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Printed Simultaneously 
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ANGUISH AFTER EXPLOSION — A bystander 
comforts die mother of one of 18 persons hint in the 
tombing of a Paris theater during a Jewish fflm festival 
About 6,000 people marched Sunday In protest Page 2. 


U.S, and Soviet Generals 
To Discuss Major’s Death 


* 


* 


By John M. Goshko 

and Michael Wdsskopf 

Washington Past Service 

WASHINGTON — Secretary of 
State George P. Shultz and the So- 
vfa ^ambassador to the United 
States, Anatoli F. Dobrynin, have 
agreed that the commanders of 
U.S. and Soviet-forces in Germany 
would meet to discuss ways to pre- 
vent such incidents as last week’s 
fatal shootwgpfa U.S. Aimy ma- 
jor by a Sovietseatry in East Ger- 
many. 

The agreement,, reached Satur- 
day during a 70-minuic session at 
the State Department, was de- 
scribed by "Mr. Dobrynin and a 
spokesman for- Mr. Shultz as in- 
tended-sot only to forestall such 
tisettf force hot also to ease, ten- 
sions hat followed the killing of 
Major Arthur D. Nicholson Jr. 

The major was buried Saturday 
at Arlington National Cemetery in 
Ariingtoiv Virginia. 

That were signs that sense offi- 
cials in the Reagan administration 
want a tough response to the Soviet 
Union. ButLhe agreement between 
Mr. Shultz and Mr. Dobrynin ap- 
peared to reflect a decision by both 
governments not to allow Major 
Nicholson’s death to interrupt ef- 
forts to improve -relations on a 
broad range of issues, including the 
arms talks in Geneva and possible 
meeting between President Ronald 
Reagan and the Soviet leader, Mik- 
hail S. Gorbachev. 

Major Nicholson, an army liai- 
son officer operating in East Ger- 
many, was snot March 24 by the 
sentry near a storage building. U.S. 
officials maintain that he was per- 


mSIDE 

■ Docmneats obtained by the 
French ermfinn that Russia re- 

theWest/ Page 2. 


a- •* 


to the gas leak in Bhopal, India, 
are stm too ill to work. Page 2. 

■ Hie National Security Coun- 
cil has eedpsed the U.S. cabinet 
as a center of influence Page 3. 

BUSINESS/FINANCE 

■ Argentina implemented 

sweeping tax and otha - finan- 
cial reforms. Page 7. 

SPORTS - 

■ Georgetown and Villanova 

will play for the National Colle- 
giate Athletic Association bas- 
ketball title. Page 13. 


mitted to make observations and 
take photographs under the long- 
standing ground rules of what they 
called a “cat-and-mouse game 5 ’ 
played by U.S. and Soviet inlelli- 
genefrgatbering teams in East and 
West Germany. 

The Soviet Union has contended 
that Major Nicholson was caught 
spying and was shot only after he 
ignored the sentry’s wanting shot 
and tried to flee. 

The Reagan administration indi- 
cated last Wednesday that if the 
Soviet Union did not take con- 
structive steps to prevent such mo- 
derns, (he United States would be 
forced to consider retaliatory mea- 
sures. However, a spokesman for 
Mr. Shultz said that Saturday’s 
agreement was the land of response 
the United States wanted. 

“We are very pleased with this 
agreement to Have our command- 
ers in chief get together to discuss 
Jhismatter and to ensure that there 
will be no repetition of such epi- 
sodes," Mark Palmer, a deputy as- 
sistant secretary for European af- 
fairs, said on Mr. Shultz’s behalf. 

Mr. . Dobrynin said that “the 
commander in chief of the group of 
Soviet forces in Germany and the 
commander in chief of the UJL 
Army in Europe and their repre- 
sentatives would establish contacts 
to discuss questions related to dos- 
ing this entire matter and also to 
consider possible measures to pre- 
vent incidents with the members of 
the intelligence Hoisnn missions." 

However, a more combative tone 
was taken earlier Saturday by De- 
fense Secretary Caspar W. Wein- 
berger. Returning to Washington 
from meetings in Europe, Mr. 
Weinberger said on his plane, *7 
don’t think the subject is finished 
by any means.” 

While emphasizing that the 
United States was tmlikdy to do 
anything that might scuttle hopes 
for a summit meeting, Mr. Wein- 
berger said the administration was 
studying “other means of convey- 
ing to the Soviets our repulsion and 
supreme anger” over the killing of 
Major Nicholson. 

State Department officials 
pointed out mat when Mr. Wein- 
berger made his comments, be 
probably was unaware of what had 
' happened at the Shultz-Dobrynin 
meeting. 

The officials also said that there 
was unanimous agreement in the 
administration that Major Nichol- 
son’s killing was “a reprehensible 
and inexcusable act,” but they de- 
nied there was any split about how 
the United States should handle 
the situation. 


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ZURICH, MONDAY^ APRIL 1, 1985 


Greece 
Agrees to 
Accession 

EC Overcomes 
Objections to 
Spain , Portugal 

By Steven J. Dry den 

International Herald Tribune 

BRUSSELS — Greece has with- 
drawn its threat to veto the entry of 
Spain and Portugal into the Euro- 
pean Community after EC leaders 
approved an aid program for 
Greece and other Mediterranean 
nations of the community. 

The Greek decision Saturday re- 
moved the last major obstacle to 
ibe entry of Spain and Portugal 
into the community by Jan. 1, the 
target date for membership. The 
Iberian nations agreed Friday with 
the EC on terms of entry. 

EC leaders, on the final day of 
their summit meeting Saturday, ap- 
proved a seven-year program of 
grants and loans totaling 6.6 billion 
European Currency Units ($4.75 
billion) to help the poorer regions 
of Grace, Italy and France adjust 
to the increased economic competi- 
tion resulting from the membership 
of Spain ana Portugal 

Greece will receive at least 2 bil- 
lion ECUs from the program in the 
form of grants and aid from exist- 
ing EC agricultural and regional 
funds. 

Prime Minister Andreas Papan- 
dreou of Greece had threatened to 
block the entry of Spain and Portu- 
gal if his country did not receive 
sufficient aid from the special fund, 
known as the Integrated Mediter- 
ranean Programs. Greek officials 
had said they wanted 25 billion 
ECUs. 

Fob owing the conclusion of the 
summit meeting, Theodoras Pan- 
galos. the Greek secretary of state 
for EC affairs, said that the amount 
cl aid approved for Greece was 
“not the agreement we hoped for, 
but it is a successful solution." 

EC officials said that Greece had 
been under pressure from other 
member stales not to block the en- 
try of Spain and Portugal. 

During the summit meeting, the 
EC leaders also discussed the Stra- 

(Coatumed on Page 2, Col 7) 



Yasuhiro Nakasone, right, met with Gaston J. Sigur, a U.S. trade envoy. 

France Is Considering Selling 
Some Nationalized Holdings 


By Axel Krause 

International Herald Tribune 

PARIS — The French govern- 
ment is considering selling its hold- 
ings in industrial companies it na- 
tionalized in 1982, according to 
Edith Cresson, the minister of in- 
dustry. and senior executives of 
several state-owned companies. 

Even a partial denationalization 
would represent a major political 
reversal for the Socialist govern- 
ment, which came to power in May 
1981 proclaiming that nationaliza- 
tion was the means to stimulating 
economic growth and investments. 

The executives, who spoke on the 
condition they not be identified, 
said Sunday that they were sur- 
prised by the disclosure of the pro- 
posed move by Mrs. Cresson, 
which appeared Saturday in an in- 
terview with Liberation, a leftist 
Paris daily. 

Mrs. Cresson provided no de- 
tails, nor did she identify the com- 
panies the government was consid- 
ering for partial denationalization. 
Company executives said Sunday, 
however,' that the government ap- 
peared to be thinking .primarily 
about Rhdne-Potdeuc SA, France's 
largest chemical company: Pe- 


S Ugine Kuhlmann SA a 
iirgical company; Cie. de 
Saint-Gobatin, a diversified maker 
of .glass and other binktingprod- 
ucts; and Cie. Gen&rale i ’Electri- 
rire, an industrial holding company 
with important interests in tele- 
communications and electrical 
equipment manufacturing. 

Each of the four nationalized 
companies reported profits for 
1983 and 1984. The four are expect- 
ed to report increased earnings in 
1985. The government also is con- 
sidering selling shareholdings in 
other companies natio nalize d in 
1982, notably the Thomson elec- 
tronics group, and Bull, France’s 
leading maker of computers. Both 
substantially reduced their losses in 
1984 from the year earlier, and ex- 
pect to he profitable this year or 
next. 

Aides to Prime Minister Laurent 
Fabius also raised the possibility of 
selling the shares during recent 
confidential conversations, an ex- 
ecutive of one of the companies 
said. 

“The interview is clearly deliber- 
ate, a trial balloon to test reaction 
petite. unions and left-wing politi- 
ck' groups, ’ an executive swo. ’it 
also shows how Mr. Fabius, and 


Sidon Battles Continue; 
Dead in South Put at 43 


The .itsodated Press 

SIDON, Lebanon — The fight- 
ing around this port city continued 
Sunday, a day after at least 41 per- 
sons were reported killed and more 
than 90 were wounded, as Chris- 
tian militiamen in the hills , to the 
east battled Moslem and Palestin- 
ian fighters in neighborhoods on 
the city's outskirts. Two persons 
.were reported lolled Sunday. 

Saturday’s casualties were in- 
flicted during fighting involving the 
Lebanese Army, Lebanese factions 
and Palestinians, and in art Israeli 
raid on a village in southern Leba- 
non. The heaviest toll was around 
Sidon, which is 24 miles (38 kilome- 
ters) south of the capital of Beirut 

At least two persons died and 
four woe injured Sunday, report- 
ers in southern Lebanon said. They 
said that the overnight fighting in- 
volving tanks, rocket-propelled 
grenades and automatic weapons 
declined to intermittent sniping for 
about three hours, then resumed 
again on Sidon’s east side. 

The heaviest fighting was report- 
ed in the Ain el Helwefa camp of 
Palestinian refugees east of the city 
and at Lebanese anny positions on 
the Mar Elias hill nearby. The re- 
porters said the Christian areas 
were heavily shelling the camp and 


the army base, both of which were 
returning fire. 

' The 12 days of fighting around 
Sidon involved Palestinians for the 
first time on Friday. The fighting 
began between Christians and 
Moslems in the mountains east of 
Sidon; Moslem units of the Leba- 
nese Army, reportedly joined the 
battle. 

Efforts to end the violence have 
failed, with several cease-fires hav- 
ing gone unheeded. All roads that 
link Christian areas with Sidon 
were cuL Six battalions of the Leb- 
anese Army, about 5,000 men, 
took op positions around Sidon af- 
ter Israeli forces withdrew Feb. 16. 

The casualty count from Satur- 
day’s battles and the Israeli raid 
outside its occupation zone came 
from police sources. Some newspa- 
pers and officials gave figures that 
would raise the death toll to more 
than 50. 

In Beirut, meanwhile, two of the 
recent kidnapping victims have 
beat released Danielle Perez, a 
French citizen kidnapped in West 
Beirut on March 22. was freed un- 

Brian Levick, ^ a British^busi- 
nessman, was freed Saturday. 

In announcing the release of 
Mrs. Perez, a French Embassy 



Tha AnocMod Prm 


A Palestinian searched for the body of his son at the 
morgue of Sidon hospital following the weekend fighting. 


spokesman said that she “was well 
treated and she is in excellent 
health." 

■ UJS. Reportedly Warns Iran 
The United States has secretly 
warned Iran it faces military retali- 
ation if Americans kidnapped in 
Lebanon recently are tried or exe- 
cuted, United ness International 
quoted The Sunday Times of Lon- 
don as reporting. 


Western intelligence sources said 
the White House delivered the 
warning in a message to Iran at the 
be ginning of March, the paper re- 
ported. 

Five Americans were still miss- 
ing after being kidnapped in Beirut 
in the past year. Islamic Jihad, an 
extremist Moslem group with con- 
nections to the Shiite regime of 
Ayatollah Ruhollah Khomeini, has 
said it is holding all five. 


ESTABLISHED 1887 


Nakasone Meets 
U.S. Envoy on 
Trade Dispute 


other ministers, are increasingly 
shifting their thinking on economic 
policies to the political right" 

During the past several months, 
deputies of opposition parties in 
the National Assembly, and several 
law firms in Paris, have been pre- 
paring strategies for the possible 
return of state-controlled compa- 
nies to private ownership in the 
event the Fabius government loses 
the 1986 legislative elections. 

Mis. Cresson, noting the reduc- 
tions of state holdings in compa- 
nies currently under way in West 
Germany and Britain, told the 
newspaper that she considered it 
“absurd" to approach the issue in a 
“systematic, ideological" manner, 
and that if the government decides 
to reduce its holdings, on a case by 
case basis, “why not?" She said that 
in selected cases, and with a view to 
generating funds for future invest- 
ment, she would not oppose reduc- 
ing the government's shareholdings 
in industrial companies. 

Mrs. Cresson also said that the 
government would probably de- 
control automobile retail prices in 
June. Auto prices have been frozen 
since shortly after the government 
took power. 


By John Burgess 

Washington Post Service 

TOKYO — A personal represen- 
tative of President Ronald Reagan 
met for almost two hours Sunday 
with Prime Minister Yasuhiro Na- 
kasone in what appeared to be an 
emergency effort to defuse tension 
over U.S.-Japanesc trade. 

Emerging from the meeting with 
Gaston J. Sigur, a National Securi- 
ty Council staff member, Mr. Na- 
kasone said that they discussed the 
full range of trade issues. 

“We talked a lot about bow to 
collaborate,” be said. 

Mr. Sigur declined comment af- 
ter the unusual Sunday meeting at 
Mr. Nakasone's office. 

[A Japanese Foreign Ministry 
spokesman said that Mr. Sigur de- 
livered a personal letter from Presi- 
dent Ronald Reagan urging that a 
high-level decision be made to re- 
solve trade friction. The Associated 
Press reported.] 

The United States hopes to re- 
duce its trade deficit with Japan. 
The deficit last year was 536.8 bil- 
lion, up from S21.7 billion in 1983. 

Mr. Sigur arrived Saturday in 
Tokyo with Lionel H. Oimer, un- 
dersecretary of commerce for inter- 
national trade, in what appeared to 
bean Uth-hour campaign to wrest 
concessions from Japan before new 
telecommunications regulations go 
into effect Monday. 

Mr. Reagan sent the envoys after 
being told that Japanese negotia- 
tors had not kept a co mmitmen t 
made by Mr. Nakasone in January 
that Japan’s newly denatio nalize d 
telecommunications market would 
be opened to U.S. products. 

The new Japanese regulations 
can either assure U.S. companies of 
equal access or keep the aoor shut 
against them. 

Mr. Reagan has formed a dose 


help but make some sacrifices in 
the process to open markets. 

Mr. Sigur was scheduled to meet 
later Sunday with the Japanese for- 
eign minister, Shin taro Abe. 

Members of the Japanese cabi- 
net met Saturday to discuss mea- 
sures to open markets. Mr. Naka- 
sone has promised that the changes 
win be announced April 9. But no 
conclusions were reached at the 
meeting. 

In addition to steps in telecom- 
munications, the government has 
promised action to facilitate sales 
to Japan of electronics equipment, 
forestry products, medical equip- 
ment and pharmaceuticals. 

The U.S. Senate, reacting Thursr 
day to news that Japan planned to 
increase auto exports to the United 
States by 450,000 vehides a year, 
voted, 92-0, in favor of a nonbind- 
ing resolution calling on Mr. Rea- 
gan to retaliate with tariffs or quo- 
tas against Japan unless it took 
steps to open its markets. 

Such pressure from Washington 
has created resentment among Jap- 
anese officials; they contend that 
their country is being made a 
scapegoat for a trade imbalance 
that is primarily the fault of the 
United States. 

Threats of retaliation in the U.S. 
Senate resolution have particularly 
angered some members of the gov- 
erning Liberal Democratic Party. 
They are said to be talking of ways 
that Japan might retaliate. 

Officials here now talk routinely 
of frustration in dealing with 


mg the past two years and is gener- 
ally more sympathetic than 
Congress to Mr. Nakasone's claims 
•that he is pushing as hard as he can. 

Mr. Nakasone said Saturday 
that Japanese industry could not 


Americans. They say Washington 
should recognize that Tokyo is 
making serious concessions to open 
its market 

A Japanese involved in the tafia 
said “U.S. congressmen and sena- 
tors are shying away from factual 
details." 

Another official said: “The per- 
ception is growing ui the United 
States that the Japanese will not do 
anything unless they are beaten 
up." There is a danger that “antag- 
onism will flare up at both ends, 
feeding on each outer," he said. 

In a speech last week to the For- 
( Con tinued on Page 2, CoL 3) 


Panel SecretfyApproves 
U.S. Military Payroll Cut 


By George G Wilson 

Washington Post Service 

WASHINGTON — The Repub- 
lican-controlled Senate Armed Ser- 
vices subcommittee on manpower 
has voted in a secret session to cut 
the Pentagon payroll by 175,000 
people over the next two years to 
help hold down military spending. 

The cut, if enacted, would re- 
quire a reduction in the active duty 
force of the the anny, navy, air 
force and marine corps by 75,000 
uniformed personnel and the De- 
fense Department's civilian woik 
force by 100,000 employees over 
fiscal 1986 and 1987. 

At the same session, the subcom- 
mittee voted to delay President 
Ronald Reagan’s recommended 3- 
percent pay increase for the mili- 
tary to January from July, when it 
would be raised to 4 percent. 

The manpower subcommittee's 
votes were the first congressional 
actions dealing with specific details 
of Mr. Reagan's S313.7-biIUon fis- 
cal 1986 military budget request. 
The Senate Budget Committee vot- 
ed earlier to cut his overall budget 
by about S18J billion, but that 
action is not binding and does not 
deal with individual programs. 

The subcommittee actions indi- 
cate that the Republican majority 


on the Senate Armed Services 
Committee has targeted manpower 
and such proposals as the “Stealth” 
bomber to reduce the total military 
budget while saving jobs tied to 
such active programs as the MX 
missile, B-l bomber and Navy 
shipbuilding 

Of the actions taken by Congress 
on the new military budget. Penta- 
gon officials are most upset about 
the proposed manpower cuts, espe- 
cially for the active duty forces. 

“It would be back to the hollow 
army and new ships being delivered 
without enough people to run 
them,’’ said a Defense Department 
executive, who declined to be 
quoted by name on the ground that 
the Senate subcommittee’s actions 
officially are secret. 

Republicans voted against Mr. 
Reagan and Democrats for him on 
the manpower issue in the subcom- 
mittee last Thursday, sources said. 

Mr. Reagan's new military bud- 
get calls for increasing active duty 
strength of 2.15 million people in 
uniform by 27,000 and the civilian 
work force of slightly more than 
one million by 18,000. 

If the subcommittee recommen- 
dation is followed, the active duty 
strength of the military would be 

(Continued on Page 2, CoL 1) 


Kennedy Hints at Presidential Race 


By Don Phillips 

Washington Paa Service 

■WASHINGTON —Senator Ed- 
ward M. Kennedy has strongly sig- 
. ruled his interest in running tor the 
presidency in 1988, hinting that he 
no longer feels constrained by fam- 
ily considerations that kept him out 
*’ <* the, 1984 race and saying, Td 
tike to be president someda" “ 


-Globe, in speeches Friday al 
Hempstead, New York, and is a 
strategy session Saturday of Demo- 
cratic senators in Shepherdstown, 
West Virginia, the Massachusetts 
Democrat, 53, hinted al his plans 
and adnunosbed the Democratic 
Party , to steer a more moderate 

cotrae.fw l?8i 

' ***; Mr- Kennedy has not 

- - been so sperific about his plans.. . 
■_ “r vgglways said Td Bk to be 
presdoit sbineday" he said in the 
g toWViefcwith The Globe, "though 
jV 1 ' “p my. own contacts 

peopfe attHnw country is 

toejpFestiH too exhausted from 
felsBa.e&tibn.to be focusing on 


be readily activated should any de- 
cision come,” be said. 

The Globe quoted senior Kenne- 
dy advisers as saying that a deci- 
sion was at least a year away. 

Mr. Kennedy was defeated in his 
1980 bid for the Democratic nomi- 
nation by President Jimmy Carter. 
He did not run in 1984, citing per- 
sonal and family considerations. 


with the loss of so many able and 
gifted Senate members, there has 
been, an increasing vacuum. I have 
welcomed the chance to be in- 
volved, and it’s become very inter- 
esting and challenging work, 
though I still fed the frustration in 
terms of talcing ideas and turning 
them into policies," 

Mr. Kennedy's weekend poH- 




: V .^^I^Danniam rny political 
•xwmm^pahd coiuacts,and hope- 
that could 


town newspaper, that “My children 
and the other members of my fam- 
ily I fed responsible for are dearly 
doing very weQ today.” 

Mr. Kennedy's previous at- 
tempts to seek his party's presiden-. 
dal nomination have been dam- 
aged by the incident known as 
ChappaquiddicL A staff member, 
Mary Jo Kopechne, drowned in 
1969 when a car driven by the sena- 
tor fell from a bridge on Cbappa- 
quiddick Island off the Massachu- 
setts coast, 

Mr. Kennedy emphasized in the 
interview that Ik would be satisfied 
to remain a senator from Massa- 
chusetts. 

■“When the Republicans took 
oyer the Senate, I thought there 
would be. less opportunity to shape 
policy,” Mr, Kennedy said. **Bnt 


with a symposium on thenreaden.- 

ct of his assassinated brother, John 
F. Kennedy. He served notice that 
he would be at least a major force 
in the debate over the party's fu- 
ture. 

He called on Democrats to steer 
a more centrist course and woid 
becoming the party of special inter- 
ests. 

“As Democrats, we must under- 
stand that there is a difference be- 
tween bang a party that cares 
about labor and being a labor par- 
ty,” he said. “There is a difference 
between being a party that cares 
about women and bong the wom- 
en’s party. And we can and we 
must be a party that cares about 
minorities without becoming a mi- 
nority party. We are citizens first 
and constituencies second" 



Model Town Is Trouble Spot for South Africa 


Senator Edward M. Kennedy 

He accused Democrats of loans 
“the feding of hope, the spirit of 


and he called for a re-examination 
of the party's positions. 

“We cannot and should not de- 
pend on higher tax revenues to roll 
in and redeem every cosily pro- 
gram,” Mr. Kennedy said "Rather; 
those of us who care about domes- 
tic progress must do more with 
less." 

He said Democrats must show 
“the courage to discard” outdated 
programs. 


By Allister Sparks 

Washington Peal Service 

EKANGALA, South Africa — Julius Ma- 
sopha is the community leader of a new 
township that the South African government 
has held up as a model of its reformist policy 
for blacks. Yet, Mr. Masopha was hiding 
from the police over the weekend, fearing 
arrest because his model township has be- 
come another trouble spot in the widening 
arc of racial unrest. 

The minister in charge of black affairs. 
Genii N. Vtljoen, said recently in an .Ameri- 
can television broadcast from South Africa 
that the township, called Ekangala, was a 
shining example of the government’s new 
policy of “orderly urbanization" for Afri- 
cans. 

But the next day police dispersed a protest 
meeting in Ekang ala with tear gas, rubber 
bullets and sho tg uns. A youth was killed, 
another was wounded 

Mr. Masopha, who organized the protest 
meeting, has since spent each night at a 
different place in the blade townships of the 
Witwatersrand region. His wife, Helen, said 
the police have called several times to arrest 
fang . Other members of his six-man commit- 
tee are also in hiding. 

The transformation of this model township 
into a trouble spot offers some insights into 
the apparent contradictions preset! tod by the 


South Africa of President Pieter W. Botha, 
where the talk is of reform but racial unrest is 
getting worse. 

Ekangala is, in fact, the centerpiece of a 
major exercise in social engineering. 

Having acknowledged the impossibility of 
a key feature of the apartheid ideology, which 
was to keep blacks out of the cities, the Botha 
government now accepts their permanence 
but its planning suggests that it wants to 
cushion the effect of this decision by holding 
as many as possible at a maximum commut- 
ing distance. 

The growth of black townships such as 
Soweto, which are close to the big cities, is 
bong restricted Outer industrial belts are 
being created, up to 100 miles (160 kQome- 
ters) away. Economic incentives are used to 
encourage industries to set up there, and the 
provision of housing is manipulated to com- 
pel black workers to live in townships in these 
new “growth points." High-speed trains are 
planned to cany long-distance commuters to 
jobs in the cities. 

Where possible, the new commuter town- 
ships are incorporated in tribal “homelands” 
scheduled for nominal independence so that 
politically, as well, they do not impinge upon 
what is regarded as "white" South Africa. 

Ekangala, 75 miles northeast c*f Johannes- 
burg, is the nucleus of the outer belt being 
established for the Witwatersrand region. 


named for a 60-mile-long ridge with Johan- 
nesburg at the center. Ekangala is planned to 
have a population of 300,000 in 15 years. An 
industrial complex called Ekindustria is ris- 
ing from the veld, or grassland, nearby. 

Charles Marx, chairman of an organization 
called the East Rand Administration Board, 
which administers black affairs in the area, 
outlined the rationale for establishing Ekan- 
gala. 

“The population of the Witwatersrand has 
already outgrown the infrastructure of the 
area, so decentralization is essential” Mr. 
Marx said. “It would be better for industrial- 
ists to move now to areas where land is not so 
expensive and labor is cheaper.” 

The provision of bousing in existing black 
townships along the eastern Witwatersrand is 
being slowed. Thousands of dwellings deter- 
mined to be illegal are being demolished. 
People desperate for bouses are told they 
must go to Ekangala. 

Julius Masopha, 27. was one of those who 
was forced to make this choice, even though 
he works in the western Witwatersrand, 
which means be spends six hours commuting 
by bus every day. 

' He was not unhappy about it. Physical 
conditions in Ekangala are better than in 
other black townships along the Witwaters- 
rand- The houses have electricity and running 
(Continued on Page 2, Cd. 6) 


■ ■ . 




Page 2 


INTERNATIONAL HERALD TRIBUNE, MONDAY, APRIL 1, 1985 


Thousands Remain 
Incurably Afflicted 
After Bhopal Leak 


By Srcven R. Wdsman 

New York Times Service 
BHOPAL, India — Thousands 


that leaked from the union 
bide pesticide factory here in De- 
cember are suffering from incur- 
able problems with breathing, 
sleeping, digesting food and per- 
forming even light physical labor, 
doctors say. 

Government health officials say 
(hat 5,000 to 10,000 people wifi 
probably never be able to make a 
living because of their injuries. But 
robTems in counting the injured 


forced, to pay. Lawsuits seeking 
compensation have been filed in 
the United States. 

As for the medical relief system, 
“the situation is chaos,” said Dr. 
ILK. Basarya, a thoracic and car- 
diovascular surgeon who until last 
week was the mayor of this city of 
700,000 in the parched hills of cen- 
tral India. 

“Different groups are coating in 
and giving oat their own medicines, 
like cortisone or injections of other 


drugs," Dr. Basatya said. 


proi 


and keeping treatment records on 
them have led to angry assertions 
it health groups that 
; could actually be as many as 
50,000 people who were seriously 
injured. 

Moreover, confusion, inefficien- 
cy and haphazard record-keeping 
are plaguing the medical relief sys- 
tem created for the victims, health 
experts said in interviews. 

The experts said there was ran- 
dom or casual prescribing of pain- 
killers, sedatives, antacid tablets 
and many other drugs, some of 
which were potentially harmful. 

In addition, health experts and 
some local and national govern- 
ment officials said there would 
probably never be a precise figure 
of how many people died from the 


leak of methyl isocyanate at the ' 
Union Carbide ~ 


factory on Dec. 3. 
It was the worst industrial accident 
in history. 

The state government of Ma- 
dhya Pradesh, which has overseen 
the relief and counting efforts, re- 
ported last week that it had count- 
ed 1,431 deaths and that about 
1,150 of the dead had been, identi- 
fied. 

After the accident, In dian jour- 
nalists in Bhopal made surveys of 
burial grounds, cremation areas 
and hospitals, and from that esti- 
mated that 2,000 to 2^00 people 
had died. 

The Indian government is stick- 
ing to its official toll of 1,400. Gov- 
ernment officials say that regard- 
less of how many actually died in 
the accident, it appears unlikely 
that the official count will rise 
much beyond 1,700 or 1,800 be- 
cause of the difficulty of tracking 
down and identifying all who died. 

Some private groups have assert- 
ed that the number of deaths is 
from 3,000 to 15.000. 

The state government is the only 


lo records are being kept,” he 
said. “Many of the treatments are 
questionable. There is no docu- 
mentation and no follow-through 
to see if the treatments are even 
working.” 

Another health expert. Rash mi 
Mayor of the Urban Institute in 
Bombay, said he had come across 
one victim who bad been able to get 
250 pills in one day from seven 
different doctors. 

“This is medicinal anarchy,” he 
said. 

Visits to some of the makes hift 
clinics in the old city, and to some 
of the areas near the factory, 
showed that many victims were 
keeping do health records, only 
scraps of paper prescribing various 
drugs. 

At a hospital set up in a govern- 
ment building in one of the most 
badly affected neighborhoods, 
scores of men, women and children 
waited in line in sweltering beat, 
waving crumpled pieces of paper at 
harassed medical attendants. The 
medical workers were scooping up 
(tills and shoving them into the 
hands of those waiting. 

One person who had been in the 
line, Bad ura Neisba, said she had 



1 Soviet Data Show 
Arms Makers Rely 
On High-Tech Spies 


PAPAL WARNING — Pope John Paul Q began the 
Easter Holy Week with a warning Palm Sunday at the 
Vatican that man was giving in to the devil’s temptations 
“in tins electronic world of stupendous discoveries.” 


WORLD BRIEFS 


Group Says It Killed Basque Publisher 





6,000 in Paris Protest 
Blast at Jewish Filmf est 


The Associated Press 

PARIS — About 6,000 people, 
including leading cultural and po- 
litical figures in France, marched 



treatment at several other hospitals 
before setting into a pattern of 
coming to this one every five days 
for pills and cough syrup. 

“I have taken these but they give 
me no relief." she said, explaining 
that she .suffered from breathless- 
ness, a cough and a lin gering pain 
in her rib cage . 

Dr. Ishwar Dass, who supervises 
the medical relief effort for the gov- 
ernment, acknowledged that vic- 
tims of the gas leak appeared to be 
going from one to anntner of the 20 
clinics and hospitals 


Jhopal in a despoaxe search for 
es that h 


cures that he said did not exist. 

'll is not a question of their 


group that has conducted anything being given adequate treatment,” 
purporting to be a comprehensive he said. “Given the state of the art, 
survey of the victims. Its figure of titere are no treatments available 


l ,43 1 deaths is based on a i 
cemeteries, crematoriums and hos- 
pitals, as well as public appeals and 
door-to-door attempts lo get peo- 
ple to come forward with names of 
family members or acquaintances 
who died. 

Those involved in the counting 
said their efforts were hampered by 
the difficulties in surveying a popu- 
lation of beggars, transient workers 
and other impoverished people 
who sleep in the ramshackle shan- 


that would radically improve their 
symptoms. The experts say their 
problems can only be treated 
symptomatically." 

Dr. Dass said that as many as 
5,000 people had damaged corneas, 
which make it painful for them to 
be exposed to sunlight, and that 
their vision had been impaired. 
These people are being given eye- 
drops, but as with the breathing 
and digestion problems, doctors 
say there is no cure. 


film festival was in progress. The 
blast injured 18 persons. 

Among those gathered in front 
of the Rivoli-Beaubourg theater 
were Yves Montand and Simone 
Signoret, the actors; Andre Glucks- 
mann and Marek Halter, writers; 
Ovadia Safer, the Israeli ambassa- 
dor; Michel Rocard, the French 
agriculture minister, and Lionel Jo- 
spin, first secretary of the govern- 
ing Socialist Party. 

The demonstrators walked the 
short distance to a memorial to 
Jews deported from France during 
World War II, behind the Noire- 
Dame cathedral. 

“We must show ourselves to let it 
be known that there is indignation 
and that one cannot be indiffer- 
ent,” Ms. Signoret said. 

The bomb exploded Friday night 
during a showing of the film “Eich- 
mann. Man of the Third Reich.” It 
was the first attack on a Jewish 
target in Paris in more than two 


250,000 Australians 
March for Disarmament 


years. Two persons who received 
bums remained hospitalized Sun- 
day. 

News agencies and the Interna- 
tional I Against Racism and 
Anti-Semitism received anony- 
mous telephone calls Saturday 
claiming responsibility for the 
bombing in the name of “WUNS” 
and “Column 88 Heil Hitler.” 
WUNS. the World Union of Na- 
tional Socialists, was founded in 
1962 in the United States with the 
aim of combating the“Judeo-€om- 
m mrk t international.’' 

The latter grou p was unknown. 

A caller to The Associated Press 
said the bombing was “in reply to 
the odious provocations of the Fac- 
ulty of Assas and the Lyon trial" 
These were references to an anti- 
racist meeting last Thursday at As- 
sas. the University of Paris law 
school and the trial in Lyon of the 
Nazi war criminal Klaus Barbie, 
which is expected to begin later this 
year. 

A source, asking not to be identi- 
fied, said the police believed othfT. 
telephoned claims of responsibility 
on behalf of Islamic J ihad were 
“fantasy." 

Police said the bomb, placed un- 
der a seat in the back row of the 
theater, was relatively weak and 


ifa Firchcrt 

International Herald Tribune 

PARIS — Soviet in 
documents published by a Paris 
newspaper confirm that the War- 
saw Pact weapons industry relies 
heavily on Western technology ob- 
tained by Soviet industrial spies. 

In 1979, stolen Western technol- 
ogy saved the Soviet military air- 
craft industry 48.6 million rubles 
(about $65 mOtion). a 60 percent 
increase over the amount saved the 
previous year, according to a copy 
of a 1980 Soviet report published 
Friday by Le Monde. 

Publication of the Soviet docu- 
ments, which were leaked by 
French intelligence sources, pro- 
vides strong independent confir- 
mation of claims by the Reagan 
administration that Soviet military 
industries depend heavily on West- 
ern technology, diplomats said. 

The report, reproduced in Le 
Monde, said Soviet engineers had 
used a range of Western technol- 
ogy. including “140 samples and 
3,543 technical documents," to 
keep track of Western develop- 
ments and to save time and money 
in the Soviet military program. 

Sources said similar reports 
about intelligence gathered for oth- 
er Soviet industries have also been 
obtained by French intelligence, 
apparently through a contact in the 
Soviet bureaucracy. 

The authenticity of the Soviet 
rep otts has been confirmed by sev- 
eral high French officials. 

The benefit to the Soviet Union 
in tenns of money, which was cited 
in one of the reports in Le Monde, 
gives only a partial indication of 
the real savings to the Soviet 
Union, including time saved by So- 


Soviet engineers may have saved 
considerable time in developing 
their own “supercritical" wing by 
having used test results that were 
developed for civilian airliners in 
the United States. France and Brit- 
ain. 

The same stolen technology was 
also used, according to the report in 
Le Monde, to speed construction of 
the advanced Su-27 fighter, which 


VITORIA. Spain (AFP) — The Anti-Terrorist Liberation Group, or 
GAL, which opposes Basque autonomy, claimed responsibility Sunday 
for three recent attacks in France, including the killing Saturday of a 
Basque nationalist publisher. 

In telephone calk to several news otganizations, a man claiming lo 
represent GAL said the group was responsible for the death of Francisco 
Galdeano Arana, 49, founder of Fan, a Basque nationalist daily. 

He also said GAL was responsible for an attack Friday on a bar in 
Bayonne (hat killed one person and wounded three, and an attack 
Tuesday in G bo ure, near Bayonne, in which two persons were injured. 


! s**v*V r - 

> ^ . -idee '- 1 • 


U.S. Contractors Double Political Gifts 


is to be deployed soon. Both UJ>. 
and French offidf 


offi cials have main- 
tained that Western technological 
information is being systematically 
smuggled to the Soviet Union for 
military purposes. But the docu- 
ments published Friday in Le 
Monde marked the first time that 
the extent of the Soviet operation 
has been confirmed through offi- 
cial Soviet material. 


WASHINGTON (AP) — The largest UJS. defense contractor have 
doubled their political donations since President Ronald Reagan took 
office, mth the top 20 companies putting S3.6 million into 1984 congres- 
sional and presidential campaigns. 

The surge in camp ai g n contributions took place as government con- 
tracts to those companies increased over the last four years by nearly 150 

percent, to $69 billion in 1984. 

It is undear to what extent political contributions from military 
contractors influence congressional votes. Of the 20 House members 
receiving more than $15,000 from those political action committees, 17. 
void last week to approve the president's request for $ 1 J billion to build 
21 more MX missiles. Thirteen of the 14 senators who received more than 
$30,000 backed Mr. Reagan on the MX. 


The Soviet documents, which es- __ . i rv. • i • o • 

sentially are reports on the value of More Officials 1 1 IS TTlIfi fiftfl ID JOViet 

industrial espionage to various So- ^ . „ . , . . ,. . 

MOSCOW (Reuters) — More officials have been dismissed as the 

drive against inefficiency continues under the new Soviet leader. Mikhail 


riel defense sectors, were reported- 
ly leaked to the press by the Direc- 
tion de ia Surveillance du 
Terri toire, or DST, France’s coun- 
terespionage service. 

Two years ago. President Fran- 
cois Mitterrand of France, appar- 


S. Gorbachev, according to newspaper reports. 
In Kazakhstan, the Comm must Party 


secretary, Yuri Trofimov, has 
been transferred to another post, according to the regional party paper 
Kazakhstanskaya Pravda. Another report said that a local party official 


ently acting on similar documents, 
d 47 Soviet diplomats. Fri- 
Monde, which 


expelled 4? Soviet 
day’s story in Le 
listed the first time the names and 
espionage duties of all of them, said 


in the Ukraine had been dismissed for abusing his authority. 

In a blow at the traditional system allowing dismissed officials to take 

Spanish Communists Demote Carrillo 


, - ... MADRID (Renters) — The 

U ■ u ” p0r ; Spanish Communist Pam on Sun- 
lam posts in the Soviet Union and day dismissed Santiago Carrillo, its 

former leader, from his port as par- 


abroad. 

It was not immediately clear why 
the French secret services chose to 
leak the reports. The most likely 
explanation, several French offi- 
cials said, was that Western intelli- 
gence has detected renewed indus- 
trial 


activities in France 

viet engineers. " the Soviet Union and Ibjjr Eastern 

- - - - - - - u European countries. Publication of 

the documents, they said, could be 


For example, in building the Su 
25 fighter, a ground-attack aircraft 
with the NATO code-name Frog- 
foot, Soviet engineers solved an im- 
portant development problem by 
using Western data to construct a 
high-performance wing, according 
to the Soviet report. 

The Western data reportedly 
were obtained in 1979, and the Su- 
25 was in combat in Afghanistan in 
1982. 

French industrial sources said 


intended as a warning to the Soviet 
Union to stop industrial spying in 
France. 

The Soviet Embassy in Paris has 
denied the authenticity of the docu- 


ments and urged the French gov- 
btica- 


emraent to prevent further pub! 
lion of the reports. TFl, a 
government-owned television sta- 
tion. said it intended to use more 
information from the documents 
this week. 


liamentary spokesman, a party 
spokesman said. 

He said the party's central com- 
mittee voted to withdraw Mr. Car- 
rillo's credentials after the former 
secretary-general publicly pro- 
posed an aneraaiive to the leader- 
ship’s strategy for next year's gen- 
eral elections. 

The party was ending a three- 
day emergency conference Sunday 
called to end a dispute between Mr. 
Carrillo and Gerardo Iglesias, who 
succeeded Mr. Carrillo as party 
leader in 1982. Mr. Carrillo, who 
boycotted the conference along 
with a quarter of the party’s region- 
al delegations, opposes majority 
leadership plans to seek an elector- 
al alliance with groups such as ecol- 
ogists and pacifists. 



Santiago Carrillo 


Danish Parliament Orders 
End to Strike by 300,000 


Egypt Dismisses Economics Minister 


apparently was not meant to kill. 
On Aug. 


tytowns that surround the huge 

" old 


SYDN 


Agate* Fratue-Presse 
NtY — Approximately 


Union Carbide factory in the 
section of this city. 

Those problems and the dis- 
agreements raise serious doubts 
about whether more than a fraction 
of the families who suffered in the 
accident will receive compensation 
even if Union Carbide decides, or is 


The government, in def aiding its 250,000 people took part Sunday in 
relief efforts, says that it has al- Australia’s annu al P alm Sunday 

demonstrations in favor of nuclear 


e payments 
pees each (5800) to 700 families 
who lost a relative. But even these 
payments have slowed because of 
fraud and disputes between wid- 
ows and children over who should 
get the money. 


disarmament. 

The biggest march was in Syd- 
ney. where more than 100,000 peo- 
ple paraded through the city. An 
estimated 50.000 people joined a 
demonstration in Melbourne. 


Aug. 9, 1982. a gun and gre- 
nade attack ItiDed six persons and 
injured 22 at a restaurant in the 
Jewish quarter a few blocks from 
the Rivoli-Beaubourg theater. On 
Sept. 17 of that year, an Israeli 
Embassy car was blown op in front 
of a Pans school, seriously wound- 


ing six persons. 

The International 


Festival of 
Jewish Films, being held for the 
fourth year, was continuing, mean- 
while, in a movie house in southern 
Paris. 


Reuters 

COPENHAGEN — The Danish 
parliament, in an extraordinary 
session, passed laws ordering 
300,000 workers in private business 
and industry back to work at mid- 
night Sunday to end a weddong 
labor dispute. 

The 179-seat Folketmg voted, 
85-80, Saturday to give the govern- 
ment power to’ enforce a return to 
work and stop some public employ- 
ees from joining, on Monday, the 
strike Tor higher wages that began 
March 24. 

After a 10-hour session, the mi- 
nority center-right coalition of 
Prime Minister Pool Schluter won 
the right to intervene, aided by the 
opposition Radical Liberal Party. 

The formula provides two-year 
wage settlements to private and 


public employees, increasing wages 
by 2 percent this year and 1.5 per- 
cent next year. 

ll cuts weekly working hours 
from 40 to 39 from December 1986 
in the private sector and from Janu- 
ary 1987 in the public sector. 

The unions were demanding 
higher pay and a 35-hour week 

The ret urn- to- work package also 
increases corporation tax from 40 
to 50 percent, curb profits and 
prices, reduce employers' social se- 
curity contributions and force 
those on higher incomes to save a 
percentage of their pay. 

Some unionists called for a gen- 
eral strike. But Hardy Hansen, 
leader of the powerful union of 
semiskilled workers. SID, said that 
a refusal to obey the law could cost 
workers enormous fines. 


CAIRO (AFP) — Egypt's minis ter of economy and foreign trade, 
Mustafa el-Said, was dismissed Sunday after an ethics court rebuked him 
for what it called “suspicious” judgment in a currency scandal. 

The ethics court on Saturday ordered sequestered the assets of 14 
private bankers and exchange agents accused of illegal currency transac- 
tions. According to an official inquiry, the transfers of from S3 billion to 


$4 billion a year were from Egyptians residing in other Arab countries. 
aicFs derisi 


The court said that Mr. Said s decision in September 1983 to dose the 
agents' foreign exchange accounts was suspicious and had been taken 
without “sufficient study” of its impact on tbs Egyptian economy. The 
impact was said to have been “caws trophic." 

Mr. Said was replaced by Sultan Abu Ali, the vice president of Egypt's 
investment supervisory body. 


Mozambican Rebels Claim Successes 


LISBON (Reuters) —Rightist rebels in Mozambique said Sunday that 
they occupied government positions throughout the country in recent 
raids, killing more than 400 government troops and destroying trains and 
road bridges. 

In a statement distributed in Lisbon, the Mozambican National 
Resistance also said that 453 civilians were killed and about L000 were 
wounded when government helicopters and planes bombarded towns 
and villages, but did not say when. It called the air raids a last resort by 
the Marxist-led government in its fight against the rebels. 


For the Record 


Panel Secretly Approves 
U.S. Military Payroll Cut 


(Continued from Page I) 

102.000 below the level Mr. Reagan 
say's is vital to his rearmament pro- 
gram. 

Manpower cuts result in imme- 
diate savings in contrast to cancel- 
lations of weapons contracts where 
the savings can take years. The De- 
fense Department figures that each 
person on its payroll costs an aver- 
age of 530.000 a year. Lopping 

175.000 people from its payrou 
over the two years would save $5-25 
billion. 

Pentagon officials said that the 
army already has frozen its total 
strengthat 78 1,000 men to help free 
money to pay for its largest weap- 
ons-buying program since World 
War I! and that it could not cut 
personnel without hurting readi- 
ness. 

■ House Panel to Audit Firms 

Wayne Biddle of The New York 
Times reported from Washington: 

The House Armed Services 
Committee said Friday that it 
would audit seven arms producers 
as part of an investigation of Penta- 
gon contracting. 

The seven companies, which ac- 
cording to a committee statement 
were chosen only because they rep- 
resent an industry cross section, are 
Genera] Dynamics Carp.; Sperry’ 


Corp.; Newport News Shipbuild- 
y Dock Co., a subsidiary 


ing & Dry 
of Tenneco Inc; 


Turkish Leftists Sentenced 


Bell Helicopter 
Textron Inc., a subsidiary of Tex- 
tron Inc.; McDonnell Douglas 
Corp.; Rockwell luternatioual 
Cotp.; and Boeing Co. 

In another matter involving gov- 
ernment scrutiny of the weapons 
industry, an air force spokesman 
confirmed Friday that it intended 
to notify General Electric Co. that 
its suspension Thursday from bid- 
ding on new Pentagon contracts 
will extend throughout the execu- 
tive branch of the government, in- 
cluding the General Services Ad- 
ministration. which manages 
government procurement activi- 
ties. 

For the auditing project, which is 
expected to take about 45 days. 14 
auditors from the Pentagon's De- 
fense Contract Audit Agency and 
the General Accounting Office, the 
investigative arm of Congress, have 
been assigned to (he committee. 
Their focus will be overhead costs 
billed to the government, a subject 
of intense interest on Capitol Hill 
since evidence arose last year of 
improper billings for entertain- 
ment and personal travel by Gener- 
al Dynamics executives. 

[Defense Secretary Caspar W. 
Weinberger said Saturday that con- 
tract abuses by weapons manufac- 
turers appear'to be limited to “a 
few bad apples,” and he defended 
the industry as a national asset. The 



i 'Model Town’ 
Has Problems 


IMPORTED NEW CAR SALES IN U.S. 

MAKER 

19S4 

1983 

1982 

1981 

1980 

Toyota Motor Corp 

557.979 555.766 530.246 576.491 

582.195 

Nissan Motor Corp Ltd. 

465.296 

521,902 

470,264 

464,806 

516.890 

Honda Motor Co Ud. 

374.819 

350.670 365.865 

370.705 

375.388 

Mula Motor Corp 

169,666 

173,388 

163,638 

166,087 

161,623 

Fup Heavy Industries Ud. 

157.383 

156,840 

150,335 

152,062 

142.968 

(Subaru) 

Chrysler Corp ('Mitsubishi 

91.718 

103,569 

102,227 

110.940 

129.350 

Mitsubishi Motors Corp 

39.104 

32,755 

3.950 

0 

0 

tsmu Motors Ltd. 

17.233 

20.731 

15.462 

17.805 

0 

General Motors Corp 

13.004 

0 

0 

O 

0 J 

(imports Irom Surufci 
Motor Co Ud. and Isuzu) 





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souaers vr««Tt mnonraf tannli Uoto » VnhV Mnluum Awxuton ol Wu 


Wntunewn fat 


Nakasone Meets U.S. Envoy on Trade 


'tww Prance-Press* 

ANKARA — A martial law . 

court sentenced 168 erf 228 accused Washington Post reported, 
members of the Turkish Comma- [Mr. Weinberger warned, howev- 

nist Party on Friday to prison a * dial the Defense Depar tmen t 


terms ranging from three months to 
17 years, judiciary sources said. 
The court acquitted 48 defendants 
and ruled that 12 should be tried 
for other offenses. 


UNIVERSITY 

DEGREE 

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MCMtiOSS MASTERS OftpOCTOfUIE 
Send detailed resume 

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PACIFIC WESTERN UNIVERSITY 

J6ZB Vmre M Pi*2$. Enrol CM9I436 USA 


w 6 uld take “strong actions” to stop 
“particularly dishonest or ineffi- 
cient or frankly stupid" practices 
by contractors, including billings to 
the government for frivolous over- 
head costs. He said he would move 
immediately to prosecute any com- 
pany that knowingly submits such 
claims. 

[The secretary spoke in an inter- 
view aboard the airplane bringing 
him back from a meeting of the 
North Atlantic Treaty Organiza- 
tion in Luxembourg and a visit to 
France.] 


(Continued from Page 1) 

dgn Correspondents Club of Ja- 
pan. a former ambassador to 
Washington. Yoshio Okawara. 
made a similar observation. 

“If the Japanese people feel the 
UJ3. is asking too much and asking 
too fasL there could be serious con- 
sequences.” he said. 

Tokyo seems to have been un- 
prepared for the vehemence of pro- 
tests that greeted hs decision to 
increase auto export quotas to 13 
million units per year. 

“Perhaps the figure was con- 
veyed with no precise explana- 
tion,” said Masunti Esaki chair- 
man of a governing party’s trade 
committee. Officials contend it was 
meant 35 a concession because, 
without controls, exports would 
have reached 2.7 million, they say. 

Many Japanese reporters also 
saw it that way. At a press confer- 
ence announcing the decision, 
questions centered on what criti- 
cism Japan might face for under- 


mining free trade by continuing the 
restraints. 

The Japanese say major causes 
of the mounting deficits ore the 
stron^dohar. law product quality 


siveness in UB, companies. The 
quality and marketing problems 


are American, not Japanese prob- 
and little action 


and the lack of marketing aggres- 


Genoese Identified 
As Guerrilla Chief 


Agence France- Pens e 
ROME — A former member of 
the Red Brigades identified Sunday 
a man he said was the head of the 
guerrilla group. 

Gianluigi Cristiam. who recently- 
completed s two-year prison sen- 
tence, told a newspaper that the 
Red Brigades’s leader was Gre- 
gorio Scarfo, a Genoa man who has 
been sought by police since 1977. r 


lems, they argue, 
has been taken on them. 

VS. officials agree that market 
access is not the major problem. 
Washington has estimated that if 
all Japanese trade barriers come 
down, only about a third of the 
deficit would be wiped away. The 
Japanese say that the congressional 
furor suggests no understanding of 
this. 

After World War H. Japan used 
protectionism to aid in economic 
recovery. As its industry matured, 
many of the overt controls were 
removed, The Japanese concede 
that many remain, but they say 
many will be eliminated. 

Removal of controls does not 
automatic higher sales for 
tties. Suco 


(Continued from Page 1) 

water. The streets are paved and tiL 
The primary and high school_ build- 
ings are the finest in the region. 

“I was quite happy with (he ar- 
rangement.” Mr. Masopha said in 
an interview in one of his hideouts. 
“We like the township. It's a really 
nice place.” 

Being an energetic and civic- 
minded young man, Mr. Masopha 
formed a residents association to 
help build community spirit and 
campaign for better facilities. The 
administration board recognized 
his association. 

Then, six weeks ago. Mr. Viljocn 
announced that Ekaiagala was to be 
incorporated in the nearby KwaN- 
dcbeJe tribal area, which is sched- 
uled for independence soon. 

Tbe matter was never discussed 
with tbe community, Mr. Masopha 
said. 

Incorporation means that when 
KwaNdebele becomes indepen- 
dent, which could be within the 
next two years, the 5,000 people of 
Eka n gala will become KwaNde- 
bele citizens. They will become for- 
eigners in South Africa, with fewer 
rights and less job security. 

All those interviewed during a 
visit to tbe township this week said 


The leader of the Cantona crime organization. Raff ode Cutolo. was 
sentenced Saturday to 13 years in prison by a court in Caserta, Italy, at 
the end of a six-month trial. The court sentenced 144 other organized 
crime figures to lesser terms for various illegal activities. (AP) 

Itafian police said they had arrested seven persons in connection with a 
raid on an American-owned security firm. Brinks Securmark, in March 
1984 in which cash and checks worth S22 million were stolen. (Reuters) 
West Germany's governing parties, the Christian Democratic Union 
and the Free Democratic Party, said they would accept further political 
donations from Friedrich Karl Flick, whose industrial concern is al tbe 
center of a long-running bribery scandal. (Reuters) 

Cathy Long. 61. easily defeated four opponents in an election Saturday 
in Louisiana to succeed her late husband, Giilis W. Long, in the UB. 
House of Representatives. (UPI) 


Accord With Greece Allows 
EC to Expand Membership 


(Continued from Plage 1) 
tegic Defense Initiative, the space- 
based missile defease proposal of 
President Ronald Reagan. After 
the meeting, however, several lead- 
ers indicated there was agreement 
that the community should not at- 
tempt to participate. 

The research proposal “is not a 
matter for the community as 
but we have discussed it among 
ourselves,” said Prime Minister 
Margaret Thatcher of Britain. 
“Three or four of us mav consider 
whether we should collaborate in 


Mr. Delors said that as a result of 
tbe agreements on enlargement and 
the aid for Greece, “all the family 
quarrels have been sorted out.” 

“We can start thinking about tbe 
future," he said. 

Mr. Delon and Mr. Craxi indi- 
cated that EC leaders would use the 
June community summit meeting 
in Milan to talk about reforms of 
EC institutions, including a pro- 
posal to move from the require- 
ment for unanimity is decision- 
- making to simple majority voting. 


our research program.' _ . 

Prime Minister Bettino Craxi of RllSSia SaV 5 ILO 
Italy, who was chairman of the J 

they were appalled at the prospect, summit meeting under the commu- Favorfi Gani taHfim B 
They also expressed anger that they mty s routing leadership system. * " 

were not told about it before they said community involvement Reuters 


mean 
foreign companies. 


success in Ja- 


Hc said Mr. Scarfo was behind pan requires long marketing com- 
the killing Wednesday in Rome of mitments, gcod service and top 
Ezio Tarantefli. a prominent ecori- product quality, which, the Japs- 
omist who advocated curbs cm nese say, many U.S. companies are 
automatic wage increases. unable to deliver. 


went to Ekangala. 

“We arc bang kidnapped.” said 
Mr. Masopha. 

■ Violence Follows Bonds 

South African troops, following 
a night of demonstrations, manned 
roadblocks Sunday in (he Port Eliz- 
abeth area as Mucks buried victims 
of recent rioting, Reuters reported. 

Witnesses said soldiers and po- 
lice sealed off black townships in 
the area alter gasoline bombs and 
stones were thrown at police pa- 
trols. 

The troops moved in as about six 
Macks, who were killed in recent 
unrest in the area, were buried. Fu- 
nerals have provided a flashpoint 
for riots because they are one of the 
few legal reasons. for a gathering. 


in the military program would be 
complicated by the fact that one 
EC member, Ireland, is not a mem- 
ber of the North Atlantic Treaty 
Organization. The United States 
invited its allies last week to join 
the research program. 

Jacques Delors. the president of 
the European Commission, said 
Thursday he would propose to the 
EC leaders that they double spend- 
ing on research to provide for the 
possibility of community participa- 
tion in the military program. 

Mr. Craxi said that during their 
discussions cm political questions, 
the EC leaders supported a bal- 
anced U,S. -Soviet arms agreement _ 
to “produce a reduction in nuclear dal devi 
weapons," and “avoid further arms of the 


GENEVA — Tbe Soviet Union 
and five allies Sunday accused the 
Internationa] Labor Organization 
of serving the interests of capital- 
ism and allowing itself to be used 
for ideological subversion of Com- 
munist stales. 

A statement delivered to Francis 
Blanchard, the oraapizatitsa’s di- 
rector-general, said the ILO dis- 
criminated against Communists 
when filling elected posts while 
representatives from a limited 
group of Western countries held 


key positions. 
“The 1 


ILO has increasingly be- 
come a tool for propagating and 
impla&tnHt Western models of so- 


raccv 


vdopmenf to the det rimen t 
workers’ 


statement said. 


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AMERICAN TOPICS 


Meese Test on Judges; 
'Sanctity of life’ 

Edwin Meese 3d, the new 
US. attorney general, says his 
Justice Department will seek 
appointees who believe in “the 
sanctity of human life" to fill 
114 federal judgeships. The 
Washington Post reports. 

*T think they should have a 
feeling for the sanctity of hu- 
man we,' 1 Mr, Meese said of the 
judges, “but I don’t think that 
we’ll use any litmus test that 
relates to abortion or anything 
like that.” He said he was talk- 
ing about “a general concept 
and approach.” 

Advocates of the right to 
dunce in abortion argue that 
such phrases as “sanctity of hu- 
man life” are u sed to 
“ami-abortion.” 


More Straight Talk 
From Harry Truman 

David G. McCullough, a 
writer and historian, recently 
recalled, as recounted in The 
New York Times, that Presi- 
dent Harry S. Truman’s secre- 
tary of state* Dean Acheson, in 
going over a Truman speech 
draft, questioned the sentence, 
“Now I want to talk to you 
about these things.” 

Mr. Acheson said it would 
sound more Informal to say 



Harry S. Truman 


“talk with yon” because “ro yon 
sounds as if you're laying down 

the law” 

Truman reflected for a mo- 
ment, then replied, “Somebody 
has to lay down the law around 
here some of the tim<L Some 
people confuse liberty and li- 
cense; they thinlc this country 
owes them nothing but privi- 
leges, and that nobody ought to 
law down the law to them about 
thejur moral responsibilities. 
Let’s just say to.” 


Notes About People 

Howard H. Baker Jr„ a Ten- 
nessee Republican and former 
Senate majority leader who is 
considering running for presi- 
dent in 1988, says presidential 
election campaigns are too long 
and expensive. He told the 


Commission on National Elec- 
tions, a bipartisan study panel, 
that contributions by political 
action committees and labor 
onions should be banned He 
also said shorter campaigns 
would be encouraged if the fed- 
eral government delayed grant- 
ing of campaign funds until af- 
ter Jan. I of an election year. 

Arthur F. Burns, 80, who is 
retiring as ambassador to West 
Germany this spring, says he is 
not leaving his post because he 
is tired of Bonn or because be 
feeds burdened by his duties or 
his age. Mr. Bums, a longtime 
economic adviser to presidents, 
has told friends he wants to 
write two books an monetary 
policy and feds that now is the 
time to get started. 

Does John A Zaccaro rue the 
day his wife, GerakSne A. Fer- 
raro, agreed to run for vice pres- 


ident, thus leadin; 

edings 
affairs? N< 


g to court pro- 
ceedings over his financial 


for at all, says Ms. Fer- 
raro, who recently told a Na- 
tional Women’s Political Cau- 
cus meeting in Washington, 
“John and I have been talking 
about tbe campaign over the 
past couple of weeks. And John 
said to me, ’Yes, Gerry, it was 
worth iL And, yeah, if we had it 
to do over again, we would doit 
over again.' ’ 

Dee Snider, lead singer for 
Twisted Sister, a rock band, 
said during a stop in Phoenix, 
Arizona, that bard rock is the 
nurse for youth these days be- 
cause “no self -respecting kid 
wants to listen to a band that 
his father approves of." 


Short Takes 

California wants to move the 
border whh Oregon north, by a 
quarter of a mile or so, (about a 
half a kilometer), correcting an 
error made when the line was 
drawn in 1868 by Daniel Ma- 
jors, a surveyor who had to con- 
tend with earthquakes, defec- 
tive instruments and. according 
to bottles found buried at his 
camping sites, a fondness for 
champagne. Projecting the er- 
ror for 200 miles (320 kilome- 
ters) offshore, to the limit erf 
U.S. sovereignty, involves 
12,000 acres (4,830 hectares) of 
ocean bed that may be rich in 
ofl and minerals. 

Volunteers on Cape Cod, 
Massachusetts, are helping to 
plant nearly 1,000 acres of sand 
dunes, some of them 80 feet (24 
meters) lugh, with beach grass 
to Stabilize mig rating dunes 
that have threatened highways 
and historic sites. A bare done, 
with sand blowing up tbe wind- 
ward ride, idling over the top 
and collecting on the leeward 
ride, can move as much as 20 
feet a year. 

— Compiled by 

ARTHUR HIGBEE 


New Honduran Judges 
Charged With Treason 


■V 


Compiled by Our Staff From Ditpuiches 

1 TEGUCIGALPA Honduras — 
Government prosecutors have filed 
treason charges against the five 
new Supreme Court judges in- 
stalled by the legislature in its polit- 
ical dispute with President Roberto 
Suazo Cdrdova. 

The existing Supreme Court, 
which is backed by Mr. Suazo, -is- 
sued a communique Saturday 
charging the. Congress with “fla- 
grantly violating” the Constitution 
by naming the new justices. 

It warned that the new chief jus- 
tice, Ram6n Yalladares S6to, and 
the other four named as jus- 
tices by the National Assembly 
could face prison sentences ofl 3 to 
20 years for treason. 

Mr. VaHadares has been arrest- 
ed, and the other four men are in 

hiding 

The crisis has grown out of an 
internal power struggle in the lead- 
ing Honduran political party. Fac- 
tions of the party are seeking to 
control tbe nomination of presi- 


Luther Terry, 73, Dies; 
Surgeon General in ’60s 

Dr. Terry stepped down as sur- 
geon general to take the job of vice 
' affairs at the 


• Washington Post Sendee 

WASHINGTON — Dr. Luther 
L Terry, 73, who as surgeon gener- 
al of the United States from 1961 to 
1965 was responsible for the gov- 
eminent report linking cigarette 
% smoking to heart disease and can- 
cer. died Friday of congestive heart 
failure at a hospital in Philadel- 
phia. 

On Jan. 1L 1964, Dr. Teny and a 
10-member jury of experts present- 
ed the finding s of its study on the 
hazards of smoking. The finding s 
were compiled in a 387-page "Re- 
port rtf tneftageon General's Ad- 
visory CnmmittH* on Smoking and 
Health” that was regarded as 
sweeping and unyielding. 

ft In 1965, at Dr. Terry’s raging, 

* Coixgress-requirdd tobacco compa- 
nies to stamp each pack of aga- 
nsttes with a warning that reads; 
“The surgeon’ general has deter- 
mined that cigarette smoking is 
dangerous to ^>or health.” In 1971, 
Dr. Terryrhejped obtain a ban on’ 
cigarette^ads on radio and televi- 
sion. • . 


president for medical 
University of Pennsylvania, a post 
he held until 1971. 

■ Other Deaths: 

Vidor Homan, 69, an American 
who went to the Soviet Union in 
1931 as a teen-ager and returned to 
tbe United States in 1976 after 
spending 18 years in labor camps 
and in exile in Siberia, March 24 of 
a heart attack, in Southfield, Michi- 
gan. Mr. Herman’s father, a Com- 
munist labor organizer, took his 
family to the Soviet Union trader a 
contract with the Ford Motor 
Company to build an automobile 
factory. 

Koim Kbalaf, 50, a former Pales- 
tinian mayor of RamaHah in the 
West Bank, who was seriously 
wounded by a terrorist bomb in 
1980, Saturday of a heart attack. 

Christum tfamara-Taytor, 68, a 
founder of Sierra Leone’s ruling All 
People’s Congress Party, Thursday 
in Freetown, Sierra Leone, after a 
long illness. 


Casta Rica, 
U.S. Company 
Reach Accord 
On Land Sale 


By Joanne Omang 

Washington Pan Service 

WASHINGTON— Tbe govern- 
ment of Costa Rica has bought the 
banana plantations on its west 
coast from United Brands Co. and 
will convert them to growing cacao 
beans, which are used to make 
chocolate. 

An agreement signed last week 
transfers 4,200 acres (1,700 hect- 
ares) and 500 buildings to Costa 
Rica for about $1.24 mUHon. Tbe 
pact was the result of talks that 
began in arid- 1983 with the assis- 
tance of the U.S. Embassy. 

United Brands, formerly United 
Fruit, is also turning over free a 
wharf and a railroad with eight 
locomotives and about 200 freight 
cars, and will sell its 3,000 employ- 
ees their homesteads and pay them 
about $5 million in severance, ac- 
cording to George M. Skefly, Unit- 
ed Brands senior vice presi doit and 
general counsel 

“It’s all a gesture on our part,” 
Skelly said, “we jost could not con- 
tinue putting money in the banana 
business there. It just wasn’t eco- 
nomical” 

The Costa Rican government, 
which feared onempk^ment riots 
and an economic crisis from a sud- 
den departure by United Brands, 
expressed satisfaction with the 
agreement. 

“It's a solution that is satisfac- 
tory for us and for them and espe- 
cially for the landless workers,” 
Ambassador Fernando Zumbado 
said. “Cacao will work out very 
well and permit even a little indus- 
trialization. The support of the 
U.S. government was a determin- 
ing factor." 

Also pleased, and relieved, was 
the State Department, which was 
caught during the talks between its 
traditional defense of UR. corpora- 
tions abroad and the Reagan ad- 
ministration's desire to bolster 
Central America's premier democ- 




and 


United Brands is 
Costa Rica signed it, we’re 
bdieve me," a State Department 
official said. 

The pact takes United Brands 
out of the banana-growing business 
it started in Costa Rica at the turn 
of the century. Its b anana and palm 
oh operations on Costa Rica’s east 
coast will not be affected, but these 
now involve only buying and drip- 


west coast plantations in- 
cluded schools, hospitals, stores 
and bousing for 3,000 employees. 
About 47,000 other Costa Ricans 
earned a living directly or indirect- 
ly from them, according to Costa 
Rican estimates. The company also 
paid an es timated $40 million a 
year to the government in conces- 
sionary payments and taxes on ex- 
ports and workers’ incomes. 


den tial candidates for the Novem- 
ber elections. 

Honduran law establishes a Su- 
preme Sectoral Tribunal which 
has broad authority to intervene in 
party disputes. Because the Su- 
preme Court names one of the five 
members, control of the court is 
considered a political prize. 

The congressional leader, Efrain 
Bu Girin, 55, wants to be the Lib- 
era] Party’s presidential candidate 
in the Nov. 27 elections, while Mr. 
Suazo, who cannot succeed him- 
self, backs Oscar Mejia Arellano, 
70. The party will choose its candi- 
date at its national convention 
April 11 to 14. 

Diplomats and Honduran politi- 
cal analysts said they expected a 
compromise on the issue to be 
reached after Easter, April 7. The 
weekpreceding Easter is the princi- 
pal holiday of the year in Central 
America, and wars and political 
dashes are often suspended for the 
week. (AP, NYT) 


Salvadorans Vote 
For Legislature 

Reuters 

SAN SALVADOR — Citizens 
of El Salvador voted Sunday in 
elections for the national Constitu- 
ent Assembly and municipal of- 
fices in 262 odes. 

Rightist parties opposed to Pres- 
ident Josfc Napoleon Duarte, a 
Christian Democrat, bold 36 of the 
60 seats in tbe unicameral legisla- 
ture. It appeared, unlikely that the 
president’s party could overcome 
this majority in Sunday’s vote. 

The elections represent the final 
step in the UJL-backed effort to 
create the country’s basic political 
machinery. A previous national 
vote in 1 982 and a presidential elec- 
tion in 1984 led to the writing of a 
new constitution, the appointment 
of a supreme court, and the election 
of Mr. Duarte last June. 

2 Kitted as Waves 
Hurl Hovercraft at 
Pier in England 

Reuters 

DOVER, England — Huge 
waves hurled a Hovercraft against 
a pier in Dover harbor; killing two 
persons, the police said. Thirty-six 
persons were injured and at least 
one was missing. 

The crash Saturday was the first 
serious accident involving a Hover- 
craft, a craft that rides over water 
on an air cushion, since the vessel 
was introduced on the route be- 
tween Britain and continental Eu- 
rope in the 1960s. 

Police said the Princess Marga- 
ret, carrying 370 passengers and 18 
crew members, was entering the 
port from a trip from Calais, 
France, when the accident hap- 
pened. The collision tore a hole m 
the Hovercraft's side and buried 15 
persons into the sea, the statement 
said. 

It said that a South American- 
born woman was taken dead from 
the sea and that a male passenger 
died later in a hospital. 

A 13-year-old British girl was 
missing and a French boy from a 
party of students was not account- 
ed for. But officials said they were 
not certain that he had been aboard 
the craft. 


Avalanches in Alps K21 3 

The Associated Press 

BERCHTESGADEN, West 
Germany — Avalanches on two 
mountains in the Bavarian Alps 
killed three ski- patrol members m 
two incidents this weekend, police 
said Sundav. ' 



bum 


GEmN 1 DOWN — Prince Charles breakdancing at a 
discotheque at Mlddleston-on-Sea, in southern En- 
gland. He was in the region to meet unemployed youth. 


A White House Center of Influence 

Envoy Knows National Security Council Eclipses Cabinet 


By Bernard Gwertzman 

New York Times Service 

WASHINGTON — According 
to Jeane J. Kirkpatrick, who 
stepped down last week as chief 
representative to the United Na- 
tions, “they are the highest, fran- 
kest, most authoritative discussions 
of United States foreign policy " 
She was talking about toe meetings 
of President Ronald Reagan's Na- 
tional Security Council 

Mrs. Kirkpatrick regularly at- 
tended these meetings, but her suc- 
cessor, Vernon A Walters, will not, 
at least not on a regular basis. Sec- 
retary of State George P. Shultz, 
who wanted to limit the power of 
the UN representative, won the 
White House’s agreement not to 
renew the NSC pass for Mr. Wal- 
ters. 

So upset was Mr. Wallers at los- 
ing the privilege of attending all 
NSC sessions that be reportedly 
came close last week to resigning 
even before the Senate had had a 
chance 10 approve his nomination. 

It was the kind of story that 
could be understood only by those 
familiar with how power is per- 
ceived in Washington. Mr. Walters 
had already been assured that he 
would have' full cabinet status, car- 
rying on the anachronistic tr a d i ti o n 
started by President Eisenhower, 
who decided to put his campai 


hoarded the most important diplo- 
matic and military secrets. 

Since NSC meetings, by their na- 
ture. are highly restricted, with the 
agenda of tbe sessions itself a clas- 
sified secret, just bring allowed to 
attend earns the participant addi- 

NEWS ANALYSIS 

tional standing. But beyond that, 
the council decides things. 

Under the law that created tbe 
NSC in 1947, the only statutory 
members are the president, the vice 
president, the secretary of state and 
the defense secretary. The director 
of central intelligence and the 
chairman of the Joint Chiefs of 
Staff are statutory advisers. AD 
others; incl uding tbe national secu- 
rity adviser, have to be invited. 

For some, like Mrs. Kirkpatrick; 
Edwin Meese 3d, the former White 
House counselor, now attorney 
general; James A. Baker 3d, the 
former chief of staff and now Trea- 


sury secretary, and Mr. Dcavcr. the 
deputy chief of staff, the invitation 
was a standing one. 

Others attend as needed, de- 
pending on the topic. Presumably, 
Mr. Walters would be called in if 
some crucial UN-related matter 
were to be discussed or if problems 
in Latin America or North Africa, 
on winch he has expertise, were on 
the table. 

Mrs. Kirkpatrick said it was 
“very useful to me to be a member 
of the NSC" because being able “to 
hear the discussions gave me a kind 
of seme of confidence about the 
goals of the president, the secretary 
of state and secretary of defense: 

It also allowed her the chance to 
express her own views. Daring the 
war between Argentina and Bn lain 
over the Falkland Islands in 1982, 
Mrs. Kirkpatrick, who was sympa- 
thetic to Argentina, regularly en-' 
gaged in derate with the secretary 
of state at the time. Alexander M. 
Haig Jr. 


U.S. Wants to Cut Back 
On Statistics Services 


By Martin Tolchin 

New York Tunes Service 

WASHINGTON— The 
administration has prop: 
sharp reduction in. government ef- 
forts to gather and distribute statis- 
tics about life in the United States. 

Under the proposal contained in 
a directive drafted by the Office of 
Management and Budget, the bud- 
get office would haw authority 
over all information-gathering ef- 
forts by federal agencies. The agen- 
cies would have to show that the 
efforts were essential to their mis- 
sion, that they were not likely to be 
performed by the private sector 
and that their benefits outweighed 
their costs. 

Hie directive would apply to la- 
bor and health statistics, housing 
data, economic and trade figures, 
environmental reports and other 
kinds of information, 

of the idea say it 
save billions of dollars spent | 
each year for unnecessary informa- 
tion. But critics contend that the 
value of government information 
cannot be measured by its cost 
alone. Information gathered by the 
government and made available to 
the public creates an informed elec- 
torate, they say. And, they add, 
reducing its How would reduce the 
accountability of government. 

The proposal has been distribut- 
ed to government agencies for their 
comments. Although the directive 
could be altered or even rescinded 


obtained “for purely internal gov- 
ernmental purposes,” the draft 
said. 

“While such information may be 
subject to access upon request un- 
der provisions of agency statutes, 
the Freedom of Information Act or 


adviser, Henry Cabot Lodge, m the 
cabinet as well as at the United 
Nations. 

Eisenhower had no grand strate- 
gy in suddenly elevating his UN 
ambassador to cabinet status; he 
simply wanted to have Mr. Lodge 
around the White House. To out- 
siders, cabinet status might seem 
the ultimate one could hope to 
achieve. 

That might have been true in 
19th-century Washington, but the 
reality of lire in Washington these 
days is that cabinet meetings, in the 
words of Zbigniew Boezinskl the 
national security adviser to Presi- 
dent Jimmy Car ter, are “almost 
useless.” 

Mr. Brzezinslti said they were so 
boring that he used to catch up 
surreptitiously on his Kght reading 
by placing magazines on his knees 


the Privacy Act, the agency must during the meetings They are no 
demonstrate in each case the need more lively in this administration, 
actively to disseminate such infra- where Mr. Reagan has been known 


motion,” the directive said. 

Tbe directive also said, “Agen- 
cies will now be required to recover 
costs for information products 
through user charges, where appro- 
priate.” 

The directive said that an agency 
must not merely assure itself that 
the information is not otherwise 
available; bnt must ask “whether it 
is reasonable to expect that another 
organization, public or private, 
would offer the product or service 
if the agency did not offer it" 


to daze off from time to time, ac- 
cording to his aide, Michael KL 
Denver. 

Thus, being a cabinet member, 
while symbolically important, may 
have less power than meets the eye. 
Power in Washington is counted in 
terms of information. Tbe more se- 
cret the info rmati on is, the more a 
person with access to it counts. 

Henry A Kissinger, national se- 
curity adviser to President Richard- 
Nixon, rose so quickly to promi- 
nence because Mr. Nixon and he 



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because of the comments, officials 
at the budget office said they ex- 
pected it to take effect in the fall 

The administration has already 
reduced the amount of information 
available to the public by increas- 
ing the authority of government 
officials to classify information, 
cutting bade on the collection of 
statistics and eliminating hundreds 
of government publication* 

But the American library Asso- 
ciation considers the directive the 
most extreme step the administra- 
tion has taken. 

“It’s a real trend of this adminis- 
tration to Umii public access to 
information,’' said Eileen D. 
Cooke, the associate executive di- 
rector and director of the associa- 
tion’s Washington office. “We’re 
telling our members to tell their 
users, business people and consum- 
ers, that they're gang to be cut off 
.at the pass.” 

Miss Cooke questioned the cost- 
benefit criteria the directive would 
establish. 

“What is the dollar benefit of an 
informed citizenry?” she said. 
“What is the dollar benefit of hous- 
ing statistics or health statistics? 
How do voa define ‘essential? 1 " 

“Nowhere in this document is 
there any recognition of govern- 
ment’s responsibility to provide in- 
formation to its dozens, she said. 
“The entire thrust is to reduce the 
accountability of government.” 

Asked to comment on Miss 
Cooke’s assertions, Edwin L. Dale 
Jr., spokesman fra the budget of- 
fice, said: “This is a proposal and 
we are now in a comment period. 
.Comments will be taken into ac- 
count” 

Bob Willard, vice president for 
government relations a t the Infor- 
mation Industry Association, said 
the government had “too of ten pro- 
vided a product that was more 
commercial than was appropriate 
fra the government to offer.” 

The association is trade up of 
400 companies that sell informa- 
tion. Members include Dow Jones 
A Co„ Dun A Bxadstreet, Interna- 
tional Business Machines Crap., 
McGraw-Hill, the New York 
Times Co. and The Washington 
Post Co. 

“Should die government print 
newspapers?” he said. “Since 
there’s a diverary of people within 
a democracy, mere has to be a 
diversity of information suppliers.” 

The draft said the mere fact that 
an agency had accumulated infor- 
mation “is not itself a valid reason 
for creating a program to dissemi- 
nate the rmonraticHi to the public.” 
Much govern mem information was 



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INTERNATIONAL 



tribune 


Published Whh Tbr >fk York Time) and Tbe Vathingum Pan 


It’s Not Japan’s Fault . . . 


The U.S. Senate’s 92-0 vote last week for 
trade retaliation against Japan was an authen- 
tic and heartfelt expression of political frustra- 
tion and anger. Americans keep buying more 
and more Japanese goods. American produc- 
ers, losing sales to the Japanese competitors, 
bitterly complain to their senators that they 
cannot sell with equal freedom in Japan. Re- 
taliation is usually the first response that 
springs to mind. Is that what the United 
States, in its own interest, now ought to try? 

It is quite true that the Japanese do not run 
an open economy, at least not in the North 
American manner. Selling foreign goods in 
Japan is much more difficult than it should be. 
But the enormous widening of the United 
States's trade deficit is not Japan's fault. 

Last year Americans spent S37 billion more 
on Japanese products than Japanese spent on 
American products. That was more than dou- 
ble the trade gap of two years earlier, in 1981 
But Japan's trade policies are no worse than 
they were in 1981 If anything, they are a little 
better. Japan is not buying any less from the 
United States than it did two or three years 
ago: it is one of the few' countries in the world 
that is buying somewhat more. 

The real source of this tremendous trade 
deficit is to be found in the United States. 
America is on a binge of borrowing and spend- 
ing — led. unfortunately, by President Rea- 
gan’s budget Tbe continual borrowings by the 
US. Treasury push up interest rates, sucking 
in investment capital from all over the world. 
As that money is exchanged into dollars, it 
forces up the exchange rate. 

As things stand, the dollar is overvalued by 


about 25 percent against the Japanese yen in 
terms of the goods that it buys. It is as if there 
were a 25-percent rebate on every Japanese 
product sold for dollars and a 25-percent tax 
on every American product sold for yen. Is it 
remarkable that Japanese sales to the United 
States are soaring? Tbe surprise is that U.S. 
sales to Japan have not fallen. 

Every senator understands that the trade 
deficit is being steadily widened by the presi- 
dent’s budget, now about $220 billion a year in 
the red. Some of those senators have been 
working hard for the past three months to try 
to push it toward the point of balance. They 
have not made much progress. No wonder 
there is a lot of frustration at tbe 'Capitol. 

Japan deserves to be reproached forits resis- 
tance to foreign goods. At home, it has never 
Tolly accepted the same rules of open world 
trade of which, abroad, it is one of tbe world's 
greatest beneficiaries. But Japanese trading 
practices do not account for the dramatic and 
dangerous increases in the American trade 
deficit over the past two years. 

It is entirely understandable that senators, 
constantly hearing people's grievances about 
foreign competition, would want to kick a 
foreign government. But that vote last week 
was merely a symbolic gesture. 

The sure sign that, the senators have begun 
to work seriously on a real remedy wQl come 
when they vote to cut government spending 
and to raise the level of taxation. That is what 
it is going to take to poll the United States's 
foreign trade back into balance, and to restore 
fair competition in prices. 

— THE WASHINGTON POST. 


. . . But Japan’s Not Helping 


At the least, the Japanese government mis- 
calculated the message it seemed to deliver 
with its announcement on automobile exports 
to the United States. U was an uncharacteristi- 
cally inept move. Over tbe coming year, Japan 
said. it will limit the number of cars shipped to 
the United States to 23 million — a larger 
quota, but still a quota. That derision arrived 
at a moment when the two governments were 
locked in negotiations over sales of U.S. tele- 
communications equipment to Japan. 

When the Reagan administration dropped 
its insistence on import quotas for Japanese 
cars, it was inviting the Japanese companies to 
compete in the United States without further 
restraint. In return it wanted Japan to give 
U.S. companies equal access to their market, 
beginning in a viable and important field — 
telecommunications — in which the Ameri- 
cans are genuinely ahead of the competition. 

The While House took the Japanese re- 
sponse last week to mean that Japan would 
rather stick with quotas on cars — and, by 
implication, also to slick with the buy-Japa- 
nese rule that prevails in telecommunications. 
In an unusually sharp statement, the White 
House told the Japanese that it was no-deal 
and that the United States would continue to 


insist on American manufacturers’ rights to 
sell communications products in Japan free 
of the traditional discrimination. 

Perhaps the White House is wrong and the 
explanation is simpler, that Japan only feared 
a great surge of Japanese cars into the United 
States, inviting a protectionist reaction in Con- 
gress. The quotas in effect for the past four 
years — legally imposed by Japan, in fact 
demanded by the United States — have heavi- 
ly favored three of the Japanese automobile 
companies. There are five or six others that 
want larger shares of the market, and perhaps 
the Japanese government frit that it could not 
control the scramble without formal quotas. 

But the quotas are a fundamentally bad 
idea. Over the past four years they have dearly 
pushed up the prices of both domestic ana 
imported cars in the United States. Similarly. 
Japan would serve its people's interests by 
opening up its own markets. Rather than hold- 
ing down the number of cars shipped to the 
United States, the Japanese would do better to 
sell as many as they can, while seeing to it that 
those sales are balanced by growing sales of 
U.S. goods to Japan. The place to begin would 
be. clearly, telecommunications. 

— THE WASHINGTON POST. 


Sleaze and the Pentagon 


The U.S. Defense Department is in crisis. Its 
managers are again treating the symptoms by 
loudly demanding refunds Iiom greedy or cor- 
rupt contractors. Congress should not be de- 
ceived. The sleaze in the weapons industry 
reflects only the dissipation of purpose in the 
Pentagon. Never mind the wildfire of waste: 
The problem is national security and its debili- 
tation by a sclerotic defense bureaucracy. 

Many or tbe Pentagon’s major contractors 
have recently been tainted by scandaL Its 
largest General Dynamics, has seen the for- 
mer manager of its Electric Boat division 
claiming to have inflated costs. National Semi- 
conductor has pleaded guilty to violating fed- 
eral rules on testing chips. Sperry has admitted 
falsifying bills for work on the MX. Now 
General Electric stands accused of filing false 
claims for work on the Minuteman warhead. 

Crime aside, many contractors charge the 
government shamelessly. McDonn ell-Douglas 
tried to collect $25 minion for legal expenses in 
fighting a rival Rockwell billed for country 
club dues: General Dynamics for public rela- 
tions and boarding an executive’s dog; United 
Technologies for political contributions. 

A mentality so careless with costs is no more 
rigorous on quality. Hughes Aircraft’s work on 
army and navy missiles was so shoddy it was 
forced to cease production. “Our No. 1 priori- 
ty is product substitution, where people sell us 
shoddy material and junk,” the Pentagon’s 


business world. They feed off sole-source con- 
tracts and, despite recent attempts at reform, 
are largely insulated from competition. Their 
products are shaped not by the discipline of 
market demand, but by highly detaileef specifi- 
cations from ntilitaiy officials. They are the 
kept creatures of the Pentagon bureaipacy, 
only so faithless because so robbed of dignity. 

The arrangement suits each ride's private 
agenda. Pentagon officials gain the power to 
build empires and to gold-plate weapons at 
whim. The contractors rack up profits without 
the exertion of competition. The deal is ce- 
mented by revolving-door employment: In the 
three years ending in 1983. at least 1,900 high- 
ranking officers retired from the military and 
went to work for contractors. 

But consider the consequences. By destroy- 
ing competition among contractors, the Penta- 
gon loses every benefit of quality and cost that 
free markets bring. Equally serious is the sti- 
fling of innovation. The Pentagon’s record for 


producing innovative weapons is dismal Its 


inspector general complained recently. 
Is this behavior typical of 


American busi- 
ness? Of course not but the Pentagon’s con- 
tractors do not operate in the conventional 


best weapons, like the F-16 fighter or Side- 
winder missile, often were engendered outside 
the official procurement agencies. 

The bedrock of the United Stales’s military 
superiority over the Soviet Union ought to be 
its free economy and superior technology. In 
squelching both, the Pentagon forfeits its 
greatest advantage. Instead of being diverted 
by the minutiae of the militar y budget, Con- 
gress could double fighting power and halve 
procurement costs by going to the root of the 
Pentagon’s disease. 

— THE NEW YORK TIMES. 


1910: Doable Doty for Opera Scenery 
NEW YORK — The Metropolitan Opera 
Company is filled with astonishment over a 
ruling by the Treasury Department in Wash- 
ington that the company must pay duty a 
second time on foreign-made scenery and cos- 
tumes which the company intends to bring 
back to New York after its season at the 
Chitelei Theatre in Paris. If the ruling stands, 
then the company will have to pay many 
thousands of dollars in duties cm scenery and 
costumes on which it was originally compelled 
to pay as high as 85 percent tariff. The compa- 


ny has entered a protest against the ruling, 
which is 


said to have the approval of the 
Secretary of the Treasury. It is the intention of 
the company to take a large consignment of 
scenery and costumes to Paris, regardless of 
the final derision of the customs authorities. 


1935: Moscow Talks End in Accord 
MOSCOW — The AngloRussian conversa- 
tions in Moscow came to an end [on March 31] 
with an expression of complete community of 
views between the two governments. This was 
written into an. official communique whose 
length and precision stand in sharp contrast 
with the brief and vague official note given out 
at the end of the Hitler-Simon talks Iasi week. 
The Moscow communique states implicitly 
that Soviet Russia and Great Britain see eve to 
eye on all problems concerning the present 
international situation. On the specific ques- 
tion of the Eastern pact, the communique 
makes it dear that Russia in no way intends 
the pact to be directed toward the isolation or 
eodrciemem of Germany, and that Great Brit- 
ain is now fully convinced of this, despite the 
fears expressed by Hitler to the contrary 


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- r Vi- 

•‘aoc 


MONDAY, APRIL 1, 1985 



Reagan: He Stands Fast, so Pragmatists Move 


N EW YORK — Ronald Reagan 
brings ideology to (he pragmat- 
ic world of Washington. 

The politicians and much of the 
press in the national capital tend to 
create presidents in tbe image of 
those they have been accustomed to 
seeing — men who move to the center 
upon entering the White House. 

Mr. Reagan has been the most im- 
portant leader of the conservative 
movement since the defeat of Bany 
Goldwaier in 1964. As Ronnie Dag- 
ger documents in his book “On Rea- 
gan.” which covets Mr. Reagan’s 
many radio speeches of the last two 
decades, his most basic beliefs have 
not changed in that period. 

Mr. Reagan’s political popularity. 
White House polls have shown, has 
been traced to the consistency of his 
strong views. That consistency and 
the genuineness of his views have 
been underestimated by, and have 
stood out in contrast to, the tradition- 
ally more pragmatic and cynical 
views of establishment Washington. 

As the Urban Institute put it: ‘The 
Reagan administration, more than 
most others, has had a clear vision of 
what it was trying to accomplish.” 

Thus, while the president stands 
fast as a result of long-held beliefs on 
behalf of tax cuts or weapons sys- 
tems, it is inevitable that the pragma- 
tists whose views are, after all mov- 
able. must move toward him. 

Mr. Reagan has many times in the 
past equated the evils of big govern- 
ment at home with loss of individual- 
ism and the threat lo freedom from 
collectivism and co mmunis m abroad. 
Thus his determined' support for his 
tax cut program was based not mere- 


By Saul Friedman 

This is the second of two articles. 


Mr. Reagan’s continued success in 
further digimishmg the reach and 
role of government by obtaining new 
cuts in domestic programs. 

“The deficit has become an insur- 
ance policy against the Democratic 
opposition,” said John Bickerman, 
research director of tbe Center on 
Budget and Policy Priorities, a non- 
partisan Washington think tank of 
moderate ideology. “As long as Rea- 
gan runs a big deficit,” Mr. Bicker- 
man said, “Democrats are under 
pressure to help him cut it. They can 
do so only two ways, by cutting the 
budget or raising taxes. And no one 
wants to be for tax increases.” 

Consequently, Democrats have 
joined Republicans on the Senate 
Budget Committee in supporting a 


freeze in domestic spending and oth- 
er proposed Reagan cuts. 

. Although the committee defied the 
president and voted for a freeze in 
Pentagon spending, that decision is 
not expected to stand. 

Mr. Reagan also has exploited the 
Democrats weaknesses on other is- 
sues, On the MX he took his case first 
to the Republican-controlled Senate, 
thereby putting additional pressure 
on the Democratic House. Just as he 
has used the deficit as bludgeon 
against his opponents on domestic 
issues, so has he used the arms talks 
in Geneva as a lever to win approval 
of weapons systems. 

Some observers think (hat his 
strength will be on the wane because 
be is a lame duck. But that does not 


of journalism at Columbia 
covered the White House for 19 years. He 
contributed Bus comment to Newsdqy. 


ly on the political popularity of cut- 
t his belief in the 


ting taxes, but also on ! 
necessity of permanently curbing the 
size and role of government. 

He has led a massive transfer of 
spending from domestic to military 
programs because/as he has repeat- 
edly said, he believes government 
should not impede the ability of its 
citizens to succeed on their own and 


that government’s primary duty is to 
ral security. 


protect the national security. 

Mr. Reagan's tactics — asking for 
and holding out for more than he was 
expected to get — have succeeded, 
said a senior staff member of a House 
committee, because he has had a 
“simple, straightforward message 
which was clear -and compelling — 
that government was the problem 
rather than the problem-solver.” 

Mr. Reagan seems to be getting 
help this year from the pressure that 
has been created by the most spectac- 
ular failure of his administration, the 
unprecedented S 200-billion deficit 
that could wreck Reaganism. 

In lieu of having a program, Demo- 
crats have been heavily critical of the 
Reagan deficits. But the deficits be- 
come another important tactic for 


In China, Doubt on Closer Soviet Ties 


C LAREMONT, California — 
Recent conversations with 
high officials in Beijing cast serious 
doubt on reports from Moscow that 
the meeting between Mikhail S. 
Gorbachev and China's deputy 
prime minister, Li Peng, presages a 
significant improvement in Chi- 
nese-Soviet ties. . . 

A few weeks ago. I found myself 
in Beijing for whit turned out to be 
a senes of discussions about , the 
triangular relationship among 
Washington, Moscow and Beijing. 
What came across was a rather pes- 
simistic view both of Chinese-Sovi- 
et and American-Soviet relations, 
along with greater —if cautious — 
hope for an improvement in Chi- 
nese- American ties. 

Certainly, there was no indica- 
tion that anybody in Beijing thinks 
rapprochement with Moscow is ei- 
ther possible or desirable, although 
small improvements may occur as a 
result of tbe new trade agreement. 

The Chinese view Soviet foreign 
policy as a continuation of Russian 
policy under the czars, and they 
find it threatening. What Beijing 
fears is not so much an attack on 

China as ex pansionism aimed at 

domination of southwest Ana. I 
heard again and again about the 
“three obstacles” to improved Chi- 
nese-Soviet relations: Soviet troop 
concentrations cm China's bonier, 
Soviet support for Vietnamese mili- 
tary operations in Cambodia, and 
the intervention in Afghanistan. 
Soviet troops in the Mongolian Re- 
public are also an irritant 
Officials in Beijing see little like- 
lihood tint these obstacles will be 


By Fred Warner Neal 


overcome. They fear that relations 
with Moscow could get worse — 
they think the Kremlin is so wor- 
ried about Chinese economic re- 
forms that it may interfere in some 
way to prevent their fulfillment. 

Tbe Chinese recognize that worse 
American-Soviet relations tend to 
produce belter American -Chin esc 
relations, but they resent the idea of 
being used as a “China .card.” 

They see closer American-Chi- 
nesc ties as mutually beneficial — 
for economic reasons and because 
both share an interest in containing 
Soviet ambitions in Asia. They do 
not expect any major improvement 
in American-Soviet ties. But they 
are concerned about any possible 
worsening of the American-Soviet 
Cold War that might lead to a ther- 
monuclear conflict. They appear lo 
have abandoned completely Mao 
Zedong's idea that a nuclear holo- 
caust might benefit China. 

Ideological concerns were mostly 
absent from our discussions ana 
seemed to have little influence on 
Chinese foreign policy. Beijing's 
preoccupation with economic de- 
velopment seems to have replaced 
its interest in competing with Mos- 
cow for global influence and leader- 
ship of world communism. 

Nor did the nuclear arms race 
figure predominantly in our discus- 
sions. The Chinese accept the Rea- 
gan view that Moscow has achieved 
“strategic superiority," and they ex- 
press understanding for the U.S. 
nuclear buildup. They are. they say. 


determined to expand “substantial- 
ly" their own nuclear arsenal but 
disavow any intention of trying to 


equal American or Soviet capacity. 

e officials 


All talks with Chinese 
come around to the issue of Tai- 
wan. Bering, one is told, hopes to 
solve the issue peacefully by negoti- 
ations and would allow the island 
to keep its capitalist system “and 
even independent military forces.” 
It is clear that Beijing would like to 
avoid the. use erf force but not so 
dear that force is ruled out 
The delicate nature of the Ameri- 
can-Chinese-Soviet relationship is 
apparent also in considerations 
about Taiwan. The Chinese are ad- 
amantly against U5. aims sales to 
Taiwan ana worry that American 
support for Taiwan could under- 
mine American-Chinese relations, 
thus impeding not only economic 
development but also Beijing's abil- 
ity to stand up to Moscow, 

There is no doubt, however, that 
bringing back Taiwan, one way or 
another, is a major Chinese con- 
cern. Unless Washington is pre- 
pared to abandon Taiwan. China 
may ultimately have to choose be- 
tween giving op an it in order to 
preserve its ties with tbe United 
States and modifying its rigid view 
of the “obstacles^ to unproved Chi- 
nese-Soviet relations. It will be a 
test of American diplomacy to pre- 
vent this from happening. 


The writer, executive vice presi- 
dent of the American Committee on 
East-West Accord, a private organi- 


sation boxed In Washington, conrrib- 
• York 


uted this to The New York Times. 


Message From an Israeli: The PLO Can’t Be Ignored 


J ERUSALEM — There has long been a national 
consensus among Israelis that we will not talk to 
(he Palestine Liberation Organization. In this, we 
are making a grave mistake, for detestable as the 
PLO may appear to us, it is the only plausible 


By Meir Merhav 


FROM OUR APRIL 1 PAGES, 75 AND 50 YEARS AGO ££ 


asser Arafat, 
President Hosni Mu- 
of Egypt for talks with Israel about the 
future of (he occupied territories have provoked a 
new chorus of refusal: Everyone who counts in 
Israeli politics has declared once again that we 
shall never, never talk to the PLO. So far, the 
Reagan administration — prodded, no doubt, by 


estinians. That, however, is not now the case. 

Many Palestinians are no doubt ready to abjure 
terrorism and give up (he armed struggle against 
Israel — if only for the practical reason that 
neither the Palestinians nor the rest of the Arab 
world has the power to vanquish Israel by force. 
Others may be willing to abandon the dream of 
returning to Jaffa, Haifa, Lad, Ramlah and the 


problem, and it is unacceptable to those of us who 
do not want Israel to become a binatkmal state — 
another Lebanon, in effect — or lo remain forever 
a walled-in fortress surviving from one war to the 


□ext and paying the debts in between. 
True, even iflsrael 


other towns and villages where they or their fore- 
i. A few 


bears were bora. A few may even be willing to 


Jerusalem — has stood loyally by them. 

30K long aj 


in 


In fact, Israel undertook 

David accords, to talk to the Palestinians about 
their future. That commitment remains binding 
on any government of Israel. 

Tbe current government, a fragile coalition led 
by the Labor Party, is committed to a “Jordanian” 
solution to the Palestinian-Israeti conflict. It has 
therefore responded with lukewarm interest to Mr. 
Mubarak's suggestion for talks with a joint Jorda- 
nian-Palesunian delegation. 

But tbe crux of his initiative is not negotiations 


If brad wants peace, it must make 
peace — with its mortal enemies 
above all To try to settle with proxy 
negotiators would be futile at best , 


did agree to sit down with 
official representatives of the PLO, there would be 
no assurance that the outcome would be honored 
by all PLO factions or tbe rejectiomst Arab states. 
It is, however, certain that no other Palestinian 
spokesmen would be able to sign an accord if it 
was unacceptable to the PLO. 

Moreover, not bong official representatives, 
such “acceptable” negotiators might well have to 
be more obdurate than the PLO itself. 

True, the PLO is Israel's mortal enemy. It is not 
prepared to accept the validity of the Zionist tenets 
that underpin Israel’s existence. And it claims 
potiiical and historical rights to areas from which 
Palestinians fled or were expelled in 1948. 

Tbe PLO's mainstream faction may in practice 


be prepared today to settle for less than was 
envisioned in the Palestinian Covenant 


But there 


is no certainty that the organization's tactical re- 


between Israel and the Jordanian king: It is to get 

. Mr. Mubarak 


Israelis talking to Palestinians, 
knows well enough that there can be no solution to 
the Palestinian problem unless this happens. 

Yet most Israelis remain obdurate. Jerusalem 
wifl not sit down with representatives of the PLO. 


Nor will it accept anyone nominated by the PLO. 
At best, some moderate Israelis seem 


ed by the PL 
m willing not 

look too closely into the political biographies- 
Palestinians who may come to tbe table. 


to 


To such Israelis, it would be acceptable if Pales- 
tinian negotiators sympathized with tbe PLO. 
They might voice its positions; they might even, on 
the quiet, really be PLO nominees — as long as 


they are not officially members of that organiza- 


tion. To qualify, they must also abjure terrorism 
fit of the PLO’s extreme demands 


and renounce most i 

— including the Palestinian Covenant’s call for the 
destruction of the state of Israel the claims tq 
Jerusalem and (he demand that Palestinian refiir 
gees be granted tbe right of return. 


accept, with clenched teeth. Israel's insistence on 
holding on to pans of the West Bank that it 
considers vital for its security. 

But no Palestinians will waive the right to self- 
determination — the right to national sovereigniy 
over however small a homeland of their own. And 
no Palestinian .signature on any pact will be bind- 
ing unless it is seen as satisfying these aspirations. 

Why, that, do some Israelis seem interested in 
siting' down with non-PLO Palestinians? Many 
have a cynical logic or their own. Israel would 
“negotiate” with Palestinians who represent no 
one but themselves: it might even reach a “settle- 
ment” with some carefully chosen “notables" — 
only to Lave that settlement promptly rejected and 
its signatories branded as traitors, if not worse. 

With this, Israel would have demonstrated that 


treat to more limited grads — it is now demanding 

apied 


a Palestinian state restricted to the areas occupied 
by Israel in 1967 — will be accepted by an its 
factions or (he rejectionist Arab states. 

Indeed, (he attainment of tins more limited 


it can be conciliatory — and at the same time 
cdthati 


mating 

Nor, finally, is it by any means dear that the 
PLO is prepared to abandon what it calls the 
“armed struggle" — its strategy of indiscriminate 
terror against civilians. 

But irlsrad wants peace, it must make peace — 
with its mortal enemies above alL To tty to settle 
with proxy negotiators would be fntile at best, and 
Dotentially dangerous. Israel must insist on speak- 
; directly to those who can make peace, 
low long must it lake, bow many more wars 
must be fought, how many lives most be wasted 





erk 



On Dreams 


By Anthony Lewis 



* 




. iV , w 
* r '.. -,■?* 


-..‘Si 


W ASHINGTON — Ronald Rea- 
gan’s mastery as a political 
leader was demonstrated again in the 
House vote for the MX missile In 
four years as president, he has not 
lost in Congress on an issue that he 
called decisive. But even that record 
is not a sufficient measure of his 
talent for leadership. 

When political scientists look back 
at the Reagan presidency, one quality 
will dazzle them more than any other. 

That is Mr. Reagan’s ability to create 

his own realities. He asserts, as truth, ^ ^ 

visions that have nothing to do with £ « yxr?*? 2 

the facts — and moves the whole * fyj ' rxcr - 

framework of debate to bis premises. ' • 

A longstanding example is his as- 
sertion, made in the 1980 campaign 
and repeated since, that in the years 
before be took office “America had 
unilaterally disarmed.” If words 
mean anything, that statement is 
nonsense. In the 1970s tbe United 
States added 5,000 nuclear warheads 
to its strategic missiles, built the Tri- 
dent and Trideni-2, and developed 
the cruise missile. Looking at the 


1*7,* 




^ nrd ' 


5<ti 



lake into account his ideological 
commitment to move as far as he can 
in (he time left to entrench his agen- 
da, his view of government. 

While his tactics may change and 
be may settle for less than he wants, 
his strategic goals are unchanging He 
has demonstrated great persistence, 
even in tbe face of recession and 
congressional setbacks. 

He has chipped steadily away at 
regulatory agencies and social pro- 
grams. He will not easily abandon his 
policies toward B Salvador and Nic- 
aragua. And he has served notice that 
his “star wars" proposal comes from 
tbe depth of Lis beliefs and will be 
no bargaining chip to be abandoned 
for an arms agreement. 


facts, no rational person could say 
ally disc 


America “unilaterally disarmed." 

But Mr. Reagan is a man or con vie- 
tions. not facts. And to a high degree, ** 
his convictions have become the pre- 
mises of debate on military spending,. 
With all the concern in Congress 
about the size of the defense budget. 


&A £ l ‘ 

’. m . m 

.jifffcik 1 vf s/vjrT- 
■ j ^ 


V* ci CO*.* 


hardly anyone in the political main- 
:nalli 


The writer, now an associate pra/fasor 
ia unixersitv. 


stream challenges the proposition 
that America has to make up for 
years when it became “weak.” 

A dramatic example is the Strate- 
gic Defense Initiative. When Mr. 
Reagan produced the idea in a speech 
two years ago, it was labeled “star 
wars" and dismissed by experts as pie 
in the sky. They said the technology 
did not exist and could not imagin- 
ably produce even an imperfect de- 
fense against missiles for decades. 
The Russians would develop new 
weapons to elude such a system. 

The objections to the Strategic De- 
fense Initiative remain. Its most pas- 
sionate advocates no longer even 
claim that it is likely to produce a 
perfect defense — and without thaL, 
the effect must be to stimulate an 
offensive aims race. Bui ihe president 
continues to speak of the concept in 
visionary terms, as an end to fear. 
And there is every indication that 
Congress is going to start down the 
SDI road, ai a cost that will come to 
hundreds of billions of dollars. 

The whale question of ihe budget 
is another example of Mr. Reagan's 
ability lo impose his far-out reality 
on politics. He has run up the biggest 
deficits in American history: more 


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than the cumulative total from . .. 

George Washington through Jimmy I e “ u ^rig-ts 
Carter. And everyone knows why: He ‘ ®®tniMSsiftssc 
sharply cut government revenue and 
raised expenditure. ' 

Yet be continues to maintain that 
he is devoted to a balanced budget, 
and will achieve it without holding 
back on military increases or raising 
taxes. As far as one can teU, tbe 
public believes that fantasy — or be- 
lieves is Mr. Reagan enough to turn 
away from the facts. 

How does be do it? What is the 
secret of Mr. Reagan's power to im- 
pose his most fanciful visions on our 
perception of reality? Analysts will 


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Hiisxfjs 55 


i f? _ 

4Fri.v*. | 

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be exploring the mystery for years, 
but a few due 


1 clues are evident now. 

Trust is a key. Everyone trusts Mr. 
Reagan as a person. He is so obvious- 
ly sincere. He believes all those things 
he says. There is none of the defen- 
siveness in him of a Richard Nixon: 
he is confident and easy. He has d 
proof that dreams can win over facts. T 
because his own dreams come true. 

America is a country of dreams, 
and Mr. Reagan's genius is to under- 
stand thaL We would rather hear that 
we can strike it rich, however remote 
that prospect is for any individual, 
than be told that the government will 
help if we are poor. George McGov- 
ern found the limits of egalitarianism 
when he proposed taxing away inher- 



■ra S' 

« id ^ ; 





K-f 




i lances over 5500,000; even the poor- 
i dream 




est did not want to give up the i 
of leaving riches to their children. 

Tbe only trouble is that dreams do 
not displace realitv in the long run. 
Lower taxes and free enterprise will 
not run subway systems or support 
universities or in other ways sustain 
community life. The consequences of 
runaway deficits and a mounting 
arms race win fall on our children. 
But such concerns have not produced 
on effective challenge to the most 
remarkable politician of our age. 

The New York Times. 



LETTERS 
Zifl* Oean Hands 


Regarding " Zia Works a Little Mir- 
acle On Pakistan’s Economy” by Jon- 
athan Power ( Feb. 15): 


As a Pakistani I can only be grate- 
ful for this highly objective article. 
President Zia has made it dear that 
civil liberties will return with the res- 
toration of a representative regime, 
and be is effectively going about this 
task in phases and without rhetoric. . 

Allow me to remark that the . * 
bloody-handed, s kill 1 -and -cross - 
boncs-b ran dishin g hangman in (he 
Oliphant cartoon is not General Zia. 

I.M.K. ZAMAN. 

Paris. 


French 'Protection’ 


In response to “ Grim Times for 
France's Carmakers" (Feb. 4U 


'" g H 


It would certainly be a good thine fra Israel 
such “moderate" Palestinians could be fout 


— and bestowed with the power to 
ments that would be binding on their fellow 


would have ensured that nothing came of the talks. 
We would tbns persuade ourselves and the rest of 
the world that there is “no one to talk to” among 
the Arabs about the territories- 
What would be wrong with this? Why sol high- 
light the impasse for all the world to see? Because, 
in the end, tbe Palestinian problem is also Israel's 


French i governments — of the right 
or left— -nave tried to protect French 
ormakers not rally from Japanese, 

and how much treasure spen t bdore w e recogiizc by ^ 
tiiat the PLO is the genuine representiuive of the '^lcresultrWhatonce'wasa!ead- , 

mg automobile industry is cow on the, 
verge of collapse. That ought to "be a! 

. warning to those in the Umted States 
who advocate protectionism. 

MAURICE H. ANDRE' ’ 
Brussetex 


Palestinian people and (he key to any settlement of 
the Arab Israeli conflict? 


The writer is a member oft he editorial staff of The 
Jerusalem Post This article was adapted for The 
New York Times from an essay 





'.Wt' -**:**'•*. • 


■Dang^ 

, elyinj ‘ 

Dreaiii, 


Doctors Hold 
Walkout in 


Sudan Over 


J^JNGTON— r„ 
gangs ' mastery as a ^ 

demonstrated a« a rV 

?3Wte;-for the Mx fiw 

SS . ; fffi 

l^flflgress on an , ss J* * 

But even 

mtasu^Jn 
, :or leadership. <? j 

^•political scientists U.L. 
jfe g ffl 1 presidency. cw]!^ 
azzteftem more than 

Sete-Heaan'^ 

fnatluYe nothing u.^ - 

and move! lh V 
— -bate to hU 1 ;^, * 

^nade in^thMl&jVil^ 

«aUy disarmed.” 
rgnything, that staifm^ 
ffie 1970s ?£> 
^ded 5.000 nuclear 3 
stiatguc missiles. bui|i 
OTd^ddent-2, and JJj 
awe missile. Lookup 


H«H 


Reagan is a man of £ 


T • •Kiaui Hi fyw 

not- facts. AndtoahiPh^ 1 
evictions hav e become th? 


Cf debate on miliian- srX* 
iafl the concern m 
the size of the defense 
raaydnfi m the polii 1C aur 

SeAs? 

when it became “weak ,,Dp l ' 
ijmahc example is .h cS ^ 
™* Initiative. wO 
(^produced the idea ma sail 
£S*P\ k was labeled % 
Mdtenssed by 

ay. They said the iech«u 
3^P«stand could noiiaS 
abduce even an imperfect 
- missiles for ^ 
would develop 
W:% o elude such a s\*J. 
objections to the Straica C |> 
feftetive remain, lb 
e^advocates no longer 
that it is likely to 
t defense — and *Ai:houi the 
feet must be to stinn| at , 
ive-arms race. But the p reffl u 
ms to speak of the coma; 
ay toms, as an end icfe 
ifeere is every indication it 
ess is~ going to sun const 
aad, at.a cost that Ail! coei 
eds Of billions of dollars 
whole question of the wz 
fhet example of Mr Raa’ 
40 impose his far-jat nab 
e has run up list iswg 
tn American hisior. an 
«' cumulative toiif r ra 
% Washington throji fen 
i Ami everyone knou< «*rtf 
f cal government iyscoxs 
expenditure, 
be continues to maiaiciHi 
ievoted to 2 balar.Ctfd iate 
IK achieve it withca; hofe 
>Q military increases or ras 
As far as one can lei k 
believes that fanias;. — xb 
in Mr. Reagan eroudi 0 a; 
’ram the facts, 
ir does he do it? War if k 
of Mr. Reagan’s poaerwB- 
is most fanciful vision: *s 
ion of reality? x.'u.-'-iftri 
>ktdng the mysten for jss. 
ew dues are evident ni*^ 
if is a key. Everyone trafe & 
a as a person. He is 
are. He beiisvesali iooseujf? 
s. There is none «r the dot 

3 in him of a Runard N ; vc. 
confident and ear. He fc 
hat dreams car, win ■*»» 

4 his owe creams .vint s* 
srica is a country 0 . •-*» 
r. Reagan 's aeruus iciun ^ 
hat We wouic rather «ar» 

; strike it rich. [ ts T 

t is for cm mi'Mfc 
*a: Ae sovenuBf” 
we are poor. Geora ■ 1 - 
aid the limits of 
» proposed sawn*J»£*J 

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taxes and »« ^. 5^ 
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ktiesorinother^ 


jnityhfe.Tnsconse^ 

av deficits ; an. - ^ 

ace will 

* concerns : ^ 

challenge •*■ 


ective diM?n» ■ i £ 

able politician o! ■ 

77i/.V^v l.irt 


Patasiam • — , -. e ji^ 

ibis highly rtj-^dar** 


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DOONESBURY 


‘MORNm YeSiBUTHgS '=C& 
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LET Bmes BE BYGONES! . 


INTERNATIONAL HERALD TRIBUNE, MONDAY, APRIL 1, 1985 


Page 5 


Row Continues as Greek Is Sworn In AKm in japan 


^ Dtho “.v L ev . Reply to Riots 


Tk* Associated Press 

KHARTOUM, Sudan — the 
Sudanese doctors* union went on 
strike over the weekend to protest 
the government's use of force in 


putting down riots last week in 
Khartoum. It urged other muons to 


Khartoum. It urged other muons to 
join the walkout. 


The doctors said the protest was 


a political move that it hoped 
would provoke general civil disobe- 
dience that eventually would bring 
down the president. Major General 
Gaafar Nintoii 

A one-day strike was called Sat- 
urday and was later extended to 
Sunday. Western sources said the 
union had ordered the stoppage to 



C ast “heavy-handed treatment” 
week of rioters in Khartoum by 


SEARCH IN CHINA FOR BODIES — Workers in Jiangraen, Guangdong province, 
search for bodies around a passenger ferry that capsized, killing at least 74 persons. 


Lear gas and batons. 

Atleast three persons, and possi- 
bly as many as 1 8, were killed ra the 
riots, according to Western 
sources. Striking doctors said four 
persons had did. 

Medical sources said the strike, 
which they described as successful, 
had affected only government- 
owned hospitals in Khartoum. 

“Only toe emergency and acci- 
dent wards are functioning normal- 
ly," said Ahmed Abdel-Rahman, 
director of Khartoum General 
Hospital. Hundreds of doctors 
were seen sitting in the hospitaTs 
corridors and in a courtyard. 

“We have issued a statement 
mlling on other unions to unite and 
join our political strike to bring 
down the repine,’* said a young 
doctor who asked not to be named 
because of concerns for his safety. 

General Nimeiri arrived 


Weak Gulf States Fear 
Iran Will Target Them 


Nairobi Robbers 
Steal Gold Teeth 


( Jailed Press Internationa} 


By Jonathan C Randal 

Washington Post Service 


Washington Post Service 
KUWAIT — With the failure of 
Iran’s recent marshland offensive 
against Iraq, the Gulf oil stales 
have experienced another in their 
periodic cycles of fear, relief and 
renewed belief in deliverance from 
the conflict’s tensions. 

The pattern has remained rough- 
ly the same since soon after Iraq 


NEWS ANALYSIS 


Wednesday in Washington, Just af- 
ter the start of the riots. Although 
his visit is a private one for ms 


annual medical tests, he will meet 
this week with President Ronald 
Reagan mid other officials. 

A major topic trill be U.S. aid, 
inducting restoration of aid that the 
Reagan administration has frozen 
in an effort to bring about econom- 
ic reforms. 

The riots were prompted by aus- 
terity measures that General Ni- 
meiri has already taken, including 
removal of government subsidies 
on some essential commodities that 
caused steep price increases. Bread 
prices went up by 33 percent and 
gasoline prices by 50 percent. 

Western diplomatic soarces were 
skeptical that the doctors’ strike 
alone would pose a serious threat to 
General Nimdri. But a Western 
diplomat said the strike could be- 
come serious “if it were long-term 
and other unions joined 1L” . 

The government had no immedi- 
ate comment on the strike. ' 


BRENNER* NOT mkSlR.rT 
2BCBR&NER* S&M5THEfe 
ITMUGHTim HAPARECON- 
me WHALEN- OUffHON. 
j^EMS!_ ! I r » 


f 1: CANT GET OVER mLMAN 
j HOW MUCH YOU'VE 

f TAmjVME 

TOSMELL 

OJ- li-ME/owsa. 




PERSONAL 


INVESTING 


tiie International 
Herald "Btibunes 
nontiily review of the 
world of investment 


about the wisdom or efficacy of 
Iraq’s efforts to force Tehran to 
end the war by stepping up attacks 
on Iranian cities and civilians. But 
Baghdad has not sought the offi- 
cials’ advice and some diplomats 
question whether it has been of- 


question whether it has been of- 
fered to the Iraqi president. 
Despite their crave public talk of 


invaded Iran in September 1980 
and discovered that it was unable 
to win the war it had started. 

For the militarily weak and 
sparsely populated states of the 


Gulf Cooperation Council — Saudi 
Arabia, Kuwait. Bahrain. Qatar. 


Arabia, Kuwait. Bahrain. Qatar, 
and the United Arab Emirates — 
theirs is the politics of survival 

Their governments, dominated 
by Sunni Moslems, are backing and 
providing economic aid for Iraq 
not because they necessarily sup- 
port its president, Saddam Hus- 
sein, but because they believe that a 
victory by Iran’s militant Shiite 
Moslans would sweep them from 
power. 

At best, the Gulf Council stales 
believe that they are in a period of 
remission and that the threat of 
Iranian victory will come again, 
their officials say. 

At worst, they are caught in what 
is sometimes in diplomatic lan- 
guage called “creeping Lebanoni- 
zatioo." or the gradual accommo- 
dation to rising Tevris of violence. 

Unofficially, authorities in the 
Golf states have expressed doubts 


favoring a diplomatic settlement of 
the war, Gulf leaders privately fear 
that Iran wQl not stop fighting as 
long at its spiritual leader. Ayatol- 
lah Ruhollah Khomeini, is alive. 

The leaders recall that Iraq’s air 
attacks on shipping bound for Iran 
failed to force Tehran to negotiate. 
But they did frighten the nations of 
the Gulf Council and cause ship- 
ping losses when Tehran retaliated, 
attacking tankers and other vessels 
using the ports of Gulf Council 
states. 

Now as then, the council coun- 
tries have expressed hope that Iran 
would cot retaliate against ihwn 
for Iraq’s war on civilian targets, 
which Tehran wants slopped. 

That possibility is of particular 
concern to Kuwait, which is at the 
head of the Gulf and within right 
minutes' flying time of the I ranian 
airbase at Bushire. 

Kuwait’s population is depot- 
dent on vulnerable desalinization 
plants and its air force untested in 
combat. 

It was encouraged last June 
when a Saudi F-15 shot down an 
intruding I ranian F-4 Phantom. 
Saudi Arabia also began sharing 
information from U.S.-supplied 
Airborne 'Warning and Control 
System surveillance aircraft flying 
over the Gulf. 

Kuwait has muffled its once stri- 
dent criticism of Washington’s 
Middle East policy following the 
Reagan administration's refusal 
last spring to seD it shoulder-fired 
Stinger anti-aircraft missiles, and 
General Robert ingston, chief of 
the U.S. central command forces, 
visited Kuwait last week for the 
first time. 

If Iran woe to defeat Iraq on the 
ground, diplomats and analysts 
doubt that Kuwait could be pro- 
tected, especially if refugees from 


NAIROBI — Police in Nai- 
robi said Sunday that they were 
looking for two of robbers who 
twice last week attacked people 
and tried to extract their gold 
teeth. 

The gold teeth are melted 
down for re-sale, police said. 
One victim told police that 
Tuesday that two men with ma- 
chetes knocked him down, 
punched him in the mouth and 
wrenched two gold teeth worth 
$200 from his mouth. He said 
the men left his wallet behind. 

Police said another victim 
was asleep Thursday in a Nairo- 
bi hotel room when two men 


By Henry Kamm 

AVw Tori Tunes Service 

ATHENS — Christos Sartzeia- 
kis has been sworn in as president 
of Greece. 

The opposition benches were 
empty Saturday night as the new 
president, a Supreme Court justice, 
redted the oath read to him by the 
Greek Orthodox primate; Arch- 
bishop Serap him. 

Mr. Sartzetakis. 56, was elected 
Friday in a tumultuous special ses- 
sion of Parliament. 

Constantine Mitsotakis, the im- 
position leader, announced after 
the voting that his New Democracy 
Party considered Mr. Sarttetaki/s 
election invalid. He challenged the 
constitutionality of the deciding 
vote of the interim president, Yan- 
ms Alevras, and accused the gov- 
erning Socialist Pam of violating 
the secrecy of the ballot. 

Mr. Sartzetakis achieved victory 
with 180 votes, the minimum re- 
quired, only because the Commu- 
nist Party joined Prime Minister 
Andreas Papandreon’s Socialists, 
who nominated him, in voting for 
him Political analysts said they be- 
lieved the election marked the' first 
tinw since World War H that the 
Communists, who are strongly pro- 
Soviet, had been indispensable in 
carrying out a major government 
derision. 

The fact is considered significant 
in a year in which general elections 


widened by Mr. Papandrcou’s sur- 
prise reversal this month prevent- 
ing the re-decuon of Constantine 
Canunanlis as president. 

Mr. Caramanlis is a conservative 
who led Greece in the transition 


from mili tary dictatorship to par- 
liamentary democracy, and from 


monarchy to republic. 

Some Greek and dip 


Some Greek and diplomatic ana- 
lysts speculate that rhe dropping of 
Mr. (jiramanlts was a result ol an 
agreement between the Socialists 
and the Communists that may car- 
ry over into parliamentary elec- 
tions. 

Dimitris Androulakis, a Com- 
munist official denied that there 
had been formal cooperation be- 
tween the parry leaderships. But in 
an interview in the party’s head- 
quarters, be claimed for the Com- 
munists the rale of “catalyst” in 


persuading Mr. Papandreou to 
withdraw nis support from Mr. 
Caramanlis. 

He said the left wing of the So- 
cialists, which he described as the 
party's “dynamic forces,” were 
aware of “Communist pressure" 


will be held by October. The impor- 
tance of the Communists has been 
enhanced because the gulf between 
the Socialis ts and the conservative 
New Democracy Party has been 


London-Cape Town Record 

The Associated Press 

LONDON — A British Airways 
Concorde flew from London to 
Cape Town in 8 hours and 8 min- 
utes Thursday, breaking an eight- 
year record, an airline spokesman 
said. It stopped once ou the 6,000- 
mile (9,700-kiloineter) journey, 10 
refuel in Monrovia, Liberia. The 
previous record, 11 hours and 54 
minutes, was set by a Boeing 747. 


against Mr. Caramanlis and had 
tnads the prime minister realize 
that supporting him might split his 
party. 

“A tendency between some So- 
cialists and the Communists to co- 
operate became apparent," Mr. 
Androulakis said. '’Papandreou 
changed his mind to bring these 
forces bade." 

Analysts say they believe there 
are regular contacts between the 
Communists and the more Marxist 
elements in Mr. Papandreou’s 
ranks. But Mr. Androulakis strong- 
ly criticized the Socialist govern- 
ment. 

In the Communist view, Mr. Par 
pandreou does not practice the so- 
cialism he preaches. Instead of put- 
ting into effect the program of 
radical change cm which he was 
elected, be has acted as “the custo- 
dian of the existing system,” Mr. 
Androulakis, 34. said. 

"The real struggle between the 
Socialist Patty and New Democra- 
cy is to capture power," he said. 
“They fight hard, but on the impor- 
tant questions they think alike. We 
say power should never be a goal in 
itseu. In practice, Mr. Papandreou 
does not want 10 break with the big 
capitalists despite his declarations. 
The Socialists have not nhang wl the 
link of dependence with the United 
States and NATO." 


Chooses Jailto 


Fingerprinting 


The Associated Press 


TOKYO — The first foreign- 
er to challenge Japan's law re- 
quiring aliens to be fingerprint- 
ed has idd a court that she 
would drop her legal battle and 
instead serve a five-day prison 
term on the charges. 

Kathleen Monkawa, a U.S. 
citizen, was arrested in June for 
refusing to be fingerprinted 
three years ago under a law that 
requires all foreigners 16 or old- 
er to be fingerprinted if they 
stay in the country one year or 
longer. Since her arrest. 131 
other foreigners have chal- 
lenged the law. Among Japa- 
nese, only criminals are finger- 
printed. 

A lower court ruled that Mrs. 
Morikawa should be fined 
10,000 yen (S40) or jailed for 
five days. Breaking the law car- 
ries a maximum one year in 
prison or a fine of up to 30,000 


yen. 

“It’s not a matter that can be 


solved by paying 10,000 yen so 
Td rather follow my conscience 
and pay it by serving five days 
in prison,” Mrs. Monkawa said. 


mTTnwiiK' 


ENTERTAINMENT 


BROADCASTING TO CABLE COMPANIES 
IN EUROPE & THE UK VIA SATELLITE 




|c H A N N E L “Europe* Best View' 


PROGRAM. MONDAY 1st APRIL 


tried to pull out his two gold 
teeth with a pair of pliers. They 


teeth with a pair of pliers. They 
fled when he began to struggle. 


1335 FAMILY 
14 JO STAR FLEET 
15.00 SKY TRAX 1 
15.45 SKY TRAX 2 
16J0 SKY TRAX 3 
17 JO MR ED 


IS JO THE LUCY SHOW 

18 30 GREATEST AMERICAN HERO 

19J0 VEGAS 

20.10 THE UNTOUCHABLES 
21 05 ICE HOCKEY 

22.10 SKY TRAX 


20 h. DTner dansant 
Champagne et Revue 
440 F 
22 h et 0 h 
Champagne et Revue 
300 F 
PRIX NETS 
SERVICE COMPRIS 


Son Sann to Seek 


U.S. AidforHis 
Cambodia Forces 


SKY CHANNEL TV AIVEKTtSNG SEU5 PROOUCTS (AST- FOR MORE WFORMATION. 
tUlES. MARKE1V4G & AUOB4CEDMA CDNWCT T« SALE5 DEPARTMENT 
SKY CHAMd, SATELLITE TELEVISION Pl£ TEL' LONDON (01) 6384077 TELEX 266943 




Iraq began arriving in large num- 
bers across Kuwait's western bor- 


bers across Kuwait's western bor- 
der. 

Yet in the Gulf states, there is 
little talk of the war except in the 
highest government circles. A 
Western diplomat who recently 
spent three days in the United 
Arab Emirates to the south report- 
ed that officials there had not even 
mentioned the war in passing. 

And in Kuwait, there was no 
panic or rush to the airport when 
Iran appeared to be heading to- 
ward a decisive breakthrough in the 
marshes earlier this month. 

Bui sometimes, the nighttime 
Iranian shelling of the southern 
Iraqi port of Basra can be heard in 
Kuwait And Saudi Arabia needs 
no reminder of the potential for 
renewed unrest among the Shiite 
minority in its eastern oil-produc- 
ing province; nor does Bahrain 
about its own large Shiite commu- 
nity. 


New York Times Service 

BANGKOK — Son Sann, a for- 
mer Cambodian prime minister 
who is head of one of the three 
components of the resistance coali- 
tion in Cambodia, plans to visit 
Washington in early April to urge 
Congress and the Reagan adminis- 
tration to back financial aid for his 
guerrilla forces. A House subcom- 
mittee has proposed such aid. 

Mr. Son Sann's organization, the 
Khmer People’s National Libera- 
tion Front, is the larger of two non-': 
Communist guerrilla groups fight- 
ing the Vietnamese-installed 
government in Phnom Penh. 

Mr. Son Sann said Friday that he 
regarded a March 20 vote in favor 
of the aid by the subcommittee on 
Aria and the Pacific of the House 
Foreign Affairs Committee as a 
significant change in U.S. attitudes 
toward involvement in the Cambo- 
dian conflict 

The subcommittee proposed S5 
million in economic support for the 
front and its non-Communisi part- 
ner in the coalition, a smaller group 
loyal to Prince Norodom Sihanouk. 
The funds would be channeled 
through Thailand. 


INTERNATIONAL CLASSIFIED 


(Continued From Back Page) 


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IMMIGRATION A BUSINESS VISAS 
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HEAD OFFICE 


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HONG KONG 3-7244209 Sophisti- 
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747-4600. 


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YOUNG IADY TB1INGUAL VBM 


PARIS NOTE THIS PHOt* AT ONCE 

757 62 48. Trustful VIP. tody, travel 


EUROPE 


TOKYO 442 39 79 

EUROPEAN YOUNG P J*. LADY 


LOW COST FLIGHTS 




PARIS: 520 97 95 

BILINGUAL YOUNG IADY PA 


Iran Says Missiles 


HOTELS 

FRANCE 


PAHS VIP SOFHBTICATED YOUNG 
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SINGAPORE INTL GUIDES. CdL Sb- 
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AMSTERDAM (020) 182197 
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United Press International 


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BAGHDAD — Iran said it fired 
two missiles into Baghdad early 
Sunday, and Iraq said it raided two 
Iranian cities ana a military camp. 

The Islamic Republic News 
Agency of Iran said the missiles 
caused “heavy destruction and ca- 
sualties in Baghdad’s financial and 
government offices." The Iraqi 
government did not comment on 
the incident 

Iraq said its air force raided the 
Iranian border city of Mehran, the 
city of Hormuz Abad and a mili- 
tary camp at Hussein Abad. "All 
the planes returned safely to base," 
the Iraqi News Agency said. 


| HONG KONG {K-3) 723 12 37 


YOUNG HEGANT LADY 

Me ttled PA. Pune 525 81 01 


PARS YOUNG IADY 341 21 71. 
VIP PA & bSngud in torar f r. 


COLLECTORS 


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NYC COMPAMON VIP. Socially 
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Bra state 343-1899. 
Copenhagen: (01) 329440. 
Fimlcfarh {0 69] 72-67-55. 
Lautannei 29-58-94. 

-Lisbon: 67-27-93/662544. 
London; pi} 8364802. 
MacHd: 455-2891/455-3306. 
NOam P2} 7531445. 
Norway: (03) 845545. 
Rome: 679-3437. 

Swedom 08 7569229. 

Tel Avho 03455 559. 
Vienna: Contact Frankfurt. 


Buenos Aires: 41 40 31 
(Dspt.312} 

Guayaquil: 431 943/431 
Una: 417852 
ftuneuui 644372 
5cm Jose: 22-1055 
Santiago: 6961 555 
Saa Pteda: 852 1893 


MIDDLE EAST 


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Jordan 25214. 
Kuwait: 5614485- 
Lebanan 34 0044. 
Qafcm 416535. 

Saudi Arabia: 

Jeddah: 667-1500. 
UAL Dubai 224161. 


MR EAST 


747 59 SB TOURIST GUIDE. Paris, 
afrportt 7 txn7mxhuaht. JntT trawL 


UPHTED STATES 


■anrfeefe 3900657. 
Hong Kmc 5420906 
Matdra 817 07 49. 
Seeal: 725 87 71 
Singapore: 222-2725. 
Taiwan: 752 44 25/9. 
Toby* 504-1925. 


U S Bondi duo 1952 wimooupora. Abo 
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due 1952 S> 1955 with coupons. WSam 


Thorra HonSson, Jr. 383 Ntvrrwrc 
Greta, Ntnhvita, Terswmno 372C 
USA. Tlx. 55*359 Wu Mgr Nck. 


PAKS LADY M1BPRETER. Towel 
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HONG KONG 3-671 267 young tody 
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Now York: J212) 752-3890. 
Wort Coash (415) 362-8339. 


AUSTRALIA 


SvAmy: 929 56 39. 
Mstbouiue. 690 823 


NEW YORK. Young! British lady i 
paoron. Tab 212-3Q7-7336. 


YOUNG OCEAMC LADY 01-245 
9002 London/ Airporfc/TrovBl 


PARIS YOUNG LADY, touw guide. 
Teh Paris 807 84 9S. 


ESCORTS & GUIDES | ESCORTS & GUIDES I ESCORTS & GUIDES I ESCORTS & GUIDES } ESCORTS & GUIDES 


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[T7 rr 77 T rrZ r 

































Page 6 


INTERNATIONAL HERALD TRIBUNE, MONDAY, APRIL 1, 1985 

■ ".Jj 1 ~.CV i .i n i i n 


International Bond Prices - Week of Mark 28 


Provided by Credit Suisse First Boston Securities, London, Tel.: 01-623-1277 

Prices may vary according to market conditions and other factors. 


RECENT ISSUES 


Ami security 


Opi iiim MJd 
Mat Can Price Price field 


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AUSTRALIA 


STS Auitrane 
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>60 Auilralla 
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121 Alcon Australia 
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160 Alcoa ot Australia 
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1263 1170 


AUSTRIA 


SIM Austria 
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120 Austrian Control Bank 
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TBWl 12/0 1251 

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IBS* 9/0 998 

9S 1232 11.97 

99 18/1 1036 581 

991k 1138 1085 


__ 119* 

*01* 1237 
105 11JJ7 

112 1257 

H 1236 


1356 

1305 

1106 

1167 

1262 

1224 


951ft H56 1312 AM 


9JVj 1251 
lOIVi 123. 
931ft 1297 
1332 


13W VI Mav 102 1261 

UMISFeb 9SW 12/6 
llVUVOAer H 1261 
16 VI Jan 115 1275 

BP* 19 Sep TO 1271 
1316 VI Mar 101 W 1285 



S3Q Trans Austria Gcwt 
147 vtfmaCltv 
drill Vienna City 
S58 Zemndsoarko-Kommen HUVOFrt 
atSH ZentraispanaHCarnmer: UHVSFib 

BELGIUM 

BaaUnaEbco HH-89F* 
ltV>vpJon 
17 72 Jan 
9V87APT 

CANADA 


... 1299 
TO 9/4 040 <91 
999) 124 <231 

93W 12111245 182 
*SV| 1211 U22 838 


HW 1231 
BD 1265 
95 1239 
*7*7 1231 


1246 

1286 

1197 

1211 


(Cu5S European B 
SIM Ganllnonce 
cits 75 Kradianak Iflma 
H 125 Salvav 


10JU 966 
M 1291 
9IU 1237 
*7 11/5 


1048 

1197 

1271 

IMS 


1750 

SM 

1580 Canada 
SS0 AUBibUPrice 


14X17 Jun 
link W Oct 
llWVBMar 


HBW 1TA 
H 1136 
*W HA 


140 Air Canada 

umlnum Cp Canada 


SM Atuml 
St8 AmcalnU 

CBS23 A*oa Flnanalal Canada 
chS50 A«cp Flnandot Canada 
arito Bank Ol Brit CeiumWa 
SIOB Bmk Ot Montreal 
STO Bmk Of Montreal 
on!7S BmkOt Mailrtal 
SIM BankOIAtonlreol 
S2S Bank m Nova Scotia 
Sin Bank Of Nova Santa 
enS50 Bankmont RKritv 
160 Bel Canada 
□460 Ball Canada 
STO B*0 Canada 
Brim BeHConaaa 
arils Bell Canada 
1 50 Bm-RtLM 
sto BrtMcan Inti 
STS Bril Columbia Hydra 
stop Bril Colombia Hydro 
SIM BrB Columbia Hydra 
STO Brit Cohroblo Hydro 
1200 BrllColumtita Hydro 
SIM Bril Columbia Hvora 
1200 Bril CUumoia Hydra 
a«B BrllCalumUa iwunlcia 
156 BritCatumHnAtonlctP 
cnS2s Brit Cohxnbki Munida 
drill Brit Columbia Mwdcip 
aaWO Brit Cotamsdo ProyitTc 
cnslM Bril CoUunt/a Prwioc 
OtS 125 Brit CotomWa Provtw; 

CPS58 Bril Columofa Teieoho 
cni7a Brit CotumlM Tetoatw 
SIM Canadalr 
SITS Canadalr 
ansa Canadian imperial Bk 
S7S Canadian i moarlalfk 
STO Canodian Imperial Bk 
□ri 58 CanacOan Imperial Bk 
cnSTS Canadian Imperial Bk 
ariid Canadian iraaerlai Bk 
S7S Canadian Imperial Bk 
SIM Canadian Imperial Bk 
SIS Caoodka Nall Raltvmv 
ensso Canadian Nan RoJImov 

SW Canadian Nall RoUwar 

arSM Canadian Occld Petrol 
anS6B CanssBao Poclflc 
cnS50 Canodiun Pocmc 
SM Conodkei PeclBc 
o*7S Canadian Pactiic 
STS Canadian Pacific 
STS Canadian Paerfk 
en»35 Canadian Utiniiei 
01150 CanaOkm Ulilllin 
SM Cmndian Wheal Board 
□mo Chrveler Ctnui Con 
ari/o Caassndated-BatTNnt 
160 Camel idartsBaRwrai 
SM Comal ktoted-Badtuni 
cum Cradd Fane Franc-Can 
SM Dame Petroleum 
S58 Denw Petra leuai 
S2J Dominion Bridge 
S6S Du Port COnaan 
as* Edmentaa City 
SSB EldoradaNucleor 
SIM Export Develau Cora 

I1H ExdotT DevTiiOPCDra 

sua Export Devekm Carp 
5 wo Export Develop Coro 
sioo Exsari DmitoD Cora 
SITS Export Devetop Cora 
SIM Export Develop Cora 
sioo Export Develop Core 
ceau» Export Davekjo com 
SIM ExoariDevetoPCora 
cnSTS Form CndK Cora 
art 50 Farm credit Cora 
STS Farm Crtdll Coro 
STS Feder Busmen Dev Bk 
SM Ftder Business Dev Bk 
Mint Fedrr BuMMCS Dev Bfc 
art 50 Fedtr Business Dev Bk 
aaeo Fader BarinssDwBk 
Ort JO Ford Mart Crean Can 
os2S Gat Mermponroio 
CIS 60 GosMefnwaUtain 
ariM Got MemM Horn 
cm so General Motors Accent 
art » General Marti Actual 
an* 50 General Motors Acm* 
ex»7S General Mann Accim 
ensea General Moan Acceoi 
art w General Maura Accent 
art 50 General Motors Accept 
553 Gensttr 
STS Gcnrtar 
SM Genstar 
SIM GaJJesraKKi 
IS Klram walker HoMInn 

SM Hiram walker HotoUus 
S7S Hiram Winner HakHops 
S2S Han. CM 
cirt 60 Hudson Bov 
ens*D HumsBav 
art 41 KudmnsBcrr 
ots » HudsonsBov 
S7S Hudsons Bow 
SM HaSsonsBay 
SM ibai Canada 
SM Ima 
StoO loeu 

asH TnierarovkiPtoeLlne 
oil 25 i nil Harvester Clean 
i» im Canadian Finance 
arts tar Canodiun Finance 
cns» Laval City 
ariM Ural City 
ortjs LoM>m 
SM MoonUan Btuedel 
SM Moeminon Needii 
aril! Manitoba Province 
115 MonUeMProvUrca 
1JS MopitotaProvfna 
STO Manitoba Prevlnc* 
s« Manitoba Prwfrtce 
STO Atomtaoa Pminci 
SUB Muptfaba Province 
ens a MariiuneTiisTet 
ITS MnscyFerauson Ned 
SB Montreal Civ 
criM Mont real cur 

enS60 Montreal CUT 

urifi Manfred DI> 

Sin Morurwioty 

art 50 MorBrtol City 
Ori68 Ma«r«HCfy 
I WO Montreal Dh 

ariB Montreal School C »ac 

S75 Montreal UawiCommun 12 VBNbv 


isitviDee 10a U2 

UvkV4Mav invft ;mi 

<vi hast -- -- 

UVTVtJun H 111) 
UFA 86 May q 1211 
12 19 Nov IlUVi UU0 
IDUWMay 94 T2I6 
MX 86 May 1821* 1189 
MtoViMay 784 1222 

16X88 MOT TO 1688 
1614 71 Dec IW 1449 
IMS* Jun 106 1165 

EM 87 Jul fflJW 1223 
ITS. 88 Sea 1DCV OJO 
8*6 86 Jul <5M 1239 

)«. 8600 q 1116 

716 87 Mur *114 1275 
1* 89 Jm 18716 13.61 
12X17 Mar 98 1256 

13X8SMUT inn BSD 


1363 

n.ro 

1165 

1686 

1188 


9SV» 1132 11/1 <95 
11.11 
1846 


1136 

IBM 

094 

1394 

ISM 

15.19 

1490 

1329 

12/6 

9.14 

1097 

8/9 

1485 

1251 

1118 


92ft 1182 1399 192 
781 
1839 
1237 
15.1* 


'is UN na 

19.90 


81A 87 Od 

7*. VSAkOy 99X 1333 
WA 88M0T 1160 

UH88M 106X1137 
MXTBOct 1D7 1157 

1 6X89 May I07X 1221 
15X17 Jul 111X 1265 
llXVJOel m, 1225 
y 85 Jun Wft 1156 
17 TSOd U3 1UM 
11X12 Jut H ‘‘ 

WUV9MOT 91 11.1D 

13ft H Jet w»x n/s 

17X71 Nov WX 1237 
12 73 Dec 98X 1231 
J7X 88Seo TO 1638 
17X89 Feb <9 1257 

lift 87Mor 101 I486 

12ft 1* Nov 102 1167 

lift 85 Jut *9’* 1365 
15X86 Jul 103ft 11.95 
It 87 Mar TO 1236 
16ft 87 Jun 1116ft 1261 
15X89 Jun UOft 16/J 
J2X89MOV 99ft 1268 
11 70 May «1« 1U2 
16X11 Od 10918 UJS 
SX16NUV H 11.11 
■ft 87 Mar T5ft 1159 
16X11 Dec 187ft 1284 
T7XK MOT 97X 1272 
17X87 Nov IBS 15.17 
16X89 APT HD 1531 
9X89 May 91ft 1261 1265 HU* 
nnvoMav TTft 1256 mi 
UftVOOd WJft 1207 1233 

MX 12 Jun 1116ft 1216 1173 

17 87 AuO 107ft 1111 U81 

17, 14 Dec 113ft KM 1602 U n 
111* ID Dec 95% 1241 1161 

14 VI Od 183 1124 1359 

17X87 Feb 103ft 1491 14x7 

lift 81 Nov 707ft 1699 1631 1428 
* 720a Kft 1297 1276 11X6 
17ft 89 Apr 111 1343 15X5 

lift V2 May *6 1491 1436 

IB -M Jul 78 1490 1406 1116 


1/3 

HO* 

1US 

129* 

960 

nrr 

1286 

1132 

1096 

WJ* 

1135 

1200 

itq 

W.96 

on 

1208 

1192 

121* 

1219 

1699 

1247 

1189 

9/1 

13.97 

1419 

13/7 

119* 


9 86 Jun 95ft IJ.IS 
DftVIFra WJft 1260 
13X89 A«g 103 1276 

1314 86 Mar 102 U.*3 

7ft la Jan y* v&7 

12X87 May W* 1256 
1JX.870CI WJ 1171 
HX87 (tov 1001* Hit 
10X88 Jen qi* iui 
W 88 Mar HX 1196 
lift 89 Feb q 1137 

n 8< Nov IN 1LM 

lift 89 D« 96 1264 

10X10 Feb HU 1132 
121* 10 See tmx 1U8 
12ft VI Mar HU 1192 
lift 83 Od 97ft 73M 
121* 85 May 100ft 7.71 
72X85 NOV TOft ll.U 

ITXleOd 107 1HS 

12ft 17 Sep 1NU 039 

lift VO Jul 9*X 1233 
6X87 May 93 126* 

ITXVBOd WO 1695 

16ft V2 Dec 107ft 2390 

13ft V4 OCI 1001* 12/1 

12 85 Jim 118ft 9.13 
9ft 14 Feb 99 1072 T0J1 160 

15X86 Jon ltffX 1X19 15/5 

1* 87 Jan TO MJl 15/7 

15 87 Od WI 1678 1765 

9X880cf <3 1235 1294 1048 

XftKFCQ TO 1431 1557 

U 89 Jun lift 1X41 11.17 

17ft 99 Od U7I* 1S09 1432 

UXTIAar lllft 163S 1423 U93 

MX 12 Apr HT* 7219 1361 

16% 84 APT III 0.12 1411 

16 8* Jun W6 1202 1SJB 

II WMCr 108ft 111B 1475 

*ft 86 Jul XX U81 1186 9/7 
n 87 Haw INft 1568 1732 

HftVAor ft 1X16 M39 11 41 
*7 WMuv TO 1933 M.19 

MX 89 Jul U1X 1170 I4JJI 

87ft 1599 1314 

84ft IJflJ 14B 11/3 
9<ft 1208 1053 

105 1367 1476 

7*ft 1160 7132 

nxWMdy toft 7254 U M 

H*8*ADf M 143* 173S 1037 
97 7255 *79 

*7ft run 7274 loat 
ns hit uo 
nr 70/S 1031 

lift HU 1269 
10 1166 UK 1135 

80 12/9 129* 1154 

,99ft 5450 M/1 9J0 

TO 847 117 933 


lift io Jim 

W V4Frt 
1*185 Jul 
15ft 89 Jan 
‘ i2Dee 


prim Narean Qeaiiv Cora 


,9ft 86 May 
10 86 Auo 
14X11 Seu 
» i4Jd 
Oft VO Dec 
* 17 Fee 
nivjMur 
9X83 Apt 
*X 8S»pr 
9ft 89 MV 
llXWSdn 
11X8* Nav 
WftVOJun 
17ft 14 Od 

irAWOet 

,9ft VI Jun 
WiWJii ... 

17 89 Mar IB 
U 89 Jun *2 1255 

17 VBDee 9JT* 7767 
12ft VI Mar Hft 1197 
77X11 May 9Wa 1235 
We VI Itov Wl 1199 
lK.V2Mor IQS'-/ I17| 
17ft87FfD 187 1191 

!?■ '!« 


8m 1245 
TO ll.to 
**X n.q 
IK 12J6 
10BX 7133 
lex uni 
n i*3i 
93ft 1255 


10/1 

7297 

1)31 

1130 

12/1 

12JB 

11.73 

ion 


IIS 1449 M.19 
1047 


m vo Feb TOX U41 


1234 

1274 

031 

12>3 

1452 

1634 

1131 

1I« 


Middle An 
Mol Price Mot Life Curr 


oriM Haliend Bank Cancria 
160 New Brunswick Eledri 
STS New Brunswick Etodrl 
175 Mew Brunnrtck Eledri 
STS New Brunswick Pravlnc 
art 75 New Brunswick Pravlnc 
S25 Nawtoundlond Lab Hrar 
s» Hewl e undkmd Lab Hvdr 
S3S Nawtoundamt MimldpB 
art JO Newfoundland Pi-whce 
S2D Newfpunm on d Provinai 
S50 Neerluw dlo nd Province 
S60 NewttundJond Province 
S/0 Newhupdlona Province 
S58 Newfoundland Province 
STS Newfsundtato Province 
S7S Newfound la nd Pmvtace 
IM Kewtoutidland Province 
S73 Newtaunffland Province 
art 40 Nnrcen Erwrav Res 
■ MO Nora An AiMrio Cora 
ISO Nora Scotia Power 
011 18 Nava Scdio Power 
SIS Nova Scdio Province 
S7S Nora Scotia Province 
S75 Nova Scuba Province 
158 Nova ScotH Province 
SWO Nova Sadia Province 
STS Nava Seal la Province 
art 109 Nava Scotia Province 
i TO Nova Scdio Province 
,125 Ontario Hydro 
S 190 Ontario Hydro 
1125 Ontario Hvdro 
S 150 Ontario Hydro 
1200 Ontario Hydro 
1250 On torto Hydro 
S20D Ontario Hvdro 
S1B0 OntarlpHvrtra 
SIM Ontario Hydro Auo 
S2M Ontario Hydro NOV 
1150 Ontario Hydro 
STO Ontario Hydro 
STO Ontario Hydro 
*35 Ontario Wynro-E MOT 
*25 QttowaCarletan 
art 35 OtfowiFCarlefan 
s/o ottawftCarierm 

art 45 Panconodkn Pelroleum 
07550 Puntanadlan Petroleum 
ISO Potvecr 
art 25 OucbecCHv 
art 25 OuetiecCirv 
DrilS Quebec City 
COIlS Quebec Elly 
SUM Quebec Hydro 
art 50 Quebec Hvdro Mar 
art 50 Quebec Hydro May 
CnS 75 Quebec Hydra 
SIM Quebec Hvdro 
art 40 Quebec Hydro 
SI00 QuebecHnara 
art 50 Quebec Hvdro 
115 Quebec Hvdra-Etodflc 
S2S Quebec Hydro- Electric 
S125 Quebec Hvdb- Electric 
S2S Quebec Hydro-Electric 
SM Quebec Hydro- Electric 
SWO Quebec Hydroelectric 
STO Quebec Hydro- El Ktrt 
sm QuebceHvaro. Electric 
SB Quebec Hydro-Electric 
S75 Quebec Hydro-Electric 
cnSM Quebec Province 
STS Quebec Province 
135 Quebec Province 
ariM Quebec Province 
art 50 Quebec Province 
SM Quebec Province 
art 50 Quebec Province 
artSO Quebec Province 
an 58 Quebec ProvbKfl 
131 Quebec ProvhK* 

5150 Quebec Provtace 
5 758 Quebec Province 
art 50 Quebec Province 
SIM Quebec Province 
art ISO Quebec ProriiK* 

160 Quebec Province 


1463 

12 


16ft 88 Fen 107 133] 

17 380(3 H1W 074 

MU 89 Mar W8X 7333 . I4M 
9XV4Mar *5 066 1157 11/7 

HX87AUB W4X On 
77 VS Jan 98X 1231 
9X84 Mar Mft 11/4 
17H 89Nae 1D*X U-lt 
91* 88 Sea 91 125* 

I0X 85 Dec 99 1161 

97ft 11/5 11/5 832 

8* TZ75 iar 

ItSX 1*10 1S73 

WO 13/713/3 1150 




nx 016 
186 1195 

96* 1239 
«ft 039 
99ft 11.11 

96ft ll.U 

8 87 Apr 94 1U3 

14X89 Aar m 1141 
IIX89DCC 98» 1165 
1 OX VO May «X 113, 

1 1X VO Sea 99ft 1146 
13ft VI Feb 186X 1135 
16 VI Auo nift D.IB 
16 VI Nov 112X HOB 
U 77 Auo lllft 048 
OX 77 CM 104 IVJB 
lift 74 Feb 97 1 * 013 
8X84 JOB 97V» 1160 1160 8/4 
9ft VO Prior 91 1200 1114 1064 

17ft 86 Dec HOX 12/3 12/7 

14XV7 jun 184ft 1368 1X12 114S 


142 

11/5 


14ft 88 Dec 1ST 1189 
12ft 82 Aar 9*ft >260 
9ft 84 Dec ySX 067 
T6ft87Ftb TOSft 12ft 
13XV2D4C 103 1259 

mxvroa w iuj 
10 VS Nov 9* 09* 

6X88 Feb 107ft 093 
4ft 89 MOT 106ft 1*90 
6ft 89 May ltBft 1459 
4 VI Jul 104ft 1247 
TMiVlOa 118 5395 

i VJNov 103ft 1120 
lift V2 Dec 95ft 1261 


I7XV3S4P 
9X850d 
IX 86 Mar 
in 86 Nov 
8ft 84 Nov 
IftWFeb _ 

12 vi Feb lozi* U41 
lift 72 Jim 951* Oil 

9 V2AU0 
9ft VS Jut 

10 V9May 
10X86 Apr 
14X86 Jul 


15/2 

1356 

997 

1564 

7286 

1130 

IO.M 

IS. 17 
1579 
1564 
13/0 
1*82 
1353 
1204 
1277 


max 064 
99% 059 059 932 
97 1169 7191 891 

14ft 17/7 899 

95ft 1160 1236 890 
Mft 12/21346 160 
^ 1271 


Oft 1254 
84ft 12/0 
84ft 1234 
9# 1237 

118 *19 


7207 

1091 

11241 

1141 

18/6] 

13/1 

U53 

1*90 

116/3 


art 15 Quebec Urban Commanll MX 88 Jim 


12S RedKdti indorirtK 
SWO Roved Bonk Of Canada 
art 49 Rovaf Bank 01 CPnada 
art 35 Royal Bank Of Canada 
STO Royal Bank Of Canada 
ecu 81 Royal Bank Of Canada 
STO Royal Bank 01 Canada 
140 Royal Bank Of Cando 
STO Royal Bank 01 Canada 
□rt 40 Royal Bank 01 Canada 
art4l Rayet Bank 01 Canada 
01550 Ewei Trustee 
IM Roval TrutiCD 
SM Rayicase 
CRS40 Rornut 
SH Satkptdwwan Province 
SOB Saskaldwaan Province 
1125 S aih uldMiwnPrnvlnco 
SW Sariatdiortan Province 
sis Sosk p lrt T e ran Provtace 
STO 5oak nt riiewi»i Proricce 
SIM Saili utUwwu i Piuvlnce 
sm Seagra m Co 
5 its 5eoaramCoW/w 
enSM SeoraAccaptOTOe 
sioo Shed Canada 
1125 5heil Canada 
>40 Staipsons-Seart Accent 
Drt/o StaBKuni-han Accept 
art 50 SachaUiollonQDebN 
art 35 Sac Hrpottieoue Proem 
575 Swear Inc 
art 25 TexoMuli Canada 
S2S Turdom 

>100 Torunta-Danbilon Bank 
SM Toronta-Damlnkm Bank 
OriSO Toronto-Damlnlon Btmk 
ari 50 Toranto-MunidDanty 
art 50 TronaattoUlfllUes 
ClrilOO Troraulla UtllHie* 

*20 Transamada Ploallnn 
575 Ti umunmu a PlpelJne* 
STO TronKanodo Plpailnef 
SWO Tianmi n odB Pipelines 
art so Ttimecara. 

OriM Union Carbkto Canodn 
cnSM Union Carbide Canada 
OriM Vcmcuuver 
*58 wtantaepOtv 
*ffl wmmpeoaiy 
SM WbeitoeeCKv 
art 50 WtonlneoCBy 
art 40 XerovCwada 


15ft 87 Apr 125ft 1161 

11 T70C1 Uift 1467 
17ft 87 Nov 114ft 1*24 

7ft IB Jan B9ft 1211 MM 838 
77 88 Mar TOft 14 J9 1637 
14X 88 See 10$ 1468 

14ft 89 Aar 106ft 1*24 
16ft 89 Aug 107 1238 

15X89 Dec ID6X IU2 
13 VO Nov 1D1X 7290 

12 VSJul 98ft 1127 

Nft 125312951214 
99ft 1207 1286 

81ft till 1295 1144 
104ft 1*82 l&JQ 

Mft HM 1M0 

84 Apr KBIT IU4 1366 
86 May 97 1231 


12% V4 Feb 
12 VJJw 
95 Nov 


IM 

l&M 

1395 

1435 

IUI 

Till 


89 560 


m 88 Apr 95ft 1134 1U6 955 
lift 89 Feb «8% 1247 1190 

10ft 89 MV I07X 830 999 

lift VB Mar 94ft 1768 1197 

IIHkVlDra 97 1151 1131 

T7XV2JOT 99ft 17JU 1741 

9 VZFen 16ft 1198 1232 1040 

10 ViMer 91 1144 IIJ7 1099 


12X88 Nov *9% 1283 
12X89 Jul IBlX 1167 
HXISJan 99X 11.95 
1716 86 Dec IB 136/ 
8X84 Sep 97 11JH 
16X88NPV 109ft 127/ 
14 89 MOT 112% 1144 
lift 89 NOV nx 1205 
10X VOMor 9SX 1L93 
10X V2 Mar 93 1230 

11 V2 Alia llix 1253 
12X89 Od 111% 1232 
7 VI May njft *W 
M VI Alia IDS 1296 

a^SBrKssi 

1 7ft 88 Nov lllft 13.11 
16X89 Aor 109 1390 

15X88 JOn 104 1366 

17ft 86 Dec TO 1332 
12ft VI Nov TO 12 


IB 84 Jun 
15ft 86 Jim 
12ft 88 Aar 
12ft 89 Aar 

B*W 

IJxSSS 

5^ 87 Jon 
17X8800 
16 
16 



1292 

1246 

1131 

1*63 

942 

MM 

1*25 

1116 

1133 

1166 

KU8 

1259 

*17 

1131 

1*0 

1150 

1SJ0 

1537 

U.U 

1*51 


Mlft 1261 

a gs 

.... 3 B 

89 Dec »4ft 1454 
82 Mar 10415 74/5 


D 890C7 100ft 1379 _ 


.9X86 MOV 94ft 1553 1600 KU2 


16 89 Jan 104ft 1*32 
O 84 Apr WJft 1252 

17 84 Oct TBtX 1214 

r 4 87 Mar tjw hjm 

15X88JUO 104ft 1177 
12X81 Sea 1BIX 72C 
12 81 Sea Wl 1157 


1531 

060 

1449 

842 

044 

U 

1148 


DENMARK 


>20 Denmark 
S2B Danmark 
H100 Denmark 
tin Denmark X/w 
175 Dtnrnork 
enSlOO Dramar* 

IM Denmark 
>100 Denmark 
ecu 75 Denmark 
$im Denmark 

>100 Denmark 
>100 Denmark 
STO Denmark 
» 3M00 Oenmork 
Stoo Denmark 
S2M Demnark 
nkr2S> Denmark 
SWO Denmark 
v Uqoo Denmark 
SIOO Dnrrmork 
SIS Gartobero-Tubera 
>15 Copenhagen CHv 
ITS Cnpenfaem City 
125 C uB i to i uuw iatT 
>15 CaaenboeeaCnurTtvAvi 
>15 CwMlesen Telapliane 
in CooerVmBenTeknlJone 

112 Mgrtao u eBm* Denmark 
>a Martna w e Bonk Denmark 
IM Mortgage Bonk Denmark 

113 PrTvMbonkan 
ecu 40 Frhmnxmai 


4 85 Jim 99X 9/3 »JB 60S 
9X85 Dec **ft *40 9.W 930 
7ft 87 Sep 90 12/7 I4J4 831 
13ft 88 Age 1D4X 1230 1331 

TIN 8* APT 17 11.73 1141 

13 8*OC1 101ft 1249 _ 7281 

7ft VO Jen 17 11.121245 163 


llXVDJun TTft 12/1 
10X81 jUar I04X 965 
12 81 Mar 98ft 1236 
U 81 May KB 1249 
14 81 JW 105ft 11*6 


OX8H_ 
6X82 Jan 
U 82 Jon 
12X82 Feb 
9ft TJ Mar 
llft82Apr 


IX83MOV 104« 73* 
13X8} Dec I Vn 1251 


IX 86 Apr 
• 8500 
6 85 NOV 
6ft 17 Aar 
7X87 Feb 
IftWFeb 
6X86 Apr 
6X8* Jan 
7ft 81 Jen 
13 VI J®1 
14ft 81 Apr 
11% VI DU 


IM, 

1024 
1211 
1275 
1337 
1290 
*98 
1294 
1345 
964 
1247 
7JB 

... 72/4 

91% W66 1141 841 
99% 10JS TOJ3 947 
q 938 946 *17 
91V: 1147 1549 7.70 
94 1U4I2JJ *76 
W* KL71 1069 865 
9*ft 1851 1345 447 
94% lLltn.17 6/9 
17 1B6II2U 1/3 


102ft 1256 
96X 737 
IDBft 7314 
WX 1291 
91ft 940 
95U 1256 


101 1277 

vn 1132 
WSX 10109 


1287 

Mil 

1061 


FINLAND 


STO Finland 
S75 Finland 
y 15800 Finland 
SWO Finland 
IM Ffnfand 
nfcrTOO Finland 
ft 70 Finland 
V 15000 FWand 
*50 Finland 
>n Finland 
150 En*»Gutnlt 
SM FbmlitiEmwriCridli 
III FiimWi Exaar! Cndlt 
*50 FtantAEraertCradit 
sn FtanWi Ekpart Crodlt 
STO Finnish Exsorl Cr X/w 
>15 FtanWi Miirddpa Loan 
>15 FtonUb Munictoa Lwm 
>15 Helstnfciciry 
578 tad Mtie Bonk Finland 
>73 indusSri Fund-Fbikind 
>15 ririorfoooe Bank Finkma 
II) Morieaot Bank Finland 
SIS PekemaOy 


9ft 86 Mar 
15% 87 Apt 


1061 

1132 


Bk87Jim 702ft TJB 
lift 80 Jon 99% TUV 


lift 85 Sec 
11X89 Jun 
lift 89 Od 
8X89 Nov 
9X8200 
12% 81 Nov 
lift VOMor 
lOftTBJui 
13X86 Apr 
UX86D9C 


wax run 

105 943 _ 

100ft 1131 1137 11/4 
104ft 731 841 

17 1131 1101 HU* 

9Pv 12/5 TZ/T 

f|X 1261 1149 

no law ms 

in 1263 1361 

IDS 1130 1*05 


17X87 Nov inn 17 50 1244 

72X8* NOV 100X 72 M 72/6 
8%87Mdr 95 1131 UK) 8/1 

IX 89 FM qftlUS 1197 967 
IX 86 Non 97ft KU2 11.15 847 
I 87 Dec 91 12JHU37 *79 

IX 87 Sep W 11.101339 838 
8ft 84 Fra 91ft K131 1*30 *13 
11X89 Nov TO 1131 1I3B 1135 
IX 86 Dec 9*ft 1141 1167 947 

FRANCE 

HUO Aereaari De Pmls 
SM AaullofneSnaa 
8 SOB BanaueFroTcCamE/t 
1299 Bonave Franc Corn Eri 
IM Banoue Franc Corn Ext 
IM Bcnetue Franc Cora Eri 
S20 Boime Franc Com Eel „ _ 

VS K»«TOH >5 8»Ntar TO IUI 

SM Banoue indawtr 15X89Auo w 12/0 

M 81 Aug tOft mi 

lift 82 Sap 95ft IZ55 
nftirod to aw 

14'* VO May nsv. 1277 

Ufttijcm 103ft 1731 

17 VI Jun 97ft 126* 

11% VI jg| “ - 

15XV2Juo 

nxvsiea 

11X87 Dec 


*.W 


Burwue Inoojuer 
|iiw Banoue Indouiez 
SUD BwawNaiim Paris 
>259 Bonoue Motional Paris 
■JU Banoue Nailena Paris 
cnS40 Banoue National Purls 
|"*5 Cota. AJUtE ou Coed 
*TO Cotn eCentr Conn Eco 

*2 MueCew Coop Era 
*TO Cat toe Centr Coop Eco 
>W Cuttae Franc Moneres 
J5 Cubse Net Autoroutes 
im Caine Not AuiMMles 

tesssasss 

iCntoee wei Croc Ague 


>3% 87 Auo HB 1144 KIM 1274 
W Si Nov 99X 1*26 IUI 1043 
Uft84Mar 1BJX 047 t/46 

16 86 Nov W4% 11/5 ISJM 
14ft 17 Jun TO 1135 HM 

lift 8t Mav mx im no 

“ «3ft 11.11 1115 9«) 

138* 

1349 


1U1 

un 

048 

1334 

004 

1211 

1*74 

1140 



IB/X 1*17 

n) 1357 

100% 7239 72511259 

9T6 1249 12/5 72J< 

>235 94 Nov TOUT I2S0 1217 
9 84 Mav a 1046 9.11 

9% VI sen 91 1136 129 KL14 

>2X85 May HUM 12/B 7264 

75%V4Am 111% 7124 117) 

15XV7MCT 112% lUmURIi 
,9ftV7Mar 81 1167 72161*16 


1TH. vajqn «6 037 

lJXVIMay KD% 126/ 
lift V7 Aar 9>ft 7250 
9%8SAor TO JU7 
ITXVIJw IIP 12/7 
2 VJ Feb H4% lire 
lixvsjut loix nua 


I 86 Mar 
♦tv** Jun 
8X8*00 
17ft 89 DO 

nxvi Jun 
T2XV2 Jan 
9 81 May 
mis Dae 

lift VJ JUS 

DhVSte 
1X8600 

8X86MB- 

7ft 87 Jl/ 

>5? VOFeb 100ft 1234 
iraviMa* n% re/? 


1132 
724) 
7204 
925 
12*2 
1 247 

1141 

113* IUS *25 
Mft nua 9/4 
723 1*0 >4 


ID I1J7 
IB 1251 
110% 1*20 
lift 7249 
ID HUJ 
97X 1226 
WJft 1247 
W4X 1251 

96ft 1LZ2 

97 1271 121/ 941 

88ft 1130 7*77 IP 
13/4 
1164 


12M 

mu 

1133 

7065 

1160 

I21S 

mm 

are 

947 


1247 


..I Efecfridte France 
1700 EtoctrldM Fronar 
«t Eledfldte Fronen 
SM Etectrictta France 
Sfto Ciectrictti France 
>125 Ekctridie Fronee 
S« Etoctrtdto Franca 
sm Eledrlcite Franc X/w 
in Etodridle Franca 
*W0 Eledridla France 
V200BO Ekctridie France 
SUO EH Aquitaine 
860 Erap [trance! 

SM FroratoePetiwes 
. > DO Gar De France 
•***£ GaiDeFtanro 

*J5 Of? De France 
Jg LAneCaanefl 
SB La Nickel 
>75 MKheiin 
>a Mtotori In 
St2S MldiellD 
>60 MIOMflilO/S 
>35 PecNnev 

122 Feneeet 
kits Peugeot-CRrora 
If TO Pant JkJHaVtoun 
*40 Poo authoring* 

7A » TrtwPorl * 

H300 Penoult 
HIM RhonaJtooitnt 
HIM SPita-CgbomPtMom, 


72% 82 jd 100% 12/1 

lift V3 Fab W7 1031 

><53**00 M5 «J» HUB 

misjon ic i04» m« 

,R?2f9* 94ft 1*7* 11/7 *41 
mviFeo nt* 877 tan 

10ft V4 Dec U7% 951 to. io 

toUWAor 180ft 239 Kit 

TO 86 Apr n 1044 *37 

TO 84 May 97 11331249 *H 


TO 87 Jun 
>7XT7 Oct 
U 88 Jan 


U 


» Jul 


l/XWApr 
11% VO Mav 
lift WJ May 
6ft 85 JW! 
12 8BNau 
9X85 NOV 
4 85 Od 

lift 84 Jan 


1*47 
lEft 1150 
Wl TUB 
*TO irj» 

TOX 7215 
ftft 1279 
**% 1237 
97 JJl 
96X 1221 
TO 937 
99 Is 7J7 444 
U1% 1141 1233 


176 

1264 

1247 

1*47 

0/7 

116* 

1U0 

3J9 

1215 

935 


12 T75fp l« WJB 7221 
ft 87 Not ltOft TUHUtUP 
12%83Mav toft 1U4 12/4 

15ft 8* APT TO 13/7 11.99 IUI 
9 86 MOV II t**2 tttt 9, M 
9X 86MBT toftHLHWq *j* 
9ft 88 Feb Itft 12601226 U 
H 8/ Aug STO 11*1 1353 1143 
9% 88 Sep 91 056 1236 WU 

* ft D«C 99% «48 IBM *47 
14 VO AUO ID 1213 1114 1159 
9X87 Feb 97% 11.1711/6 *97 
" ‘ « 72461609 U3 

17 H57 07? H34 

WT» W30 ren W53 

*9- 1334 942 

*lft 1237 11M 753 
89ft lire >650 821 
toft 11 >7 ffB 


7ft 87 Auo 
9 V7NBV 
WftvZAar 
•X85 Jul 
7% 87 MW 
7ft 87 /or 
9X86MCV 


Ann 5ucsrtry 


MtmU* ftva 
Mot Prfot MM LBeCurr 


IM SdrDevetopReotonal 
SM Sad Nat Cheailns Far 
S30 Sncf NotCBembis Per 
130 5nd No) dm Ins For 
S75 Sncf NdOwralns Far 
SM Sncf Not Oiarotai Far 


lift V2 Apr »6 KW 1117 7/62 
12X85 Mav VOX 946 1234 

6ft 15 jun 99% 951 9J6 &5S 
lift 89 Nnv TOft 1131 luc- 
re VI F* Wlft 1260 04 7281 
I V2Dec 81 11/1 1286 W23 



14% 19 Aug H5X 1241 
12ft 89 Sen 104 1222 


SKgSSK .... .. 

Dauhdie Bank lux wrw 6% V] wav 104 548 

Dartsefte Bank Lux X/n MtlMnv 74 1256 



II 3 Apr 
7X80 Fra 
6X89 Jill 
I *3 Feb 
MVOAvg 
f 15 Dec 
7XVBMOT 
8 VI Dec 
7% 87640V 
lift vo Dec 
MftVlJan 


*4 7267 

«ft W.94I2JS IM 
81 1279 833 

78% 12/9 1037 

88ft 930 737 

99 10/5 H/4 *49 

54 ft 120, 9.17 

76X 7251 Wb42 

72 1230 *42 

77 1261 1224 

H6X 731 1*19 


SW 

>15 Iceland 
SB Iceland 
SM Iceland 


ICELAND 

SX06JWI 

I 87 Feb 

7 87 Feb 
72% *2 Dec 

IRELAND 


to 11/8 11/0 *73 
71ft 1231 1330 165 
73ft TIM 1*36 163 
79 1293 1278 1241 


IS Ireland 
IM Ireland 
ecu 50 [refund 


IX 87 Feb 
lift V4 Apr 
10% VS Jon 


to I2J0U24 738 
97X IUI 1130 

H3ft 767 9J8 


ITALY 


>50 Cnraorrio Dl Crmflta 
>» ErlEnteNin Idrocnr 
SH Eni Enta NatWroeur 
>30 Enl Ente Naz idrocor 
SB Enl EnfeNai ktrncar 
S25 FervnvleDeHa Stain 
SU Olivetti Inti [lux] 

SM Stfe Soc Fki Taktcomm 
S10 Turin CBv 



II 1046 1250 *52 
*2 1037 1141 747 

44 038 1555 *16 

74ft *77 1*64 7.16 
*i *74 10/7 7.18 
*4ft U31 1121 947 
78% 1232 1227 747 
TTft 1275 1122 739 
93ft 106* IUI *63 


JAPAN 


SIM Bank 01 Tokyo Curocoa 
s 05 Bank 01 Tebva Curocoa 
sm Bonk at Tokyo Eurncno 
eai/0 Bank Of Tokyo C»ocoa 
SWO Bank Of Tokyo Curacao 
ecu 50 Bank Of Tokyo Curacao 
SWO Bonk Of Tokyo Curacao 
art 75 Bank Of Tokyo Curacao 
SH Costa ConwtfarWAr 


Ub 87 Sen 
II VO Apr 
lift VO D*C 
WftViFra 
Oft VI Jim 


I04ft 7241 
fSft 1225 
98ft 1222 
106 9/9 

104ft 7151 


IBXVINPV 104% 9 JO 
124* V2 Job 99% 1277 
WftVTMdr 92ft 1231 
5ft 8* Mar 128ft 1.1] 


1238 

1152 

124* 

1*26 

1244 

1*31 

rm 

1162 

457 


HIGHEST YIELDS- 


to Average Life Below 5 Years 


>20 Cotambfa 

S15 Ward Foodi 07s Coptta 

SCO Amerada Kelt X/w 

*35 Brazil 

>15 Vgnezuetoo Tetophcm 
SSS Venezuela 
>25 Klehmart Bemaa Leas 
>30 Howdsn Alex FTrun X/w 
>25 CoprahaoMCW 
ff HX) Charter ConsaM O/s 
oriM intiHarvesierCredM 
HIM Ea Eura Coal * Steel 
if too Rtwn*-Poulenc 
hwo ctment* Lotore* 


i% 81 Fra 
5X81 NOV 
6X87 Jul 
1% 87 D*C 
1% 87 Dec 
BXV20cf 
8% 87 May 
9ft VI Jon 

TOWM 

7ft 87 Apr 
7ft 8* Jul 


13ft 1566 2041 *48 
72ft M/4 1U0 753 
Bft 13/8 1737 731 
89ft 11V1W 922 
■ 1339 1*45 938 

79 1338 1131 1148 

92ft 1243 15JS *92 
84 06515981137 

taft 1137 1SJ9 7.W 
*7 1/39 1734 9.15 

94 7*39 1735 1037 

tlft 1237 17.11 7J2 
8*ft 7138 1650 *3| 
88ft 1339 1*77 147 


HIGHEST YDELDS- 


to Average life Above 5 Years 


ISO Dome Petroleum 
SB ElbEurob limn Bonk 
SM Mocmfltan Bipedal 
>M Hud6BRS8kiv 
SM MPcmnianaHMdel 
IM Mexico 

125 CMtsondatoriBalliufst 
>75 Hew Bnmmrick Elecrrf 
S 725 Mfcfieiin 
art 50 Canadian Utilities 
113 Roi hechl Id I nv He S 1 n 
arias npyai Batik oi conodo 
cntCO Rayed Bank Of CotaOd 
ITS ElbEuraa Invest Bonk 


76 14J0HM12M 

79 1236 1435 1123 

80 1366 1*12 1735 

Hft 1543 1485 1743 
80 11/9 111* 1156 

82 1219 1349 1067 

lift 1297 1234 tlJM 
IS 126* 1357 1167 

„ 54ft UJ1 1152 1143 

17 V6Dec 113ft 14M M42 HH 
14ft VO AUfl INft U22 1322 73J8 
t V2Ftb Nft 11*133210* 
10 V4Mov 91 1164114710.99 

12 V> Jul 100ft 11451144179* 


10 86 Jul 
8ftV*DeC 
9 82 Feb 
U V* Feb 
9% VI Mur 
Pi Vl Dec 

9 V20d 
9XV4M0T 

10 94 Aug 


HIGHEST CURRENT YIELDS— 


SIOO EBi Etevp Invaxl Bank 

SITS Mutco 

873 PamaePefrotoo s Mtaifc 
SIM CKtoi Sarvlce Q/t 
>M Gulf State* O/s Flnan 
17b Northern Indiana Publ ■ 
S75 TroracanadoPtaedpei 

>75 Onto Edison Floor** 

S75 Ohio Edtioo Finance 
OriM Gvwtbt Malm Acamf 
aaM Hodcnol Fkurclern 
art 60 HudsaraBov 
art 60 Canadian Pbdflc 
ortM Quebec Province 


15ft VJ id 10 1216 

lift V7 Jut 10* U67 

miWNOv IMft U» 


17 88 5«P 
17ft 88 Od 
17X 8800 
17X8100 
17ft 8100 
13% 17 Jill 

18 87 Oct 


132 MM 
TOW 1536 
USX 15/7 
107 1495 

USX 1517 
W4ft 1666 
107 1*78 


17% 87 Mar Wl 1741 
U 87 NOV lOCft 15/0 
T7X87NOV TO 15J7 
U 87 DCf TOft 1667 


5*00 

1697 

M23 

76/7 

.TOO 

1663 

1659 

1655 

1451 

17/5 

1757 

1732 

1*90 

1*90 


SM Casio Computer X/w 
SM Omu Electric Power 
SM □woakuEledr Power 
>25 Curoeoo Tokyo Hotahta 
SW DaHrtii Koneva Bank 
>15 EkPUri-lrtMri Bank 
STO Full Hill Finance Hk 
SM FallicuraUdW/w 


SM Fuf Brora LM x/w 
S5B Honm»G«mil 


ISIS 

SM Hotair! ku l . . 

S3 SSSSSSSSP" 


SB 1SSK53SSSK; 

liSSSSB 


5ft 89 Mar lift 1200 731 

13% VI Aug B* 1237 1276 

TJX 8f Aug 704 1749 12U 

8ft 88 Dec «ft 1231 IUI IM 

12%V*Qd *TO 1233 tUI 

13% VI Jun TO 1131 1238 

Wft VO May 95 1223 IUS 

7% 89 May 91ft 1038 IS 

7X89 Mar 83X 1289 935 

9% 89 NOV 100% 9.16 923 

9% 89 Nov Hft 1264 RL45 

lift V8 Mar 97 >734 1250 1146 

17ft 89 Nov WO 1201 lire 

13ft WOd HH 1155 1225 

701* 88 Apr 9, 1167 11.10 

lift 19 Mar 99% 1IJ4 11M 

11% 89 Jun 107ft 942 1047 

12ft 89 OCI 102 1222 1262 

11X81 Nov 19 T247 11,99 

lift VS Dec 101ft 1136 1129 11/5 



875 JopanAJrilnts 
sto Japan Akl toes 
SIM Japan ANUhic 
S54 Jaaroi Airlines 
S42 JapanAIrflnes 
SH Janm Develop Bank 
>75 Japan Dcveko Bmft 
SM Japan Synbi Rueoe w/w 
>M JananSyntti RubbeX/w 
150 JlrtCuCnLMW/w 
SM JtncoCoLMX/w 
STO Kama) Electric Power 
SM KorobelndatfrrW/iv 
SM KarnOa mmtnr X/w 
SIM Kvawa Finance ink) 

IM Kyuthu Oeriric Pouar 
I TO Long-Term CrodH Bank 
1125 Lana-Term Credit Bank 
art 7, LaQs-Term Credf! Bank 
tn Lona-Tem Credit Bank 
sto Loop-Term Croat! Bank 
SWO Lone-Term CrecSt Bank 
IM Lane-Term Credit Bunk 
S12S Long-Term Credit Sm* 
STO Lane-Term CredB Bank 
STO Long-Term Crodlt Bonk 
SUM MarubemCerp 
sioo MtaraeaCaW/w 
STO MtoebeaCeX/w 
SH Mlliubtaei OwnicW/w 
SM MBsubltM ChamlcX/w 
sm MttiubWii Corn ft ny 
sm MHsubHMCargx/w 
SIM MMwbHNCerB 
SMO MUsubtttUCorp 
SUM MltNblUlCarg 
SWO MttsuMMCarg 

SW MRmbteM Cora 

SM MMubtaM Estate 
SIOO MHiabMU FkHhKIx/w 
STO AHtmisM Finance 
SM MttMMrtUGasW/w 
SM MttHbubtGafX/w 
sm MitwbMd Metal wr* 
SJO MlftubKM Metal X/w 
SIOO MltSDbWllMetalW/W 

sm MHsranM Metal xfw 
S 12 MUmWiM Raron 
SM MKiut Enakwerto y»w 
SM MttwIEtigftMsrtoXA* 

SH MOUf EnpfneertnW/Vf 
SM MRmi Cnofneerln X/w 
SS8 MRxit Finance Aria 
SIM Mrieul Flramce Aria 
sin MnedFIneneeAsta 
siH Mrint Tras Fin inki 
STO Mltiul Trvrt Fla IIXI 
STO Nlnnaa Crtdll Bank 
SJO M open Crecst Bank 
sm Ntoeon CndK Bank 
STM NlgpanCrodUBaak 
STO NtoaenCndH8ta* 
cuM Nianon CrodH Bank 
sm rflggen Credit Bank 
sm Nienen Credit Bank 
STO Nlnaan Kakdd KObwIDk 
ISO Nippon Mining W/w 
SM Nippon Mining X/w 
(SB NlMigitasi 
SISb Nippon sum Coro 
150 Nippon Teie a ro Tfitnn 
SM Nippon Teteero Tricpn 
IS* Nippon Teieara Taienn 
S m Ntonea Teie ira Teltnn 
sm Ni ppon Teieorn Trteroi 
im WPMaVmnKobuiu 
STO Mtoha IwalCaroW/w 
sto Mtodiu leal earn x/w 
sm NiMtwiMdCaw 
two Nomura Europe 
SMO Namur* SeceritlB w/w 
STO Hamara Secortnet X/w 

SM Owtk i vndiKlumt v*/w 

SM OVtaymM-GroniX/ar 
130 Omren Totem E>* W/w 
SM Omron Tctota El* X/w 
S30 Oneda Cement Co W/W 
>30 Onodo Centra I Co X/w 


WftVOFeb 9* 12*9 

UftTIJut WSft 1232 
l5 VI Dec 97 1266 

19XV2JB1 BX 173* 
WftVSJon 97 1231 

11 87 Feb 139 7/8 

I] 87 Feb 90 1221 

7ft 89 May 95 *to 

7ft 89 Mot IS 1231 
13X89 Aug ltBft 1231 
WXVJFra 92ft 120 
11 V3JUB to 1137 1157 11/6 
1711 V/ May 10* 1139 1139 

LA* Vi Aug HI'/ 1144 123* 

<1 87 NOW 9SVl 1168 11.73 1152 
10ft V| Apr n 1155 7277 1169 


Tift 933 
MX rejj 
W9 146 
85% 1320 
TO 12/S 
90ft 925 

lift na 


15ft 87 Fra 107 11.11 
lTXtfOa raift 1136 
7X89 MOV 
7X89 May 
I 88 Dec 
I 81 Dec 

TTft 89 Od 
S%89Frt 

*%8fFeb . ... 
72ft VOtriay 1D0X 1266 
11% 88 JM U7 1257 
lift 89 APT 9* 1229 

15% 89 Alia TO 112* 
11* TO Jon *5ft 1304 
11 VQMv 95X 1211 

n vomot nan hj* 

lOXVOJun 94 173* 

I7ft VO Sto 100ft 1232 
UftVlJof TO 12/B 
lift VI Nov 101% 1X61 
17 TJDrt 99% 7212 
lift VI Dec 95ft 1237 
4% 89 Fro 112 2M 
6% 89 Feb M IKf 
II 87 Jan 151ft 1217 


II 87 Jan 
5X88 Nov 
5X81 Nbv 
13% 19 Jut 
WftVBMOV 


97 T2JS 
Tift 745 
87ft 11.91 
104% 114* 

.. . ... .. «ft 1169 
CTftVlMer HHX 1143 
reft VJ F*b U 5747 

tOta VS Feb q 11JS 

71X81 Mar 99 121* 

13ft 89 No* TOft 1242 
lift VOJpn 9* 12/2 

6X89 Mar ft UB 

6ft 89 Mar SIX 7121 
5% 89 Feb IM *35 

JXVTFeb tl 1211 

7ft 89 NUv toft *2* 

7% 89 Nov 82 1325 

9 89 Apr to UJD 

MM 87 Dec 1’J 664 

Wft 87 Dec 95 1215 

7X8iOa 91 HI 

7X8100 16 1349 

lift 89 OrC 97ft 1Z1* 

17% vg Ana *9 1231 

rax 82 Fen 97 1292 

12ft 19 NOW M2% 1215 

12 TIFra 98 . 12/| 

lift 89 Jl/I 104% ns 

15% 89 AuO TOft 1264 

H V0MOV 95 1236 

n voAae 99 T222 

IttoVONn 97X 1241 

It 81 May 185% *41 931 MAS 

rawvzjra to ass sm 

itxviFra *4% tzra ti.91 

U*V15ap 787ft I2M I2J0 

•X89MOT 766 *66 417 

6X89 .Mar S3 123* *13 

i2ft8*oa wt% an nsi 

10ft V2 Fra 97 1227 11/1 

Sft 87 Mar 9* T0J7 Lm 

rewvgjan m hjb n/B isjb 


1469 

7247 

*29 

9.14 

5J7 

938 

1250 

641 

IB 

1228 

11*9 

11.9* 

1631 

1230 

11/9 

11,94 

11/6 

1264 

Tito 

12/5 

1209 

1291 

SM 

Wl 

72* 

1U4 

*15 

*97 

1271 

11.11 

7217 

TI.I7 

11/7 

nil 

126* 

1145 

7.X 

1.66 

369 

7.18 

7.99 

*60 

1023 

*26 

11.11 

763 

lil 

1739 

1225 

1263 

1259 

1224 

DJI 


IM 

7217 

Dll 


llftVOFra 9* 1166 

rexviaun U3% 11.93 
WWV2FW tlft HUB 
lift 8* Al/O 112 1Z4I 
4ft 89 FIO a U62 


S 25 Orient Leaelia rcprt) 
*« ReeewnlBCWTw 


if Renown Inc X/w 
IM RtcahCaLMX/w 
SH Suttoraa Inti Ihkt 
IS Sameo list Finance Hk 
SB Sanveg Inti Ftnaice Hk 
SM Sonwa iidl Finenc* Hk 

SM Seppora Brawertei 

*s Setae Titwgprtgf w/w 
*50 Jtano Trcraportai Xft* 
"Pros Mor X/w 
*50 setru S tares Dec 
>* SNMaE War Power 
SB ftanUamaCansiracTr/w 


4ft 8* Fra 
rex vs apt 

rex vi Dee 

6% 8V NO* 
*%SSNOe 
7X89 AW 
7X8* APT 

*W8tAPr 
•W 89 APT 
7ft 89 Apr 
7ft 81 AW 
9ft 8* Jul 
4 81Mb 
4 81 Fefi 
5%89M0r 
lift ve Mur 
11X89 nee 
rex vc sob 
lllb VI Are 
13ft89J|6 
6X89 net 
HI 89 Trior 
71 87 MV 
II 87 OK 
lift vb job 
n>8*APr 


Security 


Mat 


150 Takr* Melropafl* 

>59 Tokyo Sanyo Eted W/w 
SM TakvoSanva Etaet Jt/w 
SM Tarav industries W/w 


(30 Tcvo Engtneerina W/w 
(30 ToyaEralneerioeX/i» 
(100 YamalcM Inti 
>100 VasudaTnfltRnenca 


72X86 Jut Mlft 1123 
lift 87 Jun 2* 2547 

lift 87 Jun 19 1L97 

10% 87 Mar W 329 
18% 87 frier 9* 1267 

6ft 89 Mar 136 JJ7 
4ft 89 MOT ifft 1274 
tniVlDK ti OJ7 
17X89 Aar 99ft rlQ 

LUXEMBOURG 


1147 

4JD 

1142 

9/8 

I860 

31* 

7.9L 

1227 

72*4 


834 BbFBrak Hffl V9/W 
134 BM-Bank inti X/w 
ecu aC SndSacNatCred inv 


TViVOMay 101 725 

7ft VB May 79ft 1328 
WftViMoy WJft U26 


7/3 

9/3 

1851 


MEXICO 


_ >60 Manta o 
>38 Mexico 
1175 Marks 
120 Camteian Fed Electric 
sto CoaUBon Fed Electric 
ortM Nackmol Ftoanetaru 
sto PeirowPetroieH Mexto 
IM Pimex Prtroteo* Mexta 
>20 FemnFefroieosMaxtc 
1135 Pemex Petroteos Mexta 


DiVHor 14 1270 7215 9JM 

P* 81 Dec K 1249114*7067 
lift V7 Jul VH 1*67 1*97 

I 87 Fab 93 1244 1241 860 
13 87 Nov 97 14J6 1241 

17X87 MOT nr 17.11 1757 

17ft 86 Nov TOft D9* 1*7) 

lift 17 Apr 115 1357 UJ1 

I ft 87 Sen 93ft 1U7 1324 949 
lift 88 Jut 94 1345 MU 1223 

MISCELLANEOUS 


*30 Bauxites Dr Guinea 
STS Devatoo Bk UneePura 

ecu to Meoal Finance . 

>28 Singapore 7X87 Nov 

SH TranatataaFInance 4X83 Jut 

127 Transalpine Finance eft 85 Oct 

NETHERLANDS 


I VO Dec SM 7219 15JT tJJ 
UftWAue in HM UN 

WXVSAnr 99ft 1820 1218 

91 1L94 1423 833 

Tift 1U1 1123 *35 
97 TUB JL9B *70 


BIX W95 
*4 124* 

99 12J3 

1S4 *31 44* 

P% 1346 769 

1« 2to *57 

lift 1290 *17 

Hft 827 741 

80ft 13.12 82] 

729 J] S41 

16ft 1115 867 

96X 1224 RM 942 
N 1123 7.14 

79ft U» T& 

86% ltu* *2 

96 72/3 I1JS 

97ft 1264 045 

UB 122J TUB 

W* 125112/7 1127 


IB SwnramaCondfuCX/w TftlVApr 
*m SumHomgCarPBratkn MXV2JWrr 


wftVBJun 


SumitarasCarparaitra mVMir 

^ fmttoma F jnat ceAsic I5ft89jgi 

sm mtnttsnH name Aita 

juroHrettogtaiPTOAsla 
SIM SumBoma Ftnance asu 
} 60 Swndtome Heavy In Wfw 
5/0 Surattorno Heavy in x/w 
>38 Suroflomo Reottv W/w 
sm SumHonio Trust Fin Hk 

*J5 I^tSbeKnanaHfs 

SM TgtHke Electric Power 
*WB Tokai Alta Ltd 
sn Tokyo EtetJfk Co ftfw 

178 Toll TO Electric Ca X/w 
1 TO To*vo E tottrie Power 


1251 
*7 1147 

nn ion 

97 TUI 
ft 1230 
Kft 032 

13ft JS 
a 1L76 
N 1154 
10 7281 

54X 1121 


U.H 

7.90 

M 

1124 

1126 

H5I 

544 


12% 81 MOT WV 1255 
ilXV7Mar 97 1241 

6% 89 Mar 37. 1043 
4% 89 Mar rft TUT 


1IJ0 
1627 
H.« 
72 66 

w 


8 8* Dec 
178k VJ F»b 
» vs Dec 
QX89MB 
in. VI Fra 

4Vi89Mpr 
FltoWf 
>SX 0Jut 


102 7 47 
9IX 1288 
toft 1225 
m 1239 
•9 12/8 
91ft *.« 
Cl 1249 
TO Jt.V 


Mr. 

re/r 

8.90 

14? 

1274 


)M Aegon 
s« AmevNv 
8200 Amro Bank 
SIS AmraBank 
140 Dim Dutch State Minei 
SH Dim Datch State MM9S 
SiH Dim Dufoi State Miras 
SM EimlaHv 
120 GW-Bracadif Hitt 
stoo Holland Alrttnas Fin 

*M NederiandMGguaW 


lift VI FM 
• VAuo 


99ft I1JI 1142 
- ...... 94ft 1*73 1259 1/7 

U 89 PtOV I BIX 7292 1271 

lMVOAug 92ft 1273 lug 
4X87 Jua 93 1LM 1214 837 
8X8IAII0 93 1126 1141 9/1 

lift VI Mar 95ft 1248 1151 

15ft 87 Mav TO 1Z45 16/2 

1% 86 Jut *1 1*11 IUI 8/2 


Sto Hedw in Kl e eSSuriw 

875 Nederianani GaamM 
SMO PMknGtoetlairrew/w 
J « Phggc taritotyxro r 

rxwNxwrtra HW WHiro 

IM Shell Inti Ffnonct 
STO Shell InH Finance 
8380 Stwtt Intt Finance 
*501 Snea lnll Fkiance 
SM TlmtmBg Finance 
SIH Unilever Nv 
SIOO Unilever Hv 


rax vi Mo» 

I ox vo Aar 
ltuvooct 
11% VI Mar 
*% VOJuf 
SXVOJul 

II Vi Mar 
8 8* Dec 
7ft 87 Jm 
7% 87 Mar 
1% 80 Feb 
ISft VOMor 
*% 87 Jut 

n* vsjui 


99 ns 
94ft tin 
97 1148 

97 1141 

TO 629 
71% 1266 
*3 1276 

95ft 1142 1U1 SJt 
93 1241 1125 84* 

97% 11/7 837 

17 1142 9/8 

94ft 1243 IL51 
95% 11/0 9/6 

94% 1122 1141 1021 


1237 

1U6 

tun 

1160 

663 

857 

1LB3 


NEW ZEALAND 


5U15JUJ 
6ft 84 Mar 
1% 8* Dec 


>20 NewZeotand 
>15 HewZaataad 
>100 NawZealnnd 
y 15000 New Zenland 
I HO New Zealand 
rUOM New Zealand 

SM Bank Of New Zealand 
S30 Dey Fin New Zaatand 
Sto Nx Forest Products 
$25 Nr Forest Products 
SM OttstwreMIntoa 

NORWAY 


0 960 962 541 

97 949 *42 *20 

96 NL92 859 

IX 87 D*C 106ft *49 841 

10X0 Apr 97% 11/9 «4J 

7%S9SeP lOZft *M 7/6 

HXtoMar q 7243 1233 

8X85 Jun toft 1051 I0L9S 862 

9 86 Mar ttft 18.70 9.16 

I3X 81 Nov IMft 12J0 1269 

IX 85 Dec toft 10/0 838 


>15 BerocnCItr 
IIS B ar reoa nn l 
SM Den Norike CredBbank 
IM DenNarekeCrailHtxnk 
nkrm Ekraariftaara 
nkrHO Ekrauriffnani 
IM EkseariBnent 
>50 Eboartttoons 
Sto EkMcrt tl ncw 
sioo EferaarfflnaniX/w 
nkr2M Ekepariflnm 
SM Ekspartttoeni 
im Etnxnflrum 
sm Ekspertti n oai 
nkr3M E ksu eri tl miH 
nkrm HoroasHygoteklorMln 
S2B Noran Karenunatbank 
SB Horges Kommaanibaak 
IM NDraesKami»nall»ik 
>75 Neraei Kommunatbank 
175 Neraes Komrounalbank 
SM. Norntae 
IM Ngrglpe 
nfcrSSb Norsk Data 
*40 Hank Hvdro 
SM Norok Hydro 
130 Norsk Hydro 
130 Nank Hydra 
IM Nan* Hvdro 
>68 Norsk Hydro 
nkr?08 Norsk Mvrira 
IM Kook Hvdro 
sin Norik Hydro 
SM Nurek Hydra 
SB OppiamWcrafl Krnttta 
>15 CWoClrv 
nkrtoa OHoCIty 
>15 Orta City 
HIM OriaOly 

SM OltoCtty 

nkr no Oslo ary 
nkflM Ostaaiy 

SM Olio City 

SU Raidai-Siiktal Kraft 
SUO StaMtOenNerake 
STO Staioll Den Norsks 

sm stoMiDwiNonke 


8 17 Apr 95 IMIUtU 

IX 86 Feb 0 9 .ft 947 846 

U VO May IB 1216 1262 

11X83 May 93ft 1355 1203 

9TX 1849 1Q3B 

10 1*25 ll.U 

TTft 1L»S I2W 922 
99% 11/7 1L3I 

97ft MJ3 1158 954 
103 11/9 1286 

.... 704ft 10X7 lira 

Hft 89 MOV Mix 1341 U64 1*25 

9ft VI Feb 92ft 1141 1271 1*68 
lift 80 NOV 0 1223 1146 

10% 82 Jon 182ft 9J2 1840 

709388 Apt 100% MJ9 U21 1*47 
7ft 87 Feb « 1141 T3.TJ 844 


lBX-BSOd 
11% 86 Jun 
9 8*5(0 
11X87 Jan 
9ft 87 Jut 
lj%875ra 
12 89 JM 


7ft VO Dec IS 
Bft VI Dec If 
iftV2Mov n 
9ft VO Apr SI 
9X16 Apt to 
iftHPMor 91 


11.17 1248 042 
1047 1133 f/5 
1*71 73/1 VM 
109 1261 1074 
11/5 1104 9.46 
11/6 12di 931 


10% 89 Dec TOft MS 1*39 
9% 85 Jun IPX KLM 1*79 947 
9ft 86 Feb 0 1*721*71 960 

16ft 87 Jul TOft 11JB 1363 
12 10 Feb TOft 1141 ll/I 

lift 91 Mr IIBXIIM IUI 

9 VI See 88% 1153 1*16 

12 -910a 105% Ml law IUS 
8ft 82 Mar Nft 10/9 1149 9J9 
12% V2Nav 113 T229 12T9 058 

9% 84 Jan 37% 115212371*51 
97 ML9710H *44 

n 11/7 TUS 541 
99ft KU3 940 
II U39HU) *42 
nx 1165 1245 742 

,. » H6511J8 9J8 

18% 80 Ftb W 941 9471*15 
11% VI Aug HSft BUI 106* 
IX 97 Nov » U51 1241 RU7 
97ft UU8 1*71 661 
101% 11/1 1143 

185 11.98 7216 

hx its* iU6 nn 


6% 85 Dec 
5% 85 Jua 
9X8* Jan 
1% 86 Mar 
7% 87 Mar 
9 88 MOT 


4% 85 Oct 
17 81 AW 
13ft 89 Jut 
9ft89Aug 


SOUTH AFRICA 


Sto South Air Ico 
Sto South Africa 
ecu/O South Africa 
lib South Africa 
>50 Anuta American Com 
>20 EscuaiEtectrSuppiv 
>75 Emm Eitar Supply 
>15 Escom Eiectr Suonty 
S7S Escam Eiectr Supply 
ear 60 Poet Trtecwn Pretoria 


. 87 Fab 

7X87 Dec 


96 11 J7 1103 *51 

_ . 88 13251170 141 
lift 39Mcr 101% 1069 1106 

17ft 1* Jut lllft 1149 1233 

7ft87Mw Tift 1*301142 744 
■ft 86 DK 97 UM8t1.ll *76 


lift 18 JM 
T’kWMOT 

re%viFn 

11X1700 


12.97 12Z3 

1156 UJI 945 
7299 1261 

7*61 11/0 


SOUTH AMERICA 


Sto Brazil 
>2* Colombia 
SM Vemnueta 
tat T* Etafrabrm 
SIS Vennueion TetaoreM 

SPAIN 


IX 87 Dec 
BH88FM 
■% 83 DCJ 
1% VO Oct 
1% 87 Dec 


■9ft lire «.n 722 

Bft 15J6 2048 (48 
7V I3JD 1*71 1148 
to 9.11 *39 

IS 1179 1*45 MS 


SIOO Spain 
820 AuJapfatai 
>20 Ini Humid Nac Iraki 
>15 Pefroner 
SIS Pefronar 

SUPRANATIONAL 


15% 87 Apr 

7 87 Jul 

8 8700 

’ 8ft 88 Dec 

7XM Joa 


114* 1*58 

153 11/2 727 
9251*17 *35 
1*401042 876 
.HUI12J4 8J3 


ecu 40 African Develop Bonk ' ' 
■aito African Deveun Bank 
S75 Aston Devofop Bonk 
v 15000 Asian DerekreBrak 
fison Asian Develop Bon k 
VI5800 Astaa Devefop Bonk 
im Asian Oeveieo Bonk 
v 15000 Asian Deyg fn pBmik 
im cauncti Of Europe 
ecu 35 CouncUOl Europe 
Std Ecs Earn Coal & Steel 
tf IM EcsEuraCeaitSiiei 
>15 Ea Euro Coal* Heel 
>20 E a Ewe Coat X Start 
Sto ECS Euro Coal l> Steel 
SM Ess Euro Coal* Steel 
HIM Ecs Euro Cetri* Beet 
128 Ed Euro Coal ASteef 
sm Ea Euro coot* suet 
in Ea Eurocrat* Start 
ecu at EaEunsCwi* Start 
IM Ea Eura Coal A Start 
in EcsEero Cant* Start 
dr MO Ea Eure Coat A Steel 
S75 Ea Euro Coat A Start 
>1M EaEgreCeot AStael 
S25 Ea Euro Coal A Start 
fQ)40 Ea Eva Cert A Start 
>M Ea Eurocrat * Start 
sm Ea Eura CM> A Start 
Sin Ea EureCaeiAStoM 
S2S Ea Euro Coal A Start 
>50 EoEuraCeal AStael 
>3M Etc Euren Econun Cant 
ecuM Eec Euroo Econom Cofli 
•also Eec Eirw Econom Com 
150 EKEurauEcoaaniCiOT 
■cuM Eec EuraaEcewm Corn 
SIS Era Eurou Econom COM 
■cun Ek E urra Eeenm Com 
ecu 7b Eec Euroo Econom Com 
SM Eec Euroo Econom Com 
IM Etc Euroo Econom Cam 
ecuM Eec Eurep Econori Cam 
>M Etc Euros E careen Com 
iH E*c Euroo Econom Cam 
STOO Eec Euroo Econom Coat 
>75 Era Eieuo Econom Com 
Sto Eec Euroo Econom Com 
1 70 Eec Euroo Econom Com 
SM Eec Euroo Econom Com 
128 Elb Euroo invest Bora 
>30 Elb Euroo invert Bonk 
*38 Eta Euroo Invert Bonk 
*60 Eta Estop Invest Book 
(25 cm Euroo Invest Bonk 
>15 Elb Euroo invert Bom 
>M Eta Euroo Invert Bank 
>35 ClbEurap Invert Bank 
>m Elb Eiiropiavgfl Bank 
ff 175 Eta Eeroo Invert Bank 
SM ElbEuroe Invert BO* 
Sto Elb Euroo Invert Bank 
>700 Elb Euroo invert Bank 
STO Elb Eon* Invert Bonk 
135 Elb Euros Invert Bank 
Win EKi Euroo invert Bonk 
SIM Eib Europ liwert Batik 
>50 Elb Euroo Invert Bonk 
sno Elb Eurra invert Bunk 
HSW Eta Euroo invert Bunk 
130 EtaEurop Invert Bank 
ecuM Eta Eurap Invert Bonk 
SIH Elb Eurra levrat Bonk 
SBC Eta Eurap Invert Bonk 
(to Elb Euroo Invest Bor* 
■SM £10 Emus Invest Bonk 
SM Elb Eurra invert Bam 
I TO elb Eurra invert Bank 
> TO Eta Eurra Invest Bank 
SWO Eta Eurra tanst Bank 
ecuM Eta Euroo Invert Bank 
1M0D Eta Eurra Invert Bank 

>200 Elb Euroo invert Bank 

STO Elb Euroo Invert Bank 
I2B Eta Eurwinveai Bank 
>735 Elo Eurra Invert Bank 
cuM Elb Eurra invert Bank 
UB Elb Eurra Invert Bank 
174 Elb Eurap Invert Bank 
US Eta Eurap Invert Brak 
IH Eta Eurra invert Baik 
UN ElbEuraa 
orifO EAEurag 




10X89 Dec 181 .... 

,18X81 Dec W2X 1*12 
IX 16 Aug *7 I1A 
5X 88 See Xft 692 
1X81 As* U4X 725 

IX 82 AUO HB% 757 

11% 83 Nov 96 1250 

7ft 84 Fett !B1% 7.M 
11X92 Mar 99% 1146 
lift 83 MOV 107% 1*26 945 IBM 
,9% 86 Jan 9* 1842 1*52 M6 
16% 86 Apr 103 K196 Till 

6ft 86 Jun 95 1146 1*15 646 

6ft 86 Dec n 113* list 699 
4ft 87 Mar 92ft lljn 1247 7JQ 
14X87 Mar 105% 11/5 1441 

7% 87 Aor 91ft 1227 17.18 7.9J 
5X8700 «1 1047 1181 721 

lift 81 Mav BOX 1127 1122 TIZ7 

13ft TM OCI TOft 1277 1341 

10% 89 See 105% T.io 1*17 

IX 89 Oct 87 11171282 9/1 


9ft 89 Dec *4 
to senior Wl 
lift 90 Auo »9 
9% 81 Jul 


IUI 1166 1124 
923 9/1 948 
T2.1D 71.99 

1159 1124 l&U 


lift 83 Jilt 
11X83 Sag 
12 9300 
lift 93 Od 
1) 83 Dec 
12 VJOee 


* 83APT 82ft 125* 11151141 
nx 94 Sra TUX 1*89 1*54 

9 85 Jun 70ft 1767 1126 1122 
9 8* MOV D ) 1/5 7219 1*59 
8X970O 75ft 1275 11X7 1149 
9% to Apr 71 1211 1 LG 1146 

9 99 Jen 76ft 12/1 1114 1176 
11 87 Jut 99 11.45 1L1! 

lift 87 Jot KW* 9/1 1*77 

11% 80 Jill 107% 921 1*// 

lift 81 Feb 1B2 1127 11.71 11/4 

11% 93 Fib 1(6% UU2 9/2W19 
14% 83 Apr 107% 1322 1221 13.75 
TOft 1*10 KUO 
105 1*31 941 1071 

toft 1226 lilt 
102% 11.0 1161 
104 1126 9.86 1*9 

.... to 1236 123* 

lift 84 Feb »1% 11.13 1U3 

lift 9J Jot 95ft 1720 ra/l 1244 
*0 1254 11291194 

9JB 1209 1157 11.73 
91 1X5» 1329 1219 

97 1257 12H 

Tift 921 *21 609 
toft 1*717*79 *11 
toft 11.19 9/4 

toft tOJI 1*51 8J6 
91 1*41 1149 1/7 

97 691 I0J1 6JC 

« 1127 Ul 

lift *38 924 1.74 
96ft 1154 R.ID 
92ft 1141 1264 744 
to 1*48 1129 740 
to KW 112! 7/9 
TO 1142 I3J0 
*0 12/9 9/4 

9 *% il 32 tui tare 
TO 940 9/4 1141 


18X9SM4ir 
11 85MOY 

It 9, keg 
72ft 88 Dec 
I 855*0 
0X86 Jan 
*ft 8* Mar 
1X86 Apr 
1ft 81 MOT 
4ft 86 Aug 
OX 87 Apr 
*ft 87 Jun 
to* 87 JU 
7%87Agg 
7% 87 OO 
7 870ee 
12% 81 Jot 
8ft 80 Feb 
9% 86 Feb 
lift 81 Apr 
11 31 Jut 
6% to Sra 
lift 885*0 
9% '81 Oct 
Ift 88 Dec 
TOft 89 Jen 


nx 11/4 
97ft iui 
i03ft tun 
96ft TAX 
92ft 1146 
116% *44 
15ft 89 Mar 109% 72/0 1139 )6.19 
13% IT Aar Mlft 1235 1256 

tokiTMsv n nsv W4 

7X 89 See lOlX 69* 756 

7X80 Feb 90 1*19 1722 8J3 


1U0 

9/e 

1594 

M.W 

*.19 

9.95 


revi 80 Aor MIX IUI 
13X80 MOV TO 1116 
* 805(0 16 72/7 

10% VO Oct TO *39 
IX 90 Dec HS 762 
lift 80 Dec *7% 12 It 
9X91 Ftp lift 1276 
13 81 Mar 101 7235 

It 81 Mar *5% till 
11X81 Mar ION 9 JB 
9% 81 Mar ■ 1373 

lift 81 Jim 100% IUI 


122 * 


HUT 

1*14 

633 

jJS 

lira 

lira 

1045 

1148 

11/7 


!?.. 3 JO* TOft 1148 1144 1144 


J3 



ItUTlAue TO 1128 
16% 81 Nov 111% 1346 
I3%81 Dec TOft 11.91 
11% 83 Jon 95 1247 


cu7S Eta Eurra Invert Bonk 
sm Elb Eurra invert Bfmk 

sm EnljtS jnu«63 j 8 ** 


IW 87 Feb 
SX 83 Apr 

.l%87ivn 

lift 82 Jim 

15ft 82 JUI 
9% 82 Dec 
S% 83 Feb 
HK83MBV 
9ft 81 Jut 
lift 83 Od 


lira 

W99 

1346 

1237 

1145 

1054 


97% lira 

n lira 

1B4X 727 
106% 946 
10 12)1 
97ft 1173 
H 1291 
f)ft 13/S 
89ft 11.11 124) 1*30 
*7% 1131 IUI 


lira 

5101 

1*54 

1*94 

iui 


lift 83 Nov 106% 9.99 


HUT 


ZERO-COUPON BONDS 


/srs^TK. "ks 


Amcrlare Inti Crane 
AsksiDeydoeMM 


Altonic RkMfeu 0* 
MarMtiFtnenev 
Branice Foods on 

led louo O't Fin 
Hpr Fin Sere 
. Bar Fla Sere 
Cantina Savings Baft 
brPwif (ViCaeiM 
Ekspartttnem 
Etectrictta Firaee 
EnanCralM 
GazDc France 
GezDf France 
Genera) Electric Cred 
Generoe Electric cred 
Gerwui Electric Crttl 
Central EMrieCfid 
General EtacMcCreo 
Central Mills Inc 

H rtMflbine 
D/sFkwce 
OTfFtaonc* 
DmaeonnnaMe 
GdttOii Flnonce 
ttaw Engtond Ld* . 
Nordic investment ee 
PerreerJcCtoMFia 
Peertea Capital 
PieeteeCeMM 
PtHlta Merrli Crerid 
wrudeaDol Ready Sec 

dt RIO/1 

iHarsOveniiiii 
„.5eor>Dvereeaj 
■’r5*9f«Onh™ . 
SwedWi E«oert Credit 
Swedish EuBOrttreuit 
Junes Bank Cere 

Writs Fgryo md FIb 
xerovOedflO-iFtn 


tjAuerau sm 
I1AM20M STOO 

4F«em ssoo 

35 Fib )992 

*FeOt**7 

71 Apr 1995 



1 Aim 


Security 


-YMM 

Middle Awe 
Met Price Mai Lite Curr 


ecu 130 Eta Euroamwrt Bonk 
ecu m Elb Euroo Invert Bank 
STO Eta Euroo invert Bank 
ecu 50 Eta BraDPimresf Bank 
>110 ElbEuraa uiveet Bank 
sm Elb EureP Invert Sank 
875 EfbEuroP Invert Bank 
HIM Eerotom 
ecuM Eurotam 
9 15*00 EuroHiM 
Hr 500 EnroflraD 
sm Euraftme 
S20 Eurorima 
y 10000 Eurofimd 
Sto Eurufluia 
Sto Evroftew 
120 EuratliM 
sm Euranma 
ecu/0 Euroflma 
VHBOO EureftnM 

SB interAmariconDev Bk 
IM tnterwumertcan Oev Bk 
y T50U0 infra^Snierkaa Dev Bk 
sue Inser-Araerkwi Dev Bk 
Sloe inter-American Dev Bk 
team inter American Dev Bk 
815100 Inter-Ainerteon Dee Bk 
nkr MB Nordic investment Bk 
SH Hardlc Investment Bk 
Sto Nordic invertmentBli 
Sto Ngrdk Investment Bk . 
nkr IM NarSe Investment Bk 
STS Nonflc tnvesrmeol 6k 
ISO WorHBank 
S3U WerUBank 
SIM world Bank 
>J0o werMBank 
sm World Bank 
(900 WorHBank 
HIM WorHBank 
>300 werHBWik 
>2M world no* 

STOO WerMBank . 
stoo WorHBank 
SIM WorHBank 
SH WorHBank 
SUO waridBank 
sm WorHBank 
I MO World Bank 
SUB worm Bonk 
ecu too World Bait 
SSB WaridBank 
1100 waridBank 
ecu lto World Book 

im waridBank 

SM WaridBank 
SIH World Bonk 

CDS 75 World Baek 

stop waridBank 

V 700B0 HtarUBoM 
1 75 World Book 
enl 75 WorHBank 
>300 WorUBaOk 
iWn WhrWBoati 
v 71800 WorHBank 
SIH WorMBcrik 
sm weridBant 
y 31090 waridBank 
ecuM WbridBrak 
in WbrH Bank 
1158 WaridBank 
ecu to WbridBrak 
IM World BoPk 
STO WaridBank 
sm waridBank 


KM 86 Jan 1U 94J 

1M84M0T TOft 9 JO {Iff 

13X84 Apt TOft 1329 1156 

11% 84 OCI TO 1005 1051 

11 85 Mar 99X114* 

13 86 AuU 181ft 12J1 re/I nil 
3X86 Dec 79 T234 U.15 112 

9X17*609 97ft 1146 1048 

11X82 Aw 107% I02S MilMf 

6ft 16 Apr 100 6/9 6M 

IBVjUDO TOft «6 

ift to jon *ift 1223 are «re 
7ft to Feb 91ft 1149 7242 *20 
/XtoNav 104% 7J4 IJ 
3ft 19 JOT 92ft H4BT3J9 _?,Tf 


13ft 1* oct mi au 
11 80 Mar 100% ion 

57V! 81 May M0X 1230 
11 82Jg| U5X 944 
7X84M0T MIX 7.1B 
15ft 17 Dec to an 
11X81 Mar 99% 11/5 
Bft 8) Nov 107 TM 
12% 81 Nov tom 1254 
11 82 DK to 1266 
M -HAPr 10IX 127 
7X83 Nov WJft 7 JO 
10% 14Anr *9ft WJ* 


rare 

1027 

1247 

1*60 

721 

1427 

11/6 

*79 

1266 


1U| 1341 n« 
761 


99 % lira 

96% u/3 
11.92 


l&M 

1131 

1065 

Ul 


nxvDtc 

WXtoFeb 

tu ret Mjtw 

lift 80 Jul 107% 1061 TILOB 1LM 
11% 80 NOV to% 1216 

toils Jun .9*% «57 
W 16 Aor BJ4% 1*71 
M 16 Jut 97ft 1*51 
MX IS Jul TOft 17.12 

i6fti65eg 106% lire 

16% 87 May 184% 1146 , _ 

7% V Jim 96ft H.II ll/S 7/7 
50% 87 Jun 94ft I1J0B 10/1 

15 17 Ana 114% 11/A M4S 

mvoa lOCPu 1160 1213 

55% to Mar TO 1IJ6 %n 

10% to Apr 97% 11/9 70/7 

16 to Mar U*% lire 1129 1546 


ILK 

9.77 

1527 

*59 

1249 

15/6 

n/o 


H to Aug M H49 
ll%«Aue to 11/7 
11% 11 Aug w rare 
16ft to Sep 171ft 1146 
hmibnov m% ora 
11% 19 Feb HX 1127 
I0X If Apr 98ft 11J0 
10% V9 Nov TO *61 
rex to Dec 19 was 


IBXIBJra 
lift 10 Aug 
12% 80 OB 
11% 80 Oct 


95% 1246 
77% 1245 
Mlft 1143 
96ft till 


1X81 Fob TOft 6.94 
11X81 May 1D2 1*90 

13X8100 TO run 
11 83 Feb 94 nra 
IMIlMor TOV. 720 
8 83 Mar TO 7.15 
10% 81 Apr 91 1239 

17 83 S«P MX 1221 
7X83N0V 18356 MO 
11 83 Nov 106% 947 
12X86 Sea 103% 1247 
13% 84 Nov IPX 1227 
10X84 Nov IMft 9/9 
11 84 Dec 94% II2D 
HX 81 JOP 91ft 1213 


U49 

lira 

1141 

14/7 

1*00 

lira 

mjf 

967 

1*72 

lira 

lira 

1207 

M66 


OfttoMov 

SWEDEN 


11.15 

lira 

lira 

741 

742 
iu, 
12U 
7J8 
IMS 
1259 
ora 
1000 
ll.U 
11/a 


72 1204 0/9 lira 


ft 408 Sweden 
SIM SwgdMi 
1100 Sweden 
SUO Sweden 
SM 34Mdrti 
SMO SeiedK 
SMB Sweden 
y 15000 li nd en 
IM Sneden 
1Mb Sneden 
1109 Swede n 
SIS Ago Ab 
SM Amo 
120 aiios Copco 
IM EtadrofiB 
SM EriaikPiLm 
130 Enantlin 
SM ErtaaonLffl 
Sto Ericmua Lra 
140 ftnmartaiKraflgnjpp 
S7S FananrUKrtotarupp 
S4B Gaetpvprun 
SM Gothenburg City 
SU Graengesbero 

sis GraOTOMbera 

sis ModaMoOctiDcrnslo 
IM DkaATb 
S56 PkbankenPeeMJcb 
sto PkbanUn Port-Octi 
SM SaHF/caUD 
SM SOTHftrtk 
su Sendvta 
sm Scoad&ftvtan AlrBnei 
S30 sconroff 
SM Sconroff 
SHO Siunll EnikJHB Bank 
S40 Skandl Enfkgda Bam 
SM SUA/b 
STB Sarira Skopeoporna 
IX Sparimkemas Bank 
>30 Sveraka Hdndelsbankan 
>45 Svernka H u ndehbotd/n 


13X15 Aug UOft 1045 1241 

17% « Sep »0% IUI 1234 
-• 11/71120 *78 


8% 17 Jen 
UfttoDec 
13% 89 Apr 
ex 19 uov 

UfttoDec , . 

Ift 80 Aug H4% 7/* 

11% 81 Aug 99ft DJI 


107 lire 
Wlft 1147 
92ft 1143 
Wu 11/7 


11X81 DK 
11% 8, Mar 
9% 18 Jun 
(ft 1* Mar 
9ft 15 Aug 
10ft 80 Jw 

9% 85 Dec 
6ft to Mar 
Ift to Apr 
9% 87 Sep 
1BX89 Aar 
13X 8200 
IX 17 Sea 
1X17 DK 
6% 1700 
Ift 89 Feb 
I 86 Oct 


(KB Svenefcc Hdndettxmkia 
•dr 35 Svertges Invert Bank 
IU BverlpH invttt Bank 
ursoa Sver ton Invert Bar* 
>40 SMdWi Eroort Credit 
SMO Snpdtah Export Cratfli 
SM Swedish Exoart Credtr 
cnSM SweWrti Exart Crodlt 
IM Swedtth EuPnri Crodlt 
cnSM SwedUh Exoort Credit 
SUO SwhMi Exouri Credti 
SUO sendtrti Exaari Credit 
>117 sindlih Export Crodlt 
SIOB Swedish Exwtf Crodlt 
SISB Srallrti Export Crodlt 
SSI Sweotih state Co 
SU svdsvemkeKroff 
>35 Votvu 
S2 Votvu 
sm votvu 


97% 1222 
9716 ll/i 

94 11/5 1251 944 

97% 11.15 T7J4 *70 
toft KL71 7069 955 
Hft 11.U 11.11 

99ft 951 MB 9JD 
*6ft KLM 1*51 *74 

I* reot tut* *ra 

V 522* 7265 1061 

96 11.13 1147 

104% tin 1255 IU* 

Tift 1123 ll.U til 
*4 11/0 931 

*3 H/4 72/1 7J4 

*1 1U9I3M 924 
. 97 1LU MB 

>5% ® Dec H2ft 11/1 TU7 
UfttoJPI TOM. 1235 1330 

TTft n/B 7221 
■Bft 1251 9/0 

99 1*531121 9/0 

H 1659 TUO 9.1S 
Wft M.T310XB 144 
91 1143 1341 9JS 

85 1L17 1257 843 

Kft nn n/B 
Wft 1146 7122 9/4 
85 1LU11/1 *d 

97 1145 1221 9J9 
96ft ll.n 1219 *36 

**% 7*70 HJB *27 

13% to Apr 1*2% 1340 IMS 
53X89 Feb H TON 1363 
9 «DK Wft 945 945 

TXWtiov Tift 11/9 U/l *47 
11% 88 Jul Mlft 949 UB 1047 


17 89 Nov 
Sftwmr 
9ft 86 Apr 
* 84 Auo 

1 85 Jun 
IX to Oct 
7ft 80 DK 
lift 88 Mur 
9 81 Dec 
I 87 Jan 
9ft >e Dec 
SXtoJan 
9% to Mar 


17ft 85 Mot UOft 16* 

W% It Mar 99ft HM 
15% 86 Jun 111* Off 
nxWFeb 1MX IMS 
TIM to Jul toft 1U0 
17% to sen m% tire 
lift to Feb q 1215 
75% 81 Mar TOft 1136 

M*80FM MAX 129? 

M* 80 Mav MAX I2/ST3/4UM 
10* 8/ Feb 97% 1125 lira 
MIX IUI 1469 

97 11/9 are fra 
«1 1221 160 
n 11/1 U69 I/O 


126/ 

1*30 

lire 

I2M 

1121 

an 

IUI 

U 85 


ISXVJan 
9% 86 Sot 
S 87 Mur 
8 87 Sot 
I t 88AM 


m% nra 


lira 


SWITZERLAND 


125 CtafrGrtov lull X/w 
(108 Credit SulxM Bahama) 
Sin OedUSuineBaintiito 
sua crodlt suke* Boh w/w 
sin crodiisuMeBonx/w 
sioo credit Sutw Fki x/w 
>40 Pirelli loll W/w 
S2M SertuBank Coro D/6 
8 TO SwtaBarii Caro W/w 
SHO SwtM Book Carp X/W 
im UnkM Bk SwUrorfond 
SMO Union Bk: 
siM Union Ok! 

S180 Union Bk! 


6* 83 Nov 
Wft 89 Dec 

TtoSST 

71% 8?f5» 

6*88 Jun 
10% 80 Jon 
6% 83 Jim 
6% 83 Jun 
10% 87 Nov 

re toMov 

tt to NOV 

12% 81 Jui 


87% 9M 
IS 11/1 
q 1148 
Hft 449 

nn nit 

97ft rare 

182 644 


7735 

727 

IIJS 

1201 

1201 


131 

hjb 

nra 

721 

• *39 

1241 

6/7 

reel 

SB 


lira 

1*53 

11.11 

7225 


UNITED KINGDOM 


HM United KKaodom 
120 AirleaH tall Finance 

S30 Airteatofetl Finance 

11 J Allied Browcrlee 
y HWM AOtadCa 
sra AlPed L vtmtj 
IN Allied Lyonf 
(20 Barden dank imt 
SHO BarcfcyjO/J invert 
HM BanCbarrinetoB 
DIM Bal mil Finance 
sm Bat urn Finance 
I TO Bat Inti Finance 
$41 BtKhom kill Bennuan 
ISO BtocFtrxmte 
SM BowoMrCero 
SM Bewotarcero 
sit Brtttrti uph mn 
SM BrittrtiOkyoenFKwnc 
(M BrilHil Oxygen Floonc 
>100 Brlllih Oxygen Ftnonc 
SIM Brflfrti Pefroi Capffo 
in Brirhn Ptiroi Cootta 
SM Brittib Start Coro 
1135 Brltoii Finance 
SM Ccroury S ChlJ OT T W Ota 
>35 Capital Counties Proa 
SM Caveahom lidf 
ff 108 Charter Cunjolid O/l 
IN ogno Ota Fuana 
SN Commercial Urtftwr 
>M Cauriauhtt mil Fin 
IM CaurtauMiinflFIn 
eeo/8 Ebcu Finance 
>M Eml Finance 
IM Finance For Indwilrv 
IN Flniim Fer tndoitrv 
>75 Fume* Far industry 
>30 FWancaEwlnturtry 
117 Finance For htdastry 
IM Fkwnc* Fer Industry 
sn Finance Fur mauflry 
l« Finance Fer Indurtrr 
SM Ftsera. lalf Finance 
IW FTmox bdt FkHDCe 
SM Ftaon* Infl FTnanet 
IIB Oertetan-HoHM 
>25 Gold Fiekli Bermuda 
IH Grand Metnp Finance 
>1* Grand (Wrap Hotels 
>3> Grand MafrapHaMe 
SJO Guordtan ftoyd Eicnan 
*25 Cue Intenujllanal 
SU Gu> l ut ti national 
S26 Hambrot 
>33 tiombroj 
SUB Kamraenon Property 
>M HairiurSlMdev 
IM Hitt Sarauef Group . 

S3* Hewdrn Alex Ftaan X/w 
sm id Finance X/w 
iw id inn Finance 
SM id inn Finance 
IN Inn inlT Hokflnos 
Sin inverton In indusirv 
eco6B inveitan in ifrturtry 
in tnvprtort in industry 
IM invertors in industry 
S2S KMflwart BerWon Lons 
I UnnwEmflnanoi 
SM Legal General Amur 
>180 LtavdeEuromanee 
>40 LoamMI Fkmca 
SU 6/etnprt Ertota 
(25 XMraprtEiMe 
ITS Midland inti Ftnoace 
STS Midland Intt Ftaoea 
1 15* MUMndMlFMOMe 
sue Nattanol Cool Bocra 
>58 Notional Cool Board 
>30 NulMArlndtovi Book 
STS NritWtartrnbtrttraaik 
>M NottWertminuerBank 
■ 10a NattWHFminrterFUi 
sm Nari Wttnnfiqtar Fht 
IS pieutv intt Finance 
(35 RaMOreanHMHn 


IX8JMOV 
« 86 Auo 
MtoOd 
IK 8f Mar 
6X81 Dec 
lift 81 Feb 
15ft 82 Od 
1% 86 Oit 
Ift 8J sot 
7ft 87 Al* 
7ft 87 Nov 
II 89 Dec 
MX 81 Dec 
SXtoFeb 
7% 87 Feb 
9X86 Jui 
9% 82 M» 
I 87 NOV 
10% 80 Juf 


rift 1*181228 941 
*7 11/4 1218 9JI 

flft I1JB12M 946 
97 1UM 1121 1*57 
96% 7J7 *H 
*6 1241 till 

nzx 1202 rare 
97 urn nra ui 

80ft 1266 1046 

90 1264 KM ire 

lift 1236 11V *38 
97% 1161 7U5 

«% tan uji 

97 1217 7110 *51 

*Jft 1)4* U43 ire 
ff lira 1045 
17 I2M I2MH63 
91ft IIJS 1421 *H 

_____ n ait nra 

11% 81 May Wft WJ# 1124 
18% 82 Jim Ifft 1218 1ZS) 
lift 82 Feb 94% 1221 lira 
IBX83Sep 97 1134 lira 
M 79 Jan lift lira 1274 9/3 
lift 80 Oct to TXJ5 1217 


7% 80 Oct K> 
9 to Nov 91 
9ft 87 Dec 92 
7ftt70a *3 
12*683 Abe in 
*ft 8t D»e *J 
9%8SOd 9* 
9% 89 Dec 97 

lib 81 aa 

9% 19 Apt 
74 86/or 
9% 87 Dec 
1) to Fid 
13% 8100 
U toMar 

13ft 89 Jul 

is% to jui 
Wft 90 May 
1% 87 Jut 
10% 87 Dec 
IX 83 Aug 
11 toMar 
HT6 85 Jvi 
retail sw 
»X 86 Jon 
7ft 87 Dec 

I HM 
Ift 88 Mar 
♦ft 89 Apt 
9ft850*e 
7X870CT 

II 89 Dec 
13% 81 Sot 
I ft 86 NOV 
9X81 Jun 
9*6 88 Jun 
1X87 JOT 
7ft 83 Feb 

11 toMar 

12 toMar 


1143 1272 8.12 

lira raff fra 
1111 tui rare 
1*79 17J4 *.U 

nra 11/1 

1147 111! *95 
99 11.11 11.13 944 

97 TOM 1*7] IMS 
1B» 1*54 1044 

91 1X19 7297 HU 

707 124711/71346 

n lore rera 995 

97 rare lire 

Wft 1*61 11.77 

97ft UJB MlS4 1*26 

mft lira 11/1 rare 

TO 1263 U.T3 

9*ft HUB 1*66 

96 I1J6 1277 UB 

96% lire 1*63 

83 123811481046 

*7% 12/1 ran iui 
99ft IT-11 ll.il 1029 
97V* 1144 1I.U 
♦ift 1129 7139 939 
♦Ift UJ5 14JEI 839 
93 lira 14J7 t/0 
ft lireiui 845 

97 no us rare 

99ft ra.ll 10.12 945 

n nra lira are 
97 nra rare 

»1 ft 1245 1105 

9J 1747 U27 US 

I* vususoiire 

89 1276 WJ* 

« lira rare «6i 

n *90 9JB *06 
W 1124 MJ1 
„ 99ft 1U6 1346 

It 89 Auo TOft 938 mra 

lift 81 Dec 181X11/9 lire 
10% to Oct 97ft 11.19 11/3 

9Jft 12/3 Ilf) *97 

>u rare ius 
89ft 7219 1248 *57 
H 1251 1174 1221 

nft ran rare 

» 11/1 rare *.n 


1% 87 May 
11 81 Jul 
TXWFvO 
UfttoDec 
11 to Jut 
8% 86 Dec 
I 81 Feb 
1% 86 Dec 
IXtoSeo 
lift 83 Dec 

I 87 SOT 

■xraod 

7% 87 NOV 
9 8* Jen 
9 86 JUI 


93 


032 14X0 764 
HAJ 1237 *11 
1USU24 tOJI 
1234 US 
. 11/1 1172 460 

Hft 1052 11/9 *13 
*3 1*91 UJB *33 

97ft lire 921 

97 % hut rare *2t 

14% 81 Dec Mfft 1254 120 

11% to NOV *7 1235 IUI 

Ift 86 Jun *6 fill 1457 US 
■XBtftav 96 1146 7266 9.11 


Security 


Middle j„ 
Price Mai LReCurr 


,25 Redlond Feiance X/w 
(25 Reed (nedertentf) 
s« Reed intarnatinal 
S3S Rhm infemaflanat 
,a Rhm Qvereeas Finance 

,100 Hto Tmto-ZJDC FIllOTC 

r" HptwdPfdinvHown 
lra Rowntrw Modtlntein 
130 Rgwnlroe Mqc fcMgrt i 
,7, Rancor Intt Finance 
SM Scotland htfl F inance 

SM Scotla nd mil Fincxi ce 

US 5eoro International 
,M Selection Tn*l 
$30 Slough Ertatas Fin 
S12 MouabErtM toLu x 
$15 Town aty Nederland 
1JS Ub Finance X/w 
SM UOFbiance 
SM UnMed Biscuit, (uk) 

,35 UrdtedDaailoMiiTna 
,30 WellcaaieFeundatian 
ns whimnadCa 
,15 wlinams Gtvra Bank 
5100 WllUana Glyns Nedert 


9ft 81 Mar a 13/6 are H/o 
16% 89 Mir ns 1495 ]iJ5 

9 87 May 96 1233 1172 *S 

8 toMar toft 1747 125* *74 

9 83 Aug B 111712471*5* 

11X82 NOV (4 1271 njj 

14ft to Aug TOft 1323 7322 IU 

70% 88 Feb « 11271*137*5 

96 7*76 are 
*4 IB54 1363 

92ft ran iS 
navy rare iS 
78 1127 IU 
*2 11.14 1144 ui 

90 1225 1458 *fl 

*7 0X81245 90 
to lira nra *79 

81% 1IJ7 971 

« UH U42 ILK 


TtatoDd 
11X83 Nov 
1B%80MOy 

1S!2S j fS 

risss 

9 89 MO» 

e« 

issss 

H 83 Jun 


(Bft IUI 13.1* 1215 


UNITED STATES AMERICA 


16% 82 Feb njfVj 14/4 
lift 80 Mav lB3ft 1271 
13%80Mav TO 1189 
10% 87 MOV 95 UZ4 


6% to Dec 
5UtoJllJ 
72 87 Apr 
I 88 Mar 
UX80 5OT 
12X89 00 
lift to Mar 
13 895*0 
MfttoSOT 
9% 87 Jul 


74% to MOV 184 TIM 


*% 84 Jul 
11% 87 Dec 
UfttoDec 
12 82 Jon 
11% 89 Oct 
ID 9 1 Jul 


13% 84 Nw m% um 
nft 86 Aar rente 1156 


1* 86 Jul 
12 87 Od 
11.3088 Mar 
lOfttoMoy 
11% 80 CM 
11% 82 Feb 
7b toMar 
HUtoFeb 
11% 89 Aar 
17 88 Sn 
UfttoDec 
nftwuav 


... lire 

11% 81 Od 100 11J1 

rax 88 jun q% nn 
13% 89 Aug HI lira 


5 TOM Targeted U* Treasury 
SHOO TareetedUi Treasury 
120 Acona 

,150 Aetna Lxta Casualty., 

5100 Akaku MourtnoFUiCo 
5 12 Amax lint Gaaffal 
*73 Anwx tort Finance 
,40 Amerada HtuX/w 
555 American Alritnes Ota 

I too American Bronflts 

,IM Americno Express Cred 
,75 American EroresiDta 
im American Ejarm O/s 
130 American ExprenO/6 
,54 American FarrtgnPwr 

,50 Americon Foreign Pwr 
cnSM American Ma»>»u 
I/O American Medical Intt 
1125 American 5avinet intt 
,IB American SavWW tail 
S4B AmeriamTeieenTcfeg 
,25 Amoco Oil HoUDnov 
SUO Ardwaser-Susch Intt 
STS Arizona PsCfl 
,50 ArtzPM ris Finance 
STS Artzope Pi Finance 
,2S Artaona Ps Flnonce 
,60 ArizaaoP, Finance 
SM Armca O/s Finance 
$25 AjWand OB Finance 
SWO Artre 

5 300 Atkzdlc RlchlteidOl 
so Aiianttc RtcniHUOs 

140 AvcoOtaCboftaf 
yXlOOO Avon COTtiai Cora 
,15 Banpor Punto Intt 
1300 Bank Of America 
S3M Bonk Dt America 
sm BamomericoO/x 
(150 Bankers TrartNv 
SIM Banker, Trait Ny 
SM BrorSIvomCo 
S2D0 Beatrice Finance W/w 
$m BerwfldaiDtaFinanc 
130 Beneficial Q/S Flnanc 
IM Bench ckd 0/» Rnanc 
I IDO Beneficlo) O/i Flnanc 
$20 Blue Bell tail 
$50 Bofae Cascade COro 
SUO Burden inc 
(Ho Bosun tali Flponce 
SM BuriinotonO/s 
SM Burroughs tan F1n»C 
SM Campbell Soup O/S Fin 
IM Carolina PaewrLlBtd 
>35 Carrier ln(i 
SH Carter Hawley Hole Os 
sno cosine 
14B Cos inc 

SIM Owsabrauph- Poods 
>600 Chevron Capital 
ecu 40 Chrysler Financial Co 
SIM OwYsftr Financial Co 
SHO CUtcoro Ota Finance 
$300 CTMcorp D/S Ftaonee 
sm OHcarpO/1 Finance 
S735 Otteoro Oft Finance 
sm CHkarpO/xFliiOTca 
,m Citicorp 0/9 FkKuee 
in OticaroO/iFinanco 
IM Citicorp O/s Flnanc* 
sm aifcora Ota Finance 
SIM Clttcorp 0/> Finance 
SUB Cltws Service On 
STS City Federal Savina, 

>125 Coosl Fed Inti Flnooc _. . 

>m Coco-Cola Company 7C/W 11X88 Nov WO 
STM Coca-Cola Company 
SUO Coca-Cola tall FIhotc 
> m Coca-Cola Inti Flnanc 
> too Coco-Coia imi Flnanc 
SUO Coco<oJo tail Floonc 
srn Cammunicat SaMDta 
sm Censor inn 
>M Caaecp Eurofinance 
>H ConsaOdatad Foods Os 
sm Ccmininiat Gram Ota 
>75 CanttaOliM Group O/S 
SIM CenUiwnWifllnois 
sm Cantlnemal IBInals 
SM Coal Mental Tetaotww 
SM Cron Products Coe 
>20 Ootnlnp tai eroatl o ao l 
ITS Cracker NaUaaoi Bank 
>M Cummua Ota Finance 
SU Cutter-Hammer 
>2M Code Savtrnsl. Loan 
SM Pono international 
>85 Dart * Kraft Finance 
sue DeeroJCradR 
>150 DUrflal Euutomtnl O/t 
>120 OaerCbemlart 0/> 
sm DwChefnteniOta 
>30 Dow Carn&rs Ota 
>75 Dmsrr O/i Finance 
sm Du Pont Oil Capital 
S4M Du Pont Ota Capitol 

Power Ort Flnanc 
n Kodak Co 
(nance 
_l Ftnonc* 

Ort Flnonce 
O/s Flnanc* Mar 
... . o/t Flounce Nov 

im Fed Deaf Stores 
>m FWHama Loan Banks 
>300 Fea National Mart An - 
SW FBHFediMTOioaa 
SW Florida Federjavinas 
>m Poor Finance • 
sm Ford Motor Credit Ca 
im-FortMarorCrooitCo 
IU Ford Motor Crodlt Co 
sm FM/Mtar credit Ca 
sm Ford O/s Finance 
>25 Genera) AmertcTronso 
>25 Gcnenri Coble Ota 
>200 General Electric Cred 
sm GOTeral Electric Cred 
>m General Electric Cred 
sm General Eiectr icCrod 
sm Genera) Electric Cred 
in General Electric Cred 
IB General Electric O/S 
sm General Foods Colon 
SM General Fbods Cred Ca 
IM General Mini Finance 
(UB General MUD tae 
sm General Me*ere accm 
v 25900 General Wotors Accra 
sm Gcnenri Matare O/s FI 
sm Gcnetai Motors O/s FI 
>l« General Motor, Ota Fi 
s*S OaorotoPeciflc Ftaon 
SW Getty Ofl Infl 
in GmocOta Flnonce 
sm Gone O/s Finance 
>20# Gone Ota Ftowce 
sm GmacD/sFmam 
sua came Ort Floonc* 
sm GmocOta Fmaoce 
SIX Gfflnc O/i Finance 
s TO GmocOrt Finance 
S73S Gmac Ota Finance 
sm GmocOrt Finance 
SH* G<nac Oft Finance 
>75 Gaedyear Ota Finance 
vWBQ Goodyear Tiro Rubber 
>73 Guuidtae 


11X81 See ffX 1145 
11 to Feb 97% lira 

14 85 Dec HU IU9 

15 86 Aw WJ% U.99 

11% to Feb 97 7231 TUB 1211 

1% 86 APT J7 CUT 1211 9JB 
16% 83 Anr TOft 1452 UM 
4% 87 Jul B7ftUMI7J7 TJJ 


1142 

lire 
TIM 
14 M 





15% 86 Apr 102 11B8 

11 87 Dec 99ft 1U7 

11X8800 U1% 1211 
14% to Aar um mo 

1*%8BApr 93% 1157 
11X82 Aar 99% 1141 
48187 Jon B9ft 11J1 
5 *30 Mar 41ft 1234 

12X84 APT Ul Dll 
11% 85 Feb Wl 1107 

12 89 Apr 9f% 1251 

73% 89 May .99% 7Z47 

<4% 89 Mar TOft are 

5%8SOct « 9/1 t/2 5/7 

lift to Jan 95% 1238 tUS 

13ft 82 Feb 96ft U29 7255 

16% 88 Juf 102 15J3 1553 

11% to Feb TO 1511 ISJB 
16 89 Feb 101ft 1*71 1*46 

11% 8# Jon « tt» .1237 
15% 84 Dec 100 1521 TUB 

_ 87 Aw 97ft U7H22 *21 


HH 

TUX 

1247 

13.9, 

ra.93 

1140 

136 

na 

IUS 

1L14 

1221 

1236 

13.72 



^tsr s2; - -• — rtsn* ’ > 

id" r..-.rn - - ; 




•A iA 


4 .1 






IwsL*; 01 :irs: ’ 

j,jcer^ Gt Cll . :?■ 

^ sho* ei *_ j3jv-- r — 


96% 737 
88 9JD 
99% 1213 

89% nn 

91% 72*6 
IMft 1243 
9S 1153 
WJft 1149 
wo% no 
95 1231 


15JP 

nn 

IUS 

1HL7V 

658 

597 

12/3 

851 

11J7 

1256 

nre 

1256 

J ora 

7*36 

an 

73JD 

1230 


JpfnJ» 3 ^ 






14% 80 Dec W4 u. 

12 8»F« » 7259 

7ft 87 Od Hft 1*37 1LU *20 
12 82 Jan MX 1272 

13ft 87 Od WI 11.94 

14% to Jim TO U33 1U3 

7% 87 Apt 95 1064 ON *16 

15X88 Mar 103 14/3 HJ9 

14 89 APT 702 11J7 1U3 

HfttoFeb lUft 14JS KJ9 

I 87 Jun toft 11/4 1135 856 


1 “; . ffciwrcKer- 1 ' ‘ . 


' tt equ» valcD '. r , , , - r* 


rjitoO 


UffiL 


97 TUB 
Bft 1223 
M% 1L5I 
*4% 1209 
100% 1212 
91% 1*37 


«0% 11/7 

in n.n 

97 7257 

92ft T3J5 
92 1223 

*6% 1246 


1*85 

IUI 

lira 

1366 

1222 

1*11 

1115 

are 

tan 

IUS 

1145 

11.19 

tire 

1214 


'.a'*—-, - ..., *"n-“ -S 

pinched 01.;^ 

-rtordmOT 1 ?°.r J ..r 


95ft i*sj lira nre 


72% ax 
99 11.90 

na ran 
*9% lire 
98% 1272 


lift 8900 
Pttt«n 
11X85 FH) 
12% 81 MOV 
8 86 Feb 
7ft to Jon 
9X16 Jui 
lift 83 Aug 

9% 86 Jul 


1274 

nre 

1667 

1253 

1241 

IUI 

IIJS 

1*56 

1231 

IU] 

wre 

UJO 

1264 


Ul 1141 
« nre 
*2% rus 

Wft 12/0 „ 

96ft T236 1U1 *28 
81ft UB 1155 930 
96ft UJB 957 
im tire nre 

*6 1129 1*1* 

15% toMar 102 15/1 1144 

1% 88 Feb Wft 72£ 1259 *55 
TO 14.90 1642 

to 1*77 1*21 147 

93 1141 iu* 

107 1179 14/9 

Mft 18J9 H23 *47 

uoft lire nre 

94ft 032 1214 *47 
*7 *11 7.19 

<2 1110 7264 

1135 
*53 


16% 86 Sep 
Bft 8* Mar 
ISft 18 Apr 
UfttoDec 
I 87 Jun 
nftirsOT 
I 87 Mar 
7ft ft Nov 
IIXtoMar _ 
lift 89 Mar HB 11.74 
I 86 Dec 93ft 1219 


vXtoMar 
.Ift 8* JOT 


12ft 89 Qd W6 KJ7 
Bft 87 MOV TOft 11/2 
Mft 88 Dec 103ft 1352 
Uftto AM 103% ITS) 
1 ift 83 Jon *6ft tire 
im to apt ram rare 
HtatoMar 97 iiji 
13% to Jan MB 13J0 
17X83 May Bft 129* 
9 85 Sep “ 


17% 1202 1264 IUI 

97 nra nre *n 



GXtoAtor 


s rsa 

1% 87 May 
lift T7 Nov 
12 toOd 
10% to Fob 
t# to Jvi 
11 81 FM 
9%87Acp 



19% 1155 
law. nra 
«*% nra 
fz% lira 
97 nra 

__ fWs nre 
6% 15 Dec 151 42IB 

Wft 9s Jon TOft nra 

a 89 Aor TO IU7 1141 11/1 
8 86 Mar Xft 1218 1217 *29 

12 to DfC 97 1266 CJ7 

H to Mar *6 lire W47 

6ft to F*b 97% 7.11 /re 

II 8»Apr Hft nra nre 

IX 8* Auo 97 11.171131 947 


11X8700 100 1147 

14X87 Apr 102ft U.U 
U to MOV 104 0*6 

17% 86 Jan ICC 1257 
86 16 Jpl 97% lire 
12 8* Jul TOft 11J1 
15 87 Mar TOft life 
D 8700 JOB* 1)51 
12% to Feb Id HM 
m 88 Feb KiTft lira 
UfttoAuP TOft 1271 
U 89MOV U3% 1198 
HfttoFOb 95 11J9 


8100 Gram Ftaonee 
SM GteFhmcr 
>75 GMFlaance 
>58 OM/Wm 
855 GieFJaoaca 
ecuM Gte Finance 
*15 Gte taftraeiioBol 
two Gutt Qtt Fiaom 
sm GuH on Finance 
>6B Guff Stele, Ort Finan 
>60 Gulf Starts Ota Finan 
S7S Cpu SMes UiiUlin 
sm GuMiWesrtm infer c 
SIS HoasO/sCOTIM 
IM Hertz Cautof Caro 
>15 Hltten iPHraaitonai 
SHO HanevweU nnt FIihmc 
SUO HouMHH Finenc* lid 
srn iron CrodB Cora 
>300 (bra croon Cara 
ino tomCraattCgro 
>3Bo 10m Croda Caro 
SWB ibm Credit O/sXfw 
>300 ibrnworid Trade 
SB tcMuiirias 
171 Icinduitries 
>m IcIndurtriesW/w 
IH Ic Industrie, X/w 
SIS fclBdurtrtas 
ats w ic Induilrtet 
STS ictadertrin 
SM ituneUPtMer Ftaonc 

sno imiols Paw Flnanc 
SM InaersoO-Rusdliltl 
SITS tatf Harvester Ota Fi 
Sit intt HcrvKltr Ota Ca 
(75 let) Paper O't Flnanc 
sis 1 ntf Standard Ertctri 
135 intf Storotard Eledri 
S3) InH Standard Elecfri 
ISO InH Standard EUcm 
175 InH Standard EteeW 
>7i mAaHHa 
SIM in Antilles 
>50 iRCprparaflM 
tUS HfFlnonc.ot 

SB hiAnctB 

>5 JoiyHencackoroFlno 
>m KeftesaCama 
Sim KeMoepCemp 
SW Ktavwcaiilitti 
SM Kiddt Walter o.'s 
im KUifbenv-Ooric 
IM Kintaertv -Clark Intt 


17X80 Oct 
17ft 87 Jut 
6X84 DSC 
lift toMar 

rax if am 

15X81 Jun 
12 87 Apr 


wv> hjb 
99% IUI 
*6% 7A2 

*1 are 

TOft 12*5 
nn rare 
“ 1256 


12% to Mot TO* 7U6 


*% 89 JUI 

WX82ADT 

3% 86 Nov 
tTfctoOl! 

TO- 84 Dec 

17ft 88 on 

16 toJtpr 
U to Mar 

ITXto Mar 

»V1«*Jun 
: 5% fr Aar 

7ft t7 NSV 

TOXtoMor 94% 1221 
>5., toDec lPTft u/l 
jn-tooct m% nra 
WXTBFet) ysx nra 
IF 89 Dec m HUB 
9X81 Mar 95% 1*79 
nXVAup TOft 1343 

i7%82oa nzx nra 
8% to Jun 92ft 128B 
12 97ft 1241 

8%81Jun 1D9 7/3 

sxviJM n nra 


itJJ 

1427 

1346 

nra 

*ra 

1271 
1449 
IIJI 
1275 
14/1 
13J8 
U IS 
IIJS 
11/7 
1253 
7)4 
1261 
1S.1I 
1237 
1212 
1122 


«?% 1215 12*9 W57 
1#7ft 937 »12 

•6ft tore TUI *55 


wwi rare 

.89% am 
t«% isra 
103% UJB 
*8% 1321 
TO 1279 
97 11/51264 9JS 

101% HM 1S.11 
9zft 18L23 1153 S» 


'232 

11/7 

1*63 

15.47 

UM 

1217 


?3ft810d 
WvtoFea 
lift to DK 
Mft 89 Jun 
12ft to apt 
13% 85 Oct 
12% 85 Aw 
5 86 Aor 
72 91 Mcr 
» 8* war 
* H>Od 
I 87 MO* 
lift 19 Jan 
12 9* Mur 

8.5 89 May 
lift 87 Nov 
I! to Feb 
lift 89 Dee 

8% to Jut . 

12 89 Nov no% 11JJ 
rax to jun q% nre 


lira 

1462 

1160 

1064 

iua 

HUB 

rare 

lira 

9/4 

1231 

834 

tore 

iu* 

1X76 

7234 

14.11 

12*9 


103 1231 

95 ure 

97 U32 

107% 1155 
*6% U35 

waiy 1X17 mg uu 
9f% 1*51 nra 

*3 1281 531 

•9ft 1212 72/6 

Hft 1*12)131 633 
X lira UU *38 
TO HUS IUI 653 
101% 1*61 1*99 

•t 1X3412431234 
*B% 1X51 10/7 

96% 051 I2U 
934. USB 11 JO 

98% lira n.n 

to IU011M 9JI 

I>.91 


llWtoJcn 
9ft 86 Jut) 
•ft 85 Jut 
U re Dec 
rft86APf 


11/5 
96% 1245 
99ft IUI 

wax lira 


1134 

lire 

9JB 

*56 

nra 


97ft 11.13 1733 8.72 


(Continued on Page 8) 



West LB 



Eurobonds - DM Bonds - Schuldscheine 
for dealing prices call 


dOsseldohf 


WwadeutGche Latfidegfaenk. Head Offices. RQ. Hnv ir?fl /non n.V^HrWf'i 

and TOtePto ™ 8 3, 22/8 26 3^ 


# 


London 


Wostdetftsche Landssbank. 41, Moorgate. London EC2R 6 AE/i nc 
Triephone 6386T41 ■ Tate* 887 984 


LunwnboMrg 


WastLB international S.A., 32-34 boutevartj GrontHs-DuchnofiA dharinUK 
Luxwnbourg. Telephone 4474!>43 - i678 Chariotte, 


Hong Kong 


Westrioutsche Umdesbank, BATbutm; 36th Floor. 12 Hatcoun Road 

Hong Kong,TelBphona 5-B4Z0288 -Tftlex 76142 HX 


Marki 


WestLB 

e Landesbank 



-dnninn.^? , . 


ji billion. u . 7 
fourth pU«- tV: ‘" 51 
*awnha» i?ls& :. , - ,i 

■ riu total '•Olli-T.i 1 


■jjjjlOUl .V.— - , 


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SuDje ihenoivne-.w.%i 
jmuuca'.i) vha'ev -7 - ?■« 

debt ir% 


* 


sjamlin? ft} ^ 
fjjlsjiuniwi tr ps-’*'—- 1 •- 0l - 
id war ! 


tlTEVERTHELESS. the I 

V ne% mone> ic ’S.t ” 0 ) 
il .with il-i.!-rJt:cn 


gibiDipfi m Februir. ar^ « 
Blbillwn. Bui ihe Mir ch fi; 
iar-eariier month. 
llKdier this pac-.* car. be ij 
a* bankers. Tee*- <uspixi ti 
abetnasluii to correct the 
atferaiaonil poruV-lics ihj 
dioflar waknes* in the iat 
mtetion ls over and. if 2 
xnfota are over* ei jhted ij 
M these bariken ask. cv 
nnaracs to be boliiered by 
teas available on iiiemai 
tttfrtpeci aCkumuLaoi 
aiwiwz near the current ri 
Otawsl). no one has thi 
aceUa "week sav e cc reas 
■£near. Tms is be-ojuss :ha 
Awiiers acre >He 10 sell 
3mdS525 miiiior. c: fli 
fcrc was particular utter 
^of eight-) ear fioacii 
?cv '5 Hrsi offsnr.s of coll 
‘snnmsier's S400'milUoa 
3 »hL 

^ the tenns of the stri 
1,1 nave to be piiched hie 
jwie in New York. De: 
^ wnds here bidding 22 
, * Treasury paper, last wee 
' P^^niiDeni to launch 
^coupon of 12 perc 

bH?' G eneral Foods- 
^' e E - u ' t,{ >ond 
SE"*— paidZl basis 
' bmi aoleS i WCTe 0 I "fe:evj at qt 

J? »• placement was nett 

fcS^hi^erihS 

Bank of Mk 

•Contained 





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ffi-SSK S. 

Ill f 


MONDAY, APRIL 1, 1985 


Page 7 


■ a» Ax* 

SSHL Ll«. t 

r“» a 

TCB&nfc T?.72<W E h? 


EUROBONDS 


*** MS & « 

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;*o states^ **is3 

ni 7v e - 

sf* fcjSfrSr# 

BL III I Is 

*“»_ ii a*w IB ■!«.,.£ 


First-Quarter Volume Rose 
55% to $32-BiUion High 


EK 8 S £«£ &S? ‘ T\ 

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SSfe ,LgS fc & r> I 

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incnce ■] Si* iffl J* * 

imct JH, S IB'. b 

iiw* isS-Eir* w V ? 

=hwnce s**5?* na }'' > 

37 Jup ( S2 ( ly) 

t* fell ill 

at. fls £,i 

ft Si * 


By CARL GEWHtTZ 

Jtuemadtmul Herald Tribune 

P ARIS — A record volume of $32 billion was raised in the 
Eurobond market during the first quarter, statistics sup- 
plied by Salomon Brothers show. That was a rise of 55 
percent from the year-earner pace. All the currency 
sectors except the pound sterling and the guilder shared in the 
expansion. Paper denominated in UJS. dollars rose 60 percent 
from a year earlier, to 524.5 billion. That was 76 percent of total 
volume, up from 74 percent a year earlier. 

The Deutsche mark was a far distant second most popular 
currency, with S1.S3 billion of the first-quarter total This was a 
scant increase from last year, reducing the DM's 

market share to 5.6 percent 

from 8 percent. Eurobond Yields 

Although accounting for For Woafc Mod March 27 


tt- $'%% *& * 
3f«k ’g-Jfc SftJ- ? 

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uldscheins 


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^<e Dsa rfc, “ e ‘ 


stL-B 

esbar* 


from 8 percenL 

Although accounting for 
only 4 percent of total first- 
quarter activity, Euroyen is- 
sues showed the greatest 
jump from a year earlier — 
up almost 1,100 percent — 
because such issues were first 
allowed only late last year. 

The Canadian dollar 
scored a 256-percent gain- 
,with first-quarter volume at 
the equivalent of $1.11 bil- 
lion, while the European 
Currency Unit, up 55 per- 
cent, inched out the pound as 
the third most popular Euro- 
bond vehicle, with volume of 
S1.5- billion. The pound was 
in fourth place, with $1.25 


UJLS la term, JnH Inst. 

u.ss Iona term. incL 

UST medium term. Ind. - 

Cams medium term 

French Fr. medium term 

Sterling medium term - 

Yen medium term. Inti Inst. 

Yen To term. Inf I Inst. 

ECU short term ... 

ECU medium term 

ECU long term 

EUA lone term 

FLx le term, Infl Inst. 

FLx metfum term . — 


coteutotmt bv the Luxembourg Stock &t- 


Market Turnover 


For Week Ended Math 29 

(Miltons at Ui Dollars) 

jotat Donor Eeotatant 
Cede! 12847.101023140 1614S0 

Eurodear 2&684J0244S4J0 103020 


N EVERTHELESS, the figures indicate a massive inflow of 
new money to the marke t, January was a record month- 
,with S 14.1- billion worth of new issues. This slowed to 
58.7 billion in February and was only slightly better in March, at 
$9.1 billion. But the March figure was 36 percent greater than the 
year-earlier month. 

Whether this pace can be sustained is a question that troubles 
some bankers. They suspect that (he move into Eurodollar bonds 
has been a shift to correct the underweighting of dollar holdings 
in international portfolios that developed daring the long period 
of dollar weakness in the late 1970s and early 1980s. But that 
correction is over and, if anything, bankers now think that 
portfolios are overweighted in dollar securities. 

And, these bankers ask, even if the dollar remains strong and 
continues to be bolstered by substantially higher interest rates 
than are available on alternate currency investments, is it reason- 
able to expect accumulation of new holdings to continue at 


anywhere near the current pace? ... 

- Obviously, no one has the answer. But the market’s perfor- 
mance last week gave no reason to believe that a saturation level 
was near. This is because that while the dollar dropped sharply, 
underwriters were able to sell S1.05 bilfion worth of floating-rate 
notes and $525 million of fixed-coupon straight debt. 

There was particular interest in the Council of Europe’s $50 
million of eight-year floating-rate notes bec au se this was the 
agency’s first offering of doDar-denominated securities. National 
Westminster's $400 million of 15-year notes were also well 
received. 

But the terms of the straight dollar debt showed that prices 
now have to be pitched high enough to compete with returns 
available in New York. Denmark, for example, which recently 
sold bonds here yielding 22 basis points over comparably dated 
U.S. Treasury paper, last week had to pay 74 baas points over the 
U.S. government to launch its $200 million of 10-year bonds 
bearing a coupon of 12 percent. (There are 100 basis points in 1 
percent) 

Likewise, General Foods — which earlier this year could have 
sold paper in the Eurobond market at below what the Treasury 
was paying — paid 21 basis points more. Its $75 million of five- 
year notes were offered at 99% bearing a coupon of 1 1% percent 
Even so, placement was not easy and it ended the week trading at 
40 basis points higher than Treasury paper. 

First Federal Bank of Michigan, which offered $200 million of 
(Continued on Page 9, CoL 1) 


)i7~x.Feb =: '■» 

IlH'CVTr < 

T 

rt-ji;*.- •: . . 

r.vofv;' Jj 
ir-z ;; i. ; :■ ; £ :• 

\VaU.s ^ 

! fe!£ '§:M 

!£J, : : . .. i. 


Last Week’s Markets 


AH figures are as of dose of trading Friday 


Stock Indexes 


United States 

LMim. prwJWt Ota 
DJ Indus— U64W 1*7-6 — M»% 

DJ UHL 15111 T626 +16% 

DJTrun*.__ 40108 59488 +125% 

S&PI00 17114 175.13 +057% 

SAP 500 10054 177J54 +08»% 

NYSECp— 10440 10145 +088% 


Money Rates 


United States lwvmc. *•*:*». 


JuwftmfaiU/Bodfcjtavflte 


Discount rerte 

Faderal funds rote— 
Prime rate 

Japan 

Discount . 

Co 1 1 money — 

60-dov Interbank — 


8 8 

8 U 811/14 
10% 10% 


FTSE 100 U7450 1J0O.TO —158% 

FT 30 94580 98750 —224% 


LamUard 

Overnight 

1 -month Interbank — 
Britain 


Hang Seng- 188284 786089 +157% 


Japan 

Nikkei DJ— 1258074 125(240+020% 


Bonk base rate— — 

Coll money — 

3 -month Interbank— . 


13 13% 

13 14 

13% 135/14 


WestGenmny 

Commend* 128050 122240 —329% 

Seme: Jems Qems Co* union. 


Dollar untune piwjml arai 

Bk Engl Index — 14550 14980 —140% 

Gold 


London gin. Ox. S 3292S 31550 +484% 

ftaktnf ix*l<*i*i 6 — CmotStmieJmes Q weL 


Currency Rates 


Mazda 

Postpones 

U.S. Plant 


Canada Moves to Spur Oil Output 


Pact Reached 
To Ease Drillers’ 
Financial Burden 


No Link Is Seen 
With Quotas 


By James Risen 

Lot Angela Tima Service 

DETROIT — Mazda Motor 
Corp. is indefinitely postponing the 
construction of hs first U.S. auto- 
assembly plant, outside Detroit, 
and might abandon the project al- 
together, Mazda officials said. 

The Japanese concern said Fri- 
day it was delaying the April 24 


groundbreaking ceremony at the 
Flat Rode, Michigan, site after the 
federal government's decision on 
Thursday not to issue a S20-million 
urban-development grant for the 
project. 

Mazda also said the $450-million 
project's fate has been threatened 
by the inability of its Japanese 
building contractor to win conces- 
sions from the Detroit Building 
Trades Council, which represents 
the construction workers who will 
build the plant. 

U.S. government officials in 
Michigan said that they did not 
believe that Mazda was having sec- 
ond thoughts about the plant be- 
cause the US market would be 
more open to Japanese automakers 
starting Monday. 

“We are trying to keep away 
from associating ibis with the Japa- 
nese decision to let more cars in,” 
said Walt Sanders, an aide to Rep- 
resentative John D. Dingell, Demo- 
crat of Michigan, whose congres- 
sional district includes Flat Rock. 
“Mazda hasn’t said anything to us 


billion worth of issues. 

The total volume dwarfs the $8.4 billion that Orion Royal 
Bank es tima tes was available for reinvestment due to interest and 
principal repayments. This actually understates the situation 
because man y issuers took advantage of market developments — 
especially in the floating-rate market, where borrowing costs were 
dramatically shaved — to prematurdy redeem more expensive 
outstanding debt and replace it. (The volume of Eurodollar 
FRNs jumped 65 percent from the pace set in the first quarter of 
last year.) 


about withdrawing (their plans for 
the plant) on that bans.” 


the plant) on that bans.” 

“It has nothing to do with quo- 
tas, and I’d be very surprised if the 
project doesn’t go ahead eventual- 
ly,” the mayor of Hat Rock, Ted 
Anders, said. 

A Mazda spokesman, Ron 
Hartwig, said the federal subsidies 
“or their equivalent” are “critical” 
to the future of the plant “Unless 
an acceptable agreement is reached 
with the Building Trades Council,” 
be added, “the project can't go for- 
ward.” 

Mr. Hartwig added that Mazda 
executives would meet in Japan 
this week to deride the future of the 
Michigan project 

Mazda's Hw^unn came as Japan 
raised its U.S. auto-export quota by 
24J percent for the year starting 
Monday. For the past four years, 

(Contmoed on Page 9, CoL 1) 


U.S. House Unit to Audit 


7 Pentagon Contractors 


By Wayne Biddle 

He i» York Tuna Service 

WASHINGTON — The U.S. 
House Armed Services Committee 
said that it would audit seven 
weapons producers as part of an 
investigation of contract work for 
the Department of Defense. 

The committee said on Friday 
that the companies were chosen 
only because they represent a 
cross-section of the industry. They 
are General Dynamics Corp.; Sper- 
ry Corp.; Newport News Snip- 
birilding& Diy Doric Co., a subsid- 
iary of Tenneco Inc.; Bell 
Helicopter Textron Inc., a subsid- 
iary of Textron Inc.; McDonnell 


the companies turned up by the 
House committee would be given 


House committee would be given 
to the Justice Department 

Meantime, an air force spokes- 
man confirmed Friday that the ser- 
vice intended to notify General 
Electric Co. that its suspension 
Thursday from bidding on new 
Pentagon contracts would extend 
throughout the Executive Brandi 
of the government including the 
General Services Administration, 
which manages government pro- 
curement activities. 

Larry Vaber. a spokesman for 


GE, said backlogs in major projects 
would cushion the overall effect 


Douglas Corp.; Rockwell Interna- 
tional Corp„ and Boeing Co. 

For the auditing project , which is 
expected to take about 45 days, 14 
auditors from the Pentagon’s De- 
fense Contract Audit Agpcy and 
the General Accounting Office, the 
investigative aim of Congress, have 
been assigned to the committee. 
Their focus will be overhead costs 
billed to the government, a subject 
oS intense interest since evidence 


arose last year oi improper oimngs 
for entertainment ana personal 
travel by General Dynamics execu- 
tives. 

Last Monday, General Dynam- 
ics said that it would voluntarily 
withdraw $23 million out of $63.6 
million in overhead charges ques- 
tioned by Pentagon auditors for 
1979 to 1982. The company billed 
the government for $170 million in 
such expenses during that time : 


would cushion the overall effect 
He added that, in aircraft engines 
alone, GE had a $6.9-billion back- 
log at the end of 1984 that would 
cany the company through the 
next five years. 

The backlog was up from $5.5 
bflHon the year before, he said. 

In the fircal year ended Sept 30. 
1983, GE hdd more than $4J bil- 
lion worth of contracts from the 
Defense Department, employing 
65,000 of the company’s 330,000 
employees. It is the founh-rankiiig 
Pentagon contractor. 

Pentagon officials were unable 
on Friday to name specific projects 
that might be affected by the sus- 
pension, which was announced on 
Thursday by Air Force Secretary 
Verne Ott. But an air force officer 


familiar with the company’s work 
suggested that GE would fed some 


suggested that GE would fed some 
pressure if the suspension contin- 
ued toward bidding this fall on an 
advanced fighter-engine program. 


Late interbank rates an March 29, excluding fees. 

Official fixings for Amsterdam, Brussels, Frankfurt, Milan, Paris. New York rates at 
4 P.M. 


S I 

* — Ur dus UB2 42M 

BnoMtlnl 4287 7453 

FrwAtert 3893 3845 

UmOen IU 783* 

Milan 187980 284550 

HwYoriclc) 1545 

Forts 9X27 11X25 

Tokyo 25055 311X3 

Zorich 2X3 323S7 

1 ECU 05271 0584 

ISM 0591273 959748 


SJ=.. Yen 
13259 "13M8 V 
2X74 244** 
118.10 *12295 • 

38315 310.48 
730-55 7881 

254 35050 
3X0 3J4B- 
9S74 

18414 * 

18959 182213 
25M7 250296 


Economy Slowed Last Month, 
Says U.S. Purchasing Survey 


The Associated Pros 


Dollar Values 


Kettr. ^ U5J 

wow AudraUaxS 1X253 

uia Anmmiemiaa 21 x 3 
UU KsMesIte. franc 4150 
83305 f Marti » U49 

OMi tonMktam IUM 
oisn nuidinmw tut 

MJ72 QwfedradUM 138X1 
W* Hone Kangs. - 77* 


Enolv. D,ra,CT 
1807 (rilhc 
08012 IsranffJNtel 
33014 Knuafli dinar 
03918 Maur-rtapnlt 
01126 Nnrw. kroon 
08542 ted. Rent 
08057 fart escudo 
02774 Snidl rival 


Emit*. eonwW u&s 
0X535 HuaparaS 221 
053 S. African road 1J847 
03612 5. Kenan **n UBX 
48058 Sana. W W W 17290 
01121 saaLkTonn 192 
08253 TnteonS 3957 
08363 TAolbCftt Z752S 


02723 UJULilIrtwni 1*725 


■Slsrfeg:U 2 B|ri|tit 

lol ComninrcM franc (b) Amounts wnded to bw one pound {el Amounts nnndnd 10 taiy one dollar (• 
Unite of no (x) Units oil 800 tv) Untteai 10800 

Nil: wqwtedr N A: not aval loMe. a-*-- 

Soon+iaanneituBeneUu (BtVSSUsi; Barca CmnrmxM e <te/ fa»w (MMBam* 
Hatkmte dr Pads (Parti); IMF tSD*>J BanoueAntm at Internationale iflnvestiSS*™™ 
hOnor, rlypL tHrbem). oner data from Reuters atdAP. 


NEW YORK— The U.S. econo- 
my pulled back a bit in March, 
after improving during the first two 
months of the year, the National 
Association of Purchasing Man- 
agement said Sunday in its month- 
ly report. 

The purchasing managers' com- 
posite index — a leafing, or for- 
ward-looking, indicator — fell for 
the second consecutive month, fie 
association said. 

New orders dropped slightly in 
March after a healthy increase in 
February. Inventory levels de- 
clined, mirroring a similar drop in 
production, fie group said. 

For the fourth consecutive 
month, managers reported more 
price deceases than increases, h 
said. 


And in answer to a special ques- 
tion. 40 percent of the managers 
said fiat the first quarter fell below 
their expectations, while 18 percent 
said it exceeded them. 


Although the economy per- 
iled wen in fie first quarter, we 


famed well in fie first quarter, we 
must be concerned with the drop in 

ite SdcJ,” sudUofot f°Breit 
director of corporate purchasing 
for Pitney Bowk Inc. and chair- 
man of the group's business-survey 
committee. 


UbaAaf a Op era ting Mg* 

fares baud on count done 
during the Aral weak erf 

-400 


Argentina Sets 
Wide Reforms to 


By Douglas Martin 

New York Tima Service 

CALGARY, Alberta — An 
important agreement between 
Canada’s federal government 
and the three oil-producing 
provinces has given new impetus 
to an emerging revival in oil ex- 
ploration and production. 

The accord, reached last week, 
comes at a time when Canadian 
oil executives are spending wain 
after several slow years, ana in- 
deed may well have been antici- 
pated by these executives, who 
felt fiat the new government of 
Prime Minister Brian Mulroney 
would lessen the industry’s fi- 
nancial burdens. 

The reasons for the rebound, 
experts say, are better domestic 
and foreign markets for Canadi- 
an oil ana gas, and more attrac- 
tive drilling prospects than those 
available in the Vnitcd States. 

The evidence of recovery in- 
cludes record drilling opera- 
tions; speculators lining up to 
buy land for exploration, ana ex- 
tensive capital -spending plans. 

And there is evidence on an- 
other level in Alberta: a booming 
limousine-rental business, busy 
luxury restaurants, and talk that 
another skyscraper or two will 
soon sprout from fie prairie. 


The index, seasonally adjusted, 
fell to 47.7 parent in March after 
having slipped below SO pocent, to 
49.7 percent, in Febniaiy. Last 
month’s level was the lowest since 
the index was at 46.9 percent in 
January, 1983. 


rrir\. 


Pacify Creditors 


Las Angela Times Service 
BUENOS AIRES — Argentina 
has imposed sweeping tax and oth- 
er financial reforms in a renewed 
attempt to come to terms with its 
international creditors. 


SoworONWM* I 


wn sprout from the praine. 

It all recalls the happy days of 
■e late 1970s, when there 


Ths NptfVorii Tina 

An oil- and gas-exploration rig drilling in Alberta. 


seemed to be no top to fie price 
of oil. 

But in 1980, worldwide petro- 
leum prices began their long 
slide. For the Canadian oil in- 
dustry, that situation was made 
worse by new provincial royal- 
ties and taxes by fie federal gov- 
ernment, instituted the next year, 
that were regarded by fie indus- 
try as somewhere between un- 
seemly and larcenous. 

In last Tuesday’s agreement, 
fie federal government and fie 
country’s three principal oil- and 
gas-producing provinces — Al- 
berta, Saskatchewan and British 
Columbia — sought to ease that 
burden. 

[Details of the agreement was 
disclosed in Parliament on 
Thursday by Oil Minis ter Patri- 
cia Carney, Reuters reported 
from Ottawa. She said oil prices 
would be deregulated as of June 
1 and would be determined by 
market forces, and sbe an- 
nounced the abolition of many 
federal taxes on the oil industry. 


including export charges on 
crude off. Sbe said a new pricing 
policy for natural gas would be 
introduced on Nov. 1. 

[The new policy effectively 
dismantled much of fie National 
Energy Program introduced in 
1980 by Pierre EDiott Trudeau, 
the prime minister at the time a in 
a bid to lessen foreign domina- 
tion of the oil industry. 

[Bernard Isautier, chairman of 
fie Canadian Petroleum Associ- 
ation, said the new accord would 
“reawaken investor confi- 
dence.”] 

“It meets every concern on 
matters of principle that Alberta 
feds strongly about,” said John 
Zaazrmy. energy minister of Al- 
berta, which produces 85 percent 
of Canada's oil and ga* Alberta 
has been particularly critical of 
fie revenues tax. 

Statistics indicate that tbe re- 
covery was well under way be- 
fore the accord. Last year, a re- 
cord 9,149 wells were compl eted, 
up from 8,965 in 1980, the previ- 
ous record year. And there has 
been a 27-percent improvement 


in fie first two months of this 
year. 

Land sales, the surest barome- 
ter of future activity, rose to 
$91.4 millio n in fie first two 
months of 1985, from $60 mil- 
lion in fie like period a year ago. 
Seismic studies — an early phase 
of oil exploration — have also 
increased sharply. 

*This is an industry fiat is 
poised for a significant recov- 
ery," said James Gray, executive 
vice president of Canadian 
Hunter Exploration Ltd, which 
is planning to raise its drilling 
expenditures to $108 milli on this 
year from $72 milli on in 1984. 

The only real obstacle, Mr. 
Gray and others in tbe industry 
said would have beat a failure to 
reach a new energy accord 

"Not to deliver would be a 
serious thing,” C. William Dan- 
id, president of Shell Canada 
Ltd, warned 

Now. fie industry is expected 
to spend rigorously. In a recent 
survey by Nickel’s Daily Oil Bul- 
letin. a Canadian trade publica- 
(Coutmned on Page 9, CoL 2) 


Tbe new measures, announced 
Friday and implemented Sunday, 
were acompanied by stiff increases 
in fie prices of baric services. The 
measures were designed to increase 
tax revenue and discourage specu- 
lation. They followed pence raids 
Friday on Buenos Aires exchange 
shops suspected of trading in 
black-market dollars. 

Amid accelerating inflation and 
a budget deficit that is sapping the 
nation’s economy, the civilian gov- 
ernment of President Raul Alf on- 
sin bas failed to meet mwnmir 
goals agreed to wifi fie Interna- 
tional Monetary Fund. These goals 
were a preliminary step toward re- 
negotiation of Argentina's foreign 
debt, which totals about $48 bil- 
lion. 

Financial sources in Buenos 
Aires said that the IMF was to 
withhold about $400 million due 
Argentina Sunday as part of a $1.4- 
birnon standby agreement reached 
in December. Neither will the for- 
eign hanks , most American, that 
are Argentina’s principal creditors 
disburse any of fie $4.2 billion in 
new money fiat they pledged as 
part of payment-rescheduling. 

As a result, Argentina was to fall 
into arrears Sunday on overdue in- 
terest payments of about $1 billion, 
tbe sources said. 

The Argentine treasury said that 
under the government’s revenue- 
raising program, tax receipts 
should increase by about 25 per- 
cent through increases in income, 
profits and stamp taxes, tbe reim- 
porition of an inheritance tax and 
fie waiving of bank-secrecy laws 
for tax inspectors. 

Under the stabilization program 
directed by Economy Minister 
Juan V. Sonrrouilie, fie govern- 
ment will also seek to restructure 
financial markets, where specula- 
tion has been rampant 

The steps ban the use of unregis- 
tered middlemen in trading, forbid 
the use of driOar-denommated gov- 
ernment bearer bonds as collateral 
in loans between companies, and 
restrict centra] bank guarantees on 
bask deposits. 

As a tool to promote savings. 


interest rates were increased two 
percentage points a month, to 24 
percent a month. 

Wifi tbe tax and other finan cial 
steps, come price increases effec- 
tive Sunday of 25 percent in gaso- 
line, 23 J percent for taxi fares and 
35 percent for bus fares. There was 
no mention of the explosive issue of 
salaries. That will come within the 
next few days. 


China Raises 


Rates in Attempt 
To Cool Inflation 


Conyiled by Ovr Staff From Dispatches 

BEUING — The People's 
Rank of Phtna said Sunday that 
it would raise interest rates on 
deposits and loans Monday, in 
fie latest move to tighten lax 
monetary and wage policies 
that bad started an inflationary 
boom last December. 


The official Xinhua news 
agency said fie moves were also 
meant to "strengthen the role of 
fie banks in the national econo- 
my." 

Rates on loans for working 
capital will rise from 12 percent 
to 7.92 percent, while interest 
on one-year deposits will rise to 


6.84 percent from 5.76 percent, 
the central bank said. Rates on 


the central bank said. Rates on 
loans used by fie state to buy 
grain, cotton and oil-bearing 
crops will r emain lmrfiangmi, 
the bank said. 

Government officials said 
last Wednesday that tbe gov- 
ernment's new economic poli- 
cies had allowed the economy 
to overheat towards fie end erf 
last year and in early 1985 by 
triggering sharp rises in credit 
and wages. A monetary and 
wage cTampdown was an- 
nounced. A large amount of 
money has been withdrawn 
from fie economy in the past 
month, the government has an- 
nounced. 


If the new rates are also in- 
tended to help small savers off- 
set inflation, they confirm a 
greater increase in fie cost of 
living than the official 2.7 per- 
cent annual rate reflects. 

(Reuters. AP) 


Any evidence of wrongdoing at 


US $100,000,000 


A 


American Airlines, Inc. 


Asset-based Private Placement 


Two Boeing 767-223 Aircraft 


the undersigned initiated the transaction, 
introduced American Airlines to the investor 
and acted as exclusive financial advisor to American Airlines 


BANQUE PARIBAS CAPITAL MARKETS 

Paris London New York Tokyo 


London 


New York 




January 1985 






r 


\ 


A, 


Page 8 


INTERNATIONAL HERALD TRIBUNE, MONDAY, APRIL 1, 1985 


International Bond Prices - Week of Marh 28 


Provided by Credit Suiase First Boston Securities, London, Tel.: 01-623-1277 

Prices may vary according to market conditions and other factors. 


VMM 

Middle Ave 
Met price Mat UteCrar 


(Coatrnued from Page 6) 



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dm 10a 
dm 140 
dm MO 
dm IB 
dm IB 
CM 109 
dm HO 
dm no 
dm MO 
dm IB 
dm IB 
dm 108 
dm 73 
dm 75 
dm MO 
«Tl 15* 
dm 40 
dm 73 
dm 40 

M 

da 41 

il 

dm 190 


Denmcrk 

Denmark 

Dwxnart 

Denmark 

DeamcrK 

Denmark 

Denmark 

Denmark 

Denmark 

Denmark 

Oenmerii 


Denmark 


DawM h 
Denmor* 
Cope msjgui atY 
Copenhagen Oty 
CPPtrangen aty 

5r 


7ft 86 FB UNft 
7ft Y7 May 9951 
C54-B7DK 99 
4 81 Feb 971b 
H "88 Mar 104 
75k V MOV 181 
MltFeb *7 
#14 19 Mur KSft 
. 754 89 APT 101 
75* W NOV 995- 
9ft 10 Mur 105 
8ft -92 Feb M2 
10ft 12 Mar 11m 
■ 13 May m 
7ft V Apr IB 
75*1* Nay m» 
754 V Apr 100 
7ft V Dec 100ft 
4 IONOV 96ft 
5ft 1* Job 103 


... Cay tat 15 Feb 

CapgntaonTeiepnont 7ft V Jan m 
Coaent m oen Teieptxme 7 17 May 97ft 
CapaahoganTelofOnM fftVAPr 97ft 
CosNhhagenTstasQone (ft 19 Jul lUft 
DmDonskeBank IftVNcv DM 

juHondTMe o no ni *fti7ttar 9s 

Jutland Telephone 7ft VF* IB 

Art lend Tewehone BftlB FeO 1B3 

Martgapp Bank Densxirk 7 VJU lot 
Mortgage fiaik Demoark SftlOJul 10256 
Mortgage Bank Denraerk 7949100 98ft 
Mortgage Bank Oenmurk lift 91 Nov IM 
MortgaoB Banfc CMnmark 8ft93Ftb M2*. 


723 784 
7J6 729 
7.1S 7Ji 482 
499 41S 

751 143 
4*4 752 
7X1 620 
7-57 4*3 827 

723 735 
7X2 7J9 
423 9S5 
7J3 109 
7-tl 968 
Mt IM 
7J7 7 a 
757 727 
725 751 725 
7 JO 724 7X1 
482 721 42 
MO 7J3 B25 
757 481 781 
7X7 785 730 
729 783 785 
TV 755 445 
un 89 
781 753 819 
750 124 459 

724 725 725 
722 625 
463 442 *53 
753 827 
8.11 757 
IX* 935 
Ut 127 


FINLAND 


dm IB 
dmut 
dm IB 
dm MO 
dm UO 
an IB 
dm IB 
da UO 
dm 200 
dm 50 
dm 75 
dm 6* 
dm 79 
«i3 
drain 
dmH 
draB 


FTntand 

Flmaad 

FMeed 

Finland 


Finland 

FWaed 
Flnlaod 
Flnkjad 
HrielnktOly 
Hnctrar Volma 
lad Mine Bor* FlntaW 
Ind Stage Bank Flntota 
Roetaniekkl Or 
RautaroukklOy 
Tvo Power Compoav 
Union BcrfcCHF Wood 

FRANCE 


5ft 86 Feb 
MlhVNov 
I VDtc 
7 87 Aar 
7ft V Mot 
954 89 APT 
9 -90NOV 
7ft 91 APT 

7 "9J Jon 
*ft 92 JWl 
I 97200 

8 VDtc 

7 97 Jc! 
554 88 Apr 

8 915*0 
4 98 Feb 
6ft 98 Dec 


torn 

100ft 

99ft 

UXJft 

N454 

BBft 

9954 


97 

law 

77ft 

98 


491 U1 

725 1405 

7 JO 7JB 

727 733 754 
721 78* 

723 9.13 

72* 725 

735 732 

787 723 

820 800 857 
SB 4J6 789 
491 441 738 
7.10 7J7 702 
459 750 193 
723 7.« 

489 733 41* 
7.12 7X5 U3 


Aeraport Of Ports 
Benoua Franc Com Ext 



114 92 Dec MSft 
7ft97J® MOft 
7 87 FrO HDft 
55tVJan Mft 
9ft 99 AuO KBft 
114 90 Jut WTft 
IftVteo 101ft 
(ft 95 Jon Itrift 
75. 90 Mor KOft 
75*-90Mor law 
IftWJdl M Oft 
T VAor lift 
M9*Aug Mils 
■ 93 Jon Ml ft 

8ft 93 Oct 100ft 
61. 97 Hoc 9511 
fft92JUM MMb 
75491 Feb KOft 
I 91 Mar Ml 
7ft 77 Feb W. 
ift-ygjui N2v> 
754 92 Apr 100ft 
■54 92MOT 11*14 
4 9700 «Bft 
tVi9*Feh Milt 
6ft 98 Nov 101ft 
**■92 Sea ids 
R ltioa B33 
lft9SMay TOft 
75490 Apr HO 
Hft VJlrt HD 
I 90 Jun 100ft 
7W96Aor 100ft 
7ft 93 JUl MOft 
654 92 May 102 
7ft 99 Mar 1 00 ft 
8ft 93 Dec MIA 


71* 726 107 
7X2 721 
489 634 497 
7 26 J£S 557 
774 12* 

736 803 
7JI 600 
7J9 730 600 
73* 789 
734 789 
Ul 722 184 
7X5 7X 7J1 
738 800 

727 750 
7J2 73J IM 
7.10 6JJ 
627 8*2 

728 723 
77* 751 
755 785 
770 667 
7711 773 
75* 839 
424 721 All 
752 810 
785 811 
7.95 1*5 

737 819 
U9 225 844 
725 725 
813 195* 
7JI 75* 
723 702 7 A 
733 7 JO 7J4 
624 819 184 
733 70] 741 
7J7 704 800 


GERMANY 


dm IB 
On IB 
on 609 
on 411 
dm IB 
dmra 

dm 230 


dm 230 
dm 30 
dm IB 


Audi Finance 
Bayar Capital Carp 
Barar Capital Cor W/w 

Barer 555 Car 3(/w 

DcltaUr-Bera 
Degusea Inti Fki 
Drgjdoer Finance W/w 

Drasdaer Finance X/w 
Dratdaer FlnonceW/w 
Oraidtw Flnanc* fc/w 
Ikitndl Flaaacg 
KaoBaf FI nonce W/w 


75k 9* Feb 
7H99NOV 
2ft 95 Fab 
25* 95 Feb 
I 96 Nay 
7Vb9*F«b 
* 99 Jim 
4 99 Jun 
I 92SfP 
I 92 Sea 
I 91 Jul 
3ft 9* MOV 


**54 
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70 

100ft 

100 

107 

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127 

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182ft 

9*54 


7X1 M* 

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738 1»J 

730 741 70* 
7X1 7J9 

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441 447 

& 4 

7* 708 

7^ 7 JO 

34* 3Jt 


CONVERTIBLE BONDS 


Price —CBB*. Period— 


Curr 

Cem.YMs 

—Coot. Price p/sh— PniLShft 


EUROPE 


*57 

in 

SB 

f»? 

SUM 

J700 

551 

525 

525 

11 in 
525 
523 
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1100 
*35 
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575 
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5*9 
550 
5128 
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J2S 
1120 
111! 


AgaAb 
Akm2980 
Ahnutme CaoH 1708 
Aiunune inh 
Amro Book 65.93 

M Arm*, Ml — *— — ■ 

A*vra ee* T I r*CUC> MW 

Bbc Brawn BoyeriU* 
BbC Brawn Bowemun 
Beec^nm F VI 339 62 

Boots Co Ltd 

CUxhGehrr O/J20O 
Credit Usst Bahomos 
CradH Suisse Bcdxtmgs 
Eiectrownfl Finance 

£nrWdNv*L» 

EsseNe *b 
GervalsQanona 23 
Hanson 0/lRnance 
HraaonOtsFinanct 
Hooaavera3*82 
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10 inti Fhi 12*27 
incncnpeBerirai ISI2J 
Indiana BarmuTXZT 
lacanhoaQ/sSJX) 
intenlMD O/l 1040 
Metropolitan Estate 

Mcet- Hen n e sevAtS 

Rank Orgomsai 4(04 
■tointnoni Inti M81X8 

Sondir FbimoeiOo 

|mtat0/5i45 

SandvlkAb37* 

Slater WolkerJHxS 

iunmtlkmee 

Survefllonc* 

Swiss Bata CaO/j 
Taylor Wooaraw Inn 
7/taat IWI Finance 
Uhs daambaural 140 
UbupQoomoi 1100 


123ft 1 Feb 82 
92ft iSene* 
74ft 1* J0061 
8eft 1 Sen 69 
179ft 1 Jan 70 
89ft T7AOT7B 
69ft 1 Jul 79 
93ft 1 Feb 8* 
13J is Sea 71 
95 lFObta 
130 SSeaT* 
*3 10 Jun 77 

77ft 1 00 79 
11 170063 

108ft 15 Jun 71 
in 13 Sep 79 
1*1 15 Sea 72 

347 15 Jen 61 
277 1 Aug 81 

87ft 1 Jan 19 
lMft OOB54 
109ft 1 May 71 
79ft 150077 
73ft 15 Feb 81 
184ft 2 Apr 79 
DO 10081 
8Ft IFebGT 
10* 2 Jin IS 

42 14F*074 

127 1 Jen 73 

1U 700(3 
171 210077 

151 2J0I7I 
86ft 1 Jan 73 
«» iJuin 
Itft 1 Jull* 
34ft 1 Sap 88 
94ft is Jun 11 
as }Nn7i 

725 1 Jun 77 
08 1 Feb SO 


15 Jun** tar 178- tar 786^16 
maturity ui 121 J8- mi now* 
maturity 5 SB 5/9 

maturity 512211/4 

31 Dec 61 hfl*QJQ» hfl 48417 

IS Sep 92 B113-P1830U 

matartly S200J^ 

moturlty SM6 

18 Aug 93 0169-034*471 

I Join U 108 - p 169212 

molurity 5673 

molurirr swno 

ITKUUrltV ITTB 

27 Jun 96 soa_ 

maturity hfl 5801- hD 83602 

S Mar 99 ckr 153 - skr3UJB3 
ttT36*.10Q 

oa-pssj*o 
040 - D 72.119 
hfl 91 -Wt 97219 


70093 

700*6 


100 ** 
158P97 
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15 Jut *5 
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15 Dec 95 
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0*40-0664365 

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5240 
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p 23* - 0*70.173 
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O 67 1/2P 1X1/3 
l*S 
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B«or88«kr 30140-5 42.13 
14 MOV 17 P 113 - P247J8T 

maturity SiBH 

maturity SI 930 

maturity jjoo 

1 NOV 91 0 247 - 0*91.752 

IB Jut B o 2*8 - p 5*197/ 

maturity sms 

maturity 5782/3 


matarlty 


7X1- 1J5 
211 X49 
**B 9*8 
«U1 941 

6.11- *17 

1X9 406 

3*40 22S 

1.12- 123 
1204- 2X7 
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1778 *56 
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1348- 250 
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5*1- 203 

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127- 2-99 
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4.92- 30* 
IS*. 701 
241- 10* 
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11450 222 
1305 IX 
707 IX 
2351 136 
Z7X 671 
11W 2JS 
446- 271 
993 177 


JAPAN 


IX 

5* 

540 


IX 

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SM 

580 

SB 

IB 

SM 

150 

5*0 

115 

SB 

1*0 

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580 

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573 

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560 

515 

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180 

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570 
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s*a 

1188 

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SX 

SJO 

5X 

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Aiea Enainttnna 5ft taMar 

Minamata Ca TtaYSMor 

AtinamokiCa SftVMar 

AJInamotaCa 2 YfMar 

AnhlOstkalCa 7 VMor 

Alla Co 5ft 73 Jan 

BrktoetaoneTIreCo 5ft 74 Dec 

Conor Inc 6ft 74 Dec 

Canon Inc 6ft 75 Dec 

Canon me 7 77 Jun 

Da N/oppi Printing dftXMav 

DaWinc 4ft74 Aug 

DaMpoai ink Chemico6 "taMar 
Deiwa Home indutirv 7ft 71 Mar 


>4 


Da hm Securities 
Darun Scam tin 
FanucLH 
Firtttjulta 
FuilftuUd 

Hitachi Credit Cara 
HlncniLM _ 

sssssssts 

KaadB Molar CD Ud 
Ha-VakadoCaLta 

ssgts 

JuKeCaLfa 


5ft 7*501 
5ft 78 Sea 
3ft "98 Sep 
5ft 74 S® 
3 79 Mar 
5ft 76 MOT 
fitaSga 
5 7*5*0 
5ft 74 Mar 
5ft "89 Mar 
5ft 77 Feb 
SUTSFeb 

S* 73 Aug 
TftVMar 
5ft 76 Mar 

77 Feb 


Jk Victor Camp Japan 5 77 Mar 


- 7js*p 

3ft 76 Mar 
7ft 76 Jun 
4 71 Apr 


gg^4 

Manri Cplm 
M oral Ca Lid 

ManPCaUd ... ..._ 

MatsHtuta Elec Indus 4ft 70 Nov 
MotwiMta E led Warns 7ft 7S no* 
MlneceaCULW SlkVSea 

Mtaatto Camera Ca 7ft7SAtar 

ggsg“ ' 

Mitsubishi Etertr Co 


7 7t Feb 
4ft 77 Dec 
*ft79AU0 
61b 71 jan 
6 76 Jan 
JVjTS Jc 


S 7* Mar 

4ft 71 Mar 

4 72 Mar 
616 7* S*p 

5ft 7* Mar 

5ft 71 Mar 
2<bVMar 


MUsuthhl Heavy ind <ft7*Mor 9H 


Mitsui Heal Etaote 

Vjrsul Reoi 
Munrto Maratecturtne 3ft 7* Mor 
Murata Manutocnirtne SAVMar 


79**00 Mar 
7ft 76 Mar 
5ft 77 Mar 
4 T*3» 
4ft 7* Mar 
5ft 71 Mo* 

3ft ti Mar 
7ft 74 DO 

3ft 79 O0 

5ft 71 Mar 
8 76MBT 
6 72 Sec 
6 745*0 
5ft "96 5*0 


NecCaragroHen 
NHoalo Englnetrlng 
Nlapoa Electric 
NlsMnKmtav 
Nippon Koken 
NtaPOnOH 

Nippon 0.1 
Mapan Seiko 
Nlepen Seiko 

Nissan Matgr 

NigmaiwaiCBrn 
Nltto Electric Indus! 
ttltn Electric Indbsf 

NinaEieancinduti 

NV> Line Nippon Yustn7H V Mar 
au Electric ift 705*0 

aiynrne Optical Co 
One Pharmocguttccl 
Ortenl Fmonct Co 
Orient LtaiHa Co 

We* Co Lid 

Sacevo Electric Cs 
Sanyo EledrkCa 
Secern CaLtd 
Secern Co Lid 

isr' 1 " 

Sumitomo Corn 

Sumitomo ElKtrle 
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SuthitaraiMWindulIT 7 SS*p 
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T gkadsRikeoCoLW BkHOMgr 
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TafcvvCara tftTjjra 

To kraL rodCorp »vmS- 
Tatadba Ceramics Co SftTeSeo 
TssnlboCerp 7U7«Sga 

TovtaMMka ICOetna 71476 Mar 
WaualCora 4 t*auo 

rantacniSefttfiHn 5 viSST 

TaraarawOuPtkjrmo 4 to Dec 


6ft 77 00 
3ft 78 NOV 
5ft 77 Mar 
f*. 71 Sea 
6ft 75 5*0 
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5 Y4Kov 
5 7(Nov 
3ft 79 Nov 
3 m Jon 
n no Feb 
2ft 79 mot 
S ftTTfAor 


10011 
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124 ft 12 Jul 61 
91ft X Aar 64 

91 1 Now 79 

77ft 15*78 
106ft 1 Mar 83 
32ft 23 Aug 7* 
206A 5 Jan 61 

2ITVJ 1 Join 
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13 mart* 
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113 16 Dec 81 

177 10083 

170A 5 Jan 14 
168 IJ0I1 

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97A 15 JMH 
134 ft 8 Feb 82 

71A 14 Jul It 
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2*i 27 Junta 

Blft INOVK 

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211 1 00 77 

781A 05*081 
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93A 250a 63 
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IMA I JW 74 
141ft I Jul 81 
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471ft XNev/s 
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120 1 MOV 76 
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121 X May 82 

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20 Mar 9* 
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MISCELLANEOUS 


**l2 SSUJSSIieSl! 41 * it, KAerll Maturity enl2imerl2A3*l 

VS U 1152+!! 5SJ n S*» M 7 Jgita Pus3i97aasi*a 

il S^gggg-l'iiA jWtyjfff S’* , .S W ! 1 MJUIM lUIIBBtRll.1® 

>» Rona Scttcliaa HI 3s IbVMor H7 1 Sea 3 1 31jai86 ma 5875512'* 


ft MOt 


MI6 

price — Cony. Ptrigd— 


Coav.Yi® 

-Ceor. Price arts- Prvsbft 


UNITED STATES AMERICA 


515 

5*a 

5M 

5*0 

IS 

SB 

559 
SX 
525 
570 
1*0 
SB 
525 
825 
525 
525 

535 

17 

115 

SSI 

SB 

540 

SM 

sin 
525 
SJO 
515 
521 
in 
dm 718 
61 
III 
SIS 
SB 
515 
Sll 
SB 

529 
IX 

560 
575 

in 

550 

115 
IB 
575 
SIS 
SB 
548 
SIS 
J5D 
550 
550 
550 

116 
525 
550 
829 
SU 
520 
SB 
sx 
SB 

530 
5*0 
560 
SJO 
530 
IB 
515 
SIS 
JJS 
SB 
SB 
12S 
550 
SB 

57 

II 

II 

II 

I 

1 


A4krCB0WOPh 12B 
Alaska Interne *2X3 
American Can 1709 
American Eares 3101 
American Medico 
American Motor Wl 55 
American TobotrSUa 
Ami incnrnW.M 
Aooch* mil Fin *U4 
Bankers Inti Lu 3413 
Barnett 0/s Fki 250* 
■eatric* Foods $7 J* 
Beatrice FocdS *302 
Beotricv Foods 1SJ1 
Beatrice Foods OM 
Blocker Energy *&77 
Broadway-Hale 3* 10 
Carrier O/s J*/Q 
Cde Central Dei IASS 
Charter loti FI 2D-51 
Chevron O/s FmM07 
OffYUer 0/31413 
Grater 0/s Mil 
Corad Inh XX* 

CenHTgitali42.il 
Crutcher Fkwncax* 
Cammus W Ftn 1835 
Cummins let F 01 77 AS 
Damon Carp 1175 
Dontsctie Teuco SJ8 
DkAsdlme loti 34.1# 
Dtotax Flnteice J3J0 
Dmale Ura n Int 61J3 
Eerirean Kodak 11X2 
El EceLebo Int 31.98 
Elaaraa Memart 2*JB 
Estertlne fall 2501 
Fad Dea Stares 2*0* 
Feddirg CONW2I.U 
FlrastaneOBMW 
Fort Mil Flnon24J8 
Galaxv Oil laV 5063 
General Electrl 3877 
Genesca world Z60] 
Gillette Camp 1493 
GHWttoO/yFI 18X3 
Grace Wr O'* 17. *5 
GrearV*DHrn30J0 
►Wttoerfch Pottw 1702 
hoi War Irate 2857 
Hareywefl Capil 1447 
I na O/i Fioaoct 3873 
Ina OB Finance Z3JI 
Inti Stand Elee 1890 
Inti Stand Elec 15X5 
lnfl Stood Elec 17.1* 
mil Teftphone 1765 
inferconl HoW 8U0 
lee FtaHoHflno 3*02 
fttShraoteniaJS 
fcaiger Aiumimun *3A2 
Kidd* Waiter 31 J9 
KJnacr <pre intB-07 
Lear Pyrrol Lac *206 
Lear pytrei locum 

Ltv InH 5407 

Mario# Midkxd 2590 

Marten ion HP 47X0 

BtaaiMtOtlUl 



JaO/ 

-I Coal. 

N toff 0/s Fir 2709 
Northern Trirra 33.71 

PenArpyrican 7*34 

Penao Finance 31 01 
Pwmev Je Eurao 18A7 

SS3XSX1& 

Rmaaa coaoei *421 
Rea tat) Dweto 1818 
Reodatg Bates 2701 
Pert* fncern 25. W 
tanmaWsMetolsaJ# 
Sana Industrie 6467 
5cm OnCoxxW 2206 
SeorieiMtcepSASe 
sown Coated* 4105 
smuMansCarpAEi* 
Seethwat /uni 2411 
SaedrDPttrsicsZ109 
Snemr Read Cd 1**2 
SaoRto iatt Fin ITS* 
TwmraCaan>>2U» 
Tapacy Capital 98MI 
Tosco Ivuraaat &XQ 
Teus lnfl AM 4197 
Tlpcn Finance HU 
Tram inu FlnJAta 
Trance lnfl 1403 
Tricon Oil Gas 32J» 
Trw Irtfl Fbtaac IMS 
Uwdr Fbum 28X7 

ukffco inti 4 b SIX 
Warner Lnmtwrt 2DX3 
Werner Lamaal 1424 
Warner Unseen SAM 
Xarae Cara 474 


*ftVMnv 
9'i"*SDec 
*ftVMoy 
*ft VMay 
fftVMov 

6 *2 Apr 
SftVAug 
5 XT Sep 
ftbVJun 
S "84 JlPI 
7ft"WAuS 
7ft *90 Nov 

6ft It Aug 

4VS*ta5w« 

eftUAug 

I’iYSJal 

AftVJun 

4 VOtC 

5 VAer 
I ft "ta Oct 
5 VFeb 
5 *M 
*ft a moy 
7ftY80d 
5*bYIMar 
(ft **5 Dec 
4ft VOct 
1 VAue 

Pa "57 Dec 
5 VMav 
flkVMer 
swesoa 
»V;*9SMoy 
4lb VMav 
4ft 87 Dec 
SftVDec 
8ft "95 Od 

4 ft V Dec 

5 *2 Mot 
5 VMay 
S 68 Mar 
WbVJcm 
<ft"!7Jon 
Jib V Mar 
4ft Y7 D*C 
( "03 Mar 
$ St Aar 
7ft Y6 Jun 
r.yyjori 
8 VOct 
4 VNOV 

4 17 AUQ 
ift-asep 

5 VPcb 
yxvDtc 
6ft "8* Nov 
*ftT7 0d 

7 "84 Jlrtl 
4ft V Mar 
4ft VJlrt 
5 VF*b 
5 VFeb 
4ftVAaa 

8 VJon 
I *9500 
5 VJai 
5 VMay 

y *50d 

4ft V Jul 
8 ** Jul 
5ft VMay 
8’XYSDrc 
7 17 Dec 

5 VJon 
4ft VOCt 
I *5 Nov 
4ft "57 Jun 
SftVOec 

1014 *5 Mar 

7 "taMar 
S*A VSeP 
InYSDec 

6 VDye 
4ft Y7 Aug 
I VApt 
4ft VNOv 
5 VF«b 
I "ft Dec 
flkVAor 
5 VJun 
Sftvoa 
» VMar 
45. VMay 
13ft *7 Aug 
5 VJul 
Ift-taJol 

■ "taDec 
4ftVFtD 
4ft VJlin 
IPYNlter 

lift** Mar 
4V|VJttl 
7ft V Aug 
(14 VMar 

8 "taOCI 
8U "95 Dec 
8ft *5 Sea 
5 VFeb 


125 

VSO 

121 

t2Z 

41 


3* 

126 

1« 

77ft 

talk 

747 


134 


112 

M 

SS 

II* 

SO 

J47 


73 1 Dec 6* maturity 

■ft X Apr 61 maturflv 
taft 1 May 4* maturity 
139ft 15 May 73 maturity 
117 38 Aug 62 maturity 

B 1 Oct 77 maturity 
37# UMdy4* maturity 
13 1 Jun 73 maturity 

78ft 1*00 1! maturity 
297 1 Dec 67 moturlty 

1 Avg 53 maturity 
lJoi7l .maturity 
1 Mar 72 moturOv 
t Apr 73 natturity 
1 Apt 7* maturity 
XOct» maturity 
64ft 15 Jun 73 molarity 
117 31 Jui 70 mat u rity 

63 150c! 61 maturity 

31 5 Feb 10 maturity 

712 1 Aug 61 maturity 

*2 15 Aug 61 molurity 

«ft 15 Dec 68 maturity 
lift ISOcin maturity 
95ft 1 Apr 49 maturity 
* Mar 81 ma turit y 
X Jon 72 mow ltv 
1 Mov 69 maturity 
1 jul 73 mctiffltv 
1 Nov 47 IS APT 86 
lOOM OKtarltr 
73 Feb 81 moturuy 
9 Sep 88 raoturiry 
#9ft 15 May 69 maturity 
Bft IOC 77 moturtfr 
lSJuli* maturity 
7 Aar II maturity 
IS Art ** tratiettr 
U Dee 72 maturity 
71 Deeel maturity 

X Apr 74 OMurltV 

7 May 81 maturity 
IS Jun 73 motor ttv 
_ 1 not *1 maturity 

«ft 13 Jan 73 maturity 
no lMcrtJ nraturify 
97ft I Aug 47 maturity 
taft 28 Dec 63 maturity 
taft e Mar 11 moturlty 
1I7ft 1 MOV 71 mommy 
105 1 Jui 72 moftffttv 

137 1 May 76 JtJuirr 

10* 1 Apr 81 25 Aug BO 

17 15 Aug 68 molarity 

■3ft 1 Jwii# maturity 
84 15 Mov 70 maturity 

■ IS Apr 73 maturity 
14ft 3D Morn maturity 
ta 1 Jong 3 xonle 
■4 1 Fea to maturity 

taft 1 Aug 69 molurity 
10* 1 Sep *9 maturity 

a lSAagU maturity 
17 Dec 79 nwurtty 
lBlik 4 Feb 81 maturity 

Kl 1 FebM maturity 

*1 IS Dec 61 maturity 

»9 5 Jan It maturity 

§ 15 Mar 73 maturity 
ft 30 Sea It motor Hr 
1 Jan ID maturity 
7ft 13 Mar It rwurtrr 
#3 6 Aar 63 maturity 

I] 15 Mar 73 maturity 
*7 I May 66 maturity 
6« II Fean moturitv 
177 IS Jun 73 maturity 
2ft 1 Jwiie mmuritr 
in*. 1 DtcN maoritT 
111 i*jui 13 3Fan 

77 1 Move* maturity 

22 1 Jui It matarlty 

*7ft ! Jui 79 moteritv 
86ft 1 Aunts maturity 
13i aOCIl maturity 

*1 lSJuiTi maanr/ 

90 IMOV6R IWh 

4* JMorP maturity 

9#ft 2 Jon 73 maturity 

*V— 11 Mar 69 m at urity 
V 38 Apr 73 met u rtty 
U2 I Am 79 maturity 

2*7 1 jap 69 maturity 

Mi 7 jwiB 1 mafurUy 

127 1 Fob 73 maiurtrv 

77 INpv63 matortty 

7}ft 2 AerBO mahffltv 

TO* 15 Mar 74 tJWurtty 

taft IS MPT 73 motuiiw 
TCCVJ 1 Marta maturity 

100)4 15 Mov *4 maturity 
■ IS Aar >9 maturity 
70 15 Ok 71 maturity 

H 1600 61 iraturlTy 
31 1 April 1DDC9S 

95*2 MAVPII matortty 
87ft y Fea «i matarlty 
IS 1 Fieri moturtty 
703 IS Mar 86 maturity 
ta 20 Od « maturity 
TOb I Aw 73 maturity 
63 1 Apr 74 maturity 

128 IMavri mot urt ty 
•Oft 1 Jon 75 molarity 


SO 

523X60 
5581/2 
SB 
538720 
581*0 
511 
5521/* 
5231/1 
121000 
S3* S/I 
5171/2 
522 7/8 
929 
5223/* 
5217/1 
1*11/2 
1Z> 

568*20 
1*1 3/4 

I1S53S 

563 

5 nut 

5*87/8 

529019 

5319*4 

15*1/2 

536.160 

5733/* 

dm 170 

#2# 1/4 

S2* 1/3 

5 12030 

594 

5*51/2 

1311/2 

539X67 

541 

6*71/4 

12*3.1 

537X10 

5193/* 

Sd)3/8 

531 

9(7 

IS* 

S5702P 

sn 

IS7J/* 

535 

560 

522030 

SC 

SSltaS 

56*.T33 


156BM 

102 2X3 
Ul 5X8 
AS- 39* 
IS* 392 
*603 
202- 140 
15891 1»* 
«U4 2X9 
839 U7 
•Ob 205 
8 *8- 509 
S07- S0* 
J9- 509 
SO- 509 
476X5 
3157 AS* 
8 » 706 
8107 2J3 
571X7 
18*- 7X1 
4*0* 2J9 

nit 2 i* 

»JI 1X4 
1 2D 749 
107873 
821- 17* 
136 208 
J*S44 104 
*829 7X2 
*75 17* 
53*03 
224- Ul 
27 a SSI 
36.91 JJS 
219 J* 

5107 IM 
309. 437 
36491 
3704 *X1 
53 801 
2592)9 
X7- ixa 
*3307 
•J4 846 
197 AX* 
37.IS ta 
11X3 326 
12. 7 S 8X7 

8 »*. in 
7X4 301 
1X5- 5X7 
U5 587 

S ri 2*2 
*2 232 
*»Jt 292 
*801 in 

130X7 
1308 19? 
3504 292 
SI JO *J6 

S3 

T7C LtD 

an lxo 

*705 

1X31 AM 


SB 1/2 

5411/2 

SC 

1 23 1/3 

5261 <1 

1187® 

*361/2 

529X66 

512X10 

SSlf* 

5S1SS0 

582030 

531 

515X70 

554 

534 

5373/* 

5*3X80 

515 

541340 

nus 

11A1M 

122130 


HIGHEST CURRENT YIELDS 


On convertibles having a conversion premium 

of less than 10%. 


550 Nd Dkeneta 111*04 10ft VJul 
IS SonktaElfttricCa n.’KAUr 
tg 5oub*CaH1 Edl 4101 ftftVAug 
5B SuraHoma Metal lodwo* 7 *5S« 
IB lore Me>*o Koran T^taMor 
1H MwmvtgglMrpylUOg VJri 
IB rnehctB* Senna lil 03 6* "92 Apr 
5B Ino O/i Flnanc* 23JI »WSm 
IS American Media: *121 eft "97 wav 
9 35 Bebcadr ttodwland 7 tlOCt 

|j| P^^rtnmlPtnxl f»«M7 

» f ‘ShS- 

j» kvita 

3— EsiiftAh Tbi VMay 


1021b lHorM 
93 I Aar 80 

Ui 7 JaaS3 

7* 2 Feed 

19 I Decs 

93ft X5M81 

jm 150(977 
199 I Arid 
117 39 Aug 91 

19ft 17 Apr 71 
123ft lFebC 
IS* 9 Sea® 

77% 1 Sea 78 

HO l Moru 

98 1 Ng* 7* 

95 IF«79 

in is sep 7* 


24 Jui W 
3D Mar (5 
mot u rtty 
30 Sec ft 
71 Mar *4 
matortty 

KMar *2 

25 Aug 90 
maturity 
Is See 17 

IS Jen 96 


■Jon 93 
meturttv 
15 Mar** 
I Jui *3 
SMffrl? 


MS L®9 rasno* 

Y 577 JO » 685X17 

S181B 
Y 17570- 301X49 
Y 193 - 226X1 

IBP 

DBS -P 54005 
SC 
13090 

P113 -016134 
Mr 17| - Mr 38036 
172029 

Y 404X0- 478121 

SS8 

YdSM*. WXT* 
ote8-p7»JI7 
Ik* 153 - WJ7U03 


7X9 *01 
07- 107 
U*. u 
*91 125 
3X1. Ul 
07- 9X4 
177 *02 
1*5 SB 
1X4 JM 
IX* AM 
Til- 103 
2M- Ul 
Iff Ul 

1.97 AX4 

891- MO 
SO- S56 
203- 219 


13a- 1.94 
DM 01 



Cm 


ECU 


SUA 

720# 411 


7 a <11 

Oft 

US A® 

MUD 


Explanation of Symbols 


Cmodlgnbanri 

Euraown Currency Unit 
Euraaeaa Unit at Accsurl 
Poond Sttrupo 
QesiscneMani 
KarwePton manor - DM 


SDR 5pcck# Drawing Rights 

r Yen 

LFR LtnMtbavrg Franc 
SFR Swiss Franc 

FF F/encfl Front 


Security 


Mol Price Mat Life Curr 


dm IB KaBfeafFfcMBCiA/w 
drain taeedmer-Hgniboidf 
dm IB LindelrteiW/w 
dm3® VebaMI Finance w/w 
dm3® Veba lolt Ftnanca X/w 
dm2® WkswagenWiFft 

ICELAND 


Bfc VNOV 75M 406 *0* 

etaVMar 99ft 700 7.15 <01 

1ft 1i Dec HI 3® - ul 

* *3 Dec 117ft Ml t* 

* VDec H 7.14 SXQ 

nebiMar #9* 7j* 707 


dmB Icetond 

dm 75 Iceland 


78617 Apr 100ft 7X7 70S 701 
W*2Jon 16534 815 875 


IRELAND 


MOT Ireland 
dm 100 Ireland 
6dmn Ireland 7X503 
drain Ireland 
ranis i reran 

dral® iretaod 
dm IB i refund 
daiisn inland 
dm 000 inland 


HftVDec UHft 70S 
9ft VSep 197ft 784 
7 VJon 91 " 

Ift YBJal lCft 
9ft V Sen 181 


v.7» 
9.19 
7J1 821 7.U 
7J* 


UO 


Wh 11 Dec 101'A 7X9 


IftVMBV Hlft _ 
■ *9* Del lMft 7,9» 
7ft "75 Pen 95ft toll 


ITALY 


dm WO 
dram 
dm MO 
ran IB 
rani® 
drain 


Amende NarteiFStrade 
OenmreloDICrtrata 
CrtdtoP Crmflfu Onere 
FernltDHgiW 
Ferrnvte Oetle Statu 
Ofivettl loti dial 

JAPAN 


8ft VJun 102ft 
BftYlJon WJ 
( 71 Jan Itaft 
HUMP W3ft 
( 71 Apr HOft 
Ift 71 JOB lSJft 


703 IDS 
7X2 7X1 82S 
7X4 7X5 7 a 
707 8*5 
>Xi 7.W 
7X7 7.#7 


Bra* Of Tokyo Caraan 
Bc«kOi Tokyo Curacao 
Fup Electric Cd W/W 
F«U inti Fkrace Kfk 
HaranmGvni Ltd 
Honda i*eter Co w/w 
Henda Motor Co X/w 
JopaiAtrtlnei 
jooon DevetoP Bank 


ran 190 
dm 100 

SS 

Sm 

drain 

Sot 


Jgpai Fteana pwntcb) 

JuscoCaLfd 

Kowal EiectricPtwrar 

tcobeCRy 

KobeCJJy 

Kpb» a TV 

Kobe aty 

Kobe City 

Kobe Oty 

Kobe Oty 

Kubota Lid 

Loop-Term Credit Bra* 


SS 


MttuttMttoavyW/W 
MttJgbtahi Heavy X/w 

Mttsubtrai metal W/w 

Nippon CredH S ank 

t®®MW6l 


Sm 

dmB 


ssssi 

Nlopea Stoat Can* 
Mbara TMeara Tetoph 
Biyflim YrtWi W/w 
Rtryttvn Watch X/W 
Sumitome Ftnooce AHo 
Surarton'o Flnoeee Ado 
Tokyo EJertjc Power 
lOtv 


Ift VJun 
7ft TOFlB 
Ift 70 Apr 
7ft 72 Feb 
(ft is Jim 
I ft 70 Mar 
JftWMar 
(ft 77 NOv 
7ft VSea 
7ft ID Jut 
71471 Jul 
»VPeb 
7ft VMay 
7ft VFeb 
SftV-M 
4ft 17 MOV 
4ft VJun 
7ft VOct 

■ 76 Jul 
7 71 jun 
7ft 19 APT 
I 70 Aug 
7ft 77 Dec 
3»VAPr 
1ft 79 Aar 
MVDac 
71471 Apr 
3 ft 79 Jon 
314 To Jon 
6ft 79 Dec 
5ft 77 Feb 
536 76 A* 
5ft 79 Jut 
7ft TO NOv 
I 71 Aug 
6ft 75 May 

■ VAue 


won 

197ft 

(*14 

102 

102ft 

101 

W1 

mft 

idt 


709 

117 


3 

70* 

& 


99 

100ft 

91ft 

100ft 

Wlft 

rift 


now 

W1 

KB 

90ft 

rift 

*7» 

ta 

Hft 

991* 

taft 

727 

94 

191ft 

ns 

in 


821 
70S 
2» 
707 
871 
301 
8X1 
7X7 

7X4 

7X3 

7X1 755 

A® 4X1 
703 7X1 70S 
7J9 709 703 
607 Sri 
6X8 609 603 
702 658 

1® 7® 

7X7 7J6 

707 7.1* 

JS w ft 
SS is 
SS s 
2? 55 

2-i* *6 

?J9 487 

8® SM 
ItS A33 
7.H i« 
7X0 705 7X4 

708 7X4 

801 *50 

7.14 886 752 


LUXEMBOURG 


dm 7® 

ran MO 


SocContr ttoOeeirai 
SocCintrNgcitdkv 

MEXICO 


■ yi jut m 
TftVNe* #7ft 


707 

7.70 


707 

73* 


dm Ida 
dmu» 

ran mo 

On ISO 
dm ISO 
dm 300 
ran VO 


7UWJOO rift 

i 16 Nov #*ft 

Coradton Fed Electric 7ft *5 Nov rift 

CoraWen Fed Eltctrtc (ft®Anr 9Sft 

Nodonoi Fiamsera 11 VMar 1*7 
PwTtonPetrotoaUrtexIc 7 VJrai rift 

Ferae* Fetralm Aktetc H WJFeb W (ft 


7X6 733 70# 
8)7 602 8 ® 
736 751 707 
Ul *.H 899 
9.14 1009 

7X9 70S 

1X9 urn 


MISCELLANEOUS 


dm® 
ran no 
ran Mo 


raw uo 
ran uo 

an 3® 
rant® 


Arab Booking Cera I VSep MOft 7® #.« 

Ind MlnlA Dev Bfc Iran 7ftWMoy W 70S 70S 750 

tod Minin Dev Bk Iran 7ft T Jul 95ft 1817 1133 81* 

Matovsla 6ft is Scp 100 tM 450 

Moiavela Ift *1 May Ml ft 73* 8U 

MwalFtoaK* 6ft *9 Jan taft 7.U 7 A UO 

Meoaf Finance (ft V Jen 1013k 734 IM 811 

NOD Bank Of Hcrsor/ 6ft15Nsy taft Mi A® 

Trcru Earen Notw Gas I TJWgv MOft 7X1 7X5 734 

NETHERLANDS 


tGaxunle 

FMlPi GioeflDtnpen 
FMtoeGtaellanpW/w 
Phlllpi GtotUoaawn 
Jtobobenk NPdtrlond 
SbeU Inti Finance 
Shell lnfl Finance 



TftVFtb - 
7ft Y2 Jaa *SM 
(ft IS Jun m 
7ft«APP 7F3* 
I VOec Ml 
93k v Dec uaft 
3ft Y) Dec 112ft 
Ift YZ Jun 145ft 
7ft "94 Od 9934 
4ft V Apr 99ft 
4ft V Feb rift 


91ft 732 


701 
7J7 
101 831 8S 
7X1 7X9 707 
701 7X7 732 
7X4 8*2 

3® Ut 
732 1® 

703 7 il 

631 702 635 
482 U< 407 


NEW ZEALAND 


SftVMar lift 434 503 

7ftVWcv new. 703 436 7X1 

7ft v Nov m 709 702 705 
6ft V7 Jan *936 7X1 403 

7 VFeb Ml 4JI 436 739 
fftVJlrt HDft 7JI «#2 

Tftirsw W36 747 702 

7ft "66 JUI 100ft 734 7X1 

iftlVOd HffL 7X9 M3 

93* V Dec 1® 7X3 903 

7ft 11 Apr fin 757 704 

734 yi Od rift 75* 704 


NORWAY 


ArtraogSwmdaiVert 
AnkrtOg Synadd Vwk 
Deraentor 
BargenOty 


Drat NcnU Indurtrytk 

■ J IndueJrt* 


DeiNntoHMB 
NoraeeHypotofclgranki 


H VDtc I0W 
193k VJUl 104ft 

M4VMCV MOft 
7ft"S9F*b no 
,4ft VJun lift 
4 YBMoy 9*36 

7ft VMay rift 
4 VNgv Hft 
EftYSOd 10044 
8ft VMar 191 
(ftVJBl If 
7 VApr un 
THVAlM 100 
• VDec 97 


555 9X9 
853 11109 
05 01 IX* 
70* 702 70S 
7.17 750 4® 
<07 7X8 831 
704 7X4 707 
<JB 7X9 402 
7J2 7X2 8*9 
814 7X7 9X4 
655 44* 431 
471 4X9 631 
704 70S 701 
404 7.19 81* 


An ISO Mgnge e Frai e nte io fl i ra * 


dral® 
dm HD 
dm mb 

ran® 

IWH 


rani® 

rant® 

raw® 


N e m an Cu e 
MriikKvrae 
Ho rek Hydra 
MmgkHyrav 
Onto Oty 
Oeloaty 
oraatt 
Dele Oty 
OetoOtv 
Sko-Kvtoo 
Stolen H e n Ner rtg 
srewnwNoreke 
laty 



SOUTH AFRICA 


S! 


dm2B 
ran MO 


S3 

AnMD 
ran wo 
dmlB 
rani® 


SentoMNcn 
SaWiAfiisa 
SMI Africa 
Saalii Atrieo 
South AWco 
benra Eieetr Suomy 
EKam EiectrsmraN 
E*wn ENctr Supply 

eecom ElectrSBPPty 
Escem Eitdr SuppIv 
E* com Eieor Sappfy 
Ejcom Eitctr Supphr 
Epcgm£«ndr5uppfY 
itcor Iran Steel 
i»car Ito u stee l 
Hcpr Iren Steel 
Itcor Iran Seel 
inn Stoat 


dm® J uUm n eib urg* 


■ftVNpv 
736 16 NOV 
7 VNn 
Ift 71 Dec 
7ft *1 Dec 
I VMar 
eft VSep 
ftkVNev 
7 VMay 
Ift "90 Aar 
9ft "*0 Jon 
I "92 Apr 
D4 9I5V 
7ft VJun 
7 VACT 
7 VMar 
f VMar 
■ftVNBV 


55 


80S US 8® 


ttral® 
dm HO 


H VOd 

J etomne au rtOfr MVto 

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BrontB 

BrdoFd 

BrtILee 

Brood F 

BrokHII 

BrokrM 

BrwnRb 

Bruce Rb 

BOTtyF 

Muffpia 

Burmti 

Bumps 

Burr ft 

MurtH 

Bufrfid 

BvwrC 


Soles ta Net 

100s Htah Low Loti Chd# 

1734 4 3M X + ft 
7 7 7 

xa 81 164 10ft 10«. 10ft— ft 
.12M 20 St 4ft 4 Aft + ft 
15#* H 10 10ft— ft 

01# 0 3® 3ft 3ft 3» 

J4# 40 1140 SS (ft «ft— «i 
250 11 11 11 

2M Mft ISH ldft+1 
XS 7J 635 5ft 5ft 5ft— ft 

in 10ft ioft taft 

114# 70 399 Oft 3*Vb 43Vk +Ift 
.14a it 543 21b 2 2Vb + 

io® m »w «ft— ft 
I 241 14ft 12ft 14ft +llb 
354 fti + . 

107 2 1ft 1ft— ft 
134 2ft Ti 2ft + ft 


030 OS 


.90# 

07* 


CCNB 
CCXNt 
CH8 
Cf/L Fn 00* 
COMB 
CTG 

CVBFr* t 
Cadmus 08 
ColBlo 
CaUtcy 
Calmer 
ConoGwt 
Canon I .11* 
CopBcp 102 
Cordis 
Coroaln 
Cascade 1X0O 
Conti Sv JO* 
Centboc 
CantfHi 
CnBKSr 
CnJerBk 100 
CnJerSy 

CnPocC 
CPocMn 
OtPaSv X0 
CRsvLf .10 
Cgrtron 
Cnapral 
CftapEPf 100 

ChorCTi 
OwlFdl 
CfiaazD 10r 
Ow«nt 
Owmfx 

Chmtji un 
Che rake 


87 


xob 2X 


CWAut 
Chiron __ 
Qlltend 100 

CtaMIC 01r 
arefne Ixa 
CRF ini 
C«SLn XB* 
0125 F » t 

CtvFdpf 200 
CtFd crtB 2.10 
CJaSlcC 
ChBfdF 
aovsfv 
CtanCp 09 

Coast M 
Coart RV 
Cetlint 00* 
CoORec _ 
CelnBcp J® 

ColSvwf 
Com coo 
CmdAlr 
ComBCPl 
CaniBsh 200 
ComClr l.#2 
CmlDcl 
CnvclFd 
ComlNi 100 
CwNtFn JO* 

CmwRf xBa 

CmwSv 
CmoVW 
CmwiL 
CnMek Xa* 
CmpOot 

CmHzun 
CinpRPh _ 
CiriPSW 0/# 
CmSvn 
ConcOa 
ConcCPI 
Condor 
constr 
Coma .00 
CflCoel 1X1 
CnCnl wt 

SmrttB 1X2 

CcniFn 05* 

aiHit wt 

OlHiivn 

CantSfi 

CookDl 

CoreSPt 30# 

CotnSLX -X4e 

CourOJ* 

CnuenH 

Covnat 

CradTr -56 

CrttMPu 

CrwtdC 02 

Crntk 

crwtiA X0 
Cueind 

Cufne 

Cutter 
CvfCr un 
Ciitca .14 

CvOortk 


40 24 
4# 16ft 
1 45 
3 

514 15 
45 Ift 
23 10 

IX 335 I* 
172 71b 

19 9 31 
X SOOxW 

11 Sft 

X 1880 28 lb 
30 1*5 MVS 

484 7 
35 Sft 
30 3 44 

2.1 13 14 

11 14ft 
419 9ft 
_ 95rt5ft 
SX 157 21ft 
5 11 
71 Sft 
2530 

82 11( 72 
IX 597 11ft 
359 Ift 
lit ft 
110 22S lift 
43 7 
15 9 

20 32 5 
1228 ft 

#87 4 
110 9ft 
24# 13ft 

53 Aft 
135 17ft 
335 4Vb 

S3 ns i»ft 

573 15ft 
>w XO 13ft 
15 P6 
10 6 

20 10ft 
9X 128 23ft 

10X 206 20ft 

21 7ft 
15 Alb 

254 3ft 
2A 364*11* 
IB 6 

45 L 

XI #1 4ft 
IV Aft 
29 lJTXMft 
2ft 
21# Sft 

lldSft 

81 42 49ft 
2X 172 » 

1 Aft 
*41 9 

82 3/18*2/ 

10 44 42ft 

SO II 
105 13ft 
53# Aft 

201 (ft 
32 10ft 
** 4ft 
13 9ft 
2#g 2ft 
15ft 
730 #ft 
774 11 
34 Aft 
40 3ft 
53 lift 


50 


25ft V + ft 
17ft 10ft +1 
45 45 

3 3 

14ft 15 + V. 

1ft 1ft 
10 10 
19 If 
7ft 71b 
31 31 

1764 10 + ft 

Sft Sft _ 
25ft VM— 2ft 
34ft 34ft 
5ft 7 + ft 

5 5 — ft 

44 45 

WVb 14. +31b 
14«I Uft 
Oft fft + ft 
15* 15ft 
21ft Sft 

11 *L. . 

% **+* 

lift 1* +ft 

re: 

IB*. 10ft— ft 
Aft Aft— ft 
# * 

Z 5 *-k. 

31b 3ft— ft 
■ft 9 — ft 
13ft 12ft— ft 
Aft 6ft + ft 
17ft 17ft + ft 
Sft Sft + ft 
10 10ft + ft 
Mft 15ft + ft 
13 Mft + ft 
2ft 2ft 

4 6 
10ft 10ft 

23 23 — ft 

19ft 1»ft— ft 
7ft 7ft 
Mb Aft 
Sft 3ft + ft 
10ft 11H+ 9b 
4 6 

3ft 3ft + ft 
Aft Aft 
3ft 4 — ft 


50 


10 H 8 


*0 X72 lift 
44 1ft 
(ft 

40 49 25ft 

IX 9 3ft 
1(4 4ft 




81 


540 
30 3 ft 
11X 147 25ft 
2X 34 Mft 
30 5ft 
537 7H 
557 1 
533 13ft 
47 3 
73 18ft 
f 7ft 
71 7ft 
I® 2ft 
1SW 1ft 

274 ]ft 

Ilf 5ft 
133 Jft 
295 4ft 


80 


81 


2ft 2ft 
2ft 2*k— ft 
4ft 4ft 
15ft 15ft— ft 
49 49 — ft 

n . 

4ft Aft 
7ft 9 +lft 
24 24 

42 42 

10ft tl + ft 
12ft T2ft— ft 
3ft X + ft 
Sft SV> ♦ ft 
10ft TOft 
4Vi 6ft 
Oft Oft— ft 
2ft 2ft— ft 
15ft Mft + ft 
fft fft + ft 
10ft 11 + ft 

Aft Aft 
31b Sft 
lift lift 
7ft a + ft 
tAft I81b+lft 
I Ift 4- ft 
4ft 4ft 
251b 25ft— ft 
Sft 3ft + ft 
6ft 5ft— ft 

'■ft"* 

Sft Sft— ft 
25ft 25ft + ft 
Mft W6+ ft 
5ft Sft + ft 

X Tfcif 

12ft Wft+lft 
3 3 

It M — ft 
71b 736 A ft 
Sft A —1ft 
7ft 2ft— ft 
TlC 1ft 
3ft 3ft— ft 
40k Aft- ft 

M Sft- ft 
Sft A — ft 


i In 


Nat 


lOOi Htai Law Last Ch'ge 


DafoTr 

Datcpy 


Daxor 

Doxorwt 

□Boy 

DectsSv 

Decom 

DlroQn 


DetNth 

Develcn 



•V Mft 

10ft 

10ft 

— 4* 


506 5 

Aft 

5 


1X4 

5-4 6MB 

35 

35 



511 «W 

4 

4ft 



1353 2ft 

2ft 

Zft 

+ ft 

.15b 

2024194*5 

4 

5 

+ 


254 21b 

21b 

2ft 

+ ft 


141 3W 

3 

3 

— ft 


3 Uft 

1364 

Hft 


100 

221 *ft 

Bib 

■ft 

—1ft 

100 

477 m 

m 

i ■ 

-Ift 

200 

50 172 42ft 

42 

42ft 


XO 

7.1 12ft 

12ft 

Hft 



756 7ft 

71k 

/ft 

- ft 


■6 5ft 

5 

S 

— ft 

00 

U J6B„ 
347 4ft 

27ft 

4ft 

27ft 

4ft 

4* 


35 4Yz 

Jft 

«ft 

+ ft 


21* 13 

Uft 

13 

+ ft 


71 IV 

Ift 

Hb 



DtcfcanA 
DkJceriB 
DidteV 
DtrcRs 

DtPiEIc H 3ft 3ft 3H 

Dlrtrto .10a 20 7 Sft 5 5ft + ft 

DlxnTI 20 10 fft 9ft— ft 

DamMI 111 « ft 48 

Doskod 150# Hb 1ft 1ft— Ki 

DtdEOP 
DOILxm X0 
DrtkBk 103a 
DrHfCn 1-37* 

DnwS* 

DuaiLtg 
DomdO 
DuaSv* 

Dvcaka 
Dwight 
Dveom 
DvnR» 


7 lag nb 1(4 

Uft— 1 


20 170 15ft Uft 
30 82 50ft St 40ft + ft 

40 1977 20ft Uft 2Bft +lft 
93 5ft 5H Sft 

1W Aft 4ft 4ft + ft 

S3 Sft Sft 3ft + ft 

64 Hft 22 22 — ft 

7J lift lift llft+ ft 
109 4ft 4 4ft 

45 fft 9ft fft 

13 Aft Aft Aft 


EB Mar 

EMC lira XBb u 

Eartmt 19.1 

Eari/an X4 10 

EttgStl 1 

EtcScI 

EtaSerrt 

Elctmo 

EBCCa 

EmpCet UO O0 

EnrVW 

EnnRi 

Coaiftea 

EmrrTa 

ErtvrnP 


EawlOR 

EatBcp 04b 30 
EotBca 

EfttloA 100 SX 

ErbLm 

ErcfcGd 


EnnO 202 90 
Exchlnt 
ENPdfn 
Expdiuh 


1W 10ft 
4 Ift 
1513 Mb 
23 25ft 
MS 39ft 
912 22ft 
22 5 
130 Mft 
I 15 

253 Mft 

411 VH 
m s ft 
70 lift 
112 Sft 
45 Ift 
134 Sft 

at 22 ft 

II 

45 24ft 
*4 22ft 
W3# 2ft 
13 Aft 
10 25ft 
2* 1318 
363 JOT* 
24711ft 


10 
8V> 
Sft 
24ft 
37 
81 . 


19ft 
15 

39ft 

% % 


1 

3ft 

10ft 

3 

7ft 

Sft 

21ft 

10ft 

ZJft 

20ft 

2ft 

(ft 

25ft 

13 

1014 

lift 


10ft 

Oft 

3ft— ft 
2Sft + ft 
3# +3 
21 —1ft 
4H— ft 
20ft 
15 

4®b+lft 
1*— ft 


11 

5 —ft 
■ — ft 
Jft— ft 
27ft +1 
11 + ft 

23ft— 1 
22ft +2 
Sft ♦ ft 
Aft 

25ft + ft 
13 — ft 
HU— ft 
lift— ft 

T 1 


FM Not X5r 2A 
FMI wt 
FoirFln. 

FaicLIg 

Ci iJa fi i tf 

Farmer so 20 
FdCrtv* xa 30 

FodNt] 

FMClr P* 305 7X 
FMFdl* 

FldNFn 

FtOBPt X0 20 

Ftniind 

FlnNBC 00 30 

FlneA un 

FiArrmr X0 2X 
PABkPB A0O 20 
FABkPB B0O 20 
FI* Fed 

FBflCTx XO 40 
FfCapfX >07 85 

FtCarm 00 20 

FtCaiBs 01a 20 
FDiMat 

FIE mo 100 2X 
F Efface# ,#5a 40 

PMNH 00* 1.1 

FFdAust 

FFdBrk JM* X 
FtFdtCol 

FfFOJVo .IS* 10 
FIFO SC 
FfFMSL 
FFMen 

FtFncI 1060 50 
FFnCrp 

FtlndBc UMb 2X 
Flier pi 3® 4# 

F Jy Pf B 2JB 9.1 
FtMfc* X6b 50 
FtMIISnr 

FHI® rt 400 80 

FWOtn 

FIPPONJ 

FFnent 1.9* 140 
PMCKr mo 00 
FnjW 05c IX 
Flbnkiil 100 87 

Fatwf# 1.13 2X 
Frtam 

FHM 03a IX 
Flack la 
Flerlxa 

FtaCrer 00* 50 
pyBatr .10 20 
Format 
ForitCfi 

Fiwytw txo ix 

FerumM 

mrmwns 

FndrFn 

FffltFii 1.15 40 

FevrStr 

Frnhtdg 200 87 
FmhBC JO a 89 
FrnkCn 100* Mb 
F mfcRi J4 0 

FfMSC 1.90a 4X 

FrpaFtii 

FmJL 




AOrtOft 
290 30ft 
4 41 
IM 14 
V 9ft 
3 14 
48 20 
10 36 
1 19 


311 39 38 

134*15** 15ft 
7 Jft JH 
1181 4 3ft 
73 4 jft 
83 Sft 5 


13 44 44 44 

49 I5U l*ft 161 


DAB t 

PHTd, 

DM! _ 

DMA Pun 
DOC 

DST 00 
OshfOra 
Dai Ei 05# 
Doners 00* 
DDIArs 
pa la Pc • 


Mft Uft 
147 3ft M 
2#7 Ift 3ft 
98 27ft 27ft 
37 Aft Aft 
. * 42ft 40 
Ml 16ft 15ft 
5 13ft 13ft 
248 49ft 45 
U83 2*ft 254b 

W » » 

434 Pit Pi. 

n ik v 

M Sft Sft 
3ft Sft 




Sate* In 


Nat 


Gotoob . 
Combrs 
OnBIfld 
GTet 56pf 
OTrtSpt 
G#n*W 
GaPWhto 
GarmF 
GiPertFf 
Gtantla 
GtaxH 
GoldCa 
CldFW 
GoM 


IDQS 

High Low La« Ch'ge 


682 Uft 

Mft 

15 + ft 

JKB 0 

2# 7ft 

7ft 

7ft— ft 

04 25 

224 14ft 

14ft 

Mft + ft 

X0 127 

32 7 

/ 

7 

U0 110 

44 8ft 

lift 

■ft 


109a 22 


GoidRs 

Goidate 

GMCvct 

Goody 

GTFMM 

GtAmC 

GAroPrt 

GtAMa 

GtAmRS 

GtSoFd 

GrarNt 

Goortfp 


42 3ft 3ft 3ft— ft 
00* IX 1*9 14ft 14 14ft + ft 
tt 39ft 37ft 37ft— Ift 
.Ul U 300 M 4ft 5ft ft 
.77* 1025496 13ft Uft 13ft— ft 
1® Vft Mft "Hft 
X71 Z7 1305 17ft Uft 17ft +2 


cumie* 

Xnvt&amd 
lias ptssst * 
ts tittfes! 
an/acatibm 


00 24 


01 30 

JM 125 


153 2ft 2ft 2ft + ft 

31 1ft 1ft Ift— ft 

V 2» 21b 2ft 

33 mi 12ft 12ft + ft 
1® 3 3 3 

54 Uft lift lift 
155 4 4 4 

179 I5« lift 15ft 
71 Hb 1ft 116. 

4B4 )1 WH 10ft— ft 
2531 5ft 5 JW. + ft 
3X 94 13 13 U 


dearfy bftCrs 
ckdtarfaoB^ 
U»s was tb 
Dfttasofrfia 
C o rt aw Bi w 
tbc tacr tf • 


wedL^o 


HMOUT 
HEITx 
HPSC 
Helm) un 

HomCipf 

Horkao 
HowkC 
HOwthF 
Hit Awl 
HvrttEn 
HerilFd 
KMIWM 

HlnesL 

MHvIn 

HhvdPk 

HFflAM 

HFdM» 

HmFRK 


07* XS 
100 20 
SB 10 
1X0 10 
I 


MS 5 5 

157 12ft 12ft 12ft 
It 7 7 7 

139 7ft 7ft 7ft — ft 
39 15ft Uft Mft 
408 IU. 1 1ft— Ui 
IIXJ14 4H 4ft 
11 25 25 25 

121 Ift (ft 01b 
85 3ft 314 Jft— ft 
73 Uft IS 15ft +„ft 
ATX 2ft lib 2 +Ki 
15 37 Uft Mft— ft 
*L5ft 15lb Uft 
95 21 19 20 —1 

S* 15ft IS 15ft + ft 




’ 6 s . 


HortaRa 

HrtnOF 

HefnOe# 

MprdB 

HvdrOe 

HYtekun 




6ft 

Aft 

XOr 

85 

9 11 

10ft 

.Ife 

10 

50 lift 

Uft 

01# 

J 

34 Sft 

2ft 



308 Zlb 

ltb 



7# 5ft 

■ft 

1.12o 

50 

19 22ft 

22ft 



212 Aft 

Ift 



275 fft 

7V> 


1B1 

ICEE 

IDBt 

I DC 

IEC 

JPC 

RE Fn 
Imork 

l awn 

Irntm wt 
tmtm un 
imarBc 

tnretj 

ncoPtsg 

inOMldg 

indSctS 

IndBnc 

indiRv 

IndnoF 

InrtlNpf 

idelWot 



• IH« 
„ man 

dav^raeis 

nxeinaeaK] 

auQar «arr«a 

In e. 



Dflitas. Mr. Vi 
tjiiiv ctodutoq 


it ■ v“«— -■ 

In 


Kamrut 

KnCtvc 

Kopoo 

Kevara 

Kean# 

Kcnstn 

KyiAvd 

Xwlle 

Keycon 

KontFn 

KtaBlrrt 

KnoWW 

Ktanay 


W M II 03ft 
57 1ft 
11® 3ft 
00 IX x 13ft 


09 is 


.tOe 1.1 


K tatty pi 107 IJfl 

Ktaevnn 

Ueinrr 

KtoOKS 103# 40 
Klnva 


284 10ft 
lift 
059 Aft 
145 IP 
TOMBft 
U 9ft 
»4 2* 
413 8ft 
SO 10ft 
IM 17 
15 Aft 
907 41ft 
J* sn 


3ft 4 — ft 
93 83ft + ft 
5 Aft— 1ft 

3ft 31b *- ft 
I Jft Hft + ft 
Uft Mft 
lift lift 
Sft 6 +1 

7ftr 13 +4W 

18 lift -A ft 

aw oft + ft 

22ft 33ft— Ift 
7w n +i 

Uft Hft 

16 left + ft 
Sft Sft— ft 
39ft 41 -tfft 
* 4ft+M 


(Continued on Page 10) 






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INTERNATIONAL HERALD TRIBUNE, MONDAY, APRIL 1, 1985 


Page 9 


New Eurobond Issues 


8 , ;« 

L5*2 *g * 5^ f 

> { 

frWgto r»i *S H * 
gv7&, |g ^ t 

l*. s 


*7££m - ™«o i;i. 

ISSU 

SWITZERLAND U ‘ ! 3? 

r*’ic jut 

»•=» 3V^a K gf" ’» 

«TED KINGDOM 3 

is gsa ™: is , 

SL lie f 5 a? 

**™° ftyoci in ip : "fc 
■?* ~ Ijk^Njv 99 i£ ) 

S;Sp-' j: ' !« '•• 

_ IVi»kc« iw." id :i 

ft".. gsWji-i »- ’5 ’*ii 

tasa m wmou in; 

2»«o« :x c 

4 ^H W -' Wi -t! !• s 

ttfeTOhtar 

?g* rse i g - 
S M3S&S *3 
£ MS S | ? 4 

en*» WlSjon #’31* 
fFk» *>j-s:oo ^ 

O STATES AMERICA * 

(Mum MVjen r - v 
ai . ni'kjFM me :i S 

3> ' g«2?NSv -- 5 

Wne »v?WAtoy w, •£ • 

S" 0 * as?«' :sn. t£ g 

afl M^CAo; (3 vi “ 

2? L E J “" ■» n K 

ta w*»am ife- iS S 

® taVCsl in « 

*» r-WCer 1“ 

W 7H ■»! Ma* 1001 

'X >« a 

7\a ^3r*L7 ‘X-’. 

3CM TVsWMai IB - _ 

fkWAus Ib. Uf [! 

. - T ■WJST. f 1 

!* • 7 ■K.a' w 

K9 Ci Ii.TC” 

mce 

rKX CB Ha V< 

r-«4 
Wj-B 
r-vc 
ittw 
!%■« 

V 


Issuer Anwunt 

(millions) 

FLOATING RATE NOTES 

Crisw Fron^oise de $100 

Devebppemenr 

Industrid 

Central Inf’l $150 


Council of Europe 

Export-Import Baik of 
Korea 

First Federal Bonk of 
Michigan . 

Hani! Bank 

National Westminster 
Finance 


FIXED-COUPON 

Denmark 

E1B 

Fronkfin Savings 

AgodaHon 

General Foods 
Capital 

Kinki Nippon Railway 
Parent 

ESCOM 

RecHand Finance 

Caisse Nationoie des 
Telecofnmunications 

Caisse Natronole des 
Telecommuniootions 

Seiyu 

Nippon Kokon IOC 
Rank Xerox Finance 
Finland 

Bocob Finance 

EQWY-IMKH> 

Chugoku Marine 
Pants 

Mazda Motor 

5untomo Speed 
Melds . 

Yofcogawa Hokushin 
Bedric 


°5T « 


Price 
Price end 

•adAAU 

••UUfc 


1997 Itbtd 100 

2000 Irbor ioT 
1993 libor UxT" 

I995 % ioT 

1995 Dmean 100 

1995 3/16 10O - 

2000 3/16 lOO - 
1997 1/16 100 

1990 11% 100ft 
1995 12 100 

1990 lift 99ft 


— ktattt | 
mon/Hy. 


10 6-fflOrfh bid rot* for Eurodolan, Set 
1 or par after 1987. Denominations $5/300. 


99.62 interest let at 10 basis pomti am 6-ratsrtth offered rate far 
Eurodollars. Cafabh at par in 1988. Radesmobla at par in 
1997. DeneminoMsw $10,000. Fmi O50X- 

99.80 tnfamt prQ 9 «H to A-monih offered rale hr Eurodatas. 
Nonca B ofale. Donormnalions $10/100. Rees 0^0%. 

98.40 Ow frfaowh Libor. Cnhfclt at par in 1990. Bedeemable at 
par in 1990 and 1992. fees 1H9L 

99^8 Interest pegged to average of bid and offered rases far 6- 
manth EurodoHan, set monthly. Cddtle at par after 1986. 
Deaoaiincdiare $10/300. Fees 0.50%. 

— Over 1. or Avnonth lAor, whichever ■ teller, set monthly. 
tahewabh after 1990 or 1992. Fees 1 J0%> 

99.94 Over 6-<nonth Ubid. CnHcdSn at par after 1990. Denomina- 
tions $10/300. Fees 0.15%. 

9923 Over frmantfi Ubar. Cdfabte tf par dler 1987. Denomma- 
tkm of 10/100 ecus. Fees 045%. 


98.00 NoncbDabla. 


97 JB 8 NoncdUbki. 


lift m 96.37 Noncdfable. 


lift 100 98.00 Noocolabh 


8ft 99ft 
zero 48 
9ft 100 


— Nonajlabh. 

47,12 

9925 MiwuB w hle 


9ft 100 99.12 Catobh , at 100W after 1992 


ECU30 

C$70 

DFlOO 

YlS^X? 

NZ$35 


9ft 100 
11% 100ft 
8 100% 
6ft 100 
15ft 100 


2000 open 


2000 open 100 


1990 open 


98.50 Noncofable. 
98.62 Noncdfable. 

— NonaAtfate. 

9827 Noncdfable. 

— NoncoBablc. 


— Semiannual coupon inde nt ed or 3WL CdaUe ce 104 in 
1988. Convertible tf at etipeded 5% premium. Terms to be 

set April 1. 

9825 Semiannuafy. Callable at 103 in 1990. Convertible at 486 
yen per share end <* 251 j 65 yen per dofa. 

97.50 Samianmiai coupon indented at 3H%. Caflable af 104 in 
1988. Convertible at an expected 5% premium. Tenet to be 
let April. 

— Semiannual coupon indicated at 3M%. Convertible at On 
expected 5% premium. Terms to be set April 1. 



54 i 
157 !Ji- 
*i ‘ 
;r> 't 
11.6 3S Iii* 
A3S ; - 
1.7 il*£- 

W ^ 

!31 7-: 

&s :=« 

t ;5 . 
15 47. : » 

ZJ iJ j 

u «;s^ 

M 55 21 
51 if - 

IV . 

1? a ti - 
J 34 p 

:is : * 

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Dollar’s Fluctuations Worry Volcker 


By Hobart Rowen 
Washington Post Scrrk* 

WASHINGTON — Paul A. 
Volcker, the chairman of the U.S. 
Federal Reserve Board, said Satur- 
day that he is concerned about the 
recent volatility of the dollar, which 
rose to record highs against other 
major currencies only to drop 
sharply during the past month. 

In a speech to the American- 
German Biennial Conference in 
Dallas, Mr. Volcker said the vola- 
tility in exchange rates might “chal- 
lenge. . .governments and central 
banks to think hard about ways” to 
achieve greater stability if “sponta- 
neous maifcet forces” do not lead to 
h. 

Mr. Volcker seemed to be stak- 
ing out a position different from 
that of the Reagan administration. 
In recent days, President Ronald 
Reagan and the secretary of the 


Treasury, James A. Baker 3d, have 
turned aside pressure from Europe- 
an officials for studies that might 
lead togreaier exchange-rale sta- 
bility. They argue that the gap be- 
tween the dollar and other curren- 
cies will narrow as economic 
recovery abroad catches up with 
that in the United States. 

But Mr. Volcker said that “cer- 
tainly the exchange rate today is 
too important an economic vari- 
able to ignore in our policymak- 
ing.” 

Mr. Volcker warned that “after 
two years of extraordinary 
growth,” the U.S. economic expan- 
sion was slowing, in part because 
competition from imports has dis- 
couraged some domestic produc- 
tion and investment. 

He said the huge U.S. trade defi- 
cit — estimated to be running at a 
$140-hOEoDannnalrate — was cre- 


ating pressures for protectionist 
measures. 

Mr. Volcker praised the adminis- 
tration and Congress for resisting 
these pressures. But he suggested 
that protectionist pressures might 
prove overwhelming unless the 
United States obtained help from 
its trading partners. 

In his most direct public refer- 
ence to growing trade tensions be- 
tween the United States and Japan, 
the Federal Reserve official said, 
“Those in exceptionally strong 
trading positions, such as Japan, 
must find the win and the means to 
move toward liberalization.” 

Speaking to an audience interest- 
ed in enhancing West German- 
American relations, Mr. Volcker 
praised the West German govern- 
ment as being in the forefront of 
the trade-liberalization movement. 


Mazda Plant 
Is Postponed 

(Continued from Page 7) 
voluntary quotas have restricted 
the number of cars that Mazda and 
other Japanese automakers have 
been able to import into the United 
States. 

Officials at Mazda said their de- 
cision to delay the start of con- 
struction at the Flat Rock plant is 
not related to the raising of the 
import quota, which prompted 
sharp U.S. criticism last week. 

The plant is not scheduled to 
begin car production at the Hat 
Rock plant until 1987, and so Maz- 
da's plans fortbe facility could not 
have been swayed by whether quo- 
tas were continued or changed in 
1985, Mr. Hartwig said. 

Mazdai announced last Novem- 
ber that it would buOd its first U.S. 
plant on the ate of a dosed Ford 
Motor Co. casting plant in Flat 
- Rock, a blue-collar suburban com- 
south erf Detroit. Maz- 


Canada Promotes Oil Output 


(Continued from Page 7) 

Cion, 31 of 39 companies said they 
planned an increase in exploration. 

Indeed, the Mulroney govern- 
ment seems determined to use the 
energy industry, which it says ac- 
counts for 30 percent of Canada's 
business investment, as a driving 
force in its effort to revive the trou- 
bled economy. 

“Confronted with discrimina- 
tory taxes and incentives, invest- 
ment has left and stayed away,” 
Michael Wilson, Canada’s finan c e 
minister, said recently. “This will 
change.” 

The subsidiaries of a number of 
major U.S. oil companies in Cana- 
da are expected to benefit greatly. 
Induded are Mobil Corp., Texaco 
Inc, and Gulf OU Corp., said Ian 
Doit an ofl analyst in Calgary. 

Already gone is ihe ami- Ameri- 
can feeling that motivated much of 
the National Energy Program, and 
soon to be gone is a feature of (hat 
policy that allowed the Canadian 
government to take a quarter of 
any discovery. A symptom of the 
new mood was the lack of notice 


arm of Imperial Oil Ltd, which is 
69.6-percent-owned by Exxon 
Corp. 

Industry officials say the decon- 
trol of Canadian oil prices will have 
the effect of raising the price of 
about half the countiy s production 
and lowering the other half. Their, 
assumption is that Alberta has ac- 
cepted a phased-in. rather than im- 
mediate, end to the federal revenue 
tax. 

The effect or Alberta’s royalty 
and the federal taxes has been to 
reduce the companies' revenue per 
barrel of oil to 52 percent of the 
total 

All producing companies would 
benefit from any tax and royalty 
reductions. But the effects of qD 
price decontrol would help some 
and hurt others. This is because ofl 
discovered before 1974 receives a 
price of about 520 a band, while 
that discovered after brings about 
S26!i0. 

Companies like Imperial which 
have done best at finding new ofl 
supplies and have a greater propor- 
tion of the new ofl, would thus be 


Prices Boosted as Investor Demand Picks Up 


By Michael Quinr 

Ne*J York Tima Sen ret 

NEW YORK - Prices in the 
credit market have been boosted by 
improved investor demand. 

Treasuiy note and bond prices 
continued to rise Friday os more 
speculators made purchases. 

In the shorwerm market, howev- 

U.S. Cl^n'MARKEI^ 

er, rates on Treasury bills rose by a 
tenth of a percentage point or 
more, with the three-month issue 
bid late in the day at 8.21 percent 
and the six-month issue at 8.59 per- 
cent. Despite the increases, bill 
rates remained below the levels at 
the stan of last week, when the 
three-month bill sold at 8.41 per- 
cent and the six-month issue at 8.86 
percent. 

Mitchell J. Held, an analyst at 
Smith Barney, Harris Upham & 
Co., said Friday that “retail activity 
was noted over the past two days, 
something that had been conspicu- 
ously absent for about four weeks.” 

Other analysts agreed that inves- 
tor demand nas strengthened, but 
added that some dealers were ag- 
gressively adding to their inven- 


U.S. Consumer Rotes 

For Wtafc faded Mnrdi 29 

Passbook Savings-^— ^—^550 % 

Tax Exempt Bands 

Bond Buyer 3>-Booq Inaox 9.75 % 

Monov Marker Funds 

Danoaiws 7-Dcv Avemg« _ 835 % 

Bonk Money Market Accounts 

Bank Hate Monttor mae* 7.9? % 

Home MortBOM 

FHLB qvrqfle,, —1347% 

tones, in anticipation of stable to 
lower rates in coming days. 

Whether the demand was from 
investors or speculators, it was still 
enough to overcome a decline in 
the dollar and forecasts of a large 
money-supply increase this -week 
— both factors that earlier in 
March causal lower bond prices. 

According to a respected private 
survey of bank deposits, which is 
about 75 percent complete, the Fed 
should announce next Thursday a 
rise of about $3 billion in the level 
of the narrowest measure of the 
money supply, called M-l. M-l 
measures cash in circulation and 
money in checking and similar 
acounts. Such an increase would 
not prevent March from being a 
month of much more moderate 
growth than the 11-percent annual 


rate during the last three months. 

The money-supply forecast, 
based on a survey of banks across 
the country, showed an increase 
that was considerably higher than 
the median increase expected by 
economists who were surveyed by 
Money Market Services. Only 
about 15 percent of that survey 
sample expected an increase in the 
money supply next week of more 
than $2.5 billion. 

Among the three new Treasury 
note and bood issues sold last 
week, prices were stable to higher 
in Friday’s trading, and closed at 
levels wdl above the average price 
set at auction. The lift-percent 
notes due in 1989 were little 
changed on the day, and dosed 
with an offered price of 100ft, to 
yield 1 1.13 percent, up from 99 27- 
32, to yield 1 1 JO percent, at Tues- 
day’s auction. The lift-percent 
notes due in 1992 were offered at 
100ft, to yield 11.59 percent, up 
about ft point on the day, and well 
above Wednesday’s auction aver- 
age erf 99ft, to yield 1 1.85 percent 

In the bond market the 12-per- 
cent issue due in 2005 was offered 
at 100ft, to yield 11.89 percent up 
from an average of about 99ft. to 
yidd 12.04 percent at Thursday’s 


auction. The lift-percent bonds 
due in 2015 rose about ft point, to 
an offered price of 96ft, to yield 
11.64 peirenL 

Based on results of the auction 
and the last two days’ trading, the 
Treasury’s financing has been an- 
other example of how interest rates 
can decline in the face of huge 
supply. Imm ed i ately after the Trea- 
sury had announced its financing 
plans on March 19, die four-year 
notes were offered by dealers with a 
yield of 11.51 percent, the seven- 
year issue was quoted at 1 1.93 per- 
cent and the 20-year bonds were at 
1213 percent. 


Gold Options mtoisiw, 

Pica Kto*. 

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330 UHU9JOO OTJOaODO — — 
340 UjKWaiO 2150240) SMWUB 
330 750100) 17501950 2MWB® 

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Plan Dropped for Proxy Fight at CBS Meeting 


Las Angela Tima Service 

LOS ANGELES — Fairness in 
Media, the conservative group that 
is seelring to buy control of CBS 
Inc. because of what it considers 
the network's liberal bias, has 
abandoned plans to wage a proxy 
fight at the CBS annual meeting 
April 17. 

But in its announcement Friday, 
the Raleigh, North Carolina-based 
group said nothing about halting 
efforts to buy a controlling interest 
in the network through a tender 
offer for CBS stock. 

Senator Jesse Helms, the North 
Carolina Republican who is allied 
with Fairness in Media, has written 
to more than a milli on voters iden- 


tified as conservatives asking them 
to buy CBS stock so that they can 
end the network's “liberal Nas” 
and ’‘become Dan Ratber’s boss.” 
Mr. Rather is the anchorman for 
the CBS Evening News. 

The decision against the proxy 
fight, made in a meeting with U.S. 
District Judge William C. Conner 
in New York, apparently forestalls 
a confrontation that already has 
Wall Street speculators investing 
heavily in CBS. 

CBS shares rose $4 to close Fri- 
day at $109.75 on the New York 
Stock Exchange. The share price 
has risen $24 since March 8. 

Fairness in Media claimed two 
reasons for deciding against a 


proxy fight, in which it had htmed 
to wm at least one seat on the CBS ; 
board. First, the group received a 
list of CBS shareholders just last 1 
Wednesday. Its efforts to get the 
list sooner were delayed when CBS 
filed suit arguing that the group 
might use the list for political and 
“improper” purposes. 

James Cain, an attorney for Fair- 
ness in Media, said CBS bad mailed 
its own proxy material to share- 
holders two weeks ago. 

He also said that the group d &■ 
cided to abandon the proxy fight in 
exchange for an agreement from 
CBS that it not proceed with plans 
for a series of anti-takeover mea- 
sures at the annual meeting - 


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ARAB BANK LIMITED 

ESTABLISHED 1930 IN JERUSALEM 
GENERAL MANAGEMENT: AMMAN, JORDAN 

Group Balance Sheet as at 31st December 1984 in U.S. Dollars 

CAPITAL & RESERVES 473 Million 
DEPOSITS 10 Billion 

TOTAL ASSETS 12.4 Billion 


Arab Bank has branches in: 


Abu Dhabi 

Ajman 

Bahrain 

Dubai 

Cyprus 

Egypt 


France 

Fujairah 

Greece 

Jordan 

Lebanon 

Qatar 


Ras Alkhaimah 
Sharjah 
Singapore 
United Kingdom 
U.S.A. 

Yemen Arab Republic 


Offshore Banking Unit P.O.Box 813 Manama-Bahrain Telex: 8647 


Arab Bank Sister Institutions, Subsidiaries and Affiliates 


1 Arab Bank (Switzerland) Ltd. Switzerland 

2 Arab Bank Investment Co. Ltd. England 

3 Arab Bank Maroc, Morocco 

4 Arab National Bank, Saudi Arabia 

5 Oman Arab Bank, Oman, Ruwi 

6 Arabia Insurance Company, Lebanon, Beirut 


7 (U.B.A.E. ) Arab German Bank Luxembourg and Germany 

8 (U.B.A.F.) Union de Banques Arabes et Francaises. France 

9 (U.B.A.F.) Arab American Bank. U.S. A. 

10(U.B.A.N.) International Ltd. Hong Kong 

1 1 Nigeria- Arab Bank Ltd. Nigeria 

12 Arab Tunisian Bank .Tunisia, Tunis 

13 Arab Reinsurance Company, Lebanon, Beirut 


Arab Bank Branches in Europe: 


ARAB BANK LTD 


P.O.Box 138 P.O.Box 153 

Empire House 118 Kensington I 

8- 14 St Martin’s Le Grand London W8 7SD 
London EC1P 1DR. : I 


ARAB BANK LTD ARAB BANK LT] 
P.O. Box 153 P.O. Box 11074 

1 1 8 Kensington High St . 10 Stadiou Street 
London W8 7SD GR 10310 Athens, 

Greece 


ARAB BANK LTD ARAB BANK LTD 


Succursale de Paris 


ARAB BANK LTD 
P.O. Box4NE 


26 Av. des Champs-Elysees 1 14 Park Lane 


75008 Paris, France 


London W1Y4AP 


-3*500 workers 






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Mutual Funds 

CloslnPricn March », 19IS 


NEW YORK (APJ — 
The fall owing aueOo- 
IMU9, wmrilad (nr ttw 
National Atioclatian 
of Securities Deal- 
ers. Inc. are Me pric- 
es at strict! these 
McurlILn could have 
bean sold (Net Asset 
Value) or bouoM 
(value Phis sales 
choree) Friday. 

■M As* 


Exch 
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A GHiFd 7J8 flJfl 
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IASI 1504 -tolT CG 


Bid Alt 

Modi 10A0 NL 

SPGNl 1515 NL 

[Bowser 170 NL 

Botse 105JX1 NL 

IBdll 8. Bear Co: 

imovoll 
imavrril 
unavaD 
unaval 1 
9A3 NL 
Gama: 
17A0 NL 
14J0S NL 
1151 NL 
1IL44 NL 
1452 NL 
Bullock: 
754 BJD2 
115* 1253 
1752 l&n 

0.13 

350 359 
VOtO 1151 
1057 1159 

954 10.12 
Ml 1250 
122B 1152 
15M NL 

*57 NL 
1061 NL 
515* NL 
Funds: 
13.14 14J71 

955 1032 
*31 TJ2S 
6.98 755 

1153 125* 
Funds: 
1459 15-54 
4B51 4951 
49555005 
7455 16.12 
1159 1253 
70J7 1153 
7.13 755 
*54 7.13 
>.19 195 
1150 1257 
11551255 
Funds: 
12JU NL 
2X93 NL 
10.10 NL 
I lj4t 158 
' 2J1 117 

t Group: 

unavall 

unovad 
unavall 
unavall 
2*22 NL 
1153 NL 
555 NL 
7.93 NL 
4753 NL 
1*5> 17.93 
Funds: 
923 10*3 
951 95* 
U5 9.13 
9561IU2 
1X1* 1*57 
16512 NL 
10075 NL 
Witter: 
1052 NL 
r unavall 
1X64 NL 
1X08 1X54 
1002 NL 
7.19 NL 
92* NL 
1034 NL 
9.92 1033 
10X3 NL 
10J0 NL 
Grow; 
922 1020 
1551 1725 
1920 30.98 
754 524 
*B7 721 
1244 13*0 
11J4 NL 
1751 NL 
957 NL 
24J0 NL 
3*79 NL 
25-19 NL 
__ 1021 1074 

lore* Bur 1X49 19.16 

I Dreyfus Grp: 

A Bnd unavall 

I CofTx unavall 

I Drevt unavall 

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EmpBW 
Era Util 
Evrarn r 
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FPA 
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Federated 
CPCstr 
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GNMA 
Gwfh 
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Exch 
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NYTXS 


Vance: 
unavall 
unavall 
unavall 
Ul 722 
unavall 
unavall 
unavall 
■ unavall 

76.13 1753 
1157 1254 
15*0 1*46 
2X54 NL 
1043 NL 
1*53 NL 

Funds: 
TOM 1092 
>41 NL 

14.14 7545 
7*55 1842 
14.19 NL 

Funds: 
1057 NL 
3750 NL 
1021 NL 
959 NL 
1052 NL 
1088 NL 

77-77 1352 

1008 NL 
7034 NL 

1020 NL 

1021 NL 
1152 NL 
1*» NL 

Invest: 

1020 1030 
*51 NL 
5*46 NL 
1084 NL 
1X15 

195* NL 
2451 2532 
4735 NL 

15J6 NL 

run nl 

9.T1 NL 
177 NL 
1141 NL 
*29 NL 
7756 3X82 
*83 NL 
1000 lOla 

1356 1429 

957 937 
HUH NL 


NYTxMu T049 1060 


OTC 

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Purlfn 

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SetEn 
SelFIrv 
Sal Hit 
SsILel- 
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F inancial 
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FnctTx 
Indust 
incom 
WlidT 
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Govt 
Grertti 
incom 
intlSec 
Nat Ret 


1259 1329 

1141 1L7* 
1233 NL 
1354 NL 
1X90 1324 
1140 1141 

2122 22.1t 

2097 2140 
14.11 1440 
1151 1194 
21302152 
1(561934 
1159 1224 
992 NL 
3857 NL 
1X70 NL 
Proa: 
*14 NL 

753 NL 
1*19 NL 
*45 NL 
842 NL 

754 NL 
Investors: 

Bnd Ap 1240 1X37 
DISCO 1XM 1122 
1158 1247 
*92 754 
SM 3 *37 
11841X15 

599*55 

NYTxF 1235 1299 
90-10 1X23 l*4t 

537 547 
894 954 
I UN NL 
425 *29 
*78 NL 
445 45* 
Group: 
758 NL 
1435 NL 
1055 NL 
2599 NL 
Greua: 
145 350 
992 10.70 
5.73 553 
1030 1093 
953 1038 


Grwfh IXtl 1X14 
NY Tax 10-in 1042 
Option *53 7.03 


454 7. 
107 
755 734 
*39 
1*71 IS4S 
1097 1154 
1036 NL 
1*20 NL 
1448 NL 
[nv: 
1051 NL 
2351 
1053 
3*65 NL 
1051 NL 
113* NL 
3431 NL 
32JW ML 

949 NL 
1197 NL 
1150 NL 
1020 1959 

559 644 
1X2S NL 
7154 NL 
r unavall 
2260 NL 
Group: 
1073 NL 
991 1019 
1157 NL 
1353 NL 
937 NL 

950 NL 
1097 UL 
1020 1091 

994 1038 
unavoll 
Mutual: 
*24 NL 
5.92 NL 
527 NL 
*61 *77 
659 
499 


Optn 
Tax Ex 
FtoxFd . 
44 WIEq 
14 Wall 
Fnd Gift 
Founders 
Grwfh 
incom 
Mutual 
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Franklin 
AGE 
DNTC 
Emit tv 
FetfTx 
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Utils 
meant 
US Gov 
CalTx 
Ff-dGG 
Fd otSW 
GITHY 
GTPOC 
Gate Op 
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ElMin 
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GrdsEm 
GrdmEs 
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Homelnv 
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IDS 

IDS As r 
IDS En r 
IDS Inr 
IDS Bd 
IDS Db 
IDS Ex ... 

ID5 Grt 1*40 
IDS HIY 398 *19 
IDS Int 5.18 545 
IDS ND 851 896 
IDS Proe 493757 
Mot Ret *99 52S 

Mull 1151 
IDS Tx 35 
Stock 1*33 
Select 745 
variob 798 
151 Gi 

Grwth *71 
Incom 367 
Tret Sti HUM 
Industry *n 
int Invst 1197 
invst Ppm 
Equity 945 
GWPI 851 
H1YW 875 
Optn 876 
ITB Gf 

invBas 1033 
Hilncn 1398 
MOTF 1464 
Inv Rash *94 
I st el 1X11 

IvyGth 1342 
Ivylnsr 1134/ 

;JP Grtti 1177 
JP Inca 812 
Janus 1X31 

John Ham 

BOM 1432 
Grwth 1X37 
US Gvt 84! 

TOM Ex 933 
US GW 9.97 
Kaufmn .14 
Kemper Ft 
ColTx 1X13 

Incom ILlt 

Grow 1221 
HI Yld lOU 
lltfLFd 1X94 
Mun B 818 
Optn 11.18 
Sutnm 2432 
Tech 11.19 
Td* Rt 1394 
US GW 87V 

Keystone N 
Cus Blr 1547 
Cus B2r 17.98 
CUS B4T 748 
CUS Kir ~ 

Cus K2r 
Cos Sir 
CUS 53r 
Cus S4T 
Inti r 
KPM r 
TxFr r 
Kid Pea r 
LMH 
LeeeMos 



BM Ask 

1746 NL 
17.19 KL 
unavall 

Grp: 
1227 1X19 
355 NL 
744 NL 
853 NL 
1423 NL 
Group: 
Am Ldr 1159 NL 
Tx Fre 891 NL 


LehCaa 
Leh Invst 
Lev roe 
Loxtnotan 
CLdr fr 
GoldM 
GNMA 
Grow 
Reeh 
Liberty 


US Gvt 
LlndOv 
LJndnr 
Loans la 
Caplt 
Mat 
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Bnd db 
Dev Gt 
Incom 
TaxFr 
TaxNY 
vaiAa 
Lowry 
Lutheran 
Fund 
incom 
Muni 
Mass 
MFI 
MFG 
MS NC 
AASVA 
MIT 
MIG 
MID 
MCD 
MEG 
MFD 
MFB 
MMB 
MFH 
MMH 
MSF 
Mathers 
Meschrt 
Merrill 
Basic 
Caplt 
Ewj Bd 
Fease 
FtfTm 
HI Inc 
HI Qtt 
IntHId 
inTrm 
LI Mat 
Mun HI 
Munlln 
PacFd 
Phnlx 
SdTch 
Val 

AM 

MMAHI 
MSB Fd 
Midwest 
Bart b 
IntGv 
LG Gvt 
Mut Ben 
Mutual of 
Anw 
Grwth 

Incam 

Tx Fre 
MttQual 
Mut ShT 
Nat Avia 
Natlnd 


mS-a 


837 NL 
2X73 NL 
1942 NL 
Savlos: 
19.19 NL 
1752 NL 
Abbett: 
940 10.13 

1812 1156 

754 857 

XT8 326 

954 1052 
9431811 

934 1021 

944 1032 

Bra: 
1*72 1549 
856 951 
*84 720 
Flnancl: 
943 1817 
995 1045 
998 1827 

9.79 1028 
1159 1X50 
1150 1156 
897 947 

1877 1141 

1*47 1552 
11.17 1X04 
1X70 1X49 

945 9.92 

652 73S 

954 HUM 

7.15 791 
1958 NL 

2244 NL 

Lyneh: 
1*50 1551 
unavall 
1191 1X90 
943 1056 
1158 NL 
794 897 
1034 1099 
9.73 1042 
1845 1046 
998 958 
957 945 
699 728 
1550 1458 

1147 12,27 

unavall 
1248 1X35 
*52 7.13 
458 533 
1920 NL 
Graun: 
1888 NL 
1801 NL 
1052 1044 

1898 1250 

Omaha: 
957 ML 
*10 *63 
840 9.13 
954 1093 

1813 NL 
5452 NL 
953 1042 
1195 NL 


Nat 
Baton 
Bond 
CoTxE 
FedSc 
Grwth 
Prefd 
Incom 
RealE 
Stock 
Tax Ex 
To! Re 
Falrftl 
NotTeic 
Nationwide 
NatFd 
NatGth 
Nai BO 
NEUfft 
Eqult 
Grwth 
incom 
Ret Ea 
TaxEx 
Neuberper 
Emrrv 1894 nl 
G uard 4I3S nl 
L ib tv SM NL 
Mount 7.14 NL 
Farm 1452 NL 
NY Mun 159 NL 
Newt Gt 2*39 NL 


Securities: 

1*45 1858 

320 345 

11281191 
1128 1X10 
837 952 

734 7.94 

722 798 
797 842 
*41 1815 
845 892 
*34 454 
832 953 

1230 1X33 

Fas: 
10921159 
843 933 
9.17 991 
Fund: 
1942 2133 

2148 2335 

1037 1127 

1951 2131 

*79 7.11 
Berm; 


BIO Aik 
Newt Inc 817 NL 
Nicholas Grow: 
Nkhol 3934 NL 
Nlch II 1X38 NL 
N chine 348 NL 
NE InTr 1153 NL 
NE InGt 1X19 NL 
North Star: 

Apollo 1057 NL 
BOM 941 NL 
Retfon 1729 NL 
Stock 1X2S NL 
NovoFd 1X83 NL 
Nuveen 747 NL 
Omeoa 1131 NL 
Opaenhelmer Fd: 
AIM 1554 1*98 
Direct 1954 2148 


Ealnc 

OPDMI 

Gold 
HI Yld 
Prem 
Racv 
Sped 
Target 
Tx Fre 
Time 
OTC Sec 
PcHxCal 
Paine 
Atlas 
Amer 
GNMA 
HIY W 
invGrd 
TxExet 

PaxWld 
P«X1 So 
Porei Mu 
PermPrt 
Philo 
Phoenix 

Bulan 
CvFd 
Grwth 
HIYId 
Slack 
PCCp 
P ilgrim 
Moo c 
PAR 
Pllo Fd 
PllpHI 
Planner 
Band 
Fund 

II Inc 

III Inc 
Plltrnd 
Price 

Grwth 
G ttl Inc 
HIYId 
incom 
mn 
N Era 
N Hartz 
5bTrB 
TxFrl 
TxFrSI 
PrlnPTE ■ 
Pro 
MedT 
Fund 
Incom 
Prudential 
AdlPW 
CalAAun 

Eaultv 

Glob! r 

GvtSc 

HIYW 

HYAAu 

AAuNY 

NDec 

OptnG 

Qtvlnc 

Rsch r 

Utility 

Putnam 
Canv 
ColTx 
Caplt 
CCArv 
CCD IP 
EraRs 
irtfaSc 
Int Ea 
Georg 
Greinc 
Heal Hi 
H Whine 
HI Yld 
incom 
Invest 
MYTx 
Gain 
Tax Ex 
USGtd 
VMs 
Voyno 
Quasar 


739 7.97 
957 951 
727 795 

17.10 1834 
2151 2X51 
1288 1*58 
2056 21.92 
15991751 

8DQ 837 

1X9* 1420 

1*14 1757 

unavall 
Webber: 
931 1817 
1X28 1451 
945 1(U» 

959 1833 

*481811 

945 1058 
1134 NL 
844 NL 
449 NL 
10.90 NL 
829 954 
Seri... 

11.10 1X13 

1*13 1743 

1432 1545 
893 940 
1243 1X58 
1854 

Grp: 
745 825 
2X74 2X59 
1451 15.97 
851 834 
Fund: 
882 944 
2033 2X11 
1*31 17JQ 
1*12 1543 
1X30 NL 
Funds: 
1*35 NL 


1X0* 

9.98 
820 
1353 
1*31 
1342 
*98 
840 
552 
930 
Servlets 
999 NL 
MLW ML 
834 NL 

jn 

1028 NL 
15521881 
1134 NL 
999 1059 
994 1066 
1451 1447 
1027 NL 
1291 1X65 
1*38 1746 
1*78155* 
873 NL 
ia92 1149 

Funds: 
1390 1497 
1345 1*12 
*59 

4740 4863 
47384859 
11431X71 
1154 1X94 
1593 1741 
1136 1242 

18981250 

1750 1847 
1145 1X49 
1554 1*15 
*77 72* 
1023 IL1B 
1449 1542 

1154 1259 

2140 2260 

1*17 1*88 
1*21 1792 
1444 17.99 
49.10 NL 


Ralnbw 

RoaGr 

ROChTx 

Rovce 

SFTEaf 

Safeco 

Eqult 

Grwth 

inco 

Mimic 

5IPaul 


Bid Ask 
*10 NL 
1345 1*92 
957 1098 

792 NL, 
1054 1099! 

Secur: 
1O01 NL 
1730 NL 
1X61 NL 
1149 NL 
Invest: 


Canlt 

10.16 1081 

Grwth 

1147 1220 

Inco 

927 

986 

Saea 

1786 

NL 

Scudaor 

Fundi: 

ColTx 

984 

NL 

□aval 

5881 

NL 

CapGl 

15.18 

NL 

Grwlit 

1110 

NL 

Incom 

1124 

NL 

inH Fd 

yim 

NL 

MMB 

783 

NL 

NYTax 

1011 

NL 

Security 

Fundi: 

Adlan 

788 


Bond 

7.75 

8.14 

Eautv 

529 


Invast 

O04 


Ultra 

on 

883 

Setactod 

Funds: 

Am Sits 

1129 

NL: 

Spi Stu 

1888 

NL. 


Group: 
1152 1254 
1157 1250 
831 958 
524 541 
1139 1X38 
7.15731 
7 JO 746 
742737 
721 737 
7.19 735| 
75*741 
Groua:, 
1818 11.13 
*17 *74| 
1831 2051, 
1X89 1496 
3875 NL 

1099 11.941 

Funds: 
7189 NL 
1133 1193 
1887 1956 
1395 1440 
*59 725 
20.98 2X08 

1841 1938 

12931340J 
1X44 1*17] 
1*20 1*99 
*43 NO 
1887 Np 
Funds: 
1*13 1544 

JA & 

728 794| 
1192 1251 
, 951 1092| 

Barney:!, 
1X42 Np 
955 944 
1X11 1X91 
1540 14.19 
*71 NU 
2827 2134 
Stale Band Gro: 
Com St 531 550; 


SelWman 
CapFd 
CmStk 
Co mun 
Growth 
inco 
MOtsTx 
MlehTx 
MlnnTx 
NatlTx 
NY Tax 
OhloTx 
Sentinel 
Baton 
Band 
com S 
Grwth 
Sequoia 
Sentry 

Shear-sen 
ATIGI 
AarGr 
Aanre 
CalMu 
FdVaf 
Global 
HIYId 
AAgGvt 
MMua 
NYAAu . 
Sherm D 
Sierra Gt 

[Sigma 

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Inca 
Invest 
5 pcI n 
Trust 
Vent 
Smllh 
Eout 
IncGro 

USGvt 
SoGen In 
Swlnine 
Saver In 


Divers 
Prngre 
SiFrm Gt 
StFrm Bl 
StStreet 
EnSi 


*21 *791 

7.95 8491 

954 Np 
1344 NU 
Inv 

_ . 879B NL 

Grwth r 5544 NL 
invst 4890 4937| 

Steadman. Funds: 
Am Ind 250 NL 
ASSOC 53 NL 
Invest 140 NL 
Ocean 555 NL 
Stein Roe Fds: 
Band 834 NL 
COP Op 2853 NL 


Dteev 

Sped 

Stock 
TaxEx 
Tat Ret 
unfv 
StratCao 
Stratinv 
Slrat Gth 
Stronom 


943 NL 
1537 NL 

15J3 NL 
811 NL. 
2254 NL 
1*36 NL 
7.78 830, 
*82 745 

1753 NL 

1741 1739 


Bid 4 
SfrraT 1e97 1643 
Tel incSh 1399 
Temnteton Group 
Fran 1LU 1X17 
Global 1 3554 
Gtoa II 1157 1X10 
Grwth 10.12 1156 
World 1X34 1X49 
Thomson McKinnon: 
Gwtti 11*9 NL 



Con Inc 1526 1*48 
Kl Inc 1X01 1422 
1330 1*54 
444 *71 



Exchorae: 
*495 NL 
4876 NL 

7X53 NL 

ExFd I 10693 NL 
Exes I 9892 NL 



NL — No load 
(sales choree) . 

. I — Previous 'lav's 
quale, r- Redemption 
choree mav apply, 
x— Ex dividend. 


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For the Week Ending Mardb 29, 1985 


option A pilot Calls 


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r— NoitnxlKLx- 


Op«n Interest 1239X29 


PERSONALITIES PLUS 

MARYBLUME 

IN THE WEEKEND SECTION 
OF FRIDAY’S IHT 


Pace of New Business Accelerates 
lit Eurocommercial-Paper Market 


By Carl Gewircz 

International Herald Tribune 

. PARIS — The pace of new busi- 
ness in the emerging Eurocommer- 
cial-paper market is quickening 
and will gather speed, bankers pre- 
dict, as more and more companies 
rush to lock in the very favorable 
terms currently available. 

The latest to tap the market in- 
clude Travelers Corp^ Citicorp 
Capital Market Australia, the state 
of Victoria in Australia, Communi- 
cations Satellite Corp., Reed Inter- 
national PLC, Investors in Indus- 
try, Southwest Airlines Inc. and 
Bangkok Bank Ltd. 

Behind all this activity was the 
fear that borrowing costs could rise 
if banking regulators ever get 
around to establishing guidelines 
on the amount of off-balance sheet 
business commercial banks under- 
write or, in the absence of official 
guidance, if banks themselves de- 
cide to limit the growth of such 
commitments. 

There is no sign that either dan- 
ger is immine nt, although most 
market participants believe that 
one or the other is inevitable. An 
estimated $30 billion of such facili- 
ties have already been booked by 
banks, although only a small part 

— believed not to exceed $6 billion 
— -has been activated. 

But some bankers assert that 
putting together syndicates to un- 
derwrite the placement of short- 
term Euronotes is getting harder as 
the numbers mount. 

There is no overt confirmation of 
this. To the contrary, the group 
underwriting the S4QQ- milli on-noie 
facility for Imperial Chemical In- 
dustries PLC reads like a Who’s 
Who of international banking — 
the leading French, Dutch, west 
German, Japanese and Swiss banks 

— despite the very low fees, rang- 
ing from .04 to .1 percent, and 
averaging 1/16 percent for the 10- 
year life of the facility. 

The eye-catcher in the under- 
writing list is the sparse participa- 
tion of U.S. hanks — only Citicorp 
(which put it together), Manufac- 
turers Hanover Trust Co. and 
Chase Manhattan Bank — and the 
appearance of only one British 
bank, Midland Bank Ltd. 

Worth noting is the absence of 
Morgan Guaranty Trust Co. of 
New York from tins market. As the 
only U.S. bank-holding company 
retaining a triple-A rating, Mor- 
gan’s withdrawal must say some- 
thing about the unsound reward- 
to-risk ratio for banks backing note 
facilities. In fact, critics argue that 
deals are being arranged at ridicu- 
lously thin costs as banks compete 
to win “market dure" and estab- 
lish a leading position. 

Underwriters, of course, are not 
es-sentia l . A n umb er of non-under- 
written deals have been arranged. 
But that leaves issuerc at the mercy 


of the market: Either the paper can 
be sold or it cannot. By contrast, 
issuers of underwritten notes are 
certain of the costs that they will 
pay If paper cannot be publicly 
sold and banks are obliged to pro- 
vide the cash. 

The latest transactions are all un- 
derwritten. 

Travelers, a trip!e-A rated U.S. 

SYiVDICATED LOANS 

insurance company, is arranging a 

S400-million. five-year facility. The 

maximum rate that it will pay on its 
notes is 10 basis points — or 0.10 
percent — above the London inter- 
bank offered rate if the tender] 
el fails to submit competitive bit 
for more attractive pricing. 

The banks will earn an annual 
facility fee of 115 basis points. 
(There are 100 basis points in 1 
percent.) However. Travelers can 
put as much as it wants “on re- 
serve," for which it will pay a com- 
miuneni fee of only 6.25 basis 
points. Amounts on reserve can be 
upgraded to available with three 
months’ notice or immediately 


call a “redesignation" fee of 10 
sis points. 

Comsat's $ ISO-million facility 
runs for seven years. It will pay an 
annual facility fee of 115 basis 
points, which can be reduced to 10 
basis points on amounts that it des- 
ignates as “on reserve." However, 
Comsat is obliged to always keep at 
least 25 percent of the facility on an 
available basis. Moving from re- 
serve to available can be done at no 
cost with 90 days’ notice or imme- 
diately with payment of a fee of 
12.5 basis points. 

The Comsat notes will bear a 
maximum margin of ft-poim over 
Libor. If underwriters have to pro- 
vide the money, they will earn an 
additional sliding fee depending on 
the size of the drawing: 14-paint on 


amounts over SS0 million and ’A- 
point for more than $100 milli on. 

Southwest Airlines, whose U.S. 
debt is rated single- A, is seeking 
$30 million for uve years. It will 

E ay an annual facility fee of 10 
asis points as well as a commit- 
ment fee of 15 basis points on un- 
drawn “available” amounts and 10 
basis on ‘reserve” levels. There will 
be no tender panel bidding for 
Southwest's paper, but underwrit- 
ers wiQ simply be asked to provide 
short-term “advances.” 

The maximum yield on the paper 
is set at 25 basis points over Libor 
for the first two v ears and 33 punts 
over Libor for the final three years. 
In effect, this is a mini-max deal, 
with underwriters assured that they 
can get paper up to their pro-rata 
share of the underwriting at a mini- 
mum bid of IS basis points over 
Libor. 

Investors in Industry, owned by 
the leading British banks as wdl as 
the Bank of England, increased its 
seven-year-note facility to $73 mil- 
lion from the $60 milli on initially 
indicated. The operation is a stand- 
by facility, desired to back up the 
sale of commercial paper in New 
York 

Investors in Industry will pay an 
annual facility fee of 5 basis points 
for the first five years and 625 
basis points for the final two years. 
Banks will also earn a management 
fee of 625 points on their under- 
writing commitment. If notes are 
issued, the maximum yield is set at 
10 basis points over labor. 

Underwriters will have access to 
only pan of these notes — an 
amount that Merrill Lynch & Co, 
which is arranging the deal, would 
not spedfiy. Merrill and S.G. War- 
burg & Co. will jointly place the 
notes not taken by underwriters. 

Reed International, under the 
aegis of Warburg, is lapping the 
market for $50 million. The 10-year 
facility will also allow the company 
to issue notes denominated in 


FedPanelVotes 
To Keep Policy 

Nch- York Times Service 

WASHINGTON — The 
Federal Reserve Board dis- 
closed that some members of its 
Federal Open Market Commit- 
tee thought in February that a 
“firming” of policy might be 
needed to restrain monetary ex- 
pansion. 

But Lhe committee, according 
to minutes of its Feb. 12-13 
meeting, disclosed Friday, 
nonetheless voted. 12 to 0, to 
pursue an essentially steady 
course in the wake of an earlier 
decision that, by late January, 
had ended the progressively 
easier policy that the Fed had 
pursued over the final four 
months of 1984. The FOMC. 
the Fed's mam policy-making 
body, meets eight times a year, 
with an account of its delibera- 
tions published three days after 
the subsequent Fed meeting. 

In the February minutes, the 
central bank said, the FOMC 
members “also agreed that less- 
er restraint on reserve positions 
would be acceptable in the 
event of substantially slower 
growth in the monetary aggre- 
gates, especially against the 
background of sluggish growth 
in economic activity and con- 
tinued strength of the dollar in 
foreign-exchange markets." 


pounds. However, other details 
were not available. 

Details were also not immediate- 
ly available on Bangkok Bank's 575 
million, five-year certificate-of-de- 
at facility, or on the SlOO-mil- 
iwo-year facility being ar- 
ranged for Citicorp's Australian 
merchant bank. 

The state of Victoria arranged a 
$50- million, one-year underwritten 
facility on a private-placement ba- 
sis. The notes will carry a maxi- 
mum coupon of 25 basis points 
below the London interbank bid. 
rate. 


j Treasury Bills 

Due 

BM 

Ask 

YM 

4- 4 

756 

750 

751 

4-11 

756 

7-48 

7M 

4-18 

7.96 

7.90 

804 

4-25 

7M 

732 

756 

>2 . 

7.97 

773 

809 

> * 

8.18 

814 

832 

5-1* 

8J20 

816 

836 

>23 

820 

814 

837 

5-30 

8.1* 

812 

834 

> 6 . 

. . 820 

816 

848 

6-13 . 

BJ5 

831 

84* 

>30 

&20 

814 

842 

>27 

8.18 

814 

842 

7- 5 

... .851 

817 

816 

7-T1 

828 

824 

85S 

7-18 

BJ2 

838 

851 

7-25 . 

HJS 

834 

8*9 

> 1 . 

JU2 

834 

872 

> 8 

8-48 

842 

880 

>15 

852 

848 

858 

8-22 

854 

850 

892 

>29 

855 

851 

894 

9- 5 

854 

850 

80S 

9-12 . 

855 

841 

8.97 

>19 

857 

853 

981 

MS 

855 

851 

930 

10- 3 . 

859 

855 

9,06 

30-31 

8*4 

IL60 

9.13 

11-20 

8** 

842 

*.17 

12-2* 

857 

853 

932 

-1906- 




1-23 . 

170 

8*6 

939 

2-20 . 

872 

858 

936 

3- 2D . 

874 

872 

9-45 


Kredfethix Indices Mach 29 


(Bobo ioo Mavl, 1977) 

Indusrrtati. US 8 LT — 

Irtn Institutions US S LT 

US s medium term , 


Canadian * medium linn — 

ECU medium term 

DC 9 - 

DM. 


Guilders 

FF short term . 
FLux. 


Inn Inst. F Lux medium term 

F Lux medium term 

Inrt Inst. Yen lora term 

ECU mart term — . 

ECU lam term — — 


9L5B4 
9ft219 
101.928 
101.754 
1QSA09 
91.419 
98404 
101X23 
12010 
102JO6 
i04jm 
10X204 
1 01.159 
10*595 
105963 


Nedlloyd 


Worldwide Transport & Energy 

Nedlloyd Group, Houtlaan 21, 301 6 DA Rotterdam. The Netherlands 
Telephone number. (01 0) 1 7791 1 . Telex number 27087 ndgr nl 



& msm 


KEIZERSGRACHT 206-1016 DX AMSTERDAM - TEL HOLLAND 20.268685 


is pleased to announce the appointment of 

Mr.J.TH VERMEULEN 

as General Manager of our company. 


EFFECTENBANK VAN MEER & CO N.V. 
Members of 

The Amsterdam Stock-Exchange 
The European Options Exchange 


New Issue 


All the securities having been sold, this advertisement 
appears as a matter of record only. 


NATIONAL PATENT DEVELOPMENT 

CORPORATION 

New York, N.Y., U.S.A. 

Swiss Francs 60 000 000.- 

6% Convertible Bonds of 1985 due 1995 

BANQUE GUTZWMJLER, KURZ, BUNGENER SA. 

NIPPON KANGYO KAKUMARU (SUISSE) SJL 

SAMUEL MONTAGU (SUISSE) S.A. 

J. HENRY SCHRODER BANK AG 


BANKERS TRUST AG 
BANK OF LANGNAU 
BANQUE C1AL (SUISSE) - 
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BANQUE SCANDINAVE EN SUISSE 
CmCORP BANK (SWITZERLAND) 


BANCADELSEMPIONE 

BANCA UMONE D1 CREDfTO 
BANK HEUSSER & CIE AG 
BANK KONZLER AG 

BANQUE 1NDOSUEZ - Swiss Branches - 
BARCLAYS BANK (SUISSE) S-A. 

CONT1NENTAL ILLINOIS BANK (SWITZERLAND) 
DAI-ICtfi KANGYO BANK (SCHWEIZ) AG 


March 1935 


COMPAGNIE DE BANQUE ET DTNVESTfSSEMENTS, CBI 
THE INDUSTRIAL BANK OF JAPAN (SCHWBZ) AG 

INTBIALL1ANZ BANK ZOFBCH AG 

LLOYDS BANK INTERNATIONAL LIMITED 
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NEW JAPAN SECURITIES (SCHWEIZ) AG 

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SUMITOMO TRUST FINANCE (SWITZERLAND) LTD 















OS n PPP?PP?i??Pff?PPJ!fSffSflfS?25Z2ff2!S2Z222555??5FE , !??SJ?PS!?PiPS?fi , MMBeffBSB??PIPP , ®» l »wpaB®«BiiB r~ 1 


\ 










Page 12 


INTERNATIONAL HERALD TRIBUNE, MONDAY, APRIL 1, 1985 


PEANUTS 



BOOKS 


THE MAGIC KINGDOM 


By Stanley Elkin. 300 pp. S3 5.95. 
Dutton, 2 Park Avenue, 

New York, N. Y. 10016. 


Reviewed by Richard Eder 

T HE West has devoted itself to ’ 

Dr distracting so many kinds of Fate — 
plagues, mass starvation, childbirth mortality, 
human sacrifice — that it tends not to notice 
that Fate is not eliminated but transformed. 
Our Promethean projects have pretty wen 


stead of host to a huge abdominal tumor. 
Charles has an aging disuse that gives him the 
appearance and querulousness of a70-year-old 
invalid. Rena, dying from cystic fibrosis, is a 
swamp of rheumy discharges that she 
staunches with an enormous bagful of hand- 
kerchiefs. 


£ 


trampled up the metaphysical space that used 
to bold r 


i Fate, and we have nowhere appropriate 
to lodge the new versions that persist in crop- 
ping up. 

Eddy Bale is a battered, nervy English nun 
whose son has died in a storm of nationwide 
condolence and donations after 1 1 widely pub- 
licized operations. “May I please die n owT are 
virtually bis last words. So, when Eddy decides 
to do something about other wretchedly incur- 
able children, his notion is to raise money not 
for more treatment but to send them to Disney 
World. Fun will be their cenotaph. . 

To kickoff the campaign, he has an audience 
with the queen. She receives him in (he family 
roam, where serf and peasant are set out on an 
unfinished Scrabble game. The queen gives 
him a check for £50. He may show ir to other 
potential donors, and when he has raised the 
money he needs —he does, of course — he is to 
return it to her. The royal family does not stay 
rich by thoughtless munificence. 

And so, in a lavish burst of pain and wit, 
Stanley Elkin begins his latest novel, “The 
Magic Kingdom-” It is the story of a weird and 
touching pilgrimage: seven dreadfully afflicted 
children and five adults with inner afflictions 
of their own, spending a week at the contempo- 
rary equivalent of a shrine, “a Lourdes in 
reverse.” 

There is Janet, whose congenital heart flaws 
have turned her blue, a color she thinks of as a 
sign of beauty as well as mortality. There is 

Ben, misshap en and with a monstrously dis- 
tended liver and a lighting energy and courage. 
There is Noah, whose bones break serially 
from cancer, and who uses his pocket money 
for endless tiny shopping sprees; and Tony, 
dying from leukemia. 

Lydia wears a wedding ring so people wiD 
she is a pregnant child-delinquent in- 


Lyd 

think 


Solution to Friday's Puzzle 


“■pwr was Wilson — Dennis woke him uptd seethe 


EDtfQonj BBaoaa 
Boanana □□□□aan 
BEoanHa □□naana 
ODD □DHOBC1Q HE3D 

no □□□□□ aaaa 
□□nnn □□□ atnaaa 
□□□□□□ □ananoaa 
□□□□ □□an 
□□□□anas □□□□□□ 
□dheq aaa □□□□a 
deed aaana aaaa 
non nnaanaa ana 
BDmnaaa 
□EHDnaa anonaao 
GQBCina Qoaoaa 


Richard Eder is on the staff of the Los Angeles 
Times 


BRIDGE 


By Alan Truscott 


GARFIELD 


THAT SCRAMBLED WORD GAME 
■ s by Hern Amotd and Bob Lee 


Unscramble tnese lour Jumbles, 
one letter to each square, to farm 
lour ordinary words. 


YONIS 



n 

Ll 


STRON 


me 

□ 

□ 


SHUBIL 


Y "1 

[ — i 

1 — 


LU 

LJ 

1 1 

lJ — 



THE MAILMAN 15 GOING TO RUE 
THE RAV HE POT ON THAT SlLLV 
UNIFORM WHEN HE OPENS 
JON'S MAILBOX TOOAV 





O N the diagramed deal 
South made a well-rea- 
soned play, only to find at the 
end that routine play would 
have saved equally well. His 
agressive two no-trump bid 
was based on the assumption 
that spades would be led 
against three no trump, and 
the actual heart lead was a dis- 
appointment. 

East won with the ace and 
relumed the queen in the tope 
that his partner held the king. 
South produced that card, and 
was not inclined to pin all his 
hopes on a dub finesse. West's 
delayed entry into the auction, 
at favorable vulnerability, did 
not promise much, but be sure- 
ly held the diamond ace or the 


club king, if not boih. And his 
heart plays, the five followed 
by the three, indicated a five 
card suit 


by finessing immediately in 
clubs. But that would have 
been inferior play. 


So at the third trick South 
made an unexpected but well- 
judged move % leading a dia- 
mond. If West had taken his 
ace and knocked out the heart 
ten. South would have entered 
his hand with a diamond lead 
and taken a dub finesse with- 
out caring whether it won or 
not. 


NORTH 


In Practice West ducked in 
diamonds and the queen wan 
in dummy. Now South played 
the aqe and queen of dubs, 
establishing his nine tricks 
with complete safety, fn the 
post-mortem be found that he 
could have made an ovenriek 



* A 

7 JB2 
& Q 10 4 
*AQ J 18 8 Z 

WEST 

........ EAST 

* KS43 

|}|; * 9 85 2 

79G733 

ill 111 O A Q 4 

•& A 7 

O J 98 2 

6K6 

*54 

SOUTH (D) 

♦ Q J 10 7 

O K W 

4 KGS3 

*973 


North sad South wen vofaeraMr. 
The bidding; 


Sooth 

W>M 

Norm 

East 

PM8- 

Pass 

1 * 

Pan 

I 0 

DM. 

2* 

2* 

Z N.T. 

Pus 

3 N.T- 

Pass 

PUS 

Pan 




West led the bean Qve. 


SPORTS BRIEFS 


VENAHE 


_c 



in 


[WHAT LIONESSES 
AUGHT BE. 


Now arrange the circled letters to 
form the surprise answer, as sug- 
gested by tne above cartoon. 


Last Suspect, at 50-1, Wins Grand National 


A Book With Facts for Baseball’s Figurers 


Answer here: “ flUTTYTT] 1 


LIVERPOOL ( AP) — Last Suspect a 50-to-l Ioagshoi whose trainer and owner 
a, rallied undi 


had not wanted him to run. 


E under jockey Hyweli Davies in (he final furlong 


Saturday to win the 1985 Grand National steeplechase at Ain tree. 

Mr. Snugfit. sent off at 12-to-l, led over the final few fences but ran out of steam 


(Answers tomorrow) 

Jumbles: CASTE AGATE MEADOW CRABBY 


Answer. The most efficient waterpower in the 
world— TEARS 


and finished second; Corbiere, at 9-to-l and the 1983 winner, was third and 
Greasepaint, a co-favorite at 13-2. fourth. 

Last Suspect, in fourth place as the lead pack jumped the last of the 30 fences, put 


on a tremendous sprint in the final furkmg to catch Mr. Snugfit just before the 
finish. The victory was worth $87,000 to his owner, the Duchess of Westminster. 


WEATHER 



EUROPE 

HIGH 

LOW 



C 

F 

C 

F 


Alaorve 

20 

48 




AnwJrnJam 

ID 

50 

f 

48 


Amt ns 

la 

61 

9 



Borcalona 

16 

61 


52 

fr 

Btlorod* 

20 

48 




BorBo 

II 

52 



f 

Bniiieli 






Bnttartu 

17 

63 




Dodovesl 

20 

68 




CDPtn&oata 


46 




Cotta Dol So4 

23 

73 

6 

43 

fr 

Dublin 


59 




Edlnburali 

ID 

SO 



r 

Ftorancs 


63 




Frankfurt 

U 

57 



r 

Ganava 

15 

59 

4 

39 

o 

Helilnw 


3B 




Istonbul 

TO 

50 

6 

63 

r 

Un PolTFiu* 

S 

72 

14 

57 

fr 

LUt-ii.1 

24 

75 


57 


LOndSA 


9 




iwo-drld 

22 

72 




Milan 

16 

61 

8 

46 

o 

MSKSW 

6 

43 




Mnnidt 

20 

68 

5 

41 

o 

Nice 

1( 

64 

7 

45 

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Oslo 

6 

43 

-5 

23 

a 

Parts 

11 

64 

a 

46 

cl 

ptsmbo 

IS 

*4 

7 

45 

O 

RBVklnviH 

-2 

28 

-7 

19 

fr 

Rom* 

IS 

44 




Sfoacaelm 







17 





Venial 

la 

61 

5 

41 

d 

Vienna 

70 

Ml 

7 

45 

d 

Warsaw 

U 

64 




zorlea 

17 

63 

s 

41 

cl 

MIDDLE EAST 




Ankara 

il 

55 




Beirut 






Damascus 

20 

68 




Jematcm 

70 

61 



tr 

Tel Aviv 
OCEANIA 

22 

73 

14 

S7 

fr 

Auckland 






Sydney Zfi 

c?-cio<xtv! tetaoov 

U 

64 fr 
; n-hgiis 


HIGH LOW 
C F C F 

31 aa 35 77 r 

16 *1 1 3J Ir 

15 59 ID 50 o 

« 2 » H Cl 

3 O II H fr 

f A 0 32 fr 

17 63 5 41 fr 

32 «D 25 77 o 

22 72 J2 54 fr 

10 50 i 43 Hi 


Proud Truth Victor in Disputed flamingo 


HIALEAH, Florida (UPI) — Chiefs Crown finished first by a length in the 
$265,000 Flamingo Slakes on Saturday but was disqualified for cutting off Proud 
Truth and the latter was declared the winner. 


Although there was no contact between the two thoroughbreds, Hialeah Park 

“YoudTrut 

was third in the field of eight. It was 


stewards ruled that Chiefs Crown moved over into Proud Truth's path, > 
him from taking the lead. Stephan's Odyssey was third in the field of ei. 
Proud Troth's fourth straight victory. Chiefs Crown had won four straight 


preventing 


20 M 5 41 

26 79 2D 4B 

25 77 17 63 

27 El II 52 

26 79 13 U 

28 82 27 61 

2* 79 » J9 
20 68 6 43 


Weibring, Peete, Irwin Tied for Golf Lead 


LATIN AMERICA 


a 04P M Air— 26 79 16 61 

Llmo 27 81 18 64 

Mexico City 28 82 8 46 

RMUJantfro 30 86 17 63 


NORTH AMERICA 


4 
10 
* 
at 

Houston 19 

IHMHUi 25 

Miami 29 

Mbmocvon* I 

Mon t rea l 6 

Nattaa 2S 

How York 7 

Son FroatitCa 23 

SMftlO 14 

Tomato 5 

wnMneten 15 

fr u w# raa t; oc-Mfily 


s ■* 

72 15 

43 I 
39 1 
SO .8 
46 1 

79 20 

64 7 

77 II 
84 20 
34 -3 
a o 
V is 
45 4 

73 9 

57 6 

41 0 

9 7 

Cloud v: 


23 PC 

59 St 
34 Cl 

31 r 
It fr 
34 r 
« d 
45 fr 
52 Ir 
a tr 
27 tw 
33 pc 
64 pc 
39 f 
a fr 

43 PC 

32 d 
45 d 
r-raln; 


7 ring bogeyed u 

Saturday's third round of the Tournament Players Championship and dropped into 
a three-way tie for the lead with Calvin Peete and Hak Irwin. 

Weibring shot par-72 for his total of 208. Peete. whose reputation as golfs most 
accurate player was tarnished slightly by a shot into the pond oq the 17th, and 
Irwin, twice a U.S. Open champion, each played the third round in 69, 

Next, at 210, were Gary Hall berg, who closed with a 67. and Dan Halldorson. 
who shot a 72. Bernhard Langcr of Wtst Germany hit two balls into the water on 18 
and look a triple bogey-6 that put him at 75/21 1. On Friday, Langcr was fined $500 


for slow play, bogeyed four of sax boles on the back nine and dropped from the lead 
• second place — after shooting a course-record 31 on the front nine. 


to second place 

Weibring had shot 68 Friday for a two-stroke lead after two rounds. Seve 
Ballesteros of Spain, the British Open title-holder and a recent winner in New 
Orleans, failed to qualify for the final two rounds, shooting a 74 for a 150 totaL 


By Thomas Boswell 

Washington Pott Sfrnce 

WASHINGTON — The good news is that I 
have bought The Elias Analyst,” and it is the 
best bode cm baseball statistics ever created. By 
a multiple of about 10. It revolutionizes baseball 
statistics. 

The bad news is I’m not sure yet whether ray 
wife is going to let me sleep with it under my 
pillow tar (be rest of my life. 

Not a lot has been accomplished for the past 
week, because this 407-page tome of small print 
has been leaping upon me at odd moments, 
pinning my shoulders to the floor and forcing 
me to snicker with delight when I learn that, 
since 1979. Jim Rice of the Boston Red Sox has 
baaed .211 with men on base in late- inning 
pressure situations. 

For a decade, “The Elias Analyst" has been a 
shadowy cult document, once sold to as many as 
half the teams in baseball. It has caused trades, 
defined salary offers and stirred bad blood in 
arbitration cases. But until now it’s never been 
made available to the public. 

If you don’t really core about baseball’s 
quirks and internal mysteries or if you don't 
nave a knack for scoring human personality 
lurking behind cold numbers, then f Tbe Elias 
Analyst" might be the dullest book you ever 
saw. 

But if you find baseball’s details infinitely 
revealing, if you love fact as a starting point for 
poetic flight and psychological inquiry, then you 
may look at the $12,95 price tag and say. “I’d 
want it even if they moved the decimal point" 

Consider some of its more esoteric statistics: 

Cal Ripken of the Baltimore Orioles hit .398 
when the pressure was on in late inning s last, 
year. When men were on base in those ama- 


in two-out situations with a total of 101 runners 
on base. He drove tome two and stranded 99. 

Fred Lynn, the Orioles' expensive acquisition 
on last winter’s free-agem market, hit .225 and 
.191 in such vital circumstances. Over the last 
four years. Lyon has hit .204 with two outs and 
men in scoring position. 

His slugging percentage was .602 in Fenway 
Park with the Red Sox; it was .471 in Anaheim, 
California, when he was with the Angels and is 
J75 i a Memorial Stadium against the Orioles. 
In the 1980s, Lynn has not been able to hit left- 
handed pitchers, hit in the clutch or hit in 
Memorial Stadium. Why worry? He only has a 
56.8-rnilIion. five-year contract 


Oriole right-hander Dennis Martinez is one of 
frea 


baseball's freak “reverse pitchers." He is the 
master of left-handed batters but right-handers 
hit him as if he were lobbing the ball up to the 
plate underhanded. 

The Orioles should have a team eye examina- 
tion. In the last three years. Wayne Gross has hit 


JO 1 , .298 and .306 in daylight and .225, . i 92 and 
Lowenstein batted 31 


invented “the cards” that showed what every 
player had done against every pitcher in every 
ai-bat of his career — then it’s essential to know 
that Reggie Jackson of the Angels hits .483 
against Doyle Alexander, but only .050 against 
Aurelio Lopez. 

The “Analyst" studies every player and pitch- 
er in baseball in the following categories: 

Hitters vs. right- and left-handers; with run- 
ners on base or bases empty: under late- inning 
pressure; on grass and turf; home and road: day 
and night; with runners in scoring postion, 
runners in scoring position and two outs, run- 
ners on third with less than two outs and leading 
off innings. 

In each of these basic areas, the breakdown 
includes batting average, slugging average, on- 
base percentage, home run -walk -and -strikeout 
percentages and the player's rank in his league 
in every statistic. Each hitter has 290 different 
entries, plus a 10-year career synopsis, 
ichers < 


.175 at night- In 1984 
during the day versus .203 at night. 

□ 

All this, and much more, comes from just a 
cursory evaluation of one team. Baltimore’s 


Storm Davis can't jtitch with men on base and 


has little stamina. Mike Flanagan is the oppo- 
site, for his career having held opponents to a 
.214 average in late-inning pressure situations 
with men on base. Tippy Martinez can not pitch 
with the bases empty, allowing a .518 slut 


wiui tne oases empty, allowing a jib slugging 
percentage versus 35 with men on; maybehe 
should always pitch from tbe stretch. 


Gambler and 6th Tulane Student Arrested 


tons, his average jumped to Ml. Ripken also 
d off innix 


innings. The big at bats 


NEW ORLEANS (NYT) “A convicted gambler and a sixth Tulane University 
student were arrested Friday as the investigation into alleged point shaving by the 

nlnvn nK r ,u_ r 


school's basketball players spread off campus for the first* tim^. 
Roland Ruiz. 48, of New Orleans, was booked 


— CH AWSL: Rot**. FRANKFORT; Fair. Terra. 
i* “5 M— * (5V— 4BJ. MADRID: Fair. Temp. 

■ , JWik* ESK.-oSKS' W-751. SEOUL: Folr. Tam 

TUKVO: Tm * »-» «•-»»■ 


... . .... , on five counts of sports bribery 

and one count of conspiracy to commit spans bribery. Between 1974 and 1979. he 
pleaded guilty or was found guilty of gamming in three cases in New Orleans and its 
suburbs. He also was convicted of dealing in counterfeit money and was in federal 
prison in Fort Worth. Texas, from November 1981 to February 1983. 

The student. David 3. Rothenbag, 21. a senior from Wilton, Connecticut, was 
booked On one count of conspiracy to commit bribery of sports participants. 


hit J9S when he led < 
define the big players. 

His teammate. Eddie Murray, had a .838 
slugging percentage with runners on base in the 
late innings of dose games. Over his career, 
Murray has hit -323 under late-inning pressure; 

that is. from the seventh inning on frith his team 
tied or behind by three or fewer runs. Compare 
that to his overall average of 38. Murray’s 
tome run rate increases by nearly 50 percent in 
such dutch situations. • ' 

The worst year of all belonged to the Orioles' 
John Lowenstein, a star m 1983. He came to bat 


Baseball is a game of situations and circum- 
stances. Situation; men on first and third, two 
outs, late innings, close gome. Circumstances: 
left-handed hitter vs. right-handed pitcher, real 
grass versos artificial turf on the field, flight 
game, a road game for the hitter. 

Those dimensions have gone almost com- 
pletely unexplored because, until the last de- 


cade, the computer technology required to do 
the job cheaply and simply (fid not exist. Now 
the “Analysr can tell us everything wc~ k 
knowing about how players, and teams, perfc 
in different situations. And is can tell a gr 


it can tell us everything worth 
form 
great 

deal, though not everything, about circum- 
stances. 

If in you there is a shred of Eari Weaver — the 
little man who once managed the Orioles, and 


The poor pitchers only have 258 statistics 
each. Of course, the plavcr that each man most 
loves and hates to face fs here. too. Pete Rose’s 
worst batting average during his career is .095, 
against Bob Owchinko. 

The mas to thank for this masterwork, which 
ranks beside the Macmillan Baseball Encyclo- 
pedia as both a reference work and a source of 
idle joy, is Seymour SwoTf. 

He is the owner of the Elias Sports Bureau, 
which does the official statistics for the National 
league, the National Football League and the 
National Basketball Association. Stwoff is the 
king of statistics, and this is the crown atop bis 
meticulous life’s work. 

“To me, this is the book I always dreamed 
existed, so I created it” he said. “What amazed 
me was ii was the fans, not the teams, that 
seemed most interested in ii. Wien we decided 
to publish this book, do you know many major 
league teams had signed up to buy it for 1984? 

Not one." 

If the public doesn’t take the “Analyst" to ii* 
heart m a hurry, it may not live long in the 
bottom-line world of publishing. IT that doesn’t 
sjvay you. ihen think of it this way. The nett 
tone you see a manager send up a left-handed 
pinch- hi tier against Dennis Martinez with the 
game on the line, you’ll know exactly whaito 


. **w Wh v V 1 ya go to a bookstore sometime, 

va dumber : 



*’. TO v 


Their days at Disney World are irony — 
what do we' have to offer the doomed? — and 
Elkin's gallows wit makes full use of iL But it is 
no cheap shot he is after. The central, endlessly 

atoful and endlessly astonishing strength of 

is book is its depiction of seven spirits whose 
afflictions are not simply deformities but hori- 
zons as welL They are infinitely variable, un- 
predictable and alive. 

One has hysterics cm one of the rides and has 
to be rescued. One sneaks into a chaperone's 
room to spy on her undressing. Others go off 
on their own to do some gingerly sightseeing. 
Disney World distracts them for a while, but, 
soon, everything else pales beside their obses- 
sion with discovering a hotel room that one of 
the adults has secretly rented for privacy. Thai 
is precisely what each of the children longfon 
a place to be themselves and not freaks. 

The theme of individuality flowers gradual- 
ly. Colin, the homosexual male nurse, arranges 
for them to sunbathe for an hour on a small 
island in one of the lagoons. Boy s on one ride, 
girls on the other, too far for their nudity to 
reveal deformity, close enough for it to reveal a 
brief sunny intimation of sex. 

Colin, with his own quirks, is their good 
shepherd. He lakes them to a Disney World 
parade, but early, so that what they focus on is 
not the parade but the spectators. 

It is a climactic passage. There are the mid- 
dle-aged tourists with their sagging stomachs, 
dyed hair, wattles, wrinkles and wens. The 
language is typical of Elkin's verba! exuber- 
ance and larger-than-life speech. 

Colin's purpose becomes dear. “She’s had a 
bad day.” Janet says of the fat woman. “Coo! 
Who ain’t?" Rena says, crying. “Which of vs, 
hey? Which of them?" Earlier, one of them had 
said: “We are the children who die," but now 
Colin amends this: 

“I tell you, that's you in a few years, never 
mind those three-score-and-teu you thought 
was your birthright. All that soured flesh, all 
those bitched and bollixed bodies. You see. 
You see what you thought you were missing ?" 

Birin possesses a compassion that thunders. 
He is an extremist, a writer without silences, a 
pyramided His depiction of the children’s af- 
flictions is so graphic and carried to such an 
imaginative length that, frequently, it is on the 
edges of the unbearable. 

Sometimes, it crosses the edges. Hisstyle can 
be laborious. Trying to present inner emotion- 
al processes, it writhes and turns upon itself, 
relying upon italicized words that aim to con- 
vey a special intensity of feeling but eventually 
convey numbness. 

But in its wit, its ferocity and its imaginative 
sympathy, “The Magic kingdom" is another 
remarkable work of a remarkable writer, it is 
too loud at times, but we carry the noise away, 
as a camel carries off surplus water, and in the 
succeeding days, the noise becomes a troubling 
music. 


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ESTERN AT I ONAL HERALD TRIBUNE, MONDAY, APRIL 1, 1985 


/-i5i 


Page 13 


SPORTS 


Georgetown and Yilhmova NCAA Finalists 


New York Tuna Senice chaser, taihng Muflin all over the Georgetown leading by 32-28 but wounded od Sl John’s next trip scorer and a four-rime all-America, 

LEXINGTON, Kentucky — court. SL John’s had dosed the gap. In down the floor when Bill Warning- was forced to watch the final 10 

Georgetown came a step closer Sal- “David sacrifices a lot of his fact Georgetown, which was forced ton, the Redmen’s 7-0 senior cm- minutes and 21 seconds of his col J 

urday evening to proving what same” in that role, the coach said, into a half-court offense when St. ter. took the ball, spun without legiate career from the bench, hav- 

many have said m along: The “He is offensive-minded. He thinks John’s shut off the fast break, was hesitation and dunked over Ewing, ing fouled out After scoring only 

Hops are easily the best college shoot and then he thinks defense, content to bold the ball its last Eager to retaliate, Ewing tried to 10 points in the second half the 6- 

basketball team in the United so this was a tribute to him.” three possessions of the half. Ewing force up a shot, but the ball slipped 10 forward drew his fifth personal 

States. wingaie still managed 12 pomis, had picked op three fouls and spent out of his hands. Muilh's jumper foul as he attempted to recover a 

They overcame a ragged first and limited Muilin to just eight the last five minutes on the bench, then tied the score at 26. ball that had slipped out of his 

half and routed Sl John’s, 77-59, to shots in the contest Only three When Ewing left Georgetown With Ewing out and St. John’s hand as he tried, to shoot He had 
earn a berth in the National Colle- cam e in the second half, when was ahead. 30-26. He had nicked rehoundinp well, the Hovas dead- marL> ^.niu rKr»> nf htc nm. ; n 


ffcwtf*. : ;.g 


£ Wi-tfiC •• v 


urday evening to proving what 
many have said all along: The 
Hoyas are easily the best college 
basketball team in the United 
States. 

They overcame a ragged first 
half and routed Sl John’s, 77-59, to 
earn a berth in the National Colle- 
giate Athletic Association champi- 
onship game for the second consec- 
utive season. 

Georgetown, the defending na- 
tional champion and the No. I- 
ranked team in the news-agency 
polls with a 35-2 record, win face 
VXUanova (24-10) Monday night in 
a final pairing of Big East Confer- 
ence teams. 

VUlanova, which finished fourth 
in the conference during the regular 
season, upset Memphis State, 52- 
45, in Saturday’s opening semifinal 
game at Rupp Arena. Georgetown 
beat Villanbva twice during the 
regular season, by scores of 52-50 
and 57-50. 

The Hoyas will be playing in the 
title game for the third turn; in four 
seasons. Last year they beat Hous- 
ton, 84-75, and in 1982 lost to 
North Car olina 63-62. That was 
the freshman season for Patrick 
Ewing, Georgetown’s dominating 
7-foot (213-meter') center. 

Sl John’s was trying to make it 
to the championship game for the 
first time since 1952, when its only 
appearance ended in an 80-63 loss 
to Kansas. The Redmen finished 
the seasonal 31-4, a record number 
of victories for a Sl John's team. 
One of than came against George- 
town, but so did three losses — 
with Saturday’s by the widest mar- 
gin. 

Chris Muilin, the Sl John’s all- 
America guard who was averaging 
more than 20 pants, was limited to 
eight in the semifinal while Reggie 
Williams led the Hoyas with 20 and 
Ewing got 16. 

“we try to deny Chris the baD," 
said Georgetown's coach, John 
Thompson. “He presents more 
problems than any player I've had 


then tied the score at 26. 


10 forward drew his fifth personal 
foul as he attempted to recover a 
ball that had slipped out of his 


shots m the contest Only three When Ewing left Georgetown With Ewing out and St. John’s hand as he tried. 10 shoot. He had 
came m the second half, when was ahead, 30-26. He had picked rebounding weD, the Hoyas dedd- made only three of his nine shots in 
Georgetown blew open the game, up an offensive foul with 6:46 left ed to slow the pace with their 23 minutes of play ing 

The first half ended with bdore the break, then had his pride spread offense. W illiams drove in “They wouldn’t let him play bas- 



spread offense. Williams drove in “They wouldn't let him play bas- 
for a basket to break the tie, and ketbaU," said Tiger forward' Bas- 
Wemungton, too eager to work on kerville Holmes, who fouled out 
Ralph Dalton, Ewing’s replace- after getting right points and two 
menu was called for traveling. rebounds. “You haven't seen the 
Horace Broadnax’s jump sbot real Keith Lee” 
extended the Hpya lead to 30-26 McClain, the 6-6 forward, scored 
and, after aiwtber turnover by Sl on six of nine shots and on all seven 
John’s, Williams scored again to free throws, leading the scoring 
make it 32-26. with 19 points. He got six in the 

When Willie Glass, the Red- final 3:04 of the gami» when the 
men’s forward, missed two free Wildcats rallied from a seven-min* 
throws, Georgetown had a chance ute scoring drought During that 
to open its lead to eight points. But span, their 41-33 lead had disap- 
Walter Berry stole Bill Martin’s peared as the Tigers ran off right 
pass and Wennington was fouled straieht mints to tie at 41 od a 


pass and Wennington was fouled straight points to tie at 41 on a 
by Martin. The two free throws, rattling, 16-foot shot by the point 
cutting the deficit to 32-28, were guard, Andre Turner, with 3:37 left 


the last points scored that half. 
But the Hoyas, rebounding 


to play. 

But the Wildcats recovered, out- 


missed shots with abandon, out- scoring the frustrated Tigers by II- 


scored the Redmen by 7-0 to begin 4 before the final buzzer. Nine 


the second half, taking a 39-28 lead, points ramc on free throws. 

Martin’s jumper started things- Pinckney, playing with an upset 
After Mnfiin’s pass went off stomach that made him in during 
Glass’s fingers, Wingate’s free the second half, still got 12 points 
throw made it 35-28. After a miss and a same-high nine rebounds. 



by Sl John’s, Williams made it 37- despite playing against the Tiger m „„,, rr . ^ 
28 on a jumper. Williams then stole front line anchored by the 7-foot 7 *y 

Mullin’s pass and scored for a 39- center, William Bedford, the 6-7 - *1 

28 lead, all the cushion the Hoyas Holmes and the 6-10 Lee. fr 81 m ® 

needed. McLain had two assists and r ranee, 

ViHanova beat favored Memphis scored nine points, the final four 

Stale (31-4) of the Metro Confer- coming on free throws in the last 21 
ence by using a deceptive array of seconds that ensured victory. 
zone defenses and the unwavering “Andre Turner is a great player," 

poise of three seniors — center Ed he said. “Defensively, he’s a pain. 

Pinckney, forward Dwayne But I have to keep my bead because 
McClain and fiery point guard. I'm the senior. Now, I have to pat I 

Gary McLain. myself on the back for keeping my * 

The Tigers were held to their head and not getting frustrated.” — 

lowest point total this season, mak- Villanova's front line won the N HL Sts 
ing only only 19 of 50 shots, and rebounding battle, 16-14, an ac- 
were kepi virtually off the free- complishmeni it must match if they WA f 

throw line: They took only nine are to have a chance against 
foul shots and made seven, while Georgetown. And, according to v- Philadelphia 
the Wildcats, whose game-plan was Dana Kirk, the Memphis State coa- 
to take advantage of their foul- ch, they do have a chance. “If n.y. Rowers 
prone opponents, made 20 of 26 they’re just a Cinderella team,” he PIMsr,ur » h 
free throws. said, “then Cinderella wears NewJ,,rsev 

Keith Lee, the Tigers's leading boots.” *atwt»c 




■J*4 


Iff . 


to coach againsL Very few players 
know how to get open like he does. 




know how to get open like he does. 
We concede his shots. We worry 
about his passing.” 

David Wingate was the Hoyas’ 


Th« Aoooaud Prut 

Patrick Ewing, rebounding Saturday against St John’s, 
spent the last five minutes of the first balron the bench with 
three folds. Georgetown finally pulled away to a win, 77-59. 


SEASON-ENDERS — -While the hard tackle by Frenchman Jean-Patrick Lescarboura 
on Wales’ Richard Moriarty, above, typified the scrappy play of a Five Nations season 
finale Saturday afternoon in Paris, Ireland won the rugby tournament’s championship 
with a 13-10 victoiy over England in Dublin. Michael Kiernan’s 15-meter (49-foot) drop 
goal in die final minute gave the Irish a four-match record of three triumphs and a draw. 
France, with its 14-3 triumph over Wales, finished second on two victories and two thaws. 




Hockey 
NHL S tandings 


Basketball 


WALES CONFERENCE 
Patrick Division 

W L T PK OF GA 


National Basketball Association Standings 


V- Philadelphia SO 20 

x -Wash! ntf on 44 24 

x-N.v. islanders 39 33 


7 107 337 239 

9 97 306 211 
5 S3 336 301 

10 58 2BI 331 
S 53 262 3*0 
9 53 2S4 322 


Beating Indiana, 65-62, UCLA Wins First NIT Title 


xOuatwc 

x-Mantreal 

x-Buttalo 

x-Baston 

Hartford 


The Associated Press 
NEW YORK — Sharpshooter 
Reggie Miller keyed a 19-5 scoring 
burst early in the second half ana 
UCLA held an to defeat Indiana 
65-62 here Friday night for its first- 
ever National Invitation Tourna- 
ment basketball championship. 

Miller scored eight of his 18 
points as the Bruins wiped out a 35- 
31 deficit and moved into a 50-40 
lead with nine minutes left. The 


scoring with 43 seconds left, tying 
[became. 

TneHoosiers outscored UCLA 


by 6-2 to start the second half be- 
fore the Bruins started their ded- 


' x-St. Louis 

x-aucooo 

second mark to make it 62-58 be- Hazzard, who was a senior in 1964 keyed a game-deriding burst early *-D»iroit 
fore Alford, an U.S. Olympic team when the Bruins won the first of its in the second half as Tennessee 
guard, hit his 16th point to bring titles. overpowered Louisville, 100-84, in 

._j. - ’ - * - • — — Friday's third-place game. . — *“ 


Indiana within two. 


UCLA opened the 1984-85 sea- 


The Hoosiers farced a turnover, son with six losses in its first nine The lass snapped a streak of 13 


rive rum Bat it still wasn't a dnch, but UCLA retrieved the ball again games. “Everybody was burying us consecutive 20-victory seasons for 

nr In*-, L„„l. ..‘,1. I 1^ C -J “nr. » • i ■ , /-> l. r* /-V.™ T Unnoiiwr 


msors 2* 42 10 58 381 331 

Oh 24 *i S S3 262 3*0 

rsev 22 45 9 S3 2S4 322 

Adam* DlvIUoa 

k 39 57 9 87 310 258 

eal 38 27 II 87 289 251 

a 35 26 14 84 273 223 

1 34 33 9 77 285 273 

i 28 3V 9 65 262 311 

CAMPBELL CONFERENCE 
Narrlc DlvIUoa 

vl* 34 30 12 80 277 271 

H 36 34 6 7B 296 2B9 

It 26 40 II 63 30 347 

4010 24 41 12 60 254 307 

20 « 8 48 238 332 

Smyth* Dtvtitoa 

ntan 47 19 ID 104 378 280 

MO 42 27 8 92 344 319 

rv 40 27 9 89 345 286 


EASTERN CONFERENCE 
Atlantic Division 

W L Pet. GB 

x -Boston 59 14 .808 — 

x-PMIadalPiila 54 20 .730 5VS 

nbw Jersey 37 38 .493 23 

Washlnaton 36 37 .493 23 

Now York 24 51 J20 36 

Central Division 

V-Mllwaukee 54 21 .720 — 

x-Detralt 39 33 542 131ft 

Chicago 35 40 .467 l? 

Cleveland 31 43 A19 22W 

Atlanta 29 45 J92 2414 

Indiana 2fl 54 -Z70 33Vs 

WESTERN CONFERENCE 
Ml dwelt Division 

x-Oenver 48 26 449 — 

x-Houston 43 30 .589 4W 

x-Daikis 41 34 J47 71* 

San Antonia 37 38 A93 life 

Utah 37 39 .487 12 

Kansas aty 30 45 MO lBte 

Pacific Division 

y-UA. Lakers 54 19 J40 - 


54 21 .720 — 

39 31 542 UVi 

35 40 A67 19 

31 43 A19 2214 

29 45 J92 34 Vi 


as Indiana kept battling back with and Miller, breaking free at mid- at the be ginnin g of the year," said 
center Uwe Blab contributing key court, went in uncontested for his Hazar d. “We just worked hard, 
points and rebounds. Blab finished game-clinching layu-up. Any time you win a championsh ip, 

with 11 points and 12 rebounds Brad Wright, the hero of you run through a test And this 
before fouling out late in the game. 


Wednesday night's semifinal vie- was our test. 


Any time you win a championship, 
you run through a test And this 


The Bruins, after assuming their tory over Louisville, cap 


The vicloiy was the 12th in the 


Coach Denny Crum, whose Louis- VancouveT « 44 
ville team finished the season at 19- £SlS3SiSK> 

18. FRIDAY’S RESULTS 

Tennessee had the game in hand J J 

virtually from the middle of the NauMdaOT.Turotoncau.Fomirosm. 


33 31 13 79 327 313 

34 44 8 5* 271 386 


Portland 
Phoenix 
Saattle 
la Cllppars 
Gokton State 

ix-tilfiehad playoff berth) 
l y-cllndwd division title) 


Pacific- 10 team seemed to have 50 T W bdd leads of nine game’s scoring with a foul shot with last 13 games for UCLA, which 

mattere in hand before the Hoo- P?™ 15 l J irce Innes > the last at 61-52 one second left and the Bruins, who finished 21-12. The Hoosiers closed 


first period, when the Volunteers Praxis cm cromueon <*u Gretzky imi. 
led by as many as 18 points Wore "!£££ 


riasmade aspirired wnreback to wth a little more than a minute to won 10 NCAA championships in 

lie Hoosien male il lgftjtQd TO, wl£3lT titliS ix 


™^kfL l °” Sj,lmPer ' ri,ll22Sa> ”^»«l. 


their season at 19-14. 

Indiana placed Alford and Blab 
on the all-tournament i«mr they 


Louisville cut the margin to 53-41 (on wct*ii 11 - 5 - 16 - 32 ; Hanford ion mooo. 
at the half. Fohri n-te-7 — 3 *. 

But Richardson scored 12 points ? 5 ^3 

trigger a 75-54 Volunteer lead Niiuon osj. Loob iisj.ivacinntxiMi.siiots 


six straight points “We ran a psychiataric ward joined UCLA's Miguel, Anthony 


FRIDAY'S RESULTS 

Portland 40 26 29 38—125 

Saattlo 27 19 34 29- 99 

Vandeweahc 1D-1S4-52*, orexlar 9-13 5423; 


IFERENCE lane 1«), Boston 58 (McHahB 131. Astlits: Phll- 

Ivlsloa adabdiia 21 (Joan. Cheeks 5). Boston 27 

W L Pet. GB (O_lohnson 81. 

59 M 808 — New Jersey 22 31 2D 25—98 

54 20 .730 5VS Washington 23 38 32 29—122 

37 38 .493 23 Malone 10-16 5-5 2& McMIllen 10-17 0-0 20; 

36 37 .493 23 Brrwer6-l32-2l4.B.Williains445*613.K<nB6- 

24 51 JOT 36 131-1 11 Rebound*: Now Jersey 50 [B.WII- 

vision Hams 8), Washington 68 (RoMnson 131. As> 

54 21 .720 — sMs: New Jersey 21 (Cook 7). Wasninaton 38 

39 33 542 1314 (Robinson. Gu* Williams. Dave 81. 

5 2 MW* |ndtena WTURDAYTI "ESULn ^ 

» S ^ ™ SSL. S 5 5 5=w 

,?L„ Br p Free 12-23 M 27. Janes 6-103-4 15; Sllpano- 

toWtaT vich 6-12 10-10 n, KeUaaa 6-14 8-10 20. Re- 

us boands: Indiana 52 (Keftom. Fleming 7). 

*! TJl CJevelandS3 (Hubbard 9). Assists: Indiana 20 

U J „ J? (Fleming 91. Qeveland 38 (Davis 81. 

17 38 MS llto «-*■ Clipper. 43 M 24 32-123 

37 39 JD {» WM *" bt » 31 19 27—11* 

2 * L Smllh 10-17 8-11 2& BrUgeman 9-14 3-4 21; 

-wu ion Adams 7.13 4-I1A Lucas 7-14 2-2 16. AAacv 7-12 
T?, 1-1 16. Rebounds: UL Clippers 51 (Cage 11), 

rt w sn I* Phoanlx49 (Adam* 9). Assists: LA Clippers 

« S Tn ■»!* 32 (Nixon 7). Phoenix 27 (Luca*. Adam* 6). 

2 S m ££ P0rttod 33 34 25 25— 117 

« 48 J6D 2B^ DMver 24 JO 32 33-129 

os « w 5 “o” H-M 12-12 3A English 8-23 5-8 21; 

, -2*7 35 M.Thompsan 10-18 3-4 23, Draxler 9-18 3-3 21. 

1 Rebounds: Porttontl53(M.Tliampsan9),Den- 

ver 48 (Dunn 8). Assists: Portland 27 

„„ __ (M.Thampsan 7), Denver 40 (Lever 16). 

Ahanra 22 26 26 21— 95 

2 « « _ „ Milwaukee 25 23 28 3P-M6 

Grovw 7-134-6 19,Makeskl 6-15 5-5 17; Wll- 
w- -T. . kin* 7-22 8-9 22. Carr 7-13 ^2 16. Rsbaands: 


48 26 A49 — 

43 30 J89 iVi 

41 34 J47 71* 

37 38 .493 life 

37 39 487 12 


37 38 493 18 


30 44 405 2416 

27 48 .360 28 

20 55 .267 35 


Allanla 59 (Rollins 10). Milwaukee 62 (Ma^ 
Rebounds. Portland 58 (M. Thompson ?5)«5e- umvi i Mm- inkfc- Atipintn-m t lotymm 


to trigger a 75-54 Volunteer lead 


— four by Krcigh Smith — to pull most of the year to get bade the Richardson of Tennessee and Billy Brooks, who had 26 points forTen- 


with 14 minutes left. Michael ^ 10 ’ 5 ' 16- 

n i 31; Calgary (on Eilat) 9-12-7—38. 


attle 52 (Vranes 8). Assists: Portland 24 (Col- 
ter 6). Seattle 25 (Henderson 6). 

Dallas 32 29 32 22—115 

L-A. Lakers 33 28 33 26—120 


keskl. Lister 13). Assists: Atlanta 20 (Johnson 
7), Milwaukee 24 (Presser 8). 

PtiUadelPbla 35 32 29 26—122 

CMcauo 26 32 24 25-117 

Malone 11-22 9-12 31, Berkley 9-12 4-7 22. 


But then Miller scored the 51.58 with :32 rcmaimiig. amfi deuce and self-esteem of the 

rnctang points on a breakaway Hatcher hit a foul shot at the 31- players,” said UCLA Coach Wall 


basket with 15 seconds remaining. 

Nigel Miguel tied Miller for 
game-high scoring boom's with 18 
points, including a couple of key 
foul shots in the two minutes that 
kept the Bruins in charge. Montd 
Hatcher added 14 points to a bal- 
anced UCLA attack. 


of Louisville, 
on scored 30 points and 


nessee (22-15), made eight foul wmmppg 


1120-5 
282 0—5 


shots down the stretch. 


Goulet’s 2 Goals Spur Nordiques to 3-1 Triumph 


United Press International 

QUEBEC — Coach Jacques 


The ga«»» was a heady defensive Demers thought his SL Louis Blues 
struggle from start to finish, with matched up oretty evenly against 
UCLA’s man-to-man press causing ih® Quebec N ordiq ues Saturday, 
difficulties for the Big Ten Hoo- J?th one big exception — Michd 


tiers, but the teams were never ^^ et : . , , vr 

more than rix points apart in the Goulet earned the Nordiques to 


first half and were tied 29-29 at 
intermission. 

Scoring nine erf his team-high 16 


NHL FOCUS 


a 3-1 victory, scoring twice and 


said. “Neither team had many scor- 
ing chances, but the difference is 
that we have no Micbd Goulet on 
our ride." 

Elsewhere Saturday it was Phila- 
delphia 3, the New York Rangers 
0; Montreal 7, Boston 3; New Jer- 
sey 6, Pittsburgh 4; Buffalo 2, Hart- 
ford 1; Washington 4, the New 
York Islanders 3; Detroit 9, Toron- 
to 3. and Los Angeles 3, Minnesota 


the third period as be completed a 
1 the difference is play with J.F. Sauve and Alain Le- 
Micbd Goulet on mieux. W3f Paiement gave the 
Nordiques an insurance goal at 
urday it was Phila- 16:51 01 tie lhilld penoi taking a 
lew York Rangers pass from Goulet at close range, 
toston 3; New Jer- The victory was Quebec's third 
4- Buffalo 2, Hart- “d lifted its record to 9-2- 

igton 4, the New 2 in the last 13 games. 

; Detroit 9, Toron- E*® team m the opening 
aeles 3. Minnesota Goulet ^ ** 5:14 


points before halftime, Alford was adding an assist to hdp keep Que- 


the primary reason Indiana stayed bee in a tie with the Montreal Can- 
in the aame. His three baskets adiens for first place in the Adams 


2, On Friday it was Hanford 8, b y P utlin S Maxweffs re- 
Edmonton 7; Chicago 5. Winnipeg SL Louis goalie Greg 


game His three baskets adieus for first place in the Adams 
move the Hoosiers from an Division. 

8-6 defidt into an 18-12 lead with “In view of the fact that both 
10:14 remaining in rhe half. Miller, teams are going for a champion- 


voted the tournament’s most valu- ship, you had to expect a tight- 
able player, capped the half by checking game like this,’' Demers 


Golf Looking for a Top Dog 


5, and Calgary 3, Los Angeles 0. 

Goulet has scored 57 goals in a 
season, but he thinks a new person- 
al high is in right this year. "We still 
have five games left, and I should 
be able to gel a couple more," he 
said after scoring Nos. 51 and 52 of 
the 1984-85 campaign. 

That would be just fine with 
Quebec coach Michel Bergeron, 
but he also likes the timing of his 


Milieu. Denis Cyr netted his sec- 
ond goal in two games for the Blues 
at 12:07 as he took a feed from 
Mark Reeds before beating Mario 
Gossdin from the lower circle. 

■ Oilers’ Karri Out 
Jan Kufri, who leads the NHL 
with 70 goals and ranks second in 
scoring behind Edmonton team- 
mate Wayne Gretzky, will be side- 
lined for 10 days with a broken left 


The Associated Press 

PONTE VEDRA. Florida — PGA tour Commissioner Deane 
Be rn an said the aim in the Tournament Players Championship, being 
bdd on the Flayers Club at Sawerass, is to identify “the best golfer in 
the world." In a couple of months the same course —using the same 
lees the touring pros wore facing last week — will be the testing 
ground to “determine the worst golfer in the world," Beman said. 

I “Golf" said the commissioner, “is not completely the deadly I 
I serious affair that it can be on the tour. It’s fun, a game for a lifetime. 1 

l And we want to keep the fun in it." 1 

| With that in mind, he agreed to provide Sawgrass, the home course 1 
I of golfs touring pros, as the rite for what is billed as “Golfs Longest 1 
1 Day," sponsored by a national golf magazine to determine the numero 1 
1 imp among hackers. | 

\ The ULholc, stroke-play championship will bring together two 
fmntiotc fiotn more (ban 500 nominations. The match will 

begin at noon, June 19. It is not known when it will end. 

“To qualify" a ma garine spokesman said, “a competitor must be a 
man between the ages of 25 and 55, with no physical handicaps, who 
bolds an established USGA handicap of at least 36 (the maximum), 
plays more than 21 rounds a year, loves die game and has a sense of 
humor.” Nominations dosed as of April 1. 

Among the nominees: 

• Michael Bush of Bcflee Cbasse, Louisiana, who, playing m an 

amateur tournament, failed to drive as far as the ladies’ tee on Hof 18 
holes. _ 

• Jerry Ryan of Bohemia, New York, . who claims a wonting 
handicap of 76. 

• The Reverend David Willoghby of Meridian, Mississippi who 
has played in the Preachers’ Golf Association championship twice a 

, year for rix years has failed to do me in last only once. 

? *Nick Telczyn of Terra Haute, Indiana, who once shot precisely 

100 over par without losing a ball. He did lose a club. 

• Ray Walker of Lake City, Florida, who has had some experience 
on theTPC course and the island green of the 17th hole. “He emptied 


winger' s scoring. “Goulet gets the hand, The Associated Press report- 
important goal and that’s what you ed from Hartford, Connection. 


need, especially going into the 
playoffs,* Bergeron said. 

Goulet gave Quebec a 2-1 lead 


Kurri was injured in Thursday’s 
3 defeat in Boston, and did not 



Lamwr 2 (46). DuWHii (3). Ganinar (14), 
Lvslak (14); HaweretxHc (SOI, MaeLean 2 
(41). Babycn (12), EIMK (11). Stoats on aaal: 
Oilcaoo (on Havword) 8-12-12-3 — 35: Winni- 
peg (on Skorodmki) 12-13-13-1— 38. 

SATURDAY'S RESULTS 
N.Y. R angora 8 0 0—8 

PbUodalptita 1 2 8-2 

SlnlsolD (36). Hows (18). Cravon (261. Shots 
oaooal: N.Y. Rangers (an Froose 1 15-7-8—30; 
PnilcuMphla (an VarUXettrauk) 5-9-10-24. 
Montreal I 4 2—7 

Boston 2 18-3 

Smith 2 (15). McPhM (161. Haxlund 3 (41). 
Hunter (20). Tremblay (29); Thailn(5),Court- 
nali mj.Kiupw (15). Stoats on goal: Montreal 
(on Pinters) 9-14-10-33; Boston (on Penney) 
9-14-5—28. 

Piltstouroti 1 1 2—4 

Now Jtersov 2 2 3-6 

Proston 3 (12). Russell (4). Aaoms <12>. 
Gagne (24), MacLtati (12); Rlssllna (10). Ln- 
mlaux 2 (40). Shadcbh (35). Shots oo goal: 
Pittsburgh [on Low] 5-7-9—21; New Jersey 
(on Herron] 13-15-17—45. 

Minnesota 0 1 1—2 

Los Aneetes 111—3 

Toy (or (37). Engbiom (4), Nicholis (46); 
Acton (28), Berg Umd (9). Stools oa goal: Min- 
nesota (an Jonecvk) 5-14-11—30; Las Angeles 
(on Me lochs) 11-6-17—31. 

Detroit 1 1 7—9 

Toronto 1 8 2—3 

Gore 2 (27). Gallant (51, Oonxlnldk (SS). 
Duouay 136). Yunnan 3 (29). KHk) (19); An- 
derson (27). lofroie Ul. Thomas (11. Shots oh 


■g if Toney B-134-422; Jordan 13-1 m-1338,001 lev 

M. McAdoa 11-14 Mg. - Aouln» 1M Ml a ]0 -!3 56 25. Rebooods: PhUodelphlo *S (Mo- 

l0ft * ‘^'ChXawo 4 ® ‘OUliwm *). Assists: Phli- 
( PwMra 10),L^ 48 (AIxtoKtaWxv B). ,^^10 v (Cheeks 121. Chlcogo 26 (Wlwtlev 


Assists: Dallas 33 (Davis 12). I-A. Lakers 31 
(Johnson 13). 

50n Antonio 29 22 38 28—189 

Ulato 19 23 35 27—114 

Dantley 7-15 13-13 27. Griffith 9-28 3-5 22; 
Mlichell 15-31 8-8 38. Gilmore 5-11 7-6 17. Re- 
ba antis: son Antonio 42 (Gilmore 11), Utah 54 
■ Eaion 13). Assists: Son Antonia 27 (Moore 
18), Utah 39 (Green 11). 

Golden Slate 28 28 32 27—116 

Houston 34 32 26 29—171 

Sampson 11-19 4-7 26, Reid 9-13 2-2 20; Ftovd 
6-155-5 19, Smith 9-13 0-4 1& Reboaads: Golden 
Stale 47 (Smith 11). Houston 59 ISamoson 14). 
asms: Golden State 24 ( F layd 9). Houston 33 
(Lucas 10). 

PhlladatPNa 19 25 27 37—148 

Boston 35 27 » 26-112 

Bird 10-15 44 24. McHala B-17 6-7 22. DJohn- 
lon 7-128-11 22; Malone 8-17 6-6 22. G-lohnson 
9-13 34 21. Rebounds: Philadelphia 54 (Mo- 


71. 

Utah 21 33 18 34— 96 

Houston 36 13 29 29-106 

Samason 14-22 8-11 36. Ltovd 9-17 2-3 20; 
Bailey 10-15 0-0 20, Griffith 6-16 3-4 17. Re- 
bounds: Utah 48 (Eaton 14), Houston 55 
(Otaluwon 10). Assists: Utah 26 (Stockton 6). 
Houston 30 ILtoyd 9). 

Golden State 28 34 28 31—121 

Kansas City 31 36 30 48—137 

Thorn is-14 44 28. Theus 10-14 64 26; Short 
8-I61M1 27, Smllh 7-10 5-7 19. Rebounds: Gold- 
en State 43 (Smllh li). Kansas City 44 (Thorne 
fit). Assists : Gowen Stole 25 C F toy d 81. Konsns 
Cltv 38 (Theus 141. 

New Jersey 11 35 26 31—12] 

New York 30 27 27 30—114 

King 12-16 *4 28. Gmlnskl 5-9 13-14 23; Ban- 
nister B-17 4.7 20. Ballev B-14M 18. Rebounds: 
New Jersey 48 (Williams 10). New York 53 
(Ballev 141. Assists: New Jersey 26 ( Richard- 
son 10). New York 25 (Walker 7). 


Soccer 


College Tournaments 


ITI.sw.ixmtnxu. WORLD CUP QUALIFYING 

nesofa (an Jonecvk) 5-14-11-30; Los Angeles ASIAN G ROUP 2A 

(onMetoche) n -4-17-31. Malaysia 5. Nepal 0 

r OTrn " : ‘ ! Potats Staaategs,- MatavsIO 5, South Korea 

Toronto 1 0 2 « b riflpoi 1 

Gore 1 I O), Gallcmt 151. Dgrodnlci . (MJ. RamalalDa Matches: April 6. South Konm 
Duouoy U*) . Yzerm an 3 (29), Kl sto «1W. An- vgLMaoafs May I9.Soulti Korea vs. Atotovsia. 
dtraon (Z7)ilofraii I5)g Thomas (11. Shots on asiaii group 3*b 

« ■£ T0 - Bangladesh 1. India 2 


NCAA 

National semifinals 
(March 3a at Lexington, Kentucky) 
VUlanova 52. Memphis Sf. 45 
Georgetown 77, SL John's 59 
CtlQQlfliORtlllp 

(April 1, at Lexington. Kentucky) 
Vtltonova, 24-la vs. Geonietown, 35-2 


rente (an Mlcalefl 9-4-11—24, 

Buffalo 8 8 2—2 

Hartfaro 1 0 8—1 

OrlandollI.Ruff (it); Turgoon (31). Shots 


Points Standings: Indonesia a Thailand X 
India 3, Bangladesh 0. 

Remaining Matches: April Z Bangladesh 
vs. Indonesia: April 5, Bangladnh vs. Thai- 


oeoaal: Buftola (on _LtoM n-l5-HM6; H<xt- laM . AB|1( & lndio ^ m^onwia; April 9. 
torg to o Barro ssoi India vs. Thailand; April 12. India vs. Banglo- 

H.Y, unnoen 1 ■ desh. 


NIT 

Cbamptaaship 
■March 29, at New York) 
UCLA 65. Indiana 62 

Third Place 
Tennessee 100. Louisville 84 


6-3 defeat in Boston, and did not 
dress for Friday’s 8-7 loss to the 


wiihhissecondgbalofiheaame.lt Whalers. Club officials expect 
came on a power play at 12:08 of Kurri back, for the playoffs. 



Jari Kurri: broken left hand. 


N-Y. islander* 1 1 1-4 ltmmH 

Washington 2 1 1—4 

Laughlln2(16). Haworth 122). Gartner (47); ENGLISH FIRST DIVISION 

Tonelll (41), Kortto (2). Potato (17). Shots on ^ ° 

W - T7; Norwich rSwenhv 1 

Washington (on Smith) 8*4-22. Nottingham Forest 1. West 

- Oueento Parte Ronaen Z W 

asurrsiss 

on goal: St. Louis (on Gossalln) 9-7-4—20; stok . , Araanni D 
Qtwbec ion MHten) *.10-7-21 a*JL, n. nviw, e 


Tournament Tennis 


Nottingham Forest 1. west Horn 2 
Queen's Parte Rangers 2, Watford 0 
Sheffield Wednesday A Newcastle 2 


Clippers’ Hot 1st Period Sinks Suns 


The Auocldiai Press 

PHOENIX, Arizona — One way 
to win is to shoot the lights out 
early. 

Hitting 2D ot 23 fidd-anal at 
[ tempts, the Los Angeles Clippers 
shot a blistering 87 percent in the 


second period to keep Phoenix and Junior Bridgeman added 21 to 


opening period to build a 43-27 
first-quarter lead before coasting 


first-quarter lead before coasting 

NBA FOCUS 

home to a 123-114 National Bas- 


close. pace the winners. Alvan Adams led lnh3nd 

Elsewhere Saturday it was Geve- Phoenix with 18 points; Lucas and 
land 117, Indiana 94; New Jersey Kyle Macy had 16 each. wot« 

123, New York 114; Kansas Gty All-star forward Larry Nance, 

137, Golden State 121; Phil add- making his first appearance after ^^ml 
phia 122, Chicago 117; Houston misting 12 ganos with a groin inju- 
106, Utah 96; Milwaukee 106, At- ry, scored seven points for the l 
lanta 95, and Denver 129. Portland Suns. 1 


W D L PF PA PK 
tend 3 1 0 67 49 T 

once 2 2 0 49 30 6 

island 1 1 1 29 29 3 

Bta, 1 0 2 37 56 2 

at land 0 0 4 46 64 0 

ttomotahn mnar. hsrtl VL Walts w Eo- 


Football 


ttufn If 3 ‘ . • 7 - . u.- wvuwwuurti uoua in uiu 

‘ : 'V>' :r A •' wiwn k® Sa 76 m 3 * We look an X- ■ 

W : 1 , — ; : 


ketball Association victory over 
Phoenix here Saturday night 

Said the winning coach. Don 
Chaney: "If we come close to 
shooting like that every game, I 
wouldn’t worry about anything. 
The first quarter was jurt an excep- 
tional quarter.” 

James Donaldson’s jumper at 
8:54 of the first period gave (he 
Clippers a lead they never surren- 
dered. The Suns narrowed the gap 
to 67-58 at the half as Los Angeles 
cooled to seven of 15 from the field 
in the second quarter. Maurice Lu- 
cas bit eight of his 16 points in the 


106, Utah 96; Milwaukee 106, At- ry, scored seven points for the 

lanta 95, and Denver 129, Portland Suns. f OOtDclH 

117. Michael Cage backed Smith and 

On Friday it was Washington Bridgeman with 14 pants for Los I ISFf . St anding s 
122, New Jersey 98; Boston 112, Angles. 

Philadelphia 108; Houston 121, The dippers’ second victory in easterm confe* 
Golden Stale 116; Utah 114, San three days over Phoenix kept them uinninghom s i o 

Antonio 109; the Los Angeles Lak- in the running for a Western Con- ramnaom 420 

era 120, Dallas 115, and Portland ference playoff berth. tSTlSLv 3a! 

125, Seattle 99. The Suns suffered their fourth Jacksonville 240 

The Clippers held off a third- straight Joss and their eighth in Sa1flmorB ' J ’ 


Sumter tana o, Owlsea 2 
Tottenham 0, Aslan Villa 2 
West Bromwich 2, Lelcnter a 
Uvorooot Q. Manrtisster united 1 
Points Standings: Everton 63; Tottenham 
60; Manchester United 59; Arsenal 52; Liver- 
pool. Sheffield Wednesday 51; Nontogham 
Forest. Sautnnamptxm SO; Cltetsea, Asian Vil- 
la 46; Leicester. West Bromwich 42; Norwich. 
Queen's Park Ranaers41; Newcastle 38; West 
Ham 36; Watford. Sunderland. Coventry 34; 
Luton 32; loswlch 27; Stake 17. 

FRENCH FIRST DIVISION 
Soehaux 1, Nancv D 
Laval 1. RC Paris 0 

i Points Slamflngs! Bordeaux 48; Nartlefi 43; 

Auxerre 38; Toulon 37; Monaco. Metz 35: 


MEN'S INDOOR 
(At Milan) 

Quarterfinals 

Tomas Smld (5). Czechoslovakia, dot. vitas 
Gerulaltks (4). Ui. 6-3, 7-6 (7-5). 

Anders Jarrvd (2), Sweden, del. John Sadrt 
(71, U^_ 6-1 6-4. 

Jakob Htasek, Switzerland, dot. Tim Wllkt- 
son. US. 7-6 (7-3). 

John McEnroe 111. US* del. Henri Leconte, 
France. 6-3, 6-4. 

Semifinals 

Jarrvd dot. SmkL 6-i 7-6 (7-81. 

McEnroe del. Htasek. 6-3. 6-2. 

Final 

McEnroe del. Jarrvd, 6-4. 6-1. 


i Exhibition Baseball] 


FRIDAY'S RESULTS 


BrestB- L r W31; Chicago While Sax 5. Houston 


EASTERN CONFERENCE 

W L T Pet, PF PA 
xjm 5 t 0 £33 161 118 


125, Seattle 99. 

The Clippers held off a third- 


m ui iu 

M 169 136 
JDO 123 129 
580 141 156 
J33 141 177 
■300 82 76 


quarto 1 rally that saw Phoenix cut nine games. 


WESTERN CONFERENCE 


an 18-point deficit to six points. An Phoenix coach John MacLeod Houston s a o urn 
11-2 tear gave Los Angaes an 87- said it was difficult to play cau±- 5 s o 25 

69 lead at with 4:25 to play in the up after falling behind in the first 3 2 o 400 

period The Suns came lack behind quarter. “We got behind and then Portland s u mo 

Charles Jones (he had eight points we had to get a good effort and it { * J 

in the quarter) and trailed try 91-87 was just too much. We just can't " 8 

going into the final 12 minutes; seem to get going— we can't seem friday-s result 

That was as close as they were to 10 come out and get the easy has- Tompo ^^uS'SVesults 
come. kets that we at one lime were get- Birmingham 25. Jacksonville IB 

Derek Smith scored 28 points ting." Arizona 31 . now jer MV u 


1JB0 189 105 
OTO 128 124 
MI 135 93 
M 112 109 
400 81 92 
M 118 117 
200 46 119 


^ Ctadrmatl 8, Las Angelos 1 
Sfra*oun>2S; Toulousg, Reu«l24i Tours SO; MlgB , a L N . Y . Mate 2 

RC Paris IB. JUUnnMatg ?, Phllodiiphla 6 

ITALIAN FIRST DIVISION wST 

aamoneie *, Cocno D Boston A Toronto 1 

° Texas 4. Kansas Citv 3 

‘ . N.Y. Yankoes X Montreal 2 

AC Milan 2, AvNIIno 0 Son Dlega 7. San Francisco 6, 10 Innings 

i 7 - cntawo Cu “ 2 

»mpaoria ), vorona i Cleveland 6, Cal I tom to a 10 Innings 

juventtB 1 Torino 0 BOItlmoro II, 5L Louis 0 

Udlmtse 2, Inter I 

Polnrs5taadlags: Verona 36; Juvenilis, To SATURDAY’S RESULTS 

rlna Samsdorta Inter, Milan; NaaaK, Rama Philadelphia 4. Boston 2 
25; FloreMlng 23; Udlnue 27; Alalanta 21: Chicago White Sou 10. PIHsburgn 3 
A vat lino, AxolL Como l fl ; LOzto V4; Cremon- Detroit 4 Cincinnati 0 
eso 11. Houston B. Minnesota 4 


SATURDAY’S RESULTS 


FRIDAY'S RESULT 


Arizona 31. New Jersey 13 


SPANISH FIRST DIVISION 
Barcelona Z GUmi 0 
Valencia a, Sevilla 0 
Real Sodednd 0. Real Madrid 3 
Moloeo 1. Esponol 1 
HwcuIm 2. Vollodolld 1 
Alia tics Madrid B, Athletic Bilbao 0 
Murcia 3. Santander I 
Beils 2. zarogoza 8 
Ounm 2. Elch* 2 


Houston 8. Minnesota 4 

Las Angeles ID. Tarania 0 

Kansas Cltv 6, Baltimore 1 

N.Y. Yankee* 7. Texas 4 

Atlanta a SL Lout* 0 

Seam* 4, Chicago Cubs 3 

Oakland 7, Milwaukee iu) 2 

5an Francisco lu) a. Milwaukee iss) 3 

San Dleoo 4. Cleveland D 

San Francisco [&s; 11. Colllomlo 5 

N.v. Mai* 1 Montreal l 














f ..CiaI ■!■ ‘ 


Se«*r 


INTERNATIONAL HERALD TRIBUNE, MONDAY, APRIL 1, 1985 


A 'Viking’ Discovers Florida 


LANGUAGE 


.*1 - l|, U ‘ 7 '•.■■•■ 


pii* 1 , 


Calling a Drunk a Drunk 


By Sid Moody 

The Associated Pits* 


A board the saga sig- 

LAR — Quite possibly: 

The first European to see North 
America was Bjarai Heijulfsson. 

The first European to land on it 
was Leif Ericsson. 

The first European bom there 
was Snorri Tborfinsson- 
Christopher Columbus, who 
neither landed on nor even saw 
North America proper, showed up 
500 years after ail these Vikings. 

Of course. Viking history as 
told in the sagas can be more than 
a little vague. So the United Stales 
does not celebrate Bjarai Her- 
julfsson Day. But there can be 
little debate that the first Viking 
ship to discover Lewiston, Flori- 
da, not to mention Fort Myers or 
the Caloosahatchee River, was 
called the Saga Siglar, Ragnar 
Thorseth commanding. There are 
photos to prove it. 

Thorseth is a saga in his own 
right He is the first Norwegian to 
reach the North Pole overland. He 
went through the Northwest Pas- 
sage atop Canada in a 20-foot (6- 
meier) outboard pleasure boat As 
a lad. he rowed across the North 
Sea; Prince Philip, who by chance 
was on hand when Thorseth ar- 
rived in the Sbetiands in his row- 
boat said: “You're crazy, man." 
Now Thorseth is sailing Saga Sig- 
lar, a replica of a Viking trading 
ship, around the world. 

Why does Thorseth. who has a 
small farm in Norway, do such 
things instead of milkin g goats? 
Because he wants to, he says. But 



Thorseth makes these visits be- 
cause his circumnavigation must 
float on money as well as the sea. 
Vikings of yore financed some 
voyages by looting, pillaging and 
burning. Thorseth acknowledges 
that hype has replaced mayhem; 
no adventurer nowadays can leave 
home without it 
Thorseth has given more than 
60 television interviews in (he 
United States, answering a dis- 


mayingly identical litany of 
tioos. How does he feel? Fine. 
How big have the waves been? 
Thirty feet. What kind of boat is 
this? Etc. Etc 

This epic wfll cost about SI mil- 
lion. The crew sells Saga Siglar T- 
shirts ($9), Norwegian knives 
(S25) and posters ($5) every time 
they reach land. In Houston they 
sold SI 1,000 worth of T-shirts in 
one day. 

Many Norwegian companies 
have chipped in. including a beer 
company that stashed strategic 
supplies of “product” along the 
way. A German cigarette compa- 
ny is coming out with a tobacco 
product next year called “Adven- 
ture," featuring the Saga Siglar 
predominantly in its advertising. 

Thorseth’s other concessions to 
the 20th century — and some- 
times the 1 9th — are two prefab 
boxes amidships. One holds the 
galley, head, electronic naviga- 
tional devices and several replicas 
of Viking battle axes that he 
shows to school childr en. Vikings 
went for the legs, he tells bug-eyed 
children. A foe who can't run is 


■f 

■r 'SU 






The Aaodttfad Pr«i 

Ragnar Thorseth 


is a reborn Viking itself. At 54 feet 


it is a replica of a Viking merchant 
vessel exhumed from the mud of 


that does not explain the man. 
The crew says Thorseth has a 


The crew says Thorseth has a 
homed Viking helmet; just as 
John F. Kennedy avoided wearing 
funny hats lest he become a cari- 
cature a la Calvin Coolidge in an 
Indian headdress, Thorseth won't 
be caught dead in the helmet 

But see him at (he carved han- 
dle of Saga Siglaris steering oar: 
the eyes blue and steady; die 
beard, with a slight reddish tinge. 
One son is Erik, 11, the name of 
Leif Ericsson's father; the other, 
NjaL 9, named for a saga hero. 
And Ragnar was the name of the 
first Viking to plunder Paris. 

Down deep, this chain-smoking 
Ragnar Thorseth is a reborn Vi- 
king, a reamer, a darer, a throw- 
back in a fisherman's sweater to a 
high-seas people who gave their 
name to an age. 


vessel exhumed from the mud of 
Roskilde Fjord in Denmark in 
1963. It is a knurr, a utilitarian 
cousin of the Vikings' longboats, 
their warships, perhaps the most 
graceful vessels ever built. Thor- 
seth had the replica built in Nor- 
way. It cost $200,000. 

He wanted to Learn how it 
sailed. He wanted to recreate his- 
tory. He wanted to prove a knorr 
could saD around the world even if 
one never bad. 

He set sail last June from Nor- 
way and followed the old Viking 
route westward via the Faeroe Is- 
lands, Iceland, Greenland and 
Newfoundland, where a Norse 
settlement from AD. 1000 has 
been excavated. En route he sur- 
vived hurricane-force winds, with 
Eirik. lashed to his waist Thorseth 
finds this less arduous than weath- 
ering the greetings tendered him 
by Sons ofNorway dub members 
who turned out to meet him in 
such ports of call as Boston, New 
York, Detroit Chicago, St Louis, 
New Orleans. Houston and Tam- 
pa. 


yours. 

The other box is for Thorseth, 
his wife, Kari, the two boys and 
the crew — up to five or six at any 
one time — to sleep in. It was 
patterned after the cans Norwe- 
gians pack sardines in. Each crew- 
man’s bunk has headro om of 
about a cubit the distance from 
the elbow to the first knuckle. A 


skraelling, the Viking term for a 
native North American, is a tem- 
porary inhabitant of a ten bunk. 

The skraelling takes his first 
turn at the steering oar as the Saga 
Siglar, rather faster than but as 
steady as an iceberg, sails out of 
St Petersburg into the Gulf of 
Mexico. The wind is chilling. 
Thorseth, lighting yet another 
Marlboro in the teeth of the 
“norther,” remains a perfect por- 
trait of Viking composure. 

He was bora 37 years ago. His 


father was a farmer-shipwright. 
Thorseth first put to sea as a tot 
when the cows were rowed out to 
an island for summer pasturage. 
At 6 or 7 an uncle gave him a copy 
of Snorri Sturluson's 13th-century 
saga, “The History of the Kings of 
Norway." “1 had dreams just like 
any other boy. Dreams of Vi- 
kings." 

It is not easy to isolate what 
makes one man head for the 
North Pole and another run for 
the 5:27 train home. “Rowing 
across the North Sea proved to me 
1 could be on my own. I could 
make reality of my dreams. Doing 
these things is more to please my- 
self than other people. 

Thorseth’s trip to the North 
Pole, which he reached in 1982, 
tested his leadership as well as his 
mettle. An expedition member 
whose determination was not as 
strong as Tborseth's had weak- 
ened the resolve of the Eskimo 
grade with whom he shared a tent. 
Mutiny threatened. Thorseth 
brought back the guide’s courage 
by patiently arguing that his gods 
would not be pleased with any 
sign of cowardice. 

Thorseth took a year of journal- 
ism in college, then became a 
newspaperman. “By 1975 it was 
becoming boring. I planned a trip 
across the Atlantic via Greenland 
in a small fishing boat 1 talked it 
over with Kari. She said, *Do it.’ 

“When 1 got to Greenland. 1 
started putting myself in the posi- 
tion of the old Vikings. Then 1 
started putting myself in their 
boats." 

Thorseth began thinking of 
building a replica of the hum, 
nowin a museum in RoskOde. He 
made a deal with a museum: He 
would donate the replica if he 
could sail it around the world 
first Once people could see the 
boat and see that Thorseth was 
gin' mi c money began imming m 

At Fort Myers, the Saga Siglar 
toms inland up the Caloosahatch- 
ee River toward Lake Okeecho- 
bee. Tborseth’s daim that his is 
the first Viking ship to discover 
Florida seems substantiated by 
the natives. They don’t know what 
to make of the Saga Siglar. 

As the knarr, its single square 
sail bellied to the wind, makes its 
way past palm-shaded retirement 
settlements, people run to the riv- 
erbank to pant and scratch their 
heads. A youth in a motorboat as 


By William Safire 


W ASHINGTON — The eu- 
phemism used to be inebriated 


campaign by MADD, Mothers 
Against Drunk Drivers. Curiously, 
now that their use of the word as a 
kind of. nrepunishmem is being 
widely adopted in more formal 
speech, MADD has second 
thoughts. Anne Seymour, a 
MADD media contact, says: "in 
spite of drunk's being in our organi- 
zation's name, we are moving away 
from using either drunk or alcoholic 
in our vocabulary. The word we are 
using now is impaired. That’s be- 
cause we are equally concerned 
with elimin ating driving by some- 
one who may not be drunk, but is 
under the influence of other 
drugs." 




■■ M 






VV phemism used to be inebriated 
or intoxicated. Ladies and gentle- 
men who drank too much were said 
to be tipsy or high: those more seri- 
ously concerned about others ha- 
bituated to the overuse of alcohol 
called them alcoholics. 

Not so much anymore. In a salu- 
tary reaction against the use of eu- 
phemism, the word now used with- 
out self -consciousness or fear of 
condemnation is the noun (bat is 
also the past participle of drink: 
“Not bang a drunk is the only way 
I’m going to stay alive,'.’ Elizabeth 
Taylor told a reporter last month. 
“Drunk is a hard word, but I've had 




kjjWS" „ _. ,v ■ 


1 V_'~- 




to be bard with myself to face it. A 
drunk is a drunk. There’s no polite 
way of saying it.’’ 

After two months in a rehabilita- 
tion center, Taylor felt the need to 
use the blunt word to demonstrate 
her willingness to face the conse- 


A1 though MADD is seeking to 
extend strictures against those driv- 


ing while hopped up or spaced out 
as well as drunk, the organization 


at L 5 -r.if 


qucaces of compulsive drinking. 
The shock in the word is treated as 
an awakener to be valued rather 
than an insult to be avoided. 

“We use alcoholics in our group’s 
name," says a spokesman for Alco- 
holics Anonymous, “but one of our 
co-founders very often would use 
drunks in meetings. He always re- 
ferred to hims elf as a drunk even 
though he had not gotten drank for 
a long while.” 




fri*. ' &"■ J 




as well as drunk, the organization 
has dm yet reached the point of 
dropping drunk from its name. The- 
titie is being changed slightly, bnt 
not in a way that affects the acro- 
nym: from Mothers Against Drunk 
Driven to Mothers Against Drunk 
Driving. Apparently it wants to in- 
veigh against the activity rather 
than the practitioners. 


gKffif: 




Sfe* 35 *.-. “* 

ArissT*- 

tfV'jf.: ;■ 




Tliorsetb’s Saga Siglar, replica of a Varittg trading ship. 


garish as a burlesque-house mar- 
quee roars up and points to the 
Norwegian flag: “You all from 
Bermuda?" he asks. At Clewiston 
a bass fisherman shakes his bead: 
“That boat homemade?" 

The Saga Siglar readies Jensen 
Beach where Ralph Evinrude — 
son of Ole Evinrode. the Norwe- 
gian -American inventor of the 
outboard — has a yacht and his 
wife; the former actress Frances 
Langford, owns a hotel and cot- 
tages. 

John Gryska, a 21-year-old 
crewman from Cha tham, Massa- 
chusetts, starts hawking T-shirts 
and explains for about the 
10,000th time: “This is a replica of 
a 1,000-year-old Viking mer chan t 
ship called a knarr. 

“No. if we’re in the middle of 
the ocean we don't anchor at 
night, we keep sailing. 

“We take turns cooking. 

“We have a 22-horse diesel en- 


ine. No, the Vikings didn’t have 


ly drunk is the stronger word," says 
the spokesman, “though not quite 


Ralph Evinrude decides to give 
some money if it can be tax de- 
ductible. Thorseth repairs to the 
bar of Langford’s hotel to catch 

up nn smoking and drinking hrqn- 

dy with coffee on the side. Con- 
versation turns philosophical 
“What should a man do?” 
Thorseth asks. “What he can do, 
so long as he doesn't hint others. 
Too many people don’t live out 
their dreams. Fm fulfifimg mine 
I’ve had the best of both worlds. 

“Maybe this wQl be ray last 
such expedition. I'm too old to 
begin climbing mountains Jun- 
gles don't interest me. I may want 
to take up something, if you can 
believe it, that's in the outdoors in 
the compan y of friends «nd re- 
quires skill and concentration." 

“And what might that be, Rag- 
nar?" the skraelling asks. 

“Golf.” 


the spokesman, “though not quite 
as strong as hah or souse. Alcoholic 
has more of a clinical tone, more 
specific than drunk We think of 
alcoholism as a disease, so far in- 
curable: I haven't had a drink in IS 
years, but I am still an alcoholic." 

The word drunk has not yet 
made it to New York State legal 
statutes; according to John O'Con- 
nor, a lawyer, lawmakers still pre- 
fer intoxicated or under the influence 
of alcohol Blade’s Law Dictionary, 
1968 edition, finds drunk and in- 
toxicated to be synonymous, defin- 
ing a person who is drankpartly as 
bong “so far under the influence of 
liquor that his passions are viably 
excited or his judgment impaired." 
A drunkard is defined as one 
“whose ebriety has become habit- 
ual," and Black’s properly finds 
“habitual drunkard'* redundant 

The new popularity of the harsh 
wend — used almost as if a dyspbe- 
tnism was bring sought — can be 
partly attributed to the effective 


Inwaired probably will not get 
off the ground as a substitute for 
“influenced by drugs, including al- 
cohol" Impaired may be used in 
iaw to describe drank or bopped- 
up driving, but in the general lan- 
guage impaired is being used widely 
to modify or more accurately de- 
scribe what used to be called blind 
or deaf. People who are not wholly 
blind or deaf are called sight-im- 
paired or hearing-impaired, and if it 
helps than get jobs or fed better, 
anti-eupbemists should not lake of- 
fense. In other contexts, impaired is 
used as a euphemism for retarded, 
itself a euphemism now losing its 
gentle connotation. Because im- 
paired is a kind vogue word, it is 
unlikely to be widely applied to an 
activity to be condemned 


Space Pr-oj 


-j r 

igL 


fit jwrrfi " 

i*G*- hr , L \ . 

0r Ti ‘- i \\ A 

jeoi-'r 1 ' 0 ; 

■ju i biUjli'-i- <- 


I think that's good: Drunk is a 
word that has more jocular sUng 
synonyms than almost any other, 
from blotto to pickled to pifflicated 
to three sheets to the wind out is less 
than ever a laughing matter or one 
to be soothed by kind words. The 
emergence of drunk into formal 
discourse signifies the wide public 
recognition of a problem; 1 suggest 
Mothers Against Drunk and/or 
Dragged Driving (MADDD). 


New York Times Service 


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