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No. 31, 970 





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lit - * 1 

’ By Michael R. Gordon 

~ : New r«r* Tbns Senior 

WASHINGTON — ' US. offi- 
riate haw acknowledged that three 
US. nnlilary officers traveled oq a 
C-L30 aircraft to Malta with Egyp- 
tian commandos who carried put 
an assault on a hijacked EgyptAir 
jetliner on Nov. 24. 

Hey said Sunday that the senior 
U.S. military official on the flight 
was General Robert Wiegand, who 
oversees U.S. military programs in 

. -But the officials, who asked not 
to fae named, said the US. officers 
who accompanied the Egyptians 
were not specialists m counterter- 
rorism and did not take, part in the 
effort to retake the aircraft 

two US. olfcers were in Malt&at 
the time of the assault A total of 50 
persons were killed dating die hi- 
jacking. 57 of (ham m the assault 

The U.S.. officers were sent pri- 
marily as a gesture of political sup- 
port for the Egyptians, administra- 
tion officials said. “These three 
men represented United States 
moral support for Egypt” said a 
high-rankiii« official 

Tbe U.S. account was in sharp 
contradiction to one provided on 
Sunday by a senior Maltese official 
in Malta who said that U.S. officers 
helped coordinate the assault by 
the Egyptian commandos. 

The administration has not offi- 
cially disclosed the presence of the 
U.S. officers in Malta. A Stale De- 
partment spokesman declined Sun- 
day to comment on the presence of 
the officers or other operational 
details of the mission. U.5. officials 
spoke on Sunday only after reports 
from Malta about the presence of 
Ihe officers. 

According to accounts provided 
by administration officials; Egypt 
asked for US. support immediately 
after the hijacking of the Egyptian 
airliner began. Behind the Egyp- 
tian request, the officials said, was 
concern that the hij acjring might fie 
port of a larger Libyan action 
against Egypt. 

The officials said that the admin- 
istration took a number of actions 
to support Egypt A decisi o n was 
n«dg to send the US. counterter- 
rorism Delta Force from Fort 
Bragg. New Carolina, to a North 
Atlantic Treaty Organization base 
at Sigonefla, Sicily. 

But administration officials fdt 
that there might not' be enough 
rime for the UJ5. unit to act It was 
therefore decided that the U.S. role 
would be to assist the Egyptians in 
carrying out their own rescue mis- 

The aircraft carrier Coral Sea 
was instructed to provide air cover 
for the Egyptian C-130 that carried 
the Egyptian commandos to Malta 

Stock Crisis 
In Singapore 
Is Widening 

By Francis Daniel 


SINGAPORE — The crisis cm 
the Stock Exchange of Singapore 
spread Monday, with official trad- 
ing suspended indefinitely in Kuala 
Lumpur, Malyasia. Markets in 
Hong Kong and London also were 

The Singapore exchange an- 
nounced Sunday that it was sus- 
pending trading indefinitely fol- 
lowing the collapse of a major 
industrial group. The exchanges in 
Singapore and Malaysia are dosefy 

The crisis, set off when Pan-Hec- 
iric Industries Ltd. was put into 
receivership, with debts of 390 mil- 
lion dollars ($186.6 million), is ex- 
pected to further dampen Singa- 
pore's economy, which has been 
forecast to shrink by 2 percent this 

The dosings of the stock ex- 
changes could affect several inter- 
national stockbrokages, a senior in- 
vestment analyst in Singapore 

The c hairman of the Singapore 
Slock Exchange, OngTjin An, said, 
“The decision to suspend trading 
was taken to cod off the market 
and for the public to digest the 
news" of Pan-Electric’s problems. 

Concern about Pan-Electric’s 
problems also spilled over into 
Hong Kong, where share prices fell 
sharply Monday. The Hang Seng 
index lost 22 points, to end at 
1 ,694.57. News of the market sus- 
pensions also prompted wide- 
spread idling Monday by compa- 
nies with interests in East Asia on 
the London Stock Exchange. 

Pan-Electric, with holdings in 
shipping, property and electrical, 
manufacturing, has 68 subsidiaries 
in Hong Kong, Bermuda, Brand, 
Malaysia and Britain. 

Some Singaporean officials 
questioned ibe wisdom of the mar- 
ket suspensions. They said they 
fear that when the market reopens, 

(Continued on Page 4, CoL 6) 

— in case of a Libyan attack. To do 
this, F-18 aircraft from the carrier 
flew to the base at SSganella so that 
they would be close to Malta, an 
adminis tration official said. 

In addition, it was decided in 
Washington that U&xriEtaiy per- 
sonnel should accompany the 
Egyptian commandos. This deci- 
sion was taken after Egypt's de- 
fense minister, Abdel Haum. Abu 
Ghazala, told the US' ambassador 
to Egypt, Nicholas A. VeHotes, that 
Egypt.wasted sons; form of Ameri- 
can presence as a gesture of sup- 
port, according to U.S. officials. 

“The idea never was that these 
three would participate in any way 
and they didn’t,” said an adminis- 
tration official. 

Another administration official 

(Continued on Page 4, CoL 6) 

Ver, 25 Others Acquitted 
In Aquino Murder Case 

Demonstrators in Manila protest the 26 aoqmttals in die Aquino rwimter case. 

Sakharov 9 s Wife Leaves Russia for Italy 

Yelena G. Bonner at a 
Moscow airport Monday. 

United Pros International 

ROME — Ydena G. Bonner, the 
wife of- the Soviet dissident Andrei 
D. Sakharov, arrived here Monday 
for medical treatment in Italy be- 
fore going on to the United States. 

Mrs. Bonner, 62, arrived from 
Moscow aboard an Alitalia flight. 

During a stopover in MBan, Mrs. 
Bonner said that she could not 
speak about her husband, who has 
been in internal exile in the city of 
Gorki, 250 mi1« (400 kilometers) 
east of Moscow, for nearly six 
years, because she “absolutely 
must return home." 

She had said when she left Mos- 
cow that she had promised Soviet 
authorities that she would not talk 
with journalists during her stay 

Mrs. Bonner was met in Milan 

by her son by a former marriage; 
Alexei Semyonov, a computer sci- 
entist, and her son-in-law, Efrem 
Yankdevkh, who live in Newton, 

. “I can only talk about my 
health,” she said doling the stop- 
over. “I have come for treatment 
for my eyes and my heart after 
having a major heart attack." 

■ Vow of Silence 

WUEamJ. Eaton of the Los Ange- 
les Tones reported from. Moscow: 

Mrs. Bonner said she had agreed 
notnrmeet the press in return for a 
Soviet govemnnsut guarantee that 
she would be allowed to return to 
her husband. 

It was a bargain that allowed 
Mrs. Banner togo to both Italy and 
the IMied Stales far medical care. 


By William Glmbome- ; 

WasJurtgum Pott Serrice 

JERUSALEM — Rafi £2 tan, the 
Israeli intelligence operative who 
has been identified as a key figure 
in the spying case against a US. 
naval analyst, will be made avail- 
able to US. law enforcement offi- 
cials for questioning, highly placed 
Loach sources said Monday night. 

Moreover, senior Israeli officials 
said, four science date-gathering 
offices in (he United States that 
were supervised by Mr. Eitan will 
be dosed once evidence is collected 
proving that they had a dual role of 

running covert hrteQigeoice opera- 
tions in the United States. 

The offices ct the Science Liai- 
son Bureau, known, by the Hebrew 
acronym LEKEM, are in^ Washing- 
ton, New York, Boston and Los 

Two Israeli science attaches, as- 

Yock offices, were recalled to Israel 
following die arrest Nov. 21 of Jon- 
athan Jay Pollard on espionage 
charges after he sought asylum at 

Manned Israeli sources said the 
two d^lcinais, nanRavid and Yo- 

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There hare been reports that Mr. 
Eitan, one of Israel’s . most re- 
nowned intelligence operatives, 
would not be sent to Washington 

Singapore’s stock exchange after trading was suspended. 

would not be sent to Washington 
for questioning, but that FBI 
agents would come to Israel to in- 
terview him. 

A diplomatic source who has fol- 
lowed the case closely also said that 
questioning of Mr. Etan was in- 
cluded in the “generalized agree- 
ment” that Mr. Peres reached with 
Secretary of State George P. Shultz 
before Mr. Peres cm Sunday night 

(Continued on Page 4, CoL 5) 

Airline Incentive Plans Hit Turbulence 

Government, Business Criticize Trequent Flier 9 Benefits 

By Ralph Blumenthal 
New York Times Sendee 

NEW YORK — Kenneth S. Kramer had no sooner 
checked in for a new airline’s inaugural flight, from 
Washington to Hartford. Connecticut, last month 
than a ticket clerk banded him a blue booklet and 
pressed two fresh ink stamps onto the first page. 

Instantly, Mr. Kramer, a lawyer, became a Presi- 
dential Airways “Frequent Flyer with 200 points — a 
fifth of the way to '‘Award Level A” for a free 
upg rading ro ftrst-dass or three-month membership in 
the airline’s “Oval Office” V.LP. flight dub. 

But after almost five years of unbridled growth, the 
airline promotional programs that reward frequent 
fliers have come turner hostile scrutiny and legal 
attack by government and basmess. Increasingly, crit- 
ics question why such benefits escape taxation and 
why companies that often pay the travel bills are 
barred from reaping the benefits. 

The government has moved to circumvent this ban 
by insisting that federal employees use benefits they 
may earn on official travel for future business trips. 

“It's a fighting issue," said Leigh Kimball, vice 
president for sales and marketing at Ask Mr. Foster, a 
chain of travel. agencies that does a growing business 

helping companies keep track of benefits being accu- 
mulated by their employees. 

Widely regarded as the most successful promotion 
in air Hue Moray, frequent flier programs award more 
than seven million members boons points toward free 
round-the-world tickets, rental car and hotd discounts 
and other benefits. The programs are open to Ameri- 
cans and foreigners alike. 

They have transformed spending and mar k e ti n g 
patterns and have become a potent competitive weap- 
on of air carriers out to instill brand loyalty in their 
customers. They have become anew way for airlines to 
collect valuable information about these customers 
and to communicate with them. They have fostered a 
new travel specialty; monitoring frequent flier bonus 
miles. And they have even created their own gray 
market of benefit brokers and traders: 

But they also have provoked opposition and raised 
these questions, among others: .. 

• Do the awards constitute a form of income that 
the airlines should report to the Internal Revenue 

• Do the progrtuns promote inefficiency by encour- 
aging b usin ess travelers to fly roundabout routes, paid 

(OmfinttBd on Page 4, CoL 3) 

*T hope to return home and 
please don’t hinder me from tins," 
she said in Moscow. “1 will not say 

Speaking softly, she also ex- 
pressed thanks to Moscow corre- 
spondents for their interest in the 
plight ' of (he Sakharovs over the 

The disclosure last month that 
die would be allowed to leave (he 
country while herself sentenced to 
internal exile for anti-Soviet agita- 
tion was regarded as a gesture to 
polish the Kremlin’s in ad- 
vance of the UJS.-Soviet summit 
meeting in Geneva Nov. 19 and 20. 

After treatment for glaucoma in 
Italy, she plans to travel to the 
United States for a heart bypass 

Military Chief 
Is Reinstated 
In Philippines 

By Seth Mydans 

New York Tunes Service 
MANILA — General Fabian C. 
Ver and 25 other defendants were 
acquitted Monday of involvement 
in tbe 1983 assassination of Ben- 
igno S. Aquino Jr, a highly popular 
Philippine opposition figure; 

Sochi after the three-judge trial 
court delivered its verdict. Presi- 
dent Ferdinand E Marcos reinstat- 
ed General Ver as chief of staff of 
the Philippine armed forces. The 
general stepped down from the 
post in October 1984 after a fact- 
finding board TmniHt hiTn an 
alleged conspirator in the murder. 

“Thank God it’s all over,” Gen- 
eral Ver said as security guards 
hurried him from the hot and 
crowded courtroom. 

Demonstrators outside the 
courtroom banged on metal lamp- 
posts and urged pacing motorists 
to “honk if you think he’s guilty.” 




■v..v / 

f > v - - v 

“U-S.-Marcos dictatorship." 

General Ver asked for a meeting 
Tuesday with Mr. Marcos and se- 
nior officers to discuss what he 
called “certain security matters of a 
highly sensitive and extremely ur- 
gent nature," according to a presi- 
dential statement. There was no 
indication of what these security 
matters aught be. 

Mr. Marcos called Monday’s 
verdict a Iriumph of the role of law 
and urged a return of “calm and 

The United States lobbied hard 
against the general's reinstatement, 
arguing that it would set back mili- 
tary reforms that are vital to com- 

!ha Anocvriad Pros 

General Fabian C. Yen Thank God if s all over.' 

bating the Communist insurgency 
in the country. 

Senator Paul Laxalt brought Mr. 
Marcos a message of concern from 
President Ronald Reagan in Octo- 
ber. Mr. Laxalt, a Nevada Republi- 
can, has said that General Vers 
reinstatement would cause “a fire- 
storm of reaction” in Congress. 

[The U.S. Stale Department 
sharply questioned the acquittals 
and the reinstatement of General 
Ver, Reuters reported from Wash- 

ington. Three leaders in Congress 
also criticized the court decision.] 

Although government television 
interviewed a number of support- 
ers of the president, the acquittals 
were condemned by a spectrum of 
opposition figures. 

Mr. Aquino's widow. Corazon, 
said that justice had not been done. 
She called a news conference for 
Tuesday, and advisers said she 
would formally announce her can- 

(Coatinaed on Page 4, CoL 1) 

sef Yagm, will also be made avaB- 
abie to U.S. federal investigators, 
and that all documents which Mr, 
Pollard is accused of having sold to 
Israeli contacts will be retained to 
Was h i ng ton. 

Prime Minister Shimon Peres 
had no commeni Monday night 
about the reports that Mr; Eitan 
would talk to U.SL investigators. 

A senior government source con- 
firmed, however, that Mr. Eitan 
would be made available for ques- 
tioning “He is live supervisor. He 
will talk to the Americans." 

Tbe official, who rooke on the 
condition that he not be identified, 
said that “no date and no place has 
been set for the talking.” 

Mr. Etan, 57, served from 1978 
to 1984 as cotmtertemirism adviser 
to Prime Ministers Menachcm Be- 
gin and- Yitzhak Shamir , and is a 
former chief of operations for the 
Mossad, Israel’s foreign intelli- 
gence agency. 

[Mr. Elan, who is not related to 
the framer chief of staff, General 
Rafael Eitan, is dose to framer 
Defense Minister Ariel Sharon, 
now minister of industry and com- 
merce, Reuters reported. 

[Israeli radio smd that Mr. Eitan 
would be dismissed because of the 
scandal. United Press-International 

France Eases 
Its Controls 
On Currency 


PARIS — The French govern- 
ment announced Monday a series 
of measures to ease foreign-ex- 
change controls. 

The controls, many of winch 
were imposed to protect tbe franc 
between 1981 and 1983, have been 
dismantled gradually over the past 
18 months. 

Under regulations that take ef- 
fect next week, French companies 
investing directly abroad no longer 
will be required to finance 50 per- 
cent of their investment in foreign 
currencies, tbe Finance Ministry 
said in a statement. 

French companies also will be 
able to invest up to 15 million 
. abooojki Pm« francs (about S1.9 million) abroad 

A ponoeman and a soktier stand guard daring the European Community meeting. without seeking official approval, 

compared with only 2 million 
francs now, tbe ministiy said. 

EC Leaders Open Summit Conference accept payments fronTabroad in 

A. v any form, including cash, up to a 

J - » Y r\ • w rn m -n J* Emit of 100,000 francs instead of 

Amid Discord on Community Ketorm 

*/ «f Companies will be able to cover 

Bv Steven J. Dryden define one of tbe goals of the EC as gesled that mgority voting be used 

Tnumadonai Herald nibime “progressivety bringing aboutm in future attempts by the EC to 

i ijYEMBOinifi FumnMn ecooonuc and monetary union. harmonize rules and standards. c n. » t_:. 

n . nmnnul alsn ralM TtiP InHm hroan thnr dienie- 

actions between one foreign cur- 
rency and another, including the 

uuuiiuu mill ujuucuu y uujuu. uzuumm« luico <ouu aiauuaiua. i-„ r n„ r r •, ,i , ■ . 

Tbe Dutch proposal also called Tbe leaders began their discus- '^ urrenc y ^ njl ’ “* 

Community leaden, beginning a r proposal ^ caueo me nm oegim mar cuscus- 

summit meeting MondaTeSm- for of a commumty sions with an overview of the eco- * 

tered strong difflgreemeot over sev- ***** 10 nomic situation m tbe community K est ™i' 

exal proposals^r reform, officials mMctmy siabffity. printed by the co^iom 

Bjjj r The leaders spent several hours The commission report said that 

Restrictions on individual 
French residents also are being 

The commission report raid that ca * e ^. t ^ ® in ^y said- 

•SnnirMnten Britain 'imd tbe discusong the report of an inter- if present policies woe followed, tooiviauais wui be able to buy 
FC^Commissian said Mondav gwenunental conference on re- economic growth in the member or ,on 6-^m foreign shares 

SdittoSS^^relScSsti^ fo™ that they created at their Mi- states through 1990 would not ex- and bond* oeruficates of deposit 

lan meeting last June. ceed Z5 percent a year. and commercial paper. However 

out chances tor an a g reement . , , , . „ L t J . . they will have to use an artificial 

But a Dutch compromise pro- . The _ resort included suggestions Sue* a rate, the commission said. —J; _ r h«iu p 

SSSfeTn^r lan meeting last Junt ce^ 25 percent a year. 

But a Dutch compromise pro- Tne reprat mduded suggeslums Such a rate, the commission said, 
posal to increase coordination of for revising the^ TrealycrfRome. the would only bring about a “modest 
the monetary polities of member 1957 document that founded the improvement" in the EC unem- 
states was reprated by some offi- OMmnmity. Among the subjects ptoyment rale, now at 11 percent, 
dais to be samine support. covered are increased ura of major- i l. 

d Wrat l G^Sy S, SSectedly ity^^'mstead of the" pre^i ■ Misses Lunch 001 » . forei S° inv « 1 ’ 

bar±ed the Dutch nrraxjSTa move retpdrement of unanimity: greater President Framjots Mitterrand mems with a matunty or less than 
that was reported tohawimtated Policy coordination; and of France arrived sewn hours after years. 

Prime Minister Margaret Thatcher strengthening the powers of the Eu- other EC leaders, missing a lunch French residents also will be able 
of Britain, who wants to preserve m P &a P&riiameM- given by Grand Duke Jean, Ren- to transfer up to 3,000 francs 

y unexpectedly >*y votnig instead of the present 
proposal, a move requirement of unanim ity: greater 

and commercial paper. However, 
they will have to use an artificial 
rate of exchange against the dollar, 
which generally is more expensive 
than the commercial rate. 

Previously. French residents did 
not have access to foreign invest- 

of Britain, who wants to 
the independence of Britt 
tary policies. 

ropean Parliament. 

Although some states disagreed, 
the conference recommended dis- 

ters reported. 

abroad each mouth without autho- 

Mr. Mitterrand’s absence was rization, twice the amount allowed 

About an hour before the leaders mantling internal frontiers as a described privately by Luxem- up until now. 
were to go to dinner, a small bomb means of removing barriers to bourg officials as an insulL A Residents who want lo take 
exploded about 110 yards (100 mo- trade within the commumty. The French presidential spokesman money out of France for tourism 
icrs) from the building wheat the existence of the barriers is seen as said that Mr. Mitterrand’s late ar- will continue to be limited to 2.000 

meeting was ■ taking place. The one of the major obsta c les to great 
bomb exploded harmlessly. er European economic growth. 

A unanimous agreement on any 
reform measure appeared impossi- 
ble because erf the inability of the 
Danish government to approve any 
proposal before consultation with 
its parliament. 

In an attempt to bridge the gap 
t» one of the most divisive issues, 
the Netherlands had submitted a 
compromise proposal on the ques- 
tion of coordinating community 
monetary policies. 

Earlier proposal* by Jacques De- 
loss, tbe president of the EC' Com- 
mission, to move the commumty 
rapidly toward common monetary 
policies had been rejected by Brit- 
ain and West. Germany. 

Tbe Dutchi in their compromise 
proposal, called for an amendment 
of the Treaty of Rome that would 

The conference report also sug- was fixed. 

rival was due to engagements set francs in French francs per person 
i before the summit’s opening time plus the equivalent of 5.000 francs 

in foreign currency per person. 


James M. Beggs 

■ James M. Beggs, the NASA 

chief, was among those indicted 
in a fraud case involving Gener- 
al Dynamics Corp. Page 2. 

■The pope pledged to remain 
open to the conclusions of the 
Synod of Bishops. Page 6. 

■ School boycotts in South Af- 

rica have left blacks uncertain 
aboqt the future of their educa- 
tion system. Page 7. 


■ Argyll Groqp made a $2.77- 

biilion takeover bid for Distill- 
ers Co. that was rejected by the 
whisky producer. Page 11. 

■ Sa u dis will keep oil output 
high. Last part of Bob Hager- 
tys series. Page 17. 


In one high-tech field, telecom- 
munications, Europeans per- 
form as wdl as anyone — but 
the competitors are catching 
up. The third article on Europe- 
an approaches lo buaness. 


Page 2 


Publicity Assists Polish Surgeon 

Heart Transplants Draw Attention, Much-Needed Supplies 

By Jackson Diehl 

Woshuigtat Port Service 

ZABRZE, Poland — Dr. Zbigniew Rdiga arrived 
here a year ago determined to transform this city’s 
a ging hospital into a cardiology clinic that would set a 
new standard for Poland's beleaguered health system. 

It was not a task for a cautious man. Dr. Rdiga, a 
heart surgeon, began with three hand-picked special- 
ists and five experienced nurses, and coaxed about $15 
million in donations from factories in the surrounding 
Silesian industrial bed. 

But his clinic could not surmount the chronic trou- 
bles of all Polish hospitals: shortages of drugs, ambu- 
lances, cl eaning staff and even basic sanitary 


Then last month. Dr. Rdiga, 47, took the step he 
knew would get him attention: He performed two 
heart transplants, the first in Poland since a failed 
attempt in 1969. 

One of his two patients died. Bat within a week, 
supplies were pouring into bis aging, Spartan facility, 
and the local Communist Party secretary called to 
promise that cleaning personnel would oe detailed 
from factories. 

“It was one of the reasons I did the heart trans- 
plant,” the doctor said on a recent morning between 
bypass operations. "Now I have all the drags I want.” 

"That’s so typical of Poland,” added a colleague, 
Dr. Jerzy Wdczylc. “You do something interesting 
and only then you get some attention.” 

Although he scheduled its first heart operation only 
three months ago. Dr. Rdiga’s dime now aims to 
outstrip the combined performance of all the other 
cardiology facilities in Poland. The four surgeons, 
working at the rate of one major operation a day, 
already have performed 120 open-heart operations 
and have a waiting list of 200. 

"Our goal," Dr. Rdiga said, "is to create a cardiolo- 
gy clinic as good as the average facility in Western 

The dizzying speed of the project's development 

and the stagnation m more esta b lish e d facilities reveal 
the extremes of a hospital system that is piobaMythe 
most erratic in Eastern Europe. 

For many Poles, health care — more than job 
conditions, material supplies or even bousing — is the 
atest frustration of daily life and rise symbol of the 
lures of their state-run social services. 

Even I>. Rdiga’s record, cdd>ratedasa triumph by 
the Polish media, was shaped by die troubles that 
pervade the hospitals: severe overcrowding, critical 
shortages, and lapses of sanitation and standards so 
low that official spokesmen have labeled them “shock- 
ing” and “nightmarish,” • 

“The Sanitary Inspection Department has been 
shocked,” said the government daily Rzeczposoofita 
in a report on a recent inspection erf national 1 


should set an example cf dcanKness, were 

Dirt and the risk of infections are only the begin- 
ning of the problems patients confront Poland has the 
lowest number of hospital beds per head of population 
in Eastern Europe, and places are so short that pa- 
tients not in critical condition sometimes must wart a 
month or more for surgery. With regular wards al- 
ready crammed to double capacity, many of those 
admitted are quartered in hallways and bathrooms. 
Food has to be brought to many patients by their 

Drags are so scarce in some clinics that up to 40 
percent of supplies come from donations provided by 
the Roman Catholic mH foreign organiza- 


For many health specialists, the culminatkn. of such 
common horrors came last August with the deaths in a 
hospital in the town of Wlodawck of eight newborn 
infants i mp r o perly treated with albumin. 

An investigation showed that doses of the protein 
were administered more than 24 hours after the con- 
tainer of the medication was opened Tire maximum 
allowed exposure time Jar albumin is four horns. 




Kw Wot*. Aarimrik. Ufa fayi ri — rw 
Sand OHolted mums 
for free evaluation. 


600 N. MPUfWdB BlvdL, 

Las Anurias, California 
90MV, Dept. ZX UJXA. 

SOCCER RIOT TRIAL — James McGill, a Liverpool 
soccer fan, entering court in Brussels on Monday. He is 
being tried on charges of attacking an Italian fan with an 
ironbar faring a not before the European Cnp soccer 
final in Bmssris on May 29. Mr. McGill, 21, faces a 
five-year sentence. Thirty-nine people died in the riot 

Tory Policies WORLD BRIEFS 

A j* during the Victnt 

An gli cans The exchange 

™ ‘ • remains then wul 

Hano i to GiveU.S. Remains of 7 MIAs 

WASHINGTON (UPI) —Vietnam plans to turn over 10 U.S. officials 

wl^SStVbe the *mains of sewn AsaMpm 
daring the Vietnam War, the Pentagon arpounorf M^ay. 

The exchange is to be made in Hanoi on Wednesday, it said. The 
remabsto^ be flown to the army's Central Identt^^Laborajo- 

Q3UKUwutuviivnuH/uiv*H — J — , ■ w 

ry in Hawaii for confirmation and return to lattveb tt 


LONDON — The British 
eminent and the Church of 
gland headed for a dash Monday 
over a church report charging that 
many of the government's econom- 
ic policies were dogmatic, inflexible 

The 400-page report on urban 
conditions called for higher gov- 
ernment spending in inner-city ar- 
eas and a re-examination cf fax. 

deductions for mortgages. The re> im- 

port alleges the Conseivative gov- after testifying for four hours before Judge Luis Lerga- 1 * I ? aa 
eminent is using the deductions to on my side and the government will fan,” he said atertne bearing. 

help home owners at the expense of .**-*«—*- 

tire poor. 

Written by a commission that 

t the 

ry iu iwi wiuuu. n.™ — , ■ . 

lahonttoiy identified the remains of 24 of 25 American MIAsw] 

tU TThe £ agreement occurred after a jemt U^.-Vietnaroese t»m on 
Nov. 17 began to excavate the site where a B-5- bomber crashed near 
Hand in 1972. 

Detention of Rumasa Founder Upheld 

MADRID (Reutos) — A Madrid court npbdd Monday the detention 
of Jos6 Maria Ruiz Mateos in connection with the near collapse of 
Rumasa, Spam's largest private bolding group, court officials said. 

But Mr. Ruiz Mateos, the founder d the Rumasa group, was defiant 

_ . _ . - m win, reason is 

toured the country far two years, 
the report said: ‘The exclusion of 
the poor is pervasive and not acci- 

Mr. Ruiz Mateos, 54, left Spain shortly after the Soaaha^verameot 
nationalized 240 of the group’s 400 companies in February 1983. In 1984, 
government officials put the group's accumulated losses at S2.6 billion. 
Mr. Ruiz Mateos, who was extradited by West Germany during the 
weekend, faces trial on the two counts of accounting fraud accepted as 
grounds for his extradition. A request for bail is pending. 

Rotet 8 ^!™! 2SSZ£T*' Ugandan Rebels Free Hijacked Plane 

give the document his backing on NAIROBI (Reuters) — Ugandan rebds have released a Uganda 
- - ' * ’ Air lines aircraft that was hijacked last month and forced to land in 

its formal release Tuesday. 

Mr. Kunde stepped into the po- 
litical arena last year during thel 2- 
month miner s’ strike, mticgmg 
Prime Minister Maipxet Thatch- 
er’s economic policies as harming 
national unity. 

Copies of the chord) report were 
sent to nrimsteis as a courtesy, and 
an iwmamwi go v e rn ment minister 
[ in a newspaper as call- 

General Dynamics, NASA Head Indicted in Fraud 

Compiled by Ovr Staff From Ddpauka 

Dynamics Corp. was indicted 
Monday, along with James M. 
Beggs, now the administrator of 
NASA, and three other present or 
former executives of the company. 
Mr. Beggs, who had been an ex- 



The natural aperitif. 

Very Dry Sherry 

ecotive vice president of General 
Dynamic*, and the others were 
charged with frying to defraud the 
gove rnment of milling, of dollars 
on the Sergeant York anti-aircraft 
gun, the Justice Department said. 

General Dynamics, the thiid- 
largest U.S. military contractor, 
and the four men were charged 
with conspiring to reduce losses on 
an army contract to build the pro- 
totype gun systems by illegally mis- 
chaiging contract expenses to other 
government-funded accounts. 

The seven-count indictment was 
returned in federal court in Los 

individuals and the corpora- 
tion were charged with one count 
each of conspiring to defraud the 
Department of Defense between 
January 1. 1978, and Aug. 31, 1981. 
They also were charged with six 
counts of making false statements. 

Mr. Beggs became head of the 
National Aeronautics and Space 
A dminist ration on July 10, 1981. 

A gover nm ent source raid $7.5 

million was utischaigcd, ^wring a 

$3j 2 ntiHioa loss to the government. 

The Sexgeant York, also known 
as DIVAD for Divis ion Air De- 
fense weapon system, was a gun 

mounted on a tank and was de- 
signed to protect tank* and infan- 
try against enemy aircraft. 

If convicted, the corporation 
(aces a maximum fine of $10,000 
cm each of the seven counts. The 
individuals face mariamm sen- 
tences of five years in prison and 
510,000 fines on each count. 

General Dynamics and Ford 
Aerospace Corp. competed for the 
final contract for the the Sergeant 
York. Ford Aerospace won. But 
the later versioas of the weapon did 
not work and, in August, Defense 
Secretary Caspar W. Weinberger 
canceled the order. 

At that paint, the Pentagon had 
already spent SIB billion of a 
planned $6.8 trillion. 

In addition to Mr. Beggs, .the 
indictment named as defendants: 

Ralph E. Hawes, Jr., a corporate 
vice president and general manager 
for General Dynamics who helped 
run the anti-aircraft program at the 
company's division in Pomona, 


David L. McPherson a General 
Dynamics employee who (Erected 
the anti-aircraft program. 

Janus G Hansen, Jr., a General 
Dynamics employee who was assis- 
tant program director. 

According to the indictment, the 
company officials fraudulently 
charged several million dollars 
worm of expenses on the contract 
as "bid and proposal” and inde- 
pendent research and development 

They did litis, die indictment 
said, to reduce multiimllioQ-dollar 
losses on the com pan ds $40 mil- 
lion army contract for the produc- 
tion of the Sergeant York proto- 
type systems. 

Contractors are reimbursed by 
the Department of Defense tor 
those two types of expenses, but 
they are not permitted to use the 
funds for work required by an ex- 
isting contract 

It was the latest in a series of 
controversies involving General 
Dynamics. Earlier this year; Mr. 
Weinberger withheld mrlKon* of 

dollars f mm the company until an 

audit of its ttiUiug practices. -was 
completed. In October, a company 
official was indicted an charges of 
lying to die gpveramenLfAP, UPI) 

guerrilla-occupied territory, the Kenya News Agency reported Monday. 

The plane, a Fokker Friendship, arrived Sunday night in Nairobi after 
President Danid Arap Moi of Kenya had urged the National Resistance 
Army rebels to release h, the agency added. 

The plane was on a scheduled domestic flight when it was hijacked 
Nov. 10. It was forced to land in the southwestern town of Kasese, which 
is held by the rebels. Five West Germans aboard the aircraft were 
released shortly after the hijacking. The whereabouts of the 43 Ugandan 
passengers and crew are not known, although they are reported to be safe. 

was quoted i , . 

ing^document “pure Mam^ Reagan Optimistic on Ties With Soviet 

The environment secretary, Ken- SEATTLE (AP) — President Ronald Reagan said Monday that he was 

neth ttairw said the report was confident that UiL-Soviet relations could remain peaceful “if we remain 
’ - - firm in our convictions, realistic in our approach and strong enough to 

defend our interests.” 

Mr. Reagan, speaking at a Republican fund-raising meeting, said of 
last month’s Geneva summit meeting: “Geneva kt loose a lot ofhopes — 
mine among them. But there have been hopeful signs before.” 

He added: "The progress we made at Geneva was possible only 
because in die past five years we’ve been determined to make America 
stronger. Because we’ve spoken out clearly about Soviet policies that 
threats] peace, that policy is working. I am confident that tire competi- 
tion we have with tire Soviets can remain peaceful.” 

disappointing and suggested the 
recommendations were out of date. 

The church c ommis sion report- 
ed, “We are united in the view that 
the costs of present policies, with 
tire continuing growth of unem- 
ployment, are unacceptable.” 

It said it felt compelled to ques- 
tion whether “a dogmatic ana in- 
flexible” approach was appropri- 

Ure document also asserted that Ex-POV in Vietnam Loses U.S. Appeal 

too much emphasis was being 1 x 

ert R. Garwood, a former marine 
who was court-martialed for aiding 
the enemy and assaulting another 
American while a prisoner of war 
in North Vietnam, lost a Supreme 
Court appeal Monday. 

The court, without comment, left 
intact Mr. Garwood’s dishonorable 
discharge and forfeiture of pay for 
ins 14 yean in Vietnam. Mr. Gar- 
wood, now a mechanic in northern 
Virginia, was 19 when he was cap- 
tured in Vietnam in 1965. 

He retained to tire United States 
in 1979 and was charged with vari- 
ous crimes. Military prosecutors 
said he Hved with the enemy, eating 
and sleeping outside a fenced com- 
pound where American FOWs 
were held. The government said he 
carried an enemy weapon, served 
as a guard and once assaulted an 
American prisoner. He was the 
only American soldier convicted of 
aiding the enemy in the war. 


placed on individualism and not 
enough 011 colleicti v e responsibility. 

Since lairing office in 1979, Mrs. 
Thatcher has insisted that previous 
Labor government policies crip- 
pled the country by restricting indi- 
vidual initiative. 

She advocates greater enteqmse 
and the sdting of pubhdy owned 
housing to tenants to make Britain 
a nation of homeowners. 

The church report called far a 
reappraisal of mortgage tax relief 
as a means of achieving tins. 

“It is unjust,” it said, “to tdl 
those in bad bousing that we can- 
not afford to do anything for them, 
that there is no money available to 
provide them with a home, mid at 
the same time to give subsidies^ to 
those on the highest income.” 


Robert R. Garwood 

NATO’s European Wing 

Plans to Upgrade Forces Amal Chief Threatens to Attack ls^ 

i M . BEIRUT (AF) — Nabih Bern, leader of the Shiite Moslem Am 


BRUSSELS — West European 
defense ministers said Monday that 
tire North Atlantic Treaty Organi- 
zation was taking significant steps 
to improve its conventional forces, 
and they pledged strong political 
support for cooperation on arms. 

After a 90-minute ministerial 
meeting, the 12-nation NATO Eu- 
ropean grouping, which comprises 
all the European allies except 
France and Iceland, said in a state- 
ment that lie European allies had 
boosted ammunituHi stocks, begun 
a major program to build military 
ground facilities and were modern- 
izing equipment 

Among new weapons planned 
for next year in the 12 nations, the 
statement said, were almost 500 
tanks, 400 other armored vefaides, 
250 aircraft including 180 fighters, 
an Italian aircraft earner 4 modem 
escort ships and destroyers, arid 3 

The Belgian defense minister, 
Framjois-Xavicr de Donnea, said 
that the European group planned 

to invite U.S. senators and con- 
gressmen wvratch European farces 
m the field to show them that Eu- 
rope was doing its share in NATO 

(AF) — Nabih Bern, leader of the Shiite Moslem Amal 
militia, threatened Monday to attack Israeli settlements in retaliation for 
the shelling of Moslem villages in' southern Lebanon. 

‘The continuous shelling on southern villages makes it imperative for 
us to retaliate by shelling Israeli settlements.” Mr. Beni said, 
ease. There ’were reports bom the border region of a military buildup by 

The ministers emphasized the Moslem mili tias and by the mainly Christian South Lebanon Army that is 
importance of joint aims ventures backed by Israel. UN sources said Thursday that Israeli soldiers a nd 
in better value far defense Sooth Lebanon Army troops stormed two villages in southern Lebanon 
budgets, and they promised to fop- foUowrag rocket attacks on IsraeL 
port the joint project by Britain, 

West Germany, Italy and Spain to 
bmld anew fighter aircraft 
The four countries’ defense min- 
isters wflfmeet Tuesday to consider 
a French request to take a belated 
stake in. the fighter project and an 
otter by the U.S, defense seoetaty, 

Caspar W. Weinberger, to collabo- 
rate on parts. 

Defense Ministers Michael He- 

For the Record 

A Spanish court deared an afleged Basque guerrilla, Jos6 Garcia 
Ramirez, who was extradited by France last year, of murder and assault 
charges Monday, officials said. (Reuters) 

The Pofish leader, General Wojdech Janrzefeki, will hold talks at his 
own request with President Francois Mitterrand in Paris on Wednesday, 
the Elyree Palace said Monday. (Reuters) 

/; H a mflt o n Jordan, who was President Jimmy Carter’s chief of staff, said 

sririno - of Britton arid Manfred ■ Monday be will run for the UJS. Senate as a Democrat from Georgia 

WArner of West Germany planned 
private meetings with Mr. Wein- 
berger to discuss their countries’ 
plans to participate in the U.S. 
Strategic Defense Initiative, winch 
aims to develop a space-based de- 

- because he is 
Senator Mach 

in public life and has the best chance to (Meat 
iy, a Republican. (UPI) 


The U.S. Air Force scrutinized, analyzed 
and compared business jets for five months. 
Then ordered 80 Learjets. 

The flavour 
of an island 
in a single 

An order to build 80 jets for 
the U.S. Air Force Operational 
Support Aircraft program is 
significant. Any aircraft 
manufacturer would jump at the 
chance. And many of them did. 

specialists narrowed the field in an 
intensive five-month evaluation, 
ultimately focusing on just two 

The team compared speed 
and performance Rated fuel 
efficiency. Investigated reliability. 
Considered operational cost 
Evaluated support capabilities. 
Then put the contenders through 
strenuous flight testing. 

And when it was over, one 
aircraft emerged a dear winner. 


The Learjet 35A. 

So if you're planning your 
own evaluation of business jets, 
save your money. It's already been 
done. The best jet has alreaay been 
identified — by an organization that 
knows aircraft inside and out The 
US. Air Force. 

Now-tawer prices on Learjet 35 A. 

Our new pridng policy 
lowers the Learjet 35A base price 
to $2,850,000 — just slightly more 
than the slower, less efficient 
Cessna Citation S/ll. For details, 
contact Robert C. Williams, Vice 
President - International Marketing. 

Gates Learjet Corporation; 

RO. Box 11 186; Tucson, AZ 
85734- H 86. 

Telex: 68-35032 

•,^.rii v v:v.„.. --M n.:.v £ja- 

•' y •; '/.‘b !■ ''^,1: ■_ 

7; ^ vf ■’ ' • “ " 

.-V *>' 'V.'y 

&<’■ 7 ; 



Because of mediting error m an article in the weekend editions about 
West German officials said that ; Dresdner Bank eanrings,lhe length of the year-earikr comparison period 
Mr. WOrner would raise the idea of 1 , was misstated. The year-earlier figure was actually 10/ 12ths of the foil 
& European strategic defense effort 1984 results. 

to -study- ways to. intercept Soviet 
missiles-: ' 

Mr. Hesdtine, according to Brit- 
ish officials, win ny to remove tt- 
mailing difiacuccs over an accord 
guaranteeing fair terms for British - 
onm panfeg pa rticip atin g in the U-S. 
space defense program. 

Paris Ckmmen Rob Brink’s 
Of More Hum $7 Million 

New York City? 

Pairk Hotel 

Distinguished 500 room. - - 
• hotel with excellent - 
Restaurant, Cocktail Louige, 
Room Service and Plano Bar. 

Overlooking Gramercy Park 
‘wiriTiiewly decorated-, 

comfortable rooms- 

Singks $85-95 
- Doubles $90-100 ' 

‘ : Suites $115-175 ‘ 
'Group rates and anractiye- . 
monthlyrates available. .. 

Call Gen. Mgri Tom O’Brien 
. (212) 475-4320. 

TOet 668-755 ~ 
21st Sl and Lexington Are. 
New York NY USA.; 10W0 

The Anodaed Press 

. COLOMBES, France — Armed 
robbers lddnapped two employees 
of Brink's. France from their 
homes, forced them to open an of- 
fice at company headquarters and 
made off with more, than $7 mil - 
said Monday, 
said that about 10 men 

4 AM. Monday. It was speculated 
that the first man may not have 
been able to open the office door, 
forcing the robbers to kidnap tfje 
second employee. 

Folk* said (he robbery was one 
of France’s biggest On Oct 27, 
armed robbers stole an estimated 

broke into the o^oyeoTSes Maxmottan Museum 

late Sunday and early Monday. 
Some of tlw gunmen .tied up.meni- 
bers of the employees’ famiiire and 
remained, with them wink other 
guninen drove the employees to the 
headquarters of the security and 
courier company in tins- suburb 

la 1976, burglars tunneled into a 

bank in Nice and made off with an 

estimated 46 million francs in ra*h 
and valuables. In 1980, the robbery 
of ajewehy store in Cannes noted 
an estimated 80 million francs. 

On May 31, gunmen attacked an 

. The robbers looted strongboxes armored car in Paris, lriTW ^ 
of 'cash and checks. When five driver and two police officer* and 
guards arrived /or work ar aboot 5 stealing 40 million francs in cash 
AJVL, the robbers seized, them as ^ checks, 
wefl and continued to empty the , In the biggest British 
sides, then released the hostages fBUsked gunmen stole S 3 $T 
arid escaped in a van. police said, m pure gold from a dcoot near 
robbers ito^ ia estimated. Radon’s Heathrow Sport Tm 
€0 ndlBau to 70 milfinn francs, po- Nov- 28, 1983 ^ OD 

Kce rai^the eqmyalau of $7.8 mil- The bigg«i American robbery 
lion to $9.]maon. . oocunedm December 198i?S 

. Fofice said that one Brink's em- Sll nriffiooinSwS«Si,SS 
toyerij^. Iridnapped-aBpui 9 the 
».M. Sunday and the second aboot in NewYMt CSty.. uxmerCor P- 

© © 



Business peoplej choose your weapons. 

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uA ure of a word ? Out with the dictionary. 

And while you’re at it, ~ IfT 

W ^ check .the spelling of 

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Drop on the white stuff once again. 

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^ Attack the problem with scissors and rubber 
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All things considered, perhaps it’s best simply 
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’t find those^^importen^ | ' 

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Page 4 



Ver, Others Acquitted 
In Aquino Murder Case; 
Foes Condemn Verdict 

(Continued from Page 1) 

didacy to oppose Mr. Marcos in a 
presidential election Feb. 7. 

“Now that the verdict is out, the 
Filipino people can Fully under* 
stand why I said from the very 
beginning that justice is not possi- 
ble $o long as Mr. Marcos contin- 
ues to be head of our government,'’ 
'Mrs. Aquino said Monday. She has 
said she believed that Mr. Marcos 
was the “No. 1 suspect” in the 

Salvador H. Laurel another can- 
didate for president, vowed to re- 
open the case if he were dected. He 
was reported to have said that Mir. 
Aquino “has in effect been assassi- 
nated anew by this ghastly ver- 

The court supported the mili- 
tary’s contention that Mr. Aquino 
was killed by Rolando C. Galman, 
a lone gunman who was possibly 
working for the Communists, ana 
not by a military conspiracy. 

Mr' Aquino was shot Aug. 21, 
1983, as he arrived at Manila air- 
port after three years of self-im- 
posed exile in the United States. 
Mr. Galman was killed immediate- 
ly afterward. 

The 26 defendants, all but one of 
them soldiers, were also cleared of 
involvement in the wnrfe of Mr. 

All of the defendants pleaded 
not guilty when the trial began in 
February. General Ver and seven 
other military men faced posable 
40-year sentences on charges of be- 
ing accessories to the murder. Sev- 
enteen other soldiers charged as 
principals faced the death penalty, 
and one civilian charged as an ac- 
complice faced life imprisonment. 

Testimony in the eight-month 
trial, which followed 1 1 months of 
hearings by a fact-finding board, 
did not settle the many questions 
surrounding the assassination. It 
also led to a widespread sense of 
cynicism about the proceedings. 

Several witnesses, including 
friends of Mr. Galman and mem- 
bers of his famil y, and airline em- 
ployees who had said they wit- 
nessed the shooting, disappeared 
before or after giving testimony. 

In reaching their rffriann, the 
judges dismissed as of “dubious 
character” the testimony of Rebec- 
ca Qugano, who was the only pros- 
ecution witness to say she had seen 
a soldier kill Mr. Aquino. The pros- 
ecution relied on her testimony in 
asserting in its concluding state- 
ment that one of the soldiers killed 
Mr, Aquino with a pistoL 

[Miss Qinjano was quoted by 
The San Francisco Examiner as 
saying she was offered a Philippine 
government-inspired bribe by an 

Monday, Mr. 

mtennediary to change her testi- 
mony at the trial, The Associated 

Press reported Tuesday .] 

Well before the trial neared its 
coprJnqVtn , the court had excluded 
several potentially idling pieces of 

Most crucial was its ruling, sup- 
ported by the Soprano Court, that 
testimony by General Ver before 
the fact- finding board could not be 
ji/tmiimH as evidence: This was the 
primary evidence of the charge that 
General Ver had engaged in a cov- 

After midnight 
Marcos called formally for 
lion by signing a parliamentary bill 

that sets a vote for preadent and 

vice president IS months before the 
expiration of his six-year term. 

■ Criticism by Washington 

In questioning the verdict, the 
U.S. State Department dted the 
conclusions of the earlier fact-find- 
ing board, headed by Corazon J. 
Agrava, Renters reported. 

Charles E Redman, a State De- 
partment spokesman, said that the 
Agrava commission, which he 
termed a “board of respected, inde- 
pendent-minded” Philippine citi- 
zens, had “refuted" the govern- 
ment claim that Mr. Aquino was 
lrfiiarf by Mr. Galman. 

“It is very difficult to reconcile 
the exemplary, thorough work of 
the Agrava board, and the conclu- 
sions it reached after a year of hard 
work, with the outcome of this tri- 
al” Mr. Redman said. 

The State Department also ques- 
tioned the reinstatement of Gener- 
al Ver as chief of staff. 

“How the reinstatement squares 
with President Marcos’s professed 
desire to initiate serious reforms.” 
Mr. Redman said, “is a question 
only he can answer.” 

Senator Richard G. Lugar, an 
In diana Republican who is chair- 
man of the Senate Foreign Rela- 
tions Committee, said the derision 
did not “contribute to the dying 
need for credibility in the Philip- 
pines government nor does it an- 
swer the need for reform and reor- 
ganization of the military.” 

Alan Cranston, a California 
Democrat and assistant Senate mi- 
nority leader, said that the verdict 
would “hurt democracy in the Phil- 
ippines, bin American security in- 
terests and help only the Commu- 

Representative Stephen J. So- 
larz, a New York Democrat who is 
chairman of the House Subcom- 
mittee on Asian and Pacific Af- 
fairs, called on the Reagan admin- 
istration to suspend military aid to 
the Philippines as long as General 
Ver remained as chief of staff. 

U.S. Acknowledges 3 Officers Flew 
With Egyptian Commandos to Malta 


- (Contained from Page 1) in Maltese government circles 
sod that the military officers would about the competence of ihe Egyp* 
have been able to help coordinate - Li an commandos, who witnesses 
a^rimwi U-S. acrictanm to the said sprayed bullets through u»e 

Egyptians if it was needed. But the plane and on the tarmac during the 

official said that the military offi- assault . 

cers were sent “without any specific A Maltese source said that, 

idea of what they would be used 

■ Conflict With Caro Version 

Judith Miller of The New York 
Times reported from Valletta, Mal- 

Assertions that Americans 
played a Tde in the assault conflict 

based on the autopsies of those 
who were Kllcd in (he assault at 
least four persons had died of bul- 
let wounds, but that many more of 
these who perished had also been 
hit by gunfire. Most of the passen- 
gers died of smoke inhalation, the 
source said. 

Investigators examining the 


Brochures promoting airlines’ programs for frequent ffiers. 

Frequent Flier Plans Hit Turbulence 

(Continued from Page 1) 

for by their employers, to accumulate mileage points 
for personal benefit? 

• Are the programs a form of bribery in which die 
airlines seek to influence business travelers who spend 
their company’s travel dollars? 

American Airlines offered the first program in May 
1981 wwid the early uncertainties of airline deregula- 
tion. It was a time when some new carriers, free of 
unprofitable rente structures and Hi gh labor costs, 
were successfully challenging the hegemony of the 
airline giants. 

“We realized we had to do something that recog- 
nized and rewarded our better customers.” said Frank 
J. IK Nuzzo 3d, vice president for sales promotion at 
American. Consequently, the airline's pioneering 
“AAd vantage Program” awarded prints to 

registered passengers for every flight taken on the 
carrier. The accumulated prints could then be re- 
deemed for free tickets and other benefits. 

A key Feature of the promotion and others hurriedly 
begun by competitors was that the benefits could not 
be transferred to a corporation, even if it paid for the 

Today, all 12 major can i ns in the United States, 
most of the nearly 100 regional and commuter airlines 
and many foreign airlines offer frequent flier pro- 
grams nnHw one name or another. Typically, Presi- 
dential Airways, which began regional service Oct 10 
out of Washington’s Dulles International Airport, 
began signing up frequent fliers with its very first 

Many airlines cot in dir e ct route competition have 
teamed up to honor one another’s programs. Far 
example, bonus prints *nr»tpmiai»d on Trans World 


Eastern Amines and vice versa. There are mnrilar tie- 
ins with car rental agencies and hotel rfiafns. 

The exact number of those enrolled is the airimes 1 
secret, as is the number of chose who have reaped 
awards. Mr. Di Nuzzo said that American had rimed 
up more than three ntiflywi members, and travel ex- 
perts estimate the industry total at more than seven 
mill ion Fewer than half, however, are estimated to be 
active members, and only a small minority would do 
enough traveling to qualify for die top awards. - 

Frequent Flyer magazine, a publication of the Offi- 
cial Airline Guides not directly related to the airline 
promotions, found m a recent survey of its readers that 
99 percent of 17,000 respondents were enrolled in at 
least one frequent flier program. 

But increasingly, the programs have been coming 
under scrutiny and criticism. 

According to Representative Harold E Ford, 
Tennessee Democrat on the House Ways and Means 
Committee, frequent flier programs cost US. compa- 
res 5 percent to 7 percent extra in their travelbudgets, 
which totaled $66.5 billion last year. 

What mokes the programs so difficult to combat, 
the congressman and other critics have noted, is the 
fact that many of the beneficiaries are high-level 
business executives who set company poBcy. 

Mr. Ford introduced a bill in April that would for 
the first time require the airlines to report to die 
In tonal Revenue Service each year the names of those 
who received benefits and the dollar value of the 
awards. The IRS has said for several yean that it was 
considering whether to strengthen its own reporting 
requirements in this area. 

with a s**t«ncn* made at a news plane and its immediate surround- 
conference by President Hosni Mu- ings said they had found two gre- 
barak of Egypt- He said the United nades, which they believed were of 
States, Britain, and France had of- Soviet origin, aboard the plane, 
fered hdp co deal with the hijack- The investigators have also found 
ing, but Egypt had refused. 

On Sunday, a Maltese official 
confirmed that Malta had declined 
to permit anti-terrorism experts 
and listening equipment from the 
US. Delta force to land in a mili- 
tary aircraft. Malta finally gave 
permission for the experts from S- 
■ gonella to land in a private aircraft, 
bat the ^jprqval came too late, the 
' Maltese official said. 

The experts and their equipment 
were in the air ea route to Malta 
when the. Egyptian commandos 
stormed the plane. The team 
turned back when it learned the 
MMnit bad begun and never ar- 
rived in Malta, the official said. 

The hstaimg equipment would 
have enabled the team to identify 
the exact location of the hijackers 
in theaircraft, a source in Washing- 
ton said. 

The involvement of senior U.S. 
military officers in rite operation 
raises additional questions about 
the conduct of the assault, Maltese 
and other sources said. A~- senior 
Maltese official asked why the 
Americans, who had reportedly 
trained the Egyptian forces in 
Egypt, had not brought die equip- 
ment they needed for such an as- 
sault with them from Cairo. . 

Questions are also being raised 

at least two of the weapons used by 
the hijackers, which the sources de- 
scribed as of Czechoslovak origin. 
They said that the bullets used by 
the hijackers, based on their analy- 
sis of tire bullets taken from passen- 
gers who were shot, were 38-cali- 
ber and had less than tire normal 
amount of gunpowder in them 
Either the hijackers purposely re- 
moved some powder from the bul- 
lets before the hijacking so that 
Lhey would not pierce the plane’s 
shell when fired, or the hijackers 
had bought cheap bullets, the 
sources said, in either case, a 
source close to the investigation 
said, the small amount of gunpow- 
der in the bullets may help explain 
why most of the passengers shot by 
the hijackers survived. 

Egypt Lets Some Troops 
Near Libya Take Leave 


CAIRO — Egypt has signaled an 
i»asing of tension on its border with 
Libya by allowing some troops to 
take leave, military sources said 

The sources said that officers be- 
gan to rotate on 48-hour home 
leave for the first time since an 
armed alert was called after the 
hij ackin g Of an Egyptian airliner to 
Malta. Egypt has charged Libya 
with involvement in the Nov. 23 
hij acking but Libya has denied it 

“The start of leave indicates 
things are slowly returning to nor- 
mal'* one source said. 

Egyptian officials had said bor- 
der security was stepped up for 
defensive purposes after the hijack- 
ing. They denied Libyan charges 
that Cairo was preparing for war. 

Syria said Monday that anyone 
considering an attack on Libya 
would have to face the combined 
strength of the two countries. 

Abdel Halim Kb ad dam. Syria’s 

vice president for political and for- 
eign affairs, issued the warning in a 
statement to JANA the Libyan 
news agency, after arriving in Lib- 
ya for a visiL 

“We are warring those who arc , 
thinking of attacking Libya that * 
they will be confronted with Lib- 
ya's and Syria's capabilities togeth- 
er simultaneously. Mr. Khaddnm 
was quoted as saying. 

Egypt, meanwhile, is preparing 
for talks with Israel on the disputed 
Sinai coastal strip of Taba. 

The talks are scheduled to re- 
sume here Tuesday for the first 
time since they were suspended by 
Cairo to protest Israel's Oct. 1 air 
raid against Palestinian targets 
near Tunis. 

Foreign Minister Esmat Abdel 
Meguid met with the Egyptian del- 
egation to the talks, headed by 
Abdel Halim BadawL and also with 
tbe UjS. team that will attend as 

* Crisis on Singapore Exchange Widens 

(Continued bom Page 1) 
the fall in prices would be at least 
as severe as if the exchanges had 
remained open. 

[“If the stock market is suspend- 
ed for a long time, millions of dol- 
lars wiD be frozen,” Finance Minis- 
ter Richard Hu of Singapore said 
Monday, UPI reported. “I would 
like to warn the authorities to re- 
sume trading at once or face a ma- 

taOs were immediatel y available, 
but stockbrokers said the exchange 
was working out a plan to strength- 
en the I oral securities, industry 
While banks SOUghl tO minimira 

losses and tighten credit tines. 

“No' matter what the next epi- 
sode in tbe Pan-El crisis brings,” 
said a report in Singapore’s finan- 
cial daily. Business Times, “Singa- 
pore's reputation as a financial 

jor economic crisis in tbe country.”] capital will already have suffered as 
The Association of Banks and a result of this debacle, tbe gravest 
the Singapore wdwny held emer- in the republic's financial history.'’ 
gency meetings Monday. No do- Stockbrokers expected the Sin- 
















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-According to a survey conducted in Febniuy/Merch 1685 by QSE, Socioeconomic Researchers, within the framework of the Autonomous 
Community of Madrid. 

ABC. Prestigio de la Ptvttsa deEspafta. 

ABC; Madrid's General DaifyMorriing Newspaper since 1905. 

Address. Serrano, 61 "telephone; 435 31 OO fotex: Z7682-27683 

U.S. Reportedly to Question Israelis 

(Coetmned from Page 1) 

issued a qualified statement of 
for Israeli involvement in 
Pollard spying case. 

A number of questions remained 
unanswered, however. Among 

and technology developments from 
the public record and other nonse- 
cret sources. 

Israeli sources said that IE- 
KEM, under Mr. Eitan’s direction, 
gradually evolved into an indepen- 
dent annex to the traditional Israeli 

them were whether the spying apex- in trffi gence network, heart e d by the 
ation reached high levels of the Mossad. 

Israeli government; whether it was 
coordinated with tbe Israeli Em- 
bassy in Washington or was, as 
claimed by Israeli government offi- 
cials, part of an unauthorized intd- 
h genoe ncfwutk operating indepen- 
dently under tbe direction of Mr. 
Eitan;an<Fhow extensive are espio- 
nage activities allegedly carried out 

LEKEM long has been fisted 
openly in in . Israeli government 
agency directories, and has routine- 
ly posted its employees to foreign 
capitals to gather data cm science 

American Jewish leaders, who 
are meeting here, rallied befamd Is- 
rael on Mriaday after the govern- 
ment’s qualified apology to the 
United States over the espionage 
case. After private talks with Mr. 
Pats, they said that they consid- 
ered the matter dosed and that 
publicity would soon subside. 

Tbe Jewish leaders said they 
were not disturbed by what they 
conceded was a long Kst of unan- 
swered questions surrounding the 
rase. Nor did they fed that Israeli 
intdligenoe operatives had jeopar- 

dized the standing of the American 
Jewish community by apparently 
recruiting an American Jew, Mr. 

Pollard, for a spying mission in his 
own country. 

Julios Berman, former head of 
tire Conference of Presidents of 
Major American Jewish Organize- Kong to raise cash, 
tions, said Monday that it was “ob- “The retreat was widespread as 

vions” that Mr. Peres’ draft of (he local and foreign institutions 
apology — which did not explicitly joined the Singaporeans in sefling,” 
-admit that Israeli-sponsored esplo- said a European broker m Hong 

gaponc and Malaysian suspensions 
to last up to a week. 

“Once you dose, there is never a 
good time to open. Share prices are 
definitely going to slide,” a senior 
bank official in Singapore said. “A 
prolonged closure will worsen mar- 
ket sentiment." 

But stockbrokers generally wel- 
comed the suspension of both ex- 
changes because it prevented panic 
selling and a possible collapse of 
the stock market. 

Brokers and bankers in Singa- 
pore and Malaysia said a number 
of small er companies tied to Pan- 
Bee trie might be forced to close if 
banks did not bail them out 

The Singapore exchange sus- 
pended trading in Pan-Electric and 
two of its related companies Nov. 
19, and the Straits Tunes Industrial 
Index has since lost nearly 70 
points, to 691.81 Friday. 

Hoog Kong stockbrokers said 
prices were forced lower as Singa- 
pore interests sold shares in Hong 

nage did take place in Washington 
— was coordinated in advance with 
U.SL officials. 

Howard M. Squadron, another 
past preadmt of the conference, 
said: “We live in a television age, 
and we are so inundated with infor- 
mation that our memories have 
gotten a lot shorter than they used 
to be. You can’t realty recall any- 
thing for more than a week." 


[In Singapore, another broker 
said: “The whole affair has left us 
numb. Almost every investor just 
wants to gel ont of the market,” 
Age nee France-Presse reported 
from Singapore.] 

The suspensions do not spell the 
end of buying and setting. Traders 
can still come together in the so- 
called “gray,” or unsupervised 





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Page 5 

OAS Meets 
To Consider 
.^•'.Changes in 
•j Its Charter 



,! .33S 

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CARTAGENA Colombia — 
The Organization of American 
Stales opened a special session here 
Monday aimed at rewriting its 
charter and giving the 37-year-old 
body increased efficiency to deal 
with, regional conflicts, diplomats 

The three-day meeting is bang 
held just before the 32-nation orga- 
nization’s annual general assembly. 

The U.S. secretary of state, 
Gouge P. Shultz, was to address 
the opening session Monday. 

The OAS reforms to be consid- 
ered include a plan to give the sec- 
retary-general, Jo So Clemente 
Baena Soares of Brazil, executive 
powers modeled on those held by 
the United Nations secretary-gen- 

The meeting and the annual con- 
ference, to be attended by 350 dele- 
gates, are to last 10 days. 

Foreign Minister Augusto Ra- 
mirez Ocampo of Colombia said 
Sunday that the OAS was ready to 
adopt decisions regarding its work- 
ing principles. 

“This is not only a 72-hour meet- 
ing but the culmination of 12 years’ 
study to see whether member coun- 
tries have the political will to build 
a strong and effective OAS,” he 

, However, diplomats doubted the 
planned overhaul would occur at 
the Cartagena meeting. They noted 
(hat the lack of political will that 
led to the setting up of the Conta- 
dora group in 1983 remained a 

The Contadora group, made op 
of Mexico, Panama, Colombia ana 
Venezuela, is trying to settle differ- 
ences between Nicaragua and its 
U.S.-backed neighbors. 

Nicaragua has said it win not 
sign any pact until the United 
States halts its support for rebels 
fighting to overturn Managua’s 
leftist government 

■ US. Will Continue Rebel Aid 

Mr. Shultz said Sunday that the 
United States would indefinitely 
continue funding Nicaraguan re- 
bels. the Los Angeles Times report- 
ed from George Town in the Cay- 
man Islands. 

Mr. Shultz, traveling to the OAS 
meeting, suggested Sunday that the 
United States would continue 
funding the rebels even if the Cen- 
tral American countries signed a 
peace treaty. 

"Our commitment is indefinite.** 
Mr. Shultz said. “It's just going to 
go on.” 



Tha NswYoriTum 

Yelena V. Kaplan, whose American husband has filed for divorce, in a Moscow park. 

Russian Woman Contests U.S. Divorce 

Ostracized by Her Family, She Fears Being Left ^Helpless’ 

By Philip Taubman 

New York Tima Service 

MOSCOW — like other Russians married to 
Americans bat barred for years from joining them in 
the United States, Yelena V. Kaplan was canght 
between two cultures. 

After marrying Gary D. Kaplan in 1978 whOe he 
was studying Russian in Moscow, Mrs. Kaplan was 
ostracized by her family and friends. 

She says she corresponded regularly with her bus- 
band, who, like his father, changed his last name to hia 
grandparents’ name, Talanov, several years ago. He 
returned to California shortly after their marriage 
when his student visa expired, she said, and they often 
spoke go the telephone. 

Then, four months ago, Mrs. Kaplan’s case took a 
turn that she said became particularly painful in 
recent weeks as some at the other 20 or so Russians 
who have been separated from American spouses 
received word that they would get exit visas. 

On July 29, after not hearing from her husband for 
several months, Mis. Kaplan received a U.S. court 
document in the mail. 

It was a petition for divorce, eating irreconcilable 
differences, filed by her husband in superior coart in 
Auburn, California. 

Since then, with the help of a sympathetic judge and 
two court-appointed lawyers in California, she has 
contested the divorce, requesting that the marriage not 
be dissolved because, as die wrote the court. “In our 
situation, divorce involves not only matters of person- 
al relations and financial claims, but my husband’s 
responsibility for my very life." 

Mr. Talanov has refused to comment, his lawyer 
said. The lawyer, Rick A. PeasJey of Auburn, said his 
client had “tned in the last seven years to get her to 
come to the United States but the Russians are refus- 
ing to permit it.” 

The lawyer said that Mrs. Kaplan’s parents were 
scientists involved in nuclear submarine research and 
that “children of individuals in those positions are not 
permitted to emigrate.’’ 

Mr. Feasley said that Mr. Talanov, believing that 
permission would never be granted, wanted “to go on 
with his life.” 

“Everyone holds this unfo rtunate situation a gamst 
Gary, like be is the villain,” the lawyer said. “That is 
not the case. He did everything to try to get her to the 
United Stales.” 

Most Russians who many Americans are permitted 

_ to leave, according to diplomats. Last year, there were 
about 100 marriages between Americans and Rus- 
sians, and about 80 of the Soviet spouses got exit visas, 
they said. Those who do not gpt permission rarely get a 
full explanation of why they are turned down. 

Mrs. Kaplan, 27, says she has written her husband 
repeatedly since she received the divorce petition but 
has received no response. 

T keep asking myself,” she said, “how can he do 
tins. I always thought we would work oat any prob- 
lems that developed because of the long separation.” 

In a letter to the court, Mrs. Kaplan add there were 
no irreconcilable differences in her marriage. She 
added that divorce would deprive her of the help of the 
U.S. Embassy and leave her “helpless and without any 
protection before the biggest prosecution machine in 
the world." 

Thejudge, James D. Garbohno, ruled that he would 
allow Mrs. Kaplan to contest the divorce. The case is 
to be decided next year. 

Mrs. Kaplan said she hoped more Soviet spouses 
would be granted exit visas after last month's summit 
meeting between President Ronald Reagan and Mik- 
hail S. Gorbachev, (he Soviet leader. 

Before the nw^rngj the State Department that 
Soviet officials had provided a fist including the names 
of eight Soviet spouses who were to be given permis- 
sion to leave the country. So far, only three of the 
spouses have been notified formally that their requests 
will receive favorable treatment. 

Mis. Kaplan last saw her husband in April 1984, 
when he visited Moscow for two weeks. Hie trip was 
his first return to the Soviet Union since Ins student 
visa expired in 1978. 

Mrs. Kaplan and Mr. Talanov were married in 
April 1978, 18 months after they met at Moscow State 

After mar r ying her husband despite the objection of 
her parents, whom she said were mathematicians, Mrs. 
Kaplan said she was forced to quit the university and 
was denied permission to live in Moscow. 

Since retaining to Moscow several years ago to 
study at a textile institute, Mrs. Kaplan said, she has 
lived life a nomad, staying with American friends. She 
said she lived with a U.S. diplomat and his family for a 

Mrs. Kaplan said her parents lost their jobs, appar- 
ently because of her marriage. She said all her rela- 
tives, except one grandmother, have tbrnmeH her. 

T don't have a family anymore,” she said. 

Den locrats, Coy or Keen, Look to ’88 Race 

By Phil Gailey 

New York Tunes Service 

WASHINGTON — So far this 
year,, both Senators Edward M. 
Kennedy of Massachusetts and 
Gary Hart of Colorado have de- 
clined to cross the New Hampshire 
state line, as some lesser-known 
Democratic presidential aspirants 
have eagerly done. 

“Remedy hasn’t even called me 
in three months,” said George Bru- 
no, the state Democratic chairman, 
who was, however, not ungrateful 
for the postcard he received from 
Geneva, where Mr, Kennedy was 
observing the arms control talks. 

Mr. Bruno and other Democrats 
know it is only a matter of time 
before New Hampshire, which 
holds the first primary in presiden- 
tial election years, commands the 
attention of presidential hopefuls. 
The fact that some candidates are 
not ready to begin making snow 
tracks in New Hampshire does not 
mean they are not stirring. 

Mr. Kennedy, the early favorite 
in most public opinion polk, has 
been taflung to political fund-rais- 
ers, trying to soften his image as an 
ideological liberal, holding strategy 
sessions and giving selected inter- 
views to let it be known that he is 
seriously considering the race and 
will make op his mind after the 
1986 Senate elections. 

His advisers are already mailing 
potential running mates and debat- 
ing whether his choice should be 
announced early in the p rimar y 
campaign. One aide said that Mr. 
Kennedy, 53, at this point probably 
would choose a Southerner. Two 
names being mentioned are those 
of Governor Charles S. Robb of 
Virginia and Governor Mark A. 
White of Texas; but consideration 
of Mr. White would depend on his 
winning re-election next year. 

Aides say that Mr. Kennedy’s 
current priority is to pnt together a 
fund-raising network to make sure 
that his presidential campaign, if 

there k one, does not run out of 
cash and get caught in the kind of 
financial bind that crippled his un- 
successfnl primary challenge to 
President Jimmy Caner in 1980. 

Mr. Han must wish be had Mr. 
Kennedy’s basically forward-look- 
ing money concents. The Colorado 
senator is still struggling to retire a 
debt of more than 52 million from 
his 1984 primary campaign. 

He has spent the last year mak- 
ing a series of thematic speeches to 
refurbish his image as a futu re- 
oriented politician. Mr. Han, 49, 
plans to announce Jan. 4 in Denver 
whether he intends to seek re-elec- 
tion to the Senate. If he gives up the 
seat, as many think he w3L, his 
supporters will read that as an un- 
official announcement of a 1988 
presidential bid. 

Still something of a loner, Mr. 
Hart has opposed the protectionist 
legislation that briefly engulfed 
both parties on Capitol Hill and he 
has offered harsh assessments of 
what he views as his party’s lack of 
leadership on such issues as the 
federal budget deficit. 

Governor Mario M. Cuomo of 
New York says his only political 
interest is in winning re-election 
next year. He has raised more than 
S9 million for his campaign chest 
perhaps, some suggest to assure 
that no Republican challenger will 
be able to deprive him of a convinc- 
ing re-election victory that would 
improve his presidential rating. 

Martin Steadman, the governor’s 
spokesman, said of speculation 
about Mr. Cuomo's interest in 
presidential politics: “He doesn't 
talk about it and there is no game 
plan. I sense that this guy’s whole 
method of operation is to tackle the 
issues and see where that takes 

him " 

One issue Mr. Cuomo tackled 
was President Ronald Reagan’s 
proposal to end the deductibility of 
state and local taxes as part of the 
administration's tax overhaul bilL 

r ±-,. 

■JR »•« 


A .... ... ■? 

Edward M. Kennedy 

The bill written by the House Ways 
and Means Committee would pre- 
serve these deductions. 

Mr. Cuomo. 53, may have gotten 
mo rebut of the tax issue politically 
than has Representative Richard 
A. Gephardt, Democrat of Missou- 
ri. who identified himself with the 
issue more than two years ago. 

Since then. Mr. Gephardt, who is 
already stirring in Iowa and New 
Hampshire, has moved on to the 
issues of trade policy and budget- 
deficit reduction in his effort to 
establish a reputation for political 

Mr. Gephardt. 44, is chairman of 
the Democratic Leadership Coun- 
cil, an independent group of elect- 
ed officials whose message is that 
Democrats must change their ways 
and their agenda if they are going 
to reconnect politically with 
“mainstream*' voters. 

Governor Bruce E Babbitt of 
Arizona and Governor Robb, who 
are reported to have national politi- 
cal ambitions, have also used the 
council to gain visibility. 

Senator Joseph R. Biden Jr.. 
Democrat of Etelaware. has been 

U.S. Warns China on Envoys 9 Activities 

By Jim Mann 

Los Angeles Tima Service 

BEUING — The UJL govern- 
ment recently warned China that 
Chinese diplomats have been con- 
ducting what are considered to be 
improper and clandestine activities 
in the Los Angeles area, according 
to a knowledgeable source. 

In one instance, the source said, 
a diplomat was found to be in- 
volved in tbe establishment of an 
organization for Chinese students 
in Los Angeles. In another case, a 
Chinese diplomat quietly attempt- 
ed to purchase real estate in the Los 
Angeles area without the permis- 
sion of the U.S. government. 

American officials “had to tell 

them to knock it off,” said the 
source. Tbe Chinese Foreign Min- 
istry would not comment on the 
reported activities. 

On Nov. 22, law enforcement of- 
ficials arrested a former CIA em- 
ployee, Larry Wu-Tai Chin, cm 
charges of spying for China over a 
period of more than 20 years. Chi- 
na has denied the charge- There 
was no indication of any connec- 
tion between Mr. Chin's arrest, 
which was the result of a two-year 
investigation, and the U.S. warning 
to Chin* concerning its diplomatic 
personnel in Los Angeles. 

Both actions, however, appear to 
be the result of heightened interest 
by tbe FBI in uncovering possible 

Chinese intelligence activities in 
the United States. 

It was not clear why the Chinese 
diplomat was seeking to buy real 
estate in Los Angeles or where the 
property was located. 

The attempt to set up a student 
group apparently was aimed at 
keeping watch on the steadily in- 
creasing number of young people 
from China at American colleges 
and universities. 

China now has 13,000 to 14.000 
students in the United States. They 
sometimes find themselves out- 
numbered by Chinese-speaking 
classmates from Taiwan, which has 
more students in the United States 
than does any other country. 

40 mm 

Gary Hart 

drawing rave reviews for his stump 
performances from Maine to Cali- 
fornia. He is scheduled to be the 
keynote speaker at the state Demo- 
cratic Party dinner in New Hamp- 
shire next February, an invitation 
he sought. Bui he says he is “not 
prepared to make a commitment 
for ’88.” 

Judging from his standard stump 
speech, Mr. Biden, 43, who is re- 
garded as one of the best orators on 
the political circuit, could be a spir- 
itual rival to Mr. Hart in competi- 
tion for younger voters. His speech- 
es bubble over with passion and 
inspirational themes, with Lhe 
words of poets and Democratic he- 

He quotes Goethe, and. like Mr. 
Hart, he is fond of quoting former 
President John F. Kennedy. And 
just as Mr. Han lectured his party 
in 1984 on lacking vision and pan- 
dering to special interests. Mr. Bi- 
den is preaching a similar message, 
with equal audacity. 

Ski weeks 

SK IbS).- ull inclusive) 
from Jan u. in 5 to Fchruan 2 
and March •> to 23. 


IIciink call. 

I 'hi me u.tu/k 31 .-I Telex *122 222 

JTht^JradinffHoiels of theWbrM. 

This October, November and December, First Class passengers on our daily nonstop flights from London to Singapore will enjoy a menu that includes Terrine de Foie Gras de Canard Fraiche, Saiade Boulestin Parfumee AuxTruffes and Magret de 
- from recipes created exclusively for Singapore Airlines by Boulestin of London. Accompanied, as always, by such pleasant diversions as Dom Perignon, Malossol Caviar and Hennessy X.O-, served by our gentle hostesses in their sarong kebayas. 

de Canard Boulestin, prepared A 






V Y' 


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Page 6 


Thai Border Area Braces for Offensive 

, By William B rani gin 

Washing tor Past Service 

BANGKOK — Thai military 
forces, Cambodian guerrilla groups 
and more than 300,000 Cambodian 
and Thai civilians are bracing for 
another seasonal offensive by Viet- 
namese troops along the Tbai- 
Cambodian border amid conflict- 
ing reports about Hanoi's 

As Vietnam approaches the sev- 
enth anniversary of its December 
1978 invasion of Cambodia, the 
prospect of a bloody annual exer- 
cise — the dry-season offensive 
against Cambodian resistance 
groups — has aroused more than 
the usual fear because of the high 
vulnerability of Cambodian refu- 
gees encamped cm the Thai side of 
the border. 

In recent months, Thailand has 
been moving to consolidate refugee 
settlements into three main “evacu- 
ation sites." This has made them 
easier to control and administer, 
but also more vulnerable and hard- 
er to mow to safety in the event of 
a Vietnamese attack. Western relief 
officials say. 

Contributing to the Cambodi- 
ans' anxieties have been reports 

from the Thai military and from 
Cambodian resistance groups of a 
Vietnamese buildup in preparation 
for the dry season, which ram from 
November to May. 

But (he- Vietnamese insist that 
they have no intention of at tacking 
along the 450-mile (730-kilometer) 
Thai-Cambodian border or of bit- 










Pope Pledges Openness 
To Synod’s Conclusions 



Lead Gvil Action No. 84-1013, 


Summary Notice of Class Action and Proposed Settlement 

If you flew between the United States and the United Kingdom 
on Pan Am, TWA or British Airways between March 1, 1982 
and March 31, 2984, you may be entitled to share in a fund with 
a potential value of $30 million. 

Whether y ou are a company or an individual, 
if you purchased an airline ticket after February 
26, 1982 for scheduled subsonic air navel between 
the cotuinenta! United States and the United 
Kingdom during the period March 1, J982 and 
March 31. 1984, on Pan Am, TWA, or British 
Airways, you may be entitled to share in a discri- 
butwn of a pocentkd fund oTS3Q milBoa in coupons 
osabie to redoes your cost of /brute UJS.-VJL 
air travel. 

The coupons would be distributed as pan 
of the proposed settlement of this anrimut class 
action lawsuit. In re North Atlantic Air Travel 
Antitrust Litigation, Civ. No. 84-1013, currently 
pending in the United States District Court for 
the District of Columbia. 

If you wish to share in this settlement and 
receive your coupon! st, or to object to this settle- 
ment, or to exclude yourself from this lawsuit, 
yon must follow the procedures set forth in the 

fullNorice of Class Action and Proposed Settlement. 
An churns for coupons must be submined on the 
Qaini Form that accompanies that Notice.To obtain 
a copy oftfaefiiU Notice of Class Action and Proposed 
Secdetoesu. together with the Claim Form, yon 
most promptly: 

Either call 718 236 2337 in the US. or 0272 
277008 in the UJC, 

Or complete the form below and send a, or 
simply send your name and address, to the Settlement 
Administrator at lie appropriate address below: 


The Setdcment Administrator 

RO. Box 1002 

Bawling Green Station 

New York NY 10274. 


The Settlement Administrator 

RO. Box 314. Bristol BS99 7 AW. 


If you wish to share in the settlement and 
receive coupon(s), yon must complete the n™™ 

described in the Notice of Class Action and 
Proposed Settlement by February 16, 1986 will 

Form and return it postmarked no later than result in the loss of any right to share in this 

February 16, 1986. Failure to submit the Claim settlement or i« 
Form or to exercise any of the other options in this lawsuit. 

| Please forward Notice of Class Action and Proposed Settlement tor 


settlement or to recover on the cfarinu asserted 
in this lawsuit. 









Some Western diplomats and 
Thai military sources are inclined 
! to take Hanoi at its void this time. 
They point out that the mam resis- 
tance problem for Vietnam this 
year is in the Cambodian interior. ; 

The largest of the three resis- 
tance groups, the Khmer Rouge, 
has stepped up its activities inside 
Cambodia in recent months, am- 
bushing Vietnamese troops and re- 
cruidng Cambodian youths in rural 
areas, intelligence sources say. 

Khmer Rouge units have beat 
righted less than 10 miles from the 
Cambodian capital, Phnom Penh, 

the seat of the Vietnamese- installed 
government of President Heng 
Sam ri n Last month, rockets fired 
by the Communist rebel group 
landed in the capital’s northern 
suburbs about three miles from the 
city center, the sources said. 

According to a Western diplo- 
mat based in Hand, the Vietnam- 
ese now admit that there are as 
many as 10,000 Khmer Rouge 
troops inside Cambodia. Western 
estimates generally put Khmer 
Rouge strength at 30,000 to 40,000 

By contrast, two noo- Commu- 
nist resistance groups, the Khmer 
People's National Liberation 
Front, which is led by former Prime 
Minister Son Sami, and the Na- 
tional Army, headed by Prince 
Norodom Sihanouk, have not done 
as weUin mounting guerrilla opera- 
tions in the interior. 

Particularly disappointing to its 
backers has been the performance 
of Mr. Son Sami’s group, the larg- 
est non-Communist resistance 
group, which has been practically 
paralyzed by internal squabbling 
since the last Vietnamese diy-eea- 
son offensive. 

That offensive, which ended ear- 
lier this year, destroyed every major 
resistance base on the Cambodian 
ride of the border, forcing nearly a 
quarter of a million Cambodians to 
flee to the evacuation sites in Thai- 
land. In a departure from previous 
tactics, the Vietnamese this year 
remained in their forward positions 
along the border through the rainy 
season in an effort to cut guerrilla 

Vietnamese military and govern- 
ment officials told Western visitors 
recently that there was no need for 
a big campaign on the border this 
year because, as one Hanoi official 
was quoted as saying “there is 
nothing to laimeh ^ major offensive 

. By Kenneth A. Briggs 

New York Tima Sconce 

ROME — Pope John Pad H 
pledged to remain open to the sug- 
gestions and conclusions of the ex- 
traordinary Synod of Bishops be- 
iqg held in Rome: 

“1 have followed and will contin- 
ue to follow the work with. an open 
heart and attentive listening to the 
members of the synod," the pope 
said in his Angdus message Sun- 
day. ■ 

Noting that the two-week synod 
had reached the halfway mark, the 
pope asked his audience of about 
20.000 in St. Peter’s Square to give 
fl unky for “the grace” that had 
guided iL 

The pope's words reinforced his 

the authority to set policy. The 
pope will review the meeting's find- 
ings and decide what to do with 
them. . .. 

The bishops have already decid- 
ed to issue a pastoral message at the 
end of the synod. A committee will 
write the message and, after discus- 
sion by the synod, the pope will he 

asked to approve it. 

Beyond that, the bishops could 
decide to write another document 
offering conclusions on concrete 
matters. That decision has yet to be 

■ Question of Apology to Jews 

Cardinal Johannes Wffleb rands 
said Monday that it was premature / 
for the Catholic Church lo consider 
asking the forgiveness of Jews for 

jpeal at the start of the synod ^uines of persecution, Tbe Asso- 
ov. 24, when he called on the press reported from Rome. 

FEET FIRST INTO JAIL — Rich Simmons, a pofice 
officer in San Diego, holds onto a strap tfiadiedlofte 
feet of a bta-giary suspect. The suspect was stock m an 
air vent for 48 hours at a branch of the Sumitomo Bank. 

bishops to remain open to the “new 
■ vistas” of the Second Vatican 
Council, whose effects the synod 
has been assigned to explore. 

Before the synod, some liberal 
Catholics feared that the pope 
would take a direct hand in guiding 
its actions along conservative lines. 
But John Paul has remained non- 
committal about the synod's direc- 
tion and buoyant toward the work 
of Vatican U, which ended 20 years 
ago. ‘ ' 

IBs message Sunday helped fur- 
ther dispel the likelihood that he 
would in any way undo Vatican ITs 
vast transformation in the church's 
thought and practice, 

John Paul said that he had re- 
ceived from .the words of the syn- 
od’s bishops “a fervid testimony of 
their love for the church," and be 
praised their devotion to the minis- 
tries they have been given. 

. The question of the pope's stance 
lias shifted from whether he would 
endorse Vatican 11 to how strictly 
he interprets its concepts. Debate 
turns more and more on whether to 
observe the letter or the spirit of 
.Vatican ITs decrees. 

The synod has been summoned 
to give the pope advice but lac ks 

East German Defense Minister Dies 

Revun km. 63, the popull 

BERLIN — .General Heinz who declined to bea 
Hoffmann, 75, the East Goman ale, died Monday. ■ 
defense minister, died of heart fail- Althoug h he wrote 

British poet 

ure Monday, the ADN news agon Mr. IxAm was 

poets as Britain’s best. He was also 

You can’t put off bdngyomg until 
you retire. 

On the death of Sir John Betje- 
man in 1984. Mr. Ladtin was astod 
to be poet laureate, a position that 

Other deaths: 

Sogci Gerasimov, 79, a leading 

cy reported. poets as Britain’s best. He was also to be poet laureate, a position that 

General' Hoffmann, who helped anovefist He wrote poetry without requires flic holder to furnish verse 
organize the building of. the Berlin mys ticism, about people Irvi ng or- ■ s * a re occasions, but turned it 
Wall in 1961, was also a member erf dmary lives in ordinary streets. IBs down. The position went lo Ted 
the Communist Parly’s rating Po- was a Britain without empire or Hughes, 
litburo. . ambition, the welfare state. ■ Other deaths: 

Western diplomats said General His poetry was noted for its sad Sergei Gerasanm 79 a leading 
Hoffmann played a principal role and melancholy tone. The follow- director and actor in’the Sorietfflm 
in budding up East Germany's ing example, from the poem “Mon- jadustrv f OT more than 60 years, 
armed forces mto one of the most ey” also reflects an dement of Thursday, Tass reported Friday 
efficient and politically reliable whimsy and resignation: Moscow, 

bodies in the Warsaw Pact. 

Philip Laririn, Poet 9**** 2F* somethin 8 to Yosef Zarftdri, 94 a painter who 

rvcvr - - de-waft fife: headed amaveock Israeli artistic 

Ur U.IL s Wen are State — /h fact, they’ve a lot in com- movement called New Horizons, 

■ LONDON (AP) — FiaSp Lar- mon. if you enquire: Saturday in Td Aviv. 

A group of Italians recently 
signed a petition requesting that 
the synod issue such a statement 
Vatican II had condemned anti- 
Semitism and recognized the spiri- 
tual bond between Christians and 

“We still need much more confi- 
dence between the two communi- 
ties before a statement like that 
could be taken seriously," said the 
Dutch cardinal, who is president of 
the Vatican Secretariat for Chris- 
tian Unity. 

Only when there is such an atmo- 
sphere of confidence, he said, 
would it serve a purpose. “Other- 
wise,” he said, “such a document 
will not be accepted as real." 

In his synod speech last week, 
the nardinfll c all ed for greater ef- 
forts to eradicate anti-Jewish senti- 
ments in the church. 

“The council introduced a real, 
almost miraculous convention in 
the attitude of the church and 
Catholics, but ignorance and dis- 
trust are a heritage that cannot be 
overcome in 20 years,” be said. 

The petition, signed by Italians 
in the Rome area, was delivered on 
the eve of the synod by an auxiliary 
bishop of Rome. 

X ? m , ’ ; »•:. X 

wmmsy ana resignation: from Moscow. 

Clearly money has something to Yosef Zarftzld, 94, a painter who 

.. dd-vnthtife : . — . .headed a maverick Israeli artistic 

— ht fact, thefve a lot in com- movement called New Horizons, 
mon. if you enquire: Saturday in Td Aviv. 

Heinz Hoffmann 


” r ^^■Esaus<6oiNm aue«^>« 
D!?- 5 .Rj CUJB -* WHIPS cum •» CLUB *» DM 

fcios M»i»!Nt*s cum 9 mutes cum aw * tss cum 

oifsns ciua»w diners clop 9oenn cum dini 
a«3 users aus «• oasss ana cuss 

owes cm* Joiners cum aus dini 

D*«f« CLUB KW« QU» r* DiNBB CLUd 



Page 7 

A Harsh Lesson 

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Officials, Black Pnpils 
Dig In Over Boycott 

By Alan Gowcll 

. ■ New York Tima Scrvbx 

SOWETO, South- A&fca— -Each 
tbe father raid, he wastes and dresses and 1 
off to work, leaving behind a daughter whose 
fate for the day be will not know until evening. 

Id normal times, the man said, his 16-year-dd 
daughter would be at school and he would not 
year-end examinations are bong boycotted by 
many high school students in this sprawl of 
segregated, black housing outside Johannes- 
burg, so the concerns are different 

“The doctors are saying the rate of teen-age 
pregnancy has risen tremendously because of 
the boycotts,” said the man, an insurance dak 
who works in Johannesburg. “And crime will 
come, teen-age crime.” 

And there are tbe protests that sometimes 
erupt here, he said, and the army patroQmg 
streets in armored trucks Aeta^neA for bosh 

Then, be added, there is the question of next 
year, if the school boycotts continue into 1986, 
to the 10th anniversary of the black uprising in 
June 1976. That was the previous besdunaik of 
black protest before the latest turmoil began in 
September 1984, daiming so far more than 850 
lives and prompting tbe authorities to declare a 
state of emergency in 38 districts. 

“The black community in South Africa,” the 
nun said, “is facing up to its harshest year. The 
schoolchildren are saying that if they don’t go to 
school next year, that die parents won’t go to 
work either. 

The implication, he said, was that student 
coercion would be extended to those who make 
the daily trek to jobs 10 miles (16 kilometers) 
away in Johannesburg. 

In theory, this should be a time of hope and 
trepidation. The qualifying m m intiwn that 
determine university entrance have been taken 
and the results are not yet known. In theory, 
many teen-agers should be caught in the betful 
hiatus between high school and college. 

But after 21 months of unrest in some nan- 
while schools and 14 months of violence in some 
nonwhite residential areas, tbe hopes of many 
are blighted. 

In Soweto, for instance, 6,600 high school 
students should have mlmn their final examina- 
tion. known as matriculation. But it is estimated 
that only 350 completed the test because of 
boycotts, supp or ted by many and sometimes 
enforced cm reluctant peers. ■ 

In the Cape peninsula, about half of the 8,000 
mixed-race students supposed to complete the 
matr iculation examinations failed to do so, ei- 
tha - out of co mmitment to a cause whose slogan 
is “liberation first, education later.” or because 
they were prevented bon doing so by squads erf 
students who disrupted examinations with fire- 

Those that did take the examination did so 
under army guard. In other schools, teachers 
said, students farced to their classrooms by a 
police ruling that they must attend school sat 
under police guard during «amfnarin«ia but 

Ethiopia Closes French Relief Agency 

Youths chanted and gave black-power salutes as they carried tbe coffin of a 
demonstrator hilled during recent protests in the black township of L e andro . 

filled their papers with doodles or revohtttooaxy 

“The school is associated, with everything 
they hate,” said Peter Nixon, headmaster of 
Woodmead, a muhiiaaal, mostly white school 
outside Johannesburg, in reference to segregat- 
ed black schools. “It is a symbol of inferiority, 
state control. It’s a symbol of incompetent and 
lazy teachers. It is a symbol of everything that 
makes tbeir teen-age years of very Httie value, so 
it's a natural target for them.” 

And. as with so many other of die intertwined 
strands of the nation's crisis, tbe present is 
haunted by a past of indignity and neglect 

In the 1950s, apartheid’s designers formulat- 
ed the notion of Bantu education, a formula, 
drawn from the tenets of the day that held there 
was no need to educate bladts beyond the levels 
of the menial work they would be required to 
perf or m as noncitizens of white South Africa. 

Three decades later, the authorities have ac- 
knowledged the permanence in South Africa <rf 

miTKo ns of what are called urbanized blades, 
and business leaders say they wish to draw black 
talent into their corporations. 

Yet the generation of teachers at the nation’s 
segregated schools for blacks are the products of 
rfhe educational system of the 1950s that accord- 
ed blacks a permanently inferior status. Four- 
fifths of the teachers have not completed high 
school themselves. 

The statistics that frame South Africa’s miser- 
ies tdl their own stray. In 1984, the state spent a 
total of 234 rand (S90) on the education of each 
friarfr ditM l compared with 569 rand for each 
rhiM of mixed race, 1,088 rand for each child of . 
Indian descent, and 1,654 rand for each white 

The authorities say the proportion Spent on 
blacks is low, in part, because blade teachers are 
underqnalified, wit so their — are lower 
than those of qualified white teachers. 

Then, there is the pupQ-to- teacher ratio, 40 to 
I far blacks, 19 to 1 for whites. Whites may 

generally study in peace and at leisure. But a 
survey among 815 Made pupils in the restive 
Easton Cape eadier this year showed that most 
lived in cramped homes. 

The rates of examination success reflect the 
pattern Only a quarter of bl a c k students enter- 
ing a secondary school reach the final year of 
study, known as Standard 10. The number of 
those qualifying for u niv ers i ty entrance bas ris- 
en from 3^36 in 1978 to 9,356 in 1984, but those 
figures, according to official statistics, represent 
a drop in the proportion of contenders qualify- 
ing for university from 33 percent to. 11 3 per- 

Mr. Nixon, tbe Woodmead headmaster, said 
appheations for places by black parents had 
risen by four or five times this year because they 
wan seeking schools that operated all year 

In Soweto, parents have formed a Soweto 
Parents Crisis Commi ttee to negotiate with the 
authorities. But, according to a spokesman far 
the group, it has readied a stalemate in negotia- 
tions with die white authorities. 

“We say, *Get the troops out of the township, 
and ther^n be an atmosphere conducive to 
lifting the boycotts and getting education going 
a g ain,* " the spokesman said. ‘'They say to us, 
‘Yon Tn«lte the atmosphere conducive and we’ll 
remove the troops.’ If s Catcb-22.” 

The parents, the spokesman said, may not 
negotiate without the consent of their children, 
who have set tarns and demands, primarily for 
the withdrawal of the army, the release of de- 
tained students leaders and the deferral of the 
year-end examinati ons until next year. 

Where is it leading? The answer, among many 
educators, was that with recession biting deep, 
unemployment and riiMffr irfinn seemed the 
only prospects for many young blacks. 

“The kids realize there is no hope,” the 
spokesman for the Soweto parents 
said. ‘There wfll be a gravitation towards more 
miBtflnc y” 

The Assoetaied Press 

ADDIS ABABA, Ethiopia — 
The government announced Mon- 
day that it was halting the Ethi 
an operations of the French 
organization Doctors Without Bor- 
ders and taking over the agency’s 

The action culminated a six- 
week dispute between the govern- 
ment’s Relief and Rehabilitation 
Commission and the private 
French group, which had criticized 
aspects of the Ethiopian famine re- 
lief effort, induding a government 
program to resettle hundreds of 
thousands of famine-stricken peo- 

Berbane Deressa, the deputy 

head of the c ommis sion, said the 

French agency's staff members 

“are not doing their work since 
they started this campaign." a ref- 
erence to the criticism. "The people 
they are supposed to be serving are 
suffering as a result," he added. 

Tbe commission called criticism 
of tbe government by Doctors 
Without Borders “politically moti- 
vated” and its “refusal to follow 
nouns and procedures” had “not 
rally cast doubts an the motives of 
the organization but also seriously 
undermined their field work." 

Because of this, the statement 
said, the commission “decided to 
discontinue the services" of the or- 
ganization as of Monday. 

Mr. Bezhane, in a telephone in- 
terview, said the government did 
not intend to expel individual staff 
members and indicated that they 
would be permitted to join other 
relief agencies. 

The statement denied charges 
that tens of thousands of people 
had died as a result of Ethiopia’s 
resettlement program and that an 
application by Doctors Without 
Borders to open an emergency 
feeding center had been rejected. 

Michel Fizsbin, director of the 
Doctors Without Borders office in 
Ethiopia, said earlier Monday that 
the government had grounded an 
airplane used by tbe organization 
and indicated it might bar the entry 
of replacements for its current 
staff. He said the agency has been 
working in Ethiopia since the 
spring of 1984 and has 29 staff 
members in the country, including 
seven doctors. 

Officials of Doctors Without 
Borders have estimated that tens of 
thousands of people who have been 
resettled in the southern part of the 
country died of malaria 
other causes. The organization has 
called for a temporary halt to the 
resettlement program, which has a 
high priority for the government, 
while an international inquiry was 

■ Famine Eases in Ko iym 

Blaine Harden of The Washing- 
ton Post reported earlier from 
Koran, Ethiopia : 

There was a party here last week 

for three French curses from Doc- 
tors Without Borders who art leav- 
ing the feeding center at Korem. 

Parties being a rare commodity 
in these highlands, it had been 
planned and talked about for 

But for all the planning and an- 
uripation, the gping-away party 
was a subdued, almost melancholy 
affair. The three nurses who were 
leaving would not be replaced. Re- 
placements, it had been derided, 
would not have enough work to do. 

The feeding center at Korem is 
losing its reason for bring. There 

were 55,000 people here last year, 
most of them starving and rick. At 
the end of last week, there were 
about 15,000. By Ethiopian stan- 
dards, they are well fed and 

Places like Korem breed disease 
when they ore beyond the control 
of medical workers, as Korem was 
for more than half a year. Once 
brought under control as Korem 
has been for the past few months, 
they breed dependency. Relief 
workers agree that the sooner 
Korem is emptied, the better. 

And yet for the nurses and doc- 

tors who left their jobs in Euro; 
hospitals to come to Ethiopia, there 
is a wistful feeling that perhaps the 
best and most useful lime of their 
lives is ending. 

“There was so much to do when 1 
got here," said Valery Thomas. 29. 
the senior nurse at Koran's child- 
feeding center ran by the British 
chapter of Save the Children. 

“Children were near death all 
around you. If you didn’t get an IV 
into them within two hours, they 
would die. It was terrible, but it was 
very exciting." said Miss Thomas, 
who has been here since May. Now, 
she said, u lt is a bit dulL" 

“. . . ein Spitzengerat besonderer 
Art, das alle Wunsche erfullt, 
die man heute an eine Kamera 
stellen konnte . . 

Germany’s Toto-Magazin’ leaves 
us with nothing else to say. 


Today, many banks are realising that there’s 
no substitute for personal service. And while speed 
is essential, it musn’t be at the expense of the perso^ 
nal touch. 

Philips PTS 6000 banking systems free bank 
staff from routine work, giving them more time to 
serve customers. 

At the Royal Bank of Canada, some 3000 
Philips work stations are used for just this purpose. 
Other Canadian banks have installed a large number 
of Philips Automated Teller Machines, both for lobby 
and through-the-wall operation. 

In total, Philips has supplied more than 
100,000 work stations to banks all over the world. 

But as well as helping banks improve service, 
we also help them to provide an optimal working 

For example, in the 26-storey Munich Hypo- 
Haus, head office of the Bayerische Hypotheken- und 

Here, the integrated lighting and air-condi- 
tioning system uses, some 7000 air-handling louvred 
luminaires. Specially designed by Philips after exten- 
sive tests. 

Showing that we care just as much for bank 
staff as for customers. 

Philips. The sure sign of expertise w orldwide. 







Page 8 



PuUbbcd With The V« York Times aod The Wwtingtoa Poet 

A Regional Nuclear Race 

iributt* T^Me^nts^VotPeopte^ CauseDesert 

The nuclear arms race between India and 
Pakistan has progressed with disquieting 
speed in the past year. Both countries continue 
to deny that they have nuclear weapons or 
ip tend to build them. It may well be cue that 
neither actually has a bomb at this moment, 
but the evidence strongly suggests that both 
are working rapidly toward a capability to 
produce nuclear weapons very quickly — and 
more than one or two of them — in a crisis. 

Last winter President Mohammed Zxa ul- 
Haq announced that Pakistan had succeeded 
in enriching uranium to the low kvd required 
for power reactors. That implies a capacity to 
enrich to the higher grade required for weap- 
ons. The work is being done at a facility that 
Pakistan has never opened to international 
inspection. In July, ABC News reported that 
Pakistan bad successfully tested the trigger 
ejevice for a nuclear bomb. In August, India 
said it had started up its new research reactor 
.i-an unusually large machine for research — 
4 Dd emphasized its plutonium output. It is not 
open to international inspection. India dem- 
onstrated in 1974 that it knows how to produce 
an explosion. Its present supply of plutonium 
is enough for 15 or more weapons a year. 

\ The pattern of these events is laid out in 
detail by Leonard & Specter of the Carnegie 
Endowment for International Peace in his 
book “The New Nuclear Nations,’' the second 
in a valuable series of annual assessments. 

Other countries will doubtless always have 
far fewer of these terrible weapons than the 
United States or the Soviet Union, but the 
chances that the others will use them, if they 
have them, are certainly no lower. Among the 
countries that either have built unclear weap- 
ons covertly or have recently been working 
toward them, two — Israel and South Africa 
— are surrounded by hostile ndghbora Others 
are locked in sharp regional rivalries. Argen- 
tina and Brazil seem to have slowed down their 
respective military nndear programs since 
they recaitiy returned to elected government 
But Indo-Pakistani tensions appear to be con- 
siderably less under control. 

Mr. Spector points out that President Rea- 
gan — contrary to the impression that his own 
words sometimes leave — has been playing a 
useful role there. A year ago he sent General 
25a a letter apparently suggesting that Paki- 
stan would jeopardize the flow of U.S. aid if 
it began producing wea pons-grade uranium. 
When India’s Prime Minister Rajiv Gandhi 
was in Washington in June, Mr. Reagan per- 
suaded him at least that the United States was 
seriously trying to restrain Pakistan. 

And perhaps Pakistan will not build a 
bomb. But both it and India are still marking 
hand to put these weapons within their easy 
reach. By no all of the world’s n u d e ar 
dangers are under negotiation in Geneva. 


The United States ran a merchandise trade 
deficit of SI 1.5 billion in October, the Com- 
merce Department says. That is less than the 
tremendous $15.5 bQlioo reported in Septem- 
ber — which is nice but unfortunately is also 
irrelevant. Variations from month to month, 
are being caused by irregularities in processing 
the Customs data on which these statistics are 
based, rather than by fundamental changes in 
i^ie trend. The trade deficit is now running 
about $140 billion a year and will probably 
continue at that level through next year. 

, These continuing trade deficits are a signal 
that Americans are consuming more than they 
ji reduce. The deficits are being financed by 
foreigners and. like any lenders, they are col- 
lecting interest- The weight of those interest 
payments is beginning to make a difference in 
the way the American economy behaves. 

■ Analogies with family finances have their 
limitations, but in this case the analogy works 
pretty welL Suppose a family saved its money 
4ili gently, invested it and, as the years went by, 
began to enjoy a steady stream of dividends 
and interest That would enable it to spend 
more than it earned in its weekly paychecks. 
And that is roughly the situation that the 
United States had achieved by 1981, when its 
investment income from abroad came to $34 
billion. Although it ran a trade deficit that year 
of $28 billion, the deficit was harmless because 
the investment income covered it with $6 tril- 

lion to spare, which was reinvested abroad. 
But 1981 was a pivotal year when the Reagan, 
administration set a tone of national optimism 
and good dicer based, in economic terms, an 
the chronic and increasing overconsumption 
that has continued for four years. 

To return to the family: It stopped saving 
and started spending more money, which was 
good for everybody’s morale. Wheat it exceed- 
ed its income, it borrowed. Eventually its inter- 
est payments equaled its investment income. 
Then, as it wwHnntJ to borrow and interest 
obligations continued to rise, it found itself 
with less money to spend than it was earning. 

That is the position in which die United 
Stales is now beginning to find itself. That $34 
bOlion-a-year cushion of foreign investment 
income in 1981 had shrunk to zero by the 
middle of last year. By now it has probably 
reversed to a net outflow, and the outflow will 
increase as long as die trade deficits continue. 

When the foreign lenders deride to cot down 
additional lending, as lenders eventually do, 
Americans wfll fed the weight of those accu- 
mulated interest payments. like the family in 
the example, the country will have less to 
spend than it is earning. If o v erc ons umption 
helped generate the mood of good 

feelings of the past four years, it is troubling to 
speculate an the political effects of the en- 
forced underconsumption that must follow. 


A One-Sided Sex Pitch 

“A family is formed when a child is bora," 
Senator Daniel Patrick Moymhan of New 
York said in a lecture last spring. “When an 
unwed teen-ager gives birth, a broken family is 
formed.*' More than 270,000 broken families 
are formed every year in the United States. 
And those 270,000 mothos are only a quarter 
of America’s pregnant adolescents. There are 
more than a mflUan yearly, half miscany or 
choose abortion, a fourth hastily marry. 

What do these youngsters have in common? 
Not poverty youthful sexual activity is hardly 
restricted to the poor. Nor race. The pregnan- 
cy rate among black teen-agers is high, but the 
white rate exceeds that for adolescents in 
France, Sweden, England, Canaria. Wales and 
the Netherlands. What these American girls 
have most importantly in common is America 
— the undisputed champion of the sexual sdL 

What has America done to prepare its chil- 
dren for life in a country where sex is used to 
hawk everything from jeans to detergents — 

and whose citizens are told to “have good sen" 
as routinely as they are advised to Doss their 
teeth? Until recently, next to nothing. Contra- 
ceptive counseling and sex ed uc a t ion in the 
schools have suffered constant attack. 

But Americans are not as reluctant to ac- 
quaint their children with sex as such quasi- 
censorship suggests. Last winter a survey 
sponsored by the American College of Obste- 
tricians and Gynecologists showed support for 
sex education; 54 percent of the female re- 
spondents said it should start in elementary 
school Last month a study sponsored by 
Planned Parenthood reported similar findings. 
Yes, said 85 percent of those polled, sex educa- 
tion should be part of the school curriculum. 

If recognizing a problem is halfway to striv- 
ing it, America may finally be on its way to 
doing something about children who bear chil- 
dren. Otherwise, the number of broken fam- 
ilies formed every year win keep on growing. 


Other Opinion 

Moscow and Southern Africa 

The visit to Moscow of Robert Mugabe, 
Zimbabwe's prime minister, gives rise to fears 
thm the Russians are about to forge stronger 
links with the front-line states to bring down 
the South African government. The indica- 
tions are that Russian policy is directed not 
toward the rapid overthrow of the Pretoria 
government but rather to a long period of 

destabilization leading only eventually — if 
possible — to the establishment of a govern- 
ment dominated by Moscow. Commercially, it 
would increase the market for Soviet minerals 
if the Western source of supply were cut off or 
reduced. Politically, a sympathetic Marxist re- 
gime in Pretoria would have obvious benefits 
in what remains an important strategic part of 
the world. But the Russians are in no hurry. 

— The Times (London). 


1910: Toward Secession by Ireland? 
PARIS — To the American onlooker the Eng- 
lish political crisis bears a striking resemblance 
to the one which ended in the American War 
of Secession. It is plain that complete separa- 
tion, not mere local autonomy, is John Red- 
mond's aim. The Redmon dices, when the ora- 
torical embroidery is stripped off their 
arguments, claim the right to secede from one 
political organization and form another on a 
basis of absolute independence. That was the 
veiy claim which the Northern states contested 
and defeated in four years of bloody war. Is 
history about to repeat itself? The secession 
of Ireland from the United Kingdom means 
distintegration of the Empire. It also means 
the beginning of a fierce internecine wSr, en- 
venomed by religious intolerance. 

1935: French Wine From Heaven 
DEN AN, France — A red rain has been dis- 
turbing the citizens here. A local druggist 
caught a tumblerful and when it proved to be 
rose-colored, the inhabitants predicted the dir- 
est calamity was about to befall the town. The 
druggist decided to analyze the rain. It con- 
tained alcohol ftmt juice, all the ingredients of 
good wine, even sugar. Explanation was given 
by Georgies RodiUon of the Association of 
Biological Pharmacists. Herrferred to an issue 
of the “Revue des Denx-Mondes” in winch 
Georges Fabri, of the Academy of Sciences, 
explains the mechanism of fogs and dusts 
whereby rains of mud or pollen are frequent It 
is believed minute bits of fruit containing 
sugar were transported here by a wind during 
the rainy season and underwent fermenta tion. 


JOHN HAY WHITNEY. Chairman 1959-1982 




PHILIP M. FOISIE Execute EAtor REN&BONDY Den# Publisher 


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T EXENGTON, Massachusetts — Fflms of the 
JLs drought disasters in .Ethiopia, Sudan, Mo- 
zambique and other African countries are heart- 
wrenching. Alnx^ as disturbing, though, are the 
pe rcep tion s of cause and effect that pervade 
most camnent on thesitnatkm. 

Many experts would have us believe that 
somehow the people involved bear responsibility 
for their misfortune. We are repeatedly told that 
it is the nomads in these parched lands who rum 
the environment They misuse the land, we are 
told, chop down the trees and allow their animals 
to overgraze. Thus the place becomes a desert 
The impress] on is conveyed that the desert is 
man-made. This mistake is typical Of the simple; 

minriarirag nf b laming all the HU rtf the Kflrtn OB 

mankind If this misconception were simply na- 
ive and rather harmless, it would not matter. But 
accepting it may be counterproductive, because 
it has two very dangerous implications. 

It suggests that the people who five in the dry 
parts of the world rum their environment bo- 
cause they do not understand it With this as- 
susqnkm goes the arrogant notion that our “con- 
sultants,” academics and development planners 
knowthc desert better than local inhabitants da 
And the misconception insinuate s that be- 
cause such “ignorant” and underdeveloped peo- 
ple made the desert, then our new technologies 
and scientific techniques can surety fix ft. 

In reality, deserts form in any segment of the 
1 sm<j ma«M« of the Earth fra one reason alone: 
scarcity of ram. The term “desert** came to us 
from an Egyptian hieroglyph pronounced “te- 
sat,” which means abandoned or forsaken. This 
idea correctly implied that today’s deserts used 
to be kinder places in which there was life. 
From rain sprang abundant vegetation, and 

Hint r am allowed apjmilS anH t»imnn« to roam 

The Sahara was bom of water 
and shaped by the wind. If* flat 
terrain was the result of 
thousands of yean of erosion of 
rock by naming water during 
rainy dimatic episodes. 

the land Then the clouds gradually disappeared. 
These places dried up and were deserted by 
plants, animaiic and man The deserts are where 
they are not because of same accident of misuse, 
but because of the rhythmic pattern* of global 
circulation of air ma«g* in the Earth’s atmo- 
sphere, which are fueled by energy from the sun. 

By Farouk El-Baz 

This b At first cf two articles. - 

moisture-laden air rises, it cools and the moisture 
condsises to fonndouds. As the clouds continue 
to climb, their moisture cools into droplets, and 
beads of ram fall to Earth. 

Most tropical. donds burst into precipitation 
between latitudes 15 degrees north and south. 
The resulting heavy rains not oily account for 
the lush tropical forests, they also foreshadow the 
aridity of the lands lying in higher latitudes. The 
same air mass that soaked the rain forests is now 
cool and contains littie moisture. 

Winds force the cool air downward, and as it 
circulates back toward the Earth's surface the air 
warms up This <Wwiil!n g dry air be- 
comes ahot breath blowing across land masses in 
rainless belts wherein exist some of the world’s 
most arid lands: die Sahara of northern Africa, 
the Arabian Desert and the TakHmakan Desert 
of Central Asia. In most of. the. two belts that 
girdle the earth between 15 and 30 degrees north 
«nd Krairfi of tiw equator, desert reigns.' 

Changes in the amoont.of energy received 
from the sun, which are related to the 11-year 
sunspot cycle and the corresponding magnetic 
activity, constantly shift desert boundaries. 
These changes cause floods as well as droughts. 

My studies of the records of water levels of 
Lake Nasser behind the Aswan High. Dam depict 
a complete picture:. The levels of water were 
dangerously low in 1973 and 1984 after periods 
of African droughts in 1968-1971 and 1980-2983; 
thk corresponds with the period of highest sun-, 
spot activity. Furthermore, both periods were, 
followed by dangerous floods in 1975 and 1985, 
at the point of lowest sunspot activity. 

This cycle is superimposed cm a rhythm whose 
phases last fra thousands of years — that of 
alternating wet *nd dry climates in the desert, 
which are related to global changes in the Earth’s 
atmosphere and perhaps to the ice ages. In to- 
day’s African, deserts, which straddle me tropica 
of Cancer and Capricorn, I have encountered 
bones of awwnala, offlieh egg shell fragments and 
human-fashioned hand tools, mining «nH gritiri- 
ing stones and pot f ra g me n ts. Such remains bo- 

mow than 300 miles farther south than they are 
today. That dry episode left sand donas so cnor- 

dkjus dun they arc viriblein sp^photc^aphs. 

The last wet episode persisted from IftOOu to 
5,000 years ago, which is the time of jmtration or 
civilization along the banks of the Nile. 

The lessen, to be learned is that the desert 
forms when the global circulation pattern or the 
atmosphere limits the amount of rain. 
According to my observations doting a dozen 

journeys ***♦» the Sahara, that desert was born ot 

water and shaped by toe wind. Its flat terrain was 

the result of thousands of years of erosion of rock 

Heating of the air by the sun’s rays causes it to 
rise in the atmosp here. If the air bang heated is 
over an ocean, moisture is picked up by evapora- 
tion. Since the sun’s energy is strougest’over the 
equator, tropical storms that farm over those 
oceans tend to contain a lot of water. As that hot 

The raks are usually arranged as chapters of a 
book. In wiccrsai ve layers of sediment, they tell 
the continuous — g* a wet dry 

rKmaten In tlw wostem Sahara, na rtimlariy 

in the western desert of Egypt,ihe earnest human 
habitation sites flourished m a period of ram that 
prevailed 180,000 to 200,000 years ago. My re- 
search Kan established thnf ring vu fol- 
lowed by a period of scorched dryness. 

The next ramy period came about 60,000 years 
ago, and was again followed by a dry episode. 
Thencameanomerwet chapter in the history of 
the Sahara about 25,000 years ago. 

Those alarmed by the southward march of the 
• Sahara Which tfwy hlmnenn nwynt Qi m opufe 

the last ice age, the borders ofaf&^rawn 

The force of the water dismantled mountains 
grain by grain, dug wide nhannak in the plains 
and; deposited layers of sediment in lakes that 
formedm die lowest areas. 

- With the onslaught of dry climates, the wind 
takes over. It whirls fine particles of the Sahara 
into the atmosphere, which travel across die 
Atlantic and descend into the Caribbean, render- 
ing die sunsets of Miami yellow. As dry condi- 
tions persist, the wind lifts grains of sand and 
wwirnniatBs th em into marching tinnas 
• Today’s misery in the arid lands of Ethiopia 
and Mozambique is caused by an enduring 

devastation of the Sahel a decade ago. Die prob- 
lem is that drought is not a one-time event. 

, Knowing all this, what is it that we should do? 

Thewriter, a Massachusetts geologist, >un science 
adviser to the late President Anwar Sadat of Egypt 
and is a forma- director of the Smithsonian Institu- 
tion’s Coda far Earth atd Planetary Studies. He 
contributed this comment to The Washington Post 

Calling the Soviet Union Equal Doesn’t Make It So 

) ARIS — A driving motivation of By William Pf aff . material amenity in Russia certah 

1 — «... TV— J kur n. 

P ARIS— A driving motivation of 
Soviet leaders since World War 
II has been to have the U-SJUL ac- 
knowledged as the “equal” of the 

The trouble is that t 
are equal doesn’t make 

Before die war the one in die U.S. g y v nmm nnt, npA tew 

Soviet Union danns an equal politi- 
cal role. It wants something like a 

Soviet Union had deliberately Jaolal- 
ed itself; its role was that of a rogue 
state; a revolutionary power that 
all the others. The *wn'Br. 
victory over Nazi Germany, after an 
unparalleled ordeal, made it possible 
fra the Soviet leaders to think of then- 
nation in & different way. 

The developing conflict with 
America conformed to the Soviet 
ideological conception of a worid 
divided between revolutionary and 
couaterrevohitianary forces. But of 
course this amception, while theoret- 
ically attractive, drew its emotional 
power from its ratiouafization of tra- 
ditional Russian nationalism. 

Ideology and nationalism are both 
at work, then, when dm Soviet gov- 
ernment demands recognition of a 
Soviet rede in wudd affairs equal to 
that of the United States, the conces- 
sion of eqnal military influence and 
Rnssum-American consultations on 
the Middle Hast, the crisis in south- 
ern Africa and so forth. There are 
Americans who argue that if this were 
done, Soviet-American relations 
would enter a happier stage. 

aft make mem so. No cal role. It wants something tike a 
L go vernment, and tew ctmA arrmrimn with the United States 
informed persons etewbere^in the -ever wadd affairs. It even thought a 
world, really think dial the' Soviet decade^ that it had it. To Moscow, 
Union and the United States are r coadoainaiin ^ was the implied rigpif- 
equal powers other than in the' icance of d&ente. The two big powers 
strategic nudear Cones they possess. : would make die derisions about 
(Whether these are exactly or sub-' arms, the future of Europe, the Mid- 
stanlially equal is obviously a techm- dlfr East and so forth. It was not to 

butaiso onthe larger achievements of a society. 

cal argument as wefl as a heavily be. The Nixon administration itself 
charged political one. Few would a t-^ moved to exdude the Soviet Union 
gpe; however, that the two countries bran the Middle East peace arrange- 

are not “equal” in the dam- 
age they can do to one another fra 

Qn military strength overall, many 
say the Soviet Union is superior. 
Such was a theme of ' Romdd Rea- 
gan’s first presidential Mmp«ign jn 
1980. Soviet conventional fames cer- 

dam- meets that followed the 1973 war. 
er fra - -- -The fact is that world influence 
rded.) rests not only on military power but 
many also on the larger achievements of a 
tenor, society, the quality of a nation. The 
Rea- Sov^eamomy t Stn7asdedcc,mt^- 
gn in l ec to ri life in die Soviet Union, the 
seer- regime that the Soviet system has 

tainly are more numerous than those- imposed upon the.culture and rivifi- 
of the West, and Soviet naval and air. zation of the nation — - this simply 
forces are expanding. . will not sustain die political role 

forces are expanding. 

Once one steps ; outside themilitary 
domain it is a AU T er e nt matter. The 

will not sustain die political role 
churned by the UB.SJL ; - 
The quality of -life and the level of 

Root Out the Rot to Spare the AUUmce 

charges of espionage hold iro 
in court, American aid dollars wul 
have been channeled by Israel into 
the pockets of American traitors. 
That will blow qp, not over. 

Contributing to the sinking feel- 
ing in die hearts of many of load's 
staunchest friends is an as yet nn- 
spoken anxiety: Thanks to some 
inexcusably nnsupervised Israeli 
zealot with no conception of the 
obloquy to which he was exposing 
his country and Jews e v ery wher e, 
anti-Semites in America have been 
handed the dub of “dual loyalty.” 

The accused spy is reportedly a 
Jew and an ardent Zionist How 
many other strongly pro-Israel 
Americans will now be asked, wife 
a snide, where their true loyalties 
he? How many straigfat-deahng Is- 
raeli diplomats will be suspect, now 
that two are so widely accused of 

r unning spies? That is w hatemhit . 

tets the anger of those normally 

By William Safire 

proud to give a democratic aifly the 
benefit af fee doubt We know that 
our admiration and sympathy fra 
land diminishes our Ui>. loyalty 
not a whit, and are outraged at the 
spectacle of betrayaL- . 

Allies should not roy on each 
other, beyond the “national techni- 
cal means” they use to listen rou- 
tinely to every nation's communica- 
tions, and never to the extent of 
suborning treason. When I call the 
Israeli Embassy, I know fee call is 
taroed and tapoi, as U.S. Embassy 
calls are in brad; feat is accepted ' 
procedure. But boring each other’s 
embassy personnel is not We ex- 
pect the Russians and Communist' 
Chinese to be roving on us, but 

expect better of mends with whom 
we share many secrets, fit a cynical 
worid, there is stiH a degree at trust 
lam told feat doting a late-night 

meetin g with «hft Anwrimn irmhne. 

sador. Prime Minister Shimon 
Peres showed some of fee stolen 
inteffigeace that revealed the Unit- 
ed States to have the mosrmtimate 
knowledge of Is r aeli decision-mak- 
ing- The implied message: If you 
jmu this thread, more than one na- 
tion's dirty tinea may unravel ■/ 

- - Let us puH until the truth is out 
In democracies; the gover nm ents - 
run fee intelligence agencies; not 
fee other way around. If anybody, 
in either Country is paying traitors 
in fee othec, the people of both have 
aririntoknowrilaboutiL Certain* 
ly me investigation win be enibar- 
nmnng prriiftjX mor e than ifltdK- 
must root out die rot before it cor- 
rupts the riEmcu 

This has bea excerpted from a 
New York Tima cobam written be- 
fore the Israeli gaveritmenFS public 
tgohgy io die United Stotts Sunday. 

The Verdict 
On Geneva: 

By Philip Geyelin 

W ashington — The com 
front moving outward from 

conservative quarters in Amend is in 

fee nature of a sigh of relief feat 
somehow Ronald Reagan, their stan* 
dard bearer, did not go to Geneva 

and sell the store. U is an interesting 

c ommen tary oo the value of sunirai£&- 
What the president’s best-friends-' 
turned -critics are saying is feat the 
only thing preferable to fee summit 
would have been to have had no sum= 
mit at afi. Their reasons range from 
the implication of “moral equiva- 
lence" conveyed by the respect Ron- 
ald Reaean and Mikhail Gorbachev 

material amenity in Russia certainly 
bear no serious comparison with 
what exists in Western Europe and 
fee United States. The Soviet econo- 
my is backward and no one has yet 
found a way to make it work well 
within the existing administrative ap- 
paratus and planning system. Re- 
forms^ actual or planned, under the 
new Gorbachev regime give no evi- 
dence of more than marginal im- 
provement The Soviet Union is cul- 
turally stultified, a museum of 19th 
centmy Russian cmBzatioo, with in- 
novation forced underground, artists 
and writes compelled to say what 
they think only outride the estab- 
lished cultural apparatus. 

It is a country rapidly being over- 
taken in industrial weight by Japan, 
winch long ago surpassed Russia in 
the quality and sophistication of its 
products. Important baric scientific 
research is largely Western. Innova- 
tive technology is Weston and Japa- 
nese; fee Soviet imdfigaoce service 
devotesitsdf to stealing it 
. The Soviet system is not a riv xys s 
even by its own material standards. 
The ambitious economic and social 
.forecasts of the Central Committee’s 
program in 1961 were largely with- 
drawn this year. The transformation 
of Soviet Russia from its present offi- 
cial status, that of “mature social- 
ism,” to communism itself — when, 
as the student wiD recall, the state 
itsdf begins to melt away — is some- 
thing not even the most romantic 
Soviet official can seriously envisa ge , 
Nikita Khrushchev had said that "a 
C omm u n ist society wiD. in the mam 
be buflt in fee U.&SJL by 1980." 

- - The Soviet leadership wants fee 
United States to cooperate in a fic- 
tion that would compensate fra the 
failures of contemporary Soviet soci- 
ety: the fiction of a binary global 
system in which the U.SJLR. and fee 
U-SA^ by d ial e c tic al right, preside 
over history. It cannot have it, and 
not simply because America and the 
rest of the West are unwilling. (There 
are A mg ic a ns who have toyed with 
this idea of a condranmhmL Aftra all, 
it Hatters America as well as Russia.) 
t - The Soviet leaders cannot have it 
because the facts will not «w*fl in it 
Thewodd cannot bestow upon Sovi- 
et Russia a stems feat fee Soviet 
people and their society have not 

earned. That is fee dilemma, and also 

feetragedy, ctf the UiLSJL today. 

- © loss WUBdm Pfaff. 

paid each other to the unbridgeable 
Ideological gulf between fee two sys- 
tems and the innate treachery of the 
Other Side. Their conclusion: An ex- 
change of fee Bolshoi fra the Beach 
Boys is about as far as U.S.-Soviet 
relations should be allowed to go. 

The proof of feat proposition is 
supposed to be the emptiness of sum- 
mit encounters in the postwar era. 

It is an easy argument to make: A 
succession of summit exercises con- 
ducted by Eisenhower, Kennedy. 
Nixon, Johnson, Ford and Carter did 
not resolve fee Cold War; they did 
not forestall the crisis in Hungary, 
the Berlin Wall, the missiles in Cuba, 
fee assault on Czechoslovakia, Com- 
munist encroachments in Ethiopia, 
Yemen, Afghanistan, Angola, Nica- 
ragua and Cambodia, or the shooting 
down of a South Korean airliner. 
They did not put an cod to Soviet 
espionage, or to gross violations of 
human rights in fee Soviet Union. 

So n mifo for the whole idea of the 
leaders of the two great superpowers 
getting together. “The sheer nothing- 
ness of the [Geneva] conference is its 
paramount achievement,” William F. 
Buckley Jr. argued recently. That 
land of talk is coming from what is 
thought to be an ascendant body of 
opinion in American politics — a 
conservative renaissance. 

Yet the political leader of this re-. 
naissancc, Mr. Reagan, appears to 
have moved into the camp of those 
who come to grips wife the reality of 
manag in g relations wife a powerful 
adversary and anxious allies while 
responding to the mgs and hauls of 
politics at home. He has joined the 
rest of the postwar presidents, who 
accepted summitry as a necessity of 
life in fee nudear age. 

The awful things that have hap- 
pened despite summits are not neces- 
sarily the whole stray. It is not entire- 
ly imnriiftw to ponder a hypothetical 
question: How much worse might 
things have been if the leaden of the 
United States and the Soviet Union 
had coolly kept fear distance? 

That is the tormenting dilemma of 
what is called preventive diplomacy. 
There is no way to demonstrate the 
consequences averted by trying to 
diffuse confrontation, by trying to 
define what is intolerable behavior by 
both sides, by trying to readt modest 
treaty agreements. There is no handy 
measure of the good things derived or 
fee bad things avoided by having the 
two top men take each other’s mea- 
sure and bear each other’s case. 

But feat is no reason to abandon 
preventive diplomacy. 

Leaving asde what each man may 
think he gained in the Geneva meet-; 
ing, I would argue that the meeting 
justified itself with one accomplish- 
ment: the agreement to meet again, 
not once but twice. There is some; 
thing to be said for making these 
encounters commonplace. 

That is what Harold Macmillan 
had in mind 25 years a^o when he 
deplored the cnris-creating, propa- 
gandists quality of one-time summit 
meetings and argued fra a “dram ctf 
peaks." To a Ira of people it rounded 
too sensible and too orderly for a 
disorderly East-West relationship; 
And yet we are closer to fee concept 
of regularity in summitry as a way of 
easing the confrontation between the 
superpowers than we have ever beeri 

That opportunity would not be 
presenting itself if the head-knocking 
at the most recent summit meeting 
had not been vigorous enough to test 
just how far' either ride was ready to 
go and at what risk of a blowup and a 
bad scow. There was a recognition 
on boflradet feat while some of their 
differences were p ro fo u n d and irrec- 
oncilable, some were not — and that 

there were good reasons to address 
those that might be reconcilable. 

Not the least of fee reasons was an 
apparent mutual recognitio n ihm ihit 
was not just a debate between two 
great powers over dashing concerns 
and opposite -ideologies; that others 
had a stake -in the handling of the 
superpower crarflict; that how well 
badly it was handled would directly 
affect the s up erpo w ers * standing and 
interests in tne rest of the worm. * 

Insofar . as Ranald Reagan and 
Mikhail Gorbachev aune to those 
conclusions at Geneva, the worid is 
markedly better off. 

Washington Post Writers Group. 

No, Criticism o f Israel Is Not Anti-Semitism Terror a Dilemma 

w .. ’ Raymond Prico in 


X yTY recent letter (IBT t Nor. 20) 
1V1 prompted not only angry let- 
ters to your newspaper bm also 
letters and telephone calls to my 
home, many of them anonymous. I 
sympathize wife those readers’ re- 
actions, but they missed my point 
There are both Israeli and U.S. 
officials who can testify feat I have 
spent a considerable portion of my 
adolUife devising waw in which the 

two governments ana private agen- 
da can cooperate in pursuits of 
mutual interest Bat there is always 
rate difficulty: While discussions 
wife Israeli officials are normally 
frank, unemotional exchanges of 
views such as we Americans have, 
fra example, with our British coup- 
terparts, discussions wife American 
supporters of Israel invariably 
break down, wife the points at issue 

being *himnrd aside and anyone 
who suggests that load is not 100 
percent perfect being silenced or 
faced “tmdagrouiur by accusa- 
tions of “anti-Sennrism.” 

I have long been out of govern- 
ment, but I remain dose enough to 
it to assert the fopowing: In nearly 
50 yean of experience I have yet to 
meet a single anti-Semitic. Amerir 
can diplomat or intelligence officer, 
yet the time is nigh when the UJL 
government tnay take to heart what 
Harry Levitt implies in his letter 
(Nor. 29) — that Israel is a special 
concern of Jews everywhere, re- 
gardless of nationality — and op- 
pose the appointment of Jews to 

- than, a it toppens, competri&asd 
loyal Am«icans .who take seriously 
fee naturalization oath (taken, for - 
example, fry Henry Kissinger in 
1943) to “absolutely and entirety 
renounro and abjure aHaOegiance ' 
and fidelity to any foreign prince, , 
potentate or sovereignty, - and who . 
are constantly embarrassed by the 
insistence of persons such as Mr. 
Levitt that .they have an oMigafiaa 
to luftrl that ordinary Arftfficaris- : 
do not have. Thor removal from 
office would be a.sad Iras fraus all, 
and T suspect that some aLfeem. 
occasionally refrain Ifromi taking;., 
positions favorable to Israel which 
they should lake as Americans mt- : \ 

Raymond Price; in “Terro rism- a 
C ase fra New Roles*’ f7fov. writes 

' feat .“terrorists should be given a 
swift death penalty” So tire South 
Africans should have done away wife 
Nelson Mandela? The British with 
Menacbem Bepn, after the King Da- 
vid hotdbothbbgin 1946? Tire Mex- 
icans wife Sam Houston in 1835? 
And fee British with Thomas McMa- 
hon/kifler of Lord Mounfeatten? 


Cambridge, England. 

Some Flaws in Common 

it to topport a variety of very nasty 
tyrannies, we will not make pro gr es s 
toward a more genuine East-West dfc- 
mute- Hu Western pot and the East- 
ern kettle tom out to have some very 

undesirable features in c ommon . 


w. * 





"Hiank you fra-the irony vfeidi on 
.■Noy-27 placed WHEam Satire's col- 
uhm. next to Dave Dnrenberzer’s 


A BeefFnHn'Europe 

.. ‘‘Most governments, mrfwfmg 
ropean ones, occasionally resort to 
bure aucrat i c ingenuity to V tm out 
routed impwts£ says theefetorial 
“Of Security and’ Sausages” (Nor. , 
29). Unwanted, indeed. Meat can' I 
fko bc a ni^or source of saturated 
rats, hormones, antibiotics and pcsti- 

pose the appointment of Jews to they should iakcari4iner^a>u am- Dureriberger’s ode residues. The European Com- 

poationsm government where they ,• ply because they want to avoid any ‘ Mrai Distance Itself mtmity rightly imposes stringent 

can influence forelgi policy. ' saspkhd ctf divided' jqjHZty. .- , : 4 7**™™?**- yam people Eke Mr. standards. & the vJL meat industry 

At promt, most of those posi- : . . MILES COPELAND. lha l!j lat 10 «R0rt mfenorprodnets? 

^ ^ -ft* : - 



Z:^ C* 
:n i fn, 
Ti jT&fc 





Page 9 

Decorating Doors: 
Portal of the Artist 

kr.-. ^ 

. By Joseph Giov annin i 

-•- Mew York Times Service . 

F >ERHAPSh is because they al- 
nsdy have frames that doors 
suggest- themselves to artists and 
craftsmen as a type of canvas. 
Newly popular, .decorated doors 
dene in a variety of materials and 
methods —cot tin, stencils, wood, 
glass and metals — make the act .of 
waning into a house or from one 
room into another a slightly special 
moment in the everyday life of a 

■ to *0* on.” ^ Megan Perry, a. 
painter based in Boulder, Colora-" 
da ."There’s something pictorial 
about a door.” In the serpentine 
hallway of a Colorado home, where 
Where was nothing but doore — 11 
doors," the artist painted each, tak- 
ing inspiration from what was be- 
hind iL She painted coffee cups on 
a door. leading to the kitchen; the 
door with a pet cat opens into the 
giifs room, and that with bombers 
into the boy’s. Petty paints doors 
on commission, in ha* studio, then 
transports them to the home, 
where, she said, hanging them pro- 
duces a dramatic transformation of 
the room. ‘Doors are one of the 
few architectural parts of a house 
that move, which makes them in- 
teresting for pamiing,” she said. 
IAs pannings, they’re seen in dif- 
ferent positions — not amply flat 
on a wall.” 

For Federico Armijo, a sculptor 
who lives in Albuquerque, New 
Mexico, doors are a sculptural op- 
portunity: “Some people who 
wouldn't buy a sculpture would 
buy a sculptural door because it’s 
functional." For the front door to 
an adobe-style house settled among 


1 7-?ij 

... ' '-' > '4UX| . 


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- \\ ■ .L k 

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a mm*r 


If an feMRWE? /WZ^SK. 



OF IT, OKAY? HO , , &NEF0U5 
H0,IAB90Uim OF**} 
A&STi 50% ! 5jr7 

The artist finds and cuts scraps 
of tin, at taching them to a solid 
wood door with small brads as a 
type of collage or mosaic. At a 
distance the image is clean dose 
up, the construction is viable. 
"Tony finds old metal boxes and 
suitcases, and suddenly you have a 
new door to your kitchen, and it’s a 
Garden of Eden,” Strauss said. 

For David and Ginny Fax. the 
idea for decorated doors in their 
New York apartment came as the 
couple walked through a furniture 
showroom and saw large walls of 
textured lead glass dividing one 
space from another, establishing a 
sense of privacy but admitting 
light. The couple had just bought 
two apartments, which were bang 
combined by Richard Lewis, a 
New York architect, into a single 



'CVV* - 
-^~v ”q- ■ 

huge granite booldera in Carefree, 
Arizona, near Scottsdale— a group 
of boulders once occupied by Indi- 
ans — the sculptor made a free- 
form wood door surfaced in alter- 
nating bands of copper and bronze. 
The metal protects the wood from 
the great beat of the desert. 

While the heaviest of Armijo’s 
doers weighs about 1,200 pounds 
(545 kilograms), that in the Empie 
bouse is about 400 pounds. Hang- 
ing a door of this weight requires 
hinges with ball bearings; often Ar- 
mijo uses concealed tinges, bet 
sometimef. he adds another piece to 
cover an exposed hingp. 1 Tie sculps 

tor said he had to consider secnriiy 
in his doors and bad 
used electronic equipment Prices 
for his doors, which are done on 
commission, have ranged from 
51,500 to 59,000. 

Tony Beriant, a California artist 
who has fashioned more than a 
half-dozen doors out of scrap tin, 
relates the interest to a long tradi- 
tion of decorated doers. “North- 
west coast Indians centered their 
doors and painted them as a mouth 
of a fish or a serpent," he said 
"Italian Renaissance artists' did 
elaborate wood doors.” 

Contemporary efforts range 
from examples erf craft and decora- 
tive art to those of fine art. Artists 
design them for a particular door- 
way and client, tailoring the design 
to the nature of the house and fam- 
ily. The doer belongs to the house 
and, unlike a panning, does not 
move with the family. 

“When you do a work in context 
of a house, you don’t have the free- 
dom of an artist painting for your- 
self for a angle buyer you don't 
know ” Beriant said. “Other people 
have to like it, and you somehow 
feel more responsible. That it’s go- 
ing to stay there between a kitchen 
and dining room also stops it from 
being a piece of gallery art” 

The seven doors Beriant has 
done over the Last several years 
have all been for friends — “I like 
making an object that m see for 
many years rather than once in a 
great while," be said- Early this 
year, Beriant installed a kitchen 
door in Los Angeles for Ted and 
Ludy Strauss, a writer and a gallery 
owner respectively, that started as a 
personal appreciation of the inti- 
mate Christmases the family holds 
each year. Beriant. a family friend, 
at fust depicted a Christmas tree on 

both sides of the swinging doer, but 
the door quickly evolved into a vi- 
sion of Eden, complete with a 
snake in the tin grass and a small 
red apple tempting in a blue tree. 
On the door to her studio in the 
house, Mrs. Strauss already had 
another "Garden of Eden," with a 
golden apple, a weaving done in 

Copper and 
bronze front 
door of the 
Empie borne 
in Carefree, 

Dutch door 
done tiy 
Perry, an 
artist in 

large apartment, and they realized 
that translucent glass doors would 
admit tight into a dark entry from a 
windowed kitchen. The couple 
commissioned the artist Maya Ra- 
doezy, who lives in Seattle, to do 
the hall doors and a pair of pocket 
doara between the kitchen and din- 
ing room. The four doors, now in- 
stalled, have re gul a r ribs erf lightly 
rippled glass, in an armature of 
lead; diagonal strokes of leaded 
glass break up the regular geome- 
tries. The artist charges 5800 to 
55,000 for her projects. 

Decorative glass was also the so- 
lution in the studio of James Hong, 
a New York architect; the entrance 
had an unattractive, industrial 
front door. La an exchange of pro- 

fessional services, he asked Carmen 
Spera, a New York artist who 
paints an glass, to decorate a piece 
of glass that would simply fit over 
the door inride the studio. The door 
Spera created is a strident pink, 
green and yellow, and features cac- 
tus; a hole is notched out of the ride 
for the dead bolt Hong says be 
only has to nuke sure not to slam 
the door. 

China Clipper Plane’s Route Revisited 

Compiled bj Ow Staff From Dispatches about 350 people, stopped at each Guests and passengers on the 

S AN FRANCISCO Carrying of the original landing sites forcer- jumbo jet danced, dined and re- 

a cargo of living history, a mod- emonies. In Hawaii, a plaque was numbered. Tbe 1939 movie “China 
era jumbo jet dubbed the China unveOcd at Peari Gty while a U. S. Clipper," with Pat O'Brien and 
Clipper II has mad* a “time cap- Navy band played In Manila, Humphrey Bogart, was shown eo 

Guests and passengers on the 


ImmiUdm ■hEJw 

FUR IN A NEW 'll] 

Brochure on request LM 
<.417 Fifth Awl, NYC 10016. 

em jumoc 

Clipper II 

Chinn unveiled at Peari Gty while a U. S. Clipper," with Pat O’Brien and 
v cap- Navy band played In Manila, Humphrey Bogart, was shown eo 

suie" fb ghi re-enacting the first Imdda Mi 
irons- Pacific crossing of the origj- Ferdinand 

Navy band played. In Manila, nump 
Imefda Marcos, wife of President route. 

E Marcos, joined the 


nai 26-ton flying boaL Among group for two evenings of activities, spend me Thanksgiving weekend 5!# Vi if mini loiirn 

those aboard were four grandsons The Orina Clipper II jumbo jet with friends and relatives in Hong RY J. rUllLIOlltK 

of Charles Lindbergh, the mani who covered the route from San Fran- Kong or Japan. The Lindbergh leading book publisher seeks manu- 
znapped the route m the 1930s for cisco to Manila in 17 hours pud 40 grandsons, Lars, Lief, Brie and uripn of on types, fiction, non&rion, poetry, 

^nttiwith four stops. The fist Mrasm-saidlhey were beadedfor 
At wngnt, son of another cany China Clipper seaplane took 59 a grand adventure m Malay- Vantage Pre», 516 w. 34* sl New York, n.y, 

aviator, Chauncy (Chan) Wright, hours and 48 minmec. Passengers sia. ioooi ujsa 

' - v ' ‘ - (UF1.API 

wait along on the 50th anniversary then traveled in high style: Dinner 
celebration. So did .the space shut- vjas served by a steward, complete 
tie astronaut Henry W. Hartsfidd with linen, china and silver. The i 
Jr, the novelist James Miche ner ; plane bad sleeping berths, similar 
C. Edward Acker, ritainnan of Pan ^ Pullmans, for the leg between 
American airlines; and Ben Gar- California and Hawaii 
ndoBlm, Guam's nonvoting dde- The China dipper ITs trip was 
gate to Congress. • (]je last such flight in the Pacific for 

Pan AmericamThe Pacific routes 
proneere who built and manned the ^ fkw for 

Loading subsidy book pubfaher seeks manu- 
scripts at all types, fiction, non&tion, poetry, 
juvenile, s ch otoriy and retaous worts, etc New 
authors welcomed. Send fix free booUei 1+3 
Vantage Press, 516 W. 3«h St* New ^ York. N.Y. 
10001 UJ5A 

Cashmere Plvs of Course 

ths ,S P ?“ more tlun ulf a ceatiny hm been 
_ Mmn-130 ^ to United Airlmi md Pm 

^ „ffl be puOiiig an of the area 

Honolulu. Midway Wake TgianH J Acker, the Pan Am chairman, 
Guam and Manila. digniiaries at every slop that 

For laches and men. 

Best prices/ Export discount. 
Alexandre Savin's 
Cashmere collection 
Exclusivity: Cashmere Hoose. 

Cashmere House 

2. rue d*Aguesseau 
angle 60, Faubourg St-Honore 

hulled, high-wnged Clippers were 
capable of flying 3,200 utiles non- 
stop at 130 miles an hour. 

The original Clipper flight was be planned to have the airfme move 
100 years to the dry afiotbe first back “to the Pacific someday, 
clipper sailing ship arrived in San' “This flight is a salute to the past ^ 
Francisco. and to ihe pioneers of Pan AmT he 

The Clippers are gone now, all said. “Perhaps there is a certain | 
crash victims. Built by the aviation irony, but we’re not celebrating a , 
pioneer Glenn Maxim, the sleek- route, we’re celebrating a sense of 1 
hulled, high-winged Clippers woe courage, spirit and dedication." 
capable of flying 3,200 miles non- John G. Barger, a retired Pan 
stop at 130 miles an hour. Am vice president of engineering 

John B. Cooke, 75, of Penn Val- from Tenafly, New Jersey, recalled 
ley, California, was the radioman how he helped build tbe landing 
who signaled the takeoff of the first and refueling facilities at the “siep- 
“ flying boat" from San Francisco ping stone" bases of Midway and 
Bay cm Nov. 22, 1935. He and bis Wake, then onmhahiled. 
wife, IsyL also 75, were the first “Evexythmg had to be brought in 

couple to live on Wake Island. The by cargo ship, including two pre- 
trip on the China dipper U was fabricated holds.” he said. “We 
their first visit to Wake in five de- built a railroad line to bring the 55- 
cades. gallon fad drams ashore from the 

The first China Clipper’s pilot, reefs. It was quite an undertaking 
Ed Murick, was lolled when a sister and quite an adventure.” 
ship, tbe Samoan Clipper, went up Blaz, tbe Guam congressional 
inflames ini 938. The original On- delegate, said the re-enactment 
na Clipper's navigator, Fred flight was like bang in a time cap- 
Noonan, was last heard from some- sule. “We all want to go one more 
where in tbe Pacific, where he was time on a sentimental journey into 
flying with Amelia EarharL the past," he said. “This top has 

The China Clipper II, carrying given us that chance." 

Les Halles Extension in Paris 




Atence Franar-Prase 
IS — A new underground 


the site o 
ket, addh 
dH ties to 

Paris's old central mar- 
5 sports and cultural fa- 
30 Foram shopping cen- 

M&yor Jacques Oh'™*--, inaugu- 
rating the project at Les Halles, 
admitted that “there is growing in- 
xcmity in this area, frequented by 
drag dealers and addicts.” but 
promised the city would “do all in 
oar power to salve this problem.” 

The underground project, con- 
ceived by the architect Paul Che- 
metov, is on three levels built 
around a main street 100 meters 
long and 10 meters wide. Experts 
said Chemetov treated the develop- 
ment Eke the interior of a cathe- 
dral, with huge beams and concrete 
pillars, reminiscent of the SL Eus- 
tache church, which is overhead. 

The street, called the Grande 
Galena, links two main squares, 
one of which leads to the Forum 
and public transport. 

Hind us in U.S. 'Adopt’ Cows 

The Associated Press 

D ETROIT — Hindus who find 
it impossible to keep a cow 
are being offered a chance to aid 
their religion's most sacred ani m al 
through a farm’s Adopt-A-Cow 
program, guarani wing an arumaTs 

Herbert Bressack, director of the 
Gita-nagari Farm Community in 
Port Royal, Peansylvama, said tbe 
farm offered three plans for Hin- 
dus who want to help protect cows. 

Jag Busban Kanl and his wife; 
Veeoa, became life members of 
Adopt-A-Cow three years ago 
while living in Scranton, Pennsjd- 
vania. The couple, who now live in 
Detroit, paid 53,000 to guarantee 

that “a cow will be under your 
protection for her entire life.” 

“Our donation was not that 
much," said Mrs. Kacl, who, like 
her husband, is a native of India. 
“But that was before the present 
campaign started We have seen the 
farm ana if s very weS-operated" 

Another Hindu couple, Howard 
and Edith Best of Detroit, entered 
Adopt-A-Cow under a second 
plan, paying 530 a month for a 
year. They receive a photograph of 
their cow and periodic news about 
iL sweets made from cow's milk 
and other daily products, and a 
weekend's stay at the farm, about 
60 miles (100 lolometeis) northwest 
of Harrisburg, Pennsylvania. 


Based on his long and intimate acquaintance with 
Bombay our foreign correspondent writes; 

“Of all the things that people drink in Bombay, 
water has never figured prominently. £9| 

Most prefer Tonic in Bombay, Mar- EjH 
tini in Bombay or Orange in Bombay. 

Indeed, anything that one would 
usually mix in Bombay. 

But. let me assure you, there f 

is no need to stay dear JS 

Those rumours Bj U£ 
water does not mix j|H 

ported London Dry j jjj 

truly ill-founded." 

A 636-seat concert hall is 
ptannwri, in addition to a music Quartz movement - Water resistant 5-atm 18 K gold, 

conservatory, a discotheque and a gold and steel, all steel. Natural rubber strap. Registered model, 
recording studio. 1 

“Canon are to be congratulated, 
first and foremost for taking 
what must be one of the most 
complicated systems around 
and reducing its control to a 
simplicity that literally has to be 
seen to be believed.” 

‘35mm Photography ’expressed their amazement 
when faced with 
the brilliant T70. 



iT ( > 


From Paris To Atlanta 

From New York id Texas, from 
Florida to CaBfbmia, Delta flies you 
just about anywhere in the USA, 
Catch Deltas nonstop from Paris 
to Atlanta, where you can make easy 
Delta-tD-Delta connections to 100 
cities across the U.S. A. 

Delta also has frequent daily 

service from the New York and Boston 
gateways to dries across the US. A. 

You can also fly Delta nonstop 
from London to Atlanta, from Frank- 
furt to Atlanta and from Frankfurt to 

Call tout Travel Agent Or call 
Delta in Paris at 1-335-^080. 

Or call Delta in London on (01) 
668-0935. Or call Delta in Frankfurt 
on 069 25 60 30. 

Delta Ticket Offices are at 24 
Boulevard des Capudnes, Paris, at 
140 Regent Street London W1R 6AT 
and Friedensstrasse 7, 6000 
Frankfrnt/Main. r.cj. Paris b 331443 70s. 

Delta Gets^wiThete* - 

without nonce. 

** ■ 

Page 10 


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Prices Fall Sharply on NYSE 

United Prat !nternationed 

NEW YORK —The New York Stock Ex- 
change suffered its sharpest loss m almost four 
months Monday as some investors, worried that 
interest raxes might not fall further, took profits. 

The Dow Jones industrial average fell 14.22 
to 1,457.91, the largest one-day decline since 
Aug. 6. 

Broader market indicators also retreated. The 
NYSE index fell 0-92 to 1 15.63, while Standard 
& Poor’s 500-stock index dropped 1.71 to 
200.46. The price of an average share fell 29 

Declines ontpaced advances 1,058-563. Vol- 
ume totaled 103-53 million shares, 19 from 
8406 nnDioa Friday. 

Analysts said some investors were concerned 
that interest rates would stabilize or even rise at 
least in the near term. 

The National Association of Purchasing 
Management said the economy strengthened in 
November and retailers reported strong post- 
Thanksgiving Day sales. The government re- 
ported U.S. construction spending rose 0.5 per- 
cent in October. 

“There are two camps on interest rates,'* said 
one trader at a major brokerage firm. "The first 
has a perception that interest rates are 
going to s tabilize and maybe even move a little 
higher. The second camp says rates will trend 
down. Right now, the first camp has the edge." 

Jerome Hinkle of Sanford C. Bernstein sad a 
lade of new leadership from the high technology 
and auto sectors, areas that have been strong 
recently, also weighed an the market 

Participants said “natural profit-taking” af- 

ter two months of Stomg advances also contrib- 
uted to weakness. 

“A Jot of people pot cash in to the market last 
week and there's more cash to come,” a trader 
said. “But some people are taking their chips off 
the table as wdL” 

Ricky Harrington of Interstate Securities in 
Charlotte. North Carolina, said the maricet was 
engaged in an orderly correction that coeld last 
one or two more days bat was not the start of a 
major move down. 

Baltimore Gas & Electric was the most active 
NYSE-listed issue, adding ft to 23ft. 

Baxter Travenol followed, easing $ to 14ft. 

Texaco was third, losing ft to 31ft. 

Sobering Plough was the session’s biggest 
winner, jumping 3ft to 60ft. 

Weakness was pronounced among high tech- 
nology issues, IBM fdl 1ft to 137ft and Digital 
Equipment dropped 2ft to 2 28ft. 

Among semiconductor stocks, Texas Instru- 
ments lost 1 to 101ft, National Semiconductor 
eased ft to 12ft and Advanced Micro Devices 
lost ft to 27%. 

Airlines woe mixed after dimbing Friday on 
expectations of lower oil prices. Eastern Air- 
lines added ft to 6ft. AMR Corp^ parent of 
American Airlines, fell lft to 41, and UAL Inrx, 
parent of United Airlines, added ft to 49. Delta 
rose ft to 38ft. 

In anticipation of lower petroleum prices, the 
oil sector contmned to weaken. Mobil was off ft 
to 30ft, Sohio fell lft to 51, Exxon lost 1 to 52ft 
and Chevron lost ft to 37ft. Atlantic Richfield 
fell lft to 65ft, PhQUps Petroleum lost ft to 12ft 
and Amoco dropped lft to 65ft. 

12 Mwdlt 

HJohLow Stock 



Mft Wi Lew 



12 Month 

WlLow Stock DN.YM.PE 







23 % 

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■ - V.I -VfV- '■ j* 

f n recent years, new and 
creative financial instru- 
ments have been introduced at 
as ever-accelerating pace in 
the international markets.Zero 
bonds, index futures, foreign 
exchange options, interest rate 
futures are typical examples. 

Stimulating many of these 
innovations, of course, is 
the magic of leverage - which 
allows the acquisition of a 
large portfolio with limited 

in US. treasury bond futures; 
a subsequent interest rate 
decline of 1% would result in- 
a return of U. S. S 9,750! 

Visions of quick profits 
have at times fueled excessive 
speculation in these instru- 
ments, and for the speculator 
there is the ever-present 
risk of a “leveraged loss" on 
the downside as we!L 

Bank Julius Baer 

" The international Investor" 

As usual, investment 
decisions based on straight- 
forward, timely information 
achieve the best results. 

Although futures and op- 
tions are not new, they are now 
being used in novel ways. 
Take interest rate futures, for 
example. An investment of 
U.S. $ 3.000 serves as “down 
payment" for U.S. S 100,000 

But financial futures are 
nevertheless a well estab- 
lished tool in the day-to-day 
hedging operations of insti- 
tutional investors. 

For Bank Julius Baa; one 
of Switzerland's most experi- 
enced and prestigious private 
banks, furnishing the serious 
international investor with 
professional in-depth analysis 
and sound advice is a matter 
of the highest priority. 

And there can be significant 
advantages for the conserva- 
tive private investor as well 
provided he receives sound 

The Bank’s international 
commitment rests on a 
century-old tradition, based on 
the conviction that excellence 
of service is the foundation 
for a lasting business relation- 
ship with its clients. 

Among the broad range of 
services it provides for the 
international investor; Bank 
Julius Baer offers valuable 
information and advice in its 
quarterly review, "The Inter- 
national Investor.” 

The current issue examines 
the pros and cons of financial 
futures and options in today’s 
rapidly changing investment 

We invite you to write today 
for a complimentary copy. 

Bank Julius Baer 
Dc Jan A Bielinski 
Bahnhofstrasse 36 
CH-8022 Zurich 
Tel.: (01) 2285111 
Telex 812115 




For the fine art of Swiss banking. 


20% — % 

13 369 47 % 47 % 

9 * 52 12 7 M 22 ft 22 ft 22 ft— 2 

262 27 * 27 
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134 30 % 29 % 
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87 x 27 % 27 ft 
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11.26 &% 
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268 57 % 56 % 57 ft 
386 41 ft 4 T% 41 ft— ft 
68 33 32 32 % — % 

26 19 tS% lift— % 
37 20 19 ft 28 .+ ft 
114 16ft Wft Mft + ft 
— 30 % 29 % 30 % — % 
69 69 ft 



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828 62% 61ft 61ft— 1 
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109 54ft 54 54%—% 

120 1* 1ft 1ft— % 

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341 19% 19ft Wft + ft 
633 51% 50ft 50ft— 1% 

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154 34 ft 34 ft 

14 14 % 14 ft 14 ft— % 
517 22 ft 22 % 22 ft— ft 
70 2 ft 2 % 2 ft- > 
2946 54 52 % 9 —lft 

4199 12 ft 12 % 12 ft — fi 
51 30 % 20 % 20 %—% 
261 218 2 JJ 213 —lft 
ft 25 ft 25 25 %—% 

7 110 ft 118 ft 110 ft + ft 

! lx 9 % 9 % 9 % 

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15 ft 12 c*ncpf 90 63 
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230 24* 24ft 24%— % 
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66 24% 24% 24ft + S 
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397 19ft T*ft 19ft 
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54*4 83% 82 32 —1% 

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Cola Pal 1J6 U 47 
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col Aiks JO 10 9 
cm Fdl .12 A . 
OriP*n 1A0 41 10 
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ColGas X18 09 
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CSOpf 142 119 
CSOptoUJS 117 
Soptnl625 139 
Camfiln Xu 43 0 
CmbEn 1A0 3A 
ComdN JO J 11 
ComMlI 36 1A 14 
Camdra S 

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CwE pf 190 109 
CWEPI 1X75 12A 
CwE pf 638 11 A 
CwEPf 237 97 
CwE pf 2A7 107 
CwEPf 640 1U 
ComES 252 89 7 
Comsat 1J0 3A 10 
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Canrac AO U 18 
CoasEd 2«i 64 I 

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CnPpfB 450 132 
CnP pro 7A5 133 
CnPpfE 732 133 
OiPpfG 736 110 
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CnPprU X60 14A 
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cooplpf 290 73 

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16 28* 28% 28% 

1479 30 29% 29* + % 

1K& 50 50 SB +1% 

356 27% 26* 26* + % 
845 W* 14% 14% — % 
1275 34% 34 34 — % 

151 63% 62% 62*— H 
715 36% 35ft 35*— ft 

s*f M» a 

1 27* 27* 27* 

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>002111 111 111 + % 
95M1S 109 110 

540 51 SO* Sf 
387 28* 28% 28* + % 
330 73% 22% 23 — % 
77 20 17* Wft + % 

3959 11% 10ft lift +| 
8131 29ft 28* 28W 
31 17ft 17% 17% 
100004 106 186 +1 
10* 76 76 76 

7 24% 24% 24% — % 
9 26* 26ft 26ft 
4190* 76% 75% 73% 

77 28ft 28% 28% — % 
495 32 31ft 31*— % 
723 27 26ft 26ft— ft 
24 27% 27 27 

210 29 28% 29 + % 

4520 1» 11% 12ft +T% 
382 41ft 41% 41«— % 
38x18% II 18% + ft 
22 22 31% 31% — % 

39 14% 14% 14% + % 
2139 36ft 36% 36ft- ft 
7 48* 48% 48*— ft 

a stats*** 

4 10te32* 32 32* + ft 

4410Z 35 33% 34 + * 

830* 56% 56 56% + % 

200X 58 58 « — % 

W MS Mft 26ft— ft 

21 27* 27ft 27ft— % 
37 27% 27 27% + % 

3 26* 26* 26*— ft 
17* 17ft 17ft— ft 
16ft 16% 16% — % 
27* 27ft 27* + % 
17* 17* 17* 

45* 45ft 45*-ft 
BV i Bft + % 
2% 2% + ft 

1 3 m 

= „ AO IS 17 



s an 

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Sm 1500 43 I? 
CrnvRl 31 

CrckNpfXAM 7A 
CmpK 130 S3 n 
CrwnCk IS 

CrwZol 1A0 2A 
CrZWPf 4A3 8A 
CrZatPfC450 7A 


IN .... i .._ 

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1247 lift IM lift 


438 41* 41* 41ft— % 
i^i ^ jQ 40 — * 
lit 18* 1B% IS* + ft 
450 ZTft 27 27% — % 

37 9* S* 9 — * 

38 17% 17 17 — % 

104 21% 22ft 22*— % 

4 13% 12% 12%—% 
1363 60* 58* 59% —2 
3 58ft 58* 58ft— % 
53 9% 8* 9 —ft 
22 9ft 9* . 9ft + % 
J8H— U 


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14* .V% DamonC 30 14 
10% 22% DanaCp 138 41 8 
• 9ft 5* Dandir 7 

15 6* DanM . .18b 23 

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76 31 DatoGO 47 

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11* 6ft DtaOW 34 19 8 
22 1416 Dcryco 3A 1A 9 

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29% 15. DayfPL 2A0 1X1 . 8 
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31% 24% Dp«t» 100 15 43 
26ft 20ft DPmP U2 7j I 
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38ft 29% DensMf IJi 5A 13 
37* 31% D45cto 140 4A 11 
17* 14 DatEd 168 11 J 7 
80 44 . DptE pf 932 123 

78 54% DatEpf 7AB 113 

48 51% DOtE P4 7A5 11A 

36% 23ft DEOfF X75 WL6 
38% 23 DEPTH 334 120 
27* 21% DEptQ X13 11A 
27* 22% DEpfP 2t2 119 
26% 22% DEpfB ±75 104 
29ft 24 DEpfO 340 1*3 
29ft 34% DEP4M 342 12J 
33% 28 DE Pfl 4A0 TX9 
34% 29 DEpfK 4.12 127 
117 KJ7 DE pfj 15A8 13A 
28* 16* DotEpr 230 UJ .. 
24 11% Daxtar JO 34 13 

18* 13ft Dtoior A4 16100 
33% 25% DIGJopf 2J5 7.1 
21 Wft DUMB , U7C10J 

39% 34% DtaShpf 4 j00 111 

22% 19* PtaSOfn 1AM 73 

11 6% DkmoQp JO 2A 4 

57% 31* DftMdS 100 24 15 

125ft 85% DtalM 19 

99% 56ft DIXW 138 12 53 

28% 18 DEIS 140 64 17 
6% 4% Dfvraln 3 

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34% 26* DomR» 284 OA 9 
26% 16% Donald A6 2A 11 
41* 44ft Danwy i.i6 13 li 
37% 23% DaTMV 121 3J 14 
42% 32% DoWpr JO 11 14 
39% Z7 DOWCA 180 43 16 
58 36% DOwJn 78 1J 71 

39% 8% Dowmy 400 U) 4 

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24% TTft DIW A8 4J 16 
21ft 17 DrexB 2A0 1U 
79* 35 Drwfiw AOa A 17 
-64ft 46% doPonf 100 4J W 

48- '31% duPntpf X50 9A 

SB 40 AuPntPf 4J0 9A 
35ft 28% DukaP 240 7A 9 
85ft 70% DukPPf 870 XL2 
BD% 65 D«taip4 X2D 105 

77 6T% DAW Pf 7 JD 104 

27 23% Duke pf 2A9 10J 

35% 30% DUkepf US 11.1 
■3% 60 DunBrO Z30 2J 21 
17ft 14% DoqU 106 728 7 
19% 16 DOdPfA 110 117 

17% . 13% Dun P< 108 123 
lift Mft Dpqjjf . 107 UJ 
20% 15% Duapr 231 1Z2 
Oft 51 Doqpf 730 11J 
21% 21 DynAm 30 3 12 

47 17 16* 

369 14% 14% 
1236 27% 24 
429 7 6' 

123 7ft 


1X0 1 

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4! 7* .7% 

399 43 42% «%— % 

47 23* 23ft 25*— ft 
149 35% 35% 35% — ft 
MM 15% 15% 15% 

90» 77 76ft 76ft— * 

11?* " 

18 27% 27 27 

42 26% 26% 26% 

13 26% 26% 26%— % 


85 27* Z7* 27% 
.9 31ft 31 31ft 

2 115% 114 IM — 1* 
9 19* 19% Wft— % 

240 22* 22% 22ft— ft 

214 18% 18 10 — % 

« W* W% 1W 

255 42 41ft rift— ft 
3464 120*118%! 18* —2% 
203 98* 97% 97*— lft 
240 22 21ft 22 +ft 
» Sft & a -% 

1467 9ft _?* 9ft— ft 
940 32% 32% rat— % 
W5 26% 25% M%— % 
11M 61* 61* 4T%— ft 
52 37% 36* 37ft— ft 
324 38% 31% 38*— ft 
3066 39 38ft 38ft— ft 

124 39ft 
306 IM 
368 Wft 

362 T!& 

27 16 43% 

1471 84% 
■60x 76* 
1 31% 
27 35 

523 16% 


123 28% 

39ft 3PM + ft 
M* 15 + ft 

18ft 18*—* 
W* 30 — ft 
77% 77ft -lft 
62% -63ft— 1 
38% 38* + ft 
47* 48 
33* Mft + ft 

n s 

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36% 36* + ft 
34ft 34*— ft 
78* 78*— 1* 
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23%- ESvit ■ A 17 15 
20 EooftP 1A4 37 10 
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lift E4MN6 A4 X2 12 
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21% EPCdpt 135 93 

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26% Emtert lAflb A7 10 
N% Ean©» IA8 83 9 
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l» Enm 1A4 7 A 10 

39 39 — ft 

17 17% + % 

29ft 29ft— ft 
27ft 28 +* 

17* 17* + % 

.2 2 % + % 
lft 1% + ft 
15 15% +1 

17 IS +1% 
Zl% 21* +1 
25 25 — * 

34ft 24% 

48* 48*— 1 
59* 60 —lft 
13% 13* + % 
30ft 30ft + % 
33 33 + ft 

16% 16% + ft 

TO* 18* 

Wft |M— » 

Wft 10ft 
10 * 10 % 

4% 4%— ft 
21* 22 —ft 
12 * 12 * 

3% 3ft— ft 
75ft 75ft— 1 

13ft lS?— ft 

S*2 +35 

2T% EraSCS .72 XA 13 
11* EnlaBuar-36 17 15 

1H Enwrtfi 1^ 0b .7AM4 

77* EltSExn 1. 

2ft lft Smroa 
13ft 9% Efijong. 

19 " 12% EntaxE 

6%’ 2ft SadSrk 
22% If* Eon* Pf 27111 A 
.50ft SSftEatRH 772 ifl 10 
17 - 7ft Eftd lOC 
13%. -10* firernnr 

194 22% 

9 13 

m 3% 

237 15* 

30ttx 4* 

23* 23*— ft 


1S7 79* T8* W — % 
lift 11 11 —ft 

13ft 13ft U%— % 
19* Wft lift 
36% 36% 36% + % 
4 3ft. 3ft— ft 
19* 19ft Wft + % 
43 42* 42* 

■ M 












1 1 







24 — 









1 31 






44* + 












52*— 1 

■- F 

72-53 PMC 
20ft FPtGp 

74 Mft 



»* iMTofNl.. 

47% S3* Fodico , 



<8* 49H 


lft 5» 


M ifft + ft 
24* 24*— % 
10ft-lM— % 
11 11 _ % 
10% 11% +1 
29% 30 T* 
lift ~11* . 
lift 20 —ft 
IS IS — % 
47 47 + ft 

22 % 22 %—% 
b% . a* 

.3 3 —ft 

47ft 47%. 

34 54% — ft 

34% Sift 
24ft 24ft— ft . 

a. a#-* 

7% + ft 






12 Month 
High Low 


Dhr. YkL PE 


Buar.CH ue 

Sft «ft 

37* 29 
I 2ft 
32% 25* 
2ZH lift 
29* U% 
38% 53% 
43 25% 

38ft 22 
47* 25% 

26* If* 
95% 85* 
17% 10* 
40 35 

44ft 32% 
19* 6% 
29% 13ft 
63 44 

SS* 40ft 
34% 23% 
11* 6ft 
3Hb 1* 
7* 5% 

30* 23ft 
31ft 25% 
28% 18ft 

40 20* 
55% 49% 

41 23% 

U* 8% 

43 96* 

28% 17% 
40% 32 
lift lift 
2946 20 
35% 15% 
30% 22* 
19% 11* 

FlnOPPf 30 II J 2 Sft 5 

FlttCPPf 6JSe16J 141 WBil 

Fas Bar 10 120 0 7* 

FiSnn JO « JS2 5£ 21* 

Flratm A0 19 15 2049 20* 20 

Ft All 5 680 14 10 IBM* 

FtAtipf 6JSeIl.l » W* 

FfBKS? 1A0 40 7 S! « 39% 

FBkFIS 100 16 16 15x 38ft 38% 

F Basil U» 14 10 2432 43* <1% 
FdSlc 1J2 SJ 9 3484XMV 24 
FChl ptC 955*107 50 89% 89% 

FIBTtX 60 48 U 

VS&* 68b 26 8 

E FB 112 53 1 

Intsta 150 49 8 

Flntdpf 237 76 

F1M1S* J4 3J 11 

FtNatnn B 


Fit Pa pf 162 96 
FtUnFO 2J» 76 13 
FIVaBk S3 36 11 

FWKPfl^ 116 1 

Mb A 180 

FltFUG * 164 3A 8 

Fleet En 64 2A 10 

Ftomna 1A0 U 13 

Field pf 161 12A 
FMUSfS .16 6 20 


IS i5 

22* Wft 
20% 13% 
59 47ft 
55* 40% 
13% n% 
30% 28% 
18% 10% 
14% 7* 

Fla Pro 2J8 
FtaStl 62 

11 19 

SJ 4 

172 6* 6ft 
119 24* 26% 
47X 62% 61% 
1083X 31% 50% 
99x31* 30* 
213 7* 7* 

10 31* 31% 

409 6% i% 

70 Z7% 27% 
56 27% 37ft 
186 27ft 24* 
64 40% 39% 
2300z 55% 55 
45 27% 26* 
108 12* 12* 
79 38H 38% 
706 22* 2Ht 
79 38ft 38 
6 12 * 12 * 
242 27 2#% 

227 35% 35 
3791 28% 27ft 
IS 18* 18ft 
185 7% _7% 


208 22 21* 
512 15* 15% 

63 48% 4| 
9051 53* 52* 
69 13% 13% 
747 45% 44% 

27 22 

ZMk 17ft 
13% 9% 

Wft 8ft 
22% 16 
31* 22 
28ft 20% 
32% 26% 
36* 28ft 

Fluor 60 
FodtC 220 
FordM 280 ^ 

FtDaar TJ6 106 
FtHttwa 37 ■ 20 .... 

FeMWIl 64 36 13 1702 17ft 11* 

Fax Phot 68 5A 13 38 13ft 13% 

Faxbro 1A4 46 414 23% 27ft 

Faxmyr 15 94 24% 23ft 

FMEPnl.neAl 122 10% 17ft 

FMGCn 138 169 11% 10ft 

FMOG 1J3B2Q.1 5 339 9* 9% 

FrptflAC 60b 3A 11 1119 28ft 20ft 

Fftatm 60 11 37 215 28* 27* 

Fruehf J0 2A 7 2342 24ft 24% 

Frutif pf ZAO 6A 103 29% 29 

Fuava 60 12 10 92 35% 34ft 

+ * 






xi u 




X16 73 
268 106 

12 % 

12 * 












12 * 

23* GAF 
27* GAT X 
4% GCA 
54 G|UX> 1A8 1J 11 

3* GFCp 
38% GTE 
21* GTEpf 
3 GalHau 
44% Gannett 168 19 19 
20% GopIdC .72 1 J 25 
7% Geartrt JM 23 
14% Grtco 66 XI 11 
9ft GemllC 
10 Gem 1 1 1 6(te S3 
32 GnCarp 160b 26 36 
14* GAInv 163e 86 
M GnBcflh 1A0 16 13 
22* GOnm 60 1 J 12 
22 Gdn of 66 
7% GaData 
9* GnOevn 
2% GnDewwt 
62 GnDvn 1J» 


76 7 

S3 GnnEI 132 36 U 


















4ft GnHnw _ 

11% GHans JO 16 4 
8% GnHeus 24 22 
12ft Gainst JS 16 
41* GnMIHs 2J4b 38 
*4% GMot 5A0r 7.1 6 

36 GMatpt 175 9J 
48ft GMotPf 5A0 9.1 
18% GMtrE .19 A 
41 GMtrH 

4% GNC .16 X« 
10ft GPU 8 

58ft GenRi 166 16 103 
6 GfiReTr 18 

37 GnSW 1J0 61 12 
WH GTFIpl 1J5 9J 
10ft GTHPI 1J0 9 A 

2 ft draco 
8 GnKad M 3 


34% GaPpfB 234 H 
ZB* GoPw pf U» 11J 
25% GaPwpf 276e1QJ 

i ^ O P w pf 364 116 







12 % 







27 GaPwpf 376 12J 
W GaPwpf 266 XU 
Wft GaPwpf 253 ll.i 
57ft GaPwpf 7 JO 113 
54 GaPwpf 7J2 11A 
24 GerbPd 1J2 33 15 

IM* GertSc 
14ft Getty & 
.5% GibrFn 
1«4 GlffHm 



6 14 

62 26625 

SMk GfHetft 268 36 U 
. W 
U 3 




















7% GtartPd _ 


8% GMNua 
1* GMNwt 

BK a ' 4 

liSS 7 

TZStf 3 8" 
^igJSSr.'S «s 
lift is 25 1 

« GNIm usiiu 

BB»|» %'l 

U. XA« 


?% GrewGi JO 

4% Grtmtal JS zj 41 
» Crilfrd M 26 13 

16% GUHRPMJO ti ■ 
Wft GUStUt 164 124 4 

Pj GltSUpr X85 126 
2»S GIBUPT4A0 .1X2 
M GuBan 60 17 


4A 12 



280 41* 46 
172 31% 30* 

Six -SS 4* 


1980 43 «Zft 
57 24% 23ft 
7 3ft 3% 
1420 58* Oft 
434x50ft 57ft 
123 7* 7% 

62 18% 10ft 
270 11* 11% 
151 11* lift 
746 62% 61ft 

39 lBft 18ft 

503 40ft 39ft 
7 39* 39 
SOB 12% 12 
A48 13ft 12ft 

93S is 

7098x64* 64* 
67 6ft CM 
545 21% »ft 

87 10* 10% 
618 16% 14ft 
1253 59* 58ft 
6273 70% 69* 

7 41% 41* 
10 55 54* 

tTS 41% 41% 
214 42% 41ft 

% i^il% 

264x 43* 43% 
2008 13% 13% 
TOQr 13ft 1 3ft 
369 3* 3ft 

I5S 10* 10% 

W TTft 21% 

3x35 33 

12 23 Sft 
2 22ft 22* 

2SQX 68 67 


289 19% IS* 
18 26* 26ft 
144 12 lift 
314 9% 9ft 

96 Wft 18* 
467 TO 68* 

40 Uft U 
2639 15ft 14* 

*3 B 355 

”S ^ « 

835x32* 32 
1171 »k 28% 

88 17ft 17% 

3W »% 

649 48% 40% 

SB iss 

4 &eB 

% %% 

30 21% 2| 
1522 46* 46 . 

I mov., 
tt Mft Mt - 
T Wft 19 * 
4146 13% 3 
23 30* 30% : 
W £* 33% 
142 22* 22* 1 


i-fr ft! 
«— %. 

i ^ • v 




11 * 



20 * 



SfttoSE? HS* 28 27* 

l" ’m M J3 2D4 26* »% 


ft |{» 

JTft Hanjl 1A4 q JJ 

60 9% 9% 

M6 34* 33ft 







13 * 





22 * 




dS. *8S 

u liS m ^ 

24 lOT IMk 10% 
23 25% 25% 

JM '» M* 
0 22ft 22* 
735 26* S% 

n W* 




2 M 

m in «S 

• X3 lb 

i.j $i 

JS t£5SS. J . S m 

wlgSS? * 

® Hrpftws A0 is 15 



TA0 104 12 


g 2 

33b 3a 





ira— n , ^ 

S Ilf--. 

tm. - Vk*r • 

jo ;u 







uw Ml 1J 15 ^ i 

(ConibnuLoo -Plage 12 ) 

KM + U 
24* + % 
14ft— % 
13% — 1 
21* + % 
9 —ft 

30% — * 

lodes; . 

die • P.U . Bentfn** imrb P.V* 
iMEX MMAMP.U FJth* rat. notaT P.15 
'lYM-rtfC* P.TO ’• Gold iBgrKtfl P.11 
. 4 UYSE.bbhaAM*P.» httaWnrin PJ1 
~ ■. i immflao start* PUS Mortal summary- P,10 
'u t ' ■ primer rata P.ll OpHsn ■ -P.M 
.J. 'jKnmoMa- P.u - ore dock . .. p .17 
A ^.vsMdandB P.M OBwr martadi p.ib 



U.S. Stocks 
Report, Page 10 

Page 11 


* 1 ...* 

■: ■ i 

r-J J 




;o rixenanges 

j Heats Up on New Contracts 

. ByliSAYAWatAN 

H1CAGO — The newest mosey game in town has 
pitched Chicago’s leading commodities markets into 
battle in the most elaborately publicized and cosdy 
rivalry between two such institutions in memory. The 
contest, which has featured parties and an airplane trading a 
campaign slogan ova: a football game, is bang fought between 
the Oncago Board of Trade and the Chicago Mercantile Ex- 

Between them, the exchanges have spent a reported S6 million 
to attract investors to their new over-the-counter stock-index 
futures contracts, which were introduced by both Oct. 75. Hie 
contracts are the latest inno- 

Sofar, the Board 
of Trade’s contract 
has attracted more 

' -V 

I 7 . 

1 s- • 

- a-,; 


• f.i 

vationof the exchanges, which 
began life in the last century 
offering fanners and food 
merchants a forum to smooth 
out their accounts by trading 
goods at a fixed price for a 
future date. Farm-goods con- 
tracts are still traded but vol- 

ume in these ccnnmodities has 

waned while exchanges have introduced new contracts ranging 
from oil and bonds to currencies and stocks. 

The contracts offer speculators, who often haveno use for the 
commodity they are trading in, the chance to make fast fortunes 
by correctly spotting future price trends. To outsiders, it may 
sound like gambling and very often is. 

F OR EXAMPLE, with a deposit of as little as $3,500, 
investors can trade one of the new OTC stock-index futures 
contracts, now worth between $75,000 and $90,000 each. 
The deposit allows them to bet on whether the basket of stocks 
included tn that particular index will rise or fall If they choose 
right, they stand to make a substantial sum. If wrong, they may 
well lose everything. 

The Board of Trade is trying to win investors with its NAS- 
DAQ-100 contract which tracks 100 nonfinancial issues on the 
OTC, the last-growing market on which shares are dealt directly 
between brokers’ offices rather than on a traditional stock ex- 
change floor. 

The mercantile exchange’s OTC-250 index, dubbed SPOC, 
comprises 250 domestic industrial stocks quoted on the OTC 
Both have some powerful household names in thdr index. The 
Board of Trade’s index boasts Apple Computer Inc. while Nike, 
the athletic-goods company, is one of the 2S0 shares in the 
Mercantile Exchange’s contract r 

* Analysts say it is too early to tell whether either contract will 
succeed. Sustained and expanding volume is required. However, 
the Board of Hade’s contract has led from the start, with an 
average of 6,200 contracts traded daily, compared with 4,100 for 
the Mercantile Exchange’s contract 
Both exchanges have pushed hard to get traders from other 
commodities pits to spend at least IS minutes a day with their 
colleagues in the stock-index pit This helps provide the essential 
contract volume that allows participants to trade when they want 
to at the lowest cost 

“Traders would like to support the contract but a lot of them 
lost as much as $20,000 the first two days becanse the market for 
it was so thin,” said David Harris, a trader in the sparsely 
populated NASDAQ-100 stock-index-futuxes pit 
- Most of the volume in the two new contracts still comes from 
floor traders and brokerage firms, with only about a fifth of the 
volume coming from public invertors, exchange souxoe& said. . . 

But die contracts have not yet attracted the public and large 
institutional investors, such as pension funds. The interest of 
(Consumed on Page 17, GoL 8) 

. fJOrooi Bates 

D»c 2 

. . S ■ DJA. FJ. ILL. OWT- LF. S. F. YM 

IimMhi 287* 4 m 11241 • 344*5 • 1HB- SSS* !**• 138457 

*rwMta(a) 50J* 7119 2U2 UM 23635 • IMA MJH 254405* 

2363 MSI 2236 • L448S* 88SJ5- Mil* 12653* 1232* 

I CM LOSS 33518 1L4415 254736 42MS TUB 3.HB 36218 

Man 1JV3J6 235190 <8635 22115 48598 3252 83836 8305 

iMYwkK) 04718 • 2S11 74805 171240 24125 SUB 2495 26138 

*am 7435 11418 30509 44318* 23134 15JH- 24754 M** 

rakva 20210 48238 8651 2540 1145* 7147 39540* 9772 

tartcii It*. 

.COI 04831 03613 230*5 432H 136X32 24802 4L0O9 14» 179495 

. SM L09454 8173999 2339*1 535661 N.Q. 34622 5544*4 22728 222192 

riaiina In London tetd Zurich, (brings in other europeon cantos. (to* York mtesote PM. 
a) Commorcfal franc fa) Amounts needed no buy one pound (O Amounts needed to bur one 
lot)ar(’) Urttts oDOQix) Units of WOO ty) Units of 1IUOONM.: not (tooted; HA.: not ovalkMe. 
'■I To Dor one pound: tU M MS 


Xnww p«r UJM CMnraacv per IUJ 

Iron, austral 040 Fin. markka 5<cm 

Austral.* 14793 Gmfcdrac. 15040 

AMr.wM. 1744 Kara Kona 5 7402S 51 JO latanMt 12495 

9,18040 Utarvpta 1,12340 
K 13884 IrUI 04247 SUB.* 

12015 meUtak. 148540 5. Air. 

9JK75 Kowattl dinar 02099 S. Kor. 

COVPtPMMl 1J8S Motov. rtn. 24205 

: StorBaa: L206 Irlati c 

looms; Bsnau# du Benelux (BnasoH); Banco CommenMe Itofkm (MOan); bmm No- 
"lo note or Parts (Ports): Bank at Tokyo (Tokyo); IMF t SDR)) BAN ( dinar, rtyoh dirham)/ 

Tasttonk (ruble), other data from Ruatos and AP. 

r UJ 4 omnr per UJJ 

4*740 lavMraMt 3 JM 2 

7355 Som-pmSa 15540 

1440 SwwLkraoa 74*75 

1 58.10 Tdwiil 3977 

34804 Thai baht H.U 5 

2 . 11*5 TMMM 557 J 0 

2461 UAE OHrtpn 34722 

NU> Vmmz. boHv. 1525 






Dollar D Marti 





. I mount 

3 *W 4 

11 *—11 K 


8 Mh 

- 8 nonttn 

4 Wr 4 * 

it »w-n v. 

9 *- 10 V> 


SHrlW. 4 W- 4 W, 




•VHU l 

• i»oo* ks 

11 H — 11 lh 

lOVb- 10 * 


• 1 year 

4 «r 4 tk 

77 Ifc-JI W 


’(SDR). K 

Maroon Guaranty t dollar , , DM. SF. Pound. FF); Davos Bank tECUH Reuters 
ate* twctlarbte to I nl erhar* daptm l to at It million mtobmtm fareautvatenti. 

.Key Men ey 

Dec. 2 

■ DlKomf RaM 
. FodMItata 



I V 

Ws TVs 

ru -9 tPk-9 
Cam Paper fO-Ufdavs 735 735 

-SiaaMTraannr SSli 7.19 7,13 

l BSh 74 74 

COtH 49 dknrs 
. CM 4»8f dm 



7 JD 


Smeafli IMcrttu 

. Uenamiea Ran 
CM Maw 

538 SlSJ 
HA. £48 

- 05 

- 445 

- 430 

m n 

H Hk 

111 no n 

n »im 

Book Saw RA6 lift lift 

teflltaow NA ITU 

THoTTreworrUB — 111/32 

tart iurbem — 11 1/15 

Mtaw IBta 




7 tt 


7 U 
81 k 

Room, Co nune no ank. o*W 
t-vomotj. BOA of Tokyo. 

Asfaw lollir Begooto 

Dec. 2 

1 rnonta BM-81A 

2aMaHn l*-ls 

Immitfu Sh-Sa, 

Ii umHu 8 K.-6 Mi 

lyiar 8*,-8H> 

Sourca: Reman. 


Dec. 2 

38 dor BYerBBB yield: 740 

TdarahWfettKMlta: 7453 
Source: Merritt Lynch, Tatemta. 

Dec. 2 

ajul pjul atm 

ZOM 32440 —220 

33145 - —225 

ports (123 Mo) 334JS 32SJI —142 

ZuiiCk 32448 3ZU6 —420 

UndM mis 9130 -340 

Hew York - 32U0 -040 

Luxnmtoujv. Paris and London offldai fix- 
btpar none Kano ana Zurich aamlno and 
closing prices; Moor York Camax currant 
contract. Mt prices tn US. spot ounce. 
Source: Reuters. 

To Oor Readers 

> Some giarifH^ni and the EurcHnaikets odumu is missing in this 
idition because erf tdecomnumications problans. We n^rrt the inoonve- 
, hence to readers. Also, there are no stock listings from Smgapore because 
-/ the suspenaon of trading there. (Story on Page 1.) 


On Bid 


By Warren Gctlcr 

International Herald Tribune 

FRANKFURT — As expected. 
Boring Co. edged out the Wert 
German indust rialist, Justus Dor-, 
nier, and a Canadian investment 
group in bidding to acquire state- 
owned de Havmand Aircraft of 

fjwiarin t the fimuriim grnffre. 
ment announced Monday. 

Vera Holiad, aspokeswoman for 
the industry minister , fBneTwr Ste- 
vens, said that Seattle-based 
Boeing and Mr. Stevens have 
signed a detailed letter of intent 
that would have Boeing acquire 
loss-reporting de HaviQand for 155 
nnBian Canadian dollars ($112.3 
miHion). The package would be 
comprised of a 90-minion-doBar 
cash down payment and 65 million 
dollara in deferred payments. 

Boemg is the wood's largest pro- 
ducer of commercial aircraft. 

The book value of de HavOland, 
which has bad accumulated net 
losses of 484 million dollars over 
the past decade, was said by Cana- 
dian offiraflk last month to be 130 

mfRirtn iWlar s 

Boeing and the nmariian gov- 
ernment have 90 days to condnde 
an acquisition agreement. Ottawa 
officials said they expect to can- 
dnde the sale before the end of the 

“The letter of intent that we 
worked out with Boeing was so 
detailed that the final step of can- 
rimtinji »n acquisition agreement 
will be easy, a mere foanatity,” a 
high-placed government official 

A Boeing Co. spokesman, Rich- 
ard Schkh, said: “We see this as a 
viable business venture for Boring. 
De Havilland makes excellent 
products, their commuter aircraft 
are of a size and type we do not 
already build and would tnaVe a 
nice c omplement to our product 
line — the marketing efforts of de 
Ha villan d and Boeing should bene- 
fit,” from the linkup. 

The letter of intent allows Boeing 
to pay its deferred payment in cam 
over a period of li yean or, alter- 
natively, to deduct 1 xmDian dollars 
of the 65 million dollars deferred 
sum for icvcry 5 nnOion doll am 
•Boeing agrees to invest in Canada 
to develop de HavQlaruTs business. 

Officials in Ottawa's Ministry of 
Regional Industrial Expansion, the 
minis try responsible for t wnrning 
several major enterprises to the pri- 
vate sector, said they expected 
Boeing to opt for the latter form of 
payment, leading to a 325-nriHkm- 
doUar injection of capital The let- 
ter of intent pledges Boeing to 

(Continued on Page 15, CoL 1) 

Bill to Mint 
Gold Coins 
Passed in U.S. 

CompSed by Oia Staff From Dispatches 

WASHINGTON — Congress 
passed on Monday a bill that au- 
thorizes the minting and sale of 
UB. gold coins for the first time in 
more than half a cen tur y. 

Final action in the House of 
Representatives came cm a voice 
vote. The Senate passed the tegisbfc- 
tion on Nov. 14 and no opposition 
is expected from President Ronald 
Reagan’s administration, the bill's 
last stage. 

There wSl be four gold bullion 
coins — for $50, S25, $10 and S5. 
Their prices will fluctuate with (he 
grid market and will not be tied to' 
the nominal d rilw designation on 
the crirn The biggest orin will con- 
tain one ounce (28 grams) of grid 

“No longer will Americans want- 
ing to buy gold coins have to buy 
foreign cons,” said Representative 
Frank Anmmzio, Democrat of Ki- 
no is »md chairman of the banking, 
firnwr^ imd urban affairs’ sob- 
committee on im m mtf affair s otwi 


The new coins wiD not be srid to 
the public ratfl Oct 1, 1986, so as 
not to interfere with the sale' of a 
Statue of Liberty cdn. 

The mintin g of the four coins 
wQl mark the first tune in 53 years 
that the United States has pro- 
duced hs own gemaatrircnlation 
gold corns. 

The U.S. grid coins would be 
legal tender for their face value but 
would be sold by the Treasmy De- 
partment at the market value, phis 
minting , marketing and distribu- 
tion costs. 

Dealers expect the coins to be 
sought mainly by crilecuas and 
investors. Profits from the sales 
wonld be used to reduce the nation- 
al debt. 

Representative Jeny Lewis, Re- 
publican of California, a chief 
sponsor of the bill, said that in 1984 
alone, the United States had a grid 
coin trade deficit of more than $1 

He said $400 million of that deft-, 
□t went directiy to the South Afri- 
can government for the trading of 
the Krugerrand. 

(AP, UPI) 

The FfdUppines 9 Top-Heavy Economy 

Around Marcos 
Is Political Issue 

By Nick B. Williams 

Lae Angela Tima Service 

MANILA — President Ferdi- 
nand EL Marcos went to Cebu 
recently to outline Ms plan for 
economic recovery in the Pftilip- 
-= and to give a pep talk to 

Urging them to look for new 
investment opportunities, he 
spun a little story. The subject 
was kaolin, a da^tike substance 
used in ceramics and other prod- 
ucts. The presideat said he had 
been surprised to learn that the 
Philippines has a lot of the staff. 
He then confided how it came to 
his attention. 

“Several foreign entrepreneurs 
ram*-, to me asked for exclu- 
sive tights to kaolin deposits, ” be 

The economy of the Hrihp- 

r s is beset by problems and 
stray told by Mr. Marcos in 
Cebu, central Philippines, re- 
vealed one of the banc ones: the 
concentration of power and in- 
fluence at the top of government. 

The fact that foreign investors 
fed they have to go to Malacan- 
ang Palace to ask the president of 
the republic for exclusive muring 
rights flhutraies “exactly what’s 
wrong with the Philippines,” a 
Southeas t Asian diplomat 
If presidential elections are 
held eady next year, as Mr. Mar- 
cos says he wants, the economy 
will be a top issue. The role of 
Mr. Marcos and some a£his po- 
litical allies in " 
tore and industry will 
tain opposition target 
“The badness c ommun ity has 
been demanding r e f or m ^ but 
Marcos has not moved,” said 
Jose Concepcion Jr, who runs a 
food products company and is 
active in the opposition. 

The president has his defend- 
ers. Juan Ponce Entile, the de- 
fense minister, ads, “Is it the 
fault of Marcos that the world 
price of sugar has gone down? Is 
It hia fault that the sugar planta- 
tion owners have had to lay off 

But after 20 years as president. 

Tha Nn» Yert Tam/UFI 

An issue in the PHlipjptnes is President Ferdinand E. 
Marcos’s policy on agneufrnre, one of whose mainstays 
is sugar-cane growing in Negros Occidental province. 

Mr. Maroos will find it difficu lt 
to deflect the issue of the econo- 
my. These are hard times. Unem- 
ployment is estimated at 15 
cent, underemployment as J 
as 45 percent 

Manila has been particularly 
hard Ml Some garment workers 
here reportedly make only 8 pe- 
sos a day, less than 50 cents. 

Foreign investors are wary. 
Political and Economic Risk 
Consultancy, a Hong Kong- 
based consulting firm for multi- 
national corporations in South- 
east Asia, said in a report earlier 
this “The Philippines 

stands alone as the most risky 
non-Communist country in the 
region for doing business.” 

The report died both econom- 
ic factors and potential political 
instability, specifically tee threat 
of the Communist-led insurgen- 
cy in the Philippines. 

Paul D. Wolfowitz. U.S. assis- 
tant secretary of stale for Pacific 
and East Asian affairs, told a 
House subcommittee recently 
that some economic models 
showed that the Philippines’ 
slide had bottomed out and that 
the economy was beginning a re- 

“However, domestic and for- 
eign inv e stm ent is still flat,” he 

Mr. Marcos told the business- 
men in Cebu that the govern- 
ment’s economic policy would 
concentrate on agpcultnral ex- 
ports, particularly products 
That others can’t produce, or 
where we have a competitive ad- 

He also anno unced approval 
by International Monetary Fund 
negotiators for the government’s 
economic and fiscal policies, 
(Continued an Page 17, CoL 5) 

Argyll Offers 

$2.8 Billion to 
Buy Distillers 

By Bob Hagcrty 

International Herald Tribune 

LONDON — Argyll Group 
PLC, a food retailer, announced 
Monday a £1 .86-billion (S177-bil- 
lion) takeover bid for Distillers Co., 
the biggest producer of Scotch 

Distfllexs, whose brands include 
Johnnie Walker and Dewar’s 
Scotch as well as Gordon's gin, 
rejected as “completely inade- 
quate” the long-expected bid. 
which is ibe largest ever in Britain. 

Because of the importance of 
whiskey to the depressed economy 
of Scotland, analysts said, the offer 
was likely to be referred to the 
Monopolies and Mergers Commis- 
sion. The commission would have 
about six mouths in which to advise 
the government on whether the 
combination would be against the 
public interest 

Argyll’s bid is the latest in a 
series of recent takeover offers for 
British and U.S. companies with 
internationally known brand 

Last summer, for example, 
Guinness PLC wrested control of 
Arthur BeD & Sons PLC, another 
Mg Scotch producer. Elders IXL 
Ltd. of Australia currently is seek- 
ing to acquire Allied-Lyons PLC a 
brewing and food giant with a hos- 
tile bid of £1.8 bQlion, which is 
expected to be increased. 

In each case, the bidders have 
ctaipierf superior marketing exper- 
tise and promised to squeeze out 
higher returns from the brands. In 
addition, according to a financial 
adviser to Argyll, bidders regard 
buying well-known brands as “a 
safe way of baying reliable prof- 

For every 10 ordinary shares in 
Distillers, Argyll offered eight new 
Argyll ordinary shares, 10 Argyll 
convertible preference shares and 
£14.50 in cash. Argyll valued that 
package at 513 pence per Distillers 
share. As an alternative, Argyll of- 
fered 485 pence in cash for each 
Distillers share. 

By Bob Hagcrty 

International Herald Tribune 
LONDON — Imperial Group 
PLC and United Biscaiis PLC an- 
nounced on Monday an agreement 
to merge, saying greats’ size would 
help them compete with giant food 
companies abroad. 

Imperial, a c ig are tt e, beer and 
food company, offered five new or- 
dinary shares in Imperial for every 

four shares in United, a maker of 
crackers, cookies and other foods. 
Based on Imperial’s dosing share 
price of 241 pence, the offer values 
United at £13 bflHon ($13 bfllionX 
or 301 pence a share 
On the London Stock Exchange, 
United shares sKpped 4 pence to 
274 pence, and analysts rated fears 
that the agreement will fall 
through. Rumors persist that a hos- 

Productivity Up in U.S.; 
Budding Outlays Higher 

tile bidder^ wiD emerge for Imperial, 
which some analysts see as an at- 
tractive candidate for a breakup. 

In addition, analysts said, the 
bid could weU be referred to the 
Monopolies and Mergers Commis- 
sion, which would advise the gov- 
ernment on whether the merger 
would be against the public inter- 
est Analysts said any study by the 
commission would focus on the 
British market for savory snacks, 
such as potato chips and nuts, in 
which the two companies have a 
combined market share of nearly 
50 percent 

The Associated Press 

WASHINGTON — The pro- 
ductivity of American business in- 
creased at an annual rate of 2.1 
percent in the third quarter, the 
best performance of the year, the 
government reported Monday. 

In a separate report, the govern- 
ment said U.S. construction spend- 
ing rose 03 percent in October, the 
best showing in four months. 

In its productivity report, the 
UJ5. Labor Department said that 
business output nxe at an annual 
rate of 33 percent in the third quar- 
ter while the number of hours 
worked rose IB percent, according 
to figures revised from prethninaiy 
data a month ago. The figures ex- 
clude farm activity. 

Productivity had declined 3.1 
percent in the first quarter and ris- 
en L2 parent from April to June. 

In the manufacturing sector, 
productivity increased at a 3.7-per- 
cent arm™! rate from July to Sep- 
tember, the Labor Department 
said. Output increased 33 percent 
while hours worked fell 03 percent 

The increase in output was the 
strongest in a year. The dedme in 

employment and an increase in the 
of the manufacturing work- 

Analysts attributed the poor 
showing in the first half of the year 
to sluggish economic growth, and 
they said the latest figures boded 
wefl for holding down inflation. 

"Manufacturing continues to cut 
back and grow leaner and that’s 
very positive for inflation and for 

crease in four months as growth in 
residential building offset a big de- 
cline in construction of shopping 
centers and other commercial 

The October gain left construc- 
tion spending at a seasonally ad- 
justed annual rale of $347.8 buEon, 
93 percent above the levd of a year 

Residential construction rose 2 
it, to an annual rate of $151.4 
with construction of single- 
family homes rising by 2 percent. 
Apartment construction jumped 4 

Nonresidential construction 
edged down 1 percent last month, 
to $88.7 bflHon, with the biggest 
downturn a 5-percent drop in 
building of shopping centers and 
other commercial units. Construc- 
tion of office buildings was un- 
changed at a rale of $313 billion 
while construction of factories 
climbed 2 percent, to $16 billion. 

Government building projects 
rose a slight 1 percent, to an annual 
rate of $64 bfllion. 

Spending on mflitaiy facilities 
ported the biggest increase in the 
public category, rising by 13 per- 
cent over the September rate. Gov- 
ernment housing prqjects posted 
an 8-percent gain winks spending 
for schools and water-supply facili- 
ties rose by smaller percentages. 

During the first 10 months of 
1985, $285.7 bOHon in new con- 
struction has been put in place, 9 
percent above spending for the 
same period in 1984. 

whose stock market 
value is about £13 bflHon, makes 
such cigarette brands as John Flay- 
er and Embassy. Along with 
macks, it also makes frozen sea- 
foods, HP Sauce and Lea & Perrins 
Worcestershire sauce. The compa- 
ny’s brewing division, whose best- 
known brand is Courage, owns and 

supplies about 5,000 public houses. 

United is the world's second 
largest maker of cookies and crack- 
ers after Nabisco Brands Inc, itself 
recently acquired by RJ. Reynolds 
Industries Inc. United’s Keebler 
Co. unit is the No. 2 biscuit maker 
in the United States, and United is 
budding up a U-S. snack-foods 
business. In Britain, United also 
operates Wimpy hamburger stands 
and Pizzaland restaurants. 

Many analysts called the pro- 
posed merger a defensive move by 
two companies considered vulnera- 
ble to hostile bids. The companies 
had annfonw/t a week, earlier that 
they woe discussing the move. 

Announcing the agreement, the 
two stressed the advantages erf size. 
“Food manufacturing is becoming 
increasingly dominated by interna- 
tional com pani es, marketing their 

(Costumed on Page 15, CoL 3) 

Distillers shares closed on the 
London Stock Exchange at 508 
peace, down 2 pence from Friday. 

Analysis expect that Argyll will 
have to’ sweeten the bid. Some re- 
cently have said Distillers was 
worth around 600 pence a share, 
but John Dunstnorc of Wood, 
Mackenzie & Co., a big Edinburgh- 
based stockbroker, said Argyll 
would have a strong chance of win- 
ning if it raised its bid to about 550 

Argyll is only slightly more than 
a third as large as Distillers in terms 
of stock market valne. Argyll re- 
ported pretax profit of £53.1 mil- 
lion in the year ended last March, 
compared with £236.2 million for 

Justifying its bid, Argyll said the 
Distillers share of the world Scotch 
market by volume had fallen to 35 
percent last year from 46 percent in 
1977. Distillers responded that, in 
value terms, it had held its share of 
the market at around 50 percent by 
concentrating on premium brands. 

Argyll’s chairman, Janies Gulli- 
ver. said the “loosely coordinated 
federal structure” of management 
at Distillers had led to units com- 
peting unnecessarily with one an- 
other. He also condemned the “in- 
bred management” of the company 
for having failed to score big in 
growing markets for vodka, wine 
and malt whiskey. 

Distillers, whose earnings were 
stagnant in the five years ended last 
March, replied that Mr. Gulliver 
did not understand the selling of 
high-prestige products internation- 
ally. “He deals in potatoes, he deals 
in cans of beans, and those are 
commodities,” W illiam F. Speng- 
ler, deputy chairman of Distill ere, 
said at a press briefing. 

Distillers has sought to improve 
its management by recruiting out- 
riders such as Mr. Spender, a U3. 
citizen and former vice chairman of 
Owens-Illinois Inc., and the com- 
pany recently ended a much-derid- 
ed system of management by com- 

But Mr. Gulliver dismissed these 
changes. “The record is appalling," 
be said in an interview, "and 
change in the past few weeks is 
more in the nature of a death-bed 

To please Scottish politicians 
and investors, both companies 
played up their Scottish connec- 
tions and sent their chairmen to 
Edinburgh to hold press briefings 
Monday. Mr. Gulliver, a Scot, 
promised to move the bead quarters 
of both Argyll and Distillers to Ed- 
inburgh from London. 

Argyll also announced Monday 
that its pretax profit in the six 
months ended Sept. 30 jumped 26 
percent to £29.8 million from £23.6 
million a year before. Sales in- 
creased 14 percent to £876.1 mil- 
lion from £769.6 million. 

Since forming the company six 
years ago, Mr. Gulliver has used 
rapid-fire acquisitions to build il 
into a major food retailer. Argyll 
also has interests in making cook- 
ies, confectionery items and tea 
blends, and it derives about one- 
fifth of its operating profit from a 
drinks division. 

the outlook for corporate profits,’ 
said Allen Sinai, chief economist at 
Sbeanson Lehman Brothers Inc 

The improvement in productivi- 
ty since the trough erf the 1981-82 
recession has bon disappointing. 
In the 1950s and 1960s, productivi- 
ty at this stage of economic recov- 
eries generally ran at bettor than 4 
percent. Productivity last year rose 
2.7 percent 

Recent signs of more rapid eco- 
nomic expansion — a 33-percent 
increase in third-quarter growth — 
suggest that productivity will move 
up closer to the rates of past eco- 
nomic recoveries, analysts said. 

• Meanwhile, die Commerce De- 
partment said that construction 
spending showed its biggest in- 







.Enquiries to: 
2 Roe de la Par*. 
Telex: 25869. 

TeLs 021/20 1741. 


Monday ^ 



Tables Include the nationwide prices 
up to the closing an Well Street 
and do not reflect kite trades elsewhere. 

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2121 19H n 


F or investment professionals 
in the United Kingdom, 
1986-the year that is sup- 
posed to end with a bang- 
will also start with one. After well 
over six months of extensive 
planning and research, the edi- 
tors of Institutional Investor will 
present in January the most 
comprehensive report on British 
securities analysts ever pre- 
pared: The Institutional investor 
All-British Research Team. 

Following in the tradition of life in- 
ternationally known All-America 
Research Team, the British 
Team mil be based on a survey 
of leading money managers that 
will rank analysts in nearly 40 in- 
dustry groups and other invest- 

ment categories. The result will 
not be a mere listing, but an in- 
depth analysis of the state of the 
research art that no Investment 
professional in the U.K. or in any 
of the world's financial centers 
can afford to miss. 

For corporations, brokerage 
houses and firms facing the 
fierce competition sure to result 
from next October Ist’s Big 
Bang, the All-British Research 
Team issue affords a critical, 
strategic opportunity: the 
chance to command the atten- 
tion of the world’s business and 
financial elite-the more than 
95,000 subscribers to Institu- 
tional Investor worldwide. (In- 
cluding the nearly 10,000 in toe 

U.K.-over two and a half times 
as many as delivered by Euro- 

For further information contact 
Christine Cavolina, European 
Advertising Manager in London 
at (01) 379-7511. Or, contact 
Denise C. Coleman, V.R& Direc- 
tor of Advertising-Inf! Edition, in 
New York at (212) 303-3388. 

Issue closing date: December 

173 93ft 93 93 

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NYSE HBghs-Ltnvs 

Hanson Is Extending 
Offer for SCM Shares 

United Pros Iiaemational 

NEW YORK — Hanson Trust PLC said 
^ cwe^ing the expiration date 
of «s S75-a-share cadi tender offer for the 
shares outstanding of SCM Corn, to 
midnight on Dec. 23. ^ 


' ' ■. •* 


By Kart. Grim 

of aUskadesandaU rational 
itteshaue, for some time, come 
around to the conclusion that profits. 
r "- iwfon^6e<feriuerf/Srom interest 
';1 i manjw-otont TftecaWtawndafaemeome. 

*. i £ Afen^O^ &onAzn^ appears to Aoid Me magic 
\ ■ '•£ j key far future success. Competition is.heating 
*!£ity»fr/wW which used to be cultivated by a 
,r 4?5 srruiU number (^hi^catiberfmanr 

dal aSmers.ln a German, context such a 
' I |T? pC development also implies important changes 
: for a specto of bankers udtich, over the years, 

i < ; ’■ ? r . has become rarer and rarer - the Trioatban- 
.. . L '\]j£ kier*I>us8eld&i4xwedT)inkau9&Burk- 
; ; hardt’s reply to the new challenge may not be 
■ S' j«-‘ typical It indicates, nevertheless, a strategy 
• •• for more than just sunrioaL 
■ ■ H 1 if- *> * .... 

ft k from thw bane tfwfclHhkaiM & Buririftmit 
aims at mtiHiwing ite pemrim withont np gtorfc . 
Inward taking depos^Senriceg are continu- 
ously tailored to the needs of precisely defined 

legal afrnctnrfe and ite relationship with its main 
shareholder and followed through in stringently 


s *Wfe cannot; rfcourM,satiflfytheever 

An Established. Strategy 

'■! ^ On the surface, THnkaus & Burkhardfs ap- 
i preach to the c h allen ge s of the 80s and 90s 
i \ r k. appear* to he ( ent e rin g around or ganimti i onaV 
*-■ pirf structural rhonaae « rail <m ammrl 

Butforthoee Rft g gCTto tfthe market in^port a ttfc 
to our target di^groupii > 'we'waiitto be first; at 
least in quatityterma.' 0 

This may sound retire academic at first But 
^Aen seen mplied to the daily peacfcafta— of 
running the Bank, ft makes sense. The concept 
fence has fervently been pursued during recent 
toe stated goals oftoe managing partaere fowl], 
m fnture,be seen wrkjngmamjy in these sec- 
tors of the Bank's activities: 

• Global asset management for wealthy pri- 
VH to 

• For corporate clients, comprehensive sol- 
utions fta trade-related financing problems, 

six partners, each fafry liable and jcintiy 
managing the Bank in the tradition of a Conti- 
nentaftype Privatoank, are personally respon- 
sible for toe creation and maintenance of ser- 
vices which, by their very nature, cannot be 
measured in terms of mass products. Compre- 
faensve resp oruahitity and individual banker- 
dientrefetkxTflhipe do not^cf course, exriude^ 

ous partners in respect of the day tadsy running 
of the Bank. 

Hebert H. Jacobi looks after the private dien- 
tete; he ateo is toe spokesman of toe partnazs 
and thus cf toe Rank Ernst W Bratsche’a 
r»np rma>MKty Tw» thf* trading ritygrrip**?!* 
Dr. Christoph Niemann, toe newest partner 
wfll develop toe roerdhant hwwVrmg activities. 
Both Dr. S^hardtRo ujtfla dhantrWbl%apgvop 
TOkfthauaen are servicing the Bank’s corporate 
cheats with Dr. Rametam also looking after toe 
trade-related business. Gerhard Winkel is in 

as weD as around 

p- r- recently, the trans- 

>; 2 a,- formation of toe Bank’s legal structure, from a 

• Services for fasti 


dome stic and i n t ’ *r T| *friV |ff mi i twwyd on an ef- 

mvestos, both The Midland Connection 

ThecoDcapto fdonniaDOB o fandhea vyrdianoe 
on personal leadership and expertise cones 
natural to a German ZUvatoankien Itis, indeed, 
tois facet of private banking that can make the 
advice ofa Privatbankier so valuable in the i 

Head office of Trinkans&Burkhardt in Dusseldorf. 

r&tn. C «■ 

" ' J * 

'AyThe managing partners of Ttinkaus & Burkhardt From left to right: Wolfgang von 
v - Waldthausen, Ernst W. Brutache, Herbert BL Jacobi, Gerhard Winkel, Dr. Siegfaardt 
: ■ ^Rometach. Dr. Christoph Niemann, the newest partner; joins the Bank nest yean 

• ' V; private company in toe form of a limited part- 

' • ~pgrrfHp (Kmn MM iM4rtyiflpHnrhnft ) mh^flnpntify 
• - qhv4i rrTmhrrwm fh*. nfp OTary>al Kahil . 

: itywito tooee cfapublfccoD 3p a^( Kcroniaadft - 
. ; geedkdiaftaafAkt 2 en,KGaA)hasbeenmtoe 
- imriigfaL 

■k .‘i Moreover; the Bank placed 30 percent cf an in- 

-creased equity capital of DM 90 "nTKm (of a 

- — total authorized capital of DM UOxxnDkn) with 
.' the pdbfic; and these riiaies are listed an toe 
■ ; v ^ botsses of Dusseldorf F^ankfiat, Mumch and 
_ < Stuttgart 

- 1 Important as all these devriopments znaybem 
; then- own right, their real m gnilVwnpo can only . 

* ' be weired in toe context of a kaag established 
. : . strategy. Herbert H. Jacobi, me cf tie the air 

. .. 7 ;■ peraottaBly h^ile partners of toe Bank and their 

• - spokesman, put it Eke this when the changeover 

!Jo a KGaA was-first announced in. May cf this 
■’ ^ean ■There will be no change in toe nnfimitBd 
-• iuvuh iement of toe personally liable partners, 

fin'ent BBWirilia n Irwding ifepaitawnt pnd im 

up to date analytical approach; 

• As part of its merchant banking activftie8 ad? 

advice, mrfiidrng tfie jasufag harness 

The Human Face of Banking 

phQbeopby & into toe rtrategy of a inq o rity 
toazdwUer which, by its own background, 
soan^imes may need to follow acmewbatdifie^ 
pulfwnQ of management? 

TV leta&nshp be tween Midland Bank of 
London and Ttinkaus & Bnrkhardt is indeed 
i OTfW»fr* M»TI PhgnMirfl»iniI«M*p iiredthei»Wy)ti 

!^ii fllwilnaw A ftTik)i^ .fiwyMraamTj»v 

don made it dear from toe be^nning mat this 
participation could remain a viable one aotyif 
the German Bank's identity were fully pre- 
served. Midland was to Kmit fty jfri tv 

RanV ttt Tfl pwiwint; * limit Twwp fiirmalty wwplft. 

mented again with toe jdaringofSOpocent of 
toe eq uity wi t h toe piiatic. This indndes a final 

pafm gwft tfiwHiA rf«w wTKl M p p riynH i wn 
a frr rT^ TnHni«ni»pffrtiry»tv»i 

The spedal affiance between a mqcg banking 
group (^tokhilaelf ranks among toe top twenty 
nffliewnritfa rnwimaiT Ml h an^nnH tfajarela- 

tivety «™H German Itivatoank was defined 
in Midlands latest annual report as follows: 
*”Dmkaus & Bnrkhardt is, of course, an aH- 

Boridundt partners, Ernst W. Brutsche, when 
he was elected a member cf toe board of 

Banka that, mn nn toe exp er tise of individuals 
Botn etim ea Mr lib> refinirfiV loth, if not the 
18th r an tm y Wito the necessity tD nmnagp an 
cwwuwi rilmg nwntw rfmnney tnmiifem, tpdu 
nology eeans to have takoi over firm the en- 
trepreneur utilizing the capabilities cf 

toe computer to the fall may appear to be more 
important in that than relying on the 

know-howefthe banka 1 , hi theory, snybsnkBuf- 
Saentty faagto pnft from the economies of scale 
should be in ■ pwtim tn mmp ata anmawa fiilty 
in thia field. Fbr a Rivatbank Hh» Ttinkaus & 
Bnrkhardt; "wfaw technology and posonal 
involvement do not exclude each other. 

As a rule, eedi team workingfor adientoonsists 
of a number of product speaaKsts, induding an 
investment spedalist, a securities specialist, a 
foreign trade specialist and a forex specialist 
Each of these team members is free to provide 
his spedal services to dients directly. Ooardi- 

ngfa'nw rfrKant.wintartiikir BalAted tothgahsn- 

hite minimum. Ffacmal bureancratic procedures 
are thus avoided, much to the relief of most 
diexits who eqrect direct expert advice an and 
solutions to specific proWems. The overriding 
principle for toe structuring of the Bank's sales 
efforts is, in the words of Jacobi, dictated by the 
needs cf the^ various d»ntgrOTg)8. “The adviaosy 
teams have to adjust their efforts to, eay, 
jnedium-fflzed companies or to jn ipni «iinn«t 
tradmgotganfaati(gi& The internal organisation 
is constantly adjusted to tbe Bank’s strategy’ 
According to Dc. Rometsdi, “this^proadi sets 

balance to bolster capital reserves and to secure 
an fltfr ur** 1 "* dri nde nd far top sharebn ldwR. 

A hi^i proportion trfthe Bank's 637 staff, namely 
<a» in three, tot year took part in further educa- 
tional and training programs — with the empha- 
sis embanking and financial services training as 
well as language courses. Pay policy follows a 
pattern which is not so much dictated by a strict 
overall tariff structure but by flexible adjust- 
ment both to staff members' contributions to 
profits and to the nature of particular separate 
market segments. 

In the Forefront of New 
Technological Applications 

Multi-tier Client Contact free encnn uus gea ti vefiace9ainoBigt hR Bank' s 

One of the nwA distinctive characteristics of 
Ttinkaus & Bnrkhardt is itoat cob could call 
the human factor. Indeed, the importance of the 
human input a reflected in practically every 

iMywt tn tiw RmVn a XMtBIlCe, ulurting farm ffo 

mour _ _ 

o^M idlandhMixitinaiB ted toatmy ofiteoim 
pet^de be represented atTtinkaus&Burhhardt 
as a partner, ftistead, toe most important top 
lerallmk b e tw ee n Lcp f fo n and Dfltwek kxf was 

prrwWVH fn fivi p arom nf rww rrf thg TVmkgna & 

The disciplined application of any mwrkntrng 

mnup ti^gpiiw irvw than toe tunln nf faytnvw . 

logy. These toolH must be allied byawellcrgan- 
jzed and h^ity motivated staff In that context 
Ttinkaus & Burkhardt boasts ofhaving moved a 
step ahead ofvdiat is provided by most banks. 
The traditional dant contact via one Bank 
rqxesentative has been Traced by amulti-tier 
relationship between various speemfist rq>- 
resentatives an the Bank’s side arid, if the client 
agrees, on flw> dientfs as weft 

' ophy." This philosophy has been re-defined in 
. .recent years wito tire foil consort of the Bahkfs 
. . -main shareholder. Midl an d Ttinkaus A Burk- 
hardtseea itself as a “flex2de Rivathank with 

‘ mpM f ip fipnn . innking rapuhiKtiwi* 

^ ' I- -Already Ttinkaus & Bnrkhardt imdmputecfly 
. - [ ranks arotmg the efite of Germany’s Privatban- 
' ken. As a rrault of this particular banking aeo- 
. tor’straditianftraetTecy.publisbedaccountsig) 

' 4b now tended to hide more of its strength toon 
-,'toey revealed. FVom now an the advent of new 

- - fifanda nharphfiHm i wnd resulting publicity 
requirements will help confirm toe Bank’s 

- ttf-wTvfrig The Group’s balance sheet total of 
, . - DM 65 milHiw at nrid-1385 and own capital of 

. ’ 1^1 219 mfllkai, impressive as they nay seem 
- axnpered with the rest of Germany’s 68 Privat- 
temken, do not even tdl half of the stray. 

A private banker^ vision of his B ank 
and his events’ future 

, uBsridorfbasedprivatebank'ltinkausA 

D Bnrkhardt is u Mg rta lia i fiii B pnBl i m 

in tenriB of quality cf service matt ita tar- 

The Accent on Quality 

er fo the rix peasonally BaNe partners, the most 

A,THjw ‘afK7nrrh^>tf,ft RHn]fn»i TnpirgTTrgt}TW 

god is a highly qualified and motirated staff hi 
an interview ontoe eve of toe 200fhannrveEBary 
ofthe Bank and the GrttpubficofiemKofpartcK 
toe capital to outside shareholders, he spedfi- 
calty maned the following as potrartial growth 
it rMwt witluo tfw nflirf- five years: mtemaboual 
budneflS, flwwiffll Wnpyrf mrrt himlfmg BnH jwt. 

Ttinkaus & Burkhardfs strength is that of e 
typical merchant bank, namely one baaed 
mainly on fee-eaming business -and that can at 
■ best be reflected in its profit and loss acoorats 
■’ vtokhhavebeeopubBehedforthefiESttimethis 
year in oomtection with the Edmg of toe Bankfc 
.. Shares. The importance of tine sector is under- 
: fined bytfae faettoatthe netfee^hetmterestiate 
ratio soared from 054 in 1983 to058 in 1 984 and 
! even 0.70 in the first six months of the can not 
;. finanddyear. While it is all but certain that the 
Cttrenfcyear' a fee income inareases can be rnain- 
tamed, it is nevratheleaB notewort hy that last 
.. feafs ratio was more than a third higher than 
„ toe 058 average far all private banks and double 

QUESTION: Over the next five years, which 
rmgar changes do you expect within the gobd 
and rwfifgini environment fisr financial and, in 
partkolai; banking services? 

JACOBI: The wadd's most important money 
and capital markets wfll grow ever doser 
together; farming eventually a truly inter- 
national n uif to , The possibilities offered by 
electronic infrwiHifrn technology wiD serve to 
acoderate tins integration process md wiD 

mnlio dealing p mnaHt* an ig 

already the case with foreign exchange. As a 
result, the interdependence cf the markets will 
increase considerably. Hn a nrid innovations 
will spread i n ternati onall y mndi mm> tprirldy 
than is the case today. Ttiis will make it necefa 

H. Jacobi, 
spokesman for 
the personally 
liable partners 
of TVinkana 
& Bnrkhardt. 

QUESTION: What is that definition? 

JACOBL- Privatbanken are those institutions in 
which prasonally liable (or general) partners 
bear the responsifctBty tor the conducting cf 
busmeas. This, of course, includes the legal fomi 
of KGaA, L a a corpcratkn with general part- 
ners. Hivatbau kiera have, in Germany, a very 
lnngmd firmly estaUbehedtracfitiosiinthepro- 
vidan of finanod services. Tim gives them a 
co mp etit iv e edgB in terms of experience and 
speadned knovdedge.Tbey are accudraned to 
comhanmg and with a 

deciaiou-n iaking prragsa'niepereofladcc enni it- 
xne a t af the partners serves to reinforce tbe 
advantages of providing selected services to a 

djw*HH i mg jjcfldx 

ahiff*l«W 4 i faam mgmTwy in Piw rHigpdtn visit 

his efients regolady and to seek raw btsmess 
oMw f m m printing or from designated new 
clients. With the Bank? s processing of account 
relationships fufty automated, there is no prob- 
lem to evaluate each te a m member’s contri- 
bution toprofiis aridngfromeachcfientrdation- 
flKi p, usually on a monlh-bymoalh bads. 
Results are diBcassed at the end of each quarter 
when, at the same time, plans far the next quar- 
ter are fine-taped^Accradingto the Bank, 68 per- 
cent afqperating costs can be directiy related to 
profits miring from v miraiH I’Menfr nfwmtii, go 
ummvlty high percentage for a bank, with the 
structure of Ttinkans & Bmkhardt 
High demands on tfiw pwfiiprmnn> eff the vari- 
ous departments of^ the Bank have their mirror 
image in an above-average share of costs both 
far qualified rinff* and fer TT W¥di I ipnfa in tprhni - 
calinfraHlructure. As demonstrated by the latest 
figures released just for the firsttime and in con- 
formity with the listing requirements for the 
Bank's pifofic shares, operating profits and 
extraordinary items such as profits from trading 
rathe Bank’s own account appear to more than 
match these outfaya - and leave a comfortable 

More than 60 percentof the staffhave been with 
the Bank for atleastten years. Iastycar,tbepro- 
partion of bank apprentices was almost 3 per- 
cent 'Wiule investing ia human cqdd does not 
mmp unexpected at a bank like Ttinkaus & 
ftritkii ri t, annther consequence of the deter- 
minwtinn to secure sustained eacellenoe has 
already caused quite a stir in the market long 

hwfam ihirffiriwTbwiTigh liitprftiwypwrT VTnkaiwi 

& Burkhar dt ; where same day setdranents on 
top bags rf late fffi empq p ringing hulwnron <m» 

already normal practice, has developed its own 
plprininip hunlring s y st em under the brand 
name “ThB-Thmacash.” 

The inq|uiity cf banks operating in Germany 
have so for either been stow or onty modestly 
Bosceasful in gulling their vazioas concepts af 
electronic banking accepted by key dients. 
TtinkanH & Burkhardt unashamedly claims 

ai p pr if irit y far rlw <ytfam inanfiir as itis aMe In 

provide a broader range of information in addi- 
tion to beinga valuable toed far stzeamliningand 
accelerating Himt tzansactiana. For Herbert 
Jacobs and his fallow partners sodi a develop- 
ment is an almost n atural byproduct in the 
process of translating the Bank's strategy into 
reality: Ttis anecessarypreaaxfition if we want 
to reach fir aleadfagpofition in services far our 

As for the political environment, banking laws 
and supravisoxy authorities wiUrequire financial 
institutions to further strengthen their ca pit al 
bases. In the process it is to be expected that 
non-balance sheet fiahifities will be drawn more 
tightly into toe net cf banking regulations. 

QUESTION: Where does that leave ^ the daaa- 


strengths in this co n text? 

calPcwatbankier? Will he be replaced by corn- 

own innovatory processes. 

Profile of a winner 

T rinkaus & Burkhardfa success is built on 
dearly defined marketing goals with a 
strong praptmriq nn expanding financial 
- services. Its i n^arnat thin background that tbe 
Bank’s and the Group’s firateverpifofished pro- 
fit and loss accounts (up to Jme 30th. 1985) 
. should be assessed. 

Lending and depositrtaking c o ncentrates , on 
short uid medium- term business with cor- 
■ porate rtignta Interest margins the refo re tend 
. to be wav* smaller than for bmks geared to 

. serve smaller private customers - 15 percent 
after L7 percent in 1984. Mfinne, however, 
- mne than makes up for this, fa 1964, net 

Net operating profits desurphiscf net interest 
income and net commission income ewer ad- 
ministration expenses) were slightly down in 
1984 compared wito their high levels in 198 3 , 
due to higher expenses for wages and salaries 

as well as to higher operating expenses. In the 
first half of 1986, there was an abov e - o v e r age 
improvement -to DM 24.7 million atlhe Bank 
(compared with DM 14.6 million for 6/12th 
of 1984) and to DM 35J2 mflEcn far the Group 
(DM 2L7 million for 6/12th ofi 1984). Because of 
the special income pattern of the Bank it is not 
advisabfe to extrapohte th» exception^ devel- 
opment fra the whole of the financial yean 

Financial Hig hli g hts of the Trinkaus&Rurkhaxdt Group 


j r '#- 
.1 «!^ 

In DM milt km 






Tbtal business volume* 






Balance sheet total 





Tbtal tending 






Securities held 






Capital and reserves 







interest inaane was up by 4 percent to EM 7 
m3Hon. fa the first half of 1985, lower margins 

as by high levels cf dividend incane, income 

second half 
Fbanrisl services, tzadxtksMQy one of the focal 
prints of^ Ttinkaus & Burkhardfs badness so- 
tivkiee, have performed well in recent years. 
Tbe ratio of net commission versus net interest 
rate income rose farm 54 percent in J983 to 68 
percent in 1984. In the first half of 1985, net 
amounted to DM 343 milli on, 

Ttedfag activities form an efflential part cflfcfl 
Bank's bosiiieflB.bathin the securities andin the 
forex markets. In line with German accounting 
practices, profits from trading an a banks own 
account are not shown separately, but are offset 
against extraordinary i tem* Kite gen^wl and 
special debt provis ion s, fa the last two years, 
these trading profits exceeded coosavrizvety 
assessed risk provisions cf tbe 
Higher boding profits |hiw 

equivalent to an jnaease of 39 percent over 

fa 1984 profits after tax were up by 283 per 

rant tn nitf 3fl 1 rmllV-in frr top Rank gnH np fry 

26.0 penxnt to DM 26.7 zmOkai for the Group 
as a whole. it 

JACOBL Ctastomar acceptance of efecbtmc 
information systems will grow perceptibly. At 
the same time, however; the need for taflor- 
made services, a speciality cf merchant banks, 
to t i on s wiD therefore gtuwpu^resaively, both in 
number and rise. 

All in all, riassical bank lenefing business can be 
expected to grow rather mere slowly than 
in tire seventies, both domestically and inter- 
nationally. Tbe other side of the coin is that the 
need fi* liquidity management services can be 
nwpprted to gro w significantly. Ibis would in 
tamgrre afartherboosttotheirzgxMtance ofthe 
international money and capital markets, as 
ran an raw fiiumwil nwhnmwifa 

JACOBL Ttinbnw & Burkhardt is a b a n kin g 
house with a tradition going back two hundred 
years. From this a vast fund cf experience has 
sprung. TTxiB tradition has been finked with a 
very detailed fcxwardJookrn g strategy. Oar tar- 
get a to achieve a leading postfen in terms of 
(jofiEty ofbusiiEss yn aH of oiff tflryj 
segments where such a position is not already 
eqoyed. TO are very deer as to whatthe Banks 
future targets are. By co n st an tly checking our 
pragresB towards these goals, we will ensure that 

im p w i w«mpnta are CCntinUOUSty fnadp BO that 

our * ^ h^i can benefit ^ily 


QUEffllON: liny does one 
quality of the services of a private bank? 
JACOBL Aprivate hank cannotefer 1 “"H things 

to Sill men’’ irawt. mtifnn f ffl jy on <w* Iprtwd 

fines erf bnsmesB for selected target customer 
groups. In these areas it most then be aUe to 
effer high quality services which can be 
tailored to the client's needs and for which the 
dfant is wiping to pay accordingly. The quality 
rf the services depends ptimarity osi tite peqrle 
developing and delivering the varions products. 
Also of great im p ort a nce is the availability of 
advanced jnfanrwtion and tow transaction cost 
delivery systems. The ultimate measure cf the 
tonra’utifizstiooand the resultant profitfijility. 
faGemwgyitBnotcuBlraii a ty fo r the t ra tfit Mna l 
private banks to publish P&L resulfa those 

QUESTION: On vrirtf: advantages do you base 
your strategy? 

JACOBL The Bankis particularly innovative in 
the field of terimdc«y. Extremely flexible sys- 
tems are used and their advantages are made 
available to oar customers. A further significant 
advantage which TVinbnw enjoys over its coro- 
petitors is the direct access it has to the worici- 
wide network of the Midland Bank Group. Mast 
important of all, however, is its team of highly 
qualified sta ff winch b able to pursue fee Bank’s 
go als by juitLeringtheurterestBoffai custo me rs. 
There is no doubt that in a service industry this 
is the decisive factor: 

and thus successful op e rati cna is the devriqp- 

QUBSHON: W&at makes tredfikoal pri va te 

banks so diriinft from rtlwr finanwil insti* 


JACOBL The Banking Supervisory Authority 

in Baffin, flw fliiAdinnlf and an a twflnH: too 
Private Bankers Association include early those 
n mlib ilannH in ftwr iipfinitinn nT*ft j vatba nftn* 

tirot.iwP^.'fKprwngiflpwppwflirt/yi^jv.nfhn .il— vi 

partoexfirfas. Acconfar^y, the peraanally fiable 
owners of these banks are “Rjvathankfers.’Cfcff- 
pflratinmi are thus ™4iHai from tins nffirMl 
<4owg fi r j rtvm HjnwH v w, the marketplace is in- 
creesin^y ntcngnmng an extended definition 

QUESTION: Which will be the Banks growt h 
areas over the next five years? 

JACOBL TO have, through a process cf inten- 
sive analyses, framed a very ctear picture as to 
tixjBe areas where, in tiie aaiung years, we can 
particulflity look for business growth. Since they 
carry very similar weight, I wiD fist them in 
alphabetical order first; international business, 
p a r tic ul arl y for our corpor a t e customers and 
already cue of our areas af spedal strength, will 
inevitably be a growth area aa the worid' s ecm- 
twined. Wfe wffl benefit more than prtgxation- 
atetyto cur size because we can call upert an inte- 
grated system of financing; trenwtdkrn pro- 
cessing, enstoroer infomnatasi services and 
foreign exchange daaWng^ which can meet the 
fall range of customer needs. The second growth 
area will be riaarirwl m mjurrrf. hanking ; which 
we have been consistently bmkfingigr in recent 

rn tms new mme fatnre. ttatadio mana|5enia3t 
for private incfividualg represents the third area 
of particular emphasis for the future This is a 
t raditional mtiv ito for iimH rpqumng. 

as it does, extreme dscxetiai and a h^hly 
personalized sgvice. Wfehave invested cmader- 
alfly iii cur fenBiw fag- "global asset manage- 
ment’ Therefore, we believe that we canftifiy 
meet the needs faths particular, and growirr& 
market. B 

THnkaus &Burkhardt 
Stepping stones through the first 200 years 

1785 Ankopatant“Handhmg" 

'after its founder Christian Gott- 
fried Jaeger, is opened. ftabobthenuclffUB fora 
qUHAtyfk MTriiiw^ rnnTiqytTydefitmiw hitofiwv 
tber banking activities were to be developed 

Jaeger who does not have cfaSdren cf his own, 
goon takes in two of his nephews as partners, 
Christian Gottfried TVinlcnnn »iwi AdntfEhMte 

THnkaus concentrates on the money trading 
ride of the business. 

Zahn as personally DaUe partner. CGTVink- 
aus gains inqxHtant status as a foreign trade 

1948 KurtFtasbagisriectedpreridentof 

'the Dusseldorf bourse, an office 
which later also is hdd by Dc Zahn. Both Fbr- 

1798 ^ xr * 8 ^ a n Gottfried Jaeger is co- 

wfihrt w to share ownership popular 
and respectful again. On June 24 1948. one day 
after the currency reform, the Banks balance 
sheet totals DM 55 nrilfian; capital is shown to 
be DM 354.000. 

1 fo und er of t he Dusseldorf Haod- 
hmgHvtzstand, the fiacninag cf the C hamb er 
of Commerce. IfcwW ba guidance, the Hand- 
fang is transformed into an important trading 
firm with extensive international connections. 

~| Deutsche Bank withdraw s as a 

lAnty bi^w hy Tmifawl upwiwnt 

1952 Dr Johannes Zahn jours the TOrid 

Christian Gottfried IHnkana auo 

! ceeda Christian Gottfried Jaeger as 
sale heir The firm is named after him. Banking 
becomes toe most important activity. 

1 Bank as its first German director 
Before that Dc Peter Brunswig had been elec- 
ted tbe first chairman cf the board cf toe newly 
founded 1 j*nA»»q »pit mlhnTilf Nordrbem-TOst- 

18 58 Pfeifia; son tf AdoifPFeif- 

Tbtal assets amount to DM L8bfl- 

Hon on a capital of DM 90 miBirpi. 

! fer, becomes partner in Bankhaus 
G G'Dinkaus. AperiodofstranggrowthfoDows. 
Securities trading stiD one of the pfllara of the 
Bank today, is started. Both G G . THnkaus land 
W. Pfeiffer take on leading roles in toe pohticaJ 
and business community. Their Christian 

T Hnkaus and Wflh«4m Pfeiffer join toem as 
partners in the Bank. 

1972 Wto the merga- of C. G THnkaus 

1870 THnkaus dies. Under toe 

leadership of the other partners 
the riawnral banlring business IB developed 
further. C hris ti a n Thrikanw is one of the co- 
founders of the DuSBekkrf bourse and its first 
president Despite growing competition from 
the big public banks. G G Tftfakaus managBS to 
gain an increasing share in the boom i 
business established during the period. 

I and Baokhsus Burkhardt&Gx, a 
private bank whose traditions go bade to 1841 
(fapn famriwt under tfae nam onf fSmnn B nc fa- 
land in EsseoX the Bank’s namp is rhang pd to 
THnkaus & Burkhardt Tbtal assets are DM 35 
bfflkn, backed by own capital afDMl53 million. 
The seventies saw difficult times for many pri- 
vate banka, fa the wake ofa number of finanoal 
difficulties for various banks cf which the evente 
after the collapse of the Herstatt Bank were to 
become the most noteworthy, even well 
managed private banks were threatened with 


1QQ1 /IQAAAiter the death cf 
JuOVJJ JxrUU Christian THnkaus in 
1891 and WBheJm Pfeiffer senior in 1900, Max 
THnkaus and TObelm FCtififorjuxnte are sole 
proprietors. Their names are doeety forked not 
only with the Banks progress, but also wito the 
development of Dusedmafs cultural life. Max 
THnkaus fe a enfaundse cf the Duasekkaf 


jit Burkhardt accepted an offer firm 
CStibank to acquire the mqjonty of the capital 
Atthe same time the Bank’s strategy started to 
undergo substantial changes- Retail banking 
was given qp. and banking services for selected 
customer groups were given more emphasis. 

1975 The Bank’s present head office in 


1 KSnigsaflee, DusseJdor£ is com- 

1977 fbnnatit» of THnkaus&Burk- 

■^0^0 Since there are no natural suoces- 

1 sers. Deutsche Bank acquires a par- 
tiripation of M 1 miQkM. At toe same time the 
Bank is transformed into a KG (Kommandit- 
ge a e l ladra ft ) with an equity capital of M 8 mfl- 
bon. Detrtsme Banksshare is lata - extended to 
M 12 PuDjopandalao is represented amongthe 
partners in the person of tore- Dusseldorf 
branch manager 

bardt (fatematkmal) SA. The 
Luxembourg-baaed subsidiary was to became 
the .first focus of toe Banka growing Euro- 

1979 Fbnnation of THnkaus & Burk- 

1929 / 1933 ^ 

hardt (Sdrweaz) AG Zurich. The 
nuhridiaiy is founded to support, toe Bank’s 
growing services m the field cf international 
asset management At the end ofl979 toe Bank 
employs 658 people, and toe Group's balance 
shwt total is DM^ 42 billion. Capital is drown at 
DM 162 mfllfcm. 

i Mar THnkaus toe 
bank cranes completely under the umbrella of 
Deutsche Bank. Itis alao merged with another 
private bank, W Ekigelaft Go. imdsr toe nans 
“GG. THnfam^ TnVinS«r P/," 

1 QQA ThehMand Bank Group acquireg 
JLe/OU the majority in tbe Bank from Citi- 
bank fa the best traefition cf aprivate bank the 


formerly member of 
the board ofDeutsdie Bank, and IfartFobeg 
from WnnkkMm Rip.1^ enter «q partners. 
Deutsche Banka partkapatiou is reduced to 
onetoiid of tbe ca^hd. 

asset management are re vam p e d. Ftr these 
and ftr the other activities of the Bank a rede- 
fined strategy is implemented. In cooperation 
wito Midland Bank, service* of toe foreign 
department are extended. A hi ghwr profile is 
achieved m toe international Mating teiafamw 

1985 ^ ® transfc9raed into a 

KGaA wito Midland re t A fa m g a 
■| Q/dfiy’f Q A *7 Rastart ta tte Bank - diare of 70 percent cf the capital of DM90 nril- 
xvrxU/ wito Dr. Johannes Bon, toe resL being pubfidy floated. B 

, -- fe 



Ox. a 


HW Lorn BM At * aroe 


Aremh froK* pw metric kn 
Mar 1,425 TAB 1/00 . t424 +« 

May 1445 M2* 1440 1445 +47 

AM 1481 1481 1488 1485 +45 

Od 1525 1403 1420 1|53S +51 

Dae NT. NT. 1440 1460 +54 

Mar WOO 1447 1477 1485 +67 

Est. wL: 1400 lota al 50 tons. Prav. octuoi 
(Olea: 1425 loh. Opan Intaratt: 27331 

Fraud: francs nor im hi 
Dec 1470 1445 1446 1470 +22 

Mar l.«0 Um 1485 1.900 +30 

Mav NT. N.T. \<m — +18 

Jly N.T. N.T. 1415 - + 15 

SOB NT. N.T. 1,920 - +15 

Dec N.T. N.T. 1,920 — +15 

Mar N.T. NT. 1430 - +15 

Est. vaL: 35 lata at 10 ten Prav. actual 
solas: 41 lots. OMn Interest: 411 

Fraoch woes nr IN ks 
Jan 2,160 X13S IMS X1S5 +51 

Mar UOl lin 2410 2412 +64 

May N.T. N.T. 1240 - +78 

Jly NT. N.T. 1275 — +15 

Sep N.T. N.T. 2*35® — +80 

Nov NT. N.T. 1330 — +70 

Jan NT. NT. 2430 New — 

E 5 t vet.: 104 Ms at 5 tar®. Prev. actual 
sales: 25 tats. Open Interest: 339 
Seurat: Bourse du Commerce. 

per Snare 
9 Month* 

For the latest informs lion on 
De Voe-HoUtein International nv 
and Gty-Oodt International nv 
please call collect 31-20-627762. 

Investors seeking above average 
capital gains in global stock 
markets can simply write us a 
note and die weekly 
will be sent free and without 

First Commerce Securities bv 
World Trade Center 
Snawinskylaas 857 
1077 XX Amsterdam, 

The Netherlands 
Tele*: 14507 firco nl 




Class PravHws 

Bkt Aik BM AJflC 

JOn 17640 17740 M 17JJ# 

Fata 177 40 17150 17940 18040 

Mar 17840 17940 1B04H 18T40 

Apr 181 J0D 18240 Now — 

May 10340 iSAffi? Now — 

18540 10640 Now — 
Votumo: Diets. 

Slapapore cant* w kBo 

Qou Pravtew 

W Alt BU A»* 

HSS1 Jan_ 1524B T52J5 15600 15440 

RSS1 Fata- 15340 15440 Now — 

RW 2 Jon— 14880 14*40 Now — 

RSSSJan— 14080 14740 New — 

OSftJJan— 14240 14440 Now — 

RSSSJan_ 13740 13940 NSW — 

Motavsiai rtooons par 25 tons 

Close Provisos 


Dec 7*3 MS 7M ns 

Jon 748 750 740 MS 

Feta ■ ■■ 755 760 748 75Q 

MOT 760 779 750 7*5 

API 77® 798 740 TOO 

May 740 790 750 7M 

Jly 750 700 740 770 

Seo 740 770 730 760 

Nov 740 770 730 740 

Volume: 23 lots of 35 Ians. 

Seurat: Reuters 

London Metals 

Dec. 2 

Cion Prevtoes 

Met Aril Bid Ask 

SterBea per metric too 

Spot 650-50 65140 65980 46080 

Forward 674JD 67340 651-50 68240 


Stnltae Per melrtctai ^ WJW mj>C 

RjTWTrf 93450 ramo 93580 93940 

gnupppernelrlctam ^ 

Forward 91540 92040 92040 92580 

gSr*-"-" 26450 26100 
Fo r w a rd 27040 27050 27140 27135 


UUrt*” 1 "* 260S40 269540 268040 36M40 

Forward 372040 273540 272940 273040 


Peanperwvwng, ^ ^ 

Forward 41650 41740 41250 4I3J0 

TIN tWasdonn 

Start laa per metric taa 

Soot Susp. Sues. — — 

Forward Suwt SUSP. — — 


Sterling per metric tan 

Spot 47340 4H0Q 403 j00 405X0 

Sources AP. 


DEceoat Prev. 

Offer BO) YleM thw 

J-numlP UP 73S 743 748 7J» 

tmenlti ME 741 741 749 752 

HWMI 747 7-35 741 744 


bm oiler YleM Yieu 1911/32 99U/32 944 954 

Source: Satomoo Bremen. 

Merrill LvsOi^rmery Mm 13355 
Clmee for Me day: — 047 
Averaae rleM: 941 ft 
Seurat: Merrtn L mat. 



Hlffb Lew BM Aik BU AW 
HSfiw per metric ton 
Mar 16850 16040 15740 15750 16040 16050 
MOT 17050 MUD 17140 17140 16488 16450 
AU0 17640 16840 175J0 17640 15850 16840 
Od 10140 17346 18058 M140 17340 17350 
Volume :2JM lots at SO tore 

COCO* . 

SMrtim pot metric too 
DSC 1525 1513 1521 1525 1513 1515 

Mar 1576 1561 1547 1548 1547 1548 

MOY 1594 1582 1591 1592 1588 1589 

J|y 1412 1599 1307 1408 1,705 1406 

sen 1*723 1319 1422 1.724 1421 1423 

D« US 1*717 1430 1424 1417 1419 

Mar 1438 1438 133S 1438 1428 1430 

Volume: 1561 lots of 10 lore 
COFFEE n „ . 
swum par metric Ian 
Jaa 1468 1410 1440 ■ 1445 1499 UH 

Mr 2508 1*936 1495 1498 1425 1429 

MOT 2445 1480 2431 2432 1475 1480 

Jly 2480 2426 2460 2468 2415 2428 

SOP 2.100 2464 2485 2492 240 LOSS 

Nov 2,115 2490 1100 2.105 2460 2410 

jaa 2.140 2.139 2,130 2,135 New — 

volume: 9,189 totsof S ions. 


U4- dollars per metric ton 
Dec 26640 26250 26573 26680 36575 26650 
JOS 26040 25775 25950 259J5 26650 26835 
Pcb 2S5J0 25150 25650 25675 25540 25543 
Mar 26540 24380 2*640 26475 24545 24540 
API 23500 SMB 23650 23600 XBM 2HJ0 
MOT 22840 22740 22640 22745 22840 23040 
Jan 22MB 22S40 22SM 22550 22745 227 J» 
Jly 227 JO 22580 22550 22680 22*80 229 jaa 

Ana 22840 22840 22040 22940 22940 21880 
Volume: 3404 tots at 100 tsaa. .• 

UJL dollar* per Barrel 

Jan N-T. N.T. 2840 2640 2631 27,48 

Feb 2763 2740 2745 2740 2749 2740 

MOT N-T. N.T. 2840 2720 2L90 2740 

API N.T. N.T. 2680 2690 2630 27 JO 

Miy N.T. N-T. 2580 2680 2615 27.15 

Jon NT. NT. 3540 2670 2610 27.10 

Volume: 13 lots oH 800 barrets. 

Sources: Routers and London Pet r ol eum Ex- 
ebartot reason, crude ottj. 

Cash Prices 


' Via The Associated Press 

commadnY m uwr 
Caffea * Santos. lb__ 
FrlfttaWti+MW 38 \%Y*- 
Steal billets (Pitt.), tan _ 
iron 2 Pdry. Pro teuton _ 
Sleet saw No I hvy PIN. 

Leas Spot fb 

Copper elects H> ■ — . 

Tin (Straits). » 

One E. St. L Basis, lb _ 

Palladium, oz 

Stiver N.Y»08 

Source: AP. 

US 148 
OJt 479 
<7348 47341 

3134* 21 UO 
73-74 86-09 

U 3+31 
U-U iS4l 
HA. 62887 
99-181 148-141 
AM 748 

._ — 1/14 — - 

no M M — - - 1/16 1/M — 

ns mm - - vu i/h vu - 

n M HB I4M rat 1/M 18 7/M H/M 

* m a s m ib mi ism 

m m s» n tv» ti/mm 2 U> 2 m - 

195 17/16191 M JR 244 m 40 JM 

200 S/H 13/111 "4 |« H 7» B M 

205 1/16 M 15/16 Ih lift 11+ — — 

TaMcdmNaa HUSO 
TIMPP MtaP* 116791 
TsMml •pnM.TSLm 

MebtKR tee 19350 CtaiffM 0-U5 
Source: CBOE. 

Siren CoH6aP 

D(VI Retires 


W, German Mart-mia warts, amts eera 


9(805 AT 361145= 





U MULCASTBt SnigT^r+Bi^lHgY^l 
IHi 053427351 1 RBG 4192063 


Broke CeOMsUe 
price Ok Me Jn Da 

3i 14 28 W at 

39 079 170 233 082 

40 0.15 1.14 U1 OJS 

41 082 B74 1J1 US 

42 •” MS RS4 — 

43 — — 064 — — — 

EsItmdedlaM voLMOl 
dolls: Frt.vOLA7l2epMM.4UM9 
Putt: Prt. vat 2422 epeataL 36551 
Source: CMC. 

China Expects to Pasa 
U.S. in Coal Production 


BELTING — C hina wjQ surpass 
the United Stales in coal output 
this year to become the world’s 
second producer after the Soviet 
Union, Xinh ua news agency re- 

Output is likely to rise to be- 
tween 830 mOlioa and 850 million 
tons, up from 789 crinion tons last 
year, the agency said Sunday. 

Slower Growth 
Forecast in Asia 
This Year, Next 

Agntoe Fnmce-Presee 

HONG KONG — Asia’s eco- 
nomic growth will slow from 6.6 
percent in 1984 to 4.6 percent this 

1986, the Bank of America forecast 
here on Monday. 

Eric Nickerson, the bank’s senior 
economist for Aria, said at a news 
conference that the prediction was 
based on slower growth in U.S. 
demand, protectionist threats, and 
continued weakness in oommodity 

China's economy was expected 
to experience the fastest growth in 
the region, as the country became a 
“more active and aggressive partic- 
ipant in the world market,” he said, 
presenting the bank’s economic 
outlook for 1986. 

For Chma, the bank forecast 6 

with 9 percent in 1985. For Japan, 
Bank of America predicted the 
economy would skw broadly in 
1986, growing by 3 percent, com- 

V i i i * *1 i T ti 

Own HKtfl Low doss ChO. 

X321A 137% +43 

132 137ft +42% 

Soosoo Season _ • Uh- , 

Htah low Of* 1 HWl 

AM 602 IS AW 740 

9 ’ ffl r 740 m 

Eat. sates Prsv.SalS* MW 

Prav. DayOpsn int. 97.145 up 577 

m « 

m »'» i i 

242* 19*0 Jill gag 2304 

3400 2QZ) Sop 3390 3320 

3425 3055 DSC 

2385 2029 Mar 

Est. Sales - m Prtv.SaW JSn 
Prtv. Day Open Int. 17.781 1»237 

'5BSI'»'35!r r Jfc. ..m 1J7.M 

177 JO . 112JB Mar TU* 11*2 

M3J0 HIM MOV 115J0 115JQ 

15730 11140 Jul 11W0 liM 

leojo mjM sep infl IHi 

11625 lTlJO- Nov 112.50 inM 

11X00 11248 Jan 11240 11U0 

U14S 111 JO Mar 112J0 112J0 


Est. Sates 1JD9 Prav. Sales 402 
Prev. Dav Open Ini. 7.1SA VP321 


aowibs^oantapern. . 

84 35 5838 Dec 61.10 6140 

8630 ' 5835 Jan 


8040 5930 Mar 6140 62.15 

7600.. </m Mav 4245 4245 

7640 6035 JiH 6235 62.40 

7030 4030 SOP 62_55 tOM 

7030 6135 DK 6X15 SX15 

7X70 6130 Jan 

<730 6335 Mar 6X69 6345 

6740 6230 MOV 6655 6655 

*620 6X25 Jul 

4430 - 4UD - Sbd 

ESC Sales _ Prav. Sates 6067 
Prav. Day Oponlnl. 76,106 off 060 

JOLOOOlbs^ cants per lb. 

7tt40 <140* DOC 4605 4610 

7638 4670 Jan 


7X60 4230 Mar 4545 4545 

DATS 4620 -May 4610 4610 

6143 . 4433 Jul 

. 52.10 4690 Sap 

49.10 4B3S Dae 



5345. 49 JO May 

. 58150 ' 5080' Jul 

5115 5130 Sep 

Est. sates Prav. Sates 287 
Prev. Day Doan Int. US7 oH36B 

67V 740 

740 730 

2133 7141 
2208 2214 

t*3 fflg 
2300 2297 

23a 2319 


VU0 11340 
114,® 11S30 
11430 us2o 
iiSdB mao 

11200 11235 
11280 112J0 
11249 11240 
11240 11190 

(030 6130 
6135 (140 
(140 (XI 5 
6130 6240 

£LSS 6X75 
6X15 6125 

6165 6335 
6655 6605 

4445 4630 
45.15 4545 

4535 4620 
47 JO 



Stock Indexes 


8 percent in 1984. 


374B0 tbir canta par Rx 









Ml 80 













18X80 .18348 








Prav. Solas 1364 

Prev. Day Opbji Int. 11376 up 263 


1 1X080 Ib6- cants par lb. 




• 556 

' "548 










64 9 









Formula One ChampionAkin Prost, rvnner-up Michele Aborgto. 

MssAmerica 19B& Susan Akki predecessor Shakne WeBs. 


points and cents 

.20450 17SJ0 Dec 20X40 20255 

20690 18X30 Mar 20450 20605 

20660 18X«B Jun 20630 2063S 

210.10 .18740 Sep 207.70 207.75 

Est Sola 60492 Prav. Sates 5X992 
Prav. Dov Open Int. 74309 off 249 

points mid cents 

21745 18&40 Dec 20730 20775 

21X00 1WLSJ Mar 21040 211.05 

21180 19740 Jun 

2l<75 mas See 

Est. sates Prev. Sales 5401 

Prav. Dor Open int. 11.926 off 14 
paints and amis 

11745 10130 Dec 11675 11685 

119.25 10SJO Mar 11840 11625 

120.10 1 0690 Jun 11933 11935 

12035 108.10 Sea 11975 11975 

Est Sates 9424 Prev. Sales 9454 
Prav, Day Opan Ini. 8,131 011459 

Points and clouts 

' 281 249m Dec 278 27VM 

2B1ft » Jan 279 27V.V 

2BM 271 MOT 2771*4 279W 

EsS-Sate* Prav.Sotes 283 

Prav. Day Open inL 1365 OH 80 

20040 20035 -145 
202.65 20X00 —140 «A 
20640 204-«< —1.95 ^ 

20605 20630 -145 

20540 20540 —195 
20B7D 20080 —XU 
21X95 — 115 
21X15 — IIS 

11545 115.90 —45 

11740 11730 -.90 

11830 lias. —.95 
1)935 11*40 —140 

275% 27 6ft — V/t 
276ft 277 —2ft 
278ft 270ft —1ft 

J tflPCM 
J . 82 






5 MS 



Commodity Indexes 


Moody's 927*0 f 

Reuters... ■ NA 

DJ., Futures 123-85 

Com. Research Bureau. 227-90 

Moody's : base 100 : Dec. 31, 1931. 
p - prellmlnarv; ♦ -final 
Reuters : base 100 : Sep. 18, 1931. 
Dbw Jones : base 100 : Dec. 31. 1974. 

1,707.20 j 
227 JO 

8 677 

34 r 

35 665 

36 389 

37 249 

31 131 

39 040 






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Algemene Bank Nederland tLV. BankAmerica Capital Maricets Group Banque BnixeBes Lamberts A 

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Page 15 

fapan’s NEC to lilt U.S. Chip Prices 




7hs Associated Pms 
TOKYO —NEC Coipw Japan’s 
p sennoraidiictor producer, said 
plans to increase the price of 
emory chips it sells in lie United 
afcs by 20 percent' 

NEC said Friday that low-price*! - 
odiicts with smaller proStmar- 
os had been fart by the yen’s 20- 
xcent appreciation against the 
>Uar since Sept 22, when Japan, 

the United States, France, West 
Germany and Britain agreed to 
pressure the dollar down to help. 
. reduce theU.S. trade defies. 1 
• Although NEC attributed the 
price increase mainly to the yea’s 
■ appreciation,- one official admitted 
the decision was affected by U.S: 
charges that Japanese makers were 
“dumping” memory chi ps in (he 
•United States. 

Several of the. largest U.S. semi- 
conductor manufacturers have 
filed trade complaints against the 
largest Japanese chipmakers, con- 
tending they -sold certain types of 
computer chips in the United 
States at prices below their produc- 
tion costs. 

In addition, tfaetLS. Interna^ 
rional Trade Commission in Au- 

^ ? German Companies to Join 
t In Making Video Recorders 


'"‘n International Herald Tribune 

^.'FRANKFURT — Standard 
lektrik Lorenz AG and Blan- 
“ unkt-Wake GmbH said Monday 
^ iat they had agreed to jointly pro- 
‘acs 1004)00 video-cassette record- 
'■i *s' next year. The move aims at 
olstering the West German 
'oups 1 competitiveness against 
^ ipanese market leaders. 

-* Officials at SEL, a subsidiary of 
fc(T Corp., and at Blaupunkt, a 
ibsuftary of Bosch GmbH, said 
^tey were acting to offset costs in a 

highly competitive market where 
profit margins hmt been squeezed 
by dedining prices. The VCRs will 
be sold wndar both the Blaupunkl 
and SEL labels. Friar to the agree- 
ment, both , companies produced 
VCRs in cooperation with Japa- 
nese companies. . 

Blaupunkt announced last 
month that it had entered a joint 
production agreement with Grmt- 
dig AG, the consumer electronics 
group, on manufacturing, color 
televisions and car radios. 


: ; S Unit of British Caledonian 
4 Drops Hong Kong Venture 

. 2 ' Reuters 

J - HONG KONG — Caledonian Far East Airways, a subsidiary of 
British PataHnniaw Airways Ltd, said Monday thm it had withdrawn 
. _ ts petition to provide air services from Hong Kong, 
ii J? A statement on (he Oral day of Tiparingg by the Air Transport 
; b licensing Authority said the decision was made became of imcer- 
y r-ainty about routes to China and competition from the leading Hong 
vong-based airline, Cathay Pacific Airways, 
i . The authority was due to consider applications by Caledonian 
; £2ast and Hongkong Dragon Airlines Co. for scheduled service 
^ China and other Asian destinations. 

The company had planned to establish Caledonian Far East, now a 
;argo handler at Hong Kong's airport, as- a new regional airline with 
~-Jie majority erf shares bdd in the British colony. 

^ Civil aviatkm talks between Britain and China last month resulted 
n Cathay Pacific being granted two scheduled flights each week 
r between Beijing and Hong Kong. 

i; Hong Kang’s financial secretary, Sir John Bremridge, ruled out the 
'■< possibility last month of any other airline’s bring allowed to fly that 

Caledonian Far East had applied for six destinations in China, 
. nduding Beijing, and 18 others in the region, including Nagoya in 
~fapan and Kaohsnmg in Taiwan. 

•Cathay Pacific, 70-percent-owned by Swire Pacific Ltd., said a! 
Monday’s hearing that it would resume flights to Nagoya and Kao- 
i siting next April under a license it now bolds. 

services to 


complaint filed by Micron Tech- 
nology Inc. of Boise, Idaho, saying 
Japanese- computer nhip imports 
may be iquring U.S. semiconduc- 
tor producers. That complaint, un- 
der investigation by the UiL Conor 
merce Department,' turned NEC, 
Fujitsu Ltd, Hitachi LuL, Matsu- 
shita Electric Corp., Mitsubishi 
Carp., Old Ltd ana Toshiba Ltd 

.Outer major Japanese semicon- 
ductor makers were expected to 
follow NEC’s pricing action. 

' NEC officials said 64-kilobit dy- 
namic random access memory and 
256-kilobit products had been 
hardest hit, and their prices would 
be increased about TO percent 

But they added. the prices of oth- 
er pnxhjms, such as read-only 
memory chips, might be hiked 
more moderately. 

United Merger 

(Continued from Page 11) 
brands on a global basis,’* they 

United's deputy chairman. Wil- 
liam Guns, said the combined 
company could use Imperial’s 
heavy flow of cash from cigarette 
operations to finance expansion of 
faster-growing businesses, such as 
restaurants and convenience foods. 

Analysts were mated in their re- 
action. “It’s not a case of one plus 
one equals four,” said Julian Lakin 
of Scnmgeoar Vickers & Co. “It's 
maybe two and a quarter or two 
and a half.” 

Geoffrey Kent, currently chair- 
man and chief executive of Imperi- 
al. would be chairman of the com- 
bined company, which has not 
beat named Sir Hector Laing, who 
is United’s chairman and whose 
grandfather is credited with having 
invented the digestive biscuit, 
would be chief executive of the new 

Talks Progress 
On Power Plant 
Soughtby China 

Ae&tct France- Prate 

■HONG KONG — Negotia- 
tions between China, France 
and Britain on China's first ma- 
jor nudear poorer plant should 
be completed in the next two 
months; the British trade com- 
missioner said here Monday. 

The official, Christian Ad- 
ams, said that although the par- 
ties still have agreements to 
work out, particularly over 
prices, negotiators were now 
working on the final stageof the 

Disagreement over prices 
with the Chinese prompted 
Britain's General Electric Co. 

tO pull OUl Of the Hieniccifttic m 

October. But the talks were re- 
sumed last month. 

GEC is negotiating to supply 
conventional generator equip- 
ment for the plant to be built in 
Daya Bay, southern China, 
while Framatome of France 
hopes to supply two nudear re- 

U.S. Automakers Leaning on Price Incentives 

By John Holusha 

New York Times Sendee 

DETROIT — Chrysler Corp.’s 
derision to end the year with yet 
another round of sales incentives 
clearly indicates Detroit’s current 
preference for cutting prices rather 
than cutting production. 

But the Chrysler move may also 
be a sign that consumers have got- 
ten used to incentives and are 
avoiding dealers' showrooms un- 
less a special offer is in effect. 

“The customers are trained 
now ” said Michael K. Evans, the 
head of Evans Economics. “They 
were waiting for this to happen.” 

Chrysler’ s move was foreshad- 
owed when all the auto companies 
kept their production lines hum- 
ming even though sales fell as ex- 
pected in October and November, 
following a major round of sales 
incentives in the previous two 

Unless the stocks of unsold cars 
can be pared, the three largest U.S. 
automakers — General Motors 
Corp.. Ford Motor Co. and Chrys- 
ler — will almost certainly have to 
reduce their planned production of 
2.2 million cars in the first quarter 
of 1986. 

Such cutbacks would send a 
ri.-impgmng effect rippling through 
the entire U.S. economy, particu- 
larly the vast array of companies 
that supply automotive compo- 
nents. The auto and supplier indus- 
tries account for about 5 percent of 
gross national product, Mr. Evans 


said. GNP measures a country’s 
output of goods and services, plus 
income from operations abroad. 

“The only surprise was that they 
didn’t do it in November,” said 
Mkhad M. Luckey, an analyst 
with Merrill Lynch Economus, 
speaking of ihe new round of in- 
centives. “They didn’t have much 
choice, because GM was up to an 
88-day supply of cars at current 
selling rates and Chrysler was at 
90.” A 60-day supply is usually 
considered ideal 
Chrysler said last Wednesday 
that it would offer 8.6-percent fi- 
nancing or rebates of $500 to 
S 1,000 on about half of its 1985 and 
1986 product line, mostly smaller 
models. Announcements by GM 
and Ford are expected this week. 
Price cuts in the auto industry 

were almost unheard of a decade 
ago. If sales were slow, the car mak- 
ers would offer incentives to deal- 
ers to make them more willing to 
haggle, but the public was not di- 
rectly involved. To balance produc- 
tion with sales in those days. De- 
troit was more willing to slow the 
assembly lines or simply dose 

But shutdown costs are higher 
today, and the automakers are try- 
ing to develop a closer relationship 
with parts suppliers and labor. 

The practice has sent some eco- 
nomic indicators on a roller coast- 

Retail sales plummeted a record 
3 J percent in October as a big drop 
in auto purchases offset modest 
gains elsewhere. Sales had risen 2.1 
percent in September and 12 per- 
cent in August as consumers went 
on an auto-buying spree inspired 
by cut-rate financing. 

The Consumer Price Index 
climbed OJ percent in October, 
slightly more than the string of 0.2- 
percem increases that prevailed 
from May through September. Pan 
of the reason was that automobile 
finance charges jumped 1.9 percent 
after 10 consecutive declines as 

manufacturers eliminated some of 
their incentive financing programs. 

And GNFs third-quarter growth 
rate of 4.3 percent was significantly 
influenced by the strong output of 

Economists say lhai the main 
issue is whether the incentives stim- 
ulate an increase in tout! sales for 
the year that would spur additional 

Modest incentives, such as the 
ones now being offered by Chrys- 
ler, have been regarded simply as 
time shifters that pull in sales from 
future periods by persuading peo- 
ple to buy cars earlier than they 
otherwise would. But major incen- 
tives, such as the 7.7-percent fi- 
nancing offered in August and Sep- 
tember, changed the economics of 

buying a car sufficiently to attract 
additional customers. 

Harvey Heinbach. an analyst 
with Mcml] Lynch, has estimated 
that the 7.7-percem campaign re- 
sulted in 400.000 extra car sales. 

Annualized car sales rates fluctu- 
ated wildly this year because of 
incentive campaigns. The rate for 
domestic cars went from 7.4 mil- 
lion units in July to 1 1.3 million in 


ioeing’s de Havilland Bid Called Successful 

(Continued from Page 11} 
aintam existing production and 

jployment levels at de Havil- 

- :?'.^_id's present facilities in Toronto 
d Ontario. 

The agreement to enter final Do- 
nations with Boring comes near- 
■ a year after Boeing expressed an 
erest in de Havilland, particular- 
in developing its fast-selling 
in -engine Dash 8 model Boeing, 

_lustry sources say, is eager to 

3 .^i Xune a supplier of commuter air- 
;.j. ft for regional airlines. 

. ."anariian officials had indicated 
>- math ago that Boeing was dear- 
. . the front-runner in the bidding 

for de Havilland. which included 
laie-placed bids from Mr. Donna 1 
and Rimgate Holdings LuL, a Ca- 
nadian investor groap that includes 
the Dutch aircraft group, Fokker 

. The choke of Boring, flip offi- 
cials said, secures an unparaHeled 
marketing network for de Havil- 
land aircraft and also assures ade- 
quate capital investment needed to 
cover further development costs in- 
volved in building a stretch 50-seat 
version of the current 36-seat Dash 
8 plane. Boeing helped establish a 
world-wide marketing program tra- 
de HaviOand’s struggling Dash 7 
model in the late 1970s. - 

Mr. Doraier last month an- 
nounced a 300-milbon dollar take- 
over package fra both de Havilland 
and a second state-owned aircraft 
group, Canadair, with an added 
200 ariUkm dollars in spira l in- 
vestment On Monday, Mr. Dor- 
mer said he would fly to Ottawa 
this week to discuss a possible bid 
for Montreal-basea Canadair 

Several bids, including one from 
a Canadian aviation consortium. 
Fleet Aerospace, have been entered 
for profitable Canadair, but Otta- 
wa officials have said they, do not 
expect to privatize the company 
until well into 1986. 

American Motors Corp. plans to 
import 60,000 R-R21 compact cars 
from Renault of France up to the 
first quarter of 1987, the U.S. trade 
journal Automotive News, said. 

Ansett Antilles of Australia or- 
dered eight Airbus A-320 planes 
and took out options an nine oth- 
ers, the stretched A-320/200 ver- 
sion. The ordered aircraft axe to be 
delivered between September and 
Christman 1988. No finflnrial de- 
tails were available. 

Befl Ghroup Ltd., the Australian 
energy concern, said' it hdd 176.17 
mil li nn shares in Broken Hill Pro- 
prietary Co_, or 17.1 percent of 
BHFs issued shares, by last Friday, 
renewing speculation cm another 
Bril bid fra ril or part of BHP. Bell 
made an unsuccessful bid in Au- 
gust 1983. 

Evening News Association, 
which owns the Detroit News, said 
its president and directors will urge 
shareholders to approve the com- 
pany’s proposed takeover by Gan- 
nett Co. at a special meeting Dec. 
20 . 

Honda Motor Co. of Japan said 
it raised the retail prices of cars in 
the United States by an average 4 
percent to offset losses expected 
from the Japanese yen’s rise against 
the dollar. Nissan Motor Co., Ja- 
pan’s second largest automaker, 
announced a similar increase last 

Ka Wah Bank Ltd. erf Hong 
Kong plans to issue an unsperif 
number of new shares to Kai Hin 
Enterprises Co., a joint venture be- 
tween Chinese and Singapore inter- 
ests, and the Dutch insurance 
group, Amev NV, a spokesman for 
the bank said. East Asia Warburg 
Ltd. has been appointed financial 
adviser for! the issue. 

Knight-fodder Newspapers Inc. 
announce^ -a restructuring of its 
-j ^ p Anthony 
bhsher of the San Jose 

Hoaiing^Rafe Notes 

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Cr National 00 
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Fm Inter 95 
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Gl western 12/79 
Gt Western torn 
MB Samuel 74 
HID Samuel Perp 
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Spain 72/77 
Spain IS IMMtl 
Spain n/n 
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Beisiuin 97 (Dml 
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Malaysia 2085 
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Source : Crotftt Suisse-FInt Boston UdL. 


FynmooiMoketing i^resaritoi w neodod inHona KongtorepreSBrtf IQyear 
old US baud synefcstor. 

Our Gnupony designs axi markels through slock broten ctxJ bond and share 
brrioBn Jna (bloMnng treurma rod imrestmart progank 

— Aiy n u U H r -Bdd r i W a !>■> » » ili i rv -Qi aid Gat Pglnw «l i( p* .Wdhgv>t»i 
oaooolant Tiack Raconf. 

The penon vw are locking for needs suaxssfiJ sales sxperierxB and suassifui 

dotperiencB b a bond tana ihare broker and sdonavs pnvioii B^wincB in 
the Hong Kong community. 

Compen sa tion based primarily on conpnis ao n s - possibly of s»dgr(ULS^ 
ronud eroiing cDpabinyi 

flbasE send assume toe 

Vim MdGuhmmr Chief EnouMw Offior, Ihe MeGwnnm Group, 
1101 Boyskfe Driven Suite 100 ^ Corona dal Mar, Gafifama 92625 

Mercury News, as presided i of a 
newly organized newspaper divi- 
sion. The restructuring centralizes 
operations of the Miami-based 
company’s 28 daily newspapers un- 
der one executive. 

Menefl Dow of Cndnnati, mak- 
er of the drug Bendectin, which 
allegedly causes birth defects, won 
the right for its appeal to be heard 
by the UJ5. Supreme Court The 
appeal argues that lawsuits filed by 
two foreign women who took Ben- 
dectin were improperly transferred 
to federal court. 

Pratt & Whitney was struck by 
several thousand workers at the 
U.S. aero engine group’s four Con- 
necticut plants. The stoppage was 
called by the International Associ- 
ation of Machinists in connection 
with a new three-year labor con- 

Really Useful Co_, the company 
owned by Andrew Lloyd Webber, 
the creator of shows such as Cats 
and Starlight Express, is to offer 
shares in the company on the Lon- 
don Stock Exchange early next 
year. Finan cial derails have not 
been completed, the company said. 

Sperry Corp. of tire United 
States has had a partial ban im- 
posed on the company and its sub- 
sidiaries lifted by the Arab Office 
fra the Boycott of Israel. Bahrain's 
official Gazette reported. It said 
the partial ban. imposed in 1970. 
ended Ocl 26. 

We have pleasure in announcing the 
establishment of our representative office 
in Paris on 3rd December 1985 headed by 
Mrs : J \ LeMoignien 

Rabobank Nederland ' 

8, Avenue Franklin D Roosevelt, 
75008 -Paris. 

Telephone: (1) 42893027. 

c r 

Mo ndays 


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'29 5f §'?'«> _ » auain 

JH TO isteypf ijo u» inn 


Tables include the nationwide Prices 
up to tits dosing on wall Street 
and do net reflect late trades elsewhere. 

I 'ta The Associated Press 

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27 1316 

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l NTE RNATJONAL FUNDS (Quotations Supplied "by Funds Listed) Dec. 1, 1985 

Nat amt vahw auoTatloiii an suppSHl by tha Fundi Hrtvd wHh tb« exception of loms quotas baaed on issue price. 

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< v % Bob Hagerty 

S/". International Herald Tribune 

■ \ JEDDAH — Saadi Arabia ap- 
: ' £ ; , ^ars ■ determined to "continue 
, 1 '< i moping crude oQ atthesfaarply 
i f-£icrcased feyd attained 7 tins an- 
*,! ,rimn, even if oil prices begin to 
lungeasa result 
The iingdom is producing 
Irotmd 4J5 miffioo barrels a day, 

, ; ; * $ full quota under rules set by the 
: ’ . j frganiffltioti of Petroleum Expoit- 
. ,v\g Countries, industry sources es- 
.. ' ; mate. That is more than, double 
? 20-year-low that the Saadis hit . 
:■ list summer, though still far below 
' -'leir peak .of more thari 10 mfliinn 
^ !* -amis live years ago 

The Saudis increased their sales 
..^xy foil owing the lead, of other 
* • 1PEC members and offering mar-* 

el- related prices rather than those 
_ ' * ordained fay the unruly cartel. Sau- 
V : i Arabia now sdls more than oncx 
. < 'nrdofilsmuleoilona <> netba^ JN 
ans, which ties the price to the 
intern market value of the prod- 
.• cts refined from the erode. 

TheSaudi discounts demonstiat- 

that “what others can do, Sandi 
do better," Subroto, oil minis- 
•^r c t Indonesia and president of 
tiPEC, observed recently. The 
' ingdom’s decision was roomen- 
■ mis because Saudi Arabia, winch 
- .oats atop about a quarter of the 
odd's proven cal reserves, is the 
ie producer with the power and 
aabOity to raise or lower its out- 
jt sufficiently to have a major 
— ^ fluence on oil prices worldwide. 
—-ns. Thus, the new Sandi policy offers 
lie comfort for the other 12 meru- 

• as of OPEC which is scheduled 

Mexico’s Trade Surplus 
Narrower in 10 Months 

AetJtce Franc e-Prasc 

MEXICO CITY — Mexico’s 
ade balance was in surplus by 
L27 billion in the Gist 10 months 
’ this year, a 42-percent decline 
om the same period in 1984, the 
. jvemmenl said Monday. 

Exports totaled $17.90 billion, 
>wn 12 percent from a year earli- 
, while imports rose 21.7 percent, 
$11.63 billion. 

a meeting in Geneva this 

CXI prices have bem very strong 
in recent months, largely because 
-oil companies found themselves 
short of heating oil as winter ap- 
proached- Bat. producers have 

rndyij tn fiyyt that ifamand, and a 

sharp drop in prices last week sug- 

living an Leas in Saudi Andris 

Lost of five articles 

rested that they had overdone it. 
OPEC’s total production is esti- 
mated at 18. nnQion bands a day, 
well above the gram’s self-imposed 
cefling of 16 miltipn width ac- 
counts for about a third of demand 
in die non-Communist cotm tries. 

“OPEC is already sowing the 
seeds of its own destruction fay pro- 
ducing far too much," David 
Gray, chief oQ analyst at James 
Capel A Co_, a London stockbro- 

In die old days, the Saudis could 
have been counted cm to cut bade 
their production enough to prevent 
a preemptions drop in prices. Last 
$nmpiff hOWeVCr, itwhngrinm put 
its OPEC partners on notice that it 
no longer would serve as the 
“swing" producer, responsible for 
trying to balance world supply and 

Many Saudis say their swing role 
only benefited other producers, let- 
ting them increase their sales with- 
out causing a price collapse. 

“Nobody’s appreciative,” a se- 
nior Saudi di plomat complained 
recently. “They took it for granted. 
Now we’re saying, This is it. Every 
man for hunsdf.’ " 

Other OPEC members some- 
times argue that Saudi Arabia is so 
rich that it can afford Anther sacri- 
fices. Though Indonesia's popula- 
tion is more than 16 rimes mat of 
Saudi Arabia, for example, the In- 
donesian quota is less than one- 
third of that accorded to the Sau- 

For domestic political reasons, 
however, it would be extremely dif- 
ficult for the Sandis to reduce their 

output sharply again, observers in 
the kingdom say.- 
Already; the recession is squeez- 
ing hard. Last summer, the drop in 

oil sales cut 
far below b'ui 
wmig the kin 
big budget d 

nroeut revenue 
l leyds, threal- 
l with its third 
in three years. 

lit High Economy 
A Hot Issue 

4H :< qTTn i 


The government is seeking ways to 
reduce spending further, but cut- 
badss are provoking grumbles from 
powerful businessmen^. 

. While the government could bor- 
row, that would offend S&udi-pnt- 
dimse and rdiffous objections to 
paying interest, at least in so open a 

T ire Sandis also generally oppose 
the idea of eating further into tire 
country’s estimated $90 billion of 
foreign reserves. Though sti& sub- 
stantial, the Squid part of the re- 

serves has been dwindling at a wor- 

risomerate. . 

When production dropped near 

2 miffin ri bmrrin a day last summer, 
"“they had nothing to lose" by risk- 
ing a price war, a diplomat in Ri- 
yadh reasoned. At that levd of out- 
put, the Saudis had only about a 
million barrels a day of revenue- 
producing crude, since domestic 
usage and aid to ocher nations was 
soaking up nearly a 

By doubling production to 
around 4 nnIKoii, the Saadis tripled 
(heir levenuwjrbducmg barms to 

3 miffi on. Even if prices had 
crashed to $10 a band from die 
current range of about $25 to $30, 
the Saudis would have had slightly 
more income rtian at last summer’s 
low paint. 

For the futu re, the kingdom has 
not ruled out producing above its 
quota if other OPEC members per- 
sist in doing so. “Our policy is that 
if if s free for some, it’s free for all,” 
ShdVh Ahmed 7*lri Yamam, the 
ml mhnstra, said in a recent inter- 

The minister, who has been in 
office since 1962, raid an oil-price 
war not year could still he avoided 
if all producers, including those 
outride OPEC, cooperated in re- 
straining, output. But, he receded. 
such cooperation did not appear 
likely, at least not yet. 

Some ml analysts believe that 
many Sandi officials would like to 

fi Ppi 


Sterling Tops $1.50 Before Fading 

Shdkb Ahmed Zaki Yamani: 
“Free for some, free for aD” 

see ofl prices drop below $20 for a 
short period. The Saudis don’t 
really see any way around it a: this 
point,” said Joseph C Stray, presi- 
dent of Gulf Consulting Services, a 
Virginia-based firm. Such a plunge, 
he suggested, might convince Brit- 
ain, Norway ana other non-OPEC 
producers to trim their output 

la any case, be noted, the Saudis 
have always tried to keep ral prices 
low enough to be competitive m the 
long term with other fads. la the 
1970s, Saudi Arabia refused to 
raise its prices as high as other 
OPEC mothers. Such a conserva- 
tive policy makes sense for a coun- 
try whose oQ reserves are large 
enough to continue pumping at the 
current rate fra 116 years. 

Others argue that the kingdom is 
too cautious to ramrairage. a prim. 
war, though it probably is p r ep are d 
fra the possibility that others will 
start one. 

Shaikh Y amani said that it 
would be preferable to try to regu- 
late oil output and avoid unleash- 
ing the full effects of market forces. 
When he was asked whether a price 
war would lead to violent upland- 
down swings in prices, there was no 

“Very violent,” he said softly. 

(C on tin u ed from Page 11) 
which, if endorsed by the IMF 
board in Washington, will release 
another $106 million to help the 
Philippines handle its debt prob- 
lems. Half the country’s export 
earnings now go to pay interest on 
its S26-taHion foreign debt. 

The economy has been in a tail- 
spin since late 1983, initially the 
result of a financial crisis- In 1984, 
economic growth d«4med by 5.3 
percent, its sharpest contraction 
since World War IT, and a similar 
figure is likely this year. 

The government has followed an 

»nelprity p ro g ram imilyf IMF guid- 

ance and has succeeded in reducing 
inflation from the 50-percent mark- 
in 1 984. The rate this year is expect- 
ed to be about 20 percent Interest 
rates have also fallen sharply. 

The proposed presidential elec- 
tions themselves pace a threat to 
the fragile economy. Opposition 
spokesmen and businessmen esti- 
mate the ruling KHusang Ba- 
gong lipiman, or New Society 
Movement, wQl spend at least $300 
million on a campaign to re-dect 
Me. Marcos; some estimates are 
double that 

Any figure in this range could 
ysid inflation sn aring a g* ac- 
cording to Mr. Concepcion, the 
businessman- A smaller amount, 
however, might put a tittle life back 
into the cnnquwg- economy. 

Coconut oil and sugar remain 
the country’s top agricultural ex- 
ports. More than 35 percent of the 
54 million FSipinos are involved in 
their production, processing and 
sales. But the world price of sugar 
collapsed several years ago, and 
this year the coconut dl industry 
has Seen affected by competitive 
products and storm damage. 

“Agriculture is doing OK.” a for- 
eign economist in Manila said. It 
showed a slight growth last year 
while the industrial and service in- 
dustries slumped. “The problem is 
to redistribute the benefits," he 


NEW YORK — The British 
pound climbed above SI JO Mon- 
day in European and U.S. trading 
for the Orel time in more than two 
years, but fell back in later trading 
amid a general dollar rally. 

Dealers said comparatively high 
UJL interest rates combined with 
the fall of the dollar against most 
currencies helped posh sterling 
gradually op to $1.5017 during 
morning trading from Friday's 
dose of $1.4880. 

Tbe British currency later fell 
back to dose in London at $1.4885 
as the dollar recovered. In New 
York, the pound also closed at 

$1.4885, down from $1.4900 on 

Sterling was last quoted above 
5130 m London in October 1983. 

The dollar, meanwhile, bounced 
back from two-year lows against 
the Deutsche marie amid heavy 
buying by profit-taken. 

[n New York, the dollar rose to 
23180 DM from a session low of 
2.4900 and iis dose on Friday of 
2.5140. Hie U.S. currency also rose 
to 203.70 Japanese yen from 20130 
on Friday: lo 7.6805 French francs 
from 7.&S5G and to 2.0960 Swiss 
francs from 10800. 

In earlier trading in Europe, the 
dollar closed in London at 23185 
DM up from its two-year low of 

Copper Prices at 2-Year Low 
As Tin’s Problems Spill Over 

United Frets International 

LONDON — Copper hit a two- 
year low Monday and dealers laid 
tbe blame partly an the problems 
of tin trading, as the International 
Tin Council resumed efforts to re- 
solve that crisis. 

At the pre-market unofficial fix 
in London, high-grade copper was 
at £938.4 ($1,48030) a metric ton 
(1.1 short tons) for cash. By the 
morning official fix on the London 
Metal P»r*angr, the price was 
down to £915. 

“The London tin market fiasco 
has now spilled over into other 
metals, notably copper where 
prices now are very depressed," one 
d e al er 

The two metals are mined and 
consumed separately. Bui because 
tbe LME*s ex p os ure to tin is so 
hi g h , trading houses that deal in a 
variety of markets are reluctant to 
tie up cash m other met nit 

Three months higher-grade cop- 
per was early Monday at tbe equiv- 
alent oT $1,49230 a too, compared 
with levels of $2^50 a ton 12 
months ago. London Metal Ex- 

change higher-grade copper, one of 
the two copper contracts traded on 
the market, is tbe benchmark for 
copper prices worldwide. 

Without investor-speculator 
cash flowing into the market, cop- 
per has proved to be sluggish in its 
trading habits, traders said, and the 
market is perhaps $300 a ton below 
its current potential price. 

The short-tenn outlook for con- 
sumption remains good. 

Industry bodies such as the In- 
tergovernmental rwmeil of .Cop- 
per Exporting Countries, CTPEC, 
which includes Chile. Zambia and 
Zaire, and the International 
Wrought Copper Council which 
includes consumers in its member- 
ship. expect demand to outstrip 
supply over the next two years. 

■ Britan's Pledge on Tin 

Britain renewed Monday its 
pledge to honor its share of debts 
and other commitmaits contracted 
by the International Tin Council 
in order to solve tbe five-week-old 
tin-trading crisis, Agence France- 
Presse reported from London. 

14923 hit earlier Monday, and 
above its close on Friday of 15075 
DM. At the earlier fixing in Frank- 
furt, however, the dotiar was set at 
15030 DM. down from 1S120 at 
the Friday fixing. 

Earlier in Tokyo, where trading 
ends as it is getting under way in 
Europe, the dollar rose to 203.10 
ven from Friday’s close there of 

In other European markets 
Monday, the dollar was fixed at 
midaftemoon in Paris at 7.6350 
French francs, down from 7.6645; 
at 18160 Dutch guilders m Am- 
sterdam, down from 1S260, and at 

1.703.00 lire in Milan, down from 

1.708.00 on Friday. 

2 Exchanges 

Battle in U.S. 

(Continued from Page 11) 

both groups of investors is crucial 
for the contracts’ success, analysts 
and traders say. 

But the pool from which 10 draw 
is small A Board of Trade spokes- 
man said only 200,000 people who 
are not exchange members trade in 
US. markets, and this level is 
growing by only 3 percent a year. 

While tbe public spotlight is on 
the rivalry between the two Chica- 
go exchanges, other exchanges are 
developing new contracts. New 
York's Commodity Exchange (Co- 
xnex), which trades metals futures, 
said it is considering branching out 
into financial contracts and is plan- 
ning a linkup with the Sydney Fu- 
tures Exchange in Australia on 
gold futures. 

During the past five years, New 
York’s four futures exchanges have 
successfully forced Chicago out of 
markets by having an established 
contract with dependable volume. 
Among the contracts that failed in 
Chicago were gold, energy and 




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NASDAQ prices as of 
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Via The Associated Press 

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SoteB ore wwMctat. Yearly hi oh* and tows reflea 

the previous 52 weeka plus the current week, but nol tee tales! 
trading dov. Where a stflt or steOi dividend amounting la 25 
percent or more has beenwKL the yeort hlgtvlow rang* and 
dividend are shown ter the new stock orrtv. Unless otherwise 
no tea rates of dividends are annual disbursements based on 
the latest declaration, 
a— dividend alee exlra(S). 
b— annual rate oi dividend plus stedt dMdena 
c— llauldatlfia dividend, 
eld— coded. 

d — new yearly tow. 

e —dividend declared or paid in preceding 12 months. 

9— dMdond In Canadian iundxiiMadtolSMnDfwesldence 

I — (HvUend doctered attar soUi4ip or stock dlvIdemL 
I —dividend paid this year, omitted, fl at err e d, or no action 
token at latest dlvWwid meeting, 
k— (fliNMnd dedared or paid this year, an occwmiloiive 
I sue with dividends in arrears 

n ~ t *? ,,, »”vo »n f>we °k<°*09ta-ThBhlrt54owroaiBebegl(a 
will) ms Bran off tiwne. 
nd— next day delivery. 

P/E— pde e -f or n in gs ratio. 

r— d ividend dedared or paid In preceding 12 months. Plus 
stock dividend. 

0 — stock wHH. Dividend begins with date of split, 
sis— sales. 

1 — dividend paid In stock In preceding 12 months, estimated 
cadi value on etadlvldend or gx-dbhibuilon dole. 

u— new veorty Wgh. 
v— tradlne hoHed 

vt-Jn banteuplev or receivership or being reerganbed w> 
dor the Bankruptcy Ad, or securities assumed bv sutti com- 

wd — when distributed, 
wl — when Issued, 
ww — with warra n ts. 

* — tetdtvMend or ax-rlMils. 

*dls — «-dblrfbirtton. 

«w— wHhout w ar ra nts , 
v —ex^Bvktend bid sales in full. 
rW— yield. 
t — tales In hm. 

Page 18 

I I I I — I I |» I" I 1 I" ■ I" 



42 Aujut a MOtafc 
_ h/j-Tim S. of. ffco Vs Mb 
r cL A*U lya^MUs. 

CjmL- leak ■fatten I 

XhutLMrifb. I 

Ajumdatn, Mid. afsJqh,. 





|28| |29 130 131 














[51 [52 153 |54 



V . SLEEP r--. ^ 




1 Stake 
5 Successor to 

10 Pan of Q.E.D. 

14 Olympic track 
legend Zaiopek 

15 San Antonio 
battle site 

16 Italian coastal 

17 Bandleader 
who taught 


19 Take it easy 

20 Propulsion 

21 Necessitated 
23 Big Eight team 

25 Gull's cousin 

26 Soundly 

28 Marsh wader 
32 Uninteresting 

36 Steady gaze 

37 Space 

38 Gangsters' 

41 Roman poet 

42 Ascot 
44 Lengthy 


46 Hunting call 

47 Assesses 

48 Word with run 
or rule 

50 Book carrier 
55 Its capital is 
59 Punjabi city 

60 Merit by 

13 the line 


61 "One O'clock ig Unique types 



63 Maginoi or 

64 Almost 

65 Apex 

66 Piccadilly 

67 Untwist a 
ship’s rope 

68 Cheek 

22 War god 

24 Japanese 
wrestling style 

27 *'l cannot lie 

29 Indian 

30 Jay Gould's 
railroad, once 

31 Turner and 

32 Wallop 

33 Killer whale 

34 Veritable 

35 Falha of the 

39 Bordeaux beds 

40 Sly 

43 ASS 

45 Take at (try) 

47 Les Brown and 
his Band of 


1 Small hairy keyboard 

dogs. 30 Bordeaux bed 

familiarly 40 Sly 

2 Acid type 43 Ass 

3 Jargon 45 Take at (l 

4 Famous 47 Les Brown an 

marbles his Band of 

5 London 

auctioneer's 49 a neighbor of 

workplace Hong Kong 

6 Clay, later 51 Cowboy's 

7 Bandleader leggings 

Brubeck 52 Hebrew 

8 Catkins prophet 

9 Rich dessert 53 silkworms 

dish 54 Emblems for 

10 The Duke of Welshmen 

jazz 55 A type of vision - 

11 Middle 56 Rock musical 

Eastern 57 Pisa's river 

currency unit 58 Twofold 

12 Woodworker's 62C.I.A.-F.B.I. 

at (try) ANDY CAPP 

>- GOON < 


□Ml by Ihm Amaiti 


© New York Tones, edited by Eugene Mtfieska. 



liw— > 

(71 D©U \ 

FCR&T \,J: 

mrm 1 * 


v A 

By William. Golding. 207 pages. 1 19.95 
Faber & Faber, Inc, 39 Thompson Street, 

■ Winchester, Mass. 01890. 


From Peshawar to Chittagong- 

Introduction by Paul Theroux. Photographs 
by Steve McCurry. 143 pages. S 19.95 
Bintgfuon Mifflin Co n One Beacon Street, 
Boston, Mass. 02108. 

By James T. Yenckel 
< C TT WOULD be going loo far to say that I 

: J. felt myself to be an ancient Egyptian. 
Bat I fdt a connection, an unusual sympathy," 
writes WOHam Golding, a Nobel Prize-winning 
author/whose lifelong fascination with Egypt 
tempted him in 1983 to hire a small motor 
yacht and crew to sail up the NQe River. 

For a man of 72, and his wife, it was no small 

adventure, especially because the motor and 
other equipment on their rickety vessel proved 
unreliable. In a i»"d that in many ways still is 
primitive, where one doesn’t speak the lan- 
guage, mechanical breakdowns can be mo* 
meats of hi gh drama. 

Golding, an Fji gtish writer best known for 
his novel “Lord of the Flies,” adopted a neces- 
sarily slow pace as he explored Ihe river and the 
villages on its banks from Cairo to Luxor and 
back again But, as be explains, his account is 
“about me as much as about Egypt-” 

- As a reader, voa must recognize his intent or 
you may fed cheated by what you find in “An 
Egyptian JoamaL” Sadly, there is not much to 
be learned about Egypt from iL 

Though this disappointment lingered, I be- 
gan to enjoy the book for what it is: a simple, 

' sometimes mmnang tale of one man's unusual 
journey- and how it change s him. Golding em- 
barks- as a mil dly grumpy man in a hairy, 
obsessed with a timetable. Before the trip ends 
he accepts, reluctantly, the philosophy of the 
Nile, as revealed by a member of his five-man 
crew: “He who rides the sea of the Nile must 
have sols woven of patience.” 

Whai we learn of Golding is that he really is 
a rather good-humored traveler in the face of 
adversity. Bouncing in a wagon over a deeply 
rotted road on a shore excursion, he is seated 
between two Egyptian students determined to 
quiz the Nobd laureate: 

“Our bodies were bounced six inches off the 
wooden seats at each explosion and through it 
aQ Ac questioning went on. Airborne, I heard 
the shouted question, ‘What is your opinion of 
Virginia WoolfT It was too much. I burst into 
rude but unstoppable giggles, tried to explain 
but gave up as we contained on our Brownian 
way? • 

We also watch Golding, tb* writer in quest j. ! 
of a book, thrash about Hying to find a fen*. . ■ ■ 

are heavy - but he admits on a half- 
dozen occasions thaibe is stumped. Y«« 
almost hear the sigh of exasperation: Isatoa 
M and tntA in hrine some 

how me aevii ** * tr~ . " , . . 

Pari of his problem, I suspect, is that his ! 
journey was too short, only three or four weeks, . 
i seem. It s not much time to absorb a culture 
centuries old. And by chooang to bv 
boat he isolated himself from much of the hfe 
of the countryside. Only well into his journey 
does he make earnest attempts to get off the 
boat and meet some Egyptians. . 

Golding never does come to grips will a , 
Ejsypl and in that the book must be judged w-v 

Shire- He xaa& 10 **“ himself. But 

by the time you have finished his tale, you have 
come to like the guy. and so you don t really 

^For a lesson in travel writing, Golding would 

be wise to retd one of the current masters a? it. - 

the American novelist Paul Theroux. Theroux 

Pakistan. India and Bangladesh. 

Theroux won fame as a travel writer with 
“The Great Rail wav Bazaar," a best-selling 
account of his four-month trip across Europe 

and Asia bv train. In “The Imperial Way. he 
L iniifnmr this time illustRXt- 

fheroux again plunges into the exotic hub- 
bub of the subcontinent, always with a good> >i _ 
ear for the interesting stories told by felloe- 
passengers aboard the Khyber Mail, the Simla 
Mail or the Two-Down to Delhi and other 
romantic-sounding trains. The accompanying 
photos of the people, the landscape and the 
trains are lovely, adding poignancy to the text 

The reviewer, an assistant editor of the Travel 
section of The Washington Post, is the author of 
- Jim Yetickd’s Great Getaway Guide.” . 

Monthlong ShakespeareFesdval 
To Be Produced in Shanghai 

The Associated Press 

BELTING — A monthlong festival of Shake- 
speare plays will be held in Shanghai in April, 
featuring “Hamlet." “The Merchant of Ven- Tr- 
ice," “Twelfth Night," “Othello," “The Tem- 
pest," “King Lear" and “Much Ado about ^ 
Nothing," according to the Xinhua news agency 

S -. It said the festival would be sponsored by -•'** ' 
e China Shakespearean Society and the ■ _ 
S hanghai Drama Institute. 

Shakespeare was banned during the 1966-76 
Cultural Revolution, not reappearing until 
1980, when the government allowed the staging 
of “The Merchant of Venice" and "Macbeth 
in Beijing. 


4 Afrf Bad tried “D teach himto speak ...but 


Unscramble these four Jumbtes, 
one letter to each square, to form 
four onflnary words. 


" — 1 - ' <1 WON'T' % 



nrr DR. MORGAN < TjMm\ 1 

iW t-°OK/ SIS— I KNOW ) 
.. AHD I A M/100/ BUT, ON 

L heard anything bad „> 




* GEE... I • 

REAI7 . 

By Robot Byrne 

F OR die second straight 
year, Lev: Albeit has won 
tiie United States Champion- 
ship. - 

Id the seventh round, Albert 
was putting. strong poatanal 
pressore on Walter Browne, a. 
six-time United States champi- 
on, when a blunder decided the 
game. .- 

The opinion impheitty ex- 
pressed by the retreat with 
4 . . . B-K2 is that the white 
QB. has not really gained a 
move of development since it is 
awkwardly placed at Q2 and 
will have to move again later. 
This stratagem commits Black, 
after 7 0-0, to the Catalan 
■Gambit Declined with 
7 . . .JP-B3 because accepting 
it with 7 . . . PxP is consid- 
ered to yield. White the upper 
band by 3 Q-R4, P-QR3, 9 
QxHP, P-QN4; 10 Q-N3, B- 
N2; U B-N4, winch puts obsta- 
cles in the way of Blade’s 
achieving the. freeing advance 
with ... P-B4. 

Alburt bekLback the capture 
with 11 PXP until after Browne 

M3RT/m«TC 1 1 mu on 

Postttea after Z 7 ... K-Bl 

had developed his QN with 
9 . . . QN-Q2, so that the 
preferable . . . N-B3 never 
became posable. 

After 18 . . . Q-K2, Alburt 
firmly kept the initiative with 
19 P-QR4! which forced 

19 ... PxP (19 .. . P-N5?; 

20 N-Q3); 20 QxRP, thus ex- 
poring the black QRP to posa- 
ble attack. 

On 23 . . . BxR, it may 
have been stronger for Alburt 
to play 24 Q-B6, B-N2; 25 Q- 
N67, when 26 B-BI becomes a 
serious threat. 

After 27 Q-R4, Browne had 

to play 27 . . . Q-R4, allow- 
ing 28 Q-KSch, B-Bl. White 
would have the advantage, of 
course, but a decision is still far 

Instead, Browne erred with 
27 . . . K-BI, losing a vital 
pawn to 28 BxP!. QxB. 3f‘ 
QxN. What was left was fa* 
Alburt to demoastate his fine 
winning technique. 

After 45 . . . Q-B7ch, 
Browne foresaw 46 K-Q6, Q- 
Bl; 47 Q-B5. followed by the 
quick promotion of the QNP. 
and thus gave up without wak- 
ing for Alburt to play. 





14 D-BT Q4Q 

15 NJ« IteN 



w r*jts oj5 

IB P4>K4 PxP 

10 OiMP P-R3 


a tfl b bi 

S SX Kdi Bah 



P-R4 " 
i R a«n 






Page 19 


. . By Dave Anderson 
.. York Tlmtt Strtkt . . 

■’ -.^iURJUETA, California At the Skin* Game, 
> ^ "golfers putt for big money while the spectators 
for small money. 

4 Putter McEnroe, Rallying, Outlasts Leconte in Five Sets 

. O J United Presrimamuhntd great teams for all the five sets, and The spectators gave McEnroe said McEnroe told him as they McEnroe, who has failed to win 

leraon “ifvnn don't ! ffrnffr r r^" famn MELBOURNE — John McEn- thafs important,** he said. Tm and Leconte a five-minute standing walked off the court. a grand-slam event this year and 

Semi* said, “you're going tocosura S9 " roe staged a dramatic comeback tired — John played brilliant ten- ovation after the epic struggle: Australian television stations whose last major title was 

At the Skins Game ‘TJe^sJl^&dlersaid.-fisli^mtoapodcet Monday to subdue Henri Leconte, ms. He is a wonderful competitor, “You played wonderful, you pushed back evening newscasts to U.S. Open, has beaten L< 

A ." : - V pro who had failed to make a birdie on that 
mnebdes. . 

•V* ■ . 


y. . 

> • • ■{ v, '■ 1; 


“If you don’t do something tomorrow,” the man 
said, “you're going to cost me $9." 

“Here's $10,” Zodler said, fishing into a pocket 
“Take tbe pressure off me.” . : 

' AS week, Zodler had joked about how he 
“wanted a dunce to choke far 5450,000” —the 
total prize money. But when the pot had boiled to 
$150,000 on Sunday’s 204-yard 12th hole after five 
carryovers, Zodler stroked ft 15-footer into the 
hole for a hirdSe.2. 

jmi^ang, n )wsaidlater.“IwasriM)dcedthmIhitit 
on the button. It surprised the hdl out of me. 
That’s the most I’ve ever putted foe.” 

Zodler, Iangtring, recalled putting for $10, $15 
and $20 akmsgiowmgup m New Albany, Indiana. 
“But I only had a quarter in my pocket then — . 

that’s pressure.” When heWt the Bear Creek Onb 
Sunday he. had $255,000 in his pocket after a 
$70,000 putt on the 15th bole and aS35,000 putt on 
the 18th. 

Tom Watson earned $100,000, Arnold Palmer 
$ 80,000 and Jade Nkddans $15,000. But just as the 
two previous Skins Games featured Nicklans’s 8- 
footer for $240,000 on the 18th hole last year and 
Gary Player’s 4-footer fox $150,000 on the 17th 
two yean ago, this year’s event remembered 
for Zodkr’s $150,000 putt. 

“On that 12th hole,” Zodkr said, “Arnold hit a 
great putt from 50 feet that just then 1 

dodged a couple of bullets. I got a good read off 
Jades putt, then I got another read off Tom’s. That 
convinced me my putt was dead straight. Putting 
for that kind of money, the most difficult putt to 
hit is a straight putt." 

‘Tommy Boh,” someone mentioned, “always 
said there’s no such thing as a straight putt” 

said Zodkr, smiling at the mention of 
tbe 1958 US. Open champion, “so il broke to the 
left a little.” 

At die 412-yard 15th — another carryover hole 
— Zodkr’s 20-footer (fid break slightly to the left 
for another bird. And when Nkklaus lipped out 
bis bndk'attemptfxom 12 feet, Zodler had anoth- 
er $72,000. In the Sirius Game format, each of the 
first six hoiks were worth $15,000, each d the natt 
six $25,000 and each of the last six $35 ,000. Upon 
leaving that 15th green, Zodler leaned over and 
pretended to kiss Nicklans on the cheek. 

At the 430-yard 18th, Zodkr rolled m ft 25- 
footer for another $35,000, his fourth birdie on the 
heck nine after none on Saturday. His comeback 
did not surprise anybody familiar with the c are er 
of the friendly fast talker who underwent spinal- 
disk surgery three months after having won the 
1984 U.S. Open at Winged Foot 

“I was hurting Saturday, I was getting spasms in 
my right hip,” he said. “But then I got my Uttk 
doctor bag and took that wonderful Ettiepam pill 
and I fdt pretty good.” 

With his $255,000 Sunday, Zodler leaped into 
second dace in total earnings for the three Siring 
■ Games. Nicklans is the leader with $295,000, Wat- 
son has $230,000, Palmer $220,000 and Player 

As the defending champion, Zodler qualified to 
return next year, when die event is expected to be 
held at the new PGA West course in Palm Springs, 
California; Palmer also is likely to return as tbe 
sponsor's dunce: Next year’s other two players 
mig ht be chosen by a popular balloting similar to . 
that of baseball's All-star Game: 

But for all its lemrinn, the Slrins Game has a 
weakness: None of the four golfers risk the loss of 
money, unlike any duffer who bets a few backs in 
his own dans game. Let each of the four golfers in 
the Skins Game put, say, $50.000 ofhis own money, 
into tbe pot Let him be concerned about losing 
some money, not just about how much he might 

Asked if tbe Skins Game would be as much fan 
if the gotten had to put up some of their own 
money, Zodler replied, “About the same. That 
feeling would still be there." Phis tbe anting 
fading, as every duffer knows, of maybe losing . 
your own money. 

-7 V . 


.. Atlantic Dhrtxioo 

ERENCB New Jersey 

HI. — tr .n 

. mmmwiBii 

New Yotit 

W L Pet. GB 

15 7 Mt — Milwaukee 

9 S 339 i Detroit 

U T JU 1 
7 10 .412 1 

4 14 J22 TIM 


11 1 TO - 

12 7 432 2 


oal Football League Standings 

IERICAN COHFEMMCE San Franchoo 35, WMttnotan > 

East San Diego 40, Baffato 7 


oral 9 4 0 M9 270 231 Chicago at Mlmnl 
• 4 0 M2 323 220 

>40 jta zn ms 

lb 3 10 t 23116 » TT1 

2 ii o .wo m 2* Hockey 












































San Antonia 










Pacific Dhriftai 

LA. Lakers 





rfc-ulliu nl 











Golden Stahl 





LA Clippers 





Phoenix - 





7 4 1 -OB 234 205 

4 7 0 M2 344 352 

l 4 7 0 .442 275 249 

5 10 JB5 223 315 


>3 9 4 0 .402 300 90S 

9 4 0 M2 325 275 

7 4 0 -S38 291 25» 

4 7 0 .442 359 339 

IV 4 9 0 JOB 220 302 



9 4 O M2 20V 231 

s ISO .615 SIS 221 

0 7 4 0 530 224 240 

10 4 7 0 .463 221 230 

4 9 0 JO0 23O 325 


T2 0B IJDOO 359 127 
7 4 0 530 241 200 

4 7 0 .442 247 201 

6 7 0 .442 272 301 

V 2 II 0 .154 247 371 

9 4 0 502 241 227 

bco a 5 6 515 329 201 

m 5 10 J0S 249 324 

2 11 0 .15* 342 301 

. ■ division title) 

». N.Y. dents 33 
PWlsBwoh a 
43, Houston 27 
2L Tempo Bov 0 
lb 29. LA. Roms 3 
20, PtUfckMFMo 23 
00 A indiompoib 31 
nH Atlanta 24 
Kauai Cltv 4 

NHL Standings 

Patrick DJvbfoa 

W L T Pts GF GA 
PMIoMetria » 5 0 30 115 *49 

W ashin gton 14 7 3 31 W 75 

NY tsfaMter* 10 B 5 25 00 07 

NY RaneBn 11 12 1 23 91 70 

New Jersey 9 12 1 it 77 it 

Pittsburgh • 12 3 19 07 07 

Adame DMslae 

Boston 12 0 4 20 93 79 

Quebec 12 10 1 25 05 75 

Buffalo 12 11 1 25 07 76 

Montreal II 9 3 25 99 10 

Hartford 11 11 0 22 07 09 


St. Louie 10 9 

aifceeo 0 I* 

Minnesota 0 12 

Detroit < 13 

Toronto 5 15 

Smvttw DM 
Edmonton 17 4 

Calgary 13 8 

Vancouver 9 tS 

Winnipeg 9 14 

Los Angeles 5 14 

3 23 18 84 

4 22 K 99 

6 10 85 94 

4 16 75 117 

3 13 79 183 


3 37 121 M 

3 29 103 84 

3 21 181 107 

2 30 04 117 

3 13 75 119 


SO— F ined Onto vlntU, third baae 

ULAND-Plocod Steve GraaoiL 
. *- on totaled roeerve. Act hated 
.■ .witer. 

* TS — Activated Stacy Robfabon, 
w, tram Injured reserve. 


oHoom Hacker Loam 
/ l-l’MlAf— Traded Todd Bergen, 
• idHoepod ur.d eten s enwn,faMln- 
3aw Richter, d e f ens ema n , and 


JTH-Firod Joe Yuklea football 

MeWJWCW 1 1 8-8 

Boston MH 

Reid 2 (4), Middleton (», Burrtdae (2); Sul. 
liman (•). MeNab II). mats an goal: New 
Jersey (an Keens) 7-11-3—35: Boston (an 
fe»df) 7-M4-2J. 

CaigarT 1 1 1-1 

Edme nt oe 2 3 8-8 

Messier (16), Napier (61 ,MckTovMi 3(H»; 
Krenvn (V), Lead (51, a er ttan (5). Shots or 
goal: Calgary (on Mom) 11-10-14-41; Ed- 
monton (an Lamedn, D'Amour) 5-11-7—23. 
PbHadetpMa 8 1 9—1 

wmein e g iih 

Eliott (3), SmoH (41; Howe (7). Shots ea 
goal: PhftadetPMa ten Mucnord) Vf-12-13- 
39; Winnipeg (on From) 124-12-31 


John McEnroe. U5» def. Henri Leconte. 
France, 5-7. 7-6 (7-4), 3-4, 7-4 (7-5), 6-1. 

Slobodan ZtvoUnovtc, Yuooslavki. dei. TliTl 
Mayotte, Ui, M, 6-4, M, 64. 

Johan Krlek, UA. deLJav Laaldm. 

M 4-3. 

San Antonio n M 29 21— !T7 

Portland BUB IS— 194 

Mitchell 1527 4-7 34, Gilmore M2 4-7 24; 
Thompson 6-15 55 21, Paxson 8-161-1 18. R*- 
eBve tft: San Antonio 54 (Gilmore 1S1. Port- 
land 55 (Thomocon 15). AMbtc Son Antonia 
37 (Moara 131, Portland 25 (Thomneon, Pax- 
eon. Votont tn e 5). 

Chicago 34 33 31 3B-I13 

LJL Lakers 34 21 27 30—117 

Worthy 13-18 7-7 33. AtxhH-Jabbar 11-23 54 
27; DaHev 7-15 55 19, yyootrtdpe 7-14 1-2 15, 
G«nita7-n M 15 Rehoaads: CMcdoo 41 (Ofd- 
iwm 7), Loo MtdN 54 (Luca ill. « um: 
OikagoSD (Macv6l,Las AnaetesSS (Johneon 

Sdeded College Results 


Mlddletury 79, Connecticut CoL 58 
New HamnsMra fa Bryant 72 
Phlla. Textile It, SUpmtv Rock 45 
St Lawrence 64. SL Jaropfab 9 

Arkansas M. SW Missouri 47 
Georgia Southern 94, Allen 59 
South Alabama 57, Texas 44 
□JcMtomo 91, Hawofl-Hilo 9 
Lnutstaia St 101, Howell Poeffle 89 

Rig Angle nit 

Chw nn tonskto: Duke W. Kansas 84 
ThM Piece: Ta. John’s 14. Louisville 79 
enef Alaska Shootout 
ChomWonshle: North Carolina 65. NevMj» 
Vegas 40 

ThM Ptaco: Purdue H, Artzena 74 
Hfth Piece: vnenava TLAkuka-AiKheroge 

Seroetti piece: Mleroort 8b Texa»5an Anto- 
nia <7 

United VhfMa Bank Imrltatlenat 
ClKimntbttflto : WoWo 79, VO. Coromon- 
matlh 73, QT 

TOnl Place: NJUMImlagten 82, TowsenSt. 

European Soccer 

Real Madrid & LAs Palmas 1 
Cetto 3, VaUodolld 2 
Ollan 2. Cadiz 2 
Real Soctedad T, Barcelona 5 
Betts 1. Hercules 6 
Valencia ft Sevilla I 
ESPaJM 1, Alhtotlc Ubao 0 
Santander 1, Osasuno 0 
Zmgozo ft AHettea Madrid 0 

Potato: Real Madrid 21; Barceim 20: Gt- 
ionlf; AHettco Madrid 10; VadadoHd. Sevilla, 
Atnwilc B I Bna Zaragoza 16: codh 15; Bells, 
vtdmcta Real Sodedad 13; EsnaAoWSantan- 
der. Harculei, Lai POJmas 10; Osasuaa 9; 
Cetta 7. 

United Pretrjmtnwttoiwl 

roe staged a dramatic comeback 
Monday to subdue Henri Leconte, 
5-7, 7-6 (7-4), 3-d, 7-d (7-5), 6-1 in 
the fourth round of tbe Australian 
Opm tennis chamraoushipfr. 

McEnroe came back from a 2-1 
sets deficit and was down 1-5 in die 


fourthhset tie breaker before sub- 
duing the Frenchman in 3 boms 
and IS minutes. 

McEnroe will meet Yugoslav 
Slobodan Ztvojmovic in Wednes- 
day’s quarterfinals; in Monday's 
other fourth-rounders, Zivopnovic 
defeated 'Em Mayotte of the Unit- 
ed States, 2-6, 64, 6-4^ 64, and 
Johan Knek downed fellow Ameri- 
can JayLmidns, 6-3, 64, 6-3. 

“I mD always remember today's 
match when I look bade on this 
crazy life of teams,” said McEnroe. 
“At 5-1 in the tie breaker, I was 
thinking about getting our reserva- 
tions, and wondered what rim* the 
flight left tomorrow. 

“1 was even thmiring of getting a 
wild-card entry to improve my 
grass-court game in tbe New South 
Wales championships next week,” 
he said. 

“It was a wonderful match, it 
was one erf those great matches. 
Leconte played great tennis. He’s a 
wonderful competitor, and he’s go- 
ing to finish op in the top 10 for 

Leconte, 22, was far from deject- 
ed. “I am very happy at the way I 
played. I tried hard and I played 

Hoot Leconte . 

‘ ...In the top 10 for sure.* 

S t tennis for all the five sets, and 
s important,” he said. Tm 
tired — John played brilliant ten- 
nis. He is a wonderful competitor, 
and that’s why he is the best grass- 
coart player in the world. 

“Of course Tm sony I lost But I 
had my chances, didn’t 1?” 

Primed nearly three and a half 
hours by early-morning showers 
that soaked already soggy grounds, 
the encounter was played cm an 
outside court at McEnroe’s request. 
Nearly 3,000 spectators jammed 
the 1,500-seat facility. 

Ibe two left-handers sparred 
with cross-opart drives, tnpspin 
lobs and strings of valleys as they 
sought out each other’s weaknesses. 

McEnroe, the No. 2 seed, played 
with his left upper thigh bandaged, 

. but appeared unhindered. Leconte 
showed the better control of first 
service and moved into McEnroe’s 
less lethal second defiveiy to ham- 
mer crisp, deep volleys. He brake 
serve in the eighth and 12th games 
to take the opening set 
McEnroe was also in trouble 
with his service in second set, and 
had to save three break points to tie 
at 1-1. 

Leconte broke is tbe fourth 
game for a 3-1 lead when he flicked 
a backhand crosscourt that left 
McEnroe stranded at the net 
At that stage, McEnroe was hit- 
ting on only 44 percent of his first 
serves; Leconte, serving with delib- 
eration, was keeping 61 percent in 
play. McEnroe was foot-faulted 
three times by lmesman Tom John- 

Leconte went to 4-1 cm service, 
but McEnroe came up to 24 and 
then, when Leconte double-faulted 
twice, brake in the seventh to make 
it 34. In the next game, McEnroe 
was down by 1540 but fought back 
brilliantly to 44. 

Leconte led again at 5-4, and 
McEnroe, struggling to stay in the 
niAtrfi, saved two set points in the 
tenth game and finally held for 5-5. 

At that point McEnroe, 26, was 
talking to spectators, and umpire 
Richard Kaufman issued a warn- 
ing. *T don’t want you to talk to the 
crowd anymore,” Kanfiman said to 
McEnroe as play stopped to sever- 
al minutes. The crowd, which had 
been for Leconte when he was on 
top, began chanting to McEnroe 
as the American came back to win 
the set. 

But in the third set, McEnroe 
was still having trouble with his 
service rhythm. In the seventh 
game, Leconte punched a back- 
hand paring shot that fcD just in- 
ride the baseline to break and lead 
by 4-3. Leconte held serve and, at 
1540 in ninth game, look the set 
with a aosscourt. 

In the fourth-set tie breaker, Le- 
conte led by 5-1 before McEnroe 
rattled off six straight points to win 

jand even the match, 

Leconte lost hu opening service 
of the final set and McEnroe, an- 
gling shots wide of the tiring and 
slightly demoralized 13th seed, 
jumped to 3-0 lead and ran oat the 
match in the seventh game. 

The spectators gave McEnroe said McEnroe told him as they McEnroe, who has failed to win 
and Leconte a five-minute standing walked off the court. a grand-slam event this year and 

ovation after the epic struggle: Australian television stations whose last major tide was the 1984 
“You played wonderful, you pushed back evening newscasts to U.S. Open, has beaten Leconte in 
played unbelievably wefl,” Leconte cover the final two sets. all seven career meetings. 

Washington qaartcribadk Jay Schroetfer, watehmg las fumble bomce away m Sunday’s third period. 

49ers Romp 9 Are Set for Rams 

Gmplkd by Our Staff From Dispatches 

Angeles Rams had better not look 
over their should exs. That oncom- 
ing locomotive is the San Francisco 
49ers, who are beaded for a first- 
place collision with the Rams. 

Whfle the Rams, not long ago at 
7-0, lost to the fourth time in six 
games on Sunday, tbe National 
Football League champ ion 49ers 
were trampling Washington, 35-8. 
The 49ers, who earlier this year 
trailed by four games in tbe Na- 
tional Conference West, are one 
game behind the Rams — whom 
they will host on Monday night 

. San Franciaco (8-5) came out fly^ 
ing against tbe Redskins, Carl 
Monroe returning the game’s open- 
ing kickoff 95 yards far a touch- 
down, and led all (he way. line- 
backer Reena Turner ran back a 
fumble 65 yards to a touchdown to 


help San Francisco to its fifth vic- 
tory in its last six games. 

“We’re beginning to see tbe 
tight,” said the winning coach. Bill 

“Offensively we've staggered a 
bit, but we have three games to get 
it going. The defense is there’' 

With the game still within read 
in the first half, Washington was 
inside the 49er 25-yard line five 
times — and three times inside the 
8 ■— ■ but managed only two Mark 
Moseley field goals and a safety. 

San Francisco parlayed five sec- 
ond-half turnovers into 21 points in 
handing the Redskins their worst 
home defeat since a 38-7 loss to the 
Baltimore Colts cm Oct. 17. 1965. 

The loss dropped Washington 
(7-6) to the brink of playoff efimi- 
natiom. The defending NFC East 
champions are two games off the 

Some NBA Freshmen Earning High Marks 

By Thomas Book 

Lev Angeles Times Service 

LOS ANGELES — Who is Bob 
Thornton and what is he doing 
standing next to Patrick Ewing? 
For that matter, who are Gerald 
Wfflrins and Fred Cafidd? An- 
swers: They are all National Bas- 

np, and the way he is playing it may offense, with Darrell Griffith out. of the future, land of a smallish 
take years to get him out of iL So far “the Mail Man" is deliver- John Havhcek. 

McDaniel is what NBA obe- ing, but only when he stays out of *100 Koucak, Atlanta: At 7-0 
servers call an explosive forward — foul trouble. A forward, he has and 250 pounds, Kancak is a center 
e sp e cially around the basket. He is most of his trouble defensively, but who can score, but fools a lot He 
known as a rebounder and a strong he would probably show far more if has shot nearly as many free throws 

offensive player insid e Who can they ran plays ler mm mgtrom of as t ree KoUins did all last season, 
also shoot the 15-foot turnaround for Adrian Dantley all tbe time ON PROBATION 

jumper. • Terry Porter, Portland: Do- High-visibility rookies getting 

PASSING GRADES spite haring played at a National bad grades are answers to multiple 
• AX. Green, LA. Lakos: This Association of Intercollegiate Ath- choice questions. They are in the 
forward rarely blunders, atypical letics school (flic University of Wis- detention hall because they have 
among rookies, especially one who conrin-Stevens Point), Porter gen- played barfly in limited time, not 
was the 23d player chosen in the eraled a lot of interest at draft time, played at all, played on losing 

lcetball Association rookies, they jumper. 

are all New York Knicls and they 
are all getting tbe daylights kicked • 
out of them. forv 

The word rookie normally means «mr 
equality. Ewing isn’t normal. He is was 

• AX. Green, LA. Lakers: This 

for him instead of as Tree Rollins did all last season. 
Hey all the time: ON PROBATION * 

ter, Portland: Do- High-risibility rookies getting 

therichest first-year man of all time draft. Green has been mud) more Chicago thought abouL taking him teams, made you wonder why they 
in any sport (his 10-year contract is accomplished defensively than on with the No. 1 1 pick, but he slipped were even drafted or all of the 
worth a reported $31.2 millio n with offense, again tbe opposite of the all the way to No. 24, the last pkk above: 

the first six years and $17 million 
guaranteed). Yet he’s still a rookie, 
and that means adjusting. 

If you’re a Knick rookie, it also 
means losing a lot. EveatnaBy, Ew- 
ing won’t be losing games all the 
time; hell be a star on a winning 
team. Cofield, Thornton and Wfl- 
ltins may never be stars and they 
may not last long in the NBA 

The average 1 985 rookie is mak- 
ing $300,000, the highest average 
ever in' the NBA. It’s eady in the 
season, but still it’s a good time to 
look at the curr e n t crop to try to 
measure their impact It’s been 
quite a start 


• Patrick Ewing, New Yoik: The 
top draft pkk is everything he was 
supposed to be and more; the 
Knicks are everything they were 
supposed to be and much less. As 
good as he is, Ewing; can’t do it 
alnrw. Thanhs to injuries to key 
players and some front office mis- 
management of personnel, Ewing 
represents just about the whole 
New York attack. He leads the 
team in shots, shot attempts, free 
throws, free-throw attempts, offen- 
sive rebounds, defensrve rebounds, 

turnovers, Mocked shots, paints 
and sailing average. 

Ewing has played hurt and is 
now playing tired. He has to get 
most of nis points on Ms own; he 
scores on offensive rebounds and 
on the break, because he gets out 
and runs. Bui the upside is that he 
migh t be developing faster because 
of tbe circumstances around Mm 
and because he’s about the only 
player the Knielcs have. 

Ewing’s best shot is a shod 
jumper, although Ms one-handed 
Qying-down-th e-baseline dunks 
strike tenor in the hearts of defend- 
ers. His defense at center is rated 
mud) better than most rookies’ be- 
cause he can intimidate drivers, 
block skits and doesn’t foul oat 
too often. 

• Xirier McDaniel, Seattle: It 
took McDaniel three games to 
work his way into the starting Iine- 

so there is still some question 
whether he can score one-on-one. 
• Wayman Tisdale, Inrifana - Af- 

though he air 
point guards. 

rookie norm. But his offense stag- of the seoand round, where Coach They include Benoit Benjamin of 
nated in the Oregon Stale system, Jade Ramsay snapped him up al- tbe Los Angeles Clippers, Alfredex- 
so there is still same question though he already had two other ick Hughes of San Antonio, Joe 
whether he can score one-on-one. point guards. Khaoc of Sacramento. Blair Ras- 

• Wayman Tisdale, ladbna: Af- “I was kind of a deeper,” said mossen of Denver, Sieve Harris of 
ter reporting to camp, then heading Porter, a 6-foot-3 (1.90-meter) do- Houston, Charles Oakley of Chica- 
back because of a contract hassle, fenrive whiz. “I understand all that go and Tyrone Corbin of San Anto- 
then signing, then not being in But Tm not worried. I just let it all mo, Jeny Reynolds of Milwaukee, 
shape, then not playingmuch, then happen. Well see what’s next” Kenny Green of Washington, Joe 
riot playing wdL... Tisdale has Portland is talking about trading Dumars of Detroit, Terry Catledgc 

I see what’s next” Kenny Green of Washington, Joe 
talking about trading Duruars of Detroit, Terry Catledgc 

not yet set the world (or even India- veteran DarndL Valentine to create of Philadelphia and Ed Pinckney of 

*— • 


napda) cm fire, knit's only a mat- more playing time to him. Phoenix, 

ter of time. • Chris Muffin, Golden State: EXCHANGE STUDENTS 

• Kml Malone, Utah: McDaniel Mnllin is a gnard/forward who can The all-foreign-bom team is Bul- 

maans to Seattle what Malone score but doesn’t run very wdL garian Georgi Glouchkov of Phoe- 
means to the Jazz, especially on Still many fed he is a potential star nix and — aS of Dallas — Canadi- 
an Bill Wennington and West 
Germans Detlef Schrempf and 
Uwe Blab. 

Air Georgi is sttD grounded, but 
a portion of his paychecks goes to a 
Swiss bank (only Phoenix could 
have a gay shooting less than 40 
percent and have three other guys 
doing worse). 

In Dallas, the Mavericks seem to 
have cornered the market cm for- 
eign-bom stndents. They are look- 
ing to Schrempf to become some- 
thing Hire Rid: Barry. Blah may 
never be anything more than a 
backup center, but he is 7-foot-2, 
250 pmmds and works hard. At 7-0, 
Wenrnnghm turned out to be too 
short to play center, so the Maver- 
kks are trying to make Mm a power 


• Manate Bol W a shington; The 
most interesting playa in the fresh- 
man class, judged sdely cm bow tafl 
he is (7-foot-7) and what that could 
mean if he ever weighed more than 
250 pounds; he weighed 192 when 
he was drafted and is now up to 
208. That’s not going to be nearly 
enough, the experts believe. If only 
he’d team to eat. 

• Sgud Webb, Atlanta: At the 
opposite end of the spectrum from 
Bra, Webb is 5-foot-5, which is sur- 
prising because he was listed at 5-7 
when he was drafted. Webb has 
played m every game and even 
started a couple. He averages about 

. . . . 17 minutes, almost two rebounds 

Patrick Ewing*. Everything Ire was supposed to be and more, and atewsT four assists per outing. 


pace with three games remaining. 

Raiders 32, Fakons 24: In Atlan- 
ta, Marcus Allen gained 156 yards 
and caught a scoring pass to help 
the Los Angeles Raiders past the 
Falcons. Allen tod: the league 
rushing lend (1,392 yards for the 
year, a franchise record) in his sixth 
consecutive 100-yard-plus outing. 
He moved ahead of Atlanta’s Ger- 
ald Rtegs, who had 95 yards for 
toal or 1,343. It ended at five 
Riggs’s string of consecutive 100- 
yard games. Tbe Raiders (94) re- 
main tied with Denver atop the 
American Conference West 

Seahawks 24, Chiefs 6: In Seat- 
tle. Dave Krieg passed for 254 
yards and two touchdowns as the 
Seahawks (7-6) kept their playoff 
hopes alive. Seattle's Steve Largest 
matched Lance Alworth's NFL re- 
cord with Ms seventh 1,000-yard 
receiving season and ran his con- 
secutive game reedring streak to 
120 games, third best in league his- 

Chargera 40, Bills 7: In San Die- 
go. rookie oornerback John Hcndy 
intercepted two passes, returning 
one 75 yards to a touchdown, to 
spur the rout of Buffalo. Tbe 
Charger defense, ranked at the bot- 
tom of the league, set up 17 points 
by intercepting quarterback Bruce 
Malhison three times in the first 
half. Tbe winners' Dan Fonts com- 
pleted 21 of 36 passes for 261 yards 
and three touchdowns. 

VBtings 28, Eagles 23: In Phila- 
delphia, Wade Wilson threw for 
three of Minnesota’s four final-pe- 
riod touchdowns, including a 42- 
yarder to Anthony Carter with 1:11 
left, as the Vikings roared back to 
beat the Eagles. Minnesota had 
gai ned only 67 yards rushing and 
was under 100 passing until the 

The Vikings drove 58 yards, Wil- 
son hitting Allen Rice for a 7-yard 
score, to make it 23-7. Minnesota 
cut the deficit to nine when comer- 
back Willie Teal picked up a Ron 
Jaworski fumble and raced 65 
yards for a TD. Philadelphia tight 
end John Spagnola then fumbled at 
his 36; Joey Browner recovered, 
and on third down Wilson threw 36 
yards to Carter for the third touch- 
down in a span of 4:29 to make it 
23-21. Tbe Eagles were stopped 
cold and punted to Carter, who 
returned the ball 22 yards to the 
Minnesota 40. On 4th-and-S at the 
Eagle 42. Wilson and Carter com- 
bined on the game-winner. 

“I can’t remember gong from 
zero to 28 in one period,” said Min- 
nesota's Bud Grant, a 28-year 
coaching veteran. “You can only 
get humiliated for so long" — the 
Vikings had lost three straight — 
“and then you rise up." (AP, UP] ) 

’ 86 Rugby Tota- 
lly British Lions 

United Press International 

CAPE TOWN — The South 
African Rugby Board on Mon- 
day canceled plans to invite the 
British liens to tour the coun- 
try in 1986, saying ii wanted 10 
protect the interests of the sport 
m Britain. 

Tbe board also said in a brief 
statement it made the decision 
“in order that the relations with 
tbe four home rugby unions re- 
main intact to the future.” 

While a 1986 tour by the Li- 
ons (a selection of top players 
from England, Scotland, Wales 
and Ireland) had long been 
scheduled, there have been 
fears in Britain that it could 
torpedo the Commonwealth 
Games in Edinburgh next year. 


Page 20 


AU the Little Extras 

W ASHINGTON — The old 
1 970 Super Tonga gave oat oa 
me the other day. It just gasped 
once and then died on Canal Road. 
Several impatient drivers helped 
me push it into the Potomac River. 

I wait down to Long John S3- 
vw^s, “The Largest Dealer of Super 
Tongas on the East Coast — One 
Price for Everyone," to replace my 
loss. I was sur- 
prised to discov- 
er the sticker 

price on the win- 
dow of a new 
Tonga was the 
same as what I 
had paid 16 
years ago. 

If there is one i 
thing I know it's 
how to talk to „ , „ 

car dealers, so Bud”™ 
when Long John 3sked me for 
$5,900 for a showroom Tonga I 
stared him down. 

“I'll give you $4,900.” 

“I see I’ve met my match,” Long 
John said. “That mil teach me to 
try and fool someone who lives in 
Northwest Washington. We have a 


“Can I drive it right off the 

“Of course you can. Let's go into 
this office ana m write it up.” 

I walked into the cubbyhole 
where Long John started to tap 
numbers into a computer. 

“Do you want my check?’ I 

“In a moment — " Tap, tap. 
“That will be $4,900 for the car 
and an extra $1,500 for the wind- 
shield wipers.” 

“Suppose I don’t want wind- 
shield wipes?” 

“You have no choice since they 
come with the car, just like the 
wheel Kp moldings which I also 
have to charge you for” 


“Two thousand dollars. That’s 
exactly what they cost me.” 

“I don’t like wheel lip moldings." 

“No one does. Hare’s one you 
won't object to — ibe installation 
of rubber floor mats. You get one 
free and the other one for $1,600.” 

“Forget the mats.” 

“Federal safety regulations re- 
quire all Tongas to be equipped 
with rubber floor mats,” be said. 

“What else do I have to pay for?” 

“Four tire rims to keep stones 
from bursting the gas tank. The 
cost to you is $999 per wbeeL Then 
there is the rustproof undercoating 
for $2,250, the front and sideview 
mirrors for $500, and the wind- 
shield for $2^00 ” 

“Is that it?” 

“Those are the major items, ex- 
cept for dealer car care, $ 2 ^ 00 , and 
the dealer markup which is 
$ 2 , 000 .” 

“Why the dealer markup?” 

Long John said, “That’s to make 
up for the discount I gave you at 
the beginning.” 

□ . 

“This is much mote than I in- 
tended to spend.” 

“I assure you you won’t be sorry. 
Once you own a 1986 Tonga you 
will never have to worry again. The 
Taiga has a Bve-year warranty and 
a 50,000-nriIe guarantee. Its repair 
rate is the Lowest in the industry. 
The minute you walked in I said. 
Tien comes a Tonga man. He 'and 
this car were made for each oth- 


Statue of liberty Copy 
Is Sold for $ 14^500 

The Associated Pros 

NEW YORK — A human-sized 
bronze copy of the Statue of liber- 
ty, one of several designed by Fre- 
dfcric-Auguste Bartholdi to raise 

money to build the statue, has been 
sold for 5148,500, Sotheby’s auc- 
tion bouse said. 

The figure, 4 feel, 5 Vi inches tall, 
was designed in about 1885. Nei- 
ther seller nor buyer was identified. 
Sotheby’s had estimated it to sell al 
$125,000 to $175,000. 

“As long as you put it that way, I 
guess HI take it” 

“Did you want to purchase a 
5Z500 service contract?” 

“You just told me it has a five- 
year warranty. Why do I need a 
service contract?” 

“If you have a gasket or seal go 
on you it will wreck the engine, and 
your regular warranty will leave 
you high and dry. I wish I'd had a 
service contract on the last three 
Tongas I owned.” 

“You're very persuasive, but the 
extras are killing me.” 

“Don’t give up on me, man, just 
after I stuck my neck out to get you 
a thousand dollars off on this car." 

By Christine Chapman 

T OKYO — “I did not want to use the 
term ‘suicide, 1 ” said Maurice Pmguet; 
professor of French literature at die Uni- 
versity of Tokyo, who has written a history 
of sdf-inflicted death titled ‘‘La mart vo- 
lantaire au Japon” (Voluntary Death in 

“ ‘Vohmtaiy death* impties a rational 
decision, not pathological behavior. If I 
had used ‘shade,’ it would have been a 
psychological study.” 

Choba Nemo to, critic for the Asahi 
Evening News, called the book “extraordi- 
nary” and “a work of prodigious scholar- 
ship” about the “culture and philosophy of 
modem Japan.” The British poet and es- 
sayist James Kiricup wrote that the history, 
“composed in a French of unobtrusive ele- 
gance," was the “best ever written on this 
sad subject." 

Published in Paris by GaOimard in Sep- 
tember 1984, it has been translated into 
Italian and Portuguese, and will appear in 
a Japanese edition in January from Guko- 
mashobo Co. No plans have beat made for 
an Fnglinh edition. 

Japanese Way of Death: 
A Frenchman’s Report 

contemporary culture in which violent, vol- 
untary death by warriors or lovers, com- 
mon atizeos or celebrities, is & symptom of 
society’s stress. 

“It’s a symptom of the contradictions of 
Japanese society,” Pingoet, 56, said in bis 
university office. “It’s there, it fades, it 
comes back, just as symptoms of stress do 
in an individual organism. A snirideis not 
only Japanese but hntnan. It’s not part of 
the Japanese nature but a symptom of 
malaise in the soda! structure." 

Eariy in the book, Pfoguet, who has lived 
in Japan more than 20 years, gives statistics 
showing that Japan is not the country with 
the most suicides: Hungary, Denmark and 
Austria have higher rates. But, he reveals, 
voluntary death in Japan is often a glori- 
fied, theatrical exhibition. 

From the disembowehnent of dishon- 
ored samurai in the Middle Ages to the 
poignant double suicides of courtesans and 
then 1 lovers during the Tokugawa dynasty, 
through unswerving tfatnilniw. pilots to the 
death of the writer Yukio Mi shim a on Nov. 
25, 1970, Pinguet’s cultural history is a 
drama of conflicts resolved. 

The final chapter, “The Mishima Act,” 
proves a fitting coda for the nation's meta- 
morphosis from a defeated imperial power 
into a victorious economic one. 

“Mishima wanted to take the whole past 
of Japan and throw it in their faces.” said 
Pmguet. “They received it as a strike in 
their economic befly. He rebelled not in the 
nam e of progress or the future, but in the 
name of the past, for the dead. The Japa- 
nese wanted to forget, forgive, far the past 
to be past, to live a new era. *No, no!’ cried 
Mishima. There’s a past and you must face 

“On Out,” added Pmguet, “he was 

After giving a final harangue from a 
balcony, Mishiina frilled himself, with his 
dose friend Morita, by seppuku, at disem- 
bowebnent, at the Self-Defense Forces 
headquarters in Ichigaya, Tokyo. “KBs 
death was hill of violence, bordering on the 
psychotic,” Pmguet said. It was ineptly 
done, and bloody. 

The writer’s death was in part a protest 

against the new age and also a final display 
of na rcissism hy the man who had enacted 

such death scenes in films and photo- 
graphs. P mg uet said Mxshiina's death was 
.coldly rational, even intellectual, for he had 
“acted in harmony with his decision.” 

“His sacrifice was absolutely useless,” 
Pingoet said, “but he was a figure^ impor- 
tant in the media age, when people live for 
images of themselves. In this sense only 
was Mishima a modem hero.” 

To Japanese today, Mishima is regarded 
as an embarrassment. Middle-class busi- 
nessmen and intellectuals alike “regard 
him with discomfort,” Pmguet said. 

Use suicide of the tortured writer is al- 
most commonplace in Japan: Ryunosuke 
Akutagawa, Osama Dazm. Yasunari Ka- 
wabaia also kille d themselves. In 1972, 
Kawabata, Japan's only Nobel Prize win- 
ner in literature, died quietly, masking 
what is considered a suicide as an accident 
with a gas stove. 

The most com pelling instances to sap- 
port Pinguet’s theory of suicide in Japan as ■ 
“a moral act” were the deaths of General 
Maresnke Nogi and the young kamikaze 
pilots of World War DL (general Nogi and 
his wife killed themselves in September 
1912 after the funeral of Emperor Mriji. 
Nogi had long served the emperor, most 
notably in the 1904-1905 Russo-Japanese 
War, so he decided to follow him in death, 
as loyal retainers had died with thar mas- 
ters m the past 

Japan’s secret weapon during World 
War U was voluntary death, especially that 
of young pilots. As Finguet said, translat- 
ing from his book; “Good sen, good stu- 
dent, good soldier: The young pilot of the 
Vamnrare special umi was less the martyr 
of a fanatic faith than of -Ms own good 
heart and good will. He was not a dare- 
devil not a swaggerer or a reckless feDow. 
He was serious-minded, studious and dili- 
gent; tiie well-behaved child who has al- 
ways given satisfaction to his parents and 
to his teachers.” 

Thirty and forty years later other well- . 
behaved children, frustrated by the de- 
mands of school and family, killed them- 
selves because of failure, not for country. 
Pinguet describes child suicides as “coming 
in waves.” From 1965 to 1975, according to 

Qeirina Chopmon 

Pingoet: After death, Kfe 

the bode, the number of suicides of chil- 
dren under 14 doubled, from 46 to 95. For 
min ora, younger than 20, suicides num- 
bered around 700 each year. 

Today the nation is concerned about 
yime, or the bullying of elementary and 
junior high school students. A few of the 
victims are so desperate that they attempt 
to kill themselves. Seven children under 14 
have died this year by suicide because of 
harsh bullying by other children. Countless 
others react by attempting suicide, drop- 
ping out of school or running away. 

Another modern instance of voluntary 
death is pyako sfanju, family suicide, which 
is ?not a fashion, but a permanent trait of 
the Japanese. mentality,” said PingpeL 

“It stems from the too-close relation of 
mother and child, in which the mother 
considers the child her property. When sbe 
decides to kfil herself, sbe takes her own 
flesh with her." 

Praguer's book reports that more than 
200 Japanese mothers each year “consum- 
mate this double sacrifice." In 1975 alone, 
one expert counted 494 family suicides. 

- Oyako shirtju caused the professor to 
r uminate on Marcel Proust’s sorrow over 
his mother’s death when he was 35. Writing 
to a friend, Proust said how sad he was that 
he could not die with his mother. 

. Pinguefs approach to imderatandinfi 
Japanese suicide is one of comparison an# 

contrast- The narrative reminds readers of 
ciiwiiar attitudes and incidents in Western 
culture. The bloody suicide of the Roman 
Stoic Cato in the first chapter sets the 
book’s tone, while Sl Augustine’s condem- 
nation of suicide in the 5 th century, “being 
absolutely foreign to Buddhism," points up 
the' opposing ideas of the West. 

Finguefs fascination with Japan began 
when be arrived in 1958 to teach French 
literature and civilization at the University 
of Tokyo. He taught there untQ 1963. then 
was director of the French Institute in 
Tokyo until 1968. 

T fell in love with Japan at first sight— 
with the Japanese people and their way of 
living,” he said. 

In 1968, Pmguet returned to France and 
taught at the Sorbotme for 11 years. He 
visited Japan often during that time, and in 
1975, the critic Roland Barthes asked him 
to give a series of lectures on Japanese 
avflzzationat the Ecoles des Hautes Etudes 
in Paris, Finguet lectured on voluntary 

In 1979, he returned to Japan for anoth- 
er Tea ch in g assignment in the French de- 
partment of Tokyo University, and began 
writing his book. 

“The interest of the French in Japan is 
both an old and a new phenomenon,” he 
said. “France was the first Western country 
to be interested in Japanese culture in the 
19th century. But, 15 or 20 years ago, the 
French were not interested in Japan but in 
fhina and indnrfmigse Asia. Now it's very 
different, for the French were disappointed 
in the Cultural Revolution and the Viet- 
nam War. They felt deceived by Mao and 
the Vietnamese. 

“They understand that the Japanese had 
not the dramatic upheavals but a steady 
development that puts her in the forefront 
economically and strategically in Asia.' 

Bom in 1929 in the industrial town of 
Montlu$on, Pmguet went to Fads in 1947 
to study at tbeSorbomie. In 1949, at tie 
Ecole Nonnale Superieurc, he studied 
Greek, Latin and French literature in order 
to tearfi French classical humanities. In 
1953 he passed the examination agrigation, 
which earned him a teaching post in a 
secondary school in Troyes in Champagne. 
After two years there, he entered the 
French National Center for Scientific Re- 
search to study 19th-centuiy French litera- 
ture flTiH civilization. 

Now he wants to do for Japan what the 
Greek biographer Plutarch did for the an- 
cient worid: write about the lives of famous 
historical figures. 

“I want to write biographies of impor- 
tant people as Plutarch did, of emperarc, 
generals, empresses. Buddhist nuns, how 
they lived and bow the Japanese knew of 

“Tve spoken of death; now I want to 
write of life.” 

Christine Chapman is a Tokyoiased 
journalist who specializes in the arts. 

r (Md Hollywood' Frien^j 

Honor Dutch ' Bea^a 
Old Hollywood turned -^ 
force in Burbank. California, (j, 
television special honoring^ 
dent Ronald Reagan. "We art £ 
to honor the only man from c 
community to move into 
bousing,” joked the host Frj 
Sinatra. Reagan said: “To all tfe 
who said such nice things aboot 1 
— I wish you were all membej 
Congress.” Dean Martin. Ctj 
Autry, Cesar Romero, Lib s3 
Buddy Ebsen, Fred MacM*?, 
Dorothy Lobov, June Alfa 
Virginia Mayo, Chariton Hesk 
Gregory Peck. Jimmy Stewart, jj 
Skehon, Danny Thomas andrVy 
Connors woe among the stT.yJ 
tending the “All Star Party f 
’Dutch' Reagan," to be broads 

Dec. 8. “Dutch" was Reaga 
nickname from his early days 
show business. 

i V 

Jotai M. Heckler, who was i 
voiced in February from Mugi 
Heckler — then secretary of heal 
and human services, later nan 
ambassador to Ireland — has w 
Sberyl Jean Bffls, a senior editor 
the newspaper USA Today. 

Anaheim. California, hnny » 
Disneyland, will help celebrate t 
park's 30th anniversary ceicbr^ 
and say thank you to Waft hie 
by releasing one million ballot 
on Thursday, which would h: 
been Disney's 84th birihd; 
About 3,000 schoolchildren are 
pump helium into the balloons a 
rate of 200,000 an hoar. “We fig 
it will take about 7 boms to inf] 
one million balloons,” said a i 
spokeswoman, Sheri Eriewme. 
ensure that at least a million l 
loons become airborne, 1.5 mill 
wiD be inflated. The 1985 Guinn 
Book of Records lists the Lug 
balloon release as 363,729 on N 
12, 1983, at Clemson University 
South Carolina. 

The British ringer and songwi 
ex Eftou John and his former wi 
mg partner have been awards? 
estimated £5 million ($7.3 mi’Sn _ 
in a London court action over re 
allies on more than 140 songs. T 
court ruled that John and Bor j « . 
Tanpin were deliberately undt -*■ 
paid royalties by Dick James Mir 
from 1967 to 1975, but dirnniw . .. 
John and Tanpin’s claim that tft.1 *: 
owned the copyright on the son) 




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Hie Marriage of Figaro - Few best 
seats retranm in aid of the Abbey- 
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child. Parents are inwled to bunching 
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Ltd, 23 Cofctrt Vg, London EC4R 
2ID. Trtfc fi55iO0fi Tte 884587 G. 

Awdremang inti Hexry Sdxrtz 
Mr m ik 22 m w tw. 133 for rriri 
wjjfj Wton. FBC P-Q- Box 381. 04- 
1001 Looecsine, Sxntrertend. 


& |ria mg 

WANTED IMTORTBtS for balk reat 
(chai/garei/cuthion cow/prirting 
rid. Carteet l and C, 5D AswMrt at 
St, Shgopere 0617. Too KSJBSKflC 


re-mvaong renter, nOn i nc cs . trade 

reft mewgwwm agent, al room 923 
’"•T. rtanfl ICorfl. Tbt 

report - 12 countries o nri ynd. De- 
iST VW4A, 45 Lynhnr Ttrraat, 
Suite 563, Central, rfe«s Kong. 




UtrilMflB) IK. 

A cdm p fcte personri & bueinew 

5SH?vSS8 C Sfcrt- 

miwluris far id soori 
praraODond o c cniK ita. 
330 W. 56<h St, N.Y.C 10019 
Service Rmresantabm 
Needed Worldwide. 



*r > ^ M b«y-. 

fine dmencs ui any pre» mnae 
ri towtert udiofcsrie prices 
tfred from Antwerp 
renter af Ihe efiamond world. 
Frit guawdM. 

For tree price Srt write 

.EdriMed 1928 

PeBtaantxrt 62J B-2018 Antwerp 
Bririan • Tefc {§2 a, 234 07 51 
Hn 7T779 eyl b. AMhe wmnd Oob. 
Heat of Antwerp Diamond industry 


F ndrey ados of loaee'at t fa i t at th 

lane He re rt ab e s lr 29, Antwerp 
Belgium. Tel: 03/2327203. Ac 35243 




• Offian/Managanenf Services 

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Brttene re Serins C e nseft Cera. 
Briuthofstratte 32, a+iSS^wfli 
Tefc 01/211 92 07. Tfco 813 0S2BSC 






■ cgmubkxioom; ■ 

IE SATHUTi, I ree Cnpamk 
“ 4727 1559. 

751 T6 tafe T«t(1J 



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6 Yot w tamari or permoneri bare 

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. Dame 
• Phone, i 

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neS, teto to 


Tel (1 1 43J9J7JJ5 A Tbt 642T87 f 

Teb (22) 4M0H^421B1t CH 
T1 (69)710 5So!Sl76997163 D 

errarct moSxK, ■!« 34H/aay.. 
Tefc PAT: 460995 95. -- 

IMPETUS e.ZmCH *252 76 21. 




young lady or nurse French mother 
tagoe, aroriaU* to travel wdin Eu- 
rope to look after their doumr (8 
mortiej. Aaconmodatian in Geneva 
nor provided. Tefc Hanoi PZ2/2B6411 


35 YEAR OU) NAIME/Goraraesi 
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■artaeriairi a 

toorait aid 

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4577 3861 eves. 



PBMEOY SOS Sn 1981, 76flOO to! 
jAteosmri c windows. Sonroof. Brige 
Ml llll ID I I t un 4331 9297 



PARS (1) 42:25 64 44 




leave rf to us to fating 8 to you 

[39 43 44 
071 00 ST 
10 45 


lUBh BSMtoR 

LanboroHm" Gbwtadl now. Fenai 
30B GTB raw. P.CT. Belpa Tefc 




The Mwcedes Speddist 

Stretched Unwanes 
Annourad Ctu . 
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100 Unte '■ Stock 
' Direct from Sources 
Worldwide Defcnsy. 

65^7 Pafc Late, Instdon W.l. 

Tefc M4J T - 6297779 
Trie* (5118956022 Tna G 

Geneaiy - London - Swit e edari 


tor 20 

T98S Med* rtEfcmnt 

280 SL280 SB. 500 
500 St, 500 sec 
1986 Medeb ton Stock 



0-6000 KAMCRRtT/M 

TH; j||^69-73 30 6T 

r 414018 




Wtribyovere a Europe, we can offer 
ca aderabh swings an brand new 
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hrt today wrarty. 

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drhte tar free BMW s of tourer prim. 
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proerf BMW* end the AJpina BMW 
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If ee r i no n mnitn ri itiirlr nf mnrr threi 
300bnadnuwoaicrqlEwopeon + 
Japanese nato oonpriiveiy pioed 

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SA, 95 Neowtelarey 

2030 Atomre Behran 
Tri 323/ 542 62407x352071 


Avahbh aowrf 


Monte Gario 
PrropcAy of 
TSW50 64 84 
Tain 469475 MC 
Offidd (fired factory dealer 
Estobfahed store 1925 

9TT PORSCHE Carera Cobrio, red 7 

500 SE nautic bbe/^ay leather, 
tended DM85.982 
500 SL red/bladc leather, 
loaded DMMJH5 

Co* W. Gertnan* «074\ 1971, 
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Abo avakririe - severri Rob Boyces 


CoS or write for free asriog. 
“ : 12011 

i Airp ort. He iand 

TriJDI irfSa 77 
Trfc»25Wl HCAR NL 


The 1986 Em fo r is now avrifabfc. 
The mart hmnaus ever buQL Comoly 
daxL3Q5 CL enrine or the Kgh Output 
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(33) 93 25 74 79, tefc 479550 MC 

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ENGUSH teriher toogw 
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- Word processor BtANK XBOIC wff 
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69 Bd Hnntnxnfc 73008 . 

J MOrHa-TONGUtiecre- 
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■ in iw ii ■l~ii 


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Eng&rfi. Beigicn. Dutch -or Gennan 

— — — In. a Jwi li.a nf C • - 

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qunei L ggBdi 

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rani, France. Tab 

tefcxjris. Wrtegr riipne: 138 Avenue 

73T16fiarii, _ 

fil VSff 

I 69- 


young pertoahorinfl aymai i mtely 3 
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prtrforrod, Pfaraari aawnmri. 
fleaM.vmtovrth CV. toi Mrs. Afcrai 

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m Paji. French mother tongue, good 
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MTL COMPANY, world leader in its 
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manager. Heart Frereli & KnriU. 
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HreaU Tribune. 92521 

to Box 2945, 

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‘nvoughaut rfte world we etrodua efi- 
ente to fi^daa ucretaire whoH Ka- 
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moaghly tested If you are an ere 
payor, cortoctui for the best advice. 
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internatknri Secretones 
174 New Band Start, London WI ' 
Tefc 01-491 ^100 
fecroibnart Onuhrerts. 


IW 47M 12 40 


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Dm safari way to impart a 
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provide s iri requred vena, 
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Hfc 322234 20148W 


reservolian authorized wrtto* 
3 days prior to departire 




from Luxembourg 

(tee way - abort U5S ’C 
(DM 499, BHt 99W& 

(DM 499, BR 999(70 
(5R 449, mi 1590} 

and Trip (7-21 dm) - 
«t U5S 4lQ (DM 999 
1,980, STR 399, HR 3 

(BR 19,< 

ORLANDO awe way about IBS 
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For further tofiracrion and 
Fraifurt P491 29 99 7- 

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Priris {1) 47 42 52- 


New York RSo3T P2Y- 

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gta) FI 590 F34 • 

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Oriondo PE?0 F34 . 

Mas F343D W 

Mwrtred FI 890 F»*-- 

and mem desttoaftora - ' 

_ 1SK (fnourd an 1st dan 
PARIS tefc (1) 42 21 46 9 
(Cor. lie. 1502) S. 

TO IAX/5FO drriy departure 
Hwope return 5489. Abo 1 wr t. 

rther US dertirertioni. Pais 4225* L k 

HOLIDAYS & TRAV]'i\ ( ^ 

«IAS YACKTMG. Yodn Ora, 
Acadeauai 28, Athens l0671,Qra | 


PWE MJC CA8PCIS (Herafe Tl. 

^of^S npretof ' : 


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Tribune reader ow&v 

Imprim&por Offprint, 73 me de FEwngjle. 75018 Paris . '