Skip to main content

Full text of "Financial Times , 1978, UK, English"

See other formats


s 


Chinese adopt flexible 
approach to imports 


Ford suspends production 
at small car plants 


,hert -P « 

n ‘. fn ^ 

" 12.H. j... 

;w *i i£ 

ur: ; "a ^ 
Wfj, 
: = ; ‘ ff rrj 

^!ur to ijjj 

L -uie i ,'o. 

c& «f 

,:l ha-TMUp-- 

; 5 ^ Wfflpt. 

!n ~ a SKSj 

‘f! :hau ^ 

- siin^j,. 

ll,,r:ftfc & 
^nt fc 

: •«< Biijij 
■l'l v i tSn -i, 

' ,=, -V 

• •V.irt;, 


• . •■••• P*» 
v ?. ».;v 
p* 

“’“tv. ;.• 
.7 


•• • '•!; 7 7 rj- 
: i; j- 


BY COLIN A MacDOUGAU. 

.CHINA’S ’TRADE will soon see 
major new growth, according to 
4Wr.ii Chiang r the Foreign Trade 
.Minister, who is Quoted in the 
■latest issue of the official foreign 
■■ trade journal, China’s Foreign 
Trade. - Import-export business 
had gone very well in the first 
...half .of this year, he said, follow- 
®. 12 per cent overall increase 
last year. . 

Discussing China's Import- 
«tporf policy and practices, Mr. 
Ij ; said Chinese trading cor- 
porations had become more 

flexible, and had now restored 
or' adopted International prac- 
tices, Mr. -Li gave a number of 
examples of these. The trading 
corporations would now agree to 
accept : export orders made 


according to buyers’ designs and 
trade-marks, with buyers' awn 
materials, or in the case of 
machinery and spares, to fit the 
specifications of the buyers' own 
equipment" 

They would also adopt dif- 
ferent forms of payment, sell 
goods at Chinese trade exhibi- 
tions abroad, make consignment 
sales in other countries and 
adjust the prices or Chinese 
exports in accordance with pre- 
vailing international prices. 

Mr. Li also noted that China 
would continue to buy complete 
plants, but this would depend on 

its ability to pay, either immedi- 
ately. or within a specified 
period of lime. Forms of pay- 
ment would include cash, instal- 
ments, fairly long-term deferred 
payments, exchanges of pro- 


ducts, or " other prevailing forms 
in international trade." 

Speaking of bis visits to 
Europe last autumn and the sign- 
ing of a trade agreement with the 
EEC. Mr. U reiterated Peking’s 
desidc lo learn from the ad- 
vanced technology aod experi- 
ence of the West in industrial 
and agricultural product ion. 

He believed, he said, that 
economic and. technical ex-i 
changes would make steady 
headway betwen China and Wes- 
tern Europe. On the long-term 
agreement with Japan, he noted 
that il had allowed the increase 

of some major import and export 

items from year to year. But it 
would only represent a part of 
Sino- Japanese trade, which would 
be stimulated by other arrange- 
ments as welt. 


Call for more UK exports to Bulgaria 


BY TERRY DODSWORTH 

Ford, the second largest U.S. 
car producer, is lo close tempo- 
rarily its assembly operations at 
San Jose. California and Metu- 
cbctl. New Jersey, because of 
disappointingly low sales of its 
Pinto and Mercury Bobcat 
models. 

Production at the two plants 
will be suspended for one week 
from to-day, laying off some 
3,750 men. 

Mr. Henry Ford If, the chair- 
man of Ford, said in a recent 
interview, however, that these 
two models were the only cars 
of which the cum nan v had ade- 
quate stocks. They are' both small 
cars by American standards. 

Speaking to Automotive News, 
the Detroit-based weekly journal, 
he said that Americans were 
buying cars at present to hedge 
against inflation, and l-’nrd was 
“sold out or just ahoul everything 
except Pin ms and Bobcats." 

Mr. Ford went nn to suggest 
that the U.S. producers will in- 
creasingly respond to inflationary 
pressures by increasing prices 


more than once, a year, keeping! 
them continually under review: 
as in Europe. I 

He said that ihe company iS| 
Aiming to introduce i.ew and i 

smaller versions r.f its large 
Mercury Marqiii-. and Ford LTD 
models bier ihis year. But he 
did not think that the fact that 
General Mfilor.< had taken the 
lead in downsizing its vehicle* 
had a detrimental effect on 
Ford's own sales. 

Ford hf*s aUo announced U 
will suspend car production at 
its Louisv :!!>•. Keniuck>. plant 
for one wed: and at us Dear- 
born. Michigan, plant for two 
weeks starling today in conduct 
training ses-mn- to familiarise 
employee.- unh 1S7U models due 
to be as<eiiih!.-d both facilities | 
startins during ihe summer. | 
However. Ford -aid that layoffs: 
are not expected at eiiher of the ! 
two facilities and production of 1 
1978 moduli -a ill n-mme aflcr: 
the training s*‘ s sit<n*. end. The ! 
plants will close during the 1 
summer fur romoling fur out- 
put of 1&T9 models. 


Olympic 

Airbus 

purchases 

By Our Own Correspondent 

ATHENS. June 11. 

OLYMPIC AIRWAYS. Greece's 
slate-owned national airline, has 
bought two A-500 Airbus Air- 
liners from the European Airbus 
Manufacturing Company. 

The agreement for the pur- 
chase was signed here yester- 
day. Under the agreement 
a consortium of foreign banks 
will provide a low-interest loan 
lu cover the cost of the airliners, 
understood to he SSQm. 

The wide-bodied 255-seat air- 
liners will be delivered to 
Olympic Airways in February. 
Olympic Airways has an option 
for three mure such aircraft for 
delivery in 1981. 

Also competing for the sale of 
new aircraft to Olympic Airways 
was Boeing, which has already 
supplied the airline with J25 
Bneme jets, two of them 747 
Jumbos. 


Romania plans oil 
deal with Nigeria 


BY ROGER BOYES 

ROMANIA AND Nigeria are 
considering an oil deal which 
I could help to reduce substanti- 
j ally Bucbare.-t’s dependence on 
j imports nf crude from the Middle 
lEast according to informed 
I sources here. 

1 The move follows the state 
l visit of General Ohisegua 
| Obasanjo Nigerian head of State. 
I to Bucharest last week. General 
I Obasanjo and President Nicolae 
Ceau'Pxcu y f Romania capped a 
[visit by signing an air traffic 
: agreement hut. in a Anal com- 

I m unique they also spelled out 
[areas of future economic co- 
operation including fields of 
| energy and pptro-chemiculs. 

| Romania, although it has for 
[many years had considerable oil 
i reserves, is now. a net importer 
1 largely because of the demand of 
j'ts petrochemical industry, one 
i of its sironse.-i growth sectors. 


BUCHAREST. June ML 

Although few details hart 
emerged about the deal. Western 
diplomats believe that Nigeria 
may replace Kuwait in the long- 
monied Constant Oil Refinery 
project on the Black Sea.' Nego- 
tiations on this complex which 
would refine Kuwait oil for; ex- 
port to the West by Romania, 
are believed to be deadlocked 
over Kuwait's desire for a share 
in the profits. Romania anxious 
to preserve its economic Inde- 
pendence would prefer a com' 
pensation or counter-trade agree- 
ment According to the sources 
such a deal maybe reached ‘tfith 

Nigeria which has an -interest 
in many Romanian export fields 
including tractors. - V 

Romania has also "appro whed 
Algeria. Iran. Greece and somo 
South American countries fn a 
hid to diversify its oil supp+y— 
and to avoid dependence : on 
Soviet oil import?. 


BY MARGARET HUGHES 

BRITISH INDUSTRY i s not 
making enough effort to export 
to the Bulgarian market aod as 
a result is losing substantial busi- 
ness to its EEC partners, accord- 
ing to Mr. Leopold Friedman, 
chairman of 'the Bulgarian Sec- 
tion of . the Londop Chamber of 
Commerce- 

Speaking at a Press conference 
in London to announce this 
year's Plovdiv International 
Fair, Mr. Friedman said the 
. level of British interest is re- 
- fleeted in a smalt number of 
companies which have booked 
space in the British Pavilion at 
the fair, which is to be held 
from September 3 to 10. 

Only 17 companies are so far 
.participating. This is one less 
than- last year when British par- 
ticipation ■ was again disappoint- 
ing by comparison with that of 
other EEC countries— -West Ger- 
many was represented by 150 
companines while there were 
around 100 French participants. 

As a result, the level Df British 
exports to Bugaria trails well 
behind . West • Germany and 
France, is less than half the 
level of Italian exports and lower 
than Japan, Austria, Switzer- 


land and the Benelux countries 
Last year British export* 
totalled S43.6m. up slightly from 
the previous year's level of 
S4I.5m. while West German 
exports totalled S2?2m and 
French exports SI 23m. In the 
first four months of this year 
there has. been some improve- 
ment with British exports total- 
ing £10. 96m against £7.7jm a 
year previously: 

Mr. Stoyar Mishev. deputy com- 
mercial counsellor to Britain, 
urged British companies in par- 
ticipate at the Plovdiv Fair, 
becasue. he said, 60 per cent of 
alt contracts awarded by Bulgaria 
are signed at the Fair and many 
more negotiated. The total level 
of transactions at last year's fair 
was S3.6bn. . ; ~ 

He singled out several sectors 
which offered British companies 
particular potential. 

9 Offshore oil exploration — Bul- 
garia needs know-hoyr and equip- 
ment for exploration work in the 
Black Sea. 

• Metallurgy — Bulgaria is estab- 
lishing a major;* flew complex 
which includes a foundry. GKN 
is understood to be involved in 
negotiations for this project. 

• Chemicals — several projects 


S.irv' jit 

;T"j Nit- . 

r. rr. ;:*a! t 

_« 7 asMp- 

'■* '■ 'T 


J 


m 

SS*aSc 


HONGKONG (Selangor) RUGGER 

MR. MATHEWS’ STATEMENT 

■ ?•••■ 

The Sixty-Sixth Annual General Meeting of 'tHongkong 
(Selangor) Rubber Limited was held on June 9 in Lphian, Mr. 
D. R. Mathews, the Chairman, presiding. 

... -. The following, is art extract from 'Ms circulated statemsjnt : — , 

«mp»ny .for 43. years. as * director rin&ngi ! 
,34- years, aaf Chairman. M r.Jack ArfdinseJI retired an.-ikt, R&hch v 
1978. ' c .Sir- Finlay Gilchrist. O.B.E., who;. joined the boj»rd 

- also- tat- September <Mf. P. TJ Guruon, j>U4. and 

H. Paylor have been appointed'to fill the vacancies. Both' gentlemen 
. are well quajified fay their extensive experience in -the management 
of plantation companies, both having also served in the East for 
many years. Their confirmation at the annual general meeting is 
warmly recommended. Shareholders will wish, me to acknowledge 
the outstanding services which the company, has .received from. 
Mr. Addinsefl and Sir Finlay -Gilchrist. 

Rubber crop harvested during 1977 was 4 per cent below 
estimate but at 307.084 kg. was considered satisfactory taking 
into consideration the effects of protracted wintering and a 
subsequent dry spell. Net proceeds from rubber sales were 
£128.301. down by the same percentage From the 1976 figure. 

- ... . . Hongkong ’Tin started mining again* in the company's leases ' 
during the year, and tribute income, received from July 1977, 
totalled £53715 for the financial year, in January a landslide 
covered both gravel pumps in. the mine hole and tin ore prodpe- 

- tion has-been affected while rehabilitation work proceeds Pnasem 
Indications' are that it should be possible to restore both mining 

‘ units, by June and the Tin Company Intends to make up for the 
delay by installing additional mining units. Tribute income fo the 

-'current financial year to date is' £ISiWJ0. - 

: - r ' V". A : r"ecenc speech ' by the .Chief Minister of Selangor sugsesis : 
thai^e State government intends that renewal? of mining kaa«- 
future be conditional upon some participation by a Sute . 

■ mtane company. V No official notificanon has, however, been 
U5mulpw3^but the Tin Company . expects . to have largely eonj- 
the' raining of the area fevered by our teases by their 
7 jBCpii|X dates. J - 

- The suroius on' trading. -including tin tribute, was £62.578 and. 
'after bringmg^n investmL: income and the share of associate^ 
;.S^>"s a profit, the pre-tax profit was £113^36. compared with ; 
;>JSjS for the previous year: We are recommending * final . 
"'•dividend of 5.94 -pence . per share making, with the interim of 1 J2. , 
hS^idJast -February, a total of 776 pence. per share for the ; 
"?££-- Projects for, 1978 depend largely upon: tin tribute rece '”J 
■VSttSX'bi asis-of Che situation . report«l_above we hope rhat^ 
i res.uits will be as satisfactory as those for 1977, 

V' : ; T he" ^Report was' adopted: 

ANO SKMTARUSi HARRBONS ft CROSFIELO. LIMITED 


are being undertaken in small 
tonnage chemicals furfural 
alochol, polypropylene and phos- 
pho-gypsum.- CJB and Simon 
Carves have already undertaken 
contracts in Bulgaria and it is 
hoped that the visit here next 
month of Mr. Pankov, the Bul- 
garian Minister for the Chemical 
Industry, will result in further 
participation by British com- 
panies. 

• Machine building — plant capa- 
city is being doubled under the 
current Five Year Plan while a 
major project is being under- 
taken as a joint venture with 
Romania on the Danube. Mr. 
Toncho Tchakarov, Bulgarian 
Minister for Machine building 
is to visit Britain before the ead 
of the year. 

9 Coal mining — readability 
studies arc being undertaken by 
the NCB with a view to develop- 
ing coal reserves in north 
eastern Bulgaria. If exploited 
Bulgaria is likely to look to 
Britain for coal raining equip- 
ment. 

• Agroindustry — although the 
main contract for the Silistra 
project was not in the end 
awarded to a British consortium 
the Bulgarians have indicated 
that there is still considerable 
scope for British participation 
both in this and other such pro- 
jects 

One of the problems of export- 
ing to Bulgaria is their prefer- 
ence for barter deals which are 
tied to the output of a particu- 
lar plant, though this does not 
appear to have deterred other 
European countries. Another, 
pointed out at the press confer- 
ence by Mr. R. Robson of Plessey 
(whose company has done a good 
deal of business in Bulgaria) is 
that it is often difficult to find 
out. 1 , from Bulgarian ministers 
and -^industrialists just which 
projects are open to foreign par- 
ticipation- It is hoped that this 
will be bne of the subjects dis- 
cussed at the Sofia meeting later 
this Tnontnvof the joint British 
Bulgarian Commission. 


Renault may expand in Romania 


SHIPPING REPORT 

Tanker charter rates in the doldrums 


Regie Natinnale <ie<! U sines 
Renault is negotiating with the 
Romanian authorities lo incn*;t-'e 
its activity in ihe country. 

Romanian Vice-Prime Minister 
Gbeorgbe Radulescu told the 
Franco-Roin a ma n Gn-uperat ion 
Commission the aim of the 


PARIS. June ll. 
negotiations: i, to double the out- 
put capacity of ih«- Pitcst: 
factor? ai '\mch R»*n.io!t vehicles 
are prodmvd at the rate of 
75.000 a ;■ v:i i\ 

Mr. Radiilesi it added that 
Franco- Romanian trade should 
increase iu Fr u.Sbn year ny 
1980 from la?: vear's Fr il.'Jbn. ' 


BY LYNTON McLAIN, INDUSTRIAL STAFF 


new Canadian 

DEVELOPMENT 
AND REAL ESTATE 
6IIIDE 

Th# vast Madein- Hunter publishing 
iwmork is just bringing out in NEAL 
ESTATE DEVELOPMENT ANNUAL 
for Canada lor 1978. 

Anyone looking tor access to that 
profitable market will find thit an 
invaluable introduction and guidebook. 
-Thii year's edition provides two 
distinct services. First, government 
and industry enperts offer solid 
■ opinions on trends in the industry 
' and a Forecast for the coming year. 
These are ' supplemented with such 
surveys as Major Project*. Availible 
. Office Space and such useful sections 
as Foreign Investment Guidelines. 
Secondly, a large directory section 
provides over 12.000 names and 
addresses of members or appropriate 
'.UMC/acfoni in Cjmdi together with 
corporate and financial reports pi 

« ublic .and private companies in the 
,W - 

To the newcomer considering access 
to the development market in Canada. 
THE ANNUAL is an ideal acquisition. 
And at STS, die price is right. 

Copies eat be ordered directly /ram: 
THE BEAL ESTATE DEVELOPMENT 
ANNUAL, 

. 4tt University Avenue, Toronto, 
Ontario. Canada MSW 1A7. 


TEA 




irdm 9% to 10% pa. wittaffect from 
Monday 12th June 1978. 

Tie rate of interest on 7-day notice-Deposit accounts 
; : ai)d Savings Bank accounts is increased 

V i • : . from 6% to 6/4% pa. 

; The <^ahge niBase Rate andDepositacxount 
ihterest wlalso be applied W the same date 
ft die UnitedKingdom branches of 


en Kgs 

m 


m 



1 

T 


m 

m. 

na 

2 

sss 


n 

m 


tA/orld Economic 


INDUSTRIAL PRODUCTION 1970 


W. Germany 

Holland 

U.S. 


April *78 
IIS 
128 
136J> 
March 78 


March 78 
IU 
T25 
134.6 
Fch.78 


% change 


UK 

103.7 

103.9 

Franc* 

130 

127 

Italy 

1 30.4 

I19J 

Feb. *78 

Jan. 78 

Belgium 

109.1 

T 06.6 

Jan. 78 

Dec. 77 

japan 

132.3 

130.9 


Feb. 78 

April 77 

on year 

113 

115 

0 

127 

132 

-3.0 

132.8 

130.1 

-45 

Jan. 73 

March 77 


103.2 

103.3 

-0.4 

126 

128 

4-1.6 

122.4 

138.7 

—6.9 

Dec. '77 

Feb. 77 


105.5 

716.9 

-5.7 

Nov. 77 

Jan. 77 


129.8 

128.8 

-r2.7 


TANKER CARGO rates remained 
alnuist unchanged last week, 
cuniinuing on the lines noted by 
brokers for several months. 

There was a moderate increase 
in activity for very large crude 
carriers on aehalf f'f U-S. oil 
companies. But even the entry 
rf major companies, including 
Exxon and Socal had little effect 
on the rate structure. World- 
scale 19 appeared firmly estab- 
lished. 

The week passed with a better 
than expected number of fixtures 
concluded, but there was no 
major change in owners’ fortunes. 
The Carribean Sea loading 
terminals absorbed a fair 
amount of black oil carrie-'s in 
the small to medium range sizes. 
Towards the *nd of the week, in- 
quiries eased. particularly 
among U.S. charterers. 

Inquiries for tonnage in the 
medium size ship range from the 
Mediterranean and West African 
sectors remained steady. But 


even current rates may not he 
sustained. Galbraith Wrightson. 
brokers, said last week. 

In the clean cargo sector, the 
Mediterranean again showed the 
best returns for owners, with a 
number of fixtures reported from 
the refineries in the region. The 
main cargoes were unleaded pro- 
ducts, including naphtha and jet 
fuel, with most cargoes moved 
in t smaller, older tonnage. 

^One U.S. oil company con- 
cluded long-term deals op VLCC 
tonnage. Up to five ships may 
have heen fixed, three for 12 
months each, and two Japanese 
relets for three years each. On the 
three-year deals, a rate of 
Worldscale 29 was understood 
to. have been fixed. 

The Gulf was the n»«in arc« 
last week still suffering from 
the malaise or husiness and the 
continuins over-capacity in 
world shipping. Only six new 
VLCC/ULCC orders were placed 
on the market. For medium 


sized units inquiry was sufficient 
to maintain existing rates..'! A 
40.000-tpn vessel closed a deal 
at Worldscale SO. 

Trade between Indonesia and 
the Gulf has been more buoyant 
than generally elsewhere. Rates 
rose slightly with a . ISOJKKMcm 
vessel fixing to the West At 
Worldscale 40. * “ 

On the sale and purdiaso 
markets. Iasi week was reported 
by brokers to have heen the 
quietest for some time. The 
main interest still lay with the 
hulk market, but there was very 
little attractive tonnage avail- 
able for sale. 

British Petroleum made a 
notable impact on the dry carpo 
market, with its requirement to 
ship 750.000 tons of coal annually 
from Richards Bay, South Africa, 
to Denmark from 1979 to 19S3. 
In other trades, grain-was. quiet. 
Panama vessels may, in'- the 
medium term, still be abl»_tn 
obtain a premium. 













**• > '9ygjy~'.- • y>~ yy *” -t 





A '"'- ' -C- ' 

. 'V ? 


Beforeyou go tojapan, it’s agood 
idea to know something about this 
fascina ting and very different 
country. 

That’s why Japan Air Lines have 
published two superb books that 
will make learning about Japan a 
pleasure. 

‘Business in Japan' will give you 
important insights into Japanese 
business practice and procedure. 

And ‘Introdutingjapan’ willgive 
you a broad picture of Japanese 
history, culture and religion. Like 
we said .‘Japan from yen to Zen. 

When you get to Japan, you’ll 
find thatJAL is on hand to give you 

more help. 






In Tokyo, on the mezzanine floor 
of thelmperial Hotel, you’ll find the 
JAL Executive Service Lounge. 

With everything you need 
except the overheads, it’s almost 
better than havingyour ownTokyo 
office. 

The lounge has regular office 
facilities - free or at anominal charge 
-and the JAL staff there will take 
care of your travel and accommod- 
ation arrangements. 




=;;n 

EXECUTIVE 
S ERVIC E v 





wm 




They will also help you with all 
aspects of your business, including 
introductions to Japanese com- 
panies, through JETRO, the Japan 
External Trade Organisation. 

Remember too, these are just a 
part of the JAL Executive Service, 
the first and still the most compre- 


hensive package 
of business aids 
for executives 
visiting Japan. 

It gives you all 
the help you need -before you go, 
on the way and when you get there. 

With at least 25 flights a week 
from Europe, andJALs incompar- 
able in-flight service, you’ll realise 
why JAL fly more Europeans to 
Japan than any other airline. 

Weneverforget 
how important you are. 





S'/ j End out more bvcontacting the Executive Service Secretary 
* - '■ at your nearest JAL oSicc, or mail this coupon today. 

{< To:Japan Air Lines, S Hanover Streep London WiR 0DR. 









Coal Board, Shell 



discuss £15m. 


gas from coal plan 



‘broadcast code’ 


BT RICHARD EVANS. LOBBY EDITOR 


BY DAVID FISH LOCK, SCIENCE EDITOR 


THE NATIONAL Coal Board is 
discussing with Royal Dutch 
Shell its possible participation 
in a £15m seven-year project to 
convert coal into a liquid feed- 
stock for the petrochemical 
industry. 

The new process, called super- 
critical gas extraction, is one of 
three British coal conversion 
techniques which the Govern- 
ment announced last month it 
would help to fund. 

The Department of Energy is 
to provide £20m towards an esti- 
mated total cost of £43m to 
demonstrate each of the three 
technologies on the scale of large 
pilot plants. 

The Coal Board believes the 
ideal site for a supercritical gas 
extraction pilot plant would he 
close to both an oil refinery and 
a coal mine. 


The plant is envisaged as 
consuming up to 24 tonnes of 
crushed coal daily, and as pro- 
ducing a hydrogen-rich extract 
at the rate of up to 10 tonnes 
a day. 

This extract dissolved out nf 


the coal bv hot, high-pressure 
toluene vapour is free from 
sulpber and i* readily converted 
into petrol-chemical products or 
liquid fuel?. 

The residue of coal — char — 
would be converted tn a gas. 
also suitable 3^ a feedstock for 
chemicals or liquid fuels. 

The Coal Board, which 
believes it l*’ads the world in 
developing this process, wants 
the nest stop to demonstrate 
dearly that w is no loaner just 
a scientific id-a. says Dr. Joe 
Cihsnn. the boird’s member for 
science. 

Experiment? in recent months 
on a small pilot plant at the 
Coal Board'* Stoke Orchard 
laboratories has already shown 
that it is possible to obtain yields 
of 4q to 50 per cent on C03l 
extract — a? high as the best 
laboratory experiments. 

Dr. Gibson hopes that Shell 
research will confirm the Coal 
Board's enthusiasm for the tech- 
nology wish it? own feasibility 
studv'm paralld with the Board's 
preliminary de.ugn study for the 
larger plant. 


LORD THORNEYCRO FT. Ton- 
i servative party chairman, has 
I rejected Labour Party demands 
for a mutually agreed code of 
conduct on the content of party 
political broadcasts after com- 
plaints about the Tory broadcast 
last week. 

Mr. Ron Hayward. Labour 
party general secretary, had 
written criticising the party 
political broadcast on the 
grounds that iherc was "a pos- 
sible deception of many viewers 
... by the admixture of actors 
and people photographed in Lite 
street." 

The Conservative party chair- 
man replied yesterday that there 
wa? nothing new about the use 
of actors in party political broad- 
casts. He gave an assurance 
that all the street interviews in 
the broadcast were genuine. 

“ 1 am surprised if. as you tell 
me. some Labour politicians were 
unable to make I'nr distinction 
between the singed sequence; 


and genome street int^r.’i 
I certainly do not believe Os; 
members nf the public ••-.■re 
misled." Lord Thorne;- er-'‘f‘ 
wrote. 

According to Conscrva'tve 
politicians, the row 
ihe anxiety of many l.ai.-'ur 
leader* at the increased profes- 
sionalism injected into T--ry 
broadcasts recently by Sa-'ivlr 
and Saatchi. the party's .adver- 
tising agents. 


Signatures 

The broadcast on Thur- 
was ihe second party’ puli I 
they had prepared. 

Lord Thorneycroft saiii 
ho did not see the purpo*-.’ 
supplying Labour with 
names of the actors. " 
acinr; and the crew who iu 
this film were professional < 
and women going about s; 
lawful business. 

'Ml might well hp a im 
of concern to snnip nf then 


their names had tn be supplied : 
t for what purpose you do not . 
specify) either prior to or after; 
undertaking work of this 
nature." 

“A signature of consent was 
obtained from all those members ' 
of the public filmed. This has • 
always been our practice where, 
party political broadcasts are 
concerned." 

On the question nf a code of 
conduct. Lord Thorneycroft said 
that all parties operated within ■ 
existing broadcasting regula- 
tions. 


Australia 
and UK 
to discuss 
cheaper 
air fares 


umon 


iold : ; 


By Lynton McLain - 


BY ARTHUR SMITH. H.Pl*NPS CORRESPONDENT . ^ ' fejj. , - 


LEYLAND toolmakers, woo 

resotvgl on an ' Lump'sdm pajat 

'strike. .today. look set to presc »« between £1^50 v.y 


BRITAIN and Australia are to 
start talks in London Ibis week 
on cheaper air fares between 
the two countries. 


WSSSr.-.3?S “ «** imS£$Sfa;£i:‘:: 

ml|, g Ulttaalmn. . _ « W giK g.&T. . 


” In addition, it seems to us 
that two very simple principles 
should apply. Facts given should , 
be- correct. Opinions should be , 
given honestly. : 

•' l imagine you would agree 
with me that a party should 
express its message with all the . 
professionalism it can command. 
All the facts in our broadcast 
••• ere correct " i 


Mr. Peter Nixon. Australian 
Transport Minister, said that 
the negotiations were part of a 
wide-ranging review of Austra- 
lia's International afr policy 
towards cheaper fares. 

The talks are expected : to 
cover plans For excursion 
fares, including a proposal' by. 
Sir Freddie Laker for a cat- 
rate service between Britain 
and Australia. 


^rasing ultimatum. . _ have to be ovec^.mM^P^^.^r * . . . 

I- ’A-raaas an agreed > ***&?&££ ‘ . 

iat Mhntagbam Town »aU t >. 1 ' 


at Birmingham iow» structurB 

vofpj oi a call for umej 1 at v- ieast"fba >iow«?-ii6idlr 

scripfcrous to be oTrfrtui plants are aware tbat the-JUffl^eS:^--.. 
the- national executive of the v ttnoi « ■ “ 


m national^execuuve^ coming t^rougfe/^itWafc^ 

SSSiT’tSUiniS.- . 

.within BL Cars. . „ The response to todays v 

: Such a move would undertioe uno fficial body fort-'.* token.; j. : 
the' fact that the Jootoafeers- ^ wiu be an 

grievance largely concerMrepre^ ^ su pp 0 rt- y =.- ? £ ; • 

skilled men in the union as weti ” j^Terrv Duffy . ] ■ * 
as- 'eroded differentials at hey- of "£ e AU g W> ftBd theiMUBaiBa:, ^ : 

nF the damaging executive member, ' . 

rrff0 * 

•JfSStS aS «ems unlikely through ^ the - #4^^ 

The leadership of the unofficial machinery. „ icj, v.< , ■ . 
-'committee which claims sup- OF. the range ^r-sanctm^^-- , ' f| 

Srt^rem’ about half BL Cars' short of j total stoppag^.-ttroT^ - ;- fl.vJiU - 
SSS) -toolmakers, is conscious sldered by ^the , -• tool mak ers i * •> rr • . 

Sar conditions have changed withholding of union dtwa seenr s 
dramatically. . likely to be the tnost.effoc^ver 

The prolonged reappraisal of politically.^ - . -Ti - .* 

Levtiuid's operations has under- Mr. Roy Fraser, leader ol. the-.- . - ' 
mined militancy, and Mr. Michael unofficial . toolmakers, is-alsou.., - i- 
Edwardes. the new chairman, chairman of another unofficial y 
has made it clear that the com- grouping, the Engineering Craft . y 
party faces a make-or-break year, committee. . . -r 

* cide the three This body, set up ht respOMe ^ ' - 

from e ’wWch the to the alleged fmstratiOM of;, . 

unofficial ^raiu ttee draws sup- skilled workers at' the -re^tiv^V ' 
nSrSowfc^ Longbridge and decline, in their position, blai^R- 
Castle Brom’wirh — are among the membership .across -fee carv-^-i - • 
SeS-pa.d and will stand- to dustry and among. .. the Jaadwg'... ... .. 
gain from the present moves to components suppliers. ; V- :. .. 


Longest 


Sacrifices to slow inflation 


Many Europe hotels! wasted, says Mrs. Thatcher 


"Before we take any final 
decisions, Australia, has de- 
rided to discuss them with the 
British Goi eminent. The. UK 
is at the end of onr longest 
and most Important air route. K 
Mr. Nixon said In Canberra at 
the weekend. 

• Scheduled services- be- 
tween Manchester and Mon- 
treal by Boeing 747 are being 
inaugurated by British Airways: 
today. 


lect* 0? 


fire risks, says MP 


BY ROBIN REEVES 


BY DAVID CHURCHILL 


A CALL for a licensing system 
to improve safety in European 
hotels will be debated today by 
the European Parliament in 
Strasbourg. 

The system is proposed in a 
special report to the Parliament 
by a member. Mr. Jim Spicer, 
who is Conservative MP for West 
Dorset 

The report says that fire pre- 
cautions in many hotels are in- 
adequate. Last year 35 were 
killed m two hotel fires in 
Amsterdam and Brussels. 

At the week-end at least 22 
people v.-ere reported killed in a 
hotel fire at Boras, Sweden. 

Mr. Spicer said in his report 


that safety standards differed I 
widely. [ 

Many British hotels had been 
"forced to close" because on 
their inability to comply with | 
safety standards under the 1971 
Fire Precautions Act. J 

But in other European coun-j 
tries, hotels had only to obtain j 
a licence to operate, with few 
checks on safety. 

Mr. Spicer proposes that the 
European Parliament issue a 
directive to all member-countries i 
urging them to ensure certain ! 
minimum safety precautions 
swiftly. They include fire safely 
instructions in every room, mark- 
ing of fire cxiis. and provision 
of extinguisher;. 



MRS. MARGARET THATCHER 
told the Welsh Conservative 
Conference in Llandudno at the 
weekend that the '.Inver nnient's 
latest monetary package clearly 
demonstrated that the sacrifices 
Iasi year to slow the pace of 
inflation had been wasted. 

“What an indictment of the 
Government that with output 
barely hack to the level of four 
years ago. when we were in 
office, with unemployment at 
levels unknown since the 1930s. 
it has had to slap on another 
credit squeeze to try and avert 
yet another sterling crisis, of 
its own making." she said. 

Mr. Callaghan wa* “whistling 
in the dark” and "living in a 
make-believe world of his own '' 
when he said he saw no reason 
why inflation should ever go 
back to double figures. 


extra 4p on income tax. though. " they should tear off the mask ! 
of course. Ihis effect won't o uto of moderation and look in the 


Oil disaster 

• » 

through until afu-r October mirror." 271fllJ]l"V 

“Once again, il is the Mr Nicholas Edwards. Shadow J *“'4** x * J 

producing purr of the ntti’-r.. Secretary fnr Wales, disclosed; 

mostly working in pi'i'-'j" that, in office, he proposed to.' 51 yi/SjllK Kc*V 
industry which has to carr; :he reduce iho size ur the Welsh! ^ 
whole »*f the can fnr Labours Office substantial!’.- “ bv stopping; •j 
total failure in manage tin? (,* interference' with local* WllTlP^ 
economy properly.” sm-crnnient." Thtv was “whan TT ILllVkJkJ 

This "cynical political nnn- devolution should be all about/M 

KSTr h - l 5 JM?r? , f ■“*!!£! B ' p “' Ta,,or 

ihP min hr.uin “ civil sen-ants. In the life. 

Mrs TMther defended her- of ,he P rrs,?nI Government its j THE OFFICIAL inquiry into the 
eeif aa-iinct the eh-ree of responsibilities have been greatly ; Amoco 'Cadiz disaster resumes in 
“extremhin" & increased— the most recent be- [London today but Is unlikely to 




Yorkshire rescue -mm. 


By Paul Taylor 


call off strike 




Description 


Telephone 


TAYLOR AND CHALLEN AUTOMATIC single 
strike toggle action coining press. Capacity 
100 tons, speed infinitely variable up to 160 
spm. Blank sizes up to 25 mm. Stroke 24 mm. 

SIMULTANEOUS DOUBLE INLINE 
MILLING MACHINE for continuously cast r*r 
semi-continuously cast non-ferrous strip. 16- 
wide capacity. 

9 DIE, 1750 FT/MIN SUP TYPE ROD 
DRAWING MACHINE equipped with 3 speed 
200 hp drive, 20" horizontal draw blacks. 

22" vertical collecting block and 1000 lb 
spooler. I Max. inlet 9 mm finishing down 
to 1.6 mm copper and aluminium.) 

8 BLOCK (400 mm) IN LINE, NONSUP WIRE 
DRAWING MACHINE in exce ; lent condition 
0/20n0ft/min. variable speed 10 hp per block 

( 1968). 

24 " diameter horizontal bull block 

By Fanner Norton ( 1972). 

SUTTING UNE 500 mm x 3 mm x 3 ton capacity 

TWO VARIABLE SPEED FOUR HIGH ROLLING 
MILLS Ex 6-5Q" wide razor blade strip 
production. 

MODERN USED ROLUNG MILLS, wire rod and 
tube drawing plant — roll forming machines — 
slitting — flattening and cur-to-Iength lines — 
cold saws — presses — guillotines, etc. 

1974 FULLY AUTOMATED COLD SAW 
by Noble & Lund with batch control 

1970 CUT-TO-LENGTH UNE max. capacity 
1009 mm 2 mm x 7 tonne coil fully 
overhauled and in excellent condition. 

1965 TREBLE DRAFT GRAVITY WIRE DRAWING 
MACHINE by Farmer Norton 27" — 29" — 31" 
diameter drawbacks. 

STRIP FLATTEN AND CUT-TO-LENGTH LINE 
by A. R. M. Max capacity 750 mm x 3 mm. 

6 BLOCK WIRE DRAWING MACHINE equipped 
with 22" dia x 25 hp Drawblocks. 

2 15 DIE MS4 WIRE DRAWING MACHINES 
5.000ft/Min. with spoolers by Marshal Richards 

3 CWT MASSEY FORGING HAMMER 
— pneumatic single blow. 

9 ROLL FLATTENING MACHINE 
1,700 mm wide. 

7 ROLL FLATTENING MACHINE 
965 mm wide. 

COLES MOBILE YARD-CRANE 

6-ton capacity lattice jib. 

RWF TWO STAND WIRE FLATTENING AND 
STRIP ROLLING UNE 10” x 8" rolls x 75 hp 
per roll stand. Complete with edging rolls, 
turks head flaking and fixed recorler. air 
gauging, etc. Variable line speed 0/750 ft/min. 
and 0/1500 ft/min. 

NARROW STRIP STRAIGHTENING AND 
CUT-TO-LENGTH MACHINE (1973) by 
Thompson and Munroe. 


0902 42541/2/3 
Telex 336414 


0902 4254 1/2/3 
Telex 336414 


What else was the country to 
make nf a Government which 
promised single-figure inflation 
" forever " on Tuesday and pro- 
duced a double-figure bank rate 
on Thursday and all but a 
double-figure mortgage rate on 
Friday? 

Describing the increase in 
national insurance contributions 
as a “jobs tax," Mrs. Thatcher 
said that .the new measures 
would destroy 100.000 jobs and 
eventually add li per cent more 
to the cost of living. 

“It is the equivalent to an 


“ evtremHin " 5 ‘ increased— the most recent be- [London today but Is unlikely to 

i'« j, pvtrpmLsr to wan- to i 11 ? the addition of agriculture,'. hear evidence from the kev 
cut taxes. 'o be concerned ;ii<-ui ^ d i most higher cducation ' witness. Captain Pasquaie Bar- 
the declining standards in t dari ; Tessel s master - an ™ 

•schools and hospitals, increasing . T ’]. c "!l " as next week - 

lawlessness and violence. ‘ ' r ' ^ l h nr ^ 1 1 v°f^! t Captain Bardari has been held 

about the rundown of the arm-i ' a , nd " as by the French authorities since 

forces then. yes. she wa.* -*' 1 ° ha e b consloerab,e i the incident in Mareh when the 

extremist, and in good company. ■*%***■ ...... „« f l Tesse l ,s steering gear failed arid 

The party faithful were sent| the ^ Cadiz grounded and 

Sense of purpose SiWJ General h El?cti0B r cam broke up on the Britcan * c “ st * 
There would be no “estrer.i- p a ,^ d G Elcctl0 ° cam spilling thousands of tons of oil. 

ism” in the coming Conservative J! The Liberian Bureau of Mari- 

Govermnent. w’&.IS EL J°A,rtSrt». 0 f.25 Affaiw in London says that 

“A change of direction, a new jJ Ve,s J L,™ i,«° Ue,1 T £ il “Pccts Captain Bardari to be 
and lively sense of purpose a T„ ; . ; L h iL.c Z allowed to leave France to give 

progressive putting of our house evidence 10 the « nt|uijy this 

In ..°I? ep -y ??• „ ... h S5iJJKf c wee ^- He « expected to arrive 


BY NICK GARNETT, LABOUR STAFF 


Sense of purpose ^ 

There would be no “estrer.i- p a j Kn 
ism " in the coming Conservative 
Government. 


“These things there will be, -af^ipclfon oarticufarlv^ti in Lon£lon on Wednesday or 
and not a day too soon. Sut General Election, particularly If Thursdav and will probably ] nfGriaiJ 

extremism there will not be. in there is a sharp decline in the JJj ev “en C 'e next Monday ^ lSSttfe 

either our policies or our party." Liberal vote. _. . ... . , ^ 

If Lahour really wanted to Top of most Tory lists of hope- The board of inquiry began its 
know where the face of fuis are Brecon and Radnor and hearings last month under the 

extremism was .to be found Swansea West. chairmanship of Sir -Ccrt-don 

— - -■ - - — — WiJImer, a former High /Court 

Admiralty judge. Most of the 
r tj ■■ • . 1 evidence presented to the board 

Worker directors nlan 


0902 42541/2/3 
Telex 336414 


0902 42541/2/3 
Telex «364i4 
0902 42541/2/3 
Telex 336414 


Government 
takeover 
cash delay 
attacked 


YORKSHIRE'S mine rescue men 
yesterday accepted the national 
regrading deni for rescue bri- 
gades and called off their strike, 
due to start today. 

The decision was taken, late 
yesterday, following- a meeting 
between area officials, including 
Mr. Arthur Scargill, the National 
Union of Mine workers' Yorkshire 
area president, and the rescue 
workers who have been pressing 
'for- a larger share in bonus pay- 
ments. ' 

Scotland's only mine rescue 
team, based in Lanarkshire, was 
due to ilieei NUM and Coal Board 
official^, today s -following . theiti 
.reluctance to accept rescue 
brigades’ 40 per cent bonus 
entitlement 

The regrading deal includes a 
cut in duty and standby hours 


from 100 to 83, “and an extra 
a week in recognition of the* V 
special nature of the Job./ ah*"?. * 
compensation for loss of ear ning . ? : .■ ; 
involved in new Toster.'arrange- • 
ments. - ‘ V. ■■ - - * - 

• Mr, Lawrence Daly, general* ; 
secretary of the National Union 
of Mineworkers; tras . .promise* 1 / : 
continued co-operation: with: the-/ .. 
Government — provided miners , 
are rewarded- ’ v"; 

In a speech at the anhasT?.'-' 
miners* picnic in . Bedlington; -*: 
Northumberland, he dealt .witbf \ ; 
the “economic contract’’ re- 
ferred to recently by Mr. David'* 
Basnett, General and Municipal.-' 
.Workers. Union leaders-. 

“1 have alway s made it diear 
that provided we g"et the Towards “• ' 

of our co-operation, i am./ia.. 
favour of co-operating with . • 

Labour GovernmenV he' said;. ■ 


K?AN 


Worker directors plan 


ing gear and the events sur- 
rounding its failure. 


090242541/2/3 
Telex 336414 


By Lynton McLain 


0902 42541/2/3 
Telex 336414 
0902 42541/2/3 
Telex 336414 


0902 42541/2/3 
Telex 336414 


090242541/2/3 
Teiex 336414 


0902 42541/2/3 
Telex 336414 
090242541/2/3 
Telex 336414 
0902 42541/2/3 
Telex 336414 
0902 42541/2/3 
Telex 336414 


AN ATTACK on the Government 
over compensation for nationali- 
sation of the aircraft and 
shipbuilding industries is made 
this morning by Mr. Michael 
Grylls. MP for North West 
Surrey and vice-chairman of the 
Conservative Industry Com- 
mittee. 

Only £28m, about 5 per cent of 
the £500m compensation had 
been paid 14 months after 
vesting day for British Aerospace 
and a year after vesting day for 
British Shipbuilders, says Mr. 
Grylls in a letter to Mr. Eric 
Varley, Industry Secretary. 

This is nothing short of 
"scandalous financial hi-jacking" 
by the Government. 


0902 42541/2/3 
Telex 336414 
0902 42541/2/3 
Telex 336414 
0902 42541/2/3 
Telex 336414 


Expansion 


0902 42541/2/3 
Telex 336414 


090242541/2/3 
Telex 336414- 


BAR PEELER — 4 CENTRELESS. Reconditioned 


BENDING ROLLS 8' x Excellent. 


CONOMATIC 6 SPINDLE AUTOMATIC. Fully 
reconditioned, will turn and index to maker's 
limits. 

SCHULER 200 TON HIGH SPEED BLANKING 
PRESS. Bed 48" x 40" 200 spn. Double roll 
feed stroke 35 mm. excellent condition 

TAYLOR & CHALLEN No. 6 DOUBLE ACTION 
DEEP DRAWING PRE5S. Condition as new. 

VICKERS 200 TON POWER PRESS. Bed 40" x 
36". Stroke 8 '. NEW COND 

MACHINE CENTRE Capacity 5ft x 4ft x 
3ft 5 Axes continuous path 51 automatic tool 
changes, 5 tons main table load. Main motor 
27 hp. Had less than ore year's use and in 
almost new condition. For sale at one third 
of new price. 

WICKMAN 2J 6SP AUTOMATICS 1961 and 1963.! 
EXCELLENT CONDITION. 

4,000 TON HYDRAULIC PRESS. Upstroke 
between columns 92” x 52" daylight 51”. 
stroke 30". 

COLD HEADERS BY NATIONAL 
\" and J" DS5D EXCELLENT. I 

ANKERWERK 400 TON INJECTION MOULDER- j 

Reconditioned. 


01-9283131 
Telex 261771 
01-928 3131 
Telex 261771 


01-928 3131 
Telex 261771 


The Government had accused 
industry of failing to invest, yet 
Vickers had cut its investment 
programme by a third as a result 
of the delay in payment. 

' Lord Robens, chairman of 
Vickers, said last month that 
Howson-Algraphy. its litho- 
graphic plate subsidiary, would 
not be able to expand on to a 
newly acquired site. 

Production at the company’s 
works had absorbed all available 
capacity, but there would be no 
expansion until compensation for 
nationalisation was received. 

Vickers had been paid only 
£3m for its 50 per cent share nf 
the British Aircraft Corporation, 
valued at £150m. 


worries managers Training 

Experts are expected to be 

GRAVE CONCERN about the Sir Derek mentions in his letter 

Government's proposals for to Mr. Dell points which he says! ? ,v,n * techmcal evidence, mclud 

employee participation was the White Paper leaves un-j *"8 . f 05 ™ 15 0{ tesl5 on 

expressed yesterday by Sir resolved, in particular the estab-j gear. 

Derek Ezra, chairman of the lishment of a joint representation 
British Institute of Management, committee, representing all inde-ljj™ 

Sir Derek, also chairman of pendent recognised trade unions 

non , hi Representatives of non-union and certification which begins in 

i and to Mr. Edmund Dell, toe groups, however, large, would London on Wednesday. 
[Secretary for Trade, ashnn- for have no right to membership of __ 

I discussions on the Governments the joint representation commit- . J 11 ® co 5!f re Il c ,t B 
| plans. . tee and could only be included ^ 

Sir Derek says in his lelter \ n its discussions If the union J® dis ™5 s ?•> 
to Mr. Callaghan th.it he is con- agreed. nnn . an “, recommendations 

cerned that managers will not, ,^p h ^ t covering International standards 

of ri n ht be represented ■ he power ^ ° ver . J 5 . 0 , 0 ' of crew training, watchkeeping 

"The British Inlii'mte of un,on ^oups including middle- aotJ certification. 

MnnaSement fully Jippni the radons AJth £ Ugh ,t , wa f ll arran ^ d 

view put forward in ihe ^Vhile Secffiffin settine UD imnt ? ea f ■ ™t will now beheld 
PaD*r thit ihe nolential benefits raecnan,s,n . setting up joint against a background of increas- 
of indu^riJl democracv can £ represenra ^ on T3 c T °“ mi ^ ees ' 15 lug apprehension about shipping 

tion between employers and T o suggest that companies Cadiz disaster, 
employees." ' ! are . f ree , t0 set up parallel dis- the behest of the American 

The Institute believes that ct V sl0ns ^ * s aD inadequate sub- Government the conference has 
their own policy statement— stilute. be^n brought forward from 

Employee Participation. The Way The institute's proposed alter- December because of its im- 
Ahead— would achieve that cp- native was a broad-based portance. It is expected to last 
operation without the need for employee participation commit- 3J weeks, 
legislation. Copies of this docu- lee to represent all grnups of 

j raent loo have been sent to Mir. employees in companies, both * 


Equity s members urged 
to stop squabbling 


MEMBERS OF the actors union 
Equity were told yesterday to 
stop “ squabbling " between 
themselves and concentrate on 
getting a better deal for all 
actors. 

Mr. Peter Plouviez, general 
secretary, told the union's annual: 
conference in London that in- 
ternal squabbling had reached 
new heights during the past year. 

One of the reactions to the 
bickering had been that mem- 
bers had elected a Right-wine 
pnuncil in represent them ”1 
do not believe that this i* a re- 
reflection of a fundamental 


conservatism or a decision that 
Equity should not be militant' 
Members are saying they want a 
move away from these battles to- ' 
wards strong and realistic aims- 
and achievements." . v . .. 

Mr. Milton John, treasurer. 

: told members that Equity's 
■financial future was in' doubt 
Finances were down by £104,000" 
to £201.000 and spending would 
have to be cut drastically during: 
the coming year. * 

Members voted to presr foirrX 
minimum wage of £75 a week' 
and for a return to f ree-coB*ctb£ 
bargaining. 


Dfls. 60,000,000.- 
614% Guaranteed Bearer Notes 1972 
due 1976/1979 


Callaghan and Mr Doll. 


union and non-union. 


Fight to save London's 
Upper Docks grows 


Electrical 
contractors 
‘show loss’ 


SLATER, WALKER 
INTERNATIONAL FINANCE 
LIMITED 


FINANCIAL TIMES REPORTER 


01-928 3131 
Tclcy 261771 
01-928 3131 
Telex 261771 
01-9283131 
Telex 261771 


Lutyens House 
office block 
sold for £10.2m 


By John Brennan. 
Property Correspondent 


OPPOSITION in London's East 
End to the threatened closure of 
the Port oF London Authority's 
Upper Docks has gained, 
momentum with the announce- 
ment of two protest meetings. 1 

The TUC’S South East 
Regional Council and the Joint 
Docklands. Action Group are 
leading local oppusiiiun lu am' 
redundancies in the Upptfr 
Docks because of the impact thqy 
say this would have on related 
industries and services. 

While representatives fro n 
the eight docks unions aJ:o 
oppose closure of one or both tie 


Upper Docks groups, they appear 
in meetings with the authority I 
to be moving towards a joint \ 
approach to Government on the 
dock's future. 1 

Opponents of the closure 
plans have begun a leaflet and 
poster campaign to present their 
arguments and have arranged a 
public meeting on June 29 and 
a delegate meeting on July 11. 

It is possible that the authority 
and the unions will have pre- 
sented tbelr planned joint 
approach document to Mr. 
William Rodgers. Transport 
Secretary, before either meeting. 


By John Lloyd 


01-928 3131 
Telex 261771 
01-928 3131 
Telex 26177? 


01-9283131 
Telex 261771 
01-928 3131 
Telex 261771 
01-928 3131 
Telex 261771 


WANTED 


MODERN USED ROLLING MILLS, wire rod 
and tube drawing plant — .roll forming machine* 
— slitting — flattening and cut-to-lengih line*— 
cold saws — presses— guillotines, etc. 


09C2 42541/2/3 
Telex 336414 


IN ONE OF the largest inter- 
fund pronerty sales of the year. 
Electricity Supply Nominees has 
sold its freehold on the 166.000 
sq ft Lutyens House office block 
In Finsbury Square. London. 
EC2, to flic National Water 
Council Superannuation Fund 
for £T0-2m. 

ESN. the Hhn pension fund 
of the electricity supply Industry, 
sold the mid-lP.IOs block as part 
nf its continuous property port- 
folio rationalisation programme. 
The fund, advised by investment 
■surveyors Richard Ellis, holds 
about £330m-worth of properties 
including a substantial portfolio 
of more modem office accom- 
modation in the City. i 


Margo MacDonald backs 
Labour on devolution 


THE Labour Party found an un- 
expected ally for its devolution 
proposals when it ivas backed 
at the weekend by Margo 
MacDonald, the Scottish National 
Party candidate defcaied at the 
recent Hamilton by-election. ' 

The senior vice-chairman r .of 
the SNP said Scuts would leant 
a lor aboul self-government' if 
plans Tor a Scottish assembly 
went ahead as proposed. 

Mrs MacDonald wa* speakina 
at her parly's national council 


meeting at Dunblane. Perth- 
shire. in opposition to a resolu- 
tion that the Natioanlists should! 
campaign for a "no" vote pn ! 
devolution and instead ro-affirm 
the slogan “ independence — 
nothing else." 

The resolution was proposed 
bv Mr. Alex Ewing, the party's 
prospective Parliamentary candi- 
date for Glasgow Cathcart. who 
agreed to speak on behalf nf 
members nf the Glasenw Castle- j 
milk hranch who lodged it. | 


ELECTRICAL contractors are 
showing a low rate of return 
and many lose money, accord- 
ing to a survey by Jordan Dats- 
quest, financial analysts. 

The main reason for rhe 
depressed state of the industry 
is the tendency over the last 
three years for costs to rise 
by about 30 per cent a year, 
while prices rise by about 20 
per cent. 

Nearly three-quarters of the 
486 companies surveyed have 
turnovers of less than £lm. while 
many are small, one- or two-man 
businesses. 

Extreme fraementatlnn of the 
industry, coupled with' highly 
competitive price-cutting. is 
thought to have been an im- 
portant contributory factor of 
contractors’ inability to raise 
prices in line with costs. 

Some enmoanies — 18 per cpnt 
of those surveyed — were losing 
money. Most companies showed 
little sign of improvement last 
year over the previous year. 

However, indications from rhp 
first months nf this year were 
that ihe industry was experienc- 
ing a slight upturn. 


As provided in the Terms and Conditions of the 
above Notes Redemption Group No 1, amount- 
ing to -Dfls. 15,000,000.- has been drawn for. 
redemption on June 1 , 1 978 and consequently the 
Note which, bears consecutive number 1 and all 


uwua wuacuuuve numoer I and all 
Notes bearing a consecutive number which is 4 or 
a multiple of 4 higher than 1 arepayableon 


July 15, 1978 


Pierson, Hekfaring & Pierson N.V. 
(Central Paying Agent) 


Algemene Bank Nederland N.V. 
Amstardam-Rotterdam Bank N.V. 



Bank Mees & Hope NV 
inAmsterdom 


Banque Generate du Luxembourg S. A. 

in Luxemburg 


ElWInrul ('uHlrei-’hjTs: fri»n 

Jnntan and /OTrfni House, It 

Brumifvb Plore. ,\| iii 

t northern canton ’.£}2 . wHlhern edition i. 


Junk & 1978 . . 










I 

*$ 


Times Monday June 12 1978 



ia?n *fe ' 
wjahs ' 

nd a 

• fte s ; 

2 «UH ■ 
; c Wi* 
Pa* 

>V *MM 
l * aun^ 

* 

5 tiii b; 

3 !Dfc*ji 

-nnooriani 

0n w iich 

"Uilanj, 
a > ur’fti 

1 >n ih e 
nC:r an* 

i: un; fl j 


flHTEDB¥ABTHUR ffiMMETT AND TH) SCHOEIBS 

| TRANSPORT 

City bus goes on 



INSTRUMENTS 

Easy on 
the eyes 


Major companies 
dominate technology 


DATA PROCESSING 

Coral for many minis 




RESIDENT CORAL compiler for reflectance attachment allows 
ihe PDP-11 minicomputer is examination of opaque speci- 

uoimuaic icwmuiugj "^h-icve, p r05ramn , inBi ia r - 

tri button on a pound for. pound h,,,* on PDP-11/34 and 11/40 ~uage “Wizard " based on simple 

ft?* ^attonai Research Deve- »» Cent Q « *w e Eastman Kodak and Chrysler in machines under the RSX 11 M English-Janguagc L-ommands, has 

lopmeot Corporation niade avul- ALMOS I? fc P „-««,«» the S300m bracket and ITT at operating svstem. Future ver- been developed for nUcrodensito- 

?!**? ••I months ago £40.000 to money spent by private concerns P £ e available to run meter 6. An operator with little 

Vision Engineering of Woking in the U.S. during 1977 for ? _ ' — — 


THE NORCREN OLYMPIAN 
TUNIN’ SYSTEM 

This system of Compressed Air 
Processing Equipmenthas 
been extended and " 
nowprovidesfor 

% r %. 14.^1, st- 
andi % inch piping 
installations. 


C.A. NnFJBREM LT&, 



TOEBBCOULD be a consider- the 6.000 or » rails sold since microscope!" Dyn ““ ope ™ wins was by companies in the 
nhle saying in fuel and wear and 1972. The new microscope has now 60 sroup. amounting, to i— . 

^ districts The BR/Leyiand experimental gone into production .and the out of a 5201,11 °T. fl * u f e - 
6honin: tests of a lightweight rail vehicle will be tested at speeds result is a much more compact “Inside R and D which 
vehicle 1 which begin this month im tn so nroh. the vehicle helm- uri*v< mnm fas-iiitino an rt just released these figures, poi 


in IDe u ’°’ UW T S AV i R and D/sales dollar ratios under RTh"and RSXH'D. or no computer experiencej^n 

to develop a better stereoscopic research and development work — - * 

version of iu Dynascope viewing _ K „ **mn* n i* B in th* - Too 


_ showed that high technology Cross-compilers are available learn within minutes P*?® 13 ?! <8 PACKAGING 

'Top -ompanies were in the forefront f or most minicomputers in simple instructions 5Ucn 

group, amounting to Sll.Sbn a5 could be expected, with senerai use and for the Ferranti Tnove to co-oij'natestj- y > "|V^» 

-- *' -guro. Hewlett-Packard again leading F100L. Texas Instruments from there perform a i «{■«“ JSJS 112 S 1 Z 6 

a ugntweignt rail vehicle will be testeo at speeds result is a much more compact "inaae « ana u . wnich has at .9-2 PfJ ".LwITSSj Sil SSn^imraiamxiRn M ° l0r0ia 250 mm." More sophisticated ® 

■ begin this month up to SO mpb, the vehicle being design with zoom facilities and just released these figures, points Upjohn. ^ rc o k _f^ la ^ d M ^°° microcomputers. programs can incorporate inter 

successful. . flexibly mounted on an un- provision fo ~ 

^renyea. from the Leyland powered, modified rail under- number of industrial assembly average growm over me yeai ui ornei tC r and microdensitometer . dt,t N W machines with 

Natiorud ritF bus, the ndibus is Same. “ The U metre prototype and inspection m££Ls 5S some 14 per cent and do no cent £j££j£ °" ™ 5? t £ l whereby “infoSon derived ^ . capaciK dimensTons 

. j[oing on trial as part of a joint is intended to- carry 80 pas- wire bonders in the seraicon- include the ?10bn provided by and devc P j- . ‘**^1 butes of Uie portable co from the specimen determines deS j CTe| j t0 ^gist manufacturers 

evaluation by Leyland Vehicles sengers and their luggage and ductor industry. The reduction u - s - Government sources for the one conclusion to be drawn is piier lncludin^ pOod orror sub3equent SC3nn j n g movements. 6° . comply with 

and British Rail’s Research and consists of two-front ends of city in bulk is lately attributable search they are sponsoring. that in an area of itdiudna i ^ 6 Tht> w,Vjrd ^ofnvare also m- I pSng of 

Development Division of low-cost buses joined together so that to the use of a transmission The ten largest companies in activity where costs are tics and trace facilities. eludes standard routines for * . cnmmo dtties b'- «x- 

“ ““-PorS-W ? a l a ' a i a S\ ft f U Si«^v ovef a »rnaliy idenUfying full* pack 

tton of optua! densi y contents were launched by the 

spei-incn area. 


o 

displays 


eaeaxcii uicy a*u inai *»• — “ V t« 

AieveiQpmeat limaon of low-cost buses joined together so that to the use of a transmission The ten largest companies in activity Y, f !f r .'l« c ° s - s tics and trace facilities, 

vehicle construction methods for driving compartments are pro- rather than a reflection arrange- the U.S. spent some Sfi.Sbn. or very steeply, there is j te . Altogether. 184 compilers and 
possible application to rail vided at either end of the rail ment in a rotating lenticular disc one-third of all industrial funds jowai^ rapt d con centra non o cross compilers for 
systems.. unit. used in Dynascope to produce and noteworthy in this croup R a»d expenditure^ as evi- are now available 

• ■ The inbuilt advantage of using Designs up to 15 metres In the image. was the sharp increasc_of S245m denced by ^ihc Jaures "JJJ* including versions 

- unit derived from machines length are to be evaluated. — ; 


from SDL. 

w image. was tne snarp invicaai; ui a«-wiu iigihw 7" nitriuuu^ *ciBiuii5 for other 

- — .. — ...... .ength are to be evaluated. Main point about the micro- in the Ford Motor Company’s largest companies W at Digital Eqmpment mc^chnies. the 

produced on an assembly line is This experimental work should scqpc “ the elimination of con- spending, taking it into second moral nui.T nc n r c.u v dll-io 

av ' - ■* ' * ■ _ ‘ A at intAMef fri rwanv fiupfutnc vpntinnnl rfiifil mTrrnvnnf» pvp- nhrp at Sl.lTbn. ahead nf IBM GoveniTnenu 


DEC-20. PDP9 and q^o 's^IH. 


,pei-i fieri area. British maker. Lawtons of Livers 

Jnyce-Lpcljl -Marquwja}. Jga™ pool> iast we ek at the Dusseldorf 
/alley, t.ateshcad, NE11 IK2 - int erT , ac b vr exhibition. 


Talking to 


sanction*. 

•■Dltnaken 

iuci setuu 
'• ^Seciiti 

of ih« 

' 11 n , .'Picisi 
‘nr,- Cra : i 

re*3o^* 
.-aV.f-ai 
rvldtc* 
! LlS!Qi 

‘r.e csr ,r- 
iadia 


men 


• ELECTRONICS 


Interpack 7S exhibition. 

Because of its high maximum 
specifications and flexographic 
liquid ink system, the Lawco 
Flexoverprint is said to cope 
specifically with large scale 
operations in terms of pack size, 
print area and continuous quality 
impressions from Lawco Riblok 
type and logotypes on extra long 


pruuuceo on an assemoiy line is This experimental worn snou id scope is tne elimination or con- spending, taxing u mm ' CDOti __ t „ _ llst _ in 

that advanced: technology can be be of interest in many overseas ventionaJ dual microscope eye- place at Sl.lTbn. ahead nr IBM Governments wekn to - • PDP15 r, ocin „„ rc c letame 

introduced as a matter nf course countries. particularly those Pieces. The resulting freedom with Sl.Hhn. but with General a r^onaMe level of Destgncrs S} stems 

wUle manufacturing costs slay where track maintenance is such of viewing position greatly Motors still in the lead at in their re. ecti e co .s House. 57 ’ H J Jh Street. Fnmlei. 
low.. • . . that standard heavy trains have reduces eye fatigue and there k S1.45bn AT and T trails hv orUy tno.pLun. Surrey. 0-i6 634il. 

Most of file components of the to proceed with caution. no need to remove spectacles more than a length at S718m. fnl- \nsiac n ™ n ik ® - 

city bus are going into the rail- More from Leyland Vehicles while viewing. lowed by «E at S463m. with Fort ^ee ■xr'v w r v umm*. 

buses whieh are riius baeked hv on Leyland 21400, at Leyland, At the moment there is very United Technologies. DuPont. U.S., for n er de NflPPflC QPJIT1 

experience -which has gone into Preston PR5 1SN. - l,nle competition in ihe world kjpwvivj ov-uan 

• METALWORKING nf wnrHs m.croasse^lek 

« Welder kent auiet 01 wor(ls ■ ^rsssssrss^ 

|) Aorf 1 4hri4 c ojfn roomed from SX to 100X magnifi- YY ClUCl IkCpL IJUlVl FLAT-BED SCANNING micro- sors is available From SigneUcs lo^mm^ck^d^n 

iiVal U IvMa UD SSliv ' ■ «?>•>“ ,»««* produces a sharp, SOUNDPROOFED down to 85 heavy gauge plate the silencer densitometer equipment with as f, f “nJSSflete cvcl^ dorf was the Mk 111 model of 

. J bright image similar to a back j>,a -«t t metre is a diesel welder also provides a longer life opera- computer control of scanning be used for the complete cyue, company's Overprint 

board faults numeric display and a built-in projected slide viewer, has a with «rnnosed EEC tion compared with conventional movements and digital recording including defining imcroinstru- fLOM^ which is able to 

• isic price of £750. complying with proposed EEL sjlencers . of results is announced by Joyce- tions. writing and assemhlmg i i w mi u ^ ^ ^ 

Industrial markets involving noise legislation introduced by stepless conirol of both volts Loebl. It can 


PRINTED circuit ooara iauiis numeric display uu a uum.-ui projected slide viewer, 
can be diagnosed in the field digital voltmeter. " . basic price of £750. 

with' the- 2225 portable fester A useful ^advantage is that industrial marke 

written for 


mounced by Joyce- tions. writing ana h,„dip oaner loeks and board 

With the- 2225 portable fester A useiui aov Mwyts « Industrial markets involving nn* legisiauou «.uuuu tC u u, stepless control ot com vous Loebl. It can perform line-scans programs and generating paper 5 cm wide and 

introduced by GenRad of Bourne prQg T ams ,-§ r -5 co ^ inspection or assembly work are Pethow of Sandwich, Kent. an fl amps provides an infinitely u p to 250 mm long or two-dimen- tape output for programming, o P in .mlimitiwl 

* oourne pany - s production-based PC expected to account for a high Powered by a Perkins D3-152 variable output suitable for pre- sional raster-scans over any read only memories by burning 

Cl (IQ. - • •• - kn.nl ,n.4n. f (lofiHoH Tflmflunp .! » . .,.1 v .L. 


over 


mm thick 


|<vnvu..yup|/UL«| I.UOU J 

magnetic tape program storage, needed, 
a paper strip printer, alpha- More on 06285 2661L 


program w - — r . — -- — . - 

a pie 0 um chamber. The engine and generator are measurements of 2.5 micro- system accuracy. Si?4 mm “ow te5rJ?”l2to 

laoie tear ■ pravnuM* about 60 instruments per m on in, incorporates a purpose-designed joined by a special Pethow meters. It is written in ANSI Fortran - ■ • - f “ formatlon caT1 be 

ceived over telephone lines. an d Vision Engineering says that diamond-shaped exhaust silencer coupling which ensures correct Outstanding pbotometnc pre- IV and can be run in i any lj _or four stencil 

Connection between board and thi5 can be doubled If necessary fo ^luce both the engine alignment of the two shafts cision-better than 0.5 per cent 32-bit computer a ^th Fortran a 

ster has been amplified— no without investment in new pro- eX h aus t a nd mechanical noises, throughout the life of the throughout a range of optical capability- The can p ug 

... - auction facilities. This i? achieved by the silencer welder; either component can be densities extending from O.to 4D aUo .be > acw«ed I through TsnBe- ™ f the company's 

More from the company at actlng as a sound absorbing dismantled by unskilled person- —is claimed Jor/the new instru- share. GE or NCSS timeshantL, Funner i o^ e J y 

a wa„=“» aagggSg- — - - 


«■■■•: r^,T5> 


a-.!-* M-'-api 

adtr 

U idS ■’ 

;i. ! *:.f 

* .it r-- 

‘ ” r ■- ' 


rged 


' .' 1 
' : .r - •! ►-r's?' 1 ' 


' A ■ ' w ' -■;*>L Jr . 
' ^ 




Touchless access 

THE : LATEST, variant, in door The "key** contain .precision 
access' control, claimed to ' be tuned passive electronic circuits 1 

virtually vandal-proof since it which are energised when pre- rppnrfl P|*C 

has neither card slots nor push sented to the sensoiv'and send tV'VVFi Ui/A»J 

buttons, is a system from back a specific frequency pat- pur ON to the market by EMI 

Schlage Electronics of Cali- tern. .-V... Technology (SE Labs) are four 

fornia^ marketed in the UK by Various levels qf^qpmplexity versions of a six-inch ultra-violet 
Inertial - Systems . of Egham, are offered, from simple 1 single oscillograph design which will 
Surrey. ' door operation with three card cover most applications and start 

Those desiring access simply ■ codes, to a computerised version a t a price of £1,100. 
present . a “Command Key,” able to control 256 ^entrances Two six channel models are 
similar to a credit card, a few with 5,000 different cifrd-. codes, offered, with or without signal 

inches away from a concealed Any attempt to access conditioning, and there are two 

sensor. When the internal through an unspecified. door, or 12 channel types, one uncondi- 

equipm'ent . has ' established at a time or in a diragtion for tioned and the other with six 

validity it -will operate air elec- which the card holdefels not channels of active conditioning 
troriic lock and allow access to authorised produces att«arm on and six channels connected 
a Specified door, turnstile or a system display unit?> directly to the galvanometers, 

barrier. • : : .. ' . • More, on 07M3 4400; * ;The Tange of signal arapltfca- 

— r — i »r - m — . . — t , "V" a-, , - l .tion; or .attenuation employed in 

-• • ’Wi-rT-ttoy Signal conditioning units 


Clutch of 


COMPANY NOTICES 


BANK HANDLOWY W 
WARSZAWIE S Jl 
• SUS 3<u»0,000 . . .. 

FLOATING RATE NOTES 
_ 1976/81 

The Tate of interest applicable 
for the . six m on tfi.' period 
beginning June 12th 1978 and 
ending December J2th 1978 
and set by the reference 
Agent fe 9*J % annually. 


CHILIAN GOVXRMMEMt XONG TERM 
OCTT LAW -tto. S96Z 

CHILEAN .GOVERIJJ'ENT . BONDS 

M95 . •” 


tuna a..r jure- hwb im, - 

dr* »»TniL of . Sa.ndJi tfi tAe noramjl' value Of 
£ 2 . 000 .- - „ 

The dlulnceyB' nifMbcrl o« MW bwids 
drawn la the preaeiKO-of * Notary Fowit 
■rp» 

- Serlai Nviml^r- - - £300 .. . 

- ■ • •- • ■«: • . , ‘ 

Serial Cigo . . 

531 582 • ■SET. WLi IB M 

2851 - J ffij a jggg 4030 4SS0 4743 

the New issue- oeoartment ed MldUnd Bank. 
Limned,- luted -00 t*w APproortaia Jorm aiw 
mast hear alT.tooiKrns suwaouent to 1 July 
•- 1078 otherwise the- amount of the mta- 
Ino. enuoons wJU >*« .deducted irom ttw 
prlnciwl! • mo{ieyf.| ■_ - 


THE CONVER T! BLI BON D FUND N.V. 

M^Tirng IS HPPERV GIVFN thx» »m h eyfi 
decided to discontinue the ortarhio and 
duoi-ibirtton ot- imeudUed quarterly 

annual and soml-aiinual rwwrt* 
and-jnxounB wHI continue to be i»a liable. 
1 .The Board. of Manaoement- 
Curacao- „ 

-12th June, 1B78. — . 


NOTICE IS HEREBY GIVEN that we baje 

"decMed -* to dlicontlnee the printi ng abfi 

<Bstrlbutn>n-of ■unaudtted euartertv reports. 

ssjpssnjat- 

to ^ ntAHriWl. 

iSS'june. 1978. 


wiir 


The-ruauSir-inienal' - of ^ low, . clear daw 
\V requlfed- Tor^astanrinatlon. 


)tesl9 ; -i 


- - Midland.' Bank Limited. 

• iNew:Sssoe Department, 
-Mariner House, 1 

pBig.- Slfetl , . 

, . iLondeyi. EC3N 40 A. < 


MOTORCARS 




^ n ::> 

51 

n Vk ir> 

:r*e f 1 ■*.' j.ir 
-■.v T- 1 -*’ ” 

- ; if! 






^iaSTiaarrarKo 

NOTICE IS HEREBY GIVEN that all 
the outsbndinfi bonds «l the above UAn 
amounting to £1 040 will be retwmmed *1 
jar on I Jul> 1V78 after wWcb dare an 
Interest thereon 1 will rease- Bonds irenM 
lor repayment ol capital must be tlsted ojl 
the (pedal -lorm obtainable lf P n ? ._ Ne * 
issue . Oeoartmenf. and- -Uw usual J^erjaJ 
of tour cleer- airs will ne reouhed lor 
examination. Kind hr ensure tin 1 column* 
numbered ' 179 and TOO are attached 
the’ bonds which should be presented to: 
Midland Bank Limited. 

New issue Department. 

Mariner House. 

Pepys Street. 

, , London. EC3N 4 DA. 


£ - 


-no. fc^ehtoTiKfftat. 006 «t J 0f gal Van 0- 

4 thWbra can be used bver a wide 
range ^ of sensitivity, cutting 
stockingi'v costs and improving 
operational convenience. ' 

Each channel . hgs its own 
sensitivity \controi providing 
trace-, defleclton rates from iO 
mV/cm to lOs. V/cm. Six high 
accuracy chart 'speeds from 0.- 
to 10 mra/sec iro offered, and 
these can be increased by a 
factor of 100 by pufcta button. 
More on 01-890 l«ff. 

i PROCESSES 

(Protective 
coatings 

NEW COATINGS for the latest 
generation of gas turbine 
^engines are available from Coat 
lags. Service Division of Union 
Carbide UlC Designated LCO-17A 
ana JLCO-19A these coatings are 
members- of a family designed to 
resast wear - at elevated tern 
pera tyres in an oxidising en 
vironraent. 

Laboratory tests indicate that 
these two coatings; which are 
cobalt based alloys containing 
d Versed aluminium oxide, will 
Ihe ,used . extensively in ges 
i^irblne engines, in particular to 
minimise, the wear of turbine 
blade shroud faces.. These com- 
ponents operate at high- tem- 
perature and stress levels. 

' Excellent wear resistance in 
Oxidising environments has been 
demonstrated with LCO-17A at 

.temperatures between 870 

c “ d hiEl,er 


THE OTESHAM. STREET 
- DOLLAR FOND N.V 


PERSONAL 


SUPERB ' GI. rtT* AND CRYSTAL for ' ttj 
SU p^»cIor%' Dining Hoa m ■* . "? JJStSnS 

-dbpliv atlbi General TraPI rrp Corrio«JWt 

a hamf-plcico} (election of (I 
best In modem ' ties ion » "fj 1 J*® 

fmert traditional Mlte»- WritB torwr 
mucral catalogue tn JKIG. The faenmy 
¥?Hw.Comp«wr. U* agmSM 
Sloan* -Square. London SW1X BH1 - 


ISfi&s top famera- TW:in-4a5«z» 


PUBLIC • 

notices 


•; ~ KZbSlWGT ON titF ttbtt* 

• VARIAmJ_5*T E ,qaz 

sr ^.ia SSJgiLrfca. 

9th- OecembP, *1875 iW 

-12th: JSw. 1975. • 


GACLERI wl''-The » MjU. jvS.WJj.; 
v», .my . .' D fr? - GSAPHIU .iI’^hTISTS; 
ANNUAL £Xfi mtTKW. M?*t- Frl . .1 0;3. 
5ML 10-1 i'- OnHf.Igtfi JVne- . ■ Adou TOp* 


ingsl “uooi rjp- 

sjo- iUmrp.mifil ?, • ■ 


Bond St.v 
ER^PAmT- 


iN V ’ 

) 

\Vr 

t " 

iV 


DAVID CMBW^ r - 
St*. -■ 


. i o«A . . . 'rLyt.'i- . -"■> 


GOMBmO^ 




mndraww " HOUSE ' 'AWTIQU'Ci 

®kOSVX"W nuy™. -jj-,. s^o-jprfii.-'tB 

-OO^P-O^, A fiZSi *jnday. AdmUston 


C1J0 


CLUBS 


•■■awsJAISaJa&g* r«-ga 


— -r c 




vA. 





^ ^CLASSIFIED 

#AbVERTlSEWl€NT 


y- ■ j. 


Si 


Per 
Ort £ ' 
£ 


fWL 
£ : 


4S9 

2-M 

■450 


M M 
S.W 
IVOO 


Osmorereial* mfloattill 
’RafitoB^Pniwny . . 

CorjwrHi» 

--lfflira. i iT«w«WD 

'.-^Capadtv,' Sustoessa 
-WSaR/vraiBBd 
Bduccion,Mo»ra. 

*- QXMam* Tender*. - 

/.j^oal.GBrteBlMi ^ 

TOisteamtTiavd 2 . 

gyailahlc 

> pmnfani ^T<?Tnl mr a cml) 

- ^ 

• grAr‘ tttrOKT d? tna * ttrtW W- 
"^QasriSTAdvertiseinent 
• r. manager* 

Financial Times,_ 
-.•••'life Cannon "Street, -. 


sjs- 


1 8.00 
jam 

T.OO 


1,000 degrees C and with 
LCO-19A from 650. degrees C to 
980. degrees C. 

.'■‘Both these coatings are 
applied by the Union Carbide 
development— the. .. detonation 
gun.’ . This fires the powdered 
mating materials at such high 

speed' - and temperature that 
coating is evenly distributed and 
^integrally bonded to the base 

jfraterial. 

. More on Swindon (0793) 29241. 


GRAPHICS 



drawing 


tN ONE second, a graphics 
terminal based on an ultra-high 
speed . 'printer can produce a 
drawing 3.3 inches high by 9 
inches long. Such a piece of 
-Work would contain about 150,000 
dots. 

'OTbe' SCI . printer operates at 
2,200 characters per second, using 
a revolving print head containing 
three- matrix brushes each of five 
'wires. The graphics unit is 
similar except that the brushes 
have seven instead of five wires, 
■i'iiis 'means an improvement in 
resolution. The dots are’ spaced 
70 to.the inch horizontally and 72 
vertically. 

. - jExperi m entally, th is printer 
-has-been used by ITT to produce 
high Quality pictures from View- 
data receivers appropriately 
nKKh.fled- 

Jitore details from Peripheral 
Hardware, Link House, Pool 
Close, West . Moleslevv JSurrey 

kT8 T 0HW,’Ml4S0A. : ; 




The Berlitz method 
still as ea 
you use 

You may not remember the first 
time you learned a language. 

After all you were young at the 
time and lessons from mother were 
more like play than work. 

But you did use a method and a 
most effective one. 

Nature’s method. No records, no 
headphones, no gimmicks. 

One hundred years ago, 

Maximilian D. Berlitz observed 

E eople struggling through grammar 
ooks trying to learn a foreign 
language -and realized how much 
better they had done just listening to 
mother: 

He studied nature’s methods, 
refined them and turned them into 
a system. 

The Berlitz method has been 
the most successful language tuition 
system in the world ever since. 

Business executives who come 
to Berlitz are taught person to person 
by people whose native language is 
used-who take on the function of the 
mother in childhood. 

No other language is used. 

No mental translation slows 
down the process of learning. 

From the first word you begin 
to think in the new language. 

As international trade has devel- 
oped, so has the Berlitz method and 
the scope of its services.Translation 


services have been introduced as an 
aid to business, multi-media teaching 
methods have been developed and 
‘Total Immersion’® techniques devised 
to speed up the learning process. 

But at Berlitz the basic, face to 
face, person to person method has 
not changed in the hundred years of 
its existence. Because it works! 

If your business career could 
profit from our experience ring 
one of the numbers below for full 
information. 

We’ll prove it can work for you 
as it has for every child since the 
world began. 


BERLITZ 


Teaching the world to speak. 

LONDON 01-486 1931 CROYDON 01-6S6 2E62 MANCHESTER 061-2 28 3607 
BIRMINGHAM 021-643 4334 LEEDS 0532 35536/7 EDINBURGH 03i-i26 2fa77 


- V- ‘ 








d Kvd bglneering 


£9|m awards to Wimpey 



DURING THE past six weeks, 

Holland, Hannen and Cubitts 
has won contracts to a total 
value of £17m, additional to 
the £10ra announced at the 
start of that period. 

Of the total. £7»m of the 
work Is in Scotland where the 
largest contract of Che lot has 
been awarded. This is a £4.1rn 
prestige office block job. for 
Crx (Properties), the company 
which handles investments for 
the miners’ pension fund, work* 
ing in this instance in partner* 
ship with Glasgow City Coun- 
cil. 

Elsewhere in the Glasgow 
area, at Cathcart. a two-storey 
computer building costing 
£2tm is to be erected for the 
South of Scotland Electricity 
Board. And under a third 
Scottish contract, just under 
£lm worth of bouses (73 units) 


are to he built at Uddingston 
for Hamilton District Council. 

In England, the largest of the 
recent awards appears to be one 
worth around £2jm for the con- 
struction of an administrative 
centre at British Leyland's 
Chorley Parts Division and there 
is a second large motor industry 
contract worth £2ra with Ford 
for a series of jobs at Hatewood. 
These include £1.3m-wortfi of 
work on extensions to the trans- 
mission planr. 

Another £-$m award covers 
work on three listed buildings 
ar Lancaster Gare, London, to 
transform them into Dais but 
with the amenities of a restau- 
rant, medical centre and swim- 
ming pool. This refurbishment 
contract has beetj placed by the 
Rum Corporation and a Saudi 
Arabian architect — A. Al-Saved — 
has been appointed, working with 


quantity surveyors Edmond Ship- 
way and Partners. 

Bank of Abu Dhabi has let a 
£600,000 contract for work at its 
premises in Albert Gate, London, 
built by Thomas Cubitt, founder 
of the building company, some 
120 years ago. 

Another banking contract is 
front -the Commonwealth Trading 
Bank of Australia and the work 
to be carried out at the premises 
is valued at £360.000. 

A housing project at Yate, 
Bristol, calls for the construction 
of 65 dwellings for Northavon 
District Council at a cost of 
£720.000. In Lancashire, a sports 
hall and a practice hall are to 
be erected for the extension of 
the Darwen Leisure Centre at a 
cost of £420,000. At Preston. 
£370.000 is to be spent on a 
kitchen and dining area exten- 
sion for the Tuson College. 


McAipine’s 
blitter plant 


WORTH ALMOST £4Jm. an 
award has gone to Sir Robert 
McAjpine and Sons from Empire 
Dairies for the construction at 
Swindon, Wilts, of a large 
butter packing plant. 

Six separate buildings will go 
to form the complex on an area 
of 47.000 square metres, the site 
being close to the H 4 motorway 
at Blag rove Farm. 

The first operation, excavation 
of 75,060 cubic metres of spoil to 
a depth of four metres, begins 
immediately. 

Completion will take place In 
two phases, the first aimed ar 
July next year and the second 
for some three months later. 

Architects and quantity sur- 
veyors are the Wyvern Partner- 
ship of Swindon. 


A MAJOR CONTRACT In a total 
of £9.5m recently ‘ awarded to 
George Wimpey is a £4.5m 
petroleum development camp in 
Oman. The company will con- 
struct a self-contained camp at 
Marmul in the Sultanate of 
Oman for Petroleum Develop- 
ment. Situated in the centre of 
the oilfields the project com- 
prises housing units, central 
mess facilities, laundry, bakery 
and kitchens and will house 
company employees and their 
contractors. Also provided will 
be recreational facilities and all 
ancillary services. 

Out of four contracts totalling 
in excess of £4m won by the 
Toronto office one for £3m for 
the Ontario Ministry of Trans- 
portation and Communications Is 
for the construction of a four- 


lene wide, seven miles long 
extension of Ihe- Don Valley 
Parkway north- of Toronto* 
Another contra ct cfor the affair 
by- is for a part- of Highway 402 
(Wyoming to SarinaV. Remain-, 
ing contracts in Canada 'cover 
waterworks, sanitary and storm; 
sewage at Wes flock, Alberta, and 
underground water storage : at 

Whitby, Ontario. - " / V* 

The Irvine Development 
Corporation has awarded: a con- 
tract in excess, of £lc* to the 
company's Glasgow regional 
office tor the construction of 86- 
honses in "Wimpey.-. No-Fines 
technique." This j project com- 
prises 18 single-storey, - 58 two- 
storey and 10 three-storey 
houses. Also included in the" 
job are sewers, roads, . parking, 
areas, footpaths, drainage. £piL 
general site works. 



Housing in 

South-East 


Ecmdon 


■tlNDER a- *3% 

LainW is to start. "soda on & nB * v 

fcJSiiS&tate to ‘Marvels L ^ e - 
Oros& 'TPark, SE12. . 

:»sass!ffi &3 

twdS'T thtee^edrpom^ - hou ^f 

raSaHy designed tor- 

disabled. -k- 

r /.JTwp access r°ads u» to ^ 
constructed frtmr ". ne^F 
oad and part 

■has - been allocated : tor future 
^eyelopment by the \ 

,-pnw d de a eo mm unity cep tire ana 
r Children's home. 


These* - protective. 1ay**fc^\a» 
pninm'-fe^wr 

added ’to provide a further hood 

tfcp base coat 

apcfti^cOlhared 
" The^Tiew'' P rodtrctioa'^racSities 
■wjll '- en»hfe~ Yarracoarito -jemide ; 
in sheets of ^greater wiriite thait 
Galbestos —/SM 'nnp: • 
730 nint 




French Kier The answer is in the sun Mowlem & 


gets by-pass 
award 


ESSEX County Council has 
awarded a contract for £1.9m to 
French Kier Construction, a 
member of the French Kier 
Group, for the construction of a 
by-pass at Great Du moo w. 

Designed to relieve the centre 
of the town of east-west A120 
traffic by a new route along the 
old railway line south of Dunnaow 
there will also be a roundabout 
to provide a connection to the 
A130 to the south. 


The work consists of about 

4.9 kilometres of single 7.3 metre 
carriageway in flexible construc- 
tion together with street lighting 
and accommodation works. This 
will require excavation of around 

100.009 cubic metres of material 


Structures will consist of one 
reinforced concrete road hridge, 
a reinforced concrete footbridge. 
490 metres of reinforced concrete 
retaining wall, a river bridge 
with prestressed concrete deck 
beams and reinforced concrete 
substructure, and one precast 
concrete culvert. 


MANY MOVES are being made 

ro demonstrate that solar energy 
use is practicable for the average 
household. The latest, and pos- 
sibly the most important one to 
date is that just announced by 
John Lain? Research and 
Development and the Calor 
Group to lest various solar 
energy heating systems in a num- 
ber of new houses. 

Site of the project is at Great 
Linford. "Mi lion Keynes, where 
nine houses will be built, three 
of them to be monitored as con- 
trols. 

Construction starts this sum- 
mer and six houses will have 
radiant and warm air systems 
and the instrumentation needed 
to provide exhaustive data on 
the results. All the dwellings 
w ill be insulated to a much 
higher standard than at present 
required by building regulations. 

Calor Research Group, which 
to dale has been very reticent 
about the solar project it has 
been conducting at Fulmer Re- 
search Laboratories these last two 
years, will incorporate some of 
the tried and proven technical 
advances from the experimental 
house there in the systems to go 
into Great Linford. 

It has worked on all types of 


solar energy use for space and 
domestic hot water heating, with 
support from the Department of 
Energy. At the same time. John 
Laing Research has been carry- 
ing out an extended study of the 
solar panels on offer, covering 
both domestically-built and im- 
ported types. 

The latter company will pro- 
vide project management and 
contracting services for the pro- 
ject. as well as installing the 
solar heating systems themselves. 

Completed houses at Great 
Linford will he sold in the spring 
of 1979. Monitoring results will 
be available by the end of the 
following year. This feedback 
should provide important infer 
mation for the development of 
energy-saving domestic systems 
and give householders the con- 
fidence to spend what is required 
to install well-designed solar 
systems in their homes. 


Dimsdale 


share £ 4 |m 



The Belcon service to industry offers the design, manufacture 
and erection of precast concrete, structural steel or composite 
frames in Single, Double and Three storey construction. 
Brochures and details of the Belcon service fram:- 
Bell & Webster Limited, (Concrete Division) Belcon House, 
Essex Rd, Hoddesdon, Herts. EN11 0DR. Tel 67M1. Telex 24142. 
Bell & Webster (Steel Str u ctures) limited, 

Salthouse Rd, Bradkmills lad Este, Northampton NN4 OBD. 
Tel 0604 65211. Telex 311264. 


an Eleco Holdings Company 


In the meantime, the Copper 
Development Association, which 
has for several years provided a 
major stimulus to firms who ore 
seeking to develop solar heating 
for domestic applications, is 
organising a conference on the 
practical aspects of solar heating. 
It will take place on September 5 
during the September 4-15 exhibi- 
tion of solar beating equipment 
and ancillary service’s at the 
Building Centre, Manchester, to 
which universities and colleges 
involved in this area of develop- 
ment have been invited to send 
displays of their work. 

CDA is naturally interested to 
see the red metal play a role in 
solar heating panels and circuits 
which would be directly and 
immediately compatible with 
standard heating and water 
circuits in most homes. 

More from Copper Develop- 
ment Association, Orchard 
House. Mutton Lane, Potters Bar. 
Herts. EN0 3AP. Potters Bar 
50711. 


IN WILLOUGHBY LANE, 
Tottenham, London. N17. a 
factory and warehouse space of 
over 172.000 sq ft are l° be 
built Hollowing a partnership 
between John Mowlem arid 
Dimsdale Developments i South 
East) who will constrict the 
building under a £4Jm contract. 

The project will start nn 
September 1 and the first units, 
from 5.000 sq ft upwards, will 
be completed towards the end 
of next year. 

The development, situated 
within one mile of the North 
Circular Rnad. will be carried 
out in an established industrial 
area with good rail communica- 
tions and a large labour pnol. 
Boch Angel Road and North- 
umberland Part Railway 
stations are within easy walk- 
ing distance. 


- . i: • ■ • • 

FIVE CONTRACTS worth almost rton, Glasgow . • -• 

£.7.4 m. hare been recently Mutual Insurance; the first, pl^/rKpTTP I* W all 
warded .0 H^nrr Boot Con*™ 

non, the largest, at being Sa i ford> f^- the North West6rp oV|/| f AAT > 

for the construction of 157 dwel- Regional Health Authority .wilT «Xt!X X WA- 
lings on the Ingol housing cost £420,000 and the other johsu: 
development near Fulwood for are fbnr warehouses in -.Birnllng^'jrVj.ir^ 
the Central Lancashire Develop- bam for Slough Estates fcylt I 

ment Corporation. and Construction and - . 

The company will build 14 buildings on the OrdsaU KIndiltf-^ABOUT £3m is to s Pzr=rr^:n 
warehouse units for £670,000 on trial Estate, Salford, part of *Sfl- th* : n«itt year or WWT' J-jfcJJ- 
the A8 Trading Estate at Bailie- ford’s Inner-City. Project,, r . v-.c^Soh6rtson, 

- - - WiriiL Cheshire. o*v iyaxre.ro 

Taylor Woodrow-£ 5 m , 

THE FIRST stage of a compre- £5m awarded to' Taylor 

hensive development at Chelten- row. - - V«3»or and"has a, thirfc>pOxy 

ham Racecourse ithe headquar- T s*«!fLn i i?n^'f±fiSrmbsetting resin) base coat 

ter s of National Hunt Racing) to? 1 Staffordshire, where a t- V' R # , * rtson 53X5 P re 3j oa? — 
calls for the construction of a ^ 0 f £2.7m ^ a three-storey. epoxy for primercoate in 

of ' 7^n fer o nls'^ha d tg- 


store , ;K 
completed 


ONE OF the' biggesj cold storaga 
chambers in Enrope has' Just 
been completed close^torDc^oiii 
He athrow airport. -■=• • 

It has been buHf at ^ eqrt. of 
£2Jm by Smith and3arthETaioT 
Anglia Lockwood Holdings and 
has -a capacity of 2 £m- cubic- gert. - 


Designed to serve the. whole'bf 
the UR it wiT 


ws wiD store up^th .29^000 
toils' of meat, dairy p rcKfaKrts- anil 
vegetables. ’ - T : V -. J — 'T*'. ^ 


Middle East 


£1.4m members’ „ „ . 

scheduled for completion in Feb- Street • - r. eyttage r . . 

ruary. 1979. This will include pri- The third contract is for hofe- to 

vate boxes, covered seating and ing development in the Mancbea-rr^HS? 8 ': '^Tnrnritinf 

sranding and all other modem ter area for the Northern 

amenities for racegoers. This is ties (Cromford) Housmg,^ e :P ro ?*?® I ]*[] uc ^ 5176 “ e 1,311 - 
among three contracts totalling Society. . rigidity 

.-The company 


now has . a 


Sewage 

treatment 


-ohenucal additive which it claims 
tures such as shear walte._ the epoxy to remain 

Stress, deformation, and inter- enough to allow a coat- 

nal forces in . beams. jiolumnsf- of about f en times the thick- 
slabs, frames and footings *«(| ^ egs 0 f an ordinary primer- to 
be qmcWy determined- ■ - .> 7 b e U sed without risk of cracking. 

00 Versacor. which is "described 

Water at 39 Gordon Square, London, aB ^ adJunct t o rather than a 

replacement for Galbestos, is 


Accepts 


screws 


easily 


THE NORTH East 
Authority has awarded Taylor WCIH OPD. 

Woodrow Construction 
INDrthern) a £1.06m contract 
for the construction of a pump- 
ing station and sewage treat- 
ment works at Millora. Cumbria. 

The project includes a 22 
metre diameter by 9-3 metres 

deep pumping station, rising A BEDDING compound whlefr 
mam. inlet works, settling tanks hardens m ig hours, shruge off 


Kerbs laid 
cheaply 


Jiased on a steel core - and has 
a~ hot-dipped zinc coating-. After 
it has been degreased the zinc 
surface Is coated with the epoxy. 


progress 

FINAL TOUCHES have.-'- jijst 
been applied to- a 32 storey 
building core which, has hcen 
cast in . 28" days to Dubai— -an. 
".ibdlcation, says. resident 
engineer, Mr- John Castrl of 
Conseco International (overseas 
ariii of Pell Frischinann'". aifll . 
Partners) * that building- • twA- " 
oiques in the Middle East *re 
fast , becoming more. . sophistl- 
dated. "' 

The £ilm building has been 1 ■ 
designed for Sheikh Ifansoo r Bin 
Ahmed A1 Than! and contains 
shops and offices up to the fourto'.- 
floor, air conditioning , and- . 
-services on the fifth floor, and " 
120 Rats in the 18 storeys above. 


: 


IN BRIEF 


-A 


AVAILABLE In natural, dart 
oak. teak, mahogany, or walnut 
is a plastic “ wood ” from Turn- 
bridges. London, S.W.I7. which, 
the company says, will take 
screws as readily as real wood. 

Because cracks in floorboards 
are a cnnmoQ area for unneces- 
sary draughts, its Joy Plastic 
Wood should be used- to - ombat 
these defects by filling in 
straight from the tube or tin. 
Painting, with its Joy Floor 
Stain, which dries quickly giving 


,nd "orfcs pumping ,«rt6n eTc. apmTSrlm'i c"„ndm™ “ia ”5 Se^ruls'® Water 
Work has started and should be t0 develop greater strength" etom has been awarded a 
completed in 21 months. Jan j concrete, has been rntrp- contract to supply and 

duced by Protective Matefi als- s ta 1 1 a zinc, phosphate effluent 

Chessmgton. ^ j'. treatment plant at the Ford 

Suggested as ac rast-sa^rin Motor Company Escort car 

j-.^ES^^assembly plant at Halewooi 
Bedding Mortar, is also tatetide€NTj v ro0 n I 

*»-■« j“ VP*. jSS Lesaer Bolldlng System. 

M precast h»« won 9 £350,000 


Speeds up 
design 


member of Conditioning has won a £173,000 
contract from South Korean 
Contractor, Hyun-Dai Construe- 
tion, for supplying air handling 
equipment for buildings in .the 
new port of JubaU, Saudi Ar^ihu 


machinery, bonding r^wTnni-n ha* won a 

. C from CDCP Construe- 


nd Development Corpora- 
the Philippines for the 
of its Supacom accom- 


a high gloss nen««crar'rh sur- 
'3tli 


Anything you want built,! 
anywhere in Scotland 
contact 

Gilbert Ash 

Pegasus House. 


face, can then follow the filling 
operation. / 

The company advises a build 
up of fbe plastic wood, using a 
layer at a time, when working 
with deep areas, and ;he product 
is also suggested for parquet 
floors which can be prone to 
chipping. Colours are available 
in tubes only. 

More on 01-672 P5SI. 


MORE THAN 30 computer pro- crane rails, and as a general 
grains written in the U.S. to industrial grout. r “ on 

handle the analysis, design and The three - part- •mrterla)^ : ®? n 
management fanettons of a base rosiii. baWei^hacd ffllef^V^PPj 5 -, 
modern structural engineering i S mixed eitherimechanically ir “ Gd l 5 t,on units m Meccai Saudl 
practice are available to a pro- by hand when used for fixing Arabia. 

gram library called “Systems kerb stones. Laid as an inch • Vercon of Chertsey, Surrey, 

Professional," available through wide strip, the kerbs, are then J 8 ® w on.contracts worth £300.000 

London United Computing Ser* placed into position upon it and. * or suspended ceiling materials, 

rices. in contrast to conventional con- Material £re being supplied for 

Included are several programs crete, there is no need to cut Tripoli west power station, 
which can be used to design back the surface or haunch up Libya, for a textile mill m 
many common types of steel, the sides. The mortar does not Bolivia, an aluminium smelter 
masonry, concrete and timber shrink on curing and is said to in Dubai and for The British 
structures and others that will be impervious to water and frost Bank of the Middle EasL Doha, 
analyse more complex struc- damage. # Ventilation Equipment and 


• The Court of the University-: 
of Edinburgh has awarded la- 
contract worth over £im to 
Gilbert Ash Scotland for work 
to be carried out on the former 
George Watson's Ladies College 
in George Square. Edinburgh. ■ 

0 West’s Piling and Construc- 
tion of Colnbrook, Slough, has 
received a £|m subcontract for 
the design and construction ;of 
piled foundations at an advanced 
civil engineering contract. Area 
8. of the Greater London Com* 
cil’s Tbamesmead project. - . 

9 Tesco Stores has awarded a 
contract worth around £300,000 
to Certain Construction for the • 
building of a warehouse at Wins- 
ford Industrial Estate. Cheshire. 


West George Slrret.Glasgow 

041-248 2511 




V **£**z^i*M . ' ■ ,,ju ,.~ 






.>•' : ' • -tf-M. '* • - • T- ■ ;• ", -S'?- *■; •*'■?+ 

, .. i • aJ. ett i . 


m?' 






-J M i.V • "?% '• W 





v -i" 




The sinews of industry 


ldustry needs its buildings quickly and 
heaply. It also wants them maintenance 
■ee and fire resistant . Crendon structures 
ffer all this and more. They are engin- 
ered to be adaptable and capable -of 
Imost any elevational treatment. This 
/ay Crendon structures fit the architects 
Ians as well as the customers needs for 
ictories, warehouses and offices. The 
Irendon 4° frame for example, a thor- 


oughly flexible system allowing almost 
any combination of span sizes and roof 
levels to be achieved in a single structure. 
An important consideration where, as is 
frequently the case, factory or warehouse 
and say a two storey office block are to 
be combined. Our technical leaflet ex- 
plains some of the structural variations 
and the design freedom which the Cren- 
don system can always provide. 


TENDON CONCRETE CO. LTD 

ame Rd, Long Crendon, Aylesbury, Bucks. HP18 9BB Tel: Long Crendon 208481 
IRTHERN Rawclrffe Rd., Goole, N. Humberside. Tel: Goole 4201. 
lOTLAND Shotts. Lanarkshire ML7 5 BP. Tel: Shotts 20261. 



CONTRACTS AND TENDERS 


INTERNATIONAL TENDER 
FOR THE PURCHASE OF ROAD CONSTRUCTION 
AND IVLAINTENANCE EQUIPMENT AND TOOLS 
Invitation No. T18/70 


The Provisional Militajy Government of Socialist Ethiopia, 
Ethiopian Roads Authority, announces the release of an 
international tender for the purchase of road construction and 
maintenance equipmentand shop tools. 

The Procurement of the equipment will be financed by IBRD 
and interested bidders from member countries of the World 
Bank and Switzerland are requested to collect bid schedules 
and speciScatJons during office hours from the Procurernentr 
Office. Room 106, of the Ethiopian Roads Authority against 
payment of Birr 10.00 for each set of documents 

Bids will be opened in public in the Conference Room. 4th 
Floor, of the Ethiopian Roads Authority headquarters build- 
ing on Tuesday. July 25,' 1978, at 10.00 hours Addis Ababa 
time. 


The Authority reserves the right to reject any or all bids that 
are not in conformity with all conditions and specifications 
mentioned in the tender.' : 

. ETHIOPIAN ROADS AUTHORITY 


NOTICE INVITING TENDERS 
FOR MOBILE CLINICS 


Sealed Tenders on prescribed forms are invited, from reputed 
UK firms of established financial standing, up to 3 p.m. on 
7th August. 1973, for supply of 318 mobile clinics fully fitted with 
medical accoutrements. All supplies should be of British origin 
only. 

Tender forms are available frem the undermentioned office on any 
working day on payment of £5 (n on-refundable) against a crossed 
bank draft/Ponal Order payable to High Commission of India, 
London, 

Director General ? 

Supply Wing ! 

High Commission of India i 
Aldwych. London WC2 ! 

Telephone: 01-836 0484/329? A 332 


TURKISH STATE RAILWAYS (TCDD) 

The Chairmanship of Central 
Purchasing and Sales Commission 
Ankara-Gar /TURKEY 

Tenders are invited Mr One Rail Defect Detecting Car of 
which the technical features are written in the specifications. 
1. The above material Is to be purchased through bids 
received from countries who are members of the World 
Bank of Switzerland- ■ 

The bidding documents prepared for this purpose Jn 
Turkish and English can be purchased from TCDD s 

, J n—. < tit Antrim Dttrl CirL-Opi Z 1 0.jh OIHab ill 


2. 


3. 


Central Cash Office in Ankara aod Sirfceci Cash Offioe to 
Istanbul at a price of TL200. — . 

The bids shall be received by or handed in person to our 
commission not later than Monday. July. 31, 1978 for a 
meeting at TCDD Supply Department oh that date. 


INDEGO LIMITED 


LUSAKA, ZAMBIA 

NPK raw materials tender for 


Nitrogen Chemicals of Zambia 
expansion project 

Tenders are Invited for the 
supply, "of NPK raw materials 
for NCZ expansion project. 
Documents are now available on 
a payment of non refundable 
fee of £100 per document. 
From: 


1. 


The General Manager. 
Nitrogen Chemicals of 
Zambia Limited, 

P.O. Box 226, 

Kafue, Zambia 
The Controller of Group 
Management Services 
Division, 

Indcco House, 

Cairo Road. 

P.O. Box 1935. 

Lusaka, Zambia 
Zimco Services Limited, 
Zimco House. 

129-139 Finsbury Pavement. 
London EC2A IN A. 

Closing date of this tender is 
6th J iriy. 1978. 


3. 


NB. Those who purchased 
these tender documents for 
tender chat closed on 31st 
March. 1978 will receive free 
copies of these documents on 
production of their receipts of 
previous purchases. 

INDECO MEANS BUS1NE5S 


CONTRACTS 
AND TENDERS 


Rate £13.00 per 
single column 
centimetre 


For further details contact; 

FRANCIS PHILLIPS 
on 01-248 8000 Ext 456 


NOTICE OF INTENT TO SOLICIT 
WORLDWIDE COMPETITIVE TENDERS 


NATIONAL DEVELOPMENT 
CORPORATION 


OAR ES SALAAM, TANZANIA 


INTEGRATED PULP AND 
PAPER MILL 

• MUF1NDI, TANZANIA 


Supply if materials and enaipmeiit 


5 ? V0 !? p ? 0rrt Coronation {NDQ, an erterprlsinjrgaiHsed 
Tan ? an fe£ v ' riB build an irtegratedStoaSI 
Tanza ™ a - tha mm wiH produce kraft and 
gpundwod pulp horn ptne, watte and eucalyptus for conversion to 
S^WOmetretorapera^rnol industrial and cultural papers on -two 
paper mac hines. The complex wfli also include chemical recovery, power'' 
wBtW'suppty, atfluena treatment and the requ 1 rMsilte»riTOEa[ - 
1982 / 1983 - Project organisation has 

S,a,ens Skoflsin&jgtrfer (ASST) 
as general advisors, and Sandweil and Company as propel managers. ■ 

NDCh^appRedlotfw WorfoBanlciSlDA, KFWandiheKliWjril.piindfor 


■* * purchased from afepfen; through 
'r^ *?* *'*"**- NDC J** 11 prequafify prospective suppUers 
proven ability to perform, arid their financial 

wperienee and capabuty from those 


7 - j 

tt the krtention to" purchase by international enmnritith** NACm 


department. Bsta of 

of standard efoctricaf components, standard nrocaitx mnirnT- 

puremsad ontfBSbasIs are tentas^eiy as follows: 

— ; wood preparation plant 

— batch digester plant 

= ■ 
paper finishing plant 

“ £^ijy j0r B ' !a P 0,B k*’ Ptant and recovery boiler 

— caustieising plant 

— power boHer plant 

— krtogenerator plant 


“- 0 P d tre^nerd , . .. 

5* aS8 : 9^ tw ? to ^ omergerRy power plant 
— bleach chemkal preparation plants 

from Me dWBj of pubRcaaon of 

- WSfc SB3333SS3BS! 


WtSi copies to: 

S^SEST* *■" «°K) Umited, 

5 JEcdeston Street, . • 

London, SW 1 W 9 LY, 


the" 


oftr 

capa 

coid 






- - v- "7;.. r V v.;; 













fJfJI tj 9 < 





3T*1 






•' •;> - :•":!' "• 'r 




Js: 







-«J 


■'M, 




m 








■ iiijJj!J^i»' » iii. | ^ »i . 1 ) *m 



■Ml 
■ 

' )■!&, 

\&. i $M 

-^'Swr-. 

■ . + •*&&■■••■■**:- .■/* “ : scwl 
V 'Vf* *3 t -A. v*. a « 

%lP 


• ?' J »T'-;r -fT 


>■3.? 1 


r&i 






v>. 








i 


i 


i 


i 


specialist truck builder: And we have a world-wide reputation fir producing 
lie vetf -best commeraal vehicles. 

g|$p ' Xast year alone, we built over 30,000 trucks, buses and tractors. And we exported over halt ot them. 

{You probably know us better as Leyland Truck & Bus. But now we re called Leyland Vehicles. 
^S^ ^re^vesdng over^BOm in new research, development and manufacturing facilities. 

nianning a completely new range :■■?■ 


so the hiost efficient in Britain. 

fsdonel 
ever. 


' rf®. • 

■««? 



5 " 


. .tV,A*4> ■*. . •' : 



® -a-s® sspsiwi a 









s 


;. ; . . - . - v... -.“■•i r -a '.*■ >• 

Facial Times Monday Jane ^8%;;, i ; ' 


The Executive’s and Office V 



The recent Government White Paper on industrial democracy looked favourably on the flexible two-tier boards which ~r~~ 
companies. Hilary Barnes, in Copenhagen, explains how the system works and how employee dkectorslhave fared on them 

;*VV T -.‘ 

Something flexible in the 


in pana|b j 




boardroom state of Denmark 


IF BRITISH companies we con- 
cerned at the prospect of two- 
tier boards they could do well 
to look to Denmark where they 
have long been part of the 
Danish tradition In fact they 
appear to run so smoothly and 
are so well established that 
businessmen are somewhat sur- 
prised if asked bow well they 
think the system works. 

Two tier boards were em- 
bodied in Denmark's first Com- 
panies Act in 1917 and there 
was no thought of altering the 
system when the Act was re- 
vised in 1930 and again in 1973, 
Its advantage over the UK sys- 
tem. according to Ministry of 
Commerce officials here, is that 
it is regulated by statute while 
at the same time retaining the 
advantage of very considerable 
flexibility. 


The division of functions 
between the two boards is only 
loosely defined and therefore 
varies widely in practice. This 
is the major difference between 
Danish and German law. In 
Germany there is a rigid divi- 
sion of functions between the 
supervisory and management 
Boards, and there is no over- 
lapping membership. The 
German management board 
alone can bind the company in 
contracts with third parties and 
is also entirely responsible for 


ment shall be responsible for 
the management of the com- 
pany. 

“ The management shall be In 
charge of the current manage- 
ment of the company and shall 
in this connection observe the 
instructions and orders issued 
by the board oE directors. The 
current management shall not 
include such transactions as are, 
in relation to the general cir- 
cumstances of the company, of 
an unusual class or importance. 
Such transactions shall not be 


In practice the system func- 
tions very much like the unitary 
board system of the UK. The 
company is run by the board of 
management, which at intervals 
must take major matters to the 
directors for approval. This is 
much the same as the relation- 
ship between the executive 
directors of a UK company and 
the full board. Mr. Steen Lange- 
baek, managing director of 
Sophus Berendsen and a mem- 
ber of the board of Rentokil, 
and who therefore has expert- 



Legal rights 


Under Danish law companies 
with share capital of over 
400.000 kroner (£40,000) must 
have a board of directors, elec- 
ted by the shareholders, and a 
management board, appointed, 
by the directors. For companies 
with a smaller share capital 
the two-tier board is optional, 
but it has to be introduced 
whenever employees wish to 
exercise their right to elect 
representatives to the board of 
directors — a right which exists 
in all companies with 50 or 
more employees. And it applies 
both to joint stock companies 
and to private companies 
(Anpartsselskaber, similar to 
the GmbH). 

There is no rigid division of 
function or personnel between 
the directors and management 
board. But the majority of the 
board of directors must consist 
of those who are not on the 
board of management. The 
chairman of the directors can- 
not also be a member of the 
board of management, although 
this does not mean he cannot 
be a working chairman. 
Management board members 
have the right to attend and 
address meetings of the board 
of directors. 



Pout Svanholm, managing director 
of United Breweries, but not a 
member of the Board. 


Steen Langebaek, managing direc- 
tor of Sophus Berendsen and a 
member of the Rentokil board. 


Jan Bonde Nielsen, majority 
shareholder and managing 
director of Burmcister and Wain. 


the day-to-day running of the 
company. The supervisory 
board’s role is as its name 
suggests, to supervise and 
control. 

The Danish board of directors 
also has a supervisory and over- 
seeing function, while the man- 
agement board is responsible 
for day-to-day operations, but 
members of both boards can 
bind the company vis-5-vis third 
parties. 

The division of functions be- 
tween the two boards is laid 
down in the Companies Act as 
follows: 

" The board of directors shall 
supervise the management of 
the company’s affairs and shall 
secure a warrantable organis- 
ation pf the company’s activi- 
ties. Where a board of 
management is appointed, the 
board of directors and manage- 


effected by management unless 
the board of directors shall have 
issued special authorisation, ex- 
cept in cases where the decision 
to be made by the board of 
directors can not be awaited 
without essential inconvenience 
to the company's activities." 

According to the leading 
expert on company. Jaw, Profes- 
sor Bernhard Gomard, the 
internal division of powers 
between the board of directors 
and management also depends 
on the circumstances of the 
particular company, its line of 
business, its size and its tradi- 
tion of management 

Relations between the two 
boards will la many cases be 
further' defined either in the 
company's articles or in the 
rules of procedure which a 
board of directors is bound by 
law to establish. 


ence of both systems explains: 
“There are differences in the 
systems, but they are not as 
significant as one might think." 

He thought that the Danish 
system had some slight advan- 
tages over that of the UK. It 
was probably a good thing that 
on major policy matters the 
management had to discuss mat- 
ters with the board of directors; 
shareholders appreciate the 
safeguard that the managing 
director alone cannot change 
company policy. 

It was also possible that in 
cases of conflict the Danish 
board of directors would find it 
easier to dismiss a manager 
who was a board appointee and 
not directiy responsible to the 
shareholders. 

These comments do not apply 
where the managing director is 


also the owner, which is fre- 
quently the case in smaller 
firms. In this case, the func- 
tions of the board of directors 
will often be nominal. 

This situation can of course 
also arise in large companies. 
In the Burmeister and Wain 
shipbuilding and engineering 
group, Mr. Jan Bonde Nielsen 
is the majority shareholder and 
managing director. He resigned 
the post of chairman in order 
to be able to function as manag- 
ing director. 

Conflicts 

He is a member of both the 
board of management and board 
of directors, but overlapping 
membership is by no means 
always the case. Poul Svanholm, 
managing director of united 
breweries fCarlsberg, Tuborg) 
is not a member of the board 
of directors, for example. A 
1973 survey indicated that in 
larger firms only about a third 
of the general managers were 
also members of the board of 
directors. In smaller firms the 
overlap is greater because the 
company's owner or majority 
shareholder will naturally have 
a place on both boards. 

Conflicts between the manage- 
ment board and board of direc- 
tors arise from time to time, 
but the resolution of conflicts 
is no more difficult than under 
a unitary system. In the final 
analysis the board of directors 
will always win. In a recent 
case, for example, the board 
of Magasin du Nord, the Copen- 
hagen store, sacked the manag- 
ing director and a second mem- 
ber of the management board 
after disagreements over com- 
pany policy. 



-.71 






rouse so little 







DENMARK'S TWO-TIER system;^ , duly ejected to . the hoard 
simplified the Introduction ^ by' the shareholders. “If tie 
workers on to company Boards, ^employees are to • be fully 

through a reform- introdueed-Tepreseated the .white-collar 


system -worJeS'.well. ’ 

■ ■ *• '• ---• -T. • 


L 1974. Generally, it seems Lid^Mr. 1 F. :Bnnek- 


JU WIT. - -n jj Mj 

have worked to everyone’s satis- director 
faction, although qualified - 

desire ^.ratfoimder 

■reaching reforms SvEiiplojees in «£«* 

S ■ V companies are eligible for seats 

U, aVe. ■ jk.'. 1 —A hnt flinv have 


The law gives the emplaybeg'un- board, .but they bave 
!_ j — — :*v m — 1 — - in less than 


in .companies with 50 or raoreubeeh -laken 
employees a right to elect two i ~ ' 
members to the board, of 


up 


tton hotb to andL^m en^>Xh«^^; J 
: The unions- ;-T’ ; 

points ' of crifidsB^?; 
board members 

the same xuies'.of dpoifidenthdSy Sr* 
as all other bdhrd zttCTifi^rk*^^.''^. 
they feel that this '«i^t^w-Vv; 
hinders worker diRfctijn^^^ v - 
telling cofleague$ aIl s f^fflTjb^ -/i ' 
feel they tmght^JoSsw-Se&^iT^ 


directors. Only employees The main CTltlClSIIl 

the company are eligibte. , . years tit 

election and -they must . L .. y'-- 

worked with the company. .jor* office is DOt eDOUgil 
at least a year: All comply:, j. ^ . mn j nvf « ' . 

employees, except members, of: tui . 

the board of management, have director S 9 
the right to vdte and if fe y 

impossible for outside ’bodies.’ .'. , • 

such as the Danish TUC,.tb; 


appoint members to company -'V.; 

boards. ' ^IsflOfl-companies. It Is almost 

Elections axe held b, a staple ^friSit’^ 
majority voting system. v^ich-W^ f£ d ^ Bendix 
usually results in the ^ Danish tug expert 

coflar unions having a dbrnipant ^ subject “Where the 
voice. When the first ^^ : awDer j S also the managing 
tmns were held, bluejind white a^ctor, the board has no signi- 
collar workers n most- co^ ^ he said . 
panies agreed to share.- the _ ’ „ «»« 

unions have tSln more of the. operation committees on which 
1 places. 

1 <>*«■ 50 employees 

set up committees if either 
federation survey in 1975. . v management or workers recom- 

■ mend it, according to a 1970 
- - 'agreement between the TUC 

Miarenolaers . <jm& the employers. 

.>*■’ • in some cases workers have 

If the board feels' that the declined to elect board repre- 
white-collar workers should be sentatives where the company 
represented even though they jg in financial trouble, 
have failed to obtain an elected Employees have preferred to 
representative, it can also co-opt jeave responsibility with the 
a white-collar nominee to the shareholders’ elected repre- 
board. Metallic, the die=castihg sentatives. 
company in Skive. Jutland, The impression given by both 
asked the white-collar employees ^j des of j ndusC iy is that the 
to nominate a. member anjLfigk; 


a board in.Londdh,=^)ri®ll^te:^'_ 
can decide to shut' down- h; 
pany in Denmark 
suiting the Danfeh; 

-Bendix Bardrup 

the whole the zhoMmhloiu^^e^:; 
no less eager to r- : , , 

employees. - 

. ; y--. y v ; ■?< 

- Evaluation 

-Third, the - -^stenj: 
function properly for 
group operations.. The "troldthg/ts 
company where fee ^ 

sions are taken, may have fewer y 
than 50 employees and therefore 
no employees on the board. lire' ^ 
Folketing is - discussing - an ' ■ 
amendment which would enable 
employees of daughter - com- 
panies to elect representatiy^--. *; - 

to' the parent company’s- board, 
but the fate of the . amendment r 
is as yet uncertain,. . . . -.r.-v^Vy j. 

The main criticism from 
ployers is that ttte - iwo-year^^-^ = 
period of office for - worferl:-;^ j 
directors is too short becahselh ;^: 
limits the amount that employee': ^ 
directors can do. _ " • 

On the plus side, 
point to the fact that evaluathni:^ 
of an employee is alvwys co^; 
sidered by the board, Ltfiattii 
understanding of : company' ^ 
accounts among employed has 
greatly improved, and th^-the'. T ;y 
work of flhe board has been: ■ - . 
demystified. . 7^^-- A' 







Business efficiency is big business. 
Computer hardware, software and systems 
are all expensive. And keeping business 
efficient is a job that keeps men busy. 

Reaching these men is never easy. 

But with the Financial Times on your 
advertising schedule, you’re more likely 
to succeed. 

Through our regular columns on the 
Technical Page, in special surveys and 
specific articles, we coverthe latest 
developments in the world of computers 
and accounting systems. Carrying news of 


the latest developments long before it 
appears in specialist journals. 

We talk to businessmen about business, 
to office managers about management 
Every day of the working week. Which 
means that we get read. 

if you, oryour clients, want to keep your 
own business efficiently profitable, contact 
Robert Murrell on 01-2488000 
(extension 246). And sell computers. 


FINANCIAL TIMES 

EUROPE’S BUSINESS NEWSPAPER 



Bracken House, 10 Cannon Street London EC4P 4BY. 
Telephone G1-24S 200Q.Telex: SS5G33 (Advertisement Dept). 


How to spot that J 
technological winner 


HOW CAN a general manager 
tell in advance whether a 
technological innovation is a 
potential winner or loser for his 
company? This has become' the 
nightmare of many a top 
businessman, as the need to 
innovate has grown — and with 
it the cost of backing a “ loser.” 

Illustrating the question even 
more painfully, an article in the 
latest Harvard Business Review 
asks “ How did the manage- 
ments of such corporations 
as Addressograph-Multigrapb, 
Lockheed, Eastman Kodak and 
IBM all .fail to recognise in 
xerographic copying a major 
opportunity? " 

Suggesting a framework 
within which general managers 
can assess the ' strategic merit 
of a potentially radical innova- 
tion, the article emphasises that 
It is no good delegating respon- 
sibility for it to experts— 
whether research and develop- 
ment or marketing specialists. 

Such delegation is sensible 
for products in the midst of 
their life cycles, when con- 
tinuous evolutionary change “ is 
the substance of business 
advance,” the authors state. 
Here, general managers can 
depend on established agencies 
and systems, and the appro- 
priate question for them to ask 
during their periodic reviews 
is “Are we doing the job 
right?” 

But the exploitation of basic 
new technical inventions for 
emerging markets poses a 
tough question that only the 
general manager himself can 
answer. Not ** Are we doing the 
job right? ” but “ Are we doing 
the rifeht job?” Line manage- 
ment is illrequipped to answer 
the second question, for 
several reasons, the authors 
argue. 

First, line managers cannot 
be aggressive advocates of 
their functional specialities and 
still make the objective assess- 
ments required for strategic 
judgment. Second, the very 
style that Is mbst effective in 
managing continuing operations 
becomes a disadvantage in deal- 
ing with radical technical and 
market changes. 

Finally, “the wide range of 
possible outcomes and high 
level of uncertainties involved 
in a major innovation require 
that top management commit 
Itself firmly and explicitly.” 

Illustrating their point about 
the need for general managers 
to become fully involved, the 
authors emphasise that although 
the transistor was an American 
invention, it was Japanese 
general managements which 
seized its advantages for an 
expansion market: initially, 
pocket radios. "The operations 
base and customer acceptance 
in the U3. market that stemmed 
from this original technological 
coup have served as the corner- 


stone of a key Japanese -export 
industry" (consumer elec- 
tronics). 

The strategic . assessment 
framework proposed by the 
authors for general managers is 
based on their argument that 
the main determinants of an 
innovation's success — “ techno- 
logy potency,” and “ business 
advantage " to the company — 
rest on four underlying con- 
siderations: inventive merit; 
embodiment- merit (the embodi- 
ment of the innovative concept 
into a working product); opera- 
tional merit Cits impact on the 
company’s existing business 
practices); and market merit 

Provided the reader is not 
deterred by' these, and other- 
examples of American business- 
education' jargon, the article 
provides a useful Intellectual 
framework for the general 
manager to assess technical 
innovations which might other- 
wise daunt him or pass him by. 

How to spot a technological 
winner. Harvard Business 
Review, March-Aprfl 1978. 
Boston, Massachusetts 02163, 
UB. 

Christopher Lorenz 


'SOUNDMCVINQ 1 
FOURESHCW 



18mm and video users, still photographers. 
Come and see the very best in cine, photographic; , 
audio-visuafand video equipment 


Ybur chance to handle aU our equipment 


Get aH your questions answered by the experts 


Freeadviceonmaking'tnovfeo-silemimdsound 


Free competition— with super prizes 


Ws going to be a great event-so don’t forget 


Get free tickets from your local dealer or atthe door 


GREAT EASTERN HOTEL 
JUNE 13, 14 and 15 
9.30am -8pm 

Liverpool Street (next to 

Liverpool Street main line station), London EC2. 


BELLeHQUJELL 


hW-l 


W 


m 



Building Society 


Announces that the following interest rates will apply to their 
investment accounts from 1 July 1978 


Ordinary Share Accounts (£1-£1 5,000*) 
Subscription Share Accounts 
Capital Bonds 


2 Year Capital Bonds (£500- £1 5,000*) 
y % above Ordinary Share Account rate 


3 Year Capital Bonds (£500-£1 5,000*) 

1 % above Ordinary Share Account rate 

4 Year Capital Bonds{£500-£1 5,000*) 

1 % above Ordinary Share Account rate 

Deposit Accounts 
Save-As-You-Eam Accounts 


Net 

at a basic rate of 
Income tax of 33% 

6 . 70 % 

10 . 00 % , 

7 . 95 % 

11 . 87 % 

7 . 20 % 

10 . 75 % 

7 . 70 % 

11 . 49 % 

7 . 70 % 

11 . 49 % 

6 . 45 % 

9 . 63 % 

8 . 62 % 

12 . 87 % 


. . ic yucu a i uccu cAu a. interest fjeuu of i cm existing uapitai Bonds ? • - 
continues unchanged.The actual rate of interest paid on all existina 
Capital Bond accounts and on ail other investment accounts on • 
which composite rate tax is paid by the Society (except fixed interest 
accounts) will be increased by 12% from 1 July 1 97a nter «s£ 

( *Up to £30,000 Injoirrt account) 

Head Office; NewQxfordHouse,H^HoTbom,!jondonVVC1V6PW • 


W%k- 

[*>7: litefs 




- UR1 









1 em PloS 
* r >' 

Actors J 

a r °*-S*5 

f «n«W 

*"»*.*£ 

* Tins ^ 
d ?'*n a |5 

,*' ll hout^ 

1 PraplC 
WJli a,,* 

nat i0nal ' 

■operate ^ 


! ’ rt ' , , i:M enii 
a ".shter e*. 

-'■■-.r<-‘.enta);s 
mia?.jr\; ^ 

V| '“ Jinpncaj 

r.. 

- •" fro-n e 
• i’- r»>jt 

? • viu 

^'•r ??:=>«; 

: ^rrpl/iT! 

is'i*. espl-^s' 
'• s’ eval-jr:'. 
■'.:'*iw ;* 


slG 

A/ 

0k 

Pil 


iV-i-*; . - : ..Vy. '•, 
J Jt; ..£• * ■><*:. 


Dat&tdlLanHed. Weston-super-Mare 


Mann industries Limited. Mansfield 


O 5 1 


BUrw Knox Limited. Kocbester 












*:• •’ Mie.' -HSfef * 




«5K- 


Etectrfcconvectioncuri^ 
improves product quality 

Low-cost installation 
with electric vat heaters 

Electric infra-red oven 
speeds paint drying 

Hail and HaB Limited, Hampton p--. 1 " 

John P. Webstar Limited, Shepherds Bush, Loudon 

CompraTrtm A Nameplate* Limited , Dunstable 




’ •$: a 



. . <?*.-+■ ■ 
mm 




A - ' 



:Af 




'.VE‘ 















1 1 




:i» 


electricsteam 
us© saves money 


Small foundry melras big cost 
savings by going electric 


RHP Bearings limited, Black bom 





Electric infra-red curing 
increases production 


Electricity. 

Results on 
application 

Rising fuel prices and an awareness that our raw 
material resources are limited are causing industry 
to take a fresh look at fuel and energy costs. The 
companies featured here have all adopted electric 








and profitability. If you would like to know more 
| about these applications return the coupon below. 

| Name 

Position 



Post to: The Electricity Council, Room 2R2, 
30 Millbank, London SW1P 4RD 


\ !•■ I 

r ,l‘ 


;f "ill 


Electric foundry atKomation„and 
a better eiwiromneEi for everyone 


The Electricity Council, England and Wales 

"" *” ^ 21! 2 202 









lombard 


ITHE WEEK IN THE COURTS 


WORLD CUP BT ANDREW CLAIRE 


. ' Financial Times Monday June l2 




Seeking prudence Fierce controversy Homebound Tunisians 






BY SAMUEL BR1TTAN 


over Bail Ac 


have the laugh on West 


: : Ji I- . 


“WHAT IS prudence in the 
conduct of every private family, 
can scarce be folly in that of a 
great kingdom." It is this 
maxim of Adam Smith which 
lies behind the letters I receive 
from people who are shocked by 
budget deficits and ask how 
many years* jail the directors of 
a joint stock company would 
receive who conducted them- 
selves in the same way. 

There is on the other hand 
another, and cogently argued, 
school of thought which main- 
tains that the analogy between 

a, family and a government is 
almost the opposite of the truth. 
The job of the Government 
budget is, on this view, to act 
as. a balancing wheel. In other 
words, there should he bu'deer 
deficits when the private sector 
is- not spending sufficiently to 
promote full employment and 

b. udgel surpluses when private 
spending is excessive. Accord- 
ing to this view — known as 
"functional finance" — even over 
a whole business cycle there 
might have to be a budget 
deficit 


the distinctly anti-Keynesian 
Wall Street Journal believes that 
tax cuts, even without expendi- 
ture cuts will revitalise the U.S. 
economy. 

Thus we are back, with what 
Keynes noted in his Preface to 
the General Theory in 1935 as 
"deep divergences of opinion 
which have for the time being 
almost destroyed the practical 
influence of economic theory, and 
will, until they are resolved, con- 
tinue to do so." So perhaps 
readers will understand why it is 
impossible to give an intellec- 
tually honest response to their 
anxieties about Government 
deficits, which is short, pungent 
and intellectually honest. In the 
meanwhile it would help if some 
nf the more fervid budget 
balancers would at least refrain 
from impugning the motives of 
the Keynesian writers whom they 
have usually not even read. 


BY JUSTINIAN 




Gladstone 


Fuddy-duddy 


Ten or 15 years ago an up-to- 
date economic student would 
have bad no hesitation in coming 
oat with the second view and 
regarding the balanced budget 
doctrine as fuddy-duddy. Even 
when interest in controlling the 
money supply revived, the 
balanced budget doctrine did not. 

• The monetarist prescription 
was for a hypothetical budget 
balance, hased on revenue and 
spending at some hypothetical 
]e.vel of sustainable full or high 
employment. But no one now 
knows what a sustainable full 
employment level nf national 
income really is. So this com- 
promise doctrine is of limited 
help. 

Store recently, there has been 
a revival of interest in the idea 
of a balanced budget pure and 
simple. A distinguished U.S. 
authority on public finance. Pro- 
fessor James Buchanan, has 
recently written with two col- 
laborators a paper urging that 
the House of Commons adopts a 
new Standing Order, to be waived 
only by a two-thirds majority, 
laying down that Government 
expenditure must not exceed 
revenue, f The Conscqences of 
Mr. Keyness, Institute of 
Economic Affairs. 2. Lord North 
Street. SW11. £1.50.1 The 

Shadow European Economic 
Policy committee headed by Pro- 
fessor Karl Brunner {from the 
University of Borne} has called 
for a balanced budEet to be 
achieved over five years. 

Does this mean that the old 
doctrine has been re-established? 
By no means The Bank for In- 
teYnational Settlements regards 
a fiscal stimulus, combined with 
strict monetary guidelines, as the 
best way to holster flagging 
growth rates in the West. And 


Perhaps, however. I can point 
out a very practical difficulty to 
the budget-balancers. This Is that 
it is far from clear which balance 
they have in mind. The Giad- 
srnnian budget covered all cen- 
tral government expenditure, 
except that for which Parliament 
had explicit)' sanctioned loan 
finance. The latter applied to cer- 
tain capital operations which fell 
“below the line.” The division 
was archaic and was dropped in 
the 1960s; so that the Gladstonian 
balance is not even calculated to- 
day. 

The current balance of the 
public sector as a whole is in fact | 
expected to be in surplus by 
£3.7bn in 197S-79. After taking 
in capital expenditure the puhlic 
sector is expected to run a 
£7.4hn deficit. The inclusion of 
financial transactions hrincs one 
to the famous " borrowing 
requirement " now reaffirmed at 
£S.5hn. Should taxes he raised 
yet again to yield another £8.5bn 
or £7.4bn nr cut to make revenue 
fall by £3.7hn. And these are 
only three out of dozens of 
halanres given in the Financial 
Statement and National Income 
Blue Bonk. And you can he sure 
that whichever concent were to 
he chosen For a budaet halancinc 
exercise, ways would he Found of 
channelling expenditure to 
a<;eniM"5 and artiritins outside 
the official budget definition. 

In the meanwhile, the best 
advice one can give to Finance 
Ministers is to see in practice 
how large a borrowing require- 
ment can he financed outside the 
banking system at tolerable rates 
of interest and adjust accord- 
ingly. 

They may say “ I did not need 
an economist to tell me this." 
But I can assure them that even 
this simple sounding message is 
far more controversial than it 
seems and raises many problems 
of interpretation and implemen- 
tation. 


WHATEVER ASPECT of the 
administration of criminal 
justice one encounters nowadays, 
there is almost only one topic 
of abiding interest and discus- 
sion. Not even the revelations 
of the vast international banking 
fraud perpetrated by the “Hun- 
garian Circle" or the conviction 
of a Bank of England official 
for a conspiracy to ccntravcne 
the exchange control laws, have 
been able to oust the subject of 
bail as the prime topic of 
lawyerly conversation. 

Two months ago the provisions 
of the Bail Act 1976— a modest 
enough piece of reform designed 
to relieve the pressures on the 
remand population of our 
prisons — were at last brought 
into force. 

Since then there has been a 
vertiablc battery of argument 
about the wisdom of the reform 
that has brought out the troops 
on both sides of the unending 
| battle between the "law-and- 
I order” lobby and the "do- 
gooders." 

This obsession with the ques- 
tion of an accused persons’ 
liberty pending his trial, 
primarily an issue for the magis- 
tracy of the country, is exempli- 
fied "by the issue of this week’s 
Justice of t he Peace, the main 
organ of the magistracy. 

That journal devotes one of its 
three leaders to the subject. It 
publishes in full the judicial 
remarks of a circuit judge in 
Soutb and East Yorkshire and 
four out of the six letters to the 
editor published are answering 
previous articles in the journal 
on the subject nf the Bail Act. 

One letter from a London 
justices' clerk exemplifies the 
most irksome part of the new 
law, namely the administrative 
inconvenience of it. The clerk 
writes to claim a place for his 
court in the legal Guinness Book 
nf Records. 

A committal recently of eight 
defendants for trial to the Crown 
Court was a formality, lasting 
only six minutes while the 
documentation passed under the 
noses of the magistrates without 
them having to so much as give 
a cursory glance to the prosecu- 
tion witnesses' statements. 
Nearly two hours later the bail 
applications were complete. 

The clerk writes: “Ironically, 
ait conditions of bail were agreed 
hy both sides and nnt rne repre- 
sentative could have cared two- 
pence whether the Bail Act was 
complied with or not." 


Burdensome 


The architects of the Act 
would observe that this was time 
well spent and that the detailed 
requirements upon the court in 
dealing with bail applications 
concentrates the magisterial 
mind wonderfully on the prin- 
ciple that bail must be granted 
unless the case fails within one 
of the stated exceptions. 


But there is little doubt that 
the much-pressed magistrates' 
courts are finding the burden of 
form-filling, in order to comply 
with the Act, very heavy. Some 
complain that this Ls another 
example of humbling bureau- 
cracy foisted on courts’ by Home 
Office officials remote from the 
exigences of court work. 

Whatever the truth of this 
perennial criticism, thr- reurt 
administrator’s Ire spills over 
into the area of heated discus- 
sion about the substantive 
provisions of the new law. 

Although the Bail Act 1976 did 
little more than confirm what 
had become the established prac- 
tice in the granting rf bail over 
since the Criminal Justice Act 
1967. the distaste for the new 
burdensome administrative prac- 
tices seems to bring out the 
hostility towards the long- 
established law. 

A stipendiary magistrate in 
London wanted to remand in 
custody a young man of 19 who 
had admitted sending a cat's tail 
and a live frog through the post 
to a young lady — not an offence 
which even carried the threat of 
imprisonment. In remanding 
the man in custory “ fo r his own 
protection,” the magistrate said 
that he regretted that " in order 

to do my duty as I see it, I have 
in defy the provisions of the 
Bail Act." 

But that was one isolated inci- 
dent. The Act has its fiercer 
and more widespread critics, 
although some of them are 
dressed up in the form of criti- 
cism of the way in which bail 
has been granted by magistrates 
in recent years. The new Act 
after all merely reinforces tne 
context in which magisterial 
hahits. gond nr bad. are said to 
have grown up in recent years. 

Thus the circuit judge in 

Sheffield, whose pronouncement 
nn the subject is published in the 
current Justire of the Fence. 

claims that for some time hail 
bus been granted too freely. 

It is thought that in a" fair 
number of cases an accused has 
repeatedly committed offences 
while on bail. (The judge's re- 
mark may of course just he a 
case of hindsight). In any event 
his criticism is strange, because 
long before the Bail Act the 
higher courts had indicated in 
strong terms that it was wrong 
to grant bail to persons charged 
with burglary (the most common 
property offence) if there was 
any likelihood of similar offences 
being committed. 

The man who repeats his crime 
while on bail may very well at 
the end of the day receive a 
longer sentence than the man 
who is stopped in his criminal 
activities by being caught and 
bailed. Both may return to 
crime as soon as thev regain 
their liberty— the one earlier 
than the other. In the end. the • 
community will suffer, either 
sooner or later. 

The real issue is what the long- 


suffering public, who are the 
potential victims of crime, sire 
prepared to tolerate. That 
society has to tolerate a vast 
amount of undetected and tin- 
prosecuted crime is unhappily 
undeniable. How much more 
has to be tolerated in tbe shape 
of the few that are caught and 
prosecuted is hard to gauge. It 
is probably no more than a tiny 
percentage of tbe overall loss and 
damage that the public suffers 
willy-nilly from crime. 

And then there is the problem 
that any tighter application of 
the law may involve courts 
refusing bail to persons whom 
they think will commit further 
offences but may be halted in 
their tracks by the threat of 
prosecution, conviction and loss 
of liberty. 

Every year something 
approaching 50,000 people are 
sent to prisons or remand homes 
to await trial or sentence. 30.000 
of whom have not been con- 
victed. More than 2,000 are In 
fact not even found guilty at 
their trial and nearly 20,000 are 
not even given prison sentences 
when they are convicted. 

It was to remedy that situation 
that led reformers to urge greater 
restrictions on the courts to 
remand in custody. 


Tolerance 


To achieve that reform we' may 
bave to countenance that some 
repetitive offenders will escape 
custody pending their trial. 
Public tolerance of the few per- 
sistent thieves and burglars has 
to be weighed with the right both 
of the many to their liberty 
unicss and until proved guilty 
and of those found guilty whom 
the courts do not think ougbt to 
suffer more than a fine or some 
other non-custodial penalty. 

A more sinister aspect of the 
present controversy is that 
courts say that they apply the 
law on behalf of the public, and 
if that means larger numbers of 
accused being sent to prison the 
authorities must provide ade- 
quate accommodation. 

It is better for the public that 
we keep in prison the small num- 
ber of dangerous prisoners in 
conditions that do not cause dis- 
ruption and rioting than that a 
number of petty criminals, whose 
activities are a nuisance rather 
than a menace, should fill .our 
prisons .to overcrowding that 
points 1o inevitable disaster in 
the prison service. 

Again, the public tolerance 
may bave to be stretched in 
order to obtatn the higher gopd 
of the system. 

Crime may be increasing, and 
may continue to increase. But 
the provision of more space in 
prisons for the few that are 
caught and sent there as uncon- 
victed prisoners or sentenced 
offenders for the crimes that do 
not cause very serious harm will 
do nothing to control the ebb and 
flow of such criminal activity. - 


THAT MERRY Parliament*!? Plenty of stirring 
cry “Who Goes Home?" has - rfrona Brazil's manager couuimo. 
no sound of welcome relief for but tbe sort of backing *»•?*?• 
the team managers and the from his shattering^ 
squads they lead whose 1978 'lugslde was the kind that neeos 
World Cup came to « distinct and gtetrfres l A 

depressed end here this week- ' Brazil's players . loatnea 
end. • • ~ Coutinho’s attempts 

For some the early dismissal, them play with some semblance 
was so much a matter of realistic of European thrust ana omsup- 
schedizle they already had flights" line; he felt what we aH now 
to homeland reserved, even tianw; that the present team are 
though hope would linger- that totally ' inadequate to remaan. 
they might be forced to iniss ; the ; Wkl to their old magical 
aireraft. - -.'methods. ’ If you cannot skate 

For others the journey Me Cany better to get down on. 

will be miles of total backside and slide .-.but 

leaduig to wrecked careers- aniT f^uLrho!r- sur iy squad pre- 
ruined professional reputations. ,'^2to fall with grace than 
Some wilt not. only have ; had 'gg 1 ™ f !£s , 

no premonition of disaster, they." Su^nian players were not, 
will equally never be able to look SeTSncour for 

back , and discover why it hap-_ “iJi; «t is known 

pened. There is a chemjSg ^^^fanadSlral^uto 
about these tournaments . . .- w „ irmv cantain 

almost as though a team's flrst ^taBng.charge of 
match, even the first minutes ofi -pgutinho’s side. > wu reve^ 
its first match, acts as a catalyst .&«*«* with such. bitterness when 
And the reaction is a chain that /players troop home that 
nothing can reverse. Ronald Biggs might well decide 

France, played beautifully for; he prefers the calm. ana 
30 minutes against Italy, scored,-. .anriAbillty of Parkhurst. 
missed twice, and could not re- “1 

gain that impetus. Theygo Cnn^nlatlOIlS -• 
home. Scotland scored firit. .VUU.3Uiauuiw 
swung into their ritual dance of ; Of those players who must go 
self-satisfied posing, were over- home, one, Michel or France, has 
whelmed by Peru, and they go two small consolations. L as ms 
home. It would “ have been flies on Concorde the re- 

pleasant had they been abler to treaF-from 'defeat will pass 
return with dignity; but .the rather more swiftly than that of 
matter of the mildly-drugged Marshal Ney. 2. He leaves behind 
player, the revelations of schisms reputation enough to win selec- 
in the squad— revelations' which;- tkm by a panel of international 
more sordidly still, severe!- journalists as a member of the 
players have been trying to sejl best 11 of the first half of the 

— must render their return a tournament. , 

retreat. It 'is a small enough mark of 

Tunisia beat Mexico, hit the merit perhaps, but the team 
bar when playing Poland, the itself is fascinating, as muchm 
third best side of 1974,' and drew Its omissions as inclusions.^ The 
with West Germany, but they choice was: Hellstrom (Sweden); 
too, go home. - Every neutrer Sara (Austria). Krol (Holland), 
should stand and cheer there- (Austria), Tarantmi 
every metre of the way. ' " . “ (Argentina). Nawalka (Poland), 
Tunisia came to the founut- Michel, Flohe (Germany), Kreuz 
meat having scraped a passage (Austria), Luque (Argentina), 
in a penalty shoot-out with Krankl (Austria). 

Morocco as the “ joke ” team that The first surprise is the four- 
all these tournaments are.: be-- strong Austrian ingredient Two 
cause of Third World politics, weeks ago the only candidate for 
suppose to endure, some joke — a world 11 to play Mars from 
and it was on us. ■. that, country would have been 

Tunisia played some of -.the Krankl, whose standing has been 
brightest and most imaginative- confirmed this week by the 
football of the early tournament, announcement that Barcelona 
with what some called innocence have just paid 5300,000 to use 
and they insist was courage: him next season. Sara. Pezzey 
Their manager Majid Chetali and Kreuz. however, had been 
said "We came to learn and* rated no more than admirable 
perhaps we have 'even taught .workmen . Perhaps the - con- 
From what we have .observed we', slant ly-he raided -second coming 
can learn nothing of technique . bf the immortal Austrian team 
as individuals, and nothing £rore-of. between the wars is upon us 
the tactics of fear that so; many- -afrlast. 

employ. We nrast-discover only;- As all goalkeepers are known 
how to play with more stcengtir to- be daft any man can do 
and endurance." . - . -•“enough in two or three matches 

Bold words, but his side had jto^soar to famous. heights: Hell-, 
played the game to bade Hum. sfrbm, ..who wanders about in 


oversized . .Shorts: ' 

though be lias- come :^x ... . . 

.about with .the into op.ttehescfc, 
goes . 

threatened' by. a shot.-^iaa : ^it& 

-deserves his 

been as omnipresfefit as thg,^ ^ : - 

Nawalka . or r .as . a nra fprweu£~ £ “ ; 

the Argentine; : • 

. On balance it- la ?■ - . 

that surpriBe-hae; r . 

is no Brazilian; -In -thnr^eSeetM^".?- ,-j t .- 
after we ha d spept-.ayear tiling : ];••= - 

ourselves how Rfveiaa^fo^.^v , 

control the 

countrymen Gefstsnr^e^b^^ - . . 

- File have .. : 

tournaments.- " . 


tournaments.- " 

There -ts n o . . ate - : : 

side.” and •- • ; 

entire team has . ^ , 

fluent menace, - V ■ -‘ - 

Bettega have '. V 

they used so crueujr.pnrEnOTWfS^ - iv ... 
Throat. Yet had T been^aroaofi 
when ballot boxes.-ftpWWX . * .. 
would have put one cross against- ; •:■' 

th^nameeff 


the name oi rauiw.jwa 
■™The only represeat^tives • ^ «- 

the current champion natfoBWas ^ L 
Flohe, as cool aft nptf. j. 

as -in Munich.- Buf. : Bonhdff-.. ; 
another of the. foothair .generals ->< 
in the controlling junta- ■«f -th» 
global game, has been 
bv an apparent mood .of playing 1 
pessimism, in wh ich; .-- he ?; ho lds -■ ’.. - . 

bri Beheads ■ in opposition^. leri sin ,. s _- 
rather than - leads " : 

St Tte'list wilU-'Ttati^afe§.Vyr : .._ 

amended again and. agatoAu me : • 

nett two weeks. - It IS: - 

nature <rf these 1 . 
that wc remember 'Jhest; 
who do well latest ^ThHS;3»;m| J - 
will torcet Hurst’s three -goals -iir - 
the 1966 final white, ftw renfeui^ . 
her the greater, display oTapdffly-.- <*■ _■ 
artistry a few days earbek it- • 
gave Eusebio four goals:- jp.va e '**•/*- 
match that had stood 5» xmpnib^ 
ably 3—1 in favour of; . 

Korea. ‘ . . ' - ■ 

Many of those who dp noreara ■ 

a vote in these straw polls wifr w .. - 
co home differently , rewarded ' ~. v 
. . . perhaps as new nationfl-.; 
heroes -such as. the. mucbhdi^- 
Swede Bo Larsson, as^.-pfrfaoSd/ - 
as a doomed hero.of a Bei^ffiadd C 
movie: or as internatIUhffl 
mercenaries such as' Ttaii3lllVL- v ';I. .. 
Dhiah and/Lahzainr who 
enough to bring' rival hidajfrftiav •;> . '. . . 
St; Germaino of Paris - aa'a:;^.. - 
Riyadh of Saudi Arabia: • n . - . 

But none go bom e-1 mbre. . 

hurt, surely, than : Scotland!3'- , _ 
Kenny Burns. IntendewettAyla,.^- 
group .of Dutchmen .sniping away. - 
with questions about the -.poor!!’ 
quality' of the Scots; nia© British:'-’ ”- " 
newspaperman was. .provoked V: *•" 
into saying come 1 t. theyr L ’ - 
weren’t all that ba<L : 'Li messi' \ ' 

Burn's was England's footballer 'i. ' 

of the year” “ What;” saiff ;.x 

Dutchman, “yon are surely 7 
pulling my trousers.” T : ■ 


CRICKET BY TREVOR BAl^Y • , -X 

.. v. .. ; ... 

j. . • ... . \ >. 


A surfeit of bouncers 


.■ j' -»r.. 



t Indicates programme 
ia black and white 


BBC 1 

6.40-7.55 am Open University, 
9.28 For Schools. Colleges. 10.43 
You and Me. 11.22 For Schools, 
Colleges. 1.30 pm Camberwick 
Green. 1.45 News. 2.01 For 
Sehools, Colleges. 3.53 Regional 
News for England (except London 
and SE). 3.55 Play School (as 
BBC-2 11.00 am). 4^0 The Oddball 
Couple. 4.40 Chessars Plays Pop. 
5.05 Blue Peter. 5^5 Roobarb. 

5.40 News. 


5.55 Nationwide (London and 
South-East only). 

6.20 Nationwide. 

6.50 World Cup Report 

7.20 AngeJs. 

8.10 Panorama. 

9.00 News. 

9^5 The Monday Film: "Man 
In The Wilderness," star- 
ring Richard Harris and 
John Huston. 

11.05 Tonight 

11.45 Weather/Regional News. 

All Regions as BBC-1 except at 
the following times: — 

Wales — 1.30-1.45 pm PDi Pala. 


5.55-6.20 Wales Today. 11.45 News 
and Weather for Wales. 

Scotland— 5.55-6.20 pm Report- 
ing Scotland. 11.05 Public 
Account 11 AO pm News and 
Weather for Scotland. 

Northern Ireland— 3.53-3.55 pm 
Northern Ireland News. 5.55-6.20 
Scene Around Six. 1X45 News and 
Weather for Northern Ireland. 

England — 5.55-6X0 pm Look 
East (Norwich); Look North 
(Leeds, Manchester. Newcastle); 
Midlands Today (Birmingham); 
Points West (Bristol); South 
Today (Southampton); Spotlight 
South West (Plymouth). 


F.T. CROSSWORD PUZZLE No. 3,690 


BBC 2 



6.40-7.55 am Open University. 
11.00 Play School. 

4J»5 Open University. 

7.00 News On 2 Headlines with 
sub- titles. 

7.05 Taking Shape. 

7.30 Newsday. 

8.15 The Two Ronnies. 

9.00 Play Of The Week: Kenneth 
More in "An Englishman's 
Castle," part 2. 

9.50 Tales Of India. 

10.30 Sea Tales. 

11.00 Late News On 2. 

11J0-1L25 Music at Night 
BBC-2 Wales Only— ^ 7.05-7 JO pm 
, Heddiw.l 1.10-1X35 Taking Shape. 


LONDON 


9.30 am Schools Programmes. 
12.00 Jamie And The Magic Torch. 
12.10 pm Daisy, Daisy. 12L30 News 
plus FT Index. 12.55 Help! 1.00 
World Cup TS. 2.00 After Noon. 
fZ25 Monday Matinee: "The Man 
In Grey," starring Margaret Lock- 
wood, James Mason, Phyllis 
Calvert and Stewart Granger. 4J20 
Clapperboard. 4.45 The Tomorrow 
People. 5.15 World Cup 78. 

5.45 News. 

6.00 Thames At 6. 

645 Help! 


6.40 Whodunnit? 

7.30 Coronation Street. 

8.00 You’re Only Young Twice. 

8.30 World In Action. 

9.00 The Strangers. 

10.00 News. 

10.30 The Savage West: “The 
/Hunting Party." starring 
; Oliver Reed and Candice 
i Bergen. 

12,20 am Close: A painting by 

■ Velasquez with music by 
Rodrigo. 

All DBA Regions as London 
except at the following times : — 

ANGUA 

12J9 pm Anglia News. 2JH House party. 
2J5 Mystery Movie: McMillan and Wife. 
U0 Cartoon Time. About AnsUa. 

12JS am Reflection. 

ATV 

12.58 pm ATV News desk. 3L25 Movies 
to Remember: "The Barbarian and tbe 
Geisha" starring John Wayne. LOO ATV 
Today. 10 JO Left. Right and Centre. 
U.00 The Sarane West: —rtie HtimlnH: 
Party" aramOE Oliver Reed, Candice 
Bergen and Gene Hackman. , 

BORDER 

TX2J8 pm ‘"Border News. 2.00 House- 
party. t2J5 Matinee: "Three Hsu lor 
Lisa" starring Joe Brown. 4J0 Cartoon. 
LOO Loakaronnd Monday, nn -Rising 
Damp. 1 1 2 .25 am Border News Summary. 

CHANNEL 

12.48 Pin Channel Lunchtime News tod 
What's On Where. t2JS The Monday 
Matinee: "The End Or The Affair." LOO 
Channel News. (.10 The Amszina Chan 
and the Chao Clao. 10.28 Channel “tale 
News. 10J2 Survival. U.00 The Saviue 
West: "The Hunting Party." ism am 
News and weather in French tallowed by 
Channel Gazette. 

GRAMPIAN 

9.23 am First Thing. 12.50 Grampian 
News Headlines. 225 Monday Matinee: 
"Don't Drink the Water" srajrlng Jackie 
Gleason. LOO Grampian Today- £30 
The Electric Theatre Show. Iran am 
Reflections. 1225 Grampian Late- Night 
Headlines. 

GRANADA 

12 .50 pm Dodo. 225 Monday Matinee: 
Robert Young In "My Darling Daughters' 
Annlrersary." xa Beryl's Lot/ £.00 
Granada Reports. L20 This Is Tour 
Right. 1030 Reports Politics. 1U0 The 


Savage West: Oliver Reed in "Tha Bant- 
ing Party.” 

HTV 

1230 pm Report West Headlines. J2J5 
Report Wales Headlines. 2.00 Job-Line. 
230 The Monday Mannee: "The Boho" 
Eiarnng Pelcr Sellers. Britt EJcJand and 
Rossano Brazzt. C.00 Report WesL L20 
Report Wales. 

HTV Cymru/Waies — As RTV General 
Service except: 12 .50-12.55 pm Penawdau 
Newyddion y Dydd. 220-230 Ramdden. 
6.00-620 Y Dydd. 8J0-L06 Yr Wrthnos. 

TV West— As HTV General Service 
except: 1230-130 pm Report West Head- 
lines. 620-6.40 Report West. ■ 

SCOTTISH 

1230 pm News and Road Report. 225 
Monday Film Matinee: "Guess Wbo's 
Sleeping In My Bed" starring Barbara 
Eden. 330 Reryl'a Lot. L03 Scotland 
today. 630 World Cup Analysis. 7JM 
Get Some III 1225 am Late CalL 

SOUTHERN 

1230 pm Southern News. 2.00 House- 
party. 2S Monday Matinee: "Passion" 
starring Cornel Wilde. 330 Beryl's Lot. 
5-15 H-ippy Days. LM Day by Day. 1 
1225 am Southern News Extra. 


IT : WAS NOT surprising that 
Pakistan were insehsed when 
the unfortunate. Iqbal Quasi m 
was felled by a Willis bouncer 
on the last day of the first Test 
The ball. Which had been 
bowled from round tbe wickqt 
into the little bowler, bit him 
In the moutivwhicb had to be 
stitched and forced him to 
retire. . 


at about 6 p.m. woald automatic- hurried defensive • shot ,and~* 
ally put oil Sis pads. When used resulting catch. Even more com-. 


TYNE TEES 


42S am The Good Word (allowed by 
North East News Headlines. 1230 pm 
North East News and Look around 225 
Power Without Glory. 320 Generation 
Scene. tJ35 The Little Rascals. 330 
Beryl's Lot. LOB Northern Life. 6-40 
Police Call. 1220 aunt Epilogue. 


ULSTER 


12.50 pm Lunchtime. 2- SO See You 
Monday. 230 Monday Matinee: "Run 
Wild. Ron Free'' slurring John Mills. 
Mart Lester. Sylvia Syms and Gordon 
Jartcaen. 4JS Ulster News Headlines. 
LOO Ulster Television News. £.05 The 
Partners. 630 Reports. 12.15 am Bed- 

WESTWARD 


£227 pm Cos Hone yb on's Birthdays. 
1230 Westward News Headlines. 1225 
The Monday Maiinee: "The End Of The 
A (Fair" starring Deborah Kerr and Van 
Johnson. LOO Westward Diary. 625 
Sports Desk. 1028 Westward Late News. 
1030 Encounter. 1133 The Savage West: 
" The Hunting Party.” 1230 am Faith tor 


YORKSHIRE 

1230 pm Calendar News. 225 Lore 
Starj. 328 Presenting Will Shakespeare. 
330 Beryl's Lot. L00 Calendar lEtrUey i 
Moor and Belmont editions). 


The manager of the tourists 
Mahmood Hussain -protested to 
the TCCB on the grounds that 
the incident was '.'a flagrant 
breach of the experimental law 
forbiding the use of bouncers 
against n on-recognised batsmen, 
a category in which Tqhal must 
surelv be placed. Earlier, he 
had demonstrated that he lacked 
the basic ability to cope with 
a bouncer from Willis that went 
uncomfortably close to remov- 
ing his head. 

Mike Brearley defended Wil- 
lis's bouncer on the logical, if 
hardly ethical grounds, that 
Iqbal had for strategic reasons 
been employed as a night- 
watchman. sent in as No. 3. and 
by hanging around for some 
time, had held up England's 
progress. This argument was 
supported bv the TCCB In a 
rather inadequate first statement 
which led to another one. a day 
later, stressing the need to 
observe the existing regulations 
and bitterly regretting the 
Edebaston incident. 

Before the Lords Test starting 
next Thursdav, the two captains 
will get together to discuss what 
constitutes a n on-recognised 
-batsman. It cannot be on posi- 
tion in the order, as Old and 
Edmonds though hattina at 8 and 
9 are both capable batsmen. 

I discussed the matter with 
Derek Underwood, who for so 
many years had been England's 
permanent nightwatchman, and 


ally pat on. his pads. When used resulting catch. Even more com-, 
in this role Derek expected, and mon is for the batsman to fie 
received,,- plenty of fast, short caught out mis-hooking.:. The 
deliveries from the likes of hook is a fine shot but- iff 
Lillee, Thomson, Hall, Griffith, attempted too . -frequently, b* 
Roberts. Holding, and Darnel on players lacking the necessary. e» 
quicker wickets than Edgbaston, pertise. 

and from faster bowlers Oban The safest way to negotiate,* 
w i» v delivery that lifts- about ; chest' 

He, however, was better high is to. move back- into line' 
equipped. to defend himself thpn. and sway sideways- to 
Iqbal, .who should never have ball to pass. Bowlers^ . tire 

been given the job. Having said quickly of sending them (town if 

this. I still, regret the bounceiis they achieve nothing! .. _-«■ i^-' 

5£ ( Lt l c«£!£’ ^m? se - they w <f re ' Secondly, there has seldom; it 
unnecessary. Willis is a fine. e ver, been.. quite so many fast 
bowier, and should have been .bowlere in "-bur domestic erickeT 
able to bowl him out. If tins as at present This unfortunately 
proved eventually impossible, does not mean that England have 
then was the time to drop him a rich crop of quiduesr— indeed, 
secon( * over apart from Willis, there is .no 

th £iT ay ' - ^ home product fast enough tp 

There is nothing new about worry a class batsman. — but is 
the bouncer, but there has been due to imports from overseas. ■ - 
a marked. increase in its use in Thirdly, although Ctoft. has 
recent yEsrs- It was intended to been warned this summer for in- 
oe a fast bowler s shock ball, and timidatory bowling, umpires are 
it is rapidly becoming his stock not sufficiently strong about-; 
baU - ' interpreting that word, persist*- 

_ _ . . ent, and are allowing too many - 

Profitable bouncers. One every two overs 

,u Tber L aI ^ reasons for ** A^slde effect of this surfett 

^2 imLrr° n n^ Cer c' ,u F l rst : of bouncers can be seen in .the" 
f. nd w- 11 crash helmets and protective 

, IS - Profitable a big head gear some batsmen wear, 

wicket-taker, mainly because so The great Garv Sobers never* 

th e°Pak istaQ 6 fi ra t a fn n^‘ np* ^ il* WOre a t ^ li ® h P ad and reckoned he 
,anin Ss of the ducked only once m his life- 

ihfe T tor S” wmu 6 pure?y as a gesture of courtesy . 

idle for both Willis wickets: to Wes Hall 

Mosbim Khan took his eye off These helmets could well lead- 

^i 11 ? fa,,ed . t0 t0 ao increase in the dumber fiE. 
negotiate a horrid delivery that bouncers, because they wfU-erh- 
lifted sharply, shortly after his courage a batsman to hook at- 
arrival at the cr Mse. head-higb balls that are best left 

Fast, _ short bowling often alone, and provide a reasonable 
undermines the confidence of the chance of holing out The s»f(£ : 
tinud and once a player starts to hook is the one hit early in" 
think more about being hit. than front of square along the gr otxnd 

towiw a °y — but this cannot be done with 

bowler must fancy his chances, anything that lifts above shoulder 
The bouncer can also lead to a bright 


Concert 

Buss 


RACING BY BEN WRIGHT 


, Chris 


ACROSS 

1 Homer for the dove (6) 

4 Avoid Egyptian Leader's 


26 A Frenchman objects to com- 
pensation (6) 


a Hieoaeo it> 1 Finest example of something 

8 Porter spreading disease (7) good for Di^s (5) 

9 House with a northern in- „ «ooa tor pi a * [a; 


terlor of distinctive flavour 2 Beast most likely to get it 

in the neck (./ > 


II Difficult position to be in 3 Exaggerate president's posi- 
regarding rent offered to staff tion (9) 


(5. 5) 

12 Test eastern vote before 
morning (4) 

13 The thanks one gets for letter 
from abroad (5) 

14 Tax on gold swindler (8) 


5 Handy, strike involving fish- 
ing boat (5) 

6 She may succeed by will 
power (7) 

7 Informal royal progress in 
March approximately (4, 5) 


16 Aggressive promotion for firm 10 Camp kettle t0 bring aahore 
betray (4,4) - m the ^eep south (5-4) 

18 ^t ; nE <5, he paper you are »* gas's- 

20 bady ^ s HmJeJ n bbm f„r « 

21 SJS£S? peo'ple ‘Ihnt n.,d counterfeit <9. _ , 


about playwright (3, 7j 

23 Fair prize for the shy custo- 
mer (7) 

24 flacing car giving honoured 
companion a sensation (7) 

25 Householder authorised by 
letter (6i 


17 Force doctor to join a clown 
(7) 

19 Encircle changeover with inn 
(7) 

21 Bear taking soft lead to 
destruction (5) 

22 Applauds the new torso (5) 


The. solution of last Saturday's prize puzzle will be published 

with names of winners next Saturday. 


RADIO 1 

(S) Stereophonic broadcast 
540 am As Radio 2. 742 Dave Lee 
Travta. 9.00 Simon Bates. 1131 Paul 
Burnett Including 12.30 pm NeM^beai. 
2.00 Ton; Bladkburn. 431 Kid Jensen 
Including sjo Newsbeat. 730 sports Desk 
(join* Radio 2t. U.62 John Peel (S). 123ft- 
242 am As Radio 2. 

VHP Radios 1 and 2-540 am With Radio 
2. Including 1.55 pm Good Listening. 
1040 WKh Radio L 12402.02 am With 

RADIO 2 l-ffoom and VHP 

540 am News Summary: Weather. 
542 Ray Moore wlUi The Early Show 
(Si Including 6.15 Pause far ThocighL 

732 Terry Worse iSi Inclndlnu 827 
Racing Bulletin and 8.45 Pause - tor 
Thought. 1042 Jimmy Young "Lire’* 
from Jerusalem i Si. 1230 pm Waggoners’ 
Walk. 1245 Pete Murray’s Open Boose 
iSi including 1.45 Sports Desk. 238 
David Hamilton iSi including 2.45 and 
3.45 Sports Desk. 030 Waggoners' Walk. 
4.B Snorts Desk. L50 John Dntrn (S> 
including 3.43 Sports Desk. 633 World 

| Cop Sports Desk. 742 BBC Northern 
I Radio Orchestra tS'. 738 Sports Desk. 

733 Alan DeU: 733 The Dance Band 

, Days. B42 The Big Band Sound tSi. 
842 Homphrey Lyttelton wltn The Best of 
Jazs on records c Si. gjs Sports Desk. 
1042 Tou-n and Country Quia. 1039 Star 
Satmd. 1142 Peter Clayton Introduces 
Round Midnight, Including 12.00 News. 
246-2.62 am News Summary. 

RADIO 3 464m, Stereo &VHF 

U Medium Wave only) 
a. 55 am Weather. 74B News. 745 
, Overture tSi. 8-00 News. 845 Morning 
! Concert tS>. 038 Nows. 545 Tits Week's 
I Composers: D'lndr and Dunare (Si. 830 
Talking About Music <SL 1IL2S Brahms 
; chamber, music (S). XLW Romanian 


Souks <Si. 1130 BBC Welsh Symphony 
Orchestra (Si. 1-B0 pm Neug. 145 BBC 
Lunchtime Concert iSi. 2.00 Music (or 
organ iSi. 2.05 Matinee Musicals (S>. 
345 Bach: Sis Suites Tor Cello (Si. Lffi 
New Records of ntinic by Rodaly. 

SlroumskJ ISi. 5.15 Bandstand iSl.‘ tS4S 
Homeward Bound. U.05 News. #-18 

Homeward Round (contioued). 1630 Life- 
lines: Home and Pamilr. 730 sdmh ert 
and Bloch concert <Si. 1.05 Luigi 

Daliapiccala concert, part 1 1S1. 735 

A Parliament for the 80s Malk by John 
Griffith). 435 Luigi Dallapiccola.' part 2 
(Si. 1030 A Gentle Majesty rpoems-hr 
Ransom). 1145 Jazz In Britain: -Triton 
iS>. 1135 News. UJB-U45 Toidgfil'S 

Schubert Song. 

Radio 3 VHP wily-6.OB-7.00 am urf 
545-730 pm Open University, 


RADIO 4 i, 

434m, 330m, 283m and VHF 


5.40 Down the Garden Path. 535 Weather: , 
programme news. 640 News. 630 The 
Spamfnncr Man fSL 740 News. 745 
The Archers. 738 From Oar Own ' 
Correspondent. 7.45 The Monday Play! 
■ Si. 9JM An Individual Self: Lauren 
van dcr Post In conrorMtlon 530 
Kaleidoscope. 839 Weather. 1840 Tbe 
World Tonight. 1038 Profile. 1140 A 
Book at Bedlltne- 1135 The Financial 
World Tonight. 1130 Today in Parlia- 
ment. 1240 News. 

BBC Radio London 

2U«ni and 943 VHF 
540 am As Radio 2. 630 Rush Hour. 
9.18 London Live. 1241 pm Cal) In. 
2JB 206 Showcase. 443 Home Run. 638 
luok. Stop. Listen. 738 Black Londoners. 
>30 Breakthrough. 1043 Late Night 
London. 12.00 As Radio 2 1245 am Ques- 
tion Time from tbe House of Commons. 
1.05— Close: As Radio 2. 


Affirmed lands U.S. triple crown 


635 am News. 637 Farming Wee*- 
635 Up to Lhe Hour. 7.00 News. 730 
Today. 735 Up to the Hour i^oodmud’ 
Including Thought for the Day. . .840 
News. 830 Today including >35 News 
headlines, weather, papers, sport. 8.45 
James Cameron with the BBC Sound 
Archives. 9JM News. 945 Sian the Week 
with Richard Baker. V35 Alexandra Rose 
Day ttaiki. 1840 News. IQ.ig wildlife. 
1038 Dally Service. 1045 Mnming'Smnr. 
1140 News. 2145 InsIdc'Ouiatdp- Adjust- 
ing to freedom alter prison. UJO 
Announcements. 2240 News, tana pm 
Yon and Yours. 1227 Bmn o# Britain 
1B7R. 1235 Weather: programme oew*- 
148 The World at Due. 130 The Archer*. 
1.0 Woman's Hour Including 2JW£[ 
News. MS Lifted with Mother.' 3- 00 
News. 345 Afternoon Theatre. US The 
Roof of Wales walked hy Wynford 
Vangh un-Thomas. 530 Pu Reports. 


London Broadcasting 

261m and 97.3 VHP 


548 am Morning Music. 648 AM: 
non-stop news. Lnformatkm. mrl, sport 
and review. 3848 Brian Hayes Show. 
1.00 pm LBC Reports. 3.08 George Gale's 
3 O clock Call. 448 LBC Reports (con- 
tinues). 848 After Eight with Ian 
GtlrhrlsL 948 Nightlloe with Monty 
Modlyn. 140 am Night Extra with 
Adrian Scott. 


AFFIRMED duly confirmed his 
greatness and superiority over 
bis great rival Alydar by win- 
ning the Belmont Stakes here 
yesterday over 1$ miles to take 
America's triple crown by a 
short head in a photo-finish. 

Affirmed became the 12th 
horse in history to take the 
Triple Crown of Kentucky Derby, 
Preakness and Belmont and. for 
the first time the feat has been 
achieved in consecutive years — 
Seattle Slew having landed the 
treble in 1977. 


finished second in all three legs 
of the Triple Crown, and the 
margin of victory, the shortest 
of short heads, was the shortest 
in Triple Crown history. 

Affirmed set a slow pace for 


DOMINIC WIGAN’S 
SELECTIONS TODAY 


Capital Radio 

194m and 95.8 VHF 
6.H am Graham Dene's Breakfast Show 
(S*. 940 Michael Aspcl (Si. 1240 Dave 
Cart isi. 3.08 pm Roger Scon (S». 
7.80 London Today (Si. 738 Adrian Leva's 
Open Line (Si. 948 Nicky Horne's Your 
Mother Wouldn’t Like (( (S>. 1140 Tony 
Myatfs Late Show iS). 2M am Peter 
Yunus'S Nlsht FllsM (6). 


The winner was ridden by the 
18-year-old Steve Cauthen, who 
has yet to touch bis face with 
a razor. This Incredible young- 
ster won a record 487 races and 
more than $6m in purses In 
1977. 

Cauthen could not have ridden 
a more beautiful race. Alydar, 
who ha9 now been beaten by his 
great rival by seven races to 
two, is the first horse to have 


LINGFIELD 

2.30— Jubilee Lass 
3j00 — Amhurst 

3.30 — Klutore** 

4.00— Run Hard* 
4J30 Aythorpe*** 

5.00 — Rheinglow 


the first half-mile, but, for once 
Jorge Velasquez on Alydar 
started to go for home' early in 
the hope of galloping his rival 
into the dirt. The two pulled 
completely clear of the other 
three horses and raced, head to 


NEW YOHK June 11 ; ‘ : ' 

head for most' of the last mffe.. 

A furloog-and-a-half frpifi_ 
home, Alydar got his nose in. 

P rov ed the stinjn- 
Lint Affirmed needed to switch 
into overdrive. As the two battled 
£own the stretch, the- brilkkantg,- 
uau then coolly changed his -whips? 
from right to left hand, and the??, 
son of Exclusive Native duly&- 
hung on to-ttae rails. 

winning time was 2 mins^S - 
30 4/5ths secs, the third fasted* 
He [mop t on record. DarbyCreeto?- 
Alydar 1 *™ 1, lengths behSd^: 

has now won' 

IB starts and Tiiisf: 
earned *1,133.807, the most for? 
a toree-year^id at this stage oftj 

$110,580 on Saturday. ‘ . 'xfi 

Affmned was the 3^ favoirffe,^^ 
d ^. r started at evens,. and tha-t-.. 
attendance was 65.417. . .wnb^ . 


was 65,417,. . wao,f 

roared the two horses 
the way through: the: 



11 


f ?k !a 
f *r a \ ^ ■ 
a the 

{***!£ 

!■ ann !«q 


ViS 


•«* seufr 

'■'-1 ■ 

r&$/ 

"W 


.Ian 

*4 s 


ah 


!>&d trr. *! 

:- in £asl a g 

, n ** anS 


^S 13 ^ 


-- aT «K t; , 

Si, Jw* 

• • lI "fees, 
.Juni ao? J. 

57 n *»S 

J, " n he kg 
Jerri 

* Pi*' 


’.tt_-.-?aij! id sj, 

! : >' h f 

* ‘ r ‘trrjstt» 


'•I'-T li.,. 


*-? ri*. 


- "■£' ; 
• ••''••■ n-c*» 
■■’■ T::-r 




V. 1 " ., . 

•■' ^ :r 


•;;• •"• ’••it 
•■■"■.- :rv • -r 


■ • j 


■ •>:• v 


i' r • ? r p32 

•• •.“•icr.j::’? 

3??.i 5f¥i 


•• *».. . 


;-*■. r-. 


','i 


;,r ■• :.:c 

Lt.'j." 


lylxo ?*'*. -'•J 
r.K- ••'• : ^ V’ 


■» -r.-: 




~ : :; ; T&anfial 'Times Monday June 12 1978 

Ctoi3l Church, Spitalfiekis 



by ANTHONY HICKS 


Tbe Festival; of Early Music 
at- Christ Chorch,. SpilaJfields 
ended splendidly with an assured 
and- thrilling ■ performance of 
Handel b Sowf, under the Pesti- 
: val director Richard Hickox. it 
was not complete, but the cuts 
were senstble. The first collabora- 
tion . of Handel and his most 
effective oratorio librettist 
Charles Jennens betrays some 
of- toeu- inexperience in dealing 
trim;- an entirely new musical 
Torn- Jennens tried to put too 
mnen m,- especially in Act 1, and 
=was, nnaWe to develop all the 
material, in the opening scenes, 
for .^sample, the character of 
Sai^s haughty daughter Merab 
makes an excellent foil to her 
tenderer sister Micbak Later 
Jennens wanted to show her be* 
■winlQ? reconciled to the 
“plehian " David l n the face of 
■ heriaffiert insane jealousy; but 
despite much re-jigging Q f vyords 

and musical resettings in the 
months ' between initial com- 
poation and the first perform- 
ance -in January, . 1739. neither 
composer - or librettist ever 
wowed it -out property. 

Hickox* decision to drop 
Merab -after her first two airs 


was well justified, as of course 
was . the removal of the redund- 
ant High Priest The loss of 
Michal's first air (“0 god-like 
youth,” important for establish- 
ment of character) was regret- 
table, however, and 1 particularly 
missed Jonathan's fine scenn 
"Oh filial piety” near the end 
of Act 1. in Act 2 the only signi- 
ficant loss was Michel's “ JVo, let 
the guilty tremble” (we had 
most of the often omitted David* 
Jonathan scene) end Act 3 was 
rightly given complete. 

In tbe absence nf a satisfac- 
tory printed edition of Saul 
Hickox steered a commendably 
careful course between the inade- 
quacies of those that do exist: 
the one notable- error was 
“ Along the . monster atheist 
strode.” indicated in all editions 
as a trio and sb sung; it should 
he a chorus, without sopranos. 
This aside, the . performance 
showed overy : sigu of 'thoughtful 
preparation. . The great scenes 
which depend on the cumulative 
effect of successive solos and 
Choruses were handled most ira- 
presslvely, ' the! - , dramatic 
momentum never flagging, i had 
some reservation about the plain 


recitative. This was accom- 
panied. correctly, by harpsichord 
and cello (double bass also on 
occasion*), and tbe basy notes, 
again correctly, were not 
sustained for their full length. 

But final cadences were 
delayed until the voice had 
finished, a practice we now know 
to be the exception rattier than 
the rule, and Hickox conducted 
the recitative throughout with 
the resuk that some soloists paid 
loo much attention to the written 
rhythms of the notes. There was 
no trace of stodginess elsewhere; 
even at slow tempos — the key 
lest of a Handedian ! — Hickox 
kept the pulse firm. The big 
sinfonlas were strong and gutsy: 
written dynamic contrasts were 
nicety pointed, unwritten one 
were apt. 

There is some puzzle over what 
voice Hundel had in mind for 
David; though sung at some early 
performances by a counter-tenor, 
it is more likely to have been in- 
tended for a female mezzo. If 
a counter-tenor is used, as here, 

it is hard to imagine any im- 
provement on the excellent 
Charles Brett: he avoided strain 


on the higher notes hy taking 
them very lightly, leaving him- 
self with plenty of tone fur the } 
final lament, must movingly j 

sung. David Thomas (Saul) 
occasionally overplayed the ! 
drama at the expense of the; 
music, while ftlariyn Hill j 
(Jonathan) did the reverse; hut 
both sang with commitment and 
style. Margaret Marshall sac; 
Merab's shortened rule with tire 
and the airs in I he elegy with 
just the right intensity. Eliza- 
beth Lane was an acceptable 

Michal. but might have been a 
little more melting. 

The chorus were l wo of Hickox' 
many vocal legions, tbe St. 
Maraget's Westminster Singers 
and the Wooburn Singers, alert 
and tonally balanced, but per- 
haps too numerous (about 60 for 
the acoustics of Hawksmoor's 
pile. At full stretch they 
swamped everything but the 
brass and sounded too intense, | 
even from a seat half-way back. 
On the other hand voices and 
Instruments in the solus pro-] 
jecied clearly. It should he 
worth trying a chorus of true 
Handellan size (16-20) on 3 
future occasion — perhaps next 
year’s Festival at Christ Church’? 



Bach Festival at Versailles 



Elizabeth Half 


Beaux Arts Trio 


bv DOMINIC GILL 


The Beaux Arts Trio are not 
merely America's finest piano 
trio, but one of the great 
chamber ensembles of the world. 
It is no inflated praise to com- 
pare them to (he great ensembles 
of the pasl. to whom they are 
natural heirs-— the trios of 
Thibaud-Casals-Cortot and'Rubin- 
stein-Heifetz-Fcuennann. The 
Beaux Arts' appearances in Lon- 
don these days are far too rare 
—but their recital yesterday 
was both confirmation and com- 
pensation of a kind: an evening 
of pure delight from start to 
finish. 

They began their programme 
with the late Haydn C major trio 
(No. 27). striding out in the 
first movement with a fine, 
resilient spring, warming the 
andante with gentle contrapun- 
tal conversation, throwing off 
the finale as a sparkling tour de 
force, brilliantly led and sus- 
tained by the pianist Menahem 
Press ler. The Haydn C major 
has always been one of the 
Beaux Arts’ special party-pieces; 
and they have long been cham- 


pions too of the Mendelssohn 
trios, still both inucb-negiccted. 
Their account of the D minor 
trio was a marvel of fire and 
suppleness, of flexibility of 
phrasing and easy rubato: the 
andante touching above all for its 
simplicity and economy; the' 
finale, taken very fast and light, 
an insistent, mesmerising play 
of light and shade. 

The Beaux Arts ended with 
Schubert's B flat trio: a miracu- 
lously whole and coherent per- 
formance. illuminated on every 
page by flashes of dark and lov- 
ing poetry. The andante and. 
Rondo especially showed their, 
greatest quality: a freedom tri 
indulge in quite extreme indivi- 
dual as well as collective rubato 
— in this sense they are an “old- 
fashioned" ensemble — without 
any loss of clarity nr the least, 
hint of expressive strain. The 
four movements emerged as a 

single span, delivered without 
hesitation: gripping unanimous 
argument, fresh and buoyant, 
not one gesture hollow, nor one 
essential note false. 


Festival Hall 


by NICHOLAS KENYON 


Rosalind Plowright and Charles Metcalfe 


Lcvnunt Hurt 


• If she eyer thought that New- 
castle lacked coal. Lina Lalandi 
would he the first to organise a 
spectacular - procession of 
decorated, trucks,- carrying the 
stuff northwards as quickly as 
possible. But as she is in the 
music , business and not the fuel 
trade. Miss Lalandi has done the 
nearest thing: she has observed 
that France does not know how 
to stage French baroque opera, 
and she has exported her own. 
unique version of that genre in 
an. attempt to . show them what 
can be done. 


did more than justice to 
Ratneau’s tragic music: Carolyn 
Watkinson (who so impressed 
Malgolxe’s Rvutido) as 


It is a happy chance that, just 


lappy < 

as she was beginning to explore 
this important and neglected 

• area of baroque music. Miss 
Lalandi established a fruitful 
collaboration with the Versailles 
FestivaL This may mean that 

. England — and Oxford in particu- 
lar— -w ill see less of her enter- 

• prising ventures in the future, 
ptit.it also. means that she now 
has/ at her disposal one of the 
few theatres in which French 
baroque opera can be convinc- 
ingly staged. 

-• Last Wednesday and Tburs- 
day. the English Bach Festival 
presented Rameau’s Tmgidie 
Ivrique Hippolyte et Aricie in 
the Qpdra Royal of the Chateau 
in: Versailles. This lavishly ela- 
borate mid-18tb -century theatre 
- has some of those indispensable 
qualities associated with baroque 
opera: it is. small, .but the stase 
is quite as big as the auditorium: 
ho- drapes interrupt ' the - flow- of 
' sauna- from, stage: to audience, 
amt no balconies ovethang any 
bit the Ittlditorlihh:' Thus the 
Tsomrd-quaBty is piercingly-direct 
and faithful; no tmdue projee- 
. iron is needed on the part Df the 
singers. The orchestra pit has 
been- lowered- slightly, so the 
balance there is less satisfac- 
tory than- it would have been— 
sfill. there' -is zro feeling of 
Hie accompaniments - emerging 
from .the^ depths; the ' playing 
sound rfulVbodied, clear, and - can 
'co-ordinafe directly ‘with the 
singers. V. ;• 

The mixture ' which Lina 
Lalandi ■■ concocted in this 
Hippolgte was .. 'extraordinary. 
The ingredients included the 
French' conductor- Jean-CIaude 
M algo ire, who s ha£ directed pre- 
vious Rameau ..revivals for the 
Festival, and a band which- com?' 
bin ed -. English. and French' 
players'pf authentic instruments. 
Tbe ca^c.^wais'.very atrong, and 


Ph&dre conjured tip a terrifying 
tumult of passion in her Act 4 
lamentation, while Jan Caddy’s 
nobly lyrical utterances a* 
Th*s6e in Act' 2 'provided the 
evening’s most moving. moments. 
In tbe slightly unrewarding 
name parts, lao Caley and 
Marilyn Hill Smith both bad an 
even, warm flow, and coped finely 
with the tessitura; -..in .relatively 
minor roles, tbe splendid John 
Tomlinson and Eiddwen Harrby 
shone out. 


But though the singing was 
tbe most distinguished aspect of 
this performance, it was not the 
most unosual. Patrons of the 
London Festival will. know that 
Miss Lalandi has recently been 
reviving, in collaboration with 
the experts (whdm ^sbe always 
seems able to locate), the art of 
baroque dance. The formal move- 
ments and restrained, graceful 
hand gestures pf Belinda 


Quirey's young dancers have 
looked slightly strange in their 
splendid isolation, when sur- 
rounded by conventional acting 
on stage. For this Hippolyte 
Miss Lalandi not only employed 
Miss Quirey and her dancers 
but did something to bring tbe 
acting into line with what Is 
known of baroque practice. The 
results, as directed by the Ameri- 
can scholar Dene Barnett, are 
fascinating. 

Gestures of fierce, small-scale 
rigidity dominate the action. A 
sudden hand gesture, an out- 
stretched palm, or (even more 
effective in this small space) a 
flash of the eyes is enough to 
convey tbe deepest emotions. At 
times puppet - like in their 

schematic symmetry, these 

actions have all the immense 
power of a ritual language: they 
typify the controlled passion 

which lies bubbling beneath 

every bar. of Rameau's score. 


I do not know how much of 
all this will be visible on July 
2 when the English Bach Festival 


brings its Htppolple to the vast 
auditorium of Coveol Garden, a 
house which can soak up all 
subtlety of voice, playing and 
action within three rows of the 
stage. Miss Lalandi will not be 
able there to rely on the per- 
manent baroque set of the 
Versailles theatre: 1 hope she 
provides some solid scenery 
(though authentic baroque 
machinery will have to wait for 
another year and a subvention 
from some millionaire with a 
Sun King fixation). I hope too 
tha - Malgoire tightens up the ex- 
pressive playing of his orchestra 
and the lusty singing of his 
chorus. Given all this, the Coven l 
Garden audience may expect a 
revelatory account of this mar- 
vellous opera; in particular, lam 
sure that Hr. Barnett's baroque 
gestures mark the first step along 
a very important new path — as 
exciting a development as tbe 
revival of old instruments. Little 
by little, we are moving closer 
to tbe true spirit of baroque 
opera. 


Riverside Studios 


Pittsburgh Symphony 

by DOMINIC GILL 


Cost fan tutte 



In an Oxford college garden, 
one summer morning during the 
First World War. two under- 
graduates sit discussing their 
essays with an elderly tutor. 
Two pretty girls walk by. ex- 
changing glances with the young 
men. The Mozart overture ends 
and Peter Knapp's u p-dated 
version of Cmi fan tutte. given 
two performances at the River- 
side Studios last week, gets 
under way. The aims of the 
production are first, to entertain 
and second, to prove that opera 
can perfectly well fit on tbe open 
stages of unconventional 
theatres. Both aims, in my 
opinion, are wholly successful. 

With the orchestra to one side 
of the acting area, the proxi- 
mity of singers and audience to 
eacb other forges a bond of 
sympathy between them.. From 
the outset relationships really 
matter. When tbe young men go 
off to tbe Front clad in khaki 
greatcoats, our hearts bleed for 
the girls left behind. The suitors 
reLurn as turbaned Indians, and 
Mr. Knapp has made a new 
translation to accommodate the 
text He has also made some 
cuts, mainly of arias, that speed 
up the action, but which leave 
one nr two awkward musical 
gap9: 

Thomas Lawlor. an urbane 


Don Alfonso — bis title becomes 
an appropriate pun — rules the 
stage with tbe practised mastery 
of the pedagogue. Susan Varley, 
a figure straight out of Upstairs. 
Dotcnsfoirs. makes a beguiling 
Despina. Her disguises, as a 
doctor addicted to electric gal- 
vanism and as a plummy-voiced 
Anglican chaplain, are adroitly 
done. Rosalind Plowright sings 
Fiordlligi with admirable firm- 
ness of tone. Tbe only character 
allowed to retain more than one 
aria, she is also the one who 
benefits most from the period 
change. One can imagine her 
militant suffragette chained to 
the House of Commons railings. 

The gentler, more malleable 
Dorabella smoothly played and 
sung by Eirian .Tames offers 
only token resistance before 
succumbing to her new lover. 
Charles Metcalfe, a prosaic 
Ferrando, seems happier in comic 
than in romantic situations. 
Robert Carpenter Turner, though 
left without any solo, makes a 
credible, serious Guglielmo. The 
standard or ensemble, despite an 
almost complete lack of contact 
between singers and conductor, 
is excellent and Stephen Barlow 
obtains stylish, if not always 
highly polished, playing From the 
New London Chamber Group. 

ELIZABETH FORBES 


Next week Andre Previn 
celebrates his tenth anniversary, 
| as well as his penultimate season, 
before he hands over next year 
to Claudio Abbado as principal 
conductor of the London 
Symphony Orchestra. But the 
LSO is no longer Previn's only 
band; two years ago be suc- 
ceeded William Steinberg as 
music director of the Pittsburgh 
Symphony Orchestra. It was an 
I apt chance that brought Previn 
and his new orchestra to London 
last Friday for 'their British 
debut on the last leg of a 
European tour. 

The Pittsburgh are a lively 
ensemble: the attack is quick 
and strong, the string-tone 
punchy, with plenty of reserve: 
the wind sections, both wood and 
brass, are at times more 
enthusiastic than fine-grained, 
but unfailingly responsive and 
warm. Their programme, under 


Previn, of Brahms' violin con- 
certo and Mahler's fourth sym- 
phony made a remarkably satis- 
fying evening. The symphony 
above all: set by Previn in a 
firm, flexible frame of forward- 
moving tempi that kept the 
momentum of each movement 
alive, carefully detailed, sweetly 
Jyrieal. but never mannered — a 
reading of impressive directness, 
simplicity and authority. 

The soloist fnr the finale was 
Jill Gomez, in radiant voice, 
luminous in her closing pages: 
The violinist in the Brahms con- 
certo was Kyung-Wha Chung, on 
her most pungent form: a per- 
formance more fierce than noble,, 
f list spoke more of fire and. 
violence than poise and elo-. 
quence, but all the same of mar- 
vellous drive and clarity. Even 
her adacio seemed tungsten- 
tipped; the finale, a fast and. 
robust giocoso. was spun off in 
high good humour, mor-sbarp.. 
Splendid concert 


‘The Artist's Eye' — Richard Hamilton 


Richard Hamilton, the British 
painter, is organising an exhibi- 
tion at tbe National Gallery 
called The Artist's Eye. It will 
open to the public on July 5 
and continue until August 3. 

It will include his painting/ 
collage M u Marilyn (1965) which 
features Marilyn Monroe, and a 
personal selection of pictures 
from the National Gallery Collec- 
tion. The Arts Council film 


Richard Hamilton will be shown, 
at 4 p.ra.. Monday to Friday,' 
throughout the exhibition. 

This is the second in the series 
of The Artist's Eye exhibitions- 
in which a modern artist is 
invited to make a choice of.- 
Gallery' paintings to be displayed 
with one of the artist’s own 
works. The series was in-', 
augurated by the sculptor - 
Anthony Caro in 1977. ■ • 


rf, S : .u •.«*. ■ ' 
■t&i • :•> ' 




r i ,- -vFip' 


Costumes based on 18th-century JFrenrii designs by Boquet, recreated by Derek West for the English 
Bach Festivals performance of Rameau’s * Hippolyte et Aricie * 




Lyons Concert: Halts University of York 


by NICHOLAS KENYON 


’ :, The clinical atmosphere of ibfe- 
Lyons Conceit Hall Is softened 
by ■ thfc "insidious odour of: joss 
sticks;" in a pool Of red light, a 
FelUniesque cardinal pounds an 
electronic- organ- A. girl, is led' 
info’ the darkness. She strips. The 
sfage ls revealed as her- boudoir, 
peopled' by . masidans. The gfTI, ; 
siding: languorously :tbe .white, 

' submits to beast-like percuS- 
. sioqisr .on .her t bed. ..‘.An aristo- 
crau&'iaiitist seduces ’ a wierd 
ct^tarti’oemtre stager the musk 
cianfr' joln the_drgy, -one of them 
establishing-^ , unusually close 
rel'atihhshfp' with.-" his -cello.' 
HyStje^ gTO^ bktil a- pnritanl- 
caT- member of the 'audience (in 


ihe pay of the National Viewers combination of Sade's fan- 
and Listeners Association'H.,ta s j ef ,) sang with delicious 
rushes oil' .stage, sweeping J“?:taoodiiiess, the student must- 

ciMbS Mt'Slfiaed. vetoed to up 

as -a wind trio play a sfaort,ratiiertban indulge m Bussotos 
sensual meditation. She joins id;: baroque decadence. Real music 
and the tights fade. . . reared its sober bead only once 

Such is- in • .outline of the . or twice— the final trio was very 
sexual sensationalism, of Sylvanoj weB done — but otherwise Henry 
Bussotti’s La Passion selon Sqde^Brown’s role as conductor was 
ghrea a rare performance by iA».£rmly subordinated to bis -role 
York University group Anemorie.jas. producer. His stage team 
on Friday., t cannot say I felt- (Julia Hodgson, Stepban Brown, 
overcome' by, eroticism: the open^Jcrim James and Christopher 
hilarity -of the Professor. Of. -JSarton) succeeded in creating 
Music during the cello sequence 1 ah- effective spectacle of self- 
didut help and though Teresa indulgence, if not a convincing 
Lister (as : the Jastin/Juliette , slice "of sadism. 


There was more satisfaction 
if less amusement, )□ the con- 
cert's first half. Berio's uncom- 
monly coherent Labormtus 2 
was given ao assured perform 
ance under Anthony Powers, 
with three white. Laura Ashleyd 
sopranos and a chorus of 
babblers commenting vigorously 
and atmospherically on Steve 
Stanton’s somewhat unidiomatic 
declamations from Dante. An 
evening which proved the con- 
tinued adventurousness of York 
University's music department; 
accomplished music - making 
appreciated by a substantial 
audience. 




Elizabeth Hail 


^ - 1 
i .If*' 


JT- - 1 ’. -* u’ l 



by DAVID MURRAY 


'piano recital all its fitful ' 


y esteSay- af^rnoon began, and exacerbated harmonies; 

— ' — *L j , ni.ninimw: V7PT& 


iS-'-'^Where loner parts carry some grief-laden or slow. (There’s no 
:Ws; rhythmic • energy Eschenhach reason to assume that it must 


en^c(-^fith~'W^l : toved ‘Beethoven gr^ned pianissimos were 


nerii ««ns content to give a general have meant something different 
,p r n F effect: be flicks at them, or just “ to a Russian composer at the 

U* ■ . - . _. i,., and ths IQth Mntnnr ” moral*.- 


SPMt^^raanbfceaxly Schumann; jj^jy intense, and the pow« D J Skitters The Sr* 11 ""”"* 1 pieces end of the 19th century,” merel;, 

Stalins V- that though on acroum^of Chaikovsky: when 


a.*;. 

' ' ' t’ Vi +?J w 

. * 


voices ■ so - 



confiding lyrical tone was Skryabin i wrote “ pateiieo." as he 
held. Schumann's often did. it was rhetorical pas- 
» - - — •»->- u -i *ho •* Ahpi— f* ” Variations rion he had in mind.) Escben- 

of th« 

tiin - Quick * Mlj aHpn i flumes m and an extreme rubato in 

.^qulck- variations but its ^ opening G mve: the Adagio 

nssst atria cantabile was sweetly restrained. 
-B^and someofite the Rondo wan and ambiguous, 

jokes were too limply turned to * . , 

Cticfc lie rarely heard Allegro Finally, the Waldstein • 
In B minor, op. 8, was given a Sonata was less a business of 
fijah overall shape — no easy relentless energy than of con- 
matter, for despite its origin in a*™ous anxiety, less driving than 
an intended sonata Its design is an 'nteresting and con- 

odd and .elusive: a welcome ^nt reading, with the second 
resurrection. Ail the same, one subject skilfully managed so as 
cSS St banish the thought that to ™ er f Slo^S the 

Schumann's piano writing was ! , * rv £ l | | s U th^ F Fin'ilr 

Tmiohor « n wK Tbe pre face to the Finale 

planned for tougher fingers. nj expJored j n 5 t;i] suspense. 

. Gerald learner’s programme- and Escbenbach sustained the 
notes have been a consistent worried, provisional feeling rar 
pleasure ' in the current South into the Rondo itself. Probably 
Babk Piano Series, and this time he aimed at scintillating confid- 
he drew upon Rousseau for clari- cnee In the Prestissimo, but the 
ficafion of what Beethoven uneven flicker of his semiquavers 
.would have understood by compromised any such effect, 

• when he applied it Not a misfire, exactly, hut it made 

~ l tO. his ' op. .13 Sonata: epicallv a strangely qualified conclusion, 
emotional, but not necessarily a tentative triumph. 


EMERMINMENT 



cc — Th«e ttieatm act-Pt certain creait COMEDY. 


cards tv telephone or at the ho* aflice 

OPERA & BALLET 

COLISEUM. Credit cards 01 240-5258. 

Reserrauons 01 816 - 1181 . 
LONDON FESTIVAL BALLET 
Tomorro**. Wed- Thur. & Frl. at 7.3D: 
Lcs SvlBhides, Greening mew production!. 
Scneherazaae Sat. 41 3 & 7.30: Conserva- 
toire. Gi'seiie. 96 Bar-ociv seats avaitaole 
irom 10 a.m. on dav oi oerlormance. 


COVENT GARDEN CC 240 1 066. 

■Gardencharpe credit cards 836 69031 
THE ROYAL OPERA 
Ton't at 6-M: Tristan imd Isolde. iSpas 
WcnKOrf replaces John Vickers). Tomar. 
A Fri at 7.30 r» istatf. Dipr. as 7J0: 
Ripolcltd iKraus replaces Dvorskei. Sat. 
11 7 30 Madam a Bunerflv. 65 Amotii 
seats ivall. lor all peris, from 10 a.m. 
on dav ot perl. Note- PersonahTel t*9s. 
lor Julr Baita* opens Julr 1 & not June 1. 


GLYNDEBOURNE FESTIVAL OPERA. 
Unt.i Aug 7 with :hc London Philhar- 
monic Orches ra. Wed. Fri. & Sun. at 
s 50* Don Glnvannt. Thur. & SaL at 5.30* 
D'c ZauDnrBdie Possible returns onlv. Box 
office Givndenourre. Lewes. E. Sussex 
10273 4124111. 


ROYAL COURT. T30 1746. Air cond. 

Press. Irom Wed. at a. Onens June 20 
at 7. Suh*. ever 8. Sar. 5 A 8.30. 
FLYING BLIND 
Bv Bill Morrison. 


01,930 2578. 


Evening 8.0. Thur. 3.0. Sat. £.30. 830. 

MOIRA LISTER. TONY BRITTON 
Margaret COURTENAY. Dermot WALSH 
THE HIT COMEDY THRILLER 
MURDER AMONG FRIENDS 
” Blackmail, armed rc hbery. double bltrtl 
and murder." Times. “ A good deal oi 
hm.” Evening News. Last Week. 


CRITERION. 930 3215. CC 835 1071-M 
Cvenlngs 8.0. Sacs. 5.30. 8-30. Thors. 3.0. 
NOW IN ITS SECOND YEAR 
LESLIE PHILLIPS 
In SIX OF ONE ' 

" HALF-A-DOZEN LAUGHS A MINUTE. 
VERY FUNNY.” Son. Tel. 
SECOND HILARIOUS YEAR 


NATIONAL THEATRE. 928 2252. 

OLIVIER ropen stage): Ton't at 7 mote 


early Mini BRAND by Ibsen In a version 

' “ _ Tfl 


tomorrow at 7.30 


DRURY LANE. 01-836 BJ08. Srer* 
nioht 8.00. Matinee Wed. & SaL 3.00. 
A CHORUS UNt 

•'A rare, devastating, lovous. astonishing 
scunner." Suodav Times. 


DUCHESS. 836 8243. Mon. to Thnra. 
Evenings 8.00. Fri.. Sat. 6.15 & 9.00. 
OHJ CALCUTTA! 

The Nudity B stunning.'- Daily Tel. 
Bth Sensational Year. 


SADLER'S WELLS THEATRE. Rosebery a re- 
EC’ . 837 1672. Last Week. Ergs. 7.30. 
Sat Mat. 2.30. 

GONG 5AWAN 
Music and dances irom Ball. 

’• the experience not to be missed." 
June 19 to July 1. FIESTA DE ESPANA. 


THEATRES 


ADELPHI THEATRE. CC. 01-836 7611. 
Evas. 7.30. Miu. Thurs. 3.0. Sats. 4.0. 
IRENE 

_ THE BEST MUSICAL 
OF 1976. 1977 ano 1978 
IRENE 

■•LONDONS BEST NIGHT OUT.” 
Sima*. People. 

ALREADY SEEN BY OVER ONE 
MILLION HAPPY THEATREGOERS. 
CREDIT CARO BOOKINGS 856 7611. 


ALBEKY. 836 3878. Party Rates. Credit 
card bugs. 836 1971.2 from 8.30 a tn- 
8.30 r m. Mon. Tun, Wed. and Frl. 
7. pm. Thurs. and Sal. 4.30 and 8.00. 
" A THOUSAND TIMES WELCOME IS 
LIONEL BART'S 

MIRACULOUS MUSICAL." Fin. Times. 

OLIVER 

With FOY HUDO and JOAN TURNER. 
•■CONSIDER YOURSELF LUCKY TO EE 
ABLE TO SEE IT AGAIN.” Daily Mirror. 


ALDWVCH. 836 6404. Into. 836 S332. 
ROYAL SHAKESPEARE COMPANY In 
rercrro'te Totnof. Wed. 7.30 Low price 
orer'C* Stnndoero's THE DANCE OF 
DEATH. With Shakespeare's CORIOLANUS 
men perl. 22 June! RSC also at THE 
WAREHOUSE see under W> ano at the 
Piccadilly Theatre In Peter Nichols 
PRIVATES ON PARADE. 


ALMOST FREE. 485 6224. ” One Ott " 

by B-io Wilson. Toes.-Sat. 1.1S ».«»■ 
Suns 3 00 & 5.00 p.m. No thaw Mont 


AMBASSADORS. 01-836 1711 

tl.ctiiiy at 8.00. Mat. wed. 2.45. _ 
PATRICK CARGILL and TONY ANHOLT 
_ I" SLEUTH 
■ he World-famous Thriller 
Or ANTHONY SHAFFER 
•'Seeiifl the play again it In fact an 
utter ana total lov " Pancb. Seat Prices: 
E 2 00 to £4.40. Dinner and Too.PHce 
Seat £7 -SO. 


APOLLO 01 -4 37 2663. Evenings 8.00. 
Mats Thurs. 3.00 SaL 5.00 and 8.00. 
□ONALO SINOEN 
-Actor ot the year." Ev. Standard. 

” IS SUPERB " N.o W. 

SHUT YOUR EYES AND 


THIN; OF ENGLAND 

* Wickedly tunny." Times. 


ARTS THEATRE. 01-836 2132. 

TOM STOPPARD'S 
DIRTY LINEN 

“Hilarious ... tee IL" Sunday Timet. 
Monday to Thurtdiv B 30. Friday ««d 
Saturday at 7.00 and 9.15. 


ASTORIA TWFATRE. Charing X Rd. 01-734 
4291 Mon-Thurs. 8 o.m.. Frl. A Sat. 
6.0 i 8.45 
ELVIS 

•• mtiY'iOUS. appealing, toot-nomplng and 
heart-t^vinnlno" Observer. Circle nultet 
Open ni'lore and alter chow. Seals £2.00- 
£5 00 Hall-hour before thov* best a»ail- 
ab'c teats £3 00. Mon. -Thur*. & Frl. 
6 o.m- tterl onlv. Dinner and too. Price 
Seal £9.00 Inrl 
Bm MU5ICAL OF THE YEAR 
EVENING STANDARD AWARD 
Lunchtime Tbeatrg dally at 1.15 P.m-. 
jun- 12-23 "A SLIGHT ACCIDENT.” 


CAMBRIDCE. 836 BO 56. Mon. to Thurs. 
S DO. Friday «afu*yu v S.4S and 8.30. 

IPI TOMBI 

f< Citing Black African Musical. 

The alrk are beautllul. hare and 
iWJKPSv S Mirror. 

THIRD GREAT YEAR. 

Dinner and top-one >■ seat £8.7 S tiKL 


DUKE OF YORK’S. 01-856 5122. 

Evenings 8.00. Mat. Wed.. Sat. 3.00. 
JOHN GIELGUD 
in Julian Mitchell s 

A NATIONAL THEATRE PRODUCTION. 
HALF-LIFE 

" Brilliantly witty . . no one should 

miss It. Harold Hobson i Drama ». Instant 
credit card reservations. Dinner and 
Top-price seat £7.00. 


FORTUNE. 836 2238. Eii. 8.00. Thurs. 3. 
Sat. 5.00 and 8.QD. 

Muriel Pa»low» as MISS MARPLE In 
AGATHA CHRISTIE S 
MURDER AT THE VICARAGE 
Third Great Year 


GARRICK THEATRE. CC. 01-836 6404. 
Evs. 8.0. Mat. Wed. 3.0. Sat. 5.30. 8.30 
TIMOTHY WEST. GEMMA JONES 
MICHAEL KITCHEN 
In HAROLD PINTER’S 
THE HOMECOMING 

BRILLIANT A TAUT AND EXCEL. 

LENTLY ACTED PRODUCTION.” D. Tet. 
“AN INEXHAUSTIBLY RICH WORK.” 
Gdn. "NOT TO BE MISSED." Times. 


GLOBE THEATRE. 01-437 JS92. 

Eves. 8.15. Wed. 3.0. SaL 6.0. 8.0. 
PAUL EDDINGTON. JULIA MCKENZIE 
BENJAMIN WHITRCJW In 
ALAN AYCKBOURN-S New Comedy 
TEN TTME5 TABLE 

"■ This must be the haooiest Mupnter- 
m»kcr In London.*" D. Td. "An Irresist- 
ibly enjoyable erening." Sunday Times. 


GREENWICH THEATRE. 8S8 77SS. 

the golden cradle 
P rev. Torn or 7.50. Opens Wed. 7.0. 
Sub eves. 7.30 Mar. Sat 2.50. 
Plavs by Yeats Synge and Lady Gregory, 
For 2 Weens Only 


HAYMARKET. _ 930 9832. 

Evs. 8. Wro. 2.30.. Sat. 4.30, 8. 
INGRID 8ERGMAN 
WENDY HILLER 

DEREK DORIS FRANCIS 

GODFREY _ HARE CUKA 

WATERS OF THE MOON 
Must deft nl rely close July 1. Bo* once 
now open lor our new production. P»i 
July 4 and S at B.O. Opens Joty 6 at 7.0. 
PAUL SCOFIELD 
HARRY ANDREWS 
BRON PEACOCK 

and IRENE HANDL In 
A FAMILY 


HER MAJESTY'S. CC. 01-930 6606. 
Evenings 8.00. Mats. Wed. ft 5aL 3,00. 
BRUCE FORSYTH 
In LESLIE BRICUSSE and 
ANTHONY NEWLCY’S 
TRAVELLING MUSIC SHOW 
with Deret Griffiths. 

Directed bv BURT SH6VCLOVC 
" It Is Packed td bursting point with the 
personality and sheer energy ol Bruce 
Forsyth." Sun. Express. " The audience 
cheered.” Sunday Telegraph. 


KING'S ROAD THEATRE. 362 7488. 
Mon. to Thurs. 9.0. Fri.. Sat. 7.30. 9.30. 


THE ROCKY HORROR SHOW 
NOW IN ITS 


Sth ROCKING YEAR 

The GREAT ROCK 'N' ROLL MUSICAL 


LONDON PALLADIUM. CC. 01-437 7373. 
Mon.. Tues., Thurs. and Fr], at 8. Wed. 
and Sats- at 6-10 and B.S0. 

THE TWO RONNIES _ 

In a spectacular Comedy Revue 
ALSO SPECIAL SUNDAY PERFS. 


Sundays June 25 and^Julv 16 M 5 ft_8- 


Soeclal Booking Hotline 01-437 2055. 


LYRIC THEATRE. CC 01-437 3686. 
Ey. 8.0. Mat. Thurs. 3 0. S»L 5.0 ft 8.30 
JOAN PLOWRIGHT 
COLIN BLAKELEY 
FILUMENA 


MAY FAIR. „ CC. 629 3036. 

Frcs. 8.00. Sal. S.30 and 8-45. Last 
Week. GORDON CHATER '‘Brilliant” EN. 
In THE ELOCUTION DF 


BENJAMIN FRANKLIN 

/ St 


ay Sieve J. So ears 
" A compassionate funny fiercely donuent 
Dlar." Gdn. 


bv Geoffrey HI IL 

LYTTELTON Rprosccnium suoei: Ton't ft 
tomorrow at 7.45 PLUNDER bv Ben 
Travers. 

COTTESLOE (small auditorium •: Ton't. at 
8 JEWS/ ARABS (Workshoo productloni. 
Tomorrow at 8 Lost Worlds. 

Many excellent cheap seats all 3 theiira. 
day ol Perl. Car park. Restaurant 928 
2033. Credit card bkgs. 926 30SZ. Air 

Conditioning. 


OLD VIC. 926 7616. 

PROSPECT AT THE OLD VIC 
A Week ol Sundays. June 11-17 
at 7.30 p.m. 

Today. Fri.. Sal. Derek JacODl as Bvron. 
wttn Is La Blair, Julian Gio«ar. Harold 
Innocent THE LUNATIC LOVER ft THE 
POET r'May It last a thousand years." The 
Stagei. 

Tues.. Wed.. Thura. Derek Jacobi. IsU 
Blair, Julian Glover. Harold Innocent In a 
Selection ot Travellers' Tale* THE GRAND 
TOUR f a lolly show." Guardian.) 


ST. MARTIN'S. CC. 855 1443. Evs. B.M. 
Matinee Tues. 2.45. Saturdays S and 8. 
AGATHA CHRISTIE'S 
THE MOUSETRAP 
WORLD’S LONGEST RUN 
26th YEAR 


TALK OF THE TOWN. CC. 734 5051- 
8.00. Dining- Dancing (Bars open 7.15). 
9 JO Super Rente 
RAZZLE DAZZLE 
and at 1 1 R-m. 

LOS RCALES DEL PARAGUAY 


VAUDEVILLE. 836 9988. CC. Evs. 8.00 
. MaL Toes. 2.45. Sat. 5 and 8. 

Dinah SHERIDAN. Oukle GRAY - . 
Eleanor summerfiELD. James GROUT 
A MURDER'S ANNOUNCED 
THE NEWEST WHODUNNIT 
by AGATHA CHRISTIE 
" Re-enter Agatha with another who-, 
our nit h.t. Agatha Christie ts stalking tne*. 
West End vei again with another ol her . 
fiendishly Ingenious murder mysteries."' 
Felix Barker. Evening Newt. 
AIR-CONDITIONED THEATRE. 


■ uun l a ipuy snow, nuaroun.i VICTORIA PALACE 
SUNDAY AT TH^OLD VIC. JUNE 1«h . V J2?"-nw F Ma 1, 

THE OAY OF THE DEAD.' Graham Collier's 
jaot composition based on the writings ol 
Malcolm Lowry 

Prospect's TWELFTH NIGHT returns June 
19th ren outstanding rev nral." The Tlmes.i 
SAINT JOAN returns June 22nd a 
gn-ai periormance." The Times. i 


Book now. 828 473S-6. r34 '317. 

STRATFORD JOHNS 
SHEILA HANCOCK 
ANNIE 

Ergs. 7.30. Mats. Wed. and Sat. 2.45- 


PALACE. CC. 01-437 6834. 

Mon. -Thurs. 8.0. Frl. ft Sat. 6 ft 8 -40. 
_ JEMiS CHRIST SUPERSTAR 
by Tim Hue and Andrew Liovd Webocr. 


PHOENIX. 01-836 2294. Evenings B.15. 
Friday and Saturday 6.00 and 8.40. 
-TIM BROOKE TAYLOR. GRAEME 
GARDEN make its laugn." D. Mail In 
THE UNVARNISHED TRUTH 
TM 'Hit Comedy by ROYCE RYTON 
"LAUGH WHY 1 THOUGHT 1 WOULD 
HAVE DIED." Sunday Time*. "SHEER 
DELIGHT.-- E. Standard. "GLORIOUS 
CONTINUOUS LAUGHTER.” Times. 


WAREHOUSE. Donmjr Theatre. Cerent 
Garden. B36 6B0B. Roval. Shakespeare 
Company. Tomor. 8.00 Premiere product n, 
David Edgar’s THE JAIL DIARY OF ALBIC 
SACHS. All seats Cl. BO. Adv. bkgs. 
Aldwych. Student standby £1 . , 


WESTMINSTER. 01-834 02B3- 

SENTENCED 70 LIFE . i 

By MUGGERIDGE end THORNHILL 
"TRENCHANT HUMOUR.” D. Tckuraob..' 
"SHARPLY TOPICAL." Financial TVmeak 
"Tremendous Impact." NoW. ‘1* 
Evs. 7.45. Mat. Wed*. 100. Sat. 4.30. 


PICCADILLY. 437 4506. Credit Card bkgs. . 
636 1971-3. BJO a.m. -8. 30 p.m. 
Ergs. 7.30. Sat. 4 JO ft a. Wed. mats. 3.0 
Royal Shakespeare Company In 
THE OUTRAGEOUS ADULT COMEDY 
__ by Peter Nichols _ 
PRIVATES ON PARADE 
"Rlproarlng triurawi." S. Express. 

BEST COMEDY OF THE YEAR. 

Ev. Std. Award and 5WET Award. 

• FULLY AIR-CONDITIONED. 


WHITEHALL. 01-930 5692-7765^ 

Etos. 8.30. Frl. and Sat. 6.45 and 9.00.. 
Paul Raymond presents the Sensational 
Sex Revne ol the Century 
DEEP. THROAT 


PRINCE EDWARD. CC iTormerlv Ceslnoi 
6877. Red. .price previews. Tcdar 


01-437 

Tomor. A June 20: g.o. 5«- 5.30 and 
8 JO. Opens June 21. 

EVITA 

by Tim Rice and Andrew Lloyd Webber. 
With David Essex. Elaine Paige and Joss 
Atkland. Directed by Harold Prince. 


PRINCE OF WALES. CC 01-930 8681. 
Monday to Friday at 8 p.m. Saturdays 

x 5.30 aM 8.45. 

LONDON AND BROADWAY'S 
COMEDY MUSICAL HIT 
I LOVE MY WIFE 
starring ROBIN ASK. WITH 
-ah iiirr riiM 


'ALL JUST GOOD CLEAN FUN.’ 
CREDIT CARD BOOK jlNGS 930 0847. 


QUEEN'S THEATRE. CC 01-734 1166. 
Evss. 6.0D. Wed. 3.Qo, SaL 5.00. a_so. 
ANTHONY QUAYLE 
FAITH BROOK. MICHAEL ALDRIDGE 
and RACHEL KEMPSON 

in Alan Bennett'S 

THE OLD COUNTRY 
BEST PLAY OF THE YEAR 
Play and Players London critics Award. 
Directed by CLIFFORD WILLIAMS. 


WINDMILL THEATRE. CC. 01-437 6312. 
Twice Nightly 8-00 and 10.00. 
Sundays 6.00 and 8.00. 

PAUL RAYMOND presents 

RIP OFF _ ... . 

THE EROTIC EXPERIENCE OF THE . . 
MODERN ERA 

“Takes to unprecedented limits what Is: 
permissible on our stage." Eva. News. - 
3rd GREAT YEAR 


B*g&. 836 
8.30 p.m. 


WVNDHAM’S. 01-836 3028. Credit Card. 

836 1071-2 from 8.30 a.m. ter 
Mon.-Thurs. B. Frl. and Sab 
S.15 and 8.30. 

-■ ENORMOUSLY RICH 
VERY FUNNY.” Evening News. 

Mary O'Malley's smash hit Comedy - 
ONCE A CATHOLIC 
Supreme comedy on sex and religion. -- 
Dally Tefearapft. 

" MAKES YOU SHAKE WITH 
LAUGHTER." Guardian. 


YOUNG VIC (near Old vic-1 928 6363. 
Prevs. Irom Thurs. Eves. 7.45 Ben Jenson » 
BARTHOLOMEW FAIR 


CINEMAS 


ABC 1 ft 2. SHAFTESBURY AVE. 836 B86T.- 
Sep. Peris. ALL SEATS BKBLE.. „ 

1i GRAY LADY DOWN lAl. Wk, ft Suiy j. 

2.00, 5.20. 8.20 ilast 3 davsi. 

2: THE GOODBYE GIRL (A). Wk. ft Sun, 

2.00. 5.10. 8.10. 


RAYMOND REVUEBAR. CC. 01-73* 1593 J CAMDEN PLAZA (Odd. Camden Town 
At 7 P-m.. 9 P.m.., 1 1 p.m. i opens Sum.) | 455 2443. Brigitte Fossey In 


PAUL RAYMOND presents 

JHIival of 

EROTICA 

Fully air-conditioned- 
21st SENSATIONAL YEAR. 


LES ENFANTS DU PLACARD (A«. ' 
SOS. S.OO. 7.00. 9.05. 11.00. Final 
Week. Must End 15 June. 


REGENT THEATRE, 637 9863. 

Evgc. 8.30. Frl. and Sat. 7.0 and 9.0. 
"Elegant good-humoured engaging." Gdn. 
the club 
A New Mpskal. . 

“Caustic and Comic." Times 
.... - Sl ! aw sswes In songs." D. Tel. 
Linda Thorsen ... 1 revautwn." Times. 
" WELCOME TO THE CLUB." E.N. 


ROYALTY. Credit Cards. 01-405 8004. 
MondAv-THurcdav evenings 8.00. Friday 
5-30 and 8A5. Satwteys 3 00 and 8.00. 
London critics vote 
m BILLY DANIELS M 
BUBBLING BROWN SUGAR 
„ . , Best Musical of 1977. . 
Boekiims accented. Major credit cards. 
Special reduced rata for matinees tor a 
Mmlted period only. 


SAVOY THEATRE. 01-836 8868. 

Opening Tomorrow tom FONT I in 
WHOSE LIFE IS ITOMYWAY7 
with JANE 44HER 

“A MOMENTOUS PLAY? I URGE YOU 
TO SEE IT." Gdn. , . 

Ergs , ar 8 D O. Frl. ft ^ s.4Sft_8.4S ; | 

SHAFTESBURY. CC '" ' 


CLASSIC 1. 2. 5. 4. Oxford Street <OnP. 
Tottenham Court Rd. tubei. 636 0310. 

1 . Alan Bales THE SHOUT fAAL Progs. 

2.30. 4.35. 6.40. BAS. __ 

a. THE GODFATHER PART II (XL Progs. 

3 00. SiO feature 5.25. 7.15. 

3. Last 3 days* Walt Disney's JUNGLE . . 
BOOK (U>. WAHOO BOBCAT OH. Progs. 
130. 3.45. 6.00. 830. _ 

A. Bertolucci s 1900 P»ri 1 On. Progs. 

2.1 5. 5.15. 8.15. From Thun. Bertohicd's 
1900 Part 2 tX>. 


CURZON. Curzan StrecL w.1. 499 3737. 
PARDON MON AFFAIRE 00. 'English 
sub-titles). Frogs- »« 1.S0. 3.5S. 6.10 
and B. 30 . (No 1 30 ft 3J55 Prog, tumor.) 
last 3 DAYS. Fulhr air condMoneg 
oomlort. 


LEICESTER SQUARE THEATRE i930 5252) 
COMING HOME OCI. Sep. proas. Mon.- 
Sat. 1.30. 4.45. 8.10,. Sun, 3.30. 7.45 
Seats may be booked In advance lor 8.10 
prop. Mon.-Frl. ft all arogv Sat, ft Sun. 


CHlCH rC TrR. 0 , 4S 813,2 

Ter ant. June 14 & 15 sr 7. 00 . 

June 17 a: 2 00 
IN* tNrONSTANT COUPLE 
j u n.- !3 IE ft 17 a: 7.00. Jure 15 
at Z.qo, 

* WOMAN DF NO IMPORTANCE 


COMfO 1 *, WEA TRE. OT-930 2578. 

For * ltd. enoaganenr June 20 to July 16 
ALEC MCCOWEN'5 
57; MARK'S GOSPEL 
-Art unnaiy'leted tour de lorce." 5 1ml. 
Tues. to .. S;,e - - * 8 00 . Sun. at 4.30. 
No pH. Mondays. Tickets £1.25 to £3. 


MERMAID- 248 7656. Restaurant 248 
2835. Pre*. Tomor. Opens Wed. 7-50. 1 
sao. r-i-os. 7.30 ft 9.15 f 

TVERY GOOD BOY 
DESERVES FAVOUR ’ 

A m«.e lor actors and orchestra by TDM ; 
STOPPARD ft ANDRE PREVIN. Seats £4.1 
£3 ft £2. "A work o, true theatrical, 
genius." 5. Tune*. 


ODE ON HAYMARKET 1930 273812771] 
Jane Fonda. Vanessa Redgrave in a 
Fred Zlnncmann him JULIA 1 A 1 . Sen. 
progs. Dly. 2 SO. 5.45. 8.45. Feature 
,. . — -z- .. ?i efiS 5S;; Dlyl 2.45. 6.00. 9.00. All leatt BkblC at 

Shaftesbury Ave WC2 rhlah Hojborn endi theatre. 

tf5i ‘ JOHN^FARCXJN tn ***' ' ‘ 1 ODEON LEICEST ER SQ UARE <930 61 111. 

"Wj, Jlus, Cal has evereinina " S. MiY 
CREDIT CARD BOOKINGS 83b 6S97 


SHAW THEATRE. 


Opens ToniohT at 7.00 Sub. era*. 7 JO- ■ - ~ 


CLOSE ENCOUNTERS OF THE THIRD 
KINO (Ai. See progs. Dtr. Doors open 
1.05. 4 IS. 7.45. Late show Fri. ft Sat. 

. Doors open 11.15 B.m. All seats mi» be 

01 - jS 8 1394. . booked. 


I'M TALKiNg’aTOUt JERUSALEM^" : OnEpN_MARBLE ARCH <325 .2011121. 


OPEN AIR. Regent's Park. Tel. 486 24J1. 
A MIDSUMMER NIGHT'S DREAM 
Evgr. 7.4S. Mats. Wed.. Thurs. ft Sar. 
2.30 with RULA LENSKA. IAIN TALBOT 
ELIZABETH ESTENSEN. DAVID 
WESTON. HELEN WEIR. ANTHONY 
SHARP. 


bv ARNOLD WESKER 


STRAND. 01-B35 2660 Cwnliws B.00. 
Mat. Thurs. 2.0. Saturday* 5.30 and 8.30 
NO SEX PLEASE— 

WE'RE British 
THE WORLD'S GREATEST 
_ LAUGHTER MAKER „ 

GOOD SEATS £4.00-£1 50. 


THE BETSY iX». Sen. progs. Mon -Sat. 
1.30. 445. 8.1S. All seats bkblc except 
1.30 pert. Mon. -Sat. 


__ . c Sq, 4’ 

MEL BROOKS HIGH ANXIETY (AO. Sep, 
Perts. Dlv. 'me. Sun.i 2. 45. 6.15. 9.0Q 


Late Show Nightly 11.45. Seats Book- 
able. Licensed Bar. 






Jtfir 


BRACKEN HOUSE, CANNON STREET, LONDON BC4P 4BY 
Telegrams: Flnantimo, London PS-L Teles: 886341/2, 883897 
Telephone: 01*248 8000 


Monday June 12 197$ • 


By MARGARET van HATTEM in Brussels 


. -'-mm; 


" 1 W B f ai T ENIN LIKED southern over the years to achieve this very different from Italian ones. 

£. "J I Italy. He marked it down can be seen from the gruv.ih of There is one more support for 

• ’I JL- / as a future paradise on its deficit on farm trade after citrus producers, the so-called 

■I'Jk _ A earth for pensioned-off workers formation of the EEC. which penetration premium which sub- 

<T3 from the grimmer northern speeded up after enlargement sidises Italy’s intra-community 

Sj M II v B . climes, a sort of Euro-Bourne- from six to nine. Without exports, but not, apparently. 

ft w w mouth. Instead it has turned radical reforms to Italian pro- enough to make them eompeti- 

~S. into a bureaucrats' purgatory, ductiau and marketin' 1 a fur- live. 

VTHE REPORT on the retail variety stores and mail order In Rome and Brussels alike, as ^ OT acceleration is almo-i cer- As the Italians are fond of 

riootwear trade which the Price firms with large buyer power, u, e y ponder the problems of tain after enlargement from oointlng out. support for the 

^Commission published before Fourthly, imports are now being Mediterranean development and tD 12 Ita j v t . irrem |v North costs far more than that 

• the week-end is a disappointing restrained by both the Govern- EEC enlargement to include iess fnim it ^ ' IS t ;, f 0r the South. Commission 

'document. For the only re- ment direct ij in the form of Greece. Spain and Portugal, they t j, e community' than d" ni‘»t estimates of farm price support 


multiples with ten nr m-ire out- UK f. ml wear manufacturers. Southern Italian agriculture is 

lets, a group which collectively Finally, by implication at least. in a ba d wav and neither Rome p . “iff., 1 

have about 40 percent, of the the Price Commission believes nor Brussels' appears competent ,vv S * p . Er ,0 dca! . 

market. This conclusion not only that British Shoe may be t0 d0 much about it. The EEC otil ? r M | dnerr an«n cnunrie* 

illustrates the mistake nf rely- inhibited from increasing its 20 common Agricultural Policy re- * ucn as bpai ”- Morocco. Is rac- 
ing upon the Price Oimmissinn per coni market share for fear wards those with the political ^ ,reece - and Turkey wiio'c pru- 

to promote competition policy that it may cross the 25 per cent we i 3 ht to back their demands. , cL j. are betler Packaged, more 

but brings out some of the other market share threshold for which means that Italy has con- reliably marketed, and i -r.'.cr 

weaknesses in the range of monopoly references. sistently got the worst deal of adapted to northern paial-.?. 

policy instruments currently The commission based its con- a]] rae nber states. Bur the A quick look at rhe 1 ■.■■un- 
available. c'usions about the effectiveness i ta jj ans could do more to help mum tv's support median suns 

^i; . of compel it:on on the evidence themselves and far more to help shows the extern to which the 

II mule nf ,hn trarie‘<i °riKS nrnfit mar- ti tnn mini- Vnnh am. I»..ra U ...» 


produces ics.-. but ducts, i.J4on on cereals ana 
ecause nurthern Slum on sugar; it will spend 


:th 267m on olive oil. 224m on wine 
and 139m on fruit and vege- 
lP i tables (including those grown 


Liberally 

run 





Of competition on the evidence themsi . lvcs 3nd far more lu help shows’ the extern to which the Br J^s7nd. themselves Uiu P«*« the onus on the Comm^iiarkets-production costs will equa * 
of the South. They import too many North gets more help. M.«i , he raarkel for £ruit an d vege- sion to make much more radial; have to come down inline with fact that 


The commission maybe right gins. These have risen over the 0 r the things they consume, they northern products arc guaran- ...hie- 
when it says that competition is years far niore^ rapidly^ than in are i nept ~ a t marketing the teed a fixed minimum price |^ Ile r 


he market for fruit and vege- sion io mase muen more raoiqu. have to come tnwu iu --- . 1075 

abies is one of the more liberal, proposals from the outset— and : tfcqse of other Mediterranean Pfcfirfu “takM 'Sfect'^SSJ’ 
jeiier-run In U« Co munity. ^ I” ^ S 


— — - — : . aiv iutKi .pMpf.nm in iiip i nmm im irv iu uicriu. . wuniripa. iu simv vi — - . _ . , v __ ^t-. - -- 

not the force that it could be in most sections of retaUing reach- tlimgs they export, and their which political pressure 1.’. . r the j hev no rt?acon whv con- In the meantime, support for! public spending, the South re- regions, though, han ^VggP^' 
the footwear trade and that, in ins levels averaging 4# per cent a ttpmnt« over the oast 30 years years has raised farahnv-> u,.r!d — ", .u...u i.i-. Anuth must mntinue in thp mninc harkuard and pro- ing in. a country' w -many 


groajp^ 


the footwear trade and that, in ins levels averaging 4. per cent atlcmpts over the past 30 years years has raised far above w,.r!d 6yim ' ers shoulc i be forced io take the South must continue in the- mains backward and its pro- ins ; -in- a 
particular, the British Shoe for mu' tipics and 35 per cenl :for t0 develop the South have been prices. The EEC s'uppun- :ius £la ii an oranges and tomatoes if direction of the recently agreed docers ine/BcienL senants^ ^ 

corporation. the largest and one Independent footwear special jsts c05t ly but not particularly effec- minimum price with in. -. ven- thev prefer Moroccan. Israeli, package of aids for Medite* oVer the past 30 j-ears *he oJRce& lesj thja 

of the most efficient and profit- tn t9i<— winch, again, is higher tive ti un purchases and fc -:.p**r; n r ‘Spanish. But tlie ItaUans ranean producers, stressing- Government has. through the day, does not speU_firmn^.^ , 

able groups in the trade, does than in most other trades. . rebates. Few southern pr> •ducts f^ei with some justification, more efficient marketing and Cassa per ii Mezzogiorno and co-ordination .. ■) 

fn rh de f fn Th POlenUal , S - rC , nSlh IntCrVCIltiOll are guarant.«d a minimum price that the northerners have it all production, but on a scale big. aided by the European Invest- ~ ^ 

2w!iSi fU f»^r re ^hVh* JS h rrU S ®. u ” e J rs al S th „?"' r p t l ii| S tranif^ (the CKce P tidns being oi.'.c ••:!. their wav— and that Italy should enough to give it some chance m ent Bank, pumped! a lot of - L0“0p6r3liV6 

several factors which should that because of retail brands ctnpknilp^. durum wheat, and six tvre< of cipher receive more protection. eflfective. For southern, money into the South, com-' * 

Mu^h-.,vr-rrnrr,n r V hP ^ ^ ^ SlOCKplleS fntit and vegetables) aiiti EEC or be allowed to import its meat. Italy, marketing is without, pared with which the Com- gTOHOS - > • 

shnnnfn? a roumi vi^rin/nn m c^ r The CAP was designed to pro- prices for these are noi ^:gni- dairy products, sugar and doubt at the heart of the munity’s recent Mediterranean: - j 

fm,r P nr mnri> n'raiierc s ! lops u ' nd K r tc „*hor ,ec l European farmers but was Rcaatly higher than world cereals from the much cheaper problem. package (1.57bn units of The picture is..- not,. 

be nre decidinc what lhcv ZJn price and^ thaf ^he not tailored for those in the prices. Moi cover since they can world markets, free of the high Northern importers have an account over five years) is a efficiency. - A- ffreatet 

oomre declaim, what thev than on price and that the SQuih NortherQ produce rs of be sold intn intervention only by Community tariff walls. enaless list of eomplautts: the mere drop ia the ocean. But ment ‘emphasis during thrprt 

cereals, sugar, dairy products co-operatives, which cover little The Community’s price support market structure is too frag- post-war plans for development decade on marketing ' and- pro- • 

and beeF are guaranteed prices of the southern production measures, which eat up three- tnented, forcing them to deal have been almost as short-term duction has-. left itffinark Small 

double and triple world mar- except in the case of wine, the quarters of its agricultural wi *h small shippers who are aj the Governments -which bat scientifically nin farms; JB- 

ket prices, encouraging them to guarantee ,s often Ineffectual budget, are clearly discrimina- unreliable, inefficient and under- dreamed them up — projects some of the . newiy-hrigated 

Hume stornc 3rH fa « hpmm.no « c„irf produce directly for the growing Hi^hiv oriepd nm-thom nm. tor >'- But the raistake lies In represented abroad; the small were often ill-chosen, un- coastal areas, backed by geudy--: 

a comnAlrivp aTbeil sti» P S i nn, - intervention stockpiles. The are shelrer^ W hird S ,v, "8 t0 ° much t0 the Xorth ' southern farms P™*®* f " *°° coordinated and not particu- ously low-rated .. 'MW 
relative V snan fun-.” Lrf rh« "I L l , p Commission in Brussels accepts I *' ^ ?Tu ' h ^ nut too little to the South. If the many varieties, .shapes and sizes j^jy effective in raising loans, are proving that thereto. 

' f ' And rhe should be taken for this purpose. ^ Iink between high prtces and w “" l ° b3 L h,8h ta . r ff CAP is to survive in a Com- of fruit and vegetables (more efficiency and productivity. The a market for sonthern-prodfes 

surpluses but cannot, it appears. a , T* Community. munity oF 12 ^ commission than ICO varieties of lemons problems of poverty, ignorance, at good prices where the 

do much more than curb the tanf f s are ^ ed 00 ®*“*’ 3 , will have to fight bard for alone) making, it harder ta ^jd poor marketing remained, quality is very high; The eW ' 


want Small independent hl-»h of thp huvio*. nower of 5ouih. Northern producers of be sold into intervention only by Community- tariff walls. enatess ust ot eompiatnts: me mere 

c^firS: have fhclar^r -ratios are no? ful'v cereals ’ sugar ’ dairy P roducls cooperatives, which cover little The Community’s price support market structure is too frag- pofi t-v 

SAi- Tn nu»K B S .5i e r aUed'on. -Jhe answ^ K and beef are guaranteed prices of th « southern production measures, which eat up *** ^ 


nun-soeciatis m iltioles suLh ^ P m .nh! ! double and triple world mar- except in the case of vino the quarters of its ogricultural with small shippers who -are as the Governments which but scientifically run ferasjh 

Mark? and Stionciranri eHti^h ^ ket prices, encouraging them to guarantee .s often Ineffectual budget, are clearly discrimina- unreliable, inefficient and under- dreamed them up — projects some of the newly-hTtgattd 

Hume Storoc^np^fa^bewinun- T produce directiy for the growing ° Dricedno^rnuro- But the raistake lies 111 repr ? sented abroad * ^ were often ill-chosen, un- coastal areas, backed by gea#, 

a coniniVit'iv/' aTbeil sti» P S nn, - intervention stockpiles. The d S giving too much to the North, southern farms produce far too coordinated and not particu- ously low-rated .. 'MM 

■ nr _ v .^’ . a,bei ! many >w.« ago that powers rnmm ; u , nn jn R ril <c i .i B ap P -n, s ducts are ^ sheltered from .nird n , lt tno Iittle ♦ r , th e South . !f th e many varieties, shapes and Sizes i'. r br effective in raisine Inahs. are orovim! that thereto 


relatively small, force. And the should be taken for this purpose, 
range nf chuico Jia?. been a proputal whk-h wa« only 
widened, a? in must «.'ountries. taken up — and then only parti 
by the growth »f impnrts. ally — in !a-: year’s Price Com 
On the other hand, there are mission Act. 
factors which constrain cnmpe- .»> . 
titinn. Thy market is highly - new 
segmented by area, price range. Likewise, if groups like 

and style, sn that market shares British Shuc are wary of using 


price rise. Southern producers products and are a less re f orm j n right direction, secure a standard cargo; Italians ^d few questions about cost- southern resistance ’ to do- 

get Far less and often no sup- e ^ ec ^ ve tti^incentive Loan in jhe willingness of even such will not grow what effectiveness were -raised : in operative producer 'groups!* 


nort for their fruit and veget- ^ Nnrth partly because the- avowed supporters of a tighter northerners want — sti ckin g to R ome . . slowly breaking . do 

ables. olive oil. wine, and durum pnce differentials are less, prices policy as Mr. John Silkia, oranges and mandarines, which: Deveiopajent in the South wine is now sold to. prodnefer 

, . .. . . . . wheal. But the Commission can- P artl >' because the products are the British Minister of Agricul- have pips, ratlwr than the bland, ; me ant mainly public works, groups . and citrus , . - fniit. 

^ >l l Sn ^r rkC{ ? are 1 B w ri ^' sh r M h,,e are °f US1 tH not. it appears, devise much mnre vaned: mi!k powder is ture. to compromise for short- sweet, pipless navel oranges and. a ^d which Mafia was co-operatives are starting, up. 

hrl «nnifi™n i h,?ir f ru c,,m P el . lGvestr ^ gth bevond token Price supports. raiIk n owder wherever it comes term political gain, as instanced satsumas; the peaches are tpoA?^ t0 spoL It was .thefirst Their iuembers say -their 

' in ia r ti r U 1 a r lnt atiunV h° V processing and marketing aids. frnra - blil Spanish orange* are in the recent farm price review, miall, the tomatoes are a funny ^ market in contracts exports are expanding, -thejr 

irrigation and modernisation SSL— the beautiful ' and very packing and marketing'- costs 


; ondly. resale price maintenance then a less rigid approach needs I '7;f al '° n a °r 
■ has been replaced by the prac- to be .devised-another matter S e ?“ th wh ^; 1v W i^ iT| he t L p, r n ® 
ttce of recommending resale which is not altogether new to 7 1 th 1 n 10 r 

pn>os. These are almost uni- discussions of competition ar J?f. ® a,an . c ®' ... tha 
versa! ly respected, save during policy. To resort to price con- ^ nde !! CAP, ,il aJ -„^fl s J 11 ! 
sales p^rind-i. both for UK brands trols in a situation where compe- wnrsl ^°'“ 1 w °rics. -Changin 0 
fon which the independent tition is not only not lacking but consumption patterns since the 
specialist shops heavily concen- could still be promoted is a con- war > n ® 1 niched by changing 
trate) and for imported brands fession of failure. For it means production patterns, have made 
{handled largely by the mui- tackling the symptoms rather It a major importer of northern 
tiples) Thirdly, retailer brands than the causes of inadequate products. It gets around 95 per 
are widely sold by multiples, competition. M ‘ ni nf i,c mi,k chee , !r» 


SOUTHER!) FRUIT AMD VEGETABLES 

(thousand tonnes) 


EEC imports from 
third countries 


Italian produce jiiaken 
off the market 


Peaches 

Oranges 

Lemons 

Tomatoes 

72 

1,900 

224 

353 

325 

300 

55 

10 


Questions for 
Israel 


.SEVEN MONTHS ago today assertion of central authority. 


cent of its butter, milk, cheese, 
and sugar from the Community 
and vast quantities of cereal 
(particularly animal feeds) — 

spending more on imports from — 

the Community than any 
member except Germany. 

In return. Italy feels it should Germany 

have preference in EEC markets France • 
for its fruit and vegetables 
(which constitute about a quar- HothWands 
ter of its agricultural output), r-rj — 7 — 


EEC MASERS' IRABi \H FJcD .M 
AGnlCULiUR L PR DU CIS- 1976 

(million units of accounE) 


IMPORTS 

intra-EEC Extra-EEC 


aa.'Ci UUII UI lciilioi au uiut I Ljr. -fa-— — *---— 1 .rv.mhnurll -j age 

Mr. Menahem Begin. Israel’s In the south, as the Israelis its olive oil, and wine — with B D •* — 21,85 


•Prime Minister, formally invited prepare to complete their with- Price supports and tariffs high Britam _ 3 - 485 7’ 180 _ 1<S1 ’ L*? 3 ._ ing techniques alone will not 

President Anwar Sadat of Egypt drawal, scheduled for tomorrow, enough to protect it from third Ireland 315 294 1,073 2 37 get Italian fruit and vegetables 

to visit .Jerusalem. One Arab the UN is attempting to keep country competition. Its Failure Denmark 423 117 1,952 1,103 into British and German super- 

criticism out of many of this the Palestinians back and the 

historic visit was that the only Christians from counter-attack- m nanfe mum m^mm mm East 

.achievement of such an inttia- ing. (Israel's attack on a Pales- Hfl fETM II M ii wM Bft H B KT HjICP 

tive would be to cause irrepar- tiniao base last week indicated |V1 r|l| |f ^tjU I § LPfiJ 

able disarray in the Arab that it would not hesitate to do ■ BmuBW 

th*. ,h-,c rficmol 3 w p \ n 'wihSt Thf of nuclear power. He thought ihe young and lively spirits to abusing the brake arid a similar 

‘his dismal e ^trouble.) Within he RrO nUClear much of the trouble lay in rejuvenate Ihe profession? The fine on the smoker. 

niratn rn Fe\-n»- Jr r P SS5 {51f ! vsswr infaniM Jm UUU.. the a ccounting sj'stcm used for answer ill these questions which But M. Valet was made of 

{ L'?’ TOrmed metals such as plutonium. I passed on from a colleague sterner meat He sued the 

This week will see the first Fiends of the Earth was to be given a copy nf the French railways. SNCF. fur 


not necessarily of Jower^uality. ^ ensive hi ^ ways . bri dges and shrinking. V 

;S - bu^ tjjey are often lessattractive d^ms proti^rating throughout Italian per capita -farm 
to the eye less attractively southern provinces. But incomes are about three 

packaged, and less well-known ., ^ choice of-projects has come quarters of the EEC average 

Tomatoes Unlike the Moroccans, for strong criticism within and vary widely -from regf^i 

and Catifomiaps, the “" ia ^ imly. .Many tonnes of fruit get to region, those in the.sou|i 

353 have few readily xdcntifialjle caug iit up each year in the being about half the national 

brand names and have mounted ferry bottleneck at the Straits average. For southern farmer*, 

10 . no t J 3Q!g 2 r ^ It) ? 1 t h?no of Messina and are left rotting probably the poorest In the «nS- 

<. Rn P ar7 in ^ trucks. Plans for a sus- munity. the CAP has failed ip 

wtth the Israeli Citrus Board, perision bridge over the 3 km its basic objectives. But 11® 
tor example. stretch of water have been fundamental reforms, on .tfie 

D J 1 - ins j* 11 * 1 ® drawers' for years Italian side which would make 

X rOQUCIlOn awaiting, funds. it more effective cannot. ?be 

It all cries out for a firm imposed from Brussels. SbwUd 

EXPORTS COStS- ^ and and co-o rd iuaJ®dSpiann- the Portuguese, Creeks 

Intra-EEC Extra-EEC ins - something the Italians do Spaniards eventually prove 

1 . .. ’ The importers also complain not seem able to reconcile more efficient in using_;.what 

— 1 -' 55 “_ that Italian growers put the with ’ their concept ’ of the Community has to offer, 

domestic market first so that in democracy. The Italian Govern- Italy’s share of" the markets for 

9I3_ years of limited production, ment is iD the process \ of Mediterranean products will fall 

1.704 - contacts fail away and they are dissolving the Ministry -.of away even more sharply, - iTk® 

4 forced to look elsewhere for Agriculture, in Pome and northern member stateffarefnpt 

r 79 > — supplies. But improved market- handing over power to trie going to reshape the 

Hi. _ ing techniques alone will not regional administrations, which suit. Italy— community 

237 get Italian fruit and vegetables do not have close contact with require Italy to adapt an^aite 
1,103 into British and German super- each other and are not all of it fit. * =' : ' 


for example. 

Production 

costs, 


t *asTO 


criticism for evervthina from hut his authority is beine This week will see the first ine ‘‘nenns ot ihe tartn was tu be given a copy of the rrenen railways, hNL*. fur 

ft economic to Ws fiireSS challenged botii wUhin his ov^ meeting of the board of the *»* c-mvinced. Their nu- latest issue of On Account, the failing to transport him accord- 
policies His response has been organisation and by extreme curiously-named pro-nuclear clear expert, Czech Conroy, told jnurnal of the Young Chartered ing to the terms of his ticket — 

basically in t^o d^ectio^ both PaleSaS groSps group, A. Power for Good, me that they believed that the Accountants Group. Far from the least that could be expected 

:bf thein puttina into reverse hk PaJestim * n ** P ' Simon Rippon, the European establishment of tii* APG re- debating the Meade report this of a man who just happened to- 

movr.fi to make Eevnt more Self-rule editor of Nuclear News, who is fleeted growing concern by the devotes two of its 16 pages to be the founder of France's 

democratic First he held » one of its founding fathers, says nuclear lobby about the actual an article reorganising the League Against Smoking in 

referendum on nronosed leei£ ^ Israeli cabinet meets t0 ' that It plans to lobby the Gov- implementation of nuclear, pro- Government’s budget. Public Places. 

Jatinn which was deliberately day t0 discuss an swers to ques- ernnieil t 0 f the day but is very grammes. And he quoted me It proposes doubling the share The SNCF argued that if M. 

aimed at excluding the two 110115 put by the U,S ’ The key keen to avoid accusations of from a hearing before America's of expenditure on defence and Valet were indemnified for a 

political parties which most ones c 0006 ™ Mr - Be g ln ’ s °ff er having any political bias or Nuclear Regulatory Commis- law and order, and slashing ex- •• passing inconvenience " all the 

faithfully reflect nolitical trends of administrative self-autonomy favouring one party rather sion. One witness said that the penditure on health, education trains of France would be stop- 

Witlvn th** country namflv the to the West Bank aQd 1116 Gaza than the :°ther. It started question of whether uranium and overseas aid. Capital gains ping and starting, the timetable 

New Wafd on the right and Strip - Th ® A 1 * 1 question seeks earlier tliis year when 150 235 had been diverted (to tax and death duties are to be would collapse and rhe cost nr 

the Unionist Progressive Partv t0 esta ^ 8 ^ what tl,e Israeli s “ obviously interested ” people Israel) had become academic abolished and income and cor- extra staff would have to be 

*<NPP) on "the left The- result believe w1 ^- 1 ha PP«n after the we re approached. A hundred for the CIA since plutonium poratinn taxes are to-be re- met But the Court was nnt 

of the referendum was predict- ex P ir >' of the proposed five years 0 f these took up the idea, from the Dimona reactor was placed by a straight 10 per cenl impressed. The SNCF had estab- 

abiy favourable This leaves twh of self-rule, and the second asks Rippon told me that he had believed to have become- avail- tax. Such is the stuff of the lished its rules sn it had to 

parties in operation the mai- bow thereafter the Palestinians been afraid that jt would turn able. extreme right’s dreams but On observe them and have its staff 

ority centrist partv headed bv themselves will participate . in out to be backed only by indus- hmmb Account says that its inspiration t0 do the same. As a result if 

the Prime Minister and a small determining their future.’ try but is pleased that that n .. . is those well-known institutions, awarded 1,000 franc damages 

ricTif-win" partv which usuaJIv In spite of the apparent Arab board which was eventually Radical yOUth the Rnm an Catholic and Mor- to M. Valet and the same to bis 

supports Ihe government. disarray, it would be in Israel's elected includes Prof. David .. s-Hnhtanm, » niOQ Churches. So perhaps it is League. The SNCF are now 

long-term interest to give posi- Leslie of Queen Mary’s College, ment I1 nn*'Th Palh> ^* rais 0T J e J ust as we,! thal - voun S left gloomily awaiting the next pull 
Investisation tive answers tu the American London, a solicitor (Timothy 1B _ , . wa >' uiat only Brighton alone. on the emergency brake. And 

queries. First, for Washington Hale) and freelance consultants * T n l cf . iflI ?f’ u , nie mbers of British Railways are crossing 

Mr. Sadat's second move was a solution to the Arab-Israeli such as Duncan Bum and \ Charterea t h e j r fingers that such practices 

tn Clamp down again on those conflict is still a priority, and It Geoffrey Greenhalgh. former * ™™ ed H p at Ws t NOn-SITIOkerS will not be crossing the 

who have been critical . of his has shown through the aircraft Secretary General of the British conference at Channel. 

policies, ordering five of Egypt’s Seal with’ Egyjt and Saudi Nuclear Forum. Charter ■ — — 

most distinguished journalists Arabia that it has important APG has already levered 00 c .° r nio1 ° ,1 ] ^ nse It has bePn a busy per1od for . , 

to appear before the Prosecutor- interests in the Middle East expenses out of the EEC for ^ Uon accountin, and where British Ra | lwayaL a few weeks InS and OlltS 
General for investigation. On besides guaranteeing Israel's three of its supporters to par- j ago they were launching a Thsro u t ..Ksmimi ho....; 



on the emergency brake. And 
British Railways are crossing 
their fingers that such practices 
will not be crossing the 
Channel. 


M Mtj tokole wfltj ($e? 


\Vhen one has known a certain way of life, and rising 
costs look like taking it all away, who is there for people 
like us to turn to? r r 


trip of this, Mr. Sadat twice last security. Second. Mr. Sadat ticipate in hearings on nuclear 
week in addresses to the Second could eventually become des- energy. It argued that 55 of 

ind Third Armies referred for perate enough to turn to arms— its npponents had had their 

the first time since the visit to as he did in 1973— even if he expenses paid. 

Jerusalem to the possibility of stood no chance of winning. Now Rippon says that it will 

having to use force to regain Third, an offer positive enough launch a membership campaign, 

land occupied by Israel, So to interest King Hussein could though it prefers issuing fact- 
lftuch for Egypt itself. transform the EgypUsrael sheets rather than copying the 

• On the eastern Arab front, dialogue by strengthening Mr. tactics nf opponents such as The 

Syria and Jordan have fallen Sadat's da ! m that lie is capable Friends of the Earth. Rippon 
out because of King Hussein’s of obtaining concessions on believes that no other industry 
tacit support for Mr. Sadat. In fronts other than Sinai. has as impressive a safety record 

addition, Syria is deeply em- Finally, it is an opportunity as the nuclear one. He accepts 
biroiled in Lebanon through its to revive the most imaginative that initially the anti-nuclear 
30, 000 troops which make up the initiative to r-umc nut ot the movement in the U.S. had very 

l/ulk uf the Arab Deterrent Middle East since the conflict sood effects” in that it led to 

Force. Lebanon itself nnw began. Otherwise the nnly fac- 3 tightening nf safety controls, 
scarcely exists as a single an Miy lions to Gain would be those When 1 asked him about re- 
vvj'th its politicians more deeply cynical critics of Mr. Sadat who ported losses rjf fissile material 
divided than before the civil maintain that the visit, to he told me trial he did not wish 




ago they were launching a 
125 mph High Speed Train 


There is a charming beginning 
to a note my colleague Samuel 


11 

• 1 : :: 


[0 turns \ 

P£BAT£ } 

f&IEHfltt 

tfWCME 


which could at first travel only Briltan has received from hU 
at normal speeds. And last hotol in Washington, regretting 
they gave us their ,h a t he had been unable to stay 
150 mph Advance Passenger as plaiiried at lhe hotel a ^- 

Tram i which for the next decade addins: - We appreciate your 
will be travelling at 12 p mph cuns idcration in calling to 
But at least their pensioners L . ant . e i your reservation.” 
day was a success— marred only But thcre is a „ iron c!av> . jn 

by news of a dangerous prece- fh e velvet glove. The hotel com- 

m y 3nc . e - ... puter had automatically checked 
The story is one which will him in as from 1.00 pm of the 
warm the hearts of all non- arriva , date> so rhe leltcr aoes 
smokers. It started when a on: ... Sincc you had been 

passenger in the first-class nun- -checked-in’ the cancellation nf 
smoking compartment from V0lir regervaUnil was reanv a 

Strasbourg to Lyon refused to - check-nut.’ ' Despite his having 
pul nut his cigar. To protest telephoned at 5 pm. ihe leirn? 


There is the Distressed Gentlefolk’s Aid Association. • 
The DGAA is run by people who understate. They ’’ 
know titat wc want to stay in our own homes, surrounded 
by our possessions and dose to the friendrof a lifetime, 
bo. they help us witn allowances and with dothing parcels. , 

Only when we can no longer cope do the DGAA seejf . . • ! 
tney can ofler us a place m one oftbeir 1 5 Residential and 
Nursing Homes. 

™ hd ? thc DGA - A - more the ’ • 
DGAA can d., to help others. Donations are needed 
urgently. And please, do remember the DGAA when 
making out your Will. 


DISTRESSED GENTLEFOLK’S 


M. Denis Valet pulled the was in fac| bi „ t haJf h 
cmcrcency brake and the train nurma , room ra 
grniinri to a screechinc halt. The. 


war and with President Sarkis Jerusalem w-J^ an exercise to minimise 'the seriousness of ?f\x ground to a screechinc halt. The 

able to draw only un a tiny and which bad .never, been worth such matters but lhal.lt .was the '* "Which’ the Gha:ipo|p f r^ for conductor immediately' slapped 
impotent national army as an taking in the first place, latest issue raised by opponents one, doesn't practice 1" a 5 0 franc fine on M. Valet Tor 


Observer 


VICARAGE GATE HOUSE - VICAI 

. KENSINGTON LONDON W 

RAG 

S4A 

EG ATE 
O 


th 

digni 


i 







on 


p&fitEfiTS 

GBOUP HEADINGS PAGE GROUP HEADINGS PAGE 


US.Dbllazs — Algeria 

14 

Euro Units of Account 

19 

— Australia • 

14 

French Franca : „• 

19 

-—Austria 

14 

Hong Kong Dollars 

19 

— Belglnm 

14 

Japanese Yen 

19 

—Bolivia 

14 

Kuwait Dinars 

19 

- ■ —Brazil 

14 

Kroner (Denmark) 

19 

US Dollars — Canada 

14 

. Kroner (Norway) 

19 

—Colombia 

14 

Luxembourg Francs 

19 

—Denmark ■ 

14 

Saudi Rlyals . 

20 

—Finland 

14 

Steriiug/DlB 

20 

US Dollars— Francs 

14 

Australian Dollar /DM 

20 

1 Gabon 

14 

Externa] Sterling Issues 

20 

—Germany 

14-15 

Special Drawing Rights 

20 

• — Greece . ‘ 

15 

Convertibles — France 

20 

US Dollars — Hoag Kong 

15 

— Hong Kong 

20 

... .—Hungary 

15 

—Japan 

20 

—Iceland 

15 

— Luxembourg . 

20 

— Iran 

15 

— Netherlands 

20 

: US Dollars— -Ireland 

15 

Convertibles — Singapore 

20 

•- —IsraW 

IS 

—5. Africa ■ 

20 

-, ■ — Italy ■ 

15 

— Sweden u ... . 

20 

. —Jamaica ^ 

15 

—Switzerland. 

20 

US Dollars— Japan 1 - 

15 

— UJC. .- v ... 

20 

Korea 

15 

Convertibles — VS./ ' 

20 

— Luxembourg 

15 




Mexico 15-16 

•- — Netherlands 16 

US Dollars — New Zealand 16 
-^-Norway 16 

'.—Panama 16 

• —Papua ~ . , 16 

. — Philippines - 16 

'> —Portugal 16 

ITS Dollars— Singapore 16 
— Soutli Africa 16 

—Spain 16 

— Sweden 16 

US Dollars— Switzerland 16 
. Venezuela 16 

>• .' — UnftedJOngdona 1 16 

W V/id-JT ■: 

^l»H lttnatipnalcl7 
• • T —Supranational' 1 17-i8‘ 

US Dollars^— FloatingRate 18 
Australian Dollar*. 18 

Bahraini Dinara ; . 18 

Austrian Schillings 18 

r CanadIan Dollars . 18' 

EnrogdOden 18-19 

EranCoanporfteUniU . 18 

Euro Currency Unit*, - M 


The table of quotations and 
yields gives the latest rates 
available on 3 1st May, 1978. 
This information-^ ‘is from 
reports from officiatand other 
sources which tbeAssociatioD 
of International Boud Dealers 
considers to be.relttble, but 
adequate means' of.rchecking 
its accuracy are not available 
and the Association "ifoes not 
guarantee that tbe iiiloma- 
tion it contains is accurate or 
compete. ‘ 

All rates quoted ate ^tor 
indication purposes Qflly Snd 
are , not based' tuuTiuot: {are ■ 
-they' intended^ to ba'-usefeStfi 
a basis for, particular traus^ 
actions. . In quoting the rates 
the Association does hot 
undertake lluft its members; 
will trade in all the listed 
Eurobonds, and the Associa- 
tion,- -its -members and -the 
Financial Times Limited do 
not accept any responsibility 
for errors In the table. 


BANKERS TRUST INTERNATIONAL LIMITED 

Market Makers in 

Floating Rate Note Issues 


The -interest, rates .per annum -applicable to the following 
TJS$ : Floating*. Rate- Note Issues were announced during 
May. These rates ire ..quoted for information purposes 
oniy, and should he confirmed prior, to the execution of 
a specific transaction.- Tbe ; rates .quoted- apply to the scc- 
month periods shown. ^ 


. From omnr 

jnj ■ r 1977/82 ..-l May 78 -lNqv.78'1 

C^F-- 1885 -/ 3May 78 .3 Nov. 78 8j% 

J/1SS3 4Jf«-7S ,4 No».7S 8A% 

*“g&£i£ s -' t ”;»"• 7| .« 

-Vfehava ■ -- 1981 12 May 78 : 18 Nov. 78 

Bank^f Tokyo->'--'10S4 15May78. 15 Nov.7S- 

SS&hd 1982 15 May.78 -15 Nov.78 8| % 

JS^teGe nc*rale f '15-Kay7f §j$ 

• • , isM»y7* 20 Nov. 78 m% 

iiSsSSSSSt 20 not. re «v% 

IS .1555^, || 

'ygSjg^r£m ~ S 8 

B4nSrBto'dIo^l9S3/g r.fjHlJ.lf on no* 78 ' 

Idbyds-Euxoftaance -1983 31 May ^ 30 Nov. TO 

Standard; Chartered 19S4 .SlMayTS- 30Nov.7S . 

7 1982 31 May 78 , 3tfNov. 7S 9«% 

“ --1 r > i m f 31 May 78 30 Nor. 78 

553m -'--'A OSl 3) Nov. 18 ■ 8?% 


To; 

;.:i Nov. 78-i 
.3 Nov; 78 


.1983 V4jtfay78 A If or. 78 

: 1983>- 9 May 78 ”9 Nov. 78 

1981 -12 May re IS Nov. 78 
--10R4 15-May 78. 15Nov.7S> 


be anBOttriced duiing m yuoe, • ■ 

' - ; 'v..-.*^y^aMlr0: yd^nsbank 




BaBSfffiBJfflowp 

Ban(p|e-Wo*w*" 

^.C AV «■ 


Gx&titaistalt Bankyereih- 
National Westminster 


Hytirqcaitwm* . • ... 

Credit' Lyonnais rain. o*% : 




• The Association of International 
Bond Dealers (A1BD) compiles 
current market quotations and yields 
for Eurobond issues. These 
quotations and yields are published 
monthly by the Financial Times. 

The Association’s prices and yields 


Eurobonds in May 

BY MARY CAMPBELL, Euromarkets Editor 


are compiled from quotations obtained 
from market-makers on the last 
working day of each month : there 
is no single stock exchange for 
Eurobonds in the usually recognised 
sense — secondary market trading 
business is done on the telephone 


between dealers scattered across the 
world’s major financial centres. 
Membership of the AIBD ( which was 
established in 1969), comprises over 
450 institutions from about 27 
countries. 

A key to the table is published 
opposite. 


The rise in interest rates bas been the 
dominant feature of the past month, in 
most of the major international credit 
markets. Three month Certificates of 
Deposit in the U.S. have moved up by 
about 25 basis points to 7.5 per cent. 
Sterling money market rates have in- 
creased by 100 to 150 basis points while 
Deutsche Mark rates are about 25 points 
higher. 

The uptrend in U.S. interest rates has 
been strengthened by the Federal 
Reserve's strict monetary policy and its 
repeated attempts to curb the rate of 
monetary expansion. The target rale for 
Federal funds bas been raised from 6} 
per cent to around 7J per cent since the 
beginning of April. Tempting investors 
into the bond market at a time when 
investment in shorter term instruments is 
more rewarding has proved difficult. 

The coupons lor some issues were 
generous when the issues were first 
announced (Ontario Hydro and the 
straight for National Westminster) but 
they were overtaken by rising interest 
rates during the offering period. Very 
few straight bonds have been offered and 


only a handful of floaters. These have 
met with a good reception in the market 
and in most cases increased in amount. 

The past week has witnessed two con- 
vertible issues: the first dollar denomi- 
nated one for a Japanese company since 
last autumn and one for a U.S. company. 
Both of which are meeting with a good 
reception in the market. 

The only straight issue iD the dollar 
sector announced last week, for Quebec 
Hydro offers a coupon of 9* per cent for a 
13 year maturity, terms which seem to be 
in line with the market. 

In the secondary market prices see- 
sawed a fair amount but essentially the 
lone was weak. Yields in Eurobonds were 
coming more in line with those on Y'ankee 
bonds which had risen earlier. The latter 
sector of the market was very active. The 
last week of May witnessed a big volume 
of Yankee bonds — in three days $650ra 
worth of new issues were absorbed, six 
times the previous weekly average. The 
explanation for this sudden burst of 
activity was tbe rush to beat the expected 
rise in interest rates and as a result some 
of the offerings proved a little sticky. 


Tbe offerings for Canadian borrowers 
were no problem, so well known are they 
in the New York market, but there were 
difficulties with tbe Australian and the 
Swedish issues, which had to be helped 
along with " overtrading," the practice of 
buying up old bonds at artificially high 
prices in exchange for the new issue. 

While the Australians decided to 
restructure their offering, increasing the 
amount of the short-term tranche and 
reducing the amount of the long term one, 
the Swedes offered only twenty year bonds. 
The result in tbe secondary market was 
dramatic. After they were released from 
syndicate, the bonds fell to 97H- Another 
borrower. Finland decided to take into 
consideration investors' current preference 
for shorter term paper and reduced the 
maturity of its Yankee bond offering from 
seven to five years. 

The weakness of the Deutsche Mark 
sector led to the closing of tbe market 
for new* issues on 12 May. DM 340m worth 
of new issues were floated in early May 
alone, a figure which increases threefold 
if the DM 600m for Canada is included, 
not a figure the market need be ashamed 
of. What caused the closure of the 
market according to a Dumber of dealers 
was not so much the volume of new issues 
as the rather less good quality of some of 
the borrowers and the orgy of coupon 
cutting which bad reached a climax. 


Tbe new issue market will reopen on 
June 20 the Capital Markets Sub Com- 
mittee decided last week in Frankfurt. 
DM 330m worth of new issues, all for well 
accepted borrowers, will be floated in the 
three weeks to July 12. 

As in May before the market closed, the 
terms of any individual issue bare to be 
agreed by the Sub Committee the day 
before each issue is due. While any banks 
can presumably override objections raised 
by the Sub Committee, this agreement 
among banks to consult does provide a 
greater assurance ot tidier marketing of 
issues. Activity in new issues continues 
meanwhile in the form of convertibles. 
The Japanese announced they would be 
floating nineteen convertibles in this 
section of the market between July 1 and 
the end of September. While prices of 
straight Deutsche Mark denominated 
bonds were weak in May, prices for con- 
vertibles held up very well, thanks to the 
combined strong performance of the Yen 
and the Tokyo stock exchange. This 
situation is expected to persist for the 
time being. 

At tbe end of last week the secondary 
market was quiet, with relatively little 
trading. Initial reaction to the reopening 
of the new issue market was cautious but 
optimistic. 


l»*-. „ 


• . j,-r v."— -u- y.i.TTC '*' • . .■..■w ~ ** , --x* ... ♦ - '■ •f", 


i"-- " -. •''>•• •• . • • i - :• . t.i y>--- • ■ vAl >■- :.v-«r. 11 ..PL .>-■• • ■ 

M^gagrde &abe et|fetematipLafe^^^ 


#Banque J&aBe et Internationale dTnvestissement 

St ^ V.- ■ _ 1 ' ■ 

^ .- .'y ' ' .. and-.. : . s : 

. BJLLt. (Middle East);. Inc^;:;®|S> 


WM 


and . . 




Assets 


- 'r w.vuvm wn- . . -*r»t tk~ r: \mr •• tt . ;• ^ ■* ■ ; . :<• • -.-..r. 


Group Consolidated Balance Sheet 

as at December 31, 1977 

Liabilities 


» _-h_ 


h 


U.S. $000 


U.S. §000 


B anks and Correspondents 

Xioans and Discounts 

Shortterm 

Medium and long term 

acceptances 

Other accounts Receivable 
and accruals 

Investments and 
Marketable Securities 

F i xed A ss ets 


1977 

1976 

555,692 

446,786 

293,942 

202,327 

277,659 

164.358 

9,439 

75,681 

65,631 

52,077 

29,814 

47,427 

1,961 

1,593 


Banks and Correspondents 

Sight deposits 
Time deposits 

Customer Deposits 

Acceptances 

Provisions and Other 
Liabilities 


Capital and Reserves 
Share capital 
Share premium 
Revenue reserves 


49,855 

1,037,068 


1,234,138 990,249 

Commitments and Contingent Liabilities: 


9,439 

30,095 

75,681 

27,774 

1,166,571 

929,416 

50,000 

50,000 

4,000 


13.567 

67.567 

6,833 

00,833 

1,234,138 

990,249 


UJ5. 9000 

1977 1976 


Guarantees and endorsements 
Undrawn credit commitments 


367,176 

192,020 


212,684 

111,192 


Operating Expenses 


Consolidated Statement of Income 

for the year to December 31 , 1977 

ises „ I Operating Income 




TJJB.4000 
1977 1976 


TO. 1000 

1977 1976 




Personnel expenses . 
General expenses 
. Depredation, provisions 
^ and taxes 
Net Profit 


4,977 

3,802 

1,617 

2,038 


2,763 

3,160 

1,992 

4,333 


Net interest income 
Commitment commissions 
Management fees 
Other income 


10,784 

3,234 

2,855 

561 


7,538 

1,999 

1,687 

1,024 





•--I.- — Tra.-M. — aa? 














14 


■ oV Financfe ! 



t 


BOPRO’A'ER' 

u 

COUPON MATURHY 

s 

c. 



9 ! =?“ 
22 us 



s !«i 

= • cu 


ST • *3 

- s < 

2 , 0 U 


•5 J °£ 

« ! C 5 


SOBSOWEpr 

coupon wauinr 



VZ D0LLA2S-ALCEP.IA 


33.00 197T* B-JCT EtT D'JUfSFIE 

100-00 -3.00 IS/ s; !SP2 

OS B0UAAS-8CSTRALI4 


;/2 4.:: S-TJ 5.IJ 


jo :.w j>!c <:i 3 :i5 :jo *:7 

i«;o rri#:s ix 


^ ^ ^ ^ 

Tr . . w »< i/i r.w 


I9r» ALCA.1 A7STRALIA 
100-50 8.50 15/ 4/ WW 


zr .75 
!»(* 3 PT197® 


(• ni *■« *•• 


•■■M :/ 7/19*3 


303 

• ie:.:o 


70 l.’l 73 X 3Z7 !M MSK/SfiB 

15'* 5?W- IT 975 

»i><: ?C fC 315 112 9i1 

19*3 It 



25.00 

197A 

AO STEAL LAX C® PET7 COE? 10) 

J.'A 

J.3I 

*.09 

9-93 ...6 

J f B.J' 

25.00 

100.00 

in.:? i.'::/ 1*91 


5 .Cl 

f.-l 

20C-M 

i?'9 1)78 

40.00 

1977* AUSTRAL IAS SDK 6 SHFLT'C 96 

7/8 

1-.0- 

*-!6- 

t.53 10.23 

JO 1.80 

60.00 

100.00 

9.25 15/ 6- 1*®; 


j 

“ . . 

SOl-no 

:*#j 9 p:9bo 

10.00 

1977* AUSTRAL LAS XfLiOGRCI' *0 

100.50 8.J5 U Hi 1902 

: a 

..51 

P.#I 

6.37 P.o 

7 O' j . -So 

in 

190 1 

30.00 

1975 

■99.50 

AUSTRAL IAS PX5QCRCE3 ICO 

9-J5 1/ 8.1“B0 

1/4 

1 

®.C9 

9.23 6-“6 

loo.m 

)fl 

!979 

50 .00 

1975 

■AUSTRAL IAS RES0T7CES I0J 


4-75 

S.®5 

9.31 7-> 

30 i.m 

26.40 

100.00 

9.50 Li 3/ 1*83 


A. JO 

E .72 

100.50 

1979 DPI®’# 

42.00 

1976 

'99-50 

AUSTRAL IAS SHIP COWf t 98 
8.25 ■ U 9/1999 

3'0 

2.26 

6.63 

8-39 

101.50 

9IK 

1940 

30.00 

1977 

99-50 

BROTHS HIU PROPS 95 

8.00 1/ A/1983 

I/- 

6-84 

f.95 

8.*0 9.87 

101.50 

GP.T 
;#» ; 

30.00 

1*77 

BROOK HILL /POPS 9* 

1/8 

1C.** 

•■:a 

8.76 *.,» 

on.; '.«# 

30.00 

39.00 

0.25 1/ -/DP? 



“.7! 

101.70 

1“E# 19(6 

30.00 

1975 

100.00 

B0DUX BILL PROPS 102 

3-50 U 3, i“8L 

1.6 

2-fJ 

K.-l) 

9. JO 7.54 
100.50 

I«T9 

20.00 

1975 

BSOKEK HILL PROPS 104 

l/i 

•!.*: 

“.I* 

9-59 8. “5 

JT .92 

17.53 

98.50 

10-00 1/ 5/1990 


»■:- 

9.J4 

la&or: 

l“!i P?-.1T» 

20.00 

1970 

COBALCD 1ST RCRORE 10? 



t..! 

9-50 ®.5'i 

■J -0>' 

13-00 

98.50 

9.50 1/21/1*85 


■.■■« 

6 . -4 

ICO .75 

:?in sr.on 

25.00 

1975 

C0HALCO LTD 101 

T/8 

8.8* 

e.t* 

9.82 9.13 

jo ;,vi 

22.00 

100.00 

10-00 1/ 4/1987 


6.J2 

“.79 

100.25 

1982 DP14’* 

25.00 

■68 

1958 

■37.50 

CQKKXHEUTH - APSTRALIA 99 
5.00 1/11/1*70 S 

1/4 


#.»3 

3.10 

IQG.CiQ 

11 .i« 

IP’S 

30.00 

1943 

COKMMUEALTH - AUSTRAL LA 95 

: a 

— J* 

*.:? 

5-33 

JO -Hi 


59 — 1J6 10*. 937 935 9*1 
IX ®-‘ 

icy re 4:6 *"* 


:•■■■• :':/ i»si 

!-• • 7 7 -KT- =*5 ns 
1 ‘ ••• 1 *i H .!* 0 | 




• » r- boo ?:c *:t «:s 
if*: 

5" ir *12 ins ?ps t:o °:7 

; r 0,i q-,0 »** 

rr IT 107 W' '70 “17 


r.- sv 1*1 105 y> ■:« *'■• 
II •!! IV. ».i »:•> 

o#r, “JJ b..' 

<» t i*3 ios .!•••’ ’O'. ':® 
Lx »rr s:o ®:? - 5 


■'■■ * .••.-.sr w.;i5 rrr 5' 

■ ® ■■-■ i : 9 . ;* s 5 

7 — .■ *“•' *ur^niii-irsr 9- ’ ; 

— ••• . -.- r ' ].- j ': 9-6 g 

— ' v n r, T9:ci7? go : f 

“ • ■' 1 »<I«H 5 




*T 

?z 

n 

315 

932 

9S3 



r-jn 

205.50 

1““0 

-1 








11-22 

#0 1 .00 

FT. 


315 

20 

1C5 

25J 


ic-ca 

I?i « 

.*0 

>S2 198 ; 

LZ 



JJ5 

:-;n 

»i: 

932 

6.80 







“®o 

973 

975 



’.o.o; 

15 3.1J 

► l 

EU 

238 

»** 





:ci. 

,“1 

7 Gs5 a?:*®o 

L!: 







10-30 


,*9 

.-5 

7^ 

n 

3M 

ins 

BSD 

575 


100-52 

23 '9 D?:?‘# 

IS- 


















40.03 



1®3C 

-r 

ITT 

35 

its 

s:a 

520 

BBS 

:sj» 

25.00 

! 03-10 

i«-5 IS’! 

L rFF. 


e.< 

975 





■0-2 . “0 

c-: 

n; 

739 

'■6.1 

310 


BS5 

25 -SO 

:o:-oo 

in? :“#> 

:‘u 


ti- 

9 75 



25 JIO 



:? i .?? 

■•T- 

53 

i:- 

ns 

3L* 

5ZO 

sas 


as pflLuis-ajsm (cosnsem 
:«ts cnr .o? jnsftaz. ■ ‘ 100 5/8 

1-M.oO *.25" 13/Xjl9t3 

. Isis cirr of.swmml '• -ioi ill 

\m\ao - 9 -75__' umts&i 1‘ ■ 

1975 m er garmt v ' 101 1,'* 

100.00 - J05.' iv>»im t - 

ism czxr'or qettcc- 99 
99.1s 9.-00 i/,viw2 j .s 

1976 air or .WHamziT. .. 90 

IOC -00 ••• a -15 307.971991 

1979 CZ=T OF WCOrniX. ' 90 

100.00 8.75 30/ 9/1980 

W77 .cur ar.vaafirai ^ ■■•.... 9* 
100-30 8.23 jv^/nsr; * 


4-72 9-W. ,fI ? 
.3-51 *..W ’* 4L 
2.1J 9-39 ?-96 


3.-81 

3.49 »•» 


itu.nr 


3.34 8-63 8-34 

10-34 8-91 a ‘ 85 

S-9J ?■» ®' 71 


■ •■3 ?■« 
101. SO 


mvj- cosTOx-m+rm -baxRMst. 9S 
99.50 9*00- ,tf Wl»7 ‘ 


|i.M 9.59 
19-14 9-7J 


:r« '75-nh.iiBisr 9S - j 


is:* 19; i 5TL7. 975 

ca SC 2!B **• 


1979* BCBaXSa.BUllCft.GS- . ' 96 

99-20 9-W 137:6739*11^; 

■ 1975 erssTA* y. : . l{r3 
100.09 10.09 _ 13/11/1981. 

1977 am 34SEB arffc ed 1 ; 97 

loo^io B-7S -l/v 371M4* . ' 

1976 aoHEori- co '••••' '' 101 

100.50 9.50 . V. Hint 


a. Of. 9-57 
3.40 8.79 


’■^iW-OO' 
9 .29 *-84 

7 100-00 


* ■ "‘J"50 

, -• ..1*1978. .1. ' r K~ : 
■.1M W.fp t" . 

*n*» 

; •••*. v-.. se w; ■456931- 

■ -:•••- .■ i -. i . snr - -■• - •“ ..:• • ■■■■ ;.. 

■■' i if ta 'n los 1*8# ... .. . . 

•. - tie •■•* '-• ;/■ d'i-\ 

« ■’ - '.99 -W-io . 49-iOOi.JW • ' - ■ '■ .’ ^ 

*« 97 ?uf • - -- ••• ; - 

JO * l^tRj. TST SB - I si ?£> ' 

fq» . . rt78 •: 1**7. 


^.75 9-28 
5.05 9.3* 
*.09 9-77 
7.17 9-20 


8.96 9.-SI 

. iw.00 


K 197 * - Otf j - ; ■ -■;:><■ 
30 imo .» « ««;•«... vt-’c-'-- 

1«4*IW, Tfc ' • r sS i 

»7* isrf^. » 


;i-- nsi*>trfrHE r.-.-THOIiSitC f| 
!■■*■■■? --■» 10/1481 3 


CB £0 *5d 105 ®6'1 ?;s 

L.*. 

?.t :.t jr« /?:• ®-i *:s 


:•-. or »r =78 ;* «» » i 

*— .%C : . |*ai 5 

7ipisl:c or mstua a* 
«<-;o ^..-i :?/ 3.198® s 

|o'"» psyrs 1 IC OF trpTPr* »'S 

: v .■*- :-■■■• 7 . 9 *4 s 


6.15 

/•jo.sa 

6.95 

’02.GQ 
8-:i 7 .p: 

!*’.ca 


• r : :—j s- a 

:«-» :g-3 i-i: 

■oc i-es sp ra 

I>'» 7971 ULX 

30 KP %T 

1951 5T 


359 29 32 33 3» 
«3 530 85* 927 
■J! 929 940 975 
22? :ii r.o 511 BCS 


17-50 . 5.04 1/ ir.*!3 S 

1960 COKCilVULTB - AC773ALLA 
97-50 5.25 13/ »/H40 5 

I960 OBmnVDU.TR - AC ST* ALIA 
96-00 5.25 1/10/1990 5 

193® eweWRVEALTH - AOS75ALIA 

97.00 5.50 15/ 9/1974 $ 

19*1 effleartr-TALTE - acstk.u.:a 

17. 00 5.50 1/ 7/1981 S 


'.t st ;;s I®; »oj « _ 5 
.v:uc 

;:r -7 i;l '.<!■ ®fl5 ?.l ®'3 


jiraiis os wsiria .a* -■» 

111. 00 *-»:> I;* 7/1912 j 


9.15 9.34 

10|.«® 


20 2.00 5? FT 

i«*~ r»:«3 sr 


>-* 5 .«3 

-.:s 


Comoir.-EALTH - AC STEAL :a 
5.k> 1/ s 


:.:-7 

*-®7 5.80 
:.:3 

403 5.79 


.-A 

I®'S L«". ? 


30 .'J 

i c 7? :»bs 


CCSH3SVEALTH - AUSTRAL LI 
5-50 :/;0'1982 S 



roMios.XALTH - »r:7?ALi* 
5-50 !; i. 1®*5 S 

CaenWEALTE - A 3 STEAL LA 

0.75 l/lii 1985 S 

CanCWVULTB • AC57XAL1A 

6.50 15' 6.’l®82 

COnVXVTALIB - AL’STPAL ZA 

7.50 1/ 9' 196. 

C0KXDOTEALTD - AT STEAL L* 

8.00 1/ */ne: 


i.-~ 3-79 
:-’i 

x.-.O 9.90 


'/7S 1®»? 

>' !.3« 


KT ST Kt 10: 40J ?‘.l ®73 

s® ST A53 105 *05 9-1 475 

ST 

st *M 105 S05 941 975 

S' 1.7 438 105 305 9-1 9'5 
■7 if 

S? S" 453 8-5 9-1 9‘5 
ST 

ST VT *53 105 80S 941 975 
5P ■*: -59 103 805 9il 975 


rL7i4' k 'Iatri* 99 

IV .»0 .9.7 5 l'.; 8/1990 

icr/tLi 1 * or srsrciA >c f 

!/0-« 4-C'O li.-' 7/1932 S 


e.r 3 9-i9 

1C1.50 

5-0? 


30c 3.00 v? r? 

1993 apl®7- IT 

ST ST 
ST 


339 105 314 520 BCS 
941 975 

*58 70 37 33 35 
60 BO* 927 9.*: 
«39 9*0 975 
*59 13 32 33 75 
SO SOS 927 921 
■39 9*0 973 
l *** 


bco. T* '■ ‘ 

8.23 -15/^2/11*4 . ■ 
9.00 'XSf&nfc- 

1st CUlALXAX TtWKS- 

. om 1 ,-- i^^/rttzr--:. 

t SE CASAS LOT «SAfcx 

?.ZO ' 1/ 5/1S84' ‘ 
mom.iAS juant. • • ' 
9.00 I/- 2/1992 

KACHTLIaJ xlohjc.- • 

9-25 Q/^/1993 < 


W'OWMIU! 97 3 i 

lOi'-lO 8.43 15/ 3/1967 

I*-. 3 VOLi'T 9< ■ ■; 

Sh.00 i.'5 23-* IB. 19 a 

m SOLLAPJ-SEtCTTM 


?-:• *.V. 

1C1.CO 

:.:i 


*0 ?.M 4.7. W 

1981 3?!9<3 IT 


*26 23 92 53 60 
KS 927 931 939 
5’5 


BASSEi-sncnaw.rtB 
. *-» IW .1T1J82. 
it&ssQ-mdnuB tso J.v. 

9-50 _ .1/ W1991 . 
asssr-maaorjsAs s-c- 

9.75 • ■••lr-J/lJSJ' 
SCXEU. pOLitaats . 
5?*2» -mi/ira s 


er s: *3 155 313 220 975 


’o ; . 3® 
n :s I *“9 


;n 1.56 
;®'8 1970 


S3 12! 

a? :.r *38 !05 so: ®-; 9"5 
K7LS.5M 

ST 57 -58 105 80S 9*1 975 


l«-7 MATISA S.V. BV 80 ’.S 

IT. -■'•} ».:-0 1/ 7/! 988 

1«’3 KIFISA S.T. r-’ JSl'S 

:(.0-<J0 — *0 1/ 771988 

|«-r- KUTfSA F.V. T 95 3 L 

7J7.% li.- 97 111* 

ia;:* maf:sa s-t. ** ■/; 

*s.« 7.20 :/ ■•1987 


1969 

LX 


U.'.l 

?5 n 
BEL® 

*« ::o z 25 2:2 973 

•f.-JO 

K ED 

*6 1:0 ::s ;:o t:s 

:®si 

■'.AS 

re EJ 
CO 

• *65 «"» 

•9 :ei ;:s :cs ijo 

«5 


j( 6->5 MT 
95.1/4 l*- 55 9 r fl 
101 7/8 3-91 8-41 
103 3/4 7-92 »-« 

” \l:ll VS$ 
it : SiS 5 ; 

n 3/8 » >-* 
■■ 97 1/4 13-01 9>88 
99 7/8 4709 J.7* 


4709 9 .78 
3.49 9-81 


1.42 10. W 
.92 I3.U 


SSEOEEAL BttAS CDK8- 
8.75 HI k/USl 


3.01 8-85 


»-3BL . 9.1X’ 
. 100.50 
9.45- 10-5 e' 

- 101.50. 

8783- -8-2» - 
• 100.00 

9.16 '0-3f‘ 

. I01-QD 
9.47 ' 

101250 

9.75 r 
100-00 
9-06 9-91 

100.00 

9.71 IBM- 
' IM-00 ' 

9 . ft - ®--»f 

_ ieo-00 
V-07 

100.50 
1277 " 


»7* .WT.-M.VL no- 

.■K ‘77t# M3b-*r.r-l- 

■1981 - ' ■» 

00 ?-ntr •»* *6-- 


d984 W1978 IS ■" 


vl¥0« 

~m ; ■ ■ lA- ermt- ■ 

IMt •• -> -43 -r:.-A - ■ *■-' -vV:.. -’T- 


1981 win 4*^... V. r- ^. / 
198* OPlJTJ' 't* . .. 


sea ssmssnx K.p^xpot 
9.M 15f 1/19BJ 

nsTODtsLi&ri-ua htmo 


4.63 8.91 
4.07 8-®2 


19*2 C5 «5 

8.30 n a 3!S Si* 765 
1962 2983 1C 


9.75 U/. 3/1994 

S£>Tan®LAtt WtPlS 


CIBfilOVVrALTE - ACST2ALU 
6.125 ! 5/11/ 1983 5 


/.»» 6.17 
i.:i s.*4 


1976 COWOPfCALTR - ACCTALU 99 1/2 3-01 6.12 §-*6 
100.08 t-ii li 4/1961 S 


COmOSTLALTR - AUSTRALIA 96 1/4 5.3-* 1-tS 8.40 

3.25 1/1®' 198? 

CQKMOSVEALTV - ATfTRALlA 96 3/8 3.51 8-73 8.56 

9.25 1/ 12/198* 5 


C0MK!3ie.-ul7K - AtinX.’iA 91 lit l».:9 *-■ 2 8.36 

f.25 :/ 9. I®-2 1 5-.1 

eownk-DUTii - Ar?n»Ai;» \?i :.o- ».:2 e.«3 

A— 5 !•■/ t. :9?5 » 

CMWrr.TALTE - A/TVLLl ii 7.8 S-i- !.?8 t.CO 

}.*C 1-n l>“: 

CODnr.TALTS - PlSfSALTA ICO 5. 6 5-<3* S-'S 6-66 

8.75 13/ B/i9:3 S 




<4|«0 fcf 


li? 

*»« 





i®.?.s3 

101. 

,50 

198 L IT 











SI* 

w 


««• 








La 







15.00 

■ ft" 7 

fl, 


W *' 

ST 

457 

:o 

13 

?1 

*5 


i:c.m 

100 < 

00 

nej KY 



*.1 

!6! 

-ir? 

*;i 








■3* 

«-0 

9 '5 






K* 

JT 

458 

.1) 

12 

11 

ft" 

921 

5E.eO 








«4C 

“,i 







ID 

143 

*«• 




50.09 

;c -.. 











10: .CO 

!. 

,81 

30 ®? 

ST 

457 



1 ^ 









TV 

*05 

* 

921 








i 

9«0 

r.i 





■ - 1 



U3 

• •• 




81.JS 


1C L- 

10 

1963 l#»3 LI 








inu.ua 




ST 

458 

33 

to 

805 

975 

73-00 



!'•' soe .:37 32 T»HT ISO T 95 2 - 
®0.S3 8.75 l>/:0/19Sl 


S» CQ *6 StO 9»S 

-S 


■; s3'.l.ap: -box 


or ulit'-a 


12.27 !0.03 

IC-.CJ 


83 l-'3 r» TZ 518 21 512 9*0 975 

1782 PT19/S IS 


75 t cLL.\ss-?'.'jrn. 


9.50 I9--I 

u:.53 


L:eLT-5D/:;co3 or u.rr 97 
9.00 ;-|?.!8K 


8.25 1 12/1967 S 


9.U0 1/ 6/1982 8 


j.4- :c.‘<> 
9.79 


comcr^EALTH - ai.tsal:* :oc l/i s.ci i.*7 e.92 

7.7i 1/ 4.1549 S 


Sf fy 1-3 **• 

IX 

T7 ST *58 70 32 33 63 

Ft *3* 92> 931 939 

9*3 

S? ST 4*9 70 22 3 3 cO 

XT fi35 927 911 939 


6?. 03 10 74 OWBSVEALTS - AIT VALIA 99 1/2 13-21 ?.*9 8.79 


y.i.CO 9°. 50 ».If 1,10/19*1 

IV. '33 l®r- OTCUWTALTS - AIT7XALM 97 
lOf-OO 9*. *8 6.575 ./1S/1997 >: 


9.2“ !-!2 

19-81 9-34 9-4* 

:2.!2 9-- 1 0 192.2! 


3.33 
1-S2 
30 *-!5 

1984 1*!3 


s? n u* •** 


::-39 W/o CCSiW-’EAlTE - All-Tap: IA 98 1/1 If. 4--! 9.37 9.46 


75.9-3 99-50 9.00 IS'1I,1«94 5 


30 5.09 

1?91 1 -*- 


75-M 777* TlMMir.tALTt - *' A TEAL LA 99 1/4 14.01 «... 9-*2 ».*9 

r ..* o *B.:.9 *.!23 :/ 4/i:-?5 s n.:. i..7 :o3.?ci 


?0 3.75 

1**1 1540 


C S> L 13117 73 

>.*0 19/ 7/14*0 



CO 77 Of ?AT1 A ST. VISTA 

“.50 14' 3/1983 

BAKTRSLET iDUKlS 

A. 80 1. b 1944 

EAtFPSLTT K!2»WC? 

9.50 1/ 1/1*92 

BAMHSLFT IWV FIS 

S.no 15/11,1987 
KAHEULt? 7RCS FIR 

9.00 1/ 5/1986 

EAKEMLET OOS FTS 

9-50 1/ 9/1983 

RAME9SLET tROR TTB 

10.00 1/ 6/1982 


K KAP77 AO ST) PROPERTIES 
7.75 14/ 9/196* 


*5 

l47» 

-?c :.:o 

l®:? 5 p: i_ 4 
30 |.«C 

1*61 SP197S 
30 : .00 

1445 ari*:9 
23 1.25 

1*90 DPI® T 5 
33 1.00 

1579 0-1-72 
30 1-00 

I960 DP1951 
70 1.40 

1979 3P1976 
.30 
DPI 97 3 


E KAPTi AU3TlFtS 

9.00 1/ 7/1986 


VP ED 416 105 947 960 975 
IX 


Q ^ I «c 


23 2 = 

= a 

VI UJ O =J 


I ilHI . 


2 5 

3 S<n 


BORSOV-tR/ 
COUPON MATURITY 


l § i 3 


sS 53 
l z s z 


CS IKJLLARS-CASADA < 70-7TLSTTD1 


73-00 1976 FROfftSCE - 5ASEATCHT-4S 98 U 4 8.28 9415 8.91 

101.00 8.75 1/ 9/ 1986 

2C.OO 1®«9 QUEBEC RTDW3- ELECTRIC 98 V« 1.38 8.94 8.10 

954)0 8.00 18/ 10/ 1979 

80-00 197! QUEBEC RMO-ELZCTiUC 97 1/4 7.79 9.74 8.48 

1*.*0 97.00 6.25 15/ 3/1986 3.22 8.93 

23.00 1971 QUEBEC KTNO-EJCrrc 15H 98 5/8 B-4« 9.07 8.80 

22.00 100.00 8.50 15/1 1/I9B6 5-74 9-27 


317 — 

Ml 109 980 


97 1/4 7.79 8.74 808 
3.22 8.93 


30 .80 
1981 1972 
30 1-00 
1981 1973 


341 103 320 870 943 
980 


QUEBEC 6TDPO-E2 EE7PJC 1* 95 7/8 
9-50 1/ 1 1- 1*64 


WEB PC BTDBC- ELECT? 1C 
6-70 1/ L/14E9 


9.21 8.87 9.9* 

101.00 
9.05 8.63 10-10 


359 35 105 520 870 
9M 9*1 9*5 965 
975 980 
359 "* 


QUEBEC HTUU 

9.00 V P/r-92 


9.17 

9.60 9-44 


361 109 520 9*5 975 
SCO 


QCEiEC HTPSO-ELF'TT^IC 
9.25 l/iO/l«S5 


QCESEiT Ill-XA.-: CWdTMTT 
9.5(1 15/ */i*42 


REPFATH ian'TPrF-T 

9.00 15/ 9/1989 

SEAC®A1 

*.00 15/ 2/1983 

UP W/LLARS-Oi'-FirR: n 


20.00 1973 REPDELIC OE >»LCIME7A 

13.50 100.00 6-25 1/ .71*88 

05 DQLUB3-DZ30WU: 


1971 CARLSBEEC-TOTreG 
98.50 6.73 1/ *'1986 


1965 enr OF COPnnUiTBJ: 
99.50 6.00 16/11/ 1943 


101 1/S 7.84 
*■63 
94 VS 7.47 
3.97 


8.54 8-«3 8.59 

8-4* 101 -DO 

6.89 6-32 
7.5« 101.00 


6HC 1.00 
19*1 DPI “74 
90C 1-00 
1978 1971 


1967 ■ CIT7 OP COFEBHAGEC 
99-00 6.50 15/ */ 1987 


94 1/2 4.81 
4-&8 


7.16 4.88 
7.90 102.00 


1969 Cm OP COFEOAenr 
97.75 8.00 13/ 9/1984 


99 1/2 6.30 
3.61 


8.09 8.0* 

8-16 I01.S0 


! 720 7?0 733 
955 960 975 
320 720 730 
750 932 941 
960 973 
320 720 730 
750 932 941 
960 *75 
270 520 730 
7 SO 951 960 


13.00 1970 CUT OF COFStUCC! 

10.50 98-00 - 9-00 1/10/1983 

10.00 1977* CO-OP DEBBAm 

10.00 100.00 8. #23 13/10/1984 

15.00 1672 CCTEmiCEa CO BUTT AF7H 

J..D0 97. JO 7.75 15/ 2/1987 


100 7/S 7-34 
*-*B 


95 1/4 6-38 
4.38 


95 1/S B.72 
342 


8.82 9.92 9.19 

8.74 102.00 

9-64- 9.06 
9-99 

8.36 8.13 
8-83 201*30 


520 730 735 
955 960 973 
965 


23.00 1977 COFESHACEH HATED RLSRAAC 

100.00 6.00 18/ 1/1992. 

12.ro 1*6* COPE3HACE32 TELE? OWE 
4.80 99.30 3.75 12/ 2/1984 


96 7/8 3-64 

97 3-71 


9.02 8.25 
6-39 5.93 


313 105 520 715 730 
733 730 932 953 
*60 975 
132 936 965 


«0 .80 
1978 1970 


196* COTW9ACES TTLIFF06E 
100.00 3.7S 1/ 7/1984 


315 103 320 720 735 
750 9*1 953 960 
973 


30 1.00 

1978 1970 


1967 COnSTHAGEE TELIT BASE 
98 -00 6-75 15/10/1982 


97 3/4 4.38 
2-38 


30 1-00 

1978 1973 


310 720 730 
750 9*1 955 
«»5 

320 730 735 
9*1 955 960 


[966 OOFeHHACEK TEL EP ROSE 
90.75 6-75 1/ */ 1984 


98 3/8 7-B* 
•*.35 


1971 COnSHACES TELBPRCWE 100 

100.00 8-50 1/ 2/1986 

1*70 COPEVRACEB TELBPRflE 100 

190.00 9.00 15,' 4/1985 

1977* BE3 PAMKZ PFOaSSBASxa 97 

laa.ui n.15 15/ ;/ifsj 

196* DEDUPE - ASS MUM CLP AL M 
99.25 5.75 »/ 6/196* 


100 1/4 7.68 
4.45 


100 3/4 4.88 
A. 07 




30 

•66 

KP 

a 

72 

ire 

520 7)0 

735 

101 

■so 

1978 

1972 

KT 



750 

941 955 

960 








975 



9 

.15 

30 

1.05 

HP 

EH 

72 

105 

SJO 730 

735 

101 

■ 50 

1980 

1973 

LX 



750 

955 960 

975 

*, 

.29 

30 

.70 

HP 

ED 

72 

105 

520 IX 

735 

101. 

■ SO 

1980 

1972 

LX 



750 

■55 960 

975 


8-31 9.86 

mo .00 


96 1/2 6.08 
3-31 


360 

1980 

40C 1-03 

1979 1970 


196* DOaURT - BW1BACE 5ASX 93 1/2 5.79 


5.625 15/ 3/198* S 


9CC .80 
1978 1470 


1966 DEBKARK - WRTGACS ELAOTC 94 5/8 7.66 
96.50 6.2S 25/ 1/1986 4-IS 


9 DC -64 
1974 1969 


1967 ponum - VDEnUGE BABE 9B 1/2 3.79 
97.00 6.75 28/ 2/1M2 2.25 


90C 1.00 

1979 1969 


1968 DBBMBE - HOBIBACE BABB 100 
97.75 7.25 1/ 3/1980 


7.25 7.36 

100.00 


30 1-50 

1978 1969 - 


1972 aBMUE - TOTCACE BABE 91 3/8 12.59 
97.50 7-30 1/ 1/1991 8.21 

1976 BEWARE - KOUCAGE BASK 100 3/4 4.84 
49.00 9.00 1/ 4/1963 

1478* EL8AM —JUTLAND RTO E C 96 1/2 6.79 
99.38 P.DO 15/ 3/1985 


8. 21 

101.75 
8. *3 8.83 

I OP. SO 

9.33 10.37 
101.00 


STO 720 "JO 
730 953 9*1 
1 960 975 
320 720 730 
750 932 941 
960 975 
520 720 730 
750 9 32 ®4l 
960 973 
310 720 730 
750 932 941 
960 975 
270 320 720 
735 750 9*1 
960 975 


30 -30 

1981 DPI 976 


1964 JOTLAKD- ROVES ELECTRIC 
98.75 5.75 15/ 9/ 1984 


*OC .77 
1978 1972 


720 730 735 
932 9S5 960 


1966 JDTLAJD TELEFBDBE 94 

88.00 5.75 1/ 5/1984 S 

1964 EEKDflH OF BERXABr 98 

98.50 5.50 8/ *.'1984 


9* 1/0 9-92 
3.43 

94 J:“ 


90C .33 

1978 1970 
ATT 1.66 

1979 1970 


570 720 730 
750 932 9*1 
463 973 
730 735 932 
960 965 975 


19/2 Kroner op detrabe 


25.20 

9®.00 

7.50 

15/ L/ 1990 

100.00 

197# 

UKRam or deburt 

96.00 

■9.00 

8.50 

1/10/ 1 98a 

20.00 

1970 

(EO® OF DOKURK 

10-00 

im.oo 

9.00 

1/ 3/1983 

20-QD 

1970 

nsernei OP BFKXAKF 

14.00 

99-25 

9-25 

1/12/1905 

8-M 

196* 

TOrmiAPT r-temcirr 

1-60 

99-00 

S.7S 

36/ 6/ 1919 

30-00 

1977 

100-00 

PRIDATBAinBI 

8.00 15/ i/1984 

'23.00 

1977 

100.00 

8FASECASE8V MS 

8.23 15/ 3/19U 


97 

3/B 

7.04 

A. 47 

6. 14 



30 

1-1) 

HP 



J-Jy 

6.86 



71.25 

1970 

1971 

FT 

90 

V* 

4.26 

7-0“ 

6-S-. 



30 

7-JO 

KP 



2. JO 

7.J7 



51.00 

1978 

197 2 

ST 

9* 

l/i 

11.63 

8-J8 

7. Si 



30 

1.60 

BP 



7.15 

8.0/1 



53-00 

1*01 DPI®76 

LX 

98 

S/8 

6. J* 

R.78 

8.62 


9.07 

JOC 

3-00 

VP 



5-79 

B.01 



51.00 

1963 1 

Jr 1977 

LX 

101 

VB 

3-75 

8.46 

8.66 


6. #4 

•MC 

2.00 

XT 



2.3? 

8-27 



50.00 

1979 DP 1972 

KT 


520 720 730 
750 932 9*1 
960 975 
570 'SO 730 
750 932 9*1 
9*0 *75 
531 720 730 
ISO *12 411 

9« s;a 


9.11 9-3S 

102.00 


30 1.50 

1979 BTWK 


98 3/8 1-08 7-35 5.84 
.58 8.76 

9) 1/1 S-M 9-57 8-39 
9/ 1/4 3.79 9*12 8.48 


4AI *05 5» 730 730 
735 730 955 9*0 

975 

52; 105 520 721) 730 
795 750 955 540 
975 

3*6 105 320 r;a ra 

733 955 960 975 
230 '** 


331 >17 Ui *W Ifl 


9'.lG 5.L3 \i ;■:?.!* 

T«ra lEFCllIC OP SfAZIL 

wo.:o 10. jo :s ’ j/ws* s 
75 


*.JJ !r.73 
1C 1.50 

13.D7 


pew 3J »c« t:» 

7rii LX 36J JIS H- 9-0 

•■-7 r: ?■: 
«C !H“* 

■JT 

1.7; s* r* ™ : 9'.- la « 

!?!! ;«;3 5? 

ST SJ *13 ?’ 33 47 835 

ST “75 927 93:5*0 

5' 3 

e?C 5T IF Jl' »** 

Iril II 

V? KT 413 23 I! 5^ 9^ 

Pri577 KT “27 940 


5I>TQTM>LA3B STB- m 
I 9.25 - 15/- 9/1988 
5DBASDA MltS ' - 

9.75; . 1/11/1880 . 
DKTASJO SOTO 7- 
8-00 Of 4/M7 
OTABIO PTT*fi 

8125. 33t. 3/1983 . 

QSTAB10 HTtfeiELECTklC 
B-2S- 15/ 1/1986 

OKTABIO HTSia. 

B.Sa . . 17 6/19B3. 
0UTAAIO fllBO- ■ 

e-50 10/J/1M6 

JST4R10 HEKLO, . 

. 9.05 J5/,«/iW0 

asxA'io Knad ' . 

9. 30. . !/ 1/1983 

oTTA^A-ciiLen; ■ 

9.50, 15/3/1890 

J0L7SAS • 

S.SO . , 15/ li/ 1956 
POL TSAR CTO : ■ ' * ‘ 
10-00. • is/. 1/1982 
PSOTTSCE « HttilDB* . 


103 l.’T 7.79 9.M 
95 3'8 10-W 9.49 


8- 98 ". 

. - 101-00 

9- 42 9-59 

101-00 


9.40 »i« 

ioi. do 


2.42 *.«1 
S .88 8 -®6 


i.M 8-6* 


7.43 9—4 
4.1 J 8-58 
1.01 4.10 


E-28 8-97 
:.M 8-84 


11.79 8.9# 
7.37 F. 76 
6.55 9-17 


1®’* AL3U..UI LO OF CATLUJA 102 1/4 

•v-.;n 7.5J ;5- a/igjj 


i*'4 atco r;s 5av-c.ix.o* 
iOO-CO 4. 25 1!/ 9/1*63 


BP XT *57 TO 32 33 IS 

KT 60 Ar* 93 " 911 

93® 9-0 ®75 

S® SY 457 70 12 17 IS 

VT 90 SPJ 427 931 

6 10 0,0 07;. 

KP ST 4*8 M 32 11 35 

BY 67'3 925 “31 

014 «*C “I? 

B« K 359 105 9#0 9«S 475 

LK 

KP ZU 359 l*)S «I5 9*1 960 

IV “65 975 

se « *56 *“ 

IX 

5C Of 4J6 •** 

LX 

PC ED 45# 103 927 941 960 

LS 971 

PC ED *56 105 927 941 960 

LX «?5 

FC ED *56 1QS 927 941 940 

LX 975 

PC ED 456 105 520 927 941 

LX 8*0 975 

PC CD 418 105 960 979 

LX 


>77 SELL-CASAD* 
loti.eo 7.75 1/ 5/2967 


>:■> SELL- LA* ADA 

103-75 U.-5 13/ 7/1986 


I® '6 STLL-CAXiCA 96 

““.25 8.75 U 4/7806 8 

:«-2 F7X4CAK :*T 95 3/S 

10F .-:-a P.7S 1/10/1997 

'.“76 SEUCAS JET 101 

IOn.PO 4.75 1/ */ 1952 

>7? »ht:t C0LCT1BI*. KTTXO 93 1/4 

101-00 7.75 r' 5*1985 

IJ-f BOiO A7T0 CO OF CANADA 102 5/8 

S'.TO 9.50 15/ l“6J 

I “73* C AKAJM 98 1/S 

KCi.2'3 6.00 U 4/1983 I 

1®;»* CVTADA 98 

100-00 6.20 1/10/1985 8 

1973* CAXADA H 

99.75 8.625 1/ 4/1998 8 

1978* CAEADAIX 99 1/4 

99.00 8.50 15/ 6/1983 

1976 C48AD1AB HAT 1AIL CO 9J 7/8 

2 00.00 8-375 15/11/1986 

1977“ CAN AD LAS PAaPYC-SEBXDDA 97 5/1 
100.50 8.25 1/ 1/1984 


f.:> A.ii 
1C1.JC 
“.ji “.;j 
::l.co 
».:< 4 .:- 

103.J9 
8.7* £.«. 

U2.73 
?-i5 
131.20 

9-62 

:02.S0 

9.55 


3® ;.*T 

1®P2 3P197S 
20 !>C4 

I<=S1 071974 


4!2 3! 12! 935 940 
9*7 973 
163 «• 


psottsce « Httiiim* 

8.75- 15a 6/ 1983 

PROVINCE OP MAXI 1PM ■ 
9.2S 30/. 4/1985 

PBOTKC® — YE9 BICBSLKX 
8-30 15/ 7/198* 

PSOTZBCE •- stn urasna; 
s:?» 13/12/ M 79 


J.6J 8-®6 
i.BB 8.50 


pmnscE - nw BRPvjsncx 
6*75 1/--8/1483 


1“91 

i.n 

1930 !•*! 

l.r® 
ST1977 


PRO VEX E OF HB TOM D L A23 
. 8.50 2/ 3/1906 


8.71 

10! .M 
9.35 i.‘i 
100.50 

3.32 


3® 

l®*2 

23 ’..60 

198 L mS77 


198 n 9:® 9*1 960 

as 9»c 

b* :?3 915 9*5 

?S2 9-' 9!7 
5!? •** 


PBOFTSCE OP KSHKCXDLA3S 
9-00.,. • 15/ 2/1989 
PWJVIMCE' (Hr K£HPPG»LA!0 
.9^5. . 1/ -6/19913 

MtOVl SCE er ADI A fCPLU 
4 -OP IV 5/ IMS 
FRORIBCE Of OSlAJUO 

8.20 15/ 6/1932 S 

.twists cf anaxia • 
9-125 15/ 6/1005 s 
EEDVQCiJ Of QUEBEC 
7.30 15/ ‘ 1/1986 


8 .54 8.30 

I0C.C5 


*85 JOS »T0 S2C 975 ' 
963 r.i 

459 23 13 35 63 
931 940 990 
459 70 35 15 6Q 
• 931 9-0 969 


SOO I ■'- 2-W 8 "** 

lilt! 2 r ‘■■79 8.B 7 

»« 3 3 ’riir 

ion 5,-8 6 *>j 9-17 

1P3 J.6J 8-®6 

100 S78 4.88 8.58 

105 172 «.®2 8.55 
-.93 8.35 
*6 *.8 6-13 8.73 

lCB 1-SS 8-W 
1.05 6-7* 
•• 1 '- !■!’ 8.*0 

“9 T.T6 P.47 

..•4 8.78 

95 :•> li'.74 9.M 

9® ;> ii-oi 9-37 

I«i A.#* 'B.'P 


9-16 8.5® 

iu2.no 
9.44 “.74 

102.0Q 

9.71 


■ ^ 1.65 if.tB- : ■? ;y.-. 
I98s'wi979- U. 

» : 1 .50 tc vr ’W 9*fc4?9 W-v 

1979 -WlSTT - AH . .•‘if.--. •>-. - * Jtjrt 51 - 

i.so tom. ■«*» &*_ 

1980 0P1°74 BN ' ’ ‘ 

mc/ i-oo srrt-; !s .‘.’«»’-r7Vr-=v; 

1970 I960 «■ . . ; ^ r . • 

jp n -sir***. ■ • 

•• ■ - Vtx . ■■* 1 

- l.-nD SC E5 412 V* " ~ -■- 

H80’W1977'‘.LX l. r , . --.Vf, ; 

U • .75 ‘SO ED -856- 33 WS,^ 9» ' 
immrr -u- — _9M »»W w 
,mn . 1 .: .9*0 975 98(1 ---, 

60 ■ 1.75- St' HI 

1982 771977 LX 

• • 2B -".6* - I0S 945.973,9*8 . 

• U . j " ■ 

SG 10 ;143 *” . 

L8 .'. - 

■ . * sc If ’ 143 •»*. I. 1 " *?-'<>: • ' 

. Ur.-- ; - . -•• ..= t=- 

»0C 3-50 W 18 ,1*3 205 P9S- 526.070 

1979 1977 .UC.-'' J.WWW w : 

■ . , ..t*. : 

■ .. SS cs 5- (•' .i - 

ix ... . ■ 

■ -i “iC-EB I*S •*•■■■ ■ ' 

“ v. ■ <-:% 

. .. SS ED 113 •.'•4 1 • • 

• • ••* -.1 ill — 

99 • S.19 - » ES 84 105 *95 ftO-ffll 


MG- st. is t4*105 «y 

1981 LK •; , ®43,j« KU'.«ap ■ 

B 9 ID ' : 4 A “*■ - T • ..' ■■ ' ' 


6.®: 8-?5 
—9: 8-35 
6.13 8-73 


I.S5 B-W 
1.05 .6-7* 
2 -1 • B.«0 


T .76 P.47 
-.-A 8-78 
10.72 9.W 


8- 94 8.19 

- 102.00 
3.78 9.J7- 

HIT. no 

(.» 

.. 101.03 
8.7’ 4-79 

101.00 
8.59 9.73 

• 102.50 
9.13 4-55 

. 101.00 

9- 13 9-« 

fri.oo 


*.«* ‘A-'U 
.-2® 8-J2 
-.0. 6-72 


9.91 a-*J 
102.50 


27.04 9.38 


9.63 8i96 
7.15 9-12 


8.17 B. 81 
• 100-00 
9-36 9-97 

103.45 

8.26 

101.90 


9-27 9.19 
9.1B 8.74 


9.19 9.16 

100.00 


*19 20 >3 33- 60 
931 919 960 


8.74 1.72 

101.00 

141 8-96 

100.00 


1970 CUT OF W9TPXA1 101 1/8 

100.00 4.00 1/ 2/198' 


8.81 8.69 

101.00 


30 

198} 

60 2.70 

1982 081978 
30 1.00 

1980 1971 


341 IBS 945 975 980 


7-80 100.00 
60. CO 1977* 


1976 MOTT5CB OP (H7EBEC 
100-Ce 8-50 .',1/ 4/1981 

1976 7E0rrKCR Of OtOBEC 
100-00 9.0V- IV-4/I983 

1976 PE077XC&OP rnSBEC 
100.00 9.00 1; 4/1984 

1970 FECTOCE or ODBEC 
100.00 9.00 U V 1985 


■9 1/8 2.84 8.04 
99 3/8 A.03 9.15 
«? 1/4 5. 84 9.16 


■ 1 .00 S? ET - 64 105 9*J 958.“8*:-'- 
. 891978 LK : • _1 v ^ - v^. ; '-'7. 

kp eh. - 6* *** • " - 

LS. ; _ ■•; -••;, 

90 3-00 sp ED ". 4* 105 9*3 W910 : 

1980 1981 tf ( | T.-- . 

4*M HP to - SIT . ,.T_ . 

1981 . L« ' --.v ' •■’V/T ■' 

■30 . 2.00: 5? ED 3M 720 9T5-«0 

1978 -.-1*70 LX -7-t ' 

i*c kp ts ' ;:7 ■** >- 

i960 ix . 

90.. I.m'k? C3-344 lOSiiS^liM . 

.19*1 l®:: it \ ,. - • "■ v : ri 

45 ’ ’■ ■ u>t sp tn » 4* ■** - • ' •■■.• ' . 

19P3 PF1978 17. V 

3.13 5P tu -723 •■*••• r “ • 
198* rri®7® LX -> - 

: »0- l.M XP « '3*6 MS 9i3 *»M0 ■ 

1980 1971 LX 

■'30 f ’ IL ftT 42S. 60 803 951 

lost st - 

■90. '• • CL ST *79 93t" 

1990 KT - .V 1 : • 

3D 1.09' 5TP "EC 359 3S‘lM 2>? 

19B1 1976 LX ' flO'lM • 

•/ ' . ‘ 980 .' -J"::*. .. 

SMB 3»*** ■ ; * 

U • 


SD. *“* . 

LX . .V. ’ 


6.73 9-19 
4-33 9.29 


1977* rlDVEXH OP 0CT3EC 
99J0 5.00 L/H'1995 


9* 1/4 IT . K 9.#8 
9-31 9-94 


9.07 9.33 

100-73 
9-0® • 

102.00 

9-55 10412 

101.00 


HP ED 259 «■*. 

ix . x : ’ 

.90 SrC 26MCS94S »» *«P 
1971 LX . 

?.,0 ST W r.P:*» ' -j- ■ 

197a Si . -• ■ . -.-i 


ells I s 


BOBROWER 7 ’ 
COUPON MATUHftY 


I H S 

£ jS o 


5 as 


!!& 
la u 
f ! I * 


0 g ‘ 




M 4 lD 1 

I ““I 



BORROWER/ 
COUPON MATURITY 


MARKET 

MAKERS 


CS DOLLAR I -FOLAKD 


OS MUAH5-7BAHCE f CD7.T T77LZD) 


15410 1971 CUT OP 8EL9XKI 100 

10-00 99.50 8.75 43/11/1956 8 


8.4C 8.94 1.94 9-47 

4.81 8.94 102.00 


30-oa 1977 roso-c urzar 

100.00 8-25 / 13/ 2/1984 

20-00 1975 BSD-cinxbT 

99-00 9.79 5/ 5/1982 


96 7/8 5.72 8.M 8.52 
101 5/8 '3.93 9-23 9 09 


359 105-520 709 715 
715 735 7*5 955 
960 975 
517«« 


1976 SLZCIUCra OK PlAECB I0O-5/B 4-63 8.89 
100.00 8.875 15/ 1/1981 S 


9411 8-85 

100-00 


1976 UCTUCUB DE PRASCE 99 3/8 8-30 9.21 
1004» 8.90 15/ 9/1966 E 


20-00 1972 nSLAStf- IB) mce IAKX 96 1/4 9 JJ J-M 8.31 

17-50 100.30 1.00 15/12/1987 6.80 8*75 102.00 


30C .50 

1980 DP 1973 



101 

.ca 

1987 PF197B 

LX 




12.00 

9 -PS 

e 

.3* 

30 .*0 

V. EU 

3S9 105 

945 

980 

1.20 


102, 

.00 

1980 1*71 

LX 




15.00 

9. *2 



1.50 

N? ED 

210 US 

945 

980 

10. SO 




I960 

LX 




20. JO 

9.tD 



70 

KP IB 

66 *** 



19.00 


101 

.00 

1992 

LS 




20-00 

8.92 

e 

.'0 

}-3 

SP ED 

316 •»* 



20.00 


iOO 

. to 

IPAl 

U 












. IS .00 

S.#7 

9 

■S9 

10 .50 

DP KT 

399 915 

9 2D 

973 

20 .00 


1CJ. 

■00 

1983 1*74 

KT 













15-00 


25-00 1977* FI»LA*D - ODUST TO® 

23-00. 100.00 1.25 18/ 9/1987 

25.00 HTt FTKABD - Hum FT FUND 

2540 100.00 ®-00 11/ 9/ 1 “84 

12.00 1467 I7VLASD MOBTCACK BASK 

1-20 9®. 88 7-25 15/ 6/ 14* 


96 1/4 9-30 MS 8.57 

,4.15 9-06 102.00 

100 1/8 6-20 8.96 8.99 

3-66 8.95 103.00 

99 3.'8 .RB 7. S3 7.41 


60C 3.75 

1981 INI 


230 KS 520 705 715 
725 735 745 Ml 
930 953 960 975 
43* 105 520 705 715 
723 735 745 950 
955 960 973 
179 **• 


9-16 4-j* 

100 -0Q 


1977 nr AQOUAXFE 98 7/8 6-88 8.87 

100.00 8.25 15/ 4/1935 

1977 tLRXDKE 7 96 3-72 8.79 

•9.50 7.50 IV 2/1982 

1965 PMKCAIXE DES • PETROUS , 96 1/*., 7.38.' , 7414 

90:25. - 6.00 15/10/1905 T- . ^‘*.18 . 7.*9 


3-72 8.79 


8.52 9.35 

100.50 

7-81 


645 20 32 33 35 
60 ZQ3 805 S2T 
931 939 W975 
4*3 20 -3X 33 .39-- 
.60 B» 805927 
93! 939 9*0 975 . 
165 *«» 


^15 870 932 


. 6.37 • - 

181.25 , 


1975 RHA9CA18E DES TETFOIES 190 3/8 3.63 . 
100 4(0 9.00 15/ 1/19B2 . 


.1*78 DPI 90S 


93,303 205. 
520 540 , 
975 
93 


1971 TTJLA5D WfTOACE EASE 


98 7/8 7.72 849 8.78 

4^*7 1.99 102.00 


1476 FlXLAMl M0ETCAG7 BAST 
100.00 *.2J 1/ 4/1S43 


iOO :.'2 «.B4 9.10 9-20 “.6® 

3-61 9-06 101.50 


33 105 520 715 725 
735 935 9b0 975 
35 105 520 705 713 
725 7J5 745 935 
960 913 
408 "" 


1977* 8.X.S. 

100.00 9-00 I5/J2/1980 

1976 C.I.S. 

99-75 9.25 IV 4/1933 


I" 991/8 2.55 


1475 7U7I. A/D MOKToAiTF BAKE 


101 'J 2 3.58 0.11 9.61 

2.85 9.1) 103.00 


*J 14X1 
I" 78 Of IMS 


100 i/8 2.21 1-89 9.19 P.6) 

100- M 


197# ICtVTiR EXPORT CREDIT 
-94.00 9-2? 15/ 7/1981 

1«72 rtwisH mrnerPAL loai 
99.50 x-li IV 1/ 1467 

197* Pimsn snscirAL loam 
98.00 8.75 1/ 2/m® 

1*72 OaronJHFO 
98-00 J-50 1/ ti 1979 


ICO 3/4 2-72 8 -89 9-18 8-71 

100.00 


96 5/8 8.79 841 1.54 

54:* 9.03 IQ2.00 

97 7'8 10.68 *416 8.96 9.92 

7.73 9-13 1024)0 

94 1/4 .68 8.59- 7.36 


30 

1900 

JO -75 

I960 QR1975 
)0C .18 
1982 DP 19 75 


315 105 520 70S 713 
725 7*5 “11 9 JO 
932 95' 9*0 47S 
412 105 520 7®5 '15 
7:« 735 74S 9 JO 
*40 973 
46 *•* 


BAZ DE FRA.eCf 

I 4.00 15/ 3/1585 

LE SI cm. 

1 9.00 15/ 5/ 1486 

KTCHELIV 

I 7.50 IV 2/19EB 

mcazxxv 

i 4-25 13/ 3/1986 

RUXSLIH 0*5643 

8.30 15/ 9/1983 

tnc&mx or star 

9-25 15/ 9/1988 


102: . -6.tr 

* ..'3.91 

98 7-96 
. 4.87 

91 - 9-72 

7.84 

101 1/4 7.79 
8.79 

99 3/8 5 JO 


8.82 4.7* 

102.00 

9.18 

101.50 

8.24 

102-00 
9.14 4-03 

101.00 

8.55 


60 - 9.00 
2988 j 1981 

20 r r.33 
I960 DP 1971 
*5- f.50 

1979 DP1974 


39* 300 930 
jl7 103 205 : 


W 2.00 

1980 DPI974 

60 2.50 

1981 DPI977 


935 960 1 

92 103 SOS 
520 960 ' 

9* 105 204 
- 5*0 960 1 

93 *** 


nr 


13.00 1971 PB2ZH4 Of 

10.90 98-50 0.75 


99 3/4 8.31 8.78 8. 
34)7 8.80 


60 1.00 
1980 1973 


10.00 1964 BAffiA-ftEPOlA 

l./O 96.25 6.50 7/10/1979 

8.i)0 )4M BADTWrom or 

1.48 .98.50 6.25 23/ 6/1979 

15-00 1976 BADUZOTEZZ Of 

16.2* 1004X1 9.00 1/11/1983 

13-00 1964 REPUBLIC 07 PIELAJD 

7-50 97.50 6.00 1/12/1179 


•3 3 / I 1.36 T.93 6.72 

8 .87 8-63 100-23 

98 J/2 1J7» 7.89 6-45 

E .57 9-12 

9 * :;a 5.12 9.01 9411 «.r 7 

4.68 94)2 101.00 


(OT .83 
1978 1968 

.72 
1969 
JOC .71 
19*1 1977 


113 »0 70S 
725 7 35 7*3 
960 973 
520 705 715 
7)5 7*5 955 
975 

STD 7tS 725 
955 960 973 
520 215 723 
®55 9®Q 975 
745 960 


RATIONALE 06 L'EKVtCIC 
■ 9.25 »/ 6/1985 


. 1DL-3/H lP.^O 
9.3) 

KH 3/8 6.92 


SAHCMALZ DES AUTO 
8-50 15/11/1986 


SATIOTALE OES ADTOtrOCTES 
9.00 1/ 5/l«6 6 


96 7/8 8.66 
D-*6 
09.3/2 7-94 


9-12 : ?^8- 

101.25 

9.12 t‘ii 
101.00 
8.77 


HA TUBULE BEK ADTODOPYTS 
9.125 15/ V 1997 j 


97 1/2 18-7* 

11. M 


9.DS -9.50 
101.00 
9.58 9.87 

102.61 


*» l/i 1.51 7.J8 6.20 

■76 8 .0* 100.50 


1965 KPCK.IC OF F28LAJ® 
99.00 6.50 15/10/1980 


98 J.-8 2-18 7.J8 6.7! 

1-38 7.91 101.00 


» .63 

1978 1949 


1976 REPUBLIC OP PTRLASU *p 1/A 1.5} 8-63 1-18 

99.70 7.873 IVU,'I®8I S 


®o-m> I*;?* rootjic nr ttkiaso 

50.00 96. Jj 8.75 LX 10/1992 8 

25.00 1*?B- TVO FCATR 

200.00 8-875 V 5/1988 

ITS DOLLARS- TRW E 


95 1/3 14.38 9.5* 9.37 9.81 

9-8B 9-#A 101.65 

97 l/> 9.92 9*? 9.10 ^ ^ 


» 5.00 
1987 DPI98.1 
45 . 2-JO 
1980 PP1979 


406. IDS 520 7IS 725 
U> 745 *S1 960 
97N 

404 195 520 715 P2S 
7)) 745 955 9 TO 
975 

413 1! 33 35 60 
?!> 725 “J7 9J1 
93* 940 97S 

485 *** 


1976 HAIlar-ALE OES AUTO CODIES 
100-00 9.25 9' */ | “9 | 

1967 BATUMLE OCT Tn ECi®9f 
99.00 6.75 1/11/ 1982 


•30 ,4.08 

1962 D7I9B4 
•0 - 1.60 
19B0 ni976 
6.00 
' 1982 
M ti50 
1W1 PP197I 
M .7-10 
1989 DP1983 


99 3/4 U-38 


97 V* 4-4I 
2-55 


9-27 ®.®3 

10 ’.25 
6-91 '■ 

100. SO 


1976 HAX70HUE PES Tn.DM>« 
100.00 7.90 ' I/12/1VA! S 


98 1/4 3.51 


W 5.00 
1*81 1982 

30 • 2.9* 
19/8.. .1971 


rr.vx *n . 20 32 S3 35 
5V 60 J03.8D5 927 

*31 939 940 975 
0! IB- 152 «« 

LZ 


CC ED 554 S 15 230 735 
LX 745 9*0 


1*71 RATIONALE OK TfLELCT. 
98.(10 8.00 1/ */W.. 

1*77* KAIWILILE BE.: Tn Fujmi 
99.50 8.25 !•* 10/1*89 

197# SATIUBALE DES T& fx/MR 
100.00 8 .87 j I®/ 2/1*84 s 


99 1/4 7.75 
4.25 


9A VI 11.3* 
9.17 

ICS 1/2 ‘5.72 


1978 AEROFOCT DT PAR 1C 
99.2S 9-PO U/ 4/1935 

1975 ATP TRANCE 
99.50 9-50 18/ 2/1)82 


100 5/8 9M . 8-87 
i.lt 8.82 


101 1/2 3-73 

2.41 1.81 


8.94 90 1.00 CC ED 

10J.ro 1*78 DPI*"] LX 

9.56 8.55 JO J.-n or. CO 

101.00 1979 1977 LX 


iw a»ie ermotK 

99.50 6.75 15/ 3/1982 

I*;* B.F.c.r. 

99-2J. 8.375 15/ 3/l®81 


95 3'8 3.79 8-20 
2.37 9-M 
99 3/8 2-79 8.51 
1-8* 8.58 


7.08 °n :.I7 SP ED 

101-30 19ft I9:i IX 


105 10* 37* 210 215 
S79 960 »») 

10S 10! JIO 21 * 

305 *:n *»r, #30 
9)5 *60 *7.5 
93 105 705 JIO 21® 
SJO 540 941 *75 
117 ins :lo ;i5 

5P® 930 975 


i®7«4 fumr-AiE oes mEraa 
99-50 9.09 l'.P L'l u «l 

1*7-, XATfQI.ALC P70 Itl'-NW 
9“.JHI 9-123 13' 37 I “80 


46 5/4 14.96 
101- 1.79 


5AII0KM.E DES mi4!« 
®-w i/i:/i9«* s 


98 1/4.18.51 
! '11.58 


PreHtvrr -.j 

!.nn 15/ 12/I9BS 

PEGBIHET 1ST 

9.75 15/ 10/! 9*0 


99 1/2- »-“S 
4.68 


181 1/2 2-38 


1976 B.r.C.F. 
100.00 8.95 


13/ 2/1M3 
IV 7/1983 S 


IM 1/8 *- 73 t.70 
3x89 8-70 


100 3/4 5.13 8.95 


9-08 6.91 » 

100.00 I9B2 


1975 B.P.C.B. 100 1/2 J-** 8-82 

100-09 9.00 26/ 3/1982 2.90 8-79 

1974 8.P-C.E- 100 : / 2 10.79 8-9S 

99.75 9.00 IV 3/19P9 T.10 8-SO 

1975 B.F.C.E- 100 3/4 1.96 >"» 

100.00 9.125 IS/ 5/1980 E 

1977® aqoz SATTOSALE DE PARIS 97 1/2 4.U 8.36 
100.00 7-625 19/ 7/19B2 


100 1/2 10.79 8-92 
7.10 8 JO 


100 3/4 1.96 8 .69 


8.96 9-49 30 

102-00 1919 

8- 96 5-42 60 

102.00 1*81 

9- 36 P.’4 30 

100.00 1979 

7.82 


361 20 33 91 35 
6D *<H 977 931 
•)9 9*0 *75 
105 •** 


i*J* ports Au:o.-awtci 
99-00 .®.Q® 1 5/ 11/1*9 1 

1967 SEHAULT 

97.01P 6.75 1/ 0/1982 

1976 BEttULT ACCETTAECR 
100.00 8.75- 15/6/198! 

197# RH0VF-. PODLEMC 


98 3/8 13-46 
8.96 

98 1/4 4-17 
- 2 aU 
100 1/4 3.04 


ED 

117 

105 

JOS 

210 

213 

Im.oo 

0. 

.75 

U 9/IMJ 



STO 

975 


30-W 

19AT 

E-K-C. 

,r. 

FY 

saa 




i6.oa 

98.50 

6. 

■50 

IV 6/190S 

ED 

92 1 

. ►* 



45.00 

1*77* 

9.H.C. 

.r. 






100.00 

B. 

,25 

15/12/1984 

ED 

92 

to; 

315 

730 

213 

1976 

S.H.C. 

,P. 

10/ 4/1983 

270 

520 

9)0 

933 

99-25 

8. 

,75 


95 1/4 3.26 


90 1/0 7-M 
3.3* 


98 6-53 8.63 

100 3/8 ■* -W *0.6* 


C.C.C.E. 

l 10.25 15/ 11/1980 


C-C.C.E- 

10.25 15/11/1982 

CM UWW ACR5 DE F1ATCB 
8.325 1/ 4/1981 


206 t-SI 9.09 
4.46 9*16 9. 88 
2.84 8.56 8.42 


I/U/I99I S 


90.3/0 14.51- 
-20-01 


102.00 

1979 

».;o 

TOC 

102.00 

1®F» 

8-*l ‘ 

3fl 

100.00 

1982 

9.R7 

6nr 

101.00 

1966 

, «.®6 

. ?n 

f 02 .74 1 

' 1068 ' 

9.55 

AS 

101.1)0 

1980 : 

■ 6.72 

• 31 

100.50 

1970 

10.12 

90 

102.25 

1931 


30 

102-00 - 

1978 

30 

103.00 

197* 

R.:g 

30 

100.00 

1962 

B-RI 

10 

ion .oa 

1962 

9.62 

in 

102-08 

1907 


U7 1R5 :0» 210 215 
520 540 805 9*1 

'*45 2 0 32 3 3 00 
205 80S 927 9)1 
919 9?S 

93 IQS -205-270 lli 
■ 510 960 973 
165 *** 


445 20 32 J3 33 
K 205 80S 427 
... 9)1 939 940 573 
1S5 *»* 


32 33 33 
»5 805 927 
939 940 9/5 
■ 32 32 15 
20? 905 927 
*39 94Q 975 
203 210 215 
960 975 


205 210 215 
303 520 540 
960 975 ‘ 


92 103 205 210 213 
S20 543 941 975 
4o: •ta- 


las ire 205 210 215 
5=9 5*0 80S 961 

218 i** 


92 204 210 215 220 


8.S.C.F. 

. 9-125 15 / 4/1980 S 


Ml , 1-M 


CUfESTS LAFARGE 

8-73 23/ 2/1956 


2-30 T.7« 
IJ* 0.9/ 
7^ 9-90 
3J5 8.97 

8J# * 2‘ZS 

4.1* 9-*6 
■•39 0.*3 


s.F-e.r. 

9-2S 15/ 3/I9S1 


1 01 V* 2-79 
2-71 


120 

101-75 1970 


.95 KR LO 
19/2 IX 


103 105 2DS 210 213 
510 5*0 960 975 


9-®9 10.6# 30-7 ?.S0 KP ED 

103.575 I*.-# DFI®75 LX 


5 .B.P.A. 

10.00 1/U/19B5 

SHEA 

7.00 IV 12/ 1982 

US DOLLAR S-CWOB 


-ias 7.*2 

0.21 


■98 1,8 *.» 


9.71 9.00 

100075 

7.13 

100.00 


43 1.20 
1981 RP1976 
«5 1 -25 
1978 1971 


32 33 55 
1 203 005 927 
I 940 975 
I 32 33 35 
1 *05 80S 927 
1 9» Ml) 975 
• 32 JJ.-J3 
) 205 805 927 
1 9 29 940 975 
1 205 ZIO 219 
I 305 320 8D3 
I 933 960 .975 
> 203 210 223 
I 520 MO 975 
1 205 210 215 
I 540 9*1373 


1.68 »•»! 
3.33 *' ? * 


1999 aumr roscim de msrt 98 1/8 i.55 41,1 


•5-30 5.50 15/12/197® 

1974 CREDIT VUllSAL 

■9-00 8. 5D 1 5/ I V 1986 

1970 E.E.A.P. 

99-JO 9-00 23/ 2/1902 

1975 E.R.A-P. 

99.50 *-;S 15/11/1985 

1967 BLSTniCEXB DC PUKE 

98.75 6-5Q 15/ V 19 79 


3a 

ino.no i“78 


1.60 cc nr 

1964 STLX 


SI 5^ 


93 10* 309 210 J1S 
2» 920 JM 9#0 
•7* 

1-1 105 205 2JS 
805 9*1 975 
105 **■ 


1975 EEPTOL1C OP CARDS 
99-50 10.23 IA/ ,, 1980 

US POLLARJ-CTRaAST 


2-13-13. 04 JO. 79 


1* 7„ 3-72 8.69 
102 7.46 9*8* 


30 I -41 BP ED 
101-50 1970 DPI*) I LX 


0-95 30 2.40 KP EU 

100-50 1980 PP1977 IX 

0 .pa foe «hio « n 


93 If 70! JIO 315 

520 960 975 

405 «* 


99-00 0.50 1/ 5/19*6 
1977“ EJCXKZCZZZ 98 PMK8 

H*7S 8 JO It c/1987 i 


" 1,2 l# CC 


n a/4 fiU >■“ ■•c* 


*•54 9-12 30 .w cc nr 

102.00 1981 1972 IX 

8.98 9.58 30 KIP 

100 *00 1984 n 


m to 105 395 210 
215 520 005 941 
973 

92 10* 10* 210 2 IS 
310 973 

465 10 32 33 35 
60 205 801 927 
931 99 940 973 


75-00 1 9&9 BASF D7BB25E n/ no f/jj 2-51 A fl 

100.00 *.00 1/12/, no m " UB - 5l 4 -- 11 IM „ 

*--W I“6° OASP IFTSZTE HI OAT JB 2.51 8.32 6.1} 

IW.on i/n/mo - ’* I CO. DO 

50.00 1976. MSP ORSZSt . „ , i. »..* 

■9.13 7.50 1/ 5/19R2 ' 97 “ - 7 ‘” 

». W JJ-— 96 1/9 ^ 7-30 6.^^^ 

ts-uo « j /. i -« l .» «'«" w 

60.00 l“7T BATES IRT PIK . «- i/* ],u . 2l 

100-00 7-50 1/ 3/IM4 * 943,4 S " 2 , 7,,S . 

JK -* 


.1*3 2!0 305 870*973 


1*3 105 210 305 540 

070 975 : 

10 941 105 ^ 935 
143 210 305 870 9»5 


U3 J 5 J 510 30 * 5 M 

370 973 - 

*36 105 30S 520 SSO . 

805 935 SU 9 » 

143 300 MS. - 



















i , ^ 





j?Sancial Times Mondav June 12 1978 


• a " 

* 

SB — £ 

ills 

5 52 


B0HF.CV!E.1/ 

■ coupon MAruaaY 


i:L ii:* 1 


B3 BOLUC-wna u:; (COITUIUTP) 

■tS 7 ]!*- 00 ®/? m « ina i/a 

UO*Da 4>U 1/ 4.'J9a7 

1177 COS' US MTOCflE IE S 17 
100.03 4. ID . 1/ ft- 15?; 

»7i cnsROfmacaoTTL o;s 93 s/g 

100*00 7.75 1/ 2; 1944 

1977* 1030. 1ST m 94 

ioo.no . 7.5o mt/naa " 

19M SZB9ES5 VTS7BC F3 73 110 378 
99*25 . 5.50 1/ 6/1979 

um annas vonn fiv xw *s i/j 
. M.JSJ . i.JO . 17 67 1979 • 

w;o 4XB9SS v ti:uai in io: 7/a 

100.00 9.00 17IS/19S5 

J978* TOENaCa* UT 70S I )7 7/« 
95 -JO 7.75 17 6/1955 

J977 TOLXSHASH CfStAS tin T3 7/S 

100*58 7.73 15/ j/ 1987 

TE DOUUBS-CtKCl 


T ‘«l J 

j 

1 i 

3 LI .g.j 

=1 ill 

:-s§* 

- 1 

;I|! 

iSpi 

C j 
3 : 

e. 1 
as 

3 

u 

U g 3 

ou j e '- 
OS £ 

=!= 5=: 

(ITS 


5= 5 






353 iJ 

Til 


ii foi 
*. w3 i u* y 
C J ! K E 
“ | JT o. 

S3 o* 

ES 1 kS 

2 •» ii 


9 >01 

Ml 

4 Al 4-U 

■ DC 


TET* TO 

143 

210 30S 870 979 

in.im 

193* 

XOMTiwn 



io:>oo 

]*«! 


LI 



i.?0 

HiC.OO 

>.10 

9.D! 

1.2 


•)« 


IS" TC 


lift 393 *70 9ftJ 

ir-ea 

1947 

«;*cm 



101.00 

1922 


Ui'tap 


9?i 

:.j3 

94.7(1 

b.?5 

*.SS 

ft. 7ft 


i* 


rr. rv 


!fl* 30? J39 WO 

IJ.DO 

pis 

m.rcr.1 

;.sa 

9-53- 

too .00 

si 

ri»:; 

L.* 


?i>j *;s 


95.50 

ft.’j 

i-u 



*ftt 


?■-. TO 


30J WO 

40.00 

197? 

otirrm 



101.90 

15(2 


II 




99 .10 

9-JS 

1.0! 


4.J5 



re sc 

143 

2!0 MS 97S 

13.00 

!*<Q 

OLlTtTTl 






LZ 



*.n0 

91 -JO 

9. SO 

1-01 

J-32 

5-70 



n to 

14] 

10J ;i0 305 340 

JO. on 

1*70 

S.r.T.E. 






— 


97S 

13.10 

97.00 

7.7J 

7.31 

MS 

0.7S ’ 1-05 

re 

1-99 

r. sd 

Ii] IZi WO SOS |7S 

ii.. on 

1*774 

S.T.T.E. 

«.I6 

MJ 

loi.n 

19(0 

1973 

LX 



4p.no 

inn . do 

9.75 

7.ni 

1.16 

7.91 *-*« 

9CT 

S.M 

eh 

140 SOD 

15.00 

1943 

SCI "IT. 1 

4.01 

ft.49 

100 -3 7 J 

1512 

1979 

19 



5.L0 

99.30 

k.jO 


BOP.HGm?** 
COUPON MATURITY 


os nGLiAAr-riAtr (cos nr-'-TO 

WNn-wnai . 9* 

>.m 15 / e/iuo s 

«; 9 cm jmcrjr.oML 97 

ft .?5 1 '!<!•' I"? J 3 

OLIVETTI ISIttMU*.*- 98 
9. ’5 li/il/l*8l 

aizrni BitBini 1 "* « 

9 .J 1 / B?l* 9 * 


e ii § ii 

; 3 ■ 1 > i 5 z * 


! i ! 


■ < * i** qu 

'S'.Sol 5 °s 

g.BE; § g-S 

<{^2 «■> 3- 


°r c z • czz a 

9* jli .2 ij = i is 

UJ **• 1 < ; 2 I U 


8.28 tA) *0C 
100 -JB 1983 


re jb us **• 

LX 


|9. JO 'n!iO is,' 11/ 1941 

li 70 S.y.T.R. 95 ; 

97.00 7.73 V 5/1983 S 

w;:« s.t.t.s. .... •• ; 

on. DO 9.73 13 / 7/1983 

l*(5 Efll TW.(15T FTFirJi XV fj 

99. ',0 6.50 31/ 1 J." I960 S 

HM sex IST-IISD ncm** JM 83 

99.30 5-50 31/ 13/ 1980 3 

H MLUJ5-JMUTCA. 


1*84 12*13 
.5* 17.36 
4.7-i 7-44 
£.71 8.72 
3.46 9*24 

6.01 9.18 
7.W 

3.»o J.:9 
*.*: f.ib 
3.<; s.:» 

3.91 9.-19 
:.J9 ]4.02 

1. J9 18.42 

2. Ml >.02 
l.W 1><52 


a,]t f^T 

9 * 190*20 

,,1< 101.00 

102*00 

9-28 l-« 

100-10 

7 * 79 101.50 

7,79 101.50 


20 *« .an 411 '143 219 609 23 
- 15.00 19.50 8.25 13 / 12/1984 

, ' 03 MtUXMDKC XOKC 


56 S/8 6-?3 0.99 8 M 10-76 43 I.M Rd 4U 105 915 9S7 073 

*•33 9*29 X91-99 1980 9719.'] U 


1*72 COVOKIEST Or JAMAtCA 
99.00 8-75 1/17/19/9 

OS MUJUS-J4PW 


" 9/4 531 3:U a M 


■s; CT ST 405 • 

I'M tC 

1 -r. nr l»6 ms ■ 

r *J AilX 721 5 

W'2 K 186 1*5 I 

r ru».: ur ! 

-.1 vr n It' 77.' 

rr:-'; i: :■** . 

sr : 1 

I -’7 KH IS* :•! 

I I**'! IT -L0 • 

: :.70 ?: re m ■ 

l 2971 23'i. iJJ 1 

*-'1 P.-, S3 315 *•* 

L lf-'3 LZ 

!.47 y n 5!9 us 

I 19-.7 u!m-2 

- .1 ru 2S9 «S 

i isi/ nix 


w z.’z k? ar :j: 515 975 

i*:a »:» 12 


30.00 U73 HtBCCnMC U59 W 91 

44-19 100JM 7.75 1/L0/H8I 

JO. 00 1973 lOKOWO USD Z2 87 

44.15 100-00 7.75 I/10/19U 

15-00 1971 MBrtSE TUTBiaW IKT. BW ;35 

12.80- 100-00 7.73 IS/1 1/1986 

15.00 1971- JABODIS' KUUCSOY I ET. XV 89 

12.00 100.00 7.73 IS/ 11/1956 

VS MUA8S-BCSC4KT 


W 91 1/4 10.31 9-88 8-49 

7 .ITZ 9.51 - - 

XS 87 10*34 9-79 «■« _ 

7-02 10.45 - 1 M. 

BV 235 8.46 3 -DO 3.71 <0 

5-05 - 6 ? - 1 M- 

w 89 4-46 9-70 >.71 

3.03 10.67 200 * 


An 

7.50 

st nr 

2 U 940 975 

20.00 

19*5 

JL 5 ADT OtDIiOL . 

101 

1.72 

7.61 

9 .M 

1*86 0 ! 

?:»:* 

LZ 


98.10 

I 4 .SS IS/ 2 / 1*80 




8.30 

1*0 

7 -JO 

re to 

103 810 123 !M 97 S 

30-00 

1*74 

Hiiir nr Twin 

IDO 

3-04 

1.49 

:*83 spi*;i. 

LZ 


9*.>0 

F.JP l!/ S /1981 




9 .L« 

t*D 

1.00 

PC TO 

Ul 975 

33-00 

1173 

me nr TOTiQ 

101 

2.04 

8.89 

1*79 

1*73 

LZ 


10 U.D 0 

13 / 6 / 1*80 




8-93 

#n 

i. no 

TC TO 

4 M 173 

30.00 

1977 

MiT nr TMTOfcLMon] 

93 

5 . 9 Z 

8.74 

2379 

ISM 

LX 


100-00 

7.411 L' 3 / 19(4 




9.33 





10.00 

1*74 

CBB 7 XAL OL 439 CO ITS 

101 s/a 

2.79 

a.79 


50-00 1971 . turnon Bt OF SC!ft>]tT T. 99 

- 1 O 04 W . 8.50 1 / 11 / 1*87 

23 . 00 : 1571 UXUSAL X*S* OF BEVUR 99 

20.00 . 99.00 . 8.75 10 / ft/ HI 1 

ns noUES-iuLiB} 


9.42 - l.M B-!9 4-33 SK »? -o 336 915 960 975 

102.00 1961 U 

1-M 8.13 8.84 hDC S.»7 IP CO 336 915 960 973 

|.58 101-00 1979 19 .-J LK 


1947 

xcsLASDcc ti.vmr.ns as 


93 

1/2 

4.34 

7.13 

6.85 

101. sa 

20 

?.**) 

sr ec 

4(3 

les :m j:o eos 

99-50 

ft. 75 1/10/1*82 


2.3- 

MS 


1*78 

177- 

LX 



9IJ *13 

1972 

ramie or icrmro 


98 


X.b* 

B.M 

8JJ 


.*0 

.lO 

r-p as 

4X1 

105 520 91J *27 

99 ■» 

8.00 It L/KE7 



3.33 

8.91 


101.00 

1550 n?l*'J 

LX 



*59 *75 

1971 

SEPDBUC or icbjl™ 


99 

7/8 

7.1.3 

8.78 

8.78 

9.IS 

■ff 

.3D 

i'- 

TO 

411 

ur- 370 973 927 

99-00 

8.TJ . 13/ 1/1*34 




4-U 

3.78 


101.00 

l»l ! 


ll 



953 *73 

1977 

ZHFOBL1C Of ICELAND 


99 

5/6 

F.72 

9.DS - 

9.03 



.(n 

7F 

TO 

412 

35 IM 113 218 

99 -JO 

9-00 15/ 2/1987 


7.20 

9.07 


102.00 

mi 

1930 

LX 



J2P 7 IS 731 *15 
927 940 955 975 


09 "DOLLARS- TKAH 














1976 

TOO .4 Hinsc OFt7 USE 


101 

Li 

*■49 

F.72 

9-11 

*.n 

75 

S.'.iv 


.m 

117 

103 *13 941 171 

99.00 

9-23 5/ 2/1983 




1-29 

8. ID 


101-30 

19(0 

17:9 

LZ 





05 KLLMS-XftaJUCD 














1989 

lix LUCtlS, TED RANT 4 


99 5/B 

2.15 

1.33 

Ml 


90 

l.'.O 

CO 

re 


IDS 11* SID *13 

97.25 

8-23 13/ 11/ 1981 





8.40 


1C2.O0 

197* 

l»7£l 

HKX 


DM 9t.O *,S 9TJ 

1971 

REPUBLIC OF UHLANS 


94 3/8 

10.71 

8.93 

8.72 

101-00 

4'C 

1.50 

Eft 

TO 

339 103 915 930 9ftO 

97-JO 

8-25 13/ ZJ 1989 

s 



ft. 03 

9.18 


1931 

1*73 

LN 



*95 *.'■ 

1970 

republic or rasjura 


ICO 


4 .73 

9.20 

9.20 



-*n 

*P 

F0 

359 

1A5 f|J 533 960 

99-00 

9-00 7/ 7/1*83 

s 



—23 

9-20 


103-00 

1980 

13:1 

LN 



9bJ 973 


08 WftLiHS-IWAEL 














1987 

ISRAEL IBS SETT BASE 


97 

7/8 

4-;o 

7.T1 

7*2* 


•or 

I.'S 

RC TO 

319 941 973 

94.00 

7-00 28/11/198: 

c 



2.W 

8-09 


102.00 

197c dp:j;j 

LB 





98 DOLUSS- 1 TALT 

1970 UFA HKBD 5 

97.00 7-75 15/ 4/1965 S 

1963 4010571401 ! 

•9.00 S.JO 15/ 7/1976 

1963 CASSA FBI H KCCOCIOUO I 
97-50 6.00 1/ -3/1985 S 

1968 CASS* TEE H. HEdKICAXO 

9S-25 - 6.75 1/ 10/1983 S 

i»g C4GS4 RK XL KXZ2OC101B» 
97.50 6.73 1/ 7/1964" s 

1963 CUT. or KZLAif 

98J 5 3-50 1/ 7/1978 S 

1*71 CXZX 08 HUE 

100.00 - : 9.00 1/ 5/1991 

1969 4 aam^ 0 V. 0 FEUE PDBIL 1 CBE 

' 9 S -00 7.30 U 1/1990 S 

1970 EKEL 

96.00 7.50 1 / 3/1935 S 

1966 E.I-I- 

95-75 . 6-00 U 2/1901 S 

9J?00 *"*’6 JO 1/ 9/1981 S 

ot!so ”1:» 1/ 2/1962 S 

S3. B **"*.50 1 / 6/1967 S 

StSo ”1:75 1/11/1*88 6 

. 1968 KJ.I. 

98.00 -ft.VS .1/ 6/I9S8 S 

*!!5o”1j* 1/10/1981 S 

98-25 15/ 1/1988 

1971 UDOTIE DELLO ET 4 TO 

1 M.M 8.75 1 / 2 /l 9 «« 

1970 mro»»ror 

97.00 7.75 If 1/1985 S 

w3o***1ia» 1/12/1981 B 

.-MW 30/ 6/1079 *6 

. wo!S ,W 5S: 


92 lit 6.83 9.(0 
3.76 10.17 
99 1/2 .11 9*48 

92 1/8 6.75 7.65 

3-72 6-70 

93 1/2 5-34 8.63 

2.97 i-SJ 
93 1/2 4.09 9-29 
3.22 9-35 
99 1/ft .09 14-93 


8.53 IDT 1.40 

101.50 »;9 I»T1 

5J3 . *•*« 2“ 2-71 

100.09 1978 1969 

8.62 - 1-20 
19 bb 

7.J5 ". '30C 1.88 

109-75 1970 1971 

' ‘ ' MC |.*E 
Ot-OO 1978 
13.75 30 1-2S 

100*00 1978 19b9 

10.02 3DC -50 

102.50 1981 1*72 

JOT 2.J0 

103-00 1982 1971 

307 3.50 

tOl.SQ 1979 1971 

• J - l.M 

too .30 1978 1966 

30 1.20 

100.50 1*78 1967 

30 1.30 

1 00.50 19» 1*67 

• “ • M .63 
U14M 1971 1967 

' . 30 -50 

JB1-25 1978 19b9 

30 -75 

101-Zi 1976 S4b« 

.*/ ’30 Z.S» 

ID 1-00 1978 1*70 

SO 2-00 

101-4 1911 1974 

9-T2 30 1 -25 

loijqi 1961 Wi*.’2 

'Mu' '■ 39C 1.60 

103.9*'- 1978 1970 

■Vi" 28- 1.00 

101*38 1978 ST1970 


i IK 415 420 

975 

i 425 975 


W*SQ 1979 
100.30 1978 


: 101*00 1978 

; .• . so 

101.25 1978 

I ‘ » 

101-25 1976 

i JV '30 

1DU0D 1978 

• • ; ^O 

101-4 1981 
i 9-7? 30 

101^8 1961 

I : ; qr ■ 30C 


105 109 415 
123 975 
. 4D* 115 420 
973 

406 415 130 
975 

409.415 425 
I *73 

, «-4 415 425 
i 975 

. 409 415 425 
I *75 

> 409 415 425 
l 975 

i 409 415 425 
I 973 

i 109 415 425 

> 97S 

l 409 41J 420 
i 530 97S 
5 409 UJ *20 
j 520 975 
1 405 10* 415 
) 42 5 *75 
) 409 415 425 
! 

5 4D9 415 425 
i 

S 409 425 975 


100.00 9-50 13 / 3/081 

i«7i aguoa to no munn: 98 3/4 10.51 I 

91.50 8.425 1/12/1*48 l-O. * 

1974 CBEACAO T0KY" 801.01 PC 101 5/8 3.1i * 

99.75 ID. 25 15/ 1 =-l« 5 

19-ft* Bill CHI CHKKCArUUO 98 3/4 8.61 S 
94.no 8.50 15/ 1/1*85 

1977* DEEU - 0ESK1 KOT50 E.C 9*6 7/8 4.34 I 

99 .00 7.75 1/ ID. !9£2 

1177 BXTICHT SHIWTLnnW 05 5/8 5.72 I 
99-25 7.75 151 2/19BA 4.32 ! 

11784 HXTATH1 SHITBlTJJr* 98 1/2 4.75 I 

•>9.50 6-50 1/ 3/1933 

lift* MWD1 «T08 . . *■ 7/8 7-*} | 

98.50 7.S0 15/ I/19E1 8 l.bS I 

1»75 BOKDA W'TOl 101 1/4 1-92 I 

94.30 9-25 1/ S/1980 

1974 lHDC'iTBlAL lA-n-JAPAX >00 3.09 I 

44.75 A. SO 1 / 7 . 19 FI 

1675 T 71 MS 7 BIAL 8 AKF^I ‘PA. 1 ! 101 1/1 2 .M 

100.00 9.25 15/12/ 1 1 ** 

1975 J 88 VST 8 I 4 L BASF- 2 AP.U 1 101 1/8 3 .M 

IO0.n0 4-23 HZ */ 1*47:2! 3-65 

1977 1 nn U.UU IMA-BAI O'* 97 1/4 3.18 

lDP.DO 7.75 13.' t/!9E2 

197b ISBirA»UlJLA-BA»l!!A 100 3/4 2.75 

100. OD 9.00 If 

1477* C JWB ft CO (HT* IXTi. 96 6-51 

9«.6D 6.125 1/12/1964 

1 97b c ITni 100 1/2 3-17 

100.90 6.75 !/ 8/7961 

1961 JlPAF DBanpnniT IASI 98 5/8 1. 18 

96.00 5.15 15/10/1*79 S 1-1* 

1»6J JAFAV DWHOPMOT PAUE 9* 5/8 2.iS 

97.75 6-50 15/11/1*30 3 1.86 

I 1976 JATAS ntTELDPHU-T BASK 99 3/8. 3.11 

99.60 8.25 15/ 7/1961 S 

I 1973 JAFAJi ormowfr 8AKK IDO 1.79 

s».25 6.50 15/ 3/I96D 3 

I 1977 JAPAN STEEL HOSTS 96 1/4 5.96 

I 99.00 7.7S 16/ 6/1964 

I l*’7 KAJIMA 01TF6EA5fCT7ACAD] 96 7/8 3.96 

100. 00 7.625 15/ 5/19*2 

I 1967 VTKCOOH Or JAP AS 98 1/8 l .*2 

; 97.75 .6. in 1/ 5/ 1960 S 1.23 

I 1976 KOTO OVEFSEAf-fCLUACADl r 101 3-10 

100. 00 9-00 15/ 9/1981 

| 1977 raiACAI CLWI T 97 5/8 3-63 

99.73 7-75 15/ 1/1*62 

) 1*76 LOW TEW1 CSEDIT BA.1t 100 1/4 2.92 

100.00 8-75 1/ 5/1981 

1 1*75 LOSC TEM CREDIT MET 109 5/8 2-04 

50. in *.00 15/ b/ 1*80 

1 1975 KA1CICKI C06P 103 3-75 

94.25 *.75 1/ 3/1962 

5 1976 ndDHSAA HKTP1C BAS 102 3/4 2.66 

100.00 9-25 15/ 4/1981 

9 1974 HTO1/MSBI HATCH 101 7/8 lD-W 

98.50 9-00 1/ 4/1989 

0 I»7ft KITSn HISISO 6 rWLTtSC IK 1/2 7.75 
100.00 9-25 3*/ 2/1*61 

0 1976 WTSCT KC 4 SHIP 99 3/4 5*76 

99.50 6-75 1/ *. 1*83 

0 1975 miSMJ O-S.r. LITIS 101 1/* J-J3 

0 99.25 «-50 15/ •/ 1*60 2.1* 

0 1*77 HlTSl” fcnttHEIICAI. ISO 97 1/2 5-*l 

0 iao.no n.nn 1/ i/lft/i ’ 

0 lb75 XIT601 SMIPH'ILOJST-ETA! 101 1/* 3-1? 

■".on 9-25 13/ :/19tfl 

0 1*77* MOL XSTTIXAIiWC. 95 6.17 

99.25 7.7i 1/ 6/198* 

0 1974 HXCBI903 CO , F 100 3 M 3.17 

100.00 9.125 1/ 6/1981 

0 I**# STTpm: aFCT*TS 98 7/8 2- n 6 

0 98-CO 7.50 15/ 5/1581 8 


1.80 8-73 9M 
8. A* 101.50 

VS I0 * w i«:» 

9 - lfi , - 79 101*30 
6.62 8*00 

1.74 8.10 , »•?* 
9.0: 101.00 

8 - SB B -“ io*:oo 

S25 7,75 101.00 

8.50 9-1* 

0.49 8.50 B.*3 

100. jO 

I. 69 9.13 7.62 

100.30 

«.9P 9-15 8.9* 

8.5£ 100.50 

8 - bD 7 * ,T ,wi« 

io§:sS 

8.94 8.46 9>79 

101.00 

8.54 8.71 8-ftK 
100.50 

6.92 5.92 

J. 16 100.00 

?:?i 

I 8^6 8-45 


JO ."5 
1**1 Dfln.A 
y> 3.ca 
1*7* tn?;3 
30 I. SO 
!«i 


70 «. on 
l*?l :?»: 


i'- 1 -? J 


•o" 1 


5'i ;.ni 
!*'i m*-» 
51 

jn-j 


j* .’r 
19:8 1957 


399 9» 96C 97S 


27* ITS !0J J5 n S’ 0 
917 970 9t0 975 

3M **" 


3J9 !D5 :-9J 9:3 915 
•dO *~5 975 
2'9 :n: *13 *20 935 
*tf> *t5 *75 
354 233 945 927 962 
97J ft<0 

31? 37 215 *13 *20 
B-- Wl *iO 9J0 
*« ». 2 975 
»«0 ;.n* *13 420 *30 
«ji *v. 950 

**:■ 964 Pb5 975 
463 *** 

415 !C5 635 975 
516 10J 9!1 941 975 
2*6 1*7 *15 *M *13 

*47 *50 9’5 

474 !0i iC'. 57C 913 
,-j 9.” «*r ?23 
'.*3 9 '5 

456 *■« 


412 lf-‘ *73 *20 927 
9.'1 «.l 0-.C * 75 

296 *13 ?27 93-1 9*7 
975 

93 **• 

411 10* J20 941 915 

411 105 60S 941 975 

ill 32 33 35 60 
F05 977 931 9» 
9-0 *75 

ill 31 13 60 *05 
927 fljl 92? JIS 


!>05 

9.5? 

I* 

3.:: v n 

4(3 *01 9IC *M 9LI 

101 -uO 


:«5 L IX 

*30 **3 975 

7-87 

100-50 

?/■ 

15*0 

»r tr 
Ll 

3?4 35 105 J00 *13 

«:n *2" *io a -i 

5.(8 

100.00 

lo:s 

j.n: -rp sz 

1?.'- SI 

*>0 ««• *»I 975 
4!! 105 805 9U 975 


lui 

1 • 

2£ I BO?ROVCT/ 
oS ! COUPON CSATWRV 
j 

! S 2 


l‘f= 

b! 1 s § a| 
t S5 
3 | ! o < g ©5 

§;ll i II 


II U iis I 

Sst'gas 1 


MAprer 

MAKERS 


= 3 a 

5 r 3 


us py jjiw-ji.’iy (ccsrmrB*) 
lOT - * 5IT?Wi F2S3MS 

91.20 7*75 "/ 8/1*61 

»*'* SXFPC3 RDOIAX tlffS. . #8 5/H 

1CC.73 e.-iO 15/1 1.- 1981 

:o-4 cr*« FCDOja B6BB 101 J-' 1 

ICO.tJ 6-25 :/ 2-' 10 “ 

»*-: !K*p:*2 ttdc:a5 ba-tc IP* 

9.-.2C 10.2i '-1/ l<’»a 8 

<s*7 CJ7C9 'CWC s? L’4 

99.70 *.75 1/ 6/19S2 

I*7'5 KBPS E22H ID 1 

99.it 9.25 IS/ 8/1980 

ISs 1 7 7^/1978 3 59 

]*6 f - SU»S 73. 4 23. 98 

57.25 5.7J 15/ -/1980 8 

51?*L-F 73. 4 TTL _ J7 1i4 
1C0.C3 7.015 1/ 2/H8I 3 

i*?:* sir?c r. 73 t in. 58 1/2 

IOC- M 7.75 13/ b/1984 B 

**'6 S3F3S 791 6 7VL 58 4/2 

9J.10 7-673 1/ S/1981 8 

13~7 KFPCB TtL 6 TKL 91 1 It 

55.75 8-225 1/ 3/1*67 S 

19*5 rorm* steel 100 7/8 

.250.00 9-30 15/ 5/1300 

1*?J 3P7S3F3 STEEL 
**.25 9.2* 1/ f/1980 

S*74 RS34-KI1 W 101 2/4 

ICJ.00 5-W U 2/I9E1 

1976 ETC TSTL LUX 180 

99.75 8.73 ISf 7/1981 

1*76 OKI ELPTSIC TOESTHt 95 

ICC. 00 6.25 1522 1/1981 

1*76 CH7257 LEAS^C ICAB'ET 98 

59.73 1.23 15.' 12/ 196 3 

I I?:;* BEK ILLS!?* (CAR1E7 97 1/8 
1 9*. 75 f .25 1." 12/ 1*74 

IQ'S M22T 1CASTW fCAElSV V 101 3/4 
I tin.Tl 9.J5 15/ 2/1631 E 

| 1976 Scoai SHIPPUS .. 200 3-'8 

1C0-03 *-CC 15, 3/1981 

I :»Si 512072*3 CE37CA2. CO WO 98 7/0 
) 98-09 6-73 12, 1979 5 _ 

) IS'S ET3E 10555 CHOTI2AL CO 104 Ilk 
9* .23 9-25 !J, 4/’-«0 

1 11 -T sctctok;' hcatt ii® 93 1/2 

99 . IS 7.75 15/ 1/1*84 

1 1975 sanToio hcatt is® 102 3/0 

9*.i9 9.50 1/12 '1980 

ft -*ei THE XET77S0:TF OF 70L70 98 5/8 

; 9ft-JO 5-21 1” i’H/9 S 

3 19(5 TET BTTMrCLIS OF TOITO 98 3/8 

3 95.25 ft-59 '.Si */IBB0 5 

n io::« TosAi iicsthjps 98 

D 94.15 7.75 I5,*l n /1*B4 S 

0 1974 TMAT ISDT5TF1 CS ? 102 5/C 

I0J./-3 9.75 1/12/1980 

n 1*77 TC73 EA.EETS0 9/ 3/1 

160.00 7.73 1/ 3/1982 


4.04 1.98 

3.46 8.43 
2.68 3.(1 
1-63 7.49 
4.91 8.JS 

Z.ZI 8.19 
.13 12.(3 

1.88 6.49 
l»i4 6>b0 
3.75 8.67 

6.04 8.68 


7*97 9-32 

100-50 

8.U 9.32 

170-50 

9 - 12 m !:S 


30 3-1S 
1978 1?*3 
30 -84 
1978' . 1966 


8.19 B.80 

l00.ee 


8J3 8.66 

100.00 

9.A 7*84 

100.50 


(W.:9 9.JO 1/15 1980 

".50 ”9*2 THE XET77S0:T? OF 70L70 98 3/8 

“j.22 91-JO 5*75 !?•* 2-’H79 S 

:0.C3 1*65 TEE KTTMrr-IS OF TO/ TO 98 3/8 

7.20 9S.25 4-LO '"S' *11*80 * 

30.1-0 1*77- TOME T-SCSniFi 98 

3C-00 94-25 7-75 15, l n , 1*84 S 

15.00 1976 TMAT l^STFICS ? 102 3/8 

IOJ .03 9.75 1/12/1980 

lr.OO 1*77 TCT3 IA.TETS0 97 3/4 

100.00 7.73 1/3/1982 

30.00 1977 TOTO HOTA »l=4 »S 7/8 

99.25 7-75 1/ 4/1*82 

20.09 '."T6 SOTO !t£*A EAI5HA 101 3/8 

100.30 9.25 1/ 4/198! 

25.00 1977 r.S. LISE (CATHA.11 93 1/2 

25.00 99.23 7*75 13/ J/19S* 

13.00 1*75 r.S. USE (CATKACT 101 1/2 

99.25 9. SO 13/12,1999 

cs pamt frioMA 

25 -CD 1976 smEA DETT BANE 100 1/8 

9*. 75 9-50 15/12/1981 

zf. r 0 1*7? DCVT BASE 100 S/8 

*9.30 9-50 1/ 3/1*92 

CS BOLLAilS-U'EEMBOtrFC 

10.00 !»67 A1H3J FWASCK 93 5/8 

2. JO 99- JO «-J0 1/ 6/1979 


2.1? 8.44 
2.(1 8.43 


J.J5 n .TO 

4.05 3-93 

6.51 8.83 
5.61 £.91 
2 .J 2 2.*4 
1.46 5.37 
2.96 6.75 

1.51 7.70 
.76 8.51. 

1.68 6.74 

5.61 8.78 

2.31 8-23 

•9» 7.53 
-71 7-94 
1.02 «.** 
1.23 7. JO 
6.18 8.76 
4.11 9-13 
2.31 8.50 


8.49 9-93 

101.00 


ioS:S 

l,M 100*50 
8.87 

f .12 9-49 
101.00 


5.92 

IDO. DO 

6.19 

100.00 
8.24 9.64 

101-00 

9.50 


45 5-00 

1980 1981 

2.50 
1978 
30 
I960 

30 .60 

1978 L9ft7 


438 •** 

456 mb 

219 103 913 920 968 

346 9D 920 975 

517 913 920 930 933 
941 950 960 962 

926 *U *20 930 941 
960 9"i 

399 105 80J 941 

399 105 80S 961 975 

399 -0 32 33 33 
60 8rt 927 931 
93* 940 *75 
399 20 32 33 05 
eO £05 92? 931 
91* 940 975 
' 399 20 ?: 33 3S‘ 
60 805 927 931 
934 940 975 
' 399 2 0 32 3 3 35 
60 80S *27 921 

929 940 *73 

I 456 35 105 5 JO 913 
92P 930 940 *60 
9b2 975 

I MS 125 *13 920 930 
941 960 975 
t 290 105 520 913 920 

930 941 *60 *73 

I 32$ 105 520 913 920 
930 933 941 960 
*75 

7 326 520 913 920 930 
960 *73 

I 396 35 913 931 927 
930 936 940 9J0 
960 973 


396 913 938 


3-34 8.73 8.00 
2.84 8.58 9.10 


5.79 8.78 
4.49 9.01 


8.12 *•« 

101.00 

9.36 8.75 

101.00 


1.00 
V71977 
30 3.00 

1981 1981 

30 .75 

1978 971976 





*.7 TO 

3S9 911 969 962 175 

ro. oa 

1*72 S.F-B- UJXnfflTOFn 




L-q 


2D. 00 

100-00 7.50 15/10/1*82 

8. *7 

CD 


ST TO 

412 *»• 

10.00 

1*7( s.r.t. LnasonB 

100.50 

!*•:* 


LX 



100.00 9-00 15/ 1/1983 

E.J3 

-n 


fp re 

412 «* 


OS 00LLAB5-9EZICO 

10(1 -(>0 

1*-* 


LI 




ft. 08 


2.03 

(r. re 

325 PIO 913 9TO 9(2 

20.00 

1977* BASSO 549S0SAL OE 0B8AS 

100-50 

!SiO TILP76 

LX 

975 


94-75 9- IS 1/11/1982 1 




m nr 

351 *1] 963 

20.00 

1*72 C.F.E. - HOICO 




LX 


15.05 

97.30 8.00 If Z! 1*87 

1.71 

** 


f r. TO 

609 105 941 975 

25-00 

1*77* riSASA - rw A2UC 

101 -lift 

1*51 


LX 



99-50 9-00 1/11/1982 




v, re 

453 105 21 ; 53D 913 

20-00 

1*87 S4C10SAL FlNASCIOtA 




LZ 

*» 930 975 

£.(0 

94.75 .'.25 1/ 9/19BI 1 

9.27 

43 


c re 

140 >■•* 

30.00 

1*76 SAnOXAl 7T5ANCI1BA 

101.59 

w;<? 


LI 



103.no 10.00 1/ “71981 



1.90 

}-. re 

is: 205 Oil 923 960 

co.no 

i*7i rnmoLrns .tisicai^s 

101.03 

i«T 

'.?» 

17. 

*••: 9"J 

li-oa 

SOl.OO 8.10 1/ 9’ 19*7 

»."* 


ft.*.’ 

v re 

4t3 

75-00 

1*77* PETJOLCOS UStCABO* 

IDl.M-l 


mi 

u 



100.00 9-00 1/ 7/1*82 

6-* ! 



7C CJ 

:•.* l*' 919 930 920 

20.00 

•»7S FBIiniTOS TtSJCAPOS 

101-09 

!■:* 



*:i 

CJ.OC 

9F.OO 10.25 15/ 4, 1952 


3.55 9.42 9-49 
3.75 9.43 9.49 


1.01 11.36 6.80 
.4! 19-13 

4.33 B.04 7.65 
2.18 £.43 101-50 

4.72 8 .81 8.94 


7 " 3 101.00 


in 1.P.0 
li'l 1*.0 


140 300 913 930 960 
9‘2 *75 
530 e»0 913 

411 105 *13 941 975 


1 *.2S 10/ 8/1*64 
B1TK) SSX1CA5 FTATtS 
1 6.25 1/11/1979 


8.91 10.27 

102.00 

9-06 

9.S1 5.*3 

ioi-oa 

9.34 

101.00 

6.5! 

100.23 


, 1» 927 130 
960 962 975 
, 80S 941 9?9 

i 3 2D 913 930 
! 975 


159 105 913 975 
327 520 941 975 
327 103 941 973 
359 •*■ 

339 965 

359 913 920 977 *30 
915 941 950 960 
962 966 975 


913 931 930 
1 975 

I 913 920 927 
933 915 940 
I 960 962 975 
1 960 


GC EA 501 35 730 913 915 

LKF1 *40 947 975 

ce GO 179 230 913 915 970 

LB 975 


1.50 SP a 46 35 105 305 505 
1973 '™ 520 530 805 870 

940 975 

60 4-00 HE ED 373 105 203 520 975 

1978 DP197S LZ 

WT OS 480 105 205 320 930 
LZ 935 960 973 


413 33 35 60 915 
927 911 940 975 
103 105 115 915 975 

637 3 915 927 

353 105 405 915 94X 
973 

517 105 915 960 975 

315 10S 915 933 960 
975 
599 *** 

215 105 915 960 975 
230 *** 

327 105 915 941 975 


120C 1.65 

1960 1976 


90 ‘9tf 
1978 1971 


i!G 1.25 
1962 DF1974 


30 6-00 

1979 1980 

30 2.3* 

1980 Frl978 
10 1.26 

1978 1966 


Austrian Quotes ^ 

notations and Yields of Austrian Eurobonds 


COUPON 

DATES 


REPAYMENT 


•SINKING 

FUND 

(STARTING! 


CURRENT 

ASKED CERENT ™jj» 




f he story behind Market- 
maker 611 is the stoiy of 

Rabobank After more -- 
than 80 years of steady gro^V: 
Rabobank occupies one ci th»- 
most proranent positions > . 
amongst the leading bank 


ifii 


Witha strong +■.: 

. aoridjltiHal background, 

■ Centraie Raboba nk heads a . 
cooperative banking •>"] 

organisation with over j i uu ■ 
'officesanda combined 

:balahce sheet total exceeding i 
61 :MBon Dutch guilders •_ j 
j m excessof OS$ 26 billion) n- 

;i97Zw 

Rabd?ark ccntinuou^T' 




fritemationally. and is now 
-operating as Marketmaker 
v 61 1 , in Dutch Domestic Bonds 

- *ind Euroguilder notes. 

Considering the 
number of issues, in which 
: Marketmaker 61 1 is quoted In 
: :the AIBD Quotations and 
^Yields*, it might be very worth- 
: while to get in touch with the 
'Dutch Masters in Banking”. 

"V " 

^ i • Rabobank is also 
?:<X)ntributor to the Reuter 

- Monitor System under page 

I'codeRABA-B. 

/.Centrale Rabobank, Holland, 

: : ;■& Jacobsstraat 30, Utrecht; 

Trading Tel: (030) 36241 ft 
v Telex: 70105 b 


..'-■•/J.’rY.:- 


RabobsnhS 

IXtoMasteismBanl^ 





D-MARK BONDS 

6?% Brenner Autobahn 19tiS (G> 

6% DnnaukraFr\> - erke 1S5H (G) 

6J% Donaukrafluerko 1H7.1 (Gl 

7% Girozemrale Wit-n 1U7R 

7J% Girozenfi'iile Wien 1(176 

SJ"i 1AKW 1075 (Gl 

6i% Kela- l!»7:J (SGl 

SI So Oe>lt*r. Draukraftverke I!l>5 (Gj 

7% Oesrer. Elektrizitaeisv Iri iu67 iGi 

7% Rep. Ofbterrrk'h ll»iiS 

61% Rep. Uesterrtkh iufi!i 

Hep. UeMerrt ich 1075 

8i% Rep. i.Hfftierreieh lti".*. 

7}% Rep. OesierrcJch 15176 

6J% Rep. Oeslcrrcteh I'J77 

CJ% TauernMafcwt-rl.e 15*66 

7% Tauernkraduerl-e I06S (G* ••• 

SH% Tauernaulobann U'74 iGi 

S’.% VoCtet 1'iTT 

R‘.*V, Vooi l?'7.j 

Voesl lt»77 

7% Wien iwih 

Si% Wien 1M73 

t-S-S BONDS 

6% Rep A«l»M'la UI6t 

*•1% Rep- 1t»«7 

SJ'Si Rep. Ausiria l!>76 

6i% Auit Electricity mr.R K'.i 

HJ% Ausi. Electricity 1HH7 (Gl 

5J'V, Alpine MiMiian IUUS_jG»_ 

81%. Tauei'tiiuiob-'ibu !!•<• *Gl 

5J% Vocal ia«a * «i / 

6<°„ Transalpine Km. Hlriu. ti'CG 

fij% Transalpine Kin. H!ri^. 15*66 

kK Transalpine Km. tHdy. 

i»* ,, i> Transalpine Kin. IU f is 15107 

71% Trans- Austria Gamine 1U.3 

AUSTRIAN SCI I i LUNG BONDS 

Hi".*. Kunlroilbank IM74 (•!) 

DOMESTIC ISSUES _ 

S'V. lni'esuiionsanleihe 1 ->j-i R • 

S'u Jnve.iLiimnsanleihf l'-'TS-H B 

S*,V» Inve&lilioiiAunk-ihc 1!>74 B 

»«**, In\es>lilinns:inleiht' 15*74 II B 

S4"i Invesutionssinleihc l!>75 11 B 

S|% Invesmiunsanleihe 

S}% Jmestilionsanleihe l»ij> ?“, » ■■■■■— 

Si% Investiliunsanleihc VAX - 

SJ% Invest ilion^anleihe isiTj.A B 

SJ% ln\cstilionsanK*ihe WiR s 

S% Inicitiininiantcilu ** 

s% Invest it ii.Rsairieihe t5»_<_< H ^ 

lmeMiii»m*.iti!eihf »d '* • •• " 

s*’., \Yas.scnMrtsch-’D'to_ ,u 5' ;,n | l . IJ« • — 

S‘%, Encr«u*anleih*' 1!»7.*i 11B y 5v 

65% Wiener Stadlanie»he D'*.i B 

6% Wiener Siacltmileihe 19 \ 

s% Wiener Stadtanleme tw. « R • • • • 

S% Europ. Invest it innstwnk Xn\ - • 

S% Inter-Ain. Enlv.tcklunssbk. An!. IJffi 

S’n Taj* Finen Anleihe 

s?% Sparbasisenanlcihe B 

8% Sparkasaenanlcihv 19"'^ “ 

iRI Purchase tor reiletoPtion purposes by 
to plan, t...) Repayment at a premium. 


1.2- 1.8 

1.2- 1. S 
1.3 
1.11 
1.11 
1.3 
1.5 

1.3 

1 . 2 - 1.8 

1.4- 1.10 

1.4- 1. U) 

1 2 

1.5 

2.3 

1 4 

1.3-1 51 
1.2-18 
1.7 
MO 
1 6 

1.6 

I.U-1 12 
1.S I 


3l.l-.il 7 
1 15 3-15.y 
I 15.S 
I 1. 1-1.7 
! 1.4-1.10 
; i 5.fi 
| 15.3 
23.10 
3110 

31." 

. 31.1 
30 4 
15.1 


1.8.74 -S3 
1.2.65-84 

1.3.73- 87 
1.11.81 
1.11.83 

1.5.80- 85 

1.5.79- 88 

1.2.81- 8.1 
1.2 73-S7 

1.4.73- 82 

1 . 4 . i j- 8 -a 

IJJ.83 
] .5.78-37 
■».5.S;I-86 
1.4.82-85 
1 9.74-83 

1.2.74- 83 
I 7i!l 

1.10.7D-8S 
1.6.81 -85 
1.6.84-89 
l.K.74-83 

1 .8.79- 84 


31.1 71-84 

15.3.72- 82 
13.8.78-90 

1.7.70-S6 

1.2(1.71-82 

13.672-85 

15.3J83-S7 

23.10.70- 78 

31.10.70- 85 
31 .7.70-85 

31.1.73- 82 
311.4.74-83 
15.1.77-88 


3. 1.7(1 
15.3.71 
15.8.77 
1.7.69 

1.10.70 

15.6.71 
15.3.82 

23.10.69 

31.10.69 
13.7.fi9 

31.1.72 

30.4.73 
15.1.76 


| i-,9 15.2. 77 -SI llOl) 

l ■;= 3.7.78-81 UtiSl 

1.4 1.4.76-52 1104.50) 

•j-i ju 22.10.75-82 

TT fi 11.6 76-84 1 1031 

j ->5 7 25.7.78-85 I103i 

2*!l0 i 28.10.76-84 (103) 
27.12 27. 1 2.7H-85 1 1 03.50 1 

I >12 ! 12.12.75) 85 (103.50) 
20.2 20.2 81-86 tlM) 

-j* 2 H.82-S7 

I 15.0 i5.y.S2-8ti 

‘...I 20.12 2012452-86 

; 3 h :t.b.S2-86 

•»!! 10 2y.10.70 85 1103.3(1) 

1 2*1.4 2U4 7H-S3 

'! ibis 10 5 78 92 

I 10.5 10 5.78 U2 

• 20 10 2U.UI.S0S6 

" I 17.12 17 .12.31-86 

"‘I iy.il iy.ii.SJ -86 

1 21.10 21.10.77-83 (101) 

;;;| 26.7 ssjjjo-ss 

issuer possible. The bond^ so 
(G) Govcrnmeni Guarantee, 
lions are based on the middle 


7.90% 

7.SS*‘u 

7.71% 

S.42% 

8.31% 

8.27'V. 
8.35% 
8.21 % 
8 . 21 % 
8.23% 
S.00% 
s.uo% 
8 00 % 
S.00% 
81«% 
S.43% 
8.01% 
8 . 00 % 
S.02% 
8 . 02 % 
S.02% 
8.35% 
S.02% 


7. sa% 

S.2 1 ' o 

8. U*J% 
8 . 2 ( 1 % 
S.47% 
S.39% 
8.54% 
S.15% 
8.24% 
3.20% 
S.11% 

R. 08 % 

8.U7% 

S. 00% 
S.20%, 
8.15% 
806% 
S.08% 
S.03% 
8 . 11 % 
8.11% 
sis% 
8.16% 


niin-hased mav be used for repayment according 
Lie* oSSrnmCDt Cuaramec. Yield calcula- 

price. , 


membbi or umco banking group. 


On international capital markets Austria ranks as Triple A. For knowledgeable investors, 

Austrian securities are particularly safe and attractive investments. 

S: .: U ri,i''s U i;“ |...n,« U li in, Via,™ Mr* LSltiJ laad.n; .Nusaun ,nsa. U a U n i h J ndl,n £ > K unu«. 

Girozentrale Vienna 

Market Maker in Austrian Eurobonds , , T _ 



> 5; 

jui w u 
-to i ? 


-£ BOHROV/ER' 
a ^ COUPON MATURITY 
5 «* 

< i n 


5a I “2 152'^ I 

U u i* \< z \i “■ 


= i ! 
s “■ =» -■ 


ns MLUis-Hanco /mktuteo 


wnrawacui statu 

6.50 1/ «/I97J 


tma tcancAF states 

6.50 IT I !/ 1950 


UKTZD BZHCA5 STATES 
6.75 15/ 7/ 1978 


sc a/s 
99 3/S • 


HJ.HUI MmCAX STATES 
i 6.175 1/ 3/ 1981 


SSI JED MUaCAS STATES 
7.00 15/ 4/1*82 

UUTED HBXCA.1 STATES 
7.75 15/11/1761 

Wins HEXICAS STATES 
1.50 15/ 3/1987 


SUITED amCAS STATES 
9 JO 1/ 5/1942 


96 7/6 3 
S 1 

96 2/4 7 

S T 

97 S/S 3 

E I 

96 L'S 6 

3 5 

95 7/S 13. 
S 9. 

99 VS J. 

3 


.59 P.70 
.93 5-E2 
.®* (.31 
.13 ?-17 
.16 ?.2l 
£-77 
.TP 9-36 
,19 9.51 
.15 ".31 
.oo s-rt 
,92 9-40 


6.74 

100.00 

6.86 

100.90 

6.89 

100.00 

7.32 

IX. 00 

7.10 

101.50 

7-56 

100.00 

9-OA 10.15 
;o;.oo 

9.33 

102.50 

9-26 


i?:a 1?S7 

30 i.m 

19-8 l»ii* 

’0 .57 


:?;i 1*H>7 
30 

1978 15*9 
39 .’8 
197* 1W 


30 I.;q 
19*2 1976 


19* BETTED MEXICAN STATES 
100.00 9.50 U 3/1991 

1975 Him Mexican STATES 
100.00 10.00 15/ 2/1990 


T. 101 1/4 12. 
S 

S. 101 1/2 !!■ 
s 7. 


9.60 9.71 

102.50 
. 10.09 1D-T3 
102.75 


30 

19S6 PH 977 
39 7- 30 

19 IS 19*1 


33 35 90 
915 977 931 
9.0 975 
915 975 


33 33 805 
927 939 9-0 


TO DOliABS-HETHESlJWS 


4X7 

8.00 1/ 9/1987 

DUTCH STATE KT3ES 

8.25 15/ 6/ 1987 

DUTCH STATE JOSES 

0.75 U 8/1980 
DUTCH STATE HIST? 

9.7S 15/ 97 1780 

■CXST-M0CADE5 TNTL 
8.25 IE/ 7/l®95 
EAT 10 SALE 5 El 1 EE LAND Di S 
8-00 20/ <..'198. 

VAX SEDER n* TOE? HW 
8 .ao 15/ it 19 SB 
SAT TOPER FTP CORN 337 

8.00 15/ 6/ 1988 
PIMP HD HOLD TNG P.7. 

9.00 15/ 2/19*2 
PHILIPS TFT m« 

6.50 30/ 6/1979 

rs 2X1 LUIS- SEW ZEALAID 


96 2/6 9.17 
4.-7 

96 1/8 O-04 
8.13 

99 1/4 10.17 

8.97 

ISO 1/2 2.10 


8.32 9-5? 

102.09 
8.58 9.61 

100.75 
8.82 9.17 

101.00 

9.20 


TOC 4. no 

1982 19 78 


20 3-73 

1982 DM961 


95 3/A 7-13 

5.13 

96 7/8 5.89 


8.62 9.85 

101.30 

8.26 


60 4.00 

19S2 1931 


EJJ 233 103 570 606 960 
961 973 

EU 238 


ED 245 103 606 927 


136 2/4 13 Jf 
96 1/8 10-94 


93 1/8 3.72 
3-32 

99 1/4 2.« 


6JS 7.23 

100.00 


5.00 
1981 
5.00 
1983 
10.00 
1951 
9 DC f.50 
1979 1972 


ED 238 600 6M 930 973 


ZD 23S 600 606 
ED 23S 105 606 975 


ED SAC 105 520 805 941 
LNLZ 9/5 


1963 C07T. OT HE? ZEALAND) 
97.50 5.75 1/ 7/1985 


1966 am. or sew 2 calash 

96.00 6.50 15/ 5/1986 3 

1967 am. or rw zealasd 

97.75 6-75 LV 7/1979 S 

2971* GOT!. OP BED ZEALAND 
99>-6 7.50 15/ 9/1984 S 


95 3/4 7.09 6.61 6.10 

2.60 7-2A 101.75 

96 7/8 7.79 T.IS 6.82 

4.32 7-9 101.75 

99 5/6 1.1 1 7-22 6.89 

.65 J-7 101.00 

95 6. >3 3-72 8.05 8.38 

1C4 .00 


437 105 9(1 965 975 
<57 105 941 975- 
437 105 9<1 975 


1976 GOVT, or DEW ZEALASD 
100.25 8.25 1/12/1985 

1976 GOVT. OF TOR ZEALAND 

100.00 3. SO 15/ U19 » 3 


96 7/6 8.51 P.77 8.52 9.56 

101.00 


437 30 32 33 35 
»0 885 927 934 
940 975 

488 *-* 


99 3/4 5.04 6.56 8-52 


1975 am- or tow Zealand 
99-50 9-00 15/ 2/1960 


2-21 8.65 8.94 


1975 GOVT. 0? SEP ZEALAND 
99.50 9.23 15/11/1931 
1975 GOTT. OF XIW ZEALAND 
99.50 9.25 15/ 8/198.* 


3.46 S-74 9.12 


4.T1 T.93 9.12 8.51 

3.77 3-21 190.03 


30 1.60 

1963 DPISri 


TOW ZEALA3P DPT FT? COUP 95 3/3 
I 7-75 15/ 2/1934 

TOW ZZALASD DPT fit C5BP 96 1/3 
i 6.1=5 U 6/19(3 

TOO ZEALAND BET TTR C02P 95 3/'8 
) 8.37S 5/ V/1985 

0.Z. 7 OREST PJOHJCTS 99 7/8 

9-40 15/ J/1966 

orrsmPE urn co 96 s/s 

8.25 15/ 12/1965 

SS DOLLARS- MSWAT 


78 8.13 9.93 


4.-9 9 -96 
5.1! V.1Z 805 


7.01 9.30 8.78 10.05 


7.7 9 9-M 9.01 

103.00 

7.55 3-B7 8.54 9.94 

104.00 


30 i.:j 
1961 TO 1 9 7* 
33 20.00 

1982 1952 

30 1.50 

1?‘ = D71932 

60 :.:o 

19/0 F.MMO 
30 
1991 


<68 35 105 
80S 970 

9-0 9-1 
488 105 305 
911 1M 
9*7 990 
488 1"3 5=9 i 
935 9- 1 : 
486 105 520 : 
!>:l 930 : 
•47 575 
402 ••* 


SC EO 402 “• 


SC SB 40’ 99* 


SP SO 438 *** 


C4 ra 402 »*» 
LX 


1975 AHBAL OG SUWDAL 
100.00 9.50 1/1 1/1580 

1971 EOUEGAAKD 
100.00 8.75 1/ 2/1986 


95 3/8 ?.*? 

4-53 


30 l.no 
.oo 1930 is;j 


i 715 719 879 
9b0 975 
520 715 735 
955 960 965 


1964 CI1T OF VERGED 
99.00 5-50 15/10/1984 


94 1/2 6.’9 
3.59 


520 735 740 
941 955 960 


1972 cm or meet 

96.00 8.00 1/ 4/1987 

1964 cm or OSLO 
93-81 3.50 -15/ 9/1984 


96 5/8 6.*: 
■4.6* 


530 715 735 
955 960 975 
520 735 7=0 
941 955 960 


19(4 CITT OF OSLO 
99.00 5.75 15/ 2/1979 

1965 Cm OF OSLO 
98-75 5.75 1/ 6/19E5 

1971 cm OF 05L0 
98.50 8.25 1/ 3/1986 

1977* cm or OSLO 
99.00 8.75 -1/11/1997 


95 1/4 7.01 
3..=: 
99 5/8 7.75 
4. 56 
95 1/2 29.12 
12.49 


I.M 
19v9 
20 .*3 

.25 1973 19-0 

ZO i.JS 

.00 19.'? DM173 

-1- 30 3.:-fl 

.25 1999 991911 


1970 an or osio 

1WJ0 9-00 1/ 5/1985 

1976 Cm or OSLO 
100-50 9.00 1/ 3/1989 

1964 KJECUOH OF KB2TAT 
98.25 5.50 13/ 5/19S4 


191 3/S 6.92 
. (■*» 
99 1/2 9.75 
3.20 
94 3/8 5.95 
3. »l 


8.88 

102- 
9.85 9. 

101 . 

5.83 

100 . 


30 !*60 

50 1S79 331972 
,37 30 3.i0 

M 19S2 TOIJ-P 

?«: :.io 
DO IJ79 19*3 


530 735 7*0 
955 9b0 975 
52(1 735 7 AO 
955 9*0 975 
520 ’35 740 
960 *75 
32 3 3 35 
!l*5 927 931 
9-0 973 
735 955 975 


I96S RUCDOH or SDFSAT 
96 JO 5.50 V 4/1185 


94 1/4 6.14 
S (.05 


■" 2.95 

-DO »?:3 1971 


1977 nSCMW OF SOHPAT 


95 1/4 2. 96 


315 105 520 735 740 
932 941 913 960 

975 

315 105 530 733 310 
•32 941 SjZ 9*0 
973 

315 »•* 


COUPON MATURITY 


n I | u- 


*f I .o 

mi 


MARKET 

MAKERS 


2 H '=5 ij E , r 


i” 0ii:jA»5-r-’ti:; -?i 

scAsurr 92 ; 


JP.00 1972 SCAN •An- 

27. OO liO.45 7.50 15/12/1593 


17.55 P.43 3.3e T.OH 

8. 30 8.7 J J. 39. 275 !«3 r»!®:5 


20.00 1977 SCANT.* *T 

28.10 9*. 75 r.»25 


98 3/4 10-38 8.50 5.77 «.»’ 77 1.10 

7.71 8-85 l’-J 57:*;5 


40.9P 1976 SrU2»JW7:SEA K^JUTA 92 1/4 12.51 9.22 9.16 3’ I.VJ 

39-1-9 190.00 9.00 :'::/l»9! £.A0 9.29 I"!. 51) 1-142 197; 

27.00 1«7L STAND [J.AIT SFA KSrTTJA 102 l/Z 3.51 9-34 10-M ?.‘l 3'* f.H 

23.00 160.00 10.25 V 12/1941 2-5L 9-V8 166. jj 1*78 19.'9 


272 70S S"? 5*n 715 
735 935 935 9*0 
o»S 

272 1«1 303 520 r:s 
r.\ 935 953 9*0 
«-5 

456 ••• 


30.no 1*77 sn- 
ip .25 100.50 8.90 15/ 1/1957 

10.00 1976 SJMA 5F0C5ACAPNA 

20.00 99.50 9.50 13/12/1986 


92 3/4 8.63 9.21 S.J3 30 .75 

6.A4 9.55 !0:-00 1992 DP:v:9 

54 1/4 8.55 10.53 19.C9 45 J.nn 

6.15 10-82 101.50 1981 1961 


456 JPJ 52D 715 *70 
930 ’Ll 930 975 
9*-<l 973 

436 *** 


1996 SPAIHAJTB>XAS BANE 
99.50 8-73 U 9/1953 


95 1/4 S.26 B.9Z P-E2 9.7* «0C 

3.36 9-00 101-00 19(1 


1977* SPARBASFZENAN SATO 
1OT.OT 8.J5 15/ 1/1988 

1977 SIATSFOUTAG 
100.50 7-75 1/ 2/1982 

1075 STATSF^EIAG 
*9.00 J. Li 15/ 9/1910 


9.63 9.20 9.01 9-71 

5.28 9»6 101-00 

3.68 8.93 8.CV 


272 35 105 530 715 
7.15 912 * 35 9*0 
•!"■ 960 97 j 
179 20 I"? J.'" 715 
935 MS 960 970 
975 
179 *** 


2.50 8.90 9.19 


1*76 SVWSEA HANDELS* ANTES 100 1/5 
■J9.C0 9-25 1/ 3/I9P* 

I«?h SVED15B EETWT CFOUT P 98 3/6 
100.130 ■ 7.J75 15/19/1993 S 

1975 SWEDISH DPORT CRHDIT 100 3/8 
99-00 9-00 15/ 4/1982 


7.7J 9.19 9-23 «.i* 

S.72 9-18 101.00 


454 35 105 305 530 
715 7 IN 9 30 «35 
9-0 925 960 97S 
179 **• 


5.38 P-12 8.17 9.13 

2.85 6-71 lOI.OO 


I»73 SWEDISH DTVESTyiNT SANK 95 

100.00 7 .50 IW I / 1 “86 

1972 SWEDISH I57E5THEST SANK 97 1/8 
99 .00 7.75 1/11/1917 


7876 STOnUFT 
100.00 9-/5 15/ 9/2986 


1976 ODDevALLAVAEVET P 97 1/2 

1QQ.0Q 7-75 1/12/198 3 8 

1977* ODDEV.ULArAJVFT P 95 5/8 

100.00 7.75 15/ 9/ 1994 

1*72 VOLVO 95 

100.50 8.00 1/ 9/1987 

93 1/8 
101 7/8 


100.50 8.00 

1977 VOLVO 

100.00 8.00 

1975 VOLVO 

99.30 9.50 


TO DQLUBS-5VTTZE8LANP 


35.00 J97J A10SPIHE T.VT 

23.31 160.00 7.00 1/ 7/1981 

73-00 1977* FIAT FIS COBP 

100.00 8.00 1/ 8/1912 


98>50 8.00 1/ 7/19*7 

0* 6 OL LAJLS- VEJreztl ELA 


15-80 

ins 

REPUBLIC OF VENEZUELA 

2.50 

99.00 

6.23 IS/ 4/1980 

100.00 

1977* REPUBLIC OT VUrEZDELA 


99.89 

7.875 15/ 6/1982 

100.00 

1977 

REPOT TC Or VHEZUELA 


99.50 

1.00 13/ 2/1984 

100.00 

1*77* 

RBOOLIC Or mEZORLA 


99.73 

8.(25 15/10/1984 

50.00 

1977* REPUBLIC OF FEHEZORLA 

50.00 

95-30 

8.75 15/10/199= 

13.00 

1972 

TRnz&ELA TEL 

11 .8) 

100.0a 

8.25 13/12/1987 

os Dollars- cto ranMt 

30-00 

1973 

Am EASE 1ST m 

30-00 

100.00 

8.75 1/10/1988 

=0.00 

1*71 

atbiease vn rrn 

17.00 

100.00 

9.00 1/ 8/1986 

(-0.00 

197' 

ASHLAND OIL 'GSI 

60.00 

100.90 

7.50 1/ S/1982 

20.00 

1*7 = 

H.I.C.C. FIN 

17.20 

99-50 

7.73 1/ 2/1987 

20.00 

1171 

BARCLAYS RASE 1ST 


100.00 

7.7S. 1/ 17/1978 

30-00 

1*7! 

BA2CLAT3 BANK LIT 

27.00 

100-00 

8.1S 1/12/IM6 


1976 

SAACLATS rase tkt 

50.00 

100.00 

9-1=3 1/ */l965 


1976 

BARCLAYS BASE DTT 

25.6a 

100-00 

9.123 15/ 4/1987 


1975 

BARCUT3 BANK 1ST 


100.00 

9. =5 It 7/I9E2 

100-00 



100.00 

8.30 15/ 9/1992 

1JD 

1967 

BEECRAX TUT 

lao.ao 

6.23 31/ 7/1981 

43.00 

1971 

BEECHAH OR 

33.50 

IDO JO 

8.23 1/ 2/1 IBS 

30.00 

1977 

mhaur cohr 

50.00 

100.00 

9.75 15/ 5/1992 

30.00 

1976 


IOO. "0 

9.73 15/ 7/1986- 

60.00 

1976 

ttmsi! cas 


100-00 

9-00 U V«8l 


L97T 

SRITTSH LAID 

26.00 

J9-OQ 

EMM 1/ 1 1/19 ZI 


1966 

BRITISH rSTMLBM 

3.00 

99-73 

6-79 21/12/1978 


1977* BRITISH amUUDftS 

05.00 

100.00 

9.00 U 11/ 1991 


3.»D 

8. *7 

8.97 

*J6 

w 

2.*J 

«-B- 


100.50 

19:9 

9.63 

8. =6 

7.(9 


4T-C 

b.l 1 

8.38 


191.00 

l«l 

9.42 

8.19 

7.98 


(5C 

5.90 

8.18 


101.00 

1980 

8.30 

9.41 

9.36 

70.04 

SO 

6.10 

9-49 


101.50 

2961 

5.51 

. 8-59 

8.11 

9-17 

30C 

2.77 

8-99 


101.00 

19(0 

600 

8. *7 

8.10 

9.6 1 

30 

5-21 

B.s: 


101.00 

1*31 

9.26 

B-RO 

8.42 


60 

6.11 

9-09 


101.50 

1980 

0.75 

9.16 

8-39 


60 




101-50 

1982 

C.75 

9.10 

9-33 

9J7 

60 




101.50 

1980 

3.09 

7J9 

7.0= 



1.39 

7.=n 


101.50 

1978 

4.17 

8. 95 

8.27 

9.36 

jnc 




100.30 

1*81 

9.09 

8.14 

8.07 

8.92 

30 

4.59 

1-2* 


102.00 

1981 

1.89 

' B.7R 

£.6= 


30 

1.2S 

9.90 


100.175 

1971 

4.04 

8.88 

8.2* 



5.72 

8.85 

8.31 


30 




101.00 

1981 

«.3S 

9-13 

8.6) 

9.23 

30 




190.00 

196) 

14.38 

9-59 

9.41 

9.91 

30 

9.88 

9.75 


101.91 

1987 

9.33 

8.64 

8.34 

9.44 

30 

6.13 

8.73 


101.00 

1910 

10.34 

8.91 

8.85 


60 

5.84 

9.00 


102.00 

1988 

0.17 

8 .86 

8.93 

9-=Y 

60 

A. 41 

8.79 


102.00 

1981 

3.92 

8. SO 

7-75 


30 

2.4= 

9. (■* 


inr.oo 

I«7B 

8.68 

9.1b 

8.(3 

10.80 

bOC 

5.06 

9.S9 


101.00 

1982 

.31 

8J8 

7.78 


60 




100.59 

1978 

8.11 

8. =9 

8.27 


60 

A. 31 

e.w 


10; -00 

1*79 

6.84 

8.96 

9.06 



3.8* 

8.1* 




8.88 

8-97 

9-05 



7.88 

8. 06 



4.09 

8.64 

9.07 

8.60 

60 




101.80 

1910 

14.30 

9- 03 

8.B8 

9.57 

AN 




101-25 

US* 

3.17 

9J7 

6.84 


30 




102.00 

1978 

7.68 

8.67 

8.45 

9. 26 

60 

5.26 

8.8) 


too JO 

1981 

13.96 

9.56 

9.48 

9.89 

60 

10.72 

9.62 


101 JO 

1985 

S.I3 

9.40 

9.57 

9.4B 

60 




101.50 

1982 

2.68 

8-53 

8.91 



9.&2 

11.09 

9*71 


90 

4.92 

13.06 


103.00 

1980 

.56 

7.58 

6.78 



14.42 

9-96 

9.63 


45 

11.96 

10.04 


102-00 

19SZ 


636 ms 205 370 715 
7JS 931? 917 
•fO n'-a 960 973 
359 965 975 


339 105 305 520 715 
735 955 9*0 96S 

975 

315 109 520 715 735 
932 933 953 960 
971 

137 947 960 963 


313 932 947 960- 


654 105 713 739 8’9 
950 955 960 975 


5.M PC ZD 
1976 7R 


PC ED 1SJ *** 


3.50 PC FO 186 109 3*5 SZO 803 


.50 HP ST Air 305 973 


HP HE 63a 32 33 IS (0 

RT 80S 927 931 939. 

940 975 
TO BO 412 *»* 

15 

HP XT 45* ZO 33 3 3 35 

TO 60 80* 927 931 

939 9M 975 

5-00 HP HI 458 20 32 31 35 


1983 TO 60 80* 927 931 

939 940 975 

.35 GC EO 488 915 975 


326 105 930 932 935 
94! 950 953 950 

915 

326 10* 930 915 941 
9*0 953 960 975 
93 **• 


335 930 935 930 135 
960 975 

326 105 520 930 950 
955 960 97 5 


105 520 K70 
930 933 940 
933 960 975 


930 9 36 930 
960 9/5 


320 870 910 
941 947 930 
9W 9/5 


520 IN 961 

?7S 

9*0 . 


Financial Times Monday jttne f 12 


O 

t 

||i r£ 

BCRRO.V’R/ 

Jli! 2 list'll P i I"s 

- -?'!= £ Ih? ! lii I 

y - % S>. z 1 =< - < 1 >5»s 1 s 

£ :c 1 5; 3-s s^i’o 

S . =g ‘it i E! § i^ 

MARKET 

11-11 

COUFNX: MATURITY 

MAKERS 

. IV 1 


i : ! a 1 



o 

ifiai 

"2 

ssS o" 

“C «B 



"■ I .r I --.-., r . : 


e: 


*1 3_| V-MAKKB 

|3 -o 


02 » L.v;-vsn: fOCTirr; 


ss Douixs-soinr JXTOC&. 


NF NT 611 LP5 915 9*1 373 
S7 

TO TO 317 105 915 941 975 
NT 

TO TO 327 105 915 941 975 
TO 

5F NT 327 105 913 9*1 975 
NT 

TO TO 411 105 915 941 975 
ST 

DP 85 327 IDS 915 960 975 

TO 

SP EO 346 105 913 960 975 


nr? S’.v.i- ir soss^r 96 -** 

130.00 7.215 |/ 2/1JSJ „ 


l*::* ssa/i or no-vat gs 3/3 
??.S! 7.30 15/6/1982 S 


S./f 7-93 


1*74 KJ2-‘<njO“ "F rw»l » 07 1/A 

lOfi.oo 7.73 >;;i/i98l 

1»7»* K1S0P I- OP vr-AT 96 7 i 

9*. SO J.S'N 1/ L/| 9 . 3 ,0 - 

ii-i- rr-.cr.T-. cr so*-*- 95 *'3 

99-63 (.123 15/ 1.1533 s 

l*:* E(S“-M or r<-i«iAT 1/- 

swe.oo e-23 !_./ -V198I S 


3.49 7.97 
8.71 L.I6 
(■PL 8—3 


DP XT «4E ZB U TO 35 
XI SB BUS 927 911 

939 9*0 ST? 

NT TO 555 20 12 33 35 
XT U J3S 927 931 

K9 9-1 975 
HP ES 315 550 932 

X? JE 143 "* 


1J7- ■— «- mwiri« - 

97JU ; 7. SO 1/,3/afj 


SS 1/1 8-75 

U 0.12 


i9S7 » was cobs xmr . 

89 JO »J0 j/tflSSZ- 

H7l esoh ’’ '• 

98- 00 8-50 . 5/12/19*6 - 

1974 ECDH ‘ ; • 

M-50 9-?5 ; 1/ V1M9 

1973 XSCOH" . - ./•' 

200.00 10.00 .10/ 6/1580 
1973 ESCW: 

99- 50 ID -25 . 15/ IS/ 15X5 


I*7S EJTW CF SOHWAr «1 , r. 

1C0.Q0 £.Z3 13/ 7/19*1 S 


I9TO* ZBCDOH OF S0HU47 e s -/■ 

3 ao .co 8. IS • i/ 4/1*83 

:?:* iww or tout loa 

18? -30 8.L0 15/ 2/1981 

i*T5 roctr.H or NorvAT ioo :,'s 

105-00 8-85 15/11/1980 S * 


4.34 8.56 8-39 
2.TZ 8.47 S-53 
8.52 8.17 


479 ZD 52 23 25 

SO *05 927 931 

?:« 940 V75 
633 20 32 33 35 

« res in >u 

5?9 9L3 973 
615 20 52 33 35 

63 BPS 927 931 

•H 9-0 975 
315 »•* 


9S3/4 


ISO J8 


«V 2 III 


95 S/S X«*7| 


-9.91 11-05- 

9 101*30 


soi i/* a- 86 


i u»i/fr a-» 

-■ 3-w* 


i)wz( 10.16 
. IDO-80 


1975 . XSCOS . . j. ". . _ L-Ml 3/8 

98.30 JD-OO SfZfTZa.;-; 

1972 RRnnuc OF iMOSt. jjnCL~«S in 
98-00. ■ 7-7S . l3wi*TO7T'-r. . 


2*27. »■» 9M 

m JK Z0.U 9‘03 


m2 sxpcBncor «wntjtp(icRis* S/A 

99.50 84» -. -V.VO W- 

197* xBaucoF nin anaiu 1/4 


i*7J maw*! or?»*v4T ioo :.-s 

-99.73 8.875 15/ 7/1980 8 


1975 KTNT6-M OF SDRWT 101 

lOQ.OO 9-00 1/ 9/1980 

1964 SRATTLACrr OPfLAHOSTjUrT 9’ 3'E 
9? -00 5-75 15/ XIV, ‘ 

1*4* ERArnAi-.rr oppu«s»patt 93 1 r s 
97. ■•0 A.25 l/iz/w; 

1*6" ENATn-ViLET CPPLA.'1'’mrT «S 3/1 
59.75 6.50 1/ «/(?(.’ s 

1*64 K08CZS rmeiTWALMHE 1> 'T 

99-30 5.75 13/ U1984 

I?” ROK-’" rnj(fl iNALBANE 91 3/5 

99.25 7.50 1/ 2/1987 

1977 NORTfS T.'^HTNALEANr: h; 3/2 

99-00 7.50 15/17/1990 

157 - sokes raarsALRANi: 96 n/s 

99.IO (-50 16/1.-/1992 

1977 S0RGE5 TWVNALAASK •& l/£ 

100. 00 8.50 14/ 3/ 1992 

1978* TOOTS ECWfl-HLAJlNK J7 <J~ 

99.70 ?.::3 U 4;I9»8 s 

1977 NB7P1FE bc tf* 

99-75 8.50 15/ 3/1989 

:*7S SD1PIPE ion 2»A 

9V.SO 9.Z5 1/4/1994 

i«»7 »L T . Hmio-ELOfTrrsi: as 

97.59 6.87i Lj/IO/lMi g 


413 ZO 32 33 35 
60 MS 822 9JE 
9 38 940 .975 . 
413 29 3= 33 33 
60 8=9 927 931 
939 949 975 


197* KKItK OP ROOTS 
98 JO .9.0 • 15/ -Si 

MT TIM I IW-4M1W 


90 J-5D W * .W ffl? W*™ «* . , 
197? TJ| 7T «. - ■ ' L 

4K 5-20 nT W |» » - 

is 79 1973 m»ro - 550 wn-fn c : 

uoc J-50 00. K 

»: -50 OCXn- 4KSff.n3 5W?». . . 

W19P “ -84^360 jW ^ 

‘ - Aft tn “30 IBS 123 3T0/JI5 .; 
S' ■ -rs 999*861 960 975; 

w . :uif »'» ^ 

I960 »rs *r, r-r-tiii 'U. 

so • urwx' ■» 

3^f W 9SO ^b 303 -113.»t5 SS _- 


19S7 ADTWIST1S ^--r-S 
.98*30 : ,7.00 ^ 1/ 7/130T-- 
1972 IJT.Z. (3SCDO 

300.00 - *•» • -Uumm:. 


7.75 6.Z1 
!.»i 100.10 

7—7 6.71 
5.33 101.00 

7.5* 6-S3 

I. .7 190.75 


A. r C .47 
1979 1920 

45= .*3 

1*:? 1?:: 
M l.t? 
:?7B J9 b7 


230 IP* 520 735 932 
9-1 955 960 975 


7-D- 4/ 1/19**“ 
amass 

*■»- 3ali3j3SU, 


C .- 0 6.01 
7.19 ’Z3.C1 


1S2C -Tf 
1979 X9(9 


•-13 7.95 

(.:i 102-oa 

5.M 8.12 

r.u 301.75- 

F.»S 8-22 9- 1 ’ 

S.iS 192. *D 

9. CD 8-94 9.16 

9. IS 132.50 

9.62 9.58 9.70 

S. c* 1C2.CO 

5.C7 8.84 10.13 

5.13 101.50 

?.:0 9. IE 9.22 

?.?T 101.23 

T. -.i 7.02 

7.53 1C2-2D 


30 .50 

19J0 E?19JS 

30 .50 
29*0 DPI573 

99C 5.90 

1?PS isro 
VCC 6.25 

ip-s ;v?i 

31 5-00 
I95C rr:s(A 

45 2.00 

1932 SP1930 
43 2.00 

i*r: SP1973 
90S 2.35 

»;s 1971 


361 105 *2? 735 740 
9)2 «»1 955 963 
9"5 

515 195 520 725 740 
912 541 955 950 
975 - 

454 *« 


1 9.7s -i/janm 

05 DOLLAES-SBEBQ 


JJ7 *'•!» 
101-60 


- a i*» ; 

1978 1973 

SO .. 'l-JS 
1900 BP1975 
JOT I JO 
1982 - 1979 
ZQ5C - •» 

IMS 1WJ 
30 6-00 

laso m*77 . 


taps 34L 915 •'■■Tl'T 

zb i* ao’iis .VA.&. sis V 

.IX..-.:. 9T5. 

SC EB.105 10s ajo sJs.ns . 

ir . . . . » - - • 

cc m 4x5 lias. Kxr.MtfJttj. 

IX. •• . . Ml WB-S33T : 

■* Nrv 'ffiT 


cc CT 456 
:z 

es nr 179 


4U ZO 32 33 35 
4S 931 939 940 
517 “* 


]•’"* N07TI HTDC.O ec 

■J.M 7.R75 1/12/19(2 

1ATT SO Ell ST5L0 DC 

••>.*0 8.50 ’/ 3/1992 

]®Li RLE BTTRO 59 

S*. SO 9-00 15/ 9/1991 

I97b KOa/F muJO 10J 

ion.ro “.30 if 2/1W6 

1*73 NCSTO FTDSO ID* 

lon.oa 9-75 1/ 6/1335 

l“V* NCT.THEJJl PATH* -TVS s; 

96.30 6-75 2/ 9/1932 S 

1964 ROLt-U-NClU/l 66 

98 .25 3.73 10/11/ 29J4 s 


p.d; 3.25 

?.’= 102.20 

3. Da 9.05 9-70 

• u:.« 

?.:0 J.3S 9.19 
6 102. CO 

?.:j 5.51 *.<: 

t.n 202. :a 

7-L9 6. *7 
7.-- 112.00 

7.C! 6.21 
7 .?2 100. .'0 


45 2.90 
l?e: 3719=2 
45 2.50 
1*81 ?r:*76 

45 7.00 

1951 3919*3 
15 2.00 
19*3 EFISTJ 
90T .12 
:97S 1965 
92T 1.00 
1*76 1970 


1*45 E0LPLI-2D2DAL j£ 3/5 

96-50 6.15 1V/13/19BS S 


7.J7 fi.TJ 
L.1L 101.00 


for 2.03 

1973 1971 


1965 SSA-mSA , ■- 5/3 

97.75 5.75 ZOf VJ983 X 


7-29 6-30 
= •17 100.50 


9CT 1.71 
2573 2*71 


1170 SIXA-fTTNA 101 

Pf .50 .9.00 15/ 2/2985 S 

ns* irspn-A'SEsr 96 

99.50 B-Oj 151 3/1*84 


F-T3 9.3* 

3.6J ’02.50 

t.?S 6.23 
;.i- 291. =3 


“3T *P0 
1919 1971 
9 r T .73 
1379 15773 


T3 C<?=L;r?-?A;y)tA 


25.90 2 977 30rr./T*Tr-LC COPPER 7TS 94 7/8 

13.30 IJO.QO 8.75 1/ J? 1964 

rs K<vL ap *-»i! arc* r; ts 


15.00 -19*5 EETCRLTC or “Hn.T»rr:3 57 5/5 J."3 £.21 6.77 70 .SI 5? TO 227 915 975 

2-40 95-53 6-5n 15/ 1/2930 S .25 3. 52 133.25 1575 X365 TO 

OS D?'.UL»i-rn»TTrAL 


cgvewct cp sniAPors 99 5/s 

I 7.75 1/11/ ISM 

KEF7I3. mprvj 97 7/8 

I £-6=S 15/10/1984 

JXEPT. smrr;rr- 131 

9-00 15/ 8/1*33 

nrrn. njoptarp 101 

9-51 1/ 7/1952 

SO STWAPIWC D 98 If a 

£-51 13/11/19*3 

SE.T4P.-irE.D7r? A AST ICO 

8-10 1 =/ 1/19*2 


i?.*o suz 

33 a.co m l 
1979 1*79 SI 


3.C0 KU 396 913 930 
1*79 SI 


7.50 re 13 639 913 930 
1971 SIR; 


. 1.20 fA EA 2?5 913 93 975 
1579 BIZ. 


s I 

= ■ Su 

-j. v 1 1 OT y 
D 4- . V — 
ui -• . — ft. 

3-3 tw 


BORW/.ZRr. 

] 

LJ i 

0 f 

coupon MAiuitrrr 

. 



MARKET 
M4» US 


7"7i BJiTt-T TOEFL c<’*r 
91.20 t.fTJ' 15/ I, 15*9 


!. 3 19.63 P.P9 
6.78 £.*J 


t*<2 2.»n 

:-.ii dp:?’9 


CADSTT- scrj rrrE? f./N 
*.*J J* »lO*l»*0 

capital's ccnri rr no? 
».jv< i/ri ttn 


cin=.Y'“ TYTl «v 

f. ?n i5/i:/i**7 


C177 4 OK B7 OP (FTTOOL 
.'*•23 15' «/L979 

C2TT or COVENTRY 
' 8.25 1/ 5/IP70 

an Or COVENTRY 

3. *75 U 7/ 19? 1 
CUT OF DCWET 

9-25 15-10/1)13 

CITT OF EDIXBTR'LR 

9.00 i/ll.'II*’ 

city or GUinu 

8.25 15/ 5/HM 

cur or umront. 

9 .033 31/ E.-l«:9 s 


?: 7/5 12. ?N 1.44 

».:s 9.96 
92 i:e lo.n :•*.!* 

3-P3 If.tJ 

*5 *.!5 k 

6.7“ 10.5 3 
?? S/9 -88 8 .67 


w: 

f.7; 

IK.AO 

9.w 

io =.: j 

8.28 


or : *78 
»o :.«f- 
: -?i rr:»?r 
?n 

'««: i ?79 


359 US 953 ?3Z 1?5 
*4! *53 9:5 »« 
•♦5 *77- 

226 :i »J5 59 
•75 «4C *'5 
7ir 9X« ?;j 9*0 975 


f 5 7 -2 1.92 8J3 
IK :.'S 2.68 f.«S 


B.Si N.*4 
13-2.13 


930 935 955 
930 935 935 
550 935 *55 


175 I/I 5-3* i.I l 
2.98 P.r-» 
130 3*6 3.42 S.Si 


?? 1/2 1.96 *.13 6-29 
131 1.4 l.ZS 8.90 9-99 


930 935 915 
930 935 955 


CUT OP K6NCH1NTER 

p.:j i?/ 5/nci 


CITT OF NOTTINGHAM 
8.6’i 15/ 6/ 1? 79 


99 V2 J.«6 *-i= 
1.96 8.5J 

1M‘!.’8 1*« S-:8 


930 933 955 
96S 

930 955 ?60 


cowtrciAt rsrov 

J.A'S J5.'12/l*;s 


55 7/8 *S5 8.46 


cceortw ial miov 

P.M I3'12/1KS 


■? 2/S 8.55 P.H! 
5.IT (.51 


COCTTV-IOS TAT YTN 

9.00 1/ 2/19*2 


131 3.5» *.9s 

2.78 8.6b 


If 2.DO 
9.!’. J.R1 
1-0. no 


1*79 DM9-6 
*0 Z-15 


930 «41 950 
9«< 975 
•JO *35 9*1 
955 9*0 975 


930 93* 935 
«#& 975 


20.90 

1*79 

corpTAnxs rvr fi? 

175 7i’8 7.J4 9.A4 

9.17 (.74 

60 

1-50 

TC 2B 

21* 103 9 79 IX 935 

14.50 

?e.oo 

9.=5 1/10/(943 

4.44 (.14 

100.09 

I960 

1971 

LX 

950 9b0 975 

30.00 

1*76 

RLFCTMi-irr CCPNCH. 

109 1/4 2.79 8.62 

8.73 



GG EC 

218 to* 


9*. 50 

8.73 15/ 3/1JS1 





Li- 


15.00 

lfi? 

na 

•8 4.(6 7.25 

6.(9 

)n 

1.50 

SF EU 

328 103 9(1 960 975 

7.:<o 

98-30 

6-73 I5/L1/I9S2 

2.(6 7.6-. 

100.75 

19 ’8 

19 5 J 

I6LXZE 

> 

30.00 

1977 

na 7 lsisGE ev 

38 10.83 9.55 

9.44 “.Fi 

41 

A. 60 

re EU 

3=8 *** 


9.13 13/ 4/19(9 

risers 

e.25 1/ 7/1987 

risers TNT PTN 
I 8.75 17 8/1992 

G.O.S. INTERIM 7inv»'_. 
8-30 1/ 3/19*4 


5 2 3/4 9.09 9-17 
5.72 9.*8 
91 3/8 1A-17 9-90 
11.00 10.08 

96 5/8 3*75 9.11 
4.68 9.41 


107.00 
9.58 10.62 


19*5 EM«3 
6<TC -M3 

1980 0(1975 

*5 1.00 

1985 0P198 2 
45 1.70 

1981 1976 


335 930 933 950 955 
960 975 
335 ••• 


215 911 930 
950 955 940 


1974 C.r.S. TXaXMTWMt 
UW.OO 9.50 5/ 1/1973 


IOO 5/8 30.85 9,40 
6.36 9.37 


9.44 9.6! 

I0Z.01 


<5 1-00 

1984 19 78 


213. 911 930 
950 955 ISO' 


GdP FIELDS iBEAMCrAl 

IO-:5 -13/ 7/19*5 
GRAND Jtmoru’.ITAN HOTEL 

7.50 15/12/19*7 
GRAND ymOPOLlTAIi ROIPL 

9.25 1/ IM9W 

CTMDtAN ROYAL ntClA'iCE 

8-00 U 7/1987 

EU0ROS 

7-75 l/IO," 1987 

B6WFOH 

9.30 15/12/19(5 

HZLL SAMCEL CROLT GV 

7-00 31/ 3/1982 

SOL SAWJL c»rpp X-* 

7.00 31/ 3/1912 

HHL SAMUEL CHfmr 

8.50 15/11/1986 
ICI LTD 

6.50 15/ 3/1952 
ici lst rn 

7.JO 1/ 2/1992 


192 7/8 7.13 
5.*7 

89 9-55 

5.8* 

99 3/4 7.51 
4.27 

93 3/8 9.09 
91 5/8 9-34 
101 3/< 7-5S 
98 3-84 


9.27 5.72 

100.00 


101.50 
904 9.02 


30 1.0(1 
]•»’ DP 1974 
45T .50 
1*80 1975 
MG 1.20 
1981 197a 
60 1.20 
1950 DP 19 75 
30 I. 00 
19(0 PFI976 
6 PC I.M 
1980 1971 


■15 935 941 
9*D )I5 
9J0 950 955 
965 975 

950 955 960 
975 


9)5 950 955 
975 


930 932 950 
9*0 975 
930 932 950 
960 975 
960 973 


-- )» 3/3 3.8« 


97 1/4 8-4* 

US 

97 7fa 5-12 

2-29 
94 3/6 I3-68 


19 78 

30 1-50 

-1979 DP1974 
HOT 6.00. 
1979 1978 

AM 3-23 
19/9 19 7» 


436 934 9(0 975 


ia TNT ED 

3-25 1/ 1/1937 


96 1/2 8.31 


8.55 1.(8 

10L.50 


J LYONS 

E.7S ]/ 3/1986 
(UUNOET lES-H! 

I «• 23 13/ i. I9P7 ■ 

lANCASBIPE C.C. 

9 - JO 15' 9/1991 

LEGAL S CCNPPU. *"7CE 
7.635 U =.'1*88 
SET ESTATES 4 P*np 

8.00 If 1-1*91 
HET ESTATES A “to? 

8.73 1/12/19*6 

HIS LAND D-TL FL-: IIS" Tl E 
8.73 V 12/ 1*96 ' 


90C in. 00 
1*P) 1983 

30 3.40 

1978 l*7b 


456 930 934 958 955 
9*0 973 

350 105 9<1 950 960' 
965 975 

359 103 STO 930 9)5 
9*1 950 953 9*0 
96J 975 
143 *** 


34$ 210 ZIP 1)0 93? 
959 *55 960 973 


NOLAND BIL ns SFPVXCE 
8.75 1/ 9/ 1992 


MXZAiZD THDET 

9.23 15/10/1983 

HATTONA3. 4 CTHTBLATr ENT 

7- 75 15/11/19*7 

Hatxoxal coal zoard 

8.00 1/ 9/1987 

RATIONAL COAL ROAFD 

8- 625 13/ 7/1981 
hciosal coal bo.ud 

*-625 AS/ 10/ 19(8 


8.43 

101.00 

9-41 

105.00 

9-09 

103 .00 

8- 93 9.28 

100-30 
9.14 9.’) 

101. 50 

9- 22 

102-00 

8.48 

101.50 

8.49 9.46 

101. 50 

8-60 


7.50 
197* 
so--: • l-in 
19(1 DPI?)* 
«n ■ .75 

198D 1977 


333 115 930 935 935 
9-0 


346 9JO 933 960 975 


69C 10-00 
1953 DF19M 
60 7.50 
19S5 DP1984 
30Y .7 S 
1978 1972 
6»: 1 .24 
1950 DFL975 
45 5-00 
1985 flPIS.rj 


3(6 “30 953 960 165 
. 975 

(OB to* 


” 1/8 l l:S 


A SC 2. SO 
1980 DF 19/6 


CG EO 351 to* 
la 

CC BT 359 10s 


1“76 XUltaAL WESm-TOEr »>Y 

lW.CO ?.00 .1/ ?/t?f 3 

1971 ELESGET 

98.00 8.50 15/ 6/1986 

1973 EHX TNYRHSATirccAL 

19.00 8-00 1/ 3/19E8 

1977“ UK CVETSEAS m 

100.00 9.00 15/ 8/1993 

1971 BAHT ORfSABINArifK 
100.00 8-/5 1/LUL3S6 


>9 l/Z 8.0* 9.n8 

U ‘ 5.15 9.12 


9.05 9->B 

101.00’ 


96 7/8 »•»* ^•9* 5 

6.M 9-“» 


8.77 "18.15 

102.00 


90 3/8 9* TS 1 
6-90 9-93 


«3 1A-=1 **93 

10.1 L 10.05 

97 3/8 8-42 9-15 

91 31 AM so; 


8.83 

101.00 
9-68 10.57 
101.50 

8.96 

Ui.QQ 


64 7-00 

1981 091980 
(0 2.5A 

1981 WI9J7 
44C -*0 

I«=l DP1976 
'iS 2-00. 
I“f5 D8IWL 
M 1-25 
iJ7? HPlS/» 


*34.932 9)5 
*4’ v?a 955- 
965 975 


935 ISO 955 
965 975 
930 935 950 
960 975 


SJO 930 135 
955 960 9/5 


" Apt. ArCTIKLAC . 

I 9*29.'- U/.G/OU 
i£CA - - * 

I 6*00 . 55/ 6/1983 
ASIA _ . ' ;• 

) 8 JO 1/ -VISES 

JBKAG COPCO ' ■ 

KSO l/.X/WS 

' enr or axeaw-’ . 

I 8.75 : 25/12/2987 

cm tir.SKKXXGut - 

I X J75 IV 2/29)2. 


•»> f £S 13 ; 

-,-.’97 JM 2*W 1*1 

, I:S l:S 
S:« 

. 96 3/8 9.5S 9.32 


’"eloo i/li/issv 


315 135 52C 725 7*0 
I’J *72 941 355 
ft) 975 

315 to* 


6.75 -1 5TV133X 
88SELTK ••* . 

8*30 1» 2/1984 


V™ 

i:S l:H 
w " 8 tthVX 


9*43 IO.M 
101.50 
6J6 9*51 

100-50 

8.83 

IOIJOO 

9 J6 8*79 
1 200.25 

9JX 9-59 
100*75 
9.2* 9*54 

'102*05 

6,20 200 C23 

6 ' M XO0J0 


g,ns 

. '101*30 


30 1*00 

- 1981 BF197S - 

- 90T" 1-30 
-1979 • U» 
A3C a JO 

1979 1974 . 

SO ' 1*00 

1980 SF 1971, 

.sec aJL. 
-1984 WIST* 
». .5*00.. 
3987X91983 
30 2 J? 

1978 3971 

SO . 1-M 
1978 Sf 1969 
43 3.00 

1981 ISO 


313 388 332935: 


1U 305-5X0 795- ML-. 

.. -B55^9WdS5fJZ’ 


m 105 520J 15,^35 
-955 968-975-.'-, 


223 103 235 »3 973 

TO? 

457 M'S-mim'.’ 

.. «5 939 9Z3.^;,,- 


215 105 !3 T33 7<0 
9=2 935 95= 973 

315 105 3=9 :ar tj 

97= ?il f IX $M 

575 

315 205 520 725 710 
932 KI “25 9t0 
975 

313 SCO 735 740 
922 9=2 PIS 960 

381 LSS 749 935 975 


CO t AVBHa 
- 6- DO- » 
s&raof 

GOTiVSEEEX 
7J2S 
COXAE u ta 
6-00 

GOTAYKEK 
. 8.125. 
CO AAV tWIU ' 
6*25 


,1/WQH 
V.9/L97X 
IV 9/1982 

157. Vmx : 
lifsnstr 
1/lVXtt* 


” u * ?.1i 


99 1/2-' *26 8.61 *»7S' 
9*6 1/2. 6*30 8.6Z 7*90 
*7 1/4 3.63 8.89 8.33 


30 2-50- " 

1578 1971 

2.75 
1967 


.233 IBS 3S--735 ML : 

935 960 975 . . 

273 iOS 52O 7XL041 

955-960, 923'-' - : 

' ai5 i(o ss> a£nr 

745 750 91fl 932 
. .955 9M 975 - 

' S2 105530 735' 5U. 
955 960 975 - 
E72 10 105520-799' ■ 
941 955900975 

21* *ro 


833/8 1 :% 1:% 

2 97 7/8 5.3* 8-75 


8.70 10.28 

101.00 

ZM 101.50 


*5 2.00 

19SZ 1978 

30 • - - 

19 K) 


1976 GCXAVBCTS 
160.00 • 8.15 , 13/ 1/1913 

1967 OUXCES 

97-30 6-75 16710/1987 

2971 GI0CB 

IOC JO 8 jo:. 13/ 2/2989 

1975 CUSCis . - 

200-00 9*75 . 1VXVX980 


97 6-63 8-85 

4-63 9.05 

* M3/ < Z:Xi?:iI 

: 93 1/4 * 5 :" m 

IDO 3/8 2-55 9J3 


Ml. 9*48 
101.08 

8.12 

102.25 
9,12 " 

104.00 

9.71 

101 JO 


SO 6.00 
1982 1981 

30T -TO 
1978 1910 

'30C 1*00 

198V 1573 

49 

1978 E7 


SIS STO PCS 93? 49» 
93 2 935 942 9V 
959 960 975 - 

21 * to * 


339 105 735 95S SS : 
975 v ..v ”, 

359 205 72* 735-955 
' 965 975 


• 359 35 105 Sia pS 2 
735 8U 935.MB- 


328 105 ICO 775 740 
9)C S4L 9=5 560 
STS 


9.75 1/ 5/1983 


1007/8 S3! 9I! 


S-67 tO-S> 

102.00 


-45C 1.25 

1980 SF1976 


23.00 1WT* i£?r»LT7 0? r«-L--M4 I 9? 3/3 -■-! ?-8L 9-CZ l.n r? =7 6£3 35 2=5 3=5 218 

ICO JO 1‘I!‘I982 S 971473 IS 915 939 6 J 975 

30.30 1*7** SEprpLTC OF FA3-ATJA J. 99 1/8 i.7? 5.*0 9-56 «.»1 « =-CO N? S 715 TS 911 515 953 

101.00 9-10 13/3/11*7 111.30 13f3 PTUTJ £=LS 5=0 $6= 575 

C5 so--iA“.?-PAPrA r.o. 


59-50 7.50 IV 6/1582 

1977* K2NCDS1 OT SWDR *’ 
99.75 8.25 . 15/ 6/19*7 . 

1P77- KSOKM OT SCZWU " : 
99.25 8.50 . IV U/ 1987 * 


96 1/8 4J4 8.67 


735 8C5 135.MB 
955- 9*5 975 
359 35 105 320 713 . 
73S B65 935:940. - 
555 9S5 975 -J 
5l7 «** " V 


93 9-04 9*08 

7. 24 9. 23 

56 V* 9-46 9 J1 


8.6*- 9.79 
101-50 

9J3 9-35 

IDO. DO 


45 -4.00 

1983 1978 


.■>: *.?1 9.22 11-D4 20 1.29 PC EC 456 TOP C’l K3 915 

..i ico.so issi 3-^:8 ix -9^ 9*1 975 


1977* rnxacjf or a w a rn 

39.75 . 94)0.. 15/11/1997 


19.(6 9-60 9.53 9.88 

12-43 9.69 103.22 


30 6.70 

1989 DPI 963 


6J0. < 1/ 9/29BO. 
xns • 

8-00 . 15/11/1983 


15.00 !?64 rxprr’Tc c-r pwitoal 9-4 3/8 ?■*’- ?.9? 6.17 ■): 1.93 r* ez zjs.ies 915 9ro 

7-00 97.50 5-75 1/671*84 8 =•?. 7.*, 130.03 I?79 2*i0 L.NLS • 9.197? 

SO-no 15f5 Siren 1C or TPHTTcal 93 3/4 •-••*• ’-?) S.Z3 70 l.CJ S? TO 399 !?3 SCO 9a 9=0 

9.J4 97-50 5.75 1/ =;i“iS S =.:i :.5i 121.03 =975 . 1S7I TO - 9=1 975 

rs 3 d;lai n-’ni rra rota 


1.40 rr TO ;95 913 930 975 
:?:6 sic. 

2.00 TT e 396 911 913 930 947 
rr:9-( s:beli 

1.0-7 rp r; 396 91! 9U 933 5=7 


6 JO .15/ 3/1986 
L Jf. EIICS5DB 

8.50 15/ 9/1983 
L-l. SICESCK ■ 

8.58 t IV 4/1989 
l.S. EDC5SCS 

9-25 -. 1/12/1985, 
L.M. ERICSSON * 

. 9-25 15/ 9/1991 

58/ OCR IKSJO 

9.00 15A0/D» 


57 5/8 2.Z6 7-16 
1.Z6 8J3 

97 1/2 S.*6 8.57 
3 -*6 BJ4 
96 1/2 7.79 7.22 
4.29 7-60 
99 5/8 5.30 8-57 

96 1/4 1 ?:H ;:!S 

101 1/2 7.51 8-'9S 
4.57 8.83 
99 3/4 13.30 9.27 
1).U 9.28 

90 3/3 6-38 10.78 


10.98 9.05 
7-68 9. IB 


7.51 8-95 
4.57 B.S2 


13.30 9.27 
1).86 9.28 


6.15 

10012 5 
8.21 ■ 9.72 
101.50 

6.85 

101.75 
8-53 9.06 

101.00 
8.83 10.04 
- . 101.50 
9,11 8.61 

10005 

9.27 ’ 9-47 

101.50 

9.96 

1111.50 


30 1-25 

1978 1969 

45 U JO ' 
1980 - 1979 
9OT 1.20 
2979 . 19n9 
ASC 
1980 

ASC 2 JO 
1*8= I719N 
45 C 2.25 
1980 1971 

4 SC 1-75 
1984 XP1977 
60 1.75 

1961 PF1977 


479 » 32 31 55 
fcO 530 805)27 
931 929 9*3375 
479 20 12 3) 35 
60 8CS 927 351 ■ 
939 940 973 
272 105 520 735 94L. 
955 -'950-925 -V « 

3K TO* 


359 105 320 735 Ml’ 
955*75-. ' - . 

273 to* 


272 105 735 927 9X1 
915 960 47?;- 

273 *** ---- '* ’ 


197B MO OCR KBJD - 
IM .00 . 9-50 -15/ 2/1983 

1977 SAA5-SCANI1 
9J.X5 8.50 15/ 3/1989 

1971 SAOIUK - , - 

58.50 -9 JO V 8/1986 


94 V4 4.73 10*96 10.03 
93 5/4 10.79 9*44 9J7 

101.50 

100 7/8 8.17 9 .04 9.12 9.44 


6 « 1-00 
1H0 1T1977 
JOG 2-50 
1963 871978 
AST .75 
1981 1973 


48S 105 270 7L5 739 
805-935 955 960- 
9T5 

6X5 105 270 7IS 735 
935 955 960 SIS 
273 to* 


315 10? 305 520 715- 
735 ,745 932 93 


157S S4SDCTK ' ' " ’ 

ISO JO 9.50. 15/ 4/1986 


7.H8 9.(4 9.48 10.01 


755 .745 932 915 
S50 355 960 975 


T-'lVTi 


Cg : £i|. RCRPOWSR,' 

32 • oSrl -Couro.,:.iATUfiiTY - 

2 s'si- ... 




8 |:|l! 

nm. 

< ! 3 q 


si ’tills!! 


15 


;'/i1n 

uj^_l • 


D «r 

z 

S5 


MABJ3T 

MAKERS 


CS Dtr- LAL^-CTD FJ-TWK fTOTmTD) 

szed necwA7T(r:(L 53 5/8 

9 -GO IS/ 5/1987 


RIO TUKTO-ZINC GW 

6.75 1/ S/1984 

RIO TIITO-ZTRC IB 

l 6- ’5 1/ 1/1984 

9ELPCT-.0* TRCPT 

8.7? I. 1 8/1)89 

SLOUGH ESTATES 

8-00 1/ 2/1988 

SUPCt ESTATE? 

8.75 IV 2/1986 
SOUTH or SCOTLAND FLFCZ - 

8-25 1/1=/ 1981 

TEE* STD K CDRPPKATTC1 
8.00 1» 4/ 1979 

TUB* A CITT HirO>LAM> 
8.00 IV 1/1988 
TRUST ROUSES G»*H1P W 
• 7.U 15/ 6/1985 

SSDST MUSIS G?i>?P ZB 

7.75 IV i/l“85 
TOTTED R19CC1TK CKi 

?.M 15/ 5/ Iff* 


e.?« io.il 

7-65 13.15 
92 1/8 5.9= 6.41 7.J1 
S.V 9.(0 

92 V8 5.12 8.4? 7.33 
3.6? 9-0 

90 3/4 11-17 10.16 g.64 
9.62 10.31 

90 1/8 9-68 9.60 8.88 
5J) 10-32 

96 - 7.72 «•(> 9.11 

5. BO 9.79 

.98 V.8 ' 3.SI . 8.69 8.37 
-99 l/Z -.84- 8.51- 8.04 


61 10.97 
101-30 
33 

102.00 

33 

ioz.oo 
64 11.00 
lo I.no 
as 

102.00 
11 10-48 
100-00 
37 


AS A-50 
1983 DM963 


359 219 9X 
9« 965 
346 950 940 


1*F( DIM] 
MC 1-25 
^lf«l nr 1178 
•IOC -75 
1981 1977 


345 930 950 
975 
3=5 *** 


•306 520 930 
“75 

306 920 930 
975 
-412.*** 


UNITED MO NT fl* TlrpT 
8.7S 1.IV198S 


GS2TED tOCHM 

8-50 1/ 5/1985 X 

UEiTEU rrsew 

8.875 1/ 5/1993 X 

CELLCOHT EDCNDATIDK 
8.2S lr hi 1“47 
TOLL L* MS ( O.D IttiF 

I 8-25 1/ 6/19(7 

US pOlLARS-URTTTT) STAJEX 


76 Vi 9-63 13-27 
-. — 5-13 14.85 

107 . 6 -.88 6.45 

’• 3.33 5.40 
94 7/8 6.8* 8.77 
3.33 9.63 
98- • 10.16 I.M 
9-8* 90= 
92 10.31 10.00 

7.12 10.38 
99 5/8 6-92 8-75 


14.12 9.(6 
11.91 9.51 


96 3/8 . • .01 8.95 
_ 4.51 .9.29 
96 7 /s 9 Jl ' 9.77 
5.62 9 JO 


10.46 

103.00 
7,24 <0 

102.50 

8.17 

102.50 

9.18 9**3 
101-50 

9.51 

182.00 
8,71 8.76 

IOC JO 
9.36 «.56 

100-00 

8.56 

102.00 

8.52 

102.00 


90. 1.50 
1981 DM 979 
90 . 2.00 

1978 1973 
•0 2. 00 
19*8 1973 

45 1.20 
1984 DP) 9(2 
45 l JO 

1979 DF1975 
M 


323 930 960 

346 938 95S 960 975 

346 9SL 980 975 


■359 930 150 
965 975 
458 32 33 


=!! in 935 
9’5. 

Ml 930 935 
960 973 


ANAR HOLDINGS 

6.25 I t 6/1982 
axaz nrr cap tar» a.) 

8.75 1/ 4/1PB6 

Akax nr cap 

8.75 V 4/1996 
AUERAHA BESS TNT CAP 

6-75 1/ 7/1987 

ANEUDA HESS ITT CAP 

. *.75 v mm 

AN&ICAB HANDS 0/S 
8.00 15/11/1991 

ANEucan Harass copp 
f.90 IV i/if 89 
AJBCO l NT FIR 

6.75 4/ 1/1983 
AMOCO on. BLDGS 

5.73 1/10/1985 

UHCO HIT FTP 

7.25 1/ 4/naO 
AEHLAJffl OIL rn 

(-00 15/ 6/ 1987 

A1C0 0/S CAP 

*■25 1/ 3/1985 


97 

101 S/S 
101 5/8 
war n i/t 
xw "91 V4 
100 l/Z 
8* l/Z 
99 3/4 


AJ1 7.14 
2.14. 7.84 
7 .8 A 8.45 
4-95 8.33 
7.84 8.45 
4.95 8.]] 
9J9 R- 17 
4.73 9.15 
9J9 8.06 
4.73 8.97 
3-46 7.30 
2J7 7.7Z 
in- S3 11 .59 
7.35 I2.31 
- 4.60 6. BO 
2.60 6-84 


96 7/8 

S’ * 

9* VS 


7-34 6.19 
3.84- 6.79 


r.B4 T.61 
1.39 7.76 


96 7/S 9.04 8.51 
A. 36 8.87 
99 VS ’6.75 S-31 


6.44 

100- 7? 

8.61 7.81 

101 - 00 

8.61 7.81 

101.00 

•0.41 

101.00 

7,36 

101.00 

7.96 ».M 

100.23 

10.55 

102.00 

6.77 

101.00 

6.02 
' 103.00 
7.30 

100.00 

8.26 

101.00 

9J8 9.43 

100-50 


3(1 2=20 

1978 ' 2972 

30 1 .36* 

1979 DPI 974 

90 .82 

1979 Dri474 

30 -3-90 

1980 DF1979 

30 3.00 

1980 DP 1975 . 

30 2.00 

1178 DP 7971 
IOC .50 

1981 DPI 9/6 
3D 2.00 

1978 1969 

30 1.47 

1978 1969 

30 2.00 

1978 DP1971 
30 2-5D 

1930 1978 

30 1.50 

1983 PF1980 


i 520 80S 938 
,.080 975. 
i 870 941 960 


CCl^VfT- , 


. 399 800 B70 920 873 
399-920 947 ’■ - 


520 80S 870 
941 MO 
303 870 973 


Uvi. 


-( : 


> 105 920 809 
941 ISO 975 
070 520 805 
541 960 975 


*«r :rr ^ 

***&. -H; 


ii6i 'Anar products nrr • 

100.00 7-75 1/1=/ 1910 

1966 4F0H O/S CAP 
97.5ft 6.13 1/ 2/IfRX 

1978* BEATRICE POOD? o/s 
100.00 7.75 1/ 5/1)83 

1970 SZiniCE FOODS O/S 
'100.00 9.00 15/ 3/1985 

MSI HHDTX K TIH 
91-00 8.00 V 7/1979 

I17i HOT (D.L Drr Fin 

99.00 7-73 15/10/1987 

1969 BURn-PUWER O/S CAP. 

97- =5 a.DO U 9/1)79 

1972 BURL TUG TOE O/S CAP 

98- 00 7.75 1/ 4/ 1947- 

1970 CABOT TNT CAP 

99".oo i-:o .15/ i/mo 

1*7= CAXflSF ENT 

91- OD . 1.(0 15/ 6/ 1)87. 

1987 CELARESr 1ST US 

98 JO 6-I3 1/ 7/1982 

1968 CHEVRON OIL ft,'? 

9B-56 7.00 1/ 2/19R0 

19*9 CH R YSLER O/s CAP 
97J0 7.00 13/ 2.'Wg4 

1977* CITICORP 0/8 PIS 
100-00 . 6.73 15/10/1980 


98 VI 2.51 8.46 
1.41 8.84 
98 3/S 2.68 6.93 
* 1.68 7.26 

' JS 1/2 4.92 6 .65 


103 V8 6.7) 
4-46 
99 9/8 1.09 
.70 


93 1/4 9-38 
6J8 


99 V« 1-36 
■87 

06 1/4 8.84 
5.84 


7.88 

IOO. 50 

6.44 

iOO.DO 

8.03 

101.00 
SJ9 <0 
101.00 

•JJ 

100.00 

-8.31 

102.30 

8.02 

100 JO 

SJS 

100-25 


,30 -75’ 

1978 DP1972 
30 1.50- 

i»7» nr it?: 

30 ’ 

H80 

30 1J0 

1978.01973 
30 2.30 

1978 BP197D 


488 ION MS' 218 920 
935 941 947 955 
960 975 ■ • - 
437 105 935 941 


458 109 330 805 93 
9*1 960 «3 
4BS-*** 


. -2* - 
**^Ta'. - 


437 105 935 9 IS 


1978 0X978 
30 2.50 

1978 DPI 970 
30 . J JO 
2“T9 DM977 


4S6 ION STO 870 999 
941 960 975 
411 IDS 927 -935 979 


101 1/E 2.30 
1.92 


96 5/8 9.04 
-6.63 

99 1/8 4.07 

•• • f i-m 


-97 1/A 5.T2 
3.38 


I977> cmanr o/s phi 

99-75 7J01S/10/IJBI 

1977 CITY lwans) FUf ■ 
100.00 8.75 1/ S/1904 

1966 CLAST. Eomrunn 0/5 

100.00 4-50 1/ 3/1911 

1971 COTOCO EDROriXANcr 
M.2S 8.00 15/ 2/1)86 

1973 CdSHLlDATEO POODS 
99.50 7. SO IS/ l/i SJl 

1*48 COSTL).Q(TAL orL l\T' 
98-00 7.00 If 2/-.1KT 

1970 COXTINCiTAL OIL Tvr 

98.00 9.50 V 771985 

1971 towns «. CAL IfLQnrX 

igo-W 8-25 IS/ =/ii#4 

197D CQRTIHE1TAL TFLEPaONE 
99.75. 9.00 1/ 2/1)63 

1971 COWING 1ST 
100.00 8.50 13/ 3/1W6 

km anm-BMKEi nr: rc/f 
100.00 7.50 U- 9/1960 


90 1/4 2-38 8=53 
95 7/8 3-38 8-43 
OB' i/8 5J2 9.17 


9,58 4.27 , 

100. OQ 

8.28 

101.50 

6.81 

101.34 
6.99 5.50 

100.00 

7.20 

101.50 
7,01 ' 


.30 1.00 

1978 1971 

30 .73 

1975 0197a 
30 2.00 

1978 197) 

30 3-50 

1978 Dri*74 
MC 2.00 

1979 DP1J72 


418 105 320 870 939 
' 941 960 9?5‘ 

437 35 103 305 320 
335 870 955 940 
941 930 960 973 
449 IDS 913 975. 


PC SU 454 **• 
IX 


J® or 411 10? 520 805 870 
« ' 935 941 960 975 

pg ur Da ids im sm B7o 
L * 933 9*1 960 979 

7C ST JS) |0| 93S M1--06O 

PC RB 517 TO* 




8.92 9-13 

100.00 

4.93 

100.00 

8.04 9.01 

100.22 

8.03 

.. 100.375 

7.04 

100 JO 

9.02 6.75 
RW.ZS 

8.22 

103.00 
8.88 6.73 

160J0 
0.30 7.77 

102.00 

7.55 

100.51 


,3d 2.07 

IMS m»7B 
,30 I.SO 
1)78 9PU76 
M 4.00 
.1579 01976 
,WV 1.00 
1340 DM976 
.30 *3.00 

1978 19b) 

30 1.X9 

1980 DP 197 1 
30 2J0 

1918 016)6 
30 1.70 

1979 01972 
M 1.50 

1979 0157b 
JO I. OP 
1978 15/2 


PG RIP -235 IOS 218 330 425 
*■* 520 933 980 97) 

ar« 8i «. : . ; 

P| EU 455 *** 


456 lOS 520 803- 070 
9J5 9*1 960 975. 
456 105 520 |41 975" 


i 5 - 

;! ?V, 


38 105 935 975 
38 103 520 975 


4ir IOS 805 870-433 
941 960 973 


“JSJiWfe'-rf: 








1 






*»« 


’ 5 -j 

! Ss 


-IS 
? I”, 

:■ ij. 
^ ** 


pa 

J*»i 

3 Ml 




~ in 


:s sa 

•IS *15 


:?a 915 
••.0 jjj 


- I 


- Times Monday June 12 1978 



17 


P 


BOflRO\VS»' 

COUPON MATURITY 


J|1 

5! II 

in'll 

l!!l, 


?? wm-gs-cyina -mas tcanstsn 


=JS 

ski 



X & 
="] =H 
sn in J 
On' 


iO 
= o 




o 

2 e 


“I 


BCCaOlVFBJ 
coupon matub/ty 


si 


s2 

lu «- 

5 : 


:s 

ffjs 

ii 


— < 

isa 


2 ^! ^|i 


.liis 1 

15 


MARKET 

MAKERS 


a- 

Sf | 

SS I oa 

a? 

I £® 


BORROWER/ 

coupon MATURrry 


SI 


|3 

is 


*3 

I? 

il 


Si 

So 


§5 

53 


& u 
r> 5 

1^ 

cat 

Lga 


g £ 


a 

e 

if. 

s- = 

°s 

I 


MARKET 

MAKERS 


13 JO 
- 13*50 


W2 cuttowwamt iK rzi 
».» 4.00 15/ «/;»7 


w Douus-rann katis (cotse-ito) 


us MEuas-ssrrm siatte ccurewrai 


*0.60 
. 4.25 


70.00 

15.10 


. 32*3 COKUOB 
W.25- ‘ s.7J 

W« WUU.IR 
*9.50 «. K 


M 3 /* r.o* 
3.6 7 


1.33 SJ7 
I.H JOO.H 


30 .50 

1980 BF1»75 


K B 

IX 


u vmo 

V van 


98 3/0 a.M 

MS 


5.92 


96 3/4 S.T9 
545 


120 .00 


6.31 

7.62 ■ 101.00 

0.33 8*27 

A* 72 101.00 


,10 

l»:a 


30.00 

uum 

30.00 

55.00 
5040 
38.80 
3040 
1440 

30.00 


10.00 

10.00 


2240 

23.90 


,J9N5. sob cbxzcu o/s cap 
100 -W 840 15/ 11/ 19 86 

«« “» ttWBC 0/S CAP 

W40 a.50 15/ 6/1986 

1972 XSS0 O/S S7 
*7.00 8.00 13/ 3/19M 

wi two «a m 

100.00 840 15/11/1586 
.wo. xiso 0 is rev 

2 00.00 9.00 13/ 9/ IMS 

,2’Ji mst CSXCACO O/S FIB 
UO.OO 7.90 13/ 1/1910 

W” n »K’P»S 5 n. 7 A 5 IA 1ST 
1M-00 7.ea 13/11/1984 

1976 ixnuir umunosAL 

»-M *-M 13/ 3/1983 

■«72 *** *»*1CA5 russmt 

WO.SO 8.S3 u 6/1*87 


1-35 
1*69 

J*> MS 
1979 Ml 9; 6 


H 1/6 6- S3 I.» 8-U B4X 
U1.23 


AS 
IX l 


101 7/8 844 
6.71 

100 3/4 7.79 
442 

100 3/4 8.(6 
64* 

106 1/2 7.30 
440 
*7 VI M3 


8.17 844 
14! 

746 744 
740 

746 7.96 
743 . 


MJ 

102.00 


? .14 841 
.74 


7.12 

100.25 

7.53 

ISO. IS 
6.8B 
100.23 


.30 1.09 
1979 £91476 
» A. no 
1979 9919;* 
39 2.80 
S9t» BP 1 975 

M 1-30 
i960 DP1971 


431 35 103 M3 320 
$35 870 935 94 
9*1 *» 9*a 975 
KB JD0 105 520 805 932 
or 9*1 960 875 

K W ASA 35 IDS M5 320 
U 795 870 9U 94 

9A1 4M 960 9-5 
PC W 408 M 103 529 530 
U MS 970 911 913 

*« •*! 970 9JS 
K 89 546 105 405 870 931 
LX 941 960 9)5 

pr. a *54 *** 

LX 

KR 


20-00 

B.03 


1»« PCC»»TAL 0/S CAP 
$6.00 8.25 1/10-‘1975 

30-oa ns** oemsiTu t*t ns 

99.00 8.90 11/ 1/1*13 

1977 0CCXMIK4L 0T8P5EA- 
100-00 B.75 1/ 2/1917 


99 1/8 
94 3/8 


1.34 r.«l IJ* 
1.09 9.11 
A.*3 9>48 l Jl 


40.00 


»4 5/8 1.48 942 9«« 


73.M me* occidental vr nr 

99.08 8.8*5 1/ 6/1983 


X 9/1 


55.W 

1I.U 

30-00 


38.00 


KB 436 103 135 *41 *72 


30.00 

26.18 


0.76 7-l» 


92 3/4 6.18 
6.81 

101 1/2 4.7* 


N 3/8 *41 
5.80 


9.14 141 
9.63 Iff) -00 

149 I4> 8.31 

100. 10 

1.53 U1 «.»' 
«■« 100.15 


,30 .50 
2*78 W19TI 
50 .10 
1981 IT1977 
40 :.!0 
i960 Drl»;7 


FC » 341 *** 

u 


FC B AM 955 973 
IX 


30.00 

6.72 

20.00 
16. 00 


25-00- 

23.30 

90.00 
*6.00 

20.00 
20.00 


1972 
96 . 00 


?23 ; 

-39.00 

13.50 

•’MU 

- .'30.00 
- 24.37 


. . es-oo 

?!-J :is 

81.25 

5 -5 »7J 

15.00 

11.75 


15.00 

32.90 

0?1 • 

W-00 

;=!•« 

40.00 


50.00 

■ :* 7J1 

40 -DO 

• Tl-u J-J 
i Q ‘S 

20.00 

; ssi 

15.00 

■ -y> 

12.50 

’ s:i 

13-00 

24.00 


15.00 


3.70 • 


15.00 

-13-00 


55.00 

,p ■*:’ 


i: rf: '' 

.13-00 


. 13.90 

>:i --il ; • 

la.so 

15.00 

' 725 575 

7.80 

I* 

35.00 


ii.es 

' ‘ ’’ z - t 

£3.00 


1C. DO 


30.00 


18.75 


25.00 

20.50 


35-00 

55-00 


25.00 


14.50 

-■ • ■ 

30-00 

. . -28.00 


25-00 



• % 

20.00 

lt.40 


20.00 

• • ■■C 


• 

40.00 


2£.» 

. . 1Z.SD 

I s 

20-00 

i: - n 

r ‘ 

35-00 

27.00 
20-00 

• 7-M 

20.00 
. 6.00 
■ 30.00 

30.00 


. 15.00 

*5 

. i - 7.JO 

.25JM 


.23.50 




vamji wax oss 

' 8.U 75/ S/1987 

. 79 * i aatauL sxanc ors 
100*00 A. 23 1/U/lttS 

1968 BBiau win ne 
*8.50 7.00 1/11/1980 

1971 BBrOAL HELLS TO- 
98.75 . 8 .00 1/ VUM 

1971 - Q6WHAT Humu n It vr 

98.50 

167S 
99.73 


*7 Si'S 8.96 1.(6 8US 

5-96 8.78 100.23 

*4 1/8 7.51 7.13 5.12 

5.36 8.12 100.00 

91 1/S 2-A2 7.13 7.21 

2-A2 8.30 101.00 


AS .50 
1*79 bpi*:* 


» ;.m 

1978 BT'176 


KB 485 IBS 7» MS 530 

LE 915 9M 97S 

H B 327 35 M3 305 320 

U 739 S7D 9A0 9*1 

9*7 9ffl t»(l 

K a 359 35 105 105 520 

UC 9*0 975 


25.00 

22.15 


1*78 
200 .90 
1976 
100.30 

1974 
100.00 

1975 

* 8.00 

. 19/0 

1 H.:fl 

1*71 

1M.00 

1*75 

H.S4 


OCaSCTTAL O/r. CAP 
t-SS IV 3/ IMS 
occnnuL us mi. 

9.75 If U 1*11 
acexosm, o/s to 

9.75 1/ 7/1913 

OCCIS OCTAL 0/9 LTD 

10.00 U 7/1991 

one KLffATot nr <up 

8.75 U 5/1995 
eews-cowoe KBnrajhS 

9.00 V 1/1*86 
PACIFIC LICBTTSC n'S TO 

1 .00 15/ A/ 1986 


101 1/4 

va 1/4 

102 7/1 

m Ui 

193 1/2 
163 111 
95 7/1 


3.79 
S. hi 


9.69 

8.49 


2.68 1.73 


5-09 141 



so ?.oo 

PC B 

447 US 935 975 

33.00 

1968 

100.00 

1978 991978 

u 

33-00 

133.00 



r~. re 

708 •** 

33-03 

I'M 



'LX 

30-00 

100.00 

10.10 

3" 3.80 

pc rc 

488 35 105 ?! B Aa 



io:.qo 

1952 rm:f 

LI 

52) 53 910 9)5 
9(0 9(1 975 

30 .CO 

19^ 

• 9.43 

30 i.oe 

K B 

708 35 Vfl SIS S18 

2S.CD 

100,63 

100.60 

l-i) 

*913 W19I0 

» :-:i 

LX 

rc m 

£30 (JS 935 9(0 
941 947 

U? 105 935 915 

:d.m 

11.25 

1957 

130.00 

100 -SO 

1910 911973 

IX 


25.W 

197? 

8.18 

30 

JS IS 

488 35 101933 940 

22.C0 

93 JO 

100 JO 

mo 

LX 

975 

36.00 

’.9i: 

1.U 

■W 1.50 

pc re 

488 35 105 135 9(0 

27.O0 

96.25 


, n 95 3/8 2.09 9*78 7»0B 
1/ 7/1380 J*i.9 10.30 

W M 1/4 2.09 9.92 7.16 
lrV 3 11.10 


6.75 1/ 7/1980 

tS »LUES-Hn.7I!:*TICiTAL 


kAffxtru sc errmr 

8-00 3U'12/I990 


QnSSIAHD AICMTSA 1*7 
640 1/ 6/1982 


MIZEISLASD iimXA FIB 
8.25 1/ 4/1987 


Q7EEKELA5D 1UHU ITS 
8.M U V1M6 


3 J» 

2.41 

4.92 

4.30 

6.17 

9-08 

9.86 

t.iJ 


9.17 
9-W 
1.24 
8. 85 
8.55 
8.37 


5.7* «-■: 
100.00 


1951 pr:i'6 
30 l.*! 


1390 BM9.-S 
33 1.50 


IX 975 

Ktt 468 105 915 975 

LX 

K B 411 185 870 935 941 


Sn.CS 

12.00 

30.00 

£7.09 


1979 
ICC *30 
1972 
99-SO 


S>1 

l-M 


8^4 


30.00 


1174 picmc UORTOC 0’S TO 101 1/8 3-01 S.Il 
JI-5D 9.25 15/ W 1981 

ls.oo 197? misvc.r o/s m X V* 

11.70 67.50 8.00 1/ 3/1987 


1.92 

5-54 


I JO 
8-S6 


8.30 


a 

19' 6 


15.00 

11.20 


1971 PBXL1P MBBIS VT Cap 
98.50 8.50 1/ 6/1*96 


-103 


8.67 

ii;b 


K Hf 399 JOS 5a 805 920 
935 9(1 9*0 9TS 


8.73 
Cools nrc 

9.75 


15/ E/1986 
15/ 6/2 M3 


1971 

97.00 
1971 
99-00 
1946 

100.00 

196B 

100.00 

1977 

100.00 

1976 

100-00 

197S 

100-00 

1971 

98.00 
1971 ‘ 
97.50 
1568 

96.00 

W70 

100.00 

1977* 

100.00 


noun ik 

8.75 15/12/IMS 

GTX 1ST 

8.25 15/11/1988 

enu A TESTERS ITT 

6-50 1/12/1180 

COLT 4 W BSmS IST 

6.50 1/11/ 1980 

CffLF-4 CESna-l VST 

8- 25 .13/ 2/1984 

W7 4 g PlEKJ. IS? 

9- 13 1/ E/1M2 

WLF 4 S8STW 1ST 

9-75 IS/ 6/1980 
BAA5 O/S CAP 

8.75 1/ 6/1988 
BZL105 1ST 

7.75 MlUllSl 
BOKRVBU. 1ST PIS 

i-K .15/ 2/1982 
I*C.C. 1BT 

9-50 1/ 6/1988 

Iff XBBST2XX5 PIP COUP 
.-*•73. . 13/ 6/1947 


99 3/8 

7.75 

8.10 

8.B5 

102.00 

50 

1.50 

rc. re 

399 105 303 80S 920 


4.62 

8.16 


19:9 DM973 

IX 

935 941 975 

X 108 7/S 

8-21 

7.92 

8-34 

4.68 

30 

!.;i 

PR to 

436 105 805 870 933 


6.01 

7.70 


100-25 

19:9 BP1974 

LX 

9*1 973 

101 1/2 

5-04 

9.3* 

f.Sl 

9.16 

30 

.15 

pc re 

688 35 105 305 324 

\ 

4-53 

9.33 


100-00 

IKl DP! 976 

LX 

«J5 ?*0 9(2 950 

72 

•■59 

14.68 12.15 

101 .00 

» 

1.00 

PR R 

960 473 

(85 270 800 913 941 


5.10 17-45 


19/9 DM914 

LX 

973 

99 5/8 

8-4* 

IJO 

8-28 

102.00 

M 

.90 

PC SB 

318 10! 970 934 97S 


4-97 

8-34 


2979 bp: 9 7* 

LM 

va 52 1/2 

2.31 10.00 

7 -03 


SO 


rc a 

80S 





101.09 

1979 


LX 

33 92 3/4 

2.51 

5*87 

7-01 

161.00 

30 


pc a 

800 973 





1978 


XX 

98 1/8 

3.72 

B-M 

841 

8-06 

30 


pc re 

(88 105 IIS 530 80S 





1DOJO 

1982 


u 

870 933 973 

101 3/4 

(.01 

8.71 

9-09 




pc re 

488 105 520 80S 870 








LZ 

933 975 

108 1/8 

2.04 

8.56 

9.55 




k a 

488 105 320 80S 933 








XX . 

975 

101 1/4 

t.01 

••*4 

8.69 

7.13 

50 

1.00 

?c re 

456 205 803 935 941 


4.85 

8.30 


100-25 

1979 DM974 

re 

960 975 

93 1/2 

9-*2 

8.78 

9.29 


M 

1.00 

EP B 

399 US 420 960 975 


5*19 

9*28 

102.00 

2978 DP1977 

IX 

. 99 

2.72 

6-51 

6.15 


*> 

.05 

pc re 

300 105 520 90S 170 

8 

1.(6 

6.15- 


100.25 

2978 

1969 

re 

935 941 960 975 


81 


10.01 U. 36 - 1247 - 
7.41 1.4^13 ' .102-00 

97 3/4 9.04 


10 .60 
1978 BP197* 
30 1.35 

1*82 PF1918 


230 800 


1978* IC IWOmitS TO COUP 
100.00 9.0Q U/ A/ 1983 


98 9/8 6.88 


9.17 9.13 9.35 

100-op 


30 

1983 


re B 5 11 >0 35 105 230 
LX MS 520 927 935 

9 W 960 973 

PC SO 311 20 35 103 TIB 


LX 


1965 

100.00 

1966 
97.50 
196T 

- 99-00 
1971 
lffO.OO 
197.0 
100.00 
mi - 
100100 


1977* 

100.00 


1972 

99-SO 

1976- 

100.00 

1978* 

10040 


SR MknSTO 0/8 

5.00 1/ 4/ IMS 
rn mn>4n- n. rente 

6-00 1/ 3/1986 

1ST S1ASBA8D ELBCISIC 

6.00 13/ 3/1967 
XM siasoabd menu 

8.25 1/2/1986 

nr 8XAXM2S TLCCXAIC 

9.00 1/ A/1985 
IK STASDAXB ELECTS! C 

940 1/10/1986 

x.v. orams to 

•8.75 1/ 7/1587 

na ffmjiigs o/s 

B.n 13/ 5/1982 
nr BTHirtts o/s 

9-00 .15/12/1983 
1LSL TOAKE 

9.73 li 4/1988 


79 1/8 
97 5/8 


97 3/4 
102 1/2 
103 
103 

95 3/4 
99 3/8 
*9 1/2 

98 3/4 


7.84 
6.28 
7-75 

4- 06 

8.96 
A.7B 
7-68 
4.49 

6.84 
4.32 
8.34 

5- 43 
9.09 
5-02 

3.96 
5.21 
5.55 
4.83 
9-34 


8.92 
9-71 
6. 49' 
6-79 
6 .34 
6.57 
7.79 
7.56 
auo 
8.J5 

a. a? 
8.28 
9.46 
9-B6 
8.44 
B-A9 
9.10 
9.12 
9.94 


Ml • 

100.00 

144 

101.25 

‘ M 101.73 
145' 

203-00 
8-74 7.31 

102-00 
8.74-7.23 
101.00 
9.14 10.38 
101.50 

J.M 

103.00 
9.05 ' 9-39 
■ -101.00 


30 .75 

1978 BP1 977 
M .41 
1978 BP1971 
M 8.26 
1978 00197! 
30 2.25 

1978 OP1978 

36 3-23 

1979 fir 1972 

30 1.30 

1979 DFI974 
45C 2. AS 

1982 901 978 
43 1.75 

-1978 D01973 


105 5M 9)1 935 
940 960 975 
451 105 800 SOS 


CTLX 


PC fit 

mi 

« *T 327 105 520 80S 935 
941 9»0 973 
327 105 520 *05 135 
941 960 975 
BP 80 327 105 520 ROS 935 
LX 94] 940 975 


*T HE 
MZUS 


BP B 327 103 520 405 935 
XUX 9*1 960 973 


SID 327 320 803 933 941 
U 960 975 

PC B 315 *•• 

LB 


A5C 2.00 
IMl Of 1977 


947 10.33 
' 101.50 


30 4.71 

IMS 071979 


1971 rmmr.T — n nr uij. tn. loj 7.88 
100.00 9.50 15/ 4/1986 4.90 

1976 KACKTI-UT BBLIIZ PIS 101 1/8 3-30 
59-23 9.00 15/ 9/ 1981 

- 1975 M3HJKBEU. DEOGLA5 0/B 101 1/2 S.46 9-19 5J1 

99-Cp 9.23 .13/11/1981 


7.97 . 8.25 9.16 

7.73 .100.25 

6 .57 S.9Q - 


30 1.60 

1979 DP1976 


LX 


110.00 1980 


IX 


1975. MMIOTr e/I 
99.50 9-73 15/ 6/1982 


102 3/8 
101 1/8 
97 1/4 


*.06 

3.08 

a.92 


103 


1975 ISLES 0/5 CAP. , 

100.00 9-23 1 l 5/1980 

1*68 nan. on. or ns 
98-30 7.00 15/ 8/1984 I 

1970 WKSACTO HT 
98-50 • 8-75- 15/ 5/I9B5 

1967 E4BX9C0 IK Pit 
96-50 6.30 1/10/1382 

urn* wans ike cow 
99.50 8. DO 1/10/1984 

1972 BUOI AHX XOCSKOL 0/8 
.09.9?.-. »-W 1/5/1979 

1972 sam Axnwanm. 0/8 99 
TO* JO 1J3 U 3/19877 - 

- 1969 accioxsxa O/s CAT. . *7 1/2 5.70 

'98.00 • ' -7JT. "U 3/1994 - 3.51 


8.94 

8.74 

8J7 




4.00 

1980 


99 5/8 
94 1/8 
99 1/4 


9.21 
5.49 
6.96 
A. 42 

4.34 
2.48 

8.34 

SJ* 

.92 


7.59 

7.77 

8.17 

7-93 

6-39 

6.66 

9.23 

9-43 

8.61 


9,15 ■ 8.44 
,-.100.50 

7J3. 

•102.50 
8.50 <5 - 
102-75 

6-52 ZUN30 
8.50 . JRM 
MOJO 

7.81 

HAM 


30 

1979 


30C 

1978 

M 


2.00 

1*72 


1.40 


8.92 

5-94 


1.41 

*147 

8415 

8-32 


8.33 Ml 
-> - 103,00 
7-6* . 

. ^“*59 


1978 DPI97J 
30 1 .50 

1978 DM970 
45 10.00 

1M2 1*82 
.» 7.50 

-1*78 1977 

<70 


50 

DIM B1976 

Fmj ;*s 147» 
^78.sei9>3 


PC ZB 315 105 520 912 931 

LB *41 960 975 

PC XO 339 *** 

LB 

PC B 412 70 35 105 21* 

LX 425 5» 330 910 

9!3 940 960 975 
PC B 458 M5 933 941 960 

LX 973 

PC B7 218 105 320 9 35 941 

946 940 975 
456 35 105 305 520 
*70 935 940 941 
960 975 

PC TO 408 105 923 975 
LX 

re. 70 517 103 520 805 935 

IX 960 975 

PC W 339 105 530 870 939 

LB 941 940 9*5 975 

K ZB 399 105 870 941 940 

IX *75 

PS ST 443 105 805 *70 935 

LUX - . 9*1 960 975 

PC 0 599 *** . 

LX 

PG B 327 105 3dS 520 715 

U 805 8-70 935 941 

9*0 975 -. 
PC»»7—* 

IX . . . . . 

K B 447 IDS 935 975 

- ■ 


23.00 

7.50 

l«64 

98-00 

PHILIPS PR9KJ1M 7 ST 
o.CrO 15/ 1/1161 3 

5E 3/4 

3.61 

1.38 

6.63 

7.09 

647 

35.00 

12.50 

3947 

99.00 

men 4 uau ire , 
6.50 15/ 9, '1982 

98 7/1 

4.30 

£.10 

6.P0 

7.03 

6.57 

160.00 
ire. os 

1977* U.WIHUS onrse/ut 
100.00 7.50 18/11/1162 

97 2/4 

4J7 

£.47 

8.24 

1-75 

7.71 

29.00 

£3.00 

1972 

98.00 

UUIM PS* US* (V* TO 

7.50 15/ 2/1987 

97 

*-?J 

3.16 

7.98 

8.12 

7.73 

£3.00 

1976 

99,00 

tuoxac 4 SITES 

9-30 15/ 3/1911 

101 5/8 

2.71 

8-7) 

9-39 

30.00 

17.50 

1970 

99.75 

UCBU05CK->0JFU- 
8.75 15/12/1985 

102 1/8 

7.53 

4.46 

*.34 

8.14- 

8.57 

20-00 

1979- 

99,00 

SAffXA PE TPT PIP 

9.75 1/1L*I°60 

102 1/2 

=.34 

8.48 

9.51 

30.00 

£7JD 

19J6 

100,50 

5*81* PE 1ST PIS 

9.50 15/ 7/1986 

101 1/2 

s.n 

7.12 

9.22 

9.19 

9J* 

20.00 
16 .00 

1971 

98.50 

SCOTT PIPES 0/8 . 

8.73 1/ 7/1986 

102 3/J 

8.09 

4.91 

8.33 

1.15 

S-55 

30.00 

1V7 

100.CS 

SIttMS !KTL arcs 

8.’1 1/ 4' 1912 

100 L'l 

3.14 

6-69 

1.74 

33.00 

32.10 

1973 

100.00 

ST4WW5P OIL 0T 1 SOLAS* 
8.JJ5 1/ 12/ l'*8B 

100 S'l 

in. si 

8*94 

9.17 

s.:fc 

8-32 

30.00 
• 27.73 

1973 

97.50 

SI*!V*20 on or T5D1A5X 
1.50 15/ f/1588 

101 1/4 10.21 
7.51 

8.71 

1.27 

1.(0 

21-00 

25-00 

1977 

99-50 

sam.i7LUO to ire 

8.73 1/ 9/1987 

97 5/1 

0.01 

4.34 

*.!3 

*-46 

8-96 

in. oo 
18.08 

1978 

99.00 

mSSTXJUB PTS TFT 

9-75 15/ 2/1911 

102 1/4 

4.72 

3.10 

9-12 

l.ll 

JJ4 

1S.00 

12.60 

1972 

98.00 

■mnt 0/1 C*f 
. 8.00 1/ 3/1987 

96 3/1 

1.75 

5-97 

l.«0 

8.80 

8 JO 

37.30 

37.50 

1168 

100.00 

mxDm vr « 17( 1/2 

6.30 1/10/ 1983 

3.34 

3.54 


J.72 

37.50 

37.50 

1968 

100.00 

is. sores 1ST XB 

6.50 1/10/1183 

95 

J.34 

3.34 

8.16 

9-00 

».» 

20.00 

1971 

100.00 

tntPtco m 

7-50 1/11/1)79 

99 1/8 

1.(2 

8.12- 

7*57. 

30.00 

29-00 

1*72 

98.00 

inorEco ire . 

7.75 1/11/1917 

94 3/4 

1.62 

».»? 

1.57 

1.12 

8.18 

100.00 

1977 

98.50 

7DffifC0 1>TL 

7.75 15/ 3/1987 

*2 3/4 

8.96 

£.96 

8.36 

30.00 

30.00 

1973 

100.23 

TEXT* 05 TXT 

7.73 7/10/1187 

95 5/8 

4-34 

£.46 

t.>3 

8.65 

8.10 

30-00 

17.00 

1*71 

100.00 

YUKAXESXC* 0/8 TIC 

8 JO 1/12/1986 

94 5/8 

8.51 

3.39 

8.55 

8.57 

8.53 

40.00 

22-00 

19*8 

II .30 

ntlSKUI CULP OIL 

7.00 1/11/1980 

41 3/4 

£.4} 

l.ll 

7.58 

7-74 

7-09 

30.00 

17-00 

196* 

97.00 

2SA5EOCEAS 6017 DEL 

7.00 1/ 3/1981 

91 VI 

2.75 

2.26 

7-*0 

7.75 

7-1 1 

40.00 

33.70 

1971 

100.00 

SitSOClU ELP DU, 

7.50 U 1/1187 

46 1/8 

8.59 

b.*S 

8.12 

8.30 

7 JS 

30.00 

20.00 

1969 

98.00 

S1SK1CXA1 0017 OIL 

8.00 2/11/1984 

100 

6.51 

4.17 

7.98 

7.99 

8.00 

30.00 

24.60 

1971 

97.50 

■mnKFa HJU OIL 

8.00 1/ 3/IMS 

44 V4 

7.73 

4-7* 

8.09 

8.05 

l-Ol 

20.00 

14.30 

1970 

1110.00 

7X*lSOCE4fi G0L7 OIL 

9 JO 15/10/1915 

103 1/8 

7.38 

4.48 

8.(0 

8*12 

8-73 

20.00 

12.75 

1968 

99-00 

zra o/s c*f 

7.23 1/11/1583 

48 

5.(2 

3.07 

7.70 

8.03 

7M 

20.00 

17.00 

1971 

99-00 

T2HO/8 TO 

8.73 15/10/1986 

Ul 1/4 

8.38 

3.24 

8.52 

8.(1 

844 

10.0O 

7.65 

19S7 
99 JO 

TS-inm mioT*L 

6.23 U 4/1932 • 

91 VI 

3.B4 

2.10 

I.6S 

7-22 

645 

20.00 

1972 

100-00 

onos oil pdi 

7.00 1/ 2/1979 

98 5/8 

.(• 

9.10 

7.10 

30.00 

27.00 

1972 

100.00 

macs on to 

7.50 1/ 2/1917 

97 1/8 

S.C8 

3.31 

7.98 

8-18 

7.7* 

15.00 

7.02 

1970 

ff-00 

BBT TED KEECBArrS O/S 
*.00 U 3/19*2 

83 

3.7$ 16.(1 10J9 
2**2 *>.** 

30.00 

1*72 

100.50 

oi ire rif 

7.50 15/ 3/1979 

•1 7/8 


1-86 

7J9 

20.00 

19.20 

1972 

100.50 

reuiirem 

6-00 15/ 3/1987 

97 3/8 

8.79 

6.00 

8.(3 

1-57 

8.22 

20.00 

6.23 

1945 

97-75 

T.I. CTACX O’* 

3.75 15/11/1910 f 

98 Ul 

=.6« 

1.4( 

6.52 

6.96 

5.M 

30.00 

1*77* OIL TPS FIDOS O’lTAC TO 
100.00 8.30 1/ 7/ IMS 

96 7/8 

7.09 

9.11 

8.77 


101.00 

:?:i 

S?J?rj 

LX 



960 

975 



50.00 

1*6? 

*.3? 

rn 

1.M 

PC 

B 

418 

!« 

870 

sri 

*1 

J5.no 

J£J 0 

lOJ.tu 

:?:9 

PPI4-5 

LX 



9*3 

975 



73-00 

:i:i 


“T 

■15 

rc 

nr 

*56 

5$ 

!C5 

3&S 

510 

39.30 

100-30 

ioo. 3: z 

ȣ0 

0*1576 

LX 

735 


940 

9(1 

300.00 

»n 







950 

960 

975 



130.00 

8.:* 

30 


PC 

K 

456 

103 

941 

975 


60.00 

1971 

ICO JO 

i*:i 


LX 







30.79 

100.00 

100.25 

M 

1.10 

PC 

28 

437 

35 

105 

395 

570 

500.00 

1977* 

117? 


LX 



71J 

915 

M0 

941 

99*00 

S.-2 

n 

.40 

PC 

St 

4(7 

950 

105 

9.0 

805 

*70 

935 

9-5 

9(1 

40.00 

1962 

101. c? 

V 5 

»PI*'5 

LZ 


975 




‘B-8S 

IOO JO 


’.j 

1.25 

pc. 

B 

411 

105 

5M 

SOS 

93S 

2T.-0 

1956 

100.50 

1*TS 

e*w?i 

R 


941 

9I.S 

975 


13*19 

IOC >30 


■•0 

?.$3 

P'7 

sr 

436 

105 

5M 

8.15 

870 

30-00 

1967 

100.50 

i*;i 

d?:*;j 

LIFT 


815 

94L 

960 

975 

10-93 

98-75 



37.00 

1978 

PC 

u 

IS 

163 

MM 




25.09 

11.35 

1967 

96.75 



7.00 

PC 

sr 

437 

35 

105 

305 

S» 

30.00 

1966 

100.25 

25E9 

PfiJl.- 

IX 


735 

91' 

9*0 

942 

9-4J 

98*50 







947 

950 

960 

975 

30.00 

1972 

*.71 

•0 


PC 

sr 

485 

!05 

270 

5 JO 

E70 

27.00 

98.25 

190.10. 

:i8o 


LX 



935 

960 

975 



is 

I.50 

*0 

IB 

485 

105 

270 

M0 

935 



JOB. R0 

mo 

2P197J 

LX 



9(1 

960 

975 




*.■-0 

M 


r s 

IB 

397 

105 

935 

960 

963 

75.00 

197 S 

lQ9.:a 

:>:* 


LX 


975 





99-00 


crnssLiio AlCOTi rat 
9. P6 U 4/1992 
ECA5DILAVIA5 AHLX58S 
8.00 1 5/ 6/1985 

SHELL TBT Xl9 

6.50 WlliWi 

an? 1 L TST FTB 

7.J0 15/ 1/1987 

SUM, nr TO, , V 
7.73 1SJ 3/1987 

SBUIRTS 

8-90 1/12/1986 

SHILL EH nn , 

а . 25 1/ 5/1950 
cm znoanut mpb-to 

.5.M 1/ 3/1954 S 

SAsisAUEff 73 BBS 

б. 50 31/10/1985 

TXiSStlPlSt FIX SBCS 

6.75 31/ 1/1982 

T84SSALP3X PIS TOCS 
6.75 39/ 4/1983 

2USE1XP1SE T» TOCS 
6.75 31/ 7/1985 

UASS-AOSIlUi GASLTO 
7.50 15/ 1/1988 


89 1/8 !2-M 
5.10 
S3 7/8 A -Cl 
X-01 

95 >•;; 

5-9i 

96 1/4 7.75 

4-91 

100 1/8 3.*A 
2.84 
*5 7/8 7.0L 
5.2J 
98 1/8 1-47 
1.00 

96 1/2 8.63 
£.44 

95 1/2 8.19 


9.51 

9.93 
7.74 
8.84 
9J9 
9-38 
9-18 
9 -48 

8.94 
8.«3 
8.81 
9-03 
7.86 
8 . 1 ) 
8.07 
8.21 
8.49 


99 5/8 8.51 
£.?l 

95 3/4 1M8 


8.05 

8.07 

8.84 


97 


3*7S 
2.24 

97 1/4 7.42 

4.00 

98 7/8 3.67 
2.18 


98 1/2 4.92 
2.91 


97 5/8 7.17 
3.63 

89 1/8 9.63 

6.68 


6.52 

7.10 

6.98 

7.31 

7-09 

7.33 

7.12 

7-33 

7-18 

7.5Z 

9.74 

9.84 


8.98 

1D2.S0 

8.78 

101.00 

8.68 

100.50 

8.83 

101.00 

8.99 8.09 

103.00 

8.36 

130.25 

6.62 

100.00 

7.77 

100.50 

8.12 

100.00 

8.03 S.fA 

100-50 

8*62 9.17 

101 JO 

5.75 

101.00 

8.68 

101.75 

6-83 

101.80 

(.85 

102.00 

6.91 

101O0 

8.42 

102.00 


cs DouAas-sapiAsinoBAL 


30 

8.00 

PS ST 

44? 

8C3 1 

1978 

1978 

IS 



30 

6.00 

P= KY 

447 

800 ! 

1978 

1978 

LX 



30 

1.00 

rc hj 

411 

105 

B78 : 

07:974 

IX 


975 

30 

2-15 

pc TB 

411 

us 

1978 

1974 

snx 



30 

.75 

rc at 

(U 

105 

1990 

1975 

LX 


9(0 

30 

1.20 

PC HJ 

411 

105 

1979 

197S 

IS 


960 

30 

1.00 

k m 

411 

105 

19B0 

1971 

u 



30 

1.W 

SP BI 

372 

103 

1380' 

DP1973 

LX 


9A1 

90 

7.00 

PC HI 

346 

105 

1978 

W1973 

Vasa 

941 

90 

1.60 

PC BI 

316 

•M 

19S0 

DM976 

IS 




PC Bt 

399 

230 

1983 


BQ 



90 

3.10 

rc BT 

456 

Ht 

1979 

DM975 

LK 



arc 

25.00 

PC TS 

165 

AM 

1926 

771979 

IS 



30 

2.23 

K HT 


10 

1*78 

1?»5 

re 


975 

9« 

1.60 

LA Bt 

346 

:os 

1976 

1969 

LSL5AS 


975 

90C 

2.72 

TA ED 

3(6 

105 

1379 

1972 

4SL5LX 


973 

90C 

2.27 

TA EO 

3(6 

IDS 

1979 

1973 

AHJOX 

973 

90C 

1.17 

ta nt 

3*6 

105 

1979 

19*9 

ULXAS 

975 

90 

1.00 

TA m 

345 

105 

1978 

1976 

IX 

409 





975 


i 219 941 
I 320 941 
I 5» 941 
I 520 941 
ISM 941 


310 4 OS 
520 540 


ASZAS DCTSOPSBT MIC D 
8.00 15/ A/1980 8 


10.'. JO 


’1 l.jo 
:>•: ap:srj 


PC 50 
IX 


6. A? 
IOC -25 
1.71- 
lsc.cn 


71 .83 

19’9 fir:* 74 


n JO 


rc a 


397 35 
93S 
965 
495 105 

9Li 

418 **» 


105 305 510 
*43 441 SsO 

975 

;-o fid 93S 
560 >75 


100.09 


73.00 


• IT 


100.):: 

7.1* 

IN.;:; 


.*3 

1V-Q MISTI 

?n .TS 

l‘H TM9T5 
i-T ;.rc 
»si ?u»:3 


Sf 80 
LX 


456 «• 


EC 456 *** 


B.*I 
1O0 .30 


a 2.0c 
1*8 L 19-7 
:-o .ao 
:«!3 PP19T5 


10 ?.;o 
:va 3*19:1 
?o 7.10 
:?:» d?::;9 


pc S7 359 20 20; ?!8 A2J 

LX 520 91 C 055 941 

9s* "*!• *75 

PC K 359 !-*3 : * 9«1 969 

LX 9*S 573 

PC nr 447 25 ICS 305 J20 
LX 735 9 35 9-0 941 

950 960 975 
PC fit 425 800 975 
LX 

PC Vp 425 BOO. 915 


a .so 

.55 

7-50 

x.:o 
6.10 
1.80 
rn.co 
2C-.53 
18 .00 
18 -a 
20.00 
10-00 
20-03 


50.09 

50.60 


-A 


101.50 


If "3 

10 l.m 
I'-AO 09X977 


PC B 361 105 135 570 835 
LX 870 935 960 975 
PC B 361 *•* 


20.00 

It-PO 

30.00 

2E-00 


1976 

99.75 

1976 

59.75 
1961 

59 -a 

1*65 

95.25 
1566 
98*00 

1975 
58*75 
1*77* 

100-00 

1967 

96-00 

1977 
100.09 

1977 

99*59 

1973 

99.50 

1976 

99.25 


ASXAV DEOttOTHBE BASK 
8 JO 15/ 1/1981 ! 

ASIA! DETOOdZST BA5X 
8.625 U 8/1986 I 

coDscTL at mope 

5.75 31/ 3/19)9 I 

mi pnen - or FCK5FE 

5.75 5/ 5/1989 


CDD5CTL Iff fiBOPI 
6.75 30/ 6/1978 


COOBCEL OP SD90PE 

9-25 15/ 6/1984 


BSXAKKC 

8.75 

BBOPEfA 

6.50 

BBOFSO. 

7*50 
nntorwA 
7 JO 

X3BDFXKA 

7J0 

sunn 
s JO 


90/12/1992 
It 4/1982 
15/ 4/1983 
15 l 3/1984 
15 1 2/1988 
15/ 2/1983 


100 

100 

99 3/8 

98 7/B 

96 7/8 

99 5/8 

100 5/8 
94 1/2 

97 1/2 
94 1/2 

94 1/4 

95 J/8 
99 3/4 


1.88 1.67 
S.63 8.67 


8.68 

8.68 


VP fit 411 32 

KT 927 


8.17 8 <92 8.87 


JA 7<2S 


1.93 7.54 
I.*3 8.19 
.09 11.17 


5.99 

S.94 

6.78 


•55 

1*70 

.75 

1971 
3.80 

1972 


VP XT 441 SI* 
ST 927 

SF ST 411 12 
S? 927 

an 35 105 

MIX 

cl or as 105 


33 (0 809 
931 939 975 
33 60 SOS 
931 939 975 
33 £0 80S 
931 939 979 
UO 


no 


cl nr as 105. 
a xix 


UO 


6.04 9-11 

3.05 9-00 
14.59 9-A5 
10.09 9-62 
3.94 7*26 
2.34 7-72 
4.88 8.93 


9.26 

6.67 

7.94 


5.63 8-82 

5.13 8.94 

9.72 8-23 
5.66 8-61 

4.72 8J5 

4.14 B.37 


7.96 

7.88 


?n 


1752 

■* 1.2H 
X ?T3 ap:*:* 
IT 1 -Ml 
mi ppiirs 
V i .BO 
:?'3 a? 1*39 


pc R7 456 •** 
LS 

PC re 45A **• 


IC BI 95 105 960 979 


40.00 
AO.OO 

25.00 
23.75 

50.00 


i97p* naorctA 
100-00 8.50 

197A SBOnV-A 
95-50 8.5b 

1475 HJOTOA 
100. CO 9-00 


15/ 1/19B8 
15/ 1/1969 
15/ 3/19*2 


96 1/2 9.63 

8.33 

97 1/2 10.63 

6.26 

101 3.79 


9.0S 
9.11 
8. PS 
9.03 
8.87 


8.81 


8.72 


9.11 


p« re 
re 


71 2.00 

100.00 :s:s E?1970 

10 2. JO 

100.25 1990 rf:976 
l.ll 90 ?.09 

lDO.a 1979 DP197I 
(.61 30 2.40 

100-25 1979 DP 19 76 
7.5* ?o i:m> 
100.25 I960 BPL97L 
20 2.00 

191.00 !»*J 5*1969 
I.AO JO 1.00 

101.00 !•-* D?i?T5 

19 .«S 

101.125 1976 1972 

20 

100.00 If -8 


*c re 

re 


456 10 1C5 570 805 
879 935 94l 9o0 
975 

456 20 103 529 805 
935 941 950 9 75 

456 **• 


35.00 
2-80 

25.00 
6.85 


pc a 
re 

pc re 

LT 

ro re 
ix 

pc r 
IX 

po re 
ix 

pc a 


456 105 520 925 9(1 
975 

436*** 


456 ZOS 870 941 973 


r a 

LX 


100-25 


:n 2.00 
» fs 


IW-IO 


ico.00 


?•; ’.:i 
:.*!3 ;3 
70 

1978 


r. TO 
LX 

PC zu 
LX 

rc a 

LX 


485 IDS 370 520 935 
9*1 9*0 975 
485 105 270 935 911 
9T5 

327 JT5 520 805 935 
9*J 9*0 475 
2*9 105 ?CS «2T T?0 
005 I'D *30 »:s 
9-1 9t0 975 
359 


30.00 
11.03 
£5.63 

2.20 

15.00 
9.00 

30.00 
11.90 
£5.00 
It. 60 

20.00 
13-75 

sn.oo 

29.00 

50.00 


1958 

97.00 

M6S 

99-00 

196* 

99 JO 

1960 

9 7- Off 

1966 

99.50 

19(6 

93 JO 


8CECPOX COAL 8 ETTEL 
5.00 1/ 7/1978 

B7U1TCAK COALS 5703. 

5.25 15/ 4/1962 

zmopZAP coal s rrert. 

5.25 15/ 11/ 1*64 

ZSUI?CAS COAL 6 STEEL 
S.37 5 13/10/1960 
mnrpj COAL 6 PTE CL 
6.50 15/ 6/1986 

BB0FEA5 COAL S mZL 
6.50 1/12/1986 


99 5/8 .09 9.60 


TOM MAS COAL S STEEL 
6.50 1/ 3/1987 


30.03 


*47 SCO 960 975 


50. -TO 
A9.CC 


1967 

90 JO 

196? ecbofolk coal s steel 

98.50 4.623 1/10/1967 

1973 EUE0PEA.C COAL 6 5TTTL 

99.50 7.03 15/ 1/1963 

1977 ECIOPtA-: Ct A1 £ STEEL 
99.00 7.25 1 5/ 2/1902 

19T| ZEICIPU.-; P07L 6 STEEL 
99.00 7.625 S.V 5/1®:; 

!«:: SC9QPEA.E COAL 6 STrT. 

loo.ro 7.75 1/ 2/ 1®A9 


94 3/4 2.68 

8 £.13 

93 7/8 &.*« 

3.16 

96 S/8 2.38 
S 2.43 

95 1/4 8.04 

4.P4 

96 1/8 8.51 

A. 42 

94 1/2 8.75 

4.62 
98 1/2 9.34 
4.75 
90 1/8 9.63 
6.47 

95 1/2 3.72 


6- 93 
7.81 
6.43 
7.30 

7.06 
£.08 
7.30 
7.92 
7.11 

7- 55 
1.37 
7.96 
7.14 
7J2 
8. S3 

9.07 
B.70 


5J2 

5J9 


9.83 

1D2.00 

60 

1960 

2.85 

297S 



1.80 

1983 



2.50 

1973 

101.00 

30 


ui.no 

30 25-00 

1981 3P1983 

102.00 

30 

1981 

1.00 

1977 

9.18 

101.00 

30 

-I960 

1.00 

1977 

9.33 

101.00 

30 

19B5 

I. DO 
1981 

9.81 

102.00 

30 

1982 

1.25 

1978 

8.76 

100.00 

3P 

1981 


9.73 

100.00 

30 2.60 

197B DP196L 

100.23 

30 1-65 

1578 DP 1568 

lflDJO 

45C 2.00 

1978 Sm70 


5.(4 


30 


1.65 


290.125 137B OMM6 
6.82 280 1.00 
100.50 1979 19<2 

6.76 *50 1.35 

1014)0 1978 1972 

6.88 4 SC 1.70 

101.00 1979 1973 


(47 


101.00 


7.77 


102.50 


7*59 


A SC 1.35 
1978 1973 

SOY 1.00 

1981 nine 


BP B 224 105 
1 r 320 

SP HJ J(3 305 
LX 

BP Hi 485 I'M 
•jrtAKFf 975 
SP EH 4(8 5 
LX 

KP ztf 485 *** 
LX 

BP or 485 105 
IX 

SPOT 485 105 
LZ 930 

975 

*PB 485 <**• 
LX 

KP re 485 105 
LX 973 

KP BY 485 32 
HT 805 

9,5 

KP XT 327 IDS 
CYBRLX 9,'5 
KP SY 327 105 
KEBPLX 9(1 
KP TO 359 105 
12X338 975 

» BY 327 105 
STEELE 941 

vp m 196 105 
LOW & 425 

VP re IB8 103 

ija-ng. 423 

VP nr 186 105 
BZAUUI 423 

vp re 359 105 

425 


110 115 511 


271/520 805 
927 


270 520 979 


270 305 520 
935 9(7 960 


115 279 52ft 


33 60 270 
927 931 939 


425 520 941 


(05 425 320 

975 

(05 (25 Ml 


BP nr 559 105 
LX 


403 425 520. 

975 

AOS 40* 439 
941 979 
405 (09 (15 
941 975 
405 409 UJ 
941 973 
405 A09 41S 
941 975 
405 425 MI 


95 


5.96 8.73 8-03 


113 1/4 10.6B 
5.73 


6.02 

5J2 


6.84 <0 267 4.00 

101.50 13J9DP1977 


w re 359 «• 

LX 

VP re 219 105 
5? re 186 405 

UMT. 


250 934 
409 413 42S 


30 .AO 

101 .CO 1979 HPI9.-7 
yi i-:s 

101.00 1978 IS *9 
1.66 X 
101J0 1MI 


ps re 

u 

rc nr 

re 

rc re 

LX 


447 IO* 105 1T0 •-••5 
ftn 9il 9.1 SoO 
97S 

A47 


500 105 5in 835 $(1 
9®0 973 

418 


30-00 


ETtOrt'-T COAL 4 ST«TL 98 5/8 

3.38 

8.33 

7.98 




vp ar 

93 OB 

P9.S1 

7. M 5 

1:/ !0/i>! I 







LX 


30-00 


HFJ7TCAT. COAL 6 CTtB. 97 3/4 

3.51 

8.51 

8.18 




VP B 

219 105 3» 934 


99 JO 

8.00 

1/12/1983 







XX 


£'.00 

1177* STIOPLW COAL 6 STEEL P 97 1/8 

8.25 

8J9 

B.26 

U1.25 

CD 

3.00 

VP B 

117 105 90 

r.co 

100.00 

5.9CI 

1/ 9.' 1956 

3.94 

8. 89 


1960 

1978 

IX 

75.00 

1*76 

ETJOPrA.1 COAL 6 STfEf. 97 1/4 

6.46 

8-83 

8.53 

8.96 

30 


VP XY 

441 20 32 33 39 


99 J6 

8.125 

15/11/1984 X 




lop.oo 

19B8 


as 

60 80S 527 931 
939 940 975 

859 105 405 425 52® 

20.00 

1*74 

OTPPEW COAL 6 'TEEL 99 3/4 

.79 

8.51 

8.27 




vp v 

99.00 

8.25 

15/ A/J9/9 







IX 

MS 


.,-■1 : 


A, .--“l 

; -. 1 : -i ] 


ThBBB 1— OdiflMPBa Nbbs b«M, tUUMnnw «W«n 




XBWXftSTS 



DEVELOPMENT finance corporation 

; j OF NEW ZEALAND 

<LrEA3^TOBTCOHPO*XIIO«WHOLB¥-OiriaD»THrW2*LIJjn9 


ITS $20,000,000 8i% NOTES DUE 1983 
US $20,000,000 8i% NOTES DUE 1985 


CpMBEEKZS AHK ARTTENQESKI.LSCHAFT 

bszoKBA^ uu£m> 


CITICORP INTERNATIONAL GROUP 

XJDSERi PEABODY INTERNATIONAL LIMITED 
B. Q. WARBURG Jc CO. LTD. 


nnx Bgn nrr . Mro x.Y. 

y .wlt' -mM^l wnrtU WltlABA 


inAPAemeoiPiTU oowounov 




niw untoonAno :.:. >! ■■ . *ai*ca.x>*lxju 

»a«i of limrffi nwnfcxxomn 


klTAlIANA 


MBCO XII SOMA 


liBK XUUVS SABt 2NTKKMATIOMLX. 
XatanktM 


pff Xgm nB m»iinBA.W OMXE 


•L' * -JJaHtm £ 

KAXTOilMiB la • JBAMttin! VXMOn* 

umoi vnia ^ 1 1 V- ' ; 'N Mwowowp* * co* 


na am or tokyo (Holland) n.t. 

u»ao* nir r " fJ » ?.* M ™ ' *-*. BAmin nAHCAB »cr commrcz HtTmn* 

BANaUK lirreZRATIONAU A. LD3EEBCSOTTBG U. 


OadM 


a * acsp 


.«“^S %&**;■ . 

-eOMBM gSKteJtf a^W' T : 


XANaVE LOUIS-DEFT FUX 

BAtfQTn »« .mu w n«« MtMA6 -BAVaiH DS LUIOOB nZOPIDMI 

' laaxuNK - aguim hanpxu-oxp kea xalpu e tbh bank 

BoacnRCoiaicNAiUM 

mqtmiiiAiAincooixaimusa 


ntOAM4«CCMPO*Aa« 

I IHIIA I X . 


C OW OrMKK 

unned 


1 j: *atx«C i 3atB» : dmnubuui ocspoxaibw 
. A1008T fljwK* ^ynaaaga. 


■CTBBOAL IABK OlWIBm«BUft 
* mill* 

min e n nr 

XiTOKlUU*: ... . 

>' p w m BPg c amrn VMEK . 

•' mBHame koo. 


IT 0 


3UXWA W8 0PI N.T. 


aB iw n w 

Am«i|i— lininn 


fixonen cnozzxTuix 
Ot UT S em KoaOKOHALBAMC. 


HTIOMnnilABt SopJA, 
OrtftpdalBVHliMTBiUUm 


iwca, ATjjaoB, gram a go. 


tA33l TO iAWM OWUMCW WAHXA18K AQ 


QO^YfA^wscgyilfTlWlYATIPItAtiwliy. 




CBMCFANT 

*• •’ •/' '■ 3CONNUM 


. --'b h a e —UMP—H* 
MunApBaiwini • 


aeLumB, t co. 
litsdnd 


XUINTBKATmiAL 
Unit* a 


xuonroBX, Mssox 



reaeuxomna 


gniaiBeawwaaaw^**?® . -* 


jiiiiiiit I8iiauf" inr 


me0m CTS Wjgp’n rrVVWA'glOWAt 

mraAtiiw K Bn4 aaw«A!8W 
im (OBBonaai 


I KAlWWf 4T. VAlmC wnnramua 

IIiiiMU 


nmxn 68LQBI 1 1 A II OO-j (XUIDTA) LlTB. 







somcmaiAiaEjui 




W2? 


. UrettM , . . . 
„„ l l , t— *T c «xm»A »« 4 l» 

yu i wc wg' * 


XAZKZT, HAItma Xtrl£A 3 t It CO. 

tonwymiil 

flnzxAxiuiAiimxlA. 



T8V>w rBatK Mg^a oNAX.ffoaoreo 


UkTim 


« . ' ; '■r -. 1-S- : 


w Whether long j medium „ 
or syndicated, NCB can 
design a loan package to 
precisely fit your needs” 


“Their long list of top clients 
in Japan makes them the bank 
to contact when you're doing 
business there' 9 


“ Backed by $17 billion 
in assets and a strong 
growth record, NCB 
offers exceptional 
reliability as a project 
partner in overseas 
development . 


5» 


“NCB’s long experience 
in foreign exchange 
and considerable size 
are reassuring. It 9 s nice 
to deal icith a leader 



People talk about NCB for some very good reasons 


Nippon Credit Bank 


Formerly Nippon Fudosan Bank 

Head Office: 13-10, Kudan-Wta 1-chome. Chiyoda-ku, Tokyo 102. Japan Tel: 03-263-1111 Telex: J2692! , J28788 NCBTpK 
London Branch: Winchester House, 77 London Wall, London EC2N 1BL, U.K. Tel: 01-628 4685/8 Telex: 884968 NCBLDN 
New York Branch: 2 Wall Street, New York, N. Y. 10005 Tel: 2 12-285*787 , ^ vT ttt 

Telex: (Domestic) 129229 NCBNYK, amemational) 232496 NCBN UR, 423621 NCTN UI 4 „ 

Lo$ Angeles Office: 800 Wilshire Boulevard, Suite 1450, Los Augclcs. California 90017 Tel: 213-629-5566 Telex: 674 377 NCB LAX 
Frankfurt Office: Niedenau 61-63, 6000 Frankfurt am Main, F.R. Germany Tel: 061 1-72 56 41/2 Telex 413387 NCBFM 

Paris Office: 23 rue de la Pabs, 75002, Paris, France Tel: 073-0066/7 Teles: 212847 NCBPAR 

BeirHt Office: 10th Floor, Centre Verdun Bldg., Dunant SL, Beirut, Lebanon Tel: 341474/5 Telex: 22194 NCBBR. T - 
Subsidiary: Nrppga Credit iRlemetioga! (HK) Ltd, Room 519, Connaught Centre, Hong Kong Tel: 5*264341 Telex: 65744 NCIHKHX 
Affiliates: Paris, Zurich, Honolulu, Jakarta, Sao Paulo 





PO a PO’.ER/ 
COUPON r.jiTL’.nlTY 


mmm. 


<F : I 

5-5u 

a% SjE I 
32' Srf ! 

** •r <r • 
^ ■: -1 ' 


,’?m 


BO® fv‘ =p/ 
C.2. e 2 




>»| 2 S 


-lip 
i ? a 


• Financial Times Mdn ^ Tu ^ 


SORBOVJStf. - - 

COUPON MAILWTTY 


e eg 3 V 

3. p£ 5 5 

8 Mil l 1 .1 


| 5r I - 

}| e 

els i | 

ii|! 
i fc 


MARKET. 

■MASKS- 


cs dolla ?J- 5 u FMSATinv.:. udsl ''- -mi 

1077 rozorLW cml * stp=l ? ?S 1/: fi.7: 
1 JO. DO (.25 15/ 2/1957 

1777* EDKOKU COAL * STTFL 95 2/9 11.3* 

IPO. 50 B.’;. I/IO’IH* 9.13 

:«7S EUROPEAN co»i- & fTir. 95 ■).:= 

79.50 5-375 .15/ 2.’ 1955 £ 

1775* EUROPEAN DUAL 4 5. It- 97 7/H 4.71 
99.00 4-375 15/ 2/ 19. 3 


9.65 

l-'l.-v. 

8.64 4 . :i 

IW..0 

8.59 


7). 30 

1176 

EUROPEAN COAL 4 NTT 1 -- 

3 5? 7/8 3. ’! 

M= 8.60 

23-00 

99.25 

8.50 

2/ S. - :?!: 

-.1-4 


20.W 

1978* 

EDBOrEAK COAL & STEP*. 

94 ll-'i 

9.04 

20.00 

99.00 

(.50 

1/ 3il“M 

!.:s 

»->s 

75.00 

1976 

99-50 

EUROPEAN COAL 6 STEEL 
8.675 1/ 5.1?b- 

“9 7/8 5. 52 
.5 

F.95 8.87 

330.00 

1974 

99.25 

ZUROPEAS COAL 4 STEEL 
8.75 1/12/1974 

100 3/8 I-Si 
s 

S.t 5 8.9r 


19)6 ZCROTEAS COAL A S7CZL 

100.00 1.75 13/ 1/19*1 

1975 EDSOPBA5 COAL £ STEEL 
99.00 8*75 1/ 7/ISM 

1977* EUROPEAN CTAt A STEC. 

100.75 8.75 lilL'l'-W 

1975 ECB07EA.*: COAL 9 STT3. 

200.00 8-0 75 15/12/1 VJ 

1974 EOBOPLAll COAL 4 STEEL 
59. DO 0.373 i:/t l/l 9X. 

1974 nPOTEAK CO/X 6 9TZZL 

10:1-00 9-00 13/ 1/1. ‘cl 

1978* ECP.0PEAJ! COAL 4 SITS. 
1D-7.D0 9.00 1/ 4/19*3 

1*77* EC? (TEAS COAL * 7T"TL 
1OC.00 9-00 lV 6.'|i»5 

197* ETSOPCAK COAL 4 .T£C7. 
99.03 9.00 1/ 5/1 »J 

! 977 EBLOKAK COAL 4 STEEL 

100.00 9.125 1/ 4/15*7 

1975 ETPOPU.T CCAL 4 7”!TL 

100.00 9.25 l/l I 1957 

197* CDFOPEA.-: COAL 4 IT:2L 

100.00 9-25 1*/ S-.'-f. 

1970* EUROPEAN CTAL 1 STEEL 

90.50 9.25 1/ 41 >'»( 

197* LC30*CAi: CWMCIITT 

95.50 7.50 1, 12.1979 

1977 ESPCTJW CCKr/S ITT 
99.00 7.50 l' *.-!«82 

:*:7* zr?jp£A.> cosssirT 

132.00 7. Hi 1/ 7/!?«2 

1976 ECEOPFAS C'MKMTT 

:co. co 7. 7 j 


100 1/a 2.63 

ion 1/4 A. 09 

3.53 

9* 3/4 19.34 
::.:9 
!33 3/4 7.55 


96 1/i 19.44 

i:-— 


7 HO 7/8 4.41 3.'- 


8.73 “.38 

IOI. CO 
9-23 10.26 

103.00 
9-00 8.64 

100.00 

9-4J 9. *1 

102.32 

8.92 9.75 

IOJ. 50 


,t - ; om;: 
23 
2982 


c*c =.:* 
1JH 1983 


*0c 2. on 
:«71 1976 

AOC T-50 
i«p. an?;* 
50 
1943 


98 3/1 

I. PI 9.11 9.98 

b‘"Z 

.*5 

«p n 

93 

!(.;? *.:S 102. -Ai 

l«!4 

15. "9 

LX 


57 7/8 S 

a.:r 9.70 9-6“ 

s-ii - 102.50 

*rc 

1“S5 

1.59 

l«:» 

vp ro 

LZ 

93 

97 ?.'S 1 

J**s *. >? 

30 

*.<7 

VP.Jf? 

411 


53 I/? t?. ; A 

5 22-3- 

101 S/S 2. .2 

111 2.4 T.*J 
t.2* 
39 I/S U.M 
! :. "a 
96 7 '5 1-f! 
S 

S3 3/1 i.o: 
37 4.03 


9.52 1.73 

ID2-10 


9-39 Ml 
1C1.25 
9-33 “•?! 

102.43 

7-75 


SO 5.00 
190) DP19S3 


VC 2.50 
1901 19"? 

*>: -si 

: nr? 


5T ID 359 103 .03 9*5 
La 

n? ED 359 **• 

>r 51 4*1 20 32 SI 35 
T.t- 60 005 917 931 

1)9 BAD 17} 

SP ZC 219 105 210 927 934 
La 

»P ED 359 105 423 927 965 

S!* ED 46 (05 
LI 

SP BT 441 *0 32 33 35 

XT 60 805 *27 931 

939 440 9 79 

X? ST 441 is 35 60 «5 

ST 927 931 9*0 973 

m ra 159 ••* 

LX 

SP ED 93 •** 

LX 

SP ED 339 

LX 

SP XT 441 20 32 33 35 

ST »0 SO) 977 931 

959 940 « 75 

SP ST 441 20 33 1) 35 

ye 40 90S 977 931 

P39 940 475 

SP ED 319 33 10> 405 40" 

LX *15 *23 510 9*0 

9.7 945 975 


60 Ml 97 7 431 
914 9*0 *?S 
441 20 12 J) 15 

40 003 977 931 
9)9 9*0 1»5 
219 105 2)0 .13 570 
9)4 
359 *•* 


458 20 32 31 IS 
hfl 00! 977 9)1 
9)4 «10 975 
458 20 37 33 35 
iO 805 977 431 
41!) 9.0 4 "5 


• 5 . • ‘ “ 1 99 3. 8 l • • - 

90.75 ■■■■■' l. 5 

iv«* isei paw 99 1/* 

19.*: *- '2 1 1. 3/190J s 

i*-: f. i.-..--*': E.Trc7;ir.T 3 .ra: :oq r." - 

100.00 (•'» i/ m?i» 

1*'- r.i ■>*■.> i :w’»isi i*sr. “97-4 

9-.50 f-lJ I !<• *(.*A 5 ■ c. . 

197* “fO-r»‘; EsrtSTWLST SiSK 99 1/fi 17-7o 
M.23 0-"7 l< 9/19*9 

H77 EDTC'LiS ISTESTHC77 IAK 97 5/g 13.34 

110.00 8.73 1' ..’19*2 

li/B" EOIOPHS aTliTMZKT Bins 95 •»» 

99- 53 3-T3 1/ 2/19*1 

1*7* ECP.OPCaS WiromcT BASH 96 l/* l»-35 

94.20 8*875 15/12/1996 E li-2 7- 

1975 ED90TCAS BTEFTHEST EAST 101 1/8 2.20 

94.50 9.00 15/ S/1900 

1975 EDPO'LW INVEST* EST BASK 101 1/2 4.*2 

100.00 9.00 1/11/1902 5 

1975 ICTOPEU: ISTE TT!i EXT 8 a5K 101 7,'a 4.25 

99.03 9.00 13/1 2/1 ?S7 

1975 EU90PEA5 IX9ESTXD.T 1ABC 100 1/S 3.05 

99.75 9-00 15/ 1/1987 

1477 ECTOPEO: ESVESTHEJfT 8 ASX 97 )/4 1*.*A 

100.00 9-03 15/ 3. 1947 S Jl.J* 

1178* tr&OPEAS DIVEJTMEVT 9 ASK 69 l^-"'- 

99-55 9-21 1/ 3/1948 S l-.ri 

1*75 mOPCAS 3VL5IMEF7 8A5K 1C2 3/4 5. '7 
100.50 9.50 15/ 7/1983 1.72 

i*7T > ramie TVTtswrcr bask 95 i/4 *.c: 

160.00 7.75 1/ 6/198. 

l«7J* R0KD1C 7STETT«KT BASK 97 3/8 »■"* 

130.00 8.75 15/ S/1988 

1970* SCOUtC TST7E SWEPT B£ p 97 l/s 9.16 
100.30 8.75 15/ s/ma 


1577 

«.'13 

EinopuN erases: 1 !-: H 7/3 

7.75 1/ *1 1532 

6.01 £.'? 8.17 


1 -t ro 
l.--:x 

l.J 

l“7a 

54.00 

ECLOPL9N C0!8«r(lTT ?2 1/2 

6.25 1/ «/!9f2 

3.?4 (.71 a.?8 


sp in 
L7. 

113 “•* 

IPai 

EDROFEAK "TTjrLLNT SCOT 94 5/8 

(.5) «■:: s.ai 

ra f.i; 

%r st 

3=7 105 

*>-50 

5.50 1»<‘1 :/!“>- 

100.5:3 u." 3?:° ) 


“il 

1963 

EUROPEAN TV7E rKi-VT AVNE 95 1/2 

7.30 4- =8 

?1 1-3) 

•.P ST 

327 ,Q) 

““.50 

*.00 iJ/ ? 

103.73 i>-»3!i?:l 

ST 

MO 


l r -*7 EDEOPEA'i TE7E TPLL'.T I AST. «S 0/4 ?.»4 *.3! 6.58 

«i.0o 6-50 if a.' I**: ;.n 7 .:. iot.m 

1967 ZmoriAl TS'-TETMnr: UJC 9* 7. i i.JO *-»•) 6.57 

90.00 6.50 J :/ 9/1452 z-:n T.'.'J 10:. C3 

EDEOPPJta OK’rtJWCTT BASK 91 A. 17 0.67 6.6J - 

99.50 0.50 I> 8/1 43a *.I7 7.0* 101.00 

1197 EDEOPEAS HTsTKENT B.55K .9* 3/0 9.01 *■?•' 8-68 

51.75 4.50 1/ 6/1*57 . -.50 7. 21 IOO.S7J 

1)51 E3MPEA.S iav-JI*rE:.T MR ?E 7/3 1.75 7.43 4. S3 6.23 

98.00 9-75 1/ 3/1905 1.25 7-‘4 ISO. TO 

1973 ZuSOrUV 1SVE T”. AT JMX 60 1/4 *.:? ?.- : 2 7.76 

9'- 50 7.00 IS' 1 2." 190/ 7-7? A. " 7 102-00 


90-23 7.25 15/ 10/14(7 

i?:j c/RorLv; ijri-.np “ ea:x 90 ?/i 

5= -50 7.25 12/ 2/1*55 


:*■» D7!0:j 
Vi 
y- ■) ??:*:; 


'.o 

:?:> D?i?‘: 
**7 ;.)7 

:?«2 Dr;*.-j 


•-P ST 527 10) 105 415 425 
SI 220 9*1 975 

SP ED 186 105 40S 415 425 
STLC3. 320 97 > 

SP ED 186 10! 405 413 425 
S/UTfL 570 975 
SP eu 186 105 405 415 423 
ST ’.a: *il 975 

:-r SI 327 103 405 415 425 
if 370 9.1 9/5 

ET 186 105 405 413 423 
V.*LLI «-l 9. ’5 
'P -->■ 230 10! 44 J 409 413 
IfUT -i.-O 1.3 520 9a 5 



8.;: 

7.73 

9 

t) ‘.OC 

2.50 

vp EU 

16a 

10. 

105 

40“ 

415 

6.S? 

Cm - 


1(1= 

70 15*2 

DP'.®") 

LT1.97 


17 3 

Mi 

MO 

975 

"A."* 

= .?1 

6.C3 


Hi J 

z. i> *1 

\? !D 

l£a 

10) 

<0> 

40? 

115 

T.a? 

j.<; 


102 

30 t?6- 


LiHDT 


,;u 

»2i 

520 

965 


r <11 

7.79 


30: 

.:•) 

N? rn 

1(6 

10! 

-05 

415 

425 


:.!*i 


13= 

to :?-< 


if.riL 


m 

*75 




7-«) 

7-75 


"0 

;.5c 

SP EC 

32? 

103 

105 

40“ 

4)5 


WORLD BASK 

-.TUB 8aNK 


wnrL3 5 ASK 

8. JO 

VOFLD HW 

B.-jfl 


K092.0 8/J.X 

8.25 


WORLD BASK 
I 8-35 

V05LD =4-:C 
I 6.373 


WORLD BASK 

i ».i" 

WC&LD BAT 

i 5-!i 

73RLD BASS 
I 5-9i 

VOILD BASK 
i 9—: 

fS MLUBS- 


1/ 3/1982 S 
1/ 8/1982 S. 
1/ S/1987 S 
1/ 6/IP87 8 
1/1 2/1984 S 
1/ 1/1980 S 
!/ 7/1931 f 
1/ 1/1985 S 
1/ 5/2002 S 
13/ 7/1930 S 
15/12/1980 E 
1/ 8/2002 S 
.1/ 7/1986 1 
1/12/2001 S 
15/ 7/(905 S 


1C2 3/4 i.*7 

5.22 

95 1/4 t. c: 
97 3/8 9.7* 

97 1/8 9.96 
95 1/B 2-77 

95 S/8 4.1' 

93 8.97 

93 3/8 

91 1/4 8.21 

99 ;:b i.:? 

98 1/2 3.09 
97 1/S 6-3? 

92 1/2 27.92 

1!.1t 

96 3/4 2 .. 3 


93 1/8 2.-7T 

19.-1 


a.J9 ’.*! 

L73.C5 

8.75 «-43 

102.00 

8.78 

101.50 
8.83 °.jl 
1)1. DJ 


9.43 9.11 

102.-0 


B.83 f-!( 

190.20 

8.96 


9.JS 9.TA 
102.60 

9.25 8.23 

101.00 

8 . 1 * 

101.00 
8.99 9.60 

I Cl - 00 

9.01 9.00 

1)1.50 


♦JT ’.TO 

IV. 

29C 1-90 

1>' 3 3?i975 
?CT 1.75 
1992 ?f 1*77 


)3C 3.00 
1973 PF19T9 
3C 5-00 
liii D?:?B2 


sac j-io 

1978 ?F1}75 


00 5.00 

1999 DPI 903 


30 5-00 

17)11 0*1986 


90 2.SD 
1940 711976 


42 1.20 

(953 »ri978 


S.67 7.49 
*.*1 7.61 


S* ST 4(1 20 ,37 33 W 
S: rt SC5 551 939 

«3 »7 i 

S'? SZ 413 23 32 33 25 
IT 63 POT 92 7 931 

9i9 9-3 6JS 

S* ED 126 ICS 4 25 415 435 

IDLE? 925 

SP ED 286 IDS 405 4)9 415 

LBO.-.T 420 4 24 975 

SP ED 165 *** 


<c? XT AL3 SO 32 13 39 
ST W (05 927 931. 

939 9*0 975 

XP n 165 •** 

LX 

XT ST 441 20 32 3 3 60 
ST 805 927 991 939 

9?S 

SP nr 525 105 230 405 409 
LX 413 425 950 

SP ED 594 33 930 940 960 
sot 

S? XT 441 20 32 3T 35 
ST 60 803 927 931 

939 940 975 

SP ST 413 20 32 33 35 
ST 60 £03 927 931 

919 940 973 

SP ZO 186 105 405 409 415 
Lm 425 520 820 947 

940 973 

IP SB 517 "** 

LX 

XP EO 317 35 425 520 740 

LX 745 911 935 9*0 

TP a 356 *20 35 115 750 

BQ 932 933 940 9-1 

930 955 960 920 
SP ST 457 6J 931 

ST 

I? ST 411 63 927 931 

XI 

6? SZ *57 3 5 60 931 9*9 
XT 

S? R 411 20 as 60 927 

ST 111 940 

SP S? 479 to 931 

ST 

SP ft 479 6C 931 

ST 

S? ST 411 83 931 


«7& m 


15/12/1985 S 

1/ 7/2001 I 

(5/12/2090 S 

•no Arise urs 


93 2.-..T1 

17.71 

99 3/8 7-13 

100 1/4 7.13 

98 1/4 23-7* 
12. 73 
102 l/l = 2 - 1 7 . 


9.12 9. *7 

132.59 


9.17 •.** 

104.30 


9.21 9.71 

102.50 


9.21 9. SB 

102.75 
9.37 a.-fl 
1)2.71 


SP XT 479 50 7JL 

61 

10 A. oo SP SI 457 35 63 931 949 

396* DPIJM .ST 

K? ST 411 60 911 

61 

SP ST 458 60 927 931 
ST 

)3 10.90 X? ST 411' 55 M 731 910 

1993 0*1993 ST 

SP ST 411 35 60 931 HD 
61 

39 19.00 9? BT 479 33 60 931 940 

1989 DPL1S9 61 

SP IT 411 35 CO 93 1 940 
ST 

5? ST 458 60 931 

ST 

’0 13.00 S? ST 411 40 931 

19B9 DPI9i9 M 
)) 15.03 57 St 453 69 931 

17?3 3?:9®8 SI 


muMB-nxugaa are (pwreana) 

3Q.C0 1978 B.C.B. - j • il/2' 99 l/» l’ 2 * 

130.00 B.3U 20/ BA9SL ft-. 

3C.U0 U77* 3QDS SU D’Aia. 7.75i 3/4 96 7/8 

■ 100.00 . 8.625 15/10/1982 S 

3C.OO 1976 8A3ZK VEAQB3 . . - .1/4 100.1/2 3- 01 

1DG.C3 . 7.688 U 6/13*1 S 

73-00 1976 5-3- P. 7:1/41003/8.4.75 

105.00 8.043 V 3/1983- 5 ■ 

50.00 1975 8.B.P. • . 7.5il/* WO 7/6 3-M 

104.00 7.813 U/9/198L S. . 

70.00 1377 8JB.*. __ , 5.75:1/4- 59 7/8 4-« 

ICO. 00 . B.OCL =1/ 111983 8 

75.00 1970* B.X.P. • • - t 1/4 . 99 3/4 - 5.73 

100.00 8.00 --21/ 2/198* S - 

30.00 1976 BQBX COO R SOB 1/4 100 3*13 

100.00 8.168 15/ 7/1981 S'; 

20.00 1977 XV 100TS-B*lTf0S6.Si3/8 98 1/S 4.78 

100.00 -8.123 9/ 3/1983 - R 

33.00 H77* ESOCAASSKA XAK4- lll.O 93 1/2 4.91 

99.00 8-93* 27/ 4/1383 ) 

50.80 1976 C.C.P. . .7i 1/* 100 5>11 

100.00 8.00 8/ 7/1983 S 

23.00 1975 C.EL7. -. 7.5:1/* IDO 5/B 3.5fi 

■100.00 7.873 22/12/1981 J 

35-00 1977* C-C-T. «23rl>A 99. 7/8 5.U 

100.00 7.7S a f 7/1983 8 

45.00 1978* (LC.P- .5- 75; I/A 99 3/4 «-Kf 

100.00 8-373 3/ 371335 S 

50.00 1977 GOBPCnKU 6.125:1/4 99 7/8 5.99 

50.00 100.00 8.688 23/ 3/1984.8 5-OL 

20.00 1978* 8EP COST* XXU I.Stt-l/A ■ 98 7/8 6.86 

29. CO 100.00 , 9.123 10/ 1/1355. 3 

50.C0 1977* CEBIT ACaZCDLE.. S.3.- 2/4 99 7/8 6.55 

100.00 7 -81) U/12/1984* S 

40.00 1976 cisMXABSTaii it i&yk too i/4 3.09 

100.00 7.813 18/ 8/1981 S 

40.00 1977 CTgDrrMSTBIZ »KlS-75«1/l 99 7/8 -5*97 

100-00 8.50 lBJi i/KS* 8 

3C-DC 1976 C.I.C. 6175; 1/* 99 7/B 3-l» 

13O.C0 8.063- V 8/1981 8 

75.80 1976 CREDIT CTO SEATS 6.75*1/4 100 

ICO. BO 3.00 6/ 5/1982 8 

80.00 1977 CTOTI7 UDXSiXB ' &Q;l/6 99 3/4 4-70 

100.00 7.875 10/ 371983- S 

3C.OO 1977* Cimn UDSUXS- 6-5:1/* 99 3/* 5' 07 

190.00 8.00 24/ 6/1983 -ft. 

30.00 1976 KUKIO . 6^Sli/4 100 1/4 4.53 

ZOO^SO 7. 81) 15/12/1982 5 

15.00 1977* Kn BASXne OT 6-Si 1/* 99 1/4 4-1B 

IOO. H 8.115 2/1/1982 .9 

125-00 1970 XS8L- - . 7.5eJ/* 100 3-OV 

n.09 190.00 9.23 31/ 5/1380 8 l-* 3 

'25.00 1973 BBPraCL (V24>8.yn-3/S 100 3/8 4.19 

25.00 100.00 9.063 8/ 8/1982 S 2-19 


®* ,B 100400 


45C. !6.W_ 
1S/S SZ19BZ 


179 2H) 3lX 2S 3ai v - 

sos f» i wrr- . • • 

*19 jUS 2IG2iS» K» " 

; -925, 

438 tlO 72 ft 90S tj- 
■ SQO-SJS.B40JW . ... 

•-■950 ' '• ,:-‘Z 

.y. 

948 =05 210 «?.'«* '• 1 ; 
903 914 923-100 . 

. 945 c-' ■ 

.« *** . • 


4S6UO SIS 230 tab . 

, 905 923 930 94JO.' 

tajSO lie 22ff 905 

- :H4 «S*S9>^»v; 

aa-staSttS 


J17 203 2Ifl-2l3 3»T 
52O 905 9U92S- 
. 930 935 9*5:947- 

los *** - 

103 203 2W 21S 320 V- 
.. 905 914 925 330 - F 
935 9UT950 : . * . 
96 =05 =10 213 220 
• S05\91 4-923 -9W 
940 945 JH 950 - 
92 205 210 TO5 7U 
• 915 32S 9304401. 

359 ata -ziosisim 

805, 9X*-«5;93» -- 
935 947 tad. 0*5 
.406 **• 


210 71939 ' 

I 903 914 -925 . 
335 £417 9S0r ■ ? 


■ 9C5H50S38- 


359 ***.- : 
408 K5 945. 


1974 Mem 
100-00 . 8.73 


8.5il>B 97 7/8 
13/8/1982 8. 


97.50 ;.)0 IV 2/I9TO -.’1 

>476 Elion.*:; isplcweli tc d 34 l/l 3. it 
r-.7S 7.T5 I5II/1J01 

:*rr- ecpopea:i tirsTMir.T task 95 2/8 c.n 

09.75 7.75 1/10/195. 5 

1977 ECTOPIU:.- ZSTESTMOrr BAH 97 7/8 5. 94 
190-25 S.00 1/ ViSW 

19 72 EUE07EIW ISTESTXE.1 BASK 128 1/8 10.38 

95.50 A. 00 I VIO/1944 

l«7C EVP0PEA.1 rSTEETMES? IA1K 98 3/8 'f.24 
5:-!0 0.2i 1/ *‘1905 

1«:« ED73PEA-! ISRSIXm 3.*-T 98 1/2 5. 12 

ICO. 00 4-25 Vll-ilf)- 

1977* EOP.OrC.'.f'aWSSTtt-.l f.«3; 96 1/2 €.S2 
ITi.ea B.:i 10/ 1/1935 

1577* EWnpLAS E.TT JDIt-T 8 ATT. 96 3/8 9.38 
■•‘.73 5.25 J5.HM007 

:?’? r.T=Pi«i EtTE3=E-.T EWOI 97 F.?i 

95.75 0.2) t: -/I'|?7 

:i77- Ewori-is i:reisn:s.7 jam 93 1/2 11.31 

5J.L0 i.J/i 1: 10/1992 3 S.£L 

797j rrwp«s rtnjr’ET S4ST pp 7.’? :.»* 

loi.oc e.'o u- 5 ;.:i 

nn zezo? :v.) ir-.-.T ?aji 97 ic.: > 

?=.:•! c.m :j. ?.j- 

i?r?- EC70.-E.':: l— iv.K Si:.? i.ij 
5.-.I J ».:•> I i 2. U:i 


.29 9.03 

lOD.liO 


6.24 <0 

101.50 

8.39 


8.55 9.33 

101-00 

8.56 9.52 
101.25 

8.51 8.99 

loa.so 
9.14 9-79 

201.82 

8.31 9 - IS 

102 .00 

8.76 

:ot.5o 
6. 82 9... 

iOO. 7> 


30 1.30 

1978 ?rI5:- 
1-50 
PF197. 
t.IO 

pfd;: 

30c 

19Si 

45 l-"3 

ns: pr.s'o 

90C 

1981 

10 10.09 

lit/ DPI943 

M T l-0'> 

:*>; am’. 

JO -90 

is-/ pri)7> 

?•« J.oa 

1>»- PFIS79 


.20 425 520 97> 
5 IS 105 230 510 520 
9.7 

411 20 32 33 35 
80 905 927 931 
939 940 973 

1*3 .w 

327 40J 409 415 425 
105 *** 

639 35 930 940 947 
900 

S2S 105 230 170 947 

642 103 US 870 911 
92? 1J0 932 947 
9*0 970 975 


32 33 35 
905 927 931 
9-a 975 
405 413 425 


3? iC 116 105 
1K.iT 973 
if I.' IBB **• 
LEU. .7 

NT SB 165 *** 

LX 


1973 A3 FLA VrtSSTVt 9l 1-3/9 99 A.- 1. 

ICC. BO 9.12i 8/ 1/1911 S . 1 

197’ ALLIED 1IISB BK 6.75;l/4 99 
100.0C 7.075 2-/ 3/1904 S 

1*7?* AMERICAS EXP 1ST L 1/4 99 3/4 3.03 
13C.O0 B-DO 20/ 4/1982 5 

1977 A5DELSEAI3E. - 7.0: 1/4 M 3/4 <-!l 

100.00 7-Bfifl 2/ 6/19(4 S 

(974 AREA LA- 5: 3/4. 101 Z/4 11.59 

100. DO 8.62S 9/10/1989 S 7-62 

1976 X.C.I. 7.75:1/4 100 2.8/ 

100.00 8.063 14/ 4/1981 S 

1976 B.r.C.E- 6-5: 1/4 99 3/4 5.41 

100.00 6.25 27/10/1963 S 

1977* 3.T.C.E. £.373:1/4 99 3/4 C.23 

100-00 8.125 23/ £/198- 5 

1*77 Msen DO BPASIL 6. 75; 1/4 98 3.72 

100-00 7.938 15/ 2/1982 S 

1 978* (ASM DMOH 7.75:1/4 97 1/2 4.64 
iOD-C'Q 9.0BJ 1/ 4/1983 S 

1976 U5K BASDUST 8.23:1-1/4 99 1/4 3.03 
ICO. 00 0.25 10/ *71981 5 

I?7B* BASE BAMCJ0LT L 0:1-1/* 97 7/8 9-?5 
10-3.00 9-563 25/ 3/1953 S 

1*75 3K3L OF TOEYO 8:1/4 101 2--' 

luO.OO 6.JK3 lS.'Il/IflW i 

197* 345T CF 7CKT0 6. 75: I/- 100 1/2 3.77 

100. 00 0.00 20*10/1941. S 

1977* 34X5 CP TiHTO 6.5: 1/4 99 7/S 6—5 

10C.OO 8.50 li/11/1964 S 


33C 1.5-3 

1979 1979 

305 
1961 
30 
19 SO 
360C 
1981 

45C 1.00 

1978 S31975 

-30 

1979 


SP ED 408 955 914 915 
LX 

NT ED 517 *** 

IS 

PC E3 408 **• 

LS 

X? CD 359 2:0 2 ID 7! 5 905- 
IX 914 925 93C 925 

940 946 9iS 963 
CO EE 96 205 215 220 9C5 

LX 91* 935 940 

PC SB 406 210 215 220 4C5 

UC 425 90! 91- 925 

930 935 653 
cg as si7 •** 


323 20s :io ::a 210 

905 914 SIS 933 
456 210 233 W5 914 
915 930 

92 205 210 130 935 
925 

92 205 230 MS 925 


50.00 1977. 013 AREA SXSS Z.SU-l/*. 96 X/4 4.00 

50.00 £00.00 9-113 31/ 5/1982 8- 2-53 

25.00 1970 GEBRAZ. CASUS . . 7-5: 1.0 100 1/4 2-34 

15-00 100.03 ' 8.875 30/ 9/1980 6 2.4* 

25.09 1976 GZBDSSE8 1 ZE8E8AI 7. 5:1/4 100 1/2 3-17 

100.00 8.063 31/ 7/1)81 . S . 

40.00 1977 (XSOSSBX .SEHSAL 4.0; 1/4 99 7/8 4.E5 

100.00 8.25 . 6/ 4/1983 8 

30.00 1977* BAEOAUH DHL . 6.73:1/* 99 1/8 4.28 

100.00 . 3- M3 8/ 9/1582 8 

75.00 1977* EnsioCAMdm-XK 7-5:3/* 97 7/B 4.5S 

100.00 -8.375 22/12/1952 5 

50-00 1977 Zan&T 89talAPA9 6.0)]/* 99 7/8 3.72 

IDO.M 8.00 15/ 2/1982 S 

50.90 1977* I8M3T BEKTABAS 6.5:1/* 99 7/8 4.42 

iOOjro 8.25 L ‘ 1/11/1982 8 
33-00 1977 09 i HSl Dr BK 6.7513/8 97 1/8 5.87 

1-70- CO 8-188 14/ 4/1984 5 

25.00 1970 ZSStLCO ' 7. 5:1-0 100 1/4 2.17 

15- CD 180.00 8.673 ' 31/7/1980 8 1-97 

129.00 1 977 ZST VE5nOSTSK IT 6:1/4 99 5/B >-69 

T 00.00 8.00 20/ 4/1984 E 

50.00 1978* Z5KZKAUAjHl*4U5.75il/4 99 1/4 f-91 

100.00 8.25 27/ 4/19BS 5 

28-00 1977* JBC0B43XA ' - MilJI 95 1/2 9.17 

99.00 8.875 1/ 8/1983 S 

30.00 1977* ZAS8ALU8-OSAXB 615:1/4 99 1/8 5.14 

100.00 8.00 20/7/1983 8 

30.00 197<i UOHZ m IUV 7.50» U* 99 3.30 

100.00 8.00 15/ 9/1981 S 

20-00 1977* uma OX HIT 6.75:1/* 99 6-30 

100.00 9.00 15/ 9/1984 S 

73.00 1976 HDTDB OTHriX 7.25:1/4 100 1/2 4.99 

1B0.M 1.688 26/ S/1983 S 

30. CO 1876 KOBE TDH CIED 6.25:1/4 100 3-55 

100.00 7.813 15/12/1981 • S 

40.00 1977* LCOC TEB CR3I 6.375:1/4 100 6.16 

100.00 7.938 27/ 7/1982 S 

63.00 1873* USD TEM CRED 6:1/4 99 7/8 4.72 

lOO.DO 8.00 15/ 2/1963 8 

50.00 1976 VIDUED BASK -7.5: 1/4 100 -* '8 4.72 

100.00 8.063 ,18/ 2/1983 S 

50.00 1975 SIDIAn BASK sJlll/k 101 I.'S 4-45 

190.00 a.SD 12/11/1982 S 

50.00 1977 SZ3LUB TBTL FIX 6:1/* 99 3/4 8.97 

100.00 7.688 18/ 5/1987 5 

13C.00 . : 1977* XLCXWAL nSAKClHUL L6: l 96 1/2 14.60 

130.00 6.563 5/ 1/1993 S 


9>M 100-00 

10.19 


1980 

30C 10.00 
1978 1971 

JOC 5.00 
1978 1978 

30C 1.75 

1978 1975 

5.00 
197B 

30C • £.00 ' 

1978 1972 
30C 

1979 ... 

30C 

1989 - 


30 

1980 

30 

1978 

3QC- 

1930 

60C- 1.00 
1978 1971 

•WC 
1961 
30C 

1931 


405 40» ns 
I US K3 91* 
i 930 - '-"• 

i 914 525 

f 916 915 933 

915- 920 9=3 

7H8 925 tab. 

1 965 . 


359 M* 

586 905 914 


215 22? *09 
914 9U-950 


905 925 9*0 
914 925 


215 9CS 9!4 

no s*a H9 

950- . .r 

9 15 . . 


517 210 215 220 90S 
91* 9ZS 9 La 935 
9*0 945 94? 950 
517 210 215 220 90S 
91* 9=3 950 933 
-' M 947 950 
348 *** 

103 210 215 220 90S 
914 915 925 930 







: in. •)) 

-•) IV"* 

)•: wo 

co IV-. ■ 
Ivj.oo 


I/ALVJ . 

r.tia i*r> s 

JuPL’-’t c-P : “ 1.25: . 

>.:i O'.'/i i/ ipAi s 

.PRITPEOTA PVTX 

».' 1 j to, I'ldSJ s 
EDTAL EA’T.-SCCI T.TSiI'A 
£.;;j */ Jtiioi s 


10.00 I*?!* D.P.T.E. S.-5'l 

so. -w ;?j.e) E.iti 5/ *■':?!) » 

:-9.00 1974 S.F.T.S. 9:2-4 

iv IiW.SO e. LIS 7/ <'!?:. 5 

so.eo 1*:? s-N.e.r. >.£«:!•; 

t>n»-*>a a.-.::- :! * 

7:.-10 ••‘In SOCIPTi. WE.-.CVLI :ii 

1 Cl 6.50 IV :.'!?•?! 5 
ifi-I) I ’ • I • JOl'T ‘.7? GL.:t U.\£ : 

i'/.-'j) A. 125 1/10. !'■>. S 


3.. -5 :■»; s 

i « arrii -> fan -: !. : . 


.-jo.»i*r s-.jp i.‘.« i 

"-'JJ ! *C3l7a'M mil 1.7!: 1 - 913/8 5.79 

1«".«0 7-5.5 16/ 3/1953 S 

23.00 1 *77* r.B.A.T. 7.25:1/4 99 1/4 4.52* 

iM-00 J.iZS 7/12/1982 S 

25.00 :«6 D.E.A.T- 7.5: 1/4 99 1/4 3.01 

LOO.OO 7.688 3/ 6/1981 5 

23.00 1977 U.B.A.F. 6.75:1/4 99 1/4 3.B1 

lOO.flO 7.875 23/ 3/1982 8 

30.00 1977 US ION ar-FTSLAHD 6.5: 1/4 99 3.89 

100-00 8.Q0 SO/ 4/1982 S 

=5.00 L47» UNITED OTZPSEAE BK 7:1/4 99 5/B 3.49 

100.00 8.638 =4/11/1981 5 

25- 00 J 978* usrm) i)TCB 5EAS is 6:1/4 99 1/8 4.93 

10). 00 8.313 4/ 5/1981 S 

25.00 1576 CPOCUO INtL 7.2!:l/4 96 3/8 3-S6 

100-00 7.81 J 2I/I2/198I S 

25.00 1)’1> T1SCATA 1ST 7.2511/4 98 5/t 3.43 

IvO.O'/ 8. -33 I! f 1 1/1981 S 

AS.OO 1777 WXUUMS 4 P-YSS £.S;1/, 100 5.75 

100-00 8.0*3 26/ 2/!9?i S 

405 TPM TV. inLLAPS 

15.00 1976 AUSTRALIAN AND LPVTCOR? 96 1/4 J.3A 10.93 

*N-2! 10.00 1/10/1983 

10.00 1*17T) ADFTPAL LAS 7£^ulJ|i3L5 96 4.51 11.14 

100.00 10.00 1; 12/ 1963 

15.00 1976* CITICORP 0/5 PIS L 98 6.7110-91 

100.00 10.50 15/ I'l*85 

12.00 19J8* ?AJK OTE.ES EA= BOUilNCS 97 3/4 5.09 13.10 


-.Ml 

■■■■ 

-.79 

7. a: 



:;r.:o 

r i 

4.-7 

i.-.i 

; .; 



r - 

:.io 

r.rj 





:-!) 

7.4? 



I '<5.03 

I j:5 

3.50 

8.5? 

3dC 


leo.co. 

IS.'? 

£.4! 

9.21 


— ?0 
4.93 

J.11 

75C 


:oc.03 

1>J0 

4.(9 

(.»! 

40 

4.2S 

109.50 

19)1 

£.02 

8.79 

6r.iC 

' ..11 

100.09 

:??? 

13.68 

8.1? 



IN-7.05 

:««-.■ 

2-16 

3-5: 

: .1 


100. CO 

: -:j 

5.34 

a.n 



ifiu.00 

1“?1 

5.39 

F-7-j 



:-'.0.)j 

l-'<ai 

1.95 

i--5 


5.79 

7. il 

30C 


120.00 

1961 

4.51* 

7.6? 

49 


100.00 

1980 

3.01 

7.75 

JO 


100.00 

19/9 

3.B1 

7.J3 

45 


100.00 

1*80 

3.89 

£.08 

30C 


100. 00 

19?* 

3.49 

8-72 

joe 

100.00 

197? 

4.» 

8.39 

IK 


100.00 

1981 

3-S6 

7.94 

3 DC 

IDO. DO 

19.-J 

3.45 

(.56 

;•>: 


100. DO 

J?'“ 

5.7S 

8.06 

)•»: 


100.00 

1931 


•7.*: 5 J? 1 1! 005 915 930 
:: •• ».o 9-7 

ic 434 :*i ai.-i :;o «ai 
11 * - t: : *>4 »! 3 

9-g ’.5 »..o 

w iL- 406 jo :io ::<* ®-.>i 

u. •?.. 9.5 *;v “J* 

'l.o >»: 9>o 

KP ED 517 ••• 

LX 

?i LD 292 210 =15 2=0 SIO 

i-i 905 914 915 930 

W ra 518 230 905 913 

LX 

PC ED 350 205210 213 5=0 

LS 90) 914 125 930 

135 910 945 9)0 

PC ED =30 «• 

LZ 

r; ZD 316 215 405 409 *15 

LS ,‘C :>5 520 905 

91. «5 9)0 

r.r. ED Ifl) ... 


NP LB 117 210 21! 220 MS 
DC 9=5 ?J'J **5 9.0 

*1'. M 950 
i? ED 408 -«» 

LS 

S? ED 33* :n-. 715 914 9=5 

Si" 9.0 9.3 

se ro 396 =10 :if «o* «i* 

L*;i 92! 930 933 910 

4-5 9>0 9)5 
SP ED 105 •*• 

LS 

SP ED 105 20! 210 215 220 

LX 905 9=5 920 935 

915 MO 

SP ED 105 


517 210 90S 
930 935 
965 

390 205 210 
914 J25 
950 . 

517 210 2(5 

91* 925 

292 =10 =15 
905 BU 

488 


BORR07.tR/ 

cci.ponM4Tijr.rry 


CASMIA*: MLLAS5 /C OCTC .1)1 

: ;r; s.u : : ■ n * .* r/s 

■‘...I . :: .* .»*: 

:>'* 5*:: ■! a: ■:?;! ».».i 5? ::i 

*■/. '•) v..> v. .} j= 

:? - o =Ai4’?- rv ». ::: :'s 

99.M-3 J.,-5 :./ : 1?62 

1976 CAXAM PEK1 "0'7 2C3 T.'i 

IO-J.0O 9-:i 

19-* CAvi.l TXCiUO «.7E Fi i ? 
loo.ca 9.-J i.‘::'i96i 

1977* CASAni 1 --) AKKPTA'CE P 5? l.*i 
100.00 9-3ri I5/IP.L9S2 

1977 CAT.AOLl: SiT MIL CO 96 7/S 

99.15 S-S75 1/ 3/1*67 

1976 CASOriS PAVrt-7 SETS S9 3/4 
1CO.0O 9.25 15/ 1/1*53 

1975 C ABAC IAS PACirtC ST17 1C3 

100-50 9.75 li/ 12/1981 

1*77 CHCLLLf. =KDi: - CA-E24 *1 2/* 
100. 00 9-. 5 IV b;19/-- 

i»T6 evil" f-rrurr - ■: v..-,; i 95 7. 8 
9*-00 9.53 I i, I &.'!*». 

;*?* cm of m u. ?i 3 . 'a 

99. CO 10-00 :/ 7/1994 

1973 c:it ar cut re l :/4 

(00.00 13.«0 15/1 l/l? ?5 

!i7i cit^ 0p vL'sasr 2 raj 

100.00 le.Tj 1).' 10/ 1**1 

1976 CUT!: or I T.IT CW.P -C/- .ii .CC- 1 ') 

100.00 0.7j IV J-lN-L 

1*74 CCPCIFIC.'AL r: lo%- 2 L32 

100.00 11.23 IV 1:1 1"! S 

1977 cpznrr rose up r-or 97 2 'h 

100.00 £.73 13/ 2/1962 

1976 CREDIT raslItP r-CA'-- 100 T/B 

100.00 9.75 13/ 2/1981 

1976 CREDIT FOSCT SB F-CJW LOO 3/4 

100.00 9.75 15/ 7/2981 

1977 DRESSER OB [CAWU1 ? 98 1/2 

100.00 8.50 15/ 3/19L2 

1976 DD POST or CANADA 102 1/8 

LOO. 00 9.50 15/, A/1981 

1976 EUROPEAN COAL 4 STEEL 100 1/4 

100.50 ?.i» 15/ 3/1983 

19 77 mOFEAS COAL 6 STOX 100 3/8 
L00.50 9.00 15/ A/19B9 

1975 HRS! CASADIAS ISTEST 102 1/8 
100.00 10. CO ]/ 1/19(1 

1977 FORD KOTOR CUOIT-CAMADA 96 1/2 

100.00 8.50 15/ 3/1 *8* 

1977 pmd wrrraf ewart-c vjjii 9S 1/8 
99-50 8.75 -15/ 5/1987 


t J 

M* 

--/4 = 

= = of 

s ts 



BORROWER, ’ 

* COUPON MATVRTY 


l|S 
Sill 
|s |S 

J 5 


h Is g - 
zi Is |J 

U 

-2gj*“- 
S3 5S S £ 
£“ !3 != 



2.94 9-79 9'. 24 !?.»* 

2.:* 9.J2 

*.08 9-29 9-33 

3.96 9.31 9.62 

3.42 '9.15 9.68 
9.51 3-34 9.13 
4.38 9.60 9.46 

8.75 9.43 3.16 9. *9 

15I.M 

4.88 "9-30 9.27 «.4J 

100.90 

3.53 S-’D ■ 9.47 5.23 

IOC. 90 

4.04 10.92 9i76 11.33 

lCO.Ofl 

4.31 10-TD 9-PI I'?-*! 

• lOu . )0 

15.09 10-03 10.03 

102.50 

17.46 9.95 9.98 

102.00 

16.38 10.28 20.29 ic. !? 

102.00 

2.96 9.64 9-7J 

16.63 11.28 11-23 11-45 
12.88 11.25 IGi.uO 

5.72 9.60 8-99 


M 7- f 2 57 E3 103 ::■) 5L2 9-S 9J3 

:«:) li *)) 

:-f.o n? re i:-i s;= ®i5 H6 

II ?-•.*:) 9f0 

t-.ic m u :> 2i) ::•? "<i 

IX '•)-• 9?- i-o 

J-o !>? 9:3 

S? ED 319 — . 

Z\ 

: ? ZO 64 * ** 


CJL‘IAMA.5 51.LL.4P5 lO iTZ-lEOJ 

371TA rrcTLA PCWE7 L. 1OT 7/8 16.09 9.39 

9.V7 ?/l 194 

?AST»;joTAK ?T»n 101 3/4 3,46 9-30 

P. 75 15' I J. .'«*3 

PHOT! see or MAN iron 99 "7/8 6.92 9.17 

9.2i 30' i/.WS ' 4.*2 9.27 


30 2.40 

4*!3 PJ1373 
20 
1*71 

1*60 

30 

I*!! 

39 

!?*! 


2‘7 1.47 

19*5 19 ii 


10. J9 ’« SP ED 350 *60 

100.50 1950 LZ 

10.42 II. -0 30 SP TO "400 960 

100.00 1981 L*S1 

10.71 11.21 30 1-50 PS ED 412 960 

101. JO 19BJ PFl?Ji LSS1 

11.76 

PC TO 346 947 


SP ED "400 980 
LaSL 


100.00 11.50 1/ 7/1983 

ad ns LAS sen ILL Die) 


1T0.00 1771 ASIAN EiCTELOfflCfT SANK 98 3/4 5.56 7-*l 

90.00 93.50 7.00 20/12/1983 S 3.0b 8.22 


3.0b 8.22 
8.39 7.99 


5*1.00 1976 EUROPEAN DWESTMEST as P 100 

350.00 9?-25 S./.0 20;i0/l?46 

loo.oD i?;» AWEs-viEXirAP det ar. o 99 ' 
JCQ.OO 9?. 23 P.00 I 7/12/IS86 

275.00 197* 0SIEW4IC8C roMBOl LB.14.K 101 

M.00 9...0 U/ 8.197J 

swim disar) 


15.00 1977« PZTSOIEO NIPICAVS L 98 

15.00 100.00 8.7J Is 'I 1/1987 

CALADLV: H.--LLAP3 


25.00 1977* ANEAICAS M5PIT.lt '.IT' TUT 97 3/8 6.3» 9-29 

99.50 .1.75 I .'Id: Do- 

20. 00 1977* Aero fu: 2EFT-C.VUM 97 7/8 4.17 10.13 

100.00 9-50 |/ 8/1962 

50.00 l!»76 BASK or SOMTPEAL 100 1/4 4.30 8.90 

100.00 9.00 13/ 9/1982 

97 3-73 9.22 


7.21 90C -15.00 XP ED I 310 

105.00 19TB 1974 NX 

8.00 51-14 SP BD 1 310 

100.50 19(1 19(1 VS 

(.02 (.!( IK 50.00 NP ED 1 310 


rara mm cbedit-canaoa 

9.15 1/ 2/19(3 


PORD KOTOR CIFXin-CATAM. 

9.75 1/11/1940 

GEBELCAN B 

9.00 15/11/1981 

OEXELCAX D 

9.50 1/13/1982 

CKBKRA1 POOOS LTD 

8-50 1/ 5/1994 

OBI MOTORS ACCEPTANCE 
9.00 15/10/1931 

CU K0T0K5 ACCEPTANCE 
9.00 1/ 2/1982 


6.05 

8.05 


100.50 

1981 

1981 

VS 




1.21 

8.53 

.“.41 




CC 

EU 

287 

310' 







u 




“-17 

*.11 

S.»5 


<v 

7.01 

Be 

ED 

5(5 

250 

4.D? 

9.;; 


191-70 

i?:» 

iPA- 

TO 




9.46 

9.06 

8.JJ 

10-04 

4>: 

3.0')- 

SP 

HE 

5(5 

£» 

7.v6 

9.11 


101.00 

I960 

1993 

CQ 





30.00 1977 B/EI0CE CASAaiPNi.C SAT 97 3-73 9-22 

99.73 £-25 11/ 2.1982 

13.00 1976 3AN0PE CANADTn-sC SAT 100 3/4 3-88 9-00 

100.00 9.23 13/ 4/1942 

20.00 1976 B.C CELTttL CREDIT UNiOK 100 1/2 3>56 9.34 

99-50 9.73 22/12/1991 

=3.00 1977 SH-RT 98 1/8 4.01 9-33 

iao.00 8.75 1/ 6/1952 

50.00 197 ? BENEFICIAL FIS 1ST 98 1/4 9.72 9-39 

!>,00 9.00 IV 2/1544 

10-00 1915 BESST ICIAL rt.) Lnt 150 1/2 2.13 9.21 

IvO.OU ?.50 15/ 7/1380 

23.00 1975 StSEFlCIAL FIN 1ST l 100 7/8 4.55 9.47 

.jao.oo i-rs i5/:=.i9SA 

JO.OJ 1975 B=mC£AL PTN 1ST 102 3/8 3.13 9-36 ' 

!0.;5 1.- -10/1381 

2J.0& 1975 ME5-VAB5ER AT.CEPT-CA'I 102 3/4 2.51 8.93 

lOO-ill 10-25 1/12/1960 

25.C0 1977 3Z1T15E COUDOIA H.P.A L 96 7/8 19.01 9.36 

100.00 J.OO 1/ 6/IS97 


(.09 9-44 30 

Ku.uO 1>M 

9.71 

E.®8 9.39 30 

100.00 1?S1 

8. SI 

3.18 S.«3 30 

100.00 1181 

9.70 


re is 433 *«* 

1-4 

PC ED 4(8 •« 

LX 

BP EO 165 *** 

LX 

SP ED W 33 4=5 !!0 (03 
LS ■ gn> jji 9ij 9)7 

9.0 90 940 W 
SP ED 64 210 (OS (10 *12 
LX 933 913 960 9(0 

BE ED 431 33 210 425 570 
LX 912 95) 937 9)0 

9i5 960 MO 
PS ED 16S «*» 


9-59 

in 

re zo 

235 W9 

50.00 

IJD-WJ 

1982 

LZ 

TO SO 
IX 

215 35 210 <7! “12 
925 ?.1> ?-0 94) 

20.00 

9.41 

30 

P 5 ED 

?-6 “«7 HO “80 

235 35 210 “li *20 

as.oo 

100.00 

im 

u Z 

9)5 din 9D 

9.04 

31 

■PC EC 

Oi>q frin 

215 35 -JlO 912 9^5 

10.00 

DC. CO 

13i3 

U 

“Jj “40 715 945 



9*7 9o0 940 

PC an 418 35 £10 U5 912 
12 940 945 947 9*0 

910 

IP ED 103 33 SIO 423 520 
LX 912 13 7 940 945 


1975 CEB MOTORS ACCEPTANCE 101 1/2 

lOO.DD 9-10 1 3/1 0/1161 

1976 CES JWFOSS ACCEPTANCE 1M )/4 

100.80 9.30 1/ 2-I9A6 

1976 CES NOTi»S AOTEPTANCC 1011/2 

IlXJ. 00 9-75 ii'tO.'IIM 

19*7* autt r. Brims (can. 91 3/4 

I0Q.OO 9.50 IS/ 7/104- 

1976 WA17TF I. BEL LEE TCANl 99 7/B 

98.50 9-73 IV 0/1961 

1973 DPS5W8 BAT 1 5: j.-g 

100.30 10.23 15/11/19(1 

1976 ZAC LIMITED 100 1/4 

100.00 9.50 15/ 5/1991 

1977 1ST BAKTE3TZP. CPEDIT-CAS 97 1/2 

100.00 8.7) 1/ 2/193) 

111* HEP BAR7WT1* CBEt'TT-CAS 99 7/8 

99.50 9.T3 15/ -/!»•% * 

1975 1ST BAITUTBR CKEDiT-CAM 102 3/8. 

100.50 10.25 1/ 9.:«*1 ' 

1976 1SB CASADIAB T5SA5CE loo 7/B 

100.00 ■ 9.S0 1/ 6/19(2 

1976 ISB CANADIAN FISMCE 101 •/( 

100.00 10.00 1/ 8:4956 

1976 KEttOS! WST.CjTSP 199 

99.30 9.25 13/ 6/19(2 

1977* unanmoE rrs enr r 97 7 -g 

mo.oo 9.50 3u/ 6/1531 

1977 KAN a« LEASTS': CVIBA ?! 7/S 

100.50 8-I5 lii 3.195: 

1975 SQfiASDA MLNSi liO j.j 

99.50 !*Fi 1/U/USO 

IS 76 K0SAXB4 SIStJ 19L 

100.00 9>79 1 3/ 7/191= 

1978 TOOK 101 V* 

99.30 9.73 15/ 4/1 M3 


97 3/8 J.72 9.60 8-99 

100 7/B 2-71 9.33 9-67 

LOO 3/4 3.13 9.44 9-68 

? 95 1/2 3.79 8.96 8.63 

10= 1/8 2.72 8.55 9.30 

100 1/4 4.79 8.92 8.98 8 -87 

100.00 

100 3/8 5.48 8.91 8-97 8-87 

100.00 

102 1/8 2-59 9-00 9.72 

IA ?6 1/2 3.94 9.29 B.ll 9.40 

1 00.1)3 

11 9! 1/8 6-96 9-41 9.10 9.63 

100.00 

IA 89 7/4 4.68 9-26 9.26 9.26 

100.00 

14 101 1/2 4-13 9.03 9.34 8-91 

100.00 

11 101 7/8 2;AZ 8.« 9.57 

B ?9 3-46 9.32 9.09 

D 100 1/2 4.51 -9.33 9.45 

93 3/4 5-92 9.46 8.88 9.B3 

100.00 

1M 1/4 3.38 8.88 8.91 

99 3/4 3-68 9.03 9-02 ^.07 

100 3/8 3-01 9.13 9.22 9.10 

100.00 

101 1/2 3-» » M 9.36 1 0 8.73 

100 J/4 7.68 9-3* M3 

10, 1/Z 10.38 9.50 9.61 ^ 

9. 3/4 6.13 9-77 9.62 ^.97 


X? EO 596 912 9=0 H7 9S0 
IX 

SP ZD 77 *** 

LZ 

PC EO 218 •** 

LZ 

PC EO 318 *** 

IX 

PC ED 4-0 9W 980 

LX 

PC ED *12 35 1,0 (’0 9! 2 

L.N 9.0 9-S 090 9r0 

3P ED <12 =10 912 943 9*0 

li 

iP ED >12 210 912 945 980 
LS * 

i? EM 103 210 912 9*5 980 

LS 

re ed 317 :in 9i= ?:s 337 

LX *15 9«0 

iP EO 57 9 h5 


49 =10 s:a 8:0 912 
9)7 9.5 »M 980 
49 210 520 S’O *12 
937 9)3 SoO 980 
599 960 


S7VA prCTLA Fi*.-E7 L 
9.M S' !/HM 
PASC4N*D1AK TT.TI 
“VS 25-1J. ;??3 
PHOT! see OF MANITOPl 
“.=5 30’ 1/.W5 

TIQllSCt OF NEWTOCMitJiSD 

• “-10 lii !■!“»] 

PRO V L1CC or S El r-MV.L AND 
10.25 IS. I’-IHS 
PWJTT.se 6 OF NOT* SCOTIA 
9.00' 15/i:'!®P.3 
PHOT OCTAL BASK-CASAD4 
9.50 15.’ :.:*s= 

POlNTZ-ATZ-TRiiai f 
9.75 1*/ 7/ l«52 

QUEBEC FTiTBO-drCTBIC 
9.50 15/ 10/ 1 “81 

qOUEC OMAN CfflfC-MTT 
9.50 3/ : 

QUEBEC IDJAK fl’WlTITT 

9.50 13/ *: l«a- 

qracc dbras ■-'wn.-’/i — 
9.75 =•>. 5/IKJ 

QUEBEC URBAN iMtTOMTY 
10.75 15.- II 19 7* 

BASK (ITER SEAS !‘Oim.S 
9.50 15/ *. 11(2 

BTTAL B.«K OP 'Al-til 

8.00 15/ =/['.« 
R0IAL RAM OF CANADA 

8.73 If V 1-1*2 

aDIAL RANT or CANADA 

9.00 15/ 2/1992 

X0TAL BANK OF CAUD4 

9-50 1/ 4/ 1*P0 

aom TRUST cn HORTCA-JE 
9.50 15/ 2/1981 


100 4.9a 9-50 9.50 

' 4.16 9-51 

102 7-55 9-S* 10.05 

100 1/2 5-55 8.86 8.96 

10ft 3.72 9.67 9-50 

M 3/4 4‘.I3 10.12 9.17 

100 5/B 3.38 9>24 9.* 4 

98 3/4- 3.68 9-89 9.62 

98 1/4 6.X 9.87 9-67 

98" 1/2- 4.99 10.15 9.90 

100 1/B 1.46 10.55 10.74 
98 1/4 4-04 10.04 9.(7 
94 1/2 5.71 9. =7 8.47 

Z01 1/4 3.94 8.34 S.b4 

97 1/8 13.72 9.37 9.2; 
11.55 9.41 

102 5/8 9 Si 9.011 9.26 
1.44 9.00 

101 1/2 £.72 8-82 9.36 


9.43 

“O 

SJ 

PC 

:sj 

710 

ioi jn 

l“Si 

LX 



ORO 

“.in 

-.i 

r r 

Fu- 

::a 

... 

iOC-OD 

r«:[ 

LZ 





““ 3.00 

r.F 

el 

ti 

33 

102. M 1 

1?“0 1981 

LN 



?:; 


30 .50 

SP 

RTF 

102 

Vo 

10l.no 

197“ ?ri“.a 

IS 



?.: 

9.« 

an' ,.;o 

HP 

EC 

103 

210 

191.30 

1960 pri*76 

LZ 




. 


KF 

ill 

. 64 ' 

*** 



LS 




«J7 

30 ' - 

SP 

EC 

7 7 

ZIC 

100. nn 

19(1 

LZ 


945 

10-RS 

I.nc 

■ SP 

EB 

18 1 

912 

161.00 

I960 

LZ 






r-c 

ro 

165 i 

»** 



LX 






rr 

EC 

408 i 

J2S 



LZ 






SP 

EC 

408 « 

9=5 



LX 






SP 

ZD 

'18 ! 

912 



LX 






SP 

ZD 

IB 1 

912 



L.T 






PC 

nr 

346 “A* 


30 8.35 
19(1 DP I 98: 
30 3.00 
1«(L DPI9« 


PG EH 418 «** 
LZ 

PC EO 4LE *** 
LZ 

PC ED 4X8 *« 

LZ 

PC EO 418 *** 
LX 

PC ED 418 *** 
LZ 

PC 227 980 

DO 

PC 227 980 

UQ 

0 EO 64 •** 

L 8 

PG EO 456 »** 
LZ 

PC EO *56 **“ 
LX 

PC BO 456 »*• 
LZ 

PC ED 456 *•* 
LZ 

7C ED 456 *** 
LZ 

PC EC 456 
LX 

rr. re =]( »*• 


456 210 912 945 947 
980 

Alt •** 


1976 VITAL TRUST CO SUnCACE U)l 3/8 

100.00 9-75 1/ 9/1982 

1975 lOWAROE LEAN INC JOQ 5/B 

100.00 9 -SC 15/10.1980 

1976 Bonum 101 - 

100.30 9.73 U 2/1982 

J97J BOWAT 100 1/4 

99.75 9.50 1/ 9/1*80 

1974 BJTSAT 100 1/8 

99.50 9 .50 1/ 7/15(1 


3.04 9-79 9-76 

3.16 9-37 10.01 9. ON 

100. Ou 

1.96 9.39 9-48 

A. 68 9.41 8.97 9.56 

100.00 

7.18 9-76 9.76 9-94 

6.09 *.7* 100.50 

1.26 9.34 10.01 9.10 

* 100.25 

A. 17 9.22 9.42 9. L3 

100.00 

8.17 9-SI 9.7* 9.01 

1.37 9-*S l<W.)7i 

4.04 J'l’ 9-25 9-11 

100.00 

4.08 10- 13 9.71 

3.96 9.21 8.52 

2.(2 9»=* 9-67 

4.13 9.U 9.63 

4.18 >-U *.8* 


2,8 ji :tn n=p *12 

933 9.0 9-5 1.6 

(A) 9*0 Win 

456 35 310 Pi; «’S 

9)5 9)7 9.0 9-,) 
?«.’ 9.0 Hfcft 
64 310 9i= 9)1 *17 
9*5 9-7 960 S?S 

?ao 

454 -•* 


436 3) 110 R7B 912 
9): 9-0 9-5 9.7 
HO 980 
317 .*«» 


1S9 710 91= 9J! ®3? 
9*) 9.7 HO 965 
9.1.1 

LIU » 1 15 210 425 
Mu 91) -»5S »j 7 
9*0 Hi 960 i£ll 
6 - “• 


6- J5 210 CO 912 
9)5 9J7 940 915 
9»0 9(0 

M 118 3Z0 42S 220 


SWPSO*-SEA(J Are .CO 
9. ?S 1/ 8/19(1 
TEXASGI1F CANADA 

9-50 IV *11982 

TE3ASCTLF CANAPA 

I0.no IV 6/19(6 
TOMno-wsasiOK ha.sc 
S-00 1/ 4/1*02 

TOBOHTO-OatenMi BARK 
9.75 I/M/1981 

TOi« OF MONTREAL EAST 
9.75 IS/ 7/198; 
JZADEM CKKP 

9.75 13/ 3/1982 

TEAKS PNIOH n> TCU ADA] 

10-50 1/12 / 1960 

DVT OK CARBIDE OF CANADA 

9.25 1/ 5/19*2 

WHW OUlbZPE OF CAKADA 
9-75 V 5/1966 
ECBOOTTLOEPS 


7 JO 1/10/19(4 

AZEO 

10-00 1/10/1981 

ALCEHENE (ASK 

*■00 i/w;i?7? 

ALU SKENE BANK 

*-=5 1/ 5/19(0 

ALCBHESK (AKK 

6.25 15/ 5/X9A3 
AUEHEKE SAM. 

7.=5 If “/WOO 

JOCBKBSS BAST. 

9.50 15/ -5/1979 

ALCEKEKE SANK 

9.30 1/ 2/1960 

AZCEMSn BASK 

10.00 1/1I/1J79 

AICESCNE BARK 

10.50 1/10/1970 

ALCETI9SE nrr 

8.25 li/ 3/1983 

ISO USE 

6.25 15/ 3/1980 

4HB0 BASF. 

7.LS 1/ 2/19(0 

AMO RAJ-T 

9-50 1/ 6/137? 

ilBO BAKE 

>•78 18/12/1579 


£.72, 8.82 9.36 
4.26 9-25 9.59 
2.38 9-15 9.44 
3. SB 9.3B 9-65 


9.51 

30 


SP 


218 


100.00 

1°«2 


LZ 



*.22 

30 


SP 


=15 

*** 

100.00 

l“«l 


1= 



*.58 

30 

1.50 



218 


100-00 

1165 

1M2 

LX 



6.P“ 

30 

3-00 


EC 

218 


100-00 

1984 

1961 

LZ 





CP 

m 

« 

2in 




LS 



937 







960 




HP 

ED 

£4 

• J5 




LS 



935 







9*7 





ro 

218 





LI 



935 

9.27 

30 


SP 


218 

9*6 

100.00 

1381 


u 


935 


100 1/4 2.26 9.33 9.4S 
100 1/8 3.09 9.44 9-43 

100 5/8 5.17 9.58 9.6? 

101 1/2 4.04 9-04 9.36 

102 3/8 8*04 9.56 9.77 

6.24 9.48 

99 5/8 2-B« 9.10 9:03 

101 1/4 3.42 9.27 9.63 
97 3/B 4.13 10.55 10.01 

100 1/8 3-79 9.68 9-74 

100 3/8 2-31 10.26 (0.46 
lot 1/8 3.92 8.89 9-13 

102 3/8 7.92 9-31 9.32 

6.45 9-2S 

99 1/4 6.34 7.64 7.36 

105 5/8 3-34 7.98 9.47 

99 7/8 1.34 6.07 6JJ1 

■84 6.16 

100 5/8 1.92 S-M 6.21 

(.42 5.(0 

99 1/8 4.96 6-46 6.31 

102 3/B. 1-68 5.69 7(08 
1.13 5.03 

10S .96 6.17 9-22 


X -A4 
1M1 PFI977 
30 

mi 


>70 912 939 
945 94/ 960 

210 870 912 
*37 940 9U 
960 960 
£10 870 911 
937 940 945 
947 960 980 
210 870 912 
937 940 945 
960 980 
870 912 945- 
960 9(8 
=10 970 9)2 
“37 »W 941 
947 960 -9(0 


X 

14(1 

» 1.51 

1981 DP 19 78 


1.68 5.69 7.08 
1.13 5.03 


•96 6.17 9-22 

1.68 5.98 9.02 

X.Sl 6.95 9-60 

1.34 6-32 9.99 

4.7S 8.37 7.(7 

1.79 4.(2 6.11 
1-25 4.26 

1.63 5.6 L 7.0T 
1.16 5-00 

X.01 6.43 9.23 
1.53 6.62 9.34 


PC ED 4 55 *** 

LX 

re ED 456 *** 

LZ 

MP ED 456 *“** 

LX 

ED BO 656 «**' 

LX 

KP EO >8 912 945 980 

KP 2B 77 =30 425 912 939 
14 937 945 446 360 

■ 965 '-98ft 

re 31 32S 210 912 945 9*7 
“ . 465 980 .. 

re HJ *56 ***■ ■ 

LX 

PD EO 456 **4 


® 600 601 -604 
IS 607 608 609 
0 611 910 
U 601 604 60S 
6 607 608 609 
0 All 410 
0 601 604 (os 
6 607 608 609 
0 611 910 ■ 

0 601 404 MS 
* 607 60* *09 
D *11 910 

1 605 606 l - 

0 601 604 io5 

6 607 608 (09 
0.611=910- •• 
a *01 604 60S 
6 607 60* 60* 

D 611 910 - 

J 601 604 605 
6 607 608 609 
5 6U 910 
D 601 604 60S . 
) 607 60S (09 
S tu 920-V . 
9 601 604 60S . 

) 607.608 6Q9 
? (1/ MO 
> 601 604 605 
I" btrr £08 609 

1 611 8)0 91Q: 

) 601 604 *05 

i £07-(08 £10 
410 

1 601 MX *05 ’• 
1 *C5 bQH 609.. 

1 all 910 
1 Ml ftM - AW -’ 

1 607 SHU 600 ' 
1 611 *10 
I 101 604 : gttf - 
607 608 £09 1 
1 611 910 





















^ Times Monday June . 12 197 



^ 1. 
t 5 j 4*1 

1-5 I ip 
! < 

hislS 

s 

5. 

m 

MapilT Sc 

2r 

SlU 

3y 

tnte 

BORPO'.YcB/ 


MAKERS r2 


CSL'PONMATCRiTY 

s r.*f 

5 65 

< i n 



5:3 

«s 


’iS 

i-ii 


7S.0D 


!:a 

■j-a 


st; 


:r? 


M 


i--.; 


-:i 

: :s 

’-■j 



Si 


_ *<2 1 _ 

- 5=1 £ 


1 uJ -j , ^ u i“ 
i “■ 5? ! 5 > ■ Z 
*1 T» . * < I UJ 

$:*sl tf 


■'S„ 

«■ _j 


-7 a iu : 

> </>_, t; si I 

So ' “ — '5 w 1 2 I e j 

■«-’= 'Sf ? S .5 • HS 

p ;= s 

e-J - - -fi_ riw : 3 ? 

s| i|= ; i : S I~ : f { 


MiR/rr 

f.'AKiKS 


T"5nC77UirtS v ro;.-!:’' 


1971 K.L.S. 

m.j :.:s u/i.vua 


50-00 



99.25 

8.75 

49.90 


a. no 

' 99*30 

3.75 

40.00 


20.00 

39.30 - 

6.00 

75. M 

1978* liny HM 
100.00 7.00 

75.00 

•1977 Unr m* 


100. w 

7-75 

60.00 

1*7? BANK HUES 
99.75 8. a 

4c.ro 

1974 B4XE MEES 
IDO -00 : ' 13-00 

40.00 

19 7 A 1UHBS 


30.00 TOOaM -; 6.00 U 9/1979 

197? OUT OP (HU 
99^0 B-23 U 7/!982 


75.00 

. 75.00 
100.00 


1976 cm or OSLO 
1B0.00 8.15 1/ 1/J964 


iS& C 0 **^TS5* iTH i7 105 7/8 


■>!1 


S'S .1*” WBajuamu tom 
20-00 100.00 6.50 1 J 5/1960 

?S'S .U’LtumntOF BMK 

15.00 100.00 6-20 15/ 6/1979 

■ H.ob 197? dutch state hikes 

99 JO 9.25 i j ;/]i||2 

' *®.w 1976 tttSTS ism CWTEKT 

40.00 99.50 8.50 u/ 4/i9 BJ 


1.91 6-00 (.44* 
1-0 SM 


1.04 5.10 6.41 
.56 A. 12 


7. SC 
19'i 


3-M 6.98 Ml 


4.88 7.57 ■ 8-20 
3.38 ;-:fi 


SWO- 1972 ZHXUf 
12-50 100.00 6.50 


10. ’"3 

1*10 


?u 
ii :-:j 


50-00 

25-00 


1972 anorixA 
99.75 5.75 


.30.00 1972 aroma 

12.30 100.00 7-00 


50.00 1975 mOTTXA. 

99.75 8. 10 



■*4 7JS (-H 


11.50 

19.'6 


I-IS S.M 5.77 
.76 6.29 


l:.-n 

19’6 


60.00 


1976 EQURAB COAL -4 STEEL 
99-75 8.00 15/ 2/1583 


.68 4.34 6.97 
3.92 6.67 1.01 
4.72 6.96 7.69 


12. M 

1776 


■2S"S5 -I* 7 * E0MPtVS XHTBSIttWr BAKE 100 
50.00 100.00 6.00 15/ 9/19BS 


4-30 5.99 £-60 
3-30 5. 98 


10.30 

■1978 


75.00 

75-00 

=‘.73-00 

50-00 


1976 BUST BAH QITESTKEHT BASK 104 2/8 
»-73 8-00 15/ 4/1983 


1977 ‘ EDK0FEAN Umi H U T BASX 104 
100.00 8.00 IS/ 2/1984 


1975 WBOPKAS ISVMWESiT BAKE 106 7/8 
100.00 9-00 1/ 3/(962 


197* KJSDFEAN EtVESTHWT BASE 103 
99.50 9.50 1/ 6/1979 


4-88 6-91 7.66 
5.72 7.11 7.69 
3.75 6.84 8-62 
X-01 6.32 9.22 


276 Mn Hi-.; to. 

Mb -2' r.7* ui) 
41'. -.11 sir. 

238 *’.! 60, i*'. 

6I> Bfi: Min t."J 
4ii mi “la 
22} <.*fl o0| Aik a A-, 
*>l i'JJ ■ >W 
hK. O', <-(l All 

238 - A'. »9t W'4 

' i.n-. oDk ..ft? Ans 

MM Ain 611 am 

237 Ann >ni a»u 
o-Vi -il? A"fl f-ij 
f in b ! I 4|f| 

258 600 »rn ADj r,D5 
AM AO 7 ntlfl 079 
All Cl *!•_< 

1*5 Aon «ni ai>4 a ns 
606 607 60* TO? 
MO tu 410 
2(5 <PQ on I *0. MIS 
GOA A"’ 60s »nj 

613 AH «in 

2A5 600 oOj Ado 6 'iB 
410 

245 (00 601 SftA 60S 
60*. r.07 bAA A/4 
610 AH 870 "19 
2(5 (no oOl '.fiu „(.5 

C 1 * (01 iM TO, 

610 til "Hi 

245 6 no b 01 604 AOS 

606 *i” diiA .09 
6ia mi 4)o 
2(5 600 nD! »0A AOS 
60* *0? «t>8 TO? 
610 611 «10 

238 400 601 *04 AOS 
MV. TO# TO* (N 
610 til 910 

237 «n 601 60* 60S 

e% TO; 60( *09 
610 (ill 0)0 

237 40n TO! bftl 60S 

TOO 607 AW *00 
Bid all *70 *10 

236 400 601 *01 ■>"* 
6Db 607 bn* biis 
610 OIL *10 

239 e« ADI *0* *05 
M* 607 (Cl 609 
bin Ml 910 

237 600 601 6QC A 05 

606 607 MIR M)4 
610 All "10 

238 600 *0! «0- 405 
AA* *0 7 *04 IM 
(in *n do 
tQl *04 605 hBA 

607 608 609 «10 
All RID 

227 *00 *D1 *04 60S 
bOb 607 b08 609 
610 611 «10 
338 600 *01 604 MIS 
606 »0? bOP 609 
610 611 910 
338 MH> 60! 604 605 
606 407 *ng 609 
610 bit 910 
231 600 601 604 60S 
606 607 608 609 
MO 611 910 
2 38 6Q0 601 604 605 
606 *07 60S 409 
610 611.910 
87 m 238 600 6"1 60( 601 
8(1 606 407 60S 609 

610 Ml 910. 

■SP FIT 238 600 601 A 04 6 05 


19 :r* nrspflH or sum? 
n.rs 6.:o' :: a/wj 

ini:« nxcw or shwvit 
?9.S0 6.75 


»«77 xnnpM or spp.'.'at 
94.00 :.:s l *. :ss: 


19/5 CKfiW Dr S884W 

j«.;S 8.w ir* :{/:*«» 


•976 siawKw or iwbw 

9?.;g S-10 11/ 7/1931 


A*, fin 
13.00 


J*7J HICBTLIH 
94*50 6.30 


15/ 1*1979 


1974 ran a maoBsrmssMX 
99.00 9.30 1/ 7/1*79 


99.30 9-50 15/ 2i I960 


i«7( WBauwaiSE ca^tte 

9R.50 9.7S 1/ .VI’™ 


1974 HOKES MBM7KC3WE 
99.-J 7.75 1/ 4/1481 


*.?« IS/ 5( 1*65 


94.59 


7.25 


8/ 1982 


100.00 


1/ 2/1*80 


8D.M 
15. uO 


1971 FHU.Tr MORRIS 
100.00 7-50 1/11/1978 


ino.or 

50.00 


i<72 rmirs uvs 
99-50 4.00 1/ 8/1979 


jt a 
to 


»r tr 


■7 


cc n 
IQ 


NT EO 


CT ED 

rq 


KP EO 
pq 


4P ED 

cq 




Y9 HJ 

rg 


K> ZD 
00 


50.00 1973 corowrerr or mautsu 

■37-50 JOO-OO 6.75 ISf 6.’ I960 


.50-00 3972 covrrr n.c.) 

1>-00 100.00 . 6.50 1/11/1979 


' -60.00 1972 con. OF SZB ZEALAND 

15.00 100.00 6.;s 15/ 4/1979 


.60.00 

15.00 


1971- COVT- or ns ZEALAHO 
99.50 . 7-50 15/ 9/1978 


75-00 

?5-00 

75.00 


1977 C07T- OF HE? ZEALAKD 
99.15 . 8.00 1/ 3/1963 


1979 eon. car ns zkalabc 

100.00 . 8.25 13/11/1991 


1*75 OOVT. OF KEH ZZALASD 
99-00 94)0 1/ 3/1962 


60-00 

.15100 


1972 BAHMSLZT ITT* FTN 
99.S0 6.75 1/ 3/1979 


; 60.00 1972 HOUDAT ms 

lS-'OO 100.00 *.50 1/ 5/1979 


•'30.00 1972 80LLAHP AHESICA LOTCS 

-1340 300.00 6.25 15/ 8/1979 


50.00 1972 2SC01L 

. 25 -HO . 100- DO 6.50 






15/10/1979 

50*00 1973 . UHZXAEAJdb-HUIMA 

L - 89.75 ...8^. U 5/1980 

75*00 ' -3972 

2V8/W79 


98 5/8 

99 5/8 

100 7/8 
■IPO 3/3 
104 3/4 
IDS 1/2, 
107 1/2 

101 1/8 

100 3/8 

9* 1/2 
99 3/8 
103 3/A 
99 7/8 


2.04 7.50 6.14 

1.04 8.17 


1.42 6.75 6.52 
•92 4.93 


•88 5.18 6.20 
6.00 7.47 

6.75 6.79 744'.' 
3.46 6.41 7-82 

3.75 6.6C-8-37 
•75 5.14 6.67 
•92 6.05 6.(8 


604 607 60S 609 
610 611 9J0 
258 600 601 606 60S 
606 607 608 6P9 
610 611 110 
23B 600 601 bOI 60S 
606 607 606 609 
610 Ml 910 
238 tOO 601 BO* 60S- 
606 607 408 609 
610 611 910 
12-5D N> U 237 600 601 604 605 
UP 6D6 607 60S 609 

AID bU 910 

K ED 2(5 A 00 601 604 605 
I'Q bOb 607 406 b09 

610 611 910 

KF ED 238 600 (01 604 605 


K9 ED 

uq 


1517 


7.50 

1976 


15.00 

1976 


pq 


15. DO 
1973 


5P EO 
uq 


KF ED 

liq 


K> ED 

uq 


15.00 

1974 


*e to 
uq 


13.00 

1976 


l-q 


1.21 6.66 6.28 
.71 7.03 


7.50 

19?» 


UP CH 
Uq 


1.36 6-95 6.14 
■68 7.26 




.17.50 

-1976 


cs nr 
oq 


1.92 7.08 8.92 


HC ZD 

wr 


1-21 c.oi tf.oi 
•71 (.21 


BORROWER/ 
COUPON MATURITY 


-Itf 




?«r 

2> 

Sp-f 



NABKET 

MAKtnS 


mo units or account (contixtcm 


10-00 

5.00 

5-00 

.50 


. 25, DO. 


20-00 


ns 

138 1/2 
106 1/4 
112 3/8 


■ 15.00 
15-00 
25*00. 
19 -DO 


98 3/4- 14*85 7.20 
10-35 1 -26 
136 2/4 5-07 U.OJ 10.35 
4 *-26 16.33 

102 3/8 14 -M . 7-54 7-62 
7.66. 7-43 

155 . 4.65 11.97 7-32 

2.74 17.74 


136 1/2 7.79 12.79 10.21 
4-49 15-59 


1984 CBEAHX COPEOUCK 

98- 00 5.625 15/ 4/1984 

.1943 2KAT1AH VOUfA. _ 

97.00 - 4-00 1 M 7/1978 

. i977*.TKATRAK WHHA • ' 

100.15 . 8J0 »/ 6/1987 

■1975 .Bttiwi 'yOWA • 

'■ 99. 79* ' .9-75 25/ .3/(985 

iRTA^ aowniiL BAHt-nsLAim 
100.00 .7-00 5/ V 1993 

i97i nsGWH oronBAipc 

99- 50 -84)0 g / 6/1996 - 

i; .00 "T 7978* ff*— ihi-*— ‘ hufimhw 

. 12.00- ioo. DO '7.75 . 25/ 1/199? 

Jjr.BB.. 1963. OTWE8 xounuuusx . 

4.72 .'99^10 '.5*50 .'.IB/ 1/1983 

• 15-w 497i wsms rosrwLaAn 

•■'• 10.70 98-75 ;.75 15/ 3/1996 

20.00 JS74 IECHLSTT TOTHS ZOSUttSH 104 7/8 10-73 

•18.50- *98.00- . 8-75,-. 22/ 2/IJ89 

15. DO . 1969 . UBJT1W3 0T MAS1TO6V 
10.50 ' - 97*00.:. 7-00 27/ 6/1*89 

I2-IJ0 - 1970-’ HB7IMCC OP HUTITOBA 

. r-W 100.00,--' 9.00-J6A3/1982- 
•■30.00 2975 rionsra oF.wunwai 

-28.70 100.00;. . 9-25 B/12/B85 

. fi5(l 1966' HSPSOZS ffOmTOT 
l:IS 9B-00 6-00 =5/ 2/-W30 1 

A-‘ 11.80 ■. 1968 EZZD F6E8R.-6RWF ' .' 

' 6-DO -98.50 , 6.75 -13/40/1983 1 

72.00 1973 'ZKFOBLIC. OZ iCELA® • 

U-80 ; 100-Jjff '. "*.M i ‘ 24/(0/ 19SS \_ 

■ 15-00 5976 REPUBLIC OF ICEtASD ■ 

• jjjjo J90 -ffl) t R-25- Ml 2/1983 " 

12.00 1*76' ZEFOItTO OT IBURj ' 

. 2BO.OQ ; I' 9.25 ",36/ 7/1988 

. 12.00 ■■ 1974 ZtromC-OT. K2LAS7 
99 JO -20/12/1994 

'-33g-22.**i$S*3IV& 

28-tm. "is 70 *sFB5Cic-or saczH^MaxcA.xsc 
14^00, >98*00 ' ■-# J5‘ 30/12/1982 
12-Sd' -1971 . f jl.S^ v ' : B*SCS ' • 

-7*20 160 JX) . .2IJJ0.' 8/7/1966 

22 -DO ' J97S.’ 8 '■HSifiT-.B 

a.00 100-00 ■ ■ 9-23 . IV 12/1965 


5.88 11.71 
3-SA 15-12 
-13657 J5 


9-06 7.(2 
6.82 7-49 


7.49 

7-79 

8.05 


1AMT 

1979 


172 
1970 
. -SO 
19*9 

i.a 

TF19S0 


m>. zo 

IKU 


230 115 SIO 
35 IIS 520 


KB- 

UC - 

a ED 230 UJ 510 320 745 

U 


8.73 


l-oa CC a 230.145 510 320 745 
FF197B a 


7.13 


8-39 


8.41 


8-13 
7-39 7.96 

136 ill 11-05 ID. FA 9*22 
5-98 13-04 -. 

136 3/4J 3-7* IB-23 11.83 
2-93 20.6/ 

110 5/8 7.53 7.46 
■ 5-39 6.96 
1.74 25.34 *-09 
1.24 JJ-bA 
135 3/4 5-3B 13-40 
2.88' IB-Ai 
10.10 " 6.00 
•7-91.. 7i90 . 

2- 73 7-83 -S-78 

3- 7*' 7-53 
8.13- 7.60 8-43 


136, 


8.94 


104 


8-21 


.106 


114 3/1 

2.213 3/8 16.» 8*53 8-67 

106 1/2 4.10 7.53 . 8.74 
'-• ^ -2.85 ■ 6.92 . 

9.17 


107. 


4.10 . 7.53 
-2-8S 6.92 
6*04 . BJ6 
4.74 8-09 
4.59 16-71 U *51 
2.83- 20.9* - 
136 1/2 . 6.i0 12-96 10-54 
-4.10 J6.52 

7 .88 8-61 
7.54' 

W77 1/2 8.91.8.18 i-H 
. ' 5.69 7-W 
136 1/2 7.J2 12.7? 10-21 
. .4 Jb 15-12 ■ 


108.. 1/8 -7.JJ- 


• *.w : iR« VtVi «.m u-w 10.54 

■3.53 ■Sfli00 : '.'-l"!8-00 ■ 10/22/1*84-'--: .. 4*36 15*71 

■in.wi ia73~ STAWiAKB ■ BU nr IWIASA , -104 1/8 10-3N 7.4* ” ” 

iw-oo :TTS; WWW* ■ *•». 7 **° 


7.73 


’ > • 'IZBfca. *»**=:•' *’ 


111 4/4- '/*»'. 7 .30. 8-36 
9*3S 


1» 


6.04 13.07 
3-04 IB. 10 




y.'99 7/e'4*f3 TOM IBM 
3.«p 10-03. 

' BOl/6 9*46 10.96 J.3S 
.. 6.92 11116 

-iS 3A 8.92',9^». 8.73 


■SSiiM-^jemK^.^^mSS 5 :“ 


irlm m*a> Tr*s*c :.^t V»«7 * ■< ^ 

««*»> - 77 5/2 9.34. UM. 9M 


200.00 ■ T * 7 *' ..' - 

T94JH7 JO0-.OD- y- . 

*DB-nM«nt.Hi 

"3/12/1380 


-94-op ; 

1317-00 ' 1SOJ. 

• uxkts-- 


5.67.0,32 



i.7Siio.:o 




- .6vi7.11.97 


123.00 
lOff-25 • 
80-00 


iSSaTifr.s -27/-3/1932 

iJS^jSSSsyiff.’ 


1 T.$* 

>0 

102.00 

1?8S 

’ 101.75 

*fC 

1979 


W 

102.50 

1983 

iw.ro 

I80C 

1*79 

' 102.00 

UPC 

1*79 

1 7.02 

*n 

104-00 

IfS 

t 

102.25 

*0 

1*50 

1 

100.73 

*HC 

1979 

5.91 

jn 

102.50 

I9t0 

1 

100.50 

l.'JT 

lb?* 

' 102.00 

•nc 

!*.'* 

7.23 


102.fi) 

1»7J 

1 2. *8 

W 

101.00 

1979 

l 4.8* 

75 

101.25 


' 7.(» 

30 

102.00 

1984 


30C 

102.00 

1978 

’ T.77 

120C 

101-50 

IHt 


170 

ioi. a 

1*78 

1 102.00 

*« 

1979 


70 

103.00 




102-00 

1*79 

101.75 

1?0 

1*79 

101.30 

ooc 

1978 


X 

102.00 

1979 


9<X 

102.30 

1979 

9 

» 

102 . 25 

1978 : 

30 

979 1974 LX 


to 

102.23 

1978 J 


60 

102.23 

1978 1 

' X 


M 

100.50 

19601 


90 

101*30 

1979 

-MJ.a 

75 

1978 


90 

.101.75 

19(0 


45 

loi.oo 

19/9 


1- 50 ec ED 230 115 520 
1?W 1Z 

2- 00 MP.B7 230 1X5 52* 
1975. IX . 

272 113 510 S20 


■» ,n w 

U78 IX- 


.83 CC HH 230 115 320 

19t7. UU 

l.IO . BSZD 230 2J3 520 
1974 T3L . 

.70 rc : ar . m3 us yw 215 510 

JP75 It 510 


• 75 SF ED 230 115 520 
1970 UUt 


-W 

1971. 


WXD 230 115 520 
4IU 


l.TO W ED 230 115 510 520 


■ 71 ZC til 230 115 520 
196*. im--- 
1-00 W rn 230 115 520 
1*d9 <4KX 

' kr ED 1D3 115 520 
1974 u: 

.52. Or to m us its sio 520 


1919 UC - 
• ■75 .vr iv. 103115 510 320 


■' W TO 103 115 510 520 

J .. LX 

S-it 1 HP ED 230 115 310 520 

JK«^U .. . 

i-oo mKr 230 iu.no 520 

IRW Lt ' 

2.00 ■ NT' 10 230 US 520 
1*71 LX 

11? 113 320 


.88:. BO E0 

U72.-1X ' 

2-M . -TO ZO 
1980; UL .-• 

2-08: CE TO 

»» W “ 
iK SC BI 
1972 ,U.. 

.46 ,« n ,230 115 320 
1970- IX 

.80 Web 4ss lU Slo 'sM 


117 115 205 215 510 
' 520 

92 175 MS 215 510 

. 5“ . 

10) 115 520 


1.75'jXP IS "230 113 215 510 530 

rri97* -ivix: 


j.» ‘ip nr 

1970.-KI -.- 


3S 115 520 


13.M. 0CW 131 no 215 220 5» 
H78-1X---. 


< •» K B lfl3 210 215 220 520 

»9»-l*., ..... 

9} 205 210 225 220 


4.D8- K TO 

.Mo/. 

2-00 -*P 25 -103 210. 215 220 510 


*■»/ JO B JO? 210 213 XtO 


- - TO BL- 56 205 210 213 3 SO 
■: . Ut-.? .320 . 

*-80; -CC S* :.9S 305 310 315 2a. 


lOO'l/l^ljB .10*15 10*34- 


186.00' 


—.low, 


50J 7 * W) w 

as-fe-TsrsMS-. 

5£g.isa?!SS B S'«^ 


^v^sass 


1979 
60C 

101.373 19« 
90C 


2.00- W=W "SJ £10 215 210 
1173 U • 

3.0fr*jff:ra' - 303 JD5 UO 315 ao 

iro.iaho- ■ J 20 

2-50. IF ZD lflj<205 210 2U 220 

ISIS' Tx : . -5M -■-.. 

8-75 ^cc JIT. 105.305 310 2U 220 
1976: LX 330 ■ 

’ war « awrao ns 220 

-. . . EC.-.. 520 • 

rJO-OOTS • 96 205 BO 215 226 
"7 . 330 715 

12*60, 0, 1C . 10? 2D5 210 U5 220 
1975 -.^i . 3a 

9 DC 15-00.0 nr 112.205' 210 215 226 
- 1978 1*„ ; ■ s» 

I5.00. xr TO 112 205 ZU 115 2» 
.. JM 


60 


30 

1978 


S:S *•" n“:S .55 

60 


2.U VF-TO 1X2 205 >10 2U 320 
1978 ; ,U : 520 


-*•“**■ »> 2J« ■ 

fit ?*SS.:S 





5.00 .'urTO' M 205-U0 2» 320 
1977 1*. ., . 520' ■ . 

®*Z£.»W M8 205 210 213 220 

5» 

IU BS210 2U 220 
320 . 

4401HP.TO IBS 205 310 215 220 

520 

TO 1A5 '90S 210' 115 220 

19(9 uom s» . 

2.S0; TO.TO 1»S 203 310 315 330 

— -- , 

MS 2li US 220 
53# : 




73.00 

75.00 

75.00 

30.00 
60470 

40.00 


1*76 FBTLTF5 I1»S 
100.00 7.73 13/ 5/1951 


l*7S nun’s LAMPS 
10O.M 8.25 1/10/19*1 


1*74 PHILIPS LAMPS 
100.ro J.3D 1/ 1/1980 


1974 PHILIPS LAMPS 

99- ‘0 10-75 15/ 10/ 1979 


99.15 10.00 1/ 10/ US l 


-50.00 

60-00 


1974 PAEOPArE 
99.30 10.75 


15/11/! 979 


1975 RAKE KTPOX HQUIINCS 
99.25 9-25 15/ 3/l«El 


30-00 

15-00 


1972 SIC 106 AL DC* TOT® 
99-50 6 -a 1/ 9/ 197* 


75-00 

70.00 
75-00 

50.00 


1977* REPUBLIC OF AUSTRIA 
99.75 7.25 15/11/19(4 


1*73 REPUBLIC Or AUSTRIA 
100.00 8-23 13/ 7/1982 


7*75 BEimie or aostula 
100-00 9-25 1/ 3/I9B2 


1974 REPUBLIC OF IRELAND 
99.00 io.a tfii:/i*79 


101 3/8 

.55 

4.95 7.15 

99 1/2 

A. 84 

t-AZ 6-53 

xro i/s 

4.34 

«.a 6.74 

132 3/4 

3.64 

6.93 7.M 

103 3, 4 

2.46 

(.26 7.n 

IM J/3 

3.13 

6.36 843 

1C! 1/8 

.79 

£.98 6-13 

103 1/2 

1.09 

£.03 f.l> 

194 1/2 

1.72 

(.39 1.M 

703 3/8 

! .09 

(.41 J"*> 

102 3/4 

2.84 

6.(4 7*54 

: 9» 1/6 

8.94 

6.83 t-U 

: in i 3 , -a 

4.17 

6.73 74) 


l.tB 

i-U »■» 

IPO 3/B 

•42 

6-A2 -7.47 

9* 7/8 

1.17 
• i? 

«.Q9 A.OI 

(.73 

104 1/4 

2-9* 

£.13 7-43 

104 J/8 

3.34 

£.44 7-69 

104 7/8 

1.39 

i.U 9.06 

XOS 5/8 

1.36 

(.29 13.18 

! 10! 3/8 

4.01 

6.U 7.13 

: IBB 

3-34 

7.19 9-26 

10! 7/8 

1.46 

6.32 IMS 

in* 2/4 

2.79 

6.70 8-7X 

99 3/4 

1.26 

.7b 

6.43 6-27 
b-61 

101 3/8 

6.16 

6.92 7.U 

10A 3/B 

4.13 

6.91 7.H 

107 1/4 

3.75 

(.57 8-62 

"104 3/8 

1.55 

(.92 9-80 


r: ed 

Tfi* TO 


157 6S0 6'-! 

67b b- * 


*37 6-» 
t 1 ' 


A1 


S» CZ 127 : 


22T 60T' An; 
6"-^ n*7 
*13 nil 
£37 T-S 


I'.'v 

ll.-A 


1‘0 


K? re 
uq 


cq 


r; 


V- E3 

L-i 


m to 
tr 

r-~ EU 


t:i til 
mt '.-;a f-v. 
j--- «r? 
v* ah 

U7 C-J 7-i 
tlw rj m 
4.1 Ml 

is: m 

6Ci C,37 
t:c bii 
249 617) 431 
67b 637 
t 11 i!l 
247 6*1 601 
606 607 
610 4l> 
237 M3 6C I 
6C! tor 
613 611 
SB 6 O'! «C( 
60b 077 

flfl *H 
£13 631 *03 


vp re 
iq 

ra re 


uq 


v? rr 

i'7 


r? j; 
c.- 

K7 TO 
IP 

t? n: 


K TO 
Vl 


7.-.1 
19 :<a 


l-q 

T.r CT 


•c? re 

cq 


s? to 

CO 


45.00 

11.25 


1971 REPUBLIC Of S0CT1N AfTia 99 J/8 
99 .25 7.50 13/ f/1911 


.30 8-62 7.J3 


IMS 

1975 


?.* TO 

I'Q 


75 JO 
60-00 


1974 SJ.c.T. 

100.00 7.75 13/ 6/19B1 


1975 s.v-e.r. 

100-00 9.00 15/ 4/1981 


60-00 

45-00 


1973 5C8TEPT7ART TOC 
iOO.OO b. 73 13/ 7/1910 


1977 EQ1EEFVAU7 TOE 
100.00 ' (-13 J/ 4/1992 


(06 607 608 609 
,610 611 410 
238 600 bOI 604 605 
607 MM 609 610 
611 910 

238 GOO bOI (04 £05 
£06 607 608 604 
(10 611 870 910 
HP ED 238 600 601 (04 605 
606 6D7 608 609 
610 611 *10 
238 600 601 604 605 
(06 607 608 609 
olO 6M *10 
a* MM 601 M14 60J 
A Ob 607 608 609 
610 bll *10 
PC ID 23S 600 bOI 604 605 
b(>6 607 60S bO* 
blO 611 910 
245 bOO o0l MW 60S 
«06 607 608 609 
610 611 910 
237 60U 6Ml MW 605 
606 607 60S 609 
blO 611 910 
237 600 601 604 605 
606 607 608 609 
610 611 *10 
037 600 £01 604 505 
-. 60S m (OB 409 
610 611 910 


80.00 1975 5CmPV«AET TOC 

10U-00 8-75 1/ 6/1*81 


1*75 SOT 
99.50 9-50 


ll 3/1980 


60.00 

30-00 


1972 SLATER VALUE* 

100.00 6.2S 15/ 7/1979 


103 t/B 
107* 1/8 
99 7/S 
102 1/2 
103 I’B 
10i 5/8 
99 3/8 


3.14 C.3E 7.52 


CC TO 
7} 


I.PB 6.21 8.40 


ri a 
LQ 


2.11 

1. 13 


6- SO £.76 

6. n 


297/ 


KF 7Z 


3.84 

3.01 

1.75 


7.46 8 '03, 
7.55 8.48 
6.59 9.08 


vp a 
uq 


77 TO 
CQ 


SIP W 

cq 


1-13 

.63 


6.82 6.29 
7.37 


!S."0 

!«.-S 


PC TO 
L.J 


50.00 

25-00 


197] BOOTH EDUPE4K FIFELTSK 101 3/4 
99-:0 7.23 15/ 2/19SO 


1.72 

1.22 


6.11 7.13 
5.72 


I2.ro 

19" 


rq 


60.00 

15.00 


1972 SFER1? PAW 
100.00 6.50 J/ 4/1979 


50.00 

13.00 


1*72 STANDARD MIAKDS 
100.00 e. JO ill I.M97J 


1*76 SUCIltSF E2F0RT CREDIT 
99-75 8.25 1/ ./l-Ml 


!D1 1/4 
100 

105 :/■ 


.84 4.9 1 6.42 


15.00 

]«•* 


PC TO 
10 


1-52 


6.44 6. SO 

6-50 


!2-'0 

iCb 


5F TO 


1*73 StWiSS ZnTfTHBT MX 707 1/2 
100.00 9.U 1/ 4/I9B2 


4.6i 

J-£4 


6.96 7.U 
£.94 £.£0 


rr to 

i-- 


co 


60-00 

30.00 

30.00 

15.00 


!9«2 TELESTNE 
99.75 6.25 1/ 8/1*79 

!«T2 TZHTW.- ATLANTIC 
100.00 6.75 15/ 11/1979 


60.00 


1975 TO6SIS TSVENTMCrr 
99.50 8.50 15/ 5/ 1912 


99 1/2 
100 J/8 
106 


1.17 

.67 


6.6* 6.28 
7.n* 


1.46 

.96 


£.42 6.7/ 
6-61 


*.W 

1»"7 

r.'i 

19 lb 


n to 
K- 

*o re 
uq 


218 600 60! 
bC* 607 
6M «H 
U8 a 00 »JI 
eOb e07 
bin bl! 
TO7 60S HO’, 
ms M.7 
• 10 “11 
23S e:a >01 
60s >07 
6!0 b!l 

as X0O 6D1 
60s b07 
610 bl! 
228 7(0 601 
6 Cb £07 
619 611 
£38 rCO «0I 
•Ov *;? 

6io m: 

228 bC i b’l 
e<V. >07 
61J HO 
b;q ft r ( ; 
»06 «.*: 

610 bll 

::i £wi *.=! 
•4b >07 
4W 

343 6-0 sot 

bCt 407 
bl) bl! 
U7 600 brtl 
606 60 1 
mo mi 

245 400 Mil 
(06 607 

611 61! 
22B 600 (ill 

606 bOP 

6i! b 10 

239 600 60! 
6M 606 
611 911 
237 bOO bOI 
606 608 
61! 910 
U7 600 6)1 

607 (Of 
All 910 

2J8 600 601 
404 6'=’ 
bll 910 
24 5 600 601 
v;» bt> 
tin b’I 
2-S bCO 40! 
•Os 637 
blO 611 

237 6C0 Ml 
AP6 607 
MO bl! 

23B >00 >01 
60s 607 
610 oil 
215 600 60 L 
606 bD7 
410 611 

238 sOO 601 
60s 607 
610 bll 

ai 600 601 

606 607 
610 Ml 
237 600 601 
(06 607 
610 bll 
UB 600 >0! 

bOb si)7 

610 bll 

:js boo sn i 

4« ‘07 

me 6ii 

237 600 -.1! 
bOb 607 
All til 

22 3 r 00 i.O; 
•07 i»06 

611 9 10 
237 601 607 


604 <0J 
■08 609 


604 605 
4 RS 609 
a; 0 

MW 405 
bOS t,09 
910 

604 405 
pOo 609 
914 

60* 60S 
608 60* 
HO 

604 «05 
608 609 
*10 

604 405 
bOB 609 
910 

604 605 
608 409 
*10 

604 (05 
b08 609 
*10 

hfl* 60S 
•OR 60* 
910 

60, 40? 
*4£ *09 
b|0 

60. 605 

605 >0* 
914 

f,IK, ,05 

•Os tio 


3.96 6.72 8-22 


CQ 


TO 


238 «<W KOI KO^ <05 
sOd (07 b08 609 
610 611 910 
237 bio £0I MW 60S 
6D6 607 648 b09 
679 67! 970 


9 

s fr- 
ill 

30 MfcS 


i"; I e» 
|,.Si2 

I 







u la 1 |3| 

BORROWER' 
COUPON MATURITY 

PRICE 

III 

IL 

ii 

|3 

5E 

o< 

fO 

a X 

-J Q 

l 

3 

er 

rr 

3 

si |s!i flj !§ 
s5 gflliE iii <1 
•IS 

c 2 " '*s:fe ■"§ ‘S 
i = '< = c i- 1 






*■ -'J , It! 


MARKET 

MAI1F.S 


FREKH FRANCS ICOSTITTEM 


lM.no 

l«)3 

»:->o 

10.1.00 

60 -no 

1*71 

*b.?0 

•*.V) 

75-00 

!*“2 

60.00 

"8.25 

130-W 

1*75 

100-00 

122.00 

1*72 

110.00 

100.30 

XJO-DO 

J9TJ 

100.00 

30.ro 

1975 

100.00 

100.00 

1*72 

89-00 

100-00 

100.00 

1972 

88.00 

99.25 

125.00 

1972 

t2J.ro 

100.00 

80.00 

1*72 

6b .*( 

99,00 

200.00 

I*’Z 

182-00 

99-iO 

100.00" 

1*72 

BJ.ff 

100 .50 

Bo.ro 

1971 

100.00 

60-1)0 

1*67 

20-00 

98 -JO 

100-00 

1*75 

9* .50 

50-00 

1975 


100.00 

100.00 

1973 

100.00 

99.30 

30-00 

1971 

16-00 

99.50 

200-00 

T97S 

100.00 

i2s.ro 

1*76 


uzsDm or nonuRr 
7.75 IV -.MM* 
L*AIR LlqClPC 

••26 15/10/1*11 

N0B21EAL CATHOLIC SCHOOL 
7.30 1/ 3/ 1 *P 7 

RAJI0K4LE PIS AUWPUP7M. 

1.73 1/ 7/ IM7 

VATTORALC BIS TELrcOltt 
7.50 1/ 3/19S, 

fApiras 

10.25 12/ 7/1*82 

TOUTS LAMPS . F 
J 0-25 1/ 9/1980 

PCiHT-A-wreSSJK 

7-50 1/ 8/1 "67 

F909INCZ OF SOFA SCOTIA 
7.50 15/ 7.1JS7 

nonsorr or ooibec 

7- JO 75/ b.1987 
READY Hlini CaiCPrTE 
7.75 a/10|l967 

RBKATLT 

7-73 1?/ 3/1987 

RHorF-r.xn.ac 

7.50 13/ 4/1987 

PRIWt-FClT-TOC 

10.25 30/ 4/19(0 


84 7/8 9-BB 10-U 9>13 

7.»0 10.77 

96 V8 3.38 9-J2 B-5( 

2.58 9.59 

■0 8.75 11.19 9-3B 

(.50 12.11 

100 I/G 9-09 9-94 8-74 


89 3/4 5-75 «.bl S-?p 
3.M 10. 1? 

IPO 7/8 4.13 9-» lO.Jo 


!?:-oo 
ioi.ro 
ioi-:o 
is: .-s 


75 

191* 


2.34 
!■■-- 
"0 ?.*0 
I"78 ll'l 
30C 3.’ 5 
j»7* ppi?:? 
45 6. SO 

19P0 rn?:* 


Li 

s? a 

LX 

ir re 
LF 


IV. 73 
1 0-/2 
101.00 


bO 


-aa 


100 3/8 2.26 10-01 10.21 


1978 rrijT* 

45 io.ro 

1579 FFlpJd 


LT. 

IT TO 


81 1/2 9-17 10. 7S *.:3 

5.26 12.50 

82 1/2 9.13 10.57 9>09 

6.21 11.60 

82 1/4 9.04 10.45 9.12 
5-14 11 . M 

78 3/8 9.61 11.61 9-B? 
6.69 II. 6* 

•1 1/8 8.79 1P.*5 S.PA 

b.Ii 11.67 

81 3/8 *.5P IO.B7 9.22 
• 6.17 1I.«J 

100 3/8 1-92 9-63 10.19 


101.75 

101.50 

IJ1.00 

in. :s 
:o!-'5 

:.!-q 


£0 

1978 

-■9Q 

1979 
JO 

2978 

60 

1V7H 


4-JO 

197b 


3.qn 

IP 73 
9.00 
OP (9 76 


61 


1980 


10.00 
UP197 3 
S.Off 
1?’J 


1ft’ 

FT JU 117 


20? 210 215 
320 

205 210 215 
:;o 


ROUSSEL-UCLAr 

7.00 15/12/1*79 


*6 1/2 I. S3 9.49 7-25 
1.05 1P.72 


CIS 210 215 
5^ 


5.00 

I9b8 


123.00 

130-00 

142-50 


100.00 

1*72 

99*75 


SAINT CO BATS 

10.0(1 10/11/ 1**0 
I.O.F.A-8. i 

9-75 31/ 7/19*0 

STAR EURO PEAK FIS 
8-00 15/ 6/1*8* 

FTOnSET DC1NF POHLMASN 
8-00 1/ 9/1973 

7EC8INET DCTKE RUNL9A5N 

10.00 s/- 1/1951 

motor 

10.00 10/ 2/1983 

WJRLD BANE 

7. a 13/ 4/1987 
SW1CW9W DOLLARS 


100 2.(5 9.94 10.00 

99 1/2 2.17 9.98 9.40 


73 7/ 10.0* 12.75 10-83 
i.99 U.M 




90 

1*79 


99 .26 11.85 8.08 

100 3.(0 9.96 10.00 

4.70 *.97 10.00 


JOO 


lOT.PO 
la.:? 
!CI."0 
in. 30 


1978 

30 

I960 


6.00 

J97B 

16.00 

1976 


7.T EV 92 
LX 

3C ED 103 
lo 

n re no 


:n; ::o ill 

520 

2(0 


LK 


210 2!5 US) 


» 37.90 


PC SB 103 
LX 

KP TO 92 
LX 

NT TO 112 


300.00 1*77 BOBCKOHC LAKB LKTL 

100. » 7.M 1/ b/!*R5 

SOO-OO 3977 JAM ISC HATBCStm BEMTBA 

100.00 7. a 15/ b/19A5 

ISO .00 1977 rttWIWE O* KANITUIA 

100.00 6.875 15/ mioa: 

JATAELSE TEX 




3.80 

9-SS 


ir\m' y O 

29CO 

1981 

LX 



230 

82 

1/2 

9.04 

10.32 

8.79 


60 

7.50 

KP 

TO 

112 

T05 



3.57 

11.70 


20!-::5 

1971 

1*77 

LX 


520 

97 


7.01 

7.82 

7.47 

«..l 

30 


PC 

ED 

35( 

9*7 






1' ’■ ’A 

1992 


LX 




97 

L'4 

7-04 

7.77 

7. *4 

e 1 

30 


?r- 

ED 

5(0 

947 






1“ I . ■J 

1982 


LX 



98 

3/4 

4.04 

7.24 

£.9$ 




CT 

re 

Hi 

947 









IS 





2P5 110 215 
>20 

205 210 215 
520 

70S 210 213 


220 

220 

220 

210 


10.00 

20.00 


19 77 EUROPEAN IMTSmTOT SASE 106 l/S 5-32 5.99 fi.gj 
ion. 00 7.15 1/ 5/19*4 

1*77* WILD M3K 102 8.21 3.G5 1.13 

10 Cl* DO (.25 15/ 8/1984 

EHMin oswti 


...:1 ItaXFFIPIS LX 


.70 PF ET 39b' 529 913 *30 *a 


5." TO 
LX '• 


,7 9b5 97S 
29b 220 91) 930 5U 
9,7 9*5 975 


2.00 

- 2.00 

3.00 


1*77 AFRICA." BEVELPPMPirr MSR 101 
100.00 8.75 15/ II 1*87 


8*00 

5.00 
10 .00 
7-00 

8.00 

5.00 

4.00 


1*77 AFRICA* DZraOPMBtT JUNE 101 1/8 
100.00 8.50 13/ S/1947 

1975 AD1UFI5TAS L 102 1/2 

99-50 8.50 13/ 4/1945 


B.96 

8.21 

I.M 


8-58 

b.;j 

8.31 


t.ii 
8 . 41 


IC’—'P 


3*75 1BTOPISTAS - AJLUmco L 103 5/8 
99.25 8.75 1/ 7/1*85 


1978* BANCO NAC CREP RURAL L 98 5/8 
100-00 6.25 15/ 6/19*0 

197N" BANCO XAC1MAL BE ORRA L 99 3/9 


100.00 


1*74 

99.75 


]93i 

99-75 


5-PP 

5.00 


1977 

99.00 

1974 

W.75 


100 S/I 
100 3/4 
102 


101 7/8 


7.00 

7.6? 

10*00 

10.00 

7.00 

7-00 

3-00 


7.00 


3.00 

3.00 

7-00 


5-00 

3-00 


7.00 


3.00 
3-73 

6.00 
£.00 
7-00 


7 JO 


7-00 

-j-no 


8.JJS 13/ 4/1WB 

UNTO HaCTONAL DE OBRAS 

8- 50 15/ 4/1986 

US toSMOBT « WANS 

8.75 15/ 2/I9S& 

BASK HASDLOUT 8 BARS . 

9- 09 U 4/1987 

BZOCSAOSEA RASTA 

9.00 15/ 8/1981 

197S JqCE DOT TCBi TDNlfllE D 101 
100.00 B.SO IV l/KBL 

1975 hjpc SAT D'ALCWIE " 

100-00 8.50 1/ 7/1983 

1*78 NIT ALCZITE MTUUTIMS 
100.00 8.75 15/ 3/mb 

1*76 CREDIT HMD BUI Z1 
99-50 8-50 1/ 7/1984 

1978* K3BISH EXTORT OraiT 
100-00 ■ 7-U 15/ 3/1*43 

1173 JSDdSTtUl Uff-KWATT 
1M.0Q 4*50 24/11/1978 £ 

1*76 Twnm rnrru. HAST -ESI ATT 101 1/4 
100.00 £.73 25/ 3/1991 9 

1978" BDCKTTIAL BANK-KtVAIT !02 1/4 
100.00 7.50 9/ 3/1983 3 

1977* JUGOBAKKA 
99.73 8.73 I/12/19U 

1976 KOREA DOT BAKE 

99-73 8.75 I/II/I979 

!°7< UOTUAKSCA EAZTA 

99-7$ 9.00 IV VI4BI 

1*78 SJCiOSAL FoASCIERA 

100.00 e*73 U 10ti96i 

i*r? hem or 
IDO . 09 8-75 15/ 3/1980 

• I97T* FTTOLTOS JSXTCA5DS 

100.00 8.59 13/12 / 7987 

uu p rustles macim 
100.00 8.73 • U 7/19*3 


t.M 

7.09 

12-04 

UJ1 

7-88 

7.72 

B-5A 


8.01 
8.2 * 
8^3 
8-35 
8.38 
8.60 
8.(6 


8.29 


6 PC -JO 

1954 log? 
60 .10 

1983 PTI9Z8 
30 


8.53 




i*;i 

to 

1940 


S" ID 

LX 

SF TO 

LX 

CC EO 

LX 


159 

IJ9 


19 


S | 
s St 

t ■ “ w 

- 3y ! 
§21 2= 1 

1 BORROWER/ 

ui 

y 

i • Ui 1 

1 3 : 

«u ; — lia 

! 

s ; 
i i 

lo !|aj| s' 

ieS S-,gi 

X j Jui J l ^ 

a* J ..u=i !<§=■. 

UJ 

IAI 

J 

"x5° 

: 

S 

Market' 

as' oy ! 

£ 3: ji 

i SS“ 

5?. ’■ I 

| COt?CN MATLRnY 

£ 

- = o? 

S' •-$ 

'ill 

UI I 

<C 

1 i 
' | 

Z *L 1 eS:h5» 

eg 

9“ ’51'S c] 
j ^ !3~ i= 1 

1 ■ 
i a — 

1 3 

1 w 


l MAKERS 










ur.ios: CCobTIKLTO) 


ACl £05 
“73 “:9 


<>)l F".n 

60S K9 
fl’J Cl 


nr to* 

9 Si' 

6'f4 < J 1 

->10 

O. *-'5 
eO? b'.-9 
"10 

“14 £?3 
bJP m,-" 

Q]0 

b?i '05 
615 40* 
919 

(U S3* 
618 tW 

no 

tc-l 415 
609 ('-9 
410 

60, 415 
MB 60* 
?m 
= 56 



!*?* UNTLETZ 

9i .so ;:.12 13/ 8/197* 

105 1/8 1.11 5.94 9*99 

IP SI 

00 

7S.?a 

'««• 552793 HZZ2CAN STATUS 
9S.25 6.25 11/ 7/1385 

100 3/4 4.13 8.02- a.l» 

TP ET 

«S 

Sn.ftQ 

1«?2 TAN fBPTSSI 

99 1/2 l.i; *.<: 6.28 

7.$0 KF ED 

15-50 

; ic.ro (.a 

■8) b-o9 

19 in CJ 

22.52 

!i?i tas «awat 

99.IQ :c.TJ U 9/1979 

123 5/6 i.a 7.55 10-37 

r? zu 

TO 

icn.70 

1975 7UEL3 RAFK 
iac-sa s.ro -1/ 2/1983 

ZT90 K“PC52TS UNITS 

IM 3/8 4.68 6-86 7-66 

N7 ZU 

ri 

£C-W 

!97i re20PC4Jf 19,TS!»r ?JBZ 
::p.;o 8.jo :?/ UM9 

1*9 1/ 9 15.54 2.36 £.»'*> 

102. CO 

6 nr 2.ro up rr 

1*7* ?F!*75 LX 

30.05 

1973 EE9 OP UN KTFSWETr BASK 
59-SD a.srs 27/ 9/I9S8 

120 10.31 3.73 6.99 <0 

102.00 

Mr 1.00 HP ED 
1978 PFI97A LI 

20.00 

1973 MET ESTATES A PROP 

96.ro 8.75 15/11/1968 

ZU93 CT1HKCT WITH 

,( 5/6 10.46 9.23 9.06 i|jwo 

*0 .75 PC TO 

UU 3 7K19J-4 L&Z 



IOO 7/8 7. *2 7-10 7-W 

3<* 5.90 re n 

*2.50 

9*.!0 7.U 1/ 3/1966 

A. 38 7.02 

1378 1*76 IX 


2971 ZE30FCU 

103 1/8 2.(7 6. ao 7-52 

7 -no K? TO 

J.W 

15S.ro 2.73 13/ 1/1981 

2.03 h.QA 

1?7, CO 


235 500 
436 
Mi 
23 7 6OT 
6J7 
Ml 
239 610 
H7 
(11 


•or 
611. 
a? mjo 
• os 
E7U 


(04 (05 
60S £09 


(0* 6P4. 

£r-1 610 


•0, fill 

bC9 mo 


6 P9 ;;o 


624 F-M 
610 all 


349 


>23 

316 115 520 


4a J:o ;:o 
113 319 


««: <05 

bO* 60* 

B.'O *10 

014 67S 
604 •■'.* 

910 

6f>; <05 
•ro b)j 
9!0 

bO* 60< 
6M *09 
*:o 

MU 665 
otiB n'l 
P’P IM 
60, “fiS 
<08 bG9 
*10 

604 6P5 

605 60* 
*13 

bO- 60S 

>C9 609 


13.C0 

1.:) 

30.00 


!*’! 

99.59 


LSTSJTrCO 

7.33 12/ 3/1988 


jra 

104 


7.7= 7.15 7-35 
4-?: 7.po 
3.31 7 -40 8. 89 


7.74 

192.00 
*.91 

101.0 Cl 


40 

1MI 


■ SO 
19;; 


wr 

i*:s 


SP TO 45$ 115 NO 

CO 

C3 TO 179 115 STO 


10 


30.99 

19.50 


25-00 

20-00 


99. SO 
1*71 
IOO.OO 


fiHTSLTC OF EEA2C. 

8.01 U J.’ISSi 
refcblt: of socie atfica 
3.03 1/ 4/1988 

EURO CHITS OF ACCOUNT 


1P1 3/4 5.75 :.a 7.74 
3.,5 b.«£ 

99 3/4 7-!- 9-04 8.02 
4.74 6. » 


8.71 
102. CD 


11.90 

I. '-OO 

II. 09 


10 5 5/8 


604 6U5 
• )£ tO* 
jra «11 

- t-'j:. 

bia toj 
sio 

664 <05 
<08 t.t.9 
*10 

604 tC5 
69* ■■)* 
910 

604 605 
608 boo 
715 "!0 
604 bn'. 
•09 619 


10.00 

I.TD 

95.0) 

C5—b 

15.00 

I. ’-DO 
li-jo 

II. 95 
15.09 


I0-.0O 

;.ro 

3-69 

!.«; 

!<-00 

:-tu 


1966 
S’.JO 
1MB 
S£. Cl 
:»*■) 
56.53 


138 1/2 
101 1/8 
105 3/B 


!«?5 A.F-F-L- 
195.09 f-J3 21/ 2/1915 

1972 A572CCLICRAL C3J32T OIF 103 3/8 
9S.J9 19.00 20/ 9/197* 

196) usn US FCecrtTO SAC. 

97.50 5.50 ia.‘lL.'l*7B 

1*71 BASS CBASSIKHOS 

98- 40 7-00 !/ 3/1991 

It. ’2 3SLSA-ATW-ESTEATAS 

6-75 6 / 1/1989 

>£. - 7EX10O 

6.50 I' 4/198! 

- HDlfO 

7. a II '10/1976 
C.r.t. - K222C0 

6.59 P/1C/1979 

c.p.e. rnaiucAL’ 

7.00 17/ tllKO 

1*6] CAS5A PER ZL KEaOCIOUO 

99 - a 3.50 31/ 10/1978 


-48 9.05 
■98 


1.3! 7 
.47 4! 


1 44 8.71 
,01 7.M 


135 


ISbS 

9?.ro 


134 VZ 
137 1/2 
13! 


12.75 6 
9-13 6 
JP.6" 8 

6- 25 7 

7- 42 !! 
i.M 16 

.,: 65 


.93 6-9< 
.91 

.03 6.33 
.71 

.71 B -84 
.44 

.19 9-63 


102.25 

102.00 


3.00 

KP EU 

1A3 115 30$ 120 *20 

1«.'5 

Ft 


in ;-ro 

rr re 

,3 115 513 S20 

19U i?:i 

LX 

yy ’..rn 

or. re 

105 <15 205 215 510 

19:9 1979 

Lt 

>20 


cc re 

LX 

230 115 520 

I. nq 

CC EU 

35 115 sa 

19b* 

LX 


NO 1.05 

NT ED 

103 115 SID 510 510' 


1976 DPI*’ 
JO 7. cm 


TOO. SO I 9(3 


91 


2.0$ 13 
l.Of V 
-42:oj 


.37 1) -42 
.19 

.3 9.25 

.73 

.71 10. B( 


IM. 25 
130.23 


)fiT 

19-8 

!JM 

1979 


1973 
1-70 
1970 
1-fO 
19=9 
l -oo 
i?:o 
-$i 
JPt>6 
l-“0 
19b* 


LSLK 
DC 17 
It 

77 TO 
LTSFAK. 

it rr 103 us ::o 


105 113 3)5 530 
103 115 320 


LXA.1 


sr ru 

L'll 

C! TO 


ao 115 3:o 

230 115 SIO 
35 115 520 725 


604 6P7* 
•09 610 


60* (nj 
•09 6 10 


604 605 
<09 6!0 


20.00 

19’0 

mTRHTtS.p.e^PPANCE) 134 I/* 7.:x 11.16 

11.32 

?« .<• 

rr, SO 

117 I!5 520 

: -si 

99.25 

8.75 Will 1965 

4.0*. 17-52 

102.ro 

:»’8 1*71 

LX 


31.00 

i*:s* air a? corcsucB: 

98 3/4 !4.*2 7-a 

7-13 7.58 

75 2.28 

sp re 

210 !i> 2>0 520 £06 

20.00 

'.ao.a 

!»7( 

7.00 2/ 5/1993 

CUT 0? COFSEAGIK 

10T 7/8 E.C4 7.52 

102.00 
8.16 6.60 

U$r PFi?fii 
75 .75 

LX 

Kr re 

ao 11! 510 520 

a. oo 

99.00 

2*75 

8.75 13/ 6,1986 

CITY OP COFBfflASre 

109 1/6 7.32 7.68 

102.50 
8.53 6.72 

1*41 P FI 977 

75 !.;s 

LX 

KP ED 

ao 115 310 J20 

15.00 

(9.30 

!*7i 

9.M 25/ f / 1*83 

CUT OF COPESRAC1S 

103 J/8 1-ifi 7.67 

102-5O 

9.7! 

1990 PF 1979 

LX ■ 

KP CD 

230 115 510 320 

13.90 

99 .a 

19 75 

10.00 I./ 11/1979 

CUT OF 3EL5KTZ 

111 S.S7 7.29 

8.06 

2-70 

LX 

AT ED 

an us sio 520 745 

10.00 

100 .DO 
!971 

10.00 31/ 1/1983 

CITY or MBCT 

U5 1/2 8.33 12.87 

10-54 

rr 1973 
*or. -<s 

LI ' 

SC EU 

117 113 320 

6.10 

98.00 

8.00 15/ 9/1986 

A. 16 13. 92 

102-00 

19.'* 1972 

LX 


1 2. CD 

1974 

CUT or OSLO 

106 !/B 13- $. 8.19 

8-21 7.74 

?n -10 

HP CD 

an us 320 

in. so 

90.JO 

0.875 1/ 4/1992 

t.m 7.92 

102.50 

19>2 I»T5 

LX 


i? -00 

’•72 

CITY or OSLO 

105 7/8 3.2-! t .19 

9.50 

1.75 

NP EU 

230 115 510 ?a 

lj.no 

75.0.1 

100.0} 

*975 

10.00 5/12/19(1 

c:tt or osld 

2-02 7.11 
IDS 7/8 7-)5 t.Cb 

8.79 7.71 

’*•( 

75 .75 

LX 

i" TO 

ao Ui 510 520 

21.50 

99.30 

9.23 15/10/1965 

A.Ii 7-90 

132.50 

19(0 L*7b 

IX 


17.00 

1972 

COnZOUTK 

105 3/4 in. -a A. 26 

0.56 3.45 

75 04 

rc TO 

103 115 205 215 510 

15. b. 

99-20 

$.00 12/ 3/! 969 

7.52 4-07 

104.00 

197S fr:<i:> 

LX 

>:o 

l?-30 

!?71 

CC9WKHEALJH - Al'STWLIA 136 3/4 6-17 12.00 10-52 

JO .s* 

sr ED 

a us 3:0 

12 . 20 

99-75 

7.00 1/ 8/1996 

5.05 11.09 

102.55 

lfl l?7J 

— 


12.50 

1*71 

CO!J*li:ALTES fSAAIKL" 

136 1/2 3.13 12.95 
— bl 15. 70 

10.54 

one .71 

SC ED 

93 115 ?:o 

9.12 

94.75 

8.00 12/ 7/I9B6 

102.00 

19:9 m: 

LX 



10-00 

2.60 


15.00 

S-2S 


12.00 

8.20 

20.00 


20-00 


15.00 

9-00 

15.00 

e.tw 

£3.00 


20.00 

12.02 


13. on 

r-bO 


20.00 

10.90 

16-CiO 

15-00 

10.00 


15.00 

12.50 


|9=B 

js-a 

IMP 

94.50 
19T1 

100.00 

1975 

99.50 
1*75 
99-50 
197! 
99 -a 

!97| 

1001.00 

!67< 

iro.ro 

1*71 
?».75 
;oro 
inn. 00 
!“<£ 
9P-J8 
I? 75 
9P-D0 

1974 
99-00 

1975 
99-75 


ron>fiA£ns coustt attr 
6-PJ5 2.1 5/1960 
COFBiEACES CQUSTT ACTS 

7.00 9/ 5/1984 
COFEKHAGffi COUNT? ACID 

8 .00 10/ 2/19B9 
COFTOHADBS COUNTY ADTH 

9- a a/10/19B5 
COPEKHACGI TELBPIRWE 
9.50 28/ 5/19(5 

CREDIT RATIONAL 

6.00 7/19BS 
SLlCmiClTT tLTPLT-I.R. 

B.a ?/ 5/1936 
E-KVCUTTIIT 

».a TO. 2/1984 
tsan 

6.23 11/ 6/19(6 

tscox 

9-25 26/ 6/IPSO 

ebbopeas ca*L * steel 
5-75 1/ 2/I5bo 

FISLATO - ET- MICE V-‘.E 
9-M 7/ 11/1983 

IU3ES TZLSFBBliE CO 
.*.00 15/ 91 298“ 

C.I.S. 

9.75 10/ 4/1983 


136 


136 1/4 
136 1/2 
110 
110 

136 1/2 
136 1/2 
109 

135 3/4 
!?£ 1/2- 
175 3/4 

106 v; 
IDS 1/8 
105 3/8 


1.9$ 2). 
1.48 25. 

5.9; 12. 
3.58 15. 
T.70 u. 
4.53 15- 
7.40 J. 


100.25 

ioi -a 
101-50 


.61 9-09 
.65 

.!( 9.24 
■ 48 

-13 10.54 
-72 

.54 8.*6 5-93 

102.M 
6.9* 7.72 8.69 5-64 

102.50 

8.17 12 .93 10.54 ' 

4.17 16.33 
7.5* 12-34 10.16 
4.44 lb.Jl 
5.72 7.29 3-54 


l.TO 
1 *b* 
1 -25 
1970 
.63 
1972 


4',C 
197* 

ATO 
1979 
120C 
19f0 

*5 1.25 

19*0 FH979 

30 i-a 

19*0 PFI9J* 
90C 

103-00 «979 
4>C 

101.50 1950 


102-00 


s.03 1:. 
4.05 17, 
r.9.’ a 

1.07 4 1 , 
7.<B 10 
4.}, U 
3.44 7 
4-0* 7 
£.30 7, 


6.84 i 
3-54 I 


11 10 .«2 

11 101.70 

56 12. 1 8 “I 

1$ 

55 7.61 
59 

12 E -33. 

26 

45 K.37 6.79 
191.50 
■44 9.29 3.62 


1-00 
19:2 
!.O0 
19TA 
-*5 

ip:r F-1977 
450 1-33 


! <19.50 
101.90 


2PAO 

!I»C 

IP'S 

2*0 

1979 


75 


1972 

:-:o 

19'! 

1.30 

1*72 

1.50 

1979 

.50 


19 


104.00 


1981 F13977 
60 l.TO 
1978 1976 


TP TO 
.vtS 
sr r? 

A».X 
7T EC 
LXa'lK 
IT EO 
LT 

VF ED 
LX 

K? EO 
IS. 

PC ED 
LX 

«T re 

LI 

ED 

LX 

rc to 
l: 

IT EU 
A»RLI 
CC ED 
IS 

sp nr 
ir 
KS EC 
IX 


220 IIS 520 


ao 115 >20 
230 !L5 520 
230 115 511 520 
230 115 510 520 
93 US 520 
230 115 520 

21? 51 J 520 
520 

103 IIS 

au us 

230 115 
230 115 


210 (IS 
7-5 
213 113 


529 

520 

SIO 520 7(5 
510 520 


117 113 205 213 510 
520 


O 

| 

-,=> 

SB 

S3 

ir. t- 


=1 UJ 
-< 1 

1 


& 

3 UJ 

3i y 

«£ tC. 

SI- 





. LU I 


s L 

g I 

BORROWER/ 

111 

0 

t 

|il g 

Se* c 

it 

Ed 

ill! 

IM 

im 1 

ifili 

COUPON MATURriY 

DC 

0. 

^ SL 
w 

5 

el! 1 
aSi a 

2 2 

fs 




> • 



1/3 


MARKET 

MAKERS 


FEVAin DINAR? iCCPTlMCDl 


103 :?5 210 213 2:0 

5-00 

340 

>.ni 

m 2)5 210 215 220 

A.f.-3 

520 

4.0,1 

•: :«5 :io 2:0 

5.00 

52) 

332 70j 210 215 ::o 

4-Uff 

.20 

112 2A5 210 213 220L 

5-no 

93 203210 215 220 

J.DO 

>70 

103 210 220 

in.no 
is -00 

IDA 205 210 215 220 

7.00 

520 

7-00 

93 205 210 215 ao 

12.00 

320 

103 201 210 215 ::o 

Z.!0 

3-0 

103 2IS 21S 220 

6-W 


TOf-00 

•l«-> 

9*-50 

l«i 

M-75 

1-74 

9J.75 


PUMTOSA BA.VKA 

9-23 1 11M962 

Kr.sLtc or ice la:* 
S.f S I/I2FIW2 

HXPLALIC OF lEUAIiD 
9.00 15/117 1979 

REPUBLIC OF FA3AKA 
9-00 15.’ 1/1987 


P 101 


1/8 4.42 
:.*: 
3/4 *.5 L 
3.53 
7/6 l.M 


R.*n 

B. 47 

а. ;? 

8.1 $ 

б. 81 


*•15 

S-<9 


100.50 19S3 


B.75 


l.ro 

SC 

33B 

S 


197* 

LX 




l-» 

SF TO 

1(2 

5 

925 

I960 

LI 





AT EU 

217 

5 

925 


1<T«, 

99-74 


197b 
100.00 
1976* 
100.00 
I97S* 
IDO. 00 
1*74 
SB- SO 
1*75 

100. w 


REPUBLIC OF PBIUFPINES 
9 -DO 15/ 4/196J 
SAMP- MOROCCO 

8.73 1/12/1*86 

EAMR-.-iOZOTLO 

8. 50 1/ 3/1986 

SOPATRACa 

8-50 1/ 4/1990 

SDCAy ATREATS W 
9.00 15/ 2/1980 

TTO P0ikEH 

8.75 !/ 9/1960 

KKCXSO fnntAXX) 


3/4 8. £3 
3/4 9-63 
4.88 


«.££ 

4.87 

8-73 


102 

L 100 


3/B 8.51 
6.01 
5/5 9.75 
7. a 
XI .B4 


8.33 

8.23 

8.39 

8.38 

8-63 


X.72 

3/4 2-2S 


9.(1 

7. a 


6.95 9-09 ■ 

lfl. !0 

S.93 9-01 

101.40 
8.91 F-69 

101.00 

8.53 7.61 

101-00 
3.45 8.55 

101.00 

8.59 

101.50 

p.OT 


W .25 
1*82 FFUtt 


60 05 

1**J PF19M 

bo .a 

i*si mm 
90C 1 -67 

1*19 i«ei 

roc 1.17 

19*1 1983 

AO -34 

1979 FF19B0 


6.51 


104.00 


*0 

1978 


kp re 

IS 

srp TO 
LX 

7!F 2D 
Ui 

CC EU 

LX 

ca nr 

LX 

BC TO 
LX 

BC BA 
LX 

CC OT 

LI 


139 5 925 


267 5 9a 

259 3 


159 3 sa 
159 5 9a 


is* 9a 

247 93, 

2B7 S 725 928 


2 7 5-00 

l?b.S6 


I"72 CITY- OF COPCt HADES 
J£.:0 i.a 1/ 9M987 
in&ffliH-BC FSA4CS 


99 1/4 9. If 
4.97 


«.a 

6.43 


one 

197B 


13.T5 

197b 


KP ID 
rru 


F, iu.no 
Sfrl-01) 
6 Ml -00 


An*. no 
3»i)-00 
500-00 
5D0-00 

500.00 

400.00 

800.00 
075-90 


1972 

100-00 

1*7] 

9K-00 

1975 

99-50 

1*72 

100-00 


5DO.OO. 
5DO -DO 


k m 

LX 


119 3 923 
3 925 


300 -DO 
300.9(1 
* 00-00 
41)0-00 

Ann.00 

* 00.00 

jro.oa 

125.00 
son .09 

500.00 
40(7-00 
AD0.no 

800.00 

700.00 
poo.ro 
BOO -00 
500.01) 
490-00 

iro.00 

257.00 

500.00 
500. DO 

5K0.0n 

500.00 


1973 

99-25 

1P72 

99. a 

1*72 

99.75 

1*7* 

99-75 

1973 

99-00 

!«73 

9* .M> 

1971 

105.00 
1975 

100.00 

1972 
99.00 
1*7] 
99 -00 
1*73 

96 .a 

1973 
*0.50 


AEISD FINANCE 

• .50 H/ 6/19B7 
AiUED PLKAKCE 

6.74 15/ 9/1960 

ARISE fU#XCK 

8.25 20/ 10/1963 

4X1 A3 OErELOPttEXT BANK 

6.75 23/ 4/15B7 

BUKMAH OIL 

7.00 30/ 6/1967 

cut or BOSH 

7.50 10/ 4/L991 

CXTT or OSLO 

«.FJ 29/ 9/1907 
COUNCIL OF EUROPE 

7.00 IS/ 9/1987 
COUNCIL OF EUROPE 
10.00 20/12/19B1 

DENMARK - HdriGACE BASK 
• • 7.50 bMI'1969 


91 3/4 
96 7/8 
Z> 103 J/8 

84.7/1 
91 3/8 


7.60 

8.26 

7.28 


3.39 7 . 45 


ECBMTMA 

7.50 

ET20FTMA 

9-75 


■30/ 5/1968 
1/ 7/1978 
24/ 1/1963 


а. *o 

A. 90 
9.08 
4.58 
97‘3/a 12.88 
7.89 

92 3/4 9.33 

б. 6£ 

93 7/8 9.30 

4.80 

IDt 1/4 3-56 
2.56 

99 1/8 10.44 
5-94 
96 1/B 10-00 
5.50 

99 1/2 


7.56 
8.05 
1.1) 
9. a 

7-83 

7.9fi 

7.87 

H-ZO 


I:.’ 5 


61 
7.69 
7.21 
7.61 
7.88 
7-3X 
7.65 
09 13. a 


7.06 

102.00 

6.83 

101.00 

7.M 6.30 

101-00 

7.11 

102-00 

7.64 

102.00 

7.70 B-37 

!01. 75 

7-28 

101. 75 

7,18 

102.00 

9.41 


see no.ro 

1961 1981 


70 ED 222 115 505 510 31 


LZ 


1978 

as a. oo 

1*79 ??1*78 
30*7 40.00 


1979 

AOC 

1979 

90C 

198* 

90C 

J*BO 

30 

1979 


S 106 1/2 4.S5 
3.60 


8.00 

7.60 


reaopEu: con i srm 

. 8-75 15/12/1987 

EUROPEAN COAL A STEEL 

7-M 15/3/1965 

EUROPEAN COAL 6 STEEL 

7.00 1/ 7/lMfi 


EUROPEAN COAL A STEEL 
J.a 20/1271SB8 


97 1/8 J.J5 7-17 
5.05 7.45 
94 6.7* 

3.79 

93 5/8 8.09 B-Z7 
5.59 8.(9 
97 7/8 10.56 
7-72 


7.57 

7.02 

7-J* 

9-!3 

6.(5 


io:.a 
ioi. a 


8-18 

8-92 


7. 5 A 
7-62 


1971 

iro-oo 


me PEAS COAL £ STEEL 

7-75 «/ 8/1983 


m 


5.33 

3-71 


7.74 

7-73 


1975 EUROPEAN COAL 6 STEEL D 105 3/8 «.7B 7.93 

99*a ■ ■■ 


9.00 12/ 5/1985 


4.38 7.32 


1*76 TO7.0PEAK COAL 6 57FEL H 104 1/8 £.64 8.22 


100.00 


9.50 


8.J7 


8.30 


99 3/6 
100 3/4 
D 100 a/4 
100 1/2 
10L 


3.21 

1.71 

3.13 

2.73 

5.09 

3.09 


7.96 

5.(6 


8.09 

4.96 

.49 

2.82. 

4.78 


5.29 

7.79 

8.11 

?.(« 

5-54 

e.SE 

B.6t 

3.58 

3*36 


8.83 
£.12 
I* .32 



30 

•43 

CC 

EU 

287 

3 


mc.DO 

19J4 

BBOPEAH 

lt-.n 

19(0 

tm:9 

LX 




300-00 

*9-50 

10.00 


30 

-IP 

CC 

ru 

159 

3 

923 

iM.no 

1972 

ZD90PEAR 


1*80 

PF19J9 

LX 


400.00 

99.00 

• -7S 


$0 

On 


HE 

139 

5 

923 

AfO-OQ 

1J7| 

EUROPEAN 

li-3-0' 

!9'8 

m?” 

LX 



3<q-on 

*8.00 

J.PO 


‘0 

-'0 

NP 

ID 

J59 

5 

925 

800 .no 

1*7] 

EDffPEAN 

•). . { 

up: 

PH577 

1-X 



snn.oo 

*6.50 

7.00 

• f .<« 

TO 

.20 

HP 

EU 

159 

3 

*25 

800.00 

1*73 

ET8C9EAS 

10:.. S 

i*a: 

TFiSIS 

LZ 



Boo.no 

*5.a 

7.00 



1.25 

50 

re 

:w 

5 

,a 

5fiQ.no 

1«?J 

EUROPEAN 



:*?( 

LX 



5CiQ.no 

99.50 

7.00 


5/11/1964 
OAL & STEEL 
30/10/1961 


5.74 8-11 
105 1/2 3.42 8.06 
1-9' 


15/12/1987 


9.53 

5.05 


6.84 

7-15 


101.50 
1 ' t ' 10I.Z5 
” £ * 101-75- 

7.41 

101-50 

7 ‘ 75 10.-30 

8.X 6-57 

101-a 

J.95 7.03 

ioi.no 

9.46 


1*78 
50.00 
1978 

a. 00 

1973 
a-M 

19 n 
50.00 
197B 
100-00 
IP?* 
AO -00 
1*79 
AO -00 
1*7? 
ja.ao 
1975 

17S.0O 
1*81 
A0.« 

1974 

70C 100.00 

1*79 1978 

»C 80. M 
1979 1979 


PC BI 33 115 505 510 520 

LX 

PC E7 222 215 57(7 5 20 
LX 

S.T TO 230 115 510 520 
LX 


NP ED 223 115 >10 520 
LM 


NP ED 230 1U 520 
LX 


NP ED 230 U5 510 520 

ur 

NP EO 224 X1S 510 520 


KP ED 224 115 310 570 


(0 
1*79 
>OC 
19 79 


r.G ED ao 115 510 520 

LX 


KP ED 230 113 510 520 


LX 


192! 


«nc 

1979 


1978 

72C 

1950 

-W 

1950 


7.AI 


13/10/1984 


7.29 


1/ 2/1986. 
VESTMENT BAH 
1/ 6/19(3 


4- 18 

9.58 8.00 

5- 16- 8.46 


5*96 8.4b 


II Bl 1988 


90G ,?S 

i«:9 i« ?J 


3 -(7 7.73 


kp ru 

LX 


I’l.'J 


8.66 

10. • 


•0 

1979 

30C 


1*79 

1.17 


8 .11 e -' 4 

if.. . 


19/9. ,l*bl 
£0 .15 
U79 Pt*977 


SP TO 

LX 

1C 7Z 
LX 


CC HJ 
LI 


7.12 

4.43 

«.33 

7.05 


IN 3/4 


D 102 1/8 

101 J/3 

r ioi 3/8 

102 S/8 
L IM 3/4 

101 3/8 


3.31 

4-31 

1.42 


8.53 

8.52 


7.07 


2.79 

1-79 

5-W 

A - J-i 

1-79 


8.30 

7.b0 

P.m 

£.74 

7-11 


7.2L 

6.34 

6.78 

TrA7 

8.68 

8.57 

e.;i 

8.(3 *’ T 

1C-'. .' 

8.53 


CC EE 
LZ 


87 ME 
uq 

NT MX 

W) 

B? K5 

TO 


219 9a 
UJ 3 9a 
369- 5 925 
159 3 
2!9 9a 
267 5 


5110.00 

662.00 

400.00 
40(1.00 
(00.00 
£00.00 

800 .00 
BM-OO 
ADD-ro 


1975 EEIOPEAK rSTB5TtmtT BR 8 105 1/4 £.96 7.75 
100.00 8-75 .23/ 5/1995 


197* 

VH.OD 


6-65 7-72 


1972 

98.50 


EUROPEAN HIT AH HU. r BASE 106 1/2 3.46 7.75 

2.« £.98 


10.00 15/11/1*61 
FIXL1XD - ntDDST TO IB 

7.00 15/10/ 1987 


£.94 7-6? 

102.00 

7- 03 7.70 

102-00 

7 .30 

101-75 

7.50 

101-75 

7.34 7-?* 

102.00 

8- 31 £>B<7 

102.00 

9.39 


*0? 

1981 

?0T 

1*62 


10.00 
1977 
43. 00 
1977 
BO. 00 
i960 
20.00 
1979 

75.00 

i*:s 

20.00 

1*78 

40.00 

1977 


KP EU 115 510 520 

iq 

KP ED 130 113 SIO 520 

UC 

KP re 222 1ZJ 505 5 10 S23 
LX 

NP ED 2a XU 510 520 

LX 

KP EU 343 115 53D 320 
LX 

HP re 222 115 505 sio $:o 


LX 


TOY ;o.po 

1*80 1*79 


7bV 

1980 


3n • 

19P4 


IOC 


io.ro 

1979 

50.00 

1979 

iQ.ro 


SP ZD 223 115 SID 520 
VO 

rr EU 222 US 505 310 320 
LZ 

?f za 222 1U 510 520 
IS 

NT TO 722 115 SOS 510 520 
LZ 

S? EO 223 IIS 505 510 510 
LX 

rn TO 230 Its 505 510 510 
IS 

NP TO 223 115 510 520 

LX 

NP EU 2a 115 510 320 
LX 

OTTO 222 115 505 510 520 
IX 

KP 50 230 1X5 510 520 


91 7/8 9.38 8-27 
4.88 


1972 GSAKD HnWBOLJTAS HOTEL 90 5/0 -9.25 8,33 


99 . 25 
1976 
IN.GO 


1.75 


267 5 

M7 5 


400-00 

4CO-OQ 

800.00 

$20.00 


1975 

i 00-00 


1972 

99-00 


800.00 

830.00 


*972 

100.00 


1/ 9/19B7 
INTE!CSK>ZL1! FDUKCE 
B.SD 10/ 3/1983 
CmxZOSELLE FINANCE 
9.00 15/ 4/1*65 

1ST STAXUAHI ELECTRIC 
6-50 1/ 9/19*7 

tlBCDCH OF tW.WE 
6.75 1A.' B/19S7 


4,76 9.27 
103 S/B 4.7B 7.56 


1.90 

1980 


1.23 

1978 


2.ni) sp 


im * 


9*55 8.37 8. 


•oc. 


7.09 

443 


8.48 

8-33 


a .63 


£0 

1962 

10 


!-00 


102*53. 1*7» IS T9 


HP EU -139 5 J y 

> 00.00 

1*75 

PBXL 1 F 9 1 ST m 



100-00 

8-75 15 / 5/1965 

ro ED 637 S" 

son .00 

1*72 

REED IKTOSATIDNAL 

121 

FOO.C 0 

95.00 

£.75 W 5/1987 

SC to 2 P 7 5 025 

sin -on 

1)72 

SLATER A ALTER I NT FIN 

LX 

CT TO 219 9 a 

it 

jiG.ro 

S 5 . an 

7.25 15 / 10/1987 

SAiror rivals 

CC TO 267 3 725 9 a 

loo .co 

JOTS 

AGTOPISTAS 

uar 


59.30 

1.23 13/ 5/1932 

ct to :i» na 

inn.ro 

1 *?J 

e;uc kat dot teas 

LX 

150-50 

J 03 .ni 

6.50 1/ 9/1988 

ct nr as 9 a 

15 n.ro 

19 T* 

SAT ALGTOIE KATlGATTi'S 

XX 

liO.M 

lOO.ud 

£•79 U/ 6/1987 


105 3/B 6-BS 7.95 
4.M 7.(3 
95 3/8 9-2£ 7.2a 
4*7S 2.70 
9* Hi 9-21 7.*» 
*.71 fi .(7 
8 IQS 7/8 6.96 7.(3 


87 


9.28 9-85 
4.78 10.33 
71 1/2 9.36 11.45 

4.M 14.24 


7- tJ 

101.75 

7 ** S 1Q2-00 

0.20 6.79 

101-M 

8 .51 7.!B 

IDl.DO 

*' S ' 102.00 

7 * 33 ioz.a 

B.76 

102.00 

io:.oo 

102.25 


MBO rri*" 

135.00 

OP197* 

90C 6". no 

1*80 1978 

75 80.00 

1979 5P19.’S 
A5C 20.00 
19SD PF1979 
£00 80.00 
IPS 1 1961 

75 
1979 

50 
:?7B 

*oc ion.no 

1*80 WI9P1 
tor eo.oo 
1*79 J«T« 
*q 50. no 
1?;8 U-7S 


NP TO 223 115 505 510 520 


LX 


8D.no 

1976 


CC TO 210 115 510 520 715 
LK 

HP EO- ao 115 510 52D 
15 

57 ED 222 115 510 520 
LI 

W TO 223 115 510 520. 

LX 

HP EU 230 IIS 510 520 
LK 


en.on 

1978 


NT TO 223 115 510 SIO 

IN 


PG TO 2a 113 510 320 
LX 


K TO 230 115 510 5» 

IN 


PC TO 223 310 5TO 

LS 


t 102 1/0 a.js 7lfi0 a.jg 


L 101 1/4 S.26 8.18 gao 
2-96 7.99 
9.04 


101.50 :?79 

:.n 

1J1.50 1975 


6-54 B.65 


8.67 0.71 


IOI .00 19?8 


CO dr 325 230 

■ pq 

16.00 GO JK 440 230 
l?W TO 

•(.DO BC tS 565 23Q 925 
ISflX W 


t 


' '5. - 


! “? 1 


<?. y , 

- = ] 90F R0 VSP - 

Oil ! CC'.PCM.iaKF/Tf 


uni i f i '. ais : ct sr;: -. r* 1 

1577 IFTEZEDfC iB*»S£4, 

100. OC 9.00 1- b- !9c3 S 

1977 SA.W-“CW0CC0 i. 

100.00 8-iG 1/ i.'ISST 
steklik/jk 

I9«4 CITT OF tuxes l : -c< 
9(.00 6.50 IS.'IO'W!* 3 

H4S 5SS0-V1UT3E1T 1 » - 10 

J7.T5 6.50 1/ 8/19*0 S 

105! TCI 1ST FT5 7.56-7 

100.00 e.OO 1/ B/KS4 

iot 2 ntt [states 4 ?»op ’.r:« 
99.53 *.75 15/8.1987 

19b7 XIV ZEaLAXD 11. 11 

95.50 4-75 It/ 1,‘WbZ S 

1964 ID OF 1EELA5D !!.24 
95.73 :.oo 3. SOM 

1953 xx? or iulasd -.i:oi 

96.00 7.00 Hi :;i996 

1975 IQIUKASS 787 '.80 

100.00 6-75 30/ S/I?42 

1968 SI1A- rr ISA 4-6 T 

96-00 7.75 S 

1993 o.s-nuEr ssif— . 

J.-.CO *-W 31. ' fit S 

ADSTP.AL1A.S DOLLAR 'DK 

14 7: U=KAL 6 TSDTSTMES BAR 

100.00 B-50 li: 6, i«p: 5 

EXTOL*!*! S7EK.1W lift T5 

ia;s» allied iuseiies 
99-50 10.25 15*' 1. 1990 

:«7I AKKH HT Fit 

96.00 5-00 1/ :;:»87 

i«:*» ctncwp o/* fis 

99-50 i-'.-oo ' >':mi 

!4 :.- C"u»t»— as :s“ ?:■< 

98.00 '.'3 


!«»:•* urs.i>rEA< : ‘kt 

7W.00 4.7! ;r ■ 1 ;c;t 

1*177. cl For LAN !«E5S«*.* wi 

99. "4 4.7} :>.*!2 .49; 


]*»;r* riiAScr roa :pd>. 
loo.ao iit-uo i 

r»7:« f! r n 3* jst fin 
loo.ou ;n.:i ;• : .*i: 

W!“ GETETSEX »*Li Tv •? 
loo.oo :;.c- 5 i«5» t- 

:®ip* :«* um so:;- ;•<•.- 
lOO.'.O .fl.flft ; .. ;.jr 

in a- powriuE MKr:B~r ;»r 
loo. u i'.-.j / .959 

:»:f» sears *vr f:s 
; O f.. no ;n.;r ■ ; :*-fb 

■»-f. ti>;a: r i kak.'M 
lon.oo 

-11777 lap * ..<• 

:oo.oo j 1 - :•« 


t°" 5 s ::.r 

100.00 9.09 15 ■ »*.:*IJ 

•4'5 ELKTFi'lIT OF r f.V„ 7 

i*>o.oo ?.v> :■ :*.•=' 

JVEDI.-H :s7ib"“£7.- 9IM 
: 07..00 9-ou I.- : :<i. 


‘5 * : * 

i Jji i w z 


< t; - a c * ~ i * 5 £ gi 

7 ■ ^ ’C 2 • a ‘ j 


103 

j/i 

A 

!i 

9.12 

0.10 9 

.14 

30 

V’9 

re as 

318 

2J0 








l P . 

;a 

*97? 

Fl?"4 

LX 





\nr. 

::t 

f 

■* 


0.(5 1 

f 

S' 

;n.oc 

cc 

315 

U3 

KI 







10, 

JO 

19=3 

19! 3 

ro 





9! 


f 

'E 

!.5J 

7.17 



.73 


154 

303 

423 

4U 



- 






1970 

LFIXFF 





:k 




F.G2 

6.35 * 

«« 

■07 

.43 

K It 

359 

HO 

715 

963 



- 

-- 


.,00 


10-? 

I'M 

L5L7 





101 

: f 2 



T.J? 

7.10 1 


ktz 

1.10 

PC XU 


305 

9b5 




fc 


• *e? 


50 

:j=8 

i?;? 

LP 





n 

i.( 

6 

“ l 

6.4.1 

6.5( 


«il 

.*>0 

P* - . BD 


99* 








(03 

30 

i?:? 

1975 

LN 





to: 


: 

-■a 

6-32 

6.74 6 


oor 

.1* 

fp rr 



965 




- 




M 

i»T9 

1470 

LXDD5F 





101 

‘4 

~ 


6.»7 

8-91 


a k i 

.98 



963 





i 

•* 


KI 

50 


1«’0 

LPOPrr 





100 

•'•i 

9 

* - 

6-aa 

6.95 


„ ",r 

I-'*. 

pr ed 

JJ9 

963 




»-M 7-T3 
b-SD 

£■06 £.09 

t.m 


SI W 75 M3 
1* 

«>* FT 361 700 ?SJ 

isnorr 

n rr sis ;u 
Lias 


:o: I - *.r: b-ai ?o 7.1*0 sn ro 219 9U 

— *-i« ;r:.M ;?s3 :?ri u: 


'■* i:-:y 2: .sg 

5* 12.48 
’! *■*-' 8.23 
>: i-m 
■« u . :b 

.'■ 11.49 
••• 11.43 SI. 06 
'I 12.00 
* !r.i9 ;c.;: 
*' ID.t. 

'7 W.TX ;c. 34 
-• 10-95 
:n.:o :o.i! 


= :;.i3 ;:.3: 


S' ::.44 ;:.;o 

so; a 

T ::.f; i;.;* 

■ 12.42 ;;.4; 

12.-. 

•- 12.2; 


»• s ;. 74. ,..[4 

• .2.55 


<>o -ro re m 311 »*• 

•So ;»4j bf:9s: s_*e 

V; -ro rr. a *3£ JO! 920 960 9T3 

.23 1953 BP137; ix 

10 -»o re sc 3s? •** 

■Ml 1964 3P14-9 LS 

-:-C .'>G re EC 316 *•* 

•SO 1942 05197* 13 


■ 70C t.2i 4? EC 3*9 

-10 I’iJ 2P1979 13 

-'•I 3rt 1.30 5P IU 517 *•* 

-CO 1437 PF;9? -I 


S r EC 359 •■* 

146; bp 195. 

77 nr 335 ••• 

:• 3 ;«ij .s 

•=; i: .30 p- nr n* ■;« 90: *ii i»o 

O.’.’S; IT 9-5 5:>.' !f "‘5 

45 > 

7" V. 2U 2*5 *■* 

•i*i> ; 4 J ; ; i 

_ • T.-. J7 Vj .44 

.:a !5?j ir.jfo 

-■ r- El* 7il 

.52 :« s 3 n 

7? i.’fl r; STJ 9 J 4*4 

.1 .■;• %» EC 124 20S 4*.; 9 a 90 

16?. ;r;*£i i* 9-r 9:1 


6-2' f.rj : . ‘ 


rr. n s n «:o ew 9:3 


r- FT 230 210 S.*0 »>S ?r5 


e; sirsioiorjrs 


NOTICE OF REDEMPTION 

To the Holders of 

Honda Motor Co./ Ltd. 

7 >2% Guaranteed Sinking Fund Debentures Due 1981 

NOTICE IS HEREBY GIVEN, that One Million T«o Hundred Eighteen 
Thousand Dollars 1*1,218,000.001 principal amount of Honda Motor Co., 
Lid. 7 l : r t> Guaranveed Sinkins Fund Debentures Due 1981 and bearing the 
following serial numoers, ha’e been draan for redempiion lor account ot ihe 
Sinking fund on July 15, 1978 ai ihe principal amount ihercof and accrued 
interest to that date. “ 

DEBENTURES IN DENOMINATION OF $1,000. EACH 


1164 194? 
1171 1952 
1178 1956 
1132 19« 

, 1200 1965 
1217 2009 
1221 201? 
1230 202? 
1264 2023 
1273 2039 
1262 2053 
1290 2063 
1302 2069 
1308 2103 
1315 2104 
1326 8113 
1331 2’3Q 

1334 213? 
1341 2154 
1350 2252 
1353 2247 
1367 2253 
1373 2264 
1378 2274 

1335 2278 

1393 2231 

1394 2ZS5 

1401 2297 
1405 2307 
1409 2325 
1412 2332 
1415 2339 
1419 2343 
1421 2357 
1427 2374 
1438 2378 
1453 2381 
1459 2385 
1471 2392 
1503 2402 
1515 2418 
1520 2422 
1534 2429 
1537 2440 
1540 2445 
1551 2451 
1558 2454 
1567 2458 
1575 2463 
1580 2466 
1583 2468 
1687 2476 
1589 2481 
1593 2485 
1603 2489 
1608 2491 
1613 2503 
1627 2511 
1635 2518 
1643 252+ 
1657 2531 
1664 2549 
1678 2552 
1685 2570 
1700 2578 
1703 2583 
1706 2588 
1715 2613 
1717 2617 
1726 2630 
1731 2634 

1735 2639 
1740 2643 
1747 2648 
1750 2666 , 
1754 2671 
1766 2678 
1788 2683 
1791 2B96 

1799 2703 
1821 2710 
1830 2712 
1834 2714 
1841 2728 
1849 2736 
1853 2749 
1859 2766 
1361 2774 

1868 2801 
1874 2803 
1878 2305 
1880 2822 
1886 2826 
1892 2844 
1901 2870 
1907 2874 
1913 287B 
1915 2889 
1926 2892 
1980 2899 
1935 2918 
1942 2924 


i 7925 9445 10976- 1228Z 

I 7940 9467 11018 12299 

> 7945 9478 11020 12308 

I 7952 9513 11026 12329 

( 7961 9553 11036 12333 

1 7979 9567 11040 12339 

1 7968 9583 11056 12350 

7994 9594 11071 123S5 

8004 9597 11128 12362 

8010 9598 11174 12385 

8015 9601 11197 12392 

8136 9605 11213 12403 

BUS 9614 11220 12413 
8152 9634 11337 12422 

8167 9630 11245 12427 

8201 9660 11249 12431 

8512 9664 11252 12436 

8518 9670 11275 12439 

8532 9S74 11281 12415 

8532 9638 11307 12451 

8536 9691 11328 12463 

8541 9696 11344 12470 

8542 9707 11349 12474 

85+7 9711 11354 12484 

8553 9721 11360 12491 

853+ 9737 11368 12498 

8595 97*9 11370 12502 

■ 8600 9760 11381 12506 

8607 9771 11387 12803 

3611 9779 11416 1SS83 

8617 6786 11427 12993 

8621 9797 11437 13011 

8629 9800 11453 13060 

8637 9811 11523 13206 

8642 9817 11533 13253 

8656 9852 11539 13283 

8660 9873 11548 13361 

8669 9888 11551 13403 

8678 9897 11562 13481 

8687 9906 1156B 13508 

8691 9914 11573 13637 

8702 9927 11588 13600 

8710 9937 11594 13614 

8718 9954 11597 13667 

8727 10004 11604 13711 
673 T 10013 11607 13769 
8737 10026 11609 13968 
8750 10043 11634 14164 
8784 10061 11636 14273 
8801 10089 11696 14480 
8818 10087 11699 14510 
8824 10115 11707 14550 
8834 10127 11716 14680 
8841 10139 11730 1476S 
8851 10160 11744 14856 
8879 10168 11760 14984 
8881 10187 11762 1524 1 
8887 10196 11779 1 5540 
8894 10208 11784 15716 
8902 10222 11793 15856 
8910 10229 11813 16919 
8920 10239 11834 16050 
8928 10254 11839 16208 
8943 10266 11844 16267 
S95B 10276 11834 18339 
8971 16885 11865 18888 
8986 10293 11878 16423 
9003 10299 1189S 18469 
9021 10312 11901 16608. 
9036 10319 11920 16716 
9046 10330 11941 16783 
9074 10840 11966 16857 
9081 10366 11966 16993 
9096 10394 11991 17159 
9104 10397 12018 17356 
9115 10402 12022 17421 
9119 10411 12085 17499 
9122 10415 12043 17598 
9127 10419 12046 17716 

9130 10427 12051 17845 

9138 10433 12077 17956 
9145 10436 12080 18051 
9167 10463 12085 18117 
9190 10486 12096 18284 
9208 10494 12102 18368 
9221 10510 12112 18+17 

9229 1 0512 12117 18+71 
9242 10568 12129 18548 
9247 10603 12134 18599 
9266 10616 12140 18629 
9278 10623 12155 18S82 

9292 10630 12164 18731 
9303 10868 12172 18251 

9312 10672 12190 18183 
9320 10701 12202 19035 
9324 10855 12220 19143 
9337 10859 12234 
9345 10921 12241 

9364 10929 12249 
9372 10+60 12256 

9405 10968 12261 

9432 10974 12272 


Holden of the above debentures should present and surrender than for 
redemption on or after July 15. J 1978 with the January 15, 1975>-and subse- 
quent coupons attached at Hie Bank of Tokyo Tmvt Company, 190 Broad- 
way, New York, S. Y. IOOOS. or at ihe offices of The Rank of Tokyo, Ltd- 
fai London, Brussels and Bailor the main offices of Mees & Hope In 
Amsterdam. Morgan Guaranty Trust Company oF New York in Fraxtkfnrt, 
Banca Yonwilier & C. S.p.A- In Moan or Ranque Generate da Luxembourg 
In Luxembourg. Coupons payable July 15, 1978 should be detached and 
collected in the usual manner- 

Interest on the debentures so called for redemption will cease to accrue 
from and after the redemption dale, to wit, July 15, 1978. 

THE BANK OF TOKYO TRUST COMPANY 
os Trustto. 


June 12, 1978 


notice 

Bonds previously called for re dempti on have not 


The following coupon Bondspreriously called for i 
as yet been presented for payment. 

49 2280 2882 4792 5871 6224 7B06 8199 9996 

188 2280 261* 479+ BUTT 6268 7658 8911 10071 

700 2283 2683 +842 6902 6ZT6 7Mi 8921 10152 

709 2857 2637 W5 K®* 7820 9012 10188 

748 2295 Z7S1 4847 M» 6WJ 765 3 9014 10241 

1100 2298 9206 BOW «J> «J1 7700 9068 10252 

1871 2958 8082 5239 6058 6888 7743 9075 10296 

1429 2370 3899 3426 «» W65 7768 9297 10429 

1430 2400 4130 B4SS 7249 7777 9559 11 ZB* 

i92s war *22 SS £?1 225 9^z 1133* 

1836 2447 4738 1801 «?lj 7290 7835 9812 12888 

J847 2*7* 4788 0868 9290 786+ 7847 9019 12399 


12414 16247 13400 
12421 15740 13418 
12424 17407 18446 
12480 17409 19634 
12433 17417 
12440 17427 
12446 17+78 
1Z468 17506 
13037 17789 
13870 17789 
14888 18288 
14818 18398 


•I 3 * BOPBOAfH/ 

= “ ’ COUPON MATURITY 


coTrsT’Bicr-rsAsci 

:?“? CV.TA13 DATOM rr 

,5-J.Oi} 1.00 15/ £/ 19J7 

!«»« MCKELIT ITT DET 
liJO.OO b.QO 5/ 1/1985 

ec si er l'cmw ?«p.is 

Fi.iO r.GO IS/ J.-1985 

Cn yvaritL as -BOSC 7MC 

UU .'*nc*TIOS 1ST 
: 31.00 £.:■!) 1/ 2/1489 

CffiCVBrtBLK-I shaft. 

!*i'i* lseki i_*cr isv 
•OO.Ot 7.00 1 1 r/1988 

crerrxriBLSs-jAFAs 

;«75 uiai caecou. , 

iio.oo o-:s jo/ 9/;<i9a 5 

1*» 77 AIAH7 fiMlCAL 
; 00.03 e.49 11/ j.’ljjj 


.„ 5 C; i£ 
= £ ~ « * 

li ir.'i 




MARKET 

MAKERS 


- ? i.;; ir 
..i 4C-2* - 


5= 5 = ! 3 w * g I i 


.4* «■? iu.45 FTISM 97 EC 12 ?35 tI0 213 

I'A-’iO :?-* :?7S LJ.' */:972 961 9J3 

o •; -.3* ns::* f= n n *5 ms 3to 

loi.ra :rs tiro 1970 ug;s its *15 va 

9*1 "7> 

.;a • ’ :** Si.:; ft :»* c*. u *sa « jo* 210 

135.50 ;?:« 20/ t/1970 OSXID 2!i 923 9U3 

563 S?5 


• to *3.50 BJS 5.1 re XB iM 933 969 979 

■S3 1:3.50 !9«B -J V 137* 'J 


,9 ’.3* 5*1 *3.77 ” 3.071 K SC 2S M0 

143. M 19(0 1/11/1318 LS 


•*o <e 
;o.-io 
■32 » -pn 
i j-.oo 


DAI P1’»0N P*[vriKr 

>..9 

<D 10 -1.65 

»-:* JV 5/1966 S :. s 

i-9! 

101.00 1?7J 

BAir: ipc ■ • 

4 4.12 

•D -3.4! 

4.00 J!/ 8/ mi S *-• 

.'5 

2D-.W I? 79 

Dei.* biji s; isjcmr 

4.34 

x..m (5 

:.^5 31/ 3/1991 s ;-■ 

1-27 

105.00 l?:> 2382 

KT.'iBr LTD 5-0 - = 

9.25 11/ 7/1979 J .'7 

1 1 . >2 

—*.90 

HITACHI LTD ;- * 

2 ;. :■ 

<0 jn -6 .66 

6. 23 M.’ 9/ 1984 E 

— 3* 

i?i. :i i«'S 

6£WGS»L>i ELELTR1C '.T'PJ r 

5.?; 

*1.31 M 7.12 

9. ITS 30/ 9/ !992 S 2: s 

i-’? 

IG-.SO 1930 


I*::* :to-v«aiw 

100.30 v.aa 31/ 8/1392 s ;; *. 

jusoi i • 

iOJ.ro B-on 30/ 2/1992 

i»::* ua 5u.>j cp ■ 

100. <X> e.PO 30/ 9/; *72 ] 1-; 

;*t<i k«atsi ha-Clticttaik 

100.00 «.75 30/ i. I«it s j.. 

1* :• F.CSU7SI L.Tl ■ r 

104.01 "-75 30/ *.‘1913 J 

;»7s FilPTA 

!40.tM5 t. 75 ij/ */;•«! s : L- 

XaFI'T 

jo-:. oo o.5o 3i; :;i«i j-., 

*.«■; hatsi'/hl;* f^nipic 'jp 

100-14 n-"5 :e 'll.* 1990 S . 

|i*J IT. 75- tl SHI ELimiC 

l.'3-V) -.50 31 ' 3.1991 s :*• 

•«— - r::f.*Bi4Ki 1*7 ire 
l.V.ry. -.rr, y\ , Ida; J -* 

;r*‘- *n t.m rub: hea-.-y iso 

::*w -.54 :: . 199: s .. 

: 4 - v: :si* -Hi ■roMiiiA'rrp.T 

o-’ --Po >:/ 3. :?■; $ .. 

(9*5 <n :<*. e : tb ; c mfpu rro>; : . 

I'.ft.lS *.!rt 30# 9,' 1990 f ... 

anrarMi ■ • 

3:. 3.:*»i j 

n:: aiT-r; 4 co ; 

■ 30; 9; 1990 s : 

k: -. : * co 

lOO.-iv 9.74 31/ 9.19*9 E • 

*.«■"* Ht Til'S tSAL CblATT PET *7* 

.■.rt.ji; 9-on jo* « to*/ s 

*.1— - SSTTP 77 10.^:7 JMil'lT 
ICO.'il s-'iO ?0‘ 9 !M2 s ? 

19'- fWMI' tLKlFO:.*." 

13'1-Jj ■’■23 33.' ? li?} :' J 


. 5 

. . ! 5 


10i.3J 

.74 f -98 
109.40 
.9* <n 
104.01 


105.50 
-32 40 
135 .*0 
•51 <0 
:o?.M 


:::-53 

.23 

: ? — o-j 

.92 

:c— n 

-7L f> .2? 

10— 70 
-J7 -P 

.« -1 
:j—91 
.0? ■*" 

15* .27 


-.57 TS5 130-2 *0 SC SO* •** 

197b "J 

-.1* TZF 7-0 9MC J01 •** 

1/ 5. 1977 AB 

-1.65 TEi 181-3 57 ET 299 115 

I* 3# 1971 LX 1*4 

-3.1! r? PU 463 ■** 

I# 9/1974 LX 

Ml THR }*! 97 R7 159 5:1 

IJSI ll 3. 1*76 LX 9 IS 

-4.90 TEf "9-8 97 B7 3*6 ! 15 

: ::. 196* lslx 9^c 

-f.efi res - EC 399 515 

If L* 1970 LX . 90 
r.12 TJS HI y® AS 39* 913 
:> i/:?-9 si 

*.4j TOi.i; :/2 rr xi *is *** 
71955 If 9/1*77 AS 
5.11 TEc::*9.7 rp *E 2:4 

1/ 7 1 977 LX 

.*.9? TES 705 17 IT !9S *•* 

U 10* 1977 LS 

-1.72 TC Z\» “ SC 313 515 

1«T2 1, 9 ' 1949 LX -• 9-2 

TF SP ST *1* 

r :9fl3 so; t ’ 1975 as 

TEN 3.6.4 2L FT 435 * M 

?15!i 15 ? :/!9?b AS 

7ir e»7.» 5? li *63 •*• 

1 ' '• 1974 LX 

-.*- TL« 599.6 CL ST *14 **» 

:ifi ;? :i-':9?5 nt 

-2. lit 1: C 488 

r:?t: -r.rt u 

I'.-s 7 55 :*5 v» e: *« "* 


.33 -o 

;p-.rc 


, tk 

3.97s 

ts 

1 .4 1977 

1 

1 »B -t-.*, 

3! !'|4'S 

TE! : 

: rs 

. 17. 1M974 

w; r 2" 

1 10 1977 
2®. 

5. 1?77 


SL E 45* ■** 
S: 8U »3S ”* 


r- rc *M »“• 

LZ 

5? XT 492 ••b 


cosrzxT laiu-Lnsaons 

l»:i Oe.EPAL SRPPPUK 
110.00 :.25 !•* »/U>7 

COe.VRP n 9LE5-:.TTHE7iJSrS 

1 4 >9 A F20 

; 3i.;o — ■ -* 1/ i. iiiJ 

•"*1 mo 1379. , . 

IIO.TO JoC 1/ I :139 

!*'* t-MA 

•.io.co ?.:5 ii; s ;592 

•9«.4 

joo.oo s.-i . ?i» 

'.*68 lOWO'.ILS 

.* 00.10 r.:; i: ? .?-i 


:y 7.-0 *■ 


57 2- 

ii-.ci :ro 


!;• *.s: >7 e sts 


: : - i :-2<; 


: 5 1.1- s 

:.-5 


«•! =, III 

2gi~£ 


t PSRO'/.SR* 
coupon MATi^PiTf 


J* i.7J 7. 
6—9 

95 

S u — 

iu E »• 

y 

= g= - < 
0.“- I or 

I “ 5 S; 

! s s : 

i : sa 


.is 1:7 7; :r.: 71 r.* r-z: si: 

i*:» :**i i. = -.9^9 as i:-. -.z: in 

«•! 9*0 

71 .*■ i=.i rs i= —7 it, *:•* 

io:.:s :4'5 !**o :/ xs s:o ho n 
,:s ? .*.• r- - :n f? e a.* ru *> in 

ics.k . 5 rt =. :3"i li s:: s;: j?o 

«■; 

•• r. »; sr e 2-: *c; *:* 

iii.u lira : : :?72 ts c;: 9 l: *'5 

ic.-: tl :c- s? e 21- 1:1 4:3 iri 

;;*:.:i a-i :*-? 1/ i isrt usr. ->'.i t.-. «:t 

»•! 9c'# *Zi 


35 f • MA"«T 


tfP*.'.pr7S:E-f.f. '7V.TU.7D1 


22-00 ;*T3 cap_*:i 7 :os 
24. 10 100.00 -.09 


10*0 CAXrllX 0/S 


1944 cwua»oiai- 5 cT>: :s7 
liw.co — i. ii i«: 

I«,B CBESEBSt'CCh-FOrO? l.*T 

100.00 PJ.25 1: 12, 156- 

JCbS tunus OIL 0 '3 
100.00 5.00 1/ L'1084 

19«8 fflKUB 0/S CA? 


60.00 19*1 CSFT-TU! 0 !S CAP 

W-OO 100.00 4.75 15/ i! MB s 

12.01 T»6* CIC IAT CAP 

i2.3o 100.00 :.75 i/i:.*m: S 

30.00 1949 CfBOLT-TALTH O.'S 

33.00 100-00 5,75 1/ L<I*?4 S 

Ti.OO 1949 COKTir-ENTAL TCLCMVSS 
XT' .00 1 00.00 5.30 1/ 3.':?53 ' 

.i>.04 lot* conrrei. taia itt 
i-.oo loo.oo ;-im i; -*i?is 

20.00 !9t#S C09HIS5 OT FL5 

2.00 100.00 5.00 1/ *,'W?S t 

15.00 'i«7! cDwiNs ar rL' ; 

13-00 100.00 i.24 l/lCi'IUb S 

20.00 1972 UL‘U.1 

23.00 100. M 5-25 !. '12/1937 

20.00 1972 MIT UTOG6TUE7 

20-00 100.00 4.75 <5/ f/l»J7 

15.00 1969 DZSHT timJF.ir707AL 

15-00 100.00 5.50 If 3/1939 

S.io 1963 BtCTAPaOKX CT 

S.49 100.00 5-50 1/ 3/1938 S 

20.00 3963 KUXISCBUf XET 

19.39 100.00 S.50 15/ 3/19S8 S 

70.00 1963 nanus mux is? 

66.02 100.00 4.59 13/ S/19ZS S 

25.00 1972 uimr m ns 

25.00 100-00 5.00 U 3/1987 

25.00 1972 e.l. anxsaino.*i4L 

15.00 lOOltn 4.75 15/12/ 1437 

13- 50 1968 ELHTTKOnc MMOIUs 

13.50 100.00 5-50 15.* 12/ 1*38 S 

20.00 1976 winamj awEFA/f.sr 

20.00 100.00 5-73 1/12/ 1191 

20.00 1945 m DEPT STOHS Ir.T 

19.98 100.00 4.50 15/12/1185 S 

30.00 1972 renoBu cap 

30.00 too. 00 5. DO 1/ 5/1992 

to.ao i960 mesnCBTE a's m 

59.02 100.00 - 5.00 U 3/1938 

30.00 1903 FOU) XBT CAP 

38.80 100.00 5.00 1/ 5/ISS3 S 

73.00 1973 * raw tst pm 

75-00 100-00 2.00 15/ 3/1*88 

ao.nn i«7i row w cup 

30.00 loo.ao 6.00 15/ 3/1983 

52"22 .I! 7 *. exRxxAi- bjctfjc <v, 
30.00 100.00 4.25 15/ 6/1987 

30.00 1967 CBBIXAL FOODS n/s 

30.00 IDO. 00 4.(25 1/10/ I 982 | 

13 JO 1968 cnZSCD OOXLB AJ>p*Jua. 

12. Ji 100.00 3.50 It 3/19M 

20.00 1949 GUm XKTRXWnOu:. ht 

3.13 100-00 3.75 1/ 2/1W* * 

50.00 *1167 WLLETTC 1ST CAP 

30-00 100.00 4.75 31/12/19(2 | 

30.110 1972 CHXMTX 

50.00 .10*1.00 4.7 S 1/12/1987 

13.00 1466 n.l. CEACS 0/1 

15.00 97.50 5.00 1/ 4/1980 ■ 

25.11 1972 GOULD 

25.00 100.00 5.00 1/12/1417 

SQ.M 1948 OOLT S WESTSM TKT 

45.98 100.00 5-00 U -/ 15f* 

13.09 1972 B4XXXS TST Tar 
12.44 100.00 3.00 1/10/1992 

15.00 1570 WLnur SBS 0/3 

10.00 100.00 l-OD 15/2D/19S3_ S 

30-00 1971 Bantu CAP 
30-00 100.00 6100 13/(1/1903 

30-flO 1968 BXRTBXU 0/8 71.9 

14- ot loo.oo 5.W nr z/imx ■ 

23.00 1568 Z.C.C. 1ST 

25.00 100.00 5-50 li 4/1933 > 

30.00 19774 XU 09XXSE13 7XS 

30.00 LWJ-DO 6-00 1/ 8/1997 

20.00 ".1971 • nmat-caar avtZLs o/a 

2&-QQ (00.00 7.00 15/ 6/(986 

50-00 1963 XIS3TAWAXD RUCIXIC 
40.30 100^0 5.00 15/ 2/ 1583 

tf-eo IKS nr sxdud BLsnxic 

16-80 IDS- DO 5.25 E/U/1KB 

25.00 1969 in auvio ELBCTBIC 

IA-18 100-00 6.25 1/11/ 13 4f 

ISM i96« UR mums o/a 
2<n 57 JO 3-23 1/ 6/1983 3 


77 r* S.!S 
:* 1/8 4.77 

*i :•'* o..« 
20 WA 3-» 
5* 1.0 
2- 2/3 ’.S( 
107 1/2 :.*! 
22 7‘S 2.84 
U1 7-S 2.7* 
-l Sic 4.25 

H Vi 7..0 
II 3/8 S.59 

67 I 'Z - T.16 
11 11 3.79 


T .29 

10.90 101.S3 

6. (4 

7.60 192.50 
•-9i 

:j-ci ;oi.:5 
i.*i <p 

13.90 : 35.30 
-.-a 

7. DB 102.50 


101 1 f 2 4.47 
40 1* —17 
98 1.8 6—7 
*0 1/4 <..17 


7.11 

9-00 183.00 
8.i4 

9.00 102.375 
3.96 -0 

5 . no 101.50 

6 . (1 

5.00 lOi.50 


3PT 1*5.78 

9 

73 2;.5B 

»?! rpi9:» 
TO -.27 
I978 3719:7 
39 17.57 

1978 7P1 577 
30 -,.17 

15.3 OP 19,-9 

70 

197S DJI 979 
V> 

1978 DP1979 
* 

153 1979 

73 

:9*8 1976 

?o i:..*5 
1978 D?19i9 

70 

1916 3P1943 
!•' -1.63 

1*73 DF1«79 

22.86 


JS IPS.Ci? 
V 1/1973 

iu 79 

a:/ 7/1970 
St 11 2/1 
:/:i/!9« 
tu i M 3,’i 
13/ 9/1970 
03 11.07 
1/ 8/1568 

sr 62 

15/ 6/1563 

JO 73 t/2 
i:/i2/:9»* 

sr 76 7/4 
u/ :/i*6» 

JC 23 7/1 
1/1 1‘ I9»9 

2* • V* 
:/ *':9n9 

*7 124.06 
::.'io':»68 

it 74.:* 
1/ J »?o9 
S': ii I/; 
231 4/1972 


ST ZD *88 
IX 

?s zc 4« 
Ll 

92 ID C47 
LX 

95 3D 4*7 
IX 

PI E» Z38 


TC ZD 359 

L5\T 


re sc 361 

STL* 


re tc :s 35 s:a 

L3LS F-I 923 
t-j 973 
re e 2*1 22 r:i 
:=y ?-o 4-j 

re n in :• >:a 
S'.'LX 9*>8 in 

?: e it: •: *:c 

LX 933 4-3 


60 

1**( 

B.72 1I--9J 

'a 

9 

1/3 

J..*7 

103.00 1378 

31 


5-S-i 7.70 

y> 

5/ 

1/2 

Jill 14.00 

(02-50 197! 

9* 

1/8 

5. 7 8 6.13 

yi 

JI 

L’2 

2.54 11. 00 

102.50 197! 

SI 

1/8 

6.57 8.20 

Tn 

U 

1/4 

i.7 2 9 -00 

102 .<75 1478 

73 

3/a 

7.74 10./4 

JO 

9 

VB 

3.53 19 an 

102.00 19:8 

84 


*■4] 6.81 

30 

55 


J. 13. 13.00 

101.50 1978 

87 

7/0 

5.64 (.86 

30 

39 

1/4 

5.13 6.00 

102.8* (9.-8 

7* 

3/4 

6.09 8.L5 

30 

22 

3-Ik 11.(2 

102.33 (978 

71 

3 V 

7-81 :o.ij 

10 

6 

it: 

9.00 

103-50 1975 

92 

i/a 

fi.T’ C.«0 

15 

33 

2; 8 

:.»o u.oo 

104.50 1ST1 

100 

5/R 

(.52 4.(5 

<0 V) 

36 

3/4 

*.n 4-Do 

100.00 I9T! 

57 

:,f 

6-64 11-07 

» 

5 

3/4 


102.00 1378 


VI 80.42 
1978 0P197J 


W 6.91 
1578 


M 1.35 
1978 


31 Ml 
2978 


71 2I-4I 

1978 


91 3/4 5.10 0.97 


5.13 9-D0 100.00 1978 


71 3/8 7.71 ID. 28 


im-Do 1918 arion 


86 i/a 3.56 8 J9 10 110.71 

27 3/4 S^I 11-00 101.50 1971- 

76'7/a 6.18 8-37 30 83.61 

27 3/4 5.81 11-00 103.00 19/8 

BS 3/8 3-92 7.9* 3" 83.88 

5, 3/4 i-f J 7.00 100-75. 1978 1976 

114 4.39 3-26 <0 301 .40 

28 1/2 6.77 7. DO 101.00 19.18 


14 4.7 1 3.00 107-50 1978 OP L 9 79 

172 3/8 r.40 <8 30 -I.il 

33 3/8 1-87 13.00 103.30 1978 &P1983 
98 7/8 8.73 807 10 93.60 

17 7/8 3.13 10.00 104.00 1978 &P1978 

87 3/6 6.84 8.04 10 88.04 

36 3-39 8.00 103-30 -1978 

87 3/8 5. W 1.86 39 81-10* 

36 3.M 8.00 101-30 1478 

33 1/4 10.60 13-02 30 

1D7. 00 1971 1979 

95 3/8 6.29 6.42 35 13.17 

40 7/8 1-36 6. DO 104 JO 1979 


90 1/8 7.77 8.70 

< 5/8 _ 6.00 103.7] 

U s/B 3.64 6.62 
31 i/6 6.43 7.00 102.00 

83 1/4 6.31 

31 I/S 6.43 7-00 102.23 
93-5/S 6.68 7.08 

91 1/8 6.13 7-00 103-73 


90 16.78 

1971 07 [90 1 


30 71.54 
137! 

30 80.48 

U78 Bfl979 

90 22.37 

1978 071*77 


It r: i/a so ic tip 9.'3 

:,' 7, *973 LS 9-0 9*7 

i *0 99.0! 17 n 417 25 523 VI 
Ii 9/1973 LZ 9J5 *.<3 9*7 

5(1 975 * 

! ?r 40.9"* PS 75 447 X 300 *35 
1 1/10/1969 ET_X 540 !W 975 

! ?r 29- 1/1 PC ED 359 23 803 915 

I 1, 10/1968 LZ 940 *60 975 

1 to CS 1/2 PC SO 401 33 BOD 93S 

31/12/1968 LX 940 960 975 

! SB 96 PC EC 456 *35 520 SOO 

15/ 5/1M9 uZKT .870 935 9 40 

947 9cD 975 

I IB 55 PS ZB 434 35 SM EDO 

li 1/1973 LZ eio 939 9*0 

9a0 925 

I JD (3 1/3 PC ED 418 25 530 970 

1/10/1973 U 935 9*0 975 

SC 33 1/2 PS Etf 359 35 800 940 

15/ 7/1969 LS -975 

SC 45 1/2 7C m 510 35 520 600 

li 8/1977 LX 870 MS 9*0 

9*7 MO 9?5 

H At PC EC 447 J* 800 MS 

13/ 7/1966 BTLX 9*0 960 >75 

*C 47 1/i 73 ZD 346 35 800 M5 

15/12/1972 LX 9*0 960 975 

SB 29 3/8 PC BO 404 33 35 330 

31/12/ 196! 9TLX * . 800 870 933 

9*0 96 0 975 
«1 33.22 PC BT 41 f 35 520 IW 
15/11/1968 DU 870 935 940 
9*7 960 975 
*0 36.21 PC S 418 33 330 MO 
30 1 4/1974 IX 870 *15 9*0 

947 9(0 ?»5 
SB 50.48 PC m 418 33 320 800 
1/10/1971 LX .870 933 «-0 

947 9*0 9>5 
IB ID 3/4 K 80 436 36 3 20 810 
13/ 6/1973 LX 870 93* 9*0 

9*0 975 

SB 42.974 >C nr 418 35 5M SOB 

li 7/1968 BTLZ 870 935 9(0 
'9*0 973 

ID 31 PS re 447 3* 810 935 
1/11/1968 ITU 940 9*0 975 

li SI -63 PS BD 229 800 92S 
U 9/19(9 LX 

SB 67 1/2 pfi BD *56 J5 520 800 
31/ 5/1968 USX 870 935 910 
947 9(0 975 
SB 67 HP m 4*6 » 520 800 

30/ 6/1973 IX 870 MS 9*1 

947 9*0 975 
80 57 . 3 * re id 300 as poo 935 
1/ 8/1967 BT 3*0 9*5 973 

ID 25. I SB 8B 418 33 520 800 
1/ 1/1973 LX 8-0 91* 9(0 

9*0 973 

in 14.46 re BB 417 33 520 80S 
1/ 8/19(8 HTLXPl 870 933 940 
9(0 075 

SO 30.33 VS BD *37 35 800 935 
29/12/1172 LX 940 9*0 975 

8B 33 PC HI 489 35 270 800 
li S/1971 IX 935 9U 9U 

975 

SB 1M PS HI 361 35 330 800 

1/ 7/1972 U «70 935 940 

917 9*0 975 
SO 103 1/4 n ID 361 3 3 600 935 
lil 8/ IMS nr 9(0 973 

$8 S3 1/2 PS - EB 13 800 97S 
1/ 6/1969 LX 

48 1/2 HP 88 233 S3 5 20 800 
ll 3/1978 LX 870 935 940 

9(0 975 

ID. 13.73 PC re 447 35 800 933 
mi 3/1972 LX 9(0 960 475 

SB 5 A 3/A re X8 327 39 520 BOO 
15/ 8/1968 KLX .870 931 9(0 
_ 960 473 

09 CC 3/4 N D 327 33 100 940 
U 6/1969 LX 9*0 973 

SB 60 K B 441 39 320 800 
15/ 5/1370 UK 870 933 960 
960 «» 

R 1( re m 35* 5M 975 
li VUI7 1X1 


tat raua ididubs 

4.30 1/ 3/1986 M 


J* ... *•** 3-W 30 23-12 VB 4t IS SB 327 HQ 373 

31 l/l *-*3 7.00 >01+10 1]78 9P1977 It 1/JM7 wrLX 

*? Jft I'Jl » 40*34 M 3! I/I IB D 327 S3 320 800 

ji V» 1+1 7+m uuo »n IV VUW at ini^iu 


BORROIVER/.' ' 
COUPON MATURITY ' 


financial Times Monday J97S 

nuiyiis is! is 1 1 tifi . 

y| |a I . §5 lYswiBr. 

01 sS -»d' ??S 1 Makers 

jobs f £ 

*5 eg “• 

9 = . 2 S q 


§5 SS *3. ' 3s riz 5 = 

■ !i!“ LOlH. 


otS Ilf! Is §s? S 

Sb z£*|2e 3 5 S 5 

o* j 1 ^ s- 5 5 P ■ 23 


r | • . 
f 


! «*» ■ — iTy rel* — (CPSTTSCBU - 


20.00 I960' X*L*X. 

10.00 10047D 3.' 


5213 Jj 7/lW* ' 


1049 1969 ran* anoEssuaDsiAKC 

3.00 100. '90 6 JO 31/12/1984 

100.00 1468 PXZtnS LASTS 
91*00 100.00 4-/5 3 Q/lilSU 

10.00 1969 XUT ULOUROi . . 

6-41 100.00 6.50 1/12/1984 

cw^m»i nawi» 
(3.Q0 1970 SDSuiflnrnnT use 

6C4» 100.00 BM 1/10/1991 

xo^o . (471 bub dneoEis in 

30.00 100-00 6.50' 13/11/1488 

oanixEpnja^ftisxicA 

30.00 1971 USD SSLeazaS Cmr 
20.17 100.00 6-30 U 3/1986 


mw ni rsi.a-aHXD» 


33.00 1977* EAEBVXK 

35.00 100^10 6.25 -19/ 3/(981 

oianzrau^gdizKBilAsaD 

6D-io 1469 AUJsnsnS or 

63.00 100-00 . 4.73 1/ 3/IM7 


I*] 1/4 4.67 3-M 

in 

3735/9 1-72 
U9-2 5-76 

96 5/9 f.(2 SJ 1 
27.2 . 

lii 7/S «•» 5-». 
154 **7* 


*=:”* J: S 


-;ji* J:S HjS ..i.® 


„ ];« =■=* M ? : g 


-?1» R229 - «.WiatT CT 63Oit0i 

isss 

iirs *1/ ylw £ w ^ 52*8 “ : 

-5-18 .wmftDMt 

. 1/ 1/1969 AS . " 

9X5 '9*1 575 

-8JT9- IL 219 " '40®» 23*S»«t«O( 

L975 1/12/1949 4H 


® 3.93 M 4.* 86 U 396 930 9tOSH 

1ST B 13/12/197* OSJXL^ 

60 78WU S8 6^ «P'W 155 9» 990 973 
1578 .2/ VW4 •».. r ... .-1 


6o 15.(9 

1978 1/ 9/1971 B9- . . -5*0 973 • 


45 2.13 ESZ.X3S VP 80 315 ; i3 ton Ut" 

1983 “ i/iot.» *»«»# 


mt* cam it 
- 100.00- " 1 4".J 


1976 SA5UB .0TBSK6S - 

100.00 4.75 “ 51/12/1948 

1977 t9X0K W SVXTEfliiXI 

100.00 4.30- ' 13/ 3/1987 


10* 1/4 
21tS 


SKAS • 99 5/8 

51/12/1988 »59 

ssn i2 am in i/4 

13/ 5/1987 3013 


r. 

3C 


RMOR 







.0: 

■-G 



-T.SJ 

TSJ. 55 7-.: 

P? EL' 

-11 

■ M 



if. 

or 

IOO.DO 

n -T5 

30/ 9/199L 

S 

1 






C9 

i‘i; 



— 




ll .01 

lit 

•t* 

:■■■> 

S.C:7C- CM 






*•( 

?- 1- 






T-? ET 

394 

■•re 



ii 

f j 

lOt-03 

e-:!- 

i:> :99i 

5 

• 


; 




:o 


- a S J 

:/U.!974 

IX 




23.20 

,y. 


1- -r 











*■'- -i 

ns :"•? 

P? EV 


5:: 

oa 


j 

29 

l.'J.iS 

-.:o 

:0-::::953 

S 



i 




23 


:?5; 

1,-13. 1975 

22 


91 : ?=:• 

9ii 

2S.03 


09 





; 

. 

;» 

6. lit 




—..9 

so 

?? rr 

ISs 

5:1 9t2 



15 

•:<? 

!lO*vO 


30 ' ? ;9«: 

5 

- • . 





:c- 

TO 

19‘: 


t:>7s 

rnx 




ir.ca 

If- 

CO 

1?;** 

slni.tpad e.'j'77:>: ic 




i 

-0 

3- VC 

• J 


:> 


TU 223 


:?* 

«•*«. 



I* 


ITt.iO 


37/ 9,199: 

E 






!-■* 

:i 

: = i3 

190! 

:- :c :«? 

-li- 





’•1 

03 


SL!C:i»» 8 ETC. 


e : 

‘Z 

( 

Zo 

s.:r 



0 

l.«! 

T2S : Ji 

5? E3 

-S3 

9 u 

025 


z* 


:;.50 

»-f it 

31/ 3/199/ 

5 

; 





;; 7 

15 

1*-? 

:*£i 

. !••;: '1974 

LX 



»-s 

29.9! 






_ 

- 


C 1 


.1 



-2.9= 

7SS : :/■- 

pi tr 

-Sr 

6 : 1 

9U 



CO 

co.ro 

n.uO 

Ji. 3/l«!- 

£ 

?=• 



9. 


:c: 

10 



mi 

12*1 to 


■63 fi* 



y 

00 

K—o 

roc.-j oep: 

srosr 



V 


73 

5-fcD 

• 0 


-r- 

.19 

Sff -23 

VP E 

*63 

WWW 



l! 

if. 

ca-oo 

n.OO 

31/ :/W?2 

S 

1 





15. 

00 

1351 


1 ‘ IC/ 1977 

IS 















3-6? 



- + 


TP! ’.:4 

S? ET 

213 

vU 



*0 

no 

Mv.QO 

■ •25 

30/ 9/1992 

5 



: 

; ? 


*V- 

20 

19*3 


'.j ::<:977 

JZ 







•9'? 



• 




-j 

:.:i 

• 9 



■=.K 

IB 22! 

17 z: 

S'.? 

M* 





1JO.OO 

6.75 

30/ 0/1940 

S 




28 


171 

10 

in: 


:/ 10/2923 

2317 




25.00 


118 .00 1076 onoe IU3E SritEfDTX] 
59-23 190-00 saw 13/ 3/1381 

commxaiJiHa:'. - 

']*a» 1977* «gB*miWTim 

as .» ioo aw .-Taw 13/10/1992 

30.™ 1977* UBCBIl! Tir- 

30.00 100.00 (.75 -13/ 9/1992 

7C.QO 1968 ZBBSU.01L' 

53 .24 1004)0 5-50 1/10/ 1988 9 

vsrfo 1472 Kena i.v. ' rr 
sr.ii laoara s-» ' 1/1 0/1992 

10.00 1977 CDHP&1X IBO 

5. CD 100.30 - ff-SO 1/ 4/1987 

J51.TO 1977* XCI az.Ta 

lot .00 lcoaio 6.75 1/ 10/1997* 

35. CO 1977 BCXCAPtanwrauT 
X..I3 IK .00' ' 6.75 15/ 4/1992 8 

75.00 (473 UK raCUSUTUN 

7J-00 1CO.OO 4.25 li/ 211993 

10 .CO 197: SUXZX CALXZX XBT F19 
6.30 100 an 5.15 15/5/19*7 

CCEf XCUBIX5-C . S . . 

13.11 1968 ADDEftisbG8A;S-Mn.T 7B7 
11.93 ISaaM A.73 It V 1988 

12.00. 1972 ALASKA maSTATK TST 
! 1.27 -100.00 42TO 1/ S/1S87 

ID-5B ' 1998 llOJC 13T 
r.i! 100.00 5.30 13/11/1963 S 

32.39 1968 AWrereiz iCAV TST 

37 an, loo.oo . 4. is y/ s/iiss s 

t'.M 1972 ASHE CAB EXJUSS OiS 
*0.00 100-00 4.25 15/ 5/1937 


iipataui SEDZCAL 1ST 
5-50 IS/ *,‘1992 
ASSUCAS MEDICAL 1ST 
7.W li 1/1990 
ismxcn hdtoxs o/s 
(.00 .li 4.- 1942 
inrcir ttiicoi isr 

5.25 1/ 8/1958 

ua ■ 

5-00 15/ 9/1987 

inr'jai g/S 

5.00 15/ Z/U8I 

u&cax tora nr 

5-23 1/ 7/1988 

usnxs urr - run 

5. CO li 6/1985 


3i.0S 1C0-OO .6.875 IS,' 8/1993 
15.00 1971 BEATRICE HOODS 0/S 

1—98 1C0.O3 6.25 li !,'I991 

Z3.T0 1970 HTATHTPE FOODS 0/S 
p.Ti 1CO.CO 7-25 1/(1/1990 

30. CD :9:: sown a's cap 
jfl.OO ICi.OO S.DO 1/ 3/1992 


131 7/8 
3013 


u it 22 aw - •p g to -18 : to 80080 ’ 

U (00.00 1978 T/.IWHW;. .IS ****», 

7* 13.28 0* «aiA SD1107-65 SP BJ 31?' 3T 808 ta‘ 

lStoo . W>9 10/ U1W7 LX , fB MO 96ft- • 

*45 973899 HP » SIT -B 800 (03 

104.00 2979 51/10/1977 IX . L .0U9MV5 

I0 <0 MC -MJ1 SOtIM-n, » W 1« 

104.00 1983 1/ &/1977 LX . »2 960 9^ 

<0 » ..87 mi(99U' VP ID 

lM.00 1979 (/«» I* ’ ^«0 9». 


,73 aa.2B os 

iD+am' mo 


45 

104.00 2979. 


eO 30 
loo.oo 1979 


c.so e.<> 17-22 

6. Cl 5-80 134-00 
6.94 7.06' 

4.38 12-50 104-00 
3.89 6-29 

4.48 5.70 102dW 

9.09 10.93 
2-06 . 103. OB. 

7.6? S-82 
9.78 7-00. 104am 

7. (6 7.70 

6^3 7.90 I05.00 
6.00 5.37 02.93 
3.53 10.30 204am 

7.38 «.» ' 

A. 88 (.TO 103.50 


49 -3.50 

1H9 ■ 

'SO -2-1* 
1930 

30 -3.01 

1978 ■ 

48.39 

1971 

-.11 

1982 

.43 1»T3 

USD 

30 -2.39 

1981 

90 71.85 

19TB 


. 102.25 1971 . 


pia *« 

17/ 4/1978 IU 
f (93 TC- 
13/ 9/197* IS 
f 434.4* UL' 
1 1 4/1970 U0 

7 258 B 

V 7/W3 as 

p 90 .17 

1/ 4/1977 LX 
PMt VC 

V 3/1978 IS 
P 3*5 re 

15/10/(977 W 

P MW ■-SP 
16/ 2/1974 U 

7 333 K 
. u 1/1973 ZX 


15-327 35 ISO Mi 
«T 53S 940 43* 
' 940 KI-995 
V 94 210 219' no 
\ • ', OT9 . . 

SB 4SC *00 Ml MJ 


S-29S -»B03 901' 
m 551 >U 
960 «4- 973" 
ZD 346 T. AOO IBI- 
" is-'iWfle 
”960 *75 - - 
ID 362 W901968 
• 975 ■ 


I*:: 

32.20 :;3-co 


bows o/s 1 

tftT5 


25.00 19t5 SXTSCCl-lSnS C-T 

15.00 110.00 4.50 31.12. no I 

35.00 19T’ 330A».'A?-EALr STsl'IS 

X4.c? :oa.aa i.;5 12/ ». :987 

20.90 19(8 B30VX 6 SEALS E 

9-jo 100.00 s.io if 


BOP.RO'.'.ER' 
COUPON .'.tATUfinY 


(.28 8.48 
.89 102-30 

7.*4 9.65 

3.62 20.00 194 .90 

3.65 <0 

2. sz cam Z0I.M 

3.63 6-93 

*•71 7.00 101.23 

Ul (.04 

3.78 10.00 102.50 

6.91 7-98 

Z.iO 10.00 103.50 

7.A7 T./3 

Z.-O 10. 00 103.50 

7.79 8^96 

72-00 106.00 

3.99 i-TJ <0 
7.K 8.00 102.00 
«.M 9 .‘07 

6.70 9.00 103.75 

5.35 5.92 

6.99 6.00 102-50 

6.88 8.73 
2.04 6.00 (02.23 

5.32 (-43 

8.20 ;.oo ioi am 
4.57 4.66 
4.41 10.00 102.50 

1.55 4.23 <0 
(.41 10.00 1U-30 
5.5* A.91 <0 
4.(1 loan 13- -50 

5.36 3.66. <0 
4.(1 10.00 104 -23 
4.97 4-9( 

5.11 7.00 103-00 

6.32 5.98 %0 
5-68 7- CO 103.50 

3.7* <0 

3-0 11.00 100.00 

*. is a. *5 

5.19 8.00 102.00 

(."d 8.J* 

3.45 9.00 2C3.0O 


30 1(8.89 
1978 U13 

30 ■ 91.11 

»:■ 

60 -2.31 

1978 1 970 

. 30 23.90 

197! - 


. 3nr 49.70 
1979 DP1983 
. MC 41-16 

1978 BP 19*1 

90C .41 

1979 1911. 

10 -2.47 

1978 

30 112-11 

1978 

20 30-48 

1978 07)979 

30 . 72.18 
1978 SPU79 
30 31.86 

1971 BP 1970 
30 12.(3 

1978- 1982 

30 -.33 

1978 

JO 3.27 
1378 DP 198 1 

30 -3.39 

1978 DP1980 
30 8.17 


1978 0P1979 


SO ID PC m 4*3; .33-270 800 
1/1Z/19M VUX ' MS 948 9*0 
fB. 

(D 44, 1/2. K ZC (48 35 800 935 
1/ 3/1973 LX 9*0 9M 975 

80 31. 1/4 PS EB 313 33 *00 940 
15/3 1/1989 MX 9 tO 975 
3D 58 1/2 PG in 4SS 33.800 MS 
1/ 3/1169 U«: : .940 947.9M . 

- 97S. ..... 

re 40 PC Z0 tit 39 530 800 
15/ 5/1973 LX - 870 9» 9*0 
960 975 

re 47 ■- PS IB 339 : 33 BOO 935 . 

15/10/1972 LS ' 0*0 960 973 

re 37 PB B 359 . IS 800 9 33 - 
15/ 7/1970 ZX 94D 960 975 

$0 .7 1/2 PC ST 234 95 800 933 
1/10/1972 LX 950 960 973 

SD X V PC ED 456 3* *00 *40 

IV S/1969 LXST 960 975 

SB 52 1/4 'SD *C 443 35 SOD 933 . 

1/ 6/1973 UT '940 960 973.. j 

re 40 IB ZD +47 " 35 587 80^ 

v vi m mx 870 433 «M/- 

947 91P * £»* 
re 54.17 re re 381 33 boo 9 «£> 

15/ 1/1969 HSLX 9(0 960 9f~^ 
re 60 - K 80 447 35 BOO 9t£^ 
1/12/1967 mi - 940 9CO 9751 
SO 28, PS B *37 35 520 800 
.1/ 4/1,73 U *47 MO 973 

SO 22 3/4 PS re 488 860 935 947 
, 1/-4/WT4 I X 960 TO 

9B 22 7/8 PS ZC 437 XL320 870 * 

1/ 3/1972 U* *. 935 940 9(7 

960 ns • 

re 17 1/2 TC re 437 3S'93¥ 940 
ll 7/1921 IX . -.960.475 
re 31 1/2 >G m 456 35 520 *00 . 

V 7/(973 LX .870 933 9(0 : 

• 940 973 

SD 28 1/4 PC IB 436 35 520 870 ■* * 
15/ 4/1972 IT- ' 035 940 060 

... ' 975 • 1 ; 

SO 283/4 K 80 447 35 800 HO. / . 
30/ 6/1966 SZU . -960 973 . ' 

SO 41 1/S PS 30 "233 33 S20 666.*: 
IV 6/ 1973 IX - . 870 >33 940 - 

' ', ./'.■<*. '960 975 ■ *i 

*0 29 1/6 W 80 44T . 35 500 935 
10/ 9/1968 LX. 9*0 960 9ZS 


Id | s ' | t 

< ^ 2(5 E !■ 


!§5..i|5 ^ 
IS |.? PS 


(§£ S 


S £ a 5 “2 

It Ps 

ou fio 

Efe §£ is 
< z £“■ 
> u • F 


5 S', 

go ? 

Ss f market 
5®s> S MAKERS 

S ' 

§ 3 

a 


cosvwniuS'r.T. (ustu-lcd) 


:O.DO i.I.T. SE3AW TU 

20- GD 100-00 6.50 1 it 7/19(9 

25.00 1968 JQEAXXA5 LCCA5 0*5 

:..M lOu.QQ 1/6.1933 

30.00 iPtJ EAiSBx Ana * cflEi rra 

M-50 lOO-SO 5.00 V 2/1988 


8*5/8 7-iS 8.08 30 

31 1/8 6.43 7a>0 104 .DO 1978 

84 5/8 5 ^9 8.78 90 

13 7/8 4.32 9am 10ia» 1978 

86 3.90 7.1* ' 30 


is.™ mi me REsaatss cap , 

15.20 100.00 5.73 U1Z/19M t 

23.10 19(8 mSCO'WHU) TEADS ? 

12.66 200.00 S.DO 13/ 6/19*8 

*0.00 1969 LZASCO 1ST 

15.26 100.00 5.00 IS/ 1/1419 

15.00' 19(9 LEnS-TWXSEBD LSI »UI 
1-. 00 100-00 5.00 1/ L'l^a I 

60.10 796* LTT I FTSISATTOIUL 

59.95 100.00 5.00 1/ 7/1908. 

30.00 196* w« tr y RUTLAJ® 0/5' 

30.00 100.00 S.DO 15/ 5/1 IBS 

13-00 1973 JOESIOTT 
9-55 100.00 5.00 15/ IC/ 1988 

3Q.00 .19:3 HUGO 

30.01 100.00 4.’0 31/ 1/19M 

25.10 1972 JIASSPCTCAL WICB JEALTT 

Tr .00 100.00 6.(5 15/ 7/19*7 

30.00 1912 j.iat ioeewtt 

15 JS 100.00 A.?S 15/10/19*7 

15.00 1)H MS' CAP 

15.00 100 -CO 5.50 U 3/1919 ■ 

15.00 1961 BUBS BT 

12.33 100.00 *.?5 15/ 6/1993 8 

TC .00 1972 TOBACCO 1X2 

20.00 260.00 5.00 15/ 6/1997 

25 jo 1963 HSSAZTO OTT . 


1/ 2/ins S 32 3/4 (-89 6.00 102X75 1978 
.!S CAP UZ 5-20 4.36 <0 30 


LIZ 5-20 4.36 <0 30 

103.123 1978 

90 3/8 5.52 8.3P " 30 

32 S/I 3.68 Sam 101.50 1978 


SS.Gl re 55 75 D 44X 33. 520 %0ft 

1/ 2/1970 XT.. 870 935 94* 

-960 975 

4D 54J9 PS ZB 41* 3* 800 9X9 
13/12/1968 1ZSZ 940 960 975 

»J3 80 (9 1/4 PS ET 411 33 920 809 

1978 1/ VlSM.mX. 935 940 940 

975 ' 

-- - 40 28 PS ED 23 800 nS 977 

1579 15/XV19S9 IX 

13.53 re. 40.8 PC CD 361 3* 800 940. 

1979 15/ 1/1969 BZLX 973 


80 V4 6.79 7.71 


32 Si 8 3.M sain 102.00 >978 
41 12.37 18.A9 .- SO 

102-23 _ 1978 

62 7/9 7.93 11.37 ’ SO 

9 1/8 103am 1378 


'30 53aw re - 62 zc re sn 35 aoo 94* 


0D. 40.92 PC BD 327 800 973 
1 J 3/1969 IAS 

«B (6.12 PS CT +4? 35- S00 9S 
1/ 2/1969 BTLX 9(0 960 975 


9 1/8 103am. 1978 1979- 1/ 2/1949 BTLX 9M» 960 975 

80 *. f.25 7.99 30 JR3.J7 to '40 - PS OT *11. 35 520 MO 

15 3/4 5.09 11-00 101.50 U78.DF197B 13/12/ 1168' H\I IBS 933 940 940 

73 (.67 0.78 30 7J.J4 4» 29 Jl SD ZO *47 S » SOD 935 

11 3/4 .94 11.00 I02.6Z5 1978 - 15/ 5/1974 U , 940 9k0 975 


S3 V( 5.37 6 X5 30 

30 3/4 1.93 11.00 iqi.SO 1978 

B6 V8 7-al 9-04 90 

13 3/4 9.02 11.00 104-00 19Tf 

176 1/8 2.70 *0 » 

30 7/8 3-24 3.20 102.50 1978 

66 5/8 9.(3 11.06 30 

11 3/9 18.00 102.50 19TB 


83 5/8 5.76 4.57 30 

102.65 2973 DP197S 
79 3/4 C.V 8.27 30 : 

14 1/2 6.21 9.00 10Z-30 1978 


30.17, to . 32 1/4 SC » 485 35 270 *00 
" li 1/1973 IX ' '-MS '940 940 ' 
975 ' 

102-00 to 33 1/4 rare 361 15 BOO 940 
«/ 3/1973 LB 960 9/5 -. 

-4-43 to 16 5/4 'SO 80 485 33 2/0 870 
li 5/1913 IX 935 9(0 960” 

975 

90 82 PS BB 346 35 800 940 

1/ 1/1970 IX - 960 975 
_ • OC, 62 PS BD 361 33 SOD 940 

W1978 V 1/1969 HT 960 975 


15/10/1995 8 30 lil -6-34 7.00 100-00 1978 


50.00 1977 J. P. HDBS4V O/S CAP 99 1/4 4^9 1.35 - 30 

30-00 100.00 4.25 15/ VU87 49 4.49 9-00 102.50 1971 

30.00 1568 HOnactA or. 114 3.95 1.61 <0 30 

' 6.91 100.00 4.50 '1/ 7/1983 AS 7/8 S-18 13-00 101.50 197! 

30.00 1968 KKISCO HT FIB . . 101 5/8 *5.17 3.03 90 

.to.Ol lOOam - 3.25 V 3/1968 49 1/8 5.61 10.00 102.23 1771 

7.00 1967 hattokal cab O/S '. SI ■ 6 7.43 IOC 

1.37 1DD-DQ 5.375 1/12/1987 0 18 3.56 U.OO 103.2T 1971 

29.00 1968 rema O/S 87 5.53 7.82 30 

6.93 100-00 4.75 [5/12/1983 8 26 1/4 4.57 9.00 101,75 1971 

25.00 1972 CBZBS- ILLaoTS ISC . 113 3/8 3.96 2.78 *0 JO 

16-00 100.00 (.50 U 7/1987 30 3/9 2.63 2.M 103-00 1978 

30.00 I960 P4> ABericAX o!S 79 1/8 6X6 8 JS 30 

30.00 100.00 5. 23 1/ 9/198* 6 5/8 - 6.00 103-00 397( 

25.00 19b 9 M. PWHZr ESUPB ' 95 5/8 6.27 6.35 30 

22.10 100.00 6.00 VI V 1989 36 3/4 4.79 8.00 103-50 197> 

35.00 1972 JX. PSSBH BT IU(' 78 1/8 3-76.7.95 30 

35-00 100.00 4.50 1/ B/I987 36 3/4 4.79 8-00 103.00 1971 

10.00 («69 FLAjorns XKKAICH SBT 87 3/A 7.41 9. 05 30 

ID. OD 100.00 6.50 15/12/1984 6 3/4 10.00 103.75 197! 

8. 00 1968 nXWHMXAWlOS UT- 96 5.47 6.3S 30 

8.00 100.00 . 5.15 15/ Z/1183 Z1 5-24 7-00 100.00 1971 

10.00 197! liMOA CAP 84 1/2 7.40 8.93 30 

7.00 ( 00.00 B.Z5 15/11/1916. 5 5/1 S.IF 17.00 103-00 1970 

50.00 1968 BCA-LPT. 84 3/« 5.93 7.M 30 

50.00 100.00 5.00 U 2/1938 27 5/3 5.07 8.00 102.50 197S 

uam i9« imn rex fib ' in 3.52 <0 30 

21-16 100.00 . 4-75 15/ 6/1983 8 46 2JI3 IS. 00 101.50 1978 

50.00 1972 BTIUS IK 1/8 ( J» 2.68 ' <0 30 

38.» 190.00 4.73 13/ 4/(987 ’ (6 Ml K-00 103 J0 1978 

30.00 196B UtBOLOO 1JETAL9 CAP. M 3/4 3.15 (.97 » 

50.00 LOO.OO 5.00 1/ 6/1984 ■ . II DI 4.76 9.00 101.30 WTO 

12.10 1972 SAXDB nSDDETXTK 75 5/8 7.73 10.00 ’ 30 

12. SO 100.00 5.73 31/10/1907 8 * 6 1/2 * 10.00 103.73 197* 

i5.oa 19(9 sen arnsEAs cap.coif. tn i/s 6.32 7.6O 30 

14.99 100-00 5.25 1/ 3/1969 18.7/8 5.30 3.00 102-23 1978 

15.00 I960 SEAZLC BT 94 - J.05 5, si ■ w 

15.00 200.00 4.73 1 Si 5/19 8* 14 V4 3.63 102.50 1971 

30)00 I9T2 SOD1HLAM3 FB Wrt 5-44 4-70 TO 

ream loo.oo s.oo 1 si 7/19*7 28 1/2 2.53 12.00 109.se 197a 

60.40 1973 nan raab 92 4.62 s.m m 

ooam ioo.do 4.zs 13/ 3/MB *1 1/2 2.70 aaio 101am un 

soam 1972 aquiBB nr pip bo j/s s.m 7.74 so 

■00.00 100.00 4.25 13/ C/1387 22 1/2 3.71 11-00 102.00 1978 

75.M 1968 Tania anxAnags-iaan: so 1/4 saw x.O . » 

25.00 100.00 4-50 ■ 1/ 7/1988- S 24 3/S 8.12 8-00 lOZaU 1978 

7.00 1969 T8ZBN0 ELZTTMR HT 86 1/2 1.09 J0a»7 30 

7.00 100.00 7-00 V 7/1384 21 5/8 20^00 104.W 1378 

10-00 1968 TAB TJTT 90 1/8 5.35 6.40 30 

10a» 100.00 5.00 V V19M 38 . 4.7*' 8a» 102.25 1978 

23 aw 19(9 7700 ST PIS 78 3/8 S-A8 10.29 30 

22.00 100.00 5.00 V 3/1J84 f 19 l/l 2.03 3.0Q 102-00 1078 

so.00 '1967 mure caudr urr ' 9* 1/2 5.09 6. so so 

38^2 100.00 4.73 V 7/1382- * 39 7/8 7-01 Jam 100 am 1378 


4.49 9-00 182*50 1978 


2-1* 13.00 101 am 1978 


101 5/8 *5.17 3.03 


49 V8 5.62 10.00 102.23 1 77* BPI979 15/ 9/1568 BTLX 870 MS 9(0 

(.27 7.43 9 DC -9.62 0V 18-7 PC 80 37* *35 MO 948 

3.56 u.oo ins.sr an u Wi9« lx i7S~ 

5’52 7, 5J ... .. 30 M * 4 ® re *9 . re re *i8 aim 975 ' 

4.57 9.00 101.75 1978 15/12/1969 LX 

M5 ,«* 2,23 ?? P 1 * 35 *6 86 308 SB 530 879 . 

2.62 2.60 101-00 1978 1/ Z/1973 li - 935 9(0 W 

. 960 975 

6-6* SiSS 30 90.74 'to 15.97 ES to 447 35 NO' 935 

• 6.00 101.00 1978 nr 1978 1/ 5/1963 LX 9(0 947 960 

f'12 S'25 «■'> re, 5* i/2 p* re m *is m sb 

4-79 8.00 103.50 1970 1/ 7/1970 LX '940 960 973 


:« lit 4.57 9.00 101.75 1978 

IU 3/8 3.96 2.78 *0 JO 2.23 

30 3/8 2.62 2.60 103.00 1978 

79 1/8 6.6* 8-33 30 90.74 

(Ul -6.ro IDS .00 1978 Of 1978 

95 5/8 (.27 6.55 30 42-81 

36 3/4 4.79 8.00 103-50 1970 


78 VS S -76. 7.95 30 

36 3/4 4.79 8-00 103.00 1978 


5.24 7. DO 100.00 1978 


84 1/2 7.(0 8.93 


5 5/8 2.13 17.00 103-00 1978 DP19SO 13/ 7/1572 LZ 


27 5/3 5.07 8.00 (02.30 1978 0719 n 1/ 5/19(9 KLX 


30 165.75 So 48 1/2 FG OT *56" 35 800 933 
1378 - 15 i 3/197J IX 940 960 975 

.39. re, 86 K re 399 35 520 809 

1978 1976 V 5/U66 XT 935 9*0.947 

_ .. .. . ..... 960 975. __ 


3JJ to 52 V4 PC 20 15S 35 520 800 
15/ 6/1973 tX , 870 935 940 
_ • - 960 975 

-1*» to. 3.683 IC IS 410 35 800 940 
1/ 2/L9C9 UR 973 ' 

4-47 to .50 1/1 PC re 445 35 520 800 


78 J7 08 M PG FI 441 -35 520 800 


10.00 103.73 1578 UP 1977 13/ 7/(970 XT 


LX 070 935 940 

860 975 

K B 485 35 IK BOO 


22.29 to 26 5/4 K to 239T 800 SCO 975 
1979 U V19» IX . . . . 


“ 23?2S re. J?*” « W *54 35 800 940 


67.99 to 55 


PC n 447 33 . 35 520 


46 2.83 14.00 101.50 1371 

IK 1/8 (.09 2.68 ' <0 30 

' *6 Ml 14-00 103 OU) 1978 

M 1/4 5.19 (.97 SO' 


0*19 W 1/ 5/19(9 KLX 8N 870 9 S3 
9*0 960.975 

•53 to, 34 .PC re 346 J3 520 870* 

2/ 1/1969 LS 93* 940 9*F 

“33 to 39 V* PS re 348 JS 520 870 

V 1/1973 li 9H 940 9*7 

• -9*0 ns 

33l2? f?. *‘*7* PS ED 399 SS 520 BOO 


31 U3 4.76 9.00 101.30 M78 DM979 11/ 3/1969 S*LX 


75 5/r 7.73 10.00 30 74-32 

■6 V2 * 10.00 105,73 1978 1981 

B/1 lit (.32 7.60 30 105.00 

18.7/8 5.30 5.00 102-23 1 978 DM979 

9* . 5.0* 3.53 ' ID 20.99 

1A I/A 3.65 102.50 1978 1983 

FB 5/8 5-64 6-70 30 28.73 

28 1/2 2.53 12-00 103.50 1978 
92 4.62 5.32 10 U->7 

4i 1/2 2.70 a -O b inlaw wie 

80 1/8 5.19 7.74 30 (0.80 

27 1/2 3.71 11-00 102.00 1978 


M 1/2 1.09 1 0.07 30 

21 5/8 20.00 1D4.J0- 1378 U1977 IS/ 1/1970 li ” "" ”T _ ' 

SO 1 la 5.95 (.40 30 24.51 8D 52 1/2 EC ZB 48S 39 27D m 

38 4.74' 8 a» 102.25 1978 1978 V 2/1969 U 9» 9AO 839 


.970 Otitil 41/ 3/1969 KLX 933 940 947 
960 935 . - 

™ 7 f:2? £?. ^ SB US 378 35 sot) 9M 

1978 1981 30/ 4/1973 IX 9417 960- 975 

25. 125sSS S ?. **-55 PE 80 235 13 15 Bim 

978 DM979 1/ 1/1970 KLX 9J5 940 975 

X. *?. 1 f' M3 w W 4*5 XTO- M0 »» 

978 1983 1/ 1/14*9 LX 973 

W 28.72 to- 40 3/4 SD xn" 454 35 800 435 
OTS li 2/1313 TX 940 940 775 

M 14.17 .to 51 1/2 SB ID 233 35 520 too 
970 15 1 3/1574 U 870 935 940 

» (saw to 57 p* « as 9 S IS mo 

978 15/ 3/1973 IX . 870 935 9*0- 

30 44.21 • SB 44 1/4 PC 0 4M U5 KO loo ■ 

978 . 15/ 4/1969 n 870 935 940 

947 960 |79 

S. -29:52 1 ?F. *5 - M ** **? wo-stj 


30.08 1969 yn.TFH mm r ror • 

50.00 ino.M saw u i/l&aa 

15.00 19(8 BID IDODI fl/S 

15-00 100.00 S-75 VU/U88 

is.00 *19(6 nxmaHLumu 

1.20 100.00 4.23 li I 

30.00 -1970 7U7U-UUII? 

30-00 100 .00 4.23 1/ 4/1080 

Kfl/M 1571 mro-rwit 
40-00 loo.oo *aw u 4/1587 

zd am Hu una-uMH 
7,si uraan 4. so v s/m* • 

’73-00 1973 XDUlZ CORpaUSM . 

75.00 umaw s.to 1/iS/lM - ■ 


71 3/8 (-48 10.29 30 1(7.180 to 41 1/2 m w .4. w hm . ,, 

19 1/2 2.D5 a.oq 102 am 1978 1/11/1969 AB O W 973 

HYil *?% jjo imam A *?/ %i% ZZ ** & S S? 

ss# is (.m imjo iin«ds 

72 V* 

12 lOleTS 1971 Vlttl 1/ 6/1969 IQS . 940 SM 973 

^ JiS" nan iro aw U7> "**” *?/ 6?i9» m? ^ n°o *3 

2 7/1 ?4| ,Z*“ ® s* 4 ** re « i/a to re.u* si i» aw- 

30 4-00 12 aw 103-30 1978 1/ 4/1976 CT 830 935 940 

S l:S £3 m. *■*•' t'jfn„B-“3a3 
■S 1 " 13^3,^15 ,?i 

T, m t£&Zuui VSbhS^^SS- 

: irartv.;' 


:V : '' 






1 



. This announcement an rear* „ r , „ , 

4 F ear 3 «zr a metier of record only. 

COMMONWEALTH 
OF AUSTRALIA 

Ms. 300,000,000 
10 year Fixed Rate Bankloan 

managed by 

amsterdam-rotterdam bank n.v. 

provided by 

Amsterdam-RoHerdam Bank N.V. 
Cooperative Ceritrale Raiffeiscn-Boerenlecnbank B.A. 
(Centralc Rabobank) 


June, 1978 


: b;; j ». •• • 

^ r- , _ n 

INVESTMENT FUNDS 

The following- funds include Eurobond 
issues within their portfolios 

Quotations & Yields as at 

31st May, 1978 

' * - " ' 

’ r. ... - 1 

SOCIETE GENERAL De BANQUE 

BANQUE GENERALE Du LUXEMBOURG 


Rentinvest 
Capital Ren rin vest 



, 1977/78 

. High Low 

1975/78 

High L 

OW 

Reminvesc 

Capital Rentinvesr 

I LuxFr 917 'LuxFr 839 
| LuxFrl350 liixFr 1221 

LuxFr 917 LuxFr 
I.LuxFf 1350 LuxFr 

8 J8~ 

984 


EXPLANATORY NOTES AND ABBREVIATIONS 


.STINGS 
V = .J 
VI- = A 
5 = J 


Antwerp 
Amsterdam 
American Stock 
Exchange 
Brussels 
Beirut - 
Dublin- - 


Dtixseldorf : 
Frankfurt ." 


S London- ■ 

5 = Luxembourg 


5IL = Milan 

iW = New York 

' PR = Paris 

RM = Rome V ' 

SI = Sinsapurp * • 

UQ - Unquoted 

VN = Vienna . 

ZR =* Zurich A- other Swisp 
Exchanges- -y 

DELIVERY ; . c : . 

* *EU .- ■ Europe . "• e?sr 

EN = Europe/New York 

•-‘NY • -= New York 

EA = Europe/ .Asia 


COUNTRY 


ISSUE/COUPON/MATURITY EXCHANGE RATE 


YPE OF GUARANTEE OR SECURITY 


GUARANTEES 

G = . Government 
-Guarantee 

» =.. . State or Local G.oyt. 
Guarantee 

-G == ‘ ‘ FaYen't Guarantee 
G - Bank Guarantee 
IV '«= -/'These borrowers 
‘ ^ha«e Public Works 
Loans, Board .as . ‘ 

. - -..lender of last 

ircsoct-.- . . • _ ; 


2. OTHER SECURITY 
CL =5 Collateral Co 
FM = . First Mbvtsai 
NP =#.■ Negative Pier 


Collateral Cover 
First Mortgage 
Negative Pledge 
Subordinated- 
Parent Guarantee 
Special Clause 
Subordinated 
Unsecured 
Unsecured Loan 
Throughout 
Agreement 


Jusco 6 

Kao Soap 6 

Komatsu Manf. til 

Komatsu Ltd. 71 

Kubota fij 

Mumi 6} 

Matsushita Elec. 6J 

• Mitsubishi Elec. 7 

Mitsubishi Elec. 7A 

.Mitsubishi Gas Che'm-.B 
Mitsubishi Hvy. In. 6} 

Mitsubishi Corp. 8 

Mitsubishi Corp. 71 

Mitsubishi Corp.- 61 

Mitsui it Co. . . 7i 

Mitsui A Co. 8i 

Mitsui Real Estate 6. 

Nitto Elec. Ind. 6 

Pioneer Electric 61 

Ricoh fii 


1992 Yon 277.4 
1902 Yen 2M II 
1984 Yon 360 0 

1990 Yen 29421 

1991 Yen 303 0 

1991 Yen 299.0 

1990 Yen 303 0 
J9S5 Yen 380 0 
19S1 Yen 305 5 

1992 Yen 272 0 

1991 Yen 305.55 

1992 -Yen 267.0 

1990 Yen 294.0 

1991 Yen 3010 


Sanyo Electric 6i. 


7* 1990 Yen 299.0 
81 1989 Yen 299.0 
'6. 1992 Yen 267.8 

6 1992 Yen 284.13 

61 1989 Yen 280.0 
fi{ HUH Yen 295 0 
6i 1991 • Yen 293 55 
1990 Yen 302.17 
tii 1992 Yen 243 0 


; PEC1 ALr-Rf3FJERENCES - 

GENEF^L-tA^ACHED TO NAME OF BORROWER 

• -== .Doipestfc 'Management group ■ 

*=. ' Bondholders option to-redeem loan prtor Co maturity 

- =„ Prt\-Ms 4jr..semi'priv3te placement - 

:fC ■■= -T’r.ihcjpal/Interest payable in more than two currencies 
r .. ■4^' ^Withholding taxes <with percentage rate %) 

Variants ! • - -- 

W :Sr :.'faT>iferra^ltS _ ' 

. £/DAtissaLH^ v 

.be -figures - shuwii- are "the fixed .£/DM parities which prevail over 

- ie issues. ■; • 

' FLOATING EATE -ISSUES ' . • 

be figured ©ken are the minimum coupon rate: 
.i.ragf^nr-abt^p.XlBpR^; . 

■' ATTACHED^Tb' MATURITY DESCRIPTION 
- payments 

ATTACK NEXT s/f amount 

-P . jl^rchase; fund— th e amount shown is the 

-• i . . : V tV. tpt-fotaf 'lo the next coupon date), winch may be aPP' ,<? “; 
, ' associated with the amount show n relates to- 

■ . ^-aie ehd^Tth'e purchase period mvments 

-P option to‘ double sinking lund payments. 

- ATTAiSCED ' NOTICE. (DAYS ) 

' ’ coupon dates^ ( ^ 

- any time 


S. AFRICA 
.SWEDEN 
■ OJC. 


• " Sanyo Electric 7} 1990 Ycn302.17 = S1 

Settsu Paperboard tij 1992 Yen 243 0 =S! 

Sumitomo Elec. fi 1992 Yen 267.0 —SI 

• Sumitomo MetaT 8 1992 Yen 287.5 -SI 

• Takeda Chemical 6 1984 Yen3R0 0 =S1 

Tokyu Dept. Store ' 6 1992 Yen 286 0 =$1 

Toshiba 61 1992 Yen 254.0 =S1 

Toshiba 61 1990 Yen 295 8 =S1 

NETHERLANDS Ennia 1992 D FI. 2.4565 =|l 

SINGAPORE All other issues 71 1991 Si 2.44 -it 

Dev. Bk of Singapore 61 1988 SS2 32 =$1 

• ■ United Overseas Bank 81 19S8 SS2.32 =Sl 

S. AFRICA' Rand Selection Corp. 6} i960 RD 0.7143 = *i 

'.SWEDEN Sandvik . 61 1988 Swly-4..825 =21 

UJC. Babcock Nederland 7 1992 10 . 4 = 81 

- BeeSham Fin. 6) 1992 £0.574 = S1 

Bunn ah on 5J 1988 £0.417 =$1 

: • Burton B.V. 5J 1992 F.Fr.11.8825 =S! 

Compair (UK.) 81 1987 £0.582 =81 

ICI Int. Fin. 6} 19fli £ -Si 

Inchcape (Bermuda) 6) 1992 £0.582 —St 

Bank Organisation 4i 19W £0.42n —SI 

Slater Walker 5} 1987 I0.3S5 — 551 

' Union Bank of Swilrerland tLus.) 5% 1981 differe from other 
. convertibles in that the bonds are denominated USSU5U and each 
bond is convertible into 1 Bearer share of b.Frs.aOO nominal value 
of -UBS. - 

Credit Suisse (Bahamas) 41% .1991 differa from other con- 
-vdrtibles in that the bond is denominated UbSlhOO and each bond 
is • convertible into 1 Bearer Share of S.Fr.500 nominal value of 
Credit Suisse. ^ ...... 

The following convertible issues have conversion rights which 
. expire prior to maturity: 


1992 Yen 267 0 =31 

1992 Yen 287.5 =Sl 
1984 Yen 3R0 0 =S1 

1992 Yen 266 0 =$1 

1992 Yen 254.0 =il 

1990 Yen 295 8 . =S1 
1992 D.FI. 2.4565 =81 

1991 SS 2.44 =St 

1988 $S 2.32 =81 

19S8 SS2.32 =$1 

1986 RD 0.7143 = SI 

19S8 SwKr4.7825 =S1 

1992 £0.574 =Sl 

1992 £0.574 =S1 

1988 £0.417 =S1 

1992 F.Fr.11.8825 =SI 

1987 £0.582 =S1 

1997 £ =S1 

1992 £0.582 = St 

19H3 £0.425 =81 

1987 £0.385 =81 


1992 £0.582 
19'.I3 £0.425 


' . NEXT .CALL ■ . 

;JONYEKtIBL^&SiiE3 ONLY) ' . 

* • • K.cirlrtion'eoverpfd by a fixed relation- 

.. • 'pfice and the -conversion prtc . 


NAME OF BOND 


Asahi Chemical 
...Dai Nippon Ptfi. 
■ Hitachi 
‘ Mitsubishi El. 

T Rand Selection 
.- Takeda Chem. 

. Toshiba 


3L\TURITY 


30/9/1990 
31/5/1986 
SO/9/1 9S4 
31 '3/1985 
1/3/1986 
31/3/1984 
30/9/1990 


CONVERSION 
RIGHTS 
EXPIRE 
15/9.1990 
3U-4 1986 
31 -8/ 1984 
28-2/1985 
• 31 1/1986 
28-2,'l!«4 
15. 9 1990 . 


!-■« «w«* «• « w * rt, “ ,gp 

. CONVERTIBLE INTO . 


fng7 ilinnesota Mining t 


*55' T98S »• - " 

S Warner cwnnunjcatfons 

Reliance Group Uic. 


10. DENOMINATION OF NON-DOLLAR BONDS 

" ■Euro-guilder.s — all denominated FI ttl.ono 

• /: French' Francs— all denominated Ftr. 5.omi 

■- ' with the exception of 

- AeroSnatJale Fir. lOjWO 

European Coal & Steel 7% 1980 Ffr. 10.000 

■ .'European Coal & Steel 7i*& 1UH1 Jr- 10.000 

■ ■ /• Erancalse de Pelrolesr— BP Ffr. 10.900 

"•■.'Fhil'ips Lamps 10 1% 1980 Fjr.50.00il 

.r :_Roussel-Uclaf J.J r - 

SOPAD • Ffr. afl.000 

; 1 STERLING -DEUTSCHE MARKS * 

Enso-Gutzeit 8J% 1080 n_00: £500 

' Id 8% 1986 XoOO 

v. ; trelan d 7% 1981 ^00: * 

• . Ireland 7% 1988 -f500 

V;' -Met Estates 1987 £500 

" New Zealand 6J% 1983 mo:£4ort 

-..v .New Zealand 7J% 1978 EJW £500 

:v Rothmans Jot. 6i% 1992 loOO 

r *'.- Sira Kvina 7\% 1983 £100: L.00 

; ; ■ -. .Slater Walker 7 j % 1987 £*00 

1 Swedish Lamco 1980 £190: £500 

: Turin 61% 1984 £10ii: £»(hj 

. US Rubber 6% 1989 £100: £500 

-11. yield CALCULATIONS 

AH Yields are calculated on annual rates eg. a 10% bond standing 


'Tir: -■ ii- - iybi uwsu« - — : 

qiamf»o« tot ■ of 
T^rriih'njii convertible issues have 

t? aTE 


EXCHANGE 
« FfY. 5.5»4 
g FFr.5.554 
w SHK 5.07 

% %SSB 

in?? X«SS 


^flSWarChBBied-- .gs -2SK Yen 282.0 

aauM I, -1M6 Yen .mo 

-ZM^appan Frtct^ H yen soo.o • 

•SNHeU&e HI -j. |. ]qgi .Yen .301-0 

~ awa'House^nd; . I* : ?K Yen 360.0 

fecW’-Efd. 

^^dkoshto Electric 

JMSgSfjaf?' 


1991 Yen 301-0 

s iass 


■s 

= S1 
= S1 
= SI 
= S1 
= 51 
=S1 
=S1 
' =51 
SI. 

= S1 
= S1 
= SI 


bonds is calculated as coupon 'price. 

12. MARKET MAKER COLUMN*** 

-This .denotes that more than the maximum number nf niarkpi 
-makers have provided prices (12 for the straight bonds and 9 for 
-the convertibles). 

' 13. -OTHER NOTES 

- The amounts- shown as remaining outstanding are estimated by 

- 'applying the scheduled sinking fund -instalments. These are further 
adjustM where a nun-cumulative option to double sinking fund 
payments has been exercised. 

-Yields , axe- calculated in accordance with Rule 803 of Statutes 
By-Laws. Rules and Recommendations of the AIBD using compound 
interest throughout. Negative yields- are not shown. . 

The maturity, average life and first cull yields are adjusted to a 
: 360 day. annual rate. 

-Yields to next call is shown on the basis that the borrower gives 
■notice -that he .wishes to call the bond as soon as possible after the 
. dare of .publication of this list. 

L Yields on Unit of Account bonds are computed by adjusting the 
Investment ' proceeds for the changes in relative panties of the 
currencies comprising the new and old unit of acroum formulae. 


STRAIGHT BONDS 


SUMITOMO FINANCE 
INTERNATIONAL 


MARKET MAKERS 

Specialising in 

Japanese Straight and Convertible Eurobonds 


j Current! Yield ^ rrtWFRTini r- rdyt^ — — Ip-riw, Current! Con. 

! Bid, Offer Yield Maturity CO-NVERTJBLE BONDS Bid I Offer Pant > Yield iPremiui 


9 

99’ ; 10 
96; 9 


o 

! 0.1 
[ -12 


139 14U.1 



Teieplimm; ii’-l9Hi 5645 
Telex: ssinu;: ,s I'M FIN g 


68 Gresham Street, London EC2 TEL 


Reuters Monitor =SFB-\-B 
AIBD Market Maker No. 962 



$1 75,060,000 Five Year S.45% Bonds Due 1983 
$75,900,000 Fifteen Year 9Vs% Bonds Due 1993 


Iniar«t payable -Jvr.cl and December l 


MORGAN STA NLEY & CO . 

Incorporated 


TffE FIRST BOSTON CORPORA TiOS 


GOLDMAN, SACBS & CO. 
SALOMON BROTHERS 


MERRILL LYNCH IVlfiTE WELD CAPITAL MARKETS GROUP SALOMON BROTHERS 

.If. t f.'V /.Mi i f.i. /■» rrier .L- >rirf\ </ 

. \ TLA XTfC C. I n 7. i L IS. t CUE H. 1 LSE Y ST l A R T SHIELDS B LYTH EASTMAN DILLON & CO. 

' Carpordlvn Incorporate Incorpuruti d 

DILLON t REA D £ CO. INC. DR ENEL BVRXH. t V LAMBERT E. F. HUTTON & COMPANY INC. 

Inenrparnh d 


KIDDER, PEABODY & CO. 

/ nairpoi^Ui i 


LAZARD FRERES & CO. 


j /noirpan.:id 

j L OEB RHOADES, HORN BLOTTER & CO. 

SMITH BARNET, HARRIS UPHA3I & CO. 

Incorporated 

7, 'ERTHEIM & CO., INC. 

ABN HOLD AND S. BLEI C H ROEDER, INC. 

SC GEN -SWISS INTERNATIONAL CORPORATION 
P. \ IWA SECURITIES A MERIC A INC. ROE 


LEHMAN BROTHERS KUHN LOEB 

Incorporated 

PAINE, WEBBER, JACKSON & CURTIS 

. Incorporated 

WARBURG P.ARIBAS BECKER 

Incorporated 

DEAN WITTER REYN OLDS INC. 
BASLE SECURITIES CORPORATION 
BASQUE NATION ALE DE PARIS 


ROBERT FLEMING 

/n.'tirpprntivi 


HILL SAMUEL & CO. 

Limited 


Iii. EINWORT. DENSON MORGAN GRENFELL <£ CO. NET/ COURT SECURITIES CORPORATION 

■Ineorporal^L Limihd 

TUEMKEO SECURITIES CO. NOMURA SECURITIES INTERNATIONAL, INC. ORION BANK 

International, Inc. L.iniUd 

SCAND2NA VI AN SECURITIES CORPORATION J . HENRY SCHRODER WAGG & CO. 


SQCIETE GENERATE WEST DEUTSCHE LANBESBANK 

GIROZEN T RA LE 

Y. i MAICHI INTERNATION. \ L (A MERIC A), INC. THE BANK OF TOKYO (HOLLAND) N. V. 

BASQUE ARABE ET INTERNATIONALE D f INVEST ISSEMENT (BA.IJ.) 

C I fSSE DES DEPOTS ET CONSIGN A TIONS JBJ INTERNA TIQNAL 

Limited 

KUWAIT INVESTMENT COMPANY (S. A. K.) AUSTRALIAN UNITED CORPORATION 

LtnnUd 

c. i ZENO YE INCORPORATED ORD MIN NETT POTTER PARTNERS RESCUE & CO. 
STRA USS , TURNBULL & CO. J. B. WERE & SON BAER SECURITIES CORPORATION 
BA YERISCHE VEREINSBANIi BERLINER HANDELS. UND FRANKFURTER B.INK 


JBJ INTERNA TIONAL 

Limited 

AUSTRALIAN UNITED CORPORATION 

LtnnUd 


BAYERISCHE vereinsbank 
CREDITANSTALT-BANKVERE1N 
MITSUBISHI BANE (EUROPE) S.A, 


LEPERCQ, DE NEUFLIZE & CO. 

Incorporated 

SUEZ AMERICAN CORPORATION 
NEW JAPAN SECURITIES INTERNATIONAL INC. 


renews- und westba nk new jap.yn securities international inc. 

■lUicnpcreUretinll 

NIPPON KANGYO KAKUMARU INTERNATIONALJNC. SANYO SECURITIES AMERICA INC. 


LTRAFIN INTERNA TIONAL CORPORATION 
























22 


The following Tombstone announcements were published in the Financial Times during May 

1 Tomhslone PuSilksilon j TomMon* 

KUiilJh daie «iM P 

JL 9 JL- ^ KJ I m»... -<• t- . er- . .tr-r,-7irr V* t! 3U/5/7A I . li-.-.t III r Vli I 


Tombstone Pavlication 

date dal * 

5/4 78 INDUSTFIAL BANK OF 3/5/78 
FINLAND LTD. 

15.000. 0Wi European Unns 
n[ Account 

7‘n Guaranteed Bonds 19=3 
Krodietbank S.A 
Lusembuursooisp and nihors 

I4/4/7S 1 SH 1 K A WA.fl M.VHA R 1 M A 3/5/78 

HEAVY INDUSTRIES CU. LTD: 

550.000. 000 

Guaranteed Floating Rale 
Notes due 1985 
First Boston [Europe) Ltd 
and others 

27/4/78 1C INDUSTRIES FINANCE 3/5/78 
CORP. N.V. 

USS35.000.000 

9*\, Guaranteed Notes due 1985 
Merrill Lynch Inti. & Go. 
and others 

3/5/78 POST-OCH KR ED 1TB AN FEN 3-5/78 
DM 100.000.000 
5 i'7> Bearer Bonds 19SS 
Dresdner Bank AG 
PR Banken and others 
WHITBREAD AND 4/5/78 

COMPANY. LIMITED 
£I5.tJ0n.000 

lOt^i I Foreign Currency 
Bunds 19W 

Kleinwort. Bcosnn Limtted 
and others 

Apr. 7S PROVINCE OF 4/5/7* 

SASKATCHEWAN 
US$1 25.000. nun 
91 '7, Debentures due 1'ons 
Salnnion Brothers and Miners 
5/5/78 ELF AQUITAINE 5/5.78 

DM 100.000.000 
51% DM Bunds 1978 SS 
Deutsche Bank and ulhers 
4/5 78 UNITED OVERSEAS 8/5/7S 

BANK LTD 

15525.000. 000 

Floating rate Notes du* 19 4 " 

Chase Manhattan Lid. and others 
4/5/7S GENERAL MOTORS S/5/7 S 

ACCEPTANCE CORPORATION 

5200.000. 000 

S:‘7j Senior Subordinated Notes 
due 19SS 

Morgan Stanley & Co. and others 
May 7S DORCHESTER GAS 9/5/7S 

CORPORATION 

835.000. 000 

Senior Notes due 1993 
Private Placement 
Warburg Paribas Becker Inc 

9/5/7S 1NST1TUTO PER LO 9 5/78 

SVILUPPu ECONOM1CO 
DELL' ITALIA MERLDIONALE 

885 .000. 000 

8 ;'7, Notes due 19S1 
Dillon. Read Overseas Corp. 
and others 

10/5/7S TEOLLISL'UDEN VO IMA I0/5/7S 

UY-INDUSTR1NS KRAFT AB 
US825.000.000 

$!°fi Guaranteed Bonds 1988 
Abu Dhabi Investment Co. 
and others 

10. 5/78 SPAREBANKENES 10/5/7S 

KREDITTSELSKAP A S 
DM 411.000,000 
fi‘7. Bonds due 1990 
Private Placement 
W cstdcutschc La nd e« ii 3 n k 
Girozentrale and others 


3/5/78 


4/5/78 


5/5.78 


8/5/7S 


9 5/78 


10/5/7S 


Tomhslone Publication 

dale • dale 

May 78 BASF uYERZEE N.V. 10/5/78 

ussan.ouo.ooo 

7 {'7. Notes due 1952 
Deutsche Bank As 
Murgan Stanlcv Inti Ltd. 

11/5/78 DEN NOKSKE 11/5/7? 

INDUSTRIBANK A/S 
T).\l 125.000.000 
O'Vt Bonds due 1990 
W'eotdeulsehe Landesbank 
Girnzenlrale and others 
May 78 CONTINENTAL ILLINOIS 11/5/75 

CORPORATION 
8100.000.000 

Notes due 1985 

Goldman Sachs & Co. and others 
11/5/7S PROVINCE OF QUEBEC 11/5 TS 
DM 150.000.000 
6% Ronds due 1990 
Westdeutsche Landeshank 
Girozentrale and others 
11 5/78 UNITED KINGDOM 11/5/78 

8200.000. 000 7 year Sj% & 

Bonds due 1985 15/5/78 

5150.000. 000 15 year 8i% 

Bonds due 1993 
Morgan Stanley & Co. Inc. 
and others 

25/4/7S RED NACIONAL DE LOS 11 5/78 
FERROCARRILES ESPAN0LE5 
Y16.000jj00.000 

Yen Bonds First Series due 1990 
The Nikko Securities Co. Ltd. 
and others 

11/5/78 CA1SSE NATIONALS DES 11/5/7R 
TELECOM M U NICATIONS 
US875.000.000 
9"f, US8 Bearer Bonds 1993 
Union Bank of Switzerland 
i Securitiesi Ltd. and others 
20/5 TS EUROPEAN COAL AND 12/5/78 

STEEL COMMUNITY CECSC") 

USS 15.000.000 

Notes due l9i>S Private Placement 
Daiwa Europe N.V. and others 
25/4 7S KINGDOM OF SWEDEN 12/5/78 

Jap. Y4 0.000.000.000 
6.3 % Bonds due 1990 
The Nomura Securities Co Ltd 
and others 

16/5/78 5AXKY0 ELECTRIC 18/5/78 

CU. LTD. 

DM 40.000.000 

3;^ Convertible Bond' 197S/S6 
Bayerischc Very iris bank 
and others 

20/4 75 CITY OK COPENHAGEN 17/5/78 

30.000. 000 European Units 
of Account 

7«fc Bonds 197S/93 
K red ic thank S.A. Luxe m hour geoise 
and others 

Mav 7S GESTETNER HOLDING 17 5 78 
B.V. 

£10.000.000 

11% £/ Foreign Currency- 
Bonds I9SS 

X M. Rothschild Jfc Sons Lid. 
and others 

17/5/78 UNION DE BANQUES 1S/5/7S 

ARABES ET FRANCHISES 
— U B.A.F. 

USS25.000.000 

Negotiable Routing rale USS 
Certificates of Deposit 19S1 
Merrill Lynch International 
& Co. and others 

18/5/75 NORDISKA 1S/5/78 

1NVESTERINGSBANKEN 
US82o.000.000 

Bonds due 19SS 
Credit Suisse While Weld Ltd. 
and others 


11 5/78 


11/5/7$ 


12/5/78 


17 5 78 


1S/5/TS 


LOANS 


Tomhslone Pub lira ’ion 

date date 

May 78 A/S FOLLU.M FABR1KKER 2/5/78 
DM 10.0UM.UOU 
5/7, DM loan 1990 
Private Placemen l 
• om mer:* bank AG 
Den Norsk? Creditiiank 
Mar. 78 THE REPUBLIC uF 2/5/7? 

SENEGAL 
US860.UDn.00iJ 
Project financing facility 
OUcuip Jnlcj-naiionj] .md others 
29/3 78 ROMANIAN BANK FOR 5/5.-7S 
FOREIGN TRADE 
US8100.IHKk.0UQ 
5 year Eurocurrency loan 
National West ii inkier Bank Ltd 
and oihurs 

SOU I ETC FINANCIERS 3/5/78 

POUR LES 

T EL ECU M M UNI CAT! OXS ET 
L ELECTRONIQUE S.A. 
USS20.OUO.000 
Medium term lean 
London & Continental Bankers Lid 
Apr 78 FIELDCREST 5 5/7S 

IRELAND LTD. 

US841.0d0.U00 

Term credit and leasing facilities 
Bank of Ireland 

Feb 78 P.S A. PEUGEOT-C1TROEN S/5/7S 
US8200.tlUO.000 

Revolving credit and term loan 
Murgan Guaranty Trust Co. of 
New York and others 

May 78 CAIN A ECONOMICA 9/5/78 

FEDERAL 
DM 100.000.000 
Medium term loan 
Westrteutsche Landesbank 
Girozentrale and others 
PREFEITURA DO 10/5/78 

MUNI Cl PI O DE SAO PAULO 
US$70.000, Q00 Medium term loan 
Eurupean Brazilian Bank Ltd. 
and others 

29/11/77 INSTITUTO DE CREDITO 10/5/78 
OFICIAL 
US$1 00.000.000 
7 year loan 

Algemcne Bank Nederland N.V. 
and others 

May 7S SUOMEN 11/5.78 

FAYKKI- FIN LANDS BANK 
US$100, 0H0.000 
Medium term credit facility 
Scandinavian Bank Lid. and others 
Apr. 7S MOBIL OIL 12/5/78 

INDONESIA INC. 

$300,000,000 

Eurodollar Project Finance 
Morgan Guaranty Trust Co. of 
New York 

Apr. 78 REPUBLIC of INDONESIA 12/5/73 
USS45.40S.000 
Medium term loan 
Manufacturers Hanover Trust Cn. 


Tombstone Publication 

date dale 

4/5/78 TEXAS EASTERN 4 5/78 

CORPORATION 
Shares of Common Stock 
S. G. Warburg & Co. Ltd. 

Cazenove & Co. 

Apr. 7.S METROPOLITAN _ . 4/5/75 

BOROUGH OF ROTHERHAM 
£ 10 . 000.000 
Advance facility 
Morgan Grenfell & Co. Ltd. 

May 7S Domtar Inc. . 5/5/78 

has acquired certain facilities^ 
of Kaiser Cement & Gypsum Corp. 
Transaction intiated by 
Warburg Paribas Becker Inc. 

SOGEX S/5/7S 

INTERNATIONAL LTD. 

Saudi Rivals 376.800.000 
Syndicated Guarantee Facility 
Bank of America Inti. Ltd 
and others 

RACIAL ELECTRONICS 10/5.78 

LTD. 

has acquired 

The Vadic Corporation who 
were advised by Warburg Paribas 
Becker Inc. 


Tombstone Pi 

date 

Mar. 78 THE KINGDOM UF 
DENMARK 
US$500,000,000 
Medium term loan 
Manufacturers Hanover Ltd 
«nd olhers 


Publication 

■lute 

12/5/7S 


Apr 78 PETROLEUS MEXICANuS 16/5-78 
81.000.000.000 
Term credit facility 
BankAmcrica inti. Group and uthers 

Feb 75 BANCO NACluNAL U»J 16 5/7S 
DESENVOLY7MEXTO 
ECONOMICU BRAZIL 
8300.000.000 
Term financial 

BankAmenca International Group 
Libra Bank Ltd. 

ITAIPU B1 NACIONAL 16/5/7S* 

US$23,000,000 

Medium term loan due 19S5 
European Brazilian Bank Lid. 

May 78 THE REPUBLIC OK 16/5/78 

BOTSWANA 
US$45,000,000 

Medium term project financing 
Firsl National Boston Lid 
Apr. 7S CORREIOS E 17/5/78 

TELEGOMUN ICACOES 
DR PORTUGAL iC.T.T.J 
US$50,000,000 
Medium term Euro-loan 
Kredielbank S.A. Luxeinbourgeuise 
and olhers 

Mar. 78 HIS HIGHNESS THE 17/5/78 

RULER OF SHARJAH SHEIKH 
SULTAN BIN MOHA3IED 
AL-QASIMI 
US$200,000,000 
8 vear Floating rate loan 
B.A.l.I. (Middle East) Inc. 

17. 5/78 SS. Brooks Range 1S/5/7S 

SSS.320.000 

Leveraged Lease Financing 
Morgan Stanley & Co. acted as 
Financial Advisers 

17.5/7S S.S. TONSINA 18/5-78 

$70,900,000 

Leveraged Lease Financing 
Murgan Stanley & Co acted as 
Financial Advisors 

Apr. 78 FINSLDER 1S/5/73 

INTERNATIONAL S.A 
USS 18.000.000 
.Medium term loan 
Socictc Europcenne dc Eanque S.A. 
and others 

IBERIA 1S/5/7S 

US$45,000,000 

Medium term loan 

Socictc Centra 1c 

Chase Manhattan Ltd. 

Mar. 7S ALUF1NANCE AND 19/5/78 

TRADE LTD. 

$70.000.00t) 

Medium term revolving credit 
S li. Warburg & Co. Ltd. and olhers 

OTHERS 

Tombstone Publication 

date date 

LOCKHEED 10/5/73 

CORPORATION 
US$1 00.000.000 

Syndicated Guarantee Facility 
Rartquc Ary he et Internationale 
d’Jnveslissemeni and others 

Xacion.il Hotelera S.A. 11/5/78 
has acquired a majority interest 
in M.-cIrid Palace Hotel S.A. 

Financial adviser to Nacional 
Hntelera— Banque Rothchild 
Kaoeb Services. Inc. 16/5/78 

has acquired 
Diamond M Company 
Transaction initialed by 
Warburg Paribas Becker Inc. 

I0/5/7S Thyssen A.G. has acquired 17-5/78 
The Budd Company, who were • 
advised by Smith Barney, Harris 
U pham & Co. 

10/5.78 FIRST PENNSYLVANIA 17/5/78 
CORP. 

-. 200,000 Shares of Common Stqck 
Kidder. Peabody & Co. Inc. 
and others 


17/5/78 


18/5/78 


18/5/7S 


19/5/78 


Tom Mon* Pa-j-iwtiun 

due aalc 

IS 5 *7-; H'.i.I'- 'M '.»F NORWAY 18/5 78 

■ (. s«.J5(i.ll>r 1.000 

7 US? Hearer Note? J 978 .’S3 
D.'iii'cin- Bank AG and others 

11/5 '7$ i.'TEURElCHiSGHE 1S/3/73 

H.NTRULLBANK 
\ KTIENCESELLSCHAFT 
|.:K 75.000.000 

Guaranteed £?arpr X«iss 19S5 
A MRU Bank N.V. and olhers 

6/4/73 i A NAD A 22/5 75 

S2S0.00o.nnn S'f, Bund? 19$3 
'"50.000.1 100 $.207, Bunds I rj ?5 
>250.000.000 Si n n Bond? 1998 
Murgan Stanley & Go. and others 
Mav 7? THE COUNCIL OF' 22/5 78 

EUROPE RESETTLEMENT 
1 LND 

DM 100.000.000 
fi l Vi Bearer Bonds 19S4/58 
Berliner Handels-und 
I- r.inkfurier Bank and other; 

5/5/7$ BANK HAXDLOWY 23 5/75 

W WARSZ.AW1E S.A. 

I. $>30,000,000 

F|u.i(ing rate Notes due I9SS 
B.iuque Nationals de Paris 
and others 

ACA AKTIEBOLAG 24/5/78 

i >$25,000,000 
!»;'7i Bonds 1988 
Hj morns Bank Ltd. 

24/5.7$ R ANK OVERSEAS 24 5/78 

HOLDINGS LTD. 

A i is. *12. 000.000 
li; **11 Guaranteed Note? 1983 
.\ M. Rothschild & Suns Ltd. 
and i a hers 

16/5/7$ EL> ER LA XDSCHE 24/5 7? 

M I DDENST.ANDSBA.VK NV 
lifts 75.OOU.OUO 
u ' G, Bearer Notes due 1983 
Ni-dcrlundschc 
.Middcnstandsbank N"V 
,.n.i uthers 

Mar.TS SmNATRACH 25/5/78 

Kuv.aii Dinars 12 .OOO.bOO 
> Guaranteed Bund* due 1990 
|-i:w;ii! 1ml Investment Cb. S.a.k. 

-nrt uiheis 

Apr 78 BINGO N.ACiU.V.AL DE 25/5/7$ 

"BRAS Y SERYICIOS 
PUBLICMS. S.A 
>.‘7, Notes due 1990 
riuwaii Inti. Investment Co. «ak. 
ji.d others 

26/5 78 1 HE SEIYU STORES. LTD 26/5/78 
DM 100.000.000 

Convertible Bonds due 19S6 
MVsuleursche Landesbank 
Gtru'cniralc and others 
30-3/78 REPUBLIC OF 30/5/78 

VENEZUELA 
V 411.000.000.000 
n47, .rap Yen Bond? due 1990 
Yamaichi Securities Co Ltd. 
and olhers 

Mav 78 THE CONTINENTAL 31/5/78 

..ROUP. INC. 

$75,000,000 

>.$5'7. Sinking fund Deb? due 200S 
G-ilduun. Sachs &. Co. and others 
31/5 78 ONTARIO HYDRO 31/5/78 

US$125,000,000 

8 "T-i USS Bearer Notes 197S 85 
Deutsche Bank AG and others 

31/5/7S THE INDUSTRIAL BANK 3I/5/7S 

UF J A PAN FINANCE 
COMPANY N.V. 

DM 100.000.000 

5*n DM Bonds 1978/84 

l.i rutschc Bank Ag and others 


Tombstone 
■ date 


Publication 

date 

19/5/78 


KOREA SHIPBUILDING 19/5/78 
\ND ENGINEERING 
• ORPORATION 
i SS40.567.450 
Development Finance 
L/oyds Bank IniornuliODs) Ltd 

POLYSAR LIMITED 23 5/78 

USS20.000.000 

10 year term loan 

Wcstdeutsvhe Lande.-'nank 

Girozentrale 

Mav 78 SVEX5KA VARY AB 24/5. 78 

$200,000,000 
7 year loan 

Ur'ion Bank Lid and olhers 

May 78 INDUSTRIAL AND 26/5/75 

MINING DEVELOPMENT 
BANK OF IRAN 
US$150,000,000 
S year Floating rate luan 
Iran Overseas Investment Bank Ltd. 
and others 

Ma% 78 GULF RESOURCES 26/5 7S 

& CHEMICAL CORPORATION 
$30,000,000 
Revolving facility 
Credit Suisse White Weld 
Limited 

CREUSOT-LOIRE 30/5/78 

USS65.000.000 

Medium term loan 

Banque dc PUnion Europeeone 

and olhers 

22/5/73 CORPORACIOX DE 31/5/78 

FORMENTO DE LA 
PRODUCCION 
US390, 000.000 

Medium term credit faciiily 
Chase Manhattan Bank and others 

Mav TS COM PAN HI. A DE 31/5-78 

CELULOSE DA BAHIA 
US$15,000,000 
Medium term luan 
United International Bank Ltd. 
and others 

Ma> TS ELEKTF11CITETSSELSKABET 

ISEFJORDV.tRKET 31 '5/78 

1NTERESSENTSKA B 
US$35,000,000 
Medium term luan 
Privathanken Akticselskab 
and others 

Apr 7$ A/S KONGSBERG 31/5/78 

VAPENFABR1KK 
USSlO.flOO.OOO 
Term loan 

Andrescns Bank Inti. S.A. 
and others 

Mav 78 A/S KONGSBERG 31/5/7S 

V.APENTA BRINK 
10 year fixed r3te 
Euro-currency li.»an equivalent to 

Nkr ioo.oon.ooo 

Berliner Handcls-nnri Frankfurter 
Bank and DG Rank 


Tiimhsione 

date 


Publication 

date 

24/5/78 


TOWN & CITY 
. PRUPERT1ES LTD 
26.297.9S4 7Gi Convertible 
Preference Shares 
Wambros Bank Lid. 
Panroure Gordon & .Co. 


Feb. 7S BANCO NACIONAL 24/5/7$ 

DE OBRAS Y SERYICIOS 
PUBLICUS: S.A. 

Svidi Rials 100.000.000 

5 year Deposit 

B.A.l.I. (Middle East) ln'c. 

Mav 7S ALA H LI BANK OF 25/5/78 

KUWAIT 

Kuwaiti Dinars 7.000.000 

Cerliflcaies of Deposit 1981 
Kuwait International Investment 
Co. s.a.k. 

Mar. 7S YUSUF A. ALGHANIM 25/5/78 
& SONS w.1.1. 

Kuwaiti Dinars 5.500.0O0 
Promissory* Notes 1980 *1981/1982 - 
Kuwait Inti. Investment Co. &.a.k. 
and olhers 


10 dwiterfieM Street, London, W-L* 

. . Tel: 01-193 1239 or 01-491 iS7i . 

• - - Telex *811055, 

JAPANESE DOLLAR QUOTED SECQUBg 
Names ' - ;Owe'il'Q(5^ 

daiwa SEIKO 

HONDA - • • ' . ?*?*:, 

ITO YOKAJOO ' 

jusco • ;.'■■■ **?. 

KOMATSU FORKUTT . * . ®' 7 ^. 

KOXISHIROKU PHOTO . S2.93 

KUBOTA *S5w«K 

SJAKITA 

3TUKATA . U:. V - '*W- 

ntchzi 

NIPPON CHEMICAL CONXffiNSEIt.- ' JJJ*-* 
NIPPON MEAT ' V. .. . , 

Q.F.COHP «3-05;. 

RENOWN , . S2M, 

RHYTHM WATCH . ^-45 

STANLEY ELECTRIC 8^-88 

TA1SHO MARINE ?10| 

TDK ‘ S»A5' 

TOYO SANYO * 1 - 40 


WestLB Euro-Deutschmarkbond Quotations 


6-;-' Quebec Hydro EJ. 72/87 102.00 

6ifa Quebec Hydro El.73/88 102^5 

6 ; ' t Quebec Hydro Ei. 77/87 J 101.75 

6j c i Quebec Hydro EL 77/87 101.15 

8j-a Queensland Afu. 70/85 105.00 

Sj c c RauaruukJei 78/88 TG) : 95.75 

7, c . Reed Paper 73^88 J. 10275 

S.'-o Renfe 76/82 tG) I06.7S 

8^ Renfe 77/84 (G) 106.00 

7i^ SAAB 71/86 106.00 

I0i s i SAFE 74/79P 107.00 

7r c 0 Sandvik 72/87 ....: 104.00 

9s fi Sanvik 75/83 - 1 1 1 .50 

8x ? 0 Sanko Sceamshfp 75/80 102.75 

7 : - Sanko Steamship 77/84 104.00 

9-^ S'A.P.L. 75/8QP (G) 10750 

7% Sears Int i. 68/83 101.75 

Shell Inti. 72/87 104.00 

6‘S Shell Inti. 77/89 106.4Q 

8^f; Ship Co. N. Zealand 75/80P (G) 105.50 

8 *1 Ship. Co.N. Zealand 75/82 IP (G ) 105.00 

fi;«s Ship. Co. N.Zealand 75/82 IIP (G) 105.00 

7*a Siemens Europe-66/81 10550 

7 : A Singapore 72/82 102.25 

6i c i Singapore 77/83 102-00 

8* c 0 Singapore Aid. 76/83 (G) 104.65 

Sura Kvina 105.75 


Middle Current 
Pnce Yield. 

Lift* E 

102.00 

6.37 

4.64 

10225 

6.36 

S.01 

10 175 

6.39 

921 

101.15 

6.18 

950 

105.00 

8.10 

374 

95.73 

6.0) 

9.82 

10275 

7.06 

452 

106.7S 

7.96 

4.08 

106.00 

7.55 

S53 

106.00 

7.3) 

453. 

107.00 

9.58 

.1.42 

104.00 

721 

4.46- 

111.50 

8.30 

4.67 

102.75 

8.27 

250 

104.00 

- 6.73 

5:67 

10750 

8J7 

1.75 

101.75 

6.88 

0J3B 


6J e ; S.N.F.C. 68/83 1G) 

7i c ; Soc. Dev. Reg. 76/86 (G) 


7 i% South-Africa 71/86 100.00 

7'r South -Africa 72/87 9675 

8° 3 South-Afr. Broadc. 78/8 IP iG) ... 100^0 

7‘ s 5 Souch-Africa Railway 73/88 fG) 96.25 
9; 0 o Souch-Africa Railway 75-8CP (G) 102:50 

9 j '' s Sourh-Africa Railway 75 ’80 (G)'. 10300 
8 j 3 j Sourh-Africa Railway 77/BOP tG) 101 00 
8 3 i Sourh-ArY. Railway 78/81 P fG) ... . : 100.50 
7J* C Souch-Afr. Railway 78/B2P tG) ... 100.00 

7\ South Sect. El. 73/88 (G) 103.75 

6j% Spam 77/84 101.35 

6% Spain 78/88 95.87 

6 7 0 Sparbank Oslo 78/90 

b: : z Stand. Chart. Bank 73/88 102.00 

7% Stacsfoe rerag 77/85 ,03 ?5 

13 : , Steirmark 74/80P ; . '0875 

8;% Stockholm Cicy 75/83 155*25 

8i^ 0 Scockholm Counry 75/87 108.00 

7-:?i Scudeb Worth 69/79 101.50 

8/°'- Sumitomo Metal 75/82 105J5 

7j c q Sun Oil Int. Fin. 73/88 107.00 

7\% Svenska Cell 73/88 102.70 

9% Svenska Taednst. 75'85 10825 

6c% Sveriges Inv. Bk 72/87 102.50 

7?: Sveriges Inv. Bk 73/88 10275 

8i° 0 Sveriges Inv. Bk. 75/83 106.00 

6‘% Sweden 77/84 , 104.00 

ff’i Sweden 77/89 100.50 

9}% Taisei Corp. 75/80P 105.00 

ID ? o Tauernaucobahn 74/79P (G) 106.00 


Tauema urobilin 75/82P (G) 

Tauernautobann 75/83P (G) 


Tauernkraftwerke 68/83 (G) 


V Tenp/inco 75/82P 
s j Thailand 78/83P 


6 1 “n Thyssen Car. Fin. 75/82P , 

6l°- Thyssen Inv. 66/81 

7I°rt Tokyo El. Power 69/84 

9 Toray |nd.75/80P 

S' 0 ', T nf. Home Fin. 72/87 

6°^ Trinidad &. Tobago 78/83P 

61% Trondheim 68/83 

51 °o Trondheim 78/88 


7-% TRW Inc. Fin. 69/84 
6% TVO Power 78/88 (G) 


7% Venezuela 68/83 
6°o Venezuela 78/88 

7% Viemra 68/83 

B‘.°; Vienna 75/84 


8‘. % Voesr-Alpine 73/88 

8i?o Voest-Alpine 75/85 

6;% Voest-Alpine 77/89 

Wells- Fargo ex. w. 73/88 

5I C « Woridbank 65/85 

6( c o Worldbank 68/80 

Worldbank 69/84 : 


6°i V/orldbank 69/84P 

ari Worldbank 70/80 

8% Worldbank 70/86 

7:**, Worldbank 71/86 I 

71% Woridbank 71/86 II 

6^°; Worldbank 72/82 '. 

6’°; Worldbank 72/87 

6 i% Worldbank 73/83 


B\% Woridbank 75/82P 
8°; Worldbank 75/82 .. 
S ,n : Woridbank 75/83 .. 
8 n ; Worldbank 76/82P 


71% Worldbank 76/83 

71% Woridbank 76/83 

6:°Z Woridbank 76/83P 

8°; Worldbank 76/84 

5i°- Worldbank 77/82P 


6i% Worldbank 77/8SP .' 

6°- Worldbank 77 /85 

7°-, Worldbank 77/87 

6\% Woridbank 77/87 

5i% Worldbank 78/90 

62% Yokohama 68/83 (G) 


81% Yosida Kogyo 75/80P 

8% YugosL Inv. Bank 77/8SP 


104.65 

.876 

2.60 

105.75 

8.04 

3.87 

103.00 

6JI 

2.76 

105.00 

7.14 

5.07 

9925 

620 

14.54 

107.00 

8.41 

3.11 

9825 

6.87 

5.83 

10425 

8.15 

3.73 

100.00 

7.75 

. 8.42 

96.75 

.724 

9.42 

100 JO 

7.96 

2JS 

96.25 

779 

1000 

102:50 

9.02 

0.98 

103 00 

8 98 

2 08 

101 00 

8.17 

2.17 

; 100 50 

7.96 

X59 

100.00 

7.75 

3.92 

103.75 

6.75 

4.92 

101.35 

6.66 

6.17 

9587 

’ 626 

992 

9825: 

6 11 

721 

102.00 

6.37 

9.58 

103.25 

6.78 

5.17 

108.75 

920 

2.33 

10525 

8.31 

3.69 

108.00 

8.10 

4.62 

101.50 

7.14 

1.17 

10S75 

8.04 

4.08 

107.00 

7.0! 

10.17 

102.70 

7.06 

4.90 

10825 

8.31 

4.16 

102.50 

6.59 

4.55 

10275 

6.81 

5.00 

106.00 

8 02 

346 

104.00 

625 

5.92 

100.50 

5.97 

11 JO 

105.00 

9.05 

1.79 

106.00 

9.43 

1.33 

112.50 

8.44 

3.08 

110.25 

8.16 

3.75 

11025 

8.16 

4.75 

98.30 

5.60 

14.83 

104.25 

6.71 

2.62 

103.75 

6.27 

2.68 

105.75 

7.57 

9.51 

108.50 

8.76 

375 

97.50 

6.41 

4.83 

109.50 

7.76 

3.83 

107 50 

7.67 

4.08 

102.80 

6.32 

J 73 

104 DO 

6.97 

3.38 

106.50 

892 

1.69 

99 50 

6.53 

9.33 

96.00 

6.25 

4.83 

102 00 

6.62 

2.91 

97.62 

5.89 

8.81 

10225 

7.33 

3 20 

97.75 

6.14 

7.60 

111.00 

8.78 

3.50 

111.00 

7.66 

628 

10025 

6.73 

3.91 

102.50 

6 83 

2.75 

97.87 

6.13 

975 

104.00 

673 

2.95 

106 50 

7.75 

3 58 

102.25 

5.62 

6.54 

106.50 

7.98 

6.01 

108.00 

7.87 

4.94 

103.25 

6.54 

* 8.41 

104.25 

624 

5.69 

101.80 

5.40 

3.61 

104.00 

6.25 

2.17 

102.25 

6 36. 

3.0! 

104.25 

6.24 

3.43 

102.25 

6.36 

301 

100.50 

557 

325 

108.00 

7.87 

2.17 

106.75 

7.49 

393 

10525 

7 1*3 

3.81 

105.00 

7.14 

4.30 

106.50 

6.10 

4.08 

103.00 

655 

4 36 

105.80 

6 38 

4.67 

101.50 

6.28 

5.18 

108 25 

7 62 

4.00 

108.75 

7 36 

4 50 

109.75 

7 SI 

5 08 

107.25 

7 46 

4.17 

106.00 

7 31 

4.33 

108.25 

693 

4.92 

I087S 

7.13 

5.33 

103.50 

6.52 

S 50 

100 25 

7.26 

5.67 

101.75 

5.41 

429 

106.00 

6.60 

6.75 

10325 

6.30 

6.92 

101.60 

5.91 

7.29 

104 90 

6 67 

8 58 

10X25 

6.36 

8 92 

98.50 

584 

10.13 

10275 

657 

237 

10300 

6 80 

3.21 

105.50 

758 

«.69 

106.00 

8.25 

2.08 

101.62 

7.87 

. 3 .93 


Repaymefl* •' 

slrito D-mamteWiycfcfBMtjB <- 

aiui^-* bvlotttpar --'.*■> 
aiumy g_ Bintangfunl , .. . - - ; 

5.99 f. 4.7ff-4>D 

5 96 t- 3.79— SBEt * *.‘ 

624 16. 8.87 • V 

6D8 ' 1.1X87 

7JD8' ■ IJJ.76-^«5S. 

6.34 1.4.84-^880 

• 6.55 • 1. 129— 88&i-._. 

6.56 1-7.82 

622 1 4£4 ’ *.„ 

6 31 . ). 627 — 865 . 

-497* 1.1129 / 1' 

643 *- 2JB-87D; 

6JI • I- 2.82 

72T 1.12J0 

Vi.13 I.1M 

-4.43 1-180 

3 ss dld.p. . . - 

30. 628CKli:5>: •, 

5.50 .* L4J8-87S ', . 

5.78 1 - 2.85— 89D \ ‘ 

5^29 3. 6^0.. 

701 22.5.82 

7.02 27. 5^2 

191 LMTtk-frTS . .. 

6 12 1.728-825' 

6.0! 1- S.83 

6J2 1. X79 — 83D J;, 

6 90 L 676— 85D 

S29 1.10.72— 83S 

6J| 1. 4JO-S6D 1 ' 

6 33 16.1X83— 92D 

6 44 1. 579-83D /: 

7 25 1. 47*-*4$ . 

7J1 1.11 26— 85S 

7.90 1.1127— 86S 

748 I.H7M7S - 1 ' 

777 1.3.31- vU,:- 

8 06 1. 679— 88S / : 

6 52 1. 6.78— 80D ’ l ' ! 

7 62 1.780 

7.71 I. 8.79 — 8QD -'r - 

775 i. ini 

7 74 1.5.82- 

6 08 I. 2.79— 88S .* 

6.47 1.8 84 - J * 

658 1.5.88 

6.31 ... 16..‘5;8I— 90D /* 

621 : V: f.88 

624 I. 3.82— 8SD 

5.85- 1 .K).8Q 

7 07 15. 4.76— 83D * r 

6.67 I. 479-^87D^ -• 

5.98 1.879 . 

6.83 1. 7J2 

6 53 1. 879— 8BS 

6.58 1. X79— 885 - 

6.65 1. 3.80— 85S 

6 10 .1. 3.78— 87S ' 

6.33 l.-3:79— 88S U 

6.51 . !. 6 JO — 835 

5 68 I. 5.84 

5.93 1.1X83—895 ' . 

643 16. 3 JO 

5.18 1.10.79 

502 1.7.81 

5.86 I. 3.82 ■*. ' - 

6-42 l. 3.83 •/ . . 

5.67 J. 4.84—935 

5 30 1. 274— 83D . . 

5.04 . 1 . 9.74— 83S 

7.14 1.1 1.82 — 935 * .’ 

6.84 I. 3.82 * : 

6.87 1.4.82 - . . . 

5.66 1. 4.82 

6n 1.7.82 

4.76 1. 3.72— jrD 

6.02 1.1X75— B4D'-- 

5.35 W. X80 ** 

6-57 1.10.78^-875 r-.- 

7 00 I. 4.83 

6 08 1.1X72— 83S 

6.10 1. 4.86— 88D - 

6.81 1:10.75 — S4S . 

6.38 1. X84— 885 ' 

6.14 1.12.81 

6.32 l; 5.81— 875-’ 

6 67 30. 4.82 

6-08 1.1074— 83S 

6.29 1.3.84—885 ' 

5.59 1. 6,74— 83S ’ 

6.16 1. 879— 84D 

5 33 15.12.84 

7 12 1.10.79— 84D r 

6 55 |. 6.81 — 84Q 

6 24 ?. 6.84— 89D ’ 

5.60 1.11.79— 88S ' 

5 01 l. 4 71— 85D 

4.51 J. 8.80 • 

5 64 1. 6.75— 84D . 

520 2. 177— 84D 

5.64 2. I 77 — 84D 

5 82 1. 477—840* - 

4.63 |. 8.80 

6 00 I. ).77— 86D - 

5 92 |. 6.77— 86D 

* 1 12.77—860 

1 782 

5 97 I. 3.78—870 

5.30 1. 2.83 

6 03 1. S. 79— MD 

|88 j. 6 .82 . 

S73 1.12.82 

5 97 1. 7.83 . ; 

597 1.8.82 

6 12 1.10.82 

J? 1-5.83 

579 - 1.10.83 

5 97 1.12.83 

581 l. 2.04 

5.03 15. 9.82 

5 89 1. 3.85 

5 91 1. 5.85 

5.72 15. 9.85 

624 1. I JB7 .. 

6 16 1. 5.87. ' 

5 95 1 . 2.87— 90D 

570 1. 9.72— 83S 

6.05 30.973^-845*' 

6-59 1. 8.77— 86S 

5-61 1. 7 AD 

7.49 15.12.81 — 35D 


ia.-J!T * r ",a y^ '* •!>'*' in ° 1 — m «hb 

— to final maturity in case of a lump-sum repayment 

—to final maturity in case of a sinking Fund issue, whenever the quoted pribe is below i00 
—to average life in case of a sinkingfund issue, whenever the quoted price is above J00 
—to average life in case the bond issue provides for mandatory drawhoj by | ot mt wr orrty 
—to average life in case Che bond issue provides for mandatory drawing by tec ac par only 
P Private Placement U he smallest denom.nation may be larger eban the usual DM 1000 
ot public issue) 1 < 

G Government Guaranty .* “- 






I 


2 istj 

I ’ItoesrMoHday June 12 1978 

Sj^tMAY 1Q78 




tatioivs 




«-7&-37d 

: 

12.87 

■} ' 75-855 
— 8 8D 
i — SB3 

- 7.32 

i *34 

5 6 7 7 -8« 

! ’* 79 

1 i 75 — sro 
• 2 62 
: U6C 
l in 

• ISO 

-••C " 
t.7s" 1315, 
' * 7S-— S7[ 

: 2.SS-B5D 

3 =s: 

:2 5?: 

!7 5 62 
' •' "-SIS 
' "3— ilj 
'■ S.C4 

1 : 7 -sjo 

' 6 7 t— «D 

: ,; ’H" 

• i 5* — EtD 
? 2Si-5:o 

• 5 7 9—323 
' * 7 1 — e«: 

• : • >-i3i 

• ' TT^Sir 

. ■= — i?i 

1 } j 

t 5:S 

• 3-e-s:: 

! ?SS 

s 

2 • 

: 5=: 

' 2 ■’*-5:1 
; si* 
i s 33 
ib S3'-*c: 
; ’. 9E 
1 7 — 3:2 
3 33 

‘5 s:S 

; • 7 ; — i"2 
: 2-9 

• 'S3 

: 5 " = — Sif 
. 2 75— Si: 

: ■ 52s — 5i3 
; 79— Ti 
: si- 

• -f'-cli 

• ? 

• 2 S 3—:^ 

" S3 
■ ' 


i J J — ^ . -' 
- - . s:; 


' *1% ADELA 77/82P 

i V 7% ADELA 77/82P • V 

6% aeg 66/ai . — 

- 6 S% Airport Paris 69/34A V'gV '”"““ 

9^ AKZO 75/52P ._T.. 

7i% AKZO 76/83P 

*% AKZO. 78/8-fP' ; 

81% AiusyisM Int'l. 75/83 

61% AMEX Inti. 77/B4P . . 

io% AiPiEi.- 74/tt (g ) 

7 1% ARBED ‘Finance 76/83P ... 

&i% ARBED Finance 77/87- 

Sf% Arditf-$um»dal 75/8IP ^ 

6J.% Ardal-Suhndal 77/89P 

7% Argentine' 67/79 : " 

7% -Argentine 68/78 : 

‘ Ar & enrine 69/79 

71% Argentine 77/84 •*" 

61% Argentine 78/85 ■ 

J.% ***** Dev. Bit. 6w&rZ“Z:::‘‘ 

--iSS: Astan Dev. Bank 75/80P 

:r 'Bank 76/82 

; 7 l{§ ^ n Dev - Y6/83P. ............ 

• 7% Asian Dev. Bk. 77/85 

t % Asian Dev. Bk. 78/88 

% ASKO 75/80P 

%- Aumir 73/88 (G )".... *** 

. 9% Aumar 76/04 l G) „„ 

73% Auinar 77/84 (G) -..'-‘.l..'. 

S % Australia 67/82 

% -Australia 68/83 

-61%' Australia 69/84 

■71% Australia 69/84 _—■■■■ ---•• 

Australia 72/87 

10%. Australia 74/80 

9%.;ABStraTia 75/82 \""'J 

.81% Australia 75/82 IP . "" 

81% Australia 75/82 IIP 

71%; Australia 76/83 

51% Au^fralfa 77/82P 

51% Australia 77/89 . . 

- 63% Aust.- lnd. Dev. Corp. 72/87 
8% Austr, Ship. Com. 76/83P (G) !“ 

7% Austria 68/82 ' 

61% Rep.^of Austria 69/83 

91% R6p;: of Austria 75/79P 

3\%~ Rep.-oF Austria 74/80P 

• of Austria 74/81 p 

: 91% RKi^of . Austria 75/80P. 

81%TG» ; ;of Austria 75/81 P 

. 8}% R-ep. ; pf Austria 75/82P 

9% Rep. gi Austria 75/83 

Jftfc pf Austria 75/83P 

f Ufp.’ of Austria 75/87 

of Austria 76/86 

61%-iRep; of Austria 77/85 

7% Rep. jbf Austria 77/87P 

.. 63% Rep- pf Austria 77/87P 

. : 6S; Rep. .-Austria 77/87P 

.7%. Autopistas Cataiun 78/8SP 

7t%::Autppktas 69/84 (G) 

8% Aucopistas 7i/86 (G) 

61% ABtopistas 72/87. (G> : 

' 8% Banco N. Obras 7j/86 (G) 

9 St -Banco 'N. Obras 76/81 IG) 

7%-Bancci.RObras 77/84 (G) 

71% 'Bant^u e' Exc. Algerie 77/83 

. 71% r Bangue -Nat. Algerie 78/83 

6%'BASf:^5/80 

BfiC Finance 76/83? 

.8%'; Baecham Fin. 76/83 

’ 10% Bergen 74/79. 

83% Sergftfv 75/85 

7\% B-ergen 77/89. 

.. 81% BFC£ 7S/83 

. 8i%"BFCE 76/84 (G) 

-7% B£C£' 77/87 (G) I 

53% BjFCE 78/88 (G | 

8i% BNDE 77/87 

63% BNfiE 78/86 

. 9% ■Bo.rreiaard 75/81 P ...... 

6|% Borcegaard 77/84P 

.8i% Bra scon Inti. 73/88 

<4% Brazil. 77/87 : 

B3% Brazil 76/86 

74% Brazil ,77/84 

-'.-•63% .--Br>i0.L-^8/85 

6i% Brenner, 6B/83 (G) 

v >51%; Bridsfc -Petrp|,' ; 65/80 
-5j% ^fUxeDes-La'mbert 77/B4P 
8i% Bu^^'on jo/ffi 7.^;;;.:...... . 

44% Canada 78/83'. r.. ->. . 

- 6% Carisbergrfuborg - 77/87P 

81% CC.CE. 75/85 fG) 

81% c-C:q£;76/B6.(G.) - 

7% c.c;c. E, 77/89 (G> 

.51% CECA 64/79 

51% C/E C A . 65/83 : ... T. 

71% C E CA 71/86 .A.. 

61%'CE.C A' 72/87 

. ■ 7% C£.CA,72/M 

61% -GB.C-A; 73/88 

7J%- C £ CA. 73/88 - ' 

10% C £ CA -74/79 I P.. .v 

10% CEC-A 74/79 IIP 

10% CtC A- 74/81 P V- 

91% CECA; 74/81 

8% C € C A : 75/80P - 

8i% CECA 75/82P 

. 8.% CECA 75/82 . 

CECA 75/&S - . 

8% cI'C:A .76/81P 

7J% t2E r C.A- 76/83 

74% CECA 76/86 : 

51% CEPA 78/90 

- 6{% CERGA 73/81P : 

.2% CE5P 77J87 (G) 

.6’% Charx'u;. Cons.. 68/83 

.r^^airyfl^r; 69/84 


MMdle Current 
Pwb. VjeW 

Life" 

— — 

n| 

jib'd T5 D - mandatory during 

Mol jtilv* by lor a! wr 



- - ■ nlirj.j tu:rd 


H UP O 

i - - * :r *«^^*^****^**^^^^ 

WestLB Euro-Deutschmarkbond Quotations and Yields 



Advertisement 


7%; j .Cbry«er 69/84 - 

62%'_CLBA-G£iGr esc. w.. 75/85P 
6j%. ; CtiT Autoroutes t9/84 (G) 

nlAr ^rab 1.* ^C/Ol //T\ 


- i«icvwui vmj u < » — 

fil^iC^sTefecdm: 70/85 IG) ... 
81%^.- telecom 75/82 (GV ... 
91% :CJ4: Telecom 75/S3P (G) ... 


U5A0 

10250 

> 02.00 

10450 

101:50 

107.00 
103JW 
I01J0 

108.25 

102.50 
>0750 
1M.00 . 

101.50 
10450 
102Z5 
10050 
104J0 

103.00 

102.00 

9850 

' 102:50 
10550 
10650 
105.00- 
1CM15 

97.12 
106 J25 
10250 

10670 

104.12 

104.00 
10550 
>0350 
104.50- 
10450 
11125 
11350 
10850 
10850 
10925 

101.75 
' 101.65 

103.80 
10650 
10450 
10325 

10675 

108.00 
108.00 
>05.00 

105.25 

104.25 

109.00 
10425 

107.00 

109.00 

106.00 

104.50 

104.25 
100.00 
100.00 
102.40 

103.75 
10050 

102.80 
10725 
100.62 
101.00 
9950 

10350 

10350 

10775 

107.00 
11025 
10575 

108.00 

108.50 
103.37 

- 98.62 

105.00 

97.00 
106.00 
mjxi 

10550 
101 >15 ‘ 
10625 

104.00 
10005 

102.75 

102.00 

.10075_; 

105.25 
98.37- 

10150 
. 108.00 
: 10850 
10375 
10X75 . 
101.75-;. 
105.50' 

: 10175. 
10255 
10240 
12X00 
. >06.00 
106.00 
10650 
11350 
106.00 
108,00 
- 110.00 • 
106.00 
>0625 
10875 

108.75 
9550 
10150 
101.00 
10150 
10X00 
106.00, 
10350 
10925. 
10225 

.10X50 • 
■10450 
106.00 

106.25 - 


4.5#.. 

s.m 

5.9X; 
657 
3.ir ■ 
■ 1.49. 
6.54V 
,374 » 
.M.97-- 


5.91 r 9.50 
7.87: ; 4.77 


5.13 

5.78 
6.49 
6.84 • 
6.32 
271 
4.81;-- 
6;00 ' - 
6 .07 ■ 
6.28., 
5.93 ■ 
3.47 ' 
457 

4.90 
754 . 
5.39 : 

5 35 . 
6-04 .. 

5.44 • 
651 
5.97.'-; 

5.79 ' 
6.02.. 
5.78. 

5.90 ’ 

6.80 

6 07 - ' 

6.45 .. 

5 72 
526\. 
6.53 
5.67 . 

5.5 lM 

7 20.'. 
6 . 86 ' 
7.60 - 


1. 4.B3 
16. 6.82 
I. 8.82 
1. 2.72— 8ID 
I. 375— 84D 
1 . 2.82 
>. 6.83 

I 4.84 
I. 8.81 — 83D 
I. 4.84 
1.1X77— 81D 

1.11.83 

i.. 6.83— 875 
I. 7.81 

1 . 7.82— 89D 
1.1X70— 79S 

1.10.71— 785 

1.12.72— 79S 

1. 10.84 ‘ 

1 3.85 

1. 975— 84S 
16.11.80 
I. 3.82 
1.4.03 
1. 4.85 . 

I. 5 88 
1. 4.80 
1. 2.79— 8BD 

15. 8.77— 84S 
I. 7.84 
1.JJ.73— 82S 
1. 874— 83S 
1. 2.75— 84S 
1.1175— 84S 
1. 2.78— 87S 
1.10.80 

I. 452 
1. 2.82 
I. 5.82 
1. 3.83 
1 .10.82 
1.11.85— 89S 
1 II 7&— 87D 
1. R83 
1. 473—825 
l. 475— 83S 
I. 779 
1. 11.80 
1 1281 
I. 2.80 
1 6.81 
l. 479— 82D 
1 2.63 
1. 479— 03D 

1. 578— 87S 

2. S .83—865 
1. 453— B5S 
I. 1 .83—87D 
I. 2.83— 87D 
1. 9.84— 87D 

16. 1.85 

1 773 — 84S 

1.10.77— 86D 

1.10.78— 87D 
1.H.77— 86S 
I. 9.81 
1.10.84 

15.10.81— 83D 
I. 3.83 

1.1071— 80D 
1.IJ.S3 

1.11.83 
1.1279 

1. 5.81 — 85D 

I. 2.81— 89D 

J. 7.8 J— 835 
1. 7.82—845 

1. 2.83— B7S * 

15. IJ6 — 885 
I. 4.83(82-87) 
1. 3.86 

1. 5.81 ' 

1.10.84 

I 1079 — 885 
1.1076 — 87S 
1.10.82(80-86) 
1. 5.84 
I. 2.85 

I. 8:74 — 83S 
r. J 671^«D 

-.1571X84 : ’. 

r.1176 — 85D 
, 20Me3 
I'dXBS — 87D 

J. -4.81— 8SD 
,1/7.83-^60 
•). 4.81— 89D 
. 1. 6.68— 79D 

! 1.47 1— 83D 
1/ 5.77— 86 D 
1. 778-87D 
72 179 — 88 D 
1. 4.79— 88 D 
. 1.11.79— 83D 
I. 879 
' 1. 979 
1. 9.81 
1.12.81 
1.12.80 
1-.3E2 
15.12J2 
1. 4.78-850 
15.12.81 
' .1:10.83 

- 1.10.82— 86D 
1.4.85— 90D 
1. 4.81 

- 1.11.83(82-87) 
-1.10.72— 83S 

■ 1. 7.75— 84S 

. io.ra.8s 

. I* 375— 84D 

16. 1.82 

1. 2.75— 84D 
.1.11.74— 83D 
. 1.1076— 85S 
. 1. 3.82 
■16. 2.83 


WesjtlB Euro-Deutschmarkbond Yield Index 


-M^^ ;1^78:V6.19gfe: ■ 

• 9%ji>4.',Xerecom 7S/83P IG ) - 

7i%- : 'C3v.Telecom 7678 J. .(G). 

7\ % Cdnutlco; Tim. 

9i%'.Ccwrlalcb 75/82P -r 

- 7%-iG&ro.'-ted, a&cr. .'77/82P 
8%- Com; Fdd. EieW. 77/B4 - 

?i% .Corn; **!? 

6i%“C6dtVF^ 

.4 j%.Cqmf:F’. p«ucscHe^P- 78/83P. . 

6^% Com 

84% Cohsorzjcr;70/9vl/lG> 

3%:.CtotSlsWalO'W® 5 -v-". -j 

'.5i%jeo^h^T6W ; .'“ 

6i%Cbpenfiitg«n'.69/ 84 — 

7i%iCopehhagen --7-1/86'*.- 

.4% Goiurotof Europe 73/8 1 p 
7% Cooncfl of Eurape72/8S - - 
9i%’ Ccm risitof Fwope"S/S2f ....... 

8l% Councfr of Europe 76/« 

7i% OottDcjlof -Europe 7S/J3 fr.- 

7% .CflVrf8lwElffOpe7ft/M 

<a% Cdurrrif;of turope 77/R7 v ”■ 

£ % Cosirwl of Ebrope. 78/88 . 

6 %■ Coiw«uld5/ntX W8t..r:.;...-- i .‘. 

7 % :Courtablrfs itnl.-Tj/BSP 

‘ 6 % Credit • 
9% 

8i%' CVRD' 76/86 

8% DaimftrSeqs; 70/85-; — -. 

6%;Dahish^p'orfWgP-..4>>----- 
: 5J% • 


7%;t)e&«aiJ 67/84 ..;^.— --'r— v’ 
Bl%.D«nmirk 70/85 

73% DernuirV 

6J% Denmark 72/87 - 

‘ 91% Denmark 74/89 .-:-•••• 

8i% Denmark 76/82 -^.-:- r •• • • ^ -v 
B% Oerirharic 76/82 . 

.63% .Dtdftwrk 77/g 
7i% J>domiric .77/87 -*‘; 

Si% .Denmark 78/84 *” 

' 6%;Dfcumsrk 


... 105.75' 

106.65 

.... .104.80 
‘ 106.00 
... . 100.12 
10450- 
..; 1 00-35 

— ' 96.75 
-98.12 
. ; . - .106X5 
y 703.40 . 
..V ’ W5.50: 
104^0. 

"iouo- 

;~1 0325- : 
... joito ' 
... ' 104.00 • 
— 1 106.00 • 
... "10570 , 
- .101.50; 1 

102.90 . 

..•v , 108:00'. 
::V ; io7^yr 
10675 

iZrLl 06^0/, 

100.75: 

ii.-'-' '.99.60 ' , 
1 01, 30; : - 
; 4 10175 : 
...;\ ,99.75 ' . 

' 10675 

: 7 997S. 
MXOiJ ' j 
... .102:00 1 
.„ 108.00: 
‘"100.00 
.., 103.00 

’ 106.00 

^ 10375. 

... ’-101.50 . 

10.50. ' 
.... moa 
" 108.00 
10430 • 

,T.- 10600 
.100:00 
s 99 95- 
1 0X50 
''9915 
.Vi:- 10X23. .. 


(April 28, 197?^ 6.16^) 


7.49;; 16. 2.83 

5.65 , 16. 4.83 

6.82 ; l ; J. 677— B6S 
7.46 642 

6.95. ^^Vf. 9.82 
7.05E±.s:L 6.84 . 

7.16 ;■ . I.1T.82 — 8SD 
7.22 -' .1. 4.84— 88D 
4.81-;. -T„ >;5B3 

6.85 5.80-8 55 

5 S2-..;V;. J. : 7.B4 - r 

7.19 1.77— 91D 

7 -0 5 - V 1276— 855 

. 5JBS vi5.l2.70-84D 
i91..-^rr 372-835 
5.69--V ..1. 673—845- 
6.78 <- -l. 4.77 — 86S 

7.4*4. CO-SO-HSD 
637 '- V 1.1X8 1—86S 

5.92 " l K"5.81 

6.34 c.* >• 7.79— 88D 
6.93.-;*M/2.82 
5.S3’ ^-i: 2.79 — 83D . 
S66;.‘ : I.’S.SO— 83D 
5.69 . r.1233 
6.1'r ■:??{'; l'.n:83— 87D 

6.17 f6; 5.B4 — 88D 
6.21":’ , 1'.; 7,80—875 

6.93 '. : r. Z79—880 

0.83—875 

6.^;.-:;= ( : ,i;>;8K'82-B4) 

6.39.^-l.l2.82(83 ; 86) 

6.43- - ' lil 76~85D 
575 : - M1.78— 32D 
5.81v .1. 679— 83D 
53 Bv..v 1.H78 

5.92 ': .1:12.78 
665:’.- 1.11.82— 80D 
660 1072— 80D 

6.14 i;' 8.7S— 84S 

3.44- ^ ' *.'c)1.p. 

• ■■ ■X: 9.78(103) 

-6.82;. l.M;77— 86S 

6 36 . [.[278—875 

7.02; i; 180— 89S . 


, -7.51 . '4.20 
6.65 4.75 


J- XF2 
.'1.982 -' 

W. 5.83 
16.'5.87 • 

.1. 2.84 . 

1 . 2 .B 8 

-"- '1.6 8D— B9D • 
^ : 1. 3 83— WD 


8i% Dunlop Fin. 70/85 


7!% EEC 76/83 

7 tie Elect. Council 69/84 (G) 

7j% Elect. Council 69/84P |G) 

7,;& Elect. Council 71/86 (G) 

6y% Elect, de Franc? 70/85 (G) 

7% Electrabas 77/87 (G) 

6i% Elecrrobas 78/86 (G) 

5i% Elf Aquitaine 78/S8 ...: 

5j?i Elf Norge 77/80P 

6% ENEL 65/80 (G) 

8«% En&o-Gutzeic 70/35 

6i% Ericsson 72/87 

8J% ESAB 76/81 P 

6!% E5COM 65/80 (Gl ...'. 

6)% ESCOM 68/83 (G) ..'. 

8:% ESCOM 70/85 (G) 

8% ESCOM 71/86 (G) 

6i% ESCOM 72/87 (G) 

7% ESCOM '73/88 (G) 

9i% ESCOM 75/80 (G) 

8% ESCOM 78/81 IP lG> 

8% ESCOM 78/81 IIP 1C) 

8S% ESCOM 78/81 P IG) 

7*% ESTEL 73/B8 

ESTEL 75/85 '. 

S^% ESTEL 76/83P 

6'.% ESTEL 77/84 P 

6{% ESTEL 77/84P 

6^% Euratom 77/87 

5^% Eurofima 64/79 

6% Eurofima 65/80 

6'.% Eurofima 67/83 

7:% Eurofima 71/86 

61% Eurofima 72/87 

6»% Eurofima 73/88 

8% Eurofima 73/89 

10% Eurofima 74/79P 

9% Eurofima 75 '85 

8% Eurofima 76/83 

6(\ > Eurofima 77/87 P 

S^b Eurofima 78/88 

6% Europ. Inv. Bank 69/84 

7% Europ. Inv. Bank 69/84 

8% Europ. Inv. Bank 70/80 

7J v e Europ. Inv. Bank 71/86 

7i% Europ. Inv. Bank 71(66 

6j% Europ. Inv. Bank 72/87 

6% Europ- Inv. Bank 72/87 

64% Europ. Inv. Bank 73/88 

7% Europ. Inv. Bank 73/83 

10% Europ. Inv. Bank 74/81 P 

8% Europ. Inv. Bank 75/80 

9 ' % Europ. Inv. Bank 75/83 

8‘o Europ. Inv. Bank. 76/83 

71% Euro p. Inv. Bank 76/83P 

6i% Europ. Inv. Bank 76/84 

6% Europ. Inv. Bank 77/69 

S'% Europ. Inv. Bank 78/90 

8!% Europisras 71/86 (G) 

8% Europistas 72/87 (G) 

10}% Fin. Inst. f. Dan. ’lnd 74/78P ... 

7i% Fin. Inst. f. Dan. lnd. 76/81P 

6!% Finland 64/79 

6% Finland 64/80 

7% Finland 66/83 

62 % Finland 68/83 

7?o Finland 69/84 


Middle Cm'enl Yut>i D-r-jr :>:■ w-- »-in 3 

Price V>eld rrr 


Cll.p. 

1. 8 70(102) 
1. 4 83 
dld.p. 

1. 9.78i 103) 
I. 975— 84D 
l. 3.77— B6S 

1.11.76— 855 
1. 9.83(83-87) 
1. 4.86 

15. 5.B6-88D 

16. 4.80 

I. 7.69 — 80D 
I.10J6 — 85D 
I. 378 — 875 
I. X81 

1.1071— SOD 
M074— 83D 
I. 4.76— 85D 
1. 377 86D 
1. 9.78 — 87D 
1. 5.79— 88D 
1. 8.80 

IS. 1.80-81D 
1. 2.80— 81D 
1. 2.81 
I. 8.79— 88S 
1, 6.81— 85S 
1. 3.83 
1.11.84 
1.12.82— 84D 
1.11.87 

1. 8.67— 79D 
1.12.68— 80D 
1. 9.71— 83D 
1. 2.75— 86D 
1. 9 76— 87D 
1. 3.77— 88 D 
I.JD.77— BBD 
1.1279 
1. 2.81— 85D 
1. 2.83 
1. 2.83— 87 D 
15 2.83— 88D 

1. 3 75— 84D 
1.11.75— 84D 

2. 5.80 

I. 377— 86D 

1.10.77— 86D 
I. 378— 87D 
1. 9.80— 87D 
I. 2.79— 88S 
1. 7 79— 88S 
I. 9.81 
1.12.80 

1. 181— 83D 
1. 7.80 — 83D 
1. 10.83 
1.12.81— 84D 
1. 8 62— 89D 
1. 3.85— 90D 
1. 2.77— 86D 
1. 1 .78 — 87D 
1 . 1 1 .75 — 78D 

1.12.78— BIS 

1. 9.70— 79D 

2. 171— BOD 

1. 6.72 — 83D 
1.12.72— 83D 

2. 5.73— 84D 


For current prices and further information cal! 




Dusseldorf Telephone 

Westdeutsche Landesbank Telex 
Girczpntrale 

P.O.Box 1128 Telephone 

4000 Dusseldorf 1/FRG Telex' 

London 

wesiaeutsche Landesbank Teieohone 
Girozentrale Telex 

London Branch 
21 Ai/sfin Frrars 
London EC2N 2HB/UK 

Luxembourg 

WestLB iniernatianal S.A TWeohone 

47. Boulevard Revile Tel*> 2c ol 

Luxembourg 


8263122 I 
8581882 / 


Ir.temaiional Bond 
Trading DepL 


8 *1 

0 581882 J lr| siiiunonal Investors DepL 


6386141 
687 984 


Hor^Kong 

1SC.1 Hutchiscn House 

Horj song 


Telephone 259208 
Tfcje» 75 142 


Westdeutsche Landesbank Girozentrale 
.Leading Marketmakers in Eurobonds 


636^- 3i0 .. . 


71% Finland 69/84 

8i% Fin'und 70/85 

7 : a Finland 72/87 :... 

8% Finland 76/34 

5}% Finland 78/83P 

5s% Finland 78/86 

7}% Finn. Kommunal 69/81 iGJ 

8% Finn. Kommunal 72/83 «G) 

8i%. Forsmarks 75/83 <G) 

5i% Forsmarks 78/90 (G) 

7}% Francetel 76/83 (G) 

6i% Francetel 77/34P IG) 

7% Fuji Heavy 76/8 IP 

9}°o Gen.- Zbk. Vienna 75/82P 

8':% Gen. Zbk. Vienna 76/83P 

6% Gen. Zbk. Vienna 77/87 

9:% Giroz. Vienna 74/7BP 

91% Giroz. Vienna 74/7 «»P 

9J% Grroz. Vienna 74/80P 

7% Giroz. Vienna 76/81 

7;% Giroz. Vienna 76/83 

5j?o Giroz. Vienna 77/82 

6% G.I.S. 78/83 P 

8% Glaxo Fin. 71/86 ...; 

9j% Goeiebors 75/B5F 

6J% Goodyear Tire 72/87 

7% Grand Metrop. Fin. 77/84 

71% Guardian Inv. 73/83P 

8°^ Guost-Keen Nettl. 76/83 

6j% Hamersley Iron 72/87 

8% Hazama-Gumi 76/81 P 

7% Helsinki 63/83 

7% Hicachi Cable 77/82P 

8!% Hitachi Shipbldg. 76/81 

8}% Hoogovens 70/85 

8i% IAKW Vienna 75/85 (G) 

71% Iceland 69/84 

7'.% Iceland 77/87 

84% 1CI fnt’f. 70/85 

8% I C I lntn*l. 71 /B6 

6'-% 1CI IntnT. 72/92 

8 ,,? ; ICI Int'l. 75/82 

7- '% »C! Int’l. 76/86 

61% JCI Inti. 77/87 

8% ICI PU 71/91 (G) 

8% Imatran Voima 71/86 (G) 

8% Imatran Voima 72/87 (G) 

72% lnd. Dev. C. South-Afr.P IG) 

7% Indusir. Bk. Japan 60/83 

8}% Industr. Bk. Japan 70/85 

.'6J% Industr. Bk. Japan 73/80P 

6j% Industr. Bk. Japan 73/8 IP 

5% Industr. Bk. japan 78/84 

7J% lnd. Min. Dev. Iran 73/85 

7J% Irtd. Mm. Dev. Iran 77/87 

6i% lnd. Mtgebk. Finl. 64/79 (G) 

&£% lnd. Mtgebk. Finl. 68/80 (G) 

B% lnd. Mcgebk. Finl, 71/86 (Gl 

7% lnd. Mtgebk. Finl. 72/87 IG) 

9% lnd. Mcgebk. Finl. 75/84 IG) 

54% Int. Am. Dev. Bank 64/79 

6i% (nt. Am. Dev. Bank 68/83 

7% Int. Am. Dev. Bank 69/04 

8y% Int. Am. Dev. Bank 7(M85 

6J% Int. Am. Dev. Bank 72/87 I 

6i% l nt - Am. Dev. Bank 72/87 II 

8% (nt Am. Dev. Bank 76/82P 

84% lnt. Am. Dev. Bank 76/B3P 

7% Int. Am Dev. Bank 77/87 

Int. Am. Dev. Bank 78/88 

61% Int'l. Coml. Bank 73/83 

7% IRAN 68/78 

7}% Ireland 69/84 

■. S!% Ireland 70/85 

8J% Ireland 76/81 

5 1% IRI ex. warr. 64/79 t G ) 

7J% ISCOR 71/86 (G) 

7% ISCOR 72/87 IG) 

7% ISCOR 73/88 (Gl 

.8}% lSCOr- 77/80 IIP IG) 

8J% ISCOR 77/80 IIP (G) 

8i% ISCOR 77 180) 11 PP 

7J% ISCOR 78/82P (G) 

6% Japan 64/79 

7% Japan 68/83 

7;?£ Japan Bk 76/83 <G) 

8- 1% Japan Synt. P.ub. 76/81 P 

8% Johannesburg 7 i ,'86 IG) 

6k% Johannesburg 72/87 (G) ............ 


103.50 

7.25 

321 

637 

105.00 

E.I0 

3.82 

7.11 

102.05 

6.86 

4.62 

650 

105.15 

7.61 

4 46 

6.63 

99 50 

5 53 

467 

562 

98.12 

5.86 

7.67 

606 

103.25 

7.26 

1.96 

5.31 

103.75 

7.71 

2.88 

6.54 

106.35 

7 7t 

3.55 

6.19 

98 12 

5 86 

7.97 

6.05 

106.00 

7 02 

537 

6 M 

103.25 

6 54 

5 83 

6 07 

102 50 

6 03 

350 

6 17 

1 10.00 

6.41 

3.75 

6.17 

107.50 

7°\ 

4 )6 

6 37 

101.00 

S*4 

7 44 

5 ?2 

100.75 

o*3 

0 50 

7 n 6 

106.25 

«> <9 

I..W 

5 18 

108.25 

cm 

2.50 

6 06 

105.50 

6*-' 

3 *2 

5 1* 

IC7.00 

4 75 

542 

5 70 

101 75 

5 41 

4.33 

5 03 

°8.00 

6 »2 

4 75 

6 4P 

104.00 

T6 J 

0 00 

7 43 

J0B.25 

<j r.i 

4.59 

7 54 

103.00 

6 55 

4 76 

5 99 

102.00 

6 Sb 

4 63 

648 

103.00 

7.04 

2.61 

5 95 

107.90 

7.41 

4.92 

6.09 

102.90 

6 56 

4.89 

6.04 

105.00 

7 V: 

3.00 

6 1? 

102.00 

6.Pf 

3 02 

6 36 

103.00 

6sn 

358 

6 03 

103.75 

7*5 

2.75 

6 69 

107.00 

7 9' 

3.97 

6 S3 

I0B25 

8 0? 

4 33 

6 50 

10325 

7 0; 

3 33 

6 25 

106.00 

7 31 

561 

643 

105.50 

8 C6 

3 66 

6 09 

103.80 

7 71 

4 3U 

693 

101-50 

6 *"0 

6 97 

6 72 

1C5.75 

8 0-- 

4 17 

6 96 

10575 

7 0- 

7 48 

6 49 

104.00 

6 4* 

7 38 

6 06 

102.75 

7 79 

6.08 

7 57 

103.50 

7.''? 

4 34 

■7 17 

102.95 

7 70 

4 36 

7 05. 

99.75 

7. 77 

3«2 

7 82 

105.40 

6 

2 93 

5 06 

IOS.OQ 

9 10 

3 57 

701 

101.00 

6 44 

2.00 

5 95 

101.00 


2 92 

6 11 

98 15 


5 58 

5-iO 

101 50 

7 59 

3 78 

7 03 

103.75 

7 47 

7 02 

7 0S 

101.25 

6.'~ 

0 92 

4 89 

101.60 

6t- 

1 40 

5 62 

102.85 

7 7S 

4.26 

7 34 

101.75 

6 SS 

487 

6.66 

105.75 

S.51 

3.24 

6 94 

101.00 

5-J5 

1 08 

4.52 

102.25 

6 b0 

3.02 

6.01 

104.00 

6.7? 

3.58 

5 83 

1 ip.70 

7 f-i 

3 62 

5 25 

102.75 

6 

5 00 

6 10 

102.00 

6 b" 

5 12 

6 77 

105.50 

7 53 

4.7! 

6.59 

106.00 

1 w 

508 

6.81 

105.25 

6*? 

653 

5.99 

100.75 

6.20 

9 58 

6.14 

102.25 

6 60 

2.94 

589 

100.00 

7 25 

0.50 

7 38 

101.75 

713 

312 

6.72 

10? F0 

P." 

3 56 

7 49 

105.50 

7 yr 

2 53 

546 

94.00 

c c ■ 

1 08 

6 83 

99.50 

7 74 

8 00 

7 99 

96.50 

7 25 

4.50 

8 08 

95.25 

“ 35 

4 0J 

8 20 

101.80 

E?.' 

5 60 

B 07 

101 00 

S r 

2.29 

7 73 

101.00 

0 r 

2.03 

7 66 

99.75 

? 77 

3 33 

7.82 

Iftl 25 

5 C ? 

l 00 

4 76 

115 50 

a 41 

2 70 

* 06 

lf*4 ->5 

~ 4 

A P? 

573 

]07 nn 

- 7 ■ 


S7P 

101 55 

7 

-100 

773 

94 DO 

6. e S 

4.44 

7.89 


1.10.73— 84D 
1.12 76—855 
I. 4.78— 87S 
I 6-81— 84S 

1. 2.83 
I 2.86 

1.12.72— BID 

2. 5.76— 8 3D 
1 7.80— 83D 

16. i.83—90D 
16. i 0 83 
1. a.B4 
1.1291 
I . 3 82 
1. 2 82 — 83D 
1 12 83— 87D 
1.1278 
1.13.79 
1.1230 
1 II B1 

I 11.83 
1.1082 
l 3 82— 83D 
cl/d p. 

1. 7.781 104 ) 
1 2.81— B5D 
1 12 78—875 
I. 8 81— 84S 

1. 2 79— S3D 

2. 5 83 

1. 7.78— 87S 
I 4.78 
1 7 72— 83S 
! I 82 
I 3.31 

I 6.76— 85D 
/. 5 80 — BSD 
l 5 73— 34S 
1 a 90—873 
I 10 76—855 
I 10 77—863 
1 3 78 — q 2S 
I. 8.32 
1.12.84— B&D 
1 5.84 — B7D 

I 177-9 ID 

I. 4.77—865 
l. | 78—875 

1 5 82 

J 12 72—835 
l. 9 74— e53 
1. 6 90 
I 5.S1 

1. I 84 

1 5 77-85S 
I 7 83— 87S 

2. 5.70— 79D 
I 11.73-000 
1.12.77—860 
1 7 76— 87D 
1. 4.78— 84D 
1 7.70— 79D 
I. 7.72-83S 
1 8.75 — 8 J S 
j 9 74—855 
I. 6 72 — 9 T S 

1 1 1 78— 87S 
16. 2.8? 

I. 7.63 

J. 1 .63 — 675 
I. 1.88 

1. 6.79 — 83D 
1.12.71— 785 
1 9 75— fi-'D 
l. 9.76— BSD 
I. 181 

30. 6.75— 7*»D 
I. 6.77-86D 
I 4 78— 87D 
1 3 74— BSD 
1 1 1 79— BSD 
16. 9.79— 80D 

1. 4.91-S2D 
I 6 70 — 7°D 
» ?T2— S?S 
I. 4 33 
! 781 

1 9 77— 86D 
). 9.78— 87D 


7i% Jydsk Telefon 69/84 


7% Kobe 6S/83 (G) 
63% Kobe 69/84 (G) 
7J% Kobe 71/86 |G) 
6}% Kobe 72/87 (G) 
8\% Kobe 7S/80P IG) 
7}% Kobe 76/83 (G) 
6*% Kobe 77/87 


«,-a iNgmi.iwm. 

7\% Korea Dev. Bank 77/84 .. 

51?; Kubota Inti. 77 /82P 

51% Kvaener lnd.78/88P 

Ugh e-Servicos 77/82 <G) 


10% Lonza Int'l. 74/79P 

8^% Lonza Inti. 75/BOP 

7% Malaysia 72/84 

6}% Malaysia 77/85 

91% Malmoe 75/84 ................... 

8- r % Malmoe 76/83 

6i% Manitoba 77/84 

6i% Manlt- Hydro El. 72 '37 ...... 

63% Megal. Fin. Comp. 78'90 

7% M E P C 73 '88 

7% Mexico 68/80 

7% Mexico 68/84 

7i% Mexico 73/98 

9% Mexico 75/82 

8% Mexico 76/83 

7J% Mexico 77/84 

6% Mexico 78/85 

7*% Mitsubishi Gav 76/81 P .. 

7’% Mitsui Toatsu 76/81 P 

9% MODO 75/83 

7% Montreal 69/89 

6% Montreal 72/92 

6i?o Montreal 73/93 

8}% Montreal 76/86 

7% Montreal 77/87 

7}% Mortg. Denmark 69/84 (Gl . 
71% Mortg. Denmark 71/86 I G > . 
7% Mortg. Denmark 73/38 (G) . 
6J% Mortg. Bk. Finl. 69/84 (G) . 

7}% Mafi. Mexico 69/79 (G) 

8j% Nafi. Mexico 76/83P (G) .... 
7% Nafi. Mexico 77/82P (G) .... 
8i e o Kafi. Mexico 77/84 (Gl 


t ) ■? iNili. nuiiua*/ 

6}% National Lead 67/79 ... 
8% Natl. Westm. Bk. 73/S 
6(% New Brunswick 72/87 
7 j % Newfoundland 69/84 
8% Newfoundland 71/86 
63?o Newfoundland 72/87 
6}?^ Newfoundland 73/88 
7% New Zealand 68/78 ... 
63?b New Zealand 69/84 ... 
7}% New Zealand 71/86 ... 
7% New Zealand 72/87 ... 
9\% New Zealand 75/BOP 
91% New Zealand 75/80P 
8J% New Zealand 75/SOP 
93% New Zeaiard 75/62 ... 
7}% New Zealand 76/83 ... 
73% New Zealand 76/86 ... 
6i% New Zealand 77/84 ... 


5s % Norcem 78/85 


S ; .% Norway 75/80 
S‘% Norway 75/80P 
7;% Norway 75/80 
Norway 76/BI 
7 °.j Norway 76/81 
6 ! % Norway 77 .'82 
6}% Norway 77/82 
51% Norway 77/82 
4.'% Norway 7B-*83 
4 i‘ : ’ 5 Norway 78/83 
7 % Norw. Mortgage 


N c* I'twa Jvuu a * ■ i 

7% Nova Scotia Power 72/87 


Oe*t LanderbanV 77/82 iGl 

O KO 69 '79 <G1 

(Iitafio 69/84 


Middle 

Price 

Current 

yield 

Life* 

Yield tg 
Maturity* 


7.09 

3.16 

6 55 

102 .00 

662 

4.75 

6.24 

102.90 

7.05 

5.36 

6.59 

107.00 

8.41 

4.C9 

6 95 

104.00 

6.49 

3.17 

5.43 

.... 105.40 

7 35 

4.26 

6.26 

.... 106.20 

874 

X98 

6.40 

— 102.85 

6.56 

5-17 

6 09 

.... 103.25 

634 

4.73 

5.93 

.... 103.00 

7.16 

5.50 

6.69 

.... 10275 

7.30 

4.56 

6.90 

.... 10130 

6.90 

4.70 

6.61 

10375 

645 

5.54 

6.33 

.... 10275 

877 

3.64 

7.76 

9875 

509 

3.81 

5.52 

.... 104.75 

6.68 

2.95 

5.31 

... 10475 

6 47 

3.34 

5.4! 

■■■■ 10675 

776 

4.21 

5.P3 

.... 103.15 

634 

4 72 

5.96 

— 102.50 

8.C5 

200 

657 

.... 1 07 .CO 

7.01 

5.00 

5.25 

.... 10675 

609 

9.00 

5 53 

.... 103.50 

7.49 

3.81 

6.67 

.... 103.00 

777 

4.22 

7.13 

... 98.85 

7.33 

630 

7.47 

... 100.00 

5.25 

4.50 

5.24 

9875 

5.85 

7.69 

6.04 

.... 105.50 

0.06 

3.75 

6.77 

.... 96.90 

6.97 

7.92 

728 

.... 104.00 

0.17 

3.73 

7 39 

.... 105.00 

9.52 

1.42 

6T5 

.... 104.00 

7.93 

1.96 

6.02 

101.25 

6.91 

341 

6 58 

97.25 

6.68 

7.25 

6 99 

.. - 108.50 

8.53 

4.13 

6 80 

.... 105.45 

7,82 

3JJ 

6.31 

I06.6S 

6 09 

6.08 

5.19 

103.05 

6.55 

5 00 

6 03 

100.37 

6.23 

9.00 

6 19 

.... 100.50 

6.97 

5.14 

6.83 

... 102.80 

6.01 

1 49 

5.09 

... 10180 

6.88 

3.00 

6.42 

102.00 

7.11 

4 82 

6.74 

.... 100.00 

8.33 

4.00 

6 69 

.... 106.25 

733 

5.00 

6i0 

104.75 

7.40 

6 00 

6.76 

.... 95.87 

6 26 

6.83 

6 77 

10375 

7.51 

3 DO 

6.52 

.... 103.00 

7.52 

3.29 

6.69 

.... 105.00 

8.57 

3.46 

7.31 

.... 102.35 

6.84 

5.52 

6.47 

.... 99.50 

6.03 

6.70 

6.09 

.... 10175 

6.63 

7.42 

6.45 

.... 1 05-50 

8.06 

4.41 

7.00 

.... 102.10 

6.06 

4 92 

6.48 


7.21 

3 30 

6.23 

104.50 

7.42 

4.08 

6 58 

.... 103 00 

6.50 

5.33 

6 32 

.... 10270 

6.59 

3.25 

5.98 

.... 101.00 

7.18 

1.00 

6.30 


875 

5.50 

7.37 

.... 100.00 

7.00 

4 25 

6.99 

.... I06<0 

8.22 

5 75 

731 


874 

575 

7.36 

106.75 

773 

3 03 

579 

.... 98 00 

6.63 

7.42 

6.84 


6.48 

1 00 

623 

.... 106.00 

7.55 

5.57 

6 66 

.... 103.40 

6.53 

4.68 

5 89 

.... 105.00 

6 90 

3.53 

577 

10575 

760 

4.50 

6.60 

.... 101.50 

6.65 

4.66 

6.36 

.... 102.00 

6.37 

6.J8 

6.10 


7.00 

0.08 

7.02 

.... 104.50 

6.46 

3.09 

5.22 

.... 104.50 

7.18 

4.25 

6.38 

.... 104 .CO 

6.73 

4.47 

5.94 

.... 106.50 

8.92 

1.67 

5.29 

.... 106.25 

8.71 

1.67 

520 

106.75 

773 

2.03 

4.76 

.... 109.65 

8.88 

3.5S 

6.55 

.... 107 50 

6.9B 

4.75 

5 65 

.... 107.50 

7.21 

6.36 

627 

.... 104.50 

5 98 

5.92 

5 34 

.... 101 37 

5.18 

775 

5 03 

.... 104.75 

8.59 

2.81 

706 

.... 107.00 

8.18 

375 

657 

.... 105.75 

7.80 

4 00 

657 

.... 107 25 

7.23 

5 33 

6.11 


5 74 

6.75 

• 5 72 

... 105 50 

B.06 

3.66 

6 89 

... 10525 

7.60 

XOO 

5.17 

... 105 50 

738 

2 0B 

5 14 

... 105 00 

6.60 

2.92 

4.74 

... 104 50 

670 

6.54 

6 14 

G) 100 75 

5 96 

7.06 

5.86 

G) 101.00 

5.94 

11 o0 

5.87 

.... 107 00 

7.94 

4.01 

6 45 

.... JOS 25 

7 39 

7.4 J 

6.56 

.... 100 60 

5 96 

9 36 

5S2 

.... 105 00 

6.90 

7.91 

6.42 

.... 10475 

6.71 

9.20 

637 

.... 109 50 

B.22 

5.08 

6.72 

111.50 

7.17 

7.25 

599 

.... IGl 75 

6 57 

7 78 

6 29 

.... 10 7 25 

769 

1.92 

4 23 

.... 105.25 

7B4 

2.00 

54J 

.... 107 25 

7 23 

2.50 

4.60 

.... 106 25 

659 

272 

4.65 

.... 109 10 

687‘ 

3 08 

4 28 

.... 10450 

6.22 

3. 58 

5 03 

.... 104 00 

601 

3 93 

5 07 

.... 10-90 

539 

4 17 

4?6 

99 95 

4.75 

4.53 

4 76 

...." 97 60 

4 48 

4 S3 

4 94 

.... 105 00 

6.90 

6.90 

6 33 

9P' , 5 

6 0S 

11 46 

6 09 

.... 103 50 

7.35 

4 29 

6.37 

.... 103 50 

6.76 

4.76 

6 12 

.... 102**0 

6 35 

2 75 

5.62 

.... 10} 50 

5.01 

3 09 

5 54 

.... 103 15 

6 54 

546 

6 05 

... m.00 

7 00 

4 69 

509 

... 103 75 

6.75 

4.47 

6 12 

— 105 00 

6.67 

5.54 

591 

... 106 00 

9.67 

1.37 

5.55 

G) 10100 

9.65 

0 25 

5.42 

G) J0« 00 

9 13 

1.00 

5.29 

Gj 104 00 

9.13 

1.08 

5.57 

G) 103 00 

680 

5.50 

6.33 

G) 103.50 

6.52 

5.67 

5.99 

S) 103.25 

6.30 

6.08 

5 85 

G) 101.00 

6.19 

6.17 

6.05 

G ) 102.25 

6.07 

7.42 

5.61 

S> 100.75 

5.46 

7.67 

5 37 

... 101 25 

543 

4.50 

5.17 

... 100 no 

6.25 

0 91 

6.34 

... 105 00 

6.19 

3.10 

4.80 


; Pertinent 
D - mancutorv di 
bv lai ar par 
S- ;,n k.n? fut.il 


15. 9 75— B4S 
1 3.78— 87S 
1. 279— 88S 
1. 7.82 
1. 3.75— 84S 
I. 5.77 — 8aS 
1. 6.80— 82D 

1. 5.79— 835 

2. 5.78^—875 
1.12.83 

2. 1.78—875 
1. 5.78— 87S 
1. 4.79—805 

1.10.76 — S5D 
J. 5.79— 35D 
1. 6.72-835 
1. 5.73— 84S 

2.77—865 
1 . 5.73—675 

I. 6.80 
1. 6.83 
1. 6.87 

i. a .SI— S3D 
15.10.77— 84D 
1.1X84 
1.12.81— 82D 
1. 3.84— 8SD 
1. 3.82 
1. 5.B6 

1.1 1.76 — 85S 

1. 1 1.79 
15. 5 JO 

I. 6.75— 84D 
1. 9.85. 

1. 2.B1— 84D 
1. 3.80— 83D 
1 . 7.84 

1. 6.7B — 87S 

2. 1.35— 90S 
1. 5.75— 88D 
1. 6.71— 305 
X 1.73— S4S 
1. 1.79— 835 
I. 7.82 

1. 6 83 
1 . 6.84 
I. 4.85 
1. 6.81 
15. 9.81 
I. 6.80— B3D 
1. 4.70— 89D 
1. 9.73— 92D 
1. 674— 93S 
I. 7.77—865 
16 . 7 78— 875 

1.11.75— B4S 
1. 3.77— 36D 
1. 7.79— 885 
1. 4.73— 845 
1. 6.72—793 
1.12.83 

1. 9.82 
1. 3.84 
1. 3.84 
1. 7.81 
1.11.85 
1. 6.72— 79S 

1.10.79 — 8BS 

1.11.78— 87S 
1. 8.75— 84S 
1. 8.77— 86S 

1.1 1.78 — 87S. 
]. 4.81—885 
due I. 7.78 
1. X75— 84D 
1. 5.77— 86D 
1. 2.78— 87D 
1. 2.80 

1. 2.80 
1. 7.80 
I. 1.82 
1. 3.83 
1.1 1-82 — 86D 
1. 5.34 
1. 3.86 
I. 4.80 — 82D 
1. 3.82 
1. 6.82 
1.10.33 
I. 3.85 

1.10.76— 85S 
1. 6.80 

1. 7.80 
I. 5.81 
1. 4.80— 895 
16.10.80— 89S 

1.12.80— 895 
1. 2.30-84S 
1. 6.83— 885 
1.11.54— 85D 
1.12.83— 88S 
I. 7.84— 09S 
1. 3.80— 87D 
1. 4.83—885 
1. 6.82—895 
1. 5 80 

I. 6 80 

1.12.80 
1. 581 
1. 781 
1. 1.82 
I. 4.82 
I. 8.82 
1. 1.83 
I. 4.83 

15. 5.83 — 

16.1 I 32— 89D 
1. 12 77 — 86D 

1.12.78— 97S 
1.10.72—835 
1. X6S— 84 D 
1. 3 79—885 
1. 3.5 J— 8SD 
1. 2.73— 87D 

16.1X83 
16. 10.79 
I. 9.78 
1. 6.79 
1. 7.79 
1.12.83 
I. 2.84 
1. 7.84 
1. 8.84 
1 . II .85 
l. 2.86 
1.12.82 
1.11.70— 79D 
I. 2.75— 84 D 


WestLB Schuldscheindarlehen 

4 year maturity : 5.25‘> 


Ontario 72/87 

Ontario Hydro 69/84 

Ontario Hydro 71 /84 

Ontario Hydro 72/87 

Ontario Hydro 73/88 

Osaka 64/79 iG) 

Osaka 65/80 ■ G 1 

Oslo t>4/7 9 

Oslo 65/80 

Oslo 67 /79 

Oslo 69/84 

Oslo 71/87 

Oslo 73/90 

Oslo 75/87 

Outokumpu 68/78 (Gl 

Papua 73/88 

Parker-Hannifin 77/87P 

Pemex 75 S3 

Pemex 77/84 

Pemex 78/86 

Petrobas 77/84 

Philip Morris 72/87 

Philippine 77/54 

Philippine 78/85 

Phillips 75/8 IP 

Phillips 75/81P 

Phillips 75/82 

PK'Banken 75/83 

PK-Banlren 78/88 

Platm. Ma>moe TS^OP 

Privarbk. Copenh 77'83P ... 
Pyhrn Autohthn 77. ‘69 <G) 

Quebec 72 /HZ 

Quebec 77/87 

Quebec 77/87 

Quebec 78/90 

Quebec Hydro El. 69 ; 84 

Ouphec Hvdro El. 69/84 

Quebec Hydro El 71/86 


5 year maturity: 5.50 f b 


1. 9.80— 87 D 
1 8 75— 84D 

1.12.77— B6D 
1. 6.80— 87 D 

1. 3.81 — 88D 

2. 1.70— 79D 
I. 2.71— 80D 
1. 4.70— 79D 
I. 3.71 — BOD 

1. 3.72— 79D 
(.11.75— 84D 

2. 1.78—875 
1. 7.76— 90S 
.1. 3.7M7S 
1. 9.72— 78 D 
?. 7.79— 885 
1. 6.83 — 87D 

1.12.83 
1. 9.84 
1 . 1.86 

1.10.84 

1.11.78— 87D 

1.11.84 
1. 4.85 
1. 4.81 

>5. -4.8! 

15. 3.82 
clld.p. 

1. 8.78(102) 
I. 5.84— 88D 
I. 5.80 

I. 4.83 

J. 9.84— 8?D 
1. 7.78— 87D 
1 . 2.87 

I. 6.87 
1. 5.85— 90D 
1 2.75—84S 
I. 9.75— 84D 
l. 9.77— 86D 


101.50 

5.91 

5.61 

5.67 

104 00 

6.73 

3.58 

5.83 

106.00 

7.08 

4.31 

5.87 

102.90 

6.32 

5.35 

5 35 

103.50 

6.28 

6.10 

5 80 

101.00 

b.44 

0.59 

480 

101.00 

6.19 

1.16 

5.41 

IOOJO 

5.93 

0.83 

5 69 

100.50 

5 72 

1.24 

5 39 

101.55 

6.89 

0.75 

4 67 

104 90 

7.15 

3.30 

593 

105.25 

7.13 

4.58 

6 26 

102.00 

6 52 

5.85 

6.33 

108 25 

8.31 

4.72 

6.88 

100 00 

7 00 

0.25 

7.06 

105 50 

6 40 

5 81 

S.61 

101.50 

6.65 

6 94 

6 47 

107 80 

8.12 

5 50 

6 98 

102 50 

683 

6 25 

6.49 

102 90 

6 80 

7.E8 

6.49 

100 50 

6.97 

633 

689 

104.25 

647 

4 69 

5.68 

100.40 

7.22 

6.42 

7.16 

95.12 

7.10 

6.83 

7.59 

107.00 

8.18 

2 83 

5.98 

106 00 

8 02 

2.87 

6.15 

108.00 

8 <0 

3 79 

6 30 

102.50 

B.29 

0.17 

5.03 

95 50 

6 02 

7.85 

6.50 

104 50 

8 0S 

1.92 

6.66 

102 91', 

7.07 

4.83 

6 62 

[0f 75 

6.17 

S.66 

6 06 

101 00 

6 44 

4 88 

6.25 

106.00 

7 08 

8.67 

6.56 

104 50 

6.94 

9.00 

657 

97.15 

6 IS 

9.33 

6 41 

102 53 

6 59 

3 08 

5 93 

103 75 

6.99 

3.13 

600 

104 60 

7.65 

4.03 

6 79 


Continued on gauge 22 




24 







Extel « 

really comprehensive 
International Bond 
Service. 

EXTEL, 37 Paul Street, London EC2 


MARKET MAKERS 


REGION 1 - BELGIUM 


105 Bondtrade 
110 Dewaay, Sebllle, Servals 
Van Cam pen ho at & Cie 
115 Kredietbank N.V. 


REGION 2- FRANCE 


230 Basque Arabe et Internationale 

d’Investlssement (B.AAI.) 

225 Basque LooJs-Dreyfns 
205 Banque Nationale de Paris 

75009 Paris 16. Boulevard des Italieni 

P 225-4700/523 5500 
T 650S14/650S19 

210 Credit Commercial de France Paris 

215 Credit Lyonnais 

218 E. F. Hutton Services S-A.R-L. 

220 Intern nion-Banque 
270 Smith Barney Harris, Upham & Co. Inc. 
75001 Paris 20 Place Vendome 

P 260-3404 T 680608 


REGION 3 - GERMANY/ AUSTRIA 


300 Commerzbank AG 

6000 Frankfort Neue Mainzer Strasse 3_-36 
P 13621 T 416111 
T 416345 

305 Deutsche Bank AG 

6000 Frankfurt Grasse Gallusstrasse 10-14 
Jungtaofstrasse5-ll 
P 21 41 T 4167314 

306 Dresdner Bank AG 

6000 Frankfurt Gallusanlage 7-8 
P 2631 T 414 901 
P 23 08 21 T41220 

307 Westdeatsche Landes bank Girozentrale 
4000 Dn5seldarf Fried rich strasse 56 

P 826 31 22 T 858 1SS2 


309 Creditanstalt 

Bankvcrein 

1016 Vienna 

SilieoltKncasse 6 

P 63602540/1 T 74334 

310 Girozentrale 

und Bank 

«l<rr oslerTcicbihclicn Sparka-sscn AG 

1011 Vienna 

Schuherlrin" 5 

P 72 04 272/72 »4 772 T 13 1 95 


| REGION. 4 -ITAlY^r . • 


405 Banca Coramerdale Italiana Milan 
407 Banco Amhrosiauo S.p.A. 

409 Banco di Roma 
415 Crcdiln Ilaliano 

20123 Milan Piazza Cord u sin 2 

PS7 17 44/8S62 T 35 611 
PS9 01 16 

420 Tstitufo Bancario Ilaliano 

425 Istiluto Bancario San Paolo di Torino 

430 Monte del Paschi di Siena 


REGION 5- LUXEMBOURG 


505 Banque Generale du Luxembourg S.A. 

510 Banque Internationale S Luxembourg S.A. 
540 Bayerische Landesbank International S.A. 
Luxembourg 25 Boulevard Royal 

P 474021 T 1249 P 475911 
515 Dewaay Luxembourg S.A. 

520 Kredietbank S.A. Luxembourgeoise 
Luxembourg 43. Boulevard Royal 
P 26411 T 1451 

530 Swiss Bank Corporation (Luxembourg) 


REGION 6- NETHERLANDS 


600 H. Albert de Bary & Co. N.V. 

601 AJgemene Bank Nederland N.V. 

602 Amsterdam-Rottenfajzi Bank N.V. 

603 Bank Mees & Hope N.V. 

604 Barclays Kol & Co. N.V. 

Amsterdam Herengracht 500 

P 262 209 T 12 130/12 193 
611 Centrale Rabobank Utrecht 

St.Jacobsstraat 30 
General P 3691 11 T 40025 
Trading P 362410 T 70105 

605 Bank Morgan Labouchere N.V. 

610 F. van Lanschot 

606 Nederlandscbe Middeostandsbank N.V. 

607 Nederlandse Credlctbank N.V. 

60S Pierson, Heldrtng & Pierson 

609 Siavenburg, Oyens & Van Ecgben N.V. 


I REGION.7- SCANDINAVIA 


705 Bank or Helsinki Ltd. 

(Helsingfors Akliebank) 
740 Den norske Creditbank 


i>en Danube Rank nr 1871 Aktleselskab 
1092 linlmens Kanal 12 

Cnpenhacrn K P 131SS6 T 19441/19065 
P 156505 

R. Ilcnriqui'-i i* - . Bank-Aklleselskab 
1200 llojhrri Piads 9 

Copenhagen K P 12 00 52 T 10 162/19 952 
Kansallis-IK.ik*‘-Pankki 
Kihbenlia\ n' Handefsbank 
1091 llolinene Kanal 2 

Copcnhasm K P 12 SB 00 T 19 177 
PoslipankM 

Prlvaihanki'ii \ktirselsfcah 

San«linavi-ka Lnskilda Ban ken 

10640 Kun^sirSdeardsaatan S 

Stockholm r 763 50 00/24 28 30 Til 007 

Union Bank nf Finland 

(Nordlska FimMtingsbaiikcn Ab) 


REGION 8 - SVV3TZERLAMD 


800 Bondpartners S.A. 

805 Credit Snis>e/Swtss Credit Bank 
860 Swiss Bank Corporation 

8022 Zurich Paradeplatz 6 

F 223 11 11 T 53471 
870 Union Bank of Switzerland 


[| REGION 9 -UNITED KINGDOM ~ 


901 Akroyd.& Smiihers Limited 

950 Bankers Trust International Limited 

910 Banque Francaise de Credit International Ltd. 

911 Citicorp International Bank Limited 

London 835 Strand 

WG2R 1LS P 836-1230 T 88 4933 

912 Continental lliinois Limited 

914 Credit Suisse White Weld Ltd. 

London 1 22 Leadeabali Street 

EC3V4QH P 2884200 TS83731 

913 Daiwa Europe N.V. 

London S-14 SL Martins-le-Grand 

ECIA 4AJ P 600-5676 T 88 4121 

915 Deltec Trading Company Limited 
920 Dillon, Read Overseas Corporation 

London 10 Chesterfield Street 

W1X 7HF P 493-1239 TSS 11055 

P 491 4774 Trading 
992 Dominion Securities Limited 
925 European Banking Company Ltd. 

Loudon 150 Leadenhall Street 

EC3V 4PP P 638-3654 T 8951961 

927 The First Boston Corporation 

930 First Chicasn Limited 

931 Goldman Sachs International Corp. 

London 40 Basingbali Street 

EC3V 5DE P 6384155 TSS 7902 

P 638-9243 

932 Harabros Bank Limited 


933 rBJ Interna tinnal Limited* V 

London Bucklerebnty House - 

EC4N 4HR 3 Queen VictoTfeiSfcreet 

FTradtog 238^51- TSS 3411 
P General 23&S7 & •’ 

934 Hill Samuel * Co. Ltd. ' . 

935 Kidder Peabody Securities Limbed. 

London - 24th Floor - 

EC2P 2LA 99 Bishopsgate 

P63&6272- T ?B 4694/5/6/7, /S 

935 Loeb. Rhoades, Hornblower Tn£en£tiioital Ltd. 

London 55 Grosvenor Street 7 . 

W1X ■ SDB P 491-3381- T 25 432V; 

939 Kuhn Loeb Lehman Brothers. Inti', c : 

Loudon P.CLBoxl5. » ; -T . : . 

E.C3. Commercial UmoaBldS-, 

1 Undershaft * 

P 923-2904 T88746t- 
P 283-7727 . / 

936 Manufacturers Hanover XAiaitedJ 

937 McLeod, Young, Weir Inf ernxtl nnal 

940 Merrill Lynch, Pierce, Fenner & Smith 
(Brokers & Dealers) -LUL • 'N .s>. 

London 3-5 Newgate Street, r -1 . 

ECIA 7DA P 236-1030 TSS53S7/88H801 

941 Morgan Stanley International . 

London:. P.O.Box 132.: 

EC3P 3HB Commercial- Union Banding, 

• 1 Undershaf^.Lead^nhall Street 
General P 6^6-9221'. T 88 12564 
Trading P283£»1“T 885 1621/2 

945 Nesbit, Thomson limited 

942 The Nlkikd Securities Co. (Buropej Ltd. * 

. L ondo n Koyeat House :<\f. -A : ?- 

EC2V 7ZJ Alderm anbury Shiraro 

P 60B-7T71 ; TS847J7 

943 Nomura Europe N.V. . ■ 

London Barber-SurgeonsBalL 

EC2T 5BL UonkweH -Square;: ■ 

London WaU^T* : 

P 606-74S2/6 7T 88 11473 

946 Orion Bank Limited >' 

London 1 Lo n don Waif ' V ■ - ; 

EC2Y 5JX P 600-6222 TSS 3496 

P 600-8000 Trifling 

947 Salomon Brothers International Ltd.' 

950 Samuel Montagu & Co. - '. 

955 Scandinavian Bank :-- ; - 

960 Strauss, Turnbull & Co. - j.;. 

London 3 Moorgate Place : 

EC2R6HR P 638-5699 .TB8B201 

962 Sumitomo Finance IntemaHmiat 

London 66 Gresham Street ' •” 

EC2B 7 EL p 606-5645. XS8HQ43 

964 Vickers, da Costa & Co. Ltd. " Si:".;.’ 

965 S. G. Warburg & Cot Ltd, • . 

London 30 Gresham^treet ' 

EC2P 2EB P 600-4555 T8S8476/8S 3195 



tffi.rh.fc; 


Drexel 


P 212 7661212 


LEAD MANAGERS 

1 — Credi tanstalt-Ban kverein 

15 — Butler Bank 

16— Credit Suisse (Bahamas) Ltd. 

18 — Gutzwiller Kurz Bungenur Securities 
25 — Union Bank of Switzerland (U/Wi 
28 — Bankleumi Le-Israel 
32 — Banque de Bruxelles S.A. 

35— Banque Lambert S.C.S. 

38 — Burnham & Co. 

43 — Kredietbank N.V. 

46 — Societe Generale de Banque S.A. 

57 — Nesbit, Thomson Ltd. 

64 — Wood Gundy Ltd. 

72 — Privatbanker Aktieselskab 
77 — McLeod, Young Weir & Co. 

92 — Banque Nationale de Paris 

93 — Banque de Paris et des Pays-Bas 

94 — Banque Rothschild 

9fi — Banque de L'Union Europeonne 

103— Credit Commercial de France 

104 — Credit Industriel et Commercial 

105 — Credit Lyonnais 

112 — Lazard Fibres & Cie 


117— Societe Generale 
122 — Western American Bank I Europe > 
13g — Commerzhank/Banco di Roma/Credit 
Lyonnais 

140 — Commerzbank AG 
143 — Deutsche Bank AG 
150 — Wardiey Ltd. 

157 — Pkbanken 

159 — Kuwait Int Inv. Co. S.A.K. 

162— Arab Financial Consultants 
165— Union Bank of Switzerland 
(Securities) Ltd. 

27g — Westdeutsche Landesbank 
Gironzentrale 

183 — Jardine Fleming & Co. 

186 — Banca Cornmerciale Italiana 
189 — Banca Nazionale de Lavoro 
198 — Banco di Roma 
214 — Williams Giyn &: Co. 

218 — Orion Bank Ltd. 

219 — Kuwait Inv. Co. S.A.K. 

221 — Banque Europeenne du Luxembourg 
S.A. 

222 — Banque Gentrale du Luxembourg S.A. 

223 — Banque Internationale h Luxembourg 
S.A. 


224 — Banque Lambert. Ltixembourc. S.A. 

229 — Investors Bank. Luxembourg. S.A. 

230 — Kredietbank S.A. Luxembourzeirise 
U.-U — UBS DB Cnrp. 

235 — Blytii, Eastman Dillon A Co. Int. 

237 — Aigemene Bank Nederland N.V. 

238 — Amstcrdam-Rntterdam Bank N.V. 

245 — Bank Mces &- Hope N.V. 

247 — Nederlandse Credietbank N.V. 

249— Nederlandsche Middenstandsbank N.V. 
254 — Pierson. Hcldring & Pierson 

256 — Royal Bank of Scotland 

272 — Skandinaviska Enskiida Banken 

273 — Svenska Handclsbanken 

257 — Kuwait Foreign Trading Contracting 
& Investment Co. 

292 — Bankers Trust International I.td. 

297 — Barclays Bank International Limited 

298 — Barin- Brothers & Co. 

315 — Hambros Bank Ltd. 

316— Hill Samuel & Co. Ltd. 

321 — Investment Bank of Ireland 
3*23 — London Multinational Bank Ltd. 

326 — Klcinwon Benson Ltd. 

327 — Kuhn Loeb Int 


32S— Lazard Brothers dr Co. Ltd. 

332 — .Manufacturers Hanover Ltd. 

335 — Morgan Grenfell & Co. Ltd. 

336 — National Westminster Bank Ltd. 

337 — N'ikko Securities Co. (Europe) Ltd. 
33S — Kuwait International Finance Co. SAK 
343— Rabobank N.V. 

346— Rothschild N.M. & Sons Ltd. 

350 — J. Henry ScbYoder Wagg & Co. Ltd. 
552 — Caisse des Depots Consignations 

353 — Singer & Friediander Ltd. 

354 — Sumitomo Finance International 
359 — Warbure. S. G. & Co. Ltd. 

361— White Weld & Co. 

375 — Bank of America 
378 — Bear Sterns & Co. 

3S6— Brandt (Wm.) Sons & Co. 

3S9 — Kuwait Financial Centre 

396 — Daiwa Securities & Co. Ltd. 

397 — Dean Witter International Inc. 

399 — Dillon Read & Co. Lt± 

401 — Dominick & Dominick 

402 — Citicorp Int. Bank 

404 — Drexel Harriman Ripley 
408 — European Banking Company 


411— First Boston-. Corp. 

412 — First Boston (Europe) Ltd. 

413 — Merrill Lynch, Pierce, Fenner & 
Smith Inc 

418— Goldman - Sadis 4 e Co- 

421 — American' Express Middle East Devt, 

425 — Hayden 'Stone- Inc- 

43 1 — In terunion— ^Banque 

437 — Kidder; Peabody- & Co. Inc. 

438— Blytiv Eastman : Dillon & Co. Inc« .. 

440 — National -Commercial Bank Saudi 

Arabia. - . • . 

441 — Knhn Loeb & Co. 

445 — Lazard . Freres & Co. 

447 — Lehman Brothers 
449 — Loeb Rhoades ■& Co. 

454 — Merrill tyncfa/Pieree. Fenner & Smith 
456 — Morgan & Cie International 
458— Morgan Stanley' & Co. 

463— Noranra Securities Co. 

479 — Salomon .Brothers 

480— Banque Bruxelles, Lambert SJL 

481 — Postipanitki ” . . 

485 — Smith Barney 8c Co. 

487— Barclays Merchant Bank Ltd. 


488— Kidder, Peabody InttrpatiQn^l .Ufc ; } 1 

500— White Weld: A Qi. 

501— Yaraaicbi Securities ' 

510— Salomon Brothers'Xntern^MsCM’ i; 

511— Merrill Lj-ncb Intnl. Bank^^L ?? 

516— Union De Ranques - 

Francaises (UBAF) - •• s.'s ,c- 

517— Crtdit Suisse-White 


51S — Arab Finance Corp. ' r'.te-M:- ' . 

525— Banque Arabe et Int ' IXlfeveit; 

536— Loeb, Rhoades Intematioiml- Lfe Qf-. > • • 

555— Goldman Sachs & Co. Ltd. ioC> ^ • 

556 — Jardine Fleming Internati^aad : Jbjci: v : 


560— Jardine Fleming lntenwtianaJ,iit 

585— BJLLL (M/E) Inc. • 

586 — Bank Hapoalim 

594— Indo-Suez & Morgan Gms#dl-- " Vv r - 
( Singapore) *1 

599— Swiss Bank Corp. <Lnx.> y vs 

600— First Boston AG W* 

630— Barclays Koll & Co. V llJ ' 

637— National Bank of ' 

639 — Morgan Grenfell (A3la) -£M rv Y^' 

708 — Dean. Witter 

715 — Merrill Lynch Int. ( _ 


COMPILED FOR THE ASSOCIATION OF INTERNATIONAL BOND DEALERS BY INTERBOND SERVICES LTD. 




Credit anstdft-Bankverein -your partner inAustm 
for dealing in Austrian Schilling Bonds 3® 


If expertise in securities is money, 
Yamaichi is worth fortunes. 


and International Bonds of Austrian issuers f i 

•/ • } 


Middle Average Yield to 

Price Life average life 


w 


Ww ith 80 years experience, 

▼ v Yamaichi is one of Japan’s 
foremost securities firms, provid- 
ing the complete expertise you 
require to maximize opportunities 
in the securities field. 

With the yen becoming an 
increasingly stable international 
currency, our brokerage business 
on behalf of foreign clients in 
Japan has enjoyed unprecedented 
success. Success that can be 
attributed directly to our position 
of leadership among Japanese 
securities companies. Success 
that makes us your ideal partner 
in all aspects of the securities 
business: underwriting, brokerage, 
distribution, dealing, research, 
and investment banking. 


Yamaichi’s offices on four 
continents are linked by a 24- 
hour-a-day “hotline” which 
gives our international clients 
immediate access to data 
pertinent to their needs— up-to- 
the-minute stock quotations, 
economic and industrial studies, 
corporate evaluations, and 
investment and bond market 
analyses. 

If you're looking for 
expertise in securities, consult 
Yamaichi. In Japan and through- 
out the world, we have the 
know-how necessary' to offer you 
immediate and comprehensive 
assistance with your investment 
requirements. 


101,00 

1,70. 

. 7,88 

7.92 

101,75 

246 

8,12 

7,86 

101,50 

275 

8,18 

8,37 

10125 

2,46 

8,06 

8,40 

101,25 

1,90 

7,96 

8/40 

*101,75 

2,58 

8,06 

7,62 


Selected Austrian Schilling Bonds 
of Austrian issuers 
maturity up to 5 years 


8 % Osterreich 1973/B/81 

8 % Osterreich1973/HI/B/82 

81/2% Osterreich1975/S/83 
81/2% Innsbruck1974/B/82 
81/2% Steyr-Daimler-Puch 1 974/B/81 
7 3/4% VOEST-Alpine1973/B/82 


maturity over 5 years 


81/2% 6sterTeich1975/5/ni/85 103,50 4,48 817 

8 % Osterreich197G/S/ll!/B/86 99,25 6.% ft13 

8 % Osterreich 1977/S/B/87 99,50 6,20 8,09 

8 % Arlberg Stra/3entunnel1977/B/85 99,50 4,55 813 

81/2% Wien 1974/ 8/84 101,25 3.58 8L6 

8 % CA-BV1976/I1/A/91 99,25 6,84 814 

81/2% Energiel 975/1 J/B+ S/85 103^0 4,40 819 

8 .% Energie1977/S/l!/B/86 99,25 6^3 814 

8 % Semperit 1973/88 . 101^5 5^32 8il8 

Selected US-S Bonds of Austrian issuers - 

5 3/4% Voest 63/78 6 % Rep. of Austria 64/84 

5 3/4% Alpine Montan 65/85 • 6 3/4% Rep. of Austria 67/82 

6 5/8% Austrian E lectricity 66/86 8 3/4% Rep. of Austria 76/90 

6 3/4% Austrian Electricity 67/82 81/4% ‘Tauemautdbabn77jS7 

91/2% Osterreichische Kontrollbank 74/79 in Austrian Schilling (traded inUS-$ only) 


"■vvf. 

Cumeht Redemption ^ 'ty Xi&g ' 
Yield (mandatory' drawiri^Jjyf^; : 3; : 

■ ' . *• . - 

* .■ - / r 

rtf.:. 

7.92 15. 2.77-81 atlOl.O 

7,86 20.11 .74-82 at 102,0 Vl05S5-;in- 

8,37 5. 376-8^at100,0 tdlCpP-* •: 

8,40 19.1175-82 at1005 

W 29.1075-81 atlbo.5?i^>^ 

7,62 4. 777-82 at102,0 tp10^0 ^; 

* ■«. ' J.'.T 

- »— — V *m.' 


. , 

27.1179-85 at103.0tb1C&5 ! S 
2211.83-86 at 

15. 2.82-87 atlOO.O ^ i ' ti.k, 

29. 7. BO-85 at100,0 : ^;?^-S 
2 775-84 at 100,0 : . ; -C T-‘ 
7.10.77-91 at 100*0-7" 

29,1079-85 at1Q3^7 ''7^7 
4.1 0B2-86 atlOOJJ r • ; i It' 

30. 374-88 at 103,0 ■ ‘ '7777 




Uncommon vision in 
international finance. 



YAMAICHI SECURITIES CO., LTD. 

Head Office: 4 - 1 . Yaesu 2 -c home, Ch no-fen. Tokyo 104 . Iinan 
T dn: J 22505 TO: 273-5111 


Pam Office 23. rue de la Paix. Para 2*. France Teles: 680566 TO: 01 -26632 40 Zurich Offices Tfldinnw 17, SQ02 Zurich, Switzerland Teles- S952rs 
TO: 01-2028484 Yamaichi latcni«*l<K3»I fEurop*! Limited: 15th Floor, Si. Alphage House. 2 Fore Street. London. EC2Y 5AA Tele*: LDN 8S7414-8 
Tel: 01-628-2271 Yamaichi In taxational fPeetschlanJl GmbH; 4000 Frankfurt am Main. Bocfcrabeimcr Landstrotse 51-53. Rhan-Main-Ccnier. 4 
Ease, F.R. Germany Teler. 4-14996. 4-1M77 Tel.: 0611-7173 51 Yamaidil iQieraatianal (Nederlsodi N.V.: Fredcrikspiein 1, Amsterdam. Tha 
NetSnUads Telex: 1STO Tel: 0BMC456 

New York, Lo* Angelo*. Chicago, Montreal. 51 o Pa ilo, Hong Kong; Singapore, Bangkok. Seoul 


I nterest is payable without deduction for or on account of Austrian taxes. 
For current prices and further information please contact- 

For Austrian Schilling Bonds: Robert Jekl, Robert Wasinger 

(Telephone: 6622/1 701 or 1 707, Telex: 74261-63) 

For International Bonds; Walter Vogi CTelephone: 6622/2222, Telex: 76946) 
Code for Reuter Monitor Securities Program: CA DA, CA DB 


Credifanstalt-Bankverein 

Schottengasse 6. A 1 01 0. Vienna. 







- ■ -r!*. -J : : V'c 


:±; ■: 
















CP U 


Times Monday June ' 12 1978 


:.i *• s'a'i.'c 

■tz j-.j-.v. - . •; • 









g battle 



EEC textiles 


addressinghis ised lines and on innovation so MFA than did the EEC. and has It is a message which Ihe a/attonahsed «™cturo within t J^n^avanaWe^aM r»!rt fidentfy. AcUon by the industry 

European Commis- that markets isolated from cheap managed to hold down import industry will not be reluctant to \neuunt Daii»nnn» timetable ah the a cou ntries * in several European countries 

$otaer. ; for Ihdusti-y. Viscount competition can be found. pencSation to a levS accept, even Lhousb some eye- depends, however on how so A different threat to the pros- ovePrecem vearfto rationalise 

^^»P^t«taeta J dttsS V fte 7116 o0ier lhreat - however - Gema “ ** ^ ° f Viscounf Davlgnnn's suggestion pwred 10 put forward their raw material' trends could be pects of creating a coordinated h « ^ stopped by government 

-SSPSfers. The todSto tot comes from ***** countries Gl e ™ an ?- ^nT nScd bv Hon- Kon" own reshaping plans, and obtained. The objective would EEC industrial policy for M* intervention. 

told firmly that SedLrae and in P arIicular u - s - where , The U * S * tc ? ul f has I? P U iL n ? a if ves l thceonf^ indeed wheth-r agreement can not be to tie the sectors to tiles comes from Italy, where ThllSf while *he warning given 

Srbtection it producers have long had the also expressed its very strong reprMentative^ at tne tomcr reached between member specific targets or programmes the industry is a very substan- by viscount Davignon is cer- 

ever ^o 9y r advantage of operating on a opposition to reductions during ence— that the M fa 15 seen as 0 ^ of action, but merely to provide tial part of the economy and a , al0 i y being heeded there are 

^ ATT . continental scale, serving a the present GATT Multi Uteral a fivi^ar measure onli- Tht . . . . . nill information on which businesses major overseas currency earner. a num ber of producers who 

tL ?ff e !! unitary market of more than Tariff Negotiations (the Tokyo industry u Europe,! The min pri .1. ..n thrm^hnui |d make thcir „wn decisions. Market forces might normally be believe his time «Hb will in- 

;.££ Spom of S' 200“ European producers R^nd) of the high tariff levels criticisms 0 s tom which ^ industry m ,h «o Gcrmans are cnTlcernedi l# dcal with many „f evitably ba , c t0 be emended. 

:SfSi3Kff JZJE2 **5?!* must seek to match these eco. which the U.S. operates against have been levelled at it ’ U § .ht P 1 f r'^ki nf th* however, that attempts of this the problems encountered within According to Sir Arthur Knight, 


BY RHYS DAVID, Textile Correspondent 


^ddressinghis ised lines and on innovation so MFA than did the EEC. and has It is a message which the a ration* 1 ^ J ™ ? 1 u ui n t n-St her* Tl 1 hea vail able data nut of Germanv into low-cost fidently. Action by t 
-European Commis- that markets isolated from cheap managed to hold down import industry will not be reluctant to \ tsenunt Dd\i,nnn» timetable all t a countries * in several European countries 

KgfJSf Viscount competition can be found. penIKfio? to a l!v3 accept, even thousb some eye- depends, however - on how so that J A different threat to the pros- overreSm veer Ho rationalise 

;^^^iop^t«taeL J dusS V fte ^ olher lhr8at ' however - - round ha,f ^ “ ** ^ 0f nri^red 10 pui forward their raw- material' trends could be pects of creating a coordinated has been stopped by government 


brings imports of most textile 


- j _ . . . — musi sees 10 maicn inese ecn- w * «*«i uic — . 

SL^?«22Sy“ 25Z b»™« of «tl« by minuinm* other developed countriei Mr point 


in son 10 outline prospects for the the European textile industry— under whose chairmanship 
[It individual sectors could invite as the Germans would indeed courraulds has made many of 
rt diripiswe on the part of the prefer — but this process has the moves towards the European 
rs Community — direct intervention been upset by continued Italian scale of operations which is 


FET t« maktno «« “ tney fail to do so it could vuicrs , 7 ^ . “ - under the oenelratiun over recent vears. LommuniqMiiiwi h«h»™u™ oeen upsci conunucu scaie 01 minun»a — 

S"°, - 52 ; f f be t hi Americans who will recently that the U.S. industry for tighter controls under the ftf aillied at sorting out problems, investment in sectors such as being ursed on the mdusij a 

lm^SSSSSf 1 * emer se as the most tmmpeti live envisaged a penod of very sub- MFA. - viscount Davign.»n has puiruvd The Germans have been reluc- fibres at a time when other pro- period nf ten years would be 

CQUntr,es suppliers of bulk yarns and slantial investment over the In some individual sector* ducers are closing down. more appmpnate. 

m- tne wa&e ot.ansii per cent » - *v.„ t 


uthint 
■^0 938 


m tne wake of an 80 per cent rZli- Z r » ■ 

increase in textile imports fa ^ ncs t0 Europe, 
between 197S and 1876, but the ° ne example or the right 
danger to -world trade from a a PP T ‘ oach Quoted at the London 
spread of protectionism is recoe- inference was the recent npen- 
itised. As a result the five-year ™S in Lancashire by Carringtun 
period of llm MFA ’s existence a f6m sP lnnin S mi1 * 

must.be used by the textile whic * 1 - a , h r ® e f°ld 

industry to put its house in '“Pavement in .output per 

empluyee compared with two 
- V older mills which are being shut 

- Structure However, American groups 


6 If EEC producers fail to match these economies of scale it could 
be the Americans who will emerge as the most competitive 
suppliers of bulk yarns and fabrics to Europe’ 


Structure 


I'ltflti I am In 


iza 

222428 

d 


T 620 72J* 


7 7116 ™®asures which the in- already have their eyes on van* 
dustry js supposed to adopt in ous parts of the European Il-ki* 
the light of this bloni warning ij es market and will seek to ex- 
were sketched only in hutllnc by pioit it through direct exports 
Viscount Davignnn who was or fr om new plants in Europe, 
speaking at an international Burlington, the biggest textile 
^conference * on textiles in group in the world, has recently 
London. The authorities .in completed a major expansion to 


* “ There is evidence, too. that 

. - . it T n I'PCtmonf the British Government believes 

Lie it could lll> cSlITlCni ^ or ability now pro- 

Finally there arc also areas vided by the MFA will need to 

where the industry in Europe be extended beyond 19S2. A 
ptllll vt would like ro see further evi- statement which amounted 

deuce of 1 he Commission's good almost to an assurance on this 
/ intention^ bet r -r,- going ahead point was given, by a senior 

with the investment and Civil Servant at the London 
modernisation which is being conference. “ I venture to pre- 
urged on it a.s part of the diet that in five years' time we 
acrec even in the use restructuring process. Doubt* shall see another negotiation 
lendem consultants to have arisen -»ver the Commis- which may well modify the 
analv«es of the mdi- sion’s williiifnc*# to enforce present arrangements but l do 
M M-i,ir» A* a result, rigorously the agreeint-nts nor believe it will result m 
the industry ithrough reached with low cost suppliers, abrupt changes in the present 
lo.tiAn I’nnil tnVl ill has fiillnwino a recent decision •‘n situatiou." he said. 


T 423 tei. ■ L * onaon - autnonues .in completed a major expansion lo PUrtllAwnn 

‘- : ? rUssela clearly anxious. lls already sizeable Irish plant ^lldUCIIge 


3it 

l-ACTS 


however, ,: that- -Ihe industry designed to supply woven fabric . viscount uavi^iiun 1 uiui. e » .. - 

should by the 1980s hove gannents nulfcm throughout The challeose thrown out by played a key role '■> helP'o. to 
ok.iinnaH i ice if a -tmnh.u m ■ »i. A in ..... vivcntiTii Davisnon. therefore, is draw up the compromise 


bringing capacity hack in line 1 ^" 

with likely demand by 1982. with.cCon»nm a-fcl; -U. 

Viscount Davignon himself has 

played a key role in helping to ACHOR 


Message 


an industrial on! icy for tex- mission's rraJiness to activate The message which neverthe- 
uies. ii is thought lu have been automancaiiy ihe provisions in j eiiS comes through from Vis- 


equipped itself with a structure Europe. Much of ' the large Viscount Davignon. therefore, is draw up lh * ^ompr s 
which, will enable It to. come European jeans market u “?c the breathing , space Pr^ whereby he Italians whose 


-enously weakened in its impact the MFA bilateral s for bringing coun t Davignon’s remarks is 
by the "need m secure a com- products uri'icT contrnl when lbat the industry must get 


lational La 


wmen wui enarne u to come European leans m a reel is «» u*c me uimuhus ***- . ■ . . -, DV . 

Wthe permahem casualty list already supplied by major U.S. vided by the MFA or face the plans for further majur mve t- however 

ahd _■ face two main problems ernnns using denim corduroy consequences. In effect the Coin- ment represented t act i s » 

unaided* ? fS^ef ^abri^ iSde in missSn is saying that it has problem, will I nte ^ity i- difference 


?r -.at lor.il U 
B=nl: L;i 
- : v> et 


Lid. 


T* irves- 
Hi • 
L’i. Inc. 
rr.,.t: .-.i', ]*: 
.•rriJinriel U 


.SlML f™d UPS other £ tSE? ruiie in I. Vh.i i. has probion,. wUI ro duoo ..pocitylo difference o, approach . 

The first of these is likely tn Amercan mills.' come off the fence— partly Vi'iHbe 1 allowed member countries The 

bt-the continuing pressure of The UA has also made clear r“ u J betteen^lSTS ai?d eventually b to increase their industry for example is beli 

low -dost imports from the that it is determined*) remain t w an tsa sha?eofthe European market, to be pressing it, Euro 

developing countries, ts new a major textile producer and ^ The initiative in fibres has cuunterparis tu sr-ek enrr 

suppliers join those already will not be ceding substantial ' f ra m e work for stimulated similar moves in sum assistance for ana; 

exporting. to western countries, parts of its domestic market to has created sumulated^si^ ^ whW| , t 5>> inl ,. n ried 

The .industry' in the EEC. low-cost imports or to | other de- ims in t * musHtake also plagued with over-capacity, individual sectors, such as 

Viscount Davignon made dear, veloped country suppliers The ahead The n ry si ai p European wear, carpets, or cotton tes 

wfll -ne 6 d to counter this by US. made much more effective W » ' f™** ltS ° Wn indust rv as a whole to achieve should underrake, 

concentrating rm more special- use of the first round of the longer-term survival. maustry — 


eep what different position in which and in the longer term over the ^ e British and French. Both 
th p Uerman textile industn- impact of welding producers or countries know that agreement 

*• *. nviUMnom.ifif fhn fiUnmiinitV l »La mkwiKaf Ctitec tn 


CreriiU 


impo?”^r U to OLher d^ mis in the immediate period another sector . ttehja . which i is ^ krhb of as importance to their difficult fo’r’the industry to lake development of a cohere 

” IHHioEHS: 2X±£r - imiles sasa ■a ^ s a 

i tn tiip FHitnr Today’s Events £?*&.'*** B 

8 Pliers 10 me JCAlIlUr Ir-nimi Bankers onens in Basle. J ...... . - OFFICIAL STATISTICS 


r _, _ _ _ , . House of Lords: Scotland Bill, 

moptlns or European 1 OtiaV S EVdltS report » t age. 

Central Bankers opens in Basle. . ■/ „ .. , . . Pcm , r . c OFFICIAL STATISTICS 

One-day unofficial strike by uranium exports expected. Mona Ibrahim kameu L^rprs Wholesale price index (May— 

British Lcyland looimakers seek- Siaiement expecicd from MAN. Foreign Minister, expected to provisional). Retail sales (May- 
ing new negotiating rights to marine eneine builder of west visit Zaire .. provisional). 

innmph ihi»!i- >!tai<N and riif- Germanv. on setting un lolnt- Mr. Andrew Peacock, A us Ira- 


N V 

-'■-L-i' 


OFFICIAL STATISTICS 
Wholesale price index (May— 


engineers 

Front Mr, ff. F. Gaines 
' Sir,— As an industrial 
4B^d%ger i can only agra 


. . ... mv wav one summer a number British Lcyland looimakers seek- Statement expected from MAN. Foreign Minister, expected 10 provisional). Retail sales (May— 

- rrt tolerable burden of financing all management, coupled with pro- my y family in us ing new negotiating rights to marine eneine builder of Viest vwt Zaire . . _ provisional). 

. Training for .. m »«■ S^er»nVS«hTo ll i y mpro« *'««» » -« «£ JSSSSBJSS, ‘MS SS!SS fi ci n P .5 ,, Bi h ,, S.Jil5i ii.n r Mi»or p FlX & omn nin 

eneifieers ' °i ^nsSSTSSt ** %$S MMlin Bir — , Primc *««««"-« & r F :r s „» ? K S (fuU 

CllglUCClh ■ . more of th.- local fam mes than It ^ “gn* ™ time we had SO!D eone come in to look \° USIrn!iy m rail s ,,iih National and Local . Govern- Sir Cohn Woods. Cfiitof MEETINGS 

From Mr. H. F. Gaine s • «re penunous householding pen- highest fi™ njducrtvlty move- after our animals, and Un- Marear ei Thatcher fnn.vr- mem oifiwrs Aswormtinn enn- tor of Corurtabulao. opens ^ames CO!W.^\ ^ETWGs 

' Sir,— As an industrial training sioners. are con In buUtm nothin g was ai its remainder of the quarter could vative Uader . before leaving UK fe-enen opens. Conference Cemre. \’Mey Police tra^nc block. Sul- See Weeks F nancial D ary on 

SE W& =3S%| g*#as®s ^ . „„ 

sily-XJUBe 8) when he criticises which would give everjwne a £' ■ fnT erM ter investment. It many, many years! and. in ^Pi |<0 'l* , [- c, . r" reel London' PP ~ New Zealand tour team arrives 

W. University Grants Comm in ee chance to pay his fatr^hare. been for great, r^n ^ Cosmjn oF what we told the Board, they un.il June ■ I . siraJmu^. ‘ ‘xtSlemem by Commission fbr PARLIAMENTARY BUSINESS in .London. Boxing: European 

and the' DES for apparently both locally m& f a J; na *Jj h as n ovr redressed the balance insisted the amount was correci. b ' eCM1 ,- nvn . d;iv RaC ia] Equality on (heir guide- House of Ccunmowr Debate on Jun»r Championships R^lm. 

iasisting that -only vnew^conrees- Before anyone Dv sbowme that the bulk of our and to top all this, when e , pr.-*Meni r.anrr in lines to employers and local Expendimre Comm^tee report on Jim \Vatt v Johnny Owen, 

would^ouaUfy for. the -four-year this would be/ too comp heated _p> snowine d tQ hgVe lbB meter checked — r ,„ihnri»io-. n—^n.i.-o Medicine. National Sporting Club. 


delfee^grants.':' 7 ^ ’ SSeiJmee. 'provided we grasp stallation and removal eost **' 
■raw' Se7pportunity by using them, the said test meter waa C Tbe> 


over^ana:. over again vn». ana. wasn.B*u* i-- ----- the opportunity 

country^ ''education : establwh- revenue is collected, under the PP 
meat ignore established, courses present rating system. And If . „ , r 


a ta promote i-raw idcm.’.au» some wwuv .^<*"••■ 7 *. 

ilVCtn &gineer:wHl tell yo.ir ^that this tiveiy points ouL-Hoca revenue 
liiJtlK means . a- long' period of develop- distributed by Central Govern- 


SSSFLSS? ZZStior 

tiveiy points out/local revenue Jtfiddlesex- , 


§ 

ers 


Uicaio pviivu r- uuHliwvivv. C J . 

ment to bring a fresh concept to me n( might cu.^ the powers ana . nwov 

the : point at tyhich-.k -is equal in spending propensities of regtonar._s <*j 9 


UiQ.uuuu Ok *T ^ r " ... .t:, \ c ” 

performance to old;- let-alone councils ! would say inis is a _ 

surpass IL In the contest des- consummation devoutly to De . . . llttlC H13D 


cribed the sufferers, when inevit- vvished. , ; 

able failures occur, are Jbe very BernardCampion. 

students they are trying to help. 34 , Tr eveneague Gardens, 
• Of xourse= l am not advocatine jianodon. Plwmouth. 

a' “no change/ policy, across the 

board, just. a. reasonable degTee . . 

of selection. "before the country T.inCT|llSUC 
spends my hard earned taxes on UIU^uuuv 
daft ideas. Itis only daft because Aill lfA L. c 

the equivalent already exists and CrUlCuCS 

has been found tn. be -workable w .. n „ 




ESffSSr " insisted the bill . was right and 

I, Cecil Court. Enfield, so we were lei in for an jddi- 

'MiddiesexL '••> uonal £4. 

M ■ ■■ • Recently there was a case or 

. a man who was sure that bis 

■i .{11 QW3V meter was running fast, ann 

9 pjghr times the Electricity Board 

1 «, tested the meter and said it wa* 

<• little man running in tune Well, after the 

eighth go at this the man w.i- 
From Mr A. W. Furze beginning U» Feel- not im- 

Sir r — ' Your fascinating article natU ra]ly. a little peeved, and 
Whitehall v. MPs (June 5) sjoce be was an electnc.il 
Tecalls the most instructive engineer himself, he took the 
experience of negotiating with. , n eter to pieces and round that it 
the -Treasury for funds lo set up was running fast and had been 
an. apprentice training school in doing so. as. far as he could work 
the late 19fi0s. Govcrnraem out f or e j g ht years. Ai this, 

'brochures were available which Board admitted they nari 
-staled quite clearly Lhat funds for ^een wrong and paid him enm- 
.the pilrchase of machinery were p en sation for the last six years 


There 9 s only one way to take Glenfiddichl 


Seriously 


aa» ucw iuuuu >». _ • _ »T^-j n^irnr -Staieu quue uicmi u ueuu wiuhk i*"*” - 

and- sound.. Moreover, with some From-Mr. Duncan petit u w ^ Urcbase of niachinery were penS ation for the last six years 
20 years of -development behind Sir.— -U appears tnai /"“ available on a 10-year loan basis — - they were not permitted u» 


-u years ui — ... -- ----- have avauame on a iwjsai — — - tney weie nvi jr t . ... 

it l meao of edurse the four-year commas and r " I ™ , £P" 1 , h "ve end for buildings on a 15-year pav compensation for a longer 

sandwich course, ^ most J d,ss j > ^ a 1 ^i l L„ Stations' loan basis, repayment bemg pe r iod tha n this." 

ii tiu arpupthat Ihe best rfmnned Out Of the conversaaons ......n,, *n mntuntv Tu, n.oinr ic KTill mnuntpri 


courses, V »nd course uie D een mere iur wv 

bilife .of tax-free °®^2Sti8tp ^ uM . ,,ste P t0 J itS whom ment- appeared and— forewarned wil] be in r e resting 
mearts- tested gran te of a.i sensible ^0 interviews of people wnonj; was read wllh great care; 10 , n „ ro know the 


, if not pleas- 
result of this 




You can take ir straigiir. 

Or with a little, plain warer. 
but do remember chat you're 
casting no ordinary Scotch. 

Glenf iddich is a pure, single malt. 
I Distilled in the ancient way. in 
traditional handbeaten copper stills. 
The result is, perhaps the finest 
whisky the Highlands have to offer. 
Tike ir slowly, lake ir seriously. 
'Glatfiddkh ’ in Gaelic menus. 

'Uillcy of the Deer.’ 


44, Portland Road. 


Which are the 
real skills? 


1 i - ' ™ WiuM now. ijto “' Ho „;bou«^ reform niov. ment 7 **■ P» rtluM Kom. 

1C— ■ thf 8 - sandwich courses under t0 clean up the csrel»s_ u*^ of draft was Stoneygate, Leicester. 

■ Ihdse ijlrcumstances.^. -.^rudi conversational ■■crutcne&. ijeturoed in due course with the 

“-The one. problem t 15: taesei®^ Duncan Neil Dewar. offending phrase reinstated and itTL* L flin 

- — ^ tion of.the-gwnp of uDi vers ities^ Femwood Avenue. SW 16. the unfortunate official explained WlUCD 3FG tllG 

or^l^e^mw Cp-lWi»J®n that the phrase was essential and _ . 

advantage., JKay . T suogest in . ■(; . f nr that * it would not, of course, be j.pa| Qb-|llc9 

smse&SSB - No ^ y 1 ?*ssa- SSL. 

W?* - shipping SS£*Ji K *SS1™— f 

if ^Te^eMr.^lKallrm-was asked wSetter pS' trS 

?- . 17. ^ l Lancbln, Under Secre- he’ would accept funda on a aMnaomng circumspce- 

Harpenden; : ; . agUy division. Umr tion^Geoffrey Owen notes “as 

-•uv*' ■ • '? / ■^TJowrinir- of Trade, wm a _ ?jy e ’ m ^^. 1 52f y ?Q t i more business decisions drift 

CnlirimP fill ■'zedorled as saying that the: claqse;_ No. of course . lowards wbitehaJl or Washing- 

- .vo ^ ^ ; ? ffi. W -n jgys ussaj °sn 

;; , P? * the rateg . ^.SSySsS’.^SS ^ 

■ v ' ' ^ *8 there IS a policy «JS» “ eveI *** engineer . - one cannot help 




:.V,0 


: , :;u.vo 


S. Coker’s . warning _ HV thpre i s a policy it “B" " v * m-~— — 

Watei: Authority Addle ^ a J e feen worklna too to me again. 

I thlnk-tnost .tatepayere tinm^ ^f - British shipping having a. W. Furze. . 
diately xealtsed. . f j n j US t over a decade from fJeriiu^ Mold. CUoyd. 

electricity 

r . 

time of its existence the.. Water . . ■ lo the varying amounts c 

^IX^f^^^vnroditctiyity.. 

«,attprirf*tline before more .=r ... r - - • - j beoole who have elec tin 


wondering what happens to the 
old-fashioned skills of marketing 
and selling things, if the ehief 
executives of the fujure are men 
who know little about the busi- 
ness they are in but are experts 
in .the corridors ’ of power and 
good performers on television.” 

This is not of course a new 
development of operational 


10 y iTiChestfiiaAiww. From Mr 4 T umb development or opera* ona. 

commitments, wofciBSham. Berfef. . 22 . ' ’ ' ' riraw attention management. It can be analysed 

increesed.and ^reemg^e^notr ^ nfmone^ within the standard theory of the 

time of its existence- the, Wer ; io the varying amounts °f “° n ey fi extra-market power— ihat 

ffiiority’s tiaraes r baye^one . Inprp4c£c ]fl . . .. Raised to different P»P>« g i S ™the search for security or 
vplo rajiiiraai the \ JBc/llectriqty Board dunns *he io ' o[ uncerta | nl y „y 

will sooti TirAillfl'tlVltV -’last. quarter. means other than competitive 

. We also.realfeeii. JlOuUUuHj .. My biU came and effecl , venGSS The last chapter of 

ba a matter "Of*t&a 6 before '-p^Lt'ihe Director and General people who have electnc ceniral forthcoming book on Entre- 

^.tingr- have, received to a > fieurial Mana5em eni makes 
the charges for ; vanousjitner study, ,-fhr lower value. I realise that £ attempL 

local mnenitiee-^nth _the mon- Methods. the obvious answer to ritai is ^j^jgepnee 0 f Lombard’s 

tainous lncrease in ^^T^^uth^Cosmin makes a J^t Ave^ have been boihng elec- observations a { believe, of 

tive costs ^ which, vL '. va lua ble cootribation to the ais- pe^KtlH or using 3 kW, fan^. ial re , evan oe to man age my m 

abWentaiL Mr. Co^. mprt he J«MWe cog » totois «i^nly not tte cgft stod|es programmfis . The key; 




-Mono {^mpaigpere c n' hing' ins n p hour at a time in the Ralph Horwitz. 

plain- that -we. are. not s«kl 8- n about ’ one-rhl rd of half, an , h u at a.ti n Vis f tina Wtow m Busii 


variety Of :f a rttirins industry; was irtAdM^anv-' central heati 


one-bar 
We do 


London'- Regional Management 

' l ■ new investment shqws^tn Al? interestl - Dg experience, but Cenirc. 

-HjaS^ySw .'■■■ came 3il. Repent Mre*. 







** . 






Financial W* 


Wmmm 


Foster Bros, off to flying start 

WITH CONFIDENCE. Mr. Herbi-ri _ 11 

G. High, the chairman of Foster BOARD MEETINGS 
Brother?* multiple retailing croup, 

tePs shareholders, after making to* ‘..u- .• . < : companies have noiifir-i Ernrtrt“rina Invenm^nt.'. ’a>-? Err-w icn 
due a’llrm-anre for all the cconn- d J,£ - [ i : " r 7 . mecnrss r» the Sim* Sorins 

“H® fu* Ksrlia-I-I. ' Ilc h mrctiNK arc u-u.il!r FUTURE DATES 

iuic uncertainties. Thai prospects fi^ij i- r i‘\ purple of coiiMderm* Interim* — 

have never been better dhrisr.2 • I'fheuU Indication* are m>i Fqiwicf Tru -t -MiS'S* 

“ We have "Ot off to a flving nvoi1.it>:’ aivldtnd* cmccrn-rt Slcnh>iu«* Jul:- :n 

the absence of unforeseen nr „„ .j,. • pjr • timetable. 3r«wn *John> .... tuv . • 

cumstancps. he forecasts that the Today Dominion tnveMinrn: i>n.o t> 

Increase in the group’s trading Final*— v-"' Industrie*. Associated Paier-ui >iti ... . .tunc l i 

amfit fnr hho IQ7S-79 vear ••will Brnrh 1 •• •pH* SamueL Ocean Wil-PcttMw .lime i« 

P*™/ wf Fit. * Zl '£1 i, < 1«.. ' cv, r v °nr -.nd RCTer-i~.ar7Siw.tt and Mama '»»>;" 

be the highest ever In the history | rtV e»:»n.v. 'aim-, w.o t.. Warwick wtntccron Jm. 


start,” he says and adds that in 
the absence of unforeseen cir- 
cumstances. he forecasts that the 
Increase in the group's trading 


jrc ini' n.n 
divri-n . ' 

on Sal t ' va* 


I'arvicK Whltecrofi 


anc® Company fi 7 per 
Meeting. Three Qua,;. EC. 
38 »i 2.30 pm. 


WCB up 
to £0.87iu 
midway 


of your business.” ■m irlwnaT 

As reported on May 17 Foster ■ ' ' llll La W V 

came back from an interim short- •/ 

fall with second half pre-tax The company is now in the Europe while the overall propor- WITH SALES ahead rsfllm 

profits nf £3.95m against £2.45m to hands of a receiver but arrange- tlon invested through offshore against IS 05m nre-fav n-o^tc of 

finish the February - 2S. 1978 year ment* have been made for funds has further reduced from White Child and Benn «iib<i- 

ahead from £4.1m to a record another o-mpany to meet Bel- 13.8 per cent to 12 per cent diarv or Arthur Guinness ion and 

£.TS7m. Sales were up from gravia'* nbiigatjons under the 0 . h _ nast vear profits from r - n -' ■<*«» need by noi.'nfto m 

£44. tm tn £50f»m. including VAT. existing insurance contract. mer tiie past year, proiiu irom - 

with a 23 per cent ad vane* in the 


second half. The dividend is 
stened up to 2.85flfl25p f2.57fi2o). 

On August 31. Jflii. the grnnn 
acquired Discount for Beau tv, 
a prirately-nvned company trad- 
ing in toiletries and cosmetic*. 
This ennrem has some 18 shops, 
and seven further units have 
since been added. Mr. High sa vs 
that the croup is well pleased 
with the return on its investment. 


Upsurge 
for Anglo 
Indonesian 


investment sales have almost ■UWS-i.fino for the half-:- ear ;n 
eliminated the allowable losses nf 'VjT 1 , ■ l?' 4 *, 

£495.000 with which the company r| rtlcr nooks were strong si the 
began the year. At the year end. rnr J March w ith the ■•■■.hir of 
capital losses offsettablc for tax undelivered orders e\ reeding 
purposes acainst future realised — ' ' Sr H nn d since then they h.f<? 
gains amounted lo £7K.onrt. continued to improve. .«■ vc* Mr. 
Although tlio 25 per cent sur- ,_l - Beney. the chairman, 

render rule no longer applies in reports that the group's 

ihe disposal oF premium cur- fuecessful companies are r.vsrinu- 
rency. the directors have con- ) n ” fn 2mw. while the evoen*es 
tmued a policy of investing part incurred by BXJ and E^rrusions 
of ihe portfolio through bhek-to- ar 2_ reduced. Therefore, 

back loans to obtain some protec- is expected to be a 

lion against shar.j fluctuations tn ihormighry satisfactory yeir For 
st the value of the dollar prenlium. 2' _ *’ ne P r "Tious year, a record 
X- niii-mor the vear. these dollar hnr. £t..v_m pre-tax nrotir was 



Coates iffoniw. 
vat four months 

" Sfr- Richard MftyJes. 

-sf' Coates Brothers sa £* a d (jctails.wlU 

AGM that far SSer^statemgt;^ 

months t radio? ^ ,, j? r ; 5 ; on s of in pCWb®'. - H ijpw 




months irauiue divisions of in 
and profit for ajj ^ were contmue 
domestic trading . , _. ear _ resume 


domestic traaine . .-c, c-ear. resume •»=■ 

.raftSr TS&zrjs* 

-SS. 1 ® "IKJ-iv 

**y ■«« J?*! JSBL of Aliebooe' and Sw^SaSl^ 


they were now SJ“5jL of Allebooe and Sw^lafl^lt: 

from the ^ al 11 *“ 'about 12 AGM that, 

.. Overseas turnover w ao^ and quarter of.. the reac;.A«3y 

per cent. » hea f d ^Lnetitivc pres- of budget and t fat 
as a result of coraP^* bao ^^t of botK 


Sir Kenneth Keith, chairman of Hill Samuel Group, which is 
due to announce full-year results today. 


» a — - 1-ss hnoyant m wm ^. wBr . ywin nm - 

sures, profits w .®^ _ ear ing divisions was 

although up on last ; . .. 

ft Shared® 

ta - :-T*ja^asm& 


stability. , been added' to the 

-at the AGM of Maple and Co. serrter ajw 


At the AGM of Maple ana v«- tioa Servi^ api*e3rtw 

sbswed*^ corresponding inCTease. ' xyi^stDE>fes®^i 
He expected to Sterim The prospectus-: -Is-i^iftrhggg: 

ssrs .'or fl ve 

fhit fitting out the new redeemable s to& ' 

^ To h «enhan. g _Co K rt Boad 


The group's plans provide for luumicMau back loans to obtain some protec- m77-7S is expected M be a - 1 

Adam for linn against shar.j fluctuation’, m thomurtily satisfactory ycir For 1 £) 

n£™n. Ch d r Zrtr in /he INCLO'rCG £4a5.-Hin against th e value of the dollar prentium. " ■}. previous year, a record KQnl7 Xj- f ATkllTlAI'Alfkl 
?ureeS? yea? A^SSit -a "i'l bl f! 0 ™, a " *?*• D,, nnu the year, these dollar bor- pre-tax profit was DdlliV OC \^UiIllflCE Vl31 

«nlri'i«rr Vwc P»ciai-"ManV ab,e P rnfil AiiBlo-Indonesian rowings were renegotiated on a aenie\cd. ^'***-* 

opemn_ under the Fosler Mens- Corpora ,inn jumped from £694.700 six-month I v roll-over basis. Containers and plastic-- again 

wear banner, he adds. toXlili.i'li for JS77. * made rhe m^ior contrin.-ion to B ftp T| 

Mr. High savs the croup Afier tax of £578.295 ill 73.7321 However, with the emergence of first-hair results and Chr»* im- VT 117 All O iITIaH 

ncorously tackled the problem Oi d min ,jrities £103557 ilfi.BOli. a negative interest rate spread un proved substantially. F.’.T al^o 1ft VA T UL T II If fl ■ M 1 1 t^l ■ 
unprofitable shops and quite a , llr jh u ; a bk' profit was little dollar borrowings, arrangements made steady progress. Throughout •/ M. 

number were closed during the p hnn20< j at £330.330 f£5n.367i. were made in September to the group, expenses nor® well J J . ' • 

W _i nc * u d in ? Stone-dn and the stated earnings arc l2.8.7p deposit a high yielding sherl- contained and current a«*r-; were ACCOUNTS of Bank and and Sons has now been settled; 

wear operation. H2.39i>» per 25p share and the dated gilt-edged slock in lieu of held below budget leve :< . Mr. CommerciaJ Holdings for the 19 although not on such favourable 

The group continues to be dividend i> lifted from 2.3p to a sterling cash deposit in order Bcnev states. months to October 31, 19i> are terms as Mr. MarteH hoped- was 

expansionist minded, the chair- nc; costing £125.805 to maintain the interest rate dif- The half-year result vs- --‘.ruck heavily quaJiDed by the auditors possible. The matter is' sab- JuBce. 


Bank & Commercial 
heavily qualified 


uear operation. ti2 39i>» prr 25p~ share and the dated gilt-edeed slock in lieu of held below 

The group corninues to be d j vidPnd ,. jjf re d from 2 3n to a sterling cash deposit in order Bcnpv <iates. 

expansionist minded, the chair- 2 --_ no; _ costin™ £125.805 to maintain the interest rate dif- The hair-ye 

man clarnc itiH it hat mnro than *■' I ..... ’"“'“‘n . ... . _ , .. r _ c. . . 


expansionist minded, ihe chair- 2 7nn" net. costing £125.805 to maintain the interest rate dif- The hair-year result vr.- -•‘.ruck heavily qualified by the auditors possible. The matter is' sab- jndk?, 
man states, and rt has more than ,£ 103 215 i. " ferential in the company's favour, after bank and other irv?re«j MacIntyre Hudson who say they says the chairman, but a claim is 

adequate funds, both in hand and Thc amount oF the 1077 dividend At the moment ii. is considered amounting to £111.000 i iioC.nOO*. are unable to form an opinion as ahio being made against the oom- 

on call, for any suitable onpor- j ncIuc j ee provision for the Tull appropriate to retain this bolding Tax takes £450.000 (£39R.iV".‘ le^v. to whether a true and fair view of party's former Tice-chairman. - 

tumties which may present ihem- ar . (?eptan ,- f . 0 f the cnmpanj'i offer of Government stock as demvdt in? net profit of -^13.000 :hs company’s stale of affairs is As reported on May R. a 

s t »f.-o T 7 .. . for Walker Sons and Co. tl'Ki. o?3inst tiie •'back-to-back’' loan. (£307.0001. -nen. revenue deficit of £190,000 was 

t>n June 1. lb.8. staff Facilu.e- Full acceptance of the Total “back-to-back borrowing* The net interim di-idend i* on incured for the lfl months tn 

anri UP nA3nm Urr rn 3 nrin n<: : eamings will be U.31»p. increa«cd by p-SSini to LkR.iim stepped up from I.8p »n 2r> per 25p fi v I nointf Thf- alS'e -- whi~h Sie October 31, 1977, compared^ US 

Sh ■! InafinZ ^„u d n nln Comp^ire figure? have been and representing 40.2 per cent cf share, coxtimr £I48.42fi .£J33.5331 i nm P :m Iit in "and a loss oI ^38^000 forAepre- 

Hich is confident the group can r SI; niainly to reflect an total assets, remain more tnan —last year's final was 2.6p. , L rSriS,- vious 12. months. 

look ror an mcrea«:na conmbu- , -he *»r nun's share of in P«r cent covered by invest- fcdmonton Land Company nn rt - orrhe enmnarm i»ni I 

tion from this acquisition in Ihe . of m-ni* in foreign currency UquidHUonl ;* earned is based ha •„ °£ r 1 

future. ? n • pr0 !i? i ^;.iriri e s - currency riVAVr r on inforraation at March 31. 1977 £ . h f e, £ m ? e Great. Northern i 


store m c ^P”|X and it should The issue, 

!?* mdSe on September 11. cent, is payable asvttf ^^ : 
The boS intend s to pay the on appbcation aext Wedncah^^ 

• , ' ■ • ' 

7 Yi;s adcertis&netit is tssued in coinpUaricFiudk&& 
r'mnrouoiK o/H'c ComrUoflhc Sin* %. 
constitute an invitation to anypcrson tosaosm&ynw^f^ *>.- 
purchase any Debenture Stock , : ./> 

Fairview Estates Limited:.:'} | 

(Registered in En^and No. 1009194)' 1 " - w : 

RIGHTS ISSUE OF £13.85 PERC»Cf E 
first MORTGAGE DEBEMTURE. vf 
STOCK 200012003 ATPAR ^ '?] 

[ The Council of the Stock Exchange has admitted the abcH^j- f- < 

Debenture Stock to the Official List. . . . ; V •; j. 


tion from this acquisition in the 
future. 

Mecu'n?. Solihull, July 5 at 

noon. 


an aisyci.'iif'* profit as ;i rc-ul; of m?ni f . ,n 

? change in that ■•nmpany's securities. 


Restriction 

on Belgravia Shift of 

The Secretary or State for eilipliaSiS 
■ade ha* exercised his power r 

ider Section 2fi of the Insurance p . ] Tr_ 

Jmpanles Act 1B74 to require 1^X10^1131 1 lUSl 


method accounting for These- borrowings were auemen- 

deferred t?x. tod in November by the negotia- 

tion of a straight borrmvn*? 


MANSON FINANCE Hotels, on June 28 « il^T 

~hv V r^ Z'-TT. FORMATION which the directors have made 

Tion o'r a straight borrown',? Manson Finance Tn:<r has thes/^dtu^lmen- th* 

facility or USS4m in order fnr Formed a new subsidiary com- ™ 3 h 1 h “** 

the company lo be in a position P»n>' railed Manson Factors Staie - S'^ t0 ‘ s , ha ’! 

to introduce gearing should the "' h, c h vnll offer factoring ser- not had access to all the relevam 
management consider i; appro- vices to industry. I: will aim in records and information, 
nriate. So far. no drawings have partimilar to assist the *maHer Properties held by investment 


Particulars relating to the Debenture Stock are araSaWem^ly 
the Statistical Service of Extel Statistical Services Lnroted 


Rise in 
subscribers 
to PPP 


- h g-Pg c !yl- h . l ;-P”y ihe rum! now accounts for 20.1; vejue, end -he neV rea'lisabie in rcTOrt - 

rnmnaniee ^ihT i /— i n '^i^, 3 nc ^ FvtpniQl Tmct 1 1.3 per cent against . 18-^P and SHARE STAKES vaiue of ihe group'; properties Private Patients Plan, the second 

Bclcra/fa ^ Omlcal’ 1 Comoanv To 1 TU Si 11- per cent rcspective.y this .A.ssam Trading (Huldingsl: held by dealing and development largest medical insurance agemy 

Safr^kin-nn new nn Diirin- ih" vear ended March 5 Trustees of .1. M. Girthne'h ]pfi5 subsidiaries the directors have in the UK. Mr. J. F. Phil®*, hi 

or after lune 8 iqT« The re- 31 *1478 External Investment As reported net revenue a mown- seiflemeni — ,1. A. Driver and C. E. made certain assumptions. The his chairman’s statement, reports 
quirement °alsn p/ohibiu the TresT reduced .S propn^ ted tn £2fi2.171 ,£2«7.n72> in 1977- £««»■?«"* 2 bought a further *«Ncor> say they have been 21.000 new subscribers, ££§ 

variation of existing insurance the portfolio minted in North •« and Mmin»« per share were 2.0H0 B shares. J. M. Guthrie unable to verify these assump- coming through company medica] 

contracts America from 45 K per c<»ni to -*- R lP t4.iP» or 4.. op >4.S3n» is a director tions but have no reason to doubt schemes. But this was largely off- 

The principal businesc c f Bel- 39.8 per rent while that in the assuming full inversion of the ACCrw ~ rAXn . T l .. ^et by individual subscribers 

grana Optical is ihe mannfanure UK has been increased from 24.5 ' 0iin ^^c 1 * AaaUlv. 1 A I fc Llt AL They point out that no provision “™PP ,n 2 oat marnly as a result 

cf contact lenses but the company per cent to 34.9 per ccn:. At May 17 funds managed by Schaverien and Co. on June 7 has u- n made cor Poratien °J.h ieavy econmnic pressure. Over- 

also operates an insurance scheme At the spme time there have M and G Investment Management purchased for an associat* in 000 tax “j 11 ™, raa F.be payable in number °f members rose 

in respect of the loss or damage been small reductions in the per- held 72.68 per cent of the ordinary Monlova Investments at average ™ s P eCl of previous years and to 206,032. Mr. 

of its lenses. centace invested in Japan and shares and Standard Life As«-jr- price of B5.6o draw attention to the fact that p h^hps says that in the early 

1 no provision has been made for months of this year enrolment 

any liability which may arise inquiries from individuals were 
under guarantees to bankers of running at record levels, 
subsidiaries. Subscription income during the 

Acquisitions hare been recorded r °se by 36 per cent to a 
on the basis of the nominal value record £19.9ni and Investment 
of Bank and Commercial shares m^me by 39 per cent to £LJm. 
issued as purchase consideration. w ‘n , Ie a further £lm was added for 
In the auditors' opinion, the S 8 * 11 on realisation of investments 
acquisitions should have been and investment depredation pro- 
recorded on the basis of the vision no longer required The 
market value of the shares issued amount paid on benefits, also at 
at the date of acquisition. The a record level, climbed 47 per cent 
ffect of this procedure would I? £16Jm — SI per cent of subscrip- 
have been to increase share t:,,n income. PPP made two pay- 
premium by £3.358.306 and the ments under covenants last year- 
accumulated revenue deficit by «>irf,000 to Nuffield Nursing Homes 
£3.35S^fiS. Trust and £65,000 to Eynsham 

In his statement with the Trust Overall, there was an 
account; Mr. E. Kenneth Martell, excess on income over expenditure 
chairman, who will retire in June, of £2.9m compared with £2.im in 
says that the immediate future 1078. 

depends a great deal on the Mr. Phillips refers to the two 
successful conclusion of the new schemes launched recently, 
arrangements about the com- The Premier Health Plan was 
nany’s interest in Calgary and launched fn June 1077 to provide 
Edmonton. At the same rime dis- realistic benefit levels which would 
erosions are taking olace with rise automatically in line with 
regard to the futu*^ business of hospital costs at the lowest sub- 
tile company now that dpbts have scription rates economically 
been substantially cleared. possible. The Company 'Master 

He adds that he hopes the re- Plan was also redesigned to meet 
rnnstitnted board will now be able the requirements of employers 
to make real progress, oarticu- providing cover for private 
larly with the opportunity of medical treatment 
turning the Calgary assets to ■ — — — “ — 


During the year ended March 


been made against tiro new and medium-size company, with subsidiaries have been valued by A net rise in the total number 
facility. The premium content of <5a,es of U P 10 per annum, th* directors. In calculating these of subscribers last year is reveal 

the fund now accounts For 20.1 p ctjadT CTAfCC va ! ues and th? nel realisable in the report and acwmnts of 

nr II..i per cent against 18.„p and MIAKt olAKtj vaiue of ihe group'; properties Private Patients Plan, the second 

V- 2 CPnt rcspective.y this Assam Trading (Huldingsl: held by dealing and development largest medical insurance agency 

time last year. Trustees of .1. M. Guthrie'- 1965 subsidiaries the directors have in the UK Mr. J. F. Phillips, ini 




: cf^ 



GREENE & CO. ,; \:u 

Finsbury House, 22 BiomfieJd Street, London EC2M 7A£__ y: ^ 
and The Stock Exchange . - : : ^ 


FINANCE FOR INDUSTRY TERM DEPOSITS, { 

Deposits of fl.000-f25.600 accepted for fixed terms . of $Mj,' -• 
years Interest paid gross, half-yearly. Rates. for depeadli-: ; 
received not later than 30.6.78. • . y ' - tV*'/* ’ ' 

Terms (years) 3 4 5 6 7 S. ft 

Interest % 10} 11 11} Hi Ilf 12 ' 12* 

Rates for larger amounts on request. Deposits to^ and fUititt^ 
in forma tion from The Chief Cashier, Finance for : Ind jfcfafe , 
Limited. 91 Waterloo Road, London SE1 8XP (01^928 7888 ,: 

Ext 177). Cheques payable to “Bank of England, a/c FFLT..' 

FFI is. the holding company for ICFC and FCL . 


LOCAL AUTHORITY BOND TABLE 


li. 



Anthnrify 

(telephone number in 
parentheses) 


Barking (01-592 4500) 

Barnsley Metro. (0226 203232) 




Poole (02013 5151) 

Redbridge (01-478 3020 1 

Seflon Met. BC. (051 922 4040) 

Thurrock (0375 5122) 

Thurrock F0375 5122 ) 

W re kin (0952 505051) 

Wrekin (0952 505051) 


Annual J.-i 

gross Interest Minim um lafeef \ 
interest payable sum:- bond : 


4-fi J : . 

*■ 

l 

Sr-z 1 " ' 


interest 

payable 

sum’.- 

% 


£ . •- 

m 

}-year 

lMk.y 

m 

j-year 

sjjoo: 

ii 

1-year 

250 

m 

}-year 

1,000 

10| 

1-year 

500 

in 

1-year 

500 , 

ii 

1-year 

200 

Hi 

1-year 

2.000 

31 

1-year 

SOD 

ni 

1-year 

300 

ii 

yearly 

1.000 - 

10* 

1-year 

uno 



No bank today can afford to stand 
still. At A P Bank we are taking this 
literally. We’re changing our 
address. From today you will find 
us at: 

21 Great Winchester Street, 
London, EC2N 2HH. 

(Our telephone and telex numbers 
remain unchanged.) 


13 


advantage, and relieved as they 
arc of so much borrowing and 
hf>ni7' interest. 

Many of the properties have 
been sold and borrowing reduced 
from approximately E3.34m to 
ri.Mm. This will probably be 
reduced in the next few months 
hy a Further £0.9m at least. The 
loan Mock creditor has now con 
verted all but £73,00(1 of his 
£375.000 Joan stock into share 
ranitaT. which improves the 
balance-sheet substantially. 

The chairman ■says that the 
directors placed what they, " after 
considering very carefully all the 
facts.” deemed to be a realistic 
value on t-hp 95 ner cent holding 
in Calgary and Edmonton. Ir was 
not ?n easy assessment to make, 
he adds. 

Calgary has, the chairman 
believes, paid off all its mort- 
gage monies, and the only 
creditor known to the directors 
apart from the company Is the 
liquidator for bis fees and 
expenses. A provision oF £225,000 
has been made for this; £250.000 
less than the liquid a-tor’s 
estimated provision. The direc- 
tors point out that the provision 
win be subject to t3X or approval 
of the Court. 

The litigation with former 
financial advisors Edward Bates 


SIMCO MONEY FENDS 
V SiUum Investment ; . •_ 

. .-Management Co, Ltd... 

: .20 CA N.VOX STREET EC4 .Vt.fiXB V 
Telephone: 01-2361425 


This Advertisement as issued kt compliance with the requirements of the Coimcd of 
- The Stock Exchange 

CLIVE DISCOUNT HOLDINGS LIMITED 

(Registered in England No. 426363) ~ 

Capitalisation Issue of 503,000 9 i per cent- 
Cumulative Preference Shares of £1 each -■ • 7V 

The above «securities have been admitted to the Official List and 
dealings in them will begin on 12th June, 1978. • 

Particulars of the Preference Shares are contained on cards circulated 
by Extel Statistical Sen/ices Limited and copies may be obtained during 
normal business hours on any weekday (Saturdays and public holidays 
excepted) up to and including 30th June, 1 978 from 

H0ARE G0VETT LIMITED 
Atlas House, 1 King Street, London EC2V 8DU. 



Rates paid for W/E 

1 1.6.78 


Call 

7 day 3 month 


?; p.a. 

% P-a. 

% p.a. 

Mon. 

7.990 

8.265 

— 

Tues. 

7.951 

8.206 

— 

Wed. 

8 047 

8.261 

8.375 

Thurs- 

7.915 

8.240 

— 

Fri./Sun 

11.029 

8.348 

— 


iiriiK 


1 *) i n ■ i Ktr | ■ ( • ) « « 
Kltit/d 


[•aCmki 



BUILDING 

SOCIETY 

RATES 

Every Saturday the Financial 
Times publishes a table giving 
details of 

BUILDING SOCIETY RATES 
on offer to the public. 
For further details please ring 
n 1-248 flOnO Extn. 424 


Illlill lllfflS 


h ° lidayE exce P*^) up to and 


. J .7 ” j \VWLU 1 UUV»J OMU 

including 26th June, 1978, from: — 

Robert Fleming & Co, limited, 
8 Crosby Square, 
London EC3A6AN 
12th June 1678. 


n .p°^ eG °vett Limited, . 
Atlas House, 1 King Street, 
London EC2V 8DU 









27 


fV.frCC -- ' r >- 


^ [■: 


: . vr^Kcacci^I Times Monday June 12 1978 

dividends 



as 

fsj 

»S a S 

1 the A 
ie h? A 
*nt 







i?^ m ° re ira r p0rtanT »«pany dividend 

jSatifetaUeT Dates nes M ew we€fes are Siven in the 

«j«pt?Sher6 the forth?™!* 16 * faos ® last year's announcements. 

■ fcwirBedfc, officiall/p^bShed® ifYho.Slf h ings <j, nd l ca J® d . ' &“•*> 
dividends i 0 he declared win nnt «f5f^ d -? e l em P b \ s,sed that ^ 
Mt^Ddr. cent sho™ in .ftli* n< f n «cessanly be at the amounts or 

■v^. • Pfceliininarv nmitu co * un, ° headed “Announcement last 
^SdnemeSs™^ profit fi ^ 1Jres usually accompany final dividend 


*5. 


n 

? ®4 



:ed 

iENT 

IRE 

3£»?fg 

^bfeia 

"-in-cna 

--M7AL 


\-.V.' ' Daw 

-Afcfli^foda, ..-.July H 
Alexanders 

-.-’s'- MscoanL..Jnly 4 
•Allied Brews. ..June 20 
Annan London 

r ' -Prop... July 22 
An gto-Am et-Jcan 
•'■ Corps. Grp. ..June a 
. AwfeAnuirican 

- ' Sees. July 13 
AggteTranreaai 

2 ^ Aim. Grp... June g 

jHDuumor ■ 

± 1 - Lattam June 23 
--•££7oads June 12 
Assoc, .' 

Newspapers . July 4 
•ATV . :.. . . June 22 

. •Bajter. PentTTs ..June 23 
Baraen * Geo.). .June 28 
Titty ana 

r.~ PurduBd.. July 5 
•ferWort 

:- fS.- und W.T. Jnne 15 
Btimid 

Quuleut. July 13 

■BVB Iwij. ' . June 28 
Brit am .Comm. 

SMtrpInn June jg 
•Brown- fJohnl .June 23 

■Chloride- June IS 

t3mbb — ' June 1 5 

•ConipAJr • . June 14 

Pnton July M 

Deny Man and 

t Geo. Tst. July 7 
•DsS/wh tot. ...June 19 

PJsrtners: July 14 

Dobson Pm* ...June 14 

PowtT Grp July 21 

•Ehjc. and 

; Gen. In v... June 20 
■EntfHsh Chin* 

■ Claes June IS 
•CoM Fields of 

SA Group.. June 13 
General 

•j Klectric ...July 5 

Geffetner - July 13 

Gr'gnsdfi ■ •;• .-...June SO 
•Of.* Portland '• 

■ TCeM fee. June 13 
Gt. Unlvemr 

' Stores.. Jirfs- n 

•nidnnen.- fA.> Jnno tft 
Fwnhro . Tst ...Jidv 31 

F^hbros,' Jnne n 

■F*H ' Svrrniel -Jnne.iS 

JG/Gas 1 Jnne Sg 

Imperial Grp... JUly H 
Jotrorg 

. ConsolWated.. June V 


Announce, 
mcnt last 
year 

Final 1.7852 
to 4.5 

Ztll. 1-25 

Final 4.5799 

Dire. dm 

inr. 1 

Finals due 

Final 3.611 
Sec. to 1.36S2 

Pinal 1519 
Final 3.147 
Final 2 2S.T8 
Final 4.0338 

rm. U ■ 

Int. SA 

Int. 1-35 
Sec. to 9. 428 

Final 4.3545 
Sec. int. 5.28 
Sec. inr. J-4 
Final 2.2353 
Int. 1A 
Final 1.7871 

Final 7 512 
Final 1.0823 
Final 4 49380 
Int. 0-933 
Final 2J 

Final DA 

Int. l_n . 

Dire. due 

Final 1.8OX 
Int. 1.025 
lilt. 1.0648 

Final 2.9457 

Final 4.155 
Int 2.3894 
Final 1.12 
Final W 73 
Final 2.7653 
Final S 27957 
Int. 2.25 

to. due 


Dare 


Announce, 
mem last 
year 


■Johnson 

. .. Maitter. June IS Final 7.1928 
Johnson -Richards 

„ . „ 111*9 July 19 

•Undustna June 21 

•"LOFS" JumM 

LRC JaiL ....: July Jo 

Lrwa 'J.J June 29 

Masnet and 

Souther™ July 19 
Memuy Rea... July *i 
TIK Elecrrtc ..Jane 28 
Nat. Bamt 

Australasia.. May 11 
New* Inr. ......June 38 

Pauls and 

, Whites .June IS 
■Fegler 

Ranersley.-Jtme IS 
•PiUdrusoB 

Bros_. June 16 

June » 

•Pow ell Daffryn June 20 
Prop TTldJt. and 

Jnv. Tst. . June 38 Final 3.708 

RtC3] 

El«*ct runic.. June 22 

Bank Or* July IB 

Rf<i/ffasion June 24 

Rrdland July H 

Roilunans 

International.. jut* 7 

Rothschild rne. July 18. 

•Srana Grp. June 23 
Scot, and Nwrsu, 

Brow July 13 Pinal L8522S 
Snw. and Unrt. 

lnv.. July 14 

SGF June 2S 

“SherphriflS’p 

Enu- June 92 

Stcflox Tnt jjay 20 

Standard 

Chartered June 28 
Slavery lads. . May 12 
•Srenhonse July so 

Tosco June 22 

Thorn Eto ....July 8 
•Triplex Kndrs... June 15 
Trust Houses 

F one.. July 5 
Unlxate July 21 

.Union Dlccnnm July Vt 
Vaux Brews. . June 24 
•Woodhead 

iJonasl June 16 Final 4JCW5 
• Board meet! nits Intimated, t Rights 
issue since made. tTax tree. S Scrip 
tone since made from rose rr as. 


mining notebook 


Gold mines paying out 
dfall’ profits 


Final J.529 
Final 3.046 
Final S-WTB 
Flmtl 2.170 
Final 5.535 

Final 5 
Final 3 £94 
Final ZB9 

Tut 6A cema 
to < 

Final 2.414 
Final 4.031 
Sec. int due 

lU. 0.4871*7 
Final 5.130S1 


Final 1154 
Ul. 2-115 
Final 3 415 
Final 2.942 

Final' 1.1815 
Final 9.97 
Final 2.45W 


Final 2.87 
im: 5A 

Final 2.1756 
Final 1.61 

Final 10.325 
Int 4.4 
to 2-89 

Final 0.8267 
Sec. tat. 4J582 
Final 2.739 

to 2JS 
Final 1.8672 
Int. 3-5 
Sec. to 6-03 


Public Works Loan Board rates 


.. Effective from June 10 

Quota itam repaid 


’ * i V«a» 

W to 3 

Ovfcr ^ iip to 10 
Over 10, trp to 15 
QreEll5^np.t0 2& 
Orcc 25 


by El Pt 
111 
m 

Ml 

13* 

13* 


At 

at 

maturity! 

IfrEIPt 

m 

12* 

12} 

m 

13 

12} 

13 

«* 

13* 

13* 

13f 

13} 

13} 

13} 

13} 


Noo-qnata lean A* repaid 
at 

AX maturity^ 1 
121. 12} 

12 ~ 13* 

12* 13} 


a si 


PtJSITS 

V:?' 

■ i-ipwa 


1 M 

*-•; Lj 

• i f'jrb- 
: r 

■ 7?r 

r 1. i/e FFT 


FABLE 

iir.muni LJt^ 
• uia b«i' 


t . juauc ue * i^cj mu tugiici m ecuzu oise \tmu uon- 

quota loans A. f Equal instalments of principal. % Repayment by half- \ 
yearjy annuity (fixed equal half-yearly payments to include principal 
and interest). S With half-yearly payments of interest only. . 


RECENT ISSUES 


BY LODESTAR 

THE mid- YEAR dividend season 
for the South African jjoid mines 
certainly jjot off to a swinging 
start last week. The 175 cema 
payment by Hartcbeest was In 
particuiar far above recent market 
estimates which only ranged up 10 
115 cents. It portends well for 
ihe company's June quarter profit 
due to be announced nest month. 

Calculations of the earnings 
needed to cover Ihc K2Sm puy- 
out represented by the year's 
dividend total of 250 cents (157.3p) 
look at first sight quite startling. 
oul if seems {hai the R25m capital 
expenditure estimated for 1977-78 
will nor all be charged to profils 
a* the Rll.fim loan to be received 
as an adjunct to the mine's new 
long-term uranium contract Is 
already being taken Into account. 

Even so, the June quarter 
surplus should he well above that 
or RlDJ/n in the March period. 

B-iriTels’ 170 cents fiOTpl divi- 
dend total means a distribution 
of Kl8.7m. Capital expenditure for 
1077-7S is estimated at RI7m. U 
this is fully provided out of earn- 
'nps a final quarter profit of 
R 12.7m would be needed to cover 
the dividend compared with only 
RS2m in ihe March quarter. 

It is possible in both these 
instances that extra current- 
quarter revenue will be Coming 
from Increased uranium sales. 
But a once-for-at] lift in sold 
earnings for the South African 
mines is in any case expected in 
the June quarter owing to the 
change-over in the method of pay- 
ment for their production. 

Instead of getting the old. and 
how abolished, “ official’' price of 
$42 an ounce for their gold and 
receiving the difference between 
lhai and ihe actual price at which 
it was sold about two or three 
weeks later the full value is being 
paid straight away. 

The catch-up in the time lag 
will have its impact in the June 
quarter bringing in extra average 
revenue of aroiind $20 an ounce 
or more. 

There is also the influence of 
the ending of South Africa's 
special agreement with Mozam- 
bique which will benefit those 
mines which employ labour from 
that country. Against this the 
Industry's total wage bill wiU be 
inflated by the 6 per cent 
increase granted to the white 
miners including back pay for 
May and June. 

Even so, there is little doubt 
that the June quarterly reports 
are going to make a very good 
showing and, importantly from 
the shareholders' viewpoint, it is 
already evident that the mining 
houses are not being, shy about 
passing on the once-for-all wind- 
fall by way of dividends. 

■ Thus recent estimates of those 
remaining to be declared are 
likely to be too low in mosf 
instances. In April a final of 60 


cents was predicted here fot 
Libanon making )00 cents (63p) 
for the year to June. 

The shares were then SOBp. That 
they arc 597p now is an indication 
that this is likely to be one case 
where there is a pleasant surprise 
in store. 

Similarly, Hariebccsi arc £14 
compared with £10* when ranked 
here in April as one of ihe mote 
promising of the gold-uranium 
issues. .In tills instance the divi- 
dend estimate then given was 
indeed far below that actually 
declared. 

West Driefonicin is another 
candidate for a good June pay- 
ment of upwards of 215 cents 
(135p) a share against only 145 
cents a year ago. Last December’s 
Interim was unchanged at 135 
cents. East Driefonfein's 1978 
interim could be 50 cents (31.5p). 
well up from last June's 35 cents 
which was followed by a final of 
43 cents. 

The shares at 764 p rank as a 
“buy" on most brokers' lists. 
This young producer has a life of 
over 20 years ahead of it and the 
ore treatment rale has .still 10 
reach the full capacity of the mill. 
Jt could do so during the current 
quarter. 

Kloof, which has disappointed 
many of its followers in its career 
to date, should pay a Anal of at 
least 25 cents < estimates range 
up to 30 cents I which would make 
a 1977-7S total of 40 cents t25p). 
10 cents more than for the pre- 
vious year. 

The shares at 523p are still 
considered to have considerable 
long-term potential With a mill 
tonnage build-up expected during 
the current year. The life is put 
at over 20 years. 

Dnornfontcin should raise its 
final to 35 cents (22p) or more 
from only 10 cents a year ago. 
The December interim was 20 
cents. The life prospect is stiff 
sufficiently long (production 
started in 1053) to give the shares 
at 319p some attractions for those 
who ore hopeful about the gold 
price. 

This has recovered well since 
the tremors caused by the UJS. 
Treasury's announcement of its 
monthly bullion sales. Then there 
was a feeling that gold was un- 
likely to do more than plod along 
quietly in the $165-S175 bracket 

Now, with the first of such sales 
drawing bids far in excess of the 
modest 0.3m ounces offered, it 
has recovered to over $180 and 
seems to be well established in 
the S180-S185 range. 

So. those who had been pre- 
dicting that gold would knock on 
the 2200 doer before the year is 
out are now beginning to get 
some of their courage back. 

Finally on the dividend front 
it should not be forgotten that 
the June quarter’s windfall pro- 
fits will be reflected in the pay- 


ments by the OFS and Erander 
area mines due in the autumn. 
This could mean anticipatory 
rises in such shares as IVinkel- 
haak t6S7p) and Western Holdings 
(£1S). v , 

When I last wrote afc»ut 
Canada’s Musin Explorations in 
November the -'hares were 42p. 
On Friday dealings in ■them were 
suspended in Vancouver, when the 
London -price was l.Vtp, pending 
an announcement by the com- 
pany. 

Mustos participation in the 

uranium rush in the Key Lake 
area of Saskatchewan has been 
boosting speculative inlere.«t in 
the shares. In November I re- 
ported that a major partner was 
being sought to follow up what 
were described as “several poten- 
tial favourable anomalies." 

Now such a partner has been 
found in the shape of rhe Swiss 
Aluhiniom Company (Alusuisset 
which • Is entering into a joint 
venture, agreement with Musto. 

Alusuisse’s Canadian subsidiary 
can earn a 50 per cent interest 
in Musto's claims covering 
117.000 acres hv carrying out a 
$0.Sm -expforau’on programme 
starling forthwith and making a 
cash payment of .<."0.000. 1 must 
nevertheless repeat my November 
opinion that Musto is the kind of 
share in which a good profit is 
always worth taking. 

Rise of 20% in 

company 

liquidity 

By Christine Moir 
COMP ANT LIQUIDITY Im- 
proved by 20 per cent between 
the end of last year and March 
this year, according to figures 
published by the Department 
of Industry. 

The ratio of current assets 
to current liabilities reached 
132 per cent hy the end of 
Mareh, compared with 111 per 
cent in December. 

Total current assets of the 
238 companies surveyed in 
March were £4,58 Ira, more than 
1.5 times greater than for the 
2ZZ companies surveyed two 
years ago. 

The Marrh rise In liquidity 
reinforces the trend which 
began to appear in the first 
quarter of last year. 

Since then, the seasonajly- 
ad josted figures have shown a 
tendency to fluctuate and It is 
only this latest figure which 
has indicated a decisive 
upward movement. 

Liquidity levels have risen 
well above the previous peak 
of early 1973. 


Green £ 
value 
'should be 
kept high 9 

DEVALUING the ' green pound * 
— the Common Market exchange 
rate for converting EEC farm 
and food prices — could make the 
rich richer and the poor poorer, 
according to a report published 
today hy ihe Centre for Agricul- 
tural Strategy. 

The author. Dr. Alan Swin- 
bank. of Reading University, 
says that the 'green pound’ 
provides a new policy tool for 
the UK Government and that its 
value should be kept as high as 
possible. 

When it is devalued farmers 
gel higher prices for their pro- 
duce but consumers pay more 
for food. But it should not 
simply be judged as a trade-off 
between farmers and consumers, 
says Dr. Swin bank. 

“A devaluation of the ‘green 
pound ' transfers from consumers 
to farmers, and may result in 
the poor becoming poorer and 
the rich richer. 

“Rich farmers tend to pro- 
duce more farm products than 
do poor farmers. Therefore, a 
price change, while having the 
same percentage impact on both, 
will result in a greater absolute 
Increase in revenue to the large 
farmer. 

“ Rich consumers tend to eat 
more than do .poor consumers 
and therefore a general price 
rise will result in a greater abso- 
lute increase in expenditure for 
the rich consumer. But the pro- 
portionate impact on the poor 
man’s pocket will be greater 

Top mark 

"Thus the Government's atti- 
tude to the 1 green pound ’ can- 
not depend solely on its over- 
all farm policy, but must come 
under the broader objectives of 
social and economic policy," he 
says. 

The “ green " currency sys- 
tem was first devised to maintain 
the concept or common farm 
prices throughout the Com- 
munity. But common prices 
were set too high at the start 
and are still too high. 

The high value German 
Deutsche Mark dominated the 
system, and the Germans insisted 
that any revaluation of their 
green currency must be matched 
by increases in the common farm 
price level. 

The UK’s interest was to keep 
common price increases as low 
as possible. 

" If the common prices wanted 
by our EEC partners are so high 
as to be contrary to the interests 
of the British people, then the 
concept of common farm prices 
must be jettisoned." he writes. 


INSURANCE 

Former thoughts are 
reinforced on 
drink and driving 

BT OUR INSURANCE CORRESPONDENT 


JUST OVER two years a£0 a 
report was published on Drinking 
and Driving. This, by the Blen* 
oerhasset Comm it tee, was 
warmly welcomed by the in- 
surance business and by the 
then Minister of Transport, wbo 
said that the Government bad 
accepted the report “as a basis 
for new legislation to be intro- 
duced as soon as possible." 

Two years later such legisla- 
tion. even in emhrvo draft form, 
has not seen the "light of day, 
and I doubt whether anywhere 
you will get good odds on its 
introduction in the next Parlia- 
mentary session, a sad commen- 
tary on tbe Governmem's 
ordering of its priorities. 

One fact recorded by tbe 
Blennerhasset Report was that 
of the 7,000 deaths on the roads 
each year 1.000 involved motor- 
ists wbo had recently been 
drinking. 

Assuming the same proportion 
to be true of non-fatal injuries, 
then about 30,000 people a year 
suffer more than minor injury 
because motorists drink and 
drive. 

In 1976 values Blennerhasset 
reckoned tbe cost to the com- 
munity of road accidents involv- 
ing drinking motorists to be 
more than £l00m. which in 197S 
pounds must be £125m or more. 

Min«*£ry of Transport annual 
statistics show that about 150.000 
motorists a year ure given road- 
side breath tests by traffic police. 
The need for tougher rules and 
more effective application of law 
grows with each week that 
passes. 

These thoughts are provoked 
by a four-page survey in the 
June edition of Which? on drink- 
ing habits of 1,977 adults and 454 
teenagers. 

It says: “ We asked tbe driven: 
in our sample of adults whether 
they reckoned they had driven 
when over the limit in any time 
during the previous year. 

* Almost one in four admitted 
they had — people under 35, men 
and heavy drinkers were the 
worst offenders. 

“ The average distance driven 
while over the limit was about 
2 } miles, although several had 
driven tor 10 miles or more. 


Forty reckoned they drove when 
over the limit at least once a 
week." 

Tbe survey admits that tiwse 
figures need to be treated with 
caution, but ne can disagree 
with this conclusion: “There can 
be little doubt that the drink- 
and-drive laws are being broken 
on a hucc scale." 1 

Coincidentally this week came 
news from the Irish Republic of 
an about-turn by the Irish 
Government Tbe drinking 
motorist has always been a far 
greater problem in Ireland than 
here, and perhaps for that 
reason been afforded far greater 
tolerance. 

The Irish had a breathalyser 
law, not as strict as our own. hut 
this was allowed to lapse at the 
end of last year. 

Since then there has been a 
startling rise in tbe number of 
road accidents and 2f>0 people 
have been killed in the firrt three 
months of rhe year. Now the 
Irish Government proposes lecisr 
lation stricter than that pre- 
viously in f»»rc^ 

Here in Britain insurers have, 
watched accident incidence rise 
since the beginning of 1977. 
Partly this is due to more- 
vehicles on the roads, but partly 
perhaps to increasing disregard 
for drinking and driving laws. 

As the June Which ? records r 
“One-third of all drivers killed 
in road accidents in this country 
have more than the legal amount 
of alcohol in their blood; and 
between 10 p.m. and 4 ajn. the 
proportion is two-thirds.” 

Much time is being spent by 
Government Departments and by 
insurers in studying the recom- 
mendations of the Pearson Com- 
mission. 

But injury prevention is hotter 
than compensation cure, ond 
with a proper ordering of 
priorities Government and i 
Department of Transport could 
bring in before Christmas a Bill, 
to be law by Easter, which conld 
considerably reduce that £125rn 
being spent by the State and by 
insurers, in other words by you 
and me in our capacities as tax- 
payers and policy-holders, in. 
consequence of our continued, 
tolerance of motorists who drink 
and drive. 




EQUITIES 


:r” 

-A, 







SpS 


m 





E3| 


1 f-t 

^1 













a eg 

m 

K9 









Kl 


i:-tfT7rtnrtvWuLp*UpiW 









C urrency, Money and Gold Markets 


An international outlook 


GOLD 


£££■;■ FIXED INTEREST STOCKS 



Stock 


Amor. Kxprew Int FtoVHwbtc 82,...„.. 

Armita^e (G.) ICUg* laid Qmu £W 

Bamet Bod. 1987. - 

Bril tmn »* (.<««. C<im.-lta1. 2nd Pr«. .. 

Edinburgh (01 tv of) V&r. Bite 1983. ....... . 

U**VX Water 74’Ked. P ret. 1USS 

'GroeDWvb (Luo. oft ilft Bed. 1 mB 6 
I Liberty A Co. B.6% Plrt 

VrtuiPi Cum. l*n M 

Prasau- lty J6 Cnm Praf, 

[Quick (H. 1 J.) 10* Prf. 

(Tieuiir^U^ One. Una. to 1085 


3Vo«* Waur 12* Bed- MBS 

Wjide Pntierte* 10* Pref.. 


lU 

3 * 

, V 

ot; 


hb w 


sags* 

‘E" 1 
102 [.| 
XOOft 
10 >4 
4014 

sett 

I87ISP! 

105 

100 

96 

0-'« 

100 


+ h! 


+ u 


BY COUN MILLHAM 

Many readers will have noticed 
that the Financial Times has 
revised its coverage of money 
markets and foreign exchange. 
■We live In changing times where 
events across the Atlantic, in 
mainland Europe, and the Far 
. East are of increasing importance 
i-.to the UK. A more international 
approach is obviously also appro- 
priate to a newspaper wishing to 
.increase . its readership outside 
the south east comer of England, 


Gold Bullion (b fine) 
ounce) 

Ckwe... 


JuneS | June 8 


S1811-1BJ 


81B2HSS 


I CURRENCY MOVEMENTS 




AWl 


Banker Morgan 
England Guaranty 
Index changns % 


‘♦RIGHTS” OFFERS 



ilMJpmlBrent Chemlcai* . 

W (Brown beven KemL : 

'33pm CtnadlaD lm|.<«iniu Hnk 

CVartol M «nirfBOtmtn« 

£3 pm Dobson Park lads.. 

17pm Bbutdjoaiid Gold M i n i ng —.. 

10pm 3t*talr : 

9b Horagph ilirt '»□(!-„' 

iHnwriwj f Alexander?'. . 


14 pair jafim 


SSOiaKowmjee.nb-kJBtoeb ....... 

IbO Turner 4 Newell — . 

BSigWeJinv — — 


Ending 

U.S. ttaUv 

Pjiu<iiih dollar 
Austrian Kdrilling 

Belgian franc 

Ornish krone 
Ovuiscfte Mart _ 

Swiss franc 

Guilder 

French franc 
Ura ; 


44pm I — I 


56 
25pm|— 1 
20ptn| ... 
12pmk— 1 
95 

10pm; 
410 
174 
84 


&m -ma 

89 J3 - SJ 
86.05 -12.6 

101.48 +194 

111.46 +13JL 

U&B3 + 6S 
MLK ‘ +»J 
181,91 +74S 

XO.JB +18-9 
98.49 - 4.9 

56A2 -46.0 

134.74 +3X2 


| Yen 

Bused on trade welgbird changes from 
I Waabmsion agreement December, 1B71 
fTtaiflc at England lnde*=lM». 


and so without reducing mu- 
coverage of events in London, we 
are now looking much more to 
the other financial centres of the 
World. 

“What has happened to the 
Foreign Exchanges Table." is the 
question most often asked. The 
answer is that nothing has 
happened, except that it has been 
renamed Tbe Pound Spot to dis- 
tinguish it from a new table of 
dollar rates. Forward rates are 
quoted for both currencies, with 
discounts or premiums also 
expressed in per cent per annum 
terms. 

Rates for the less major 
currencies have also been 
extended to include dollar quota- 
tions, under the heading of Other 
Markets. A currency movements 
table shows tbe Bank of England 
Index, and Morgan Guaranty 
calculations, of changes in major 
currencies since the Washington 
Currency Agreement of December 
1971. 

Euro-currency interest rates 
cover 10 currencies, including 
the addition of the Japanese yen. 
while the Exchange Cross-Rates 
table has been completely revised. 


It now includes the Canadian 
dollar, Italian lira, and Japanese 
yen, as well as the existing 
currencies, and the rates are 
taken at a uniform time to avoid 
the impression of large arbitrage 
possibilities. These do not really 
exist, but a system of taking 
various rates, in different centres, 
at different times can give rise 
to th3t idea. Closing rates in 
London have therefore been 
chosen as the basis for this table. 

Money market rates in various 
centres are also provided along 
with ihe usual London interest 
rates. No change has been made 
to the coverage of the London 
money market, except that it is 
now presented on the same page 
as other relevant financial 
information. 

Also, the opportunity has been 
taken lo quote rates in terms of 
currencies for the foreign 
exchance tables, rather than 
using capital cities or financial 
centres. This is merely intended 
to simplify matters, and makes 
no real difference. Anyone used 
to looking for rates for Frankfurt 
or Milan under rhe old Foreign 
Exchance table will find the same 


Opening S18U-1B2* 'S1M-I8S* 

Horning fixing : 8lfil-B0 S1B3.40 

;(£99.1B9) (C1M-M21 

Afternoon ftaln«._.:S181.M !S1BS.8Q 
I If 80.272) / (£]OO,0DQ) 

Gold Coin* — 1 

domm Unity I 

Krugerrand 5MBJ-1MJ SIBSi-JBW 

U£]02t-106^;(£l0i(-iam I 

JSew Sovereign* !S5Si-HU (S5Si-6Si 

!(£lvi-50i I :<£2ni-SBi) 


Old Sovereign* ~ 

Gobi Colne ....... 

interna tionaJly 
Krug em nit I 


SS61-57! 

(E304-3U) 


65SJ-574 
L£3DA Si*) 


S1B6M88J 8107M89J 
'£f((ZWIMi I (£105-104) 

Ne* Sovereign* S&24-MA ,$675-644 

(£781-293) l(£ZB3-293) 
Old Sovereign* S66J-S74 

S30 Ragle* $776-2)8 82763-2783 

$10 tingle* S1JB*-147A 'S11I-1J4 

SftKngle* i*l7i-ID2( 

rates quoted under the Pound- 1 
Spot table, but with the title of ] 
Deutsche Mark and lira. 

The changes in the presentation | 
of some information may necessi- j 
late alteration of the wording oi 
some contracts, which call for J 
rates as quoted iu the Financial 
Times. We hope, however, that] 
tbe new page wOI be seen as an 
improvement, and as a further 
step in the development of our 
coverage of international markets. 


This advertisement is issued in compliance with the requirements of the 
Council of The Stock Exchange, it does not constitute an imitation 
to any person to subscribe for or purchase any Preference Shares. 

AUTOMOTIVE PRODUCTS 
LIMITED 

(Incorporated in England under the Companies Act 1948) 

Capitalisation Issue 
of 7,500,000 9 per cent. 

-„ Cumulative Preference Shares of £1 each 

The Council of The Stock Exchange has admitted the above- 
mentioned Preference Shares to the Official List Particulars of the 
rights attaching to them are available in the Extel Statistical 
Service and copies of the statistical card may be obtained during 
usual business hours on any weekday (Saturdays excepted) for 
the next fourteen days from : 

S. G. Warburg 8- Co. Ltd, 

30. Gresham Street, 

London, EC2P 2EB 

or from 

Cazenove £r Co., 

12. Tokenhouse Yard, 

London, EC2R 7 AN. 

12th Jam. 1978 


+ is 
+ 2 


THE POUND SPOT 


FORWARD AGAINST £ 


June B 


iS 

% 


HeMnctrttoa (taicTRxballs 11 tot flax tor fleaUna..frm of «ttnw idmy. 
basefl on ntospc«iis ‘cKttoara.- -B AKumed dividend and yield- • ForecaW dJvl dend > 
W? years «roln»s. * Dividend and 

or odter nfflrial estimates Jw IMS *■ »**nne4. i Cover jimw* 

tori 
dtvti 


■rcuiata* 
r w durin? 
’noli*** 


tar estimates jot wn a Gross . r Pwnn» assumed. 
non .-or shares -not now nwMn» lor dividend or xanWns tor rwtriwed 

t Ptaanjf prlce to mtojie. w Pfnce •• 

try ferfdec. JOBeiM to IwWera of Ordtoary Aares “ •JJJS „ Kd 
to way nfeapitatlsBtiMi,-.rt MinjjnDQi render price. 14 Brintrodncea, lliwww 
to conwciwii roorgMiasthMi jamarer or tsdKM»vn\ PwrotoSuS 

to former Preference Jl Motzoem letters lor ftUly-iuld). • Provisions* 

or Pfutly-piid ' p^ptmr letUlpk . , * w* 01 warrant* • 


U.&8 
CuudUn a 
1 Guilder 

Fr 

DmSeb Er, 
O-Mack 
Fan. Em. 
Sfen. Pc*, 
tan 

■Nrttjpi. Kr 
l-Pronefr Fr. 
directlthKr. 
Tea ; - - 

Ambin Scb 
6wfi*Fs. 



sr. f - 
i eS$ 


base lenoing rates 

■AlUea Iriih Banfcs Bt. .»* C. Bnn A Co. t 9 * 

•American Exjtrees Bk. 9 % Julian S. Hodn i JJ- J 
Ampo^Rank - 10- Ho&gkong Shanghai 10 % 

■J^pvAlUiU Jlte iiii-a pW; ff,5 

Bantu) JOro^ey & Co. Ltd. ... 114% 

• Bank of credit & Gmee. 10 %•. Uoyds .Bank— W g 

Bank of (Cyprus. v - Iff %' - London Jjercantile ... 9 % 

Bank 1 of N.S/W- .9 % . \ Edward ^ Jia.naon & Co, 1U% 

Banqu^ -Mijand jank -.. 10 % 

Banqt^:du .fiip»0 B Sar&ael MonttgU — 3 * 

Barclays Bank- * Morgan Grenfell JO } 

■ Barnett Christie Ltd^« 9*% - National .. Westminster 10 % 

Brein a^Bo34ii? ' Ltd- 1 J % .Nffrvrich General Trust 9 % 
Brit Bank P...-S. Befson.& Co. ... 3 ™ 
M Brown •2-2 !T '' Rossinihstor Aceepfcs 10 % 

rannds- Perm^t--'3Prust:-;:ff;%- Canada Trust 9 % 


Canada' Pern^t- • -Trust'; . 0 
Capitol C & QiHn- I&'. V .yo. 
Cayzer Ltd.' 

Cedar Holdings 

■ CharterJiouse'Jsfpfiet*-- ^ 

Choulartons 4: •- J.-J 
C. E. Coates Jg % 

Consol iditfid. 'Credits.. % 

Co-opera fiye Banfe - * 

Corinthian Securities... % 

Credit Ly.onn«dJS 3? 


First London Sew.., --■« JO ™ 
•First Nat Fm; Corpn. 11% 


Aceepfcs 

,^oyaIBk v CanadaTnist 9 
SchlesiacerjEAmrted — ju % 
E. S. Schwab 

Security irinst Co; Ltd. 10 % 
■SbafleyrTlrust; JJ J 

Standard Chartered ... 10 ™ 
Trade Dev., Bank.--- 3 * 
Trustee Savings Baltic 10 % 
Twentieth Century Bk. Jl ™ 
. United. Bank of Kuwait 10 % 
.Wttiteaway Lafdlaw ... 


XJotamwaE. _ .. 

14X2 {tatwflta 7*. nwnth flex»ri« 
7**. ' 


■First Nat Fm. uorpn. a* » ^ oepmits on w m» or ao.«o 

^ First-Mat Secs.T,td- w-m m.on u< 

8 Antony -■ ^ and over tss,eoo Bl%- 

■- Greyhound .GPeraAty-i-’O ^ 1 , r Call JepwdtB me r £LOOB 

: ■Guumess, Mahon-«-.-r - 5 J t .^TT . . - 

•-•lTnmbrnf-'Pr"- 10 % - .seam-.. - — 


7 

4 

E1 t 

9 

i 

16 

6 

1U S 

7 

51fl, 

61 S 

1 


D*y'» 

Spread 


1J255-U876 
(2.D4 10-2.0476 
4.Q7J-4-01B 
6S.60-&8.BB 
10.614- 10.18 
3.80^-6.81 
83.DO-M.OO 
i146.45-W6.B6 
1.670-1.674 
9.b7i-9.8S 
B.686-8.4H 
8.44-B.46 
400-410 
27.30-27.60 
3.46-3-49 


CIom 


11.82E3-U273 

B-048a-t0476 

j4.OBl0-4.8Bli 

69.60-63.70 

10.57*-I0JSi 

3.604-3.61* 

83-40-63.90 

146.75- 146 J6 

U7H-1.S72* 

3_E7i-9_88i 

8.SB4-fi.S9 A 

e.46H-«t 

402i-404i 
27.88 77. 4B 
3.464-8.48*' 


4.79 1.80-1.80 c.pml 
4.40 11.90- 1. 80c. pm 

7.71 8U-71* c.pm 

6.64 100-90 r.jun 
3.7B (6-8 nn,di». 
7.67 (fifiij-758 pf pin 


.^Belgian rale Is fW convertible francs. 

'^risaBCtol francs S8.ra^9Jii5. 


One month 


0-774.B7c.pm 
0.80-0.70 c.pm| 

Bls-ilgc-pm 

36-28 c. pm 
214-414 aredli 

6-2 pf pro . . . 

15-166 c- <11* l — ia.9l!75-47& 

60-110 dla 
1*llrr-pni-l*dl* — 

1 «-2 1 irMu J — 1.2 
21 0.(1111 
2 n re pm -par I 
n-*. 

164 Rin pm 1 
31* -2 1* e. pm 

Sls-montn rorirsnl dollar S.4fi-a.40c ML 
12-momb QJ04.1(tc pm. 


FORWARD AGAINST S 



l.C.1. INTERNATIONAL FINANCE LIMITED 

8 per cent. Sterling/PeiitschB Mark 
Guaranteed Bonds 1978/86 

NOTICE OF EARLY REDEMPTION 

On behalf of the above Company, S. G. Warburg & Co. Ltd. 
hereby gives notice to holders of the above mentioned 
Bonds of the Company's election to redeem on 1 st August, 

1 978 at 1 01 i per cent of the principal amount thereof ail 
outstanding Bonds other than those to be redeemed at par 
10 satisfy the mandatory redemption instalment of 
£1 ,500 r 000_principa I amount of Bonds due on that date and 
thosa drawn for redemption at paronl st August, 1 977 and 
not yet presented for payment. 

A drawing to ascertain the Bondsto be redeemed at par to 
satisfy the mandatory redemption instaimentwiii be mads 
In London in the presence of a Notary Public on 1 9th June, 

1 978. A listof the serial numbers of the Bonds so drawn will 
be published in the "FinancialTimes" and "Frankfurter 
Allgemefne Zeitung" on 28lh June, 1 978. 


Date; 12th June, 1978 


S. G. WARBURG & CO. LTD. 
As Principal Paying Agent 


EXCHANGE CROSS-RATES 


Jirae 9 


U.S. Dollar 

DoatachoMarfel 

ftpuneto Yen 

French Franc 

5wt*i Franc 

Dutch ftniWar 

f Milan Ur* 

Qtnmdn Dollar 

Belgtan Franc 

.^SSE?* 

1. 

0.547 

1.827 

l - 

3.810 

2.066 

403.3 

220.7 

8.390 

4.503 

9.878 

5.407 

4.086 

2.237 

1572. 

B60.B 

2.047 

1.120 

09.65 

32.65 


0.262 

0.470 

2. 

105.8 

2.202 

2.503 

1.073 

412.6 

O.B37 

15.66 


8.480 

4.S30 

. 9.448 

1000. 

20.81 

24.49 

10.13 

5898. 

6.076 

147.9 


1.198 

2.177 

4.641 

480.6 

10. 

11.77 

4.870 

1874. 

2.440 

71.10 

StritoFreuo 

0.101 

0.186 

0.38S 

40.85 

0.B49 

1. 

0.414 

159.1 

0.207 

6.039 


' 0.249 

0.447 

0.932 

98.68 

2.053 

2.417 

1. 

384.7 

0.501 

14.60 


0.636 

1.162 

2.424 

256.5 

5.357 

6.283 

2.699 

1000. 

1.302 

37.95 


0.480 


1.851 

197.0 

4.099 

4.820 

1.996 

768.0 

1. 

29.14 

Set^Un Franc' 100 

1.676 

SKI 

6.387 

676.0 

14.07 

16.56 

6.850 

2535. 

5.451 

100. 


MOJKY RATE S 

NEW. YORK 

Rane Raw 

Fed." -ftads 

Treasury BUI# os-week) 

Treasury- BUfe. ifflw* k) - 

Germany 

Dbcomtt Rata — ■ 

Overaiehi 

Om . awaDb 

m outfit 

Sts. mama 


LONDON MONEY RATES 


FRANCE 

Discount Rata 
Overnight 

“<1* 

Three. -.tuooth 

Six. Mathi jU> 


JAPAN 

Discount R ate - - 

Caff rtJncflnduieuaD. , 
tBflx ‘DiicMua "Rat*-' , 


U 

w 

6.66 

7JB 


k 

3.5 

J4S 

3.65- 

3.1S 


« 

T42S 

7,75 

7J75 

BIX 


JJ 

4 . , 

.jUB 


JnneO 

1U78 


Overaiehi... 

8 dej-s noLic<u{ 
7 days or 
7 day* notice-] 
One month. 
Twn monih- 
TLrep mujiitif J 
»ia month,. 
Kino mo&UiP.' 
One ytdu.„_ 
T*ro reanp 


Storting 
Certiftrate 
of dei«v.ns 


lOft-10 

1 1-95* 
9T8-V19 
lu9Sg 
L0.9fi| 


Inteitank 


S-1S 


101,-111* 

10l,.101 a 
101, 101* 

10 10,W . 

10-10 1, I 
10-10A | 
lO-li,!* lO-V-lOi- 
— |1Q7 8 -21I, 


I*-»v»l ’tival Autta 
Authority ‘ •■re , ' ltl *hle 
deiwit* ; hnn,, » 


034-IO64 


BJ4.10 

96,-10 

gi a ioi, 
97 a -iuu 


91* 1014 
9U-10U 
85,-101, 

9i S -10 

I0ig 

SSfi-lQ 


Fin*n«f 

Hu»«e 

Depx.it* 


101,-11 
101,-11 
lUSfi-tuSfl 
10. 'b 
103 * 
10ij 
10 1, 


'.Vim puny 
Uapneit- 


Dl'cromt 

nuirkn 

depwit 




fi-10 


fli* 91, 
91* 
93* 
9H 


Trearnrv 

Bill' 4 


B*a-9A 

Bsa-fly 


Bligihle 
bu It 
Bill* ♦ 


IQrk-101,1 

10-lOrki 

9t» 

9*-9i* 


Fine Trade | 
Bills* 


103, 

103| 

101, 

1014 


Loc*l a mho rules and g nance hausec seven da vs 1 n"] lw > othor, seven days’ fi*e<l LfwiR-term local authority mortmue rale 
nominaltv three years 112-12 per cent: Four rears 121-1'-* P«r cent; five years 121-122 per cent. ® Bank bill rates in table are 
buyirw rates tar prime paper. Burins rates for fnur-monui ban* bjig per cent: four-raonih trade bills tN per cent. 

Appronmair sclJJns rate* tor one-niomh Trramff “"l* per vent: hi a -M onth 9245is per cent: and ihrae-mwith 

BMUJ2 per cent. ApproJnmata MlHns rate for nrw-monui tank bills 97(64} oer cent; and niro-monih BM iSi* per cam; and 
three-month S 1-6 Bus per cent- One-nmnUi trade bills mi i sw eem; tuo-month W per cent: and also three-month 261 oer cent 
Finance ffanrac bate Rata* < published jw Die FJhnnce Houses As%oct&U6tu Si per rent from June 1. IBW. Clearing Bank . 
Deposit Rates dor' email sum* at seven days* nourci q+, ^ eent> Clear (:sb Bank Base Rates for lending U per cent 
Treasury Bills: Averse* teader rates of discount per een. 



Kayser 


A SbefBeld based company 
manufacturing special steels 
sold through its own warehouses 
m the UK and overseas, 
silver steel, shear blades, 
machine knives, slitting cutters, 
saws and gears. 


Remits ataGbscc 



£’000. 

1977 

1976 

Turnover 

13,722 

10,575 

Profit before Tax 

1,087 

894 

Profit after Tax 

520 

432 

Dividend 

438p 

3-93P 

Earnings per share SJ4p 

6.S9p 


1776-1978 


“Your Companyhas snbslantlsl 
unutilised capacity and is well 
placed to fake advantage of the 
now more favourable economic 
nn»peci.<tasthcy are realised. 
\Ve look forward to the 
opportunity to benefit from our 
steady and continuing 
investment programme.” 

From the circulated statement 
of the late Chairman , 

Mr. N. C. MacdiarmitL 

“Oar order intake remains fiat, 
especially for certain 
departments. likewise, current 
margins are being affected by 
additional Gorenuneot levies, 

In tbesc circumstances, it is 
difficult to make forecasts but 
I still look forward to another 
reasonable year.” 

Mr. N. Hanlon, Chairman, 

at the Annual General 

Meeting, 9th June, 1978 . 


CopUx of the Amaal Repm md Chidnt^sSieaa^^btcbicdntd 
from the Secraory, P.JxBox 6. ScvhiH Road, Sheffield $9~SD, 




















































InterestRate Changes 


Williams & Glvn’s Bank 
announces that with effect 
from 12 th June 1978 
itsBaseRate foradvances 
is increased from 9' '6 
tolO'»perannum. | 

Interest on deposits at 7davs’ 
notice is increased from 
6'V) to 7"'' per annum. 

mimmmmmim & 


This advertisement in issued in con: pUav.ee v. f/.'i 
requirements of the Council of /he Slin k Exchange. »* 
does not constitute on inri hit ion ft any yuson to subs-..: h- 
for or purchase tiny Tre/ircncc Shares. 

QHEEKrFESX.aa 

(Registered in t'ngLindNo.5$2l90) 

Capitalisation Issue of 891.429 10 per cent. 

Cumulative Preference Shares of £1 each 


The Council of The Sind: H\ch:mye has aJmUiecl ih- 
above Preference Shares t..i the Uliioal List. Duidjni 1 .- 3 
"ill be payable in equal linli-v early instalments on the 
jU'h April anil .'Kt (Jetober in each year. The nr*: 3 
payment, amounting to 3. ,, 452p per share inet of ifie^yS 
associated lax credit ), will be made on 51st October 197' . if 

Particulars rci.itrni; to the Preference Shares 
available in the HmcI M.iti*ii«.al Service and cupie>i ■ ■f'Ss 
such particulars may be .-htaiueu durinj; normal bus:ii.-' - 
hours on any weekday i Saturdays excepted) up to d 
including doth June 197a from : — 


cmi:ssel&co.. 

WINCHESTER 1 IOI SE. 


1 lAfXIDAY SIMPSONS C.O.. 
1\U. BOX 41 2. 


100 OLD 1SRO AD STREET, 9* KING STRI.IT. 


LONDON EC 2P2HX. 
12th .June 1978 


ALVNCHES TER A I GO 2 HA. 


Car and Commercial Vehicles. Agricultural 
Equipment and Fuel Oil Distributors 
Year ended -Sin I'cbruji.v 19TS 1 V'77 


Turnover 


£»n»’s 

X4.S42 


l Re.*i:r • i 
inn*' t 


Australia and New Zealand 
Banking Group Limited 
announces that on 
and after 

12th June 1978 

its base rate will be 


perannum 


AUSTRALIA AND NEW ZEALAND 
BANKING GROUP UMITEO 


Profit before lnmr«s: ar.d 'i.o.a:K»n 2-44.1 l.5* ; " 

Profit before Taxation 2,1 rt6 i.'S"- 

Earning:? I All! 1 

Dividends • •>* 

Statistic* 

Earning per Share 34.8p *jn 

Dividend per Share 4. Ip 

Dividend Cover “.9 5 

• Record Year 

Increase* over prevh u.- year. — 

Turnover .74 "f, 

Pri.fil.* 71 W. 

Earnings per share 73*7, 

Annual General Meeting — u.\f> rd 14th July, J97S — Copic 5 of 
Report and Accounts may he obtained from The Secret 'V. 
Hartwells Group Limited. Seacourt Tower. West Way, Oxi-oi. 
0X2 QJP. 




INVEST IN 50.000 GETTER TOMORROWS! 

50.090 people in the United Kingdom suffer from progressive iy 
paralysing MULTIPLE SCLEROSIS — ihe cause and cure .-.f 
v.-hich are still unknown — HELP US BRING THEM RELIEF 
AND HOPE. 

We need your donation to enable us m continue our 
for the CARE and WELFARE uF MULTIPLE SCLER«'>!S 
suilerers and to omnnue mir connnnnivnl io find the i 
and cure of MULTIPLE SCLEROSIS through MED1C-.L 
RESEARCH. 

S Please hcljv— Semi, a donation today to: 

Kuom F.l. 

Tin- .Multiple Sclerosis Society of 11.11. and N.l. 

4 Tavhlironk Street, 

London SWI 1SJ 




BY ALEXANDER PIERS 


^aagsaa 





rur 

rWELLS OR 

7! 

OP LTi 



HAYING TURNED nut 222 

feature films last year, as 
acains; Britain'.* 59 t including 
12 made by US. major com- 
panie.-i. fur example, ii may 
-'■en *lra:iae to hear the French 
■? mincers crying " erisis." But 
iin.-y are. and for good reason. 

They are asking the Govern- 
ment to bring them salvation. 
To:* makes sense, too. fur 
n.ihody e!*e :* likely to enme to 
i iacr> r aid. and Die State exer- 
ei.M-s a.* il.irc a control over the 
i-eiiinn picture business in 

Fiance as one is likely to find 
•ii any industry outside the 
:iaiiona I i ? cd sector. The rele- 
• aiu legislation. which dictates 
ins office prices and the rules 
all i he v.ay hack down the line 
from >crtx*n to script, was 
enaded by :i:r- Vichy Govern- 
ment in 1942. when there 
appeared he good reasons 
for wrapping strung red tape 
around the people who made 
:xlki'ii picture-.. 

With nearly half the year 
2 * and a new Minister of 
Culture — r hc iif: h within the 3: 
.-.•■ar= since President Valery 
i.'iiscartl d'Estsmg took power 
— in charge of film irdus- 
■ry mailers, i; !.< unlikely that 
ai:y radical change in the 
-mature ni the business will 
maierialijc in 197S. 


Ticket tax 


The previous minister. M. 
Miviie! d'Ornano. tried a little 
tjck in February in the face of 
a gale force campaign mounted 
by the industry re alert p.Vii- 
ticia:i« and the public to the 
-inking fortunes of French film- 
makers. He promised more 
money from film aid funds, a 
VAT cut in the Technical sector, 
including studios and labora- 
tories. help fur new talents and 
aid in pushing exports. There 
was alro talk of asking parlia- 
ment to reduce the tax on 
admission tickers from 17.6 to 
7 per cent which would bring 
the cinema into line with other 
forms of entertainment, includ- 
in2 vircus and striptease par- 
lours. and of extending to 
three years the waiting period 
for <howmg feature hi ms or. 
ic!*’ vision. 

Tito new minister. M. Jean- 
Plulippe L*'ca:. has television 
under hi* control a? well 
a*- the cinema, the first time 
that mic minister ha- been given 
swa> liver the tw.. mam audio- 
visual media. 

21. Lccat nude hi* b-r.v at the 


Cannes film festival last month. 

fail of resolve to stop the quar-. 
rel between the cinema industry 
and the TV channels, which. are 
accused of showing too many 
Sims (526 in 1977) at prime 
viewing hours and of paying too 
little for them. He has yet to 
say how. 

Whether TV is the culprit or 
not. the French are going to 
the movies less often. -The 
total audience fell from 44lnr 
in 1957 to I67m in 1977. Last' 
year's attendance drop was 4 
per cent, and French films took 
13 per cent less at their' own 
national box office, netting less 
than half the total take for the 
first time in history. To make 
matters worse, they took 23 per 
cent less in export markets," 
including a substantial drop. In: 
North America. 

Yet 222 feature films were 
made in France last year, 
against 214 in 1976. An. 
analysis of this production helps, 
to show what is wrong with, the! 
industry. Total investment' in 
production was slightly more-' 
than rrOm, of which £60m. came 
from French sources and the 
rest from abroad. Average cost 
per film was only £317,000. 

However, about 100 of the 
films made were small budget 
porno, or quasi-pomo. pictures, 
made for less than S60.000 each, 
and many for considerably less. 
Porno films, in the N category, 
are a prospering section of pro- 
duction. Since their classifica- 
tion was created at the begin- 
ning of 1976. they- have been 
subjected to a special high rate 
uf VAT. at 33.3 per cenL dis- 
qualification for automatic aid 
from the film fund, and a 70 
per cent, profit tax. Imported 
titbits are hit with an extra 
£35,000 duty, which is contested 
by the EEC Commission in 
Brussels as contrary to Treaty 
of Rome regulations, as it dis- 
criminates against flesh flicks 
from other Common Market 
countries. 

France's national box office 
gross last year was £2 43m. 
£2 13m was left after tax, and 
exhibitors took half under the 
1942 Vichy Government law. 

The exhibitors are criticised 
for taking too much of the box 
office receipts. • and are also 
blamed for sacrificing neighbour- 
hood cinemas in favour of town 
centre multiple theatres. They, 
and the three mammoth distnbu- 
i:nn firms. Gaumunt. Parafrance 
and UGC. winch virtually control 
the nation s cinema program- 


ining. are acCl '*® d do not 

** jerking ” promise. So*® 6 

show inunediau P _ tf|e scree a 
films disappear f operv in- 

within 24 ho«^ of h l g distributor 
■By the time pro( iucer is 
has had his cu between 

likely to end up 'v»ui ^ ^ 

15 and 20 hc receives it 

Pa* ^-'.r/r Exhibitors are 
u another matter. . & money 
said to be slow in iww ® 
back along the line. 


-■ •: -£i 

- -V - j.jvCr 

. . : i-z&rcp&L*.. *2’ 4 

— * -4.K0M • Wfcralfc ■ . i>-jLaTg. : ’» ’’ . i 

~.y2 r ®ir. ..k* 


is to get 'them ’ 

screen.-andfliiat ia 4’4b^r 
he explains-’ 

Many, leading film-lhak 
Claude : ChaUt^, ;-L«iJai < ' J 
Claude 

Alain Resnais 

have -joined '-jother^SiS^ 

du ring, tihfi 


7 . 

- 


$eP 


Precarious 


_ , non-poroo pic- 

SSSfHS 

investment in ^ no a pre - 
industrv ft has become a pre 

SS profession The number 
of traditional P^^uon com- 
panies willing and able to invest 

their own funds in pictures wm 

now be counted oil the finders 
of two hand-;. 

Beside Iht-ni have appeared 
another breed of packagers and 
-fixers, who l or in a different ^com- 
pany for each production. These 
‘'producers’’ raise money against 
presale contracts and an advance 
on receipis from the film fund. 
They pay themselves fat salaries. 
If the production collapses, they 
500 n pop up again wearing a dif- 
ferent hat. 

If the serious producers can 
be counted on the finger of two 
hands, reserve the thumbs for 
a couple of companies with big 
influence. Gamuont is France s 
big all rounder, turning over 

£23.5m and controlling some 10 
per cent of production. 12 per 
cent of distribution and per 
cent of exhibition. M. Daniel 
Toscan du Planner, the produc- 
tion chief, is applying a high 
leverage policy spreading his 
£S.25m production investment 
this year uver pictures with a 
total production value of around 
£27.5m. “For a film to break 
even on the French market is 
already a feat. We must look 
for our profit overseas.” he says. 

Gaumont has opened sub- 
sidiary distribution companies 
in New York and Rio de .Taniero 
during the past year, and is 
pushing fit both the North and 
South American markers. Last 
month 1 hey bought a half share 
in a cubic TV operation in New 
York i.Vy. oil which they will 
show their feature films. 

“French films have a ureat 
rep’.iiatmn. hue they are lacking 
in prcsL-niulmn. i'iiir problem 


ment chief > : 
channel , vii icfa. 
screening feature'Qins; 
investing in tbea&ieal 
production, has eroly^j ^" ; 

financing sghem& with ' 

European’. TV- jictworks^ . 
middle . budget^ CvL&C 1 

national character in Dm lafi m ?'-: 
countries- takmgj^at 
•* Big budget 

or more of - our*' fencKoi 
higlity paid, bbx offixje, f 

u'nrt in 5 , rafWfe*/ '..h. - . STHf r . 


work in F r afice .ij^ !»&■. .. sayfe-7 ^ 
•‘Apart from these, qifljf;a.'5owUi 
budget fil m ran ' % 


on the 

It is medium CMt--puifcs,:ii£v 
the £lm area. th^t'art^diSteg^: > 
if not impossibfe^ tO‘>prwterM- L - 
It is important 

kind of film to C 

lures of Eurbpeair.haliBW^ - 

Besides G attOronL- 
thumb of the French prodnetioii-'" < 
fists is the SociSt# fen^atEe ^..; 
Production, the jTVdaii ffeah^pj :• 
film produi^on'rii^m^jdv'seit.'im'': : : 
over three years./aga.-wfeB8--t6fc7-. 
old ORTF br oadcas^ng - 
tion was taken a part, .and wiiKh- 
is 100 per cent- owned hy\fl£ ; 
State. . • . yf j.ffvrt -. 

Cable netwoF|7 

SFP invests,^ "either 1 with 
or services, 

productions a year, ^ad ciml4 : ! - 
become a considerable .tf»r^fe ' }. 
It is headed by 3t -JeaiOjBte -': 
Edeline, a man wdio -; 

access to President: 4Si*arfl - 
d’Estaing. and vho:Jtuas4 he ffii;«; 
individual with the biggest'. sglrf e 
in France’s televisKni :';ana 7. 
cinema affairs.. ; ' ''yyfyycf ^1. 

It is M. Edelfrte :- 
championing Videotiraatemisd^ - 
a big screen cable .. 

France is developinEr tbatwiir : 
use mainly existing^ .. dama; . 
theatres. -‘ 7 : .‘- «:'!-Y -; 1 -- 

With the tivo . big: .pEOdBOWk*. ' - 
Gaumont and SFP. sb loxbiit^': 
with the exhtbition side pf lbe .: 
business, it appears . rniHkdf; 
that they win favour .^ total • 
revision of the: “ 

(jnvernment law. '/• F'V'lr'.:\ ..- 


are making themselves at home 

inlelford. 








Welle is an important company 
which had very specific requirements 
for the warehouse and headquarters of 
its distribution operation in the UK. As 
Europe's largest cabinet furniture 
makers, with manufacturing 
concentrated in West Germany, their 
UK location had to be within easy 
reach of Germany by road. Equally 
important, it had to be central to the 
UK, with good communications in all 
directions. 


The selected location had to offer a 
choice of suitable warehouse premises: 
good homes in a pleasant environment 
were needed for their valued 
personnel; and the company required 
positive assistance and co-operation 
from people on the spot for the legal , 
organisational and financial aspects of 
setting up their distribution centre. 
Aftera thorough look at what was 
offered in various parts of Britain they 
chose Telford. 

Mr. Keith Dumall, Welle's U.K. 
Joint Managing Director, says: 

"We chose Telford because it has 
such a good centra! location and 
excellent com mu nications with all 
parts of the country. The 18,000 square 
foot warehouse unit offered by Telford 
Development Corporation was just 
what we needed. We also liked the 


professional approach of.the ' 

Development Team. The Wtidej 
operation, from initial contact witii . ;: 
them to our moving in, has taEenj&S 
than one month!' ' - ^ 

Mr. Dumall is just oneof many.- x 
industrialists who like whatTelford Has 
to offer-and particularly its business: : 
like approach, and fast answer*. Soft 
you're thinking of moving, ekpandinfe 
or just starting up, think Telford, ft "’7 
offers a great deal— and a great future v 
Post the coupon or contact U9today. i 


.- -.5 : w, 

VA 

-HI 

: ^ if ” 

■ 

















I An Industrial Opporl liiiityl 

j Bob Tilmoirth, Commercial Dirert« K ''-vii 
j Telford Development Corporation, - 
| Priorslee Hail. Telford, Salop TFZ9NT. 
j Phone: Telford (0952)613131 - ' -- I 

j Telex: 35359 . . ' -.j 

I Na ™ ,1 

I Position - - Tf 


Address 


/; 






% 

w 










ft r: 




-'••• Huincfel Hjjks Monday Jih» 12 197S 


iu s>j 0 ?: 

tn '^er» 

Tf*, 

:\?°W 

WHW 

^55. 
“ ' fJ ^ 

1 ,r,< 4: 
;^ fse > 
.;• *** 

; !tl1 

- •- '0 rn 5 ? 


; ’^in? ^ 
! *‘“'Hol , 

(,U? «5 •»;. 

J “‘ ! 

P Uunjt. , 
- rc oiaicut 
:n !>rodu* 

- ,n llit rj. 



Midland Bank 
l^aRate Rate 

0 Midland Bank Limited 
announces that with effect 
i^from Mon. June 12th 1978, 
its Base Rate is increased by 
to 10% per annum. 
Deposit Accounts 
Interest paid on accounts held 
at branches and subject to 
7 days' notice of withdrawal 
is increased by 1% to 7% 
per annum. 


International Financial and Company News 


Pet moves to 
block IC bid 


vv 


Midland Bank 



DIRECTORS of Pet Inc, the 
diversified food concern, have 
rejected the proposed $38Bm 
lender offer by ic Industries, 
tne railroad holding company, os 
not jn the best interest of’ Pet 
shareholders, and has taken legal 
action to block the offer. 

The IC offer is conditional on 
the proposed merger between 
Pet and Hardee's Food Systems 
not being approved by share- 
holders of Pet and Hardee’s. 

Mr. Schenk, the Pet chairman 
and president, said that the hoard 
had confirmed its earlier decision 
to effect the merger with 
Hardee’s according to the exist- 
ing agreement. 

In a lawsuit filed against 1C 
Industries to enjoin the company 
from proceeding wiih the lender 
offer. Pet also asked that the 
defendants be prevented from 
interfering with, or attempting 
to impede in any way, the 
merger with Hardee's. 

Mr. Boyd F. Schenk said that 
the board had concluded, based 
on advice received from its in- 
vestment banker, Morgan Stan- 
ley and Co., that the 1C. Indus- 
tries' tender did not reflect the 
value of a controlling interest 
in Pet that should be obtainable. 

Pet's lawsuit against 1C Indus- 
tries alleges a number of viola- 
tions of rhe Securities Act. 

Besides IC Industries, other 
defendants include two IC sub- 
sidiaries — Centigon and Iconci — 
and Morgan Guaranty Trust 


ST. LOUIS, June 1L 


Company and Ban quo de Paris et 
dcs Pays-Bas which are involved 
in financing the tender. 

The suit Charges that the 
defendants made misleading and 
false statements and omitted 
material statements. 

Among other things, the law- 
suit charges that lhe defendants 
failed to disclose that the pro- 
posed tender offer is wholly 
dependent upon obtaining loans 
□f $390m. that the loans cannot 
be serviced or repaid without a 
sale »f income-producing assets 
of 1C. its subsidiaries or Pet. 
and that Pet's assets and cash 
flow are necessarily being relied 
on directly or indirectly to 
finance the IC offer. 

The lawsuit filed by Pet 

against IC Industries maintained 
that misleading statements and 
omissions by IC Industries were 
Intended tn induce Pet share- 
holders. pending the commence- 
ment of the proposed offer, to 
sell their shares to arbitrageurs 
or other market professionals 
and to induce the arbitrageurs 
or market professionals to pur- 
chase the shares at prices related 
to the price of the proposed 
offer, thereby seeking to assure 
the success of the offer after It 
hegins. 

Hardee’s Food Systems 
declined to comment on lhe Pet 
suit against 1C Industries, but 
said that it would continue with 
its merger plans with Pet 
AP-DJ 


Coutts &. Co. announce 
that their Base Rate 
will be increased from 
9% to 10% per annum for 
balances in their books on arid 
after 12th"June, 1978 T v 
■ : and until further notice. 

The Deposit Rate on ; 
monies subject to seven days’ 
notice of withdrawal will 
increase from 6% to 6i% 
per annum. 


East Germany borrows 
$300m at lower rate 


BY FRANCIS GH1L£S 

EAST GERMANY’S Foreign 
Trade Baok is raising S300rn for 
seven years on a spread over the 
interbank rate of J per cent 
throughout Lead manager of 
this loan is Citicorp. 

These terms are finer than 
those obtained by East Germany 
no its previous loan. $100m for 
iDtrac Hands Isgesellsh aft (with 
a spread of 1 per cent for two 
years rising to 1J per cent for 
the remainder) arranged earlier 
this year. Since that loan was 
completed, however, another 
East European hnrrower has 
obtained finer terms than those 
hoasted hv the current East 
German one. 

Hungary raised 5300m for 
seven years on a spread of f per 
cent for the first three years ris- 
ing to 4 per cent for the remain- 


der. That loan did not meet 
with a good reception in the 
market and the East German 
negotiators may have been 
aware of this point. 

Tunisia has just awarded a 
mandate to Bank of America to 
raise SI 00m for eight years on 
a spread of S per cent through- 
out. The terms mark an improve- 
ment for this borrower, which 
raided S125m for seven years 
with a spread of 14 per cent at 
the end of last year This im- 
provement is very much in line 
with current market conditions. 

Algeria’s Societf Nat ion ale de 
Materiel de Construction is rais- 
ing S25m for seven year/ on a 
spread of 13 per cent. Lead 
manager is UBAF and the loan 
is guaranteed by the Banque 
Exterieure d'Algerie. 


m a Westminster 
mvr Bank 

NatWest announces that 
with effect from Monday, 
12th June, 1978, 
its Base Rate is increased 
from 9% to 10% 
peranrium. 

The basic Deposit and 
Savings Account rates 
ywl! be increased from 
6% to 6f% 


Holderbank sees upturn 

BY JOHN WICKS ZURICH. June 11. 

FROFTEABILITY 6f the Holder- SwFr 43854m, and consolidated 
hank toncern, one of the world’s sales would have reached a level 
top three cement groups, is of SwFr 2.37b tL 
expected to be sustained and Total insta-Med capacity of 
gradually improved in 1978 and group plants rose to 27.7m tons 
cming years, management chair- last year compared with sales 
man Dr. Erwin Maechler. said of some 22m tons. This reflected 
here. ■ a “not exactly satisfactory 

Last year, balding company capacity use rate." suit! Dr 
Holderbank Financiere Glarus Maechler, who attributed this to 
AG experienced a decline in net the recessionary trends in con- 
profits from SwFr 22m to struction. 

SwFr 20.9m (511m) but in view In 1977, Holderbank Finan 
of its positive ' expectations is to ciore increased its stakes in Ufi. 
keep the dividend at SwFr 14 and West German cement com- 
per share. Consolidated net panies and acquired its first 
profits for the Holderbank group CbHean participation, while a 
were down to SwFr 72.08m Canadian affiliate bought up a 
(?38m) from SwFr 94.33m. as closed-down cement works in 
part of a slightly increased cash New York State. Major new 
flow of SwFr 376.1tn capacities were completed in 
(SwFr 367.55m), after a rise in South Africa and Ecuador. A 
group turnover from SwFr 1.8Sbn new plant will open in the 
to SwFr 1.96bn. Lebanon this August and the 

The 1977 consolidated figures Origny plant in France is being 
would have been much larger bad expanded. 

exchange - rate relationships Dr. MaechJer also said that 
remained ualtered. At 1976 rates, Holderbank was studying new 
group net profits would have possibilities in North America 
shown a marked rise to and saw new opportunities in 
■SwFr 129.6m within cash flow of Mexico, Brazil and the Far East 
- 

Heracles Cement advance 


BY DAVID TONGE 

GREECE’S LARGEST cement 
manufacturer, Heracles General 
Cemqnt Company, reports a 113 
per ant jump in profits to 
■Pr 352m (S9Bm) and a 61.8 per 
-egnt 1 increase in turnover to 



LIMITED 


msw: 

13,59a 

e.trta 

2.04233p 


1976 
£000*s 
127,030 
* 8,966 
4,615 
1.82907p 


year ended 30th December 

Turnover 

profitbeforefex- 

Praf/taftertaxand extraordinary items 
OcdiOBTy' dividend : ■ 


i; Wfthiurti<>verip26%and profit Jbefore tax and exttaordi nary items 
; • &%HghQti J l&?j inay be regardedas a very successful year, 

. 

every ten ordinary shares held on 2nd June 1 9/»-: *v :■£ - - 

: Vft remaiGS;the policy » continue the orientation of AP increasingly 
tow^nfe the replacement market 

JnrproyernenLj^ j, b. Emmett — Chairman. 


N 

* 1 — 


w | wry-; 



J^bbj^orgs beck 


■ o AND AP AUTOMATIC- TRANSMISSIONS. 

i'V-” ~v-" . . 11 - 


Dr 5,500m (S153An) in 1977. 
Exports rose 80 per cent to reach 
1 . 8 m tonnes, making the com- 
pany Western Europe's largest 
single cement exporter, accord- 
ing to its chairman, Mr- Alex- 
ander G. Tsatsos. 

Speaking at the company’s 
annual meeting, Mr. Tsatsos said 
that deliveries for domestic con- 
sumption and exports totalled 
4.3m tonnes last year and were 
equivalent to 41 per cent of total 
Greek deliveries. He said that 
the company plans a new plant 
on the island of Euboea with 
an annual capacity of 15m 
tonnes. However, be complained 
that for the past six years Greek 
governments have maintained 
prices at low levels so that the 
pre-tax selling price in Greece of 
unbagged cement in December 
1977 was only 522.8 per ton. 
whereas that in the EEC was 68.8 
per cent higher. 

Last year large purchases by 
Saudi Arabia. Nigeria and Libya 
meant that Greece’s cement ex- 
ports of 4.5m tons were higher 
than those of the other 18 mem- 
bers of the European Association 
of Cement Manufacturers except 
Spain. Greek consumption, how- 
ever, is still just below the peak 
of 6.1m tons reached in 1973. 
Looking to tbc future Mr. 
Tsatsos questioned whether the 
“crisis affecting economic 
activity all over the world " 
would hit Greece. 

The company has been re- 
organising vertically and in 1977 
Its subsidiaries earned net profits 
of Dr 138m (S3.8mi on gross 
| sales of Dr 1.465m ($40.8m). The 
parent company is providing 
I Dr 467m fSISmj for depreciation 
last year and increasing its divl- 
J dend per share from Dr 50 to 
j Dr 75. it is working with a nega- 
tive working capital. At the end 
of last year it had total capital 
j employed of Dr 5.893m ($l(V4.3m) 

I and total outstanding foreign 
currency loans of DM 45ra, of 
Slim, and FFr 16.8m. together 
with SwFr 5.3m, and Y576m. 


Nona Is Hereby 
C orporation. Santa 
amount of the abovi 
accrued interest the 


T9l 






206 

1554 

3119 

4410 

5958 

7423 

21S 

1555 

3123 

4416 

5969 

7430 

230 

1556 

3127 

4438 

5971 

7434 

247 

1579 

3120 

4451 

5973 

7439 

2M 

1583 

3134 

■4472 

5978 

7441 

253 

1534 

2128 

4493 

6001 

7442 

280 

160* 

3133 




285 

1609 

3154 

4515 

6019 

7448 

287 

1512 


4533 

6026 

7471 

SIO 

1619 

3156 

<576 

6035 

7487 

321 

1663 

3171 

4546 

frV.S 

74SI 

328 

1676 

3174 

4562 

6084 

7512 

344 

1678 

3175 

4679 

6088 

7532 

345 

1653 

3180 

4595 

6093 

7547 

353 

1684 

3208 

4693 

6103 

7560 

37 J 

1685 

3240 

4e02 

61 ’5 

7532 

375 

1586 

3241 

4605 

6126 

7584 

376 

1698 

3245 

4611 

6142 

7614 

377 

1704 

3250 

4625 

6143 

7624 

385 

1716 

3261 

4627 

6K7 

7627 

39 r 

7734 

3282 

4635 

6(51 

7633 

399 

1735 

3284 

4655 

6164 

7638 

406 

1758 

3285 

4672 

6170 

7669 

407 

1778 

3293 

<674 

6192 

7670 

409 

1785 

3294 

4682 

6190 

7572 


7790 

3235 

4683 

620? 

767S 

KSM 

17?3 

32°6 

4697 

62 T2 

7678 

418 

1809 

3T-Q7 

4696 

6232 

7673 

426 

1310 

3302 

4 700 

6Mfl 

769J 

439 

1312 

3303 

4704 

62<0 

7693 

440 

18)3 

32 19 

47.09 

fi.M4 

769J 

444 

1894 

3321 

4703 

6297 

7658 

450 

1904 

3225 

4710 

6299 

7701 

454 

1999 

3331 

4740 

6303 

7702 

463 

1934 

3341 

4750 

6307 

7’2g 

477 

1S35 

3344 

4758 

6310 

7745 

433 

1937 

3370 

4761 

6315 

7740 

495 

1963 

3373 

4778 

K120 

7767 

4 SB 

1972 

3373 

4803 

6327 

7791 

497 

1995 

3375 

4810 

63?8 

7794 

502 

20U 

3333 

4824 

6338 

7808 

51 1 

2040 

3397 

4847 

6347 

7820 

546 

2047 

3411 

4849 

6243 

7822 

55? 

2050 

3419 

4593 

6356 

7836 

btl 

2054 

3434 

4900 

8173 

7659 

577 

2081 

3443 

4916 

6393 

7840 

581 

2091 

34 75 

4918 

6394 

7877 

582 

2115 

3479 

4929 

6?98 

7879 

601 

2115 

3507 

4940 

6404 

7886 

606 

2164 

3517 

<941 

6405 

7903 

607 

2170 

3525 

49<6 

6412 

7919 

610 

2185 

2535 

4950 

W?0 

7934 

fiM 

2189 

2M2 

<954 

K4.i9 

7953 

627 

2218 

3552 

4977 

6440 

7954 

644 

2219 

3560 

4978 

6459 

7961 

645 


3568 

4987 

6475 

7970 

646 

2220 

3600 

4995 

6496 

7984 

657 

2234 

3602 

5006 

6505 

8014 

wa 

225 0 

2606 

E037 

bh08 

5019 

fa67 

2261 

2641 

5062 

6511 

WUfl 

692 


3642 

506B 

6514 

KUO 

694 

2274 

3544 

5069 

6520 

6080 

695 


3558 

5070 

6 ft?? 

8085 

697 

2293 

2689 

5077 

es:*5 

8115 

702 

2509 

3599 

5078 

6530 

8147 

70fl 

2312 

3700 

sneo 

8531 

8155 

713 

2327 

3702 

5083 

B543 

8166 

734 

2354 

3708 

5090 

bbW) 

8213 

736 

2377 

3710 

5108 

b553 

8228 

743 

2379 

3713 

5115 

6555 

RT<0 

758 

2381 

3725 

5126 

6563 

8255 


2386 

3740 

5129 

6577 

8261 

K/,1 

2390 

3741 

5143 

5600 


B?4 

2399 

3750 

5175 

6616 

Frol 

879 

2403 

3783 

5194 

6639 

B?73 

651 

2417 

3807 

5201 


8296 

865 

2422 

3808 

5235 

B67B 

8305 

WEm 

2426 

3S15 

5245 

W7S 

E 533 

1.1 

2428 

3826 

5247 

Mi 81 

8307 

910 

2440 

3830 

5248 

bfW 7 

8334 

957 

2441 

3831 

5252 

6699 

8333 

960 

2444 

3B35 

5285 

1)708 

8353 

1019 

2452 

3863 

52?t 

8732 

8360 

1032 

2456 

3674 


tt.'33 

8362 

1034 

24 57 

3879 

5323 

6736 

8363 

1043 

2492 

3894 

5334 

8737 

8367 

1060 

2E27 

3923 

5355 

i>739 

837? 

1<76 

2546 

3P31 

5356 

H7M* 

Hj/H 

1077 

2553 

392.8 

5360 

S757 

8384 

10.50 

2555 

3947 

5361 

5760 

6387 

ins 

2567 

3957 

5364 

b7*8 

6401 

ms 

2569 

3964 

5407 

57.'6 

8409 

1130 

2579 


6415 

6789 

8415 

1135 

2580 

3986 

5442 

ti/91 

8419 

1137 

2597 

3996 

5«3 

8795 

84,-4 

1136 


3957 

5458 

CHW 

8431 

H40 


40C1 

5465 

SP07 

6432 

1144 


4002 


•*42 

8434 

1149 

H-Tv-M 

4003 

5509 

wso 

8439 

1157 

2694 

4009 

5515 

5653 

8449 

1175 


4015 

5528 

&S60 

8473 

f 193 

2/09 

4322 

5535 

W/0 


H99 

2711 

4035 

5544 

5907 

8488 

1220 

2716 

4042 

5564 

5910 

8489 

1231 

2718 

4043 

5567 

5920 

8497 

1233 

2719 

4053 

5585 

5947 

8506 

1238 

2734 

4075 

5596 

5977 

6527 

1247 

Z755 

4032 

E597 

5978 

8536 

1250 

2765 

4101 

5601 

548J 

6045 

1252 

2766 

4116 

5605 

5937 

8559 

1263 

2772 

4124 

5620 

7004 

S591 

K67 

2773 

4129 

5627 

7018 

8610 

1C7S 

2775 

4137 

6640 

7023 

6613 

1279 

2793 

4143 

5645 

7046 

8514 

1290 

2815 

4155 


7084 

6621 

1213 

2837 

4159 

5565 

7065 

8647 

1321 

2«4| 

4 165 

5675 

70U7 

<Jt6b 


Interest on said Bonds shall cease to accrue on the redemption dale and on said dale the redemption price will become due and payable on each 
of said Bonds railed for redemption. 

Payment of the Bonds to be redeemed will be made open presentation and surrender thereof, together with all coupons appurtenant thereto 
maturing subsequent to the redemption date, at The Chase Matthau jn Bank (National Association) in the Borough of Manhattan. The City of New 
York, or, at the option of the holder, at the offices or The Char.c Manhattan Bank ( National Association) in Frankfurt/Main, London and Paris, and 
ai rhe offices of Ncdcrlandsc CredietbanlE N.V., in Amsterdam, Banque dc Commerce S. A., in Brussels, Swiss Bank Corporation, in Basel and 
Zurich, and Banque internal ionule a Luxembourg S.A., in Luxembourg. Such Bonds and coupons should be surrendered at the office of the Chaso 
Manhattan Bank, N.A., Corporate Bond Redemptions, 1 New York Plaza, 14lh Floor New York, New York 10015 or, at the option of the holder at 


The Chase Manhattan Bank, N.A. 
P.O. Boa 440 

Woolgate House. Coleman Street 
London EC2P 2HD. England 

The Chase Manhattan Bank, NA 
Main Office 
41 Rue Cambon 
Paris IER, France 

The Chase Manhattan Bank, NA 
Frankfurt Branch 
P.O. Box 4428 
Taunusanlage II 

frankfurt/Main 1, Germany 6000 


Banque Intern a lion ale a Luxembourg SA. 
2. Boulevard Royal 
Luxembourg, Luxembourg 

Ncderlandse Credietbank N.V. 
Herengracht 45S 
P.O. Box 941 

Amsterdam, The Netherlands 

Swiss Bank Corporation 
1 Aeschenvorsiadl 

CH— <051 

Basel, Switzerland 


Switzerland 


rramuun/ twain i, vjermany ouw Swiss Bank Corporation 

Banque dc Commerce S.A. 6 

51 /52 Avenue des Arts 8022 » "inch. Switzerland 

Brussels. Belgium 

Coupons which shall mature on said redemption dale should be detached and surrendered for payment in the usual manner. 


Paradeplatz 6 
8022, Zurich, 


Dated: June 12. 1978 


SANTA FE INTERNATIONAL FINANCE CORPORATION 

By The Chase Manhattan Bank (National Association) 
as Trustee 



BASE RATES 


The Hongkong and Shanghai Banking Corporation 

and 

The British Bank of the Middle East 

announce that their base rate for lending is being increased, 
with effect from 12th June, 1978, 

To 10% per annum from 9% per annum 















39 




WEEK’S FINANCIAL DIARY 


HOME CONTRACTS 


APPOINTMENTS 


Tho foilowm" is a record of ihe urim.-in.il business and financial engagements during Ihe week. 
The Boa:d nice lines arc mainly for the pmW of ennsiderms dividends and official incticaiions are 
not available whether dividends concerned a»e interims or finals, lae sub-di vis tons below are based 
nsainiy on last year's timetable. 


TODAY 

COMPANY M£t I INCS — 

Inn Ten AtiB European 20 AlBormar-Burr 

SiV^r! Sr.^inevrn*;. G.ri Hj' 1 Line. CnoaBle 
Henlh. S:i.:hpc/-. 

EUARD MEETINGi — 

Finals. 

Ariel I'd!. . 

AtbCd4i.'J Bni<sn Foods 
K :• S-— uel 

iD.-.nan W.Jj-j/ 15 
Pi»iu 

P<oa:rtv and Reoenionary In*. 


lnlnlH« 

Corn t»CMnB # _ 

£ M i QnK.iU-ii: wH Mining 

Prcor ’ Pidcnl* 


P *Q\jlDL&3 *• ,NT tREST PAYMENTS— 
AECi PI * 73“ 

Ancnoi CR'-'H'S’ 1 z -0®7Z5b 

A%fCiWV »nd MjdOiey O 7£>3p 
Crai-an «'j/crau>« 3.8CZO 

Hjrg Kona iSe'anOor) Rubber 5.94* 
Lordon , E jr ? TC i n , S » 

Si. G?&rg«- P.S30BB 

Tenreco I nl SO ttS- 
TC O WEDNESDAY. JUNE 14 
company meeting* — 


Onon Valle* 9‘*BCBd». Red. H.6 . * 
ES.0353 

Darentrv 7‘»DCBd5, Red. 20 12 : ?8 ,3e 

Dudley 9'<dcB(ls. Red. I4.»73 tS.0351, 
7'aBCBdS. Red. 20'12r7fl 3.BC 
Dundee S^pcBcs. Red. H'GTB £S.0a53 
Edinburgh 7 '<PtB<|i. Red. 20 12 73 3 *F C 
Empire Stores iBrjoJordJ 2.60460 
Greater London Council 9 J .ocBd.. Red. 
14,6:7 b £5-0353 

Greater MancncMcr Pavsrnst-r Transoort 
Eaecul’ie 9 '.ocBdc. Red. 14 6.. 8 

Haterlug 7ArpcBas- Red- 29:1 2/7 S 3\DC 
Nau'islo** 7 J ipcBds. Red. 20/ 1 2178 3>pc 


Capper-Neill wins 
£5.9m. order 


Sir Peter 
London C 


Hill 

w 






W.C- I 

'.N 1 1 a.rr E n^irsiTrinq Inn. 

Wet! Etom«i[h Spring 

D \.IDfcr.Q A IhiEREST PAYMENTS — 
C-5>tU O.kiCKon Fcaice Int. 1.7121P 
Eintou"' E '.oc ISSt £4. OS 

Hl-CAvel Irr. 47. S CIS. 

M C .11 1 133 «!l. 
u.i»inQ r j cis. 

P.arsa'i Longman 4 2 360 
r.,rs)i- (/. i 4 30927o 
S-n-imld Br th 2 1 = 

Jiniim n-ds. 3 2 C53P 
Time Inc. 37 S ct». 

TOMORROW 

COMPANY Mreil.’iGa — 

Aiii'.t S-i.einhick Warfei, W« Mid- 
lands 12.15 

E-15J r» Stores iBraelordJ Victoria HC.Pl. 

3rad'?-d 12 

Garner SC'.'iblur. The Grange. Bermgnd--e> 
S.E.. 230 


Britannia Arrow. Abercorn Rooms. Great Kyle and Carr.ck 10-VpcBos. Red. 9'1 2'81 


Eastern H.'td Bishoosaate E.C. 12 


Great E-*2*rn Hole*. UMrpod Leeds SLpcBds. Red. 1 4.6: ? B £5.0333. 


Red. 2D 12 '78 3 -pc 


Cnjr.ge Wares G^oat Eastern Hotel. Ur-rr- L’t-npooi 9 '<oc3ds Red. 14 6.,( {4>.0353 
cool Street C 12 Maiosione 7 iPCBdl. Red. 20:12 78 3 -pc 

Duoirr Midland Hotel. Ne*» Street. Npvicisile upon Tyne 7 '<pcBd*. Rea. 


cuOl Street - ... 12 

Dugin. Midland Hotel. 

6 irni.nal.am J- 3 D„ „ 

F P.A. Csrijirir-.li^n Halla 
Sheffield. 1 2 


■lot W. New Street. Newcastle upon Ty. 

23 12 78 3'apc 

Hallam Tower Hotel. N^.-in Bedt'i'dshire 


Jj1Z.'7B 3«PC 


r.iualay . Andrew R.l. 1175 South Street. North Cornwall 7'«>KBdS- Red. 20 12 78 


R.'tby Por!land Cement. Ci!>*t House. Allied Re'a.lers 


Ripghr. 12 Br'l.sh C 

P'jrh and Tsniklr.s Marlowe House Station rrclist ;«t 
Ril-. S'dcua Kent 2 10 Con 1 "'idn 1 

Tama' Mitrondie Hotel Birirnnoh »m. Counlrr ai 

11 30 j.ich •> 


tin 1 -ud.is SStt'fery 
.noh»ni. Counlrr and Mew Town Props. 
j.ic ei • illi I F -carp 


Un.tod Memsoaper* 2J-27. Tudor Slieet. London and l3.-r.-»* Freighter* 


E 12 

BOARD MEETINGS — 
Finals: 

PriVsh Tar Prod'icls 

Brownlcn 

DTornfiiPtein Gild Mining 
GEi Inti 

G"il Pcrtland E/.'l*s 
I.IOM Gold Mmirq 

Jrl-nsin Ml’ln r 
Littno-i Golo Mining 
Parrish ■' J. T.i 
nneierHatinrsiev 
Ret-e— :>ii Foods 
S: ct h'e» 

Lenier'.pcist Cjld Mining 

Y n't n -r.i-'d M-1 


H?™Vn e "*Mni , |’o3c “ Hotel Btackoool. 2.30 Norm Kestcrer 9 '.mlBds. P»d. 14'6.7fl 
Icisel. To.isee 30. Cdrnhlll. E.C.. 3.3D £5 0353 

Mowinm • jonr ■ Wegtgate House. Ealmg Pearce it. H.» 1 29Sp 

Piiae Breeder: 1 1 Poclc 7'iOCBds. Rea 20 1 2I7B 3 '« 

oi-rce ’ ard £!■?■■ ironic Machines. Tower Portjnouth 10'socBds. Red. 1012 BO 

HotH St. i.J-iarmej Way. E-. 12 S‘inPt 

Slicin' Spinners Holden Fold. Royton. Rhorttda 9'aPCBds- fled. 14 6 78 £5.0352 

11 jo Rnymney Valley 10'«PcBds. Red. 10 12 00 

BOARD MEETiraGS— S‘i-« 

finals: Salford 7 vpcBds. Red. 20 12 78 3%PC 

Alliance |n> Solihull 9 'ancBds. Ped. 14 6 78 IS 01SS 

-* South Herefordshire 9 rPCBdl. Red. 

ai:4rapli Theatre* 14 6'7E £5.0353 

Sonth Lakeland S^Klils. Red. 115 78 
It.r-erv £5 3353 

lew Town Props. Strathclyde B'.ptBas. Rea. 14 6 78 

F.'Cara £5.0353 

• Freighter* Tnimesdown Var. Rate Bonds 8'12'B2 

P-mters £3.95 

bn ThirrocS 7 '.OCBd«. Red. 20 12 78 3 «PC 

Wansbe^k T VocBdS. Red. 20 12 78 J .o: 
. ... Ykard White l.7p 

rs and Wheel* Warwick 9a 4 ocBds. Red. 14 6 7B £5.0353 

r ", _ Wear Valley 10'nPcBds. Red. S 12 82 

cr. l Trust 5 ,,„e 

" , . . T c _ . , _ _ . Westminster Var Rate Bonos S 12 82 

•y INTEREST PAYMENTS £3.9S 


CAPPER-NEILL INTER- 

NATIONAL has won a con- 

tract for storage tank? ; < n< * 
spheres for the- fluid catalytic 
cracking unit project being con- 
structed by Pembroke Cr-ickins 
Company at Pembroke. South 
Wales, where it will -er-e the 
Gulf ami Texaco rermcrie- The 
order, awarded by Snamprotioiu. 
main conirnctor. is for 44 iank^ 
wirh a lolal capacity nf 
cubic metre.-,. tJapper-Ncill i* 
undertaking tank design and 
supply of materials. Coit-'lvi ton 
is planned fur autumn next year. 


miern -computers and associated 
components to EarcresT. a maker 
of fruit marhines. The contract 
is said to be the largest for 
uucroproewsors outside the U.S. 

liorcresi is converting its 
machine- to microprocessor con- 
trol to give greater reliability and 
cosier reprogramming when | 
<iakps and payouts ha\e lt> be 
changed, ll al-o hopes :o adapt i 
standard machine* in differing! 
expert mai-ket* more easily. 


Sir Peter Tennant, industrial 
rtvtser 10 Barclays Bank Inter- 


Ci.’emai:9raph Thy airy* 


Tridin: Goud P'lnlcn 
wni.ij/ VlaliC" 

Inleilmt: 

CwfiirA.r 

Fisa-i.o CiS-Jt' and Whnll 

N.jMir.'srtam Et.v- 

US. Aid Gd ■<».■• Truit 

"VlVtCEMD y INTEREST P. 
4v :u :j->' M:s iQ'iatDb. 


1 Truit 

NTE REST PAYMENTS 


R--:u!j-a' MIS 10'iScDb. 92-35 5'.»C W.lunuc 9 ‘.ocBctt. Red. 14 6 78 £5.05S3 
.t 9 .cesas. Rea 14 6.8 Windier ind Maidenhead 7%pcBdt.. Rea. 
£=.0353 _ . _ ^ _ 20 12 73 3 . DC 


A contract valued al E.."::; has 
been awarded in CU.<«>Tt»N 
CONSTRUCTION. Scunlhnrpo. by 
the Yorkshire Water Authority'* 
Southern Division. Tor coc-t ruc- 
tion of a major extension m the 
irealed wator storage facili: ■*.■> at 
Honber Reservoir, near '•■'vnl- 
Horlh. Smith York.shire. .■* pro- 
vide an additional capacity •>! Sim 
•gallons. Completion is s*ch:duled 
for late 1 HS 0 . 

* 


HUMPHREYS AND GLASGOW 
SERVICES ha.< a £150.000 con Lracl 
from the North Western Regional 
Health Authority for mechanical 
engineering .-services at Oldham 
and District General Hospital. The 
contract. Tor alterations and 
additions to cbe kitchen and staff 
dining rooms, covers ms-: dilation 
of all water services, 'including 
low pressure hot water heating: 
gjs: ventilation and catering 
equipment. 

* 


Bl>bv V-' S*:c 543. Rod. a 12 82 £3.05 
Gr^dwHi 1 -f.W S - Rubber Estates 1.7P 


THUR5DAY. JUNE IS 
COMPANY MEETINGS 


c^.«--ry -3 - Red 14 6:7.1 £5 0353 Alginate IndS.. Charing Cress Hotel. W.C. 
e.gnor Ddibar-h _Owvfor 9'iPcBds. Rod. T2 
; 4 o 7. !• : BSG Inti . River Rooms. Savav Hotfi 


Standard Chartered 


announce that on and 
after 12th June. 1978 


BSG Inti . River Rooms. Savov Hotoi 
W.C.. 12 

Sunil Pulp and Paper. After com Rooms 
Great Eastern Hotel Bishoosgate. E.C.. 
11.30 

lam oi red English Stares. Dorchester Park 
Lane. IV.. 12 

C -. .at l ml cen naught Rooms Great 

g^cen Street W C. 12 
5ra up. jr Television. Television Studios 
Queens Cross. Afterdcer. 12.30 
i-ead |nds. 14 Gresham Street EC. 12 
Mlisriuuse and Snok, Moomronk Mills. 

New M 'I HudO 'rvtield 1 1 .30 
Porter Cnadburn. Si. Georges H:tel. Lime 
srreet L ,:r«uAl 12.15 
Usher- Waive- Connaught Rooms. Great 
Qicen Street W.C. 12 
Finals: 

A'pir.c Soil Drinks 
Catenae 

■? -m.n.on and General Trust 
C7 jrnnr.Jon iny. 


An order has been received by 
KEELA^ ITE HA'DRAL I ICS. 

Coventry, from the Prope^r;. Ser- 
vices Agency (DOE) lor refurbish- 
ing i wave generaring sy« ! i rr> in- 
stalled in the nianocuvrir- 
at lhe Admirallv. Marine Tech- 
nology Establishment, llaslar, 
near Gosport. Hants. 

The work includes replacement 
nf electronic conrrol rquiomenl 
and inspection oF the hydraulic 
ind m«ehanical system w:*b re- 
nlai-emenl of eomponom? wncre 
ncccy-=a r v The contract is worth 
about iB.in.ono. 


the followins annual rates 


will apply : 


te 10% 


f Increased from f'% 


Deposit rate (basic; 61% 


(Increased from i5%» 


S) Standard Chartered 

Ml Bank Limited 


Hargreaves 
H.ghgwic and Jvb 
i.-V Tiinser 
.MCI (Wm.i Builder* 

P-ttcrson <R.i 
T-ipWx Foundries 
interims: 

Uvr-siord 'S. and W.) 

Bluc-nel Bros. 

-jsllehdd iKMng, Rubber Eititt 
Dun ee end London Inv. Trust 
usgliub China Cays 

v.iilingha'1 (Rubber! Development 

Svr.cicatc 

Matrix j d Saatcm 
dividend a interest payments — 
Altar Booth !n;X. Dh. 4 k 
A ntigua 6r.c 77-80 3pc 
Ainiraiia ■Cs.'ninon.voaltu oil IS Tr. 6':ri 
BdS. due 15:682 3'aDC 
flru dierd IH.pcSds. Rod. 13 6:79 5 :ipc 
C roda lnU 1.191846P 
Cummins Enciphering Ir.C. 4] cts. 

Cu tie*- Hammer me. 35 cts. 

Cma 32 CIS. 

East A'rica High Commission (Post end 
Tele-o-nmunicat onsl S',PC 77-13 2"*CC 
■ Railways and H.irD^urii S '.nc 77-83 
2",pC 

Eimt-idge 1 2 UpeBds. Reo 11 6 80 6i,n 
£ iuitv and Law Assuranie Sec ety 6.6867c 
Fnotav t Andrew R.) 1.1 7p 
tiding Li 5><PC 73-30 2>,-c 
Gerraro and Nat -.nal Disccu.it 4.171 o 
G l.i-ge.am 1 1 OpcBds- Red. 13 6 79 5 >dc 
G uardian in». Trust DC 2cc c7J-?31 
-I.iard-a" Rovaf Eicnangr Assurance Ln 


The master process shutdown 
>y>icm for the \inian Field 
N'oriberD Plaiform is to be 
-upplieti bv GP-ELUOTT ELEC- 
THUN'IC SYSTEMS under a con- 
tract awarded by Crest Engineer- 
ing (UK). Inc. on behalf of 
Chevron Peiroleum 1 UK 1 . About 
30 alarm signals will- be fed into 
the shuidown system to operate 
about 60 outputs. The associated 
matrix display and built-in test 
facilities with feed-forward fault 
monitoring permit on-line testing 
of the s>> lem without the u*e of 
test sets or manuals. The equip- 
QteDt cosb about £30.000. 


'Hill Brn. Srcamshio 50- Plg.P:. 1 75 dc 
, Hirnot: Trail 6d«PI. 2.1« 
laringr, 11 .ccCds R?d. 12 6 79 5'«oc. 
■a'.icCs. Red 1J6E0 d'-rc 
I Hj!l 3 -o: Red 75-78 2 -Be 
!iv«tO-, C*0. Truvl 5 '.oc PI. 7.1J75o 
i J-«di 1:viwi 3 21o 


Thermal insulation and prni-'ctive 
rladiling con true is rn pin-vuM-k 
and Vf.isels totalling over £.'n 0 .nn 0 
associated mainly with new • iiemi- 
i-al plants in Britain hav ln'cn 
-cniro] by McT.n.L 1NSU1 \THiN 
GROUP. Contracts im-I.i' 1 *: a 
nrlnn intermediates plant .*( Seal 
Sands. Tccwid". bring conFi r, i*' , e<l 
hv Lummiis for Monsanto %vhcr»' 
rhe urgency of the pro o ne 
requirfd work on ‘■ite in hv fully 
tn hand wi»hin in da vs «.f rhe 
sjv.-ard. Two mniriets f;orn 
llattbew Hall Engineering. * ooly- 
elhylene cornpoundin^ pi ?n at 
Grangemouth for BXL and an 
■•rganic I'hrmirals nJan' for 
Merck at Enfi“ld: anxilian -•-•’m 
boiler ??nrratinc plant at Uttl rt - 
brook T"i Power SJatinn- an ! :h« 
irn^rarJing of rrisr-re rho r ” : 1 in- 
sulation ai >ho London n-.l- 

r rai' , ior*n:i'yn nlant or l.nd- r and 
Viif-oi-so i-hil" in rwrinnnnc pr*«- 
duclio-i. are olhor awrird*. 


ITT BUSINESS SYSTEMS has 
received orders valued at £260.000 
from Wiggins Teape for a liita 
communic.’itions ty<lem incor- 
porating a programmable com- 
munications controller 2 nd 64 
tisuaJ di.-play units. Initially it 
util link ail sections in the south 
e.isi region of Wj^lns Teape 
Paper, the company’s sales divs- 
-•ion. and some of its UK paper 
milU. into the mainframe at Its 
Ba«ii:g«roke headquarters. Even- 
tually. other branches and mills 
throughout the country will be 
linked. 

* 


PRO DOR ITE, Wednesbury. has I 
been awarded a £100.900 contract 
by The I’.J.iyton Aniline Go. 
for the pre stressed corrosior- 
rcsistan? tile linings of 2 h rub'yer- 
iine.l mild steel nroce-ss vessel* 
'.arvsns in vnlume from 10 to 50' 
cubic metres. | 


a ng t.tj 311 . 1(11 S*c2ndPi. 1.75s 
i-iil* S«''«gcr Ru^rev 6 op 
j(igSr.,.yji 12>jPcBdJ R<-d. II 6'SJ 6 '•0! 
M :nd C M-diono and Grnerii Trust 
Fund I"-. 3.4 b 

Me* co Un-t.-J Mmcan Stores) Burn 
Bds. 1391 4SOC 
M In V’r-ierj 3 3819n 
Nat-wsal Bank of Australasia Old. 7 cts. 

v 2««i.-no 7'r“ (fl3-66> 3 Vcc 
Ranks Hot*s McDougall GpcIstA and B 
-n. 3' in PC 

r.l'dw-H 13PC R?d. I9B2 6::pc 
Sott-sh Ncrthern Inv. Trust 2 45* 
S.-l'Vh SRi'"sr* C.EC60 



Base Rate 


■igrr 2 £) cts. 

S'cugn 9\x Red. 79-80 4>-oc 

*-o:ng 0 3in 

Su-ld-jrlir.d 12'«oC Red. 1984 6'^c 

Swar.-.r-a S : *trrBds. Red. 13127S 4 !«b; 

7 PW l-c. 4! CIS. 

Tc-B' hcmslcv and Mlllboum 2 2702P 
Tw;gn> Ln. BUdC 57-90 4i,nc 3‘;P- 

77. ?0 1 -.cc 

'Mltcd B-sc • il* Dbs J'j an- aoe 
r.v- R«» Trjysury 1982 £3 25 
r-»s:.iry Var Rr* 1932 £3.25 

'.‘•■Hi |-4» 1 60710 

.-nl'rWW Tmi.: Sn'PI 1 7Sa^ 

--.s V. v lllc --f Ancles 'v 11 ,pcB4< 
■»-d 1:6 7 r - S -3V 

FRIDAY. JUNE 16 
».-ML»»ANY MEETING- -- 
D \-k H 1-011 Ugl'l Pvrk Lare. -.V . 1 ’ 
w-'l -WiuKewl Winter Girper Hare 1 

"•jCtll 0„r -II S-lUJ'e. w C 12 , 

Rci-rf. 4413rd. US P«H Malt. b.A.. 12 J 
BOARS MEETINGS— 

F< rials: 

Caflvni 

"ergukan 1 er|. 
p Ikmyian 8 -os. 

Wold -8 14 « Jonas) 

Interims: 

-T.-inreiS (Arthur) 

Rj-Aurn Irr. Trusr 

DIVIDEND & INTEREST PAYMENTS — 
Ai-Straiian Agr 3.5 cts- 
! rj-ntlm* Inds. 1 7140 
1 Ocwhlrst *1. J.i 1.16p 

-Ush Electric Db 2 'jDC 
HS'irii-gnini Grouo and R.V. I.SlB 
Ind. and General Trusl 1.1 Sa 
■( -.0 and Sriavan 2.33972s. • P'p.PI?. 

! 13o 

le-CTitcr Floatlno Rate 1932 £4.n»77 
-.Dnden and Provincial Pd'ter 6 7940 
*.ondon ur.-ted Invs 2.10298e 
SATURDAY. JUNE 17 
DIVIDFMD i INTSREST PAYMENT — 
Tr^e^'c Ccongmircr '. n. 4* ( .pc 


i*be -n.-’C'al piirnnep vah : *.*l<’ fPvi. 
• I'm .r SHEI.VOKF. \XH 
fHIEHUY. Louhuvirth. Ivj* 
*?eurcrt an nrdi'r f>r 21 
•snd rah u»vn Tor Londo** Fire 
Brigade dual-punx^e sump 
escape vehicles. The order is 
worth about £490.000. She voke 
and Drewny is a subsidiary -.f the 
Butie-rfieLd-Harrey Group. 


BANK ( !!• CKi: Hi T \ N I j CO> I ME KC f 
I.M KRN V HUNAi^.A. 


BANK OK CREDIT AND COMMERC E 
INTERNATIONAL (OVERSEAS) I I D 
announce that from 9th June, 1976' 
their base rate is changed ■ 


from 9% to 10% p.a. 


> I ' >«i Lc.Klci)h.ill SirvL-i bin Jon 3 \D 


MOTOROLA has won contracts 
-vorth £360. (Kin fo- RuopItT.a 


Contract to supply all lhe fire 
pumpin? equipment. a«--ociated 
control panels, and prefabricated 
pipework, for the port of Jubail 
I ndu.-irial Harbour. Saudi Arabia, 
has bem awarded to MERRY- 
\VEATHER AND SONS, the 
Greenwich-based lire engineers. 
The ord t was placed by Hyundai 
Shipbuilding and He3\v Industries 
‘To. Total value b* I42.500 and the 
equiomeni includes thre sub 
m»rsibie sea-water pumps 


adviser 10 Barclays Bank Inter- 
national, is to be the nest presi- 
dent of the LONDON CHA MBE R 
OF COMJIERCE AND INDUSTRY. 
Sir Peter, who will . succeed Lord 
.Mats, is a former ■. director- 
general of the British National 
Export Council and deputy 
director-general of the CBL His 
directorships include Prudential 
Assurance and C. Tennant and .Co. 
Sir Peter will be elected at the 
chamber's annual meeting tomor- 
row. 

★ 

>lr. Clive- Snmmerhayes. has 
been appointed chairma n of SE 
CHEMICALS OF LEICESTER. -B 
member of the Halma Group.- • 

* 

Mr. G. P. Taylor, managing 
director of the Guardian, bat been 
additionally appointed deputy 
chairman of the GUARDIAN .AND' 
MANCHESTER EVENING NEWS: 
vt 

Mr. A. D. MeDbwaU has bera, 
appointed manaeing dire aor of 
BRITISH SMELTER CONSTRUC- 
TIONS. 

*■ 

Mr. Derek Lsherwood has been 
RDnointed to the board of BURCO 
DEAN. 

.Mr. Barry Childs has . been 
apDointed marketing director 'for 
TJTYLANT) VEHTCLES. 

Lord Catto of Cairn catto has. 
succeeded the late Sir Harald;' 
Peake as chairman of the Coariril 
of the ROYAL AIR FORCE BENE- 
VOLENT FUND. 

★ 

Sir John Reiss is to be presi- 
dent of AR TS FOR FREEDOM 
AND ENTERPRISE from July 1 
and he will be succeeded as chair-. 
Tnn by.3Ir. John Lyle. Sir Frank 
Taylor will be a vice president ; 
★ 

Mr. Trevor Fairbnrst has been 
aoDointed to ihe Board of P & 0 
BLIJs SHIPPING and becomes 
general manager, oil and bulk. He 
succeeds Mr. Stephen Carter, who 
was recently made managing 
director of that « w »npany- 
★ 

Mr. Y. \. Sergeev has been 
annointed chairman of .4 YfiLO- 
SOVTET SHIPPING COMPANY 
snd all comoanies in ike group. 
He tnkes over from Mr.' A.- B 
Pmdnikor. « ho is returning to the 
Soviet Union. 

★ : ■ 

r.c-\-]TW \T r \n inh ering com- 

PXXV fRAIKTJFFFI states That' 
fo»- kealtb r»agnp« Mr B..K. Rig- 
land ha*f >^! ! nnuiehod his sewmint- 
v.-kh rh«» mmn.inv, Xlr Rig- 
lont* »*-av '•hairrrtJtn plus ermiD. 
yr -ipar-ing Hiroetor .'"d S^red *he. 
pnmnmv ail h*'« wo«4.-ing life.- The 
■ipiri'- r*nn»» Sir. R R Ogden, 
hi* j?k-“»n ike chair, ind the tw« 
i:.-nr ! .-i:e iliwi-.rs. Mr. H. E. C 
Th»miav and Mr. K- A Fotder- 

*'*»ve “nnninterl fi : pect’ncq. 

Mr. J R. Holland and Mr. R VV 
oh afield, exerntive d’re'etors. 
become ioint general managers 
and Mr. M. E. C. Thomas becomes 
deputy chairman. 

* 

Unilever’s continental -based 4P 
GROUP of packaging companies, 
has m 2 de changes to the main 
Board. Mr. H. A. .A. Smith,-, mar- 
keting director since HU2. lias 
moved to Unilever. London; as 
3 member nf p25i»r plasrir- and 


packaging co-ordtoatiorT 

s pecial responsibilities pack^- 

ing polit^ftOr. Karl 

previously managang r ,^- 

4p Folie Fowshheim, tiiejswi ap,s 

plastics films 
wcSSed Mr. South as 
development 

directoi- of the 4P Group-board 
in Kempten- ^ . --^ : 

Mr R K- ■ Jones Jias been 

gr^SSoSL 0 " 8 smvicBS. 

Birmingham- His -a ppolntmem o 
part of a reOrgaoKatfon of the : 
management strucUire^of thg 
Division, in which Vlr. J. E? 
Marshall has been appointed 
director, UU Energy Systems,, a.nd 
Mr. H. Prescott director and 
fenenl manager, Kynpch 
Engineering. 

BARCLAYS BANK INTER- ^ 
NATIONAL announces that -Mr. 
Peter Dodd, seconded, from 
-Barclays Bank. has been 
• app oin ted an assistant' general, 
manager, head 

. ponsibil+ry for the UJv. branch 
operations. He replaces Hr. W..J. 
Rutter who has- returned Tp : 
Bacclays Bank as chtef mepeclor^ 

; DID COOPE has appointed Mr. 
Lionel Cooper as finance director. 
He joins Ind Coope from the 
parent company. Allied Breweries 
: (UK), Burton-on-Trent. where, 
for the past year, he has beM . 
assistant chief accountant. 

Mr. L R. D. Andrews, an 
associated pi ember of B REWIN, 
DOLPHIN AND CO., storfcbrokers. 
has become a full partner.' 

Mr. Andrew Rfhtonl is- to retire 
as chairman of the Northern and- 
Scottish Advisory Board of 
LEGAL AND GENERAL ASSUR- 
ANCE on June 30. He will be 
succeeded by Mr- Trevor R. Han. 
★ 

Mr C H. Jackson' has retired 
from* the Board of TELEPHONE 
RENTALS. ' 

Mr. Hugh Fish, THAMES 
WATER'S director of -scientific 
services, has been appointed chief 
executive of the authority from 
July 1. He takes over from Mr. 
Ales Morrison, who has been, chief 
executive since the authority was 
created in 1974. Mr.. Morrison is 
retiring. 

Elected president of the INSTI- 
TUTE OF COST AND MANAGE- 
MENT ACCOLTMTANTS for 1978-79- 
is the group chief executive of 
The Charterhouse Group, Mr. 
Geoffrcv Rniiett. He takes office, 
immediately The following were 
elected vlcc-nre«fdeniv Mr. Frank 
Hay burst and Mr . William Hyde. 

Mr. David Mu lea by has been 
appointed managing director 
of ATERRYHILL CLEANING 
CONTRACTS and Mr. Andrew R. 
Vining continue': as chairman. 

Mr. D. B. Money-Contts has been 
appointed a director of PHOENIX 
ASSURANCE. Mr. Money-CoutLs is 
chairman and managing director 
or Coutts aiid -Co. ond a director 
of National Westminster Bank. 

... * j 

RANK OF AMERICA has made 

. . • ■» - 


the following appotett^xte . & 
Europe. M*d5e East^and^ Africa: 
Dhision: Mr. - Resjn. - Jh : 

;vk»-preffldenL in - ig- -Iwndto. - - 

branch . energy ‘j&S : 

KiCTnlfng, to viceifcrcsijiehiMn the 
London' branch' durahlc goods zjy&j 
Iran^pb rtatio n section^-, and-afr,-' ; 
Malcolm Nortin, to yice-presldent' * • 
in the London brand! sfappingi. 
sectftm.:.';. . ^ ; \ ; . -j^.V 

"Mr? CUmon vi 'Stiver; aftf'dlte^ 
nate- director ■- of. '/the - company^ . 

SPENCER. : r Mr. AJan K. P.-StMtii -' 
nas been appoin ted lo.- tlie .; boant y . 

• ^ ti-. ■ 

Mr. R T. ^ Ch^p^hak retlwS. 


Mr. R X I^Chj^pdr-hak retlr^ -f 4 1 

as director' of purchasing for .-PM 


Inmont. Europe wid South Africa, v 
the group ihar tne hMtes .Jhft-»UK.-: 
companies Fishtoum Printing Ink, ' . 
Porvair and Iranont. - 


: Mr. Bryan HHdrew. manage r 
director of Lloyd's JBegister. of - 
Shippin g , has been unani mously , : 
elected chairman of tlre WTEB* 

national associa tion QF 

CtASSIFICATK»N-SQCIET£Kfif^ 
the- next biennia^ term .(I97980L . 


' Mr. F. G. Paddfe, adminisaTativ^ 
director -of- KL4Y AND 1 -BAKES, -■ 
has retired. - . 


Mr. J. G. Beaumont bK : b«n "-- 1- 
appointed ■ LLOYD’S- RKOSTER - 

OF SHIPPING senior prindpaij. 
surveyor for West Germany, sue^ - 
ceeding Mr. E. F. Reid. -who it, r' 
returning to Britain at Bis .owh ; 
request. He wiU - join -Uoyd^'..‘ • 
Register's ' . industrial * services. -: 
headquarters In Croydon; : - -h-ft' . 

* . - -.'.'ft' 


Mr. W- A. Jack has retire d fr n mft : 
the board of- STODDARD TlOIdJr^. 
INGS. ' Mr. J.- «L -'Tarter has : : - 
.joined the hoard. - . ..£'■?'£’• 

Mri, Patrick Lloyd; has .been;;;., 
appointed •' dire ctor' - of ' -the^- 
CENTRE FOR ' INTERNATIONAL"! : 
BRIEFING. Farnham Castle. . "i f - *- 

Hr, Norman Hanlon. managir^- r 
director of SANDERSON" - KAY- - . 
SER; Sheffield, has been elected 
chairman in succession to lhe : Ut®!-.- 
Mr. Ntall C MacdiamW. ^tr. FIan-- . 
Ion will continue as managing,, 
director. . 

Mr. John Walkerdine. chainnsqr . ~- 
and managing director. Win...: 
Walkerdine. Derby, is th e nejk> 
president of the INSTITUTE -OF -• 
BUILDING. 

* - -r.- !-•>: 

Mr. G.. G. Rice, a director rf -- 
Chareon, has been elected preii- *7 • 
dent or the ASSOCIATION OF 1 . 
BUILDING COMPONENT MANU- 
FACTURERS. Mr. Neill NewSMt . 
a director of Bdrmah Mwtrh’pj' 
Products becomes president- 
elect ' * - 

* . "■ 

Mr. J. S. ML Jones and Mr. P. C! 

Nicholson have resigned as dime-, - 
tors of CRAY ELECTRONICS.'. > 
These resltmations were men^ 
tioned to shareholders in the 
offer for Crav shares made by . 
Capital For Industry following the;-- 
purchase by Capital For Industry^ 
of ihe shares of Cray tiiat were. ^ 
held by Crest Nicholson. „ _ 


BALANCE SHEET AS AT 3IST DECEMBER 1977 



International Resources 
and Finance Bank S. A. 


incorporated in Luxembourg 

(wholly owneci subsidiary ot ARAB INTERNATIONAL TRUST S.A.) 


Financial Highlights at April 30, 1978 


Luxembourg Francs 
'000 


(US $ approx.) 

•000 


Subscribed capital 
Paid-up capital 

Deposit? by Banks and others exceed 
C-ash and Due from Banks exceed 
Loans. Advances etc. exceed 
Total Assets exceed 


700.000 


20.000 


350.000 

2.500.000 

1.700.000 

800.000 

2.700.000 


10.000 

70.000 

53.000 

26.000 

86,000 


NOTES 

(1) Facilities including stand-by lines from shareholders 
amount to US $65,000,000 

(2) From August 1. 1978 the paid-up share capital will be 
increased to Lux. Frs. 700,000,000 (US $20,000,000 approx.) 


‘The bank has already extended medium term credit to 
borrowers in a number of countries in the Middle East and 
Africa and aiso to borrowers in some European and South 
American countries, in order to achieve a properly diversified 
loan portfolio. All such loans relate to important developmental 
projects. The bank is able to handle trade related financing in 
Euro and local currencies, and to arrange guarantees and 
performance bonds. On the project packaging side, we are 
conducting the appraisal of projects in a number of countries 
in the Middle East and Africa which promise substantial 
opportunities for our institution.' 


Shakirullah Durrani 

President 

on behalf of the Board of Directors. 


Luxembourg 
Head Office 
31 Grand Rue 
Luxembourg 
Telephone: 470-501 
Telex : 1814 IRFBK LU 

Cable : RESF1NBANK 


United Kingdom 
18 Finsbury Circus 
London EC2M 7BP 
Telephone: 01-638 3611 
Telex : 888162 RESFING 
Cable :RESFINBANK 


If you would like a copy of Ihe annual report for the period lo December 31st 1977 

please write to lhe Comptroller at either ot the bank's offices 


Ordinary and Extra-Ordinary Annual 
General Meeting of 10 May 1978 



1ST1TUTO BANCARIO ITALIANO 


On 10 Kay 1978 the Members' Annual General Meeting, 
presided over by Cav. Lav. Dr. Inj. Carlo Pesenti. 
approved the Balance Sheet as at 31 / i 2/ 1977 showing a 
net profit ci Lrc.4 .730.462.1 18 and authorised the distribu- 
tion of a dividend of Lit-600 per share, assigning the 
remaining Lit. 1.700m.. to reserves. 

Following its previously adopted policy the Bank was able 
to strer rthen its position on the market both by its credit 
assistance and its many qualified services in the different 
sectors of production and economy. 

TH» Bank's activities were notably extended, to the satis- 
faction of its clients. 

Total funds managed have now reached Lit.3. 1 35.000m. 
with an increase of Lit.503.030m. compared to 
Lit.2.632.0QCm. in che previous financial year. Cash invest- 
ments to Clients show, in the limits as provided by the 
credit expansion regulations, an increase of l3i.000m.Lire 
totalling Lit-1.320i300m. 

Particular attention was given to the Bank's foreign trade 
activities, achieving satisfactory results in spite of regula- 
tions limiting the activities of a number of departments. 
The issue of export permits showed an appreciable 
increase in value with respect to the previous year and 
monetary facilities increased significantly. 

In the month of June 1977 the Swift procedure was 
adopted for immediate transmission and reception of 
orders cf payment to and from abroad. 


In the Securities Sector, considering the persistence of the 
particular situation of the Shares Market, good resiihs 
have been obtained with special attention to the EOT 
and bonds seccor. 


The Bank has continued to improve both its equipment Bid 
methods of work, especially in its current accounts sector. 
In fact. 85 per cent of open accounts are now tea Irlime 
managed. 

The Extraordinary Meeting resolved to increase the Com- 
pany's Capital from Lie. 10.000m. to Lit.35.000m„ of which 
Lit. 15.000m. unpaid and Lit. 10,000 paid Increase. . . 


The Bank's Capital and Reserves will amount, upon 
termination of this operation, to Lit 84,500.000,000. 


The Board of Directors in charge consists of the following; 
President: Cav. Lav. Dr. Ing. Carlo Pesenti. Vice-Presidents: 
Dr. Carlo Aloisi and Dr. Francesco Mattei. Directors: 
Cav. Lav. Dr. Vincenzo Cazzaniga. Dr. Arrigo Gasparini, 
Aw. Marcello Giovannini, Mr. Ernesto Jaeger. Dr. big. 
Ettore Lolli. Dr. Ing. Giampiero Pesenti. Cap..' Pietro 
Ravano. Dr. Roberco . Rosso, Mse. Cav. Gr. Cr. 
Dr. Raffaele Travaglini di Santa Rica. Secretary of the Board: - 
Dr. Franco Barlassina.- Managing Director .and- General 
Manager- Dr .Arrigo Gasparini. 

The Board of Auditors remains as follows: Chairmanf 
Dr. Tito Olivari. Standing auditors: Dr. Luigi Agnes, 
Dr. Luigi Aldrigherti. Dr. Pier Giorgio Barlassina. Dr. 
Antonio BattezzaiL Substitute auditors: Dr. Giuseppe 
Apolfoni. Dr. Ettore Rossi. 


ASSETS 


LIABILITIES 


Cash in hand, coupons and other 
demand items 

AVAILABLE BALANCES WITH BANKS 


79.786.974.01 1 
624.225.47 1.775 


704/112.445.706 


CUSTOMERS’ ACCOUNTS 
— Savings deposits 
— Demand deposits 


750.189.064.368 
1.290.1 |.l .320,705 


2.040.300,385,073. 


DEPOSITS WITH CENTRAL BANK 
INVESTMENTS 
— Ordinary treasury bonds 
— Ocher Government Securities 
— Bonds 
— Shares 
— Holdings 


327.914.226.843 


230.608J34.000 

108.138.040.756 

366.476.160224 

804.799.463 

1,837.272.831 


BANKING CORRESPONDENTS 
AND BANKS: 

— Italy 
— Abroad 


743.622,679,889 
35 1.488.43 U00 


1.095J 11.111,089 


707.864,606 J74 


CREDITS TOWARDS CUSTOMERS: 
— Bills discounted 
— Currenc accounts and advances 
— Loans and other operations 
— Contangos 


169i24.707.787 
803.838 806.959 
339,043,761.021 
8.698.716.669 


1.320305.992.436 


CREDITS TOWARDS BANKS AND 
CORRESPONDENTS 
— Italy 

— Abroad 


2S.8I2.236. 149 
202,894203,441 


228.706.439350 


THIRD PARTIES FUNDS MANAGED 
DRAFTS ISSUED 

CUSTOMERS' BILLS FOR COLLECTION 
ACCOUNTS WITH BRANCH OFFICES 
SUNDRY CREDITORS 
TAX CHARGED TO THIRD PARTIES 
ACCRUALS AND REPAYMENTS 
STAFF SEVERANCE FUND 
TAX FUND 

DEPRECIATION FUNDS: 

— Premises 
— Plants 

— Equipment and furniture 


3.135,411.496.162 
343.817.45S 
39,217.132033 
103.643.752097 
17.329,838.066 
41,946,819.402 
26,621.333,104 
22.974314.141 
1 9.907.629, V20 
4,454; J 67. 945 


3.952399.063 

2.537.388.421 

2.515.140,645 


9.005328.129 


CREDITS TOWARDS CONTROLLED 
COMPANIES 

ACCOUNTS WITH BRANCH OFFICES 

TREASURY TAX CREDIT 

SUNDRY DEBTORS 

PREMISES 

PLANTS 

EQUIPMENT AND FURNITURE 
BILLS FOR COLLECTION 
STAFF SEVERANCE FUND INVESTMENT 
ACCRUALS AND REPAYMENTS 
LIABILITIES OF CUSTOMERS 
FOR ENGAGEMENTS 
— Bills rediscounted 

—Letters of credit, acceptances, 
guarantees, endorsements. 

-security deposits 

— Securities to b; received or delivered 
— Forward exchange bought and sold 


7.443714307 
14.112.866.487 
25.346.282559 
51.839.424.967 
24753 564 .684 
3.433.764.996 
3.379.688345 
54.716.760.838 
382.694.257 
23^98.865766 


CAPITAL: 

— Capital stock 
— Statutory reserve 
—Extraordinary reserve 
— Credit risk fund 
arc.66 DPR 29/9/73 no. 597 
—Taxed risk fund 
—Monetary revaluations reserve 
law no. 576 of 2/12/75 


10.000.000.000 
2.741. 177,989 
20.758,822.011 


20.900.000. 000' 

11.100.000. 000 


7.300.000.000 


72.800,000,000 


20,41 1.000.000 


573365317361 

37351369.377 

697362.164.807 


1J29.089.85I.745 


UNDISTRIBUTED PROFIT 
BROUGHT FORWARD 
PROFIT FOR THE YEAR 
LIABILITIES FOR ENGAGEMENTS: 

— Bills rediscounted 

— Letters of credit, acceptances, guarantees. 

endorsements and security deposits 
—Securities »o be received and delivered 
— Forward exchange bought and sold 


24,843313 

4730,462,118 


20.411.000.000 


573.565.317361 

37.551.369.377 

697.562.164.807 


U29.089.85l.745 


CONTINGENT ACCOUNTS: 

— Securities and assets on deposits 
— Third parties for securities deposited 
— Directors’ surety bonds 


4.827301.190330 


619.408378360 
! 90374.086383 

2.400.000 


809.785.164343 


CONTINGENT ACCOUNTS: 

■ — Depositors of securities and assets 
— Securities with third parties 
—Directors' for surety bonds 


4.827301,190330 


619,408.678.260 

190.374.086383 

2.400.000 


809.785.164^43, .. 


TOTAL 


5.637 386 J55.073 


TOTAL 


5^37386355.073, 


CAPITAL AMD RESERVES: Lit, 74,500,000,000 — REGISTERED HEAD OFFICE: 



x. .* i -- „• -•. . • • 




Times , Monday Jime 12 1978 







>y fi 

£$ 

ch St 


' EWte; .- 
janeris^-15 • 
Jd5ci4— 18 

Idler 16—17: 

JMS -2D— 23 

JnfU^iKl- :;. 


TRADE FAIRS AND EXHIBITIONS 

Title r 

Three Counties Show ■ • i e ? ue 

siS?® ries Erta Aberdeen 


This week in parliament 


Tvih&:-25— 29 
.•Idaa'-26— 28 
ii*e:R&^28 

" : 27—28 


plus 


?• 

WiSv 

IKS ,ntfci i 

&.p.sS 


a?* 

hi' 


27—29 
Jane, 37— 29 
June '28— 29 
*28—: 29. 
3ttly ; --3-i-« ... 
;Jaly--5— 1 7 ... 
■Jufy 11— 14 

jWy 12—25) 
Js> 16 — 20 
• July 21-^29 
3»ly 24—29 


Essex County Show 
Royal Highland Show 

Body Repair Industry Exbn. 
® te niational Ccmf. on Crash Repair 

Frozcn Foods Conf- and Exhn 
TS« ? / e 78 eaSUremeDt ““ COntr ° 1 ^ * Conf: 
?^«f^ Deerin Z Exhibition 
Leeds Electronics Exhibition 

Ufi!? 1 -® * nd .protection Exbn. and Coal. 

I™. ™. a ^Management Conf. and Exbn. 

Royal Norfolk Agricultural Show 

S^^^atioual Agricultural Centre 
* rt T adex , 7 ^ 7 ~Fxtn. for retail motor trade 
Annual Pharmaceutical Exhibition 
Royal Tournament 


Chelmsford 

Edinburgh 


Great. Yorkshire Agricultural Show 
Middle East Business Expo 78 ' 
Brighton Antiques Fair 


Heathrow Hotel 
Olympia 

Wembley Conf. Centre 
Wembley Conf. Centre 
Metropole Centre, Brighton 
Leeds University 
Leicester 

Dome, Sheepcote Vlly. Brgton 

New Costessey 

Kenilworth 

Bristol 

Cardiff 

Earls Court 

Harrogate 

Grosvenor House Hotel, W.i 
Corn Exchange, Brighton 


limine 


OVERSEAS TRADE FAIRS AND EXHIBITIONS 


*r, 

f. 


l,n ? niI Sa' 


“IS 


June 15— IS 
June 20—24 
3une. 24—30 
Jttne 27—30 




M -lF.TlV f 


- r >L 


rr " U97j£ 


Jpne 27 — 30 
July 2—9 .„ 


-July 4—6 , ... 
JiByllO— 14 


Solar Energy Exbn. and Congress 
international Wire Exhibition 
7 International Dairy Equipment Exbn. and Conf. 
Public Transport Systems in Urban Areas, Exbn. 

and Conference 
Offshore Brazil Exhibition 

International Kebab i) nation of the Handicapped, 
. Exbn. and Congress 

Third IdL Couf. and Exbn. on Marine Transport 
■ using Roll-on/Roll-ofC Methods 
First International South African Training and 
Education Symposium and Exhibition 


Genoa 

Basle. 

Paris 


Coteborg 
Rio de Janeiro 


Basle 

Hamburg 

Johannesburg 


his 

? teGtsip 

-! or Pninw 

r muiv Z 

Jj£. 

n **t h» tf 

•>don *”** 


BUSINESS AND MANAGEMENT CONFERENCES 


Jime’ 14 

iu'neU4=-M „.... 


iona lS 

7dndl r IS ...~ 


f. . 

>i'ARL. Hivu 

• furrier fe. 


June . 16 


->d h..: W 


»' ‘-Jvlr. 


* - ■«’>: I;-.. 


48—23 

Jane *19 

-June 19—20 ...... 

Juflir'.lP— 20 
June ^19— 20 
June 19 — 30 


M- 

• -V • lr-. 

r • i •'iaV 
m;wl. '> M.- 

■*• l?jraS.' 


■ •• 

June 20 ...i........ 

$ask_;2Q. ....Ar...... 

- Ji*fliri,20 

June- 20—21 


: "■'r. 6,-- 




Jnne-20— 22- 

• •. • ■ 

Jtme 20.^.:..; 

•. . j> - • • .- • 


. .. •••.. . 
* 1 1 "■ 
Neil! V** 


Jtone j20^-21 ...... 

- -S'-.."... 

Juris 21 ... 


Inst, of Purchasing and Supply: The Buyer, the 
Seller and the Law 

European Society for Opinion and Marketing 
Research: The Business of Advertising 
Oyez: For Senior Management— Internal Audit 
Charterhouse Japbet Financial Services: The 
. Impact of Financial Information on Shop floor 
Employees 

Oyez: . Property Development — Warehouse/Indus- 
trial Case Study 

School of Production Studies: Stress at Work 
European Study Conferences: Employee Com- 
munications 

ORC.(UK): Paying People Abroad 
Oyez: Short Term Currency Investments 
Pennsylvania University: Matrix Management 
Center for Education in International Manage- 
ment: Seminars on “Corporate Planning " and 
“ Management of Research and Development ” 
British Institute of Management: Energy 2000 
CAM Foundation: Creating New Opportunities for 
Business „ 

Oyer. Selling to Consumers, and the Law 
Maryland University: International Barter Trade 
Seminar 

National Engineering Laboratory: Int Conference 
on Computer Aided Manufacture. 

Inst of Cost and Management Accountants: 
Financial and Management Accounting for 
Non-Financial Managers 

Anthony Skinner Management: Practical Pricing 
Policies 


Grosvenor House, Wl 


Barcelona 

Portman Hotel, Wl 


Royal Garden Hotel, W8 


Hotel Inter-Continental, Wl 
Cranfleld Inst, of Tech. 


Royal Garden Hotel, W8 
Shakespeare Htt„ Strat-’-Avon 
Inn on the Park, Wl 
London Hiltou, Wl 


Geneva 

Mount Royal Hotel, Wl 


Kent House, SE1 
Royal Garden Hotel, WS 


College Park, Maryland. U.S. 
East Kilbride 


Manchester 


Jtm&JSF 

June : 22 

• •• --iiVv • ' ‘ 

June ‘22 

June 22—23 

June' 23 ; 

Juoe- , 23 

JUSB725— 30 


Henley Centre for Forecasting: Forecasts' for the 
Common Market 


Cafe Royal Wl 


JabA 36 ........ 




Agra Europe (London): Potato Futures Conference 
Centre for Interfirm Comparison: Management 
Ratios and Interfirm Comparison 
Oyez: Profit Sharing 

AMR International: Managing U.S. Operations 
Risk Research Group: Captive. Insurance Companies 
Oyez; Executive Remuneration j* 

British Transport Staff College: Industrial 
- ; Relations Cours.e • K r. . 

.European Study Conferences: Energy Conservation 
- in Distribution Operations . r ’' *£ 

■Financial Times: Scottish Finance. .and.lnttastry 
Canadian Society of Petroleum Geologists: inter- 
'’.•.'national Petroleum Geology Workshop; -' « 

. •• i *• . ' 1 ' 


Carlton Tower Hotel, SWl 
Baltic Exchange, EC3 


Parker Street, WC2 
Royal Lancaster Hotel W2 
Kensington Close Hotel, W8 
Tower Hotel El 
Intel. Press Cemre, EC4 


Woking 


Hilton Hotel Wl 
Edinburgh 


.Calgary, Alberta' 1 “ 


TODAY 

COMMONS — Debate on 
Expenditure Committee report 
on preventive medicine, and 
Government reply to it 

LORDS— Scotland Bill, report 
stage. 

SELECT COMMITTEE— Public 
Accounts. Subject: Appropria- 
tion Accounts for 1976-77. 
Witnesses: Property Services 
Agency. (5 p.ra., Room 16). 


TOMORROW 


COMMONS— Remaining stages 
of the State Immunity Bill 
(Lords) and of the Community 
Services by Offenders (Scotland) 
Bill Proceedings on the Tuvalu 
Bill (Lords) and on the Export 
Guarantees and Overseas Invest- 
ment Bill (Lords), and on the 
Oaths BiU (Lords). Motion on 
EEC documents on non-life 
assurance. 

LORDS — Films Rill (Lords). 
Third Reading. Scotland Bill, 
report stage. Independent Broad- 
casting Authority Bill. (Second 
Readme). 

SELECT COMMITTEES — 
Joint Committee on Statutory 
Instruments (4.15 p.m. Room 4). 
Overseas Development. Subject: 
Renegotiation of the Lome Con- 
vention. Witness. Dr. David 
Owen, the Foreign Secretary. 
(430 pm. room 6). 


WEDNESDAY 

COMMONS — Debate on 


Opposition motion on the 
economy. 

LORDS — Internationally Pro- 
tected Persons Bill (Third 
Reading)-. Wales Bill, committee 
stage. Rating (Disabled Persons) 
Bill (Second Reading). Local 
Government (Amendment) Bill 
(Second Reading). 

SELECT COMMITTEES — 
Expenditure, Trade and In- 
dustry Sub-committee. Subject : 
Measures to prevent collisions 
and strand in es of noxious cargo 
carriers in waters around the 
UK. Witnesses: Oil Companies 
International Marine Forum, 
International Chamber of Ship- 
ping (1090 a.m. Room 16). 
Nationalised industries. Sub- 
committee ”B.” Subject : Future 
of the electricity supply industry. 
Witness. Mr. David PeobaJigon, 
MP. (10.45 a.m. Room 8». 

Unopposed Private Bill Corami l- 
tee on the Tamar Bridge Bill 
(4 pjn. Room 9). Expenditure. 
Social Services and Employment 
Subcommittee. Subject : Em- 
ployment and Training. Wit- 
nesses. The Treasury. Dept. oF 
Employment. Manpower Services 
C.omrasn. (4 p.m. Room 15). 
Public Accounts. Subject : Appro- 
priation Aecounrs 1976-77. Wit- 
Desses: Dept, of the Environ- 
ment, Her Majesty’s Stationerv 
Office (4 P-m. Rnnm 16). Joint 
Committee on Consolidation etc. 
Bills. Further consideration of 
the statute Law (Repeals) Bill 
(Lords) (4.30 p.m. Room 4i. Par- 
liamentary Commissioner for 


Administration (Ombudsman). 
Subject : Parliamentary Com- 
missioner for Administration 
(Review of Access and Adminis- 
tration). Witness : Sir Alan 
Marre. Commissioner for Local 
Administration in England (5 
p.ra. Room 7;. 


THURSDAY 
COMMONS— Debate on Fish- 
ing until about 7 p.ra.. followed 
by a debate on the Official 
Secrets Act. 

LORDS — Wales Bill, com- 
mittee stage. Co-operative 
Development Agency Bill 
(report). 


FRIDAY 


COMMONS— Debate on reports 
from the Select Committee on 
Violence in the Family, and on 
the Government’s reply. 

LORDS — Inner Urban Areas 
Bill (Committee). Nuclear Safe- 
guards and Electricity (Finance) 
Bill (Second Reading). Motions 
to Approve Consular Relations 

(Privileges and Immunities) 
(Polish People’s Republic Order 
1978). Supplementary Benefits 
(Determination of Require 
meals) Regulations 1978. Child 
Benefit and Social Security 
(Fixing and Adjustment 
Rates) Amendment Regulations 
1978. and Social Security Benefits 
Up-rating Order 1978. Debate on 
international airport on Severn- 
side as an alternative to expan 
sion of London airports. 


Th* U* cf Appflcatitm yrflt aeefi «k tt »-m. on Wednesday. Mth J*w. Ml* , 
OtH Mt toy «n*e dxroofier on the same day. 


Thit issue is mode m nffonbiaa' wih a i.,'eni:rat Consrni -jiiun bit the Treasury 
under the Control o\ Borroirirra Order, )?*£• 


AK»tc3ttoB bu bern rr.jde to the Council of The stncjc Exc&uim for a* Stock 
he i ns issued io be Admired to the Official Ltsi 


METROPOLITAN BOROUGH OF 
SOUTH TYNESIDE 


ISSUE OF 

£7,000,000 Metropolitan Borough of South Tyneside 
12£ per cent Redeemable Stock 19S6 


PRICE OF ISSUE £99 PER CENT 
Payable as follows: 

On Application £10 per cent 

On 19th July, 1978 £40 per cent 

On 23rd August, 1978 ... £49 per cent 


£99 ner cent 


INTEREST (LESS INCOME TAX) WILL BE PAYABLE HALF- 
YEARLY ON 31st MAY AND 301h NOVEMBER 
A FIRST INTEREST PAYMENT OF £4.0345 (LESS INCOME TAX) 
PER £100 STOCK WILL BE MADE ON 30th NOVEMBER, 1978. 


4u(honsrd by the Oun eii ot the Metropoliinn Bnrmujh of South Tumrode and issued 
m accordance tnlh Uic Local I'nt'fnnui.’ni .act 1972 end the Loral Anthontv fSlOCfei 
and Bonds/ Bevubxuons IKV. 


The Stuck is an (nci-amii-nl lalbnO trithrn Pari II nl ike First Schedule to the Trustee 
Investments Act. j«x«J. 


This advertisement is issued in compliance with the requirements of 
the Council of The Stock Exchange. It does not constitute an invitation 
to any person to subscribe for or purchase any Preference Shares. 


I. J. DEWHIRST HOLDINGS 
LIMITED 

(Incorporated in England under the Companies Act 1948) 


Issue of 503,393 9.75 per cent 
Cumulative Preference Shares 
of £1 each 


The Council of The Stock Exchange has admitted the above- 
mentioned Preference Shares to the Official List. Particulars of the 
rights attaching to them are available in the Extel Statistical Service 
and copies of the statistical card may be obtained during business 
hours on any weekday (Saturdays excepted) up to and including 
23rd June, 1978 from:— 


Cazenove & Co., 

12 Tokenhouse Yard, 
London EC2R 7AN 


12th June, 1978 


ic ' 




. r- ■■ 





.. -it :• s'- 


World Airways, Inc. 


LVA% Equipment Trust Certificates Due April 15, 1994 


Hie Equipment Trust Gertificates are being issued to -finance approximately 59.5 % (but not 
ixiore than 61%) of thepurcihase price of three new McDonnell Douglas DC-10-30CF aircraft. 


■; ' v 


-V 


Memfl Lyncb "White Weld Capital Markets Group 

' : V bfocriU Lynch, Pisaxt, Resatr & Small Incorporated 


-.--■v/l 


laoatjwratad 

irnSain] 

-t ' lnc©*p«ated 


Blyth Eastman Dillon SC Co. 

I«otpajraw4 


Dillon, Read SC Co. Inc. 


Kidder, Peabody & Co. 

Incorporated 




Paine, Webber, Jackson 8C Curtis 

Incorporated 


Salomon Brothers 
Bear, Steams SC Co. 




Warburg Paribas Becker 

Incorporated 


The Hrst Boston Corporation 

Golddan, Sachs 8C Co. B. F. Hutton SC Company Inc 

Loeb Rhoades, Homblower Sc Co. 

Wertheim SC Co., Inc. Dean Witter Reynolds Inc. 

Shearson Hayden Stone Inc. 

Thomson McKinnon Securities Inc. 

William Blair Sc Company Pain, Kalman SC Quail Eppler, Guerin SC Turner, Inc. 

• Incorporated 

ladenbur* Thalmann 8C Co. Inc. - ' McDonald & Company Moseley, Hallgarten & Estabrook Inc. 

. Nomiica Securities Intecnational, Inc. Oppenbeimer & Co. Inc. Piper, Jaff^yKHopwood Prescott, Ball K Turben 

1 & Rbl^son-Huniphrey Company, Inc. RotanMoslelnc Stuart Brothers Tucker, Anthony K R. L. Day, Inc. 


Weeden Sc Co. 

Incorporated 


Bateman Bchler, Hill Richards 

*• . Incotpfflslwl - ' • 







NailoDal ivcstmmsi.-r Bank Limited Is authoris'd by resolonon of me Covncfl 
the Meiropoiuan n .roush of South TVncsiilo io receive appilrsTlons for the 
Above amount ot Sio-.-i- at Use New l-itul Di-panmonl. P.O. Box T9, Drapers CaideiB, 
U Throcmonon Atvnu.-. London ECJP TED. 


1. SECURITY — TTii- ST ode and mienesi tboreon "u-ill bo cecurvd noon atl the 
revenues ot Uu- Oiuncil. The Stock ulll rank pan passu with all other securities 
i&su-tl or Tii be istiiied t>- the Council. 

2. PROVISION FOR REPAYMENT OF LOANS.— The Council is rcuoired by 
Acl* ot Parluni'-ni to nuke appropriate prom tun towards redemption ot loans 
raised lor caplial i.snendnun* and io make such reiurns m eonatctlou ihcreu-lih 
as nay bo required by ihp Secretary of State lor the Ennronmem. 

i- PURPOSE OF ISSUE. — The riot proceeds ot Use prr-iont i«ue of Slock win 
be applied to repLie-.- nuturuu: debt and to finance authorised capital expenditure. 

4. REDEMPTION op STOCK— The Stock wilt be red-.-eoiinl ai par on 
31 sr klay. 19^6 unl. ^ previously cancelled by purchase in me open market or by 
asreemem with, the hi'l-l rs. 

5. REGISTRATION.— Hie Stock when fully paid will be replsicrcd and 

transferable free ul tlnme .In amounts and raulitples of one penny by Instranept 
In vent me m aceordaiiee with the Snv.k Transfer Act iftil at Co-operative Bank 
Limned. P.O. Box IAN. Blandford Sired. Ncwcasuv upon Tyne LAN. 

6. INTEREST. — im -reffl Hess income taxi Hill be paid half-y. arly on list May 
and 30 Ih Kovi-mbi-r r> warrant whleh will be si ni by pom at the Siwk holder's mk. 
la the case of a Joint account, the warrant will be furu-arded to the percon first 
named in tbe aeeoun: unless insiruruons to ibe contrary are r-ivvn in uniitU! 

The first payttt.-nt per £100 Stock of £4.(LTtS ilcss Income tax) will be mada 
On 31hh November, yr, by warrant in the usual way. 

T. APPLICATION AND GENERAL ARRANGEMENTS. — Applications which must 
be on the prescribed terms sod must be jccumpjru.-d by a d>pn:ii ot Do p>t rent. 
of ibe nominal amoun: applied for will he received at National Westminster Bank 
Limited. New Issues Deparunenl, P.O. Box 79. Drapers Gardens, 11 ’ Throk-raortna 
Avenue. London EC.'P ,TD. 

AppOcptions must be for a minimum of £100 Smctc or In multiples of E100 for 
applications up to ELKO Stock. 

Larger applications must be made In accordance with the following scale: — 

Applications above £1,000 Stack and not exceeding E5.DOO Stock In multiples 
oT 1500. 

Applications above £5,000 Stack and not exceeding £20,000 Slock (a multlplco 
of EL 000. 

Applications above £20.008 Slock lit multiples of £5JM9. 

A separate cheque drawn on a bank In and payable in the United Kingdom must 
accompany each application form. No application will be considered unless this 
condition is rultRlcd. 

In the event of partial allotment, the surplus from the amount paid as deposit 
will be refunded io the applicant by cheque. If do allotment is made, ihe deposit 
Will be returned in full. No allotment will be made for Iw than nno of Stock. 

National Westminster Bank Limited reserves the ncht to return surplus application 
moneys by means ot s cheque drawn on a counter branch of National Westminster 
Bank Limited io any applicant whose application was nni supnormrl by a Banker's 
Draft or by a cheaoc drawn on a Town Cleannc Branch ot a Dank in ibe City of 
London. 

Payment in full may be made at any time afier allotment, but no discount 
will be allowed. 

Default In the payment of any instalment by in dne date win render al - 
previous payments liable to forfeiture and ibe allotment to cancellation. 

Each applicant io whom ao allotment of Slock is made will be sent a 
reoonnceable Letter of Allotment, which must be produced when instalment payments 
arc made. Leiien of Allotment which may be spilt up io n p.m. on fith September. 
1978 wtU contain forms of renunciation which will be available up to 3 p.m. on 
8th September. 1978. On payment of ihe instalments due on I9th July. 1978 and 
on 23rd A amis t. 1978 the Letter or Allotment will be receipted and returned to the 
sender. K’hen payment in tall « made, die Loiter of Allorm«*nt will be recetoied 
and returned to the s.-odcr unless the rccisiraKon application form has been 
completed. In wbteb case pages 1 and i only of the Letter will be returned to the - 
sender. 

Partly paid Letters of Allotment may be split In multiples of £100 Stock, but _ 
fully paid Letters of Allotment may be spilt down to multiple* of one penny of 
Stock. No Letters of Allotment will be split unless all instalments then due have 
been paid. There will ba no charge for milling Letters of Allotment. 

The Slock Cemficalo will be despa iched by ordinary post ai llu- risk of thw . 
Stockholder withnm fnriher reonr-sr on 6ih October. 197s in the first-named reclsiered 1 
holder at his- her registered address. If ber.v-.-n Kih V-pt-morr U» and Mih.t 
S eptember. 197S the Letter of Alim mem is Indued at Co-operative Bank Limited,--, 
P.P. Box L\N, Blandfer-J Siren Newcastle upon Tyne NEW LIN with ihe lodranff' 
■RMfii's name and address invent'd in the space provided ai the fool of par* 1 . . 
ihe Stock C'ntficaie wit be despatched in the todeiny te-nl on «rb October. 1978./- 
Letters of Allotment will cease to be valid after 6ib oetober, I9rs. 

A commission of 12 ' d per £100 Stock ulll be allowed to recognised bankers 
and stockbrokers on alloimenis made in respect of applications bearing their stamp 
and Value Added Tax tvdsiration number, if applicable: this commission will not."-- 
however. be paid ip respect of an ailonncui which arises out of an nuderwrlbnc .-. 
commirmont. " 

8. STATISTICS. — 8 Ha mg to the Metro pollian Borauch of South Tyneside:— 

Population : - 188.500 -. 

Rateable Value SlSJSB.UUf 

fat »st April. 19781 .-. 

Product of > Penny Rate £148.790 ; 

fExclodtau Rate Support Grant Resources Element!-^ 

Rate in the £ NIP- 

Total Rate Product E7.5fi7.14S, 

tlneludmc Rate Support Grant Resources Element 03.829.7*5) . - 


Net Loan Debt:— 

I a ■ for Connell purposes - 020.477.150-^ 

ibi for transferred services a 172.643 * 

9. PROSPECTUSES— Prospectuses and Application Forms may be obtained.' -■ 
from:— 

NATIONAL WESTMINSTER BANK LIMITED. New Issues Department. P.O. Box- 
79. Drapers Gardens 12 Tbrcrcmorion Avenue. Loudon EC2P 2BD and any of 
tbe principal braorhes of thai P-ank. ' — 

CO-OPERATIVE BANK LIMITED, branches in Durham. Newcastle upon Tym. - 
and Sundcriaod. ___ ' * 

DE ZOETE a REVAN. 25 Finsbury Circus. London EC2M TEE and THE STOCK 
EXCRaNGB. 

DIRECTOR OF FIHARCE, Town HaZL South Shields. NE.1.7 2NL. , 

By Order of the Council. 

Town Hall. F. THOMPSON. £- 

SrrtJlh Shields, '.Thief ExCCUttpO- * 

NE5! 2RL. J. H. HEDLEY. 

Sth June. 197S. Director of Finance.'. ’ . 


The List of Applications will open at 10 n-m. on Wednesday. 11th June, 197B and 

will closa at any time there afte r on ihe same day. r 


APPLICATION FORM for 

METROPOLITAN BOROUGH OF 


SOUTH TYNESIDE 
12} per cent Redeemable Stock 1986 
Issue ot £7,000.000 Stock at £99 per cent 


To: NATIONAL WESTMINSTER BANK LC4ITED. 

New J&nies Department. P.O. Bos 79. Drapers Gardens. 12 Throgmorton Avenue, 
London EC1P 1BD. 


1/We hereby apply for 


*£ 




pounds* of Mctr-spolitan Porrmnh 

or South Tyneside 121 per cent. Redeemable Slock 1988 according to the conditions 
cobiaim-d In ibe Prospectus dJicd 9th June. 19>S and undertake ia accept the same 
or ari> less amount that mar b'- a Honed to metis and to par for Lbe same io 
conformity wiih ihe terms ol the fo.d Prospccius I Wo request that any Letter 
of A /torment in respect or Stock ullonr-d to m r. us he sent to mc ’us by post at 
my our risk to the first written address and that such Slock be red si ere d m my /our 
name si. 

I-TVe enclose ihe required deposit ol ! belwt £10 per cent 

on ibe namlnal amount applied fur. and warrant that the cheuue attached hereto 
will b«.' honoured on flirt present a (ion and surec that any aUniment ot Stoat is 
made sirteily cm this ttndcrsiandinc. , .. .. _ . „ 

tr We declare that 1 am not no one of os Is resident oaiside the Scheduled 
TerrUonvi* within the mea nine of the Evchance Control Act 1947. and that 1/wo 
shall noi be acquinns the Stock on behah of or as nomlneeisi of any persouts) 
resident outside those Territories. 


1978. 

Please use Block Letters 


SIGNATURE 


— Cl) 


First Marne'S) fin toll) - 


Surname and deuttmation — 

• Mr . Mrs . Miss or TIUci 

Address . 

■ in full including postal code* 


■ The spaces below are for use in the care of loiot applications! 

Simatnre 


Please use Block Letters 

iret Nnmcn' m full 

surname and Pcsimnffon 

Mr . Mm.. Miss or Tide) 

Address m full 


m 


Please use Black Letters 
Ftr« .Vumcisi m full .... 

.Surname and DesumaHon 
Mr . Mrs.. Miss or Title) 

Address in tail 


SitmatmT . — ......... 


...C3) 


it AupftcatfoiK must be for a minimum of QW Stock or In malllpJes rhenxt op to 
□JBO Stock. 

Large i- applications must be made in accordance with Ihe following scale:— 
Application* above £1.000 Stock and noi preceding £5,000 Stock In multiples of £500. 
Appllcailoiu above £ 5,000 stock and »« e*teedmg LSJiOO Stoefc in multiples or ELOOO. 
Application! above £9,000 Slock in multiples of £5-0W. . 

t If This declaration fannoi Ik made, it should be defeted and rrterew* Nmtdd 
be made lo an AulbariM-d Dppnsiian' ur - |n ,hc Hrpuhhc of Ireland, an Approved 
A coni, Ibrvurih whom lodsni.-m riionld be i-ffccu-d. Authorised D./poaMarles are 
lusted in t I k* Rank 0 1 Enriand's Not ice E 1- and Include mu.H Banks and yrockflrofcery 
In and solicii ur& oraciiMnw In thr Uml-’il Kincdam. ih- Channel Islands or the 
Isle of Man. Approved Atenis in tltt Rcnuhlit- of Ireland are defined In the Bank 
nl Enciaid's TJo'Iui- EC 10. . JH1 . . _ , 

•The ■S h.-duh-d Tumrorts .if or- - 5 '-n> ronjnnre: ihr limnd Kingdom, the Channel 
Islands. ih<- Isle r.l Man. the F;i-n'ihll" nf Ireland and Gibraltar. 

SEPARATE CHEO'JE DPAWN ON A BANK IN AND PAYABLE IN THE 
UNITED KINGDOM fcUST ACCOMPANY EACH APPLICATION FORM. 

HO APPLICATION WILL BE CONSIDERED UNLESS THIS CONDITION IS 

FULFILLED. 

This Form should b» filieu U n and s-’ni to:— 

NATIONAL WESTMINSTER BANK LIMITED. New Issues Department. P.O. 
Bnv m. Drapers Gartens. {2 Thmannrton Avenue. London EC 2 P 2BD. wilh a cheque 
payable to hfahnnal Wesnninsr. r Bank Limited for Ihe amount Of lbe deposit 
Cbrqui-s imin he cross'-^ - snuih Tyneside L".tn. ‘ 

No rerript »nll b-- isRur-d fr.r oaymrnt r.n ihis .ipphcaiiQd nut an aeknowiMBment 
will be forwarded by dwi in due course, eliher by Letter of Allotment, ot br 
return of deposit 





Z jgui & sSc jE J l l ,»!■ , 


I 

G 

i 

1 

i 




32 


OVERSE AS M ARK El S 


INTERNATIONAL BONDS 


BY FRANCIS GH1LES 


Cautious investors shift to convertibles 


MOST OF the activity in the 
dollar sector of the market last 
week was professional, and 
prices moved up or down in what 
was often very thin trading. 
Earlier In the week rbe fear of 
further rises in interest rates by 
and large disappeared, the much 
larger than expected rise in the 
U.5. money supply figures last 
week led some to argue that the 
rise might not yet nave peaked 
out. 

Caution remains the keynote of 
investors* attitudes and is well 
reflected in their preferences: 
shorter term paper, convertibles 
and floating rate notes. 

The two convertibles announ- 
ced last week both have their 
particular attraction. The con- 
vertible for ASICS is the first 
for a Japanese company in this 
sector of the market since last 
autumn. The strong perform- 
ance of the Tokyo Stock 
Exchange, and the link with the 
Yen quite apart from the quality 
of the borrower are reportedly 
proving strong enough to tempt 
even cautious investors. 

The Baker convertible. Is also 
said to be meeting with an 
enthusiastic reception, particu- 
larly because of the strong per- 
formance of U.S. share prices. 

The indicated terms for the 
straight issue for Quebec Hydro 
seemed to be in line with the 
market, dealers said, though not 
on the eenerous side. 

The Fuji Bank will make a 
further issue of $20m worth of 


certificates of deposit, a week 
after having announced an issue 
of similar size. This second 
issue, like the first one. carries 
a three-year maturity. 

In the Deutsche Mark sector, 
the main feature of the week 
was the decision to reopen the 
new issue market, which had 
been closed since May 12. The 
Capital Markets Sub-Committee 
decided that the volume of new 
bonds to be floated between June 
20 and July 12 would be 
DM 330m, a figure which repre- 
sents less than a third of the 
monthly average of new issues 
in the year before the market 
was closed. 

As bad been .agreed last 
month, the terms of any indi- 
vidual issue will have to be 
approved by members of the 
Sub-Committee one day before 
the issue is brought out. 

The market reacted well but 
observers will wait with interest 
for the indicated terms of the 
first issue. DM 100m for Kobe 
City, on June 20. 


Indeed the closing of the 
market was the result of a series 
of mispricings, especially where 
bonds for “exotic'’ borrowers 
were concerned, and the result- 
ing weakness of the secondary 
market. The borrowers scheduled 
to float bonds after June 20 are 
Ricoh Company or Japan. Austria 
and N urges Kommunalbank. A 
key factor' will be how prices 
will move between now and 
June 20. 

Not only do investors not have, 
at least for the present, any pros- 
pect of a rising currency, but 
yields on comparable domestic 
issues are' higher.' The 
announcement of a DM 750m 
domestic loan for German Rail- 
ways on Friday (the coupon is 
6 per cent for ten years and the 
issue is priced at 99. to yield 6.14 
per cent) underlines the point, 
though it did not dampen the 
market Many recent Deutsche 
Mark issues are currently being 
traded at prices' which result in 
yields of below 6 per cent This 
suggests that a readjustment 


might take place in the secondary borrowers seem unikely at the be found in the great ease with 
prices of a number of outstand-. moment, though a' flood was pre- which money can be raised at 
ing Euro-DM bonds. dieted after the elections last present in the doniestic mar* 

Any further bonds for French March. The main reasons are to ket 


■KIND TRADE INDEX AND YIELD 

197* 

4«rS Jttna 2 High lm 

MJ4 7.99 99.19 IN 99JM <X9/4> WAS (16/2) 

9333 LM 32.99 KM 9437 (19/4) 92.99 0/6) 


Medfitn term 
Long term 


E lirwJaar 
Cede! .... 


EUROBOND TURNOVER 
( nominal valee h Sm> 
U-S. dollar bo ml* 
last week previous week 
V96A UU.9 

L0S&4 US-9 


Other bonds 
test week previen 
BS2 ’ 292.4 


CURRENT INTERNATIONAL BOND ISSUES 

Borrowerx 

Amount 

m. 

Maturity 

Av.fife 
. years ' 

Ou^ian 

Price 

Lead manager 

. Offer 
yield 
. % 

LLS. DOLLARS 








tt§ Ito-Yokado 

SO 

1993 

. 

• 

• 

Goldman Sachs 

•m. 

ttlto-Yokado 

20 

1983 

5 

• 


Goldman Sachs 

■ * 

ftCCCE (g'teed France) 

75 

- 1998 

■ 13 

* 

e 

Dillon Re»d 

- m 

jt Arab Int. Bank 

30 

1983. 

5 

■ «*!i 

100 

UBAF 

. 4^1 

r*Ecsc 

50 

1987 

.9. 


993 

Bapca Comm, ftaliana 

8J9 

{••Norske Industribk. 






• • • 


(g'teed Norway) 

22 

1985 

7 


100 

UBS (Securities) 

BJS 

tSonatrach (g’teed 








Banque Ale. Dev.) 

112 

1992 

IL2. 

101 

100 

Credit Lyonnais 

10-25 

§ ASICS Corp- 

15 

1993 

— 

*1 

' * 

Yamalchi hit, CSWW 


fBaker lnt. Fin. NV 

30 

1993 , 

• 

Si 

100 

-Biyth Eastman DiBon, 








Goldman, Sachs. Warburg SS 

Hydro Quebec 

50 

1993 

I 

H 

■ -.• 

S-G. Warburg, CSWW 

- * 

GUILDERS 








}**New Zealand 

75 

1984 

6. . 

*3 

100 

AmRo 

6J5 

SWISS FRANCS 








Oy Nokia 

20 

1990 

na. - 

5 

100 

Banque Scandlnave 





- 



en Suisse 

5.0 

tfCI 

100 

1993. 

n.2. 

41 

100 

UBS 

•os 

J§Canon Inc. 

100 . 

1983 

— 

31 

100 

Sums Bank C017L, Fuji 








(Schweiz) 

3J7S 

SAUDI RYALS 






. 


BNDE (g’teed Morocco) 

200 

1983 

5 

81 

100 

UBAF 

A 125 

UNITS OF* ACCOUNT 








Soc. de Dev. Regional 

22 

1993- 

10.5 

- 7 

* 

Banque de Paris «t det 


(g'teed France) 






. Payy-Bas 



• Not rtt priced, t Final Term* •■.Placement, t Rratinj rate note, fl 
ft RestOcreO *rkb Ui Securities end Groton,# Carajtolon. 9 
Notes Yield* on caknloeed on A1RD boo 


NMmnn 
Perth*** hmd 


§ Convertible 


Financial Tunes ; Monday jane 12: 1973 


Investment appeal 



THE Finance Secretary of the 
Philippines, Mr. Ceasar Virata, 
says his country wants to. con- 
tinue to lessen its dependence on 
business ties with the - U.S- and 
Japan. AP Dow Jones reports 
from Manila. '■ 

Addressing the new .European 
Chamber- of -Commerce of the 
Philippines. Mr. Virata .'said his 
Countiy had learned how to use 
export credit of the type offered 
public Institutions' in Europe. 
He said the Philippines usually 
had a European consortium each 
time it raised funds for a major 
.project, making sure there was 
La European tranche.. Along, with 
the two D-Mark-denoininated 
bond issues already raised' in 
West Germany, the Philippines' 
has “ been considering” a note 
issue m the Netherlands and. . a 
bond issue' in Switzerland, he 
said, and added that tax treaties 
were being negotiated with a 
number of European countries. 
These included Finland, Sweden 
and Romania. 

' Mr Viraia said trade between 
the Philippines • and Europe 
reached also $l.2bn last year, 
compared with $1.9bn with the 
UH. and S 1.7b a with Japan. 

The president of the Chamber, 
Derek Harrison, said the Philip- 
pines bad a 1977 surplus of 
$106m in trade with Europe last 
year, which consisted of 5636m 


MANILA, June 1L- 

!a Philippine exports and $530m 
in imports. 

** Ardent and repetitious” 
criticisms of foreign investors 
did not help the business climate. 
Mr. Harrison said, and might ex- 
plain in part why new foreign 
investments registered with the 
Philippines Board of investments 
last year declined to S46m from 
SS4m tile year before. 

Multinational corporations, 
especially pharmaceutical com- 
panies have come under more 
than usual criticism here in a 
recent controversy aver a new 
Philippine law that reduces pro- 
tection for their patents. Many 
foreign - businessmen were 
angered last month when a 
Philippine delegation compared 
multinationals to criminals in a 
paper submitted to a United 
Nations meeting in Manila on 
crime prevention, 

A “major fear” of foreign 
businessmen. Mr. Harrison 
added, was the “ destabilisation " 
of government incentives under 
which they planned their invest- 
ments, and the imposition of 
“restrictions not existing at the 
time the Investment was made.'* 

His reference to “destabilisa- 
tion ” applied to a surprise 
decree by President Marcos in 
April which sharply reduced tax 
exemptions formerly given to 
some foreign investors. 


la 

ol 

ai 


re 

se 


Indices 


N.Y.S.8. ALL COMMON 


Rises and p aIIs 

p June 9 | June 8 ! June 7 


NEW YORK-dow jokes 


a i i 

June I June j June 
9 8 7 


June 

6 


] nominal ... 
H'roe Bn’d* 
Transport.... 

t! untie* 

Trading val. 

axr«r 


853.25 862.031 861.32 866.51 
87.56 87-73 j 87.85 87.81 
230.72 251.501 231.30 251.8&) 
106 M 107. 10| 106-34 lOB-Bfi) 


52,470 33.380 55.08(1 


June 

6 


883.83 

B8.B6 

22335 

108.38 

58.680 


Jnne 


“ 1573 “ 


High 


Bari * iH Index t-lumge-l trana August 24 



pjlnae compile! -n 


June 

9 

Juop 

1 8 



| 187? 

7 

h 1 

(Utah 

1/3W 

66.0a: 

] 

68.20, 

1 

56.1 Ij 


1 58.23 ' 
(8^ 

«.sf 

(8»4) 


low I High 


742.12 

128/2) 

873 

(0/6) 

1*01 

(9/1) 

I02J14 

(22/2) 


1061. 7ffl 41.22 


(UjbTJ) 


273.88 

(7/2/60) 

103.32 

(20/4/60) 


Inara traded.., 

Hire# 

Fed* 

Un-hHruteri ... 

Net* Utah*.... 

New Low* — 




L09SV 1.912 i 1.924 
877 7*6 

600 801 
439 ! 397 

185 98 

17 . 38 


68$ 

739 

473 


Luv* 


U05TBEAX. 


afiisa 




• June X 

| May b6 [ 

Ma.v IB 



| 5.60 

1 559 

6.48 

! 4.81 


| Jnne 
1 9 


Pre- 

vious 


1978 

Blah 


STANDARD AND POORS 


: ; 1 

; June ! June < June 
| 8 ! 8 , 7 

t 

June! 

h | 

June 

b ; 


i R 

578 

(time** Co 

mpilat'u 

2 

Hub 

Low 

tilth 

Ijowr 

1 1 mliis trtai"j 110.52 110.87 1 18.75! 
{Compooite j 93.33 I00JI IflO.ISj 

'H 

I 100.32 

110.03 

89.36 

lDM.,t 

93.14 

1 

11 '.#8 
(•.«l 
1-10.32 
(8181 J 

a6.62 

tGtSl 

<6rf) 

1*4. *4 
(11/1/73) 
125.46 
h 1/1/73) 

0-62 

(30A-/32) 

, 4.48 
(1/6/32) 


96.82 ‘ 101.16 
, < W6) 
96.18 1 96.13 

1 I (91) 

! 70J 713 


Ind. div. vlewl % 

June 7 

| 6Uy 31 

M«v 17 

Trar igo fxpprot.' 

4.86 

| D.01 

4.86 

4.63 

1n*L P/B K#tio 

9.61 

V.29 

9.55 

10.01 

LoagU>iVt. Bond vied | 6.45 | 

fl.bl 

8.42 

7.66 


Anacraliarik 4f6 06 1 494 A0 1 aciLOb 

Belgium flJ 96.68 

Deumrk <**>86.87 

France (tl| 70 4 

Germanym}| 

Holland df)j 67.0 

Hnno- Kong, 617.04 
(W 

Italy 


79L6 


j *>.« 
6C/638 


dli: ts.44 6aaa 


Japan (n). 41LU7 
Singapore 3LL89 


rfU. 1 
(l»i*) 
7.0 
9 ■ 

617.04 
9n» 

, 0M» 

41L04 1 4W.11 
I (1W4) 
310.77 1 3 Ip .233 

(W> 


1976 

Low 


44 H9 

(2 34» 
94.00 
( 6 / 2 ) 
47 J6 

(3<2 

730.4 

(11-6) 

7 A0 
(4/4) 
383.44 
, (13.1/ 
3046 

I (10/1) 

• Sb*JH 
: (4/ioi 
acj3 
i U/61 






1971- 

Low 

Spain (4) 

104 SS 

104.65 

UU./c 

tlJ» 

(17/3) 

Sweden <c> 

— 

367-66 

397. * 

SKj.7 A 
(3.1) 

Switeerl'dif 

282.7 

BR3 

323./ 

1 1* 2> 

;7SJ) 

l2?4) 


Indices and base dales (ah uu- values 
M0 except NYSE All Common - 5* 
Standards and Poors — 10 and rnrerao 
SOO-l.MOr the usr named based an i9fS*. 
tSxcImHng bonds t *06 Induonals 
5 400 Inds.. 40 Utihues. 40 Finance and 
S> Transport. f|i Sydney All Ord 
(In Belgian SE SI/12/81. (**> Copenbaxen 
SE 1/1/73 in) Paris Bourse 1961 
Cooirpenbank Dec. 1953 (!>I Amsrer 
dam. Industrial 1979. (SI) Han* Sene 
Bank 31/7/04. MW> Milan 2/1 /TS ms Tokyo 
New SE 4/1/88. <b) Straits Tran* IKS 
Id Closed. (4) Madrid SE 30ri2/77 
(C) Stockholm TndnsrrUl 1/1/58 (/(Swiss 
Bank Carp mi Unavailable. 


GERMANY ♦ 


Jnne 9 


I Price f+ or IDIr. 
? I ~ I * 


rid. 

*■ 


\Wi. 


J. 


84Jl-X.ll — — 

473.0— 1 ! 20 1-9 

242-4—0.0 .28.0ff 5.8 
140^1—0.1 ; 18.781 6.7 
. MOJj+O.4 18.75! 6.7 

Bayer. ;B76.8**+0.3 1 28.12, 8.1 

o-tyei.ierein-biJ 311x2 + 1 IB | 2.B 
UtMlni. Ned. writ- 16S +1 ] — 

JoauDcndhuut 221sc+0.2> 17 ! 7.7 

Loot tkirami ■ 75.6' + 0.4 

305, 

807. 

156. 


A >waz Ven^cb— i 
BMW. 
ivAaf 
tuyer. 


uaimler 

UCRUM 



Demag _ 

Deutsche ban* 297.5 

Uiewtnet Hank 238. im + 

UyclerboC Zorit J 166 +7 

Quteboffnnne.^J- 198.0! + L 

116 7+1 
894.0! 

131.9M; -0.1 




EB. 12] 

17 

14 

28.121 

28.125 

9.581 

12 

12 

9 

18.75 

4 


4.6 

3.3 
4JI 

4.7 
5.9 
8 A 

3.0 

6.2 

3.1 

7.1 

4.4 


9A« 3.4 
U 

315^+1.0 H.44 < 3.7 

219 ■ IB-72* 4-3 

95Jil— 1JI ■ — : - 
177 J.' — 0.5 18.76 0.3 
93.d ; — ! - 

Uml* ;J 243 — L5 . 16 ' 3A 

Uiwetiiirau IGU 1,450 85 ■ OA 

Uitiban/a I lllA— U 9J6 4.2 


■lA.N . 


tUnne - 

Ueta'ise — - 

Uunchenei Hue* 
->ectMsnn»Du__ 
rtvti- as UU KXU 
■OieinWe-tJk/eciJ 

luutringi I 

•emen _i_ _....: 

tisi Zock+t [ 

fiiy-en A4i j 

• aria 

' hdA_ J 

temn-AWe-i Bk 
V.Hk-waveii 1 


.UI 6.4 

O 2.3 
,8 1.7 


186.5 + 1.0 | 12 

167.5— 0^:17.11 

224.8 + 3.8 | 10 
535 — | 18 

127.5 | — — 

188 i — 0.2 I 25 6.7 
265 ' — 0.5 129.12 5^ 
285 .-4X7 1 16 2.S 
241 :-l '2836; 5.5 

118 —0.1 1 17.18' 1J5 
172J-0.5] 1414.1 

107.5 +0.3 I 18 I 5.5 
290*4 + 1 1 18 I 3.1 

211.6 - 0.3 i 26 ! GX) 


NEW YORK 


1978 

Hi/jh | Low- 


Stock 


35ls 

24b, 

4 Jfl 
30ia 
50 
29lj 
48 
201, 
20b, 
44J, 
Z5b, 
341, 
idle 
33i, 
13 lz 
51S, 
52*j 
4 H b 
3I>« 
241, 

39 
321, 
26 U 

61, 
45b* 
474 
5a i 
63* } 
3 5-' 9 

203a 1 
337, i 
i7Ja ; 
30<« 
25 l B 
313* • 
22 U , 
1312 ! 
201, . 
31 U | 

5 J>9 ' 
337« ! 
107, I 
27i< 
66>4 ' 
26i» : 
261, 
397, . 
29i s > 
46 
2S)« 
407, 
211 , 

40 
41* 

25U 
21 
63 
30 U 
3H, 
33 
15 
IGU 
39 1» 
16?* 
34*4 

I6t a 

21 '4 

“I, 

«IU 

77.1, 

35i ( 

I7i: 

12 

29 r B 

15 

207, 

59 

681, 

45ie 

16b, : 

24i a . 

377a 

3514 ; 

4499 j 
2718 1 
35 1 2 ' 
55 1; 
227 fl 
131, 
41- 
305a 
261, 
64U 
157a 
44la 
225* 

13 

887 ( 

SU| 

i9>a 

45U 

20t a 

207, 

21# 

44 

iai B 

50 r B 
255a 1 
251, 
251# 

44 k) 
25U 
357 B 
ill, 
16b# 
855, 

58 


June 

9 


25 lAUUMI Lain. 

13T, l.\ililrew»ojrrapb .. 

3 Ha ;\eui« UleACaMi 

22 >2 Air Prodncta 

325, i.Vlnc*> ; 

22 ;.Vican.VIUDiiniiim; 

3B»4 |Alp«k 

177, .Alia*;. Untium.,, 1 
17lj iAIleclienv Pi/wer' 
34 1 4 •Allied (. kiemi.wl..! 

18.-4 I A Mini store, ; 

221, ,AH|fc Llninibn...i 

31'* .AMAS • 

227, jAmenula Hmi ...| 
Bl, Amer. Airline*.. 
391, Amer. Bran.K... 
345, Amer. Um#i1ra.-t 

343, Amer. (an 

25 1 a Amer. C varum Irt 
2 lbs -Amer. Klee. Puw 
315, Amer. kxpre-.-... 
865* Arner.HomePnkl 
16bfl Amer. Ale«lieai_ 
35, Amer. Macon. — 
39 1, Amer. NnL Ua>.. 
323, Amer. tiuortard.l 

281, lAmer.BtrirWv 

571, .Amer. Tei. X Tei 

277b I Anielek I 

15 i'e | Ail R..- I 

24la ;aMP- ; 

10 ,Ampe\ 

25b, l Auuh>.ir H'wkliu:.: 
171* Aaheuwr Bu-cb.| 

25 Amic" Steel ' 

193, i.A-S.A 

81# : A»Diera 

13 73 

271, AsbkaQil Llll 

43 1- !Ati. Ki/.'blielil.. | 

23bq |.Auu. Data Pro....! 
87, :AVC 7 

153a Awo — 

44 > 4 | Avun PnutlMl... 
24S, Halt Gan Kk»-t. 
201, iBank Amedia...J 

34 Hanker* Tr. N.Yj 

255b UariwOtl 

35 Baxter Traveaol..; 


22 


Beau+« Flh>i 


■ V W fc I wi, 

31 5b jUertonDI'-keni 

14 Beil A Hnweii 

35 Memlix 

21s iUeDKiieA Loon *B' 
20>* Bethlehem tiicei. 
I4U i(Jla>-k A U»-ker .. 

25>g IBlvUik 

225b ‘ Boise Caa wile 

273* : dun leu. 

251, Itiurt Wwtwr 

9 IBraniU lot.. 

127, Bcmhii ’A’.^ 

281* Brtno* 31>-er*^.„; 
137, Brit. I’d. ADK ... 1 
2514 Bmca«-aytilnw..t 

151* dnuuakA 

16** Bin-.vru* 

5 lluhiif Watch ._. 
36>* Burlinctuu Mhn 

58U Bumiuub* 

3 t'a iTaliipUeli notip...; 
147* t'MDBiliaii I'kciiicl 
101 , unrou Kaniluiph.J 
041* Carnathni ' 

113, I Camel .A lien era 1 , ■ 
157, .'waiter Unniev...i 
453* i^'aterpUlnrTrBL-lB 

435* {vki I 

56 ivemnew Lnrim 

15 ; Jentml A S.1V ■ 

18 bn |wertamlce>l 

291, Itewna Ain-rall_. 
27b, .wlinao Ua/iliauaii; 
371, iL'Iiemkwi Ilk. N Vi 


205, L'he-etinihl*MiiL.'. 
291# t,’bewMetiT*ieiR...i 
42 JliMKn Undft..., 

141# Chromaih-y 

105, Chrysler 
I til Cloeouni 
18 U (Juki. Ullacron... 

19», Cltleorv 

451, Uiuea derm... 
115a City Inverting; — 

361* lx*j* CtMa~. 

l9is Coi/pue Hslm — 
101# Uollina Aikruaa.. 
863s /UBnmMa Ga*.....i 
133* Columbia Piet — 1 
147, |li'in,lniCivi4Ain 
31 U Combuetioa fcac^ 
13^4 ICcnahurttoa Kq... 
267, [Cm'w'th Uriuon! 
®Vz iCem'w'tb Oil Hell 
201* |tVmiDi. Saie/lil*... 

8 1, .Cnm)Hit««ieieac+ 
31 >* t'lfln. L»e In*...,' 

107, ‘Cmlnu; ..... 

217, jCnn. U>li>w4i N.Y. 
251, jCuusti 
341c likHMOi Nat. Oaa.^ 
213, '(.ion^unier lAirrer 
29 1, .Coniinnntai Grp. 
2$h lenUnewtHiOil,... 
145# Contineotai Trie. 
233# iC/Jatrol Oata..,..,| 
40** 


351, 

241, 

43 

30 

50 

aas, 

451 * 

185, 

177, 

411# 

247, 

345, 

541, 

511, 

125, 

site 

321, 

40T, 

31S, 

226, 

573, 

511, 

251, 

67, 

425, 

471* 

3435, 

615* 

305, 

197, 

337, 

161, 

281, 

251* 

30 

20 

135, 

167, 

29 

5U, 

337, 

101 * 

265, 

653, 

255, 

24 
361* 
285, 
441, 
201 , 
381, 
21 
395, 

41, 
241* 
205, 
527, 
301, 
301* 
325* 
14b, 
IS 
38 Ig 
161# 
341* 

S3 

3«'i 

771* 

341* 

175, 

111 * 

271* 

121 * 

191, 

571* 

681#' 

413* 

16lj 

22b* 

361, 

52 

41b, 

25 r a 
521, 
S&t, 
227, 
115* 

44# 

295/, 

241, 

521* 

156, 

44 

227 b 

127, 

28 

811# 

194, 

43 

171, 

275, 

ei* 

421, 
117, 
38i* 
831# 
229, 
861, 
39>, 
23 U 
507, 
29>. 
163, 
851# 
671* 


1978 

Hl*b I Low 


61 

616 , 

31 
28 
345, 
421* 
211, 
287, 
45b* 
33 1* 
267, 
13*4 

231 * 

154, 

29 
161, 
625, 
443, 
471, 
278, 
35 
467, 

1814, 

81X, 

261* 

121 , 

68 

401, 

27S, 

174* 

356, 

381, 

‘261* 

581, 

34, 

27 

314, 

234, 

481, 

374, 

40be 

16 

30 
234, 
277, 
387, 
394, 

26 
5 Us 
221 , 
394, 
101, 
231, 

32 

121, 

14l,„! 

44 1 

104, 
504* 
174, 
63it 
544, 
324, 
32 
661, 
207, 
32 

31 

27 s* 

an 

28 U 
172 

29i a | 
227 b 
177, 
307, ' 
28i, ■ 

51b, I 
141, I 
26's | 

65b, | 

67 1, 

504, 

171* 

Gil* 

397a 

294* 

83*6 
19i* 
301# 
69 
136, 
344 
274* 
18ia 
179* 
861, 
42<B 
639* 
414, 
167* 
89* | 
ZWi 1 
865, ; 
38 I 

451, : 
85 

187, | 
441* I 
367, | 
14+, I 
324, ! 

3«2 i 

at 


stock 


June 

9 


Cumin* Uia*>..„ 

CPC Im'n'tloQa 

Crane. 

Crocker .Nil 

Crown 5elierl*clil 
Cummin- Koeinr 
Curt 1 — Wright... 

Uaoa 

Dan ln.iu*tne».. 

Ueene 

Uel Uunie.— 

Uelimu 

Den 1* ply Inter... 
jUMmii KrtiMin... 
UlBmoniitibamrk 
I Dicta phi <ne J 

|Uhita tquip..__| 
Disney (Walt).....| 

1 Veer Cori-n 

Daw Chemical-. 
lUtlTO 

u 


U11 Punt 

Dymu Indnacnaa 
|UaKie Plehrr_..„l 

iBaal Airline* 

IisbbI man tiodak-J 67 
iUaton 


451, 

421* 

244* 

281a 
295 b 
351s 
167, 

194* 

34 
23 
229* 

61, 

161* 

V51* 

23 
11*0 
386, 

316* 

38 
223, 

86 
361, 

973* 

121s 
161, 

6 

411* 

33 

16A. 

146, 

265, 

29b, 

186, 

276, 

86, 

226, 

261, 

18 
431, 

23 

34 
13 

24 
16 
184, 

287a 
306, 

801# 

404, 

17 
276, 

74, 

X8i, 

241, 

84, iPaqii* I nil*. 
101* U.A J' 

545, jlinnacii. 

87, Kie 


60*8 

511* 

297, 

28 

525, 

4H* 

174, 

2Bt, 

45 

33U 

255, 

115, 

23«* 

16B, 

275, 

161* 

624* 

441, 

454, 

27 

284, 

461* 

1214, 

301* 

254, 

124g 


U.0.40 

61 h urn Nat. Oaaj 

Bltra 

Kinemoa Ulectricj 
(umeryAjrPr’ifrln 
Kmban 

J 

KDRelhmrd 

Baniark 

Bthyl 

B»on- 

Fmrchlld Camera 
Pw. Dept- Store* 
Pimuooe Tire-... 
^“l. Nat. Hob! on J 

Flesi Van 

1'llnikote 
Plonda Power— 

iFIlinr , 

P.M.C J 

.Pont Motor.—.... 
Poremoi lick— . 

Voxbun.i , 

f rank .in Mint— 
Kn+iktr, Miner* 
Proehanr 


— 0 liner. Int— 

224, iG^V.TJt 

■ * ' JUen. Cable— 

lUen. Dynaauca- 
(•on. hlectnca 


111 , 

374, 

44ia 

26b, 

265, 


Uenerai Fooila — I 58 


ICenerai Mill* 


673, jCenetai Uotora- 


18ia 
24 
283* 
22 be 
3i* 
234* 
150 


Den. Pub. LiUL..] 

Oen. aLsml— 

r, ’ii- Tel. Kleut.. 


384* 

279, 
165« 
347, 
385, 
25ia 
37 Is 
268 
241, 
319* 
235, 
0678 
3419 
366a 
14*. 
2948 
881: 
873* 
30 If 
379* 
26 
491* 
221 , 
396, 
109, 

227, 

32 

121 , 

134 

431a 

97a 

287, 

17S, 
63 1, 
521a 


32 

611* 

184 

32 

29 


Ceii,Ty W .,.— _j 273, 


;>?ne»OT. — 

iCeurjpa Pam He... 


7 

2748 


■«t> Oil | 1664 


831, tilllKie 

19 !<•..» I rtch H, F : 

1ST* Liortycir Tire.— 1 1 

247, (•uuM 

237, iUewW.lt r 

74, ■•■L Allan PncTea 1 
22 'j i'»ri. .Vnrtti [rooJ 
124 tin-yboumL 
11 Dun a Western, j 

354 Imiii ui. 

54 Tg .HHlIhnnon — , 

32<a ! Hanna Mining— 
I4S, HarnutL-liieieer. -.' 

394, | Hama Curpn.. I 

34 [Heinz H. J. > 

84 lUeubiein I 

Hewlett PacEard 
Holiday Inna.— 
Uumeata’ 


617, 
144 
304 
434 
111 , 
28 ba 
231, 
104 
104* 
804 
344 

BOT, 

337, 

184* 

7 

8364 


; Hooeyweu 

Hoover 


Hop-CotwAmer. 
Hnuttoa Mu.Uai 
Hunt(Ph_A)Ubm 

Hutton (K.K5 

I.C. Indiatrl* — 
INA 


Ingeraoil Karat—; 
I n land Jfteei— .1 

I mi ico j 

tuereooi Enemy I 
!«M 


894 

283, 

174 

303, 

27b, 

74 

83 
154 
154 

84 
66b, 
34 ba 
163, 
60 
364 
885, 

834, 

191, 

64a, 

684, 

113* 

344 

874 

114, 

175, 

864 

484 

614 

394, 

164 

74 

869 


19% 

High Low 


204# 

26*# 

37S, 

201# 

1512 

.lari. PMvitira..., 

'Inti. Uirvraret- ' 

'lull- MinaCbem' 
|liui. Muititiw*.., 

26* 

37i, 

387, 

22s, 

173, 

86fie 


86i* 

llPG_„ | 

able 

133* 

63* 

27 

[InU Kroulier. 1 




871, 

11 

171, 

■ l«era bvri 1 

III' lurerimneneiJ 
{Jim 

357, 

11s* 

ESI, 


54 

8310 

334 

564 

281, 

V 

88 

SO 

344, 

50 

244 

494, 

347, 

354 

371# 

287 8 

344, 

484 

207a 

264 

815a 

204 

847, 

43*8 

1580 

3- 

38 

484 

•161* 

284 

267, 

564 

fit, 

346, 

244 

484, 

624 

207, 

594 

371, 

574 

674 

064, 

504 

606, 

414, 

M* 

184 

234 
I64 
334 
45 b, 
58 
28 
254 
564, 
15* 
11 
194 

27 b, 
414 1 

881* J 
511, I 
27;* ‘ 
211* • 
26 (, 
63 

194 1 
164 . 

28 
35 
£34 

211, 

284 • 
864 1 
231, 1 
484 | 
3U4, 
12 
37«, 
384 

257, 1 
644 

344, 
27 [ 

194 I 
714 ; 

557, , 
594 
84t 8 . 
244, 1 
184 , 

407, ■ 

*5», 
30 j, ; 

874, . 
25., 
32 
177* 
25»* 
12«- 
49i 2 ' 
30u : 

aw* 


284 

66 

244, 

294, 

354 

28 

14 

214 

54 

194 

404 

274, 

58*, 

194 

42 

254 

274 

214 

254 

264 

367 8 

144 

13 

174 

I860 

204 

334 

13 

54 

94 

354 

§!“ 

40 

114, 

191, 

204 

324 

214 

224 

164, 

26 

464 

154 

524 

254 

454 

584 

444 

394 

347, 

53 

234 

E* 

204 

124 

294 

534, 

374 

15 

214 

331, 

137 8 

94 

16>, 

264 

34», 

24 

204 

814 

164 

8U 

374 

174 

1*4 

204 

274 

19 rg 
804 
184 
2D 4 

4 

20 
801* 
211 * 
534 
27 

7 

324 


Stock 


June 

9 


Jufau* ALum ■ ■«.... 
Johnson Joho+rai 

Job own Conor 1 ’4 

Jo, U«niilactur'g 
li. H/n Livv- — 
kaiser A iimini'ix 
Keiaei Imlusine- 
Baieet atee*.... ... 

.fry 

iKenneeuti .... 

herr llcUee— ... 
Entile Waiter— 
Kiiuheriy Ccrk .. 

blupperm ... 

k»(l — 

nrriger Co..— . 
Lea-eway Tnns- 
Leri airaum— 
|Ubhy Ow.Fciori... 
lauget Uroup — 

Lilly (Kit) 

Litton IndurL— 
LpckbeoiAlror'lt 
Lone tie# r Inris.. 
Umn l-ianii LwJ 
Loul-dans IauiI-) 

Lubrlam — 

Lucky Store* 

L'ke riaucri'ati 
rMja-Mliien...— . 

IM*C)' u. h 

1 Hu#. Hanover... 

I M if<t> .... 

j.UaratJuvi On— 

1 Marine llMiann.J 
|U«r*lmir P4M..J 

May UepL aiorest 

JUCA 

UcDennutt 

M Donueo Dmuc. 

U Draw Hlu 

Memorez 

1 Hen k -J 

jMetriu Lyudj. 1 

!Meu Petroleum -J 

MtiM — 

MumUiagA &|ici 

IMuW' Carp. 1 

lMuuouuo — : 

II 1 in; an J.P 

. ikllllBM - 

MuipfavOli— ....j 

I .A^I'laov. —I 

Stm Cbemum .. .J 
Aar km*' Utn—i 

iNhi. Diatn | 
|N*i- tiervi + In.u 
iNmhioni .Meei — 

iNsiomae 

NUL 

Neptune Imp. — 
New Knglaml KlJ 
New Bngianri Te>[ 

j.Moeara Slihawk 

..Maaara tiharc. — 
IN. 1* Inrtual riee .1 

|N.irto*ULW olenii 
,'Nortta Nai. (h.„.: 

1 A Hill mates Pori 
'AlLnest Airline*-' 
-Atliwest Bnn-urp] 
Aurtoo tilmon. ...' 
O.-v-Plenta. Pem*i 
U||ky Mather...! 

I'M 1 10 kirtiana 1 

IOiio I 

•Oversee* skip* j 

.Iwen-. ConnilK —1 

-Oneu* llllJb«a_.J 

Vac in Urn ! 

IP# me Lkitn uin.: 
lea . Li... 

,Pan.\m Worn Air| 

I Parker HanniHn 
)Peu<ou,c Ini..— j 
[Pen. Pw. ii LI— ] 

Penny J. <J 

Vennooll 


Pskmi Drus— J 
I People* Oea 
jtym. 


174 

324 

204 

174 

174 

66 

271, 

334 

184 

2U4 

164 

331; 

144 
854 
75 . 

£3*8 

24 

iai, 

201 , 

bl; 

291# 

22 

u 


Person Elmer.. 

P« 

rarer 

PUeipa lArlM..... 

Pbila-ieiphta hi*. 

Ptamp Morris 1 

PbiiiipaPein>r<n.i 

Pilainny 

Pitney Nran 

I'll i»f no.. 

Pies*ev U>- A Dlt 1 


! l”o ia rr. 1. 1 — ... J 

Pinuoiac Kiec— .1 
VPU lialu-lrier.j 
rnma f>*Qilrt«..j 

jr-uu . *» fc-en. ! 
iPu 'iman 

| Pure* — I 

iVnaket ObI-...-. j 

|Ub|ii ■ Ainenmi- ; 

'Kitthsin.- 

|Ki 'A - 

BteeL. 


a 


304 

814 

287, 

354 

244 

354 

2 

234 

134 

237, 

484 

344 

474 

844 

481# 

341, 

544 

354 

874 

334 

474 

204 

264 

814 

1870 

24 

434 

151, 

74 

121 , 

423, 

38 

364 

477, 

15)0 

22 

854 

291, 

341, 

244 

48 

694 

204 

56 

5b 4 

664 

66b, 

654 

493* 

484 

404 

254 

29 

164 

Hi* 

I 64 

52 

44 

574 

J87, 

214 

354 

W4 

104 

19 
2B7, 

394 

£X> 

297, 

264 

IB 4 

231, 

641, 

18 

15S, 

271, 

31 
827, 
843, 

20 
807, 

7*8 

854 

264 

814 

87B, 

204 

18 

5&4 

32 

268, 

6 S 4 

24 

174 

704 

344 

307, 

244 

217, 

174 

407, 

14b, 

297, 

SZ* 

226# 

32 

17 
8 S 4 

18 
48*, 
3o4 
sate 


1978 

High ( Law 


50 

444 

62 

274 

347, 

364 

6O4 

174 

123* 

233* 

42*« 

313, 

307, 

394 

?“ 

204 

187, 

223, 

84 

364 

26 

154 , 
274 1 
39 1 

35 1 

42 • 

467, : 
374 j 
144 ; 

23 7, ■ 

764 ' 
5 s , i 
354, [ 
261 , • 
174 I 
374 
344 ! 

507, ; 

293* 

284 

201 , 

443, 

35 

274 

444 

524 

704 

453, 

16 

693, 

434, 

494 

307, 

154 

454 

1154 

64# 

534 

18 j 

IS 1 - 

844 [ 
334 ; 
82 
483, 
304 
621, ! 

39 • 

■ 164 l 

213, ' 
371, 1 
88 1 

217, 

40 | 
803, . 

403, 1 

38 j 

30 t, I 

274 

234 

2L 

414 

564 

154 

423, 

84 

521* 

504 

3 I* 

874 
883, 
524 
464 . 

883, 
184 
994 ! 
AS I 
311* I 
847, 

S2 7 “ 1 

874 1 
891, ! 
171, ; 
831, [ 

883. ; 
364 

843, I 
8«7, 1 

S' I 


38 

254 

20 

287, 

284 

344 
! J2l, 
in* 
152, 
351* 
254 
854 
334 
33. 
41# 
10 
644 

151, 

121, 

191, 

61, 

197, 

SOI, 

114 

Z24 

294 

884 

37 

28 

507, 

104 

18 

464 

13* 

18 

234 

194 

884 

31 

443* 

224 

231, 

164 

321s 

814 

824 

244 

44 

684 

344 

127, 

437, 

334 

314 

184 

«{J 

324 

674 

24, 

261, 

74 

244 

173, 

614 

294 

194 

344 

224 

411# 

514 

W% 

173, 

324 

814 

94 

264 

184 

273, 

201 # 

194 

18b* 

20 

1*4 

353, 

604 

184 

574 

84 

454 

41 

74 
67, 
257, 
811# 
816# 
861, 
324 
18 4 

134 
ibl, 
894 
85#, 
171, 
241* 
894 
80*4 
154 
Ui, . 


Stock 


Jnne 

9 


«ev .w — J 

iK*vnoM« UetahJ 
Keynnl-lp K. J — 
Kkrh4«n Merrvl 
Itvcweii Imcr- 
Hnhm * Hkss— . 

itaym Dun.11— . 

liiTK- 

Hue* D#!> 

Kv-ier tiyiem— 
•wiewnv -Mi -rat— I 
■4. Jie Miu«r«i*4 
|w. Kvtm l'>i«r 
■ran la F- I nil*., 
fmu Invest— 

Saxon Io-Ik 

ichlltr hrewln,.^ 
Tcfaiumher.-er. 
iCM... 


"Icon Paper 

Xori- Mr-.- 

Sne Dnorfcr-.— 

ISea Coma inert — 1 
[Seaitram 


, — ie(G JJ.i , 

iticeir Rueton k— J 

hKUCU 

jSbeii Oil j 

,7lie' Tien -imrL—J 
tbiana — r 

|4iRnnrteC<>n<— j 

liimpi i.if 1 Pal— j 

1’iniiei 

mnntHK-iiie....— J 

.auutrnn — _{ 

&MUMQWQ -—I 
XaiUiern La.. Nil 

tioutliern Co 

3thu, Nat. |(e .... 
.ajiilhem Pa. ifi 
|5onUiernM*uw*v 

buutuian. 1...— 1 
Vw't Uan-luuwJ 
sperr> Huum — ! 

> perry Kan -. 

bi,uiti — 

rtan.iar .1 itnab. 
bUl.UllCaninmla 
mi. Uu In-im 

Hit. On Ohio 

•taufl Chernies J 
’lernnji Drue—.] 
linelNkri. 
tun — . 

run 1 (mu •. 
3\ntex 


lecniiii.-nnir.- 

1'ekUun.x 

Iwn nr ...... 



Ceneco.— .— . 

Tesorn Paroienm 

L'exaeu 

rexasitini_, 

IVxaa lii4l.ni..i— 

lexaaUn A li**.. 

Texan Uillitim 

I nine Inc. — . 

ilinie* Mirror J 

! Timken — 

.inme .... 

. I'tan.merM* 

[ 1 ranico 

1 Iran* Union... j.. 
•(>*□- nay (ntrin 
'1 rails WnrUI AH. 

I IraveJI era 

Ifn Ou ins main . 

|1.K.W..— ; 

Mn^sanurv Pua' 
U-A.L. _J 

0 ARUU J? 

SUCl j 

'UWt* • 

Um+rei - 

Uni leva m 
U mou dancorp— 
union certmu— , 
Union Com meter 
um«, Uu tl#ut J 
Union Pact Ik.*—— ) 

Uniroyal 

Uniter! BrarrBs,.*., 

us IkUKTWT 

unUxiasim.,— 

JS alee. 

* lm(n»iHs*— ... 

Irvin Is Riect | 

.* 

1 ■* srrisr. L^imniii . 
>V«nin.Luiu«Tl^ 
: •» u4c-.ii •■>- nisi 11 1 

Jp.~-P,rx„. I 

' D«ii is 11 

l ,v e-lerti \. Amr<! 

(l1Ml0,| 
l*i 'H'Uvhvelbse'i 


287, 

20 >4 

804 

204 

t63* 

214 


I’Ve,*™.., I 

•iVlilr-j*.,, J- 

-'rime (.4*, iit'i). 
'll •*!!• I. a 
iWi mnam 


*93, 

•52 

577, 

264 

32S, 

367, 

674 

164 

13 

221* 

414 

25i, 

as 

?• 

144 

831, 

19 

167, 

21 

84 

314 

258# 

if 

374, 

341, 

394 

474. 

364 

144 

Ba7, 

744 

a 

344 

264 

lt4 

363, 

3*4 

494, 

& l8 

87!, 

194 

434, 

3*3# 

274 

434 

60 

67 

434 

154 

69S, 

414 

49 

307, 

1170 

447, 

1154, 

64 

52 

114 

261, 

2U, 

83 

314 

20 
434 
304 
62 
37 
164 
19 
367, 
80 
21 

.377, 

197, 

404 

307# 

304 

244* 

204 

21 

SB 

634 

26 

404 

7T, 

49 

407, 

77, 

85* 

31*, 

27 
884 

884 

4B4 

814 

144 

854 

444 

All# 

•234 

274 

354 

884 

164 

254 

874 

25 

834 
23 4 
191* 

28 


HjcK 


Uie 


204 

54 

594 

194 

16T, 

944 

824, 

8.67^5 


Imp 


roc* 


-Jane 

9 


174 .’Wisjiwiath j 

4 ‘Wv«v— 

41 jverox 

141, 1 Inputs 

11 4 lien lih Kail in 

93,i.:U.-.lrs« 4*1*# 
8 O 4 Cti.Trew4li7.AiMf- 
6.07iiUj>.« Day hill. J 


194 

44 

553, 

143* 

Ibl, 

.7941* 

7804 

6.64* 


CANADA 


154 
64 
33 
213, 
40 
22 
825* 
74 
584 . 
807, 1 

174 

185, 

6J3 

384 

174 

11 

143, 

294 

204 

194 

fll, 

61 

4.90 

107, 

.214* 

204 

SO 

184 

84 

133, 

9 

78 

884 

084 

264 

184 

16 

265, 

Bl 

30 

14 

aZ 

84 

331# 

474 

184 

204 

477, 

194 

35 

214 

807, 

134 

117, 

as 

4 9 5 I S 

204 


lo 1, 
4.30 
244 
14l L 
344 
174 
184 
6 
52 
204 

134 

144 

2JJ6 

34 

114 

84 

97, 
224 
18 . 
161# 
154 

51 
3.05 

81, 

178, 

834 

211 , 

154 

V* 

74 

67, 

52 
704 
534 

21b, 

143, 

ia 

I64 

694 

254 
104 
86 
5 
29 
37 ■ 
154 
161, 
404 
17 
273, 
104 


\nittbi Paper | 

Acdk-o hajfie j 

'■can l-umintum, 
Aiipraabier — . 

A -heal o# 

Bank nt Mnmraa 
Bank Nov# tinfia 
BbN. KesnoreeJ 
Be» Taephnw-J 
Bow VaiievlnB- 

BP 
Bi 

Bnnco— , 
Uaiprv Power 
UamBoa JJinCi 
Canada Omen 1 -h 
uMaiiKWlao. 
Canfmp BnkCam 
Jan#d* Indus!..- 
C#n PnciAc...— 

vM. Pa like Inv . 
Caic super Ui-.... 
Caning 0’Kee*e..j 
Caaroir A6e*to«— j 

Jtalertain 

Coro taco 
uuna Untburat.— 
Cocnmmer QulJ 
Cowka Keaocrcer 
Uanain Klcfa— . 
D#oo Devirm— 4 . 
Denison Mines... 

Dom Mine* j 

Dome PetroMumi 

dominion BrirUp- 
iJn mnr 

Ouiamt— 
fvcon’ev Nidue ' 
Kovd Mraor Can- 


Dual leCwkniK 
(•juit UK Uu,# . 
tlawkertilr. Card 

tki litter [ 

d>n- Oil *A' — J 
diaiaoM Bey lliic 

duiaun Uay 

du-tann Otl A Dfu-I 
1-A.C 


IIDMi-O— .... 

_ I Imperial Oil-. 
154 llnoo— 


I 64 


81, 

94 

131, 

13 

67, 

3.26 

1G4 


— # , «7a 

254 204 

38 263, 

4 1-90 

284 911# 

187* I 145, 
325# 134 

364 ! 14 

64 ; 3.53 

2 JO 1.65 


looj 


434 

374 1 

17 

4.-75 

1.63 

247, 

164 

17 

1~5B 

371, 

1U4 

334 

334 

194 

104 I 
9o7b j 
174 ; 

6.50 - 
an ’ 
51# I 
2&i, 1 
a.B3 . 
f 

204 I 
las, , 
104 ! 
ttaie • 
134 
84 
337# I 
lib, i 
IBu ; 


334 

314 

144 

3^0 

0.80 

194 

97, 

iSS 

254 

84 

844 

254 

IS 


.nlBon Tint. Gaa. 

inl'p-vPipeUnr^ 

tiauer Kasources 
LuurtFui Curp,-., 
UrfHurv Uxn.'B'- 

Me'miii'D bkwdi.j 

Maawy Fwxuaut 1 
McIntyre— — 
llinre inrun— 
MoimtaintiUteKvJ 
v.s ui m lliuw...! 
Moreen BaenfQ’.-l 
Athn. leteuuro—. 
.<1 uinac Oil A (n> 
/aawuo>i P«’-'m 1 
vto<BoCopi«r M.j 

IP lafclYuMiiN 
to. l*n. He< ’in J 

rttuni 

people* Uepua-.l 
Place Can £ Ot>4 
Puoo-Dev«iotaii 
tVwerCi+pnnU ’n] 
Price 


Quebec tiuimni'f 
daoi{ei Oil—., 
(eed ntan ] 

ILO ALcum — . 
■faqad Bk-oT CanJ 
ituyi' Trust' J 

I .cepue K*aoui«eM 


124 

4.70 

321, 

21 

se4 

2ir, 

204 

b 

574 

314 

144 

183* 

r*-2o 

58), 

I'M, 
10 T, 
104 
284. 

71*4 

204 

67 
4.25 
107, 

183, 
•28 . 
. 977, 
164 
. 55, 
134 
*4 
764 
854 

68 
26 

if 

233, 

784 

30 
tiC4 
WlS, 
64 
334 
39 
17 
204 
42 
19 ■ 
334 
191, 
194 

124 

11. 

147, 

144 

9 

4.10 

194 

124 

24 

374 

3.90 

.864 

1&4 

324 

364 

4.10 

1.96 

354 

133 

1154 

4.7b 

1.U0 

83», 

164 

144 

1-33 

344 

1U4 

334 

334 

194 


74 I rceptre Waouiveal 84 
284 j lOJirama— — . Zb 5, 
134 IM- lanak— . Icb# 

, hem It t> JUine* 64 

824 lUwrirD b— - 874 

4.-h |HI|Mil]r. I 04 

884 *» Canada-.} 2to4 

8 JO rnep Ifuc-H Iron J 1U0 
34 idw Ualnsia— I 3B4 
164 nmsiiii Uwni.Ba^. 20 
134 i.*JwC*nPi|*Ln| 157, 
83* 1 miu Uiuinr 0|»| 91, 

lu ■ . rroer— — — i tia 

10 jniunUas— —j 11 >8 

7 uuL -lao.wMinM-, 74 
2B4 J*Va *er Hiptra... 1 334 
104 [‘Vest Cnear Tra*.| 114 
134 •!-• 164 

t Bid. SAbked. 1 Traded. J New. Slack. 


JOHANNESBURG 

HINES 

Jana 9 Rand + or — 

Anslo Amer. Cun. SA5 - —085 

Owner Consolidated — — — . tX30 

Rest Drtetonteln 12J» ' “•.93 

Ektan L15 ~US 

Harmony — 5.48 

Kinross ■■■■■■ - 5.85 ; *-(CQ 

Kloof — L..: - 8JJ0 —0.13 

Rusteidars Platinmo 1.4S +095 

St. Hrtena .... 14.W +0.15 

Sonthvaal .. 7JS) “020 

Cold Fields SA — 21.70 “OJO 

Unhta Cpn 4.40 

Dr Been Deferred ..... — US +0.81 

BlyvooraiaJcht — — — 3.60 

Presldem Brand 714.73 -9A5 

Pnstde&l Stem — 1L50 -OJS 

SdBonteta — — — : — 323 -090 

Weflttan — — 3490 . 

Weal Driefontein — — — 37.00 -8*3 

Western Deep +13J3S • —698 

INDUSTRIALS 

ABC! — 2.70 +I4Q 

AngkMUDsr. lodostrua — 0 JS +K05 

Bsrtaw Band 3.83.. +0JB 

CNA InveSta. — L7S 

Carrie Plnance — — OJB 

Dt Beers Industrial — Hu 

Edgars Consd. Inv. — — 12.00 

Edgars Stores — 3490 

Federate VoBabelesRlnss JI.60 

Grestermans Storee ... . 12.20 

Guardian Assurance <SA) LOO 

Holeta — - . 197 

LTA 190 

McCarthy Bodway — ' 090 

NrdBank — 148 

OK Bazaars — A70 

Premier Mining — — - 6.35 

Pretoria Rsldtsgx — — — U8 

Pretortz Cemenr t!33 

Rand Mines Props. 193 

Rembrandt Grp. 8,50 

Ret co — 890 

Sane Hold loss — — 1LS3 

SAP PI 192. 

C G. Smtrti Sugar : 39fi +0.10 

SA Breweries - 197. -HU& 

Ttaer Oats and NatL MJg. >.43 
Unlsec 1.87. 

Secnritles Rand SUE.0.73 ' 
CDisconbt of 3652%) : ' 

AMSTERDAM 


AUSTRALIA 


June 9 


ACM I L (23 cent). 

Acrow Au-traun. 


+B9T 


“893 


+8.03 

-Ml 


“1.83 


Junes 


Ahokl (KiJBQl — 

Vkxo(Fi^O) 

.\«em Ban (FI |00j 
AMKV(P.J£). 
Aairatxnl (F- JD) 
Jljemtnrt 


RnknWeet'mrFK)l| 

Uurhrm Hetterodel 

fcinevler V(Fi.3D). 

tin uta.V.V. bearer 
BuroComTtt Fl.lOl 
Umi BrocmlwiPla 

Uvlaekpn(Fl^. 

riLWcovim- (FiJJ0)| 

dunierD.lFi.lQO) 

tiJ-M. (r.-L00}„. 

I bl Muner (IdQ). 

Naantan iPtJfl)- . 

NaLNto In- jFild 

NedtradBn(P'^q 

•ledUtaUkcFuf-i 

Doe (Fi. 1 

V#n O mrrwn n 

Pkkboed (Fi. 20)‘4 

Philip* tPL ID) — 
Bjntich Vor(Fi.l00j 
ttooeco iKi bO)— 

ttoiimo (Pi. oO).~ 

itorento (Pi. 00)— 
dojuUAitcWPl^iO] 
•area Du tx 


Price 

Fra. 


+ nr 1 DlvJTId. 


>21| 


108J5+0 J 
3L7I— 0.1 
353£-2.S 

87.6 

73.7 -0.8 i 83. 
92^1+OJl! 26 


A» JB. 


3. 

6.7 

5.0 

6.0 
6.7 
6.7 

7.0 

2.0 

6. 




levin Grp(PlJft)) 
rokynPto. Ukis-ti 
Unilever (Pi. BO). 

ViKtagUes-latSI) 

Fwlu'dit-Huk 


120.0 m + 1.5 

74.0 m + 0.6 

280.0 HP +0.5 

139.5 m — 1^ 

6BJtad I 94.61 5, 

36^1-0.5 23 6.0 
106.01 1 14 ! 3.3 

S — 0.2 | — 

+ 0.2 12 4.4 

8 4.6 

+0.5 26 8.0 
+0M 12.5 3.8 
+0.5 48 4.4 
+0.2 81 7.9 
+08 22 5.9 

157^na+0L3 36 4.6 

156.0U1X) 18 6.1 

42.8) 

86.7.— 07.1 17 J 7.2 
89.0+0^ 
171.0-0.1 1A856] 6.6 
131.41 + 0.6 


122.0 af +0.1 
128.6m;— 0.1! 
247.0m +0.7 1 

197.OS0. -I 

llE.Qnf 1 

120.0«i + 2 

41.5I-0, 
404 


>*0)+2 
L.5[— 0.3 | 


6.8 

8.3 
7.8 

4.3 
0.7 

7.1 

1.1 
4.0 


COPENHAGEN * 


Jana 9 


Lu la.-LaoHeo 
burm'^r W_— ; 
Daiuke Hank—, 
Avtau Co. — j 
Fium bank 
ror. Byuener— I 

ror. raplr 

t£#nilie»b#nk — 

O.JTtti’nUjKriKfl] 

•Vunl Katie'., 
v/iiefalftik 


PnvaDank.—. 

flWUblHk— 

*jpn. Bere(h1-oi 

>upecft». 


Price 

Knntr 


1381, 
473 

123 

I683*xrj — 1 

1261 *xr| 
355 
75 

124 
268 

1874M( 

77 

1291 J 
1363, 

393 
1828,1—1 


+ or 


1-7 




+2 
+ 1 


+2 


Dlv. 
• 6 


Yld. 

% 


8.1 

3.2 

9.8 

7.1 
10J 

3.4 

10.7 

8.9 

4.0 

6.2 

as 

8.1 
3.0 
6.6 


STOCKHOLM 


Jana 8 


At* A AtK+7-afl- . 

Ana Laval u(KrtO) 

AtiKA (Kr.KJ) — 
A Baa ConeoCKriS 
otlleru<l — — — 

noTOre.— — . 

Ue w ki — — .J 

-S'UKm J 

■Seethux ‘ts‘ (Ken 

Urtcasoo'B’OfrfiOl 

•B" 


261 l— 1 
95ml-4 

48.0| ...... 

340m— 5 

loom.- j 

63 —1 

247 —3 

60*1— S' 
150 -6 
69 —4 

50>q— U 
+2. as 


BRUSSELS/LUXEMBOURG 


d-eite 

Psgerat# 

Grange* (tree).—, 

dand ■#» ban ken - J 
ihnirai — . 

do Ucb Dom-to-! 

MnrlVtlL A.n 

Xf.'B’Ki. 

ikiuxl Hn-alala-. 

rwKWik ■«' Kite 

Uddeboim — ... 

Volvo <Kr. c0)._ J68 JKi 


Price 

Krone 


! + «■ 


211m— 1 

137 U-l 
839)*P+0.& 
121m, I 

80 t—l 

120m: +« 
186. 

23 
: 12 
130m: 1 



6.5 

5 

5 

B 

4 

•IS 

10 

6.3 


2.6 

3.6 

6.0 

4.9 

4.9 

&4 

0.3 

4.4 

5.0 


5 ! 4.8 


8 

3.1 

4 

4.1 

16 

4.7 

8 

8.0 

’.75 

2.3 


7.3 

8 

6.3 

b 

7.2 


- 

6 

8.7 


Jane S 


Aided . 


Uq. Bra. L*au> — 
Beken "B“, 

—B.K. UemenL— 

iiKt«n 


•IMS' 

o'e-injbe- — 

Fsbnque Mat I 

-U. Inocvbni— j: 
Jev*erl_._-. 
doreken !X,348 


Pncr 

Pi'. 


6.790 

j.850 


(ueiiefUuia 

Kiiy»i( n+tee.J 

Pan Himimg. 4+.6O0 

Prtrortn«._._ 

•Of Uen Bnnqiv>J) 

w tien tsetatai»> 
m m 


tt.i.00 

PLkBB 

4-9*5 

a. 156 

■U Vmv -_.;La46 

irsctum Ki«t-..^d.a50 

uCb — : — I 932 

un Mm. il.ldl.J 748 m 1 
iem# ilooDM.tteJl.5aS 


• 4*1 

U>v. 
tr . 
N« 

— au 

__ 

“6 

73 


1-elk* 

+ 16 


+ 5 

17/ 

-10 

45. 

+ 11C 

1/. 

+ 10 

13. 

— 

83 

+ 36 

1/ 

-3 

lie 



BU 

-50 


+ 2J 


-5 

l/» 

+ 5 


-25 

140 

+ Bj 

■sis 

+ 5 

A<Slt> 

t— 30 170 ] 

+ 1 



-4 


+ 15 




4.4 
6.1 

7.9 

6.6 

6.1 

7.4 

6.5 
• .2 
8.0 

4.3 
n.6 
3.1 
■F.6 
6,o 

1.3 
6.8 
B.3 
6.7 

6.7 


Anifti. line. I'rrte. Inri- 51 
Am pa K .tpiorarinn 

.Am pen Peirrxeum 

Awoc. Mineral-... — — 

Am. Pulp Paper BL— 
Areoe. Con. Iiv'u-rrire— 

Awl Foundation Invett- 

ANI 

Andimoo. 


AmL OnJtli*- 

Blue 2(W I ml 

Bougainvlilr Copper—, 
broken Htl- P roprlwa r y — j 
bU tinnth 


Carlton United brewery — I 

U. J. Cole 


CHE (Si) 

Cota. Gold Reids 

IV«H.lMr (91).-. 

Cored uc BtoClnto 

Coatam Auarralla - 

Dunlop Kobner (SI) 

EtiCO 



AnaL 2 


f+«- 


Kkteromlth. 


HA lndurtriea .... — 

Uen. Property Trtwt. 

Hamereler — , 

Hooker .... 


■Cl Auatmlt* 

Inter-Copper . 
JetmlngB lodiatrin. 
Jane# tDavidl— — . 


Lemnani Oil.., 

Metal* Kxpioratroo— , . 

HIM Hnklinn# — 

Hyer Kmpurium— — .. 
S, 


NkcboOui tatentaChmaJ.— 

North Broken H*rt the* (SOfl 

Oakbrulga 

Oil bra rob. 


Utter Bxpioratkba.— 

Pwpew Ctwcreto. 

Keefelct A Oatnn— 
tL C. dletuh. 


.murbland Mining— I 

Bxplamthm 


VSto 


(8L 


W » Ittrr^, . 

WWero lUnbuteOeemml 
iVool worth# 


10.70 

10^2 

12.21 

11^4 

10.77 

tuoo 

1123 

11.63 

11.00 

11.48 

10.43 

10/48 

tl.16 

11.33 

17.08 

tl.06 

1L81 

11.97 

12.95 

12.95 

12.36 

12.50 

11.60 

tl.40 

to^s 

12.12 

tZ.45 

HA3 

12.36 
tO.72 
(2.30 
10 .28 
1L34 

1134 

10.23 

ta.32 

12.25 

11.76 
12.30 

tase 

11.38 

11.77 
10.11 

10.36 
11^4 
18.65 
10.69 
1CFJ34 
ta35 
11.92 
10.86 
tl.66 
tl-66 


f+Q.Dl 
1+02! 
1+0. 03 

[+1.01 


<4J>2 

+0.61 

lAtt 

+0J11 

.03 

fO-Ql 

+un 

+026 

-0.0, 

1+0.07 


+002 

+8.15 

-Ui 

WLQ1 


1-0.02 

f-0.02 

|+M1 

+0.B7 

t+OJII 


PARIS 


Junes 


uente a*.. 


ainqueO.-d.ri 1 * 

Ai LkmM 

Aquitaine.. 

bnutuue 

diijl. GecvV'.— — 
Canetout.— 
C.0.K 


Ul.i Ai.nte- .. 
Cie hnnir,-. 
Club M&iite*. 
Oredli-Cpro Fr*c+ 
Cieuftt Loire 

Pr. 1VU viZZZ'. 

Gen. O i-Meota -f 
imemi 


+0.01 

+0.82 

+0.01 

+0.06 

June 8 

Price 

% 

m 

M 

YW. 

3. 

Crnlitonntxli 

342 


10 

2.0 

JjTTJ 


262 



9* 

5.4 

a 

1 

lEJlrLSfflSBIH 

696 

91 

l* a 

80 

8.1 

-0.01 

titeyr Dmlorler — 

1 Vmt Uaeneett. ... 

1B9 


& 

3.7 





14 

5.8 


U8J2 

U0.15 

hO-M 


TOKYO f 


June ID 


Chinan 

D*i Nippon Print 

Fuji Photo. 

tii(aiibt_— . 

Honda Motor#-—] 
KooaeFood 
C. Jtoh. 


•Priue 

Teu 


Awlu Glaa*— - 332 
Canon..—'.'..—.. 428 

avin 612 

345 
5a 1 
584 
252 
590 
1.110 

Uo-Xokarto 11.340 

Jarre ZZ-1 653 

J-dJiu 12.630 

Kanral Were. Pw.]l,13D 

frwaa&u— ■■...■■I -340 
j 280 
nyoto-CezamU: — 4.040 
Maurahita I ml... 739 
MiteubUhlHank- .- 278 
Miteobtahf Heevyl 126 
dit*ul»hl Curp.. .418 
MiteuiACo. — — 3h0 
d itsuxrabi . 576 
.Nippon Denso. — r 1.440 
-Nippon tiblnptn— 719 
M-mn Motora -- 1 808 

Pioneer — ! 1^50 

236 
877 
l.u6d 
1.760 
. 2o7 

593 

2,1.60 
U6 
499 
1.1.40 
310 
144 
147. 
1,000 


*nyo Ibeetric— J 
lennlhAk— 
•wwlo— — 

SSs Marine.—, 

1 steed* ChenUcaLj 

1 OK 


djin-,— .V 
lU ina Marine-:— 
lukioBiam PW’+j 
ufcyo 3*n yo. 
lukvotibihanr 
toray. 


.ntnt* Mntir— . 




h-i 
+ ir 
+ 1 
+3 


+1 

+13 

P 10 

+3 

I-10 


+40 
+ 16 

-7 

h* 

+1 

+40 

+6 

+T 

+30 

+4 

+2 

30 


—10 

-3“ 
+40 
+ 5 
[-1 
+ 10 
—4 
+ 1 
+2 
+7 


Ulv.| 

% 


14 
12 
25 
2U 
18 
16 
12 
18 
35 
12 
30 
13 

10 

18 

15 
35 
20 
10 
12 

13 

14 
2U 

15 
12 
15 
■48 
12 
du 
2U 
40 
11 
15 
du 
10 
11' 

b 

12 

10 

10 

20 


2.4 

1.0 

20 

2.3 

1.7 

1.3 

2.4 
-1.5 
1.6 
2.1 
1.1 
1.0 

4?4 

2.6 

2.7 
0.5 
lA 
U 

t- 8 

>:! 

1.7 
0.6 
1.0 
1-2 
1^* 

l 7 

0- 9 

1- 4 
2j 

1-9 

0-7 

4.0 

1.1 
4.B 
L* 
3.6 
34 


" S00n» NUCtco SecnrUes, Tokyo 

SWITZERLAND * 


June 9 


A-unnmnm... 
UbC-A' . 


Oita GeieylPi-w 

Do. ParwCert-' 
Da 
Ci edit 


BiecCroNvatt 
PLcmi iBrnmlJ 
Udhnia PlUertr 
Ua. .(timaiiL— 
tuceriood B. — 
Jetmob lFr. 100) J 
NesUelFr. 100) — 

Da- Keg— 
Dernkaab.(Pj£0)l 
Pirelli silP (F. IDO 

j*mtOK iFr. «*- 

Da Part* Cert* 

> blmiierUtaPlOn 
luisar CUlFJOD) 
wivaair (Fr. aoWl 

?wM> think (F.1D« 

swisMbo. F.*OCf4,650 
Union Bank, 

•uricb Ina. 


lTit-e 

Fra 


1.265 

LfiSfix 


1-15 
+ 10 


1.135 xi] 
835xi 
594x4 
2,163 
1.720. 

665 a 
7b.3Q0l 
17.675 
13,900 
1.425 
f3.400m 

a, i9o*i 

2.590 
280 
13.778 
482 Ml 
296 

31*4 

866«aj+5 


+ or 


+ 1 


[-10 

10 


+25 
+ 15 

+ 5” 
+ 15 
—18 
+ -0 
+4 


375«:+a 
+25 


.-i3, bate 

,ltO,1bOxr +26 


Dlv. 

* 


m. 

%■ 


o 

lu 

22 

22 

22 

15 

ID 

& 

35u 

Vi 

21 

21 


2.3 

3.0 

1.9 

4.8 

3.7 

3.7 
2-9 

3.8 
0.7 
0 7 
87 
*JS 


« o.*T 8-5 


« 6.1 

15 

16 
25 

4b 

12 

14 

10 

hlu 

4 st 
2U 


S.v 

1.4 

0.4 

1.7 

2.7 

4.1 

3.8 

4.2 
2.7 

4.2 
3.0 

2.2 


MILAN 


Jnne 9 


A.N 1C— - 
on-togi. 
FUi. 


Da Prtv- 
na-irtu 

I 

to. aim— . 

Jledmoanaa — 
Mnnteiliiten 
vetw Pri» 
I'miii A (la— | 
PliwiU f. 
nhVI-nm— — 1 


Priwi 

Lire 


+ or 


+ 1.T6 

+ 12 

+3 


95.75! 

476 

1.832x6! 
1.628xe+3 
100 j+4 
IB, 399+189] 
191.95; +728 


33^00; 

164 

1.037 

2.048 

965 

738 


+ E00] 
+0.28) 
+12 
+28 


Dlv. TML 
Ur#' % 


160, 8J2 
160; 9.9 


L4 


1^00 3.6 


130' 6.4 
8 JS 


Jtoque# Bare!.— 
l+iant# — . 
L'Orral— 


Lenrand 

JuiHM 


■on# Pbatx- 

UlcbellD “B* 1 

Mow Bermeray— 
Moulinex — _ 
PMIMl..— 


Pecblney— ........ 

Pernoti-bteard — 
tfengeot -Citroen. 
Pncteln 


Budlo Technique. 
Uedouio — 
Kbona Poulenc — 
di. Ortwin 

tiki# Umalcnol — 

bora....— 

FMemeesniq 

1'bftaMon brand' . 

U si nor — . 

VIENNA 


Price" 

"Fin. 


| + or< IWr. f I'i. 
I — i Pr*. S, 


738.0—1.9 4i a ! 0.6 
3B2.S 121.1&] 5.4 


302 

518 

520 

870 

560 

1,610 

370 

1,126 

323 


-2 2.7 


+0.9 < 16.5 

+ 28 126.28 


5.5 

5.1 


+ 16 j 42 I 4.8 
- 14 40.5 7.2 
+ 33 75 j 4.6 

,~l 31.6; 8.5 

1-20 (76.61)1 6.8 
, 12 3.7 
411J3)— 5.3 ll.CS 2.7 
121.6-1.0 12 9,8 
79.11+0.1 - - 

779 | — 5 7.5 0.9 

137 +2.1 14.16 10,3 

200i)|+11.5!a.2Bl 4.1 

6.7 8.3 


16.77 8.6 


39.5 3.8 
52.66 2.2 

12.5 2.6 
3 i 1.9 

19.93 18.2 
7.6 8.1 
7.5! 2.8 

17.15 4.6 

27 | 6.2 
27 4.7 
9 9.0 
14.93 9.6 
39 I ZJ 
25.61 9.8 

25.5 3.7 

16.15 7.4 
















■r'-NB 



















mxt 

BT-t m 













BRAZIL 


JoneS 

CrtK 

+ «■ 

JWJTSt 

Cru*l % . .. 


1.00 

2.18 

1.25 

2.23 

3.5U 

3.12 

1.68 

5.17 

6.85 

1.27 

-OJII 

+OJ.1 

+ j£i 
+0.10 
+0^7 

+~ia 

— Q.TK 

+ 0.UI 

All 

-.If 

■1.47 

-.08 

u.kk 

^.13 

u. 16 

v. Ed 
0.26 

.18 

12.00 

7.00 .•• 

28.1. ' 

4.60 . 

4.71 

4.17 " '" 

7.36 

3.94 

UJ7 . . 


Source: Bio do Janeiro SE. 


OSLO 


June B 


Uorregiuirt! 

CrediHonk— — [ 
tiONUOr..— . 
tiJwUtka#aen_ 
Norsk HyiirokrJJOj 
Storebrand __ 


SPAIN V 


"HwT 

Kroner 


94.00! 


+ or 




64.51- 

107.01—0.5 
230 
104.25| 

188 


Dir. 

% 


95.00) + 1 


11 

+ 10 120 
+0.76| Il- 
ls 


ki.nl 


im 

x 

9.6 

9.3 

8.7 
10.6 
5.5 

9.1 


June 9 

Asiand - 

Banco Bilbao 

Banco A Uan ti co (1,0N) 
Banco Central . 

Banco Exterior 

Banco Popular 

Banco Santander 1330> 
Banco UmuUo a.OOO) . 

Banco Vtacaja 

Banco Zaraguzano — 

Bxflknaion 

TfatTBiy Aniriwjt 
Babcock Wilcox — 

CIC — . 

DragadOB 

Inmobenff 

K. I. Arasoneau 

EspasolA Z3cc 

KxpL Rio Ttnto — 

Feraa OSM) 

Fenosa a.OOO) .— 

GeL Precladn 

Grupo VelaqtMX (400) 

Bldzola — 

Iherduero 

Olarra — 

Pa patera* EmniWag — 

PetroHBer 

Petroteoa 

Sarrio Papalera 

Sol ace — 

sogeflsa 

Telefonica 

Torrag H wrench 

Tubacex — - 

'Union Elec. 


Per cent. 


ua 

+ 2 


3U 

- 2 


1 138 

+4 - 


3U 

— 


2&* 

— 


20 

— 


<U 

— 

$■ 

26* 

— 


344 

— 


296 

- 2 


133 

— 


2U 

— 


2V 

— 


76 

- 2 


297 

- 3 


81 

- 3 


59 

_ 


. 102 

— » 


9U5 

- U 


75.73 

+ (US 


75 

— 


«2 

+ 3 


165 

— 


40-75 

+ 235 


IU 

+ 03 


in 

— 

- 

to 



| # 

127 

— 


2U5 

- 15 

«- j"] 

592 

+ 835 


50 

+ 1 

‘ rt 

125 

— . 


BJ 

- 033 

- ^ 

99 

- 1 


18123 

- 03S 

1. 

.1 

7475 

+ 1.13 


HONG KONG 


Hong KongS 

June 0 

June I 





2 .S0 

2.40 


__ 

- 


29.80 

21.80 

City Hotel*. 

41.0 

140.76 

Okunuputfun Properties... 
Urou Harimur Tunnel...... 

tl.76 

:l-79 

12 . B 

11.80 


4.45 

4.15 

omiR Kn*m Airviftra-ra*. 

— 

164.00 

Hon* Kong Hlectrlc., 

5319 

4.85 

tiongk'oneKowloanlVbxrf 

22.50 

19.30 

Hoag Kong Lcuiil Invrai _ 

8.7S 

7.85 

HaagKnngShimglMtl 2uok 

17.1 0 

16.60 


10.60 

15.30 


6.35 

4.70 







14.80 

13.60 

Janlluedeca 

7.40 

6.90 


3.626 

3.46 


4.35 

4.36 

-a} UJ'-® « i 

*n*p. 

ausp. 


- 

— 

1 1 / ■ i -1 1 ^ 

7.05 

6.46 



— 



— 


2.776 

8.67 


SA7B 

13.20 


2.70 

2.65 

Wyucop 




ttI Ba-divirtma * Ttuvar 
Srap. Suspended. 


I Saber. 


NOTES: Overseas prices exclude 8 premium. Belgian dividends are after 
withholding tax. 

* DM50 dmom. unless otherwise stated. W PtaaSBS deunm. unless otherwise 
led +KT.10U denom. unless otherwise stated. + Frs.500 dmnrn. unless 
uUrerwtaa -staled. 0 Yen 30 demun. unles# otherwtso stated. 5 Price at time at 
suspension, n Florins... b Schillings, c Cents. d DIvWund after nendlaa riuhii 
and/or scrip issue, c Per share. ) Franca. 0 Grovs dlv. r i. h Assumed dividend 
a tier serin and/or rights Issue, b After local uses. m<sj «x (rcc. n Primes. 
Inrlndlnff " Unilar - div. p Nom, n Stmt spllL - a Dl7. and yield exclude «pei-ml 
PWRMhfe - Undhaird dlv. it Unoffictal trading. uMHnrlrr holders only, m Merger 
pendfflB. ■ A?ked. * Bid. . S Traded, i Seller. * Assumed, xr Ex riches, xd Ex 
dividend.- xc Ex scrip isue, wEr ail, a interim mace tncreased. 


J -I 
:• [fr 


i 



> 





















































SUBANCE, PROPERTY 
1 ' BONDS 


AUTHORISED UNIT TRUSTS 

\bbry Unit Tst.. Msts. Ud, (») ' Cartnwre Fund Manager* * (aWg) Perpetual Unit Trust Maputo fc* 


OFFSHORE AMP 


/V^'SAf&JteSBTKDIX Co. LM, 


>*8t?wr*«n«towd, BCA 


"** £' 
iren J 0 *. 



«>»■«. SSSl^l^Si %SK m lm. j 

■ “I ~~ Sp^olioFtia* I ijfcj I | '■ Grac rehurc h SL. ET3P 3 JfU *182342001 

— ™««BC H y.,..hu^nd ManafedFund... |H00 15*J| I _ I 

' * *ie« Juatl N«t dealing Jaly a 1 


73-in CBlchrut»Rr1 . Mleihuri 
Uih-yfaplim 132 3 J 

Atihey Iumhw . .IW > 4 

Ahhcylnv Trt “H J>5 J 
Abbey On. Tut KM 1 * 


P S . J 4.09 f,-.A 

a « J . 5 73 urn 

S 37 1 . I 4 1b fw 

9 473-01} 3.95 inf 


1 - I - " H W5£ u jSL*, l ®; t J,- Allied Hxrabro Group* laMgi 

;tA — pf®*b»w life An. Sac. Ltd. , , . w „ . “ , y 3 1 ! I ArH hr, I Hit Hui inn Brewr ured E*irv’ 

— = 1'nacc of w>j« Rd. B-momii 0=09 totbm *** Ze * Und Co. <U0L> Ltd.* «”■»« »■' « Kr--nroood .0377) Zlisso 

Cash Fund 1M.4[ I — MaiUaodHoosfcSouUnuidSSI 2JR 070203053 Uwd Fanda 


. — CL. Cash Fund . . -W*3 lgl_4( . I L . — 

— 2, ft«®'EV^..,pfl5S ULU — J-'*>„Keilav Pian Q37J laid — Allied 3* 

— 5 f* £»« Food— — USS5 n<3 _ SoaJl Co i Fd- ttX.1 104.4/ -OJ — Bril In* Fund 

..... — «X-tfcU. Fund. hau H771 .... _ Technology Fd,..,.... U*.5 linS+0.1 — unhfclnc. 

— **- l - p J*y Fund..__hhl lairf .... _ Ertralne.Fi ... 100.4 18571-01 _ Hcrt. A Ind Dt 

”• — Growth & Sec. Life An. Sac. Lid.? itr«J *1.9 — ifJnSiwVurS 

••T - iSub«k&5‘AetS4S »«a - j - Nor »lel» Galon lanruee Croup 

7 Tuesday. G.&S.soperFdZT£7«r* 3 ] "Zj - POBo*4.NondchNK13NC. M3S25Q0 ~ 

Ltd. Guardian Royal Exchange %W3^“H82;i S3 ta3 ZI F"***!* 1 

01-437 3092 gpy i Eachaagf. E.C3. 04897177 J7»PJ«y Fund-. .. Syi 532+6 1 — sSTSTiSIfpicA' 

- - ftwny Howto. _. U7«J MUI..T- HS'l 582 * iS “ SSJ&S- ~ - 

— *Giohre Ulr Assurance Limited * Nor. Lull MayTsZ. 2046 1Z — SpcUUUJuli 

Z am 01 0031 *&•*»!* Anauranee Co. Ltd. a^mfrCa^Fd 

.... — gqully .._ Z.ZZ 1748 S3 :z - «■ ®,n« W1 111 am Sl, EC4P 4HR. flinas ara 2S*M52*^div' 

■— — rjronr.. .. “i85 nS3 - Woollb Aas. ...^-... M .pxi 0 U9M I - 

— JJ*“»sedC»p„ 1399 XOJf — gbT >*a A*» . 77.7 1 . . ,j — riS^Sr^* B< 

;■ • — . ^MgndA « m.7 Uil Z.! Z EbT Hl£i£ [73.1 Till .... j - E »1«- s,aIr C0 * - 

- — Ok’asta—Z 1M.9 S3 IZ z Prop. Equity & Ufe Asa. Co-¥ Anderson L'nl 


BHSHl 2. Si.MaryAW.WavAt'P. 

J 4.09 rnAnwheanl* 

5 73 JlMtlihTSUAcC) 557 
4 lb L cnimodityKMTT • g* 0 
3.9S cnFarKut^jf • 

High InetwaTat itb 
Ircemefund — JJT 
„■ ln» .MOOrt^j— J* J 2 

IniLEMptM. 

4J * mUtll TB.iAet’ US 5 


33 ltd «o 21 
598) -ill 
UMd.iit 
357} -Oi 

WO 

75 b -0 : 

leas -3 J 


■>l anivi *R Hart *■’ . R«-d 1«-> unTTumes 


01* Ppc-rualii;! Util B9B 4771 i 3^2 
in Piccadilly Unit T. Mgr*. Ltd.* nMfa) 

OBB U'.tMs':eltoe,2SalAiTulon Waiters tUCtao: 


fAtra Incrvrw 
Small Co> Fd .... 
' I'npital Fund . 

? 2S In! Eith. i AmU 


33. B! -Mi 970 
4J9I -Ci *7? 


Ml* . 


z stvil = 


tnnulr Tnesday 
rXa*&Ule Awnrsnce Co. Ud. 


— ffu*. Bray-aa-Thuau. Berks. 0ft2S^t» 

= t§3BK(Sf^£j z 

dw. G.ftS.SnBerFd... | £7954 H J - 


fonrH 

c ^rpQf- • 

•'^tn J 
■nth . ih } 

linn *®1‘ 
,n 



— :...z: 

JTwnr. ... _ 

U*“»K*dC«p„ 

Moo** edAct: 

2*«nna 

Gill Edged ~ 

American Acr. 

£m -F i.Oep.Cap . . 


Allied la -1«1 

Brti l tufa f und .. UO 
unhAlne. . . JS.7 
Hnt. k Ind Dr>. 32.9 
Allied L'apUal ....701 
HarniunAnd ..MSI 
RatnSru Arc fd._.|U7.5 
lanae Fundi 
High Yield Fd. (49 4 

I3?EE?. -M 

lamdhnl Fan* 

lmernMiimal »< 

Sect, at America 53 9 

PbelllrPund (411 

RprcbdUt Faa* 
Smaller Co 'a Fd „ B5 4 
Snd Smlr. Co'b Fd .(05 


Oveneaa EamlogB 
EapL Srelr. Co c -■# 


•S«|- D 

19& -O' 
57 Jl . 
5193 
30 « * 0 : 
a 2*t *d; 


b sri 


zu 

853'° 

412J +0 
2J79f-0 


l,4 “ TB.rAet' IMS jaa-iAi u, m 

_ Gibbs f Antony) l nil Tat. Mas. Ltd. AwwnUr Fund . 42.4 573) . 309 

-01 54* _., -I if. .iHSt Fr2M“Ni .j...,, Technoloey t"und S77 HW 40. 

-02 HI a> 7M«WirW s, -e -7WTM. r,r EB5< fd . ... _. ZBI 30 a *0.5 093 

+01 549 «'-'£-L'E25l t ' 5! I * 20 American Fund . JI2 i3*02 150 

in eiod ,4 80 

-oi oS iaA-G.F»rEa*r- [a. 4 z-id \ o 30 Practical Invest. Co. Ltd,¥ fywci 

-« S? 4 DeollnB *Tue». toWed 44. tHoomriw^ Srj Wn \ZRA iJl-d238Bn 

4 54 f.oyett UoKn>* PraeUcaMnne? IM9A 15U| . J 417 

77 1/jndonWall.E C?. OLSmaiaO Acrum L ' l>t(K - - tal4 22i 5] | 4 17 

IS siwrJW-Sjr-Rg; WM I 2A2 PrOFincjlJ Life Inv. Co, LUL* 

I 7na ^ ATCHIS mMO 1^9 B| I 2 03 ViihnrMoAip pr-t At *4" ft* ■» 

1 70» Stt | dftlin £ do- Jane ]fi 222.»ishop»«ilr i H» - ^rSVv? 

_ , , .. Prolific fnito -. 1*4 3 9031 *0 21 305 

| 240 CrifWSW tMMgfBenl Ct. ud High Inrome - - U102 Ua M -a 'A j« 

tot 5 77 PradLPortfoUoMngrs.Ltd.*iarfbKc> 

+0.1I 121 g»3 [ ^ Haibartt Ban. EC1N2NH 01-4038= 

I B-ovStvAJnaeB 075 5 18S 3 . . | T.81 Prudential „„ 11215 13101 -0 5) 452 


3*JJ I 2 40 Grtewsi* manasrm 
W i3 +0 ll 1 92 fo Cmbart a. K.'2Psn> 
44 0) +0.]| 121 BairtnEttmJtlW 7 -l»4S 


Anderson Unit Trust Managers Ltd. ^ 


+0.H 221 B*mn Eton JlU>e 7 - 204 5 21J71 «n ,, , „ ~ u 

lAecuni Cmtsi- -.2216 231.51 437 H«lNw-t Ban. ECIN 2NH 

au BtucltYdJBOe B 175 5 18S S . . T.81 Prudential „„ 11215 1310 

SJ is asStBSt.' £; Sri [£ e»u^ c.. l 

ill lAceum-UaU*) ... 1884 itt^ 180 The9»V.E»chanse.EC2NlHP 

+OJ 4 57 ChKtatr.Jinw8-.99S WSd -44 1U O^n; iWm. Fd. .IJ07 0 110* 

-OX 525 ^^Srs-hoa- j^MSKntlaen™. Il»2 1X2 

vara i id lAreMAUtiliii— f».4 76?} | ) % Reliance Unit Mgr*. LteL* 


I ITT* 

104 2ttij —4 4| 
-... I<3 4(UR2 
74 B I 


l so QoUter Management Co. Ltd.* 

180 The 9«V. EUchanse. EC2N 1HP 0: dm 417 


■nt lien. FA .1107 0 
tntZneome . (1252 


110«] 4 «1* 

1X2 .._.J 772 


>jtf^ HfeA«urance Ltd.* if Rep.Cap . 

VAbiaM-Reiealt RcasateWio], P*o'.Prop.^Bp CC ' " 

^ 143.11 . _ P+^ ProS. acc “ 

1220 ...: _ 2TO-Al4rr.Coo.._ 

110J _... _ gea-Man. Act . 

115.4 ..... __ Pen.Ctli Eds, Cap. 

943 _.... __ Pen.C 1 :t£dtAiE.: 

' 1020 __ Jrn. fl S. Cap „„ . 

182.4 _ Frn B. s Ace, 

1033 _ P«^D.AF.C»p 

83J _ Pea-D.AF.Aec 


™p. isquity * Ute AM. Co-T Z.'Zr CuardUn Royal Ex. felt Mgr*. Ltd. Reliance Hat. Tunbrtd** Well*. » 0HE22T1 

«Sp5jE? | “ j”^ 57 ABdera0nUT «“» 524( . 1 4 40 *m3F7£ 3BS^Sfcg* 23-02) || 

aaSgeJ S 4 2 |:Hz Anabacher Unit Mgmt. Co. Ltd- VS^ ™ 


Property Growth Asanr. Co. Ltd.f | 

Leon Haute. Croydon. CRfl 1LU 01480 0808 

Prope ny Fund 1 MU I . .4 - 1 

Property Fund i A)J 179 8 ....1 _ 

Aericuliural Fand.l 7S7.7 I .. . I — I 


_ Aericuliural Fund. 

_ Aehc Fund (Ai 

_ Abbev NaL Fund. _ 
Abbey NaL Fd. (A) . 
ini-rtUnent Pund__ 


AnsbMher Unit Mgmt. Co. Ltd. Henderson Administration* (aMcgg) 

» Noble SI.ECSV7AA. 01-821837* r.-Hl.r LT Alton n JIU.tartRurf Huitmi Ridgefield Management Ltd. 

Inc. Monthly Fund .W5.0 775 54 ... [ 8.90 {mSm,**GL ' CZ 77^17aj ^[^*^3840. Kennedy S^MaccI 

Arbntbnot Securities Ltd. (aHcl r&'raSSS.lne W2J tu RJoecfield lnt.IT M5B U3M . 

37. Queen 5t Lotidon £T4R IB)' P1-2KJB81 Ca^SwrthACC- So ■ 336 Rldaetield Income |n 0 99o3 .. 


Hearts of Oak BeneOt Society 4ni.e»unea« Fiuj^i' 

bS- aaERE?MT" , a, , T- Smk 

J2JS I — Hill Samuel Life Aaanr Ltd* Money Fund 


— Gllt-ejJgcd Fund 

— n (A). 


flf , i: ABuj^IOi^faaaeti 
,7 r Ul ,W ja;itoteia*ei&wd.9Kia. 

»tni ,E-2 ■ - 1 -. . c* 4 »3i i - Equ^-FGSdfX;;::: 

■ - '•‘"'IlitjL la* ~ Hill Samuel Life Aunr. Ltd.* Mo ney Fund .. — 

‘■■ptlVtiZ 'ISjtBd^V-jRlZjmT 114.3 I _ NU5 Tw.. Addlscombo RiL. Cloy. 0Z.8N4333 Muinuf^' “ 

®SBS5£f y \&1 -1 - SRSSH4®».r 

nt — Men »*ed Sen c*c 

J-l — Money Units 

-H3X — Mane; Series A- 

-ini — S Je ?. jBt - s « r A - 

-HJ.l — Paa. Managed Cap. 

.... — Pn*. Msunzctd ,\cc.. 

— PM- G teed. Can _ 

— Pn*. G' toed. Aec„ 

— • • — Fen*. Equity Ctp 




m - 


■**»** i 

■ >J - r td(ictj. 
.eriy JJ. 
-slurs 


- 


33 = 


4 Retire Annuity. I 
dimmed. Ann "tv I 


Prop- Gro wth Trulni h Annul Ora Lid. 
All W iher AC Utsll2a9 135.U ...I 


+Onront uhU ymlno J^r ii" 


B|e^ytPe X4fet^AMar. Co. Ltd.* 


Pena. Equity Arc 

PniFut InL Cap 
PnaFm.lnutrc 
Peni .“rep. Can 
Pen*. Prop .\cc 


1021 - 

11B2 ... - 

99.1 .. .. — 

1004) ... — 

1002 ‘ - 

IMA .... — 


AUXS-ifacr ac Utt. (128.4 
•All Weather Cap 122,0 

9 Inv Fd Vu 

PrnuonFd Uto - 

Coni- pen*. Fd 

Car Pn,. Cap Ut 
Man Pena FcC _. 


Extra Ineocw Fb 1050 

“ llljcb Inc. Fund 41.0 

“ MAceurn. UoILm _ 55.0 

— i84*^ W-drwlUla.1 55 O 

— P reference Fund _ 253 

lAccum Units) 17 7 

Capital Fund. ... 198. 

Commodity Fund.. 555 

— lAccum Units l . ._ 813 

— I icrwWrtrwl U . #93 

Fln.4tProp.Fd .. _ 17.4. 

Giants Fund. ._.. #0 0 

— I Ore uhl Units' 452 

— Growth Fund J3 O 

— i Arena. Union. _,33 9 

Smaller Go's Fd 273 

— Eastern 3 loti. Vd 240 

— rOVWdrwlUisi... MB 

— ForeleuFd 841- 

— N Araer. A InL Fd 32J 


543al +0M 
S8 9id -»C 1| 


Ltd. (aHcl Cap" oiShhtnc . . (« J «S1|-0]| 

1BV PI -338 3281 Cap. Growth Aft . te* • . 

113 <M +01 1131 Income it Aocts— B23 J4.4j .. 4 | 

44i -O.t 9.19 aieh Xnrowr FUada 
592 -0.1 919 H,ch Income — (501 5#3at^0M ' 

Mi- OX 9X9 CaKt Extra loe.- 15 9 StoSJ+CM I 

77 J -m 1227 c_|_ 

HBamSLBl -w-j! 

“5-03 in wJwwktoJ^ivll wl=o| ■ 

353 — 0^ 2W A^t5JT*r^— }34 4 . 37 3J 

M ~° z 2S ISXS=lBl Xi ion 

251 ‘ is? North Amer kl.8 *4.7 +0 2 

’■ 133 N-Am<toB#Juw«. K 77 in 9a ■ ■ 

411a ' 1 BO CaboCAmer3re.Co In 5 553} . 

3933+o Ji 2M> Hill Samuel Unit T«. Mgrs.t fa» 


‘ =3a cei z#5 sail 

Ridgefield InL IT Hid 183 W „ I 27Z 
336 R)9ariieldtncome.(no 490* .. I 10 99 
523 Rothschild Asset Management (g) 

72-8P. Gstehnuie Rd .Aylesbury. 02BBSM1 
; S N. C Equity Fund. [17tJ.4 18LS +3H 2^7 
“ Dl X.C. Bnm.ft0.rjL 113 4 122.7/ -cS 240 

. _ N-C Income Fund 145 7 15Sihd-ori S.U 
N C loll. Fd. ilar.i 95 0 lOl!^ +0 3 15b 

1 +7 S C. IWl Fd lAre i 95 0 101 0I+C3 165 

N f. Smllr Coy, FdJ1523 152 lj -0.71 415 

1 55 Rothschild Sc Lowndes Mgmt. ta) 

4-S8 SLftmihliuLane.Ldn.EC4 OI4aS43SA 

New CL Exempt ..|O220 1290| 1 3bl 

5 ra *a Stey 15. Next dealing June 15 

3 55 Rowan Unit Trust Mngt. Ltd.*iai 
\ l Jf C Ity Gate Hse. Finsbury Sq ,EC2 01006 1006 
i 29 America a June 8 T71S 743} . . 9.97 

Securities June 6... i860 175 0* .... «32 

High Yield June 8. 591 55 J, ...' 7.63 

anit ‘Aceuir. UdiUI .760 80 0j .... 7.63 

rv. Merlin June 7 HI BS.d ... SB5 

ir? lAccum. u«mj- 983 183.7/ 1 3.85 


TLXowtedStiljCS. 0] 623 129B 

+ r , ; BILBan*Ja*jU: 22t78 f ( - 

- r ^. yaa ada Efe Aiaarauoc Co. 

\ » High SL.-'Foders Bar, Rota. P.Bsr 51122 

■ >?;' ®^So£jiS^f- . rw I .::i z 


01 -rotas Im *' er,aI Life Asa. Co. of Canada 


"1 

217 

;r --9 

■° -:a lV 


ImperUl Uonae. Guildford. 712 

GrowthFd. June 8-171.9 712f-a.4( - 

Peru Fd June 8. ...J4.2 719| -0^ — 

dim u i'»*t Linked Portfolio 

BBKi9fcrgl Jlte - 

- -Secure Cap- Fd-.J§2 lM.^ +BJj — 

Equity Fnnd |95.4 108.9) — J — 


[WMj { Z Bldf Soe.Cap. Ut | 128.1 | .... | — 

of Cmitaia Provincial life Anunuice Co. Ltd. 

71253 222. Blibopagate. EC2. 01-247853 

xuiz au = 


>.i ttign 1 ieiQ Juncn-IM 1 »« .... I ij 

oi-namit 'Aejuf- Laitsi -g6o 7., 

n ci , u Merlin JuneT .180 7 S5.8( . .J 3 

_ 0 3 jjJ lAccum. Units- — (983 103../ . 4 3.! 

2« Ro>wl T*t. Cm. Fd. Mgrs. Ltd. 

-0?l 4B0 *4. Jermyn StroeL RW 1. 01-0238: 


Fret Managed Fd.. U32 119. 

P-tK CajfcPtL -1843 llfi. 

Gill Fund 20 116.1 123.1 

Property Fund 95.4 100. 

EqulirPuad 97.9 103. 

F+d Sn. Fluid 953 108.1 


Ltd.* equity runs 195.9 108.91..-. 

^«8^^4fcmhta7HAWNB 0i-6Q2S87d Jf*? ufe Aagoraace Co. Ltd. 
-dgQtdar — .1-0.091 — ILPInthury Sqaarn, EC2 W- 


Po Exempt TsL. .. 1071 U23ei -0.7 620 

Do. Extra Income . Z7* M.ll . . 8.48 
Do. Financial.. _.S91 63M S.U 

Do 300 723 782] -0.1 5.87 

Do General 30 9 3T« -02 622 

Do. Growth Arc. *05 43R-0: 4.Z3 

Po Income Til _. Ml 90.3 -OH 60S 


BlneChp JnneO 

Managed Fund 


01-62SB233 EqulL Fd. Mar 17 K25.07 

! -90.91 4.40 Fxd LnLMay 17- ftu!74 

+ZJj ~ Prop. F. Stay 17 . .-1525.45 

| zzi — Reliance Mutual 


■: ;-5nr+‘:3 

p-:$ *4 

H :r 5 *'i 

S Zl gj 

7i — ie 5j!* > 
-J ©:{ 
-Hfe-; 




Proe Wl. J awTi .- D77J 186.4 -ZH — _ ' ' „ " " . 

PTDp.Mod.GUj. -hii-l 7«q 4 — Reliance Mutual 

King A Shaxson Ltd. ' Tonbridge Wells. KenL 

52. CornhiU, Ed 01423303 HeJ - Prup.Bd, 1 

^ drd ^^a-rll , ?•S»i^S?^ SZ, “ ■'*fcMUU Asset 1 

Gotx Sec’lW {jfts5 >C rjSn| Z..| — St Swlthins Lane. Load 

Lattgham Lire Asaurance Ca. Ltd. NC Prop 

I jpg ti a m Es.HoImhrookDr.NW4. 01-2035211 . 

Lbngham ‘A’ Plan— 163 J 6731 — | — *®F“ !««"■« « 


39.7( ... I 3 10 
25« 413 

734+02} 2 97 


S641-C4 738 


. Qmw ml Be Tone l 

Life Aasuraace* 


Ca*t faRtoL— 
Do. Accoel ._ 
Equity Initial 


an— |63J 674 — I — 

"Fdl^s 5 I 23 zzl z 


!’J« GMMwBouaiLChsselAshWnoo 0802 38SU S?;^ff«5-- r 

;M l::d: SS 

• *w «**/ - ss^aftaw^. 

[-.*• 4%QMuMraSq,CbtfiTfd*eC7BSZNB .82181 DaAerum. 

- -OqAaelEMtST pa* 484. — Properly Initial 

- •' OWtofcfiSnS T 29.4 SXi — Do. Acxum. . __ . 

* '•T*~fht~~Kfln«ffir1 T* 48J — L**al a General 

— K< JJU^ ■ ' ~ Enmpl Cult Salt. 

% £% pf Westminster Aasnr. Co. Ltd. 

-- Tfcnartwad Bonne. 0 Whlta h m ao Bond. Do.Aceum._-L_ 


SUS&.nf' 07 - Archway Unit TsL ?tU; S . Ltd.* (nMct ia6l iSSBiiS?!- -‘.fee? “ S * : 

mS 2 P^tc*p.UL 1321 Z 31". »H|d» Holbom. WO V 7NL. 01-831 CSO. !t»imTTriS*ZZ 'p 3J7 lAccurC-UnlU- {*13 1 03../ J 

Prop. Pens F<L_.. „ 1*53 _ Archway Fund (K9 H2d - I S*7 tgi DoUarTru** — BO 07 8 +oa 2 52 Rovatl Tst C™ Fd- Mkts. Ltd. 

Prop PtaTcap Uto 1329 .... - luces al June R Ne»i xub. day June 13 .Kc-ptumv* - 31 8 -0 ^ 4.72 ^ ^ 

Bdrc sac PreUt. 1 7« _ ih> nnaneUITrusL (89 9 96 2 -0 480 S4.J8rwriStreeL5.wl. 0--C- 

Blag Soc. Cap. ut- 12O.1 — Barclays Unicorn Ltd. (aXgMftck ib.incoew-nwri.-..P5 3 202-04 7.7a &p:uiFd M3 724 ( 

Provincial Ufe Assurance Co. Ltd. "‘'aid ^’Tias \b!‘^h^iiJTM~b9.i 3L2d" 01 | so? Pnce# uiofl Next deriutg June 

222. Biihopagate. EC2. 01 2478533 Do 2S. acc 719 7773+04 165 inteLV (iKRl Save ft Prosper Group 

££ STK drd “ H2-2 HHI - SS-ASSmT Ut k 7?5 “S3 2*1 lS.Ll»»*opherS*e«.F.Ci nwwa 4. >«*>< St. Helen.. London EC3P 3EP 

cutVuS:.:z: uti +?o z uu^zSfl tJS 

Property Fund 95.8 100.5 .. — Do. Extra Income - Z78 M.ll . . 1 8 40 Kev Fund Managers Ltd. (a Kg! Dealing* lo. 01-554 BS99 Or 031-233 735 

£•? jSH ■■ “ S' So" 1 " - 723 in 25,jr.ikSL.ECz%'arE 01-808707(1 Save * Fiosper SecaritJes Ltd. 

Prudential Pensions UmitedO SS.pSSh Are...„ jos si '2 M »*% 1 2'? “° l 6*8 Ft??* 1 Kj 52 - 

HolbomBara.fiClN2.VH. 014032222 U7 1 ? Lm1 _ °4 5" SSfmSSShmtl 783 83 1« -0.1 STS uli.'Growth Z.T.JSi 734+02} 

PSd'L^uW 7 - gfl ” • I " %«£ «*#» “bit mb 4 Ju« » ErFltadlOjLFi.. 50* «2 M lxmmlivK u,** Fund 

KL^mST-iV — Icmm 2?2 ' '■ — Do. Recovery. (422 45fcf.Zj 560 Key Small Co VFd_|95.9 10*.^ +0 6| 6J5 nich-3,old _ 11? 1 3641-0.3 

Prop.F.M*y 17. .-1525.45 »24| 1- Do igS^ foid. -|jg n x?i| -oi 5.12 Rleinwort Benson Halt Managers* "1ST .!zlZ ^ZL 

Reliance Mutual 6*3 ^of IS ao.Fe«*«rhSL.E.c3 oiroenn HUhR^T. wsa .1 

Tonbridge WeUaKenL 0882 22171 Do. Accum. jn.B 7 a9 - 0j| 4^7 K.B. Unit Film..- M9 12M . ..i 5.09 Income |So ttll-O.lJ 

* n \ 1 ” B-ing Rmhers & Co. Ud.* (ahx, &S1SHSrK / 1 *3 «« ^ 

Rothschild Asset M a nage ment snLe»denhoUSL.EC4 oi-snsioo LAC Unit Trust Management Ltd.* onnaaFiatai 

St Swlthiru Lane. London. BC4. 0I-TO4336 sraatlonTri. (1700 177.2 +22| 427 The Slack Echauge. EC+.V 1HP. 01 588 2800 Europe .».5 9201 .. J 

N.C. Prop. Mar. 31.. 0143 12LM J — Do.Aecum. — ftlB 8 2193+28} *27 yfi^n |b*3 140« .. .i 765 J?g“ l \ 

Nrxl Sob. Day Jnoe 30 Nee wn day Juno 21 LACZnUJ^GeoPd.rab.O 99.31 J 22* — 179.1 850i.. .J 

Royal Insurance Group Bishops gate Progressive Mgmt. Co.* Lawson Sera. LUL *(aKd cSrmJdity^ |75.9 n.6( +Q4] 

Ne» Hall Place. Liverpool. 0512274*22 p B*Bhopagole,EC2 01-S88C280 O George St BhnbnmhEH22JG 031226. Tail Enero- —.170.1 7s!s +0 1| 

BoyaJShiddFd...-M34 1412} | - a-gate^/une 8.(1803 1923«T ..J 4.04 *1U*. MatorUI*-. (388 *12 +OJ 425 Fjjumcial Sera.. 1728 782^+02} 

Sn+APw-wrfn urn* AcC-Uta. -Jimed-ba 0 229 « . -j 4 04 Umtsj- . 43 7 «7S +01 6J5 lUgb-Mtotawm fh»d. 

4. GLSLHelen a, Lndn. EC3P 3EP. W-554 88B0 52 SJSSm^?IT^: 6 203 1 "./J 124 IS S “dol ' " 1JO *55 b} ^0+1 

Gat f FdH.Z : Uk4 1Z2 +W — Bridge Fond Managers*! JKC) — «2 *2 "• ixm Srotwts |39.o 4L* .....j 

rSSHw2Wt"iS5 S? “ King WlUlamSuEC4R BAR Oiro4851 Unics'.'. ' "b §3 Zil Swgteld I. W4 S3 J -0 J 

— i25 n« ini — American Sc Gen.*.. (263 27 m 1 135 DreL tUoo. “Tu*f ritCed. 477iura **F7L Scctshare * P* 5 . _ ' J 

Sm - STwT- Kn ^3 : :::| 3^ Legal * General TytMlall Fnml* iSS &vK .JSb *ro3 /'."j 


rh\ FlnJuicUI Trust. W 9 96 3 -0 ?! 4 B0 84.JSmonSnoel.RW I. 01-0298252 

Ibi Income Troll. — B6 3 28 3 -0.9/ 7 78 Capital Fd {685 7Z3f ..I 361 

llM4 ibiftecurity Ttuif -1517 55 4^ -Oil 519 Income Fd. .172.4 76 « I 712 

-.hiHIgh Yield T« {29.1 312d . I 801 Prices 8t May 31. Next deriutg June ISl 

1 65 InteLV (iKgl Save & Prosper Group 

IS IM-hnaopber street. r.Ci 01 2477293 4. - .real St. Helen*. London EC3P 3EP 

2+2 Intel. Inv. Fund (872 94 Oi | 625 68-7S Queen SL. Edinborsh EH2 4 NX 

« « Key Fund Managers Ltd. (aMgi Deal,a *» »° 01 ■» *>r 0312=8 T»l 
25. Milk sl,eC 2 \'iue ui-aoe707a Save & Pn»*pfr Securities Led.* 

1*9 Ke> Energy ImFd. 7781 011 *021 356 Internatloaal Fund* 

Sn Key Equity AGen.- 55b 72.1 -01 474 Capital - .07.0 39.7( .. . j 310 

60S *SvExeiptFd._ 144.9 15*2 .. 6 48 l.T^rT .1 Kl »g 413 

Key iDCTsre Fund... 782 83 1* -0.1 STS Unto. Growth ....{682 732) +02} 197 

ML Key Fixed loLFfL.. 50.4 64.2 Ud lT>rrrwlnn . - Fnpd 

560 Key Small CO 1 * Fd . (95.9 1020|+o4 525 u g.+ +«, 

Kldmrort Benson Unit Mauagero* 564} -02} 738 

4J7 20.FenebnrchSt,EC3 01-823 8000 High Return 1653 7071 .1 820 

437 K.B.UnilFd.lta - 84 9 92.31 . .1 5.W Income pLO «S i} -O.lJ 892 

qK-B. L'oltFAAC-. lDfc 0 115a.. .1 5 09 .•+ 

lX ) KJJ.Fdlnv.Tdx. P52 59^ . I AST (434 <5.6/ ,._.J 4.78 


2H-0.J 


45.6) .._.J 4.78 


ure 48IM1IIW y* ua Nexl Sob. Day Jane 30 Skc awh. 

TjmgtiafnEwHoImhrookDr.NWd. 01-2030211 _ 

Langham ■ a - Plan— (63 J 6721 l — K»?«l Insurance Group Bisbupsgate Proj 

ffrop Bond _ KU I4U.-.J - Ntre Hall Place, Liverpool. 0512274*22 p BtohopBgote,EC2. 

WtopiSPt Man Fd)>R5 STM - — ) — BoyaJ ShieJd Fd. — (UBJ 1412} | — (», 

Legal & General (Unit Anar.) ltd. <tat . . . rMBB AccUta. -June«_.g 

totwTOoSuf*' < CLSLHelena. Lndn. EC3P 3EP. 01^54 8890 SSBaflrjilJ 

m— Z Gflt 1 FdZZZ-ZZ; S? SJijj - Bridge Fund Ma 

- DepreirFdt _ ia« U9J - Xing William SL. BC4 

' - ^(ty^^dL: i5.| Sj - io‘2 - 

- DepoUWJUt.-hBJt _ lOS.fl .....J - ISJISSf-— K 


ECi Ul-MBISW " 

*«.(1803 192 3rf J 404 *} 

8-..B13 0 229 W . ... 1 4 04 flj 

ll_Rn.7 154* .. .1 134 *C 

P91A 203.9} . .. 1 124 *« 


Europe .05.6 92.0) .. J 331 

Japan @5.9 1(0.21 -0 ll C E2 

L’JZ 179.1 8S«...J Offl 

(75.9 81.H *U.4( 3.91 

Enem- — 170.1 75.5+01] 176 

Financial Sees.. . J72.B 78^4 +02| 2.97 

HlKb-Mlntaanm Fonda 

Select IntomaL — M92 27391 -04] 225 
Select income. _ ^.7 55 b( -0j| 7.48 

ScotJbits Securities Ltd.* 

Srothlts |39.0 4L9I .....J 3.C 

Scotylcld 494 53 ij -0 J 7 01 

Srotshare* (555 50 73 - I 441 


I Capital I net 


Prlcm on June 8L 
TWaekly dealings. 

Schroder life Group* 
Enterprise Room. FocUmoutb. 

Equity May 18 1 227.2 

Kqutty 2 June 8 -EQJ.B 229 


Do.Aect 39 8 *2.g ..I 3JM 

ExQBptt 136 145 a ... j 552 

Intemllnc.» 15.0 17 3 .. 1 355 

Do.Aect - 176 1871 . | 355 

Dealing +Tue«. 'Wed.tTburs. Prices June BJ7/&. 


j S Legal A General Tyndall Fond* sSt'&vSA' 


330 laCnnyngeRoad. RrtstoL 


Prices al May 24. Next sub. day June 14. 


n| :." i !.m SSMUU&rrr^J “3 . : i li? Schlesinger Trust Mngrs. Ltd. taKri 
18 71 . | 355 .Vest mb. day June M. (Incorporating Trident Trust# i 


140. South Street. Dorking. 


ad Bouse, 8 Whitebmso Bond. 
iCSOalA. 01-884 

i»Fund_l6M^ _OS — ..J 


Equity 3 June 8 

M2J — FltodWjouee 

113. 1 — Flxnd InL June 0 

122J ..... — Inc. UT Jana a — 

12J5 .i-i — KASGllt Jan* 8 — 

MU ■ — KASSc-JuneO.- 

... lOZSi ---} — Mngri_ Fix. Junsfl 

Legal A General Prop. Fd. Mgts. Ltd 
1L Queen Victoria St,E04NCTP 05900878 Mno^SJuBat 
lA&PrpJTU. JuuoS(«.9 JR,* -..ij DaporieJnqcS 

Nest sob. day July L • -» ProportyJjn»0 

Ufe Asanr. Cm of Pcauniybmfe BCi 

SW3 New Bond SL.W17QRQ. Otffe Juneft 

IAOCH* Units __/906 : 7SS5{ 


8984. Exempt Magd. Ini 

Do. Agcum — ■ 

Exempt Prrjp. IxriL 

_ Do. Acciun. 


Iji-iJ 

-r 


LSaqttLCap.Zfi 

LHh£<t Acc.— f 




; perform UaH* — ZT) 


I ' ; ( 8.1 

*&sr' 


LAOQ3* Units —1906 IWfUM 1 ** 

Lloyds Bfc. Unit Tit. Mngt IM- 

TL Lombard 8L.EC3. 01-TO: 


Mn PixCpJ Junto B. 
MUPbAccBJcneR. 


— €%«f WeMmixat^AMsar. Soc. Ud. 


--■- ■nx.Mmt&e *a=/ = 

•■' Z '.Cinmndat Usln Gnap • • 

” “ . :: rdt’HoimtX XUndorahiin. Bca 0I-283T30O 

: ■-J-' 

2 *2 - P ytMtiail w life tomw Cp. 

•i. ■*■'■■■: :.fftOwio^LBB«.WC2AtHE._. .<UrM2MB2 


Uopds LITe Aaanrancy 

20. CUfUm SL EC2A. 4tB/ 


¥* 1 J 7 * SSSStSlL 

' Money Pan- Cap."B 

Money Pen. Acc.Bc. 



ueauns-iPHL vtoa.vimira.rTicesuuDew/m. Administration LuL 

070927733 Britannia Trust Management (a) (g) 2. Duke sl. L ondon utviup. of-tasawi AS'crrotR 1 . 

— “ 3 London Wall Buildings, london Well. Leo Dm. |73 2 77 3 H KS W5 h , 1 21 

I — London EC231 SQL 01-S3SIM78.O478 lxoAecmii _.|BU 85.5(481/ 453 Exempt MkL L dr#. 

;..;;j z Mi-- {TLB 753-051 5^ uoyds Bk. Unit TiL Mngr#. Ud.* fa^ 


CapJLalAec S1A SSJ+0J 

CaanoAlod S5.9 602 .... 

Coannodlty. 79.1 85.o» — 

Domestic— 391 42.0a +0^ 

Zxempt 2J25 118 Bn -O-l 

Extra Income 39a 42J .... 

Far East 205 ZL7 +0? 

Financial Secs. — 42.6 47 4a ..... 

Gold AGenenl 67.6 942a +0.1 

Growth. 78.3 B42a — D ’ 

Inc. A Growth 72.9. 78.4a -0.1 

Inti Growth 6L1 65.7a +0J 

InvesLTst-Shares-. «l8 50* *0.< 

Mineral# JM 342 *0. 

NaL High Tnc 78.4 843 +1J 

Newlaaoe 3 Sj8 37.7 -0J 

North American — 305 3L9a -0- 

Ptofeadonal 505J 3214 +U.i 

Pro pe rty Shares _ UL2 i« -oj 

Shield - — «-0 484 

StatusChanS® *6 J3.0 -0J 

Unto Energy (324 34.9) +03 


2 S Regtstroria DepL. Goring-hy-Sea. 

j’k Worthing West Sussex. 

4.41 Flrxt'BalnedU .. (49.6 53J#4 

6.90 Do fAecomJ j5».| 73J 

938 Second iC-apj 5X7 55 

353 Do.f Accum.1 55.1 70.0 

453 Thlrttaneome) »3 8*3 

3.05 DfUAecpm-l— — . UO.O 11L2 

410 FourthfExlnti 58.4 67 fti 

7 03 Do.tACcnm.), — ... |5fc4 7X4 


Inc. 10% Wdrwl. 
01-823 128B IntnL Grviartli_ 
-0JJ 450 Im-.Trt. Units— 
-02 450 Marfect Leaoer, 

-OX 3 U9 ‘NU Yield’— — 
-OJ 3-09 Frei. A Gilt Trust 
+03 635 Property shares ._ 

+05 655 Special SIL TU-. ._ 
— 0J AM UJC. Orth. Aeevm. 
-0.2 AOO UJLGrth-DtoL — .. 


(0300186441 

X97 

LM 

823 

454 
.... 9.50 

9.97 

-0J — 
-O.l 251 
. . 428 

-0.1 4.65 

IiO« 

=$i 15 

-0.1 552 
-Oil 552 


vS Lloyd’s Ufe Unit Tat Mngrs. Ltd. j. Henry Schroder W«gg & Col Ltd.* 


352 72-8Q. CatohnW.IM. Aylastoury . 020080*1 120. Cheopoide. &C 
8J3 Equity Accum [1575 16551 •- / AO* C apital Junefl- — 

^ MiG Group* (yhcKri uSSEinSSZZ 

454 Three Quay:. Tijwer HOI EC3R 8BQ 01828 4988 « Accum. Unitoi 


The British Life Office lid.* <a) 



20, CUflon SL EC2A 4MXr awajeyi-cn.Acc.n- 

“ Scottigh Widows' Group. British Life Ol 

£g-555£-£gr«- ?5o 137S:::': - PDBOR8a2.UtBbiUsltEH18raV. MMMmoO ™LzTHre^ 

iT.:S» 5« - ItaJPI^Seriea J teJ5.1 -0.3 - 

Opt *W June 8- M7i - — W Jb\Sorie* 2— WJ - aLBeJmlrecP IS 9 

opt S Dept. JunoJLgn.* WM - I - tayOwiJmoa— 97> 1«.8 +DJ - gtotej^/ZZlfc^ 

Laodon Indemnity AGnL In*. Co. Ltd. gj 1S4 to j Z -Price. Jure 7-Wxt 

lB^JO, The Fortey. Rending 8835U. MpL Pan. Ju n o B - P5 2.7 262.7) -2.0} — BJOWn Shipley & C 

S# 3x0) Z'..\ — Solnr life Assurance limited Mngrs: Founder# ix. ec 2 

Flxwd Intarsat P« SAffl —I — lOJUKr Place London E.CJN 8TT. 0L24229W BS UniU June 5 — [217.6 

Th. TatiAhi A# Manchester Am. Gin* Solar ManagodS_tlZ75 133.91 -hj 5) - Do-CAec-UunoS.-iz/LB 


A 54 S-c also Stock Exchange 

4-49 American — ,K2_S 5 

4 52 iAccur\ Units ■_ — 1535 5 

253 Australasian. |B3 5 

lAeeum. Unitai B44 5 

» Conmodity [74.9 8 


c Dealings General June 7.— D3 

S5W+0J 146 (Accum. Unitsl. — 1033 
57 ol +0J l_4b Europe June 1 .. . Xh 

57 3 +o 9 XS* < Accum. Units) .. 33.8 

lia+LD LM -PenACharFd-Asas 1585 
8351 ... 455 *SpeeE*. June 7_ . 243 X 

85 71 Z AX -Recovery Jooe?. _}l89 5 


Brown Shipley & Co. Ltd.* 'SSSS^Z=J 

Mngrs: Founders Cl. EC2 01-800K20 Extra Yield.. 1 

BS Units June 5 — B37.6 229 j| — J 4.80 (Accum. Unitt.i. — . 
Do. (Arc.) Jure 5 — 1 2/15 7255/ — J 4JW FarEuiern — — 


U 67. 

51 67. 

17.0 12*5 

ZLS 236. 


8671 . 
114.1} -0. 


01-3*03*3* 

106548 2JB 

12SJ . 258 

L89.6* 693 

Z82.C 6.95 

SIT ..... 3.47 

107.8 3.47 

325a . . .. 251 

35 .' . 251 

173J . . 45* 

2505 .... 3.W 

195 j <97 


236.3 -1.9 
52.3 -9.2 


CoCTJda^T pj g nra nc o Co. Ltd. 


aWSantWtKCS.' 


: »3 Z ~ ■nie London & Manchester Am. Gjn* Sotor Manag ed a 

4 ’ JS*. -- +- — The LOM. Folkeston e. R a nt 080887833 sSJJ 

zM ■=■= gfe^5S Jftt 5!u a J =. 

Sj Wii • —J Afiic«mpt ftep. F4 WJ +®-5 1 

ranee Cfe Ltd. i2t tH- 

I' > . 014B8M1O lar.TmriFUDd 114.7 +1.7 — SoUr Equity P. 058J 2VJI . ...J — |J5?« •*• K-3 “2 — 

+By -..T j --( = £ iSlS2S4K=iP S|”1 = 

Sab x 177 M ,_Zj — MAG Group* : SdarlotlP. ^8X2 1*9.71 +05} — btocov«=rr__ lx* g-jS -a 

•_ m ^ Throe Qnw*. Tbwer HOI BC3R 8BQ 014W *388 , . . .. [ExmpL June 12 — p7 9 503^-0 


.... — Finan ci al — 

+1.0 — Gener al — 

._... — Groash Accra— 

+05 — Growth Income 

+05 — Hijlh Income 


3431 

396 -0J 
485 -OJ 
3*2 -OJ 

3 1.9 +OJ 

21.9 


-CfedBt ♦. O— et ehHiMM iCitad« ,N +.: 

22fl;B«s«iatSt, LondcmWlR BFF7 Ol-dSOTOSI Coo ^Depart t* — -j 


Crown Xtfe Aanrance.Cd. Xgd.* • Family ii-fld- — 
Crowlflefise, l ^® 35038 £&KbS 5 Ri 
M toWF2«IA<*.+gB^ r» SSSSmiSta- 


Praper^ F<XArg.-. KJ ' 
Property gtL JBCTu. »5 
(TOpnn^UUDC^ BJ - - 

Pxd. InL Fd. Tn rm . BJ ’ 
W^FVtA«_^m7 
IntciT. Fd. Incm,„ Z83.T 


Throe Quays. Tower HUI BC5H 0BQ 01*8 4888 

Pert-Penrioo— —P255 - -09 - 

gSSSSSS?— : igf S! = 
SSS=— = 

?Sh~zz&i ‘ = 

Si .: = 

Ameriom Fd. Bd.*. gJ g-| - •• — 

Japan Fd. Bd.- — ■ — |H L8 S4.7 „ a 

TriM OH -June 7. —Jone A *-Jhm 9 


AM Far Eastern — 535 

■ Accum. Unlu-i SI 7 

417 Fund ol Inv Tst, — 513 

IS &££3™'z.z Si\ 

4 B3 lAccum. XruL*> — 2555 

,H High Income URA 

3J7 (Accum. L-nitsi 1*75 

4 ii Japan Inromr jdJ 

335 lAccum. Uni;»> PJ9.B 

aaj Magnum -- - — ®90 

567 JAretUn.1 mUi J54.4 

439 Midland- .-.■- 

(Accum. Lmui - - 2® * 
Jim Recoacrv- - - - ® 9 
lAccum. I’futs* ■- . R.9. 




...J — Merchant Investors Asranoce 

-^■3 Tie' 123. High Street. Croydon. 01-8 

Za3 ~T Property—- 1 . 

Zsni — - Property Pena. — _( 


iO** G 


gg- ^ + " 5 s 3SS“pena_ 

Cnramter Inrarim^ Co. I4d- ' SSr^to-— 

.< r ca.mp.a«id*nif»i .--TVH -.—l - ^EL fnrina iM; 

V K«Se Stnr JnsdrfmilsaA J^SS^ 

1. ITawSdBwwSeSL. ECL r , . - Ntde*^ Aecmn., £21 l33 

Unlto_pt2;_ ,-- 530j+05i 557 JWex l&w Cagu- gJ JJJ 

V. IMW. Eff< Aas. Soc; Ltd.* ' NrfmcGatocAM-Kl -g3 

-''-'ggapgwt^eas^jasi-jig?? ^satest s| ^ 

^>®0S3B:-SS+-. .'-uasnsttB 


I i | - FINMiCIAt. TIMES STOCK INDICES 

^ js rrg ;.. rT7 -. jgST^mB 4z £* ■ Jl T ‘ A £ 

;; “V ^^^srswaJ.-+M« ^ “-™ . ra i“ 2 

, v :«h»u6ifeVrX'»«-7B ; nito . ,Jl Z 
■ ^ y r oi «,*■. " /- fi. 6 #- a,§< •5- &s 5.52 - 5.sa s.se 

. 16.13 16.22} tB.it IS. 


-0.H — Non Mtawgmt Ltd- . .. . ' (Accum- u nmi - - »•” standard Units _ 

Z Sat’AIlisncoHoas*, Hhrdwm. MD8U4J U! «! gjr g5 - - wiS^wSumttl 

•••• “ ExpJPdJnLMaylD.K140.90 1565M | — XO High St, Potters Bar. Heru. P.BtaSllZ: Second Gen - .— Dt.4 184.9 -Lt 559 " oJirrx; 

— Z 39.*-.. 457 g47 27M -d 829 3SK,“ f 

+*■* — Stm AJUsnee Linked LUo Ins. Ltd. d^S^dIS^ — to9 MM - 754 ^Sum.umi->- -Sttb Zitj -OjJ 42C Accum. unit. 

+1.4 - SttUUliimccBoaao.Honhasi MUM141 Do.Inc-Accwa— . K3* •&* 1 7 * specbdlKxl Fund. 

“ " “ ‘ ' ml} +04 — . (w/ (James) Mngt. Ltd.* Trustee. • — IJ44 6 152.6 -L*j 5.46 Sun AUtanCe 1 

l 5|5 - SSdBroadSL.ECZNlBQ 013880010 iSriJrai: 1IH6 10 M SflSffiiSSi 

a* : £SS.-7=dB a : ll ?S JSStKEi-- IB SB •- « StiKSiiR.* 

UAflt +05) — • Prices on June 1. Next dealing June 2L rena.Ex. Jun+3 — 0344 l«Uf 5.77 Xnrget TsL Ml 

0“ Soa Ufe fif g gproio (VJSL) Ltd. C-arilol I’nJf Fd. Mgrs. Lid.* taMc) ManuUfe Mansgement Lid- 31, Gresham si.k 

0 1-888 M7I 2.3.4. Cockspor St, SW1Y0BH 015305400 Mil bum Houre. Newcastle- upon-Tyre 211® SL^Jf'^-S^twge. OCBWOl 

♦OJ — Mania X/.Grth_ i 1995 1 J — Carllol - M.0 703t4 422 Growth UtuLi. — 15U 54 00) -1.4/ 455 

^0« — - M«rte K-jP°Ud--l JS-I I — j — Do Accum. Units _.KQJ I 422 Mayflower Management Co. Ltd. tS^&Jdc7 

-lj - pSmL RC fS'ZZl ' ml I :::::] - Do.HlghYield. Igi <M ... I JS ro lB Gr+>hxi2 sl. EC 3%* 7AL" 015068088 *Po. AeC-Uaga 

+At — Target- Ufe Anatuce Co. Ltd. ^ ACCM N«at dealing 2 date June £ “ bate— B8* ■sa j “ 

tSj — T>r»t Bourn. CotahoaHc Rd. Ayt eshary L Charities Officml Invest. Fd* M err urv Fund Managers Ltd. do. Rejnv. Units 

- F S3?- «>■««“ Sa5!r= 


01-830540 

! i§ 


Carllol (6A0 7 OsM _ 

Do Accum. Units _.wI5 8*51 — 

Do. High Yield- jO-J «M*| | 

Do. Accum Units -pi5 53.7J . .. J 
Next dealing date Jane 1*. 
Charities Official Invest. Fd* 


31, Gresham Sl . B2. 


wun«uiuiu6v w— i — ’i — Target EnuilV 

422 Mayflower Management Co. Ltd. TrgcsEsjDe7 
JS I4'10Gre»h«raSL. EQVTAU 0140S80D8 +Do. 

! * Income June 7 RQ64 U25I - ... I 820 Target GUtFwid 


^S^^FtL Inc. 

iafej&z 


M - 


I TT London WslL S2N 1DB. Ql-NffllAlh 30 Gresham SL.EX2ZP2QL- 01-60 

SSKSJS—BB Z I t* H 

♦Uuauth Only avsU.ble lo Bog. cWioex HJ 4 

Charterhouse Japhet* jSSwaS'SlT. S ai 205 

L Pstarooeter Row. EC4. H«ra* Accum-UU \nrrr.|2S5J 266J) 

“la* S3 ' £93 Midland Saak Gnmp 

SS?SiSf-ZZ: 340 SI . ' aS Unit Trust Managers Ltd.* (a» 

CJ. Euro. Fin 252 28.0 . . 193 Cou TTwOod Heuse. s Liver street. Head. 

Accum. Unit, 30.4 3Z4 3.18 Sheffield. Sl 3RD. Tel. 0748 

CJ.Fd.Jnv.Trt 77.7 29 D .... 3.W Cmnnd'I" 4 '♦*». -16*3 *94irt -+8^f 

Accum. Unaa — .— 315 335 .... 3.71 Do. Accum — |7A* MW+OO 

Price Juno 7. Next dcsjlng June 4. Growth -P7J 405rf +fUj 


SS=5«fcrzW ^-ISEE 

Mercury Fund Managers Ltd. in Remv. limts 


gsfeaszzz^ %3 ::::)■ z 

Tsnuinternattonal Life Ina. Co. Ltd. 

2 Bream Bldgs. EC41NV. 02-40864*1 

® ;:::::] = 

.SSlSlKLHir.iwf ia.| :z:; - 

J*£«B-,PriLFli- Act .&26J — - 

(Trident life Assurance Co. Ltd.* 


3 68 "For tax exempl fund? only 

Scottish Equitable Fnd. Mgrs. Ud.P 
7.85 28 SL Andrews Sq. Edinburgh 001-5568101 
1X5 Income Units. — (50 0 533 ... | 5 JO 

3.40 Accum. G Dlls. —. p75 6021 — -I 5 JO 

3.40 Dealing day Wednesday. 

854 Sebag Unit Tst. Managers Ltd-* <a> 

219 po Bax Sl 1 . Bckfbry. Hse.. EC 4. 01-2365000 
J” Seban C.-ipliaJ Fd. -gBO g -05} 3J4 

J-J, Sctag Income Fd...P0J 3X5) -0J| 830 

5 90 Security Selection Ltd. 

£2? 15-18. Lincoln’a Inn PIcWs. WC2. 01-831 6B384 
8.45 UnvlGthT*tAce_B41 2531 .... J 230 

147 Uavl Gth Tst Inc _-|ZL.O 22-M - .1 230 

£g Stewart Unit Tst. Managers Ud. (a) 
338 45. Charlotte Sq. Edinburgh. <01-2203271 

£ 13 TS u— r i Americas Pad 

£41 Standard Units — (875 7L7J J 135 

T'ji ACcnm Units (72 4 77 O .. . J — 

IS Withdrawal Units _{53A 57 j| J — 

54? -Stowsn British Capital Fund 

*3 StandsM.- BJ^6 t«UJ J 430 

450 Accum. Uni ta p»J 140} .. I *30 

Dealing TPW. 'Wed- 

646 Sun Alliance Fond MngL Ltd. 

.•ft Sun Alllanre Hae.. Horsham. 0MBM14I 

vs 

577 Target Tst. Mngrs. Ltd.* tagg) 

31, Gresham SI.BC2. Dealings- 0296 5B41 

38.01 — 0 J| 3X3. 
Mi . .... IS 
«JJu -Oi, 5.99 
2364a 856 

Si 

»J -OJ 1 451 

32.0 +0J 135 

35.0 +02 135 

33 Ja 3.52 

1695 . ... 4J9 

5IJ -0J *34 

152 -OJ 1134 
»J 436 


0 1-800 45S5 Target ln». 

, 7“ TarKelPr.Juno 


Do. Acvtmi 
Growth. - 

Do. Accum 


I Chieftain Trust Managers Ltd.*f aVg> capital T - Z a* 

llNewSL EC2M41T 01-303602 Do. Accum M6 

American H*042 260) -OJI 134 income g-1 

HlchlDCome pW5 4JM -Ojj 9 97 Do. Accum - j*7 

InSnabanalT3_p295 25.5 +0U 319 Doernm.oM. g3 

Baric Reared. T«t®3 28J(+0J| 43* ” ff-Z 


iReariadeBaaio, CSooeeatcr 


045236641} Confederation Funds MgL Ltd.* (a) r~-Accj^, 



SOChBDcciy Laae.WC2A 1HE 01 S420CB2 

Growth Mind HL« 433} ... .4 4J7 

CosmnpoUtaa Fund Managers. 


Equh> Exemp: - 
Do. Acciun.'.. - 


nrt “ Tri-Inc.. 

S3 S-S TrLPrrf 

Cbjna Growth W. 

23S :...:: *c Target TsL Mgrs. (Scotland) (aith) 

BUI ~. J 4.4Z |p_XUiol Crcacent. Edin. a (S1-229882U2 

T arset Amer£Ag]et2BJ 38.4 J 155 

td.* (a) T^-nfSi^rrgf 

e«< Head Extra Income Fd. „ 158.9 533) . . J 1035 

« i , '7? a, SS Trades Union Unit Ts*. Managers* 

IH 10a Wood StreeLECi 0I-«Z8«M1 

+03 TUUTJnnol I50J 33.4) .. .. I 530 

3FI 3” Transatlantic and Gen. Sera. Co.* 

iZT \ -O J 334 PI-80 New London Rd Ct»ctmriordCS«5ie&! 
54.7) -0.3 b35 Barhlcan Junes-.. 755 ,606) . 548 

bZjJ-g.l 635 (Accum. L’nltai U43 321.4 5.4* 

3 5ol -Q.l 239 Barb£xpLMav31. . 858 S8.<« . „. 4Z3 

57fl... BpcXSTuSetf. _ ■ MAU ... 432 

55 Zl ... 8J7 |Accwn.UoitdJ MB 1M5 .... 4j2 

6921 -OJ |37 cole mo June®. (245 (3X5 “H |-3 

,093 .... 549 lAccum. Units) M9.9 3587 -l.J 5.79 


‘Prices »t May 3 l Nest dealing June 30. 
Minster Fund Managers Ltd. 


1 3favay—- 

lUmittoNl. 


<76JS| 449.4 

133.71 11*.6 




LMnpXCxp. - 113.0 


130.* — - 

1MI — 

iml7| ._. . — 


16.13 16.ZS 


I InSnadcmaiTa—Stfllg 26.3 +0U 319 UUemaiiOM. «93 53 5o -Q.l 239 vorbXMMtysi. . B8 

; Confederation Funds MgL Ltd.* (a) r «- accuti _ — Mo m 2 -oj B37 cojwao Junes... - 
! so Chancery Lute. WC2A 1HE »> »=“« dTSSST-ZI St / 1 5.S fflftSWz” g?9 

Growth Tlind (4L4 4 33} ... .4 4J7 -Prices »* iWa* 3L Nest dealing June 3d (Accum. Uiutsl — 569 

CnsmnpoUtaa Fund Managers. Minster Fund Managers Ltd. SBmSfcnZL ui 

3* pom Street, IrtDdonSWlXWJ. 01-2358S23. Minricrlls*. . Mthara.Rji*. Oiro HBO Marlboro JuneB »3 

o^^axruiu.9 »* ■ -I « gg+ ES^JB £1 : :i IS SSSSWlr: Si 

Crescent Unit Tst. Mgrs. Ltd. (aK«) Vttit Trust MgeranL Ltd. KjS'z 717 

4MelriItaCres..Edmb^3. cmrotwi ow .>,ruct.SWiHjuft 0)5387333. Vant^ceJ»w»7- «7 

Oreacent Growth.. |2$.4 JAJ +05} 455 tja,5 4X51. 1 4JT < Accum. Unltaj ...... +5S 

Cres-lntenutfl b95 63^+03 0.75 , , M \,ZZ 1 WcVrJuneR. 505 

Cres.High.DUt _ too 46Ld-a« 895 Mntual Lni» Trust Managers* WKfi) ^accukl UuNsi. . . 7i.| 

iCregRceenes. — P93 4Z1\ J 439 X--EC2R7BU. 01-6004803 WickPi. Junes — H5 

i;«H Pun) Mimifm Mutual Sex ru»_tel3 54 * +051 L3S IHiAcctxBi •» 


| -jjj Z J 3a Pont Street. London SW1X8EJ. 01-2358525. Miaricrllw. • 


Ml .... 
66J .... 
5i6c .... 
72.7 . .. 
53.4 .... 
NM 

524 .... 

6*4 

TSS .... 
471 .... 
479 . 
640 ... 

759 . .. 
58.1 -01 


fifcffi ^ z:.: 

yilZZpJ . - 37.! 

Boed _|97JL — 

tom calue ZOr £100 premium. 


"Si SEifegl a s a ■;■=£»«« 

Due Income |1623 1733(4-051 553 Mutual H>e» ' >•» -■)»* 59iJ -0 U 8.75 ia,Canj(iceBoad.BrtrtoL 


“ IE. F. Wine heeler Fund MngX Ltd. National =nd Commercial 


InrtxneJua# 
(Accum. UnlUi .. 


0272322(1 
. ..J 8 J» 


l^nMt A8»tnjsce/pBa«io&8* 


i f- . •>: ; g ; *£ a-- -.■' ■ -V. )- ■ /c.-'-Latcgt 'todq^ Cl^a* • wll i-oaa 

' - •. +HIG‘te^l P g iPWS i; Vr- • , ACTIVIT Y 

-.'5 t - Z »9TC:Z;;>j^ Jura 


‘ /Uigo- i irLoppjR^eh I 


"W*®*** .( 



Jnrie June 

^8. B 


lA-DanyageRoad, Bristol. 

SJ 

BoodJOao 8 .3419 

1275 

£>ayFea.MvU~ ■ 2*2. 
Q’eestlav.JuoeS- 75.* 

3KU70P.IIW2 »-« 

Vanbrugh life Assurance 
iMSHaddcaSLlda-WUtSlA. 


0272 323U I Gl.Wincher 0 




r,,- ~ - | . n -_ flijnssim 3LSLApdr< ,i Square. Edlnbursn mi-SSBOIM capital Junr7 1275 

«•» gsjasfssdw m -1 « £p I .. : j Is SS ■ ll 
= = astrsi^ Kuc r^ sBasjjffitaStoiK ®*r | 

— BJusOT Dudley Trt- (44.9 6971 | 350 44 Grecwhur^ti M.. E»3HH C«(-iS£342DO (Aerum . UnlUi . - JW 8 

N PX GlU f T<i ** •roS> <7W . J 4.00 Scot r^ipJuoc t *41 0 

— Equilas Secs. Ltd. (al (gl I.-Wum. i ml--'- -Kvl J 4.M [Accum. L'nitS' - JM0 

::::. i *iBtohop»eate.EC5 ««w ? ;K o ' w ?? n Tr2F‘®5 HU - IS 

014884823 Equity&Law K*2 ««-021 4J* 

« Fratslingfes Unit Mgt 1M- (a) aq«i« . ".§2 S? M 5.06 *wnS?fcia*. 'Ua 

154 Z 5-7. Ireland Yard EC4B5DH. 0l-MflB7l crowhltu - tea 95.9 -D-M 502 

+22 - American (49.0 5X* 100 i^ome . --WS MI -o3 660 Special ML* . POO 

— Capital TSL — - — 1172 ,1+95) 390 Portfolio ta; - }67« 72.0c -dB 552 TSB Unit Trusts ly> 

i “ . sesssS!E=B : i ssa .1 Is SbTw u« «x«i 


Louden Wall Crnup 

Cnpitai Growth g 

Dn. Acvum g 

Exti.i Inc Growth (J 
[tn Accum. . -K 


- 1893 +04 - 
373.* +22 — 
147J - 

124.4 - 


■ ^Mfqy.Vc' rage) 


^ACTUARIES INBrtCIS 


G.T. Unit Managers Ltd.* 
Id FinahtKT Circus ET7M7PD 


June ;A Tear -I 


.'•/ ^ 'Bid, *M *.ut-+oi, - £ 

- ui '■ '-'-'x— i— ^^rereMaragra Mnam ■_ . . . 


WP-r-W , - SrS^SwlZZBSfi 

Vmtanigh Pension* Limited Do. Accum. &132 

i*i^ J&dlto SLi4ta^9LA oiroroa p^rdt. unit 

!tej«od_- — (S'? 104 ^ -a3 - PSxhamEmt Dorking. 

fSrf jrtSrreCZ: 9*7 99^+2^ — Friend* Pnw Uta. WXd Md -OJJ 

fro£eri£“~ZZ.j96> lOlij +02i — Da Accum. 153.9 57.6J-02I 

Guaranteed see las- Baa* Hate** table. Q f Managers 1 

IfeUare Issuance Ca Ltd.* laFipaherrctrcwEczHt 

3hoLeanFtaIkat<mrt KenL 0X037X0 GT.Cap.lnc. J82.7 

. : llsnriwirira Gro-IL - . £? >*£ SS.T 

Windier life Assur. Co, Ltd. ect. Pent&cFii — IMl 

refegM gfStffijy 3M* j iillr — G. A A. Trust IflMg) 

Fua uw^ TOOai-l MU | ■“”■} Z 5. RaylclEh Bd . &rr Tit+Qbd 

ncaLl&v. Growth ..bfAS ULH , — 1 — O.itA P2J 


L * y Milton Ci«»ri. lw:1ltn 1l. Surrej. »1' l b'TSB General 44.7 

Friends' Fttrdz. Unit Tr. Mgrs.* xoi«ar.. -S® 3 5J.«-oi| 4ji jh.rv, ..\rvmn .. .. 55,7 

PtahamFnd Dirkint 0006M55 NtldarHic 11 l3f *150.5 63l|«-0j| 7.94 ilM TSRInrtor • ® J 

Fri^wSc.Uta. [4X0 44.6rf -0J| 4J1 For ^ B L L0 MU^ )B l 5 J? IUi:tfS ^ 

Do. Accum. 153 9 57.6J -o2j 431 s« RothKhiW Asset Managemeni .bitwi ucum . . iOT-4 

G.T. Unit Managers Ltd.* Norwich L'niou Insurance Group «b! L , lsWr Bank* (ai 


S: 5 )=SJ| 


se.a -oil 

9521 —0 i| 


w— Eastsrvs*. 


’si A 


U 


Arbutbnot Seeuritlw iq.L) Limited 
P 0*01284. S: Hehrr i-r.rv 0534 72177 

Cap Tc.iJmcv PI50 Head-. 1 423 
Ned dctllre <to>+ 1 ,ne 20 . , „ 
E«st*WlT«ii.T IU60 USUI -I 3®» 
'in ( Kb S’lrie 22 

.Anstrallan Selection Fund W 
Uarkrt Oppon um:i*+ e o h.) Ynung 6 
Outfiwaiic. US. Kent .": . P*dn«. 
l*S$i Share*.. I SLSI53 (-0321 - 
Net Aste* Vai jc— 

Bank of America Intersational S.A. 
35 Boulrvard RoyaL Luxrrabmirj G U 
Wldimroi Income. (S'.. qi!£T '.‘JUI-D33 6.49 
Price* at June 9 Next Mih d*r June 14. 

Bak. of Lada. A S. -Vaierie* Lid. 
40-tiB, Queer. Virtona PL, E’Tt 01-P002313 
AleupdrrFund.. BV5725 _ I....J — 

Net »*ct ialuc Juce A 

Btmqoe Bruxelles Lambert 
2. Roe De !a Reficccr Ft iom Bxiuwrl* 

Renta Fond LF ....11850 3 90*1 +S ia 

Barclays L'nl com ini, iCh. la.) LUL 
l.irbarlagCttw.SL He!‘.c:. Jn-.. 0S34 737*1 

Oremeas Income (48 5 51 W | XI fl 

UnWbllarTrua .. . KTS32J9 llM _ .i 4.15* 

UulhoodTruM l5Vfl»P Mg ...J *00 

•Subject to fee and wrthholding taxes 

Barclays Unicorn IbL if. O. Mbs) Ltd. 

1 Thomas St, Dougin^ toil D82448M 

L' me ora A us. Ert .1533 57.* - 3 50 

DaAurt.Mic. 37.8 SUi ._... 178 

Do.Gnr PacJDc ... 5L5 to J) 7- 

Do. Ina Income.- - 383 41 9 * *0 

Do. I of Men T*t 463 498 *" 

Do. Mens Mutual-. 36.1 28.1} 140 

Binhopsgate Coaunodlt-.' Scr. Ltd. 

P O. Box 42 Douglas . l.o M. 0624-2381 1 

AJUIAC -Mar 3 . BlJfflJJ tot* -•.... ( — 

CA-VRHD"JllDe5 CLlSft ; 32M I — ■ 

COIfNT**JuneS . -!e2-512 2btS . .J X97 
Originally urued at *iln and "*£.! 00. 

Bridge Management Ltd. 

PO. Bee SOS. Grand Cayman. Cayman U. 

V’hjubiiufleZ I 1X3 335 ( .... ( — 

GPO. Pox 300. Hong Korg _ , 

Nippon Fd. J erne T..BI S15B Ji7* 0 »2 

Ex-Stock SrliL 

Britannia Tat. Mngmt. (CD Ltd. 
30BathSuSt.BeUer.Jmo-. . '0S3473U4 


King & Sbqxson Mgrs. 

1 Charing Crou SL Hri ter, imrr. GSUfi 7 0761 
Vxilpy 1 ton Si r+:cr Pun Gro?». .'34811 SS7C8 
] Tnortta alrcCt.DPOSib*. 1 0 51 .03241 4833 

Gill Fund (Jcrscii-|9 21 92N . Zl 12.25 

Treat -t o M i 133 2 1052 J J 1L2S 

1IIJ1 Fnd. Gucnw> (£9.71 9731 . | U25 

Ina Gan. See*. Tu. 

F>rt Sicriisc |i*11 »2* ... I — 

Fra HU (US S3 1M 7*l . . . ) — 

Klein wort Benson Limited 

W-FcnckurchPuECa C1JQ3R9B 

EunrwcM hnx F. 1061 I -II 33# 
Guernsey Inc . .63 3 57 J, ... . * 17 

Do Accum. . .. 78Z SJfl 417 

K3 Far EaalFri SUSlObJ ! „.. X32 

KBJoU.Fdrd ..._ SCSI 1 75 }... J.» 

KB Jspnr Fund SX51124 .„.. 0.88 


... | 

..pZ 83fl 

5VS10« 


K.B U^. Girth Fd 


KB Far East Fd Sl'SlOoJ „.. L9 

fLBJnU. Fdrd ,.._ 5CS1I75 ... 3.S6 

KB Japar Fund SIS3XZ4 .... 0.88 

K.B VS . Girth Fd $l'S1195 .... 0.75 

Slew* Bermuda SUSS 33 SVS5« -5 53 1« 

*Lrjitad.*lDMi_ - tB45 190 .... 8.76 

■KB act ai London paj-bs ageota only. _ 

Lloyds Bt. (C.1A vrr Mgrs. 

PO Bo* IDS. Sl Heller Jersey CSACTSSl 
Ll i?t da Trt O-MB*. |55J .58** . -I L2B 

Vcvt dealing dote Ju.ic 15. 

Uoyds Joieniit/ogal MgmnC. S.A. 

1 Rue du Rhone. P.0 Box 170. 1211 Cenero U 

Lindsint. Growth. (sma sei* j ig 

UydalRtlRC- ...-ISKitt Jtoul | 6J0 

MAG Group 

Three Quayi. Tower HUI EC3E tSQ. 01-090 SB 
AtfaaiJcJuned .Bl'JSJD US . ... I — 

A tut. Fa Jane 7. .(SL’SJIS l*g . ... — 

Gold Ex June 7. Svsita 958 ■ - - 

Island . H26Z- 73*5 -0 g *5 If 

(Accum UnlUi.. ..173 4 124.6/ -0.7] 53 « 


_ 1 Samuel Rfootagn Ldn. Agts. 


01-980 S4M 

n9 ' | IS 

iird 201 
561 - • I 4 75 


Sterling P re aori ara +d Ftto. 
Growth Invert (32.9 


avert... - (32.9 


3SM -D Ji 4M 

1 2i*i IS 

. J iS 12.00 


01-2483800 

SMjxO.lDi 552 

sa+o-ia ms 

IS -3 558 


-OJ^ — • 


In ad Fd (76 6 iUK . J 1 00 

Jeroey Energy Tat. .1133 0 1*42} j 150 

VniroI.STat.Sig. -K225 jjj+OOa IBB 
High IntStlg Hat- -1^573 . Ut| ... ] 1200 
I'd Dollar DeMotairt Fda. _ 

VnlvaL ST*L .. ...-jlUSSS i«-0DlI - 
lnt High Int-Tat- -isrsiiu LM 1 900 
Value June 2 Nexl drallDg June 12 
Brown Shipley TsL Co. (Jersey) Ltd. 
PO Box 963. St. Helier. Jcracy 0KH747T7. 

Sterling Bood Fd |£9.91 9.96* I 12.10 

Butterfield Mauagemeat Co. Ltd. 

PO. Box US. Hamilton. Bermuda. 

Buttreu Equity — |2J3 2551 I ITS 

Buttrco Income _|2JI3 1.95/ .... 1 7J8 

Prices at Hay a Nat aub. day June 12. 
Capital Intenmiocal S.A. 

37 rue Notro-Dame. Luxembouig. 

Capital taL Fund.. ( 51IS17JB J I — 

Charterhouse Japhet 
2 Palornoaier Row. EC5 0142483800 

Adiropa DU39« sM+O.lDi 532 

Adivcrbs - DU4150 £3+9.10 518 

ForuUk DKT-7B J3«j 599 

Foodia— WOUI 2Sid 538 

Emperor Fund E5J.I1 3W ... . — 

SSpaao... .... iR'sea C A 224 

CUce Investments (Jersey) ZJd. 

P.0 Bos 320. St. Helier. Jeruy 063437381. 

CUvo Gilt FA. (CXl . (9SC 9.W] I 1X08 

OivcGUtFd.CJay.1 »M. 9.87| .....( 1X80 

Cornhlll Ink. (Go ere Key) lid. 

P.a Box 137. SL Peter Fort. Guernacy 

IntnL Man. Fd 11680 183.0/ ( — 

Delta Group 

PO. Box 2012. Nunn. Bahama*. 

Delta Inv. June 6- (57.93 XS2 J — J — 

Dentscher Investment-Trust 
Postfach 2085 Biebergaasc 8-10 8000 Frankfurt. 

Concentre (DM1940 2&7BJ I - 

InL Rentoafonds ._]DMH20 71 Aw — I — 

Dreyfus Iuterconrinental lav. Fd. 
P.O. Box N3712. Nawau. Bahxnua. 

NAVJaae6 .,_(H3HN U*J| I ~ 

EmsoB & Dudley 'hLMgUwXli 
P.O. Bo* 73. SL Heller. Jersey . - 053420501 

E.DXC.T. (2J7.2 LM6/ ( 3M 

P. 4 C. Mgmt. lid. Inv. A*rtaera 
1-2. Laurence Pountney Kill. EC4R OBA. 

01-823 4880 

CcnL Fd. May 31 _.J SUSS 23 | | — 

Fidelity Mgmt. & Rea. <Na.) Ltd. 

P.O Box Bit). Hamilton. Bermuda. 

Fidelity Am. SUS25J2 }..-(- 

Fidelity InL Fond J Sl'SUI +0^9) — 

Fidelity- Pac. Fd 1 SUS4497 ...j’- 

Pldelliy WrldFd— [ 5US14U2 |-0X2} - 

Fidelity Mgmt Research (Jersey) Ltd. 

Waterloo Hae. Don SL.SL Heller. Jeracy. 

OS34 27361 

Serio>~AdnCaL)-_| " DJS |-0J7| — 
Series B (PoeiflcX-J J7M .. - J — 

Series D (AKLAnjl E382W | J — 

First Viking Commodity Treats 

O, SL George'* SL, Douglas. LoJX 

Q6M 4<B2 Ldn. Agta. Dnnhnr ft Co_ LuL 
53. Pall Kali. London SW17 5JB 01-9307867 

Frt. Vik. Cm. Txl P7-7 397] I 220 

Frt. WDbLOp.Trt .. pEM Dost . — | L78 

Fleming Japan Fond SJX 

37. rue N'otro-Dame. Luxembonre 

Flat JuneB / 3U54679 ( | — 

Free World Fond Ltd. 

Butterfield Bid*. Hamilton. Bermuda. 

NAV May 31 ) SUS1792S | | — 

G.T. Management Ltd. 

Par* Hit, 18 Flnabtny Circus. London EC2 
TeL 01-m 8I3L TLX 889100 

J o n do n Aaenia Bor; 

Anchor yuatta.. 

Anchor Gilt Edge 
Anchor InL Fd 
Ac char Is 
Berry Pnc 
Berry Pac 
G.T. Aua Fd- 

G.T. Asa Suirila*— IQ295 13 W 

G.T. Bood Fund [5US124; 

G .T. Dollar Fd. } SU57J8 

G.TJ*nclacFd 1 SUS12.76 |-B 

G art more Invest Ltd. Lda. Agh. 
a SL Kary Axe. London. BC3. 012633531 
Gartmore Ftaad Ma*L (Par East I Ud 

gg.4^ 

JnU BoodFued — PDBNK U5< I 5.70 

Gartmore Inroabaaat HngL LuL 

P. O Bom 32, DoagtasjoM. _ aK ?“2%, 1 

Grtmrc Inu Inc ZZ[Z1J 229nJ .. 10. W 
GrunrludGrth (S5J Wj| .. 1 4J» 

Hunbro Pacific Fund Mgmt. Ltd. 
2110, Connaught Centre: Hong Kong 

S2KS!!=BM ?3: J - 

Bambroo I Guernsey) XidJ 
Hambto Fund Mgrs. (CL) Ltd. 

P.O Bor 88. Ctrornacy M91-!ffla 

CXFund — 11 42.4 15X7d 393 

IntnL Bond SO 5 20492 28BJ2 . ... S.eS 

InL Equity JUS 10.93 1X271 230 

InL S»gt ‘A’ STS X02 LOS 8 » 

lnt SvgB. ■B’ SUE 1J» 1J3| .... 250 

Price* on June Not dealing June 14. 
Henderson Baring Fund Mgrs. Ltd. 
P.O. Box N4723, Nassau, Bahamas 

Japan Fd. WKU3S URi . J 

Prices on June 7. Next dealing dJ£<- June 14. 
Hill -Samuel A! Co. iGneniseyi 
8 LeFebvre SL. Peter Port Guernsey. CJ 

Guernsey TaL R.482 158ftd) -0 51 355 

Hill Samuel Overseas Fund SA 
37. Roe Notre- Dame, Loacmboun: 

IS1958 23231+0^ - 

International Pacific Inv. Mngt. Ltd. 

PO Bos (1237. 36. FUt SL Srihara. Ausl 
J avellQ Equity TsL-IS2.U 22JI-8J1I — 

JJE.T. Managers (Jersey) LCd- 
PO Bov UK. Royal TSL Has, Jer*ej(>534 27441 
JeraeyExtrnLTrt_p5X8 ' 173 0 I - 
As at May 31. Sext sab. d«y June 30. 

Jardine Fleming & Co. Lid. 

«8th Floor. Connaught Centre. Hc*ng Ken* 
Jardine E sul TsL_. | SHK254J6 | . | Jg 

JaitfirwJ’PO re.»- SHK3M.8U J I ?-3 

Jcrdine S.EA 1 SUSX4JR 

Jardine Flem-lnL-.j JHCT.78 ) [ — 

NAV May 36 l Equivatont SUSS3.48. 
Next tub. Jana 15. 

Keyselex Mngt, Jersey Ltd. 

PO Boa 86 SL Helier, Jersey.. (Ena oi««W7tn 

Foosdex — — JftaUA ISA .. 4 300 

Bondadex FrilWH 135 S ■ • — 

KcyselexinCL £528 7.8M .. — 

KcyaelH Europe... £3M 43S-C IT; 3.77 

Japan Gth. Fund IUSB 17 SJ*1 — 

Rcyselet Japan .— UUI liM-W - 
CenL Asset* Cap -..[ 03344 |+0«3 . .. 


1 1«. Old Broad 5L.EC2. 01-588 5484 

Apollo Fd Mgy 31 .)?F*7 83 SUM 3.62 

j.prcsiMsj'ji . aoaan ;lm ... 115 

11. Grp May 31. — R3KB linj 2 01 

117JerocvMnv]7 . £5J2 56l| .. ■ 8 75 

117 JraytVs May 34.. 02.18 lid — — 

Murray. Johastoso- (Inv. Adviaari 

163, Hope St C2 041-221 3G2L 

-Hope FI Fd ... PfKS !....( - 
-Murray Fund .. | SUS10S3 [ .. ..J — 

■NAY May 31. 

Neglt S.A. 

10s Bouleeted Royal. Lutmtorarg 
NAV June 2 I SL'SIO 47 ] 4 — 

Neglt Lid. 

Bank 0/ Bermuda Bides.. Hamilton. Bnnda. 
NAV June 2 (£5.01 — ]-OJO| — 

Phoni: Isteraatlonal 

P0 Boy 77. Sl. Frier port, Guernier. 
lnter-Do!:xr Fund (5239 ISO ..../ — 

Property Growth Overseas Lid. 

23 Inst Town, Gibraltar iGiMOIH 

U21 Dollar Fund.. | 3fW559 I .... 1 — 

5tcriingFund. - .} £123.77 } ( — 

Richmond Life Asb. LUL 
46 Athol Street. Douglas. LO.M 0624 23814 

ixiThc Silver TmsL 1109.4 U2JJ -1 0 — 

Richmond Bond 97. 152 4 192.0 +1.6 10.61 

Do. PlBLlnmnBd — 124.9 13X5} -0.7 — 

Do.GoldBd. 104.9 110.41-06 - 

Do. Em P7U2 Bd. . 167 9 175.7} +X0( 1X51 

Rstiweiiilii Asset Msoagemeiit /CJ.) 
P.tXBo* £&Sl Julians Ci. Guernsey 0*81 28331 

2 50.71 277 

7.1 155.M 7J1 

L-« X23 . 

1553 325 

132.G 1C3.71 — 458 

.85 27.«tf| — 

. nt dealing June 14. . 


O.C,Bq Fr. Kay 30. 

O.C.IncFd June 1 
OCJati.Fd. 

O.CfimCoFdUy31. 

O C. CommntB IT* . 

O.C. Dlr.Coicdty.f 

■Price on May 3L No! dealing June i+_ , 
t Prices on June 7. Next dealing June 22 

Royal Trust (CTl Fd. Mgt. lid 

P O. Box 184. Royal TsL Jtoc, Jersey- 053427441’ 

R.T. IniX Fd. (SDS920 95»d | XM 

ILT.InrLIJw.lFd J91 , 95rtl ..... I 321 

Prices at May 15. Next dealing June 15- 

Save t Prosper Interactional 

Dealing lot 

37 Broad St, St. Keller. Jcrrey 0534-2DW1 
VJL DoUar+tonomlartcd Fnath . 

DirFxdlut— June 0. (9 17 9 73d 7X9, 

IniemaL Gr.-t 1582 7^1 . .. — 

FarEasIcni*? D327 4X391 .. . — 

North Amen can*t -J3 78 4091 — 

Scpro+'t (a.M 1S33| — 

2 «jj +» is 


154^-02 SIM 

U3.7f +0J( - 

U4.«nj . T 1XB4 


Cbarmri Capital*. .C32.3 2*5X1 -0« 163 

Channel Islanurt.-Rtt-S lMJJ -OXl S 04 
Comrood. Jane 1 — (l27 0 133.7] +0J( — 

SL Fixed June 1 — (107.9 115.4a} . ,.| 1X54 

Prices on -June 5. —June 7. —June 6 
tWechlf Dealings. 

Schleainger Inter n at ion a l Mngt Ltd 
41 . La Motto St, SL Heller, Jerrcy. 033473362 

SAIL BS .... BOA 

GiUFllZZZZZ; 225 2^45 

S£iSMSar:P« dr: ~Z 

•Far East FL-od — M3 SSJ Ara 

•Next sub. day June 14. 

Schroder Life Groap. . 

Enterprise Haase. Purtamouch. 0708 27738 

Zntanudletnd Funds , 

CEquity U7X JM.3 .._. — 

124.0 1TL9I — 

filled Interest.— 134J M2.S — 

SFbcd InteresL — 105.0 1U.7I — 

tUnnaged 1284 l^S — 

Slaonaged (L.42 IZLsj — 

J. Henry Schroder Wage * Co Ud- 

120.Chenpride.EC2. 01-5884000 

CbsnS Junes I SUS128? J-O-Ofl 2.41 


Sea try Axnrnce Intern Blioiial Ltd 

P.O. Box 3SS. BamlUoa X Bermuda 
Manaced Food (IHSLMB 19H9| I — 

Singer & Frledlssder Ldn, Agents 

SO. Cannon Sl. ECA. 012<8B»C8 

Dekafendj pWSJS JtXf J 6.«. 

Tokyo Trt. JuneX-(SUS55B0 I .. I LIT 

Stronghold aianagemest limited 

FO Bo* 313. St. HeJicr. Jersey. 0534-71488 

Oinnaoditr Trust- 192-95 97.25] | — 

Sorlnveot (Jersey! Ltd. (il 

Queens Kte Dmb. Bd. Sl BeJier. Jar. OSM37M* 

American lud-TsL.-IO to _XCJj-PB4) — . 

Copper Trust — }5l^[ lxH-081 — . 

Jap. Index Tst - —HIXSO lX74|-984l — 

TSB Unit Trust Managers (C.I.) lid 

BogsiellelUX.SLSarloar, Jersey OEMTMH 

Jersey Fund..- — f*JA 58. lj | 

GucmaryFund— -}CT.6 50Xj | 4.71 

Prices oa June 7. Next sub. day Jane 14. 

Tooyo Pacific Holdings N.V. 

bttaii ManMement Co N.V. Chracao. 

NAV per share June 5. 5US5X30. 

Tokyo Pacific Hldgs. (Seabouri) N.V/ 

Intiml i Uanagenxvt Co. N.V, Curacao. 

NAV per share June S. SUS3&M. 

Tyndall Groap 

P.a Bex 22X Hamilton S. Bermoda. 24788 
OreraeaaJnne? — E-|S12 HS •• • I k -® 8 

(Accum. Uni tai—...m&2 US [ — 

3- Way IaL May 18 _ [SUSZ5B m( . ..l — 

KSetrSL. St Seller, 

T0FSL JuneB. - 
(Arrum. Shsresi 
Americsn JuneB 
1 Aec urn shares • 

Jersey Fd. June 7 
(Non J. Acc. Uts.i 
GUt Fund June 7 
(Accum. Shaves) 


853937331/8 

S 6 03 


KaeafB£aa.C884SC!Z2 
0 13X8/ .. J — 


Victory Area. Droelaa pee et Kaa. 404 M I Zl 
Managed Hey iaZfl».0 13X8/ .. J — 

Utd IntnL BSagmnL (CL) Ltd 

14 Knicarter StreeL SL Holier. J error. 

U.t.B. Fund inSBA 19Ufi| I 8.1S 

United States Tst. IstL Adv. Co. 

14. Bus Aldringer. Luxembourg, 

US. TsL lav. FTid | SI?S1B.W l+D.W Ofll 

Net asset June S. 

S. G. Wsrfaiui Je Or. lid 

30, Gresham Stmri. SCX Ol-ODOCSSS 

CnvRcLFtL Jure 8_l STS9to_ l+Oifl — 

Entri\ lot June 8 1 5T.lfilT.10 j-ft071'_ 

Gr.SL5Fd. Apr.3L...I Sl’SVJ } — | — 

14rJSar.June • (UJS 10.47J _... I — 

Warburg invest- Kagt. irsy. Ltd. 
l.ChannpCTow.St Helier. Jsy-Ul 053473741 

cMFUd.M»-a _ (srnia £W - 

sEeaaRrM iff = 

SSESfc.rj®' ::r = j 

World Wide Growth MaB^ement* j 

jin. Boulevard Rotnl. Luxembourg. 
Worldwide Gth Fd! SIS14.93 f+OJOf - 


}, Greabnin stmrt. EC+. ui-uww 

QvJBtLFd. Jure 8_l SrS9.6& (+S-S3 — 

URr. Inc Junes I 5T.lfil7.10 1-0.07 

r.SLSFd Apr.3L...I «,’» J .--- - 
lrXar.Juue • (UJS 10.47J — — 


NOTES 


Prim «jn niu include i premJ 
Indicated. Yields “w i&hown l 
include all expenses b To-d 
opening price, b Distribution 


-0: 629 
-0.: - 
+0.1 10m , 
+01 — 
-QJ 429 

-04 793 

+01 2X3 
501 


Chanlra w ®r- kadover Hants. 0K4 02180 
Draiihip: to 03J4 034X1-3 


WT Index GSIfed OfSIJ 35S8T iepicmber Coffee lToa-17 

29 Lamont Road'. London SWiO OHS- 

1. Tax-free trading on commodity futures. 

2. The commodity futures market for the smaller Jcveslor. 

CLlVii INVESTMENTS LIMITED 
1 Royal Exchange Ave., London EC3V 3LU. Tel.: 01-283 1101. 
Index Guide as al 7ih June, 19TS (Base 100 at 14.1.771 

Clive Fixed Interest Capital 12R.93 

Clive Fixed Interest Income 112.91 

CORAL INDEX: Close 463470 

INSURANCE BASE RATES 

♦Property Gro-ih 

tVanhnigh Guaranteed 9.50'^ 

* Ad-ft-pro" ihn-cn >tn<1' r lniunn ." ir.il Frt.i»;r:v pnnd T a hl». 


fee 1759-1 1 1 


.1. M.-— » IMD7 .. ... ... Wannc Street. Bcllto*. *,izx:.i523i 

.S:S:S| !.S SS^-S-HSWT 

2956 +33 X30 HoT - — »■» » 3 ' 4% Knar- Hro Funa - 115X8 J60 01 . 1 4 24 

1*1 - c 40B ^™” n l f mL . .3 L 4 33 3 ; 675 Wider Grih. Pod 29 3 

SW -« 5 13 Pfe^iunrtTW SB 5773 / Do Act urn . . . _ I* Jl 

56J "" 7Ja i.tcnim l r.:i* - - W-2 ASn ... 5.30 Wirlrr Growth Fund 

Pelican l pits Admin. Lid. fgMxl k, up « ti i i+ra si ei.' 4 .i aAR 

(0 277 1 227300 »1 Fountain *■' '-anchertar tal-ZlSWift inriwnr L'nlW .. |29 3 
SUM ,,_.4 645 Peliear- 1 n»t- 1®-* 89.01 J 3.10 Accum-Lnita — .'.lJs.Q 


01-0334901 

J 4-35 
J 4J6 


Ll . . 





FT SHARE 


Henry Boot Construction Limited 
Sheffield Tel; 0246-410111 


♦♦BRITISH FUNDS 

I Rice ILjs <J 


BONDS & RAILS— Coot. 

lateral Price Last I Piv <c I Bed. 

OtK Stock £ fl I Gross [ Yidd 

U i WJapan 4pc ' 10 A&- 36(hd lfcl - 

30J 31D IVifipc ‘83-88 71 5 ll 6 

1A 10 Peru Ass.3pc—. 155 3 3 3 

30J 31DSGI Sax- IS80 75p 3 1 

_May I Tnnn9pel991 S94% 2.5j 

150 TurinSjpc MKH DM91 17« 

1FJLA.N. Unigw>-3%pc % 2jj 

U5. $ & DM prices exclude nv. S premium 


BANKS & HP — Coclinucd 


YlcM 

lot. i Red. 


AMERICANS 


u Shorts”(Iives op to Frn Years* 

14Ju]Treasui?10%p: , 78tt.-| 100 Ami! 7 tllO 4S | 


14Ju Treasure I 0 %pc ’Tatt- 
le Ewft.5pe"®$ft 

9M Treasury IFjocTBii-- 
ITS TYeasujy 3pcTKS 


26S Elrctric-P«pc7+19 

I X Treasury ItSjp: T«t_ 100,1 78) 

1 5N Electric 3%pc 76-79 95* 10 - 

3U Treasur jpclfflK 97% al 

14M Treasury £l%pc HOti.— 9S ?J 

1SJ Trea^nr 31^77-80^ 92%fil 9: 

15J Funding Ape 93%Jd “S 

25N Esctiequer 13pc 1S305 104 ^ IS J 

15Ja Treasury I (%pc 201,2 =a £.i 

15F Treasury Ape 197S8L. 33% 91 

1 A Treasury Skpclfflltt- 97 232 

12J Each. iApc 1331 93/ s ri - 

4.A Ex h- %£ 1981 7> 12 

21 A Ej-.ch. 3pc 1S81 85*« Itl 

17?.' Treas. Variable 3 I$J„ 96% 104 

23S L-.ch 12’dpc 1981S 104 17 4 

15JaTreas» ; pc^«? 92%xd 86 

1 SF Treasury 3pc’82C 83% 91 

16M Treai urv Kpc lEK 1071! 7 2 

15J Treas, Variable "SI#}— 95%ri ail 

5Ju Treasury 8 %pc TE 91% <d It 

22 SE*cti.Apc ESC 92 ‘.‘ 4 132 

22* Etch. Ape 1882 A* 92 ’. - 

5J Etch, (ftpc 1983 91«d - 

21FjEtth3pcTO 801, yj 

lTMiTreasuiy I2pc IS53J± I9Z% 83 

Five to Fifteen Tears 


Years* “*«“* 

7 *• 10 49 9 67 *“ *** 

vo -E 17 J 506 8 SO Apr. Oct ASA 

101 A 511 U 34 9 J5 September A.MFS’iConv-W- 

95% 62 3.14 b 74 MaJuScDe AmaxSl 

95 ’-. 1 172 4 45 / 95 Jau\pJp.O. American Exprea. 

7&319.ta 10 ZB April Amer.»edic.ixit_ 
10- 3 55 655 December Asarcalnc— 


I Last Div. rid 
I d Gnu [CvriGr's 


97% 31 9 27 10 33 NaFelliAiL EakKlntaLCwp.Sl. 
93 7 4 9.59 10.56 HrJu. S. D. Barnes Grp- S&— 

2%«l 9 : 3.77 7.45 DJlr.Ju.SP. BeodriCoroSEi— . 

3%>d 95 561 6 3o MJe.S.D. Beth. Steel « 

04 IS 4 1245 10 86 IaApjy.0. Brown cFer.dlFj. 
L.5=n &■- 12 32 20W F^.AicN. Bruajmck TVupo.lt 

u 8 *e 9 j 3.95 £32 Apjy.o.Ja. Burroughs Crop S> 

97 232 10 05 10.99 MrJuSeDc CBS 52 30 


164, 65 «)c 
60%nl 155 S°i 
2?% 45 S1.75 
3Q7 S 4.4 SL40 
20% 124 30c 
13% 15 4(Jc 
23'atc 25 64c 
ITbxJ 35 90e 
32Sjd 66 SZ2B 
2 flrf 4.6 SI 00 
11% 163 40C 
13 164 70c 

631, 30 3 31.00 
474 277 S240 
424 Z7J S2 
46% 19.4 SI 
264 ».4 S2 
21m S5 c . 
959p 95 SI 

194 283 SI 
124 2B3 51 
214 33 S 
284 1?-* SI 
47m 25.5 S3 
26 2312 SI 


964 10 
104 17 

92%ri 6 

83% 9 

1071! 7 

95 5 j« ai 

914 (d 1 

w* _ 


1741226 11.29 MrJn-SJ>. Chrysler 59, 

66 9 16 1101 «*AuJf.F. Citicorp St 

91 3.56 B.20 MyAnJi.F. Crtyte.SL5 

72 12 99 1136 UgAoKS. Da Cm. Pit B SI _ 

ail fc.M 20.57 Fjjy.Aa_\. CoJeaie-P.Sl 

it 904 11.00 SfeJnSeDe Colt Lids Si 

132 9 98 U.42 JfcJtNJTr. ContIUu»i»SMI_ 
-1 9 9S 21.45 MrJe.S.D. ContC-il55 


, _ MrJe.S.D. Com. Oil... 

11.32 Apjy.OJa Crown ZelL 35 

I 3.14 MJn.S.D. Cutla--R 2 mnerS 5 . 
j 11-35 PJLA.N. Eaton Crp.S0aj__ 
3 A J.O Fs marie 

,, -- MrJu-S.D. Exsoni] 

nTS J-ApJy-O. Firestone lire n 

,2-1 Apjy.Clja. First Chica» 

1C34 MrJe.^X). Ford Motor 52 

12 07 MrJn-S.D G.ATX 

Apr. OcLGeitElecLSZiz — 

ljJ-13 MrJu-SJj. Gillette SI 

lf$f MrJu.S.D. Honefmell SL50 — 

4£ MJSD FTunon E F. 

MUeSepUc. LB.31Corp.5S 

11 9| KrJui.D. Ingersoll-HS2 

1J57 SDJMJu. im-S^teais&CTOSV 
-i |2 MrJe.S.D. U'Jatenutionalll 

12-58 F.MyAuN. Kaiser AL Sr 

ApJuOJa Mari. Han. USS750 
JaApJy.O. ."tercaniJPlliSSiS 
N. F. My. Aa Swton Suam Inc.SL 
MJn.S.D. Oseis-BLS3.125_ 
Ju OcJJA Quaker Oats USSB. 

March Reliance 9125 

J.AJ.O. Rep.N.Y.Com 55- 
FJfcrAuN. Renwn!S5 

S. D MrJn. Rididsa MtrllSl , 4 

MrJu.S.D SauliB.F.lSl 

MrJ&S.D. Shell Oil SI 

T4rJe5.Det S^eriTtOi 

AilN.FJIJ'. Swrrj Rand 9)50. 

UaJaSeDec ntWlncSlU 

Feb 1 J» .\a N® Tenneco 

tune Dec. Do. RTi Ln Silt 81-85 

T. Ap. Jv. O. Tesoro PLCSWJPj- 

MrJe^.D. Tc£acoS 6 S 

MrJu.S-D. Time Inc. , — 

JaAoJu-O. TransamericaSl 

MarJnSpDc Ud.Tech.SUS5— 
MrJeSJ). US Steel SI 



Over Fifteen Tears 

14J 14Jurrreasnrel2!3)c1i3tt_ 98'- 2 m 

ISM 15SFiradin56prlSratl__ 62^ 

23M 23N Treasury i3J«pcl»08 107^ 

1 S 1 M Treasury Wtfc llSU 

22F 22A E<ch.i:i«]9M 1021j 

17M TTN TreasmyVWtt 79 ‘ 4 

25Ju 25Ja TreMin'lSv Si 100> a 

IN l>l Gas3pc 90ffi 44', 

2Ua 2JJ Evch. lO-'jpr 1JW 83i., 

13M 15N Trcasur-' 12'«pc ’StiSt. 101*, 

13S LWln«M7toc 92 »t_ 79- s a 
3N ? M (Treasury TS>«pc'S 6 t±„ 1171, 

15N I5ME.cb- J ucrl3‘^9§tt. 104% 

LA 1 0 P-ecoapUcc 3pc I38i95 _ 43t, 

22J 22>a Treasury !3>.pc S7i^ „ 208% 

2 LA £!FE>:che7uerKJidKl997. 85 

1M 1 S Treasury P,pc 19B7{4_ 77% 

IX lM*Treasur. - 6jpc'95-Sart. 621; 

SOM JOS Treas. IS’pc 16# 12i > 4 

26 M 20X E:ch ISpcVS* 95% 

15J 151a Treasiuvfdyic ISMfct- 78 T >«d 

1SN 10MTreasurilCiS)el9®_ S&, 

14J l-yuFuKhng3^ , »0i_ 357,4 

5A 50 Treasury Ppcffi-OOS- 70% 

TOM 10S Treasury 5Lpc 'C8-12Jf. 49% 

35J 2 «ra Treasury Tipc'lZ JSg. 59 

12J 12D -idLlSpeu-liiUW * E96 

Undated 

IF lAlCensoli4pc. 33 % 2S131247 - 

1J lD-AarLoanULpeSi 30% 34111.61 - 

1A 10Com-.3:j*W A»t 54J a 23.31039 — 

5 A SO Treasury Spc 66 .Aft 24% L3112.53 — 

SJaAJaO. FrnnsolCiyc 20% «d 13)12.18 — 

1 A 10 Treasury d%pc_— 20% 252^12.49 — 



43 jifl Zb V 
23% 26 4 SI 
47%m 215 SI 
i4J 4 m m so 
216% 6.2 Sll 


13% 30.31 J 


MrJeSJ). ffoolworths 531; 16« 4 1331 SI. 

Ap Jj.O J. Sera: Corp. SI 44%rf 25il S2. 

— KonicsInclO: 85tfp — J 71 

OJa-ApJy. PapataCorp.25c— 12% lOfl a3 

S£. l'id Premium 49%^ (based on VJiSL 
Conversion factor 0.6708 (0.6722 


CANADIANS 


^INTERNATIONAL SANK 

15A-|Spc Stock 77-82 l 84 | U| 5.94 | 

♦♦CORPORATION LOANS 


Ma.SJ.D. 
F.My.Au_N. 
AJy.OJa. 
May Not 
OcL 


Nova Scot, — 

11 Canada S3 

« Valiejll 

ascanll 


l.A. BinD'ham8>,pc7961- 

IN Bristol "P epc (061 

25XGLC.l?iricB2 


10F iOAug. Oo 12%pcl983 

I5My llNGlaigw^pcTOe — 

22M SSNTHR&. Safe 7 B-9) 

LAp IOetJLr.BTwel ?ipc 76-78 

I5M 15Ti' Do flSpc-aWI 

1JAJ.O. Do 3Lpclrrcd. 

10F 10A Ixn.i,nrpi<?cc 73-78- 

LA. 10 P0 9»4PC««® 

23F 2aAur LCC. 6 pt .6-73 

I-5.M 15S DoSjpcTTOI 

15J i=U Do "--ire 82-54 

11 J lU? DtMfslBH? 

10 J iQJ Dofcipc’e-SO 

1MJ.5.D. Do 3pt -31 Alt 

15SS 13SMnM*>ip:ien 

lOMr. 10 5 . ;v.tasle'Vjr«:7 f -50 
15M !5N » STMck IStS LW-,. 


94% 3 

90% K 
101 % 23 


354NIT FjJyAuN. CenJrapJtS 

. jJ]7 Jan.ChnJacificSS 

U| 5.94 | 972 Inly Jan. Da4pcDeb.£100- 

, . J_A P Jy.O. Gull CSICanJ 

IANS ApJT.OJa. Hawker SidCanll- 

*' . FJMyAuN. HoHinierSo 

31 9.77 1130 Apr. OcLBudsc-n sBai ll 

L4 4 8.69 11.63 Jan. July Ha±ROiiilS&— 
54 1232 11.99 UrJe SJ). Imperial Oilfl 


105:2 10.11231 12.09 Jan-AoJ.O. Inro 

91% 20.4(10 11 1176 F3fv-Au.N.hnLNatG»Sl 

90% 74.4 5.79 1036 Mrje.SuD. MasreyFerefl 


Je.SuD. JMasrep FerMI- 


93% 13 £.83 9.96 Jane Dec. Pacific Pet SI 

93% 17.41035 1154 - Place GasSl 

26* L3 la.16 — June Der: RioAlsom 

99.i Ml 654 9.66 MJe.S.D. Rcjal BkCan Sl_ 

93% 1 ? 10.07 1038 SeDeMrJu SeapamCiCn— 

!t S* 6 32 10A5 FJSyAuN. Tor. Dmn. BEST _ 

SS 1 ; 152 fjb/G 10-ffi J.ApJv.O. iTnms Can. Pipe— 

i ^4 S.E. List Premium 49%*c (based on 

7fi 1212 1033 11.92 

23% 2: 12 % - . 


131, 25 12 % ! — 

91 15.- 5.77 10.91 IRAN 

95% 1": 9 71 U. 65 
101% 14.411232 1L71 Cvidends 


BANKS AND HIRE PURC 


CGffiONWSALTH & AfflCAN LOANS 


10 ■‘AusLfPjic’TS-TB 

LI •* Do. 3%pc 77-60 — — 

IO • • Da F%pc W -62. 

1 1 D **.YZ -Jpc 3S76-7S™__ 

28 A **Do.6pc TG-?) 

15D “DaTijr'SvSL 

LVStb. Africa 9idJC*3ML. 
10 Sth.Rbod.3ic ■65-70- 
15J Da6pc7B81 


997 : 536 

34% 282 659 10.88 OcL Apr. Alfen Harvey £ 1 . 315 13J 

>7%d 115 4Jfl a96 Dec. June Allied Irish 185 155 

94 ?0 J 6.49 10.82 Dec. June ArbutimolLD- 158 2811 

33% 155 8.99 1031 Mar. SepL EaokAmer.SL565. £1% 35 

94% 2SJ 1015 1L81 July Jan. Bt Ireland £ 1 — 378id 305 

53 " 366 — - Mar. Sept PalOpcCom.- Q72 112 

82 1765 — — May Auf Bkleumi IS— 18 E5- 

Aut Feo! BkLeund tUKJEl 160 30 


Paid l Stock 
Jan. JulylAXZSAl— 


j Price 
1 300 


8.90 Apr. July .AlesandmD.£l 245 
9.95 May Auc .AlmneneFlJOO £129 
10.88 OcL A pr. .Allen Harvey U- 315 


LOANS 

Pslilic Board and Ind. 


Last I Dtr I 
a I Net |( 

J213tQ12?c 
301 14J3 
284tffiSA 
I3J hl9.Z 
155 75 
2811 1925 • 


1 J Aerie. ML 5pc ^39 — 

OLD Alran!0%K , »94 

IS •“Met^tr SpCB' 

3IDVS.M.C PpcISRS 

31D Da iftiibciiit Warrants _ 


Jan. July 
Nov. May 
A. J. 0. Ja 
Apr.Oct 

8SS f 1156 Jan. July 


81m 155)12.96 13.40 pan. July Cater Ryder 
29% I L2| 10.45 12.15 (May Nov. CUveDu’nt 


Aug. Feb. BkLeuiritUBa 160 301 7J6 

Jan. JulyEk.N5.W.SA2_ 572 1212 «3 30c 
Nov. May Bank Scotland £1 288 174 1189 

A. J. 0. Ja Bankers N.Y310. £29% 303 QS3O0 

Apr.OcL Barelapfl 325 272 1113 

Uan. July Braira%l-y£L. 230 2812 9.27 
Jan. July Cater Ryder O _ 303al 305 1933 


F inancial 


— iFefi. Sept-Koml Aus.iS 


3DJ 30J **FFT 13pc 781 

IBM 1SS Do WpcT» — 

20J 2i]D Go Mpc TO 

31 Mr 30 S !<TC5%pe DefSi-e 
3 1 My M,\ &j. iVipcDo. 8i-5f .... 
11J 1U Dal[%pcUD 5 Ln.-?fi.- 
11 J • lUDo-llpcUnsLnW..- 
1 U llJDo liSrpcDusLn-VO... 
30 Je 31 D Bo 7%pcADeh.'8&-S2_ 
3lMr XtSDaVtpcAVb. M-Bi— 

31MT30S DoflBTA-MS* 

28F 3LA DoaSpcLn. ’SC-S7 


102*2 301212.69 U-84 May 
103 34 13.59 11-40 llan . / 

MKd 22513.43 12J9 _ 

81% 13.2 6 07 11.20 _ 

75% 124 834 1180 _ 

90% 311223 1330 _ 


tbianffltu-. 
France ra 


£17% 73 0125 
21 25 0.7 

£21% 577 Q5-87 1 
40 18.10 _ 
0161; - Q183 


88 * 2 xd| 155)10.17 1260 May CmrfzbbDRUOf. £17% 577 Qj 8 

- March rbpiHhkKrlfio £17% 73 Q12 

..-.July Oct Cormtbtan lflp„ 21 25 0 ./ 

.ret, 30 U 12.69 3184 May Creri. France t75 £21% 577Q537 

S? H-t 2 Ja °- Apr. Dawes iG.Rl— 40 18.10 — 

3-%u( 22:13.43 1289 _ tasietak BIBB. £116% - Q18 

81% llj 6 07 11.20 _ F. C. Finance.— 58 25 200 

75% 17.4 834 1180 _ First NaL lOn 2 974 — 

90% 311223 1330 _ DaWnts^ffi. % - - 

91 3112.77 1350 _ Fraser Ans-10p_ 11% 876 0.03 

2? H-SS June Dec. Gaiard Natal _ 176 25 817 

66 % Mil 10.97 1230 May Nov. Gibbs (AA 47 25 220 

63 1)2 1185 33.10 Mar. Aug. GiRctTBrosG— 21D 27115.1 

Wi L; 2U. £ 1320 June Goode DlMrySp O 17.4 0.13 

72 16- 1] 12 91 1350 \ ov . April Grindlays — 96 34 2.75 

April OcL Guinness Peat— 244 _ 301 tlO. 


FOREIGN BONDS & RAILS 


lLasllDw *| Bed.. 
O Grass TMd 


April OcL Guinness Peat— 244 30 

Dec. July Hambcros — . — 187 251 

Dec. July Hill Samuel 87 211 

— DaWarrants— 462 — 

Sept Mar. HongShnjuSZSO. 293 23. 

June Nov. JesselTcpnbee- 74 2 

Jan. June Joseph (Leo>£l_ 190 2BJ 

Feb. Aug. KeyserUUniana. 5Ld 30. 
June Dec. fOngtShasaOp. 60 15. 

May Nov. KlonwortRL— 98 3 

.Aug. Apr. Lloyds £1 270 27. 

Jan. Sept Manson Fin. 20p. 45 M 


17.41 0.13 
30275. 


305 0.66 
155 339 
34 «02 
2J2 9.D9 
301 t279 


Do 3%pc -Sl-96 



FINANCIAL TIMES 

BRACKEN HOUSE, 10, CANNON STREET, LONDON EC4P 4BY Dec. Jtme 

Teles: Editorial 886341/2, 883887. Advertisements: 885033. Tdegrams: Fuustimo, Lradmi PS4. ^ 

Telepbene: 01-248 8000. July Xw. 

For Share Index and Business News Summary in London, Bi rmingham, Juj? 

Liverpool and Manchestm 1 , Tel: 246 8028 
INTERNATIONAL AND BRITISH OFHCES 


EDITORIAL OFFICES 

Amsterd&m: P.O Bn 1S9S. AnaterimC 
Telex 1217) Tel: 240 555 
Si rraic ghaai.- George House. George Rood. 

Telex 338850 Tel: 021-454 0922 
Somu Press ha us 11/104 Heussaliee 2-10. 

Telex 8869542 Tel: 210039 
Brussels: 39 Rue Dncale. 

Telex 23283 Tel: 5124067 
Cairo: P.O. Box 204a 
Tel: 838510 

Dublin: 8 Fitzwilliam Square. 

Telex 5414 Tel: 785321 
Edinburgh: 37 George Street 
Telex: 72484 TeL- OJ 1-220 4120 
Frankfurt: Im Sachsenlnser 13. 

Telex: 416283 TeL 555730 
Johennesburg: P.O. Box 2128 
Telex 04397 TeL S38-7545 
Lisbon: Pnca da Alogria S8-1D, Lisbon % 
Telex 12S33 TeL 382 SOS 
Madri Jj^ fapron cala 33. Kedxid 8. 


ADVERTISEMENT OFFICES 

BirminchBin: Georee House. George Bond. 

Telex 338550 Tel: 021-454 0S22 
Edinburgh: 37 George Street. 

Telex 73184 Tel: 031-226 4139 

Frankfurt Xm Sstiucnlager 13, 

Telex 16283 Tel: 554687 

Leeds: Permanent Home. Hie Hendrow. 
Tel; 0532 4548W 


Viccliaiter. 
Telex AON 


teens House, Queens Street. 
Tel: 081-834 9381 


Moscow: SwWStiMtwhiaw 22-34, Apt. 25. . 

Telex 7900 Tel: 294 3748 
New York: 75 Rockefeller Plaza, N.Y. 10019. 

Telex 06390 Tel: (21Z) 541 4625 
Paris: 36 Rue du Scatter. 75000. 

Telex 220044 TeL a3B.G7.43 
Bio de Janeiro: Avenida Pres. Vargas 418-ia 
Tel: 2S3 4848 

Rome: Via della Mercede 35. 

Telex 01032 TeL 618 3314 

Stockholm- c to Svenska DsgbMdet, Raalambseagm 7. 

Telex 11003 TeL SO 80 88 
Tehran: P.O. Box 11-1629. 

Telex 212634 TeL 682698 
Tokyo: 8th Floor, Nihon Sdai Shfaribon 
Budding, 1-9-5 otemaehL Obdyoda-kn. 

Telex J 27104 TeL 241 2920 
Washington: 2nd Floor. 1325 EL Street, 

N.W_ Washington D.C. 20004 
Telex 440225 Tel: C20Z) 347 8876 


Hand w ater: Queena Howe, Qnaeu s treet 
Telex 688813 Tel: 061-834 9381 
New Yoxfc 75 Rockefeller Plain. N.Y. 10019 
Telex 423005 Tel: (212> 489 8300 

Paris : 36 Rue du Sender, 75002. 

Telex 220044 Tel: 23086.02 

Tokyo: Kasahara Building. 1-5-10 Uchikadda, 
CUyoda-ku. Tele* J 27004 TeL 296 4050 


I TeL 296 4050 


SUBSCRIPTIONS 


Copies obtai nable from newsagents and bookstalls mddwlde or on regular srihaTta tfan from 
Subscription Department, Financial Tini«^ London 























































































































































1fW ■•••■■;-.■ . 

frdSs'$ 



Tbnes Monday June 12 1978 



S3 



INSURANCE 


MtUcoA 

PiW 


Sack 


Jot. JimHBowriucfC.T.)_j 
; BnsZJ-i Bi K? _| 


831 8j r ._ . 

5.4 137 Feb. July 

, 5.7 7.4 May Sept. BntaanicSp 

33111.0(3.71 FJfl.S »■ QnxlMMdAa.il— 

4-S 7.41 4.8 Nov. May C.ian Union 

,...121 lan. July Eaele Star 

3031 — — Sin fc limbi.!!!?. 1 

.MX. June Dec. EkmUSSV'cv J 
7-81 53 Jan. June Equity fc Law 5p. 

Gen.MPiiion: _ 


July 

May Guardian Royal . 
Dec. HamfcoLlle..— 
July Hcrtb If-L. 1 20p _ 
Mar. HospHabiraoc. 
Apr. HtradaHA, 10p- 
8.4 1 Dec. June legal fc Gea 5p._ 
6.4 (SepL June Les.fcMra.10p 


^ iNov. May^ou.fcHafl.fip r . 


Apr.fUadfla Ihutei 30® 
jfiyjMflnhc-Wrap. 


IPboenir.- 


Mayl DaT-. 


MayffiadMlhlSp, 


MajjEcfniESp. 


OclIsmIb Forbes iOp. 


.{SsnLifebp. 


PROPERTY— Continued 



Div 1 

ITHI 


Pnec J 

o 1 

s« 1 

CVlGrsINP 

102 

15.5 

295 

5 31 

i 41 

64 

40 

j: 

1.2B 

3.4 

4? 

93 

168 

34 

«* IB 


8.5 


£16 

71 

r>^i« 


3.5 



145 

3t 

7 65 



RC 


1364 

355 

6.13 

— 

6.8 

— 


— 


— 

— 

— — 

£124 

15* 

im. 



r?3 



160 

27.4 

669 


6 3 



210 

155 

810 


bi 


216 

17 4 

10.17 


7.1 



325 

17 J 

20.0 


9.3 



2574 

f) ' 

4H3 

* 

:»t= 

* 

181 

132 

t9"6 

31 

47 

10.6 

155a- 

11.5 

l7.0 

Z5 

6i 

83 

153 

It 

577 


5.7 


92 

:s 

ri4 47 

11 

6.5 

li? 

1344 

as 

t64fl 

- 

73 

— 

175k 

?9 

hi 77 

4.3 

33 

10.5 

1*54 

705 

919 

21 

8A 

7.1 

184 

?5 

333 

4 .3 

27 

11.1 

‘9 

8)1 

3ft? 

25 

9.1 

63 

23&1 

305 

1?59 


81 

— 

242 

155 

1035 


6.5 


12S 

75 

R17 


9.i 


128 

75 

817 


9.1 

ro- 

145 

17 1 

665 


6.< 

— 

133 

U’ 

81 


8‘ 

w 

393 

3 

26.45 


7 .: 


405 

13’ 

959 

V. 

u 

131 

97 


405 

2' 

63 

7.< 

M8 

lsi 

20.15 



6.1 

— 

100 

7 

13.42 

_ 

5; 

— 

876 

25. 

tr 

— 

0.i 

— 

170 

3 


7. 



5Xr, 

2 

Ol 16 

- 

3- 

_ 

250 

L 

9.D 

2. 

5- 

>u. 


DhlM 

yud: 


Stork 


Men 


1“ 


Div 

VI 


Mar. ScptllButnwrty™; 
Apr. Sept. [InlrtniotK-an wp 
August Uenurn lined -~ 

July OctlLinUlnwtf 

Jnn. JiilnljmdSrt'-Mlp- 
Mar. Sr[il In 5s* CD? 13 
Mar. Sirjil.l lV.Wvftw ® 
Mar. Si pl.l Iv iPrf «nv ft. 
July Nov. (Law Land S'? - . 
Oct. Mar}]<rr.HIjvaJcSOr- 
Lee. Juneii-oa PmvSbpWp 
Apr. Dec lUm SbopPrep - 
Apr. Si:pUL.yiUunUd|>.L2)p 


Oct. 

Nov. 


MaricrtSM’.M- 
Hrlnmey U 

McKay Srcsj . 

MidhttrjtVLMpJ 


July 


(Apr. Oct 


Jan. 

July 

Jan. 

Jon. 

Apr. 


Nov.|Pi*nchet_— — I 
i.Hldf.&lBv. 


July 

Oct 

Aue. 

July 

Oct! 


lrp.1 nr. StFulOJ 


April 


Jane 


Jan 

Oel 

May 


MOTORS, AIRCRAFT TRADES 
Motors and Cycles 


I Apr. AuR. 
I April. Oct, 


..(ftijp I’urt'ship— 
lylPlpp 5; Hipt.'.V-, 
’Prop Siv IireSOp— 
RajJanProp-Sp- 
11 Italian. 


Boss k TcrapkiKl 


SnLlteUPP 3»P 
te-rendCllylOp- 


Siough Eils 

DoWtCom/W 


, , . — BritLeyland50p 

5.6 MrJe.SD. Gen.SCa.L'ni‘j_ 
£ Jan. July Lott* Car I Op — 
G-9>( August HdianiMn- Pp-- 
♦ I SepL May fiaCs-RnyttSim..- 
May Volvo KriO 


24 

250 

SO 

U 

94 

aits 


225 


Q34e 


i 

3.4MS.16 


17] 7.7 


, 2« 8.3} 

Q12%1 Oil rti 


Commercial Vehicles 


SliVk Cmvenn - 
SanlcyiBilav — 
S*ire Properturt 
DeMinbm’frcwn ConUr -- 
Apr. OrLrr«wn & Cily IOp. 
Apr. Nov.fi raHord Part— 
'l/JLiTi-pcrtr- 
it'id.Reai Prop - 
Warner EfUKo.. 
WararmHuv. 19p 
WebbiJosiSp — 
W’crinsterr.SJp 
Wlnsim EsU— . - 


Nov. April 
Mar. Sept 
20.11 Apr Ocl 
9.1 April SepL 
27.6} - 

July OcL] 


300 

i ! 

39 
205 
£160 
£140 
£340 
40B) 
248 
90 
59 
112 
l?1wl 
28 

45 
220 

T 

118 

46 

77 
302 
HO 
US 
292 
147 

* 

76 

6512 

U7 

78 
105 

36 

11712 

Ofcf 

250 

215 

57 

59 

121; 

104 

19 

248 

129 

267 

151; 

f 


301 M.6 
IS 5 J0.1 
677 IN) 
199 Th067, 
2811 532 
172 Q57. 


Z72l06»«^a43 

hi 


cJSU 

osjjsi 

72) * 


101 


0 


1 2j 2.6j 
ni? 

4« 


49.8 


272|Q10*lj 
395l 10 
1JJ 025 
155 00.81 
iSJt3M 
u3t 128 
303) tL 7 
871 

671 - 
13.2 Tl-41 
475 *-? 

132 L32 
155 ih 2. 22 
132 2.0 
153 1200 
g634 

1212 ♦«!) 
28J1 TL59 
1H2 d4.69 
50.1 tJ-88 
374 
47* 

272 610 
272 gl.O 
153 d247 
3110 *d2A 
1710 IL94 
34 tl-73 
1* 227 
1411 QlOSf 
132 b20 
272 3.95 


Mil 


28 11 0.82 
22810.01 
3.4 73.65 
£7*1 
27 3 5.17 
15 51 1266 
13JJ6.95 
Z7ihd0.48 
37W 

15 ill-27 


4.053-5 
n.7 
n.4 
17.3 
3.81342 
32 160 
14421 
7.7 ■?>*■ 
31 19.6 
Zl 37.8 
35 3 


0.4 




LOi 


36.6 


2-4j 


7-4) 


a 


Doe. W: 
Jua. De*. 
June Dec. 
Dee. A uft 
Feb. Oct.] 


3JJ O 
2.8128.6 
6.M4J27 
3.* 

3.3 391 
SX&Si 
ZW37.9 
Z44L7 


DJV. TRUSTS— Con ttoned ] FINANCE, UND-Conthmed 


m | t /u 

DtlUBO 

Pale 


Price 


Dhttafc 

Ptod 


sack 


Inv, 

rtSOp 1 

'lor., 

lor.ta In'.c._ 
edonoj] Tit_ 
Do. “8“ 

. , nmjibBbiuna.idi^i 

Dec Juw!c’ an - 1 

Do 'b - . - — 

Sept — 

Aug AprJC*ru« ln * 

S OKfer-- 

AUR. Mar. (flutter Trust 
Mar. 


335 

R2.49 

tL9 

t7.67 

TL63 




Mar 


Nov. Jui 
Mar. Sept- 


6Coo.be.. 
Do. Cap. ill) — 
fcFVr.br.. 
D«.|C»fcb;'rni}l~ 


Feb- Aufi.1; 


Jan. 


. ofOaionl..— , 
iverhoiueSOp.i 
lavs l'J?_ 

Jesda!ebT_ 

Da'B 


2.0 iUIT 
23*91 
3.7(11 3) 

i nasi 
Z8 46.9 
73 10.9 
2.9 28.4 
di%2 
1.2 522 
28 
43 * 

2.1 59.0 


4] 19.7 


Aug. 

Feb. 


Dee. 


AUEJ 
Jl 


Mar. 

January 
Feb. At 


3.2 412 
31312 
40 * 
4.7 13.2 


SmWd 
idnem'lfclnd 
IpEaSlUcion J 

tJapanJOp. 

'nars 

!us Inv 

_ lae'lnr.itWpi 
Do. 'Cap t lfrp_ 

(ureCorp. 

TsLlntLl 
Do. Cap. 5*>p — 
inionfcfiw. 
ijrtoo Con'd.. 

Do. Cons. 

DokFarEJUio.-ri 

Do Premier _ 
Vov" AtElDaali-est Inc S0p 

N OV.^Apr j ^ Ca;}iul L 1 ^ 

Icc&Uc. 
iburrh-.rr.Tr. 
Inr Df. £ 1 _ 


A ng. Ma t. 
Aug. Feb. 


Dec- 

Apr: 

May 

Apr. 

Apr. 


Aug 


l-5l 52] 19.9 


_ Feb. Ang.fRHJ’.fflWSs 1_. 
^ I Augmt (Fodma lSOp)-— - 


Peak Invests. IOp J 
[pboctons^ 

yaATtalerlOp.l 


107 

!6!th217 

6.4] 

3.1 

S7 

8*2 

Zfc7| 4325 
577 *6.5 

5.7 

29 

E.6 

77ffl 

M5lTt»39 

33 

7.7 

66 

li’5[ dZIA 

53 

4.9) 


SHIPBUILDERS, REPAIRERS 


Components 


5.3 

G3-! 

5.9|juno Dec' 

Dec. JunciSwan Hunter 
June J>c.h.’iHper.. s , 
Jan. May|VaBTOw50p 





Nov. AnsCis Eo-lOp 
ABoe.&ft!— 


I A July Jan. AW*- 
J,?, September Adoaobw 

lIUJ3 Aug. Mar. BbeBd&w.»_ 
i jcL June Brown Bros. 10?- 
Mar. SepL DsnaCwp-, 


June jlrmnSmillilOpJ 
I Dec. wkwadeLiPiq 
Dec. Utcssl ndv fl. — | 
| July Supra &gup IOp- 


I Oct. — . 
July Feb. [nnierfflg.. 
Jan. July ffibrt Breeden. 
Feb. Aug. WoodhesdUJ— 
May Pmift , A'»P— 


H- cwt ' aw kw-biic 

li^Ki 

■K Natbatr(B.i 
.'Aug.Nai.CW7i4 

knot! ia.es. 4%*P 

Biw ifeHeOfcZambra. 
.-Aug. Ned&Sp‘nraiMJp 
fipr. HewBpnp.lOpt 
_liar NeweytSoopO- 

Jj. Moicrts. 

F. PfertheraEng— 

A Nffltoa&WCLlOp- 
L NOiwSecji. Kipl 

S»Sw»5p-— 1 

feFtaaoceCv-ll 

lie A- Sl eet--} 


. 87 
)1L6 
4.7 

’■ 71nw - aassffif: 

July BSCStlOp 

Mar. Btaid Group 5p- 
Nov. RritCsrAntlDp 
July C&SS-lOp. 


56 

105 

64 

113b) 

339 

66 

2*4 

£231; 

202 

73 

329 

10 

IS* 

56 

134uJ 

72 

92 

90 


50J]d264 
1*11 4.91 
3* t2.04 
305 74.69 
153 204 
31 3.67 
11.4 IL06 
12.Z Q024e 
131 T4.21 


n 

M U 
303 
3* 
23 
3 03 
25 


53 

235 

025 

0.99 

t8.22 

1138 

399 

3.08 


16JL(fb3.4ll 531 


U.*l 4.4 


U 


L0| 

8 

4.0 


721 5.6 
73 *1 

f-f JSDee. Aus.[BritfcO)m.5gp- 

63 62 * lay Dec. CoannonUna. sup- 

22 ♦ OcL Jbv Fisher (J)-. 

8- 4 “■? Dec. May Furness Wlthytl 

64 143 jan, July Hating GibsaLLJ 
29 a 20 May Oct Jacob* (J.L)ah>-l 
12 13.0 11 Julv lAn.O'Sres.Frtnl} 

11.0 4.8 JdlL ‘July U!e Shipping-- 
Oct Ifcsn.lAnMsSOp- 

3.8 45.4 Mersey Dk. Units 

29 11.6 July llillonl Docks U. 
4.0 8.9 N 0V llay tVcan Transport 
4-3 163 Mar. SepUP.fcftDeWJTL 
43 5.1 aw 

II «|a5: 

56 5-0 J nn. 

7.4 « 


SHIPPING 


_. r J. P.40.Defd. 

Oct Reardon Sm 50p 

OcL Do. V.'SOp 

julylRuadanaCWi- 


299 

128 

358 

247b) 

152 

35 

35 

322 Bl 
220 
201; 
72ff 
118 
94 
82 
38 
87nl 


2811 

23 

17.4 

303 

17.10 

3.4 

677 

305 

153 


155 


a 


1.53 

8.17 

5.09 

dl.85 

337 

4.90 

510 


303(238 
825 
634 
+1.64 


1L64 

416 


411 


43 

69 

3.5 

5.0 
P- 

8.0 
14.6 

6.L 

331 


5^ 


upon 


21114 


8.6 


Jan- J' 
April 
Apr. No?. 
Jon. J 1 
Feb. 

Nov. Jt 
Ocl Ai 
S ept 
Jan. 

SepL 
May D 
Dec. Jn 
October 
May Nov 

Sept Apr- 

Nov. Apr 
Jan. July] 
May Nov. 


rain? Tr-_ 

L. Gciu 

fcInTere.il! 
ft N.V.Trer— 
fcSm.inv- 
lwCoa«i£l. 
».Drrdf0p„ 
'itrlac5<ip — 
_ iteCmiiesLl. 
[F.fcCEarwras. 
i Inv. Tsl_ 
SCK-.VS.- 
_ igcfcCc! — 
.U.G.l.T CRj J= 
Jaiefi be.. 
Da Cap 


OcL 

Nov. 


153 

(28) 

54.0 

1161 

0.9 

* 


Aug. 

SepL 


KW.IGT.Jipan. 

Apr.Gen.fci.o=uncL 


1.1 

Li! 5.9(23.5. 

^ 1 1 1.2 4 | Apr. Oct 

~ “JmtJilSD- 


(Graabawe20p- 
HacbroTMt — 

Fjrsp'.onTS-S? 

iKawFar.s.ri— , 
]bt bv. Istte. a 

Jnvtslz^atCfl- — 

IKasuitf , 
Ki&rt a. I??-] 
'KaobBlOp 
iLascKBlci 10* 
iLm.Ecn.Cr?- 
iLe-_ MerrSaaL— 

M.iC.Hii5S.a?. 

Novrab er(Ma-eie isrt. - 

*Ma.tlr. IRP.tSp- 

MarilLtfcKity 


| September 
August 

.... Wan. May 
5.6 262ljan. Nov 
52l26-2hiino Jan. 


KJlC2Bifc%9i 
lFdKtiW 


♦L67 


h2« 

13.43 




*551 


155 




m.6|(42) 
- (621 
H 9.2 


OcL Apr. 
Dec. Juki 
J an. . , 
Mar. Aug-] 
Apr. Nov. 


June Feb. 


Garages and Distributors 


SHOES AND LEATHER 


10.4 


July CaSyn*50p 

Sept. CobinrelBVS— 
Jmy CopSeO'JSj — 



73 


66 


16.7 


I 1 IU 61 I 


June — _ . 

July Dnttoofbranaw. 

August EdaOWU — 
March OnOeULswr 
May Hinges- Inv*. IOp. 

I Jan. June HsmsooftCJ— 
Jan. July 

Aug. AprJHealyiaiP— 
Oct ApritlBenjflJ»te.trtP.- 


~ 4Q |U ! 


137 


Dec. JuneGma 


9.4 1 


674 


2.0 


t324 65 4> 


ft 


22 3.- 


,22!9mo 


5.4 


m 


iiQ.: 


, September 
Dee. June 
May OclI 
‘Mar. OrtJ 





273435 
3W — 
13JM625 
1212 17.75 
303 213 
301 138 
17.4 1198 

132 142 
3.1 5.84 

28.11 d2.17 
301 tffl.7 
2811 t3.03 
34 437 
305 231 
577 143 
301 125 
17.4 d0.46 
153 d4.12 
305 439 
303 639 
TI2 1323 
174 Qlim 
25 d5-96 
303 135 
161 415 

133 3.47 
133 246 
174 60 
161 030 
1072 



(June 


lRb( 

&toStr.lBp| 


7. 7 1 Dec. JuWWtBtmllr. 


25 538 
263 1.65 
310 40.62 
574 . — 
3.4 0j63 
155 22 
220 


Sept Feb. Bsotb llnta 
April Dec. FoiitTOU-bvs.- 
7 oi-;i3ct June GanurSwitilajr 
i l ti December Bea dlm Si m iSp..} 
r2 in l Nov. May HlltawaJp 
i.Si June Dec. SShoes-- 
^S^invApr. OeL Lambert ER 

n.i Apr. Oct NewboJdfcBarfnJ 
Oct April Oliver (Gl 'A' — 
jp ty Jan. M*y Pittari Grp. 
ft I ft9 Feb - Aug SleadfcSnn A - 
67 6*1 Nov. Shtmcfc Fisher. 
July 5lyloSboc<. 

I SepL Apt. DinicrWfcElOp-4 
J Sept. May Werd White 
| February [Wearra Up 


511 


Jjuly Feb.| AD^one UJgr — 


17 

60 

57 

101 

37s) 

95 

67b) 

42 

Effa 


SSW 

66 17.' 

16 4.9 
52 7.1 
69 * , 

7 %? 

SeptiAbBtooROSO— 
Mar. Anglo Am.In.Rl 
I Fob. Aug. Ang. Dr's ImL 50c 
May Nov. EdwoiksiOe— - 
iberGnWFUs.P.2bc 
[July Dec. Gr'tnnu'A 50e_ 
Feb. Aug HuletfsCpn-RL 
Dec. May ORBaraanSOc- 
Primrose lOets — 


5b 

39 

62 

58 

321 = 


153 10 
3U0 4J9 . 
272 M3.89 
23j4.50 
303 123 
17.4 4.90 
305 t227 
3.4 3.17 
272 280 
113 187 
3.4 2.77 , 
161 thl92] 
133 t424 
m 172 
3.4 tallfi 
3.4 M3.96 

3i in 


20 8.9(7.01 
3.4117 3.8 

2410.4 62 
43 68 4.8 
7.9 5 U 29 
23 7.8 64 
5L0 53 67 

25 114 5.4 
3J 8.4 5.9 
27 69 95 
42 7.5 4.8 
16 7.4132 

2.410.4 62 

« 4.6 6 

3.8 55 6' 
83 7.6 4.0 

26 7.6 75 


Aug. Se 
July , 
Mar. Sept 
>pL Mar. 
March 
Jan. 1 
Mar. 

Dec. J 


Apr. 


SepL Apr.fl 
June Nov.p 
Dec. Jr 


Mar. 


SOUTH AFRICANS 


Dec. 

May 

May 


100 

560 
120 
80 
73 

330b1 
115 
390 

titer TreefcEB 'A’Skj 148 
Jnlyj&A. Brews. 20c_ “ 


Nov. 


Nov.jTgsrfWURl 


76 

560 

64 


272 
3,4 
«7 
13 3 

m 

30J 

33 

155 

113 


155(0 


■a 


420c 

tQ4c 

Q8C 


Q58c 


Q28c 

Qllc 


52c 



TEXTILES 


NEWSPAPER, SKBUSHEKS 


74 


42( 7.1 


rztz&rm 


86l 7.4 


1« 


$5* 



1 0.40. 


M60 




tl.43 7.61 3.4 


iia «y» 


35 


34 ri.76 | 


M}d47 


m 


63 


1531 101 


3.4(1 


34 


23275 


(Hill T8..00 


10 


m 


4 


82 


»J.t«5.|55l S3153 


Jan. Aug. , 

Nor. May « 

May Dec.L_ . 

Feb. Sept fcnnBrotao»-.| 
July ‘*yg l ackW£ C) - 

Apr. Oct Gortton&Goteh- 
Oct. May UopeOwnlw- 

K ffissasssfe 

Nw. Julv Mmhall CavJDp] 
Nov. June Newt Ini— 

Not. July 

iS. JS 

May Ocl Sharpe (WN). 
Dec. June Thomson. 




id 528 


11 ' 


Nov. JBnejDtd.Newspw^l 


2B3ll tl54 M 


43 


OcL Feb.lWebstertri . ; 


^3 402 
W 287 
Z72 t2J5 
D.i d4.90 1 
BLU 755 

3.4 458 
14 4.68 , 
33 711611 

1431351 
163M264 
33 «5 
1U 65 
14 7.26 
115 456 
25 B.9 
25 199 
305 245 , 
303 7167 
305 7*055) 

17.4 197 
25 13.98 

17.4 154 
33 71281 


SepL MarJAfliedTestile— 

Aug. AttasBros 

Wales (Jj3Bn__ 

Nov.lfeffaffiHi AlOp- 

UUC TVk. (B lackwood Mart. 
SeptfioaiStFalj.lBp| 
Jgiyj** - ' rT.k.i 


Jan. 

Dec. 

May 


""taast 


I Apr. 


28^ 


6.0 


CM? 


20j M 7-1 




PAPER, PRINTING 
ADVERTISING 


12JM 


63 


tf77l 


1 1675 


10241 


-r ffliws»51] 

fi^tKriot & UnJiira- 

- 

L~ltar. „ 

Sll Mar T*a ‘A*? 

Serrices-| 

*■■?? Aug .-^fcrtXpi'A'N-V---- 
t . Ajea OcqSbaiw w»e 20p 


tel 


1 WA 


Apr. JulyiAssoc. Paper- 

Jan. July DaifcpcOoav.-I 

Dec. June AnltfcWiban 

Dec. May Beomwe- — . 
June Jan. BritPrinthfi — 1 
Jan. July BnnmincGrP— j 
Tan. July DO.RKtne. Vlg_J 




I Nov. june)Bggm ^ — 


tDoC - MMsSrJL-' 


•155 




271 


75 


Z72 


271 


I’M 


& ffiteSSSn 

April 

Nov, JaJ % iLoncs . P pr_j 





Sm 


43| 95 




NovJ 


oet 




1144 


37 J 77 , 


14(3-86 I TJ 




Wsi 

sEuSF* 





t-’; rrc'-'^^Lv-.s. 

; - • . WnfSj 







v .. '■ 6 ? -Sect 


t-v xjia,^. 
r.’ Tan .- 2 , — 

Mardtr- 




■W&ge. 









tern* 



256.1 V 


b825 4/ 


2T \M 35 


Apr- 

t£. sSl EilStrSTi 

B iaia» 1 

i“» r* 

SBHsi Allen 5to 

July .ScSSoysra. 11 ^ 



w r SSSfc 


29] 


I4J 


6.0 


(651 






4.4 


6J0. 




;78 


« 


as^|: 

OcL Snath (Dri^SOp. 

fe-atp* 1 ' 


l S 


Apn*Sept BritHotwir--- 
Feb. Aug. BntajrlABb.aip- 
Jan. July Curd (Dnndee)- 
Dec. May Carpets tau." 

May Nov.lCarr*)' 

October 
Dec. JuneCoate 
OcL Mai- Corah. 

Mar. Sept. C«nte?Ws-~- 
Mar. SepL Ba7%DebBB7 
Julv CnwtheriJl — 

5ept. Dawson IatL — 
Feb. SepL Do. A’ - 
Frt. Ocl piMripari* 
INov. JuiygatrflDfcltlty 

jjan. July F<uer(Wu»i — 


^pr. SS-telHfc; 


Nov, Hlcki 
jv Hieldan 
Jan. Aug. Htehanw 
Mar. Ocl. HdlaswpSp — 
Aug. Feb. Bomlray - - - 
Oct Mar. 0rgwnthM.20p. 
Ocl Mar. Da 'A'SOp-—- 
Jan. Aug- Ingram (H. 1 W— 
Nov. May JeromeiHMgs.)- 

Jan. July Le*lsDren 

November Leigh Mills 
— Level 5p — 

Apr. Dec. Lister— 

- JulyWesiSiaW— 
Dec. Btackay Hugh-- 
Ocl Mackinnon Scot* 
JulylMartin lAJ 29p — 
Nov. June Miller (F.ilOp — 

SepL Apr. Meotfnt 

July Dec. Notts. Manfg—- 
Mar. SepL NavaJereey2Qp- 
Jan. June Parkland 'A --- 
Jan. JuIvPickl«(WiiCa 
Jan. July Do.'A'NVIOp 
Aja-. Sept- RXT.lOp.- 
Apr. JulywMiei - Fashi 


PROPERTY 


IleyFasi 

kug. Dec.jRevd iWm. - . - 
Mar. Oct RdianceBnitSlIpJ 

. May Nov. Richards 10p — 

ilffcOi Mnr Oct 6££.T.8Dpl — 

1 83 July Dec. Scon RabwtsaL. 
1^ SepL Jan- 5ekerelnLl0i' 

7 -^FeS7 Aug. Shaw Carpet* 11 
June Dec. Shiloh Spinners-. 
Sept SidlawIndsiDp 

May Sirdar 

Dec. SnmUfcDdmas 
Ade. Sn-ViMOjaLia* 
Aug! Do. Priv.LWJO. 
OcL Spencer iGenj — 
Nov. Stoddard 'AW- 
July SuwdRrWtVd- 
May rem<tonailate- 
Bdar. SepL Trat'rdJw. IOp. 
2-i February TwnkinsciEs. 

5,® Feb. Juljfamd — - 
4 — [Torr-'NoO — 

“April OrtiTrsflordCairoeti 
j nn JulytrnwnrolelOp — 

; - Mar. Septlyim-Taa'P—- 
Mar. dcLhwktFhiew fflp. 
OcL MaytYoaghai 


6.7 


6M 

71 

31 

3 


s 

15 


29 


132] 8649 


i.67 


3.4 g4.90 


3J1 _26 


242 


- 


y76i- 


272 


1331 


t-W* 

flf 


£72? 4 
33 
125 
125 
72 
29ni 

32 
109 

85 
103*1 
55 
59 
«Lul 
31 
30 
37 
52w 

ATtH 

19 

33 
47 
61x3 

44 

45 
57 

124 

49 
76 
14 

*2 

93 

50 
91 
42 
23 
56 
46al 

27 

& 

90 

68 

29k) 

70 

46 
45 

28 
33 
55 
22 
58 

I* 

66 

42 

43 
35 


305 7 J 


UJ 


65 


110J 


29^12^ 45 


« 124 


3.7( 8.1 


3.91 9.4 


(95) 

(43) 


3-71 aa 4.4 


55 


m 


3.ll 7358 


- 3.01 - 


73.38 


163 7238 


1198 


35 


h057 


D3 76.48 


20.01 83 


0.75 


3.01 


30.1 74.19 


L5)d3.12 


1232 154 


1213 L34 


d281 


17«h278 


30J) hl.51 


310) dL05 


174 


03 


45 


3.4) (13.3 


(L65 


U1213.W 


2811 4.42 


1533.70 




3.49 


155)324 


3J 




0.69 


059 


[ ♦4.69 


Z73td3.94] 


m 


289 

71.03 


305)2.74 


71.12 


17761 30-88 


L64 


301(602 


3*l7d282j 


30N 20 


3.4(246 


13Ja tl52 


7L01 


1.65 


Iff 


272 


Ql^H 


DJi 7206 


7L83 


325 


182 


205 


951 34.4) 


Iel26| - 


V* 4.1 45 


B.9 4.D 42 


J10.4 6. 


♦"111?) * 


410.51 55 


CoBioiaid J 
ieraIFu?ds_ 
DaConv. !0p._ 
Intenors — 

. Scrttisfc 

SChldreir-^. 
jwrSl'bH.-'— 1 
. leuderon Inv_ 

Do. ‘IT 

ernaamt Inv., 
Da'E'O.-rL- 

ibe lav 

veti Europe— 
ge Trust — 
NorJi'.ilcv— 

nlriar Inv 

bars Inv 

Group Investor*.. 
idirtiiu Ie:.IslJ 


301 71.01 
Di\S£l 


July Dee.(Hambres 

Jan June Bircros Inv. IOp 

July Dec. Bill iPhilipi 

Oct Hume B!ds. - A"- 
Do 'TT — 

June nnfur.dCi. 

June Do. — 

Dec. June Indmcrial tGen. 
SepL Mar. Internet Dm — 

• v.(nSu«ers_ 

iteslors'Can — 
cstnLTsi.i7rp._ 

udineJapo.i 

[arduh;5ec.HH55- 
erseyEtLPLlp 
lerseyGcn.il— . 
os Hold ings — 
May Nov. Uove Inv. Ire. 20? 

i.Cap.2p__ 
ynonekv.33p-4 
ingside lav. — 
Viw (nr— 
i Lot. Inv. 
Law Debenture.. 
Sti( Res.Jp 
lalm'.IncJJup 

Do.Cap.5p 

Vaiicnrilnv- 


Nov. 

May 


July 

Apr. 


Feb-p 


Nov. Jn 
March 
Apr. 


Aug. 


January 
Mar. " 
Dec. Ji 
Mar. 

October 
Nov. J: 
June J 
Feb. 

Apr. 


ai Afcdn PU5p 
n, Atlantic — 
JjisUotSAI 
.fc-Gan.50p- 
n.fc=tlrn»d_ 
^ALeanoi— 
n.fcLiv.lOp— 
.fcLorrond. 


PEppwFd 
ParazhelOp— 

( ; Place lav—; 
tultSn- 
&’!&rrijSiL4 
^orseliJp— 
LfcMere.'A. 
EttpeAan- 
thE™. 
tPatHSSOc 

•FiaNTlDOJ 

aSStTSL!?- 


I Attack 2Jp — 

. Br.t Borneo IOp. 
'BriLPero'.=.£l 
, DaE^KEl — 

IS a rre a h £! 

. Dc.^.’Ln-J'* 

mCCPVASM 


July 


Chanercaua?— . 

C:eFr PeL-o’^Sj 
rtciuifOtii: — 
rtGidePefaiti 
E=dejie=r5C=_ 
KCA 


— Ilasmo 


May 


67165 
53 24 3 
7.4181 
4.0 33 B 
26 45.8 
64 23.0 
4 6 31.4 get 

35 426 OCL _ 

6-6 m Sac. MariShiU Traaa. Patg. 
9.8152 pell, Augi Da7)Pf.£1 — , 
- — HtiSIebestCS-El 

H S i Apr. OeLgotscoWiCav. 

fg 2f8 Dec. JulriTriremw 

68 2L1 _ (Uxirur, 

4.7(320 ian. Jnlyuw Tpc'iv A — 


IL\5!10-Ct? p I%i- 

ll£agr*e: Weals lfc-! 
loaEnpLiap-^ 
IPretnier Cons. &F 
hlangerCi!.. 

iRevaolds Div. !e. 
Apr.m-t Dutch 5123. 
Sceptre Res. 


L2 5.9220 
Llrf 5.7 26.0 
1.81119 
3.7 362 
27 455 


fiyMksNaHtWs.. 

DaPid.Ord.Ht_J IBS 
IWoodsideAaOe— 



Serving the world 
with 

financial expertise. 



Tokyo, Japan 


MINES— Continued 


CENTRAL AFRICAN 


Slock 


Wee 


May pblcoa Rh5QC — 




RccnCons. 

July Tan£uE>ika50p— 

July Do.PrefMp 

May WanbeCoL Rh I — 
yjm£p r£3DlILi - - 


195 

17 

70 

162 

90 

37 

15ly 



AUSTRALIAN 

15 ' 


= n = 


Gold fc Ease 12tjp_ 
Juno Dec. iGo pea 5 Coes. 

Hondujog — 


OVERSEAS TRADERS 


Jan. July 
April 


17 


3.7(418 

afi£ 


AlricaaLakes— 
AusLApie.5Ce.. 
Oct BaMud-lfcWU 
, Julr rtarti«;cl!lkci;SJp 

5 ..|S,SS?S; 

U&S'VSKz; 

30.1 7171 J10 4157.4 Dec. H’ris’ns.Cros.a. 

155 270 ♦ 53 ♦ Apr. SeuL Hottnung iSj — 

385 3.75 ♦ 62 ♦ s|p. Apr.lncbcapea 

128.11 TthOiB 13 24 603 January Jacks wi 

30 j( 7.9_ * 67 6 _ Jamaica Sugar— 

7.4 162 Qpj. Apr. Lcnrto 

— — May Jan.MlicheUCtps — 
J-5 — Apr. Nov. SigerianElcCj- 
16| — Dec. July 0eeaafflsns.2)p 


73.71 1 i: 


Q20c — 
Q9.49 — 
505 175 I I? 
133 262 
133 290 
155 7165 
505 6.7 
34 0.85 
22 cQ47c 
474 — 

17.41350 


55: 


Apr. 


. „ Dec. Pafsua.Zoeh.lOp-j 

— 53 255 Apr. Dec. Da’A'NfVlOp— 

Ol 3.41412 SepL Sangerili)! . 

33(44.7 J “'- *^SS3 Sugar 50p_, 
4.0 * Ms, Nov. iSine Dariry I0p( 

, IfljlhM j an. July Steel Bros. 

Ill 45)222 jnn, June TfaerEems. 

J — Apr. Oct Do.BpcCnv. 

♦15-^JtnSec. Apr. U. Cily3lec.ll 
10) 66] 22.0 Mar. SepL DalOucLn. 
11.8) ♦ 


260k 

95 

132 

09b) 

35 

359 

zn> 

£63n) 

475 

87 

415 

28 

B 2 

41t 2 

250 

95 

175 

170 

29 

£2 

80xc 

414 

59 

£91 

64 

64 


D 3 E433 
305 62 
155 150 
3131 655 

^ 8.n., 
112 KJ 


1331 


"ft* 


ms 


h352 


19.01 

4?rt 

♦ 


L78J 


1321426 
J32 05.0 
1232 Z066 
776 
D2 6.55 
17.4 3.4 
13J 132 
2831 h25 


183 


3.4 . 

at 44.43 

674 B— 

17.4 h!75 
25 13.0 
25 330 

135 192 , 
3.4 fhO.75 
27J &4 


19.31(67) 


231 


110 


26 

40.4 

45 


221 

♦ 

7.9 

103 

4J5 


17|l2Sll5.8) 
♦ 


8.D 
102(f8u8| 


312l£28l - 


Mar. Sept, 
June. JanJ 
Mar. OcLj 
J-ebmary 

Jan. Julj 1 
June Jan. 1 




193 

72 


Id 7.8 


RUBBERS AND SISALS 


Stock 


August 

SepL 


* I June 


■W 


4.7 

4.0 


ar. Nov. Lin. k Macaw*.) 
Nov. June Lan.fc Ptnv_— — . 
Dec. July Un-Rudaital. 
May Dec. laLfcSebjde. 
June Dec. UB-TstDid.- 
Ijune Dec-Lawbodlm— 
Sept Mar. BfcGDn»lInc.30p 
_ Da.Csp.10p~— 
July Jan. Data4Da£lBc.l0p 


360 

2-5 . 

70.42 1 

132 7525 | 
19.9 3.40 
303 225 
3.4 t!38 
305 825 
23 723 
16-1 1135 


5 U 


4.6 
29 37.4 
5.1283 
4|34.G 

5! 


*«i 


10) 9.(Sl6.7 


33(5.06 4 Ut 


5-? 


4.9 


Jan. June 
Mar. Sep. 
Apr. Sep. 
Sept. May 
Feb. July! 
May 


1)11.4 


Jan. Sep 
Aug. Mar. 
March 
AprJly.Oel. 


9.9 




«o.a(7J' 


te7 


Aprtl 
Aug. Dec- 
May Dec 
June Doc 
Dec. Jut. 


50p- 

Meldnunlnv 

Mercantile Iov_| 
Kachan t* Tit. 
Monte Invert- 
MonLBo5too)0p| 
Do-BitW-D — j 

Montoya (£1) 1 

Uoorgatelnr— . 
MoonrideTrosl» 
.NegltSASl*!- 




Anglo-Indonei'n — 
Be rum Cons. IOp— 

DirdiAIriczi 

Bradwall IOp— 
Apr. Nov. CastleOeldlOp— 
Nov. Junejchersoaeae IOp— - 
May Dec .] Co 05.Pl an u ltip 
Jan. AuglGrMd tentrnl lOp- 

Apr. JufcHCnthneO. . 

April IHarriaasJft.EatlOp-) 
Nor. May(Bi(!hlai«lsM50c_- 
Apr. Nov.iKuali Reponc US!. 
l£ JulylriKubm MS0e__. 

October Ldn- Sumatra 10p~ 
Dec. J une jMnlukolI MM — 

November |Mnar HI r«- IOp 

May NoviHantaatuiEW® IOp 
March ISongaKtianlDp— 


Aroetlw 

BnjfaiD'tLfl 50T«s . 

3H South 5Cc 

MaylCcaa.i: ftetow .VJt 

iQ.M.KalgonrlieS! . 
Hamptu AreusSp- 

MdaisEx 50c 

M LM. Hides. Me — 
iMouat L-vll 06c — 

jXewnrtal 10 c 

|NorthB-Hili5(lc — 

Nlh. Salgurli 

Oak bridge SA1 — 

Pacific v'nppe: 

Par.voct'l l3c 


,Par,Dral ^J 


nrko-0':ll5end 
Wertn-MinincSOc-i 
ffhim Creek 20c — I 


326 

99 

230 

54 
131 

32 

210 

39 

4 

130 

15^2 

164 

46 

£14 

34 

520 

148 

55 


Ha 

974! 


FcT 


QSc 


QlOc 


1.45 


13J Q9c 


7.4 


QSc 


Wile 


Q15c 

*Q6c 


1^ 


2.S 


43 


1-7 


15l 


M 


4.0 


27 


1.7 


2 6' 


38 


42 


1.8 


AnaL Nigeria — 
AjerHtianSHl— 

Beraltnii 

BeriunLuSNl— — 
L Geeror.- 


TTNS 

25 
350 


JaularlZtj — 
Kaaunung SMD30 . 

Sfliinchail — 

lib] :r Dredging SHI -] 

iPchacg— 

Pengkafen IOp 


May Nov 
SepL Mar. 


Petaii nglUl 
ISaintPinn- 
Scudi Crafty IOp— 
Souih UniaSMOiO 
SumMalayanSUl- 
SungejBesiSMl—- 
Suprune CorpSMl 

tefen 


Apr. OctjTronohaa 


54 

280 

135 

ID 

290 

165 

83 

11 

68 

490 


70 

60 

210 

54 

56 

200 

3C0 

208 

75 

92 

9b 

210 


13-37251 
133 504163c 
S3 3.75 
33 tQUOc 
ltd b4.51 
1074 
17.4) 152 

4-6T. 

P 

13^1^950, 
973»375c( 
301) 65 


,1232( TO 


i3 \&% 


OKJ778C 
iSllQBUri 


97|Z210cl 


1212b?5tM 1-6) 


133lZQB8c| 


152 


16 

0.9 *■ 

4.4 110 


0.9| 




218 


0-7) 


0J8 


7.9 


4.9 

255 

53 

t 

167 

87 

56 

112 

84 

9.4 


29 

10.7 


Lb) 9i 


COPPER 

June DecJHesiinaRaso 1 98 |1212J7Q30cl 19| t 


MISCELLANEOUS 


52 


Aug. Feb. 
November 
Jan. June] 


jBnnna Mines I7>ip. 
[Cons. Hurch.lDc— 
NcmhguteCSl 
R.T2 


Nov. July] 
October 


jSahina lads. CJI — 
Vuknn Coni, C$1—' 


15 
225 
435 
230 
49 , 

am 

43 

173 


575 
3J$Q30c 
30.9 - 
25 93 


2M133 
15.91 Q7e 


24 


23l 


63 


4.7 

19 


Mi 


6.4! 

4.9 25.1 
5.4 Z7.4] 




December AsswnDooarsU- 
March AssanFronberLL 
Sepienber Assam tovs-Q— — 
Mar. Sept Empire Plants I®P- 
November Jokni £1 


SwThroc.Iac..| 
DaCknEI. 


5-7 253 
7.7 193 
0.8 1412 
1126 


Jan. Aug Oil 4 Assoc. lar._ 
June Nov.iiHilwirblov 


Apr. 

Dec. 


6.7 


21 ( 10 .' 


3l|l2l 


* I 7J 


29(10.' 


3.0 


9-2| 43 


*_1 


93 

152 

4.9 

61 

83 

72 

67 

1120 

h 

66 

5.6 

41 

Is 

7.4 

3.Z 

1*2 


AUg. 
Aug. 
Mar. SepL 
Aug. Feb. 
Ftb. SepL] 

Apr. CntL 
QcL Mar. 
SepL Mar. 
Apr. Nov. 
Apr. Nor. 


Aug. Mar 
]Apr. Nor. 


81 


110- 


48 6! 


1143 

SlOJ 

40 

89 


4.0 7£ 


7.N 4.D 33 


5.0 4 5 43 


Ml 65 


0.91 9.1 


24.6 

17J 


. , - 5 
J491 


62 43 


DaCbp.£I 
Da New Kins... 
N'.Y.&GarDnore. 
1928 Invest 
Nth. Atlantic Sec 
N'thn. American. 
Nonfaom Secs _ 


Sep. Pec. 
Dec. June 1 
OcL April 
July a 
Decemner 
Mar. Dec 
'Apr. Oct 
Dec. 

July 


Pen Hand for — 
(Frog. So. lev. 5Gpl 
ProrindalCiiie 

[Kaeburn 

Reabrook Inv— 
K]ghtsfcIfs.Cap 
divert Mere. — 
River PtoieDeL. 
,Rabe»(Br.)F150 
DaSutLSh'sFTu 
)BollncoN'’Fl5D. 
Po.Snh.a'sFE-l 
Somnep Tnisi — 
Rnsedinsond Inc. 
DaO 





notes 


Cairo "otherwise loricated. pri«« 

— u ^ lamlnHlaw n 2Sp. EsumsMa pneswanu* 


nil where pauBhlr. are ^lftoted 


sfcEsr ns s^ssss&JsssfXfi 


to&mt W per cart. *r more dlHerence If oktoMnJteir 


M Shkm aags 

“i™** " “a-iscs; 


TEAS 

India and Bangladesh 

SUM MSI, 

112 W625] 
228 7.0 
17Jfl 41-98 
J4J1 4 I 2 OO) 
JLK ♦mooj 
17JD 03.5 
25 15.08 



,1251 Fields are I 

« 3Sff SLSa^ss m 

^ 4 |^ed Inclusive ol the Invesment doltnr prendBin. 

Sterling denominated securities which include tnvttfcmmt 
dollar pretsium. 

Sghs udLon marked thus hare bean mil rated to allow 

for rights issues for cash. 

Interim since lDOTS«d ” .^ffnr.TmiT 
Interim stare reduced, passe d or defOTaa. 

1.3 35|*i Tmc-free to awn-remdents 1 on application. 

^ 6 Figures or report awaited. 

T7 Unlisted seeuriW- 

\ to^tewldfridend after pen«nKscriP*ndto^Bbte , “ m 
• cover relates to prerieras dividend or lorecast. „ 

*• Free of Stamp Duty. 

4 Merger hid or reorganisation In progress. 

8-1 * SJ^r^wtaE^ "reduced Dual and/or reduced wntaP 

Tl fill"? f Fot-ecaS^ dividend; cover on eanrtnge updated by latest 

fjj 4£ ; of 

jri do dividends or .unking only tor •— 

afl e« * Cover doe* not aUow tor shares which n»y dm 

5 - 9 1 dirideod at • future dale. No F/E ntao usually pwMdtri. 


U Excluding a final divtdend daclaniton- 


Africa 


4.4 

10!ll.7| 


November; 

May Non. (Moran £3 

- Somber kriliamsoaSl 1 169 | 225) 9.0 i 4.7) 81 „ ^ haM ^ s ra prospectus or other offlri.1 

i5j Sri Lanka TS#* tSSW V ESTS/ S t 

»U — — — ■' afesf dfM Mrat^g 

j Payment from capital sources, k Kenya, m InttttaWgbmr 
than previous ««H ■ BJfbw 

based on prrlirrjnary figure" r A ustra lian^ currenTy^- 
il0-9| “ Drtrtdcnd sno yield exclude a special paymreL. jjjd leegd 
dividend: cover re! ale* u> pre^ous dlridcnd, redo braed 
on latest annual earnings, n Forecast ^"dend. ewer tow 
on previous year’s earnings. » Tax lf v* “F.JP 
w ITeld allows tor currency clause, y Dt video d jmd mid 
bawd on merger |grn» * Dividend ■"* 
special payment: Cover doer- not apply to SSSaSZ- 

isa^u-i (SjajWfjaB ffisaMt • 

-“-“—I “ raw3c| 64 " insF 


May 

I Feb. 


Nov.JBlanrtreEI. 

l|8ui 


Ocl(Buo Estates. 


550 

180 


isr- 


135 |« 


MINES 

CENTRAL rand 


Safeguard Ind— 
|SL Andrew TsL_ 
sroLAm.lnv.Mp_ 
Scot* CocL for. 

.tcoLQties'A' 

'SceLEasLlnv 

Jui;. I' cot. European - 
Ja a.]. -cattish Inv. 


June Pcc.5coLJtort.fcTa. 
[June Dec'seOL National— 
May per.iieoLNorliiem— 


July Dec 

Aug. Mar 

Apr. Auk 


Apr. OcL 
Jan. Sept 


Dec. June 
June 
Apr. Sept 
November 
Dec. June 
Dec. June 


111.71 60 


0-21 64) — 


— 1 69 


\A5±- 


AnSpraW Sfl E 

il-69( + lApr- 'Oc t 

li sl Hton' OctlAtpUS-Swi^ 


Aogost feawap 


-K&CotnlOlL 


R m\ 


““SSSS® 


m 


i’fliSJ 


5.2 


r3Z 


S®4)l 




r ; July Bin® 4S21"- 

Art dQ. EZpcCc^-Sfl®- 

JrifoC gp-iCounno 
^DftWanents- 


9r 

206 

22 - 

7L- 

& 

S . 

ftlvd 

3A3 

M3 

225^ 


m 




US 


D0.C3! 


(0.95y 


Jan# 




m 






■ Sep*- 




mm?** 


ran.- 


ast*?., 


“^^DoKLoC Car.-— 


'ass.**!®*: 






1280 . 


J33.« 


:MEIBI=:: **SSte 1 


17.4 






.3046185 

li51d356 


137 

m 

52 

SH 

ar 
66 
3«. 
13. 
255 
53- 
IX : 
32 
159 

r 


\m 35 1 

fB3 0-68 
677 13 

1133 153-81 

yd 

■ t287l 
111 3.221 
1730 6381 
Z8U tUO 
3273 H 
■3*74 




191 
28JK 17 


:317 
221 107 
974 


32 

£96 


46 

20 

« 

IDO 

114 

7# 

230 

298 

5^* 

570 

-29. 

238 

153- 


auM.0 

ini _ 
1232 663 
272172 
m 1.96. 
973 
113 2.0 
335 tdfifi 
11 70.79 
B! t2% 
155 0 » 
14H 



1171 

wP 

1117 642 

l|i AT 
K! a 

E73^| 

psd 

1232 izm: 
iH«38c| 


1 fl 




i? 


16 


18 






H 


24.7 


2l,_ , 

A i& 


4J * 
5.5 « 

4 2 V 


{8.9 ■ 
129 24 
5.0 ■ 




9 




TOBACCOS 


4pt apHMTg.- 


I an. June DunhUKAJlOp- 
' Tov. Mar. teperial-—. — 
rJj«L SepL RothraanslT 
an. JulypimasunHiL 


1 321 


13.01 


1232 8.72 
132 566 
1232 82.04 
25 279 


73.4] 


ili Is 

5.7 28 
69) * 


ScoL Ontario 

Scot I'UL Inv. 

f'ML Western 

ieoL Westn. 
hs. ADimreTst— 
Sev.GreaiNlhiL. 
Do.-B"- 
securitiesT.Se.. 
jjlcctBii hr. 5U5 

?hire5 imr. 50p 

SisewelJ IOp 

Sphere Inv 

pPUTlnc.IOp- 
.^PLJTCaj).10p„ 
Stanhope Gea— 

SterlfogTft ; 

^ StockholdOTUr.- 

September S;«hmlMr 

Temple Bar— — 

Tbrog. Growth— 
Da Cap. £1. 

Throgmortoa I 

... Do.Bii'iLoan— 

ar . OclJTot Inrea. lac j 

October [ Do. Cap 
IFeb. Ma;-|pSM.C 




Jan. Au? 
Aug. Apr. 
June Jan 


— iMar. Ocl 
(April N°'- 


War. An£ 
|Msv 


tort- 


TRUSTS, FINANCE, LAND 

Investment Trusts 


— |Dec..JoM(AberttoenlBrs.-. 


J Dec. June 

Jan. SepL 


Dec. 

OcL 

Nop. 

Nov. 

Dec. 


July 

May 

July 

July 

July 


* Ocl May 


10 9 
4.9 20/ 
42 19.7 


Auft Mar. 
SepL Apr. 


AhewtoM Trust- 

lAtbalflp. 

Alliance Inv. — 
Alliance Trust— 
AUhsdlncSlp. 
Da. Capital Wp- 
Ambrose lot. 1 dc.~) 

Da Cap 

American Trust . 
American Ts-'ff 
Anglo Am. Secs- 
togto-IiU. Div — 
Da Asset Sts— 
June Dee. Augio-StoLlnv— 
18)29.9 Au& Feb. Arthimedeslnc.. 
39 — — Iw.Csp.50p — ■ 

14I9L9I Dec. Jone.4rMlM.15Al)- 
4.6 182 Aug. Mar. Asattora for — . 
'45 ♦ January j Atlanta Bait IOp- 
82 115 November ]. Atlantic Assew - 

82(70.9) Dec. J und. Atlas E3 ml 

- October lAnst ilntlSOpi 
8(04(1 — Nos. July Henkes' Inv. — 
14 558 December [Bcny Trust- — 
7il?2 — Bi5lmtrCBlcpMP.- 

17 255 Nos. JunelBishopseaieTS- 
1.8 363 May Dec(BordeffcStim.(A- 
7.0 (64) June [STiri! FbdiJC^ 

— t nn jcIji3r2zillnv.CrSi_ 

48 198 . — BresiarT a ■ 

20 403 Jan, AugiBHdpmiwTlOp. 
53 MU Apr. SepLfBrtL AnL&C-ai- 
— — ApJy 'OJaafBrlti* Assets— 
24 615 May NovJSilEi4SM.5p. 
42(146 Feb. .Aug Bril IntLiGoi- 
19(aaDee. June! Brit fosW-— — 
3 J 4 O Ort- AjprjHmiJUsKCStp) 


SO 

139 

106)2 

91 

221 

118 

177 

58 

58 
45 
44*2 
99 
43 
129 
43 
67 
34 

144 

124 

67 

97 

56 

59 
7* 

166 

239 


153(235 
25 $5.05 
11 t4.12 
2411 249 
3 .4 7.10 
153 830 
153 0.42 
MU 43 


25 

74 

39 

76 

10>2 

100 

164 

349 


34 


na 3.0 
zt3 3.2 


155| t!61 
33 5.15 


135 


11 


1.0 


Tribune forest— 
Apr. TraletaLhcSOp- 
- K ruCapJaltl- 1 
|Dec. JuticjTntst L'nion — „ 

Feb" Auc-TrosteesCorp — 
lApr. OcLTraeridefor. 

April Uptostabs- 
JFeb. AucItliBriLSea— 

aaife SRs-^SKUr 

July 
June 
Jul:- 
Mareh 
[June P«l 
Auc. Mar 
Feb. July 


55 

5.9 
41 

4.9 
10.7 

0.4 

123 


(253 

242 

366 

1302 

* 


4.5(317 


4.6 

1131 


5.7 


L0ll2.Cn 


330 Qll'H 
303 4.04 
2811 05 
330 041 
155 190 
133 t2.7 
17.* 255 
1431 10.87 
3110 - 
153 dh.25 
15 »75 
675QS0.44 
15J2QS521 
28.U f05 
43 032 
7J2 L65 
153 2.00 
25)10.6 
1 All 34 
J5J 4.85 
13J 535 


LO 
18 
45 0.6 


10' 
1.11 
5.91 
1 nt 

15 

Llj 

im 

iii 

L(K 


701 


Apr. 

.Mar. 


30.0 

13.0 


(27.0 

.125 


19.B 
,30.9 
LU752 


54i 

2S2 


5.| 
43343 


221655 


Ang. 

Aug Feb.! 
Aug. .Feb.P 


EASTERN RAND 


r..L= TJTaUr. M* MwJfcwSSS 


February 


28.0 
18.8 

^•^•Aug. Feb.| 
May Nov 


35 


34.4 


45.7 


Ocl. 


Aug. 


183 
324 

JjAug. Feb.| 
jJjlMay Tktn. 

367 
293 
333 



Uarlevaie RDiO 
6 African Ld. 35c- 
VUkfonleinRl — 
tTintelhaak Rfl — 
WiL Nigel 25c _ 


GO 

3.41 

1Q25cj 

27 

364 

3J 

aq 

314 

’ll 

M9o 

343 

3.4 

|Q34c 

46 

3.4 

fQ3c 

102 

3J 

Q46c 

49 

616 

— 

60 

637 

31 

3.4 

Q25c 

tQ86c 

50la 

874 



WriSSud'JS'ytold toS'dTn ^n^dWoBidd 
15(18.7 1978 N Dl^dMdandyieJdto^oaimwwcM. 

12 - or other oindal wtimares tor M9B. F hndm 

41 nn □rospectus or other ofllrfai tf li m sl w lOT hrr/. 

U 1 3 SH® aart-vmgsg 

ll 3.9 Si^oo Treasury Bin RmUf stays uucbamredimtU matarUT 

U] 26S ^ Mtwk- 

r. - AbbreviaUoas:riKdiyld«id;cexBeripUsne;w , «* righto; we* 

0.4)24.9 a y. ,j g, c3 pital distribution. 




81 


“ .■ Recent issues ** and M Rights w Page 27 


32(46.7) 


FAR WEST RAND 


1 . 0 ) 4.6 


3^ 


f- 7 S3: 

J32 1 

343.8 Feb. Ang 
— Aug. Fob. 
30.0 - 

— Feb. Aug 
4 Fob. Aug 
383 Feb. Aug.j 

30.7 Feb. Aug 
183 February 

— Auc. Feb 
14| 4.0 26.7 Aug. Feb. 
136.1 Feb. Aug 
46.E Feb. Aug 
39.9 Feb. Aug 
18.4 Feb. Aug. 

12.7 Feb. Aug 


17.4 


loom] 

130 


Apr. SepL' 
(July Dec 


suvorp 

I'r fcGamJTsJ 
L 5 Trust Fundi! 
V:idngBaaurrH, 
F CtiTfias 


ilTsLl 1B4 

dtlJ sa 

TTEiJ 91 
uiOpl 8] 


RlrvoorS- 

Butfels. 


Dedkroal ROJM — 
Doornfanivin R1 _ 

(EastDneR! . 

EiaidsrandGI'i2De-| 

Elsburg RJ 

Hanrtteaiai 

Stool Gold R1 

iLibanor Rt — 

Souliitaal50e 

(SUlfoutcinSOc- 
Vaal Recff 55c — 

| Ven impost 31 — 

iN.Dne R1 

.(Western veasRl- 
IWertemDtepRJ^ 

7anrfpln RI 



.This service Is arafoble to esnery Ctmpmy « 

8 - a | Sods Es changes thron^wnt the United Kingto a tor » 
10.4 1 ^ gf £400 per annum lor each security 


REGIONAL markets 



161 


, 9.4 

{81 

9.7)12.7. ^ ^ ^ 

08 - SepL Feb.lFrw StaleDev.50e 
4.63Ll Jun. Dec F5GeduUa0c— - 
29|39.0] — (F.S SoaiplmRl- 

OcLpformonySQC— . 
- LoniineP.] 

62(277 Jan. Dec. Pres. Brand 50e — 
4.7 30.4 Jus. Dec.jPre^SleynSOc 
5.3 263 Mav Nov. Sl Helena R1 
33 30.7 ‘ - Vn1«J 

4 9 30.9 Jun. Dee.|We!irotnMc. 


OJS 


7.51 I Jun. Dec,|Wifoldi2«550r. 


80 

13B 

Qllc 

Ml 

05t 2 

15 

tQNSc 

27 

GO 

975 

— • 

»- 

319 

34 

Q55c 

47 

88 

975 

06c 

05 

899 

25 

t(u3Qc 

23 

695 

29 

t^20c 

9.9 

817 

U 

tQlI5c 

25 

170 


— 

— 

262 

08 

25 

25 

WaJc 

L9 

lil 


47 Albany. Inv. 20p 
fij Ash Soinnlr.g ... 

ilL6 SSfflsw, 

Clover Croft-.- 

Craig fcRtwPLll 

Pvson OLA) A. 
Ellis fc McHdy-| 
82 vvored— 

93 FiTe Forge. .— . 
— Finlay Pkfi.5P" 
103 Graig Ship. Ei- 
61 HigMOsBrew.- 

+ I.O.M.Stm.£l — 

17 Holt 1 Jos J*P: 

ShfifiieldBrtck 


23 


4b 


22 


270 

+2 

24 

4-1 

450 


5/ 

, ■ N ■ ■ 

62 


18 

+1 

50 


231? 

+ 1? 

154 


no 

-2 

150 

265 

54 

198 



20 

il4IP1 

46ri 



IRISH 


Conv. 996 '80/82 
Alliance Gas— | 
Amott— 
Carroll (PJ.l 
Clondallcta-- 
Concrete Prods- 
Helton iHldga.) 
Inn Corp — 
Irish Ropes. 
Jacob — — 


Unldarc- 


£9B*| 

73 

92 

96 

135 

90 

148 

132 

68 

33 

178 

90 


+Z 


',Verays5lnr.£l_l 3?? 
XnierboEom— -j " 

Ifi'itan fov_ 

Do "B". 

Veonanljiv. I 

V6rk£.iLlncs_ 

\ oriUCetn lDp I 


pec. jun^l'itmifiCo'iinvil.i 74*ll ] J0-?( 


5.6 21 
4.9 27.4 
0.6 

L8 68.4 
7-4 73.9 Apr. SepLl 
5 j 25.0 jan. Jnne| 

3.6 410 fttar. Aue, 
4.1] 4 Feb. Aue 

- ~ Jan - Jtw 

7.0 20.9 May Dec, 
68 219 julv May 
— Ocl May 
75 ♦ Mar. SepL' 
Feb. Ocl 
A ug. Feb. 


FINANCE 


lAflg.Am.Coil5Cc_ 
Anglo Amer. 10c — 
Ang.AnUtoldSl- 

lAnB-VaftiaOc. 

ly Charter Cttef.—- 
Cons. Gold Fields™ 
Ecu Rand Con. IOp 
Gen MfoineRS — 
Go!dF-^W:SA,ac-| 
Jo'hurg Cool US- 
Middle WitSe — . 


Finance, Land, etc. 


Feb. 


jgjriAiaoyd 5 milter? I 222 
' ’.raour Tsl 10p- 1 UWj 
: rtlwntvlev.l^i_‘ 
“.rttacstia Arrow.! 
..nsddedpT___ 


OCL ~«*r l^a:i«ge'Gp3: 
(Mar Aug ''.Tiunertiou » r,p 

SvpBcntev |Canr»B Mta. |p. 

Julv No - . Da-W-y — _ 


Apr. 


Cct 'i'a^aayDav— 
_ * ]-tpfiloiweil3.-- 

s ssstsei 

Dec J uiylj^toBeHouse— 
Dec. J ul:' vteh«» 6Gen.5p I 

issistf 


43t : 

36 

164 

143 

64 

£22lj 

200 

40 
29 
16 
58 

41 
14 
27 

law 
18 
1 23, 


m 

4'a7 


East 


21 a 

aiii 

m 


574 


200 


Q25 6 
TD 76 
TiO 


(10.99 

L72 

1.12 

dO-49 

494 






4.71 


13.1 


■a 

6 


1-91 8.4 


Mar. Oct 
.Mar. SepL 
2.4 

2.9 November, 
55 Jan. July] 

— Aug. Feb 

— May Ocl. 


HlECOlplIJaP 

VJnoreo 5BDLW— 


N'ewWitSOc 

PaiiEoWFls.3 — 
Rand London 15c— 
iSelecaou Trjst — 
Sentmsi !(*.— 


6.3 

117 

fc 

i9 li 
78 


20.7 

0.9 

1L2 


8.7 

196 

8B 


Julv Jao 
Mar. SepL] 
Mar Not 
Sept. Mar. 


S'.bemnnesSLp— 
e-UDU- 


[FiualCan! 

LX invest ?J 
L;iliorCwpn.825e 
|Vo«if S*jC 


553 
320 
£17 
750 
144 
175 
17*2 
06^ 
£1 27a 
£33t Z 
188 
29 
190 
130 
ana 
53 
410 
217 
58 

£14>4 

220 

258 

60 


Z7.3O60C 
m3 0362c 
134Q365 c| 

2111 
17.4 t9.05 
25 105 
3.4 0225c 
132 QllOc 
31 0170c 
3J 


ql4 

26 

13 

23 

12 

22 


272 

112 - , 
!T75QC50d 


UJflglOc 


1212] (gi 



6.5 

7.0 
53 
95 

7 ^ ladmtriab 

9.1 A. Brew.—--! 
8.0 A P. Cement 

5J, B.SJL 

71 Babcocn- — -- 
05 Barela. 15 Bank. 

TT Bevcham 

” Boots Drug-. 
£■6 Howaters— — ! 
B3 e.aT. t . 

2.6 Bntlsfc(bCW*n 

113 Brown M.i 

5.2 BurivP ‘A — 
85 Cadbury^. — ! 
ec Ctiuruulov. 
t ft Debonhams 
o'l T'isrilterj.. 

. „ S i Dunlop . ■ 

ta 

Tea. Accident 

DIAMOND AND PLATINUM 

i3( 93 U’d.^;a' 


3-month Call Rates 


Nov. -May Anglo-Atolnyac. 
Apr- ScpLUiimpjjateJlLJOcJ 
May NwlDe Beers DC ac. 
Jan. Aug.] Do 4tec PL R5— . 
Nov. May}lfdenwntl2-jc— ] 
Nov. MaviRuiHaLlfe— 


£37J 4 

834 

356 

V 

84 


3.4JQ600e : 
30.nW.le 
3.4 - .. 
SUClZOOc. 1 
DJ«JQ27c 

m 


54 j Guardian | 

ji 

House oi Preser 
t 


LCJ. 


“Irapa 

rex. 


InverCSk— - 

KCA ] 

Lndbroko- 
LegalfcGen-- 
Lex Service— 
Lloyds Bank- 
— — - 
London Bnck. 
L/mrho — — 1 
Lu casinos— 
LysnsiJ.)— — 

"Mams" 

Mrlt> Sc Spncr 
Midland Bank 

\ E.I. - ... 

NaL 'ffesL Bank- 1 
Do Warrants 
P&ODUL 

Plewey 

RUM 

RanlcOrg. 'A - 
Reed IrLnl.— 
Spillen— 
Tesco— 
Tham...-.— -- 
Trust Houses. 


Tube In vest- 
Unilever 1 35, 


Dirt. Drapery J 7^1 


Vickers- -J _ 

Wool worths—] 5 


Property 
BriLLand- 
Count 



Peachey. 
Samuel Praps.. | 

Town & Oty- 


Olfo 

BriLFdmfai*-, 

Burmab Oil 

Cbarierhail — 

Shell 

Ulirumar.- 


Mines 


Charter 
Conk. Cold 
RloT.Ziae 


CeusJ 

2M 


k • ■ • 3 : 




i 


















































-r 




L5 


36 

( for Realiv Discerning DrinkSs" 

1*1 



Reall y Drv Gin 



FINANCIALTTMES 


CONTRACTORS 
WHO CARE 


Monday June 12 1978 


Q o 


Rush & Tompkins 

Builders & Civil Engineers 



l 

81 

3 

t 

1 

( 


B 

li 

ts 

d 

J 

G 

fi 

s 

s 

V 

1 

i 

t 

I 

x 

a 

3 


R1 


.0 

Ja: 

of 

ar 


:e 

.sC 


Urenco 

seeks 

Japanese 

contract 

By David Fish lock. Science Editor 


A GROUP or executives from 
Urenco the Anglo-German-Dutch 
uranium enrichment company 
open a week of discussions with 
industry and Government officials 
in Japan today which may lead 
to a substantial order for en 
richraent. 

The group, led by Dr. Peter 
Jelanck-Fink. Urenco’s chair' 
man, is hoping to persuade the 
Japanese electricity supply in 
dustry to place a large order with 
the company, as insurance 
against any problems . which 
might interrupt supplies from its 
present suppliers. 

At present it is committed to 
U.S. and French enrichment 
concents for its requirements 
until the end of the 19SOs. 

The tougher U.S. policy on 
nuclear proliferation introduced 
a year ago. has caused serious 
concern in Japan which is rely* 
ing heavily on nuclear power. 

Technology 

Urenco believes that it may be 
able to persuade the Federation 
of Japanese Utilities to absorb 
some of Japan's balance of pay- 
ments surplus with West Europe 
by investing in a stockpile of 
enrichment from a new source. 

But Urenco is emphasising 
that there can be no question 
of offering Japan its gas centri- 
fuge technology itself— only 
*' separative work ” as the process 
of enrichment is called. The 
enrichment would be carried out 
in England and Holland. 

Exporting any of the so-called 
"sensitive technologies” — enrich- 
ment, reprocessing and heavy 
water manufacture— is diplo- 
matically highly sensitive while 
the U-S.-inspired International 
Nuclear Fuel Cycle Devaluation 
continues. 

With Japan there is an add! 
tional problem that its own laws 
prevent the Government from 
providing the guarantees Urenco 
would require. It lays down 
that details of its highly classified 
gas centrifuge technology would, 
if transferred, be kept secret. 

If Japan, as has been sug- 
gested. were to become partners 
with Urenco and Australia in a 
Far East enrichment plant, it 
could be only on the basis of no 
access by Japan to the isotope 
separation technology itself. This 
is the tactic the French have 
adopted. 


Continued from Page 1 

Accounting 

proposals 

Standards Committee in drafting 
the new exposure draft. It 
might then be wound Up. 

So far. two of the six main 
accounting bodies — the Scottish 
Chartered Accountants and the 
Cost and Management Accoun- 
tants — have approved the state- 
ment or intent. 

The final hurdle is likely to 
he the dominant English Insti- 
tute of Chartered Accountants, 
whose three-day conference ends 
in Brighton today. The new 
initiative will come up for 
council approval on July 5. 

By exempting perhaps 95 per 
cent oF all U.K. companies from 
the new proposals, the ASC hopes 
that it will prevent apposition 
building up from small com- 
panies and smaller accounting 
firms. 


Continued from Page 1 

Car sales 

years (hat some of the tradi- 
tional methods of Judging 
growth have been discredited. 

Sales have also been dis- 
torted by the delays in replac- 
ing vehicles which followed 
the rise in petrol and other 
prices in 1974 and 1975. 

This year the difficulty Is in 
Judging how far registrations 
have risen so far in expectation 
of lax cuts, and what the 
ultimate effect of new selling 
methods such as cheap hire 
purchase finance and leasing, 
will he. 

Nevertheless, all the manu- 
facturers are trying to stock up 
for the critical sales month of 
August, when registrations 
usually reach their high point 
for the year. 


Crucial talks today 
on EEC fish policy 


BY MARGARET VAN HATTEM 


BRUSSELS. June IL 


Cigarette 
sales 



THE FATE of the EEC's contro- that Mr, Guadelach will have But if Britain is to be forced 

verstal common fisheries policy anything new to offer the UK to climb down, Mr. Silkin is 

will probably be decided in Faced with an election later certainly not going to do so just 
crucial talks in London tomorrow this year, Mr. Silkin is believed before an election, particularly 
between Mr. Finn Olav Gun- to he ready to conclude an as Britain has oot much to gain 
detach, the EEC Agricultural agreement that could be presen- | Q the short term from any 
and Fisheries Commissioner, and ted' to fishing constituencies, agreement, however good. 

Mr. John Silkin. the Minister of which include a number of j^ or WO uld he be likely to 

Agriculture. Fisheries and Food, marginal seats, as a vindication at tempt a deal not virtually 

If Mr. Silkin emerges from of his Intransigence till now. asgur ed of passage through the 
the talks convinced that the Since most of Britain’s de- Commons whose Expenditure 
other eight member-states are mands on fishng quotas and Committee recommended among 
prepared to agree on. a deal suf- conservation . measures have other things that Britain con- 
fidently in Britain’s favour to already been met. and incorpof- tlnue to °o it alone, making 
he presented to UK voters as a a ted in the Berlin Agreement bilateral deals with Norway and 
pre-election triumph, detailed the main outstanding problem resurrecting old demands for 
negotiations may resume in seems to 'be that of finding an exclusive rights In a 50-mile 
Luxembourg next week, in time acceptable formula to give 2one 

for a settlement before Septem- Britain permanent rights to most Much depends on how keen 

her. stocks in the 12- to ',50-mile belt tbe other States are to get an 

Otherwise, the chances of a specifically in the North Sea. agreement this year, since in 
settlement this year are virtu- _ , _ _ the long term Britain has most 

ally nil. Mr. Guadelach, who has I OUgher attitude to lose from an. undisciplined 

visited most other EEC capitals RritiBh - ide _. thiq not ve , internal policy 
In recent weeks to discuss the subrnined formally include a The main pressure on the other 

issue, «. believed to be deeply JaSZtA eight relates to fishing arrange, 

pessimistic about the talks.. S Sat Eluded in lli£ “ents with third countries such 

Little apparent progress has .wont a* Sweden, Faroe Islands and 


been made since the unofficial inmSase^Vsh Norway which cannot be 

meeting of Fisheries Ministers in r ~oii«fno F«vli? S !Ln«»rwa formalised in the absence of an 

Berlin last January, boycotted by from conserv * internal regime and have 

Britain, at which the other eight Qon measuras - recently been extended on a 

reached a “ gentleman’s agree- Despite recent signs of a semi-official basis for yet another 
uient ” on fishing policy. tougher attitude In Britain, as month. 

They still appear determined instanced in the recent Commons The outcome of tomorrow’s 
not to let Britain bend the Treaty Expenditure Committee’s report talks may not be made clear 
of Rome again, this time on the on the fishing industry, there are until Wednesday, when Mr. 
question of preferential rights in indications tbat this formula Guadelach is expected to make 
the 12- to 50-miic coastal zone, would be acceptable to British a statement to the European 
Consequently, it seems unlikely fishermen. Parliament in Strasbourg. 


Concern at small number 
of calls for regional aid 


BY GUY DE JONQUIERES, COMMON MARKET CORRESPONDENT 

Den- 


BRUSSELS, June 11. 


5 . 8 % 


SERIOUS CONCERN is being amounts to Germany and Den- and service sectors (12m units 
voiced within the European Com- mark. for 58 projects), 

mission at the small number of Regional Fund grants gener- It was doubly important to 
applications' for aid submitted ally finance only part of an encourage Regional Fund sup- 
this year to the regional fund, investment project, and appUca- port For industrial investment at 
It is felt this is due to the tions must be formally sub- a time of weak economic activity, 
general weakness ot new invest- fitted by national governments, since the investment being made 
ment throughout the Community, which may pass the money on was concentrated primarily in 
Late last week, Sig. Antonio to the investor or use it as a the more highly- developed 
Giolittl, commissioner respons- partial • reinbursement for their regions of the EEC. 
ible for regional affairs, disclosed own expenditure. ' The Commission believes that 

that disbursements approved _ a _ 0 .. governments should take a more 

during the first four months of * ° „ „ 5 active approach to solving 

this year totalled only I07m regional imbalances. ' 

European Units of Account government finances. . A substantial transfer, of 

(about £72m), although the Sig. GioJitti also said he was resources from richer to poorer 
fund's quota for 197S as a whole disturbed by the fact that a high regions of the Community Is 
is more than 5S0m units. proportion of the grants made considered essential before any 

Nothing has been disbursed was for infrastructure (95m units 6erious move towards economic 
to France, the Benelux coun- of account for 201 projects), and and monetary union can be 
tries or Ireland and only minute relatively tittle for the industrial made. 


Nearly 5,000 layoffs at 
Llanwem by tomorrow 


BY NICK GARNETT, LABOUR STAFF 


BRITISH STEEL Corporation 
began laying off men last night 
at Llanwem steelworks, south 
Wales, because of the two-week 
blastfurnace men’s strike. 

Finishing work at the plant 
was brought to a complete halt 
at the weekend with the ex- 
haustion of steel stocks. Iron 
and steel production has been 
at a standstill for nearly a fort- 
night 

A total of 4.900 steeeiworkers 
will be laid off by tomorrow. The 
rest of the works'. 9,000 labour 
force — white-collar staff, raen 


engaged in safety work and those 
manning the coke-producing 
ovens . which are still in opera- 
tion — are being .kept on. 

The blastfumacemen, in dis- 
pute with management over an 
£8-a-week claim for carrying out 
new working arrangements on 
Llanwern's number three fur- 
nace. are not due to meet again 
until Thursday. 

The corporation expects to 
spend £2 to £4ro weekly on steel 
imports to offset the Uanwern 
production which is vital to 
Ebbw Vale tinplate works, among 


other customers. 

Imports are likely to continue 
at up to 20.000 tonn^i a- week 
while the strike lasts. 

The dispute originally involved 
100 blastfuroacemen . whose 
work to rule in support of the 
claim resulted in managements’ 
shutting down the 5,000 tonnes-a- 
day number three furnace. A 
Further 400 blastfumacemen 
walked out in sympathy. 

The corporation has said it is 
not prepared to offer more thao 
an extra £1 For operating the 
new work schedule. '' 


Britain needed for airbus 
successor, say W. Germans 


BY LESLIE COUTT 

THERE IS no way to proceed 
without. Britain in building a 
family of aircraft 3S a follow-up 
to the European airbus. Messer- 
schmitt-Bolkow-Biohm. West Ger- 
many's largest aerospace com- 
pany, said. 

If British Aerospace decided 
to co-operate with America 
instead of with the joint West 
German and French Aiibus 
Industrie on future projects, it 
would “ neither be good for our- 
selves nor the British.” 

The company added that “we 
need the Rntish to Help finance 
future projects and for their 
technological level. Hawker 
Siddeley has the know-how in 
wing construction." 


The British company, now part 
or Britisb Aerospace, built the 
wings for. the airbus but was not 
in the West German-French 
consortium. 

The British Government is said 
to be dose to deciding whether 
to link with tbe U.S., especially 
Boeing, and the West Germans 
and tbe French are thought to 
be near deciding whether to go 
ahead with the B-10, a 200- 
passenger, shortened version 

At the West German research 
and development centre at 
Ottobnum, outside Munich, there 
is no hint of over confidence 
after tbe recent success Airbus 
Industrie had In, selling 23 of 
the aircraft to Eastern Airlines 
and picking up nine options from 


MUNICH, June 1L 

the company for the planned 
B-10. 

Because of the increasing com- 
petition between Airbus Indus- 
trie and Boeing which seems 
likely, the American company 
has told the West Germans ' that 
it is selling its 9 per cent 
interest in the West German 
company which traces its 
ancestry to Junkers, Deutsche 
Flugzeugwerke and Messer- 
schmidt, all founded before the 
first world war. 

The West Germans, would like 
to make private more, shares of 
which the city state of Hamburg 
holds 20 per cent tbe state of 
Bavaria 25 per cent, Herr Willy 
Messerschmidt 12 per cent, and 
Aerospatiale 9 per cent 


By Stuart Alexander 

SALES OF cigarettes in the 12 
months to April 30 this year 
dropped 5J8 per cent on the pre- 
vious 12 months, according to 
preliminary figures drawn up by 
the manufacturers. . 

Part of -the cause was the 
switch to king-size brands since 

smokers tend, to tiny fewer of 

them thaw the smaller varieties. 
But cigarette sales have been 
declining for three years. ' 

The slump comes at a time 
when, the tobacco industry is in 
the midst of a fiercely competi- 
tive price war. British-American 
Tobacco is . offering heavy dis- 
counts. on' its newly-launched 
State Express 555 brand to boost 
its entry into the UK market. 

Many other long-size brands 
are also available at reduced 
prices, although ' last week 
Carreras Rothmans announced 
small price rises on most of its 
brands. 

The biggest drop in the 
smoking habit has been among 
men over . 25 in the higher 
income and social brackets while 

overall some estimates show that 

there are now more women than 

men smokers. 

This has been helped .by a 
continued Increase in smoking 

among women at the lower end 

of the .wages -scale, though there 

are now signs that, die growth 

in - -smoking among women 
overall has been halted. 

Since harmonisation with the 
EEC tax system from the start 

of this year, which narrowed die 

price differentials on large and 
small brands, there has also been 
a change in tbe market shape. 

King-size brands are now 
thought to account- for over 50 

per cent of tbe market and the 

UK is moving quickly to the 
pattern in the rest of Europe 

where there are only king size 

and standard size brands. 

In March last year, king size 
held only 22 per cent of the 
market At that time, the 
smallest filter cigarettes such as 
Players No. 10. had 14 per cent 
small filter such as No. 6, 21 
per cent, intermediate and 
standard such as Embassy Regal 
and Embassy Filter jointly had 
32 per cent, and all p lain 
cigarettes accounted for just 11 
per cent 
By March this year, king size 
had pushed up to 48 per cent 

while the share of the smallest 

had fallen to 7 per cent the No. 
6 size bad 12 per cent most 
of that sector actually held by 
Player No. 6 while intermediate 
and standard had 23.5 per cent 
and all plain 9-5 per cent 
The continuing marketing 
efforts of the manufacturers In 
the-king size sector should ensure 

there will be no falling away 

in the domination of those 
brands, but it is also likely that 

there will be some move to the 

intermediate brands by those 
still smoking tbe small 
cigarettes. 


THE LEX COLUMN 



move 


There- are a number ' of Intri- 
guing points about Standard 
Chartered’s ambitious bid for 
Union Bancorp., not the least of 
which is the question of howir 
is to be financed. Last year’s 
abortive offer for . BanCal 
Tnistate could have been 
digested without too-: much, 
trouble, but If it . is successful 
this latest deal is going to upset 
the balance-sheet ratios. 

SC is planning to.pay £200m 
— roughly three times the price 
of BanCal — and is saddting It- 
self .with flOOm -or so of good- 
will into tbe bargain. Until now 
SC’s balance sheet has looked 
fairly healthy. A& the end of 
March 1977 it had shareholders’ 
funds of £35 Qm and virtuaBy.ob 
debt. Since then A has raised 
around £60m of 'foreign 
currency debt and stiK bos 
scope, for issuing more loan 
stock, but not another £200m_ 
This would send its gearing way 
out of line even assuming share- 
holders’ funds are now around 
£400m. ' 

As a rough guide banks like 
to keep the ratio of debt to 
equity to below 30 per cent At 
the end of last year Midland 
Bank’s gearing was up around 
the 40 per cent mark' and it had 
a rights issue- to restore the' 
balance. It is hard to see bow 
SC can avoid doing the same £ 
this deal goes through. Tt might 
have more to say about its 
financing plans when st reports 


its annual results later this 
month. 

Much more interesting, 'how- 
ever, is the impact that this 
move might have on SC’s rela- 
tionship with its biggest Share- 
holder-Midland Bank. The 
latter has a 16? per cent stake 
in SC, consolidates the earnings 
and is represented on the Board 
by the senior deputy chairman 
as well as by one of its two 
chief general managers. - 
Midland has recently become 
much more aggressive in the 
domestic market undercutting 
its rivals in order to increase 
its market share.' However, its 
shortage of direct overseas 
representation-does put it at a 
disadvantage. ■ Its important 
links with European banks 
through the Ebic banking club 
do not offer the same profit 
potential as do Barclays’ or 
Lloyds’ international operations 
for example At the moment 
Midland’s -profits are' still over- 
dependent on the fortunes of a 
sluggish UK economy 


MeanW&ile-the main weakness 
of Standard, .which has unduly 
depressed its share’ price -in the 
pastvJtas been its heavy reliance 
orf South African earnings. The 
beauty of the .Union Bancorp 
move is that it will .significantly 
reduce tbe dependence. ; oa this 
sensitive area and at the same, 
time give. Standard the biggest 
dollar base of any UK bank in 
tbe biggest single banking mar- 
ket in the world. 

Midland Bank has emphasised 
in the past the value it. puts on 
‘‘closer understanding and co- 
operation 9 * with SC and there 
would seem to bea case for even 
greater co-operation if tbe 
Union deal goes through. 

Company liquidity 

The liquidity of large com- 
panies has hardly ever been 
healthier— to judge "by a survey 
of 200 big businesses conducted 
by the Department of Industry. 
In tbe first quarter of 1973, 
current liquid assets repre- 
sented 132 per cent of their 
current liabilities, which is the 
highest figure this decade and 
compares with under 100 per 
cent a year earlier. 

So last week's tightening of 
the credit screws may pose few 
immediate worries. A point to 
watch, however, is that- the 
liquidity ratio of companies— on 
this sample, at least — has tended 
to move closely in line with tbe 
stock market cycle,, touching 
bottom In the early part of 1971 
.and. late In 1974, and peaks in 
1972-73. Given rising spending 
on fixed assets and working 
capital together with last week's 
economic measures, bulls of the 
stock market may have to hope 
that history is not going to 
repeat itself. . 

Dollar convertibles 

It is very, rare to see a prime 
U_S. eQiporate borrower tapping 
the convertible Eurobond mart 
ket tbek^.days, but the 330m 
issue for' -Baker International 
(the oil tool people) could be 
a harbinger , tff . things' to come, 
If the issue is any guide, there 
appears to be a heavy pent-up 
demand for this type of paper. 
Carrying an expected 5} per 
cent coupon and a possible 15 
per cent conversion premium, 
tbe offer will probably not be 
priced until Wednesday ia 
Paris, but already it is under- 
stood. to have been oversub- 
scribe -three to four times and 
might be _ Increased in size as 
a result ’ 


U.S. borrowers have steered 
clear of this market for tbe last 
four years. The relaxation of 
U.S. exchange controls meant 
that American companies no 
longer had to go overseas to 
get their foreign capital. And 
against the background of a 
depressed U.S. stock market, 
comp ani es were - reluctant to 
issue their equity. 

However, a combination of 
rising U.S." share prices and 
rising U.S. interest rates is 
making American corporate 
treasurers think seriously again 
about 'issuing convertible debt 
here In Europe. If it had raised 
15 year money domestically. 
Baker would probably have had 
to pay around 8? per cent. 
Given that the shares cur- 
rently yield only 1$ per cent 
there is a significant cost sav- 
ing for the company once the 
issue is converted into equity: 
meanwhile European fund man- 
agers are being offered a way 
into Wall Street with an above- 
average initial yield. 

Replacing Hyde 

The Accounting Standards 
Committee is again preparing 
to grad) the bull by the horns 
as memories fade of the fiasco 
which followed the last attempt 
to lay down detailed rules for 
inflation accounting. The plan 
is to replace the very flexible 
Hyde guidelines (which com- 
panies need not follow) with 
an accounting standard applic- 
able to accounting periods 
starting on or after October 1. 
1979. The exposure draft of 
this is likely to follow the main 
Vines of Hyde but the informa- 
tion— although supplementary 
—will extend to the balance 
sheet as well as the profit and 
loss account There will proh- 
ably be a main binding state 
ment— the accounting aundan 
— setting out several genera! 
principles, and subsidiary state- 
ments giving guidance on m» 
ters such as fixed asset value 
tion, the cost of sales adjust- 
ment and gearing. 

By issuing its statement of 
intent nine months ahead of 
the exposure draft, the ASC is 
both clearing the air and giving 
major companies ample oppor- 
tunity to make their views 
known. At the same time the 
chances of another grass roots 
revolt in the accountancy pro- 
fession are greatly reduced by 
the planned exemption of com- 
panies with turnover of less 
than £lm. 


Weather 


• UK TODAY 
SUN. showers. 

London. SE. CeiL, S and N 
England, W Midlands 
Dry, cloudy, sunny intervals. 
Max 18C (64F). 

Channel Is* SW England, 

S Wales 

Dry, sun. Max. L8C (64F). 

E. Anglia. E and NE England, 
Borders. Edinburgh, Dundee 
Sun. showers- Max. I6C (61F) 
N Wales, NW England. Lakes, 
Is. or Man, SW Scotland; 
Glasgow: Cen. Highlands, N 
Ireland 

Dry. cloudy. Max. 16C’(61F) 
Aberdeen. Moray Flrth^NE 
Scotland. Orkney. Shetland 
Showers, sunny Intervals. Max. 
14C (57F). 

Argyll. NW Scotland' 
Cloud. Max. 13C (55F). 
Outlook: dry. sun. 


BUSINESS CENTRES 


Statement sought on London race riot 


BY RICHARD EVANS 

MPs WERE EXPECTED to seek 
a statement from Mr. Merlya 
Rees, tbe Borne Secretary. In the 
Commons today after disturb- 
ances last night in an area of 
London's East End heavily popu- 
lated by Bengalis. 

Mr. Arthur Latham. Labour 
MP for Paddington, urged Mr. 
Rees to call immediately for a 
Special Branch report on the 
events leading up to the vio- 
lonce. , 

Police arrested 20 people after 
a mob of about 150 white youths 
stormed through an area centred 
oc Brick Lane. Stepney, in the 
London Borough of Tower Ham- 


lets, where Greater London 
Council is considering setting 
aside blocks of fiats specifically 
for Bengalis, who have com- 
plained about intimidation from 
white youths. 

The attack, mounted from 
three sides, lasted about 15 
minutes. Fighting broke out, 
cars were damaged and dozens 
of shop windows smashed as 
youths rao through the streets 
hurling stones. 

Mr. Harry Fishman, a Brick 
Lane newsagent, said: “There 
were about 150 of them — like an 
army. They were shouting ‘Kill 
the black bastards.’ . 


“ They really went berserk. 
Every Sunday they come down 
here, looking for trouble. 

“ Tlie coloured people can 
look after themselves when there 
is 10 or 20 of them, but this time 
it was 150. 

“ The coloured people came 
out of their fiats and faced the 
attackers. Then tbe police came 
along. 

“ I was born here 69 years ago. 
but it has never been as .bad as 
this, never.” 

A Scotland Yard spokesman 
described the incident as a 
“ serious disturbance." Extra 
police had been drafted Into the 


area, now reported quiet. 

The 20 youths arrested, all 
white, were helping police at 
Bethnal Green Police Station. 

A man was taken to hospital 
for stitches in the mouth, after 
being hit by a stone. 

Mr. Abdul Monatn. 55, said he 
was serving customers in his 
grocer's shop in Brick Lane 
when the stone smashed through 
the window. 

A National Front ' weekly 
meeting was held nearby earlier, 
but passed off peacefully. A 
police spokesman said: “There 
is no evidence to connect this 
with the National Front” 


Alemdrla. 

Auk? dm. 

Aliens 

Bahrain • 

Barcelona 

Beirut 

Belfast 

Belarade 

Berlin 

Brmrtnn, 

Bristol 

Brussels 

Rud attest 

B Aire* 

Cairo 

Cardiff 

ChJeaiw 

Colotatr 

Capnbasa. 

DabUn 

Edinburgh 

Frankfort 

Geneva 

Glasgow 

Helsinki 

H. Knm 
JoTsore 

I. lftwn 


Y'day 
mid da* 
•C m t 
F 28 78 
F 14 37 
S 28 82 
S 33 tt 
C 31 75 
S 29 34 

run 

CUM 

u a 

U 6fi 


Laxemb'ff 

Madrid 

Mancfcstr. 

Melbourne 

Milan 

Montreal 

Mum eft • 

Newcastle 

New York 


R 

S _ . 

S w M! Osin 
F 15 59|P3rii 

f y » 

S 14 37| 

S 34 94 
S IB -81 
28 » 

14 97 

tB n 
is et 

.14 97 
U 58 
18 0 
13 98 
t7 S3 
S 39 ST' 
s a ts 
C 18 88 


Perth 

Prune 

Reykjavik 

Rome 

Singapore 

Stock holm 

Smsbrg. 

Sydney 

Tehran 

Tel Am 

Tokyo 

Toronto 

Vienna 

Warsaw 

Z&rich 


Y’day 
midday 
•c :f 
s so es 
C 12 54 
F 24 75 
C 15 
C S 48 
P tt 82 
S 23 tt 
IS- 9 
18 88 
25 77 
1« 84 
18 '84 
16 61 


F 
C 

s 
c 

p 
p 
c 
c 
c 
c 

R IX 94 
F W 84 

cun 
s m - 

S 37 81 
C SO .. 
S » 77 
C 18 88 
C U 57 
F 18 64 


Tt 81 
9 89 


HOLIDAY RESORTS 


Vd . 

•C *F 
Ajaccio F 25 77 
Algiers F 24 73 
Biarritz S .18 64 
Blackpool C 13 53 
Bordeaux S 21 78 
Boulogne S 17 63 
CasablOca. C 21) S3 
Cape Town C IS 61 
Corfu C 27 SI 
□ubromlk S 28 S! 
Faro C II a 
Florence F 23 77 
F un cha l F W SB 
Gibraltar S 31 78 
Guernsey S u 37 
Idasbnck C 17 -83 

I nvern ess C 13 55 
Isle of Man C - 14 S7j 
ICtuhul S 25 77/ 
O— Cloud. F— fair. 


Jersey 
Las Pirns. 
Locarno 
Luxor 
Majorca 
Malasa 
Malta 
Nairobi 
Naples 
Nice 
Nicosia 
Oporto 
Rhodes 
Salabora 
Tangier 
Tenerife 
Tunis •. 
-Valencia. - 
Venice 
R— ■Rain. 


Vday 

TTrl/May 

•C 

S 18 81 
C 22 li 
P 27 ST 

s am 

C 22 71 
5 27-81 
S 3 54 
S 11 74 
C 31 88 
F 35 73 
S 28 82 
S 28 68 

S Tt 81 

c is a- 
G 38 68 
rrts n 

P 24. 73 
C 36 75 

c n ts 

S— Sun. 




M C ALPINE AVIATION’S 

Big Fleet Means Business 

Welcome aboard. This is one of the mamificenfc 
^ business jets in M c Alpine Aviations big fleet. 

* Britain^ largest operator of executive aircraft— 

.and deterr^^to be the best’* 


tion ring 
i2 24182 or Telex 82185, macair 


wuui ± "tt t 

,Engl ^S% 


v "A 





H-, 


■' Hj 

.1 a 

i ijf 

; 

. cs- 


; 9 . 

iii 

.1 I 

! i i? 


Rsstsserod at the Prat MBaC -Printed by. 3L aemenrs Press for. mid pttbftehed 
by at? Financial Times LnL. Brackett House, Cwipon --Street.- London. EC4P - 6BY.- 
v - ... 0 T7m "Financial- Ttmra ua„ lire