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: - .'/Edited ra-Paris • 

- Primed Simultaneously 
. iii Paris, lxmdon,Zurich, 

. rH«ag Kong, Singapore, 
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; By Lou . Cannon 

•--. Washington Post Service 

* WASHINGTON — U.S. and 
Soviet diplwnats have agreed on a 
pr eHnnnai y format for a Geneva 
summit- meeting, which President 
RonaM'Rfcagan intends to use part- 


total of nine hours of formal dis- 
cussions and spend another two to 
three hours with each other at 
meals and receptions. 

. Under the prdimmaiy plan, the 
Gist day .would be spent in a gener- 
al exchange of views. The second 


- 

** i." 


•c? 


ly asa forum to forcefully question ’ day of discussions would be divid- 
Soviet mflitary and human rights ed into four specific areas of dis- 
pohcaes, aseruor Reagan adminis- 
tration official said. . 

, Mr. Reagan and the Soviet lead- 
er, Mikhau S. Gorbachev, are to 
meet Nov. 19 and 20. A U.S. offi- 
cial who discussed prqparatians/or 
-the Geneva meeting said Saturday 
that the two leaders would hold a 






:*r. j :* 


ldivdt 

*■• \'*l LC 


*14 Kitted 
bi Attacks 
biSrilanka 

The Associated Press 

COLOMBO, Sri Lanka — At 
least . 14 persons, including five po- 
licemen, were killed in the northern 
town of Vavuniya when Tamil 
guerrillas attacked a police patrol 
and the police: staged a reprisal as- 
sault, officials said. 

The attack, occurred Saturday, 
two days. before the resumption of 
peace talks between Tamil separat- 
ists and the government. It was the 
most serious inddem.axvoMng se- 
- curity forces since a June 18 cease- 
fire .agreement between the govern- 
ment and the separatists. 

None of the V major guerrilla 
groups claimed responsibility for 
die attack, which was seem as an 
attempt tosabotage the next round 
of peace, tails,' which is to begin 
Monday m Tbimpu, the capital of 
Bhutan. • • 

senior government official 


that the official listed as 
regional issues, bilateral issues, hu- 
man rights, and arms control. 

The human rights issue could be- 
come a sticking point before the 
final agenda is decided, officials 
have acknowledged. It is consid- 
ered unlikely that the Soviet Union 

would agree to describe any agenda 

item as a discussion of ‘‘human 
rights,” even though they recognize 
that Mr. Reagan may raise the issue 
on both days of the talks. 

The official who discussed the 
summit preparations said that the 
arms control discourse comes at a 
“propitious moment for both 
sides” because of new U.S. and 
Soviet weapons systems that still 
are in the development stage. He 
suggested that it would be easier to 
agree not to deploy new nuclear 
missiles than .to dismantle them 
once they are deployed. 

While the U-S. official did not 
emphasize the. matter Saturday, 
Mr. Reagan has made it dear that 
be inteaasto present his proposal 
for an anti-missile space-based de- 
. fen se system, called the Strategic 
Defense initiative. 

While Soviet officials have re- 
peatedly denounced this proposal. 
Marshal SergdF. Akhromeyev, the 
Soviet chief of staff, indicated in 
June- that the Russians would ac- 
cept continued research on space- 
based defenses and might reduce 
the Sowet nuclear arsenal if, in re- 
sponse, Mir. Reagan agreed to limit 
testing and development of the de- 
fensive system. „ . . . 

The UR official dismissed the 
value.of secondary agreements on 


Mourners Kill 
Black Soldier 
In South Africa 


r 




Policy Could Harden, U.S. Warns Pretoria 

w „ ■ j.. M . umn Mni wintpri in release Mr. Mandela would be freed shortly as 


E&Sgs&l 

SSUX 

»w on “mnniinnal cli- The official steered reporters j,, c h«, n -, n jail for many but I certainly did not inform them 

thai he would be released, as they 


By Gerald M. Boyd 

Hew York Times Service 

WASHINGTON —The Reagan 


Compiled hv Our Staff From Dtyaiches 

KING WILLIAM’S TOWN, 
South Africa — Black mourners, 
aroused bv funeral speeches calling 
for the violent overthrow of white- 
minority rule, stoned a black sol- 
dier to death and burned his body 
Sunday. 

The incident occurred near the 
end of an otherwise peaceful cere- 
mony for Victoria Mxenge, a avd 
rights lawyer from Durban whose 
murder Aug. 1 touched off nots 
that killed more than 60 blacks and 
injured about 500 last week in that 
city. The police and a hospital in 
Durban reported nine additional 
deaths ovemighi 

There was further strife between 
blacks and Indians in lnanda town- 
ship near Durban, where about 30 
persons were killed in clashes on 

Friday. . .. 

Perched in trees and sun ding on 
a dusty field, 10.000 mourners near 
King William’s Town heard Steve 
Tshwete, who gave one of the 
speeches, declare, “if we have to 
shoot to get our liberation, we are 
going to shooL” 

Robin Geweta, an official or the 
black South African Allied Wotk- 
ers Union, said. “There comes a 
time when people have to fight or 
submit. We cannot submit. 

As mourners walked across a 
road to take the body to a cemetery 
a half-mile away, a truck carrying 
three black soldiers approached. 


cused of collaboration with the 
South African police, was similarly 
killed and burned. Television pic- 
tures of her death were used by the 
government to help justify the 
proclamation of a state of emergen- 
cy in pans of the country. 

The other two soldiers, brandish- 

On Page 2 

■ Asians in Durban are leading 
a precarious existence. 

■ Pope John Paul blamed rioi- 

- — white rule. 


«- 

it 

of 


ing on “unjust 


can officials that an “emotional cli- The official steered lieve he has been in jail for many 

mate” exists in the United States away from reports that the rating yKirs and ought to be set free,’ Mr. — -- . 

that could harden U.S. policies to- of South Africa s slate of emergen- BoLha sa j d of Mr. Mandela. “The punt, iwrondiuonaUyJ 
ward that country, a senior admin- cy and the freeing of Nelson i Man- _ ues(io n now is how." 
istration official has said. Jda, the anu-apanbei^ leader who e &overnme nt has offered to 

The official said Saturday Ibal $£KESM£Z f-4 Mr^ltadd. if he wouid „ 


ii 


t : o' i 


dents - — — . _ _ 

Toade a reposal assault in.® Tannl 

amt, k3fiag tune guerrillas. • 
Theofficial coofinned that mere 
were nine dead in the second ac- 
twD. “Cenainly’ there have been 
reprisals after this kind of attack, 
be said. 








; .to' 




i - 







said that the rebds detonated a ^de, cutoral, marilmie and avia- 
bomb in a tractor parked near die d on relations that are likely to 
Vavuniya. rail station as a police out of a sununh meeting., He 
jeep drove- by, then opened fire ■ “the- real teflina measure 

with guns. : ‘ of -the meeting” would be deter- 

-Oirepo&aramdW in^t^ ; minwi by whether Mr. Reagan and 
w m an d ^ wggvkhot to dcafa .. ^ (Whachev could agree on an 
the -biTtoal- said^ YsMunya res*- .r^poda for solving major issues di- 
Kud thaL : the pofice -then the two nations. 

« T *™' ^official said that Mr. Reagan 

has emphaszed in “very aqmat 
and lengthy” instnmtions that he 
wants an “exdumgp on fundamen- 
tals” with Mr. Gorbachev. 

“He wants to say that wc have no 

hostile intentions to the Soviet 

[The guerrillas blew up buMings- union, that you are a great power, 

onaslfltetannandraldcrithemam thaweitai-tsedtMdteMtoUthat 

aovonment office in the northem you need not fear the United States 
oty ofJaffna.offidals said. accwd- trying to alter, overthrow or nmaa-- 
ing to a Reuters report from Co- mentally change yonr system, me 

lombo. Tbe officials said that no official said. 

imuries were reported-l . ‘That said," the 

^Tbe Tamils, who are mostly Hin- ^ have some misgivings 
du, have been waging a campaign about whether you have ihe same 
in Sri Lanka's norSern and eastern h^igp intentions and ye want to 
provinces to establish a homeland ^ about that There s Afgjuuii- 
Urarate from the central gpvera- staB ^ There is gpnerally yourpo5cy 
mSu, which is dominate by the 
,-nmority Sinhalese. , Most of the 

Sinhalese are Buddhists. 

The talks in Unmpn were ar- 
ranged by India foUowingu meet- 

ingfn June between Prime Mimsta' _ 

R^iv Gandhi of India and you’re really ttymg to expand Sovi- 

draiJuiiius R. Jayawardene of Sn ^ infiuence,” he said. 

i ^sbotMvrenott^aboiu 

Six Tamil groups were scheduled 
to participate in the Bhutan talks. 

The government delegation was 
be ledby Hector Jaya^rae.the 
president’s brothCT. The Foreign 
Ministry, responding to entiasm 
that no cabinet mimst^ were 
duded, said Saturday thai Me 
jayawardene's brother 
g^veti “full powers” to represent the 
govemmenL . 

j^^theyuDnmt to a bluepnnt for 
E Sd tilt 

sen as the site for the talks rore- 

strict outside pressure from ham 
ting ing on both sides. 


this view was presented during a 
meeting Thursday in Vienna of 
high U.S. and South African offi- 
cials. The senior UJS. official said 
be had presented the assessment to 
Sooth African officials to acquaint 
them with what be called the reali- 
ties in the United States, including 


sures discussed by Robert C. 
McFarlane, President Reagan s na- 
tional security adviser, and Foreign 
Minister R.F. Botha of South Afri- 
ca. 


l| | L, UUIA/UUJMVlMux j ■ j 

The senior U.S. official said Mr. 
Reagan had no plans to change his 
policy of “constructive engage- 
ment," which has focused on diplo- 


ing an automatic rifle, drove 
through the crowd and escaped 
The soldiers belonged to the forces 
or Ciskei, a tribal homeland de- 
clared independent by South Afri- 
ca but unrKMgnized by the rest or 
the world. . . 

The funeral took place in Rayi 
township, a Ciskei community four 
miles (about 7 kilometers) from the 
rural white center of King Wil- 
liam's Town. 

Flags of the exiled African Na- 
tional Congress, the main guerrilla 
movement conducting a sabotage 
campai gn against while control, 
were tied in trees. The crowd raised 
fists and chanted, “Viva ANC, viva 
comrade Oliver Tambo. viva Nel- 
son Mandela." 

Mr. Tambo is president of the 
African National Congress and 
Mr. Mandela, serving a hfe sen- 

nation . The crowd pelted the truck most 

with stones, breaking every win- government, » 


apparently disinterested in the fu- 
neral and en route to another desu- 


nounce violence in the fight against 
apartheid, but Mr. Mandela, 67, 
ha refused to accept any condi- 
tions for his release, 
i {Questioned about reports that yc portrayal of the facts ’ about the 


!*• MI. (Q-anued «» <*«« *> «■ ® 


return to Johannesburg that his ’Vest German 


blacks as their main political lead- 
dow. a 

One policeman jumped out and Meanwhile, in lnanda, a peace 
tried to run away. He fell under a i lv oiignded by several Indians 
ment,"wmcnnasic^o n= ™ pf stones ^ 200 yards ^thoS of Zulus who car- 

ried spears, shields and guns broke 

site. Youths piled branches on nis m 
body and burned it. They pushed - 

back reporters and shouted, “No 
photos." 

Last month a black woman, ac- 


ie 

o 

le 

a. 

is 

is 

h 

11 

n 

if 

le 

n 

it 

U 

jt 

'C 

4 

ir 

le 

s 

is 

i- 

ie 


public criticism and economic 
sanctions. Bui he also said he had 
presented what he called a “realis- 


' Leaders of the Zulu Inkatha 
group loyal to Chief Gatsha Buthe- 

( Continued on Page \ Col. 7) 


gran, i max: is j— - r * 

of not providing far development 
of developing countries ana or 
“not sending them, food for peace 
or agriculture, but weapons. 

“This implies that your sense of 
the revolution is imperialistic, .that 


U.S. Stealth Bomber Is a 'Flying Wing,’ Goldwater Says 


W By suoum vm- -- 

that? Let’s talk about weapons. Jt 

Tell us how that isn’t tree.” 

The Ufi. official who described 
the approach as representing Mr. 
Reagan’s views said that the presi- 
dent was preparing for tenant 
meeting by reading base founda- 
tion pieces” about Rnsaans 
that have been furparedbytus na- • 
oonal security affairs advises. 

Starting in September, when he 
returns from his CaKfonua ranA, 
Mr Reagan is to convene principal 
cabinet offinals^and «d^o rs“m 
intunate settings 

meetings in prepaiat^i for the 
summit meeting, the official said. 


By Wayne Biddle 

Hew York Times Service 
WASHINGTON —The secret 
Stealth bomber being developed 

by tbe US. Air Force is the shape 

of a flying wing, essentially an 
aircraft with no fuselage or tad, 
according to Senator Barry Gold- 
water, who has provided the first 
public continuation by a govern- 
ment official of the bomber s de- 
sign. ... 

Mr. Goldwater, a Republican 

of Arizona who is chairman of the 

Senate Armed Services Commit- 
tee, said through an aide that he 
saw a full-scale model erf the war- 
plane a year ago and would exam- 
ine it again next week on the west 
Coast. The Stealth which is to 
succeed the B-l bomber in the 
1990s. 

“It does look like a flying 
wing,” the aide; speaking Friday, 
quoted Mr. Goldwater as saying. 
Mr. Goldwater added that the air 
force would soon begin to buud a 
working prototype for lest flights, 
the aide said. 

There has been intense specula- 
tion about the unconventional 
flying-wine design in techniral 
journals for several years. But the 
Defense Department has kept 
tight security over the Stealth pro- 
gram since its existence was dis- 
dosed by the administration of 
President Jimmy Carter in 1980- 
The flying-wing design is 
thought to ofFer the least detect- 
able shape to radar, as there 
would be no high tail or braid 
fuselage to reflect incoming radar 

S ^heNorthrop Corp. in Los An- 




5?v. 






% 





tnside 

B Marches in Northern Ireta^ 
expressways. 

■ Srfaraan Franj^.c^J^ 

business/onance 

■ CldBatbnattorf 

textile imports. 



Hie XB-35, a flying-wing’ bomb er built by Northrop in to 1940s. 

The first flying-wing aircraft ol the 1940s caused a controvewy 
among engineers and military observers. Designers now believe 
computer-aided flight controls will solve stability problems. 


geks is the prime devel opme nt 
contractor for the new aircrafL 
Northrop buflt and flew flying- 
wing military aircraft in the 
1940s, but an air force plan to 
acquire large fleets of flying wings 
was never achieved. 

Like the B-l. the Stealth bomb- 
er is designed to fly through ene- 
my air defenses and drop nuclear 
bombs. The B-l would rdy most- 
ly on low-levd flight and elec- 
tronic jamming to evade detec- 
tion by defensive radars for as 


long as possible. But a fljing-wing 
Stealth bomber would take ad- 
vantage of its thin profile and 
new, radar-absorbent structural 
materials to attract far less nouce 
than the B-L 

The Pentagon has yet to dis- 
close any cost figures for the 
Stealth bomber, which is official- 
ly called the Advanced Technol- 
ogy Bomber. Wall Street analysts 
estimate that Northrop has re- 
ceived $1 billion annually from 
the Stealth program. 


"Bv taking a more convention- 
- ■ ■ ■ jlane like the B- 


I, 'fundamental limitations exist 
as to how much you can do to 
reduce the radar signature," the 
air force officials wrote recently 
in a rare comment on the Stealth 
bomber. “Radar signature" is a 
term used by the mihtary in refer- 
ence to the detection of radar sig- 

A Northrop offidal said Friday 
that the company was building a 
new facility tor the air force at a 


desert airfield in Palmdale, Cali- 
fornia, about 50 miles (80 kilome- 
ters) north of Los Angeles. Tbe 
space shuttle orbiter and a num- 
ber of military aircraft, induding 
the B-l bomber, have been built 
in Palmdale. 

While the Pentagon budget for 
developing the new bomber has 
been hidden among other secret 
programs, some members of Con- 
gress f amiliar with tbe project 
have expressed alarm about its 
magnitude. 

Tbe B-l program has been lim- 
ited by Congress to 100 bombers. 
They are now entering service at a 
cost of $200 million apiece. Esti- 
mates given to Congress indicate 
each Stealth bomber might, at 
least in initial production, cost 
three times that amount- 

The first flying-wing aircraft 
built by Northrop in the 1940s 
caused a controversy among engi- 
neers and militarv observers. 

The planes, one of which is in 
the Smithsonian Institution’s Air 
and Space Museum here, had sta- 
bility problems and, when pro- 
pelled by jet engines, demonstrat- 
ed only a marginal range for 
bomber missions. 

With modem, computer-aided 
flight controls, engineers now be- 
lieve Ihe stability problems that 
plagued flying wings in the past 
can be solved. 

Range and weapon-carrying 
capacity, however, remain diffi- 
cult issues, experts say. But the 
allure of a bomber able to evade 
radar detection has led designers 
io accept compromises that might 
othmwse be judged intolerable. 



Peace Talks, 
Frees 1,203 

Reuters 

KAMPALA, Uganda — The 
government of Uganda, which took 
over after the overthrow of Presi- 
dent Milton Obote on July 27. says 
it has freed more than 1.000 politi- 
cal detainees. It also has an- 
nounced that peace talks would be 
held Tuesday in Tanzania with the 
country’s main rebel group. 

Lieutenant General Tito OkeOo, 
head of the ruling military council, 
said Saturday that a government 
delegation would hold talks witii 
those “who do not want to join 
bands with tbe govemmenL" a ref- 
erence to the rebels of the National 
Resistance Army led by Yoweri 
Museveni, a former defense minis- 
ter. 

General Okello spoke to a crowd 
estimated at 50,000 at a ceremony 
in the central square of Kampala. 
He said thaL 1,203 detainees had 
been released. 

He did not say where the talks 
would be held, but the independent 
Star newspaper said the conference 
would take place in Aiusha. in 
northem Tanzania. The National 
Resistance Army had suggested 
Arusha as a possible site for the 
talks. There was no immediate re- 

r ise to the announcement from 
resistance group. 

The insurgents led by Mr. Muse- 
veni have been angry at the way 
General Okello set up a new ad- 
ministration after Mr. Obote was 
deposed. To date, the group had 
refused appeals to work with the 


Greenpeace Bombing Suspects 


military government and to attend 

106 Are Treated 

Paul Ssemogerere, minister of in- 


fi ■ ■ 


i 


PERSONAL INVESTING 

in Somb A 1 ** h ? 

mewls market 

TOMORROW 

Japi h tabs 

much of whai “Tjgeif as a 
war, but sull . part 
societv living on the cog*- 
one of a senes- 


By Richard Bernstein 

New York Tunes Service 

PARIS — The two people 
in New Zealand with 
i last 


Frpflch government, yHng bom Dutch photographer, was 
Francois killed when two bombs att^hpl 

mamrtirajy to the ship’s hitil b- 

rn«.w - — 7 , ana -alb Bernard Tricot, a smior dvfl ser- ploded. The ship sank, 

charged in *1 ^w_ Zealand wj ^ with ties to the nghust opp^- 


Ku?aGre«^jPg tio£ wouldhwd a formal inquiry 
month were part of a todkeamne if government a; 


nor affair. 


The 


its 

ar- 


were 


The broadcast Saturday on 
France Inter was consistent with 
reports that the Turenges were 
French officials, but its genera! 
thrust was to deny French respon- 
sibility in tbe attack. 

According to the radio, the Tur- 
enges had no connection with the 
intelligence agency, but were m2i- 
taiy officers sent to New Zealand 

•noe, were on a ~ i^nce agency, ine uenerai uaa.- m collect information on Green- 
i-ct iXrraationaboutJ^^: ^Jeof Foreign Security. How the peace's plans to protest French nu- 
peacevessd^J^^^^i two Turengps are ndated was not . dear tests, 
butit assert^ SlJSSS on to**™- It raid they wm_to obtorae any 


French armed fat** %USr . 

owned French ^o Md. ^ - m two nev^weAhes that ap- 

The radio said that ^ ^ peared here Thursday, one of 
er identified as Ahm Sch said Sofiie Turenge was a 
Le and Sophie Friday Cl^ SSn in the French foreign irntd- 


a latPT charaed Rainbow Wamor was equippea 
bombing and were laier cnargpu ^ powerful radio transmitting 

with murder and arson. equipment that could have relayed 

The radto report did ^Ltion about the tests to dis- 

whv the Turenges. if they were 

"gSSLc denied Saturday 
Swiss pa^porK nor id um^ ^ advanced equipment was 
whether the names on the passports ^ saying it earned 

were real , onlv the normal communications 

The coi^le has b«n at ^eamter mtjf Mvigating ^ dial would 

of a New Zealand police raves ^ nonnaflyte found on a slip of its 


tjon that has uncovered strong evi- 
dence that ^ pperatiM ^rast 

the ship was well-planned and co- 
ordinated and involved large sums 
of money. 


dass. 

B Paris Sends Pofice 
France said Sunday that it would 
send three police detectives to work 


In Leak in U.S. at 
Union Carbide 

The Associated Press 

INSTITUTE, West Virginia — 
A chemical leak Sunday at a Union 
Carbide plant in Institute caused 
six employees to be hospitalized, 
sent 100 area residents to an emer- 
gency treatment center and 
trapped thousands indoors for two 

hours. . . ... 

An unknown quantity of aldi- 
carb oxime, the main ingredient in 
a pesticide called Tenuk, leaked 
from a unit at the plant shortly 


temal affairs, said the release of the 
detainees held under Mr. Obote s 
four-year rule was “only the first 
sign of a wind of change in the 
relations between the government 
and the people in Uganda in the 
field of human rights. 

Mr. Ssemogerere said thaL since 
the coup, about 100 members of the 
former regime’s National Security 
Agency had been detained “ana 
they are not being tortured.” 

He said the agency under Mr. 
Obote had “distinguished itself in 
committing atrocities against inno- 
cent people" but added that the 
government would not keep agents 


theshij 

might 


CH muucy. . amn [nrecnuuHiuna,mH w , ‘ . 

A major mystery in the casean> ^ [w0 New Zealand officers in before 10 A.M when a val e fatied, ^ CQSlo dy “one day longer than is 
cans three French citizens being Caledonia to investigate the according to Dick Henderson, a necessary. 

^tbytheNewZealMdpolKx ^in g ^ ^ Greenpeak boat, Union Carbide spokomaiL - - — — 

The three were United Press Imeraational report- , Mr. Henderaon^ the uhOTicai 


the France Inter radto weapons tests ra 

sets assKSS sxsst- 

Sfej-MSi! 


anbkrrass faase. whose lutgar 
. the South Pacific 
most of thecoun- 


IUC UJ1W W — r-- , ,U- umicu n»s n 

been abMrd a chartered bwt, gdfrom Paris, 

Chivea. that was sera ml rae jmiry ^ detectives were to arrive 
nidear uroa test sue, m iocn uiyuici»uB» of the Rai^^ artiOT ^ ^ Tuesday on the French-held south 

SSfc of the Greenpeace expedition, Md bombi^The iXMt wM & Pacific archipelago where four men 


involved in Any connection between Frera* ^nuclear activities aimed at 

ip -htiylO- l£ ^ji-ven by a officials and the operatic possible interference at the Mur- the The 

have been undo^JVf ^ protestm^P.^ greatly Gmtesi site, to identify the leaden of the Tues day on the French-held south 


to head a flotilla of ships ip protest 
Pr*wirh nuclear tests at Mururoa 
officials we«^ ^^PcS ^ia. 

KhSdS Ihe Rainbow Wamor at- A ™ c ^^mber. a Portuguese- 


EjSSflSiESS 


votved in 
tack- 


cials responsible for aisuring the 
safety erf the tests. 

The Turenges; who were found 
to be carrying' false Swiss pass- 
ports. were arrested by the New 
Zealand police two days after the 


caturdav said rented me uuvea, wmen xni 
The radio report ba y Auckland harbor just before the 

£ LnS Warrior L sunk. Htt 
Greenpeace shp. paC ifi Sl Quvea Iasi radioed ib position — 

as: ss 2 a- j*- ,o have fa,se - on 

bloc. It also contended thai the July - . 


is made from methyl isocyanate, 
ihe ingredient that leaked from a 
plant in India last year, killing 
more than 2,000 people. But the 
chemical did not contain any of the 
deadly methyl isocyanate itself. 

Officials said that people ex- 
posed to the fumes reported burn- 
ing eye<«, nausea and shortness of 
breath. 


Among those freed was Profes- 
sor Yoweri Kyesetmro, a former 
member of the Democratic Parry of 
Mr. Ssemogerere. Mr. Kyesemiro 
was acquitted of charges of helping 
the rebel groups two and a half 
years ago but had been detained 
under Mr. Obote's security laws. 

Western diplomats believe there 
had been at least 1.000 such detain- 

(Continued on Page 2, Col. 5) 


TYB'K s* Ty,S y *r ifl 







TLWW 





Page 2 


Pontiff, in Cameroon, 
Blames 'Unjust’ Rule for 
Rioting in South Africa 


The Asaoeuued Press 
YAOUNDE, Cameroon —1 
John Paui n said Sunday that 
“unjust situation" in South Africa 
was responsible for the bloody riot- 
ing by blacks in that count 
“Racial separation is ii 

ble,” John Paul said in a statement tice r freedom for perse 
issued by Joaquin Navarro Vails, groups and a respect for life inspire 
the chief Vatican spokesman. The all of society’s activity." 
pope, on the fourth day of his trip When he reached Cameroon to- 


tbe pope praised the country’s 
commitment to “religious liberty." 

Later, on arriving in the Ivory 
Coast, he said, “I believe that most 
share my conviction that the future 
mil not be happy or worthy of man 
unless the essential values of jus- 
tice, freedom for persons and 


to black Africa, appealed for ah 
-eod to “every lcind of discrimina- 
tion “ and for political freedom for 
>1L 

t He also spoke about the recent 
- violence in South Africa during his 
noon blessing after Mass. “New 

• and bloody clashes " the pope said, 
.departing from his prepared text, 
cause concern “over the whole of 

_ Africa as well as over the world.” 
“May God lake all these victims 
into his peace, may he inspire wis- 
dom, just behavior, respect for hu- 
man dignity and a desire for peace 
tq put an end without delay to all 
discrimination which is not worthy 
of man," John Paul said. 

* ffis statement was issued as riot- 
ing in black and Indian townships 
around Durban, South Africa, con- 
tinued for a fifth day. 

The pope “profoundly deplores 
that the unjust situation is fanning 
the different communities into 
bloody confrontation almost every 
day," the statement said. 

John Paul celebrated Mass and 
ordained 16 priests in Yaounde’s 
central square, where hundreds of 
troops, riot police and plain- 
dothesmen ringed a crowd estimat- 
ed at more than 100,000. 

Thousands of others followed 
the service on television in the city’s 
' 40 Roman Catholic churches. 

President Paul Biya and his wife, 

' Jeanne-Irene, both Roman Catho- 
lics, led a throng of dignitaries at 
the Mass. 

■ Pope Offers Pact 

EJ. Dionne Jr. of The New York 
Times reported Saturday from 
Yaoundi: 

The pope offered three African 
presidents what a Vatican official 
called “an implicit pact," promis- 
ing Roman Catholic support in re- 
turn for a respect for freedom, so- 
da! justice and human life. 

The pope delivered his message 
Saturday as be hopscqtched across 
West and Central Africa, traveling 
1,500 mOes (about 2,400 kilome- 
ters) from Togo to the Ivory Coast 
and then to Cameroon’s capital. He 
commented repeatedly on H uman 
rights and justice throughout a gra- 
ding day of travd. 

In Togo, where he ended a two- 
day stop that included a visit with 
President Gnassingbb Eyad&ma, 


ward sunset, he told a large wel- 
coming crowd, including President 
Biya, of his admiration for Camer- 
oon's “tenacious will to develop its 
potential in a clima te that harmo- 
nizes respect for groups, soda! jus- 
tice and national unity.” 

“In all these speec he s, the pope is 
offering the president an- implicit 
pact.” said Mr. Navarro, the Vati- 
can spokesman. “He is saying that 
if they can guarantee three thing s 
— social liberty for individuals and 
groups, justice and a respect for life 
— Catholics would collaborate in 
building up their countries.” 

In an address to priests and nuns 
in Yaounde on Saturday evening, 
John Paul warned the people of 
developing nations to be wary of 
the values of more technologically 
advanced societies, “where the reli- 
gious sense weakens.” He urged 
priests and nuns to guard against a 
“return to paganism." 

It was one of the pope’s most 
pointed comments on traditional 
African faith tince his trip began 
Thursday. 

The main purpose of the pope's 
five-hour stop in the Ivory Coast 
was to dedicate a cathedral for 
which he laid the cornerstone five 
years ago. The cathedral in Abi- 
djan, one of Africa’s wealthiest a't- 
ies, is said to have the largest seat- 
ing capacity of any Catholic church 
except Sl Peter's Basilica in Rook. 
It is estimated to have cost 510 
million to $15 million. 


For South Africa’s Asians, a Precarious Existence 


By Alan Ccrweli 

Nr*.- York Tones Service 

PHOENIX, South Africa — Anwar Rum- 
Hamlc, 19, an invoice clerk of Indian descent, 
stood on a ridge and watched as young Zulus 
on the next ridge chanted war cries, threaten- 
ing carnage. 

Briefly, he straggled for a metaphor. Then 
he shouted: “We ve got the whites on one 
side, and the blacks on the other! We’re in the 
middle, like the sausage in the hot dog!” No 
one laughed. 

That incident Friday summed up the pre- 
dicament of many Indians and Pakistanis in 
Africa. The Asians, as they are often called, 
live in relative economic prosperity shot 
through with uncertainty, caught between 
mistrust from whites ana from blacks alike. 
Minorities set apart by color mid religion, 
they find acceptance in neither camp. 

In the parts of Africa where Indians have 
achieved economic preponderance, they 
maintain an uneasy relationship with residual 
white elites and the black authorities. Thdr 
wealth has left them equally separated from 
impoverished blacks. 

In South Africa, the divisions are deeper. 
By law, the country’s 800,000 Indians must 
live apartfrom those classified as white, black 
and of mixed race. But their separateness is 
privileged. Unlike blacks, Indians do not car- 
ry passes. The authorities spend four or five 


times more on the education of an Indian 
child than they do on that of a black child. 

Under apartheid. Indians do not have the 
samp standing as the 4 _5 million whites. But a 
new constitution adopted last year granted 
Indians a limited mandate and drew them 
into a new three-chamber, segregated parlia- 


Amifl, 70,000 Asians were summarily dispos- 
sessed and expelled. Three years ago, during 

an abortive coup in Kenya, Aaan homes were 

looted and A sia n women were raped. 

In Sooth Africa last year, many Indians 
boycotted the elections that led to the cre- 
ation of the three-chamber legislature. Yet it 


mem, alienating them from the blacks as well . seemed that the color bar had shifted, from 

In the mid- 19th century. British colonial- 

ists brought Indian labor to the railroads of 


Their separateness is 
privileged. Unlike blacks, 
Asians do not carry passes. 


East Africa and the sugar plantations of Na- 
tal then a British colony and now a South 
African province of which Durban is the 
principal city and port. 

Some of those who came stayed, staking 
out a place, usually in the retail trade. They 
often were resented by blacks who had to buy 
from them and thus acknowledge their entre- 
preneurial achievements. In East Africa, 
Asjans penetrated deep inland. In South Af- 
rica, they remained largely in NataL 

Since the mid-1970s their fate has been 
precarious. In Uganda during the rule of Idi 


an official distinction between white and 
nonwhite to a distinction between black and 
nonblack. 

An Indian businessman said Friday of 
blacks: “They fed that it is their country, and 
they do not hke the idea that Indians live 
better than they do.” 

Other Indians were less understanding, us- 
ing pejorative terms for blacks as they hefted 
yhftiguns to protect supermarkets ana stores. 

“There,” one man said, radicating a looted 
home, “you see what they will da" 

“Here, on this field we played football 
together,” said Mr. Rumbarak, the invoice 
cleric, gesturing to a soccer field straddling 
the line between the racially mixed area of 
Inanda and Phoenix, an Indian settlement 12 
tales (1 9 kilometers) north of Durban. There, 


of the century, when be campaigned for bet- 
ter treatment of South Africa’s Indians. 

“They are your best friends one day,” Mr. 
Rnmharak said of the blacks, "and now this. 
They are burning our homes.” 


WORLD BRIEFS 


—0 

Greece Says It May Cancel F-16 Order 

ATHENS (Reuters) - Greece says a may caned an drier See war- . 
planes from the United States if the Pentagon cmtnmes to defctf m 

aP Awwmt^t^kesman said Saturday that Greece coirfdc ydja 
plans to buy 40 F-16 interceptors, built by General Py gm ies Cqr p . A 
major factor io the Defense Departments dday ts btofed » be an 
American fear of a leak of Western tedmofcgy to theSowet 
which Greece has best forging closer tics. . _ , 

Greece announced last October that it planned wbnys B am4p ,dft c 
F-I6s for about SI billion,atong with an equal number 
Franca . 

U.S. Moves to Ban Food Preservative 

WASHINGTON (LAT) — The U.S. Food no d Png Admm&WMti 
has Drowsed a ban on the use of six smote oraemttm m 


10,000 March in Belfast Protest 


vegetables and fruits at restaurants and food markets. • - ft 

TTie agency said Friday that the sulfites, used to koy kttno c and o ther 1 
salad ingrwfents looking fresh, have been assoaafcd with Rdemtaaad 
500 reports of adverse reactions since 1983. The ban would not aBed 
otter foods that coo tain the preservatives, maudmg frozen potatoes, - 
seafood, dried fruits, wine and beer. - - • 

An FDA spokesman said that sulfites posed no danger to HKpeopfc. 
“but cause reactions in up to a million sulfite-sensitive people, mostly 
asthmatics. “Reactions range from nausea and diarrhea, to torn sad 
shortness of breath, to fatal shock." the spokeanan said. Jeffrey*. 
Prince, a director of the National Association oTRestaurants, said that 
because of the danger, most restaurants already had slopped wing 
sulfites. 

Assassinatio n Plot Foiled. Liberia Says 

LONDON (AP) — Liberia’s security faces say they have tncorcred a 
plot to kill government officials and U.S. dozens living m the west 
African nation, according to a Liberian ratio report. 

Monrovia Radio, quoting the Liberian News Agency, said Friday that 


The Associated Press 

BELFAST —About 10,000 sup- 
porters of the Irish Republican 
Army, including more man 100 
Americans, paraded illegally but 
peacefully through Belfast on Sun- 
day, watched by police and British 
troops in armored cars and a heli- 
copter. 

The i 


opulent preside 
his schedule to 


On Friday, John Paul apparent- 
ly disturbed by his visit to Togo’s 
ntial palace, broke 
stop at a mud hut 
and speak with an impoverished 
woman about her life. 

Mr. Navarro said later that the 
pope wanted to make dear that "he 
was aware of the two realities of 
Africa.” that “wealth and poverty 
exist side by side.” 


India Lifts Press Travel Ban 

Agenee France-Presse 

NEW DELHI — India has lifted 
a ban on foreign journalists in Pun- 
jab, which hadbeen in effect since 
the army attained the Golden 
Temple in Amritsar more than a 
year ago. 



procession, commemorating 
the I4th anniversary of Britain's 
introduction of internment — de- 
tention or suspected extremists 
without trial — was peacefuL Earli- 
er, however, police fired plastic 
bullets to disperse Roman Catho- 
lics throwing firebombs and made 
seven arrests. 

The demonstrators marched two 
miles (three kilometers) up the 
Falls Road to a rally at Anderson- 
stown, the heart of Catholic West 
Belfast, on the spot where a 22- 
year-old Catholic man was killed a 
year ago by a plastic bullet fired by 
police. 

The man was killed as officers 
tried to arrest Martin Galvin, the 
blidty director of the New York- 
Irish Northern Aid Society, 
known as Noraid. Mr. Galvin, who 
is banned from entering the United 
Kingdom, had slipped across the 
border from the Irish republic to 
address the internment rally. 

This year, Mr. Galvin was pre- 
sent at an IRA funeral in London- 
derry on Friday but said be would 
not attend the Belfast march. 

In the Irish republic, journalists 
at siate-funded radio and television 
stations struck to protest a derision 
to ban interviews with Mr. Galvin. 

The management at Radio Tele- 
fis Eineann in Dublin inrifilwi that 
the decision regarding Mr. Galvin 
was an editorial] udgment, and that 
Mr. Galvin would oe interviewed 
“if be has anything newsworthy to 
say.” 

But the journalists' union derid- 
ed on a 24-hour strike, calling the 
move “self-imposed censorship.” 



South Africa . ^ 

w the alleged plot was to have been carried out Aug. 24-25. Neither the > 

T nw alleged conspiraias nor their targets were identified by name: " ’ r 

IS FT amea OTt The broadcast quoted the army chief of staff, Henry S. Dubar. as 

U.S. Policy 


polii 

State 


(Continued from Page I) 
litical climate in the United 
States. 

The official said he had told the 
South Africans “they should know 
that Mr. Reagan’s commitment 
and his ability to sustain what has 
been an effective policy is being 
that is veiy emo- 


the 


Tin iWiiinlil Plan 


Police carried away a nun after a scuffle during a demon- 
stration in Loudon on Saturday to mark the 14 th anniversa- 
ry of the introduction of internment hi Northern Ireland. 


The Irish journalists' action fol- 
lowed a strike Wednesday by Brit- 
ish radio and television journalists. 
The British journalists called thtir 
strike when the British Broaden- 
ing Corp. dropped plans to screen a 
program on Irish extremism after a 


lay, 

from across the province marche d 
in Londonderry to commemorate 
the breaking of the siege of the city 
by King James 1L a Catholic, in 
1689. That march was peaceful bat 
was followed by . clashes in the 


requests ta do so from. tteJBritUh .Catholic Bogside .district, which 
government ' \ -police broke up by firing plastic 

Britain abandoned internment in ® u ^ ets - 
1976, but its introduction still is — ■' ■ - 

commemorated by hard-line Irish 
nationalists. 

The parade, which followed 
three straight nights of sporadic 
violence in some Roman Catholic 
areas of Northern Ireland, took 
place peacefully, except for a few 
bottles hurled at police as the par 
rade broke up. 


Uganda Sets 
Peace Talks 


taken in a dimate 
{zonal” 

“Basically. Americans, 
American people and the Congress, 
have a relatively superficial view of 
the nature of the problem in South 
Africa,” the official said he had 
told the South Africans. "But they 
do see that there are legitimate 
black grievances and in some cases 
they associate this history and real- 
ity of blade repression with our 
own racial turmoil in this country. 

“And they say we were able to 
solve this by (along certain actions 
and they ought to be able to do so 
in South Africa," the official said. 
"And as a corollary, they’re saying 
we should take whatever steps we 
«n take.” 

One of the six U.S. participants 
in Thursday’s talks said the five 
South African officials present had 
raised the possibility of malting sig- 
nificant reforms. The official said 
the changes could include some of- 
fer of power-sharing with the blade 
majority, an alteration of the policy 
under which blacks can exercise 
political rights only in remote 
“homelands!" 


saying that the conspirators were paid by Liberians living abroad, 
primarily in the United States, and supported 1 by Liberians at home 

3 Czechoslovak Dissidents Arrested 

VIENNA (UPI) — Three lead- 
ing Czechoslovak dissidents were 
arrested over the weekend, dissi- 
dent sources in Vienna said Sun- 
day. 

The playwright and author Va- 
clev Havel was arrested Friday 
while visiting a fellow dissident, 

Ladislav Lis, at his farm in north- 
ern Bohemia, expatriate sources 
said. On Saturday, the police ar- 
rested Tin Dienstbicr, one of the 
three spokesmen of the Czechoslo- 
vak human rights movement Char- 
ter 77, the sources said. 

They could not confirm reports 
on Austrian radio that when the 
police arrested- Mr. Dienstbicr, 
they found a draft of a Charter 77 
statement m ar k i ng the anniversary 
of the Soviet-led invasion of 
Chechoslovakia on Aug. 20. 1968. 

Mr. Havel Mr. Lis and Mr. Dienst- 
bier were signatories of the original „ , 

Charter 77 document Vaclav Havel 

V ietnam to Return 26 More Bodies 

BANGKOK (UPI) — Vietnam is scheduled to make its largest return 
of U.S. servicemen’s remains this week. 

Lieutenant Colonel Paul Mather, who win lead the U.S. delegation to 
receive the remains, said that 26 bodies believed to he those of US. 
servicemen would be turned over in Hanoi on Wednesday morning and 
flown to Hawaii - 

The Vietnamese also have promised to provide new mfonuaticn on the 
fate of six other American military personnel Colonel Matte: There are 
2,464 American servicemen stiH listed as missing in action in Indochina. 





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(Continued Gram Page 1) 
ecs at the Luzira prison, a maxi- 
mum-security institution in Kam- 
pala, but said that the number had 
swelled in recent weeks. 

The sources said that several 
hundred detainees held at various 
army barracks around the country 
had been sent to Luzira recently in 
preparation lor a visit by Amnesty 
Intomtional the London-based 
human rights organization. 

Many of those demined were 
suspected of supporting the Na- 


£*£ Soviet Army Aiding in Flood Relief 

fecied, the official saidtehad cited MOSCOW (Reuters) — The Soviet Army has been called in to lead a 

a t *i? noniK ' s ? ncll< ? is ' relief operation to save livestock and restore road and rail Hnks after 

A bill calling for sanctions has floods inundated vast areas of farmland in the Khabarovsk region in the 

far eastern section of the country. 

The newspaper Pravda said that the floods had cm two major rafl 
routes, including the trans-Siberian. No casualty figures were given. 

Earlier, the farming newspaper Selskay a Zhizn. or Rural Life, said that 
up to 33 percent of souk crops were lost and that 12.000 acres (5,000 
hectares) of fields were flooded. 


passed die House of Representa- 
tives and is to be voted on by the 
Senate in September. 


■ Mandeb’s Wife Speaks 

If Mr. Mandela is freed uncondi- 
tionally, he would almost certainly 
resume leadership of tire banned 
African National Congress and 
continue his fight to end apartheid, 
his wife said Sunday, The Associat- 
ed Press reported from London. 

Winnie Mandela, in a radio in- 
terview with tire British Broadcast- 
ing CoqL, was asked whether die 


For the Record , 

Joshua Nkomo, the Zimbabwean opposition leader, had his passport 
seized by police at his home in Bulawayo, and police in Harare arrested 
two top officials of his Zimbabwe African People's Union. Steven 
Nkomo and Welshman Mabhena, his wife said Saturday. (Reuters ) 

. r , . A BangJadesfa opposition leader, Obaidur Rahman, was released from 

tional Resistance* Army in areas thougln’ttere was a rhanw of ber j® 3 “ tire northern town of Sylhet after four months of detention, an 

A Gabonese anman was aecute/sunday for plotting to depose 
President Omar Bongo, sources dose to the government said. Captain 
Alexandre Mandja was condemned Aug. 3 by a military court that also 
sentenced two noncommissioned officers to life imprisonment. (Reuters) 


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north of Kampala inhabited by 
members of the tribe. 

TheNational Resistance Army is 
believed to have about 8,000 armed 
men. Diplomats say that any at- 
tempt by General Okdlo to reunite 
the nation after years of Woodshed 
will fail without support of the in- 
surgents. 

But Mr. Museveni's army has 
stayed on the sidelines, demanding 
half the scats on the ruling military 
council. 

One of the detainees released 
Saturday was Balaki Kirya, leader 
of tire defunct Uganda Freedom 
Movement, who was kidnapped by 
security agents while In exile in 
Kenya and brought back to Ugan- 
da. He was acquitted of treason 
: in 1983 but detained. 


husband's release from Pollsmoor 
prison near Cape Town in li^ht of 
Mr. Botha's statement She replied: 
"There does appear to be some- 
thing happening for Mr. Botha to 
have made the admissions he 
made.” 

[Secret talks are under way on 
new terms for Mr. Mandela's re- 
lease, according to sources dose to 
tire Mandela family and in the 
black community, tire Los Angeles 
Times reported from Johannes- 
burg.] 

■ Israel Condemns Apartheid 

For the first time in an official 
statement, Israel “unconditional- 
ly” condemned apartheid, The 
Washington Post reported Sunday 
from Jerusalem. 


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Black Mourners Kill Soldier 

(Continued from Page 1) for 16 i mpris oned members of tire 
led told the rally that they had front, 
taken the law into their own hands Indian leaders, including a cabi- 
and restored order,. As they spoke, minister, Anuchand Raj bansi, 
columns of black smoke from blaz- also addressed the rally, which was 
Log homes and vehicles rose into in a field next to a plundered 
the sky, apparently nn paring the an d burned community center set 
crawl up by Mohandas K. Gandhi the 

Residents blamed Indian yigi- Indian pacifist leader, early in the 
lanie groups seeking revenge fear ccntur y- 
last week's clashes. Hundreds of On Saturday in Cape Town, po* 
Zulu warriors surged up a hfilade lice arrested a top anti- apartheid 
ra sarch of the attackers. leader, the Reverend Allan Boesak, 

Troops and police stood by in and 18 others who were trying to 
armored personnel carriers but did enter the Guguletn black township 
notattempt to control the crowd, for the funeral of a vouth killed by 
Oscar Dhlomo, the secretary- police in a riot two weeks ago. 
general of Inkatha, had told the Mr T>_. t ^ 

crowd that (he multiracial United ■ T°r r i° “ “““ 

Democratic From, South Africa’s race ’? s ^ 

^"“-ocraac From. Anested with him 


YiVjf/f'.' 


resL race and nme whites. 

"We have come here to reassure ^ wcrc charged with al- 
our In dian brothers and sisters of tempted illegal entry into the town- 
Inkatha’s willingness to cooperate ^ws that enable police 

with them in all efforts that are to ° an aonWacks from' entering 
aimed at restoring peace, law and black townships in times of ten- 
order in this arrai" he said. skm. 

But in Umlazi township south of Most,likeMr.Boesak, wereder- 

Durban, a spokesman for the Unit- gymea planning to of ficiate at the 
ed Democratic Front Manv»d in_ funeraL All 19 were released on 
katha for provoking the unrest by **■?■ 

breaking up a mwnpri fll .Among toe mourners at Mis. 

for Mrs. Mxcngc, who hadbeen Mxen ge , 5 faml were a US. 
scheduled to be a defease lawyer P®* 15 court judge. Nathaniel Jones 

— — of Cincinnati, and three winte 

South African activists, Molly 
Blackburn md Mr. and Mrs. Brian 
Bishop: The four were intsted Sat 
urday at Fort Beaufort, 45. ante 
from King William's Town, on 
charges of megafiy entering a btefc 
township covered by emergency 
regulations. 

Mr: Jones said they bad bees on 
a trip to investigate reports of po- 
lice brutality. He said they were : 
released pending a court appear- 
ance Monday in Fen Branfort. 

UP. Reuters) 



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INTERNATIONAL HERALD TRIBUNE, MONDAY. AUGUST 12. 1985 


Paee 3 



AMERICAN TOPICS 


-■'■■ .. ' ■ lA th C'jv^ •:*■' • •: -/M ' 




i;S3: r ® 

i 


Iff* 

'"Ife 



3 







ttnMrvUnMid Pm MsnnMnd 

Hie Coke-Pepsi feud became a space war on the recent inissioo of tbe shuttle 
Challenger. Each company siqipfied specially desired containers to be tested by shuttle 
crew members. Tony England, (eft; tried a Coke, while Karl G. Henize sipped a Pepsi. 


A Slight to Indiana 

Prompts an Invitation 

An Indiana newspaper has 
turned a slight to the state into a 
possible remedy for cod U.S.- 
Soviet relations: It has invited 
editors of the Red Star newspa- 
per in Moscow to tour Indiana to 
see firsthand that “Hoosters are 
really not much different from 
Russians." 

In a recent editorial, the Fort 
Wayne News -Sentinel offered 
~ rebuttal to a Red Star anide that 
referred to Indiana as a “God- 
forsaken hole” and was critical 
of Richard G. Lugar, a Republi- 
can of Indiana, who is chasman 
of tbe Senate Foreign Relations 
Committee. Leaving Mr. Lugar 
to defend himself, the Fort 
Wayne paper took up its state’s 
cause, saymg “Hoosiers will not 
sit idly by when derogatory com- 
ments are made about this ftur 
state of ours.” 

“How would you like it if we 
started calling Siberia nasty 
names?” the News-Sentinel said, 

Spggwrfmg that the Soviet edi- 
tors were .operating under “se- 
vere misapprehensions and mis-' 
taken 006005 ,” the newspaper 
invited them to "visit Indiana, 

adding that “such a trip might be 

the first part of a journey toward 
a new era of peace and under- 
standing for the entire world.” 


Short Takes 

The average cost of a college 
education is up 7 percent over 
last year, with the most expen- 
sive bill rising to 517,210 for the 
1985-86 academic year at Ben- 
nington College in Vermont, the 
Annual Survey of Colleges, pub- 
lished by the College Boar, 
shows. . _ 

The survey, which tallied tu- 
ition, books, room, board, per- 


sonal expenses and transporta- 
tion for. undergraduates at the 
3,000 private and public colleges 
responding, found tbe cost of 
college was one percentage point 
ahead of last year’s increase and 
several points ahead of inflation. 
Besides Bennington, the 10 most 
expensive colleges, and costs for 
one year, are: 

Massachusetts Institute of 
Technology, $17,030; Barnard 
College, 516,842; Princeton Uni- 
versity, $16,790; Yale Universi- 
ty, $16,650; Harvard and Rad- 
efiffe College, 516,500; Sarah 
Lawrence College, 516,285; 
Stanford University, 516,193; 
Tufts University, $16,133, and 
Dartmouth College, $16,120. 

When Aaron Montgomery 
Ward first published ms 163- 
iiem advertising pamphlet in 
1 872, te created a marketing rev- 
olution: the mail -order catalog. 
But the catalog, which once sup- 
plied mainly rural clients with 
everything from clothing to 
tombstones, will appear for the 
- last time in December, the presi- 
dent of Montgomery Ward, Ber- 
nard Brennan, has announced. 

Since 1980, the company has 
lost $50 mfllirm annually. In dis- 
continuing “the great wish 
book,” Montgomery Ward plans 
to dose 1,270 catalog sales agen- 
cies and revamp its stores, leav- 
ing Sears, Roebuck & Co, a 
competitor of Montgomery 
Ward since 1874, with the coun- 
try’s oldest —and still successful 
— general merchandising cata- 
log; 


Shorter Takes 

The recenfing industry will 
build a Rock V Roll Hall of 
Fame in honor artists and others 
who made significant contribu- 
tions to rock. A location for the 
museum and archives wiH be es- 


tablished in January when the 
first inductees are named. Cities 
under consideration for the new 
bastion of boogie are Chicago, 
Cleveland, Los Angeles, New 

Orleans and New York Kar- 

ym Abdul-Jabbar, the 7 -fool-2 
(2. 1 9-meter) center for tbe Los 
Angeles Lakers, who will be 
looking for movie roles to play 
after retiring from basketball 
next season, isn't worried about 
his height: “I won’t ever have the 
problem that Alan Ladd did — 
standing on boxes, talking to his 
leading lady.” 


Coke Claims Victory: 
The First Sip in Space 

The raging Coke-Pa^si rivalry 
readied cosmic proportions re- 
cently when astronauts aboard 
the space shuttle Challenger took 
soft d rinks into orbit for the first 
time. With full-page ads in pa- 
pers around tbe United States 
last week. Coke declared victory 
in the great space race, proclaim- 
ing: “The first soft drink enjoyed 
in space was a Coke. Of course." 

Coke and Pepsi each flew four 
cans apiece on the Challenger 
flight that ended last week, and 
both drinks were tested, first 
Coke, followed by Pepsi eight 
hours later. The Coke space con- 
tainer was opened first, a Na- 
tional Aeronautics and Space 
Adminis tration spokesman said, 
because Coca-Cob executives 
had submitted the first applica- 
tion to have their soft drink con- 
tainer evaluated on the flight 
Becky Madeira, Peps public 
relations director, shrugged off 
Coke's victory claim, “if they 
were first to be tested, it was the 
new Coke,” she said. “And you 
can be sure the astronauts had to 
wash it down with a Pepsi-" 

— Compiled by 
AMY HOLLOWELL 


Scientists Discover Fertility Hi 


By Harold M. Schmeck Jr. 

New York Times Serna 

NEW YORK — Scientists in 
California have discovered a long- 
suspected bat elusive brain hor- 
mone that is a key regulator of 
fertility in humans. 

The hormone, called f)rdactin- 
release inhf 


reports in the current- issue of Na- itary gland’s production of probe _ 
turTthe weekly British scientific tin, a honnone that stimulates milk u. 
journal, by a team of scientists production m womeo anijjJra 


Regan Plans 
'Aggressive’ 
Effort to 
Cut Budget 

By David Hoffman 

WashiaglCM Post Service 
WASHINGTON — Donald T. 
Regan, the White House chief of 

stafLhas selected new presidential 
assistants for politics and legisla- 
tive affairs as he prepares a msgor 
fail by President Ronald 

ftoppan to press for budget cuts 
and tax revision. The campaign 
may include the vetoing of spend- 
ing bills, Mr. Regan's aute say. 

The chief of staff will name 
MitcheU E Daniels Jr. to succeed 
Edward J. Rollins as White, House 
political director, officials said. Mr. 
Daniels is a deputy to Mi. Romas 
and was previously exeentive direc- 
tor of the Senate Republican cam- 
paign committee. 

Mr. Regan will also give Mj- 
Oglesby expanded duties for con- 
gressional liaison, which he now 
Stares with Max L. Friedetsdorf. 
Mr. Friedersdorf is leaving the 
White House later this year. 

The appointments are to be an- 
nounced Monday as part of what 
an official calls an “aggressive ef- 
fort to cope with the critical period 
when President Reagan returns 
from his vacation and recuperation 
from cancer surgery. . 

The effort cranes as officials ac- 
knowledge that 'Mr. Reagan has 
experienced mqor political diffi- 
culties during the first sax months 
of his second term. 

After a series of setbacks and 
disputes with fellow Republicans 
in Congress over the budget and 
taxes tms year, Mr. Regan is said to 
be det ff rm i ne d that the president 
regain control over the agjaida and 
to prevail over key issues in tbe 
period between the holidays of La- 
bor Day. Sept. 2. and Thanksgiv- 
ing, Nov. 28. 

“They’ve got to hit the deck run- 
ning in September" an offidal 
said. 

Two other staff shifts are expect- 
ed as part of the effort, officials 
said. Linda Chavez, the public liai- 
son director, is to carry out a signif- 
icant part of the autumn political 
moves. William Henkel, a special 
assistant to the president, will also 
have more responsibilities, officials 
said. 

The president announced Aug. 3 
that he would undertake a “major 
fall offensive" by “pulling out aD 
the stops for passage of tax reform 
and confronting Congress on 
spending bills with “my veto pen 
hovering over every line." 

White House officials have pre- 
dicted recently that Mr. Reagan 
will confront Congress with vetoes 
over spending bills this fall. But 
Mr. Rkgan has in the past rarely 
vetoed appropriations bills, largely 
because they were negotiated to ms 
satisfaction by David A. Stockman, 
who was then the director of the 
Office of Management and Budget. 

A “veto strategy" requires a dif- 
ferent approach, officials said, and 
the White House is studying the 
prospects for vetoes that can be 
sustained. 

Larry Speakes, the White House 
spokesman, said Friday that the 
farm bill pending on Capitol Hill 
“is a serious contender to be classi- 
fied as a budget-buster" because 
ihe cost has “doubled or tripled 
since Congress started working on 


Highway Robbery Hits Miami 

Outlaws Ambush With Stones Through Car Windows 

1 LI: tii.mi «itu> 


By Jon Nondheimer 

New York Times Service 

MIAMI— Anew breed of urban 
highwayman is stalking motorists 
in Miami. 

Robbers are preying on drivers 
whose cars break down on local 
expressways, or ambushing drivers 
late ai night after first stopping 
them with objects thrown through 
the windshields or placed on tne 
road. These attacks take place on 
the highways themselves or on tbe 
ramps where motorists slow to en- 
ter or exit 

Some rush-hour commuters 
stalled in expressway traffic be- 
come victims of young thieves who 
spring up from embankments, 
smash car windows with bricks, 
snatch handbags or wallets, and 
escape back down the embank- 
ments as quickly as they appeared, 
vanishing into nearby houses. 

Most of the ambushes have tak- 
en place on Interstate 95. where the 
1.984-mile- long (3,174-kilometer) 
highway nears its southern end in 
downtown Miami The six-lane 
highway at that point cuts through 
the Oven own neighborhood, where 
there is easy pedestrian access from 
abutting streets. 

The Florida Highway Patrol has 
deployed decoy teams in an effort 
to halt the highway robbers. Over 
the past several months, police- 
women posing as stranded motor- 
ists have helped capture 17 men 


" jg, ■ 

grf 


V 

v m 



' : >'r ■ 


r 

NTT 

Rochelle Ritter with the 
stone that was thrown into 
her automobile by robbers. 

and four boys, all residents of 
neighborhoods lining the express- 
ways. But that has not slowed the 
crime wave; 10 date, about 75 such 
robberies have been committed. 

Several motorists have been pis- 
tol-whipped by the holdup men, 
who usually work in pairs, but no 
deaths have occurred. Several vehi- 
cles have been punctured by bullets 
fired by snipers in what are be- 
lieved to be unrelated incidents 
along the same stretches of road. 

The outbreak is particularly 


troubling for Miami, where civic 
leaders fed that crimes stemming 
from drug trafficking and the arriv- 
al of lens or thousands of refugees 
in this decade have unfairly stigma- 
tized the city as a dangerous place 
to live. This reputation has not 
been diminished by tbe popularity 
of the U.S. television series “Miami 
Vice,'" which portrays the ciiy as a 
kind of wide-open badlands. 

This portrait is in part borne out 
by U.S. crime statistics for 1984. 
Although the homicide rate for 
Dade County, which indudes Mi- 
ami has declined from its 1981 
peak, it still is the worst of any 
metropolitan area in the country, at 
23.7 murders per 100.000 residents. 
The Federal Bureau of Investiga- 
tion also reported that Dade Coun- 
ty, with 1.7 1 million residents, is the 
second worst metropolitan area for 
the per capita incidence of all crime 
it categorizes as violent, exceeded 
only by Atlantic City, New Jersey. 

In response to the robberies, 
Leonard Mellon, executive director 
of the Florida Department of 
Highways and Motor Vehicles, said 
that patrols on 1-95 and connecting 
expressways were being increased. 
Extra patrols are to be mounted by 
troopers who normally work in ra- 
dar zones to stop speeders, he add- 
ed. 

“This situation has all sorts or 
potential for fatalities." said Mr. 
Mellon. 



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Gty to Investigate Police in MOVE Bombing 

■ ■ a _ 1 aL , • Vv i.tIi rt i>c c ■ a *il 


New York Times Service 

PHILADELPHIA — District 
Attorney Edward G. Rendell says 
he will conduct a criminal investi- 
gation of the May 13 bombing by 
the police of a house occupied by 
members of the radical group 
MOVE. 

He said Friday he would investi- 
gate whether there was a conspira- 
cy to kill members of the group 


who were in the house and to de- 
ceive senior dty officials about the 
type of explosive used in the bomb. 

The city's managing director. 
James S. White, said Thursday the 
bomb contained C-4, a powerful 
military explosive. Previously, po- 
lice officials had insisted that the 
bomb was made entirely of a less 
powerful and less incendiary plas- 
tic explosive. * 

The new information has raised 


Airport Called Lax in San Francisco 

Reuters 

SAN FRANCISCO — Plainclothes police sneaked fake grenades 
through security checkpoints and successfully concealed guns and 
phony bombs in luggage at the San Francisco International Airport, 
according to the San Francisco Examiner. 

The security investigation was conducted in June, shortly alter the 
hijacking of a Trans World Airlines plane in Athens and the crash of 
an .Air India airliner in the Atlantic, the newspaper reported Saturday. 

Tbe police and the airport director refused to discuss the outcome 
of the investigation, but the newspaper quoted unnamed sources as 
saying that officers with fake grenades strapped to their legs were able 
to pass through security points. . . 

Louis Turpen, the airport director, said that the tests werecominu- 
ingbui addedthat the most recent checks showed the metal detectors 


doubts about the thoroughness of 
the city’s investigation or the 
MOVE incident, a daylong siege 
that began when members of the 
radical group fired on police offi- 
cers who were trying to evict them 
from the house. The siege ended 
when a police officer in a helicopter 
dropped a bomb on the house, 
causing a fire that killed 11 per- 
sons, destroyed 61 houses in the 
West Philadelphia neighborhood 
and left 250 people homeless. 

The disclosures have also added 
to controversy over whether the po- 
lice could have prevented the death 
of people occupying the MOVE 
bouse. One of two people known to 
have escaped from the house has 
amiwl the police of shooting at 
members of the group trying to flee 
the fire. 

The new developments also ap- 
peared to have undermined the po- 
litical standing of Mayor W. Wil- 
son Goode. Polls taken soon after 
the siege indicated that it had left 
the popular first-term mayor large- 
ly unscathed. Last week, however, 
several members of the city council 
criticized Mr. Goode with the har- 


A view of interstate 95, 
looking south to Miami. 

The outbreak has siirred consid- 
erable anger in the community, 
raising concern that motorists 
would be encouraged to strike back 
at the robbers. 

Callers to local radio talk shows 
have said they would not hesitate to 
run down individual? who tried to 
stop their cars. Others said they 
would begin carrying guns in their 
cars or provide them to wives or 
daughters. 

There is some concern about 
what could happen to an innocent 
person whose car happened to 
break down and who uied to flag 
down a passins. car for help. 

“When people get fed up and 
think they have to sum defending 
themselves, all sorts of bad things 
can happen." Mr. Mellon said. 


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fornia at San Francisco 
Prolactin-release inhibiting fac- 


mmuiivij ■ 1 1 

long been known and many scien- 
tists had sought it, but the results 


1 can assure you that the presi- 
' ’ ' ' ' down 

‘and 

will 

vela 


*■ . prolactm-rdease nUnmting lac- ™ 

called prolactin- ^ ^ produced in the hypothala- had been unsuccessful untd now, , 

factor has been ^ fl Mrt of thebrain vhal to the ^ eajwts m ite Upjohn Designing Plant 

^bod^ptota- Of honnone pro. fc RobertJl Mnd^od, ■ au- H 


release Humming nu^ a pan m tne oram waw* ™ <w- UPJ«“" *^*&“*“6 * 

found to inhibit the body’s produc- regulation of honnone pro- Dr. Robert M. MacLeod, an au n D 

tionofraolactin.vriDdiisCTjcialto thorny on prolactin, said the re- For Badness 

fertility The hormone also may mnriiirat in the hv- search had important unpheauons. 0 


iniiuij. , Hormones produced in the hy- 

bave other functions m the brain, pothalamus regulate the prodne- 
induding an influence on behavior, ^ other hormones by 
according to the scientists who ms- ^ body’s master gland, the oitu- 

1 :< itary. From the pituitary _ 

these hormones circulate in 


covered it. 

The 
portant in 


is considered im- 
new light on 


5 hc chemistry of human reproduc- 
tion. The researchers say they 


be- 


mm. 1 uv xvaviM—™ 7 -* _ - . 

lieve it may lead to the develop- 
ment of new contraceptives and 
fertility drugs- 

The discovery is described m two 


the 

nine , uvilliwuvw ...... - -- 

body, affecting many organs. Thus, 
the body’s complex hormonal sys- 
tem is a chemical orchestration of 
events, all directed ultimately by 
the hypothalamus. 

The newly discovered hypotha- 
lamic honnone reduces the pitu- 


Education Secretary Calls 
Rpliffinus Debate in U.I 


uiuutj vu —7 

search had important implications. 

An endocrinologist at the Uni- 
versity of Virginia medical school 
in Charlottesville, Dr. MacLeod 
noted that the brain chemical do- 
pamine inhibits prolactin and that 
drugs based on dopamine are avail- 
able for treating infertility prob- 
lems caused by excess prolactin^ .He 
added that the new discovery might 
a pwflns of treating tumors 
of the piiuiiaiy gland that involve 
exce ss prolactin production. 

Although research in recent 
years has blurred the distinction 
between brain hormones and other 
chemicals found in the brain, dopa- 
mine is not ordinarily classed as a 
hormone. 


United Press International 

KALAMAZOO, Michigan — 
The Upjohn Co. has begun plan- 
ning work for a S23-milfion plant 
to produce minoxidil a medicine 
under testing to treat male bald- 
ness. The drug has not been sub- 
mitted Tor approval to the U.S. 
Food and Drug Administration, 

company officials said. 

Minoxidil tests have shown that 
a third of the patients using the 
preparation on their scalp achieved 
acceptable hair growth, a third 
grew Fine hair or “peach fuzz” and 
the other third had no results. Re- 
ports of the drug have produced a 
rush for Upjohn stock. 


By Keith B. Richburg 

3 Washington Post Service 


Court for a series of recent deri- 
sions seen as setbacks for someof 
wasrungiv" ■ — _ . president Ronald Rca^n s pou- 

WASHINGTON — Education decisions include a nil- 

S^^ViUiam I- ^ gfbS a period of set 
STte AiScan political or- for P^yef.m 

S/iSi the JudcoChristian tradl- separate daaaon 

rion as “wedded together, has ^ unlawful to spend public 

called f or a new “national c° DV£ ^I money to send teachers into paro- 
jjation and debate on the place of ^ schook w teach remedial 
religious belief in our sooety- , courses. 

‘Sur values as a free ptoplc ma ^ Podesta< preadmt of 
the central values of J e . pmnle for the American Way, a 

nt r'erian tradition in^-a] group, said that Mr. Betmat 

STwood of UKb.oodJ£ s bent onWng the 

saretary of evangelism. 

E 'W’l democracy “ ““^Suorame Court ruling 



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DG BANK 1984: 

Reflection of Performance 


DG BANK - the central bank, liquid- 
ity manager and international armot 
West Germany’s cooperative banking 
system - continued to puraue Jssys- 
tens- and results-orienied corporate 
policy in 1 984. 


DGBANK-TlteJ^Group^ur^J 

"DM 89.3 billon 1 

DM832 billion 
DM 46.0 Mlion 
DM 312 billion 
DM 64.7 billion 


Business MDlume 
total Assets 
Deposits 
Own Bonds 
Loans 


Solid Growth: DG BANK business 

to DM 116.3 million. 

Stronger Base: To expand itsequity 
capteTtese, DG BANK in late 1984 


became the first West German financial 
institution to issue participating certifi- 
cates, in the amount of DM 350 million 
DM. From netincomefortheyear.DM 50 
million were allocated to reserves. This 
brings the Bank's capital and reserves 
total to more than DM 1.8 billion. 

Long-term Orientation: In lending 
business, long-term financing was 
increasingly in demand by clients. 

Export Rnandng: Lending to 
clients abroad again focused on financ- 
ing German exports. In international 
commercial transactions a substantial 
increase was recorded. DG BANK 
bases in the world's major financial cen- 
ters managed to further consolidate their 
market position. 


Active on Capital Markets: During 
toe yea r under review, DG E ai jk ptac ed 
own bonds totalling DM 2.3 billion. Trad- 
ing in both equities and bonds was 
extremely brisk particularly with insti- 
tutional investors. Also appreciably 
strengthened were our securities under- 
writing activities. 

Head Office: DG BANK, P. 0. Bo a 
100651, Wiesenhueltenstiasse 10, 
D-6000 Frankfurt am Main 1, Federal 
Republic of Germany, Telephone: (69) 
2680-1. Telex: 412291. 

Offices: New York, Los Angeles. 
London. 



"DG 

feasT's 

Hie broadly based Bahk 






Page 4 


MONDAY, AUGUST 12, 1985 


Hcralb 


INTERNATIONAL 



Pt&labed With The Km l'orfc Thm* and The RaUnfion Port 


tribune ® Middle East 'Peace Process’ Is Futile 


YORK.— US. Middle East pdi 


headed, willfully and witlessly, toward a 


By Irving Kristol 


Questions for Our Time 


ma' 


; After all the discourse for the 4flth birth- 
day of the nuclear era, we can wonder what 
we shall have learned when the 50th anniver- 
saries come around in 10 years’ time. 

New Mexico. Hiroshima. Nagasaki. 

_In the mostly American debate about 
Harry Truman’s decision to unleash the 
bomb in 1945, the word “moral” has made a 
comeback in political commentary. As often 
happens in arguments about morality, there 
has been much beating about the bush. Per- 
haps die debate will have sharpened by 
1995. Here, at any rate, are a few questions 
of the sort that could help to sharpen it. 

_ The bombings of Hiroshima an d Nagasa- 
ki cut short the war, and thus they may very 
well have prevented more deaths than they 
caused. {TTie conventional wisdom is affir- 
mative, although minority dissent persists.) 
But is that the point? Are all means justifi- 
able — torture of prisoners to obtain infor- 
mation. for one example — to diminish the 
likely casualty toll of one side for even both 
sides) in wartime? Of course not Weil, in 
which category are we going to put the 
nuclear bombing of cities: licit or illicit? 

• Long before World War U, Hitler main- 
tained in public that mastery of the skies 
fcould win a war quickly. By the time he lost 
ail hope of such mastery, massacre of civil- 


ian populations from the skies had become 
standard wartime practice. From Coventry 
to Nagasaki, via Dresden and so forth, the 
bombers bombed away. We have been re- 
minded lately that the conventional bomb- 
ing of Tokyo took more lives than the atom 
bombing of Hiroshima. Well, is a nuclear 
bomb really so unspeakably special, or is 
mass slaughter itself the issue? 

If Berlin or Tokyo or Moscow had had the 
bomb. Berlin or Tokyo or Moscow would 
presumably have used it Washington had it 
and used it End of debate? No. start of 
debate. The issue is whether anyone at all 
should use it Back to square one. 

But this last pseudo-argument (“They 
can’t blame me for doing what they would 
have done if they could”) points to another 
question. There cannot be many of us, what- 
ever our nationality or present persuasion, 
who would not have done as Truman did; a 
weapon that can put a victorious end to an 
atrocious war is a weapon crying out to be 
used. We are left with the possibility of 
saying simply: It was wrong but I mold 
have done it. And then the question — since 
the whole point of moral debate is to Uy 
somehow to make a better future — comes 
down to this: Well, should 1 do it again? 

INTERNATIONAL HERALD TRIBUNE. 


ay collapse before it gets too far down that road. 
The “peace process to which the US. State 
Department has committed itself involves bringing 
Israel on the one hand, and Jordan and the Pales- 
tinians on the other, to the negotiating table. 


recognize Israel's “right to erisL” This has always 
been the solution envisaged by the United Na- 


areas. It is these set t lements, in partic ular, t hat 
have provoked terrorism and counlatarorxno. 
Buz they involve, ' ' ’ t_ 

sand Israelis and 


Blame It AU * 


tions. For a long time it was the solution proposed 
— T - is still 


There, it is hoped, thw wiD arrive at a settlement of 
the future of the Wes 


rest Bank — or Judea and 
Samaria, as most Israelis now call it. 

Arriving at that table will not be easy. Israel is 


Department. But it is, by now, an anachronism. 
There is, to begin with, the problem of Jerusa- 



lem. The 1967 war, in which Jordan participated 
despite Israeli and American pleas to stay out, 
resulted in the Israeli acquisition, of East Jerusalem 

.1. _ uni i /l* m L-I. T VT— 


. accept Arabs woo, in its opin- 
ion, have links to the Palestine liberation Organi- 
zation. Jordan, however, cannot omit such Arabs 


— the “Old City” with its holy places. No Israeli 
twill ever — i 


Jordan cannot accept anything 
less than a return of the entire 
West Bank to Arab rule. 


pne e it is committed --along with all other Arab 
governments — to the thesis that the PLO is the 

' — i-s BOpIfc 

it the 


In addition, Jordan keeps suggesting 
Soviet Union be brought into the neg otiat i o ns. In 
Amman's view, that is the only way to nullify 
Syria’s a d aman t opposition to any such talks. But 


Overt Covert Deception 


When war comes, warned Senator Hiram 
Johnson in 1919, troth is the first casualty. The 
maxim applies to N icaragua Washington’s 
covert war there has filled a whole hospital 
— and yet more evasion and deception came 
to light just last week. 

: When it began in 1981, this war was de- 
scribed as strictly an internal affair. When CIA 
Complicity could no longer be denied, the 
administration explained that it was necessary 
(Jo cut off an alleged arms flow from leftist 
Nicaragua to El Salvador. That story began to 
totter in 1984 when Nicaragua's harbors were 
mined to scare away neutral dripping. Even 
(hat mining was falsely ascribed to “contra” 
rebels; its authors were North American. Then 
(Jame the infamous “contra” mannal, ghost- 
written by a CIA operative, counseling politi- 
cal murder. This ugly business, at first denied, 
was finally blamed on excess zeaL Next came 
tbescaiyreportthatSovietsh^werecanying 
high-performance MiGs to Nicaragua, a false 
&larm attributed to a faulty leak. 

• Now comes the news that for a year the 
6vert covert war has bees supervised by a 
military aide on the staff of the president's 
National Security CoundL The officer met 
frequently in Central America with rebel lead- 
ers, exerted “tactical influence” on their opera- 
tions and directed private donors to them. At 
the least, these responsibilities make him a 
coordinator; at the most, a field marshal. 

1 To understand why this news carries such a 
pungent odor, recall that Congress — the Re- 
publican Senate as well as me Democratic 
House — tried urgently to end covert U.S. 
management of this war. It ordered a cutoff 
last November of all CIA funding or involve- 
ment in the “contra" insurgency. 

That ban was partly lifted in June: While 


still 


to 


N! 


a CIA role, Congress ambivalently 
,7 milli on in “humanitarian aid,” 
eep the “contra" effort alive. Meanwhile, 
had already been shifted lothe 

so as I 


deaiability” of continued CIA involvement, as 
one insider explained to The New York Times. 

The preadaU insists that no laws have been 
broken. Ural is true, but only in the most 
technical sense. Congress said no to the secret 
war. To shift conduct of these activities to the 
NSC is a sty, even a cynical evasion. The 
arrangement, says Admiral Stansfield Turner, 
who was President Carter’s director of central 
intelligence, is “most i mp roper." 

A government that routinely deceives its 
people invariably winds up decaying itself. 
Does the White House know what is being 
done in the n«mi» of the United States in 
Nicaragua? Only last week an overzealons re- 
bel group seized and then released 29 UR. 
peace activists near the Costa Rican frontier. 

Ducking the truth about Nicaragua has be- 
come habituaL Witness the devastating mem- 
oir of a farmer “contra” leader, Mpr Cha- 
morro, in The New Republic Mr. Chamorro 
was recruited in 1982 by an American who 
daimed to speak “in the name of the United 
States.” He quit two years later feeling that 
he had been used and misled By Mr. Chamor- 
ro’s account, the rebel leadership was hand- 
picked by ihe CIA and coached in how to give 
deceptive testimony to Congress. He found 
that it “was standard ‘contra’ practice to loB 
Sandinist prisoners and collaborators,” a prac- 
tice he did his best to change 
What is most dismaying about all these 
deceptions is that they distract from die hard 
choices in doling with Managua’s provoew- 
tions. Instead of a reasoned case fra a plausible 
policy, the Reagan administration has c hosen 
to mask war with whoppers, all the while 
condemning the Sandinists as liars. 

The admin i str a tion intends now to move 
supervision of the secret war into the State 
Department, not for reasons of face hut of 
space. The bureau overseeing this White 
House war will be called — whai else? — the 
Agency for Humanitarian Ass is ta nc e. 

— THE NEW YORK TIMES. 


’s adamant opposition to any 
4 participation is utterly unsociable to both 
Israel and the United Stales, since it would open 
the door to all kinds of new mischief. 

So it is unlikely that the “peace process” will 
ever reach the stage where Israelis and Jordanians 
and Palestinians sit down and begin to negotiate. 
That is good news. For those negotiations, which 
would inevitably begin with much fanfare and high 
expectations, would certainly fail, leaving all of ns 
worse off than we woe before. 

The reason failure is so certain is that there is no 
ima ginable outcome that could be acceptable to 
both Israel and Jordan. Events have simply out- 
stripped the State Departments “peace process,” 
whom is based on assumptions developed many 
years ago. Those assumptions are no longer con- 
gruent with Middle East realities. 

The key assumption is that IsraehJotdaman 
negotiations will result in Israel exchanging terri- 
tory for a peace treaty, and that Jordan will then 


no matter what — return 
i portion of Jerusalem to Arab rule. No Jordani- 
an government, and do Palestinian body, will ever 
. —no matter what — recognize Jerusalem as Israe- 
li. There is amply no room far compromise here. 

One supposes that Israel and Jordan just might 
relegate the Jerusalem issue to some future agenda 
and proceed to the West Bank. But that 

discussion, too, would get nowhere. 

Far Jordan cannot accept anything less than a 
return of the entire West Bank to Arab rule; if h 
did, it would be universally denounced in the Arab 
world as a traitor to the Arab cause. At the same 
time, do Israeli government can possibly return the 
entire West Bank to Arab rule — for two reasons. 

The first has to do with military security. The so- 
called “high ground" of the West Bank — a Why, 
relatively thinly populated area with some 40,000 
Arabs, adjacent to Israel's narrow “waist” and 
constituting perhaps 15 percent of the West Bank 
— is almost universally accepted in Israel as an 
area over .which it must retain military controL 

After all, Jordan has always in the past joined in 
Arab wars against Israel, and “peace treaties" in 
the Arab world, even among Arab states, have 
never been taken too seriously by anyone. Such 
treaties come and go quite casually, while Israel's 
v ulnera ble geography is a permanent concern of 
the Israeli nation. Many “peace plans” have beat 
proposed by many Israelis of differing opinions. 
None that fails to continue Israeli military control 
of the “high ground” is t*kgn seriously. 

The second reason is even more important It 
concerns the future of Israeli “settlements” on the 
West Bank. These settlements have attracted much 
publicity, but it has been focused mainly on the 
relatively email encampments of religious and na- 
tionalist zealots in the midst of Arab-populated 


On America 

minority c# the Israel* public. They could indeed • 
be negotiated away, although not easly. _ M ~ » :.••.£? .,1 

The settlements that do count a re not resBy By rlora LwI. . 

“s«tlenjeals”at alLThcyarenewsubiKbs withm fHENS^ — Greece 7 * bead*** 
commuting ,dj*tooe d. fcne[s A dandvtxdarizedagfa.’ae 

Jerusalem, Td Aviv, Haifa — bat Jccatewiepsti- 
caIly,on the West Bant Hie largest sudtaasnb a 
just seven miles from the center of Jerusalem. 

These are ordinary Israeli towns, with plggaot 
garden apartments, supermarkets and a popula- 
tions that rides buses to work in the rarest IotcH 
city. These suburban towns were constructed, a 
areas where relatively few Arabs live, andnoihiag 

that harness in these places makes headl i ne s. 

Their total population, about 3(1000, is growing 
rapidly. The area they encompass am o unt s to 
another 10 to IS percent of the West Bank. 

So Israel has already annexed some adjacent 


already i_ __ 

areas of the West Bank. It is giving this territory (or 


have two coffee soaps — ooc 
wfiere supporters of Prime MattU? 
Andreas P&pandreqo’s SctiaStf gov- 
ernment gamer and ore for tte oppo- 
sition, so that they can dcaooace 
each other in friendly 
free of inhibition. 

The capital has two dialogues, 
within its own closed cartel Mem- 
bers of PASOK, the goremmefll par- 
ty, speak with exhilaration of dramat- 
ic fjwi y of newfound radeoea- 
iWg, although the facts haw beta 
modest so far. Members of New De- 


eco- 


bas already ghra it)aJn^majo^Nopo5&^ *e Opposition party an die 

patty or faction in land (except tte Conunmigts) a 

smug poopsi 
>nric dshfiegrai 
Ttarapee-oa 
at Turkey is ti 
her is that v 


wiD waste breath negotiating its status. 

Does anyone, tncmdfng the US. State Depart- 
ment, seriously thfrik that Jordan and the Palestin- 
ians fl pf rf d sit down and negotiate abbot Israeli 


military control of a significant pan of the West 
Bank? Does anyone seriously think that Jordan 


and the Palestinians could accept outright Israeli 
annexation (already accomplished de facto) of 10 
to 15 percent of the West Bank? 

Had Jordan and the Palestinians agreed to nego- 
tiate 10 years things mig ht have been differ- 
ent. Today their a gwina and the Israeli agenda 
have diverged dramatically. 

Why pursue negotiations that can only collapse 
into acrimony and even greater tension? 

The pi«h| truth is that, as thrnp now stand, 
there is no praranaking rede for the State Pcpart- 


one-party sate" 

Domic disnnegratiOL 

a a few things. One is 
that Turkey is the menace, and the 
other is that whatever they find 
wrong, it is really America’s fauh. 

The latest fittfcy scandal is over 
testimony of the and y 
US. ambassador. Robot * 


ment to play in the Middle East. It should wait and 
hand bet 


watch arid be patient. A peaceful se tt le men t of the 
Arab- Israeli dispute has eluded American policy 
for almost four decades now. All the evidence 
suggests that no kind of touring point is at band. 


The writer, a tenting conservative commentator, is 



A Hidden Budget Spring 


A Hit-and-Run Sideshow 
Produced in Washington 


By Mary McGrory 


-^yASHINGTON — Before 


malting definitive judgments 
about Nicaragua as a terrorist state 
— President Reagan pul it on bis 
list of international outlaws — con- 
sider testimony from Anne Liff- 
lander, 29, a New York doctor who 
spent two years in Nicaragua and 
survived a terrorist attack by the 
US. -sponsored “contras.” 

On July 23, Dr. Liffiander was on 
a ferry traveling the Escondido Riv- 
er from Rama to Bluefidds. a city 
on Nicaragua’s Atlantic coast, when 
gunfire hit the ship. “It was terri- 
ble," she says. “People threw them- 
selves cm the deck. They were 


inland crying and screaming. 


gray- 


the 15 min utes that followed, 
three rockets were fired. A govern- 
ment soldier, one of nine aboard, 
was shot in the face as be stood 
guard; he died two hours later. A 
civilian construction worker shot 
through die bead died that night 
Dr. Liffiander, a quiet round- 
faced 1980 graduate of the State 
University of New York, identified 
herself as a doctor to the military 


commander. Although shot in the 
arm; he refused treatment and di- 
rected her to minis ter to the civil- 
ians. A 9-year-ofd girl, shot in the 
went into shock. 

Liffiander had no instru- 
ments and made do with wbai fel- 
low passengers could provide as 
bandages from shirts or slips. In all, 
17 were injured, most by shrapnel 
Die boat made it to BJuenekls, 
where it was met by ambulances 
and ’such medical facilities as the 
dty'could provide. 

. Edta Pastora, a “contra” leader 
who has variously accepted and re- 
jected CIA aid, later look credit for 
the attack* citing the government 
soldiers on board. The boat was 
being guarded because of a previous 
attack on the ferry, which then had 
four soldiers aboard. 

Dr. Liffiander had decided to 
leave Nicaragua even before bullets 
flew over her head. After two years 
with a family in Managua and 
working in one of the dty*s bdow- 
par hospitals and in a pitiful health 
clinic provided by the Sandinists, 



sjOss. 

St ffiS" 


By CuRunlngi In tiw Wbmlpeo Frw Prase. CorfconW* & Writtrs SvpcfteoM. 


Did you ever really doubt it? The White 
House now acknowledges that the budget defi- 
cit is back on a track that, despite all of this 
summer's struggles with spending arts, will 
produce $200-billion deficits next year and the 
year after. It is asif the deficit wereon aspring. 
Wherever the estimates and forecasts begin, as 
time passes they snap back to $200 bflhon. 

The pattern has been repeated annually for 
the past four years. The latest cycle, over the 
past six months, began with the president's 
budget in February. It called for a deficit of 
JIS0 Union next year. Six months later, after a 
mighty struggle, Congress got it down to $172 
bOhon. Thai was a week ago. Now the Office 
of Management and Budget warns that the 
true figure is still in the range of $200 biUkxL 

The spending cuts — most of them, at any 
rate — are not fake. The chief source of the 
slippage is in the economic forecasts. In Feb- 
ruary the budget makers took a highly optimis- 
tic view of economic growth in 19S6. Currently 
the evidence indicates a much less rapid ex- 
pansion — meaning lower tax revenues. The 


White House says it also expects some upward 
revision of the deficit when appropriations 
bOIs overstep the limits that Congress has just 
set in its budget resolution. That is certainly 
posable, but the implication dial the deficits 
result from congressional refusal to follow the 
president’s budget proposals is incorrect. 

White House staff people want a budget 
next winter that pushes the deficit down in 
thrayears from4 percent of GNP to 3 percent 
to 2 perccaL Those are useful targets, but they 
are the same ones the staff tried to put in place 
a year ago. It turned out that Mr. Reagan was 
unwilling to make the choices required even to 
meet those goals on paper — even with those 
optimistic assumptions about the economy. 

The point of all this highly repetitive experi- 
ence is that a dangerously large structural 
deficit is not going to be remedied by fre kind 
of ma rginal fi ddling around tO which Mf. 
Reagan has limited himself since 1982. It is 
to take something more serious. like 
, to say it once more, a tax increase. 

— THE WASHINGTON POST. 



die derided she could do Nicara- 
guans more good by remming home 
to try to heal a sick policy. She plans 
to work part-time in a Washington 
dime and lobby on Capitol TfiO, 
under the aegis of Nicaragua Net- 
work, the liberal ami- contra” 
group headed by actor Ed Asner. 

Since June 12, when the House of 
Representatives gave way to presi- 
dential bullying and voted than $27 
miHi on in “h umanitarian” aid, the 
“contras” have grown bolder. 

In Dr. Lifflanderis Managua 
neighborhood, where she shared a 
home with Hden Salgado, divorced 
mother of two daughters, almost 
evay family has a son fighting at 
the tent, and “there are funerals all 
the time.” Grihan casualties are 
mounting. Eight women traveling to 
visit then sons in an army camp 
were lotted when “contras” at- 
tacked their bus. Seventeen people 


im 


were injured in what certainly 
sounds Ike a terrorist raid. 


When she returned to her Mana- 
gua home after her brash with the 
“contras” die expected a “heroine’s 
welcome,” but per s p e cti ve was im- 
mediately restored. A w oman in the 


I had lost her only son, 


her sole support. He was in a coffee- 
harvesting brigade that was at- 
tacked by “contras” who, after 
shooting it up, set fire to the brigp- 
rBstos' truck bearing wounded. 

Dr. I Jfflandgr 4o**T " O t tiimk that 
the “contras" will prevail- “You 
don’t win a military victory by kill- 
ing right women,* das says. She 
thinks the Njcaragnans will fight to 

S r their revolution. “Hden Sal- 
o was probably better off during 
Somoza years. It was easier for 
her to get hair dye and eyebrow 
make&p and spare parts for her car. 
But she remembers the Somozistas 
and the raping and looting that 
went on in her neighborhood, and 
die doesn’t want to go baric.” 

The doctor is one of 25,000 
Americans who have spent time in 
Nicaragua to give a hand to the 
Sandinists. She wiD be urging stu- 
dents to stay in the United States to 
try to change the Reagan policy. 
“There is so much misrafonna-. 

here. I don’t'understand wh^mf 
grass buys all this emotional non- 
sense from the president Fm an 
internist not a psychiatrist" 

Washington Post Writers Group. 


at Se»«Te confirmation hearings, 
hoped for “better relations’* cc a 
“more equal” baas than the “efieat- 
patron” fink of the postwar period. 

The government spokesmen 
jumped on the phrase; saying it 
showed that America had. admit ted 
that previous Greek governments 
were servile. The opposition 
screamed, saying it was a tarty blow 
by Washington to curry favor with 
Mr. Papandreou so as to keep US 
bases, f lading figures in New De- 
mocracy argued among tbemsehes 
about whether they should “ngecT 
Mr. Kedey for insulting their reconl- 

Tbe fuss is reaBy a reflection at 
how TT^M-h America stffl matters to 
tins country, whether as scapego at or 
protector. Most Greeks name ihe 
United Stales for the seven years of 
dictatorship following the 1967 colo- 
nels’ coup, and for not preventing the 
1974 Turkish invasion of Cyprus. 

Some emotional officials even 
riaim that the United States has not 
fulfilled obligations in return far 
Greece’s part m World War ZL Such 
righteous extravagance is accompar 
mod by angry denials that anything 
Mr. Papandroju has sad about the 
United States could be considered 
“anti-American.” 

Nobody pretends to hare a dear 
idea of Mr. Papandreoo’s intentions 
dow that he has been re-riccted for a 
second four-year tenn. He has vowed 
not to give aqy more interviews, 
which leaves dungs murky but may 
not be a bad idea given his propensity 
far casual provocation. 

But the government has toned 
down its America-bashing stance: 
Foreign policy was not a major issue 
in the recent campaign, althongfr 


there is a lingering chance thy 
Papandreon’s tactics have made the 


wodd give Greece more of its due 
attention and re spect. ■ 

The trouble is that this does not 
address the main problem, which is 
the serioutiy deteriorating economy. 
Greece is liidy soon to become one 
of those countries obliged to creep 
under the stern tutdaap of the Inter- 
national Monetary Fond. That wffl 
renew the dBemma of whether to re- 
lieve feelings by more anri-U-S. rhet- 
oric or try to convince those phan- 
toms called “international bankers” 
that Greece is still a good bet 
Among the people who love to talk 
politics, there is an atmosphere of an 
impending watershed, of a moment 
just ahead that will deter- 





’ 


o; •* 


bsrJ s tnMvi 




h 


K Voters Won’t Swear Off, Try Cutting Off Bolivia 


mine the country's fate. But it seems 
artifiriaL The impression is more one 
of groping and bumbling on the long 
road rif transforming a backward, ru- 
ral economy and archaic paternal 
politics into a modern state 

Hden Vlachos, the outspoken, 
daunriess editor who sassed the coto- 
nds* regime idendessly and now 
gives Mr. Papandreou similar treat- 
ment, says flatly: “I am free to say 
whatever I wank But [those in power] 
are equally free to ignore me totally. 
So there is no democracy." 

By that she means lack of effort 
to seek consensus and compromise, 
brightening polarization between ins 
and outs ana increasing {xrihiazatioa 
of state services that ought to be 


To L(*f i \ j 


if. il 




>r 


•yyASHINGTON — He can hit. 


FROMOURAUG. 12 PAGES, 75 AND 50 TEARS AGO 


1910: TaftJsUjged to Drop Ballinger 1935; Japan’s Army Defends Deficits 


NEW YORK — Richard A. 
lary of the Interior, is the 


i pdi 

demanded by men backing the 


r, Secre- 
saoifice 
: Taft Adminis- 
tration, so (hat Theodore Roosevelt shall not 
again occupy the White House. Trouble be- 
tween Mr. Ballinger and Gifford Pinchot, head 
of ihe Forest Service, began eariy in the Taft 
Administration. James R. Garfield, Secretary 
of the Interior under Roosevelt, withdrew 
677,000 acres of public lands. When Mr. Bal- 
linger became Secretary he rescinded the ac- 
tion. Mr. Pinchot began attacks on Mr. Bal- 
linger. President Taft later dismissed Mr. 
Pinchoi. Opponents of Mr, Ballinger have de- 
clared (hat [land conservation] has not been 
fostered as it was under Roosevelt 


PARIS — The opening of th6 Japanese Army’s 
annual campaign for bigger military appropri- 
ations — for popular support of the principle 
of “ armamen ts first" as war Minister Haya- 
sM puts it — has brought an interesting antici- 
pation of criticism. Without waiting for the 
bankers and industrialists to complain that 
heavier military expenditures mean another, 
and bigger issue of “deficit bonds,” a “certain 
section of the community” (which, of course, 
means the military) has been telling Mr.Taka- 
hashi, the Finance Minister, that the govern- 
ment’s loan polity is too cautious for the 
public good. The army’s economists inast that 
the deficit can be piled up indefinitely without 
financial embarrassment to the nation. 


be can steal, he can turn the 
double play. And he suffers, he told 
the press, from “a disease called 
chemical dependency." That is Alan 
Wiggins, erstwhile Baltimore Orioles 
second baseman, explaining his re- 
cent suspension from baseball for 
treatment of cocaine addiction. 

“It’s a disease. It’s not a moral 
issue. It took me a while to learn that 
for mysdf.” One has the distinct im- 


By Charles Krauthammer 


achievement. Bui this does make for 
a pedagogical problem. 

A few years ago cocaine was due. 
Now it is rind to be an ex-cocaine 
user. This is certainly progress, bat 
still not a terribly good example for 
kids, since you nave to get through 
the first to achieve the second. 

The medical model — the user as 
victim — makes for more than bad 


The result is $uppty‘&de drug control, aimed 
especially at the pusher with poor fjigftgA. 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY, Chairman 1958-1982 


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Eienane Editor REN& BONDY 

Ednr ALAIN LECOUR „ „ 

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srsr 


si on that Mr. Wiggins did not 
it for himself but had to be 
taught the new dispensation. 

What he picked up is more than a 
euphemism. It is now conventional 
wisdom. Drug abuse has been elevat- 
ed, if that is the right word, to the 
status of a disease: 

This is a polite fiction which. Eke 
other forms of politeness, has a hu- 
mane purpose: m the present case, to 
make thing s easier on the sufferer. It 
assures him that- he is not to blame. 
He is a victim, and victims are ab- 
solved of reaxmabOitY for their con- 
dition. We ao not hold someone re- 
sponsible for his colon cancer. We 
once held him responsible for his 


ding abuse. How now to reproach 
someone stricken with “a disease 


called chemical dependency?" 

The abuser gels more than a wink. 
If he follows the rules be gets a pat on 
the back. The repentant cocainer just 
graduated from the Beit> Ford Cen- 
ter or back from a Mint in an English 
iaiL is accorded j ceruin celebrity. 
Fine. Overcoming addiction i-> hard 
.mJ one Jin> not turn to di'mtss ihe 


It makes for bad policy. If 
drug abuse is not the consumer’s 
fault, then it must be the producer’s. 
Where then to fight drug abase? In 
Peru and Bolivia, or as far away from 
North American shores as possible. 

The result is supply-side drug con- 
trol aimed especially at the pusher 
with poor English. The House of 
Representatives is moving smartly on 
this front It voted last month to cut 
off aid to Bolivia and Peru unless 
they cut back on coca production. 

It happens that Bolivia and Peru 
are perhaps the two most fragile de- 
mocracies in the Western Hemi- 
sphere. Bolivia, home to 185 military 
coups in }40 years, has just sworn in a 
rarity: an elected preadenL Peru, • 
fighting off the most barbaric bunch 
of woolly (“Shining Path”) revolu- 
tionaries this side of Pol Pot swore in 
its newJv elected president on July 28. 

The House is not daunted. It ap- 
proved Representative Charles Ran- 
gel's proposed aid cutoff anyway. It 
will bolilK impoverish a fnendK 
coumn and undermine it> dcniiwra- 
c% fur — w.h.ifM.W, j secure. The 


cutoff is guaranteed to achieve noth- 
ing. Sow down cocaine production in 
Bolivia and Peru, and it starts op in 
other areas, Eke Ecuador and the 
Amazon basin, where Brazilians are 
now cultivating a small coca-produc- 
ing tree called the epadu. What then? 
Cut off Brazil and Ecuador? 

The Rangel idea does strive the 
perennial dilemma about who should 
get foreign aid. By his logic; only one 
regime in the hemisphere is deserv- 
ing, because only one country is free 
of the drug trade. General Pinochet 
win be pleased with the news. 

Let’s lace facts. We live in & market 
economy where demand finds sup- 


House of Representatives really be- 
lieves its own hyperbole — that drug 
abuse is a calamity that threatens 
“productivity, public health, educa- 
tion ... ana national security” — 
then the drug user, who collaborates 
in creating this calamity, deserves 
some social sanction, too. At least as 
much, say, as the drunk driver. 

Why that don't the politicians 
push for strictly enforced penalties 
for drag use? Because Americans like 
tbdr drags. And they vote. Bolivians 
don’t vote for the U.S. Congress. If 
the House has its way, they wall not 
vote very much longer for their own 
government, either. 

Washington Post Writers Group. 


nonpartisan but have always been 
linked in some degree to patronage. 

In the circumstances, there is not 
much America can or should da 
There is no reason to swallow insults, 
and no reason to panic At tirostagft 
whatever the United States does, it is 
likely to hear from Greeks that what 
goes wrong is all America’s fault. 

The New York Tunes. 


Letters intended for publication 
should be addressed “ Letters to the 
Editor” and must contain the writ- 
er's signature, name and fid! ad- 
dress. Letters should be brief and 
ok subject to editing. We cannot 
be responsible for the return, of 
unsolicited manuscripts. 


jriy. Why should drugs be different? 


you stamp oat coca production in 
the Andes it will migrate, as h is 
— ' ‘ P to the Amazon and else- 


LETTERS TO THE EDITOR 


ou don’t attack a drug prob- 
jflL It can 


lem with a foreign aid b3L 
make you fed good, and destroy a 
few democracies in the process, but it 
won’t solve the problem. 

The narcotics problem >vgfac at 
id Pei 


home. “Bolivia and Peru most under- 
stand,” Representative Range! thun- 
ders, “that as a nation we are serious 
about narcotics controL” Trouble is, 
Beveriy Hills and the Bronx don’t 
believe the nation is serious. And who 
can blame them, so long as Ameri- 
cans pretend that the user is whim? 
innocent victim either erf nefarious 
Latins or of Wiggins' disease? 

What drug abuse has lost is the 
social stigma — still the best policing 
agent for “victimless” behaviors — 
that it enjoyed, say. 30 years ago. 
Restoring rtiai stigma will require a 
little plain speaking. We u»uk! »un 
»uh a muraiitnum vn 

And ini mfamiii/jne thcihcr. It die 


Pearl Harbor and So On 

In response to tite repot “ Hiroshima 
Marks Day of Devastation" (Aug 7): 

I don'txecaii Prime Minister Naka- 
sone pledging that there will never be 
another Pearl Harbor. Do l 
observe a minute of sflence cm Dec, 7, 
(Ire anniversary of the attack? If it did 
not kill 138,690 unsuspecting Ameri- 
cans, it was not for lack of trying. 

BARBARA UGON. 

Orgeval France. 

In response to the report “Soviet WW 
Halt Nuclear Testing 5 Months; US 
Invites Observers” (Jok 30): 

When Mikhail Gorbachev inter- 
rupts nuclear tests. Ronald Reagan 
invites (he Russians to come and 
monitor a U.5. leM. Wjfl America 
remain un-suidtoi with iti niklcar 
prime*' rR*ief«:i:t*!.\" #hie u.ntid 
think ih.il flu- a;\: aS.,;\ 


to blow our planet to Inis would be 
the aid of the Why must anni- 
hilation be endlessly fine-tuned? : 
FLORiS NICO BUNINK. 

Amsterdam. 


Europe Preceded 1945 


2a his assessment of the He&afc 
accords CFor the Russians. Idefor 
Victories,” Aug 3), Ridiard “ 
calls “astonishing" the afft 
contained in the Fins) Act, 
democracies and the countries 
posed to them share a common 
ry and heritage. Would he 
tiie Germans and the Pole 
French and the Romanians 
(ain traditions and values ts 
num'.’ When does his history 
rope begin — :n IW 1 
io he m his lifeiorv V i.iv> 

III RBI Rf- 



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INTERNATIONAL HERALD TRIBUNK, MONDAY, AUGUST 12, 1985 


Under Siege From Both Friend and Foe 


Page 5 


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by toad sod S 
^ proi ^^ ? aa ^ sts «9 f 

ArabSSl^ 
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- - ™« xadieai Arab 

. attend. But aftsrtoro da™ 

TOS PaauSle 

^ offer HbS£ 

*an a statement *at they 

, S23?-— “*»»■ »**h an Arab peace plan 
That plan vntnaDy dropped from sight 


SU ^ pttrt out ^ e 

Hussein, whose nation could fflafford 
tae ldnd of isolation in the Arab world 
suffered by Egypt .after it signed the Camp 

: ' " NEWS ANALYSIS : . 

David accords, has tried carefully to shore 
op wider Arab support for the plan ever 
since be outlined it tn November 1984. 

. .Both he and Mr. Arafat, who signed a 
jomt-actioa plan in February for. peace 
with Israel, have traveled cxtensivdy m the 
region to zxphm ii to other leaden and 
attempt to gain their .Nesting. 

Why^uch redeems at the summit meet- 
ing? The explanation riven Saturday at a 
press conference by King Hassan II of' 
Morocco, the host of the meeting, was that, 
despite hopes raised by. the Jordaman-PLO 
plan, it has yet to show concrete results. 

Other Arab officials, maifiwg the same 
pcSn't Friday, Warned tteUnited States for 
not meeting with a joint delegation of Jor- 
danian officials and members appointed 


by the FLO, whose names were submitted 
to Washington a month ago. 

' But Washington has been slow to move 
partly because it does not want to gel out 
too far ahead of Israel in the process. U.S. 
officials insis t that their objective is to 
facilitate direct wits between Israel and a 
Jordanian-Palesdnian delegation. There is 
ao sense, they sot, in meeting with people 
Israel will not talk to. 

As a result, direct contact with the PLO 
still is ruled out by Washington while the 
Arab League members represented at the 
summit meeting reiterated strongly that 
the PLO is the only legitimate representa- 
tive of the Pales tinians. 

. The more moderate Arab leaders have 
tried to show that they are wining to talk 
reasonably as long as certain fundamental 
questions are addressed. 

Hassan, who is pres dent of the Arab 
League, said Saturday that he would invite 
Israeli leaders to Morocco to discuss any 
peace plan they might offer that would 
return the occupied territories and recog- 
nize the right of the P alestinian people to 
self-determination. 


Bui Israel, with a coalition government 
facing a desperately shaky economy and 
growing anger over attacks on Jewish set- 
tlers in the West Bank, has shown little 
interest in exerting efforts to find diplo- 
matic breakthroughs. 

Instead, public debate there recently to- 
cased on whether to attack Palestinian 
ba yat is Jordan. The idea, originally sug- 
gested by Arid Sharon, a cabinet member 
from the rightist Likud bloc and architect 
of the 1982 invasion of Lebanon, was dis- 
missed by Prime Minister Shimon Peres of 
ihe Labor Party. 

But Hassan warned Saturday, neverthe- 
less, that “if Israel does this it will be the 
greatest folly." 

“Jordan is a responsible country” he 
added, “and has friends in the world who 
won't permit it to be him." 

Another element weighing strongly 
against an endorsement of the Jordanian- 
PLO plan at the summit meeting in Moroc- 
co was Syria’s opposition. 

While about half of the 2 1 Arab League 
members were represented by their leaders 
some, including Saudi Arabia, Iraq and 


Sudan, sent lower-ranking officials. But 
Syria, which strongly opposed the conven- 
ing of the summit meeting, boycotted it, 
along with Libya, Algeria, Sooth Yemen 
and Lebanon. 

Most of those who attended, however, 
seemed to feel Syria’s presence almost as 
strongly as if ii were represented. 

Syria argues that there can be no settle- 
ment with Israel until there is a strategic 
balance that forces it to rive up the occu- 
pied territories in exchange for peace. Sev- 
eral delegation members privately ex- 
pressed sympathy with this view. 

But even those who disagree with Syria 
appeared clearly aware erf the country’s 
abuicy to retaliate against those who op- 
pose it. Few Arab leaders are willing to risk 
the wrath of President Hafez fll-Assad by 
openly endorsing measures that oppose his 
policies. 

In this context of a combination of inac- 
tion by his friends and in timi dation by his 
enemies, Hussein reportedly has decided to 
take a brief vacation, waiting to see if one 
side or another can give him and the joint 
initiative the support they need. 








ofjordan during the Arab summit meeting in Casablanca. 









^ * * . v* j 

V A r 

*■ •*-' • '* ■' 





Franjieh Appeals to Christian Clans 
To Unite as Dominance Is Challenge 


Israel Debates Arab Contact in Schools 



practice of deporting Arabs accused of hostilities. 


Israeli Stubbed on West Bank 


NewYark TunaSernce.- 
JERUSALEM^- An Israeli was 
stabbed over the weekend as he 
walked past the Azab marketptece. 
in Hebron, in the occupied West 
Bank. Ii appeared:#) be another in 
a series, of attacks against individ- 
ual Jews and Arabs. 

An army spokesman said Yaa- 
cov Ratter, 46;' from the Jewish 
settlement of Kiiyai Arba outade 
Hebron,' was takai to a Jerusal em 
hospital in satis&Ctojy condition 
after two attackers stabbed him in 
the neck and bade on- Saturday. 

Military, sources said they sus- 
pected the attackers were Arabs 
and that they had detained several 
persons for q u esti onin g. 

The Khyat Arba settlement’s 


leader, Elyakim Raetzni, was 
quoted by lsraeti radio as blunting 
Defense Minister Yitzhak Rabin 
for the attack. He said the minister 
had “failed to ensure order” in the 
West Bank and was responsible for 
“releasing terrorists” in last May’s 
prisoner exchange of three Israelis 
tor 1,150 Palestinians. 

- The Israeli cabinet announced 
recently tot h was reviving several 
security measures to cqpc with the 
rise in Arab violence against Jews. 
They indude deportation of Arabs 
snspected of hostile actions, deten- 
tion f or up to six months without 
-trial for anyone suspected of incite- 
ment or terrorist activities, and the 
dosing of Arab newspapers that 
violate military censorship. 


By Nora Boustany 

Washington Past Service 

EHDEN, Lebanon — A new 
mood of condtianon appears to be 
surfacing among Christians in the 
mountainous north erf Lebanon, 
where fends are traditionally more 
common than compromise. 

The feudal clans seem deter- 
mined to turn away from memories 
of slaughters by rival Christian mi- 
litias and seek solidarity with other 
Christians, who now see themselves 
threatened with the loss of their 
political domination of Lebanon. 

“I think it is time for ns to com- 
municate because the Christians 
need to be strong,’’ said Bntros 
Franjieh, 18, whose father, mother 
and mother were dain in the June 
13, 1978, raid on Ehden by a rival 
Christian faction. 

Also killed that night was Tony 
Franjieh, son of the dan patriarch, 
S uleiman Franjieh, a former presi- 
dent of Lebanon. Tony Franjieh’s 
wife and baby daughter also died. 

In a recent interview at his sum- 
mer residence in Ehden, Suleiman 
Franjieh expressed a desire for for- 
giveness ami said, “I am ready for 
any sacrifices if it brings people 
hade to their consciences.” 

He said be regards Israel as the 
cause of most of Lebanon's prob- 
lems and said he could not work 
with Lebanese who are still linke d 
to that country. 

Last week, a coalition of Moslem 
and mostly Grade. Orthodox Chris- 
tian opposition leaders met in the 
central Lebanese town of Chtaura 
to proclaim the formation of a pro- 
Synan National Unity Front The 
group denounced the trend to par- 
tition of the country and urged an 
end to tiie allocation of political 
offices and legislative power ao 
carding to itEgtous affiliation. 

The presdency, Lebanon’s top 
executive post, always goes to a 
member of the Mararate Catholics, 
the country’s largest Christian 
groiq>- The prime nnmstefs post 
goes to a Sunni Moslem and the 
office of house speaker to a Shiite 
Moslem. The army’s commander in 
chief, the chief of military intelli- 
gence and the governor of the cen- 
tral bank arc also Mammies. 

The language of the Syrian-spon- 
sored Chtaura declaration was 
mQd, but its intent was dear: The 
days of Maranite supremacy are 



Suleiman Franjieh 

over. Mr. Franjieh did not attend 
the meeting and sent no one to 
represent hwn, and most Maronites 
boycotted the conference. 

The wish to protect their remain- 
ing privileges has propelled Chris- 
tians coward a forced solidarity, 
but they are not rallying behind 
Amin Gemayd, the country’s Mar- 
onite president. Mr. Gemayei is in- 
creasingly isolated from both the 
Christians, who regard him as inef- 
fectual, and from the Moslems, 
who doubt he can introduce re- 
forms that will reduce the political 
influence of his own group. 

Mr. Franjieh has repeatedly 
called Mr. Gemayei a “sick head 
that must fail," but he is not among 
the Gemayei critics who want both 
to unseat the president and to 
change radically the Lebanese gov- 
erning formula. 

Mr. Franjieh was president in 
1975, when Lebanon’s rivil war pit- 
ted Moslems against Christians in a 
sectarian conflict fueled by discord 
over the governing formula that fa- 
vors the Christian minority.. 

“To have the president from a 
sect other than the Maronites 
would be racing ahead erf reality,” 
Mr. Franjieh said. 

His approach to changes in ibe 
Lebanese system remains conser- 
vative despite his dislike of Mr. 
Gemayei and Mr. GemayeTs dose- ' 
□ess to Syria, which has backed 
Moslem demands for a more bal- 
anced distribution of power. Chris- 1 


To EcCTitj a Paradox Inspires Hope 

Ex-Turkish Leader Sees New Spirit in Undemocratic Climate On Airline Bus 

. y as srsr 1 “ jsasss 

New reek firna SerHce called mme po- coup. men held about 40 Christian ante 

ANKARA — Bulent Eoevit, a powers and more restrictive “I was disturbed by the elitist passengers hostage in Beirut f 

former prime minister who has ^ labor unions and coopera- traditions of my former party, al- three and half hours Sunday as tb 

been banned from politics since the Mr. Ecevit said there emerged though emotionally and iniellec- demanded the releap of a Mask 

military coup of 1980, says the spir- a freer atmosphere.. tuaDy I was deeply attached to it.” who was todnappai, the chairm; 

it of democracy is gaining in Tur- -pressures on the press contin- Mr. Ecevit said “This elitist and of Middle East Airimes, Sdim S 
key despite what he termed an un- n\e- Ecevft said, Tnit, after alL mteflectnriattumJeisnotconiMtt- la^said. 

Mr. Ecevit said *P l^f^Hn^nuhtic 6 ^ 0 ^ They mustnot expect anything Beirut airport after he made co 

sented a paradox: “Before the mit turns of the readmg pubhe. S aS)« wytxStT tacts “withthe people concerned 

taiy intervention, m many ways “Hus is encouraging, he said, j. EceviL said chat the Ozal The two gunmen were seeking ti 

there were ample constiumonal “because for thefirat time democ- K0vcnunajl offered “ihe window release of Mustapba Hamadeh, 
guarantees for democracy ana tree- revolving from lDebottom.it and paraphernalia of insti- Shiite held by militiamen in Qm 

dom. Yet we felt a lack of deep- bad been the cuaom m Turiccy for democracy/* but said it tian-dominated East Beirut, M 

tooted democracy- rights and freedoms to be given was rimiiar to Easuan European Salem said. He said he did n 

“ivtow it’s iust the opposite,” he from above." “people’s democracies." know whether Mr. Hamadeh In 

rtwrirmLt “Constitutional and in- Mr. Ecevit, 60, added quickly He called Mr. Ozal the deverest been released, 

ctifaitional guarantees for democra- dial he was not praising the Qal of the new generation of potiti- Thcpssseo&is, mdnding wor 
mst anymore, but the Bovamment fra - storing popular de- dans, but one. used to governing m raattocMdremh^beentravehi 
frran acramulated moczacy. If-'peopte Sad effective circumstances that have made it m two of the airlines bases win 
democracy have aD channels of expresaou, danoaBcy too easy tor him to have his way. they were stopped al a chainra 

co ssxrt them- could develop more qniddy, he -Now, who) Ibe pepper wOl is near the^«£ m the a^sifc 
j n^^Tand the Deople said. beemniag to be expressed through lem-controlfcd western sector, M 

SSSffia" ^though the. ban on poUtical Sang mflitary Sakmsaii 

have become more .J^nSwnts him from beoam- Kepe," Mr. Ecevu said, “he gels Separately, a Lebanese offiaal< 

Mr. Ecevit, a poet invoheduntil 1992, Mr. and frustrated." toeKuwatt Embassy _lddnapped; 

who was prime minister regarded as the He said he was “optimistic for Wert tout a montii aw was r 
rimes, said *e turning pomj Miind the budding the future, not because of the atu- teased Smiday. Wajed Ahm« 

the 1983 decti<ML^® ca T 1 ^ 1 Left Party, whose like- tude d the ohgarahy ic pon^r bal Doonjam, 55, said he had amval 

tol was chosen prime' mwi*. ^ wife, Rahsan. The because of the dal way m wiudi bx home mWM Bomtoi foi 

Mr Ecevit described ^9°^; of the new group means the people cratmne to enlarge ihe aft® being dnven to a nearby stra 


elections represented a transition 
hack to democracy. 

Despite what he called more po- 
lice powers and more restrictive 
laws on labor unions and coopera- 
tives, Mr. Ecevit said there emerged 
a freer atmosphere.. 

“Pressures on the press contin- 
ue,” Mr. Ecevit said, “but, after all, 
the papers have to sdL They have 
to take into account the expocta- 
tions of the reading pubhe. 

"Ibis is encouraging," he said, 

“because fear the (nit tune democ- 
racy is evolving from the bottom. It 
had been the outran in Turkey for 
rights and freedoms to be given 
from above." 

Mr. Ecevit, 60, added quickly 
that he was not praising the Gzal 


S^T-if^^d'effective 
channels of expression, democracy 
could develop more quickly,” he 
said. 

Although the. ban on political 
activity prevents him from beoam- 
ing openly involved until 1992, Mr. 
Eawrt is widely regarded as the 
gmditig spirit behind the budding 
gSoSatic Left Party.whose Ete- 
w i etkker is his wife, R ahs a n . The 
formation of the new grow means 
a craapl^on of his gradual break 


with the Republican 'People’ s Par- 
ty, which he led from 1966 until the 
coup. 

“I was disturbed by the elitist 
traditions of my former party, al- 
though emotionally and intHleo 
tuaDy I was demlyattached to it,” 
Mr. Ecevit said. t Tbis elitist and 
mteflectualattirudeKii^ 

ble with social democracy. The 
working people must take the lead. 
They must not expect anything 
from above anymore.” 

Mr. EceviL said that the Ozal 
government offered “ihe window 
dressing and paraphernalia of insti- 
tutional democracy,” but said it 
was qmilgr to Easem European 
“people’s democracies.” 

He called Mr. Ozal the deverest 
of the new generation of politi- 
cians, but one used to governing in 
circumstances dial have made it 
too easy tor him to have his way. 

“Now, who) the popular win is 
beginning to be expressed through 
the breaking down of the military 
r egime, " Mr. Ecevit said, “he gets 
nervous and frustrated." 

He said he was “optimistic for 
the future, not because of the atti- 
tude of the oligarchy in power but 
because of the sfletit way in which 
the people continue to enlarge the 


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dans hold a 6-5 edge in the parlia- 
ment. 

Commenting on Shiite demands 
to have the president elected by a 
popular rather ihan a parliamenta- 
ry vote, to accommodate the grow- 
ing number of Lebanon's Shiites, 
woo number one million, Mr. 
Franjidi said, “No tree Lebanese 
politician would make such a re- 
quest” 

Mr. Franjieh said that some of 
the points raised in Chtaura were 
valid but that they should be com- 
bined with dements raised in a 
“constitutional document” he 
drafted in 1976 with Syrian ap- 
proval. A key point then was a caD 
for a 50-50 representation of Mos- 
lems and Christians in parliament 

On Shiite Moslem demands tor a 
greater share in Lebanon's deri- 
sion-making establishment, Mr. 
Franjieh said, “Naturally, man will 
ask for what he wishes. But what 
they are asking for should be bared 
on a right that is not theirs alone or 
the property of a specific region. 
Every area, every religious group in 
Lebanon has the same rights.” 

The Shiites, who live mostly in 
the south, complain of neglect and 
scarce village-development funds. 

Mr. Franjieh said all Lebanese 
villages received all the services the 
state provides. 

But the wdl-paved wide high- 
ways leading to the mountain re- 
sort of Ehden contrast with the 
poihded and tattered road net- 
work in southern Lebanon. 


By William Claiborne 

Washington Post Service 

JERUSALEM —A proposed 
ban on meetings between Jewish 
and Arab pupils in state religious 
schools to prevent intermarriage 
has touched off a controversy 
between Israel’s religious and 
secular communities. 

Education Minister Yitzhak 
Navon has asked the director of 
the religious education division, 
Yacov Hadani, not to distribute 
a directive forbidding Jewish- 
Arab contacts during the coming 
school year because the ministry 
Is trying to encourage such meet- 
ings in public schools. 

However, the Chief Rabbinate 
has come out in opposition to 
Jewish- Arab meetings in schools, 
and Interior Minister Yitzhak 
Peretz has joined the battle by 
dedaring, “If we look at Jewish 
history, the greatest danger to 
the Jewish people in all genera- 
tions has been assimilation.” 
Mr. Navon said his ministry 
would continue a program in sec- 
ular public schools to foster co- 
existence between Arabs and 
Jews and to combat racism, but 
added that he was aware of spe- 
cial requirements in religious 
schools to avoid violation of or- 
thodox Jewish rituaL 
An Education Ministry 
spokeswoman said that Israeli 
law makes religious education 
independent of ministry direc- 
tives, and that Mr. Hadani was 
appointed by the cabinet, not by 
Mr. Navon. Mr. Hadani can only 
make recommendations about 
religious education, she said. 


She added that only a quarter 
of Israel’s schoolchildren are in 
stale religious schools and that 
“it is more important that 75 

TThe greatest 
danger to the 
Jewish people in 
all generations 
has been 
assimilation.’ 

Yitzhak Peretz 
Interior minister 

percent erf the students will still 
have the meetings with Arab stu- 
dents." 

Mr. Navon said that he had no 
intention of changing the law 
giving independence to the reli- 
gious education divirion of the 
ministry. He said be had reached 
agreement with Mr. Hadani, 
however, and that the Arab- Jew- 
ish meetings would continue. 

Under a compromise proposal 
made by the rabbinate, Jewish 
and Moslem students would not 
be permitted to eat together, and 
boys and girls of the two faiths 
'would not be allowed to meet 
Instead, Jewish and Arab pupils 
of the mme sex would work to- 
gether on projects such as plant- 
ing trees. 

Mr. Hadani said that religious 
schools would encourage Arab- 


Jewish coexistence “by teaching 
our students to respect gentiles 
and grant them their full rights,’’ 
but he also said that orthodox 
Jews and Moslem religious lead- 
ers shared his concern about in- 
termarriage- 

In a state radio interview, Mr. 
Hadani said that when Jewish 
students reach a less impression- 
able age, about 18, be had no 
objections to meetings with Ar- 
abs “on an intellectual level.” 

Disclosure of Mr. Hadani’s di- 
rective prompted a storm of criti- 
cism by libera] members of the 
Knesset, Israel's parliament, 
some of whom asserted in (de- 
grams that the derision reflected 
the views of Rabbi Mezr Kahane. 
Mr. Kahane is a member of the 
Knesset and the leader of the 
Koch party, which advocates the 
expulsion of all Arabs from Isra- 
el and the occupied territories. 

The Institute for Education 
for Coexistence Between Jews 
and Arabs, in a letter to Mr. 
Navon, said that Jewish- Arab in- 
termarriage IS a “very mar ginal 
phenomenon in Israeli society 
and among religious Jews ap- 
proaches zero." 

The government Central Bu- 
reau of Statistics said that it had 
no figures on intermarriage, but 
Alouph Hareven of the Van Leer 
Jerusalem Foundation, which 
has organized a program to im- 
prove Jewish-Arab relations 
through education, estimated 
that smee the founding of Israel 
in 1948 there have been only 
about 300 such marriages, or 
slightly mare than 10 a year. 


WHY THE OWNER 
OF A EATER PHILIPPE 
HAS MORE 

THAN JUST MONEY’S WORTH. 


Reuters j 

BEIRUT — Shiite Moslem gun- . 
men held about 40 Christian airline 
passengers hostage in Beirut for 
three and half horns Sunday as they | 
demanded the release of a Moslem i 
who was kidnapped, the chairman 
of Middle East Airlines, Selim Sa- 
!am,sakL 

He said the passengers were 
freed unharmed from hideouts near 
Beirut airport after he made con- 
tacts “with the people concerned.” 
The two gunmen were seeking the 
release of Mustapha Hamadeh, a 
Shiite held by mihtiamea in Chris- 
tian-dominated East Beirut, Mr. 
Salam said. He said he did not 
know whether Mr. Hamadeh had 
beat released. 

The passengers, indndmg wom- 
en and children, had bon travding 
in two of the airline's bases when 
they were stopped at a checkpoint 
near the airport in the city’s Mos- 
lem-cOTtrolfcd western sector, Mr. 
Snlam caiH 

Separately, a Lebanese official of 
the Kuwah Embassy kidnapped in 
West Beirut a month ago was re- 
leased Simday. Wajed Ahmed 
Doumani, 55, said he had anivedat 
his home in West Beirut on foot 
after being driven to a nearby street 
by his captors. 


Nautilus. 

A Patek Philippe is 
for its owner, the real 

money. 

The Nautilus model illus- j 
nine months to manufacture. J 
outstanding addition to the m 
hundred pieces only, each M 
Phtient hands of mas- jp 
the movement to near Jgji 
and minute screw is in- 
millimetre. jpjfcj 

In the men’s Nauti- 5 
mum winding efficien- 29 
In the ladies’ Nau- SRll 




K e costliest watch to make. But 
ue goes beyond the question of 

d here requires, on average, 
lerefore not surprising that this 
‘hilippe range is limited to a few 

hmakers finish each part of 
a. Every wheel, pinion, pivot 
dividually crafted to a hundredth of a 



In the men’s Nauti- lus a solid 18 ct. gold rotor ensures maxi- 
mum winding efficien- cy. 

In the ladies’ Nau- tilus, slimness and practicability are ensured 

by a quartz movement. Designed and crafted in Patek Philippe’s own ateliers, 
this electronic marvel matches the quality criteria as stipulated for our 
mechanical timepieces. 

The two-piece case incorporates a water-resistant sealing system 
which completely protects the men’s Nautilus to a depth of 1 20 m (396 
ft) and the ladies’ models to a depth of 60 m (198 ft). 

Each link of the Nautilus bracelets hand-crafted; polished orsatin- 
finished, and then individually assembled. In reality, it is only by being 
hand-finished that a timepiece can be turned into a masterpiece. 

If you are aiming for perfection you need patience. Perseverance 
also - and perhaps a streak of stubbornness - are often needed to 
achieve the best things in life. 

Queen Victoria, Charles Lindbergh, Richard Wagner, Franklin D. 
Roosevelt . . . and many other famous people have worn a Patek Philippe. Many 

more are wearing one right now. • / 

Al] of them for more than just moneys worth. I 


PATEK 

PHILIPPE 


GENEVE 


•Vf««5 IQ' CCHOlC-pi* 1 ? 


FOR MASTERS OF THEIR TIME. 













































Page 7 




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Upbeat inLondon 

anSw in? d ^^ ialysls “y ae Slock Exchange is poised for 
PoC^rS'fT^ Dpbeal ^ wis bawdonttebelitfSS the 
TGXDi will remain firm enoogi 

tor the Tnatdier government to lower interest cates farther _ Tfck 


1 

T . ■ * 


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r* 


r government io lower interest rates farther. This 
a drop in export earnings as the pound sutngihened eariie 


■ - i 
\ ’ ’, ■ 


tissues. 
leariiertlris 
summer also unnerved the mar- 
ket- “With U.K. interest rates 
and band yields trending down, . 
we’re modi happier” acknowl- 
edged William Bam, an analyst 
at Wood Marker Tie. 

Nevertheless, analysts are ad- 
vising investors to stay away 
from exporters and look to con- 
sumer issues, such as retail 
stores. Marks & Spencer, Brit- 
ish Home Stores and Sears 
Holding are on the buy list of 
many brokerage houses. Dee 
Corp„ a food retailer, and Dix- 
ons PLC. an electrical retail 
chain store are also mentioned 
by analysts. For those drilling to 
♦ah* a p-hatww that the pound 
will not tunic* further gains on 
the dollar. Nicholas Knight, an 
analyst at James Capd & Co_, suggested BAT Industries, the 
tobacco and retailing group, and ICI in the chemical sector. 
Both have fairly low pace-earning ratios. 





Cola Wars Revisited 


Among beverage analysts. Coke is stiD it. The leading soft- 
drink producer fumbled badly eariier this year when it retired its 
original formula in favor . of a recipe that met with strong 
disapproval among American consumers. In a turnabout, the 
company reintroduced its 99-year-old drink as “Coca-Cola 
Classic,” which is now sold along with the new Coke. But the 
impact of Cocar Cola’s marketing snafu on its stock price noil be 
minimal thisyear and may even be positive next year, according 
toGeorge Thompson, an analyst at Prudential-Bache. 

Mr. Thompson hares ins assessment an the fact that Coca- 
Cola’s foreign markets, which account for SO percent of its 
revenue and were not affected by the formula switch, continue 
to be healthy. In addition, '“Coc^-Cola Classic" should prove to 
be an efficient item requiring only Hunted marketing effort, 
explained Mr. Thompson; since its reputation is we5 estab- 
lished. When the new formula is introduced abroad next year, 
“its marketing will have already been fine-tuned" in the United 
Stafesjie: 


American Gold Option 


t 


The U.S. Treasury may soon find itself a major player in die 
gpld coin market Proposed congressional economic sanctions 


against South Africa would not only ban further imports of the 
Krugerrand, but would also direct the U.S. Treasury to begin. 
minti n g bullion coins for the first rime since 1933. 

The gold nans would presumably be traded in the same 
manner as South Africa's Krugerrand and Canada's Maple 
Leaf, The American coins would be designed to match the 
dimensions, weight and gold content of Krugerrands, which are 
available in denominations of one tenth of a troy ounce, one 
quarter, one half, and one troy ounce. 

There are no official estimates of the potential demand for an 
American gold coin. But the increasing unrest in South Africa 
has hurt demand for the Krugerrand and increased the sales of 


its primary competitor, the Maple Le af . 


Gilt-Edged Copycat 


The success of CATS and TIGRS, the zero-coupon instru- 
ments backed by U.S. Treasury saamties. was boimd to pr^^ 

imitators. But last week’s effort in London to introduce a similar 
instrument, STAGS, based on British government bonds, 
known as gilts, showed that some financial concepts do not 

travel well . _ _ „ .. 

The avowed purpose of the sponsor, Quadrex Securities, was 
io offer offshore investors a new way to invest in British pounds. 
Pfoyi.c* British regulations make zcro-coupOn instruments “tax 
horrible” fOT investors, as one talker put h, there is 

virtually no domestic market But even offshore : interest did not 
appear overwhelming, with all but one erf the 27 soies of 
STAGS ***** the week below their issue prices. In the longest 
maturityrSTAGS yielded about 1035 percent on an annual 

ba fcid-maiket participants cited several reasons for investor 

reticence. inctadS^ria^ ^ “ ***> J® 
SrSbers sai d, coming as many investors were taking profits 
on a big rise in steriing’s value. 



Grumman jets being built. Strate- 
gic metals are used in aviation. 


The Uneasy Market 
In Strategic Metals 


Pollution policy and 
politics stir interest 
in a depressed sector 


By Brace Hager 


W 


Afev York 

POLE last week's strike threat by 
miners in South Africa had most 
metal analysts debating the long- 
term implications for gold prices, a 


number of experts were expressing concern about a 
fashionable metal — rhodium. A member of 


less 

(he platinum group, this silvery white metal is 
rarely thought of as a precious metal, but can be 
significantly more valuable. 

A heat-resistant metal used in plating electrical 
circuits and in reducing auto-exhaust emissions in 
catalytic converters, rhodium is a so-called “strate- 
gic metal” This term is applied to a range of 
substances that are distinct from precious metals 
and Donferrous metals such as copper because of 
their limited supply and critical industrial and 
military applications, most notably in the construc- 
tion of aircraft and missiles. 

The distribution of these metals also has geopo- 
litical implications. Most of the world’s known 
reserves are in the Soviet Union and a handful of 
African nations. Questions about ihe reliability of 
supplies have played havoc in the market intermit- 
tentiy since the late 1970s. 

The recent unrest in South Africa, one of biggest 
producers of rhodium and other key industrial 
metals, has again focused attention on strategic 
metals. The market has lost much of its luster for 
investors since the booming metals market of the 
late 1970s, but it continues to attract a handful of 
individuals who hope to cash in cm its volatility. 

Although a strike on Aug. 25 by the National 
Union of Mineworkers in South Africa would 
primarily affect gold, diamond and coal mines, 
analysts are not discounting peripheral incidents at 
platinum firings that would also affect rhodium 
prices. To date, such fears have not affected rhodi- 


um or the prices of other strategic metals mined in 
South Africa, such as vanadium, manganese and 
chromium- But the current unease about rhodium 
supplies is understandable. 

Political factors have created market shortages 
and panic in tbe past The best example was in 1978 
when a group of guerrillas attacked tbe mining 
town of Kofwezi in Zaire, a center for cobalt 
production. With about 50 percent of the world’s 
cobalt reserves in Zaire and neighboring Zambia. 
fears of a shortage of this tough, lustrous metal 
used in the production of jet engines, drove the 
price of cobalt from S6.85 a pound to $45. 

Like most commodities,, the market for strategic 
metals has been bearish for the past couple of 
years. Even cobalt prices have slipped to around 
SLI-50 a pound, and some analysts believe these 
and other metals prices could remain steady for 
scone time if the South Africa poUtical situation is 
resolved 

“No producer of any metal likes to have violent 
(Continued on Page 8) 




After the FaH 





: y'*8Q& . !8S£ 

!.f' •• X . •- ■''C, • . • 




the bourses 


Discount Brokers Lure Investors Outside U.S. 


By Barbara Rosen 


one million accounts, already has an office in Hong Kong 
and hopes to expand into Europe next year, possibly to 




3 


3 


J 



London 

W ALL Street’s “big bang" of 10 years ago, 
which ended the era of fixed brokerage com- 
missions, gave birth to new a type of nofrills 
firm that offered to make trades for inves- 
tors al fees far below those of the big-name “wire house” 
brokers. By forgoing research and other services, these 
discount firms kept costs low and passed the savings along 
to investors as reduced commissions. 

Over the years, tbe discounters became a permanent 
feature of the U.S. financial scene, with other institutions 
such as commercial hanks and mutual funds also offering 
stripped-down trading in stocks. The UJ5. Securities In- 
dustry Association estimates that discounters, which now 
include some firms that offer minimal advisory services 
and whose fees are only marginally below tee of full- 
service firms, handled 19.2 percent of the trading volume 
on U.S. exchanges last year. 


Britain or West Germany, he said. 

Quick & Reilly, another big U.S. discount broker, hopes 
to offer computerized trading services and a stock informa- 
tion package to investors outside the United States. Using 
a modem, an investor who has a personal computer could 
tap the services through phone lines. Leslie Quick 3d, vice 
president of the firm, said a handful of investors outside 
the United States are already using the service. 

But the trail blazers in tbe field appear to be offshoots of 
smaller U.S. firms such as Andrew Peck and Eastern 
Capital Eastern has been in London for four years, and 
Andrew Peck opened its office last spring- Matthew Shal- 
loo, a vice president of Andrew Peck, said the firm wanted 
to be closer to its diems. Trans-Atlantic telephone calls are 
fine “until some small thing goes wrong and you can’t go 
down and talk to the person," be said. 

Investors who feel savvy enough to pick their U.S. slocks 
without the research and advice offered by the full-service 

it _ _ n - Li— La. tiAHin rliervuiniftfC 


abroad, this way of trading US. stocks has been generally 
inaccessible to investors outside the United States. The 
uncertainties of dealing by telephone, problems of time 
zones and unfamfliafity with tbe discount approach dis- 
couraged investors abroad, who loaded to trade through , 
the foreign branches of U3. full-service brokers ck through 
a bankTIui recently, the discounters appear to be taking 
steps to lure the business of investors in Europe and Asia. 

^Wdd like to be able to serve investors around the 
world,” said Hugo Quackenbush, senior vice president of 
Charles Schwab, a subsidiary' of BankAmerica Corp. 
Schwab, the largest U-S. discount broker with more than 


brokers can roll up big savings by using discounters. 
“There’s a pretty enormous difference in terms of the 


commission rates," says Walter Prime, an American who is 
managing director of Prime Grieb & Co. in London, a 
corporate finance firm- “I would reckon the savings is 
generally 50 percent-" 

“It’s absolutely crazy for someone to be paying much, 
much higher commissions if you don’t need ihe big firms, 
he said. "And frankly, you’d do better using a dart board 
than some full-service brokers." 

A quick check of various commissions for trading 100 
shares of stock costing $50 each gave some sense of the 
. (Continued on Page 8) 


ECU Comes of Age 
For Global Investing 


A sagging dollar 
boosts its appeal 
for bond investors 


By Colin Chapman 


London 

A BOUT five years ago, a handful of 
French and Italian companies hit upon 
the idea of issuing international bonds 
denominated in the European currency 
unit, tbe artificial currency that reflects the values 
of nine currencies of the European Community. 
The securities found ready buyers among one 
group of Eurobond stalwarts. 

“It was the individual conservative Belgian in- 
vestor — the Belgian dentist — who bought them,” 
recalled Pierre lately, manager of Cedel (he Euro- 
bond clearing service in Luxembourg. When it 
came to European currencies, he noted, Belgian 
bond investors were skeptical of the stability of 
such high-interest currencies as the French franc 
and the Italian lira and indifferent to the low 
Interest rales on bonds in stronger currencies such 
as the Deutsche mark. With ECU bonds, “they 
received higher yields than on the Deutsche mark 
and still had stability," Mr. Jaegly noted. 

Lately, as the dollar sags, investors far beyond 
Belgium and Luxembourg are discovering tire at- 
tractions of the ECU (about 78 cents). Although 
the continued high yields and security of dollar-’ 
denominated bonds discourage large-scale defec- 
tions, investors with substantial portfolios in dollar 
securities are weighing the advantages of at least a 
modest diversification into other currencies. For 
these investors, the ECU has obvious benefits. 

A study by Bank Julius Baer found increased 
interest in ECU securities among investors in the 
United States and Germany, and Mr. Jaegly says 
Japanese institutions are taking notice. Currency 


funds and U.S. institutions in particular have be- 
gun u> appreciate tire "fantastic diversification it 
offers against the dollar,” reported Leon Kirps of 
Credit Suisse First Boston. 

The new interest in the ECU fits in with the view 
of some professionals that fixed-income instru- 
ments make more sense than common stocks when 
it comes to strategies for cashing in on currency 
moves. They note that returns on common stocks 
reflect the fortunes of individual companies. A 
shift in value in a country’s currency can have 
widely different effects across the spectrum of 
industrial activities, complicating the task of sort- 
ing out the winners from losers in common stocks. 

Tire returns on fixed-income instruments such as 
bonds are more directly linked to broad economic 
treads rather than to specific industrial or corpo- 
rate developments. Thus they are regarded as “pur- 
er” plays on currency moves. 

The snag is that most major alternatives to the 
dollar have flaws. Few investors are w illing to 
abandon the high coupons on dollar bonds for the 
meager returns on bonds in Deulsohe marks or yen. 
While bonds in British pounds offer more generous 
coupons than dollar securities, tbe wild gyrations 
of sterling unnerve many investors. 

With tbe ECU, investors can avoid such tough 
choices by, in effect, using a weighted basket of all 
European currencies. The ECU stands to gain 
nearly as much as the Deutsche mark in periods of 
dollar weakness, say the professionals, yet the 
yields on ECU bonds are substantially higher than 
on Deutsche mark bonds. 

According io Salomon Brothers, the investment 
firm, the average yield to maturity on 10-year ECU 
Eurobonds was about 9.04 percent at the end of 
July. Thai was about 23 percentage points above 
the yields on Deutsche mark bonds and about Z4 
percentage points below the yields on Eurodollar 
bonds. 

The reasons lie in the weightings assigned to the 
nine currencies in the ECU. The formula gives 
heavy weighting to such widely held currencies as 
the Deutsche mark and British pound. But inclu- 
sion of- more narrowly held currencies such as the 
(Continued on Page 10) 


20% 


%% 

15% 


■■■ " \ 

.10% 


> 3% 


».’• Vi :■ 



Tire Currency Kicker 

During first half, trie, total return tm international 
boorio in auCri cttiTOiTCles as dritisto pounds, ECU and 
Frem^ fiairics showed^ ^Jnswl^ccKwertedh^odcA- 
iar&- Total return includes both interest payments' and 
clwigesmSoodpribes- 


Hultl «h 

onmn 

pound 



Japanese 
yen 

Source; Solomon Brothers 


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• ) 















Page 8 


I V!"KK> \T10\.\L I1KHAIJ) TRIBl ML MONDAY. Al GIST 12, 1983 

THE BOURSis 





DIVIDENDS EACH YEAR 
SINCE If ) 12 


A Focus on Assets Boosts Tokyo Prope; 


By Terry Trucco 


The Board of Directors of ENSERCH 
Corporation on July 30, 1985, declared 
a regular quarterly dividend of 40 cents 
per share of common stock, payable 
September 3, 1985, to shareholders of 
record August 16, 1985. 


For additional Inforniation, please write 
to Benjamin A Brown, Vice President, 
Financial Relations, Dept M, ENSERCH 
Center, Box 999, .Dallas, Texas 75221. 


F OR YEARS Japanese real estate Stocks 
were noted for their stability. They were 
dacac defensive stocks, promising limited 
with minimal risk. Mitsubishi Estate, 
with its blue-chip properties and ties with the huge 
Mitsubishi group, typified the sector's solid aspects. 
Its price hovered in the 30(Mo-400-yen range. Its all- 
time high was 550 yen in the mid-1970s. 

All mat changed this year. In March the stock 
reached 650 yen ($2.70) and by May it had shot past 
800 yen. It finally peaked at 970 in July before 
falling to arotmd 850 earlier Lhis month, a drop some 
analysts fed may be a short-term correction. 

The performance of Mitsubishi and that of many 
Japanese real estate stocks in recent months reflects 
a new theme running through the Tokyo Stock 
Exchange — ide - “'~ ’ ‘ ’ T " 1 

primarily underdi 


— identifying latent assets. These are 
tly underdeveloped p 

es that analysts believe are' not fully valued and 


properties held by com- 


CO RPORATION 


EP DECLARES 60 -CENT 
DISTRIBUTION 


Enserch Exploration Partners, Ltd., on 
June 17, 1985, declared an initial quarterly 
cash distribution of 60 cents per unit payable 
August 15, 1985, to unitholders of record June 
28, 1985. Enserch Exploration Partners, Ltd. 
(NYSE-EP), a Texas limited partnership, con- 
ducts substantially all the domestic oil and 
gas operations of ENSERCH Corporation 
(NYSE-ENS). 


For additional Information, please write 
to Benjamin A. Brown, Vice President, 
Financial Relations, Dept A, ENSERCH 
Center, Box 999 . Dallas. Texas 75221. 


EXPLORATION 

PARTNERS, LTD. 






INGENI 



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Rodamco A property trust seeking a 
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have yet to be reflected in share prices. 

The market's search for hidden assets is large ly a 
consequence of its current preoccupation with do- 
mestic issues. Trade friction with Washington and 
the slowdown in economic growth in the United 
States have soured the market's appetite for blue- 
chip exporters. As a result, properties and other 
sectors with large real estate holdings, such as rail- 
ways, warehouses and non-life insurance compa- 
nies. are textbook examples rtf the domestic shares 
that have been thrust into the spotlight. 

Moreover, these stocks are bang pushed higher 
by expectations that the government will revise 
bmlding codes and tax rules to encourage sales and 
development. This would be an inexpensive and 
painless way to stimulate domestic demand and 
make the economy less dependent on exports. 

Although these stocks nave been outperforming 
the generally sluggish Tokyo market since May. 
some analysts think the sector still has room to grow, 
particularly the so-called “Big Three” property 
stocks, Sumitomo Realty and Development, Mitsui 
Real Estate Development and Mitsubishi Such 
companies are weO-managed, own impressive prop- 
erties and, analysts say. are in the midst of develop- 
ing projects that could insure good returns well into 
the next decade. For example, Mitsubishi is under- 
taking an ambitious 25-year project to rejuvenate a 
large expanse of the Yoko hama waterfront. 

Some analysts contend that if the market accu- 
rately valued all hidden property assets held by 
Mitsubishi Estate, including the land under Tokyo s 
pricey Marunouchi business district, its share price 
could be at least 3,000 yen. 

Such optimism is not universal. Others believe the 
sector is about to peak or already has. Shares trading 
on the baas of hidden assets, they caution, are 
especially vulnerable to a sudden switch in market 
mood. And there has already been some talk that the 
maim overreacted to export fears. ‘This area is 
volatile now, and tinting is very important,” said 
Peter Tasker, an analyst with Grieveson Grant. 

Indeed, prices have fluctuated wildly in recent 
months for some of the small real estate companies 
with comparatively few shares available for trading. 
Osaka Tatemano, which owns choice land in Osaka, 
traded at 500 yen in early May when the sector was 
just heating up and shot wZjOOin early July. It has 
since dropped to around 1,900. Tokyo Tatemono, 
which also owns prime urban land, experienced 
similar gyrations, jumping from 500 to a high of 
around L300 and back down to the 850 range. 


Massive mid-July sales by Tokkin funds, trusts 
that manage money for institutions, are one reason 
for the drop, analysts say. But a number of observers 
think th ese issues have good long-term prospects. 

“In the last three months the market has been 
overextended in some areas.” said Tetsuhiro 
Miyake, a manage r for Nomura Securities, who 
cited certain railways, warehouses, hotels and other 
shares boosted by latent assets and little else. 

“Some stocks like Tokyo Tatemono and Osaka 
Tatemono were priced unjustifiably high. But for 
the sector as a whole, the growth should go into the 
next decade.” 

Some of the fundamentals still seem to favor real 
estate stocks. The price of premium property is 
rising by as much as 30 percent a year in Japan. This 
is especially true in Tokyo, where office space is 
growing scarce because of the increasing number of 
foreign companies who want to set up shop and 
because of the expanding use of office-automation 
equipment, which requires added space. Moreover, 
Japan is showing modest investment growth in three 
key areas — housing, urban development and big 
public- works projects. Housing starts have been 
surprisingly strong, fueled by the lowest home-loan 
rates in 15 years. 


\V- :: 




A If 








5E 




Railroads and warehouse companies, particularly 
those linked with one of the large industrial groups, 
such as Mitsubishi Warehouse and Transportation. 

e bmlding and 


also are likely to benefit from future 
development, according to analysts. 

Two government projects — a bridge to span 
Tokyo Bay and a new airport in Osaka — have 
already affected the share prices of a number of 
railroads whose land abuts the projects in each dry. 
Keihan Electric Railway and Nankai Electric Rail- 
way have been the chief beneficiaries, and a number 
of analysts project further gains. At the same time, 
the big warehouse companies are starting to raze 
dockside warehouses, replacing them with high-rise 
office buildings. 

Analysts caution, however, that such shares can 
be chancy. Railroads are especially risky because 
they tend to make little money from their govern- 
ment-regulated fares and may wait years to develop 
their land. “Investors have to look at these on a case- 
by-case basis,” Mr. Tasker said. “The land unde r 
consideration needs a potential” □ 


/U’WhfeWbrirf 


Weekly share price m yen 


Source: Datastraam 


Mitsubishi Estate owns 
the land under Tokyo's 
Marunouchi business district. 
Such high-grade assets have 
enhanced its standing 
with investors. 


OGQ 


FEB. MARCH APT*. UAY A*£ MX 


Discount Brokers Lure Investors Outside U.S. 


(Continued from Page 7) 
the savings potential Merrill Lynch would have 
charged 592. Another full-service broker. EP. Hut- 


ton, put the fee at S103-53. In the discount category, 
Andrew Feck said it would charge S56 and Eastern 
Capital $45. 

Even the full-service brokers acknowledge that 
discounters make sense when the issue is strictly 
commissions. But (hey note that many investors 
outside the United States, whether American or 
non- American, fed distant from the US. markets 
and may need professional guidance on selecting 
US. stocks. 

Some full-service brokers also offer various finan- 
cial packages designed to make it easier tor clients 
outside the United States to manag e their affairs. 
Merrill Lynch, for example, offers a managed-asset 
account tailored to the investor abroad. In addition, 
Americans may prefer a broker who offers investor- 


directed Individual Retirement Accounts, a product 
not all discount brokers provide. 

The issue seems not to be whether discount or 
full-service is better, but which is appropriate to an 
investor’s circumstances. Tbe choices are trot mntu-. 
afiy exclusive. Some investors maintain an account 
at a full-service firm and at a discount India. » 

Most of the opportunities for discounters outside 
the United States tend to lie with expatriate Ameri- 
cans. “They’ve got cash, and they’re familiar with 
the stocks, and they know what to do,” said Rohm 
Relph, managing director of Eastern CapitaL 
As with any financial relationship, investors 
should find out as much as posable about a dis- 
counter before opening an account. It is important 
to obtain dneiix on tbe firm’s financial status and 
how orders are executed and trades are cleared. 
Making snre the firm is dwilmg with an established 


tioa Corp- an industry-sponsored group that as- 
sures accounts. 

Unfortunately, discount brokers strurt aa fc tear 
oonnntsskm schedules in such different ways that ft 
ts often difficult to teti which one wig be i ‘ 



u awc u M B 


usually deefiae as the value of tto 
up. “Share” brokers* i 


bank is a key point. The most reliable discounters 
members of : 


will be 


the Securities Investor Protec- 


pereentagei 
the i 

transaction 1 

are based only on the uuni b ci of Shares traded. 

The two paring methods can have vastly tfifTerent 
effects on the costs of transactions. The h um or 
who typically bins high-priced node tends to save, 
more with the “shartr approach, while the investor 
who buys lew-priced stock tends Go do better with e ' 
“value** system. One way to dtsmine which is 
appropriate is to draw up a list of Htriy transactions 
and compare the coomissNos under various foe 
schedules. □ 




,.c . 


COMMODITIES 



Strategic Metals: Erratic Prices and Shadowy Dealings 


A 


r, 


(Continued from Page 7) 
price fluctuations,” said Philip 
BaHlieu. a trader with Wogen Re- 
sources Ltd. in Loudon. “It upsets 
their own production plans and 
also does the same for consumers, 
who don’t want to be paying dou- 
ble for what they paid at the Begin- 
ning of the year.” 

Stitt, demand for specific strate- 
gic metals sometimes creates an 
erratic market Earlier this year 
rhodium prices jumped from 5800 
an ounce to $1,200 mi the news 
that European countries were 
planning stricter emission-control 
systems on automobiles. It has 
since settled back to about $790. 
The potential demand for rhodi- 
um, a key component in catalytic 


surance as well as advisory fees if 
the investment is part of a man- 
aged account 

Those costs and the risks associ- 
ated with metals trading have led 
to a decline in the number of pri- 
vate investors as well as a corre- 
sponding drop in the. number of 
broken who deal in these markets. 
For example, Prudential-Bache 
Secu ri ties is the only major US. 


brokerage firm that offers strate- 
gic metals as an investment alter- 


converters, spurred analysts to 
'rhodium 


predict that annual world 
consumption might jump 17 per- 
cent to 210,000 ounces by the early 
1990s if tbe Europeans chose cata- 
lytic converters. 


Investing in strategic metals is 
tricky. Unfike' 


: with most commod- 
ities, investors cannot leverage the 
purchase of a strategic metal They 
must buy the whole physical 
amount through a broker and then 
make additional payments for 
shipping, storage, assays and in- 


native and does so with ample 
forewarning. 

“We do not think this is the type 
of investment the diem can trade 
in and out of like IBM or AT&T,” 
. said Fred Wasserspring, executive 
vice president of Prudential-Bache 
Metal Co. in New York. “The 
cnmmiaiipns ETC bigger and it’s 
not on actively traded market 
Some people joke that it’s traded 
by appointment” 

The joke is well put, for the 

vestors iTnot buying^ £xt setting 
strategic metals. Most purchasers 
are large companies or countries 
like the United States that will 
turn to producers to increase their 
stockpiles. “If you're Pratt & 
Whitney and you need cobalt for 


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jet engines, you’re going to be buy- 
ing a serious amount of cobalt,” 
said Mitchell Posner, co-autbor 
along with Philip Goldberg of 
“The Strategic Metals Investment 
Handbook.” 

Finding a buyer does not come 
cheap. Although broken are loath 
to discuss commissions, they say it 
takes little common sense to de- 
duce that the commissions on a 
$25,000 contract for silver, a very 
fimtid commodity, would be sig- 
nificantly cheaper than tbe cam- 
missions for a stmilar amount of 
vanadium or bismuth. “In our in- 
dustry, commissions run between 
10 and 12 percent an a normal 
$25,000 strategic- metals con- 
tract,” said John Rockensiem, a 
vice president at Troy Anthony 
and Associates in Costa Mesa, 
CaUlorma. “Far sfiver, it’s more 
Bice 4 or 5 percent." 

Despite the small size of tbe 
510-bim‘on-a-year strategic-metals 
market, there is still ample room 
for unscrupulous brokers who will 
gladly sell anything to the naive 
investor. In the wake of die 1979- 
80 metals boom, so-called “bucket 
shops” sprang up rbaig m g high 
prices for smaS amounts of strate- 
gic metals that were never deliv- 
ered. 

Even with tbe bear market, 
some brokers have been known to 
play up the “specialized nature” of 
strategic metals trading, where 


there can sometimes be a 10-per- 
ie bid 


cent differential between tbe 
and ask price. To compound prob- 
lems, traders do not have to be 
licensed to sett metals, and they 
have bed known to sell amounts 


CAPITAL ST RATEG Y 
FUND LIMITED 


Gartmore Fund Managers 
International Limited 
6 Caledonia Place, St HeJier 
Jersey a - TeL- 0534 27301. 
Telex: 4192030 


Fund 


Price 

Yield {%) 

String Dep.' 

£ 

1.026 

1146 

USS Deposit 

$ 

UfE 

647 

DM Depot 

DM 

£063 

<51 

Yea Deposit 

Yen50?.lfl 

542 

SwJV.Dep 

SFr. 

5470 

403 

N. Aneriom 

$ 

1,17 

050 

Jcpoi 

$ 

7 39 

060 

PocfficBasn 

S 

-U5 

060 

HI Growth 

$ 

1.15 

060 

British 


123 

240 

String Gilt . 

£ 

W 

1050 

HLHfehbiaxm 

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142 

1140 

Ysn Gam. Bond 

Yen 

139740 

120 

* Prices oi 5/7/tS. 




that are too small to be of any use 
to anyone except the plainly curi- 
ous. “One pound of cobalt is a 
nonmarketable commodity. It 
would cost more to ship” said Mr. 
Wasserspring at Prudential- 
Bache. 

To counter bogus practices and 
safeguard its own reputation^ Pru- 
deofial-Bache has investors d gn & 
“strategic-metals suitability let- 
ter,” which outlines trading risks. 
Tbe company also strongly recom- 
mends font potential i n vestor s 
shop around and compare prices 
as well as metal marketability be- 
fore putting any money down. 

James Gourlay, director at 
Gouriay Wolff & Co., asserts that 
if his company setts metals to an 
investor, then the company will 
buy the metal back at the going 
price. “We wffl always make a 
market for somebody,” he said, 
adding that investors should note 
whether a London-based broker is 
a member of the London Metals 
Exchange. “We realize it’s no good 
somebody buying this material 
and findmg out they can’t sell it,” 

Other traders recommend that 
tbe potential investor take a good 
hard look at the market baore 
involved- Because of 
t periods between 
price fluctuations, experts contend 
that only the very rich can afford 
to play. “People should qualify, 
themselves,” said Mr. Posner. 
“These are markets only for some- 
one who can afford to tie their 
money up — essentially, it’s dead 
equity — and be able to cover tbe 
ongoing costs of insurance and 
storage.” 

To James Koeafscy, president 
of Cam b ridge Commodities Corp. 
in Cambridge, Massachusetts, that 
means someone whose net worth 
is around $1 million and has an 


A Strategic Metal Primer 


WKXmMk The most expensive member of tbe plati- 
num group. to resistance to corrosion and tamlsbare 
rnating.ttsueBsmorewktespre&dfoiheoptic&Jequip- 
mart industry, but to main a ppBcaflon* are in auromo- 
tivdjprodncta. Primary producers are tha Soviet Union 
. andSoutfrAfrfca. 


. •> i 




i A by-product of zinc processing. A highly 
toxic imM. efforts are befog mad* to reduce its use in 
prgmeRfeand stabilizes. Canada and the Unted 
States bare the biggest mnrea. 


COBALTS fts heat resistance . s treng t h and magnetic 
properties make it a vital aBoy 'm aerospace and alec- 
friaaf products. Primary reserves are fa Zaira and 
Zambia. The Soviet Union is also a big producer. 


I An important afloy that increases the 
strength, dmbflty, and corrosion resistance of kon 
and steel for tnffitaty and industrial uses. The United 
StMes ia the largest producer. 


K' 


VANADIUM. Used as an aUby to increase the strength 
in won and steel products, a is also combined with B- 
tajuum-basodaHoys for jet engines and aircraft 
frames. South Africa and the Soviet Union are the blg- 
.gest producers. 


« f 
i rt 




Secffl^ erf Ito high strength-to-we*gm 
**V*^fo^ engines, airframes and missiles. 
The Soviet Urdon is theforgest producer. 


A sSvary wh3e metal used chtefly by the 
electronics industry. Gaffium compounds are used to 

produce figAfrentititog diodes for visual display panels 
in cafcuialors, radios. teievisiORS. clocks and Jnsto- 
ments. Switzerland Is the biggest producer. 


aura $50,000 to SIOOJXJO to buy 
significant amounts of metals and 
keep them for the long-tens in- 
vestment “Unless a person has a 


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burning desire for or feding that 
chromium, rhodium or indstun is 
going up. you don’t buy it unless 
you’ve got excess capital” he says. 
. Nor do any major plays appear 
immediately on the no p™ Al- 
though rhodium, because of Emo- 
pean emission-control plans, lodes 
to be a good bet. Mr. Knodsey 
warns against jumping too yyfo - 
Tbe drop Iran 51.200 produced 
“teclmical damage,” be says, 
mean ing a disorderly correction, 
aid rhodium could drop even fnr- 


■I .tut 
• 


I"*** 
•• ‘ ** 


* •--•S3 

***. 


. Pr udent metals traders refrain 
from predicting price treads. Bui 
one play some traders are touting 
is ca dmitmi, a bhnsfa-wistt soft 
metal used in rechargeable barter- 


• ' 


forotheria^TSe^S 
Because of a sum ia fry 
nkkd-cadmium batteries, howev- 
ec. Because of a surplus is ir*d 
and zinc, companies have cut back 
oa their production— the mfota g 
of which also produces cadmnnn 
and could create a oear-tem 

n 


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m- 

4a* 

1 N 




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*'<c "c > = ^C^ • . *- ■•-• ■-«: . . 


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^ :*•••• - 


INTERNATIONAL HERALD TRIBUNE, MONDAY, AUGUST 12, 1985 


% 



Page 9 


>\ 



' ■••«* ‘ w :- 


: Vi 


es Squeeze the Lakeside Scenery Market 

Without some dout. 



^a-jor complications 


By David 'Hnnin 



® Swi torIan(Ts c inS^ 


er cW,7^Tn. *’ nowhere is it m gr 

™ °eer oaron owns n .k^ c^ T ■ 




..:• I 



•- 



- " . "“uaidv ivosa 

wOTffs rich and famous. 

fordgn «*! estate investors looking for 
‘wS? Switzerland may norbe the 

J^islamT that Svnss bankers describe. The 
psporem is; so many non-Swiss have bought proper- 
^ eneva that theSwiss themselves fed 
“5“**?™ out As a consequence, the federal govern* 
meat has enacted restrictive laws that are putting a 
ngnt squeeze on foreimcTswho want to em’oythe 
806010 panoramas, nmd' climate and wdl-policed 
tnmquilhty of SwiizaiaraTs Riviera. • 

Lake Geneva with hs mtemational flavor remains 
the prune real estate attraction m Switzerland. Prop- 
erty-appredation rates average 6 percent to 8 per- 
cent a year compared with & Sutiss inflation rate of 
aboat3 perc en t. « * « » «aiiniA«SnMB • ■«%#*«« 

lakeside towns are 


— «»» «wm> luiviaguuuiuuuciB. The 

total number of dw elling units tooe sold to non- 1 
Swiss buyers this year is limited to 200 in the 
lakeside Canton of Vaud, which indndessoch towns 
u Monisan, ^itsarme, Merges, Nyon and RoHe. 

Swiss -o ffi cials , real estate agents contend, divide 
potential buyers into two Mtwmw the rich and 

famous nrflrwo nnvmn. 1 ' — 


to Switzerland, and otto, whose entry should be 
scruti ni zed and drastically hun ted in numbers. 

For the potential buyers who' are judged in Bern 
to belong to the desired category, -the uctr! barriers 
to real estate ownership mysteriously dfr 
agents say. Suddenly, an authorization mat 
to buy tms or that old chflfemi for a mm 
from 3 million to S million Swiss francs ($1 
xmllion to $2.1 million). 

Even then, Swiss real estate agents say, the buyer 
is well advised to spend a sizable amount of time mid 
money in the country as evidence of his apprecia- 
tion. While on visits to Geneva, one canny European 
billionaire regularly parks his Rolls-Royce illegally 
so that, the tickets, duly recorded in pohee comput- 
ers, will bear testimony to ins presence m Switzer- 
land. ■’ • 1 . " 1 -• — • 1 



scarce that already the city is becoming overbuilt. Of 
the two most attractive new buildings currently 
offering apartments to foreigners, one is tightly 
placed between older, less attractive buildings, and 
the other is perched high upon the steep mountain- 
side, a location that offers a fantastic view but poses 
daunting transportation problems. 

Purchase prices in Montreux rival those in Man- 
hattan. For a three-bedroom apartment the buyer 
must pay at least $250,000 to $350,000, depending 
upon the height of the floor and the view. An 
i with a lake vista commands a premium of 


iu percent or so above one on a lower floes' that 
looks out onto 


ly on neighboring buddings. Moreover, 


foreigners may face fees for additional paperwork 
and services that could add 5 percent to 10 percent 


to the base price. 

Those are not the only extra costs. The annual 
maintenance and bill-paying services provided by 
the budding administrator amount to about 1 per- 
cent of the initial purchase cost. The apartment 
owner must also pay a small charge for fire insur- 
ance. More significantly, the foreigner is hit with less 
arran geme nts than his 
takeout a first 
percent erf the 
purchase price of a new dwelling at less than 6- 
percent interest, the foreign buyer usually can raise 
no more than 50 percent of the price on a single first 
mortgage and the rate is no less than 6.5 percent. 



For other would-be purchasers, the opportunities 
are limited and less glamorous. The Swiss govern- 


ment’s aim, observers say, is to drive the newcomers 
into areas already heavily populated by foreigners. 


Switzerland’s traditional tourist attractions, Mon- 
treux is a bustling convention center, host to the 


The only lakeside city still open to non-Swiss pur- 
chasers is Montreux, about 53 miles (85 kilometers) 
from Geneva at the lake’s eastern end. One of 


annual jazz festival and the classical September 

Of finishing 


Musical as well as home to dozens 
schools for girls and rejuvenation dimes for men. 

Since Montreux is wedged between the lake and 
the Alps, the level area suitable for construction is so 


T HERE are other financial disincentives. 
The foreign owner of a Swiss apartment 
cannot recover some expenditures by 
subletting the property for long periods. 
The Swiss pohee, who keep a discreet but watchful 
eye on new foreign buyers, tolerate at most only 
subleases of two or three months. Furthermore, for 
at least three weeks each year, the owner or his 
immediate family must live in the apartment 
Paradoxically, ownership of an apartment does 
not entitle the purchaser to a coveted Swiss residen- 
cy permit like other tourists, the apartment owner 
may stay in the country for three months without a 
visa, but then must leave for at least a few days 
before re-entering. 

Also, for the first five years after the purchase, the 
owner is forbidden from selling the property. After 
that, it can only be sold to a Swiss. Since real estate is 
plentiful and unrestricted for domestic buyers, a 
Swiss purchaser is unlikely to be willing to pay the 
higher price that a foreigner would need to recover 
his investment. 

Despite the disincentives, purchase orders from 
foreigners continue to pour into Geneva and Lau- 
sanne real estate offices. Because of slack oil prices, 
Arab buyers, once the most active, for the moment 
have largely dropped out of the market Bui their 
absence is offset by a surge of orders from Hong 
Kong. Real estate agents say HongKong residents 
are loo long for a new haven after China takes over 
toward the end of the century. □ 


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IHT 6 


The Perils of Specializing 


By Edith Co6en 



. ;.:Nev. York~. 
S investment . dollars 
pour into mutual funds 
m the United States in 
_ _L record amounts, they 
are f nrling their way into what has 
become a popular product, the 
specialty rand. These are funds . 
that seem to fly in the face of the 
conventional wisdom and appeal 
of r nntllfl l funds, namely, that a 
broadly diversified portfolio, 
managed by professionals, is the 
key to success. 

Instead, tire specialty funds fo- 
cus on a particular industry, such 
as health care or utilities, and the 
investor essentially bets on bong 
o>i£» ^ target an arena for dxamat- 
ic growth. Although the possibili- 
ties for growth may be greater 
than in a fund diversified across 


Taking the Narrow View 


AvOrage^perfonnance of mutual funds grouped by 
specialty based on change in net asset value, including 
dividends, from the start of 1 985 to July 25. 


Specialty 

Number 
of funds 

Percent 

change 

ffeaWi 

5 

+33.48 

Natural resources : 

9 

+14.8Q 

Sdera»andtechntiloffir 

22 

+12.86 

UfiWy 

6 . 

+15.40 

GqW 

te 

+4JB2 

Source : Upper Analytical Securities 


many industries, bv the same to- 
ken, the chance ot large fluctua- 


tions in rad asset value make 
dairy funds decidedly not for 


i ^*Th& risk-averse investor 
sfaotild stay away," said Jeremy 
DnfficW, vice president for prod- 
tret development at Vanguard 
Group of Investment Cos., wftteb 
offers funds that spedabze m en- 
— • — niatsic health care. 



K5. • incy iuc iui 
. sophisticated investor." 

...Write the 


_ funds ac- 

count for only "a small percentage 
of the total amount invested in 
mutual funds, they are clercly cap- 
turing the imagination of inves “ 
,to«i Although as groupjto per- 
fonnance this year has been 
almost. identical to ite pofa" 
mancc of equity funds m general, 
specially rands have dominated 
the list of topperfonneij. 

tacT Portfolios, aysthesp^lb/ 
funds represent a “rapidly 
mg minority among aU munrel 

fends," increasing about 10 per 
Satin the past year, to* 6 

. - KJ.Vm hae hf£D Ou6T- 


ts since Fidelity ^oas 
specialty funds. Mr. Hines 
« Vrtffl over 100,000 investors 

e put more than SI 

alone, fa addition 


seatFiddity alone, m *«g*rT 

temorepopiriars^K;™- 
akn offers funds that coacea 


vestors to duster stock purchases 
around one industry or another. 
“We tend to see people Hdng a 
particular industry, and investors 
know that industry groups tend to 
move together,” he said. 

Given that orientation, Mr. 
Hines says the specialty fends of- 
fer broader diversification than an 
investor is likely to construct on 
his own. Moreover, the fang feud 
groups, like Fidelity and Van- 
guard, allow investors to move in 
and out among their specialty 
funds, offering a great deal of mo- 
bility at low cost At Vanguard an 
investor can move among its sec- 
tor funds at any time, with no fee. 
At Fidelity, an investor can switch 
among the Select Portfolios four 
rimes a year at no cost There is a 
$50 fee for additional switches. 
“Ail the individual has to do,” Mr. 
Hines said, “is pick the secton” 

But that is one point at which 
specialty funds pick up critics. 
Glen King Parker, publisher of 
Mutual Fund Forecaster in Fort 
Lauderdale, Florida, says the es- 
sence of mutual funds is to pro- 
vide the bdp of professional man- 
a pf«teni in three basic decisions; 
market timing, industry am- 
nation and specific stock. The 
manager of the [specialty] group, 
he argued, “is abdicating the re- 
sponSty for one of those dea- 
■ _ i 'th*> in wstor and. sav- 



* in defense ana 

^finaaaalservi* 5, 

ndividual sector biSg * 

or with something to 0&a - 
tveswrsteadw^®^; 
y through one of 
^hyctoosmgai^^ 

[readv oa the move ana 

rf«l^conlfaiteW^«^y 

“P® ?&iJana«3thai 

aS3S--.-s 

b in, for ex ^J%n nes , it is 


other hand, Mr. Parker 


It Of 
more 


ing, *You have to decide on the 
industry-* 

On the 
sees i dcc,_ 

manage!* Tn® >■* 

view of the manager. 

SESS&ME 

SaTSSWS 

Sspsaspsssffi 

ne is a toser, 

tends to ignore il 

F °l Tl985 wSs 

sSsS-sTj? 

3&1»®SS5 

^Tusl Of worst performers, on 


3il percent, acoording to Upper 
Analytical Services Inc. 

Specially funds also rend 10 be 
more volatile than broader mutual 
funds. In practice, according to A. 
Michael Upper, president of Up- 
per Analytical Securities, “most 
specialty funds are born after 
there is good performance. But the 
period of superior performance 
for a sector doesn’t last as long as a 
period of superior performance 
for more generalized funds.” And 
Mr. Parker says that trusting to a 
specialty fend rather than to the 
management of a portfolio offered 
in a general mutual fund merely 
“assumes that what happened in 
the past will happen in the future." 

A GOOD example of the 
volatility is First Inves- 
tors Natural Resource 
Fond. It led Upper’s list 
of mutual fend winners in the first 
quarter with an increase in net- 
asset value of 39 J3 percent. In the 
second quarter, the fund was the 
second-ranked loser, down 15.7 

percent. 

With such caveats abounding, 
Mr- Doffidd erf Vanguard, ac- 
knowledged that “specialty funds 
area’! for everybody, but they 

meet the needs erf the more aggres- 
sive investor who foflows the mar- 
ket dosely, finds an industry ap- 
pealing and wants to get more 
divoaned play in the future." 

The key seems to be how dosdy 
an investor is able to watch such 
funds. Some like to use them what 
they sense that an industry is 
about to take off, Mr. Duffidd 
arid. “But not everyone is that 
attentive, and if you don’t want to 
be attentive, you shouldn’t be in 
them,” he cautioned. Mr. Ifines 
agrees. “It is not an investment to 
disregard,” he said. “It calls for a 
watchful eye on the investor’s 
part." 

However sophisticated the in- 
vestor, wants Mr. Upper, “a spe- 
cialty fend is not an investment 
program. It can be part of one, but 
the balance of other investment 
and the timing of when to use the 
specialty fundis the responsibility 
of the investor." 

Mr. Hines agrees. “Ultimately, 
■the decision is always up to the 
individual who should always fed 
strongly about an-mvestmem” O 


Swiss Bank Corporation: 


Three times a day. 


we bring an issue to market. 


u There are a number of reasons 
why so many borrowers ask 
us to market their new issues. First 
of ail, professional design 
increases the ultimate success of 
the issue. Then there’s our 
acknowledged placing power, and 
finally, our group’s distribution 
capabilities are recognized 
as among the best , worldwide 
Dr. Christian F. Puhr, 

Senior Vice President 


And it’s not surprising, either. 
Swiss Bank Corporation started 
business as a securities 
issuing bank, so we have a long 
historical perspective on how 
the modem markets evolved and 
how they work. Over the last 
hundred years and more, we have 
acquired a good deal of 
expertise in providing financial 
assistance to many different 
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and In all major international 
capital markets. 

If you are thinking about your next 
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We will help determine what Instru- 
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requirements. Through one of our 
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London or New York, we can help. 




Swiss Bank Corporation 

Schweizerischer Bankverein 
Societe de Banque Suisse 


The key Swiss bank 


General Maiuaement in CH-4002 Basle, Aeschenpiatt 6, and in CH-8022 Zurich. Paradeplatz fi. Over 200 offices throughout Switzerland. Worldwide n **™° rk I branches , 
subsidiaries an? representatives): Europe: Edinburgh, London. Luxembourg, Madrid. Manchester, Monte Carlo, Paris North America: Atlanta. 

Los Angeles. Montreal New York. San Francisco. Toronto. Vancouver. Latin America: Bogota, Buenos Aires. Caracas, Lima. Mexico. Panama. Rio tie Janero. S3o Paulo. 
Caribbean: Grand Cayman, Nassau. Middle Eaat: Bahrain. Cairo, Tehran. Africa: Johannesburg. Asia: Hong Kong. Singapore, Tokyo. Australia. Melbourne. Sydney. 

untasZurcn S 0 V 285 


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con-, 
fust 
pro-’, 
t re- 


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pro-: 
red a 
hms.”; 
y the 
, said, 
eCtai- 
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export 
I said.', 
.Tuna’s 
change, 
sharp, 
anega-' 
aporta- 
s." 


e 


xor< 
most 
rom in- 
Spanish 
ith busi- 
out high 
ductiyity 
cepticism 


signs. In 
ave been* 
and ma-' 
nore job 
o appear. ; 

enough to; 
wih from 
r this year, 
■oris have 
said, as a; 
* U.S. and 


m 

fas to 
onds 


c — Zaire 
uraci with 
ary of De 
dines Ltd., 
purchasing 
ntiy’s dia- 
jr the next 
Idal news 
unday. 
aces a 1983 
expired in 
need Zaire 


* 


% 


tocifetfeMin- 
whiefa al- 
e’s diamond 
he company 
wer price of 
jBritmond’s -j 
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foti&teMin- 1 
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IPL1MENTS OF 

-itaiamb^' 






Page 10 


Movie Deals 
Often a Shot 
In the Dark 

By Leslie Whitaker 


New York 

L ONG ON glitter, short an gold. 
That is the reputation of movie 
limits partnerships, offerings that 
have tempted thousands of inves- 
tors to gamble on Hollywood’s ability to 
produce block bosters. Structured much the 


exploration. 



office gusher 
the interim. 

But while these public offerings have man- 
aged to raise huge sums for movie studios 
aod generate hefty commissions for broker- 
age firms, aides say that they offer little to 
the individual investor. 

Despite the Tact that only one in six Holly- 
wood films is profitable, movie limited part- 
nerships haw become increasingly popular 
in the past several years. Delphi Ffim Asso- 
ciates , a division of Merrill Lynch, has raised 
almost $1 SO million for Columbia Pictures 
Industries Inc. and Tri-Star Pictures Inc. 
through four offerings in three years. 

This summer Wait Disney Studios hopes 
to raise $200 million through its second pub- 
lic offering put together by Silver Screen 
Partners, a unit of HU. Hutton. Investors, 
who can spend as little as $5,000, will be 
party to profits from four children's movies, 
including “The Black Cauldron” and “Re- 
turn toOzT scheduled for release this sum- 
mer, and 10 to 15 adult films that will be 
released next year. 

"My view is that there are definitely better 
ways to mate money,*' said Larry Schetzer, 
an entertainment-accounring analyst with 
Arthur Young & Co. He sums up the attrac- 
tiveness to investors in one word: "Sizzle." 

“We try to steer our clients dear of movie 
partnerships," said Barbara Russell, an ana- 
lyst with Prudential-Bache. “The statistics 
show that the investor has not fared very 
wdL" 

Movie partnerships typically lend money 
to one or two movie companies for use in the 
production of a slate of movies. Like the 
movie studios themselves, partnerships like 
to spread' theft risk over a number of produc- 
tions. General partners, who manage the 
partnerships, say they keep a dose eye on the 
budgets and production schedules of films 
that they have an interest in. 

But prospectuses, and the potential re- 
wards. vary widely among offerings. Some 


Sylvester Stallone in ‘Rambo . * IPs a hit, but investors will have to wait 


entitle investors to no more than 30 percent 
of the proceeds from domestic distribution, 
generally the most lucrative source of a film’s 
income, and a much higher proportion of the 
smaller sums generated by, say, the sound 
track. 

Many investors have benefited from sub- 
stantial tax breaks, however, that are passed 


through to the partners. U.S. investors in an 
offering in 1982 by Delphi, which included 
an interest in the smash hit “Tootsie," were 
able to take a federal income- tux deduction 
equivalent to about 72 percent of their invest- 
ment that year. By May of this year, they had 
received cash distributions of almost 40 per- 
cent and tax credits totaling 7 percent of their 
original investment Lewis Korrnan, Delphi's 
managing partner, feels certain that revenues 
wiS eventually exceed the partnership’s origi- 
nal contribution. 

Most brokerage firms contend that profits 
will show, but not until several years down 
the road, when all of the movies have been 
released and sold to profitable secondary 
markets, such as television and video cas- 
settes. Exorbitant production exists are part 
of the reason. Sylvester Stallone's latest hit, 
“Rambo: First Blood Part IL" which has 
generated more than $140 million in receipts 
so far, cost $30 million to produce. Investors 
in Delphi IV. which has an interest in the 
film, still cannot expect to see a profit for 
several years. 

Another reason for the elusive nature of 
profits from movie partnerships is the high 
percentage that studios take off the top for 
distribution costs. High distribution deduc- 
tions mean that a film must earn three times 
its production cost — a rare event — to 
benefit investors. 

Movie buffs, who are well acquainted with 
box-office trade records and think they can 
steer their money toward productions featur- 
ing successful actors or directors, may also 
want to think twice about movie partner- 
ships. Investors are .unable to choose a part- 
nership based on its planned projects, be- 
cause most are undisdosed at toe time of die 
offering. And even if some of the films m- 
. elude big names, past success is rarely assur- 
ance of future profitability in Hollywood. 

Although the tax exemptions offered by 
movie limited partnerships have yet to be 
challenged by the Internal Revenue Service, 
that real possibility presents an added risk. 
And now, numerous proposals in Congress 
for revamping the tax system place the tax 
breaks m further jeopardy. 

Consequently, some offerings have been 


ports, 



MONEY 


THEEKHT 1 E& 

lANINTERNMO 
DILD^OONFEREME 

,OCTOBER24-25,1985l 

^Surviving in a competitive environment ” will be the theme of the sixth International Herald Tribune/ Oil 
Daily Conference on *Oil and Money in the Eighties 73 . The program, designed for senior executives in energy 
and related fields, mil address the bey issues affecting the current energy situation and assess future trends 
and strategies. HE Professor Dr. Subroto, Minister of Mines and Energy ; Indonesia and President of the 
OPEC conference, and John S. Herrington, U.S. Energy Secretary, will head a distinguished group of 
speakers from Europe , the middle East, Latin America and the United States. 

OCTOBER 24 OCTOBER 25 _____ 


KEYNOTE ADDRESS: 

— Professor Dr. Subroto, Minister of Mines and Energy, 
Indonesia 

COMPETITION FOR MARKET SHARE 

— Moderator: Herman Franssen, Chief Economist, International 
Energy Agency , Pais. 

— HE KepGnger, Chairman and Chief Executive Officer, 

The KepTaiger Companies, Houston. 

— Atria Parra Managing Director, flefroteas de Venezuela 
(UJC)SA, London. 

— Douglas Wade, Senior Energy Analyst, She# International 
Petroleum Company Ltd, London. 

THE IMPLICATIONS OF OPEC PRODUCT IMPORTS AND 

DOWNSTREAM STRATEGIES ON THE Ofl. MARKETS. 

— Nader K Sultan, President, Kuwcxt Petroleum International 
Dd, London. 

HOW TWO MAJOR OH COMPANIES ARE SURVIVING 

IN A COMPETITIVE BvIVIRONMENT. 

— Allen E. Murray, President, Mobil Corporation, New York. 

— Arve Johnson, President, Statoil, Stavanger. 

PRODUCERS AND REHNERS STRATEGIES IN AN ERA 

OF GROWING COMPETITION. 

— John R. Ha(, Chairman and Chief Executive Officer, AshJard 
03 Incorporated, Ashland, Kentucky. 

— E^a Md mivirta, General Manager, Neste Oy, Helsinki. 

— Nichola Mongefli, Assistant to the Executive Vice President, 
Enfe Naztonale Idrocarburi, Rome. 

— Scud O. Omafah, Manager, Supply Coordination, Pefromin 
Pcrtiapatian, Dhahran. 


hCW OUTLOOKS FOR UNITED STATES’ ENERGY POLICY. 

— The Honorable John & Herrington, United States’ Energy 
Secretary. 

NORTH SEA OIL- SEEDCORN OF TOMORROW’S 

PROSPERITY. 

— John Moore, ME, financial Secretary to the Treasury, 

United Kingdom. 

THE EFFECT OF FLUCTUATING OIL PRICES ON THE 

BANKING 5Y5TEM5, SHARE VALUES, fNSTTTUnONAL 

INVESTORS AND WORLD BANK LOANS. 

— Robert B. Weaver, Senior Vice President cud Global 

Petroleum Executive, The Chase M an hattai Bank, NA, N.Y. 

— ffeter Gignoux, Senior Vioe Pbesktenf, Shearson Lehman 
Brothers Ltd, London. 

— Robert L Franklin, Founder and President, Lawrence Energy 
Associates Inaxporated^ Boston. . ___ 

— km M. Hone, Assistant Director, Energy Department, The 

World Bank, Washington, D.C • 

MEGAMERGER TRENDS AND THE FUTURE OF THE OIL 

INDUSTRY. 

— Robert F. Greenhi, Managing Director, Morgan Stanley & 

Co. Incorporated, New York. 

NON^ONVENTK3NAL Oft. SALES. 

— Nficholas G. Vfiute, Oil Consultant, London* The Hague. 

— Chafes L Daly, Managing Director, LM. Fwchej & Cb. Ltd, London. 

— Dieter Kempermann, Managing Director, Union Rheirasche 
Bfounkohien Kraftstoff A.G. 

— Rosemary McfxxJden, President, MY. Meras'rfe Exchange. 

CLOSING PANEL DISCUSSION OF CURRENT ENERGY ISSUE5. 

— Paul K Frtrike!, Presided, Petroleum Eranorracs Ltd. 


Jo register, please complete and retan 


BE6JSTHATSON IKFOllMAllfB: 
7hepcyfe^3 ^a ^feeB£g5crfhe. 



" fo te rtia fo ftc i HerakfTribBtie, Gbrfere n ae . 
Office , ?B?,A»enueChaFfeMfeGcffl^ ■ 
92521 Neufty Cectev France. tSr telephone: 
fB 1 } 7*1696 or tefasc 613 5 SBL 

0||Sy Part Am 2s the official Gorier 
fcr the conference. 


CONFERENCE LOCATION: I 

Royd Garden Hotel, Kensngtan High Street, LONDON W84FT. Telephone: (441)937 0000. Telex: I 

263151. A bkxk of rooms has beer reserved far conference p a ti dpa nte. Please contact hc#d cSredty- j 


A Shift of Strategies in July 


structured with built-m guarantees for a re-' 
turn of the principal, thereby minimizing the 

importance of tax breaks. Silver Screen D, for 
instance, guarantees investors a 100-percent 
return ai the end of 1 5 years. Because there is 
no risk to investors, the IRS will not accept 
tax deductions. 

"I structured Silver Screen partnerships 
with guarantees because I do not feel that tne 
movie industry is a tax-driven industry,** said 
Roland Betts, president of Silver Screen. Mr. 
Betts declined to comment specifically on 
Silver Screen II because of Securities aod 
Exchange Commission regulations barring 
him from discussing an offering that is stm 

being sold. 

E ven partnerships that rely on tax 
deductions to entice investors have 
restructured to indude guarantees. 
Delphi TV, which raised $40 mil- 
lion for Columbia and Tri-Star Pictures this 
summer, is designed so that investors’ money 
is returned from unprofitable films before 
distribution costs are paid to the film compa- 
ny. Delphi's first three offerings deducted 
Divestments in unprofitable films from the 
earnings generated by the box-office hits. 
"We think the risk of loss is substantially 
reduced,” said Delphi's Mr. Korman. 

Ironically, the most profitable movie part- 
nerships may be those devoid of glamour. 
Investors in Tirana Co, an independent pro- 
ducer of low-budget, slightly raunchy come- 
dies, are not courted with suck prospectuses 
that discuss the past hits of Hollywood stars. 
Tirana's few private investors commit much 
larger sums man those accepted fay public 
offerings. But, according to published re- 
nts, their return is substantial "Squeeze 
a film Tirana made is 1982 for 
$300,000, grossed $1 million at the box office 
and returned a 50-percent profit to investors 
after 18 months. 

“We don't have the high star salaries and 
production costs," explained Lloyd Kauf- 
man, Tirana co-founder, whose office is in a 
fourth-floor walk-up in mid town Manhattan. 
"And we can’t offer our investors any big 
cocktail parties. When we’ve had some food, 
we’ve gotten it for free,” he said. □ 


F ALLING interest rates 
and a growing money 
supply continued to spur 
New York markets in 
July, despite widespread concern 
about Congress's inability to pass 
a deficit-reducing budget lbe 
Dow Jones Industrial Average mt 
a record at L359J4 on July 19, but 
closed the month at 1,347.45, only 
7 points above June’s dosing. 
Standard & Poor's Composite In- 
dex closed less than a point lower 
than in June at 19052. 

“I think we traveled a long way 
to get nowhere,”said Hugh John- 
son, president and head of invest- 
ment strategy at First Albany 
Crap. He said most of last month s 
activity reflected investors shifting 
from interest-sensitive stocks, 
such as utilities, savings and loans, 
insurance and banks, to cyclical 
stocks, such as metals, consumer 
durables, some retail companies 
and basic industries. 

Analysts say the change in strat- 
egy reflects the market's convic- 
tion that the U.S. economy will 
rebound in the second half. Last 
month's news that the gross na- 
tional product rose only 1.7 per- 
cent in the second quarter, sharply 
lower than the previous govern- 
ment estimate of 3.1 percent, bare- 
ly stirred the market 
Levi Strauss emerged as the 
New York Stock Exchange's top 
performer last month after accept- 
ing a buyout offer from its presi- 
dent, Robert Haas, and members 
of his family. They will purchase 
the 22 million shares they do not 
already own at $50 a share. 

Phelps Dodge was a dose sec- 
ond. Aside from the market’s faith 
in the company’s recovery. Value 
f ine analyst Tom Au said last 
month's interest was fueled by 
forecasts of a rise in copper prices 
next year. July’s announcement of 
strong second-quarter earnings 
was behind the gains scored by toy 
manufacturer Tonka Corp. 

Topping the list of worst per- 
formers was AJL. Robins. The 
pharmaceutical manufacturer 
continued to wrestle with settle- 
ments related to its Daikon Shield 
contraceptive diaphragm. Last 
month a federal Judge declined the 
company's request to consolidate 

punitive damage claims . 

AMF Corp., a manufacturer of 
industrial equipment and leisure 
products, saw heavy selling in re- 
sponse to the terms of its takeover 
by Irwin L» Jacobs of Miustar Inc. 
Mr. Jacobs, who gained control of 
the company by purchasing 115 
million mares at $24 a share, of- 
fered 10-percent subordinated de- 
bentures for the remaining shares. 
Analysts said investors p r ef er red 
to sell their shares for cash. Ap- 
plied Data. Research saw its slock 
price slide after it reported a sec- 
ond-quarter loss of $3.1 million. 

The American Stock Exchange 
index finished the month at 
233.92, ap slightly from last 
month’s 230.89. Leading the ex- 
change was Martin Processing, a 


Market Scoreboard 

Stocks on the New York, London and Tokyo exchange* that 

showed trie largest percent^ gains and tosseemjray. 


Percent July 31 

Gain Price 


July 31 

Plrfca 


New York Stock Exchange: 

CtampltedlwMedWQenen4nflan(a«JServteea.Pi1eeetadoUem 

40 49.50 AJLBobtaa 

40 23.75 

37 20.75 

34 10.88 

30 19.00 

29 22.25 

28 10.75 

27 39.75 

27 10.00 

27 37,00 


Levi Strauss 3 Co. 
Phelps Dodge 
Tonka Corp. 

Vfendo Company 
Comdisco Inc. 
AJberto-Culver Co. 
Armcolnc. 

Pan American Banks 
APL Corporation 
Far West Financial 


-5. 


AMF Inc. 

Applied Data Research^ 

EqtrftBC Branch* 

MkkBo South UtWttea 

BankAmericaCorp. ' 

TDK Corp. 

Orion Pictures 
GLAmr. F)rat Sawings 
Gdfeon Brothers 


American Stock Exchange: 

Martin Processing 65 * 8-50 

Giant Yeifowknife Mines S3 14.38 

Beard OH Company 47 11.38 

Crown Central Pete 33 18.63 

Mediq (nc. 29 22.50 

Over the Counter: 

Merchants Natl 77 43.00 

Copytelefnc. 50 28.13 

First Maryland 43 59.50 

Computrac 41 11.25 

Early CaHtorrria 39 11.25 

London Stock Exchange: 

Compiled by Capital MsmattanaL Prices In pence 


Tf Group 

Bowater Industries 
Affled Irish Banks 
Rank Organisation 
Tarmac 

Marchwiel McAlplne 
Plessey 
BPB Industries 
BSR Inte r nat io nal 
Woolworth Holdings 


Tokyo Stock Exchange: 

Compiled by CapttalbUemcttoneLPrtCM In yen 

Nippon Hodo 
Maeda Construction - 
Penta Ocean Construct** 

Kajima 
Toa Harbor 
TataeiCorp- 

DaiwaBank 
Kanebo 

Ohbayashi Corp. 

Kumabal-Gumi 


CtopayCorp. 
Erbfexf, toe. 

e UA — ■ ■ - - - 

MMWcaiBonvnBieiH 

T fPrt e cfaaolo gy 
Western Health 


40' 

10.63 

, 28 - 

13.38 

. 28 

26.38 

■ 18 

13.50 

17 

11 89 

18 

16 00 

V 38 

31.86 

31.6 

10.75 

'SB 

18.13 

J * • . 

3148 

32 

12.88 

19 

10.00 


17.00 

14.88 

18.7S 


RepuMcHeetti 
Mentor Graphics 
DSC Com mun i ca tion 
Software PubSshing 
Merry Go Round 


13.13 

19.00 

15.38 

10.63 

1383 


32 

336 

Standard Telephone 

22 

25 

313 

Rothmans inti 

19 

24 

136 

Tootat 

18 

23 

388 

DeBeeot 

16 

22 

336 

Cookson Group 

15 

21 

292 

Reuters Holdings B 

13 

19 

148 

CourtauUt* 

- 11 

18 

270 

Coate Paton* 

It 

18 

60 

Mariey 

11 

18 

44 8 

Imperial Chemical 

10 


57 

1,300 

Matsushita Elect TraOng 

28 

56 

873 

MoriSeM 

2S 

28 

381 

SMn-E!su Chemfcai 

24 

28 

399 

Murata Manufacturing 

24 

27 

339 

Nftto Electric 

23 

24 

306 

Tokyo Electron 

22 

22 

760 

h&poonGakld 

22 

20 

445 

Canon 

22 

20 

358 

Olympic Optical 

22 

19 

740 

Nippon Kogaku 

22 


manufacturer of carpet and uphol- 
stery dyes, which announced sec- 
ond-quarter earnings that were 
much higher than last year’s. 

In London, the market “gener- 
ally wanted to fall” in response to 
the pound’s strengthening against 
the dollar, said Mark Williams, an 
analyst at Vickers da Costa. Al- 
though sterling’s gains gave the 
government wider room to ma- 
neuver interest rates lower, most 
analysts were concaved about its 
adverse impact on the export earn- 
ings of big British concerns. 


Nevertheless, the market moved 
higher, helped in port by takeover 
rumors. The HnandaJ Tones AB- 
Sbares Index ended the month at 
606.45, up 10.91 points over June’s 
dose after dipping to a low of 
591.23 in nridJnly. 

TI Group, one of Britain's fafc 
gest engineering concerns, showed 
the steepest gain after reports that 
a group led by Evered had made a 
Nd for the company. Bowater In- 
dustries gained oa news dial Han- 
son Trust had built iqt a 7-percent 
stake. Allied Irish rose cm rumors 


1,790 

1,460 

606 

1,430 

1,100 

2.330 

1,050 

918 

935 

899 


that it was phmmngiosdl its stake 
in First Maryland Bancrap. in ihe 
United Scares. 

In Tokyo, thcNtkkei-Dcw aver- 
age dosed at 1123227, down 
649.82 prams from a month earli- 
er. Financial stocks and those re- 
lated to the gove nu ne uT s invest- 
ment and loan program 
experienced heavy seflrng prompt- 
ed fay concern mat tberr prices, 
rising since April were too high. 
ConumsbaOt VS. trade juopoe* 
ab »wwi m Japan continued to 
weigh on the market ' □ 



As the Dollar Sags, the Appeal of ECU Grows 


CONFERENCE REGISTRATION FORM. __ 

Please enroll the following pertiapart for the ofl conference. LJ Check encksed. U Please invoice. 


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surname. 


HRSTNAMs. 

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ACORESt. 


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I 

12-8-85 I 


(Continued from Page 7) 
Italian lira and French franc, on 
which high interest rates are paid, 
polls up the yields on ECU invest- 
ments. 

Adding to the ECU’s appeal is 
the dramatic increase in the num- 
ber of new bond issues in tbe com- 
posite currency. In 1981, two years 
after the EC ministers agreed to 
create tbe ECU as a unit of ac- 
count for official business, there 
were only five issues totaling the 
equivalent of $208 iniHion. In 
1984, the number of new '.sues 
shot up to 60, totaling $2.47 bil- 
lion. 

So far in 1985, the ECU is run- 
ning a dose second to the Deut- 
sche mark as the most important 
currency for new Eurobond issues 
after the dollar. Besides govern- 
ment Issuers, such industrial gi- 
ants as Chrysler, Philips and 
have raised funds in ECUs, 
with more glamorous names si 
as Walt Disney and Club Mcdher- 
ranfe. The EC has even floated an 
ECU bond in the VS. domestic 
market. 

The international, role of the 
ECU seems set to expand further. 
In April, EC finance ministers 
agreed to ulUm central banks, in 
non-EC countries m use the ECU 
as a reserve vt/rrenet. There are 


ECU Mix 

Units of national 
currency per ECU 

| 

Deutsche mark 

22384. ■ 

Srhish pound 

05553. ft 

French franc 

66640 1 

Dutch guilder 

2.5221 1 

Danish krone 

8,1286 ft 

[ BaSanlira 1,520.6000 |Q 

Belgian franc 

44.8320 §j 

Greek drachma 

100.7190 1 

Irish punt 

0.7246 1 



also discussions about settingup a 
supranational dealing office for 
international ECU transactions in 
collaboration with the Bank for 
International Settlements in Base!, 
Switzerland. 

Despite this rise to legitimacy, 
some individual investors still shy 
away_ from a currency that exists 
only in the realm of computerized 

“irf^ifficult psychologically." 
acknowledged F.mad Zikrv of 
Chase Manhattan's private hank- 
ing group in New 'York, which ha* 
recommended I f l N'hkN. ”S\«ntv 


investors don’t even regard it as a 
currency at all" 

Some of the anxiety can be 
traced to worries about realign- 
ments in the European Monetar y 
System, which links all the ECU 
component currencies except tbe 
British pound. Under the system, 
EC governments are committed to 
taking steps to keep their curren- 
cies’ valuc$ within agreed open 
ranges. But when pressures in the 
foreign-exchange markets build, 
such as they did last month, mem- 
ber governments can be forced to 
change the rektianshfps amnqg 
their currencies. The July 20 re- 
alignment resulted in a devalua- 
tion of the Italian lira. 

Despite the occasional reafign- 
ntent, the European Monetary 
System has meant that the ECU 
has remained fairly sable against 
most European currencies. 
Though that is far less true for the 
ECU -dollar relationship, bankers 
generally dismiss the impact of 
realignments as long as the dollar 
continues to move downward 
slowly, without a crash. 

In last month's realignment, 
they note, .the 8-percent devalua- 
tion of the lira was achieved by 
reducing the Italian currency's . 
value by 6 percent uithin the EMS 
and raiditg the value uf other cur- 


. rencies by 2 percent. The result: 
The ECU lost less than one half of 
one percent against the dollar. 

In addition, Mr. Kbps argues 
that the number of ECU curren- 
cies that coaid be categorized as 
weak has declined, giving it more 
stability. 

Looking ahead, Michael Bren, 
currency specialist al the Lohdon 
brokerage De Zoete & Sevan, 
foresees “lots of weekend meet- 
ings and gnashing of teeth, but it's 
only glitz. There will be small 
preplans when the Spanish and 
Portuguese currencies join the 
ECU. but their weightings will 
only be minor, ** 

Investors wfao venture into the 
ECU bond market will find that 
the system is geared to large pri- 
vate investors, according to Sir. 
Bren. 

Most issues are denominated in 
umts of 1,000 ECUs, whit* mean 
a cost about $700 to S800 per 

Though the Belgian dentist 
of euromarket lore Wien invests 
m small amounts, it is usuafo- 
fi dnmussion-meffr-cieai** to pur- 
chase fewer than SI 5,000 or 
bonds, says one dealer. 

The market is dominated bv 
Kinks in Belgium, Luxembourg 
anc Switzerland. ' _ 


* 















BeralbSEribunc, 




gURQeoHDs 

Market Was Ho-Hum Over 
Speculation on U.S. Rates 

B y CARL GEWIRTZ 

the.- *“ssv. r s_ _ , .. 


» rate decline <S Sv^L^SL 1 * 51 wcdc - Th= effect 
<Nershadowed by fcS^tKS P" 5 !^ U P prices was 
^ddmg on forinS^&i would send the dofcs value 


U.S; economy and about the outlook for the 


p r 9^ccts for slower growth are expectations of 
otuy small gams m industrial nrodoctinn and f~- 


u.a. economy arid ontto «* «» *e 

'SrasMS*, 

3«5M£ 555 

fflJSSSSSz IS 5 

^artw rebound, he said, Fr - sf>ort term uoa % 

the Fedekal Reserve will 2?" flnB medftfrn *erm — iuz % 

Sv'S^L^ XKKrKr; ts; 

pou^r of providing a sub- e S u 5hwt *«rm as7 % 

statural volume of reserves to ECu medium term • 922 % 

^ banking ^steo, and an g£ S3 2S £*£ % 

entual easier monetary u«p med term inn inst. uuo % 
stance cannot be entirely LuxF medfom form 9jq % 

ruled OUL" J *w Luxemboun Stock Bx- 

He said Friday that, “the ctwrwa ‘ 

******* Turnover 

tor July are probably disqui- For Wh k f~*-« auo. 8 
etmg to the Fed. Declines in imtan «* us. Doiimr* 
anto sales together with re- r^aj oonw Eq^mtant 

ports from retailers suaaest Cedel wb*a 9ms awis 

ihatconsomSs^eSS ^ ^ m» 

first-half spending spree.” 

oniysmril*^ P r ^ oct */ or sWer growth are expectations of 
July.” Mr. Kmifmon rvtnfinn^ W A « .... # 


. T.-K-W 7r vuiiWUMU ouu TOOUUIU 1UWU1C IOT 

July, Mr. Kaufman continued- “Also, the retarding influence of 
tnpr orogn trade sector continues to siphon demand overseas. 1 " 
^ ims new may help explain why last week’s record $21.75- 
ralh^ refinancing by the U.S. lYeastuy produced lower rates on 
tts offerings of three-, 10- and 30-year paper than had generally 
bear expected. The securities were sold at yields of 9.81, 10.6 and 
HJ.66 percent, respectively, the lowest since nrid-1983. This 
sparked a late week rally in "New York bond prices, but produced 
little echo m the Eurobond Tnarki* •- ■ 

What de m a n d there was for dollar securities -from for eig n 
investors — primarily in Japan.. — continued io go into the 
Treasury market, whose enormous hmridiiy assures th«n that 
their holdings can readily be sold with the least adverse impact cm 
prices. _ 

While investment hankers expressed conflicting views about 
how much demand there was for Eurodollar bonds, the fact was 
that three straight issues' for U.S. borrowers were floated last 
week. In the pilous two weeks, no UJS. issuers had tapped the 
market because the terms available here were unfavorable com- 
pared with NewYoric. 

1 AST week, both C5ticorp and a double-A-rated unit of 
.United Technologies saved an estimated 10 basis points, or 
■ 0-1 percent,i>y issuing here. Placement obviously was not 
easy as UT*s$100-zmDi<m. of 10% percent, 10-year bonds ended 
the week trading 2Y6 points below the offering price of 99%, or 
just oatsidethe 2rpercent commission paid to underwriters. The 
third was a three-part ' offering by C^ertkut Mutual Life 
Insurance Ca of mortgage-backed securities having a face value 
of $343.7 mflUon. 

The best received of the new dollar offerings was cute that will 
only be officially launched this week — $500 anffitm of bonds 
convertible into shares of Rockefeller Center Properties. The 
magic of the name has enabled managers to preplace 80 percent 
of the paper, lead manager Goldman Sachs reported. 

In all, $1.1 bflikni will be raised, including 5600 million of 
common stock to be marketed in the United States. The sale will 
leave the Rockefellers personalty holding only 40 percent of the 
1 2- budding complex that sits in the heart of New York CSty. 

The bond offering consists of two parts: $730 mfllion (face 
value) of zero-coupon bonds which wfllbe sold at a deep discount 
of 22% percent of the nominal value, raising $165 nriUion in cash, 
and $335 million of bonds bearing an 8-percent coupon for the 
first nine years and 13 percent for the final six. 

The terms have been based on the assumption that rental 
income rises 6 percent a year over the 15.25-year life of the issues. 
The implied increase in the value of the shares would produce a 
total return of 11% percent for holders of the zero bonds and 12% 
percent for holders of the coupon issue. If the inflation rate is 
faster, say 8 percent a year, headers of the zeroes could expect a 
return of 13.43 percent versus 13.27 percent on the others. 

The zero-issue’s greater sensitivity to the inflation rate also 

(Continued on Page 13, CoL 5) 


BUSINESS/FINANCE 


Bi-Invest 

Resists 

Takeover 

Seda to Overturn 
Montedison Stake 

Reuters 

MILAN — Bi- Invest SpA, the 
Italian finance group, has started 
legal proceedings in an effort to 
overturn a takeover by Montedison 
SpA, the country’s largest chemi- 
cals concern. 

A writ served on Friday by law- 
yers acting on behalf of Carlo Bon- 
omi, chairman of Bt- Invest, a 

Milan court to declare illegal the 
acquisition last month by Monte- 
dison of 37 percent of Bi-Invest's 
share capital 

The writ asked that Montedison 
be instructed to sell its Bi- Invest 
shares and be prevented from buy- 
ing any more of the company’s 
stock. 

On July 8. Montedison con- 
firmed press reports that it had 
wrested control of Bi- Invest away 
from the Boo omi family of Milan 
in what observers called one of the 
most spectacular raids in the histo- 
ry of the Milan bourse. Montedison 
aad retained its anonymity during 
the takeover, acquiring the shares 
through a subsidiary. 

Stock, analysts estimated that tee 
chemicals group had paid 250 bil- 
lion tire, about $133 million at cur- 
rent exchange rates, for the shares. 

The action drew strong criticism 
from Italy’s industrial establish- 
ment on grounds that Montedison 
was indirectly buying into one of its 
own shareholders. 

At the time of the takeover, 
Bf In vest owned a big stake in Ge- 
mma SpA, an investment company 
that is the single largest sharehold- 
er in Montedison, with a 17.1-per- 
cent interest 

Bi-Invest said on Friday that it 
was reducing its stake in Gemina to 
23 percent from 172 percent by 
selling 14.9 percent of Gemina s 
capital to existing shareholders in a 
transaction valued at around 100 
billion lire. 

A daily newspaper in Milan , I] 
Sole/24 Ore; reported Saturday 
that the move appeared to indicate 
Mr. Bon omi was preparing a coun- 
terattack on Montedison by raising 
cash to buy back Bi-Invest shares. 

But it was not dear whether Mr. 
Booomi wanted to win bad: full 
control of Iris company, the news- 
paper said. The Bon amis are be- 
lieved to hold around 30 percent of | 
Bi-In vest’s stock. k 

■ Indesft Calls for Receiver 
Shareholders of Indesil SpA, the 
Italian appliance manufacturer, 
have voted to put the company in 


Burnishing the US. Steel Industry 


' r£5S 


‘ 1 *• CT> ; 

i .■_*=> 

** J 


i 3 & 




'• tu * . i 

ta 

Wfl 




M 


Changes Follow 
Pressure From 
Automakers 

By Jeffrey A. Lefb 

New York Times Service 

CHICAGO — Three years 
ago. Ford Motor Co. was rqect- 
ing and returning nearly 9 per- 
cent of the steel it purchased 
from suppliers because of sur- 
face defects or faulty chemistry. 
Now, the rate has been reduced 
to less than 2 percent 
Similarly, Ford has forced its 
suppliers to reduce delinquent 
deliveries of steel to less than 3 
percent today, from 20 percent 
in August 1983. 

On a crash program to dose 
the “quality gap” with their for- 
eign counterparts, particularly 
the Japanese, Ford and other do- 
mestic automobile manufactur- 
ers have been pressuring VS. 
steel manufacturers to improve 
their performance. 

And while most industry ex- 
perts contend that steel produc- 
ers have still not attained the 
production quality’ of their Japa- 
nese counterparts, the steel- 
makers have been making signif- 
icant changes in their businesses, 
ranging from improvements in 
quality and delivery times to the 
industry's growing adoption of a 
type of steel that will help make 
cars more rustproof. 

“The steel companies have 
taken very significant steps at 
reducing the quality differen- 
tial” said Robert B. Costello, 
executive director of purchasing 


i&>Kt*uk»K*ie» 
£»S«S*OOB, • 




• • .'.'C.'u »• J 


activities for General Motors 
Corp. 

Still National Steel Corp. esti- 
mates that Japanese producers 
have a 15-percent advantage in 
quality, measured by rejection 
rates of finished products, over 
U.S. steelmakers. A company 
spokesman said that the Japa- 
nese also have a 12-percent ad- 
vantage in yield, the percentage 
of finished product that is ob- 
tained from raw steel 

“In the past, U.S. steelmakers 
fdt it didn't cost anything to 
throw rejected product back in 
furnace,” said John D. Debbmk, 
vice president in charge of mate- 
rial management at GM. 

Despite the new cooperative 
approach between the two indus- 
tries. and the automakers' long- 
standing loyalty to domestic 
steel producers — GM and Ford 
each buy more than 95 percent of 
their steel from United States 


Workers at Ford’s Chi- 
cago Heights stamping 
plant lift panels off a 
press. The panels, made 
from electrogalvanized 
sheet steel, will be used 
on a new minivan. 


suppliers — the alliance between 
the auto and steel giants is an 
uneven one. While the aur omak - 
ers'have been flush with profits, 
many steelmakers have been 
steeped in red ink. 

The demands of the auto com- 
panies put additional pressures 
on the nation's steelmakers at a 
time when they already are bat- 
tered by high levels of imports 
and tow prices. Moreover, at the 
same time that the auto compa- 
nies have sought improved per- 
formance, they also have been 
seeking to cut the prices they pay 
for steel- 

industry observers estimated 
that GM extracted price reduc- 
tions of up to 3 percent from its 
steel suppliers for the current 
model year, which began Aug. 1 . 
The automobile giant purchased 
6 5 mfllion tons, or about 9 per- 
cent of the domestic steel indus- 
try's shipments last year. 

Sted pricing has become “cut- 
throat," said Peter L. Anker, a 
metals analyst with Fust Boston 
Corp. “The' steel companies are 
fighting very hard for tonnage. 
They’re under enormous pres- 
sure to lay off excess supply.” 

The car companies represent 
steelmakers' biggest customers 
— automakers, including parts 
(Continued on Plage 13, CoL 4) 


Page J 1 i 


China Threatens 
Retaliation Over 
U.S. Textile Bill 


Compiled bt Our Staff Tran Dispatches Campbell Jr„ a Republican WhOSC 

BEIJING — The leader of a U.S, district in South Carolina is heavily^ 
congressional trade delegation said dependent on the textile industry,'' 
Sunday that China has made dear supports the proposal 
it would retaliate by cutting off ,, 
trade in other areas if a bill to 


trade in other areas if a 


He said that 13 to 14 percent o£i 


restrict textile imports becomes law United States $l50-biflion for®: 

- .i . vi r . nan fnriP ic riviA 1 a ■mn.viail % 


in the United States* eign trade deficit is due to imported ; 

“They lei us know in no uncer- 

tain terms. . .they would have to cut “Each billion dollars accounts 
off other trade with us," Represen- for 25,000 U.S. jobs.” Mr. Camp-’ 7 
tative Sam M. Gibbons, a Demo- bell said. “China is but a small pari* 
crat of Florida, said after three of the problem,” he added, ac-; : 


days of talks in Beijing 


knowiedgjng that the bill probably 5 


Mr.Gibbons said Chinese dele- would do more damage 10 Hong 
gates did not say what U.S. goods Kong, Taiwan and South Korea. ' 


would be affected by a posable 
retaliatory action. “High-techno- 
logy goods are not likely to be af- 
fected,” he said. “But they could 
cut off access to our goods.” 

At stake in the growing dispute is 
more than $6 billion in annual 
U.S.-China trade, six years after 
the two countries normalized rela- 
tions. According to VS. figures, 
China exported $129 billion worth 
of textiles and garments to the 
United States in 1984. making it 
China’s largest customer for these 
goods. 

Mr. Gibbons, chairman of the 
trade subcommitee of the House 
Ways and Means Committee, said 
that one solution his nine- member 


China has said that the proposal; 
would cost it more than $500 mil- 
lion a year, one-sixth of its exports: 
to the United Stales. Textiles com-: 
prise 35 percent of China’s world-; 
wide exports. 

China “has very determinedly let ' 
us know in writing and in talk that 
this would be a very serious mat-' 
ter,” Mr. Gibbons said, “and they- 
would have to retaliate in some 7 
form." 

He reported “some progress” in 
talks with Vice Premier Tian Jiyuml 
Wei Yumin ibe vice minister for' 
foreign economic relations and, 
trade, and members of China's Na- 
tional People’s Congress, but de-‘ 


delegation had proposed was diver- dined to give details. (AP, Reuters) 
sifi cation into other products. _ . 


He said that China's productive 
capacity and inexpensive labor 
should be tapped for other exports, 
rather than flooding the U.S. mar- 
ketplace with low-cost fabric and 
apparel 

The delegation was split on the 
proposed Textile and Apparel 
Trade Enforcement Act of 1985, 


■ Earlier Warning Printed 

The warning issued to the cod-' 
gressional group was not the first 
issued by China on the U.S. pro-', 
posal The Washington Post re- 
ported from Beijing. 

The official Beijing Review said 
in the July 22 issue that the pro-' 
posed legislation has “sparked a : 


which would protect the U.S. in- crisis in SinoU.S. trade relations."; 
d us try by slashing textile imports The commentary, written by tbe' 
into the United States. China's im- magazine’s economics editor, said; 
ports would be cut by 55 to 58 that the bill would violate the ChK 


percent under the bill due for ac- 
tion this fall Mr. Gibbons said. 

Mr. Gibbons and Representative 
Bill Frenzel a Republican of Min- 


nese-U.S. Textile Agreement and 1 
Multi-Fiber Arrangement. 

“China’s textile industry pro-' 
duces its most important ‘export 


nesota, said that they opposed tbe products,” the commentary said.; 
measure. “As such, the impact on China’s 

“There’s a good chance it won’t economy and its foreign exchange" 
pass,” Mr. Frenzel said, noting that earnings resulting from a sharp" 
the Reagan administration opposes drop would inevitably have a nega- ; 
thebilL live impact on China's importa- 

Bui Representative Carroll A tions from the United States.” 


Spain Pursues Austerity Programs Despite Pressure to Change 


By Edward Schumacher 

New York Timer Service 


taking office. Mr. Solchaga made it 
dear that be wants to reduce the 


- ... _ - _-. MADRID — Despite growing size of the budget, hold down infla- u,^- 

discontent within the ruling Social- tion and shrink state industry while tism ” It includes a large dose of 
SSSwiStimS 101 * cponea “I Party, Spain’s new economic encouraging more investment by liberalism in the 19th-century, free- 


ing France, has given his economic National institute of Statistics, in- 
team full backing to carry out what nation dropped to 9 percent at the 
Spaniards call “socialist pragma- end of last year, from 14 percent 
tism.” It includes a large dose of when Mr. Gonzilez took office. 


tan Turin. |S ^uu- 

lndesit said it had suffered raining the government's austerity 
mounting first-half losses after las- program and introducing free mar- 
ing 106 btQioa lire in 1984. ket measures. 

In Italy, companies can petition An unemployment rate 
a court to appoint officials to run 

their tJ&irsta up w wo yean. te far! tint e 

during which rime debts andliabil- f ? r 

Wes ire frozen «hde efforts ere nmhnve faded cahs frout Ww 

made to testruenne the business. ** 

. , . ... , , ist economic policies. 

Indesil said Iasi month that n n uf Carlos Snldison. whn * 


foreign companies. 

The policies arc pan of Spain's 
effort over the past two years to 
modernize and streamline its flab- 


market sense of the word, and is will come in briowS percent for the 
largely defined by Mr. Gonzklez year, and that the deficit figure wfll 


at onty around 2 percent, according i 
to the Bank of Spain, and most of ’ 
the growth has come from in- • 
creased exports. Internal Spanish; 
demand has been weak, with busi- 


when he says he wants both social fall another half point 


An unemployment rate of by economy before its scheduled 
around 20 percent — Europe's entry into the European Communi- 


htgbest — and the fact that elec- ty in January. 
lions are scheduled for next sum- “You cannot squander the el- 
met have fueled calls from labor to forts of two years?* Mr. Solchaga 
encourage more traditional Social- said recently. Tt wouldn't be polit- 


benefits and policies that work. 

“1 am a Socialist, but 1 am no 
fool” he is food of saying. 


Mr. Solchaga believes inflation demand has been weak, with busi- > 
If come in beiowS percent for the nessmen complaining about high; 
ar, and that the deficit figure will labor costs and low productivity,' 
[1 another half point and expressing more skepticism ' 


Spain's international accounts about the Socialists, 
have also undergone a dramatic tlo _, _ 

turnabout during tbe same period 


Still there are positive signs. In 1 
recent months, there have been' 


ist economic policies. 


icaliy or economically profitable. 


was bopingfor a rescue by Bosch- named minister of the economy last 
Siemens AG. But tee W est German month in an unexpected cabinet 


But Carlos Solchaga, who was not even from an electoral point of 


. . , , ~ ~ J Cr , u . Exports jumped last year by 17 receDt Davc 1 DCCT . 

Spains halycon days, when ns peroSt and nearly doubled to the 10 PF* *** ^ 

economy grew at a rale second only States ^ yielding a current- ord “ s *. And more J ofa 

to Japan, ended a derade ago, and account trade surplusof $2 billion, openings are beginning to appear. 

S rw!^ accordixi g to tbe government. But they may not be enough to 

ggygg i 00 * “ 0cwbCT Bm on the negative tide. Mr. prevent economic growlh Trom 

ending up slightly lower this year 
than last because exports have. 


view. 

Prime Minister Felipe Gonzalez, 


1982 have been mixed. 

On the positive side, inflation 


company. 


iny later said it was not inter- shakeup, is not deviating from tbe influenced by the failure of conveu- and the federal deficit have fallen 
m acquiring a stake m the polides of ^predecessor, Miguel tiooai socialism under President the the past three years. 


GonzAIez has been unable to pro- ending up slightly lower this year 
duce the 800,000 new jobs he prom- than last because exports have 
ised upon taking office. In fact, slowed, Mr. Solchaga said, as a 
almost that many have been lost result of changes in the U.S. and 


■ In defining his goals after Francois Mitterrand in neighbor- According to the government's The economy bas been growing European economies. 


liist Week's Ylarkis 

All figures ore cs of do se of trading Friday 


Stock indexes 

United States 

LarfWk, tWJtt. 

DJ Indus.— L3J0.90 t-3£UB 

OJUtlL 1&A6 1S&M 

DJ Trans.— 679*9 

S&PKM 782A5 7020 

SS.PSOO 1033 W-® 

NVSECP WJO 1KX85 

so*a:PndentolrtBitoSea)riiltL 


Money Rates 

United State 


CtTor Dtscoualrote 


bHtWk. Pmxik. 

7M» 7V> 


i u«g„ n- ..... rw 

— Federal funds rate— 79/16 m 
—1.10% prlnwrate 9W 9Vx 

— 140% Discount S 5 

— 1.60% Colt money 6% 65/16 

60-dav(nfert>anfc — AS Ah 


FTSE 100 — USiSO U8ZJ0 +OJ3% 

PT30 957 JO 95290 +045% 


HanoSenO- UmSl IMS59 +M6* 


NSckeToJ- 12401.1? ,1SKW -*** 


Comment* Cnxw ravrao +i.«% 
&m»:Jaaes€apeltCkLa*to 


Overnight 4*0 **5 

}-monm Interbank — 4*0 SOS 

onifltd 

Bank base rafts ltto life 

Coll money 11% 12Vfc 

3Hnontn Interbank— 113/32 111/16 

Dofer Loam. PrwjMc. one 

Bk Engl metex- 13830 13730 4-058% 

Gold 

London pm fix. S 3ZI-6S 32050 +036% 


Giirency Rates 


. j*. iw- - a- s. 

^ S ■« Si" 

SS " jjg ^ sS S S S 

UH4D 2*»J0 44WJ ^ ^ iUJ 5 & 7JD W*0 

— v*** -1- *so5x w* tin* i63«- 

2SL ” M4 Uja T2SB‘ 417.1J* W34 

l!Sd» 11TO usm UNO 44W24 U3B2 WJW 

I l?CU *** ^ ^ 1371? 5U6B 2M1 20581 


Ih«r mow Va,BM 

lies CWSWO 


len. BrtW 

Et- ’B 

s 

'£pama* 11W. 


«■"*» **■ 

ib5 

BrtokOnc. w*" 
HonettO** 

ladtavnipe* 

KronUt^k. MBSJ5 

KBwHtainor 0SOS 


unner per USS Cmrncr per l>&) 

awr-wn BSSJ0 

mulpmo 33iJ» Spm.Ptsua 1*430 

ttofW.knoe 03» S wOhrans 838 

1735 Tamms 4Wt 
mtHORto 167m Tnotbow 2&JS7S 

SZfiZZr 3*st 7«toBr» 53U5 

r", 220*5 UAEdtrtwm 16725 

^Ttr.md vssn VeMt.bM*. h.io 


— 

1 331 S irftn C romowrclou itottana (MUanK Banaue M- 

<W OWj-JMrtk {St>Ri; /amor, rtroL 


Grand Met ACI Refinancing Coal-IVfine Loan to Cut Costs 


To Buy U.S. • 
Health Firm 

IraemaDonai Herald Tribune 

LONDON — Grand Metropoli- 
tan PLC has announced an agree- 
ment to buy Fearie Health Services, 
a U^. -based retailer of eye-care 
products, for 5386 million. 

Tbe move, announced Friday, 
fits in with Grand Mef s strategy of 
reducing dependence on its slower- 
growth businesses, such as tobacco 
and dairy products, and expanding 
in consumer services and products. 
Grand Met has agreed to buy a 
40-percent stake in Pearie from 
GD. Searie & Co n the pharmaceu- 
tical company that Monsanto Co. 
recently agreed to acquire. To in- 
crease the stake to 53 percent. 
Grand Met is to acquire authorized 
but unissued shares from Pearie. 
Grand Met plans a tender offer far 
the remaining, shares. 

Pearie, based in Dallas, has more 
than 1,270 outlets in the Americas 
and Europe. It repotted pretax 
profit of $411 million last year. 

Early this year. Grand Met com- 
pleted tbe acquisition for about 
$124 miflioD of Quality Care Ino, 
which is based in Rockville Center, 
New York, and operates home 
nursing services. In 1983, Grand 
Met paid about $30 million for 
Children’s World Intx, an operator 
of child-care centers. 

in 1981, it bought Intercontinen- 
tal Holds from Pan American 
World Airways for $500 million. 

Tbis year. Grand Met agreed to 
sell its mflk business in northern 
England to Northern Foods PLC 
for £5 1 millkst ($70 million) and i is 
US.-based Pinkerton Tobacco Ca 
unit to Svenska Tohaks AB for 
$137.8 miliiotL Grand Met also has 
been trying to sell its U.S. cigarette 
unit. Liggett & Myers Tobacco Co. 


By Carl Gcwirrz ranging in maturity from one be financed through tbe sale of rung to lap the market for up to 

international Herald Tnbme month to one year, should trade as Euronotes or commercial paper in $200 milli on Banks are being 

PARIS — Following the lead of ^ a &KCi »“ue of LTCB, New York. Comalco is paying un- asked to underwrite $100 mfllion 

the major sovereign borrowers, creating a cost of funds well below derwnters an annual fee of Vi-per- and tbe rest will be marketed on an 

com panies that previously raised EdxjT. Against that low cost, ACI cent and banks are obliged to take up committed “best-efforts” basis, 

money on the international credit P 3 ^ LTCB an undisclosed fee unsold notes at a price set at 15 On the underwritten portion, 

market through syndicated hawlr providing the letter of credit basis points over Libor. Tbe charge banks will earn an annual fee of 14- 

loans are now tunnne to the short- 30(1 syndicate of banks a 14- rises in relation to how much paper percent and are obliged to take 


) the market for up to 
on. Banks are being 


on the international credit WUJ civo an unaisuuscu ux unsold notes at a price set at to On the underwritten portion, 
through syndicated bank ^ providing the letter of credit basis points over labor. The charge banks will earn an annual fee of V4- 
* now tummg to the short- ^ ** syndicate of banks a 14- rises in relation to how much paper percent and are obliged to take 


term money market to refinance 
their obligations at lower cost. 

Tbe most novel is a transaction 

SYWIICATH) LOANS 

for ACI Cole, which in 1983 ar- 
ranged a SI 10-nrillion project loan 
to finance an open-pit coal mine in 
Queensland, Australia. 

Project loans are considered tbe 
riskiest kind of bank lending, and 
require elaborate analysis. While 
the project is being developed, the 
loan is a direct obligation of the 
producer. But once production be- 
gins — as it bas for ACI — repay- 
ment and servicing of the debt is 
secured exclusively by the output 
of the project. 

In the early stages of ACI’s origi- 
nal nine-year Iran, interest was 
pegged at what then was a modest 
34-V4 point over the London inter- 


percent annual facility fee. 


the banks take with an additional unsold notes at a mariinmn cost of 


If the notes cannot be sold un- fee of 10 baas points if tbe full 15 baas points over Libor, 
derwnters are obliged to take tbe amount is put to underwriters. Italy’s Montedison SpA is in the 

paper at a margin of 14-point over Later this year, Comalco will market seeking backing for a three- 
Ubor. All these charges consid- market $180 million of floating rate year facility of $100 million. The 
ered, m a n a ger s of the transaction notes on the international capital chemical group will be able to raise 


would have been p&ymg under the back $30 million of this and com- banks, bankers’ acceptances in dol- 
or ginal syndicated loan. merctal banks will be asked to pro- lars or pounds, or drawings on a 

Another major Australian com- ride a guarantee for the remaining revolving credit, 
pany, Comalco LtcL. is consoHdai- $150 million. -r. 

mg and refinancing $480 mfllion of Bond Ltdu an Australian-based reeardod as verv tiehf^an 

debt The bulk, $300 million, is to building materials group, is plan- S'g 1 ^ gg ^ 

points, or 1/16 percent, plus 

__ charges ranging from 7 J to 30 ha- 

IMF Gears Argentine Plan, howmuch is drawn fromthe banks. 

T 7 {merest on tbe notes wfll be a maxi- 

Opening Way for New Loans 

' ceutical and chemical company, is 

Unued Press international way for signing of a refinancing expected to tap the market for $100 

NEW YORK — The executive agreement between Argentina and million through the sale of short- 


Tbe terms offered to underwrit- 
ers are regarded as very tight — an 


bank offered rate. The rate rose to board of tbe Internationa) Mone- 
56-14 point over Libor as tbe risk tary Fund has approved Argentj- 
shiftod from ACI to the banks. na's economic plan, paring the way 
This credit has now been amend- for the country to obtain loans 
ed to allow AG to issue Euronotes, from the fund and $4.2 billion from 
The credit, at renegotiated rates commercial banks, 
that have not yet been divulged, is - IMP onmwjt1 Fji _ 


IMF Gears Argentine Plan, 
Opening Way for New Loans 


United Press International 

NEW YORK — The executive 


way for s 
agreement 


of a refinancing 
m Argentina ant 


international commercial banks term Euronotes. This will not be an 
that includes $4.2 billion in new underwritten transaction, but will 
money. William R. Rhodes, a Gti- be on a best-efforts basis by two 

i i. _.l__ 1 i_ .1 ■ ... 


bank official who heads the bank placing agents — Morgan Guaran- 
negotiating committee, has said he ty Trust Co. and Credit Suisse First 
expects the agreement (0 be signed Boston, 
tins month. Dealer-placed paper rather than 


that have not yet been divulged, is tviup™,] named Fri- .. . ueaier-ptaced paper rather than 

to remain in place as a backstop to mJetinp in wStington. ^ IMF gave preliminary ap- the use of large tender panels of 

thea^t-yearMtefadB^. 


aTC uT : . will enable Argentina to immedi- 

As hanks assrnne that piqeci atelydrawr ^y £235 million on 

noua are ta^le at rates mat ite$ l 4 2.bSst^y credit with 
would make the effort worthwhile, .. . . 
the ACI notes are to be secured by wa ' 

an irrevocable letter of credit to be Argentina had drawn $235 mil- 
issued by Long-Tent! Credit Bank lion on its credit before the IMF 
of Japan Ltd. LTCB assures note* suspended drawings earlier this 
holders of repayments and the syn- year when inflation and growth in 
dicate assures LTCB it will be reum- money supply exceeded die guide- 
bursed if it has to pay out. lines set down by the fund- 

ed of this means that note.. The formal approval clear;, the 


program in June, but some adjust- is gaining favor as the most effi- 1 
mat was necessary after President dent merhanjem to ouufcet short- 
Raul Alfonsin imposed more strin- term notes for high quality borrow- 
gent economic measures than ers. Bankers say that experience 
called for in the agreement. has shown that paper intended to 
Argentina’s package with tbe be placed with banks is best distrib- 
banks will refinance roughly $9.9 cited through tender panels while 
billion of public sartor debt falling paper aimed at non-bank investors 
due in 1984-85 for 12 years and can be sold at better terms to the 
covers $3.5 billion of private sector borrower through a shiall group of 
debt falling due in the same vears. dealers 


De Beers Firm 
Obtains Rights to 
Zaire Diamonds 

Reuters 

KINSHASA, Zaire — Zaire 
bas signed a new contract with 
Britmond, a subsidiary of De 
Beers Consolidated Mines Ltd., 
giving it exclusive purchasing 
rights over the country’s dia- 
mond production for die next 
two years, the official news 
agency AZaP said Sunday. 

The contract replaces a 1983 
agreement which expired in 
March and guaranteed Zaire 
$8.55 a carat. 

Sources close to Sodete Mio- 
ie re de Bakwanga, which ex- 
ploits roost of Zaire’s diamond 
deposits, said that the company 
had settled for a lower price of 
$7.90 after rqecting Britroond’s 
initial offer of $7.80. 

AZaP quoted a SocHafc Mrn- 
iere official as saying he was 
satisfied with the agreement be- 
cause Britmond usually paid on 
delivery. 

Zaire’s 1984 production of 
6.8 mfltion carats is expected to 
' rise to seven millio n this year, 
industry sources said. 


SOETED 1U/8.T.C. WfifflMS 


Apollo Comp. 18K 

Mr Gasket 9% 

tetter 'Corp. 356 

Modufaire 8# 

Roditne W* 


WITH COMPLIMENTS OF 
CONTINENTAL AMERICA!. 



V" 


INTERNATIONAL HERALD TRIBUNE, MONDAY, AUGUST 12, 198o 



fall 


V\fe 

kmal 

e 

1 

kh 

Bond 

Prices 

Prices may vary according to market conditions and other factors. 




- S-- 1 r 1 

‘Jl -iM.’ If ' 






Amt Si 


a 


80S 


a 


nos 


7S5 


30* 


35 5 


UB 5 


23 S 


125 5 


ns 


153 




U0 T 


MOT 

1 

30 71 


30 T 


no t 


300 T 


2DQ T 


HOT 


HOT 


om 7 


7S T, 


40 T 


ISO Ti 


30 Ta 


UB TI 


*0 Tr 


73 Tr 


9 Tr 


Tr 




■ 1U 


30 Tn 


*0 Tn 

y 

SDOi tr 


9 Tr 


SO Ui 


7DWn 


ISO Un 


X Un 
M0 Un 

1 

X Un 

( 

150 Un 

y 25008 Uni 

* 

UB UM 

4 

aim 

t 

ISO Wo 

S 

19 WP 

S 

15 Wo 

S 

Mown 

s 

KB We 

5 

100 Wi 

* 

75 We 

X 

ft/- ft , ” 

s 

so wei 

S 

45 Wtoi 

S 

HO wet 

1 

158 X«r 


jUgf Met Mot UttCurr 


aw* 








fr* 




■^T-T- 


4U^ 


Mb It OK 
TteVSeo 
BbWJul 
IbHUp 
I12 71DK 
MffMV 
t ■MOd 

7b17Moy 


TD5 111 
ten ut 
BW W 
IOTA 79 
tW>i 7J3 
W A97 
■Mb 7 JO 
W% tt* 
m 7 a 








L-J . 


fc±±^E 


TREASURY AND OF ITS AGENCIES 


s loawTruHrv llbllSoo WJJ* »7J 

S MO UsTreawnr 11 9 f«j H3V, loan 

5 2» Fid Homo LOdt Bunk* 11 19E3ee K1 11146 

S TOO F«J Notional »ort Ass llttTIDw: 101* IMP 

» am fconohomi Mori ass mum in* uj 

y 2SD00 Student Loon Mork Ass 6b 13 Jan «K Ut 


DM STRAIGHT BONDS 


dm 100 
dm 100 
am no 
dm in 

dm ISO 
an in 
dm 100 
an M0 
dm ISO 
dm 150 
dm 100 
dm 100 

din W 0 

an iso 

55.5 

dm 1 M 

S 3 

dm H 

*5 “ok 

ss s 

35.5 

am iso 
am too 
an too 
dm too i 
an iso i 




97U 924 
HOW IUH 
WV. 91X2 
m lido 

m ion 

m 07i 
97b MAI 
HBK M4 


AUSTRALIA 

dm 100 Airstrollo 7 VFeb 

dm 200 Australia Pp luvocr 

an 150 AmfrrtJaPp 8 VDec 

den 350 Australia * WSrn 

dm 250 AwtroBo 5*tfNov 

dm 250 Australia 8V5 "TO Mor 

an 200 Australia W«Y1 R* 

dm 300 Australia Hk-OIDK 

dm 200 AusJraJta 7b1JI(ou 

an MO Australia MbJan 

dm too Australia 7k 16 Nay 

an SO Aiatrafkni Inf Dev Co O-B 7Nov 

an M0 hkanentov Iron Pin ** ®-hji 

dm in Mam! Isa Phwna mwito 

dm in 4flaenl In Finance 7b12Aor 

an Si POPUO Km Cutnon MUja 

dm in OMcnstandAlumlna M W Not 

AUSTRIA 

dm in Austria 7K14 

an IM Austria HVS7; 

dm IM Austria 7b 19. 

dm HO Aiairiopp 7KM, 

am is Aiatno skiohov 

am IX Austria Po 7b VI May 

dmWIAesfWo 7 13 Feb 

dm IM Austria IK VJ Jan 

I dn ISO Austria I- V20ct 

dm « Austria 8 UJut 

dm 200 Austria 7b H Mar 

an ISO Austrian CatlralBPp II NOet 

dn 150 Austrian Control BP» 7K-8tDtc 
dm ISO AuMrtan Control Bank 8 VFeb 

■sra ISO Austrian Control BPo 9 tphov 

dm UB Austrian Control Baik ibBONsv 
dm IM Austria* Control Ba* MBOk 
dm in Austrian Central Bank nvia 

Om KB Austrian Control Bcnk 79 WOO 

dn NO Austrian Caitral B Pp rikVSFrO 
an M0 Austrian Control BPo 7V.V0MOV 
dm no Austrian Cadrol Bank 7»HF«b 

dm ISO Austria* Control Bod Mb VI Nov 

dm 150 Antrim GoolralBia* 9bl2Anr 

dn ISO Awfrim Contra! Bonk B’uVJJiH 

an » Austrian Owdrlclty 7 l7F«b 

dm 150 Austripn Industry 7 95Joi 

dm M DanoBkrafluMrkeAP OKI 8Mar 

dm IM D unuukm HImw k i Ai I KJwC 

an M0 Gonomi Zxntradnnk i VDk 

am ID GtroaBAakSparkasea Wfcvj jui 

an SO Kolog KotmtlMT EUkj 4KB* Mot 

an 50 Pvtirn Antnbchn AfaWSep 

an 70 T uu nrao m sbotinAa SbllApr 

an a T um mo u ta tmlu i Ag 9b 1* Mar 

dm IM Vbmcaiy fbVAllo 

an tM VnnHWns IbbOct 

dm in Vsnt-Ablns ffcW Jtm 


M2 552 
112 1.19 

Mlb 7JJ 
UMVi SOI 
NOW 5*7 
10*K IM 
112te 458 
112 AM 
wb tsa 

UEW 4X1 
M2b 452 
100* 441 
100 474 

M3 413 
MSK 4-45 


ibWSSP 
5b 11 Apr 
9b1*Mnr 
5b 72 Alts 


520 515 7*2 
7.15 411 U3 
435 7J1 

7012 752 

on *a 51* 
4jt ?a 

440 41* 
7.M ra 
7xi 7a 7a 

420 7X2 

490 7 JO 

7 JO 109 
452 931 

4X5 7JB 
7.10 U* 
723 121 

40* 4*2 

7.1< 821 

AN 727 

441 M 

4X5 ZM 
446 7J1 

lit fa 
7J1 859 

7J9 7a 
ui m uj 

454 4M 
52* 45* 452 

455 751 

sa 597 400 
721 923 

432 8JI 440 
429 49 43 

421 445 52* 
7a 151 
7a 1J* 1*1 

3 33 


an no 
dm no 
dm M 0 
dm m Co* 
dm 200 
dm is 


dm 4SSd-l 
aa wsa-i 
an ho sac* not 
dm ' H0 Sod NM 
an M0 SndHd 


7b a 
7KB7MOV 
MVOK 

4 b Pst) 
to a Mar 
nbMMar 
oblfpeb 
5k. 15 Mar 
TbVAsr 
7baNo» 
5b 10 May 
114 12 Fcp 
Mb 12 Mar 
I 13 May 
7b 1* AST 
ntmiav 
n«*w 
TMltDK 
t aNou 
SVj1*Jat 
b95F« 
7b-H7Jon 
7 17 Mar 
ibaAor 
9413 Jill 
KVkn 
Mnwr 
714 aFM» 
Bb-MPW 

7 a. 

lb II. 
71411 1 
1T49II 
Sb-531 
7b 151 


Sb-MF«b 

Mbanov 

I VDK 
7 17 Apr 
7Vj a Moy 
fbVApr 
I TO He* 
7bHApr 

7 12 Jut 
lb 12 Jim 

8 ajon 
8 VDK 
7 17Jut 
«r»ur 
■ 5ISCB 
i atb b 
fbaoK 


114 12 OK 
7117 Jan 
1 ®F« 
naja* 
9V.19AU0 
Kuan 
lb i* Sou 
ibiSJai 
TUVMor 
7b a Mar 
■bajur 

7 VAST 

r«14A<jg 
I 73 Jan 

s-baod 
4L17MOT 
74PDK 
PV5JAU0 
74.13M 
■ UMOT 
Ibapab 
IKTOJOl 
TK Viter 
IK 12 May 
i voa 
maibb 
iw a no* 
nki2Sfp 
ib 130a 
lb 12 Apr 
rbaiar 

majat 
I a Jon 
WVAfl- 
b TJJun 
lb 72 May 
b 73 Mar 
lb 13 ok 
ANY 




lb V NO* 
TbVSfP 
lb a Jut 
7b11 Jul 
SbaPib 
7WI4MOV 

n*ajoi 
4bVMBy 
4bVJtm 
ntwod 
i aja 
I 73 Jem 
7b-WAor 
I aAUO 
7b 17 Die 
awvApr 
JbWAsr 
3b 19 Die 
7*71 Anr 

juajai 
3b 10 Jon 
KICK 
Ste T7 F*t] 

swajui 
swajui 
TbUNtN 
I HAuO 
1 14 Aim 


mu am za 

ret 722 434 S04 

B* 3 « IS 

MP4 705 70 

H7b 4X1 ya 


in ui 

457 7SJ 

ia ui 

491 ZX3 

2X5 125 

404 177 

49 79 

4J5 79 

41* 7X3 

*m 2 a 

472 751 

EU3 153 

599 59 79 
4g sx7 iS 
59 53* 

4*1 421 432 
451 LX 

tXI 495 

7.12 733 

45* 413 

432 421 79 
41* Z4* 

4*0 IM 

*> 24S 

400 3J0 

LS3 254 

451 IM 

31 29 

441 39 

400 447 

59 1X5 

215 154 

472 AM 

7M iM 757 
475 755 

479 479 737 


575 
lOOS 

3 5a 3 

435 7X 

48 IM 

437 7X8 

4*7 733 

49 49 
7M ia AC 
7jS 7M ISt 
7 St 7 9 7 Si 
472 457 457 
405 422 5J9 
706 IM 
432 451 405 




dm 100 B i to * N O ricRpontg HteUJun in 737 

dn MOBaMWefTfeRnaHi rr HOd lUb 737 

CANADA 


M.57 I dm 2H Canada 


•b 15 Apr ions 553 


131 7.11 

49 

4(1 AM 
AH 49 ■» 
451 

435 

79 241 

754 79 7X3 
437 79 

42* 733 

All 49 A33 
4X7 452 493 
7.M 7XS 
701 79 

19 19 8X2 
55* Alf 
7J3 734 

74* S3 
495 7X2 

4*9 7M 
7J35 - Uj 

4X3 7ft 
An ia 
79 IM 
59 19 *9 
79 743 

79 19 

fa 420 
7J4 7X5 

741 7X1 A77 
Afl 732 
5*5 HU9 
AM 79 
AM 49 7X* 
733 7JT 7j 
7.M 79 Ik 
499 4J5 730 
705 70S 7XS 


427 
49 • -7J0 

M 227 

579 151 

721 7J1 7J5 
453 70S 

241 194 

541 439 

II AM 

707 742 


dn 290 

dm )D0 
dm too EdM 
am ISO 
dm CO 

dn 75 


dn TOO 
dm 200 
dm mo snail 
dm MBShrO 


dm 19 Nn 
dn 200 New 

dm 750 New 
dm 250 New 


A . • _ 17 . ....... f 


American txaiange 1 

muons 

Figures as of dose of trading Friday. 

a 


Option & prkx Cutis Puts 




as *o 

tt *5 

Stmts a 

30b 35 

Sbrar *s 

as** 55 

85b 70 

85*% n 

059 9 

«sb 9 

Tenoco 40 

4014 45 

Vartan X 

30V> JS 

ZenMi I7VU 

199 20 

19b Z2Vl 


r Alwn 25 

2 27* a 

b Antox 1315 

lb 15b 15 

r Ub 17b 

3 lSb 7D 

r Am Brad 40 

r Alb 45 

r 41b 70 

r Astra 9 
r 21b 2Z» 

r 21 b S 

r 21 b 30 

BeotF 2 
SPfi X 
33M 35 

IwoFor 45 
SU4 » 
Sid 55 
Sib 40 
Dabs SO 
55b 55 

SM U 
3bmNV 40 
39b 45 

2bwm 2 
m 40 
^nsti » 
3Zb » 
Coosta 30 
12b 3M 
Deere a 

i Em raCI 70 
1 7» 75 

GT«I 3S 
39H 40 

am 45 
GO lit 45 
Hide 15 
17b 17b 
17b SB 
Hwrcui 30 


lb 3b b 

r I r 

r b r 

b 1 13-14 r 

MA r r 

*** » r 

30b r r 

15b r r 

fb 8b r b 

b 4b Mi lb 

1-U 13-14 r 4b 

b 2 1-U 3-U r 

1 - 1 * b r r 

r r 3-1* r 

1-U b r r 

r r r 7-1* 

b 17*14 9-tS lb 

r b r r 

I OK 

2 b 3b r r 

1-U r 3 3b 

3 r r r 

1 1 5-14 5-16 1 

r r lb r 

r 5*14 r r 

r 3b b 17-14 

7*16 lb r 4b 

i-H b r r 

2b r 5-U r 


r SVt 

3b 3b 

13-14 IMS 

5b r 

2 Kt r 

b lb 

l-U r 

r r 

3 3 

b lb 

1 lb 

b r 

2b Zb 


5U14MOT 
TVrUMOy 
7b 14 NOV 
4b 17 Jon 
7 17F*6 
TWO Jut 

7b 17 SIP 
TbNJpl 
■UMOd 
5L-9DK 

tlitlUr 
7k 11 DO 


0 VDK 
OK 19 Jut 
n-vFib 
4b«jim 

6 10 MOV 
7l*.VMPy 
4 VMS* 
MIS 00 
Ik 17 Mar 
HuVJan 
T vur 

7bVAua 
4 - VDk 
4 9AUP 
TbIIJM 
rjT*D(C 

1 71km 
i 15 May 
TWMDk 

7 19 Jul 
HkVJtst 
r<tl2 J»m 
I 12 Sep 
Jbvjon 
• VMar 
lb 10 Mar 
4b 10X1 
7b 13 Mot 

I SSd 

tbVMor 

P**Asr 


13t 


7X1 

un 

846 

735 

2X4 


tM 

7X4 


■Jl 

7.76 


7X3 

4X4 

ASt 

49 

79 

755 

753 

U6 


43 

7X4 

754 

79 

445 


79 

800 


7X9 

AM 

40 

7X0 

7X3 


724 

422 

4J2 

79 

470 


9 M 

lOb 


3X1 

49 


7X3 

4X1 


131 

AM 

*73 

427 

408 

1*5 

4X2 

XT* 


sa* 

sjo 

SB 

725 

4X1 

AS* 

7X4 

ah 

423 

4X0 

UI 

47* 

481 


875 

433 


7X7 

453 


7X1 

700 


753 

477 


19 

435 


7JN 

44* 


7X« 

800 


til 

LSI 


VOS 

473 

4X3 

7.U 

444 

441 

471 

417 

AW 

403 

474 

AS 

79 

42* 

IS> 

tz 

AM 
1X7 | 

442 

A97 

*50 ! 

427 

49 

*27 , 

447 

430 

451 . 

7X0 

•X* 

79 

4T> 

49 

*n 

411 

49 

49 ' 

49 

4*1 

7XS 

7X1 

79 

157 

T.T7 

457 

7J* 

420 

49 

405 

49 

Afl 

718 

44* 

43 

*57 ; 

tM 

49 

44* 

70S 

454 

7.9 

7X3 

U7 

82* 

4X4 

U7 

721 

79 

445 

875 

131 

727 

8X5 

4X7 

423 

4X7 

701 

451 

7*7 

405 

473 

4X3 

tM 

424 

4*3 

AS 

49 

UI 


H- 


T 4 *- 






7b 19 195 Wb 7. 


s-k- 








b— r 


b r 

13-M 1% 

r Sto 

r 2b 

r r 

b b 
i-u b 

r I 

3b r 

U 1 7-14 
v» ft 




i WA d Udlb-Pp, Uri.bwtwdiwr w4 i M spM .b 9 t 


V 


lUT01i^ROgii& 





HIGHEST CURRENT YIELDS 

On convertibles having a conversion premium 
oi less man IO%. 


129 

A 

<*7x3 

W 

179 

at 

083323 XU 

524X9 

ta 

rui9 4 

I 

3 

CM 

fb- 


5 

57, U 
*172 

7b" 

614 

2171 

*b- 

C54 

«* 



2*18 

*34' 

1 

4 ' 

IASS 

s 1 

051 

Itt 1 

ij*J7 

5 1 


5 1 


A. 


7b- 

.18 

r.ii 

!»*4 


•tlUS 
in 77X5 

TA 



n 9s*pn naturav 
* BOd 77 11480-52 
■1 2F0BI1 as«pf5 
fa ascpii nntnr 
JH 7JonC motally 
Ml IS Mx n IMvvK 
mu 1 PritC U Jon 54 
50 [7 Apr 78 155*053 

W* lSJdin B Die 03 
ra i Aon SteoM 
1T4 1 Mar 83 maturity 

9 1 DkB moturity 

}P 2J0BB 3 Apr 55 
IJTb tt Anr*S maturity 
JM 15 Merit Mvrity 
m H Sep 75 5 May J« 
”*• 1 3 Mar IS X Aar CO 


soap 

-a 4089] 

- HUM 
*30 

sum 

-eaue 

-skr 1*4418 
•RU259 

-*47 

*S* 

IBU 

S3NM4 

*477.-4 

1117-3 

unsown 

- 07443*5 


Explanation of Symbols 


CM* Canadum Donor 
ECU EuntoeanCuriincr UdU 
HUA Eurooeon Ifni I Of Acwun; 
L PoimdVeriing 
DM Cw-jtyftir Vir» 

MMD 6?*Aiiar.--«« 


SO# SPK4H Qron-ng l?'0* , .tl 
IF* LV9B«S-.1 F-sn; 

SrR ^r-i- 

FF c “, *"rf> 




















































i ^y : . . * 


»■*-* 


*.*?N- 




INTERNATIONAL HERALD TRIBUNE, MONDAY, AUGUST 12, 1985 


Page 13 


fefebondfesnes 


Bond Prices comm»h.tt 


bond traders. 


Rise as Slow ^-S. Trade Representative Praised After Steel Pact Negotiated 


Amount 

(millions) 




Growth Seen 


ROARWO RATE NOTES 
G*drf Fonder 


AisheyNot^ 

" Biifcfcig Sodety 


®*0r i 00.05 101.00 CcM»n pegged to the higher of ] -month L2xx or Amorth 

UmeovM monthly. Ctrfkrfrfe aj 10QU5 n 1986. Fees 0.10%. 

l>»roomtmSWJXO. • 

lAAi — *- — 


New York Times Soria 

NEW YORK -7 U.S. bond 
prices continued their advance last 
week on forecasts of slower cco- 


By Steven J. Dryden 

International Herald Tribune 

BRUSSELS — Not surprisingly, 
Clayton K. Yeutter, ihe new US. 


DM500 


1986 1/16 100 99S5 Ovar 3^ocrt. UKd. FW* rata rartifiootw of deposit 

; Dwominofions fiSO/XW. 


nomic growth. 

Traders were relieved that the 

Treasury's $2 1 .75-biliioa refinano- 


jggOWFON 

: >Qieocp . • 

CM. fat 
T.CMlnfl 


100 9932 Q*r Smooth U»r. GJnfcto a pjin 1990 Fmi 020%. 


U.S. CREDIT MARKETS 


ins had ended Thursday, and they 
shafted their attention bade to the 


$200 

*79.85 

"$147.95 


1988 ip 
1990 m 
”l995 11 


100ft 99.38 NonmSa fa le. 


CM inti 


BM Japan 

Itowgdd Sled 
AfcAishi “ ! 
Sumitomo Metal 
Toyo Engineering 
United Technologies 


finonce'Serwc as 
EB : “ ~~ 


2000 zero 

1992 10ft 
1995 )Qft 
1995 10ft 
1990 10ft 

1990 m 

1995 10% 


100 98-fg Nonarffabla Snlang hind to produce o 13-yr oneroge Hn. 

99% 9&00 Callable at 102 in 1991 Sntar^ fund to produce ai 

owmflB Ufa. 

1BB0 1&05 Yield 11.79X. Pwamk $21.8 wafog Noumtobfa. 

100% 9938 ttauliUt. 

101H — Noocofabl*. 

101 99 JO Nonccdobbu 

Tom 99.88 Noixrfcto. ~ ~ ~~ 

101% — Nancdbbh. 

99% 7738 CdMis at lOt in 1992. 


Swfeig Transferable 
Accruing 
j. Gavwinrnent 
Secures Lid 


DM200 
£ 309.25 


1997 6% 99 9935 Calotte or >01 Kin 1994 


zero — — Cntnposad ol 71 aun merfuring from Sep*. 30 1985 to Sept. 

30 WS. priced ban 98SO to 26*. rtskfng from 1 1H5\ to 
1{L5S%» with a Face value of £775 nAon. and of a 2»h 
itne, principal repayme nt or “corpus". maturing in 1998, 
priced at 26* to yidd TOS5X, with a face vtrfue of £100 
ndBon. Corpus bond ended die week erf 77. Seamed by 
flritbh Tteoeuty's 15tfa of 199a 

1995 8ft 100 9738 CM* at 103 in 1991. SMang fund to produce an &-yr 

average Ufa. 


Mftsui finance Asia 


are 

AustraSon 

Tetecommunicarions 

todays Ausfrqffg 
Bergen Bank 
Dart & Kraft 


1990 10% 100ft 98 j 63 ftoddfe 
.1992 13 100% 9775 iwrfkrfte. 


American Express 
Credit 


AusS50 

nz>50 
NZ$60 
Y 25,000 


12% 100% 
16ft 100% 
16% -100% 
8 100 % 


— NancaSabie. 


NonarfUte. 


— Noncnfahle. 


NancdUk Rede em ofcle in US. dolara ot 208 yen per 
-dollar, for a total of $1207 mfion. 


economy. 

“Over the past week there has 
been a drift m psychology away 
from the view that the economy is 
going to rewound strongly over the 
second half of the y ear," said Da- 
vid M. Jones, economist at Aubrey 
G. Lanston & Co. 

During the wedc, department 
stores and automobile manufactur- 
ers reported weak sales in July. Ed- 
ward H. Boss Jr., vice president at 
Continental Illinois National Bank 
ft Trust Co. of Chicago, said the 
sales reports helped ease fetus in 
the marketplace that the Federal 
Reserve would tighten credit if the 
economy rebounded strongly. 

In the secondary market Friday, 
the Treasury’s new 10%-percent 
bonds due in 2015 were offered at 
100 6/32 to yield 10.60 percent. 
Thai compared with a price of 99 
22/32 on Thursday, when the 
bonds were sold ai auction with an 
average yield of 10.6 6 percent 
Short-term rates were unchanged. 

Henry Kaufman, chief econo- 
mist at Salomon Brothers lnc„ said 
Friday that since there are no signs 
yet of a third-quarter economic re- 
bound, the Federal Reserve proba- 
bly wiD continue to provide a sub- 
stantial volume of reserves to the 
banking system “and an eventual 
easier monetary stance cannot be 
ruled out entirely.” 


trade representative, has won high 
marks from EC officials following 
the successful conclusion last war 
of negotiations on Kmitfng certain 
steel exports to the United States. 

Despite a 25-perccnt cutback in 
EC exports fen - the rest of the year, 
the agreement allowed the commu- 
nity to claim that it was allowed 
potential sales that could boost the 
1985 amount past the 1984 export 
total of 632,000 ions. 

But U.S. sources said that ac- 


menL “1 think he has stuck his neck 
out," be said of Mr. Yeutter. 

The community blamed the sted 
industry for the US. rejection of 
the first agreement negotiated last 
fall on Sled pipes and tube exports. 


Speculation Resumes 
On Ddors 9 Future Plans 


cording to information from buy- 
ers in the United States, the ECs 
total sales this year probably will 
equal only a liule more than 90 
percent of the 1984 amount 
Nevertheless, one community of- 
ficial said of the agreement: “I 
didn’t think a new man could do 
this.” Mr. Yeutter, the official add- 


ed, obviously has “some dour” and 
“can speak tor himsdf 


“can speak for himself." 

But the official added that he 
was not sure that the U.S. steel 
industry would accept tbe agree- 


Almost from the time he took 
office as president of the European 
Commission in January, Jacques 
Ddors has been pursued by rumors 
that he will quit before tbe end of 
his Four-year term and return to 
political fife in France. 

Ddors- watchers were quick to 
jump on comments he made in 
May, when he told the West Ger- 
man rnaga-ym^ Stent if the 
member states did not take action 
on Iris proposals to improve Eu- 
rope's technological cooperation, 
he would have nothing more to do 
“in tbe position I now occupy.” 
After these remarks were pub- 
lished, his spokesman spent several 
days fending off reporters who 
wanted to know if Mr. Delors was 
threatening to resign. 

The latest rumors about Mr. Do- 


lors’ plans came in an article this 
summer in the West German maga- 
zine Der Spiegel, in which its Brus- 
sels correspondent speculated that 
Mr. Ddors might return to Paris 10 
serve as prime minister under Pres- 
ident Francois Mitterrand if the 
composition of the cabinn is 
changed after the next national as- 
sembly elections. 

Asked recently about the article. 
Mr. Delon made light of the ques- 
tion with a reference to the criti- 
cism he suffered as finance minister 
while implementing an austerity 
program for Mr. Mitterrand. 

He said that the French “are not 
at all convinced” that he should 


Mr. Middendorf, 60, was until 
Ms present appointment, the U.S. 
permanent representative to the 
Organization of American States. 
Earlier, he served as ambassador to 
The Netherlands and Secretary of 
the Navy. 


Saudi Arabia is Said 


To Consider 20%-Tariff 


return to politics there. “At least 
the politicians aren’t,” he said. 


EC Receives Credentials 


From New US. Envoy 

J. Wflfiam Middendorf, the new 
U.S. ambassador to the communi- 


ty, presented his credentials to Mr. 
Ddors on Aue. 1. The post had 


Ddors on Aug. 1. The post had 
been vacant since March when the 
former ambassador, George Vest, 
left to become director-general of 
the Foreign Service in Washington. 


Saudi Arabia has been making 
threatening noises about the com- 
munity’s tariffs an Saudi petro- 
chemical products. 

Last week, the English-language 
Saudi Gazette of Jeddah quoted an 
unnamed official of the Gulf Coop- 
eration Council as saying that Sau- 
di Arabia might impose retaliatory 
tariffs of 20 percent cm EC goods. 
Tbe council includes Saudi Arabia, 
Ralyrain, Oman. Qatar , the United 
Arab Emirates and Kuwait. 

Saudi Basic Industries Corp., a 
state holding company, said the 
threat to EC industry from Saudi 
exports had been exaggerated. 

The community last month im- 
posed a tariff of 13.4 percent an 


M Fnday, 

Sgg Market Indifferent to U.S. Interest Rate Prospects 


{Continued from Page 11) 
means that holders of tbe coupon 
bonds have more protection if in- 
flation is slower than tbe assumed 6 
percent. 

Tbe split coupon is designed to 
provide an average annual income 


over tbe 1575-year life of the issue 
of 9% percent The implied annual 


G6dit National 


r 20,000 


8 101 % 


N uuaJuU o. H e d aero ab le in US doBort at 208 yu per 
dollar, for a total of $96.16 fnffon. 


U.S. Consumer Rotes 

For Wwk Ended Alls. 9 


Denmark 


Y 20,000 


7Vt 100 


Noncaiobia. hdsemofaio in US. dolart or 19172 yon par 
doOor, for a total of $1002 iriBon. 


Passbook Savings. 


IBM Craft 


y 25,000 


Tax Exempt Bonds 
Band Buyer 36-Bend index. 


B 101% 


Gakbift erf pc* ad erf 209 yen per dofla in 1993. Redeem- 
able in US. doloa ar 208 yen per dolor, far a fatal af 
*1202 mSon. 


Money Market Funds 
Doneehue* 7-0 ay Averaae. 


DanskOCe & 
Naturgas 


10 !0Oft 


GbUfc irf 102 bi I99KL 


Bank Money Market Accounts 
Bank Rale Monitor Index 


Home MartBane 
FHLB average _ 


return on the zero is 10% percent 
The zero-issue, erf course, produces 
do annual income for holders as tbe 
10% percent is derived from the 
fact that holders are to pay only 
S22.58 for paper that will be worth 
S100 at maturity. 

On Dec. 31. 2000, the zero bonds 
can be converted into common 
stock at a price of S2I.7I per share 
(or a real cost of $4.90 considering 
the original 22%-perceat payment 
for the bonds). The coupon bonds 
are convertible at a price of $1 1.82 
per share, a 41 -percent discount 
from tbe anticipated $20 price to be 
set on the initial share offering set 
for next month. 


If. in the year 2000, New York 
real-estate values have collapsed 
and bondholders deem it unattrac- 
tive to buy the shares, the bonds 
can be exchanged for seven-year 
floating-rate notes. That coupon 
wQl be set in a range of %- to 1 
percentage point over tbe London 
interbank offered rate: The exact 
level will be set in 2000, aimed at 
assuring that the paper trades at 
par so that holders who want to 
rash in can get the full dollar value 
of their paper. 

The emergence of Japan as bank- 
er to the world — thanks to the 
massive accumulation of cash de- 
riving from ever-increasing trade 
surpluses — was fully reflated in 
the Eurobond market last week. 
Nine issues totaling about $778 
million were marketed for sale to 
Japanese investors. 

Five issues — IBM Japan, Ka- 
wasaki Steel Mitsubishi Corp., Su- 
mitomo Metal Industries and Toyo 
Engineering — were denominated 


in dollars. Because the issuers are 
Japanese, institutional investors 
there can buy the paper without it 
being included in their restricted 
volume of foreign .currency assets. 
As a result, the issues carried ag- 
gressively low t erms which would 
have no appeal outside Japan. ‘ 

Mitsubishi for example, raised 
$100 million for 10 years at an 
annual cost of 10.33 percent com- 
pared with tbe U.S. Treasury’s 
semi-annual cost of 10.6 percent. 

A further four issues, totaling 90 
billion yen, were marketed as dual 
currency bonds. The issuers were 
not Japanese — American Express, 
Credit National. Denmark and 
IBM Credit — who plan (o swap 
the low-cost yen into low-cost dol- 
lars. 

The issues all are to be redeemed 
in dollars at a rate of exchange 
fixed from the outset — 191.72 yen 
per dollar for Denmark in 12 years 
and 208 yen in 10 yean for all the 
others. Annual coupon payments 


of 7% percent for Denmark and 8 
percent for the others, to be made 
in yen, represent a savings of more 
than 3 percentage points over what 
they would have to pay for a dollar 
issue. 

Nevertheless, ip yen terms — 
compared with coupon levels pre- 
vailing in Japan — these are very 
attractive yields to Japanese inves- 
tors. The fixed exchange rate is the 
least attractive pan of the package 
to investors who would have to 
hedge that exposure. 

Bankers warn that non- Japanese 
investors looking to speculate on a 
rise in the value of the yen should 
not be seduced by the high yen 
coupon. Bankers say these inves- 
tors would do much better to buy 
lower-yielding yen or Euroyen 
bonds {whose principal is repay- 
able in yen) than these hybrid in- 
struments because the fixed ex- 
change rate severely restricts the 
potential gains to be made once the 
yen starts appreciating. 


EQUmr-UNKEP 

Aka Kogyo 


1990 7% 100 


NonoJ u bh. Eodi S5JDOO bond wih ana ww m tf w durfrfe 
■to rfxra at 742 yen per Aon aid ct 239.55 yen per 
dolor. 


Detroit Pushes US Steelmakers to Polish Their Performance 


Comcast 


2000 - 7' 100 


— Gedon^<rf118»n7990toyield9.99&CoM«Ale(rf 
$23% per dm, a 2B.19X premium. 


Rodcefeflar Center 
Properties 


2000 open 100 


9935 Coupon infected at 8% until 1994 aid Aw of 13%. 
Nontobfak Convertible erf rarrfunty Mo company's shais 
erf S11-E2 per shore. Abo exdiangeerfiie cgainst a 7-yr FRN 
to fan stood in 2000 whidi wll pay between V4 and t pond 
over JJbor. Term to be mt early Sept 


Rockefeller Center 
Properties..- - t 


2000 zero 22£8 22.06 Yield 10!fi%.!Y'»eca$lfi6faBKnNo^ 

at maturrfy axnptny' s shares of $7171 per shve. Aho 

tudha^odzie opens* a 7-yr HJN fo b* issued m 2CCO wi»ch 
w9 pay between K and 1 point aw tlx*. Term to be set 
eartyS^e. 


(Continued from Page II) 
suppliers, consume an estimated 30 
percent of tbe sted industry’s an- 
nual shipments — and so the steel 
producers are scrambling to meet 
their demands. 

“We’ve heard the message from 
Detroit,” said Duane R_ Dunham, 
Bethlehe m Steel Corp.’s manager 
of marketing. He noted that in the 
past two years. Bethlehem has re- 


duced tbe rejection rate on ship- 
ments to Font to less than 0 5 per- 
cent from about 3 percent. 

(X course, the new effort to im- 
prove steel quality and meet sched- 
ules is not enough to make the auto 
companies competitive with Japan, 
but they view it as a step toward 
that goal. 

“It’s for our own survival and the 
survival of our suppliers," said Mr. 


Costello of GM. “The question is 
how fast can we become competi- 
tive:” 

To spur the improvement — and 
lessen the pain — the auto compa- 
nies are rewarding the sted compa- 
nies with bigger and longer con- 
tracts as well as other concessions. 

One of the biggest concessions 
has been the move from so-called 
multiple sourcing to sole or dual 


sourcing in purchasing sted prod- 
ucts. Now, 60 percent of Ford’s 
sled requirements are met by single 
suppliers and another 10 percent 
by no more than two suppliers, 
according to Paul R- O’Hara, direc- 
tor of metals, petroleum and mate- 
rials purchasing for the company. 

That is a clear break, he noted, 
from not too long ago when Ford 
would look to as many as six com- 


panies for a particular sted prod- 


uct, to encourage competition. 

In addition. Ford is increasing its 
lead time on steel orders to 75 days 
from 60 days to help mills in pro- 
duction planning, and it now is 
making urm commitments on de- 
liveries as much as five weeks be- 
fore scheduled shipment. Former- 
ly, Ford retained the right to caned 
an order only days before delivery. 


AS the securities having been sold, this advertisement appears as a matter of record only 


June 1985 


All the securities having been sold, this advertisement appears as a matter of record only 


June 1985 


N.Z. $ 22300,000 

FINANCE CORPORATION OF NEW ZEALAND N.V. 


(incorporated with limited liability in the Netherlands Antilles) 


16Vi % Guaranteed Bonds Due 1989 


N.Z. $ 40,000,000 

THE RURAL BANKING AND FINANCE CORPORATION 

OF NEW ZEALAND 

(established in New Zealand under the Rural Banking and Finance Corporation Act 1974) 


UicflifitiMally and irrevocably gwaatced by 

Brierley Investments limited 


16% % Guaranteed Bonds Dne 1990 


(incorporated with limited liability in New Zealand) 


Uncaafitiwilly aad irrevocably gmnateed by 

Her Majesty the Qneen in Right of New Zealand 



BANK GUTZWUXER, KURZ, BUNGENER (OVERSEAS) LIMITED 
BANK BRUSSEL LAMBERT N.V. BANK OF NEW ZEALAND 

FAY, RICHWHITE A COMPANY LIMITED NOMURA INTERNATIONAL LIMITED 


YJPls 

Ri/RAi. gftr'vr.7 ' 


RANK GUTZWTLLERr KURZ, BUNGENER (OVERSEAS) LIMITED 

BANK OF MONTREAL BANK OF NEW ZEALAND DAIWA EUROPE LIMITED 

HAMBROS BANK LIMITED THE NIKKO SECURITIES CO n (EUROPE ) LTD. 


DGBANK DEUTSCHE GENOSSENSCHAFTSBANK 
LLOYDS BANK INTERNATIONAL LIMITED 


E. GUTZWTLLER A C2E 
NEDERLANDSE CREDIETBANK N.V. 


ALGEMENE BANK NEDERLAND N.V. BANK BRUSSEL LAMBERT N.V. 

BANK J VONTOBEL A CO. LTD. BANQUE GENER ALS D U LUXEMBOURG SA. 

DG BANK DEUTSCHE GENOSSENSCHAFTSBANK FAY, RICHWHITE A COMPANY LIMNED 

GENERALE BANK NEDERLANDSE CREDIETBANK N.V. NOMURA INTERNATIONAL LIMITED 


All the securities having 


been sold, this advertisement appears as a matter of record only 


July 1985 


New issue 


AH the securities having been sold this advertisement appears as a matter of record only 


July. 1983 


A$ 27300,000 

FINANCE CORPORATION OF NEW ZEALAND N.V. 

(incorporated with limited liability In the Netherlands Antilles) 

14 % Guaranteed Bonds Dne 1990 

' mmd hren n Hf «uui»tec* by 

Brierley Investments Limited 

(incorporated with limited liability in New Zealand) 


3 


N.S. FINANCE CORPORATION N.V. 


{incorporated In the Netherlands Antilles) 


U.S. $ 15,000,000 - Guaranteed Floating Rate Notes 


coo prising 

U.S. $ 5,000,000 Series E Notes Dne 1987 
U.S. $ 5,000,000 Series F Notes Dae 1988 
U.S. $ 5,000,000 Series G Notes Dne 1989 


ItDcamStfooxIiy gnarafee d by . 

NEDERLANDSE SCHEEPSHYPOTHEEKBANK N.V. 


BAN K GVTZWDJJX SVRZ, BUNGENEX (OVERSEAS) LOOTED 

DAIWA EUROPE LOOTED 

BAtfKOFSEWZEAU^___ scHAmBAm LLOYDS BANB INTERNA310NAL LOOTED 

DG BANE DEUTSCHE GEN SECURITY PACIFIC LOOTED 


BANK GUTZWILLER, KURZ, BUNGENER (OVERSEAS) LIMITED 


Tnjv BANK OF MONTREAL K GUTZWILLER A C3E 

SANK BRUSSEL ^ NEDERLANDSE CREDtETBANK NV. 

ZZ. ^sswmTEA COMPANY LUVi RABOBANK NEDERLAND 




RABOBANK NEDERLAND BANQUE NORDEUROPE Sji. 

NEDERLANDSCHE MIDDENSTANDSBANK m DG BANK DEUTSCHE GENOSSENSCHAFTSBANK 

BANK DER BONDSSPAARBANKEN N.V. A/S JYSKE BANK 

FENNOSCANDIA Ltd. 


J 


- ***: Wauntn v 





MSD^NaiwnalMaito 

Consolidated trading for week ended Friday. 


Sam in N** 

lOOs Won LOW Ctew OToe 


7V» + Hi 
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471 m 
268 4 
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131 8 * 
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44V. 43ft 
13 ft 12 ft 
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House of Berf 

iii die Washoftiiin Mjmiw 

- OUR M*h YEAR- — “ 


[INVESTMENTSTRATEGIES '85 

!| |i;. iNO IV. GUJSTtR f 

I WITH G0RBATCHEV 
Lno REAGAN 



Last Week’s 

AMEX 


AMEX Most Actives 



4ft — ft 
14ft + ft 
4* — S 
29 —I 
13* - * 
18 + * 
5ft —ft 
II* +1 
IBM + M 
33ft —1 

,ft -a 

Sft + ft 

HI +ft 
MM + ft 
13 + M 

13ft —ft 
2 — * 
13 —1* 

13 + M 

3ft 

lft 

36 — IM 

5 ft — M 


LaslVfekis 


NYSE Most Actives 


47ft -1* 
29ft +ft 


AMEX Diaries 


NYSE Diaries 


09 SHSI- 


OfflWBH 


TMsWK UnT WK 


TMsWk LOU Wk 


Advanced 

Declined 

llndtanoed 

Total issua 
Mow HWu 
New Lows 


256 306 

504 443 

W7 MO 

905 909 

27 55 

37 25 


Advanced 
De clined _ 
Unchanged 
Total lines 
Mew High* 
Now Lows 



16 16* 
15ft M 
64ft e 

am si* 

4ft sft 

*2* » 
19* 19ft 
12* 12W 
5 

21* 


AMEX Sales 


Town lor week 
Week ago 
Wot am 
Jon 1 to dole 
1934 to dale 
AMERICAN BONDS ■ 

Total lor neck 
Y«if ana 


J6J0WXX) T _„, 
4 X 160000 ! Tala. 

jOifSuxn 
l.KAAHUMO 
943 . 170 JMO 


.12 

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180b 28 

181 

48 

80 

58 

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14 

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14 

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23 

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13 

44 

38 

,10* 14 

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28 

400 38 


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t£& m " ,S“ « 

ESS* M 24 M4M* Wft 

ISK? ■n St -S Si- ft 

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ass. ijo " “s* s*Sla 

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SS3 ^ ^ a L EtS 

US5S? as a am S5 5 ift^S 

tes « a bSmBoBi -S i* 
SBSi ^“*^3 2S + B 

SvcFrd 26 5ft 5ft 5J- J 

5*vOafc .16 J U60W W 

Shrftftd j 1+ 337630ft M 30ft- Vb 

Shwmta L6B 4J TTOM' ^6 36 — ft 

Tncffrr 1 .16 J 6082 Oft 19* 19*— ft 

SMuTs 78611ft WM 10ft— ft 

amt .is J 7*«SS Si S* ti* 

SlwnSai 292917* WJ « +1 ^ 

Shnail 24 5 4M 4M— * 

StomaA JO J 15469* <7* 67*— 2* 

- 27 7* 6ft Aft— M 

17* 5* 5* 5ft— ft 

2201 7 6* 6ft— ft 

SIHcanS 29813ft 13 13 — * 

MOM 29217* 16ft 16ft- M 

Sfllcnx 1W2U4 20 * 21 + * 

H Hoc ,44° 5ft $ — ft 

SIvSfMn 1678 In 1 — » 

SbnUr 101617 IM MM + ft 

amhl JO SL1 35S1& 15* 15*— ft 

SStlTo M» U* 17 13* +1 

JbCp 72 S 4ft 5 

SteUWS 91216* 15* 15ft— ft 

SklHW J6 J 133 9* 9* 9* + M 

5fcy&® 243 3* 3 3 - ft 

ISonTc 51710 * 9 1 W + ft 

SmHtlL 772 2ft 2ft 2ft— M 

SmffllF , 101912ft Wk »5il£ 

i SnetSnl 1 Jftti 12 7ft 7* 7* + M 
Society 1J4 40 62648* 45 45*— 2ft 

i3S£ «5 ’K 

iBsa 

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SonocP % J8 U 57327ft 26ft 27 — ft 

sSS?M *5e Z4 38221ft W* l»*-2* 

SoMlcG 152b 74 4820* T9* X 

SoBcSC J8b 34 117 27* 36 96 — ft 

SOtWt 1 JO 88 565*2* 22 17¥* + ft 

SqHmB 301 4ft 4W 4ft— ft 

SlKS. 02 U 573 23 U. 23ft 34 -1 

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SwEISv 148 6 7 1728* »ft 28* 

Sovran .10 U 3907 7* 7ft 7ft 
Sovran 148 40 143743ft 41ft 43 — ft 
SpcMhC IM lft IM Hk + K 

SaanA 959 12* IBM lift + ft 

Speedy 69818 16* 16* —I 

Spdran . 147625* 23ft 25* + ft 

SpecCH JM S 437 7ft 4ft 6ft— ft 
Spctrm 7214*0*14* + * 

SoerHO 82 2ft 2ft 2ft- U 

Spire 12815* 14* 15* _ 

StnrSr * 742 6ft 5ft 5ft— ft 

SlatBM 30 38 1023 6* 6* Oft— ft 
Slandvs 140 34 72526* 25* Uft + ft 

SlCTab JO 13 T2221* 2D » —1 
SUMlc 250717 15* 15ft— ft 

SIReos 40 IJ 143434 31 31*— 2* 

Standon 53 7* 7ft 7ft— ft 

SttBlMT 107 15* 15 15* + ft 

Staabos 120 5J 49 ‘g* 22* 22* + ft 

Standy 340 2% 2 2ft— ft 

3WCSSB 1J0 1J 71262 SM 62 + * 

States ,15b 34 993 4ft 4 4 — ft 

SWMT 1313 4ft 4ft 4ft + ft 

StemrL 192 Bft 7* 7ft— ft 

SlewStv M78 15ft Mft 15ft— * 

StWInf 37 10 19234* 24* 34*—* 

StswSn .15 M IN » » » 

SUM 166 6ft 6ft 6ft 

StefcYte .M 3 87U 17 17*- * 

SlackSv 256 9* 9 9* 

Stratus Ton ig* 17 17*— * 

StrwCll M 22 10735ft 36* 35*— * 


SoMlcG lJ2b 74 4820* 19V 

eppy-y .Mi 14 U727* 26 

ISw 140 88 565*2* 22 

SoHosp 301 4ft 4* 

SlbdFn 42 2J 53325* m 

soutnd 40 34 57418 m 


SpanA 
Speedy 
SpcTran . 
SpeeCtl 86 
Spctrm 
Spemo 
Salre 
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13ft 12* 
lift n 
I* 8ft 

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13 13 

14ft 15ft 
Bft. Bft 
7ft 7ft 
17ft 17ft 
15* 16* 
14M 14ft 


Stryker 

ShjOS 

StuarlH -05 U 


100535 * 33 * 33 M— lft 
11523 * 22 22 — 1 ft 

63 4 ft 4 4 — ft 


XL Data 

406 U* 

Uft UK- 

Xebec 

2257 lft 

» . * . : 

xw»r 

1796 V* 

V m * 

XMcx 

7074 Uft 

Uft W 7 


& 


148 18 570 71 V, 165 171 46 

85 1.1 62 4 * 4 ft 4 ft— ft 

1-92 32 SntSM 3 S& 60*— 2 

Sudbrv 149 9 M a* Bft— M 

SuflSB .Me 18 29419 * IS* IBM— * 

Sumna not 3 * 2 ft ra— * 

Summed 540 40 40 — * 

Sunttes J 6 48 312 MM » 24 ft 

Sum BA PIS 41 554 54 54 — M 

Suntt-H .10 J 1877 12 ft lift 12 . — ft 

SonCet 408 1 % im l%— S 

SWKdr 2143 760 5 ft S* 5 * + ft 

SunMed <4 0 Bft Bft 

Surat Fd 34 4 ft 4 ft 4 ft 

Bt wftte 1914 * 13 * 13 *—* 

Swnnt 140 U SI 44 ft 43 44 — M 

SjijRte 30 3 ?W 24 22 Vj 22* -1 

SupScv 6 Oft 8 * 8 * 

SwtrEI UOtllJ 24311 * 10 * 10 ft— lb 




4360 3ft 3* 
T8.424M 9M 
-68 18 56318* IM 
139 2* lft 
,48a 48 264 IT* a. J 

IJ6 05 40139 3m. 

406 JU, Vk 

IX A* lft 
881 J M*n 'lift 1 
152017* IOt. 

* I* m 

5*95 3* m- 



S«A«ftat »34 3ft 31b 3ft + M 

SuarEa 36 7ft 7* 7*— ft 

SuraA/ 2710 9* r.y— ft 

SarvTc 17 10* 9ft »ft- >i 

S»k« u 666 ft ■ ft ft + « 

SvtnTk Mil* 13* 13*— ft 

337 3* 3 3Vl + ■« 

SvmbT 35411ft Wft 10’k- ft 

Symtrltc 510713* IT^i 12>.— 2 

Synteelt 136613ft 12ft 1]', * * 

Srntrex 1183 3ft 3 ^_ . 

Srteon 26 1 a imr-u 18 18 * . 

| tf *we* 15«» 5 . SC 25 ; - , 

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t Prior Cans Put . 1 

Bate 

44ft. 

44ft 

CBS 

41 

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X 

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22ft 

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r 

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MU 

a 





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40 

r 

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Menu 

a 

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lft 

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15 

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r 

r 

r 


m a. 

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nmtm 49 

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mu x 
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am » 
sm* as 

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woreCm » 
29 X 
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wt x 


49k r 
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TV, WU 
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lft M6 
1 r 

r ft 


lft IK 
ft r 


Mutual 

Funds 

Fioorn ca ot dose of InxUno Friday 


AlMSt X 2ft 

Sift to M4 
ApocbetM r 
Brtttfty 55 Sft 
99ft « 1 7-1* 
sm a 5-M 

sm » vu 

Brum 35 3ft 

v a ft 
OHm IX r 
nm us 3 

I7FU IX 2 
Chumta 22ft r 
zrv. 25 5-U 

ChryUr X 4ft 
am X 2 
24ft 49 3-16 

Compsc X lft 
. ana 22ft ft 
DowOi X I 

maw 

25ft 40 ft 
PBa« M ? 
MTU 49 4K 
44ft - 4S 15-14 
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CMnBI SS 7 

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DM £5 4ft 
4Sft X 1ft 
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in BI VU 


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r ft 

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4ft r 

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7 M4 
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1 4ft 
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r 2ft 
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lft ift 
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55 

lft 

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r 

25 

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35 

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40 

7ft 

45 

3% 

50 

1ft 

45 

12ft 

9 

7ft 

54 

Ift 

9 

IK 

SB 

20ft 

55 

15ft 

9 

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i 

70 

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75 

1M 




Unlohn 

75 

90 

40 

r 

1 

27 

r s 

r r 


95 

19V. 

f 



100 

Uft 





lift 


2 4 



Bft 

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Sft 





4 




125 

2ft 

5ft 

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,13ft 

IX 

1ft 

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7-16 

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7 « 



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r — No, 

Total VWume: 340482 
Open interest: 5*n*B 
roded. »~None otlwod. o-ONL 


Over-the-Counte* 

Consolidated trading for weak ended Friday. 


Soles In Net 

lQQs High Low Lost Chin 


Scdasln Met 

100s Htah Low Lost Ch'oe 


Softs In Not 

100s High Low Last din 


JMB 1.64 9.1 718 IB IB 

iS&S, . i£ + % 

jSSn® 1.40 4 J IP 29ft 29ft + ft 


AA Imp 
AWAS 
AdvROS 
AtfvtLdS 


UiWDpt 
CmHzun 
CmpSvc 010 
Comtrax 
Conceal ■ 

Contra MB 3 
CnCal wt 
CflHDwi 
ClIHltun 

CorvS Pf 3JO 11 A 
CdusiiH 

CrttHou _ ' ’ 
CrwfdC J1 J4 
CrwnA 36 BjO. 
CustCrs 
OnCuns • 

CuJco J4 14 
CYbertk 


190 3ft 3ft 
511ft HVk 
1415 13ft 
1403 7ft 4ft 
IX 4ft 4 
120111k lift 
22 2ft 2ft 
157 7ft 4 
1628ft 18 
3827ft 27 
627 7ft 4ft 
M Sft 21b 
167 ZTft 20ft 
13 6Vk 6ft 
«l tft 
31 9ft Bft 
49 3ft 3ft 
251 Sft 9ft 


3ft 

lift - ft 
14ft +lft 
7ft +1 
ift 
lift 

18ft— lft 
27 —ft 
Mb- ft 
2ft- ft 
20ft— lft 
Bft 

Oft— ft 
Bft— ft 


KnCtvLS M 17 11226ft 2SVII 25ft— ft 

KYlitvrf S 2JS 511ft lift Uft 

KJSSi 22714ft 12Vb 13ft +1 

kESEi 922m*. “ & 

S sh S sift 

KtorfG 1J20 55 255331ft 2Hb 3lft +2ft 

Knanev 140a 19 5438 X 36 — 2 


Sft 9ft + ft 
4» 5ft— ft 
9ft «ft— ft 
13ft 13ft— ft 
5ft 5ft- ft 
Bft 6ft— ft 
Bft Bft + ft 
5ft Sft- ft 
Sft 3ft 

4 5 + 

Wb ’IS* .. 

Mb 9ft + Vb 
Bft Bft— ft 
13 13 — ft 

4ft 4ft— ft 

SC St=* 

5 5ft— ft 
12ft 17ft— ft 
Sft 5ft - 
15ft 15ft 

ft ft- ft 

&& y 

17ft 2OT4 +lft 
5ft 5ft— ft 
ift ift 
2ft 2ft— « 


EBMOT 
EaoT wtC 
Eastmt 315 
Eatvai M 15 
EdgStts 
Elctnras 

i£&*15» 15 

EnrVnt 

EnaMoo 

232 Si 

Exar 
Expdi un 


47 81b B m 
ft J* 

1469 2ft 2ft 
12X 29ft 
34021ft 20ft 
2MT7 16K 
20914ft Uft 
202 4BK 48ft 
50 8 8 

Sk 5 

27K 27K 
574715 13, 

31012ft lift 
74116ft 15ft 


TS-* 

2ft- «■ 
29ft— ft 

nv * .. 
14ft- ft 
14 — ft 


27ft 

13ft + ft 
12ft— ft 
16ft + » 


Lacan g 

Ladiwpt : 

LdTT As 

Loncer 

LndlPV 

Lanosno 

LoswrCn 

Uelno 

UncFIn 

Unci-fe 

LouG Snt 

LouGpf 

Luskin 

LvdnPIt 

LyanMt 


MCI wt 
MCMOp 
MSI El 
Mam PI 
Mognal 
Magnet 

Maklta 

MarPet ! 

MattiAs 

Maxca 

Maxtor 

MkMC 

Metrdo 

MatttdA 

MethdB 

MttroSv 

MewrPk 

Mlctu 

Mtcrbto 

Mine Sot 

MnrR* 

AtacHalr 

MuimA 

Musto 

MutREl 

Ui.mll 


175 Bft 
20635 
2511ft 
120714ft 
19 9ft 
11 9 
214 Bft 
544 Sft 
1251ft 
5227ft 
B lift 
IB 17ft 
*«12». 
580 5<1W 
19ft 


9fc— fc 
34 + ft 

lift— ft 
14ft — ft 
9U<— ft 
« 

Bft 

Sft 

51ft + ft 

2Mk 

lift 

17 -ft 

I Vk + Vi 
19ft 





AUTO RENTALS 


274B lh> 1 
2511 lDft 
14 2ft Zft 

» 3Vb 3 

1004 16 15ft 
35 9 9 

24520ft Wft 
816 16 
283 3ft 3ft 
■ 338 3ft 3 Vi 
10851 12ft Uft 
114 ift ,4ft 
19113ft 13ft 
> 9i714ft 13ft 

r 16 13ft 13ft 

42818ft 17ft 
214ft Uft 
} Bft BA 
141 4 3ft 
5 2373 70 




141 4 3ft 
2373 70 

4332 Bft. B 
134 9 BK 
3» & 
1411 4 » 

4 Bft 9ft 
958 lft 1ft 


1 — ■* 
10ft— 'ft 
2*.— 1» 
3 — 
ISft— ft 
9 

19ft + ft 
16 

3ft „ 
3>i— Mi 
ir-b „ 
ift— ft 
Uft + ft 

il-,» 

lift 

Bft 

Sft - ft 

70 —3 
B + ft 
9 + ft 

5ft 

4 + »» 

lft— 


Nanamt 

NarroC 120a 7J 
NIBusSv 
NlGuard 
N Porno 
NwAFn t 
NY Mar 
NwldBun 
Nwpk wt 

Nissan -09e 18 
NCarSL . BO 
NoTnni 272 IS 

NwEno 

NwNGpt 237 J5 
Nowscg 30 11 




ift ift— ft 
41ft 41ft — ft 
17ft IB 
lift 12 + ft 

Uft 13ft 
X 34VS + ft 
Uft ,5ft- ft 

Sft 5ft— ft 
7ft 7ft 
71 71 - K 

SK 3ft 
27ft 28 —lft 
lift lift — ft 


TEL OH 

TSCCP 

TacVila 

Tarovt 

TovIrDv 

Tcndvn 

TecoPr 

TiOn wi 

TlcmB 

TelMex 

TenVEn 

TeraMs 

Tents 

ThrnAV 

Thirrfr 

Tirtflv 

TofcloF 

TnBraa 

TwnClrv 

Toyota 

TmNLs 

TriStar 

TrStrvrt 

TrStrun 

TrlbSwb 

TrlCDPd 

TrtnRsg 

TrloTch 

TrilonG 

TrlinlC 

TrsfNJ 

TurtPor 

302 Dm 


m»3U 104310 Bft 10 
3 lft 1ft Ift 
IX 5ft Sft Sft 
907 2ft 2ft 2ft + ft 
IS Jft 2ft 2ft 
514 Bft 6ft 6Vb — ft 
4X267 3 1ft lft lft , „ 

47216 1 Sft 16 + |k 

I X32 31ft Jlft- ft 

" t. t:% 

.978 1.7 373 4Vk 4Vs 4ft- V« 
17 4>« 4Vk 4'i 
10* 21 106 41k ift f* + ft 

J3* 46 90 5ft S 5 — ft 

3212'- lift lift— ft 
lJUe A 323BI 174ft 179 —1 

374 3ft Tft 3ft- ft 

40610ft 10ft 10ft 
JJ4T A 1X4 9ft 9ft 9ft— ft 

I 3ft 3ft 3ft 

824 9ft B Bft— ft 

313 Sft 2ft ,2ft- ft 

51412ft 10 11 —1ft 

1299 14k lft lft + ft 
un 24 1X42 42 42 

49 2M. 217 2ft- 

41 9ft Bft 9ft 

6544 ITk lft lft— l*» 

1J0 KUO 70612 lift 12 

UOe11 It *5' 

653 3ft 3ft 3ft 


44713ft 12ft 13 — 


international classified 


(Continued From Back Page) 


AUTO CONVERSION | AUTOS TAX FREE I AUTOS TAX FREE AUTOS TAX FREE 


AUTOS TAX 






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LHD. Mercedes Tax Free 
limaunM 34" 1,4} 

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Unlflwt 

UaSolC 

U Count 140 3J 
UFdBk J2 IS 
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40 5ft 
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33 41 
2049 21ft 
5 11ft 
25ft 
91211%k 
557 lft 
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1 14ft 
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148 5 
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138024 

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XI Uft 
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JOb U 7718 
IX 10ft 
292418ft 
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20e .7 829ft 


4ft— 1 
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21 + ft 

Uft 
25ft 
9ft— lft 
lft 

52 + ft 

16 

4 + ft 

5 + ft 

Uft— 'A 

5ft 

47 

44ft + ft 


22ft— lft 
7Tb + ft 
4 — ft 

33ft— ft 
34ft + ft 
12ft +!ft 
2ft — ft 
17ft + ft 
10ft 

18ft +lft 
9ft- ft 
29 ft 


l)..V:li7.V 4> . •'U 


TAX HS CARS 
P.CT. 

maim afl nodah, brand now 


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186 

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Flooreaosado^altruatneFrUoy 



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Page 16 


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PEANUTS 


I LIKE TALKING 
TO MY 6RAMFA. 




books 


JL 


BLONDIE 


I COME ON, H ONEY. .- 
|r7T5 TIME TO GET j 
UP 


I WONDER WH*T THE 
old sractula TPtoc 
IS? 


ACROSS 
l A Roosevelt 

; 5 Passover feast 
; 10 Start of a C. 

Moo re poem 
: 14 Egyptian sun 
\ god 
; IS Jibe 

« 16 Pan of a scale 
17 Plantation 
machines 
lOPt.ofa 
monogram 
. 26 Where Castro 
‘ got started 
‘ 21 James Bond 
foe 

23 Frail; weak 

25 of Ohio 

(McKinley 

’ epithet) 

• 26 Vehicle 

displayed in 
New Orleans 

26 Sights in 
Newport, R.I. 

32 Custer's last 
major 

33 TV network 
leader 

* 34 An O’Neill 
36 Opposite of 

apterous 
. 37 Is solicitous 

38 Fox 

39 Lux. neighbor 
46 Hunter’s hider 

, 41 His lies caused 
uxoricide 


42 Nap 

44 Gave a leg up 

46 Three scruples 

47 Factotum 
49 End of Yale's 

motto 

52 Trattoria rice 

/lich 

56 Wake-robin 

57 Hawthorne's 

“ Tales” 

59 Montague, for 
one 

66 Succeed 

61 

62 Role 
played 

63 Did some 
tailoring 

64 Open 

policy 


DOWN 

1 City in Maine 

2Cupid 

3 Meat dish for 
Marcel 

4 Forward 

5 Wes, the 
former miler 

6 Robbed birds’ 
nests 

7Bacbellerbero 

8 Poetic times 

9 Postponements 

19 Ribbed cloth 
for dresses 


11 Deep-sea 
rooUusk 

12 Moslem lord 

13 Locale 
18 He’ssui 

generis 

22 V- 

(5/8/45) 

24 Had cravings 

26 Kind of race 

27 His catches are 
slippery 

28 Instruments 
tor Buddy Rich 

2V Pungorlugs 
31 Agamemnon’s 
action at Troy 
33 This may stab 
or shoot 
35 Nudge 

37 Milieus of a 
sort 

38 Surged; 
swelled 

46 Calf’s cry 

43 Sevastopol is 
here 

44 Extolled 

45 In addition 

48 Old fort timber 

49 Barometer’s 
forerunner 

56 Of an epoch 
51 Rational 

53 FUSS 

54 African 
republic 

55 Stettin’s 
stream 

58 Austral, state 



BEETLE BAILEY 


WHY 90 YOU ALWAYS 
GlMB ME A HARP TIME 
ABOUT EVERYTH I Ng^, 
BEETLE? 


THE ONLY PROBLEM 
THESE PAYS IS 
FIN PING ANYONE 
IN AUTHORITY 


O N law York 7btks, aEtad by Eugene Malabo. 

DENNIS THE MENACE 



'All I KNOW IS HE WINS BREAD AN 1 B»N6S HOME 
THE BACON...ALLFOR A DOLLAR AT3AY-' 


THAT SCRAMBLED WORD GAME 
a by Henri Arnold and Bob Lae 


Unscramble these lour Jumbles, 
one totter to each square, to toon 
tour ordinary words. 


VEFER 


uz 



SNABI 





TEACKS 

IX 


t 


1 


BELTOG 


ncnc 

□ 

□ 




TOE NEW KGB: 

Engine of Soviet Power 

j|y William R. Corson and Robert T. Craw- 
ley. 560 pages. $19.95. 

William Morrow. 105 Madison Avenue, 
New Yak, N. Y. 10016. 

Reviewed by David Wise 

V IGNETTE No. 1: On a recent trip to the 
Soviet Union, I dined with Victor Uus. 
the most famous reputed agent of the osjo. 
f nnic , who says he is a journalist, is so engag* 
ins and articulate man. Westernized in wan- 
ner, and he spent the time at dinner in spirited 
defense of the Soviet system. At the end of the 
evening, he climbed into a gl e a m i n g suver 
Bentley and drove off into the night- 
Vignette No. 2; A few years ago, I dropped 
off my car (not a Bentley, not gleaming) to be 
serviced at a garage in my neighborhood- An- 
other einyfrwner offered me a ride home. It was 
only later that 1 realized my benefactor was 
Robert T. Crowley, who had been the assistant 
deputy director for operations of the Central 
Intelligence Agency. Crowley, now retired, and ■ 
w illiam R_ Corson, another former intelli- 
gence m a n , have written a detailed and reveal- 
ing book about the KGB. I doubt that Crowley 
and Yictor Louis (whose real name, according " 
to -The New KGB,” is Vftali Levin) have met, 
but if they could, it would make for a fascinat- 
ing evening. The relative merits of the CIA and 
the KGB, and the two contrasting systems that 
bred them, would be discussed with consider- 
able wit and erudition. 

Intelligence agents live in a world that is 
rather different from ihai in which die rest of 
us reside, and they tend to think differently. 

As only one example of the complexities of 
this subterranean world, Corson and Crowley 
recount the strange case of Yuri Loginov, who 
was arrested in South Africa in 1967 as a Soviet 


cans” to be odd, since iflegals are the slipperi- 
est of intelligence eds and the hardest to catch. 

The hnpficaticra, although the authors do 
not say so direedy, is that Loginov was sent caxt 
in order to be caugfaL The authors rite a report 
that Loginov supported tire story of another 
defector, Yuri Nosenko, who had turned up in 
Geneva three years earlier. Nosenko discount- 
ed the allegations of a previous KGB defector. 
Anatoli Golitsin, who had warned the CIA that 
it harbored a high-level mole. The argument 

Solution to Friday's Puzzle 



over N«wnL°’ s **** 1 

leading lo resignations , > 
within the 
end. Login c*. ^ 
to the confusjoi^ti* 
view of some expe rts, te TMar aanm^g 
fact a dramatic success. p ■ 

Yet the CIA. thtrcader shod* 
has permitted only whal it w«M* frseoBb. 
lishcdaboui the KGB to *pp« m ftoboct 



As a former CIA officer, 
mil the book w *e agency fwctohaK&Tfe 
CIA saw he did so. It also says tWCflttoa ^d 
not submit the book and was not so 

-The New RGB" is mistitlcA since fetafe 
of this study deals, noi with ihcttifcfetg KGfi, 
bur with the history of the **o< gi«u”d f Sariy 
state security. Oncmustplaw tasamsp^^ 
detailed examination w the cvonmtte of , 
Cheka, the OGPU. the NKYD, the h(VD«^4 
so on. as weH-aS descriptions of Sntiettjfe. 1 
nanigans by various cowncrp al mat if gg 
Soviet government to find the nuggets —box 
they are there. 

For example: Corson and Crowhww Yuri 
Andropov, the first head of the KGB to bo. 
come leader oT the Soviet Union, and terno*. 
rt. Viktor Chebrikov, now bead of fee KC&, 
met years ago on a dull bur rancmic as^o. 
menu a KGB promotion pandoo which tin 
two men served for two woks, not they stayed 
in touch. In 1955. when Andropov ms KGfl 
resident in Hungary and later wnfaw ador, he 
sent for Chebrikov as his deputy. Tire two mn 
their spurs the following year when Soviet 
tanks and troops crushed the mob m Buda- 
pest. When Andropov came to power in No- 
vember 1982. one of his first acts ms lo ap- 
point Chebrikov head of the KGB. 

There is tradecraft galore here, descriptions 4 *} 
of how the KGB goes about compUiag bsa of j 
infant deaths, finding defunct bnsmewes, 
schools and addresses to build tmchecfa&s 
legends for its illegals. There is an account of 
the spy school at Bykovo, near* Moscow, where 
Soviet agents were allegedly taught to pass for 
Americans. Thev were required- to memorize 
batting averages' and were taught by a faculty 
that “understood the importance (for legend 




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□DDE □□□□□ 

a 

aBanaa aanana 
aaasaaaaa 
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naasQ □□□□ 

cede aaaaa aaa 


|M|A|N|HlO|L|E 


purposes) of baseball radio, hot dogs, and 
apple pie.” Bykovo, accor ding to the a ut h or s, 
even had a roller skating rink. 

“The New KGB“ spends a great deal of tune 

-■ ^kaudo 

were re- 

_i the KGB is not 

Rotary Cub. The denunciations of the 
Soviet system tend to detract from the narra- 
tive. Stul, the authors cannot conceal their 
admiration for Hans GallenL a Soviet agent 
who showed astonishing ingenuity in outwit- 
ting die British secret service and tradciag ji 
down “Scon. " a cipher clerk in the British 
Foreign Office. The case is a tale well told. 

Corson and Crowley rive a bal anced a p- 
praisal of Andropov as KGB chief, conchxfi&g 
that be was a man of considerable skills as an 
administrator. Andropov chore bis young offi- 
cers with erne: “The group cannot be seep as 
resembling political hades W 'ticket punchers’ 
of the soc seen in the past Rather, they are the 
‘best and the toughest 1 the Soviet system has 
been able toproduce in nearly seven decades.” 

Dand Wist mites frequently about intcBi- 
%ftnx. His lami book t3~fke Children's Game," 
a novel of espionage. He wrote this review for The 
Washington Post ' 


BRIDGE 


By Alan Truscoct 

O N the diagramed deal 
West reasoned briffianily 
in defense to four spades. 
North’s four-heart response to 
one no-trump was an optimis- 
tic Texas transfer snowing 
spade length. The gamble 
seemed about to pay off when 
the heart nine was led and East 
took the ace. 

East shifted to the chib nine. 
South played the king and 
West put on his 
Did hs partner have a ; 
ton or a doubleton? 

Most players would take the 
ace and return the suit, prefer- 
ring tire chance of a quick ruff 
to a doubtful slow one. But 


West looked more deeply, (hie 
ruff would not serve to defeat 
the contract: a fourth trick 
would have to be found some- 
whera 

This would have to be in 
trumps, so East would have to 
have the ace doubknoa. In that 
case the defense could more 
three aces and a dub ruff, but 
only if West made the right 
deosion at this paint. 

After some thought West 
played die seven of clubs and 
defeated the contract. Eventu- 
ally East scored a dub niff. 

The reasoning involved was 
a delicate compliment to East's 
ability. With a doubleton 
' : ace and a sinlgcton dub, 
could afford to dday his 


dub lead and should do sa 
The immediate dob 
gesteda doubleton,, 
played accordingly. 


te*. 


fold* 'll 


*, _ 


NOW* 

*rr 




WEST 

♦ >42 

■; as 

c KJ 075 

* ATI 


♦ J 19 a S 3 

||!|i;ij .ff, 

■#* ?{S|S’ 

*IS. 
SOUTH (D) 

♦ k; 

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NnUMH- side imMnrMih Tka 

sm* W«n i«Hdi Cm 

1 NT. Pus 4 0 Pm 

Pm Pm 

West lad (be boon Mao. 


SPORTS BRIEFS 


THE BEST 
THIN© TO SAVE 
FOR OLPAGE. 

Now arrange trw circled letters to 
form the surprise answer, as sug- 
gested by the above cartoon. 


Gross Lowers 200 Butterfly World Recor| 


Camacho Wins WBC’s lightweight Crown 


Fridays 


Print answer frara: |T TT T T T T1 

(Answers tomorrow) 

JimMes: YOUNG IDIOT DREDGE VANDAL 
Answer: A beauty salon la a place where (Ms might 
happen— THE LIVING GO TO “DYE". 

WEATHER 


EUROPE 


BMsrada 

Baffin 

Unroots 


HIGH 
C F 
31 BS 
20 U 

33 »I 
27 81 
31 ■ 
27 SI 

22 72 

23 K 
27 B1 

22 72 

Coda Dorsal 33 Vi 

Daenn 13 SS 

17 63 
29 B4 

34 75 

21 73 

HaJstaW 22 72 

IMM 29 Sf 

i Palmas 26 79 

25 77 

IB 64 

Mo* id 32 90 

29 82 

30 M 
23 73 

26 79 
14 41 
23 73 

26 79 

BayklavBi 16 <1 

ROM 27 81 

Stockholm 20 68 

StnnbourB 25 77 

vantoi 27 81 

Yimou 23 73 

WflfMW 20 68 

Zorich 24 75 

MIDDLE. EAST 

Ankara 
Bdnri 


Mica 

Oita 

Porto 


LOW 
C F 
17 -43 

11 52 
21 70 
19 66 

15 59 

12 54 
9 48 

11 52 

16 61 

13 55 

19 66 

10 so 
9 48 
17 63 

10 50 

13 55 
17 a 

17 63 

20 <B 
16 61 

11 5Q 

12 54 

18 64 

18 44 
12 54 

19 66 

14 57 
12 54 
10 50 

7 45 
16 61 

15 59 

10 50 

20 68 

16 61 
14 57 

11 a 


ASIA 


BalllnB 
Haas KOaa 
Manna 
Haw Dattl 


Talpal 

Tokyo 

AFRICA 
Alatan 
Cairo 
Com Tom 


HIGH LOW 
C F C F 

31 88 23 73 O 

31 B8 22 72 O 

32 90 25 77 fil 

30 86 23 73 o 

35 95 26 79 a 

30 06 19 66 tr 

32 90 26 79 fr 

32 « 26 79 d 

35 95 26 79 r 

28 32 24 75 a 


31 88 18 64 d 

33 91 & 73 fr 

18 64 6 43 d 

24 75 16 41 fr 

24 75 9 48 fr 

M 82 33 73 r 

21 70 12 54 o 

34 93 24 75 fr 


Nairobi 
Tod* 

LATIN AMERICA 

BmnaiAIrcf 12 54 2 36 tr 

Cameo* — — — — no 

Uma II 64 14 57 a 

jyUadcaCHy 21 70 15 59 d 

Rio do Jamba 28 82 19 6 6 fr 

NORTH AMERICA 



Record-setter Michael Gross 


SOFIA (AP) — West German 
mer Michael Gross, rewarded with the 
Orel sunny day of the European switg^,* 
mmg championships, broke his 
world record Saturday in tire 
butterfly. 

Gross was timed in 1 minute 
56.65 seconds, eclipsing the 1:5701 _ 
set June 29 at the national champiofi- 
ships in RjcmschckL f 1 

His fifth victory at Sofia made the W- 
year-old Olympic champion the mast 
successful European swimmer in histS- 
ry. In all he has won 10 first- 
medals at the European 
The external conditions were 
OJC.” said Gross, referring to the 
rain and wind that had hampered swiny 
mers through much of the outdoor men 
since it opmed the previous weekend. 

While Gross has been the individual 
star, the East Germans continued to 
make an impressive team showing. 

Kathleen Nord took gold in the wom- 
en’s 200-meter medley, Astrid Strauss 
won the 800-meter freatyie and the 400- 
meter medley relay team won its event 
Nord was doored in 2:16.07 and 
Strauss’s 8:3145 was the best time for 
the 800 this year. 


By Michael Katz 

New York Times Serrice 

LAS VEGAS — The smart guys, 
the ones who took the 2-1 odds, 
maybe now they will believe Hector 
who obviously 
knew what he was bragging about 

In a performance as dazrting as 
his seqmned attire, Camacho, 23, 
overwhelmed Josfe Luis Ramirez, 
26. a sturdy veteran, over 12 one- 
sided rounds hoe Saturday night 
to win the Worid Baring Council 
lightweight champ io nship . And the 
first thing Camacho said at the 
news conference after winning his 
second worid title was: “I see a lot 

There were a krtaf disbdieveis 
here among the big bettors, and 


they lowered the price on the unde- 
feated Camacho to 8-5, believing 
the tough champion from Mexico, 
who was 91-4 with 74 knockouts, 
would finally shut the big mouth 
from Harlem. It was not dose. 

From his ring entrance, it was 
Camacho's show. He wore a hood- 
ed sequined robe designed as the 
Puerto Rican flag over a rainbow- 
colored, short-sleeved sequined 
robe, which covered rainbow-col- 
ored sequined trunks, which 
nmtcfifld his sequined shoes. 

Camacho's early speed had Ra- 
mirez mesmerized in a matchu p of 
contrasting left-handers. Camacho 
was simply too fast and too much 
of a boxer for the one<GineusionaL 
straight-ahead champ. He decked 


Ramirez with a crisp left hand in 
the third round, bloodied his nose 
and may even have broken it Later 
in that round and never let the 
hard-punching Mexican get dose. 

He danced along a tightrope of 
danger, dodging Ramirez's heavy 
fists and doing every thing short of 
juggling six bananas at once. He 
moved for 12 rounds, perhaps fi- 
nally putting an «id to the belief 
that Camacho’s life in tire fast lane 
has destroyed his body. 

Camacho jabbed, landed combi- 
nations, “dizzied” (his word) Ra- 
mirez several times besides the 
knockdown, and randy was hit in 
return. If Ramirez had him mo- 
mentarily trapped on the 
Camacho ether slipped away 


Atlanta 


CMC 


Detroit 


30 86 
30 86 
30 M 
39 84 
30 86 


16 61 
36 75 
17 O 
17 63 
23 73 


Hointaa 
La Amain 


Jematam 
TMAvhr 

OCEANIA 

AlKHOBd 15 59 8 46 fr 

Sydaav 15 59 5 41 fr 

d-ctoudv; KHtoDBv; fr-fair; ivhallj 
th-Bhowan; sw-snow; M -stormy. 


15 
32 
27 
26 
29 

25 
32 
36 

26 

32 
25 
31 

33 
29 

34 

Seattle 23 

Taranto 25 

WBaEmtofl 31 

Mwercast; pcfiartfy 


Now York 


59 8 46 d 

90 21 70 fr 
81 ZD 68 fr 
79 13 55 fr 
84 13 5S fr 
77 14 57 fr 
M 24 75 fr 
97 23 73 pc 
79 16 <1 PC 

90 23 73 PC 
77 9 48 fr 
88 18 64 fr 

91 2S 77 fr 
84 23 73 K 
35 13 55 fr 
73 11 52 PC 
77 14 57 f 
88 20 68 fr 
cloudy; r-roln; 


Russian Reportedly Sets Hi gh Jump Mark 

DONETSK, Soviet Union (UPI) — RndoffFovamilan, 23, set a worid record of 
2.40 meters (7 feet, 10% indies) in the men’s high jump Sunday at the Soviet Union 
Cup national meet, the news aeenev Ta.« mvnterL 







MONDAY'S FORECAST — CHANNEL: Modoralc. FRANKFURT; Cloudy. 
Tamp. 21 — 11 (70 — 52). LONDON; Stwy^Tamp. 17 - 9 163—48). MAOIUD: 
Oaudy. Tamo. 25—12 177—54). NEW YORK: Portly cloudy. Tama, 29—21 
(84—70). PARIS: Showers. Temp. 20— W (68--SH. T®"* 

27— 16 <81 — 6l).T6t- AVIV: Fair. ramp. 30— 23 (86 — 73). ZURICH: Cloudy. 
Tamp. 20 — 10 (68—50). BANOITOK: 33 — 26 (to — 79J. 

HONG kOHO: Showers. Tame. 31 — 27(88— 91 ). MANILA: Rain. Tame. 29—2 
(84-73). SEOUL: Fair. Tamp. 30- WJM-MI. SINGAPORE: Fair. Tamp. 
31 — 26 (88 — 77). TOKYO: Fair. Temp. 27 - 25 (81 — 77). 


j juuuiua ui m cwi»mui, west, uannmj, uu juuc iu, tym. 

Povaraitsms previous best had been 236 meters, good for third place at a 
Moscow meet earlier this season, Tass said. 

Marauder Ties Pace Mark, Beats Mutator 

MEADOW LANDS, Pennsylvania (AP) — Champion pacer Nihilaior was 
beaten Saturday for only the second time when Marauder tied a worid record fora 
five-ejghlhs-mile track in an elimination heat of the Adios Pace. 

Marauder then easily won the runoff wheo NihiUtor, who last year became the 
fastest 2-year-old in harness racing, was scratched. In the first heat, when he handed 
Nihiktor his second loss in 24 starts. Marauder was tuned in 1:52-2/5. tying the 
record set by Its Fritzin 1983. 

Nihil a tor won the second heat in 1:52-4/5, but a trade spokesman said “he was 
aoi prepared io go for a third heat." 


f ^ 




Tht tntowiaa 

Hector Camacho, left, at work ‘dizzying' Josf Lnis Ramirez in their lightweight title fight. 


ly or tied him up. Itwasa masrer- 
piece of boxing, perhaps the finest 
demonstration of ring Affis since 
Sugar Ray Leonard retired. 

And an the while, his opponent 
still was dangerous. Ramirez, who 
has been fighting prohasireafly 
since he was 14. impasiredy l*!* 
moving forward, looking far the 
one punch that would either stop er 
at least slow Camacho. 

“Let me tell you, that my bit me 
with a body shot and it hated." 
said Camacho. “And he fair ore 
once on the side of the headv tbri 
hurled. Bui like I told you, 1 never 
get hit with the same punch twice.’* 
The 134-pound Camacho, now 
27-0, thus won the second of whri 
he said would be three and pesabfr 
four world titles. He had add At 
WBC junior lightweight tide, abaft* 
doming it when be rniM do longer 
make the 130-pound famf 
Judge Harry Gibbs of 
scored the bout IIS-111, Nttrtan 
Campos of Brazil had it IhME J 
and Mike Jacobs of Enriand 119* 

109 for the New Ycritee. ’-v 
The only blemishes oc Cams* 
cho’s perfonnance were fte-oa*- 
slant warnings for boldifigaRdhd* 
hog — a favorite maafimr— 
for low blows; 

“I don't know about tin s£ m 
said Camacho of referee 
Lane. “He ined to get in fbe pfc- 
ture. I said. 'Come on. bcodrex; tKs 
is my show.’" 

■ Lora Takes Baotoai T&fc 
, Miguel Lora of GAanhtl 
the WBC bantamwe»hf rifle ftfl 
Daniel Zaragoza of MstiwOR^* 
mghL Rooting tire dif^pn 
three times on the way toEffiRR* .. 
rtwus 1 2-raand deriaon. Ite 
oated Pres reported from 
Lora t23-C)sent2i 
to the canvas in tire w «._- 

nght-hand knockdown, 

(hat round Lora 
'dt uMk-j swti came oh 


: <• 


l.-K 

i f: r 












INTERNATIONAL HERALD TRIBUNE, MONDAY, AUGUST 12 , 1985 , 

SPORTS 


Page 17 


41 



Green Is PGA Leaderby3 


By Sally Jenkins 

H'affcitrftm Post Service 


ing the past three years was in the 

WhsUngm Post Service 1984 Southern Open. “I djed l two Trcvbo 

DENVER— Hubert GreeD shot years ago. be said. But my game ^ * 

dTth PGA Ctampioiahip as toe 1°™, ’“ d " ’.^SZd ?65 Med that ll 

Chary HDls Countiy Club course ^ t. criticism. 

GfShS trailed leader Lee G reen, with a 69/136. greens that 

Trevino, the defmdizig champion, n ^^ e tl S^^^ re qitii£ S^omg 

2JS5SAK&5 S'lMr'sSss ssi: 

■araSRAWs »*2SH5 

on/l Trevino meanwhile bal - trajectory shots from the railway 

onto greens for relatively routine “1 hit six 

^^Trevino^mixater able than pare. STthreesome with Couples wedges, ill 

^ Trevino, was ifeo^yone to. took one t 

virtually everybody ontbeleader get consistently near the flag*. the green 

Gi^ bWM>c p^ fomlh bunker " s 

surkieiilv become unmanageab le bole with an 8-iron to withm 10 suing of su 
SnKo feet, the par-3 sixth (which Trevino the 60s bi 
KtrttkK ate^rfTom WaKOT (74? bogeyed in a two-stroke swing), only 26 pu 

Price (65) and Fred Couples and thepar-3 No. 8 J? m Friday ‘ 

/ng\ within 25 feet. His twisting putt on jyj. 

Those four weren’t far back the eighth broke about sj* r “L roun d ^ 


which put him one stroke behind criticism. __ 

Trevin^Coupla was followed by ESKLISL' 


said- “They can’t score here in the 
wind." 

Trevino disagreed, saying that 
one green “was so hard you could 
land a 747 on it" He was joined in 

that opinion bv Green, who specu- 
lated that the PGA was reacting to 


■&A "tir 


■ • '•'**' -»&:■ * ■ 


p ray 


Mi 

mm 


~-_r~ ‘ aq / 1 ta way they could have gotten the 

°EV Uurfro^d. Green fi- greens that firm in one night wub- 
neSed the course, which requires out doma something to them. 
SSf skill with the irons than thought 1 hit some good shots. 1 

P~L;. -.t, -u. driver He stayed guess not 1 wouldn t mind a 75 

US therou^h £d bounced if I struck the ball poorly, but 1 
trajectory shots from the fairway didn L 

onto greens for relatively routine “1 hit six shots, four of them sand 


:&*• * vT. ■ 







pare. In a threesome with Couples wedges, that landed on the green, 

and Trevino, he was the only one to. took one hop and ended up over 
get consistently near the flags. the green in the gallery or in a 

Green birdied the par-4 fourth bunker," said Trevino, who had a 
bole with an 8-iron to within 10 string of six straight PGA rounds in 
feet, the par-3 sixth (which Treymo the 60s broken. He had needed 
bogeyed in a two-stroke swing), only 26 putts on Thursday and 29 


'vg:! 


t\r* 





( 76 ). 

Those four weren’t far back — o -- ^ ivuuu wm». « 

enough to suit Green; being the I® three-putted Tor the first time in the 

leader is an unfamiliar sensation “I drdn l try to call (hat on&l jus* touraamenL His 35-footer ran past 
for the 38-year-old, who has been tried to get it close and not emoar- ^ ^ 0 | e ^ m j sse< i from five 

suffering through three of the worst rtw mr-4 ninth fee i ^ 10 drop 10 sbc 

years of his carar. “I can win, and I .Green bogpyed toe par-4 mnlj under. 

probably should win a major cham- with a ^uou Out Meanwhile. Green had hit a 7- 

pjonsinp." said Green- But tetter ^s^oo^un. ^ Lhal , rf[ a two-focler for a 

m ^ me l»c squandered Bm togt birdie and the lead. 

i'nSr^mldr radttaoM Site thf IStll. a long par-4, ^closed Couples had bogeys at the 3d. 
a dump truck and L m not leaving ^ aboem whenhe hit a 2-mxi Srh and 10th holes, and three more 

m ° . . , . . . , , into the rough, left a 9-iron just off a t Nos. 13 through 15. Watson bo- 

Cherry Hills, which yieldal a ^ r hjp ned to within sax feet geyed Nos. 5, 7 and 9; a birdie on 
tournament-record 31 subpar ^ lled p^y. the 10l h was only a brief respite, 

rounds Thursday and played only because he boaeved the par-4 14lh 

slightly tougher Friday, turned nas- Green inwBnx a ^notm- fmis wlith a 74. His pui- 


The turning point in Trevino’s 
round came at No. 6, where he 


TteAHodotadPreB 


... BeMndjMad IV«b lolarmiond 

Hubert Green: Third-itMiiid finesse. 


tournament-record 31 subpar ^ thed p^rfy. the KKh was only a brief respite^ ^ 

rounds Thursday and played only , ■ n _. because he bogeyed the par-4 14th cb«npi«uAip»ai 

slightly tougher Friday, turned nas- Green s reemergoice is not® before finishina with a 74 His pul- « Hm * CM,ntrv 

SSLjasaflitewhff ESS i ssar 

kitchen-counter fast and winds western Open, he uec iior ivnnai * v Nlck Pri « 

gncritig to 25 miles an hour (402 ter birdiang the first se'^holesol P TWI1 Watsm 

g ujig jh e third round, one short of the I played a good back nine, he Fred coupms 

Kp ™ -j - . , record for consecutive subpar said. "With some decent putting, it Peto ' J “^' 

beta <™ld ha,e been a real good score." STJSST 

SjSu, was panly tacause of Trevino missed sU greens in a Peier Jacobsen had bera ned s™ Mm*™. 
SJ SL” Sheens, which four-bogey, no-birdie ronni in- wilh Watson, ihree strokes behmd 

officials &ded not to eluding at the first and sixth holes, Trevmo, going into the round. Ja- woms Hoiaiifcv 

Shis approaches didn’t hold, vrithbinh« 

humidity They also ordered them He blamed it on the “unnecessary on the first and fifth holes to drop 

^r^Snnvde- Ei" 

SMSt^ds DougTeweU. who led the tour- 

Su&)'Su«a2dPGAoffj SlraTy wen™2-7? for a 213 
niM whose onlv tour victory dur- rials. Its just the wind, Suny total. arucu uenke 


LAST LEG — Although France’s Fifere Lady had Hie edge &mirdays 

England, West German sailors aboard Diva (above) and Outewtobad a 75 -point l^d 

otct nrnner-iip Britain as the Admiral's Cup yacht compe^be^n ite 

605-mile (973j5-kiionieter) Fastnet Race is e xpected to conclude Tuesday off Ptymoutfa. 

SCOREBOARD 

Golf Baseball ] 

PGA Tournament Friday’s and Saturday’s Major League line Scores 


Somes iftrMMfc itorw ramKU of ttu PGA 
Cbmpiomiilp,al (be 7<*»-viird. w-n caer- 
rv H1IH cmntry Ctab course H Denver: 


First Gama 

Hoostan 111 1« «»-4 » • 

Son Dtoso Itl »n 1B»— 4 13 1 

Rvon. DlPIno C*1 end Bollav; Draweekv, 


nfji cner- frida rs results Fint Gama 

b Dmnr AMERICAN LEAGUE Hoottoi 111 1* <*>0-4 9 9 

67^tZ'x6 Detroit •« MB M8-J & 1 s«i Dtooa ltl B13 1»-* » J 

46 afl 75— rw Clevetond * DM **x — 4 6 1 Rvon, DlPIno (61 and Bollav: Draweekv. 

73-7iAS— 711 Morris. Hernandez 18) and Parrish; Wod- ^qum- 17) and Borfiy. W— Draweekv. 9-7. L— 

67-7^76—711 deli. Easterly IS). Tnompwjn I»1 md Willard. Rvon< s-ia. Sv— Walter 111. HR— San Diego. 
70-65-76—711 W — Easterly. 2-0. L— Hemandei. 6-5. Sv— r^pieion (4). 

66-71-75— 212 Thompson (41. HRs— Detroit. Parrish (17). Second Came 

7060-73-212 Cleveland. Thorton (91. TaWer (41. Haaston *1 808 888-1 7 1 

n Mew Yorit itt 888 Ml— 1® » 2 San DMO •!« ®1 8 M* - * 9 ’ 


7248-72 — 217 New York 


rolled with 30-pound weights, far- 
ther hardening them. 

Green's resurgence, which in- 
cluded a 69 Friday that put him in 
contention, was an encouraging 
sign for the 1977 U.S. Open cham- 
pion, whose only tour victory dur- 


Gooden Survives Shaky Start to Win 12th Straight 


Crm^Htd by OwSnff From Diyaicka " jyftnphy. Still, the Braves are 39-3 
NEW YORK —The implication in games they have led going into 
was; This is about as bad as Dwight the ninth. 

Gooden ever aetSu 1 . Expos 7, Pirates 5: In Montreal 

The New ^rk Mels’ star right? Andre Dawson hit home runs m 


Th* Npw York Mels’ star right- Andie Dawson hit Home runs m wmnau wycu « 

J3& ^eufte iuniap and reliever mugwithatw^rau dMbleaud the of the year. 

nanaea.iMtaier, ran ms wmmug fmr chm- New York Yankees charged to orioles 9 


^4K^r fortas “- ssms&'KS 

3: In the nSg to California. McCaslull drove in Lou Wtataker with De- 
A^Uiae, in Boston, Dare Lick out the and wiked three in W't^^gTt m m the UtL Re- 

rwrrdmg his fourth complete game ^ 


SATUBDATBASEBAU. 


New York Yankees charged to Orioles 9. Raram *: In Ariing- 
their fifth consecutive victory Sai- Texas. Lee Lacy and Eddie 
unlay in a 7-3 derision over the fcfonray each hit two-run home 

M ... n.J C* AH - Diioki nimnw Ini® J «■ a . * 


Rooer Moltble 
Carer Povtn 
David Graham 
Larry Mlu 
Mark Pfell 
Dan Pom 
Tam Kile 
Larry NeHon 
Wavne Levi 
Jack Nlddaus 
Tim Norris 
Calvin Peefe 
Bruce Lletzke 
Hole Irwin 
George Archer 
Denny Edwards 
ScoH HOC* 

Tie Ming Chan 
Frank Conner 
Buddy Gardner 
Bernhard Longer 
Dave Ban- 
Bob Glider 
Woody Blackburn 
Don Poalev 
joey Slnaelar 
Payne Slewart 
Gil Morgan 
John MnhaHev 
Mark O'Meara 
Willie Wood 
Fuzzy 'Zoedar 
Brett Upoer 
Crate Stadter 
Mark Lye 
DA watering 
Ben Crenshaw 


Second Game 

Haaston Ml MB M8-1 7 1 

5afl Diego 111 810 Mk— 2 9 1 

Scott, Calhoun (71 and Bailey; Show, Lef- 


7A75AB-213 Boston Ml ™ 6 II 1 scort, Calhoun (7) and Bailey; Show, Lef- 

71-70-72— X1J Whitson. Bordl (51. Shirley 17). Rtohetll 19) ^rts (7). Jocksen(B), Thurmond (9) andjceiv 

64-72-77^13 and wyneoor; HurH. S tor lev (6) and Gad- w— Show. 8-7. L— Scott, 11-4. Sv— Tlwr- 

68.74-72-214 man. W— Bordl. 3-4- L— Hurst, 7-9. mond (2). HR — Houston. Doran 110). 

S£S 4 Baltimore 1M Ml MV-2 5 B Ota**, *» 111 «M 9 1 

S^Z, 4 Texas M1M2B1-5 9 0 ^ Yort 102 Ml ll*-8 II 8 

ttToIC™ Flanagan, Aose (8) and Pardo: Hough, Runwen Meredllh 12), Broister (7). Fro- 


69-73-72—214 Baltimore 
A6-7S-73— 214 Texas 
75-7069-214 Flonaga 


71-70-73—214 Schmkil (9) and Bnimmer. W— Hauoh. 11-11 


Ruthvea Meredith (2), Brusstar (7). Fra- 
zier (8) and Davis: Darllna. McDowell (71 and 


7070-74-214 L— Planagan. 1-2. 5v-Schmldt IS). HRS- Hurdle. W-McDowelL 6^. L-Brusstar. 2-2. 


72-7469-215 Ti«al Word III. IlilKllrt W. 

69- 75-71-215 Toronto i 1 

70- 74-71-215 Kamos City *1 81 *7^ - 


tele (1). HRs— Chicago. Davis 2 (12). Moreland (9). 

BIB 000 010—2 ( 1 si LOUIS MB «> BM-5 7 3 

201 DM Bis — 4 8 • ptriladelPMa Ml 80S BIB— 4 6 0 

d Whitt: Black and Andular.Dav lev (8). LMitl (8) and Porter; 


7769-74— 215 5tlet>. Caudill (8) and Whitt: Black and Andulcur. Davlev (8). Lnrtl I8J ond Porter: 

66 75 74 215 SundBerg. W— Black. HI. L— Stleh. 108- Hudson. Rucker (8) and VlralL W-A n du lar. 

71 70 74 -2 15 HR— Kansas City. Balbonl (24). 186. L— Hudson. 5-10. Sv— Lahti (13). HRs— 

49-72-75—216 CaHforek. 808 108 D80-1 IS 0 Philadelphia. Foley (1). SL Louis. Van Slvte 

70- 74-72—216 Minnesota 181 118 88x— 6 14 8 (g), Pendleton (5), Porter (5). 

71- 73-72—216 John, album (51. Holland (7) ond Boone; ondmatl 818 Ml 108—1 8 2 


California OOi 1W mo— i “ ptilladelPti 

Minnesota ltl 110 80X-6 U • (B) , Pen dU 

Zohrv album (51. Holland (7) and Boone; ondnaad 


72^71.7^—716 Viola. Eufemlo (71 and Laudner.W— Vlola.ll- lmaowHs 
67-76-73—216 ». L— Zahn, 2-1. HR— Minnesota. Washlnfllon Brawnmaand 

70- 73-73-216 in. . .. - Wekh.8-1.L- 1 

69-787V— 316 MHwookm J2 ■* "t* !* | Guerrero 1 

71- 73-72-216 CWeago MO 133 800-7 13 • Atlanta 

— Tj.^jlg Darwin, McClure (5). Walts C6).FIngers (91 ^ Francisco 

<w-n-76—717 and Moore: Seover. Gkoton (S). James (8) BedraBlcnvDi 
«<pm Ml — IMatts. 2-2. L — James. 4-4. Sv — nnn: LaPoint. 


301 M BOX— 3 7 I 


71-74-72-217 and Ftsk. W — Sltalts. 3-2. l^lomes. 46. Sv— 
73-70.74-217 Flnoers (13). HRs — MJtwoukee, Yount (1U 
js.7i.T4— 217 Cooper (8). Householder (3). 


72-71-74-217 Cooper I 

70- 71-76-217 Oakland 

71- 75-71—217 Seattle 

72- 72-73-217 Sutton, 

69-77-72—218 <fonHe B 


mewta, Washington Brawninaand Diaz .'Welch and Yeaaer.w— 

welch. 8-1. L — Browning, 9-9. HR— Las Ange- 
la! 048 818-8 IS 1 ik, Guerrero (28). Cincinnati. Esaskv (11). 
■00 131 800-7 13 • Atlanta BOO BID 850-6 8 0 

Volts 16). Fingers (9) gu Fnmdsca 240 OM DM 6 1 

xiton (5), James (8) BedroBlon.Dedmon (71. Sutter (B)andCer- 
. l— J ames. 46. Sv— one; LaPoint. Garretts (8). Davis (8) and 
waukee. Yount (11). Brenlv. W— Dedmon. 5-1. L — LaPoint. 5-10. 
T (3). Sv— Sutler (181. HRs— San Francisco. Leon- 


310 810 810—6 11 2 ar d (15), Green (4). 
110 ON 010-4 7 2 


innings ana reuever nmgwim<uwu-iuu uuul» v ^ } — „^ nn „ afti*r aivina tin a same- 

four shut- York Yank«s dtaijrf to orioles 9, Rangers 8: In A^tog- SSSST 

out mnings to help the Eimos bear their fifth cOTSxmuye victory ^ Texas. Lee Lacy and Eddie rarmen CastiDo with two outs in crotestodier 

Dawson biT& 12ih uniay in a 1-3 imam ova 6* ^ ray each hit twu-n m home 

homer of the season in the fifth, Boston Red _So*- runs and Floyd Rayford homered Breners 5, White Sox 2i In Chi- ^ cronsho- 

sparldog a tbree-nm rally against Cowley teased the km with the bases empty dunng Bald- Randy Ready, just called up hoi sutton 

Rick Rhoden and putting Montreal slow braking pitches for ax m- mm f t seven-run third inning. Vancouver, hit a two-run ^^ ommoo(1 

ahead 5-4: He connected in the nings, allowing ocOy [°JJF ^ Murray now has hit 20 homers for bomerinthe 1 1th to beat the White 

sixth off Pal Clements for a two- fore losing a shutout ma m me s^ght seasons, breaking the & for Milwaukee. bui Giasson . 

run shot It was the 16th time in his seventh- team record he shared with Boog A » s jj. Mariners 5: In Seattle, 

career that Dawson has hit two indndmg Jim Rice s 1 PowelL Dave Kingman hithis 400th major- 


triumph Samrday over the Qncago RkkRhaknand puUingMontr^ slow Draxmg ^piu^ «« ** more’s seven-run ttora inning. Vancouver, hit a two-run 

mimpnaMw j ahead 5-4: He coaneried in the nings, allowing oidy [our to Murray now has hit 20 homers for ho^inLhe 11th to beai the While 

Gooden’s wirming streak is me sixth off Pal Clements ifor a two- fore l«i^ *nt^ bid mtM straight seasons, brealang the ^ for Milwaukee, 
mme longer than those put togetb- nm shot It was the 16th tune in his wm record fae shared Wl * ® 00g A’s II, Mariners 5: In Seattle, 

SEseason by LaMarrHoyt and tareer that Dawson has hit two mchj^ s PowelL Dave Kingman hithis 400th major- 

AndyltaldBrfto^indit « £di none Royab^Bbre J^3: foKans^s tagwk™ 


72 72-73-217 Sutlon. Onttvtros (8) and Heath: Moore. SATURDAYS RESULTS 

^-77-72^218 Vanda Berg 19). Lang (9) and Keomev. w— AMERICAN LEAGUE 

74-73-71—218 Sutton. 116 L— Moore, 18-7. Sv— Ontiveros caUforola 800 MS OM-9 II 1 

71-7871—218 (4). HR»— Seattle. Davis (9). Oakland, MW- Mwncsola OH 0» 1 “M—I * 1 

ji. 73.74 218 Pity 116). McCasWII ond Boone; Smllhson. Fllson (6). 

n S75I219 NATIONAL LEAGUE Lysander (9) and Sates. W-McCaskllL , 8-7. 

MM 19 PINsbargn l -MMMim 

_«. « tj h b Muni not M0 DOl 12*—7 li 3 Mmr Yorlt M0 BIO W— * 13 ’ 

TQ.72.77_ 219 Rflusctwl. Tomlin i5h McWIIIKmis M, BOftOfl ""G 000 31B-^3 9 0 

7^71-77-2* Guanle 17) and Pena; Smith. Reardon (8) Wd cowtev, Rteterttl (8) and Wvneaar; BovO, 
7T.72.7s— 220 Fllzaerald. W— Smith. 136 L— RewsUieL 8-5. gear UD.ond Gedman. W— Cowley. 186. L— 
69-75-76-230 5 v— Reardon (29). Bavd. 11-10. Sv— RtohaHI (21). HR— Boston, 

7V75-74 — 220 Rt« «W. „ , ,, , 


SATURDAYS RESULTS 
AMERICAN LEAGUE 
CaUforola OM •* 004—9 11 1 

Mlnm intn BM 018 M8— 1 3 1 

McCasWII ond Boone; Smllhson. Fllson (6). 
Lysonder (9) and Salas. W— McCaskllL 8-7. 
l— Smithson, n -9- H r — M innesota. Bush 110). 
Mew York *10 BM 912-7 13 2 

ZZv, W0 DM 318-6 90 

cow lev. Rtehetti (8) and wvneaar; Bavd. 


eaualed the longest string in lie allowed only one hit after taking 
majors this year, py Ron&ridiy of ova for Bill Gnllickson with two 
the New York Yankees. . . on and m*ody out . m tod. 


Nick Faldo 
BUI Giasson . 
T.C Own 
Howard T witty 
Gary HalRwra 
Denis Watson 
Bobby Nichols 


first hi fling , although he did _ not 
walk a batter and struck onl niru:. 

“I guess I was a little shocked, 
said the Met manager, Dave John- 
son, Tve just been spoiled, rm not 

used to seeing him give up two runs 
in a whole ball game.” . 

But Gooden later- -retired u 
strait batters and did not surra- 
dcr another run until the eighth. He 
has allowed no more than three 
earned runs in any game tins sea- 
son, and has not lost stnee May 25. 
“Once they got the two runs, I 

said, ‘OJt, stop them here, he 


Dave Riehetti came on with none Royals 4, Wue J^ys 3: in Kansas Hague - — — — - ^ NWl 

KdR^ad>aHi>te £. H SS 

^ 9, Twins 1: In Minneapo- teal Toronto. Dm Quirenbmy 1 ^ Dull Smte nort 

1 L<l Dme DeGnces hit a three-run worked 3% innings of two-hit relief, at 407. ( » ) AnMW 


71-76-73—220 

79-77-73—220 

71-78-74-221 

73-74-74-221 

78-77-74—221 

73- 74-74 — 221 

74- 73-74—221 

75- 71-75-221 


— Recrdwi (29). Bavd. 11-18 Sv-RWwtU (ID- HR-Baston. 

Rice (191. 

Detroit Oil MO Mi *1-5 1J 1 

m CMvoBaad OM JOB BM 18-4 18 0 

1 ransition Terrell. Horwmdw 19) mid ParrWi; SanlHb 

— — Ruble (10). Easterly (111 and Banda. Willard 
AACFRAiX HO). W-Hemandez. 7-S L— Ruble, 2-3. HR— 

De troll. ParrWi (18). 

Ameriaai wooue — nun.wnn iqa mi N0 DM 11 1 

LEAGUE— Suspendvd Chicago Manager ggo BM OTO eo— 2 6 8 


m a wnure uaii ^ . 

Bui Gooden later -retired 12 Conpikd by Ow SlaQ From Dispatcha 
straight batters and did not aura- ' CLEVELAND — Jack Morris 

der anothw run until the taghttL, He ^ VTdlie Heraanda both tost to 
has allowed no more than three Thornton on Friday mght- 

eamed runs in any game this sea- Thornton’s , single ended Mor- 

son, and has not lost since May 25. no-hU bid with two out m the 

“Once they got the two runs, l sixth inning, and then his two-run 
said. *OJC- stop them here,’" he tome nm off Hemandei in the 
caid. “1 iust beared down a little eighth rallied the Cleveland Indi- 

ijarder. ans to a 4-2 victory over the Detroil 

“When Tve got the ball in my Tigers. 
hand, rm in charm I can’t be beat. «j t started oat mce and ended up 

^toway.pitoherhaigot.0 

~ FRIDAY BASEBAUT~ 

it, although h ' lost a no-hitter every time I pitched 
no easy way to b<atGo«ra, I wasn t surprised 

last year was 17-9 as 

*T)««i ouL he said. Hes a ronun^. H ^ 


fifth straight Kingman s homer dovo siocfcton 

tne new iwa iBiuu*-*. *** ««. — x- . . tbrirlastddiL Caudiu wun one oui in me iuui iw moved him a^wnowte 

r’rTMvlen /18-3) scattered nine Gullirikson was shelled for eigni tnariasia^L . , Tro-nnin nan Ouisenberrv all-time list, with Duke Snider next Ed Ftar i 

■ sSSs sa.s aeasasM* « - =x_ 

m y|V a hatter and struck out nine^ _ _ _ fWlm Do,l smS Z 

Indians 9 Thornton Helps Stick It to Tigers gg- 

. - • ™“ ,m Al Gatevroar 

Phil Btackmar 
Mike Smith 


Tony LaRussa hwo pomes. eHiKtflve Aug. ilk ^^00 { 1 1 JwkI M ooro; BanaWor. 

wetirmelder 110). Ados to (10) and Hill. W- 
t0~77-77 22T auo. 4tti game aoalnst New York. iitawnr 46 l ftn mtir 3-3. Sv — GRwon (9). 

MILWAUKEE— IMcrtMRai^BBOdT^ hRs— WU lwmriM. Younl (12). Reodv (I). 
78-70-78— 222 fielder, (ram Vancouver ol the PodHc Coos! ^ rq g§o — 9 if ■ 

League- Optioned Peter Ladd. plWier. and m „ , 


/mi r«-«i fielder, tram Vancouver oi me rw* — w m M g 

W878-m Leooue. Optioned Peter Ladd. PlWier. ond ™ „ , 

clork ’ Dutfi * ,t, * r ' te Vancouver. SrH>|| . 7J< AosB m txtnoMv: 

MINNESOTA — Placed Greg Gasne* hv Mnlfi* (31 Stsworf (4), Harris (91 ond 

72.7678-OT H , Wer> onthel8dav disabled IW- Called up 

m-76-77 Alvoro ESP !HS; ^ h ° rt, !I, t>P ’ from T 01 aLg 16). hr»— B alHmore. Rayford (7).Locy 

T^r. (W.Muttw W}.Twxn%Mwson noj.Wnlk^ 

74-73-77-224 Miaiw> « the 21<JaY dfaoNed IW. Colled UP ■ ■ B0« 2M 100 0-3 7 0 

ChariwO’Brlefi.catcJwr.fromTaroinaof IhB 280 Ml 888 1-6 8 1 

73-72-88-H5 Pocmc Coost League. nai and Allenson. Whitt 19); 


ugly," Morris said. *TVhat can I 
s^? The Indians ju st got to us. I ve 

FR1P AYBASEBA1X 

lost a no-hitter every time I phdwd 
except once, so, I wasn t surprised 
when Thornton angled . ■ 

■UfifUfliidei quickly added; un- 


^msthim: We needed a tow-run 

game today." m the walk off Morris. Brett Butter and 

The Cubs scowl tw«m me Franco angled for one run, 

fmt nn successive hits by relieved. Morris 


both runs. _ Pat TaWer put <^°£J^ fence 

George Foster hit j a rwu- „ Heniandc2. s next delivery, 
borne run “He threw me a fast baU ahttle 
in. the third D^^^wJfgL ^ ^ outside comer," said Ttom- 

^.-fTk^oiro ihe 2-2 tie before live _ mt :..h YtraanAPcd to Ictll bltO it 


PfaSadriphia, 

barung awsra^e 


haven t 

^^^Hender^badt^y ftjnHn^sacriHce^ 

s sa“^Jr3 
swr.SstfSs sSSssat: 



Toroofo BM1M1M0-3 7 0 

Kamos Oty 280 Ml BW V-4 4 1 

Key, Caudill U0I and Allenson. Whitt (9); 


7HM#-® TEXAS— Placed Don Slougtrt. catcher, on Sundboro. 

71-7463-M disabled list Activated Alan Bon- 4A HR- 


FAILED TO QUALIFY 
Victor Reoalado 7WJ— 


71-7863— 730 nt fter, LnHehJer. 






out on 


Grog Norman 
jack Renner 
Ed Dougherty 
Andy North 
Gary Player 
Bab Eastwood 
George Bums 
David Fred 
Keilh Fergus 
jlm Colbert 
Dan Foreman 
Mark Gumow 
jlm White 
Sieve Vertato 
Greoa Janes 
Loitv Gilbert 
Bob Ackermon 
Raymond Floyd 
Mark Wiebe 
johnny Miller 
Rex CakhvHI 
nm Collins 
Clarence Rose 
Ronnie Black 
Gary Ostrooa 
Loren Roberts 
Paul Azlnger 
Lorry Rlnker 
Pat McGowan 
Tim Simpson 
Mac O'Grodv 
Scott Boss 
Ken Allard 
Stave Benson 
John Godwin 
Bob Lohr 
Bab Leaver 
rubs Cochran 
Rick Osbero 
Tony Sills 
Drue Johnson 
Dan Halldorson 
John Jackson 
Curl is Strange 
jack Seltzer 
Tommy Nakallma 
jack Lewis 
Lynn joroon 
Benny Passons 
Brlen Charter 
Vance Heatner 
Bob Lendzlan 
CWP Beck 
Craig Watson 
Gary Koch 
jlm onem 
GeoH HertStW 


® ,5 - dav absat3ltc """ w^qutaerterry, 86. L-CoudlH, 46L HR— 

mr ‘ LnflaMe I:^. L---- Kansas atv. Sun(fcero 1*1- 

Oakland 24i 831 081—11 IS 1 

75-73—1*8 CINCINNATI— Placed Bab Buchanan. m , 1B _ s t , 

tImZim pMchBr ’ “L*ff 'SSTLf^nlSrJ^'pnlmer Blrtsas. Mura (8). McCattv 19) and Heath. 

ss=:s jszsszsLELZSi ! «»2 & 'Baasa 


— pnener, do me own ... Bora (9) and Keomey.soon 

Tgjr ’2 9-2- L-Youno. 7.11 HRO- 

American Association. OaWond. Kingman (23). Seattle, Cowens HO). 

NATIONAL LEAGUE 


72-78—148 

78-71—149 

72- 77-149 
7477 — 149 
7675-149 
75-74-1 <V 

73- 76-149 I 

72- 77-) 49 

73- 78—1*9 JohnMcE 

71-78-149 (19>- OS. 4 

77-72—149 Robert Sc 

74- 75— M9 UX. O' 1 w 

71-79— ISO ,von Lbx 

77- 73-150 i7 ±' 

71- 79—150 Jlmmv C* 

75- 75—150 (5). UX. 8- 

72- 78-150 

76- 74—150 McEnroe 

72- 78-150 Lendl del 

75-75 — 150 

74- 76— ISO 

75- 75-150 

73- 78-151 Chris EW 

78- 73-151 Nostrand. I 

78-75-151 Cioudle * 

77.74—151 del. Martin 
7477—151 Hena Ma 

71-80-151 6*rWB 5 

74- 77—151 Helena S 

6962—151 Carling Ba 
78-74—152 

75- 77—152 Evert de 

73-79—152 Konde-KI 

73- 79 — IS! 

74- 79 — 152 

75- 77-152 

70- 77-153 

77- 76-153 L — 

71- 82-153 .. 

n#>-\sj CFLS 

BO-73—153 

78- 77—153 
7381—154 

7361-154 Montreal 
80-74—154 Toronla 
75-79—154 Ottawa 
7560—155 Hamilton 
7761-158 

8078-158. Bril Omb 

79- 79 — 158 Famardon 


Tennis 


MEN 

lAt Stratton, Vermont) 
Quarterfinals 

John AteEnroe II). Ui.def. Paul Annacone 
(12). US. 6-2, 84. . _ . ... 


CMcnaa M0B98 010-3 9 0 

How York Ml M0 W* — * 18 • 

Fontenot, Frazier (7). Brusstar (71 and Da- 
vis; Gooden and Carter. W— Gooden, 186. L— 
Fontenot, 4-7. HR— Hew York. Foster (17). 
Atlanta 188 018 3M— 5 8 0 

San Francisco 5M H00 Ml — * 8 0 

Barker. Camp (1). Garter 141, Forster (6). 
Dotation (■> and Cerone: Blue. Williams IB), 


Robert Seguro, U5. del Scott Davis (6). Gamiit* 19) and Trevino, w— Garretts. 6-3. 
UA, 6-2. 74 (7-2). L— Detanon. 5-2. HRs— Atlanta, Murphy 2 

Ivan Lendl (2), Czechoslovakia del. Brad i7 9). Son Francisco, Trevino (4). 


Di inert (71, UA. 6-3. 86. 

jlmmv Connors (3). UA. del. Tim Mavoite sl Loan 
(5). UA. 86 66. PttnodeteWa 

SemHInals Cax,Davlei 

McEnroe del. Seausa 62. 61 man. Shi cent 

Lendl del. Connor*. 60. 44, 66 w— Can. 13-7 

WOMEN (14). 

(At Taranto) 

Quarterfinals SL Loots 

Chris Everi-Llovd (T) US. del Malty Van puiadripbla 


First Game 

SLLoals 000 238 880-5 8 1 

Philadelphia 01* 800 838-6 5 3 

Cox, Davlev (8). Lofiltl (8) and Nieto; Koos- 
man. ShloanoH <e). Carman 191 and Virgil. 
w Tort, i>7. l— K oosmaa 61 Sv— Lahti 
(14). 

second Game 

SL Loots 041141001—13 19 1 

Philadelphia 11* 118 M0— 4 7 2 


Nastrand. UJL 62, 8-1. 


Kenhlre. Horton (2) and Porter; K. Grass. 


Ctoudle Knhda KUsch (5). West Germany, Rucker (3), Andersen 1 5). Shlpanofl (81 Te- 
del. Martina Navratilova (2), UJL 36 64,6-3. kutve (9) and Daultan. W— Horton, 1-2. L—K. 

Hona MandlHuwa (3). Czechoslovakia, dri. Grafc 1M _ H Rs^-PhUodetehla, Hayes (11). 
GabrMa SatoatM (7). Argentina. 63, 66. s , Louis, McGee (6). 


Helena Suhova (4). Czechoslovakia del. pmsberoh 
Carting Bassett (». Canada 61. 6L Montreal 

Semifinals Rhoden.! 

Evert del. Mondllkova 3-6. 62. 86 Gullickson 

Konde-Kllsch del. Sokova 86 66 (7) and Fit; 


Football 
CFL Standings 


Kiite^---- t£2tfiSS£S£l£ kzskzs. 

thr«-nm fionwr^ 1: ta Los A^P; '■« j « J£-«« 8* 14 te ^ftatteS^Sg^ doub'S ^ ofHoo^ i, , 

jjjjyelahddC^ *&> drove in one run and Cahfomja. and St Louis teammate Joaauin la the first game, DiJone lud three Nufwnb#ra a, vn. Bochum i 


runs, homered 


cmled, and Cardinals 5, Phfflies 4; In Pbila- 


Padres 6-2, Astros 4-J: In San 
Diego. Migud Daone. called up SOCCer 

from UK WEST GERMAN FIRST DIVISION 

the day, scored the winning run on Boyw Uert[n g tn h aonm Munich a 

Steve Garvey’s btlllt tO Complete a po^vtai Ovewetdori *, WokJorf Mnnnhelm i 


Eastern DtvtUoo 

w L T PF PA PIS 
Montreal 3 2 0 1*3 1» 1 

Toronla 3 3 0 175 154 - 

Ottawa 2 3 B 106 «3 

Hamilton 14 0 107 137 

Western Division 

8r» Onto s 0 0 177 65 H 

Edmomon 3 3 0 151 169 

Sosfcotctiwn 3 2 0 148 HI 

Winnipeg 3 2 0 143 112 

Cotoarv 0 4 0 60 182 

Friday* «•*■« 

Toronto <a Edmonton 23 

SatardaiTO Result 
Saskatchewan 33, Hamiron 29 


Ptmtxm* BM MB 1BB-5 12 B 

Montreal B38 832 BOX— 7 ID D 

Rhoden. dements I6).5currv 17) and Pena; 
Gullickson. SL CKrtre (3), Burke (7). Roberge 

(7) and Fitzgerald. W—Sl.Oalra 62. L-Rho- 

Jen. 611 Sv— Roberge (2). HRs— Montreal, 
Dawson 2 113). 

SaebMntt 0M 818 BM— 1 • 2 

los Angeles 200 BM B0x— 2 9 1 

Tibbs, Francs (7) and Diaz: Valenzuela and 
ictosehx W— Valenzuela 136. L— Tibbs. 611 

Major League Standings 

AMERICAN LEAGUE 
East Dtvbtoa 

W L Pa. SB 


Toronto 

New York 

Detroit 

Boston 

Baltimore 

Milwaukee 

Cleveland 


58 50 537 10 

58 52 JH9 12 
54 S3 JOS 13ft 
49 57 MS 18 
35 73 JM 33 


Californio 

ToroatattE^wntoia Kansas City 

S* 0 " 10 ^ “e** 1 * Qckland 

Saskatchewan 33, Hamlhon 29 Chtoooo 

NFL Exhibition . 


West Hvtakn 

62 46 
$9 48 
59 49 
S3 53 


49 59 454 13 
48 58 453 13 


nod»BlR«h 1: a atv Missouri, ueoigc d«u 

ksJFmudoValeffire^ 


Houston. Hanover 1. Leverkusen l 

l„ 1 ,|-fpA 1FC Cologne 1, Elntraeht Frankfurt 1 


EshsPtSw**’* 


3^6 Yount’s agnin-umms 

2f. S^ve.MB^uteitstoc- 


Wt record, did not pl^f- ejan- ton, 
Gants 6, tones 5: 1b ^ 
cisco, Brad .^-f^^^bBrenly nings 
gjc in tfae-nmlh mok» z^j^, m ers Buec 
to beai Atlanta despuf mas. 

and four runs baited ui W w 


Dodgers 3, Reds !; In the^a- 

toiy. _ c orioies 1 In Ariing- timaJLeague, in 
Rang ert5, 2[!^ trough hc5 dro Guerrero, m hts fiat ai-tat 

^ Texas, » jn- since returning one game lpe from 

BaltiiDore rt^mrd f andStCTe Mi a t^™ 


K * n s B * rh*d\e Horn* hdd dro Guerrero, m «« 

^ Texas, » jn- - since returning one game lpe from 

Baltunore to five hits ^5, a ihree-nm homer to 


(issams o, ■ - -flui sin- uanu**"**: -p. - ward and Steve tne suikc. _ 

riscb, Bred ntol* » a 5^ hi r SJSf home beat Cindnnau. The R^s pljj^ 
gje rndtotunUi scored 5j?. meJfS g uec bele each manager, Pete Rose, went t-for-4 


nnwiai IKUUUC UK 1UH)« IWHS““ “ vf»» ' n. ' nut seven Soaftxwckm 1, Bonnski Dortmund 1 

first 18-game winner.. twice. Nolan Ryan ^YHomhu™ a Konwmagtfrn i 

Expos 7, Pirates 2: In Montreal, in 5% i nnin gs of the opener, ^oiu VFBSIlrt t 90 rt().BorusfcNianeheMiodiiocho 

Tun Wallach angled in two ruas 8®«?P o ““ j** 5^J!S?dS world under-h tournament 
while Biyn Smith and Jeff Rear- m losing his seventh straight oea- (Af 

don, who got his 29th save of the sion. ■ 

year, held Pittsburgh to five hits. Breves 6, Giants 5: In San Fran- twto phud 

Mets 6, Cubs 4: In 'New York, Tcrrv Harper singled in the B rozn *. omn« i 
Wally Sadat™ rat 3-for4 and during Atlanta's five «L'“ 

singled in the game-wmmng run in ^ eighth. tL Ff. jopop x Hong kw o ii«tmd i« sw r> 

the sev enth. 


Friday's RCWHB 
Detroit 10, Buffalo 10, Ite . 

St. Louis lft ChlcaBo 3 

Saturday's Results 
New Orleans XL New England 20 
Kansas atv 35, Cincinnati 27 
Minnesota 18, Miami 13, 0T 
Pittsburgh 42. Tampa Bay 27 
Washlnglon 17, Anon I o 14 
PMtadelphlo 37. N.Y. Jets 17 
Indianapolis 19. Seattle 7 
Son Diego 13, Cleveland 7 
Dallas 71. Graen Bov 3 
N.Y. Gionis 30. Denver 30 
5an Franc isca 28. L A Raiders 71 
L A Rams 7. Houslan 3 


~ r . Texas 


41 67 

NATIONAL LEAGUE 
Cost Division 



W L 

Pet. 

GB 

New York 

65 

42 

407 

— 

St. Louis 

65 

42 

407 

— 

Montreal 

61 

48 

460 

5 

Chfcaeo 

54 

S3 

-505 

11 

Philadelphia 

50 

58 

463 

15V> 

Pittsburgh 

33 

73 

an 

3TV* 


West Division 



Los Angeles 

63 

44 

589 

— 

Clndnnall 

57 

50 

533 

6 

San Diego 

58 

51 

532 

6 

Houston 

50 

59 

.459 

14 

Atlanta 

48 

59 

449 

15 

San Francisco 

f> 

385 

77 



I 









I Page 18 


INTERNATIONAL HERALD TRIBUNE. MONDAY. AUGUST 12, 1985 


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By Sandy Rovncr 

Washington Past Swnce 

W 'ASHINGTON — She was schizophrenic. 

No, epileptic. No, just hopelessly crazy. Strap 
her down. lode her up, give her a lobolomy. 

What was really gang on made Andrea Biaggfs 
bead were Sheba and Anton, Joseph and Data, 
Philippe, Little Andrea- Ellen, Mother Mary, The 
Angry One, The Mauler, Super Andrea, Nothing. 
Especially Nothing. With 28 different personal- 
ities. the real Andrea was only rarely in control. 

Sheba and Anton killed cats. Joseph, her mind's 
incarnation of her father, burned her with caustic 
chemicals or slashed her with knives. Her mothers 
voice intoned throughout “You deserve to be 
punished. You’re bad.” 

Super Andrea held down a high-level, high- 
pressure job and performed brilliantly. 

Bridget enjoyed casual sex, but then Dara, her 
mother i magt» would punish her sinfulness, and 
Philippe would try to make sure it could never 
happen again — with pins, with adds, with suicide 
attempts that often landed her in hospitals. 

Andrea herself fell nothing. Because Nothing 
had taken not only the pain upon himself, but the 
knowledge of toddler years of unspeakable physi- 
cal and psychological torture: repeated, unremit- 
ting abuse at the hands of her deranged father and 
of her mother, whose escape was to blame her 4- 
year-old daughter for her husband’s behavior, pi- 
ously telling her it was “God's wUL” 

Nothing kept Andrea from fading — when 
Philippe used the drain-cleaning crystals, when 
Dara burned her arms with oven cleaner, and all 
those other “crazy things.” 

Until five years ago, when Andrea Biaggi met 
Dr. Eugene Bliss, it never occurred to her that she 
might be a “multiple personality.” She simply 
believed, as her family and many therapists had 
assured her throughout her 31 troubled years, that 
she was "hopelessly, incurably crazy — bad and 
evil and crazy.” 

When Bliss suggested that he not only knew 
what her problem was, but thought he could cure 
her, “Why.” she says today, “I thought he was the 
craziest therapist I'd ever seen.” 

Andrea Biaggi is not her real name. Her parents 
. are dead, but her big Corsican-Amcrican family is 
scattered around the country, six brothers and 
sisters. They do not know of her sessions with 
Bliss, nor her part in the book “Prism: Andrea’s 
World.” which she wrote with him and his son, 
Jonathan Bliss. 

Nor do Andrea's employers in Salt Lake Gty, 
where she holds down a responsible job. For televi- 
sion appearances, she wears a wig and sunglasses. 

Her integrated or “fused” personality is full of a 
bubbling wit and intelligence that no one would 
associate with the anguished, haunted group of 
shadowy selves that warred among themselves in- 
side her head. 

“Andrea and people like her are unbelievable 
hypnotic virtuosos,” said Bliss, a University of 
Utah psychiatrist who, after 30 years of relatively 
traditional practice, has emerged in the last half- 
decade as a specialist on multiple-personality dis- 
order. 





Jamal H. Drate/Ths tat 

Dr. Eugene Bliss and “Andrea,” a victim of multipie-personality disorders. 


“People with multiple personalities have been 
practicing using spontaneous hypnosis frequently 
since the ages of 4 or 5, and by the time they are 
adults they’ve had a hell of a lot of practice. They 
can cope with all sorts -of nasty things without 
knowing it” 

Andrea's case is fairly typical, despite the seem- 
ingly bizarre nature of her symptoms and the 
events that precipitated them. 

Dr. Frank w. Putnam, an authority on the 
disorder and part of the National Institute of 
Mental Health team at Sc Elizabeths Hospital in 
Washington, while disag r eeing about the impor- 
tance of self-hypnosis in the ailment, said most 
multiples were “victims of extremely sadistic, usu- 
ally sexually oriented abuse that occurs before the 
age of 12, usually at about 4, 5 or 6, and continues 
for a number ofyears." 

Putnam had never seen Andrea, dot was he 
aware of her book. Nevertheless, characteristics he 
described as typical of multiple-personality disor- 
der fit the particulars of her case — the childhood 
abuse and the creation of numbing or protective 
personalities that later turn against the host per- 
sonality. producing self-mutilating behavior. 

The more virulent the abuse and the longer it 
lasts, the more personalities are likely to be creat- 
ed, be said. Though therapy with adults can be 
difficult, children who have “dissociated” can be 
successfully treated within weeks. 

Putnam tiled new evidence suggesting that a 
“child witnessing violence may have an even more 
powerful traumatic ex p e ri ence" than one who was 
the victim of the violence. 

Andrea's compulsion to kOl cats was found to 


have stemmed from an incident she witnessed, one 
she repressed until late in her therapy. 

Her father worked as a maintenance mart in a 
hospital. One day he brought Andrea to work with 
him. She had found a kitten. . 

From the book. Little Andrea- Ellen, a terrified 
5-year-old, remembers: 

“It was hard with the kitten to go down. The 
stairs went to the big room where my father 
worked. ... He was angry like wild. He scares 
me. . . . He grabbed me and the cat. The cat kept 
running. He kept wanting me to touch him. He 
kept twisting ray hand. ‘Just let me get kitty — 
please. Daddy — let me go home.’ He hit me. I 
wouldn’t do what he wanted. I kept saying I 
wanted the kitty. 

“ ‘All right, if you want the Jazzy, I*U give you it 
You want this kitty?’ He was real angry. He pulled 
the furnace door open ami threw the kitty m the 
Furnace. 

“Then 1 ran up to him, and I was screaming and 
crying and I kept begging, ’Please take the kitty 
out’ 

“He said, ‘If you want that kitty, do what I want, 
and HI get the kitty.’ 

“1 thought he could do it. I really did. That is 
when I did what he wanted. ... He pulled me 
into a dark comer. 1 hated it, but I thought I could 
save the kitty. It was my fault the kitty died. 

“He put my clothes on. *Now, Daddy, you 
promised the kitty.* He started to lungh 'you 
dumb lad. Don’t you know die kitty is tread? 

“Then he opened the furnace to show it was 
dead He said he would put me in the furnace if I 


told anyone. I didn’t fed anything then. I didn’t 
fed my body. I didn’t cry. I wasn’t afraid, and I 
didn't care.” 

Mac b of the time nothing seemed to be very 
wrong with Andrea Biaggi. with a few exceptions 
— when periods of hospitalization could not be 
hidden, for example — she appeared to lead a 
more or less normal life. ‘ 

Super Andrea, who was oeaied to keep her from 

flunking French in high school, kept achieving at a 
high level Even during her therapy, when she was 
conscious)} 1 reihing her lifetime of horrors, her co- 
workers never knew. 

Andrea harbors bitterness toward the mental- 
hesllh establishment, which dragged her, used in- 
appropriate therapies and, she aid, brought her 
“within a hair’s breadth” of a lobotomy. 

“It is so scary to think how those mis t akes ruin 
somebod/s life.” she said. After repeated misdiag- 
noses, “l still don’t know bow or why I kept 
fighting.” 

She said tartly, turning to Bliss, “I know, you’re 
gong to defend your colleagues.” 

Buss si gfacd. “Look,” he said, “I was ignorant 
for 30 years. If you’d come to me 10 yean ago, I 
wouldn’t have known what was wrong.” 

At Sl Elizabeths, Putnam’s research has in- 
volved, in part, the demonstration of how the 
different stives in multiple-personality disorder 
can evidence distinctly different brain waves in 
response to the same stimulus and manifest differ- 
ent physical characteristics — visual acuity, aller- 
gies, even Alnesses such as diabetes. 

He described an adolescent patient who, when 
ooe personality emerged, always developed a rash 
on her face, chest ana arms. 

Andrea and the Blisses wrote “Prism” at least in 
part to call attention to the widespread existence of 
multiple- personality disorder aria to the need for 
more meticulous screening of psychiatric patients. 

The book was written two years agot three years 
into the therapy, but both Andrea and Dr. Bliss 
knew that even though all the personalities bad 
been fused by then, the work was just beginning. 

“It feels almost lie an addiction to me,” Andrea 
said. “Whenever I’m in high-stress situations, 1 
always get that satse to pirn bade, poU oat of it” 
She- and Kiss said they were surprised at the 
interest the book was generating from the public 
and from television filmmakers. 

Putnam recalled a CBS producer who was fihn- 
ing recently at Sl Elizabeths. “He said, *Oh, multi- 
ple-personality disorder — the only sexy thing 
psychiatrists are doing these days.’ 

“If you look at our culture, you wiD see a deeply 
embedded fascination with t ransf ormation — ie- 
kytl and Hyde, Superman, Wonder Woman — and 
behind lurks emruqthing else, the is sue of the 
hidden — werewolves, vampires. . . . It is part of 
Western civilization.” . 

Bliss, Putnam and most other esqxrts in the field 

igiw » rm rtne maj fw p oint • fh* thepqsy is wrqnishc- 

Iy painful for the subject, and alternately reward- 
ing and exasperating far the therapist. Putnam 
quoted from a recent book on post-traumatic 
stress among Vietnam veterans: “Remembering is 
worse than berne there.” 


■ LANGUAGE 

Hmc to Break a Taboo * 


■W 


By William Safift 

, ASHINGTON — How do 
r V you break a Hagufetic taboo? 

We afl know sotxjc words thai are 

not used in what used to be called 

SSL Barm, 

without .entantaw* J* v* release: Tm 


on the B»wf die worintfeatigba] 

■weaning 

Along comes an eve st ^ 
breaks* or at least redact^ fl* i* 
boa In an eowaomfr- — 
interview with Terence ! 


are- 


after his release: Ta so uj. 
gry. ... 1 was just hoping that 
that plane we saw on the humac m 
Damascus was a B-52, andante 
way over, just go » there and sw 

t — t - ef _ out the whole bench of bastards, . 

ly funrtiOTS, but abon ^stan- 0^7 That’s an imukmd thought 4 
words nsuaD y»»“\ iust because of dr steer f 1 


tige of the old ban 
words on radio and 
in your family newspaper. 

We are not talking here ab«n 
“dirty” words or slang tenns for 
bodily 
dard S 
atedwi 


> — ... just because of dr 

aicu wiui sex. Only two generations fceL - J T b c film dip. iadwun* a* 

ago. for .? aiD g k :. word bastards, led “The CSS Eve. 

word used m general carremom. nina News" that night, 
certainly “not over the air or m the _ .. 

newspaper. The verb w'ofae was The next jnOTmng, The Nr 

^^substiaited.bntthepre- 

ferred euphemism was attack; wg? 

when a woman was said to have a *** 

been aaacked, the crime in mind 

was not an assault but a rape. of i5* ba ™ _ , «_ 

Tto, taboowM teokmwb m Jte 

Sino- Japanese War of the mid- 

ety, and has recently been used Welcome back bastard, not as an 
outspokenly by feminists who be- insult T»t as n proper English worn 
Beve the crime deserves more used in ordinary discourse, sol so 
•tumtwm much mean ing^ “illegitimate” as 

Bastard is a word in the eariy “unl^timated.” 
stages of breaking its taboo. The In “King Lear," Shakespeare aj- 

word is acceptable in specialized lays somewhat ibe audicnct’s am- 
meanings srara as “variant from the nms toward the villain. Pd tnvnd, 
standard,” as in bastard size, as wefl bastard son of Gloucester, by grr- 
as in verb form for “to debase, ing him a soliloquy in which he 
make inferior,” as in bastardize. questions the unfairness of his 
How-wer, in its bask: meaning — state: 

flkgit^^^priiw wdiildbOT _ . bastard' Wherefore 
out of wedlock — the noon bastard 

(etymo logy in JisgB tt) j» ilfll ^ , W 

looked upon prudishly ror us con- 7 

notation of the resuh of ifficu sex 
and, more im po rta nt, is avoided on 


My rund as generous, and my shape 
as true. 


auU)ii4Uiviiu{Miuiu^uimMM«uuu £rt trilt. 

Ug ? ir ° r As hones, rna ^ ,!«' 

n^asannnpnxairorcMoSoftcn Piw werrf “ieginmatr": 


when we call someesm a bastard we 
do not mean that he is a “love 
child,” but that he has the charac- 
teristics of inferiority that have 
long been contemptuously and 
quite unfairly attributed to the 
product of HaisOTB not benefited by 
dergy or Chy Hah. Thai taboo an 
the dor soflh over to a restriction 


Weft hi y legitimate, if this letter , 


And my iaremum thrive, Edtmmd 
the base 

Shad up A' legitimate. / grow; I 

NoJf'gcx&ssand up far bastards! 
Mew Ymk Tma Strtue 


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New P i o r ar m* Ho iB t of 378 rq-ra. 

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Omm 4DD sqm of tenraai fa artw- 
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Mty eqrapped far Oouffeur to me 

lated'laMr Beta' Security Syifansi 
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REAL ESTATE 
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GREAT BRITAIN 


URGE BEGAN! KMGHT5VHDGE 
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tale or in exmxige with property in 
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212196 STAR GS 


HOLLAND 




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] 



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Tbe Globa? Newspaper 

Pans 

Printed SinmitaneousV 

Zurich. 

wut^ pata appear on Pagc l6 

No 31,874 ^ ~~ 


‘•\r v- 


Pentagon’s Victory 
Opens a New Batde 


$ Experts OverStor age and Testing 


% Bill Keller 

. . Nw >’«* 71mo Serw« 
WASHINGTON -The expect- 
ed decision to end a 16-warmora. 
torium 'and resume military mo- 
duction of chemical weapons is 
herns cdebrated by the Pen taam 
as the end of a long campaign . 

A House- Senate conference has 
authorized $155 million to begin 
production of a new chemical 

bomb and artiflery shelf, billed as a 

safer replacement for aged stock- 
piles of nerve gas. 

nerve gas program, part of a 
bfil authorizing $3015 billion in 
military programs for the fiscal 
. year beginning Oct. I, has been 


including where they wouldbede- 
pkyed and how they would be test- 
ed. 

Interviews with Pentagon offi- 
cials, members of Congress, scien- 
tists, and others involved in the 
chemical weapons debate have 
rased the following points: 


perfecting more advanced nerve 


To some observers, that raised 
the prospect of a continuing chemi- 
cal arms race. 

Richard E Cavazos, a retired 
army general who served on Presi- 
dent Ronald Reagan's Otemcal 


I MI J lfl l IUV pv>uiu>. IVIfU^UU M 

• Although most experts have Warfare Review Commission, 
said that Europe is the most likely **** endorsed the new chemical 
scene for a battle with chemical program in June, said he was often 
weapons, European allies have exas P craIe d by ^ reluctance of 
balked at even discussim, rh P Pentagon officials and critics to 


balked at even discussing the de- Pentagon officials and critics to 
ployment of the new weapons on look *** imm e di a te pro- 

v their soil Pentagon officials say P 033 ^ 
f they have now decided to deploy One of the most politically vola- 

- them only in the United States or ^Ie issues was whether to deploy 
on ships, which critics say would be the new weapons in Europe, espe- 
too far from battlefields. dally after campaigns to deploy 

• Many scientists and mtelti- missiles and neu- 

gcnce officials believe the United traweapws there. 

States cannot be fully confident • The House, arguing that an en- 
that its new weapons wffl work countor by superpowers would 


sPksf'- 


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Published With The New York Times and The Washingtofc^t ^ 7 


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— XID. 


ZURICH, TUESDAY, AUGUST 13, 1985 


ESTABLISHED 1887 


obsolete before it is completed. The 
cities have faulted the array for 
not designing long-range, un- 
roanned weapons to deliver chemi- 
cal agents behind enemy lines with- 
out risking die lives of pilots. 

• Talks aimed at an internation- 
al treaty banning chemical weap- 
ons remain stymied in Geneva, and 
there was little optimism among 
Reagan administration offi cials or 
outside experts that the impasse 
could be resolved, because sod) a 
treaty would be extremely difficult 
to enforce. 


bfli authorizing $302.5 billion in The Pentagon has promoted its 
military programs for the fiscal new chemical weapons program in 
year beginning Oct. J, has been P® 1 on the ground that a sign of 
approved by the Senate and awaits American determination would in- 
• a final- House vote in September. . duce the Soviet Union to bargain 
But according to a wise ranee of more seriously toward a b an. 


But according to a wide range of more seriously toward a ban. 
experts on both sides of the issue, But talks aimed at controllin g 
the debate has left unresolved a chemical weapons have gone on 
number of divisive questions about without success since Wi and 
the Future of the United States’s American intelligence officials 
involvement with these weapons, have said that the Soviet Union is 

irtpftl/llvto tutuiM Aaii MA..1 J L _ J _ »»nrf ii !»!■■■ * 



Three women walked to a makeshift medical clinic in Institute, West Virginia, Monday, 
the day after a chemical leak at a Union Carbide plant sent scores of residents to hospitals. 

Emergency Warning System Failed 
In Union Carbide Leak at U.S. Plant 


Mates cannot oc ruuy connaent - ,uw **««*“* u****. an wi- 
thal its new weapons wffl work by superpowers would 

without open-air testing, banned in most hkdy begm m Europe, voted 
the United States since 1969. Yet to “quire that the North 

politicians have said that there Atlantic Treaty Organization for- 
would be emphatic public resis- mafly agree to store the new weap- 
tance to iesunung teste: • ons on its soil before production 

• A presidential: commission • c 9 t ftr- ... P . 
that endorsed the production Of « 

nmv npTw.ffftSKm funftantsanmmr Tent^on and State Department 


new nerve gasesrn June was among 
those who nave said that the army 
chemical weapons, program nuq-.be 


; After strong objections from the 
Pentagon and State Department 
that this would cause political tur- 

(CootuRKd on Paged, CoL 5) 


The Associated Press 

INSTITUTE, West Virginia — 
The emergency warning and shut- 
off system installed at a Union Car- 
bide Corp. plant here failed in Son- 
day's leak of of toxic chemicals, 
local officials said here Monday. 

The system was installed after 
the leak of a chemical at a Union 
Carbide plant in Bhopal. India, last 
year killed more than 2,000 people. 

Six plant employees, one serious- 


fy injured, aim about 130 nearby 
residents went to hospitals Sunday 
with lung, eye, nose and throat irri- 
tations after the leak of a chemical 
used to make a pesticide. Thou- 
sands of people were asked to stay 
in (heir houses for several hours, 
until the chemical dissipated. 

The mayor of Charleston, West 
Virginia, Mike Roark, accused 
Union Carbide of not providing 
adequate information about the 
leak at its pesticide plant, which 


spread a chemical cloud over four 

mmmtrnititis 

“They did not notify anybody 
other than making an initial call to 
the county." Mr. Roark said Mon- 
day. u and the information that 
came from them was sparse to say 
the least," 

Doctors said most of the injured 
would recover quickly. 

Officials said the chemical unit 
was shut following the leak, bat 
that workers were back at work 
Monday in other parts of the plant. 

Meanwhile, the company 
planned to respond formally to 
complaints about its emergency 
procedures but had not derided on 
how to do it. a spokesman, Charles 
Ryan. said. 

The chemical doud spewed from 
a unit titat uses methyl isocyanate, 
the substance that leaked last De- 
cember in the Indian city of Bho- 
pal The substance that leaked here. 


aldicarb oxime, is made from meth- 
yl isocyanate, but that chemical is 
consumed in production. 

Company officials said a cloud 
of aldicarb set tied on nearby homes 
after leaking from the plant when a 
gasket on a storage tank failed. 

Many people living near the 
plant said their homes had already 
been engulfed in fumes when they 
first heard the plants emergency 
siren. 

“Carbide’s got to do something 
better than tins," said Donna Wil- 
lis. one of nearly 300 residents ex- 
amined at an emergency clinic. 

“We can’t let them wait 10, 20 or 
30 minutes before they let you 
know what's going on,” she said. 
“We could have been dead.” 

The company said it bad notified 
the county Office of Emergency 
Services of the incident within “ap- 
' Omtinued on Page 2. Col. 5) 


524 Are Feared Dead 

In Japanese 747 Crash 
After a Door Problem 


Compiled to Our Siajj From Dispatches 

TOKYO — A Japanese Boeing 
747 with 524 passengers and crew 
members aboard crashed and 
burned in the mountains near here 
Monday night, in what could be die 
worst single plane disaster in the 
history of civilian aviation. 

Hours later, there was still no 
official word about casualties or 
survivors. Rescue teams were 
climbing through forests and 
mountains northwest of Tokyo to 
search for survivors, if any. from 
Japan Airlines Flight 123. It was 
bound from Tokyo to Osaka. 

A JAL spokesman said the pilot 
had reported trouble with a door. 

A military helicopter pilot who 
flew over the crash site, far from 
the airliner’s planned flight path, 
saw nothing but flames. 

“We could see the flames for five 
minutes before reaching it," Izumi 
Oman said after he landed. “I saw 
flames at more ihan 10 places." 

“1 could not see the wreckage." 
he added. “But the flames did not 
look like woods burning." 

Pilots of two other planes report- 
ed seeing an aircraft minting in air 
before the crash, Tbe Associated 
Press reported. 

Geoffrey Tudor, a spokesman 
for Japan Air Lines, said the pas- 
senger list included 21 non-Japa- 
nese names. “There are some West- 
ern names." he added. 

The worst one-plane crash ever 
recorded until now was of a Turk- 
ish Airlines DC- 10 near Paris in 
1974, in which 346 people died. A 
cargo door opened, causing explo- 
sive depressurization, and the floor 
collapsed, severing control lines. 

The worst accident reported in 
commercial aviation history was at 
Tenerife in the Canary Islands in 
March 1977. when 582 people died 
in a runway collision in fog of two 
Boeing 747s. one operated by Pan 
American World Airways and the 
other by KLM. 

The JAL plane was operating 
from Tokyo’s Haneda Airport to 
Osaka during one of Japan's busi- 


est holiday travel seasons, when 
city dwellers traditionally return to 
visit home villages. 

The 509 passengers included 12 

infants, the JAL spokesman said. 
The plane had 15 crew members. 

Officials at the U.S. Air Base at 
Yokota. 21 miles (34 kilometers) 
west of Tokyo, said the pilot bad 
requested and received permission 
lo make an emergency landing. 

However, the plane disappeared 
from radar screens when it was 
near Saku. a city in the Nagano 


SOUTHy 

KOR£A\ 






_ . ov 

iTokyo 


Jumbo Jet 
Crash 

mill 


District. The time of the crash was 
calculated at 6:54 PM 

The Japan Broadcasting Corp. 
said there was a thunderstorm in 
ihe area about the time the plane 
went down. 

The site of the crash is in an 
uninhabited area that is accessible 
to land vehicles, the police said! 

Relatives gathered at (he airport 
in Osaka to await word. 

Kyodo News Service quoted wit- 
nesses as having said they saw the 
Boring 747 make a long turn and 
then they saw “red and black,". — 
fire and smoke. 

Tbe Japan Broadcasting Corp. 
said some people in the Nagano 
area had telephoned (he network to 
report they had heard a loud crash 
and had then seen a “mushroom 
cloud." 

The Boeing 747 appeared to be 
off course between Tokyo and Osa- 
ka when the trouble started. 

The JAL spokesman. Mr. Tudor, 


said by telephone that the plane's 
captain, Masami Takahama. 49, ra- 
dioed that “there was trouble with 
a door on the deck of the main 
cabin" and that the door appeared 
to be on the right rear side. 

Japan Broadcasting said the first 
emergency message from the pilot 
was received at 6:39 P.M. The U.S. 
air base at Yokota authorized the 
plane at 6:54 P.M. to make an 
emergency landing. 

(hie report of a plane on fire 
came from the pilot of a U.S. Air 
Force C-I30 transport, and the oth- 
er from a plane of the Japanese Air 
Self-Defense Force, Japanese news 
reports said. 

JAL said the plane was a short- 
range 747. a model built to carry a 
large number of passengers on rela- 
tively short flights. 

One of the passengers, it was 
reported, was Kyu Sakamoto, a 
singer known worldwide for a hit 
record in the 1960s, “The Suiiyaki 
Song." (Reuters. AP) 

■ The Worst Crashes 

Following is a list of the worst 
civilian aviation disasters, as re- 
ported bv The Associated Press: 

1. Man* 1977: 582 were killed in 
a collision of (wo Boeing 747s oper- 
ated by Pan American and KLM 
on the runway at Tenerife, the Ca- 
nary Islands. 

2. March 1974: 346 died in the 
worst single-plane accident to that 
time when a Turkish DC-10 had a 
cargo door problem and crashed 
northeast of Paris. 

3. June 23. 1985: 329 were killed 
when an Air-lndia Boeing 747 fell 
into the Atlantic off Ireland. An 
explosion is suspected as the cause. 

4. Aug. 19, 1980: 301 died in a 
Saudia L-10U making an emergen- 
cy landing at Riyadh in Saudi Ara- 
bia. 

5. May 25, 1979: 273 were killed 
at Chicago when an engine fell off 
an American Airlines DC- 10 dur- 
ing takeoff and it crashed. 

6. Sept 1, 1983: 269 died when a 
Korean Air lines 747 was shot 
down by a Soviet jet while in Soviet 
airspace near Sakhalin Island. 




Paris Police 
Kill Gtumian 

' In Mosque 


PARIS — Police shot and.kffled 
an unidentified Algerian, who held 
a hostage at gnnpoint for nearly 
five hours Monday in the Grand 
i.;* Mosque erf Pairs. 

— Hit by several bullets, the gun- 
man was too badly wounded to be 
moved to hospital and died in the 
mosque, police said 

The hostage, a mosque official, 
was freed unharme d, but another 
. . employee shoi by tbe gunman at 
the start of the siege was taken to a 
hospital with serious injuries to the 
liver. 

- ^ Tbe gunman entered the mosque 

shortly after the start of afternoon 
m** prayers, when about a hundred 

worshipers were inside the sprawl- 
ing whitewashed complex on the 

« Left Bank of the Seine. 

A witness said she heard nun 
;> shout: “fhavea gun." Then betook 

a weapon from a bag and fired at 
: Rabbah Dramchine, the mosque s 

c : personnel chief. 

The T" an seized Omar Hadj], the 
mosque’s chief of protocol as* 
hostage. The rector, Sbdkh Abbas 
> Benchrikh-d-Hocine, was at first 

feared to be among the hostages 
but police said he managed to lock 
_ ■ 1i * hims elf in his office. 

The Paris police’s anu-comman- 
- 1 ' do unit had surrounded the 

mosque, winch. is m the Latin 
- Quarter. A 51316 prosecutor negoti- 

ated by phone with tbe gunman, 

I ^The S mmman demanded to be 

flown to Algiers, and an Algerian 

, ^nSXrfthemosp-eto 

v> negotiate with bint. Shorty 

7 PML the hostage tried to escape 

■ and police sharpshooters fired four 

% shots, hiaing the gunman. 

“After the negotiations jArai 

. wffltonuntfl7.thetoWrt^ 

get out of the office m “htchi re was 
• Mug held 

a Palis poh« spokesman. « licna 
■ U “wha> the police saw the bos- 

■ tops 

■ 0t Sed.Be=— the 

death 

/ *> Sk » HmUs 
' - 

thorities as a “crazy mystic- 
About wo wtom Moslems live 

in France. (fcuters, AP) 



Mine Conflict Smolders 

In U.K., Uncertainty and Bitterness 


INSIDE 


police stood outside the Grand Mosque of Pam Monday 
after a gunman wounded a man and took another hostage. 


By Jo Thomas 

New Yorh Times Service 

SOUTH KIRKBY, England — 
It is not his drills, which are many, 
or his dothes, which are few, that 
most trouble Jeffrey Johnson, a 
West Yorkshire coal miner, in the 
aftermath of his union’s yearlong 
strike, which collapsed in March. 

The worst part, ne said as he gpt 
ready for the night shift at the mine 
where he works as an electrician, 
was the knot he gets in his stomach 
before the shift begins, “like you 
felt in school before taking exams; 
you don’t know what’s coming." 

He and thousands of other mem- 
bos of tbe National Union of 
Mmewodcers stayed out until the 
end, then went hack to work in 
early March without an agreement 
on the state-owned National Coal 
Board’s plan to close unprofitable 
mines and eliminate 20,000 jobs. 
During the strike; which began on 
March 6, 1984, 9,700 miners quit or 
retired, and since then 7500 others 
lave departed. 

A joke told among miners, Mr. 
Johnson said, is that management 
got rid of 20,000 minos, but they 
were all moderates; the militants 
stayed behind. 


Underlying that joke, he said, is 
almost daily conflict between the 
miners and management over safe- 
ty standards and discipline, bitter- 
ness toward miners who crossed 
picket lines during the strike, anger 
over the hundreds of miners dis- 
missed during the strike and suspi- 
cion that management is on a cam- 
paign, one way or another, “to wipe 
the militant areas out ” 

The central issue of tbe strike 
was management’s insistence on its 
right lo close uneconomic pits. It 
had promised to reduce tbe work 
force through retirements and vol- 
untary resignations, transferring 
miners who still want to work, but 
members of the union felt this was 
not enough. 

Since the end of the strike, it 
appears that the loss of jobs may be 
far greater than even tbe striking 
miners feared. Although 19 mines 
have been designated for dosing 
since March 1984, reports pub- 
lished in July said dial the manage- 
ment ultimately intends to dose 50 
mines and eliminate 50,000 jobs, 
more d«n twice as many as tbe 
original target. The management 
called the reports “speculative " 

(Continued on Page 2, CoL 3) 



The Parents of Martyrs 9 

Soweto Families Fear for Children 


• ’** W 
Ww- 


\ poster in the Soviet 
sobriety drive vowing a 
“battle with hooligans 
and drunks. " Page 2. 

■ Conditions in Watts are little 
changed 20 years after the riot 
that shocked the world. Page 3. 

BUSINESS/FINANCE 

■ Japan’s largest shipping com- 

pany may have to seek court 
protection, industry sources 
said. Page 9.. 

SPORTS 

■ Hubert Green won the PGA 
championship. Page 17. 


For Japan, the Fear Is That Prosperity Won’t Last 


By John Burgess 

Washington Post Service 

TOKYO — The tale is told of a Japanese 
Rip Van Winkle, who, having entered his 
slumber in the dark, final days of World 
War II, awakens in modem Tokyo. He is 
dumbstruck by the skyscrapers, cars and 
throngs of smartly dressed people. Silently, 
he rejoices. Somehow, that terrible war was 
won. 

Forty years after they raised tbe white 
flaa, the Japanese have given history one of 
itseboicer ironies. They have ariiered m 
'defeat much of what lEey sought fruitiesdy 
in wan affluence, military security, the 
respect of foreign countries and economic 
domination of the Far East. 

But with all its success, Japan continues 
to see itself as a society living on the ^edge. 
it is forever debating whan t owes to the 
world, how long the good times can last 
and whether wealth has brought true hap- 
piness. To that last qnesntm, more and 
Jnore Japanese answer no. 

Not that anyone would turn back the 
de**- Japanese today hve longpr than «iy 
SEfe oh&rth. Life expectancy is 80 J 
HJ for women, 74.5 years for men. They 

K exceUent health- They can pass from 
cradle to grave without a sffigle encounter 
crime. Their streets are clean 
and their waiters pokre. 

When Japan surrendered on Aug. lb, 
1945 Tokyo and the other great ernes were 
bbctenednclds of ah.«nl wnted meld. 


Most factories were ruined and shins sunk. 
Three million Japanese were dead. Many 
of those who had survived were living on 
sweet potatoes and other Toots. 

The devastation was so complete that 
American paratroops scouring Yokohama 
for food for General Douglas MacArthur's 


Die Pacific 

At War and at Peace ■ 

first of four articles 

first breakfast in Japan reported back with 
one egg. 

The reconstruction began. 

“People came to believe that happiness 
is found in having things and money, said 
Jiro Kamishhna, a political science profes- 
sor at Tokyo’s Risho University. 

The Jappese approached their new task 
with the single-mindedness that they had 
applied to making war. 

Americans say tbe squeaky wheel gets 
the grease. But Japanese say die nail that 
sticks up gets hammered down. And by 
most accounts, it is that conformity and 
unswerving loyalty to the group that are 
the keys to understanding the Japanese 
character ami the country’s stunning suc- 
cess in world commerce: 

Today’s Japan, with its 120 million peo- 
ple, is a finely tuned, S I _2~irillion economy. 


second in size only to the United States 
outside the Communist bloc. Its steel, aoto 
and electronics industries are the envy of 
tbe world. The challenge now to Japan is 
how to sell less lo trading partners who are 
angered about Japan's trade surpluses. 

Gross national product, the total value 
of goods and and services, will rise an 
estimated 4 percent in real terms this year. 
Exports, which are expected to rise to $180 
billion, will include power-generating 
equipment for China, automobiles and dig- 
ital phone exchanges for the United States 
and cassette recorders for Bahrain. The 
cheap toys and saucepans that once made 
the stamp “Made in Japan" synonymous 
with junk in many Western countries van- 
ished years ago. 

Since the war. the United States has 
become Japan's most important economic 
partner, taring 35 percent of its exports 
last year. Despite Washington's huge defi- 
cits with Japan, winch reamed $37 billion 
is 1 984, the United States does make major 
sales here. Japan is the largest foreign mar- 
ket for American farmers, with almost $8 
billion of purchases in 1984. 

But mum of Japan's trade and invest- 
ment is directed at former members of the 
“Greater East Asia Co-Prosperity Sphere." 
as its wartime empire was called. Japanese 
disdain historical parallels but also suggest 
that economic dominance of the region is a 
natural byproduct of industrial might- 

The Indonesian oil reserves that Japa- 
nese troops seized in. 1942 to fuel the war- 


ships of the imperial fleet are again produc- 
ing for Japan, this time on long-term 
contracts. Japanese goods and factories are 
found throughout Southeast Asia, Taiwan 
and South Korea. Increasingly, they show 
up in China, too. 

There are no Japanese soldiers today on 
Saipan, the Micronesian island that U.S. 
Marines secured in 1944 after one of the 
fiercest battles of the Pacific war. But it is 
dotted with Japanese restaurants and ho- 
tels for the thousands of Japanese who 
vacation there every summer. 

Despite these facts, the Japanese are 
quick to contend they have a long way to 
go. Japan has been called a rich country 
inhabited by poor people. Gross national 
product, while huge in absolute terms, 
ranks only 14th in the world on a per capita 
basis. 

The typical Japanese borne is tiny, cold 
in winter, hot in summer and expensive. 
Bedrooms are often the size of American 
walk-in closets. In 1983, only 58 percent of 
all homes in Japan had flush toilets. Sanita- 
tion is neglected; some Tokyo streets smell 
of raw sewage. Formerly beautiful coast- 
tines have been marred by oil refineries and 
factories. 

Today, Japanese are increasingly asking 
questions about the social cost onhe great 
economic miracle. What happens to family 
ties when fathers routinely come home at 

(Continued on Page 6, CoL 4) 


By Glenn Frankel 

Washington Past Service 

JOHANNESBURG — Wilfred 
Ra tala’s 15-year-old son. John, 
came home from school recently 
with a police bullet in his leg. 

As bis father told h, John was on 
his way home in Soweto when he 
was caught in fighting between po- 
lice and local youths. The youths 
had rocks, and the police automatic 
rifles and shotguns. When the dust 
cleared, John's right leg was bleed- 
ing from a shotgun wound, and he 
dragged himself home. 

Mr. Ratals did not take his son 
lo tbe local hospital, where “1 knew 
he could be arrested," but to a local 
physician. 

“It makes me very angry, but 
what can I do?” said Mr. Ratala, an 
insurance broker in South Africa’s 
largest blade urban community. 
“The police can shoot anyone they 
(ike. No one can stop than.” 

These are times of pain for many 
parents of South Africa’s black 
townships as they watch their chil- 
dren standing on the frontline of 
the low-levd war against the state. 

Some become the parents of 
martyrs. They can be seen at politi- 
cal funerals huddled on simple 
grass rugs, staring at their cfiil- 
dren’s coffins while speeches are 
made. Others search for children 
who have been detained by police 
for their alleged role in the unrest 
or who have gone into hiding a step 
ahead of the law. 

The Detainees' Parents Support 
Committee, an opposition civil 
rights group, said it believed that 
more than half the 1,500 people 
detained since South Africa’s state 
of emergency took effect July 21 
were age 18 or under. An average of 
20 parents a day go to the commit- 
tee’s overcrowded office in central 
Johannesburg seeking advice and 
assistance in locating their chfl- 
dren. 

Tbe families are often torn by 
conflicting emotions: agonizing 
fear for their children: anger, often 
first directed at the children, then 
at tbe police and, ultimately, the 
white-minority government. With 
some, there is a small dose of pride. 

As the unrest in black townships 
continues, its recruits grow youn- 
ger. Beauty Guduka’s 1 1-year-old 
son. Fame, left July 1 1 to play with 
friends in the craggy, rock-strewn 
streets of Alexandra, a black town- 
ship north of Johannesburg. 


snip north of Johannesburg. 

His mother was visited that eve- 
ning by a white police officer and a 
half-dozen black policemen who 
told her the boy had been arrested 
for throwing rocks at police. She 
witnessed her son make a written 
confession. Four weeks later, he 
was still being held without bail at 
John Vorsier Square. Johannes- 


burg’s central police jail, on 
.charges of pnblic violence that 
could bring him a maximum 10- 
year sentence in a reformatory. 

His lawyer. Krishna Naidoo, 
said police and judges no longer 
seemed interested m mitigation 
pleas based on the youth of a de- 
fendant 

“They say outside agents are us- 
ing these kids as agents of unrest" 
be said. “Age is not a factor to the 
police.” 

Edwin Melk said be wished his 
17-year-old son, Isaac, were just an 
ordinary student instead of a leader 
of the anti-apartheid Congress of 
South African Students. Mr. Melk 
was asleep in his Soweto home at 3 
AJVL last week when be heard a 

(Continued on Page 2, CoL 7) 


Black Boycott 
Expandsin 
South Africa 


The Associated Press 

JOHANNESBURG — A black 
consumer boycott against white 
businesses spread to Johannesburg 
and Pretoria on Monday, while se- 
curity police forced striking blade 
students to attend school in a town- 
ship near Johannesburg. 

Police reported scattered rioting 
in the country. There were reports 
that at least four blacks were killed 
in racial unrest. 

Hospitals in Durban reported 
two deaths in outbreaks at black 
townships, bringing to 67 the total 
reported killed in the Indian Ocean 
port in nearly a week of violence. 
More than 700 were injured in the 
week of rioting, the most intense in 
a day since protests against apart- 
heid began throughout the country 
1 1 months ago. 

Newspapers said that at least 
two blacks, one of them a 12-year- 
old girl, were killed Sunday as fire- 
bombs and stones were throws be- 
tween youths and residents of a 
workers’ hostel at Mamelodi, near 
Pretoria. 

Black activists announced the 
start of consumer boycotts in Pre- 
toria and Johannesburg, the two 
main cities in South Africa's busi- 
ness and industrial center. They 
said a boycott would begin 
Wednesday in Cape Town. 

Black boycotts of white busi- 
nesses began a month ago in the 
eastern area of Cape province in 
the southern part of the country. 
The boycotts are seen by many mil- 
itants as the best way to make iheir 

{Continued on Page 2. Col. 6) 


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Page 2 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 



Soviet Anti-Booze Drive: For Now, an Uneasy Sobriety Prevails WORLD bri efs 


By Seth Mydans 

New Varik Times Seme* 

MOSCOW — As the Trans-Si- 
berian railroad set off recently on 
its Beijing- to- Moscow run, it was 
filled with the tipsy revelry that is 
traditional in much of Russian life. 
But as it approached the Soviet 
border, a passenger recalled, the 
bottles were pul away and passen- 
gers retried down to a long, ary ride 
across the steppe. 

In cities and towns across the 
Soviet Union, a two-month-old li- 
quor law has taken hold and is 
transforming much of the way Rus- 
sians live tbdr daily lives. 

The traditional mugs of beer 


rants are often nearly empty before 
2 PM., the hour when liquor serv- 
ing may begin. 

The new law. which took effect 
June 1, is a major event in a nation 
where for decades, if not for centu- 
ries, drink has teen an intimate 


form of recreation and escape. 

In recent years it has developed 
into a problem that paralyzes the 
and symbolizes an ab~ 


a 

theSoviet Union back on tire* novt 
Though this nation is far less 
prone to fads than the United 
States, fads carry considerable 
weight when they come straight 
from the top, and sobriety is sud- 
denly the in thing . 

The reaction to the new law has 
reached the point where formal 
(oasts, obligatory at any social oc- 
casion, are raised without lifting 


sence of motivation or energy that even a glass of water to the lips, 
has overtaken much of Soviet life. Officials who used to press mm- 


Tbe new regulations attack the 
problem on various fronts, by rais- 
ing the drinking age to 21 from IS, 


by closing liquor stores for all but 
have disappeared from many of the f ,v * hours a day. 


steamy tollhouses where people strictioos on illegal dome Drew, and 
beat each other with birch by increasing penalties for bang 
hranr>h*c Snm« waiters have dnmk in public or on the job. 


teaing re- 
brew, and 


branches. Some waiters have 
walked off the job in restaurants 
where reduced liquor sales have cut 
down on tips. 

Sales of eau de cologne are re- 
ported to have increased as alco- 
holics. desperate for a drink, feel 
die effects of shortened store hours. 

Long lines now form outside li- 
quor stores before they open at the 
new, later hour of 2 PjkL, and 


before their early closing at 7 PJ 
as people rush to buy a bottle on 
their way home from work. Restau- 


public or on the job. 

Newspapers report a drop in li- 
quor sales of as much as 30 percent, 
and the police say they are arrest- 
ing thousands of violators. 

Vodka production is to be cut 
□ext year, and the production of 
some fortified wines is to stop en- 
tirely in 1988. The output of soft 
drinks and mineral water is to rise. 

The law is the first concrete step 
that the new Soviet leader, Mikhail 
S. Gorbachev, has taken to change 
Russians' lives. It has been taken as 


biers of vodka on their guests now 
decline even a glass of wine at din- 
ner. 

Some Russians, though, are say- 
ing that if the new restrictions are 
to be more than a passing fad, Mr. 
Gorbachev must still address the 
deeper causes of alcohol abuse, 
which they say include boredom, 
the many small hardships of daily 
existence, and a certain emptiness 
in life. 

In the first month after the law 
took effect, according io Internal 
Affairs Minister Vi tali V. Fedor- 
chuk, the police recorded 15,000 
violations, mostly among mer- 
chants who were not observing new 
restrictions on the places andhours 
of sale. 

A two-day crackdown at the end 


of last month in Moscow 
273 people selling bottles illegally 
from cars or out of shopping bags 
on street comers. 

In the southern Russian district 
of Belgorod alone, according to the 
Communist Party newspaper 
Pravda, the police destroyed more 
than 500 illegal stills and put the 
names of nearly 2,500 home brew- 
ers on a blacklist. 

Introduction of the law has been 
accompanied by a propaganda 
campaign of a magnitude posable 
only in a press that is orchestrated 
from above. 

‘The propaganda is wotting, 
and there is a new attitude toward 
drunks,” stud an office worker, 
adding: “Now people look at 
drunks on the street in a new way. 
with disgust on tbdr faces.” 

But the laws are affecting more 
Than dr unks, and ordinary folk who 
want a bottle of c hamp a g ne for a 
birthday party are complaining 
that shortened hours for liquor 
stores, and the long lines that have 
resulted, are making their lives dif- 
ficult. 

“Tough measures are OJC. in 
1 said one man, “but when 


out to an 


Pakistanis Riot After Famflyof 9 Siam 

ngs it nas to swing so ran The statistic Worked out to an RAWALPINDI, Pakistan 
newspaper Sotsiaiistiches- average consumption of more than onstrators Monday after thousands of noters prowsiea toe unexplained 

idustriya reported on an 20 bottles of liquor a person each kfliing of nine members of one “J®?--, rt^naK mmnm nam ni 

were buroed in scvedKs. Residents 

ile were killed and charged that police wot unable to protect tfc 


American visitor a soft drink, said: adults turned in 150,000 bottles for 
“Isn't it a pity that when the penriu- the bottle-return payment, 
lum swings it has to swing so far.” ■"** . 

The 

kaya. industriya 

anti-alcoholism seminar among 
railroad workers where vodka was A young Russian voiced the 
served, and which ended as a widespread view that drinking 
drunken party. filled a void in Dfc that went deeper 

«• n j~ r n| j, than social ritual. For the new laws 

«^x'° * prajuKd 10 

that signaled an intention to make - 

difllcultdeciaons. to break with . ^ 8™* “ 

sluggish economy out of its stupor. & 

Owrgtt of aicohol abuse appear Hfi a shomge of 

to be finding a political use. as ^ blandness of 

some regional Communist Party tSewaon and films, the difficulty 
organizations are expdhug some of of buying good books, and, above 


pa . 

The riots 
including five 


after news 
[drcn, had been 


that nine members of a Tandy, 
bv a stood of men who brake into 
that home. The victims were stabbed and beaten with dubs and bricks, 
the police said. 

Firebombs Found in U.S. Troop Cars 

FRANKFURT (Reuters^ — Two incendiary devices were found 


their less productive 
drunkenness. 


Monday by deaners on 
bomb attack on the U.S. Rncm- 
police said. 


railroad cars, four days after a < 
in Air Base killed two Americans, 


those measures affect you person- 
ally, it's not so OJC.” 

A Soviet journalist, offering an 


Drunkenness is rumored to have slogging through 
contributed to the fall last month day consumes so much energy, 
from the Kremlin's elite of Grigori 
V. Romanov, an erstwhile Politbu- 
ro rival of Mr. Gorbachev’s. 

An indication of the scope of 
drinking throughout the country bade something 
was given in a recent newspaper 
artide about a village near the Be- 
lorussian city of Minsk. Each 
month, it said, the village’s 7.000 




ft* ail, the barrenness of life, especially 
outside 



station overnight. 


He referred to a con mas m a 
story by O. Hairy who said that 

whenever be took something from _ , . » , 

Greenpeace Says Suspects m Amca 

fake diamond, some smite or at PARIS (AP> — Three men 

least a punch in the nose. sought in connection with the July 

“Maybe well get the last of ~ •• **- 

these,” he said. 


New Fi ghting in Beirut 
Endangers Peace Moves 


Reuters 

BEIRUT — Rival militias 
poured rocket, mortar and artilleiy 
fire across Christian and Moslem 
areas of Beirut on Monday, under- 
mining Syrian-backed moves to 
radlO years of civil war in Leba- 
non. 

Security and hospital sources 
said seven persons were killed and 
32 injured in Moslem-held West 
Beirut, while a Christian radio sta- 
tion reported three dead and 10 
injured in the eastern part of the 
city. 

There was no obvious reason for 
the upsurge in fighting, but both 
Moslem and Christian media said 
it was designed to upset Syria’s 
efforts to reconcile factions that are 
deeply divided over proposals to 
change Lebanon’s system of gov- 
ernment. 

The bombardment flared spo- 
radically Sunday and rose over- 
night before subsMing at dawn. 

Sniper fire continued later on the 
Green Line between East and West 
Beirut. 

The main factions acknowk 
that a Syrian rote is vital to 
end the civil war, but they agree on 
little else. 

A new Modem-leftist coalition. 


the National Unity From, demand- 
ed last week that the tradition of 
sharing power among the country's 
religious sects be abolished. 

The Maromte Christians, who 
have controlled the presidency 
since independence in 1943, see 
this as a threat. 

The Maronite community ap- 
peared to close ranks recently when 
former President Suleiman Fran- 
jieh, a Syrian ally, ended a seven- 
year dispute wnh the powerful 
Christian Lebanese Forces militia. 

Mr. Fraajieh, who was president 
at the start of the civil war in 1975, 
and pro-Syrian Moslem leaders 
have called for the resignation of 
President Amin GemayeL But 
chances that Mr. Gemayel would 
do so receded after President Hafez 
al-Assad of Syria received him in 
Damascus last week. 

Meanwhile, in Tel Aviv, a mili- 
tary spokesman said that Israel 
would release 100 Lebanese detain- 
ees Tuesday. They were among 
those whose release was demanded 
by the hijackers of a Tram World 
Airlines plane in June. 

About 250 will remain after 
Tuesday's release. Two other 
groups were freed in July. 



Residents of West Beirut dear away the charred wreckage of a car hit by a shell Monday 
after a night of bombardment The fighting endangered new Syrian peace plans. 

Uncertainty, Bitterness AmangU.K, Miners 


(Continued from Page 1) 
There are now 164,000 working 
miners. 

Arthur ScargDL president of the 
miners’ union, said at the unio n's 
conference in Sheffield in My that 
the decision to return to work with- 
out an agreement was a “funda- 
mental mistake.” 

“In the present climate,” he said, 
“mily industrial action, hopefully 
involving other mniirig unions, can 
stop a pit closure program which, if 


allowed to proceed, would slaugh- 
ter oar industry.” I r 

Mr. ScargflTs remarks] 
hostile remarks not only : 
the government and management, 
but also from Neal Kinnock, leader 
of the Labor Party, Mr. ScargfiTs 
uneasy ally. Mr. Kinnodc alluded 
to the possibility of another strike, 
threatened by Mr. ScargQL as a 
“fantasy.” 

But an even harsher blow pas 
dealt the union from the Nottihg- 



hamshire miners, who worked dur- 
ing the strike. Conferaice delegates 
not only rejected the Nottingham- 
shire plea for a condemnation of 
Mr. Scaigill but also changed the 
union's rules to make Mr. 
in effect, president for life. 

The Nottin ghamshir e miners re- 


own nman 
areas to join them. 

Although the National Coal 
Board quickly gave the breakaway 
group a written assurance It was 
wflling to begin consultations, Roy 
Lynk, one of die Nottinghamshire 
leadens, said that the board bad 
no role in tbe split and that 
group “will be no bosses’ 
union.” 

, Its ultimate grad, be said, is to 
lake over the national union. 


played j 
his arc 


Black Boycott 
Expands in 
South Africa 

(Continued from Page lj 
protests against white-minority 
rule felt in white communities. 

The 11 months of rioting have 
made many black townships ungo- 
vernable. an « bn of the mili rants, 
but have left white communities 
untouched. 

Meanwhile, the security forces 
pioved to hah the strikes by more 
than 100,000 students that have af- 
fected some black communities for 
months. 

Witnesses said th«r hundreds of 
soldiers and police surrounded 
Kwathema, a township of 175,000 
east of Johannesburg, and went 
house-to-house searching for stu- 
dents who were not in school Po- 
lice escorted youths to schools, us- 
ing rubber whips against these who 
resisted. 

A black reporter who got past 
police roadblocks quoted a pupil as 
saying, “They arrived at my home 
at about 8 AM. and asked why I 
was not going to school. 

He said the police “sjambokked 
me,” meaning whipped him, “and 
escorted me to school” 

Teachers said that police used 
tear gas against students in a school 
courtyard who bad been forced to 
the school premises but who had 
refused to enter classrooms. 

Most schools and universities 
around Cape Town were still being 
boycotted. 

In Johannesburg, more than 
1,000 students boycotted classes to 
protest the state of emergency de- 
clared three weeks ago to give po- 
lice wide powers. 



RMMrt 


David McTaggart 


Rainbow Warner in New 
flew last week to an unname d Afii - 
can country, the head of Green- 
peace said Monday. 

“That is my information,” said J* 
David McTaggart, the chairman of 
Greenpeace^, Paris. “They flew to 
Africa on Wednesday 

Mr. McTaggart said he would 

meet later this week with President 
Franqois Mitterrand of France, 
who has ordered an inquiry to ham 
whether the French secret service 
was involved in the attack. A 
Greenjpeace photographer was 
killed m tbe bombing. 


Polish Court Upholds 2 Convictions 

WARSAW (AP) — A Polish appeals court Monday upfadd the 
convictions of two Roman Catholic priests charged with feadmg a 
stndeat protest against removal of gnomes faro their dassroom ^bm it 
revised a omsyear prison sentence against one of them, the offirial Fdfafc 
press agency, PAP. reported. . 

The provincial court in Kielce suspended tbe one-year prison term and 


raid. It fined the priest 100.000 zlotys (S650). The court upheld a 
month suspended sentence against the second priest, Andrzq wikzyiap, 
who was ordered to pay a 60,000-zloty fine. 

The two priests led a protest Dec. 3-16 involving about 300 students 

and 1 00 parents. They oanipied a school btrikhngm the sou there town of 

Wloszczowa to protest the removal of crucifixes from classroom waas. 
The two priests were convicted by a lower court June 11 for leading an 
illegal stiute and breaking into a school building. 

Sri Lanka Rejects Tamils’ Demands 

NEW DELHI (Reuters) — A Sri Lankan gover n ment delegation 
Monday rqected dema nds by Tamil leaden at peace talks in Bhutan on 
the island’s ethnic dispute, a Tamil spokesman said. 

“We are now prepar in g an answer to Sri Lrmka's total rejection of our. 
Hi-manrt to accept four principles on which negotiations should be 
based,” a spokesman for the Mm National Liberation Front said by 


principles axe recognition of Sn LSAaTs minority Tamils as a 
separate nationally, of their traditional homelands in northern and 
eastern areas, of mde right to sdf-detenninatioB and of their right to 
dtneoship, said the spokesman for the front, an affiance of four gnenffla 
groups. At least 31 people were rifled in ethnic dasbs over die weekend 
in the north and east of the island, security sources in Cotorabojaid. 

viS* • 

U.S. Aide to Visit Mideast on Peade ■ 

WASHINGTON (UPI) — U.S. Assistant Secretary of State RicM 


T pair Alai*m Students were reported returning W. Murphy will leave shortly for the Middle Hast to ujusdtrm revrvhu 

x m l oJ . Ill jo ria«w; at many schools around moves toward peace in the region, the State Department announced 


to classes at many 
« || | •! Durban, where protests were set off 

Galled Failure 

(Confirmed from Page 1) lawyer. Bus service in the town- 
proKimatdy five minnles” of the - 

le r^ „ , . . . _ j.. been detained without charge un- 

Mr. Henderean said the Carbide der the emereency, up from 1,605 
plant sounded a warning siren as Sunday. Of that number, 696 have 

berardearad and 927 are still held 


But the department said no final derision had been r each e d on whether 
he would meet with a joint Joidanian-Palestinian delegation US. contact 



bang sent by I 
George P. Shultz but 




f . •* 

■•s. 


!ovift j 


gave no itinerary. 


'To walk the streets of Paris — without deadline or curfew — 
stalking everything wonderful to eat 


To get lost and rained on. To find the most 
romantic spat for breakfast and the trustiest 
cheesemonger- To quarrd with butchers and 
descend into the great bakers cellar as he 
pulls the days bread from the oven. To be 
tempted and indulged by the ertys most 
brilliant chefs. Its the dream of every one of 
us in love with food. And Patricfo Vifells has 
done it_ No serious hedonist should go to 
Paris without it, and reading it at home is a 
little closer to actually being therer 

“ God Greener New York Ma gazine 
'Jt is impossible to read & and not want to 
be in farts. Now" 

- Ifrk Dwnn, Hie ^pgdes 

lone of the best guides in English. And, 
mon Dieu, it was done by an American. . 
There will be consternation in high places." 

- Frank Prkil, The, Ne w fork Times 


The "Food Lovers Guide to Paris" by the 
International Herald Tribunes restaurant critic 
Patricia Wells, indudes lively critical commentary, 
anecdotes, history and local lore. A great gilt 
idea. Paperback, over 300 pages with 140 
evocative photographs. $ 11.95, plus postage: . 

add $ 150 in Europe and $ 4.00 outside Europe. 

| tet* 

I 


International Herald Tribune Book Division, 

181, avenue Charies-de-GouHe, 92521 NeuiOy Cede*, France. 

Please send 

copies oF FOOD LOVHTS GUIDE TO RAWS/ 

ot $ 1L9S each, phii portage: 

odd $ 150 each n Europe, S 4 each oubxle Europe. 

Please check method of payment: 

□ Enclosed is my payment, (ftjymert can be mode in ouy 
convertible European currency at axnsrrt exchange rotes) 
Reese .mh Mi It} 


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Em dote 


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INtcracnr ter enctfa wd pmehowtl 

Name 


Address 


Country 


13 - 8-85 


soon as tbe leak was detected. 

But emergency personnel in 
IC^arieston, about 12 miles (19 kilo- 
meters) away, were not told, ac- 
cording to Mayor Roark. 

TOadt munitipatity is supposed 
to be notified," be sad. “Our com- 
mand center was not notified.” He 
said the city’s public safety director 
beard it on the police scanner. 

A Carbide statement said “an 
immediate investigation will be 
made to establish the cause of the 
accident and the quantity of mate- 
rial released.” 

About 30 residents were admit- 
ted to hospitals with “mild to mod- 
erate injuries caused by irritant 
gases,” said David Seidler, vice 
chief of emergency services for 
Charleston Area Medical Center. 




■ Peres E nd or ses Bufltdezi 

Prime Minister Shimon Peres of 

Israel, after meeting a moderate 
Hack tribal leader in South Africa, 
pledged Monday to use Israel's in- 
fluence with .the white-ruled gov- 
ernment to appeal against apart- 
heid, The Associated Press 
reported from Jerusalem. 

Mr. Peres also endorsed the non- 
violent approach urged by Chief 
GalshaButhetea, leader of six mil- 
lion Zulus. The chief had asked 
Israel to ^ “use its diplomatic dout to 
influence Sooth Africa to move the 
people towards a negotiated fu- 
ture.” 

■ U5. Protest Held 

Leaders of a coalition 

the apartheid 
rica called on President Ronald 
Rescan on Monday to end all eco- 
nomic and diplomatic relations 


with Pretoria, The Associated Press 
reported from Washington. 

The Free South Africa Move- 
ment, beginning a day of] 
and demonstrations, also 
American corporations to halt all 
business dealings with South Afri- 
ca. 


recep 

- to a list of members for the delegation that would fall within the 
U.S. policy of not dealing with the Palestine Liberation Orga n izati on 
until it recognizes Israel's right to exist 

For the Record 

A 27-year-oM Algerian, Rashid Hamdi, who was injured in Copraba- 
gen on July 22 when a bomb exploded at the offices of a U.S. airline, 
Northwest Orient, died Sunday m a hospital Copenhagen police said 
Monday. (AFP) 

Three leading Czechoslovak dissidents arrested over the weekend, 

Vaclav Havd, Ladislav Lis and Jiri Dienstbier, were released Sunday, 
imigri: sources in Vienna said Monday. (UPI) 

Mozambican rebels reportedly mas sacr ed at least 33 villagers attending 
a funeral in the northwestern province of Tete last week, the press agency 
AIM reported. (Rotten \) 

Correction 

Because of an editing error, two figures in Monday’s Personal Investing 
artide on stockbroker fees were reversed EJ. Hutton charges S92 Tor 
trading 100 shares of a $50 stock. Merrill Lynch quoted a fee of SI03i3. 

South African Group 
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(Continued from Page 1) 
sharp kick at his door. Four white 
security policemen had crane to 
take Isaac to jafl. 

The tough police tactics may be 
backfiring with parents, some of 
whom appear to be growing more 
politicized as the risks to their chil- 
dren increase. 

“Do you think you can cooper- 
ate with the government after your 
kid is shot?” said Mr. Racda. who 
came to the committee’s office 
seeking advice. “It’s just impossi- 
ble.” 

The Detainees’ Parents Support 
Committee, farmed four years ago 



woeors. MASTWS 

fiorWofc, 


UNIVERSITY 

DEGREE 

DOaORNE 


Send dvtalted resume 
tor fr»* evaluation. 

PACffJC WESTERN (NVBES1TY 
eaa n. sepuivmsa Bhm. 

Un Annies. California 
90049, Dept. 23, U-SlA. 


to aid parents and friends of those 
in detention, has about 150 mem- 
bers, including a hard core of about 
30 activists. 

It too has come under scrutiny 
from police officials, who contend 
it is a front organization for radi- 
cals whose purpose is to tanm 
prison officials and smear tbe SUfc 
with false accusations of wriere 
and mistreatment One staff wdr 
er was among the first group dfc 
tained under the em er ge ncy decae-v 

The committee haps para* 
find a Lawyer, trace detuaeo^i 
arrange for prisoners to texxne 
food, clothing and money. ■ 

It cannot be of much use to Ito* 
whose children have dintoK **' 
hide. Mabel Kahi said she Imv.sA 
seen her son, Peter, 21, i * 
student activist in tbe Etst 
township of Daveyton, 

three months. "I 

are watching the home 

, “I don’t know whore be 

mgorwhatheis „ 

“I am not angry at ban, I 
worried, I don't know-*— 
end up. Mavbe be 
dead." 


ia >saJ« 


Ce 


Herul 














INTERNATIONAL HERALD TRIBUNE, TUESDAY- AUGUST 13, 1985 


n/ v. 

-'^XJrtS’Y 


Page 3 


Watts After 20 Years: Conditions That Underlay Riot Remain 


}V By Judith Cummings 

- _ New ^ or * Times Service ' 

: - ANGELES - An entire 

- 8“*™^ has grown to adulthood 

a 7 U i S S * ace T * 0t ipg there 
thewoddtwo decades ago. 

, . T es f^ tc efforts to improve condi- 
- live with high 

. tions with therpofice. 

*p H “* i £? ns are as bad ot worse 
m bourn Central tog Angeles to- 
as t&y were at the time of the 
Wans nots, according to a recent 
joint city-county report. 

Watts, a mostly black section of 
southern Los Angeles, was struck 
by.buming and looting that began 
A Aug, 11, 1965, and went on for six 
“®ys* leaving 34 people dead, 1,032 
. injured, 3,952 under arrest, and $40 
millkffl oTpropertydestroyed. 

The events were considered an 
exptosioa of anger and frustration 
over joblessness, poor schools and 
services, physical and social isola- 
tion from the city as a whole, and 
police brutaHt " 


The Arrest That Started the Troubkon 


» The Associated Pros . . 

LOS ANGELES — Twenty years after an 
arrest that sparked the Watts riots. Marquette 
Fxye surveyed the neighborhood and said: “So 
much has rJumgnd Yetno thing’s changed.”. 

“The trees were bigger then/ r Mr. Frye said 
last week as he stood on thesjxH wherche was 
stopped Aug. IT, 1965, on suspicion of drunken 
driving. “Police cut than bade so we couldn't 
climb up and throw bottles from there.” 

But 20 yean have failed to change the corner 
of 116th Street and Avalon BoolevanL cen- 
to: of theriots. 

Mr. Frye did not have a job then, and be does 
not have a job now. Then 21, he was in his 
mother's 1955 ‘Bufck on his way to a church 


padring lot to meet some friends when he was 
stopped by California Highway Patrol officers. 
It was the last day of his two-year probation for 
gang activity and strong-arm robbery. 

“It was hot, man, red hot” Mr. Frye said. 

Two officers put Mr. Frye through a sobriety 
lest as his friends looked on and others started 
to gather. Mr. Frye’s mother, Rena Frye, and his 
stepbrother, Ronald Frye, arrived before Mr. 
Fiye allegedly took a swing at one of the offi- 
cers. 

More officers were called and after a fracas, 
all three Fryes were arrested and taken to the 
police station. It was just before 7:30 P.M. 

“1 got angry when I saw them treat my mother 
wrong,” Mr. Frye said. “Yeah, sure, I swung at 


them. 1 was mad. 1 didn't swing first like they 
say." 

Accounts circulated that officers mistreated 
the Fryes. Police denied those reports. 

The Fryes were released from jail less than a 
day bier and only then, bearing tbdr names on 
a radio report, learned about the rioL 

Then Mr. Frye saw the ashes where the Japa- 
nese restaurant, the comer barber shop and the 
liquor store had once stood near his home. 

“I just cried,” he said. 

“ftople around here, they don't say it was a 
riot," Mr. Frye said. “They call it five Watts 
revolt. A riot is just a bunch of crazy folk going 
crazy without reason. A revolt means overthrow 
and change.” 


police brutality. It was the worst 
urban riot in 20 years, foreshadow- 
ing similar rebellions to occur a few 
years later in Detroit, in Newark, 
New Jersey, and in other American 
cities. 

Today Wans, a community of 
52,000, has a new hospital a civic 
center, and better bus service. A 
shopping center, named for the 
Reverend Martin Luther King Jr„ 
w opened last wintetand includes the 
fust full-service supermarket in the 
neighborhood since the riot But 

those »m p r n vp m p*Tffc fail to rnaKlf 

the universe of deprivation that is 
Watts in the 1980s. 


the riot, sad today’s unemploy- 
ment rate is about 17 percent. The 
Los Angeles Urban League, how- 
ever, estimates that the actual job- 
. less rate in Watts, including those 
ho longer looking for work nod 
those who have never entered the 
labor force, is closer to 30 percent 
for adnlts and 50 percent for teen- 


rate in Watts climbed to 19.7 per- 
cent of the work force in 1980 from 
11.8 percent in 1960. The dty- 
county repent, a study by each gov- 
ernment's human relations com- 
mission of conditions 20 years after 


New problems have added 16 
those that faced residents twenty, 
years ago. law-enforcement offi- 
cials in Los A ti pples said they have 
seen the rite mtbe past two years of 
. a vicious form of the cocaine trade. 
Adult prison gangs deploy rival 
youth g an g s as street troops to sen 
drugs and murder rivals, the au- 
thorities said. 

The teen-agers are increasingly 
armed and some shootings attrib- 
uted to the g an g? have killed inno- 
cent bystanSers^ officials said. Ste- 
phen Valdivia of the atyjcounty 
g an g services project, said that 
there are now 40,000 gang mem- 
bers in Los Angeles County, up 
from 28,000 five years ag6, and the 


number continues to grow 10 per- 
cent a year. 

Many schools in the neighbor-, 
hood are overcrowded and run 
year-round sessions. Hundreds of 
classrooms have been staffed with a 
series of temporary teachers each 
semester and many veteran teach- 
ers have refused assignments to 
Watts. 

Jolted by the Wans rebellion and 
other urban violence around the 
United Stales, officials at the local, 
state, and federal level unleashed a 
series of studies, experiments, and 
programs aimed at remedying the 

Qls that afflicted poor urban neigh- 
borhoods. 

But in the view of many inside 
and outside the Watts community, 
those efforts from the beginning 
failed to commit the necessary re- 
sources, planning, or accountabil- 
ity measures. 

“It was a false and empty prom- 
ise," said Dr. Alvin F. Poussaint, 
an associate professor of psychiatry 
at the Harvard Medical School 
who had been affiliated with the 
University of California at Los An- 


geles until shortly before the rioting 
erupted. 

“Programs have to be perma- 
nent; you can’t job-train temporar- 
ily and then leave and expect peo- 
ple to have job training. Dr. 
Poussaint said. “Without capital 
that you’re willing to invest, there s 
nothing you can do in these com- 
munities. The federal government, 
the slates and dries are not wtUing, 
ami now they’re retrenching.” 

The city-county report also ex- 
aminwt the of ficial response to the 
recommendations made by a com- 
mission appointed by Governor 
Edmund G. Brown in the after- 
math of the disturbances. Although 
job training was a key recommen- 
dation of that commission, the 
1985 report found that not one 
comprehensive job training or 
placement program is operating in 
the area today. “Coordination of 
existing programs is described as 
poor ” the 1985 report added. 

“There ain't no middle class 
right now — either you're up or 
you're down.” Duane Randolph, a 


Waits resident, said recently, as he 
talked with friends in front of an 
apartment house on Watt's main 
street. Central Avenue. 

Mr. Randolph said he did not 
remember the rioting, which oc- 
curred when he was 8. He said he 
knows, however, that he is doing no 
better than his parents did then, 
because of what he termed “the 
cost of living going up like crazy." 
He has worked as a warehouse la- 
borer and as a janitor for day-care 
centers, but he said he has not had 
any work for six or seven years. 

*Tve been on hold for a long 
time now,” Mr. Randolph said. 
“FI! be 29 next month, and my 
good thing ain't come around right 


Michael McGuster, 30, has been 
luckier. He earns $7.60 an hour as a 
housekeeping porter at a hospital 
north of downtown Los Angeles. 
He said getting to work requires a 
bus trip of as long as two hours 
each way from Watts. 

The biggest problem in Watts 
today is drugs. Mr. McOusler said 


“Some of these guys, they probably 
say, why should 1 work?" he said 
“If they sell dope instead, they can 
make a lot of money fast. But fast 
money only lasts for so long" 

In 1965. reports of police brutal- 
ity increased tensions. Since then, 
black officers have increased to 10 

percent from 4 penxni of the police 

force, ""4 Hispanic officers to 14 
percent from under 4 percent- Offi- 
cers from both groups have risen 
through the ranks, a fact that is 
pointed out with pride by Mayor 
Tom Bradley, himself black and a 
former police officer. 

But the deeper police-communi- 
ty problems have not been re- 
solved, according to many in tbe 
community. Tbs neighborhood's 
relations with the police “seemed to 
have slipped to an all-tune low," 
according to the city-county report. 

Dr. Poussaint believes that black - 
people in Wans 20 years ago were 
in “a self -haired mode” that, in 
younger black people, has since 
been largely lifted by the blade 
pride movement. 

He said, however, that this 
means that a repetition through tbe 
generations of such factors as wel- 
fare dependency and the phenome- 
non of teen-age pregnancies could 
throw them into “a cultural mode 
that may lock them in further.” 

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jVeii? Court Tackles Domestic Violence 

In Chicago Experiment, Victims learn of Their Rights 


IVatf 


\ SUPPORT FOR THE CHIEF — Presi tot Ronald 
/ Reagan reaches for Ms wife, Nancy,® they board a 
fl marine heUcopter in Washington on the way to aCah- 
fornia vacation. He is convalescing from cancer surgery. 


By Jilian Mincer 

New York Tunes Service 

CHICAGO — Nearly 4,000 
women have sought help in the last 
year and a half at an experimental 

rfrminal court hCTC fOT CaSCS of do- 
mestic violence. 

Other American dries, including 
Philadelphia and Seattle, have es- 
tablished civil courts that deal ex- 
clusively with domestic violence, 
but the court in Chicago is believed 
to be the only one in the United 
States that is part of a c riminal 
court system. 

Proponents say a separate court 
is needed because judges and pros- 
ecutors in the criminal court system 
frequently fail to inform victims of 
Ihwr rights under the state's do- 
mestic violence law and do not pur- 
sue such cases. 

Margaret A. Luft, director of the 
Women Abuse Action Project, a 
coalition of social service agencies 
working to reduce domestic vio- 
lence, said: “We fdt the law was no 

more than a piece of paper because 

it was being ignored by the respon- 
sible entities. Most battered wom- 
en had little or no information 
about how it worked or where they 
could get help.” 


The Illinois domestic violence 
law, enacted three years ago, en- 
ables men, women and children 
who are victims of domestic vio- 
lence to seek an order forbidding 
further violence and temporarily 
barring the offender from the 
home. Violation of the order could 
mean as much as a year in jail 

Ora Schub, a lawyer with the 
Tfgai Assistance Foundation of 
Chicago, said it would have been 
too expensive to monitor domestic 
violence cases in each criminal 
court Instead, a central court was 
established in which judges and 
prosecutors would be better in- 
formed about the law and victims 
would be given legal help. 

Almost all of those who have 
used the court are women. They are 
guided through the process by 
.court employees trained to assist 
victims of domestic violence. These 
advocates refer them to social ser- 
vice agencies and explain legal op- 
tions. Prosecutors are assigned u 
the victims decide to press charges 
or seek legal protection. 

Local judges, lawyers and vic- 
tims have praised the new system. 


They said more victims were 
seeking protective orders and 
pressing charges, and they contend 
that domestic violence is increas- 
ingly being treated as a crime rath- 
er than as a private matter. The 
planners intend to expand the ex- 
periment ritywide this fall and 
make it permanent in a few years. 

Connie Valkan, who supervises 
the employees who help victims in 
the new court, said, “1 think the 
women’s lives are changed as soon 
as they walk into our office, be- 
cause it may be the first time that 
someone listens to them and tells 
them they have rights.” 


FRED 

PRESENT THEIR 
NEW JEWELRY COLLECTION 
AT HOTEL DE PARIS, MONTE-CARLO 
FROM WEDNESDAY, AUGUST 14 
UNTIL SATURDAY, AUGUST 17, 1985 


EFiP 


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, 6. RUE ROY ALE - 75008 PAMS - 0) 260.30.65 

LOEWS HOTEL - MONTE CARLO - (93) 30.79.00 



Bails 1970 Pact, Warns Bona 


MOSCOW — The Soviet. Union 
mixed praise with criticism in mes- 
sages to Both Monday marking the 
15 th anniversary of a treaty that 
laid the basis for West Gemauy^s 
unproved relations with Eastern 

E *Messages from the Soviet leadcx- 
shJ rocSanceUOT H^mut KriM 
and President Richard .von Wem- 
sScker. recalling the signing m 1970 
of a tionaggresHon treaty, said that 
Se Sw^tuon favored the un- 

PJ 1 ^mSsages matte it dew, 1 to*’ 
ever, that the Kremlin wouldron- 
dime to oppose any moves toward 
reunificationof the Gem^s* 
Soviet press commentators at 
tacked Mr. Kohl’s govemmmt for 

Support of WashingKW 
Sx nassdtes in Weston Soape and 


between Bonn and Moscow. The 
Soviet Communist Party newspa- 
per Pravda said Monday that pre- 
sent Bonn policies showed traces of 
the “activity of these who did not 
learn the lessons of the war.” 

Another newspaper, Selskava 
Zhim, or Rural life, said thaircla- 
rions had deteriorated since Chan- 
ceflor Kohl's Christian Democrats 
had come to power, and it accused 
him of “borrowing the American 
approach" toward Eas^ Europe. 

A telegram from Mikhail S. Gor- 
bachev, the Soviet leader, to Willy 
Brandt, the West German Social 
Democratic Party leader, who was 

chancellor at the time of the treaty, 
praised his “personal contribution 
to the accord and said Moscow was 

l j.L. Martini ctnK tfl 


achieved against strong odds if the 
ri ght political anil was presenL 

“Enormous gulfs had to be over- 
come — of alienation, mistrust and 

prejudices,” Pravda said. “It was 
necessary to demonstrate not only 
good will but also political courage, 
r ealism and farsightedness. 

Both the Soviet messa ges an d 
nonunf nfi| ries, however, st ressed 
that acceptance of the present fron- 
tiers in Europe was the basis of the 

treaty, and as was important as the 
agreement not to use force or threat 
of force to bring about change. 

Pravda noted that the border be- 
tween East Germany and West 
Germany was included in those 
that Bonn recognized and accepted 
as inviolable. 


Of Tainted Wines 

Reuters ' 

BONN — The West German 
Health Ministry announced Mon- 
day that it had more than doubled 
the list of wines found contaminat- 
ed with the antifreeze chemical 
diethytene-glycol to 830, nearly all 
of them Austrian. 

A spokesman said the ministry 
was issuing a 63-page list including 
803 doctored Austrian and 27 West 
German wines. The list may be 
requested by dealers and consum- 
ers, he said. 1 

Diethylene-glycol can d amage 
the brain and kidneys and is poten- 
tially fataL In Austria, 39 persons 
have been arrested in connection 
with the sca n da l . 


et 


i 







mu 


on reissues m ~Z1>I „i arie 

SissiSSS 

icized Bonn’s rgection rf P^P 0 ® 115 
for a mutual nuclear tesijban. 

The 40th anniversary of the am 
of WoiWWar n has caused strains 


i published the 


nKSsageson — — 

cation at the importance the Soviet 
government puts on relations with 


W S t ^teS r flie 1970 treaty was 
an example lor futine accords, m 
that it showed what could be 


Vassalo e SHva, 86, Die 

r^ral Defied Lisbon 


„ _ Kenneth Erast, 67, an artist and 

510 nf Portuguese In- Oregon. 

Max Krook, 72, a retired profes- 

SalvSo e Sfiva drfted 

J2^pS®l , spri® enml,S ' SophvSS at Harvard 

PW®- AMert. 63. die songwrit- 


— — 

^ democracy be 1-nnamtiiBirwT 






f0f n* dtsodated Pres 

ring. RANCHO MIRAGE, Calif or- 

ek safes; ,• ^ — Frank Capra, 88, a movie 

gssssg StsMMS 

ni«iSSd in8 ' inM {^Ual spokesman saui. 


.^BAOMPTCM ROAD 


Summer Exhibition Of 
Rare Jewels Of THe World 

(Ml 

Unmetahabjjr 

KmCHTssntDCE • London SWi Telephone. 
And WORlHWiDE AiwwIMENI 


a ,f% 


i* 1 »»«S 7 ! TfclEXJIM* 




TUESDAY, AUGUST 13, 1985 


Britain’s Left Looks Ahead 


'pie British Labor Party, together with the 
unions, has a rnipimn-d its economic phtt- 
fonn even though the general election is 
thought to be some two years off. This is not 
loo soon, given Prime Minister Margaret 
Thatcher’s propensity to follow her tri- 
umphs in the Sooth Atlantic and the coal 
pits with an accumulation of minor errors. 

The platform is miles from the promises 
the miners fought for so bitterly — the 
defense of existingjobs, however inefficient- 
ly performed, by milking the taxpayer. For 
rite left it is a middle-of-the-road message. It 
displays the traditional faith in economic 
p lanning espousng a periodic national as- 
sessment in which government, organized 
labor and employers (but perhaps not the 
unorganized consumers) would a^gne things 
through to consensus. The problem is that 
attempts to reach rational and acceptable 
decisions through such a process have had 
little success since ancient Greece — whose 
economy was underpinned not . by die con- 
sumer but by a slave class. 

The manifesto is insular. It prescribes new 
import curbs, plus exchange control and tax 
discrimination to c api tal out- 

flows. Il ignores the certainty of trade retor- 
tion by other countries and the beneficial 
effects of the profits and interest that capital 
export can earn from abroad. Britain's left 
hasstiBnot thrown off the my £^?ia that set in 
when the ori ginal charms of international 
socialism faded some 70 years ago. 

The manifesto is onnfiistng on privatiza- 
tion, fudging the scope of Labor’s intentions 
for renationalization of the industries that 
Mrs. Thatcher is busy selling off. Since this 
particular cyde is about the worst thing that 
can happen to the major sectors in question. 


the Labor platform win not help confidence’ 
—a scarce resource in Britain today. 

Understandably, the platform’s primary 
target is to reduce unetrotoymenC which 
stands at around 3J adman, or some 12 
percent of the work farce. The plan is to step 
op public investment and repairs — answ- 
ers and schools, roads and hospitals. Britain 
needs this to arrest its present dilapidation, 
and Labor argues that this sort of job cre- 
ation has the edge over tax reduction be- 
cause it socks in fewer imports. But to plan 
to create a million jobs in two years — twice 
the recent rate is probably unduly risky, 
given the tendency for inflation to accelerate 
as economic growth picks op. Like most 
countries, Britain has not yet solved the 
problem of combining high growth and em- 
ptoymeut with acceptable price stability. 

It is in an attempt to square this cirde that 
the manifesto comes bade to the concept of 
consensus: Government, u nions ami busi- 
ness agree, at top level, how the national 
cake should be shared between wage and 
profit increases, and their wise decisions are 
faithfully translated into individual balsams 
strode on the shop floor. Hus is historically 
unconvincing in Britain, where cooperation 
between Labor governments and the unions 
has been checkered at best. The past two 
decades are littered with solemn and binding 
agreements that bound no one for tong. 

Electorates most be wary when politicians 
make promises: They might tty to deliver on 
them. The best service the Labor manifesto 
ran do is to tempt the rising Liberal- Social 
Democratic alliance out of its present vague- 
ness and force the divided Conservatives to 
produce something constracfiTC. 
INTERNATIONAL HERALD TRIBUNE 



IsF 


By Robert K. MeCabe. 


\ MANILA ~Thc settin g a p ate- 
IVlfuQy fanriHar. Have d ttsa- 
dous, wealthy So othe d Asm ofe- 
trarchy, supported by an army tittt ij 


it is assigned to protect and find h 
not quite coping wiih a blossoming 
Cnnfflfflingt msutgenCT. 

The economy, based lai^dDfl^ 
mafw-iflig. is floundering. The priBfr 
cal- opposrww is fragmented and 
teada&Tbe NationlAsse^Ti 
ineffectual. And the US. m 


presence is sigmiKSSL . •. 

This is Manila in summer 19G& 


It is also Saigon in summer I9& 
During that summer 22 wan 
Westerners is Saig» — mpJoMfca, 
journalists and busmessdaea — we* 
trying to decide whether the South 


America’s Enduring Success Is a Successful Japan 


T OKYO — When Japan surren- 
dered, Douglas MacArthur un- 


Self-Rule Isn’t Optional 


It is good news that President Reagan’s 
national security adviser, Robert C. McFar- 
lane, has been patting new pressure on the 
South African government to move away from 
its ah nmmah le racial policies. Later this week 
we will see what the results of that pressure are. 
Meanwhile, there is one minor refrain on tins 
subject that needs a little attention. 

As the predictable violence in South Africa 
has grown, one has begun to hear people 
saying that the bloodshed and turmoil m fact 
tend to justify the repression by the South 
African government — that they demonstrate 
that South Africa's racial majority is not fit 
to participate in sdf-governmenL 

Black Africa — not just that part under 
Pretoria’s control but all of it — has long been 
subject to a special standard in tins connec- 
tion. We suppose a case could be made that 
Hitler’s Germany and Stalin’s Russia indicate 
that Mutes are not ready far self-rule. But no 
me extrapolates that way where whites are 
concerned; the sweeping conclusion is saved 
for the African case. Oddly, when you read 
about tribal warfare among other tares — in* - 


Lebanon, say, or in Indnrfrimi — the idea of 
the tribe is seen as something different So is 
savagery on the part of large numbers of peo- 
ple who turn an each other and on those in 
authority. In Sooth Africa this is viewed as 
primitive; in Ulster it is viewed as tragic. 

The South African government has long 

of its^own rote M^dufiatian^^r role. It 
strips vast numbers of blacks ctf their freedom, 
of their capacity to earn a living, of an oppor- 
tunity to team and of a chance even to live with 
their own mutes and parents and childr en, it 
says to the world, “Look, they don’t know how 
to govern themselves, they axe unschooled, 
they do not live the same way we do. What are 
you asking us to doT It cites the violence 
generated in large part by its own protracted 
repression as evidence that the blacks under its 
role axe not responsible people. 

The terrible internal vidence in South Afri- 
ca is not evidence that the while governments 
apartheid policies are right. It is evidence that 
they are wrong and must be changed. 

—TBE WASHINGTON POST. 


L dered, Douglas MacArthur un- 
dertook not just to occupy but to 
remake the country. If the general 
had been asked what his most extra- 
vagant hope was, I think he might 
have said: to channel the drive cf this 
aggressive people away from milita- 
rism and into economic ambition. 

That hope has been realized to an 
extraordinary degree. It is one of the 
great achievements of any foreign 
policy in modem times. But now toe 
country that had the vision and har- 
ried it out, America, is in a state of 
alarm about the successful outcome. 

Alarm may be too tame a word, 
judging by a recent dramatic expres- 
sion of American feelings about Jap- 
anese economic success. That was a 


By Anthony Lewis 


fill, or we shah strike back — that was vent long-term business plannii 
the tone of the piece. It charged the example, while Japan e se firms 
Japanese with winning economically up loyalty and plan years ahea 
by deceit and nationalistic tricks. It Hobart Rowen of The Waste 


s ahead. 
Washington 


process of analysis b going on, and 
aiin2arqnetkmsareberegadced.No 
one is coming up with dear answer. 

But if cue thing is certain in &$ 
very uncertain capital, it h (hat Vw- 

- nam-scale U.S. military intervention - 

is about as tikefy as stow. 

_ 1 T This despite the vi ew qf s enior 

ssful Japan 

New People's Arnpr continues to 
ironic, ft forced Japan to renounce larerfv cm- 


suggested that the United States Post, writing about the White article, 
should have been less kind, less en- noted thatlne United Stales last year 


lighte re d . Presumably, it should have had a $ 20 - billion trade deficit with 


kept Japan in subservient status. 

Yes. the Japanese are rough eco- 
nomic competitors. And yes, they 
haw used some unfair tactics in pro- 
tecting their home market. 

But can anyone doubt the main 
reason for their success? They have 
made brilliantly designed, reliable, 
economical products. That is why 
Americans bought Japanese cars. 

The visitor here quickly feds the 


Canada — but no one called that a 
threat. “Could it be,” be asked, 
because Canada is white “while Ja- 


mflitarism, but it has become a pro- 
foundly militarized society itself. 

The United Stales faced a threat 
from the Soviet Union. But instead erf 
dealing with it rationally, it has again 
and again CTMgg prgiflrf tfaft threat, see- 
pi g “missil e gaps" when none existed. 
Now the compulsion to build more 
and more weapons is fed by the lab- 


oratories, the manufacturers, the pol- 
iridans. the local citizens who rear 


r an is yellow?” It could. „ . . 

Would Americans like the result cf “Tt is no longer a question 

the irind of crude protectionist mea- trotting a m mtaiy-mdustri 
sores against Japan that are now the plex,” Jerome Wesner, a s 
talk ofUS. politicians? Economic adviser to presidents, wroti 
frustration might start to undo Gen- cuncat BuDctin of the Atom 
eral MacArthuris great achievement, tisls. It is a question, “rather. 

The militarist spirit still lurks here ing the United States from b 
and some think it is growing. Even in a totally mtihaiy culture." 
Hiroshima, sound tracks prowl the By all means press Japan 
streets with righ t-wing militaris t mes- pete fairly. But begin by und 
mw«i — -a r ^mindw tha alternative mg that the United States 


piece by Theodore H. White in The commitment to work, the atrisfarripn 
New York Times Magazine. Headed of the most modest shop assistant in 


“The Danger From Japan,'’ it rang 
with resentment and threat, ex- 
pressed in almost military terms. 

"The power was all ram.” Mr. 
White wrote. “There was no question 
bat that we had won this war." But 
now Americans are challenged at 
home by Japanese products. 

Those Japanese had better be care- 


af the most modest shop assistant in 
doing the job right. Even in an alien 
language and culture, Tokyo's inter- 


nal airport is easier to 
than* Kennedy Airport in New York, 
wi tbits confusion and squalor. 

Those fearful of Japanese competi- 
tion should think about correcting 
thar own mistakes. Americans waste 
hflhons in corporate raids that pre- 

f 


rocians, the local citizens who rear 
there is no other source of jobs. 

“It is no 10000* a question of con- 
trolling a wwmar y-mdnstrial com- 
plex,” Jerome Wtesner, a scientific 
adviser to presidents, wrote in the 

current Bulletin of trie Atomic Scien- 
tists. It is a question, “ratira, of keep- 
ing the United: States from becoming 
a totally mflitary culture.” 

By att m»an« press Japan to com- 
pete fairly. But begin by tmderstand- 
mjs that the Urined States cannot 


Samar and Negros, to Luzon asea. . 

This development is serious 
enough- “But this nriliiaiy activity”, a 
senior Western diplomat said, Ts. 
only die tip of the ic eberg, Whit’s 
mare im port an t is the growth of the 
NPA infrastructure.” 

The growth has been at least as 
dynamic as the spread of ariE tiny 
cteriies. And even in some sen 
where fi ghting is rare, the NPA is 
known to be constructing its system 
of parallel government. 

Questions about the ca pabil i t ie s of 
the government at fYenfaz Feufi- 
nand Marcos bring cautious answers. 
“There Is a growing awareness of 


Keep the Oil Noose Loose 


The Recipe 
For aNew 
Depression 


to the economic tnmicte that has re- 
boot that flattened city. Would the 
countries of Southeast Asia be happi- 
er with an economically frustrated 
Japan? Would China be? 

One reason why America lags be- 
hind Japan economically is deeply 


compete effectively Mole it wastes 
bflliaus on “star wan” and needless 
weapons, mortgaging its economic 
future with immense deficits. 

The fault, dear Brums, is not in our 
stars but in ourselves. 

The New York Timer. 


r ■ 

, yi Nation of Confidence, for a While 


one senior Western diplomat. “lame 
past year there's been a very serious 
change in the posture of the govern- 
ment toward the insurgency. Though 
there’s still far too much power m 
the executive branch, there’s been 
some diffusion lately.” 

The problem of anny reform nags 

at nmhfir wwOTmwnett A o i/ ii ifi c a n t 

reason for the growth of NPA influ- 
ence has been the army command's 
inability to pretest some amts from 
ove r reac tin g to NPA provocations. 
Fer rite peasait^aiytl in the cross 


Times are tough in the oil business. A barrel 
that brought nearly $40 five years ago now 
seDs for less than $28. 03 rigs tit idle in Texas 
graveyards. Scores of smaller coriqraues hover 
on the brink But what is bad for ofl is not 
necessarily bad for America. Indeed, to think 
back just five or six years is to realize that f ra- 
the country as a whole, the energy news is 
wonderful Then, American necks were caught 
in an oil noose that foreign producers could 
tighten at any time — and did. Remember the 
gas limes that followed rite revolution in Iran. 

In 1977, President Carter insisted that 
America would never again import as much ofl 
as it was imparting then: about 8.8 nntticn. 
bands a day, almost half of total consunqj- 
tion. In part because of ail price decontrol 
launched then, he was and is right. By 1983, 
imports were down to a daily average of 5 
million bands a day. Fear die first six mouths 


of das year the average is still lower, 4.8 
nriffion barrels a day. Still a noose; but loose. 

Holding down demand for energy is not 
necessarily good news. Nothing restrains de- 
mand like recestion. But the explanation in 
America now is conservation. Energy con- 
sumption is about the same as in 1973: 743 
quadrillion BTU*s then, 73.7 “quads” in 1984. 
Yet the economy has boomed. In constant 
dollars, GNP has increased 31 percent Ameri- 
ca has become vastly more enogy-effidenL 

Good could be better. It would be an ideal 
time to impose oil import fees or a new f ederal 
gasoline tax — simultaneously enhancing 
mare conservation, farther weakening the 
OPEC cartd and yielding new revenues with 
which to reduce the federal deSdL Import fees 
would also shore up domestic prices, helping 
those faltering ofl companies in the Southwest 
— THE NEW YORK TIMES. 


Other Opinion 

Botha Has an Appointment — 


South Africa has an appointment with desti- 
ny cm Thursday when President P.W. Botha is 
expected to announce an unprecedented pack- 
age of reforms of the apartheid system. Ap- 
pointments, however, are not always kept On 
the evidence of his record, Mr. Botha is un- 
questionably committed to reform to an extent 


unmatched by any of Us predecessors. His 
message has consistently been. Adapt or die. 
[BnlJ apa rt hei d , like slavery, is such a distor- 
tion of nature that hHnirars are an *«gnri«l 
item of equipment for those operating it The 
recent disorder, and the increased pressure 
from outside which has followed, have shifted 
the Ninkas bat have not tom than away. 

— The Guardian (London). 


FROM OUR AUGUST 13 PAGES, 75 AND 50 YEARS AGO 


1910: Strikers Militant in Spain 
SAN SEBASTIAN, Spain — Two hundred 
strikers at the Bilbao mines attempted to stop 
work at a Northern Railway station [an Ang. 
121 but were dispersed by the Civil Guards. 
The strikers arc excited because the employers 
announce they wfll recommence work in the 
mines with strike breakers. This decision will 
not be put into practice until Tuesday [Aug. 
16] since the GoWnment has decided that it 
will protect every man who is willing t o work 
on that day if no critical clash occurs before 
then. Tranquility prevails throughout the rest 


causing a disturbance in the streets last week 
was Senor Qrae. presidenl of the Bilbao Junta, 
who at first gave another name to the police. 


1935: Ffeasnniam at Edriognaa Talks 

PARIS - — Despite reports on their arrival here 
that Anthony Eden, British Minister for 
League of Nations Affairs, and Sir Robert 
Banattart, Permanent Under Secretary far 
Foreign Affairs, have brought concrete pro- 
posals for a settlement, the conversations pre- 
liminary to the Three-Power Confaence on 
the Abyssinian controversy are opening today 
[Aug, 13] in an atmosphere of pessimism. 
Hopes generated fay the Ethiopian Emperor’s 
Rf»ff«wru! and the oaucfliotoiy at titude tak- 
en fay the Italian organ “Affan Esteri” were 
dimmed yesterday by reports from Roms dial 
the Emperor’s proffers were coo si dered ridicu- 
lous, and that the “Affari Esteri” reports did 
not originate from the Italian Foreign Office. 


By Jack Kemp 

The writer is a ReptdAiaxn 
representative from New York. 

W ASHINGTON — Representa- 
tives Dan Rostenkowsla and 
Richard Gephardt and Senator 
Lloyd Bentsen say that their proposal 
for a 23-percent import surcharge is a 
shot across the bow of America’s 
trading partners. Like every shot 
across someone’s bow, this one would 
miss its target But it would score a 
direct hit on American businesses, 
workers and families. The Rosten- 
kowslri-Gephardt- Bcntsen bill is no 
different in principle from the 
Smoot-Hawley tariff, which helped 
precipitate the Great Depression. 

Even some of the circumstances . 
are uncomfortably similar: a growing 
debt burden in tbe developing na- 
tions; a progressive dectim in Ameri- 
can agriculture because of the rise of 
the dollar against other currencies in 
teal terms; failure to establish a sta- 
ble international monetary system. 

In 1929-30, instead of correcting 
those problems. Congress enacted 
and President Hoover signed the 
Smoot-Hawley tariff, which in- 
creased duties aotoss the board. It 
was the last straw fra: world trade. 
The debtor nations could not repay 
their debts if they could not export to 
the United States. They sought to 
ease the pressure by devaluing their 
currencies and imposing rctafiaioiy 
tariffs. The dollar rose even further. 
Tbe world economy imploded. 

The Democratic sponsors of the 
new protectionist taB seem to want to 


' ■ i\TASHlNGTO>r— The bomb 
* W that burst over Hiroshima 
and opened the atomic age was not 
the .only explosion triggered fay 
World War ft that was to make a 
profound inmact on our lives. The 
other was the enormous postwar 
surge of energy unleashed in Amer- 
ica, as in the rest cf the world. 

The United States underwent 
revolutionary change, as it had af- 
ter the Gvfl War 80 years earlier. In 
both cases revolution came from 
marriage of pent-up energies and 
technologies with public policy. 

There were enormous differ- 
ences. Worid War II was a unifying 
experience, and the national morale 
ana ssise of power were never 
greater. The Ciwl War was destrao- 
tive^and divisive, and even in the 
victorious North many were not 
sure that they had not lost more 
than they had woo. Nevertheless, 
the two waiS bad rimilar impacts. 

After the CSvfl War the western 
half Of the American continent was 
settled, and the nation was industri- 
alized and urbanized in relatively 
short order. Government policy in 
the farm of subsidies to the rail- 
roads, encouragement of settlers 
through the homestead and land 
grant acts plus a benign attitude 
toward late 19th century industrial 
statesmen and robber barons alike 
was & major factor in this. 

Ptzbtic policy played a amflar 
role after Worid War IL For start- 
ers, it augmented the awesome en- 
ergies of the nearly 13 million veter- 


By Janies R. Dickenson 


ans obsessed with the desire to 
make up what they saw as lost time. 

The GI Bill of Rights trans- 
formed America from a nation of 
renters to rate of home owners. 
More important, however, were the 
educational benefits — the $75 per 
mouth plus tuition, books and lab 
fees that encouraged more than 8 
million of those Wodd War II vet- 
erans to continue their ed ucati o n . 

Intended partly to keep the re- 
turning GIs from flooding the job 
market, the GI Bill opened up col- 
lege, which before Ae war had been 
the province of the well-to-do few, 
to nearly everyone. Thu demol- 
ished tbe one vestige of adass soar 
ety in America. It is impossible to 
imagine anything that enlarged and 
strengthened the middle daw more 
than the expansion of opportunities 
for ed u cati o n and home ownership. 

Young men and women who four 

years before bad not dreamed of 
going to college trooped off to Har- 
vard, Oklahoma A&M, UCLA and 
Kenyon to become electrical engi- 
neers. doctors, sales managers and 
schoolteachers. Many farm. boys 
got degrees in agriculture; the ever 
increasing productivity of that m- 
dustiy was one result. Never was an 
investment of $145 billion, the cost 
of the Wodd War U GI BUh so 
handsomely returned. 

That revolution in education was 
a major factor in a great surge of 


afrfudfae, and ac&jurim' 
the production at gqod&jmt ser: : 
vices. Sales, advermmg'iha mar: 


: the re jyft n mowmttqis that have 
up 'in.- thr^Mmy in recent 
r monifrsL These aofctqetfs, aimed at 
tenOrmg the anny^ i&tegrity.&re still 
in their early stop*. But the Marcos 
gov ernm en t , androne^n ob se r v e rs as 
well, take them seriously. They are 
now, says cue Wcstamtfcs a “recog- 
nized force" on the Fhffippme setae. 

Economic reforms are at an equal- 
ly early stage: “Broadly speaking," a 
senior dipk^t says, “tbe macroeco- 
nomic picture is getting better, infla- 
tion has been txmsnea and foremi 
debts rescheduled. Bui there is stiB 
anxiety at high government levefe.” 

Overall, the broad public sense erf 
frustration — and anger —with the 
Marcos government paste. One se- 
rious area of contention is the presi- 
dent’s fatten; to squarely address re- 
cent charges that be, his family mid 
cronies have fllegally invested mil- 
lions of dollais overseas. _ 

The president’s mysterious illness, 
which m recent years has caused him 
to retire from tire public scene in late 
summer far months at a lime, raises 
deep concern about the leadership. 

Perhaps, as some observers hope, 
the national ennui will begin to dissi- 
pate as the national elections of 1986 
draw nearer. But for now, the ques- 
tions persist In Saigon, by 1963, 
most observers had discarded the dd 
slogan qf “Sink or swim with Ngo 
Dtnh Diem.” In Manila these days, 
“Save your carcass with Ferdinand 
Marcos” draws even less 


vale enterprise system, benefited 
from GIs who started out to be 
historians or English literature 
teachers but tmaedtheir e du cation 
to more mundane pursuits. 

Postwar affluence and techno- 
logy, particularly die automobile 
and television, reshaped society, 
which was and is organized around 
the automobile. This led to greater 
mobility and personal freedom as 
millions escaped the daily scrutiny 
of family, church, small towns ana 
ethnic neighborhoods. 

There is a down side to this, of 
course — loss of community and 
intimacy, weakening of family ties. 
Affluence and isolation brought 
problems of their own. Still, no one 
would even dream of turning the 
dock bade on the nation’s past- 
Worid War II accomplishments. 

Looking back pewits up the drar 
maric contrast between World War 
II and the Vietnam War. With Viet- 
nam, the accounting has been pri- 
marily of pain, division, loss and 
regret But victory in the great, two- 
front effort of Wodd War D was an 
enormous feat that united Ameri- 
cans and focused energies. 

Most Americans were confident 


they could not do. Twenty-five 
years were to pass before that assur- 
ance was significantly tarnished. 
The Washington Post 


The writer, a dtputy editor . 
International Herald Tribune an 
is a specialist in Asian affairs. 


StatesJThat would not hdp Ameri- 
ca’s trade balance at aQ. 


To tfae degree that any American 


tiomsna abroad, the rise of the dollar 
in the 1980s hat led to calls for pro- 
tection in the United States. The in- 


t£S 


repeat tbe same mistake. 
The main prersrision is a 


businesses could gain, it could only stability of exchange rates has cost 
be at the expense of other American many jobs in both the United States 


ENTE3UYATIOIVAL HERALD TRIBUNE 

JOHN HAY WHITNEY, Chairman 1958-1*32 


The main prersrision is a 25-percent 
tariff on any country whose exports 
to America are 50-percent higher 
than imports from it and whose 
worid exports exceed wodd imports 
by 65 percent. (Why the difference? 

There is almost a S [00-biIIion statisti- 
cal discrepancy between total wodd 
exports and world imports, even 
though the two are obviously identi- 
cal; yet these statistics are supposed 
to decidn whether or not we trigger an 
sgkM tt^aml e war!) It turns out that 

It is easy to see who this bill would 
not beta: American farmers. Japan, 
South Korea and Taiwan all make a 


KATHARINE GRAHAM. WILLIAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Chairmen 


PHILIP M.F0ISIE 
WALTER WELLS 
SAMUEL ABT 
ROBERT K. McCABE 
CARLGEWIRTZ 


LEE W. HUEBNER, PiAbher 
Executive Editor RENE BONDY 


Deputy Edittr 
Assaaaie Editor 


ALAIN LECQUR 
RICHA RDH. MORGAN 
STEPHAN W. CONAWAY 


_ FRANCOIS DESMABONS Dlmur _ 

RQLFITkRANEPUHL DimcfAdmmigSaia 
International Herald Tribune, 181 Avenue Charies-dc-Ganlk, 92200 NcttfflyOTSetne, 

Franot Tel; (1)747-1265. Tdex; 612718 (Hsald). Cables Herald Paris. ISSN: 0294-80S2. ^ 

Dlreaeur de la pobUcaaoni Writer N. Thayer. gJj S B K . 

Asia Headquarters, 24-34 Hennessy R d, Hoag Kong. TeL 5-285618. Telex 61170. 

Manaring 5r. U.fL Rabin Macftdm, 63 Long Acre, London WCL TeL 836^XlTda [oSl 

Gen. Mjp. W. Garvey: W. bnaebach. rriedridtor. 15. 6000 Ftonkfun/M. 71 (069)726755 Tbe 416721. 


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Under ri Qpmrima 


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S.A. au capital de UOQ.OOO F. RCS Nmtem B 73202 1! 26. Canumaea Paritrin No. 6133 7. 
US. subscription: 5322 yearly. Second-class postage peril at Long Island Gn. N. Y. 11101. 


<3 1985. International Hendd Tribune All rights reserved. 


food und « p nrtin g manufactured 
goods. Japaniim: example, is Ameri- 
ca's single biggest agricultural cus- 
tomer. And to the degree that Ameri- 
can farmers compete with Brazilian 
farmers, it is mostly abroad, not in 
U.S. markets. The 25-perceat tariff 
would raise the prices paid by Ameri- 
can fanners for eqmpinwt, although 
the worid prices they received would 
be no higher. And UiL fairness 
would be the first victims of any 
retaliation by other countries. 

Would the bill at least reduce 
America’s competitive disadvantage 
in manufacturing? No. Since the tar- 
iff is selective, the main result would 
be to shift Japanese goods to Europe 
and European goods to the United 


be at the expense of other American 
businesses — and, of comae, Ameri- 
can households. Both would be hit 
with price markups from foreign and 
domestic suppliers. American goods 

would cost more at home and abroad. 
Productivity and the standard of Kv- 
ing wouldfaH and jobs would be lost 
Any reduction in imports would be 
more than matched by a loss of ex- 
ports. -And how can Brazil repay its 
debts if it cannot apqrt? How can 
Japan invest its savings in the United 
States if it cannot transfer the re- 
sources to America through trade? 

In robing a problem, it helps to 
know what tiieprobleni is. Part of the 
US. trade deficit is not a .problem. 
Countries that grow faster than the 
test dH ihe worid, as America has 
done, generally import capital seek- 
ing a higher return, in the form of a 
trade deficit- This part cf tin trade 
deficit will automatically disappear if. 
other countries pursue growth-ori- 
ented jxfficies; if not, Ameirica.does 
not neefftoslow down its economy to 
reduceihe gap, as Tong as the goods 
are useftto increase economic capaci- 
ty. -TcMJmted Stales ran a trade 
deficHtpr its first 100 years. 

But part of tbe trade deficit is a 
problem. As in the 1920s, American 
farmers, manufacturers and mineral 
producers — industries that aport or 
aamp^vrith imports — have been 
priced eonrf world markets by tbe 
dollar’s, rist Jiul as the fall of ihe 
doiiariftrae. W70> provoked protec- 

* •I - * 


and the Thud World. 

The obvious answer to & monetary 
policy that permits a rising dollar or a 
tailing dollar is one that presents a 
stable dollar. We need a domestic 
monetary policy geared to the value 
rather than the quantity of gurney. 
And we need to return to an inter- 
national system of stable exchange 
rates that is neither inflationary 
nor deflationary. (The Rjostenkow- 
^kf-Gephartfr-BenzseQ tell does have 
a section calling for movement to- 
ward stable exchange rates.) 

At the same time, we need a Rea- 
round of talks on trade Hberahza- 
teoB, patterned an the successful 
Kennedy round af the 1960s. Tins 
was the goal of the statesmen who 
designed the postwar Bretton Woods 
monetary system: to (Usman tie the 


LETTERS TO THE EDITOR 

InYe8tOieilt by Filipinos And Ayala has invested 


nuY Filipinos And Ayala has invested some 70 
„ , • ntilttOTp^mlaiKifOTihedevdra^ 

“ A MonUa Financier mentra a new residential subdivision 
(Aug. I) bp Steve Loftn in northern Metro Manila 

much rara the suus 


i& < &stezs , £t 

x£5lSSS.SSBC 

to put it now. non to what we believe should be a 


I feel compelled to mak e dear the national effort to spar our economy. 
P^^.^^Corpaati^Our ZTr 


mvestment decisions are based on the 
proposition, that in a time of ernak we 
must do our part, because if we all 
adopt a wait-and-see attitude, noth- 
ing wfll ever happen. What the Phil- 
ippines needs is new investment to 
hasten economic recovery, and Filipi- 
nos themselves should take the lead. 

_ Tims, despite the depressed sitna- 


JAIME ZOBEL de AYALA, 
Chairman and President. 
Ayala Corporation, Manila. 


if <f(M 


No Round Lumbers 


Regarding "Square-Trunk Trees 
Found in Oana n (Scievx. Aug SN 
As a mathematician, 1 was per- 



PrifiticaDy the Democrats might do pansioa for Integrated Mfcradeo- 
well to consider the kind of tack we tromes, Iucl, an Ayala subsidiary. 

tha< food prodncaoa is a 


trank. Wh 
whether it 


are now thmlting of adopting. Tbe 
Smoot-Hawley tariff was the prehide 
not only to national economic bat 
also to Republican political disaster. 
As EJEL Sdiattsd m Bdar remarked 
about the soon-tobe-minority Hoo- 
ver Republicans in his classic study 
of the Smoot-Hawley tariff: To 
manage pressure is io govern; to let 
pressures rah wild is to abdicate.” 
The Washington Post. 


vital area in economic recovery. Pare 
Foods Corporation, Ayala’s food 
manufacturing sabsidiaiy, is in the 
final stages of an expansion and di- 
versification program enlmEng in- 
vestment of about 80 milli on pesos. 
We have invhed institutional inves- 
tors from abroad to participate in the 
equity of the new venture, and it 
looks as if we may be able to launch 
this before the close of the vear ' 


was I not uribnnedasto 
as a square root?. .. . 
PETER McCABE. 

Peril. 


Letters intended for pub&ctttke 
sMd be addnnaed-Utten to d* 
Editor" and must carman the wrb- 
er*s signature, name and jiA ad- 
dress. Utters should be brief md 
are subject to editing Weeamt. 
he responsible fa rfe return 4f 
unsolicited tnanuMrqjtt • 


A 









INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 


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INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 


Growing Ability of U.S. 
To Detect Nuclear Tests 
Tipped Off by Officials 


Japan’s Prosperity in Defeat Leaves Some Fearing It Won’t Last 

.. Hav win mm*, when Jamn wifl aaain face poverty Japanese annually. Bm only a jpadSdoffo* 


(CoBtimed from Page 1) 

]] P.M.? How sane and stable can children be when 
life for than is an unrelenting battle for entrance to a 
good school? 


Singapore, whx± are &}i^eageriy to catdi up. So far, the day wfll comewbea 
Japan is Tnaiw m g . Tins year, far example, as South and misery. I can't say 
Korea exported itsfirst video cassette records*, Japan happy times cannot last 
b rough t to the market the warid’s first systems, E a rthquakes , typhooi 


By Walter Pincus 

Washington Post Service 


meat of Energy, bat the Smltzand 
McFarinne statements aimed the 


the day wfll cane when Japan will again face poverty Japai 
and misery. I can’t say why, bat this prosperity and boob 
happy times cannot last forever.” 
parrx^trgVFc typhoons and volcanos have for cea- angle 

mries fostered a belief in Japan that hmnaueideavois muse 

are boilt on sand. Today's prosperity, howeier. has an — a 


Japanese annually. Bm only a handful of Japanese 
fr oo frg are published abroad.. Ytdao MbhLsu^cx- 

cep ted, most educated Americans cannot aatf c a 


" \t h- c ,T tmuAu raimmi nf .hr nid the next generation in home video. mnes fostered a belief in japan mat nmnancoiHamii* 

Japan'smmence as one of the world's oldest are built on sand. Today's prosperity, however, has an 
^Jh^aJe tSav popalarionTSp^ another economic challenge, added vulnerability. Virtually all the d& andrsoprees 

totkOTJ^an m and tamnmig come from some- 

i^aSffS 9 ®’ 000 ^™” a rocket Bis a tanker 

jfflaRssrs?5 , sa:s 


WASHINGTON — The United S®™* Unioa to the Ui system's 
States is operating a IinlwmNi- abfiity to detect the tow-levd tests, 
dzed woridwde imctegr monitor- The backbone of the U5, deteo- 


n*eu wonawiae nuclear monitor- _ • “~“e ■ — — — r - l 

mg system that is (teamed to do- toi system consists of seismic fa- ideas the Japanese have adopted is staoresu. which 
tea il Soviet undamund test effities in 35 countries, manned by memis str^]^ ^ ™y wm of c^ wth ^ 
exnlosions. accnrdins m testimnnv the air face’s Technical Applies- sutoresu. mriuflmg golf, pinball parlors and drinking. B 010 
before Conaress and former eo^- dons Center at Patrick Air Force The Ministry of Health and Welfare estimated recent- aews 

«IU UflUier gOV- |„ that 7 7 million Tmhiwc^wuiU fmm nmfK. 


explosions, according to testimony **» air «nces i«o 
before Congress and former gov- nons Center at Pat 
eminent scientists. Base in Florida. 

In June, the United States added Some devices were put in place 

a sophisticated seismic array in years ago to study earthquakes, 
Norway as part of a program to an£ t they have been supplemented 
upgrade the system. Washington is nrare recently with modem umis. 
negotiating with another Nordic . Two other systems for monitar- 


— a star on the 


awns Itiritaudor 
Tfftoii arena,' for 


support every Japanese over 65; by the year 2000, where else. ' , 

there will be four. Ten years after that, there will be Every time a rocket lots a tanker can 
only three. Productivity will have to rise rapidly just to Gulf, Japan is renmufed how easily the 


mmme fc. . , , 

Internationalize, the Japanese are tod rewnfcafr 
Prime Minister Nakasone to tried to set a paxxaL 


government for a similar facility, ing underground tests are also in 
according to sources. use. One ums over-the-horizon ra- 

Tbe new Manic arrays, wh ich dar to monitor disturbances in the 
measure high-frequent dgnaU upper atmosphere caused by shock 
wm be able to pic* up extremely w * ves from nuclear explosions, 
low-yield nuclear explosions at Tlie otho 1 uses nnow bo ne ar- 


low-yield nuclear explosions at Ilie ““f nnax»tone ar- 
muca longer distances titan h ? c rays to monitor very-low-frequency 
been possible with a lower-frequeo- waves generated l into the roper at- 
cy system, operated in coOTeration morobere by nudear explosions, 
with Norway since 1970 officials say modernized 

If the Soviet Union tries to hide nwniioring arrays are useful both 
tests by exploding a nuclear device in determmng Soviet compliance 

! — ■ ■ - _ if _ mth tk. KnAThnwKnU Pan 


sutoresu, mrmdmg golf, pinball parlors and dnmemg. 
The Ministry of Health and Welfare estimated recent- 
ly that 2-2 nnllkm Japanese would benefit from profes- 
sional treatment for alcoholism. 

Prime Minister Yasuhiro Nakasone upset same 
people earlier this year by suggesting that people take 
all their allotted vacation time. Leisure is seen increas- 
ingly as the key to solving both Japan’s spiritual woes 
and its tensions with foreign governments, which fed 
that more play will mean fewer exports and more 


pariore and drinking, goieration lacks the mettle for the task ahead, the 
are estimated recent- newspapers are full of evidence that shocks the Jape- 


shutoff. Every tinK the jra slips organs a pomt on anlta 
the world’s foreign rx change markets, corporations garee. 
and banks around tire country fed the effects. The 

Despite this dependence, Japan, more than any status 


Looking to the future, Japan is in fine shape, from 
an accountant’s point of view. In the eariy 1990s, it 
will be sitting on a mountain of twynrnnlatpH trade 
surplus dollars, $400 billion by sane estimates. Ja- 
pan’s emerging role as banker to the world wiD be 
confirroed- 

Mosi economists here predict that Japan's large 
factories mil continue to modernize rapidly, putting 


1 am happy now, bat I am convinced the day will come when 
Japan will again face poverty and misery. This prosperity and 
happy times cannot last forever. 9 

rrJ Maynxm Sano 

Tokyo high school student 


nese: bullies in school, joy-riding on motorbikes, girls otha industrialized natiem, feds SI at ease with 
who do not know how to tie the belt of a kimono. foreign. Japanese shoppers spam imported , 


The arg ui ng that Japan's iodnsftM 

status to given it new resKWriWito ahre^. is, 
stowiy expanding the coimtnrs rele beyccd fmm an 
exporter. Military and foreign aid are the only ***> 
categories of the national budget that arc caos&tGOtfy 
growing these days. 

Japan now devotes about $43 bflfion a year to 

foreign assistance. Under constant pressure from fee 
United States to contribute more to regional defease., 
it is c ot K lpeting a military b t nM ap that has ext e n d ed 
deep into thePadfic. 

StiD, memories of thewarandabdief that caution 
has served it wdl in the past 40 years ccnomteto 


“Japanese children have a low sense of public scant- 

A LJ. -.J. 1 t J -i " .a 


other industrialized nation, feds 21 at ease with things r ^ n 

foreiga. Japanese shoppas spam imported goo£ yoriff* h °° nn ™ 

Young people who have been educated overseas have follower of the United Stales. 


*UU 1U<C WCU WUMUAl U'UJWU ua-w — . 

Catwa im ttnklff fri thf. nrtS^tbe United States createSafter 


inside a large cavern, a scientist ^th the_1974 Threshold Tret Ban 
said, it is lmTilcd y to be successful Treaty, hunting underground tests 


edne» and seldom help with household chores, ao- troobLefmding good jobs because companies fear they 
ccndingtoarqxmbyi^EcCKUjmtePlariningAgency. might have the wrong a tt itu de s. Some end up going to theworidadre^ 


cred under 
after 1945, 


lactones wilt continue to modernize rapidly, putting But expats who 
robots and computers an the assembly one. Industry often conclude that. 


tests even ander 1( 


Treaty, limiting underground tests 
to 1 50 irilotons or less, and in gath- 
ering intelligence on Soviet nuclear 


Small underground nuclear ex- w ^ oas 
plosions are used by the United The new high -frequency array m 

States and the Soviet Union to test Norway “should have a teg impact 
the triggers for hydrogen <« curahflity” to monitor aflSovi- 

bombs, as wrifas small-scale ver- <* testa, “even fully decoupled 
sums of the weapons. They are used ones,” said Jack F. Evemden, a 
Jess frequently to test thcreiiabQity specialist oo seismic measurement 
of weapons already in die s to ck- ^ riie U.S. Geological Survey. He 
pOe. said a second high-frequency array 

The ability to monitor these would greatly increase that ability, 
small tests permits U.S. intelligence The system lin Norway recewre 

to keep track of all Soviet nuclear data from a Soviet explosion and 
activities, as well as to gather data tra nsmi ts it_ to a U,S. satellite, 
for verificati on for any future arms J v h* c ^ 1 relays It to an analysis center 


increasingly raise the value of the raw materials u 
Deports from abroad and resells as finished products. 

At the same time; fewer Japanese will wndc on 
assembly lines, according to Josen Takahasi of the 
Mitsubishi Research Institute. The fast growing fields 
will be the “soft" tides of the factory process, such as 
design, and computer control of production. These 
will allow lactones to shift away from standardized 
products toward ones that are customized on the 
assembly line to each customer’s tastes. 

Japan will have to keep one step ahead of fast- 
developing countries like South Korea, Taiwan and 


the question serioas study 
ice young people’s demands 


weak and last year toward supporting Indochinese refugees in fight inconclusively with proapcuyity madam 


fat more time off, the old ethic of hard work and last year 


refugees 


loyalty is essentially intact Teen-agers may dye their camps in Southeast Asia. But hi 10 years it has 
harruue but they st£D bow to tbeir parents. accepted only 4,300 of them for permanent resettle- 

ies, they be- mmt here Crowding is died, but 


“When they are recruited by c 
come very faithful, loyal members and work as hard as seems to fear that the cultur 
the older generation,” said Bunroku Yotinoo, chair- threa t en e d. 
man of the Institute for International Economic At the same time, Japan re 

Studies. the rest of the wold. Mov 

StELL many Japanese, like Maymiri Sano, 17, a government cultural centers 
Tokyo high school student, remain, apprehensive Americans and their way of 
about the future. ' Hand, is known mainly by la 


manent resettle- 
government also 


E roWems. Japanese fear tiietr friends and pmtcOaa 
ave lost thor way. .. ,, 

“We’re travding the same road, said Mr. Yos fano 


raiuca, UICY UP- 11 BUI Udb vumuutt u umi, UUL IU. buiuuumu .. _ .• „ ■ 

work as hand as seems to fear that the cultural homogeneity wodd be of the Institute for Intmumonal Ecxmann c ^u<aa> 


threatened. dwmisang suggestions ma t Jap an u 

At tHesflmp.rifne 1 Twpati rtwains fl faCdeSS naiinn to OOt On itS OWIL “What WC UBSS IS S 


ed to strike 
States tint 


the rest of tbe world. Movies, magazines and US. has a comprehensive philosophy and gives w 
government cultural cotters eve foreigners a fed for guidance.” 


NEXT: Svrmors remem b er the war that tr ans formed 


agreements. 

U.S. intelligence a g enr- j e s last 


in the United States. 

A similar system of five modem 


week were described by a Pentagon seismic monitors exists in the Unit- 
source as “apoplectic” ed States and Canada, providing 

both Secretaiy at State George P to US. center with instant data 
Shultz and Robert C McFariane, flfxa several parts of tbe world, 
the national security affairs advis- At the White House, o ffi cia l s 
er, revealed that “the Soviet Union said the United Stales has no plans 
has conducted three tests within a to resume negotiations on an un- 
matter of days” before proposing dergroond test ban treaty, despite 
its five-month test moratorium. to declaration by the Soviet lead- 
None of those Soviet tests had cr.MflduiaS. Gorbachev, of a mar- 
been annou nce d by the Depart- stonnm on tests until Jan. 1. 

■- When Mr. Gorbachev proposed 

the five-month test moratorium 

Honduran in larad for Talks Sc^,^ bite 

^*“ aera Adminis tration officials said 

TEL AVIV — Foreiga Minister they wanted to be able to rantnme 
Edgando Paz Bimica of Honduras testing to devdop new warheads 
arrived Monday in Israel for talks for the Midgetman, a »nall inter- 
about expanding tics and establish- continental missile, and posable 
ing a permanent diplomatic leg a- systems for the Strategic Defense 
tion. Tne countries maintain diplo- Initiative, the space shield against 


Honduran in toad for Tafts 

JtoftB 

TEL AVIV — Foreign Minister 


made relations. 


diplo- Initiative, 
missiles. 


Bee Feces Theory 
OfYettowRcrin 
Is Reasserted 

Sew York Tima Service 
WASHINGTON — Five sci- 
entists have asserted again that 
what is called yellow rain is ac- 
tually “(be feces of honeybees.” 
They say it not a residue of 
Soviet weapons using my co tox- 
ins, as the U.S. government has 
described iL 

Tbe group, organized by 
Matthew S. Meselson, a bio- 
chemist at Harvard University, 
made its report in the Septem- 
ber issue of Scieotific Ameri- 
can, released Sunday. 

The theory that yellow rain 
poisons are produced in nature 
by fungi that grow on the feces 
of bees was put forth by Mr. 
Meselson two years ago. 


Pentagon’s Long Campaign for Toxic Arms Opens New Batde 


(Continued from Page 1) . 

moil in Europe, the House-Senate 
conference (hopped the require- 
ment. But the bill would require the 
president to consult with allies and 
prepare a detailed deployment 
plan. The conferees also approved 
a nonbinding statement that the 
new weapons would replace exist- 
ing stockpiles. 

Pentagon officials now insist 
they have no plans to put the weap- 
ons in Europe. 

The new weapons are considered 
saf er to Handle than the old ones 
because they contain separate can- 
isters erf mmletha] chemicals that 
mix to form a deadly vapor only 
when fired. The old weapons al- 
ready ran min the nerve agents m 
their deadly forms. 

Amoretta M. Hoeber, the senior 
chemical weapons official of the 
US. Army, said that, as a result. 


the new weapons could be stored 
safely in the United States or on 
ships and flown to the front when a 
crisis began. 

“I honestly don't think it makes 
very much difference" if the weap- 
ons are not put in Europe, Mrs. 
Hoeber said in an interview. 

The Chemical Warfare Review 
Commission »1 m endorsed that 
view in its report. 

However, Jobn G. Kester, a for- 
mer Pentagon official who wrote 
the ooinausston’s report, said: “It 
would be better to have some weap- 
ons forward-deployed.” He sug- 
gested it would be possible to store 
the heavy shells loaded with just 
one of toe two ingredients in Eu- 
rope, bringing the ousting compo- 
nent of the binary nerve gas in at 
tbe last minute. 

Critics of this plan have contend- 
ed that having to whisk the weap- 


ons overseas in a time of crisis 
would take up scarce cargo space 
and possibly would raise die level 
of tenqftns 

Rep. John Edward Porter, Re- 
publican of minois, who opposed 
the new ehemical weapons pro- 
gram, said, “If I was a Soviet nrih- 
taiy planner and saw the U.S. rush- 
ing tons of chemical ordnance to 
the front, f would assume Fm 
about to be attacked with chemi- 
cals and would use mine first." 

Testing has been .‘wyithw uncer- 
tainty in dm new nerve gas weap- 
ons program. 

After an open-air test in 1968 
was faulted for falling a flock of 
sheep near Dugway Proving 
Ground, Utah, Congress banned 
outdoor teorng unless die Penta- 
gon certified that it was necessary 
to national security and the secre- 


tary of health and human services 
concurred that it was safe. 

All tests of tbe proposed new 
weapons, a 155mm artillery shell 
and tbe Bigeye bomb, have been 
conducted using chemical a wn - 
tents, with the actnal chemical re- 
actions confined to laboratories. 

Matthew 8L Meselson, a profes- 
sor erf biochemistry at Harvard 
University who opposes the new 
weapons, said: “It would be totally 
unprecedented to issue our troops 
untested weapons. Tbe rimnlants 
they have used are just not like the 
nerve agent. It’s unsafe not to test." 

The Chemical Warfare Review 
Cranmisnnn has raised another 
question about the new dbenrictl 
weapons. 

“The shell and the bomb both 
are tbe products of 1960s technci- 
ogy." the eo m m ii «oB stid, “and 
military weaponry and assump- 


tions have altered in the mean- 
time.” 

The commissi on said tbe mots 
urgent military need was a cheati- 
cal weapon that could reach behind 
enemy fines to hit airfields, com- 
mand centos and supply depots. It 
said the planned Bigeye bomb “fe 
not the optimal solution" because 
it would expose pilott and vah»Me 
aircraft to anti-aircraft fire. 

The alternatives, such as chemi- 
cal ballistic or cruise missiles, 
“have been neglected by U.S. mffi- 
taiy ptannerarihe report said. 


CoanJerfeflmgCaseinUJL 

The Asroctnted Press 
RUGBY, England —Three Brit- 
ons were arraigned Monday in an 
alh^edpiot to print and arcutete 
$Z5 rnSnoD in connterias U.S. dtA- 
texs. 


INTERNATIONAL POSITIONS 


KUWAIT 

University of Kuwait Health Science Centre Faculty of Medicine 

Medical Science and Ciinica! Appointment 


Applications are invited for the following appointments in the Faculty of Medicine: 

A mi loa i iy Experience reseanJi and abiTrty to teach are highly required 

. . . . , . „ , , _ , , Carxfidotes must have been involved in undenroduate and 

a ^ SSB *V f/ Ass ^ x ^ i Pmfessor t ™ Gross Anatomy^ -1 pto post^aduate teodxng and btstectocfiikdreseacklCnowi' 

CancSdate should haw teachmg m^enence m Topo^^ edge of computer, eppfied to meefidne if dblWbk 


a Assistant/ Associate Professor in Gross Anatomy - T post 
Gundkbte s should have teaching experience in Topographic 
Anatomy. Current and active research experience may be art 
areas of Neuroanatomy, Histology, Growth and development 
or Grass Anatomy. 


a Associate Professor -1 post 

b. Assistant ftofessor -1 post 

Candidates should have experience in teaching and/or re- 
search h dWcxd psychiatry, preference wi be given to 
suitable candidates who speak Ardaic. 


Meddne 

a. Associate/ M Professor in Dermatology 

Paecflatrics 


-1 post 


a Associate Professor -2 posts 

in Paedfatric endocrinology Afergy or gastroenterology 


a Associate/ FuB Professor -2 posts 

Preference wS be given to general systemic physiologists wifh 
balanced experience in leading and res e arc h . 


a. Associate/ Full Professor h Toxicology - 1 post 

b. Associate Professor in CTmical Phcxmocology -1 past 
The app li can t for the post of Toxicology should have experi- 
once in teaching and taxicoJogkxd services, such as fherapeufi- 
cd drug monitoring and tadoofojpcai screening. 


a Pro fe ssor ENT -I post 

b. Associate Pro fesso r ENT -1 post 

c. Associate Professor in Anaesthesia -1 post 

d. Associate Professor in Orthopaedfc Swgery ~ I past 

Candidates for surgical paste should hove cd least 5 years 
dinied and leaching experience. They shodd dso possess a 
PhD. or higher professional medoa! qu al ificatio n s (ag. 
FJLGS.) in their respective fields. 


a Professor -1 post 

b. Associate Professor -2 posts 

c. Ass&crrf Professor ~ 1 post 

Experience in one or more of the following areas is needed; 
BtxfyCT, Orthopoe dc Radiology, P aedkriric Raddogy, Gl 
and GU Ra c fiology, and US bi terve n tion ol Racfiology. 


Nuclear Medicine 

a. Fufi Professor 

b. Assistant Professor 


-1 post 
-2 pasts 


a Assistant/ Associate Professor 

to TraispbrMion Surgery -2 posts 

Applicants should have a background of general, vasaJar or 
urojped surgery, possess foe Fellowship of foe Royd College 
or be certified by a recognised Board of Sugary or their 
equivalent They diodd have 2 to 3 yeare of trdnfag in cany 
area of driod organ transplantation, 
fior foe Associate Professor (mother addffionaf 3 to 4 yeas of 
practice in dtoioal tro rep ka i ta Son surgery are requaedL 
b. Assistant Professor n Experimental Surgery. - 1 post 

App&ante should have a background in surgery or kranuno- 
broiogy,passes5asu^gicdfidfowsh^oraPhJ>.orequrvdent 
and hare 2 to 3 years of experience to surgical r e s e arch 
preferdWy in an area related to Organ Trons p tontation. 
c Assistan t/ Associate Professor fa Gtoicnl Bone Marrow Trans- 
plantation -1 post 

Appfcants should hare a background in haematology, oned- 
ogy or immuiotogy, wflh Postpoduate Fellowship, Member- 
ship of Cerlforing Board fa foe spetiatHy and hare 2 to 3 years 
of training fa Ofaical Bene Moirow Tr an s p l anta tion. 

For foe position of Associate P rofe ss or 3 to 4 years of 
experience fa dinied Bone Morrow Tranqdantofion wS be 
preferred. 

d. Assistant/ Associate Professor fa Transplant 

In tensive Gere. -1 post 

AppBoants should hare a background fa Anaesfoesia, Respira- 
tory Core or Me tat ofisn, possess foe a ppropriate Fdfowship, 
Membershfo or opprop^tie Board Certification or equivalent 
and hare 3 to 4 years of experience fa foe field. 


cp/afifiaotion eg. M.R.C ftilh or America n Bored or 
equivalent de^ee. 

CSnical Wrologist; 

a Professor / Assodate ftofe sso r -1 post 

1- WB be respadble for vird serology unit which mofaly 
involves hepatitis and rubefla serology. He wS be 
tgsporefo te for cell arfture laboratory, virus isolations 
and prepenrffon of viral antigens and antiserum. Both 
jabs include teaching, r ese arc h and dfakd work. 

2. dinied Virology experience. MD, PhD. MRC Perth or 
equivalent fatemafan d y known for work fa c£nkd 
virology. 

Vrolq^st; 

a Associate fVofessor/ Assistant Professor - 1 past 

Job de sa falioru 

Basic virology research, or moteoulor virology. Teaching 
imdargroefcjotes red postgraduates. Research in basic virolo- 
gy. PhD with sand research e x perience. 

Community Mecfidne and Behavioural 


c. Associate Professor 

L ft ■■■ L,,| te-f- 

Ol ASStSKSa tTOKSSOT 

Pd l i ology 

HistopaMogy/Cytohgy 

a. Full Profes s or 

b. Assodate Professor 

c. Assisted Professor 
Cfinicd Chemistry; 
a Full Professor 
Haematology; 

a Associate Professor 


-2 posts 
-1 post 


- 1 post 
-1 post 
-T past 

-1 past *. 

rf ■ 

-T post *■ 


Cfidod I mmunolo gi st; 

a. Associate Professor -1 post fJ. 

1 . Canctidote should be experienced in Cfinicd Imm u nology 
with a minimum of 3 years exp e rience fa the routine 
operation of a routine cSricd immunology Wxxrotory. t~. 
ZGancSdate should have a PhD./MD end Profcssi o nd 


a Associate Professor fa Medkd Psychology - 1 post 

Appficarfo shoiid be able to demonstr a te teaching ond 
re se arch competence. Prefere nc e wffl be gyve to w 

who hare e xperience fa teachin g introductory and medx d 
psychology causes to medkd and ailed hedfo students, and 
who are interested fa conlnbutfag to the development of 
pottguiduq te progrrenmes. 

K Assodote/Fufl Pnofessor fa Epidem i ology -1 past 

Assistant/ Assodate Professor in Epidetdology -1 pod 

Applicant should be able to demonstrate teochfa g and re- 
- search comp o te n o e fa foe <ypTicatioii of epidemioiogxd 
methods to either efotogkd or hedfo services d ev elop ment 
problems. The successful oanefidate is expected to take active 
part fa reKfergroduate and pod graduate teochfag, using field 
demonstration ond small groip teaching tedriqueL He would 
be encouraged to foflow his own few of research fa addtion to 
assstfag foe Department, Faculty ond Ministry staff fa foe 
design and conduct of quanfeotire stufes. 

requirements for appointment 

Applicant shoM possess a PhD. or higher professional quatifi- 
oation, Le. FJtCS^ MJLCP. etc fa fodr respective speaaBty and 
hare conducted end pubfished research in foek fielcL Professors 
shouU hare 14 years' experience, 4 as an assodate professor or 

to equivalent, Le. senior Jedurer or reader. Assodate frofessors 
shodd hare 9 years’ ex perienc e, 4 as an ass slunl professor or to 
equivalent, Le. iedurer. 

CONDITIONS OF APPOINTMENT 

SdarisE Total monthly salaries will be within the fbllawirg scales 
accredfag to quafifiarfons and e x perience (1KD =* SZ5, 
USS3L2 approx.). 

Professors with efetied cppoinfaient s *» KD1210KDI37D 
(8 i ncrement s ). 


tVofessorsrneJixdbrqua flfe dwifornedfadsdenoeappofalmen b 
= KD1 140KD1300 18 facrements). 

Professors norvmecficdly qualified — KD1070-KD1230 
(8 facrements). 

Associate IVofessors wflh dfaical appointments * KD P89- 
KD1 149 (8 increments). ■ 

Assodate Professors medcafly <pjo£fied refo medkat science 
qppofaftnente ~ KD 932KD1092 (8 facrements). 

Assodate Professors nonmeefaafly quaffied “ KD 875- 
KD1035 (8 increments). 

Assistant Professors with dfaical appoin tm e n t s =« KD 768- 
I® 928 [8 facremertsX 

Assistant Professors medfeafly qualified with mectioai s cien c e 
c ypoirrtr n e n t s = KD 7244CD 884 (8 increments). 

Assistant ftofessorsnon-mecficaflyqua&fied — KD 680KD 640 

(8 increment s ). 

Cfinkd SupplemenlR fa ackfitim to foe above ureversdy salaries 

!t*r> 'T? ^ r 7 ort J^y sttppfement paid by foe Mfeisiry of 

Hearth for 1 0 months a year fo medfed school staff wSh 
dneal service c omm i tmer to . 

Theseare; Professor and Chafanan KD250 
Pro fes so r KD200 

Assodate Professor KDT5D 

Aswtanl P rofe ss or KD100 

Crefoerenee: A menfoer is entitled to attend one w atk"i ir 
conference o year which wodd be sufcifect to foe University rules 
reid regulations. 

GraMy: There is a gratify of one month basic salary for each 
yec r emp loy ed p aycfofe on te ftn i n eifio ti of controc i 

5uUJe furnished, re-confibned aooammadatian. 
^*idty and water free of charge. 

S 1 **? F ?*' crenarehensire treatment is avafiable fa. 

Kuwait under foe State Health Service. 

Travel - Ar tickets are provided from foe county of recnAnert 

^fo»app«n»^spcxisecxdupto3dependerrfdTacifienunder 

A) years. TnerBafter, return or tickets ore issued omutdy to foe " 

™rtract, at fioceta are pravxied 1o foe country of recruitment. A 

baggage and fres^rt afowance is also provided 

V^dfen - 60 days peed annual leave and various national 

Hjrafcn- Thb fra in State Srfo* wh« th, ! 

" Arctic. Staff who hare to send thw dftkento/ 

romcenum of 3 chadren met by the University.. ■ 

"Tjl ™ inro ™ n Ku«a. Omnqr * ' 

aotstmuUe wrfhouf nesfeictioa 

WlHOP OF APPLICATION ' 

P**?*”' quofificcitioris wifo data, oafe» :<§ 
2^3. Safat, Kuwcrt, to arme no later fo m 3QfoOd*^g 


Jti ~ ' 








WK/XW’ 

»■> 




.'K: :■ £ , 

fc*. %X/^fc - 




'VjK*Cv 


AkfT 1 


7. %n* 


N*.**' • ! "I 


WestLB. Bank of an industrious country. 








jrrv.r * 




Parhes Prolife rating 
^ Tolerant Atmosphere 
^ Post-Junta Brazil 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 


Page 7 


*ys= ; :< CtSg -ya r-yr 


:y 


s* 4 

■» 

? ■ 


®y Alan Riding 

stepped down in March. 25 
“^Partjes have been legalized and 
more are waiting in the wings. 

erate blhPr 11 ? to op- 

erate m the final stages of the 21 - 

Je only ones with wiclSy recra- 
SS? ^oak, yet even UwqT^re 
SJ“® ^ aiphabet soupS dk- 
sidrats form their own movements. 

-JJiS reaJt has k® 31 confusion, 
“used not only by the multiplica- 

but also by dwTsimi- 
£E fw names. & panics 
?«cnbe themselves as “democrat- 
ic; five refer to “workers," and 
three use the word “liberal." There 
“ a PRT and a PTR, a Brazilian 
v-onmiumst Party and a Commu- 
nist Party of BraziL 

In November, the strength of old 
and new parties will be tested in 
mayoralty elections in stale capi- 
tals. As the first elections smeeme 
dictatorship ended, they also will 
gauge the country's drinking before 
legislative elections next year, and 
they may even create favorites for 
the Bret direct presidential dec- 
Uons since I960. Those elections 
are expected to be called in 1988. 

“The spontaneous organization 
or new parties reflects a level of 
energy dial is new," said Candido 
Mendes, a political scientist. “But 
is this the best way of channeling 
the population's aspirations?" 

Some experts say they see the 
phenomenon as a natur al reaction 
to the lifting of a wide range of 
political controls, includin g limita- 
tions on the right to form parties 
and strict requirements of party 
loyalty. Pent-up ambitions and 
long-proscribed ideas suddenly are 
being set loose. 

Yet the galaxy of new parties 
also reflects the traditional weak- 
ness of Brazil's political move- 
ments. Even before the 1964 coup, 
they were built around regional in- 


terests or charismatic individuals 
rather than dear ideotogjcal posi- 
tions. They rarely displayed much 
internal democracy, with candi- 
dates selected behind the scenes 
rather than at conventions. 

Therefore, it proved easy for the 
military regime to dismantle the 
existing parties and decree two new 
parties — one pro-government, the 
other in cautious opposition — into 
existence. As the country prepared 
to return to democracy in the early 
1980s, these two parties were 
forced to change their names, while 
three new opposition parties were 
authorized to run candidates. 

By last year, even this structure 
had begun to disintegrate, with an 
important faction from the govern- 
ing Democratic Social Party de- 
fecting to a new patty, the Liberal 
Front This faction in turn backed 
Tan credo Neves, the B razilian 
Democratic Movement’s candidate 
for president, in an electoral college 
vote seven months ago. 

Bm after Mr. Neves died without 

Jc^Jkmey, became president, the 
governing coalition began to fall 
apart as squabbling erupted be- 
tween and within its two parties. 
Communist legislators who bad 
been elected in 1982 undo- the Bra- 
zilian Democratic Movement's 
banner left to form their own bloc. 

“The end of restrictions over 
parties made it more complicated 

to maintain discipline and order," 

said Senator Fernando Henri que 
Cardoso, the government's spokes- 
man in Congress. “Anyone could 
leave and form his own party.” 

Aspasia Alcantara de Camargo, 
a scholar who has written exten- 
sively about B razilian politics, said: 
“Political parties do not enjoy pub- 
lic credibility. And the s tanding of 
Congress is even worse." 

Recently, the image of Congress 
was further bruised when seven 
members were photographed vot- 
ing twice on important bills and 
when they escaped with only a rep- 
rimand. 


Insurgents in Uganda 
Said to Expand Control 


It was raining in Bamenda when Pope John Paul II arrived on Monday and he did not conceal his opinion of the weather. 

Pope Warns Africans on Birth Control 


The Associated Press 

KAMPALA — Guerrillas who 
have resisted en ding a four-year 
insurgency, despite the overthrow 
last mouth of President Milton 
Obote. are now in control of most 
of western Uganda, according to 
reports received here Monday. 

The reports of the rebels' gains 
came a day before peace talks. 

The latest garrisons taken by Na- 
tional Resistance Army guerrillas 
are in the two largest cities in 
southwestern Uganda — Mbarara. 
about 180 miles (288 kilometers) 
from Kampala, and Kabale, 85 
miles further southwest, according 
to frequent reports that could not 
be confirmed. 

Reliable sources in south-central 
Uganda, who asked that their 
names not be used, said other rebel 
units were converging on Naka- 
seke, 30 miles north of Kampala, 
with the apparent intention of es- 
tablishing a major base. 

Both there and in the west, sol- 
diers loyal to the new government 
were reportedly disarmed with lit- 
tle or no resistance. 

Two other western dues with 
military garrisons. Fort Portal and 


Kasese. fell to the rebels before the 
July 27 coup. 

The National Resistance Army, 
led by a former defense minister. 
Yoweri Museveni, is the larger of 
several guerrilla groups that had 
been fighting Mr. Obote's forces. 

Lieutenant General Tito Okello. 
the new head of state and chairman 
of the military council, announced 
Saturday that he and other leaders 
would gp to Tanzania for talks with 
Mr. Museveni on Tuesday. 

The guerrillas have said repeat- 
edly they are wilting to discuss 
power-sharing arrangements. Their 
principal condition — based on a 
refusal to recognize the new gov- 
ernment — was that General 
Okello present himself only js 
army chief, not as head of stale. 

In another development a Ro- 
man Catholic newspaper, Munno, 
reported that at least five persons 
were killed in a weekend of footing. 

Tbe incident occurred Saturday 
night and early Sunday in Jinja. 
Uganda's second- largest city, when 
soldiers fired into the air and then 
set upon people who had gathered 
to welcome Yoweri Kyesimira. a 
former transport minister who had 
been freed from detention. 


Actor Aids in Surgery 
On Salvadoran Rebel 


By Marjorie Miller 

Lea Angeks Times Service 

SAN SALVADOR —Mike Far- 
rell, the actor who for eight years 
played a surgeon in “M*A*S*H," 
the television comedy set during 
the Korean War, found himself in a 
real operating room last week help- 
ing a Los Angeles doctor perform 
surgery on a captured Salvadoran 
guerrilla commander. 

Under heavy police guard, Mr. 
Farrell and a neurosurgeon, Ale- 
jandro Sanchez, worked for two 
and a half hours to restore use of 
the right hand of Nidia Diaz, a 
commander of the Revolutionary 
Party of Central American Work- 
ers. a faction of the Farabundo 
Marti National Liberation Front 

Miss Diaz was captured after be- 
ing shot in the arm, foot, back and 
hand during a guerrilla clash with 
the Salvadoran Air Force in San 
Vicente province in ApriL U.S. hu- 
man rights activists and doctors 
examined her soon after she was 
taken into military custody, and 
when they found that she had lost 
the use of her hand, they began to 
press for tbe operation. 

Miss Diaz first gained interna- 
tional attention when she repre- 
sented her group in peace talks last 
October between the Farabundo 
Marti front and the government of 
President Jose Napoledn Duarte. 
The armed forces announced after 
sbe was captured in April that she 
was carrying important guerrilla 
documents at the time. 

Her guerrilla faction, known by 
its Spanish initials PRTC, claimed 
responsibility in June for the shoot- 


ing deaths of four U.S. marines and 
nine civ ilians at caffes here. 

The operation on Miss Diaz was 
arranged by Medical Aid for H 
Salvador, a Los Angeles-based or- 
ganization that provides medical 
supplies and humanitarian assis- 
tance, usually to civilian casualties 
of the war. 

Sand Brim, executive director of 
Medical Aid. said the group got 
involved in the Diaz case because 
they felt she was being denied 
proper medical treatment. 

Mr. Farrell, 46, who has been 
active in human rights and refugee 
work in Central America for Lhree 
years, said he traveled to San Salva- 
dor as an observer of the operation 
for Amnesty International, the 
London-based human rights orga- 
nization. 

He said he had no medical train- 
ing and had not intended to partici- 
pate in tbe operation, which look 
place Friday at an unidentified pri- 
vate dink here. 

Mr. Farrell said Dr. S&ncfacz told 
him he needed help just before the 
operation, since the case was “too 
much of a hot potato” for local 
sutmcal aides to handle. 

“I know this is going to look like 
a stunt, but that's too bad,” he said. 
“It isn't." 

He said a guard with a surgical 
mask stayed m the operating room 
and that several armed guards 
stood outside. 

Major Carlos Aviles, a spokes- 
man for the aimed forces, said the 
operation was successful Dr. San- 
chez could not be reached for com- 
ment. 


Reuters 

BAMENDA Cameroon — Pope 
John Paul 11 urged Africans on 
Monday to ignore ideas from the 
developed world on limiting the 
size of families by contraception 
and abortion. 

On a visit to Bamenda. in the 
English-speaking western part of 
the country, the pope praised the 
high value Africans traditionally 
placed cm children. 

He said these were threatened by 
“a powerful anti-life mentality” a 
term tbe Roman Catholic Church 
uses for artificial birth control and 
abortion. 

This mentality, the pope said, is 
widespread in developed countries 
and is being passed on to develop- 
ing nations as if it were the prelude 
to development and progress. 

He warned against “the path of 
selfish materialism and consumer- 
ism which have produced so much 
suffering in other parts of the world 
and which you. too, are now begin- 
ning to experience." 

The church, the pope went on, 
recognizes the problems of popula- 
tion pressure faced by African 
countries. He referred to the 
rhythm method of birth control fa- 
vored by the Vatican. 

Africa has the highest birth rate 
of any continent ana many govern- 
ments are working with" Western 
aid to spread the techniques of arti- 
ficial birth control- Tbe church is 
often criticized for its absolute ban 
on contraception, especially in 
light of severe famine in .African 
regions. 

A Lisbon Witness 
Dies oi Wounds 

Reuters 

LISBON — A key witness in the 
terrorism case against Lieutenant 
Colonel Otelo Saraiva de Carvalho, 
a hero of the 1974 revolution, and 
51 others linked to a leftist guerrilla 
group, died Sunday in a hospital of 
bullet wounds, doctors said. 

The witness, Jose Manuel Rosa 
Barracks, 34, was shot in an am- 
bush on July 19, three days before 
the trial was to open. Tbe guoriflas 
claimed responsibility for the 
shooting. 

Mr. Barracks, one of 73 charged 
in what has been called Portugal's 
trial of the century, was among 
several who had agreed to testify 
for the prosecution. 

A legal battle is expected when 
the trial resumes Oct 7. to deter- 
mine whether the court can admit 
testimony he gave during prelimi- 
nary hearings. 


Forty years on. 

, . j -Crated the end commissioned from Frank Wbotton and 

In 1945- the worid cel includes a plate and a box. 

of many longveafioM^ ^ ^ • for father details fill in the coupon 

As a tnbute^o aH 1939 and for a full colour brochure. 

I'rt^CWport is proud to Rba^oKingSu fenwn,Stokc-on-Tr^ 

d !e Forty years of Peace and breedo ^ m 313Q, United Kingdom. | 

collection- f fines of a British | Name I 

The bone thl ™ * Land Girl, . Address 

“ I COALPOKT j 

■omn ie,T!0 , * 0 f an RAr j me**** mkdqmuogkxp n.imj 

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. Post code. 


The pope brushed off such criti- 
cism, quoting from an apostolic ex- 
hortation he wrote on the family 
that stressed the church's belief 
that “human life, even if weak and 
suffering, is always a splendid gift 
of God’s goodness." 

“This does not mean that the 
church fails to recogoize the grave 
problems posed by population 
growth in some parts of the world," 
he said. He urged Catholic leaders 


tospr 
mraj c 


standing of natural contraception. 

The pope, on a tour of seven 
African countries, arrived in Ba- 
menda in a light rain to a rousing 
welcome from about 10.000 Catho- 
lics gathered next to the airport. 

In his address, which he deliv- 
ered in English, the pope reaf- 
firmed teachings on divorce. 

Noting the answer of Jesus 
Christ to divorce, the pope said the 


answer was being given a gain 
“This answer says that marriage is 
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he said. 

Referring to Africa, where po- 
lygamy and trial marriages are 
common, he said Christians should 
“live their marriage and family cov- 
enant as a sacramental manifesta- 
tion of the union of Christ and 
church." 


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Page 8 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 


ARTS /LEISURE 


Heating Up Siberia 
With Jazz’ Warmth 


By Michael Zwerin 

Tnlemanana] Herald Tribune 


musical quality, geographical scale 
and organizational complexity the 
official Philharmonic programs," 
grees Centigrade (minus 40 de- Iv^ smd. Tut CIU is nol rec, 
gnxs Fahrcnlrat) in Novosibirsk. op|^ offic^, u csrmoi taw » 
■ ■ - - t bank account. Who are they? 

“Scientists, intellectuals, doctors. 
Officials do not welcome such pri- 


p AR1S — It wa$ minus 40 do- 


it) i 

Alexander Ivansfcy's hands, as he 
waited 35 minutes for a bus, stuck 
to his face when be rubbed it. But 
after the somber, frozen streets, the 
saxophonist Vladimir Tolkacbev’s 
version of “Satin Doll" in the sold- 
out, 700-seat hall burned off the 
chilL “You really appreciate the 


vate organizations- Its members 
work very hand and receive nothing 
but moral satisfaction." 

The CJU president, Sergd Beli- 
chenko, a medical researcher who 
also plays drums, was interviewed 


warmth ofjazz,"Mid Iwnsky, who W 

emigrated to France in June, by Ivansky in Jazz Forunu “Sibat- 

an jazz has only really existed for 
five years, since clubs appeared in 


“when you have to fight the envi 
ronment to hear iL" 


Calling Novosibirsk “the capital 
of Russian jazz," he compared it 
with 1960s Paris, where American 
avant-garde musicians who could 
not get accepted at home were de- 
veloping their new “free" style. 
Moscow, “over the Urals,” is like 
New York — the marketplace. 

"It may be hard for Westerners 
to comprehend, but it's very sim- 
ple," Ivansky said, shrugging: “In 
the European part of Russia, you 
can buy something to eaL Shop- 
ping in Siberia is like hunting. Ev- 
ery day you must hunt.” 


ivansky was bom in Novosibirsk 
30 years ago. After studying phys 
ics and mathematics, he was 
awarded a fellowship in Akadem- 
gorodok, a nearby scientific center. 
He listened to Bill Evans, tran- 
scribed his solos, practiced them on 
the piano. But he was always an 
amateur musician. Then he became 
a correspondent for Jazz Forum 


ma gaainft, published in Warsaw. 

“f was a communicator," he said. 


in passable English. “1 told the 
iberi; 


world about ST 

access to foreign media because my 
wife, Anne, is French. I borrowed 
films from the French Embassy — 
Michel Petrucdani with Charles 
Lloyd, Memphis Slim, Son Ra, a 
documentary about the Ntmes Fes- 
tival You cannot imagin e the isola- 
tion out there. These films had a 
great impact on the musicians of 
Novosibirsk." 

He ‘calls them “a tight circle.” 
They huddle together under the 
umbrella of “Creative Jazz Unity," 
an organization that has been pre- 
senting festivals, concerts and sym- 
posia for 10 years. “These exceed in 


cities like Kemerovo and Krasno- 
yarsk.” To this, Ivansky adds: 
“Many CJU musicians have built 
solid reputations on the Soviet jazz 
scene. The trombonist Victor Bu- 
darin won the Soviet critics’ poll 
from 1978 to 1983; Igor Uvarov 
seems to be the only competent 
vibist in the Soviet Union. And in 
the past two or three years, interest- 
i^groirps have begun to appear in 

The critic Efim Barban was an 
“ideological leader" who spread 
the word about Siberian jazz in a 
private newsletter before emigrat- 
ing to London. He made 30 copies, 
tbe legal limit for such an unofficial 
journal. They circulated hand to 
hand. Gunther Schuller, touring 
the country leading his New En- 
gland Conservatory Ragtime En- 
semble, told Barban: “I was more 
impressed bty the quality of the jazz 
1 heard in Novosibirsk than any- 
where else.” Ivansky quoted 
Schuller with pride, while admit- 
ting that other cities — Leningrad, 
Tallinn. Vilnius — have produced 
better known “names." such as the 
Vyacheslav Ganelin trio. 

Belichenko used the AACM, the 
cooperative that gave birth to the 
Art Ensemble of Chicago, as a 
model of an organization run by 
and for musicians. The CJU spon- 
sored a “Symposium of Contempo- 
rary Music" m 1977, bringing jazz 
musicians together with represen- 
tatives of contemporary classical 
music. “These were people tired of 
playing the same old standards in 
their forms," Ivansky said. “All five 
concerts were sold out. Many crit- 
ics were invited to Novosibirsk and 
they wrote positive reports.” 



U. S. Consumers Baffled by Oversupply of Choice 

esistzujssi aisssSSfi =SSfSSS 

rirt Jfrcwg category of Nmelwa i«M [- -J *g . the decision for the* a 


fiv Lisa Belkin the highest in its 49-year history. “We have aisles of shampoo, sity Medical Cento-. 

Hew York Times Semes “There me more wodiwMs than ever shelves of nanrila bars. 23 varieties video-cassette recortfcr VOSBS 

N EW YORK —* There are before in ntlusu^ j » > •—» - — - — - — . _ net it — — 

nearlv 300 long-distance tete- and many are more complicated cat isn’t even the one who drades, cnce variety of high-imertst-bearias *> 

y ■ § turned .tan ewtafo^aH David te- WMRld%£M*b» m ^.’SSSSlSSti chants are available and id- 


phone companies m 


States today, and 23 flavors of Nine 
Lives cat food. Revlon makes 137 
shades of lipstick (41 of them pink) 
and the Tower Video store offers 
5,000 video cassettes for sale or 
rent The Love drugstore chain car- 
ries 41 varieties of hair mousse. 
Across tbe United States, consum- 
ers and consumer advocates are be- 
ginning to wonder if there is such a 
thing as too much choice. 

It is a question that many never 
thought they would be asking. As 
director of consumer services for 


liner, a spokesman for the maga- 
zine. He said readership had in- 
creased in part because “people 
feel overwhelmed." 

Much of the expansion of op- 
tioos can be traced to tbe deregula- 
tion of mqjor industries in tbe last 
five to ten years. “As a result of 

« tion, the theme of the *80s 
e," said Barbara Berger 
Opotowsky, president of tbe Better 
Business Bureau of Metropolitan 
New York. "Never before have 
consumers bad as many choices in 


ter that way. Now i 


About ayear ago I vowed never to voana. 

- foot in adepartment store v«tisc<LraQre tianSzabfflsoQre- 


iSsiSE.: 



sssffssrac 

Hay in the marketplace is an at- purs rfj^ WOT Si^Stoiion rf Antria. 


marketplace 

tempt to cater to, other than 
confuse, the consumer. Of the 157 
shades of lipstick, Nancy Risdon, a 
spokesman for Revlon, said: 
“Then: is someone who wants each 
of them, or they wouldn’t be there. 
We don’t make products to sit cm 
the shelf." 

The company is stressing its 


tntoLiui ut vnninvur- ■ ** **** iui — — — - - — — j m — _ , *> ! ■ « ■ 

the New York state Public Service areas Eke financial services, travel plethora of cokus in magazine ads. 
r' and telephone service.” “Sweet confusion," reads the head- 


Alexander Ivansky 


There is a Siberian Jazz Festival 
about every two years (“We are 
never sure it will happen until the 
last minute'’), with a concert or so a 
month in between. Otherwise the 
musicians “work s~t jobs in restau- 
rants where they makegood money 
but degenerate because they have 
to play superficial pop songs and 
they drink very much every nigh t." 

Things are more or less "the same 
everywhere in the Soviet Union: 
“Jazz is tolerated but not encour- 
aged. Nobody is sent to prison for 
it, but to play this music involves 
sacrifice.’ There are about 12 
groups authorized by Goscoucert. 
the official state booking agency, to 


play jazz. “They can make a living 
at it, but not the others. For a CJU 


not tbe others. Fora 
concert, musicians get paid only if 
there's a positive balance." 

Belichenko told Ivansky in Jazz 
Forum: “I dream some day of 
forming a Siberian Jazz Associa- 
tion. Then maybe an Asian one." 
Here Ivansky inserted a parentheti- 
cal “(laughs)” °> the interview. 

Ivansky appears to have had 
much of the capacity for laughter 
wrung out of him. He and his wife 
read a copy of “1984" in Novosi- 
birsk and agreed that reality was 
worse than the book, “life is terri- 
ble in Siberia," be said. “You must 
live with a lot of contradictions. As 
with Negroes in the States, great 
energy is combined with enormous 
frustration. But contradiction can 
be good for an art farm” 


Commi ssio n. Lisa Rosenbluzn has 
spent a career promoting consumer 
choice. But for the past two years 
she has fielded calls from custom- 
ers baffled by AT&T's breakup. 
“We may have readied a point," 
she said, “where there are so many 
choices and so much information 
that people simply can't decide." 

“As a society we have became 
attached to variety, to many, many 
versions of the same thing," said 
Bernard Phillips, a professor of so- 
dology at Boston University. “But 
wfaai good is it really? When it 
comes down toit, you can only take 
one purchase home.” 

All over, there are signs of bewfl- 
dennent- Neatly 48 percent of the 
40,000 members of the Airline Pas- 
sengers Association in Dallas listed 
“confusion" as the primary result 
of aixline deregulation, and 63 per- 
cent of respondents to a survey by 
American Express said there were 
so many products on the market 
that it was difficult to choose be- 
tween them. 

At Tower Video, the tempo of 
the background music and aze of 
the floor staff have been increased 
to keep customers moving. “People 
were spending all night deciding,” 
said Joe Medwick, store manager. 
“Even now we've only cut the aver- 
age time to 13 minutes." : 

As choices and confusion in- 
crease, sources of information to 
answer consumer questions seem to 
be increasing as welL The Better 
Business Bureau of Metropolitan 
New York received tens of thou- 
sands or requests for its report ~on 
long-distance phone companies. 

At Consumer Reports magazine 
circulation has reached 3.4 million. 


The 


of AT&T created 
seven regional telephone compa- 
nies in ste ad of one national and 
paved the way for about two dozen 
long-distance uhone companies in 
the Nc 


“Sweet confusion, 
line beneath a picture of a 
tube: “41 shades of pink, 29 
of red. 


lew York' area and about 300 
throughout tbe United Stares. Reg- 
ulation of airline fares ended in 
1978 and now “there are more 
flights, more airlines, more fares,” 
said Dan Smith, manager of con- 
sumer and industry affairs for the 
Airline Passenger Association. 

Recent rhang ps in financial ser- 
vices includedmtinating the inter- 
est ceiling on saving deposits, ex- 
panding money-market funds and 
individual retirement accounts, 
availability of interest-bearing 
checking accounts and electronic 
methods of transferring funds, said 
Meredith Femstrom, senior vice 
president for public 
for American 

“Coming all at once, this can be 
highly confusing,” Femstrom said. 
“It takes longo- to make informed 
decisions and people tend to make 
them on habit rather than on infor- 
mation." 

A decade ago the average super- 
market carried 9,000 items. Today 
it carries 22,000, said Robert Wun- 
derie, a vice president of Pathmark 
supermarkets. A study by the Man- 
hattan advertising agency Dancer 
Fitzgerald. Sample found that 233 
new items were introduced to con- 
sumers in May, the highest total in 
the 21 years ance the monthly sur- 
vey began. Among the new prod- 
ucts are a worm-shaped version of 


of coraL 18 shades ol red, 17 shades 
of purple, 24 shades of brown, 23 
shades of wine." 

“A lot of people are spending a 
lot of time on choices where the 
differences are not aB that pro- 
found," said Dr. Norman Suss man , 
a psychiatrist at New York Univer- 


j to a department 

store to find a wSite shirt and there 
are a zillion different departments 

that might have white shirts. By the 

time you get to all of there you 
don’t fed tike buying anything. 

Now I stick to small arses with no 

escalators." 

“Ten them w bring back primary 
colon for dothes," said Linda Bur- 
nett, a travd agent in Washington. 
“Nowadays the blouse isn't pink, 
it’s dusty rose. The suit isn’t gray, 
it’s battleship gray. It’s impossible 


Consumer Federation of Amenca. 
But choices are sot likely to 90 
. On a recent evening. Manat 

roamed the aisles at Tower 


ideo with two friends, trying to 
aoose a tape to go wi th their Qu- 


aere food.' They ngecwd some 
movies because they had seen 
th*m others because they did not 
know what they were about. Some 
wens too heavy to suit their mood, 
others 100 light. Some were too 
to sit through, others too short 
After nearly half 


fr- 


ay. It’s ixnpossiow to fill an 

to buy anything that matches any- anlwurofooBsidenmw^sow* 
thiSdse." one suggested that they dose tbor 

More and more consumers seem eyes and choose, rather than miss 
w be simply deciding not to decale. an evening s murouunent 
Of the more than w> tszDion tele- “You’ve got it wro ng- Op aline 
phone customers in New York said. “Deciding has b ecome the 
Sato who wire asked to choose evening’s entertainment. 


Dog and All, Edinburgh Fest Opens 


By Graham Heathcote 

The Associated Press 


“She’s very placid and quiet, Hke 
most Labradors, but I could fed 


P DINBURGH — A French or- 


chestra opened the Edinburgh 


Festival on Sunday night by gby^ 


ing to a capacity audience of 
people and one dog. 

Cellists of the Orchestra Nation- 
al de France, conducted by Charles 
Du toil, were tuning up when they 
looked over the edge of the plat- 
form and saw a golden Labrador 
lying on the floor before the front 
row in Usher Hall 
Kath erine Smith, who has been 
blind all her life and is now in her 
70s, said she look her seeing-eye 
dog to the concert “because I didn’t 
tike to leave her on her own for so 
long." 

The 


dog, Gaye. age 6, dozed 


throughout the two-hour concert 
but lined it 


its bead in apparent sur- 
prise when the drums and cymbals 
banged and dashed. 


loud bits." said Smith. "I’ve never 
known her to bark during a con- 
cert.". 

When Smith stood for the na- 
tional anthems of Britain and 
France, so did the dog. During the 
long applause at (he end of (he 
concert, Gaye stood and wagged its 
tail 

Gaye was presented to Queen 
Elizabeth II last month when the 
monarch opened a new shopping 
center in Edinburgh. 

“The queen came over and spoke 
to Gaye and them to me and asked 
where she was trained and how 
long I haul had her." Smith said. 

The orchestra, returning to the 
three-week Edinburgh Festival for 
the first time since 1930, received a 
ax-minute ovation after playing 
Debussy’s “Marche dcossaise" and 


“La Met” and Ravel’s “Dap his and 
Oil oe" suite. Its encore won a fur- 
ther five minutes of applause. 

To save everyone’s feel, the 
French ambassador to Britain. Jac- 
ques VioL ordered three of the six 
verses of Beriioz’s right-minute ar- 
rangement of the Marseillaise to be 
cut from the Edinburgh Festival 
Chorus’s rendering. The gesture; 
however, drew a rebuke Monday 
from Conrad Wilson in The Scots- 
man newspaper of Edinburgh. 

“Alas; poor Berlioz," tte critic 
wrote, complaining that the com- 
poser was sabotaged to excess by 
French musicians during his life- 
time. Mare of the same "was not 
what was expected in 1985 on (he 
opening night of an Edinburgh 
Festival setting out to celebrate 
French music." be said. 

Wilson said he enjoyed the rest 
of the concert though. This was 
more than could be said by Michael 
Tmndty in the Glasgow Herald. 


* 


A 


t* 


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We are currently looking for senior personnel to fill the following 
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Kuwait 


Uiiiverslfy of ' 

Kuwait Health Science Centre 


Faculty of Medicine 


Applications are invited for the posts of CHIEF TECHNI- 
CIAN in the Departments of Surgery, Paediatrics and 
Community Medicine and Behavioural Science, Microbiol- 
ogy (Virology and Immunology). Candidates should have 
experience as a clinical laboratory technician and hold the 
Ft MLS, or equivalent qualification with 15 years’ experi- 
ence including training. The successful candidates’ duties 
will be of a mufti-discipline nature and will be both in 
laboratory and in the field. 

Salary will be in the range KD450-512 per month 
(KD1 -=£2.5, US $3.2 approx.). There is no income tax in 
Kuwait and currency is transferable without restriction. 
Free furnished, oir-conditioned accommodation is provid- 
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In Roeg's Insignificance 9 


By Sheila Benson 

Los Angela Tuna Service 

L OS ANGELES — Tudg qffi- 
* cance,” an intelligent, satiric 
comedy, brings together four 1950s 
icons an a swdiering Manhattan 
night, with haunting reverbera- 
tions. Though never named, the 
white-blonde movie star (Theresa 
Russell) filming on a street grating, 
her skirts blowing up around her 
ears, is thoperaonification of Mari- 


no higher praise exists. Michael 
F-nwi resists playing Knstrin as a 
cunning guru, instead portraying 
his character’s enormous faculties 
as both a gift and a burden. 

. O . 


any soul — it featured brilliance 
without voluptuousness and exud- 
ed a cool charm devoid of 
warmth," he wrote. 

The festival thnne this year is the 
“AuT Alliance’' between Scotland 
and France against England, their 
common enemy fra centuries. 


DOONESBURY 


Caprote reviews of other film s' 1 
recently released in the United 
States: 


MOVIE MARQUEE 


lyn Monroe; her increasingly irate 
husband (Gary Busey) is a legend- 
ary ballplayer suspiciously like Joe 
DiMaggio; the barefoot Princeton 
/scientist (M Jehad EmO) is Albert 
Einstein and the sweaty senator 
(Tony Curtis) threatening him with 
subpoena is Joseph McCarthy. 

The director, Nicolas Roeg, has 
taken Terry Johnson's adaptation 
of his irreverently inventive play, 
set in 1954, and given it additional 
layers; flashes of memory and aw- 
ful prescience. The result is absorb- 
ing, peculiar, richly comic and odd- 
ly touching. 

The actress and the scientist are 
at crisis points, he with the implica- 
tions of ms wok, she with the ero- 
sion of her second marriage and her 
life as a commodity. On a whim, 
she turns up at the scientist’s door 
to prove that she understands the 


of relativity. (The notion is 
; Einstein a 


Janet Madia of The New York 
Times on “Real Genius”: 

The story is set at a college with a 
highly advanced science program, 
winch, unknown to the wiuz lads, is 
being used to develop advanced 
weapons for the military. It centers 
on abpy wonder (Val Kilmer) with 
a tirelessly facetious sense of hn- 
mcr and a 15-year-old newcomer 
(Gabe Jarret) who has yet to get the 
hang of cofleae life. Martha Coo- 
lidge, who also directed “Valley 
Got," gives the darmitoiy scenes 
something of a high-tech 6a - : — 1 
House" flavor. Kuo 
be capable of being 
than his dialogue here. (The film 
has linn mate a lot of unfunny 
phallic jokes, which seem particu- 
larly strange coming from a female 
director.) Jarret is charmingly nat- 
ural as the shy 15-year-old who’s 
smarter than any of his d ^ mat e y 
William Atherton is good as tbe 
teacher overseeing the program 
and trying to stay calm in the face 
of Kilmers incessant downing. 

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notthat surreal; Einstein and Mon- 
roe once met, and wrae reportedly 
charmed by each other.) After a 
dazzling demonstration, as ground- 
ed in fact as it is long on ingenuity, 
rite demands that be reply m kind: 
“Now you have to show me your 


Maslin on “National lampoon's 
European Vacation”: 

Hus sequel to “National Lam- 
poon’s Vacation” is not as funny 


but has a jokey, loose-jointed com- 
ic style The gags tend to be broad. 


International Sales Director 


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throughout Europe and the Middle East 


The successful candidate will hpve a proven track record in 
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confidence to 


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EUROPEAN 
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Cessna international Finance Corporation, a wholly owned 
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bursts (he DiMaggio charac- 
ter. The film's most tender mo- 
ments come from tins hulking, 
noisy athlete; his loving, frostrated 
undemanding of tbe impasse be 
and his wife nave reached and his 
shrewd analysis of her needs, to 
have “a thousand people touching 
her all the time ana ... to be 
alone all the time also." 

As the impotent, vengeful sena- 
tor, unfortunately the (east wed 
drawn of the characters, Tony Cur- 
tis has the same sneering energy he 
had in “Sweet Smell of Success”: 




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and the director, Amy 

has a way of repeating them.' 

Griswald (Chevy Chase) has to hit 
three Englishmen in a row to estab- 
lish that he’s a bad driver. The film 
derives its jokes from the stereotyp- 
ical foreigners the family encoun- 
ters, the restlessness of the teen-age 
children (Jason Lively and Dana 
HDI) and the Griswalds’ philistin- 
ism, which knows no bounds. 

□ 

Maslin on “ Ammnk Are Beauti- 
ful People”: 

Jamie Uys has accompanied a 
series of cute voice-over observa- 
tions about desert creatures with 
footage sufficiently fascinating to 
dispense with any sense of snEncss. 
Uys, the Sooth African director of 


*Thc Gods Most Be Crazy," made 
this documentary several yens ear- 
lier and gives it a naive charm very 
like that of his Kg hit The film 
includes a few embarrassing scenes 
in which tribesmen, seen m their 
native habitat, are described in 
much the same terras Uys uses for 

animals 


ESGAIK 


in Paris 

at European 
export prices 

Marie-Martind 

8, Roe de S^rros, Paris 6th, 
TeL: (1)2221844. 

Credit cards 








Sihivs 






- 


FOR CH1KA TRADE 
INFORMATION 
AND FULL 

BUSINESS SERVICES 
YOU NEED 



4/F, DomMon Cootro 
59A Qufttfft Rd East 
■ Hong Kong 
Tlx: 74903 fHGGSHX 


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g gURES AMP OPTIOMS 

The Gold-Market Bears 

me ^ of Hibernatioii 

ByBj.MAH)ENBERG 

N ew york^^ T,mes Strvlee 

iFe once somnolent beare to 
had sold short. As nrU^ ™ °patract 5 to cover the bull; on they 
buying by bullish investorT*' brokers sported a flinty of fresh 

Btchazige^e ■ 011 New York’s Commodity 

futures market, the 

"All week ton* X Kjf? on * e **Y 56.80 for the week, 

that European buSondSw ^ LoD ^ on o£fices tis 

buy." f A^wS^f WCre wa,lin S for an opportunity to 

president of Princeton Eco- 
name Consultants of Prince- If prices retreat, 
ton. New Jersey, said. “They , , “ ■ 

apparently found it Friday af- technical indicators 

traders had left for the Week* P 0 ™ *0 a testing 

”$be fundamental reason ° f ^ Fehrnai 7’ e loW * 
that European bullion dealers 

boy. Mr. Armstrong said, was that gold prices 
°T„? e P re ^ OU5 Fri § a y. Aug. 2. “GoWis traded 
rx>undsv 6 *n n ° ted ’ apd to get the dollars required fewer 
,x ^S^J na f j£S . 306 Swis * francs on Aug. 3." 

2. whS? « iSf c J°f® W°* New York gold price of S321 on Aug 
£2>Au? i 5 ? iy °* ** European buy orders were placed, it took 
atf „ Z? buy an ounce of bullion. At the dose of trading Friday 
St of orders, it took £2405 pounds, Mr. Armstrong 
said, bunilariy, an ounce of gold for a Japanese investor went to 
OS? 76,234; for West Germans, to 9165 Deutsche 
marks from 907, and for a Swiss, to 755 francs from 738.5. 

in tact, as denominated in European and Japanese currencies 
on Aug. 2, the price of gold was the same as that on last Feb. 22, 
when bullion hit a low of $291 an ounce,” said Mr. Armstrong, 
whose firm acts as a market and wym ote consultant to many 
international companies. 


t 

¥ 


AS for the gold market's technical structure, he said the charts 
indicated continued strength this week. On Aug. 2, the 
-4- -A. charts indicated an upward resistance level, based on the 
spot price, of $329.30, he said. “If that level is breached," Mr. 
Armstrong continued, “then the next upward resistance point 
will be in the $342-5352 area." 

But if gold prices retreat this week, Mr. Armstrong's technical 
$ indicators point to another testing of last February’s low of $291 
an ounce. Basically, these resistance levels are charted by drawing 
lines touching the recent daily low and high prices, he said. 

Meanwhile. Bette Raptopouks, a metals-market analyst at 
PrudentiaFBacbe Securities Ino, agreed that, aside from local 
traders covering their short positions, most of the gold buying last 
Friday came from abroad. . . 

“But the shorts had reason to be surprised," she said Friday, 
“because, for one, the market on the Comex had been dead, 
despite the deteriorating South African situation and the weaken- 
ing domestic economy that Kaufman warned the market about 
today." r 

Henry Kaufman, chief economist at Salomon Brothers Inc, 
said Friday that the Federal Reserve Board was unlikely to 
tighten cre&t in the face of a softening economy. If so, domestic 
interest rates could, decline further, thus making dollar invest- 
. meats less attractive. 

“Gold needs a weak doHar and low interest rates to make paper 
investments less competitive," Mrs. Rapiopoolos said; “because, 
after all, gold is a form of currency, and nondollar currencies tend 
to rise when the dollar weakens." 

But this factor, and the growing racial conflict and mine labor 
disputes in South Africa, are still being ignored by the gold 
market South Africa, the biggest supplier of newly mined gold, 
(Continued on Page 11, CoL 1) 


Currency Rates 


Cress Rates As- u 

S i DJM. F-F. Itl_ OUT. ILF. SJF. Ten 

Amsterdam USB IMS HIM* 3UK* 0.1674* UO* 136J1- mar 

BnnMtaCal 54 jM J&06S 3022 UU 32125* 17JM85 2152 2JJB- 

Frankfurt 33984 US? 1MKX K»* 4*5* WJB* 1.179- 

■ n,) IJM 18765 11X738 MUU5 USD 7US 1103 XBL225 

Ml- 1X79 JOB 259680 671 JO 21955 977.15 31215 I USB 7.9* 

New YortclcJ 17233 b 2J9 151 1X7175 1125 5MB 12965 236* 

Parim 8J65 1184 U05B 0575 X 22703 1543 * 3J09S 34055* 

rokro 277.35 32SM 8480 2775 Jl»* ** «U5* IBID 

ZurkA 23043 3.1M4 KM85* 26.99* 0.1229* 7331* M»* 19722* 

1 ECU u.7%4 05?58 2335? 6J067 1,494.16 1501? 443879 1JS44 1B8J0S 

15DR 1JB194 074849 2*778 083057 1.91074 12511 504491 239 244931 

Closings in London and Zurich. Rxlnos mother European cantors. New Yort rotas at 3 PM. 
tat Commercial trwK W Amounts nemiedlo bur one paw* (cJ Amounts needed to buy one 
dollar rt units nf MO lx) Units othOOO tv) Units of UUOO NJl: not motea; MX; noiavoMMo. 
(*t To bar oatr noaott: JU^.13825 

Other Botlar VhIdM 

cwitnn otr Uii CurrwKY p or c ts* Cotnxv aer VSJ Cammcr Per OSS 

Araea. austral OlBO FUl maridUl 601 Malav. rlAB. 144 S.KCT. WCT1 88535 

aSls iJdS Ofwkdrue. 13110 Mw.pew 33000 Ml MUfti 16565 

1974 HOMXMi 77815 NOfw.kn»# 875 SwuLbtm 0317 

»89 iXZe PtApeea 1750 Taiwan* 4051 

673W0 iMLnwWi 1.11600 Fart, escudo 16600 TKalMd 36875 

SSiST irWrt 0.9074 Saudimi 14506 TurWrtBra 531* 

22SEL. UH UTtxefltfWk. 147400 MS 1197 UA6dlrt«n357M 

Kur^timoar 0JO2S 5.Afr.n«f 20127 VM-BoBu. 1«0 


Cum me r per U&S 
s. tear, won B8585 
Sean, peseta 16555 
SwWLkrOPQ 8317 
Taiwan S 4051 

TMIMM 36875 

TurfttehHra 53185 
(ME dtrtMDi 35725 
VMLUB9. 1610 


t narttM' 1342 Irish I 

_ f*. Banetut i Brussels ! . Banco Commensal* IMiana (Milan t; atemknt 

* Tokyo fTokvo>: ,MF tSDRii 

BAII tamer, rival. Okitamt. Other data mm /tauten and AP. 


IntorestRaies 


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Aug. 12 

Sterilna 

French 

Franc 

ecu 

SDR 

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9-916 

756 

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489 

485 ** 

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tag. 12 

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4mWrth ‘ 

1 year 89 W-biv 

Source’ Reuters. 


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Aug. 12 

Mi^MLynekR-WASMte 

jB(|n(wtn«yW4. 

Tolerate InWVSl Bota Index: 727* 

source: Merrill Lynch. AP 


£222 w 9 * 

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Aug. IS 

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Pl^yf T via 

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and zuridi menUv and 
inosi vort Corner curren, 

'SZTSS.**^**'***. 

Source Kevim. . 


U.S. Stocks 
Report, Page 10 

Page 9 


Wholesale 
Prices Up 
In U.S. 

July Rise Led 
By Food Costs 

The Associated Press 

WASHINGTON — Wholesale 
prices in the United States, led by a 
sharp increase in food costs, rose 
0.3 percent in July, the Labor De- 
partment reported Monday. 

The gain in the Producer Price 
Index, followed a revised 0.2 per- 
cent decline in June. For the first 
seven months of the year, wholesale 
prices have risen at an annual rate 
of 1 A percent Wholesale prices for 
the past 12 months have risen just 
0.9 percent. 

Few analysts see any reason to 
Tear the the good performance will 
change in coming months, al- 
though some warn that inflation 
will pick up next year as the impact 
of a declining dollar is felt 
“We should have a better perfor- 
mance on inflation than we did last 
year and one in line with the super 
performances of the early 1960s," 
said Allen S inai, chief economist 
for Sbearson Lehman Brothers. 

“The economy remains slack, oil 
and energy prices are dropping and 
commodity prices continue to ben- 
efit from earlier increases in the 
dollar." 

Food costs, which had been de- 
clining through the first half, 
jumped 1.3 percent last month, 
mainly because of higher prices for 
fresh vegetables and pork. 

Pork prices rose 6.9 percent Fish 
costs, less important to the overall 
index, were up 7.1 percent 
But the biggest increase was a 
2 ?. 2 -percent increase in fresh vege- 
table prices. 

Energy costs; along with food the 
other major component in the in- 
dex, fell for the second consecutive 
. month. Gasoline prices were off 1 A 
percent; fud-oil prices were down 
5.4 percent; natural gas prices de- 
clined 0.7 percent 
July was the first time that the 
government revised its survey tech- 
niques to end a reporting lag for 
refined petroleum products. The 
figures reflect price changes in July, 
just as for the other items in the 
index. The report was to have been 
released Friday, but officials post- 
poned the announcement 
The department blamed "pro- 
cessing errors” having to do with 
changes in the way the report is 
compiled, including the change in 
energy price calculations. 

New car prices showed no ’ 
change at the wholesale level after 
two monthly increases of 0.4 per- 
cent Light track prices rose 0.6 
percent after a 0.9 percent drop in 
June. 

The initial June report had 
shown no change at the wholesale 
level and followed four months of 
gradual increases. The July spurt 
was the largest since a revised 0.4 ' 
percent rise in April, which had 
originally been reported as a 03- 
peroem increase. 

“At some point the declining 
dollar is going to exert upward 
pressure on prices, but the dollar 
has noi dropped far enough or been 
down long enough for that impact 
to show up yet" Mr. Sinai said. He 
predicted that wholesale prices for 
the whole year would rise by only 1 
percent to 13 percent 



Japan Ship Line 
Reported to Be 

Close to Collapse 


: :V t 

iuM.ii sai&r 






v *. • 





Umoh im 

The Shenzhen International Hotel and its manager, Percival Darby, inset. The 
scaffolding to recondition a relatively new structure illustrates one of Mr. Darby's 
problems: An indifference to maintenance before his arrival about two months ago* 

China Hotel Manager Tackles Reform 

Percival Darby Oversees 96 Rooms, 50,000 Shower Caps 


By Dinah Lee 

International Herald Tnbun, 

SHENZHEN. China — Heed the utie of Perci- 
val Darby — not the hero of some Victorian 
romantic novel, but general manager of the Shenz- 
hen International Hotel, a joint venture between a 
Hong Kong businessman and the Forestry Minis- 
try of Shenzhen. 

Shenzhen is one of 14 coastal cities, and Hainan 
island, that are designated as Special Economic 
Zones. But the focus of the zone program has been 
put recently on Guangzhou. Shanghai. Tianjin and 

Dalian. 

Together with Xiamen. Shantou and Zhuhai, 
Shenzhen is one of the four original special zones 
announced under the reforms of Deng Xiaoping, 
the Chinese leader, in 1979. Shenzhen. Shantou 
and Zhuhai are in China's southernmost province 
of Guangdong, with Shenzhen at the busiest bor- 
der crossing between Hong Kong and China. 

Mr. Darby is only one of hundreds of foreigners 
now living in southern China, managing joint ven- 
tures in hotels, telerommunications and offshore 
oil. Since Mr. Deng established the first four Spe- 
cial Economic Zones as laboratories for economic 
reform. Shenzhen has mushroomed from a sleepy 
border town of 30,000 farmers to a sprawling 
boomtown of more than 300,000. utilizing the 
equivalent of S700 million in foreign investment. 


The speed with which Shenzhen has grown has 
led to acme problems in the system — dogged 
roads, electricity brown-outs and inadequate tele- 
phone-line capacity. 

The influence of Hong Kong television, radio 
and visitors has brought Shenzhen closer to the 
British colony in many ways ihan to the nearest 
mainland city, Guangzboul Black-market activi- 
ties are rife, and despite the efforts of the govern- 
ment, the currency used everywhere in Shenzhen is 
uot the currency of China, nor the Foreign Ex- 
change Certificates for use by foreigners, but the 
Hong Kong dollar. 

Many of Mr. Darby’s challenges are like those 
Taring all foreign managers of new joint ventures in 
China. On arrival, he immediately introduced an 
incentive system of points linked io wage bonuses 
intended to wean his local Chinese staff away from 
their complacent attitudes. Included in this was an 
“employee of the month” award. 

“At first, the system seemed fine until 1 was 
walking through the coffee shop and one of the 
waitresses told me she would be winning the ‘em- 
ployee of the month* award for August. ‘But this is 
only July,’ 1 said, ‘August hasn't even star- 
ted.' ‘That doesn't matter,’ she said. ‘The supervi- 
sor promised l would win it.' ” 

The frustrated Mr. Darby has since kept up 
(Continued on Page 15, Coi 5) 


Compiled by Our Staff From Dispatches 

TOKYO — Toshio Komoto, a 
member of the Japanese cabinet, 
offered to resign Monday because 
of financial troubles at Sanko 
Steamship Co., which he founded, 
an aide said. 

Meanwhile, Kyodo News Agen- 
cy and Jtji Press quoted “reliable 
sources'* as saying that Sanko, one 
of the world's Largest operators of 
oil tankers, planned to file Tuesday 
for court protection from its credi- 
tors under the Corporate Rehabili- 
tation Law. 

A company spokesman denied 
the reports, saying that Sanko had 
no plans at present to file for court 
protection. 

If tbe company (fid seek protec- 
tion, it would mark Japan’s largest- 
ever corporate failure. 

Sanko, Japan's largest shipping 
concern, owns 27 ships, totaling 
2.63 million deadweight tons, in- 
cluding 12 oil tankers at 1.1 1 mil- 
lion tons. 

It also charters 217 ships 
amounting to 18.02 million dead- 
weight tons, including 77 tankers at 
1 1 million tons, a Sanko spokes- 
man said. 

The aide to Mr. Komoto, quoted 
by The Associated Press, said the 
minister met Monday with Prime 
Minister Yasuhiro Nakasone. Tbe 
aide, who asked not to be named, 
said Mr. Nakasone tried to per- 
suade him to remain in his post, but 
finally agreed “to keep the letter of 
resignation for tbe time being.’’ 

Mr. Komoto, former director- 
general of the Economic Planning 
Agency, is now state minister for 
external economic affairs. 

The minister. 74, who f minded 
the company in 1937, was Sanko's 
president until 1974 but has not 
been directly involved in its man- 
agement in recent yean. He is the 
largest Individual shareholder. 

On the Tokyo stock exchange, 
trading in Sanko shares was sus- 
pended Monday for the second 
time since news of the company's 
financial trouble broke late last 
week. Sanko shares, which dosed 
the morning unquoted with sell of- 
fers at 27 yen. were down from 72 
yen last Wednesday. 

Trading was also suspended 


Reform of West German Bourses Seen for 1986 


Reuters 

FRANKFURT — Plans to 
modernize West Germany’s right 
stock markets should be completed 
by the end of 1985, the president of 
the Frankfurt Bourse said Monday. 

“There should be agreement by 
the end of this year and we should 
put it into effect next year,” said 
Karl -Oskar Konigs. who devised a 
plan to centralize stock-market 
technology and administration ear- 
lier this year. 

Attention has focused on re- 
forming tbe Frankfurt Bourse as it 
prepares to celebrate its 400th an- 
niversary later this month. 

There has been growing concern 
that the bourse system — with ex- 
changes in right cities, including 
Frankfurt, Dftsseldorf, Hamburg 
and Munich — is inefficient and 


outdated and has lost trade, partic- 
ularly to London. 

Mr. KOnigs has held his office 
for 16 years and is due to leave at 
the end of 1985. His plan, largely 
accepted in July by the seven other 
bourse presidents, calls for a cen- 
tral association, a single bourse re- 
port. a central dealing system and 
uniform computer network. 

“We want to stay No. 4 in the 
world after New York, London and 
Tokyo,” be said. 

West Germany has been slow in 
developing its financial markets, he 
said. Economic recession meant 
thai bowse reform was hardly a 
bunting topic in the early 1 980s but 
the recent upturn has focused at- 
tention on the need to raise capilaL 
Suxrk reforms are now urgently 
needed. Mr. Kbnigs said, with tins 


year’s opening up of capital mar- 
kets by the Bundesbank. 

Much share business has already 
been lost to London, with turnover 
in some major West German stocks 
there last year exceeding that in 
Frankfurt. 

Mr. Konigs dismisses fears that 
bourse reform will seriously dam- 
age business on such smaller ex- 
changes as Bremen and Hanover. 

“We are trying to create one 
market with eight outlets,” he said. 

Frankfurt already takes the li- 
on's share with 52 percent of all 
turnover — which totaled 234 bil- 
lion Deutsche marks (S833 billion) 
in 1984 — followed by Dfisseldorf 
with around 31 percent. 

Mr. Konigs said l ears that a cen- 
tral administration would see a fur- 


ther shift of business to Frankfurt 
are unfounded. By law the eight 
bourses must be maintained and it 
is neither necessary nor desirable to 
move toward a single trading floor, 
be said. 

He is enthusiastic in his defense 
of regional bourses as being dose 
to issuers and investors. 

“This is a strengthening of all 
German bourses,” he said. “To- 
gether we will bring back the busi- 
ness we have lost to London and 
elsewhere.” 

Regional bourses will gel a boost 
from a draft of a law due to be 
considered by parliament this fall 
that would allow smaller compa- 
nies to raise capital through sec- 
ond-tier listing without the cast of a 
full slock listing. 


Thursday, after press reports said 
ihe company’s three main creditor 
banks, Daiwa Bank Lid.. Long- 
Term Credit Bank of Japan Lid. 
and Tokai Bank Ltd_ were refusing 
to extend large new loans to the 
company. 

The repons were denied by the 
company, and Daiwa said the three 
banks were only in the process of 
reviewing financial help to the 
company. 

On Friday, however. said 
it was reluctant to continue lending 
io ihe company, a bank official 
reported. 

In April 1984, Sanko announced 
a three-year plan to reduce losses. 
Its current outstanding debt is esti- 
mated by banking sources at 400 
billion yen ($ 1.68 billion}. 

The parent company's net loss 
for the year ended March 3 1 rose to 
68.35 billion yen from 55.0S billion 
a year earlier, as 1984-85 sales rose 
to 267.96 bDlion from 246.26 bil- 
lion. {AP. Reuters) 

■ Increasing Competition 

Earlier. Susan Chira of The AV«- 
York Times reported from Tokyo: 

Sanko's troubles come at a tirue 
of worldwide recession in the ship- 
ping industry. Japanese companies, 
still the leaders in the field, have 
been particularly hurt by the gener- 
al decline in the crude-oil tanker 
business worldwide. 

They are also faring increasing 
competition from South Korean 
shipbuilders. 

The Japanese government has 
been studying ways to help Sanko. 

The company "has not yet re- 
ceived any direct government aid. 
but the Ministry of Transport has 
been considering ways to scrap sur- 
plus tankers. However, die ministry 
has reportedly derided against us- 
ing government money to buy the 
excess tankers. 

That decision, coupled with dis- 
satisfaction about the progress of 
Sanko's own restructuring, appears 
to have prompted the three banks 
to reconsider loans to Sanko. 

Sanko is not alone in suffering 
financial problems. In the last fis- 
cal year only two or the six major 
shipping lines paid dividends and 
only three made profits. 


Producer Prices 
Rise m Britain 

Reuters 

LONDON — Producer 
prices in Britain rose 0.3 per- 
cent in July while manufactur- 
ers’ costs dropped 2 percent, the 
Trade and Industry Depart- 
ment said Monday. 

In June, producer prices rose 
0.1 percent and manufacturers' 
costs dropped 1.5 percent, ac- 
cording to revised figures. Man- 
ufacturers’ costs showed no 
chance in the 12 months ended 
in July, after having risen 1.7 
percent over the year to June. 

The Trade and Industry de- 
partment also released provi- 
sional figures showing that re- 
tail sales rose 0. 1 percent in July 
to a record 116.1 in seasonally- 
adjusted figures, after a 1 . 2 -pcr- 
cem increase in June. 


Brazil Now Favoring IMF-Pact Delay 


By Alan Riding 

New York Times Service 

RIO DE JANEIRO — Rather 
than accept an austerity program 
that could slow the country’s eco- 
nomic recovery, Brazil's new gov- 
ernment now appears to favor post- 
poning, until 1986, the conclusion 
of a credit agreement with the In- 
ternational Monetary Fund. 

A planned rescheduling of $45 J 
billion in commercial debt matur- 
ing from 1985 to 1991 may also be 
driayed. since foreign banks have 
insisted on IMF approval cX. Bra- 
zil's stabilization program before 
completing their negotiations. 

After meeting President ' JosC 
Saraey in Brasilia last week. John 
S. Reed, chairman of Gticoip, said, 
“It has been our phflosophVto fol- 
low the guidance of the IMF," bat 
added, “The president conveyed to 
us his feeling that Brazil needs time 
to restructure its economy.” 

There have been recent signs that 
“expansionist” economists m Bra- 
zil's Planning Ministry, who be- 
lieve that Brazil should pay less 
heed to IMF demands, are winning 
a public battle against more “or- 
thodox” monetarists in the Finance 
MinistiY- 

“We’re studying ihe idea," fi- 
nance Minister Francisco Dor- 
nelles said last week. “There are 
two schools of thought here. One 
lot wants an immediate agreement, 
the other wants to break with ihe 
Fund." 

In recent public statements, Mr. 
Saraey has echoed the views of 
Planning Minister Joao Sayad in 


in the government was that, by 
postponing an agreement with the 
IMF, Brazil could demonstrate 
that it can simultaneously fight in- 
flation and achieve 5-percent eco- 
nomic growth without risking a 
new slump brought on. by still 
greater spending cuts. 

They also believe that, while a 
delay would involve risks on all 
sides; both the IMF and commer- 
cial banks will go alongfor fear of a 
confrontation with Brazil at a lime 


of new uncertainty in tbe debt situ- 
ation throughout Latin America. 

A 14-bank advisory committee 
representing Brazil’s 700 or so com- 
mercial creditors has already been 


informed by the IMF’s managing 
director, Jacques de Larosiere, that 
its talks with Brazil are continuing. 

Officials think that will suffice to 
persuade most banks to roll over 
about $16 billion in trade and inter- 
bank credits due for renewal on 
Aug. 31. 

1 merest payments on BrariTs 
S 104-billion foreign debt are up to 
date and, as a result of a projected 
$ 12 -billion trade surplus this year, 
the country should be able to cover 
the $10.5 billion in interest due in 
1985. Further, interest rates are, in 
many cases, now higher than those 
anticipated in the proposed debt 
restructuring. 



HARRY WINSTON 


"m 


V%V 


P?V\Vv 


Roval Oak 

■Po 





said: “We will not allow ihe dog- 
matic intransigence of internation- 
al financial organizations to im- 
pose an unnecessary recession on 
ihe country." 

Officials said the dominant view 


present 

their latest creations as well as 
a selection of their rarest stones 

CARLTON 

INTER.- CONTINENTAL 

Cannes 

• August 14 to August 18, 1985. 

New York Geneve Paris Monte-Carlo 


ii 1 - ' i 4^ i: 5* ■&<>■ . rvjC-; 


S{ - jf : •£'; ./> 





PARIS; S, rue RovjIc - 35- avenue \ kior-Hugo - AC-roport dc Roiss\ -Ducv-Free- 
CANNRS: h. la Crmstriie" f.KNHVH: 68 . ruedu Rhone CRAN^-St R <IURRK -I cs troih Uurnns* 








PTF.R ALD TRIBUNE, TUESDAY, AUGUST 13, 1985 


NYSE Most Actives 


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Via The Associated Press 


AMEX Diaries 


NASDAQ index. 


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tors adjusted to the view that the economy will 
not grow as much in the second half of the year 
as many had hoped. 

The outlook for corporate profits has become 
bleaker, said Monte Gordon of Dreyfus Cocp. 
Enormous competitive pressures created by for- 
eign imports mean domestic companies cannot 
raise prices to increase their profits, he said. 

Mr. Gordon said the economy will ronain 
sluggish during the third quarter and will not 
fnake* significant improvements during the 
fourth. 

In addition, most investors still do not expect 


Coro., Hewlett Packard and Digital Equipment 
were all modestly lower. National Semiconduc- 
tor was also off modestly. . r . - 

Philadelphia Electric and Middle South Utfl- 
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and Commonwealth Edison were ahead. 

Among media and entertainment stocks, 
MGM-UA and Disney were lower. 

AT&T was unchanged. Nynex was up a frao- 

0 °On the Amex. active issues induded BAT 
Industries, Echo Bay Mines and Direct Action 
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(Continued on Page 12k 




























































































































aseap 


^OQ NDup 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 




ro ®t Rose 4.7% in First Half Computer Firm Loses 

a BedrockWM Contract 


er *KHion a j Htmid Tribune changed” from 1984, when ii and stood by his projection that 

^OCKHOI u earne d 2.48 billion kronor. 1985 earnings would rise by as 

fne Swedish ASEA AB saId growth in first-half, raw* as 7 percent from 1984. 

•ndustria) ^”f ctri cal and heavv was Smiled becauseof a Mr: Flatting said ASEA was one 

^bai its Dtetar re P° rte d Monday < * ec ™ c .“i earnings by its- power- of die beslelecirical shares to hold 
percent in thTr:^ 1 ?^^ rose 4 1 ^ en ^ at ™8 utilities in Sweden dor- i» tbemedhinj term in Sweden or in 
U 1 billion ^ of ! 9«5 “§ *** harsh winter. ASEA's noli- Europe, pointing out the compa- 

front C$132 millmnt w ? re forafid to buy expensive ay's high number of orders and 
half of lo&i® ^ ron ° r Ui thefiTO elcc , lnc ity to cover customers’, large order backlog. 


MidCon to Acquire United Energy 


^Tin ,hfr Carn ®8S nST? * 


^ $ 

if f£ 

a 


r -^‘ . r 


Qor. ujj biUkm kro- 

hmikSnor teS^i! 5 ' 69 

■“> intenm report 

\ Son ^ be- 
economy eamh?? W ? 10 lte wodd 
would b/^5mSJ A f< ? 311 of 1985 
approximately un- 


thefiTO to cover customers 

0151 Deeds and were also affected by a 


late spring flood, which filled 
Power-generating reservoirs to full 
capacity. 

_ Michael Willis Fleming, a Spe- 
cialist in Scandinavian shares with 
EiL Savory M3tn, a London bro- 
kerage, said ASEA’s first-half re- 
sults. woe about in line with his 
expectations. He said the compa- 
ny’s forecast was “overcautious” 


In the interim report, ASEA said 
order bookings rose 21.4 percent, 
to 19.26 billion luonor from 15.86 
bflfion kronor a year earlier. Order 
bookings from North America. 
Asia and Western Europe “experi- 
enced a gpod growth rale.” 
Order backlog was 34.16 billion 
kronor at the end of the first half, 
compared with 31.2 billion kronor 
a year ago. ASEA reported. 


Rtuttn 

CHATSWORTH, California 
— Computer Memories Inc., 
which deriwsd 81 percent of its 
first-quarter revenues from 
sales to International Business 
Machines Corp-, said it has 
been informed that IBM does 
not intend to order additional 
disk drives after the. current 
contract expires Dec. 31. 

The company said its sales to 
IBM accounted for about 67 
percent of its revenues for the 
fiscal year that ended March 31 
and 81 percent for the first 
quarter ending June 30, when 
its cash position was S19.4 mil- 
lion and no debt. 


By John Cruddc 

New York Tima Sendee 


NEW YORK — MidCon Corp. Coast of Florida. The combined 
will acquire United Energy Re- companies would have assets of 


pipelines stretching from\he Mid- S36, up $2 for the week, as specula- 
te West to Texas and the Gulf don intensified that an agreement 


die West to Texas and the Gulf don intensified that an agreement 
Coast of Florida. The combined with MidCon was near, 
companies would have assets of A source close to the agreement 
about S 6 billion and annual reve- said the transaction did not include 


sources Inc. for $41 a share, or a about S 6 billion and annual reve- said the transaction aid not incmae 
tola! of $1. 15 billion, in a transac- ones of about S7 billion. provisions Tor liabilities that may 

lion that would create one or the Under the terms of the agree- be incurred from lawsuits pending 
largest natural-gas pipeline con- menu MidCon, based in Lombard, “W 5 * “* e company, 

cems in the United States, the com- niir>™<, will pay S41 in cash for * iudl . lS based in Houston, is tec- 
pames have announced. 18 ., ^Uion ftaares of United, or 

The transaction was approved about 65 percent of the company's tracts ilcaccetedm the yearly .1970s. 
unanimously by both boards, the shares outstanding- The remaining- . Analysts have said liabilities 
companies said in an announce- shares will be exchanged for stock fl °“ ! *“* nuts wuld amount to as 
mem Sunday night It must still be in the resulting company. That new much as $600 million, 
approved by shareholders of Unit- stock is intended to be worth $41 a United, the eighlh-largest U-S. 
ed and by regulatory agencies. share. natural-gas-pipeiine company. 


The transaction was approved 
unanimously by both boards, the 
companies said in an announce- 


were automakers, computer com- 


NEW YOKv n Senice pames, textile makers and chenri- 
owih . _?7 Weak economic concerns. Aerospace compa- 
te rarTM'r.i 0 !*^riuster U.& corpo- uies, miny bolstaealy ndfiiary 
rammgs iq the second quarter, contracts, did. weit while airlines’ 
rf”bnghi spots overwh elmed results were mixed. 


at roro Motor CoJa percent ana 
at Chrysler Corp.2o percent. 
Chrysler’s earnings comparisons 


770168 of second-quarter earnings suffered in part from a higher tax 
at 274 companies showed that rate as lax benefits from earlier 


bv dmi ~ ZC ovcrwn ftimfvi results were nuxeo. at v.arysier A-orp.zo pci ecu i. 

ranofr^A a wide AcompaarionbyTheNew York Chrysler’s earnings comparisons 

“T 3 u* r f ”? 1 Times of second-quarter earnings suffered in part from a higher tax 

ooint- * P !™* 15 Picture was disap- at 274 companies showed that rate as tax benefits from earlier 
but not unexpected, given earnings increased at 140 compa- losses expired. 

gcucral in the nies from the same period last year. Most textile and apparel compa- 

a t *** year," said Robert decreased at 99 and were the same Dies, which are being hurt by com- 
p Gou gh. an economist at Data & five concerns; 30 companies petition from imports, recorded 
resources Inc. posted losses during die quarter. lower earnings. Burlington Indus- 

The U.S. economy grew at nnlv a Most makers of computers and tries Inc. reported a 75-percent 


IBM accounted for about 67 j ■ r* , snares win oeexcrangeo ior sioot « 

percent of its revenues for the ***? !* in the resulting company. That new much as $600 miUion. 

fiscal year that end^d March 31 ^pprewexi by shareholders of Umi- stock is intended to be worth $41 a United, the eighlh-largest U-S. 

and 81 percent for the first by re S uta[or y ageaaes. share. natural-gas-pipciine company, 

quarter ending June 30, when The agreement, which has been United’s shares have been rising canceled the contracts because, the 

its cash position was $19.4 mil- die subject erf rumors for weeks, for the last two weeks amid rumors suits contend, the price of gas was 

lion and no debt, would create a company with of a possible takeover. In heavy no longer in the company’s favor. 

_1 30.000 miles (48,000 kilometers) of trading Friday, United closed at The cancellations forced customers 

to seek gas elsewhere at greater 

m Quarter Chrysler, Union Open Contract Talks ex ^^S^M^rineiger is 

C*f/ V msKsm j r the latest consobdauon move in the 

The Associated Pr&s natural gas industry, which has 

profits were up 33 percent. Lock- HIGHLAND PARK. Michigan — The United Auto Workers and been plagued by lower prices and 
heed Aircraft Corp.’s increased 12 Chrysler Corp. opened contract talks Monday, with the nnion saying the competition from the oil industry, 
percent and McDonnell Douglas car maker’s return to profitability employees deserve parity in pay where prices are also lower. 

Corp.’s rose 1 1 percent. and benefits with others workers in the U.S, automobile industry. Imeroorth Inc. acquired Hous- 

Many airlines, capitalizing on in- The opening ceremony with the U AW president, Owen F. Bieber, and ton Natural Gas Corp. in May for 
creased traffic, bad rises in earn- the union’s chief negotiator. Vice President Marc Stepp, and the compa- $2.3 billion, while Coastal Corp. 
mgs in the second quarter. AMR ay’s chief bargainer, Vice President Thomas W. Mina, signaled the start paid about $23 billion for Ameri- 
Corp_ parent of American Air- of preliminary bargaining in subcommittees. can Natural Resources Inc. in 

lines, saw its net surge 144 percent Face-lo-face bar gaining among the main negotiators was not expected March. Tenneco Inc. bought some 


to seek gas elsewhere at ; 

Olow U.S. Growth Brought Slack Profits in Quarter Chrysler, Union Open Contract Talks EHS: 

B v p: I , ^ The Associated Pnzs _ natural gas industry, Whil 

® "■ Stevenson were automakers, computer com- competition and increased promo- profits were up 33 percent. Lock- HIGHLAND PARK. Michigan — The United Auto Workers and been plagued by lower pric 
NEW vnoir J ~ unef Sertice parties, textile makers and chemir tional expenses, all reported sharp heed Aircraft Corp.’s increased U Chrysler Corp. opened contract talks Monday, with the nnion saying the competition from the oil in 

£rowtM,Jq . " economic cals concerns. Aerospace compa- drops in net income. Profit at Gen- percent and McDonnell Douglas car makeris return to profitability means employees deserve parity in pay where prices are also lower. 

nies, miny bolstered by miliiajy era! Motors Corp. fell 28 percent, 
with theh^h 1 ^ sccon d quarter, contracts, did. well; while airlines’ at Ford Motor Co23 percent and 


ad benefits with others workers in the U.S. automobile industry. Interoorth Inc. acquired Hous- 

The opening ceremony with the UAW president, Owen F. Bieoer, and ton Natural Gas Corp. in May for 
)e union’s chief negotiator. Vice President Marc Stem?, and the comna- 52.3 billion, while Coastal Corp. 


can Natural Resources Inc. in 


a nTV yau ' wk* Robert 
o uou SD, an economist at Data 
Resources Inc. 


The U^. economy grew at oolv a Most makers of computers and tries Inc. reported a 
1 -percent annual rate' m the first rix °tiier office equipment had a diffi- drop in net income, 


months of 1985 ^ at a 1 7 __ cult quarter as they suffered from 
cent rate in April through Junt" weak < ^ emand and transition to 
The west new product fines. Net income at 

followed - rcsu *. ts International Business Machines 

the first ean D n 8 8 . m Corp . dropped 13 percent from the 

per^d JaS^r. fran g Laborauv 
LL ; ries had a $109 million loss, and 


lines, saw its net surge 144 percent Face-lo-face bargaining among the main negotiators was not expected 
to a record $173.9 million- But to begin until the month oefore the contract expires Oct. 15. 

UAL, the permit of United Air- The company posted a record 1984 profit of $2.4 billion, although its 

lines, registered losses of $91 mil- showing this year has not been as strong because of taxes. 

lion after a monthlong strike. The typical Chrysler assembler earns 512.79 pa hour, 39 cents less 


mam negotiators was not expected March. Tenneco Inc. bought some 
antract expires Oct 15. pipeline properties last month from 


lines, registered losses of $91 mil- 
petition from imports, recorded lion after a monthlong strike, 
lower «*arning < Burlington Indus- Modest decreases in the dollars 
tries Inc. reported a 75-percent strength have not hetoed earnings 
drop in net income, while Lew much, economists said. Most econ- 


The company posted a record 1984 profit of $2.4 billion, although its Goodyear Tire & Rubber Co, for 
showing this year has not been as strong because of taxes. $500 million. 

The typical Chrysler assembler earns 512.79 pa hour, 39 cents less United’s earnings have dropped 
than the $13.18 pa hour earned for the same work at General Motors sharply in the last three years, and 


Corp- and Ford Motor Co. 

A pay increase set for SepL 2 will brio, 


its revenues have declined for two 
Chrysler assembly consecutive years. In 1984, the 


cult quarter as they suffered from Strauss & Co„ which ispursuing a cwnists predict that growth for the workers to within 6 cents an hour of their GM and Ford counterparts. But company earned $35.6 million on 
weak demand and transition to management buyout, saw nom- second naif of the year will be con- a raise scheduled for two weeks lata at the two larger automakers will revenues of about $4 billion. Some 


weak demand ana transition to management buyout, saw net in- 
new product fines. Net income at come plummet 52 percent. 
International Business Machines Many aerospace companies con- 
Corp- dropped 13 percent from the tinued to benefit from high levels of 
period last year. Wang Laborato- military spending. Bodng Co.’s 


siderably above the sluggish rate of wipe out that gain 


the first half, although profits are 
not expected to return to the robust 
levels of last year. 


analysts have expected the compa- 


Beyond the money. UAW negotiators will push hard in the broad area ny’s profits to improve this year, 
of job security, including limits 00 contracting work outside the company but they have said revenues would 
that could be performed by UAW employees, Mr. Stepp said- remain flat. 


Page 11 


Sobering Reports 
Rise in Earnings 
In the First Half ■ 

Reuters 

BERLIN — Schcring AG. • 
the West German chemical „ 
group, said Monday that it had 
increased first-half earnings in 
its parent company and group 
from the period in 1984. ft also 
predicted continued good re- 
sults in the second half. 

Profit figures wee not pro- 
vided- Last year, Schcring re- 
corded a record 138 million 
DM in net profit, a 72-percent - 
increase ova J983. ■ 

Fust-half group sales volume - 
rose 12 percent, to 2.78 billion 
Deutsche marks ($982 million), 
with all sectors recording 
growth. Volume in the parent 
company increased 11 percent, 
to 1.23 billion DM, Schcring 
said in a letter to shareholders. 

Parent-company earnings 
were higher than a year earlier 
despite a considerable increase 
in research and development 
spending, it said. 

The group recorded an over- 
all rise in first-half earnings 
even though US. profits fell. 

Gulf, Petro-Canada Stall Pact 

Reuters 

TORONTO — A transaction be- 
tween Gulf Canada Ltd. and Petro- 
Canada, the government-owned oil 
company, has been delayed for 
technical reasons, but is not in 
jeopardy, analysts said Monday. 
The plan is said to involve the sale 
of some Gulf Canada assets to Pe- 
iro- Canada for up to 900 milli on 
dollars ($661 million). 


dollar and a ~~ ” nes naa a million loss, ana 

totoimdUfWrfmpam.eam- Apple Compute,, which w m t 

“■ through a management slink eup 

total annuali ze d , seasonally-ad- that resulted in the co-founder and 
sfter-tax profits were $136.3 chairman, Steven P. Jobs, losing his 
bilhon m the second quarter, down . day-to-day responsibilities, posted 
0-5 percent from the first-quarter a $1721 million loss, 
total of $137 billion and down 93 Weak demand from industrial 
percent from the $150.2 billion re- customers hurt chemical makers, 
corded in the second quarter of American Cyan amid Co.’s profits 
1984, according to Data Resources, fell 34 percent wide CHm Corp.’s 
U3. corporate profits hit their were down 52 percent and Union 
all-time high of $150.6 billion in the Carbide Corp.'s dropped 20 per- 
firsi quarter of 1984. cent 

Among the industries hit hardest The Big Three automakers. 


corded in the second quarter of 
1984, according to Data Resources. 

U3. corporate profits bit their 
all-time high of $150.6 bfflkm in the 
first quarter of 1984. 

Among the industries hit hardest 


in the April- through- June period which are suffering from import 


COMPANY wares 

Air Canada announced a perma- 
nent year-around fare structure far 
all Canadian and U3. routes. * 
American Can Co. has filed with 
the UJL Securities and Exchange 
Commission for a shelf offering of 
up to $300 nnffiem in debt securities 
on terms to be 5 et at the time of 
sale, v./ *• 

Cjsfieunlpe Toeheys Ud. pro- 
jected a net profit c^-S823^amaoa- 
in theye&r ending July 30. 1986, up 
from an estimated $73 million in 
1984-85, according to a stock ex- 
- change statement The dividend is 
expected to rise to 28 cents from 27 
cents last year. 

Cargo North Asia LhL, a mem- 
ber of the Cargill Tradax Group, 
plans to build a compound feed 
plant at Shibushi Bay on Kyushu, a 
company spokesman said. Industry 
sources said CargflTs plan has 
caused concern in the highly com- 
petitive Japanese compound feed 
'industry- 

Christian Saivesen PLC -an- 
nounced a £103 million ($14.25 
million) expansion program in 

food processing* storage and distri- 
bution in North America, Britain 
and the Netherlands. . 7 

Desk & Co. assets worth $45 

million have been approved for sale 

by a UJS. Bankruptcy Court, and 
Hcmg Kong may take legal actum 


Gold Futures 
Come to life 

(Gmtinued from Page 9) 

V produced 683 metric tons, or 70 

1 percent of the Western world’s out- 

- put of the metal, in 2984. A metric 
ion of gold is equivalent to 32,150 
trov ounces. 

Normally, the gold market ro- 
s sponds less to supply factors than 

to demand because it has been esn- 

mated that the amount of buflionm 

existence equals nmghiy IOO yems 
worth of the poteDtiaJj 1 ^ 1 pro- 
fe duction. Gold is one of the mat 

| recycled metals. The gold a eta 

1 purchased today is just as likely to 

l have come from an “aeniEgyp- 

\ tun pharaoh's jewelry as from re- 

cently mined South African ore. 

“Despite the huge supply of ex- 
UunTg^d,’’ Mrs. Raptopoulos 
said, “the market did respond 1 w 
the news wire reports at2 P-M-ti* 1 
South Africa's Chamber of Mmes 

2 d it would not npeaseris^e 
offer to the gold minors- This con 
, Lributed to the reawakening of the 

j * S£? «, ifeM 30 a”” 1 ** 01 

! of sold futures 


to recover some of the funds, the 
official liquidator ctf the Deak Pa- 
era Far East unit said. 

Imperial Chemical Industries 
PLC has a I5.1-percent U.S. own- 
ership, or 97.7 million ordinary 
shares, in the form of American 


depositary recants through Mor- 
gan Guaranty Trust Co, a comp- 
nay statement said. The U.S. stare 


^ market cm the New ™ 

though South Africa are nol 

ptaunum futures 

^.fcrag^outhewedtof 

§10 3D ounce. 



wasMnder l percent early in 1983. 

- QaM Group Hokfings Ltd. said 
it has readied agreement to sell its 
Oce-Skycopy division to Kodak 
Ltd. Oce-Skycopy, based in Lon- 
don. distributes products to the 
graphic arts and printing industries 
in Britain. 

Pakistan National Shipping 
Corp~, which is owned by the state, 
has begun a through service from 
West (roast prats in North Ameri- 
can to Karachi and Colombo, Sri 
by- transhipment via Yoko- 
hama, Japan, and Keelung, Tai- 
wan, the Pakistan Shippers Council 
■aid. 

ADVERTISEMENT 

WUCTM ELECTRIC WORKS, LTD. 

(CDR*) 

RderrinK Is the advertisement of 4th Fehrn- 
ary. I9» the jmtntmczs ihs) ihe 

new shaves from 10% bum bwe been 
received. Am from lWi Aagut, 1985 
thr are CDRs Elecsrie WorVa 

Ltd. endh nw. 14MO Sbs. a Yen 50,- 
cmn drr^Kk.36 se* nnd tahra wiD be 
mtidundv obtainable at Kaa-Asao- 
daxim N.V^ SputatzMA 172, Amrier- 
daa aeninat delivery ol 200 
dbxMJMk. 34 of CDRs rtpr. SO Sh- 
at Yea 50 1- or 10 34 of 

CDR* rejur. 1.000 She. el Yen 50,- 
CcontanatioD of tkronnnatinm b posuhle. 
After 13th September. 1985 Aeequba- 
leni of the CDRs which have am been 
claaned tw the holdess of 34 will 

be wJ«l The proceed*, after o educt i nn of 
omnses, will be heid in cash at the disposal 
of said holders. 

Farter the mafersigned amwmwcs that as 
from lidtAommi, 1985 a Kas-Assnda- 
tie N.V., SpoiEtnut 172. Amaterdam, 
(Er^pjso. 35 (accompanied by an ".\0ida- 
viCJ of die CDRs Hnkha Electric 
Worka. Lad. wffl be paynUe with DO*. 
5,13 net per CDR npr. 50 Sfas. and 
wftb Dflo. 102^0 net per CDR, rwr. 
1,000 She. (div. per rec-dale 20^1 w5; 
sroas Yen 9.- pjih.) after deduction of 15% 
Japanese tor* Yen 67.50 « DO*. -.90 per 

55«i«r. 50Shs^ Yen L3SX- - DIU .18,- 

perCDR rent. 1.000 Sbs. Witeman Affida- 
vit 20% Japanese tax "= Yen 90,- 
I^OperChflrepr. 50shs^ Yen L8D0.- “ 
DQs. 24,- per CDR repr. 1.000 shs. will be 
deducted. .. 

Alter 20.9.1985 the *v. will only be paid 
under dadnetioo of 20% Jajfctax with Mb. 
4JJ3 per CDR reu. 50 shs. and with Mb. 
96iS0 net per U)R tepe 1.000 shiM in 

accordance with ihe Japanese lax regulatioiia. 

AMSTERDAM DEPOSITARY 
COafPANYN-V. 

AtotUrdam, lat August, 1985. 


ADVE RTISEMENT^^ 

IttffiA elecihc trows. LID. 

(CDRs) 

The undesigned ajmmmces ihril he A_n- 
n £ Report 1985 of Makitalfccrcte 
Woris.wd- will be available in Am- 
gienlain at 

Rotterdam Bank N.V„ 



Arab Bank Limited 

bringing our worlds together 


Bank Meat & Hope NV, 

KaB-Affiocintie N. V. 

AMSTERDAM DEPOSITARY 
COMPANY N.V. 

Amsterdam. 1st August, 1985. 


4 30M + JS I low tl* RgISk 1w1l3 

- * tt » ^ *** FGTrn 

Si iiSQSS M » 71 16 


For over fifty five years now the Arab 
Bank has been working to bring our 
worlds together. A truly international 
network with more than 80 worldwide 
branches and affiliates, the Arab Bank 
works literally around the clock to 
perform services for its clients, to 
strengthen economic relations between 
the Arab countries and the outside 
world and to provide an insight into the 
complex and lucrative Arab markets. 
Our branches and affiliates span four 
continents: Asia; Africa; Europe and 
America with key offices in all of the 
world s major money centres. We offer 
a full range of international banking 
services. Demand and time deposit 
accounts. Trade and project finance. 
Medium and long term credit. Foreign 


exchange services. Corporate and 
merchant banking. Correspondent 
banking and important advisory 
services. 

Quite naturally, our main business is 
Arab business. The majority of our 
offices are concentrated in the Middle 
Eastern markets and our branch man- 
agers are experts in all markets and their 
distinctive differences. We are amongst 



the largest financial institutions in 
our area with over $12 billion in assets, 
decades of growth and contacts through- 
out the Arab world. 

As the world gets smaller and markets 
more competitive, the Arab Bank is 
always there to give you that edge in 
Arab markets. 

If you are considering negotiating any 
business in the Middle East why not 
contact us first? - You will be pleased 
with our expertise and advice. 

London (01)6067801 
Paris • (01) 3593434 
Zurich (01)2213035 
Athens (01) 3255401 
New York (212)7159700 
Singapore 5330055 


7 1»W Wfc'Wtt 
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Page 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 



Monday^ 

MSE 

dosing 

TaDles taciutJe the not fonwMe Prices 
up to the ctosins on wall Street 
and do not retted late trades elsewhere. 


12 Month 
High Low am* 


Dhr. YW. PE 


Sis. 

IBOsHWi Low 


oom 
O uBt.Ortw 


(Continued from Page 10) 


IBto 1114 SelpLI 

40 Z6to SvcCas 
14>« 111* Shaktce 
341V IS Shawm 
57V. 2*ft shell T 
30to 171* 5IWIGIO 
« 25ft 3hn»in .*2 

Sft SI* SHoetwn 

1**S 17 Shawfil JO 

I?ft 13ft starPoc 144 
44ft 38 Vh Signal 1X0 
44% 43 V 3 Slant nd 

45 5214 Stanlpf 4.13 44 

41 34% Sinner M 1.1 " 

33% 27V* 5 Ingr pi i» 104 

18 17V. Skyline J8 IS 19 

264- 20% Slattery 
15% 7% S ml thin 
71% 50% SmkB 
794* 42U SmuChr 
41% 3JH Snap On 
15% 13% SnyOer 
43% 30% Sonar 
19% 13% SortrCp ' 


A 1 2 IB 
7i S3 21 

SO U I 

2J7e4J 7 
JO 3.1 a 
.92 23 13 

4J 12 

94 9 


ISO 

JSe 


2914 2 » PcLum 

10 5% PacRes 

17% 1293 PacSd 40 24 

82% 40% PacTeto 5.72 7J 

1314 9% PoeTIn 40 33 

31% 23% Pad ten 232 83 

34 29% PocHpl <07 II J 

43% 24% PalnWb 40 ZO IB 

34% 24% PabiW pf23S 7.9 

39 33% Palm Be 130 

40% 20 U. PanABk .70 

Bto 4 PanAm 
3% 1% PonAWt 
ZT 13% Ptvidck n SO 
41% 32% PonhEC 230 
8 3% PanIPr 

19% 13% Paoreft <01 
10% 9% Par dm 

21% 11% Par* El 
0% 4% ParkOrl .14 

39% 2SV. PartcH 1.13 
20 14% ParkPn 

2% 1% PaiPtii 

16% 11% pavNP 
23% 14 PovCsh 
11% 4% Paabdv 
1% % Panaa 

58% 4fl% Pen Cm 
55% 44% Penney 
27% 22% PaPL . . 

40% 31 PaPLPf 4J0 11-7 
78% 57% PaPLPf 040 II J 
29% 24% FaPLdPi3<2 II J 
27% 21% PaPLdP(2.«0 I1X 
77% 50 PaPL pr &40 IIJ 
28% 23% PaPLdpd-25 114 
31% 25% PaPLdPrtJS fiU 
91 70 PoPLpt 934 10.1 

TDD 01% PaPLPrllJOO 113 
70% S5 PaPL pr 84)0 121 
74% 99V. PaPL or 830 123 
41% 34 Penwll 230 U 13 
25% 20 Penwpt l<0 43 
50 28% Pemuol 230 

18% 10(4 PeapEn 130 


ts 

78 

3BK 

jm 

2S% — 

to 

12 

27 

Bft 

6% 

Sto- 

ft 

13 

49 

15% 

1S« 

ISto — 

% 


919 


73% 

73% — 

% 

7 


12% 

12% 

12% — 


B 

499 

28% 

28 

28% + 

ft 


14 IS 
1J II 


«J IT 
32 
15 

10 

33 

. 33 11 
331 23 47 

4 

44 43 14 


58 34% 33% 34% -M 
744 38% 2PH 39*- « 

133 38% 28% 28%— % 

54 35% 34% 34% — % 

48 38% 381* 38%— % 

rwi 0% 7% 8% + % 
2704 4 3% 3% + % 

13 23 42 14% 14% 14% — % 

340 34% BH 33% 

S39 7% 7% 7% — % 

104 19% 19% 19% 

122 10ft ID 10% 

94 13 12% 12% — % 

94 5 4% S + % 

194 34 U. 33% 33% — % 
82 19% 19% 19% — V. 
M0 2(4 2% 2% + % 

_ . 45 13% 13% 13% — to 

.16 .9 16 1010 14 17% 10 

SO 1.9 27 189 10^ Hfjs Ifffl + % 

13 448 S3 51% Sl%— 1% 
9 473 48% 40% 48% — % 
8 391 2Sto 24% 2SU. + (4 

302 38% 38% 38%—l% 
I550Z 73% 72V 72V +1% 

19 29 28% 29 

32 26V 24 V 26% — % 

lOOz 71 71 71 + % 

6 38 28 28 — V 

20 30% 30% 30% — % 
35001 91% 91% 91% +2 

7001 98 98 95) 

80, 64 65 64 +1 

400z 71% 71% 71% + % 

55 39% 39V* 39%— % 

4 24% 24% 24% + % 

A3 20 1547 47% 47 47 — V 

8.1 6 282 15 14% 14%— V 


JOe 12 l* 
22 38 
280 <1 II 
1X8 LS 14 
1.16 JUt U 
3X0 13.1 15 
280 SJ B 
,15e IX 12 
30V 22V SooLIn 121 <5 21 
40V* 30V SounC 120 U 
30% 22V SoJerln 2<8 9.1 12 
49% 38% Seudwn lJO 2 J 10 
35 74 Soelflk UO 3.9 10 

10 4% SootPS 213*318 40 

27% 20 SColEO 2.1a 8.9 8 

73% IS SOUttlCo 1.92 ?J a 
26% 17% SOlnGaa 180 7.9 8 
« 30% 5NETI 2Ji 4J 71 

39% 31V SoNE of 182 10.1 
27’* 22% SoRvpf 160 9J 
31 Mft SoUnCo 1J2 6.1 
39% 24V Soullnd 1X0 27 10 


16% 11V So ROV .12 

8% 6V Scutnrfc JO 15 

51% 47 Somfcpf ?J BsMJ 


7 17% 17% 11% 

» 39V 39% 39%— V 

54 13% 13% 13% — % 

024 24% 23V 24 

2932 37% 34% 37% + V 

13 2614 7*% 24% 

34 39% 39% 3*ft 
211 7% 7V 7% 

42 12V ,12% 1IW — V* 

140 18 17% 17V— V 

24 16 1084 42V 42 42% — V 

187 42% 42% 42V— V 
48 Z1 43% 42 62 —2 

142 359* 35% 3S%— % 
II 33% 33 33% + V* 

214 13% 13% 13% + % 
9 25% 75 25 — to 

176 8V 8% 8% 

494 47% 47% 47% — to 
89 70% 69V 49V +1% 
I3« 40 39% 39% — % 

49 15ft 15% lSVt + % 
447 34% 34% 34% + % 
488 1S% 15% 15V*— ft 
148 27% 26V 26V— % 
33 38% 38% 38V 
38 27% 27 27% 

58 41% 4lto 41% - % 
42 30% 30% 30% 4 V* 
as 7 6 V 6V— % 

6085 24V 24% 24% — % 
9»7 20% 20% 20V— to 
54 23% >3V 22ft— % 
MS 40% 399* 39%— % 

1 38 30 38 

4 36% 26% 36% 

60 28% 20 28 
192 36% 3*to 36% + % 


.9 14 1156 13% 13 13%—% 


134 48 
156 10.1 


31 16% SwAIrl 

IBV 11V SwlFor 
10% 10% SwlGos 
80% 62% SwSall 
29 19% SwEnr 

26% 18% SwtPS 
T7V 11% Soarton 
27% 15% SoeclP 
59 349* Sperry 

38 30% Springs 

43% 35% SnuarD 
72% 45 SOUK* 

24 17V Staley 

23ft 17V SfSPnf 
20V 11 SIMotT 

50% 39% StaOOti .. 
23V 9 to siPacC S .40 

16V 12V sronde* 52 
31V MV StonWk -96 
35% 2Sto Starr alt 
lift 9 StaMSe 
3ft 2% Sieego 
70 to 15 Sleretil 
12to 9% SlrlBcP 
34to 24ft SierlDe 
a% 15V* SleunJ 


a n e 7% 7%- ft 

2 50ft 50% 50V— ft 

.13 J 19 960 29V 28ft 28ft— % 
242 13ft 12% 13 — ft 
iS 4 149 18ft 17V 17ft 
74 i 471 II 80% BOV— % 

1.9 11 3 26ft 26V 26ft + % 

8.0 9 237 23% 23V 23V + ft 

33353 IS MW 14ft— ft 

145 21% 21 to 21V— ft 

3.9 9 7647 49% 49ft 49V* — % 

AM 13 14 32V 33V 32V + V 

AS 10 102 37to 37 37to + ft 

U 18 713k 69ft 68 to, 68to — Ito 

5.7 23 82 8 21% 21% 2I%— to 

IS U W 22ft av 22ft— to 
IA 13 44 12to 12to 12to 

6.1 8 3426 46% 45V 46ft + % 

2.1 9 *2 19V 19% 19% — % 

18 10 95 13V lift 13V * to 

12 11 73 30 29ft 79V— % 

IJ8 14 » S 32ft aft 12ft 

iJOaiiJ 4 i ov taft rov 
.12 17 80 3% Jto 3V— ft 

19 10 24 20 19% 19%— % 

63 9 34 11% 11% 11% + ft 

4JB 13 1240 30% 30 to 30 to — ft 

52 13 526 22% 72 72 — to 


19 16 TwinOs 

41 30 TvcaLft 

17V 13V Tylers 


27 11% 18V 18V + ft 
33S 3BV 37V 38 — % 
31 14to 14ft 14ft — ft 


1* 

2J4 M 11 
275 11J 

<0 14 15 
230 67 50 
1J8 <5 6 

■” ’-2 
2 lie 18 9 
5Jtte 5.1 10 
L64 O 13 

IS 1211004 
138 


S9% 25% UAL 1J0 
34% 36 UAL Pi 2<0 7J 
17ft 9to UCCEL 
30 3$v UOC n 

24ft I7to UGI 
25% 19% UGI Pf 
11 to BV UNCR« 

14 IQto URS 
3fU 71V USPG 
44% 26V USGS 
19% 17ft UnIFrs* 

63 46 UnltvT 

1 10V BOto uniNV 
41V 31% UCamP 
56% 32V Uncart: KO 
7ft 4ft union C 
19% 13ft unEiee 184 97 6 

40 29 to UnEltrf <50 118 

34V 25% UnEIpWWJO 129 
M 20 UnEI Bl 298 11 J 
20% 14ft UnEI pi 213 112 
26ft 71 UnEI# 272 »0.4 
n 50% uEiotH aoo i2i 

23ft a UnExpn 
52V 37v unPoc 1 JO 38 11 
115% 87V UnPCOl 725 67 
21% 13% Unlrovl .18 J 13 
70 50 unrylpl 100 111 

5V 3to UitttOr 

19% IQto UnBmd 14 

16V 9% uerdpl _ 

M% 16% UCbTVS 
36 23ft UnEnrg 1M a2 
22% 11% Ullkjm 200 9J 
30 to 21V Ulllopt 3.97 I3J 
18% 12 Ulltopr 2M 126 
M% 27 to Lf I II li pf 4.00 113 
14% 10 UllhJPt 1.90 111 „ 

25 rsv Unlflnd 40 26 9 

43% 35V Unltlnn 32 i 36 

47 2flto UJerBk I-S6 15 10 

16% )1% UUMM <0 

3 9 UPkMn 1 

38% 26% lISClrG .12 J 7 

8ft 5to USHam 
42% 32% USLeos 
40% 23 USShoe 


1J n 1280 56% S5% S6% 


163 24% 33V 34% 

47 15 15 15 

43 27% 77 27to 
61 27to 22 22ft- ft 

ISO* 25 25 25 

121 in* >0to 15% — to 
19 lift lift lift + ft 
332 36 15% 35V- ft 

S43 38to 37% 37ft — V 
13 14% !*«. 14to— % 

3 55% 55% S5ft— 1 
73 104ft 103% 103ft —1 

947 38 37V 38 — ft 

49to 48% 48V— 5 
6ft 4ft 5ft— % 
399 1«V* 18ft 19 + ft 

110*38 38. 38 +1 

31 311* 31 31 —ft 

8 25% 25% 2S% + ft 
35 19 18ft 19 + ft 

258 J# 1 * 28% 26% + ft 
130* « 66 66 — to 

219 22% 22% »V 
443 48’4 47% 47% + ft 
5 109 IBS to 109 + % 

1098 71% 21V 21V 
1180* 62 fll 61 —1 

16 3% 3% 3ft— ft 

14 449 20ft 19% 20ft + ft 

24 15% 15V 15V + to 

51 153 31 to 31% 31ft— ft 

30 46004 40 39to 3tV +«* 

4 95 21ft 21 31 

18 30to 29ft Q9V + ft 
2002 1 7% 17% 17% 

11 30to 30 30 

17 14ft 14% 14% + to 

9 78 UV 23V 23% 

4 47V 47V 47V— ft 

57 44 to 43ft 44 + ft 

40 lift 1 2ft 12V — ft 

25 TV 2ft 34* — ft 
1506 J3V 33ft 33% 

377 7ft 6V 7 + ft 

IB 34ft 33V 34ft + ft 
301 JS% 3Sto 35ft— ft 


.76 

Jt 

130 

130 


24ft I4to PapBys U 2a 21V 20% 21 — ft 

60ft 39ft PepsiCo 1-78 3.1 10 1516 571* 57ft 57ft + to 

30ft 21ft PertEI J6 2.1 14 1434 27 26% 26V- to 

9V 7ft Prmlon 1.17al<4 6 W6 .8% _8% 8ft— to 
23% 15% PervDr 38 13 17 83 MV 22% Hft— ft 

44 31 Petrie 1<0 37 14 41 37V 37ft 37ft— ft 

38% 24% PalR] 3.72a M2 14 24to 24% 26to 

17 14 PcIRSPt 1-57 9< 29 16V 14% 14% + ft 

6ft 2% Ptrlrrv -9SC27.1 286 3ft 3% 3ft + ft 

53V 33ft Filler MB IX 15 2213 OTV 40V 49% + % 

« I27» PnefpD 321 22ft 7JV 73 + to 

55 34 PtHttppr 5JB 92 a Sift 51ft 51ft ^ 

44V 28 PttJbrS M 13 23 2474 41% 41 41ft + % 

16ft 11 PtillaGI 220 1X5 4 4332 14% 16ft I6to— ft 


34 


1J8 


17 

19x27% 

26ft 

26ft 

12 




37Br llto 

tl 


45% 




9 


42% 

43ft 

42ft 

39 




13 


38 

29ft 

29%— % 

51ft 


1.10 

2.9 

B 

BOB 

38to 

37ft 

37% + V) 



152 







17% 

2 vISrorT 



3B4 

2% 

Jto 

2% 

88% 

38% Store 

A0 

5 


1751 

85% 

8S 

BS% + « 

21% 








19% 

Mft SlrfdRI 

JO 

A3 

43 

SS4 

19 

ISto 

19 + % 

n. 




101 

5% 

Sft 

5% + to 

39 


*8 


12 


35ft 

35 

35ft— ft 

i2to 

6% Sun El 



57 

10ft 

1U% 

10% 






7305 

47% 

47 

47 — to 

108% 


275 



1 

97% 

97% 

97% + % 

49ft 

40 Sundstr 

1 JO 

18 

12 

128 

48 

47ft 

47ft— ft 


11% 

7% 


37ft 24% PhllEPt <48 13< 
47U 51 PhtlE Pf BJS 115 
lift 9to PhllEPt Ml 13A 
18% 7% PllllEpl 1J3 111 
10V. 7ft PhllM 128 1X1 
126 100ft Phil pi 17.12 16.1 

79 61 PhllE pf 9J2 1X4 

74 54ft PhllE Pf 9.50 1X7 
40% 45V PhllEPt 7 JO 132 
60 45ft PhllE pi 725 13J 
XU 15V PMISub 1-37 65 
95% 72% PtillMT <00 
25ft 13V Phirpln <0 
10% llto PhllPt* 1X0 BJ 
24 22V PhIPI Pi 

28ft 20% PntlVH 
35% 23V PMA3 
34 24ft PKNG 
25% 14% Pier I 
56% 36% pilsbrv 
34 23V Pioneer 

26V 13ft PionrEi 
45ft 29% PltrrvB 
90 61 ft PitnBltt X12 

lift 9% PfffSfn 
16% B% PlanRs 
13ft 7 Plmtm 
13% 8% Playboy 
29 19ft Pleaev 
22V 14% PuooPd 
33% 34V Poland 
21 10% Porta rs 

21ft iSto PopToI 
22V 14% Portec 
21% I4M. PortGE .... ._ 
24% 18% PorGpf 260 11.1 
35% 30 PorGpf <40 13JJ 
34% 29 POT© Pt 432 12.9 
38% 38 Potftch f 56 43 13 
34 22 PatmEI X14 

25% 10ft Preml s J4 
40 28ft Prlmrk 2X0 
20% 14V PrtmeC 
35% 16ft PrtmMs XV 
59ft 50% PractG 2X0 
18% 9% PrdRsh 35 
47to 34to Proftr MO 
24to 17% PSvCol 2XO ... 

70 53ft PSCOI Pt 7.15 11J 
21 to !6to PGColPt 2-10 10J 
10% 6% PSlntJ 1X0 11.1 

9 6 PSinpt 1X4 1X4 

8ft 6to PSInpf 1X0 1X5 

71 51 PSInpf 9J4 14J 

63 45 PSIhPf <52 14.7 

6* 47ft PSInpf 8.96 ISA 

7ft 3ft PSvNH 
15ft 7ft PSNHpf 

16 7% PNH pfB 

23V 11 PNH ptC 
aft 9ft PNHPfD 
33 9V PNH ptE 
IBM SV PNH pfP 
19ft 8ft PNH pKJ 
29ft 20V PSVNM 2J8 11.1 
22ft 23 PSvEG 2M 9.7 
39 28ft PSECpKOB 11X 
20V 16 PSEGpf X17 11.1 
23to 17% PSEGPt 243 11X 
73 56 PSEGpf M8 115 

69 53ft PSEGpf 7.32 11J 
68ft 53% PSEGpf 7<0 11J 
88 49 PSEGPt 9M IIJ 

4% 2% Public*. 

15% 9% Pueblo .14 1.1 12 

9% 6 PRCem S 

17 10ft PuaelP l.» 1M 8 

21% 13 Pul teH m .12 J 19 

32 20V, Puraiot 641 3X 

10% 7 Pvro 8 


100, 35 35 35 — to 

6501 44V 63% 44V +tft 
30 10% 10V 10ft + V* 

74 38V 10 10% 

85 10% 9% 9V— % 

200*171% 121ft 121ft + ft 

TOO* 77ft 71 77 

1250* 71 49% 49ft — ft 

4910*59 58% 59 +1 

640x 57ft 54% 56 to— V 
_ 13 86x30V 19V 23%—% 

4J 10 2714 84ft 83ft 44% + to 
2J 14 82 24% 24 24% — to 

5248 12% 12 12 —ft 

947 23ft 23% aft + % 
137 25 24V 24V— M 

172 a 32% 33 + to 

TO 30V 30ft 30% + Hi 
447 23% 22% 22V— ft 
343 50% 50V 50ft— to 
144 24% 24ft 24% 

4 15% 15% 15V— ft 

785 41% 41 41 — % 

2 B2% 01 V B1V — to 
ZTK 17% 12 12 — Ml 

447 16% 15ft 15ft + V 
32 10V 10ft I Oft— % 
52 9 6ft BV — % 

1 20% 20% 20% + % 
568 14ft 14% 14% + % 
364 31% 20ft 20V— V 
40 17 Ilf* Iff* 

12 17ft 17V 17V — 

09 22% 22ft 22Vj — % 
380 20 Wft 19V — % 

5 23% 22fk 23% + ft 

14 34 33V 33ft— ft 

a 33% 33% 33% — ft 
44 33% 32ft 33 + % 

339 30ft 29ft 30ft + ft 
91 24% 24 24 — % 

115 38V 38% 38ft 
8(4 19% lift 19 — to 
_ 215 33% 33ft 32%—% 

AS IS 1119 57ft 57% 57% — ft 
20 22 66 17% 17% 17% 

17 41% 40ft 40% — % 
441 21% 21 21% + ft 

100Z64V 64V 64V— 2% 
19 20% 20% 30% + ft 
587 9ft 8ft 
10801 8% 8% 8% -ft 
42SOX 8 ■ I — ft 

ISO* 66 45V 65% — % 


6% SuriMn 
7 SunMpf 1.19 1X9 

38% 33V SunTrst 

14S SuprValu S 
48% »ft SuPMfct <8 1.1 13 

17% 14 Swank .90 XV 16 

21ft 14% Svoron 1X6 6A II 

15V 30V SYtrnpf 2M 73 

lift lift SvmsCp 16 

45% 41ft Syntax 1.92 32 14 

.... j 17 


53 1050 
505 


40ft 30V SV900 


-36 


6% 4% 4% 

7ft 7ft 7ft— % 
191 34% 34ft 34% — ft 

332 19% 1« 19% — % 

112 45% 44% 44% — ft 

33 15ft 15% 15% — % 

155 17% 17 17 — % 

10 33% M 33 to + to 

48 13% 12V 12V— ft 

098 59ft 59% 59% — % 

206 38% 38 38 — ft 


3-36 


AO 1A 11 
J8 X 9 
232 JM 9 
15 

1X4 XI II 
IJ4 5X 5 
•I7r l.l 
1.20 2.9 II 
2J 


JO 13 17 
-14b 1J 16 
12 

.94a 44 13 
.60 42 33 
1X0 13118 
M 3 26 

<Q IX 38 
1.90 94 8 


73 9 
IX 18 

“ 15 

J 29 


J 

74 9 

IS 

135 67 9 
1X0 JJ 15 
3X0 4X 10 


50% 30% TDK 
36% 25% TECO 
12ft 7ft TGIF 
21ft 12 TNP 
26% 18ft TRE 
81ft *4ft TRW 
7% 1ft Toe Boat 
87% 52ft TatIBrd 1.16 U 16 
19% 12ft T allev .IDs S 14 

21% 15 Tolley pf 1X0 A3 
Bl 54% Torn bra X20 
36 a to Tandy 
15V 12V Tndvcfl 
68% 54ft Tekfma 1X0 
SV. 2ft Tel com 
J02to22SV Teldyn 
24 14V Telrate 42 

41% 29ft Telex 
40% 29% Tempi n 44 
45% aft Tmnco 193 
34V* 20 Terovn 
IS 9% Tesotta 


27ft 20% Tesorpf X1A 98 


<1 14 


14 14 
6 
10 

2X 22 
10 

1J 9 
73 14 
12 
*J 


X4 13 
94 5 


II 


40to 32% Texaco 
38V 31 to T.A8C 
46% 30% TenCm 
39 26% Tex Eat 

34% 25 Texlnd 
147V 86% Tex Inst 
3V I Texlnr 
a% 15% TexOGs 
35% av TaPoc 
31% 23% Tex Util 
4% 2 ratal lit 

59V 30to Textron 
65 32V Textrpf 2X0 

lift 5ft Thack 
S 15ft Therm E 
43% 30ft ThmBat M6 


3X0 

M2 <1 9 
1X6 <0 7 
230 63 9 
J0b2J 13 
2X0 20 13 


.18 

<0 

2X3 

IJ0 


19ft 13V Thom In 48b 3.9 10 


T30z 58 
300, 58 
3 390 7% 

1300, 15 
28 16 
11 24 

r 

21 

B 263 26% 
7 2532 29ft 
100,37 




— ft 
SB 90 — 3V 
7% 7ft 
14% 14V — to 
15% 16 

23% 24 +% 

21 2! 

2i to aft + ft 

18 lift + ft 

I9to 19ft + to 

3to&* + £ 

37 37 - ft 

38 19% 1»ft 19% + ft 

21 22ft 22V* 22ft 
1110,72V, 70 70 -2 

^"zv %o "zvT’v 

61 14% 14% 14V 
5 6% 6% 6% + ft 

344 15V 15% 15% 

72 15ft 14% 14V— to 

87 2lft aft 21ft— ft 

41 7% THi 7fc 


24 T3U TTimMed <0 
22 ft 17 Thrifty 40 XI 
24% I3V Tiewtr .90 42 
10 ft 5% T tear In 

61V 40 Time 1X0 1J 
23% 14% Tlmptx 17 

58ft 34ft TtmeM M4 24 15 

Sift 44 Timken IJOa 14 23 

9% 4% Titan 

11V Bft Titan Pi 1X0 

39ft 24% TodShP 1 JO 

* lto 15% Tekhms <0 ... 

1 % 14ft TolEtffc 2J2 12X 
29ft 24% To I Ed pi 232 114 
30to 22ft TalEdpt 3.75 1X1 
28 20% TolEdpf 3<7 13X 

33ft 25% TolEdpf <28 1X4 
20% 14% TolEdpf 136 127 
18ft 13% TcriEdpf 2J1 124 
30 B% TankOS ■ 

53% 26 TootRol 48)1.1 1 
52ft 24ft Trchrak 1X0 


<0 


32 




10 


28 

14 M 


1 5 J 



124 

25 

13 

539 

*8ft 

47 

t 1 .. 


16% QuakSC 

JO 

W 

20 

166 

22 

am 

21 % + (* 





20 

71 

79! 

/* 




IJO 

53 

11 

M 

30#t 

38ft 

3M6- « 

26ft 

14% QkRell 

-24a 1.1 

14 

2 » 

22 % 







R 




1 


6 % RBInd 

X4I 

5 


12 

7% 

7% 

7% — ft 


33% RCA 

1X4 

25 

12 

1653 

*3 

42to 

42% 


27% RCA pf 

350 

92 


1740 

38 

36ft 

38 



<08 

<0 


1 

W 

99 

99 



2.12 



70* 

30% 

30to 

30% — Hi 



355 




37% 

3/to 

37% — to 



JO 

25 

15 

l« 

8 % 

Sto 

8 ft— to 






29 

4% 





56 

JJ 

10 

S3 

18% 

18ft 

18% 





10 

805 

Mto 

I3to 

13% — % 



1X0 


M 

851 

42% 


42ft + ft 





5/ 


Bft 

/% 

8 + to 



34 


10 

9 

17% 

17% 

17% — ft 


2ft Rangrt) 




628 

3% 

3ft 

3% 



-44 

4 

26 

162 

/J 


73 + % 






19 

12 % 

12 % 



36% Rayttm 

150 

32 

12 

4/4* 

49% 

48% 

49% + ft 



*0 



116 






12-1 


15 

l/% 

1 /% 

17%— ft 



IJRelOJ 

10 

1 

12 % 

12 % 






12 

133 

10 % 

10 ft 




JO 

35 16 

184 

8 ft 

8 % 

8 ft 





35 


"fi 


»»— * 

1 % 

27%% 

JO 

2.1 

13 

rs 

7B 

*t* 

37% 

to 

37% 

37ft— ft 





5 

932 

10 % 

10 % 

10% — % 


lto RepAwl 




46 

2 % 

2 % 


12 % 


JO 

35 

9 

140 


8 % 




1J4 

35 

8 

X 

46% 

46ft 

46% 




>S 

i/ft 

> rxi, J 

5?ft— % 




5-0 

7 

246 

32% 

0 ’ ■ 

32ft— to 



JJ 

15 


BAx 21 ft 


20 % — % 



JO 

12 

24 
















1J4 

44 

M 

4299 






./u 

38 

U 

at 

23to 

23 

23 



A* 

2 A 

10 

293n 15% 

15% 




SX 

7 

3470 

2 Bto 

r>- -1 




BJ 


1 

48% 

T \ . J 


41to 


1X0 


9 

286 

36% 

1- J 



26% RdiVcfc 

MS 

35 

12 

2*54 

3Bft 

| ’Zj 




501 

48 


12 

22 ft 

22 % 




JO 

1.9 

16 

1221 

26 

25% 






9 

IIS 

4 

J% 




1.19 

33 

8 


Mft 


34 — ft 



1J0 

55 





2 M- V. 






164 



11 





* 

138 

22 to 

J 




244 

65 

10 

19 

3/% 

7*yJ 




1.19 

17 

10 

1429 



40% + ft 


55% RohmH 

2.20 

33 

11 

109 

6 / 

iSTl 


62% 




10 







JO 

IJ 

31 

68 

25to 

y \ 




.10 

J 

25 

1697 

26% 


26ft — to 



J6 

35 

17 

230 


u% 







20 

2 ft 








2 S, 

J4Us 


Mto + v. 



1.12 

33 

16 

423 

34 


33% — % 



J2 

tJ 

SO 

1790 

8 % 

pr.r^jj 

8 ft + ft 




7 

2885 








16 

1442 

13% 

13ft 

13% + to 



.9* 

IJ 

18 

67x54 

5Jft 

53% + % 





14 

*8 


2 lft 



f5% KnTog 

36 

JJ 

>8 

39 

19% 







11 

20 

78ft 





JO 


1 


29ft 

JS% 

28%— % 



56 

25 

16 

& 

24ft 

44ft 

26% — ft 





5 

37 

18 

17% 

17ft— ft 

13% 

11% Rymer ptl.17 

94 


20 

12 % 

12 % 

1216 — ft 

1 ■ - -* * 


17ft 10 ToroCo 
5 I Totco 
17% 0% Towle 

41 to 25% TovRUs 
28% 17ft Tracts 
23 8ft TWA 
16 12% TWA Pi 125 14J 

34ft 18ft TWA oIB 125 64 
32% 24% Tronsm 144 SJ 13 
aft 16ft Tran Inc 122 nix 
14 10% TARItr 1X0 7J 64 

aft 18V TmCda nl.12 X9 8 
57% 44ft Traraca Hit 4.9 9 
52% Tmsepf 3X7 23 

19ft TronEx 134 11 J 

13ft 8 Traroen 7 

96 77% TrGPpf 844 9J 

13% 6% TmsOh 10 

3A% 29ft Tnxtwy 1X0 57 9 
41ft 28 Tmwld . M 
23% 12 TwIdwtA 


31 a 34% 34% — V 

331 31ft 31 31ft— to 

73 10% 10 10ft— to 

37 19% 11% 18% — V 

159 23V Oft Mft— % 
138 76% 75 75V— % 
61 2to 2ft 3% + ft 
Ml 79% 79 79 — % 

572 19ft 18% 19% + % 
17 aft a 21 ft + V 
115 78% 77% 77 ft— V 
16 1430 33 to 37% 33 
13 113 13ft 13% 13% — to 

570 63% 43 63 — ft 

34 3% 314 3% 

128 251% 250% 250%— lto 
264 16% 16ft 16ft— ft 
603 40% 40to 40ft— ft 
59 38to 38 38 — % 

664 40% 40% 40ft— % 
489 22 L J2to 22 to— ft 
127 9% 9% 9% — ft 

21 22% S 73 — ft 
85 32 1577 3$V 35V 35% — % 
96 31% 31% 31% + ft 
114 32ft 32% 32% + ft 
488 32ft 37ft 32ft 
15 29 2Bft 28ft— % 
605 99ft 97% 98ft — ft 
M2 M 1 3ft 
920 1SV ISVj 15V, 

12 30 29V 29ft 

734 29% 29 29 — % 

24 3% 3% 3ft + ft 

816 52ft 51 Slto— ft 
11 55% 55% 55% — ft 
43 10% 9ft 9ft— ft 
317 33 to 32 ft 32V + % 
179 34V 3»ft 34ft— to 
20 17% 17% 17% — ft 
31 lift Wft 15V— ft 
317 19% 19% 19ft + ft 
720 14ft 14V 14% + ft 
2640 bft 4% 4V— ft 
17 15BO 60ft 59% S9%— % 

644 53% 52ft 52to— 1 

'3 -S5 % 

37 10% 10ft 10% 

2b 3ZV 32% 32H— ft 
20 18ft 17% 17ft — ft 
366 19ft 19ft 19V 
46 27% 27% 27V— ft 
16 28% 28% 28% + ft 
20 26V MV 26V + ft 
24 32 31ft 33 -ft 
3 18% 18% 18% 

9 17ft 17to 17ft + ft 
219 77% 27% 27% — % 
178 45% 45ft 45ft— % 
2097 45% 44 44ft — lto 


1J 10 
IJ 16 
BJ 7 

3.5 II 
17 

99 
76 
17 16 


23 10 

14 14 .. 

31to 22% ussrrei 130 <1 19 2774 29ft. 29% 29%—% 

lift 4*2 ussiiii ixiaiae « S* + « 

142ft 115V USStlPTt2J5 9< 'S'* ’St - 

31% 24ft USStl pt rrc 7J 332x 30% 30 30ft — to 
39% m USTot) 1JI <9 12 265 34% 35% + ft 

84% 60 U Sweat 5J2 75 J 642 7T% 76% 76V — V 

13 6% UnSIck 38 4 8% (ft 8% 

45 34 UnTech M0 X4 »1 2010 O 41ft 4IV- to 

39to 3) to U Tct, pi 235 69 ** 

25 18% Uni Tel 1.92 8.7 6 1249 22ft 21V 22ft 

- W 1 |J8 7X 12 a 18ft Kto IBV 

20 J 16 49 24to 23V 34 — ft 

n O I 20x19 1(9* 18% — ft 

1.12 AA 10 36 25ft 25V 2SV 

1X0 44 B 48 21% 21% 21% — to 

IJOA! 8 2393 29% 28V 29 — ft 

156 23 21 540 114% 113% 113% 


a iSto uwr 

33% 21 Unttrde 

20ft ISto unlvor 

28 21% UnluFd 

23ft 17 UnLeot 

53 26ft Unocal 

122% S3 Uolohn - . 

43 2S USLIFE 1X4 2J 10 

10% 8ft U&JfeFd 1X4OI0X 
36% 20% UtaPL 232 9J 13 

27% 22% UIPLpf 2JO 106 

28ft 23% UIPLPf 2.90 107 

23% 18ft UtPLpt 236 7 03 

20 lito UtPLpf 2X4 105 

a 16ft UIINCO M0 b 5.7 8 

a 18(6 urllCopf 2<4 108 

24V 18V UIIICo przxl 108 
3 5ft 29ft UIIICo pt 4.12 12X 


60 361* 36ft 34V 
12 10% into 10% + ft 
245 25% 24% 25 
2 26ft 26ft 26ft + ft 
8 27ft 24% 27ft— % 
6 23 221* a + V 

2 19V 19ft 19ft — ft 
18 24% 24ft 24ft — ft 
2 Oft 22ft 22ft 
8 24to 24ft 24ft -e ft 
5 34% 34ft 34ft— V 


USl Futures 


Season 

High 


Season 

Low 


Aug. 12 

Open Hlsb Low Oaea Ota- 


Grains 


WHEAT ICBTI 

XOOO oil minimum- dollars per bushel 


3.76ft 

2J0ft 

S«« 

285ft 

2.00 

285% 

189 

+X3to 

353ft 

197ft 

Onr 

197% 

3X2% 

2.97% 

3X1% 

+JD% 

37*ft 

193ft 

Mor 

100ft 

120% 

MOV, 

3X4% 

+X3 

4.0? 

284 


191 

1(6 

191 

195ft 

+X4% 

3.72ft 

255 


169 


1*9 

173ft 

+X 

3J5 

172ft 

Sop 

174ft 

175ft 

174ft 

226ft 

+X4 


E st. Sales _ P rev. Sales UL545 

prev. Dav Open tat. 39033 up 524 
CORN ICBT) 

5X00 Du minimum- Hollars per bushel 
jjlft 235% Sep 2JBU 339 236% 237ft — X0V 

2.95 232to Dec 232% 233V 23t% 233ft +XBV 

X10 331 Mar 331% 333ft 330ft 13216 +X1 

3. 71 to 135 May 325 137 2MVt 337 +Xlto 

1W UTj. Jut 2J4V 1J7 334% 336% +JRft 

2JAft 325 Sep 326% 336ft 125 226ft +XVft 

ZJ8V 320to Dec 123ft 2J4 122 to 124 +X1 

EH. Sales Prev. Sales 21 Jll 

Prev. day Open int.l20x32 no 6% 

SOYBEANS (CITI 
5X00 bo minimum, dollars per bushel 


756 

5.16 


5X1 

S23ft 

£17 

S22V, 

+X3 

0.71 

STO 

Sap 

5X9 

SI6 

SX9 

ilSto 



5.13ft 



SJBto 

ST2ft 

£19% 

+X<ft 

679 

S22 




£21 to 

5JB91 

+XSto 

752 

S3Ift 


SJIft 

136% 

SJOft 

136% 

+x*% 

7.79 

5J7 

Moy S37ft 

soft 

£37 

5J3ft 

+X6ft 

tX 

SAOto 

Jul 

5J0 

S*6 



+X5» 

6.74 



S37 

S41 


SMK, 

+X5 

6X8 

£35 

Sep 




£36 

+XI 

632 

S28 

Nov 

SJOft 

£33 ft 

SJOft 

£33 

+X3 


Est. Sales Prev. Sotos 24.714 

Prev. Day Oaen Ini. 6U17 qHMS7 
SOYBEAN MEALfCBTI 
1 00 tons- dollars per ion 

18000 1T7J0 Aub 12150 I22J0 121X0 12280 

17950 12060 Sep 122X0 12450 122X0 124X0 

18050 12130 Oct 12430 126X0 124X0 125X0 

184X0 136X0 Dec 12750 130X0 127 JO 12930 

16100 177X0 Jan 129X0 131X0 129X0 U050 

70650 130X0 Mar 13150 113.50 13150 10130 

16250 17250 MOV 131X0 I0S80 133X0 135X0 

167X0 I WOO Jul 13100 138X0 135X0 138X0 

14150 13550 Aug 13850 

Esi. Sales Prev. Sales 1U» 

Prev. Dav Open im. 41 Jit ah 268 
SOYBEAN OIL (CRT) 


+J0 

+40 

+JD 

+WD 

+1X0 

+1J0 

+250 

+M0 

+100 


40X80 ths- dot Wrs per 1 DO Un. 




-JS 

31X5 

2250 

Aug 

2110 

2115 

2254 

22X3 

31.10 

2250 

SeP 

71 rw 

2333 

22J1 

2188 

—35 

3037 

22-90 

Ocl 

22.95 

2X15 

22-65 

2189 

— JB 

29X5 

22OT 

Dec 

2185 

2115 

2165 

22.9* 

— X7 

29X7 

21 TO 

jan 

2195 

2330 

2235 

21X5 

-.10 

2850 

23.15 

Mar 

23X5 

2335 

2290 

7135 

— -07 

27 JS 

23- 25 

May 

2335 

23J0 

•nm 

zuo 

—.10 

2535 

23J0 

Jul 

2135 

23JO 

rins 

2125 

—.10 

25.15 

2330 

Aug 

2330 

2330 

2X10 

2X10 

— .10 

24X5 

23.15 

Sep 

23-00 

Z33S 

nr, IV) 

nn nn 

—.15 

Est. Sales 


Pr«v. Sola 15J90 





41 

14V 


4ft 

28to 


22% VP Carp 1.12 IX 10 
5% valera 

14 Valor p< 144 119 

2to valeyln 

19 vanDrn .92 IX 7 
2u varco 
10 5% vorcopt 

46ft 26V vorlon 
13% 9% vara 
25% 17% Veeco 
17 3% Vertao 

11% 9% VestSe 


J6 9 20 

40 U X 

<0 2.1 IS 
19 

_ IJDalLO 

51ft 29V VMCOm <8 ID 22 
83 63V VaEPpf 8J4 11J 

91V 71ft VaEPpf »JS 11.1 
70ft S3 VaEPpf 7AS ia9 
27% 13ft vishavs 16 

45ft 30% vomod 12 

83% 66ft VulaiM 2X0 14 13 


204 

560 

69 

9 

9 

181 

2 


36% 37V 37V— % 
11% 11% lift— V 
24V 24 74V + % 

3 2ft 2% 

24 24 24 — ft 

Jft JV 3V 

10% 10% 10% + % 


145 30ft 30V MV— % 
48 12to 12 12 — ft 

82 19% 19V* 19V*— ft 
102 9to ( 9V— ft 

74 11 10% I0%— ft 

1863 491* 49 49%— ft 

700* 79 79 79 —1 

40* 88 (8 88 —1ft 

200Z48V 68V 48% 

6 24V 24V 24V 
4 43 to 43to 43 to — fe 

71 82% 82% 82ft + ft 


W 


31ft 23% WICOR 2.42 8.9 9 
49 36ft WabR Pf 450 10J 
38% 25ft WaclHV 1X0 3.1 9 
23to 16ft wockht 50 2J 
10V 6to Walnoc 
56% 37to WalMrt JB 5 75 
30 to 18V WaJgras <4 IJ 16 
25V 17% WkHRsOMO 
39% a Wo ICS v AS IJ 17 
3((m 25ft Wall Jm 140 U) 7 
26% 17V Women Si It M 
32% IBV wrnCm 


52 15 19 
Jt 1< II 
JO 2.1 10 

JOe IX 11 
35 13 16 
2<0 <4 7 


93 

A0 ■ 
17 11 
5 


34% 26to TwkfPf 
49to lift Trawler 
58ft 50% Trawpf 
27% 23 Tricon 
7% Trlalns 


15V 15% 15% 

422 4ft 3% 4 
18 I Oft 10ft I Oft — to 
1467 37ft 37to 37V — V 
434 20ft aft 20ft— to 
22% 22 22ft— % 

ISto 15 ISto 
34to 33V 33%— % 
28V 2BU, 2Bto — to 
30% aft 20% + ft 

12% 12V 12V— ft 
19% 19% 19ft 
305 44% 44% 44% + ft 
0 54 54 54 

137 aft 21ft 2lft — to 
IS 8% 6V BV— ft 
50, 93% 93% 93% — to 
45 11 10% 10% — ft 

49 31V 31V 31% — ft 
13 13 203 39% 3f to 39ft + to 
93 » 30V 31% + % 


10941 
171 
34 
717 
36 
21 
2 


2X0 62 
2X4 45 10 
<16 73 
353el35 


31% 

22% TriaPc 

1X0 

3-5 

5 

17 

49ft 

29 Tribune 

JU 

IJ 

I* 

as 

6to 

4 Tricn tr 

J9e 9J 


J2 

8% 

5% Trlco 

30 

11 

13 

85 

18% 

to Trlmy 

-50 

JJ 


317 

25ft 

13% TrltEng 

.10b 

J 

36 

55 

14% 

Bto TrltE pi 

1.10 

BJ 


M 

4J% 

30ft TocsEP 

MO 

IS 


m 

Mft 

9% Tultex 

J4 

10 

16 

Wl 


3 32% 32ft 32%— to 
602 44to 43ft 44 + ft 

6 54 54 54 

110 MU. 26 24ft 
33* 19% 19 19% + % 

28V Mft 26V, + to 
44% 44ft 44 to— % 
5to 5ft Sto + ft 
6% 6% 4%— V 
14% 14% 14V — ft 
19% 19V 19% 

12% 12% 12ft— ft 
37% 37% 37V— ft 
15 14% 14% — % 


Soft 37ft SCM 2X0 35 15 

12ft 9% $L Ind 33 15 10 

32V 19ft SPSTec JO 25 14 

1<% 15 Sabine X4 X 35 

21% 16 SotmRr 246ct<4 

70% fZto 5 fades JB 15 17 

lift 5% SfgdSc 30 

2% lto StgdSwf 

38% 23to Sal Kin 1 <0 1.1 25 

34% 24% Sofewv 

35 24ft Sage 

23 16% StJaLP 

11% 9% spoui 

9% 3% v[Sa lent 

3SV 24ft SallleM .16 5 15 

28% 19 SDIeGS 2J4 85 9 

9V 6V SJuanB .92e 9J 11 

49V 31 Sonar 56 15 18 

»% 20 SAnlrRt T.94 75 13 

35% 23% SFeSaP 1X0 


150 
JB 
132 85 
TJ0 105 


447 56 55 35% + ft 

10 lift 11% lift— ft 
5 30% 30% 30% 

71 15% 15to 15to — ft 

353 17V 17ft 17V 

153 15ft 18% 15% + ft 

a n io% io% — u. 

40 2 3 2 

_ 38 37to 36% 35% — 1 

5.1 10 1106 31ft 31ft 31ft— ft 
2X 12 174 24% 2bft 26% 

“ ~ 22 2DU TO 20to + Mi 

a n% nv n% 

160 6% 6ft *ft 

4% 33ft 32% 33 
231 26 2SV 24 
114 9ft 9% 9% 

43S 36 35ft 35ft— ft 
77 25ft 24V 24V— to 


<6 28V Santt.ee 154 16 11 

54ft 50V SaroLpf 3X1* 75 
3SV » SatWet 1x0 4X 15 

19% Mft Squire jo ix so 
22to 15V SbvElP UO 14 7 
23ft Mft Save A 134 65 
12ft 9% SavE pf 128 11J 
9ft 5 Savin 
I3to 9% Savin of 150 12X 
Mft 19% SCANA 114 85 9 
52ft 33 SchrPIg 153 35 13 


12 14 1678 32ft H% 31 %— ft 


559 40ft 40 40ft + % 

300 51% 51% 51% + to 

10 34V 34ft 34% + % 

SO 19ft 19ft 19ft— to 

67 19ft 19 19 — ft 

23 2016 20 to JOto— J 
21 UV lift lift 
111 7ft 7ft 7ft— to 
5 12ft 12ft 12ft 

766 25% 24% 25ft + ft 

fa 47% 47ft 47ft— ft 


m* 34ft Sew mb UO 12 JB 2436 38ft 37ft 37% +• ft 


13% B SdAtt 
33 22ft Scoalnd 
61ft 48V ScaiFel 
44ft 20% Sen HP 
14ft 12ft SwtlYS 
43*. 23to Scow 111 
45 23ft SenOit 
13 10 Seacrof 


.9 18 311 13% 12% 13 
14 14 1940 31% 31% 31V 


10 
10 10 
19 10 
14 
IX 10 


MS 57 54V 56% + % 

OSS 42 41ft 41ft— ft 
75 13V 13ft 13ft— ft 
44 42 42 42 + % 

156 42to 41 42 + % 


27ft 17ft SeaLnd 
Sft 3ft SeaCo 
44% 35% Seearm 
21% U Seoul 
31% 22to SealAk 

32% 22ft SealPw 

65ft 45V SeartrG 1X0 
39ft 79V Seam 1.74 
31% 23% SecPocs 1J4 


50 


1X0 


iij 

JJ 

12% 

17% 

12% + 

% 

133 

It 

ISto 

iSto 

15ft — 

ft 

133 

33 

Mft 

15% 

15ft 


23 

*46 

37% 

211b 

21ft — 

to 


137 

4% 

4ft 

4% — 

ft 


M 12 440 40V 4dto 40% — % 

19 54 17ft 17 I7to + to 

M W JB « 30% 30V + % 

17 B 325 27 76V 26V 

15 IB 1106 65 M% 64% 

5.0 » ?TTI 35ft 35ft 3Sto 

<» 7 577 27V 34% 27 (. + ft 


Soles flora are unofficial. Yearly high* and laws reflect 
the previous 52 meks plus the current week, but nut the latest 
trading day. Where a SMit or Stock dividend amounting to 25 
percent ar more has been pa M. the yeart hJgtvfow range and 
dividend are shown for the new stuck only. Unless otherwise 
noted, rates at dividends one annual disbursements based on 
the latest declaration, 
o—dtvkiand also extra (•), 
b — annual rate of dividend plus stack dividend, 
c — UoutaottaB dividend. 

eW— called, 
d — new yearly law. 

e— dividend declared or oald In preceding 13 months, 
o — dividend In Canadian funds, sublect to 15% natwesldence 
tax. 

I —dividend declared otter spIII-up or stack dividend. 

J — dividend paid this year. omlttM, deferred, or no action 
taken at totes, dividend meeting. 

k— dividend declared or paid this year, an accumulative 
Issue with dividends in arrears. 

n — new Issue In the post 53 weeks. The highiow range begins 
with the start at trading, 
nd — next dav delivery. 
p/E — price-eamlnee ran* 

r— dividend declared ar paid In preceding 12 months, plus 
etack dividend. 

S — stock BMII. Dividend begins with dale at split, 
ski— sales. 

t— dividend paid In stock In preceding 12 month*, estimated 
cash value on ex-dividend or ex-dlStrUhitlon dale. 
u — new yearly high, 
v— trading halted. 

vl —In bankruptcy or receivership Or being reorganized un- 
der the Bankruptcy Ad. or securities assumed by such com- 
panies. 

wd — when distributed, 
wl— when issued. 

** — with w arrants . 

x — ex-dividend or ex-rights. 

xins — ex-dlstrtbution. 

xvr — without warrants. 

y— ex -dividend Orta sales fn full. 

y kl — yield. 

z— sales Tn Full. 


44ft 30ft WarnrL MS 19 13 2041 
aft 15% WEonGS 1<6 LI 
28to 18% WsilNOt 1X8 63 7 
Mft T6to WBtWVI 248 10J I 
64% 37ft waste 
38ft 20to Watkjn 
12ft Bft WavGas 
12ft 4*. WeanU 
23% 15ft WcbbO 
44ft a WeteMk 
42to 37% WefKF _ _ . 

50to 41 WelFpf 4J7e 93 
79V. 23% WelFM 280 1L9 11 
19ft 12 Wendy s Jl IJ 17 1050 
27U 17 WestCo AB 1.9 14 31 

45ft 34% WPenP PtASO 105 
45 M WMPTP 220 SA 14 
14 to 9% WStCtTo 1X4 30 

8 2% WdAIrL 5 

3ft ft WlAIrwt 
23% (% WAIr pf 3XO LB 

Mft Bft WAIrpf 214 9.1 
Bft 3ft WCNA 
51 32 WCNA pf 735 1L2 

aft 5ft W Union 
S2ft 24% wnunpt 
5% 2% WhUpfS 
14ft 4% WnU PIE 
18ft 5*j WUTI »tA 
36% 24 WsME 1X0 
41ft 34% Mtastvc M2 
34 25% Weverti UO 

44% 35% Weyrpf 280 
57% <3% wevrpr <50 
Mft 6% vlWhFll 
Mft 14% vlWPItpfB 

38 10% vlWhPIt Of 

50ft 39% Whlrlnl 200 
Bft 25% White 1 JO 
45% 36% WMICpfOXO 
34% i»to wnttehi 
24ft 14% vmiitak jo 

1 2 to 4% WleWdt 
15ft 8 Wlltrd n 
B% 24to William Mo 
Sft 2 wiimEI 
8ft 6ft WlishrO .10 
38% 26 WinDfx \36 
20% 9% Win nbg JO 

11% 5ft Winner 
•to 3ft White rj 
40ft 27% WlseEP 248 ... 

90 70ft WISE Of LOT 102 
79 61 WISE Pf 7J5 102 

40% 24ft WlscPL 236 73 9 
39% 29 WNCPS 284 7 J f 
40ft 30V, Wiles 148 U t 
!5to 9% wglvrW 36 2X 
40 33% WMWth 2X0 <5 10 

47 49 WOlwpf 220 3J 

4ft 2% WrWAT 
81ft 54% wrtaly IJOa 23 14 
4% 2ft Wurttzr 
lift 10% WvleLb 32 
23% 15ft Wynns JO 


32 27% Z7ft 27ft + Mi 

450, 47V, 43 42 — to 

152 32% 32% 32% 

a 21% sift aft— % 

40 7% 7% 7%— (4 

822 50to 49% 50 + % 

966x 25V, 24% 25 — to 

67 23% 23ft 23% 
a 34% 36to 36ft— to 

121 35 34% 34%— to 

315 Mft Mto 24% — (4 

3555 79% 29% 29% — to 


37ft 37ft 37ft + % 
55 20ft 30 ft 20% + to 
17 25ft 25% 25% — V* 
385 23 22% 22% 

6K 40to 59% 59% — % 
ft ZSto 34% 25 + to 

46 9ft 9to 9% + to 

10 4% 6% 4% 

118 20% 30% 20ft— to 

14 44ft 44to 44ft — to 
352 55 54% 55 + to 

237 50ft 49% 50ft + to 
a 25% 25% 25ft— to’ 
17ft 16% 17 — to 
_ 26 25% 25% — to 

100, 43 a 43 —lto 
130 41 40% 40ft 

14 13 12% 12% — to 

1559 7% 7% 7ft — to 

746 2% 3ft 7ft— ft 

11 a 22% 27%— to 
Ifl 23ft 23% 23ft + to 

606 3% 3% 3ft 

6 40 3fft 39to + to 
a 77 14% 1}% 13%— ft 
4 36ft ISVr 34% + to . 
169 7ft 4% 6%—.% 1 
■ 291 -Oto llto 12 —ft 
BA 15 14% 14% + ft 

16 10 3165 33% 33% 33%—% 

14 9 140 3(to 30% 38% — % 

912 2Bto 27% 27% — % 
77 39% 38% 39ft— ft 
6 49th 49 49 — to 

55 Bto 8ft 8ft + ft 

ICC, 22 22 22 —1ft 

200, 19 18ft lift— % 
713 47ft 47 47 — to 

Hi 3 1 to 30% 30to— to 
2 42 4)% 41% — ft 

72 3f% 3fft Mft— to 
148 24% Mto Mft + V* 
57 llto llto lift— to 

50 12ft 12% 12% — ft 
<9 15 1914 2STV 28ft 21ft + ft 

51 4% 4% 4to— % 

62 b% 6% 4W 

I a 35ft 34% 34% — % 

378 lift 11 lift 

sa 6ft ito 4to— to 

44 7to 7to 7% 

489 Mto 34% 34% 

60, 97 67 f7 

4)0* 74ft 74to Wft— V. 
121 34% X 35% + % 
135 38to 37% Mft + % 

55 36 35% 35% 

245 12% 12 12% 

749 44% 44 44% + ft 

1 43 41 43 — ft 

83 ito 4 4 — to 

32 79% 79% 79% — ft 

II Sto 3% 3ft + to 

42 17% 13% 17to— ft 
30 10% 10% 11% — ft 


A7 a 

7J 

93 


43 10 

<9 

7J 

12 
2A 12 

4X 

13 


IJ 14 
5X 13 
IJ 10 
204 

7J I 


Prev. Day Oaen lot. 52X53 an 746 
OATS ICBTI 

5X00 bu minimum- doi lors per bushel 
1.79 1.16ft Sen t.18 1.1 Bto 1.17% 1.17% — XOft 

1.82ft 124 Dec 124ft 125% 124ft 125 

M7% 126% Mar 126% 127% 126ft 124% 

M3 127ft May 128ft 128ft 127% 128 

120ft 121% Jut 128% 12B% 128ft 128% — XOto 

Est. Soles Prev. Sales SM 

Prev. Day Open Ini. 3.959 up 54 


Livestock 


CATTLE (CME) 
40X06 lbs.- cents per lb. 


67J7 

50.72 


55.15 

55X5 

54.90 

55.17 

—.18 

65.90 

SX65 

Od 

saxo 

5BJ0 

57 JS 

58X0 

—AS 

67 J5 

S5.15 

Dec 

59 JO 

5935 

59.15 

5935 

—JO 

67X5 

5600 

Feb 

60.10 

*040 

59 JO 

<8.15 

— X7 

67X7 

57 JO 


61.15 

6137 

61X0 

61X5 

— 32 

6635 

58.10 


A9M 

6235 

61-95 

62.15 

—.10 

65X0 

5X70 

Aug 

6135 

6135 

4135 

61X0 



Est. Soles 13.141 Prev. Sates 2 MM 
Prev. Day Open Ini. 4IJ62 off 1X57 
FEEDER CATTLE (CME) 


44X00 lbs.- cent* per lb. 
7X70 saxo Aug 

*530 

t£B0 

6120 

6SJ0 

+35 

73X0 

57X5 

Sep 

6435 

453S 

6*55 

4535 

+J0 

7717 

57.15 

Od 

6430 

6632 

64X0 

6A67 

+30 

7330 

5830 

Nov 

6537 

6630 

4530 

66.17 

+J0 

79.60 

6X60 


66.90 

6735 

66.60 

57.15 

+35 

7X55 

61. 10 

Mar 

67.10 

6730 


4730 

+.15 

78J5 

*1.15 


47-H 



6735 

+.15 

6625 

*130 

May 

66-10 

46.10 

44X0 

46.10 



Est. Sales 2.133 Prev. Sales 73*2 
Prev. Day Open ini. L012 otfT&S 
HOGS (CME) 

30X00 lbs.- cents per lb. 


5*37 

*1.97 


4X65 

43X5 

4X25 

*2X2 

+.15 

5135 

37X2 

Od 

37 JO 

38-50 

37X0 

38. 12 


S0JS 

39 JO 

Dec 

4032 

4095 

4032 

4075 

+X3 

50X7 

40-70 

Feb 

4130 

<QX>& 

41X5 

41X5 

+33 

4/35 

3180 


39X0 

39X5 

3930 

3975 

+35 

49X5 

41 JO 


4140 

*232 

4220 

03 7 

+.12 

49 JS 



4X20 

4X20 

42X2 

4X50 

—32 

51.90 



42JX) 

4100 

42X0 

4200 


41 10 

4 (LB0 

Oct 


40X0 

39X0 

39 JO 

— A0 

Esl. Sales 

3JS2 Prev. Sates 7363 





Prev. Day Open I irt. 1LS57 us44 
PORK BELLIES (CME) 


38X00 lbs.- cents per 

49.15 

50X7 

AM 

4005 

—132 

7630 

S860 

Fob 

5880 

60X5 

58JS 

5977 

+57 

7SX0 

58X0 

Mar 

5850 

nn 

5830 

5092 

+X7 




60.10 

fllJS 

60X0 

60X0 

+70 

76X0 

60.10 

Jui 


6060 

4040 

6065 

+55 




PHILADELPHIA EXCHANGE 
Opttoo * Strtke 
Underlying Price Calls— Last 

Sep Dec 
12X00 British Pouads-omts per unit. 


Aog.9 


Mar Sep Dec Mar 


9J0 

r 


2J 14 
3J 0 


55% SSft Xerox UO 51 14 1375 52ft 51% 5I%— ft 

55% 44% Xerox Pt £43 9J • 2 55% 55ft Bft + ft 

29 19% XTRA J4 17 12 36 24% 23% 24 


3DUr 34% ZaleCp 1 22 52 9 
a% 9% Zapata X4 9X 67 
57% 31 to Zavres <8 .9 14 

28% 17% Zenith E 13 

a% ISto Zeros 33 IJ 17 
35% 22% Zumln IJ3 19 11 


43 26% 26% 26%— % 
448 9% 9% 9% — ft 

310 51 50% 51 + % 

307 19% 19% 19% — to 
38x 19% 19% 19% + % 
□9 Mto 34 34% — to 


BPouod 105 

137X5 ns r r 

137.05 120 r r 

137X5 T2S 1DJ0 r 

I37XS 130 r r 

137X5 135 3J5 MO 

137X5 W IX W 

137X5 MS r iso r 

1J7XS ISO 6.15 120 r 

soon Cceodlee Doflers-c*fifs per onO. 
CDoilr 74 r L53 T 

7150 15 r r r 

7130 76 r 0.17 s 

42JW West German Markv-cxnt, per unit. 


UO 

2X0 


0.10 

OS5 

1X0 

r 

195 

5-40 

915 


DMark 

31 

4 JO 

r 

r 

35X7 

32 

135 

<06 

4.10 

35X7 

33 

ZX* 

r 

353 

3847 

3* 

1J2 

r 

3X0 

35X7 

X 

1X8 

1X5 

r 

35J7 

36 

052 

128 

r 

15X7 

37 

023 

076 

172 


0.10 

B42 

U5 


125X00 Freach Fnmcs-l8tM of a cent per unit. 
FFranc US r r r 2X0 
<250X80 Japanese Ten-iiorris of a cwtf per gnif. 


JYen 

38 

350 

■ r 

r 

r 

r 


423JS 

39 

256 

r 

r 

r 

r 


42X5 

40 

2X8 

r 

r 

r 

r 


42X5 

41 

1X3 

r 

r 

0X9 

r 


*2X5 

43 

0J2 

TX3 

r 

037 

r 


42X5 

43 

r 

065 

097 

r 

r 


4KB 

44 

r 

r 

r 

177 

r 



7115 58X2 AUB 56 JO ffJO 

Esl.Soi*s <411 Prrv-Srfm < ,5? 
Prev. Day Oaen (At 6fi06 OtfW 


58-25 Jud 


Fond 




15040 
M9 JS 
I48J0 


COFFEE C(KYCSCE) 

37 JOB IBS.- cents per ID. __ ... — 17 <m it in —1-26 

15020 127X0 Sep 3<™ -)J3 

SS iSS S3 wS* !gg 

131X0 MOV |»J0 !»-» 

135.50 Jut 139JS 139^ 139-W _1 n 

132.75 Sep mm 

130X0 Dec 

Prev. Sales 2. MS 

prev. Day Open Ittt. 11X64 up ,c 
SUGARWORLD 11 (NYCSCE) 

1 12X00 M- cants pot il 


147X0 
138X0 
Est. Sates 


8600 

853* 

8656 

8661 

$r» 

BLU 

8L20 


Dec 

MOT 

Jon 


eZSC 


ni» 

*2X0 


6M 


925 144 Sep <15 <B 

9X5 274 Ocl *» 

7.75 3X0 Jan *2 <65 

9X3 134 Mar <65 5.13 

7.1 S 158 May <W S2S 

6X9 239 M 5.W 5J1 

LIS (D Oct 54 U* 

Jan 

Est. Sales Prev. Sates nan 

Prev. Day Open tnt 91611 Btlffi 

COCOA (NYCSCE) 

10 metric tom- sp*r fan 

MIS 1963 5CP 2110 21IS 

2137 1945 Dec 2180 2185 

EOT 'MS MOT Dg 22W 

317 1940 May 2226 2231 

2217 1960 Jut 

2330 2023 5*0 

2235 2053 Dec 

E9. Sales Z49I Prev. Sale* 2X34 
Prev. DavOnen tnt. 20J75 up 263 
ORANGE JUICE (NYCE) 

T5X0IMbSr cents per IBl 
182X0 130JU 


3X0 

<11 

<40 

<35 

<92 

&07 

US 


Tin 

2303 

2225 


<31 

<79 

5.11 

5X3 

Ml 

5J6 

535 


aas 

ss 

2229 

2252 

2243 

2290 


181X0 
liexo 
17 730 
14250 
157 JO 


127 JO 
12350 
122X0 
13150 
1Z7JS 


SeP 132J0 13320 1XU0 
NOV 129JS 129OT 129.25 lg<5 
Jan 126X0 12650 134X0 126A 
Mar ?M J25J5 125J3 W575 
MOT 12450 12450 1MJ0 1»I5 
Jul OS- 1 * 


+.14 

+23 

+J2 

+30 

+30 

+.15 

+.15 


+10 

+M 

+16 

+16 

+17 

+17 

+17 


+.15 

+J0 

+.10 

+25 

+55 

+J5 


9328 
92J7 
9125 
WJO 

(MS --s; n~. 

lamllitatWTntaloOPrt „„ ova 

££ ^ SJS 
put sS £5 85 SSS 

*084 VS o SAP JfTi n a 

99*53 EJ3M W® 1999 

3m 67 J4 M«*r 8979 *»£ 

mS h ti jun S; w 

s£«^..5:s^ra 


ein ns 
*:j» *ut 
«1J4 

g =5 

•0*.- — M 


etoo- AIM +JU . 
•151 91J4 “ 

•1X0 *I.H — J) 
•070 (L7I _J} 

mn 88 rg 

MD 89 J* ~XT 
MAX MA3 —to 


Prev. Dav Open ! 

■ww'gl sis a a & 
mks — g ^ ,jm ;s 5 is 


1X680 

L190S 


735* 
JJM 
JK3 
. 3795 

.... 1 T 7 * 

6J2S2 uorTS 


Est. Sales HO Free. Sotm 2X6 

Prev. Day Open tnt. <791 off <7 


Metals 


COPPER (COMEX) 
25X00 10L> cents per ID. 


62.1 S 

02.10 

K2$ 

■420 

(0X0 

7400 

7440 

7090 

7030 

7DJD 

6790 

6730 

Est Sales 


5665 

5750 


99 JO 
99 JO 
61.10 
6L» 
42J0 
6170 
64X0 

65.1 a 
65X0 


Aum 

AO20 

6020 

6075 

*080 

6025 

61X5 

61X5 

61X5 

62J0 

6270 

6275 

63X0 

23J0 

6X40 

6475 

6*35 

6*25 

6*80 

64J0 

600 


Aug 
Sep 
Oct 
Dec 
Jan 
Mar 
Way 
Jul 
Sep 
Dec 
Jan 
/viar 
MOV 

Prev. Sales 4X69 


Prev. Dev open I at 77387 up 239 
ALUMINUM (COMEX) 

40000 ibL- cents per tb. 


7*30 

4350 

SeP 

Oct 

Dec 

4570 

*5X0 

*5.15 

7060 

4450 

4630 

*6X0 

*630 

7650 

7X60 

5175 

4635 

Jan 

Mar 

4730 

4730 

4730 


6L7S 


53X5 
47 JS 
51 JO 


DOC 

Jan 


60X0 

*045 

6085 

6160 

41X0 

62J3 

42.95 

6X50 

64X0 

6470 

44X0 

65JD 

45X0 


45.15 
45X5 
4565 
44JS 
4L70 
47 JS 
48X5 
48J5 
4945 
5050 
SDJS 
a 55 
S23S 


1.4)40 

0990 __ 

1 Momm 0,1,157 

CANADIAN DOLLAR (JMM) 

l^r-lpngw-^-^ 

iSS? 1 

7360 .TOT JP*> rr, ’ > 

Prev. Dav Open Ini. 

FRENCH FRANCIIWMJ 
Sum I r en e j.PS!“ ?^ tiaJi0CCi 
liiflA J96B0 SeP 

'ilia JJ9A7D DPC 

:iuS lifi* i 

Est. Safes , ^ 

Prev. Oav Open i»l *** 

. GERMAN MARK(IMM) 

ss m *= 

M62 -30*0 MOT J*45 

Ett&tas mS. raSKLW 


3339 7353 

3323 3136 

-*31( .BIT 

.las not 


IK 


+1 

*f 


-8’ 


J4SS J440 J4S7 


*1 
+» 

J7W -*U 


629X 

S29.0 

6325 

4415 


S5 

70ZX 


May 

Est Sates Prev. Sales 244 

Prev. Day Open InL 1J35 up4) 

SILVER (COMEX) 

5X00 trey Of cents per troy ex. 

MELD Aug 629-0 429X 
STUB Sep 6300 6380 
6100 ad *380 6380 
5900 Dec 64X0 4600 
5950 ■ Jan 

6070 Mar 454A 4440 45SX 
6710 MOV 

&33X Jul 474X 67L5 

641X Sep 689X 6890 
6600 Dec nsx 1250 
6780 Jan 

677.0 Nor 719J0 7230 7I1X 
72L0 693X MOV 

Est Sales 15X00 Prev. Sales 17J05 
Prev. Day Open ln>. 7X782 upOb 
PLATIMUM INYMEl 
50 tray oz.- dollars per tray ee. 

275X0 Aug 292-DO 29X00 292X0 29250 
393X0 250.00 Oct 291X0 297XO 291X0 294J0 

37X50 75730 Jan 294X0 301.60 294J 

32950 24450 Aar XI DO 30650 Ml DO 302X0 

r - 27X00 Jut 30950 310X0 309X0 307X0 

345X0 30X50 Oct 72240 

Est. Sales 3X91 Prev. Soles 1571 
Prev. Dov Open ittt. 1X374 up 569 
PALLADIUM (NYAUO 


4305 

43X5 

637X 

4440 

4506 

499.1 
44L0 
4775 
6876 
7BL2 

709.1 
7203 
73X2 


—35 
— JS 


— J5 
—35 
—35 


+30 

+.15 

+.15 

+.15 

+.15 

+.15 

+.15 

+.15 

+.15 

+.15 

+.15 

+15 

+.15 


+1J 

+15 

+15 

+13 

+1J 

+1X 

+XD 

+3.1 

+23 

+25 

+26 

+23 

+2J 


I JAPANESE reM IIM6M 

»S SS +S- 

SWISS FRANC (IMAU 

js s ss 

Est Sales aX6l Prev Sates 213 67 

Prev. Day Open Ini. 11523 UB92Z 


4338 4370 +1* 

.073 .4407 +19 

4433 4440 +31 


Industrials 


1J2X0 

tan 

-438 

13330 

133X0 

—3X0 

14860 

I40XB 

—1X0 

WX 

14730 

-U0 

15350 

153X8 

— 2*e 

15800 

158X0 

—138 

MOW 

14108 

-uo 


LUMBER (CME) 
t30X00bd.«.-*oer IXOObd-tt. 

1 97 JO T31J0 Sep 134. 

10410 13170 NOV 126J 

iDjn I41XO jan 143,1. - 

mxo 14L3D Atar 14960 14(40 POM 

17440 15X50 MOT 155.10 156 

18X00 15750 Jul 15850 IM 

176X0 16! DO Sen 16130 161 

Est Sato 1546 Ptev.SMo 1XH 

Prev. Day Open Int. 8.923 otfn 

COTTON 2 (NYCE) 

5ODC0 Bn.- cents oertb. 

77JD 58.90 ~ ' 

7300 5935 

7635 59 AS 

70X0 59.25 

TOCS 5940 

*550 5420 

59,25 5X15 

Est- Sales 2X00 Prev. Sales 1J45 
prev. Day Open lot. 19095 ua 12* 

HEATING OIL(NYME) 



58.90 

58.90 

58*1 

5852 

-51 



5930 

ss.ro 

58*8 

— *5 


99.90 

5*TO 

s**s 

59.70 

-Jl 



63.08 

5**0 

59*5 

—35 


9979 

59.7* 

59X5 

5*.72 




S&io 

55X0 



Dec 

5430 

5*25 

5395 

53*7 

-Jl 




7<i0 

7360 

a7i 

+*b 




70.70 





7490 

7475 

74X5 

+J1 


6850 


73X0 

7530 

lit] 

7500 

*37 




75X0 

75.90 

7S39 

75 70 

+49 

74,90 




7685 

7£75 

7565 

+45 




74J0 

7330 

7470 

7550 

+J5 

73X0 

68J0 


M 

72X0 

72.10 

72X0 

+98 

74X0 

Est. Soles 

6800 

APT 7035 7035 

Prev. Sates <674 

7055 


+1X0 


Prev. Pay Open ini. 24.194 wijn 
CRUDE OIL (NY ME) 

1X00 bbl^doUttre per bBL 


1 00 1 ray ax* Oodars per a. 





141 JS 

90-50 

Sep 

MUS 

10225 

10030 

1BU0 

+.15 

14150 

91X0 

Doc 

10L2S 

1(025 

101X0 

raixa 

+J5 

12750 

9L7U 

Mar 

10130 

10230 

10030 

101 J0 

+35 

114X0 

*130 

Jun 

102X0 

U2X0 

KAJ5 

102X0 

+25 


Eta. Sales Prev. sales 551 

Prtv-Dav Open Int 6J19 up 70 
GOLD (COMEX) 
mo fray at- DnEer* pgr t ra y o*. 

485X0 SL00 Aug 32738 32130 32630 32330 —140 

D1.00 71550 SOP 32L90 -140 

493X0 297X0 Oct 333.10 33X10 329 JO 33070 —150 

48950 30150 DOC 3X550 336X0 33350 33470 —140 

48550 306X0 Feb 340X0 340X0 33L4Q 319X0 — 1 JO 

496.80 31470 APT 34X10 34420 14X70 34340 — UO 

43SJD 33050 Jun 14950 14950 349 JO 34(20 —1X0 

42840 331X0 Aug 358X0 358X0 35400 35X10 —2X0 

395-70 315X0 Od X8JS3 —2.10 

393X0 342X0 Dec 3400 344X0 344X0 36340 — X20 

374X0 3SSXO A or 374X0 —240 

Jun 300X0 —250 

Est. Sates 27X00 Prev. Safes 36XS 
Prev.OoV Open Int. 126X36 up L671 


2*30 

2*08 

Sea 

27X0 

2760 

27X6 

576C 

+.73 

29JO 

24X5 


2X94 

27.17 

2694 

27.1» 

+33 

29 JO 

2*40 

Mot 

2648 

26*3 

26X5 

26J9 

+30 

2930 

zuo 


26X0 

2638 

25X5 

2638 


2930 

2430 


2630 

2639 

a 620* 

2634 

+30 

29X6 

2*25 

Fen 

2537 

26.15 

25.97 

2616 

+37 

29X5 

an 


25X5 

2SJB 

2530 

2535 

♦31 

29J5 

2193 


2530 

&70 

2530 

2530 

+.41 

2736 

a 65 

mot 

2&4B 

2540 

2530 

2530 

+.16 

2620 

2171 


25X0 

an 


an 

+.13 

EeLSotes 


Prav.Sota* 7X94 





Prev. DOT Open tot 57477 gn)X)7 


Stock Indexes 


t Indexes ca 


Financial 


US T. BILLS (1MM) 

SI mUlkm-Ptsaf 100 Pet. 


93 33 

SAM 

Sep 

92J8 

9232 

97X2 

9217 

+31 

93X7 

8537 

Dec 

9238 

92X4 

9254 

9258 

+JD 

9239 

■860 

Mar 

9235 

9232 

93.19 

(223 

+X2 

9228 

87X1 


9136 

913b 

9147 

91 J9 

+X2 

92X1 

88X0 

Sep 

*133 

91X7 

9137 

9138 

+X2 

9138 

•9X5 


*135 

9135 

9130 


+X2 

9139 

8938 

m or 




91X5 

+X2 

90.93 

9030 

Jun 




90X0 

+X2 

it. Sales 

6335 Prev. Sales 8306 





5P COMP. INDEX |CMU 

™3| im, lSS Sep mss 18955 1*7.75 UL» 

200A5 175-70 Dec J91W 19X10 19050 1*1X0 +.15 

20X75 nan w wm moo ituo into +5* 

Est. Seles Prev- Sale, jeon 

Prev. Day Open Ira. 63319 atin 
VALUE LINEtKCBTl 
eoMgand cents 

21X30 115-75 Sen 30830 281.90 1?*JD 20L40 +40 

217X5 300X0 DM 30UB 30S75 3SX7S 28408 +1.15 

EstSafel Prev.Sole* 3J38 

Prev. Day Ob bn hit I1J+4 Off 38* 

NYSE COMP. INDEX IHYFE) 
points and cents 

HUS 91X5 Sen 109 JB 90935 108X5 10JJI +.10 

117X8 10U0 DM 11IXS 1HJ5 HCJ0 111.11 ♦.» 

Eta. Safes Prev.Sole* 

Prev. Ogy Open fnt NU3S upXft 


Prev. Dav Oaen Int. 39X75 up39i 
18 YE. TREASURY (CRT) 
sioaooo prln-nfs A JBtasat looect 


r 

r 

8>2l 

75- tB 

Sep 

86-4 

M-* 

•5-17 

85-27 

+3 

028 

r 

87-13 

75-13 


*5-4 

*5-4 

8+17 

6+25 

+2 

03/ 

036 

B6-2 

75-1* 


S3- 27 

83-31 

63-77 

8330 

+2 

r 

r 

B>7 

7+30 

Jon 




83-5 

+2 

r 

r 

84-4 

80-7 

Sop 




B2-U 

+1 

s 

r 

03-11 

80-2 

Dec 




•MS 

+ 2 



Est. Sales 


Prev. Sales 14X95 





Commodity indexes 


rev.DoyOnaiNit 6X730 dtt 390 
US TREASURY BONDS (CET) 
Meet-STOMOO-ofs LSMsof lOffpcn 


82508 Swiss Frana-cents per bML 


S Franc 

38 

<80 

£16 

r 

r 

r 

r 

4323 

>9 

r 

r 

r 

r 

r 

0J9 

4323 

41 

241 

r 

r 

_ r 

057 

r 

4323 

a 

159 

2.U 

215 

027 

r 

r 

4323 

43 

888 

1X0 

r 

CJ9 

US 

r 

4323 

44 

r 

r 

r 

1-30 

r 

r 

4333 

- 45 

0.14 

1X5 

r 

r 

r 

r 


Total call vaL 
Total out wL 


<392 




NEW HIGHS 36 


AMR Cp pi 
BkBosoaipF 
Eqmkaipf 
PanAm 
PSNH 34$pfG 
unit Brands 


CorraiCp 
ML Convn 


AmBCcta 
CBS vvd 
IntConlrot 
PanAm wl 
Radi co 

UnEnRes 

NEW LOWS 


AsWOPf 
ClevEI pfL 
LNHaut 
PQPL924et 
Taney ind 

UtaUUim Pt 


FairCom 
Playboy En 


HomeOepol 

SlgnatCewd 


BkBasodi pf 
DetE ISiSot 
Pocfco407p 
PSNH 42SpfC 
Thermo El 
Vorco2pf 


LearPetri 


A\BEV Highs-Lcms 


NEW HIGHS 12 


AmConttnd 

MartlnProc 

PorkChem 


AHtttKTMa 

Deoeroturs 

LynchCSvss 

Slarrodn 

Tidwell 


FttcftbgGEp 

Mortronlc 

ScurryRn 


KnogoCp 
Nontucklnn 
To! Ed B32pf 


UtfldAd 
Oita Ind 
Urtlttln 


NEW LOWS It 


Balden BOir 
Destontmc 
PmEnMI 
Trfeselen 
WTC Inti 


Casobian CMefDevg 

Devon Realnn Hamptn Ind 
PooeEvan Sandeale 

TexAmEng 



OII-toMOMA 
IM 11 E 
EIGHTIES. 


IXK>3X>\OCTOBffl2^>1985L 
i sixth annual International HeraW^ Tribune/ 
"Oil Daily Conference on “Oil and Money in the 
Eighties” will take place on October 24 and 25 in London. 

The theme of this year's conference is “Surviving in a 
Competitive Environment”. The program, desimed for all 
senior executives in energy apdrelated fields, wm address the 
key issues affecting the current energy situation and assess 
future trends and strategies. Key speakers wffl include: 

H-E. Dr. Professor Subroto, Minister of Mines and Energy, 
Indonesia; The Honorable John S. Herrington, United States 
Energy Secretary; Allen E. Murray, President, Mobil 
Corporation; Arve Johnsen, Presidait, Statoiland'nie 
Honorable John Moore MJP, Financial Secretary to the 
Treasury, United Kingdom. 

For full de tails, please contact the International Herald 
TYibune Conference Office, 181 Avenue Charie&de-GauHe, 
92521 Neuilly Cedex, France. 

Telephone: (33-1) 747-12-65. Ext 4568. Telex: 613595. 


r— Not traded. 9— Na option offered. 
Lata Is premium (purchase price). 
Scarce: AP. 


Canapwitat. 
Pet open tat 


HUB 


79-12 

57-10 

S«p 

7+31 

7+25 

7+1 

7+12 

— 1 

761) 

57-8 

Dec 

75-17 

75-21 

7+31 

75B 

— 1 

77-29 

57-2 

Mar 

7+21 

7+22 

73-39 

7+9 


76-6 

5+29 

Jun 

7>2T 

73-72 

73-3 

73-10 

— 1 

7 . Ml 

56-29 

Sep 

72-27 

72-27 

724 

72-15 

— 1 

7+24 

56-25 

Dec 

7W* 

TV-22 

71-19 

71-22 

— 1 

7+15 

54-27 

Mar 

70-29 

71 

70-39 

70-31 

— 1 

7+26 

61-12 

Jan 




70-11 


77-27 

63-1 

Sen 




69-24 


72-18 

*3-34 

Dec 






69-16 

67*5 

Mar 




022 


Est. Sates 


Prev. 5ate» M7X42 





Prev. Dor Open HttX28X49 ott 144X9 
GNMA (CBT) 

rraoxoD pda- pts«32ndsaf 188 pet 
77-24 59-13 SbP 75-25 7535 

76-28 5+4 DOC 754 754 

7tr* 58-28 Mar 


75-1 

74-tS 


754 

7+1* 

73-28 


Moody'S. 
Reuters. 

DJ. Futures. 


Previaa 
. 902 JO f 
1.705 JO 
U5l26 
21940 


Close . 

901501 

1.699.20 

NA 

Com. Research Bureau. NA 

Moody* : base 108 : Dec 31. 1931. 
p - preliminary : f - final 
Reuters : base 100 : Sep. 18. 1931. 
Dow Jones : Dose 100 : Dec 31. 1974. 


| Market Guide 

CBT: Chicago Boom of Trade 

CME: Chicago Mercantile Exchange 

I MM: m terng t lgna t Monetary Martin 

: OJ CMcano Mercantile EAcnanae 

NYCSCE: New York Cocoa. Sugar. Coffee Exchange 

NYCE: New York Canon Exchange 

COMEX: Commodify Exchange. Mew York 

NYME: Now York Mercantile Exchange 

KCbT: Karoo* City Beard of Trade 

NYFB: New York Futures Exchange 


i 


London 

Commodities 


.1ng.J2 

previous 

HJgb low Bid Ask kid Ask 

SUGAR 

Sta r tki B per arable taw 
OCf 12440 11640 124X0 124X0 12020 12D40 

nc 128X0 122X0 128X0 12S40 124X0 12450 

Mar 13848 131X0 1J75D LBX0 133J0 134X0 

tear moo 13*20 74060 I40J0 IStOO 73*50 

ABB N.T. N.T. 14440 146X0 140X0 14140 

act 14560 144J0 14960 151X0 145X0 145JD 

volume: 2X13 tat, at 50 tons. 

COCOA 

Startaia pgr metric tan 
5m> 1X38 1X29 1X30 1J33 IXfi 1X44 

Dec 1.737 1226 1X27 1773 1338 1J« 

Mar L74J 1JJ7 1J36 1338 13*8 1350 

MOT 12H 1X49 1^49 IJ52 1X58 1260 

JJy 1369 1367 1360 136* 1,770 1,772 

Sep L773 1J75 1370 1375 1330 1388 

Dec 1X00 1J90 1775 17(8 1785 1395 

volume : 1319 lots of 10 tans. 

COPFGB _ _ 

Starting per metric taa 
Sep 1575 1540 1542 1545 IMS 1688 

HOT 1714 1583 1690 1691 1734 7729 

Jon 1753 1725 1727 1730 1765 1768 

Mar 1380 7753 1353 1755 1797 1397 

MOT 1795 1,77* 1770 1776 1J10 1512 

Jl, IXOi 1X05 1,775 1X10 1530 !X« 

S «* K.T. N.T. 1780 1J40 1545 1X75 

volume: 2X08 tats at 5 tans. 

GASOIL 

U5. it o hori per metric hm 

Sep 2347S 22975 23275 23250 22875 229X0 

Ota 331.25 22775 22950 22975 227X0 22775 

not 21x0 52-5 

Dec 23075 73535 229-25 22950 228,00 778 SI 
jam N.T. N.T. 223X9 231X0 226X0 229X0 
S N.T. XT. 220X0 233X0 271X0 224X0 
Mar N.T. AT. 719X0 23XX0 71RXD 21975 
Apt N.T. N.T. 219X5 21950 21850 218J5 
MOT N.T. H.T. 212X0 230X0 216X0 21675 
Volume: 2443 lota gf 100 tons. 

Source*.- Reuters and London Petroleum Ex- 
taasollt. 


Gomwllkies 


HONO-KONG GOLD FUTURES 
U 55 per ounce 


Aag. IS 


Web Lew Bid - 

Aug _ N.T. N.T. 326X0 32X00 
5ep — N.T. N.T. 3Z7X0 329X0 
Od _ 330X0 330X0 329.00 331X0 
Dec _ 334X0 334X0 mm ntm 
Feb — N.T. N.T. 338X0 340X0 


•: JffJO 349X0 341X8 3*3X0 


API _ N.T. MX. 

Jwi _ N.T. N.T. 

Volume: 25 lots of 100 a*. 

SINGAPORE GOLD FUTURES 
8521 



yi m mm TUI tin 


High 

N.T. 

N.T. 

N.T. 


N.T. 

N.T. 

N.T. 

53470 


volume: 77 iota oMQO 

KUALA LUMPUR RUBBER 
Mcdaytaen cents per KKo 
aose 


Seftte Settle 
32*40 32250 

32670 32450 

330.10 324X0 
3343B 33058 


Nov. 

Dec 


186X0 

TkSXO 

15550 

1*6X0 


Volume; 7 lots. 


187X0 

lbunn 

18650 

187X0 


Pravtaas 
BW 


186X0 

1(658 


189X8 

187501 

187X0 

187581 


SINGAPORE RUBBER 
Stega pore cents per kfto 


RSS 1 See_ 16*75 
RSS 1 Ocr_ 163X0 
RSS 2 Sep_ 15950 
RSS3Sep_ 15750 

R&S 4 Sep 15350 

RSS 5 Sep 14850 


165X8 

16350 

16050 

15850 

15550 

15050 


Pravtaas 

BW AS 
169-30 170X0 

New f 


Ijondon iVleials 


Aug. 12 

.Previous 

BW ASk 


One 

BW 

aluminum _ 

storltag per metric ton 
Seal 736X0 737X0 74950 73056 

Forward 75850 75MB 772X0 77100 

COPPfiR CATHODES IHW Grade) 

10»Sf , 10215» 1843X8 10*4X0 
Forward 10*550 104650 106*X0 1065X0 
COPPER C ATHOD ES (Standard) 
g^nospttrtTttrtrtcton M1M0 

forward 1020X0 1022X0 1037X0 1039X0 

LEAD 

W..M tun 

apst 3 0 0 ,50 3S1X0 WtfXO 298X0 

Wre m 29650 299X0 298X0 299X0 

NICKEL 

Staffing pc metric ton 

IS* KSXO 3665X0 

porward 3645X0 3450X0 3720X0 272SX0 

SILVER _ 
puce Per fror ocmce 
tat 45350 45*50 450X0 451X0 

^ward 468X0 46750 4*2X0 4*3X0 

TTN (Stgndard). 

Staring per metric ton 
tat 9175X0 9760X0 9245X8 *25(1X0 

Forward 9150X0 9151X0 9220X0 9225X0 

Sprtm per mefitc tort 
tat 535X0 537X0 5*0X0 5*2X0 

Fwlwra 539X0 5*1X9 54550 5*9.00 

Source- AP. 


KUALA LUMPUR PALM OIL 


Jan. 


Mar 
moy 

Volume; a tots of 25 tom. 
Source: Revterm. 


aose 


Praoteai. 

BW 

AG 

Bid 

Ask 

m 

900 


900 

850 

890 

&Sj 

890 

850 

BTO 


WO 

840 

BTO 

UO 

890 

•40 

880 

M0 

880 

830 

830 

880 

170 

B 

880 

870 

820 

8*0 

830 

860 

ITO 

•60 

BTO 

M0 


^S&ptop 
Index Options 


Stake QftrtJtf 
Pria M So Od Nn 
T70 13 IK Mft — 
Vi t f* WR int 

~3 A *to Tto 
1/1* 3ft fli . 
I/M 17/162 UJ^ 
h 9/1* I 

- in* % % 


J «* 

5# 3JJ 
vitm 


Aag.9 

MHod 

Am tap Od Her 
- VH VM - 
1716 to- n/li 11/1* 

7/1* 1% 2 Z» 

2) A « » 
7% 7% Ito * 

rart w* lift — 
TTto - Bft - 



SUGAR “ 

French francs per metric ton 

Od p46 1720 1730 

Dec 1745 1740 17J5 

Mar 1790 170 1765 

MOT U01 1AM 1795 

Aua N.T. N.T. 1454 

Oct . N.T. . N.T. UN 


Aug. 12 

Ask curve 


1734 —33 
1745 —39 

17*7 —45 

ts =§ 

1520 —37 


'■5 rl of 50 tom. Prev. actual 
sales: i.uo lots. Open Intereff: 18721 
COCOA 

preach francs per 108 to 
Sep N.T. N.T. 2X27 2X45 —2 

Dec 2408 Z026 2X22% 2X25 +3 

Mar 2X48 2X40 2X30 2X43 UndL 

May H.T. H.T. 2X35 — UrS 

Jty N.T. N.T. 2X*S — UhS 

Sep N.T. N.T. 2055 — UiSl 

Dec N.T. H.T. 2X65 — Knot 

Est sal.: 18 lo Is of IB tans. Prev. actual 
sales: 79 lots. Open Interest: 798 
COFFEE 

French trance per MS kg 
5£ IMS 1785 1J8* 1.980 -54 

Nov ALT. N.T. — L9SS —40 

Jan M.T. N.T. — 2X30 —17 

Mar 2X50 2X40 2X30 2X50 —25 

MOT N.T. N.T. ?m*, 1X70 —a 

Jlr N.T. N.T. - ZOTO +2 

Top , N.T. N.T. — £iiQ UrSt 

EsLyff.: 5 tots at 5 tans. Prev. actual tnln: 
TO tots. Open Interest: 417 
Source: Boon* do Commerce. 


| Dhidend s 

^ — 


Aug. 12 

Per Amt pay Rec 
INCREASED 
Hathaway Cbrp 5 .10 9-13 >23 

STOCK 

Jefferson Carp _ T0% 18-1 mo 

USUAL 

AMC Entertainment 


Cobat Carp 
Cl I Irens utilities 
Colonial LflAcd 
OefccK) Aarl Rvch 
Etder Beerm on Sirs 
EmcOLM 
Fst Bancorp Ohio 
Fet interstate wise 
Flscfcbxh Cdrp 
Gutt Canada LM 
IndaILM 
Ha ttercs iwc Sec 


Knape & VogrMfg 
MBgi Mfn/ng Mfe 
Mission Wen Prop 
Provident U&Acd 
Uftton Natl Cora 


M0 9-JJ 
9-11 >22 
9-9 >23 
1H I 10-U 

M >20 
. _ 9-U M3 
.IS 10-31 9-2D 

38 9-9 >23 

Q 73 ID-1 M 

Q 75 9-3 8-23 

Q -U MLl M0 

G .IS 9-13 >23 

M .15 HD >16 

Q 75 +6 >33 

Q 47% 9-12 >23 

3 X6 M0 >19 
.19 9.» >30 

Q 73 ft V-M) >23 


AdMvali M+twBfMr; CPwartartr; 


Soarva: UPt. 


Treasury Bills 


T9W Wfl voboN 1U.1E 
Tetnl can boss ks. Gtjtl 
rmttwf nfHBc fMR 
TWelPSI maHIUUI 

mat,: 

HWilBJS LOT 182*3 
Sawcv CSCE. 


C16MIEU4-091 


Ag. 9 


Smooth 
bKnontn 
One year 
Source: Salomon Bremers 


j Cash Prices 


Commodity and Unit 
Coffee 4 Santos, lb. 


Prlnfclotfi 6408 38 ft. vd — 

Steel Wltots f Pm.), Ion 

iron 2 Fdry. Phtta. Ion 

Steel scrap No t hvy PIN. «. 

Lead Soot to. 

Cooper elect, lb 

Tto (Straus), ft. 


Zbtc. E. SL l_ Basts, lb . 
PQUadhHtLO* - 

Sliver N.Y.a, 

Source: AP. 


■If- 12 
Year 
Mao ABO 

172 LA* 

■JO 877 

42388 
7T3J8 

73-73 an 

19 3M» 

66-78 *+*J 

*7373 63758 

>41-77 MB 

97-99 123-1 D 

<31 753 


211*9 


DM Futures 
Options 

w. demon turn -vsne inert*, ads eer nor* 


Catto-SetDo 
PHce Sep emc Mar 

34 28! 2*1 ITO 

31 1.14 1.(5 24* 

M 052 137 1.93 

37 870 a« 1*7 

38 US 08 1.10 

3* — — 0J7 


■leg- 12 


to Dvr - 

085 053 857 

217 072 WV 

055 1.11 1JS 

171 IX IB 
MS IB - 


Etttmttte d total reLAJOS 
cum: FH. *OL 230 ooeo Int. J7.M4 
Pets: FrL veL 2779 ease WL27J39 
Source: CME. 


Earnings 

Revenue one profits., ty mdhant.areo 1 
local currencies unless gfnerens e 
indJco/ea. 


Sweden 


Asm 


Revenue^ 


Pretov Net. 


t9es 

17,180. 

:x*o 


(Juiced States 

Atlantic Federol SAL 

Maw. — - 

income 

PerShare 


871 


ISM 

mi 


3 

■8 


9 Mmnh. 

N*» Incamb — nu. 

Per Snare — gg 

NKnet stoc/ydr writedowns of SW* 

•tarter and own 0 5600)0 in tm rtiM ■ 
WaUMarl Stun* 



180 

Net 'n»m« ... n« 

PerShare 


luHatf 

.180 

wvt inesnw rut 

Per Stare 

— 55 


Otter 

SM 

Yield 

Prey 

YMO 

: ’• ’ • 

7.16 

7.U 

7-39 

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This Notice does not constitute an offer of securities of Standard Chartered PL.C 
but does require action on the part of the holders of the Notes referred to below. 


Sta 



artere 



Standard Chartered Finance B.V. 

(Incorporated with touted UaMny and established at Amsterdam In ttis Natrieriandaon som July. iSTS) 


Exchange of 

U.S.$300,000,000 Junior Guaranteed Undated 
Floating Rate Notes, issued in November 1984, 

for 

U.S.$300,000,000 Undated Primary Capital 
Floating Rate Notes (Series 2) of Standard Chartered PLC 
plus U.S.$7,000 per U.S.$1 ,000,000 principal amount exchanged 


The purpose of the exchange is to replace the Notes of Standard Chartered Finance BY. with new notes of Standard Chartered PLC which will 
be regarded asprimary capital in accordance with the Bank at England's currant requirements on the primary capital of United Kingdom banks. 

Standard Chartered PLC offers to make the exchange on the foUowrtng basis: 


For every U.S.$1 0,000 principal amount of 
Notes of Standard Chartered Finance BV. 


U-S.£10,000 principal amount of Primary 
Capital Notes of Standard Chartered PLC 
plus 

one Credit Note for U.SLS7D. 


Exchange PropoaalK This Notice is pubfished In connection 
with proposals bang made by Standard Chartered PLC 
("Standard Chawed ") uctter #» a* hang* far the custmg 
USS30CU300000 Junior Guaranteed Undated Rotting Rate 
NoMG(ihe , ’Naws”) of Standard Chartered Finance ELV. issued 
on 7tti Norembet. 1864: 

(a) anew issue ofUSSSOonOaOOO Undated Primary Capital 
Rosing Rate Notes (Series 2) (the "Primary Capital 
Nates") o» Standard Chartered; and 

(b) obligations til Standard Chartered (the ' ‘Credit Naas") 
entmtng holders n cash upon echanga. 

The exchange of Ncias tor Primary Capital Notes together with 
Ciett Noras vroiJdiato place on 7th November. I985 l which to 
the next into reel payment date at the Nates. The coupon due on 
the Notes an that data win be paid by Standard Chartered 
Finance B.V The Credit Nores will be payable in cash by 
Standaid Chartered on dial date. 

Full details of the exchange proposals and the Plenary Capital 
Notes and Cretin Nows are contained in a Otute to 
Noteholder issued by Swnderd Chartered dated 13th August. 
1985. Gopws of ttaCiiciifwdogatfter with (he related Form of 
Acceptance and faxing InsPUCNm) may be obtained hom the 
operators ol the Cede! and Eunxtear clearance systems or any 
of the other addresses lewd below. The attention of US. 
Noteholder? a drawn to the detailed pnartsfons concerning 
them set out m the Circular. 

A Meeting of Noteholders willbehefd on 4fh S e pte mber. 1385 of 
which *n eetreordmaiy resotuiton n49 be proposed to sanction 
the exchange proposals. It passed, me extreonjnary 
reaofut ion will be binding upon each NauhokMx (end the hokter 
ol each coupon and talon appermireng thereto), wfwfher or not 
present at the Meeting oi vobng on the extraordinary resolution 
and the whole issue ot Notes w4l be sechanged on 7th 
November. 1985 lor Primary Cepnal Notes and Credtt Notes 


If the extraordinary resokrnon e not passed, but Notes of not 
less than U S JiOOQOMoa pnncvpel emoure have been 
tendered tor exchange. Standard Chartered will, rtovwihetess, 
exchange those Notes. 

Primary Capfttt Notes: The terms oftfie Primary Capital Notes 
mcorporeie die principal tenures ol the News, whiter audng 
account ol ament law and practice tn relation to the primary 
capital of United Kingdom banks. In parttoutei. your attention Is 
drawn to the toUowing- 

(a) The Pnmary Capital Notes wfl be issued by Standard 
Chartered and will be su b or d ina te d to the claims of «fl 
unsubordinated cratem a of Standard Chartered and ail 
sub unfa i te ed tred itots of Standard ClraneiBd other than those 
whose oWms rank or are expressed to rank peri passu with or 
fumcr k> trie claims efttrehotoe re cl the Primary Capital Nows in 
ihai no prindpel or iraerest wU be payable in respect ol the 
Primary Capital Notes except to me extent that Standard 
Chartered could moke such payment and stffl be sokrera 
tmmedtately thereafter. 

(b) In me event of the winding up of Standard Chartered. 
Standard Chartered will, subject to paragraph (a) above, be 
obhgadto pay in rasped ol the Primary Capital Notes such 
amounts as would have bean payable If the holders had. on die 
day prscadmg die commencement ol such winding up, 
become hoidare of preference aharea in the capital of Standard 
Chartered ofadasshawngapre te ran tiol right in the winding up 
rarer the holders of all omer otessee of shares to the capital of 
Standard Chartered and entitled to racento in a wtndlng^tp on 
amount equal to. in respea ol the Pnmary Capital Notes, the 
prinapel amount of the Primary Capiat Naas together wftn 
accrued a— rest to the dated repay m ent 

(cj Standard Chartared wfllnof be obliged to make psymentol 
irnerest on the Primary Caprttt Notes dunng any totems period 
il. dunng that iraareai penod. no dividend or other distribution 
has been declared, paid or made on any class ol Standard 


Chartered^ shore capon. Interest on the Primary Capital 
Moteawffl.aubjecno paragraph (a) abrare, be pxyabto on the 
a atned s ya end anhaaama rate aeon the Nome. 

(d) The only event of defeuft win be If Standard Chartered fails 
to moke ar^ pqrinem of pnndpel or interest tor a period ol 15 
days or more after the das on winch it is obliged to make such 
payment, or would be go obliged but tor the provisions ol 
paragraph (a) above. 

Application has been made torttta Primary CapSal Notestobe 
adnanadtothaOffiaai List of The Stock Exchange of (he United 
Kingdom and the Republic of Ireland. 

A description of die Primary Capital Nates is set out ai the 
CncularandlsalsocontBrnadintheiwwissuecardscBCtiiaiod 
by Extol Statistical Sendees Limited. 

Meeting of NoteftaMera; The quorum at the Meeting of 
Noteholders to sanction the exchange proposals will be 
persons present in person hawing Notes andibr voting 
certificates auditor being proxies and being or representing m 
the aggregate a clear majority m principal amount ofthe Notes. 
Ha quorum a not so presets the Meeting will to adjourned to 
Wth September. 1S05 at the soma time and (dace. The 
exirawtanary rasohibon will not be proposed Ol any adjourned 
meeting untess a quorum « present of parsons present m 
person halting Noun and/or vobng certificates and/or being 
proxaas and bei ng or represerai ng m the agsregetenoi less man 
one-third in principal amount of the Notes 

In radar » be passed, at the Meeting or ary adjourn mem 
thereol. the axtraonhnory resolution must be earned by a 
maiority consitnig of nol less than three-tounhs of the war 
cast thereon inaccardsnceaMbmepraiwonsof me Hirst Dead 
constituting the Noras Note bold ere completing a Form oi 
Acceptance and vtatmg instruction win be votingin tarourotthe 
woraonfinaiy resolution. 


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Adviser to the exchange proposals: 

Credit Suisse First Boston Limited 

ACTION REQUIRED 

To tender a Note ter exchange, you should obtain from any of the addresses listed below a Form of Acceptance and Voting 
Instruction (and Circular) and complete and return the Form by not later than tl 30 a jn. (London time) on 2nd September, 1985. 

A holder of Notes in Cedel or Euro-dear should, to tender a Note ter exchange, obtain the Form (and Circular) from the operator of 
such system and complete and return the Form to such operator by nottaterthanULOO sum. (Brussels time) on 30tti August, 1985. 

TRADING 

Arrangements have been made tor the continued trading ol the Notes through Cede! and Euro-dear pending the outcome of the exchange proposals as 
follows: 

(a) Cede! and Euro-dear have opened separate clearing accounts, respecaivefy numbered 273520 and i356B(the "Assented Accounts'"). Upon receipt of a 
duly completed Form d Acceptance and^ Voting Instruction in respect of Notes tendered tor exchange; Cede) or Euro-dear, as the case may be, will transfer 
such Notes (the "Assented Notes'') to their respective Assented Account. H the extraordinary resolutton of Noteholders Is passed, all Notes will thereupon 
become Assented Notes. ‘ 

(b) Trading may take place in both the Notes and the Assented Notes but not between the Notes and the Assented Notes. Until 7th November, 1985 or the 
exchange proposals lapse, Assented Notes may not be traded tor settlement (i) outside the relevant Cedel or Euro-dear Assented Account; 00 after 7th 
November, 1985; or (ili) tor 48 hours prior to the time ofthe Meeting (or any adjournment thereof)- 

(c) II the exchange proposals become effective, the Assented Notes will be credited on 7th November i9BS to the new Primary Capital Notes clearing 
accounts referred to below. 

(d) If the exchange proposals lapse, the Assented Notes will be transferred back to their original clearing accounts. 

Similar arrangements have been made tor the continued trading of Notes in respect of which Cede! or Euro-dear may receive instructions merely to vote on 
the extraordinary resolution as referred to In the Circular. 


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Notice la hereby ghran ih« » Ueaung ol ttra hpktere (the 
“NoiehotoeraT of tne aS430O00Qp00 Junior Qmnteeo 
Undated Floating Hs» Nraes (the “No es“) of Stantord 
Chartered Rnanw 8V ("Ftoance") which are constituted by a 
Trial Dead (me 'Trust Deed") dated 7th Ncwembra. 198* and 
mode bttween Finance (!}. Standartf Chartered PLC (2J arid 
The tow Debenture Trust Corporation p. It (toe -Tnwoa'h (3) 
we be held tt 37 Gracachurdi Strsai. London H3V OBXon 4ri» 
September. 1985*11 30 s.m (Londontiree) lor inn purpose of 
oonutemg and. if triougw fit. passing Iris Wowing 
ogrtraortilrttry resolution In accordance with the protosxmsol 
the This Deed 

Extraordinary resolution: 

Thai raw Meeting ol lift holders « USJKJOODOOiW) Junnr 
Guaranteed Undated Floating Rare Ncxaa lin e "Notes ') ol 
Storeiard Chartered Finance B.V hereby sanctlona ttis 
exchange of au of (he Nous tor USSXaPOOOOO Undated 

PnmaryCapr»alFtoatoigHa»NotB8lS8riBs2)9ndCred4N(iiss 
of siarejaro Chartered PIC upon and subioel » a« the wms 

and condioons ol the base ra«change proposal matte by 
Sondawl Chartered PlC in 6a Circular dated iM i August, W8S 
BttofioldwolttoNa*«a«aesn»tol^ lm P , » n w , «i wrt 
such base exchange proposal m accord ance with ns 
pmisiHis and otherwise m occortianee w8h tne tamw of me 
■aid Circular'' 

Dated 13th August. 1985 

By order ol the Board of 

Standard Chanered Fsiance 8V 

D LIMB 
Urging Director. 

To anand and vole at the Meering. NoiahoWers mutt preduce 
ramer Itwr Notes or vofing certificaws fo obrato a voting 
carvUcso N&ehctoers muS tteposn thair Noiwai my time 

wnti any Paying Ageni nol law man 48 hours totore the tane 

fixed itx notouig ihe Mealing or adjourned Meeting Bui not 
thereafter. 


Notice of Meeting 

Such voting cenritoaiaswtt slate ttmonme date thsracS Nona 
of a spec Bed amount and speci fi ed aerial numbers were 
deposited with ttis Paying Agent esufitg the same, dial the 
bearerttitovo u ng ce riMicatateerttttettlo attend and wwaattha 
Meeting or at any adjournment thereof m respea alsucn Notes 
andmn such Nows widnrttoreteaaeduxxa the MrneroKBjthe 
eonduwxi ol ttw Meeting « any axjownment thereol or any 
poll tafcen thereat or (b) the surrendar of such vexing ce rtWcsae 
to the Paying Agent wftch issued lira same. Mow may be 
dBposiied at. and wring certificates otwoao firan, any of the 
Paying Agent*. 

Snoufcf a NttenoldBr nra wab to to present in penon he may 
either deliver hte voting certdicate to ttw pereon hS wishes to 
attend on Ns betted or gore voong instructions u the Paying 
Agere with whiett the retoont notes sredsposrtttJ* tlw time of 
autfitopos *b ejngnci l S sstt M n ( M i n wttlais S iSsriirfti 
Meatmg or any w^rajitmwm thereol. 


For enquiries please ring: 

Standard Chartered PLC 
01-623 7500 ®a 2206(2089 

Cradil Suisse Bret Boston Limited 
01-634 3000 ext 3430 


Copies of tt»e Circular can be obtained 
between the date hereof and 
4th September, 1985 from: 

Standard C ha rtered PLC, 

10 Clements Lane, Lombard Street, 

London EC4N7AB 
Standard Chartered Bank, 

73-79 KingWIfliarn Street, London EC4N 7AB 
Morgan Guaranty Trust Company 
of New York, 

35 Avenue desAns, Brussels 1040 
Banque G^neraie du Luxembourg S.A., 

14 rue Akfringen. Luxembourg 
Standard Chartered Sank AG, 

Bletoherweg 62. CH-BOOZ Zurich 
Credit Suisse First Boston Limited, 

22 Btshopsgste, London EC2N 4QQ 
Copies of the Circular may also be collected 
from the Company Announcements Office of 
The Stock Exchange until 15th August, 1985. 
The Primary Capita! Notes have been 
accepted for clearance on issue through Cede! 
(reference no. 273554} and through Euro-ciear 
(reference no. 13611}. 

Arrangements have been made with the 
operators of Cedel and Euro-dear for the 
exchange of Notes held therein. Further 
particulars are contained in (he Circular, which 
will be sent by such operators to their account 
holders. 

























































JHHMaasnn 




UNITED STATES DISTRICT COURT 
FOR THE DISTRICT OF COLORADO 
IN BANKRUPTCY 


hn ' ~| 

HORACE TECHNOLOGY CORPORATION; j 
STORAGE TECHNOLOGY de PUERTO KlCO J 
INC-; DOCUMATION, INC; STORAGE TECH- 
NOLOCY FINANCE CORPORATION; MEDIA ! 
TECHNOLOGY CORPORATION, | 

Man. j 


Chapter 11 

Cwc No. 84B537TG 

(Joim AOntaMraMoa 

Cm Not. HBS377G 

OmtbUMIK, 

Uditwl 

(4055120) 


NOTICE OF ORDER FIXING DEADLINE 
FOR FILING PROOFS OF CLAIM 
(Bankruptcy Rules 3003 (c) (3) and 2002 (a) (8) ) 

TO: CREDITORS, EQUITY SECURITY HOLDERS, PARTIES WHO HAVE 
REQUESTED SPECIAL NOTICE, AND OTHER PARTIES IN INTEREST: 

PLEASE TAKE NOTICE that the Bankruptcy Court has entered its Order fixing October 12. 1985. at 4:30 p.m.. 

os the last date for the filing of proofs of claim In the above -captioned chapter II cases. Reference is made to 
Bankruptcy Rule 3003. 

ANY CLAIMS FILED AFTER OCTOBER 12. 1985. SHALL BE DISALLOWED. ANY ENTITY THAT IS 
REQUIRED TO FILE A PROOF OF CLAIM AND THAT FAILS TO DO SO BY OCTOBER 12. 1985. SHALL 
NOT BE TREATED AS A CREDITOR FOR PURPOSES OF VOTING OR DISTRIBUTION, AND ANY 
CLAIM OF SUCH ENTITY SHALL BE FOREVER BARRED: provided, however, that a proof of claim for any 
claim against any of the Debtors arising out of the rejection by any of the Debtors in Possession of an executory 
contract or unexpired lease, or the recovery by any of the Debtors in Possession of a voidable transfer, as described in 
Bankruptcy Code § 502 fg) and 502 (h). must be filed on or before the later of October 12. 1985 and 30 days after the 
entry of an order authorising the rejectia n of the executory contract or unexpi red lease, or 30 days after the entry of an 
order or judgment avoiding the transfer, respectively. 

This claim Piling requirement applies to all prepetition claims, except that THE FOLLOWING TYPES OF 
CLAIMS AND INTERESTS HAVE BEEN EXEMPTED FROM THE BAR DATE REQUIREMENTS AND 
HOLDERS THEREOF NEED NOT FILE PROOFS OF CLAIM OR INTEREST: 

la) claims lor principal and interest due under the term of any publicly traded debt securities of any of the 
Debtors, including the 9*,' Convertible Subordinated Debentures due 2001 issued by Storage Technology 
Corporation, the WWi Notes due 1993 issued by Storage Technology Corporation, the 11!#$ 
Subordinated Debentures due I99K issued by Documation Incorporated, and the l2Cf Subordinated 
Debentures due 1999 issued by Documation Incorporaied: 
f b) interests asserted by holders or owners of thecommon slock of Storage Technology Corporation based 
on holding or owning such stock: 

fir) claims and interests which are listed but not listed as disputed, contingent or unliquidated in the schedules 
of liubilities heretofore filed with the Court by the Debtors: 
fd> claims by present or former employees of any of the Debtor, for prepetition wages, salaries, orexpenses 
that have been authorized for payment pursuant to this Court's orders: and 
(cl claims of the Debtors against any other Debtor of any ot its affiliates. 

If a holder of any equity security or any debt security asserts any claim against any of the respective Debtors, 
other than the claim or interest evidenced by the debt security or the share certificate, such holder must Pile a proof of I 
claim by October 12. 1985. Thus, any claim for rescission of the purchase or sale of a security or for alleged damages 
arising from the purchase or safe ofa security and any claim against the Debtors arising in connection with limited 
partnership interests in Storage Technology Partners or Storage Technology Partners II must be filed. Persons asserting 
such claims should not rely upon a class representative, if any. to file a proof of claim on their behalf. Each person 
asserting such claims against any of the debtors should file an individual proof of claim. 

To be deemed properly filed, a proof of claim must be Hied with (he Clerk of the United States Bankruptcy Court. 
1845 Sherman Street. Columbine Building. Fourth Floor. Denver. Colorado80203-1 190. Claims are not deemed died 
until actually received by the Clerk. CLAIMANTS WHO HAVE ALREADY FILED THEIR PROOFS OF CLAIM 
SHOULD NOT FILE A DUPLICATE CLAIM. 

AN Y CLAIM NOT PROPERLY FILED WITH THE CLERK WITHIN THETIME SET FORTH ABOVE 
WILL BE FOREVER BARRED FROM SHARING IN THE ESTATES OR BEING TREATED AS A CLAIM 
FOR PURPOSES OF VOTING OR DISTRIBUTION. 

A full copy of the Court's Order may be inspected at the Office of the Clerk, at the address listed hereinabove. 


BRUCE H. SPECTOR and BRUCE BENNETT Members, 
of STUTMAN, TRE1STER &. GLATT PROFESSIONAL 
CORPORATION, 3699 Wifahire Boulevard. Suite 900, 

Los Angeles. California 90010 
STEVEN SNYDER, a Member of 
HOLME ROBERTS & OWEN 
1700 Broadway; Suite 1300 
Denver, Colorado 80290 

Attorneys for Debtors and Debtors in Possession 


(CDRs) 

Hms indosiaMd smoanca tha n from 16th 
AnculliwS *> Km- Awocane N.V„ Spot 
St 172. AmtenUm. fiv-TO-nu. 22| [» 
CT» mp«ri«l b» BB "AUtdlVll J of titt CDR* 
liimltomo Htttt TniV—-’** lj ^- *- in ** 
oitaHc with DU*- £31 net per CDB, 
££vl00 oh*. ™d wM» Ma.2840 net 
mTcDR. repr. L00Q th*. (div.per re- 
[aridae (aSEmK groaa Yen a5pjhj 
■liar deduction of 15* Japanese In - Yea 
37,50 - Dfk. -,49 per CDR. rear. 100 ihx, 

Yen37!v - "F L °°° 

■ta. without an AJJabml 20* Japtw - Yea 
SO,. ■ Dfk. -.66 per CDR, u 100 sfo. 
Yen 500.- - D0s.6j6O per CDR, rar. 1.000 
■Ik. will be deducted- Aflw IQ3L1985 the 
<fiv. trill only be paid under deduction of 20% 
hp.cn with laojflMfc 2A4i DQl 26.40 net 
m CDR. repr. rtsp. 100 ud 1.000 da. each. 
In accordance with the Jipanew tax regula- 
tions. 

AMSTERDAM DEPOSITARY 
COMPANY PLY. 

Amsterdam, 2nd August, 1965. 


Floating-Rate Notes 


Dollar 




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For further information call 
Storage Technology Corporation: 
(303)673-5107 
(303) 673-3363 


DATED: August 12. 1985 


STOCK USS US* 

DeVoe-HoIbdn 

I memadoHil m 6V4 7% 

Gty-Qock 

(irt malimal UV 2% 3% 

Quotes as of: Angust 12, 1985 


investors seeking above average 
capital gains in global stock 
markets can simply write us a 
note and the weekly 
INVESTORS ALERT newsletter 
will be sent free and without 
obligation. 


First Commerce Securities bv 
Herrngracht 483 
1017 BT Amsterdam 
The Netherlands 
Telephone: (0)3120 260901 
Telex: 14507 firco al 


ADVERTISEMENT — “ 

INTERNATIONAL FUNDS (Quotations Supplied by Funds Listed) August 12,1985 

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The morainal symbeU Indicate framencr of «DaMMn suppfledttdl -tttffr; tw) -w erittr; (M-W-amttfr; Crt-npWrtr. <0- liuMsff. 




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(Continued From Back Page) 


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Page 15 


fflWWMARIBis 



OECD Says China Hotel Manager Fights Apathy 


«c 


A. 


? rs- 

'■ifise-'S? 






/KrC- 

- 5 


:v - r*: ; 0* Sfttf Frm, Dupnfta 

The <toBai dipped 
■v^yly-Mpnday oq nugor foragn 
: j™^^>TCDiy on & ma r k e t 
■ -rsFv^? U.S. interest rates might 
fAlLtjow and silver moved irowSit 
■ '..•> in reaction. 

; London, the pound was up 
; -■-•■ - jSbaply gainst the dollar. It closed 
. : aifl 3840, upfrom $1 3573 on Fri- 
■;'■■ day- It opened ai S1.3770, and, a 

• ,-v trader said, 14 after Friday nights 

/selling in New York pushed it 
■: down, the dollar “found some 

support around the lower levels.” 

• . . *“ Frankfurt, the dollar was 

r Hired at 2.7984 Deutsche marks, 
on Friday. In 


r~~ 


4^ Si* 


Zurich, -it was valued at 23063 
Swiss francs, down from 23480 
and in Paris it slid to 8365 French 
francs, from 8.660. 

In Milan the dollar was fixed at 


«-7 *•" 


1,879.00 lire, down from 1,895.40. 
Earher, in Tokyo, the doUar ended 
™ day at 237.75 yen, compared 
with 23835 on Friday. 

^ There was some uncertainty as to 
the i causes of the broad decline ear- 
ly ® .the day and the subsequent 
stabilization. 

Traders in Zurich said there was 
a belief that Uj*. rates were about 
to come down again bnt in Lon- 
don, where the market was quiet, 
traders said they were awaiting 
U5. retail sales figures, to be re- 
leased Tuesday, and industrial pro- 
duction, due Thursday. 

Both sets of figures are expected 
to show continued sluggish eco- 
nomic growth in the United States. 
But traders voiced uncertain tly 
about the response to the figures. 
“We do not expect there to be 
much reaction and people are not 


.te Fears franco Will 

Boost Growth 


been in his new job about two bad on order 30,000 shows caps, 
months. His task, is to knock into when we already had 20,000 spare 


sore the numbers will be sufficient 
to push the dollar through 2.78 
Marks,” one said. 

Among other currencies, the 
pound gained against major cur- 
rencies, rising to 3.8765 DM in 
London from Friday’s 3.8425, and 
to 3.1873 Swiss francs, up from 
3.182. Against the mark, it moved 
up throughout the day, following 
opening quotes of 3.848/3.853 

But some traders said the 
pound’s strength was limited. “It 
has traded higher but hasn't man- 
aged to consolidate higher,” one 
sad. 

“Sterling has moved higher on 
the day ana people are saying that's 
enough,” a U3. trader said. He 
added that a British bank base rate 
cut was believed to be some way 
ofL f UPI, Reuters) 


(Continued from Page 9) 

round-ihe-dock daily inspections, . . , , . . - , h _ 

holding supervisors natponsible for S^rintow inlhc morning half 

mnL He tokh' “» to r™ tod ab JS from Hong Kong by its expecting to see the population of 
muit. He qrncklv sot .U iatrew! baa ^ j j 0 j n |. vcn ture partner, Shenzhen weanng Shenzhen Inter- 

r»WWh ■toSeSFn-ft.e-nte S hofeUias rmotoed, and hi Francis Onra .teaMer >j* nation al Hold shown caps on tor 

PARIS — France's economy wdl wioie a 26-page ehaldisl outlining Ceto chain of boutiques m Hong htos. in his firs, few 

groui more rapidly km ga bm ^ basic duties of each depan- K ™^ . ^ Dab y ^times weeks the detmmto 

. * s-t ,-Aa sasansas 
„ saassaes 

i domestic product. ing £ g^ced with well-designed termmed to bring order to his new 
«•«*« i he nut du I of gardens and a fishpond near the assignment 


increase in unemployment, the Par- 
is-based Organization for Econom- 
ic Cooperation and Development 

said Monday 
The gross 

which measures the output 


with the local staff is getting them 

lo understand that the customer is 


^Bgsgg aa-sw 

— k« i n rvrsvni next vear in prisingly dilapidated state, consid- “ e recalled. I tned to get a lawn 

erina 


grow by 1-9 percent next year 
real terms, after a rise of 1.1 P^c^ 11 
this year, the OECD said in its 
annual report on France. 

Bui it also predicted that unem- 
ployment would climb to an aver- 
age or 1 1 percent of the work force, 
more than 23 million people. 


China Revising 
Investment Imps 


Ranm 

BEUING — China is draft- 
ing a large number of new laws 
to improve the climate for for- 
eign investment and calm fears 
of foreign investors about their 
legal safeguards. 

The People’s Daily, in its 
overseas edition, said Monday 
that the laws will apply to joint 

ventures, foreign-own ed busi- 
nesses, foreign trade, maritime 
affairs, companies and bank- 
ruptcy. 

Since C hina opened its doors 
to foreign investment in 1979, 
there have been more than 50 
laws and regulations written on 
foreign economic relations, ac- 
cording to the newspaper. 


THE EUROMARKETS 






flood of Yen/ Dollar Issues Deluges Session 

to the swans, bang willing to offer by Dahva Europe Ltd. It had an 

.7° • "7. . rtoWuMihai 


since few of the staff speak English 

^T'oSy tobetotifthat there and Mr. Darby has .not had time 
-52 i > d y aren’t bwnmowers in Shenz- yet to study Manbiu. 

10 years earher. hen. I stfll find it hard to believe At the moment he has one Hong 

Bui so enthusiastic are Shenzhen ^ 0Uf ; 0 j nl venture partners at Kong recruit For every ihreelocals 
officials, businessmen and even Forestry Ministry don't have a in a staff of more than 300. His 

many foreigners working there that s j ng j c | awmnower . r ro guess I'm wife, Norma, holds English classes vinced that the Shenzhen Interna- 
receni signs of hesitation in Beijmg going to have to go to Hong Kong geared to staff duties according to a uonaTs plan to build a skating rink 

over Shenzhen's development oitiy buy one myself." schedule the couple worked out to- a i his hotel is going to increase the 

spurred greater local loyalty to the Recently he looked down from gether, “so that as few as possible foreign business trade — at the 

liberal experiment that Shenzhen lhe ^dow of his office on the have to attend at the end of long moment more than 70 percent of 

represents. second Floor to see members of his working day.” his guests are From Hong Kong, 20 

On July 26. in a feisty response staff pilfering the decorative gold- Some of the classes for the Chi- percent are from China and 5 per- 
lo statements from Mr. Deng that fish from lhe pond for supper. nese restauiMt staff haw to Sti cent from Japan. , 

Thw ^nnirolT it said, should be Shenzhen’s success was still un- Meanwhile, be personally went from 10:30 P.M. until 11:45, she In the face of Shenzhen s avic 

, j further proven, the Communist Party sec- out and bought rat-traps and set explained Most of the employees problems, he is concentrating m- 

The eSnce of an extremely reiary general of Shenzhen, Zou them out around the hotel building, are tired, and she has a lot of trou- slcad ^ upgrading business sct- 


or 


from 10.5 percent this year. 

It had praise for an economic 
austerity program adopted in 
March 198 j, but it also said the 
government continued to control 
many key sectors of the economy. 


Reuters 

LONDON — The Eurobond 


’A 


vmdv of 1 leaislation un- ErkangT nave an outspoken inter- Then he set out poison for the cats, ble keeping them awake. 

SiSlvwKiimttt a maS^sv- view m a'lefusi dailv newspaper in which were so fat from breaking “So, I’ve m a lot of the most 
, " * iz — cSS aSm and mav dis- Hong Kong. Da Rung Bao. Mr. into the flimsy hotel garbage bags import^twojds to music, sheex- dgn hotels in China, 

terms of up to %-pomt bdow Lon- employers from Zou defended th, rapid consmjc- K tayrndtu. 


vices which he feels will be the key 
to competition among the new for- 




^'f 


a flood of new yen/ dollar 
current issues. The issues totaled 
.neariy 100 billion yen by the dose 


don interbank offered rales in re- market prices were difficult 
turn for being paid in dollars at an lain for all four dual-currency is- 
attractive, pre-set rate. sues. 

As well as having the same cou- In other new-issue activity 


3dng B on tabor."’ii’ said- tionof high-rise buildings in Shenz- 

The organization, which groups hen as necessary to attract foreign 
24 industrialized countries, said lhe investment. 




r - , — — :■<. — - — ~ «t w«| ac nn vm p hie same mu- ■“ — ■" . nriwram had reduced economic ' 5f Shenzhen were a place like 

srondary-market tradmg, deal- poQ fees,^he dnal-ainency pretfitSui^ F^lBMtM Lti jJ,2Eln«. but that recovery « fne years ago- -where cme has to 

Uuin^aJlOJimlhOTbOTd iKue onlv arUa J and Ihere should be no sit on the back of a bicycle to hold 

T ~- r’awmKixii <!rtitn Cn that was . P . ir jde miles who would do business 


plained, “and when they start to 
“The first morning I got up ai 6 nod off, we sing them — numbers, 
AM. io see how many rats Td got, alphabets, verbs — especially 
but lhe local people had already verbs, which Chinese don i like to 
stolen the traps.” he said. 


boosed by T^uStSS^SS. for Ompb^ Soup Gj. ,to »as -JJ™ 

nish of new issues. Many assumed *n,e yen has been trading lately at wdl received by retail mvesiors, ^ 


+rr.i. 


that the new paper would remain in 
the hands of managers for some 
time. The issues are believed lo be 
aimed largely at Japanese inves- 
tors, who cannot buy the bonds 
until six months after their launch.. 


about 238 to the dollar. The only 
difference in terms between the 
bonds were their pricings, dealers 
noted. 

Nomura International Ltd. lead 


The OECD applauded policy- w ith usT he said. 


Among other things, he hopes to 
put together a much-needed for- 
eign businessman's guide to Shenz- 
hen. Although no hotel in Shenz- 
hen can yet offer a telex service, 
there is direct dialling to both Hong 
Kong and Guangzhou, as well as 
secretarial and copying facilities at 
both the Shenzhen international 
and the East Lake. 

Unfortunately, even his best laid 
plans can go awry. 


S J - 


; r . 


IUINA1UUUUIS01LCI U1CU iOUUUL. . . . . . ... 

Syndicate managen said that BMnagpd thrc* of^tbe imrsfcw 
they believed that the dual-curren- dual-oirrenqybmids _25 
cy bonds could attract strong Japa- y® 1 ^ OT 5? ph?h«v 

nese investor demand, noting that percent, 20 b^emyen for 
an of Friday’s issues pay 8pereent " 1M f 

a year over 10 years, nearly 2points ** 
above Japanese gpvemment bond ***& A/S at 101« percen 
yields. - EkapcHi&ians also launched a 

They added that they believed 20 - billion-yen zero-coupon bond, 
that all the issues were related to kid by Yamaichi International (Eu- 
swap t ransactions, generally into rope) LuL, due in 1995. It was 
floating-rate dollars. priced. -.at. 543726 for a yield of 

Some said that Japanese compar 6344 percent 
tries with long-term doUar-financ- ; The 1 other issue was few Hon- 
ing newk might be counterparties eywdl Inc. and was lead managed 


Purc hasin g supplies is a common Part of Mr. Darby s concern is to 
problem for all foreign hotels in get his operation running smoothly 
China, and Mr. Darby has suggest- before lhe onslaught of a throat- 
ed to fellow hoteliers in the region ened hold glut in Shenzhen, ror- 
deakrs added. malm h!Tcwbm®TSaiion.' "nar- Mr. Zou also denied that Shenz- that they combine forces against earn investment of more than 5700 

The 10-year issue pays 10% per- euernal deficits and in- hen depended on “blood transfu- the headaches of Chinese customs million has already put a stram on 

cJt to ™s pricS «l par. It ^EStiu proi? is But it si. funds for itegrowflL regulaUo^bhck-roarketerrii.g.q- ^ort^la atxom^u^ fo 

dosed at a discount of about Vi sa jd thalthe austeritv program He said that in only a few years it regular deliveries sad short sup- resident businessmen. Border . 

point on the market, well inside the . , in -v u[e j ^ siagnaiing do- at traded the equivalent of S2.6 bti- plies. In the meantime, he has had crossings! have now re^ed^jOOO Having laboriously setupanw- 

]*%pokt selling concession and to- and Kowih. Ii.,n in oveSas investment, of So straighten out a few internal a day. He^ys heh^^drf ^ „ (la . ^ u, te 

talfeesofl itsaid arowtii in do- which S7G0 million was already in mysteries at his own hotel propcKals fw another 20 hotels to ^ b phoning the messages to 

_ ” , w !hr t ^ o uvf “1 found out that the individual be built ra Shenzhen soon. * j^ong office, from whence 

tSSESw -ssspfassrs eav®SS awiisasss 

ssi?Esss “.-*«£-{£ ssrSusvss ISSSfiSSSitS “4HU-— 

ttstxtssas gFifSiS-"' iSssSSss sSSSSH *S*5S3 


gish U.S. economy 
The floating-rate-note sector 
showed gains of around five basis 
points. Eurodollar deposit rates 
showed falls of ito to Mi point from 
Friday’s closing levels. 


The OECD also predicted that he's kepi his sense of humor." 
France would have a S-U-bsllion After \ ears of managing hotels in 


Then I found out that the hotel 
had ordered 2,000 new blankets. 



Recreational facilities are keenly er” he said. “Then my desk staff 
valued by foreigners in mainland wanted to charge the guest for th% 
leisure activities are long distance phone calL I said, 
nonexistent. ‘How can we charge him when we 

Darby is not entirely con- didn’t deliveiT ” 



Nri.cL- 


.w: 


Monday^ 



Prices 


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Via The Associated Press '■ 


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Page 16 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 


I 1 I I 1 I I Mu 1 1 


ho In 1 12 Its 


PEANUTS 

I KNOU) EVEHi'BOPY IN THERE MUST BE A 
THIS FAMILY HATES ME ! PLACE IN THIS UJORLP 

m GONNA 60 WHERE WHERE IV BE APPRECIATE?.. 
I'M APPRECIATED! — - 


BOOKS 


1351 f 36 137 


Itptae IMMfMn SVMUKJK 



GIVE ME A HINT.. 



BLOND IE 


’7 r LOVE A HAM 
AND SWISS 
>t>7 SANDWICH T 


(SOT WE WERE 

our of Swiss 


SO WHAT 
DID VOU i 
c 30? ~ . 


2 PUNCHED 

► HOLES IN 

THE 

> CHEDDAR 


genius is rrs 

OWN REWARD 


ImT ST 


ACROSS 

3 Shelf 
6 Aldrich’s 

“Story of 

Bay” 

10 Costa loser 

14 “ for the 

Misbegotten”: 

O’Neill 

15Asourceof 

hope 

10 Venetian 
magistrate, 
once 

17 Obligation 

18 Idle of 

“Monty 

Python" 

19 Gossip 

29 Captives, for 
short 

22 London 
streetcar 
24DoUey 

Madison, 

Payne 
25 Foolishly 
selfish person 

28 Letters of 
credit 

29 Burns's dissent 
39 Scbl. affiliate 
31 Bach’s 

"Brandenburg 

35 Brouhahas 
39 Within: Comb, 
form 

49 Author Garda 

42 Point deep 
down in the 
ocean 


43 Reposes 
45 Element of the 
Great White 
Way 

47 Football 
device 

49 Female ruff 
59 Cry of surprise 
51 Elaborate p.r. 

lob 

57 Copy 

58 Fashion name 

59 A son of Isaac 
69 Tear 

62 Kind of bag 
94 Maxwell etaJ. 
97 Dryad’s home 

68 Memorable 
publisher 

69 Blessed-: — 

79 Cloy 

71 Homophone 
for rose 

72 Impudent 

DOWN 

1 NE Thailand 
group 

2 Bird from 
Down Under 

3 Enclosures for 
strays 

4 -wild 

(lack 

restraint) 

5 Interlace 

9 Robin Hood's 
drink 

7 Nativity 

8 Blazing 

9 Abscond 
10 Say further 


11 Busy 

12 Come to terms 

13 Poet’s rhythm 

21 Growl 

23 TV’s 

Houston 

25 Loraa 

29 Grand 

National Park 

27 Mother-in-law 
of Ruth 

28 Cooler 

32 Terra 

33 Bauxite 

34 Contemn 

38 Canine 

shelters 

37“ 1 Hate to 

GetUD..." 

38 De .old 

car 

41 Keep on 

(tend) 

44 Transmit 

46 Renters 

48 Max Perkins, 
for one 

51 Pub game 

52 “Lulu.”e.g. 

53 Fur-bearing 
animal 

54 A woof-woof 

55 Correct: 

Comb, form 

56 Sesame honey 
confection 

61 Aberdeen 
stream 

63 Suffix with 
host 

65 Response to a 
ques. 

66 Piggery 


BEETLE BAILEY 

HOW ARE THE ] 
MEATBALLS?’ J 




the/ taste like 
hanpballs 


THEM WHY PIP YOU 
GO FOR SECOMPS? 


X LIKE 

hamprall/ 


C 0 ■■■ 


ENGLAND, FIRST & LAST 

By Anthony Baity . 212 pages. SI 5.95. 
Elizabeth Sifum Books! Viking 40 West 
23d Street, New York, N. Y. 10010. 
Reviewed by Jonathan Yardiey 

A NTHONY BAILEY’S second volume of 
xnemons opens in the late fall of 1944, as 
he returns to England after spending four yeais 
in the Untied States. For his mother, who 
meets him in Scotland, the reunion is boh 
joyful and erertKnr u Tbe scvcn-year-cbd boy 
in gray shorts and blue gabardine raincoat to 
whan she had waved goodbye in September 
1940 had become a youth of nearly 12. wearing 
long trousers and speaking in a broad Ameri- 
can accent." 

No one who read and admired this book s 
predecessor, “America, Lost & Found.” will 
want to “England, First & Last,” and 
perhaps it will also bring new readers to Bai- 
iey’svronderfully dear-eyed, affecting autobi- 
ography. 

Back in the reduced arcumstances of war- 
tune England. Bailey must cope with scarcity 
and, even within his own family, “an intermit- 
tent feeling of strangeness, of bang on one side 

of a transparent but definite screen, through 
which I looked at them and they looked at roe. 
At school in Fareham, on England's southern 
* coast, he is ribbed for a while as “Yank” and 
has to relearn another languag e and culture. 

His love for the UmtedStatcs and his Amer- 
ican fa mil y is undiluted, but fim and last he is 
an Fnglid> boy; bis readjustment is speedy. 

Solution to Previous Puzzle 


•in. and happy. Soy .htato a^atotte ds 
normal business of bqy booft * k ”fkq 
friends. learns to sail and develops a rams 


ANDY CAPP _____ 

Jr’d& y"' ~vLt oy W«w* *m*nc* Synd*Jlf 

: t 

-A urvMF.FCT / y- 


HOME, PET 
► — 

•S CUBE B4 

WCWOEDP 


WHO'RE WE KTDDWG? NO MAHER 
HOW /MUCH HESWS HE ICVES ME, 
MORETHAN Hfi PJQB3NS.>OULL 

s NEVBtSSH WStf T) 

y-W V-ONACOLDSTg- 4 
V^UTINS PXME I 
HjC«7D03MEH3ME 


DBHNITEiy 


Bonn 00000 aana 
dchd naaaB aaao 
EEODHD0PCIS □□□□ 
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QaEaaa 11003 
000000 aaoaaaa 
oboe aaa0a □□□ 

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0003 00033 
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none aan030n000 

CDDO 03000 0000 
good 03000 0000 


friends. learns to sail and deye taps a hiri ng 
devotion to boats, exploits toe R aam, and 
' discovers girls and other tonal of adfafcs- 

Ah yes: girls. “Presumably some forte* 
•oaths crew up with an nBtatie Vfwh~ 
£» of the fact that in general, gfefa new as 
imercsied m bovs as boys were is M-Jra d 
not” No one wfio was o nce a sh y. wo wH r ti i 
boy will fail to wince in lecpgniuofiMMqJ 
funny, painful descriptions of hin ^pgaro nfl 
forhmtminlwpesofa^rai^rf4*>t®r^| 
who does not ackaowWge nis easfeaefe , or of 
bicycling miles out of his way pray ing tor a 
chance encounter with a giri whose beauty ij 

“SB^ley^Srses himsdf in sch«* tab 
his studies and his extracurricular activate*, A 
He goes off to Omrchff \ ”a gramarar school ^ 
with a public school or ganizatio n.” and fix 
right in: “In school, as I later found at be 
army, to be ’keen* was the highest yimie, and 
for the moment 1 was keen to participate, keen 
to have a hood m the runmax of things Aat 
affected me. and keen not to be an outsider.'* 

He is a considerable success, bat like mew of W 
looking back to adolescence he does w w® 

discomfort: 

“At this point one trouble with ihmlaug 
about those years is the difficulty of doing aa 
without an upsurge of distaste for t he adote - 
cent one was. which roav color the process of 
recollection unfairly. That was me. ad I 
couldn't help it Pimply. Shy, yet fuA of raff- 
aggrandizing ambition. Incoherent yet warning 
desperately to be artknJaie. Interested in ran- ' 
ous arts yet saturated with arrogant pnjudket 
and philistine feelings With an embanwaed • 
shiver that the passage of 34 years does not 

alleviate 1 see mysdlf on stage in Mr. KecdiKw*s 
production of “The Merchant of Ve nice." an 
the verge of being flummoxed by abso lute 
stage fnght, and yw with the speeches of Anto- 
nio coming out of tne as if from some sort of 
recalcitrant speaking machine. And it is hard 
not to applaud Mr. Kershaw's brilliant casting: 

I am as pompous and priggish as Antonio; 
Shakespeare makes him such a mealy- 
mouthed. seif-regarding fellow." 

That passage is charaneristk of the book, 
and goes a long way toward explaining why 
Ba3ey is such an 3greeable autobiograpner. 

Jonathan Yardiey is on the staff of The Wash- 
ington Post. 


WIZARD of ID 


© New York Times, edited by Eugene Malesha. 

DENNIS THE MENACE 


© 


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GARFIELD 


THAT SCRAMBLED WORD GAME 
• by Hanrt Arnold and Bob Lee 


Unacrambta thsw tour Jam Mbs. 
ckw latter to each oquam, to tomi 
four ordlnny words. 


LYPHS 



HOW'S THE 
COFFEE? , 


IT'S A 
LrTTLE 
WEAK , 


By Robert Byme 

I T used to be common to 
think of the endgame as a 
son of cleanup operation, as a 
way of exploiting material 
gains achieved in the middle 
game. Yet this denies the cre- 
ative endgame the prominence 
it deserves. 

Fifteen years ago, Bobby Fi- 
scher rekindled a trend toward 
forcing a decision in the end- 
game stage itself. This originat- 
ed in his desire not to neglect 
any phase of play that could 
increase his number of tri- 

nmphy 

Fischer's emphasis on the 
endgame has inspired it to 
come into its own. A typical 
example of using the nmgame 
to win is provided by the en- 
counter between Dennis 
Younglovc of St Louis and 
Maxirn Dhigy, a Queens inter- 
national master, in the United 
S tat es Junior C h a m pionship at 
the Manhattan Chess Club. 

The attraction of the Rubin- 
stein system against the English 
Opening. 3 . . . P^Q4 and 
5 . . . N-B2. is that it aggres- 
sively aims for a Maroczy bind 
of the type that Black achieves 
in this game after 12 ... P- 
K4. Because the Maroczy bind 
gives its possessor a superior 
structure m the center, it forces 
tbe opponent to take incisive 
tacticaf action to pry it looser 
For this reason, Yotmglove 


CHESS 

P-QR3, P-N3; 11 R-NI to at- 
tack with 12 P-QN4. Instead, 
his 9 B-K3 had no clear aim 
other than development. 

Had Younglove been able to 
play 13 B-R6, he would have 
relieved some of his congestion, 
but Dlugy’s 12 . . . P-K4 pre- 
vented that while also encour- 
aging an endgame in which 
White's problems were yet to 
be solved. 

After 15 . . . N-Q5, it was 
becoming more urgent for 
White to find active play: be 
should therefore have given 16 
P-QN4 a try. Youngjove's al- 
ternative, 16 N-K4, merely fu- 
eled Blade’s initiative after 
16 . . . P-B4; 17 N-Q6, R-K3. 

After 21 . . . B-QB3.itwas- 
plainly to be seen that tbe black 
knight posted at Q5 was the 
dominant minor piece, but per- 
haps White should have tried to 
endure it, especially since re- 
moving it by 22 BxN, KPxB 
exposed tbe white KP as back- 
ward on a half-open file. 

While Dingy could not over- 
whelm thk target by main 
strength, he kept it under lock 
and key with 26 . . . R/3-K3 
and began cramping the white 
position further with 
29 . . . P-N5! Soon, after 
33 . . . P-B5!, the white posi- 
tion was subjected to powerful 
pressure. 

Dhigys35 . . . P-B6! stale- 
mated tbe while king knight 
and doomed the KP. Young- 
love, in a helpless position, lost 
the exchange with 36 R-N 1, P- 



. rnWwfttfBHfl 

N4; 37 N-R5. B-Q7; 38 N-N3, 
BxR: 39 RxB. 

• DJugy 5 39 . . . P-BS JKts 
surely the most arristialKf (o 
win. After White was paMtod 
to recover the exchange vfiSMO 
NxQP, PxQP; 41 NxR. Rdf, 
he remained with a nan-fauc- 
boiud kxnghi. 

On 42 P-K3. Dfug>- put his 
advanced pawns to use with 
42 . . . NxP»; 43 PxN. P-Q7; 
44 R-Ql. P-B7. Aftera sulky 45 
NxP. PxN. YoungJove gave ap. 


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■- ' 


1 




INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 



Page 17 




% 


SPORTS 






r N 


Green Wins PGA by 2 Shots Over Trevino 




■<* 


-kl ./■ 


fiii 


ea 


_ DENVER _ 

MSttSSS 

OBd on the back nine of Sunday's 
fma] round to win the 67th PGa 
O iarnpionship by two shots over 
^Jrevmo, the defending cham- 

, Gii^ 38, calmly paired the Q- 

a£ seven holes to shoot a 1 -over- 
g ? 12 on the 7,089-yard Cherry 
- H41s Country Club course for a 
*Y Pf 6 -under 278. After 

■ Tr ™P Md bogged the )7tb hole 

-to fall two shots Wk, Greai put 

his approach at the par-4 18th into 
a bunker, but he blasted out tc 
withm three feel of the hole and 

sank the putt 

. .“If- there’s anything Hubert can 
do, u s handle that wedge," Tre- 
vino said. “I*d rather see him on the 
green, 40 feet away, than have him 
with that wedge in his hand. He’s 
about the best bunker player out 
here." 

Trevino, 45, sprayed too many 
tee shots and three-putted too 
many greens mi Sunday. He fin- 
ished 71/280. 

Green — whose triumph earned 
him 5125,000 — had suffered 
through three dreadful years. Be- 
fore Sunday, his only victory since 
1981 had been in last year’s South- 
ern Open. A second major- tourna- 
ment championship ana a renewed 
qualifying exemption may further 
elevate a career that already includ- 
ed 18 titles. . 

“I’m not sure what it means to 


frantic final round, which amount- 


ed to match play after it became 
t Nidi 


apparent that Nick Price (who had 
been within a stroke at one point), 
*om Watson and Fred Couples 

were not going to threaten the lead- 
ora- Watson and Couples finished 
“Partof a four-way lie for sixth, at 
f”' ftice claimed fifth place at 
282. 

There were a number of other 

late charges — Tit Chen of Tai- 


wan, elder brother of U.S. Open 
a 65 to- 


runner-up T.C Chest, shot 

tie for third with Andy Bean, who 
dosed with a 68 — but none that 
cut in on the mam event. “I felt it 
was just me and Lee from the ninth 
hole on,” said Green. 

For three holes starling with the 
seventh, Trevino and Green waged 
an old-fashioned shot-for-shot 
challenge. The huge galleries were 
thrilled by the exhibition of two 
fine golfers with unorthodox styles 
dazing each other. 

They were tied at six under for 
the tournament when the dud be- 
gan. Price was right behind at five 
under and even briefly joined in the 
fun. 

Those three hit drives within six ■ 
feet of one another in the fairway of 
the 405-yard par-4 seventh mile, 
which has a slight left dogleg. 
Green hit his approach first, his 
hall bouncing over the back of the 
green and into deep grass three feel 
beyond the putting surface. Tre- 


vino got to within 12 feet of the 
hole, Price to within eight. 

The drama grew when Green, 
using his choked-up grip on a sand 

wedge, crouched low and popped 

his ball onto the green; it trickled 
another 30 feet — and into the cup 
for a birdie. But Trevino and Price 
quickly sank their birdie putts. 

Price readied the green of the 
234-yard par-3 eighth hole with his 
tee shot, but Green wait way right 
in trampled-down grass. Trevino 
hit a poor tee shot into a front 
bunker. Green hit first and dripped 
18 feet past the dip. Trevino blast- 
ed to within four feet of the hole, 
putting pressure on Green. But 
Green sank bis par-saver and Tre- 
vino made his up-and-down par; 
Price two-putted for par from 35 
feet. 

a 

The best shots in the duel came 
at the ninth, a 438-yard par-4. 
Green and Trevino drove the fair- 
way bat Trevino was quite short. 
Price drove into the right rough. 

Trevino’s 200-yard approach 
stopped 15 inches from the cup. 
Great couldn’t see the shot because 
the putting surface is not visible 
from the middle of the uphill fair- 
way. But he heard the roar — and 
then hit a 180-yarder to within 18 
inches of the cup. That drew an 
even loader roar from a crowd wit- 
nessing the best stretch duel in a 
major tournament this year. 


"That’s what it’s all about," said 
Green. "Lee hit one stiff, and 1 
came right back and hit one nearly 
as close." - 

Both Green and Trevino sank 
their birdie putts (Price had a bo- 
gey 5) and made the turn tied for 
the lead at seven under. Trevino 
bogeyed from a bunker at No. 10, 
and Green was a shot in front with 
eight hales to go. 

Green bad lost his three-stroke 
lead over the first five holes, and 
fell to one back at the 543-yard par- 
5 fifth when Trevino recorded a 


was a flyer out of the grass; bis ball 
rolled off the back of the green. 
From a downhill lie, Trevino 
pjtched to within four feet of the 
pin, but bis chances ended right 
there: He missed tha t short par 
putt and was two shots behind 


Green going to the difficult 491 
"• fini “ 


eagfe 3 as Green was taking 


a Dogey 6 . On the 1 Ith, Green fe 
back into a tie for the lad when be 
bogeyed and Trevino three-putted 
— for a par 5 — from 15 feet 


yard par-4 finishing hole. 

Both leaders remained highly 
critical of the Cherry Hills greens. 
Even after he chipped in from 35 
feet on No. 7. Green stomped off 
and started talking to himself. He 
had hit a “perfect 8 -iron" ap- 
proach. he said, and was still mad. 


"1 was furious — I lost my compo- 
what 


The defending titlist also three- 
putted the 15th (from 12 feet); 


again Green had a stroke lead, but 
this rinv with only three fades to 
go- 

‘The turning point was the 11th 
hole," Trevino said, "and the I5ih 
was lights out" 

Trevino struggled to save par 4 at 
No. 16 when he drove the left 
rough, hit his second shot into deep 
rough short of the green but 
pitched to within Four feet and sank 
the putt Green's par was routine. 

The par-5 17th gave Trevino 
more difficulty as he drove into the 
right rough and remained there af- 
ter his second shot advanced him 
another 175 yards. His third shot 


sure, but 1 couldn’t believe 

was happening. Because the greens 
were tricked up, I never knew what 
to ex pec i. One green would be like 
a brick and the next one would be 
soft" 

Sunday night Green was think- 
ing back to the 1977 season and his 
U.S. Open victory. “1 bad won four 
tournaments the' year before and 
had been among the leading money 
winners for three or four years, and 
it was more or less expected that 1 
would win a major championship,'’ 
he said. 



“This time, I came back after 
being down — I died a couple of 
years ago. It's nice being on top 

again and having friends slop me in vW 

the locker room and say, ‘Nice thb Aaocamd Piea 

game, Hubert.’ ~ (NIT, Wp, LA Tj Contenders in Che main event: 1985 PGA champion Hubert Green, right, and Lee Trevino. 


me yet, "-said Green, who made the 
U S.R\‘ ' 


X'tions 


Blind? 


. Ryder Cop team for the third 
time with his victory. "It’s a little 
like bong on the first hour of your 
honeymoon. It’s great, but you 
haven’t done anything yeL I don't 
think I tan compare this to the U.S. 
Open," which he won in 1977. 
“when I won that, I was at the top 
of my game. . . . ru savor this one a 
hole more. Some folks counted me 
out, but I wasn’t gone.” 

Trevino, who won the 1971 and 
1972 British Opens and the 1984 
PGA, was attempting a rare “dou- 
ble double” in major champion- 
ships. He already has six major 
dries and had been named non- 
playing captain of the 12 -man. 
squad that will meet a European 
team for the Ryder Cop next 
month in England. AH Trevino was 
playing for here was a place in 
history, but h was a place he want- 
ed. >•■■•••- 

“Looking back at it, who 
wouldn’t have wanted to win this 
oneT’said Trevino. “My puttmglet 
me down, bat that's what won it for 
me last year. It tells me I can still 
play the tough oourses" 

Those considerable antes by 
Green and Trenno accounted fora . 



'■ ■■ •• 


buMra-Untod Preo Wwwmonei 


Except for a faceful of dust, Joan Samuel came iq> empty on this steal attempt Sunday 
a gainst St. Tam’s, but the Cawfinahhad to face up to the Phillies’ knocking them out of first 


SCOREBOARD 



Golf | 


Peatf 


PGA Tournament 


Rnal Kores and oaracngcbi toe 47to PGA 
cbamptoMhfe. vMcb nM Saratov oo toe 
7jW-yora PW-71 Ctutn HU* Country CM 
coarse In Dwwr: 

Hubert Green, S13SM0 S7-49-7872— 275 

Lea Trevino, 05400 64-487871— M0 

Andy Bean. MUM 71 -70- 72*8— 281 

Tsn MUns Chen. M2J00 40-7871 -68-2B1 

Nick Prices S2&000 78784871—282 

Fred Couples. 517,135 78487872—283 

Tore Watson. 817,123 67-70-74-72—383 

Buddy Gardner, *17,125 78787W7-2H3 

Corey Pavtn, 817,125 64-7873-60 283 

Peter Jacobsen 812425 6871-7871-384 

Lannv Wodktm. 812X25 7840-7873-384 

Payne Stewarti *9/117 72-72-73-48—285 

Soon Hoetv *94)17 78787349—285 

Tom Kite. MAH 6?.H-7l-70-^ 

Don PoW, wan 73-JWV-™“W 

DOW T swell, *8,017 64-72-77-72 385 

Scott Simpson. OT4I17 7M8-7M3-3B 

Wayne Levi. S&MO 7249-74-71—286 


BOB Glider. *4400 
Cotwin Peete, SUM 
BnkM.Lletzkm.SAMO 
Crals Stadter.S&MD 
While Wood, SSJ40 
John Mahaffey. 85J60 
TX. Chen, ssJte 
Larry Nelson SUM 
Larry Mize, *4360 
ROBOT Mattbie, S4J00 
NlarK O'Meara, MJH 
GU Morgan, S4J00 
Joey StaMar. 54J00 
Halo irarin SUM 
Bernhard Longer, CUM 
Dannie Hammond, SL408 
Jack Mddaus. SUM 
David Graham CUM 
Save Ballesteros. SUM 
Jav Haas. *2*50 
Dave Barr, SM5D 
Frank Conner* SUM 
Bobby Nichols. 51560 
Dents Watson, (BUBO 


73-70-7*49-286 

40-72-75-78—284 

70- 74-72-70-284 

73- 73-74-47— 2BA 

71- 73-7*48—287 

74- 73-71-40 — 287 
73-74-74-44 — 287 
7874-71-72 — 287 
71-70-73-73—387 
40-73-72-74-288 
71-74-71-70— 2B8 
49-77-72-70 — 288 
71-75-71-71 — 288 
7W872-73 — 289 
69-73-76-77—280 
71-76-73-49 — 239 
44-75-74-74 — 280 

75- 70-40*75 — 2B9 

73- 72-48-74—289 
71-75-74-70— 2» 
71-74-72-73—290 
71-73-72-75—201 
75-71-75- 70— 201 

74- 73-74-70—391 


Tim Norris. S2JC0 
Mark Pfeil. SZ500 
Bill Kratzart. SUM 
WOady Blackburn, *1500 
Mark Lye. 0475 
David Darin *2475 
Gears* Archer. *2475 
Danny Edwards, 0475 
Ed Fieri. 51.905 
Howard Twttty. 51.905 
Lon HktfcJe, VMS 
Bill Giasson si ,744 
Fuzzy Zaeller. *1 J44 
Morris Hatobkv. hjm 
N ick Faldo, VM* 

Brett Upper. SUM 
Dave Stockton *1442 
Ben Crenshaw, 51462 
Gary HaUbav, VMS 
Bab Murphy. SI4M 
Mike Donald. 51400 
Don Pootey, SIAM 
Phil Btecfunor. *1434 
Ron Streets, SI 434 


71- 70-74-76-291 

7870- 74-77—291 

72- 71-78-70—201 
72-71-74-74 — 291 
7872-77-73-292 
74487870-292 

7871- 73-74-392 
67-76-73-76—292 
78787871—293 
7877-74-72-393 
78787873-299 
71-7874-73—294 

71- 73-75-75-294 
6874-72-BO — 294 
3877-73-74— 2M 

72- 74-73-75 — 204 

73- 72-77-74—205 
73-72-75-75—295 
73-74-74-74 — 295 
7871-8872—296 
78788871—294 
7871-7870-296 
71-7*8870 — 2R8 
787877-75—298 


DA. Welbrlno, *1436 
Hox Sutton si 436 
Arnold Palmer, *1436 
Mark McNulty, si 400 
Mike Reid. SUM 
Robert Hoyt. S14M 
Kevin Atoms, SUM 
David Gtenz, SUM 
A1 Gelberaer, SUM 
Mike Smith, SUOO 


LEADERS’ FINAL-ROUND CARDS 


Par out 

444 4*3 434-15 

Groan Ml 

445 443 333-35 

Trevino oui 

443 SJ4 33832 

Boon out 

343 443 43834 

Own out 

344 444 43833 

Price out 

444 352 33833 

Peer la 

•S3 443 454-3871-3*4 

Groan In 

463 443 454-37-7827B 

Trevino In 

554 344 44829-71-290 

Bran In 

442 543 44*34—48—281 

Cltenht 

542 350 34838-45—261 

Price In 

464 443 45838—71— 2B2 


Transition 


Baseball 


tup 

put- 


BASEBALL 

American uww* 

CHICAGO— oesiona ted Mlko Stanton 
pMcher, IW reaMtewnenL Acttvoted Joel Da~ 

•, W< k/j!!s^CITY— P laced Pal Sheridan, «d- 
Oekter. an the I8dav dhnhled nst. Recalled 
Dave Lower. autfWder , from Omaha of the 
American Assodatton. 

MINNESOTA— Stoned Sieve Hcwe. Jktrtv 

er. called op Mark Portuoal. 

Tofedoof too 

Rick Ly so nder and AAarfc Brown pnehert m 
Toledo. 

NaHooal Lena be 
MONTREAL— Sent Dauo FrobeL 

er. to Indianapolis of the Amorlam Assoeto- 
,i6n " basketball 

• National BarteBtoll Aisoctoflito 

DETROIT— Aareed to term wl to -W* Du- 
mars. auard. on a mulMvear 
PHILADELPHIA — Named John Gahrw 

°MCfLu 4£N TO— Traded 

momasnter.toMltwaukootorafuturednjfl 

e *S£k- Swnetf Kan Maloae.torward<en- 

ter, re a faur-ww contraef- 
POOT8ALL 

HaMnal FaottWll Locsue 
DETROIT— Stoned Lonnss Brown Wd* 
?SSS^T,_Stened Bill 
nhto re—-**- and Tom Kilkenny. 

nina bock, and Ken 

to. io series of one- year contraa* 


Sunday’s Major League Line Scores 



meH ' 

(At Stnmon. Vermont I 

rtfffi 

Jcre, McEnroe ia * 

(AJ Toronto) 

avis E«i 

Kohde-KDscn IS). W«s) GernwW. 


Football 


CFL Standings 


‘TJT.f p» 

, W 2 0 132 «1 

i 3 ff J75 

ll a 106 I® 

0 107 13? 


PfS 


StetfW" 

j g 0 17. 
3 3 
3 1 
3 2 
0 S 


*5 

o in 

0 144 118 
0 1«3 1|* 
0 44 

U J W 

tehdairs 

iteory 6 


131 


NATIONAL LEAGUE 
SLLoais mm out-i s a 

PWlodetpUa 11* 110 NM 9 1 

Forsch. Boover U) and Nieto: Rawttrv and 
Viral I. W-Rnwlev. 9-4- L— Forsch. *4 H R&- 
PhikKtoiphta, VI roll tin. Scfimktt IW- 
CMcaw 40 OM 000—1 7 1 

Mrw York 203 042 00»-4 0 1 

Bofeiha. Merbfifh (7), Smith (01 and Davis, 
Late <71.* Lynch and Carter. W— Lynch, W-A 
L — Bate! ho, 82. HRs— NSW York. Carter 2 

mteidi l l 

Montreal OM 008-8 0 • 

Tunnel l. Goode (71 and Pono: Laskov. La- 
«9 (7). Bwke (« and Nicosia. W-BuHce.WL 
L— Guarrte, 3-4. HRs-PItteburah, Wynns (2). 

Monfrwd. Dawson (14). 

UueLhin 0*8 2M 033—7 II 0 

SoTweao 100 100 MO— 2 7 2 

ICiwrnnr and Bailey: Hawkins, Letter is (0) 
ato Ktewedv. W— Knopper, 189. L— Howklns. 
14-4. HR*-*»wton. Bdtey W. Dorm Oil- 
aecrenaH OM OM OM-O * 0 

Ik ABpp* MO *10 21*—* 11 0 

McGafffeon Price f7),Humo I7J, power 181 
aid Diaz: Rouss and Sctoscta. V9— Rewa. 187. 

OS. 31. 834— 7 14 3 
M10MM8— I 7 8 
sutler (B) and Benedict. Cerano 
re): Hommoker. Williams (7), Jeffrey «*» 
navis (9) and Brervly. W— Johnson, 1-0. L— 
SlHkJim,M. Sy-Sultar 119). HRs-AIkuito, 
Kanmlnk (ll, MuTOhv (301. 

AMERICAN LEAGUE 
___» 1« ON 108-3 11 I 

flit M3 U»-7 K T 
Toi^l Sdterrer (4). Bair 17). BWOlwer 
IB) and Porrlsh : Hoatmi and Banda. W— Hea- 
mv *11. L— O'Neal. M> 

BM 081 000-1 j « 
**!"”*” 320 1M MK— 4 1 1 

md Moore; Davis. SrtUntf IS). 

MO 000 900— 4 7 1 

l ^’^ L ” BwWrtr ' BMIUHO-S M 1 
IBB Ml 828-3 7 8 

Clemen*, 7-5. BB§ B» MO 8-5 M 2 

l»10ao»»~3« 1 

ILi—dwi HOI and Wtrfhan- w Ncrwa 
f^-jAwtth. 1-S- Hite— Tonmlft- Oliver (5). 

'°Z^L Q5BIBJMMM 0 

Boamora w ]H} qm— 4 IB 2 

T ^^u«iinee, S- Stewart (51 Dompaev. 

(2). Harris IT). 

P ^?Jt '/* i^PefroilL W-S. Stewart, 84. 

H Rs Texas. Walter (31. 
JiTwMU- Baltimore. Yauno «S1- 


Oafckmd MO OM OH-4 11 3 

Seattle 100 000 00*— P 13 1 

Kroner, Lanoford (3). Mccnttv (7) and 
Heath: SwHt, Vanda Bern (9), Nunez (9).W— 
Swift. 4-6. L — Lanotord, Sv— Nun« (131. 


Major League Leaders 

AMERICAN LEAGUE 



G 

AB 

R 

H 

Pci. 

Brett ICC. 

102 

346 

70 

130 

.355 

Bogus Bos. 

IB7 

432 

61 

153 

JS4 

R. Henderson N.Y. 

93 

363 

94 

124 

347 

MattlnstY N.Y. 

107 

432 

M 

143 

329 

Lacv BaL 

78 

333 

4B 

104 

JIB 

Wh! taker Del. 

104 

425 

7B 

134 

J15 

Caiman Bos. 

9B 

325 

47 

100 

JOS 

P. Bradley Sea. 

104 

425 

61 

131 

JOB 

Butter Cte. 

109 

433 

70 

132 

JOS 

M. Davis Oak. 

104 

381 

73 

ns 

JIB 

rims: R_ Henderson, New YorfcW; Rlptei. 
BtttUmone,7B; Whitaker, Detroit. 78; Molitor. 


Milwaukee, 74; Winfield. New York. 74. 

BBIs: Matt [notv. New York, 90; E. Murray, 
Baltimore. BS; Winfield. New York. 78; Rip- 
ken, Baltimore, 77; Baylor. Now York, 7S. 

Hits: Boobs- Boston, 153: MatthtelV, New 
York. 142; Wilson. K an sas atv,134: Whitaker, 
Detroit, 134; Butter. Cleveland. 132. 

Doubles: Mattingly. Now York, 35; Buck- 
ner, Boston, 32; BOOBS. Boston, 31; Cooper, 
Milwaukee, 29: G. Walker. Odessa. SB. 


NATIONAL LEAGUE 


Major League Standings 



G 

AB 

R 

H 

Pet. 

McGee St. L. 

102 

403 

75 

Ml 

JSO 

Guerrero LA. 

IDO 

S4 

77 

117 

J31 

Herr St.L. 

104 

390 

44 

137 

JIB 

Gwytm SJ3. 

105 

428 

50 

131 

JIM 

Cru* Hln. 

97 

380 

47 

115 

J03 

Parker CJn. 

107 

424 

55 

1» 

JQ2 

Hernandez N.Y. 

10A 

392 

58 

117 

298 

Badutwn N.Y. 

93 

317 

5B 

04 

J97 

Doran Htn. 

104 

414 

57 

133 

J07 

Raines Mon. 

103 

399 

74 

117 

J93 

Sandbora ChL 

101 

410 

73 

120 

J93 


AMERICAN LEAGUE 
East DfvbdM 
W L 
70 *1 
£2 47 
58 51 

54 53 

55 S3 
40 58 
34 73 

West Otvfslto 
CalHomto 63 44 

Kamos Cltv w 

Oakland ® ® 

CWc ago 5* 53 

Seattle » SP 

Minnesota 48 50 

Texas 4 * « 


Taranto 
New York 
Detroit 
Boston 
Baltimore 

Milwaukee 

Cleveland 


Pet, GB 
JJl — 
M 7 
sn it 

514 13 
SK U’A 
-456 19 
330 33 


sn - 
M m 
SU 4 
JOS B 
459 13 
449 14 
M 72 


New York 

5L Lout* 

Montreal 

aiksoa 

PWlodotehla 

Pittsburgh 


NATIONAL LEAGUE 
East DtvNIoa 
W L 
66 42 
4$ 43 
43 48 
$4 54 
51 58 
33 74 

West Division 


Pci. GB 
All - 
M2 1 
-564 5 
J 00 12 

468 Iff* 
JOB 32Vi 


ua Anodes 
Undrawn 
San Dteoo 
Houston 

Allan fa 
San Francisco 


54 

44 

m 

— 

57 

51 

JOB 

7 

58 

52 

sn 

7 

51 

59 

444 

14 

40 

50 

454 

15 

42 

68 

JB2 

23 


PITCHING 

Won-Lut/WIntatePcf^ERA: Franco, On- 
drawtL 81, .900, US; Welch. Las Armeies, 81. 
m. iJM; Gooden. New York. 183. -857, U4; 
Hershtsor, Las Angeles, 12-3, 8S0. 243; Haw- 
kins. San Dteoo, 1*4. J7B, 115. 

Strikeout; Gooden, New York, IfiB; Ryan. 
Houston, 161; Soto. OnctonatL 15B; Valery 
mdo, Los AflflekHL 151; Darling, New York. 
122 . 

Sant: Reardon, Montreal 29; Lo.Smltti 
Chicago, 23; Gossase, San Dlega 21; Power, 
Cincinnati. 19; Sutter, Atlanta. 19. 


White Sox Reach Down, Pick Up a Victory 


Compiled by Our Staff From biipaHha 

CHICAGO — The fourth-place 
Chicago White Sox, sitting eight 
games off the pace in the American 
League West, reached down to the 
minor leagues Sunday in an at- 
tempt to move up in the standings. 

Joel Davis and Joe De Sa. both 
called up Sunday from Chicago's 
Triple-A affiliate in Buffalo, New 
York, keyed Chicago’s 4-1 triumph 
over the Milwaukee Brewers. 

Davis, 20, pitched a five-hitter 
over seven innings and De Sa 
chipped in one of three White Sox 
home runs. 

After losing five straight for Buf- 
falo to drop to 2-5 with a 4.79 


BASEBAIX ROUNDUP 


eamed-run average, Davis was a 
little awed at makin g his major- 
league debut Sunday. Being called 
up “was the last thing on my 
mind,” he said. “I was on a plane 
about an hour after they told me, so 
it was pretty fast” 

. “It feds like a shock,” said Da- 
vis. “After the first baiter (Paul 
Molitor, who struck out] I calmed 
down.” 

Davis, who started the season 
with Chicago's Double- A team in 


Glens Falls, New York, impressed 
both benches. “He went after the 


a sixth-inning run for Milwaukee 
— the only one off Davis. 

Greg Walker, the designated hit- 
ter, bomered in the first inning to 
stake Davis to a 2-0. De Sa ho- 
mered in the second in his first at- 
bat since being recalled to spell 
Walker at first base. Carlton Fisk 
became the seventh player in White 
Sox history to hit 30 home runs in a 
season when he put a 1-0 pitch into 
the left-field upper deck in the 
fourth. Fisk is tied for the major- 
league home run lead with Atlan- 
ta's Dale Murphy. 

All three Chicago homers came 
off Ray Bunis, who recorded his 
1 , 000 th career strikeout when he 
fanned Ozzie Guillen in the fourth 
inning. 

Yankees 5, Red Sox 3: In Bos- 
ton, Ron Guidry became the Amer- 
ican League's first 15-game winner 
as New York completed a three- 
garne sweep of the Red Sox and 
stretched their winning streak tosix 
games. Guidry, who has won 13 of 
his last 14 decisions, allowed seven 
hits and three runs (two of them 
unearned) in his 7Vi innings. 

Bine Jays 5, Royals 3: In Kansas 
City, Missouri, AI Oliver and 
Garth lorg hit lOth-inning home 
runs off Joe Beckwith, ending To- 
ronto’s two-game skid and snap- 
ping the Royals' winning streak at 


four. George Bren homered in the 
Kansas City eighth to tie the game, 
3-3; Hal McRae singled and pinch 
runner Lynn Jones was cut down at 
the plate for the third out of the 
innin g after Steve Balboni doubled. 
Reliever Tom Henke was the win- 
ner, allowing three hits in 2 % in- 
nings. Henke had not given up a hit 
in eight previous innings since 
coming up from Syracuse of the 
International League, where be 
yielded only 13 hits in 5VA innings. 

Mariners 9, A’s 6 : In Seattle, Al 
Cowens and Dave Henderson each 
drove in two runs to highlight an 
eight-run third that carried the 
Mariners. Rookie Billy Swift al- 
lowed all six Oakland runs and six 
hits in the first inning, but held the 
A’s to three more hits over the next 
seven in ending a personal five- 
game losing streak. Trailing by 6-1, 
Seattle sent 13 batters to the plate 
in their big inning, which included 
rwo Oakland errors, Henderson's 
tworun double, Cowens’ s two-run 
single, run-scoring angles by Alvin 
Davis and Bob Kearney and a 
bases-loaded walk to Phil Bradley, 


Ranger second baseman, that al- 
lowed two runs to score. 

Mete 6 , Chbs 2: In the National 
League, in New York, Gary Carter 
hit two two-run homers to help the 
Mels complete a three-game sweep 
of Chicago. New Yore has won 


seven straight and 13 of 15; drop- 
w, the 


ping their seventh in a row. 

Cubs fell 12 games behind the drvi- 
sfon-leadmgMets. 

Phillies 4, Cardinals 1: In Phila- 
delphia, bases-empty home runs biT 
Ozzie Virgil and Mike Schmidt 
backed the six-hit 


l pitching of 
Shane Rawley as the Pnillies ended 


a four-game winning Sl Louis win- 
ning streak and dropped the Cardi- 


nals a game out of first place in the 
Eastern Division. Virgil doubled to 


who had four bits on the day. 


7871- 77-7B— »a 
69-75-76-78- 29B 
75-787874-29* 
74-7877.75—299 
7875-7877—299 
7874-7877—308 
7J-74-7877— 301 

7872- 7879—302 
74-788875—302 
71 -76-8875- J05 


hitters real good,” said Coach Jim 


Ley land, serving as manager in 
place of Tony LaRussa. who was in 


the second day of a two-day sus- 
pension- After the second inning, 
Ley land said, “He got under con- 


trol and kept his poise. It certainly 
was a great day for Joel Davis.” 


Triples: Wilson. Kansas Dlv. 16; Butter, 
Oevolond, II; Puckatt. Minnesota, TO; Coo- 
per, Milwaukee. B; 5 Iteti wire 6. 

Home Rum: Fisk. Chicago. 30; Da. Evans. 
Detroit. 24; Balboni. Kansas Cltv. 24; G. Tho- 
mas. Seattle. 3 *; Presley, Seattle, 34. 

Stolon Boies: R. Henderson. New York, 51; 
Pettis. California, 34; Wilson. Kansas Cltv.33; 
Sutter, devetond. 32; LSmtth. KonsosCltv.27. 


“The kid has a hell of an aim,” 
said George Bamberger, the Mil- 
waukee manager. “He was a young 
kid coming in and he threw 
strikes.” 

Davis survived a shaky second 
nming , which he started with his 
only two walks of the game, and 
went on to strike out six before 
turning the game over to Dan 
Spillner. “I wanted to take the pres- 
sure of finishing (he game off him,” 
Ley land said, u we were to lose 
the game, Davis wasn't going to 
lose it.” Bob James pitched the 
ninth for his 19th save of the year. 

A two-out single by Cedl Cooper 
and a double by Ben Qgjivie, the 
1.500th hit of his career, produced 



Indians 7, Tigers 2: Neal Heaton 
scattered 1 1 hits for his first victory 
since July 8 and struck out a career- 
high 10 as the Indians got past 
Detroit Heaton's lidding error 
helped the Tigers to 1-0 lead in the 
first but Cleveland tied the game in 
the second on a sacrifice fly by 
George Vukovidh and took a 2-1 
edge in the Child on JuSo Franco's 
RBI single; 

Angels 12, Twins 0: In Minne- 
apolis, Brian Downing had a bases- 


loaded triple and Rnppert Jones 
and Gary Pettis each had two RBI 


Carlton Fisk 
. . . Home run No. 30 


singles to help John Candelaria 
breeze to his first American League 
victory. Candelaria, a 31-year-old 
left-hander and a 10 -year veteran, 
won 124 games with Pittsburgh be- 
fore the Angels acquired him on 
Aug. 1 

Orioles 9, Rangers 4: In Arling- 
ton, Texas, Mike Young went 3- 
for-5, including a three-run home 
run. to lead Baltimore's 14-hit at- 
tack. Winner Sammy Stewart al- 
lowed two hits over the final 4 W 
innings in relid of starter Dennis 
Martinez. The Orioles chased Mike 
Mason and scored five tunes in (he 
second with the help of a two-base 
error by Wayne Tolleson, the 


lead off the third, moved up on 
Rawley's single and scored on a 
Juan Samuel’s ground out io put 
Philadelphia ahead to stay, 2-1. 

Expos 6 , Pirates 5: In Montreal, 
Andre Dawson’s three-run home 
run in the ninth -—his third homer 
in two games — gave the Emos 
their triumph over Pi ns burgh. Scot 
Thompson singled to start the 
ninth off reliver Cedho Guante, 
who had handcuffed Montreal in 
the seventh and eighth. One out 
later, Vance Law doubled before 
Dawson's 14th home run of the 
year gave reliever Tim Burke his 
seventh victory in seven 1985 deci- 
sions. 

Astros 7, Padres 2: In San Diego, 
Mark Bailey and Bill Doran both 
homered in a three-run eighth to 
power the Astros past San Diego. 
Bailey’s shot off Andy Hawkins 
opened the inning and broke a 2-2 
tie; Doran homered after winning 
pitcher Bob Knepper had angled. 
Doran had three nits, including a 
run-scoring double, and drove in 
three runs. 

Braves 7, GEants 4: In San Fran- 
cisco, pinch-hiiter Rick Cerone's 
sacrifice fly broke a +4 lie and 
triggered a three-run eighth-inning 
rally that boosted Atlanta past the 
Giants. Rookie right-hander Joe 
Johnson went seven innings to gain 
his first major-league victory. 

Dodgers 4, Reds 0: In Los Ange- 
les, Enos Cabell drove in two runs- 
and scored another io support Jer- 
ry Reuss’s six-bitter. Reuss faced 
only 31 batters in registering his 
third shutout of the season and 
No. 37 lifetime. (UPI.AP) 


VANTAGE POINT/ Thomas Bonk 


PITCHING 

Woa-UKt/Wtentog Pct/ERA: Bhrttas. 

Oak land. 0-2,31X3X3; Guidry, Now Yark.l&4, 
JK.U1; Ramanlck. California, 18& J2J.114; 
Saberhaoen, Karoos Cltv, 185, J22. 235; 
j. Howell, Oak laid. 9-4. *92. 1.95; Key, Toron- 
to. 0-4 3*2. X6L 

strikeouts: Morri*. Detroit. 137; Blyieven. 
Minnesota, 135; F. Bamttstar. Ottawa, 127; 
Burns. Chicago. 122; Witt. California. 117. 

Saves: Quteenberrv. Kansas Cltv. 25; 
j.HawelL Oakland. 23; Hernandez. Detroit. 
22; D. Moore. Caiilantta 21; RJahetK. New 
York. 21. 


More Labor Pains: Hockey and Basketball and . . . 


Los Angela Tunes Service 

LOS ANGELES — Baseball wasn’t going so 
great a few days ago, and guess what? Things 
may get a lot worse for pro sports fans; this 
strike stuff could spread. 

The other professional leagues are already 
bracing for some problems of their own when 
their union agreements expire. 

The National Basketball Association will lose 
its collective bargaining agreement after the 
1986-87 season, and there are indications the 
negotiations may get sticky. 

The National Football League Players Asso- 
ciation invented the players' union strike in 
1970 — a five-day walkout during training camp 

— and liked ii so much they struck again ml 974 

and 1982, but the football players have a union 
contract with the NFL until the 1987 season. 


round draft choice as compensation. If a free 
agent’s contract is for between $ 100,000 and 
$124,000, his old team gets a second- and a 
third-round draft pick. 

The compensation really gets heavy for any 
free agent who is signed to a contract of better 
than $200,000. The team that loses the free 
agent is compensated by getting its choice of 
either two first-round draft picks or a first- 
round pick and a player chosen from the other 
club — which is allowed to protect only four 
players. 

The hockey players agreed to that deal in the 


The college draft is pan of the Robertson 
Agreement, and the NBA is not really eager io 
get rid of it- “Obviously, we feel the draft is 
important,” said Gary Bellman, general counsel 
for the league. • 

The NBA avoided a player strike three sea- 
sons ago, but that was when the league was on a ' 
lot shakier ground than it is now or promises to 
be in 1987. Carl Scheer, general manager of the 


Los Angeles dippers, believes that a healthy 
league will raise the expectations of the union, . 


Rom: Murphv. A Manta. 90; Ottoman. 
St. Louis. 70; Goerrtnj, Uk Annates. 77; 
Rolim. Montreal. 76; McGm, 51. Louis, 75. 

RBI*: Murphy, Atlanta, O; J. Clark, 
SL Louis, B8; Part or, Cincinnati, 80; Herr, 
SL Louis. 78; G, Wilson. PNhKtolDhla. 69. 

HltK McGee, SLLouks. 141; Gwynn, San 
Dtesa 131; Farter, Cincinnati 72k Herr, 
St. Louis. 127; Garvey, San Mega, 124. 

DaaHtes: WalkxJi, Montreal 29; Parker. 
Cincinnati 27; Hernandez, K*w York. 25: 
Harr. SL Loot*. 25; J. Ocrfc, SL UuiS, 24. 

Triples: McGee, SLLouta, 13; Coleman 
St. Louis, 9: Ralnu, Montreal, B; Samuel 
Philadelphia, 9; Gladden San Francisco, 6. 

Home Ran*: Murphv, Attante, 30; Guerre- 
ro. Los Anodes, 28; Parker , ClncliMOtl, 21; 
Hamer, Atlanta. 20; J. Clark, SL Louis, 20. 

Stolen bom*.' Cotanaa SL Louts 78; 
Raines, Montreal, 43; Loews. Ottawa, ill 
McGee; St. Louis. *1; Redus, OndmotL «L 


The hockey players have been the first to 
icks. Only minutes after the base- 


rattle their sticks, 
ball strike was announced, the National Hockey 
League Players Association threatened to call its 
first strike unless major contract changes were 
made by dub owners. 

Bui wait. The NHLPA said it wouldn t strike 
until the 19S6-87 season. Thoughtful of them to 
give so much notice. 

And over what issues would the hockey play- 
ers strike? Why, for true free agency and agarat 
compensation, of course; which seem to be what 
most sports strikes are about 

Alan Eagleson, head of the hockey players 
union, said his clients also want a better pension 

plan. But the red problem is with the compensa- 
tion categories in the current colkcuv^bargare- 
ing agreement between the union and the wnL 

The union argues that compensation discour- 
ages teams from purring free agents and ihus 
keeps player salaries down, tinder the rules, a 
team that loses a free agetu to another team 
receives compensation according to the amount 
of money for which the free agent signs. 

For instance, if a free agent signs with a new 
team for up to $ 99 , 000 , his old leam gets a Unrd- 


The most secure league is 
the NFL, which hardly 
seems fair, since football got 
ns into this strike mode in 
the first place. 


first place because they figured they had no 
bargaining power anyway , but if you want to see 
the future of free agency and compensation, 
check out the NBA, winch has never had a 
strike. Yet, 

After the last game of the NBAdiampionship 
series sometime in June of 1987, all hell will 
probably break loose, and nobody knows what’s 
going to happen. The Robertson Agreement, 
which is die leagu e 's collective bargaining agree- 
ment and basically affects fine agency, will 
expire then, and so will the salary cap. 

Larry Fleisher, general counsel for the NBA 
players’ association, is setting his sights cm a big 
target- He would like to do away with the draft. 

“We would act to eliminate all restrain is” of 
player movement, Fleisher said. “A player 
should be like any other American seeking em- 
ployment with whomever he wishes.” 


perhaps to a level that could mean big labor- 
pains for the NBA. 

“Before, when we averted a strike, it was for 
sarvival” said Scheer. “We’re over our earlier 3 
problems, but it’s like anything else — when the * 
league becomes more successful the players 
want a bigger piece of (he pie. I suspect that’ 
would mean the players and the players' assori - 1 
anon would want to talk about some pretty; 
large increases.” 

At the moment the most secure professional ; 
league is the NFL, which hardly seems fair,- 
since football got us into this strike mode in the 
first place. Tbe NFL’s labor contract with the 
players’ union is the one that aided a 57-day; 
strike that canceled 98 games in 1982. 

The big issue then was the players' wanting a ; 
percentage of the gross revenue. They didn't get . 
it but they settled for something similar, which 
was tire owners’ guaranteeing to spend a per-; 
callage on player costs. 

Jim Miller, a member of the NFL Manage-, 
moil Council, will negotiate the league’s next 
contract with the players' union. When MiHer ' 
learned of last week’s baseball strike, he won- 
dered about its effect, “if this one lasts any time 
at aB, It’ll really harden the fans, 1 think,” he 
said. “It’s really sad. But maybe something good . 
will come out of iL Maybe our players will thi'nir 
about this strike a couple years down the road,”. 

The way things are going in the walkout- 
business, there may be many more strikes to 
think about. 




r; 






_ . .1 


Y-aa 







Page 18 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, AUGUST 13, 1985 


LONDON POSTCARD 

A Couch in Hampstead 


By Michael Wise 

Return 

L ONDON — Tbe world’s most 
i famous couch is in storage, 
awaiting completion of a museum 
at the spacious red-brick house in 
Hampstead where Sigmund Freud 
found refuge from the Nazis in the 
last year of his life. 

Freud's library, his collection of 
antiquities, and the couch, draped 
with an Oriental carpet, upon 
which bis patients summoned up 
char pasts, will be put in place after 
the Edwardian house has been fully 
restored, a project scheduled to be 
finished by the end of next month. 

Tbe museum will not open to the 
public until next May, but its site, 
where the founder of psychoanaly- 
sis moved from Vienna in 1938, 
where be died and where his daugh- 
ter Anna lived until her death in 
1982, is already an attraction, as is 
the flat at Berggasse 19 in Vienna, 
where Freud developed his theories 
of human behavior. 

The Vienna flat became a muse- 
um after the end of World War II. 
Anna Freud, an important child 

Eer father's posse^ons for display 
there, bat most remained with her 
in the three-story bouse at 20 
Marc&field Gardens, Hampstead. 

As the renovation work nears 
completion, “No Trespassing” 
signs ward off the many zealous 
Freudians who may be tempted to 
beyond the rose bush hedge at 
from of the property. 

“1 could set up a booth out here 
for all the people who step by," 
said the curator, David Newiands. 
As be spoke, a psychology student 
arrived to try for a look around. 

The situation was simitar when 
Freud first came to London at the 
age of 81 “The reception in Vic- 
toria Station and then in the news- 
papers of these first two days was 
most kind, indeed enthusiastic,** be 
wrote. “We are buried in flowers." 

He was visited by eminent scien- 
tists, the Zionist leader Chaim 
Weianann and the writers H.G. 
Wells and Stefan Zweig. Salvador 
Daii came to sketch his portrait. 

Freud had cancer and often had 
to put off guests. He spent many, 
days sitting quietly in the garden. - 
In the just over 12 months before 
he died, though, he fell well enough 
at times to conduct four analyses 
daily, put the final touches on his 
book “Moses and Monotheism" 


and work on another book, “The 
Outline of Psychoanalysis,” which 
be never completed. 

He did all this in a familiar set- 
ting. Tbe Freuds were accompa- 
nied from Vienna by a housekeeper 
who took care to reassemble the 
euensive library and coDection of 
Greek, Egyptian and primitive 
sculpture as they had been in tbe 


& 


it’s put back again," said 
Newiands, “it win fed very much 
the same." He will rely on pictures 
of tbe Berggasse flat taken a few 
days before Lbe Freuds abandoned 
it, and photographs made in 
Maresfield Gardens shortly after 
Anna Freud's death. 

A slight difference is that the 
local borough council has said that 
the top story, with its white-painted 
dormer windows, must be let out as 
an apartment The council has been 
worried that, since so many famous 
people lived in the area, Hamp- 
stead’s bousing could become “fos- 
silized” if many former residences 
were turned entirely into museums. 

The nearby house of the poet 
John Keats is one. Prime Minister 
Herbert Asquith lived in Mares- 
field Gardens, too, and the Fabian 
socialists Sidney and Beatrice 
Webb lived a short walk away. 

Tbe U. S. -based Freud Archives, 
in charge of the bulk or Freud's 
papers deposited with the Library 
of Congress, is spending £800,000 
(a tittle over $1 million 1 ) on new 
insulation, modem lighting and se- 
curity equipment at the Freud 
house. 

Newiands said tbe museum “is 
not going to be a secular temple. To 
some people, it will be. But 7 want it 
to be more than that." Lectures and 
chang in g exhibitions on tbe devel- 
opment of the psychoanalytic 
movement are planned, aimed at 
laymen and psychiatrists alike. 

The books in the library are be- 
ing microfilmed and experts are 
examining annotations Fjeud 
made in their margins. Tbe films 
will make much of the material 
readily available for the first time 
to scholars around the world. 

lbe museum also plans to buy 
new material providing insights 
into psychoanalysis. A museum 
pamphlet cites Freud's sentiments 
on the subject: “A collection to 
which there are no new additions is 
really dead." 

Art Buchwold is on vacation 


Trend Time in the South: From ’Shine to Wine 

By Dudley 

Hew York Ti 


Gendmen 

‘lutes Service 

C LAYTON. Georgia — As a 
chorus of katydids began to 
serenade the fall of night from the 
mountain laurel beyond the cabin 
porch, Tobe, a “white bicker" 
man, held a glass of his host's 
homemade wild fox grape wine. 
All things considaed, he said, 
w rd rather have my old moon- 
shine.” 

Behind the cabin, the mountain 
rose into the Chattahoochee Na- 
tional Forest. “Back in the ’50s Td 
have three or four stills going at 
the same time," Tobe said. He 
cooked his mash into the 1960s, 
and in hidden gullies near clear 
streams in the vastness of tbe 
woods here, other men still do, 
selling 'shine by the gallon jug. 

It r emains a staple of these 
hills. But as Tobe said: “Lot of 
the people I used to sell to, they 
died, because they older than I 
was. You just can’t make money 
at it." He rose, spat a stream of 
brown tobacco juice toward the 
darkening woods and poured 
himself some more mid fox. 

In northern Georgia and across 
the Sooth, the time, the tastes and 
the population have been chang- 
ing. In red day fields beside the 
woods and hills that once held 
stills, a new breed of fanner is 
planting vines. And from Florida 
to Virginia, from Mississippi to 
the Carolinas are wineries making 
wine. 

Tm happy to report that most 
of these states, but not Louisiana, 
have blossomed with vineyards 
and wineries," Leon Adams, au- 
thor of “Wines of America,” said 
from his home in Sausaliro, Cali- 
fornia. “Georgia is a very good 
example." 

The settings of these efforts 
range from modest to magnifi- 
cent. Outside Clayton, Russell 
Dobbins, Tobe’s host, grows 
bunch granes in his garden and 


gathers wild fox grapes from the 
vines that flourish in the woods, 
making wine from them in the 
basement of the rambling cabin 
he built after retiring from Bethle- 
hem Steel He tikes the wine bel- 
ter than the apple brandy the 
moonshiners used to offer him. 

Just a bit southwest, near 
Clarkesville, Georgia, down 
StonepQe Road from the Stone- 
pile Baptist Church, Tom Stick, a 
real estate entrepreneur, has es- 


tablished Sionepile Vineyards. 
Thirty oats (12 hectares) of trel- 
lised vidal, seyval blanc, cabernet 
franc and 23 other varieties of 
grapes roll in a leafy carpet to- 
ward the foothills of the Blue 
Ridge, looming distant in the 
summer haze. For two years they 
have yielded wine. 

Up in Ashville, North Caroli- 
na, William A. V. Cecil has 220 
acres of vines under cultivation 
and a winery in operation at his 
grandfather’s historic Bilim ore 
estate, selling the Chateaux Bflt- 
more label to tourists And to 18 
store accounts in North Caro lina. 

G. R. Ammerman, head oF the 
department of food science and 
human nutrition at Mississippi 
State University at Starkville, said 
there were no commercial winer- 
ies in the region 10 years ago. 

Tbe new commercial efforts 
have not been, as Slick put it, “a 
lead-pipe dneh." He has had to 
battle record droughts, record 
rains, record freezes and the dry 
passions of local Southern Bap- 
tists, who approve of grapes but 
not fermenting them Like Slick’s 
grapes, lbe Bilim ore vineyards 
were hint by crippling freezes last 
winter, and many vineyards have 
failed because of weather, fungus, 
bacteria, public rejection or inad- 
equate financing. 

There were five vineyards in 
Florida a year ago, all of them 
new. Now there are two. But the 
fact of dozens of commercial 
vineyards' across the South, and 
their attempt in the last five years 
to grow European vines, has made 
reality of an old American dream. 

“One of the foremost authori- 
ties of his era on European wines 
was Thomas Jefferson.*' said 
Parks Redwine, a wine judge who 
established the first annual 
Southern Barrel Tasting at the At- 
lanta International Wine Festival 
last October. “At his home in 
Monlicella in Virginia, be at- 
tempted to grow the fine Europe- 
an vines. And every time, they 
would die." 

Now, in Virginia, in the Caroti- 
nas, in north Geoigja, northern 
Mississippi even in Florida, Red- 
wine said, “ Vais vinifera, the type 
of wine grape that all the fine 
wines of the world come from," is 
being grown. 

of Fremib-AnKrican hybrate. to- 




IS?’ 



JoaSabo/Thi Ntw Yort Tm 

Erin Kiney, of Stonepile Vineyard, checking grapes. 


getfaer with a continuing effort to 
civilize the strong, Sweet native 
grapes of the Smith, constitute tbe 
new viticulture of the region. It is 
being aided by research and train- 
ing programs developed at the 
University of Florida and Missis- 
sippi State University. 

Like the moonshine industry of 
earlier years, the new viticulture 
has roots in Prohibition. “The 
passing of the Prohibition law ac- 
tually stimulated the growing of 
. grapes in this country," said John 
A. Mortensen, a geneticist and 
professor of viticulture at the 
University of Florida. During 
Prohibition, grapes ostensibly 
were sold as food, but “people 
were buying the grapes ana mak- 
ing their stuff at home," Morten- 
sen said. 

“This ail happened in the 
1920s, and it stimulated planting 
in Florida like mad," he said. Bat 
the bacteria and funguses of a 
subtropical climate attacked the 


[ual vigor, and like 
itings they began 


vines with 
Jefferson's 
to die. 

In 1933, the Florida 
growers’ association lobbi 
state legislature for money to al- 
low the Watermelon Field Lab- 
oratory in Leesburg to research 
tbe problem. As the vineyards 
succumbed in the 1940s to disease 
and the effect of Prohibition’s 
end. the laboratory began to de- 
velop the first disease-resistant 
grapes. 

It produced several varieties in 
the 1960s and 1970s, vines that 
awaited the interest of those will- 
ing to risk planting them commer- 
cially. The Stover grape, named 
for the scientist who bred it at 
Leesburg in 1968, now flourishes 
among the French- American hy- 
brids planted at LaFayette Vine- 
yard near Monticdlo, Florida. “It 
makes a dam good champagne," 
said Adams, toe California wine 
author. 


American wine consumption 
has quadrupled over the last 12 or 

15 years, Adams said, and as the 
growing national appetite encour- 
aged entrepreneurs to once again 
attempt to establish vineyards in 
the South, Mississippi State Uni- 
versity began producing wine 
makers, 

Tbe enology laboratory there 
was established in the and- 1970s 
by a um vers ty vice president who 
hked wine ana had an empty, cha- 
teau-like building on campus, Ad- 
ams said. Its students are trained 
by Professor Richard P. Vine, 
who learned his art in the New 
York wine region. 

One of his graduates, Russell 
Jones, works for Slick’s Stonepile 
Vineyard producing vidals, char- 
donnays, savignon biancs and dry 
muscadines under the Habersham 
label While Erin Keoey, a Geor- 
gia college graduate, reads the 
vines and Jones worries about the 
cold, tbe wet, acidity and alkalin- 
ity, Slick worries about tbe South- 
ern Baptists. 

The Habersham County Com- 
mission, in a meeting room filled 
with protesting Baptists, refused 
to give Urn a license to ferment 
his grapejufoe into wine in the 
county. The two commissioners 
who voted against it were unfazed 
by the Biblical story of Jesus mak- 
ing wine from water. 

“But that was pure wine," 
ConuaiBianer Hebron Lovell in- 
sisted in a television interview 
about the vote. Of the wine Slick 
wanted to make, he said, “It’s got 
a lot of alcohol it. and Jesus, ev- 
erything he done was perfect." 

The Clarkesville aty fathers 
turned Sick down, too, one of 
them declaring : “I don’t know 
why Jesus did that. It's been an 
embarrassment to me all my life." 

Finally, Slick found a refuge 
for his winery in the town of Bal- 
dwin. From there he continues 
the economic fight for survival. 

For the Southern wine indus- 
try. it appears that where there is 
a will there is a way. As one 
moonshiner in northern Georgia 
told Dobbins last fafl, after bemg 
advised that the weather was 
finning tOO riwH tO allow him to 
ferment the grapes he had gotten 
from an overturned truck: “I 
don't give a damn. If it don’t 
work, I'll run 'em through the 
stilL" 


PEOPLE 


* 


Maria Skiver, 29. 
er and niece of John F. Kttin ®% r . 
plans to many AibpH Srhwua. 
egger. 38. the body tedder known ■ 
for his musde-man redes in f&u 
such as “Conan the Barbarian.”^ 
Rfftiw Herald reports. Shrirer g 
the daughter of the 1972 Demo- 
cratic ^presidential cm tore, 
Sargent Shriwr, and b» wife; (fe 
former Eunice Kensefo 
president's sister. 

□ 

Simon fe Boo. 26, lead sxagerof 
the British band Duran Duraa, aa£ 
five crewmoi huddled in. an xh 
pocket in the hull of his yacht for , 
20. annates alter the craft over- 
turned in gales off Falmouth, En- 
gland. They were freed by a (fiver. 

□ 

The Italian tenor Ludaoo Pavar- 
otti, the Greek mezzo-soprano Ag- 
nes Ratal and the Spanish leoor 
Jos& Carreras plan to participate in 
a charity concert for African fam- 
ine victims Aug. 18 in Verona, Ita- 
ly: A publicist. Don P er rin *, said 
the show would feature the. acton 

Burt Lancaster and Christopher 
Lee as announcers. Meanwhile, or- 
ganizers of last month’s Live Aid 
rock concert announced plans fora 
weddong benefit sports festival 
next May in Birmingham, England. 

□ i 

The Filipino film director Lbo 
Brocks, 46, will receive the 1985 
Ramon Magsaysay award for jour- 
nalism, Iilerature and creative com- 
mtmicatioa arts. An opponent of 
the government. Brocks was jaded 
for two weeks early this year after a 
riot. His 1984 film. “ttayan Ko: 
Kapit sa Patafim" (My Country in 
Desperate Snails), whkh has not 
been commercially released, wo 
vored best film of the year by the 
British Film Institute. Brodca was 
the fifth person this year named to 
receive a Magsaysay award: each 
carries a cash prize of S30.000. 

□ 

Leonard Bernstein took his Hiro- 
shima remembrance concerts baric 
to Europe, sharing the baton whb 
E 3 ji One of Japan in a performance . 
of traditional and contemporary ■} 
works in Budapest. The tour, in 
memory of the atomic bombing of 
Hiroshima and Nagasaki 40 years 
ago, began Aug. I in Athens and 
moved to Hiroshima mi Aug. fi.the : 
date the dty was bombed. 





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SWITZERLAND 


VILLARS 

WINTER & SUMMER 
MOUNTAIN PARADISE 

A e a h nw i A ranging from stedos 
to 4 room. Avtefone For Sole To 
F wty veri- Hgh das residential a- 
eas «vdh magndKent views. Price* from 
S FI 95,000 to STC3S400. Lang tern 
mortgages 0 * 65% interest, 

For cduHuufjonj 

GU36E HAN SA. 


Av. Mon-Repp* 24, 

CH.1005 IAUSANNE, Switzerland 
Tab (21) 22 35 12Tk251B$MGUSCH 
Estofafahed Since 1970 


REAL ESTATE 
TO RENT/SHARE 


CANADA 


TORONTO, CANADA - LUXURY. 
My furnished end mapped 1 & 2 
bedroom mite*. Superior Service*. 
Short term rental*. The MorW Suites, 
80 front St Gaft Ste. 222, Tor an 
M5E 1T4, Canada [416(862-1096. 


GREAT BRITAIN 


COTE D'AZUR MCE. Red Estate 
Agency, buying an apcrtiwtf or a 
wife# Sake a serious problem with a 
serious comperry. Promotion Mozart 
ask Bar our brochure 19 Ave Ai*w 
or Hotel Meriden 06000 Mae. Tet 

(93) 87 08 20 - 81 48 60 


NEAR CANNES, 

Proveopdevif 



astote, 

, 300sqjiL 


sqjn. he no. coretolt- 
sam. lend, summing 
howftRjOOOjlOa Promo- 
Place Mozart, 06000 
“ 08 20. 


NORMANDY. Superb 10-room pin. 
erty, 480 stun, pod, tennis. The whole 
on flOO ha Fi/WOJOO; 32-44 B7 54 


GREAT BRITAIN 


HYDE PARK. PRMCE5 GATE London 
5W7. Bright attradivB 2/3 boefroom 
apartmemi in modern vary wnl wr- 
viced block, from El 70,000 for 87 


HOLLAND 


WORLDWIDE 

Nol MOVK 

FOUR WINDS INTL 

CALL US FOR YOUR NEXT MOVE 
*36 63 11 
578 66 11 


AMSTQVSUCAft SOWHCX De- 
port Wti otter you an apartmertf of 
1 B0 vqjtL, large fivinai room, 4 knd- 
raoms, a study, Itisdwn trrf bc*h- 
room. Quiet neighbowhoacL 10 min- 
utes from center of Amsterdam. Coil 
Hoflcmd (0) 20433129 


S URREY M ST GEORGES HS Wey- 
bridge, renovated 5 bedrooms, 3 
bath*, executive home an 2-aae gar- 
den. Wl/Americon school*. X rams, 
London. £1.900/ raontfi Co bhacn 
~ 6S378 or Weybridge [0933 
113 IK. 


LCN90N. For tic best finished flab 
and house*. Consult the Speridfate 
PKCf^ Kay and Lewi*. Tet South of 
PariT352 8111, North of Pork 722 
5135. Trie* 27846 RESIDE G. 


REAL ESTATE 
TO RENT/SHARE 

REAL ESTATE 
TO RENT/SHARE 

HOLLAND 

PARIS 4R£A FURNISHED 

AMSTERDAM CENTER- Authentic Go- 
od bates. 5 rooms, sunny, modern 
foriili^ror 1 or 2 oduhs only. Rental 
Sept. 1 - Jon. 31. US$600 monlHy^ 
tended. CJ (0)28273747 or 
after 2 pm. 

NEW 2-ROOM APARTMENT Lorn/ 
shortterm, Mtrmporis 3rd}. B.OTQ 
Tel: 272 7434 

SHORT IBM m Latin Quarter. 
No agents. Tri 329 38 81 

PARIS AREA FURNISHED 

1£FT BANK. Large 5 room fia>. nevty, 
on garden. FtljDOQ. Tab 331 1438_ 

Embassy Service 

8 Ave tii Messtoe 
75004 Park 

YOUR REAL ESTATE 
AGENT IN PARIS 

FHOIC 562 78 99 

OH. QUA1S. Studio Fu9y equipped, 
inpeccableu F400Q. tek fill 32rr 

1 6TH. LARGE apartments, hah dome 
R 1^00. Tek 36 29 96 

PARIS AREA UNFURNISHED 

TROCADQtO (NEAR) 

SUPERS 5 ROOMS 170 iqm. 
2 both*. F1&5DQ. 563 68 38 

Elysees-Concorde 

Apartment* / Houses 
Short tom ranfcfa 
HwrioUe from I we eh onward* 

ABP. 9 Rue Bride, 75006 Pori* 
Tet (fj 265 H 99. Trim 640793F. 

VE8SAH1E5 3 KM, 2 estates, 3-5 bed- 
room, parks. P13JDfe 551 0941 

PORTUGAL 

US80N - RBTHO, krary furnished 
c^Kutment Garage, tri 54 94 70 

EMPLOYMENT 

7A CHAMPSaY5aS 8ft 

Studio, 2 or &room opartmert. 
One month or more. 

IE OARDGE 359 67 97. 

GENERAL POSITIONS 
AVAILABLE 

PJL ORKBt 
JOUtNAUST 

taught l» ihe biternatiand .Union of 
Loati Aurioriies. Write far job descrip- 
tion & appScntion form: __ 

UU, 41 Wooppou tnwoa. 2596 CG 
Den Haag, The hWhertonth. 

SHORT TERM STAY. Advenfoga of a 
hotel without "conveniences, feel at 
home in race studio*, one bedoom 
and more in Paris. SCSSIfrt 80 rue 
fa IDmversitfc, (fori* 7lfo 544 39 40 

BRTOR1AL ASSISTANT - typist proof 
reader. Prefer wwd processor expert- 
cnee, Engfah mother imn, met 
have wart pope's- Faro 225 1089 

ST GERMAIN DB PRB. ,18ta Ctintoy 
bukfing. Liring & bedroom, batfi. 
kitchen. Quiet-, Sumy. 3 ■ 6 morris. 
Ccri from Sunday 325 8395. 

NEW LONDON AGfiNCY often posi- 
tion* tor models. Some EngGdi 
rawed. Roam & board overate. Cal 
Theresa 44-1-9383604. 

BEST RATE N PARS. Stuefio to 4 
room ouu tmenfa, 1 week or mere, fa 
provided Tet 306 78 79 


EMPLOYMENT 


GBVEKAL 

POSITIONS WANTED 


GERMAN FASHION MODEL Wefl- 
cdMoted. mJSrouaf, tools for nerf 
■ mtaig position. London 3450090 m 


24, 


MCE MTBUGENT HOSTESS, . . 
bgls forpartenia majrmert* in Lon- 
dtm. ColOl 225(fl5jpm tollptn 


SECRETARIAL 
POSITIONS AVAILABLE 


MIMHTVr SEKS for AMS9CAN 
fVUPreKVC FIRMS m PAHS: 


English, 
se uehn es. 
quired Gjah 
Mlexists. Write 

Wctor Htmo, 7511 
727 61 6V. 


Dutch or German 
of Rend* re- 
id feingud 
phone: 138 AWnue 
6 Pan*. France- Tet 


SracMG YOUNG LADY, with twn- 
puter eKperienoe, mmedBAe employ- 
ment, rtmte rin g salary, mother lan- 


France 


_ Send CV. to: Bo* .... 
Tribune. 92521 Neudy Cede*. 


SECRETARY-ASSISTANT for adverts- 

Enafck Write with CV., photo to: 
Wnorra, DIFCOM. 3 rue RocFtepme, 
79D08Ptm 


TYPIST WORD PROCESSOR. Experi- 
enced. Perfect EncAstv Bean muneefi- 
t*dy. Send CV.^ & expected begfo. 


SECRETARIES AVAILABLE 


OuMM 


758 12 40 


Temporc iy Office 
ronorma 


International Business Message Center 


ATTmrtON EXECUTIVES 
Publish yoor bv li ne n m a na ge 
IntenuRw d HmrtJd fti- 


, whe 


wethtetaUmd 


at a natBan teade n tvnrfrf- 
wviafo meet at wham earn in 
butmem and mduHry, *nS 
read it Jam telex u* (Pail 
61 3595) before 1 flam, •»- 
taring that we eon telex you 
back, <wtd year mena ge wtt 
appear 1 within 48 hours. The 

rate k US 99.00 or had 
oq eh aknt per Ene. Yoo must 
Made c o m p le te and mtSS- 
dbie MRng ud di eu . 


BUSINESS 

OPPORTUNITIES 


BUSINE SS 

OPPORTUNITIES 


IRELAND 


PARS (3) 036 63 11. 
* lOU 


LONDON 


BEAUDART 

Fnmcm * httwnabanal Moving 
FuOy profanm! . Reasonably pnoed 

PARIS (1) 867 42 46 


CONTMEX. Sm£ mows, ecus, bag- 
gage, worldwide. Call Owfe: Para 
Bl IB B1 [necr Operol 


REAL ESTATE 
FOR SALE 


CORSICA 


CAIVI NEAR SEA. 14 stuck* 8 private 
home. Each wuh large terroce, My 
«jwped and fumdwd. Al are set in 
*.000 iq m. perk. Airport, 
center nearby Cd France 
6S02Q7. 


FRENCH PROVINCES 


CANNB PARC MONTHHJRY sto- 
oa 2 rooms, hgh don teraw. pool 
Seling office on site rf Hotel Mont- 
Beurv. 25 Av. fleaujetmr. Tel (93) 38 
67 or Mendio (931 94 55 65. 


CAP FBMAT. Alpes Maritime*. Uuuiry 
°P artn witt. 2 bedrooms, fwmshed, d< 
teef -»arss seo plus nxwnrw for boa* 
W Lorifcn 01439 5543 


ATTRACTIVE HOUSE FOR SALE lo- 
cated in DubSn Mountain*, 13 mites 
from dty center. Hou*e nctetes 5 
bedrooms, 3 reospriqn*. bar. fitted 
& playroom. VMa s q-ft- sdM - 
ed an (war 1 acre with paring & 
pleasure rights wer 590 acres. Mog- 
mfiowtt ponoranc wwi rani 
£160,OT0. Td London 01-580 1077 
during office hours. 


PARIS A SUBURBS 


NEUW.Y-ST JAMES 

on private road. VERY BEAUTHJL 
TOWMOUSE 550 SOM. 

+ garden. Owner (1) 633 82 97. 


MARAIS. Near Plots des Vi 
uuiulvmg + 2badr 
calm, trees, tec. FI 
71 74 after 2 pm. 


85 


SWITZERLAND 


In the charming mounton resort of 

lEYSINb 

RESIDENCE LB FRENES 

OverlortKig a ^tlencfid Afoite ponora- 
to. 30 min. from Mortreux and Lake 
Geneva by cor. 

- you can own quality rnudenoa 
with mdbor svnmraig pool aid 
fitness farifco in an tonal 
enwonroertf for teiswe and sports 

FiMro^a^w SF. rtf w 
up to 91% mortgages. 

PIqqm unhidr 

Residence fo s Frant s. 1854 Uysin 
SW1TZBHAND 

W (025] 34 1 1 55 Th 456l»eLA/r M 


OFFSHORE & UK 
LTD COMPANIES 

Incarportdian and m u toownenl irt UK, 
fate of Mon, Turfa, Angutifo, Cbcrnej 
fafonds, Panama Liberia, Gibreitar and 
mod other offshore eras. 

• Confident** advice 

• in mifatte avtripbJity 

• Nominee services 

• Bearer shoes 

• Bort renraions 

• Aotountma & admintarahon 

• Mail telephone £ ft*a 

''-alsrtaiJaSffi*” 

SHV1CB UD 
Head Office 

Mt PleaHnt, Daogkm, Me of Man 

London fcprwarfative _ 

25 Old BandS-lMon W? _ 
Tel 01-493 4244, Tbe 28247 5C5LDN G 


OFFSHORE TAX SHa7H 

OOMPAFflB 

Paramo. Liberia and RW affihn 
areas. Compto g support fad Ctes. 
Very strict eonfideifcaty. 

Free eorwAotiOfti ^ 

Roger Griffin LLfe, RCA. 


Brochure: 

Western 

hforf 

Tetex 627389 


Viooffo SfoMj, 
2XXB/4. 


PANAMA LIBERIA. CORPORATIONS 
From USS400 ovalsMeraw. TN 
m <} 20240. Tefo« 628352 ELAND 
G.lvicLW. 


SBliNG OSMKAIS. Soh-ers & lob- 
oratory equrpment. Urwerwl Ojera- 
cah & Scwnfs. Ftme (<} 7^3 oC 5 i 
Tb 220064. 


HIGH RETURNS 

U. 5. A. 

From csalaitotion of revofotionory 
iedinofogiooJ breddfiough. Mgh 
Returns E e p e rfu d far DU* 


S ecurity . Material ovaDabtem EngSsh, 
French, Gemai Ful d et uih from 
GLOBE BAN SA, Av. MatMtepos 24, 
CH-1005 IAUSAWE. SvAzerkmi 

Enquiries from Broken W elcome 


CCM. LTD 

Compon it e formed UX.& worldwide 
ndudrig fate af Man. Turin & Cocos, 
AngudJo, Panama ana Lfoerfo. 

Far further mfonratian. please centaet 
e ofr^5 UppteChwch St, Dmi^nUe 

G. 


of Mai. wa Great _ 
(0634) 23733, tbu 627900 


OFFSHORE COMPANIES 

UX. non nmtent eem p gi ei . 
Nonunee cfirectors & Dover share*. 
Go nfid en lki bank account. 

Ful support Janices. 

Panama & Liberian eoapene*. 
Offshore bai 

XP.CJL, 17 Wideggte St. London 
E17HP. let 01 3771U4. Tbe&391 » G 


USA 

BUSINESSES 8 REAL ESTATE 
Burnett tritas; canwad, induitriri & 
readertrd red Hwe -soles & leo ses. 
Property tnaragmerl & buonesi de- 


velopment Write with your require, 
menh & Fmonod Spea to Hircon wty 
& Bumess Brolun. 14795 Jeffrey Rd, 
#210. Irm CA 92714 USA. 
714651 -8w0; Tbu 590194. 


BANKING an large coh 
Joons. The cNy eomwr- 
■adborfcwdh a represensofive office 
in London neoofinng itt Ihhuraa. 
Arab Oversea* Bans & Trust {W.Lj 
Ltd, 28 Bad Prmca Road, London 
SE1. tet: 01-735 8171 


COMPUTER PORTRAIT SYSTEMS 
JSHUno - 2&00Q FC36) and sutple* 
T-shirb, ribboro, patten, eefenaors; 
puses etc. Motor enur cords ac- 
cepted fom L6, Postfach 17U340 
Fiankfurt. Tel 747808 Tv 412713 


BUSINESS 

OPPORTUNITIES 


ANTART1CA MUTU AL SURVIVAL In- 
surance & Trust of World Genenes, 
private stod^ 42 units d $8 rnffion. 
Mr. Ken* Herow. 35D9 des Erofalei, 
Montrsd. Canada 


BUSINESS SERVICES 


WTL 

BEAUTIFUL PEOPLE ■ 

UfUlMfTB) INC 
U-SLA. A WOffiDWIDE 

A oaarptete personal & busness servin 

- of 


pramaliand ocoorionl. 
212-765^793 
212-765-7794 
330 W. 56ih St, N.YC. 10019 
SenriceT 
Needed 


DIAMONDS 


DIAMONDS 

Your bait buy. 

Fine dumonds m any price range 
at tow**} wholene price* 
cSrect from Antwerp 
ranter of the diamond world. 
Fufi guarantee. 

For fees price fat write 


fotabfafwd 1928 

(teOeaamtraot 62, B- 20 18 Antwerp 
Bdrium - Tet P2 3) 234 07,51 
Tie 7T779 syl b. Atlhe Diaroand Club. 
Heat of Antwerp Ormond mdufry 


OFFICE SERVICES 


INVEST 2 WEEKS in Better Health. 
Enter Cardiac Ksk Prevention 
Health B ecu rvWoneig Pr o grarn n 

supervawL Vist Cntan Medkxf Cen- 
tre, Entan near Gcidctiming Surrey 
GU85AL45 nin. LonSn. Ring 
[042)8792231 


HOW TO GET A 2nd PASSPORT, 
report - 12 countries analyzed. De- 

jtfwp w, mpg, nong Nong. 


F INAN CIAL 

INVESTMENTS 


RECXJOCGawnE tENPBtS or fond- 
maiogers to senece prime memdata* 
with prime bank guarantees «i form 
af arm badt promnary note US. 
Ocean or Swiss Francs 10 - 20 yean, 

no broker* pleo» Pnnapab oriy acy 
c*t to Bo, 4lS?UtTjSLora tm, 
bmfo^WC2E9JH or (ten LK83W 


22% ANNUAL EETUSM an average, 
has been generated by the Coribean 
Basil bvestruert Trust's Uni Trad 
ge fed. EUtA; Fnt tnhtnia- 
rod Ga. Ud. ®0, PO 


Bov 302. TOPS Son Jo», Costa 

Tate* 2851. See our ad in today's 
Persona hweeuig sedioa 


WSHS INTERNATIONAL TRACE Mil 
help you to euportor m^ort, or find a 
special product Lai us satvs your 
praWefli Wnte Werfo IrJe-rxnona 
..■idr, V.W Tu. 4-3100 5t 
Efoeite". AuHr-c n < 1 53 1 4 'ti&Yr. A 


P ROJECT FMANCEL MVBTMENT 
oomrary cai arrange axnptete pade 

from Feaublity nudes to cam. 
av Td 01 144 9592 / 385 5492. 
8926. Tcfo. 8751622 TARRCOG- 


COLLATBIAL PROVIDED FOR arb 
tacnepvp«a London based. Tel 01 
744 W2. 3e5 54H. 1): 930 S9?±, Tl. 
SWdft TaRKCO G 


YOUR BEST SWISS 
BUSINESS BASE 
IN ZURICH 

FULLY INTEGRATED 
BUSNKS SBMCES 
CLOSE TO HNANQAL CB4TBI 
Fumohed Offices / Oanforenx Rooms 
Teforimne / Teles / Mol Seram 
ward Procesma t TrandaSon 
Cam pjry forrntrion 
II41BAT10NAL OFFICE 
32 fitoaiMML omm Zundi 
Tefc 01 / 214 6nl. Tlib 812656 1NOF 
MEAUBt WORLO-WR3E 
BUSINESS CENTRES 


EMPLOYMENT 


SECRETARIES AVADLASLE 


SECRETARIES 
OVERSEAS 

TfaougFnut the world we introduce efi- 
cnb to finKbn sc a e M rie s whose fifr 

guntic and racrecanal lids hove been 

moroughiy tested. If you are an em- 
ployer, contort us fev the best adwoe. 
Sertetones-rtAusto u rra ng gonwter' 
view in London. 

lutei national Secretcries 
174 New Bond Street. Lenten W1 
Teb 01-491 ftUI 
R ecru tmen l Comdtotet. 


PERFECTLY HUNGUAL youig tody, 8 
yaon expensncte Ippra A twnr rar 
own correraondenea, goad contorts 
wish people, swla irtferosting positioa. 
Tel! 2617688. preferably Sm. Peril. 


EDUCATIONAL 
POSITIONS AVAILABLE 


AMERICAN UMVB9TY in Paris 
seels purified Ef J- teoeber, void 
worlang papers required. 551 04 BX 


Efl. lerahen. 


_ American 
Itaris 3594131. 


DOMESTIC 

POSITIONS AVAILABLE 


YOUNG LADY to I ata ear* of an 
o pailm ent m Pons + fight coofano, 
free to travel, driving Sams*, free 
mvnedtotely, to day in loath af 
France up to Sepl OJ before naan 
or efier 7 pjsl Paris 288 24 63. 


DOMESTIC 
POSITIONS WANTED 


ENGLISH NAME aged 29. HgWy 
nooimeeded by her prevKM em- 

<hildrw% free rrav. ^frjr^ gcdff 


player for her efficiency, love & care 
to the cHldren. free roe. Try Staff 
Corodtante 7 ffigh St Ahwshoi, 
Ham UKJ02S2 3TB69, (JK tranced. 


AUTO SHIPPING 


TRANSCAR 

THE CAR SHOVING 
SPECIALISTS 

PAWS 

GWhS/MCE 
fRAMCRJRT 
BOMM / COLOGNE 
STUTTGART 
MUNCH 

BKEMSEHAVH>I 

FEW YORK 
HOUSTON 
LOS ANGEES 
MONTREAL 

AOB4TS 

Lean it to ut to brmg it to you 



llO 45 

Ml <3363 
695 7061 
931 7605 
568 9288 
B66 «fl]| 


AUTOS TAX FREE 


COOPS ST JAMES 

' OfTtClAL AGENT 
OF BMW (GO) LTD 

Whde you are m favope, we am after 
canederabb soring* an brand new 
BMW con to motf i pedfioaions. Ful 
haory mmartf. 

We con afao rapphr orf* or left hand 
ie Km free BMWi at tourfat prices. 
VI to atop Bjpaly foamy bidt bufet 
proof BMm m ffie Alpma BMW 
range tax free. 

Cell London (01) 629 6699. 


10 YEARS 

We Deliver One to the World 

TRANSCO 

Keeping a coratont rtoefc af more tixm 
300 braid new an, 
mdring 5000 ' hr^py rtenls every year. 
Send fa free mumcafor ctcdog. 
Tronjra SA. 95 Naordriaan, 

2030 Antwqp. Belflpm 

70323/5426240. Tb3SoS7TXAt4SB 


BJROFORTTAX 
FRS CARS 

GaO or write for free catalog. 
Box 12011 

71 B’CAR m 


T» 

Triax 


EXCAUBUR 

Lee AuluineMee I 

Park Fdacn, Monte Carta 
dr Monro 


stod: Mmxtef, BMW, ASQ 


fame. To 


tr opted 


Britos.' 18. A 

broek. Holland (0(30445^92. 


MW BOO SB, 280 
fist 


21-4774. 


SL 5% 
Tbe 


NEW^H 

1 export UK. 


AUTO CONVERSION 


H»A/ DOT 

OONVBSN3N5 
Cuetamt broigercBe/bondmg service 
«- hdc-up & defiwry onywhem to the 
firatem OS. & Texas 
ftofranond wort usng only the 
iiiiihmst quoOy corapanant* 
Gwroitaed #A / DOT op 
CHAMPAOM IMPORTS 
2294 North Item RA, H 
RA. 19440, USA Tet 21* S 
Telex 4971917- “ 



AUTOS TAX FREE 


YOUR HJBiSfS) OFRCE 
M LOrVQN 

•7 day 24 horr asw & atnwptane 

• FuH support urvices inducing: 
seaotand, telex, ooaeag. Me. 

• Corporate ReprewtUiim Swviea 

• Short or long Bnn awfobity 

Hf i I I HtTJ te-ju. p i|jii_ 

■v w nr ■ ■ mb KR*nin unm 

none Sfrwd tteMtea WC2RQAA 
Tel: 01 836-8918 Tbe 24973 


MAR CHAMPS RYSEES 
Rentd with ci offia foafitie*, Wmgaaf 
wtcrdcrres, maBbee, phono, tefec m«- 

30 Av. Geerae V, 75008 Ptorie 
Teh 723 7808 Telex 612225 - 


YOUR OfBCE M PARIS: TSLEX. 
ANSWB8NG SERVICE, tertefory. 

emsnd*. nxribox, live KH'day 

Tel PAT 6099595 


IMPETUS * ZURICH • 252 76 21. 
pfrene -ni'hm 


T R A S C O 

INTERNATIONAL 

LHJ3. Mer c edes To* Free 
Limokiiriw 36 " & 44" 

Amend can and fimawnn 
^oach bub can 
Other mates & exataa 

Over 100 units in rtadc 
Mforld wide stetowy 
DirKl from source 
D.O.T. & EPA 


Tet London 
Tefav (SI) 


629 7779 
IMS G. 


Trasco London Ltd. 

6567 Pork lane, London W.l. 

Wfteriand - UK - W. Germany 


NSW MERCEDES 

PORSCHE, for immediate drfvery 

FROM STOCK 

Bert ienrice. dappfoa meonmee, 
hone, conversion m USA 

RUTE INC. 

TAUNUSSTR. Si 6000 ikankiwt 

W Germ . tel jQ& 122351 U i\ 1555 


BOATS & 
RECREATIONAL 
VEHICLES 


Grade , 28ft. deufafaended 

cutter, varmhed Afriam mahogany 

,dodwdS?Tni 

1)580939 from 4 

ACTRESS'S 60ft YAOfT. CANNES. 
Urgant kU. £65.000. UK 01 -402 8304 


I£GAL SERVICES 


& Rodney, 1925 Bridiefl Av, Mknri FI 
33129. Tel (30g 6439400. hi 441469.1 


LOW COST FLIGHTS 


ACCESS USA 

fa wn Prats C toe Wny R aondTri p 
* 

2sp° 

Dok* 

Montreal US$189 

and more dedmtfions _ 

15% tfacaunt on 1st dns 
PARIS let (11 221 46 94 
(Cor. lie 1502} 



"MfflRBffiHKBSHS, 

Avtours London 01-SI 4451. 


Mom Your CkrasHM Ad Quickly and Gorily 

tatfan 

MTBNATIONAL HBA1D TRIBUNE 


By Ptroo* Gal your heal MT rapremeaffae wrifi your text. Yoo 
wA bn n farmed of the cost mmarfreeriy, and onc> prepayeoeot is 
mode your ocf wfll appera wiiha 48 ham. 

Cwls llwfaaK rale is S9A1 per Gna per dv food tons. Ifm am 
25 letters, egn and Spocesm the teg fi n e wJ 36 m fee falowB^ fan 
M itwn ra n space m 2 fines, hto u bbrow u eora oonitnd. 

Oredfa Cade American Express. Drier s Otob. Eurocrat miter 
Crari, Aocen and Vito. 


HUkDOma 

Parte: (For dartifiad only): 
747-4&W. 


LATIN AMBtfCA 


An m erdm n. 2636-15. 
Athens: 361-8397/360.2121 . 
343-1899. 

(01)329441 


: Aires: -41 4031 

•ass* » 

OMiemfeSl 4505 
Um 417 852 

: a 0511 
! 22-1055 
1 6961 S5 
: 852 1993 


MIDDUEASr 


Fraolrfurt: (069) 72-67-55. 

BatendR 246303- 

Lowed! me. 2 9-5094. 

Kawfafc 5614485. 

LMmm: 67 -27-93/ 66-2544. 

Lebanon: 3*1 457.'8S9. 

iMMfaiu pi) 636-4802. 

Qatar: *16535. 

Madrid: 4S5-2891 /45S-3306. 

Sranfi Arabia. 
Jeddah: 667-1500. 

Mara TO 7531445. 
Norwny: TO ^45545. 

U.AJL* EtoM 224161. 

Rotme 679-3437. 
Sweden fX] 7569229. 

MR EAST 

Tel Aviv: 03455 559. 

Bangkok: 390-06-57. 

Viennas Contact Frankfort 1 . 




UNITH) STATES 


New York (212) 752-3890. 
Wert Goaet; (415) 362-8339. 

AUSTRALIA 


Melbourne: 6908233. 

SOUTH AfiUCA 

Sydney: 929 56 39, 957 43 ZL 
Penh: 32898 33. 

Bryamrtaro 421599. 

Poddmakn, Ovftftcudmrf: 

369343. 


I*',- 


LOW COST FLIGHTS 


NY ONEWAY. 
Writ Coast J1 


HOLIDAYS & TRAVEL 


CHAJOTBI A YACHT W GRSCE D*- 
rort from owner of Iragea Aeon 
Amencon mpnoge m e nt badtece 
crews, riort. bonded. Votef Yacht*. 
J** tfowwta teep w ZK. Piraeus. 
Greece. Tet 4S2K71, 4S946. Tk: 
21-200a USA dBase Fir Hoad, Am- 
bfa. PA 19002. Teh 215 64nax 


BENCH FARM VACATION. Enpy 
none^. argarve tfonfai. v^wonan 
anane m grapoa TTtfi cenrur* ccan- 
— manor. Surrounded by 1M00 


HB1AS YACHTING. Yacht Chartn. 
Acadw»B*28.A8tote 10671, Cram 


HOTELS 


SWITZERLAND 


WO***. GRAND HOTEL EUROPE 
*•** nra vacancies. Free ffrjni 
Tel 041 / 301111 Teier 7265^^ 


The Daily 
t Source for 
Intematioiial 
Investors. 


HOTELS 


UAA. 


TUDOR HOTS, 3K £ori 9, 
New York Gtjr In fo i h mnoUe. Eos' 
Side Mwlmltaa. 1 ,'2 bfoc* from IN 
Stogfo from y^douUn from IBS 
UponrimwKg the ad- 209L ttecouA 
KfrMWlT* 2129866000 


EDUCATION 


iN t 


»r. fashion snjcnr 

show*, eKcranom. FAX 9 ran drt 
Unufaes.PttisStii.Tri 32901 7& 



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PAGE 14 
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classifieds' 


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