e-mail. While Shepard was still in his coma, a float turned up at a CSU homecoming parade with a scarecrow image and the words "I'm gay" scrawled across the face - an episode that has since led to the investigation of 11 students and the closure of the entire chapter of the Alpha Chi Omega sorority.As the days have passed, sentiments of lurking prejudice have gradually surfaced. On talk radio shows, a handful of callers have suggested that Shepard somehow got what he deserved. Newspapers have reported that he supposedly propositioned other men, concluding on the flimsiest of evidence that he was asking for trouble. And a small Baptist group from Kentucky, whose Internet website is called "God Hates Fags'', has vowed to travel to picket two memorial services being held for Shepard.While Laramie might be broadly liberal, that does not make it a tolerant place. Still, blue chips have enjoyed a strong week after the turmoil of the bear run with the index jumping 309.7. At one time yesterday Footsie was up 151 as the market gave a rapturous welcome to the surprise US rate cut.

With sterling sharply down against the Dmark and a volatile options expiry comfortably accommodated, a record- breaking performance seemed in prospect.Although trading was again heavy with turnover topping 1.1 billion shares, the market remained hesitant. "That sum will be over any of the prices that anybody is willing to pay," he said.. TUMBLING INTEREST rates and a falling pound ensured the stock market ended the week on a confident note - although there was widespread disappointment that the Footsie advance was confined to a grudging 76.8 points at 5,133.1. The authorities gave the leisure giant six months to sell the chain and indicated that the shops should be sold to a single buyer to create a "third force" in the UK betting market behind Ladbroke and William Hill.Ladbroke is expected to send out bid documents this weekend to around 16 potential bidders, including Stanley, the Tote and a host of venture capital groups such as Nikko, Nomura, CVC and Charterhouse.Mr Steinberg said that if the Tote were to use all of its pounds 400m war chest to bid for Coral he would pull out. The company decided that the bulk of the bid will be funded through debt, with only a small portion coming from equity.

Three leading City banks, including SG Hambros, are believed to be vying for the role of lead underwriter to the loan.The three financial houses are due to meet with Stanley's management next week to discuss the details of the credit line. Stanley Leisure also plans to use the proceeds of a recent pounds 100m syndicated loan, arranged by SG Hambros, to fund the Coral bid.Leonard Steinberg, the company's chairman, said that about pounds 70m of that loan is still available. The company could also call upon an extra pounds 40m that was oversubscribed at the time of the loan. The existing war chest and the new banking facility to be arranged next week would minimise the need to issue new equity, Mr Steinberg added.Ladbroke has been forced to sell Coral after its pounds 363m takeover of the chain from the beer group Bass was blocked by the government last month on comeptition grounds. The two bookmakers' decision to mount separate bids for the 891 Coral outlets comes only days after talks over a possible joint bid collapsed. Stanley Leisure, which owns around 560 betting shops in the UK and Northern Ireland, thrashed out the details of its fund-raising at a board meeting yesterday.

The news of Stanleys' fund-raising came as the Tote, the state-owned bookmaker, confirmed that it had arranged a credit facility, believed to be worth up to pounds 400m, to bid for Coral. If you believe, as most experts do, that the retail market for computing is going to move away from the desk top and into the mobile phone, then this is a quite sensational coup. It still looks a bit fanciful to regard Psion as the next Microsoft. But as Mr Gates has correctly surmised, it's got a better chance than most..