Very good that did it, Thank you much Bill -- I gather some variables, but not all, must be initialized outside the loop. How would I know the difference as to which variables need to be initialized outside the loop to those who can be initialized within the loop?
new code
Clear["Global`*"]
f[c_] := g m /c (1 - E^(- c/m t)) - v ;
g = 9.81 ; m = 68.1 ; t = 10 ; v = 40 ;
cl = 12 ; cu = 16 ; ea = 1 ; i = 0 ; oldcr = cl ; newcr = cu ;
While[ ea > .0625 ,
fcl = f[c] /. c -> cl ;
fcu = f[c] /. c -> cu ;
cr = cu - fcu ( cl - cu )/(fcl - fcu) ;
fcr = f[c] /. c -> cr ;
oldcr = newcr;
newcr = cr;
If[ fcl fcr > 0, cl = cr, cu = cr ];
ea = Abs[(newcr - oldcr)/newcr] ;
i = i + 1 ;
Print[{cl, cu, cr, i, ea}]
]