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Full text of "International Herald Tribune , 1985, France, English"

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PARIS, FRIDAY, APRIL 19, 1985 


ESTABLISHED 1887 


Botha SaysNamibia 
To Get Interim Rule 


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By Richard Bonsrein 

Vn fort 1 Tntta Sorvjv* 

CAPE TOWN — South Africa 
announced Thursday that « would 

restore a measure of seif-goverr.- 
incni to South-West Africa pend- 
ing international arratgemeius to 
give full independence to the terri- 
tory. ' 

The plan otdudcs participation 
"#by guerrillas of the South-West Af- 
' nca People’s Organization, or 
SWAPO. which the United Na- 
tions says must play a role in any 
political” settlement for the lemto- 
rv 

President Pieter W. Botha, in a 
speech to Parliament, said that the 
move was necessitated by the pro- 
longed delay in carrying out a UN 
plan for independence in South- 
West African, which b also known 
as Namibia. 

Mr. Botha said that executive 
and legislative functions would be 


urged South Africa not to deviate 

from the UN independence plan. 

[The Reagan administration said 
Thursday tut South Africa's plan 
would not affect the UN effort to 
gain independence for the territory. 
Reuters reported from Washing- 
ton. 

\A State Department spokesman 
said that the U.S. government 
“would consider any steps taken 
outside of that to have no standing 
and no effect on the international 
negotiation process cm indepen- 
dence** for the territory.) 

- Namibia, a former Goman colo- 
ny that has been administered by 
South Africa since 1920, was, by 
the terms of an agreement among 
five Western countries, to have 
been granted independence in 
1978. The agreement provided for 
United Nations- supervised elec- 
tions in which all parties could par- 
ticipate, including the Marxist 


recently started^? 

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wmed over to Namibia's Multipar- SWAPO guerrilla group. 

Conference, 3 diverse group erf South Africa, however, has re* 
parlies in. the territory that last fused to allow the independence 
month formally ri*nwifwf«l that plan to be put into effect on the 


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they be allowed to form a transi- 
tional government until indepen- 
dence is uchieved- 
Western countries, including the 
United Slates and Britain, have 


condition imu the estimated 30,000 
Cuban troops based in neighboring 
Angola first be withdrawn. 

Iq his speech, Mr Botha reiienu- 
(CoatimMd on Page 2, CoL 1) 


Ted Turner Makes Bid 
To Buy Control of CBS 


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The A Koctiiitd Piets 

WASHINGTON —Ted Turner. 
Foni-iinp s- ' die principal owner of the Turner 

nc^ 1 ^ -n^ 011 ^ ^®ic: 1 Broadcasting System, made a for- 
mal offer Tnursdav to buv contra! 
of CBS, Inc. 

Mr. Turner informed the Federal 
Communications Commission of 
his bid to gain control of the com- 
pany that owns television and radio 
networks as well as recording and 
publishing outlets. He also sought 
U.S. government approval for the 
takeover. 

Papers filed by Mr. Turner’s at- 
torney said CBS stockholders 
would be offered stocks, notes and 
other securities in his Turner 
Broadcasting System worth S2.98 
billion for the 21 miHkm shares in 
CBS that Mr. Turner hopes to ac* 



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An announcement reqd.m Mr. 
Turner’s Cable News Networkand 
attributed l ohim said his offer was 
conditional on acquiring 67 per- 
cent of all CBS stock. 

He also told the Federal Com- 
munications Commission, which 
regulates the broadcast media, that 
he intended to issue $5.4 billion in 
new stock, notes and debentures 
Lhat could be excha n ged for CBS 
stock. 

The announcement on CNN, a 
television network that broadcasts 
news 24 hours a day, said the fufl 
we c=i mw value for the securities offered in 

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Bonn May 
Join f Star 
Wars’ 

Chancellor Says 
Soviet Already 
Has Space Arms 

By William Drozdiak 

Wiuhihgrart Pom Seme 

BONN — Chancellor Helmut 
Kohl declared his full support 
Thursday for the research stage of 
President Ronald Reagan's Strate- 
gic Defense Initiative. He an- 
nounced that Bonn would soon 
open talks with Washington to dis- 
cuss West German participation in 
the project. 

In Bonn's strongest endorsement 
yet of the space defense plan, popu- 
larly known as star wars, Mr. Kohl 
told the Bundestag; "The Ameri- 
can research program is, in our 
view, justified, politically necessary 
and in the security interests of the 
West as a whole. 

He insisted that West Germany 
must be granted a “fair partnership 
and guaranteed free exchange" of 
all research findings. He reiterated 
his backing for a joint approach by 
Western Europe to participation in 
space weapons research in order to 
maximize European influence over 
VS. decisions on development and 
strategy. 

Mr /Kohl's speech to Parliament 
was designed to set forth a coherent 
government policy on the space re- 
search program, which has evoked 
mixed feelings in Western Europe. 

Some of the European allies have 
expressed eagerness to share in the 
fruits of the five-year, 526-billion 
program but remain troubled by 
the king-term implications for 
Western deterrent strategy and by 
the possibility of an arms race in 
space. 

Western diplomats said the fa- 
vorable tone struck in the speech 
may have been intended to ward 
off a potential U.S.-European dash 
over the program at the annual sev- 
en-nation economic summit con- 
ference in Bonn from May 2 to 4. 

Mr. Kohl said that he would dis- 
cuss space defease research with 
Mr. Ragan, who will prolong his 
stay in West Germany . until May 6 
the chairman of CBS, said Thors- to pay a stare visit, but it is still 
day ax a ssockhrfders' matting .in . uncertain whether the participants 
Chicago that any attempt to com- at fbe economic summit conference 

" fr *- *- =- will agree on ajoint declaration on 

space arms. 

West Germany's decision to sup- 
port the space research, Mr. KonI 
said, was primarily motivated by 
the fact that Moscow has been 
making “immense efforts" to de- 
velop space and anti-missile de- 
fense systems for more than u de- 
cade. 

Speaking to an audience that in- 
cluded a delegation from Moscow 
led by a Communist Party Central 
(Continued on Page 2, CoL 3) 



U.S. Growth in Quarter 
Was Slowest Since ’82 


Da AivxoHd rm\ 

Chancellor Helmut Kohl, right, and Foreign Minister 
Hans-Dietrich Genscher conferred Thursday during a 
Bundestag debate on the U.S. Strategic Defense Initiative. 

NASA Called Blameless , 
Yet Tarnished by Failure 


exchange for the CBS stock would 
amount to S 175 per CBS share. No 
cash wMtfd be pud CBS stockhold- 
ers. 

CBS stock fell $3,625 a share to 
5106.125 in trading Thursday on 
the New York Stock Exchange. 

Turner Broadcasting System's 
common stock closed at 524 in 
over-the-counter trading Wednes- 
day, unchanged from die previous 
session. It was not trading early 
Thursday. 

CBS Inc. is a communications 
and entertainment giant that 
dwarfs the company owned by Mr. 
Turner. 

. Mr. Turner's fifing with the FCC 
acknowledged that CBS 
the takeover.Nd Thomas 



promise the “independence and in- 
tegrity” of CBS News would be 
fought. 

In a pre-emptive move to protect 
his takeover tod. Turner launched a 
federal court suit against the net- 
work and the New York state attor- 
ney general. 

For years Mr. Turner has said 
dux he wants to take over a major 
TV network, particularly CBS, be- 
cause be strongly disapproved of 

(Continued on Page 2, CoL 4) 


By Richard D.‘ Lyons 

.Vttr >i«( Time* S«rwi ,• 

NEW YORK — The failure to 
put the Syncum communications 
satellite into operation was another 
costly setback for the commercial- 
ization of space and raises more 
questions about the shuttle's ability 
to operate as a relatively law-cost 
delivery system. 

The National Aeronautics and 
Space Administration originally 
used expectations of high perfor- 
mance and low cost as a selling 
point for the multibillion-dallar 
shuttle project. But James Barrett, 
president of the Washington-based 
International Technology Under- 
writers, said the fault was not that 
or the space agency, “even though 
it is being tarred by the brush of 
failure of the components." 

“The space shuttle and the astro- 
nauts have performed perfectly, 
even in the Jaihire to place three 
satellites in operation in orbit," 
said Mr. Barrett, whose company is 
a mspor insurer of satellites and 
carnal 30 percent of Wednesday's 
loss. "If there is any blame it is with 
the contractors ana subcontractors 
of the various spacecraft." 

The Syncom satellite, manufac- 
tured by' Hughes Communications 
Inc., was insured for S85 million. 

In a Challenger flight one year 
ago, two communications satellites. 
Westar 6 and Palapa B-2, were de- 




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'■ Impulse to Please Kohl Backfires on Reagan 

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Bv Bernard Weinraub At the session, Mr. Kohl bluntly 
■ Nete York Time* Service stressed the importance that West 
. WASHINGTON - An appar- Germans attached to the 40th i anni- 

FROM SIW entlv impulsive decisoo by Praa- vtt3 ^ r > of the «d of World War II 
ZtMMimr dent Ronald Reagan to gram a w Europe on May 8. and urged Mr. 
■w favor to a fellow chief of govern- J*“gan w 1 wot a mhiary cemetoy 
cp * , ?P in8, ^?iLU ment has drawn him into one of the *J 3r Amencan and German war 

dead as a symbol of reconciliation. 
Mr. Reagan, who is known to be 


bers of the Waffen SS, the military 
arm of the Nazi elite guard, and the 
planned visit was transformed into 


The council, which includes 55 
members appoint cd by the presi- 
dent. is preparing to consider a 
\ that calls 


convert*"' 


Miff Bit most embarrassing and politically 

'i - <r 1 s>l ^ damaging episodes of his four years Mr - Keagan, wno is Known to « 
! w in thett'hite House. - personally Tond of Mr. Kohl 

i The episode, which threatens a B rect f- 

* both Mr. Reagan’s carefully nur- 

10YIASS lured relations with the American 
orf^rcai Jewish community and his reputa- 
** tion as a consummate master of 

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jC «w i*»2f five months ago when Mr. Reagan 
3M ^ SrV‘ welcomed Chancellor Helmut 
rot-"? Kohl of West Germany to the Oval 

TUs ^ i)ffice for a lengthy meeting that 
— ic&T* ^included a discussion of Mr. Rea- 
^ ^ gan’s trip to Bonn in May. 




Within 24 hours, West German 
and U.S. officials Learned that no 
Americans were buried in any mili- 
tary cemetery in Germany. But, by 
all accounts, the meeting with Mr. 
Kohl provided the momentum for 
the decision to have Mr. Reagan 
visit a West German military ceme- 
tery at Bit burg near the Luxem- 
bourg border. It turned out that the 
cemetery contained graves of mem- 


one of the most politically damag- resolution that calls for the rerigna- 
ing episodes of Mr. Reagan's prest- lion of all its members unless the 

- visit is canceled. 

[President Reagan, defending his 
planned visit to the military ceme- 
tery, said Thursday that the sol- 
diers buring there were victims of 
Nazism “just as surely as the vic- 
tims of the concentration camps," 
The Associated Press reported 
from Washington. 

{Canceling the cemetery visit 
would "leave me looking as til had 
caved in in the face of some unfa- 
vorable attention," Mr. Reagan 
said. "I think that there’s nothing 
wrong with visiting that cemetery 
where those young men are victims 

(Cootmned on Page 3, Col. 4) 


Israelis honored Holocaust vic- 
tims; Germans protested SS 
veteran meetings. Page 5. 

dency. The episode has angered 
Jewish and veterans' groups and 
left White House officials blaming 
one another as well as Mr. Kohl for 
seeking a cemetery visit in the first 
place. 

The Senate, meanwhile, has sent 
a Inter to Mr. Reagan “strongly 
urging" him to cancel the visit The 
Senate action Wednesday paral- 
leled a similar request from the 
U.S. Holocaust Memorial Council. 


ployed but their rocket engines 
misfired and they did not enter the 
proper orbits. The satellites were 
recovered lost November by the 
crew of the shuttle Discovery , but 
they were declared to be SISti mil- 
lion lasses. 

By contrast, the shuttle's major 
competitor, the unmanned Ariane 
rocket booster developed by the 
European Space Agency , a consor- 
tium of companies from 1 1 coun- 
tries, has had one major failure of 
an insured satellite, toe 522 million 
loss of Marccs B in 1982. 

Up until this week’s shuttle 
flight, the two competitors had 
each launched five or the 10 com- 
mercial satellites orbited in the last 
14 months. 

Mr. Barrett said the two compet- 
ing systems “now have little or no 
difference in their insurance rates, 
but that could ch.-nge depending - 
on how they perform for the rest of 
the year." 

NASA and Arianes'pace, the 
subsidiary using the Ariane boost- 
er, have "been running neck and 
neck in their efforts to win new 
customers for their systems. 

Arianespace has announced that 
it has firm orders for the launching 
of 28 satellites, some of them U.S.- 
owned, 3s well as options for 14 
more. 

Mr. Barrett said that because the 
satellite insurers have a pool of 
$150 million in premiums this year, 
the effect of Wednesday's loss 
probably will be minimal for imme- 
diate insurance rates. 

Liability commonly is placed on 
either the'builder of the spacecraft 
or the subcontractor that produced 
the key component that might have 
been responsible for the failure, if a 
final determination is ever made, 
Mr. Barrett noted. 

■ Gam Experienced Nausea 

Senator Jake Garn admitted 
Thursday in a space-io- Earth news 
conference that he felt nauseated 
during his first two days in space, 
but said he wished lire shuttle's 
scheduled return Friday could be 
delayed, United Press Internation- 
al reported earlier from Houston. 

The 52-year-old Utah Republi- 
can joined the mission as a congres- 
sional observer and volunteered to 
be a subject for medical experi- 
ments on space motion sickness. 

(Continued on Page 2, CoL 6) 


The Aaomiieti Prest 

WASHINGTON — The U.S. 
economy grew at an annual rate of 
1.3 percent m the first three months 
of the year, the government said 
Thursday. The expansion, even 
more sluggish than first thought, 
was the slowest in more than two 
years. 

The Commerce Department’s 
new estimate of growth so far this 
year compared with an initial pro- 
jection of 2.1 percent made a 
month ago, before the first quarter 
bad ended. 

Not since the last three months 
of 1982. when the economy was 
beginning to recover from the 
1981-82 recession, has the gross na- 
tional product, the broadest mea- 
sure of economic health, grown so 
slowly. GNP measures the total 
value of a nation's goods and ser- 
vices. including income from for- 
eign investments. 

The commerce secretary, Mal- 
colm Baldrige, conceded that “we 
did have a weaker economy in the 
first quarter." He said, however, 
that the administration's goal of 
3 .9- percent growth for the year, 
while now "more difficult" to 
achieve, was still possible if Con- 
gress acted promptly on tire admin- 
istration’s plan for reducing tire 
federal budget deficit 

At the White House. Larry 
Speakes, a press spokesman, said 
the latest figures were "clearly be- 
low what we had hoped for," but he 
said the administration remained 
convinced that the U.S. economy 
was on a course of steady growth. 

When the initial first quarter 
forecast, known as the “flash esti- 
mate.*’ was made, many econo- 
mists said the government was 
overstating the weakness in the 
economy and predicted that tire 
growth calculation would be re- 
vised upward, possibly to 4 per- 
cent. 

Since then, however, several oth- 


BoUar.Stnmps 

OrbC^PJkua 

• 

Compiled to Our Staff From DupauJia 

NEW YORK — The dollar 
slid sharply Thursday after the 
U.S. government reported the 
slowest economic growth in 
more than two years, but later it 
stabilized somewhat. 

Dealers said they saw little to 
support the currency in the near 
future, and the outlook was fur- 
ther depressed by a signal of 
lower interest rates. 

Commerce Secretary Mal- 
colm Baldrige said the steep- 
ness of the dollar's recent fall 
“could be dangerous" to the 
U.S. economy in terms of high- 
er interest rates and inflation. 

The British pound strength- 
ened to SI-2975 from S1.271S 
Wednesday. Other late dollar 
rates Thursday in New York, 
compared with Wednesday, in- 
cluded: 2.963 Deutsche marks, 
3.047; 9.0550 French francs, 
9.2.90; 1460 Swiss francs, 2530, 
and 247.10 Japanese yen, 
249.95. (A?. UPI) 


er sets of figures have indicated the 
economy had performed sluggishly 
in the first quarter. 

The 1. 3-pcrcent growth pace 
compared with a 4. 3- percent rate 
during the final three months of 
1984 and was the smallest since the energy products in 
0.5-percent annual rate registered months of the year, 
for the last quarter of 1982. 

For all of last year, the GNP Hood or imports siphoned sales 
grew 6.S percent, tire best perfor- from domestic manufacturers, 
mance in more than three decades. Imports increased at on annual 
The Reagan administration is rate of 26.1 percent in the first 
predicting that growth this year quarter while expons were falling 
will reach 3.9 percent But given the at an annual rate of 8.2 percent. 


weak start, many private econo- 
mists forecast that the United 
States will do wdl to achieve a 
growth rate of between 3 percent 
and 3.5 percent. 

The government also reported 
Thursday that U.S. corporate prof- 
its were weaker in the fourth quar- 
ter of last year than originally 
thought. The Commerce Depart- 
ment said that after-tax corporate 
profits fell 05 percent in the final 
three months of the year. That 
compared with an earlier estimate 
that after-tax profits had rUen 0.4 
percent in the fourth quarter. 

Some economists are predicting 
that the slow« growth will result ir. 
rising unemployment and a so- 
called growth recession. A growth 
recession occurs when an economy 
is expanding at such a slow pace 
that it is cot creating enough new 
jobs to lake core of a growing labor 
force. 

For the Reagan administration, 
slower growth could also translate 
into budget deficits larger than the 
record S213.3 billion already ex- 
pected in the current fiscal year. 

The Commerce Depart n rent re- 
port showed that inflation also 
picked up in the first three months 
of the year. A GNP price index that 
takes into account the changes in 
the types of goods being purchased 
rose at an annual rate of 5.3 percen: 
in the first quarter, almost double 
the 2.8-percect pace during the fi- 
nal three months of 19S4. 

However, government analysts 
said this index overstated the pace 
of inflation because it was distorted 
by a large increase in purchases of 
the first three 

year. 

The GNP report showed that a 



The AoacKWd Pien 


RECORD PRICE FOR PAINTING — Tim Bathurst of the Artemis Gallery in 
London stood beside Andreas Mantegna's “Adoration of the MagT after purchasing it 
Thursday for tHe Getty Museum of Malibu, California. The Renaissance work sold for 
£8.1 millioii, or S103 million, setting a world record for the sale of a painting. 


In Moscow, a 2-Day Gorbachev Tour 


By Serge Schmernann 

AVw York Times Service 

MOSCOW —Taking a leaf from 
Yuri V. Andropov's book, Mikhail 
S. Gorbachev went to the people 
this week, touring a factory, a hos- 
pital. a school and even popping 
into a private home. 

A visit Wednesday to one of the 
main industrial areas of Moscow 
was not announced in advance, and 
the evening television news pro- 
gram showed only a series of still 
photographs of Mr. Gorbachev. 

The photographs, however, gave 
the impression of an animated and 
unrehearsed visit. They showed 
Mr. Gorbachev gesticulating while 


chatting with workers as well as 
smiling, listening and examining. 

In one photograph, Mr. Gorba- 
chev was shown drinking tea in a 
private apartment with a young 
couple identified by the Tass press 
agency as Vyacheslav and Tamara 
Nflrishin. In the photo, they appear 
somewhat taken aback, but Tass 
said that “they showed him their 
fiat, related how they live and work 
and shared plans for the future." 

In the Tass account of the tour, 
which the agency said took place 
Tuesday and Wednesday, Mr. Gor- 
bachev raised the central themes of 
his young administration — 
stepped-up production, labor disci- 


pline, and more initiative and in- 
centives. 

Although the visit reflected Mr. 
Gorbachev's efforts to introduce a 
new, less-rigid style of government 
to the Kremlin, it also underscored 
his intent to pick up the productivi- 
ty campaign where Andropov, who 
died in February 1984. left off. 

Within three months of taking 
power in November 1982. Andro- 
pov had taken his message directly 
to the floor of a Moscow factory. 
But he already was ailing by then, 
and neither photographs nor film 
of the visit were shown. 

Andropov’s successor. Konsian- 

(Continued on Page 2, Col. 4) 





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INSIDE 

■ U.S. Democrats are drafting 

R ians for humanitarian aid to 
licaragua. Page 3- 

■ Ezer Weizmao is confident oT 
a meeting between Israeli and 
Egyptian leaders. Page 5. 

■ Rashid Karami reportedly 
was pressed by Syria to with- 
draw his resignation as Leba- 
nese prime minister. Page 5. 

WEEKEND 

Street food, a durable Singa- 
I pore tradition, fives on in up- 
- dated surroundings. Page 9. 

BUSINESS/FINANCE 

■ West Germany's central bank 
said strong foreign demand 
may help secure economic re- 
covery. Page 1L 

■ The French government ap- 
proved a limited share listing 
fora state-run company’s affili- 
ate. Pail* JL 

tomorrow 

'iThc United Stales is back to a 
“position of .strength in Asia, ao 


1 voUf cording in policy analysis- The 

1 JuT question is. is titis because or 

■ 1** despite the war in Vietnam? 

j rep 1 *-' 



Northern Ireland: Is Shoot to Kill the Rule? 


Unfed Frau ban nn te Mfll 

A masked honor guard of IRA members 
marched in escort during the funeral procession 
for Colm McCirr, killed in 1983. Douglas Hurd, 
left, the British secretary of state for Northern 
Ireland, has denied assertions that security 
forces operate -under a policy of shoot to kQL 


By Jo Thomas 

AVk York Times Seme 

BELFAST — One winter Sunday, three 
young men stopped their car on a hilly country 
lane in Northern Ireland. Two got out of the car 
and, os they walked toward a secluded and 
overgrown field, were shot dead. 

They were members of the Provisional Irish 
Republican Army, shot by a British Army un- 
dercover unit near Coalhuand, about 30 miles 
(50 kilometers) southwest or BeirasL Their rela- 
tives say they were unarmed; police say they 
were shot as they walked toward hidden weap- 
ons that had been used in 22 shootings, includ- 
ing the killing of four army security force mem- 
bers. 

The incident, which occurred in 1983, is one 
of at least 34 disputed shootings by the North- 
ern Ireland police and British Army security 
forces in the last two 3nd a half years. According 
to police statements or court testimony, at least 
18 of those killed were not armed; of those who 
were carrying weapons, questions have been 
raised over whether they first were given a 
chance to surrender. 

The shootings have fueled a debate among 
politicians of all parties, churchmen, the British 
authorities, the relatives and friends of those 
shot and supporters and opponents of the IRA 
over whether the security forces in Northern 
Ireland are using "shoot to kill" tactics against 
suspected guerrillas. 

In the growing debate in Britain and Ireland, 


the term has come to mean a policy in which 
security forces, when faced with a potentially 
dangerous suspect, shoot to kQl instead of trying 
to wound or capture. IRA gunmen have Seen 
shooting to kiB tor years. 

The use of “shoot-to-kiU" tactics is strongly 
denied by Douglas Hurd, the British secretary 

Hurd said: 'It’s crucial that a 
security force be seen to 
operate under the rule of law’. 

of state for Northern Ireland, who said recently 
that assertions that the security forces use tins 
policy were “nonsense." 

At' issue is the question of how Britain, a 


and Republican terrorists. There is no shooi-to- 
kill policy on the part of the security forces." 

An investigation by The New York Times 
into some of the cases, including interviews with 
witnesses who had not been questioned before, 
raises questions about Lbe circumstances in 
which some of these shootings occurred. Dozens 
of interviews, as well as court testimony, indi- 
cate that in a number of cases the dead had little 
or no chance to surrender before ibex- were shot. 

Those killed included 15 members of the IRA 
and three members of the Irish National Libera- 
tion Army, a smaller group that also seeks 
independence from Britain through armed 
struggle. Also killed were 16 civilians, including 
four shot while driving stolen cars, and four 
involved in robberies. 

Virtually ail of those involved in these shoot- 
ings in an official capacity, including police 


society that often has been held up as a model of m S* m 311 ometaj capacity, including ponce 
public civility and humane standards, responds spokesmen, said they could not answer que>- 
io violent opposition from IRA guerrillas. A l,ons hec3UM ,he as « were 51,11 under mwsi, ‘ 


It opposi 

recent editorial in The Guardian newspaper said 
the British role in Northern Ireland was "de- 
pressing and demor al iz ing ." 

In a recent interview in New York, Mr. Hurd 
said: “It’s absolutely crucial that a security force 
operate and be seen to operate under the rule of 
law. That's what distinguishes it from an army 
of occupation." 

William McGookin. the spokesman for the 
Royal Ulster Constabulary, said in a recent 
interview: “There is a shoot-to-kill policy in 
Northern Ireland and it is operated by Loyalist 


tions because the cases were still under investi- 
gation. 

Since October 1982, 100 members of the secu- 
rity forces have been killed in Northern Ireland, 
Three soldiers and 13 policemen haie been 
killed this yean nine policemen died in an IRA 
mortar attack in Newry on Feb. 2S. The vast 
majority of security force deaths occur when 
policemen and soldiers are off-duty or on their 
way to work. 

After two IRA men were killed by’ army 
undercover units four months ago in Londori- 
(Continued on Page 2, CoL 6) 


pari* V- 






Page 2 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, APRIL 19, 1985 


Botha Says Namibia 
To Get Interim Rule 


(Continued from Page l) 

ed chat independence would come 
with a Cuban withdrawal 
“The people of South-West Afri- 
ca, including SWAPO, cannot wait 
indefinitely for a breakthrough on 
the withdrawal of the Cubans from 
Angola," he said. 


pains 

give assurances that the plans for 
an interim government would not 
obstruct an eventual carrying out 
of the independence agreement 
However, the move was limy to be 
seen by some, including SWAPO, 
as an effort to sidestep the UN plan 
by giving authority on the ground 
to the local parties. 

Thursday’s announcement fol- 
lowed by only three days a declara- 
tion that South Africa would pull 
out the remaining forces it has in 
Angola, where they have been 
fighting SWAPO guerrillas. That 
move seemed designed in part to 
encourage a corresponding Cuban 
withdrawal from the area. 


■ UN Expresses Concern 

The UN secretary-general, Javier 
P6rez de Cuellar is concerned 
about South Africa's plans for an 
interim government in Namibia 
and is setting up talks with South 
Africa's representative, a UN 
spokesman said Thursday, Reuters 
reported from the United Nations 
in New York. 

From Havana, meanwhile, Cuba 
welcomed South Africa's military 
withdrawal from southern Angola 
but said the pull oat would not af- 
fect the future of about 25,000 Cu- 
ban troops stationed in the coun- 
try. 


Kohl Backs 
Reagan on 
Space Arms 
Research Plan 


5 Blacks Killed, 
White Set Afire 
In South Africa 


Nakasone Sets Up 
Panel to Oversee 
Widening Markets 


United Press International 

TOKYO — Prime Minister Ya- 
suhiro Nakasone is setting up and 
will head a committee charged with 
overseeing the widening of Japa- 
nese mark ets to foreign imports, 
government sources said Thursday. 

The sources said the group 
would include all cabinet ministers 
and five executive officers of the 
Liberal Democratic Party, the con- 
servative governing party. Hie 
committee is to hold its first session 
Friday, the sources said, after a 
cabinet meeting has formally ap- 
proved it 

Under pressure from the United 
States, Mr. Nakasone's govern- 
ment announced measures last 
week aimed at opening new mar- 
kets to foreign products and invest- 
ment Japan had a trade surplus of 
more than $44 billion with the 
United States last year. Mr. Naka- 
sone said at a session of the upper 
house of parliament Wednesday 
that the measures were “the way for 
Japan to win worldwide trust* 1 


Reuters 

JOHANNESBURG — Five 
blacks were killed and a white man 
was dragged from his car and set 
afire by an mob in further out- 
breaks of racial violence in South 
Africa on Thursday night the po- 
lice said. 

A spokesman at police head- 
quarters in Pretoria said that three 
blacks died after police opened fire 
in the township of Despatch, near 
East London, and the bodies of two 
men were found on a burning street 
barricade in Kwazakele near the 
southern city of Port Elizabeth. 

Two whites in a car were at- 
tacked by a crowd in a suburb of 
Uitenhage in the eastern part of 


(Continued from Page 1) 

Committee secretary. Mikhail V. 
Zunyaoin, the chancellor said die 
Soviet Union “is the only nation in 
the world which has usable anti- 
satelliie weapons, so-called killer 
satellites. We know that the Soviet 
Union carried out a test of such a 
system over Munich in the s umm er 
of 1983." 

Because of its own research pro- 
Moscow’s attacks on Mr. 
i’s Strategic Defense Initia- 
tive held “no credibility or moral 
justification," Mr. Kohl added. 

But he also appealed to the Rus- 
sians not to exploit the con trove 
over space-based systems to bl 
progress at the Geneva talks on 
nuclear weapons. 

A senior advisor to Mr. Kohl said 
one of the key factors behind West 
Germany’s endorsement of the 
program' was the conviction that 
the preyed bad brought the Soviet 
Union back to the bargaining table 
and might coax an arms control 
agreement out of Moscow that rad- 
ically reduced arsenals of medium- 
range nuclear weapons based in 
Europe. 

In a previous speech, Mr. Kohl 




WORLD BRIEFS 


Britain Is 



2 Soviet Officials 1 * 

the expulsion Thursday of i»* 


jfirt' 


LONDON (Reuters}—! , 

the -Siam, naval aoad* , 
rheS^Sassy Captain Oleg A Los, and a dmtermanap of & 
wSfc? Slot, Vyacheslav A. Gugorov. A Fwetm^a . • 

had been engaging in unacceptable acawtra, triad ■ 
is diplomatic jargon for espionage- . ■ . ■ • 

The Foreign Office summoned the Soviet ambassador m London -; 
Viktor L Popov, to serve notice that the men wa^bonggmm seven day; 
to leave tbecountry. It warned the Soviet Union against the usua . \ 

reaprocal expulsion of British diplomats m Moscow. 

The Soviet Embassy protested thaithe expulsions vwretmMendiy./ 
provocative and without foundation. “The action the Bntish Govern- .. 
ment is of a political character, completely unjustified, and the embassy . . • 
most resolutely protest against this provocative measure, it said m a 
statement. 


Hindu Castes Continue Battles in India 


Tha Aooocdad Piw* 


Mikhail S. Gorbachev, the Soviet leader, drinking tea at the home of two workers in a 
Moscow industrial area, Vyacheslav NQdshin, second from left, and his wife, Tamara. At 
left is Viktor V. Grishin, a Pofitboro member who beads the Communist Party in Moscow. 


Gorbachev Tours a Moscow Industrial Arm 


(Continued from Page 1) 
tin U. Chernenko, also went to a 
factory. But his viol, in April 1984, 
characteristically lacked any of the 
spontaneity or directness that An- 
dropov and Mr. Gorbachev tried to 
achieve, and Mr. Chernenko was 
shown receiving bouquets and trib- 
utes from workers specially gath- 


He called on the employees of 
the plant to use more “economic 
incentives, to show creative initia- 


tive and to develop independence 
ior technical and or- 


himself contended that space- .ered feff thereceptioii. 


based systems “could become in- 
creasingly superfluous” if the su- 
perpowers agreed to deep cuts in 
nuclear 


Cape province, where 20 blacks 
died afterr 


police fired at blacks in a 
funeral procession March 21. 

Autopsy reports submitted 
Thursday to an inquiry board said 
that 17 of the 20 blacks were shot 
from behind, and most of the vic- 
tims were teen-agers. 

The police spokesman said that 
one of the white men was pulled 
from the car, doused with petrol 
and set aligbL He was in a critical 
condition. The other man escaped. 

Meanwhile, an explosion was set 
off at a bank in central Durban on 
Thursday night but caused little 
damage and no injuries, a spokes- 
man at police headquarters said. 

(Reuters, AP) 



JSawfM ® 

Est. 1911 

tell die taxi driver "sank roo doe noo 
5 Rue Daunou, PARIS 
Falkentunn Str. 9, MUNICH 
M/S ASTOR ar sea 



Despite his advocacy of research 
into space defense systems. Mr. 

Kohl did not mitigate any of the 
earlier conditions he has cited as 
imperative for West German par- 
ticipation in the project 

He insisted that the exchange of 
results during the research phase 
“must not be a technological one- d^onT^mosneei 
way street" that benefits only the 

United States. 

The chancellor said a team of 
West German specialists would 
soon leave for the United States to 
discuss conditions of participation 
and to propose areas where West 
German industry could contribute 
most effectively. 

Mr. Kohl also rebuffed Defense 
Secretary Caspar W. Weinberger's 
call last mouth for the allies to 
deride whether to join the projecL 
within 60 days, saying that Bonn 
would “not let itself be put under 


Mr. Gorbachev made his visit to 
the Proletarian Borough of south- 
east Moscow, a sprawling collec- 
tion of giant factories and new 
apartment blocks, including the 
Likhachev truck factory ana the 
Kirov electrical plant. 

Tass reported: “ Mikhail Gorba- 
chev visited the building and pro- 
duction shops of the Likhachev 
plant, spoke with people at their 
work places, showed detailed inter- 
est in their working and living con- 
ts of theamal- 
opment, questions 
of accelerating scientific and tech- 
nological progress, the need to 
reach the highest world levels of 
labor productivity and quality of 
motor vehicles were discussed.” 

The workers, Tass said, talked 
about the need to improve disci- 
pline and incentives. 

“Addressing those present,” the 
agency continued, “ Mikhail Gor- 
bachev said that the party, true to 
the Leninist tradition, constantly 
takes counsel with the people.” 


in solving major 
ganirarinnal problems." 

During his visit to School 514, 
Mr. Gorbachev discussed new 
courses and specifically the use of 
computers. At Gty Hospital 53, he 
talked about new equipment and 
medicines and about the notorious- 
ly low salaries of Soviet doctors. 

In general the subjects cited by 
Tass were those that have become 
central to Mr. Gorbachev’s efforts 
to bolster and modernize the Soviet 
economy. But unlike the published 
reports of Andropov's visit to the 
Ordzhonikidze factory, the Tass ac- 
count of Mr. Gorbachevs tour did 
not report any of the specific com- 
plaints or questions posed by the 
workers he meL 

Stitt, the visits contributed to the 
sense of new momentum that Mr. 
Gorbachev has sought to instill in 
his first weeks in office. Like his 
mentor, Andropov, be seems to be 
trying to take his campaign outside 
the restricted circle of propagan- 
dists and senior parry leaders to the 
people and factory-level managers. 

Last week, Mr. Gorbachev took 
his message to a group of managers 
of factories and state farms, phras- 
ing his appeals in unusually candid 
terms. 


“You can’t ignore the effects of 
the harsh winter, of course.” he told 
them, “but let’s be frank and admit 
that our unsatisfactory perfor- 
mance in the first quarter of the 
year resulted, to a great extent, 
from bad organization, complacen- 
cy and even irresponsibility.” 

Mr. Gorbachev even invoked a 
biblical imag e. 

“We cannot, so to speak, hope 
for manna," he said, in appealing 
far the “intensive and imaginative, 
honest and conscientious weak of 
each individual" 

His a dminis tration has also been 
marked by swelling campaigns in 
the press for broader public infor- 
mation against alcoholism. 

The information campaign has 
taken the form of considerably 
more detailed accounts of party 
meetings at which officials are criti- 
cized, as well as a broad-ranging 
discussion of what glasnast — the 
term Mr. Gorbachev has stressed, 
meaning “publicity” or “public in- 
formation — should mean. 

The Communist Party newspa- 
per Pravda said last week that most 
readers had taken the campaign for 
more glaptast as a call for more 
public criticism “of the press, tak- 
ing a sober approach to evaluating 
achievements and an exhaustive 
analysis of the causes of shortcom- 
ings and oversights.” 


NEW DELHI (NYT) — Violence between rival Hindu castes coctin- .- ■ J 
ued Thursday in Ahmedabad in western India for the fifth straight day • 
and a curfew was extended indefinitely, officials said. The city has been . - • 
the scene of some of the worst sectarian noting m India tins year. 

The national home affairs minister, S.B. Chavan, described the ama. ; 
tion as “tense but under control” According to Mr. Chavan, at least IK . - 
persons were killed and 23 wounded Tuesday and Wednesday at the peak... _ 
of street fighting in which mobs battled each other and Ihe pobce with ■ 
knives and such other weapons as bottles of sulfuric arid, firebombs and *. . 
rocks. The army was called out to restore cal m . 1 

The violence began in March and has taken more than 3 4 lives . It grew 
from protests against a decision by the Gujarat state government to ’ 
increase from 31 to 49 percent the jobs and institutional sealsreservedior : .. 
impoverished and backward castes. That outraged upper castes, which . - 
felt their traditional rights were being threaioied and merit was bong ' 
bypassed. 


Sudanese Leader, Rebel Chief to Meet 


KHARTOUM, Sudan (Reuters) — Colonel John Garang, thereto . " 
leader in southern Sudan, is expected here Thursday for peace talfcO T’. . 
military spokesman said. The spokesman, Lieutenant Colonel Mahmoud . 
Gamal said that Colonel Garang would meet with Sudan's new military 
ruler, General Abdul Rahman Swareddahab, to discuss ways to end the ■ 
two-year conflict in the south. 

Earlier, the military announced that General Swareddah a b, who has ' .7 - 
pledged to end the fighting, h«d rescinded a 1983 decree that split 'T 
southern Sudan into three provinces. A cease-fire is in force between ^ - 
government troops and up to 15,000 guerrillas of the Sudan People's 
Liberation Army led by Colonel Garang. ^ .... 

Many southerners saw the splitting of the south, which had been one7~ ' . 
autonomous r egi on, as a divide- and- rule tactic by General Gaafar NI- -■ 
mein, who was overthrown by General Swareddahab earlier this month. _• 
The division was a major grievance behind the current war there, along 
with General Nimeirfs imposition of Islamic law, at sharia The south is _ 
mostly Christian and animist. General Swareddahab has said that sharia - - - 
also will be revised. — 


U.S. Prisoners Riot Before Execution 


RICHMOND, Virginia (UPI) — Inmates attacked six guards Thurs- 
day in an uprising at the \firginia State Penitentiary ; 


but will ensure it has all the facts h 
needs to make a choice." 

In promoting a common Europe- 
an line toward the research, Mr. 
Kohl said that a high-technology 
project of such magnitude was 
bound to yield “important and far- 
reaching results" in other fields be- 
sides defense. 


Turner Offers to Buy CBS 


(Continued from Page 1) 
“sleaze, stupidity and violence" in 
prime time. 

He has said in speeches and news 
conferences that lie would change 
network programming to “move 


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away from the real violent cops V 
robbers programs and show people 
getting along with each other." 

Mr. Turner is not CBS*sonly foe. 
A conservative group, Fairness in 
Media, which is affiliated with Sen- 
ator Jesse Helms, Republican of 
North Carolina, has urged its sup- 
porters to buy CBS stock to end a 
perceived liberal bias in the net- 
work's news reporting. 

Mr. Turner owns 80 percent of 
Turner Broadcasting, which also 
owns a television station and pro- 
fessional sports teams in Atlanta. 
Industry analysts have been skepti- 
cal that he would succeed in an 
unfriendly bid to control CBS. 

An analyst. Fred Anschel of the 
investment firm Dean Winer 
Reynolds Inc., said of the offer: 
“It's a complex package. Very com- 
plex packages sometimes run imo 
problems, especially when there’s 
no cash and the liquidity of the 
securities is not immediately dear." 

Anne Luzzalto, a CBS spokes- 
man. said in New York that “the 
unusual number and complexity of 
Turner's proposed securities make 
it difficult for CBS to comment at 
this time." 


NASA Cafled 
Blameless 


_ a few hours before 
the scheduled execution of a convicted murderer.' Several guards and 
inmates were injured. 

Helmeted guards rushed into the prison to restore order. Inmates could 
be heard shouting from their cells, and ambulances were called to the 
prison. 

Duncan Brogan, a Virginia Corrections Department official, said there 
was no immediate evidence linking the disturbance to the scheduled 
execution Thursday night of James Briley, although he did not know what 
had caused the uprising. 


* 


Pope Criticized for Greeting Rightists 


it 


(Continued from Page 1) 

About half the people who fly in 
orbit experience nausea. 

“Fortunately, like most of the 
reports, if you take medication 
you're over it in two days and if yon 
don’t you’re over it in two days," 

Mr. Gam said. 

“It’s been a wonderful experi- 
ence, absolutely fantastic," he con- 
tinued. “Fra sorry we have to come 
down tomorrow. I'm glad we got to „ , n , 

stay two days longer and I wish we r OF thf. TvCCOrd 
could figure out some way to stay 
up longer." 

Mr. Gam, who is chairman of 
the Senate subcommittee oversee- 
ing the space agency's budget, said 
he gained knowledge that would be 
valuable to him and to Congress. 

“I mil guarantee the people that 
out of this trip there will be many, 
many times more money saved as a 
result of my insight into the pro- 
cesses of NASA than it ever cost to 
send me to go,” he said. 


ROME (Reuters) — A leader of the Italian Jewish community criti- 
cized Pope John Paul on Thursday for greeting rightist European parlia- 
mentarians, last week. 

The pope briefly greeted the 16 politicians, including Jean-Marie Le 
Pen, leader of the French National Front, and Gioigio Ahnirante, head ijt 
the Italian Social Movement party, at a general audience April 11. 

At a conference marking the 20th amnversaiy of. the Second Vatican 
Council's declaration on non-Christian rcfigioiis,’ Tullia Zcvi, president of 
the Union of Italian Jewish Communities, questioned how Pope John 
XXm would have acted. The declaration urged dialogue with Jews and 
repudiated the idea of collective Jewish guilt for the death of Jesus Christ 


/ Jf 


■r 



The papers filed by Mr. Tamer. fWHs Said tn Arrest 
constituted a formal application '-‘ asuis 3aia ATresi 


Three Solidarity activists, Adam Michnik. ! 

Frasyniuk, have been indicted in Poland on charges arising from the 
Solidarity union's plans for a general strike in February, a prosecution 
o fficial sa id Thursday. (Reuters) 

Britain has expelled a Libyan after arresting hfrn an suspicion of 

“ r ‘~ :J J Ali d-Ati, a 

(Reuters) 

ed Thursday of responsibility to 
two 1983 air crashes that killed 274 people, bnt the parliamentary 
investigators recommended measures to improve safety. (Reuters) 

Three more suspected members of a Jewish terrorist ring were convict- 
ed Thursday in Jerusalem on charges ranging from Illegal possession 
weapons to plotting to blow up the Dome of the Rock, one of the me® 
sacred shrines of Islam. (AP) 




'Ca- - 


for FCC consent to transf er control 
of CBS to Turner Broadcasting. 
The commission will now open the 
matter to public comment for 50 
days before responding to the filing 
by Mr. Turner. 

CBS' major revenue producer, 
broadcasting, accounted for 55 per- 
cent of the 1984 gross receipts, 
while its records business contrib- 
uted 27 percent and publishing 
added 13 percent. 

Its broadcast holdings include 
the CBS television network, two 
radio networks, five television sta- 
tions and 13 radio stations. 


Four Catholics in Raid 


The Associated Press 

VIENNA — Czechoslovak au- 
thorities raided an apartment in 
Prague, confiscated religious litera- 
ture and arrested four Catholics 
last week, an 6raigr6 source said 
Thursday. 

The source said the arrests took 
place April 11 and the four were 
accused of “hindering the controls 
over exercise of religion." 


Km <3 Nam, a leading official of North Korea’s ruling Workers Party, 
amved Thursday in Tokyo at the head of journalists’ He is the 

first Pyongyang official to visit Japan since Tokyo lifted sanctions on 
North Korea on Jan. 1. (AFP) 

Jean-Marie Le Pen, the French extreme right leader, lost a libel action 
Thursday against the satirical newspaper Le Canard Enchaihfe. A court in 
Parts ruled that allegations he had tortured prisoners during the Algerian 
war of independence did not constitute an attack on his honor. (Reuters) 

Beryl W. Sprinkef, undersecretary of the U.S. Treasury for monetary 
aHmrs. was confirm^ by the Senate on Thursday as chairman of the 
president s Council of Economic Advisers. (Reuters) 

^t Tan f m *° Neves, the 75-year-dd president-elect of 
Braal worsened Thursday because of persistent infection, the govern- 
ment said. 


’' •'Cjdss - ^ 




p 




v,^ 


Karpov Gets Soviet Honor 

Reuters 

MOSCOW — The Soviet Sports 
Committee has named Anatoli 
Karpov, who is world champion, 
the chess player of 1984, Tass re- 
ported Thursday. 


Ulster Shootings Raise Questions 


■ Cr ci . 




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(Continued from Page I) 
deny, a high-ranking police source 
said: “The only way you can be 
sure is to shoot them on sight.” 
According to the police, the two 
men were armed with two hand- 
guns but did not fire. 

_ One shooting in particular con- 
tinues to be ated, though it oc- 
curred in 1978. John Boyle, 16 
years old, reported a weapons 
cache (o the police and then, curi- 
ous, went back to see if it was still 
there. He was shot dead by mem- 
bers of the SAS, the army’s elite 
undercover unit, who had been ly- 
ing in wait They said he had turned 


testified in criminal trials that se- 
nior police officials told them to 
make false statements about events 
leading up to the shootings. 

The role of the courts is another 
source erf controversy. These cases 
are heard without juries, and the 
police and soldiers often testify 
anonymously. A small number of 
judges bear most of the cases, and 
their impartiality has been ques- 
tioned by some Irish nationalists. 

An inquest into the 1983 shoot- 
ing that Sunday in Coalisland was 
adjourned moments after it opened 


toward them holding an unloaded TU_i_ vr _i A . 
gun; the medical examiner, whose ™iaysia 1 V Apologizes 

b* For Program on Israel 


Two members of the SAS admit- 
ted shooting him without giving 
any challenge or warning. They 
were tried for murder and acquit- 


last March. The lawyer for the 
Ministry of Defense told the East 
Tyrone coroner the arm y could not 
produce the three soldiers who had 
been called as witnesses. - 

The time and exact cause of 
death of Brian Campell and Coho 
McGirr have not been made public 
by the authorities. But mem bers of 
the McGirr family, who saw his 
body and talked with the medical 
examiner, said he had been struck 
by 42 bullets. 

In an interview, one of two am- 
bulance attendants who arrived at 
the scene said he was made to wait 
10 to 15 minutes before he was 
allowed to walk to the site of tl* 
shooting. He said he asked to late, 
the men to the hospital to confinaP 
they were dead and that his request 




£ 3 . 


£ ^ 




IK- 


SP* 








Untied Press International 

IfTfAT a __ J ---aw uw«u OUU LIliU JUUO ' 

KUALA LUMPUR — Malay- w *s denied. The bodies remained 
P nva l~y ^ television station on the ground for hours, according 


TV3 issued an apology Thursday 


ted on the ground they believed for broadcasting a program on 
thrir lives were in danger. life of the former Israeliprinie min- 


The current con 
laie in 1982 after special pol 
anti-guerrilla units shot six men to 
death and seriously wounded an- 
other in three incidents over a few 
weeks in County Armagh. 

A group of Armagh priests ac- 
cused the police of carrying out “a 
policy of summary execution with- 


tfter. Golda Mrir, and the forma- 
tion of IsraeL . . 

The government of Malaysia, a 
predominantly Moslem country 
does not encourage the dissemlna- 
tioo of material on Israel or the 
presentation of works of Jewish or- 
igin. A spokesman for the station 
said the showing of an unceusored 


out trial," ami CardinaLTomas 0 episode of. the U-S.-made series 
Fiaich expressed “great disquiet” “Against the Odds” during chfl- 
In die past year, policemen in- drea’s /v iewi ng hours was “very 
I9S2 *" 


volved in the 1982 incidents have deeply regretted.’' 


to residents. 

The driver erf the car, who denied 
that he is. a member of the IRA 
although the group itself. says he is. 
said in a recent interview that lb* 1 ® 
was no warning before the shoots# 
and that he knew nothing about 
arms cache police later .said was 
nearby. He said he never saw wbf 
rired the shots and that bullefe 
came from both sides of ihe.roaef 
He was shot nine tiyni^ he said. ^ 

is now a fugitive. 

The police, citing an official 
vesti gallon, said they could rtsA 
com meat on these reports. . ' 


4*:: 


















INTERNATIONAL HERALD TRIBUNE, FRIDAY, APRIL 19, 1985 


Page 3 



By Joanne Omang 
and 

»WWflj£w Fat 


a peace 


ZESS&- 

■ ““S 'hreaiened 


PWedhereThui^-^- 

okesman, Lieutenanir? 

Ig would meet wiS?!* 1 ^ * 

iwareddahah.iodi^^ 

General Su, 


WASHINGTON — .Gtffideel 
pf ri e frui ng Prehrinrrt RoaJ&l Rea- 
g*n~a requoa for atifitary aid to 
afittaowmmect rebels m Nicara- 
gua, Democrat* have drafted sever- 
al proposals to provide humaaimr- 
i u aid mstrad, inriudfagone that 
Haase Weaker Thomas P. O’Neill 
Jr. said would allow (he Red Cross 
u> distribute the tends to “worthy 

people." 

In so appareai effort to stave off 
defeat on the issue, Mr. Reagan 
said Wednesday at a meeting of 
legislators that he "might be toUm 
io on the timing" of 

his proposal but os nootber aspect, 
a senior administration official 
aid. 

Mr. Reagan contin ue d io cam- 
paign hard for his plan. During a 
photography session, with Presi- 
dent Chadh Bendjedkf of Algeria. 
Mr. Reagan said that Pope John 
Paul II “has bees most supportive 
of ail our activities in- Central 
America.” 

Asked if that support included 
military aid. Mr. Reagan said. Tin 
out going into detail, but aS oar 


Comadora 

ptao for Central Ammo.] 

Several members of Congress 
warned . Mr. Reagan at While 
House meeting* that he faced a 
decisive repudiation when Con- 


grass votes Tuesday on his request, 
which would release $14 million to 
the Nicaraguan rebels through the 
Central Intelligence Agency. 

Mr. Reagan has said be would 
use the fmids for food, clothing and 
medicine during a cease-fire and 
would spend it for arms only if the 
rebels and Nicaragua's leftist gov* 
eromeat did not make progress by 
June 1 in negotiation toward elec- 
tions. 

An admutistratioo official said 
that Mr. Reagan recognized “a gen* 
tint desire to be supportive 1 * on the 
pan of several Democrats who vis* 
tied him and therefore had decided 
xo consider extending the Jane 1 
deadline. 

Mr. O'Nall said the Democratic 

alternative, which whs still being 
worked out. would be offered after 
a vote on Mr. Reagan's proposal 
and would be designed to encour- 



mpuke to Do Favor 
Backfires on Reagan 


(Continued from Page I) 


of Nazism also, even though they 
were fighting in the German um* 
form, drafted into service to cany 
out the hateful wishes of the Na- 
as."] . 


Thomas P. O’Neill Jr. 



activities. 


The Vatican a mb a ssa d or to the 
United States, Archbishop Pio 
Lagfii. said that the pope did not 


“I don't bdieve the president of 
the United Sutra wifi be happy 
rmtil hasps are in there,” Mr. 


support military aid 
The chief White 


iad rescinded a l<>iK!j!^ 5 - 
Wnces. AceaJj^^is • 


vinces. A cease-fire i. " ecnc fc 

ser a, -*j , 4s 

-rtceral SwareddafiabS 
tneeb^dtheTenu^' 

ionof Islamic law. or fe 5 ' 

general S^-areddahahlu^lf: 


Hot Before Exeat* 


Hook spokes- 
man, Larry Speakra. said that Mr. 
Reagan's statement did not imply 

Vatican «Twtnry * n flTU, 

“1 don’t think the Holy Father is 
in the practice of getting that in- 
volved m U.S. policy, 0 he said, 
[President Behsaxio Beuncur at 
Colombia sent a letter to Mr. Rest* 
gan opposing renewed xnflhary aid 
for the anii-Sandinist rebels in Nic- 
aragua, The Associated Press re- 
ported Wednesday from Washing- 
ton. Colombia is one of four Latm 
American nations working as the 


I troops are in there," 
O'Neill said. “I want to do every- 
thing in my power to prevent that.” 

Lawmakers and others familiar 
with the Democrats’ proposals said 
one plan would provide S3 million 
to the Red Cross for refugee and 
humanitarian assistance and 511 
nrifikm to the Contadora group, 
comprised of Colombia, Venezue- 
la, Panama and Mexico. 

The Sll million would help the 
four nations monitor the peace pro- 
cess and implement any peace trea- 


much support as the Red Cross* 
Comadora idea. 

Another plan would provide 
about S3 million in humanitarian 
aid to rebel families now and offer 
another S3 million in a few months 
provided some progress was made 
in negotiations with the Sandinuu. 

Still another would restrict the 
S14 million to food and medical 
services for 90 days while peace 
talks began, allowing miliuuy aid 
to resume thereafter only if Con- 
gress agreed. 

The proposal also would spell 
out goals for the government of 
Nicaragua, such as freedom of the 
press arul movement toward demo- 
cratic procedures and political plu- 
ralism. 

■ FBI Admits Interviews 

William H. Webster, the FBI di- 
rector, acknowledged Wednesday 
that agents have interviewed U.S. 
citizens returning from visits to 
Nicaragua, The Washington Post 
reported. He said, however, that 
the interviews were for legitimate 
“foreign counterintelligence" and 
not to harass opponents of Reagan 


A review of what happened since 
the Kohl- Reagan meeting Nov. 30. 
based on interviews with adminis- 
tration and West German officials, 
as wdl as Jewish leaders, reveals an 
almost total lade of involvement by 
the State Department and the West 
Gerinan Embassy in assessing the 
political and even moral implica- 


tions of selecting a cemetery that 
of Nazi 


may contain the bodies 
murderers while rejecting, initiaDy. 
a visit to a concentration camp site. 


At the same time, although US- 
West German relations are strong. 


ed in Bavaria, the site of the Da- 
chau concentration camp. 

Planning for the tnp was taken 
on by Michael K- beaver, the 
White House deputy chief of staff. 
Mr. Denver, accompanied by about 
SO American and West German of- 
ficials, paid only a cursory visit to 
the Bitburg cemetery in Ute Febru- 
ary. Either the present* of the SS 
graves was nor noted ai the time, or 
their significance was not under- 
stood. According to a West Ger- 
man official, the cemetery was se- 
lected because it was near a U.S. 
military base and "the president 
could stay within the compound 
for security and telecommunica- 
tions reasons." It is also near to Mr. 
Kohl's home state of Rhineland 
Palatinate. 


the planning for the trip unleashed 
tide of emoiR 


a tide oT emotion linked to World 
War II that stunned U.S. and West 
German officials. According to one 
ranking U.S. official, Mr. Reagan 
and his West German hosts were 
ambivalent about a possible visit 
by the president to a concentration 
camp site — an idea that became 
embroiled in German domestic 
politics. For example, Franz Josef 
Strauss, the Bavarian leader who is 
a coalition partner of Mr. Kohl's, 
was reluctant to have the Nazi ex- 
termination of Jews commexnorat- 


Once the decision was made to 
visit the cemetery. White House 
officials said, Donald T. Regan, the 
new While House chief of staff, 
endorsed it without question. 
White House aides said that Mr. 
Regan, who took over his post Feb. 
4. was immersed in the administra- 
tion's legislative agenda for the fis- 
cal 198o budget and gave Mr. 
Denver virtually total control over 
planning for the trip. 

In recent days, however. Mr. Re- 
gan has come under private criti- 
cism within the administration for 
his handling of the furor. 



Tin Aaoncwd P>bu 


Michael K. Denver, left, the White House deputy chief of 
staff, visiting the Conner Nazi concentration camp at Da- 
chau, near Munich, cm Thursday. He is doing the advance 
work for President Reagan's trip to West Germany. 


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Olivier Wormser Dies; Paris Envoy, Banker 


administration policy. 

-told the 


ly between the Nicaraguan govern- 
ment and the rrbds. officials sail 


j said. 

Several other proposals have also 
been ckculatod. but the officials 
said that none appeared to have as 


Mr. Webster told the House Sub- 
committee on Civil and Constitu- 
tional Rights that there have been 
approximately 100 interviews and 
that they were not intended to 
“prevent people from going to Nic- 
aragua or make them sorry they 
went to Nicaragua." 


Agenre France -Prase 

PARIS — Olivier Wormser, 71, 
former governor of the Bank of 
France and ambassador to the So- 
viet Union and West Germany, 
died Tuesday after a long illness. 

As directur of economic and fi- 
nancial affairs in the Ministry for 
External Affairs, a post he took in 
1954, Mr. Wormser was largely re- 


in one ur\ policies during the trou- 
bled postwar period. 

Born in Jouy-en-Jnsa*. near Par- 


is. in 1913, his policv work bridged 
Fourth 


England. “Briggflaus"* was regard- 
ed as his best poem, containing the 
memorable lines “Name and date 


sponsible for the formulation of 
Fram 


*rance's foreign economic and 


i) — Inmates attacked si. <**.■* 
ma StatePeniwnuarv a fcffi, 
convicted murderer. Sevoal 


DOONESBURY 


the prison to restore order, bn & 
:ells, and ambulances natafcj 


■directions Department offb[ t 
diking the disturbance to tles> 
mes Briley, although he did rafc 


for Greeting Ri^ 

er of the Italian Jewish ccunac 
day for greeting rightist EnrapsE: 


e 16 politicians. including Jt»i 
Fri 



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the end or the Fourth Republic and 
beginning of the Fifth under De 
Gaulle. 

He was considered one of 
France's most astute negotiators 
and figured prominently in the 
preparation or the 1957 Treaty of 
Rome that created the European 
Economic Community. 

He served as ambassador to 
Moscow from I960 to 1968. and 
then served as governor of the Bank 
of France from 1969 to 1974. On 
leaving the bank, he became am- 
bassador to Bonn until 1977. 


— split in soft date — a few 
months obliterate.” 

Scott Brady, 60. a movie actor 
who played leading man in such 
Westerns and comedies as “Battle 
Flame" and "Operation Bikini" 
Wednesday of respirator? failure in 
Los Angeles. 

Fuouhiko Togo, 69. a Japanese 
diplomat who served as ambassa- 
dor to the United States in the 
1970s. April 9 of cancer in Tokyo. 





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Protest Ban Near Bonn Talks 


Reuters 


BONN — Demonstrations will 
be banned from the city's govern- 
mental quarter May 2-4, when the 
leaders of seven major industrial- 
ized nations meet there for the eco- 
nomic summit talks, police said 
Thursday. 


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Page 4 


FRIDAY, APRIL 19, 1985 


ReraU> 


INTERNATIONAL 



Both Japan and U.S. Are to Blame for Trade Tensions 

L influence. The two groups are tc 


PoUahed With Hk New York runes end The VuUngkm Port 


U.S. Criticisms of Europe 


L OS ANGELES —Is ihe U.S. Scn- 
4 ate indulging in “Japan-bash- 
ing'* — making the Japanese a scape- 
goat for America's policy failures — 
in its threat to retaliate if Japanese 


By Chalmers Johnson 


markets are not opened to signifi- 
rts? Or is 


The recent strictures on Europe's econo- 
my by Malcolm Baldrige. U.S. Commerce 
Secretary, can be dismissed as half wrong or 
accepted as half right. Europe, on the Bal- 
drige thesis, is a backwater of constraints on 
new technology, controls that throttle job- 
creation and entrepreneurship, and resis- 
tance to advancing service industries. 

The evidence for some deep-seated Euro- 
sclerosis is not convincing, as we said on this 
page on March X. Throughout the '70s Eu- 
rope underwent structural change that in no 
way lagged b ehin d America’s. The propor- 
tion of the labor force employed in sendees 
actually grew faster in the European Com- 
munity than in America. During the last 
decade, Europe has had a higher savings rate 
than America, and except for the last two 

years, has experienced faster growth of per- 
capita gross national product 

But the things Europe needs to put right 
are pretty dear. There is too much con- 
straint on the freedom of employers to hire 
and Ere, too liite scope for relative wages to 
change according to how particular indus- 
tries — or companies — are prospering, and 
too great a tendency for real wages to rise 
faster than productivity. This has forced 
down profitability when it should have risen. 

Governments finance their welfare pro- 
grams too much through payroll taxes on 
employers, which is the surest way to ham- 
per job-creation. And although the welfare 
state is supposed to create solidarity be- 
tween labor, employers and government, re- 
lationships at both the national level and 
inside the factory have been surprisingly 
poor. The social partners, as Europe calls 
them, have generally been at odds. 

Labor market inflexibility may slowly be 
waning, partly because of legislative and 
other efforts by governments to steer the 


unions into behavior appropriate to the late 
20th century, but — probably more impor- 
tant — also because the power of the unions 
is itself waning, as the International Labor 
Organization has recently pointed out. This 
may make the unions las myopic, and re- 
store to them the beneficial role they played 
in the immediate postwar years. 

Important obstacles impede the forma- 
tion of new companies and the siting of new 
factories. Bureaucratic procedures can cer- 
tainly be simplified. But there are limits here 
for Europe. Environmental safeguards gov- 
erning industrial expansion are going to 
have to stay strict With half the area of 
America but nearly twice the population, 
Europeans have to be careful not to squan- 
der the heritage without which neither cul- 
ture nor economic prosperity can survive. 

Europe has increased its social welfare 
expenditure faster than the United States 
but not, according to the Organization of 
Economic Cooperation and Development, 
enormously so. Economic efficiency proba- 
bly requires that both continents sober up, 
which they can do by sensible reform. But 
there is no likelihood of any drastic reduc- 
tion in the scope of welfare policy in Europe, 
and near the 40th anniversary of V-E Day it 
is as well to recall why welfare expenditure 
b ecame more important in Europe than. 
America. The United States left the war 
richer than it went in. Europe emerged im- 
poverished. The welfare state was the only 
effective answer to Communism. 

Whichever way the United States goes, 
Europe is likely to remain a managed-mar- 
ket economy. It is only in the past couple of 
years that its perfonnance has lagged Ameri- 
ca's. It has to make changes, but need not 
alter its underlying approach to catch up. 

INTERNATIONAL HERALD TRIBUNE 


candy more US. products? 
American frustration with Japanese 
trade policies justified? 

And what are the long-term impli- 
cations of our deteriorating relations 
with an ally that virtually everyone 
calls “the cornerstone of our foreign 
policy in the Pacific?" 

On the American side, much of the 
name-calling is poetically motivated. 
The Reagan administration clearly 
does not know how to cut the govern- 
ment’s deficit, which is the root cause 
of high interest rales, the overvalued 
dollar, the farm debt crisis and many 
other distortions in America’s inter- 
national economic performance. 

The current Japan issue — a $36.8- 
billion Japanese trade surplus with 
the United States for 1984, and Ja- 
pan's decision to expand auto exports 
to America by 24 percent for the 
coming year — came along at just the 
right time for the politicians. They 
decided to blame Japan for the conse- 
quences of their own policies and 
their own inaction. But there is fire 
under the smoke of Japan-bashing. 

Japan itself has contributed to the 
crisis in at least three ways. First, it 
refuses to acknowledge that its eco- 
nomic success carries with it some 
new responsibilities. Second, its ex- 
planations of its policies would make 
a saint suspicious. And third, it is 
beset by internal deadlocks created 
by its political system — deadlocks 
Tokyo does not know how to resolve. 

On the first point, Japan is today 
the world's second-richest country, 
producing approximately the same 
gross output as the Soviet Union, but 
doing so without any domestic natu- 
ral resources or energy supplies. This 
achievement came with exceptional 
rapidity, and no one in the world has 
as yet fully adjusted to it. least of all 
the Japanese. They do not under- 


stand that the world now expects 
than to open their markers to the 
other, later-devdoping. nations of 
East Asia (South Korea and Taiwan, 
for instance) and to become one of 
the world's locomotive economies. 

Japan is equally unimaginative in 
explaining its policies. When the rest 
of the world identifies Japan's indus- 
trial policies — its smooth govern- 
ment-business relationship, its sys- 
tem of public incentives for the 
growth of high-tech industries, and 
its long-term economic strategies — 
as a major dement in its success sto- 
ry, Japanese spokesmen go an the 
offensive and deny that there is such 
a thing as industrial policy or that 
Japan has one. Instead they argue 


that the bilateral trade deficit with 
the United States is caused solely by 
the “overvalued doBar." 

This argument is based on the idea 
that Americans cannot sell in Japan 
because their products are not pnee- 
comp eritive. But what about nations 


competitive. — - 

whose goods are very price-competi- 
tive — for example, ’South Korea or 
West Germany? They have large 
trade deficits with Japan as well. And 
what dtrus. beef, plywood and rice? 
Their prices on world markets are 
lower tiian anywhere in Japan. 

The truth is that nobody knows 
whether price is the key to selling to 
the Japanese consumer. Tokyo will 
not allow foreign salesmen to have an 
unchaperoned encounter with con- 


sumers. What Tokyo needs is outlets 
such as Sears of the United States. 
The fact that comp arisen- shopping is 
not cultivated in Japan has nothing to 
do with the value of the dollar. 

Another major strain on the Japa- 
nese-U.S. alliance is the deadlock m 
the Japanese government caused by 
the shifting influence of the politi- 
cians and the state bureaucracy, and 
the domination of the politicians by 
the former prime minister, Kakum 
Tanaka. Until the mid-1970s Japan s 
elite bureaucrats actually ruled the 
country while the politicians merely 
reigned This was a good division of 
labor for the high-speed- growth era, 
but ever since Japan bec am e rich the 
politic ians have been increasi n g their 


influence. The two groups are today 
evenly balanced, meaning that the 
bureaucrats must cultivate the politi- 
cians to get anything accomplished. 

The politicians, on the other hand, 
are dominated by Mr. Tanaka who, 
although forced to resign .as prime 
minister in 1974 and convicted m the 
Lockheed case in 1983, remained the. 



single most powerfal politidari in Ja- 
pan until February of this 



;r-j : *5® 

he was hospitalized with a cerebral 

hemorrhage. His absence has caused 
an interregnum of unknown duration 
in Japanese decision-malting, threat- 
ening the foundations of Prime Min- 
ister Yasubiro Nakasone’s govern- 
ment. Moreover. Mr. Nakasone is a 
much weaker prime minister than 
anyone in Washington admits. . 

And yet some good may come out 
of all this bilateral bickering. In the 
long run Japan must make reforms 
and begin to assume, theresponriba- 
ities of a rich nation, if not, it will 
face the global isolation that it expe- 
rienced when Richard M. Nixon was 
president of the United States — 
namely the ending in 1971 of fixed 
exchange rates and the impoatiori of 
a U.S. import surcharge. 

Equally hard reforms mast be 
made in America. We must become 
more attuned to the international 
economy, restore some semblance of 
efficiency and reality to govemmen- - 
tal expenditures, produce and stick to 
a long-term economic strategy and 
try to keep special interests from po- 
liticizing U.S. economic policies. 

If America fails to do this, h will 
soon Find itself beaten by Japan in 
trade matters, even without discrinri-^ 
natory Tokyo officials. Remember, 
Japan this year became the.. world’s , 
largest exporter of capital, and Amer- 
ica became a debtor nation for the 
first time since 1919. Trade barriers 
had nothing to do with that. . 


4 




The writer is the Walter Haas Pro- 
fessor of Asian Studies at the UnNeni- 
ty of California, Berkeley. He contrib- 
uted this to the Los Angeles Times. 


Sex, Marriage and Pretoria Why Economic Moves Against South Africa WiUFail 


To the honor of his rightist critics. President 
Pieter W. Botha of South Africa is moving to 
scrap laws barring marriage and sexual rela- 
tions between whites and non whites. Doing so 
will not placate blacks demanding political 
rights, but voiding the Mixed Marriage Act 
means striking at the legal foundations of 
apartheid, exposng its cruel absurdities. Since 
U.S. pressure has helped bring about this wel- 
come step, that argues for mare of the same. 

An obsessive concern with mixed marriages 
has been the dirty secret of racial politics in 
many nations, not excepting the United States. 
In South Africa in the 1950s, John Gunther 
found that sexual and biological fears played a 
“stupendous" role in Afrikaners' attitudes. 
When their Nationalist Party came to power in 
1949, it outlawed interracial marriages. Anoth- 
er act sought to prohibit “dlidt carnal inter- 
course between Europeans and Natives." 

It made no difference that the preoccupa- 
tion with mixed marriages was based on wildly 
exaggerated fears. From 1943 to 1946, there 
were less than 100 marriages a year between 
Europeans and non-Europeans. The truly dis- 
ruptive effect of the new laws was to wrench 
apart established families when wife, husband 
or children were classified in different groups. 

This classification is the heart of apartheid, 
and the height of absurdity. Besides whites and 
blacks, there are seven classifications of other 
“radaT groups: Cape Colored, Cape Malay. 
Griqua, Indian. Chinese, “Other Asiatics" and 
“Other Colored." Using the shaky test of ap- 
pearance and “general acceptance,” the state 


has to mediate borderline cases. 

Under apartheid, race is destiny. A Group 
Areas Act determines which races live where. 
Travel is controlled. Voting depends on skin 
colon 43 million whites are but 

21 million blacks are legally “citizens” only of 
impoverished, phantom homelands. Other 
nonwhites have their segregated parliaments. 

When the mixed-marriage laws are abol- 
ished. the government will be trapped in a new 
dile mma of its own making . W3L newly legal 
couples be allowed to travel together? Whose 
race will determine where they live? Will black 
spouses be treated as noncitizens even if their 
partners are eligible to vote? No wonder Mr. 
Botha’s right flank is crying havoc. 

The value of this reform is that it forces a 
wider discussion of the peculiar institutions 
that set South Africa apart Pressing the argu- 
ment forward is a feasible policy Americans 
will support, even as they argue about how to 
keep up the pressure. No matter how hotly 
they deny it South Africa’s white rulers are 
sensitive to condemnation from Western na- 
tions, whose values they profess to share. Even 
more than disinvestment, they fear isolation. 
Every anti-apartheid demonstration here, 
meanwhile, is page one news there. 

South Africa’s marriage and sex laws en- 
shrine the official bigotry that has made the 
country an outcast. Eliminatin g them may not 
of itself signify “the dismantling of the nega- 
tive aspects of apartheid," as Pretoria claims. 
But it is the beginning of a beginning. 

— THE NEW YORK TIMES. 


L ONDON — The debate on how to 
/ change South Africa seems to be 
riddled with major misconceptions. 

Disinvestment alone would not be 
a major pressure on President Pieter 
W. Botha or on the South African 
economy. The proportion of foreign 
investment in the nation’s economy 
has been steadily declining 
The only thing that would hurt 
South Africa badly would be a full- 
fledged trade embargo. But while 
some legal and strategic reasons for 
refusing to implement a trade embar- 
go do not bear dose scrutiny, there 
are powerful political, legal and prac- 
tical reasons why economic warfare is 
not an acceptable approach. 
Ironically, it is South Africa itself 


By Jonathan Power 


icauv, 

that helped establish the legal prece- 
. When Mus- 


dent for trade sanctions, 
solini sent Italian troops into Ethio- 
pia in 1935 South Africa argued in 
the League of Nations for the use of 
sanctions. The $cmth African dele- 
gate also male a plea to Italy not to 
divide the world along the color line. 

Strategically, it has been argued 
that western countries need to main- 


tain open trade links with South Afri- 
ca because it is a major supplier of 
such critically important raw materi- 
als as chrome, cobalt and mang?ne«» 
Yet in reality other sources of supply 
can be tapped. More and more west- 
ern nations keep strategic stockpiles 
of these vital materials. 

Substitutes also are increasingly 
available. The political crisis in Zaire 
in 1977, when the world’s major 
source of cobalt was threatened, 
showed how much flexibility exists. 
Cobalt has long been a vital compo- 
nent in jet-engine turbines and high- 
temperature magnets. But when Zair- 
ean supplies were cut, prices rose and 
less valuable uses of cobalt like paint 
dye were discarded. Cobalt-free mag- 
nets were developed and research is 
now well advanced on using ceramics 
for turbine blades. Output of cobalt 
expanded in Zambia and Canada. 

The real reason for caution in the 
disinvestment and trade embargo de- 
bate is the precedent it sets for inter- 
vention in the affairs of other coun- 


tries. An economic campaign 
sufficient to hurt South Africa would 
be a form of warfare, albeit nonvio- 
lent, meant to compel South Africa to 


went on between Britain and the 
United States at the time of the inva- 


sion of Egypt by France, Britain and 
Israel in 1956 to ; 


change its own internal arrange- 
ruthAui- 


menls. If one begins with South . 
ca, logic and fairness would compel 
similar intervention in a host of other 
countries where h uman rights prac- 
tices are unsavory — The Philippines, 
Ethiopia, Chile to name a few. 

This may indeed be the answer to 
the paradox-of why some rightist Re- 
publican senators find it possible to 
support the cause of disinvestment in 
the debate in the U_S_ Congress. It is 
consistent with their support of the 
“Contras," or rebels, in Nicaragua. 

But intervention, violent or nonvi- 
olent. will only lead to international 
anarchy if every country exerts its 
“right” to interfere in the internal 
affairs of countries whose internal 
practices do riot conform to its own. 

The recent publication of the biog- 
raphy of Lord Mountbatten is a time- 
ly reminder of the bitter debate that 


j regain control of the 

Suez C anal. A Republican adminis- 
tration in Washington took. Britain 
and France to task for breaking an 


Tying Up 
All Those 
Loose Ends 


■ Vetemns 

■ feting* 
*yvMav 


important principle of the. United 
barter fc 


Nations’ charter forbidding the use 
of force except in self-defense. Egypt 
was not threatening Britain and 
France, the United States argued. It 
was merely claiming bade a piece of 
its own territory. 


By Sam Zagoria 


WASHINGTON — The tiffing! 


Major Arthur D. Nicholson, 
the U.S. Array by a Soviet 


The only legal case far using sanc- 
i g a i n s t South 


tions against South Africa would be 
an attempt to wrest control of Na- 
mibia, or South-West Africa, which 


Other Opinion 


The Americans Are Worried 


Some observers detea a new spirit of eco- 
nomic cooperation in the spring air. In the past 
two or three years, whenever Europeans have 
complained about the problems created by 
America's mixture of loose fiscal and tight 
monetary policy, namely high world interest 
rates and a disrupt! vdy strong dollar, they 
have been made to fed like whining deadbeats. 
Now it is the Americans who are worried. 

The Americans want the Japanese and those 
European countries with restrictive fiscal poli- 
cies — mainly West Germany, but Britain as 
well — to take up some of the r unnin g by 
adopting a slightly more expansive stance. But 
there is one problem. Unless the United States 
also alters us fiscal-monetary polity mix by 
acting decisively to cut the federal budget 
deficit, there is a danger that the world public 
sector borrowing requirement will rise and the 
resulting competition for savings wiQ force 
interest rates up to recession levels. In short. 


the American proposal makes a lot of sense, 
but economic coordination needs to work on 
both sides of the street to be effective. 

— The Daily Telegraph (London). 


Altitudinal Change for Japan 


Acting on the instructions of Prime Minister 
Yasuhiro Nakasone, the Ministry of Interna- 
tional Trade and Industry is drumming up 
support for a national campaign to promote 
imports. We wish the ministry every success. 
The campaign, to be successful, must be sup- 
ported not only by a willingness to accept 
imports — an altitudinal change — on the part 
of companies and individuals but also by 
changes in the systems and institutions that 
stand in the way of imports, such as the distri- 
bution structure. The campaign must not end 
up being a temporary drive. What is needed is 
a long-term growth in the demand for imports. 

— The Japan Times (Tofyo). 


FROM OUR APRIL 19 PAGES, 75 AND 50 YEARS AGO 


1910: Wilson Attacks Private Colleges 
NEW YORK — Dr. Woodrow Wilson, the 
president of Princeton University, seizes every 
opportunity to denounce privately endowed 
universities and colleges for their subservience 
to wealth and deplores the growth of luxury 
and social distinctions in educational institu- 
tions. His latest address before the Princeton 
University alumni has caused a big stir. “We 
look for the support of the wealthy and neglect 
our opportunities to serve the people,” he said. 
“I ask myself if Abraham Lincoln would have 
been as serviceable to the people of this coun- 
try had he been college-bred. I am obliged to 
say that ‘He would not.’ The process to which 
the college man is subjected do not render him 
serviceable to the country as a whole.” 


1935: Dutch Nana Gain Momentum 
AMSTERDAM — Fighting their first elec- 
tion, the National-Socialist party of Holland 
showed surprising strength In the elections for 
the 1 1 provincial states (which elect the Sen- 
ate) when they obtained 39 seats. This was the 
first time the Dutch Nazis have obtained rep- 
resentation in any election. Although the Con- 
servative Coalition headed by the Dutch Pre- 
mief has lost ground, the elections do not show 
much change in the political balance of Hol- 
land as the Nazi gains have been at the 
expense of the minor' parties. The Dutch Nazi 
party is known to have an active membership 
of about 40,000. When it held its second con- 
gress on March 30 some 16,000 Nazis were 
brought to Amsterdam by special train. 


Getting Caught Out on Little Thing s 


W ASHINGTON — Presidents 
have a habit of stumbling 
over tittle things. The good they do 
on the big things is often forgotten, 
while the blunders they make on 
secondary things live after them. 
President Ronald Reagan's recent 
experience illustrates the point. 

Lately, his administration has 
been concentrating on the balance 
of the nuclear arms race and the 
imbalance in its deficits in the bud- 
get and world trade. Mr. Reagan 
has been talking to the Russians 
without the precondition that they 
leave Afghanistan and stop inter- 
fering in Central America. 

He has compromised with the 
Congress on minor reductions in 
the defense budget and Social Secu- 
rity payments. These are the big- 
ticket items, and while he is con- 
demned for doing roo much or too 
little; be is trying to face the mUi- 


By James Res ton 


tional conference on world mone- 
tary policy, an idea previously 
rejected in Washington. 

So much for the Big Issues, but 
just when they were commanding 
attention, Mr. Reagan came bade 
from his vacation in California and 
diverted attention from arms, trade. 


budget and tax control by launcb- 
igh-visitatit 


lary, economic and political facts. 
For example, he has been 


staunch in his opposition to the 
wave of protectionism now sweep- 
ing Congress. He is pressing Japan 
to open up its markets and help 
narrow the S37-b31ion trade deficit 
with Tokyo, but he is not blaming 
Japan for all U.S. economic ills. 

Neither is Secretary of State 
George P. Shultz. While calling on 
Japan to “Buy American,” he re- 
cently acknowledged that the $200- 
biilioo a year U.S. budget deficits 
were at least partly responsible for 
the distortions of the world’s trade 
and monetary systems. 

In another switch, the new seem- 


ing a week-long high-visibility cam- 
paign to get $14 million out of Con- 
gress to help the rebels fight the 
government of Nicaragua. 

This is the most puzzling thing 
about Ronald Reagan, both for his 
supporters and his opponents at 
home and abroad. Seeking concen- 
sus on the primary issues, he dra- 
matizes the most divisive issue on 
the foreign policy a g e nda 
He does not mean to pick a fight 
with Congress just when he needs 
its support, but he makes no dis- 
tinction between the primary and 
secondary issues of the day. 

Why at this critical moment in 
military and economic world policy 
he would invest so much time on 
Nicaragua is not dear. 

Mr. Reagan insists: “I pledge . . . 
we will do everything we can. to win 


One man ran mas to- all the derails 
of domestic and foreign polity, and 
leaves “the little things" to his staff. 
If this is true, it follows that his staff 
has been getting him into all sorts 
of unnecessary conflicts. 

Take the meeting with Pres dent 
Mikhail S. Gorbachev of the Soviet 
Union. First, they announce that be 
favors a meeting with the Soviet 
leader. Then they say a meeting 
would be all right, but not a summit 
meeting that would have to be pre- 
pared with the utmost care. 

Meanwhile, Michael K. Deaver, 
deputy chief of staff at the While 
House and the president's principal 
image-maker, goes to Europe, boys 
a fancy German car at a discount, 
and arranges for the president to 
visit a grave of German soldiers, 
but drip a visit to the Holocaust 
furnaces — all tins in the name of 
“rcconcfiiatiou-” 

When this infuriated almost ev- 


, who had longer memories 
orMr. 


this mat (Central American) strug- 
gle. But Helmut Schmidt, the for- 


taiy of the treasury, James A. Baker 
" t Paris an interea- 


3d, proposed in 


mer chancellor of West Germany 
was in Washington this week won- 
dering why the president had not 
really backed the policy of an inter- 
national Marshall Plan for a peace- 
ful solution to the problem. 

The kindest explanation is that 
Mr. Reagan does not pretend that 


than Mr. Reagan or~Mr. Deaver, 
the president switched a gam and 
agreed to go almost anywhere to 
reconcile anybody with everybody. 

Sometimes it is the little things, 
however, that get in the way of the 
tug things, and Mr. Reagan is a 
master of neglect. He did not mean 
to infuriate the Russians by talking 
about their “evQ empire" or hurt 
the Midwest Republicans by joking 
that maybe America should “kero 
Lbe grain and export the farmers/ 

It is just that often be does not 
mean anything except that what oc- 
curs to him might be popular with 
whatever audience he's addressing. 

The New York Tunes. 



Wof 

Jr. of the 
sentiy in East Germany last month, 
was a dastardly deed, bit the details 
of what happened are stiff confusing. 

Facts about the incident have been' 
seeping out, and the stories keep 
changing. This points to a continuing 
problem for ine media — giving 


.A 






South Africa occupies illegally and 
from which it threatens neighboring 
Angola. This is the nearest parallel to 
Italy’s takeover of Ethiopia. Howev- 
er, very few of the anti-apartheid lob- 
byists have Namibia in their sights. 

Principles aside, it is not pan of the 
white South Africa temperament to 


bend before outside pressures for a 
itraJ to their well- 


cause they see cent 

being. However, internal pressure has 
been shown to work. The efforts of 
some of the big corporations which 
have chosen to lobby the South Afri- 
can government to improve the l egal 
rights of blades in the housing market 
and to allow unions have produced 
some favorable results. 

This is why the two codes of busi- 
ness practices that have been drawn 
up — the Sullivan principles in the 
United States and the European 
Community code in Western Europe 
— are important. They encourage 
companies to be more activist about 
issues that directly involve them as 
employers. Indeed, there is every 
good reason why the U.S. and Euro- 
pean governments should makg the se 


Nt- 


codes both tougher and mandatory 
not just in South Africa but wherever 


their companies are working abroad. 

South Africa needs an infusion of 
outside ideas and values. Driving it in 
upon i tself and then seeking to over- 
come it by force is neither right, nor 
practical, nor effective. 

International Herald Tribune 
A Q rights reserved. 


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© 1985, International Herald Tribute. AH rtrftis reserved. 



Teaching Japan a Lesson 

Regarding “ It's Not Japan's Fault " 
(April!): 

It seems the editorial writer of The 
Washington Post was more intent on 
Reagan-bashisg than on exploring 
the real cause of trading problems 
between the United States and Japan. 
Most of the trade with Japan is chan- 
neled through innumerable subsid- 
iaries of a few, huge' trading corpora- 
tions. These can, along with of 
bureaucracy and insidiously con- 
caved specifications, sabotage any 
trade agreement and maintain im- 
ports within the limits they care to 
set. Such inefficient imp o r t controls 
make it ludicrous to fault American 
business for not trying hard, as Japan, 
is fond of doing, or to pontificate 
about the overvalued dollar. 

Indeed, Canada and Western Eu- 
ropean countries do not suffer from 


over-valued currencies. Yet they ap- 
pear to have just as much reason to 
complain about Japanese trading 
practices, a nuance, which obviously 
escaped the writer’s attention. 

Free trade is a two way street and 
the sooner we teach a lesson in this 
respect to Japan, the better it is. 

LESLIE BERENYL 

Toronto. 


can prove that many readily available 
and equally good items exist — but 
because they are not stamped with a 
pan number they are unacceptable. . 
All that Senator (Charles E.) Grass- 
ley needs to do is tdl the purchasing 
officials to buy “one or equal” parts 
— and he will get his plies for $7.61. 

GERRY WOOLL. 

Wegen, Switzerland. 


“Bedtime for Bonzo" in winch he was 
so ably supported by Ronald Reagan 
SCOTT CHARLES. 

Geneva. 


are Itsw, and then dealing with new 
and different details when the news. .7-^ 
i mpa ct has dmrimsfied. : . ■ ■ ’& »-*Z 

lTrcprobtemmthis case; was even * 

more awkwanl, becspse.it jnvplved 
repotting facts thai chall en g ed initial 
statements by the UJ5. government 

The first report by a State Depart- . 
merit spokesman on March 25 said 
the major was 300 to 500 yards (274. 
to 456 meters) oalside a permanently ' 
restricted area when he was shot 
without wanting by a Soviet soldier. _ 

. The same report said the Russians' 
charged that the major had entered a ; 
restricted Soviet imlitaiy installation, 
despite warning signs in Russian and 
Gennan, and was caught taking pho- 
tographs of combat eqnipmenL " . 

The next day’s story added to the, 

Soviet charges. A Moscow dispatch 
said Major Nicholson bad secretly, 
approached a storage facility, opened' 
a window and begun taking photo- 
graphs. Obviously this meant ne was* . 
closer than 300 to 500 yards: . rf 

Two days later, ix was reported that 
the Reagan administration had given! 
ground and now acknowledged that 
Major Nicholson was attempting to' 
photograph Soviet miliiary equip-., 
meat m a garage-like storage shed. ; 

The press also noted that ari minis - 
trail on officials did not dispute the 
Russian statement that Major Nkh-’ 
oison had opened a window and was' 
taking pictures when discovered. 
i The American and Soviet versions - 
were now coming closer together, but 
then the administration officials took ' 
a new position — that the -shed was ' 
not in an area permanently r e stri cted 1 
by the Russians, but that a foraw 
“off-limits” prohibition had been 
lifted during the previous month. • : - * & 

But the next day The Washington* - 
Post, citing Pentagon o fficials who 
interviewed Major Nicholson’s driv- 1 
er. Sergeant Jesse Schatz, reported an 
entirely different version: The major' 
never reached die storage shed be' 
intended to investigate. He did not 
open a window or take a picture of 
the interior of the shed. 

The Post also reported that “de-. 
spite earlier statements, officials at 1 
the State and Defense Departments 
said the site of the Wiling had aotf 
been designated as a temporarily re* 1 
ancted area by the Soviets at any' 
tune in the recent past/ 1 
. wee ^ the Post printed a Ren-' 
tere dispatch from Bonn revealing a - * 

^ S-^f^Vattitude: AfteTb3# 
defended by his government for sev-' 
eral weeks, the sentry now faces disc*-* 
plmary man ures and might be court- 
martialed for using excessive ‘ 


~ i‘. — . 


-.71 


’■ _ _ 


u 


.-c 






: 


•jc- : 


- '. , .-T 




Ve 


Hvjfl 


.... 


y ji 


2 e K, 


Wealth Most Be Earned 


* a — cessive force. - i. f.-? 'ii- l ‘"i 

According to a report tiffs wwk in. 


Pliers: A Standard Case 

Regarding the from page report- 
"Peniagan Pliers Deal: $90 — (But 
Read the Small Print)” by Fred Hiatt 
and Ride Atkinson (March 23): 

As a World War II Royal Air 
Force pilot and postwar repair and 
overhaul contractor to the Canadian 
government, 1 want to say that this 
business of the manufacturer Stamp- 
ing a part number on his products has 

cost taxpayers in the West heavQy, I 


Chetta’s Other Star Role 


not to use force in 
rases m the future. ^Ih adtfc 

“on, Soviet military officials repeal* 
to refe “to Mgheranl 
nty an American AemsmA 


Regarding an item in the “People* 
of March," 


SjPQtogy over thcshootzzigof theUJSj| 


column of March 30: 

The reminiscence of the retiring 
Cbetta and of his fame as 11 . . .the 
sidekick of Johnny Weissmuller's 
Taizan” is not to be considered (he 
definitive biography of this popular 
thespian. The record would be in- 
complete without mention of the per- 
formance of (be gifted anthropoid at 
age 19 in the title role of the dasac 


ray major last monthT 
Major Nicholson is i 
cannot be ‘ 


Regarding the opinion column 
“Helping American Industry Com- 
pete" (April 3) by John A. Young; 

What a jewel of a report! What 
excellent recommendations! The fi- 
nal wanting that “the standard of 
living that Americans enjoy has to be 
earned; the world market does not 
bestow it as a right,” vividly reminds 
me of the saying some 200 years ago 
of Goethe. He said: “What you have 
inherited from your parents, earn it al 

to possess it." What sunilariry in ex- to Whether it b possrb&IJI 

pressing tfc same basic; truth, despite ‘ ' 

a lapse of two centimes. 

JOHN BODE. 

Palma deMaHorca, Spain. 


dead: Thajt. 


AHiasrentxe 
urcomsiances of this Am 
sad death amid voktik U-S. 
relations remains a question. 
T 7 * Watfungonfass. i 


T*r . : 


X. 










>*&-- 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, APRIL 19, 1985 


sft2r 



re »ucra iancc ' 1 - wuu p s >« — j 7 — — t ^ Visits Syna 

SSSSSSS For Discussions on Beirut Security 


raster in wS?? to 


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d h?® 1 l »SS rfw e = 

« of a richn^ AcraLS* 

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; Qced when J?S ail0n liter 5 * 

Sjw, 

S^.S d,n f 

ein America nt^. 

°^Y. resiore i 

-’ and realu^V.; 




BEIRUT ^ Prime Minister R*- 
sttkfKirana iron Thursday to Da- 
natfOK amici reports liut Syria war 
pressuring him to retract the rcsig- 
nation of Lebanon's ouksutl unity 
cabinet 

Mr. Karami, 63, * Sunni Mos* 
km. resigned Wednesday to pro- 
test what he called a “honifie 
nigfamarc" of violence as rival 
Modem rafliiUB dashed-in fierce 
siren battles for control of West 
Beirut. 

A spokesman lor Mr. Koraon 

sad the talks in Syria would coo- 
centra te on prevailing coodi boas in 
Bonn that prompted the prime 
minister's resignation. 

Mr. Karacm agreed to Hay on is 
a caretaker capacity for as indefi- 
nite period alter annamring the 


chanee in TSjf^.V SOvcrmneni’j resignation after 

U <s fZL*’ J nd jj)^ J' of j-p_ - Mosl 


in West Bdrat said Palestinians 
loyal to Yasser Arafat, the bead of 
the Palestine Liberation Organiza- 
tion, were also hard hit ia Tues- 
day's fighting in the capital, and 
victorious mmiiamcn were search- 
ing their camps around ibe city for 
arms. 

Fobucal sources said a major 
factor in the dashes appeared to 
have been Syrian determination to 
stop Mr. Arafat from regaining a 
Beirut power-base, destroyed after 
land's 1982 invasion of Lebanon. 

A headline ia zbe pro- Syrian 
newspaper Ash-Shsrq said “Beirut 
foils a plot by Arafat and his sus- 
pect toms.” 

Nabch Beni, the leader of the 
Shares, calkd the fighting a “night- 
mare.* ' 

Walid JumbLu. who heads the 
Druze faction, made no comment 


?«w*y. resiore Cl U3le ^ : 
fmency and rea S^sen^-- 
^Penditures^.'! 1 ^^ 
long-term ecoE?"***** 
1 toluep specijS? 
mang u S *•« n,efes isfrL v 

•on find iise[f beSLfl'^ai 

sfKa-sfoi 

a became a defi?** 
ret tune since 1919 t5& 
******* 

The timer is rh? u,-.,. . 
ssorofAsicn 

oj Californio, Berkfa*» lm * 


B P7 ; 


Gemayd could piece 
able afiernative to the 


lem militia battles that coatin' 
ued for more than 12 hours. 

There was so indication who 
might eventually replace Mr. Kar- 
or whether President Amin 
a vi- 
gov- 

ertunenL 

Mr. Karami conferred earikr 
with Salim al-Hoss, a Sunni Mos- 
lem who is the education m i n i v er 
and is a former prime minister, and 
other leading Sunni political fig- 
ures. 

■ Life in Bonn began returning to 
jtormal, but there were moments of 
panic when nrifiiiamcn let off vol- 
leys of madnno-gun fire in the air 
during funerals of their fallen com- 
rades. 

Security sources said 36 people 
were killed and about 150 wounded 
in the fighting in which Shiite and 
Druze forces crushed Sunni, tied 
Palestinian fighters. 

Shiite and Druze mitiri* jounces 


.beyond scoffing at the resignation 
of the government. Both men are 
members of the resigned cabinet. 

Mr. Bern is an ally of Syria,, 
which opposes Mr. ArafaL Mr. 
Bern said the fighting resulted 
from a carefully planned uprising, 
hinting at Palestinian involvement. 

In another development, (he 
American Lhuveraty of Beirut said 
its acting vice president for admin- 
istration, George Saycgh, a Leba- 
nese, had been kidnapped by 
armed men from his West Beirut 
home. fdP, Reuters} 

■ US. Regrets Resignation 

The Reagan administration ex- 
pressed regret Wednesday over Mr. 
Karaai's resignation and said “it 
comes at an untimely moment," 
United Press International report- 
ed from Washington. 


Union Carbide to Give $5 Million 
bt Bhopal Aid Before Court Bales 

The Atsoaaud hm 

NEW YORK — Union Carbide Corp. agreed Thursday to provide 
$5 million in emergency aid to survivors of the toxic leak in Bhopal, 
India, without waiting for (he courts to determine whether the 
company is legally liable. 

The aid was suggested Tuesday by John F. Keenan, a U S. district 
judge who is in charge of the more than 60 lawsuits filed against 
Union Carbide in the United Slates in connection with the leak 

“Union Carbide Corp. shares the court’s deep concern about the 
health and welfare of the surviving victims of the Bhopal gas leak 
and recognizes the importance of immediate interim relief,' 


Rdf H. Towe, company vice president and treasurer wrote in a letter 
to Judge Keenan. 



wc arc prepared, as we nave oeen on along, 10 mute suen apaymenL 

be added. Union Carbide had previously donated SI mSuon to the 
New Delhi government's emergency relief fund, and the company's 
Indian Subsidiary had pledged the equivalent of 5840,000. 

The Indian government, which west to court against Union Car- 
bide last week, said it was aware of 1,700 deaths and as many as 
200,000 injuries that resulted when a cloud of methyl isocyanate gas 
escaped from a Union Carbide pesticide plant and drifted through a 
slum on Dec. 3. Other estimates nave placed the death loD higher than 
2J)00. 


Moscow Backs A-TestBanbyAug . 6 


Soviet Asian Fleet Ends 
'Extensive’ Exercise 


Vnv York Times Service 

WASHINGTON — The Soviet 
Union has endorsed a Washington 
group's proposal for a ban on all 
midear tests by Aug. 6, the 40th 
anniversary of the atomic attack on 
Hiroshima, The United States, 
however, has rejected the proposal. 

. The Soviet decision was con- 
veyed to the group, the Center for 
Defense Information, on Monday 
and made public Wednesday by 
Tass, the Soviet press agency. 

But the response seemed to sug- 
gest that tire Soviet Union would 
Balt its underground testing of nu- 
dear weapons only if the United 
States ana others did ihe same. 

All but underground tests are 


banned by a 1963 treaty involving 
the United States, Britain and the 
Soviet Union. 

The Soviet move followed by a 
week the announcement by Mik- 
hail S. Gorbachev, the Soviet lead- 
er, that there would be a six-month 
freeze on deployment of Soviet mo- 
dium- range nuclear mi«ili»< in Eu- 
rope. 

Last weekend the Soviet Union 
took part in an East-West confer- 
ence at Emory University in Atlan- 
ta, where Ambassador Anatoli F. 
Dobrynin said that Moscow was 
ready to negotiate a complete test 
ban immediately. 

[The State Department issued a 
statement saying it had not re- 
ceived a formal proposal from the 


Russians, The Associated Press re- 
potted. 

[The dcmrtmenl said it was con- 
cerned “about the desirability of an 
uninspected testing moratorium 
and the verifiabDity of restraints on 
nuclear tests, unless there are sub- 
stantially improved verification 
provisions."] 

The UniiM Slates has said it 
needs to continue underground 
tests to maintain its nuclear deter- 
rent, and negotiations have not 
been held since 1980. 

In August the Center for De- 
fense Information proposed that 
all nations cease nuclear testing be- 
fore this year's anniversary of the 
attack on the Japanese city by the 
United States during World War 
II. 


Israeli Official 
Is Confident 
On Mubarak, 
Peres Meeting 

By Edward Walsh 

H’cahorgton Pint Sert.^v 

JERUSALEM —An Israeli cab- 
inet minister. Ezer Wozman, re- 
turned from Cairo on Thursday 
and expressed confidence that he 
had advanced the prospects of a 
summit conference between Prime 
Minister Shimon Peres of Israel 
and President Hosni Mubarak of 
Egypt in the relatively near future. 

In a telephone interview, Mr. 
Weizman said he thought that his 
two days of talks with Mr. Mu- 
barak and other senior Egyptian 
officials had helped to “force the 
issue” of a summit meeting as a 
means to improve the chilly atmo- 
sphere surrounding Egyptian- Is- 
raeli relations. 

But Mr. Weizman. a minister 
without portfolio, declined to spec- 
ulate on how soon such a meeting 
may be held. Other senior Israeli 
officials said it could be in “a few 
weeks, or maybe a little longer. 1 ' 

“I don't want to talk about next 


The AuocuUed Prta 

WASHINGTON — A huge So- 

“the most extensive and rS ? h 5ESW te eVCT wn m0T1,h 
exercise" ever mounted by the So- 15 . . t - . 

viet Union in the Pacific Ocean, .“Jf Weizman trip to Ouro. 
accordinTto U.S. Na^sourS^ Foreign Minister Yitzhak 

(uug __ v Shamir and other members of the 

The sources saul Wednesday rightist Ukud bloc sought unsuc- 
that a Sown task group led by the ce&sfully u> prevent, appears to 
carrier Novorossiysk passed Tues- have added impetus to the pros- 
day through the Soya Strait north pects for the first summit meeting 
of Japan, apparently on its way between Egyptian and Israeli lead- 
back to Vladivostok. “This exercise «* since 1981. 
was the most extensive and realistic That has been a primary ot»cc- 
we’ve ever seen the Soviets perform tive of Mr. Peres since he took 
“J 1 * a high-ranking office last September and is seen bv 

officer. “They were concentrating his aides as a necessary first step 
on training to oppose a US. air- toward a revival of Ihe orerall Mid- 
craft earner battle force." die East peace process. 



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HOta 


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Telex: 214401 CH GR 


Tying Up SS Veterans 
All Those Set Meetings 
Loose End* 111 ^ 


By Sam Zagoria 

r V of Major Arthur D. NfcS 
■- of uie U.S. Array by 
nmy in East Germany ba m? 
as a dastardly deed. But fcfc 
1 happened are still coafe 

Facts about the incident haveb; 
xping our. and the stono fc 
longing. This points to aconi®; 
robiem for the media — ac 
cavy play to a news event afajfc;' 
re fevv, and then dealing^ 
nd different details vrhsnk H 
npjet has diminished. 

The problem in this case 
tore awkward, because a k& 
.•porting facts (hat chalkngflini 
latemen ts b\ the U.S. governs 
The first report by a Slate Dtp- 
tent spokesman on March 2 e 
re major was 300 to 500yarajG- 
y 456 meters I outside a psmitt 
istric-ed area when he vn i 
•ithoul warning by a Soviet dfc 
The same report stud the Rke 
harecd that the major had eflcri 
jsincted Soviet military instate 
espite warning signs in Rusatc 
Jerman. and was caught ubiijsfc 
ugraphs of combat equipest 
The next day's store addedFt 
evict charges. A Moscow 
aid Major Nicholson had «* 
pproached a storage fadiff-tg 
window and 


By John Tagliabuc 

,Vew York Tima Sere [«■ 

BONN — Veterans of the SS, (be 
elite Nazi guard, arc expected to 
bold two mqior gatherings in early 
May that wul span the 40th arim- 
veisaiy of the end of World War II 
in Europe. 

The meetings, expected to be at- 
tended by about 500 former 
Sckutistafjel troopers, wfll idee 
place in the southern West German 
town of Nessdwang, ' 

On May 5, President Ronald 
Reag&n is to by a wreath at . a 
cemetery for German war dead, in- 
d uding members of the Wafien SS. 

'That ceremony wiH take place at 
Bhbnrg, about 250 znSfi (408 kilo- 
meters) northwest of Nessdwang. 

Ness el wang’s town council 
sought lo ban the SS meetings, ac- 
cording to a council member, Wolf- 
gang von Wysdtctzki. Bat experts 
advised that ^no legal instruments" 
existed to do so, and the conned 
voted unanimoosly to condemn the 
gatherings, to “spoil their fun 
here," Mr. von WyscherzJri said. 

A local political action group has 
sprung up to oppose the gatherings, 
and labor unions, supported % 
several political groups, plan pro- 
test rallies in the town May 11. 
[The opposition Social Dano- 
rals called on 



Afl traffic on tibe streets of Tel Aviv halted Thursday 
minutes of sfienttinbooorof the six million Jews killed by the! 


Romra 

as Israelis observed two 
azis during World War EL 


Israel Honors Victims of Holocaust 


crais called on the government 
Thursday to take steps to ban the 

gatherings. Vailed Press Intern*- 

raphs. ObYioaslv ihismant^ „ tjona] reported from Bonn, 
loser dun 300 to 500 yards, i ' [A resolution introduced in the 
n Bundestag, or parliament, said fed- 
eral and local autlxnities should try 
to block the rallies.] 

The SS veterans are members of 
an organization known as H1AG, a 


Goman acronym for A^J * Sd^Hy K 

Society. Its members hold annual visit the site of a can- 


TWodayslai er. it 

he Reason >dministrau«iB»w 

round and now acknowte^a- 
,laior Nicholson was anajj 
holograph Soviet nulMT^ 
neni ; n a siniW-li^ 

The press also noi&i ^ 
ration officials did not 
Russian sutemem 
ilson had opened * 

^pictures *h« I*** 

The American 

ben uieadnumstrauoj^®,. 

new position — h>rfi otf 
coiiaanareapennanwJ lWS 
iv the R^^vS^hKlP 

off-limits proniv' ^ ^ ^ expeciea way i i-ia. 

if led dunr g me P rc l. L The councilman said veterans of 

But the ceM da) 11 c lwo 1st Corps formations, the Leib- 
Vsl citra? ; r hoL«fl' 5 ^ standarteAdoif Hitler ami the Hh- 

• - ***"■ -* ler Youth, would also attend the 

meetings in Nessdwang, a town of 
about 3,000 near the Swiss border. 

The Hitler Youth was an SS for; 
matron distinct from the Nazi 
youth organization of the same 
name. 

The gatherings are expected to 
be held m large tents near the Hold 
Krone, whose owner, Rolf Bucheis- 
ier, is a former SS soldier. 

Mr. Buchdster refused to talk to 
a reporter who telephoned the ho- 
tel. But a woman who identified 
herself as his wife, describing the 
meetings as “just social gather- 


JERUSALEM — Air raid sirens 
sounded and Israel came to a 
standstill for two minutes Thurs- 
day to honor the estimated six mil- 
lion Jews tilled by the Nazis. 

The annua] Holocaust Martyrs’ 
and Heroes' Remembrance Day 
was marked by strong Israeli criu- 
ri.gn of plans by the UJS. president, 
Ronald Reagan, to visit the Bribing 
German war cemetery during com- 
memorations of the 40th anniversa- 
ry of the Nazi defeat in World War 
U. 

Responding to protests, Mr. 


meetings and claim io pursue social 
and charitable aims, such as caring 
for members' pensions and aiding 
family members in need. 

Mr. von WyschetzkL a member 
of the Social Democratic caucus, 
said ‘‘about 250 veterans” of the 
former SS Death’s Head units, 
some with their families, were ex- 
pected to meet May 2-5; a compa- 
rable group from the 1st SS Panzer 
^ Corps is expected May 1 1-12. 


^ 5 Maior NicBo^ 

atervie*ed ^-- p «>Miz.rep®5: 

T.SarseoM^JSn,;^ 

mended “ 

” 3 


The Post also 
pite sariiet sut^pepsj:. 

he State ^ f'L m*. 

L.ist weex goiflijS 

ecs uisp^ k * n 1 ings,” said their purpose was to naUysaid he had decided not to go 

IClfc RllSWffl our! “litIV ahrtiil tlv“ ' TWhaii cftt tf iilinriftn pumn 

jefended bvh^ 

paruala® w. ^ 

Accormiji, i 
helntemaua^ 


centra tioo camp in West Germany. 

Across Israel, traffic stopped 
and people stood at attention, 
heads bowed, as sirens signaled two 
minutes of silence at 8 A.M. Radio 
stations played somber music and 
movie houses, and theaters were 
dosed until sundown Thursday. 

■ Israefis Criticize Reagan 

Edward Walsh of The Washing- 
ton Past reported from Jerusalem; 

Critics of Mr. Reagan's plans, 
including the speaker of Israel's 
Knesset, said the president's an- 
nouncement of his decision lo also 

visit the site of a concentration 
camp was not an acceptable com- 
promise. 

“There is no room for symmetry, 
especially in die era of forgetful- 
ness that has broken out m the 
world now," the parliament speak- 
er, Shlomo HIlkL said Wednesday 
in a statement at the opening of a 
special session of the Knesset 
called to deal with economic legis- 
lation. 

■ Other members of the Knesset 
echoed this theme in statements 
critical of Mr. Reagan, who origi- 


would visit a concentration camp 
site. 

A member of the Knesset, Haike 
Grossman, a survivor of the Nazi 
extermination, said dun if Mr. Rea- 
gan intended his visit to a concen- 
tration camp as a way to “balance" 
his participation in a wreath-laying 
ceremony at a German military 
cemetery. Israel should tell him 
“don't go to Dachau because there 
is no balance.'' 

The cemetery Mr. Reagan plans 
to visit indudes the graves of some 
members or the Waffen SS, the 
military arm of the Nazi elite 
guard. 

“How am be make a balance 
between the soldiers or the SS and 
the victims?" she said. “It's not the 
same story.” 

Asked if she thought Mr. Reagan 
was seeking to “give absolution" 
Tor the Nazi war crimes against 
millions of Jews and others, she 
replied, “Yes, I'm sure.” 

The Reagan announcements, 


which have received extensive news 
coverage 1 and critical editorial com 
menu in the Israeli press, coincided 
with the annual tribute to victims 
of the Nazi extermination. Follow- 
ing Jewish tradition, the obser 
vance began at sundown Wednes- 
day and will conclude at sundown 
Thursday. 

The main ceremony at Yad Va- 
sbem, the memorial erected to the 
minions who died in Nazi camps, 
was attended * 

inchi 

Peres and President Chaim Herzog. 

An aide to Mr. Peres said 
Wednesday that the prime minister 
had made no comment on the Rea- 
ran trip. In his remarks at Yad 
Vashem on Wednesday night, Mr. 
Peres did not refer to it directly. 
But in an indirect reference to the 
While House handling of Mr. Rea- 
gan's plans for his visit, Mr. Peres 
recalled that few people sought to 
aid the Jews during World war II. 


!r. Reagan plans 

was attended by public officials, 
xJSrr^f including Prime Minister Shimon 

.k- v,3 Peres and President Chaim Herzog. 


An Invitation 
toOxfcid 

The International Herald Tribune and Oxford Analytics 
pre s ent a Special Conference on 
The International Business Oudook. 

Christ Church, Oxford, 

September 19-21, 1985. 


“elect officers? and 
things like pensions. ' 


talk about the Dachau concentration camp, 
then announced Tuesday that he 


jrnilar c r s ' - rl .,hi;jn h#' 
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ESTATE AGENTS 

40 BEAUCHAMP PLACE LONDON S.W J. 

MOUNTAINS DES MAURES, VAR, SOUTH OF FRANCE 

Attractive bnaodow in benitifal setthig built in 1965 for piwwnt owzurre 
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40 lnlometexa from Todon, 19 kilometers from Le Lsvandou and sandy 
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Price, folly furnished; £100.000. 

For further detail*: 

BOYD & BOYD, London 5S4-8893. 


LUCRATIVE INVESTMENT 
IN MUNICH 

Modern Squash-Center in attractive location 
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Prinzonrtrafie 12, D-8000 Munich. 
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Montreux-Geneva lake 
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For sale luxurious apartments, 
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RlGtE DE LA RIVIERA SJL 

32 avenue du Cadna 
TWO Meatreux-Switxorfand 
Tot: 021/635251 

Tataic 25873 aril <h 


FRANCE 


C6te d’Azur 

Superb villa Cap cf Antibes, 
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= TeL: (93) 34.05.76 = 






n i o i— mwi ovinw 




Opw 

Hftrti 

LOW 

Lost CO*. 



1281J1 

1260L82 1265.13— 7.18 




58680 

689A6— AST 




154J5 

15403 + IL4I 

Coma 

51X96 

51U4 

51084 

51302— 261 


Pnrrtw_ Todar 
HtB b LM Ctaa 1PM 

Compos! hi 1QSJ6 10SJM 10529 10496 

Industrials 120-80 12050 12075 120.16 

Tran so. V7.ll 9M1 71 SH 9630 

Utilities 5S74 5 559 5571 5554 

Finance 109.58 109 MI 10958 10972 


NYSE Diaries 


Dow Jones Bond Averages 


Sands 

utilities 

industrials 




Odd-Lot Trading in N.Y 


Standard & Poor's index 


AMEX Sales 


Bay Sows -aim 

April 17 207-250 450031 9.137 

April IS - — . HA. — 

April 15 255543 465J20 4562 

April 12 221738 426914 1795 

April II 232939 441 JOT 2-587 

-Included In the sales nan res 


Tables include the nationwide prices 
up tottie closing on Well Street and 
do not reflect late trades elsewhere. 

Via The Associated Press 


- Previous Today 

HM low daw 3 PM. 
industrials 202.76 28196 VOM 20145 

Transp. 153JJ4 15L7B 15220 15079 

Utilities 8179 SI -4B 8192 8UH 

Finance Z1JJ0 »8 21 JO 21 .01 

Composite wijn 181.14 18148 18084 


amex Stock Index 


4 PJYL volume 
prrv. 4 P94 volume 
Prow. eons, volume 


Previous 
Low Close 

230X7 231-«3 


New York Stocks Close Lower 


Compiled by Our Siaff From Dispatches 
NEW YORK — Prices on the New York 


Stock Exchange recreated Thursday after an 
earlv advance faded. Analysts said the positive 


lower, with 


early advance faded. Analysts said the positive 
implications of falling interest rates were offset 


by concern about a slowing economy. 

The Dow Jones average of 30 industrials, up 
3933 points over the past seven sessions, fell 
back 7.18 to 1,265.13. Declines outpaced ad- 
vances by about 6 to 5 on the New York Stock 
Exchange. 

Big Board volume totaled 100.64 million 
shares, up from 96.02 million in the previous 
session. 

The NYSE's composite index dropped .43 to 
104.86. 

After the market closed, the Federal Reserve 
reported that the basic measure of the money 
supply, M-l, fell $12 billion in the latest report- 
ing week. 

Before the opening, the government issued a 
p reliminar y report that the gross national prod- 
uct grew at a 13-percent annual rale, after 
adjustment for inflation, in the first quarter of 
the year. 

That marked a downward revision from the 
“flash” estimate given late last month of 2.1 
percent, and was taken as strong evidence that 
the economy had lost a good deal of its momen- 
tum. 

The news touched off a quick drop in interest 
rales. But brokers said it also raised doubts 
about prospects for economic growth and cor- 
porate earning s in the months ahead. 


Gannett, Tune Inc. and Tunes Mirror Corp. all 
off fractionally. 

Gould was near the top of the actives, and 
lower. A block of 13 million shares finished at 
22 . 

Unocal was also active, and off slightly. The 


company is battling a takeover bid from T. 
Boone Pickens, a Texas oflman. 

Tandy Corp. was off in active trading. It 
reported third-quarter net of 25 cents a snare 
compared to 60 cents a share in the year-ago 
quarter. 

Texas Instruments was faffing sharply after 
reporting a first-quarter net of 37 cents a share 
compared to $3.32 in the year-ago quarter. 

Other technology issues were also losing, with 
IBM, Digital Equipment, Data General, Cray 
Research, Motorola and National Semiconduc- 
tor all lower. 

AT&T was op a bit after posting a 56 percent 
jump in first-quarter earnings and filing with 
the Federal Communications Commission for 
reductions in long-distance rates. 

Among the companies trading lower after 
announcing earnings were Dow Chemical, Co* 
leco, American Broadcasting Cos. and Ralston 
Purina Co. 

On the Amcx, active issues included Echo- 
Bay Mines, Gulf Oil Canada and Wang Labora- 
tories class B. (AP, UPI) 


-3T*t 




To Our Readers 

Because of the seven-hour time difference 
between New York and Paris until April 27, 
some items in the Market Summary above are 
fram3PJVL New York time instead of the usual 
4 P.M. Also because of the time difference, 


some other items elsewhere in the Business 
Section are from the previous day’s trading. We 
regret the inconvenience, which is necessary to 
meet distribution requirements. 


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to the arcane realities 'StSSTSHHl ' ilTe thoughT’processes of the “Crowd- are 


^'^Lord^ofti^l&d^lhey represent the 'Power Hlite'’, not the 

“masses". "The public's deferential attitude towards Elitists Is the by-product or an 

by prestigious investment houses. They prefer to fracture toe ®22S52Sma535e 
brokers", of entrepreneurs, spawning future blue-ch ips. Have on 

in the “lay" press that articulates the machinations, the ploys, of the Specialists on 

S?fen°GENERAL E MOTORS was stalled at $37, C.G.R. mused... “G.M. is reeling 
terribly bad press: one would assume that the Detroit giant ' s .on the verge of 
bankruptcy. To the Public, the shares of G.M. and other depressed blue-chfps are as 
unwanted as Margaret Thatcher at an IRA rally". We recommended G.M. at $37, 
defying the "consensus". The shares subsequently raced to $85. 

Now, the same Media which castigated G.M. at $37 , is crammed with praise forth e 
company, articles that enable High Priests of Finance to dish out the ' r sh ar esto 
parishioners at heavenly profits. No sage isinfallible, buttruth is self-evident To guide 
clients, we attempt to decipher the Rosetta Stone of Elitists, an evolving tablet that 
reveals what the “Force" is contemplating. ... 

The Power Elite has initiated a massive distribution of equities that will propeitne 
DJI above 1500, with corollary upswings in secondary and emerging equities, 
capitalizing upon the teetthatwhen Americans and others infatuated with hope com® 
home at the “bumt-out end of a smoky day", they relish the thoughtof a largerslice of 
pie, modifying material goals with a belief, no matter how mute, in a gracious Goa. 

They maintain a sense of mission and pride, caressing the Possible Dream, notirje 
Impossible Dream even thoughtheinvincibilityof the West has been challenged.Tne 
concept of a better life, the revolution of rising expectations, is more relevant in 
fathoming the nuances of the market than the verbiage of reporters, most of whom 
lack the prescience to trace the tribulations of the Tape. Our current letter selects 

seasoned shares that may be Ingested at premium prices. 

In addition, we recommend a low-priced equ ity with the dynam ics to vault, as did a 
recently reviewed stock, a “special situation" that escalated 800%. 

For your complimentary copy please write to, ortelephone; 


R CAPITAL 

_ GAINS 


C.V.C. Capital Venture Consultants 
Amsterdam B.V. 

KalverstjaatTI2 

1012 PK Amsterdam, The Netherlands 
Phone: (020) 2751 81 Tetex:18536 


Address: 


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Ajgfl >9,1985 


WEEKEND 


Page 7 


A Russian Exile in Literary America 




•DlSlAc; 


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E 


by VassBy Aksyonov 

AST sommcx, on the way to our idyibc 
patch of Vermont, my wife and I 
turned off at Amherst, Massachu- 
setts, where I had been invited to 
take pan in a conference sponsored by the 
Theater Communications Group. Amherst's 
own iiS>*U was in full bloom — a large village 
green bordered bv chestnut trees and white 

S ruce, squat little buildings with shops on 
e ground floor, the church a nd hwH« of 

the collie. The hotd, where a room awaited 
us. was called the Lord Jeffery. Inn and 
reminded us of Straff ord-on-Avoo. 

We arrived toward evening. I turned on 
the television set. It was time for the news, 
and ! wondered whai they would say about 
the conference, which had been going on 
since morning. 

“Don’t hold your breath," my wife 
grumped. “You think a theater conference is 


sete^ 

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tah/enture Consultants^ *" 
rt 112 

ssawtasr* 


My wife takes a skeptical view of Ameri- 
can television, even though — or maybe 
because — she is an ardent follower of “Dal- 
las” and “Dynasty," series that for many 
, Soviet tengrls serve as an introduction to 
the language of Shakespeare. 

“I don’t know,” I demurred; **it*s not 
every day that Massachusetts is host to a 
conference of more than 300 delegates from 
200 American theaters, to say nothing of 
celebrities like the playwrights Arthur 
Miller, John Guarc, Dock Walcott and Jan- 
us Glowadd and the directors Zdda Fi- 
chandler, Peter Sellars, Tadashi Suzuki, U- 
viu Ciulei . . 

The screen lit up. There fallowed a pot- 
pourri of news items, but about the theater 
conference, not a word — not cm that news- 
cast or the next day’s. 


The lively and talented breed of American 
theater people had had to takes back seat. 
Where, on television, are the faces I saw at 
that seminar — faces full of thought, imagi- 
nation, humor? What (he country secs in- 
stead, day in .and day out, arc screenfuls of 
personable nonentities, whose chief effect is 
u> make one wonder if mediocrity and wood- 
cnncsG know any bounds. 

Someone — who? — had to lay down the 
unshakable aesthetic of commercial televi- 
sion. The director of the recent ministries 
“The Sun Also Rises" justifies the violence 
be did to Ernest Hemingway by churning he 
had to depart from the novel’s “impression- 
ism.” The impressionist approach, he says, 
does not work on television. But what in 
God’s name did he expect his work to say 
without the 14 impressionist approach”? 
That, if not for World War I, Jake and Brett 
would have lived happily ever after? An 
American classic is reduced to the level 
where we mistake an Estfe Lauder commer- 
cial for the next scene. 

The phony Soviet slogan “Art belongs to 
the people” has, in curious fashion, come 
true in America, since here it is the mass 
audience that lays out the cash and, ostensi- 
bly at least, plays the role oT customer. Yet 
what the customer orders is determined by 
whai is offered. Those who do the offering 
assume that people are “simple” and their 
concept of the simple often degenerates into 
the ample-minded. 

The response to “popular demand” is a 
response to a response. Mass culture and (he 
masses exercise a mutual influence on each 
other, in a kind of vicious circle, and which 
comes first is all but impossible to say. 

What happened to American avant- 
garde? A few years ago Paul Mazursky made 
a fine movie, “Tempest,” that had a touch of 


avant-garde romanticism to it — and that 
flopped at the box office. The “people,” it 
seems, did not go for its complexities. Ma- 
zurslcy’s next fllin, “Moscow on the Hod- 
son,” although a comedy, cleaved to the tried 
and true canons of soap opera, and was a 
box-office hit. What is a director to do when 
Academy Awards are often offered on the 
basis of box-office receipts? Zn the Moscow 
that is not on the Hudson, we used to call it 
not soap but, more crudely, “snot with syr- 
up.” 

T HE dampdown on the avant-garde 
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Aksyonov arriving in Paris in 1980 after leaving Russia. 


Dm AwaMtad fian 


America. From afar, from tne 
dom of socialist realism, we assumed that the 
avant-garde in the American cultural scene 
was a glittering, pulsating, cosmopolitan 
playground. From within, I see with mount- 
ing astonishment that, for all its gigantic 
scope, the American literary, theatrical and 
cinematic establishment has certain traits 
with a general store — preference for a hot 
item, fear of risk, and panic at (he very 
thought of experiment. 

Provincialism, of course, 15 not always a 
negative feature, especially in literature: 
Faulkner is even more provincial than Dos- 
toyevsky. Yet only now, living here, have I 
begun to grasp the degree to which American 
literature is American rather than interna- 
tional in essence. I see now that, back in 
Moscow, our view of it depended on a kind 
of mythology. 

Among the myths to which we were sub- 
ject was the wondrous myth of the Famous 
American Writer (Znamenity Amerikansky 
Pisa tel) — or ZAP, as we called him for 
short, fn Moscow, 1 was occasionally called 
upon to meet a visiting ZAP, and thought I 
learned bow to behave with them- My wife, 
less experienced in this department, still gets 
us in trouble occasionally. 

Recently a ZAP phoned us in Washing- 
ton. He gave ray wife his name and paused 
feu- the expected reaction. . 

“Would you spell that, please?” she said. 

The flabbergasted ZAP. who had not been 
asked to spell his name for 30 years, stam- 
mered out a reply. 

When 1 came home, my wife said: “You 
had a call from an American writer named 
. . . Here, see for yourself.” Her translitera- 
tion into Russian made it into something like 
Tutankhamen. 

At that point the phone rang. “Mr. — uh 
— Axolotl? This is . . ." The man gave his 
name, adding: “The American writer.” 

“What!" I cried, trying to make up for my 
wife's gaffe with a show of enthusiasm. “Is it 
you? Really you?” 

The ZAP gave a weary sigh of relief. “Yes, 
it’s me. 

At the dawn of my generation's literary 
weald — which so fortunately coincided with 
the corroding of Stalin’s Iron Curtain — five 
American writers captured our youthful 
imagination: Ernest Hemingway, William 
Faulkner, Scott Fitzgerald, John Dos Passos 
and John Stemfr«rfr We called them the 
Great American Five. 

I was able to meet only one of them. In the 
fall of 1963, Steinbeck armed up in Moscow, 
a living legend in an ample coat, its pockets 
seemingly bulging with essentials of a wan- 
dering ZAP — tobacco, whisky, wire for 
lightening up plots, tackle for hooking meta- 
phors. There be was, his big; face all wrinkled 
and spider-veined, a real giant of American 


ZOih-century literature: cosmopolitan, vaga- 
bond. Don Juan, drinker — in short, “almost 
Hemingway." Even the Moscow police 
vaguely mistook Steinbeck for “Papa 1 * — to 
his obvious annoyance. 

The American Ambassador, Foy D. Koh- 
ler, invited me (no doubt as a representative 
of the “new wave" of Soviet writers) to a 
lunch u Siembcck’s honor. The legend must 
have had a few by the time f arrived, for be 
greeted me with a clap on the back: “How’s 
writing going, Vassily?” 1 was thrilled. The 
hand of a ZAP! 

He fit his image perfectly, and talked 
wonderful nonsense all through lunch, 
alarming the diplomats and Alexei Surkov, 
secretary of the Soviet Writers Union. 
“Why," he demanded, "does a man have a 
belly button? Well, my friends, if you feel like 
a radish in the middle of the night, there isn’t 
a better salt dish made.” 

At a reception given by the magazine 
Yunost (Youth), he was in a different mood. 
Gloomy and sour, he tilted at the young 
writers present with a series of obscure ques- 
tions. “Do you realize that the woods are 
burning? Can’t you hear the twigs snapping, 
the wolves howung? Will you fight ‘ 



fight for your 
ack ( 


lives, or will you turn into a pack of mangy 
dogs yourselves?" Perhaps be was alluding to 
the crackdown on post- Stalinist an that the 
Communist Party bad conducted not long 
before. To us, the darkness of the woods did 
not seem particularly relevant to the holiday 
of our youth, which not even Nikita Khru- 
shchev could spoil. 

"Tell us about your meetings with Hem- 
ingway. Mr. Steinbeck!” He reD scornfully 
silent. 

During Lhe height oT (he Hemingway 
boom in Russia in the late 1950s and early 
1960s, Hemingway was the idol of Russian 
students and intellectuals of various ages 
and persuasions. Even the “interna Lional- 
ists" (read KGB agent) poking around Cuba 
and South America fell under his influence. 
When I saw Paris for the first time in 1963, 1 
Hun j it embellished not only by its thou- 
sand-year enchantment, but by the glimmer 
of those fleeting Americans of the 1920s, the 
roistering crew* of Lady Ashley’s admirers. 
At the far end of Boulevard du Montpar- 
nasse, where Marshal Ney*s statue pedes 
through the chestnut trees and the notes of a 
piano floaL over from the Goserie des Lilas, 
1 recalled whole passages of "The Sun Also 
Rises,” and the magic of that simple prose. 

The Hemingway cult arose in Russia be- 
cause the author’s lyric hero coincided with 
our idealized — and therefore false, though 
perhaps true in a certain astral sense — 
image of the American. The Hemingway 
hero epitomized whai wak so dramatically 
lacking in Russian society: personal courage, 
spontaneity, the willingness to take risks. 
Vladimir Nabokov once dismissed Heming- 
way as a “contemporary Guide Harold.” A 
good definition, as far as it goes, but we must 
remember what a striking impression Byron 
made on Russian society, especially the aris- 
tocratic youth. The poetic genius of Pushkin 
and Lermontov had its roots in a kind of 
provincial Byronism. The Decembrist rebel- 
lion of 1825 was Byronic in inspiration. 


I AM at a crowded literary reception in 
downtown Manhattan. There is some- 
thing of ancient Rome at these Ameri- 
can stand-up parties: Someone seems always 
to be lurking about with a pair of daggers 


Unfed pf«w latw i v aion d 

Hemingway, once a Russian cult figure. With his wife . Mary, in 1959. 


concealed in his toga. Where is Caesar? 
There be is, lhe author of something adver- 
tised as the crowning masterpiece of the age. 
Not many familiar faces, just one or two 1 
remember from their visits to Moscow. I'm 
in the heart of the .American literary’ establi- 
shment. 1 can fed iL AH those tall women. 
Tall beauties, young and old. The process of 
natural selection has been going on for quite 
a while. 

I suddenly realize, not without melan- 
choly, that I’m not particularly interested in 
contemporary American literature. Some of 
the nostalgia has evaporated. The cigarette 
smoke curling up from the tall women, the 
comfortably graying and balding heads of 
my American colleagues, the winking hun- 
dred-story pillars of finance across the street 
— a rueful moment; lhe ebb ude of a youth- 
ful joy. 

What has happened? Either Lhese people 
— and die ZAP image they personified — 
have changed sit ice the old Hemingway 
days, or they never were what they seemed to 
us from afar, or 1 have changed with squea- 
mish middle age, or the whole generation of 
Russian writers of which I am a pan has 
changed in outlook after the Marxist medi- 
cine we were forced to swallow. Gone is the 
sense of far-off spaces, of an open world. 
The aura of hazardous undertakings has 
moved over to the oppositional literature of 
Eastern Europe and the Soviet Union. 
Where can a contemporary writer find more 
vertiginious adventure than in literary exile. 

Yet if I have lost my special interest in 
American literature, I have by no means 
become indifferent to it. On the contrary, I 
am full of professional curiosity, and, as a 
member of the Authors Guild, I keep dose 
watch on what is now my own professional 
turf. 

My picture of the ZAP has changed oddly 
under the magnifying glass of American life. 
All writers everywhere are preoccupied with 
creating and preserving a public image. In 
the Soviet Union, the socialist-realist poet 
Sergei Ostrovoy, author of the immortal line, 
“In Russia was I bora, a mother bore me," 
will under no circumstances remove his thick 
glasses. “The people know me in these glass- 


es,” be explains. My ZAP, in his incarnation, 
is also concerned with image. He will not 
grow a beard; or — if bearded when first 
recognized by critics he will not shave. He 
damps un lighted agar between his teeth, 
even if he has come to hate it. He lives like a 
hermit if he has acquired the reputation of 
being one. 

He is still the public’s darling, your ZAP: a 
bit of spoiled brat, the most charming of 
myths, and a stock figure in American nov- 
els. A surprising number of fictional charac- 
ters in current American literature are au- 
thors. The beginning writer writes a novel 
about a beginning writer. His first success 
engenders a book about first success. Disillu- 
sioned with the lure of fame, he writes about 
writer’s disillusionment. The advent of do- 
mestic disorders, betrayals and adulteries 
produce a novel about a writer’s betrayals, 
adulteries, divorces. The temptation is great, 
I know from experience. Every morning, 
sitting at my desk with a view of Washing- 
ton’s rooftops before me, 1 am tempted to 
write: V. Axel oil, a writer in exBe, sat down 
at his desk and looked over the roofs of 
Washington.” 1 restrain my narcissism: 
Mustn't set a bad example for the young 

The first commandment for a writer is not 
to write about himself. Yet today the young 
American writer looks at his older confreres 
and sees them all writing about their hemor- 
rhoids. Then why can't he? And so die pages 
of even the better magazines are fUlea with 
practically indistinguishable short stories, 
constructed along the following lines: 

“Seated on her porch of a September even 
ning, Sheila waited for her dinner guests. She 
was a slender 120 pounds and boasted a full 
head of chestnut-colored hair, a pair [sic] of 
blue eyes, and hazel-brown skin, which at 
that moment was bathed in the glow of the 
setting sun. Calmly and sadly she mused 
about her literary successes and the short- 
comings of her sex life. 

“Her first book of short stories had recent- 
ly led to a sizable grant from the National 
Endowment for the Arts, yet Bruce, who had 
just left her, slept with her no more than 

Continued on page 8 


On the Role of Race in Opera 


by Donal Henahan 


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EW YORK — One of the bright- 
est pages in Metropolitan Opera 
history was written on Jan. 7. 
1955, when Marian Anderson be- 
came the first black singer to appear with the 
company. It must be hard for this generation 
to comprehend that only 30 years ago the 
Metropolitan, like many another U. S. insti- 
tution. bad an unspoken rule a gainst admit- 
ting blacks. When the Bing administration 
engaged her to sing the role of Ulrica in “A 
Masked Ball," Anderson was three weeks 
short of tber 53d birthday and wdl beyond 
her vocal prime, but her appearance on the 
Met stage was more than an operatic event; 
it was a symbol of a new social freedom that 
seemed to be stirring in this country. 

And yet, bow eccentrically the whed of 
progress turns. This season, in the Metropol- 
itan's 10 1st year, a production was mounted 
in which stringent racial restrictions were 
imposed, this time is favor of black artists. I 
refer to “Porgy and Bess,” which in accor- 
dance with the Gershwin family’s directions, 
was required to employ blacks in every role 
except for that of a redneck coroner and a 
couple of his non singing thugs. The Metro- 
plitan’s legal department repents that the 
contract signed with the Gershwin family, 
which still controls “Porgy” under copyright 
law, stipulates that blacks must be used in 
any production. Either that, or no “Porgy.” 

What we have here is not a simple black or 
white issue. Itiseasy to agree that the Gersh- 
win family's insistence on a black cast makes 
sense dramatically, and even delivers a social 
statement. Perhaps the specter of Al Jolson 
playing Porgy in blackface, as he desperately 
wanted to do in the 1930s, has continued to 
haunt George Gershwin's heirs. An all-black 
“Porgy” is defensible from every musical 
and dramtatic standpoint Understood? 

But a legal agreement at the Metropolitan, 
even one so benignly intended, involving 
race? That is hard to countenance. After a It 
the argument for blades in this case is not 
intrinsically different from an older argu- 
ment in opera against them. Dramatic plau- 
sibility was regularly thrown tip as an argu- 
ment against black casting in the bad old 
days, who could possibly bdieve, say, in a 
black Ariadne in ^Ariadne auf Naxos or in 
a black Rosina in “The Barber of Seville"? 
Imagine how out of place a black Amfortas 
would look in an otherwise blanched “Pana- 
WeU, we have gone well beyond such 
arguments in the 30 years since Marian An- 
derson's debut. Audiences not only tolerate 
but adulate Jessye Norman as Ariadne, 
Kathleen Battle as Rosina and Simon Estes 
as Amfortas. Grace Bumbry’s Hack Venus 


at Bayreuth stirred controversy 24 years ago; 
today it would not raise an eyebrow. 

And yet, someone is sure to protest, do 
you really want whites parading as blacks in 
“Porgy”? No, certainly not in the leading 
roles. But that should be a choice avabilable 
to casting departments, not a legally binding 
restriction. Let’s take the issue to ridiculous 
extremes to illustrate the Mint. Should the 
villainous Monas tatos in “the Magic Flute” 
always be, by fiat, a black? Hardly, and we 
may be thankful that the Mozart estate did 
not so specify. Blacks would surely protest, 
understandably, at being identified with this 
caricature of a human. In fact, blacks have 
been known to protest over Monastatos 
when he is played by a white singer. Bui a 
black should not be denied the right to sing 
Monastatos if the part is offered to him. 

In the same vein, what about the dual role 
of the Painter/Negro in “Lulu," which pre- 
sen is even more difficult choices? Should the 
singer be an acuta! black who plays a white- 
face painter in the first act and himself in the 
bloody final scene? Or a white who switches 
to blackface? Or perhaps even a black man 
throughout? No matter whai Berg or his 
family might have thought, it would not do 
to bind posterity to their wishes forever. 

Other than “Porgy,” perhaps the most 
celebrated case of restrictive casting was 
Virgil Thomson’s “Four Saints in Three 
Acts,” produced with an all-black cast in 
1934 because the composer preferred it that 
way at the rime. However, in a 1973 revival 
by the short -lived Mini-Met both black and 
white singers were used. Nothing in the score 
insists on a color preference (although it is 


i>pain 

staged effective!: 
cast of New 


nvely 

ZeaJx 


some day with an entire 
and ers or Martians. 


O 


PERAGOERS in the 19th century 
I certainly would have thought it un- 
reasonable and eccentric of Verdi if 
he had specified that Aida, Amonasro and 
the other captive Ethiopians were to be por- 
trayed by genuine blacks. The Ethiopians in 
“Aida” are amply Italians in makeup, as is 
his Othello. The challenge for a black singer 
in those roles, as for a white one, is to sing 
and act in a plausibly lialiaratc way. 

Until quite recently Aida was invariaHy 
sung by white sopranos, with a little help 
from the makeup department. Verdi con- 
ceived it as a blackface role and it is still sun; 
that way for the most part, even lhou^ 
many blade Aidas also have found the part 
congenial. The black option was not open in 
previous generations, however. When the 
Metropolitan produced Louis Gruenbcrg’s 
“Emperor Joiies” in 1933, two years before 
“Porgy”- reached Broadway, the part of the 
Pullman porter turned king of a Caribbean 


island was assigned to Lawrence Tibbett. 
Paul Robeson, then in his prime as a singer 
and had acted the part in the O’Neill play, 
might have been a more plausible choice. 
Robeson, who also sang Porgy and played 
Shakespeare's OtheQo on the stage, should 
have been a natural for the Mel in those 
days. However, hardly anyone involved with 
the arts thought that way until well after 
World War IL Even baseball struck down 
the race hairier in 1947, long before the 
Metropolitan got around to it. what made it 
all offical was the Gvil Rights Act of 1964, 
prohibiting discrimination in employment 
on the baas of race, oolor, religion, sex or 
national origin. That act does not, so far as I 
know, exempt opera from its strictures. It 
does not have a “Porgy” clause. 

P ERHAPS the Met’s casting in this 
instance falls under (he category of 
affirmative action. Still, it might es- 
tablish a tricky precedent Are we heading 
into a time when composers or publishers 
will be able to dictate casting basea on race, 
sex or nationality? Might not it seem plausi- 
ble to insist on an all-American or an all- 
British cast in certain instances? No doubt 
the Met went alone with the Gershwin fam- 
ily's requirements because they made good 
artistic sense, but where does that road lead? 

That this issue has ramifications beyond 
the Metropolitan was impressed upon me 
recently by a letter from a well-known au- 
thority on opera who asked not to be identi- 
fied. He had. noticed an exchange in a letters 
column between black and white musicians 
who took sides on whether whites should 
have been hired to play the sound-track for 
the movie “Cotton Club." What struck him 
was the contention by some musicians, both 
black and white; that music was instrinsical- 
ly an expression of race or ethnicity and 
could not be interpreted properly by an 
outsider. This debate, an old and abrasive 
one in jazz and pop-music circles, has eco- 
nomic resonances as well as the supposedly 
racial ones. 

What is interesting about the racial music 
argument, however, is how ambiguously it 
would apply to “Porgy and Bess.” a work 
based on European operatic models by a 
Manhattan Jew with temperamental affini- 
ties for Hack music taut no direct connection 
to its sources. Following this logic, “Porgy” 
would have to be considered white music 
that tells a black story, hardly different in 
form and artistic aim from “Aida," But bow 
does that assessment square with a legal 
restriction against whiles in Gershwin's op- 
era? It is an issue that deserves to be ventilat- 
ed in public. ■ 

OIVBSThet/ew York Trnts 


Busy in the Dream Business 


by George Gudauskas 


P ARIS — For Arielle Dombasle, the 
French film actress who co-stars in 
the U. S. television series “Lace," 
being a performer is akin to being ill 
and movies are like mysterious night dreams. 

“They strike the unconscious,” she said 
recently. “You are overwhelmed by an im- 
age, and it wQl move a lot of feelings inside 

J rou, It’s very mysterious, and that's why I 
ove movies most of alL" 

Indeed, she not only acts in them, she 
writes for them and directs them too. 

“We have a short life," said Dombasle — 
who will be 30 on April 27 — during a brief 
slop at her home here, “and you must apply 
yourself and make an effort never to betray 
the fidd where you think you are creative.” 

For Dombasle this fidd obviously is film, 
and she is captivating American audiences in 
“Lace," a steamy story about beautiful wom- 
en in the jet set! 

But it was her performance in “Pauline at 
the Beach” that brought her international 
attention. In it she played a beautiful fashion 
designer divorcing her devoted husband and 
seeking a new love, one “that burns.” 

Dombasle’s latest film is due to be fin- 
ished this year. For it, she wrote the script, is 
playing a minor role, and is directing. Bul 
her first directing job was not in films, bul on 
stage — when she was 13. 

Then in Mexico, where her grandfather 
was French ambassador, Dombasle convert- 
ed a chapel into a theater and performed for 
family and friends. She was taken to Mexico 
by her parents from Connecticut just after 
she was bora. Sic lived for 18 years in 
Mexico, where she attended French-Ian- 
guage school but was deeply affected by 
Mexican culture. 

Dombasle's Mexican nanny ignited her 
interest in “real” drama, the soap operas on 
afternoon radio, full of vigor and passion. 

“We cried every day,” she recalls, “and we 
wanted to know what going to happen.” She 
sees “Lace" as having qualities — “a very 
popular, trashy, glamorous film" — similar 
to soap operas. 

“They really have an inner seduction 
. . . because every woman dreams of pas- 
sion and of all those romantic stories — that 
you meet someone all of a sudden that you 
adore, and then you can't love him. You 
know all those stories. Women adore that. 

“I think they are exactly the same patterns 
as in ’Lace,’ and those trashy sorts of things 
(hat everyone criticizes but. everyone watches 
with such an avidity and pleasure." 

Dreams thrill in a way, too, and Dombasle 
feds a dream is what an actress like her owes 
her audience. 

U I think it's the most important part of 


your life, and why movies have such attrac- 
tion is because I think they're very dose to 
dreams — to night dreams.” 

Her 1982 film “Cross Currents." in which 
she chose to play an minor role, was her first 
major directing effort. In her latest film, “La 
Novice,” she alsoplays in interesting but 
minor role, a nun. The major roles are played 
by two men. 

“It’s easy for me to write for men,” she 
explained, “because I can allow myself so 
much more. It's less revealing.” 

But, .with all her work — she is also a 
classical singer — Dombasle feels she may 
be doing too much. 

Tm afraid 1 will scare people and some 
directors will say, ‘We won’t take her, she 
directs her own films.’ " 

“I will hate that,” she said, “because it’s a 
very different pleasure — it's nearly a sensu- 
ous pleasure — to be directed. It’s as if you 
are all day. 

“AH actresses have that dream of being 
asked by the biggest directors. It's like a 
passionate relationship — to be chosen by a 
director. It’s extraordinary,” she said. “Why 
be thinks you're the only one who could play 
the role.” 

Bui an acting life is not a happy life, she 
says; it is full of pain and confusion because 
acting and real life influence each other. 


“You generally say that you’ll have a feel- 
ing, and then you express it. Bul expressing 
it, you feel it at the same time. It’s feedback. 
And, if you really want to play very wdl 
someone that’s in great pain, you feel the 
pain!” 

While response to her role in “Lace” 
pleased her, it also sharpened another feeling 
that she said all actors share: the need for 
constant attention. 

“It’s like a sickness, because I've never met 
any happy actresses. You’re always on the 
edge of discomfort and vulnerability and 
insecurity. It’s like being a Christian and 
throwing yourself in the arena with lions. 

“Youknow, many, many actors are miser- 
able, and they still want to be actors. They 
can’t imagine their lives without acting — 
without being someone else. I consider it a 
sickness that you don't want to be cured of.” 

Asked whether she considered herself a 
“star,” she questioned the image and wheth- 
er she would qualify. 

“I consider myself more like a comet 
crossing the sky,” she said. 

“We pass too quickly to be stars.” ■ 


George Gudauskas is a journalist based in 
Paris. He has written on a variety of topics in 
France. 



Arielle Dombasle. 


<Cpflri r * ued 



Page 8 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, APRIL 19, 1985 



A Russian Exile in Literary America 


Continued from page 7 


twice a year during the Bve years they spent 
together — 10 times, all told. Other people 
slept together 10 tunes at one go, and every 
day at that, which came to 3,650 times a year, 
or 18,250 rimes in five years. What was the 
cause, she wondered, of our curious non- 
achievement? 

“The guest arrived in an oid Volkswagen 
— Sheila’s old college friend Jean, [a second 
Sheila, no doubt] and Jean's boyfriend Gor- 
don [a third Sheila], Just looking at them, 
Sheila could tell they enjoyed a super-abun- 
dant sex life, dose to her mathematical cal- 
culations. 

“The three of them made a §reen salad 
and had some of it for dinner. That night 
Gordon came to Sheila and awakened the 
woman in her.’' 

(This turn in the plot can take a number of 
variations.) 

“Next morning, they had the rest of the 
sa lad and talked about their literary affairs. 
Sheila recounted the plot of her current work 
about a woman writer; Jean told of the grant 


met at international conferences. We strike 
up a conversation, and he complains to me 
about censorship. 


“Yes sir — censorship. You think only 
” >? Do you know that 


Russia has censorship? 
the other day a school board in Missouri 
ordered all my books off the library shelves? 
It seems they’re unhappy about some four- 
letter words and some of my characters* 
shenanigans. Bigotry is back, 1 tell you — it's 
McCartnyism all over again. And in the 
Soviet Union my books are translated and 
published.” 

I scratch my head. “I think, sir ” I say, “I 


know how to solve your problem in Missou- 
ri. Have your books 


she was promised by the National Endow- 
‘ of her new book of verse; 


meat as a result 

Gordon spoke of his mighty exertions in 
Hollywood!” 


A cer tain shifting in the crowd at the 
Manhattan reception — a little dis- 
tance from Caesar, a wider berth for 
Brutus — and I find myself next to a familiar 
face, a ZAP I have read in translation and 


retranslated into En- 
glish from the Russian version. I guarantee 
.that the school board will find nothing in 
them to object to.” 

He gives me a somewhat embarrassed 
look. “Sorry, VassHy. I guess it was a little 
unbecoming of me to talk to you about 
censorship.” 

At a college lecture one day, a student 
asked me: Are the leading American writers 
known in the Soviet Union? I cautiously 
responded with a question of my own: 
Which writers did he have in mind? The 
student reeled off some names from the best- 
seller list. What could I say? They were 
practically unknown to the Russian reading 
public. I myself had never heard of them 
until I came here. Yet these writers are the 
ones who, wtHy-nQly, do most to form popu- 
lar taste in current American literature. 


The reading public in Russia knows an- 
other American literature. Russian transla- 
tors, to give them their due, choose books for 
seriousness, not their sales. Of course, in 
these cases where ideology becomes an unsu- 
perable impediment, the translator may not 
only smooth down the author’s hair but 
gouge out bits of his flesh. Still, thanks to the 
generally high level of Soviet translations, 
Soviet readers in the last 25 years have be- 
come f amiliar with a long list of brilliant 
American n a m es. 

In the United States, meanwhile, the line 
between serious and popular literature has, 
to all intents and purposes, disappeared. 
Sometimes a serious writer win make the 
best-seller list; sometimes a glib habitul of 
that golden circle will tackle a difficult sub- 
ject. By and large, however, matching litera- 
ture to a column of sales figures produces 
not only a reign of bad taste, but a specific 
type of writer. 

I once met a novelist who, when asked 
what kind of books he wrote, replied with a 
tingle word: Bat sellers.” 

“Unfortunately,” he added, “they don’t 
selL” 

Literary back work bears a certain resem- 
blance to ideological hack work. On a televi- 
sion talk show one ev ening , I heard a woman 
novelist reveal her trade secrets. Before start- 
ing on a new work, she said, she made a 
careful study of what was in demand. “A 
writer,” she raised a pretty finger, “must 
know the literary market.” 1 have no trouble 


picturing the lady as a member of the Soviet 
Writers Union. She had caught the right- 
minded tone: A writer must study the latest 
party documents and keep up with party 
resolutions on literary issues. 

In its own way, the American guild of 
best-s elling authors is reminiscent of the 
Soviet party nomenklatura — the top reaches 
of the bureaucracy. It may be hard to join, 
but it is nearly impossible to drop out Often 
a book will become a best setter amply 
because it is written by a best-se ll i n g author. 
Readers trust such names figuring that they 
are investing in agoing concern: Tnc authors 
try to uphold their trademark. A kind of 
mnmgntiim builds up. Even serious litera- 
ture may be taken over. When that happens, 
goodbye experimentation. 


AS J sec it, this commercial momentum is 
l\ largely to blame for the country’s 
XX lade of interest in foreign writers. As 
a book seller once said to me, “when (he 
general reader leafs through a new book and 
comes up against ‘difficult’ foreign names, 
be. automatically puts it down.” Odd, in a 
country where half of the population con- 
sists of John Dombroviches and Jane Gio- 
vannellis. In Russia, I might note, the situa- 
tion is reversed: Foreign names intrigue the 
reader. 

It is also curious for me to see that literary 
criticism in America has little effect on book 
sales. Rarely mil the solid weeklies ran a 



can, to American writing as a wboltTo 
some extent. I myself am now apart of this 
literature, a literature in which the Yoknapa- 
tawpha mule still flicks its tail, Spanish 
bridges stitt explode in the air, the jazz of the 
heat generation pounds on, and the wound- 
ed centaur of New England hobbles along 
his way. Whether American literature suffers 
or gains from its cohabitation with the dollar 
is an open question. Alas, mankind has yet to 
invent a system of relationships more natu- 
ral than money. What Karl Mart proposed 
turns out to be an attempt to reinstate the 







- t 


'tti 



\: 


Steinbeck, an authentic ZAP. 


review of the latest blockbuster — and, if 
they do, the critic will mutter something 
condes cending through his teeth. But your 
best-selling author has no great need for 
good reviews: He has made the list. 

In concluding these wayward observa- 
tions. I want to make obeisance, insofar as I 


Mark's bids us to read; his daws bid us to 

write. , . . 

In 1975, after a two-month visit to the 
United States, I wrote my first book about' 
America, “Day and Night Nonstop " There 
was hardly anything critical in it: I either 
failed to do. or didn’t want id, notice any 
shadows. My tourist enthusiasm was, of 
course, a reaction to homegrown anger, a 
response to the stupid official ami- Amen-. 
amism of my Soviet chiefs. 1 saved all my 
criticism in those days for my own native 
land, losing it thereby in the end. Now, four 
years into my new American life, I am writ- 
ing a second book about America. This time 
I see not only bright windows but the mil- 
dewed corners of my new house. I hope this 
tim e I won’t be thrown out. ■ 


* 

- -V 


A' 


Vassily Aksyonov . who was exiled from 
Russia in 19S0, lives in Washington. His lates t 
novel to be published in the United States is 
“ The Bum He wrote this article for The New 
York Times Magazine. It was translated by * 
Michael Henry Heim. 


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LE BYBLOS - la CHadaEa 

Td (94) 9730L04 - Tdre 470235 

JUAMfSftNS - 06160 

VB 4 CE - 06140 

HOTEL BHJJ5-RIVE5 

DOMAKSUMARTM 

T*L (93) 61J0279-Tahx470»4 

Td (93) 5a02jQ2 -Tdw 470282 


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Photo atk for our brochure and prices. 

Write to Mr. N. Tear - Director 
CUNK VALMONT, 1823 OHoo-sur-MontreuK, Sort txericaid 


Telephones 021 /A349 51 (TO 


it - Tele so 453 1 57 valrnt-ch 


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Luxury rating 14 nights from p.p. 


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£268 

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Special pried for iccMaeoddloa only available on request. 

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or 01-499 1911 or 1912 
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MEOIVI 


ABTA ATOL 016 1ATA AITO 


50 Years ago. 


Germany’s First TV Sensation. 
The Teiefunken 5, FE 3” 


In March 1935 the wortefs first public television service was inaugu- 
rated by the Berlin Radio Station. The transmitter was built by Teiefunken. 
And the first TV set attraction was called Teiefunken ’FE3’. 




Today. 


The best selling TV in Germany 
is a colour set from Teiefunken. 


The success of Teiefunken is based on: • Fascinating Stereo and 
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Teiefunken Colour TV sets are available with teletext and in ail 
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and all other Teiefunken Colour 
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Audio and HIR Equipment GERMANY AT ITS BEST 


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SHOPPING 


Spring is at your wbuUne 

offer your garden 
a Parisian glow 

UEJAKMISABfT-PAUI 


is a true Paradise for those who 
love fountains, lanterns, old Pari- 
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furniture (Triconfort, Hugonnet_) 
Worldwide delivery * 


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(In Le Marais) (1) 27&0&89 


TRAVEL 


SOME CHILDREN WILL MAKE 
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Choose from 30 Activity frofidoy centre* 
and from) lsi £E 2 you wool find abetter 
way lor your children toenjoy adventure 
and challenge in a framework df aatafy 
and tunl Introduce them to salting, 
riding, canoeing, archery, trial bikes and 
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(C> Station Street 
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Tel. PARIS: (1)742 4989 


HOTELS 


ITALY 

ROME 


M 8 DKNTIAL AREA 

Lovely ylmt i by day, by weefc or 
by m onth. Direct phone, autonomous 
heating, bar, restaurant, garage, 
24 hour service. 

RESIDENCE 

CORTINA D’AMPEZZO . 

L (39-6) 3387012 - 3387015. _1 


|AN TWERP, ELsaberhraal (id: 237. 

NCERT — April 23: Belgian Na- 
tional Orchestra, Mendi Roaan con- 
ductor, Mstislav Rostropoviicb cello 
(Beethoven, Haydn). 

BRUSSELS. Opdra National (tel: 

J217.22.ll). 

lOPERA — April 21: “Tristan und 
holde" (Wagner). 

•Palaisdes Beaux Arts(fd: 51 1.29.95). 



GRAND HOTEL 
SONNENBICHL 


GoBrntisch-Ptartenldrcften 

Germany 

The only Grand Hotel 
In Upper-Bavaria 
Totally ronavated in 198* 


TeL: (0)8821-7020 
Cable: 05-9 


05-9632 
Hesj Utcfl International + Steigenbergcr 


Ret. Service 


SPAIN 



GRAN HOVEL SARR1A 

BARCELONA 

314 roams 


first dais 


Ada. Sarrtt. 50, 08029 Barcelona 
■feL (93) 239 11 09 
'felec 51033 v 5)638 GHS8E 
Cable: GRANHOTB. 



HOTBL CHAMARTBS 
MADOD 
378 rooms. 
Business fadHes. 
first dare. 


fetatidn charrort&i. 28DT6 Madrid 
Td&fll) 73371 11-73390H 
Tetec 49201 HCHME 
QMgJNTyfjSA 


nuumm 

ADMIRAL HOTEL =n 

MANILA 

2138 Boxes BhrdL Mcnifo Phils. 
P,O.Box7155MlA3120PhSpphm 
Tdtuo 74240488 ADHotot PM. 

Cable: Admftel Manila 
Telephone*. 57 20 81 To 94 


4» 


INTERNATIONAL DATEBOOK 




VIENNA. Konzerthaus(td:72. 12.1 1). 
CONCERTS — April 23: Hagen 
Quartet, Alfred Print clarinctte(Dvo- 
rak. Mozart). 

April 26: ORF Symphony Orchestra, 
Michael Giden conductor (Bach. Ja- 
naedt). 

RECITALS — April 21: Margaret 
Price soprano, Norman Shetler piano 
(Brahms, Rachmaninov). 

April 24: Nathan Mrbiein violin 
(Bach). 

April 2S and 26: John Williams guitar 
(Albeniz, Bach). 

•Mus&Vv'rdn (tel: 65.81.90). 
CONCERTS — April20and2I: Vien- 
na Philharmonic, Andre Previn con- 
ductor (Debussy, Ravd). St. Louis 
Symphony Orchestra, Leonard Slat- 
Ion conductor. Emanuel Ax piano 

(Bern stem. Mozart). 

April 24 and 25: Vienna Symphony, 
Zdenefc Macal conductor (Smetana). 
RECITALS — April 25: Irena Baibag- 
Drexler piano (Beethoven, Chopin). 


•Centre Georges Pompidou (tel: 
277.1233). 

EXHIBITION —To April 27 : “Archi- 
tectural Trends.” 

To May 10: “Image and Science.” 
•Espace Cardin (td: 266.17 JO). 
EXHIBITION— To May 12: “Sho- 


eProjecls Art Centre (id: 71.33.27). 
EXHIBITION — - To May 3: “Lys 
Hansen.” 

THEATER — To May 9: “Victory 
(Howard Barker). . 

•Tavlor Gallery (tel: 77.60.89). 
EXHIBITION — Through Aprifc 


gun. 


•La Maisondes Sciences desrHomme 

(54438.49). 

EXHIBITION — To April 27: “Mi- 
chael O’Dwyer," photographs. 
•Muste du Louvre (td: 2 603926). 
EXHIBITION —To May 6: “French 

w- 4 .1. Virtti n 


“Louis le Brocquy. 

tilery erf 
71.46.54). 


LIVID lb UIUIAJUT. 

•The Gallery of Photography (td: 


EXHIBITION— To April 30: “Views 
from Ulster,” “Roseanne Lynch.” 


Engravers from ibeXVtn Century.” 
•Muster 


sdu Petit Palaisdd: 742.03.47). 
EXHIBITION— To June 30: “James 
Tissot: 1836-1902.” 

•Optra (td: 742J7 JO). 

OPERA — April 20 and 23: Alcesie 
(Gluck): 

ril22: “Wozzedc” (Berg). 


ITALY 


BOLOGNA Galleria d’Arte Mo- r 


dema (td: S0.2S.59). 


-i-J 


April 22: “Wozzeck (Berg). 
•SattcPlevd (563.07.96). 

CONCERT — April 26: Orchestra 


ON— To May 20: “Tullio 
Pericoli,” “Roberto Band.” 

•Teatro Comunale (tel: 22.29.99). 
CONCERTS— April 20 and 21: Mi- 


April 26: JOrg Dan us piano (Bub j. 
•Scaatsoperlld: 53240). 

LET — April 22 and 26: 


Dot 


BALI 
Quixote”. 

OPERA— April 21 : “Aida” (Verdi). 
April 24: “LaTraviata” (Verdi). 

April 25: “The Flying Dutchman” 
(Wagner). 

•Volksoper (tel: 53240). 

OPERA — April 22 and 25: “The Ab- 
duction from the Seraglio” (Mozart). - 
April 23: “11 Barbieredi Siviglia” (Ros- 
sini). 

OPERETTA — April 20 and 26: “The 
Beggar Student” (MiDOcker). 

April 21: “The Land of Smiles” (Le- 
hir). 


National de France. Colin Davis con- 
ductor (Berlioz). 

•Tht&tre dcs Cinq Diamants 
(285.47.27). 

CONCERT — To May 5: Florence 
Cam&rroque. 

►Thfcfttre Musical de Paris (tel: 


chad Jjuig conductor. Trio di Trieste 
mi, Strauss). 


261.19.83); 

BALLET— 


April 20. 21, 23-28:MaiU 
rice Bqan 20th Century Ballet “Le 
Coocours.” • . 


GERMANY 


BERLIN. Deutsche Oper (tel: 
341,44.49). 

OPERA . — April . 22: “Ariadne auf. 


Naxos” (Strauss). 

:(tet; 


BELGIUM 


•Philharmonic (td: 545 80). 
CONCERT— April 21: Berlin Ora- 
torio Choir. GcrtScO conductor (Mm- 
ddssohn). 

•Schloss Cbarlottenburg (tel: 


300.53.95). 

htton — 


(Busoni,! 

GENOA, Teatro Margherita (tel: 

58.93.29). 

OPERA — April 26: “Andrea Chfc- 
nier” (Giordano). 

MILAN, Padi shone d’Arte Coniem- 
poranea(td: 78.46.88). 

EXH3BITIONS — To April 28: “Afra 
and Tobia Scarpa: architects and de- 
signers.” “The Imag inary and the 
Real: Paolo De Poll, Candidi Fior, 

ToniZuocheri" 

TURIN, Royal Palace(ld: 839.88.02). 
EXHIBITION— To May 22: “Court- 
ly Life in Rajas than Seen Through In- 
dian Miniature Paintings from l£e 17-6 V ,22-:.-.- . - • 
19 Centuries.” * 

•Teatro Redo (td: 54.80.00). 

OPERA— April 20,21,23,24: ‘The 
Bartered Bride" (Smetana). 

VENICE, Ca’ Vendramin Caleigi (td 
70.99.09). 

EXHIBITION —To May 19; “Figu- 
rative Japanese An: 1873-1964.” 




- « 
•i \ 

: “ &r. 

■ :a« 


X.'t 

‘’Ini! 




To May 25: “An- 


CONCERT— April 24: Betoan Na- 
a. Mendi Rodan c 


uooal Orchestra. Mendi Rodan con- 
ductor. Mstislav Rosiropovitch, cello 
(Berlioz, Schumann). 

UEGE,Thfeatre Royal (tel: 23J59.10). 
OPERA — April 20: “Le Nozze di Fi- 
garo” (Mozart). 


EXHIBl 
toine Watteau.” 

COLOGNE, 

•Oper der Stadt (td: 2125.81). 
OPERA — April 21: “Lohengrin" 
(Wagner). 

Apra 24 and 26: “Carmen" (Bizet). 
April 25 : “Madama Butterfly” (Puoci- 
ni)- 

FRANKFURT, Cafe Theater (td: 
77.74.66). 

THEATER — Through April: The 
Mousetrap” (Christie). 
HAMBURG. Staatsoper (tel: 
35.15.55). 

BALLET — April 20 and 21 : “Mah- 
ler’ s 6th Symphony” (Neumder, Mah- 
ler). 

OPERA — April 23: "Don Caiios” 
(Verdi).. 

MUNICH. G&rtneiplaa State The- 




JAPAN 




LONDON, Barbican Centre (tel: 
628.87.95). 


ater (tel: 201.67.67). 
ERETTA — 


OP! 

Beggar Student 


-April 24 and 26: The 
"(Mil 


Ifllflcker). 


2,; Biropcan 


Chamber Orchestra, Alexander « 

n.i ,'u. i. Vi ri, 


Schneider conductor (Haydn, Mo- 
zart). 


April 23: Scottish National Orchestra, 
NectneJa 


igaro 

April20and26 
(K. Strauss). 


— April 22 and 25: “Le Nozze 
"(Moza 


zart). 

: “Der 


Rosenkavalier” 


TOKYO, Azabu Museum (tel: 
582.14.10). 

EXHIBITION— To April 28: “Mas- 
terpieces Of Ukiyo-E P ainting ' r 
•Idemitsu Ait dallery(tel: 2133128). 
EXHIBITION — To June 2: “Land of 
Civilizations, Turkey." 

•Japan Folk Craft Museum (td: 
467.4527). 

EXHIBITION —To June 23: “Craf U-, 
of North Eastern Districts." 

•National Musum of Modem Art (td: 
214.25.61). 

EXHIBITION — 

Mtmakata.” 

•Riccar Art Museum (tel: 57132^4). 
EXHIBITION — -To April 29: “Scenic 
Spots in Edo - Ando Hiroshige." 
•Sdbu Museum (tel: 981.01.1 1). 
EXHIBITION — To May 12: “Leo- 
nardo da Vinci Nature Studies.” 
•Tobacco and Salt Museum (let 


I 


;r- 




•To May 6: “Shiko 


V 




or. Birgit J 
soprano (Beethoven, Dvorak). 

April 24: English Chamber Orchestra, 
Yehudi Menuhin conductor (Bach). 


476.20.41). 

8IT10N — TojViay 6: “Japan a 


GREECE 


April 25: London Symphony Orches- 
e Glover conductor. Imogen 


tra, Jane 
Cooper piano 


^.oopCT Diano iDcoaovea, r ou^u Q. Gallery (td: 67 1.72.66). 

April 26: London Concert Ordiestira, EXHIBITION — April 22-May 19: 
Bramwdl Tovcy conductor, John Og- ToniaNitolaidou.” 

don piano (Rachmaninov. Tchaikov- ■ 

sky). _ 

Barbicao Theatre — Royal Shake- “Boats: Anastasia YlaniWi 
s^areCorayiaiiy — April 25-May 1: * - 

•London Coliseum (td: 836.01. 1 1). 


ATHENS, Aithousa Tehnisftyducoa 
Gallery (td: 671.72.6 6). 


EXHIBl _ 

Hundred Years Ago.* 

•Yamatane Museum (td: 669. 4056). 
EXHIBITION — To May 10: “Con- 
temporary Japanese Painting.” 


* “r 


£* c- 


SPAIN 


•Center for Folk An and Tradition 
(tel: 32439.87). 

„ - _ _ EXHIBITION — To May: “Folk Art 

OPERA— April 23 and 26: “Die Bar- and Tradition of ThraS ^ 
tered Bride” (Smetana). _ ■ t 


•R^al Academy of Arts (tel: 


734.9032). 

EXHIBITION — To July 14: “Ed- 
ward Lear, 1812-1888." 

•Royal Opera (tel: 240. 10.66). 
OPERA — April 20: “Don Carlo” 
(Verdi). - 

April 22 and 25: "King Priam" (Tip- 
pett). 

April 23 and 26: "Lucia di Lammer- 
moor” (Donizetti). 

Gallery (td: 821.13.13). 
BITIONS — To June 2: “The 
Political Paintings of Merlyn Evans 
(1910-1973)." 

•Victoria and Albert Museum (td: 
589.63.71). 


•Gallery 3 (teL 362.8230). 
EXHIBITION— To April 26: “Image 
Installation.” 


KJeooides Galler^(iel: 32.42.61). 


EXHIBITION 
Carlson.” 


ro April 24: “Lois 


Medousa GaXIery(td: 724.4532). 


EXHIBITION 
Kazazis.' 


fo May 16: “Yiogos 


BARCELONACennodeEstudiasde . 
AneC^nterapor^neo (let 329. 19.08). 
EXHIBITION— To May 19: “Antho- ' 
ny Caro." j 

WADJHD, Biblioteca Nacional (tel: ; 
435.40.03). 

EXHIBITON — April 23-30: “Frida ' 
.KahJo. Manuel Alvarez Bravo, Vin- , 
cemeRcgo." 

•^f^o^Mayor Elias Abuja (td: ; 

MUSICAL — April 24-26; “The Mi- ; 
kado (Gilbert and Sullivan), 
•^ndacidn Juan March (tel: j 


EXHIBITION —To April 30: "Rus- 
910-1930. 


mLAND 


_ exhib: 

BCHlBITiON — To June 9: “The «*»dVMen.- 


DUBUN, Alliance Francaise (id:' 

*r^ fYn » 

To April 30: “Fer- 


7631.971 

[BrnoN— 


dan Vanatardism: 191^,,^. 
RECITALS --April 22: Beatriz Lo- 

pardo piano (Banot. Schumann). 
Apnl 24: Rafael Ramos cello, Pedro 
tspmosa piano (Guinovait. Marco). 

6 Arte Co^ctttporfineo ( le! : 


449-7130). 

JlTlON — Through April: 


People and Places of Constantinople: 

l Prc- 


•Gvic Museum (tel: 77.16/42). 
EXHIBITION — Through April: 
“Wood Quay." ^ ^ 

•Wigmore Hall (td: 93531 .41). ?P,a V «* Hendrik ’* Gallery (tel : 

REOTALS — April 21: Richard 
Mapp piano (Beethoven. Schumann). . EXHlBrnON — 

April 24: Enrique Perez de Guzman ttmnsxon. _ 



watercolours by Amadeo. Count 
ziosi(18l6-l8K)." 

Wigmore Hall (id: 93531 .41). 


piano (Poulenc, Ravel). 
April 25: Mitsudo Shirai 
Hartmut Hfill piano (Berg, t 


soprano. 


piano (Berg. Haydn). Regan,” etchings. 

April 26: JohnMilli, Raymond Burley • 


guitar (Ravd, Vivaldi). 


To May 4: “Roy 
•Grafton Gan cry (tel: 79. 1835). 

EXHIBITION— toApril27:“Conor 

"egan,” etchings. 

Oliver Dowling Gallery (tel; 


EXHIBl _ 

Jean “Finnish Design." ' -tr-v ' 

EXHIBITION —To A pril 30: “Spap- 1 iz ? ■“ n 

isb Sculpture 1 900-1938.” 

•^“^^paadones dela Caixa (td: 

EXHIBITION— To April 30: “Rich- 
ard Hamilton.” 

oI?^ de,aZ “ aiete ( l d^29.I2,86). 

9? E 5£'”'Ap r il 22 and 25: “Armidc" 

(Gluck). 


76^5.73). 

imON — To April 30: “Qfl- 




. EXHIB. 
bertSwimbcrgc.' 


ove 


•Olympia Theatre (td: 77.89162). 
THEATER—' ThronghApril: “Ml 
O ver Mrs. Mitfkham (Ray Cooney). 
•Orid GaOcry (let 7634. 10). 
EXHJBmON — Through April- 


WHITED STATES 


PARIS. American Church (tel: 

705.07m EXHTBmoN — Through Aprit 

RBCHAL— April 21: LauranaMit- “The DubQners. Watercolooia by Mi- 
chdmore piano (Bach, Scariaui). diadHealy.". 

•Beragruen Gallery (tel: 222X112). •PcacockTheatR(td: 74.45.05). 
EXHlBrnON —To April 30: “Cub- THEATER —Through April- J Gkn- 
ist Engravings.” . gmyGtenRos^’CDavid Mamet). 




2d2?SS i - - ' ToS ' pt - 

SSBSV* Modcrn “ 

EXHfflITONS— To May 14: “H am 
To June 4: “Henri Rrauseao.” 


V - 
































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INTERNATlONAt HERALD TRIBUNE, FRIDAY, APRIL 19, 1985 


Page 9 


FOR FUN AND PROFIT 


Minimizing the Problems 
Of Money on the Move 


by Roger Coffis 



IS 


ee 


, Alibi! Mo sob 

ION— ToApri?'' 
.fUKivo-EPaoBS., 
AnGillfnikO- 

ION— ToJuK^ 


>lk Craft Witaf 

ON — ToJbk2‘*’ 
isiem Pismcii.' 
liisiuniofM*** 

ON — ToM* 1 *- 

l Museum 1“*^;' 
OS— ToApd?? 
,i- AmicHnW'; 

ON -Tok- 
ina N Jllffe ??v. 
and Sail 

ON -To Mil"' 
ear> -As® ...ji 

iMSSSfi 1 

aiw*eft«« 


BOLOGNA. Galleria ffA , 
£ma(ui:5a28.S9i ^ v 
te EXHIBITION-- To j^w,, ^ 
P«coU.""RobenoBS^ t 

SSKSH^jj* 

" asMaar f * 
ggsr--**. 

® P §, R ^. “ AM 2fi “tefc-f 
nier (Giordano). 

,j. MILAN. Padiglione d'AruCr 
‘ poranea (tel: 7S.4t.88L 

ni- EXHIBITlONS-ToApriib 
an o Ti obia Scarpa: airimaEs 
signers, ” “The lmagmav t 
Real: Paolo De PjIl r^g; 
_ ToniZucchcn." 

TURIN. Royal PalacefttfcKs 

EXHIBITION— ToMnUt 

— lv life in Rajasihau SeaTfe; 

,j . dian Mini a lure Painiingsbrr? - 
19 Centimes." 

u f •Teairo Regie tisl: 54M 
OPERA — April 20. 21.21/: 
Bartered Bride” fSrammi 
• 3 - VENICE. Ca’ VendnmuCr 
n- 70.99.091. 

EXHIBITION -To Mivltt 
:1 : rative Japanese An; IKJjfc 
•Palazzo Fcruujv(id: WS, 
n- EXHIBITION — To Apdi i 
Fashion: N50’sand]<Wf 


JAPAN 


N OTirusy pcopk Uunk of tfaecosi 
of money itself As a manageable 

. item ia a tnvd budget Most just 
take a bunch of plastic cards, 
some traveler's checks and a bn of cash aod 
hope for the best And yet you can lose 

significant amounts simply by dung ing 
money in the wrong places and in the wrong 
form. 

For example, go into a bank in London 
andask to change 500Swis* francs into U. S. 
dollars. Yes. we can do that, yonH be told. 
Bui first the Swiss franc have to be chanced 
into pounds and then the pounds into dol- 
lars. Why? The excuse is that the bank 
doesn't quote a cross rate between the two 
foreign currencies but only against s lading. 
Whether it's down to indifference or cupia- 
rty. it means a double commission for the 
bank. 

Here's how the transaction would work 
(taking ihc rates of March 29 as an arbitrary 
example). You would be sold pounds at the 
“buy rate of 3,28 (compared with a “sdl" 
rate of 3,12, spreads of 5 percent arc not 
uncommon). This would give £152.40, in- 
stantly turned into dollars at a “sell" rate of 
slightly more than 1,2, ending up with 
5183.60. However, if (he bank were to con- 
vert directly at the doDar-Swiss franc cross 
rate, the “tray 7 ' rale would be 2J6 Swiss 
francs to the dollar, to give you 5187.97, or 
' about 2.4 percent more. Applying the cross 
rate (Lc. no oonunissioa) would yidd $192. 
There would be a similar cautionary iak u 
most banks in Britain and the rest of Europe. 

Of course, the moral is never change mon- 
ey into a third currency. It's better to convert 
Swiss francs to dollars in Switzerland. But 
this example also typifies the high rate of 
bank commission tor changing cash, al- 
though it can be much higher in holds, 
restaurants and shops. The exception is 
countries with a vertiginous inflation rate, 
like Argentina, Brazil, Peru and Israel, where 
there is a flourishing black market in dollar 
bills. In Brazil for example, you can get up 
to 2,000 cruzeiros to the dollar compared 
with 1,200 at the official rata Currencies like 
Greek d rachma, Italian lire and South Afri- 
can rands, which people ymnggU* out in large 
quantities, can be good buys abroad, al- 
though you have to be careful of the ex- 
change control regulations when you take 
them back into the country. For instance, the 
money of Eastern European countries can be 
bought in the West at many times the offldal 
rate, but these countries have stringent laws 
forbidding the importing of their own cur- 
rencies. 

But in general, it’s best to cany only a 
small amount in foreign bins, just enough for 
tips and taxis, and the rest of your cash m the 
Form of traveler’s checks, either in dollars or 
destination currencies, Thomas Code in 
London srifef them in pounds, U, S., Canadi- 
an, Australian and Hong Kong dollars, 
French francs, West German marks, yen, 
Dutch guilders and Swiss francs. Both 
American Express and Thomas Cook say 
Eurppe&n-cunencjMuat checks wili be avail- 
able later this year. . .. 

Accordin g to an official of American Ex- 
press in London, cash still represents around 
50 percent of “payments abroad" in Europe. 
Bank and chaise cards are _‘*probably 15 
percent” and traveler’s checks “in the region 
of 20-25 percent." Although the market is 
said to be dedinmg, traveler’s checks st£Q 
represent worldwide sales of 535-40 bOBon. 
But there is a shifting pattern of use away 
from business to leisure travel and from 
North America and Europe to the Middle 
East, Africa, and Southeast Asia. In the 
Middle East, for example, traveler’s checks 
are commonly used to transport vast sums of 
money for foreign real estate deals. 

American Express (world leader with 45 
percent). Bank of America and Citicorp to- 
gether have around 70 percent of the world 
market But Mastercard and Visa have 
launched successful check operations in the 
last five years. 

The prime reason for carrying traveler's 
checks is that they represent secure, refund- 
able cash. If lost or stolen, they can usually 
be replaced within hours, at least by the 
major issuers. Some Italian banks are report- 
ed to take up to a year. One thing to amiader 
when buying checks is how many refund 
points are available on your itinerary. Amer- 
ican Express has about 1,000 offices world- 
wide, compared with 140,000 bank outlets in 
the Visa network. Outside the United States, 
Citicorp checks may be more difficult to 
replace. 

Banks and local traders 
better rate of exchange for traveler's i 
than cash because they are safer and quicker 
to process. Undated checks can be sold on 
the black market and in some countries, like 


brad, you can avoid value added tax if you 
pay by dollar check, (This is also the case for 
credit cards). Some hanks will also give 
slightly better rates for their own checks. 

An advantage of buying foreign currency 
checks before you leave is (bat you are hot 
subject io currency fluctuations at the point 
of encashment. But this must be offset 
against the l percent commission that you 
pay for all checks when you buy them and 
when you return unused foreign checks to 
your bank. So if you're not sure bow much 
you’re going to spend, it’s best to buy them 
in your own currency to avoid paying a iota! 
of 3 percent or more on double commission 
and exchange rates. However, traveling to 
the United States and Latin America, dollar 
checks are essential as they are interchange- 
able with dollar bills. In Spain, you can pay 
up to 3 percent on non-peseta checks. 

Mosl major travel agencies will waive the 
1 percent commission on checks for valued 


Exchange costs 
often depend on 
where and how 


clients. Some can arrange for a stock of 
checks to be held in the cashier’s safe, to be 
paid foe only a week after they are issued io 
traveling executives. However, the travel 
manager of a large British firm says she 
prefers executives to pay with credit cards 
because of the high cost of exchange when 
up to 50 percent of checks are unused and go 
back to the bank. 


Charge cards (like American Express and 
Diners) and bank, or credit, cards (like Visa 
and MasierCard/Access) normally give you 
the very best rate of exchange, close to the 
interbank, or cross, rate. The only snag is 
that you are exposed to currency movements 
from the time you use them to the time the 
voucher is processed by the clearing system. 
This may vary from a couple of days to 
several weeks, although you may wait one to 
two months for your statement. It's a ques- 
tion of roundabouts and swines, you may 
win or lose. Says one financial analyst: *1 
made a fortune when 1 was in Argentina. I 
had a bill in pesos and was debited by Amex 
six months later, by that time the peso had 
devalued by almost 80 percent." A rule of 
thumb is to use a card u a country whose 
currency you think is declining against the 
dollar, which is the base currency used for 
processing nearly all cards. It is hard finding 
out exactly how the card companies work 
out exchange conversions. Both Ddnens and 
American Express add a 1 percent conver- 
sion charge. According to a spokesman, Visa 
allows a “tolerance of only 25 percent" on 
either side of a cross rate decided upon by 
the Visa network. 

It's always a good idea to cany several of 
the major cards, if only because acceptance 
can vary widely. Visa has more than four 
million outlets (50 percent in the United 
Stales). MasterCard (which is linked with 
Eurocard and Access) has nearly four mil- 
lion outlets, while the two charge cards, 
American Express and Diners, have relative- 
ly few outlets, 800,000 and 500,000 respec- 
tively. 

Both charge cards are wooing new mem- 
bers with a range of additional benefits such 
as automatic travel insurance, dub lounges 
and check cashing facLLLlies as well as corpo- 
rate card programs. 

But what counts for many travelers is the 
ability to get cash against a card wherever 
they are. Although American Express and 
Diners allow card holders cash on personal 
checks up to a daily limit, this costs as much 
as a traveler’s check. The Eurocheque sys- 
tem, whereby you can write checks directly 
in any currency, is now widely accepted (the 
major British banks — apart from Midland, 
wfuch has been issuing its Eurocheques for 
the last two years — finally joined the pro- 
gram two weeks ago). But there is a sendee 
charge of about 1.25 percent. 

The future lies in electronic cash dispens- 
ing. Eurocheque holders can obtain cash 
from machines with their check-guarantee 
cards and MasterCard and Visa have devel- 
oped a worldwide network of automatic tills. 
Visa daims to have 2,000 such machines in 
i to have 4,000 by the end 


this year. It takes just a few seconds to 
transfer funds in local cash from one conti- 
nent to another. It’s the safest and cheapest 
way to- get the exact amount of money you 
need on the spot. ■ 


TRAVEL 


Restaurants: Pere Rise Falls Short 


T 


ALLQIRES, France — Going a bit 
against the flow of popular opin- 
ion, I have remained a fan of P4re 
Bise, (he world-renowned restau- 
rant set along the shore of the magical Lake 
Annecy in the Savoie. When the Micfaelin 
guide reduced the restaurant from three stare 
to two in 1984, there were tots of cheers. I 
was saddened. Not that they were on par 
with many other three-star establishments, 
it's just that they were no worse than some. 

Within the last year the owner. Frontons 
Bise, died oiler a long illness, and his da ugh- 


Patricia Wells 


ier, Sophie, returned to the kitchen to follow 
in the family footsteps. Throughout that 
time. Mis. Bise and the establishment’s long- 
time maltre dTtotel- sommelier carried on 
business as usual, as best they could. 

When Pin Bise regained its third star (his 
spring, hundreds of congratulatory letters 
and telegrams poured into the cozy lakeside 
hotel-restaur am. 

Dining there a few days ago. after a three- 
year pause, was like visiting a favorite, re- 
spected old friend who had gotten paunchy 
and let himself go, who had taken his public- 
ity too seriously, who had simply lost touch 
with the reality of the 1980s. 

It was as though no one who had anything 


to do with the food at Pere Bise bod been out 
in the real world in a long time and. what's 
worse, did not care. 

It was as though the kitchen door hud 
been locked somewhere around 1954 and no 
one allowed out. Someone unrelated to the 
kitchen continued to do the marketing, buy- 
ing fresh fish and poultry, shopping year 
round with ihe same list, paying Utile atten- 
tion to the season's first and freshest aspara- 
gus or strawberries, following not at all the 
growth and importance of the local wines 
that marry perfectly with the region's indige- 
nous lake fish. There was, simply, no excite- 
ment there. 

And the fault does not lie with the very 
classical son of cuisine that Pfcre Bise offers. 
Indeed, the truite saumonic faqon Auberge 
suggested a rather nonclassical and Chinese 
influence: The marinated salmon trout was 
served with a delightfully lively ginger- 
flecked mayonnaise. 

But what about the feidiletie aunsde veau, 
a real yawn of veal sweetbreads in cream 
sauce, tucked inside a rectangle of puff past- 
ry: or the turban de soles aux pommes, anoth- 
er tired-out blend of bland sole filets, more 
cream and slices of apples? The marriage de 
Saint- J names et (Premisses wasn’t a mar- 
riage at all, not even a flirtatious conversa- 
tion. It was a mix of naturally delicate scal- 
lops and crayfish turned bland and dull with 
a nondescript sauce. 


And the bread — writ, During five days of 
timing in the Savoie, in starred restaurants, 
in no-account bistros, in simple farmhouses 
and at fiO-franc-a-dinner tame d*bdte. the 
bread at Pin; Bise was the most disapointing 
of the week. 

One shouldn’t go to P£re Bise and have to 
say ”50 what?" about the food. 

The biggest jolt of all was the famed mar- 
folaine, me incredibly rich, superbly deli- 
cious and complex layered chocolate dessert, 
the ultimate cake: four delicate layers of 
hazelnut “biscuit” interlayered with a rich 
chocolate ganache, butter cream and praline 
cream, with a final dusting of chocolate all 
around. When the dessert can rolled around 
I was presented with a dried out, leftover 
heel of cake. The last slice of mariolaine 
made who-knows- when . It was as If the chef 
had come out to greet diners with a two-day 
growth of beard and a soiled white jacket. 
Have they no pride? Or are they simpl y 
playing a game, assuming the client won’t 
know the difference between fresh and stole? 

1 get angry when a restaurant with the 
potential of PCre Bise lets me down. Yet 
another pan of me, the "benefit of the 
doubt" side, says: “In the end, you had a 
pretty good tune. The food was, after all, 
d e c ent . The service was exquisite. And, 
what's more, everyone about me appeared to 
be having a wonderful time " Can one ask 
for more? 


Tile answer is yes. All the raw materials of 
a grand restaurant are there: the incredible 
setting, the remarkable reputation, today’s 
ready availability of talented people mid 
superbly fresh products, and the wines to go 
with them. In a day when talented chefs and 
wise entrepreneurs would give a left and 
right arm for a setting like this, a reputation 
like this, it is a sin to allow a restaurant like 
this rest on its laurels, nodding along as if it 
were the 1954. 

Perhaps the last word on Pire Bise comes 
from the American food authority Julia 
Child, who recently returned to ihe'restau- 
rant after a 40-year absence: 

“The food was far from 2 star, or even 1 
star. Excellent ingredients, but you just 
wished you could get out in that kitchen and 
fix up the chicken sauce, for instance — pure 
cream, no depth of stock, no lemon, no wine, 
etc. Earnest but inept. We ended up liking 
the restaurant, liked Madame Bise, and the 
waiters and tualtre dTtoieL and we looked 
forward to coming back in two years when 
La Filte Bise had established herself." 

Aubergc du Pere Bise, 74290 Tailloires. 
France; tel (50) 60.72.01. Closed April 16 to 
May 4, Dec. 20 to Jan. 19, and Wednesday at 
midday • from October to July. Credit cards: 
American Express. Diners Club, Visa. Menus 
at 280. 350 and 500 francs. A la carte, from 
400 to 500 francs a person, including wine and 



nmopoptu b> The Anooawd Preu 


Murtabak (meat-and-onion pancake) at Muhabbaih Restaurant. 


Satav ( Malay kebab) is featured at Rex Satay Muslim Food Stall. 


Updated Tradition: Singapore Street Food 


by r Barbara Crossette 


S INGAPORE — It gets harder and 
harder to find the heart and soul of 
old Singapore as neighborhood after 
neighborhood falls before the bull- 
dozer. But one tradition lives oil, if in updat- 
ed surroundings. All over town the once- 
mobile sidewalk chefs of Singapore's three 
great cuisines — Chinese, Malay and Indian 
— are still thriving, rooted in countless food 
centers. 

Government regulation — one of the nicer 
-products of all the progress — insures a 
healthy environment for the food hawkers, 
and visitors can join in savoring the street 
food of Asia. 

The government keeps lists of the centers 
— collections of dozens of stalls, usually in 
the open air and often reflecting the spint of 
the neighborhood that produced them. 
Tourism officials recommend a few special 
ones, which lend to cater to foreigners, 
though none I tried was in any way dominat- 
ed by a tourist crowd. 

My own collection began with Rasa Sen- 
tosa. This center is a relatively recent addi- 
tion to the leisure-time facilities (beaches, 
golf, a monorail, museums) on Sentosa Is- 
land, an offshore park reached by ferry or 
cable cor. 

I went to the island at dusk, when the 
lights were coming on, giving the row of 
booths and the colorful tables and chairs a 
party air. 1 was looking for satay, the Malay 
kebab served with spicy peanut sauce. At the 
Rex Satay Muslim' Food Stall, 1 found an 
interesting chicken variety. One order of 20 


sticks cost the equivalent of S3 and with rice 
was an adequate supper. Emboldened, I later 
returned to try a tmirtabak, a meat-and- 
onion pancake, at Muhabbath Restaurant, 
an Indian Muslim stall I chose chicken, 
which cost 51.50, and it, too, was ample. 
Soda cost another 90 cents. 

1 Later discovered a good place for chicken 
biryani with saffron nee. It is Stall 9 at the 
Satay Club food center, not far from the 
Raffles Hotel. It cost SI JO, with 50 cents for 
fresh lemonade. In the evening, the Satay 
Club specializes in Malay dishes. Indians 
seem to bold the fort at lunch. 

I also went to the center at Newton Circus, 
which is often frequented by visitors, partic- 
ularly those who are hesitant to take the 
plunge into street food. At the Haijan Zaiton 
stall I had a dozen mixed beef and chicken 
satay sticks with rice cakes for 53.45 and an 
Anchor beer. The center is large aod the 
stalls well marked. Some have menus, mak- 
ing ti easy for a first-time diner. 

Another day it was Chinatown. The food 
center at Peoples Park was huge, t aking up 
the large inner courtyard of a new shopping 
center. At a stall without a name, I tried 
Hainan chicken, a mild dish of chunks of 
simmered chicken served with rice steamed 
in chicken broth. 

The hot pepper sauce served as a side dish 
made ti more interesting. (Those who thrive 
on Sichuan and Hunan cooking mil find 
much of the Chinese food of Singapore tame 
by comparison, probably because about 
three-quarters of Singapore's population 
came from the island of Hainan and the 
southern coastal provinces of Fujian and 
Kwangtung, of which Canton is the capital 


The fare that the immigrants — many of 
them poor — brought with them was very 
simple, based on noodles and rice.) The 
Hainan chicken and a dish of cha shoo fun 
(slices of barbecued pork with rice and soya 
gravy), which looked too good to pass up, 
and a cold Tiger beer came to less than 55. 

Rasa Singapore was another highlight Al- 
though thishawker center, off Tanglin Road, 
is close to a number of large hotels and 
handicraft shops, it is popular with Singa- 
poreans on dates or outings with their fam- 
ilies. I went on a crowded Saturday night and 
got wedged into two ongoing parties at the 
same table. I tried beef satay — marinated 
and seasoned meat broiled over coals and 
served with a peanut-and -chili sauce. Nearly 
two dozen sucks cost S3. Cold beer was 
SI .50. For dessert there was goreng pisang — 
batter-fried banana (20 cents for a whole 
small banana) or yam (10 cents a slice). 


E ATING at a food center is a noisy, 
sometimes even messy, experience. 
Y ou choose food being cooked by one 
vendor or another (most speak some En- 
glish), then settle yourself at a plastic, con- 
crete or metal table and await delivery. 
Meanwhile, hawkers of drinks and accompa- 
niments usually pass by to take an order. 
You pay when the (fish or drink arrives. 
There is no lipping. 

The pastel plasnc plates don't add much 
to the dining experience, particularly if vou 
happen to see than being washed. But relax, 
Singapore’s tap water is drinkable. 

1 was able to sample only about half a 
dozen food centers and not too many (fishes. 


I never got to see the seaside versions near 
Changi Beach, where barbecued crab and 
deep-fried baby squid are specialties. Visi- 
tors, particularly in a group and with more 
time to relax, could pul a bigger dent in the 
hawkers’ menus. 

It is possible to eat just about anything at 
a food stall from an oyster omelette (51 JO or 
$2.50, depending on size) to bubor cha cha 
(cold pudding — a bowl of mung beans, jelly 
and yams in coconut cream with palm sugar 
and shaved ice, about 50 cents). 

Only once did my stomach object to some- 
thing, the result of an overindulgence in a 
hot pudding of wheat and barley about the 
consistency of Cream of Wheal and cooked 
in molasses and coconut milk. 

These Malay desserts, which tend to be 
rich and sweet, can sometimes be found 
more easily in hotels or restaurants. (At the 
Dynast) 1 Hotel, for instance, each is about 
51.50.) If you overdo it, there is always the 
solace of Chinese porridge, a bowl of rice in 
broth, over which you sprinkle vegetables 
and meat from a cornucopia of side dishes. 
Because I wasn’t always sure what the side 
dishes were, 1 tried this only at hotels like the 
Goodwood Park, which puts yam chunks 
into it and offers it as a Sunday night special 
— a fashionable event for affluent young 
Singaporeans. The hotel also serves the por- 
ridge in the coffee lounge every day from 
noon to 2 P.M. and from 7 P.M. to midnight. 

Taiwanese porridge varies in price de- 
pending on what you order to put on il Side 
dishes range from vegetables for a few dol- 
lars io meat costing SI0 or more. 

f IV&5 The .Vw York Times 


lGiu£k>- 


UHltt® 


The Americans Are Coming! And Buying Out England 


by IL W. Apple Jr. 


I ONDON — The decorating firm of Colefax and Fowler De- 
signs Ltd. is the king of the English Look, and its show- 
rooms on London’s tony Brook Street are usually almost as 
-» sedate as the living rooms it designs for its clients. But for 
the last few months, the antiques department, in particular, has 
resembled a football pUcup or, as Tom Parr, a senior partner of the 
company, put it, “the mob in the first, hours of the annua] sales in the 
big department stores." 

“People have been pushing and shoving, falling over themselves," 
said Parr, “as if they had only 20 minutes until their money lost its 
value, or we ran out of stock or something. Quite incredible." 

Most of the people, of course, are Americans, lured to London by 
ihc strength of (he dollar and by the popularity of English antiques, 
chintzes, pictures and objets d’an, as evidenced by innumerable 
recent American magazine articles and books. Wealthy Americans 
from Dallas and Detroit, New York and New Orleans are finding 
that they can fly to London and back on the Concorde, stay for a 
week ana save enough on, say, a' dining table and a desk to pay for 

ailibfc 


Mario Buatia, David Easton and William Hodgins are among the 
best customers of the English antiques trade. Hampton shops at the 
fancy Bond Street shops such as M alien and Son, as well as at the 
more eccentric shops in Pimlico and at the neighborhood shops 
south of the Tham es in Barnes and Richmond. He also combs 
through sheds in Suffolk and makes regular sweeps through the 
counues west and northwest of London. Some professional buyers 
follow circuits through towns such as Marlborough, Hungerford and 
Chippenham: Tewkesbury, Cheltenham and Cirencester; Burford, 
Broadway and Slow-on -the- Wold. One of the biggest treasure troves 
is Holliday's, in the bucolic village of Dorchester-on-Thames, be- 
tween London and Oxford, which spills from building to building, 
with 24 rooms of furniture. 

But the Americans are invading smaller, more remote shops as 
well. A modest dealer in Lechlade, an out-of-the-way village in 
Gloucestershire, recently showed a visitor a back room crammed 
with merchandise she had sold in a single week — “all but one or two 
pieces to America,” she commented matter-of- racily, as if on inti- 
mate terms with all the big dealers on Madison Avenue in New York. 


the trip. What costs 5 IQjWO in Manhattan may well be available for ANOTHER, major source for the trans-Atlantic trade is the 


$5 ,000’ in London, the experts say, so why not make a trip of it? As a 
result, board roams and bedrooms from coast to coast look as if they 
bad been lifted from a Sussex manor bouse, and people like Parr are 
having trouble finding enough merchandise to selL 
Colefax and Fowler's business in January and February of this 
year was twice what it was last year, and those two months were the 
-best (he firm has ever had Nicholas Hastan, who runs a design 
business in Belgravia, said his volume had tripled in the last year. 
And Stewart Whittington, who sells 18th-cenimy En gl i s h funuture 
from a shop next door to Harrods, reported: “Traditionally our 
business has been half with British customers, half with Amencans. 
This year the Americans have made up at least four-fifths of our 
sales. 

. “They’re buying anything that has four kgs and doesn’t walk," 
commented Marie Hampton, a New York designer who makes 
several trips a year to buy furniture and other English items. He and 
colleagues such as Mrs. Henry Parrish 2d (the doyenne of the group). 


auction rooms, where heightened American interest is push- 
. mg up prices. At a Sotheby's sale in London in March, 210 
lots brought a gross return of $1.6 million, much more than antici- 
pated, according to Charles Walford, the auctioneer. A pair of 
George I walnut chairs went for S47JOO, three tunes the estimate, 
and a Queen Anne bureau brought $41,000, more than twice what 
the experts had calculated. Hie biggest surprise, however, was a four- 
poster bed (estimate: $8,800) that went for $54,000 to a buyer who, 
though not an American, bad made his money in the United States. 
By the rime he had had it restored, it will have cost him $80,000. 

"It seems absolutely grotesque, I agree," said Tom Pair, “but they 
don’t seem to turn a hair. The people who are buying aren’t 
collectors, as many Americans were a coupleof generations ago, beat 
on building up a representative group of fine George 11 pieces, for 
example. They’re people who are looking for funuture that will hdp 
to make beautiful rooms, down to the table to put a lamp on, with a 
lot of silver frames with pictures of their loved ones around it. 


that the Americans think our prices are a bit 
low. I wouldn't be tembiy surprised if things we sell them for $4,000 
or 55,000 go into the guest room." For the “really big things," Parr 


/en aet the fi 
vouidn’t be 


said, they may go to Frank Partridge, a prestigious Bond Street 
ealer, and spend 550,000 or £75,000. “God bless them, ' 


sa* 


is all I can 

The furniture that American clients like best is George HI through 
Regency; earlier things, many dealers said, strike them as a bit too 
massive or too crude. Mahogany and walnut are more popular than 
oak and pine. But Haslam said that he was also selling what he calls 
“funny furniture" — offbeat pieces including Vicroriana and painted 
things — and Hampton said there was no category without interest. 
Many of his diems are interested now in the work of William Kent, 
the Palladiaa architect and designer, in a way they weren't 20 or 30 
years ago, he added, “and a lot of people have discovered that early 
Victorian stuff can be described as william IV, which sounds a lot 
better. 



before England is cleaned out/ 

Nor is American interest confined to furniture. Carpets are popu- 
lar. and old needlework, earthenware, porcelain, treen (objects made 
from wood), brass — the lot. Prices on these items have also 
advanced significantly; simple copper cooking molds from the ISth 
and 19th centuries are snatched up at $150 and 5200, and one 
London shop is offering an old treen caddy for no less than 52,100. 

But the boom does not yet seem to have reached the market for 
British paintings. Sotheby's also had a big sale of them in March, 
which did reasonably well, with most items selling at or near the top 
end of their forecast range. The vast majority of (he buyers were 
British, however, not American. 

For the antiques people, the sound of American accents is every- 
where, and the dealers are having to karn about American shopping 
habits. An Englishman visiting the market on Portobdlo Road the 
other morning watched an A merican woman as she searched for 
goodies. Suddenly she spotted something on a stall and swooped 
trader. 


down on the f . 

“That wasn't there 10 minutes ago, 
best price on that piece " 


she shouted. “I want your 


“Eight pounds,” replied the trader — about S9. 

“I said your best price,” the customer shot back. “You can do 
better than that." 

The Englishman walked away, stunned. “Best price?" he asked 
later. “Better than eight quid? It's like asking for a better price on a 
pack of chewing gum.” 

\\ j HAT is the endless fascination with things English? It 

Wf would appear to be partly the result of long-standing tradi- 

▼ T tion; wealthy settlers in Virginia and Massachusetts wanted 
their houses to look like those they had left behind in Buckingham- 
shire and Norfolk, and wealthy Americans since then have had much 
the same idea. 

According to some designers, the newly rich, in particular, believe 
that an EngUsb-lookrng drawing room gives them an instant pedi- 
gree, and businessmen think a Sheraton office gives them instant 
credibility. But others give other reasons — the comfort of old 
English upholstered furniture, for example, as opposed to its Conti- 
nental (and even American) counterparts, or the tendency of English 
furniture of many periods to mix successfully, without a kind of 
archaeological attention to period authenticity, whereas French 
furniture does this much less well. 

For those not content with an “English” house in America, there is 
always the option of buying an English bouse or aparunent in 
England, and a startling number of Americans are doing just that, 
even if they happen to five, inconveniently, in New York or Washing- 
ton. According to Nigel Conradi of Chestertons. a leading real-estate 
agency, the number of inquiries from Americans interested tn 
purchasing second or third homes in Britain has risen by about 65 
percent over a period of only 18 months. 

They buy in central London — especially in fashionable neighbor- 
hoods such as Mayfair, Belgravia, Knightsbridge and Chelsea — and 
they buy at the top end of the market, spending anywhere from 
$85,000 to $750,000. Or they buy in the Home Counties, the ring of 
rural “shires” around London. 

And when Americans find their house, presumably, they then go 
out to find English antiques to fill it with. ■ 

© 1985 The New York Times 








Thursday 


MSE 


Qosmg 


Tables include the nationwide prices 
up to the closing on Wall Street 
and do not reflect late trades elsewhere. 


51 40to 
3214 as 

2*V*i 1M 

IM 149b 
914 «% 

S3Vb 34* 
17* IM 
as* iut 


«va am 
8** 75* 
4214 26* 
27* IM 
21 12 
31* ZS% 
4414 2914 
26* 1414 
ZM 15 
45 30 

37* 23* 
23* 18* 
UP 11 
119b 2* 


Morans 230 52 
MntOU 254 8.1 
MraPw 280 98 
MonSt LBOal+1 
MOHY 86 « 
MooraC ,200 U 
MoraCwt 
MoraM 104 42 
MorM pf 250 8.1 
Morons 220 44 
Moron ptJJTe M 
MorKod 148 07 
MorooS JO OB 
MtBRbr L71e|3 
Mortons M 20 
Mo trio a M 12 
Munfrd 54b 22 
Munsng 

MurpftC 140 Ol 
Mu rpO 100 03 
MurrvO 120 4.1 
MutOm 144O104 
MyorLn 



45% 441b 
31* 31* 

21* 21 va 

18 17* 

•* 9 
51* 5114 
17* 1714 
25 24* 

27* 27* 

£*£ 
40* « 
20 * W* 
20* 20* 
31(4 am 

3S14 23* 
25 24* 

21(4 2114 
45 44* 

30* 3014 
a is* 
13* U* 
3 2* 


44*—* 
31* + * 
21* 

17*— * 

SI* + * 
1714 + * 


24* — * 
27* + * 


4014 — * 
20* 

20* + 14 
3114 4- * 
34 — * 
25 + * 

2114 + * 
44*—* 
3014— M 
19*— 14 
13* + 14 
3 


17 Z7 
7 200 

9 414 

14 5 

9 832 

• 2533 
471 
241 

16 B50 

12 390 

12 744 

6 320 

10 40 

3 

12 I64T 
20 917 
2 

12 488 

7 14 

6 615 

20 

17 3735 

8 

14 712 
9 

12 119 

13 5250 

11 214 

9 11 

7 45 

9 98 

3001 
901 

5 

7 58 

7 81 

3 

9 25 

7 651 
4570a 
7 
1 

6 39 

1ft 15 15* 

31 14 49* 

13 1514 




33 2S7 46* 
34 2* 

« 4523 IB* 
20e 27 
flCz 29 
200a. 34* 
1504 38 
60z 4214 
10030x 4814 
2 23 
19 15* 
19 20 U 

301 30* 
40 240 15* 
9 614 MM. 
22 15* 
1 9 Si 40* 
7 377 IS* 

7 272 54 

9 32 4014 

11 207 19* 

6 1178 15* 
B 3374 12* 
S 774 44* 

40x33 
200z 35 
457 35* 
30 4* 

12 4322 49 

i 14 1142 54* 
73 2215 
10 IT* 

11 78 34* 

14 1774 Z7* 

I 21 54 

12 849 26* 
11 174 3614 

73 4* 
• 596 83* 



19* 

«* + * 
14* +1 
21* 4- U 
37* + * 1 
27* 

11 *— * 
*— to ; 
39 — * 
58 — * 

24 

27 — * 
41* 

74* + 4b 

72* 

29*— 14b 
19 + * 

11*— * 
27* 

40* 

3* + * 

25 + % 

g* 

10 — * 
26* + * 
18*—* 
29 

14*—* 
lito + % 
29 + to 

17* + * 
30* 

17 

11 * + * 
48* + * 
25*— * 
25* 

24* + * 
68 —1 
25V4— to 

18 

29 + * 

15*— * I 
49* 

15* 

8 *— * 



17 18* 

. 3 19* 
281 51 
38 118* 
1 MX* 
458 26* 
90 31* 
1719 14* 
430x 29* 
150x34 
150X 32* 
100x56 
100x60 
153 36* 
31 29 
10 14* 
100x62 
67 13 
12 19 
295 23* 
313 81* 
281 7* 

4 14* 
103 30* 
52 24* 
56 11* 

so as* 

138 II 

21 a 

55 29 

139 36* 
338 27* 
146 16* 
182 31* 
574 45* 
198 11* 


18* 

19* 

50* + 8b 
110* + * 
106* + * 
26* 

30* 

14* + * 
29* 

34 +1 

32*— * 
56 4-1 

60 +1 
26* + * 
28*— * 
14* + * 
62 + * 
12 *— * 
18* 4- * 
23*—* 
31 — * 

7 — * 
14* 

30* + * 
34* 

10*—* 
24*— Vb 
10*— * 

8 
29 

2 Sto — * 
29 + * 

IS*— * 
31 VS — * 
45to— » 
11 — to 


PtlllVH 40 14 11 
PMAI 2 3 9 

PfaNG 232 73 9 
Pleri 12 

P listin' 156 33 11 
Pioneer 12i 44 f 
PIORTEI .17r S 39 
Pttnva UO 11 11 
PBn&pf 2.12 18 
Plttstn 

Plan Ha JO 17 11 
Plontm . ,16b 2.1 . 8 
Ptavboy 3 

Piesev Ale 2 A 12 

PesoPd AO 34 35 
PolarM LOO +3 36 
Pondrs AO 3 7 
PdpToJ JO 4.1 
Portee AO 15 89 
PortGE MJ M 7 
Ports of 260 11 J 
PorGpf 4A0 112 
PorG P* 412 132 
Pottteb 1X6 41 12 
PotmEI 116 7A 9 
PotEIPf 450 10A 
PotElpf 404 118 
Pretnl s Jt 16 H 
Prtmrk 2 jOO 5A 7 
— PrlmeC u 

17* PrluiMs J09 J 26 
47 ProetG 260 45 12 
7* Prd Rah 33 U » 
P rotor 1AQ 34 9 
PSvCof 200 93 8 
PSCol of 7.15 128 
PSCnl Pi UO 107 
PSind uo 117 7 




2* 

78* 

27 —1 

28 —1 
34* +1 I 
37* 

4214 

48* +1% 
23 — * 
15* 

13* 

30*— U 
16 + * 1 
65*— * 
15*—* 
40* + to 
IS* + to 
53* + to 
40 + * 

19 — * 
15* 15* 

12* 12* 

44* 44* + * . 
33 33 I 

35 35 —1 

85 25*— * 

4* A*— * 
47* 47* + to 
53* 54 —to 
22* 22*— * 
11*— * 
33*— to 
27 — * 
54 +1 

26* + to 
35* +1* 
454— » 
81 + U 


25* 
13 

2* Ito 
17* 11* 
Zl% 13* 

’18 % 
56* 

5Sto 
27* 

37* 

67* 

27* 

34* 

27 
29* 

85to 
96 
65 
70 
40* 

25* 

50Va 
17* 


5* 1* Oak Inn 73 2* 2 2* 

36 23* OokltsP 152 43 12 10 35% 35% 3Sto — * 

35* 23V* OcdPet ZS0 8A 10 1734 29* 29* 29* + * 

23* 20* OcdPpf ISO 115 3 21* Zl* 21* + * 


PHH JU 28 
PPG 120 45 
PSA A0 IS 
PSAdPf 1.90 99 
PacAS 134 117 
POCGE 172 94 
PacLfB £32 7J 
PcLum 170 47 
FocRa* 05r A 
PocR5Pf20O VL1 
PocSef AO 28 
PocTeto 172 8.1 
Pad fan 132 82 
Podfaf 407 124 
PolnWb 40 17 
PoUlWp»22S 75. 
Palm 3c 170 81 
Pen Am 
PanAwt 

Panddtn JO 1J 
PannEC 2J0 6.1 
ParrtPr 

PaprcR JO 44 

Pnrdyn 

PorfcEs 

PorkDri .16 IS 

ParfcH 1.12 37 
ParfcPn 42 2J 
PolPtrt 

PavNP AO 45 
PavCsh .16 J 
Peabdv JO 28 
Peneo 
PanCen 

Penney 136 5J 
PaPL 256 105 
PoPLpf 450 125 
PaPL nf 840 124 
PoPLdbt3A2 123 
PaPLdncZ90 720 
PaPLdbdTS 125 
PaPL dnrX75 125 
PoPLpf 9J4 107 
PaPLpniiM 125 
PaPLpr 100 127 
PaPLpr 870 13J 
Prawn 2J0 43 
Panwpf uo 7.1 
Pranxol 2J0 45 
PwEn 1J0 7.1 
PbpBoy AO 1.1 
PepsiCo 1A8 12 
PerkEI 56 2A 
PrmJcn l_Ziel47 
Peryor 22 15 
Pefrie 1 AO 37 
PetRS 372*145 
PetRsPf 157 94 
Ptrlnv 7J»e21.1 
Pfizer 1A8 13 
PhetpD 

P he Ip or 550 10A 
PUU}rS 54 1A 
Phlloei 250 119 
PltllEPf 440 13J 
PMIE Pf 468 141 
PbllEpt 770 117 
PhllEpf 875 143 
PhllEpf 1A1 13A 
PMIE Pi 1J3 113 
Phi IE pf 7J5 142 
PtttlBpt ?JS >10 
Phil pf 17.12 147 
PhllEpf 952 116 
PhllEpf 950 141 
PhOEpf 780 148 
PhOEpf 775 141 
Ptll But) 1J2 65 
PtillMr 4 00 44 
ptlllpln A8 2.1 
PMIPet 100 7 A 


9 520 30* 
32 29 19 

13 104 2* 

12 110 13* 

18 273 19* 

133 7* 

100 * 

12 367 56 

8 3334 45* 
8 3211 25 
10x36 
280z *8% 
26 27* 
14 24* 
37 as* 
12 29* 
10x86 
10z t2 
130x62 
llOz 66to 

11 472 36* 

3 22* 

22 1041 49* 
8 775 17 

14 87 37 

23 1933 53* 
1 a 2394 23* 

7 158 8* 

14 72 18* 

15 305 38% 

35 26* 
39 16* 

36 4* 
14 5644 45 

2551 20% 
10 48* 
26 8187 40* 
6 2411 16 
250z 34 
22Qz 33* 
20x51 
1102 61* 
18 10* 
87 10 
2DCX5S* 
103 9* 

160X116* 
90X70* 
1470a 67* 
200x 55 
80x55 

13 86 21* 

73 3425 97* 

12 43 224b 

8 5836 40* 


S * 314b— * 
to 35to— » 
24* 244% + * 
19* 19* 

U 13* + to 
16 TS — to 
42* 42*— * 
25* 2Hb- * 
Ito 8% + M 
17* II + to 
14* 14*— to 
70* 70to 
28 23* 

32 32* 

35* 35*— H 
29to 29*— to 
38* 38*— * 
5 5*— to 

2* » + * 
15* 1514— * 
371% 37*— to 
5* 5tt +* 
lito isto 

13 13*— * 

15* 15to— * 
6* 6* 

30* 30*—* 
ISto IS*—* 
2 * 2 *—* 
13* 13to 
1916 1916— * 

Tt Tr* 

55to— * 
45*— to 
24*— * 
34 —1 
68to +3to 
27* + to 
24% — * 
26 —to 
29* + to 
86 +1 
92 

62 +1 


PSInpf 350 149 
PSInpf 1J4 1X9 


PSInpf 158 142 
PSMpf PA4 MX 


PSInpf 852 16A 
PSln pf 8J8 16A 


PSInpf 9A0 16.1 
PSvNH 


26* + to 

30 + to 

31* + * 

19 + * 

46*— * 

28to— to 

20 + to 

38* + to 
77 + * 

11* 

11* + * 
7*— to 
lOto + to 
25U— to 
i7to— to 
30 — to 
12*— to 
19* + to 
is*— to 

18*— to 
22 + » 
33V. 

32* + to 
3M 

29*+ * 
42* + to 
36* 

22 * 

37 — * 
17to 

27to— to 
52 *— * 
14* + * 
41% — * 
21* 

5994—11% 
19*+ to 
7* 

23* + to 
7* + * 
7* 

57W 
51 to 

SI* + * 
59to— * 



*3*15 . « 

* 

.40 1A 13 ZM 
ISO All 7 64 

ISO 15 16 2406 
1J6 if 810818 


i?to Tricon 

ini Tttaind * g % ~ 4 m Sto 

Slto 20* TrlaPC 150 " 442 44 43* 6» + * 

A8.7A13 Tjjjjfi 

AUa 4 TfIOi“ ac 17 9 64 _6% • J* 

g* » f 8 £ fgts 

T9V2 16 TwW» -g H b aia 35* 34to 3S 

n 27* TjmolA ® U , * isto 15* 16 


AO 15 17 51 

55 55 38 120 
AO 2J 7 69 

ZM X4 10 33 

1570 55 S 418 

BO 35 6 133 

52 27 12 BW 

AO 45 M 53 
)A0 110 8 107 

1J0 27 is 5854 
J l? 65 275 

J 11 491 

'1* 20 a 

sagsisEg tf us 

a* w* l?Scfpf Iao iu 

si § s»s a’g 1 1 »|| gs +8 

49* 41 Soudwn 150 23 10 If «b «* + * 

30* 22 SortBjc 150 43 8 %2 ^ ^ 6* 

Hto S* SoetPS 1A51240 21 95 4* 6* « . .. 




wv? 16 T«w» -S 2 ■ 35* 34to 3S 

41 27* TVCoLb ® U , “ 16* 15* 16 

17to 11* TvW» 6 4CH 40 A3*— 1U 

49* 31to UAL “J* JJ 4 * 7* im 30* 30*—* 

34 'A 24* JJALP* 141 U 19 14* 14 !«• + * 

S? lS5 254 9J 10 ^ »* %- K 


jajrBassr.ffloaB S 

g: ys’w a s its 

T&b iit Union C __ _ „S 


7* 4* UntenC 

5»s*85is JSM 


,» uni!^ 2J3 125 

ses-isas S!h 


J* 149% 74* 14*— to 
lootoimto + to 

35* 35* 

1120 39 38* 3§J% 

8 SH 5* 5* • 

830 18* IS* Wb— to 
100x49* 49to 49to — to 
« JO* 30 30*+ to 

1500x63* 62 42 

2444 24* 24* 

? 17to 17to 17to + to 
2 24to 34* 24* 

5101 59* 58* 59* + * 


4fi Cn% 

je* T ra 


22 22to 22to 
7 23* S3 » 


19 43* 43* 43* + to 
437 27* 27to ZTto— to 

„S 


P3NH Pf 
PNH pfB 
PNHpfC 
PNH pfE 
5to PNHpfF 
7* PNHPK1 
19* PSvNM XU 107 9 
20* PSvEG 172 M 7 
10* PSEGpf 1 AO 11 J 
92 PSEGPfllAS 1L1 
15 PSEG Pf X17 1X1 
46* PSEGpf 650 1X2 
16* PSEGpf 2A3 1X1 
“ PSEGpf 7 AO 1X0 
PSEGPf 9A2 115 
Public* 

P utbto .1* L4 B 
PR con 8 

Puoetp 156 115 10 
PirttaHm .12 J 24 
Purafst 1J8 55 13 
Pyre 7 


10 

10*— to 
14*—* 
13 —to 
11*— to 
im— * 
26*— to 
23*— to 
12* 

105 + to 

17*— to 
55*— to 
20 to— lb 
61* + * 
81* +3* 
3* 

11 to 


m j® seme * 254 XI • 4134 25* 24* 25to + to 

ut 14* ISmfcte ^ ^ SIS Su, S*- * 

24* 17 SoInGtS 1J0 7J 7 M 24to 24* * 

41* 28* SNETI 252 fJ 10 251 41 

36* 31* S0N6 pf XB2 107 2 35* 


1 is a. ussr s 3 ’> 

”* a® 7 J r r-* 

js 13» ’« Tia*-. 

18to Iftto U^Brod a 13* 13* 13*— to 

ucEm a a “firsts 




24* Zl* SoRypf 2A0 10J 
23 SoUnCo 1-72 6J 
23 Souffnd UO X? 


251 41 40to 40* + * 

**»*ss + u 

% 2* S* 


J 19 1021 15 


22* 18* SwtFor 
16* 10* SwfGas l» U J 
7<Sto 55 SwSofJ 650 XO 8 
28* 19to SvrEnr 52 19 12 

23* 17 SwtPS US XO 9 
m% n* Sptrton 52 X6 43 

152 39 % 


IM U f 
SM XO | 
52 19 12 
US XO 9 


144k— to 
16*— to 
S H + * 
8 — to 


45* U* QunJcOa 1J4 29 13 447 42to 


98 90* QuaOpf 956 1X1 50x 95 

27V 15 OimfcSO JO 17 26 140 21* 
11* 6* QuOTto* 34 20 9 

34to 23 Ousstar 1 AO 50 9 10* 32to 
2Sto 14 QkRell 24a 1.1 16 67 21* 


4ZM. 42* + to 
95 95 

21* 21* + to 
9 9 

32 32 

21* n*— * 


35 —Ito 
22 * 

48*—* 

16* 

36*—* 
52*— * 
22 *—* 


If*—* 
38V. +* 
26 

16* + Mi 
4*— to 
44* + * 
20* — to 
47* + * 
38*— 1* 
15* 

33 + * 

33to— to 
51 —1 
61U— * 
10 * 

10 + to 

55* + * 
9* + * 
116* 

70* + * 
67* + * 
54*— * 
55 + V 
2i to— * 
«S6— * 
22* + to 
40* + to 


14* 6U. 
43* 29U 
36 39 

97* 71 
31* 24* 
36* 29to 
946 6to 
4* 3 
18 12U 

lito 6to 
42V. 23 
Bto Sto 
16* 


RBtnd .16 2J 
RCA LM 2A 13 
RCApf 350 9J 
RCA pf 450 4JJ 
RCApf 111 65 
RCApf 3A5 99 
RLC JO 2A 9 
RPCn 

RTE 56 3A 9 
Ranee 8 

RaUPur UX> 25 14 
Ranted 58 

54 45 9 


TAO 35 15 
40 4J 33 
X12 11J 
U3e 99 10 

JO 16 14 


U.S. Futures April is 


I 


Season Season 
Htofi Law 


Open Hfah Low Close Ctt 0. 


Open Hlsh Law Close 


2130 1960 May 

2110 1980 Jul 


Eat. Sales Prav.Satas 1721 

Prtv. Day Oara Int 26 A 12 off 1513 


Season Season 
Hlsb Low 


Ooen Hiah Low Oase Cho. 


WHEAT CCBTI 

SHOO bu minimum- dollars per bushal 
403 352* May 353* 355* 

390 124% Jul 130* 352* 

3.76* 356 5«P 351 352to 

353* 353* Dec 343 343* 

174* 340* MOT 347* X49 

4-0} 144 May 

Est. Sales Prev. Sales 14421 

Prey. Day Open Inf. 3X111 off 1470 


348* 35Zto —411* 


3J9to 130to — jQOto 
1293% 350* — 00* 


3JM% 350* — «J* 
3-41 to 141* — *01 

3A7 347 — *00* 

145to 


ORANGE JUICE UfYCE) 

15000 lbs.- cents per Bl 
18500 15150 May 15800 15X00 

18455 15500 Jul 15790 15790 

18X00 15+50 SOP 15650 156J0 

18150 15115 Nov 15550 7H.TQ 

180.00 15299 Jan 15+80 15480 

777.50 15650 Mar 

162.50 16050 May 

15790 15790 Jul 

18090 17975 StP 


Est. Sales 350 Prev. Sales 387 

P rev. Day Open Int. 6A33 off 38 


1S555 
15540 15345 
15550 15520 
i ci ai 15390 
15+80 15395 
153M 
153A5 
15X65 
1S3A5 


EURODOLLARS tlMMl 
SI mltltathetsof 100 pet. 

91.10 0249 Jim 91.17 91J1 91.15 91J2 

9093 B+53 Sep 9094 90J2 9094 9064 

9053 8+88 Dec 9005 9020 9005 9013 

09 A3 86.10 Mar 89A7 8999 89A7 8972 

89.25 8673 Jun I9J2 8944 8952 89J7 

8893 8758 See 8951 89.14 E951 8956 

8977 B77B Dec BXI2 8X90 885 2 8X79 

8874 8744 Mar 8X64 BBA4 88A3 8X57 

Eat. Sales Prev. Sales 46928 

Prev. Day Open Int W9.J79 up 1453 



1JAOO 178BS +240 

17540 17805 +235 

17690 17770 +235 

17775 1J755 +235 



JO 32 
1A4 16 
112 124 
6*6SellJ 
1A4 XI 
2.12 7.1 
J2 19 
JO 3J 


7* 7* 

42* 43* +1* 
37 37* +1* 

77 99* +3* 

31* 31* + * 
3 6to 36* + to 
7to 7* + * 
3* 3*— to 
16 16to + * 
10tt 10* + * 
39* 3914— * 
7* 7*— to 

T k“* 

60 —to 
11*— to 
45to + * 
9*— to 
17 — to 
13* + * 
12 * 

^+ls 

37*— to 
6* — to 
1* 

9*— * 
45* + * 
25* + to 
55* 

3Zto — * 
28to 

2111— * 
24 +* 

T1* 

36*— to 
If* 

13* + to 
83 +* 


.la j i» ^ i 

Sto Saumrk 70 13 * 58] 7to Wb 7to + to 

3*28? IS SS ,1 ? & P L 

in ip >®“i4si)sss +! t 
st isss? 1 • B “ s 5S ^ as 
S* SS sa IS 8 1 m f* 

43* 31* 5QOCTD IM SO 10 J253 g* XT 37 

SB 37v*» SouUib UO 18 10 1055 579k 57Vh 57Vi 

24* T7* Sta/rv JO 65 16 30t ^ 19* ^ 

21 to 16* StBPnt 54 27 11 3M 20* Mto 20* 

20* 11 SIMatr 72 25 8 349 11* 11* 11* 

63* 501% STOIrtd 130 S3 8 2664 C* 61* 61* + to 

50* 37* SWOOh 2J0 XO 1 1409 47* 46* 4gb— * 

77* 6* SfPocCO ID ’2 17* 17to IgJ + * 

17 lito Standex 92 34 10 IW 15* 15* 1^ 

30* 17V» StaaWk 76 13 11 1411 V 

TO* ^ ItarS? l^allj " 1«% 10to 

20to 14to IwroSl 76 37 10 21 19* 19* 19U 

33* 2» St2^ 170 ^ U -Ofl 31* 29to 31to +1* 

22 15* StevnJ UO 77 10 1163 17* 16* lg%— * 

36 26* StwWro 1A8 5J 16 32 28* ??????? t 

12 8* StkVCrt 150 89 890x11* 11* + * 

45* 32* Slooew liO 3i f lg 4« 44* 44* + to 

39* 25 StoneC AO 27 11 129 27 27to 

531% 27* StDPShp UO 2i II 407 44* 4e* 4M% 

21* 15* 5 tar E a 1J4 8A IS 67 21* Uto 21to + * 


411 29 28* 2Bb— W 

67 335% 32* 33 + to 

31 lOto lOto lOto + to 

44 3* 3to 3* + * 

21 19* 19* 19*— to 

33 lito 11 11 


2 13* 13* 13* — to 
Scbmr .14 A 58 » 37 3*55 3gb- to 

UnEnra 3M 82 « 3g 3W% » ^b + 5 
Uinuni 250 12A 3 8* ** JSJ— 2 

i is- II II fill + 
Pril l is jecit' 

fir* ^ HMUM 7 202 33* 13 13to 

nPVMn 1 15 2* 2* 2* + to 

Uto sT .12 -4 7 1«» * 31* Bto-H 

Bto Sto USHom ^ Wto »to »to 

£2 uisSS £ 8iS S II I* + a- 
St ^ iiImmI 150 17 10 2320 27* 36* 27 — to 

iStoiwt uittwian M IM 

»» W 2§ 7 St « 

45 Wto UnTdl* 140 16 B % g5 S% + yj 

39* 28* UTdi Pf 2» 7A * JS 2S2 S zS*Z. * 

T 2i* W%* z* * 

% IS* UWRS 1 « 6J 12 130 2D* 20 20* 

if UMKiW JO 7 16 81 27* 26* 27 —to 

22* U* unhw A8 37 13 S W* M *■*— to 

27* 18* UntvFd 15+ +2 16 296 25 34»- JHb— to 

23* IS* UnLeaf UO +5 8 343 22* H ~ * 

S3 X Unocal UO 2A 123800 47* 45to 4«I 

mu, lx uoiotvi 154 XI 16 1027 649k 8W 

W »» USLIFE 154 17 11 4jg 39* 38 31 -1* 

mb m UsIfeFd lJMaltlt 38 9* 9* 9* 

Kto'mkUtaPL 2^105 10 319 23* 22 VC 23to— to 

T* OtPL Pf 3M 11J 40 24* 34 24* + * 


12* 2 viStorT 

75* 32 SI are r 
21* 19* StrtMtn 
1BU 14tb SlridRt 
Bto Sto SoavSh 


67 21* 21to 21to + to 

845 S* 2* 28b 

4517 74* 72to 74* +2* 

172 20* 20 20 

19 ISto IS* 13* 

5 5* 5* J* . .. 


32* 21* SonBta I JO 18 11 IM 32.. 3>* S5 + ft 


34* 24to SonCh 
14* 6* SunEI 
59* 439% SunCo 2J0 +5 
122 90% SonCpf 225 2J 


A8 1A11 U 34* 34* M 

ss £ 11 


49* 34* Sundstr UO +0 12 874 45to 44* 45 


15 7* SunMn 

34* 24* SuprVI 
40 19* SupAMtt JO. 1.1 13 

17* 14 Swank 50 5.9 10 
21* 16* 5 rDran 158 5A 11 
Sto 28* Sybrnpf 2A0 77 
15to lito SvmsCo _ 19 


26 453 8* 8* 8* 

AS tl n 190 32% 32U 32* + * 

42 1.1 13 844 40 39* 39% — to 

JO 5.9 10 4 15* IS* 15* + * 

58 5A 11 55 19to 17* 19V. 

lS 77 25 33* 33to Sto + to 

19 25 14 14 M + to 


STto 38% Syntex 1.92 14 14 550 57* 56* 57 

3816 25% SY9CB -36 15 15 607 25* 34* S 

Si 35* TDK J7e A 18 39 42* 42V6 42to— * 

32* 24 TECO 2J6 7J 9 782 32* 32* 32*— to 

13* 7to TGIF 18 80 lito 11* lito 

16* IT* TNP US 77 9 8 16to 16* ISto „ 

25% 17 TRE 150 44 15 33022*22 22* + * 

11* 58* TRW 350 +3 10 617 74to 73* 73*— * 

341 4 3* 3* 


T* UtPLPi 2J0 11A 

21* 17* UtPLPi 236 1L1 
78* 15* UtPLPi 256 T1J 
33to 21* VF Core 1.1* 16 

^if^PtlMlSJ 
5* 2V, valeyln _ „ 
2Bto 18* VanOrb S2 XI 
5>b Zto Vdroo 
18* 57% Varcopf 

46* 29* Varlon 26 J 
13* 9Vi Vara 48 16 
25* (7* Vetoo 40 25 

1$ TJ0B11A 

45* 25* Viacom 42 U 
66 56 VoEPPf 7J2 1U 

83* 68* VoEPPf 975 11.9 
66* 52* VaEPfJ 7JZ 125 
613b 49* VoEPPf 7 JO 11J 
Zl* lito Wshavb 
41* 27* Vomod 
78 58* VufcnM 250 18 


RTU 3* TocBoat 


78 SB* VufcnM 250 18 11 
29* 21* WICOR UO U 7 
49 34* WObRPf 4JO 10J .. 


JO 114 25 25* -25* 25* + to 

J6 1L1 20 21 14 21 Tito + * 

M TU 7 18* ISIS lOto + to 

'■« m ■ 4S? Jb si: 

52 +1 4 35 23 22* ^* 

23 3* Zto Zto— to 

11 «* 8* f*+ lb 

J6 J 11 945 31* 3T* 31* + to 

40 16 15 2? It* I Ito lito 

M 25 13 93 20* 20% TOM— to 

62 6* 4* 4* + to 

J0011A 19 TO* HHb 10*- to 

42 U 19 SU 44 42to 4Zto— to 
J2 115 401 65* 64* 65* +1to 

75 11.9 370182 82 - 82 + to 

XI 125 160x 45 64* 44*— to 

JO 11J 20r 61 61 61 +1 

U 49 21* 20* 21 
10 8 39* 398b 39*— to 

JO 18 11 77 74* 74* 74* 

JO 85 7 3S 2916 2M6 S* 

JO 1X7 30z 42 42 42 +1 


35* Sto wadiv7 .92 25 11 3« ^ M 


70% 52* TaftBra U2 U 14 167 67to 66* 66* 


CORN (CRT) 

5500 bu minimum- dal lores 

130 249% May 252* 253* 

131 273 Jul 279 250% 

121* 246* Sap 268 Mi 270* 

275 240% DOC 2A3Mi 2A5 

3.10 249% Mar 270* 273 

3-2 IV. 274* MOV 2-77* 277* 

256 277* Jul 279 279* 

Eit.Sales Prev. Sale* 31421 

Prev. Day Open Int.l31jl7 up 1497 
SOYBEANS CCBTI 

5500 bu mini mum- dollars per bwhel 
7.97 STO* May 575* SM* 


1X2 2J3U +50* 
279 250* +50* 

248% £70 +57 to 

242% 244* +51* 
270* 272 +51* 

274* 27716 +511* 
279 2791* +51to 


7.99 5JHF 

7-56 SJ2 

671 541 

AM 5531 

479 554! 

7A2 656! 

7.79 6.15 

649 6J8 

Est. Sales 


550% Jul 651 604* 

182 AUB 653 655* 

541 Sep 651 603* 

5J»* NOV A 07 458% 

554* Jan +16* +19 
656* Mar +26* 629* 
+15 May 634* +37 
+38 Jul 640 +63 

Prev. Sales 2X338 


650% 65316 
652 654* 


652 654% 

650* 6531* 
645% AOS 
+16 +18* 
626* 429* 

+34* +37 
+A0 643 


Prev. Day Open Int. 61088 UP1J36 


SOYBEAN MBAL(CBT) 
loo torn- dollan per Ion 
MS50 12640 Wav 12830 12840 


19+50 13240 Jul 13+00 13+60 

18050 13540 Aim 137-30 137-50 

179-5° >38-1“ Sep 13950 14050 

18X90 140-50 Oct 14290 14100 

18+00 14550 Dee 14700 14X00 

16350 14X50 Jan 15050 15CL50 

9D650 153-50 Mar 15+50 15+50 

16150 15950 May 

16750 16750 Jul 

Sales Prev. Sales 11744 


18X50 14 

18+00 14 

16350 14 


16750 16750 Jul 

E*t Sales Prev. Sales 11744 

Prev. Dav Open Int 46X21 up 426 
SOYBEAN OIL (CBTI 
60000 lbs- dol lare per 10Q lb+ 

3340 2240 May 3225 3225 

3225 22.70 Jul mg 3077 

31.17 22J0 ADD »J5 2947 

3020 2150 Sep 2X85 29.10 

29.15 2190 ocl 2X05 2X15 

2820 2220 Dec 27 JO 2740 

2745 2160 Jan 27.10 27.15 

27-70 2440 Mar 3600 2750 

2640 2440 May 

Eit.Sales Prev. Sates 19J32 

Prev. Day Open Int. 57473 upl J31 
OATS (CBTI 

5000 bu minimum- dollars per bushel 
1.91 146* May 147* 147% 

>TB* >43 Jul 144* 1A4* 

T9 >40 Sep 141 to 1411* 

1-82* 144 Dec 145 1A5 

1J4* 146% Mar 147% 147* 

grf-Sote* Prev. Sales 209 

Prev. Day Open lip. 3J90 oHS7 


12740 12X30 
13340 13+30 
13640 13740 
13950 13950 
14220 14350 
14750 14850 
T5QJ0 150.10 
15+50 15*40 
15740 
16040 


COPPER (COMEX) 

25500 Iba.- cents per lb. 

65AS 6125 Apr 

9240 5+20 May . 6550 8550 

6+75 61.05 Jun 6340 6420 

BX25 5750 Jul 6540 6540 

82.10 5740 Sep 6550 6550 

B+25 5X50 Dec 6620 6620 

8+20 5940 Jan 

HUM 5940 Mot 6640 6645 

7+00 61.70 MOY 4AUC 6445 

7+40 61 JO Jul 6640 6640 

7X90 6200 Sep 6640 6+90 

7000 6+00 Dec 

78-30 6500 Jra 6725 6725 

Est. Soles 20,100 Prev.Sdea 10T25 
Prev. Day Open Int 91 JU off a 
ALUMINUM (COMEX) 

405001 tm.- cent* Per lb. 

4940 4+70 Apr 

82-90 4740 MOV 49J0 4920 

49-85 *9-80 Jun 

5940 4X50 Jul 5005 S+1S 

7+30 4925 SOP SttSS 5045 

7060 5045 Dec 

7640 51-75 Jm 

7140 5145 Mar 

66J3 5393 Mar 

6345 5555 Jul 5555 5555 

52.10 5140 SeP 

Dec 

Jan 

Est. So lea 573 Prev. Sales 594 

Prev. Day Open Int 2262 uo 31 


CANADIAN DOLLAR (IMM> 

3 perdtr-1 point euuob SO-OOOI 
JB33 2054 Jun .7350 J388 J3S0 

.7*5 2025 Sep J35S J374 03S4 

2566 2006 Dec T342 7347 7342 

.7504 4981 Mar 

J260 2070 Jun 

EH- Sales 1J07 Prev. Sale* UOt 
Prev. Day Open Int. KU23 UP 37 
FRENCH FRANC (IMM) 

Spot franc- 1 paJnt*auaJiS05roe> 

-11020 59410 Jun .10960 .10960 .10960 

.10760 59680 S*P 

59670 59670 Dec 

Eat Sales 2 Prw.Saira 25 

Prev. Dav Open Int 1406 up 25 


•to 
59* 41to 

S 

50 33% 

26 13 

20 15* 

28* 17* 
28* 19 


26 ito 12* 
15% B* 


110 4 - % 

33 to— to 
72 — 6% 
3216 + I* 
18*— to 
29M,— to 
4% 

2J*~ to 
39to— * 

sr 

37 + to 
3516— to 
57 — to 
4916— to 

lito— to 

15*— to 
32* + to 

ats 

«b + to 

14U— * 


17% n% Tolley JJSe J 13 

20 14% Talley pfUO +9 

72* 46% Tambrtt 3J0 +7 13 

36* 23V. Tandy 

15% 12* Tadvcft 

68% 51* Tekfrra U0 1 3 8 

Sto 2* Tefcom ’ 

302*148 TeWyn 
26 13* Tel rate J2 15 32 

48% 20% Telex 13 

39* 25* Templn 44 IX 8 


13 298 17% 17% 17* + * 

42 20% 20 20% + to 

13 82 68 67* 67* + * 

13161*1 3416 3116 31*— 2* 

13 763 15 14* 15 

8 282 59* 59* 59*— to 

7 119 3* 3to 3* + * 

9 327 244 341*344 -Hto 

32 312 22* 31* 21*— * 
13 853 43* 41% 42 — * 

8 532 34% 33% 34% — * 


25% 16* Wocttlt 40 30 177 19% 1»1» + % 

10% 6% Wafnoe *75 110 9* 9to 9*— to 

47* 33% WalMrt 08 4 25 1SJ4 M ay. » 

104 73% WlMrtpf __ 5 W6 1 84 106- +1 

54* 28* Watern 48 IX 17 344 52 5M* Sgb~ * 

22* 15* Wk HRs el A0 1H Mto 2Mb 2Mb 

38* 23% WaJCSv AS 10 17 198 35* 34% M4k 

7 22 Waltlm 1AQ +1 7 819 34* 34 3Ab— to 

9% 7* WalU Pf 150 TI5 TJOz 9* M tt + * 

48* 29* WolUpt 140 15 2 45% . 45* «*— * 

2Bto 17% Wamcp J8 45 11 40 HSb 21* 21% — * 

38% 77 WrnCm 2089 28 27* 27*— % 

39* 2S% WararC MUM W44 »% IT* M —to 


t-Z - . T.«C 


44% 3?* TeiMCa £92 +7 II 2340 44 43* 43* + to 


80* 65 Tencpr 7 A0 90 4 

35% 21% Terdyn 13 607 

20* nb Teaara A0 34 45 399 
36* 20* Tesorpf 2.16 9.1 4 


4 80* 80* 80* 

13 607 25% 24 24*— 1 

45 399 11* 11 11* 

4 24 23% 23% 


41* 31* Texaco 350 7X 37 6506 38* 37% 37* 
41* 32* TxABe 142 44 I 5 33* 33* 33* 




33* 33*— to 


47* 3Z* TexCm 146 44 7 1683 34% 33* 34* 


35* 36* TV Eat* 

25 Texlnd 

MB* Tex Inst 250 
1 Tex int 


27* 16% TexOGfl .18 10 
39 28% Txpoc Aft 14 
20% Tex U HI 


1683 34% 339% 34*— to 
8 1184 32* 31 31to— * 

14 33 29% 29 29% + to 

7 7286 110% 97 97to—m 
111 2to Zto 2to— to 
3340 T7* 16* 17to — to 


20* 14% WasDG s 1A6 X2 ■ 160 ZOto 20 2B6 + * 

28% IS* WshNat 158 45 8 126 27* 26* 2«%— * 

21* 16 WUfWt 2A8 H7 8 201 ZHb Zlto. M*— to 

54 27% Waite 58 15 18 511 52* 52 OTb + to 

28% 20 INatkJn J U 11 751 1W fflj »» 

72to fto WteyGos JO Zl 18 • -a - m 9*— * 

12* 4 weanU 56 to* it* MRb— to 

12% 10 Wean of 01 k _ 1 12% 12% lZto 

23* 12» WebbO 00e 15 12 135 Wto W* !«% + to 

40 29*WMsMk JO U IS 21 
57 30* WettsF 248 +4 X 622 

28% TBt WefFM 240 WA 12 T78 




50 21 M - X -9* 9* 9*— to. 

94 10* 10* MM— to 
01 k 1 12M 12* 12* 

20a 15 12 135 19% W* 19% + to 
JO U IS Zl 39to 39to 39to + to 
LAO +4 X 622 55* 54* 54% - % 


• • .’-K, 


29* 20% TcxlIH 




28% 2Mb WefFM 240 ISA 12 TO 27 Zi* 27 + to 
17* lOto WendV I 4? U 1* MW 77»b W* W*— to 

'is a® 1 " m ^ 

1* to WtAIrwt 1336 '.Ito _]to Jto .. 


Zto 3* Sto 


19 Bto WAIT Pf 250 10J 
19* Bto .WAN pf IM 115 
18* 4 WCNA 


26% Textron 1J0 +1 14 727 44* 43* 43*— to 


Textrpf 258 43 


TbermE 24 

ThmBt* 104 24 15 


2BU ThmBt* 104 24 
— - 12% Thom In 48b 42 
26* 13% TltmMed JO 27 


17V% TWwtr JO 
4* Tiperln 


8 Tlerlpf 
33% Time 


GERMAN MARK (IMM) 

S per mark- 1 point eoua la sxoooi 
0733 0905 Jun 0311 0382 0311 

0545 0930 sec 0380 0403 0362 

J6W 0971 DtC 0408 0422 0480 

0415 0040 Mar 

Est- Sales 37A51 Prev. Sales Z7J1I 
Prev. Day Open Int 47047 affi02O 



504013 504056 


504095 JMU5 
504150 


Z1J1 31.91 —.16 

3025 3053 — 06 

29A5 2900 — « 

2X71 2950 +05 

Z 770 2850 —55 

27.10 2705 

2+90 27.13 +53 

2+65 2750 +.10 

2+80 +.15 


SlUfER (COMEX) 

5500 trov at- cents per troy ax. 

6TSJ) 5572 Apr 6455 6655 

15135 5532 May 6648 6405 

14615 5625 Jul 66+8 66X5 

11W5 57X0 Sec 6775 6795 

12305 5905 Dec 69U 6845 

12155 5955 Jra 

119X0 6070 Mar 71+0 7IZO 

10485 6215 May 7090 7095 

9455 055 Jaf 7175 7175 

9400 6415 Sep 7325 7325 

7995 6675 Dec 7585 7505 

7895 7630 Jra 

Est. Sales 25500 Prev. Salee 17047 
Prev. Day Open Int 7X838 oftlASZ 


6435 64X5 -30 


6455 652A -09 

6585 <619 ~+2 

*735 67+9 —40 

_ 682.1 — L9 

4402 m A —+1 
6985 70X6 — SA 

71+0 7150 -67 

7385 7270 — +3 

7475 7460 -70 

75X2 —72 


SWISS FRANC (IMM) 

3 per tranc-1 point equals W5Q01 
AW8 0439 Jun AON AC77 0995 A075 

AJOO 0480 Sep A060 All* AQ35 A110 

AMS 0531 Dec jtOS 5156 5125 A1B 

-4800 0815 MOT 5188 

Est. Sates 79.905 Prev. Sales 16597 
Prev. Day Open Int 25,117 oft UN 


Industrials 


50to 35* 
12% 8 
30 19* 

26 IS 
23 16 

IBM 114b 

10 5* 

2* Ito 

34% 20* 
34to 21% 
35* 26% 
22 16* 

11 9 

10* 3* 
34* 22% 
26% 17* 
10* 6% 
10 * 8 * 
51 31 

2SV% 1H% 
□Mb 20% 
38% 26* 
18* 14* 
20* 14* 
Hto 94% 
9to «to 
13% f% 
25* 171% 
44* 33 
55 34* 

13% 7% 

JZto 2OT* 
60* 48% 
39% 29% 
16* lito 
43% 20* 
45 18% 

12* 9% 

lito IZf* 


SCM 250 40 13 
SLlnda job lJ id 
SPST ee .80 35 13 
sobfne 04 2 29 

SabnRy 2J4 160 
SfadBa 04 10 IS 


SfodSet 

SafKJn s A0 1 J 23 
Safewy uo XI 10 
Soso 02 15 12 
StJoLP 1J2 85 7 
SPoul 100 115 
vlSalont 

SallleM .16 0 15 

SOteOs XI 0 85 9 
SJuanB 07# 90 TO 
SJuon R 22 

Sandr 06 10 16 
SAnttRt 1J4 85 12 
SFeSoP 150 19 70 
Sara Lee 1A4 XS 11 
5aulRE 00 1.1 46 
SavElP U0 7J 7 
ScvEpi 123 1 10 
Savin 

Savfnpf 100 122 
SCANA 216 X4 ■ 
ScftrPto U8 30 12 
sehlmb UO XI 10 
SdA» .12 LI ZD 
Scanner 76 22 11 
ScotFet 10 

ScortP U4 30 9 
Scattyi 02 18 10 
scovllr 102 3J 14 
Sea Cnf A2 10 6 
SeaCtpf 1A6 126 
SeoCofBZlO 1X9 


1122 66* 
16 10* 
50 26% 
146 17* 
216 16* 
34 16* 
161 9* 
1 1* 
169 33* 
2013 31* 
598 29 


46* 46% + * 


K«h 10%— * 
26* 26* + * 
17% 17to — * 
16% 16* 

IS* 16*— * 
8* 9 + * 

1* 1* + to 
33 33*— * 

31 31* + * 

28* 28*— 4ft 
21to 21*— % 
10* 10* + to 
5* S* 

30% 30*+ * 
26 26% + to 

8% 8% 

10* 18* 

35% 36% +1* 
22* 22% + to 
25* 25*— * 
37to 37% 

18* Wto 
20% 20%— to 
II lito 
8 Bto + lb 
12% Wto 
25* 25% — to 
42* 43to + to 
38* 39to + * 
Hto lito— to 
26% 26% — to 
5B* 58* + to 
37* 37* + to 
13% 13% 

41to 41* 

35* 36 —to 
11* lito + to 
IS* lito— to 


45 8*. 
745 »% 
966 25% 
137 8* 
7 7ff>* 
532 36% 
366 22% 
3407 25* 
180 37% 
IS 18* 
78 20* 
32 infi 
166 8% 
5 12% 
950 26 
1238 43% 
6870 39% 
283 11* 
134 27* 
162 58% 
1063 37* 
203 14 
12 41* 
190 36* 
27 11% 
21. 70* 


48% 48% 

9% 9% 

24% 24% — * 
. 36* 36* — M 
6to 16% 76* 

ttjrsr 

17to 17% 

9* 9* 

33% Time 150. U 16 1760 56% 55* 55*— to 
1C (O* Tim I pfB 107 15 1 99* 99* 99*—* 

23% 12 TtmplX IS 38 16* 16* 16* 

51 34% TlmeM 106 20 15 455 50% 499b ‘ 49* + to 

59* 47* Timken 100a 36 16 12Z 50* 50% 50* 

39* 28% TodShp 102 +3 6 110 31 30* 30*— * 

21 14% Tokhms AB 2A 11 21 20* 20 20* 

If* UN TotEdla 202 ISA 5 501 18* 1«U 78to + to 

— 24* TolEdpf 3J2 13J 66 26* 26* 25% + * 

72 TolEdpf 3JS 135 ISffl 27* 26% 27% 

Kto 20 TolEdpf 3A7 135 18 25* 24% 25* + * 

31% 25* TolEdpf 428 130 4 30* 30* 30* 

17* 13% TolEdpf 206 120 1 17% 17% 17% 

17% 13* TolEdpf 221 130 5 16% 16* 16% + to 

35 13% Tonkas 14 02 32* 31* 31*— to 

41* 17% TootRol A8b 10 13 29 41* 41% 41*— to 

48 19* Tretwns 150 Zl 14 543 47* 47% 47* — * 

107* 92* Trefipf 11590104 43 104*106*105* +1 

17* 9* ToroCo A0 17 9 IS 14* 14% 14* 

4* 1 Tosco 

2D* 8% TOWN . . _ 

35% 24% TayRU s 26 1948 34* 34* 34* 

35* 19* Trocar 




34* Wnuirpf 

65 26 WnUpfC ' 1 

Sto 2% imiupb is 

15* 4* WnUpfE . 60 

20 WRJTjpf . 1 

ai’ffi.fc' 

S*SsES-g"“aS 

31* 6to vlWhPIt 1145 6% 

41 14* VlWPttpfB '1330* 17* 

38 10*vlWhPttpf . 2168x13% 


*5 'a « i s** 

*2 & iK 1^-* 

107 if* If* 19* 

”imSisntoinw~. 
1162 ~ — 


• rrt 

re 


"BLito 

j *- * 

• 7* 

26N + W 


: - ft 


*"4 5* 
'KBS 


'* fij 


• •• 


43 106*106*106* +1' 
158 14* 14% 14* 


* lun vimrn pi lira im n we Tie • 

49* 36* VYhlrtrf 258 40 9 1714 44* 44% 44% — to 

34* 24* WhltC 100 50 66 27 26* Mb 

49 47* vmttCptMM +3 3 47* 47to to 

«* 36* WMtCpfOji 70 10 40% 40% 48% 

271% 17* Whrtehl ID 24 24* 34* 341b + to. 

35* 14* WMtfafc 00 20 10 318 33% 22* 22% — to* 

12%. 6* WlebWt 40 65 10% M Wb „ 

14* $ WUfrdn 11 250 10* W% 10* + .%*• 

31* 22% WTfftam 1A0 40 7 2D72 30* 38% 38* * 

5 2 WlfmBl 220 S 4% 4to— to- 

7V% a* WtWbro .10 1A 16 32 7* 7 - 7 — * 

^ 25% WlnDbc 108 45 13 114 35* 34% 34to— to 


-::c.r \ - -. ,% 


Currer 


536 1* 1% Ito 

163 9* 9* 9* 

36 1948 34* 34* 34* 

11 M 180 31* 30to 30* 


15 Ilto TWA pf 225 1 52 
25% 16* TWA PfB 205 7.1 


77 6973 13* 13 


»% 20* Tronsm 144 U n 824 30 


175 14* 149b 14% 
329 25* 341% 24% 


ivw wmbrn in +b 13 114 S5» 34% new— w 

20to 7% Wlanba .10e 0 14 307 17% 16* 16%— % 

13* 5* Wbmer ‘ • 22 1213 8 “78% 8 + * 

73b 3% Winter J S3 4* 4* Mb + %. 

33* 25* WNcEP 208 60 8 136 34 33% 33% 

81 48* WtoE pf 800 110 62Br 80 19% 79% . 

74 57* WBEef 7J5 M3 7B* 75 75 73 +9 

M% 25* WttCPL 206 70 9 135 >4* 34* 34*— % 

OT4 24% WhcPS 256 75 8 ' 136 33% 33% 33% + % 

40* Z7* WttOP IAS 40 8 229 34* 34 '34* + to 




620x80 79% 79% . 

TBz 75 75 75 +1 

135 >4* 34* 34*— Mu 

136 33% 33% 33% + %’ 
229 34* 34 '3Gb + % 


20 16% Tran Inc 202 110 

12% IOK TARWy IOQ 12 14 


23 19* 19% 19% + * 
14 12% 12% 12%—* I 


S7% 37* Transca XI 6b 30 10 670 55% 54% 55 


Z7to witco 1A8 40 8 229 34* 34 34» + » 

Wto 9* WaivrW 04 2A 30 69 10 9*10 +* 

W IMWHdPI 50 15 15 502 22% 22* OT6 + *, 

43» 271% Wolwth XOO +7 9 395 «* 42% 42% — % 

61 47lA Wnlw nf 7 7n 77 7 4014 OtlL 406 - 


, ~ *•’ 7 | 

1 • p» 


66* «to Trnscpf 307 60 62 64% 64% 64% 

2S% 19* Tran Ex £20 90 114 22% 22 22* + * 

13V. 6* T ruiuu i S 71 10% 10% 10% 

63 TrGPpf +65 X9 110x 74* 74* 74* 

TL ILSZ * Hi .li >ota “S* or* 89* + * 

2J% 20 TrGPpf iso US 5 23% 23% 23% 

l??? J?* 13 9 12* 12* 12* .. 

36% 28 Tranwy 150 50 10 3134*34*34* + * 

2E5 I"!? 1 *, ao 10 11 1143 33* 33 33% + * 

17% 14% Twkfpf 100 100 2 17% 17* 17% u 

45* Travtor 254 +9 9 5463 41* im 4- * 

SI* SO* Travpf +16 XI 113 51* a* 51* 


61 42* Wofwp f 200 X7 3 <0% 60% 60% 

*6* 46% WrWy UOa 35 11 59 6T* 61 61 — to* 
6* 3* Wurtter 21 4% 4% 4% ... 


- j ', nw uo a 4% . 4% ' 4% 

8 io% WyleLb 02 20 10 18 m% U W* + %. 

23to 17 Wynn* 50 30 7 157 IS* IS* 18*— to' 

66* 33% Xerox 300 14 It 3K7 47* 66* 4ff*— to. 
S 65% Xerox pf 5A5 Ht5 34 57% 5T% 4Tto + *’ 

29 19 XTRA 04 20 9 21 26 - 25% 26 


HE 3" wss- — 24 57% ST* ilto+ *’ 

29 19 XTRA 04 20 9 21 26 25* 26 

30 24 ZdeCp 102 00 8 46 36% 2*' 26*-% 

24* 13* Zapata 34 50 18 128 15% 15% 15% 

59 30 Zavrn ASb J IS 386 59* 58* 59 

31% 18* ZentthE 7 1026 22 JM 2W%— % 

21* 14* Zeros 17 36 18* 18* 18*— % 


* ■*» 


51* SO* Travpf +16 XI 


36% 26 26*- %■ 

15% 15% 15% 


21* 14* Zeros 


157* 107* 

153* 103% —50* 
150* 150* -50* 
154% 154* 

157% 157% —50% 


Livestock 


CATTLE (CMC) 

<0500 R>+- cent* per lb. 


*»xo 

5970 







6277 

Jim 

6+35 




6727 

63.15 


6470 


rtrt 


65J90 

6140 

Oct 

<282 



6785 

6340 

Dec 

6X95 


MK 


6745 

6+00 

Feb 

6440 

6585 


A5L05 

4747 6575 Apr 6S4S 66X0 

Est. Sales 1X296 Prev. Sales 19,163 

6545 

6+00 



28X90 28X70 +400 
3*7X0 28420 +408 
283X0 28700 +400 
29050 292A0 ++M 


30280 30X30 +400 



X00bd.ft 

May 14600 147A0 13900 13900 — SJ» 
Jot 151X0 158X0 150X0 15000 —5X0 
Sep 15923 MOJO 15220 15220 —500 
Nov 1*000 U0J0 15200 15200 — 5X0 
Jon 165X0 14500 15800 15800 —5X0 
MOT 168X0 168X0 16300 16300 —5X0 
May 17X89 171X8 16600 16+30 — 4JQ 


Pane Commodities 

April 18 


London Commodities 

April 18 


Asian Commodities 

April 18 


Cash Prices April 18 


9016 DP 401 

COTTON 3 (NTCE) 

5C«oto*, cents per Ox 


11X49 10900 1ML9S 
11250 18950 W90S 


1I2JKJ 17000 Mfjg 
11050 110X8 10X95 


7*70 

6+26 

May 

7985 

6285 

Juf 

7MB 

6682 

OcJ 

73X6 

6+61 

Dec 

7675 

6570 

Mar 

7+00 

6+41 

May 

7005 

6+30 

Jul 

Oct 


68X0 6X17 
6631 6+M 
4X00 6503 

65.22 6550 


Prev. Day Open lot 58.981 off 84 
FEEDER CATTLE (CMC) 

4+000 lbs.- cents par 1b. 

7+20 6+55 Apr 6S05 6500 

7X75 6+80 MOV 65X0 6547 

73-70 4600 Ana 6705 6803 

73X0 47X0 Sep 4700 6X20 

7202 67-10 Oct 67 AS 6705 

73.20 6700 Nov 68X5 6X65 

_7 V40 69X0 Jon 69X5 69X5 

Est.5aiBs 1A44 Prev. Sales INI 
Prev. Dav Open Int 8091 off 30 
HOGS (CMC) 

30000 lbs.- cents per lb. 

5+45 4X40 Apr 4350 4300 

55.40 +7.74 Jun 4805 4X80 

55J7 4X95 Jul 5005 5070 

5+37 4700 Alia 50-12 SO.40 

51.75 45X0 Ocl 47X5 47A0 

M 4600 Doc 4X35 4X55 

50X0 4403 Feb 4800 4X90 

4705 45X0 APT 450S 45.97 

_ 49.05 47X0 Jun 48.10 4X2D 

EsI. Sales +838 Prev. Sales +300 
Prev. Dav Open inL 2X843 off 331 
PORK BELLIES (CMC) 

38X00 lb+- cents per lb. 

KXO 61.15 MOV 65AD 6505 

BX47 6X15 Jul 6+35 6+90 

8X65 6000 Aaa 6+70 6500 

7+20 4X15 Feb 71X0 71.70 

75-40 6+no Mar 7130 7130 

7500 7X40 May 


GOLD (COMEX) 

100 troy ax-doMorsper troy ax. 

51+M 28240 APT 331X0 331X0 

327X0 29X00 May 

510X0 287X0 Jun 332X0 33360 

«5X0 29U0 Awo 338X0 338X0 


493X0 297XO Oct 341X0 34X50 

409.30 301-30 Dec 347X0 34701) 

«50O 306X0 Feb 35+00 3S0XO 

49+80 31+70 APT 35X30 35+30 

^70 320« Jun 39900 35900 

«8A0 331X0 AuB 

39+70 335X0 Oct 37100 37200 

393X0 34X00 Dec 

EW. Soles 30X00 Prev. Sales 2*069 
Prev. Day Onra int.123033 up298 


6+85 65A0 
65.10 6557 
67.92 68A6 
6760 68.17 
67A0 6705 
68X5 6865 
6905 69 A0 


Financial 


4300 43A5 
4800 48AS 
50.17 5045 

4905 50.15 
4+90 47X0 


US T. BILLS (IMM) 

51 million- Pts of too act. 

WX9 B7.II Jun 910* 9205 

209 8604 Sep 9103 91J7 

97.M 8577 Dec 9126 9122 

*76 8+60 Mar 9079 9093 

9001 87X1 Jun 90L59 9Q64 

9025 RJD Sep 9034 90X6 

E-S 2-S RP 6 ”•>• ,0 - 18 

.*R 8908 Mar 

fsjss — uxmstzsr 

gn SI. i£ S'” B1, 

g-13 Dec 30-5 80-9 

S23s Mar 79-14 7V-M 

»« Jim. 7M6 78-27 
|«t. Sales Prev.Sales +276 

Prev. Day Dora InL 41X13 up 212 
“ s TREASURY BONDS (CBTI 

I ? & 53 sa 

5t?2 S'L “ or “■« 49-19 

Si* 68-26 

2SL Sen 48-1 6B0 

JHJ SW Dec 67-fl 67-22 

69-12 56-27 Mar 66-26 67-2 

J* E £ » » 

S*Mw _ Prev. Sates is 01 7 

Prev. Day Open IntZl+BlO gW7V9 
GNMAICST) 

■1 00*000 prln* ots & 32mls<rf loo per 
£2® 2'J 7 Jun 7W 7iwo 

JET- 5? gS ^ *• 

JM g« Mar 

S3 5* S *“ t7a 

g^sg** . ptuv-sot** m 

Prav. Day Open int. UM up 27 

CERT. DEPOSIT (IMM) 

SI million, pb M 100 PCI 

522 9T ' 41 9iA5 

”A7 83X0 Sep 91X8 91X8 

9004 8504' Dee 9054 mu 

JUJ Bar 90.18 9018 

B904 8+43 Jun If J2 89X2 

R34 8706 Sen 8900 8900 

B8J9 8804 Dec 

gtf-Satw. PwSalra 449 

Prev- Dav Ocen Int +493 up 30 


4800 48X5 
4575 4545 
48X5 4+15 


7+00 7090 Jul 

Eat. Sales 4,940 Prev. Sates +ora 
Prev. Dov Open int. 1X400 up 232 


4+50 6515 
6570 6+57 

6+40 6515 

71XO 7105 
71X0 7000 
7X00 
7X311 



9102 9X18 
71-53 9TA9 
9123 9125 
90J9 90X9 
9009 9060 

9034 9035 

9018 9015 
890S 


Est Sates 2JOO Prev.Sales U92 
Prav. Day Opm Mt. 15040 off 130 
KEATING CM L (KY ME) 

42000 ua>- craft aeruaf 
8X40 6+00 May 7+60 75.15 

7+40 *300 Jun 7105 71X0 

75X0 65-35 Jul 7085 71.10 

7550 6+25 AUC 7+50 71 J5 

7+4S 7025 Sep 71-75 7100 

77.10 7200 Oct 7200 7280 

Nov 

7805 7X80 Dec 

7400 7+70 Jan 

Feb 

Est-Saies Prev.Sales 11058 

Prav. Day Open int. MXM up 1+15* 

I CRUDE OIL(NYME) 

1X90 &«.- donors per bW. _ 

30X8 2+28 May 29X0 29X3 

2905 2+20 Jun 2707 2SJXJ 

2904 24.10 Jul 27A8 2706 

2907 34XS Awo 27X0 2700 

2900 24X6 Se» 2+98 27X8 

2900 2+40 Ncv 2+90 7725 

2900 2300 Dec 27X2 2700 

Est Sales Prev.Sales 1PA7B 


MWi Low Bid ANC CA'OC 

SUGAR 

French francs per metric tea 
AUO 1272 10S5 1X5S 1040 4-5 

Ocl 1010 1090 1085 109} — s 

Dec N.T. N.T. 1030 1045 —13 

Vor 1A35 1A35 1A20 1A30 -15 

May 1A80 1A80 1A45 1080 -18 

OCT 1040. 1065 1045 1050 -10 

Est val.: 385 lob of 50 loas. Prev. actual 
sales: 665 lots. Open Interest: 1+25* 


7+20 7607 
7U65 7107 

7000 71X1 
71-25 7101 

7208 7X65 
. 7300 
7+50 
7500 
7+10 


for-Q A 

French troops per 108 ke 
MOV 2055 2 205 2010 £212 —9 

Jly N.T. N.T. X22D 1200 — 20 

5*0 1190 1165 1159 1165 — % 

Dec 1100 IWO 1110 Z1B0 +9 

Mar N.T. N.T. 1090 — +15 

Mav N.T. N.T. 1100 — +10 

Jlv N.T. N.T. X100 — +13 

Est. vet.: 188 lets of 10 tons. Prev. actual 
sales: 105 lots. Open interest! 797 i 


3+90 29X3 
2774 2706 


2774 2706 
2701 2707 

3600 38 


COFFEE 

French francs per 110 ka 
MOV 2AI0 1360 3010 3050 —SO 

JIV N.T. N.T. 1360 2090 —77 

Sea 1485 1423 2A10 7X30 —70 

NOV 1450 1450 £435 14*5 —57 

Jra 1460 2A60 2AJQ 1480 — 35 

Mar N.T. N.T. 2AOO — — 60 

May N.T. N.T. 1400 — —45 

Eft. voi.: 44 lets of 5 Ions. Prav. actual soles! 
19 kits. Open Interest : 189 
Source: Bourse Oh Commerce. 


Prav. Day Open Utf. 50,164 up 1X76 


Close Previous 
Hleh Lew 8M Ask Bid Ask 

SUGAR 

Sterllao per metric ton 1 

Mav 10700 105X0 T05A0 10500 10+20 10+40 1 
AM 11300 111X0 11100 11140 111X0 112X0 I 
Oct 117X0 11400 11500 173.40 1154011+00 
Dec 12X00 121X0 12100 12X40 12100 123X0 1 
Mar 134+0 13X00 13300 13300 134.00 13+20 
May N.T. N.T. 178X0 13940 13+80 13940 , 
Aee 14X40 14X40 163X0 14540 14440 145X0 I 
Volume: 108* lot* at 50 torn. I 

COCOA 

SterllM per meh-lc ton 
May 1040 1X06 1.907 1.909 1006 1008 

Jlv 1015 1096 1096 1X97 1088 1090 

Sep 1067 1045 1047 1048 1041 1042 

Dec 1006 177S 1J94 1,795 1771 1772 1 

Mar 1004 1790 1791 1772 1.789 1091 

May 1001 1000 1793 1000 1770. 1095' 

Jtv 1015 1415 1790 1005 1,780 1000 

volume: 3094 tars ot 10 tons. 

COFFSS 

Sterl In# per metric ten ! 

May 2060 l.W 1.984 1,987 2050 205* 

JlY 2.105 2015 2025 2030 2094 2095' 

5#P X1S0 2055 2070 207S X135 X138 

NOV £170 2080 3097 2098 X1S5 XI 60 

Jan X170 2090 XI 02 £107 £152 £159 

MOT £143 2079 3080 2094 £122 X13D 

May £115 207D £060 2070 £115 £120 ! 

Volume: +9H2 lots ot 5 tons. 1 

GASOIL 

U0. dollars per metric tan 
API 22975 327.75 22905 22975 99 It 74 22+50 

May 22775 22375 22775 22740 22575 225.73 
JUR 22X40 221X0 22775 22200 227.75 22200 i 
Jly 223X0 22+50 221.00 22175 22171 22X00 I 
Aee 22500 224X0 22375 2247S 22+50 225X0 
Sep 22550 22540 22500 228X0 226X0 22775 . 


KONG-K0KG GOLD FUTURES 
U-SSper ounce 

HIM LOW bS°”a* > 

ffiL- K J- N.T. E40O 12+00 32700 r^0O 
May _ N.T. N.T. 325X0 JZ70O 32+00 330X0 
Jun _ N.T. N.T. 32700 329X0 33000 332X0 
Auu _ 333X0 333X0 33100 33X00 33+00 33600 
Oct _ N.T. N.T. 336X0 338X0 33900 34100 
Dec - 341X0 34100 340X0 34200 34400 346X0 
^ , K-T. M+Q0 34+00 369X0 351X0 
volume: 22 lots of 100 at 
SINGAPORE GOLD FUTURES 
U4J Per ounce 

Prev. 

HIM Lew Settle Settle 

Aol N.T. N.T. 32+50 72+40 

Jun 329 AO 328.00 32+00 329.90 

AllS N.T. N.T. tB« 334,40 

Volume: 176 lets of 100 ox. 

KUALA LUMPUR RUBBER 
Malaysian cents per kiki 

Jgeee _ Previous 

Mav 191X0 19175 19X75 1^5 

Jirn 19440 19475 19+50 19S0O 

Jly 79740 I78J0 19740 19+40 

AUB 20040 20140 20040 2DZS0 

^ateS^la,^ «L40 20440 

SINGAPORE RUBBER 
StMopora cents per kilo 

Close Previous 

Bid Ask Bid iuk 

RSS I May, 16740 16+00 169.75 17025 

RS5lJun_ 170.75 17175 173X0 17X50 

RSS2MOY. T67X0 16+00 16+50 16940 

RS|3Mav. 165X0 16+00 16+50 16740 

R5S4Mav. 16100 1*300 16240 16440 

RS5 5 Mav_ 15+00 15+00 157^ 19UD 


Commodity and Unit 
Coffee 4 Santas, lb 
PrlnJdoth M.'X 38 *, vd __ 

Steel bill# Is (Pittj. ion 

Iron 2 Fdrv. Philo, ton 

Steel scrap No I hvy PIN. _ 

Lena Suet, 1b ■ 

Owner elect, lb 

Tin (Straits], lb 

Zinc, E. Sh i- Basts, lb 

PaCkBKum.oi ... 

511 ver N.Y.ra 

Source: AP. 


. . . Year i, ‘ 

Tim Aon 

107 >Al 
045 044- V. 

473JW «30S >6. ■ 


■-> -. r ^>n«r 

V Ce 

'a- . 

.V 

kh. • : • - « 


21X00 21X09 

79-80 1 00-101 •; 

20-21 26-28 

' 71-74 75%^ %. 

HA. ft»7 i !■ 

DA5-.47 +» -- 

11T-1T9 >«to 

HA.. «3I • - 


HJL • 931 


London Metals 
April 18 . 


ALUMINUM 
Stori*M Per metric ton 

»Ot 86400 I 

forward 88000 I 


previous 
BM Ask 


teres 


86500 g MISl 86740 
861X0 888X0. 88940' 


•taward 880X0 881X0 888X0. 88940 


tt0r ? Hen.,.: 




metric tan 

1-172X0 1.17+00 171400 
1.157X0 1.157X0 1,191X8 1,17130 




WPPER CATHODES (StradanO 
SferflM per metric Ira 


Dividends April 18 


22940 22940 238X0 W1X0 22700 23000 
NOV N.T. N.T. 229X0 3+00 22HX0 23X00 
Dec N.T. N.T. 230X0 238X0 22800 TV! nr 
Volume.' 108< lots pf 100 tons. 

Sources.- Reuters and London Petroleum Br • 
chanom foeaolU. 


81-34 81X6 
BO-26 80-21 
80-1 80-2 
79-9 79-10 
78-20 78-29 


(Indexes complied shortly I 
SP COMP. INDEX (CME) 


paints and cents 
189.10 15+10 Jun 18370 1B3J0 

19X70 16000 Sep 15735 1BM5 

19+40 17+70 Dec 19045 19045 

19+30 190.TO Mar 19175 19375 

Eit.Sales Prev.Sales 52A2S 

Prev. Dav Open Int. 52762 afflX20 


7W 72-7 
71 71-5 

70-1 70-7 

69-10 69-12 
48-20 68-20 
47-31 47-31 

47-8 67-12 

66-26 66-27 
46-11 66-11 
65-29 65-29 
45-16 


18100 18X25 
18S4C 18520 
18+80 18*40 
19375 19375 


VALUE LINE (KCBTl 
points and cents 

219J0 17300 Jun 19900 19900 

21X30 185-75 SOP 30X60 20280 

Est. Sates _ Prev.Soka 3701 

Prav. Day Oara InL SS9Z affSU 


19680 19700 
20148 20180 


Alberta-Culver Co 
Conroe Corn 
GTE 

Hawaiian Elec Ind 
Indiana Nall Carp 
Lubv'i Cafeterkjs 
MortBoae & Ritv Trr 
NCR Carp _ 
Science Mel Carp 
UnlFIn) Coro 
Vermont Amer A B 
vorlac Carp 


Per *mt 
INCREASED 
Ca Q .09* 
a .in 


KUALA LUMPUR PALM OIL 
Malaysian rt o petti oer 25 tons 

Close Previous 

BU Ask Bid Ask 

MOV 1480 1J7D 1/00 lj5> 

J“P 1480 1-431 1083 12X1 

Jly NX N.A. 1000 l!S 

AUB 1 J00 1040 1000 i3o 

1090 ,So iSo j^0 

Oef 15*0 1320 1780 1 JM 

NOV 17B0 ] J20 1780 1020 

J?" 1070 1J10 1770 171Q 

Mar 1770 IJTO 1770 Uio 

Volume: 0 lots of 25 tons. 

Source: Reuters. 


5- 30 5-3 

6- 15 +2* 
7-1 5-22 

6-10 5-10 
6-21 6-7 

6- 34 6-7 

5- 20 +29 

7- 26 +14 

6- 14 S-I7 

6-1* 5-15 
5-24 5-3 

56 +29 


DM Futures Options 
April 18 

W Goman Mark-12S0OO mHa. cam per mvfc 


forward 

LEAD 

Sterling pi 

soot 

forward 

NICKEL 

Sterling pi 

soaf 

•onward 

silver 


1,159X0 1.14X00 170X00 1^4£ 
1,15+00 1,159X0 1,19700 170280. 


‘ metric ton 

30X00 304X0 30600 3W80 

302X0 . 30240 38640 30540 


’d.. t * m 


mwMcUm ■ 

I3JBJB UiMB 4*3SuU 
+710X0 +22+00 47UL0O 471540. 




69840 500X8 509X0 ST+M 
514X0 516X0 521411 52SJ8 


™ nwu 51+00 51+00 .52340 

TINistandard) 


V i-. v 


*J"1lag per metric..^ . 

W 9 MflQQ OJOflJQ 

9X15X0 9X20X0 9X10X0 9X15X0 - 

5SE**"* aecnielrteloe Ji 

*87X0 690X0 707X0 

^ rword 681X0 moo 69+50 «W» 

source: ap. 


9X45X0 9X5+08 9030X0 9X40X0* 
9X15X0 9^X0 9X10X0 9X15X0- 


Stroce Cads-5ettt* Ptns-Settte 

price JM See Dec JM Sep De 


+65 +80 — 


NYSE COMP. INDEX (NYFE) 
points a nd c e nt s 

11000 90X0 Jun 10540 10+90 

111.90 91X5 Sep 10900 W90O 

11X75 10170 Dec 11080 11080 

11245 11 L10 Mar 11X95 11X95 

Est. Sales Prav. Safes 1+76B 

Prev. DavOoen Int. +942 Off 1.161 


STOCK SPLITS 


10340 10585 
10770 10+00 
11080 11080 
113.SS 11X95 


ProvWral Life — 3-tor -1 
Sotocd ProduUs Ce — 2-for-i 


31 £82 

33 1.98 

33 171 


380 188 +30 CUO 073 075 


VJS. Treasury RQ Rates 
April 17 . 


VV 


009 US 045 
876 D4» an 


171 783 271 041 0.90 — 

0J2 1J* l.W 0.72 147 — 

041 OlW 175 142 £10 — 


IN 7+6 
49-14 49-U 


AH Bale stirs Cola 
Archer Daniels MJd 
Bank pf Delaware 


Bergen Brunswig 
CCB nnancial 
Claroit Co 

Henraden Furniture 
Mesa Pefroieum 
Midcan 0« 4 Gas 
Midwest Erarov Co 
NewftaU Ld Farm 
Puget Sound Bb 
*m Jose water 
Southern Union 
Sattaca Products Ce 
Trans MI Pipe. Line 
WescaFfnanetoi 
Woedstrsam Cora 
Wyman -Garden 


— 8B-10 

87-24 67-26 
0-12 


Commodity Indexes 


9141 91J* 

9048 91X1 
«48 904? 

90.18 9000 
8982 89X3 
8940 8944 
89.15 


Close 

Moody's — - - - 951 JX) f 

Reuters ■ ■ 1,88+50 

OJ. Future* 122.98 

Com. Research Bvrwu- NA 

Moody's : base 100 : Dec 31. 1931. 

D-DreUmfnary: f-ffnaf . 

Reuters : base 100 : Sea. 18, 1931. 
Oow Jones : base 100 : Dec 31. 1974. 


Previous 
9S+10 f 
1X8240 
123.11 
24190 


70 6*14 5*3! 
03 * 5-28 M 
70 +10 3-23 
8 +1 M 

22 7-25 6-28 

74 5-15 5-3 

73 8-1 7-12 
05 5-1S 5-1 

75 4 X 4-25 

49 6-1 54 

.16 6-3 6-38 

78 6-IT 6-5 

72 * +1 5-1 

43 6-15 6-1 

-34 6-10 6-17 
.12* +30 6-S 
.15* 64 SX 

.10 5-15 5-1 

20 6-10 3-31 


Estimated total WL 1X512 

Colit: Wed.veL4.lBepMW.V.ni 
Puts: We+ *0L X114 open nr. 234M 
Source - CME. 


| Source: 5Wwnfln Bmiweft 


Bid 

9m 

VJeki Yield 

776 

8X5 

823 

887 

LSS. 

M3 

U8 

a* 

881 


I 

* 


: S&P 100 Index Options 
April 17 


A-Apnaai; M-Momhliy; 
SemM-AonuaL . 


(Mjuarterfy; S- 


Swiss' Trade Deficit Ei^ber 

Reuters 

BERKE — Switzerland had a 
trade deficit of 991.7 mHlinn francs 

(S391 million) in March, after a 
665.9- mil lion-franc deficit in Feb- 
ruary, the Federal Customs Office 
said Thursday. The deficit in 
March 1984 was 973.2 million 
francs. 


U-^y. Firms Trim in Malaysia 

Reuters 

KUALA LUMPUR ^Thirteen 
U.S. semiconductor companies 
with total investments in Malaysia 
of SS0 million ringgit ($348 mil - 
lion) have cut production and jobs 
because of a slump in the world 
microchip market, ^spokesman for 
the companies said Thursday. 


Fa M arc 

m 5S L !*■ 2?* >/% % * 

■ S* Wv k £ s* is a 


- 1 - 
is n 
'U c 
IB • 
Its 
*4 




i:e 

*. 848 


HWn» UvtO+il beRI77.H 9866 

CMOS. 


kk 














U.S. Stocks 
Report, Page 6 




3?StS* 

ini: 

€ sM 
I 55 Sx tiu'I 

iiw'- 

V aS. w 12 ’ft g£ A., 
n^« iij 4J in Jj T/J Jji JV i 

ssSMHts 

! 17%, ft • 

* '53 » aSSsk 

=« 7^5 25 1 1 «r5 h SS*t 

” <y. “ 


Awut »3^ifei'.rj»v fw ii w w «*w pj» - 

«Mtk hljhiflwjr.lt tae Wt MM Pit 
urn KIM. - R*-..CM«K*M. Ml 
HVtC iiWM w* mm mm PM 
CMwflM P.li P. * 

(ynannK ft« «w P.» 

P.N OTC J*w» Ml 
«• OWMUli P.U. 


ReralbS^Sribunc. 


BUSINESS / FINANCE 


FRIDAY, APRIL 19, 198S 


* * 


Page 11 


TCCHNOLOGY 


sm 


'Smart’ Credit Cards Offer 
Hi-Tech Traps lor Thieves 


3r 
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Inf 

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1*4 

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1 $!§§:. 

71 jL d a.. * 

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IS 'll '5» 

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S '* « *7 

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S 4 * 1 $ j3* '«* ¥ 
» M * *S 


By DAVID E. SANGER 

.. A-'<w York Took Service 

EW YORK — Credit cards used to be simple. First 
Acre wasjust the plain,- plastic card, embossed with a 
somber. Then came ibe magnetic strip, three tracks of 
encoded data that identify the cardholder, speed credit 
approvals and make it possible to get cash from a teller machine. 

Now U.S. companies are starting to toy with the French- 
designed "smart card,” the orediT card bearing an embedded 


N 


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I S'llt-j 

Hills 

•3 S >9% pSS 

32 13 jL S 

« ijoo H ’| *S s & %-•• 
S £2 U i5&$ ^ 

iS gf ■ 



**pf 125 

SR "® 
SUS3 

% ’3 

w ** 
fFd iSi 


Hie smart card 
guards against not 
only fraud, but 
over-indulgence. 


62fc 

a “S * 5"! 
*» Bis A V 

* SEILS:- 


1 * 8 


5SS5i 3: 
7 '*> 5L Si: 


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d nicr 


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4? >ns 
£88 44 


gS. 

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,«nfcS!s.: 

3701 gj Srt «*, 


2ft: 4| 


Ml.! 


» 211 * U . 

■laSk. 


JB, 

38* « S* 

& K&S 


sr - i-s? 0 ^ 

U L P. 13 M 

ha IS Si 

tS 135 ?a 

Com i.ij 

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5™. ,■£ »■# » 

■£*2 J 2 J na 
■7 Pf 9JS 1 \ a 
Ptj 7.73 l ia 
5PK 7 JO lfj 

<s 

no “ in 

OBM 2J» U II 
UO U ; 

JR 9f 4J0 ioj 

*v* .» 2j n 

**£ - 40 “ 177 ml * K, .. 

KS A. *25 110 S 'JJ *1. 

SJfTot - 38 ■‘ a, *U 2 ££ 

tarn at 1 J 17 id ’S5 Ik lit • 
HRsal^O JtS g, SlHjk 

“"asf'lfc' 

as*i48 u • mb SS5**-; 

124 T3V, ig- 

FI 
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B ,3TB 8 
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S&‘ 2 BS’^^Sjh 

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li’B’SI 1 
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„ » 1211,131*®. 1 

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40 7% * rT 1 
1 


user's signature to a credit limit and a record of the card’s last 200 

transactions. 

Smart cards have been a 
long time coming. But this 
summer, Mastercard Interna- 
tional Inc. will stan distribut- 
ing thousands of them in a 
pilot program in the Colum- 
bia, Maryland, and Palm 

Beach, Florida, areas. Wheih- 

er consumers will ever develop 

much enthusiasm for the cards, though, is still an open question, 
and a host of technical and social problems have yet to be faced. 
Moreover, even some credit card companies are unimpressed. 

“It has best been described as a solution without a problem,** 
said Kathleen Lavidge, vice president Of funds access services at 
American. Express Co. “Ann it's very, very expensive.'* 

But John C. Elliott, the executive vice president of electronic 
services at Mastercard who is head of the Maryland and Florida 
experiments, disagrees. “If smart cards work, we're going to solve 
a lot of problems fast,** be said. 

Chief among them is fraud. 

Making illegal use of a credit card these days does not take 
mucb lalenL While credit card companies have made counterfeit- 
ing efforts more expensive by placing bard-to-reprodnee holo- 
grams on some cards, thousands of faltcs abound. And most 
Lhieves are guaranteed at least a few hours’ shopping spree before 
transactions on a stolen card are halted. That leeway cost the 
credit card companies hundreds of millions of dollars last year. 


T'| LfT couni 
KC property 
-»-k pockets v 


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21 2* S* * 


LFT counterfeiters wd! find it expensive, at best, to install 
encoded chips in their own reproductions. Pick- 
will face an equally difficult problem: before the 
merchant's terminal wiB approve a purchase, the user of a smart 
card must type a code number, like the kind used in bank teller 
machines. 

An algorithm to approve the code word will be stored on the 
chip, m eaning that the passwordwiB sever have to be transmitted 
to a central computer. That reduces the chances that even a thief 
well versed in the art of tapping data transmissions will get the 
code. And a stolen card’s chip will be rendered inoperative as 
soon as someone tries to make a purchase. 

The card guards against not only fraud, but over-indulgence. 
In the debit card expe rimen ts conducted by the Bull Group in 
France — where more than 3 m3hon smart cards will be in 
circulation by the middle of next year — the user’s available 
funds were recorded in the specially designed Motorola 6805 chip 
embedded in the card. With each purchase; a transaction record 
was written into the memory, and the purchase amount was 
deducted from the available funds. 

“What we’ve discovered is that the variety of information you 
could store in the chip is endless,” mid Paul Wittfdd, vice 
president of marketing for Micro Card Technologies Inc., a 
Dallas-based subsidiary of Bull that says it now can produce the 
cards for about $4 each when they are purchased in large 
volumes.-.., > 4. it . .... . 

Still, skeptics abound. *T don’t want a card with my history in 
it,” said Spencer NUson, publisher of a credit card industry 
newsletter. “I don’t even want a magnetic strip." 


Currency Rates 


14 16 
48 13 
6 1* 
22 


UB fO * « K E 
84 S5 » asss:) 


Amsterdam 

(ratniila) 

Front, furt 

London (b) 
NUMB 

New York (O 

Ports 

Toby# 

Zurich 

iecu 
1 soft 


I - 

8 

Wt 

PS. 

ltL. 

OWr. 

ns. 

04435 

4048 

ra.335* 

7>a&- 

017*9* 

— - 

i*12* 

41-34 

7790 

2B.U25 

4601 

MSB* 

I78T5 

— 

3.0445 

3459 


31745" 

U6S> 

8860- 

4.943 - 

10*1 

. — 

31133 

iun 

267*08 

4J7 

77645 

154520 

264960 

*2969 

30*63 

— 

5*560 

31747 



12975 

1*63 

loss 

1^000 

3344 

59.97 

43935 

112*2 

3653 

- 

4-771 X 

26495 

13.143* 

25060 

31869 

KOI 

2*84 

1Z89* 

7170 

40X73 • 


UM 07849 


Not Available 
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9J8BS1 1.938J2 38313 



343349 

Dollar Valves 


Curreocr 


com mod! Iv ana V" w 

CdiiM j Sa»fl3s 

Prmtclom p4 vv « 

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Sine. £ 51 - 005 ■* ™ 

palladium cs — — 

Sl’.iW N ' ■ c: 


F*r 

* Cufficy 

P*r 

*. comae* 

Par 

U-SJ 


IJXI 

Karhr. 

u« 

16773 

IMS IMl 

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04508 SWMII 

22183 

2161 

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92735 

8331 S-AMomom* 15194 

<16* 

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03007 

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13523 

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2641 

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14920 

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165 

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174 

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14700 

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Interest Rates 


P rincb 

Stsfflou Prone VCU SOR 

129k - U W»L - 9N - f H 8fk 

WH ■ 12*. IBWr • VW* m - 9% 8W 

12 K, i Wtw NHt - KM 9V. - 95* EH. 

12 ■ 121% 10W- 10W 9H • Wt V* 


Asian Dollar Ratos 


April 18 


1 mo. 

. 19,-Cli 

Soares; Reuters. 


2 mas. 
8k. ■»* 


. 3mes. 
«i-» 


S W -9 lb 


9!% -9sk 


Key Money Rates 

United Stales a 


8 8 

77* 7V, 

low 10V5 
9.91% 9 K-n* 
8.10 UO 
7J0 7J4 

7,76 8JH 
785 EOS 
7.90 8.W 


Dlseeunl Ra» 

Federal Funds 

Prime Rate 
Broker Loon Rata 
Comm. Paper, 30-179 days 

3- momti Treasury Bills 

4- manili Treasury Bills 
CDS 30-59 dors 
CD's 8049 dovs 

West German? 

Lombard Rate 
Overman! Rale 
One Month intarbank 
3-monin imeroank 
8-monih mttrtank 

France 

intervenlton RoW 
Coll Money 
One-RMmffi .iRlwtonk 
3 nwntft mierttaok. 

6-monih |«6rt«ik 

Sources: Reuters. CornmentaoM, CrfOtr L,y- 
annals. Lfovas Bant. Boat of Ts*m . 


Britain 

Cfcn* Pr*v. 

Book On* Rat* 

1204 

mi 

Coll Moray 

131% 

13U 

Vl-tiov Traaurv 8111 

11 15/16 

12 

J*noflU> talOfMnk 

Japan 

11% 12 7/16 

Dbttonl Rote 

'5 

5 

CoK Morav 

• 1/16 * 1/14 

*04ov imortonK 

4 5/14 4 5716 


too too 

SS0 1*0 
UO UO 

too *00 
*w tie 


WV3 1095 
iota iota 
T 5 ta ion 
ran ran 
id st it id srn 


L 


Gold Prices 


] 


Ham Kong 
Lu s t mtoi ra 
Paris (128 kHol 
Zeffcb 

Londca 
Mew York 


AM PM. Otoe 

325.95 WA — 380 
33*33 — . —MO 

325,97 32*64 —219 

32385 moo — ITS 

32580 329 JS +240 

32780 +180 


OWdm flxlnes lor LdMDA, Pom onp Liwsm- 
Douni.op«*>o and ewslna oriw* lor Hans Kona 
art Zurich, Nw York Comnoamtll CoflWOCt. 
AH pneas H U8S per ounce. 

Source: Roofers. 


■ Late interbank rate on Apri 78, exdudng fees. 

OfftdaJ fhdngsfor Amsterdam, Brunets, Frankfurt, Mian, Paris. New York rate at 
< PM. 


5-F- Yen 
13583 *13768 y 
2*10 3*5525 
• 

11985*18189 * 
12308 819.915 
78530 7J94 

268 247.10 
3651517208 ■ 
KJ9 


61.1222 Z837S 249842 


S 

■eulv. 

<U» Aesfraflen J 
00447 Austria Kudins 
CL01&2 Belslon 0 b. troM 
0J3K CanodknS 
00932 DaaishkraM 
01583 Flmdsk morkfen 
0087* creek droe nm e 
0 CBS Notts Kbps 5 

C Stsrtfnf :UI15 Irlsb C 

la) CamiTwrekil Ironcftl AmouPtsntetfbdlohTy ana po u nd let Amoownseded la Owens doUor 1*1 

Units a( 100 !■) Units of 1800 (vl UNIS OMMOO 
M.Q.: no* quoted; NA.: not ovtNtotte. 

Sources: Bonouo du Benelu* (Snsssetsl.’ Banco CammmrkN* itauano (M iron); Banove 
NaUone/e do Parts ! Parish IMF (SDR). Baaauo Aroeo or International e enmosnssomonl 
(dinar. rfyoL dtmaml. Ofhsr data (ram Reason and BP. 


Eurocurrency Deposits April is 

Sense 

Donor D-Mark Franc 
1M. - 8*. Hi ■ PI 5 -51% 

2M. BH. • Ih% S% - Skh S» - W 

3M. I%.|% »'■» W •» 

bM. gu. - 9H. 5Y»-*H. 8h4-8*% 

IV. 94« -9W 6M. - 8«v SI* - 5H im-liv> 11 -na W ■».* n 

Rater appucatM SoInruroankdooasltsotSI /n&Oar min im um (orocutvatont). 

Sources: Maroon Guaranty (dollar. DM. SR. Poona FR); Uoyas Bank (ECU If stouter* 
(SDR). 


France 

Approves 

Offering 

State Finn Plans 

To List Shares 


By Axel Krause 
tnttrmuHMid UctuU Tribune 

PARIS — The French govern- 
ment has approved listing on the 
Paris Bourse some shares of an af- 
filiate of a large, nationalized in- 
dustrial company, the first such of- 
fering since the Socialists came to 
power in )98I, govemmenl offi- 
cials and company executives said 
Thursday. 

Several other stale-owned com- 
panies are planning similar offer- 
ings, the officials said. 

Shares representing between 15 
percent and 20 percent of the con- 
tainer division of Saint-Gob ain, 
France's largest manufacturer of 
glass and building materials, wiO be 
listed shortly on the Bourse's equiv- 
alent of the U.S. over-the-counter 
market, said Jacques-Hcnri David, 
the company's financial director. 

“We are still making arrange- 
ments with the banks,” Mr. David 
said, adding that the offering is 
expected to generate about 150 mil- 
lion francs ft 16.28 million), which 
anil be used (o finance investments 
of the affiliate The government 
will retain control through Saint- 
Gobain. which was fully national- 
ized in 1 982. 

The container division’s four 
units, which manufacture bottles 
and jars for packaging and glass 
tableware, had net earnings last 
year of about 100 million francs on 
consolidated sales of approximate- 
ly 3.5 billion francs. 

Mr. David and two senior gov- 
ernment officials who asked not to 
be identified by name emphasized 
that the move should not be viewed 
as the first step by the government 
to denationalize industrial compa- 
nies and banks, as stated in the 
current issue of L’ Express, a 
French weekly magazine which 
first reported the Saint-Gobain 
move. 

“Call it partial privatization if 
you like " another government offi- 
cial said. “But this action involving 
an affiliate has never been illegal, 
and must be looked at as a prag- 
matic step to which we are not 
opposed/ 

The suggestion to list the divi- 
sion’s stock first was made about a 
year ago by Roger Fauxoux, chair- 
man of Saint-Gobain, id Laurent 
Fabius, the minister of industry 
who now is prime minister. But Mr. 
Fabius rejected the idea on the 
grounds that it might be viewed as 
the first step to “rampant denation- 
alization,” and could prove politi- 
cally embarrassing. 

Since then, in what a Fabius ride 
described as “our continuing, prag- 
matic, non-idcological approach," 
nationalized companies naye been 
allowed to tap the Bourse through 
such measures as offering bonds 
convertible into equity, and they 
have proven highly su cce s sful But 
the first hint that die government 
was considering selling some of its 
interests in state-own cd companies 
surfaced oily several weeks ago. 

Government and company 
sources said that several more 
moves similar to Saint-Gobrin’s 
were being prepared by other na- 
tionalized companies, including 
one in the aerospace sector. 

■ Renault Division Losses 

Renault V&icules Industrie^, 
the truck division of France's state- 
owned Renault, said Thursday its 
loss widened to 2.99 billion francs 
last year from 1 .95 billion francs in 
1983, Reuters reported from Paris. 
Revenue rose 8 pe rcent, to 13-48 
billion francs, from 12.46 billion 
francs. 

The unit's chairman, Philippe 
Gras, said that the company is con- 
tinuing its slow recovery from alow 
point m the second half of 1983. 



The Na, Yea, Tone* 

Store clerk In Bolivia accepts four pounds of pesos to pay for one pound of butter. 

Bolivia Choked by Hyper-Inflation 

pack of cigarettes costing 120,000 pesos, or S2.4G. 
the buyer will receive a couple of inches of 1.000- 
peso notes in change. 


By Lydia Chavez 

Nru York Times Semcr 

LA PAZ — Bolivia has entered the world of 
hyper-inflation, a twilight zone where banks no 
longer function, bills are paid with fool-long bun- 
dles of folding paper mosey and buying sprees 
overtake the most sensible person. 

Americans were frantic several years ago when 
faced with double-digit inflation. For Bolivians, 
inflation jumped to triple digits in 1982 and qua- 
druple figures in ) 984. Based on economic data for 
January, inflation is now running at an annual rate 
of more than 50,000 percent, although some econo- 
mists estimate conservatively that by the end of the 
year the annual rate will be only 16,000 percent. 

Life in the world of hyper- inflation runs be- 
tween the absurd and the tragic. The largest note 
— a 100.000-peso bill — is worth 52 at the official 
exchange rate, which makes paying bills an ordeal 
It is impossible, for example, to take friends out to 
dinner and pay the bill inconspicuously. Credit 
cards are not accepted, and when the bill arrives, 
wads of money must be pulled from all pockets to 
settle a S40 check . 

Hotel bills are paid with suitcases of money, and 
when handing over two 100,000-peso notes' for a 


Restaurants that used to serve a large clientele of 
Bolivians now cater primarily to foreigners or 
those Bolivians lucky enough to earn dollars, be- 
cause the cost of living here far exceeds the ability 
of roost people to dine out. 

'■Everyone in the country is very, very poorly- 
paid," said one government minister af ter a 1 6-day 
general strike aided in March with unions accept- 
ing a minimum monthly wage of SS0.70. 

The March strike was Bolivia’s fifth general 
strike in less than two years. Each strike has 
temporarily dosed government offices, banks and 
mines, which produce 51 percent of the country's 
foreign exchange — and led to higher wages, 
creating more inflation. 

Meanwhile, Bolivians have watched their earn- 
ing power steadily erode. One hanking executive, 
who used to earn a good wage, now* works for the 
equivalent of $100 a month. “It is frustrating.’' a 
bank manager said, referring to his employees. 
“They're at the age when they should he making 
(Continued on Page 15, CoL 3) 


German Growth 

Is on Firm Base, 
Bundesbank Says 


IMF Seeks Stronger Role in Economies 


p- 1 point 


By Gydc H. Farnsworth 

New York Tima Service 

WASHINGTON — A stronger 
role for the International Monetary 
Fund in infiuendng economic poli- 
cies of its members has emerged as 
a key objective of major nations in 
the search for more stable currency 
patterns. 

At a meeting Wednesday of the 
IMF's policy-making Interim 
Committee, France and the United 
States were among countries back- 
ing tougher IMF surveillance. 

The implication was that the 
148- nation lending agency would 
apply more pressure, perhaps even 
publicly, to gel countries to pursue 
fiscal monetary and other domes- 
tic policies that would prevent er- 
ratic exchange-rate movements, 
such as the 50-percent increase in 
the dollar’s value in the four years 
ended last February. 

Had such procedures been in ef- 
fect earlier in the decade, there 
might have been more vigorous 
public criticism by the IMF manag- 
ing director, Jacques de Larosirc, of 
huge UJS. fiscal deficits, of policies 
in Europe that have slowed invest- 
ment and growth or of big trading 
surpluses of Japan, international 
officials said. 

The proposals are being drafted 
by the Group of 10, a body com- 
prising top officials of the most 
powerful industrial countries. 
These proposals would strengthen 
the IMF and Mr. de Larosefcre as 
the world's economic policemen. 

“We firmly believe that IMF sur- 
veillance can play a key role in 
encouraging the adoption of sound 
economic policies in all of our 
countries,” U.S. Treasury Secretary 
James A. Baker 3d said at the meet- 
ing, according to a text. 

Pierre Birtgevoy, France’s fi- 
nance minister, said that surveil- 
lance bad to be “symmetrical” 
meaning that major industrial 
countries should be under as much 
pressure to alter disruptive policies 
as smaller debtor countries are to 
adjust to pay bills to their creditors. 

An IMF staff report, entitled the 
“World Economic Outlook” re- 


leased during the discussions, sub- 
jected the U.S. deficit to the sharp- 
est criticism yet by the 
international body. 

The deficit “threatens to build in 
financial im balances that could un- 
dermine the capacity to achieve 
satisfactory, sustainable growth,” 
the report said. 

[The report also said that in gen- 
eral, the world economy performed 
better than expected in 1984, with 
output growing, inflation declining 


and developing nations improving 
their financial positions. The Asso- 
ciated Press reported. 

[But it added that the current 
accounts unbalance among indus- 
trial nations, in which foreign in- 
vesunenis in the United States have 
far outstripped U.S. investment in 
other countries: persistent unem- 
ployment in Europe; and slow pro- 
gress in improving living standards 
in developing countries, remain 
troublesome.] 


Realm 

FRANKFURT — Strong for- 
eign demand and growing domestic 
investment have secured the 
ground for further recovery of the 
West German economy in 1985, 
the country’s central bank said 
Thursday in its 1984 annual report. 

The Bundesbank said that al- 
though a wave of strikes last year 
held growth of the gross national 
product to only 2.6 percent, the 
underlying trend of production 
growth was at an annual rate of 3 
percent. GNP measures the total 
value of a nation’s goods and ser- 
vices, including income from for- 
eign investments. 

The report also said that an im- 
proved labor market had been 
hampered by severe winter weather 
early this year but that further pro- 
gress in reducing the budget deficit 
should allow planned tax cuts to be 
made in 1986 and 1988. Those cuts, 
it said, should help reduce the num- 
ber of unemployed people. 

“Unemployment in West Ger- 
many is certainly only partly 
caused by the general economic 
picture,” the report said. “It is far 
more a consequence of structural 
problems in the economy, which 
can only be solved through long- 
term policies designed to strength- 
en the base for growth.” 

The bank said recent progress on 
cutting the budget shortfall and 
government borrowing should 
mean that tax reductions can be 
carried out without ushering in a 
new period of deficits. 

The bank said that although the 
dollar has declined substantially 
from its 13Vi-year highs against the 
Deutsche mark in late February, a 
continued rise in the dollar's 
strength would not be without an 
impact on domestic prices. That 
could cause interest rates to rise 
and in turn dampen industrial in- 
vestment. it said. 

Foreign orders in manufacturing 
industry rose a real 12 percent last 
year, the strongest gain since the 
mid-1970s. 

The bank said exports have re- 
mained strong in early 1985. with 
overseas manufacturing orders 
running 17 percent above year-ear- 
lier levels in January and February. 


The report said domestic corpo- 
rate investment in capital goods 
has become the second pillar of the 
recovery, with increasingorders be- 
ing registered in early 19S5. Rising 
profits have been a major factor 
boosting investment, it added. 

Rising earnings should help 
businesses, especially small ones, 
speed up research and development 
projects, the bank said, noting that 
spending for such efforts was 2G 
percent of the gross domestic prod- 
uct in ! 984. among the highest rates 
of industrial nations. GDP mea- 
sures the total value of a nation's 
goods and services but excludes in- 
come from foreign investments. 

The Bundesbank noted that 
West German consumer price in- 
creases have remained moderate, 
with last year’s average 14-percent 
increase the lowest annual increase 
in the cost of living since the end of 
the 1960s. 

However, import prices in- 
creased an average 6 percent during 
19S4, mainly as a result of the 
mark’s decline against the dollar. 

The Bundesbank also urged 
West German companies to take 
advantage of favorable conditions 
in the domestic equity market to 
raise more capital through share 
issues and less through bonk debt 

Such a move would strengthen 
company balance sheets against fu- 
ture risks and broaden the narrow- 
ly based domestic stock markets, 
the report said. 

“By raising the shares in circula- 
tion. investment from abroad, in 
principle a good thing, would not 
produce the kind of extreme price 
volatility on the German share 
market that was seen in 1 9S4 and at 
the start of 1985 ” it said. 

The report also said that tighter 
domestic economic policies and in- 
creased exports aided by strong 
UJS. economic growth have result- 
ed in an earing of tension over 
international debt problems. 

The hank noted that for the first 
time in several years, the number of 
quoted companies rose last year 
with more than 20 new firms added 
to domestic rolls, double the 1983 
total. Listings increased by seven, 
bringing the total to 449. 


British Trade Secretary 
Warns Japan on Surplus 


The Associated Press 

TOKYO — The British trade 
secretary said Thursday that the 
European Community would have 
to follow suit if the United States 
retaliated against Japan’s tight 
markets by imposing protectionist 
measures. 

Norman Tebbit told a news con- 
ference in Tokyo that the European 
Community supports free trade but 
“we fully recognize that the 
strength of feeting is such in the 
United States that there would be a 
slide toward protectionism. If that 
happens, the [European Communi- 
ty] would be forced to take similar 
measures.” 

Japan "needs to satisfy Europe- 
an nations as well as the United 
Slates of America,” he added. 

Mr. Tebbit said the government 
of Prime Minister Yasuhiro Naka- 
sooe must set a good example with 
some major purchases. 

The government might purchase 
military equipment or dvu aircraft 
from abroad, he said. On Tuesday, 
Mr. Tebbit urged Mr. Nakasone to 
consider baying European fighter 
planes or passenger planes. 

Dutch Prime Minister Rudol- 


pbus Lubbers made a similar ap- 
peal Thursday at a separate Tokyo 
news conference, asking the Japa- 
nese to think European when they 
buy imports. 

Meanwhile, in Washington, a 
congressional panel was told on 
Wednesday that American indus- 
try could increase exports to Japan 
by as much as SI 5 billion a year if it 
gained greater access to Japanese 
markets. 

Olin L. Wellington, deputy un- 
der secretary of commerce, said, 
“The next three months are critical 
in our trade relations” with Japan. 

Mr. Wellington told a joint 
hearing of the House subcommit- 
tees on Aria-Pacific Affairs and In- 
ternational Economic Policy and 
Trade that, “We have had substan- 
tia] success” in gaining the desired 
commitments to reduce the current 
S37 billion UJS. trade deficit with 
Japan. But he added that “The real 
success win be measured not by 
commitments undertaken, policies 
changed or milestones achieved, 
but by increased imports into Ja- 
pan and by the perception of the 
U.S. business community that Ja- 
pan is finally, truly open," 



For the man with exceptional goals, 
a new dimension in banking services. 


TJJThat makes Trade Develop- 
Wment Bank exceptional? To 
start with, there is our policy' of 
concentrating on things we do 
unusually well. For example, 
trade and. export financing, 
foreign exchange and banknotes, 
money market transactions and 
precious metals. 

Equally important, we are 
now even better placed to serve 
our needs, wherever you do 
usiness. Reason : We have 
recently joined American Express 
International Banking Corpora- 


S 


tion, with its 89 offices in 39 
countries, to bring you a whole 
new dimension in banking ser- 
vices. 

While we move fast in serv- 
ing our clients, we’re distinctly 
traditionalist in our basic poli- 
cies. At the heart of our business 
is the maintenance of a strong 
and diversified deposit base. Our 
portfolio of assets is also well- 
diversified, and it is a point of 
principle with us to keep a con- 
servative ratio of capital to 
deposits and a high degree of 


liquidity— sensible strategies in 
these uncertain rimes. 

If TDB sounds like the sort 
of bank you would entrust 
with your business, get in touch 
with us soon. 

TDB banks in Geneva, London. Paris, 
Luxembourg, Cbiasso. Monte Carlo, 
Nassau,. Zurich. 

TDB is a member of the A merits » 
Express Company, which has assets of 
US$ 62.8 billiott and shareholders' 
ccjuity of US$ 4.4 billion. 



Trade Development Bank 


Shown at left, the bead office 
of Trade Development Bank, Geneva. 


An American Express Company 


ess 






Mi 




Over-the-counter 


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INTERNATIONAL HERALD TRIBUNE, ERBHY, APRIL 19, 1985 


Page 13 


ifficulty 

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?sstand 

in 

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in 

possible 

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You probably went straight to 
the ITT XTRA® Personal Computer 

The picture that looks like a 
computer 

But actually; there is a 
computer in each of the products 
shown in these pictures. 

The car, for example. It's equip- 
ped with our recently introduced 
ABS anti-lock braking system. 
Which is controlled by an ITT 
computer 

Our System 12® telephone 
exchange and our 5200 Business 
Communications System are 
basically computers. 

Even the light pen that "writes" 
instructions on a video screen 
couldn't function without a 
computer 

The point is, ITT computer 
technology exists in much that we 
do these days. 

We've identified a select num- 
ber of growing businesses that 
we're concentrating on. And 
many of them involve high tech- 
nology. 

You may not be able to see all 
the changes we've made in ITT yet. 
But the results will be easy to spot. 


RSI?? * « 

Imtmwt 

Ommex 

muna 

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TXT European ^Hea^quarters, ^eijue Louise 48O/B4Q50, ^Brussels, Belgium 


Its a different world today. 






# 


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-:^y. 




HP! 

















Page 14 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, APRIL 19, 1985 


STOCK 

BID 

ASK 


IBS 

uss 

DeVoe- Holbein 
International bv 

5% 

6% 

Gty-Qock 
International nv 

2V* 

3 V4 

| Quotes as of: April 18. 1985 j 

1 Investors seeking 

above average 1 

I capital gains in g 

obal stock 1 

I markets can simply write us a 1 

I note and the wee 

uy 


1 INVESTORS ALERT newsletter 1 
1 will be sent free and without 1 

1 obligation. 


I 


Over-the-Counter 


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The Netherlands 
Telephone; (0)3120 260901 
Telex: 14507 firco ni 


sate in tel 

1003 Utah Law 3 P-M-OToe 

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PAID ANNUALLY (Montiily/six monthly terms available) 

Minimum Investment $2730 


Contamefwortd Services Lid based In Southampton 
manage and operate a flrct class worid wide container 
leasing sendee to the shipping Industry and specialise In 
providing Investors with a High Hxed Income with securfly. 


for full details of the High Income Plan (NOW INCORPORAT- 
ING NEW CAPITAL REPAYMENT OPPORTUNITY) complete and 
return the coupon today. -on hwestrrwnti o< US $5320, ham 5-15 yra. 



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Terrace. Southampton SOI 1BG ENGLAND 
Tefc Southampton (0703) 335322 


2344 B 7* 7*— M 
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f NAME 

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( Tei No. (work) (home) j 

I" Cortalnwwortd ServtaM LKL 25 Qu OP tfa Twoca Soutno mpion , SOI 1BG England ( 


A YEAR OF MAJOR 
DISCOVERIES AND 
RECORD PROFITS 



* Net income up by 25% 

* Exploration adds 40% to reserves 


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Exploration in the North Sea, Australia, U.S.A. 
and Canada increased oil reserves-by 
12 million barrels and gas reserves by 

190 billion cubic feet. 

U Our aggressive 
programme last year 
brought success world 
wide. Future growth with 
an increasing cash flow is 
assured. Prospects for 
Tricentrol as an 
independent company 
have never been 


better. 35 * 

jr cteLXjriRronmusr DC lUidlnL gwy »■ i**mt a 

^ / _ abta of 4* ban£dal ownw. Sm runber a 

drfirekvn runbaa of EXCiMXt Erii jnd c4M 

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in the aw of hokios rrwkri in +a MtMig 
eouwiio: 

ARABflBUBUC THE WDERIAND5 

WWW NW2INJIIO 

.mm. 

BaOWM SB40A9OIK • 

CANADA 

MNMAK SVVDB4 

SWH2ER1AI® 

S?S, unubhonodom 

nZy U81HJ STATES 

KOREA OFAMBBCA 

MALAYSIA WEST0BJMANY 

To afatan paymeX undar {Wuefan t* 

Ta« d On raducad iota IS*, laadoai of 4w 
above oounlnai mult fumidri a dadexam of rad- 
done* a raqairad by 4w Jraenaw Mnifty of 
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J70 1J 1 26M 26M 26M + * QMS ■ 499 

90 6 5M 4 + M l Quod rx 62 


JAMES GSLONGCROFT 
Chairman 


SmB3K/K> hoktannektart inte Kwsabficet 
Koran wB receive pnymert intar dtatetam of 
WH a Unn Tan c4 *e reduaad rata of I2X and 
readanh cTZanbia viidojt my daduOKn sui^act 
todw pmbinn of n dwtorodon g eat out abnw. 
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5ow»rf» J 


ADVERTISEMENT 

INTERNATIONAL HJNDS 

Quotations Supplied by Funds Listed 
18 April 1985 


The net asset voiue nootatiora Jltown itelowaresapplbd by It* Funds listed wMtittie 
exception of some funds wIwm wmtea ore based on issoe prices. The Mtowiw 
morainal symbols Ind I cot* frequency of quotation supplied for me IKT: 
tm-dady; (wl> weekly; (W- bMnentMy; (r) -reputoly; <l)-ims»aior1y. 


ftvvyfM 

i.ir 


AL MALMANAGEMENT OBLI FLEX LIMITED 

iw) AWVEol Trust. 5A 5 152.90 — <w) IVEulHeurrmTCY . 

BAN KJU UU 5 B AH R & CO. Ltd. — |w) Ooilm Lena TenSUl 

—Id 1 BoarftOf Kt 5F 89720 — -M.1 Inamau Van . _ 


ejjiss fcAnwg. — ;gnaa EisissaaS: 


Commi 

C -j.fr 


ziSI ISgStSSS^zr-sp’i'ffi =i:|85SM 

— (d) EBuiboTPacmc ^(w> 5wfcui Prone. 


— <dl Grobar- 
— Id > Stockbar 


— (d)CSF Fund— 
—Id ) Crossbow Fond. 
— <d ) ITF Fund N.V— . 


US £3 ^ 
10 Mb 
\M 20 542 52 W. 




.15b 29 552 5 
33 6! 


497 

7B5 

441 

282 

J6 27 840 
25 
2 

.14 38 104 
3 

JO 3J 21 


Nk 18 +* 

22 * 22 * 

17M 17M 
WM 25 +M 
38 » 

5M 5M — * 
25 25 

14* IS* 

3M 3M 
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11 Ub— b 
56* 57* +* 
6 4 — M 

13 13*—* 

4b 4b 
5* 5* 

5M 6 + * 

zi un UM 12* + * 
7 5* 5* 5* 

2342M 42 42 

5M 5* 5M— b 
13M 13M 13b 
24* 24 24 — * 

1M IW JM— M 
14* 14 14* + M 

«M 94M 94b +1 

^ sew 

22 Zl* Zl*— M 
30M 30M 30b 
7b 7 7 

20M 20M — * 


9* 

'M&€£ -S 

4352* 52 52* +M 


BANQUE INDOSUEZ 
— (d 1 Asian Growth Fund— 

— Iw) DEvorband— — 

— (W) FIF— America — .... . 

— twl FI F— Europe. 

— Iw) FIF— Pocfflc 

—id 1 1 ndosuez MuttlbondS A_ 
—Id ) Indosuez Multibonds B. 


SF 100788 ■ ' 

SF 161480* ONANGENASSAU GROUP __ 
„ „ „ PS 85S7«,Th0 Hopua (0701 44900 

— -<dlB4MarBtl«eoin0«n++ — 

1_ 31389 PAAISBAS— GROUP 

■ — (d> Corteo Intamationoi— 

— fw/OBLWJAii i 

— cc!££ — nw| OBLIGESTION 

— — t* OBU-OOLLAR — . 

— i 3fS — f*i OBU-YEN 

■ ;HS — <WI OBLI -GULDEN - 

— IIJS —Id i PARQILrFUNP 

— *555' —Id I PARINTER FUND 

— *M77u — mi PAR USTreawry Bend— 


— 3 8BJ9 v .tat 
OM 1.T77J6 *•« 
_ 3F92JD 

. 31,12577 ■*«£. 
Y104J09JM ; r- 
PL 105720 
„ S 10585 * ■ 

_ STO3.T2 ' *. 

— SID2.V6 ' - 


gW'TANNjAPgB Pl.St . Hrtlar. -tefjev ROYAL B. OF CANADAJ»Ofl 244-GUERNSEY 

— (w) BrttJ3oUor Incnmt — . * -+(w)RBC QnxSai Fund Ud___ 1 1126 , 

— "-.r 5 nn -Hw} BBC For&MtXPaciffc Fd — 1 1080^ 

di { SSL 22EZ222 &- — flffl -H-o «Bcirtfrp*>«ofFd, tw9. 


K t i rup mi 


M 14 UUM 13M 13M 

9710* 9* 10* + M 
156014* 14* 14W 
1.14 11 M53* 53* 53* +M 

222BM 28* 28*—* 
174 IMS 16M 1M 
JOB 1.1 40 +* 4M 4* + * 

188 14 48339 137*139 +2 
85 Ll 42 4M 4M 44k— M 
142 37- 3152 51b SIM— M 

114 9b 9* 9M 
J2e 8 K15* 15* IS*— b 

1.14 7 A 415* 15* 15* + M 

102 3b 3* 3* 

84 48 173J* SIM 


— fd ) Brit lntUMono*Portf- 
— Iw) BrltUnlversal Growth— 
— (w) BrlLGoM Fond- — 

— (w) Brli JSEittJoXummcy 

— (dl Brtt. Japan DIrPerf. Fd 
— tw) BrlUcrsey.Gilt Fund — 
— fd) Brit. World Lob. Fwd- 
— (dl Brtl. World Tachn. Fund 


sofia -Hwi rbc I rrti income 

5SS? -tid> RBCManCurrancy I 


CflOlC ■ »»■ i nsvimaiiun ■ tin-r r 

CT484- ■ +1w> RBC North Amer. Fd 


30870 SKANDIFOND1NTL FUND (46-5-2362701 

10224 —Mine.: Bid SS84* Otter 3883- 

S 1.100 — (wlAccv: BM S58B Offer 5585 

30777 . ,-r. 


CAPITAL INTERNATIONAL 

— (wl Capital Inti Fund— 

— (w) Capital Kolia SA. 


SVENSKA INTERNATIONAL LTD. 

17 Davanshlni SaJjndor, 1 777-«Ua 

*3581 — CblSHB Bond Fund 3 2179 

3 12J0 — (w)SHBInK Growth Fund 32024 


—(d) Actions Suis-Ms 
—(d) Bond Vblor Swf, 


JM 4 15901 IM 
783 lb 


» '®t£ 


CREDIT SUISSE (ISSUE PRICES) SWISS BANK CORP. (ISSUE PRICES) 

— (d ) Acthms Sufasu— S F36425* — (d ) JUnarico-VoSor SF 54525 

—id) Bond Valor Swf— SF 1044J — (d j D-Mark Band Selection DM115J4 

—(d) Bond valor D-mark. DM107.14 —id) Dollar Bond Selection 1)2324 

— id) Bend valor U5-DOLLAR__ 511133 —id i Florin Bond Selection 
—(d) Bond Valor Yen— Yen 10521 JW — (dl intorvolar-^. 

— (d) convert Vbkr Swf — — . SF 107 JO — (d f Japan Porifal 
— (d) Convert Valor USJ30LLAR. 3U1J7 —id ) starUno Band Selectlan 


49 6b s* 6 
10 9* 9* 9* 


— (d)CanaMC 


4b- b QuakCS 88 32 U4212 


20K and 8 bo Bn ranomfaBy of fa ov«ar to 
dean from (nJapcnsMtai Auterite any nduid 
to v+kh ha n ended 

Umad lOngdom faoaaa Tm 9 lha oppngpnda Rta 
«8I ba dpJndad from lha pooeodi unbta Oil 


i Coupon! aa oooonoiuBd by o (faked Boloa 
AfBdarioi Nanregdtnce. ] 

W bfautabn fooy bo ofamd fiwt 

MIL SAMUEL I CD, UM1B) 

AS BaodiSknafc London BOP 2IX 


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22 15* 15 15* + * QuostM 

190 Z* 2* 2* — b Quintal 
43 4Vb 4M AM— b Oulxota 
21 4* 4M 4*— b Quotm 

270 5b SM SM— b 

43 7* 7M 7* + b I 

54 9 BM 9 + M ■ 

494 9b BM 9 + b rax 

88222* Zl* 21* RjFtn 

42 5b 4* 4*— M rLicb 

3 27M Z7M Z7M + * RpMs 
30 5M 5b 5b + M RodSys 

RodtnT 

Rodion 
— , Rosen 


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43 6 5b 5b 
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12015 14* 14b + U 

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RLICo M 29 4B19M 18b 19M + M 

RPM* 86 38 7717 16M U* + * 

RodSv* 1M13* 13M 73M+ » 

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Rodion 25 B 7 7 — * 

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Raodno 1219b 18* 18* 

Recoin Jffl » 5H — 14 

RadknL J4 28 5731* 31* 31M 

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Refoc f 1313* 13* 13* . 


Recstn 

RadknL J4 18 
Reeves 


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1 9* 9* 9* 

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3 3M 3b 3M— b 

2 5* f* I* 

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— (dies I _ 

—id > CS Fonda— (nn 
—id) CS Money Alaricet Fund 


— fd ) CS Money Mori 
— (dl Ciiero 
— (4) Usnc 
—(0 J Eurouo— Valor. 
— (d ) Pacific— Valor 


S FMOJO — (d ) Swiss ForeJon Bond Sel 
SF 7450 — <d > Swtssvalor New Series 
SF 10473 — (d ) Universe) Bond Select 
S IflSSJIO — fd I (Jnlwnal Fund 


FL 119.fi 
SF 8X50 
SFBoun 
_£1B>J0 
SF 10580 
SF 29780 


wmiii 
man a 


d ) cs Money Market Fund DMjmMI —id J Yen Bond Selection 


SFIW77 
Y 1080980 


DIT INVESTMENT FFM 

—HO ) Concentre 

— Hd ) inn Rentenfend 


si=9m55 UNION BANK OF SWITZERLAND 
SF 1508a — (d ) Amco US. Sh. ______ SF 3925 

SF 140J0 ! Bond-lnvnl . SF6675 

—<d 5 Foraa Swiss Sh. SF13580 

— (d ) JopaiHnvest. SF 90788 

DfiHB — (d ) Saflt South Atr. 5h- SF56ZJJ0 

DM 8887 — <d ) sima (stock price) SF 19788 


Wee SI 


Dum ft tiarelH 6 Lloyd George, Brussels 
— (ml DftH Commodity PooL. 130483 
—On I Currency ft CoW Pool™ » 19926 
— im) Wlocn. UN Fuf. Pool™ 159X32 
— (m) Trans Worid Fut. PooL. SB9B8B 


UNION INVESTMENT Frankfurt 

— fd ) Unlrento DM 4270 

— fd ) UnHonds DM22.90 

— (d 1 unirak DM7485 


— Iw) FXC Atlantic 
— (•! PftC Euroaaan 
-(wi FftC Oriental- 


, .J 


— (d i unirak DM7485 

Other Funds & 

FfcCMGMT. LTD. INV. ADVISERS . . J? 

L Laurence Pountv HIH, EC4L 01+234410 Iw) AriUronds Inirestaienhi Fund. JTLif 

-fw! F&C Atlantic S11J3 Adivast Inti *1081 

jw) pur cyrpntr" S102S (m) Allied Ltd— $380 

^(w FftC Oriental s3tA0 j w > Aouita International Fund— *1178 

(r ) Arab Finance LF_—_ SS4882 

FIDELITY POB 470; Hamilton Bermuda (biArlane S 189l.il 

-(m) Am Brian Values Ccnmicn- 58X30 (wj Truitcor (rtfl Fd. (AEIF) S IB.W 

■“i?. 1 An*r Vijura ConvPrri <10184 fw) BNP Inter-bond Fund S )0£» 

— m FfdaHty A mer.Ase ets— S 6X80 (w) Bonds^ex-lnua Pr SF 13228 

— (d 1 FMemv Awsfrnlta Fund S8J0 (in) Canada GM+Aortoana Fd— . 5981 

--Ifl) FWeiltyDiicovervFund 51025 (d > siiS 

— (d ) FWeitty Dlr.5vn.Tr S 1ZL59 fw) OtarM f.S T m *ifi 

— !«?* L h *ri.!!vf*KEaMF uwl *!’■?? w > CJ.R. AuriralPa Fund. 510.U 


SHE£ 


— (ml Amor Valins ConvPrel 
—(d) Fldailty Amer. Assets— 


— Id ) FUeOtv Awstroita Fund 

— la ) Fidelity DIkovoty Fund— s 1025 (d ) Capital Pruerv. Rt mtl $1125 

—Id ) Fidelity Dlr.5vnTr $ 122J9 (w) Otadel f.S T m * {£ 

— KJ Shifty f*£ ^L Funtf *J9fi id i CJ.R. Australia Fund I law 

—Id) Fidelity inn. Fund $5720 (d ) cj.R. Japan Fund $ 975 

—(d) Fidelity Orlenl Fund $2424 (m) aweiandOffsJwre F&ZI SZOOSfi 

-Id ) Fldelitv Frontier Fund 513.11 (w| ^n^SecuTfflK—TT FLUOSl 

-Id) Fidelity Pocfflc Furrt 513089 (h ) cqmft f secunriEs 

— (d ) Fldrittv Sad. Growth Fd— _ S14A5 (w) Convert. Fd. 1 nr I A Certs $9.16 

-Id ) Fidelity World Fund S3T.II fw) Com^rt. Fd! Inti B CwTsHT 5 2X30 

FORBES PO B687 GRAND CAYMAN B^S sCiB UnAJ 4 -~ = — WnQ 

Lortbn Aawif Ol-fflcjillJ ju I D. Witter Wki Wkte ivt Tst— IJOfi 

— {wl Gold i wwm $792* I DrokXar Imrest-Fund N.V— S l.USfi 

iw) Gold Appreriallon ______ 5 45B 5 11 J Dreyfus Fund mil $3478 

— (w) Dollar Income- SBJ3 &?Cf4?.L l Tt e f contl . n £ nt TT s iH™ 


I CJ.R. Australia Fund . 


55720 Id ) CJ.R. Japan Fund 5 975 

*2424 fm) Cleveland Offshore Fd. STMSJt 


— Iwl Gold Inoama 

— (wi Gold Appredotlon 


— (w) Dollar Income .. 
— tm) Strategic T radii 


Company Earnings 




Revenue and profits, fn millions, are in local currencies 
unless otherwise Indicated 


GEFJNOR FUNDS. 

— (wl Eon invatmenl Fund . .. $ 35423 
— cw) Scottish Worid Fund— tii3JM 

— (w) State St American 115581 

Capt1J3uid.LtdJj)nAgantjn +914230 


5114 WT** Establishment ■ 
’ 4 W ) Europe Obitaatlons. 



Fst Gty Bleep 

tStQoor. 1915 1904 

Net Inc. 783 2328 

Per Share 0.W 083 

Fft Florida Bk* 

IstQaar. 19BS IfM 

Net Inc. 108 6.90 

Par Shore 084 057 


(Other Earnings on Page 15) 

Hand Stead . Mer c ant i le Bleep 

>u ■ INOear. IW 1W4 1st Ooar. TOS l«4 

W Revenue 8167 SSL4 Net Inc 1175 1079 

JKLl?- M6M 41S p*r Share — 120 L10 

" Par Share— — 0.10 

a: kns. 1954 mt restated. MeredMi 

IM inJJ. 3rd Qaar. H8 IfM 

.90 iviaae Revenue 1198 113J 

87 IstQaar. 19BS 19M Net Inc. 979 6J3 

Revenue 5556 550-1 Per Shore — UM 0J0 

Net Inc. 1X7 158 yMnattai ins 19M 

rs4 Per Shore — 074 070 Rovenue 3548 3340 


GLOBAL ASSET MANAGEMENT CORP. 
PB 119, Si Peter Port. Guerraev, OlBl-Wis 

(m) FllturGAM SA $ 173J3 

(nUQAMAftritrana Inc : $123.14 

(w> GAMorlca Inc S 13*03 

(wl GAM Boston Inc S103J? 

(wj BAM ErmltaM— _ $1322 

(wi CAM Francwal SF 9X14 

(d > GAM internettonaJlnc— . $10329 
Iw) GAM North America Inc. 510415 


, : IHEK? OhHootlons— 

}«*) FM Eagle Fund 

$35423 jb j F ttv Star* Ltd. 

1 1 13JM (w) Finsbury Group Ltd- 
1 15581 fw) Fixed income Trans. 

(w) F on*« lex issue Pr. 

-noa IwlForexfund 


— ; Jd ) Govomm. Sec Fund*-. 

“ id ) FrttnbkTihwt Inttevlno 


— SM.M 

$1^ 

5986 

S 1455-17 
_ $87889 

— » 117 -3 

— SKUQ 

JTM 

i_ SF .&3 

_ $6388 


(d j Frank+Trust intenins— DM 41 J4 
( w) Hausamann Hhtas. N.V $ UI.U 


• 1<|Aq » • rwraim r-inwn 

sfmij {wi Horhon Fund- 

S s F 103M 5 ! [LA inn Gold Bond 
} {nterfund SA 


IWI own iwm wencB inc.— * IU4I3 (wi Inteminri— iciC3, 
(wj GAM N. America Unit Trust. 10400 p Id » lHw2?n/52 
(wi GAM Partite Inc tmu !: / Mut I 


Iw) GAM Padflc Inc t miu J- / ■"■fenngis muu ra u; 

(w) CAM SlarL ft loti Unit Trust. lJLmu !a\ iSiStooiSl?’ FolKl 

(m) GAM Systems Inc. S 107 JH 1? * l£22fa2J25i=C=— = 

(wl GAM Worldwide I nr S 13X34* fr I ifrffi! i A ^? ?.vi l y~Trr 

im) CAM TYciie SA. Class a SlMfi (W l»S!S^3SeN«.?l!rt?i 

G.T. MANAGEMENT (UK) Lid. |w) Japan Padflc Fund_JZ 

— (wl Berry Pot Fd. Ltd.— __ $940 {"’IJefferPtnxInfl.LW—— 
— id ) G-T. AppHed Science 1 15J7 1 Kitfnwxl Benson Inn F 

-Md ) G-T.Asean HJCGwihFd $1280* {“) Klefnwort Benx JatL Fa. 

— (WIO.T. Alia Fund S3JP- W) Korea Growth Trust 

5234 1 W„) Lai com F twd 

$2416 }•*» J^veraoe Cop Hold 

-SI 123 «t I Lkndboer. 

S 1428 Jwj Luxfun cL. 


Fst West. Fm. Net inc. 1x7 isj 

P8rshor *- 074 ^ 

Opar Net 120 20 «r 

Oner Share 023 0J7 MO lt* r 

I9S3 net axchKte oa!n at 1st Qaar. WB 1964 

SMeJUO front tarty ntttro- ReventM— 382A 3fiX 


Net Inc. _ 
Par Share. 


Summary of our Annual Report 1984 


1983 

DM 3,732 million 
DM 3,247 million 
DM 2,762 million 
DM 2,137 million 
DM 135 million 
DM 10,948 million 


Business Volume 
Total Assets 
Deposits 

Bill and Advances 
Capital 

Consolidated Total Assets 


1984 

DM 3,848 million 
DM 3,325 million 
DM 2,821 million 
DM 2,234 million 
DM 140 million 


1st Qaar. MS IW* 

Revenue 76X3 fau 

Nat ine. 440 428 

Per Share— . 189 UM 1st On 

1994 not fncMtes fast at 949 Revenue 
million from discontinued ao- Net lac. , 
orat io ns. Per Shor 


Net Inc. . 31-4 188 iitQuar um t9M 

Per Share — . Q7B Ofi ffMonao 1.900. jfiu. 

1984 net Include* eoln of S23 Net Inc. 1440 1758 

m4 million from debt rat Irocnocrt. pw Share 1 A 2 188 

Loddwad Na$h findi 

u» MOW 196$ 1984 1 *» Quar. ms tH4 

1349 Revenue -1— X140. 1880. 527JS* 2 "^® “W 

fnp. Mraf inc. mjj un jnCi — — 1^3 T J4 

pSSSrTZ lfi 184 P*r Store— 034 024 


Hides. N.v sin.« 

I $10480 

d 5LT2454 

i Bond $972 

. $1325 

Fund S320JS 

MuL Fd. 0.*B*_ 139571 
»» Fund. — _ 1931 


— (wl G.T.Aila Fund 

—Id I G.T. Australia Fund 


(w) G.T. Euro. Small Cos. 
(d G-T, Dollar Fund 
—Id G.T.Bond Fw 
— fd G-T. Gtofajl 7i . . . 
—Id ftiT. HanstiO Pothl 
—Id C.T. Investm en t F 


(mi Maenahmd N.V.. 
{a 3 Marftotamim Set I 


(b ) Meteure. 
(wi NAAT_ 


DM4XS 

' 17J 7 

_ $1174 
. S 10*84. 
. S 10X46 

11888981 

_ S2234 
_ 57IJF 

■um 

7 i*lB1g 
-11379 

Y10X«B 

- IU4 


— (d > GT.Technoiaoy Fund. 

— Id ) G.T, South China 


Froohauf 


Lo u iticRwrfodfic 


Nashua 


1st Qaar. 

Revenue — 

N6t Inc. 

Per Share- 


id Qear. ms 

Revenue— 2718 

Nat Inc. 220 

Per Store — OUT 


nu UtChxs-. 

wn Revenue 

2*_7 Net Inc. 

0J3 Per Shore— 


EBC TRUST 'CO.( JERSEY) LTD, 
1-afrateSLSt. Heller ;053434331 
TRADED CURRENCY FUNa 

Bid S9JJ Offer 

. BW _ — 51 X52 Offer— 


(wj NAAT — S 1A4V 

. .. S. N G rawtn Pockooe Fd 19,1304 

S 1384 {w> Nippon Fund— .S29JZ* 

* UUJ Iwl M» g lovestment Fund— *™2 


(mj NSP F.I.T— 

w) PANC URRMne. — IJSfi 

£ } ParionSw. R Eat Geneva 5F1297JH 
(f • Permal Value Fund N.V SI 2458* 


- $ an ndNjr 

ni sr ibigcsMc: 


1 arjns 1 v “h» Fund N.V. 


Sr>, , . ^ 


Oi IMta 


DM 11,443 million 


1st Oner. 

Revenue 

Not inc. — 

Per Share — 


"olte vzi€-?ie&j “ 

Cologne /FranicfuTt, April 1985 


GoilIJ' tutted ters-toc -4 3PM. 

1st Quay. 19*5 19S4 Moak Chof 

S9WJXX from dUconUmted PwShani— 0.W 137 

6WMMt fMMrihk 1915 W84 

Revenue— 74X8 7344 

_ __ Net Inc. 342 347 

Gt Wwt. fin. - Per Share — iss 179 


Lowonstetn (M.) Natl Gty Cp 

lit Qaar. ms 19* ® uar - 

Revenue — 147.1 14W Sjj ■ 

Net me. 9.19 8J5 w Share— 180 1.19 

Par Share 221 281 

!98Snrt Include* gain of S3. ! Ural 

million from reourcfxne of . m Oust. ins 1984 

deff. Per stem rnultt at- Revenue HU sS 

lusted lor 5- for -4 spW. Net tnc. 1557 27.15 


— <wi Long T«rm 


K«*r> j)? Oucntum Fund N.V.. 
SZ1J7 (d ) Renta Fund 




JA ,W7INE FLEMING, FOB 70 GPO He No H J genttavest. . LF USSR 

— 55 J Jtewn Trust Y 4748 !° ? graer ve insured Depeaits- sW74g 

ZiS 53279 lyigOTwreRgrtWia SFinB 

m SsSSs3SfflBi=-' r fiS ; 




Nel Inc — 
Per Shore— 


1557 27.15 

084 T8S 


Pann Centred 


1st Odor. 
Revenue — 

Net Inc. 

Per Snare 


. Philip Morris 

Ill Ooar. 1985 19*4 


New York 


Luxembourg 


1st Quar. ms im RA.,,,...,. 

mt irt. — 3LH 2 XW mayiag 

| Per Share — 880 071 IstQaar. 1W5 IW 

Revenue— 1777 1773 

Nat Inc — 183 T7.1 

Huntington Bkshrs Per5ho ™— vu ^ 

N X MG Comm. 

Per Shore— . 1.18 . 029 IstOear. 1983 19M 


.M-.- 




Revsnut— 1315. 334% 
Net Inc— -2104 2ml 
- ” 2J2 -■ I J7 


— » 1 J-F Australian iug }**» S talest. Sank Equity HdpiNV I~*7S 

3atMfflisS!= 

=tabMISRSi£S^;- 5F ‘5!?iS &i1S&^Ec^=: tS 

m'ES— ISiISISSScJ^'iS! kItSSJ ISSKKSSS 

— (W) CImH-UA ■ T TT7T' [{* ) UNI Bond Fund $4958* 

—<W1 Class C-JaaanT— "^75*05 HNt Capf tal Fund J 10758* 

(hit WTnchestwr bimmimi i m < ifllS 


:I1S^ 

= SSI 


J:' 

« zm 

U ^ ! £SD 


nets fnctjjde provision for Revenue — 5708 

W'* 1 ft? 


Ralston Purina 

2nd Quar. 1981 1984 

Revenue — I860. 1290. 

Net Inft ,.578 O.l 

PorShore— 073 0.73 

■ 1st Halt ms 19*4 


ISSSSaS^iBSK*i^| 


DM — Deutsche Mark; BF — Belalum r.,..,. 

Uixembowra Franaj SF — Swiss Francs 1 Ffcrirc LF , 

OKMaePTVSlBfosi Per unit; NX-NrtA^^j“} t S d r ; + “ 




4747 Revenue mv— 
S9 Net inc — 
.083 per Share— 


caanpe k/v >u to si par unit; tiA.— Not Avon— rTTlr- T — “"w wncesjn ■ 
. Now; S — suspended; s/s — Stock Spf NotCommunlcafei 
Gross Performance Index March; e— Bvi !~. ^‘ffl*Mlil4{ “ — Ex*Rfs; ' 


Gross Performance Index March; a— Djin^Sr vjdtnd; “ — Ex-Rts; * 
WoridwW* Fund Ud; 0 — Offer Prlcelma^ffi’^r?' E *-Coupan; ••— Fora 
orice as on Amsterdam ShxSc E xchcope ' 3% pfellm - charoe; ++ — daily i 


- *■ C*. 


V=' 


am 








P 

+ V, 

+ £ 
+7Si 

+ W 

$S 

it 

+ * 

+ Vi 
— 


*“ M 


'- Mi 
» + V. 


+ Vi 


* + Vh 
a +n% 

5 + » 

1— I* 

*— 1 
1* + * 

4 

* 

s:v 

5 + & 
tt.* 
S~* 

<.— w 

* + 34 


&• 

& 

Sss 

ag 

SS 

sgE" 

is? 

& 

ag r 

p5 

»S 



&5s 


life- 




BSTERWATIOWAL HEBAXJO TRIBUNE, TODAY. APRIL 19, 1985 


iA« . 


*V-?J 


p** 1 ' _ m 

Page 15 

)|j — 

II 


lm, 

• 22 * 

■OSr 


1.9 


!i‘S V, 

‘M 


1$$ 

SftS ! 



WO 40 

Wojffc 

9C 

gfc 

vS2* r, » 

SEjup. 

Sgwar 

s&wk 

wS? a 

g 

2"«! 

SSEfc 

3& 

s*. 

w2S? 

SF 

as 

WTZimt 

W»lAL 


HP 

jSs; 

>Sr,« 

'We'B* JlJi'?'- 

Ife. .n. 


S <$ 

as 
.3d 


1-U 


Acj. 

ft* 

?|,h 

4S 


Grindloys Bank 

. imam . 

ZURICH — SwilurUmd 
coakl force tbc dosore of the 
. Swiss operation* of the Grin*J- 
lays hanking pop fdkwing 
Ausiraha 1 * rCTttSM te grant 
Sttiss banks foreign banking li- 
cences. die Federal Banking 
Canmrissioa said Tlungay. 

Australia tuned openiagris 
braking market tirisyeanaw in 
February awarded Id foreign 
licences, but none of die Swiss 
banks w hich applied was suc- 
cessful. 

GrindJayj, based m London, 
was taken over by tbc Australia 
£ New Zealand Banking Group 
of Melbourne in Sepicrafier 
1984. Switzerland grants oper- 
ating licences only to banks 
:-h from countries which grvdSwiss 
' ° banks reciprocity. 


Swire Bays Prime Hong Kong Parcel 


By Dinah ice 

firurnautmaJ HentU Tribune 

\ HONG KONG —Swire Proper- 
tbs 1 iA the real-estate arm of 
Swire Paafjc Ltd., has paid 703 
million. Hoog Kong dollars ($90 
galfioa) for a aw on the edge of 
Hong Kong's central business dis- 
trict. It was the most important 
property auction in the British col- 
ony this year. 

Forecasts of the price hid ranged 
from 300 million dollars tons high 
as 800 reillifls dollars. After a 
-slump in the property market that 
lasted more than three years, an- 
ticipation of the auction pushed 
trading on the local stock market 
past toe 1,500 barrier on the Hang 
Sag index on Monday, the highest 
point in four years. 

Property auctions arc considered 


li Herat financial indicators in 
rag Kong because ! wo- thirds of 
the total capitalization of the stock 
market is represented by property 
companies. Of the 33 constituent 
stocks making up the Hang Seng 
index, property companies account 
for 35 percent of the total. In addi- 
tion, about one-third of all bank 
loans in Hong Kong are proper- 
ly-relaiod. 

The auction for the 107,000- 
square-foot (9,630-squarc-meter) 
site. which now houses military 
barracks, was attended by aa esu- 


lhc government auctioneer com- 
mented, “I don’t believe it,” and 
waited nearly a fun minute for in- 
terest to build. The significance of 
the final price as an endorsement of 
Hong Kong's future stability was 
underlined when the bidding hit 
the 700-millkm -dollar marie, apd 
applause broke out 

In 1480 the same site was with- 
drawn from tbc market by the i 
erament because bids were too 1 
In early 1984, at the worst point in 
the property market's slump, an 
auction of land nearby, called the 


mated 700 bidders. Leading prop- Admiralty fl site, drew" a final price 
erty companies participating in the of only 380 million dollars, 
bidding included Cncung Kong 


included 

Holdings, Sun Hung KaiTtaper- 
Lies. Henderson Land Develop- 
ment and Sinoland Co. 


«Ss>. 

wjiSh ^ 17 


wiisnh 

Wlton 

Wjndmr 

WRjnEn 

bsb 

Writer 

vzr 


Company Earnings 

Revenue ond proftti. bifnffTtoM. era In tool eurreneiM 
unlanelMvAeMleoM 



Britain 
(So Trito-ZiflC 

Year 1 IM mi 

RCMfflJ* S-WCL AIM 

Pr**» 1 +* 1 .~ *101 W 13 

per mm* ~ turns iuni 

KMC Group 
S^Voor IH4 m> 

llxnrmN—F. lJTfl. I ASB. 
Pretax nm^. 811 71* 

Per Share — OUT UH 


ABC 

WQ*tr. ms 

R***<Xia RU 

Ml tnc. M.O 

Pet Mart M7 

FuO name of < 


American 

etavoafe* 


ntt 
n*7 
2SM 
BBl 
or fc 


BrnmfctnUna 


Revwmie. 
Hat uk. _ 


AMF 
ms 
. m* 

_ (OMAI 


las 

ij* 


Avan Product* 


lit I 


r. me 

U*A 

Net inc. s.i 

NMMM-. Ut 

nurwmttt rmtiatmL 


Ml 

BJ 


M 

NO! tnc. 


Bank of Boston 

B--B 

121 til 
IMS art biduOa aotn of X 
man teem rum at 

BamcK h Lamb 


Control Date 

let aw. mi itM 
IttMM^. Ml ISA! 

rut inc. <al» Il.r 

Per Stnro — 087 

a: km Wetf biehMU km of 
via mum v* nato nt silt 
mum. 

Cox Comm. 

lit Ow. HB ItM 
Revenue — MM UOJ 

MM IOC »J Ml 

Par Share 0 ut» 057 

nets mcMU mttn of I SJ 
minion n StJ million iron 


ItM 
1ft 5 
157 
0*3 


Cydaps 
iti ow. ms 

RMNN 3305 

MM lac- XI* 

Par Snare— 083 

Dtabdd 


Early in the bidding, the site 
nearly went to Henderson Land for 
only 537 million dollars, at which 


Inflation 
In Bolivia 

(Continued from Page 11) 

money to save but it is impassible.” 

On these salaries, it is difficult to 
figure out how families are fed. At a 
large downtown market here, a me- 
dium-sized chicken costs £7, and a 
dozen eggs costs $2. “There is no 
relation between the prices and the 
salaries," said a woman at the mar- 
ket's vegetable counter. 

The government has attempted 
to make life easier by controlling 


“1 think today's price is encour- 
aging, 1 " said Barry rates, a research 
analyst with the brokerage Hoare 
Go vet! (Far East) Ltd. “Tnis site is 
larger than the Admiralty II site, 
but less attractive, and requires a 
much larger commitment,” ne said. 


Earnings Doum 
At Dow, Carbide 

The A aoauieJ Press 

Dow Chemical Co, said 
Thursday its first-quarter profit 
fell 16.7 percent from a year 
earlier, while another major 
chemical concern, UnionGir- 
bide Corp., posted a 34-pereent 
decline. 

Dow Chemical, headquar- 
tered in Midland, Michigan, 
said net income fell to S 1 20 mil- 
lion. or 58 cents a share, from 
$132 million, or 67 cents a 
share, a year earlier. Sales 
dropped to S2.75 trillion from 
S2.92 biHion. 

Union Carbide, based in 
Danbury, Connecticut, said 
first-quarter profit rombhri to 
S71 million, or 51.01 a rime, 
from 5107 milliqn, or $1.51 a 
share, a year earlier. 


Schering Announces 
72% Increase in Profits 


By Warren Gcder 

/jurmatema/ Herald Tribune 


the 

and 


FRANKFURT - 
West German 
chemical 

that 1984 net profit jumped 72 
percent, to a record 138 million 
Deutsche marks (about $46 mil- 
lion), from SO million DM the year 
before. 

Schering said it would recom- 
mend a dividend increase an its 
1984 results, to 12 DM from 10 J 
DM. The company said 1984 re- 
sults were aided significantly by the 

company's overseas operations, tied to the group’s 1983 acquisition 

narruvilarli' In tW»IT*h,«v1 Cisim _f r~Tl/— T . J 


be used to finance an expansion of 
U.S. operations, including the 
eventual launching of a new line of 
oral contraceptives developed by 
Schering, called Gestoden. Gesto- 
den, if u is approved by the Food 
and Drug Administration, would 
be the first birth-control pill to be 
marketed by Schering in the Unit- 
ed States. 

Schering saw its earning^ fall to 
80 million DM in 1983 from 103 
million DM and 100 million DM in 
the previous two years, largely as a 
result of major investment costs 


COMPANY NOTK 


Allied Investors Corp. bad its 
trading suspended Thursday by 
three Hong Kong stock 
alter the general 322 million 
(541 J9 million) offer confirmed by 
Hongkong £ Kowloon Wharf £ 
Godown Co, Wardlcy Ltd., finan- 
cial advisers to Hongkong Wharf, 
said that the offer all Allied shares 
remained at 1 1 dollars each. 

Air France, the state-owned air- 
line, said it would pay French au- 
thorities a dividend of 75 million 
francs (58.15 million) on 1984 re- 
sults following a six-fold increase 


the prices ofbasic food items, such in profits. The boardhasapproved 
as sugar and wheat. However, for thc ■“?«** firsl dividend payment 
the producers of many of these 


NM inc. 

Par3aor«_ 


ws m* 

111 1 1IM 
10*3 13V* 

UD 157 


Dow CKomkol 


.per Snare , 


-f ia 

Reuana* 


TEimSEMENT 

VITONAL FUNDS 

Supplied by Funds Listed 
18 April 1965 

*S55M» P * rsne,e " 

-W- monthly; {rj • 

OBUlrLEX LIMITED 

S1S3J0 — ^ (w) Muiiieurtt^. 

“}**» go»ar MeahimtST" 

SF W7J0 — S w ! 9® 11 " Lons li ~~ 

F llSilM “ w Joocnese 

S imm “i"! E 0uf «! Starling 

F iron on “I*! Deutsche Ma>l 7 '■ 

F lOas t'J — ! w ! pulCTi Florin _ 

F 1007TTO — ,wl 5w,si rrnne ~~ 

: 10I45Q* ORANGE N4SSAU0RO1P 
SF 2SS1 ™ wmSSmi 

SF W52 - w 1 0Fvef B*»«li*a»rt 

. S1U PASISBAS— GROUP 


in* 

19*3 




itf Qoor. 

3140 

14U 




Rovanuo 

fUJ 

7JJ 


MLM 


*3 

1.10 

Per »lw(« _ 

&S7 

ttJU 

Par Sacra 


1W 

law. 

into 

ra 


iw 

un 

mo 

0*7 


Neth. Antilles 

Sehtumborgor 
— ““ mis 

151 

■a 


Ml 


i5*a 

30353 

151 


Singapore 

OUB 


Switzerland 

.■ —i- 

nasua 


Y*ar 
Revtmie . 
PreUl 


mi ■ ini 
30100. 27.940 
l^K UIO 


—10 I Contra intrrmMm 
iinsn -t«ri paLl-D M ~T .- 

IStS — t*l oel.shtTom . 

. — t»ioa.L!.ni5Liis — ■ 


. l 

S sww osLi-bOLuf 

■ 5 , 5 -S — IlMlOBU-VEN 

■ « i« 7 t — ,w >DBUGULD€ii t, 

- “< 3 ’PA 90 lL.?UN 0 ZZl.' i , 

■ Si3» -1= ■ FARIKTcRPumHHJ 

* 147:7,5 -13 i P&R L -5 Traam li^~ .“ 

* 40 * 541 - "OVAl B C.FCANADUH 3 **-, 
* 4 * 0 ,* ■ +< “' RSC ConaflKii ?una ul_ 

- *,V? -*l*l RSC Far EiSiPadf^T,- ,v 

- * ?J -Tt»iR 5 CUinCMiHiFa_rf .i 
' i •♦«»' 56 : inn Iran* Pa — 

' • +l3 ' Ro '- waaCufnro fl_; 

“ £ 1404 ? R 3 C»«rm*inN Fc. 

_ *0570 SKANDlFOND INTL FUSOUT 
. JIU 24 — iwlln- Bi 3 „BD 4 '»^ 

. % UPO — (w)Ace.- BiO— SJ!?--: 

. *s.rr st . ENSkA internatiom-.: 

IT Cevonsr.lrB SoXandsMCt 

. * 35.71 —iM SHE Bard funfl : 

. *1140 — <*) 5 HB IWl GnwItlFi*-; 
il SWISS 3 ANF CORP IIJ 5 Ut»: 

& 3 * 415 " —10 i Amer-eo-Vel* -f 

SF 10415 — I a 1 Ct-AlorK BondSUltfa !• 
3 M 107.14 —is ) Dollar Bona StMa-.< 

SI 1232 — IC 1 Florin 3 ond 5 »liCfl»- '■ 

n 10371 SK — IC l metri gor— ; 

SF 107 JC -id i Jancn Pc£Wi 0 --— ■ 

SHUT — IQi 5 :*r ling Band Mn* 4 - 
SF 840.00 — (O I Swiss Foreign ««*■• 

SF 7450 —Id ) Swrwolor MejSaia. - e 
SF 10*75 —id I um.erscl Band 5 ( 00 -- 

* 1053-00 —Id I ur.lwrsol FoWL— — 7 
M ’ 02 'DC —id I van Bond StRdW — ■ 

SF is 

5 F 913 


United States 
Amdcdd 


lcrQaar. 
flCVHHM 

net Inc. 

Par Shorn _ 


we 

177 J 

4.11 

0417 


1 M 4 

1744 

115 

089 


BqBanufh 

nr, IMS 198 * 

N«f Inc ~ Si %£i 

Per Jhw»_ I.W 853 

MU net kuMte Ctmoe el 

s/Tjituttm 

Bucyrus-Eris 

utOoor. MB m> 

HMw m ia m3 W.« 

Naf Inc. OJf 403 

Par snort __ flfiS 030 

Cattna AkffaA 

MOM. IMS I 9 M 

RavMM U 2 .I 130 * 

Nai Inc 28154 tains 

Per Mart <UH — 

lit MM IMS 19 M 

Rmmn - 3107 34 1* 

Narine. *03 10)175 

Par Shorn 024 — 

Coloco 

IHQWor. IMS MM 

pavanua. 1*413 184.1 

Naf tnc. 27 >r am 

Par Shora 147 027 

Net metedee Mr of *» m/fc 
Han. 


Dun A Bradstr««t 

tit Qnar. HU 1981 

nawacwa 4312 > 4 U 

□nrr Maf MJ **7 

oner 3 toor«_ 090 074 

/» A nrl txdudrt palm at 
UtSJ million one at 1U mU- 
oon ntt results raitamL 

E a ton 

111 Ow. 1 MC MM 

Bavenua 9092 813.1 

Net Inc 43 « 998 

Par SIW* 1 VJ 1.77 


LCIlUll 


MB 19*4 
17245 17403 

982 1IJB 
045 055 

19*5 1M4 

353.15 3201* 

^ W 

WS Quarter net Includes 
Mas at S3* mutton 

F*t Amwkan Cp. 
utoaor. was i*s* 

Nal Inc. 0(5 7M 

Par Shore 080 0 . 7 * 


SodQw. 
Revenue — 

Naf Inc 

Par Share— 
WHOM 
Rcvenva — 

Net inc 

Par Shora 


(Other Earnings on Page 14) 


items, it does not make sense to sell 
them in Bolivia. So, when the prices 
fall too low, compared with what 
producers can earn in Brazil or 
Peru, these food items merely dis- 
appear from ihe shelves. 

The banking system has almost 
become obsolete. There is no need 
for saving money when interest 
rates are far below the rate of infla- 
tion, and people essentially spend 
everything they make. Three years 
ago, the private banking system in 
Bolivia could report 5600 million in 
deposits. At the end of last month, 
deposits had dropped to around 
SI0 million. 

The single hedge against infla- 
tion is the illegal purchase of dol- 
lars on Aveoida Camacho, dubbed 
Wall Street. A dollar on the black 
market is worth 120,000 pesos, but 
at official rates it is worth only 
50,000 pesos. 

The hyper-inflation has been 
caused by a government with few 
resources to run this country of six 
million people. The government's 
foreign-exchange earnings repre- 
sent only 15 percent of its revenues. 


since 1972. 

British Electric Traction Co. of 
London said bid acceptances have 
raised its stake in Initial PLC to 
95.2 percent and ihe offer is now 
unconditional in regard to the level 
of acceptances. 

Broken HIB Ply Co. and Shell 
Australia Ltd. appear to have lifted 
their stake in woodside Petroleum 
Ltd. to just over 50 percent, share- 
brokers in Sydney said. They ac- 
quired Thursday about eight mil- 
lion Woodside shares, equal to 
around 1.6 percent of its 500 mil- 
lion issued snares, at the 1.60-dollar 
($1.07) per-share offer price, the 
brokers said. 

CIT-Alcatel, a subsidiary of 
France’s Compagnie Gdntrale d’E- 
lectricite, has agreed to form a 
50-50 joint venture with Canon 
Inc.'s sales subsidiary to import 
specialized manufacturing prod- 
ucts to Japan. 

Continental Airlines machinists 
and flight attendants have decided 
to end their strike against the 
Houston-based carrier, saying that 


—1C ! JCW^invry— ■ — t 
DM — ifl 1 SclH SOUIRAIJJ 2 J — r 

russeis uniom uiv ESiMERTWr. 



arab african international bank 


Balance Sheet as at 31 st December, 1984 



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■mi 







CONSOLIDATED 8ALANCE SHEET 




1984 

1983 


U.S. SOOO 

U.S. SOOO 

ASSETS 

Cash and Banks 



Cash and Due from Banks 

339.250 

434.236 

Time Deposits and Cemiicaas erf Deposit 

1,308.867 

1,370.187 

. 

1,648.117 

1.804.423 

investments 

230,696 

152.440 

L03ns & Advances 

Accrued interest Receivable and 

2.419.509 

2.339.279 

Other Asseis 

102.893 

96.751 

Fixed Asseis 

43.703 

43.208 

Total Assets be! ore Contingent Accounts 
Clients' LiabtWies Iw Letters of Credit 

4.444.918 

4.436,101 

and Letters of Guarantee (as per contra] 

737,616 

912.245 

LIABILITIES 

5.182.534 

5.348.346 

Customers' Current 5 Deposit Accounts 
Banks 

983,375 

1.017.486 

Time and Fixed Deposits 

2.765.873 

2,719.210 

Bank Borrowings (FadBues) 

92.264 

156,569 


2.858.137 

2.875,779 

Certificates of Deposit 

40.000 

40.000 

Shareholders' Loan 

11.737 

— 

Proposed Dividends 

Accrued Interest. Provisions & 

7.375 

14,575 

Other Liabilities 

229.449 

166,503 

Minority Interests 

67,315 

80,178 

Total liabilities 

4.197.366 

4.194,621 

SHAREHOLDERS' EQUITY 



Share Capital 

150,000 

140.000 

Reserves 

98,510 

98.954 

Undivided Profits 

941 

2,626 

Revaluation of Branches' Capitate 

( 1.921) 

— 

Total Shareholders' Equity 

Total liabilities & Shareholders’ 

247,530 

241.580 

j Equity before Conimgenl Accounts 

4.444,918 

4,436,101 

Group's LiabHUIes foe Letters of Credit 



and Letters of Guarantee (as per contra) 

737.616 

912.245 


5.182.534 

5.348.346 

Mbltatned S Bayoomi 

EbnMm A1 StraUm 

Member of Board of Directors 

. Chauman & Managing Director 


Auditors 

Or. Abdel Aziz Hegazy & Co. Zakl Haasra, Husd Hissan & Co. 
Public Accountants (Cairo) Public Accountants (Cairo) 

Poai. Marwick, Wtcfwfl & Co. 

Chartered Accountants (London) 


(Million U.S.S) 




70 75 

Total Deposits 


they were no doner to a settlement 
than when the walkout began IS 
months ago. Oily the Air Line Pi- 
lots Association remains oul 

Ford Motor Co. has introduced a 
new dear, heat-reflective glass that 
it hopes wiD gain 25 percent of the 
residential glass market by 1989. 

Kowloon Bcrarkfay Supply Co. 
of Hong Koas has si^icd an agree- 
ment ro double its com- 

mercial-paper facility to 500 mil- 
lion Hong Kong dollars, Schrodexs 
Asia Ltd. said as agent. 

Overseas Ihfam Bade Ltd. of 
Singapore said it proposed a 1-for- 
5 rights issue at 2i0 Singapore dol- 
lars (51.14) per share. It said the 
new shares would not be entitled to 
any interim dividend declared for 
calendar 1985. 

Whitbread & Go. of London said 
it has agreed with TGI Friday’s 
Inc. of Dallas, a subsidiary of Can- 
son Cos^ to open TGI Friday's 
restaurants in Britain. 

Xerox Corp. has announced pre- 
liminary plans for an 58 billion to 
$10 billion commercial and resi- 
dential development in Leesburg, 
Virginia, including as many as 20 
separate corporate headquarters 
and about 1,800 upscale homes. 


particularly in the United States. 

The Berlin-based company said 
sales in the first quarter rose 17 
percent to 1.42 billkm DM from 
tbc first three months last year. 
Saks of chemical fertilizers were 
depressed in January and February 
due to severe weather in Europe, a 
spokeswoman said. 

Schering sales in 1984 grew 14 
percent to 4.88 billion DM from 
4.28 billion DM. Saks in the Unit- 
ed States topped 1 billion DM last 
year, making the US the largest 
market for Schering products, fol- 
lowed by West Germany. 

Klaus Pohle, managing- board 
had forecast earlier 
year that group net earnings 
would exceed by “at least 50 per- 
cent” the group’s 1983 profit He 
said at the time that a strong and an 
expanding U-S. economy would 
benefit Sobering more than most 
West German co m pa nie s, since 82 
percent of (he groep’s revenue 
stems from foreign sales. 

Mr. Pohk also had indicated 
that much of the 1984 result would 


of FBC Ltd, a British agrochemi- 
cal group. Earnings were also hurt 
by losses in Latin America, 

Gundi Narr- Linder, company 
spokeswoman, said a cereal fungi- 
cide made by FBC, called Sportak, 
had a highly successful year and 
was a key factor in boosting Scher- 
ing's 1984 earnings. Also helping 
earnings, she said, was a return to 
profit in the electro-plating divi- 
sion. She said the only significant 
losing area in the group remained 
the D iamnl t AG SUl 


AUCTION 

MARINE SALE 
26 BOATS & BARGES 

MAY 16th - 10 AJA. 
HOUMA, LOUISIANA. 


(5) Alum. Crew Boots: 1982 
to 1978. 38’ to 125* Long. 
(14) Push Boats: 1981 to 
1967, 400-HP to 1,700-HP, 
50’ to 80’ Long. (3) Utility 
Vessels: 1981, 460-HP, 65’ 
Offshore Vessels. 

Supply Vessels: (1) 1968 
1,700-HP 153’ Supply Ves- 
sel. Barge*: (1) 1980, 130’ 
w./ mud tanks; (1) 1980, 
264* tank barge; (1) 1980, 
110* material & water barge. 
FINANCING: available to 
qualified buyers thru WCC 
call: (504) 833-1961. 

WRITE OR CALI FOR 
DESCRIPTIVE BROCHURE 
(405) 842-0920. 

La License #623-8485. 


EBCO 

AUCTIONEERS, INC. 
P.O. Box 14008 

Oklahoma City, 

Oklahoma 73113. 


NOTICE TO THE HOLDERS OF BONDS OF THE ISSUE 
11.50% of U.S.$ 100,000,000.- 1080/88 MADE BY 
THE EUROPEAN G OAL AND ST EEL COMMUNITY 

THE COMMISSION OF THE EUROPEAN COMMUNITIES AN- 
NOUNCES THAT THE ANNUAL INSTALMENT OF BONDS 
AMOUNTING TO LLS4 25,000.000.— HAS BEEN PURCHASED FOR 
REDEMPTION ON MAY 15. 1985. 

AMOUNTIN CIRCULATION AFTER May 15. 1985 
U.S.S 75,000,000. — 


lOllS (ptaataS/aO- 


Aim 



14*. 

3JB 

MOMUO 



__ 

330 

17*1025 

20033175 

__ 

310 

47**2 

H333700 

2*02375 

» 

250- 40 

117*03 

197*3075 

360 

130 300 

8751025 

137*1775 

3W 

1X0.230 

82*773 

127*1475 

30 

— — 

45* AXD 

102*1173 


GOtt 3000-3255! 

Vakvt White WcU SLA. 

« TTwl fc ring Hlir 
IZU Gam 1, Saltmitairf 
T«L 310251 • Telex 2*3«3 


We are pleased to announce the opening of our 

AMSTERDAM OFFICE 

at the 

World Trade Center Amsterdam 
Stravinsky lean 1331 
1077 XX Amsterdam - NL 
(Tel. No. 020 - 62 44 12) 

under the direction of 

Messrs. Alexander WjV. van Olphen and 
Pieier-Panl BJL Peters 


CARRE, ORBAN & PARTNERS INTERNATIONAL 

Management Consultants 

Executive Search, Management Audits, 

Mergers & Acquisitions 

Amsterdam, Brauns, Dnuddorf, Genera, London, Milan, New York, Paris, Rome, Zorich 


Announcement by n Sooth African organization 



Dr.B.vtmSioden 
Deputy Governor, S A Reserve Bank 


SOUTH AFRICAN 
ECONOMY READY 
FOR TAKE-OFF 

Dr. B. van Staden, Deputy Governor of the South 
African Reserve Bank talks to David Carte, Editor of 
the* Sunday Times Business Times \ 


I 


1 ntemarional investors are caking 
a new look at South Africa. 
The South African economy 
has suffered significant set' 
backs in recent years but, according 
to S A Reserve Bank Deputy Gover- 
nor, Dr. B ramie van Staden, it is now 
bumping along the bottom preparing 
for lift-off. 

South Africa produces 80 per cent of 
the Free World’s gold and this metal 
recently accounted for half the coun- 
try's exports. As a result South Africa 
has been adversely affected by weak- 
ness in the dollar gold price for most 
of the past four years. 

The country has also been beset by a 
three-year drought that only now is 
showing signs of ending. These fac- 
tors, together with monetary and 
fiscal policies that have been too 
accommodative, caused inflation to 
rise and the currency -the Rand -to 
decline steeply. This, in turn, fuelled 
inflation further 

On nearly all fronts the economic 
outlook is improving. Fiscal and 
metary policies ' have been tight- 
I dramatically and first signs that 
economy is responding are now 
; to hand even though the gold 
price remains relatively depressed. 
The decline in the Rand was arrested 
when the Rand readied 42 US cents 
in January. With little assistance 
from the gold price the Rand has 

subsequently moved above SO US 
cents— but the delayed inflationary 
effects of the Ming currency con- 
tinue co be felt n} such a wide open 
economy. 

The inflation rajfc, as measured by 
the year-on-yevrise in the consumer 
price index, wak 16 per cent at end 
February and is expected to peak at 
18 per cent in the bat three months. 
After that, providra^there 
deterioration externallyJ'InJpes are 


high that the inflation rate will 
decline sharply as today's more dis- 
ciplined economic policies take 
effect. The Minister of Finance pre- 
sented a conservative budget to Parli- 
ament in mid-March. The projected 
rise in Government spending was 
held toll.4per cent and anetUS$850 
million was taken out of the income 
stream in the form of higher taxes. 
This reduced the Government’s bor- 
rowing requirement to 2.2 per cent of 
the gross domestic product. Long 
term interest rates weakened almost 
immediately after the budget. 

The budget was preceded by draco- 
nian monetary measures. These had 
the effect of curbing domestic 
demand, reducing import volumes 
and restoring the current account of 
the balance of payments to surplus. 
While beleaguered with the same 
problems that have crippled many 
developing countries, thanks to rela- 
tive economic conservatism South 
Africa remains in sound basic condi- 
tion. It can afford to grow apace again 
once the balance of payments is more 
convincingly in surplus Foreign debt 
has risen to US$20 billion but this is 
not a fifth of gross domestic product 
and the interest cost amounts to 
about 6 per cent of exports. The 
current account of the balance of 
payments returned to surplus 
recently and continues to improve. 
Foreign investors have already rec- 
ognised Sonth Africa as one of the 
best areas in which to hedge against a 
weaker dollar. If the dollar starts to 
weaken, investors in South Africa 
stand to gain ona higher gold price, a 
stronger Rand, declining interest 
rates and a rise in the Johannesburg 
Stock Exchange. South Africa 
long performed out of s ync! 

jn^flh^Wfesi^jream^ies and 
already hedge funds are flowing in. 


So much for the short term attrac- 
tions of the South African economy. 
Longer term, the country offers: 

• A veritable treasure house of min- 
eral and other raw materials. 

• An advanced infrastructure. 

• Economic authorities who are 
committed to private enterprise 
and conservative management. 

• The promise of above-average 
growth as the third world sector 
rapidly westernises. Education is 
now the biggest single hem on the 
nation’s budget and is projected to 
absorb 5 billion Rand this year 

These are some of the factors that 
have enabled American investors in 
this country historically to] obtain 
after tax returns of more thaq 16 per 
cent per annum over the long i 

In some ways, the South 
economy today stands where < 
Western economies stood in 
While the Government has acl 
ledged certain social 
priorities, it has 
reduce its role in tty? economy, 
reduce company ana personal 
tion over a period of. jyijfr-tind 
encourage the informal sector. 

The South African Resei 
srudiously stays out of opHfics but 
Dl van Staden nails his colours to the 
mast on the disinvestment debate. 

Development is J6y far the most 
important quesjron in Africa. Survi- 
val dependsortit. While we in South 
Africa arp^D per cent independent in 
caph^we do need foreign invest- 
to be able to grow at a rate that 
provide employment for ail - the 
disinvestment campaign will injure 
most seriously those whom it seeks to 
help. 










•• -vw; 


Thursday! 

AMEX 


dosing 


Tables Include the naf toawlde prices 
up to the closing on Wall street 
and do not reflect late trades elsewhere. 

Via The Associated Press 


12 Month 
Utah Low Stock 


Dtv. YkL PE IMS High Low QuoLCHW 


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AUDITED POSITION STATEMENT AS AT 31 DECEMBER 1984 


1984 

1983 


USSOOffs 

USSOOO’s 

Assets 

Cash and banks 

7,780 

10500 

Time deposits 

105,314 

103,476 

Certificates of deposit 

49,874 

76,819 

Bonds auad notes 

45,071 

32,064 

Short term facilities 

52,410 

30,104 

Bills discounted 

45,577 

33,046 

Loans 

276,745 

252,799 

Equity investments 

65^11 

70,41 1 

Accrued income 

12,476 

10,720 

Other receivables 

7,494 

6,295 

Fixed assets 

19^13 

21,228 


688,165 

647,462 

Liabilities 

Accounts payable 

2,677 

2.622 

Deferred income 

Provision for staff termination indpmnitrps 

1390 

7 OAR 

1241 

A <WT vuiuu IVI dUUI iMlIlllIICbUvil LI 1 W* 1 0*88 UVj 

Proposed dividend 

A7UO 

10*541 


Accepted deposits 

31 3J93 

286.403 

Accrued interest 

5,644 

4,337 

Shareholders' 1 Equity 

Share capital paid up 

336,513 

296,981 j 

(Authorised US $300 million) 

288,140 

288.140 

Surplus 

63^12 

62,341 

I** <*■■■■■■■< llimtc and rAntinna«4 f InkSlSfLu- 

351,652 

350.481 

MUM X^/UUUgVU L UOUII1UU 

Commitments 

Loans and others 

91,827 

135,650 

Equity investments 

Contingent liabilities 

8,437 

14,785 

Confirmation of letters of credit 

115S49 

134,644 

Contract guarantees 

Letters of guarantee 

9623 6 
7,785 

136,429 

10 846 


320,934 

A V,t/TV 

432.354 


Shareholders: The Kingdom of Saudi Arabia The State of Kuwait The Democratic Republic of the Sudan 
The Arab Republic of Egypt The State of Qatar The United Arab Emirates (Abu Dhabi) 

The State of Bahrain The Syrian Arab Republic The Republic oflraq The Hashemite Kingdom of Jordan 
The Republic of Tunisia The Kingdom of Morocco The Socialist People's Libyan Arab Jamahiriyah 
The Sultanate of Oman The Arab Republic erf - Yemen 


THE ARAB INVESTMENT COMPANY S.AA. 

=S=.=^=F AMMAN BAHRAIN CAIRO KHARTOUM RIYADH TUNIS 



2 USR Ind 
R* UURW 
VS Untcorp 

1114 Untcpp* JS U 
t4* Unbnrn joe *J 
141* UAlrPd -54b 23 
144* UnCosFm 
If* UFoodA JO 50 
IV* upoodB _ 
ion utwwu *51 45 
ion usAOwt 

44* uiritwv rims 
rib Unity B lUOc 
74* UnvCm 


24* 24* 
U* 134* 
4* 9k 
134* 134b 

mb tow 
1Mb MVS 
22V* 22 
2 11 * 
19k 14* 

174* 17V* 
44* *4* 

w* 

13V4 IM 

M I, 

m* im 


K-)fc 

m 

m* + v* 
221 *— A 
2 

11 * 

HA— A 
17A— V* 
*4* + A 
104* + A 
13V* + A 
■A-+A 
Mb 


NTSEH^fas-LovB 


April 18 


2SA U QMbBS 30 


5 244* 24 2444 +IA 


44* 5 

SV1 34* 

a 2 V* 

20 12V* 

4A A 
144* 104* 
*Vi 14* 
174* 10V* 
504* 274* 
BA 54* 
4A 3A 
II rife 
1Mb TOM 
4Vt A 
284* 11A 
304* 20V* 


RAI JR £2 13 

RMS El 

RTC 

Rorabp 32 4AB50 

Ramtt 

Rovw, 43 14 7 
RWOaw 

RnalB mu i 
RrarfA 

RnUk 13 

R*W*nr 12 

JUWptP JO 1J 14 
RidAJp 35 XO 
RtoOOr 

Rdtwva J 2 10 22 
Romti .12 J 12 


17 44* 

4 4 
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103 MVS 
2 1A 
M I2A 
32 34* 

34 m 


24* 24* — A 
14V* MVS + A 
IV* JA — A 
124* 124*— A 
34* 344 + A 
12V* 12VS— V* 
47 47A +1 

■ I 

on eh — A 
104* 104*— A 
lrit 78* 

A A 

2VV* 20V* — A 


SBC 


Floating Rate Notes A pr a is 


Dollar 



*rr 


WA *5 
5* 2*4 ' 
B** SW ' 
9* 117 
9* 2M 
■* 3V7 ' 
94* M 
9J* 27-72 
BVi 2M 1 
9V6 134 
10V* *7 

» 

AM 

& ZE-d 

A JW 
9*V 13* 
M* 1S7 
WW 3W 
9* 21-5 
1BR 20-5 
Ml* IM 
9A 2W 
«* j-w 
rx. 2 M 

9 . 2W 
IM 124 
W *4 

ns zw 
«A 9-M 
n* i»7 

9 A n-™ 

MS. «.» 
n 9.» 
9» *7 

e ss 

9 137 

n* U4 

9 1*7 

10A 11-9 
•J5 20-1 






94* 1W 
5* u 
SA JM 

n* n-w 


K 





P 

flIRM 

0 



9^ 




9V* U-M 
9V* &7 
IM U4 
10 71-4 

*> 114 
94* JJ-5 

Mb IM 9942 99 J2 
94* 154 9924 9934 
91* WO 
10 54 

W* 2M 
91* IM 1 


m 


m 


n* 194 ' 

fl* JV5 ' 

L i 

5* 3*4 I 

n H 1 
n 3*4 i 
MR 40 1 
UftSi M 1 
9. IM V 
mt im i 

Aw IM 1 

n* n-wi 

TVS 344 V 
h*. 344 V 
JR 107 1 

K 274 1 

94* H-H1 
JO* TH \ 
»A 134 1 
M. 2M 1 
A* f-l» 
*VS 244 

A 3i 

99* IM 

TS* M 




m 


Non Dollar 


ftf! w_ 































































pmmmKjs ation a l classified 


(Gontinned From Back Page) 


SWIBBUND 


REAL ESTATE 
TO RENT/SHARE 


GREAT UfTAIN 


REAL ESTATE 
TO RENT/SHARE 


PARK AREA UNFURNISHED 


' Rom FI 



USA GENERAL 


SOyTWAST C OLORAD O . 9J69 
oam iky tend whotf hrm V iota. 
Tat; pp&tusn/ mm 


ISA RESIDENTIAL 












Management Changes 
Announced at Nedlloyd 

By Brenda Hagcny Braijn will be filled b\ Piacr Knoi 
immaaovi HenUTntmue tcnbdL, who currently is manager 


6m A mat let rare, ideal far 
laotpMXM duS la« flurto room. 1 

doutfa, 2 nwlt bedroom. 7 bod* 
maa. AvolabW Hay 7, 1/3 worths. 


WZA 

Mirror mot. hrtcac i*a MM. 
ledacfadloaeon. near beach. I6mn 
Goo fees Uac, 5 mm Puerto Shoo, 5 

I KM werty BMW 3 ***<#. CoS 
Awrio535ij 3U5 Of Pert 256 0255 « 
lac imHMtf Mm*. 92521 Nari- 
ty Cede*, France. EvMhiriy tat lok 


K8NSMGT0N SW7 
Brand new unfurnshediMMOfielte near 
the french Lucia. 1 la en c oo n, rtvng 
hi luxury loUwn wttholi3xm* 1 2 
doubta bedrooms both with both M 
nw. Awalcble now for or* yaor ptm 
Company lal only. £400 par week- 


1 




N.Y, N.Y, 1 


NANTUCKET- Excellent wm rent- 
als & writ o«o*±k. r^rtudMf lt£ 
Ca Box 426, Nortxfcrt, A4> 02554. 
Co* 617 22625 30 J5A 

CorporttfRopaliMni 

funvthedL 6 1/2 
425 E. 58 St. 




REAL ESTATE 
WANTED/EXCHANGE 



H YankCo 9 

A Yardnv M 1J 13 


5W Ztmmr .10 U 


VA 


LONDON - Royal Nedlloyd 
Group NV, the Dutch transport 
and energy company, has an- 
nounced changes in the top man- 
agement of two of its main units. 

Nedlloyd said Tfceo Otssanjen 
will become chief operating officer 
of Nedlloyd Lines, succeeding Jack 
de Nee/, who will retire May 1, 
1986. Tom Henkctnans. currently 
the shipping line’s regional rzutnag- 


will succeed Mr. Oostitycn as trade 
director for the Far East. 

In addition, Nice Hansen of 
Nedlloyd Lines’ European trade di- 
rectorate. is to retire, and Rob van 
Hccrcn, who currently serves as a 
trade director jointly with Mr. 
Hansen, will have full responsibil- 
ity in this area. 

At Nedlloyd Energy, Ton de 
Bruijn h?s beat managing 
director, effective Ocl 1. He wiu 
succeed Cees Burgcndijk, who win 
become managing director of Ra- 
dio Holland BV in Amsterdam on 
the same date. 

On Aug. 1. the post of secretary 
of the executive board of the Nedl- 
loyd Group vacated by Mr. de 


Bruijn will be filled by Pieter Kikh- 
tenbdu who currently is manager, 
conference and shipping policy, at 
Nedlloyd Lines. 

Banqoe PatOfts has appointed 
Michel Jacqoei general manager of 
the New York branch. He was ex- 
ecutive vice president of the Paris- 
based bank's Asia- Pacific division. 

Hffi Samuel & Co, the London- 
based merchant bank, has opened a 
representative office in Tokyo 
boded by Donald Rushton, who 




Samuel’s New York office. 

Baric J. Vontobd & Co-, a Zu- 
rich-based bank that specializes in 
asset management, said Robert 
Sirebd will join it July 1 as a depu- 
ty chairman of the executive com- 
mittee and head of customer rela- 
tions with institutional cheats. Mr. 
Si rebel was a member of the group 
executive board of Fioanrifrre 
Credit Suisse-First Boston and 
chairman of CSFB Securities and 
Valeurs White Weld SA in Geneva. 

BeB St Howefl Ltd. has appointed 
Stuart W. Heap to the new post of 
director of operations in its inter- 

ngrir»na[ yj m| co mmunicati ons di- 
vision. He joined the division as 
financial dinxter in 1978 and in his 


new post will be responsible tor its 
operations in Europe; Africa and 
the Middle EasL 

Thorn EMI has named John Sib- 
kya vice chairman. He will contin- 
ue to be responsible for corporate 
services for the consumer goods 
and entertainment concern, which 
is based in London. Also, Colin 
Southgate was named managing di- 
rector with responsibility for com- 
pany operations worldwide. 

PiriSp Moms EEC has named 
Michael D. Horst via president, 
corporate affairs, succeeding Mary’ 
W. Covington, whose new past is 
yet to be announced, Mr. Horn is 
responsible feu governme n t and in- 
dustry relations as well as commu- 
nications ami public affairs. He 


mem, 

sponsible for markets in Belgium. 
France. Luxembourg and (he 
Netherlands for Philip Morris 
EEC which is based in Lausanne. 

Investment AB Beijer has ap- 
pointed Lars Arons&on president of 
Beqer Satellite and Cable, a new 
unit. He previously was associated 
with Tdevcrkct, the Swedish tele- 
communications agency' 

Perkin-Etmer Data Systems has 
named Keith Hobson general man- 
ager, European operations. Mr. 
Hobson, formerly in Sydney as 
managing director ana general 
manager of Perkin-Elmer Data 
Systems Australia and New Zea- 
land, is based in Slough, near Lon- 
don. 


Page 17 


Sweden Nutts 
Euroyen Loan 

Iiturmmonaf UersU Tribune 

PARIS — Sweden canceled cm 
Thursday its planned syndicated 
credit of 100 billion Euroyen. 

The credit was to have been the 
first medium-term syndicated loan 
denominated in Euroyen following 
the April-1 deregulation of the 
market by Japan. 

The Swedish National Debt Of- 
fice announced in Stockholm that 
at the end of the invitation period 
alt of the 12 major Japanese banks 
invited by lead manager Sumitomo 
Bank Ltd. had declined to partici- 
pate. “As a result, Sweden has de- 
cided to cancel the proposed inns- 


the office said. 

Bankers said that the cancella- 
tion was the first they could recall 
in the Euromarket and that they 
regarded it is a major embarrass- 
ment for Sumitomo Bank rather 
than for the borrower. 

The loan was to have been used 
to replace a S300- million seven- 
year loan made to Sweden in 1982 
by the banks invited into the Eur- 
oyen transaction. 

Ostensibly, the banks which de- 
clined to join the loan objected to 
the low cost — an interest rate of 
^-percentage point over the Lon- 
don interbank offered rate (Libor). 
Sweden was not expected to have 
needed to draw on the loan. 


autos tax ran: I INTERNATIONAL classified 


AUrOMOMXS 

ora completely hondbw* in Amoco. 
On ly U of the Zip uay oetott oa far 

oo cod Mdd2« Eat market. 

New for 198S (far brae* aahOd a 
Moo t Ganerd Motors Sjfitre to e» 
pine produang XO HP. n tb noturrt 
fens or 425 HP. when tt pereharyd. 

Prices Mart a USS6SJ3 0 + opb o nct 
eqptpro en t {FOB factory}. 

The wWr of We IS* 
C en rrn e n hOerartl— rt rtyw 
term!., ear Mm. Apr* vfts 

D ni rye ry oprabeiaarfy S Mela from 
order, mm oEoc o rirt t IcB H. For mors 
nfermcu o n cortnB fta sofa and cafe- 
Bve dembutorj; 

EXCA1MUR MOTOR CAR 


MmAn 

fanSaCmfa. 


AUTOS TAX 


Caps of 
Copenhagen 
TAX FREE 

_ ■ ... - ^ i — 

■ RBEfOMOa XMH 

• WoridMle (Wvory 

• European Pnee leoden 

• TMC45 t 37 7S 00 
e Telex 19732 DK 

55 VedrafbMt OK- 1900 
(7H V.-OENMAJK 


AUTOS TAX FREE 


TAX NS AUTO SA1B 
Order year EuropMn - US - aid UK 
ootomoUeL 

Cor rental, uAnled raieoge. 
Ueeing new car 1 to 6 mom. 
Tele. 500571 Tab 651 4342. 
flame, 2 Am Per* de SaM Oeod 
flab 7501*. 


TAX FES CARS 
P.CT. 

Al make*, di models brand new 
(nifacn 1 2008 AotMT p . Belairo 
rSrkOJ&m Tk 35546 PHGWTB 
Send U^5 far catalo g 


NEW PEUGEOT, laid fever. Range 
lover. Toyota. 4x4, tropcal ipea 
Bata, Zn tn eboo B 19, Momten- 
broek.HoIcndpa0445492.tx 47082' 



SERVICES 


LONDON VUGU. H7UCATB} Young 
companion. Tel: 622 6615 


WEST DOAN LADY Conpantti Td- 
London 381 9847. 


PAMS YOUNG SOPHBTICAT® W 
mfcoudPA.50089 72 


PAMS MUNGUAL ASSISTANT to 
bt^nea execubveL 500 £S 17 


TOKYO LADY COMPANION. PA 
Person^ Amstant 03-456- 5S39 


HONG KONG - 3-620000 Y«v 




HAMBURG -YOUNG lADYcompor* 

Tat 27 04 57a 


LONDON: EDUCATH) LADY Cam- 
Guide. Tel: 689 1694. 





ion London/ HeaSirow 01 385 


TOKYO 645 2741. Toumg & Aop- 


HIMALAYAN A MOUNTAIN tpedc^ 
■t, French 35, fluenT Enalah. seefa 
dtaBengng paafioo with four opera- 
tar ar travel agendes worldwide. Tbc 
643138 FranaL&L 007 / Me Bax 
2059. Hettdd frfaune, 92521 NeuAy 


NEW MERCWES 

PORSOft BMW. EXOTIC CABS 

FROM STOCK 

far IMMSMIEcUmry 
BBTSBtVKX 


BOATS A 
RECREATIONAL 


’j : t f » p xi 


SECRETARIAL 
POSITIONS AVAILABLE 


11BPIK SlA, Chouaee de Wear* 
465, 1040 Barnett, Selnm. 
Phones <02)64990^tefcc 63290 


TRASCO 

IK MBKHCS SnaAilSTS 

Toe Free LHS.Al M odeftiodsxSng 1000 
SB. A * ryfa bnonenet far a rm tfal a 
dxpmertf from tfodt 

ffA/DOT eerti S catioti & deppin Q by 
the expats. 


Tratco London UdL 
It Hawadan KJ, London NW2 781 
Tet 01-2* 0007. 

Teh* 8956022 7BA5 G. 


emre 8w hlLSA 

RUTEINC 

Tonalr. 52,6000 Fmddurt. 

W Germ, W 06M32351 . tfx 41)559 
hfet motion eely by phene or oh*. 


reiidmlinl «g on 1300 KJjn. 

CHAKMMG HOUSE 
bia recaption. 3 bed r oom + 
BUE5T HOUSE 273 bedraoaa. 
GfftC (3 951 54 97 


FAMOUS RESORT AREA 

OO YOU 1MSH « 

■ TO BUY AN APAXW£NT 
OBAHOUSB 

- TO fifTltE M SWTTZ9LANC4 
• TO INVEST NSWirZBBAND? 

CONTACT USi 25 YEAR5 OF EXPB8- 
B*ICE N BLBUXNG AND SBUNG 
FV4E SWISS REAL ESTATE 

SOOIMSA. 

, f. CL Box 62, 

MK VHrex. SMtzerfand. 

Tb: 454213 GESECH 


A cnee ■ a Mam oppon u noy 

SCHONRE) 

enty a 6e»r auxtiu ft am lovely Gdoad. 
ApaweaB at pnem 
■pn fa oeBy lower t hon Gfto dd 
MMaMBm-HlBH SM« 


HOLLAND 


-DUTCH HOUSING CB4TK B.V. 

Defaee rimek. V(Atnu«r. 174. 
Amderdom. 020621234 or 62322. 


TUESDAYS 

fa the NT Ckmdffed Indian. 


SECRETARIES AVAILABLE 




DOMESTIC 
POSITIONS WANTED 


Secure* 

Scant-** 



ON SBNE BANK (78) 







SERVICES 


YOUNG LADY 

PA/lemrpmtar A Touram Guide 

PAULS 562 0587 


** PARIS 553 62 62** 

POK A BEAL YAP. YOUNG LADY 
DetmgoRChod, B y* AMtAnguoL 


YOUNG BEGAN! LADY 
PA. PARIS 525 81 01 


* Vff YOUNG LADY * 

Very ed u emed elegant & trfintud. 
PABK533B0 26 


* PARIS 527 01 93 * 


TOKY O: 442 39 79 

Ewopeot young tody conpotion. 


PAHS 704 BO 27 
W PA YOUNG LADY 
M JlftT g un L 


HONG KONG 3471 267 young lody | YOtMG OCEAMC LADY m London 
— 1 01-245 9002 Airports/TraueL 


Pfocfl Your Classified Ad Quickly and Easily 

bitten 

INTERNATIONAL HERALD TRJBUJff 


By Ptiene: CaH yoor local HT mpresentotive with yaar text You 
wdl be mformed of the cost immedaiety, and once prepayment is 
made your ad wifl appear within 48 hour*. 

Caeh The banc ran it $980 per bie per day -t* local taxeL There tfe 
25 fatfaiA voces m the fim Sne and 36 in fae foBowing End. 

Mirinxm tpoee it 2 bat. No abbreiial i o m ooccpted. 

Cmdb Code: American Express, Diner's dub. Eurocard, Matter 
Card, Access and Visa 



MADISON AVE. NYC- CondomMun 
at Sltf Sr. 725 sq. ft. 
maintena n ce . Ooannan. OfiO j xXL 
21277270631 


S3333SE23 1 


INTERNATIONAL 
ESCORT 
USA A WORLDWIDE 

Head office in New Yort 
330 W. 56th SL. NY JC. 10019 USA 

212-765-7896 

212-765-7754 


47,9990 


ESCORTS & 


LONDON 

BBGRAVIA 


Tab 736 5877. 


AMSTBDAM (020) 1*2197 
TKJSTTUL LADY COMPANION 
Charafag, eduaPeet trovefad. 


HEAD OFFICE 


flark: (For dasdhed orfyj-. 
747-4600. 

ajROPE 

Ameterdon: 2636-15. 
Athene; 361^397/3602421. 
BnHeefac 343-1899. 
Cep e nh c ij i; (01) 329440. 
Frankfort (069] 72-67-55. 
Lausanne: 29-58-94. 

Lisbon: 67-27-93/662544. 
London: (DI] 836480Z 
Madrid: 455-2891/4553306. 
MBtob (02) 753144S. 
Narwayi (33) 845545. 
Kama: 6793437. 

Sweden: 08 7569229. 

Ttd Aviv: 03455 559. 
Vienna: Contact Frankfurt. 

UNITH> STATES 

New York: (212) 752389a 
Wert Coast: (415] 362-8339. 


LATIN AMERICA 


Baenae Aires: 41 40 31 
(Dept. 312) 

Guayaquil: 431 943/431 
Lina: 417 852 
Pnma: 64-4372 
Saa Jose; 22-1055 
San&voc 69 61 555 
Saa Pnulac 852 1893 

MIDDLE EAST 

BrtMain: 246303. 
Jordan: 2S2R 
Kuwait: 5614485. 
Ufevioit: 34 00 44. 
Qata: 416535. 

Saudi Arabia: 

JedtUi: 667-1500. 
UJLE.: Duboi 224161. 

FAR EAST 

Bangkok: 39041637. 
Hang Kane: S213671. 
MenBcn B17 07 49. 
Seoul: 7258773, 
Singapore: 222-2725. 
Taiwan: 752 44 25/9. 
Tokyo: 504-1925. 

AUSTRALIA 

Sydney: 929 56 39. 
Ma ffi o u tn e. 690 8233. 


ESCORTS* 


ZURICH 

Ti i utH i a V Eeoert B Guide Service 
Mrte B f o n d l e. Tet 01/56 96 92 



74 CHAMPS-ELYSBES 8fh 

Srudb, 2 or 3room op u rt m a*. 
One north or more. 

IE CLAJBDGE 359 67 97. 


AUTO RENTALS 





SHOPPING CENTERS 
fa prime Sunbelt area A»pttwe firanc- 
eta, eeaawil cash flow. Cal TMNS4A 



AUTO SHIPPING 



Very te teu o u Ky pneed but 
aba the bad & mod ndant Pro 
ham about LS540/)00. Mortgages a! 
6H% nteretL Please vise or pfemr 

H. SSOLD~SA 

TCX® G&SE 6 CK.1CC7 laauxxw. 
Tel 21/25 26 II. Th 209* SOO O* 


VIRGIN ISLANDS 



WEST EDDIES 




& 

Sf 

WS 

r* 
££ 


VALAIS / .SWiTZBcLAND 

CRANS MONTANA 
THYON, UcS COUjONS 
ST. LUC, YAL ffAIWWS 
HoB end chdeit 25 to ISOsqA, 1 *b 5 
iww.Cr«faj0!L Mere* rote A755L 
ftdOW bridal. 

VAL PROMOTION SA 
10 AW. du JWS. 0+1950 Sen, 
TeL 41-2733 34 95 


$350,000 negotiable. 718967*2349. 


REAL ESTATE 
TO RE2NT/SHARE 


FRENCH PROVINCES 



1 1 . : in ;>'j ? a~. f y i f. 

Iebcb 


AUTOS TAX FREE 


GOMAN CABS 
FROM GERMANY 

Experienced or trader far Mereedu, 
Pondte or BMW. Uradde dehwy. 
Ful service import/exporT U.5. DOTS 
ffA far.iourid ord dealer, OCM. Taer- 
deaeratr. 8, 4 Dumscldori W. Gem» 
ny . Tet (0) 211434644 Max 8587374. 


REGENCY 




NEW YORK OFFICE 

Trt 212-R3B-6027 
* 212-733-1864 


* USA A TRANSWORLD 

A-AMERICAN 


EVERYWfiRE YOU ARE OS GOL. 

1-813-921-7946 

CaK free from US: 1-800-237-0692 
Cal free boa Benda 1300-252-0092. 
Lawsl Eastern welco m at you bead 


CAPRICE 

ESCORT S9VKE 

IN NEW YORK 

TH: 212-737 3291. 


LONDON 

BEST ESCORT SBtVICE 
TEL 200 8585 


ARISTOCATS 

Loadee Escort Sendee 

128 Vrigmore a, London W.l. 
AB major Credr Cords Accepted 
leb 437 47 41 / 47& 

12 noon - mkfagbt 


AMSTERDAM 

Oats Escort Stmiet 

429117 or 246145 


★ MADRID * 


TEL: 411 72S7-2S9 61 96 


ZURICH 


Tek 01/252 61 74 


Mrie A F e m rt e. Tefe 022/36 25 21 


ZURICH 


TR: 01/363 OB 64 


KITTY 


Tek 2503496. CREDIT CARDS. 


ESCORTS & GUIDES I ESCORTS & GUIDES 


LONDON LUCY ESCORT & Code 
Seroce. TeL OT-373 0211 


wve rtauntiwueeni 1 LONDON: JIB1AN 6 ALAN McAcEt 
ESCORT SBVia 020-999244 corf ServxM. Tet 3» 5301V34I «31 


IRANKIWr AREA -Femaie + Mole 
esaxt + hovel service. Tet. 62 B* 32. 


MLMCH HO0TS Esaxr + Guide 
Serves. Tali 069/4486038 


DUSSHDORF-COLOGtffi-Eaeo3onn 
Enofish bam Service 021 1 / 38 31 41 


AMSTHIDAM BARBARA 

ESCORT SERVICE. 020-954344 


MILAN ESCORT 




Tefc 36 29 32 


ESCORT SBWKE 3S5 3573. 


LONDON ZARA ESCORT Service. 
Herthrow/Grtwcfc. Tet B34 7945. 


D.C: Sandy Escort 
1255. 




G8CVA * BEAUTY* 


TBi 29 51 30 


SBTVKE Tel: 46 11 51 


OMVA-BE5T 


IB; 022/16 15 95 




MADRID INTI 


ffit 2456548. CBHXT CUDS 


[OPDON TBJDB ESCORT Smiee. 
Tet 01-373 8849. 




LONDON AM ESCORT Service. 
Tefc 370 7151. 


STUTTGART PRIVATE Escort Service. 
Tek 0711 / 262 11 SOl 


HtANKFUBT ■+■ SURROUNDINGS 

ChriUma's Escort Service. 069/364656 


PRANKRJRT - YVONNE’S ESCORT 
and Travel Service. Tefc 069/44 77 75 


LONDON ZOE WEST Escort Agency 
Tot 01-579 7556. 


VfiMA - DEURS ESCORT Semes. 
Tet 52-30-355. 


AMSTERDAM FOUR ROSES Escort 
Service KJ) 20-964376 


AMSTBDAM JEAFffiT Escort Service 
Tefc ROD] 326420 or 3401ia 


RRUSSB5. CHANTAL ESCORT Ser- 
vice; Tet 02/520 23 65. 


HAMBURG ESCORT + GUDE Ser- 
vice. Tet 54 17 n. 


UMX1N JAPANE5E ESCORT Ser. 
vice. Tet 01 821 0627. 


VIENNA'S FIRST ESCORT terwies, Tet 
022444191 or 722-432. Nl nedngfa. 


DOMINA, AMSTERDAM ESCORT 
Gwde Service. Tel: (020) 762842 


FRANKRJRT “TOP TENT Escort Ser- 
vice. 069/39-6052. 


*WPWURT - W ESCORT Serwt. 
Tet 72 41 1Q7. From 6 pm 


V»MAJTOItE ESCORT SERVICL i MADRD5BECIK1NS ESCORT Ser- 


Tet 56 78 55, 


vice Teb 4011507. Crotfil Cords. 



































































































































Page 18 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, APRIL 19j 19SS 



PEANUTS 


HERE, MANA6ER-I 
„ FOUNP THE BALL! 


great! what About 
our shortstop? 


HE'5 STia OUT THKE, 
BUT HE WOI^T BE 
HARD TO FNP... 1 





books 


THE KINDNESS OF STRANGERS: 
The Life of Tennessee Williams 

jjy Donald Spoto. 409pp. SI 9.95. 

Little, Brown, 34 Beacon Street, 

Boston, Mass. 02106. 


-circle of attractive young ^ 

dance now more than ■ 

doil" Whether Rader wsb 


TENNESSEE: Cry of the Heart 


BLOND IE 


VDU HWE M/0OOK ON 
•—r ECOJOMCS, JOHN ! 


A NO l WANT 

it back;/ 


SINCE WHEN PIP VPU ir" 

start sett-in® excited) 


OVB3 VOUP 
ECONOMVCS 
-r BOOK ? I 


By Dotson Rader. 348 pp. SI 6.95. 
Doubleday, 245 Park Avenue, 

New York, N. Y. 10167. 

Reviewed by Jonathan Yardlcy 


ACROSS 


1 Widow's 


6 Sees red 

11 Shoo! 

12 Neckwear 


14 "Rear 
Window” 
director 

17 Dingles 

18 Mme. Bovary 

19 Unrelenting 

28 "Buenos ” 

21 Gambol 

22 Modem "art” 

23 Boston’s time, 
at times 

24 Islam’s sacred 
book 

25 Goblin 

27 Profundity 

29 Northern 

30 The force is 
with it 

32 Propellers on 
ships 

35 Water 

39 Other name 

40 of vantage 

41 Tavern 

42 Mil. unit 

43 Parsonage 

44 Reminder 


45 Galatea's 
beloved 

47“ a Sing 

Go . . .” 

48 Centennial 
electee 

49 Movie of 1947 
(see 14 Across 

52 Cancels 

53 Bond 

54 Lancaster 
group 

55 Elevate 


14 To boot 

15 Ardent 

16 Truckle 
21 Campus 

figures 

24 Experiences 

25 Islands, 

south of Tokyo 

26 Neighbor of 
Wash. 

28 Supplication 

29 Pianist/ 
comedian 

31 Verse stanza 

32 Camp David 




BEETLE BAILEY 


©IVE THEM A LITTLE 
PEP TALK BEFORE . 
WEGO^-Tn / 


1 Lessen money 
in circulation 

2 Scarebabes 

3 Tribulations 

4 Windup 

5 Tell in detail 

6 British army 
orderlies 

7 Award never 
won by 14 
Across 

8 German 
pronoun 

9 Places 

10 Warehouse 
charge 

11 M. Pascal 

13 Smelterslag 


expression 

34 Area from 
Cannes to La 
Spezia 

36 Latent 

37 Least exciting 

38 Like some 
leaves 

40 Convertible 
carriage 

43 Bogs 

44 Nutmeg spices 
46 Meat., Guat., 

Are., etc. 

48 Prefix with 
sphere 

50“. . » and not 

do" 

51 Modernist 



c 4T 1 HE remarkable aspect of Tennessee Wil- 
1 Hams, 1 * Donald Spoio quotes, the play- 
wright Robert Anderson as observing, “is how 
he transmuted his anguished life into great 
plays. Wasn’t it Faulkner who said that a 
writer needs experience, observation and 
imagination? Williams had them in abun- 
dance, and these qualities enabled him to ntin 
his private pains into public art.” That there 
were private pains in abundance, many of 
them self-inflicted, is perhaps the principal 
theme of these two books; certainly it is m 
many respects a painful business to read them, 
filled as they are with accounts of Williams's 
wildly self -destructive abuse of drugs and alco- 

activiiyfland his descent over the last two 


activity, and Us dent over the last two «b«Ma ana 
decades of his life into hypochondria, paranoia also one 

rSfSanicL energy and reahence, of passK^le ooa&D&< 


ANDY CAPP 




O IMS DaBy ttm KnwpM, Lie. I 

DM by Non Arawtca Syndicate 


and panic. 

The pain is everywhere in both books, but 
that is about all they have in common. Spoto's 
is a straightforward, chronokraicaJ biography. 
It was not authorized by the williams estate, 
which presumably explains its relative lack of 
direct quotation from Williams's correspon- 
dence and worts; but Spoto had access to 
many people who knew williams wdl, and 
from tneir testimony as wdl as the public 
record he has manag ed to paint a persuasive 


mem to his art. - 

trace back to his famous dfidhdod; to his 
strong hot slightly loony tnwfaar, to h is distant , 
unsympathetic father, to bis abrupt removal 
from happiness in Mississippi to misery iBjfiV 
j/mk, above all to his bowed-sister, Rose, 
whose frontal lobotomy was die central event 
in bis emotional mid artistic life. Much has 
been made of these people and events by psy- 


( WE’RE EVEN ) , 

> NOW.ONE-C-^ 1 
/ BAD TACKLE 
/ DESERVES / Jt 
. V. ANOTHER ry. t=a 

^ L ^ ■ J \ 


} ANDONEGCOD_ACrOF 
y ttrA LiATtON < 
V DESERVES ANOTHER f 


record he has managed to pamt a persuasive ocen maw m m wv«» ^ 
and satisfying portrait/ Dotson Rader, by con- cfaologsts both profcsaonal a nd am ateur, but 
trast, has' written a vulgar book that seems to the person wbo mate t he most from them was 
exist primarily to provehis intimacy with Wfl- Wffliams himsdt who tramrf^dthemm to 

I- ‘ j a nsnvc in mrmKrno riramflR nhoOl tlimibi D3UL mfrlial m Si aMl ty. 


.voutaE 
, RIGHT,. 
. RAL...1 


© New York Tones, exited by Eugene Mahaska. 


WIZARD of ID 


DENNIS THE MENACE 


wmrpocvots 
-that Mer! , 


'NWVOWb 









tiOfZOH 

YCfcA 

UNPFiLU 


Hgmc and to drop famous names in numb ing 
profusion; it is, to borrow Rader's description 
of a pornographic film he once saw. “an alto- 
gether wretched piece of work, smarmy and 
pretentious at the same time.” 

Rader is a homosexual who came into Wil- 
liams’s life around 1970 and, by his own testi- 
mony, hung around a good deal until Wil- 
liams’s death in 1983. His testimony is 
gratuitously explicit cm a number of mailers, 
but coyly vague when it crams to has exact 
relationship with W illiams — who, Spots 
writes, was surrounded in his last years by a 


dramas about “family pain* mental instability, 
emotional obsessions, the conflict between the 
love of solitude and the desae for human 
comfort-” , 

These plays were written after a long, uncer- 

MmwitfmrTim iKai n ileraststnip 



-.^VlWCaa 



Solution to Previous Puzzle 


REX MORGAN 


w 



GBDE3 aanasi aao 
Beans nanco ass 

BDQIIEJHBEIIJESH 3GQ 
BCHDaaa □□□□□□□ 
□nanaa □□□□ 
□bqh anBaBn 
DEtanaa qqssseisei 
□dq aaaaaQa nan 
□EQQOQCJEJ □□□□□□ 
SEaaaa acaon 
DEQO □□□□an 
□□□Enaa ananana 
deq □□□□□□□aasa 
sen □□□□□ □□□□a 
bee □□□□□ □□aaa 


wanting, acceptance of fc homosexuality — 
this latter taking place during the 30s and ’40s, 
when h om ose xu ality was stfll gcneraDv taboo. 
Success did not come to him until 1945, when 
he was 34, with the opening of “The GMv 
Menagerie,” and it was actually many years 
later before great celebrity and riches were his. 
He therefore had a decade and a half, from 
“The Glass Menagerie” until “TheNight of the 
Iguana.” in which he could work at his art 
without the crippling distractions that come 
with fame in the United Stales, and the results 
were breathtaking: “A Streetcar Named De- 
sire,” “Summer and Smoke," “Cal on a Hot 
Tin Roof,” “Suddenly Last Summer.” 

If compassion is one primary characteristic 
of Wfflianrfs plays, then surely courage is 
another — just as it is, however peculiarly, in 
his life. For all the sordid d»aqs rates life and 
for an the shocking nature of his work. lie had a 


.4/19/86 


Out of pain and fortitude, he built himself a 
large and endming monument. 

Johnathan YanSey is .an the staff of 
Washington Post. ■ 


BRIDGE 


By Alan Truscott 


*.. M TURTLES BONY MOO, OR BARK, OR CACKLB 
m HARDLY &\T AfWMm/* 


GARFIELD 


O N the diagramed deal 
South read the distribu- 


THAT SCRAMBLED WORD QAME 
Q by Henrt Amotd and Bob Lm 


UnscmriMe ttwas four Jumbles, 
one letter to each square^ to form 
four onSnary words. 


DONUP 


UNEES 



POWY LOCK ME OPi. 
V TLL BE eoop/ 
Ml I SWEAR! r> 


■awi wwre 



South read the distribu- 
tion accurately to gain a gam© 
swing for his team. The two- 
diamond bid shown was an 
“unbid minor checkback,” and 
his partner then offered a 
choice of game contracts. 
Oubs were led against three 
no- trump, and the ace was held 
up until the third round. 

South drove out the heart 
ace and won East's diamond 
return with the king in order to 
preserve the entry to the dum- 
my. An end play against West’ 


was possible, on. the assump- 
tion that the player held the 
diamond queen. But South 
choose a different fade. . 


NORTH 
* AK853 
OJ85 
«*»■ 

*74 


East had thrown a diamond 4 ^ ESr i 
on the third round of dubs and v » 3 2 j 
later threw another diamond iS™?*** 
on the fourth nound ofbearts. 2 

It seemed very likely that he « 

was dinging to four spades, so jj 

the diamond ace was cashed. 4 

This reduced the North and 
East hands to four spades, and 
the ^>ade ace was cashed, and . ‘. M 

the spade ace was cashed, pub 1 * 
Thai a low spade was played Jg J® 
to eud-play East and bring ha vm 
borne the game. wen m uh 


EAST (D) 
*Q J76 
■7 A7S 
V 8 75 4 
*93 


*1042 
5? KQI4 

O KJB 
*A US 


Both tide* wen vulnerable. The 
bidding: 

EM South Vac North 
Pass 1 * Pass 

Pan 1 W.T Pass *» 

Paa 2* Pass iW.T. 


Wen led the dob king. 


DOUSIT 


Wbrid Stock Markets 


SWILEY 


WHAT THE YO-YO 
BUSINESS HA^. 


Via Agence France- Presse April 18 

Closing prices in local currencies unless otherwise indicated 


Now arrange the dieted letters 10 
form the surprise answer, as sug- 
gested by the above cartoon. 


Aiswerbere: fTS f X X 'j & 


ABN 

ACF Holding 


Yesterday’s 


(Answers tomorrow) 

Jumbles: DANDY TWILL SOCIAL DEVOUR 

Answer Wbal a gambling addict usually Is— 

AT ODDS WITH THE WORLD 


AKZ0 

Ahow 

AMEV 

A-Dorn Ruatw 
Amrp Ben* 
BV6 

Bu*fK moral T 


Color*) Hid? 

Ebjvter-MOU 

Fokker 

Gist Brncodes 

Hdntkfn 

Hoooovens 

KLM 

Nwrdtn 

Not Nadcf*r 

Nodilovd 

Occ vender G 
Pofchoed 
Philips 
R otocco 

Rodwnco 

RoIInca 


WEATHER 


HIGH LOW 



e 

F 

c 

F 








Alpwe 

23 

73 

14 

57 

fr 

BWuwluUi 






Amstenftom 

15 

S9 

5 

41 

tr 

Beiihw 

20 

88 

12 

54 

Ir 

AttMOS 





d 


24 

75 

20 

88 


Barceta-mi 

20 

68 

9 

48 

tr 

Manila 

34 

93 

24 

75 


SaSsnsS© 

12 

54 

9 

48 

d 

New Delhi 

38 100 

73 

73 

tr 

Benin 

17 

83 

4 

39 

fr 

Seoul 

16 

81 

6 

43 


nruueto 

17 

63 

6 

43 

fr 

Sbaoatml 

21 

70 

11 

52 


Bvannd 

14 

57 

11 

52 

d 

Siaaauore 










Kutfanesl 

13 

55 

8 

48 

d 

TnHxri 

27 

81 

21 

70 

tr 

Ci^enhaywi 

14 

57 

4 

3V 

Ir 

Tokyo 

12 

54 

8 

48 

fr 


29 

84 

8 


fr 

AFRICA 






Dublin 

13 

55 

5 

41 

d 






Edinburgh 

Ftorance 

Frankfurt 

13 

16 

17 

54 

61 

63 

3 

11 

2 

37 

52 

36 

d 

d 

tr 

Aiders 

Cairo 

31 

29 

70 

84 

7 

17 

45 

63 

fr 

Ir 

HklltalKI 

Istanbul 

Las Pal mas 
Lisbon 

Lawton 

8 

12 

23 

24 
18 

46 

54 

73 

75 

6* 

0 

9 

17 

13 

7 

32 

48 

83 

55 

45 

Cl 

0 

tr 

fr 

tr 

CaioMoaco 

Harare 

Lagos 

MalraM 

Tunis 

27 

23 

23 

14 

>1 

73 

73 

57 

15 

16 

15 

8 

59 

81 

59 

48 

fr 

fr 

na 

d 

sfi 

Madrid 

25 

77 

5 

41 

tr 

LATIN AMERICA 











■■ 










Bueno* Aires 


73 

15 

59 

fr 








23 

73 

17 

63 








MmdaoClty 

24 

73 

8 

46 

d 

Oslo 





d 

Rto do Janeiro 

29 

84 

74 

75 

ir 

Parte 

19 

86 

9 

48 

tr 


— 

— 

— 

— ■ 

na 

Praam 

Rcrkiavik 

14 

6 

57 

83 

0 

7 

32 

36 

■fr 

r 

NORTH AMERICA 



Rome 

Stockholm 

21 

9 

X 

48 

11 

1 

52 

34 

fr 

cl 

Aochornwt 

6 

<3 

•2 

28 

fr 













Venice 












Vienna 


5* 

8 


0 









W 

0 

37 








Zurich 


U 



It 

HMalola 

28 

82 

21 

78 


MIDDLE EAST 




Houston 

28 

■2 

17 

63 

PC 



n 




lm Anodes 

31 

70 

13 

55 

DC 


Cl«e Prev. 

Ken^adt 317 3M 

Koufhof 228 228 

Kloackner H-D 2S& 25150 

Kloecfcner Werke Tl 7120 

Kruno Stahl 108 IBB 

Linde 43AS0 426 

Lufthansa 191 191 

MAN 153 151 

Mormesmam i£5_30 n&su 

MetallBesellSCtWri 24X50 265 

Muench-Rueck 1240 1240 

Preussag 272 275 

Ruetgers-Werke 349 347 

gWE. 157 15950 

ScherblB 466 473 

Siemens 547.40 545JO 

Ttnrssen iro ioi Jo 

Vorto 1S3 1S4 

yjba 185 18550 

VEW 129 JO 12X20 


I FI 

(ltd oe menu 

Italinoblllari 

Mediebanca 

Monterflsan 

Olivetti 

Ptretll 

HAS 

Rinasceate 

SIP 

Sola 

Stondo 

Sfel 



Skaraka 

91.5 

90 

Mitsubishi Elec 

393 





2S3 

Swedish Match 

226 

226 


517 

Volvo 

2S5 

250 


340 

AffoBrsvaerMen index : 39850 

MUsokoahl 

459 

previous : jtsjo 



NEC 

HMD 


Canadian, stocks via AP 


High Low Close Owe 




BAT. 
B eech om 
BICC 
BL 

Blue Circle 
BOCGraua 
Boots . 


544 541 

333 343 

343 370 

2S1 256 

39 39 

503 503 

27B 277 

179 179 


M1B Current Index : 1195 
Previous :IU1 


Baris 


VolluMagenwerk 20220 20340 


Commerzbank index : 122550 
Previous : 122MS 


Royal Dutch 
Unilever 
van Ommeren 
vmf stark 

VNU 


AWP.CB5 General index : 207 JO 
Previous : 20L60 


Arbed 

Be k aert 

Cocker/ll 

Cobeoa 

EBES 

GB-lnno-BM 

GBL 

Guvaert 

Habafcen 



7 330 7 3 4 0 

iS-BO ism 

14S0 15-20 
10 9J5 

44J5 44JSD 
70S 7.-50 1 
34 34 I 

5JB5 5J0 
9J5 9 JO 

72 72 

6.10 6.15 

2X50 2X50 
11 JO 11J0 
12JBJ 1140 
6M1 UO 
rt.m 3_4Q 
IOJO 1050 
6J0 4.25 

1.95 1.90 

2X70 24.10 
7.25 7 JO 

Soso. — 
455 4J5 

2 2.10 


Bowater Indus 253 2S2 

BP 550 S46 

Brit Home St 5W 289 

Bril Telecom 140 141 

Brit Aerospace 420 423 

BTR 682 684 

Burmati 230 234 

Cable Wireless 525 528 

Cadbury Schw 154 149 

Charter Cons 191 193 

Coats Pat DUS 150 147 

Commercial U 224 227 

Cons Gala 572 569 

Courtovtas 142 M5 

Dalaety 476 475 

De Beers l 5« 545 

Distillers 279 277 

Drlelonteln S2FW $29ft 

Ftsons 313 310 

Free St Gcd S3BVi am 

GEC 194 194 

GKN 240 237 

Glaxo C 12 S/33 123/22 

Grand Mel 298 295 


Guinness 

GU5 

HaiMon 

Hawker 

1CI 

Imps 

Jaguar 


245 244 
015 BIS 
714 215 
453 453 
782 782 
188 187 
292 297 


Kredlet&onk 
Petrofina 
Soc General* 
Safina 
Solway 

Traction Elec 

UCB 

Unero 

Vlellle Mantegna 


Curra nt Slock Index : 222048 
Prartaas : 222A51 


FiremUBTf 


Ankara 
Beirut 
Damascus 
Jerusalem 
Tel Aviv 


30 86 19 46 it MhuMtauDflm 

33 VI 10 SO fr Montreal 

27 81 15 59 tr Nassau 

27 81 14 57 tr New York 


OCEANIA 


Seattta 

21 70 19 66 sh Tbrooto 


20 68 11 52 fr VftHhbWtM 


Mtood 28 82 19 66 PC 

MtiuMOBOfls 25 77 10 SO OC 

Montrool 3 37 .7 19 fr 

Masioa 27 81 16 61 pc 

Mew York 21 70 7 45 fr 

San Francisco 19 46 U> SO tr 

Seattle 13 55 4 39 r 

Toronto 5 41 >3 27 d 

Wash btvten 2* 77 13 55 fr 


AEG-TelefuAkin 
Aillenz Vers 


el -cloudy: ta-toaov; fr-talr: h-haif: o-overcost; DC-oarflv cfoudv; r-roln: 

. sh-shoners; neiraw; gt- stor my. 

FRIDAYS FORECAST — CHANNEL: SUBht. FRANKFURT: Fair. Term. 
17 - 6 (63 - 431. LONDON: Ooudv. Toma. 17-8 (63—46}, MADRID: Fair. 


Temp. 25 — 4 ( 77 — 431. NEW YORK: Partly cloudy. Tempt 24 — 13 (79—55). 
PARIS: Fair. Temp. 18—9 (64 — 48). ROMS: CkxxtV. Temp. 24 — It (75—522. 
TEL AVIV: Fair. Temp. 33—13 (91 — 56). ZURICH: Fair. Tern a. 15 — 1 


Baverjtypo. 

Bayar.verBaiik 

BMW 

Cammenhonk 

ConUautnml 

Dalmler-Bens 

n ure retn 

Deutsche Babcock 
Deutsche Bank 
Dresdner Bank 
DUS-SCtiuU 
ghh 


TEL AVIV: Folr. Temp. 33-13 (91-55). ZURICH 

(59 -■ J M'giWlittgrBfifTiim^jl^hriiiTf 'ftte-iYfn’ 

TetnsEX*,;'^.'. ' - . - t'\.. *:-s • ;• -- 


IQ KONG: Ooudv. 
1751. SEOUL: Rain. 
12 — 26(90 — 79J. 






Hoescn 
Hamnurm 
Horten 
Kail <4- salt 


11X8011110 
1110 1112 
2IKA0 205.10 
214A0 21X80 
34850 352 
340 344 
3X6 374 

17030 17230 
137 J0 137 JO 
662 661 
362 7 f ? 90 
14X50 146 

449 JO 473 
203 206 
21922U0 
1030 155 

475 475 

215 2I4J0 
11B11L70 
419 412 

in iro 

246J0 247 


AECI 

A item American 

Ansla Am Gold 

Barlows 

BhmDor 

Buffels 

D# Beers 

Drtetamein 

Elands 

GFSA 


Harmony 
Htvetd steta 
l KkMt 
NedMnfc 
Pres Stem 
Rusatat 
SA Brews 
St Helena 
Sasol 

West Hold) no 


825 825 

2700 2735 1 
17650 I79S0 
1IIS 1145 
«« 1»0 
8900 8800 
10S 1038 
5508 5450 
1770 I7M 
3350 IU0 
3075 X2S 
m 400 
8380 8250 
1170 1195 
6300 6300 
1765 .1750 
740 7« 

3330 3575 
612 612 
6800 6800 


Uovds Bank 547 539 

Lmrho 181 182 

Lucas 269 26* 

/Marks and 50 147 146 

Midland Bank 357 352 

Nat west Bank 602 sw 

Panda 360 350 

PttkinotDn 285 NA 

Plessey 20* MB 

Racal Elect 210 N-A- 

Ro ndto nt eln silBVi NA 

RonV 362 363 , 

Reed Inti 552 552 

Reuters 382 ■ 366 

Royal Dutch C 46 5/64 46U. 

RTZ 629 641 

Saotchl 805 HA 

ScdnsOurv 330 NA 

Shell 730 724 

STC 206 NA 

sra Chartered *72 <49 

Tate and Lvle 448 4*8 

Tesea 253 NA 

Thorn EMI 447 4fl 

TJ. g ro up 234 • 236 

Tratatoar Hse 340 NA 

THF Ml 140 

Ultramar 245 248 

Unilever E 1113/321119/64 
united Biscuits 190 HA 

Vickers 264 2*7 

w.Deea U72h S48I6. 

WXeidlnas J3S4i 536. 

War Lean 3V, i 36V, OiV, 

Wool worth 853 853 


Air Uaulde 
Aisthom All. 
Av Dassault 
Banco! rr 
BIC 

BaneraM 

Bouvaues 

BSN-GD 

Carrs four 

Chareeurs 

Club Med 

Darty 

Du met 

EU-Aauttaine 

Euraael 

Gen Eaux 

Hactiette 

LaloroeCep 

Lvarand 

Lesleur 

IXhwai 

Marten 

Metro 

Merlin 

Mlcbelln 

Most Hennessv 

Moui/nsx 

Ocddantale 

Pernod Rlc. 

Pstroles (fsel 

Peuaeot 

Prlntwnps 

Rudloleitui 

Redouts 

Roussel Udat 

Sanofi 

sus Rosslenal 
Sour.Perrter 
Tetemecsn 
Thomson CSF 


ACI 
AN I 
ANZ 
BHP 
Bora) 

Bougainville 

Brambles 

Coles 

Cotnolco 

CRA 

C5R 

Dunlop 

Elders Ixl 

Hooker 

Mansi km 

MIM 

Myer 

Oaktirldgo 

Paka 

Poseidon 

RGC 

Santos 

5leta» 

Southland 

Woodslde 

WormaW 


NGK I mutators 

NikkoSec 

Ntaoan Steel 

Nippon Yusen 

Nissan 

Nomura Sec 

Olympus 

Pioneer 

Ricoh 

Sharp 

Sony 

Sumitomo Bank 
Sumitomo Chem 
Sumitomo Metal 
TaiselCorp 
Talsho Marine 
TakedaChem 
T<fl 5. 

TeHIn 


671 701 

146 M8 
231 234 

640 454 

986 M20 
MW) 1060 
249* 2430 
860 865 1 

970 973. 

4190 4180 
1630 1690 
222 223 

145 148 

210 219 

4W 419 
050 880 

5320 5290 

432 C8 


Tohva Eleo Power 14« 1700 

Tokyo Marine 785 MO 

Torav Ind 455 465 

Toshiba - 387 391 

Toyota 1M0 1210 

Yamatchl Sec 735 757 


Nlkket/DJL Index : 1 2181 .8 8 , 
Previous : 123CL06 


553 SZVj 53 — Vi 

51416 16 16 — 

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• 51716 1716 1766 52222 f 

*2246 221k 224k- 4k -££2 


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All Ordinaries lad 
Previous : 85X38 
Source: Reuters. 


1 ram 

Akal 

ta 

450 

1 

433 

Asahl Chem 

823 

860 



863 

Bank of Tokyo 

770 

791 


Canon 
C. 1 tab 

Dol Nippon Print 
Dahsa House 
Full Bank 
Full Photo 
Fujitsu 


Aoefl index -. 2HJ8 


Boost rod 

CoMStoraee 

DBS 

FraserNeave 

Haw Par 

Inchcap* 

Keenel 5hip 

Mai Bank Ino - 

OCBC 

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349 359 

990 ran 
533 533 

1410 14M 

1690 1660 
1070 1080 
793 790 

1270 KM 
5500 5790 
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1400 1408 
1*4 144 

585 592 

437 441 

336 337 

1440 1400 
676 70S 

1470 1470 
456 468 


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Credit Suisse 
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Jacob Suchard 
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Rolls-Royce Posts Profit 


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LONDON — RoQs-Royce LuL, the stare- 
owned aircraft engine manufacturer, said. 
Thursday that pretax profit rose to £26 million 
{S3 3. 02 mHliofi} in 1984 from a loss of £114 
million in 1983. Ii attributed the improved per- 
formance to a recent efficiency drive. 

“This substantial improvement .stems from 
increased efficiency alall levels within the com- 
pany,” said the chairman. Sir Francis Tombs. 
“Increased productivity, improved- methods 
and development of coraptner-aided ' design 
have all made notable contributions.” 


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230 230 230 

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5154k 1546 15* 

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5259k 251k 25W. 
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28 28 78 _ 

121 118 118 ~i7 

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155 145 155 

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So it is to Spoto whom we must 

Iiam?s life and work. About raatho- 
hare much to report thaiwe do^t M. 
know, but he has assembkd a 
maieriai into a coherent whole, 

{jams led a bewilderragjy 

because people moved m 

equally bewildering numbers, s P^ sc ™jg«| 

de occasionally dcs< f nds f l £f a , ^^PS^KE 

ing recital of amyals 

say about his subject ^ - 

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Rader on wittingly does, by gmply reatoig ftCv 
lurid details of HU private l^onysuD^g®^ 
Hfe was an orgy of drink, drugs 

mere description of which si^^sts 

of tabloid sensationalism. VieweG jmta ^^ 

orgiasL he seems tawdry and 

But Spoto quite ratisfactorily 

tha t he was neither. Not merefy .^^ ffleag artist;:: . 

of r ea l accomptishment and. tsspoclaB^ '^o 

was also a being of iiwcsswwmwi 

and decency — raw who oooB r hfe'.diHK® : i 
absorbed and ternperataeotaL to 



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• • . . ■' i- 













ESTERNATIONAL HERALD TRIBUNE, FRIDAY, APRIL 19, 1985 


Page 19 




SPORTS 




yo u ^ ta^*Pan 

Pasaonaie S 0 

,ns ' 5 »= aad w '^bU*'^ 
« a«ich to r^- Abo^^ 

Wtt3W5*S 

occasioqallv dew QUm W>L tf & 

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Spoto quite S'? a&»‘ 


a «S^I 

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d <^cv ~ 0 ^ n l* 

sorbed aid •■ - * ho ^ S5! '- 





«ns. above ai] ;o 

Wibc,ici mv JJJJ li^West lilted him up by the neck and shored 

1 ■ cAtil Wrt V«MF Anlii *fv AKf Cm hlamAiai 


«* oact: to his faZ. ,UDS «dhu 
■on 8 b D tslighUvlS: JUic toi£ 

us btlQM ^ 

his 

<n made of these ^S®* «t 
«»ogisis bod! *£km± 

e person who 

dbams himself. 

«nas about -fainiivSi^r. 

notional obsessioni 
ve r Of solitude 
imfon." QUle dfarc[. 



VANTAGE POINT/ George Vecsey 

Scandal and College Sports: The Real Corrupters 


New York Ttm& Sena* tale loans and 

NEW YORK — In the midst of a point- rooms and cat haphazardly in order to Se edu- 
shaving scandal at Tulanc and drag con trover- cated. The athlete knows only that he makes a 
sies at Gerasim and Arizona State and recruit- ton of money for the college; he wants his shin 
lag scandals all over the coumiy.it is welcome «w. 

news that college presidents are trying to regain Three yean ago.Digger Phelps, the basket- 
control of sports from their s ’ ' * ' 


tors. 


involved in investigating the athletic program. 
He resigned last month. 

"The public perception Of wrongdoing will 
make it difficult to explain why anyone would 
choose to corns to Gemson University." Dean 
Robert A. Wa&r of Clemson’s College of Liber- 
al Arts, was quoted as saying in The New York 


rora their athletic administra- ball coach at Notre Dame, contended that many 

schools were paying $10,000 or more a year to Times on March 10. 

But there is one major weakness in the move star athletes. Phelps's position was assailed by One member of the Big East Conference, 
by the college presidents: They can only be as some fellow coaches, but Dr. John W. Ryan, Boston College, bad a former player, Rick 
committed as the people who hired them. president of Indiana University and chairman Kuhn, imprisoned for point-shaving the season 
“We have to reassert that our primary values of the National Collegiate Athletic Association before the conference began in 3979-80. Boston 
are academics and that academic integrity is Presidents Commission, said on April 3: "I am College has also faced the public criticism of its 
vital to university life," said Eamon M. Kelly, sure that you would get no argument from academic standards by a former co-captain, 
the president of Tulanc University, who wants presidents ‘that it docs not go on. We must Martin Clark, along with revelations that anoth- 
to cancel the basketball program after the in- stamp it out. Auditing is intended to do that.*' er former Boston College player. Jay Murphy, 
dicuncQl of three players in the paint-shaving At a special meeting of the NCAA on June had remained eligible while attending night 

— j -*« — ! # - -« -• -- - — 20-21 in New Orleans, Ryan and bis colleagues school. 

will propose that athletic budgets be controlled The strength of the Big East this year, with 
by college presidents rather than by athletic three semiflnalisis in the Final Four, should be 
directors. Presidents are chief executive officers, cause for concern as well as pride. The champi- 
ex peeled to keep their schools solvent, but their on Vilhnova players in particular wiwd verbal 

field teams that are the subject of illegal, mil 

lion-dollar bookmaking activity? How did line is the won*kjsi record of their football and other superpowers in the competition for superi~ 

basketball teams. 

Another pan of the curse is that spans are the 
major reason many trustees, alumni and boost- 
ers are involved in the schools in the first place. 

All major spons colleges have boosters who 


violations, 
guilty to 
commit spons 


scandal and allegations of reennii: 

One of the players has already pi 
a charge that he conspired to 

bribery. 

How did educational institutions come to expected to keep their schools solvent, bat their on Vilhnova players in particular wnwd i 

ul- curse is that the most tangible public bottom and intelligent, but if the Big East is beating 
,!J •=—-■«- . . _r other superpowers in the competition ' 

or players, what price is being paid? 

Two months ago, it was teamed that Chris 
Washburn, the freshman convicted of taking a 
five-piece stereo set from a dormitory neighbor, 
had been admitted to North Carolina State with 


S’ 1 ? 


The Cubs’ third base coach, Don Zamner, at odds with 
umpire Joe West in the seventh inning of the Cabs-Phiffies 
game. Zimmer, who was ejected from the game, later said 

aside. West 

said he was only' trying to get in position to call a play. 


These plays w CTe 


Expos Nab Smith at Plate 
To Defeat Cardinals , 2-1 


L'niai Press httmatunai 

ST. LOUIS — Rookie Joe Hes- 


singled tome Mariano Duncan 
iT f-i’l "V" . L.UVU3 — ivwuc JUC iter from second base with two out in 

tailure acd a difficult, if keth retired 17 consecutive batters the bottom of the Ilth to lift die 
,,f tts taWT at one point and the Montreal Ex- Dodgers past Houston, 1-0. Ord 

Biauer.akL'ia pU K durinsih.-C- pos tagged Lonnie Smith at the Hershiser (1-0) pitched three in- 

ttOTfiomosesLuhn wasaSp-L" plate to r the final out in a 2-1 tangs of hittess relief for the -vk- 

»ccess did not cometobin^r victory Wednesday over the SL lory, 

“ was -**• wtii the open mn j..“ Louis Cardinals. 


stimulants and relaxants? How did colleges 
come to accept academically unqualified ath- 
letes and pay them with shoe boxes full of 
money? 

Don't blame the college presidents. Some of 
than enjoy the fanfare from a winning sports 
program mure than they should; some of them 
look the other way when disreputable coaches 
build empires right on campus; some of them 
don't want to know what their deans of admis- 
sion are doing. 

Most college presidents are hired for their 
fund-raising and social and academic abilities, 
not because of any great expertise in criminal 
investigation or sports administration. Most 
presidents can’t afford to know that powerful 
boosters give money and cars and no-snow jobs 
directly to blue-chip athletes. 

The highly recruited athlete, perhaps from a 
poor background, wants to live at least as well as 
the wealthier students on campus; he does not 
want to recognize that many college students 


have made their bundle selling insurance or cars a 470 Scholastic Aptitude Test score, only 70 
or doing root therapy and now wont to help the points above the minimum and nearly 600 
school of their choice. One popular way is to points below die average at North Carolina 
wrap some $100 trills in a shoe box and have 
them delivered to a dunker or a wide receiver. 

"The slush fund money is not going to show from the state charged journalistic grudges arid 
up in the athletic budget or audit," Ryan said prejudice by the prosecutors and imerschool 
recently. rivalries in the state. One man wrote on his 

College presidents who get too involved in corporate letterhead that an athlete's low SAT 
supervising the athletic programs don' - — J: ,:r - ' — J — *— •— 



When questions were raised, several people 


The Bullets' Jeff Ruland is boxed in by 76ers: Julius 
Erring (6), Charles Barkley (34) and Moses Malone. 


voivca in corporate iciicrneaa mat an auucie 5 jow t -w*w || y-v 

l last very score should not disqualify him from developing Kll 1 1 £kfc I ni*Tl f iDATliPl* 
vhich has the one aptitude he has — putting the ball UU11CW JL 111 U V/ UCllCl 
ecause of through the hoop. __ 

Over to 76ers, 104-97 


through the hoop. 

When people have such a distorted vision of 
lucation, it is no winder boosters are 


long at some schools. At Gemson. which 
run into trouble with the NCAA because 
recruiting abuses, a runner, Augustinius Jas- 
pers, died last year. Traces of a muscle relaxant 

were later found in his body, although the drug willing to slip unmarked bills to athletes, and 
was not ruled to be the cause of his death. trustees overtook the fact that gamblers are 
The president of Clemson, Bill Atchley, ap- betting on the activities of students — turning 
parent! y offended some trustees by getting too them into greyhounds in caps and gowns 


Canada Defeats East, West Germany in Hockey 


opening oK, 


icn^gene. ’ and it actoih. f Smith led off the ninth with a 
ter before great celebntv am single off reliever Jeff Reardon, 

rheGlass. Menagerie- ubui ^ BASEBALL ROUNDUP 

Juana, in wmefa he could int ; , _ ... . .. 

llhoui the cripplin' ^ sto!c second. Two outs later, 

ith fame in the tinned ** v “ Slyke grounded to first 

ere brea»hukin« ■ “ A base™ 11 * Shines, who hooted 

re." “Summer and the ba “- & * in S l hc ^ 

' KM 

; », 23SS ;£ Sm,th 

fftfc J ? ^ “He [Stmty was going all the 

t SOrdld St. Louis manager Whiiey 
* aL . lbe & “ oc ^ n 5 n-ttureafhisva: Herzog said. “A bad throw and we 

; the game.'’ 

A good throw ended it. 

After allowing an RBI single to 
Jack Clark in the first inning , 

southpaw Hesketh mowed down 17 

Johnjshsn )art!fi- is n wr,;- hatters before issuing a one-out 




pain and fortitude he be- 
age and endurina tnooumea. 


Brewers 2, Tigers 0 
In the Americas League, in De- 
troit. Jim Gamner cracked a single 
and. 

Teat the' 

0. 

season after six victories. Danny 
Darwin gained a victory in his first 
dodsiem this year by allowing only 
a single to Lou Whitaker m the 
third and a single to Lance Parrish 
m the fourth. He retired the last 13 
batters he faced, walked one and 
struck out two. 

Rue Jays 3, Rangers 1 
In Toronto, Jesse Baifidd, who 
struck out in the dutch in the 
eighth, bdted a three- run homer 


Compiled by Our Suff From Dlt/Mches 

PRAGUE — Tony Tanti scored 
two goals, while Don Maloney, 
Rick Vaive and Steve Yzerman 
contributed one each as Team Can- 
ada defeated West Germany 3-0 
Thursday to retain a perfect 2-0 
record at the World Hockey Cham- 
pionships. 

In Wednesday’s game, Team 
Canada overwhelmed East Germa- 
ny, 9-1, while the Soviet team clob- 
bered the United Suites, 1 M. 

In other contests Wednesday, 
Sweden barely squeaked by West 
Germany, 3-2, ana Czechoslovakia 
Shut out Finland 54). 

Maloney's goal in Thursday's 
game against west Germany came 
after only 31 seconds. Dave Taylor 


ashin&cn Fes-. 


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walk to Gaik in the seventh. 

Hesketh (1-0) struck cm five and 
walked three in his first start of the 
season. Reardon picked up his fust 
save by pitching two innings. John 
Tudor (0-1) tot* the loss. 

CubsS, Phflfies4 
In Chicago, Keith Moreland 
atoned for three errors with four 
RBL including a three-run double 
that capped a Four-run seventh in- 
ning, to cany the Cubs to their fifth 
straight victory, a 5-4 triumph over 
Philadelphia. 

Reds 6, Braves 1 
In Atlanta, Nick Esasky went 
three for four, drove in two runs 
and scored twice to lead Cincinnati 
to a 6-1 defeat of the Braves and a 
„ sweep of their three-game series. 
»**Rookie Tom Browning (1-0) al- 
* Itowcd six hits for the victory. The 
Reds' Pete Rose had a single to 
move within 83 hits of Ty Cobb's 
all-time record of 4.191. 

Mas 10, Pirates 6 
In Pittsburgh, Rafael Santana hit 
a two-run homer and scored three 
.. runs to spark New York’s 10-6 tri- 
gV iimph over the Pirates. It was the 
jgjj Mets* seventh victor?- in eight 
■ ' games. Kdvin Chapman and Keith 
Hernandez drove in two runs each 
and Darryl Strawberry added a 
home run. 

Dodgers I, Astras 0 
In Los Angeles. Mike Marshall 


with none out in the 10th to lead , - , , _ . , 

the Blue Jays past Texas. 3-1. The 

homer made a winner of BUI Cau- KutohackLskatedtoward thecor- 
dfll (3-1) who Bad given up the go- 


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ahead run in the top of tto inning 
Orioles 6, Indians 3 
In Gcvdand, enors by reliever 
Jose Roman (0-1) and third base- 
man Brook Jacoby helped Balti- 
more score three unearned runs in 
the eighth for a 6-3 victory over the 
Indians. Baltimore produced the 
three runs on a bascs-ioaded error 
by Jacoby, a fielder’s choice 
grounder by Cal Ripken and an 
infield single. 

A's 8, Mariners 4 
In Oakland, California, Mike 
Davis hit a home run and Alfredo 
Griffin collected three hits and an 
RBI to he)p the A’s defeat Seattle, 
8-4, and complete a three-game se- 
ries sweep. The loss was Seattle’s 
third straight since winning its first 
six games. 

Royals 6, Red Sox 1 
In Kansas Gty, Missouri, Char- 
lie Lei brand! threw a four-hitler 
arid Buddy Biancalana hit a three- 
run homer in the second to carry 
the Royals to a 6-1 victory over 
Boston. 

Angels 4, Twins 3 
In Minneapolis, Gary Palis sin- 
gled in two runs to help California 
defeat the Twins, 4-3, their sixth 
consecutive loss. Jim Slaton (1-0) 
scattered seven hits over six in- 
nings, striking out four and walk- 
ing none. Donnie Moore pitched 
three innings for his first save. 


to the front of the crease where 
Maloney outmuseted a German de- 
fender to direct the puck past goal- 
ie Karl Friesen. 

Tanti scored his first goal at 
2:39, moving out from behind the 
net unmolested and lifting a shot 
between Friesen’s legs. 

The West Germans didn't get 
their first shot on goal until the 
four-minute mark. Crisp goal tend- 
ing from Steve Weeks helped blank 
the Germans. 

Tanti scored again at 11:18 of 
the opening period, finding himself 
all alone in front of Friesen and 
converting a passoul from the cor- 
ner by Bernie Nichols. 

Vaive got the only goal of the 
second period at 11:06. Kirk Mull- 
er won a face-off in the German 
zone, swept the puck across to 



Script y 


LmieS Press Intenumonol 

PHILADELPHIA— The Phila- 
delphia 76ers stole the opening 
game of the National Basketball 
Association playoff series from the 
Washington Bullets, forcing six 

NBA PL4Y0FFS 

turnovers in the final four minutes 
to post a 104-97 victory. 

Game 2 of the best-of-five series 
is scheduled for Sunday in Phila- 
delphia. Wednesday's victory over 
the Bullets, before a season-low 
crowd of 7,170 at the Spectrum, 
was the first playoff game the 
Sixers had won since the 1983 
championship series. 

After Gus Williams's free throw 
gave the Bullets their final lead at 
93-92 with 4:21 left, the 76ers’ de- 
fense went to work. Led by Moses 
Malone and Maurice Cheeks, Phil- 
adelphia allowed just two free 
throws and one basket while soot- 
ing 12 paints the rest of the way. 

Cheeks's jumper with 3:30 re- 
maining gave the Sixers the lead to 
stay at 94-93 and Malone’s steal led 
to Julius Living's jumper 28 sec- 
onds later. After Cheeks forced 
Williams into a double-dribble, 
Malone, who finished with 26 
points, hit a foul shot to make it 97- 
93. 


Malone then baited a loose ball 
to Andrew Toney, who went in for 
a lay-up at the 2": i 1 mark for a 99- 
93 lead. .After Washington's Jeff 
Ruland sank two free throws. 
Toney hit three free throws to seal 
the victory. 

“We didn’t execute very well and 
we turned it over." Sixers Coach 
Billy Cunningham said. “But we 
hung in there and forced some 
turnovers in the fourth quarter. I'm 
just really happy about that. This 
was a big one for us. to gel one up 
on them." 

“Our defense made quite a dif- 
ference," Erring added. “We’re not 
playing great basketball right now 
but mentally 1 think we did fine." 

The Sixers had 1 5 steals — six by 
Malone and five by Cheeks. Erving 
scored 24 points and Cheeks and 
Charles Barkley 17 each. 

Cliff Robinson scored 24 points 
to pace the Bullets while Jeff Ru- 
land, who is coming back from a 
shoulder injury, collected 20 
points, 10 rebounds, seven assists 
and four steak 

On Thursday night in other first- 
round matchups, it was Cleveland 
at Boston, Phoenix at the Los An- 
geles Lakers, New Jersey at De- 
troit. San Antonio at Denver and 
Portland at Dallas. Utah is at 
Houston and Milwaukee hosts Chi- 
cago on Friday night. 




UJS. forward Corey IVQIen tries to get past die Soviet goalie, Vladimir Myshkin. 


Vaive and the Toronto Maple Leaf pair, while Frauds had one goal, 
captain blasted a shot past Friesen. Anderson also set up defenseman 
Yzerman completed the scoring 
at 12:45 of the third period when he 
tapped in a goalmouth pass from 
Tanti. 


In Wednesday's game, Canaria 
d one line flying all night 


had 

Francis of the 


as Ron 
Whalers 


Doug Lidster for the opening goal 
at 14:17 of the first period. 

Harald Kuhnke was credited 
with East Germany’s only goal, but 
actually defenseman Steve Kou- 
royd knocked the puck into his own 
net while he was standing in the 


and his two Toronto Maple Leaf crease to head off an atiac 
wingers, Vaive and John Anderson, The Americans were victims of a 

combined for five of the nine goals, blowout on Wednesday. 

Anderson and Vaive each netted a “It was like swimming up the 


river,” said Coach Dave Peterson 
after the game. 

The Sonet players threw four 
lines of dazzling skaters and sharp- 
shooters at VS. goalies John Van- 
biesbrouck and Chris Terreri. 

For the Russians, right winger 
Sergei Makarov scored four goals. 

The round-robin preliminary 
round of eight concludes April 27, 
with the top four advancing to 
medal play. (AP, LfPl) 


Hearns Broke 2 Fingers in Hagler Fight 


The Associated Press 

DETROIT — Thomas Heams’s 
right band will be in a cast for three 
to six weeks after he broke two 
fingers during his middleweight 
championship boxing loss to Mar- 
vin Hagler, but his doctor says it 
should heal completely. 

Hearns's manager, Emanuel 
Steward, said on Wednesday that 
he would defend his World Boxing 
Council super welterweight title in 
N m ember against John Mugabl 


Hearns broke the fourth and 
fifth metacarpals — the bones 
nearest the wnst — of his ring and 
small fingers during Monday 
night's bout with Hagler in Las 
Vegas, according to Dr. Fred 
Lcwerenz. The injury “should heal 
well and give him’ no trouble," 
Lewerenz said. 

Hearns, who boxed Monday as a 
middleweight, was stopped in the 
third round by Hagler. the WBC 
middleweight champion. 


SCOREBOARD 


Basketball 


Football 


Hockey 


NBA Playoffs 


United States Football League Leaders 


WVDNBSOAVS RKBULT 

31 Z7 9 21— ft 
M 37 II 2*— 1M 
Mo ton* M4 10-12 34. Ervtnu VM» 2-2 24 1 
JtaMmon HMt 4-4 34, Ruknd *4 M 2ft It* 
Monde Washington 43 (Ruhmd 1»; Philo- 
«Mo 40 (Bark tov 12). AsUsti; vwshlnafon 
25 (OJMUtonto I) t PMIadatohia 22 (ChMlu (>. 


Transition 


fPlayers Suspend Talks, 
Seek Owners’ Records 


BASEBALL 

JIlDRf fcOB LuflDt 

SEATTLE— Ptoctd MHc* Morgan, pltctwr. 
OAHtolMavdlaabM W. RacalM Karl Boat, 
oBcMr, (ram Caigorv of Hi* Pacific Coast 


: *?: j 

1 ’#■; . i.^FSSd- 



A MacPbaO associate who re- 
quested anonymity said the owners 
have no option tot to supply the 
records because Commissioner Pe- 
ter Ueberroth said in February that 
he might order it as a means of 
live bargaining agreement and «fc- proving to tto pU^m that the ra- 
ided a full financial disclosure dustry is 


By Ross Ncwhan 

Las Angeles Tana Service- 

MINNEAPOLIS — The Major 
jg>i League Players Association has 
f&i suspended negotiations with the 
baseball owners over a new collec- 

? i live bargaining agreement and de- - , .. 

manded a full financial disclosure dusoy is ra poor fi nanc ia l condi- 
gn from the 26 clubs. -, . 

* i The owners will apparently ac- Don Feto, the muon s executive 
t r cede, though it is not certain that director, said that the negotiations 
all 28 items requested by the union nver a col,ecfivc bareamme 


TE X A S W ood Luis PutoU. cotdwr, on 
IM 15-floy maobicd Hat. Purctaaad H» coo- 
trocf of Gtonn BnmiRMr.cntchar, from OMo- 
honm ah' o I th* Amriflan Auodatton. 


- 0 in a New York negotiating session 
mi » rjjoj, ji $4 1 Wednesday will be provided. 
gLti? SS^Tr-'s*”- $■: “We welcome the request for ad- 
fcl - •« 1 '% ! ' aP i-.ditional information and view it as 

® ! - J indication that they are giving 

Ixs u *.^r p * serious consideration to problems 

, 'M & jin I we have discussed with iheoi," Lee 
riir MacPhail. the owners* represema- 
» ; sir- f live and former American League 


i4 - aj 


4l»*- 




We aren’t convinced that they 
have a proWcm drat needs fixing, 

but they have been pleading with us 
to look at their financial records for 
four or five weeks," Fehr said. 
“Since they’re not willing to bar- 
sperific issues, were forced 

^ ---- - die books 

•S tion aTproniptiy as possible so that and see where that takes us.’ * 
we can direct our attention to the The major stumbling block in 


.ATLANTA— Traded Atox TravlML cofchor. 
to Son FrondKv for John Rota, outflohtor. 
Soni Rota lo Richmond of Hio IntornotlonaJ 
Uwouo. 

LOS ANOELES— Plaeod Stovo Sen. t*cond 
boaoman. on Km 15-dov npotomantnl dts- 
BBtad AN, tttKflvi Friday. April I*. 

plTTSBUROH— Oallanod RataM Milord, 
(fiftoWtor. to Hawaii of too PacUlc Coos) 
Looou*. PuKhowd Jury DytazIrufcL InfMd- 
or, from HawolL 

„ ST. LOUIS ■ P iocad THa Landrum, outftofd- 

over a new collective bargaining or/onttwjvdavaiiaWMiho.coitodwvirK* 
agreement hnrf gone nowhere, leav- ‘n'ijncniHunI*” Lauitvfll * 01 ’*’* 

ing the players “frustrated and re- san FRANCisco-s»t Dow Gwudr. 
seneful that they have to be pul cofcmr. m pkomu of to* Poemc com 
through tbiy agon." Loow*. 


FOOTBALL 


jir- j uve ana ronner Amaicu ucaguc 

• presidem, said. ^incctheyren 

, ^ + ?» v< ^ -We are anxious to cocperate gam on ro«fic tss 
is — ; sec * nf jhem by riving them inform a- to say, O.K_ let s 1 

■ 1 .. ,n<li.i . onrf CAP wIvta (Kill 


£ * - 

«»-• r “ 
XI 

6 Jr— .;® 
(*!. 

2C"I .. 

» 

n r. a ■ 





dw union: audited fiMncifll state- 
f>aents on every club; a history of TV contract signed by baseball last 
She ownerships; concession and year and a one-third cut of the 

, ■ Tir — J — j:, CO «iii M tv iVol 


BRITISH COLUMBIA— SIQMd John 
Ulmtr, Hflofeodwr. 

NOBMWf FtOtoOH LPOOM 

CLEVELAND— Announcsd flto r*Hrom*nl 
of Dow DtotoM oHonahw tocklo. 

DETROIT— Amouncod tha r tHr monl of 
Owlar Buonry, nmnlng tack. 

SAN FRANCISCO— Stotod Kirfffi Btaw. 
wMo roalvor. 

UbIM Stotot roottaM Looom 

AftIZONAr— WoJvod Tony Lola, oftonstoo 
tot* •*, and Dalton Road, dofratvo aaeJc 
Sloood Ron WotnL tfoM and. to a ono-yoar 
con f rocf . 

MEMPHIS — Slsnod Lab Stanto, MfSiWvt 
tochb. 

colleob 

ARMY— Homed Rob RUtr dsaodato hock- 

■y COOCfL 

MEW ORLEANS— Aimoonoid Iho roitono- 
non of Ron AMMStrLtautall eoadLoHodtv* 


EASTERN CONFERENCE 


Sw Her. JACK 

24 1094 423 4 9 57 


Team Ofteme 


Milter, MEMP 

33 943 41.9 4 7 53 


Yores 

Rush 

Pass 

Andnwvsnvn. TB 

24 999 4U 1 1 59 

Tampa Bay 

3247 

*08 

2279 

LondHa, BALT 

30 1224 40.9 10 5 40 

New Jersey 

2072 

1478 

1194 

Partrtdoe. NJ 

29 1148 403 3 7 41 

Battimare 

2734 

948 

1786 

Frail flfltomna 

Wrmtooham 

2638 

116Q 

1478 

NO 

YDS AVG FC LG TO 

MemeM* 

2540 

1237 

1383 

McFodden, BIRM 

13 143 125 • 37 0 

Jacksonville 


997 

1523 

JocKion, ORL 

16 111 11J 2 71 0 

Orlando 

1925 

1010 

915 

Lane, SALT 

23 242 MLS 3 20 0 


Team Defense 


Williams. MEMP 

16 138 tU 0 47 0 

Birmingham 

2217 

077 

1330 

Daniel NJ 

13 71 U 3 IS 0 

Baltimore 

7333 

eas 

1427 

Kickoff Returners 

Tampa Bov 

2494 

90* 

1585 


NO YDS AVG LG TD 

Memphis 

2511 

990 

1521 

Parrish, ORL 

35 653 24.1 95 3 

New Jersey 

2729 

942 

1767 

Homs, BALT 

10 219 215 48 0 

Orlando 

2940 

1473 

1447 

Peoues, NJ 

13 344 205 38 0 

Jacksonville 

2957 

1200 

1737 

Kwno. JACK 

12 243 203 20 0 


Qeartereadu 

1 


FutroH, TB 

10 199 19.9 20 0 


ATT COM 

YDS TD INT 

Camith. BIRM 

W 199 19.9 26 0 

Lewis. M BMP 

153 

83 IJI9 

15 4 

Butts. JACK 

16 301 1U 33 0 

Fustna, BALT 

230 141 1755 

6 6 

Williams, TB 

13 243 187 30 0 

Reaves, TB 

266 151 2115 

13 9 



Stoudt, BIRM 

193 107 1488 

12 10 





9 ID 



Luther. JACK 

144 

92 1054 

5 13 

Team Otfeese 


101 

49 483 

3 5 


Yor ds Rush Pass 


W S 



Houston 

3U9 334 2853 


ATT YDS AVG LG TD 

Denver 

2867 1081 1714 

Walker, nj 

157 

142 54 88 9 

Oak land 

2752 999 1753 


U* 


Portland 

3421 1120 1361 

Rosier. JACK 

135 


Arizona 

2234 Ml 1383 

Crlbbi, BIRM 

134 

501 4J0 15 5 

Los Angelas 

2147 092 1255 

Bledsoe, ORL 

127 

491 19 20 2 

San Antonia 

1747 730 1017 

Coritwn, NJ 

93 

434 A7 55 3 

Team Defease 

Lewis. MEMP 

49 

405 83 43 3 

San Antonio 

2292 1013 1279 

Harvtn, BALT 

100 

403 4J) 47 3 

Arizona 

2419 1032 1387 


Receivers 



Denver 

3441 90S 1536 


NO YDS 

AVG LG TD 


2537 861 1664 

Fltzkee, BALT 

42 

507 111 37 0 


2584 1041 1545 

Ateels, JACK 

39 

480 m 51 2. 

Los Anaeies 

2592 883 17W 

Smith, BIRM 

32 

543 17A 54 6 


2945 1104 1842 

Brodskv, TB 

31 

444 ISA 43 2 

Quortertacks 

Truvlllloo, TB 

29 

<52 li* 44 S 

ATT COM YDS TO INT 

Andfrfon, TB 

29 

240 941 20 3 

Kelly, HOU 

340 207 2890 24 12 

Crawford. MEMP to 

479 17.1 35 6 

Hofien. OAK 

22S 111 1018 17 10 

Collier, BALT 

S 

371 13J 36 2 

Williams, ARIZ . 

219 121 1446 9 7 


Punters 



Y&uno, LA 

117 61 888 3 5 


NO YDS AVG TB 120 LG 

Evans. DEN 

272 134 1777 t 13 

Caler, ORL 

42 1812 411 4 12 44 

NeuhelsaL SA 

147 74 904 5 9 





Robinson. PORT 

117 41 742 4 11 

1 ' 



1 




TaUoy, OAK 
deBnriln, ARIZ 
Fartrkto*. LA 
Ganoff. PORT 
Winner*. HOU 
SoMbnon, OEM 


Manm DEN 
McNolL HOU 
Gunn, LA 
Harris. ARIZ 


NO YDS AVG TB 120 LG 
3A TSM 415 J IS 74 
SI 1273 41.1 3 12 72 
40 1424 40A 1 IS 93 
2B 1124 40.1 3 5 54 
32 mi 394 4 5 54 
37 1014 37A 0 3 SI 
Pont Ro to li ra * 

NO YDS AVG FC LG TD 
10 333 1X2 2 J8 0 
IS 200 11.1 2 79 1 
10 110 31JJ 4 45 1 
25 234 9.4 3 23 0 


Hall. PORT 
Borawr, SA 
Faulkner, OAK 


8* 14 3 32 
77 SA 2 37 
58 7J 3 1? 


Harris, ariz 
F aulkner. OAK 
Rlt&X PORT 
VorcUn. HOU 
WHilama. SA 
Jackson. PORT 
BorMMf, SA 
Tumor, DEN 


Kickoff Returners 

NO YD5 AVG LG TD 
14 3«a 5L3 74 0 


310 25J 57 
291 34J 41 
3M 2JJ M 
181 220 24 
244 222 44 
145 204 37 
400 200 » 


Baseball 


Wednesday's Major League line Scores 


ss!p^“ m parking agreements; TV and radio extra S9 mfilion in TV money that 

contracts; club licensing agree- baseball will receive for expanding M ^ 

25SL & molts, and minor league franchise the playoffs from five to seven. 

S agreements. games. 


WORLD CUP QUALIFYING 
C retan Group l 
Albania vs. Graoco. DasfpoflwL 
Sur eyaan Oroao 5 
Hwnsary 3, Austria 0 
Pohda StaMUm: Hongary 10: Nothor- 
landv Austria i: Cvann 0. 

■uroMflfl Group S 
Switzerland X Soviet Union 2 
Points Stand Inn: Switzerland 5; Denmark 
4; Norway 3; Sevier Union, inland a 


agreements. 


Of ItaMfMOfL 


ENGLISH FIRST DIVISION 
Newcastle United 0, Coventry City 1 
Tottenham Hotiaur Q. Arsenal 1 


Johnson. DEN 
Bendev, OAK 
Brown, ARIZ 
Jordan, PORT 
Williams. OAK 
GroVi LA 
Beverir, PORT 
Lana. ARIZ 


Verdin. HOU 
Johnson. HOU 
Lewis, DEN 
Harris. DEN 
Corter, OAK 
MCNNL HOU 
Banks, OAK 


Rushers 

ATT YDS AVG LG TD 
85 *13 7J32 A 

83 437 3X57 1 

84 tfS IS 44 6 
iO 402 L7 23 3 
72 284 19 17 2 
U 273 4D2S 1 
St 2» AilS J 

81 233 IS 17 4 
Receivers 

NO YDS AVG LG TD 
54 «Q I2A 74 4 
42 SU 113 52 4 
33 S3 M.1 28 3 
37 36) «» 2 
3 650 203 50 7 
]0 . ili 205 61 4 
30 515 17a 43 4 


AMERICAN LEAGUE 
Baltimore CMS 110 B3»— t T2 2 

Cleveland 388 881 606— 3 8 3 

McGregor, Stewart (7J and Dempsey; 
Senube, Jetfcoat 15), Roman 15), Van Oh ton 
IS) ana Bando, Benlon (■). w— Stewart. 1-0. 
L— Roman. 6-1. HR— Cleveland, joctay tl). 

twos oee aoe oh i — ■ 1 t t 

Taroaro eee <ms eet 3-3 4 • 

(10 Innlmn) 

HouatoSlewcnn (*) andSlouotn; Key, Acker 
f7). caudin |0) and Whin, Martinez IS). W- 

Caudlll. 3-1. I Stewart. 6-L HP— Toronto. 

Barfield (2). 

Milwaukee B06 016 S16—2 4 1 

Detroll 668 068 866-4 2 I 

DarwtnandSchreeder: Morrband Porrlsn. 
W — Darwin. 7-a L— Morris, 2-1. 

Seattle 02S 206 606—4 S 1 

Oakland 063 221 m— I » I 

Yoons, Best (4), Nunez (7) and Kearney; 
Sutton. Conroy (81 and Heath. W— Sutton, 3-d- 
L— Youno, W. HRs— Seattle, Presley (6). 
Oakland, Davis (4). 

Cofltornia 030 0)6 000-4 0 0 

Minnesota WO 001 OOO—J ( 0 

Slaton. Moara (7) ana Boone; Butcner and 
Salas, w— Staton, 1-C l— B utcner, 0-1. Sv— 
Moore (ll. HR-Mfcwaoto. Smalley It). 
Boston 006 666 061—1 « 2 

Kansas City 030 826 OH— 4 18 8 

N toner. Clear (6), CMeao (81 ana Gedman; 
Lefcrtmdl and Sundberg. W- Leibnjfldl. 1-0. 
L— Nlpoer, 6-L HR— Kansas City, BSancatano 
(l). 

NATIONAL LEAGUE 

PMlaaetPhia M0 610 381-4 6 6 

OlICBtta 16B 060 40X— J 7 3 

Rawlev.lCGron (7), Hudson (SlandVIrott; 
Sanderson, P rosier ((), smith (8) and Davts. 
W— Frazier. 1-0. L— ICGroCb 0-2 Sv— Smith 
(3). HR— Philadelphia. VirgD (ti. 

Cincinnati 086 283 OH— 6 T2 6 

Attanta 080 108 003— 1 6 1 

Brownina and Von Gorderj Bedrosion, 
Smini (6), MCMurtry (9) and Cerent W— 
Browmno,l-o.L—Bedre*iaaO-l.HR-CJneln- 
notl. Davis <31. 

Now York Ml 331 186-18 13 1 

Fttts&arah 023 122 oa— 1 8 1 

Berwnyi. suk (5), Orosco (9) and Carter: 
MCWUUatno. Guards (4), Seurrv tol. Tekutve 


171. Robinson 18) and Pena. W— SHk. 1-0. L— 
McWilliams. 0-1. HRs— New York, Strawber- 
ry 12). Santana II). 

Montreal 100 Ml 060-2 7 I 

StLooU 100 DM 600-1 4 0 

Heskem. Reardon IB) and Fltzocraia; To- 
dor. Horton (9) and Nlela. W— Heskem. l-O. 
L— Tudor. 0-1. S«— Reardon II). 

Houston 0M COO 000 00—0 3 0 

Lai A ape las DM 006 DM 01—1 ( • 

til Innings) 

M-Scotr. Calhoun (9), D^mith (9). DlPlno 
flDond Ashbv; Honeycutt. Hershiser (9) mi 
Sc lose to. w— Hershiser. 1-0. L— DIPina 0-1. 


Major League Standings 

AMERICAN LEAGUE 
East Division 



W 

L 

Pci. 

GB 

Detroit 

6 

1 

J57 

— 

Baltimore 

5 

2 

.714 

1 

Milwaukee 

5 

2 

J714 

1 

Boston 

4 

4 

-500 

2Vs 

Toronto 

4 

4 

JU 

21* 

New York 

3 

3 

.500 

2 to 

Cleveland 

1 

6 

.143 

5 


West Division 



Seattle 

4 

3 

M7 

— 

Oakland 

S 

4 

£5* 

1 

California 

4 

4 

JOB 

IVj 

Chicago 

3 

3 

JOO 

Ws 

Kansas City 

3 

4 

.429 

2 

Minnesota 

2 

6 

.250 

3Vs 

TeMS 

1 

6 

,143 

4 


NATIONAL LEAGUE 
East Dlvtstcn 

W L Pel. GB 

Chicago 7 1 175 — 

NOW York 7 1 X75 — 

Montreal J 4 A& 3ta 

Pittsburgh 3 5 475 4 

SL LOUIS } J Xi Ift 

Philadelphia 1 7 ,125 6 

West Division 

San Diego 4 3 .571 — 

Las Anodes 5 4 454 — 

Atlanta 4 480 W 

Cincinnati 4 i JSC ft 

Houston 4 5 y<4 1 

Son Francisco 3 4 427 1 


World Hockey 
Championships 

Results and schedule tor the World Hockey 
CliamplaBiliiDs: 

April 17 

Soviet union It. united Stain 1 
Canada 7. East German, 1 
Sweden 1 Wesl Gormonv 2 
ErecfKKiovaMJ 5. Finland D 

April 18 

Canada 5. Wmi German , C 
Finland vs. Soviet Union 
Swsacn vs. United Stoles 
Eml Germany vs. Chechoslovakia 

April 20 

Sweden vs. Finland 
west Germany vs. Czechoslovakia 
East Germany vs. Savin] union 
Canada vs. United Slates 

April 21 

EaM Germany vs. Sweden 
Canada vs. Finland 
Wesr Germany vs Soviet union 
United Slates vs Czechoslovakia 

April 23 

East Germany vs. F.nicna 
Canada vs Ci echos tovoi. la 
Soviet Union vs Sweden 
Untied Stoles vs. West Gerrrrc.iy 

April 24 

United Stoles vs East Germany 
Finland vs West Germany 

April 25 

Sweden vs Czechoslovakia 
Canada vs Soviet union 

April 24 

west Germany vs East Germany 
United States vs Finland 

April 37 

Soviet Union vs. Czechoslovakia 
Canada vs Sweden 

NHL Playoff Leaders 

V 

National Hockey League playoff leaders 
through April 16; 

SCORING 

G 


Unseman. Boston 
P. Stoitnv. Qoenec 
Perreault. Buffalo 
Goulet. Quebec. 
Bassv. NY Istondcrs 
Gartner. Washington 
Savors, Chicago 
Larmer, Chi capo 
A/tdrevehuk. Buffalo 
Laeb, Calgary 
Smith. Montreal 
Wilson. Chicago 
Ruff, But tala 
Seuve. Ouebee 


p Pirn 
10 
ID 
8 


TB - 

St i 
gi-» 




mo!* 


lirf**- 





Page 20 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, APRIL 19, 1985 


OBSERVER 


people 




A Smoking Aftermath The 'High-Tack Teacup’ in Chicago Arts Medal IMpiem, 

“ J .?y. Kevi "“^ -mat - v ~' • • - * ' ■ ■ ' ••• n- : “Mis him a” by'PaiS Setae 


By Russell Baker 

N EW YORK — I’ve felt rotten 
ever since I stopped smoking 
last spring. Of course, I felt rotten 
before I stopped smoking too, but 
that was a different kind of rotten 
from the kind l now feeL 
The old rotten feeling resulted 
from waking every morning with 
the taste of smoldering inner tubes 
in the mouth and worrying every 
evening that I might run out of air 
before reaching the top of the 
stairs, where there was a chair into 
which I could collapse long enough 
to regain the strength necessary to 
help me smoke some more ciga- 
rettes. 

I wanted to feel terrific again, 
and somehow I had got the idea 
that the way to feel terrific again 
was to stop smoking 
□ 

1 am not Talking now about the 
three months of fidgets caused by 
combat with the nicotine addiction. 
You expea that. 

What 1 did not expect was an 
eternal cold, sometimes in the 
head, sometimes gravitating south 
and settling in the chest, sometimes 
becoming so bored with itself that 
it adopted new personalities, ap- 
pearing now as the Philippine flu, 
now as the whooping-cough equiv- 
alent, now as Grandmother's 
Homemade Croup, now as the 
swine ague. 

The antismoke people never tell 
you about having to live with a cold 
for the rest of your life, but I don't 
hold that against them. You can get 
used to having a cold all your lue, 
just as you once got used io having 
a fire always burning under your 
nostrils. 


The h uman body seems eager to 
grab whatever makes it feel rotten, 
even while whining about how bad- 
ly it is being treated. The truth, ! 
suspect, is that the human body is 
not intended to feel terrific after it 
has passed the age of IS and will 
instinctively grasp at afflictions 
that promise to make it feel rotten. 

What else can explain its loath- 
some craving for cigarettes, gin and 
controlled substances? In my case; 
I believe the body was so unhappy 
about losing its old cigarette miser- 
ies that it latched on to the first 
fresh misery it could find — which 
happened to be a cold it meL in the 
subway — and locked it up in the 
corporeal closet so it could never 
escape. 


I remember barbershops before 
they became hair-styling bou- 
tiques, and they were full of true- 
life detective magazines In which 
jealous males held the women they 
loved in the same household cap- 
tivity in which my body had impris- 
oned this miserable cold. 

When you spend every day of the 
year coping with a cold, you are apt 
not to notice right away that your 
belt is becoming too small for your 
waistline. I didn't notice this until 
my trousers started shrinking . 

After a few months they had 
shrunk so badly that 1 dreaded hav- 
ing to get out of bed. There was talk 
in the family of bringing in a psy- 
chiatrist, until 1 explained that if 1 
got out of bed I'd have to put on 
pants, and that all my pants had 
shrunk so that they gave me a terri- 
ble pain in the waist 

Well, of course, it wasn’t the 
pants’ fault. It was stopping smok- 
ing that had caused the pain. Ap- 
parently people who stop smoking 
slowly bloat up like balloons. I am 
told this is caused by increased eat- 
ing, but I don’t believe it. My case 
surely is caused by the recent ac- 
quisition of the 10 pounds of cold 
germs my body took aboard after 
its cigarettes were cut off. 

□ 

It makes yon feel rotten to have 
your bell constantly strugg lin g to 
garrote your stomach. The inevita- 
ble cure: exercise. Thus I found 
myself in the kitchen, mounted on 
a -bicycle without wheels, pedaling 
on an idiot’s journey to nowhere. 
Afterward, I would roll on the floor 
and perform calisthenics that had 
defeated me even when I was only 
17 and feeling terrific. 

The results were to be expected. 
One: a muscle seizure in the right 
leg that has left me with a pro- 
nounced limp and probably marks 
me as easy game for muggers. Two: 
a terrifying numbness throughout 
the entire upper-right quadrant of 
the torso, causal either by exerdse- 
induced crushing of millio ns of 
nerves in the spinal cord or an 
incredibly powerful shot of novo- 
caine. 

This would probably be alarm- 
ing if the eternal cold and the pain 
caused by shrunken trousers hadn’t 
made me philosophical. Once I 
paid $2 a day for cigarettes. By 
cutting them out, I have learned 
how to feel just as rotten as ever, 
but at a saving of 32 a day. 


By Kevin Klose 

Washington Post Service 

C hicago — officially, u is 

called the State of Illinois 
Center, a glutinous moniker con- 
juring op musty cubicles of clerks 
in green eyeshades, harried tax- 
payers with threadbare pocket- 
books and endless lines for auto- 
mobile licenses — the kind of 
facility that is universally famil- 
iar; something along the daring 
lines of, say, the FBI budding in 
Washington. 

In fact, the State of Illinois 
Center is one of the wildest, crazi- 
est new buildings this side of Kat- 
mandu. It banishes forever the 
notion of state government as' a 
staid, penny-pinching old maid. 

Architecture critics are likely 
to have plenty to say, pro and 
con, when the buil ding is formal- 
ly presented to a breathless popu- 
lace in May. 

Whatever the verdict, the State 
of Illinois Center is the best ex- 
ample of bigh-tack design ever 
produced. 

This edifice for the conduct of 
the people’s business looks from 
the front like an inverted. 17-sto- 
ry teacup made in alternating ver- 
tical stripes of clear and mirrored 
glass, topped with a rakish glass 
cap. It is surrounded by Tree- 
standing pink and gray granite 
slabs. 

Viewed from the back, the 
“teacup" has been chopped off 
flush with the edges of the block 
where the center sits at Randolph 
and Clark streets on the north 
end of the Loop. The square 
sides, devoid of features except 
for the stripes, seem to belong to 
a different building. 

Inside, the reason for this 
shape becomes — well, less in- 
comprehensible. Under the 
south-facing teacup is a stupen- 
dous atrium, held up by a breath- - 
fairing latticework of red steel 
trusses. It arches the full height of 
the center, higher even than the 
last 17 minds state budget defi- 
cits. Curving balconies open onto 
the atrium at each floor. 

There are visual echoes here of 
an opera house — or a prison. 
Glass elevators in two tiers whiz 
up and down at dizzying speed. 

The floor is made from concen- 
tric gray marble slabs divided by 
black marble swaths inlaid with 
white dots that accentuate the 
carved interior. On the lower lev- 




ban Drytftn/bss Angela Timm 

The controversial State of Illinois Center in Chicago. 


eL where state buildings some- 
times have basement vaults to 
store tax money, there is a sunken 
circular floor in black and white 
marble. From the balcony out- 
side the governor’s office on the 
1 6th door, the sunken circle looks 
like nothing so much as a giant 
bull's-eye. 

But Governor James R. 
Thompson, the Republican who 
chose the design from three of- 
fered by the avant-garde Chicago 
architect Helmut Jahn, loves the 
adventnre-as-building. 

“You have moved into what is 
perhaps the most innovative and 
exciting public building in the 
United States," he writes in a 
welcome letter to state workers 
who are arriving from a dingy, 
60-year-old rabbit warren across 
the street. 

Thompson happily moved in 
last November. His suite indudes 
a snail office, a kitchenette, a 
bathroom, a sitting room and a 
private elevator that carries him 
morn the office to his private 
parking space in the garage deep 
beneath the bull's-eye. 


Cost overruns have driven the 

J uice for the 1.2 miHion-square- 
oot building to $172 milli on. 
Thompson calls it a bargain. But 
there are rumbles abouL a legisla- 
tive probe. In traditional Chicago 
style; this may get rolling in time 
for the 1987 election, when 
Thompson is expected seek a 
fourth consecutive tom. 

City fire officials have raised 
serious questions about the budd- 
ings fire safety, but state workers 
continue to occupy it and the for- 
mal dedication is scheduled for 
next month. 

For startled bureaucrats gin- 
gerly moving their out-baskets 
into position throughout the up- 
per Doors, it has Iran something 
less than love at first sighL 
Each floor is laid out in a ring 
of offices that opens onto the atri- 
um balconies. The proximity of 
what one employee calls “the 
void" beyond the balcony has 
proved unnerving to many. 

This may change when the 
building is fully occupied; the 
first three floors are to contain 


shops and restaurants, and the 
bustle of mall-like activity below 
is expected to calm the state 
workers high above. 

The budding's odd shape has 
affected the maze of offices with- 
in each ring: Some are square, 
some rectangular, some are in 
combinations of square and 
curved. Some have narrow, pie- 
shaped comers, some have walls 
in no particular shape. Depend- 
ing upon how good one's sense of 
direction is, all this can be exhila- 
rating or merely confuting. 

Such complaints pale in the 
face of one big gripe: Many of the 
offices do not have doors. Even in 
a state where strong “sunshine" 
disclosure laws can make shut- 
ting a door a civic sin, bureau- 
crats do not like to do without 
them. 

“Very few people can have 
doors," groused a new arrival to a 
friend as they strolled around her 
mostly dooriess domain recently. 
“It's one of the cost savings. Only 
very important people get doors. 
It's going to take a while to get 
used to. 


President Ronald ^ 

administration has cut federal 

funds for the National Endowment 
for the Arts and instead eocoungP 

EStfJSZSmg 

ceremony April 23 to coincide with 
the 20 th "anniversary of the endow- 
ment The honorees are the com- 
poser Effiott Carter, a two-tune 
winner of the Pulitzer Pnze for mu- 
sic: Ralph Effison, the author of 
“Invisible Man": the actor Jost 
Ferro-: the modern dancer 3na 
choreographer Martha Gratae 
the environmental sculptor Ixmfeg- 
Nevefeom the recently re Jed oper- 
atic soprano Leontyne 
artist Georgia O’Keeffe; Dorothy 
Buffum Chandler, the force behind 
the Music Centex of Los Angeles; 
Lincoln Ebstein, who established 
the New York City Ballet; Paul 
Mellon, who was instrumental in 
creating the National Gallery of 
Art in Washington; and Alice Tul- 
ly, a major contributor to the Lin- 
coln Center in New York. Also 
named was Hallmark Cards Inc. of 
Kansas City, Missouri, which has 
long sponsored television specials; 
the H allmar k “Hall of Fame" pro- 
grams have won almost 50 Emmy 
awards. Reagan, who suggested at 
a lunch with artists in 1983 that 
such nradals be created, proposed 
slashing a S 159-miffian. endowment 
budget to $88 million when he took 
office in 1981, but Congress ap- 
proved $143 milli on. In the current 
fiscal year, the endowment receives 
$163 millio n, compared to the ad- 
ministration request of $143 mil- 
lion. The administration has pro- 
posed $144 million for next fiscal 
year. . . . President Reagan on 
Tuesday presented the Congressio- 
nal Gold Medal to Danny Thomas 
in recognition of the entertainer’s 
fund-raising activities to benefit St 
Jude Children’s Research Hospital 
in Memphis, Tennessee. The hospi- 
tal specializes in treatment of chil- 
dren suffering from leukemia. 

□ 

Films from Anglo-Saxon coun- 
tries dominated the selection for 
this year’s Cann es FHm Festival 
Pierre Viot, new president of the 
festival, has announced. Films 
From the United States to be shown 
during the festival May 8-20, in- 
dude “Mask" by Peter Bogdano- 
vich, Pint Eastwood’s “Pale Rid- 


- :-:r, a-a: • 

st." “Birdy" by 

“Mishima” by Pam Sdtad&g . 

CaircC wfflbe ^ 
competition. Also in the Hneupsig|.'^. 
two films by Australian dirccal|/^ 
Peter Weir's “Witness" 
competition) and Ray Umrencel 
“Bliss," as well as “Coca Cafe 
Kid," an Australian film hy a- Yw l iH i* 
goslav director, Dusan Mas laregJlF 
Two Canadian films, “Joshua TS§g . 
and Now” by Ted KotAeS afe| U 
“Angel Eyes" by Lewis FtaEy;*ljf 
be shown, the latter outsfte of cosj$ * 

petition. A British film, “Insignjfi— < 
cance," by Nicolas Roeg. f* 

shown in competition. ‘B rag g II 
French films were selected: “Potigif 
au Vinaigre" by Claude 
“Detective” by Jean-Loc • '. l 

and “Rendezvous” by An*£l|? ■*,« 
dune. Yonssef Chatae of 
will show “Adieu Bonaparte.* v . 
gentina will be represented - 

festival for the first tune since Wife"* ' 
with Luis Puenzo's “La f&toria 
oficial” Brazil’s Hector Baboco is ; 
in competition with “Bdjodia - 
Mulher Aranha" (Kiss of iheSpt ' U. 
der Woman), Emir Kasterira-cife' . 
Yugoslavia will show "DtiK-Mp; . . 
Sluzbenom Putu” (Papa Is 
Business Trip), and the HungafiaS'^- 
director fctvan Szabo wffl 
“Redl Ezredes" (Cokmd .KaW^ . 
There are two Italian films', ' 

Mattia Pascal” by Mario MonfcSf:- 
and “Le Fou de Guerre" by 
Risl Simp Terayama ctf Japan pm ' 
show his “Saraba Hakobm fl&fli ' 

. . . Godard's film de^pctmgd§®' 
Virgin Mary as the daughter of 11 : ~ 
gas station operator is canght in & : -~ 
controversy in Rome invdving-a' . - 
film club and Roman Catholics offcg-- \ 
fended by the work. Protesters, " r 
eluding ntms and priests, and sup^rT 
porters marched outside ' - 
downtown theater where “Je Vow) 
Saiue, Marie" ('ffffll Mary) matfc.-.:* 
its delayed Rome premiere. Dtfe^ : 
film dqjicts Mary, played by My?- ■ ■ 

iem Roussel, as a modem woman..; . v ■ 
and shows her nude in some scenes^:.': 

the Archangel Gabriel takc|t- ; ■ - 
a jet plane to give Mary the nwi>;\- 
(hat she will give birth. While 150 1 v. 
people watched the screening, ttej: 
ens of members of a local film da6>V. 
marched outside the theater carry^L j. • ■ 
ing si gns reading: “Mary, we have > 
come to save yon from the cea-V; .. . 
sors.” The marchers exchanged—. -- 
heated words with the group of • 
Roman Catholics. 



Jradf 


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The mast important Manor; Kerning h- 
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CHEF BUTIBt OF ENGLAhff) 

SAV1LL5. 8 & ID Upper King Street, 


LEGAL NOTICE 


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ANNOUNCEMENTS 


HAVE A NICE DAY) Baled. Have a TO ALL CEHXTORS OR PARTIES IN 
nice day! Bdod. INTEBEST OF 

JEROME L. DOFF end 

PERSONALS jnthnahonal power 

INDUSTRIES N.V„ 

‘XaSio 55 -(?gs; b> " gfe'sasf w D * ,t ** 

FOR SALE & WANTED This notkB affects your rig 


FOR SAU B4GUSH Regency 3 pedes- 
tal mohogemy tfning table. Complete 
with 2 extens i on ponds. When fufly 
extended measures I3i> ft by 4 ft' 
Cat seat 14 to 18 people. Price 
SL400. Cal Paris 359 lM 


LEGAL SERVICES 


to read or comply with mis notice, any 
debts srau may be owed by either debt- 
or wilt be forever barred from snaring 
in any assets of the debtors. 

1. If you ddm to be awed any debt or 
obtgorion by Jerome L Doff or Interna- 
tiond Power Industries, N.V, you must 
file a proof of dam by August 13, 1 985, 
with The Oerit, United States Bankrupt- 
cy Court, 940 Front Street Fifth Floor, 
San Diega, California 92109, or your 
daim will be forever bared from aw- 
ing m any assets of either debtor. Je- 
rome L Doff and I n to n at i onal Power 
Industries. N.V.. are consolidated debt- 
ora m bankruptcy can no. 83-00823- 
Pll pending before that court. 

2 The debor, Jerome L Doff, has been 
ordered to appear and be cusmd 
concerning Ns debts and assets on May 
6. 1985. at 1 1 =00 AM in room 5-N-24 
or the bankruptcy court at the above 
addiess. 

3. the automatic stay of the bankruptcy 
code prohibits any action to collect or 
recover upon any debt owed by other 
debar or to take or recovs property or 
assets of the estate of Ihe debtors. 

4. Consult bemkruptcy cose He 83- 
0Q823-P11 in the office of the derkef 
the Bankruptcy Court for e«xJ deferis 
on the extent of the court i orders af- 
fecting your rights. This notice a fwb- 
SshecTpunwant to on order of the court 
so authorizing. 


US VI5A marten / Law office. Edward 
5. Gudeon, UJ. Lower, 17 Bubtrode 
Street. London W1. 01-486 0813 


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NEW JBtSEY may wefi be the hottiat 
Real fotate Madit in the USA. Major 
corporations are moving every djoy to 
(he hills of this most acc o mmodative 
environment. We act as investment 
monger for acoourts interested in 
investment in this market. ideoSy 
poised for aqruficort investment prof- 
its. Contact ftchard C Fischer, Real 
Estate Investment Grow. P.O. Box 12, 
Baridng Ridge, NJ. 07920, USA. Tefe 
201-766-3424 or Eves: E5T 201-766- 
9774. 


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BAHAMAS 


CABLE BEACH, « BAHAMAS* 
New 3 bedroom, 3V6 both Aegean 
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sotdSte TV maid twice, or. Ideal 
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52500/ month. Summer & September, 
excluding unties. Inquiries: Caprice 
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CANADA 


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ATTENTION EXECUTIVES 


in the Mm n aHottd! Hm n idui - 
bozMt, ekeeineetfpin etimJ 
of a mXon node it warfd~ 
wide, meet of whom one in 
Bosoms* tetd industry, w jB 
road M. Just Max m ( Paris 
61 3595) before 10 on t, en- 
suring that we can fetor you 
back, end year menage wO 
appear within 48 ho ins. The 
rate x> UJ.f9.80 e r had 
equ i val e nt per Ena Ynu must 
bidude con ip / ate and srarffi- 
atde bESng addreee. 

BUSINESS 

OPPORTUNITIES 

MANY CLAIMS 
ARE MADE 
REGARDING 

CONTAINS? MVESTMENT. 

FOR EXAMPLE: 

EARN FfXB) INCOME OF 
17% -20% 

FBI ANNUM 

We are not making such dams 
because we betew ihere cai be 

GREATBt ADVANTAGES! 

We art a major conta i ner leasing com- 
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17,000 c ont om e r , for over 2,000 

If you are conudenng an investment m 
contaners we suggest you c o n ta ct us 
before making your deaoon. 

SH/RLSTAR 

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TEL- (020) 272822 


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MALLORCA'S NEW 
SUPS PORT 

In Ihe bay of Fatna. 5 min. Palma, 15 
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r fo Lockers, (fomptementory service 
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prises 85 units an 13,171 sq.m, in oL 
Pins 21 super a pa r t m e n ts above 8 78 in 
separate luxury condo - a* in front in* 


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