Skip to main content

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

See other formats




The Global Newspaper 
Edited in Paris . , 
Printed Sijmiltaneousiy. 
in Pam, London, Zurich, 

H< 

'FhefiaKueand 


INTERNATIONAL 



Sribunc 


■J rjf^ ^ WEMHER DATA APPEAR ON PAG£I6 


31, 977a 


Published .'With The New York limes and The Washington Post 


«gmn_— *BH*i braLr-LS.l.aOa! NDmor-JfiON*. 

tow 70S tx*. l.TOObiO** — WUJ***>, 

Un^-USh to*<A Wbc. 

M j n 45th. sh. IOXO .iSOInh 

Cow*, — cji» 7ZL 
Cnw. aw 

D-w^-MOD*. ”"—T^ Sf» "OP** 

_175 r. U »* a 7— S-to— 7*Sfc. 

40 FM l— "toj-ASLft. 

,4J00F tom lOSfat Tmfl oiSfiDw 

Cmm»„ZS0DM «*> T£ dXffl 

Giutoa— SOP. Maocax <40 DK UAf **a Drh 

Cram 100 Dr. »M«*-WR Hi Ml fEafJ_J0R5 

in* MSB* Nfeona 170ft — 7«& 


®W»- 


F>ma- 


50/85 


: ** 


PARIS, WEDNESDAY, DECEMBER 11, 1985 


^SS^f»^ySHED 1881 




.h£*i2 

inmate 

s. ■ • . • • - 


*2* v 


lestricts 


^ShinaPact 

pC^Nuclear Trade 

^r^Cast in Doubt 

* <k - 




T ‘ 1 • 


By Amendment 

By Joanne Otnang 

t s ' . _ WasUagtem Post Service 

«* WASHINGTON — The Senate 
ir^as voted unexpectedly to attach 
1 'ivi 5 ^'-rictd' conditions to the nuclear 
r - •■> 'z-^'ade agreement, with ffrlwr that 

- ^ as scheduled to be pot into effect 
-*_ r " ns week, casting doubt an wheto- 

the Chinese would stand by the 
, '•* s*ct 

. % v 4 i Offered by Senator John Glean, 
-£ja Ohio Democrat, the amendment 
.' ; 2 the government pending bill 
~ ,-ill under debate would require the 
tif reddest to certify that materials 
~ >'• l».jld to. or bought from, China are 
■' ^ Af^ibject to International Atomic 
■"-* ^-jiergy Agency safeguards against 
ss.i 2 .jic spread of nuclear weapons, A 
:;,.ioboD to IriUQ the amendment 
• '• sidled on a 59-28 vote. 

[The Reagan ad mini s tr ation said 

- uesday that the Senate action 
„ t „ . " Mild damage relations between 

- United Sates and Qmu» and 
it back progress made on China's 

Attitude toward nuclear prolifers- 
'■on, Reuters reported from Warfi- 
. /f^’igon.] 

V ^■. The safeguards issue has been 
. 'Xsjtralto ih e controversy that has 
" : f-‘ngged the pact since it was ini- 
; ■ nated by President Ranald Reagan 

~- r -- curing his visit to Beijing in April 
- -984. 

- * The agreement sets up the legal 

■ iiachinery with which die U.S. nu- 
;i;lear industiy may bid for a share 

-‘ : J the S6 billion that Onna plans to 

■ __pend oh nuclear power-plant oon- 
iv .\tiniction. 

:i . However, it idles mainly on ver- 
al assurances from the Chinese 


' '1. 

•'» '..IX . . S-! vS ' . \.f • ’A. 

■ - j 

, .* -Urn W 

• •• A' t:-: 'I- 

••> * 



laiiil 

. f ■ 


■‘S-. 'l-fj • 

>v, - 



^ -rb 


John Glenn 

that nuclear proliferation will not 
occur. 

The Reagan administration h« 
opposed die imposition of new 
conditions on the accord. 

The Senate Foreign Relations 
Committee approved the agree- 
ment last month after adding quali- 
fying language putting the Hilnew 
on notice that their use of U.S.- 
supplied materials would be closely 
monitored. Mr. Gknn said that 
was not enough- 
“If we don't put safeguards into 
this arrangement with China,” he 
told the Senate, “the United States 
wffi be sending a message that the 
international safeguards system is 
tougher than it needs to be. That 
message will be greeted with joy by 
countries like Iraq, Libya, South 
Africa and Pakistan.” The four na- 
tions are thought to be developing 
nuclear weapons. 

Senator Charles McC Mathias 
Jr„ a Maryland Republican, spoke 
at length against the amendment, 
which was considered on short no- 
tice. “I suspect this win be fatal to 
the proposal,” he said. “I think the 
(Continued on Page 2, CoL 7) 


In Sell-Off 


Further Drop 
Expected After 
OPEC Accord 

Compiled tyOivSttf Pram Dupd&a 

LONDON — Grade ail prices 

fell sharply again Tu esda y foflow- 
mg an agreement by OPEC oO min- 
isters to forsake th&Iongtttandmg 
policy of maintaining .oil prices 
through production curbs in favor 
of pursuing a “fair share” of the 
world market. 

The statement, implying that .the 
Organization of Petroleum Export- 
ing Countries would sell oil at any 
pace to hold or grin market share, 
triggered a frantic sdloff in wodd 

The pound dropped on foreign 
exchange markets azmd fears of 
an oil price war. Page 15. 

oil markets. as traders sought to 
protect themselves from the conse- 
quences of a price war. 

In London, prices of North Sea 
a3, the principal competitor for the 
light erodes produced by OPEC, 
were down nearly $2 a barred laic 
Tuesday, hririgfog the total decline 
since Monday’s announcement to 
S3 a band. 

Cargoes of Britain’s ben chmark 
Brent crude for January loading 
were quoted in London late Tues- 
day at $24.75 a barrel down from 
Monday's dose of $2650; while 
February contracts fell to $2355 
from S25.8S. 

Prices of the Middle East and 
U.S. grades also tumbled at the 
bade of North Sea prices. On. the 
New York Mercantile Exchange, 
prices on all aude contracts for 
future delivery dropped the daily 

(Continued oh Page 15, CoL (Q 



AuocMMd Prau 

Dr. Yevgeni Chazov, left, and Dr. Bernard Lown after receiving the Nobel Peace Prize. 

Nobel Winners UrgeNudear Test Ban 


By William Drozdiak 

Wathinglon Post Serrice 

OSLO — The Soviet and Ameri- 
can co-chairmen of Internationa] 
Physicians for the Prevention of 
Nuclear War accepted Tuesday the 
Nobel Peace Prize and implored 
their governments to stop all nucle- 
ar explosons as an initial step to- 
ward ending the arms race. 

"From this world podium we call 
upon the governments of the Unit- 
ed States and the Soviet Union to 
agree to an immediate mutual mor- 
atorium on all twrfgar explosions 
to remain in effect until a compre- 
hensive test ban treaty is conclud- 
ed,” said Dr. Bernard Lown, pro- 


fessor of cardiology at the Harvard 
School of Public Health. 

Dr. Yevgeni Chazov. who is a 
Moscow cardiologist and the Sovi- 
et deputy health minister, de- 
scribed a “prescription for surviv- 
al” This included a mutual test 
ban, a freeze on the size of nuclear 
forces, a pledge by each superpow- 
er not to be the first nation to use 
nuclear weapons, and a hall to the 
development of space-based arms. 

The eventual goal would be the 
dimmation of nuclear weapons. 

. Dr. Lown said that the 135,000 
doctors and health professionals in 
the movement believed that the 
perpetuation of nuclear testing had 
“a central role in the development 



:*=.«e 


;^T. :»3 


Lessons in 


By Axel Krause 

- - Iiuermaiaiat Herald THbune 

BRUSSELS — Japan produces 

, early 80 percent of the world’s 
PA&ideocassette recorders, motorcy- 
cfljliles and cameras, about half the 
ru * /orid's ships and a third of its 
CLASutomobiles and semiconductor 
leclronic parts. 

• ^ Japan continues to rebuff efforts 


they are by no 




Second of two articles. 


• 3 open its markets fully to imports 

: ' i I *• imiKtinmn fnrtm ihft WkI 


investments from the West 
„ y. K sr Japan wiU see its merchandise 
. ade surplus with the European 
. ; iommunity rise this year to a re- 
-r^ord $12 billion, roughly double 
^’Vie surplus Eve years ago. 

^ Japan is stepping up foreign m- 
. . ;-r/^ ■ estmenta to circumvent growing 
' ■ rade barriers in Western Europe 
':-c;ad the United States, and Japa- 
ese companies and banks are be- 
.. --ig warmly welcomed wherever 
. ■'ley choose to move. 

Mare and more; Europeans are 
siting: Can Jraan be kept from 
jllways winning? 

The answer is "yes.” but an ex- 
J, einely qualified “yes" based cm 
‘factors. 

First, businessmen, analysts and 
'oho dans interviewed' in recent 
leeks note that many of the advan- 
|)ges Japanese companies have tra- 
ItionaDy enjoyed at home are 
low wages, an underva- 
cnrrency and strong pro tec- 


KTAtf . 

, ."fvofac 
j \\ First 

1 | . V- ' oBtiiti 

{ft IS 

JOding: 


Japanese wages have risen rapid- 
• to the equivalent of $9 an hour, 
ad now are higher than wages in 
' ritain and about equal to those in 
ranee. The yen has strengthened 
early 15 percent against the U.S. 
altar and 4 percent against the 
Deutsche mark since August. Fi- 
illy, there are signs that sane of 
paa's irate barriers are begin- 
ng to give way to Western pres- 


sure, 

means crumbl 

Second and more important. 
West European companies and 
governments are applying what one 
official terms “bootstrap methods 
— learning to puB ourselves up." 
These methods are mainly drawn 
from Japan itself. 

“We have looked at the Japanese 
experiment dosdy, and now we are 
hitting back at the Japanese by us- 
ing Japanese methods,” said Hans 
Tuyt. a senior official at Philips NV 
of the Netherlands. Western Eu- 
rope’s largest elect r onic s company. 
“In our industry," he added simply, 
“we want to survive.” 

With increaring support from 
their governments and the Europe- 
an Commission, the executive 
branch of tbe EC, West European 
companies are becoming more 
competitive with Japan. Their ag- 
gressive corporate strategies in- 
clude investing in Japan and fam- 
ing joint ventures with Japanese 
companies. 

But Western Europe has a long 
way to go, compared with Japanese 
efforts to penetrate Western Eu- 
rope. Industry and government 
sources cite tbe following lopsided 
picture: 

• Japanese investments this year 
will reach tbe equivalent of $85 
billion in Europe and well more 
than $20 biOion in the United 
States. Last year, EC investments 
in Japan rose by $117 million to a 
total of $825 million. The EC total 
may rise to just under $1 billion 
this year, far less than the $3 billion 
in UJS. investments in Japan. 

• About 100 EC-based compa- 
nies, banks and geographic regions 
maintain offices in Tokyo or other 
major Japanese cities, and employ 
about 1.900 people, according to 

(Continued on Page 5, CoL 1) 



Prote^ers in Buenos Aires react to the news that four former junta members were deared 
on charges related to the disappearance of thousands of Argentines during the late 1970s. 

Verdict in Argentina Called Likely 
To Prolong Debate on 'Dirty War’ 


By Bradley Graham 

Washington Port Service 

BUENOS AIRES —The prison 
terms and acquittals -that a civilian 
court has given to nine former Ar- 
gentine military leaders, observers 
here say, is likely to prolong rather 
than end a divisive national debate 
over who should be judged for 
crimes committed by tbe armed 
forces during Argentina's war at 
leftist extremism. 

' Tbe federal appeals panel which 
announced its verdicts Monday, 
left open the possibility that Iowa* 
ranking officers also would be trial 
for their involvement in what is 
widely referred to as the “dirty 
war” of tbe late 1970s and early 
1980s. 

Tbe court said it would be for- 


warding the massive documenta- 
tion collected in the eight-month 
trial to tbe country’s lop military 
court 

Its statement was found encour- 
aging Tuesday by federal prosecu- 
tors and human rights activists who 
were otherwise upset by the rela- 
tively mild sentences handed most 
of the defendants. Tbe material the 
court said, would assist in cases 
against other militar y commanders 
who had “operative responsibility" 
during the repression. 

While the judges did not exp tidi- 
ly say they favored trials of addi- 
tional military personnel this was 
widely inferred by observers from 
tbe transfer of evidence. 

“This ruling wiU not close the 
chapter on investigations," said 


Emilio Mignone, who beads tbe 
Center for Legal and Social Studies 
in Buenos Aires. “It will do just the 
opposite — prolong them indefi- 
nitely." 

Defense Minister Roque Carran- 
za. the only senior government offi- 
cial to comment publidy so far on 
die verdict, said Tuesday that tbe 
court's decision marked the end of 
one stage and tbe beginning of an- 
other. 

Gabriel Moreno Ocampo, a dep- 
uty prosecutor who helped argue 
tbe case against the tune former 
junta member^ observed approv- 
ingly that the judges had confirmed 
the existence of “a criminal plan 
systematically applied” by military 
commanders. This, be said, would 

(Cootimied oo Page 4, CoL 6) 


J gypL Israel Appear Close to TabaPact 


% 


s By William Claibomc 

/ Washington P/pn Service 

JERUSALEM — Israel and 
- gypt moved closer Tuesday to an 
reonent on the disputed Taba 
achfnont in tbe Sum Peninsula, 
Lsing hopes for early resumption 
• normal relations between the 
t) countries, senior Isradi sources 
id. 

j jA compromise agreement at 
■roAtu Dc ^ a b° n and arbitration of the 
T pP ritorial dispute could be reached 
negotiations that are scheduled 
end Wednesday, Isradi govem- 
mt sources said. 

- Ibe bead of the Israeli ddega- 
n, Avraham Tamir, director- 

- xeral of the prime minister’s of- 
3. was more guarded in' his 
essment, but be said, “If you adc 
whether Fm optimistic, Fm op- 
listic." 

Taba remained under Israeli 
Hrol after Israel completed its 

.1 ■ 


withdrawal Cron tbe Sinai Peninsu- 
la in 1982; tbe Egyptians main- 
tained ii should have been returned 
with the rest of the territory occu- 
pied by Isradi in tbe 1967 war. 

Resolving the dispute over the 
on 


the Gulf of Aqaba is „ 

Prime Minister Shimon Peres as 
c rucial to restoring full relations 
between Israel and Egypt and pav- 
ing the way fa a summit meeting 
with President Hcsni Mubarak of 
Egypt. 

It is also regarded as essential 
before Mr. Mubarak actively joins 
the initiative fa peace talks be- 
tween Israd and a joint Jadanian- 
Palesuman delegation. 

Egypt withdrew its ambassador 


test tire kilting of hundreds of Pal- 
estinians in refugee camps by Leb- 
anese militiaman allied with load. 
I: suspended the Taha talks in reac- 


tion to the Oct 1 Isradi dr strike 
against the Palestine Liberation 
Organization headquarters in Tu- 
nis. 

Mr. Mubarak said Sunday that 
he would reinstate the Egyptian 
ambassador to Israd and meet with 
Mr. Peres when the Taba issue was 
resolved. 

Isradi offinalx said a break- 
through in the talks came with 

Epi 

the 

bjrani,. _ , 

policeman in October m die 
resort of RasBurka. 

Mr. Tamir said Tuesday dm fu- 
ture scanty arrangements for Is- 
raelis traveling to the Snai would 
be dealt with by the Joint Isradi- 
Fgvp rian Commission formed with 
the 1979 Camp David peace ac- 
cords. 

Israel's ambassador to Cairo, 

(Contumed oo Page 4 CoL 7 ) 



Abdel Halim Badsni, left, head of Egypt's delegation to 
talks on Taba, with Avraham Tamir, his Israeli counterpart 


Testimony 
By Hick Is 
Questioned 

By Warren Getler 

Internationa] Herald Tribune 

FRANKFURT — Opposition 
members of a parliamentary panel 
investigating the Flick bribery 
scandal said Tuesday that their re- 
port to parliament next month 
would contain questions about 
statements made by Friedrich Karl 
Flick on his posable involvement 
in the affair . 

Mr. Flick, in testimony last 
spring before the special Bundestag 
pand, denied involvement in al- 
leged attempts by executives of the 
Flick industrial group to influence 
party and government decisions 
through fi n a nci a l payoffs. 

Payments allegedly were made to 
the party treasuries of the Christian 
Democrats, die Free Democrats 
and the Soda! Democrats. 

Mr. Flick, a billionaire industri- 
alist, faces no charges. 

He agreed last week to sell his 
financial e mpire to Deutsche Bank 
AG for 5 billion Deutsche marks 
(about $2 billion). 

A forma senior Flick executive. 
Eberhard von Brauchitsch, and two 
forma West Goman economics 
ministers, Otto Lambsdorff and 
Hans Friderichs, are standing trial 
on tax evasion and bribery charges 
linked to the alleged efforts by the 
Flick company to obtain lax ex- 
emptions on capital gains. 

Peter Strunk, one of four Social 
Democrats on the Bundestag pan- 
el asserted Tuesday that Mr. Hide, 
’in many of his statements before 
the pand last spring, deliberately 
played down his own participation 
in the payoff affair and attempted 
to hang it all on Flick manager 
Eberhard von Brauchitsch." 

Mr. Strunk said that in testimo- 
ny before tbe pand, Mr. Bide ac- 
knowledged having presented 
Franz Josef Strauss, the Bavarian 
premia, an envelope of money. 
Mr. Strunk said that was one of 
several indications that Mr. Flick 
bad a more direct role in the affair 
than he at first acknowledged. 

Otto Schily, who represents tbe 
Greens party oo tbe 1 1 -member 
committee, added: “1 and other 
members of the committee believe 
that what Mr. Flick said to tbe 
panel was not the full truth, that his 
statements were not^ very accurate.” 

Mr. Schily said it was conceiv- 
able that Mr. Flick could be inves- 
tigated, fa having made false state- 
ments to the special pand. 

But Friedrich Bohl a Christian 
Democrat, said that he and the five 
other roonbers of the ruling coali- 
tion on the investigating committee 
were convinced that Mr. Flick's de- 
nial of involvement in the payoff 
scandal was “fully credible." 

He said the six pand members 
saw no reason to challenge Mr. 
Flick's testimony. 

Mr. Strunk said that Mr. Flick’s 
unexpected sale of his industrial 
empire “may reflect a desire to 
keep the Flick name at a Iowa level 
of public interest.” 

Mr. Flick cited tax burdens and 
concern fa tbe company's overall 
future as his reasons fa selling it 




r s 

Must .Alter Stair 
To Join Talks 


of new, more sophisticated and 
more destabilizing weapons.” 

“A moratorium,” he said, “is ver- 
ifiable, free of risk to either party, 
simple in concept yet substantive, 
has wide public support and is con- 
ducive to even more dramatic 
breakthroughs.” 

The two doctors, who saved a 
Soviet journalist’s life Monday by 
performing emergency treatment 
when the man suffered a heart at- 
tack at a news conference, received 
the Nobel Prize on Tuesday at a 
formal ceremony in the main hall at 
Oslo University. 

Dr. Lown and Dr. Chazov co- 
founded the anti-nuclear group in 

(Continued an Page 4, CoL 6) 


By John M Goshko 

Washington Post Service 

LONDON — George P. Shultz, 
the U.S. secretary of state, said 
Tuesday that the Palestine Libera- 
tion Organization “excludes itself 
as a player” in the Middle East 
peace process and cannot expect to 
gain international acceptance while 
n refuses to accept Israel's right to 
exist. 

“The PLO is not entitled to any 
payment in advance so long os it 
rejects what are the basic premises 
of the peace process," Mr. Shultz 
said in a speech that focused on 
what he railed “tactical differ- 
ences” between the United States 
and its European allies over issues 
in such regions as the Middle East 
and Central America. 

Emphasizing what be described 
as “the relation between power and 
diplomacy," Mr. Shultz cited the 
U.S. refusal to deal with the PLO as 
an example of how tbe Reagan ad- 
ministration seeks to encourage ne- 
gotiated settlements of disputes 
“by denying success to those who 
sedc radical solutions." 

“Unlike some of our European 
friends," be said, “we fed that ges- 
tures toward the PLO" while it has 
not accepted United Nations Secu- 
rity Council resolutions guarantee- 
ing Israel's right to exist “only mis- 
lead its leaders into thinking their 
present inadequate policy is gain- 
ing them international acceptance 
and stature." 

In his remarks to the Pilgrim 
Society, an organization dedicated 
to friendship between the United 
States and Britain, Mr. Shultz ar- 
gued that willingness to negotiate 
fairly but from a position of 
strength is accessary “whether we 
roeak of Israel or our friends in 
Central America, or in Africa or 
Southwest a Southeast Asia." 

He acknowledged that it is in 
applying this approach that “we 
and our European friends have oc- 
casionally had tactical differ- 
ences." 

Although he did not say so ex- 
plicitly, Mr. Shultz implied ihnL tbe 
Reagan administration plans to re- 
sume aid to guerrillas fighting tbe 
Marxist government in Angola and 
that it alro may be preparing to ask 
Congress to lift the restraints on 
UJS. assistance to insurgents fight- 
ing the Nicaraguan government. 

He said: “Sometimes help may 
be better given without open ac- 
knowledgment; coven action has 
been pan of the arsenal of states 
since time immemorial providing a 
means of influence short of out- 
right confrontation. We should be 
prudent, realistic and always cogni- 
zant of the political dimension of 
the problem. Nevertheless, the fac- 
ta of power is inescapable.” 

Earlier, during his night here to 
begin a six-nation European visit. 
Mr. Shultz told journalists aboard 
his plane that hie would not com- 
ment on administration plans fa 
covert action in Angola or Nicara- 
gua. But, using language that is 
regarded widely as a code fa co- 
vert activities, he added: “Whatev- 
er we do in either place, we want to 
be effective.” 

Addressing another issue that 
has caused controversy in Europe, 
Mr. Shultz masted that President 
Ronald Reagan’s Strategic Defense 
Initiative, a research project on 
ways to intercept offensive missiles 
in outer space, is relevant to West- 
ern Europe's security. 

Last week Britain became the 
First of the North Atlantic Treaty 
Organization allies to join the SDI 
research program, and Prime Min- 
ister Margaret Thatcher’s decision 
to associate ha government with 
the prpject has generated consider- 
able dispute. 

Calling SDI “a conceptual leap 
into the future,” Mr. Shultz said 
that if it proves feasible, “it will rest 
defense policy on a kind of mutual 
assured security instead of mutual 
assured destruction." 

“It can only enhance tbe credi- 
bility of America's pledge to risk its 
own safety on behalf of yours." he 
said. 


-;V; 



George P. Shultz 


U.S. Weighs 
$30 Million 
For UNIT A 

By David B. Ortaway 

H'cihtrrgion Post Serna? 

WASHINGTON —The Reagan 
administration has tentatively de- 
rided to provide less than S30 mil- 
lion as the first installment of a 
covert aid program fa rebels fight- 
ing the Marxist regime in Angola, 
according to administration 
sources. 

Disbursement of the aid. howev- 
er. has been delayed until at least 
January because the Slate Depart- 
ment hopes to use the threat of U.S. 
backing for the rebels to pressure 
toe Angolan government into nego- 
tiating the withdrawal of 35.000 
Cuban troops in Angola as part of 
a peaceful settlement in southern 
Africa, toe sources said. 

, Although a White House official 
jiifEca'ed that no formal authoriza- 
tion of covert aid has been issued, 
other administration sources said 
an informal decision was reached 
at an inter-agency meeting in mid- 
November. 

A source said the program would 
initially involve nonletoal aid fol- 
lowed by military assistance for the 
National Union fa toe Total Inde- 
pendence of Angola, known by the 
acronym UN IT A and led by Jonas 
SavimbL 

This source said toe Centra) In- 
telligence Agency had proposed 
providing an initial aid program of 
about $15 million, half toe S30 mil- 
lion figure being discussed in ad- 
ministration circles, and a fraction 
of the $200 million to S300 million 
suggested by some officials. 

Secretary of State George P. 
Shultz, according to congressional 
sources, has effectively lobbied to 
kill several congressional proposals 
fa $27 million in humanitarian as- 
sistance or in overt military aid. 

Within the administration. Mr. 
Shultz also has blocked the last step 
in the inter-agency process leading 
to a formal presidential finding in 
favor erf covert aid. 

Mr. Shultz has used toe threat erf 
U.S. rid to UNIT A to pressure toe 
Angolan government into further 
concessions on a withdrawal time- 
table fa toe 35,000 Cuban troops 
stationed in Angola. That issue is 
central to U.S. strategy for break- 
ing the impasse in negotiations for 
toe independence of neighboring 
South African-administered South- 
West Africa, or Namibia. 

On Nov. 27-28. Assistant Secre- 
tary of State Chester A. Crocker 
met for the first time in five months 
with Angolan negotiators in Lusa- 
ka, Zambia. More U^.-Angotan 
talks are planned, probably lata 
this month. 

Mr. Shultz is believed to be seek- 
ing South African and Angolan 
support fa a de-escalation of the 
fighting in Angola. 


INSIDE 



■ Slovenia and Croatia have 
protested subsidizing poorer 
Yugoslav republics. Page 2. 

■ A historic U.S. soil conserva- 
tion plan was tentatively ap- 
proved in Congress. rage 3. 

■ The United Automobile 
Workers is struggling to orga- 
nize a Honda Motor Co. plant 
in the Untied States. Page 5. 

■ New prosperity, intrigue and 

the official dirmnation of mi- 
norities mark the regime in Bul- 
garia. ■* — n — - 


Willy Brandt, former 
West German chancel* 
lor, was criticized over a 
risit to Poland. Page 2. 


BUSINESS/FINANCE 

■ Union Rank of Switzerland 

said it would acquire a Frank- 
furt bank. Page 9 . 

■ U-S. purchasing executives 
see improved economic growth 
and moderate inflation in the 
first half of 1986. 







Page 2 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER II, 1985 



Slovenia , Croatia Protest Subsidizing Poorer Yugoslav Republics 


By Henry Kamm 

New York Timet Service 


dent of Ljubljanska Banka, said Slovenia gunge* to limit Mkdina’s audience to this' foragn-corrency earnings to the National 


was 50 percent or more above the national 


. . _ republic. 

LJUBLJANA, Yugoslavia — This conn- average, and Croatia, 10 to 15 percent. Mr. Kovac, 25, was wearing a button on 
uy, a leader in the group of 77 nations that Slovenia’s per capita gross product is six which the number 133 was crossed oat in 
demands a “new international economic times greater than that of Kosovo, the bold red strokes. The number denotes arti- 


RanV , .lant said 

The Yugoslav government introduced' bausted." 


e other republics,** Mr. Va- 
eco&omy is becoming ex- 


WORLD BRIEFS 

Reagan, Lawmakers Meet on Budget . 

WASHINGTON (AP) — Congressional leaders met with Praitkii? 


order" on behalf of the developing conn- Albanian-mmority 


in the south, 
mutation. Slave* 


Slovenian tatcHectnataattribate their re- ^^n^Vu^day and^id aftenmdthat they hoped to^ 
tkmal Monetary Fuudand World Bank, public’s special status to historical and cul- ^ differences soon over major financial tegislation and wrap npOeir 


bold red strokes. The number denotes arli- tronal Monetary Fund and World Bank, pnoucsspcaai suras lomstoncai ana wu- ^ differences s< 
133 (rffteconstimtitHL^iidi makes it and Croatia and Slovenia blocked its adop- total factor* Wink the rest of Yugoslavia woric for the year. 


tries, has a north-south problem of its own. With 8 percent of the population, Sove- possible to be in trouble for expressing tkm eariier this year. was part « the Ottoman Empire, the 

The republics of Slovenia and Croatia are nia accounts for 16 to 18 percent of all divalent opinions. The button would be With a haid-currency debt of S2G button, northern areas were governed by Austria 


:d north, and people there say goods and services produced in Yugosla- unthinkable elsewhere in Yugoslavia. « 
X their less-developed brothers via. The Slovenian unemployment rate is ParadmdcaEy, Croatia is niled by the. 


Robert J. Dole; the Senate nntjority atSS 

at “there's stffl some concern, that a plan to face ; a batoced fedeal 


the developed north, and people there say 
they fed that their lesfrdevdeped brothers 
arc milking them- 

The feding is most outspoken in this 


1.4 percent, compared with a national rate most conservative Communist dements. But for the two republics, control over thodoac or Moslem. 


Yugoslavia can fllafford to disregard pres- Hungary until 1918. The northern Yi$o- budset by 1991 would hurt Mr. Reagan s planned mdrtaiy bmidnp. Btt 
sure ban international insdtutians. stays are Roman Cathdic, not Serbian Or- Republican predicted that the bill would pass and be sgned 


of 13 percent 


This is the aftermath of a purge of party their 


isanabso- 


ooox or xnosiem. % nresideni - 

Whatever separatist fedings have been ^The ft oasc and Saute leaders said they discussed the state of speatSag 


f-mitjil iSmHsnia. the rraubKc with the Slovenia is also the republic where ideas leaders in 1971, when President Josip Broz lute prerequisite of continued success for' aroused by Sfovemas distinctness, they hjjk the balanced-budget plan and tax overhaul. Thefirsltwo are taciag 
highest Irvine standards. ^ have tbe freest course and where debate is Tito said he believed Croatian liberalism themselves and Yugoslavia. Slovenia and have little currency. But Slovenes and this week, while the third has been Mr. Reagan s top priority. 

. most open. had come dangerously dose to divisive Croatia together account for 70 percent of Croats vigorously advocatea Yugostavver- 

Beranse jalousies M<mg the Yugoslav “Maybe it is a good thing they cannot nationalism. .the nation’s hard-currency receipts. sibn.of states’ rights against the Belgrade c .t a rvtonrlc PavmAnt Fivha 

rqjublia make standard-of-lmng compar- read us .in Belgrade,” said MIha Kovac, Whatever tbdr differences, Slovenia and Ab<mt 60 percent of these earnings go to- govmunentas the bm way of safeguard- oOUtfl i\UiC3l JLXlclWlo A dy Uldll * iXXM/g 

isons political dynamite, only estimates are cdilor of Mladina, an outspoken youth Croatia have ban jointly Gghtmg for the national budget, which provides sabst- mgYngostavta's future. PRETORIA (Reuters) — South Africa extended on Tuesday a fraeac 

S lven - weekly. Slovenian is suffidemly distinct greater autonomy. At issue is a bill that dies for the less-developed sooth. /Divided we stand; united we fall, a . TEDavhio most of iis 524-billion foreign debt by three nxaths to a3s»Jf 

Stanislav Vatant, executive vice presi- from Serbo-Croatian, the majority tan- would oblige enterpriscsto turn over their “We cannot sustain these burdens of Ljubljana intellectual said. timelor negotiations with major creditor banks on a. rescheduling 

~ ~ ““ ^ 1 — ' I P ^^^reeze, originally due to expire Dec 31, had been imposed Sepu- 


By Seth Mydans 

New York Tones Service 

MANILA — Though opposition 
unity has collapsed, and with it her 
best hope of defeating President 
Ferdinand E Marcos in Philip pine 
elections expected in February, 
Corazou C. Aquino says she takes 
pride in one aspect of the turn of 
events: she became a leader. 

Mrs. Aquino said Monday that 
when her advisers split on how to 
respond to Salvador H. Laurel's 
rejection of ha 1 terms for a unified 
ticket, she took a forceful tone in 
qiggesting that a nrrfnp tn m iaa be 

offered The backers who were with 
her, all of them men who are sea- 
soned politicians, obeyed her, she 
said 

“1 was so happy," she said, “in 
the seme that, yon know, in spite of 


The Evolution of Gorazon Aquino: 
From Silent Wife to Political Leader 


She said in the interview that she 
was still leaving the door open to a 
reconciliation with Mr. Laurd be- 
fore Wednesday’s deadline for the 
filing of candidacies. But that pos- 
sibility faded Monday as Mr. Lau- 
rel rejected her compromise offer 
of a formal party coalition and 
filed separate candidacy papers for 
the presidency. 

Mrs. Aquino said she still might 
seek a final meeting with Mr. Lau- 
rel. 

“1 just don’t want it to be said 
#r 3 that I failed to avail of every possi- 
ble solution in getting the two of us 
to unite,” she said But Mrs. 
***•" Aquino said she believed she could 
Corazon C Aquino win even in a three-cornered race. 

Because Mrs. Aquino's greatest 
these men to be taking, wdl, orders asset is the perception that she rep- 
fram a woman," she said “But T resents a moral cause, some of her 
just have to be very forceful now supporters had resisted a coalition 




— ^ . to stem an outflow of foreign capital and to protect t « aaa wnentarcmj 

Kl*!)Tint V iflif banks, concerned about the country's political stability, cut off credit 
Ulfl l HH Y loll jb e freeze now wfll ran until March 31. 

_____ _ The extension, which had been widely expected, was announced by 

PnlaTirl Chris L State, director general of the department of finance. He said the 

1UI UuUiU move should allow time for South Africa and its foreign creditors to come 

to an agreement for the gradual lifting of the restrictions rat ban 
Jg repayment. Mr. Siata did not role out a further extension after March 3r. 

By Midtad T. Kaufman Red Cross Aide Gets UN Refugee Post 

New York Tima Service UNITED NATIONS, New York (Reuterc) — The Genera! Assembly, 

WARSAW — Willy Brandt, for- without a vote, endorsed the nomination Tuesday of a Red Cross official, 
mler West Goman chancellor and jean-Piene Hocke of Switzerland to be the new UN high commissioner 
chairman of the West German So- for refugees. 

dal Democratic Party, has ended a He is to succeed Poul Harding, a former prime minister of Denmark.! 
visit here amid criticism from the who held the post for eight years. Mr. Hocke, 47, director of operationnr 
government’s political opponents activities for the International Committee of the Red Cross, was norai- 
that he shunned them while tending n an»H by the UN secretory-general, Javier P£rez de Cutitar. He is u> serve 


malt’s political 
shunned them w 


Corazoo C Aquino 


the thing s tha t have happened, have to be very forceful now 
events have conspired to make ^ to just tell them, 'Lode, we wftfc Mr. Laurd, who his critics say 
these people realize that they’d bet- have to do it my way if we’re ever is a machine politician, in the mold 

f _ . . w . n .1 J . .i nrano In mulro I# * w nf 1 l».* «ih4k M 



ter listen to what I teD them, other- 
wise we won't make it there.” 

In an interview, Mrs. Aquino de- 


to make It.’ " i of Mr. Marcos but with a smaller 

l Aquino, 52, is the widow of machine. 

do S. Aquino Jr., who was Corazon Cqjuangco Aqnmo was 


In an interview, Mrs. Aquino de- Benigno S. Aquino Jr^ who was Corazon Cqjuangco Aquino was 
scribed her evolution from the role “town as Nlnoy and was once bom Jan. 25, 1933, the sixth of 
of politician's wife, in which she bought to be the rally man who eight children in one of the nation’s 
was expected to be supportive and could unify the fragmented opposi- wealthiest landowning families. Af- 
to keep her thoughts to herself in tion. He was assassi n a t ed in 1983 ter attending an exclusive demen- 
public, to of political leader, in 35 be returned to Manila after three tary school fra girls in Manila, die 
which she is called upon to maW years of sdf-inqrosed edk in the con turned her education in the 
«---■• United States. • ** — — J — -*■ — ■- 


hard policy decisions. 

“I guess it’s very difficult for 


United States, graduating in 1953 




LEICA 
Hie world's 
finest camera 


From one of the moat 
experienced L0GA 

dealer* in Germany - 
serving customers 
worldwide with the 
complete line of new, 
used and collectible 
equipment. 

Ask for export price Hst. 


VOTE DISPUTE — The president of Guyana, Hugh 
Desmond Hoyte, voting in general elections. Leftist 
opposition parties boycotted the vote count Tuesday, 
charging that the army seized ballot boxes to ensure the 
victory of the ruling People’s National Congress parly. 

Pollution Is Afflicting 
36% of Swiss Forests 



K w— l atrafl e 25 *' 
6000 Frankfurt 
*060/233555 
Telex 

04-14380 rahnW 


“Having been the wife of with a degree in French and maihe - a 

Nlnoy," Mrs. Aquino said, “I knew matics from the College of Moimt /if 

that I was not supposed to be too St. Vincent in New York. /\J f/f kJM/Wo X C/f 

forceful. I would never say any- Mrs. Aquino was studying law in " . 

thing lf Nmoy were around or to Mamin when she met her future New York Tima Service tions a* 

contradict any of them." husband, the youngest mayor in the GENEVA — A report by the to press fra 

But in the last two years, ate history of thdr bOTJC town of Con- Swiss national forestry office indi- that too httl 
found herself mhenting Mr. cqxabn, 50 miles (80 kilometers) cates that despite anti-pollution rain to justif 
Aqumo s role as a unifier of the northof Manila. measures, dta^age and disease Switzei 

He later became the youngest caused by add rain and other vided natun 
™ wra uey are governor of the province of Tanac forms of air pollution are ooatinnr tanthes and 
Sd the country’s youngest senator, mg unabated in the countiys fra- SToffida 
He was a leading candidate to sac- ests. currenVto 

wmt to do, she smd. Baause Mr. Marcos when the presi- The annual evaluation showed mav beforct 

A^ bC * n *!fyl p0 ^v v dent dedarcd martial law in 1972, a that 36 percent of the forests, whicih areas and tl 

year before his term expired, aoA cover more than a quarter of Swiss may suffer w 
believra tlua Mr. Marcw was ren (om I j SO Q C d Mr. Aquum for eight territory, are afflicted. The prob- u , 

amostHe fra the asmanalton of ^ ^ lem hai worsened considerably in . 

^uste^ announced her candi- • ^ ^ ^ ^ mountain regions, where trees kc a SL2£2a 

vital barrier to avalanches. arevulnerabl 


his stature and support to General g three-year term beginning in January. 

Wqjdech Jaruzelski, the Polish He had the backing of the United States and was among a targe 
leader. number of candidates for the post, which is based in Geneva and pays 

Polish officials were reflecting J 120,000 a year. He is to administer programs to benefit about 10 million 
jubilantly on a week of diplomacy refugees worldwide, 
that began with General Jarozels- 
ki's meeting with President Fran- 

Top Beijing Official Visits Hong Kong 

The two events were being cited HONG KONG (Reuters) — The 

by the Polish press as evidence that Chinese official responsible for 
the West’s policy of isolating Po- Hong Kong affairs arrived Tues- 
tand had collapsed. day for a visit amid fears that Beij- 

Mr. Brandt; whose visit ended ing may be backing down on a 
Monday, had -been invited to Po- pledge to aDow the British colony a 
land to mark the 15th anniv ersary high degree of autonomy after | 
of the Polish-West German treaty, 2997. 

'Much he signed and which ao- Ji Pcngfci, who heads the Hong 
knowledges Poland's annexation of Kong and Macao Affairs Office, 
prewar German territory east trf the said m a- statement that he would 
Oder-Netase line. seek the views of Hong Kong rea- 

During his stay, Mr. Brandt por- dents on their future during his 13- 
trayed the treaty as the foundation day official visit. Mr. Ji is the most 
for die Helsinki process of East- seauor Chinese official to have visit- 
West cooperation in Europe that ed Hong Kong, which is to revert to 
*- — China when Britain’s lease on most 


began in 1975. 


tions such as Britain have declined West ‘German view that peace 
2 JSJtHESSLaCS. Eorope depended. on sta£ffi£ 


Mr. Brandt also underscored the of the cotony runs out in 1997. He 
West German view that peace in colony’s governor. 


Sr Edward Youde, and Xu Jiatun, 


pd6n, 50 mues (80 kuometos) cates that despite anti-pollution rain to justify new measures, 
wth of Manila. measures, damage and disease In Switzerland, trees have pio- 

He later became the youngest caused by add rain and other vided natural barricades to ava- 
vemor of the province of Tarlac forms of air pollution are ooatinor hmebes and for cento- 


duit too Mt is known about add and^thTcc^oS <£ head of the Xinhua news agency 



vdopment of Poland was an essen- “ d ChiniI ’ s serior representative JJ Pen&ei 

tial conditixui fra that stability. “ wre - 

■ In talks with General Jaruzdski, 

{SwtaTriSSiL 1 !!; Lange Proposes Bill on NudearShqw 


JI Prai^d 


ries. Officials there fear that if for the rdm ol three im- 

cummt tt^s craumne, peofue prisoned Solidarity figures— Wla- 


TpS The annua! evaluation showed SfS.ZSS , ^UNOTON, New Z^tand (AP)- The govemmat introduced 

dent declared martial tawin 1972, a that 36 percent of the forests, winch ai^s^ndSatto^Sd^fn^ ^ ^ nudcar - armed ^ powered 

Adam Micbrak — as wefl as other ships and aircraft from its temtorv. 


betievratluu Mr. Marcos vrastj La ?F alrqdy banned nudeaF-OTied andj; 

sponsible for the assassination of lem has worsened considcrablv in Although the damage is general- have timed ovw a ^hst of 150 JXJ0 powered warships. He has said the legislation would bind future govern-’- 

her husband, announced her candi -- 3 . 1O0n .. . . , _ mountain rations, where trees are a ly attributed to arid ran, forests pet»le who wanted to be reunited meats to the same policy. 

dacy Dea 3, one day after a court r . i 1 vr’_ M r3 ~ thar vital bairierto avalanches. are vulnerable to another poUntant, with families in West Germany. - The opposition National Party vowed to fight the bill, saying ii was not 

The Federal Office of Forestry , Ml- B-ndf S Mere to meet yid, “^^^te^toere^T^httha with 


may suffer wid^pread damage. 
Although the damage is general- 


Jll V U4U «■«-» nVIUUUeU WlLUillulaL/I T HI - .mm . - ■ a — • — _ - . ■ 

SSUdST 1 "’ i^'Soeble B S’ 


meat in the killing. 


u ■ 

w\*utZAu t*£i# 

JEWELLERS / 

73. Brompton Rood Knightabridge 
London. SW3 1DB 


said that disease caused by pS a syntxgetic reactronof pollutaiits Lech Walesa, a founder of Solidari- the United States and Australia. Washington refuses to divulge, as a 

withSiSheiSmiSTS tion had struck or had already tn tog or nust to *mhghL ty.has touched off a pohtical storm matter of policy, which ships carry nudearanns, 

death at Manila International Air- kffled about 43 potent of the trees “We have photoaxickms ramlar m W«a Germany, but diplomats m 

in the central Alpine regioacsst of to Los Angdes smog, said Walter Warsaw said a major result of the 



co uns el. r- — i— 


-Smce I am natty not a polxU- director, said the sUuatirafwould 

‘T’ t . n “t.™" 2? “5 “aggravate itself further in the 
when I talk about one flung and courae of the coming decade.” 
then taxer on I realize I amnot phenomenon is a general 

establishu^ rapprat, you know7” one that has swept through Euro- 


^Maurire de Coolon, tbe agency's Singapore CoUlt 
director, said the atuation would T n ..—...l 

"aggravate itself further in the 1 Hie» JOluURi 


mut Kohl to come here. 

Mr. Brandt met Sunday with a 
group of four Roman Catholic inr 


rcog^o f a military cooperation treaty signed 32 yean ago by the two 


Over Editorial 


esraousoi^ rapprat, you mowr 0 ne that has swept through Euro- * 

Sm said Umshappetedm the forests Hkrming • 

first sessions of her udks with Mr. levds in Austria and West GeS SINGAPORE— The 1 
kumd to Kdc coahtion. On the ny.The threat is believed tobe even High Conrton Tuesday 


group of four Raman Catholic ire A^^riing to a joint statement issued at the end of the second day of 
teUectnals; two of them, Tadeusz ^todnd, the agreement is mtgect to the ability of the Spanish 

Mazowiecki and Krzysztof to assume the responribihlies cunently undertaken byU-S. 

SfiwincAi, had ToJra in Solidarity. ... 

Others present later said that Mr. as a good will gestiire toward 

Brandt had asked the group to con- MeMmstor Fefoe Gonzjlez, whose Socrahst government has prom- 
vey his admiration to Mr. Walesa. ??? “^artfa^nmOT Spam s continued membership in the North 
whm Mr Rran Ht nm adrM? a* ■ . Treaty Organisation. A re duc t i on in U^. troops was seen gc _h~ 


"f; news conference why he had not 
J?* met with Mr. Walesa, he said, "You 


1110116 severe “ a*® 85 of Eastern owiErSrWiit^pri^^dtatrib- can’t settle everything at once.” Fnr flip Rpomvl 
Sj2SL^ B,a * 5t03ddreSS Europe where poDutipn controls ^ of dm AstanWgl Street Jo«ir- ^ OT t&e IteCOrtt 

“a™ rcaZrtres. are less strenuous. naialotalof 16,000 Singapore dd- nt nneti letters ... _ . 

Xml reports indicated that taw (J7,500)foran ahtonal it said dressed to him by opposition fig- ^ 00 of fraud in 

building is a poster of her husband more than 50 p«cent of the forests bad sca nd al iz ed" the nation’s jd- ^ said he treuttot added. “I wth . MDa p« of the Rumasa business group, a 

with a halo behind his head and the in many parts erf West Germany dietary. riot want «AaMkW 


words. “It is better to die with hon- and more than 25 percent in 
or than to live in shame.” -* * — r 


— of Austria were afflicted by wmu. us . — - — iu . « il. l. , «» uw 

Mrs. Aquino often says she con- known as Woldsterben. or the dying correspondent, who had said he * "* J* **J g*** *** 5JP 10 Damascus this month as a further step toward 

rntly refas cm her rrxgnnry of him forest nhenomenon. had no part in writing the Oct 17 Eaward_ Lqunraa, 96, a Soudanqr reoonefling di^rences between the two nations. (Reuters) 


But the court acquitted Stephen l Mniw w 
Duthie, the newspaper’s Sing^ore 


Prime Minister Abdul Ramtf aLKasm of Syria and King Hossero of 
Jordan met Tnesday in Amman, Jordan, and officials «»h that Hussein 


stantiy rcbes on ha- memory of him forest phenomenon. 


for advice in her Hfe. 


The problem is attributed to a 


This symbolism, which she combination of factors that are pri- 


HUBLOT 


Quartz movement . Water resistant 5-atm 18 K gold, 
gold and steel, all steel. Natural rubber strap. Registered model. 


iUJKWER MYSTERY 

I WEEKENDS 

M- 

tn fhe tradition of Agatha Christie , 
f¥ BlythfifCompany will offer for the first tone i 
f across Europe a series of Murder Mystery 
f Weekends in English. They represent both an 
f intellectual challenge end great amusement to a 
small number of paying guests infiltrated by 
professional actors, amid tbe splendour of 
some of Europe's finest hotels and restaurants. 


VENICE - "A Death in Venice", the Cipriani Hotel. March i-f-16. 

NICE - -Death by Descent". Chateau Eze Chheau de la Chfcvre dUr. March 21-23 


had no part in writing the Oct 17 “P™w» raxracumg oinerences between the two nations. (Reuters) 

editorial. The heaviest fine, 6,000 su PP^ tCT n and ,f P«war Socialist, 11k World Court ruled firmly against Tunisia cm Tuesday in a dispute 
Singapore dollars, was imposed on f™ "r: con- with Libya over rights to a Mediterranean continental area that mav 

tire paper’s owner. Dew Jones Pub- figure smce contain ofl. T^e 14 judges of the court m The Hague rqected a Tunisian 


potentially a dangerous opponent car exhaust or the burning of fossil ltahmg Co. (Asia), for contempt of ®re. 

for the president, pohtical analysts fuels like coal and oil. court. ^ Mr. fjpinslri sai 

say. Small agns have been emerg- In the United States, dreads of The features editor, Melanie aware that, in polit 

S ’ 5 of the kind of campaign Mr. acidified rain, snow and mist have Kirkpatrick, was fined <000 Singa- search for tmdersta 
arcos might wage against her. weakened the neutralizing power of pore dollars, the editor and pub- cult situations. 

“There will be a problem fight- the soils and lakes, prompting soane ltaher, Fred Smmerman, was fined 
tag Cory," a member of the presi' officials to call for major restric- 3.000 Singapore dbHars, and flu 
deat’s party said Monday. “You tions on emissinr™ from power editorial page editor, Paul Gigot, 
can’t be too rough on lur. You have plants and other sources. was fmed 2,000 Singapore dollars, 

to know when to stop being nasty But the Reagan administration ’Die printing- company, Singapore 
and just be assertive." and officials in some European, na- Newspaper Services, and the dis- 


tag Cory," a member of the presi' 
doit’s party said Monday. “You 
can’t be too rough cm her. You have 
to know when to stop being nasty 
and just be assertive." 


court. Mr. Uptaski said that he was 

The features editor, Melanie aware that, in politics, one had to 
Kirkpatrick, was fined 4,000 Singa- search for understanding in diffi- 
pore dollars, the editor and pub- cult situations, 
ltaher, Fied.Zhmnerman, was fined “Sritl," lie wrote, “it does not 
3,000 Singapore dollars, and the. seem to be either necessary or ad- 
editorial page editor, Panl Gigot, vantageous to yoor interests to dis- 


ined 2,000 Singapore dollars. ' cuss Goman- Polish idarions only 
ranting- company, Singapore with the authorities of tins part erf 
Newspapers Services, and the dta- the great Soviet empire while 
tributor, John Tan, were fined 500 avoiding representatives of the op- 
Stagapore doHare each. position, representing a significant, 

except Mr. Duthie had apot even an overwhelming, part of soci- 
I to tbe court last month for ety." 


BRUSSELS - "Murder Motf Foul". Rdais du Marquis. lure. April 25-27, 
FRANKFURT - "Crimes of Passion". Schlosshotel Kronbefg, May 2-4. 
PARIS * “Sh^ io Me a Lullaby". Aigle Ndr. FbmameHeau. Mav 24. 


About S300 por person, including meals* For reservations and brochures, 
contact 

Blyth2(Company . (i. avenue de b Mcr- OA23U Si-Jegn Cap Fare Fntjwe 
a 930128 38 Telex 470673 F. h Ihe USA (800) 228-771 2 


TRAVELLERS REASSURED * WATER 
IN BOMBA V SAFE TO DRINK'. 


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. S^B 
Most prefer Tonic in Bombay, Mar- QH 
tini in Bombay or Orange in Bombay. jrS 
Indeed, anything that one would MJti 
usually mix in Bombay. 

But, let me assure you, there 
fa to need to stay clear 

Gins are^ well 


p ublishing the editorial. 

Hu prosecution had quoted the ■ Roles Protest Travel Rules 
editorial as saying that many Sn- . The Polish government said 
gaporeans thought the government Tuesday that it has formally pro- 
was trying to “wipe onT Joshua B. tested against travel eaoditiems im- 
jeyaretnam, anopposition member posed cm its officials in the United 
of Piarijament, a®l that they had States snd would craukkr redpio- 
little faith “m flu mdqjeadence of cal acti«a, Reutas rqxsted f«rin 


Warsaw. 


request for c han ge s in a 1982 ruling. (Reuters) 

Guatonafc’s president-elect, Mario Vhucio Cerezo, said Monday that 
he womd travel to Washington next week to ask for more economic aid, 
but only “without conditions.” . (UPI) 

• . ■ w j 

OunaNudear Pact Restric ted 

__ (Continued frran Page 1) that some legislators <5d not com- 
iJ^artnieiit of State had pushed prehend how t"™* of a change in 
the Chinese just abom as far as they the Chinese altitude on nonprolif- 
woe willing to gp eration tlu^ccoidiqjnsei^ 

oSSS^JSn Until tdatwdy reoebtly, China 

predaimed the right of aB coun- 
tries to acqrrire nndear weapons far 

. . tempts ty the m idear powers to 

■ Aamnatraton Frustrated prevent tner spread. 

to reflecting the Reagan admin- The Rea^n administration re- 
istratiras frustration with coner«- ganis flu secret loos of negotta- 


little faith “in flu independence of cal action, Reuten naorted < 5P° a ® na of the pact, tions a ratisfying any requjremenl 

their judiciary" Warsaw. ' n ’ wrlea Charles E. R edman, a Stale De- that UJS. technotogy sold to Octaa, 

■ JusticeTJS. Stanathnray, inread- Hu United Staw has decided *P ofce ®? M *. «“d, “Hu vfliirii has plans for nndear energy 

tag the verdict to the court, said: that because of a recent record of rrcTrn^ 111 undern “ Qe toe plants wrath taffioas of dxMargr 
“It is dear beyond doobt that li» hostile activity, dipLomatic and W einen L damage would not be re-exported wkhout 

article contains objectionable ofter official persound fiom East Ar'™5iJ ldafi< ? ls ^ w *shingtta’s approval, 
statements scandafetag tbe courts Germany; Poland, Bulgaria and t2\P 1 VS n ' ss we have madc with Theofliciata said that Oiina had 

of Singapore. The outrageous aDe- Czechoslovakia wonldhave to , ^r 11 ^ 01 ^ noclear nooprolifera- psored Washington that ir was mu 
gatioo made in them is that opt book thejr travri throngh the S m* t r J ^ rter ^ r ^ 5 °rted. helptag Rdristan dewfcp a nndear 

courts are not mdepeadent.”' - • Department. u.o. omcials, who asked not to bomb.Thta deared the way for the 

— : ! ^ toflnufied, said they bduved accord to be sienod last Into. 


- P — WM* V*T» . W M «*■ 1 VWVUL UWIQ m 

“It is dear beyond doubt that the hostile activity, diplomatic and 
article contains objectionable otter official personnel from East 


statements sca n da lizin g the courts Germany, Poland, Bulgaria and 
of Singapore. The outrageous alle- Czechoslovakia would have to 
gaiion made in . them is that bur bode tbdr travel fltrtwgh the State 
courts are not independent”' . - - Department. 




UNIVERSITY DEGREE ' 

■ FwtBc. anSMifc frWWfcBtpaiiMHM - . 

Oafli««sforp«api*wliawnnttetMiniora«ff*otfva . | 

■nd sacun fat tlwir JatMarPnstwvlwif. I 

. Un ■ BACHELOR'S, MASTER'S ofOOCTORATCcwaiet I 

Dyuiamfl yourftf«ina ■ 

nm«»«n (WMBTOnm* IMtMea(VmMB< . . I 

aMiknlAin Or»art* nO«VH!,»ivh9'l t#fc*n.Norcll«J«nef TTQWr»d . I 

I tammkiKM I 

miimkv . ..... .... l 

ButDagnK S<infltw««drwhi«itgiiwBriilif«ii>d « c n «mi e aM «.i«nM ten '. - I 

ooeotScon. nentMiwjgn. ... . J 

] Pacific Western Umversity V j 

I . W» ILfptswaa Bhwl, Lw A« ,BlwfcCa H Br»lln nm.Oem.a-OSJL • ^ I 


fiwy believed accordto be signed tastJuly. 


SAtE NOV ON 

ORIENTAL ■ 

CBWDPiEWB lIlt v 

Kv k' || - . .^ahhu Samad 

M ammte vrikfnm Rondel ^ 









3 





D at am, 11 »XVW » M'i ■ * !• * W EM 


AMERICAN TOPICS 



George Gipp 


The Great Gipper Conldn’t AJBtord 
To Quit Before the Final Whistle 

■ “The Gipper would newer qmc-undl the final '. 
whistle,' 1 President Ronald Reaps, said is a 1984 
campaign speech, invoking once again Ute came of 
‘George Gipp, the legendary University, of Notre 
Dante football player afaose Kfe Mr. Reagan por- 
trayed in the J940 film “Ksuie Rockne^ AH Ameri- 
can." An article by James A. Cox in the current 
issue of the Smithsonian magazine puts *hlc refusal 
to quit in quite adifferent lighL 

Mr. Cox recalled a game in 1920, with Artsy 
Leading 17-14 at halftime; “Rockneifl givmgonetrf ' 
his famous fight speeches. At the end every player, 
is up, breathing fee, except Gipp, who lounges in 
the doorway looking bored. 1 don’t suppose yon 
have the slightest interest in this game,’ Rockne 
snaris. 'Yoo’re wrong there, Rock,’ Gipp answers. 
Tvc got 400 on this game, and I don’t intend to 
blow il‘ " The Fighting Irish won 27-17 and went 
on to their second consecutive undefeated season. 

Mr. Cox says, that besides being the greatest 
runner, passer and kicker in Notre Dame history, 
“Gipp was the team's bookie.” The Gipper (the 
“g” L5 hard, as in gift) drank and smoked. He was a 
cardsharp and a pod shark, and he hdped friends 
pay their tuition with his dice winnings. 

Short Takes 

JflShouse lawyers are more than a figure of 
speech in New York state, where inmates at (he 


Sing Sing and Arthur Kill prisons can study to 
become para-legals, or lawyer^ assistants. Faculty 
members from Bronx Community College conduct 
. the course. David Foster, 24, an Arthur Kill in- 
mate, said he gets kidded by other convicts for 
taking the course, But he added, “If, when I get 
out, idoriT go into law, if I get in trouble like they 
say, TO know enough to get around it” 

Haring, the harassing initiation rites of some 
school dubs and fraternities, is now Illegal in 
Massachusetts. A new law sets penalties of up to 
100 days in jail and a $1,000 fine for endangering 

the health of a high school Or college student 
through “forced eaTfohmit*, exposure to the 
weather, forced consumption of any food, liquor, 
beverage, drug or other substance or aery other 
brutal treatment.” A few students have died during 
unusually harsh h«7mgs 

Last July 18, Congress cut off the $100,000 
yearly budget for a Braille edition of Playboy 
magazine. Representative Chalmers F. Wylie, the 
Ohio Republican who sponsored the move, said 
■ that Playboy portrayed “wanton and illicit sex 
Now a blind readers’ group has sued to revoke the 
ban as a violation oTfree speech. Playboy in Braille 
contains no centerfold or photographs of any kind. 

Shorter Takes: The National Weather Service 
forecasts a mild winter for the southeastern United 
States and an especially cold winter Tea- the north- 
western states of Utah, Idaho and Montana 

Investigative engineers are still trying to find the 
cause of the cracks that have appeared over the 
past year in the blade granite walls of the Vietnam 


Veterans Memorial in W ashing ton. So far the 
experts are baffled ... It will no longer be neces- 
sary to pass the salt and pepper, at least not for 
those who have paid S4.99 for a robot shaker now 
on the American market. When the robot Is wound 
up, he walks toward the dining partner at whom he 
is pointed. 


Give SDI Technologfto Moscow? 
Reagan, Some Say, Is Starry-Eyed 

President Reagan’s pledge to share a space- 
based anti-missile system with the Soviet Union 
has puzzled many defense industry executives, The 
New York Times reports. These executives say the 
technology involves the same advanced computers, 
software and lasers that the Defense Department is 
fighting to keep out of Soviet hands. 

“I just don't understand it," said William Rec- 
tor. vice president of space systems at General 
Dynamics Corp^ during a recent conference on 
space technology in Colorado Springs. “It just 
doesn’t make sense.” 

An engineer at Tcledync-BrOwn of Huntsville, 
Alabama, a major defense contractor, said: “Per- 
sonally, Tm not inclined to give the Soviets a thing. 
They're going to develop enough of this on their 
own. Ana Fve yet to meet anyone in the defense 
industry who feels differently.” 

— Compiled bv 

ARTHUR HIGBEE 




lubiganl - Pans 


1- 


Historic U.S. Soil Project 
Gets Tentative Approval 


By Keith Schneider 

New York Tima Service 
WASHINGTON — A confer- 
ence committee working to recon- 
cile the Senate and House versions 
rf die 1985 farm bill has tentatively 
(approved the most sweeping 
changes in the 50-year history of 
the American sofl conservation 


The measures are designed to 
halve soil erosion by paying farm- 


sa frg i £pn up to 40 million acres (Id mil- 
Son hectares) of the most fragile 
farmland. • 

Tbe acreage set aside by the pro- 
gram would become part of a new 
s. . ^national land inventory. Once 
'^=rfann£T5 decided to place land in 
’tins conservation reserve, they 
would not be allowed to rise it for 
|L- i^Snythong other than growing ero- 
fiL Vfeioa-resKtam grass or trees. 

“Thu is a historic piece of legis- 
V :®alion,” said Peter C. Myers. Sssis- 
~tani secretary for natural resources 
i p .md environment in the Depart- 
■’ ■ ^-ment of Agriculture. “It is, by far, 
the best conservation program 
we’ve ever had." 

titpSw' Daniel Weiss, a lobbyist for the 
lluco Sierra Chib, said: “For the first 
. -Ti-time our farm. program rewards 
.-conservation , and ^penalizes je- 
wurce exploitation. For the past 50 
i/ears it’s . been the -other way- 
- . . j jraund.” 

Payments for the conservation 
■ ; .reserve would start next year. 

The government estimates that 
. .i .the program would save billions of 
dollars each year. Agriculture De- 
nartmem officials said that the cost 
if the reserve would be far less than 
» Uihe costs of price supports, loans 
L.ULUmd other government payments 
.. - -c . aimers would receive for growing 
- L . ■». -Tops on the land. 

The officials also said the reserve 
vould probably raise farm incomes 
;; ->y reducing tbe production of 
. vbeat and other grains and thereby 
.. .1 ^raising prices paid to farmers. 

Estimates of how much the con- 
. :-. r «rvatjoo provisions would cost the 
-■Jjoverament were not available 
. _ v :: Monday night, but the conferees 
r .-:xpected to recave such figures 
- _.v'rom the Agriculture Department 
wfore sending a conference bill to 
he House and Senate. 

Department officials estimate 
hat conservation will cost $50 an 
. icre a year on average, as against 
-'Top-support costs that sometimes 
un to SI 00 or more per acre. 

• Moreover, the program sets 
- stringent sanctions to discourage 
"aimers from filling in sensitive 
vetlands or plowing under virgin 
grasslands in order to increase the 1 
ize of their farms. If farmers vio- 
■ ate the sanctions and plow op frag- 
le lands, they could lose their ehgi- 
. lility for many government farm 
irograms next year. 

Many fanners who already have 1 
^ — '"een farming fragile lands would 
e exempt from this provision, 
p sjfhey would have until 1990 to be- 
'f fXtFin developing conservation pro- 
rams for their land, and until 1995 
} put their programs into effect 


xiinmbfo’s Dean of Law 

s Named Yale President 

H'ushingien Peal Service 

NEW HAVEN, Connecticut — 
ale University has appointed 
enno C. Schmidt Jr., dean of the 

dumbia University Law School, 
* die 20th president in Y ale's 284- 
ar history, university officials an- 
oanced Tuesday. 

Mr. Schmidt is to succeed A. 
"artlett GiamaitL who plans to 
ep down in June after eight years 
sweated largely to restoring the 
Diversity's fiscal health. He has 
at announced plans for his future, 
tr. Schmidt, 43, graduated from 
ale College in 1963 and from the 
ale Law School in 3966. 


This has brought protests from 
some conservation groups. 

The results of the current policy 
have become apparent across 
America. According to the Agricul- 
ture Deportment. tens of thou sEndfi 
of acres of prairie in tbe Northwest 
and West and hundreds of thou- 
sands of acres of fragfie woodlands 
in the South have been plowed un- 
der. Wind and rain have washed 
milli ons of tons of valuable topsoil 
into streams and rivers. 

A study by the Sierra Qnb shows 
that 80 percent of tbe 450,000 acres 
of wetlands destroyed every year 
are converted for agricultural pur- 
poses. Another recent study by the 
Conservation Foundation reported 
that each year soQ erosion causes 
S6 billion in damage to wetlands 
and recreation areas. 

In Iowa, land along dopes that 
once had topsoil three feet (about 
one meter) deep now lias just a 
half-foot of topsoil .To maintain 
production, many fanners apply 
more chemical fertilizers, 'which 
also wash away with the topsoil 
after heavy rains. 

■ Scientists say it can take a centu- 
ry to replace an inch of topsofl. 


Ski weeks 

SF 1650.- (all inclusive) 
from January 5 to February 2 
and March 9 to 23- 


PALACE HOTEL 
GSTAAD 
SWITZERLAND 

Please call: 

Phone: 030/8 31 31 Telex 922222 
.or 

^IhifJgadiD0ioidsoftheWxid. 


LEROY 

v jXl 

try Bjuihe • Iknau 



What’s the point of using a computer? 

Whafs the point of saving time? 


v-f A 


lO 


v i: i«: >-k. 






tp&t.ih.:. 




Even in the unrelenting worid of 
business, some thing can't be rushed. 
Great ideas, fix example, still take time. 

And the only way to make time for 
something as important as thinking, isto 
spend less time doing other things. 

That’s where an Apple™ Basonal 
Computer can help. 


v*vy 

• 'J: t>l*f •* . ■■■■ ■ 

: , ••• ‘ v ',*■ ■■ r! -c 




■*:■■■ t-i',**:. st*. 


Because the first step in managing Time consuming financial analysis, 

your business, is managing your workload aaxDuntingorforecastogcanallbedonemore 

And that’s one ofthe things an Apple quickly and more accurately with an Apple 

does best Madntosh™ and the appropriate so 




Macintosh and AppleTalk 








And you can use the unique graphics With Apple's new LasaifRiter™, 
capabilities of Macintosh to convert numbers you can print your document with 
into easily read graphs. near typeset quality. 


K15EIN1H| t * fanciiB untiifi 
j rB*ir«fiBiru (fewaiti im 





rtf} > 














.Page 4 


INTERNATIONAL HERALD TRIBUNE, "WEDNESDAY, DECEMBER 11, 1985 


U.S. Doctors Escalate Tobacco War 


The Assomucd Pros (hat advertising encourages use of • Press the U.S. surgeon general 

WASHINGTON -—The Ameri- tobacco and that the medi c al pro- to put health warnings on smoke- 
can Medical Association lession has a duty to do something, less tobacco packages. 

Tuesday for laws banning all ad- The report said that attempts to The surgeon general. Dr. C. Ev- 
.vertising of cigarettes, chewing to- persuade publishers to voluntarily erett Koop, was at the bearing rcp- 
■bacco, snuff and other tobacco stop such advertising had had only resenting the Public Health Ser- 


• Press the U.S. surgeon general 
to put health warnings on smoke- 
less tobacco packages. 

The surgeon general. Dr. C. By- 


products in the United States. 

The association’s policymaking 

• House of Delegates also proposed billion a year on ads. ministration, which has tbeautbor- 

„ Despite voltmury program, ily to issue padagewanra^ 

and baning sales of smokeless to- A °“- r ««nseltD& Asked for comment, Anne Brow- 

bacco to minors, greatly escalating ^ continue to seed* ravage of der, assistant to the president of the 
the associations campaign against toissomJhabiti Dr. McAfee smd. Tobacco Institute, which repre- 
tobacco use. Other tobacco resolutions would sent* toe industry, said: “Advertis- 

- The resolutions were approved “fl for the association to: ingdoesn’t create^kas.Itcre- 

by voice vote with little discussion. • Draft proposed legislation that ales ra “ d loyalty- 


modest success. It est im ated that vice. He said he would report by 
UJS. cigarette advertisers spend $2 April 1 to the Food and Drug Ad- 


ministration, which has the author- 
ity to issue package warnings. 
Asked for comment, Anne Brow- 




Peace Prize Winners Urge Test Ban 


As a Step to End Nuclear Arms Race 


■.'.M 


tobacco use. 

- The resolutions woe approved 
by voice vote with little discussion. 


Resolutions approved by the state legislatures might use to for- She said that a ban on print ad- 
group, which has 367 members, be- bid cigarette sales to myone under vertising would violate the indus- 
come official policy of the organi- the age of 21 and to eliminate vend- try’s right of free speech and said 
zation of 271,000 doctors. ing machines, which could be used that such bans in other nations 

iv lo circumvent such laws. have not worked anyway. 


ing doesn't create smokers. It cre- 
ates brand loyalty." 

She said that a ban on print ad- 


fCnnthuKd from P&e 11 and environmental hazards of nu- Soviet and American leaders had 
J9S0 close clear conflici while avoiding poliii- generated some optienan, be arid 

friendship through joint medical cally sensitive topics. the superpowers must do more 

^ } “We are not indifferent to other than just speak of good faith. _ . 

This year's award aroused con- human rights and hard-won civil •‘^ entiiusi^ for the positive 
troverey because toe group's goals liberties.’’ Dr. Lown said in his ac- spirit in the Geneva mjks, Dr. 
crindde with Soviet mbs policy ceptanee speech. “Bui first we must Lown said, must not bhnd us to 
and because of revelations that Dr. be able tobequeaih to our children the absence of genuine progress to- 
Chazov signed a letter in 1973 do- toe most fundamental of a0 rights w^disarmamwt. 
noundng Andrei D. Sakharov, the — toe right to survival. The Harvard cardiologist 

dissident Soviet physicist, for alleg- Dr. Chazov said that the five clm^ tto 70 nwtor ton« 

edly slandering his country and years since toe anti-nuclear group being added every week to 
commit ting “blasphemy” against was founded “were not all roses: global arsenals. 

n* ■ w « “ * a* ■“ *5* jawrafa 


zation of 271,000 doctors. 

During hearings Monday, Dr. 
Roben McAfee; who presented the 


that such bans in other nations 
have not worked anyway. 

The proposed U.S. ban was 


Roben McAfee; who presented the • Prepare legislation to ban TV The proposed U.S. ban was 
report opposing tobacco advntis- ads for chewing tobacco and snuff, praised by numerous doctors, in- 
ing, said, “The urgency for it is on the ground that “the public is eluding A. Stuart Hanson of Min- 
plainly apparent." much less aware of the dangers of neapofis, who called smoking “the 



Security was tight at the ceremo- skepticism, indifference and some- rage of holding toe cmirc worW 

ny Way. andpolice kept pro- timk animosity ” h0S ^* XSSiA 0 

testers away from the entrance. The Moscow doctor, a full mem- moral obsce nit y that each of us is 
Demonstrators carri ed signs read- ber of the Central Committee of targeted for extinction. 

ing “Free Sakharov” and “Find the Soviet Communis! Party, made cwthnlm Cmwoiahv 
N ew Friends, Dr. Lown." no reference to any specific human t^remooy 


New Friends, Dr. Lown." 


TfaaAwcfetodlVm 


Both Dr. Lown and Dr. Chazov rights issue. 


He and other physicians argued using smokeless tobacco than with No. 1 public health hazard that is 


that tobacco and cancer are linked, those of smoking tobacco. 


preventable." 


The French novelist Claude Simon, left, shakes hands with 
King Carl XVI Gustaf at a Nobel ceremony in Stockholm. 


have rebuffed critics by insisting Egil Aarvik. the chairman of 


that their organization can main- Norway's Nobel committee, noted 
tain its international backing only in his opening address that the 


uun mranfluonai u acting oniy jn jyj opening address tnai tne 
by concentrating on the medical peace award often had been grant- 
ed to human rights campaigners. 


EMPLOYMENT 


GENERAL POSITIONS 
AVAILABLE 


INTERNATIONAL CLASSIFIED 


LOW COST FliGHTS 


AN EXOTING JOB M JOURNALISM 
o (nolobie lo ih* 

HTfTOR 

who has at hart 10 yaroi writrng / 
editing experience wh oh moitwr 
loegue a fcngbh, whose French and 
German are fluent; who a famSar with 
the European scene; and whose inter- 
ests are wxfe-rongng, inducing current 
events, human interest, science, art, lei- 
sure, etc 


(Continued From Back Page) 


TO lAX/SFO dofly departure from 
Europe return $489. Aba 1 way & 
other US destinations. Pant 4225 W90 


AUTO CONVERSION | AUTOS TAX FREE 


LEGAL SERVICES 


HOLIDAYS & TRAVEL 


Moslem Captors Release 
Two Christians in Beirut 


He said the committee followed 


“the fate of these prize-winners 
with interest" but asserted that this 


year’s award, with its focus on nu- 
clear disarmament, embraced “ev- 
ery human being’s birthright." 

Mr. Aarvik praised the doctors 


* sureconvhtt * 

Tha tdait way to biport a 
Earopww enr into tho UJLA. 
Worldwide American insurer 
provides al required nsuranai 


GA INTERNATIONAL 


AUTO EXTORT TO: 

USA, Croiada, Midds t Fro Emt, 
Jqxn a Latin America 


US IMMIGRATION: Guaranteed r«>- 

UtunCnfiS Or QpDuyTnOiV. U | m IJCI- 

laqher. Any, PA fa* 70301 Wo* 
DC 30088 USA Tot 301-9848319. 


'THE RTVHA M PAHS’ 
HOTEL du 

OUB MBNTBBMfK PARS**'*. 


The Ewopran office of a major irtano- 
bonai magazine a odtfng a young, 
■mop native Editor to rta Poro-breed 


mid guarantee* »W car will 
pan all US. government standar ds 
or yow money bade inducing 
onnwran cast. 

Write or phone fix Free brochure. 
GERMANY JO) 69-7152425 or 


* Worldwide deSvory of new and 
used European cars. 

* Conversion to your nafcond 


Candidates should send rletoied re 
swne, mdutfcig samples of wot*, to 
.Bcw 2980, Herald Tribune, 

92521 NeoSly Codex, France 


Write or phone for 
GERMANY JO) fi 

(0)7031 /. 


SB 7031 / 223059 

AMERICAN INTL UNDBtWHlBB 


OberGndau 7678 
D-6000 Frankfurt/Mon 


• Conversion to your naMra 
specs. P’A/DOT) 

• USA defiwy via LA. & N.Y. 

• Our own tranport-sMpping- 
■nsuraneoiiiport-boneSfig 
and waranty prtxyaD 

• USA/CANAOtANipoci. VCXVO"S 

GA MIHtNATlONAL 



The Associated Pros force 

BEIRUT — Two prominent A-M. 
Christians were freed Tuesday by Tht 
Moslem kidnappas. blare* 


Mr. Aarvik praised tne oociors 

ir, C for informing the public about the 

fOn* deployed m West Beirut at 5 pn ^ war wiLh detailed sden- 


tifi f! evidence about “the atomic 
The orders to nutitia members winter with its destruction of the 
ared out Tuesday over Beirut Ra- biosphere and all conditions neces- 


trofcd ootor T.V. [11 chomwl MtaSN 
rintwaric in Engfito, German, NaEav 
French). 5 convnu i un roans, 2 rettau- 


LOW COST FLIGHTS j «**, bar, bauSquM mi priwsre They were brought to the home 


DOCTORS (MJD.) WANTH) to pro- 
vide cansuuaiion & endonetnanr inr- 


14, Sdu j fBiroat. 


vide consumtion S endonemar W- 
«ai far U5. coonstics oompaiy. Ub- 
erd remunenrion for 1 day/month. 
Seebng [Antic surgaon, dormatolo- 
mtt, avd del or nutrition tpaciafiit. 
krterviewing London Doc. IS. For op- 
pomtmont contact Mn. Sheridaa 
phone number London 445 90 68 
awRmsnm botwoen 5 4 ltt 


BP A/ DOT 


Halcmd. 

161 Gant/NL 


* Superior Bngfnearbfl • i 
Cuttau Qwutmeu 1 Bandbg * 


GENERAL 

POSITIONS WANTED 


COJD. AUTO DiSTWBUTORS 
CHAMOIS OF OBSE 

P.O. Bax 2 77. Jambm, PA 18929 „ A** 

Tele* 705514 Q15) 343J243 ^"3° 

Do Nor Mtdtu 11 m MMaim Of ?00“' and 
Converting h Europ e 


TRANSCO 


KHANDAIR 
LAST MMUTE FARE 
raevalign au tho riz ed witfam 
3 days prior to depertore 

UNIQUE PUCE 

To 

NEW YORK, WASHNGTON (BW1) 
OKAGO or DtTItOfT 
from LuxBrabourg 


S8 BM Victor Hugo - N«atv Mosie™ ladnappffls. blared out Tuesday over Bdrut Ra- biosphere and all conditions neces- 

Aftrocti wt modom hotri in boauriu Munir SImbm, a phyridan, (jjg after Prime Minister Rashid sary for Kfe." 

““ SalamdL a business- KaramL who secured militia agp»- Atomic winter, or nuclear win- 

330 room - aoch with remote eon. man, were abducted by three gun- ment for the new security plan, ter refers lo the theory that a major 

weekend whDe driving in warned that the accord “is our last nudear war would so pollute ihe 
French). 5 oonSSw roowCfr rettou- ® cirut * , , . , chance to avert total collapse.” world’s atmosphere that tempera- 

SV". 1“ Police said at least 68 people tures would fiff for months, or even 

j bgjn Sfls - doridn Si 03. 20 i&«fcoaiutf Hussein ^ 11^1 and more UimMO years, killing many plant and ani- 

of&ad on presuntoboo of Ha od unU Fadlallah, a leader of the Hezbal- j j , 7^ ' r 

Aprairi. i%6. For retorvriam «a lahTradicfll Shiite Moslem wom wounded, most of them Civilians, m malspeaes. 

33 fi) 47 58 u oo. Tht 610971 days of street fighting last Mr. Aarvik also lauded the doc- 

' Shammaa, the head of the abdomi- mon ?- ^ toe tors’ suggestion that money now 

M/v tstAim exhchrs nai department at the American toU w*s four times thatwhen teuton aims be used to fight hun- 
Uni verity Hospital and Mr. Sala- casaal£ics ^ mduded. ger and to improve health care 


■ Stockholm Award Ceremony 

The Nobd prizes in science and 
literature were presented Tuesday 
in Stockholm to five US. scientists, 
a West German physicist and a 
French writer, The Associated 
Press reported. 

Two American doctors. Michael 
S. Brown. 44, and Joseph L Gold- 
stein, 45, received the prize for 
medicine for their research into 
how the body handles cholesterol. 

Two other Americans, Jerome 
Karle, 67, and Herbert H. Hanpt- 
man, 68, won the chemistry prize 
for developing methods of deter- 
mining crystal structure. 

Klaus von Klitzing. 42, a West 
German, received the physics prize 
for a discovery that changed think- 


1 

%•* ;• 


ing on how electrical conductivity 
behaved under varying magnetic 


April Is*. 1986. For resendiani a 
33 P) 47 58 H 00. Ibu 610971 


aALL HHN A-Frivcte Aerobic kiriructor 
NYQ nala position, fat futhur infer- 
motion crib 212734-9240. 


TVE LARGEST SHOWROOM 
AND STOCX IN BMOPE 
Keeping a emtail node of more Hum 
300 Brand row c m i of di Europam + 
Jc^xmeio mdeu* compohvdy prioad. 
Trot freu ito — sl i ki iii i ifl I m un m cu. 


On* way - about US! 
(DM 499, BR 999 
(SHI 449, H* 159 


AUTOS TAX FREE 


Tax few w tos sb j p i m w ku u m aro. 
Send fur muMuator ftw ot M o j u . 
Trmoo SA, 95 N oo nl lfa ro , 
20BQ AnlMiu Balcvnm 
Tel 3^M2 6240?x35WTnns 


Round Trip (7-21 days) 
irixjuf US$4llO (DM 9991 
1 19,980, SR 899, m 3290) 


OfUANDO w way Mrout I 
round (rfecfcaafl 


SECRETARIES AVAILABLE 


UOOHNG FOR TOP BSMs'SGUALpw- ! 
mnaRCbU ihe smarts G8BM I fcHM. I 
Mn Muler 47 58 * 30 Pbri 


FRANCO 


Mn Muler 47 58 I 


DOMESTIC 

POSITIONS AVAILABLE 


HOUSWOU) MANAGEMBUT pod- 
lion avidabb. Must hav* driven S- 


So>!t*-y oommensurotn wilb ex- 
9e. Write with mm to, L 
; P.a Box 15, HuiraMadvfle, I 


DOMESTIC 
POSITIONS WANTED 


OBLDRB<rS NURSE, very 
encud urilh dddren, bfeMy 


mended by pad en mfayw far her I 
effiaoncy, exro & Undrmtofiedii' 


•ffiuniey, roe & 
drien. Frm Jounua 
torts, 7 High Si, A 
0252315369. UK 


.fry Staff ComuL 
onhat.Harts.Tet 


B4GUSH NANMB 4 moften' helps 


Noth Agency, S3 QwdiU Im, 
Sussex. UK. TeE BripMon [273 29044 


BRITANNIC 

TAX RS CARS 

ROUS ROYCE 
BENTLEY 

JAGUAR 

ROVB? 

RANGE & LAND ROVS? 
European delivery 

21 Ave Kleber 

75116 PARIS 


OCEANWBX ?■„ 
MOTORS GmbH 

Smob 1973, experiunad cor trader for 
Mmxzdcs, Poncho, BMW, Japucr. Lm- S™ 1 
medlrte deBvery. Imparl/uxpart, U5. 


Far further i nfa nnrtioncxid renrvorion 


KHAMMUK 

rn;: 29 99 78 
pq 218 0680 
4798 2470 
DI) 363 0000 
P) 47 42 52 » 



Universr 
meh had 


Mr. Aarvik also lauded the doc- 
tors’ suggestion that money now 
spent on arms be used to fight hun- 
ger and to improve health care 


held by relatives of a There was widespread skepti- around the world. 


Shiite man kidnapped by Christian cism that the militias would actual- Dr. Lown underscored the no- 


militias. He gave no details. 


Iy hand overpower. Sources report- tion that the doctors had succeeded 


The freed men said at Sheikh ed that Druze and Amal leaders where their governments, at least in 


Fadlallah’s hrwtn* that they had would seek to form an “emergency recent years, had failed. 

been treated welL but blindfolded force” to maintain an armed pres- While observing that the meeting 

throughout cantivitv. cnee on the streets. last month in Geneva between the 


BOOK WANTED: any u ndritfaud 
copy of “My Secret Life - by Wafw. 
Wriie Prudhanmo, 62 Rue FSecre 


oo am. VABCmnoo mOKJrS unun, 

Tunteogeretr. 8, 4 Puetiuldo rf. W . 
Gammy n 211-434646, Ifai 8SV374. 


Bronolalfe. F-92500ReuL 


throughout captivity. 

Radwan Mawlawi, spokesman 
for the American University of Bei- 
rut, had announced earlier that 
they would be released Tuesday 
evening. The anno uncement avert- 
ed a strike at the university hospi- 
tal, Beirut’s main medical center, 


behaved under varying magnetic 
influences. 

The economics prize; established 
by the Swedish central bank, was 

f iven to an Iialian-bom American, 
ranco Modigliani 67, for his the- 
ories on savings and determining 
the value of businesses. 

Claude Simon, 72. a pioneer of 
the French nouveau roman, received 
the literature prize. 

The Nobd prizes, except for the 
more recent economics award, were 
established in the will of Alfred 
Nobd, the Swede who invented dy- 
namite. Each of the prizes this year 
carried a stipend of about 
5225,000. 


Argentine Verdict May Prolong Debate 


(Continued bum Page 1) 


by workers protesting the physi- • . 

dan’s abduction. be important m the prosecution of 

The release of the two men came otter officers. 




w;i 


NEW MERCEDES 

PORSCHE FROM STOCK 

B«cf aatwiro, «kfoping, ainroiro, 

RUTE INC. 

TA1MJSSTR. S3. 4000 HtAMORJRr 
W G«m, lal (0)69-232351, tbc 411SW 


Pfara Your Oassffifld Ad Quiddy and EasBy 

■BUM 

INTERNATIONAL HERAU) TRIBUNE 


as Moslem leaden Tuesday or- **Tbey are no small number,” he 

■ - _ _ _ ■* _ J _ tf aL 1 J. - 9 4 “ . J _ C 


AUTO RENTALS 


CHAHC KBIT A CARS. FVestni oarj 
with pho o ai Huh Spur .Spirt, rorrari, | 
Poncho, Mtfctxfei. Jaguor, 


(1) 4757 5080 
Telex: 620 420 


EUROPORT TAX 
FRE CARS 


By Mmhw: Co* your local IHT raprarortrtiwa with your hudL You 
wil be in f o iiw ad of the cart inniwfirtrty, and anca prap uyu w ul it 
made your ad v*3 appear within 48houn- 
Coat: The broic rota it S9J0 per fine per day + local lotei. There are 
2S leitere, agM emd ipaca in die fim fine arid 36 et ihe fakwing Dm. 
Mmun space it 2 faw, No afabravicriionl inajilil 
Crodft Cades Amerkxai Express, DtnerYOub, EuroconL Master 
Cardl Accec teid Visa. 


Cali or Mrita far free catafea. 
Bax 12011 


fSADOFVKE 


LATIN AMERICA 


Porww, Mtfcedes. Jagucs; BMW, 
Emousm, sndl cars. 46 r Pierre 




Aepesf, HeBaed 

iitwasari 


Prole {For Jus tified oriy)i 
P)47^7A6CO. 


Buew e Alwei 41 4031 


(Ctapt.312i 
Caracas: 3314 54 
Go uy o tp t i. 51 4505 
tan 417 852 
tatana: 69 09 75 
Srottiago: 6961 555 
Sao Mae 852 1893 


Qtarran, 75008 faro. Tel: 47203040. 
Tele* 630797 FCHAROC 


TRASCO 

LONDON 


RJROK 


AUTO SHIPPING 


Worldwide Car Sfeyafl 
TRANSSI B* Ga*fi 

%Ti.-Sraidt-Str. 58/60 
2800 Bremen 1 

tefc (0)421/14264 Thu 246584 Trans D 
Be> den Muehren 91 


The Mercedes Spedafist 

Stretched Limourinn 
Aimourod Cco 
Goadibuh Cbrj 
BIAS DOT 
\a0 Unto is Stock 
Diretf ham Sources 
Worldwide Delivery. 


EXCAUBUR 

The 1986 &aAur a now aialabieb 
Tne most luxurious over bu3t Ctxmoly 
ieodter & cwrtlra other features. Stan- 
dard 305 CLengfae or iht l-figh Output 

2574 79, tehee 479550 MC 


MJLMOSLMOSLSOOSECnew 

tofisRoyceSver Spirit ‘85.7iX)0 km. 


2000 H amburg 11 
Tel: (0)40/373703 Thu 214944 Tram D 
abo DOT/EPA + bond in USA 
Member of AKA, Wbsiwigtan 


65b& Berk lamv London W.l. 


Ito feltayroS W Spirit -85, km. 
I^aiboratam Caurtadi new, Ferrwi 
308 Gft row. PKT. Beigwrs Teh 
03/231 J9JXL 


I 8956022 Tra G 



Germany - London ■ Switzerland 




DAWAJI TRADE 

INTL DGUVSY 



Amsterdam 26-36-15. 
Al b en m 361-8397/36&3421. 
bvttala 343-1899. 
Cnp e nh apa nj (01) 32 9440. 
FranUurt: (069) 72-67-55- 
fflnami 29-58-94. 

Usban: 67-27-93/663544. 
Laodanr (01) 836480B. 
Madrid: 455-2891/455-3306. 
MBaro (02) 7531445. 
Norway: (02) 41 2953. 
Rama 679-3437. 

Swrodaw (08)7569229. 

Tal Aviw 03455 559. 
Vtomsa: ConMct Frankfurt 


tiered th«r mhiriamen to lay down toe hundreds of a dd itional 

their gm« at dawn Wednesday officers accused of carrying oat the 
when a joint army-police force is reprKaon ordered by their superi- 
due to take over security in Beirut's ora “There are many officers who 
Moslem sector and try to end 19 on record as accom- 

months of anarchy under militia in this c riminal p lan . " 
rule. The armed forces and conserva- 

Leaders of the Druze Progresrive tores in civilian ranks who have 
Socialist Party.'and the ariite Amal opposed further trials took heart 
movement, the two mast powerful that future hearings would Hedy be 
Moslem factious, warned their men hekl beforc a military tribunal raih- 
not to carry weapons in the street ® than a civilian one, The civilian 
or wear uniforms when the security trial that ended Monday was an 
unprecedented occurrence here. 



and the three military rulers during 
the 1982 Falkland Islands war 
against Britain — General Leo- 
poldo Galtioi Admiral Jorge An- 
aya and and Brigadier General Ba- 
silic I .ami Dozo of the air force. 


The three still face charges be- 
fore a military court for Argenti- 
na’s defeat in the South Atlanti c 
conflict. 


•HOME EAST 


Bcioniu 246303. 
Kara*: 5614485. 
Ufarao n: 341 457/8/9. 
Ooton 416535. 


They also found some solace in 
Strike Is Voted at UNESCO toe sentences already delm^ 

_ . which were less severe than had 

Tk* Assadaud Pna* been expected in most instances. ' 

PARIS — Employees at the But Argentine human righ t* ac- 
United Nations Educational, Sc i- tivists condemned the ra^gs as 
jantific and Cultural Organization weak and unacceptable, 
voted overwhelmingly Tuesday for Hundreds of people 


Emilio Massera 


and robberies. Both men were sen- 
tenced to life in prison. 

. But in ■'Other rulings, the six- 


Tbe court ordered the five for- 
mer commanders who were found 
guilty to be stripped of their ranks. 

Several leading politicians of 
President Radi Alfonsfn’s Radical 
Party as wdl as the opposition Per- 
poist movement said the court deci- 
sion, while unsatisfying for many, 
would contribute to stabilizing and 
strengthening democracy in Argen- 
tina. 


Carlos Grosso, a Peronist con- 
gressman, said that the decision “is 


Hundreds of 


,'twfiu. fj.U.-xT r. nr. -I.tr I j 6»w winau . MIU UUL U1C UCUSKH1 IS 


aooe-day strike Wednesday to pro- through central 


prison terms of four and one half 

le marched years to 17 years to three former 3X ' f JS? P»plA 

mcmba^id acquittal four ftl'SS'SS 


JotMak 667-1500. 
UJLE: Dubai 224161. 


test the organization’s personnel Monday night shouting “National others, 
practices and to obtain partkapa- shame!"’ in a montimeniui nmtKt 


mil CAST 


practices and to obtain partkapa- shame!" in a spontaneous protest 
tion in administration decisions on against the verdicts. 


staff dismissals. 


UMTEDSTATVS 


Wo loMp a I araa rtock of 
owjj cor Ennis 





WORLDWIDE 

ENTEHXAINMKNnr 


snamei m a spontaneous protest General Roberto Viola, who suo- 
against the verdicts. ceeded Mr. Videla as president in 

Hebe Bonafini, the presidenz of 1981, was grven a 17-year prison 
the Mothers of the Plaza de Mayo, .- 'term. Admiral Armando Lambrus- 


a group of women who say their chini, navy commander from 1978 
children and relatives were kid- to 1981, received an eight-year sen- 


Now York (212) 752-3890. 
Wort Court: (415) 3628339. 




mad cor brands 
M- 02/648 55 13 
Totax 65658 
42 rue Loro. 
1050 Brand*. 


AiwnmiA 
rano: 690 8233. 


lZ.av. georguV Kd. 47 23 3 2 Zi 

PfiRIS - FRfiNCE 


napped, accused the court of “ab- 
solving criminals.” 


HEALTH SERVICES 

Gpomc MOOT. Artoriox PW 


SOUTH AHUCA 


Sy*bW£929 56 39, 957 43 20. 
farfc 32B 96 33. 


fartb: 32896 33. 
farfifcigfen. Qm 

3693453. 


ESCORTS & GUIDES ESCORTS & GUIDES ESCORTS jl GUIDES ESCORTS A GUIDES I ESCORTS A GUIDES 


INTERNATIONAL 


ESCORT 

SERVICE 

USA & WORLDWIDE 

Head office m New York 
330 W. 56* St, N.Y£. 10019 USA 

212-765-7896 

212-765-7754 


AR15TOCATS 

LtotiLrti ftmrf Sgfvlei 

128 WSgmoro St, Lmfon W.l. 
Al ntaior Cretfit Gnk Accepted 
Tet 437 47 41 / 47fl^ 

,12 noon - aidn^it 


ZURICH 


Tab 926 30 10 or 2S1 66 M. 


Carofaa 1 * bcort & Tiroal Swyioe. 


i EtcartSarviro 0211/3831 41 


Sarriro. 212777-5543. 


London Town 


* Madrid Taste * j 

Emrt Sanfcoi. 4177257. Onto 




9M9BWWT A AKA. SMfiOWS bi- 
■wart trot aid travel teniae. Tet , 
6Z88 05. QaM oonh onaw tod. 


ESCORT SBtVKE 
MORMNGS THL MUNKSHT 


«W WOO ASBVCT. London. 
Tat 01-675 7838, naawnij i u rt d 

MUSSELS «* 7AMBA-S ESG0« 

and Guide Service. Trt02/S38 19 37. 



tence. A Conner air force com- 
mander, Orlando Agosti, received a 

“It seems terrible and tragic to sentence of four and one half years. appeal 10 inc supremt 

me,'* said Mrs. Bonafini, wfaosetwo Geared of all charges in the dis- Court, 

sons are among the mi«tng _ “It apprarancm woe Brigadier Gencar- Lawyers for Mr. Massera anc 
seems a fraud." ** Omar Graffigoa, who was air Mr. Videla already have an- 

However, the court action ap- force commander in the first junta, nounced that they will appeaL 
pcared to serve as a new spur for 1 ~ — * 

civiLrights groups and some politi- p _ . 

raSrtErtI?£iSS%'. *^SyP tan d Israel Are Reported Qose 
^fSSL^SrtSC To Agreement on Taba Coastal Area 

two osuiitriex fust attempt to reach 

not the last recourse against those Modie Sasson, who also is partid- movn^^arbiS'uL 
reqxmsibleforthe itpression, add- paring in the Taba talks, said that riHaticm faded. ” C ° n " 

ing: “The Jews are stffl hunting the Egypt was expected to turn over Mr. Shamir anmeri that if 


for the consolidation and stability 
of democracy." 

Julio Strassera, the federal prose- 
cutor who had asked for life impris- 
onment for five of the defendants 
and prism terms of 10 to 15 years 
for the rest, said Tuesday that he 
was studying the full 2,000-page 
written verdict before deciding 
whether to appeal to the Supreme 
Court. 


Lawyers for Mr. Massera and 
Mr. Videla already have an- 
nounced that they will appeaL 




724 2972 OR 724 2952 


MAJOR CSHNT CARDS AND 
CHECKS ACCHTHJ 
IV hrata Mamba, rfilpi AwaMria 


LONDON ACE 

&twT Servian Tet 584 3777/8/9 
Crodt Cord}. 11am ll aiiW tfV 


1 Stvkb. Tet 01 821 0627. 


022/34 29 55. 

AMSIBBMM BBMADB16 MA1£ 

and Fr mcie EmoH Service. (CQ 20- 


ZUgm iOgN ESCORT SHTVKX 

Tefc 01/69 SB 71. | 


mi HORSE 


Mrs. Bonafini said the trial was 
not the last recourse against those 
responsible for the repression, add- 
ing: “The Jews are still hunting the 
Nazis,’’ : • • 



Mr. Shamir argued that if ariri- 


award mb wl ra wnriro bat 
boon featurad Hlhital mart 
madam* Escort Service by 
USA A MamaKand now* m sifa 
I n do tSn g radio and TV. 


REGENCY NY 


1146 (from 4 pm to 10 H 


HUMOURT -TOP 1BI" Eror Sw- 
not 069/3960-52. 


WOmnMDE ESCORT SERVICE 
212-438-8027 or 7S 3-1 864 


MUNCH -MONDYCTANM Boon 
Service. Tet 311 79 00 or 311 79 36 


far and away 
the bast nude revue 
in the world 


Leader of the Jewish Movement 
for Human Rights, Henrior Schil- 
ler, condemned the verdict, saying 


A. n„. . ■ u ■ <u£ucu LUcal U i 

theRas Bmka report as soon as Irauon favored Israel, it would 


(M-ttib " . , — r 11 wuuia ae- 

^ lenaon between the two coun- A 
The Isradi and ! Egyptian ddega- tries that would further «*n « ^ 


lions completed three days of pre- 


it iras “an insult to the itate rf Stoupr talks ^.Caiwon Wedn»- 
. day, during which Israel for the 


rat would further stall a 
tion of fall relations. 
iis part, Mr. Mubarak insist- 


★ * GBEVArflRST +* 


MADRID IMPACT oMort rod guide MMpI - PRIVATE ESCORT + 


Guido Servicn. Tek 91 23 14 


EktoI Sarvica + weekoed 86 05 1 9 J “OMI WM ESCORT Sniro. W«M ISjE 


NEW YORK CITY 


CAPRICE-NY 


EXCURSIONS 


E5COKT SERVICE 
EXCLUSIVE & EXPB4SIVE 
7 DAYS - MAJOR CARDS 


escort sanna in new ygrk 

THi 213-737 3291. 


GB4EVA ESCORT 

SERVKZ. Tefc 46 II 58 


Teh 01-373 8849. 
LONDON BCOBT 


Service W 20964376 


at the bar only 2 5 0 f r i 
•15 ■, p r vi;? charge 


AGBfCY. DOMUMOU! i ESCORT SBWNX. 

Tel: 935 5339. London 402 1963 or 289 7V72 

U3NDON BCORT SERVICE. T«L 937 nMNKnjRrJBMYBCORTatravd 


The court canricted a former 
preadeut. General Jorge Videla, 
and a jtintH member, Admiral Emi- 
lio Massera, of numerous homi- 
cides, .illegal detentions, tortures 


first turn agreed to discuss the immediately because contacts be- 
l ^ ntratlon bvecn the two countries lSfa^ 
toe Taba impasse, lo produce an agreement 

teiSS ^ ^radi-owned luxnry hotel 

^ of ForaguMhnster Yitzhak was completed later on the me- 
Shamir, had demanded that the shaped pared of disputed land!* 


Mrwca 069/5572-10. Crodt ctetk. 


(212J 517-7803 


MAYFAIR CLUB 


LONDON 

KENSINGTON 

escort sbivice 


ESCORT SERVICE fool 5po» 
ROTTERDAM (01 10-254155 
TIC HAGUE (6) 70-60 79 96 


LONDON BEST BCORT SBtVKE 
Horthraw on) Crorird London. 
Cra* Canrk Ret 235 2330 


ATHENS BCORT AM) CUBE Ser- FRANKFURT POLAND BCORT Sor- 


wce. Tet 8066194. 


via. Teh 069/63 41 59. 


LONDON G W1E ESCORT ServiasJ RANNWr. flfiWCS ESCORT 


Tot 378 7151. 


TaL 069/84 43 75 or 84 48 76. 1 


**A-*6*GENEVA BBT -SoMSrovia 834 0891. 


CRISTA, LONDON SCANDMAVIAN HAMBURG -MADEMOtSBlE Enrol 


(MO/55 32914. 


BCORT SBtVKE. 022 / 86 IS 95 1 HONG KONG: VIW I ^ATTOOW^LOWON BCORT Ser- 


10 KBI5MGTON CWRCH ST. W8 
TEL- 9379136 OR 937 9133 
AM Mopr mfl tank oeeaptad. 


* LONDON CHB5EA * 

ESCORT SBtVKZ. 

51 Beouc h o mp Ptooe, SW1, 

Tefc 01 584 6513/2749 (4-12 pm) 


Sarwee. jCwdoon 7243301/668480 I via Tol 994 6682. 


COPH4HAG»l AVb Scroxfittavian Ej- 1 KAitBI FRAMCHiRT BOTRT Service 


GENEVA * BEAUTY* 

ESCORT SERVICE. 022/09 ST 30 


con Service. Tel: 01-54 17 06 


Tet 00/8842-88 


LONDON 

Portman Escort Agoncy 


ZURICH 


67 CMtom SlrMf, 
London W1 

Tat 486 3724 or 486 1158 
Afl major crsdH erodr aaropfed 


AUEXtS ESCORT SBEVia 
IB: 01/47 SS 82 


** ZURICH 558720 ** 

Mrafe Taarfam Gaida Sarviea 



MMWD NEWLOOK ESCORT onl 
G^S«rnro.Trt:2OT995.Cardi. 


MILANO 4- UIGANO BCORT Sor- 
ufea. Tet Mara 02/685035 


LflNDCN PARK LANE fscort SeivicA XONCORDE ESCORT S«- 


Tet 01-821 0283 


vira. Tat 91 84 59. 


„ AMSIBDAM SYLVIA 

EfeOrt Senrico. Tat (0) 20-2B191. 


LOTfflON OOB4TAL GUBX Seiviro. BIWPS ESCORT AGENCY Iroidon. 


Td: 01-243 1442 


Tet 01 -243 0785 


V fledeKasfumr & 

j&tkonfy KflsftmM liousefioat ;icstaunmt' ■ g 
mend otitfit Seine-' 

■ icqueststfiepfeasurei^yw 
to agmwllnmmm fajfa mcheoti 
at tkjar&n t ksfatfbmr 
oratraditionaCTiM 1 6mc&atLeLotus ’ 
.Qxa/^tftkweek . 

.■■(Sirinj this smontffpodthw.. 

At prices thtwillcnccm^ym lo erne again. 


VnityOt 


TAJUAN RESTAURANT 

*lro,ln*»»tavddb»lB«*hS8F.E-m» 

0 9 - roan 13 to 1030 on a 


I SO FA 120 9 - taw 13 to KUO pro d. SirtS 

LArfroaSroMA H r. du Jour. (qJ£33a?iR 


**rW<5*2l.»Bv*rti 

srf ?“* to* * Kn, »- 


ZURICH 


| ^B3S»-nuw 

hmS s ™*' 


SronanHia tea it 4- slide i 


* LONDON ★ 


«na aemr + aarte i 
Tet 01/57 79 96 


I Service. Tet 069/1344151. Cradrt cafek 


JOGOIDGNBBtG 

BsdtoBoipe |1)4Biffl2bT6ro JaWTO®. teu- 
wejiirtiiieira e grp/tm Ero n. 


lacalavados 

« #* l*» Jro Turner. TraddandCddro. 


XANADU BCORT Ser- [ MADRID GOLDEN BCORT & Guide 


EXECUTIVE BCORT SERVICE 
402 7600 or 499 2225 


* JASMINE * 


wo. Tel 75 57 20. Service. 2623711-4559126. Crodt 

S^SMOW/nSSMS D 9*'i N * AMS1BMM ESCORT AMSIBDAM MOOBN ESCORT 
roraro. ■etuw/ij44i38.Cr 9d t oonfc Gurte Service. Tet 10201 762842 Service. Bfl 2M27469. 


Cui* Service. Tet I 


LONDON 

BBGRAV1A 

Ewsrt Service. 

Tel: 736 5877. 


AMSIBDAM ESCORT SERVICE 
020-366655 


I GBtEVA-HEUNE ESCORT SERVICE 
Tet 36 29 32 


1OW0N R9CH S9EAK1IG Ewrol BRUSSBS. ANTWBP NATASCHA 


Seryfee. Tet 589 


bcort Scrviav Tet 02/7317641. 


MADRID SBECIIONS. BCORT Sro- 8RU5MS. CHANTAL ESCORT Ser. 


ZURICH-GENEVA 


LONDONGOME ESCORI SBVJCE. 
Heahr o - 01-328 9763 


vice. 401 1507. GerfitGrode. 


Tet 02/530 23 65. 


GMGBfS ESCORT SBVKZ. 
TB.-01/363 0864-022/3441 86 


AMSIBDAM JEA|«r Ewirt Srovw 
Tet (020) 3S6420 or 3401ia 




BMOWJRI - EVA’S BCORT & hmL 
el sendee. Tet 069/44 77 75 

ICMNXI DBCBtNMGESCORT Ser- 

vke (Dll 961 0154. 


CHABENE GENEVA GUBE Service. LOMJON OLYMMA ESCORT Sro 


Tet 283-397 


MuMngwL Tat 381 6852 


Portable bookingscaD: 4723.77.78/472330.97 . 

ILEDE KASHMIR . 

Quai Debilly, en face du 32, avenue de New York 
Paris, (16®) 

Ample parking space available. 

We are open for dinner loo, every night 


ieprocope 


JSS2®S!5!«5 S«b 


firorti cocto, vA fa* rortrt pvduro 

««esaaaarip 


I + 4b G mi 13 me da rAnd m aa (jaSu ^ 


LE SAINT GBtMAIN DE U MB 

T w w I fM efbtoera^ifeHfc GMrt mra rod 

tehid 1 Oriag ■ nif6V i>hj mniabi 9 ns 4, 


KaVANSARAY 

rafart 


I Mrtfartr-9. litsmSX 




•• ; 


f'T rt 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 11, 1985 


Page 5 


Cranston's 90-Day Mail Bilk 
$1.6 Million in U.S. Funds 


Lot Angela Times Service 
- WASHINGTON — Senator 
Alan Cranston of- California 
spent more than $1.6 million in 
federal funds, twice as much as 
any other U.S. senator, on mass 
mailings to- voters m the three 
months that ended Sept. 30, a 
Senate report says. 

Mr. Cranston, a Democrat, 
faces a difficult re-election bat- 
tle next year in California: He 
spent $1,631,831.95 to mail 6.4 
million newsletters and 5 m3- 
bon announcements of a series 
of community forums he con-, 
ducted last 'summer, according 
to the report, which was issued 
Monday: 

Responding to the report, 
Mr. Cranston said, “That's a lot 
of money, and if s easy to get 


excited about.” But, he added, 
“1 am sure my fellow Califor- 
nians will agree -with me that 6 
cents per person is a reasonable 
investment for communicating 
with their senator." 

- The report represented the 
first time the Senate had pub- 
lished the expenditures of sena- 
tors on mass maHing,.or [rank- 
ing which allows members of 
Congress to send mail to con- 
stituents at taxpayer expense. 

Mr. Cranston's expenditure 
was about twice that of the Sen- 
ate's second-biggest spender. 
Alien K. Specter, Republican 
of Pennsylvania. Mr. Specter, 
who also is facing a tough re- 
election battle, spent 
$789,1 89.03, or 6.6 cents per 
constituent 



Union Faces Uphill Drive at Honda Plant in U.S. 


Alan Cranston 


By Kenneth B. Noble 

Afoul York Tima Service 

MARYSVILLE, Ohio — As hundreds of 
automobile workers attend to the Honda 
assembly Hne here, many of them wear but- 
tons with the emblem of the United Automo- 
bile Workers cut in half by a diagonal red 
dash 

The buttons, distributed by a group of 
employees, are a symbol of opposition to the 
, union's uphill drive to organize workers here. 
If it succeeds, it will be the first time that the 
UAW organized a Japanese-owned automo- 
bile plant against company opposition. 

The union vote, set for Dec. 19, marks the 
first confrontation of this type between Japa- 
nese management practices and American 
labor principles. Other Japanese companies 
that have invested in the United States are 
watching it closely, for they see the vote as a 
measure of labor’s strength. 

Wages are not considered a factor. The 
issue that may win the election for the union 
is the speed of the assembly line — the 
number of cars that workers are expected to 


build. Union sympathizers say speed has 
been a constant source of friction. 

The line currently assembles 600 cars a 
day, with 2^00 workers on two shifts. Sever- 
al American-owned plants are operating at 
the same pace, but union sympathizers say 
those plants have more workers. 

As for the buttons, union officials are not 
amused. 

"They’re running a dirty campaign, and 
■we’re going to sue the pants off them," said 
Dick Olsen, a union spokesman. “It's more 
important for us to defend the emblem, real- 
ly, than it is to win an organizing drive." 

So far, union sympathizers say, the United 
Auto Workers have received little encourage- 
ment. Both rides agree that Honda is unusu- 
ally immune to attacks. There appears to be 
little rancor between union and management 
over pay, benefits or possible layoffs. 

“Quite frankly, wages are high for the 
area," Mr. Olsen said of Marysville, which is 
30 miles (48 kilometers) northwest of Colum- 
bus. “That's not an issue. Most of the people 
here have pretty positive feelings both to- 


ward Honda and the Japanese, and we're not 
looking to rub anything like that at all." 

Gordon Gray, who works in the welding 
shop, said he was undecided about the union. 
He predicted the vote would be close because 
most of the workers “are really happy with 
the Japanese — they’re pretty smart, and 
they know how to crank out cars." 

The workers, he said, are “making 12 
bucks an hour, and can't really complain. I 
don't think well get a whole lot more out of 
Honda, even if the UAW gets elected." 

He said the main issue was speed, noting: 
"People who have seen many different kinds 
of plants say they've never seen people work 
so hard. They're really pushed to the limits.” 

Becky Grove, an assembly worker and the 
leader of an anti-union faction known as the 
Associates Alliance, said there was uo need 
for the union. 

“There just aren’t any problems like you 
find in a lot of places." she said. “They've 
given us so much. And any kind of problem 
we have, we can work it out ourselves. We 
don't need a third party to run things for us." 


The entire operation, situated nine miles 
outside of Marysville, has a Japanese flavor. 

The wliite uniforms worn by all employees 
are .similar to those worn in Honda factories 
m Japan. So is the practice of referring to all 
production workers a? “associates." They are 
required to (earn a variety of skills, unlike 
most employees in American automobile 
plants. 

Perhaps most siriljng is the homogeneity 
of the work force. The average age of the 
assembly line worke r appears to be 25. and 
virtually all are whi tc. 

The mi Uion-squ: ire-foot (90,000-square- 
meterl factory opened six yean ago. the 
second foreign -owned passenger car assem- 
bly plant in the U nited States and the first 
owned by a Japan sse company. 

Toyota Motor Co. has agreed to union 
representation without a vote by the workers 
at the plant Lha 1 . it operates jointly with 
General Motors in Fremont. California. Nis- 
san Motor Co. has vowed to resist any union 
organizing effort at its plant in Smyrna, 

Tennessee. 


■*; 

y *** 

l ^« 

■oas ■ 


West European Concerns Look to Japan for Lessons in Competing 


Japan's Ministry of International 
Trade and industry, known as W1 “ ”. re 
MITI. That compares with 749 of- “ Wcs 
fices maintained in EC countries by ***■’ 
Japanese companies, employing “Shtback. 
nearly 24,000 people. " * notab] 

• Last year, 8,36 1 Japanese busi- Ja J 


which are held in Tokyo, "erabar- In another big market, that for cbinet, France's state-owned met- 
res singly inadequate compared compact disc players, the 19 per- aliurgical company, have started 
with the real problems." cent EC tariff will not be reduced, joint companies in Japan. Several 


So West European companies despite Japanese objections. Mr. dozen other companies say they are 
arc learning on their own how to Fielding described the EC firmness planning similar moves, 
fight bade. as “a legitimate response to preda- Entering the Japanese market is 


• Last year. 8,361 Japanese busi- 
ness executives were moved by 
their companies to the 10-member 
EC, while only 1,000 business exec- 
utives from EC countries traveled 
to Japan with visas for stays of as 
long as three years, according to 
Japan's Ministry of Justice. 

EC officials in Brussels who deal 
regularly with Japan say that West- 
ern Europe's pom: showing in all 
these comparisons stems from Ja- 
pan's long-established obstacles to 
trade and investment These re- 
main formidable, despite continu- 
ing political pressures from abroad 
to open Japan’s markets. 

“The Japanese investments in 
Europe start with great advantages 
— unexploited locations, nonunion 
labor, generous government finan- 
cial incentives and the like,” said 
Leslie Fielding, the EC’s director of 
external relations. 


A notable example is an industry 
that the Japanese have publicly tar- 
geted for worldwide dominance: 


ducers have seen their share of the dumping duties. These are penalty '“Since 1982, the Japanese gov- 
world electronics market slip from fees imposed by governments on eminent has announced seven so- 
33 percent in 1978 to 23 percent in manufactured goods sold below the called packages of market-opening 
' 984, a trend similar to that in the cost of production in order to enter measures," he said, “but they have 


as “a legitimate response to preda- Entering the Japanese market is 
toiy pricing practices threatening proving to be exceedingly difficult, 
our industries.” according to Mr. Fielding, who has 

He was alluding to another barri- served as the ECs ambassador to 
a against Japanese imports: anti- Japan. 

dumping duties. These are penalty “Since 1982, the Japanese gov- 
fees imposed by governments cm eminent has announced seven so- 


The real problem with the European Community is that they want 
the fruit, but do not want to grow the plant. This is unacceptable to 
our government.’ 

— YoshUdko Saeld 
Japanese diplomat 


sales of European automobiles, markets. During the last six 
crocks, office equipment and con- months, the commission has im- 


struction machinery. 


posed anti-dumping duties on Jap- 


Philips and j[£ West European anese land excavators and electron- son to Ji 


Europeans enjoy none of these France and Siemens of West Ger- 
privOeges in Japan, he continued, many, are coordinating a broad 
“The picture for our investors and strategy aimed at assuring survival, 
traders in doling with Japan," Mr. These electronics companies have 


failed to have any significant effect 
on our exports.” 

At the end of an EC trade mis- 
sion to Japan last month, Foreign 
Minister Shiniaro Abe flatly reject- 
ed as “unrealistic 0 the commis- 


competitors. notably Thomson of ic typewriters. _ Minister Shiniaro Abe flatly reject- 

F ranee and Si emens of West Ger- As Japanese companies increase ed as “unr ealis tic” the coramis- 
many, are coordinating a broad their direct investments, largely in sion's demand that it seL specific 
strategy aimed at assnring survival. *n effort to avoid quotas, tariffs targets for increasing imports for 
These electronics companies have mid duties. West European govern- the Common Market's manufao- 


- Fielding said, “is one of perma- gained from their governments ments are insisting that companies rured goods. 

— • , ..... ... _ « V. Krrnflr in Ovw'artifanrwl Iw-hnnlnmi -W. n.1l . 


oenu horrendous difficulties, with 

I-... liitfo sign nf a wil Wriftss hy Japan against Japanese imports. ana teacmt to local worms, rawer collective squeeze on the Japanese 

.... to change.” Among the difficulties. Despite strong objections and than relying on parts sent from that resembles the kinds of pres- 

“7.7 he dted red tape and what he de- pledges to counterattack from the Japan- sures being generated in Washing- 

scribed as “consistent favoritism Japanese government, EC officials West European governments ton," Mr. Fielding promised- These 
shown to Japanese companies." expect approval shortly for a pro- and trade associations, clearly fol- pressures indude frequent official 

- Mr. Fielding was dismissive gram to increase the tariff on im- lowing an example set in the Unit- visits and protectionist actions. EC 

• v- ■ ■ • ° - m - J .J J... a _ I- aA CfofM hova tnM Towonaca RIOO- n A<«J iltA> IT e 


tough protectionisL measures bring in their advanced technology 


against Japanese imports. 

Despite strong objections and 


pledges to counterattack from the Japan* 


and teach it to local workers, rather collectives 
than relying on parts sent from that resent 


“We wifl continue to pursue the 
□ective squeeze on the Japanese 


sures being generated in 


an companies .tackle the -Japanese with a value estimated at S3 .5 bfl- 45 percent of their products' parts some U.S. demands had .been met 
market .He called- the-.trade fain, lion this year in Europe alone. from local suppliers. In.some cases, despite a Japanese refusal of any 

T. f • ; the percentage is higher. For Nis- concessions in October. 

san’s planned automobile plant in Japan is not unresponsive to the 
northeast England, industry groups p re ss ure and is chaflangitig anti- 
* - ■ * ~ • have insisted on 80 percent — a dumping duties in the European 

. . ______ : suggestion Nissan said it was Court of Justice. “These actions. 


Bodt said. The first step was the 
long and costly process of obtain- 
ing certification in Japan to allow 
the plants to use Philips parts. 

“It took well over a year to get 
the approval from the industry au- 
thorities in Tokyo ” Mr. Bodt con- 
tinued, “and if we hadn't moved, 
those Japanese companies in Eu- 
rope would still be using Japanese 
components. Now they are among 
our best customers in Europe." 

Philips is finding other ways to 
fight back, including a few battles 
in Japan's backyard. The Dutch 
company expects to announce soon 
a jomt venture in Smith Korea to 
build 500,000 videocassette record- 
ers annually for the U.S. and Japa- 
nese markets. In addition, it is sub- 
stantially expanding a 
videocasseue-recorder research 
center in Japan operated by its sub- 
sidiary, Marantz Japan. 

RhOne-Poulenc is among a 
handful of West European compa- 
nies that have established success- 
ful joint ventures with Japanese 
companies, primarily in petro- 
chemicals, pharmaceuticals and 
fine chemicals, sectors in which Ja- 
pan is relatively weak. Yet the joint 
ventures have been no bonanza for 
Rhdne-Poulenc, which reports that 
both sales and profits in Japan re- 
main quite modest compared to 
other international markets. 

And the French company has 
faced a headache common to most 
West European companies: hiring 
and keep good local managers. 

Gilles Barbier, president of 
RhOne-Poulenc Japan, said he 
spent a year and a half looking for a 
computer specialist. “Six months 
after we hired him, he left,” he said. 
“It wasn't the money — in Japan, 
it’s socially somewhat unaccept- 
able jor a Japanese executive to 
work for a Western company. How 
can you get around that obstacle?” 


FIRST ON FIFTH AVENUE 



NEW YORK'S ST. REGIS 


America's first hotel in the grand European 
tradition. New York's first luxury hotel on Fifth 
Avenue. First in convenience at the fashionable 
corner of 55th Street First in elegantly 
appointed guestrooms and suites. First in 
magnificent public spaces. Even the first in the 
world to mix a Bloody Mary. Arid, of course, first 
in service. All the reasons why the St. Regis has 
been the international traveler's first choice 
since 1904. Make it yours next trip to New Vbrk. 


COME TO SHERATON 

£*■ Pan Am Wbddftiss* Riches. 

Eomuott- I.OCOrn«ic^f 
She*atonrt»c« rmarGbeKrti wort3~oe 
Apcfcctcte cm SE 1 anairp-giJarialoa only 

Peteivalioni; Coll your haw-el consultant 
your neatest She rat or. Reservations Office 
or the 51 Reals Sheraton directly at 
212/753- JSOG fefew 148-368 


St, Regis Sheraton Hotel 

Sheraton Holds. Inns & Resorts Worldwide 

The hospitality people of Il'X 1 
FIFTH AVENUE & 55TH ST.. NEW YORK. NY 10022 USA 


HcralbSS&ribunc 


studying. 


and other forms of criticism re- 


Opcning far Talk* 
Ik Sern in Huwr 

t. ■»!■■■»■ i-ihkfU 


omit Leaders Vow «o Push 
-an Economic Recovery 


3>* SSKSuE? 
fgpszs. 




| jpB?® wren nu 

— HMAa Em fa 

IpSpiilgg 

jcSEHS- g 




■hPb! 


j pjgg jpg gSas 


2 fb!rl 

Tc^ecxjvantageofourspecidratesfbrnewsubscnberscind 
. " we’fl give you an extra month of Tribs free with a one-year 
subscriptioa Told savings: neerty 50% off the newsstand 
pice in most European countries! 

FT. Subscription Manager, Intenxitiond Herald Tribune, ^ 
| 181, avenue ChartesdfrGaulle, 92521 NeuillyCecl©<, France. | 
' Please enter my subscription for: a 


Further, the EC Commission is garding our trade imbalance, are 
focusing its money, manpower and unjustified, one-sided and exagger- 
energy on high-technology deveT ated,” said Hideo Kagami, Japan’s 
op men! in areas where the EC is ambassador to the EC. 
stronger than Japan, or where Ja- His deputy, Yoshildko Saeld, 
pan has made little impact outside spoke in blunter terms. ‘'The real 
its borders. These sectors indude problem with the European Corn- 
advanced microelectronics, soft- munity,” hesaid, “Ls that they want 
ware, office automation and tele- the fruit, but do not want to grow 


communications. the plant This is unacceptable to 

“These are some of the key areas our government" 
e have targeted under the com- . Most of Western Europe's indus- 


munity’s cooperation programs — trial leaders agree that the protec- 
a dearly Japanese approach," said tionist measures can at best provide 
Michd Carpentier, the head of the what Heok Bodt, a Philips official, 
commission’s task force on infer- described as “breathing space that 
mat ion technologies. Noting that must be used for positive action." 
the EC is spending $2 billion on This action, in Philips’s case, in- 
cooperative ventures in high tech- volves challenging Japanese com- 
nology, Mr. Carpe ntier added, “It petition in such sectors as electxon- 
is a bit like MTITs approach, and ic parts, where Japan still is 
we have learned a lot by studying relatively weak but growing fast, 
the Japanese." For example, Mr. Bodt said that 

Increasingly, West European until recently, Japanese television 
companies are seeking to penetrate makers in Britain were retying ex- 
Japan through investments with clusively on parts made in Japa- 
Japanesc partners. Such companies nese-owned plants in Ireland, Scot- 
as Philips, Thomson, Siemens, land and West Germany. “We 
Rhdne-Poulenc, France's state- decided we wanted to fight for that 
owned chemical company, and Pe- market an our home-ground," Mr. 


High Style 

FINE SERVICE IS ALWAYS IN FASHION 


AT AIR FRANCE, THERFS ONE 
THING THAT NEVER GOES OUT 
OF STYLE: OUR ATTENTION 
TO THOSE IMPORTANT DETAILS 
THAT MAKE YOUR FUGHT 
A TRULY UNIQUE EXPERIENCE. 
FROM THE WARM WELCOME 
ON BOARD TO A SELECTION 
OF THE BEST IN FRENCH WINES 
AND FOOD, WE BRING A TOUCH 
OF 'LA VIE FRANCAISE' 

TO EVERY TRIP YOU TAKE 
AND AT AIR FRANCE, THAT'S 
SOMETHING THAT WILL NEVER 
GO OUT OF FASHION. 


- ■ OKmcrtfe 
•: J (+ 1 month free) 

• • _ Demortta 

• | ( + 2*«efafree) 

I D 3 months 
(+1 week free] 














Page 6 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER JL1, 1985 


INSIGHTS 


Bulgaria 20 Years Later: Prosperity, Intrigue, No More Minorities 




By Davild Binder 

New York 'Tima Service 

1 returned with a certain uneasiness to 
Piiigaria, where I h ad served 20 years earii- 
er as a correspondtnL In part, my discom- 
fort grew from memories of wretched hotel 
food, which invariably made me break out in 
boils, and the rather hostile attitude of Bulgari- 
an officials functioning under a mandated po- 
licy of anti-Americanism. Primarily, it was 
based on the fact that the People's Republic had 
issued an edict barring bus from the country for 
life. Twice. 

The reason given for th e action was a joke 1 
had used in an article to illustrate the altitudes 
of Romania toward neighboring states. Thejoke 
took a cut at Tod or Zhivkov, then Bulgaria’s 
prime minister. It appeared first in 1965 m The 
New York Times, prompting the initial edict 
When it appeared a second time, in The New 
York Times Magazine, Lhe Bulgarians reiterated 
the lifetime ban. I had not tested the ban until 
now, and although I had no trouble getting a 
visa, I was a bit hesitant. 

Not surprisingly, I found many changes in 


mm 






fctilif 


Bulgaria, from lhe easy availability of food, 
clothing and housing to the smooth handling of 
foreign correspondents, for a fee, by a special 
state agency. The furnishingii of the Sofia hotel 
where I stayed hinted that life was more com- 
fortable now. The bathroom taps were metal 
instead of the leaky plastic of yore; the resun- 
rant food did not induce boils; the Gamza 
burgundy was excellent. 

Pleasantly situated in a broad valley, Sofia is 
described by Bulgarians as “the greenest city in 
Europe.” and streets are lined with black lo- 
custs, maples, birches, dms and horse chestnuts. 

With its yellow streetcars, its cobblestoned- 
avenues and tin-roofed shacks housing thou- 
sands of Gypsies, Sofia seems an appropriate 
setting for old-fashioned international intrigue, 
but scarcely the ideal spot for masterminding a 
far-flung plot to murder a pope. 

Nonetheless, that is what an Italian magis- 
trate has charged. In 1982 the lone Turkish 
gunman seized after attempting to kQl Pope 
John Paul IT the previous year, Mehmet Ali 
Agca. swore that Sergei I. Antonov, chief of the 
Bulgarian airline office in Rome, and two other 
Bulgarians had directed the plot. Worse still was 
the suggestion by an Italian magistrate, Dario 
Martella, that the assassins were acting as 
agents of the Bulgarian government. 

The Bulgarians promptly rejected the charges 
as preposterous. But even if the Bulgarian con- 
nection is proved false, the incident further 
tarnished the image of a country that has al- 
ready been implicated in a number of cloak- 
and-dagger activities. 

In addition, the LI.S. Drug Enforcement Ad- 
ministration says that Bulgarian authorities har- 


;v. v- . srtdfcx 

Pi J t , .. ...» -•* ' V.-. ( ‘ ‘ J 

Ir* - • ■ V ] * . * 4 

- ; 

ft- •_ A . mi • \ ....... » .. •- 


“It fits the drinking in the West about Bulgar- . 
ia as the most faithful,' the most orthodox,” be 
said. “They call us a satellite.” 

“We are not so important as to be the Object 
of such great attention around the world,” Mr. 

Traflm v said, “The campaign is aimed at the 
Soviet U nion and the Socialist system. Like 
billiards, you hit one ball to hit another.” 

At least on the surface it would scan Bulgaria 
is Russia’s most faithful ally. The capital boasts 
not only a statue of Czar Alexander H and the 
Alexander Nevsky Cathedral, erected in grati- 
tude for die 1 878 liberation of Bulgaria, but also 
a huge monument to (he Soviet Army, a large 
statue of T*nin and numerous avenues tunned 
for Russian figures. 

Sovietization of Bulgaria began immediately 
after Marshal Fyodor L Tofbukbin's troops 
took over the country in 1944. In 1954, a year 
after Stalin's death, Bulgaria acquired what, is 
known as a “home Communist," a party mem- 
ber whose political experience was Bulgarian, 
not Russian. This was Todor Zhivkov, a printer 
who, in the last years of World War II, bad 
become political commissar of the partisan 
Chavdar Brigade that fought Bulgarian Fascist 
governmentforces. 

Mr. Zhivkov, 74, is now the senior governing 
Communist in Europe, having rukaas party 
secretary for 31 yearn. To be sure, Mr. Zhivkov 
has paid public dues with such remarks as, “The Todor Zhivkov 

Soviet Union and Bulgaria breathe with the 

same lungs, and the same blood flows in our which, according to some Bulgarians, was con- 


<*::§ ImmMrn 

'Si, 


jm. 

m: .fc 


veins, ana such actions as sennmg a token caved m a secret party directive in I'm. has 
force to aid in the Soviet bloc invasion of been massive: Although 250,000 Bulgarian 
Czechoslovakia in 1968. Neighboring R omania Macedonians were recorded in the 1946 census. 


did not. 


by 1975 none were listed. There were also no 


■ rr* ^ ■ :**«•* ♦ 

P- ; .r ' «*- o u 

nT : ■■ -.V- ' Ar'l: 

EMfiMI'hiHi -<v • 4t+ . 

|j*» ' V;' ; ” r ’ ■ 


But to suggest that Bulgaria is an unwavering listings of other national minorities. 


Soviet satellite may be to exaggerate. A year ago Not content simply to drop minority listings. 


Mr. Zhivkov’s long-planned trip to Bonn was over the last four years the government has 

>L. I * L.. 1 CI.L ..1 O r , rnu .i ■ . ■■ - .1 


called off at the last minu te by Mikhail S- 
Gorbachev. This annoyed the Bulgarian leader. 


forced about 5,000 ethnic Albanians, along with 


Today Bulgaria generates 25 percent of ity ' 
electrical power in midear. plants and is plan- " 
oing on 50 percent in the year M00. There arc~ 
traffic jams in city streets and shop windows are 
filled with consumer goods. • > 

Evidently decades of diligence are paying off • 
in terms of improved living standards for many ' 
citizens. Tbe average wage is about 250 leva g- 
month (5240 at the official exchange rate), but ’ 
there are usually two or more wage earners in a ‘ 
family. ’ > 

For a brief period some observers wondered ! 
whether a Zhivkov dynasty was in the offing. _• ' 
After his daughter Lyudmila graduated from , 
university in 1966. hr drew her into the party, ' J 
and by 1975 she had become chairman of the ' 
state committee for culture. Four years later, at 
age 36, she was elected to the Politburo. 

She died in 1981 in an automobile accident. 

She is commemorated by the Lyudmila Zhnr- 1 
kova National Palace of Culture, Sofia's largest - 
and perhaps ugliest building. It serves as a., 
backdrop to a memorial dedicated Tour yean 
ago to 13 centuries of nationhood. 

Such nationalism is also apparent in the ' 
schools. A Western diplomat tells the story of ■ 
his son. who was enrolled in a Bulgarian high 
school. One day. in a military course, an officer- 
teacher pointed to a map of Europe. “You are 
not here because of tire NATO military threat," 
he said. “You're here for this!” 

He roDed down a map showing medieval 
Bulgaria encompassing large areas of present- 
day Greece, Yugoslavia and Albania. It is just «| 
such extreme nationalism, and the dream of 
restoring the medieval empire of “Greater Bul- 
garia,” that brought woe and shrinkngi- upon 
lire nation in the first place. 

Why does the Zhivkov government indulge in 
such an atavistic nationalist paroxysm, going so 


‘ ■' " •' , 

itHrttrtninT ‘ *■“ t 


who responded to the humiliation with a series Bulgarian names. The People's Socialist Repub- 
of visits to and from the heads of state of lie of Albania has lodged a formal protest. 


Romania, Japan, Finland and France, thus as- In August 1984 the push gathered force in 


thousands of Gypsies and Armenians, to take far as to force its citizens to change their names? 
Bulgarian names. The People's Socialist Repub- Why does a country that aspires to enter lhe 
lie of Albania has Iodized a formal protest- high-tech age risk international opprobrium by 


r-.- . -f , 


seating a degree of independence from Moscow, anticipation of a national census scheduled for 
In October Mr. Gorbachev visited Bulgaria, this month, when the government is expected to 


this time as Soviet party chief. In private talks, declare the country ethnically pure, with no 
he let Mr. Zhivkov know that the Soviet Union hints of any cultural diversity. 


was no longer going to accept the second-rate 


In August 1984 the push gathered force in engaging in trafficking in drugs, arms and 
tidpatioc of a national census scheduled for cloak-and-dagger intrigues? _ 
is month, when the government is expected to At least part of the answer lies in Bulgarian 
dare the country ethnicall y pure, with no history. In the Middle Ages the Bulgars created 
uts of any cultural divereity. 311 empire stretching from the Black Sea to the 

Last December the government focused its Aegean and, for a time in the ninth and 13th * 

T>-.l zur _.i ■ T I.. in lht> AHri.'llTi* VlnHm Vlin-KUin-iV 


goods Bulgaria was dumping in the Soviet mar- efforts on Bulgarians one million rthnii- Turks, centuries, to the Adriatic. Modem Yugoslavia’s 
ket, while it sold higher-quality products to the starting in ,the southern district of Kiirdzhali. capital of Belgrade was. for a time, a Bulgarian 


There was bloody resistance in MomcMgrad, 
Western diplomats maintain that the Soviet and the state nufitia, the military and the Za- 
Union has never treated Bulgaria as a valuable pasi, or special reserves, were called in. Dozens 


citadel So was Greece’s Salonika. 


• •’ ■■■■■■ g 


partner. “The Soviets don't consult, they don’t of people were kflwi In eariy January, the drive m m ■ . c , . . 

even infann their own allies," an ambassador was expanded to the north. Whole districts were -*7 * f “?■ “ d 

ohservw! e cr, Ivan Vazov, called the Turkish yoke. Free- 


UT for five of the last six centuries there . 
was no Bulgaria, only the Ottoman Em- 


observed. 


sealed off to foreigners. Armed forces typically 


Ti« Nnr Yorfc Tina 

A Bulgarian couple walking past a monument to Czar Alexander H in Sofia. 


ERTAD4LY. tbe Russians contemplate ^ 


gunpomt. 


In the recent drive to “Bulgarize" the Thritish 


Bul garia vmh a mixture of suspirimi and chimge petitions, 
envy. The Slavic nation, which sided with 


Russian Czar. 


bor international dealers responsible for ship- ^00 oNilians mid soldiers were 

ments of heroin and other narcotics from the J^ed The human nghls oigamzation Amn^ty 


ty Foreign Minister Lyuben Gotsev said that a. Germany in two wars, has accepted the Soviet ^ -n t.mUjH wiaccuoaian irom i ugp»avia. auumg mat 

L199 iStish schocL ITdt ^ 


The government has dosed the one Turkish ‘^Sanan history is discontinuity- said a 
raoumer. Yeni Irik and all Turkish whnnls Maced«uan from Yugoslavia, addmg that 


Middle East to northern Europe. 


Internationa] has reported 


uizati on Amnesty from United States periodicals on Mr. Antonov, anri mmp fni4nntrW nr»» n m pa vinrt iw tii»w m 
figure at 500. The Tbe trial of those accused of plotting to ldQ the thf mrnh^imH 


ish-Ianguage' radio broadcasts have been taken ■tffg iog h.-he &cood Bal lon War, and 


aim, as described by Stanko Todorov, a Com- pope has not been concluded “and yet we are 


, OMESnCALLY. the government is miuiist Politburo member, is to make Bulgaria a called assassins, terrorists,” Mr. Gotsev said. 


Meanwhile, the Rusaans have criticized the 
Bulgarians, in private about die anti-minority 


waging a remorseless campaign to force “single-nationality state." That is something Boyan Traikov, director of the Bulgarian campaign/pointing out that the tensions it has 

hnmnftAnmtv ran orliul Hie Hfwn 9 multi. CiMlthMCtAm FimVU» hie nn> lrnraim ivt <!r 1 HfifT Teloitmnli miIIbJ AfTM** j i » « r. ■ ... . . 


S te ^edfo? W World Wars I and 11. when Bulgaria 

speaking Turkish in public. Increasing numbers *ded with Germany. 

of Turks have fled to Romania and Greece . Having made wrong choices at three critical 


homogeneity on what has been a multi- southeastern Europe has not known in its 3,000 Telegraph Agency, called Mr. Agca’s testimony raised could have serious repercussions among 

J - e tv. -V — as 1 — t - - n-. I J r n i * _ n r 1 _ “ 


ethnic B alkan salad of Turks. Moslem Pomaks, years of recorded history. 


of a Bulgarian connection a fantasy and said the Russia’s own fast-grxnvmg Turkish popuIatiarL 

<tnfi_T)fiTn<iniifi /vlnmnirm “ic rlimnturl n I r-_5 <1 ■ . 


% TdS have fled to Romania and Greece. . Having matk wrong choices ai three cntical 

junctures in the space of less than three decades, 
Mr. Zhivkov boasts of making Bulgaria “the “there is no fixed reference point,” said the 
Japan of the Balkans.” It is an overreaching Macedonian. “For Bulgarians, who is to sav the . 


Gypsies, Armenians, a handful of Albanians. Bulgarian authorities call criticism on any of anti-Bulgarian campaig n “is not directed exact- The push to Bulgarize the minorities is the dorm, but a returning traveler cannot fail to be choice they make now are not wrong?" 

firw-tc and Riimimianc nntln mpnrinn cmml |Iv>q> rvirntc nart n( an “mlLllitlHfigii mam- l,r trmmrA Dnlm., U,,l ilu> .■ M - . _ _ - » 1 — . , r _r _i , . , t-rm - - t , r — , . . 


Greeks and Ro manians , not to mention several these pants part of an “anti-Bulgarian cam- 

: nnr 4 L _ Jt-J !. . 


hundred thousand Macedonians. 


paign.” With a studied air of resignation, Depu- 


K toward Bulgaria, but toward the Soviet most dramatic event within the country since impressed by the transformation of what h«d 
nion.” Mr. Zhivkov’s rise to power. The campaign, been, 20 years ago, essentially a peasant society. 


(This article was excerpted from The New York 
Times Magazine.) 



Torn Between Two Cultures, a Gift Dies 


16-Year-Old’s Hunger for American life Conflicted With Moslem Values 


By Peter. EL King 

Lm Angela Tunes Service 


king ly afraid of tbe potential consequences- Accord- 

rriae -ing to pdice reports on file with the court, she 

warned the authorities on at least three occa- 
An Arab immi- sions that her family might kidnap her, or worse 
for an American. . “She was," one rqxAting officer aoted, “espe- 


"W yiSALIA, CaEfomia — An Arah immi- sions thatha family might kidnap her, or 
\f grant giri, she hungered for an American. , “She was," one reporting officer aoted, 
v Ufe. Many people around here say that dally fearful of her brother Mohammed.' 
t h is, more than anything dse, is why Hadiya _ — AniV A- xr _ * . . , . - 

Nagi is dead and hff dd«t brother is a fugitive TT Nl ^ T 1 
wanted for ber monjer. - 'll 

The attack came at midday Sept 10, a Tues- “ 


She was moved to different foster homes, and i 
Miss Nagi told hw attorney she preferred to be - 
placed with Christian families. She began at- ' 
te ndin g a Christian church. Acquaintances said . 
this was another source of friction with her * 
parents. 

On July 16, Miss Nagi appeared at the Visalia i 
police station. She told officers that she bad.' 


P° U “ station. She told officers that she bad ■ 
family brought her to the. United States been outside the high school campus and spot- 
from Yemen. Her. Father, said to be^a led her brother in a car. ' 


day, in the parking lot of the Visalia Oaks minor SSJ J e ^ 1 “ Arthe station, she was asked why she was so' 

league/baUpaitMore than adornn wimeues « toW m J, upset. 

watched from across the street at Johnny's Git enoU ^ 1 10 ®° mto "Hadiya stated," the reporting officer noted, 

& Go Market, where Miss Nagi and four girl- . , . .. ... “*bat sbe believed that they were going to kid- 

friends from Redwood High School had grate ^■? ne wcl j oap ber and force her bade to Arabia because 

for lunch. : . Nagi told accpimntances her famtly owned Lhree they did that to a cousin of bers.” 

A faded blue 1 978 Thoodeibird with two men m cmea ' where they occasionally She told others that her mam fear wac h«no . 


inside rolled up to the girls. Two shots were fired 


^ "Hadiya stated,” the reporting officer noted, ■ 
“that she believed that they were going to kid- ' 
nap her and force her back to Arabia because ! 
they did that to a cousin of bers." 

She told others that her mam fear was being >£• 
returned to Yemen, passed off as a virgin and - 


UUU1V1UUM1UU U/UUzgUU. ItfUOUUU ITnr - J - - - — Ui 1 VA| 

through the passenger window. Miss Nagies, ^ ^ ^ied. If her husband discovered^ 

dropped face down on the asphalt. The passen- ^ a virgin, she said, it could mean death. 


Cram documents indicate she had tdd Depu- ■ 


The police think Hadiya 
Nagi was killed in a harsh 
attempt to rectify a 
perceived affront to the 
family reputation. 


uiuuusu iibmp UVWU vu ui&awmui. iwuowr _* ~ - "... . “ —t « wuiu UKUll UCdlll. , 

gergot oat of the car. He wore no made or any ^ devetope<ra Xasie for iinn & Amen- Court ^documents indicate she had told Depu- - 

other disguise; no words were spoken. He “r; . xr . x , . _ , , ty District Attorney Peter Champion that her • 

crouched over her prone body, tor* aim with uf°f 0 ^w OU ? f famfly would kill her. Mr. Champion told poGce 

both hands and dispatched two more bullets officers that Miss Nagi was “visibly shakra" at - 

into die bade of herpink sweats-. One went ■* iC bool were allowed to mix. In the tone. - >*“**“ “, 

through to pierce ber heart ' There were regular meetings between Miss 

It took the police two weeks to identity the Nagi and her relatives, called by the social ■ 

oldest of Miss NagTs four brothers as the gun- rp. . 1.1 n„j* workas in an attempt to resolve differences so ’ 

man and obtain a warrant- for his arresL The 1 pOllCC t tl i nK Hadiya that the family could be put back together. The ‘ 
warrant has not been served. Mohammed Taber Nam wna IHIlorl in a liorol, meetings were amicable enough. 

AIL 33, who ran lhe fanrily nariot in nearby o 1UUCU 111 a flarsn Another court hearing had been scheduled for 

WoodvQle, is believed to have fled to his native ' attempt to rectify a Aug. 39. 

Yemen. . f , 7 _ ^ parents did not attend. Mr ; Champion 

That a brother could kfll a sister, and in such a - perceived affront tO the reported that they had gone back to Yemen. He 

cold and deliberate fashion, was disturbing i . told an investigator that the parents had indicat- 

enough to residents of Visalia, population family reputation. ed they “would not be kidnapped by the system, 

52,000. Tt is a pleasant farinmg community that like the system kidnapped their daughter ” " 

records about five murders a year. Yet the case giri’s father later told Mr. Heusdens he 

would become even more incomprehensible as . had gone to Yemen to petition the government 

the police theory about motive began its circuit the Middle East many schools, even universi- to “get my daughter back, xo save her Ufe." 
tfc-'C^Vthe town’s taverns and coffee shops and ties, are segregated along sexual lines. Mohammed Nagi was present at the Auc. ^9 

high school hangouts. - „ A : wngthne^ attorney for the family, James meeting, and according to court documents he 

Miss NagTs murder, the authorities suspect, Heusdras, said that Mr. Nagi 1 had m tended to pleaded with Mr. Heusdens to find a wav to 
was rooted in her native culture. Specifically, return his family to Yemea, but his wife became bring Miss Nagi home. ■ 3 

police investigators and other officials familiar They remained in California and Miss Nagi “This is a terrible embarrassment to th#* fwn- 
with the case say they believe that she was lolled - wasiept out of school for two years. She would ily that this child is not living a t home-” he is 
in a harsh attempt to rectify a perceived affront ^ friends that during this period her mother, quoted as saying. “She must eo bade in the’- 
to the family reputation. : fays, looted her into a room each night. .family. Isn't there anything you can do*" 

The particulars of her offense are not dear, Nuss Nam later alleged that her mother also “Your sister has chosen a new life." the law- • 
and the authorities are prohibited from raMdy 'would brandish a knife and strike her .with the yer is quoted as tefliM Mohammed »*__ j- 
discussing the suspected motive. However, doc- broad side of the blade. In May, she said her there is nothing l^d 0 at a.:, ^ 315 '■ 

uments on file with the Visalia Municipal Court mother was infuriated to End a Michael Jackson - r“ L 

refer to Miss NagTs loss of virginity several poster. in her ro cm. Miss Nagi fled to a local T NVESTIGATORS focused auicblv on 
years ago, by rape. And those who knew the giri . pohee stahoiL Officer there were struck with I Miss Nagi's brother Fmn * 

teD of her stubborn rqcction of the customary how upset the motho\ seemed, tugging ai her -I- been the intended taraei. 


both hands and dispatched two more bullets 
into die bade of her pink sweats’. One went 
through to pierce her heart. 

It took tbe police two weeks to identity the 
oldest of Miss NagTs four brothers as the gun- 
man and obtain a warrant-for his arrest. Tbe 
warrant has not been served. Mohammed Taber 
AIL 33, who ran the family market in nearby 
WoodvQle, is believed to have fled to his native 
Yemen. . 

Thm a brother could kiU arista, and in such a 
cold and ddiberate fashion, was disturbing 
enough to residents of Visalia, population 
52,000. Tt is a pleasant farinmg community that 
records about five murders a year. Yet the case 
would become even more incomprehensible as 


hool hangouts. A. longtime atton 

Nagi's murder, the authorities suspect, Heusdens, said that 


was rooted in ber native culture. Specifically, return his family to Yemen, but his wife became 
police investigators and other officials f amiliar 3L They remained in California and Miss Nagi 


I nvestigators focused quickly on 

M*S Nagi s brother. Firstisheclcarlv bad* 


At-the time of her death, Miss Nagi was living . Ste was placed m the Susan MairuirdReceivr Nagi did not return messa!**^ 
with a foster family, refusing all entteaties by -rag Home, a county shelter. There are references were made, to notify Mmahmt 
ber parents to return home. ’* * ' J 


usmg all entreaties by mgnome,a county shelter. There are references were made, to notify him about 

m. Court officials had to the case in pdice documents filed in court- . foster panmis. social 1 * 




taken custody of her after she complained that One rqxjrt st&ed that social services employ- forward to bate alont» ■ 

her mother abused her. She had adopted an ces said Miss N^i had indicated that lhe abuse "tions. • 


her mother abused her. She had adopted an ccs said Miss Nagi had indicated that lhe abuse tions. 
Anglo-sounding alias and was attending Chris- began, after she “had been raped several years A passport 
tian churches.' She wore makeup and jewelry, a & > > which caused her to become ‘disgraced 1 in witnesses alien 


premam-g 


ft was obtmried- 


□an unuiuics. ana wurc maxcup mm jewcuj, w uwmuc uusnmoa in witnesses allecedlv uWiR_f 7,, — 

dated boys and, as her attorney said later, en- the eyes of her famfly because she was no longer The MtAarnmedNa^J 

joyed “all the things that the average American * vngtn. Nonvirgnuty at the -time of -the mar- nearby Traver The- iJmSTvllS? 11 !“? *2% 

'hm.akf t* jonow who MIS 


THE BEST TOBACCO 
MONEY CAN BUY 


joyed “all the things that the average American * vnpn. Nonvirgnuty at the time of -the mar- nearby Traver The thrw- 
parents would deem suitablefor their teen-aged nags Is apparently an unforgiving offense in the- brought it there a 
daughter.” Arab culture;” ■ . questioned. Tbe n&tu. 

Sergeant John Gomes, the principal police Sources present at -a custody hearing said a that Mohammed Nari 
investigator said: “I’ve been a policeman iot 17 crucial mranent came when the girfs mother, and kept n set or 

<»K>IV onil tkic ie nn» nf tlv mncl virlnnt Kntm. VlSlOlV dlStraUght and anOarCntlV Yn, , . On’ 


Sergeant John Gomes, the principal police oQMjttS present at a oistody hairing said a that Mohammed Naci 
investigator said: “Tve been a policeman fra 1 17 oucial jnoment oame when the girfs mother, and kept a set re pijrchasad it fprhmi^ 

years, and this is one of titemortvidous, bizarre v^ibly distrau^it and apparently disoriented by claimed no knnwW^r^T^i- 1 ^^®* 
and unique killing s I have ever run across, what-must toner have seemed abizarre exatni- Mr. Gomes hat hm ihum fil i ng . ;• >A 
Nothing we. turned iqp xa this whole investiga- nat ^, of her familial roJ^' was asked if rite his suspicion 

tion has indicated that the rictimagitated or in co yJ d forgtye her daughter fra- brfng-raped. ' Yei^a^nie ^ 

any way caused her death.’" , Her-response was to the effect that “wsdon’t found, nor^ jLs5?3L we ?*’' ' aWTteaW 

“Nothing rite did would have caused him to /ogy® ^ J™ 1 w * wU accept her bacL" Gomes does not 

do wbai be did," he said. - - enfoH^m summer school as Su- hammed S3wiir!i! ut m '? b . ^ ^ Mo “ 

In the last summer ofher Hfe, Miss Nagi had Mamard, taking the name from the county ‘Tm not Cnal - 

seemed to revd in her newfound freedom, her -home. She was an eager rtudent, complaining of it has to Mr. Gomes said. “A lot 

immersion into what rite considered a typical ^when frequept court , sesripns took her away .Viewed in their woaJd ^ 

American teen-ager’s.worid. She also was dear- ' fn® 1 c * a ? s -.Sh® ^>okfi of wanting to be a nurse, honor of the faraDy"^’ ° ecanse 11 Solves, the 







INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 11, 1985 


Page 7 


ARTS /LEISURE 



'Down an Alley’ Filled With Morsels of Other Plays 


PALACE SPHERES — Two fountains by die Belgian-born artist Pol Bury, who this week 
won a French government prize for sculpture, have been installed at the Palais 
Royal in Paris. Seventeen stainless-steel spheres form the centerpiece of each fountain. 


By Sheridan Motley 

/werrarfww/ Herald Tribune ' 

L ondon — nw botNc with a 

t two-character play is die awful 
finality of the cast list. Knowing 
that nobody else is going to appear 
somehow makes yoo resentful of 
those who already have. When, 
long before the last war, Dame Flo- 
ra Robson was appearing in a Vien- 
nese two-hander and at long last 

THE LONDON STAGE 

the doorbell rang onstage and 
Dame Flora said, to ho- husband, “1 
wonder who that can be?” a voice 
from the stalls cried, “Whoever it 
is, let them in.” Suppose the two 
' i cm stag; aren’t the two you 
1 want to spend the rest of the 
; with? Only Tony Shaffer 
ever solved that onc, by promising 
in his two-character ‘TSeuth" the 
appearance of various mythical 
characters: Now yon can't even 
trust a theater program. 

But “Down an Affey FEHed With 
Cats” (ax the Mermaid) is a genu- 
indy two-character thriller Nei- 
ther nun comes on in disguise as a 
third, nobody is promised and then 
fails to nMteriatiM*. There are ad- 
mittedly sft wpff cminmnt names in 
the program, notably Ola May 
Wallace, Duane Bogie, Kirk Doo- 
ley and Beatrice Handel, but they 
tom out to be the producers or at 
any rate their backers. What they 
are backing is a curious but by no 
means catastrophic little thrill er 


about an antiquarian bookshop in 
Sydney, and for those of us who 
thought New South Wales rich in 
neither suspense nor old and valu- 
able books, this is dearly meant as 
something of an eye-opener. 

It starts with the arrival of Adam 
Faith as a camel-coated likely lad 
improbably seeking a definitive 
tome on the history of the Napole- 
onic wars. Even the least of the 
Poirots among us wiU not take long 
to realize that whatever is of such 
value to him in this work is unlikely 
to be contained in the tact. Sure 
enough, it’s on the dust jacket: 
Someone has thoughtfully in- 
scribed the address of some buried 
Chinese treasure. The only prob- 
lem is that the dust jacket has been 
Iran in half. The chances are that 
the other half is in the possession of 
the owner of the bookshop, who 
has decided to lock Faith in with 
him for the night while they sort 
things Out 

The entire plot of Warwick 
Moss* thriller could nearly be con- 
tained within about the first seven 
minutes of any remake of “The 
Maltese Falcon"; what is intriguing 
here is the occasional glimpse of 
the .various other plays that be 
seems to have abandoned along the 
way to an aO-too-predictable end. 
First, there is the old odd-couple 
routine: Faith, street-smart but 
otherwise uneducated, up against 
the weary worldly wisdom of David 
de Keyscr as the bookseller. If one 
stands for quick wits and the other 


for old intelligence, which has the 
best chance of staying alive 
through the night and making off 
with the Chinese statue in the 
dawn? 

Then again, this might not be a 
thriller at all, since the actual thrills 
are precious few and far between. 
Could it have started out as a gay 
love story about an old man falling 
for the villain be always wanted to 
be in his youth? 1/ so, de Keyset's 
wary, prowling performance is a 
masterpiece of suppressed sexual- 
ity. But if that is what the play is 
about, somewhere along the route 
its author seems to have lost inter- 
est in a resolution. In the end the 
games are all that he really cares 
about, games of bluff and doub- 
le-bluff that are ultimately self-de- 
feating. If you know that neither 
character is ever likely to tdl the 
truth about anything or anybody, 
what they do tell one another be- 
comes remarkably irrelevant. 

This is the kind of plot that used 

to appear on television in about 
19S6 under the Alfred Hitchcock 
b anner ; even ft*** 1 it wasn't that 
strong for half an hour, and 
stretched to four times that length 
it is bound to look a little fragile 
unless you are deeply concerned 
with the precise whereabouts of 
stolen Chinese artifacts. But Faith 
and de Keyser play this charade 
with such evident enjoyment and 
tremendous versatility that in the 
end it very nearly grabs you. I just 
don't look forward to seeing it in 


TheArdiiti Quartet: In Contemporary Music, Playing More Than the Notes 


By Mark Hunter 
p ARIS — Irvine ArdittPs man- 
- Xner suggests a man with a mo- 
i: ■ nopoly on a rare commodity, which 
_ f is not far from the case. The ArdHri 
•' Quartet, which he founded in 1974 
with three classmates from the 
Royal Academy of Music in Lou- 
don, has become Europe’s most 
celebrated string ensemble speaal- 
iyirng in contemporary composi- 
’ bans. . 

The composer fannis Xenakis 
said the solo performance of his 
“Nomas Alpha” by the quartet's 
cellist, Rohan de Saram, Dec. 2 at 
? the Th&StreduRond-Pdm in Paris 
7 was “the best I’ve ever heard”; the 
~7 quartet’s pre-eminence is such that, 
when Ida af Xenakis’s comment, 
Arditti grinned and remarked, “He 
11 " often says things Hke that to us.” 
'■ When be began the quartet (the 
other two members are Alexandre 
Balanescu, second violin, and Le- 


vine Andrade, viola), “studies in 
contempo ra ry music at the acade- 
my were very poor,” he noted. 
“You had to do it for yourself." 
The remark still largely applies 
across Europe. Arditti said that at a 
seminar in Orleans in late Novem- 
ber “I was showing the students 
things no manhw could 

show them. One -does need a firm 
classical b asis — you can’t play 
Xenakis if yon can’t play in tune — 
.but in new music one his to under- 
stand the priorities for perfor- 
mance. Often we’re playing 
shapes” — such as g]ULs— 

sandi or dusters of plucked notes 
— “not melodies or ones. And die 
dynamic contrast is more impor- 
tant, because the extremes are 
greater.” Those extremes range 
from silence to wall-shaking ampli- 
fied crescendos. 

From the time he began listening 
to new music in his teens — in 


« 

fn C' i 




DOONESBURY 

sots HE6MEMEA 
supb&ly *maLLJusno 
60/N61D GETRPOFME.HB 

B mrwrm apNTB&imrr 

THE LOBBY CHANGE 


\3 



THAT GUYS GOT FT 6UIKEP.. 

he JusrsnsNf&Afmr- 
i— , Marrams an BHPLB5& 

|=L. STREAM OF^PEOPIZBWNE 
HIM LARGE \ 
AMOUN1SOF 



»— j toda^' 


electronic works such as 
rlhetnz Stockhausen’s M Hym- 
nen,” Arditti recalled — “the 
sounds were what excited me.” 
Since then composers have steadily 
incorporated sounds gmilar to 
those made with electronic devices 
into the repertoire for acoustic in- 
struments. In (he process, the mu- 
se nftMtinn Tim at times diverged 
from the sounds it tries to describe. 
“It’s not always clear on paper 
what a composer wants,” Anfitti 
said. “Realization can be very dif- 
ferent from the notation.” The 
quartet makes a point of rehearsing 
with the Hying corpposera of the 
200 pieces in its repertoire. 

“AH music has a direction. Not 
many people recognize that de- 
ment A lot of performers in this 
field just play the notes, because 
that’s hard enough, and it’s diffi- 
cult to see the direction as wed” 

Moreover, the techniques de- 
manded of string players in this 
genre are practically athletic. One 
passage erf “Nomas Alpha” re- 
quired Saram to quiddy lower the 
bottom string of his edio an octave 
in pitch, then play the open string 
against a harmonic on die next 
string — which meant that if his 
breakneck tuning job was off, the 
result would be mere noise. (He 
was right an pitch.) In another seg- 
ment of die piece. Saram had to 
play harmonics an the first and 
fourth strings rimultaneoudy, and 

the only way to do that is to reverse 
the bow and play under the strings. 
“There were same crazy Italians 
who tried things Hke that in the 
17th centmy,” said Saram, “but 
such practices are hardly common 


MEMUHLE, WORKING 
\S STIFFS LIKE ME HAYETD 
PUTIN &-HOUR. MY51D 
BE ABLE TOAfFORDTO 
' UVEINABIMP- 
IN6WI7HN&6H- 
BOFSUKEtW! 



5P5 corns up, 

N0 3SS B A CARIBBEAN 
IN THE.. fftp STUDENT 
DL L MN5*23MLWN. 



key to performing contem- 
porary music, said Arditti, is “the 
articulation erf extremes. In classi- 
cal pieces you're playing Hnes that 
have to be evened out In contem- 
porary music the sounds come 
from nowhere. Composers Hke 
Xenakis want to hear a crunch, to 
distort the sounds. And that de- 
mands a more subtle technique,” to 
keep the “crunch” bran running 
out of control. 

Increasingly, the quartet has be- 
come involved in broadening musi- 
cal extremes; thisfaO it introduced 
30 new works, including “our first 
minimalis t piece, by Philip Glass,” 
Arditti said. Another direction is 
anything but minimal : performing 
tie Rnad stri 


with the electronic ! 


. string tu- 



Treat yourself to 

A NEW LOBBY 
NEW LOUNGE. NEW (AND 
VERY BRITISH) RESTAURANT. 
AND NEW ROOMS ON 
NEW EXECUTIVE FLOORS. 
AT A GRAND OLD ADDRESS. 


For nwn •ations, call j our 
7 huvl Agent, any Hilton 
International Hotel or 
Hilton Reservation Service 
in Ccpenbagyn, Frankfurt, 
London, Madrid, Milan, 
Oslo, Paris orStfK'kbultn . . 


London Hilton on Park Lane 

WHERE THE WORLD IS AT HOME* 1 


struments recently developed by 
the (Canadian en gmoer-musi dan 
Richard Annin and used by tire 
quartet for works by James CKQoo, 
Giadnto Scdsi and Tim Souster at 
the Centre Pompidou last Wednes- 
day. 

While bugs in the sound system 
(a feature rtf rock concerts that is 
becoming typical in “classical” per- 
formances) added unpleasant m rise 
to Dillon’s lyrical wing Quartet, 
Souster's “Hamhledon HHl” for 
string quartet and tape signaled the 
Rands’ extraordinary potential in 


the hands of accomplished players 
ami competent sound technicians. 
With the composer at the sound 
controls, the quartet moved 
through passages soft as a whisper 
to a roarmg climax that would have 
been incoherent with previous am- 
plification methods. 

“We have to sec the possibility of 
having new pieces written for these 
instruments,” Arditti said. 

“We think it’s necessary to repre- 
sent all the areas we can satisfacto- 
rily play. 1 don’t think one could 
put two current oomposers together 


and say drey were a schooL That 
very definitely distinguishes this 
period from tire 1 950s, and it makes 
things much harder for the per- 
former. But this is a strained world, 
and art has u> represent what’s go- 
ing cm.” 

The Arditti Quartet, performing 
works by Giadnto Scdsi, Villa Me- 
dia, Rone, Dec. 12. 


Mark Hunter is a journalist who 
writes about cultural affairs in Eu- 
rope. 


any of the regional-rep rerivals that 
wifi doubtless follow when man- 
agements realize its remarkable 
economy of set. cast and action. 

□ 

A rather more dectrifyng two- 
hander is at the Gate in Notting 
HiD. where Neil Cunnin gham and 
Stewart Preston are playing out 
“Opium Eater,” Andrew Dali- 
meyer’s savage duet about Thomas 
deQuincey and his servant in 19th- 
century Edinburgh. An enfeebled 
ium addict and a disabled am- 
eion might not immediately ap- 
pear to be the two characters you 
would most choose to spend an 
evening with, but lire performances 
are unforgettable: Cunningham as 
de Quincey. leading “the damnable 
life of a hack” as ire is chased from 
attic to basement by Scots landla- 
dies outraged at his failure to ex- 
tract 10 guineas from Blackwoods 
magazine for a piece he has once 
again failed to deliver on deadline, 
and Preston as the demented re- 
tainer form a partnership as touch- 
ing as it is appalling. 

D 

Some weeks ago I drew your at- 
tention to the Royal Shakespeare 
Company’s production of “Les 
MisfiraMes” at the Barbican and 
suggested that it was the best musi- 
cal of the 1980s. That verdict seems 
to have been endorsed by audi- 
ences, since tickets at the Barbican 
have been all but impossible to gel. 
but as the show moves this week to 
the Palace with its original cast 
intact this might be a good moment 
to hightighi a curious split in criti- 
cal reaction. Those Americans who 
have reviewed it, from The New 
York Times through Time to 
Newsweek, have shared my belief 
in the brilliance of the score and the 
courage of a musical that is not 
about glamour or success but about 


Turkish Playboy Planned 

Thr Associated Press 

ISTANBUL — Playboy will 
start distributing a Turkish edition 
next week — the first Playboy to be 
published in an Islamic country, 
according to AH Saydam, chief edi- 
tor of Playboy Turkey. 


failure and hatred and sudden 
death. 

My local colleagues, however, 
with one or two exceptions, have 
resolutely rejected it; Indeed, the 
usually reliable judges on tire Eve- 
ning Standard panel were so eager 
to deny it a hugely deserved trophy 
that they gave their best new musi- 
cal award to the Elvis Presley bio 
“Are You Lonesome Tonight?" 
which is strictly speaking not a new 
musical at all but a documentary 
drama with songs. Why the irons- 
Atlantic split? Perhaps .American 
reviewers have learned at last the 
lesson of “Sweeney Todd," which is 
that a great musical does not have 
to be a constantly cheerful one. If 
so, could we not learn that lesson 
here too? Or do we have to wait 
until the English National Opera 
does “Les Miserables” at the Coli- 
seum, os they one dav undoubtedly 
wiU? 


Contest to Recall 
Flier’s 1811 Feat 

Reuim 

U LM, West Germany — .An 
international competition will 
be held next June to re-enact the 
exploits of Albrecht Berblinger. 
“the Tailor of Ulm." who. after a 
plunge into the Danube wearing 
homemade wings, made successful 
flights 175 years ago. The city- 
sponsored competition will carry a 
prize of 50.000 Deutsche marks 
(now $20,000). the Ulm newspaper 
Profil said Tuesday. 

In 1 SI 1, the tailor, with six-meter 
cloth wings strapped to his back, 
dived from (he city wall and tried 
to swoop across the Danube. Sec- 
onds later, to roars of laughter, he 
plunged into the water, and despite 
his later successes, this is how histo- 
ry fondly recalls him, Profil said. 
Today the reason for his initial fail- 
ure is dear, it added: He had not 
allowed for the downdraft over the 
river. 

Contest rules say “only flying 
machines similar in construction to 
that used by tbe Tailor of Ulm" 
may be used and fliers have to 
jump from the same walk 



Falcon 100. 

The million dollar difference 
that leaves the competition 
out of sight. 












After all, there are other eotporate aircraft 
on the market with that type of cabin and two 
jets. But the comparison ends there. Because 
when you look at safety, performance, life 
span or resale value, the Falcon 100 Is In a cate- 
gory of Its own. 

No other business jet has such a sturdy 
construction, no other business jet- combines 
compliance with airline standards and combat 
plane manufacturing methods. 

The result: no speed limits in turbulence, no 
detours caused by king, no limitations 
In life. 

It is the fastest business Jet 
available making for tremendous time 
savings while other time savings stem ~ 


its slow flight capabilities when it can go places 
off limits to other Jets. 

Lower approach speeds mean safer landings 
but the essential safety feature Is the ease of 
handling at any speed, any altitude and here the 
Falcon 100 is far out ahead. 

Last but hardly least Is the durability and 
resale value ; advanced design and sturdy cons- 
truction pay off: the Falcon 100 Is at the top of 
the list... year after year. 

In the competition, essential values keep 
the Falcon 100 above the crowd. No wonder 


leaders such as IBM, Sony, Rank Xerox, Saab or 
Volvo to mention Just a few have chosen the 
matchless Falcon 100. 

Dassault International 



Pleue tend me the Falcon 100 color brochure. □ 

1 would Hite a nlej proemaUon. □ 

Name/Tide 

Company 

Addr -n 


Now ttylngi 


Please return eta coupon to Mr. Paul Dekmne. Dassault International 
27 rue du Pnofeueur Pauchot * 92420 Vaucreuon* France. 

Tei. (33.1) 4741 7921 -Telex 203 944 Amadas. 




Business takes off with Falcon. 








Page 8 


WEDNESDAY, DECEMBER 11, 1985 


Hera! 




(tribune. 


PubliAcd With Tbe Nev YoekTinra sad The Wmhingum Port 


The Post-OPEC Priorities 


Once mighty OPEC has abandoned its 
struggle to prop un ofl prices. If members 
expand output as much as oil analysts expect, 
the price of a barrel could soon fall by as much 
as S 10 from the current $28 OPEC benchmark. 

Thai would be just desen for a greedy cartel 
and a striking lesson in the capacity of the 
industrialized world to resist economic stran- 
gulation. But a collapse in ofl prices would not 
be unalloyed good news. It could M us into 
a gain accepting dependence on imported ener- 
gy. And it certainly promises a new shock to 
the economies of poor oil-producing nations 

like Mexico, Indonesia and Nigeria. Unless 
importing nations act to secure the benefits, 
the decline in ail prices could prove almost as 
harmful as the steep increases of a decade ago. 

In hindsight, OPEC’s undoing seems to have 
been inevitable. The razor- Lhin margin be- 
tween c on sumption and production capacity 
in the 1970s allowed it to quadruple the real 
price of dl without making tough decisions 
about how to divide the market But as prices 
exceeded $30 a band the world's supply of dl 
quickly rose and consumption declined. It was 
then up to Saudi Arabia, the only OPEC mem- 
ber whose production capacity far exceeds its 
need for revenue, to defend the cartel price by 
slashing production from a peak of 12 million 
barrels a day to just 2 milli on. 

Now, thanks to production increases by 
non-OPEC members, including Britain and 
Norway, Saudi Arabia has lost its leverage to 
hold the price at $28. How much more prices 


will fall and bow long it takes for the market to 
tighten a gain mil depend on the actions of 
importers as wdl as producers. 

If importing nations, notably the United 
Slates, pass on the entire price reduction at the 
gasoline pump, consumption will drift upward 
and hasten OPECs resurgence. But if they use 
the opportunity to tax away the windfall, they 
would preserve the incentives for conservation 
and push the cartel threat farther into the 
future. Moreover, such a relatively painless tax 
on imports could go a long way toward balanc- 
ing the federal budget: a $10-a-barrd import 
fee would raise revenues by $40 billion a year. 

Prudence in husbanding this should be 
matched by an enlightened, self-interested 
sympathy for the losses Of producers. Not 
every cal exporter's dollar is spent on surface- 
to-air missiles or Rolls-Royces. 

Much of the West’s oil is now bought from 
undeveloped, deeply indebted Third World 
nations. We cannot make up their revenue 
losses or quickly repair the damage done by 
their recent free spending oF the ofl bonanza. 
But Western national interests would be dam- 
aged by the further impoverishment of people 
who already live (at the edge of subsistence. So 
this will be a time for sympathetic responses to 
requests for delay in debt repayments, and also 
for help in divotifying the economies most 
dependent on raw material exports. 

The demise of OPEC is a hard-won gain- It 
should not be squandered. 

— THE NEW YORK TIMES. 


The deficit Show Goes On 


It is December, and the White House omi- 
nously reports that the deficit for the coming 
budget year, fiscal 1987, will be dose to $200 
billion. Yes, you have been down this road 
before. The cycle has become a ritual as highly 
stylized as Japanese classical drama. The 
fourth annual performance is now be ginning 
Each year in December the White House 
warns of a tremendous deficit ahead unless 
there are great changes. There follow six or 
eight months of intense struggle between Pres- 
ident Reagan and Congress over spending 
cuts. In midsummer a budget resolution 
enrages, and its authors explain that, while 
the immediate cuts are small^ the country 
been reliably set on a path toward declining 
deficits in the future. And then, some time 
after Thanksgiving, the president’s budget di- 
rector solemnly announces that the deficit pro- 
jection is once again up in the range of $200 
billion. It is as if the deficit were on a spring. 

Why does it keep happening? The basic 
reason is that the tax cut of 1981 has left the 
government without enough money to provide 
the basic services that most Americans, induct- 
ing Mr. Reagan, consider essential. This reality 
has been annually papered over by forecasts 
that have proved too hopeful 
Perhaps the ritual will change next year. 
You can already hear hints of it. Eminent 
people have begun quietly to suggest that, as a 


practical matter, it might be better not to 
reduce the deficit drastically just now. While a 
large deficit is not a desirable way to keep the 
American economy growing, this argument 
runs, it is essential in present circumstances to 
avoid a recession. Recession in the United 
States would have a fearful impact on Latin 
America, and might result in waves of defaults 
on debt. Financial institutions are »t«» under 
peat strain, you will be reminded, and a reces- 
sion might accelerate a rate of hank failures 
that is already disquieting. A U.S. recession 
would send European unemployment sharply 
higher, and it is already over 11 percent. 

Tbose are all valid points. But a more imme- 
diate concern is the effect of a recession on 
American politics. After much brave talk earli- 
er in this administration about savings and 
investment, the economy is expanding now 
only because of an enormous wave of borrow- 
ing and consumption. Nobody approves of it, 
but very few people are prepared to risk a 
recession to change it The 1987 budget now 
being drafted is for the year that precedes the 
next presidential election cam paig n. If the 
president and Congress do not get the deficit 
under control this winter, it is unlikely that 
there will be another attempt before the next 
president takes over. In terms of the budget 
and fiscal policy, that means 1990. 

— THE WASHINGTON POST. 


Now It’s Women’s Turn 


Two d ecades ago a landmark report from 
the surgeon general of the United States de- 
clared that cigarette smoking W3s a major 
cause of lung cancer. That this warning did not 
fail on deaf ears is proved by a new report from 
tire National Cancer Institute. The lung cancer 
rate among white males leveled off in the mid- 
*70s and has now declined significantly for the 
first time in 50 years. There is reason to hope 
that the decline will continue, for the percent- 
age of smokers among adult American males 
has declined since 1965 from 52 to about 30. 

The news is not . so encouraging, however, 
for black men and for women in America. 
Both groups show an increase in lung cancer. 
Although black males are more likely to bold 
jobs associated with disease risks, it is also true 
that significantly more black males than 
whites still smoke cigarettes. Urban tension 


and alcohol consumption are suspected as 
contributing factors. Blades appear also to be 
less likely than whites to have switched to 
cigarettes with lower tar and nicotine. 

As for women, they seem still to be turning 
to cigarettes as they take work outside the 
borne. Despite the medical warnings, the per- 
centage of female smokers has declined by 
only 3 percent in 20 years. As Joseph Califano, 
the former secretary of health, education and 
welfare, once pot it, “Women who smoke like 
men die like men.” Lung cancer deaths ia 
women have increased by 350 percent in the 
last 15 years; by the year 2000 their rate will 
probably surpass that among men. 

Surely the improved health of white males 
bears a dear message for all. Smokers ought to 
take it to heart and save their lungs. 

— THE NEW YORK TIMES 


Other Opinion 


Not the Way to Help UNESCO 


Britain and Singapore may deny that their 
decision to quit at the end of the year has been 
influenced by the United States. [But the] three 
countries have more in common with one 
another than with the majority of nonaligned. 
Third World nations that derive much from 
UNESCO and hove decided to stay within it 
The decision to quit is not without conten- 
tion. with strong protest in Britain from 
among the parliamentary opposition and the 
more liberal ranks of the Conservative Party. 


There have also been objections to Washing- 
ton's decision within the United States, while 
Singapore's position is not shared by its 
ASEAN partners. Quit decisions are not only 
defeatist, they deprive poorer countries of cer- 
tain development opportunities, and conflict 
with the spirit of international cooperation. 

Where difficulties arise in UNESCO, they 
are more likely to be overcome within than 
from outside. Financial blackmail is certainly 
not the most democratic or even the most 
effective means of achieving reform. 

— New Straits Tones (Kuala Lumpur). 


FROM OUR DEC 11 PAGES, 75 AND 50 YEARS AGO 


1910: Commanities Clash in Calcutta 


CALCUTTA —The agitation among the Hin- 
dus against the proposed sacrifice of cows by 
the Mohammedans on the occasion of the 
Bekrid festival continues. The Kabuli section 
of the community a tt acked the Marwaris [of 
the Hindu merchant caste] and many a free 
fight ensued [on Dec. 9]. Trams were attacked, 
and some fifty to a hundred people were in- 
jured. The Bengal Government has informed 
the Marwaris that the Government has no 
intention of interfering with religious prac- 
tices. [On Dec. 10] a large crowd of Moham- 
medans advanced into the Marwari quarter. 
The arrival of the military failed to deter the 
mob. The police charged the Mohammedans, 
who fled. About eighty rioters were wounded. 


1935: The Brhish Flag for Filipinos? 
WASHINGTON — The Philippines may ask 
for territorial status within the British Empire, 
Roy Howard, newspaper publisher, said [on 
Dec. 10]. The Filipino dream of independence 
is fading, be said, and it seems Congress will be 
asked to make permanent the present govern- 
ment in the Philippines under the American 
flag. “Japan's arms, which are stretching out 
ever more menacingly, today are casting a dark 
shadow over the Philippines,” he said. He 
predicted that if Americans remain disinter- 
ested in the prospective move for the perma- 
nent affiliation of the Philippines with the 
United States, business leaders in Manila “will 
approach Britain with a request for territorial 
status under the British flag.” 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY. Chairman 1958-1982 


KATHARINE GRAHAM. WILLIAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Chaimm 


LEEW. HUEBNER, Pub/uher 

PHI LIP M . FOISIE Exeaahe Editor RENfi BONDY Dauty Pubtisksr 

WALTER WELLS Editor ALAIN LECOUR Associate Publisher 

SAMUEL AST Deputy Editor RICHA RD H. MORGAN Associate PubOdur 

ROBERT K. McCABE Deputy Editor STEPHAN W. CONAWAY Director cf Operations 

CARL GEWIRTZ Asuxiait Editor FRANCOIS DfiSMAISONS ■ Director of CircuicttOn 

ROLF D. KRANEJtUHL Binder tf A d mtmt g Sola 
International Herald Tribune, 181 Avenue Chazfa-de-GauQe, 92200 Nemlly-sar-Sdra, 

France. TeU (I) 47.47.1165. Telex; 612718 (Herald). Cables Herald Pans. ISSN: 02944051 

Director de la publication; Waiter N. Thayer. jg jfljg* 

Mavpng Dir. Aar Makolnt Gbn 2444 Htnntssy Rd. Hong Kong, TeL M8S6I& Telex 6 WO. 

AAwaW Dir. UK.- Rebin MacKkhan. 63 Long Ao* Laden WCt Tet 8364801 Tdm 20009. Teas] 
Gen, Mp-. W. Germany: W. Laitrixxh, Friedrichs*. IS. MlFradfirUM. TeL (06^72055. 7Zc 416721. 

SA. aa capital tie f. 200.000 F. RCS Nemarre B 732021126. Canomsston Pariudnt No. 61337. « 

U.S. subscription: $ 322 yearly. Second-dess postage paid m Long Island City, N.Y. 11101. 

© 1985, International Herald Tribune. AH rights reserved. 


The Leader 


W ASHINGTON —The label on 
the “Gramm-Rudman deficit 


YV the “Gramm-Rudman deficit 
reduction plan” has a nice rhythm 
and rhyme to iL But a more accurate 
name for the measure that Congress 
is likehr to embrace, this week, as a 
way of dodging the blame for the 
runaway deficits, is the “Rudman- 
Gramm balanced-budget sham.” 

The rationale for reversing the 
names of the principal sponsors — 
Representative Phil Gramm, a Texas 
Democrat, and Senator Warren Rud- 
man, a New Hampshire Republican 
— is that Gramm-Rudman is the op- 
posite of what it purports to be. 

In the name of predictability — a 
measured five-year progression to- 
ward zero deficits — the legislation 
deliberately invites chaos. 

In the. name of responsibility, it 
virtually guarantees that the deficit 
problem wOl be passed bad and 
forth between President Reagan and 
Congress like a hot potato. 

In the name of fairness, it grants 
. budgetary immunity to politically 
privileged pr o gr a ms and guarantees 
that programs whose beneficiaries 
are weaker will taic« a disproportion- 
ate share of the cuts. 

Undo 1 the guise of toughness, it 
maintains the conspiracy of silence 
about the need for more revenues, 
and thus invites Mr. Reagan to main- 
tain the anti-tax stance that is the 
principal cause of the deficits. 

A remarkable thing about Gramm- 
Rudman is that many who are voting 
for it know it is a scam. Representa- 
tive Leon Panetta, a California Dem- 
ocrat and one of the conferees who 
crafted this marvel, told The New 
York Times: "The theme in what we 
did was to make tins thing so irratio- 
nal, so ugly that it works as a club.” 

The “dub” is the threat of imple- 
menting this **i»gV* and “irrational" 
process. Rather than la the slashes in 
unprotected domestic and defense 
programs required by Gramm-Rud- 
man take effect next year, the spon- 
sors say, the president and the leaders 
of both parties in Congress will at 
down and negotiate a more sensible 
set of budget compromises. 


By David S- Broder 


To which the experience of the past 
five years screams: Fat chance. For 
five years Ronald Reagan has dug in 
to protect his sacred cows (strategic 
weapons and lower tax rates) and the 
Democrats have been equally vigilant 
for theirs (Social Security and Medi- 
care). G ramm -Rudman does not re- 
quire other to yield an inch. Instead 
it posits that Mr. Reagan and the 
Democrats wffl join in an assault on 
other, unprotected spading. 

They wiE not What they will do 
is try to outfox each other in a game 
of legislative-executive chicken that 
bears no resemblance to a sensible 
consideration of the merits of rival 
budgetary claims. Faced with the 
mindless Gramm-Rudman. mandate 
to cut unprotected defense and do- 
mestic spending, 50-50, across the 
beard. Congress wOl be invited to 
appropriate even more lavishly than 
it does now — and Mr. Reagan to 
veto appropriations even more off- 
handedly. Out of this mischief and 
chaos, the most basic policy of the 


government of the workfs most pow- 
erful nation is somehow to emerge. 

it is a fraud — and a fright. Any 
proposal that addresses the budget 
process instead of immediate and real 
choices on spending and taxes is a 
fake. And Gramm-Rudman is a dan- 
gerous fake, because it invites — in- 
deed. requires — irresponsible be- 
havior at every stage by every one of 
the major players in tbe legislative 
and executive branches. 

The cm against Gramm-Rudman 
was conclusively made last month tty 
Senator Charles McC Matitias, the 
Maiyiand Republican who is retiring 
next year and is free of the require- 
ment for political posturing that per- 
suades so many ofhis colleagues they 
had better vote for this travesty. 

Gramm-Rudman “searches for a 
way to evade the hard choices that 
deficit reduction demands,” Senator 
Mathias said. “It strives for a way 
io reach that goal without taking 
responsibility. It represents budget 
b alancing by anonymous consent.” 


And he shares the doubts that have 
been raised about constitutionality. 


The Gramm-Rudman orocess invests 
three sets of appointed civil servants 


three sets of appointed civil servants 
— in the Office of Management and 
Budget, the Congressional Budget 
Office and the General Accounting 
Office — with authority to require 
one elected official, the president, to 
impound funds lawfully appropriat- 
ed by another set of elected officials 
in Congress- If that is what tbe 


Is Too Busy 
For Business* 




By Philip Gey el in — 

W ASHINGTON — You can 
hear the wooshing sound of air 


• A Hr* 


founders intended, it is a puzzle why 
America bothers with elections. 

But beyond that. Senator Mathias 
said, “the measure before us raises 
another, equally troubling da n ge r , 
the danger of abdication of constitu- 
tional responsibility. Tbe proposal 
strives for a system that makes both 
legislators and the executive impo- 
tent spectators of the budget process. 
But it will fafl and it deserves to fail” 
He is right- And when the failure 
and the fraud of Gramm-Rudman 
becomes evident next year. 1 hope the 
voters will deal with those who con- 
. cocted and supported iL 

The Washington Post. 


escaping. Like a leaking tire. King 
Hussein's once brightening hopes fan 
forward movement in tbe Arab^ Israe- 
li “peace process'* are collapsing al- 
most as fast as they were building up. 

In October the king was at the 
White House and Ronald KcagsET 
was praising him for “moving steam- 
Iv and courageously forward” fat 
search of ways to get negotiations 


: io 


under way. Even congressional skip- 
tics were raodcstl v upbeat about the. 


tics were modestly upbeat about the. 
king's performance on Capitol Hill. 
And Israel's Prime Minister Shimon 


Peres was publicly praising King, 
Hussein for the “vision” he stewed in 


OI?Dl(W)lY.WEW3Ulbaa 
“IffiS Wf&UHGOFW 
Will. H0WEVB?. in Your 
■ LWE UNCLES CASE... 






■ami 


ftj gi w ilM u wwaixw 


Hussein for the “vision” be showed in 
his United Nations speech. 

There was a widespread betid that- 
tbe prickly issues of international' 
“cover” and appropriate Palestinian 1 
representation could be woriced out 
in time for Israelis and some joinr 
Jordanian- Palestinian negotiating 
team io get to the bargaining table by 
year's end. Now tbe year is ending.'" 

The king has not abandoned ids 
efforts, and Jordanian officials are 
remarkably generous in the credit 
they give Mr. Peres for his good faith. 
Not so with the United States. The 
long is putting it about that the 
Americans have lost interest — for 
reasons that be cannot fathom. 

That is the nub of it: There is do 
rational explanation for a diminished 
U.S. interest in the case. The spoiler 
in the “peace process” now appears 
to be nothing more than the vagaries 
of Ronald Reagan’s attention span. 

The result is a general tendency in 
a loosely run system io let events 
dictate — and abruptly rearrange — 
sensible and sound priorities. 

It is true that some significant 
events have occurred since the king’s 
October rial to Washington. Even as 
he was making his case to members at 


A Test for Journalism: Keep Covering South Africa 


W ASHINGTON — The South African gov- 
ernment sought to justify tbe orders it 


By Flora Lewis 


YV eminent sought to justify the orders it 
issued on Nov. 2 to keep reporters and photo- 
graphers away from scenes of violence with the belong to the Western world, not to be shut off as 


claim that their presence provoked the violence, a pariah. It wants to maintain the good life for its 
It was bogwash. The evidence now shows that privileged whites, which requires keeping eco- 
Violenoe has continued twmhatad After the nomic, cultural and other contacts. It wants the 


attempted blackout was imposed there were 13 assurances of democracy, the satisfaction of free- 
people killed in Mamelodi on one day. Unrest dom, but only for. the ruling minority. 


In black communities has increased, if anything. In the long run it will not work, as the United 

It was not staged for cameras. States found out in the Gvfl War. 

There remains the question of how successful Meanwhile, South Africa’s partial news ban is 
the authorities have b«m in hiding the struggle, a challenge to Western media. On Tuesday the 
Pretoria was not just trying to conceal the news New York-based Committee to Protect Journal- 
from its own constituents: there has long been ists was presenting a petition and organizing 
censorship. The point was to hide it from me rest protest demonstrations at South Africa’s United 
of the world, particularly from Americans. Nations mission in New York and its embassy in 

The most serious blow to the apartheid regime Washington. That would get on the air. 
so far, much more effective than sanctions, has The challenge is not only the impo 


troubles that break ouL Nonetheless, editors say 
they are getting and publishing the facts. But 
television and radio people have been ordered to 
stay away from emergency areas, on pain of 
imprisonment, high ™es and expulsion. 

Television has a greater problem, which pre- 
sents a conflict between news judgment and 
ethics. Inevitably television goes for the story 
with the good dramatic picture. Should that 


policy be deliberately overruled when pictures 
are blacked out by government order? 


are blacked out by government order? 

The answer is dearly yes. It is the responsibil- 
ity of editors to continue presenting the news, 
even in the dull form of an oral report against a 
blank screen or a background of earlier file 


Congress, the Israelis launched an air 
attack on PLO headquarters in Tu- 
nis. Tbe immediate fear that tins 
would torpedo the “peace process” 
proved unfounded, but then came the 

the Achflfe Laura, with all tiw^d^o- 
matic uproar that followed. 

There were also the heavy demands 
of tbe Geneva su mmi t. Finally, there 
was a direct U.S. Jordanian issue in- 
volving congressional efforts to shut 
off U.S. arms soles to King Hussein 
— a tug of war that was resolved by 
putting tbe question off until March. 
Not surprisingly, the compromise did 
not sit well with King Hussein. 

But the “peace process" appeared 
to be weathering all those strains and 


pictures, with an explanation every time that 
in South Africa has banned films of current events. 

Network officials say they are doing what (hey 
of can. South Africa co mp l ains that earlier reports 
as gave a misleading impression of the whole coun- 
in . try in flames. The CBS foreign news editor, Sam 
he Roberts, says that his network could do more, in 


so far, much more effective than sanctions, has The challenge is not only the imposition of 
been tte run on the rarnL the reticence of foreign harassment? and barriers with widen reporters 
banks to grant credits, the second thoughts of and cameramen have had to become familiar in 
investors about the safety of their capital Pro- full-scale police states. It is a challenge to the 


distractions. According to reliable re- 
ports, Mr. Reagan telephoned Kina 


greater depth, if it were not refused sufficient 
visas. But. be says, “We won’t give up.” 


visas. But, be says, “We won’t give up.” 

Ibis is a test for American journalism, but also 


toria apparently concluded that these. people ingenuity, determination and integrity of those greater depth, if it were not refused sufficient 
would not react if the teenes were kept ofl whose profession it is to provide the news. visas._ But. be says, “We won’t give up.” 

television and front pages. Newspapers have had an easier time than This is a test for American journalism, but also 

But lack of news has not stopped fighting (derision in South Africa. Reporters don’t stand . for the public. It will influence future editorial 
in Afghanistan or between Iran and Iraq. It is out so obviously as camera crews; they can judgment if tbe results show that people are not 
possible to shut down all but a trickle of ihfor- sometimes duck around and get to the scene of interested unless they see shocking pictures — or 
mation about countries that don’t want the world action.They have contacts wham they can inter- if they show that people cannot be hoodwinked 
to knowhow they repress their disaffected peo- view after incidents, and they can tdl the stray . by the blackout and understand its purpose. It is 


to know how they repress their disaffected peo- view after inridents, and they can tdl the stoi 
pie. But the price is total dictatorship, and iso- even if they are obliged to take it secondhand, 
lation from the free community. Print journalists are obliged to request polic 


if they show that people cannot be hoodwinked 


Print journalists are obliged 


That is South Africa’s dikmma. It wants to permission and accept a police escort to ol 


by the blackout and understand its purpose. It is 
a fine case for demonstrating what both purvey- 


a fine case for demons: rating what both ] 
ois and consumers mean by a free press. 
The New York Times. 


Democracy Needs News; Terrorists Need Scrutiny 


L ONDON — How are terrorists to 
• be prevented from using the me- 


J— < be prevented from using the me- 
dia as a platform Tor their views? 

I ihmtc we have to admit that ter- 
rorist groups receive more attention 
and make their positions better 
known because of their acts. Few 
people had heard of Hanafi Moslems 
or Basque separatists before those 
groups carried out terrorist acts. 

However, the media must make 
every attempt to minimize the propar 
gartda value of terrorist incidents and 
to put them, into perspective. We have 
a duty to inform our readers and 
viewers of the terrorists’ backgrounds 
and demands. But terrorists are crim- 
inals. We must make sure we do uot 
glorify them or give unwarranted ex- 
posure to their point of view. 

Fart of the challenge is maintain- 
ing control over the collection and 
dissemination of news during a crisis. 
We often think of terrorists as unso- 
phisticated, but many are media sav- 
vy. They can and do arrange their 
actions to maximize exposure and 
have the stray presented their way. 

Terrorists have done all the follow- 
ing to influence coverage: arrange for 
press, pools; grant exclusive inter- 
views during which favored reporters 
are given carefully selected informa- 
tion; hold press conferences in which, 
hostages and others are made avail- 
able to the press under conditions 
imposed by the captors; provide vid- 
eotapes that portray events as the 
terrorists wish them portrayed; 
schedule events and the release of 
news to meet television deadlines. 

There is a real danger that terror- 
ists notonly hijack airplanes and hos- 
tages but hijack tbe media as well. 

To guard against this, American 
netwoncs almost never let terrorists 
appear live. They also resist using 
videotape provided by terrorists; u 
there is no alternative, commentators 

continually report that the material is 
“terrorist-supplied.” likewise, when 
terrorists make hostages available for 
interviews, commentators repeatedly 
indicate— or they should — that tbe 
captives are speaking under duress. 

Bat forbidding terrorists their plat- 
form goes beyond tiring these and 
otbesr techniques. It is more an issue 
of exercising sound editorial judg- 
ment, Over the years,' the media have 
constantly been confronted with at- 
tempts at manipulation. We have 
learned to draw the Bnej although the 
decisions are often difficult. 

A few years ago a Croatian terror- 
ist group m a plane demanded that its 


By K a th a r ine Graham 


Mrs. Graham is chairman of the board of The Washington Past Company. 
The following, the second of two parts, has been adapted from the 1985 
Churchill Lecture, which she delivered at Guildhall in London an Dec. 6. 



• - • ;* .... .i 



that people can and do make intelli- 
gent decisions about great isues if 
they have the facts. But some politi- 
cians appear to be afraid that people 
will beheve tbe . terrorist’s message 
and agree not only to his demands 
but alio to hu beliefs. And so they 
seek to muzzle the media. 

Ultimately, a terrorist attack is a 
self-defeating platform; terrorists in 
effect, hang themselves whenever they 
act. They convey hatred, violence, 
tenor itself. There was no clearer 
i mag e of what a terrorist realty is 
■than the unforgettable pictures of 
that crazed man holding a gun to the 


ports. Mr. Reagan telephoned King 
Hussein at the end of October ana 
got the impression that the king was 
prepared to “swallow" the delay in 
the aims deal. For his part the king u 
thought he had a- commitment from H 
Mr. Reagan to take up with Mikhail 
Gorbachev the question of some sort 
of international “cover" for Israeli- 
Jordanian negotiations. King Hus- 
sein thought be had an agreement, as^ 
well, that tbe Reagan administration 
would be ready after the summit to rf 
give the whole Middle East peace 
effort a strong nudge forward. 

By some accounts. Richard Mur- \ 
phy, assistant secretary of state for. ~ 
tbe region, drew up a post-summit '■ 
plan of action for Secretary of State 
George Shultz. Mr. Reagan was lo - 
consider it during the Thanksgiving 
retreat to his California ranch. Some-' • 
where in the bureaucratic machinery 
the plan gpt chewed up. The specula- 
tion is that Mr. Shultz or the Whitt 
House thought that there- were more 
pressing demands on the president's , 
time or, perhaps, political capilaL .'-Jp 
In any case, Mr. Murphys receaL: 
call on the long at Amman was some- -'' 
thing of a bust — as the Jordanians^ 
see it. Mr. Murphy arrived more 
less empty-hand e d He could report L ' 
nothing much from tbe summit be-'-. 
cause, as it touted out, the Middle : 
East “peace process" was scarcely : 
mentioned by the two top men. - ’ 1 
You could argue that there were-’ 
more than enough hard cases to dis- 
cuss at Geneva. Besides, Mr. Shultz’s ' 






ssssssassss as^^-*ass- 

TWA jet That said it aU to me. tssadtobe > 

f 1 11 " 1 ™ 1 . “ that is the case, some- t 


In IMS ABC N«m Wnldon pldwa, tihtrftxrtad by Dm AmocMM Pr*» lart Jimw W. 
a tarrortt wftfi a nun litanm pilot jatmTMhvlwInfha cocfcpIf afaTWAalrlliMrln BafniL 


state me nt be panted in several news- -hand Hostages and; their families 


s, including The Wa shi n 
before it would release 50 


are, understandably, the most biased 
of witnesses. The media must exercise 


Suppressing or rationing the news 
provides no solution for the long 
term. If a government cannot make 
its case by democratic means in the 
face of violence, its policies must 
be misguided. Witness the current 
events m South Africa. The govern- 
ment has banned television cameras 
from areas of unrest and made 'it 


im ninm i. u mat is tne some- - 
body at least ought to. uril King Hus- 
son more or less where the “peace ' f 
process” resides on .the adndmstra- J. 
non s list of priorities. 

You can make a bad case for alow, 
priority. You can make a good case- : 
for a consistent follow-through car- : 
one of the few for eign policy, issues' 1 
titqi bear the stamp of a distinctive 




tages. We printed the statement in - the same standards with them as with 
agate, the smallest type aze we have, any other news soured 


in 37 ctmies at the end of our press ' A final pitfall for the media is be- 
nin. Today I am not sure we would coming, even inadvertently, a negoti- 
accede to this demand in any form, alor during a criris. As much as we 


abhor terrorism, tire media cannot be 


Another challenge is how to avoid diplomats, negotiators or agents for 
bringing undue pressure on the gov- the government If terrorists or urban 


eminent to settle terrorist crises by rioters think we are — if they believe. 


whatever means, including acceding for example, that we win turn over 

to the terrorists’ demands. unused tapes, pictures or notes to the 


Slate Department spokesmen trill police —they wOl not grve.ns infor- 
me that media coverage does bring mation. They may even attack us. 
pressure on the eovermnenL but not ” ' □ • 


won t work m tne long run. 

. In short, the media serve tbe inter- 
ests of democracy best by gathering 
-the news and reporting the facts as 
best they can. Haring experienced 
people at (he helm and exercising 
sound judgment an the basis of Ugh 
professional standards is the best we 
can ask. It is afl we should ask. Pnb- 
lidty may be theoxygen of terrorists, 
but news is the lifeblood of liberty. 

'International Herald Tribune. 


pressure on the government, but not" 
undue pressure. AD the same, I be- 


reason other than tfrg administrtk • 
lion's inability to establish an agenda 
of serious concerns and tohotatob: 
nnder the pressure of the ineritahto-- 
< “ slra ctions. That is a certain imntA> ' 
tion fra King Hussein to give up oe i 
what is, for him, at best a .chancy ' 
process.” It is an incentive a$J 
™1 *or him to tend to liiVkHiwkmV ■ 
shaky security by looking dsewhert- 
lor arms and other support. .... . '< 
Washington Past Writers Group - -Z 


V 


AH serious, professional media 


lieve there are pitfalls of which the around the wrald are anxious to be as 
media should be exceedingly careful, responsible as possible. Unfortunate- 
One is the amount of coverage de- ty, high standards of professionalism 
voted to a terrorist iiradeaL During a do not guide every media rag ani za- 
crisis we all want to know what is tkm orevay reporter. And I regret to 
happening, but constant coverage- say that once raw of these less scrupu- 
can blow a terrorist incident far out Ions or less careful people. reports 
of proportion to its real importance, some piece of -information, aD the 


LE ITEMS 'll) THE EDITOR 

Helief Work in Sudan Fnmn c^i_ 


OvereXposure can preoccupy the media fed compelled to foflow. Thus 
public and the government to. the it is true: Tbe least responsible per- 


exdusion of other issues. 


son involved in the 1 process could 


Another pitfall is the problem of determine the level of coverage. 


interviewing the families hostages. 
There is a natural curiosity about 


All these problems are serious; But 


In rehouse to yoor report “Sudan 
Expds Three Relief Organizations” 
(Nm. 29) stating that thelnternation- 
al Catholic Migration Commission is 
bang expelled from Sudan, the 
ICMC categorically denies any in- * 
volvanent in tbe airlift of Faiasha 
Jews to Israel via' Sudan. At no time 
did thelt^CpMticqiateintlteplan. 

mnintrimnlMwiiaKnfi n r.L.. i-. 


Flora Lewis provides a contis*-. 
the Afghan situation as it'” 
orally is. {“How to Hdp the Soviet 

AJjJMUrtarJy there is no way out fort: 

Afj£anSoJ-.‘- 
idan ty has just been incorporated is ’ 
JJSfgfffiany.wiih the purpose ofo 
°* Com fflg a forum f« Am 


bow those near and dear to the cap- despite tbem I believe that the beoe- 


mngrainririenxaitation of thatmiiFr 3 r °™m fo 

TtelOShaTlKtt involved since of postal 


rimocottc 


suit More to the 
danger that put 


at, there is a real passes the evils of broadcasting even 
o pini on can be erroneous or damaging information - 


have been carried out with the full 


unjustifiably influenced by exposure Freedom itself is at. si 


to the hostages’ relatives and their Democracies rest an the befief, 


views. This can force h government’s whlchtbe cos tunes have proved true, ■' 


ELIZABETH WINKLER, 
General Sccieuuy, 
'ICMC, .Geneva, 


^dawttnmenL-And 5«m»- 

we win need the unselfish hdo of « 
inends in the We* \ ^ l 


^ ABDUL R. ASSADL . - 
— Afghan Sofidarity. “ .- 
Wflrzburg.West Germany. • ' 


NC"’ 
















!l£i 




sties Index 




aEXHfcM P.W CoraHw rtforti p.— 
•XNbMAmsNM Fline rata-rata- PJ4 
m P.» ' OoW-mcrtote P.9' 
rse tuanem pm totem* rates ‘ P. i • 

MQdkn«M3B P.1* MnUmimarV P.M 
i.jrtww'nPB* P.t Option . . P.M 

(Jtxnmoatlss ■ . p.m . OTC 8Wit • • PJ3< . 
Tytanfa - -p.n mrn-gtarutt pje . 


HftalbSEEribunc. 


BUSINESS / FINANCE 


U.S. Stocks 
Report, Page 10 




WEDNESDAY, DECEMBER 11,1985 


** 


Page 9 


j t. 

. ■ N 

ir.- .. 

* 

- •: a: "l 
■ 


INT1RNAT10IWLMAIIAGER 




ions in Europe 




§>: 


By SHERRY BUCHANAN 

n International Hemid Tribuae 


'There is no 


to 

remnnerathm, it’s a 
market.” 


ARIS — LLS. chief executives can become miHkmaircs 
. through attractive stock-option pjans. But in Europe, 
some oompaaMS still wonderwhether giving a chief 
executive the . opportunity to become a millionaire 
; t 7 ^-ihroagh a stock-option. plan is worth it to the company to its 

c shareholders. -. 

r-C ‘ In 1984, 23 of.the25 higtiest-paidi chief executives in the United 
•-■- -.‘^States earned more than SV miDion in long-term compensation, 

: v^'wbidi includes options and cash boouses. 
f .-\ ;i “The concept of being a way rich man through working as & 
'• -..manager for shareholders is not one that has really t»Wn root 

l here yet,” said a British execu- r 

;■ - > j'tive with a large nmltinatioh- 

: -i That privilege usually is re~ 

1 ‘ ^ served for company owners. 

But if European countries 
' - ^'vcontinneto grant and enforce 
. ^."■'tax breaks for exeaxtive-op- 

'j : -< ,- tjon plans, corporate mental- 
7 ~ - pities are likely to change. , 

Most plans give executives 

•/ > 'the option to buy a certain amount of stock in the future — 
. usually three years down the road — at today’s prices. The 
< executive benefits only if the share price rises dnrrng the option 
: v V -period. 

’ “Some companies fear that the schemes might actually encoor- 

.■:age executives to leave if after exercising their options, they use 
" their gains to take early retirement or to set up their own 
business,” says Tony Vernon Hareourt, remuneration specialist 
. -- and partner of Monks Publications in Stratford-onrAvon, En- 
• - c;- gland. 

■” : - Seme British and French companies do not want to use stock- 
: ■ (Option plans as an incentive for lop executives, believing instead 
v that option plans should encourage greater corporate democracy 
" ^by increasing the employees’ identification with die company and 
■„ dbeir stake in its future. 

- -- According to a November 1985 survey by Coopers & Lyhrand 
" ~ l^ and Monks Publications, most Bt^bTi companies with such plans 
--grant them to executive directors or to directors of the principal 
J ; -suhsicfiaiy companies. On average, a group of companies with 
' TV' 1.0,000 employees will grant executive stock-option plans to 60 
top executives, the study found. 

“The nature of pur share-option scheme was not designed as a 
hot-shot executive-incentive package,” said Don Pattendon, 
- '-group manager of employee relations at BAT Industries PLC, the 
---diversified British group. “In the United States, success is ad- 
A - mired. But in Britain, one of the problems is getting over the 'we- 
~ and-they attitude,’ where employees don’t see any community of 
^interest with shareholders.” 

- BATs stock-option is open to all employees in Britain who 
- : have been with the company at least four years. It is a one-shot 
- package of options with a market value equal to an employee's 
- 1 annual salary. 

T AX BREAKS are now available for executive-stock-option 
plans in Britain, but even if a company believes in a more 
widespread distribution of the snares; mast companies 
. .may resist introducing such plans except for upper-level manag- 
ers. The 1984 legislation reduced capital-gains taxes to 30 percent 
from 60 percent. 

“There is no particular logic to remuneration, it’s a market,” 
said another British executive at a company with a stock-option 
plan for all employees. “We have amply not been driven into 

- (Omtiraiedoo Page 15, CoL 1) - 


-A 


Currency Hates 


VmsIUim 


Ike. 10 


.... 

( 

s 

DJMu 

Ff. 

ItJ- 

CWr. 

OF. 

%JF. 

Van 

. RUMrdam 

MU 

4.nt 

lllfl- 

34W 

0.145S- 

— 

3414- 

13499- 

MUD* 

- ranWaJ 

51.725 

7445 

SMI 

4449 

2994 - 

10044 

_ ■ . 

209 

25488- 

-luaWart 

154TB 

344 

— . 

3277- 

14703a 

NT*- 

490- 

11991 • 

X34B- 

. ; ondao Cb) 

UJ5 

— 

34438 

1U7I 

24745D 

4.M3 

74J75 

inm 

292995 

lHan 

V2BJ0 

M90J0 

MUD 

22290 

— 

40405 

31439 

nsM 

0*91 

ewYortUO 

— 

04974 « 

25M5 

7J445 


209 

51 J4 

21215 

38M8 

- arts 

7J57 

1M415 

34515 

__ 

440a 

. 27H2 

149985- 

14575 

39889- 

_b*yh 

MMS 

2N22 

BJ4 

2428 

JU2- 

7U» 

39443- 

*1.14 

— 

- ertdb 

2.TW 

. 10*54 

tut 1 

27345- 

0.1224- 

74.125- 

49958- 

— • 

19*17- 

'ecu 

Men 

earn 

zim 

47074 

V4K3I 

14754 

447345 

193*4 

irons 

* SDK 

INST* 

uat 

mm 

UW 

HA 

21M4 

54.1425 

fcA 

22058 


Water Dollar Valnes 


iMllM OJO 
nVnri.* I JKO 
ntr.KHL 17 JB 
tta.lta.fc-. 51.75 
-rattens. IMSjOO 

IS um 
ueu 

*.1973 
iass 


PtarnMn SM 

erattarac 150JB 

Hoao Kong C 7X8 
12.16SS 
1.1ZU0 

McbS OBT9 3M.I 

braefl stack. \AUOD S.ASr.1 

Kiiwan dhtr 02913 . S. Kor. 
Motor, rlno. 2X29 


■ US* 
<75.00 
7JWS 
12JS 


I5B.K Taiwan S 39*2 

X6S1 TMfatttf 2AM5 

2.123 Torkbli Bra SSI JO 

240 UAEdkftcn X672S 

was Vtara-boUr. 1525 


Interest Rafcs 



WMT 

hnllnr 

D-Morir 

its 

Stotts 

Franc 

5tarUm 

Franck 

Frame 

Dec. 10 

ECU SDK 

naatta 

StwftK. 

4*40, 

4164m 

11 ev-im 

tO-lOft 

9 16-9*1, 

an. 

imams 

MW 

iVi m 

44ft 

nft-nw 

TOft-»ft 

8 46-9 V. 

e 

Mams 

8VV8V6 

fViilL 

44ft 

1146-1144 

1096-lift 

8 46-9 K. 

8 

nanHti 

amftii. 

4*-4ta 

4 Hr4ft 

lift-1146 

lift-lift 

B964 

D 

•oar 

awe** 

496-5 

4ft4tt 

1146-lift 

W96-1196 

8444* 

8 


vma; Moryai Guaranty (dollar, DAL SF, Pound. FF); Uoycts Bank (ECU); Rooters 
DRt. Ratos amMeatHo to Mor b ank a &postts at si mtuton minimum (or oautuatoath 


fay M — ey Rates Dm. 10 


PA 


m 

m s 
'KtaBota W> 9ta 

" cfcor Lena Rote * MVi 

nPassrH-vtean 730 7JS 

mtaOTrararr BOi 7,n 7.» 

■MWTraanrvBUi 722 72* 

yiuotoan 7M TM 

n 6041 COTS 7M 735 


t9 8enoan 



iiirtMrair 


frtn\' flS55 

. i ! »■ arvaritanBota 

- 1 ■ -lUiran 

1 ..." "Banana In tartcak 
» 


430 

415 

430 


430. 

435 

430 


ok Bras Rota 
IMMff 

.tarrrcaary am 
mrib loKrtiitak 


'torMcrtoak 


■u M 

9 n 

sun* s in* 
iu/i6 sun*. 
9 nine 


lift ■ im 
njl im 
- 11502 
-11 73/M 


5 5 

Ift B7/U 
BVU 61 ns 


■rets: Reattrs. CammsntmL Crtrfff 
woaflootorTaira 


AsIm BoOar Dopsdm 

Dec. to 

1 inont* 

3 mounts Bta-SW 

3 montW BHi-SUi 

« montM SW-BUi 

I year SVi-Sta 

Source: Routers. 


DJ5. Money MirbeC Findh 

Dee. 10 

I SottO M Lyacta Beady toasts 
3S day overus e vlaW: 7 Si 

TWonrie lateral Rate Index; 7*3* 

Source; AierriH Lvneti, Teiorote. 


Gold 


AM. 


Die. 10 

PM. Cfttae 

31426 -410 


HOMKm 3173B 

UMtan JliB ’ — —441 

porta (12* kite) 31S.74 31375 -114 

zarlck 31430 3T7J5 -WO 

Loadoa 314.10 31736 -6y« 

HOW York — _ 317JB +1JB. 

LiMonMure PBris “** London official fix- 
k«s.- Horn top Zurich own big and 
Closing prices; now York Comer current 
contract. AH prices kt US. S ear ounce. 
Source: Reuters. 


Earkets Closed 


American Pressed by Low-Cost Competition 

Operating Costs 


Profit Margins 
Net income as a percentage 
of revenues (negative - 
data are losses) 


American 



For 7984, expressed in cents per 
available seat mile 


\ industry __2 

Average 


» 1 1 1 i - -4 

’SI *82 ’S3 ’84 ’88* 

Based on first nine months 

Source: The Airline Quarterly 


- r^4r:>: 

.8.4* 

Ir^us^ average 

"7.94 

American 

7.4C 


.•v6J2C. 

. V. A.NA . •. MX — * * . 1 /. 

.^8.24; 




:;;5.5C 


Source: The Airline Quarterly 
and company reports 


Uw f-taw York Tom 


Dresdner 
In Pact to 
Sell Unit 

UBS to Acquire 
Laenderbank AG 

By Wacnsn Gcder 

Imternalional fferoid Tribune 

FRANKFURT — Union Bank 
of Switzerland, Switzerland’s larg- 

to aoqp^Do^chc l acnctefmk 
AG, a owned snbadiaiy of 

Dresdner Bank AG, for an undis- 
closed price. 

lafinderiianTr. which specializes 
in international camnerctal credit 
and trading m securities and for- 
eign currency, formerly belonged 
to UBS. Dresdner acquired a 75- 
pereeat interest in die Frankfurt- 
based bank from UBS in 1969 and 
thea took complete control m 1980, 
a Dresdner Bank official said. 

The unit has assets of about 3 
biDioa Deutsche marks (about $1.2 
billion). 

Under teems of an agreement 
reached with Dresdner, UBS said it 
would retake full control of Deut- 
sche Laenderbank on. Jan. 1. 

UBS officials said they have no- 
tified the West German Federal 
Cartel Office in Berlin of plans to 
lodge a formal application for ac- 
quisition approval. 

The move. If approved by West 
German cartel authorities, would 
be one in a series of recent excur- 
sions into the newly liberalized 
Frankfurt capital market by major 
Swiss banks. 

Over the past year. Credit Suisse 
has bought control of Grendig 
Bank GmbH and Effccuribank- 
Warburg AG, two West G erman 
banks with combined assets of 
some 3 ttiDion DM, while Swiss 
Bank Corp. has established its own 
fan-underwriting subsidiary here. . 

UJS. investment banks admowi- /"t ~| • g A tt n m 1 -n 8 

Gorbachev Assails U.S. Trade Rules 

mce in Frankfurt next year, at- 

CmrfOed bf Otr Suff From Dt^odta 


One Big Airline’s Survival Strategy 

American Slashes Costs to Slave Off Discount Carriers 


By Thomas C Hayes 

Nm Top* Tima Soviet 

D ALIA S — American Airlines h flg for years 
lallraH about establishing a hob in Denver, a mar- 
ket dominated by its arch rival. United Antilles. 
The city, at die edg« of the U.S. central plains, is a 
natural gateway for rooting business travelers to 

YrtRobert L. Crandall, the sfaevS^id cocky 
chairman of American’s parent, AMR Coro., 
balked recently at the mospect of buying a ready- 
made base in Denver. Despite a war ch«t of $13 
billion in ash, he sat by as People Express bought 
Frontier Ahfines, the largest Denver-based carrier, 
for nearly $300 nuDum. 

Mr. OrandaB has fay no means lost interest in 
Denver. But, with American’s two-tier wage con- 
tracts in place, with its cost per seat-mile of capaci- 
ty among the lowest of ihemajor cariiers, and with 
its cadi flow high, the airline is Wrafaig it cheaper 


to move into new markets with its own planes and 
crews. American has already earmarked $6 billion 
over the next five years to add 160 planes to its 
fleet of 290 — an expenditure that Mr. Crandall 
expects will turn oat to be a prime cost-cutting 
move. “It is that principle of low costs that drives 
os toward internal growth,” he said. 

Cost control is the cornerstone of the 50-year- 
old chairman’s strategy to hdp American compete 
g gninqi the nnmerous airlines hungrily eying hs 
markets. For American, it is a strategy of survival 
Although the company is highly profitable, it has 
so far been stalled in its attempts to develop sew 
foreign *"■*»*« Thus, its prime avenue for 
growth, at least for now, has to be domestic. And 
that means getting costs low enough to afford the 
discount fares needed to keep People Express and 
other upstart conpetitora at bay. 

For now, despite their popularity with the Hying 
(Continued on Page 13, CoL 1) 


traded by West German central 
bank reforms that allowing 
resident foreign hank* to lead- 
manage nMBt-deponriiiittd Euro- 
bonds. 

Salomon Bro& said h has leased 
office space in Frankfurt for an 
initial representative office that 
could be expanded into a larger 
banking presence. 

TfM nfflfiiih ni 7 jmdi aHmrt giL 

edged that the bank, which ob- 
- tained a timing an die Frankfurt 

Rtatypxehattgem Tilly, U eelrrane. 

ly eager to participate in Frank- 
furfs robust bond-underwriting 
mid securities- trading business. 

Under Bundesbank guidelines 
established in May, foreign banks 
ran lead-manege DM-denontinat- 
ed Eurobonds rally if they are It^al- 
ly incorporated as German hanks, 
whether through an acquisition or 
through the establishment of afaHy 
licensed subsidiary. 


MOSCOW— Mikhail S. Gorba- 
chev said Tuesday that U.S.-Soviet 
trade relations could not fully de- 
velop if die United States contin- 
ued to deny the Soviet Union most- 
favored-nation trading status and 
imposed commercial embargoes. 

The Soviet leader, addressing 
U.S. Commerce Secretary Makohn 
Baldrige and ISO Ui business ex- 
ecutives at a dinner in the Kremlin, 
.said that as long as such obstacles 
existed, “there win & no normal 
development of Soviet-U.S- trade 
and outer economic ties an a large 
scale." 

About 400 U.S. executives and 
observers are in Moscow for a 
meeting of die U.S.-U.SJ5JR. Trade 
and Economic Conned that opened 
Monday. About 250 Sennet trade 
officials are taking part 

Earlier, Resident Ronald Rea- 
gan said in a message to die coun- 


cil, read by Mr. Baldrige. that trade 
was u> better superpower 

relations. The message called for 
more nonstrategic trade but made 
dear that U.S. export restrictions 
on technology and products with 
miblaiy uses would stay in place. 

Mr. Gorbachev, in his speech, 
said the Soviet Union had “a nor- 
mal and legitimate interest” in de- 
veloping scientific and technical 
ties with the United Slates. But he 
said that “we. will not beg anything 
from the “United States.” 

Mr. Gorbachev met Mr. Baldrige 
earlier in the Kremlin for 90 min- 
utes. At a news conference after- 
ward, the U.S. official said he had 
tried to explain to Mr. Gorbachev 
that “significant trade gains are 
possible within present policies and 
should be encouraged." 

The U.S. official said that in the 
talks, “both of us agreed thai an 
expanded trade relationship is one 


. Mamas m UmUoa and ZtaVcta. ilx/nae in other European centers. Hear Yet* rata* at 4 PM. 
31 Commerdol franc lb) Amounts niud od lotuycnauound (c/ Amounts nee de d to buy ana 
Marfj Units of HU U) uehsunmfy) UrU^ttmoaN-O.: notuuotwd;tfA.:rwfavoHobie. 
•) TUbuyeos p oued: fUSIAl 


U.S. Ready for Canada Trade Talks 


C wr eocY mt USJ 
Sovtatrotato 07*42 
154.1* 
772S 


Stwltao: MSirtahC 

Miras: Smw du Bensket (BneuetsU Banco Cemmerdale lloBona (Milan): Banovs Mo- 
Mata do Pam (Parts); Bank of Tokyo (Tokyo); imp (SDR); BAII (spoor. riyaL dkbam); 
tabank (ruble). Other data from Reuters and Ap. 


By Clyde H. Farnsworth 

Mew York Tima Service 

WASHINGTON — President 
Ronald Reagan is to notify Con- 
gress soon that he wants to begun 
negotiating a more Eberal trade 
agreement with Canada in die new 
year, administration officials said . 

The action, required under US. 
trade taw, will set in motion a pro- 
cess that could lf?d to important 
reductions in the remaning tariff 
and nontariff barrios between the 
two countries. Already nearly 80 


member of the Senate Finance 
Committee. 

Canada has moved cantionriy 
toward a new trade pact with the 
United States since Brian Mnl- 
roney became prime minister in 
September 1984. In September 
1985, the Canadian leader, who is a 
Progressive Conservative, officially 
informed Mr. Reagan that Ottawa 
wanted negotiations to begin. 

The pro-notification of Congress 
is an official signal that Washing- 
ton is ready to negotiate as well 

The president win teH the two 


Trade Commission, a federal trade- 
investigative agency, to report on 
the impact of free trade with Cana- 
da on sensitive U.S. in dostries. 

■ Camufian Trade Surplus 
Canada’s merchandise- trade sur- 
plus in October grew to 2J2 billion 
Canadian dollars ($1.57 billion) 
from an unrevised 1.82-b3Hon-<kd- 
lar surplus in September, Reuters 
reported from Ottawa. The Octo- 
ber surplus last year was 2J1 bil- 
lion doflare. 

In releasing the data, Statistics 


way we can build on that newstart 
from Geneva,” where Mr. Gorba- 
chev and Mr. Reagan met last 
month. Mr. Baldrige said the Soviet 
leader “dearly felt that a good be- 
ginning ba d been made.” 

Mr. Baldrige «*«d the Reagan ad- 
ministration had taken some action 
beneficial for U.S.-Soviet ex- 
changes, such as strengthening 
safeguards of the sanctity of trade 
contracts. 

But be said he saw no “immedi- 
ate plan" to give the Soviet Union 
most-favored-nation status, be- 
cause he believed that Congress 
would not pass such legislation 
now. 

U5S.-Soviet trade feO from about 
$4 billion in 1979 to about $2 bil- 
lion in 1980 because of sanctions 
imposed by Washington after the 
Soviet intervention in Afghanistan. 
The United States currently seQs 
SL6 billion worth of goods annual- 
ly to the Soviet Union but imports 
only S600 naHion. 

Tass reported that five US. com- 
panies had signed contracts with 
the U.SJLR. State Committee on 
Sdence and Technology during the 
talks. (AP, EOT, Reuters) 




fa 




nr tn. nl ______ ,1 ,L. r - lij lUUUUlfi JUUUUU 

percent m Canada s exports tome congressional committees primari- Canada said October exports, sea- 
- nHW * _ States enter duty-free, jy concerned with trade, the House sonaDy adjusted, rose to 10.90 bO- 

Ways and Means Committee and lion dollars from 10.67 billion dol- 
tbe Senate Finance Committee, 


while 65 percent d U^. exports 
pay so lanBs into Canada. 

Negotiations could start in the 
spring. Despite strong desires in 
Ottawa and Washington, to liberal- 
ize trade, the talks could take two 
or three years because of the com- 
' some issues and fears on 
sides about being disadvan- 


In Congress, members whose 
districts have lumber, steel and oth- 
er industries sensitive to trade with 
Canada were expected to try to 
extract concessions. 

*TH do what I can to prevent 
congressional approval until I see 
satisfactory progress of Canadians 
backing off their subsidy of 
timber, sad Senator Max Baucus, 
a Montana Democrat who is a 


Finance 

that they have 60 legislative days in 
which to object to the start-up of 
negotiations. 

Both tides have already desig- 
nated their chief negotiators. Otta- 
wa announced that Canada’s will 
be Simon Rdsman, former deputy 
minister of finance^ who negotiated 
a free-trade pact in automobiles 
with the United States in the mid- 
1960s. According to Washington 
officials. Us UJS. counterpart wfl] 
be Peter O. Murphy, a former chief 
American textile negotiator. He 
has been the deputy U.S. trade rep- 
resentative in Geneva far the last 
three years. 

The Reagan administration is 

expected to ask the International 


lars in September and 9.95 billion 
dollars in October 1984. October 
imports were 8 j68 billion dollars, 
compared with 8.85 biDioo dollars 
in September and 7.64 billion dol- 
lars in October last year. 


Q 


Carlyle 

Hotel 


■lad toon Avenue 

M 76th Street 

New York lOOM 
Cable The Carlyle New York 
International Ttatox 820692 
Telephone 212-744-1600 

A member ottbe Sharp Group 


r mancial markets in Thailand were closed Tuesday because of 
iday. 


Trade futures 

(iO rocnd-tnrn 

^ AO commission 

Now you esn tadefmures oooinemidi America's lsrtesi fimues 
daconsi firm for only SU round-turn coonntsaao. lids low me even 


»tule pxfing onfyforacaBto London, i. . 

duft yon an our customer. Normal fimues rates never exceed S34J 

fn addition to low coumisloas we oflfcryOBpruresstaaal and attentive 

service. Fw example, our Tradings Osmer Is open 24 hours so jrou can 

place onfea and Kt quotes vheuit'sconveaietn for you. 

Discover the advantages ofatfisoountc on a ni SB l ca mn aatfger our 

special $18 rale when yoa open your usdingsccount hr January 31, 1986. 
Seod your name to Hans Sttiufz, Haupcstr. 23, D-7I20 ffitilgheini. West 
GeimanyorcaD (49)7142-41434. 


LIND-WALDOCK 


Name. 


Address. 


Oty 


Phone. 


-Country. 


onir 

BH 

& 


For os little as 

$2500 

You cen now participate in the excellent profit potential 
of the precious metals and Financial Futures Markets, with 

CAPITAL RISK ELIMINATED 
and a 

GUARANTEE 

of your entir e investment capital while benefiting from 
the services of our London Investment Manogers who last 
year realised a net profit in excess of 100% 

For details on the 

GUARANTEED COMMODITY 
INVESTMENT UNITS 

please write to: 

CHARTERED COMMODITY CORP. 

W 

German Bank Tower 
Aporlado 6-32*6 El Dorado 
Panama Republic of Panama 
- (5071 GO 05 80 
tx No. 22 06 Charter PA 
a member of 

THE (JLAK 7 ERED GROUP LTD. 


U.S. Purchasers 
Are Optimistic 
About Next Half 


United Press huemarional 

NEW YORK— US. purchasing 
executives see improved economic 

r vth and moderate inflation in 
first half of 1986, but (heir opti- 
mism cools when looking at the 
latter part of the year, the National 
Association of Purchasing Man- 
agement said Tuesday. 

“Our members are optimistic 
that the growth in the economy 
registered over the past four 
months will accelerate in the first 
half of 1986 before moderating lat- 
eral the year,” said Robert J. Bretz, 
a Pitney Bowes Inc. executive who 
is chairman of the association’s sur- 
vey committee. 

The NAPM’s semiannual survey 
is based on data from purchasing 
managers £t 250 industrial compa- 
nies. The group’s monthly survey is 
widely followed on Wall Street. Its 
members represent a sector that 
comprises about 23 percent of 
gross national product — the total 
value measure of a nation's goods 
and services, including income 
from foreign investments — and 
thus their actions have a significant 
impact on economic growth. 

While 33 percent of the associa- 
tion’s members expect prices to rise 
in the first half, 97 percent believe 
the increases will be slight or mod- 
erate and 86 percent said their in- 
creases would be selective and not 
across- tbc-board. 

“With inflation not a factor, they 
expect 1986 will be better than 
1985,” by a margin of better than 
three-to-one. Mr. Bretz said. The 
purchasers expect modest growth 
in the first quarter that will pick up 
in the second quarter. 

“Looking out further, optimism 
cools as only 37 percent see the 
second half of 1986 as being better 
than the first,” Mr. Bretz said. He 
also said that 60 percent of the 
managers expressed some concern 
about prices- for all of 1986. 

Mr. Bretz said that (he impact of 
the weaker dollar on prices of for- 
eign suppliers was particularly wor- 
risome. He said managers indicated 
that they already were beginning to 
see price pressures from Japanese 
suppliers became of the stronger 
yem 

The managers also were con- 
cosed about the possible impact of 
lax reform and this, along with the 
uncertain outlook for the dollar, 
were principal factors in their cau- 


tion over the second half of the 
year. 

The response to the latest survey 
showed: 

• Companies are operating at a 
slightly lower rate of capacity than 
in May. but at the same level as in 
December 1984, when 27 percent 
said they woe operating at 90 per- 
cent or belter of capacity. 

• Thirty-nine percent of manag- 
ers of industrial companies expect 
higher capital expenditures in the 
□ext six months, about the same 
percent as in December 1984. Bui 
the percentage who expect to spend 
less on capital purchases increased 
to 33 percent from 23 percent last 
year. For 1986 as a whole, NAPM 
members see lower capital expendi- 
tures, with only 36 percent saying 
they expected them to rise. 

• The 33 percent who expect 
higher prices in the next six months 
was down from 90 percent who 
believed last year that inflation 
would accelerate in the fust half of 
1985, a prediction that did oot 
come to pass. 


Peru Suspends 
AU Repayments 
On Debt to IMF 

Reuters 

LIMA — Peru said Tuesday 
ihat it had suspended all debt 
repayments to the International 
Monetary Fund because it did 
not expect to receive any fresh 
loans from the lending body. 

Prime Minister Luis Alva 
Castro said the suspension 
would last until at least August 
of 1986. He said Peru had not 
made any payment since the 
first days of last August. 

The government said it will 
pay only creditors who remit 
more to Peru than ihey receive. 
It has vowed to pay only 10 
percent of its exports to credi- 
tors. 

Mr. Alva Castro said that the 
limit applied only to payments 
on the public sector’s medium- 
and long-term debt, which cen- 
tral bank sources put at $1 13 
billion of Peru’s total debt of 
about $14 bOlioo. 



^ world * m0Vi, S 

pfSMs t'tf 8 ® . # .raPll 




S.VfC CV r.lOXDAYS AtiD '.VCPKESDAYS 

CH *,\D ENGLISH 

RtPTiQL' Gf.LY Z FOSS/SILITIES 


BkWEEKLY LETTER OF RARE NEWS AND PROSPECTIVE PUBLISHED BY 


PLEASE RETURN SUBSCRIPTION FORM WITH PAYMENT 

1. AIR MAIL 

□ 1 yea; 4.800 FF 240.000 F CFA 600 $ 

□ 2 years 7200 FF 360.000 F CFA 900$ 

2. AIR MAIL + TELEX OPTION (transmission of headlines). 

To receive the text of one or more topics. caH back and remain in Sne. 

□ 1 year 9.600 FF 480.000 F CFA 1200$ 

□ 2 yeara 14.400 FF 720.000 F CFA 1.800 $ 

NAME: FIRST NAME: 


COMPANY: POSITION: . 

ADDRESS: CITY: 

POSTAL CODE: COUNTRY: . 


N I* TELEX: 

On case of tetax service] 

I enclose my payment of 

by □ Cheque □ Vsfi Card number 

□ Credit card □ Oners Cto 

□ Eurocheque □ American Express Date 

□ C.C.P. transfer Paris n® 1972 77 M Signature: 

□ Bank transfer to your ecoowit n° 216 1B48-6 

Bsnque Pariaerme de CrWh. 56. ivs de Chateeudun, 75009 Paris 

Please make out your cheque to: D1FCOM-3, rue Roqufaine 
75008 PARIS - Tel. 42.66.69.30 ■ Telex: DJFCOM 641 6S4 F 
Subscriptions start as soon k payment Is racavad. 



•• : -*U. 


ta tt* p \ 










' Page 10 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 11, 1985 


NYSE MOSt Actives 


Dow Jones Averages 


NYSE Index 


VOL 

HlStl LOW 

Lot 

cm. 

36257 

51ft 49ft 

49ft 

— 2 ft 

74*44 

32 29ft 

30ft 

— ft 


12 ft lift 

lift 


rSti 

15ft 14 

UV2 

— ft 

77UH 

40ft 39ft 

40ft 

+ ft 

2S139 

54ft 49ft 

S3 

+3ft 

f' r Ir ’■ 

634k 60ft 

61 

—2 

r'-vl 

2SVi 24ft 

24ft 

—1 

1 tv. |R 


64ft 



I4B 144ft 

146ft 

+2 



24 

— ft 


36 34 

34ft 

—lft 

143*3 

6 A 53ft 

50 

44 


29ft 20ft 

29 

- ft 

15714 

32ft 30ft 

31ft 

— 1 ft 


Open HUH Un> Last Cho. 


Indus 1498*5 1514,91 1403*4 1499 JQ + 2.18 

Trans 703.1 B 7WJ0 69675 7B3J7 + 175 

urn lanxa WM 164*0 156.19+ 0*1 

Camp 599*8 60552 593*6 59977 + 158 


Co mpajjlj* 

industrials 

Trcmsp. 

U tmthB 

Fit IUI ICS 


hu low ranm cd a* 

ii7jn 1T7J8 11772 +0.10 
135.04 1305 13175—0.12 
11321 112*4 1TZ77 +049 
6105 6071 6104 +036 

12744 12198 12756 +065 


NYSE Diaries 


Odd-Lot Trading in N.Y. 


aon pro*. 


Dow Jones Bond Averages 


Bands 

Utilities 

Industrials 


CMne CUMe 

8152 +0.15 

8051 +018 

8322 +011 


Advanced 
Declined 
Unchansod 
Total Issues 


New HKPk 
N ew Lows 


volume un 
Volume down 


993 W29 

771 659 

426 389 

2889 2077 

IVO 14 

44 24 

79,147260 
63571 <480 


Bey Saks 
291792 <31583 
170842 540936 
269589 654561 
WMH 550069 
161*09 307,971 



AMEX Diaries 



NASDAOlndex 


AMEX Most Actives 


HUB LOW M»t Cbfc, 


Advanced 

Declined 

Unch an ged 

Total leauet 
New Htotd 
Now Lorn 
volume w> 
volume down 


Si w, 

3aj in 

349 231 

150 M 

25 27 

25 25 

7,507.278 
+3*5,940 


Composite 

Industrials 

Finance 

insurance 

urmriBs 

Banks 

Tramp. 


week 
f 0>’9< Apa 

I +0.41 312.14 

+ 029 USAS 
- +1J» 4J2» 
i 1421 377.99 
_ 147 24.14 

i + us mio 
I + 4*6 279*3 


37161 4 a 

WJ* 33=- 


7«H 2ft 
48TO lift 


4Z?I J4H 

stB ir* 


2539 16’-* 

2464 4ft 


:u* 3+* 
Jtsr S'* 
1957 TjH 
1014 5 

i6ci at 
* 1561 I6U 

1375 


4.j *'+ : 

JO +3 
2’.* — *0. 
10ft * 

:m * iv, 

l?». — ft 

lift 

♦ v 

23’+ +1*- 
54. + ft 

12U -i-*’ 

Ik, — ■'* . 
74 - V 

to-4 

7*4 — +J 


Standard & Poor's Index 


AMEX Sales 


-Irctuded In lt» tales figures 


Tablet IndlHle Hie mrtlflawUfl nrlcas 
up is Hie dwt 119 on Wall Street and 
do not reflect late trades elsewhere. 

Via The Associated Press 


Industrials 

E8B& 

Finance 

Comp w TIe 


Htafa Lew dose OTee 
227J4 22606 226*6—0.14 
186*2 185J5 18530 +155 
9026 89*1 KUO +0*2 
2+90 34*8 24*1 +0.13 
.209,16 202*9 294JV +8.14 


4 PM. volume 
pr«v. 4 pjm. volume 
Prev. con*, volume 


1+790*00 

11260*00 

11260*00 






}<• 


Dow Index Retreats From 1,500 


United Press International 

NEW YORK — The slock market twice 
broke through the 1 ,500-level on the Dow Jones 
industrial average Tuesday, but Cell back just a 
fraction below it to close higher and set a new 
record in heavy trading. 

Each tone the Dow broke through 1,500, 
profit-taJdng blocked the popular barometer 
from dosing at the new altitude and the Dow 
finally backed off slightly to finish with a gain 
of 2.18 to 1,499.20. 

The New York Stock Exchange index dosed 
up 0.10 to 117.72; edging past its old record, set 
Wednesday, of 117.70. Standard & Poor’s 500- 
stock index rose 0.14 to 204.39, surpassingits 
previous record of 20425, set Monday. The 
price of an average share gained three cents. 

Advances outpaced declines 881-777. Vol- 
ume totaled 156.5 million shares, up from 
144.01 shares traded Monday. 

“The market is trying to move higher,” said 
Stephen Weisglass of Ladenburg, Thalmann & 
Co. He said that weakness in the cal stocks was a 
temporary hindrance to the market but that 
cheaper energy would benefit the market m 
general by widening corporate profit margin*. 

The Organization of Petroleum Exporting 
Countries oonduded its year-end summit by 
agreeing to abandon efforts to prop up ofl prices 
through production restraints. 

“We think the market is going to wind up 
strongly above 1,500 before the year is over,” 
Mr. Wrisglass said, fie said that the Dow could 
finish the year anywhere from 1,500 to 1,580. 

Stock prices are continuing their recent up- 
ward trend, said John Smith, marke t analyst at 
Fahnestock & Co. He cited new highs in Sears 


and General Electric, both blue-chip issues. The 
market has good leadership, a solid tone, and is 
“resistant to selling pressure,” he said. 

“Sellers find buyers just a shade under the 
market,” Smith said. 

Progress on the Gramm- Rndman amend- 
ment to balance the federal budget has encour- 
aged buying, market participants said. 

Harry VDIec of Sutro & Co. in San Francisco 
said that the Dow would climb to 1,650 by the 
second quarter of 1986. 

On the trading floor, petroleum issues domi- 
nated the active list, once again falling on fear 
of a global ml price war. Exxon, the most active 
NYSE-fisted issue, fell 2% to 49%. 

In heavy volume, Phillips Petroleum fell 1 to 
lift, Texas Oil & Gas lost to 14%, Atlantic 
Richfield dropped 2 to 61, U.S. Sted lost 1 to 
24*4, Chevron dropped 1% to 3414, Mobil lost J4 
to 29 and Occidental Petroleum declined 1ft to 
31ft. Amoco lost 3 to 60ft and Royal Dutch 
toppled 1ft to 58ft. 

Pennzoil climbed 2ft to 66ft. Texaco edged 
up ft to 30ft. When the market dosed, a hearing 
in Houston involving a S 10 .53-billion judgment 
for Pennzoil Co. against Texaco was in recess. 

Union Carbide lost 2 to 64ft after risin g 3ft 
Monday when GAF embarked on a hostile 
takeover bid for the company. Union Carbide 
advised its shareholders to hold their shares 
pending further developments. GAF rose 2 ft to 
60ft after gaining 10 points Monday. 

RCA (ex-dividend) jumped 3ft to 53 amid 
takeover speculation. 

Among technology stocks, market bellwether 
IBM finished at a new high, np 2 to 146ft. 
Digital Equipment advanced 2ft to 130ft. 



Ammo * U it 
Amrcpi 11 

AmStti 1*6 4.1 10 




+4 


35V, 35 
4f« 48 Vi 

23 22* 
Ifftt low 
42* 42U 
83% 83% 
11% 11 
14% 14 

24 239k 
28 m 

65 6416 

3* 3% 

3m 301* 


28^ 


»Vj 271* 
421V 42V* 
26 26 
3314 33ft 
24% 24 
34V* 34 

snt sm 

429i 42V* 
35 34ft 
19ft 19ft 
19ft 19ft 
17ft T7ft 
32 31ft 
TO *9ft 
71* 7ft 


1*0 

11 

2*4 

4* 

■99b 1* 

*70 

7 

228 

47 

1.12 

16 

JO 

6J1 

4*70124 

7*5012* 

2*8 


1*0 

u 


18 

2J50 

9* 

J.72 

9.1 

M6 

2 

56 

12 

1,00 

37 

VJM 

15 

*0 

11 

.12b 1J 

.78 

2* 

J7 

2* 

*30 

7 

iso 

11 

20 

7 

272 

7.9 


2* 

1*0 

2* 

1*0 

37 

130 

4* 

*4 

ID' 

132 

27 


& 


M II M4 
3*0 2* 3 

1*0 IS . 1 

9 ft 
2*0 4J2 27 1203 
Z75 03 226 

4.10 7* 167 

48 

12 305 
14M 108 26 


2*0 4* 17 
W 5J I 
226elQ.9 
*4 24 13 
1.16 4* 11 
1*0 3* ID 
213 

SI 3* 

14 

■48 V 5 
4J5 &2 
JBbU 
M 1.9 15 
.12 1* 39 
M 
.161 

1JQ 2* 16 
M 

JO 20 

*2 3* 10 
9*1t 87 
*8 

1*0 12 18 
*0 U 12 
2*0 8* 8 
yj,7 i&2 
Z10 6* 15 
.10 1* 13 
Ml 2* 9 
122 4.1 18 
60 12 H 
120 77 I 


2*0 9 * 

M 6.1 
-50 12 
M 29 11 
4*0 34 12 
4*0 9 * 

*48 * 22 349 
2*8 52 10 138 
25 1 * 11 SO: 
2*2 7.6 7 1779 
2*6 102 7 200 

1*4 02 11 374 
2*8 74 8 130 
4.18 115 
140 104 U 3 
1.90 92 6 


ft 


i7. 




Ttrti 


3 


mm 




a* 


*0 6* 9 

2*0 12 * 7 

70 2 * 9 
201 28 
*2 2.1 
Ipl 120 47 
I Bf 4*0 82 
nSo 40 4* 15 
rtC 
twf 




P 

3* 

5* 

56 

4* 

9 

13 

6 

y 

12 

4* 

7* 

14 

13 

ADO 17 

n 

11 

24t 3M‘ 

SI 

io*n 

1*0 

k 

14 

3 

1*6 

2* 

14 

425 

6* 


M 

9 * 

16 

.10 

1* 

32 

222 

8* 

10 

112 


9 

2.16 

10* 

7 

4*0 

117 


475 

12* 


9.10 

117 


7*4 

11* 


9*3 

11* 


72 

42 


SO 

15 11 

.10 


13 

236 

47 

13 

7 

6*70 87 


150e8* 


72 

96 

5 

-HI 

U 

22 

no 

4* 


1*0 

5* 

1J 

10 

2*0 

97 


2*4 ID* 

7 

7*0 11* 


7*6 110 


Jffl 

I 


1.36 

2* 

15 

Mi 

: 7 


1*0 

2* 21 

1*0 

4* 


*0 

3* 

14 

*11 

1.1 

12 

1*3 

32 


276 

1$ 

17 

120 

42 

19 

1*6 

4* 

47 

475 

8* 


*0 

2* 

to 

.12 

* 

IS 

1*0 

4.T 

IT 

250 

19 

9 

1W 

9* 

2 

US 

13* 


116 

O 

8 





i'r 






■fW 


ft 


*7r. 






6 

1*8 3* 12 
3-DOa 44 13 
Z3D 102 
2*0 107 
1*0 107 


20 17 18 
50 12 16 
1*4 15 9 
140 3* 16 


240 47 14 
14 


US U V 
L20 3* T2 
24 .9 15 

M 1.8 15 
2*8 54 7 
2*0 10* 

144 2.9 14 
120 I* 12 
3*0 27 18 
1*0 14 M 
*0 22 It 


43 29ft 
17ft 15ft 
32ft 23ft 
29ft 20 
20ft 12ft 
Uft 3ft 
5 1ft 
2ft ft 
22ft 0ft 
25ft 9ft 
33ft 12 


EGG *2 1. 
EQK n 126 7. 
esvst *0 1, 
E oo lap 1*4 1 
Em cd 221 

East Air 
EALwtO 
EALwtA 
EsAIrpf 3J3k 
|A ram 420k 
EAirplC 


U 20 433 
7* . 83 

1* M 7SS 
34 11 46 


39ft 39ft 
16ft 16ft 
Wk 28ft 
V 28ft 
Hft 15ft 
6ft 6ft 
3ft 2ft 
lft Ift 
i5ft iii£ 
17ft 17ft 
27ft 21ft 


Wft-ft 
lift— ft 
aft— ft 
29 . 

lift + ft 
6ft— ft 

310 +1M 


17V4 + ft 
21ft- ft 


1*01 

** U U 

1* A0 12 
147+97 .. 
l* 4 a*A 

*6 2.1 IS 
*6 2* 24 
40 2* 25 
1*0 I * 17 
*6 1*30 

340 13* 
2.13 67 
*0 24 16 
*8 13 16 

1*8 42 11 

128 34 20 


18 7 97 

11 453 

11 14 30 

3* 9 027 
13 13 1669 
1* 2143 


m. 


N . 


"V 





33* 12* SBwO l-SOHU 8 U n 

































































-a—- f 



S XM 
23* 
W> 4* 
211 J JW 

<31 w* 

232 24Vt 
*S IKt 
1919 41* 
9 H 
73Sx XV. 
TOM 35 
**m 44* 
1S2 20* 
44a 35* 


am am 

24* 24*- 
23* 23*- 
39* 39* 
41* 41* 
95 54 ■ 

30 30 - 

34* 34* 
43^ 44 • 

20 * 20 *- 
25* 25* ■ 


LONDON —Thom EMI PLC said Tuesday 
lhai ii entered an unconditional agreement to 
sell its screen entertainment division for £110 
million (S160 million) to a new company led by 
the division's senior management. 

The new company's shareholders include 
Bond Corp. Holdings Ltd. of Australia and 
investment clients of the U.S. brokers Bear, 
Steams & Co. Thom said that £10 million had 
already been received and the balance will be 
payable in cash on completion, no later than 
Feb. 28. 

The division's activities include film financ- 
ing. rilm and video distribution, the ABC chain 
of cinemas in Britain, the Elsiree film studio 
and an extensive film library. 


INTEMAnOm BUSINESS 




How CitiBanking Electronic L/C’s speed trade 
to deliver the goods to your bottom line. 


ATTENTION FINANCIAL ADVISORS: 

Introduce your cfients to the high earwigs avail- 
able from c o nh w iei leasing. 

The Inter-Continental Equipment Group manages container 
fleets for investment trusts, companies and private owners 
worldwide with a total value in excess of 20 million doflcrs. 

The marketing operation is being expanded worldwide, and 
a limited number of experienced finanod advisors are being 
sought to market their oorrtdner investment program. High 
c o mmissions pad, full back-up service provided. 

Forf i rih&dB*&cclthemMi&inQ d e & imBiinnrtBdancGcean01-Sil5244or*riela 

THE INTER-GONTTiNTAL EQUPMENT GROUP 

Krigtebridge House, 1*7 Knightabridge, London SW7 1RB, Urtted Kingdom 


FEASIBILITY CONSULTANTS 
FOR AUSTRALIA 

If you are thinking of investing or establishing a business in 
Australia, we w3l prepare a feasibility study dealing with the 
market, competition, industry si/rvey, risk assessments, lax, govern- 
ment/ state regulations, migration formalities and an y th i ng else you 
require to moke your project a success. 

For information wile 

A.D. WAHLHAUS AND ASSOCIATES PTY LIMITED 
Feasibility Consultants 

Level 1 8 Bondi Junction Plaza, 500 Oxford Street 
Bondi Junction NSW 2022 
Telephone: [02) 387.39.9 7. Telex: 176531 
facsimile: (02) 387.64.20 


The rules have changed. If you’re still 
handling Letters of Credit in traditional ways, 
you could be creating unnecessary headaches 
for yourself. And missing out on profit oppor- 
tunities for your company. 

With CitiBanking, you speed the turnover 
of goods by increasing your control and 
efficiency. You can open new L/C’s in minutes. 
Determine the status of outstanding L/C’s in 
seconds. And manage your FX and cash flow' 
exposures much more effectively. All with 


remarkable ease... and unmatched security. 

Tb find out how your Import Department 
can benefit from the world’s most advanced and 
secure electronically delivered banking services, 
call the Citibank located near you. 

And put the Citi of Tbmorrow^ to work for 
your company today. 

UELEGflE TO THE CITE 

CIT1CORPO CITIBAN< 


WE BELIEVE CONTAINERS 
BELONG IN YOUR 
INVESTMENT PORTFOLIO 


©!** CUmo*. HA. Inter FDIC. 


PRIMARY 
PERIOD 
5 YEARS 


INCREASE 

YOUR 

WORKING 

CAPITAL 

100 % 


* Containers are high earning, 
tolly insured, tangible assets 
with a 15 year worlcing life. 

* The Transco Group is the 
world's leader in producing the 
highest annual rental return 
with the lowest commercial risk. 

* 2000 serious investors have 
already purchased containers 
worth over US$35 million 
which are managed by the 
Transco Group. 

$: These serious irivestors 
enjoy a secure US DOLLAR 
income from participation in 
international trade. 

* DO NOT MISS THIS 
EXCEPTIONAL OPPORTUNITY 
TO ADD CONTAINERS TO 
YOUR INVESTMENT 
PORTFOLIO. 

* For toll details, without 
obligation, fill in our coupon 
today. 

TRANS. 
CONTAINER 
MARKETING AG 

Gellertstrasse 18, 

CH-4052 Basel, Switzerland. 
Tel: (067) 4223.77 
Telex: 64446 taco ch 

MINIMUM US$14000 INVESTMENT 


■t INVESTMENT • CONTAINER INVESTMENT • CONTAINER INVESTMEN T 

i| Container Investment |i 

8 AN OPPORTUNITY THAT OFFERS A HIGH INCOME PLAN 2 





Containefworid Sendees manage and operate a llm class 
worldwide container leasing service. They oiler you the opport- 
unity to earn a High fixed income with security plus many 
other advantages. 

• A GUARANTEE OF RETURN OF CAPITAL UNDB?-HNNK> BY 
SECURITIES HELD IN TRUST • HIGH FIXED INCOME UP TO 17% PS? 
ANNUM ON INVBTMENTS OF S5320 (six monthly terms 
avdable) • OWNERSHIP OF A RJL1Y INSURED HXED ASSET 

• ALL PAYMB'JTS GROSS - NO WITHHOLDING OF TAX • MINIMUM 
INVESTMENT 12730 

For more delate or this investment opportunSy, telephone our 
Zurich Ofttae: 01-693559. Telex. 52017 WKRCH. or send oil 
coupon to: 


Mr H Hercog Containerwofld Services 
(Deutschland) GmbK. S ee'eid masse 62. 
Postfach 460, CH-eOAd, 2unch, Swiirerland. 



m b 




































































Page 12 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 11,1985 


** 


Tuesdays 

AMEX 

Closing 


Tables Include the nottonwMe prices 
ap to Hie dosins on Wall Street 
end do not reflect We trades ehewfiere. 

lla The .-tssociaied Press 


n Month 
HlehLsn Stack 


si& aw 

Dtv. YkL PE TOQsHIOfUjawQuOtOrti# 


4b Mi ADI n 44 197 SU. 4ft Sb + fe 

18 54k AL Lap i .15 IjO 19 45 lift 14 Mb + to 

14ft 8 AMCs M «Xll« lift 11* + » 

Sb a VS AM In)' 10 1066 5to Sft Sto 

4 3b AO I n m M M H 

90 49 ATT Fd 533e AD 101 91ft 90to 91V*, +1* 

lib 9ft AcmU 32 M 30 14 11 10ft lffp— It 

15 


Uft 944 Action 
5ft 1ft Acton 
to to Actn wt 
444 1b Admfts 
XU 22V. AdRusI 
8 3b Aorgnc 
-57 30 AHIPbS 

0ft 5b AlrExp 
12 4 AlrCol 

1344 TV, ArColpt 130 TOJ 


7 

A 17 


A0 1.1 24 


JJ5 3 


3ft ft Alomco 
118 45W AlmHon 

9ft 544 AftOW 
10ft 5H Aloha 
Alpholn 
i A Hex n 
Alton wt 
34 IT Alcoa Pf 175 lli) 
34ft 17V? AlraCc 
4 2u Ameni 
ISft 10b Amdahl 
11b 5b AimdcO 
13b 4b Am ant 


lu-n m 

IV 


119 12ft 12 12ft— to 

1fi2 lft lto lft „ 
20 to b ft + ft 
85 2ft 2ft 2ft— ft 
44 24ft 2414 24ft -I- b 
79 3b 3ft 3ft— ft 
] S4ft 54ft 5444 

S K B £ + S 
S't 

23 117 11444 11444 + b 
14 444 4ft 444 + ft 

3 10b 10b 10b 

£ m 

4 — 
7W02 34b 33b 34 

49 435 34ft 34 34b 

a 3A 20 43 2ft 2ft 2ft— ft 

808 13b 13b 1» 

43 7ft 7ft 7ft— ft 

19 10b 10b 10b 


20 U 21 
AS 1.1 
.15 1A 5 


12 Worth 
hUilow Stack 


Sb. Chaa 

Ofcmpg HBWWi L owQuaf-CWga 


2b 

4b 

m 

8ft 

lift 

ion 


to vlAnofay 
» AreoPt 
5b aHw 
3b A mum 
4ft Armais _ 

7b ArrowA JO 2.1 


21ft 14ft ArvnOl 


IS 


W 4b Aunre 

9 , sste 

w Tsfissr*™ 

4ft 2ft AKosart 
5ft 2 Audlelr 
uft 11b Auslrntn 
19ft 13b Auorefl M 44 U 


159 

1ft 

1ft 

1ft 


IM 

Zft 

2ft 

Zft 


106 

6 

Sft 

6 


0 

4H 

4b 

4ft- 

b 

16 

4b 

4ft 

4ft — 

fe 

11 

Jft 

9U 

9ft — 

b 

a 

21b 

21ft 

21ft 


330 

9 

Bft 

Sft- 

Vi 


a -14 14 14 

351 lft 1 1ft— ft 
8 13b 13ft 13b— to 
748 h ft ft- h 
7 3b 3b 3ft 
77 2b 2ft 2ft 
45 13ft 13 13ft — ft 
53 17ft 14ft 17ft +lft 


B 


4ft 3ft BAT In .16a U 

37 13ft BDMs 27 

3ft lft BRT 7 

3ft 2b BSOn 

15ft 9b BSN 

13b BU Bottoer A0 All 12 

10ft aft BflWwS J2 u 

4V* 2 BalyMwt 

27b 22ft BanFd 278C107 
7b 47k Bansfrp 
9b 4b BnkBJd A0 47 9 
4b '3ft flcrco 
4 2V, BomEr 17 

Mi 4 BaryRG 

13b 10 Boruch J71 37 18 
12 4ft Boord 
14b 10b BeldBIk IJO 185 
4ft ft Beltran 2 


2464 a, 4ft 4ft + ¥* 

245 25ft 25ft 25b— ft 
53 7ft 2ft 2b + ft 

5 Oft 2ft 2b 

104 13 T2b 12ft + ft 
4 10ft 10ft 10b . 

« 9ft 9ft 9ft + ft 

21 2ft 2ft 2ft— Vfe 

81 27ft 27V, 27b 
17 7 ft 4ft— ft 

7 M It 8b— ft 

4 3b 3ft 3b 

B 2ft 2ft 2b 

48 5b Sft 5b 

X 10 9ft 9ft— ft 

57 9 9 9 —ft 

S3 10b 9ft 9ft— ft 

73 ft ft ft 


32b 21ft BergSr 52 1.1 14 4tt »b Bft »»+ g 


24ft 10ft BicCnt 12 

14ft 10 BtoV A0 25 14 
29V, 21ft BfefcMf IjOO 3A » 
2J)a 9ft BleRSs 
9ft BtoRAt 


IDS 22ft 21ft 22 
1 15ft 15ft 15ft — ft 
II 27b 27ft 279* 

21 51 24ft 24ft 24ft + ft 

20 212 24ft 23ft 24 +b 

a ib 14 £ S5£ a * u " g***^-* 

.51 15ft 15 15ft + ft 


19ft 11 BiounlA AS 25 14 

23 lift SokrPs 23 

14 9H BwVcl 50 

10b 9b BdvrIA, 44 43 H) 

5ft 2 Vi Bowmr 15 

20b 12ft Bowr* A4 22 17 

26ft 19ft Breen 9 1A0 

3®b 27 BmFA 1J0 15 10 

43ft 29 BmFB IJO 2A II 

«b 3b BmFA A0 9A 

5 2ft aucwm 
5ft 3ft Buckhpf SO 100 

34ft 24ft Buell AO 20 4 


115 16ft 15ft 15b— ft 
444 10ft 10b 10b— ft 
11 K lb 10b 10b 

44 Aft 4ft 4ft 

147 20ft 20to 20ft 4- ft 

48 25ft 25ft 25ft + ft 

3 39b 3914 3914— <4 

45 43 42b 43b— b 

11 4b 4ft 4ft— ft 

66 3ft 3ft 3ft 4- ft 

25 5 5 5 + Hi 

1 30 30 30 


12 Month 
High Law Stock 


_Ptv, Yld. Pe MfaWah LawauSoitoa 


32b 25b CosRJ 128 L3 
2b b GasFdrt 
4b 2 Caftlnd 
9b 4b Caotonl 
14ft lWCSrttS# 

9ft 5b Cetee 
4 lft ChmpH 
19b 12ft ChnvP 
29b 14b 


1J7MX1 
JO 29 17 

2 


40 2H4 2flt 26ft — ft 
H Tto lb 114— ft 
7 Zft 2ft 2ft 

s,s , 3 * ,s*-* 
" 7 ,-i 


2 18ft UV 


_ _ Uft lift— ft 

:m i]i *! + * 

2ft 18 Chilton .17 5 29 38 32b 32b 32b 

33ft 14ft Citadel 5 244 34ft ~ — 

35 21b QiFst IJBOb 3J 9 44 33b 

3B4 20ft CtyGO# IJO 18 10 

44b 36ft darml IJO* O 
Wfc 7b OorfcC J0e 29 11 
« 27b OcrtSt JSa 25 8 

22ft lift aottoVC .U Ul 

4H 3b CegnM- 75 

18b sb Cohti JS 20 10 
5b ib coiPwts 
6 


»*ft » 

Stt 33b 


24ft 9ft ComtoO 

11b 7b Com Inc .16 

12ft 6b cemoD 

Ub 4ft CmpCn 

10ft 5ft cmpFct 20 

2M 14b oitftal A0 21 14 


231 

9 

4 

98 


16 


10 


97fa 4b CancriF 
18ft 4b Ctotoh* 

25ft 14ft ConrCo 
9b 5b Comet 
5ft m Cong wt 
10 4b CenaOG 
ft ConOGwl 
14ft 8ft Cn5tora 
15b 7b vIContA 
26 10ft vienfApf 
24b 17ft Cent Ml I 
14b 1(M CoovUn 1A0 14A 
19b 17 Cooley n Jte 1A 

r- 30 

10ft fft CntrMn 
12ft 7b GrstFto -15a 1A 10 
as 2Sb Cro» 1A4 43 15 
48ft 29ft CmAM 1 JOd 2J 11 
19ft 9ft CmCP ■ 10 

15 7b CrCPB 7 _ 

25ft T7ft CwCPOl 1.92 7A 11 

lb M CrutcR 1 573 

4b ft CrystO 1375 

2S 13b Cubic 39 17 71 

31ft 23£ Curtice 92 3A 10 10 


33b -fib 
.... 33b -f b 
7 31b Hb Uft + ft 
9 44% 44b 44b + ft 
» ii 10ft 10b— b 

1* if* 10ft + ft 

S^4b2k=S 

’S 9b pS w + b 

14 lHk 18b 16b — ft 
5 7ft 7ft 7ft 
14 ltft 17ft 18 —ft 
94 14ft 16ft 14ft— ft 
384 8 7b 7ft 
219 At 3b 3b— ft 
190 «b 4V. 4b- b 

702 17 15ft 17 +lft 
133 13ft 13 13 

4Z7 Uft 14ft 16ft 
40 24ft 2t 26ft + b 
•S 12ft 12ft 12ft— ft 
" 17ft 17 




Low Slade 


Sb. Ck»e 

XKU. YkL Pg lOOaHloti Low Quilt. Chtoe 


6 2b Dlodas 

ft 

issr-ji 

2b ft Driller 
13b lft DrivH* 

Sib 23 Ducorn JO 
Zlb T2b Duplexs A4 


14ft 12 DurTgt 
14b 9ft Dm Id 
29V. Uft Dvnoer 


14 21 4ft 4 4ft + ft 

M 74 S kSf ktt 
215 ft ft +■ 

112 15b 15b lib 
* lb lft lft— It 

3 6b 8b Sft + ft 

27 29b 29ft 29ft + ft 

148 21ft 2Dft 2Tft + b 

. __ „ 20 14ft 14ft 14lt— ft 

JIU n 441 ISM Mb 15 
39 1! II 26 2Sb 24b 25 — b 


... 8 3 

J00 2J T4 


17 — ft 
24 2b 2b 2b + ft 
I ft ft ft— R 
117 10ft 10 U — ft 
19 11 KM 11 + ft 

45 33b 33ft 33b + b 
4 34ft 34ft 34ft- ft 
104 19 18b 19 — ft 

15 Uft 14ft— ft 
25ft 24ft 2» +1 

^ to b- ft 
22b 22ft- ft 


i CcnfEn 


91 


2^2^4+ft 



4ft AmCap 

iaa 13 

IS 

3 

59ft 

59* 

sn 












3 



at sj 

“““ 

540 

lft 

lto 

1ft- 

ft 






536 

47ft 

46 

47b 





c 




1 







9ft 

5ft 

Sft + M 





42 

51001 

5b 

4to 

5 — b 

* 



— 









2a 250 



Bb 

7ft 

7ft — 

Vi 















15 



21V 







7to 

7 

7 — 






■ 

49 

4ft 

4ft 

4ft— b 

12b 









Sft 





530 

4b 

3ft 

Sft — 

ft 

8ft 




4 

34 

8 

7ft 

7b 

Sft 















19b 

19ft 

19ft — 

M 



32 

3.9 

63 

70 

13ft 



9b 









26b 






74ft 

23b 

23ft — 

ft 



SI 

19 

63 

11 

Ub 

13ft 

















16b 

15b 

1<b + ft 






855 


4ft 

5b + to 

Bb 






TV* 


_*b .. 







8ft 

8ft 

Bft 






19 


4 

3b 

Jft — b 

14b 






TtW* 








7b 

2ft 





2 M 

X8 

17 

14 

52b 

52b 

52ft — to 

9b 

6b Cal prop 






. 


75ft 


S3 L3 

12 

1 

39ft 

39b 

39b + ft 






36 

ft 


4b 

18ft 






15 


14 “^1 . 

16ft 




9 


16to 

16ft 

16ft 











3 

1b Compel 


















16b 

lib A Ravin 

IJ8e1X5 


1957 

13b 

12ft 

12ft— lto 

17W 

13ft CMorcn 

a 

ijt 


59 

15ft 

Ub 

15b— b 

7 




20 


3ft 

3b 

3ft 








4ft 

4b 

4b— b 

23b 











Desonl 








4flto 

44 AxonPT 

309 10 


18 

46 

45b 

45b— 1ft 

54b 

27b CWIno 










42S 

1 

14ft 

14ft 

14ft 


7b 





21 

6b 



3 






lft 









lift 

Sto 

Ito 




36 

24 

TO 

130 

2b 


2b— ft 

15ft 

8ft CareB 






Uft 








7b 

7ft 







30 

86 

Bft 


7b— to 

15b 

Bft CareA 














6ft 

tft 

<to — 


5ft 

1ft AndJcb 




9S 

2ft 

2b 

2b— b 

Bb 

4b CareE B 














76ft 

26 

26 — 

ft 






4 

9b 



Sft 







6 








1ft 







106 

3$ 

8b 

Sb 

8b + ft 

48b 

38 CarePpl 5a 1QJ 



48b 








K 

h 

b— 

b 






6 

1 

1 

1 

5b 

2 Cosbkm 




21 



2H— b 








TOto 

20b— 


19b 

18ft AngIFn 




10 

19ft 



18b 








3tb 

18ft 

Dlllrd wt 



1 

35b 

35ft 

35ft — 

ft 


Vrc. 10 

SINGAPORE GOLD FUTURES 
UAA per ounce 

Prev. 

Mtoh Low seme Settle 

Dec M.T. M.T. 319.TO 115A0 

Feb 319J0 319 Jt 3QJ0 JI9J0 

AMr M.T. N.T. 32500 321J0 


Volume: 40 tot, of 100 az. 


KUALA LUMPUR RUBBER 
mo lor li nn cnti oar kilo 


Jen, 

Feb 

Mar 

Aar 


Bid 
. 177 JO 

. 178.00 

. 17900 
. 101 JO 
. 18X50 

Jun I84J0 

Volume: 0 tele. 


SINGAPORE RUBBER 
Stanapore eaals par Uo 
Close 


Aik 

17X50 


17500 


17600 
T77J0 
17800 

179 JO l: 

18450 181 JO 18X31 
18700 I MOO 18500 


17900 17400 

1BOOO 17700 
1 




Ask 

BM 

Art 

RSS 1 Jan 

152a 

153a 

151a 

151a 

RSS 1 Fet>_ 


15X75 

15X00 

15X50 

R5S 2 Jan— 

149.00 

15000 

147.75 

14X75 

RSS 3 Jan 

147a 

ma 

14X75 

14X75 

rss 4 Jan_ 

uxoo 

14X00 

141.75 

14X75 

RSS 5 Jen— 

i38a 

ixaa 

13X75 

13X75 

KUALA LUMPUR PALM OIL 



Malaysian rlnagits per 25 (Ml 





Pm 




Aik 

BM 

Art 


70S 

800 

770 

780 

Jai 

802 

80S 

788 

792 

Feb 

800 

Q06 

795 

BOO 



823 

800 

810 


795 

825 

790 

810 

MOV 

790 

820 

7B0 

810 



SHI 

770 

aoo 

Sep 


BOO 

760 

790 

Nov 

720 

800 

760 

790 


Volume: 11 totool25 Ions. 
Source: Rautan. 


^JLoi^onJVtoab^ ^ 

Ac 10 

Claw Prert uu* 

Bid AM BM Ask 

ALUMINUM 
I, Sterling aer metric ton 
Saol 49400 49600 49400 49400 

Forward 71900 72000 71900 72QOO 

COPPER CATHODES (High Cnxte) 

Storting par metric ton 
Soar 94400 944JB 93050 95100 

Forward 98X00 9SX59 949 JO 97000 

COPPER CATHODES (Standard) 

Starting per metric tan 
Soot 95100 95400 93X00 94800 

Forward 94800 TO» 95600 95BOO 

LEAD 

Sterling par mahic ton 
Spot 247J0 248J0 26508 24400 

Forward 27600 27650 27X00 27400 

NICKEL 

sterUno pgr metric ton 
Sant 278800 279800 273000 274000 

Forward 281500 284500 276300 277500 

SILVER 


Spot , 40000 40100 40X00 40X00 

Forward 41 IJO 41200 41400 41300 

tin (Standard) 

Sterling per metric Ion 

spot _ Simp. Simp. — — 

Forward Simp. Simp. — — 

StarBng per metric tan 

SPOI 43000 43X00 43100 43400 

Jounce: AP. 


i London 
I Commodities 


Dec. 10 
Previous 
BM Ask 


May 

Jlv 


DOC 


Close 

High Law BM A 

SUGAR 
Starting per metric ton 
MOT 14640 14020 140A8 14040 14X80 16400 
MOV 149 AO 165AG 16300 16420 147A0 167 AO 
Ang 174J0 171 JO 14&40 149 AO 17X40 17X00 
OCt 178A0 17500 17200 17300 17500 17400 
Volume: IA71 tats at 50 tons. 

COCOA 

Starting per metric tan 
Dec 1A94 1A00 1J90 1A94 IA80 IA01 

V42 1J27 \J36 1^37 U31 1J33 

1J54 1J44 1J 49 1JS0 1J4S 1J44 

1J69 1JS8 UM 1J63 1J57 1JSB 

1J8I 1J7D 1J» 1J71 >JM 1J70 

1.705 1J74 1J74 1J75 1J6B L774 

1.790 U9S 1J85 .1790 USD 1J86 

Volume: 3A29 tats of 10 tons. 

COFFEE 

Starling per metric Ian 
Jan 2030 1.970 2J22 2025 2005 2010 

Mar 2080 2018 2J75 2076 XOS X0S8 

Mar X125 2045 X120 1124 1100 XI 18 

Jlv X170 XTDO 1170 1171 X145 X15D 

Sep 2015 XI 50 2012 Z215 X19S X200 

Nov X23S X2D0 X745 X2S0 X230 X250 

Jai N.T. N.T. XMO X390 X240 2080 

Volume: 6441 tots ot 5 tons. 

GASOIL 

U J. donors per metric ton 

24125 24100 6xp. — 24300 24SJ0 
240JD 77650 224.75 22700 24225 24X50 
237 JS 224.75 27473 22301 23875 239 JO 

779 JO 21BJD 718J0 218J0 73025 23050 

Apt 72000 TOOTS 70875 2O9J0 22075 221 JO 
213J0 20273 2OU0 20X50 21475 Z15J0 

jun 21X50 20x00 mas 20x75 21x25 21450 
Jlv 21100 20000 201 JO 2D3J0 21X50 214J0 
Aog 21200 70050 20050 201 JO 211J0 21200 
Volume: OA94 lots of 100 tono. 

CRUDE OIL (BRENT) 

U.S. dollars per boral 

Jim 2450 24.90 2400 24J0 2050 2670 

Feb 2345 24J0 2350 24JQ 2370 25 A3 

Mar N.T. N.T. 2X00 ZXJO 2SJ0 2X35 

API N.T. N.T. 2X40 2X40 2478 2440 

Mar N.T. N.T. 2X40 2X40 2470 2370 

Jon N.T. N.T. 2270 2270 2350 2370 

Volume: 30 tots of IJOO borrols. 

Sources: Reuters and London Petroleum Ex- 
change (gasoil crude oU). 



SUGAR H ‘" L °" 

FrenOi tooact per matrlc toe 
Mar 1425 1J97 1A13 

MOV 1AS0 1A17 1435 

Aug N.T. N.T. 1473 

DO 1J2S 1523 1J10 

Dec 1JS0 1J50 1J30 

Mar 1J85 1JB9 1J94 


Dec. 10 
Art Ctrge 


1415 

1439 

1»480 

1514 

1J50 

1A05 


+ U 
+ 16 
+ 13 
+ 10 
+ 2S 
+ 23 


Est wl.: 1550 lots of SO tone. Prev. actual 
sales: 1556 lots. Open interest: 29789 
COCOA 

Freach fnmes per in kg 
Dec NT. N.T. 1J70 — — 10 

Mar 1525 1,914 1,923 1525 +2 

May N.T. NT. 1535 1,950 —2 

Jhr NT. NT. 1540 — —5 

Sep NT. NT. 1.950 — —5 

pec N.T. N.T. 1,950 — —5 

Mar NT. N.T. 1760 — Unch. 

est. vol.: 19 tots of 10 tons. Prev. octual 
sales: 81 lots. Open interest: 403 
COFFEE 

French francs per Mi kg 
jnn X145 X145 XI 70 2715 —23 

MOT 2775 2710 3742 2752 —20 

MOV N.T. NT. 1200 — —17 

JlY 1307 1307 1220 — —17 

Sep 1400 2767 2795 2420 Unch. 

Nov 2400 2480 2400 — Unch. 

Jan N.T. NX 2415 — Uitdi 

Est. voL: 105 tots of 5 tens. Prev. actual 
■ales: 112 tats. Open kite rest: 314 
Source: Bourse du Commerce. 




no — - — _ 

ns r b — — 

1» »«. » JB4 - 

IB Iflt ISH 15ft 15H 

2 W MB in EM 

1!S M 4ft Pk 6K 

»}»«*» 
2B 5716 lft 2ft lft 

710 1/14 H lft K 


.w. m, Mi 

ISSfi TT7 ‘ MI 

TMI Mt eeet U.06CI 




Dec 10 


Fife-Lad 

Dec 

Joi 

Frt Mw 

1/M 

1/U 

l/M - 

1/14 

I/M 

1/M - 

1/M 

I/M 

5/M ft 

I/M 

ft 

11/M 15/14 

1/16 

ft 

15/Ulto 

b 

lft 

Tft 3ft 

Jft 

4 

4ft Sft 

4ft 

7 

Tft Sft 

— 

lift 

tft - 


MN 19*48 Lee 79741 
Source: cbob. 


CM4NUB+Q27 


3-nwaHibn 
FmoottNir 
1 •year bin 






•J 

Dtacowit 

Dec 

10 

Prev. 

Offer 

BM 

Yield 

YfeM 

7.19 

7.17 

742 

74) 

7J4 

732 

741 

IM 

73* 

732 

747 

ISO 

BM 

Offer 

YfeM 

Prey. 

YleM 

Wl 31/32 

1021/32 

907 

*72 


Source: So 


MarrSI Lynch Tnmsury lades: 17X30 
Oiiw oe tar Wider: +ftg 
Average tmd: KM ft 


Source: Merr itt Lynch. 



Dei 10 


«Ww 


CMto Settle 


Till rtel 1 

Price 

Mor 

JOT 

Sep 

Mar 


Sep 

38 

238 

251 


oa 

062 


» 

134 

L*J 


064 

M3 


M 

0*4 

141 

HO 

1.12 

U7 

LB 

41 

FA- 

L58 

NA. 

177 

IN 

288 

42 

u 

032 

Ul 

IXA. 

NA. 


4) 

— 

049 



Ul 

— 


source: CME. 


Cash Prices 




Cammodttr and Unit 
Coffee 4 Santo*, lb— __ 
prtnfctotti 44/30 38 ft, vd — 

Stod billets (PIN.), tan 

iranXFdry.PMia. ton 

Steel scrap No 1 hvy Pitt. _ 

Lead Spot, lb 

Q»per elect, lb . 

Tfn (Straits), lb 

Zinc. E. St. I_ Basis, lb . 

Palladium, az 

Silver n.y.oz 

- source; AP. 



Dividends 


Dec 10 

Per Amt Pay Rec 


INCREASED 


Boston FvCntsSvga 
Consolidated Nil G 
Non 1 1 too on Carp 
MDCHoknn 

Morcantlle L. 
MWcon Carp 
Oklahoma G6 El 
Tribune Co 
WD-40CO 


.15 20 14 

44 2-15 1-13 
JS 44 2-15 
J9 1-3 12-18 
48 1271 1X20 
41 1-15 12-19 
J2 1-30 VI 0 
JS MO 12-25 
76 1-30 1-10 


AO 65 36 
72 XI V 
17 

J71 64 U 


9b 6ft EAC 
1 4b lift EE CO 
6ft 5 ERC 
Sb 2ft ESI _ 

23b 17b l^rCo IJO 57 10 

60 30ft Estop 456*21.1 7 

Uft 7b EchcB a .12 

2b fi ElAudO 

3ft 15ft ElcAm 140 SJ M 

6b 2b ElecSd 62 

M 2 E Ml nor . 

13ft 10ft Bmwidn 53a 7 

7ft 3b EmCor 6 

ft ft EgyDvwt 


Mb 13^ EDyl un 130I2&9 


40 25 
4M&J) 


10 


b ft Enstoat 
KM 4b EngOII 
lb ft EnrSrv 
17ft 10b ESOn 
3b 2ft Erttfrpf 
12b Bb Erolnd 
9b 4b Eskev 
8b 5b Esktypf MM MJ 
2S 13ft Eswv 48 27 8 
4b b Emm 
37ft 33ft, ErnfU 
34ft 9b EtzLov 
10ft 6ft EvrJ B 
10ft 6 EvfiA 
II 6ft Excel 


R n Ft 8b + ft 

9 13b ISft 15b— ft 
43 7b 7b 7b 
39 tb lft 6ft 
48 2b 2ft 2ft 
1 15b ub 18b 
I 33 33 . 33 

HtiktZft 12ft 12ft— 

43 b % b — 

45 atb 2Jb 3JW + ft 

I 4ft 4b 6ft + ft 

’£ ^iStu^+b 

II ^ 

1« 16 l^-.b 

U lb lft 6ft- b 
14 ft ft ft. 

26 14ft Uft 14ft 
42 3ft 3 3 — b 

I 15ft Ifift 10ft -Fft 
21 7ft 7 7 -ft 

5 7ft 7ft 7ft— ft 
38 1916 lift Uft— b 

44 lb lb lb + ft 
3 37ft 37ft 37ft 

3j n km 10b— ft 
5 10ft IfEA IQft 4. ft 

a isu n 2 10 m + >a 

ADD 37 14 40 Wb 18b Wb 


72e 1.9309 
.lie 1J 14 
.18 1J 26 


JO 27 I 


22b 16ft Fablnd 
19ft 6V. FclrFtn 14 

4b lb FoirmC 
19 15b Forty pf 471 2J 

TO 3ft FkkrtJ 
6ft Tft FCOPfkl 
12ft 9ft FtCorm IJOo 84 8 
ISW 11 FWvtnB JO 61 12 
14ft 9ft Fstcrps 9 

15ft lib FllCtlP Alt AS 21 
13 6ft FtteGE 
38ft 33b FltGEpf 6J0 134 
10ft 4ft vIFkmtg 
44 29b FlaRcfc 50 XI 8 

30b 21 Fluke 1JK 45 15 
Mb 8ft Foodmn 6 

10 7 FoaleM 

9b 5ft FthfllG 

32ft 12ft ForestL 33 

2 ft Fatom* 

43VS, 32ft Frantz UOa 2A 12 
7b 4ft FrdHIy 
26 15ft Free El 18 

10ft 7b Friedm 78b 37 14 

12b 5 FrtosEn II 

26 15 FrtKhs 72b 5 25 

16b 6b FurVU 70 14 28 


3 22ft 22ft 22ft 
a 19ft 19 19ft + ft 

1 Tft lft Vft 

2596 16ft U lift 

1M 5ft 4b 5ft + ft 
437 6 V. 5b 6 — ft 

s lib lib 11b 

218 ISft 12b 13ft + to 
187 14ft 14ft 14ft + Vi 
4* 14 13b 13b — to 

41 lift KM lift + ft 

1 29b 29b 25b 

22 3 4H 4b— ft 

41 42b 42ft 42ft— b 
74 23b 27b 28ft— b 
29 13b 13ft 13b + ft 

3 7k n ft 

118 5b 5ft 5ft 
187 29ft 29ft 29ft + ft 
127 lft lft 1ft— ft 
5 39ft 3Sb 38b— ft 

2 5b 5ft 5ft— ft 

22 25 Zlb 25 + ft 

3 Sb lb Sb + ft 
53 10ft lift KM— ft 
BS 24ft 23ft 24ft— ft 

393 ISM Mb 16ft— lft 


% 


ft GNCv 
4 SR! 

Aft lb GTI 
ISft 10ft GalaxC 
2b lft GalxyO 
30ft 23 Goran 
13b 7b GofUt 
13ft 10ft GelmS 
4ft lb Gamco 
18ft lift GDafns 
5 Tft GnEmp 
17b 13 GnMicr 
6ft 2b Gentaco 
15ft 9ft GeftvDr 
14 7ft GeaRas 
4ft lft GeoR wt 


5 ft ft ft 
U 4ft 4ft 4ft 

40 2 Tb 2 + ft 

10 4 lift lift Uft 

19 134 lb T lft 

170 4A 15 12* 26b 26ft 24ft— ft 
257 8ft 7ft 7ft— to 

41 S4 12b 12to 12ft— to 
36 lto lb lto 

J8 75 7 386 12 . ITto llto— ft 
JO 85 23 1 38 2b Zft 2ft 

.Mb 3 12 11 14ft' 14b 14ft + ft 

KO 87 9ft 5ft Sb— ft 

70 1J 12 17 lib 11b lift — ft 

4 36 lift 10b lift— ft 

49 3 2ft 3 + b 


12 Month 
High Low Start 


DW- YKL PE TflQSHlBti LgwQurt.Ql'po 


12b 8ft GaoRipf IJO « 
26b 13ft GtonFs JD 1.9 14 
20 8 GrtYlO _ ,, 

40 20ft Gtolfll ,J* 22 13 
37 23b Gkunr 1 JIB 3* w 

4b 2to GlaBNR 

6to 3 ookfw 
Tft *1 GW Fid a „ 
19b Ub GorRPS J « I 
29b 22to GOuWT X«rt is 9 
16 6b SfUhpm 72 ,47 

11 S GfOhMC IJaOAJ IS 
24*fc 16ft GmdAu A 22 U 

12 7b Grant 
2b b Grant Wt 

14ft 9bGrTech 
44ft 77 GrtLkC 
36 I2to Granms 
Uft Sft drainer 
)2to 9ft GftfOt 
15ft II GliCdB 
3dft 24ft Glfstr 

15ft a Gun 


26 IDto lOto 1»- !* 
189 26ft M’t 2oto— b 
194 ISft 14 ft 14ft + ft 
29 40 39ft 39b + ft 
S 28 28 28 + ft 

22! 3b 3ft 3ft- b 

247 to % b— fc 
3 19b l«k 19to + ft 
» 30 29ft 29ft- ft 
i 7to 7ft 7ft— ft 
430 5 4ft 4b — ft 
48 Wft 18b 18ft- ft 

i2 ȣ ^ 

J 5SI A. fits 

111 27ft Uft Uft— ft 
34 lift lib lift + ft 
19 17ft 12b 12to— V# 
_ 886 14b 14ft 14b 

AO 1.1 13 430 36ft 35?k Uft 
JKB J 19 106 Uft 16b 14ft + ft 


12 
10 

AS 17 18 
14 

.W U 11 
JOB 45 11 
72 


10b 7b HAL .Me 17 
Ub 19ft HMG AO U 
6b 4b Hollfe* JWO J 
3b IS Halm! 
lto 1 Ho (ml 

10b Sb Hametl .93! M 9 
29b 2H6 Hndymn 550 7 9 
28b UbHanfrds 70 17 16 
2b ft Harvey 
39b Zlb Hastrs .15 A 10 

43 26b Hasbrpf 250 SA 

41ft 28ft HetfdS 400 17 11 

«to lto Kiln 

17b 12b HlthCr* 781 25 8 

10ft Sb Htttidl 

16ft 6b HIHlEx 18 

lJb lift HeWlM A6 41 11 

9to 6b HeJnWr 75e 2.9 9 

TTVj 10ft Heirttk .10 3 9 

3b lft lie l der 47 

9 3 Hcflont 

1ft b HeJmR 
Sb 3b KerthO 59 

3b lb Hindu 

17 9ft Hlpfren 16 

4b lb Hetman 

lDto 8ft HallvCwl 

27V, 15ft HmeGn 
22b 20 Hmlnapf255 1X5 
25 14b Kormls J6 27 13 

12 6 HrnHor 

3b b HrnHwt 
19b 13b HotIPty 150 97 16 
6b 2b HottPWt 

5b 3ft HouOT J9e23J 

Uft 12b HovnE II 

13ft 0M Howl In 750 17 8 

25 T7ft HubeUs 36 X) 13 
26b 15ft HcjMIBs 74 10 K 
22ft 17b HudGn 40 15 17 
9ft 6ft Husky e 76 54 


11 8ft Bb 8b— ft 
4 10ft 10b 10b 

10 5ft 5ft Sb 

506 » 2ft 2b + to 

15 lto lb ito 

0 9b tb »to + to 

17 26to 26ft Mb - 

44 27b 26b Z6to— to 

35 lto 1ft Ito + b 

694 35ft 34ft 35 - ft 
24 39ft 39b 39b— to 

2 3lto jlto 31to 
99 9ft 9 9b 
99 Uft 13b 13b— b 
96 Bb lft 8b + ft 
47 9 8to 9 
27 15ft 15VU 15ft + M 

4 8to flb 8ft- V. 

M isto 15b isb— b 

10 2 lto lto 

is * ^ s 

192 41C, 4ft 4to— ft 

15 lto lto lto— H 
19 14b I4b 14ft — ft 

1 2ft Wi 2ft 
85 10 9to 10 

1601 24b 23to 24 — ft 
485 21to 20to 21to + b 
157 26ft 23b 25b +!to 
288 7ft 7V. Tft + b 
39 to ft to 

60 ISft ISM 18b + ft 

45 6b 6b 6b— M 
727* 4b 3b 3 to— ft 

37 16V 16ft 16b + ft 
42 13ft 13 13b + to 

14 24to Z€M 24b + b 
55 25b 24ft 25b + to 

3 21b 21b 21b— V, 
38 7 M 6b— to 


B 3b ICEEo 
55ft 3Hk I CHS 
7b 1 ICO 
4 V. 2Vt I PM 
9 3M IRTCps 
4M lb ImpGp .IX 
2b ft Implnd 
4DM 30V. irrmOfig 1A0 
1334 S Infletd 
23ft lift Irtsl 
2b lb Ins 


125 


4 4to 4b 4ft— to 
61 52to 51to 51M— ft 
81 IM lft Tto 
41 3b D 3b— M 
473 


182 
1200 38 


$ « m 


36b 36b — IM 


3 2b Ingypf 

13 Tft lirtCtvs 

isb 10ft Intrtk 
4M 
lft 
10M 
11M 
Tft 
4to 
9to 
10b 
into 


M tntBknt 
ft IntB* wt 
Sft IntHvd . 
9b IIP 
3ft IntPwr 
lft IntPrOt 

4 lntseow 

2 b inlThr n 
2ft InTWPf 
Sft Intwst 


70 IX 21 
9 

JStlOJ 

A0 

.12b J 


114 

614 

6 

<U 

25 

22 

20b 

20ft— 1b 

285 

Tto 

lb 

1b 

0D 

29b 

ZVl 

2to 

KMX 1214 

12 

12b + b 

23 

1«to 

14b 

14ft— to 

2a 

60 


3b 

b 

HI 

172 

7to 

7b 

7 to + ft 

15 

10b 

into 

,8U > 

6 

tto 

4to 

4to + b 

42 

2to 

2 ft 

2to— b 

8 

9 

8b 

9 + b 

752 

3ft 

3b 

3b 

96 

3b 

3 

3 

1 

6b 

6b 

6b— to 


tj Month 

High Low 5«m* 


23 ? I3to Ionics, 
41 25U IrM&Ttf 


SO, One 

n,. VM. PE IBBMWlHaeftWt Chin 


u 2!'i 31ft live— to 
40 36ft 33ft 34 *- H 



1 1 JOClvn 

r-. 

5%* Jacobs 

4V; 

2'v jefAm 

1 k 

■ JetAwl 




r 7 JShnFd 


S jcnnAm 


6 JcJmlnd 

4% 

2'r Juinnjk 


53P4J II 


.711 17 14 


lib ivs ijft .. 

5to sb Jb- i 

v* ♦ •* 

to to + to 

g r* * 1 

3to 3"! 

S'- Sto— •* 
3,-ta 
y* 3**- to 


I'l 

3b 

Sb 

Id 


4b 2ft ACPOhC 

16'- to KavCP 

1434) 10b hovjp 
IS'2 9b KeorKI 
ZTo 14 Ketch*" 
12b 7*i KevPh 
2'. LevCo 
b Lev Co w! 
2*., Kiddew* 
31s Klnark 
7b Lirsv 
4 KltMfg 
2 KieerV 


20 IJ 10 
30a 71 12 
40 J1 IT 
A$! 2S 19 
JOI 


Tto 

Tt 

ito 

4to 


XZr .9 


16b ID’- Kftdl 


STS 22b K090rC 272 M 93 


3 3b 3ft Tft- •» 

n 15ft is is’* 

32 tato left Uft * *. 

r 13 1?to U * ft 

14* 19 Irtk !*»- + ■« 

27 XW Mb 10ft >Cto * .* 

8 56 2ft2b22** 

b » ft 
m jft ^ft 
Jto IV IV- -• 

T t 2ft 2b- * 

Sb 5ft Sb + fc 

„ ?b 2ft re- * 

224 ‘ M'.a 14 14 -1 

a 74ft 26 76 — - 


74 

38 

II 

741 

3 

JJ. 


2b 1'. LSB 
3'g lto La Bor D 
22 12ft LndBrtc 
21 1, 13ft Lnamk 
14b 3ri Laser 
5b 4b LazLao 
27b 16ft LeorPP uo 
9ti 2ft LrePti 
34b 20b Lchign 5 40 
7to 4ft LciwtT 
S Levitt 
9'<S LWFPh 
lb LlfcRsf 
4 Lionel 
to Lkmf wtA 
b LtoniwtB 
7ft LI I IK) 

_ lb Lodge 

Uft 1 6 to Lor ICO 
44ft 27ft Lorimr 
1* lib Luma, 

I4li 9b LundvE 
13b 9b Luna 
14to 10 Lvdol 
261 1 Bto LvnCS s 
10ft 8b LvnchC 


3* J ’’i* S 

42 lft lft lb - 0 

-o 35 12 U 20'k 19^S TO'- ♦ ft 

CO 1.9 8 1 20ft Sob Ijjb - * 

16 106 «ft 9ft 9b— b 

4ft 4b IV- 


1:9 251 left loft loft „ 

i3 6if 87* 7b r* - b 

U II 3 34'- 34ft uft * • 


8to 

34b 

3 

b 

4ft 

2ft 


ID 

JO 1A II 


144 

JJt S3 4 1814 S 
722 

a 

4 3 
34 lb 

19 

72 ; . 

4 36 207 19 


44 6ft *lrj *1.— % 
21 6b 6b 6"» - ,* 
24 3Ti 32b 37'*— * 


lto lb 
4': 4 't — to 

‘1 b 

3 H 3 * _ "* 
1b lb 


JS 


17 
11 
9 

17 1? 
2.1 18 


20 

19b 

20 

■7 

*3"i 

42b 

43 — 

19 

IB 

18ft + 


IT* 

12b 

13 + 


life 

Ub 

Uft 


W.* 

14b 

«'•« — 

"4 

!!•: 

lift 

U’y + 

M 

9ft 

9ft 

Oft — 

•» 


M 


ISM 

7lb 

2ft 

13to 


15 17ft MCOHd 
2*n lb MCO Rs 
9b 7to M5A 
1ft to MSA wf 
12b Oft MSI Dt 
4b 2b MSR 

7b MocGro 
9b Mac Sen 
ft Mocrod 

4b Moo Bt 

21b 10b Mr PS ASI 1.9 
IPk Bb Maiartg A0e 
24b 10b Mangd 
6 2b MritiOf 
181, 5 MrklVs 
22to 21 M Marmot X35 10J 
36b 15b Mnftln 
83 13b MartPr 

23b 10b MasJnd 
7b 5 Mafec 
22b *b MoIRsh .12 10 
20 8ft Mat Set 
23b 15b Matrix 3 
16b BM MovEne 1JB 194 
26ft 15b Mavtlw 50 35 
6b 4M Me Dow XI 
7b 1b McRae A JOe SJ 
7M lto McRae B 
86ft 63b Media 1.76 1-4 


94e 9A 


.16 5 59 


20a 


55 I4’k 14b 14b— ’■ 
370 lb lb lb— '■ 

5 8to 8ft Bft— 

5 lto lto lto 

87 Sft 7ft Bft * to 

M) 2b 2ft 7to + '« 

S3 lib IDto H 
m 21b 30b 21'* 

58 >, to to 




11 

11 

11 




18ft 



7 

IFe 

10ft 

10ft— ft 



lift 

11 





4 to 

4ft — ft 

15 

S3 

1>'e 

17ft 

17ft— to 



22ft 

22ft + b 

76 

16 

21'4 

21 -i 

21-1 4- ■ * 

22 

19 

63ft 

67ft 


7 

44 

22b 

22ft 




5b 

,5b 

5b 

20 

769 

17b 

17 

12b 4. b 


1*9 


13b 

I3i7 — to 



21b 

20b 

21 — to 


175 

Bto 

7b 


10 

39 

2.1ft 

23 

23b- b 


1* 

4b 

4ft 


1? 

5 

3'* 

Sft 

3ft 

12 

1 

Sft 

Sft 


18 

36 

85 

8«to 

85 


(Continued on Page 14) 


t 


LLSL Futures 

Pea 7 Tie Associated Press 


Season Season 
High Law 


Dec 10 

Open High Low Ctase Cha. 


High 

18SL77 
189 JO 
19X72 
19650 

mniwi 

mm 

20X50 


Law 

13850 
131 JO 
VKBl 

13X75 

13800 

14X50 

18950 


Grains 


KIsk 


SPECIAL 
Hein W erner Cora 


. JS 1-15 1S-Z7 


WHEAT (CBT) 

SJOOtxj mMmuro- dollars per bMhel 
3A3b X79b Dec 342b 143b 140 

X74b XS7 Mor 341ft X43 X3» 

4J3 2A4 Mar 121 121M XII 

X72b X63 Jut XM X94b 2.90ft 293b —50M 

145 247 500 XMb 254b Z91b 253ft — JOft 

XOBM 253 Dec XM ' XMU XA2 3JDK —Jlto 

E*L Sales 9J00 Prev.Salej 8353 
Prev. Day Open I nt. 3X112 up 189 
CORN CCST) 

5J00 bu mtn I m um- dot tars pot bushel 

255 XI 4b Dec X44 ft 2A5 2A3b X44 

257 X24to Mar X45U 245to 244to 245 

X91M X31 Mar 147ft 248 247 247ft +JXM 

256 232 Jul 247 247b 246b 247b +J0b 

X70 X34M Sap Z34ft X3SM X34M 13SM +JMV. 

235b X20M Dec X2f 1 29* X27to Z28to — JOto 

234b X32M Mar 136b 236b 23S 235ft —Alb 

Eat. Solas 3U00 Prev. Soles T9J51 
Prev. Day Open I nil 37446 affUU 
SOYBEANS (CBT) 

1000 Du minimum- dollars par tahel 


Shopwell Inc 


STOCK 

Mercantile Bncshs _ 100% 12-31 12-20 


STOCK SPLIT 

Consolidated Natural Gas — Xfa»vl 
National Oty Carp — X4or-2 
Rohr Industries — 2-foe-l 
Siarra Spring water — Xford 


USUAL 

AXP 

American Can 
Arrow Electronics 
Bur rough* Cara 
Cal mor Inc 
Campbell RdLkMno 
C ommunity Shrs Ltd 
Concnemco Inc 
Crass (A.T.) Co 
Cutara Cora 
Day co Cora 
Emery Air Fretaht 
Ham! Han oa Cora 
Illinois Teal Works 
INTERCO lac 
iPTImbertandsUtf 
Jamcjwuy Core 
Lincoln Inco Uta ins 
Magnaltcs Intt me 
Mobile Gas Sorvtcs 
Nucor COra 
Roeer Caro 
Stewart lata Sve 
Tmaat Co 
waatar Inc 
TrV Co nflne n tc4 Cora 
Vlede France 



.10 

M 1-15 

a J2 to 

7-2S 1-10 

a 

05 

VIS 12-26 

a 

AS 

2-7 1-7 

Q 

sn 

1-2 12-20 

a 

.w 

M4 V27 

a 

.15 

1-10 1-3 

Q 

.10 

V7 12-17 

Q 

36 

2-13 1-30 


30 

1+ 12-20 

Q 

M 

2-25 H 

a 

.12 to 

>14 1-31 

a 

JO to 

V2 13-16 

a 

.18 

>1 2+ 

Q 

37 

1-15 13-19 


AS 

2-15 1231 

Q 

a 

1-13 12-20 

a 

.17 1M7 13-1* 


07 12-30 U-20 

a 

35 

VI 73-23 

a 

.18 

3-11 12-31 

a 

J* 

24 3-18 

a 

.18 

V31 12-31 

a 

33 

1231 12-20 

Q J2VS 

1-15 1331 

— 

30 

1-2 12-20 

OT , 

,11 to 

V3 13-14 


ADVERTISEMENT 


INTERNATIONAL FUNDS (Quotations Supplied by Funds Listed) Dec. 10/ 1985 


- *<«* wri wiaequmattaM are upplled by lha Foods Qsttdwtn the axcBPfioa of some wales based aaU»u-i-~-. 

Tbt mraglaal symbols kutlcnfe freoaewer of ggefettans sora»Hed:(d)- dotty,- Iw) -weakly; (b).M-aenthty; (r)- rag Warty; fO-breautorty. 


AL MAL MANAGEMENT 
-(*») ALMal Trust, XA. 


BANK JUUUS BAER A Ca Ltd. 

■( d I Hnw l vu.l 

■Id Conbor - 

-I d ) EouttKW America 

-(d) Egulbaer Euraoe. 

-( d ) Equlbaer F»OCtflc_ 

-( d ) Grabar 

-( d I Stackbar . 


BNP INTERFUNDS 

-Iw) Interoond Ftmd 

4wl Intercurrency U51_ 


S 189.10 

SF 91750 
SF 130100 
S 122X000 
SF VOODOO 
SF 121650 
SF 107750 
SF 1684J0 


— S 12953 

.. — S 10J2 

•fwl Intercurrencv DM. DM 

-(w) Intercurrancy Sterling ___l c 1051 

-(wj Irtereautty Pacific Offer % 10J5 

■IwJ Intereoutfy n. Amer. Offer t iqao 

BANGUE INDOSUBZ 
-Id) Aston Growth Fund____ s 
■(w) Dlwrrbond SF 


-(w) FIF-Amerlco. 
Hwi FIF-Euraoe. 


-(flj FIF-Internatlonal 

-Iwl FIF-Padflc 

-Id) IndawsiMulllbandsA. 


1133 
8245 
S 1753 
* 16J3 

S 11.16 
S 1954 
i 11061 
0 18X13 
$1043.14 


- d ) Indosuez MuHIbondi B 

- d ) Indosuez USD IMM.FI _ „ 

RITANNI A4>OB 771, SL Heller, Jersey 

-fw) Brlt.DoUor income 4 a 

- w) Brits MonaoXurT _ I )059 

- d 1 BrlL IntUMarununrH S J.T79 

- d ) Orlt. lnlli /vwnoa-Portt t 1J9J 

- w) Brit. Am. Inc X Fd Ltd S 1.153 

- w) Brtt.GoM Fund— S 0301* 

- w) Brit Jtanao. Currency I 1A72* 

- d I Bril. Japan Dir Pert. Fd s 1.153 

-fwl BrlfJeraeV Gilt Fund c 0J1B 

- d I Brit. World Lels. Fund S IJ45 

d I BrlL World Tarim. Fund s 0530 


CAPITAL INTERNATIONAL 

-Iwl Capital inn Fund 

-(w) Capital Italia SA 


45JS 

19*5 


CITICORP INVESTMENT BANK CLuxJ 
POB 1373 Luxembourg Tef. 4775571 

( d ] Cltlrtvest Ecu — ECU 101568 

Id) CIHnvosl Liquidity $ 101520 

CREDIT SUISSE (ISSUE PRICES) 

-I d I Actions Sulssas SF 48735 

-fd) Bond Valor Swf. SF 10440 

I d I Band Vaior D-mark DM 106J3 

d 1 Bond Voter US-DCJLLAR I 11X28 

d) Bond va tor t Start tag MOOJt 

dl Band Valor Yen ^ Yen 10351 JO 

d ! Convert volor Swf SF 12X70 

d Convert Valor US-OOLLAR- S 127.12 

3 Cana*ec_ SF 69XJ0 

d C5 Fands-sends SF 7X75 

d aFonds-Inn— SF 11955 

d g Money Morsel Fund S110LOO 

d g Money Market Fund_ DM1064JO 

a C3 Money Martcel Fund t KMa.00 

0 CS Monov Market Fd Yen. YIOCXejo 

d Energle-Vatar SF 14X75 

d UfflO— SF 841J0 

d Eurapo-Valor.. — SF 18950 

d PacKfc -Valor SF 159 J5 


DREXEL BURNHAM LAMBERT INC 
winchester House. 77 London Wall 
LONDON EC3 (01 9389797) 

■Iwl Finsbury Group Lto. S 12948 

-[ml Winchester Diversified— J 2150* 
■(ml Wlnowstar Financial LM. f 946 

-lm) WhtdMter Cr— IW s I0QJ8 

-(w) Winchester Holdings FF 10745 

■ — $ 1X94 

Hw) Worldwide securities i 51 JO 

-(w) Worldwide Saotfol $186045 

DIT INVESTMENT FFM 

-H a 1 CiwwnfT. DM 3443 

-+(«] I nil Ran ten fond DM 9253 

Dm A Hargltt6 Lloyd George. BniMi 

-(m)DftH Commodify Pool S 36X23 — 

-1ml Currency & Gold Pool .... $ 1600 **■ 

-(ml WftKI*. Lite FUf, Pool $ 56X32 — 

-(ml Trans world Fut. Peal s 879.98 ■■■ 

EBC TRUST CO.fJERSCY) LTD. 

1-3 Seale Sf-SL HaHer;BS3+36331 
TRADED CURRENCY FUND. 

S I d line: B«__S 1QJO-O«*r S1IJ4I* 

(dlCan.: Bid — 5 1234 Offer— JTIX617 
INTERNATIONAL INCOME FUND 

■{dl Short Term ‘A 1 (Acoim) % 1 J085 

■( d t Short Term ‘A 1 (Diet rl S 1J07S 

H d k Short Term *8' (Accum) $ Ijqio 

-{d> Short Term 'BMDfalr)__ 5 05693 


Long Term. 


PoghhrHBtl ^EC4.m-62346S0 


MGMT.LTD. INV. ADVISERS 


(W) F8«C Allantic 

- w Fbc European, 
■iw) F*C Oriental. 


7165 

16.111 

3X17 


S 7655 
S 7655 
S II ' 


«SSi.SS5s_ . 
^S!Bag±x 5 ,513 
B» SB.WCS= 5 SS 

FMegty Orient Fund $ 3110 

E»»%5!Ez=l%iM£ 

Dollar iw. S 

Forbn sHIgh IncGIlt Fd t 96JI 

Gold ln™» S 75a 

GpM I Aopreclottan — X 443 

Sntateglc Trading t ijg 


Hwi 

"efinorfundSB^ 

MEast Investment Fw 
Scotl Wi World Fund 
Stole SI. American^ 


S 44X92 

< lass 

. . . C 17648 

London :01 +91423 0. Geneva :41 -22355530 
GLOBAL ASSET MANAGEMENT CORP. 
PB 119, St Peter Port. Guernsey, 0(81-28715 
■“ FuturGAM SA . ■ — S I3BL 

GAM Arbttroee Inc — ... ... s 14X85 

GAMartca Inc S 15654 

GAM Austra lia Inc S 99.18 

GAM Boston 1 nc s n?J6 

GAM Ermrfooe s 17J1 


gam Fronc-vcl^. 

GAM Hang Kong Inc. 


w) GAM intentolkm o l Inc. 
w) GAM Janon Inc. 


SF 12X07 
S 99.72 
J 14X58 

$ T2X63 

w) GAM Nortn America Inc X 11841 

w) GAM N. America Unit Trust— 11X73 p 

wi GAM PortHC Inc S 138J2 

w) GAM Ponv & Char. Worfdw_ T09JOP 
,w) GAM Pens. 8. Char. UX. Fd.- l07J0p 

(w) GAMrlnl X 11422 

wl GAM Slngaoare/Molay Inc— S 81.12 
w) GAM Sferl & Inti Unit Trust— 152.1V p 

-(wl GAMWoridwfd* iitd S T94J5 

,W) GAM Tyche SJL Cla» A X 139.21 

OSAM IntertBt HK.UJOnL_ S 99J7 
GSAM Interest Inc. U4 Spo_ X 97 JS 

GSAM Interest Inc. SF 9941 

GSAM Interest Inc— Yen 9544 

GSAM Interest Inc- DM 9948 

GSAM Interest Inc f 10000 

6.T. MANAGEMENT (UK) Ltd. 

(d) Berry Pot Fd. Ltd 


r) G.T. Applied 5ctancp. 


I1J6 

. 1443 

d J G.T. Aoean H.K. GwttvFd— S 1140 

d) G.T. Asia Fund S 425* 

dlG.T. Australia Fund S 2546* 

d) G.T. Europe Fund— X 1448 

wl G.T. Eure. Small Cos. Fund— S 15J7 

r)G.T. Doltar Fund S 1428 

d I C.T. Band Fund S 1227 

d) G.T. Global Tecfmlnv Fd 8 I3J0 

d)G.T. Honshu Pathfinder S 30.98 

d l^T. Investment Fund— s 2121 
wlGj.jaowi small Ca.Fund_ x 5043 

r ) G.T. Tochnotagy Fund S 26.16 

d I G.T. 5autti CJiNta Fund S U.18 

KILL SAMUEL INVEST. MGMT. I NT USA. 
jartey, PA 8ao 6XTM 0SM 76(09 
P-O. Box 2*22, t« 4131 224051 

d) crossbow (For Era) SF iijd 

d) CSF (BotancH). SF 26JB 

21 Ewwwon Equity Fund— DM11J9 

d ) IntnL Bona Fuad S 10JD 

dl nt. Oprenev U J— S 2655 

hflTfMITeennalaovl S 1149 

.d) OSeas Fd (N. AMERICA) S 30J7 

JARDINE FLEMING, POB 78 GPO Ha Kf 

r ) J.F Currency&Band — S 14.13 

r I J.p Hang Kang Trust — . $ 374) 

r) J.F Padfle Income Tryst— Y 2648 

r ) J.F Jaotgi Trust r <732 

r ) J.F Japan Technology — Y 2C318 

-(/ 1 JJ= Poctnc SacilAccl S 2648 

LLOYDS BANK INTI. POB Oft Genova 11 
^Hw) Uevao Inn Dollar— _ t HJ7JD 
-+(wi Ltavtu inn Europe SF 13030 


—HwlUoydslttn Growth- SF 178JO 

-+\w\ Lloyds inn Income- SF 321 Jo 

-Hw) Uoyds Inn N. America S Ilia 


-jw| nS*."« 
•WI.SBI C - Japan 
IOBLIPLEX LIMITED 
-(wl Muttle u r r ency 
+w) Dollar Modtum Tom. 
-iw) Dollar Lena Torm. 
Hw j gigw MYai. 

*€w 


Pound Starfl no. 


Dutch Florin. 
Swiss Prtmc_i 


-FL 


10743 

10X99 

1X62 

1141 

11J4 

1X41 

1056 

10J2 

1040 

KL16 


-i — 

OR AMPB NASSAU OBOUP^B 

| PARUBAS4UlOUPH^ 

flzm 

kw 

kwl 

a 



-(d) PAR US Troas- Bwid -CL B’. s 1104 
ROYAL B. CA NA DA4>OB 26LGUBRHSEY 



OBLJ-GULOENJ 
paroil-fundI^^H 

PARE U ROPE GROWTH! 
PARINTER Pimn 1 
E^BWJHR BOND FUND. 



1X07* 
1X20 
I .2756 


7 JO 


-«w RBCCmxSon Fund LM. X 
-+<*» RBCForEastAPortffcFd- 

— HW RBC Inn Ctarttal Fd 

-Hr RBC inn income Fd.- S' 1142* 

-«d RBC ManXurrencv Fd X 27J4 

-+4W .RBC North Amer. Fd.. x KU9 

SKANDIFOND I NTL FUND (46-8-236270) 

-(w Inc: Bid .5 6J5 Offer S 658 

-(wiAcc.: Bid S 6J8 Offer s 

SVENS KA INTERNATIONAL LTD. 

17 Downshlre SqAtandon-01 -3774040 

-( r) SHB Band Fund S 2SJ6 

-(W) SHB inti Growth Fund S ” 

VN1,SS BANK CORP. (ISSUE PRICES) 

•<g?y?g!P' Vahr — — — 5,5 *11^5 

-(d) Dollar Bond Selection S 140J0 

j fbrtnB adMrtrt^-. FL 1287* 
+ dl Intarvotor- SF isjo 

+ €ti Japan Pnrifmm SF 099a 

-(d) Sterling Bend Svtaction. £ 109.16 

i ^ Swta Foreign Bend Sel — SF 111J9 
-(dl Swtovotar New5eries__ SF 309 JS 
-(d) Mi ttroncj Bend SaltcL— SF 7830 

•(d) Universal Fund SF 12SJ4 

I d I.Yen Band Selection Y 1060400 


UNION BANK OF SWITZERLAND 


-4dl Amca UJ.SH.. 

-id) Bond-1 (tvest 

-(d) Fenso Swiss Sh., 
•Id) Jramn-inroSl. 


SF 3675 
SF 68JQ 
SF 178J0 
SF 947 JO 
SF 30X50 


-{dtSaffl South Afr.Sh. 

Other Funds 

(d) Sima Mock prke) — SF 229a 

UNION INVESTMENT Frankfurt 

-(dl unirenta DM 40.10 

|-(d) UrWfonds DM 39a 

-fd I Unlrak DM 8173 

HdlUNiriNS DM 107a 

,w) A^jbonds Investments Fund. S 2X20 

Acttvest Inti % 12 a 

Alltel LM x 4J5 

1 17157 
8 94460 

TrtrtKor InH Fd. (AEIF)^ X 11JI 

— '«-iss«eFr. - SF 139a 

Gt d Mo rtg age Fd- — X 9 J3 
I Pr— r v.Fd.lnW— 8 11J4 

.1 Fund X 1J2 

. ibnd Offshore Fd^__ (2)8148 

Cohimhiu Securiiles FL 10X71 

COMETE X 94437 

Convert. Fd. Inn AC«rt»_ % 11J7 

Convert. Fd. inns Carts— 3 3151 
milWiianiF.»4 Y 1X562 

D-G.C X 9852 


AduHo IntefnuWgnot Fund. 
Arab Finance i.F__ 
Arlane. 


DoHorGaer band Fd SlM9a 

D-mcrV8d*r Bend Fd DM 1922a 


(w 


d) Dreyfus America Fund—— S 1 

d ) Dreyfus Fund IntX — * 4 

Dreyfus interco ni hwni — X 3 

The Establishment Trust S 1J4 



Fnonkf-Trust Irrtarzirw DM. 41JS 

GaeroeV INV. BOND F. S11J3 

Govern m. Sec Fund* S 9153 

S 144J2 
S 10431 
S 135758 
SF 12ia 
S 7SJ4 
S 1042 

s 19 a 

I n tend nlng MiiLFd.CL*B’. S 
Infl Securttfex Fund s 14J7 



IBEX Hotdtaos 

ILAHGB^md 

ILA-IGsq 

intertundlHHi 
Intsrrrwriial Fund. 



H W f ort un e Inti Fund 
Jo pen Seiecttan — 

Japan PadRC — „ 

Jetfer Ptns. intL Ltd 

Klelnwort Benson InTI RL— X 

Kldnwort Bens. Joo. Fd X 

Korea Growth Trust kw 9J31J4 

x 1045 

Lei com Fund 


w) 



Iw) Nippon Fund 


MSP f.i.tMH 1 
Pacific Horizon ImLFd. 
PANCURRI Incjtetete 


Parian Sw..R Est Geneva— SF 1397a 
Permol Value N.V— _____ X 135X39 
. Plektaes — _ — S1137J4 

(w) FSCO Fund N.y. x 13 JJQ 

(w} PSCO [nrLN.V s 10546 

w) Putnam em.ln*a.ScTr___ f »j 7 


Putnam lnt*l Fond. 
Prl-Tech. 


Quantum Fund M.V.. 
Renta Fint__ 
Renttnvat. 


. S 75J3 
t NUH 
. *8841.45 
LF 232400 

LF WW'S 

Reserve insured DeoosJ b _ *113401 
RudoH YWlpit FdUd_ S1278J0 
Somural PartfalLi Jp 12X15 

5C1/TedLSA Luxembourg- * I1J7 

w! Techno Growth Fund SF 8XJ2 

d) Thornton Australia Fd Ltd— I 9ja 
4d)TherrtenHK ACht ncT j «« 

Id) Ihorrto p Jonen Fund LM t 13J7 

(d) Thornton Orient Jnc Fd Ltd- S 1080 

•wi Tokyo Poc. Held. (Sea) 3 lllS 

W) Tokyo Pac Hold. N.V. TTT S WJ9 

w Trtmsoactflc Fund- S 10XT3 

*f Trans Europe Fund... .. . , , fi 51.15 

d 1 Turquoise Fund_ | ngee 

' T w eedv^rownen.v rjwvxe x 


4J9 

*32 

Jan 


XlSto 

X12 

XlSto +JH 

742 

xasb 

Mor 

X25 

X29 

X21to 

538ft +ab 
537ft +3Sft 

7J9 

XB9 


$33 

538 

X3Bb 

X5B 


Jul 

539 

X44 

536 


674 • 

X98to 


537 

S40to 



6J8 

X96 

5w 

53S 

5L20to 

xwto 

Xlfto +J9to 

632 


Nov 

XII 

X16 

X10 

5.14 +JX 

X63 

509 

Jon 

S20 

X26 

X20 

536 +Wto 

637Vt 


.Mor 

532 

SJTVi 

532 

537b +J07 


EsL sales 33J00 Prev^aies 30JU 
Prev. Day Open Inf. 71,149 off 1344 
SOYBBAN MEAL (CBT) 

loo tans- do! tors per tan 


184a 

12X40 


fTT" 

n- 


16X00 

127a 

Jan 


f—tr 

14150 

20X90 

13000 


§ ‘ 

T 7^ 

14X10 

162a 

13X50 

- .1 

^ * 


]4<a 

i6?a 

13X00 

Jul 

| f‘ 

rr 

147a 

15270 

lasa 

Aug 



147a 



Sep 

K * V T* 

14X00 

14X00 

149a 

ma 

Oct 

14000 

Moa 

Moa 

iaa 

uxoo 

Dec 

14 LOO 

142JX) 

uia 

isaa 

uta 


C2J 

uia 

141a 

Est. Stiles 2QJBQ 

Prev.Safes 9+59 



—58 

—.40 

+J0 

+a 

+40 


Prev. Day Open inL 4X917 upll2 
SOYBBAN OIL (CBT) 

60000 On- dollars per 1 001 


29J5 -lftO Dec 28.10 2145 19M 2065 +66 

29J7 1L72 Jon 2020 2L75 2B11 2073 +67 

2840 1850 Mar 2070 2L2S 2043 2U1 +J0 

2745 19J5 May 2050 21 JO 2073 ZL50 +JO 

25J5 1946 Jld 21 JO 7170 21 JO 2U0 +75 

25.15 1948 Aua 21 JS 71 JO IL80 2170 +73 

24J5 19J5 Sep 21.15 2ia 2095 2143 +J1 

22JD 19 JO Oct 21.10 2ia 21.10 2140 +J0 

2150 19-50 Dec 2140 2140 2140 2140 +30 

7140 I960 Jan 2ia 7\2D 2U0 ZJ48 +30 

Est. Soles 16J0B Prev. Sate 1UBI 
Prev. Day Open Int. 4X654 upsfe 


Livestock 


CATTLE (CME) 

4djaB Bis.- curds oar Bl 

6935 55a Doc 6675 6673 65.13 6167 

6745 5U5 Feb 6X55 6335 62J7 6245 —1.12 

6737 5X30 Apr 6X15 62JB 6032 6130 — JZ 

6X25 56JS Jun 6130 62J0 6085 6170 —SJ 

6540 5X30 Aoo 4030 6030 5942 60.12 

6048 5730 Ocf 59 JO 5930 5X30 59a 

6X39 59.10 Dec 6045 6045 6X3* NUB 

Eat. safes 2J74 Prev.Safes 21 7® 

Prev. Day Open Int 65707 off 1571 
FEEDER CATTLE (CME) 

44J00 lbs.- cwds per to. 

7940 *030 Jon 6X80 6680 6X37 6605 

7170 6042 Mar 67 J5 67J2 6172 6630 

71J0 6640 APT 6682 6682 6X40 6612 

7OJ0 40.W May 6545 4X45 6435 6475 

6X30 65. K) AUB 6630 6638 6530 6620 

Est- Sate Prev. Sales 1J25 
Prev. Oay Open Int. 1&5M off 1 19 
HOGS (CME) 

30J00 IC6~ceilsper Ih. 

5085 ^*35 Dec 49a 50.18 4848 4975 

5047 38. in Feb 4«J» .4MB. 4687 4740 

4775 3612 APT 0.15 4125 4ZA2 4X65 

49a 39a Jim 4X30 4X25 4615 4657 

49 B5 4045 Jul 4X0S 45JS- 4655 4667 

51J0 4025 AM 4610 400 4340 43J0 

41.10 »B7 Oct 4070 4001 4X12 4QJ0 

49 JO 3877 Dec 4173 4ia 4140 4175 

4175 4840 Feb 41 JO 4730 4150 4738 

Est. Safes 10214 Prev.Safes 8.128 
Prev. Day Open mt 26997 up 2328 
FORK BELUES (CME) 

3L000 rtw.- cents per lb. 

7620 55-75 Fab 4620 47.W 6445 6647' 

7X48 5X65 Mew 6613 67a 6L50 6647 

7X60 57 J5 May 67a 67a 6S40 67J7 

76M 57a ’ Jul 67a 6745 6X55 67.17 

7X15 5X50 AUB 6440 6X18 ; 63J7 66» 

Est.Sotal 8390 Prev.Safes 4J08 
Prev. Day Ogm Inf. 9456 upjin 


3 

=* 


3 


— wBO 


+42 

+-H 

^3 


Food 


COFFEE CfNYCSCE) 

37,900 lbs.- cents per lb. _ 

18ia 129JS Dec 17X00 18610 17X80 18683 +651 


j Currency Options 


PHILADELPHIA EXCHANGE 
Orttoe* Strike 
U wdsn i fee Price • 

Dec tee Mar 


Dec 10 


. Tweedy Jrawne iLvjClassB^, 1 1MSJ0 

’S] 

flWMte== jotS 


w) Vanderbilt t 

Id) World Fund XA. 



BFovnd 

14132 

14X32 

14132 

14X32 

14X32 

74X32 

14332 

14X32 


110 

IX 

125 

IX 

135 

MO 

145 

T» 

18 


***** 

per edit. 

33L60 



2325 



1875 


1X50 

r 


1X10 

130 



X60 

XSO 

X30 

0.73 

1.10 

2*5 

0-05 

025 


r 

r 

X55 


0.10 

X15 

665 


r "UB 
r ' 130 
ia iso 
325 5J0 

r 9JH 


S6M» CanodJodi penaraceets per unffl. 
CDoHr 70 r c r 

71 jo 7i r r r 

™ 72 004 r (DW 

7143 73 r r r 

62JM west Gere 


oji 

0J1 


0JB 

052 

u* 


0 Marie 

31 

39,34 

34 

3936 

35 

39 36 

36 

3936 

37 

3936 

38 

39 M 

39 

3936 

40 

773* 

41 


X32 

■Onh 

wrgalf 

r 



S3 5 



i\ 


- r 

432 

r 

440 

■ r 


r 

X33 

r 


r 


AM 

23S 

r 

r 

- r 


AIB 

L40 

IJT ■ 

TJ9 


AH 

134 

041 

0J0 

140 

OJX 

035 

0J1 

r 

X2S 

an 

Od5 

073 

T.fe 

r 

M7 

U2 ■ 

r 


178 

cs-Uttwaf aputperwUL 
1X60 r c r 

r 

. r 


F Franc 11a 

T29J4 IX r r an* 

r r X5S r r 

. J?j** , * 30 r r 3a r r ‘ 

6ZM80 Jopoihr Yen-lOHbf e( a cent ear amt 
J XSL « «J8 s r r s 

jja a 7a r r r r 

4»a 43 r r r Ul r 

£* « 5J5 r r r , r 

"20 45 610 r r r . r 

49^ « X08 r 112 r . t 

"20 . £ X15 r 237 r r 

"2Q « 1.13 1J4 154 051 r 

49 Ul U0 Ul Ul U 

__ _ a> OJI 0.16 051 . r 059 

6UN Sw«ri Frano-crat* per unH. . - 

* S 852 r s 

4? 7,11 - . r. r s 


SFronc 
47.14 
47.16 
47.16 
4J.16 
47.16 
47.16 
47.16 
47.16 

Total call v*L 
TgM put veL 
r— Mat traded, a 


XI 2 
X10 
1.12 
030 


1X8B 

8,717 


. ... — No option offered 

Ifflf la eremhjm (purchase once). 
Source: AP. 


1 S3 0.16 64 

IN - U9 
CHI open ML 
Put open tot. 


0J7 

OJS 

ia 


063 

1a 

144 


187482 


Prev. Sale* 6569 

Prev. Day Open InL 13304 uphq 
SUOARWDRLD 11 (NYCSCE) 

1 12Jpo m- emit* per lb. 

9M 
7.15 
■ 690 

635 
7JC 
7a 
- ISB 

EstSates =r _. 

Prev. Day open inUOXOR ad iff 
COCOA (NYCSCE) 

10 metri c t urn - Spar Ion 


Open High Low Close Cha. 

Mar 1805$ 18157 17X50 188.97 +6a 
MOV 183a 19153 181 JO 19153 +6J0 
Jul 186a 19X40 1*4.20 T9X40 -HUM 
Sep 189a 19X69 187.50 19X60 +551 
Dec 19XS 202J3 191-50 202-54 +559 
Mar K6S0 20650 ma 20*50 +*a 
May 197a 20400 19150 20X50 46a 


xoo 

Jan 

520 

5 41 

5 30 

534 


X34 

Mor 

X29 

X47 

625 

636 


X5S 

MOV 

643 

Xfil 

635 

632 

—.11 

379 


X53 

635 

XS1 

651 

— ,11 

XM 

Sap 

X65 

645 

645 

645 

—.If 

*02 

Oct 

676 

7M 

475 

675 

— 11 

63S 

Jan 




*32 


X61 

Mar 

732 

735 

734 

73* 



Prev. Sate 8*04 





rm 

1*45 

Dec 

2175 

2T75 

2158 

■SI 

—18 

2392 

1955 

Mor 

2250 

2256 

2233 

—30 

2*22 

I960 

May 

2235 

2291 

2275 

2790 

—77 

2429 

1960 

Jul 

2308 

2330 

2296 

2299 

—31 

2430 

2023 

sto 

2227 

2340 

2314 

2325 

—35 

2425 

2055 

□ec 

2335 

ZDS 

2327 

2331 

—34 

2385 

2029 

Mar 




2342 

-34 

E*t. Sate 


Prev.Safes 1377 



Prev. Doy Open int. 17 MB off 150 
ORANGE JUICE (NYCE) 

1 sao bSd-cants pgr tau . 
iBoa 11 tjo Jon Ufa T20J5 lisa naa +ia 

177a 11250 Mor T20a 12X60 12000 12ia +L95 

162.50 11155 May 120X0 12X00 T20-10 121a +X50 

157a Ilia Jul 12ia 12240 12ia 12125 4255 

laoso ma Sep 11x00 111a nsa ma +ijs 

11425 111a Nov 116a 11600 1 16a T17JS +ia 

ma ma Jan 117a +lk 

16125 ilia Mar 117.75 -Ha 

Mov 11755 +1,40 

EN^rtos ZBDO Prev.Safes 2JQ1 
Prev. Day Open (rtf. 9541 upL8S7 


Metals 


COPPER (COMEX) 

2X000 Rm.- cento per IbL 

6X75 6X85 6288 6X65 

6135 6X4S 4260 6X65 

^ . 6170 

Mor 6UB 63a 62K 6X75 

6X78 6460 6125 6405 

63.90 6433 6160 6435 

64JQ. 6400 6190 6455 

6435 6498 6415 64B5 

(KOI 

Mir 6465 .6465 6465 6X20 

May 65a 6100 65a -65a 


*425 

5X50 

Dec 

8X28 

5X75 

Jon 

Fen 

■oa 

mat 

Mor 

7X00 

6CL0O 

May 

7X48 

40JS 

Jul 

7X90 

6X90 

Ste. 

7X30 

6J3S 

Dec 

7X20 

6X30 

Jan 

<7a 

*9 CT 

Mar 

67a 

62.90 

May 

tj. th 

4X25 

Jul 

6X60 

<ia 

1*P 


+.10 

+20 

+30 

+45 

+45 

+a 

+S5 

+JS 

+SS 

+a 

+a 


66. TO 

EsL Sotos _ Prev. Sales 11172 
Prev. Day Open InL 79AS9 off 675 
ALUMINUM (COMEX) 

4OJ0OIbs.-otoh»perlh. . _ 

7060 41 JO Dec 400$ 030 4X20 47a 

76a MM £n 4735 

Tia 4190 Mor OJS OJS ofS 4830 

4X75 4430 May O 49.15 48a 49a 

0+5 44a Jul 035 4150 49a 5OO0 

5X10 4430 SOP 50.7* 

■ 49.10 4X» Dec rijl 

Jon .... 5110 

-Mar 5230 

5333 ■ 4940 May 5X50 

5030 5X00 Jul 5420 

5X15 SL50 Sep sen 

EsL sales Prev. Safes 712 
Prev. Day Open lot. 1399 up 177 

^SSSUrrovjx- ' 

5813 $05 S 57X0 sns 

5840 5845 5783 5823 
589-8 5903 5803 5M.9 
Mor 59X0 596.5 S85J 5913 

6013 6643 59X5 5983 

60U) 6133 6013. 60X8 
61X0 62)3. 609.0 *153 
6293 6353 6213 4Z7J 
6315 6323 630.0 6313 
Mar 63X8. <493 <383 6403 

May 65X3 <503 6483’ 603 

6603 6673 6603 659X 

<715 6765 <7X5 6693 
lies •W. MI0 

Prev. Day Open Ini 88303 dp 2344 
PLATINUM (NVME) 
sgtroy az.-doftars per trwaz. 

raa 33X00 Dec 324J0 +2a 

37150 M750 Jon 22S« BU0 32150 12X70 +230 

3»a Fete 32»a 329a 32»a 327 JO 4080 
Apr 326a 32ia mm 329 JO +SJB 
22930 nsa +230 


12300 

5810 

Dec 

12150 

JHJ 

Jen 

*190 

4190 

Feb 

119X0 

5920 

Mar 

104X0 

6000 

May 

9450 

6080 

Jul 

9*00 

6193 

tei 

7993 

6300 

Doc 

7890 

6660 

Jan 

7700 

64X0 

Mar 

7S20 

6580 

MOV 

74X0 

66X0 

Jul 

72 92 

<493 

■ Sep 

Eat.SMas 


Frev.1 


+a 

+a 

+a 

+a 

+35 

+a 

+a 

+a 

+M 

+M 

+S0 

+M 

+S0 


—23 
—73 
—23 
—15 
-07 
—19 
— 13 
— 19 
—XI 


—S3 


36X50 27130 


Jul 331 a 33X00 

3f930 ma oct 333a 337a sna 33XS0 4za 
37IJD. 347a Jon 34LSD +2a 

EsL Safes Prev.Safes 1X14$ 

Prev. Day Open Int. IX5Z7' up 40 
palladium nrrME) 

MB trey or- duffers per a* 

J4ia 9ia Dec Ma tS30 9ia 9170 — 235 

127a 97 JO A tor 97a 97J5 9100 9180 — XM 

11400 91a Jun 91a 99M 9S* 9480 -100 

115a 97.70 Sep 9X00 98M 9X08 96JH —3a 

noa tozn ooc r i aa. w« «u» 97a -Sot 

Bri.Suiag Prev.Safes 1357 - - 

Prev. Day Open Int 6328 up244 
EOLD(OOMEX) ■ - 

rao fray ax^doffari pertrov as. 

mso 30L50 Dec. 31X88 31BJB 31X50 '317a '-Ma 

Jan . . ■ 319a +140 

38<a Fab . 3i9a mao 3raa*mjo +10 

31470 Apr 32X00 32530 man 32410 +13 

O&J0 320 so Jun ma 329a ma 32&J0 +la 

42X40 ma Aun ma ma 33x20 sxm +1.10 

mjo 33450 Ocf 33460 337a 3Ma SSo +L00 

39X00 33X78 DOC J40J0 342a 33X50 341J0 -KM 

3M» 31X30 F#b 347a SOM 34X00 345a +J0 

38X40 35X30 Apr 3«J0O 349a 349a 35X00 +40 

29450 360a Jun 3S4J0 354a 35400 35490 +JD 

2B$a MWB ADO 359 JB 259 JO 359 J0 36X00 

Oct 36X00 «4( W 36X08 wm 

S5v!SSS5?iS7Sm.^ 


Rnoncioi 


US T. BILLS RMM) • 

SI mII0on- pta of W« pet 

9X08 «5J7 Dec 9186 9192 9286 9187 

9X12 . 8X40 . MOT VXW 9X14 91D5 9X09 

9X93 87 A1 jun 9294 9X02 9X94 9X99 

92J5 OXH Sep 9173 92J6 9169 9ZJ4 

92 35 IMS DOC 9145 9245 9242 9144 


9107 

via 

91SK 


M9 

9X50 

90J3 


MOT 9115 
JIM. 91/ 
Sen 


91J 


LIS 


a 13 9116 

O 9IJ1 

91+6 


Est. Safes X9<7 Prev. Soles +913 
Prev. Day Ctoen Int 3X121 ofnjTS 
M YR. TREASURY (CBT) 

tlCOOOO erta- ptr 8. 32r>dtcf l » PC} . - 

SI - 7M3 Dec 91-15 91-73 91-8 .91-17 

90-18 . . 7W HOT 9WI- KkJl 90-1 < -WF25 

«KW 0 8. tf'Kf 

eSIotei 80-2 Pre^SntoZUM *■“ 

Prev:Oav Open InL <73*3 up 1414 
US TREASURY BONOS (CBT) •' 

(I PCt-SIflOaOtats L 32ndS Otl 00 pet) . 

& 17 5M Dec 83 83-16 SMS 83-11 

81-13 W-2 MOT 81-27 *2-10 87-21 S2-3 

809 : ■ $6-29 JUn 8034 8+7 80-17 80-31 . 

79+ 56-29 sen 79-23 B6- 89-19 7900 

7H2r' 5+K Dec 78-34 79+ 73-22 79-1 

77-18 -3MJ Mor 71 78-T2 7* 78-7 

?P» 0-72 Jun 77+B 7742 77+4 - 77-17 

787 • KM S8P 76-79 77+ 76-1? 76-29 

75-24 62-24 Dec 76-12 76-17 7+9 7+14 

7+24 <7 .(Iter 73-29 76-2 7VO- 75-29 

75-11 


+J3 

+J7 

+m 

+JB9 

+o> 

+.11 

+.11 


+17 

+17 

+17 

+W 

+13 


+27. 

+ 2 / 

+24 

+23 

+23 

+22 


+24 

+22 

+» 


7+26 66-3S Jurt 

Est.SatesMUJn Frav-Sm*s274093 
Prev. Day Open lrtJlX07j off M2 
MUNICIPAL BONDS (CBT) 

Sioux tadoKPis &32mto ofTOpst 
89-30 81-17 Dec 90-2 90-7 8MS 89-29 -H 

8+2 - 80-4 Mar 89-20 - 89-25 89-10 89-16 -+15 

87-26 79 Jun 88-15 88-10 88+ 88+ +15 

■6-21 79-10 Sep _ 87-n 87-12 87-2 874 . +18 

Est. Saha . Prev.Safes 1SH . 

Prev. DayOpen int; A1U up« 

CERT. DEPOSIT (IMM) 

a mnikw-pts of laouet ___ _ . 

92a 8534 Dec 9220 92J1 £36 nif- +JD2 

?i44 sx56 Mm- -nS nh ns* jm +jo 

9118 8X43 Jun 9124 +124 923**12* +.11 
91J9 87a Sep • *. 91J4 +.13 


Seoson Season 
High Lew 


Open High low dose 
71.66 

via 


Via 8X34 Dec 

9025 8820 Mar 

Ei I. safe* 167 Prev. Sales _ 250 

Prev. Day Open Int. 1^50 off 33 
EURODOLLARS (IMM) 

SI mlillon-ptsof lOOpct. 

9X17 1 84a _ 

9X14 8410 

?1J3 8X73 

91J1 87a 

91 a 8723 

■na 8744 

9049 BXS4 

9041 8929 

EsL Sales 4X990 Prev.Safes 27485 
Prrv. Day Open r nr. 1 60861 Off 440 1 
BRITISH POUND (IMM) 

Sper pound- 1 paint aauals 5X0001 

14975 IJTSK Dec 14370 14385 14290 14320 

1.4065 1.0480 Mar 14240 14255 14160 1.4280 

14755 Liras Jun 14175 14175 14040 140*0 

1.4300 14240 SCO 14095 14095 1J975 1 4000 

1.4550 1.1590 Dec 1-4050 1.40S0 1J92S 1-3930 

Est. Sales HJXB Prev.Sate* 17222 
Prev.Dav Open lid. 3X067 ua<87 
CANADIAN DOLLAR I 


Chg. 

+.13 

+.15 


;imm) 

1 pci. 

□ac 

«1.«0 

•1.93 

9108 

9138 

+.01 

Mar 

9202 

•XII 

9X01 

9207 

+.10 

Jun 

91M 

91.96 

•136 

91.92 

+.11 

Seo 

9135 

9147 

9135 

•IM 

+.13 

Dec 

9105 

•1J7 

91a 

•US 

+.13 

Mar 

9102 

9104 

9101 

9107 

+.13 

Jun 

•078 

9078 

9072 

•079 

+.13 

Sea 

9047 

9047 

9046 

9052 

+.13 


—26$ 
-245 
—285 
—250 
— 278 


S per (flr-1 paint equals saoool 
JSM -7006 Dec 7141 

7164 

.7139 

7163 

+16 

JS04 

4051 

Mar 

.7116 

.7144 

.7116 

.7142 

+19 

7360 

7070 

Jun 

.7104 

7127 

7104 

.7123 

+20 

.7303 

7090 

See 

7110 

7110 

7110 

7105 

+22 

7568 

7087 

Dec 




7087 

+21 


J931 J«38 
J965 J973 
39 96 4004 
4(D3 4038 


EsL Safes 5415 Prev.Safes 235* 

Prev. Day Open Int. 1X537 up 192 
FRENCH FRANC (IMM) 

Spar htmc-1 point equals SUXXni 
.13070 -09670 OK .12955 .12955 .12920 .12900 

.12985 .10985 Mar .12X8 .12840 .12840 .12800 

32930 .17130 Jun .12690 .12690 .12690 .12650 

Est. Sales 4 Prev.Safes 5 
Prev. Day Opan Int. 204 

GERMAN MARK (IMM) 

Saar mark- loafer equals 500001 
4009 J971 Dec 3933 3944 

4*46 ■ .3040 Mar J971 3977 

4080 3335 Jun 4000 .4006 

4122 3762 Sea 4033 4040 

4U6 3300 nee 

EsL Sales 19398 Prrv. Safes 21,254 
Prev. Day Open Int. 5X777 offX565 
JAPANESE TEN (IMM) 

Sper yen- 1 point eauab lOOODUi 
22i22 pk a4906a4920j»«906a«9i2 

004996 JXMDS Mar a4913 a<922 JXM912 JI04915 
a<S0 Jun aegl -004934 a4929JXH930 
2SSS -SSifS Slfe JW9»JB4960a4950a«S4 
004085 a4158 Dec JJ0495B 

est-*nfe» X384 Prev.Safes 10416 
Prev. Oay Open Int. 35331 up 671 
SWIM FRANC (IMM) 

Saairtninc- 1 point sauataioaoi 
-SI *125 -5ZE 4714 

4*G ^5 Mor 4765 4776 47» 4763 

’SS eS -SIS 4807 

4930 4790 Sep 4870 4870 4850 4850 

Est Sate 8403 Prev. Sales 1X250 
Prev. Day Open Int. 3X337 off 532 


—5$ 

— SD 
—100 




—18 

—19 

—22 

—20 


industrials 


LUMBER (CME) 

13X0M bd. £Sr 1,000 bdu R. 

18740 13X40 Jan 15X30 15X20 I5B60 Ilia — ia 

Mar 157.40 157a 1HJO 155a —138 

May 16X70 16X90 1»J0 759a —120 

Jul 16440 164a 16X50 16110 —30 

Sep 16640 16X40 16X00 165a —SO 

NOV 16X00 16539 16450 14iM — 14D 

Jon 169a —2a 

Prev. Soles 1478 


wsa 139.70 

17640 14530 

18X00 v»a 

17X00 152.90 

18130 15X» 

17ia 16X08 

Esl. Sate 

Prev. Day Open Int. X829 
COTTON 3 (NYCE) 

5X000 IbX- cents per to. 
7X73 5X77 Mar 

70M 5X90 Mov 

TOM 58JD Jut 

65a 5240 Oct 

5935 5X85 Dec 

6X75 51J5 Mor 


—31 


£■£ J8*S «■“ 5V-67 
6X70 60.70 6X00 60a 

5936 5936 SLM 5841 -J9 

5320 5X70 52.10 51J7 — la 

S-1S S IS 49 90 - 1 - 25 

5149 51 a 5ia 5X50 —11* 

_Mov 52JS 52J5 5235 5X80 —132 

Est Sate 5J100 Prev. Sate 1514 
Prev. Day Open Int. 22438 off 115 
HEATING OIL (NY ME) 

42a0Bat-centoperoal 

2m 7940 W.IO 74a 73.11 —449 

— ?9-5S F * b 7ZS1 7X50 7746 7746 —100 

Mor 7X10 7X20 7X07 7X07 — XOO 

«U|0 Apr 69a 69a 6X67 6X67 ^XGO 

SIS 66a 6X60 6Sa 65J0 -XDO 

753? BM Jun 64JK1 — xoo 

6740 Jul &5JD 6530 6530 6X65 — X00 

OX Aug 6X90 6X90 6X90 6X15 XOO 

Sep <sa 65a 6X9S S5l I ATO 

get 6X95 — 100 

6X95 -oa 

EsL Safes Prw. Safes 7J57 

Prev. Day Open Int. 31719 up 270 
CRUDE OIL (NYME) 
uw bbL- doltaraaer bbL 

” mXf SfB i°5 J 7 -® 27.12 2XQ5 2533 —73S 

2L25 Fab 3X25 2630 2533 SS —la 

51^ Sw -iso 

Apr 25a 2X90 2447 2X47 —ISO 

MOV 2435 2X60 7X14 2X14 -130 

Jun 2X10 2X40. 2341 nsi _)a 

Jul 24a 2X05 2aa 23a —ia 

Aug 2X50 2150 2X30 SB —a 

M DU M a5 — ia 

Sp 7332 — ia 

aa 2X6o zx24 2X24 — la 


7X00 


ss 

2945 

2X35 

S3 

2630 

2X30. 


70a 

72a 

73a 


2X13 

2X93 

2X65 

2178 

3X45 

2X90 

2X00 

2X82 

3X74 


tei 

Oct 

Nov 


3X50 Dec 2X55 2X55 2116 Sta _U 0 

gft-Srtta T»-a06 Prev. Srfes 15312 ,J0 

Prev.Dav Open Inf. 6&023 up 1J92 


Stocfc Indexes 


*f^SJ»gexccME) 
pomrsaQo corns 


1 I IHiiilll 
leMasaraff""- 1 ® 

po mis ana corns 

^ 85S S2S liJS M M 
5S SS J sS S 

Est. Sate Prev.Safes X2iv 21730 

Prev. Day Open Int. ldwSiJgl 

S3S^SS ,,oexiNYFe » 

POfiHlunycCTIIfl 

JLiJJtlSI 

Prev jgy Open Int. 11.123 w» iSt 

g5-SS £2 

Prev. Day open Int. 1,916 rtf* ^ 


+.W 

+30 

+JS 

+J5 


-JO 

— J5 


—.15 
-kl5 
— iM 
— »18 


+b 


Commodity Indorpc 


Woody^v 

Reuters. 


Qoso 

lJ7i70 

1KJ)5 

22 H 2 n 


OJ. Futures. 

Com. ResBordi Bureau. 

Moody's : base ion ■ rw- *> 
g- preliminary; f . n ' m '- 

uow J0nB * ■ DOW 100 : Dec. 31, 1 974, 


Previous 
, 927.60 f 
1<7«U0 
12441 
22U0 


CBT: 

CMS: 


MYOCfi: 

NYCE: 

COMEX: 

NYME: 

KCBT: 

NYFE: 


Mqrket Guide 


N« Vera *fi?Sflto eSteST • • 
v Board pt fSF” 
Exchanae 



r - 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 11, 1985 


! |i l k-EG’s Sweetened Bid 

1 ;• v.i ■■ 

Rejected by Plessey 


" .i ~ - Monday. Shares of General Eco- 

* '< — Piessqf Co. Tqect— trie, which is unrelated to the U.S. 

{ ^ t. uesday a takeover! btd from company of the same same, dosed 
;,Jal Ekstnc Co. cfBntam, a t 172 pence, unchanged. Dealers 
i !. f<™ny announced Mon- ^ many investors were waiting 
l.rin offer that appeared slightly for improved terms. ‘ ' ' - 

j'£ wtabta > than 1« ' weets in- which had turned down 

>X< al offer of £1 .18 billion (Sl.75 ^ we^s Q f/ erj <jjd i^cwise «,-& 

Tuesday’s bid. 

i* off* « unwelcome and 

. ; ^ced Monday value Plessey palpably inadequate in form and 

: ^ at less thanl63 pence ea^ substance," PlSey said. It said its 

. 7 , figure ls hig^r tian the !60 directors had voted unanimously 

- * b SL tI ? t ^ Said 11 against the GEC approach, and 

S : i 3 ®!?"® P 6 ^ 1)111 : 13 had urged Plessey shareholders to 

: •.; ; yPkssey , s dosing pnceofl76- jgnoreiT 

7. c N 5 nday 0Q **“ London On Monday, GEC darified its 
* bx change. bid intentions .with terms constst- 

.-.^scy shares do»d Tuesday at ' m o 320 petice cash plus one 

: . f : ;.’P eace » d 0 " 0 2 ^P race fr 0 ™ GEC ordinary shareand 160 pence 


Texaco 9 Pennzoti Lawyers Negotiate 
Over $10.5-BUtion Damage Award 

Compiled bit 0ir Staff From Dispatches 

HOUSTON — Lawyers for Texaco Inc. and PeanzoQ Co. said 
. Tuesday that they had been negotiating over a S 1 033-billion award to 
Pen mm by a jury last month. 

The lawyers spoke at a hearing before Texas District J udg e Solo- 
mon Casseb Jr., who is to decide whether to affirm, overturn or reduce 
the damages against Texaco for interfering with a Pennzoil merger 
with Getty Oil Co. 

In White Flams, New York, Texaco’s board adopted a takeover 
defense meant to make an acquisition of the company prohibitively 
expensive to an unwelcome bidder. 


Carbide May Not Be a Poor Target 


By Smart Diamond 

New York Times Service 


transaction than meets the eye. Al- 
though the company may now only 


'.VyacetoBuy 

^^lickrHeM Stake 

• l Reuters 

'■ •: j'JEW YORK — W.R. Grace 
, Co. said Tuesday that it had 
.eed to repurchase 13.62 mil - 
, i shares of its stock from 
. vutsche Bank AG for $595.9 
\lion. or $43.73 a share, 
shares, representing a 
7 ■'■percent stake in Grace, has 
• -!;';an owned by West Germa- 
-s Friedrich Flidc industrial 
/ /' Hip. Grace said the transac- 
'-. a is scheduled to dose on 
l 2, after Deutsche Bank 
■; npletes its previously an- 
- rmced $2rbilhon acquisition 
is. Flick. 

«^3race, a diversified cbemi- 
s concern, also said it would 
• . its retail group as the “first 
...p” of a general restructuring. 


directors voted unanimously 
against the GEC approach, and 
had urged Plessey shareholders to 
ignore it. 

On Monday, GEC darified its 
bid intentions .with terms consist- 
ing of 320 petice cash plus one 
GEC ordinary shareand 160 pence 
nominal of GEC- 7%-pearcent con- 
vertible loan, stock for every four 
Plessey ordinary shares. 

In its statement Tuesday, Plessey 

said GEC was bidding to gain ac- 


met with them fm 1 days and most of last night " 

■ In court, the Texaco lawyer argued that the filing of l iens by 
Pennzoil “would, we are advised, put Texaco into a credit po rti on 
where it would be required to seek Chapter 1 1 protection" under U.S. 


bankruptcy law. 


COMPANY NOTES 


(AP.UPI) 


NEW YORK - On its face. ^ romeihmg nrar the S68 a 
Union Carbide Core, appears to be share that GAF is offenng. the ana- 
a poor target for the takeovt* pro- l J«* w» d Monday, a new manage- 
posed Monday by GAFCorp. and ■“* «>uld prune more excess 
its chairman, Samuel J. Heyman, ^ orkcrs , x[] high-value assets, 
according to Wall Street analysis. d ^ e P en Umon Carbide’s program 
Union Carbide U facing billions of rcstiuctunng and take otherac- 
of dollars in claims as a result of the Was to bring us value tip to S90 a 
gas leak at BhopaL India, last year ^ or more — a multibdlion- 
5at killed about 2,000 people The d °Uar increase, 
company is also beset by a 45- . Carbide is fat. and a lot of peo- 

perttU drop in petrochemical P le ^ * ^as been mismanaged 
earnings this year Tosses in other for Charles J. Rose, an 

bu^»es and estimates that it will for Oppenheimer & Co., 

end 1985 with a loss equal 10 $3 JO electing comments by most other 

a share after write-offs and other an “>' su - . . 

But most also pointed out the 

But a sampling of analysts who including the Bhopal claims, 
follow Union Carbide indicates Sowas involved in the case said 
that there may be more to the representing the victims 

would file motions opposing any 


said „ A*" 
cess to Plessey’ s teefandogi^y ad- dated net tote m iPW ahouM be 
vanced businesses, althSI^Hes- J* thmhaff last yew's i 1-93- 
sey had already said it woulalike to hiliion-francs ($250-nnlhon) loss, 


g am z ati on. Hie new company wiS teme GmbH, a compmer-tedmol- 


attempi to sell Union Carbide as- 
sets that could be attached by the 
court to satisfy claims. That could 
hamper GAFs efforts to absorb 
the larger company, analysts said. 


man may amply become chairman 
of a larger company with many 
problems. 

Neither Union Carbide nor 
GAF officials would respond to 
questions on such matters, but peo- 
ple familiar with GAF operations 
said Mr. Heyman would preserve 
enough assets to satisfy the court 
and would still be able to sell some. 

They also said Mr. Heyman be- 
lieves that, whatever the outcome, 
he and GAF stockholders will prof- 
it handsomely from the takeover 
bid, since it has resulted in major- 
increases in the price of their stock 
holdings- Analysis said that GAF 
holds seven million shares of 
Union Carbide stock bought at an 
3veragcof 551 apiece and that Mr. 
Heyman owns about 25 percent of 
GAF. That would make Mr. Hey- 
man’s personal profit, on paper, 
more than $2 million so far. 

Union Carbide’s lack of reaction 
so far compounds the uncertainty. 
“Sam Heyman has sunk his teeth 
into a very big animal that is worth 


make and m arket pesticides invent- ogy concern in West Berlin, 
ed by CSlKO. Tnfthansa will hold 51 percent of 

Fat SpA is negotiating a pack- Lufthansa Informationstechnik 
age with the Soviet Union covering nod Software GmbH and its part- 
cars, diesel engines and tractors, ner the remaining 49 p ercent. 


combine with GECs telecommuni- according to Jacques Calvert, 
cations interests on the riAt terms, chairman of Qtrofin and its pri- 
GEC rejected last week he tele- ^tely o^ parent, Peugeot SA. 
communications proposal, under He said theauiomakerhas a sen- 
which Plessey wouldacquire breakm 8 «*» m 

GECs interest in tire production of , 

System X digital telephone ex- ** Sww drw 

changes. Plessey also makes System company, has ^ granted a b- 
X exchanges. oenseby Kyowa Hakko Kogyo Ca 


the Soviet ambassador, Nikolai 
Lunkov, said in Turin, Italy. 


KLM Royal Dutch Ahfincs said 
it is investigating the possibility of 


There are also questions of a lot," said Mr. Rose of Oppenhei- 
Wbeiher some of Union Carbide’s mar. “The question is: Is the aoi- 
assets, such as its polyethylene op- mal going to bite him back?" 
eratioo, are overvalued in the face Last summer Union Carbide an- 
of the industry's intense competi- nounced a major restructuring 
tioo. One of the most critical ana- aimed at improving its balance 
lysis, Anantha K. Raman of Par- sheet, streamlining its operations 


Fold Motor Co. and Mando Ma- a share issue, but added that it was 
danery Cop^ an anto parts maker, too early to give further details. The 
are scheduled to sign Thursday a statement followed Dutch press re- 
join [-venture contract to produce ports that the Dutch national air- 
radiators in South Korea. Prodnc- line plans to announce a one-for- 


sippany. New Jersey, said Mr. 
Heyman riKMtld have made his of- 
fer last summer, when Union Car- 


and lifting its stock price. Analysts 
said those moves would strengthen 
the company and make a takeover 


bide slock was selling at $50 a more expensive and difficult. 


Page 13 


Crude Pirices 
Decline $2 
In SeU-Off 

(Continued from Page 1) 
limit of S1.50 a barrel while gaso- 
line fell in the cu.sh market by 2.75 
cents a gallon. 

Analysts said Tuesday that 
OPECs threat to maintain or boost 
its output from level of around 17 
million to 18 million barrels per 
day was likely _tn cause further 
price declines.' regardless of 
OPECs claims that it was not 
spoiling for a prio.* war. 

Jeremy Eldcn. an analyst with 
the London stockbroker Phillips & 
Drew, sdd prices would be weak in 
the next month or so and could 
ultimately fall below S20 3 barrel if 

OPEC kept its output at IS million 
barrels a day, which ministers have 
implied they would do. 

Many delegates to the OPEC 
meeting bad expressed misgivings 
about how the market would react 
to the policy change. 

“It’s a risky game." a senior dele- 
gate said Monday night. “We 
might cause a price war. We might 
lose.'* 

in London, government officials 
said that Britain has "no intention" 
of bowing to pressure from OPEC 
to cut back its North Sea output of 
about 2.7 million barrels a day. 

Energy ministry officials said no 


T °f Japan to develop and market tion is scheduled to begin in early three rights issue in the near future. 

iTul iuc ^L““V l human gamma' interferon in Ea- 1987 at a plant to be built in Pyong- Rohr Industries Inc. of Chula 

mid be willing to continue dts- rope and tbeUmled Stales. Kyowa u*ek.. P 


devek>ped ^ mterfcron > Honda Motor Co. of Tokyo re- two-for-one stock split, payable 
Si ^Miich is being tested against tn- jected a UA government statement Dec. 27 to shareholders of record 
«sts despite the unwelcome bid that its AccoS and CSvic models in on Dec. 16. After the soliL the 


share. It closed Tuesday at $64375, 
down $2 from Monday’s close on 
the New York Stock Exchange. 
Now, Mr. Raman said, Mr. Hey- 


Carbide is turning itself change was planned in the policy of 
around, but it mav be too late." allowing North Sea producers to 
said Garo H. Armen, an analyst at *« >h«r own output levels. 

EF. Hutton & Co. 


( Reuters, lHTt 


launched by General Electric. 


DuPont (Australia) Ltd., a whol- 


that its Accord and Gvicmodds in on Dec. 16. After the split, the 
the 1979 to 1981 years could have number of shares outstanding will 


Plessey is GECs biggest British ly owned subsidiary of Du Pont defective front-seat bdts that may be increased to about 17.4 

s concern, also said it would rivaL General Electric ranks. eighth Co., said it wQI enter a pesticide not retract. A senior Honda official from about 8.7 million, 

its retail group as the “first in the world among tdecommimi- joint venture with the Australian said the automaker had begun talks 

p" of a general restructuring. cations manufacturers in terms of government’s Commonwealth Sd- with the UB. Transportation Do- r,.., ,, ,, Q*_* pL • „ 

a. sales . ple3sey ^ 1]tiu entific and Industrial Research Or- partment on the bdtsT MHUUmlO Start ftymg 

LirfOaBsa AG, Gamany's ft fiami-Madridm May 

■ -g m m m A • A • ft govemment-controlled airfine, said J 

'mining Costs at American Airlines 'gxsszSttlSZ 


- ' (Oanned from Page 9) 

- vie, most of the airlines that 
sprung up since the industry 
deregulated in 1978 have re- 
• ; ed too small to give American 
illy hard time. “American has 
y domestic routes witere they 

' . have much direct, low-cost 
Kuition," said Jessica GalHa, 
lirtine analyst with Eppler, 
2 - . ;in & Turner, a regional bro- 
‘ in Dallas. 

lerican has been quite suc- 
ul in filling most of the 
00 seats on the 1300 flights it 
v aloft every day. But Mr. 
' ;lall clearly worries that this 
" change. ^Our strategy takes 
w-cosu new entrants nke Peo- 
x press and Continental very 
risly," he said. “If we must 
: . ~ i e low prices to.compete with 
\ then W? simply must "have 
osts." 



The Associated Press 

MIAMI — Eastern Airlines has 


. . ■ between Miami and Madrid, and 

ipaneaeMadmieiy Orders J-j-J-jUiWl.*.— 
Reuters Eastern also said Monday that it 

TOKYO — Japan’s private-sec- had asked its 4,200 pilots to accept 


Robert L. Crandall 


. CrandaU warned company yw.to come. United wffl become >Jedjointly by MrGandaH and 
• - Pr-rs in fvtnher that-dMnite 3 international earner next his predecessor, Albert V. Casey, 
"• mart print, nrnnrmm V 6 * 1 wfaen * l U P “ estimated who retired as chairman and chief 

MOOmiUioD "in revalue fr^i the mcecutive in F^niaiy after running 
' , Southwest Bnmiff Peonle Pac * fic '* bou^it from Pan American for 11 years. 
^arnnrirJSLTofiSh? American World Airways— routes A key part ofthor plan was a 

that some analysts say American wage system m winch new employ- 
should have gone after. In addition ees receive lower wages than veter- 


Ifl /■ |ff|7|/)fi it has set up a software anti ml or- J 

*■ * *■ m/m/t M^u nation- technology joint venture MIAMI — Eastern Airlines has 

. . with Psi GeseQschaft Fuer Prazess- won permission from the U.S. De- 

ftns from Chicago and Danas- steuerungs-tmd Informationssys- partment of Transportation to fly 

Fort Worth, because, Mr. Kaldahl between Miami and Madrid, and 

said, the travd time and expense service is to start May 1. the carrier 

will be lower for many passengers Japanese Macnmery urders ^ mnn , tnrt ^ 

than existing routes to those cities. Reuters Eastern also said Monday that it 

Butthe idea of more planes fly- TOKYO — Japan’s private-sec- had asked its 4300 pOots to accept 

mg mto Europe wins little praise. tor machinery orders, exdud'ing salary reductions of between 20 
from analysts, who consider the ships, rose 255 percent in October percent and 40 percent. The ebair- 
maraet ovCTCTOwded. to a seasonally adjusted 681.92 bil- man, Frank Barman, said low-cost 

On the home front, American is fion ^ ($3.4 bfllion) from 541.70 competition had made it unlikely 
making a strong thrust to expand m billion in September, when they fell the airline would show a profit for 
the South and the East. It has 12.7 percent from the previous 1985, even though it posted eara- 
pushed its timetable for entering the £^0^ Planning ings of $73.8 million for the first 

Denver bade to the early 1990s, Agency said Tuesday. nine months. 

when a new airport is projected to ~ 

open. So now American is spending 
$1 15 nufli on apiece for new termi- 
nals in Nashville, Tennessee, and in 
B al«gh - Dnrh»m, North Carolina, 
that are scheduled to open in 1987. 

American was among the first of 
the major carriers to respond ag- 
gressively to the deregulation intro- 
duced in 1978. Its strategy was de- 



Worldwide Transport & Energy 

Nedlloyd Group, Houtlaan 21, 301 6 DA Rotterdam. The Netherlands 
Telephone number (01 0) 17791 1. Telex number 27087 ndgr nl 


ly this year American 7^7 y 
the LntimatcSuper Saver “ 


xs and ContmentaL To fight 
early this year American 
> out the Ultimate Super Saver 
■ . r ;• which make a limited rium- 
f seals available at discounts 
3g from 40 percent to 85 per- 
_ ^ “In 1981 the company origmat- 
- " - — : widely copied Frequent Fly- 
)gram, which rewards repeat 
. miners with free trips and hotel 
Merchandise discounts. 

; Iwrican also initiated the dras- 
•• 're-cutting during the recent 
tsgiving weekend that raised 
lger leads dose to a profit- 


United announced last week that it ans in the same jobs. United and 
would establish a hub at Dulles other companies, both in and out of 
International Airport outside the airline industry, have tried and 
Washington, D.C. failed to obtain similar arrange- 

For now. American is more than men Is. By the end of this year fully 
bolding its own. It earned $3143 one-fourth of American’s 41,000 
mini on after taxes in the fust nine workers will be working under new, 
months this year, compared with a lower pay scales adopted in No- 
fu 11 -year 1984 total of $233.9 mil- vember 1983. 
lion. Those contracts pared wages for 

American, which moved its new workers by as much as 50 pex- 
head quarters from Manhattan to a cent, while ottering job security 


75 parent, up tom -Si roUin * fidd *> ulh ^ ^allas-F^ 


ifit-sharing benefits to aH 
r leaders remain sharply di- 


r™™ nTSnW 1979, had more than triple the in- vided on the merits of those con- 
® ^ Hnctrv’c nvMasp ni>J nnlfil margin tracts. “It allowed American to 


-nerican said Tuesday that it 

'Pjjji? nue, compared with 2.13 cents for 1982," said John Kerrigan, a lead 
ihe industiy as a whole. negotiator for the Tran^Woik- 

StaL d Uni to<rs bold and risky ere Union, whose members include 
acquisition policy of the last few cargo agents, flight instructors and 
cao years turns out to be successful, it mechanics. 

‘ * could inflict deep wounds on But Part Gibbs, acting president 

’^iHnnSEi k .-Jifthmat « American. When the Department of the Association of Professional 
of Transportation last month ap- Flight Attendants, wants to scuttle 
fnr ^SJSI proved its $750-mfflion purchase of the two-tier system, and wffi ask 

ihe Pacific routes. UAL Inc. Unit- American for an early start to con- 
ior every passenger. parent, acquired a co mman d- tract talks next year. 

nr STw ing togh road to Asia in one stroke. Over all, labor costs consumed 
In ASgusu UAL had acquired 33 percent of American’s operating 
riSSIEf Hertz Cor P from RCA Inc. for revenue this year, down from 42 

reren !y. the autae 1 fared J5g7 _ 5 n ^ OB percent before deregulation — a 


dustry’s average net profit mar gin tracts. “It allowed American to 
lor the first half of 1985, earning compete and expand, which has 
7.94 cents on every dollar of rev©- added more than 2J>00 jobs since 
nue, compared with 2.13 cents for 1982," said John Kerrigan, a lead 
the industry as a whole negotiator for the Transport Wmk- 


.ut sacrificing profits has 
keeping a tight lid on costs. 

. recently, the faced $587.5 million. percent before deregulation — a 

•s that it was cu^8 UAL is betting that by packag- saving of about $50 million before 

• wrong places. In October, the . Unifed Hertz rental cars and taxes. Still comparable labor cost 
■ S wJKn UAL’s profitable Westin Hotels, it figures for Continental and Ameri- 

can lure business travelers through ca West are 19 percent, and just 17 


has handed out against any 
. S1.5 million, charging it 
t variety of maintenance 
ms. In response, Mr. Cran- 
2 laced several senior marnte- 
execu lives. 

was a terrible etnbarrass- 
he said. “Bui anybody who 
we're trading dollars off 
maintenance is nuts. You 
n't do that" 

ri can's cost per seat-mile of 
paciLy is down to 6 cents, 
■ the 'industry, and the air- 
verall averse cost per seat- 
'll be down this year to 7.4 
.■om 7.7 cents a year earlier. 

be average cost is still mud 
than the 6-ceni average 
.ay People Express and Con- 
or Braniffs 5 J-cent avm-- 
id Mr. Crandall says it will 
ore than 20 years before 
• an's labor costs will drop as 
hose of the new carriers, 
icon looks terrific, though, 
s costs, profits, and mantel 
e measured against the oth- 
r airlines. “American is the 
a what has increasingly be- 
1 marketing game," said 


all three units on the same trip. 

“United is spanning the globe 
with a travel-service concept," said 
Kevin C. Murphy, an airline ana- 
lyst with Morgan Stanley & Ca “It 
will dilute their ea rnin g s in the 
short-run, but on paper they seem 
lo have the better strategic plan.” 


percent for People Express. 

Mr. Crandall indicated he wfll 
try to pare some existing benefits, 
such as guaranteed annual pay in- 
creases, for employees hired before 
1983 when American goes to the 
bargaining table with its unions. 

Next year the airline plans to add 


Mr. Murphy added that “if the 27 MD-80 aircraft, made by Mc- 
United plan Fails, which could hap- Donnell Douglas Corp., increasing 


pen if there is a recession in 1987 or 
1988, America’s keep-it-simple for- 


the number of the fuel-efficient. 

142-seat planes is its fleet to 83. If 


mal will end up being the smarter it exercises all of its fixed-mice op- 
of the two " Bui if it succeeds, he tions with McDonnell Douglas, 
said, by 1990 United “could be the American will have 200 MD-80s by 
only game in town." the dose of 1991. 

Mr. Crandall American’s chair - The airline also is aggressively 
iwan 1 bitterly opposed United's ac- marketing its Sabre computer res- 
quisition of the Pan Am routes and ovations system, which accepts 
led a fruitless campaign to gel the reservations for many carriers ben 
Department of Transportation to sides American, as well as for ho- 
overtum the United bid. tels and rental car companies. 

He is trying to build traffic in the Fhgbts booked on the Sabre system 
few places abroad where American account for nearly half of dl the 
does fly: Western Europe, the Ca- revenues of domestic airlines, and 
ribbean and Mexico. The company Sabre receives $1.75 for every reser- 
has just announced plans for a new vation booked for another carrier, 
hub in Puerto Rico, and has ap- In the fust quarter, when AMR 

? lied to fly directly from Dallas- posted $933 million in profit be- 
ort Worth lo Tokyo, which would fore taxes, Sabre earned more mon- 
be its first destina tion beyond Ha- ey than the airline, the company 
waiL Japan has not yet granted the said. 

authority. Wall Street, which has been cool 

Wesley G. K aldahl, senior vice to the entire airline industry since 
president for airline planning, says deregulation, has started to look 
the carrier wants to add between more Favorably at airline stocks, 
two and four European routes a American’s stride was trading last 
year. It has already sch edul ed new week near $41 a share after begin- 
routes to Fr ankf urt, London and ning the year near $3d. 


icon looks terrific, though, ribbean and Mexico. The company 
s costs, profits, and market has just announced plans for a new 
e measured against the oth- hub in Puerto Rico, and has ap- 
r airlines. “American is the plied to fly directly from Dallas- 
d what has increasingly be- Fort Worth to Tokyo, which would 
1 marketing game," said be its first destination beyond Ha- 
y Pet tee. airline analyst waiL Japan has not yet granted the 
F. Rothschild, Umerbetg, authority. 

. “It is a very dynamic Wesley G. Kaldahl senior vice 
. ^rowing at a double-digit president for airiine planning, says 
'*■ ey’ve become the IBM of the carrier wants to add between 
!» ne industry." two and four European routes a 

d, the largest U.S. airline, year. It has already scheduled new 





IF YOU KNEW HOW MUCH CONFIDENCE REPUBLIC’S CLIENTS HAVE IN THEIR BANK, YOU’D BE PHONING THEM TOO. 


Republic National Bank of New Yoric. Traditional banking in an age of change. 

NEW YGPX [ l-2i2>9!W-fOOO LONDON (-M I H09-2426 PARISlSJ^ ^4>2bO-J8M LU^MBOURG 711 fULANj J9 2>«r»Hi A SAf PA BAN* 


■; d, the largest U.S. airline, year. It has already scheduled new 
' jse a threat to American in routes to Frankfurt, London and 











244 114 
3*4 214 
14 va 
134 i 
184 lilt 
64 34 

24 14 
28 im 
64 34 
1*4 54 


issr 

SunJr 48 2.1 13 
SWftl ASb U 14 
SupCre 

Sortnds 21 13 t 
SuprSr M 10 11 
SusowSh 9 

SwBEng 9 

SwlfUn 1J0 45 
Syria lay 

SrttEns .10 U 11 


11 7 1 

j » n. 

3M 124 114 
10 234 224 

33 374 374 

34 14 1 

78 W 114 
36 174 174 

12 44 44 

5 14 14 

83 244 264 
44 34 34 

46 06 44 


7—4 
34— 4 
12 

234 f 4 
374— 4 
1 

12 + U 

174 + 4 
44 
14 

244- 4 
34 

64 + 4 


W» 94 VST 
204 13 VOllvRs 
30 174 Vulsor s 

10 24 Vert* 

214 154 VtAmC 
64 34 vrfish 
4 4 Vwna 

134 84 Vernlt 
14 24 Verlple 
« 34 Vieon 

44 14 virtfge 
U4 12*i Vlrco _ 
94 64 VIsuolG 
124 7'j Vaolex 
21 IS VuIcCp 
84 S Vyqust 


550 95 
1.40 65 11 
.44 15 17 


A0 25 13 


Mr 5 <3 
-TOO 33 10 
JO U 11 
500 3.9 12 


94 10 + '* 

20'* 30'7— "h 
3 d »4 aPi - j 
74, T«- ;* 
17 T 5 184 + ‘3 

z k y >i 

104 104 + .* | 

V s‘— j 

??« 3 * ■* 
184 184 + * 
84 * 

94 94 

704 W 1 * + * 
64 *'■* * ^ 




NEW HIGH5 190 


w*. 6 Qvsbgs .14 xi 



6 

94 

9 

94 

i 

25 

7 

fls 

64— 4 


■Fta 

54 


11 

4 

16 

4— 4 

11 

2W» 

2116 

214 + 4 

202 

'«% 

154 

4 

* 

11 

1216 

124 

124 



104 

104 

4 

174 

174 

174 

3 

2th 

24 

24 — 4 

4 

16 

16 

16 

214 

45U> 

444 

45—4 

37 

6W| 

6 

6—4 

10 

54 

54 

54— 4 

4 

416 

44 

416+4 

24 

1116 

11 

tl — 16 

71 

164 

164 

164—4 

107 

184 

WVs 

184- 16 

77 

14 

14 

14 

1 

364 

264 

264 + 4 

41 

74 

74 

74 

4» 

194 

194 

1916 — 4 

174 

234 

234 

234— 4 

1 


»< : »_V.T-7: 






AMEX I lighs-lxnvy 



NEW HIGHS 25 


164 OEA 
154 OakwdG 
44 OdefAn 
S\6 OddB 
134 OhArt 
184 OlUInd 
104 Olsten l 
34 OOkieo 
4 OMwnh 
44 OnalH A 
44 OrhHHB 
1 Ormond 
16 OSulvn s 
64 OvfrdF 
Bit OTOricH 


M 8405 
40 2J> B9 
M 5 21 


556 1.1 
.15 27 28 
50 IS 29 


JO. 15 17 
52t 4.7 13 
JD 15 28 


194 194 
174 174 — 4 
74 74— 4 
74 74 — 4 

274 284 + 4 
204 204— 4 
27 274 + 4 

4 4—4 

44 44 
54 54— 'A 
54 54 

1 1 

244 254 + 4 
174 174 + 4 
13 134 


WilH 


34 14 
34 2 
224 84 
114 84 

154 114 
114 84 

244 154 
24 14 

2 14 

164 114 
224 124 
■4 54 

164 104 
84 64 

184 154 
154 104 


UNA 
U5R Ind 

Ullmta 17 

Llnlcoro 23 

Untcouf J5 5.1 
Unimor T.93elXB 
UAIrPd 546 25 15 
UFoodA .10 75 
UFoodB 

Utfifisd 11 

LI&AGwt 

UntlBlV 

UrtvCm 16 

UnlvRs 15 

UnlvRu M 45 118 
UnvPef 


21 14 

1 74 

483 214 
168 114 

10 144 
183 1016 

4 244 
74 14 

12 14 

134 124 

11 154 

110 54 

15 104 
28 <4 

60 174 
116 124 


1 . 1 —4 
*4 24 
204 214 + 16 
114 114 + 4 
144 144- Vi 
94 104 + 4 
24 Vh MVS +4 
14 14- 4 
14 14—4 

114 114— 4 
1516 1516 + 4 
54 54—4 
104 104— 4 
64 64 
174 174 + 4 
114 114— 4 


ATT Fd 
BloRodAl 
CanStor s 

Hormet* 

Medq 

PoSPLolD 

UnAIrPrd 


AmExprwt AmMedBM 
CoroPLpt CllodelHhl 
Flrstcorps GovidinvTr 
Kay Jewel n MacNIScti 
OhtoArtCo Obv-ns 
RMSENcfr Ragan Brad 


Bio Rod Lb B 3 
Ctawmonl 
GuwdsOi 
McnrnGp of 
PGE2MetV 
SCE 75801 


arsiLcm 

4rr«'iS.‘f 
ArK'SIN.-"' 
Arm A* In 
EUirnelBk » 

BCMSout" 

6u-»3*Ci> 

CsesCoic. 

Cw£ 3-tta* . 
ConEd sr!-* 
DavlPL o«- 
DclE 15*3*' 

Dl5i"rC> 

D«w? P3.V 
OuiePt'H 

O'MLt rio®- 

P«JMa* '.Vi 

Ford-vei 
Gold Ait Ro 
Gl'.VnFin 

HcHidarv^ -* 

IC Indus! 
IBM 
johniJn 
Ell 

Measure* 

Minn.viV 
iMprocShoe 
Norlll SOU 
OhEO odi o' 

OfiPwO-^af 
PcpS'Co 
P nEI irsal 
PSNK2"5ol 
P5NH 38«olE 
RCA 

Rem.V. aopi 

wISaianICo 

SeoriRoc!- 

SoorceCoo 

Sprin'n'nd 

Teiedyr.c 

TmGPS. 2Ma 

Unit Brands 

Vulcan Vo" 

WillrnsEI 


A*n*7nirC'' 
pi. 17' P'3 
gr^i 1 " 'Ip 
; ai rre 

£' 

;-;in fcin 
Cr.E 

r-gnmlKn 

Oi.'ELO'E 


^'iT.e'r 

r.. »*rF pJ = 
"■u-< r PtW 
c s*.: m 

;jf Cere 

O'a ■ , .' ,Cn •' 
;.nvn7rcc 

■ T* Ce’r'O 
miCyll'Ol 
r.'f^Cs 
-ori 
vctE yisi 

r.'oni Pom 

•V.e-s>. 
•-£P.. 4' Op* 
.-‘►.Fir If.'Pl 
Pcc ‘-rnia 
Pc SrivSIr 


P'.‘0‘->:a:eiE 

r \-,-± ^;c!F 

PC-'.CViBI 

ifr.nHir, 

jr.-n-.r-EP 

i'crv.ot 

Terr. - S- 


•jnErPeo 
.■.alter J~ 
P.-SSi. 


AnmapHP 
A- "T BlO 

a.-nerm 
6pP»r SlTo' 

BciAiia-r 

r-erecr.-. 

ColFodpi 
C -Ar-H-r . : 

CaE 11*1 

C*C!96a:b 
MiTPL a*F 
CiC-.rrp*3 
Drcvlu*. 
DbkeP piC. 
;j»ePD<*. 

EM.iS 

?;**« 

C-EICO 

GdrienclB 

Giisy skp' 

Ing'irlTP- 
sCrCerP l o- 

*crers e S 
/.lav av 

ve>£o o' i 

voresr-.'P-- 

N.-vaaaS^. 

uspw. 7a;pi 

in Ed i3iui 

Pac.*RrsP* 

P.“.EI4tf5* 

piar.irm 

B5«H 4TJc‘C 
P&r.M ;oJ«IC. 
RTE Cons 
s.Ocr'i, r. i 
S;d* Pene' 
S.orr30a:= 
Jouimana 
•RE C-2TP 
To-i-do Id 
'.iSG pi 
billnl 

1600* 


SffL 

-.-.r* ;Pr-i 
A5 t '*:*39< 

Ef'CCB- ' 
ph. :-dj»» 
<3ir "ion 

C«1 28/09 

; ft AO'.i 

r>o<io'i»+ri 

G^onFontfi 

?+VE-.. 


Msd I' 


ced'CD 
► ’em. ns 
irreEWl 
r.'oco Ca 

^wriwaral 

w,ar;-jitb 

i.ieioSirn 

jOA+ICfir 

^egaMman 

vcEnnsaa 

veiEdr+H 

Vjrvar,E6sn 
■:r*rn,Ei 
•iYNEX 
OhPw :in*C 
‘■errei Jv 
■m; . U’ip* 

=*rr>r»GCf.6 
PSNH 3,'toIO 
7.u.C»R«|. 

rccctCa 

So ,, /K'ni 

•KGi'arr.'. 

Oliver rGa 

SOuVilnS B* 

lijn3.rH 

-rC.PL 

Jr. El 64USJ 

•- 7?i»9 

•.".rPcc Ira 


NEW LOWS 4* 


NEW LOWS 25 


AflOSCM 

Chomp Ho 

Dtalcon wt 

GolesLrlef 

NRMEngyn 

SehnCorp 

WtnnEnlAwt 


Baruch Fas! BehJenEUhe 
CognlFron ConOil Gas 


EiawOevtwt EngyDsvl un 
GrahamOG KlrhyEw 


NRMEngpf PromRsColo 
SharonSII Svnallov 


umoccwn 

CrvstolOlf 
Galax yOll 
MovElWV 
5cw>treRsn 
UNA COra 


AelnaLil pi 
Avalon C p n 
ButlesGo p! 
prMsrind 
FrMcMEP n 
KanehSvc 
NDiil <35d 
PnooPrpd 
RoMOn 
SunEngv n 
TranscoE.p 


ilninl ~'-z. 
Sas ci !n»i 

sa. InAirL 
PrVr.V.GC- 

LL5.H -:•«* 
NiCCP in: 

P-iaEry* 
Sab.icR* 
Teuco me 
Union E .si r> 


A.cm ' lilt 

BarvAmRI. 
3 JS-p9B» 
EnircEiF 1 

GnMPtr M n 

LC»Pe'*' 
Noirv3P:» ad i 
Peed- 3B3l 
5-7 via -iXii 
T?- 01003". 
UnilEr.ii 


acccwpi m 

Sax’lrSfA 

OanOsHOIn 

W3cnov 

KdsOiiRhy 

■AarcaSo 

pnil.ppri 

RertCcrur i 
Sm-WInT! 
ra«!rMt9M 
AlShirOCil 


^Kyijiiii] 1H 1 1»; 1 2») M* Kl 9 jTI l 



14 14 14 

99 114 114 114 
22 216 2U 24 

91 4 4 4 

65 34 34 34 
3 54 54 54 
24 24 24 
114 114 114 
104 10 
124 114 
104 ID 



^PZ 



DSM helps 
car makers 


shape up to the future 


MOD 0/293 
Man Carp 97 
Men Coro Oo 


•4 05-04 
3K. 65-03 
84 U45 
84 0M1 
14 19-12 

B4 own 

84 1564 

14 19-02 
bw. iwn 
14 21-04 
84 78-02 
Hh 27-02 
84 M 
84 27-97 
7% 1693 
84 294 
84 OWE 
84 I7-n 
84 77-02 
B4 264U 
74 09-01 
74 21-12 


8% TS-82 
84 1505 99 JB 
7JB 30+4 9958 
84 3001*9.94 
84 2905 9935 
84 13-02 9935 
14 2842 99 JS 
84 2602 99 A6 
14 8102 99 JS 
8.1625180? 9930 
84 7102 WAS 
84 2201 
84 1603 
14 1501 
84 2601 
84 1501 
84 31-12 

N nol 


;++-4us«J-44l 



THE automotive industry 
constantly searches for new 
materials. Priorities go to 
safety, weight and cost 
savings. At DSM we offer 
designers the products their 
dreams are made of. Plastics 
that are ten times stronger 
than steel; are twice as strong 
as carbon fibres: impact 
resistant: temperature 
tolerant and as an extra, are 
good enough to look at and 
keep them ahead of the 
market 


Leading manufacturers 
have already selected DSM 
products because of our 
lead in plastics technology. 

As one of the world s top 
ten chemicals groups, DSM 
is a vital and ambitious 
company with product and 
capital expansion plans 
for decades to come. 


DSM IC 


To achieve these 
ambitions we seek out the 
brightest of talents. More 
than one hundred graduates 
join us every year to keep up 
the momentum of our 
research into new 
technologies. 

Our secure financial base 
ensures that we have the 
means to match our 
ambitions . . . and those of 
the automotive industry 
throughout the world. We’re 
miles ahead. 


SIEMENS 


Siemens Western Finance N.V. 

W iB ermtod. Curagoo (Natharicmdl AntilW). 


Final Maturity of our 

9% II.S. Dollar Bands of 1970/1985 


In o cc or donee with paragraph 3 of ths Gondftionx of Issue, the last bonds 
outstanding bearing numbers 


8,541 through 9,533 
24,310 through 26/98 
27,33T through 28,113 

will become due For repayment on December 7, 1985 


leave it to the professionals . 


DSM P.O. Box 6500. Heerlen. 6401 JH. The Netherlands Telex: 56018 




Upon surrender of these bonds, they will be redeemed, free of charge, at 
their face value commencing December 2, 1985, 
o] in the United States of America 

- At EuropeatfeAmerican Bank~& Trust Company. New York 
Citibank NA, New York, 
b} Outside the United Stefas of America 

At the banks tilled below with due observance of the relevant Foreign 
. exchange regulations, if any, prevailing in the countries concerned, by o 
’ dollar cheque drawn on a New York bank or by oedit to a doflar 
account: 


Deutsche Bank Akfiengesefesehafr 
Airatardam-Rotterdom Bank N.V. 

Lloyds Bank Internat io n al Limited 
Barque Internationale 6 Luxembourg SA 
Cridr Lyonnais 
Crecfito Itofiana S.p.A. 

5od6tA GAnBrcde do Banque SA 
Svenska Hbndebbanken. 


The bonds wiB cease la bear interest after November 30, 1985. 

The interest coupon* due on December 1, 1985, will be paid to the holders 
se p arately in the usual manner. 


Not afl the bonds drawn -for redemption in the previous years haws been 
presented to dale. This applies to bonds bearing numbers 


3,074 through 8/40 
: 12/21 through 14/20 
. ' 16,402 through 19,145 
22/66 through 24/09 
28,114 through 29/490 

As such bands have ceased to bear owe rest as of their respective redemption 
dates, holders are urged to present them for redemption without delay. 

Willemstad. Curacao Siemens Western finance N.V, 

November 1985 The Managing Directors. 


ITT 





.i:m\ 




*«c; fin 

Prrp ,3r 

N-3* A« 

cin«i 

.vot <y+. 

-vsas 

>W Ac- 

iCj 


74 


r.n-r: 

Us* 


ISsJtCi 

u 


00 75-” 

0**!nsr« swiMm*! 
OlWfC.V-’Httl 
PlrfUl 11 *94 


5*01 vJ "3 
5UMPI6> 

S‘e|nt «1 
SocCvoRI.-** 
Soc 3e«iMcr«« 
Sec Ger NoiTU 
SoC 3«i7r 


Non Dollar 


isseer/Maf. CwecnMeit dm Askl 


MAHH ELECTRIS ffam, LID. 

(COR-*) 


Tec undwripwd Janwmaa that as from I 
“*^**1985 at Kas-Asiocutie 51 
hpuistrut 1 AuMeitbuo. drr. to.m 
[mcOT'paird hr ".'LHuimO afthrd 

Su^l^S?* Work »* 1*1 
Jfc wih DQs. 5^6 »« per CDR n 

50 J«. nod with DtU. 107/0 am j 

^ i? WB Y « 9,— oTah.1 a 

t Yen « 

1 , ~£I R? a>R - 30 «ht. •’ 

iSr ” CDR - uw ■ ■ 

fj=“ atusp-cDTaw:) 

25180 P"CDR L000* 

e be iWuctoL ,«ter CO20.I986 the . 

Sw 1 * ”=? 5.W-. ms. 10080 net 

lr T ,r - ^ M and 1.000 do. each 
wrtfiilwjapanise tax nmilCH 
WTKRDa* DEPOsITA! 
COMPANY N.V. 
Wnfam.27tli November. LOSS. 



m 




























k * J 




INTERNATIONAL. HERAID TRIBUNE, WEDNESDAY, DECEMBER XI, 1985 


Page 15 


USINESS PEOPIC 


antes Head for International Unit 



By Bninda. Erdmann. . 

■ Intenuttianal Herald Tribune 

' -OND0N — ADied-SgnaHnc, 
UjS. industrial famwowwiite 

1 d by the ma^er this year of 
Corp. and Signal Cm* has 
ned a nniiioeqaiidiis intern*- 
al business. 

tenid W. Derbes, Aflied-Sgial 
mdve vice president and a 
nber of the management corn- 
ice, has-been named president 
he new subsidLny, Alhed-Sg- 
Intemadonal Inc. 

Jlied-Sjgnal, whose interests in- 
Le aerospace, electronics, chem- 
s and advanced material* and 
motive prodncts. said the in- 
.ational unit was formed to "al- 
thc company to respond more 
ctivdy to the rocreasogjy coro- 
; and competitive international 
incss environment.” 
he unit will develop new mar- 
- 1 , represent the corporation in 
; with governments and ad- 
iicd-Signal on world eco- 
aic and political events, 
jticoip said Charles B. Young 
, become its country corporate 
r our in tbe United Kingdom be- 
ing in January. He succeeds 
n de M. Price, who the bank 
1 has resigned to “pursue private 
nests." Mr. Young currently is 
corp's country corporate offi- 
for Canada. 


Cranrfna Engine Co. has named 
Claude F.G. Qsen to. the new post 
of vice president, European busi- 
nesses. Mr. Elsen is basedat Cnm- 
ntins’s European headquarters in 
Frankfurt and is responsible for all 
aspects of marketing and distribut- 
ing tbe company’s engines is Eu- 
rope. Previously, he was in charge 
Of marketing activities related to 
North American trade manufac- 
turers, based in the Columbus, In- 
diana, headquarters. 

Quo Holdings PLC, the British 
pharmaceuticals group, said Paul 
Girolami took over as chairman 
after the retirement of Sir Austin 
Bide at the dose of the annual 
general meeting Monday. Mir. Gir- 
olami continues additionally as 
chief executive until Feb. I, when 
be will be succeeded in that post by 
Bernard Taylor, deputy chief exec- 
utive. 

Adas Copco AB, the Swedish 
maker of p umping and driUtng 
equipment, said that Magnus 
Unger would on Jan. 1 become 
m a n agi ng director of its Adas 
Copco (Great Britain) Ltd unit. 
Currently managing director of At- 
las Copco Belgium SA, Mr. Unger 
will succeed C Melville Exringtoo, 
who has been appointed president 
of Atlas Copco Aiipower NV in 
Antwerp. Mr. Unger will turn over 


bis duties as head of the ftri giim 
unit to Gaston Moisse. who is man- 
aging director of Allas Copco Chi- 
lena. • 

Sanyo Securities Co. of Tokyo 
said its president, Shiro Uiwnalsu, 
has been appointed nonresident di- 
rector of Sanyo International ltd. 
in London. 

Samuel Montagu & Col, the Brit- 
ish merchant bank, has appointed 
Douglas Bull, Rqyan Bto, John 
Evangdides, Stanley Hum, Irene 
Ldbowjtz and Peter wnHams as 
executive direcuns. 

Coats Pbbms PLC, the British- 
based textile concern, has mimed 
James McAdam as chief executive, 
succeeding Sir William Coats, who 
continues as nonexecutive chair- 
man. The company said Sir WB- 
Bflm has indjq i ffj hi« in ten t io n to 
retire at the conclusion of Ac next 
annual general meeting. 

Barclays Bank PLC has appoint- 
ed Ian Butler a director. Mr. Butler, 
who is chairman of Cookson 
Group PLC, also is a director of 
Barclays Bank UK Ltd In addi- 
tion, Peter Ardron, senior general 
(international) of Bar- 

daysBank, becomes a vice chair- 
man Of Barclays International Ltd 
with effect from Jan. 1. He remains 
a director of Barclays Bank. 


tockrOptionPlam May Spread in Europe 


(Continued from Page 9) 

large share options by the 
±ei yet. In our sector, it is not 
practice to go in for vast nmlti- 
'joD-potmd potential executive- 
re options." 

. tut this British multinational al- 
ly is altering its stock-option 
3 to attract new corporate tal- 
From now on, for example, 
dy hired executives wDl be al- 
ed to exercise their stock op- 
ts sooner dun prmoof conpt- 
poUcy had allowed. * 
Lccording to the Coopers & Ly- 
nd and Monks Publications 
iy, 52 percent of the British 
ipanies sampled had execative- 
:k-option plans in July 1985, 
jpared with 41 percent in Feb- 


niaiy 1984. Fifty percent of the 
companies said that new tax legis- 
lation was the main reason for in- 
troducing the plans and 90 percent 
mentioned H as a contributing fac- 
tor. 

Executive stock-option plans are 
supposed to wed top management 
to shareholders by encouraging 
them to lake a long-term view of 
the company’s future instead of a 
“take-the-xnoney-and-run" atti- 
tude that annual rath bonuses may 
encourage. 

The U.S. practice erf granting 
c hairmen, chief executives and se- 
nior vice presidents large stock op- ’ 
dons persists even when, in individ- 
ual cases, the amount of money 
earned through stock options did 


not reflect the company's perfor- 
mance. On average, a US. chief 
executive gets an annual stock-op- 
tion worth 80 to 100 percent erf 
salary, including bonuses. 

According to a survey by Busi- 
ness Week and remuneration spe- 
cialists Sibson&Ca, two chairmen 
whose compensation was several 
million dollars were among the 10 
U.S- chief executives whose compa- 
nies’ earned the lowest relative re- 
turn fa r their shareholders. T. 
Boone Pickens, chairman of Mesa 
Petroleum Co„ earned $18.6 mil- 
lion in 1984, including stock op- 
tions and tong-term cash bonuses, 
and Edson 0. de Castro, chairman 
of Data General Carp., earned 
$7.53 milli on. 


LM. Ericsson AB. the Swedish 
tekeommunications and electron- 
ics- concern, has appointed Jean- 
Pierre Mezosy to bead its new 
French unit, Programatic SA. Mr. 
Mezosy previously hdd senior mar- 
keting posts in tbe international 
divisions of Speny and Datasaa- 
b/Ericsson in Brassda. 

Stanley Works has named Rob- 
ert Widhsm as group vice presi- 
dent, hand tools division. He will 
be responsible for hand tool opera- 
tions m the United States , 1 OmaHa, ' 
Europe, Latin and South America 
and Australia, as well as band tool 
sales and marketing operations in 
Asia and tbe South Pacific. Stanley 
Works is based in New Britain, 
Connecticut. 

lnchcape PLC, the international 
trading company, has appointed 
Sir Peter Baxenddl as a nonexecu- 
tive director from Jan. 1. He is a 
nonexecutive director of Shell 
Transport & Trading Co. and re- 
tired as rtian- mi m of the committee 
of managing directors of the Royal 
Dutch/ Shell Group last June. 


France Improves 
Trade figures 

Reuters 

PARIS — France had a pro- 
visional, seasonally adjusted 
currem-accoum surplus of 1.6 
billion francs (5207.8 million) 
for October, an expansion from 
a revised 1 . 1 -billion-franc sur- 
plus in September, the Finance 
Ministry said Tuesday. The cur- 
rent account includes trade in 
merc h a nd ise and nonmerehan- 
dise items, such as services. 

The cumulative, adjusted, 
current-account deficit for the 
first 10 months of the year nar- 
rowed to a provisional 100 m D- 
Soa francs from a 7.2-hHJion- 
franc deficit in the like 1984 
period. 

In unadjusted terms, the cur- 
rent account had a surplus of 
2.4 billion francs in October af- 
ter a revised deficit of 200 mil- 
lion francs in September, the 
minis try said. The unadjusted 
cumulative deficit for the first 
10 months of this year shrank to 
5.1 billion francs from a deficit 
of 11.3 billion francs in the like 
1984 period. 


Dollar Sector Regains Allure 
As Currency Rises in Europe 


By David RjCss 

Reuters 

LONDON — Tbe attention of 
borrowers returned Tuesday to the 
US. dollar sector of die Eurobond 
rriflHfM, which firmed sharply in 
the moaning as the currency contin- 
ued its gains, dealers said. 

More than $900-rmUion worth of 
new bonds were launched in the 
dollar-denominated, fixed-rate, 
floating-rate convertible and war- 
rant-bond sectors. A syndicate 
manager said: “We’re seeing some- 
what more investor interest in dol- 
lars." - 

However, after gains of up to one 
point in the morning sparked souk 
selling by retail investors, fixe- 
d-rate doBar-band prices eased to 
dose about Vt point above Mon- 
day’s levels. 


Meanwhile, although floating- 
rate-note prices remained under 
pressure from a flat yield curve for 
short-term interest rates, Belgium 
launched a $400-million, two- 
-tranche issue. 

Dealers said tbe issue was too 
tightly priced for current market 
conditions, noting that the fiat 
yield curve make s financing float- 
ing-rate-note holdings difficult. 

On the market, the issue's $150 
millio n in 10 -year notes paying the 
six-month London interbank of- 
fered rate and $250 million in 25- 
year notes paying 3 basis points 
above Libor were both bid on their 
total fees. Both tranches were 
priced at 100.10. The 25-year notes 
had a put option after 12 years. 


CURRENCY MARKETS 

Sterling Falls Amid Oil Price Fears 


Vruted pros huemtiional 

NEW YORK — The British 
pound tumbled Tuesday against 
major currencies in heavy selling 
prompted by ihe prospect of lower 
prim for Britain’s North Sea oil. 

“ lhe pound is under severe pres- 
sure in ad centers,” a London deal- 
er said early in the day. “The move 
is not into any particular currency 
— just out of "sterling." 

The dollar was sidelined and sta- 
ble, ending in New York at 15395 
Deutsche marks, up slightly from 
Monday’s L5330 DM, and 11215 
Swiss francs, up from 2.1135 
francs. 

After falling during early Hading 
Tuesday in London, the pound re- 
covered slightly to dose at £1.4350, 
down from $1.4585 on Monday. 
But it remained sharply lower 
against major European currencies, 
trading at 3.6438 DM, compared 
with 3.6953 on Monday, and at 
3.0393 Swiss francs, compared with 
3.0863 francs. 

Later in New York, sterling fell 


to 5 1 ,4340 from Monday's $ 1 .4595. 
Dealers said the Bank of England 
may have intervened when the 
pound dropped to 51.4300. 

The British currency hit SI. 03 in 
February, when the dollar was at 
record highs, without noticeable re- 
sistance from the central bank. But 
that was before major industrial 
countries agreed in September to 
bring down the value of the U.S. 
currency. 

The pressure on sterling resulted 
from the decision by the Organiza- 
tion for Petroleum Exporting 
Countries carrel to abandon pro- 
duction quotas and lei prices go 
where they may. 

If oil prices drop to 520 a barrel, 

as predicted by Sheikh Ahmed 

Talti Yamani, the Saudi oil minis- 
ter, it could mean S7.2 billion less 
in revenues for Britain, one of 
OPEC’s main competitors. 

London dealers predicted (hat 
the pound would fall to at least 
$1.40. but some U.S. dealers main- 
tained that its weakness would be 
temporary. 


Daniel Holland, vice president at 
Discount Corp. of New York, said 
much will depend on how the dol- 
lar performs overall- He believes 
that lower oil prices could ultimate- 
ly be negative for the dollar. 

Dealers said markets were very 
quiet aside from hectic activity in 
the pound. 

“Given Japan’s dependency on 
imported oil, the yen did not appre- 
ciate as much as -it should have." 
one dealer said. 

In Tokyo, the dollar eased to 
203.45 yen from 203-80. Later in 
New r York, it rose to 203.50 ven 
from 203.35. 

Tbe dollar closed in New York at 
7.7465 French francs, up from 
7.7250; 1.724.00 Italian lire, up 
from 1,717.50. and 51.74 Belgian 
francs, up from 51.45. 

barber, the U.S. currency closed 
in Zurich at 2. II 88 Swiss francs, up 
from 2.1123 cm Monday. It was 
fixed in Paris at 7.757Q French 
francs, up from 7.7203, and in Am- 
sterdam at 2.S63 Dutch guilders, 
up from 2.850 guilders. 


New Bond Issue Eliminates Most Middlemen 


By Carl Gewirtz 

Imematkmd Herald Tribune 

PARIS — Innovation in the in- 
ternational financial markets, 
which up to now has been focused 
on producing new instruments, was 
stretched Tuesday to include mar- 
ket practices — etimmaiing most of 
the middlemen who normally par- 
ticipate in marketing Eurobonds. 

This is what Shearson Lehman 
Brothers did in marketing a $200- 
miJJion. 15-year issue for the World 
Bank at an issue price of 100M. At 
the same time, the investment bank 
arranged in the United States a 
serial zero-coupon issue for the 
World Bank for a n ominal value of 
S500 million. That is a 30-year issue 
with $ 6,666 million worth" of bonds 
sold to mature between the years 
2002 and 2015 and $73333 million 
sold to mature in 2016. 

The technique of one bank sin- 
gle-handedly underwriting and 


selling a bond issue is the logical 
consequence of the many criticisms 
voiced about the chaotic distribu- 
tion practices in the Eurobond 
market. 

Normally, one bank would un- 
derwrite an issue to win the busi- 
ness and immediately spread the 
risk by inviting other banks to join 
a syndicate either as sub-under- 
writers, co-managers or as selling- 
group members. 

Bur too often hanks accept the 
invitation for special reasons — a 
relationship with the issuer, fear erf 
not being invited into other issues 
arranged by the lead manager or a 
desire to buy prestige by being seen 
to do business — that bear no rela- 
tion to whether it has the clientele 
who want to buy such bonds. That, 
in turn, results in co-managers get- 
ting rid of the paper as soon as 
possible by dumping the bonds at a 
price equal to their full commis- 


sions — often obliging the lead 
manager io support the price. 

To deal with this, lead managers 
set terms on new issues that assume 
that the price will immediately 
drop by the amount of the selling 
commissions if not the Tull under- 
writing commissions. This practice 
leaves scant profit for anyone. 
Bankers have argued that the" best 
way to deal with this profit-cutting 
approach is to do away with the 
middlemen and. as Shearson Leh- 
man Brothers is now doing, cany 
all the risk of marketing the paper. 

This obviously can only be done 
for certain issuers such as the 
World Bonk whose paper will be 
actively sought by investors. 

Competitors said it was inevita- 
ble that the distribution system be 
revised and gave Shearson Lehman 
Brothers credit for. in the words of 
one U.S- banker, “having the guts” 
to initiate it. 


Tuesday’s 

arc 


Prices 


NASDAQ prtCM as of 
3 p-m. New York time. 

Vi a The Associated Press 


snfli 

L«w Sftc* 


Saha In N* 

PtV.VItt. UN HMl Low 3 PM. OlW 


“ll" 



atm r«i t 

ttiSisF' 

lW 1% Ufa 

£ £ gt# 


12 Month 
Kish Low Stack 


on. n* 


Stas in 
tom ww 


m 

Law J PM. Ch to 




37* 32* 32»— % 
30W »tfa 30 + Vfa 

io* low lew— w 

SW AH «fa— w 

at a* »* + w 

35* 3SJfa 3SW *■ Jfc 
m aw aw— * 
znfa 2 *Vh 29V*— w 
13U> - 

A 

w „ 

37Mi 3M 37 + Vh 

23V. 23tfa Zftfa _ 
U TIW 12 — W 

32Vt! E 37* + ft 

19 lim 19 

B*3S15S=S 

19 IS* T7 

T 2 W Irtb 12 

IS W IS +1 

19Va It* 19Vi + W 

30 2Wh 29lfa— Ifa 
16V. H 14 — W 
23 MVfa Wlfa— Ifa 
Ufa «6 Mk 
tm 6 V. 6 V. — y. 

2146 2116 21W— V. 

25V* 23 25 

15V4 Ulfa 14* + IS 
11W 1Mb lHfa— IV 
10 Mb 9*— Vf 
7PA 2SVS 241fa— W 
lllfa Wfa 10 * + lb 

15 IS IS 

4 3* 3*— Vb 

M M M,, 
6 * 6 * m + W 

124b lllfa 12 * + W 
4Vfa 9* 4 — Vf 
221b 27V5 7SH +■ tb 
17* 17* 17* — * 

223 , 2 * 22 * + * 


Alfa BBDO 
6* BRCom 
W4 Soncoki 
23V. BCOHW 
6tfa BonsH 
31W BKNEt 
«S BfcMAm 
,91fa Bonkvt 
12* Ehmta* 
BoronD 
SS Borriss 

6 BsTnA 

7 EkraAm 
31 Vfa BMtF 
43 BovBta 

4* Bovty 
Mb Bention 
30U BetzLb 
KM Bis B 
m BIsb ear 
7 * Bindws 
» BIoRm 
■ 4* Blown 
j I Bksrc 
~ 6 BbfcR 
6W Biminc 
26* Boot Bn 
IS* BottEv 

4* Bgirre 
Ulfa Bos) Be 
13* BShnFC 

g RMCa 

m Bronco 
* BrwTan 
b* Brunos 
nu BawTs 
12* Brnim 
U BurrBr 
D* BMAi 
3 Bin in W 


200 4-7 

SO S3 
1J6 16 

jo ao 

2j00 IS 

IDO 10J 
M 1J 


1J4M2.1 
JOaM 
iAOaV 
.12 1J 

1-32 If 


1J0 O 
•3061,4 
-U IS 
1J0 U 
Me 1J 

.12 32 

.IS l.l 

M IS 

1J4 U 


276V 

177 

57 

36 

209 

1009 

34 

97 

432 

60 

50 

20 

42 

237 

100 • 
12 
7D 
532 
63 
19 
307 
917 
548 

•1 

141 

312 

IN 

1233 

192 

SS 

35 
1071 
220 
29T 

aw 

73 

46 

708 


47V. 46* 

7* 7Vfa 
T71fa 17 
37VS 37V. 
10* 10 
56 54 

Mb 9* 
19* 19* 
SO* W% 
11* 11 
II* TWO 
10* 10* 
a* a* 
39* 39 
S3* 62 
S 7* 
12* 12* 

34* 33* 

14* MU 
20* 19* 
0* 8* 
S* 8 
15* IS 
1* Ufa 
V* M 
9lfa 9* 
34* 34* 

21* 21* 

6* Mb 
20* 27 
30* 29* 

10* 10* 

3* 3* 
1 * 
IS 14* 
2514 24* 

16* IS* 

19* 18* 
32* 31* 


47 — * 

7* + * 
T7 — * 
37* + * 
10 — * 
55* +2 
«b— * 
19* + * 
20* 

11* + * 
105b— * 

10* + * 

8* 

39* + * 
62*- * 
7*- * 
12* 

34* 

14* + * 
19*- * 
8* + * 
BU + * 
U* 

11b-* 
8*— * 
9*— * 
34* 

21* 

6*— * 
27* -f * 
30-9* 
10* 

3* 

I 

IS + * 
25* +* 
15* 

19* +1* 
31* 

8* 


f* CCOR 
Mb CPRiib 
Mb CML 
4 CPI 
4* CPT 
6 CSP 
TV, CACI 
7* CbrvSc 

a» Caistvo 

Ju.CnltonP 

I* Colny 
6* cononG 
% concru 
2* Crdnip 
HbCorwrC 

ass“ 
a as; 


.93* 


.16 


70S 

% 
2 404 

266 
59 
106 
42 530 
J 

IL 
733 
1.1 27 

749 
132 
A 2 

20 ua 
M 
549 
U 
292 


I *k 


4* J* 
4* 4* 
13* 12 
X 19* 
Mi 6 
9* ' 
3* 

22 » 

II* 
3* 

£ iS* 
***% 

14* 14* 
17 16* 

16* IS* 
15* IS 


6* + » 
4*- * 
12 — * 
20 — * 
6 -* 

S* + Ik 

33*-* 

*+* 
2 -» 
u* + * 
38* + * 

Tit 

14*— * 
16 * + * 
IS*—* 
15*4-* 


25* CntrBc 1J0 SA 
8 Cantcor 

226 OS 
M U 

(■ 



kPnt 
kTch 

hLwn 

4* Chamox 
9* ChryE 

a* email 

23* CMPae* 

8?§wt M 16 
Onhl .129 3 



36* 

20* 

71% 

M* 

21 * 

15* 


&Sfcr tft'if 

ffiS 

16 * Ckvtn 200 11 J 
4* atMma 
13* CaaUF 

tTSSSI A.U 

II CotWTIi 
Z* cmabR 

"aasr 

26% CSUAC 1J0 2J 
15* COirTte 
15 CaioNl 
5* Camors 
13 Comert 
10* Comdta 
1* Comdiai 


J* 25 






26* 

13 8* ■ _ 

38* 24* CmwTl 
«% % ComAm „ 

aou 14* camind J8 15 
12 * 8 CantSvi ,10o 1-0 
24 14* onedda 

25* 14* CmoCr a J2 1J 
4* 

15* 

3BU 

13* 7* CmpOT J8 S 


15* 

9% 

B% 

SH 

10 * 

22 * 

11 * 

8 

12 * 

9* 

27 

IB* 

26* 

89b 

54% 

5* 

4% 

45* 

18* 

■ 

12* 

21 * 

S* 

6* 

22* 

16% 

9* 

11 % 

31% 

S 

7* 

M* 

m& 

29* 

W% 

34* 

28* 

20* 

27 


5* CfflpLR .12 16 
2 ClTWIM 
6 Ifa CmpPds 
9* Cm Taka 
3* Cmoutn 
I* CutcH 
6 Comshr 
6 Conorti 
13* CnCan 
10 * ccapR 
11* CGcwS 
6* CanFbr 
32* Cnspoo 1^8 10 
3* CotwPd 
1* Coraul 
29* CnHBc 
8* CHHIts 
4 CfUw 
4% Convgl 
11 * Convrse 
ItCOOrBJo 
2% CnrLr 
14* Coots B 
5* CoayM 
6 Corcam 
6* Cfwtlls 

21* Corvst* 104 39 
1% Carvus 
3* Catma 
10* CrKBfl 
10 % crow* 

20% CnwTr 
9 CwnBk 
15* Crumo* 

18* CulbiFr 
15* Cutums 
18* Cvant 


TAB 6 J 
lJB 137 
2.16 7J 


JB 25 
2J4b 47 


A0 2.1 


.14 1J 
M 13 


94 43 
50 25 


iisir* 

5% 5* 5%— * 
15* 14* U%— * 

4 3% 4 + * 

35* 3416 35% +1 
19% 19* 19* + % 
21* 2J_ 21* 

9* 9* 9% + * 
zi* ^ mt + % 

^ 44 * S* — * 
nu 11 % iiu 

30* 2Hfa 3B% +1* 

» » % . 
19* 18* 19* + % 
17* 17* 17* 

3% 3* 3V.— % 

7* 6% 7 — * 
2ftt 21* 28*— « 
9* 8* 8*— * 
7% 7* 7* + * 
IS M* 15 + * 

7* 7* 7%— * 
7% 7* 7%-+* 
2* 2M 2* + * 

21 2 S^_* 

4* 4* 4* + * 
1* 1* 1*— * 
11* 11* 11*— * 
7* 7* 7% — * 
14* 14% 14* 

12 * 12 * 12 *- * 
12* 13* 12% — * 
6% A* 4%— * 
49* 40* 4Mb +1 
3* 2* 3* + * 
2*- Z* 2%— * 
43* 43 43* + * 

10% 9% 10 + * 

IN II* lUb— * 

5 4 % 5 
mb 19 If* 

14% 13 * 14*— U 
7* 7* 7* 

10% 10* 10*—* 
31* 31* 31* + * 

1% 1% 1* 

3% 3* 3% + * 
14* 14 14* 

IB* 77* 10 — * 
24 23* 24 + * 

14* 14 14% — % 

28% 20 20 
21 * 21 * 21 *— * 
19* 19* 19* 

19* 19 19 


17* 

4* 

13* 

30% 

37* 

30% 

9% 

111 * 

22% 

14* 

9% 

30 

5* 

8* 

7% 

23* 

79* 

30* 

2% 

6* 

11* 

15* 

5* 

W* 

15% 

37* 

SS 

37* 

20* 

27 

13 

19 

23* 

25* 

13* 

15% 

7* 

39* 


10 DBA 
2% DDI 
6* DEP 
4* DSC 

20* DobnrSv 
21* DotofF 
4Vb DmnBIO 
83 Don GO 
12 * Oatcrds 

11 CWsqi 
2* Dtasin 
4 * Datum 
4% Demon 

10% DebShs 
9% DecJsD 
20* OeUhA 

B DeHcui 
DenaUr 
4% OentMd 
8* MaePr 
Z* Dlwonc 
10 Dieaon 
3* Dkanw) 
12* DbjlCm 
22* Dtonex 
17% DlrGal 
24* DomB 

12* DiW 
17* DOVlDB 
9* Dranlz 
10* Drssdr 
12_ DtfavGr 
14% DunfcDs 
9* Dvrtrwi 
9* DurPlI s 
3* Dyncn 
17* DvntchC 


37 

211 

S3 

9388 

1ID4 

164 

196 

.13 .1 2 

M 1.1 103 

20a 
1390 
11 
12 
M 

- 62 
JO J 929 
1583 

32 Z3 515 
62 
SO 
3W 
1 

1523 

2 

123 

144 

13 

JO 3 <06 
1J2 IB 44 
200 U 110 
JB 67 2«1 
.158 15 14 

143 

at ijo ui 

56 43 211 
.15 12 m 

93 




Sokaln 

ON. YU root HU 


Net 

Low 3 pm. QiVe 


21* 

16* 


11 EvnSut 
7* Exovtr 


19% 19% 19* 

12* 12* 12*— M 


22* 

71% 

23* 

7% 

17* 

34* 

65* 

38*4 

5% 

* 

17* 

37% 

34* 

27* 

29% 

9% 

19* 

23% 

26* 

29% 

24% 

32% 

4H 

<6 

43% 

98 

31 

29* 

38* 

45% 

8* 

U* 

22 * 

42% 

19* 

17* 

8* 

20* 

20% 

34* 

24% 

23% 

3* 

W* 

7% 

29% 

13% 

16* 


» FDP 5 

5* FM 727 

1% FomRast 70 

10* FarmF 141 

47* FrmC US 26 1198 
13 FoSGps 813 

3* FbRaria 393 

7* Fftront 115 

21* Fdhfa-S 132 41 47 

36 FHIhTs 160 25 5 

zit6 Ftoata M 17 in 

3% Flnntco JB S3 134 
486 Rnemx 593 

8* Flnioon 314 

21* FAhiflk 132 3J 246 
25* RAF* JO 24 14 

16* FtATna .94 28 129 
30% FCotnrC 130 53 86 

6* FtCont lJOelSJ 114 
11 F^K 2150 

8* FFCal • - 13 

14* FFRM JOB 1 J 180 
13 FtFnCP JO 25 6 

TO* FtFnM S 121 

21* FtFlBk 64 13 110 
28% FJfarti IJO *2 228 
30 FMSB US 33 33 

24* FWOnBlJO 16 16 

26 FRBGO UB 23 28 

19% PtSvFta JOB 27 370 
18% F54KC 1.18 55 1543 
19% FToma 281 

32 FatUnC 134 IS _U7 


1 Ftatev 
18* Flwcatl 
15% FlaFai 
271b FtaMFl 
8 Flows s 
IBb Flurocb 
3 Fonar h 
12% FUan A 
13% FLlonB 
25% For Am 


At 36 9 

JS 1J 940 

JO 15 23 

3. 

2825 

m a t2 

J7 3 17 

36 30 8 


13% ForettO IJO 65 2S2 
14% ForlnF 14 

UV FortnS 474 

6 Forum Jib A 4872 
4 Foster .10 26 172 

’ftassr - M 5 

1ZM FutfHB 33 20 1005 


12* 

14% 

11 * 

75% 

10 

7% 

« 

24* 

20 * 

18* 

25% 

18* 

19* 

9% 

14* 

7% 

24% 

mb 

18% 

19 

15% 


M GTS 
9% GaEBao 
4% GomoB .10 ' 
31* MiWtdi 
5 Canals 

1* GOWK 

9* GaFBk 
3* Gar IMS 
16 BtaSl 34 
13* G too TV 
12* Colon 
10% Gaft 

14* Golwp Jb ■ 
io% Oran 64 : 

A Grcmtra 
5% Gmhl > 

4 GmhSc 
73* GWSav 68r 
I GtSoFd 
10 Gtcctl 
12% CtHHnl 35a 
* GtfBdc ISLOOc 



iSJi»ia=a 

5»— * 
40% — * 

25*— * 
„ 4* + * 

20* 19% 19% — % 
14 UM 14 + U 
18* UU IB* + * 
25 24% 25 + % 

17* 17* 17* + M 
19% 19* 19*— * 
9* .Wb 9* + * 
14* 14* 14*—* 

5* 8% 6% 

25% 24% 25% +1* 

19* IB* iSfa + * 


24* 

11 % 

17% 

7* 

3% 


10 * 

10 

B 

4* 

21 % 

24* 

8* 

37% 

3t% 

24% 

13% 

12 

32* 

10* 

20% 

4% 

33* 

28% 

14* 

27% 

38* 

14% 

9 


15* HBO 

7 HOC 
8% Habers 
3% Hades 

13* HamSfl 
26* HrtfNt 
6 Hattiws 
Mb HawkB 
1% HHhln 
1* HltMvn 
15* HdwAS 
15* HChoBl 

31* HetmlF 
17* HBMfCP 
9 Hkkgm 
3* Hoaan 

13 HmFAz 
1 HmacfT 

U% Haalod 
3* Honlntf 
15 HwBHJ 
20 HunUB 
8* Hntgln 
17 HntsBB 

14 Hvbrtlc 
4% Hyponx 
S% HyiakM 


J0 

U 

2895 

16% 

66 

3 

44 

9 



73 

UM 



39 

8* 



Wll 

2% 

.10 

S 

3549 

mb 

L72 

5.1 

504 

34* 


22 

43 

9* 

.141 


296 

3* 


20 

1% 



1749 

3% 

.16 

3 

230 

17* 

68 

A 

77 

19 



119 

3% 



7 

19* 

S2a 

26 

49 

33% 

100b 

A3 

370 

23 



19 

11* 



1407 

6% 



I 

32* 



540 

1* 

64 

23 

237 

28* 



TO3 

«* 



58 

31 

JOe 

J 

3 

27* 



235 

12 

M 

XI 

91 

27* 



1861 

am 



49 

in 



195 

7% 


22* 


16* 

a% + * 
16% 

H =1 

3* + * 
TW + * 
3*—* 
17* +% 
19 + % 

3*— * 
19*— * 
33 —1 
23 +» 

2BM + * 
4% 

31 + * 

27% — * 
13 +* 

29% + % 

T-n 



29 + * 
11* 

12M— * 
10 


15% 9* J 8fl*fS .16 16 275 


BU 3* Jackpot 
41% 28 JadcLfa- 
25% 15* JotnWtr 
8% 4% JatMart 
24* u* jerks 
7% 3* Jotilcbl 
W* A* Joaptwi 
29* P* Junea 
20* 13% JusHn 


69 
79 
167 

54 

3 1165 
» 
290 
235 

60 23 Ml 


M 


72* >1% 
6* £* 
48* 40 
23* 23 
4* 40b 
22 % 22 % 
A* 6 
0% 8* 
23* 23* 
1B% 17% 


11*— N 
4% — Ms 
40 

23* + % 
49b— * 
22% + * 

I* + 4b 
23*—% 
17%- * 


34* 13* KLAs 
9 4% KVPtir 

26* U% Kanvns 64 

19% 13* KartW 

17% 9% KBBter 351 
lOW 6% Koydon . _ 
64% 42 Kama IJO 


1J 


17 Month 
Htofi Low Stock 


Saks la 

Dtv. YUL * HWi 


Law J PAL diVe 



KyCnLt 1J0 1J 95 
27 
245 
loo 

JA J SA7 

Krnv M -7 182k 

KruBcr 56 26 MB 

Kufcka .121 U 487 


56% 56% 
6* 6% 
10* 9* 
2% 2 
18* 18% 
9 B* 
M% raw 
12% 11% 


56* + % 
6% 

9% 

3 — % 
18% 

8% 

U*i + * 
12 *— * 


11% 5% 
24% 9% 

21* 9% 
21% 9% 

54 33% 

254b 129b 
18 * 11 
17 12* 

17% 14% 
59% 36% 
32 JO* 
79b -4% 
15* 8% 

F 2% 

3% 1% 

24% 17% 
48 41* 

8* 44fa 
20% 114b 
38% 19* 
37 20% 

6* 4* 
49* 23* 
29 20% 

33% 15% 
21% 19 
19% 4 


LDBmfc 

LSI Loo 

LTX 

LaPetos 

LoZBv 

Lad Pm 

Latdlw 

LnmaT 

Laocast 

LoneCo 

Umfaif 

cmDto ' 

Lot nor 

LevrttP 

Lax lean 

LexMto 

UefirT 

Lflnvs 

LfaCom 

UlvTuI 

UnBrd 

LfaeTal 

Undoro 

LteCla 

LonoF 

Lotus 

Limdan 

Lyphaa 




-28b 3J 


50 1J 

Z2D il 
.16 3.1 
25 J 
160 SO 


418 

6* 

4* 

6% 

+ 

U 

1096 

22% 

21* 

22% 


* 

137 

n 

12% 

12% 


% 

108 

19* 

19* 

19* 

+ 

* 

41 

S3* 

53 

SI 



270 

25% 

25* 

25% 

+ 

% 

271 

16 

15* 

U 

+ 

* 

10x 

13% 

13% 

13% 



3S 

17* 

17% 

17% 



41 

57% 

57* 

57* 

— 


14 

23 

27* 

27* 

— 

* 

383" 

" 5* 

5% 

•5* 

+ 

* 

67 

9% 

9* 

9* 

— ■ 

% 

22 

7% 

7% 

7% 



* 

352 

2% 

2fj» 

a* 



* 

Jot 

2* 

2* 

3* 

+ 

* 

113 

25 

34 

24* 

+ 

% 

4 

47* 

47* 

47* 

— 

* 

816 

a* 

8 

8 



951 

16% 

16* 

16* 

+ 

* 

S46 

36% 

36% 

38% 

+ 

* 

If 

37 

36% 

36* 



42 

5* 

5 

5* 

+ 

* 

649 

45 

44% 

44% 


% 

S2 

38% 

28% 

2m 

mm 

M 

1538 

22* 

21% 

22* 

+ 

* 

10 

22* 

22* 

22* 

mi 

* 

1390 

17% 

17% 

17% 

+ 

M 


M 













■ T'Cr 

















P-i. 


1 rn'L 




■ hr 


















H (' ■ 





Hr ’M H 

H - . . 








- ' . |.i r ■ 

P- J 


















h F 1 '] 





i'- rv-iM 








w' 












r^rm 








|K 











H- 1. . . 









T‘ 1 


W^rm m 















T f ,i< 1 









mCim 



"y 1 .i^sn'H 





r ’ ■ 





HI . 




H H 







» 4 - 






■ L 

[ v- n 






1- 

i ■ ■ '* 






V^iivl 








If*] 




J. ' M ^ ^ 






L - - . •* ■ 






•y, 7. 













W ^'l 






















P. V7T1 



IP- - -H 






L’i 


L* 7.' j 




p/r *' 





H- * ■ 





















P' ' I 



B flf 



w 













• • M 


r 'i^l 

fc-Z.yr' y'. i'IPw* 



H- 



PI 












n 






Wtl' 1 





.7* 


a* 

94b 


is* 


60 

am 

21 

31% 

+ 

% 

8* 

29 

180 

s* 

24* 

£* 

8* 

24 

— 

a 

8 

20 

123 

16* 

15% 

16 


* 

Mb 

124 

11* 

11 

11 

— 

* 

15 

69 

2250 

10 

64* 

9% 

63% 

64* 

+ 

M 

lb 

17% 

4% 


9 2* NCA Co 

«% 29b NWS 

11% 5% Nopcos 
22* 16* NBnTox 
SPA 37 NttCtV 
21% 12% Ntcptri 
16W 7% NDota 
12 NHHCi 
4* NtLumb 
2 NMlcrn 
1 % Nouakt 
6 NotsnT 
4% N olson 
. _ 4% NwkSec 
S7W 14* NtWKSs 
42 21 Nautros 

12* 7* NBnmS 

34 23* NE BuS 

33* 19% NHmoB 


36 

74b 

5% 

7W 

a 

u% 

9% 


36 

21% NJtofl 

1.12b 3.1 

10* 

9* NwidBk 

.108 

6 

30* 

18 Newpt 

JD6 

2 

14* 

1% NwpFh 



4% 

% NlColg 



14% 

7 NlleeB 

60 

20 

31* 

15 Nordsn 

68 

AO 


22 

47 

39 

JB 34 97 

2J0 O 644 
JO i 1309 
64 17 365 
54 U 51 
1D0 
947 

.151 339 

591 
545 
2403 
10 

JS u ® 
JO 23 ISA 
168 

£ 
2456 
410 


52% 26% Nordstr 

574b 30% NrafeBS 

B 5* N orator 
94b 5 NAHin 
19* 6W Nostkv 
20% 15* NwNG 
36* 19W NwNLf ... ._ 

249b 19* NwjtPS 220 9J 

63* 40* NOK9JI 1-03 1J 

7 0% NucfPh 

9% 4W Nutnrax 
19* 109b Nutnre i 
ID* 6% NlrtrlF 
13% 6W MuMeds 


. ll 
.9 IMS 

A 5B9 
199 
94 

312 
62 
65 
140 
152 

56 XI ioi 
11 
349 


64 

-22J 


1-52 ELI 
JO 3J 


3 2 % 

496 4* 
11% 10% 

SliSK 
22 21 % 
15* 4* 
18% IB* 
5 4% 

3% 3 

4% t’A 

5* 6* 

7* AW 
4% 4* 

34* 2Z% 
40 39* 

«b 9% 
30* are. 
29% 2W* 
35% 35* 

sn 7 * 

13* 13* 
18 17 

»* «* 
53* 53% 
Mb AW 
7* 7* 
lB4b 10% 
19* 18% 
25% 25* 
24* 24 
83* 63* 
6* t 
5% 5% 
IB* 4* 

9% 9% 

7* 7 


2% 

4* 

11% + * 
21% + % 
48% + 4b 
22 + * 
16* 

18% — * 


4* 

4%- * 
7% + % 
4% + * 
23*— 1 
39*— 1* 
9% + * 
30*+ * 
29%— * 
3S%— % 
17* 

20 * + * 
13 —a 
w— * 
» + * 
17 —1 
49 
S3* 


7* 

18* 


24 

83* 

« -« 
5W+ * 
18* + * 
9% 

7* +* 



64 

2 

1% 

2 

+ 

% 

52 

13 

11* 

11* 

— 

% 

389 

41* 

41* 

41* 



125 

70* 

49% 

69% 

— 

* 

73 

36 

34* 

34* 

— 

U> 

39x 

34* 

34 

34* 



44 

21% 

21* 

21% 

+ 


90 

32 

31% 

31% 


% 

12 

8% 

0 . 

8% 

+ 


111 

13% 

13* 

13% 

— 

* 

198 

30* 


h'iL f 1 

+ 

% 

123 

14 

14 

14 



558 

7% 

7 

7 



298 

6* 


8* 

+ 

» 

19 

15 

14* 

14% 


% 


34* 

33% 

34% 

+ 

* 

7 

10* 

10% 

10* 

+ 

% 

1712* 

17 

16% 

17 

+ 

% 

304 

% 

% 

* 




12 Month 
Writ Law Stock 


Sam In 

YU Mb MMI Low 1 


Nat 
PAL Qifae 


r - 




P 




IPtn 


1J2 

if 

IBM 

34* 

33% 

34* + * 

i t-fi 


IJ0O36 

97 

45% 

A5* 

45% 


8 PacPH 



334 

ID* 

in 

10 — * 

16 

11* PocTel 

Jffl 

52 

37 

15% 

IS* 

15*— * 

17* 

ID* PocoPh 



138 



17 

8* 


.13 

16 

1817 

8% 

8 

8% 4- % 

17<A 

11* PorfcOh 

60 

5.1 

229 

12 

11% 

11% 

a 

4* PomiM 



849 

7* 

7% 

7* + * 

14 

6 PmslHr 

1 


93 

14 


13*— * 

IBB 




72 

20% 


20% + * 





142 

13% 

12* 

12* 

10* 

5* PeoGM 

06 

J 

358 

7% 


7* 


35% FenoEn 
30* Pentors 

3.30 

66 

11 

33* 

32* 

30*— % 


68 

23 

168 

30 

39 

30 +1 

15% 

7% PeonEx 

Mi 

5 

2677 

8% 

8% 

8* + * 


23% Petrtto 

1.12 

A2 

124 

27 

36* 

26%— * 

13* 

4* Phrtnct 



349 

8* 


7% — % 

| ■ 1 

7* PSF5 

.158 15 

4754 

10% 


10* + * 

■BU 

BT7T. ■ 

JOe 25 

1354 

20 

19% 

19% 

I 4* 





3* 

3* 

3* + * 





534 

32* 

31% 

31% + * 

INI 

■njljpyr.l 

JO 

23 

13 

25* 

25% 

25% 


29* PlanHl 

104 

23 

605 

35* 

45* 

35* 

18 

7 PlonSl 

.13 

IJ 

33 

9% 

9* 

9% 






12 

11* 

11*— * 

34* 

16* Plcywa 



459 

20% 

20* 

20*- * 

■ ■ .1 

21 Pure* 



78 

25 

24* 

24* — % 

3% 

1% Powell 



BQ 

1% 

1% 



9* Pawrtoi 



20 


13* 

13*— * 



.12 


45 

13* 

13* 

13*— * 

1 sm 

20 Protest 

A 

99 

29* 

28% 

Jfi*— J* 

IKh 

5 PrpdLa 

3 Prmm 



,576 

3500 

10* 

6% 

6 

10% +1* 
6% + * 

■■n'i 

7* PricCms 


27 

1 

ML 

8 


36* PrlceCo 



891 

65 

64* 

65 + * 

«■ m 





13% 





.16 

A0 

135 

4* 

4 

4 — * 


21* ProgCs 

.12 

6 

33 

44* 

43% 



HHfa PnwlTr 

IJO 100 

77 

11* 


- * 


13% Proven 



25 


IV% 


» 

13* Purl Bn 

AO 

15 

143 

27 

26* 

27 

■ 




i 



1 

15* 

6 QMS 



1365 

9 

a* 

e%— * 

Mb 

3% Quadra 



543 

7%' 

/* 

7% 


9 QuakCs 

2B 

11 

58 

12% 

12* 

13* 

32* 

17* Quantm 



372 

25 

24* 

24% + * 

S% 

2% QuestM 
8* Quixote 



435 

4% 

4% 

4* 

18% 



36 

18* 

a 

18* 

16* 

8 Oiatrn 



1652 

12* 

12 

12*— * 

1 




R 



11 

13* 

5 RAX 

JMc 

.1 

183 

7H 

7% 



13 RP6A 

62 

15 

335 

18* 

17% 


IMUJ 

8% RadSys 



58 

14% 

14* 



7 RodtnT 



63 

9* 

9* 



5% Rodion 




7* 

7* 


7% 

3 Raaen 



43 

3% 

£ 



22* Rolnr , 

LF1 

11 





12* RavEn 

J4 

10 





IB(/1 

1* RadtCr 




1% 

1% 



17* Raadna 




22* 


1 - j 

5* Recoin 



202 

10% 

tito 



25% HadtotL 

64 

21 

27 

30% 

3PVi 


13% 

5* Reaves 



341 

11% 

11* 



4% RocvEI 

JO 

18 

415 

5* 

1& 


18 

11 Raabs 

.12 

.7 

16 

17* 



R. J M 

.16 

U 

114 

9% 

9* 

9* + tfa 





300 

10% 

9% 



11% RestrSv 



133 

19* 

low 


^■rTv 

6% Reutarl 

■lSe U 






19* RoutrH 

J6a 10 



•n 


■ - 


160 

2.9 

115 

1.1 




10% Rhodes 

32 

10 





IB 





7% 



II 1 

13% RIctiEI s 



4 

21* 

21 

2i 

1 ■1.1 



45 





IIlj 

24% RoadSv 

1.10 

12 

848 

34* 

33% 

34* + * 

IB. 1 

11 RobNua 

06 

A 

TOB 

14% 

13* 



8‘b Robvsn 



65 

9% 

9 


28 

16% Rouses 

54 


30 

35* 

25 

25 — * 

■il] 

6% RavPlm 

t 






■M 




331 

3% 

2% 

2%— % 

■ 71 

rTlLliElL’Tl 



31 

11* 

IT* 



11% RvanFs 



356 

22* 

22 

22* + * 




■1 






18 8 SAYInd 

15* 10% SCI Sr 
23* 13 SEI 
11% 5% SFE 

23 16. SRI 

23 Afb Satoafs 
46% 29% Safeco 
15% 7V, SofHIt S 

SO* 7V. St Jude 


,10r 1J 


JOb J 
1-60 3J 


1409 

26 

52 

74 

970 

318 

3 


10* 9% 10* + * 
14% 14 14W + W 

22 % 22 * 22 % + * 

6* 6% 6* 

18% % IB — * 

24% 23 24* +1% 

46 45% 45% + Yb 

11% 11 W 11% + * 



47* StPoul 

300 

18 

106 

79 

78% 

78% 

6% 

2% SaKal 



243 

5* 

iu 

5* ♦ H 

10 

4* SonBnr 



31 

4* 

6* 

6* 

8% 

.5* SotHSv 

.14 

23 

13 

6% 

6* 

6% 

31* 

16* SovnFs 

JBa 2.9 

lBx 

31* 

ESI 

30% — * 

PritJ 

13* SBkPE s 

M 

2.1 

39 

20% 

1l1 

30% + * 

I J 

6* SconOP 



186 

9% 

9% 

9% + * 

IK! 

10% Scontr 



111 

U* 

u 

16* + * 


13* 

20 % 

9* 

8% 

4* 

7* 


M* 8% Scherer 
27* 14% SchbnA 
4% 3% 5cUUc 

6* SdSIt 
6 Set la* 
3% Son Gal 
4% Seagate 
1* SocTm 
1% SEED 

as* i6 seam 

9% 6* Sensor 
16% 10% SvcMer 
25* 17* Svmsts 
27 13% Service 

7% 4* SvcFrct 

19* 129b SovQok 
37% 24* ShrMod 
41% 29* Slwmil 
23 12% Shelby 8 

io* 7 % Signals 
31% 21% Shonevs 
15% 10 ShonEas 
10* 3% Silicon 
17* 9* Silicons 
20* 11% SllkVal 
34* UWSUhaw 

11* .?% sntec 


J3 2J 33 
60b 1JS 203 
75 
480 
519 
160 
2258 

13H 

J5 ^ 1761 
JX A I4Z7 
JO 35 452 
t 9 

36 

.18 J 50 
68 16 2B3 
168 41 38 

.16 3 80 

. 118 
.15 6 234 

a 

205 
136 
7B0 
S3 
29 



17% 

11H Slffipln 

JO 

4J> 

sa 

16* 


15% 

10* Stains 



302 

11% 


18* 

9% Staler i 



97 

17 


12% 

8% 5kto*»r 

08 

J 

119 

10% 

* 

4 

1% SmlthL 



373 

2* 

u 

34 Society 

1J4 

30 

119 

53 


as% 11 % Soctvsv sis 

10* 8% Softech 37 

21% 11% SeftwA 496 

30* TBW SonocPs 6*o 23 341 


14* 19% I3W— * 
27* 26% 27 + * 

4% 4* 4% 

7 6% 6%— % 

7V. 6%— * 

4* 4 4 

6% 6% 6% + % 
2 fib 2 + * 
3* 3* m + * 
23* 21* 21*—* 
9* B% Bib — % 
13 12% 12% + % 

23 22% 22% 

24* 24* 74* + * 
4% 4% «%— * 
18% 10% 18% + * 
35% 35 35*- * 

41* 41% 41* 

fflb 22% 22% + * 

9% 9* 9* 

28* 28% 28W 

12* 12 12* + H 

4% 4% 4% 

14% 14* I4W— * 
15* is 15* + * 
m 23 23* + * 

5% 4% 4% 


18% 17 + * 


2SW 34% 24%— % 

9% ?% 9*— * 
16% 16* U* 

30 29* 30 +* 


KIM 

14* SanrFa 

JOe U 

1» 

16* 

1M 16* 

6* 

3M So Hasp 



99 

4% 

4% 

4* 

33 

XMSthdFn 

52 

« 

113 

31* 

71 

21 

38% 


60 

32 

33 

18% 

IBM 

IBM- * 

9* 

5* Sovran 

.10 

IJ 

113 

6* 

fi 

6% 

31* 

ZM Sovrans US 

4J 

586 

30* 

30 + * 

19* 

»* speedy 



10 

19* 

19* 

19*- * 

38* 

10 Spdran 



349 

24 

23* 

34 + * 


JSJ J 


JO 24 
168 36 


100 

42 

434 ■ 
242 
7 

1368 

Ux 


8% 5% SPAcCll 

18% 13* Sol re 
13 2* StorSur 

B 5 SfofBJd 
30* 20* StonJv 
23* 11% SfdJUUc „ , 

27* 20* Storiiom 1 JO 46 
41* 21% StoSIB I 60 16 10M 
6* SW StoteG JBa 1.1 63 

7% 4* Stoker 
IS* 11* StewS«v 
B% » b Stftel 
23* m Slrohm 
42* 39% struct 8 
24* 15 Strykr 5 
171* 1« Subaru 
BS* 40W SuhrB 
4% 1% Sununa 


74 
77 
162 
595 

.76 1J 248 
236 

228 16 420 
1.92 2J 191 
582 


8* 8* BU 
1SV 15% 15% + * 
» 8* 8* + * 
8* B 8* + * 
38% 29% 29% — * 
IS* 15* 15% + * 
26* 26 26 - * 
37% 37* 37% + * 
4* 4% <% 

6* 6 6% + * 
14* 14* 14* — * 

23 22* 22% 

40% 40 40% + % 

24* 24 24* 

158*155 IS +3* 
83% 83 83 — % 

3 2% 3 + * 


H Alenin 
H ton Law sunk 


Sam* Net 

Dtv. YU. lift HMl Low 3 PJA Cute 


« 

10* 

10% 

4* 

14 

14% 

5% 

14 

26* 

8 

11 % 

27* 


7* SumIHI 
% SunCri 
6* SunMed 
7% SupSLv 

3 Su Orton 
BW SvmbT 
4% Syrhech 
2* 5vnirex 
8* 5VSOMS 
8 SvAsoC 

4 Syailn 
6% Syalirtg 

14% Svatml 


.10 1J 


823 

1338 

937 

24 

118 

68 

385 

702 


8* 




9 

1* . , ... .. 

9% 9% 9% + * 
8* I 1 — * 
3% 3% 3%— * 

10% 10* 10% 

948 >U 8*— I 
5 4% 5 + * 


JO 

16 

52 

14* 

13% 

14* + 

* 


17 

10* 

10 

10 




37 

7% 

7% 

7%— 

* 



43 

ID 

9% 

9% — 

* 

08 

3 

157 

26% 

26* 

26% — 

* 


1 ■ 




EJBi 



HMl 

14 

8 TBC 



130 

11* 

10% 

uu + % 

27* 

13% TCACb 

.16 

i 

3 

2SV1 

35* 

25* 

7* 

3* TacUIvs 


16 

3* 

3* 

3% 

28% 

12% Tandem 



1484 

20* 







1482 

411 

3H 

15 




102 

14* 

U* 

14% 4- % 

22 

9 Teia» 



329 

13 

12% 

12*- * 


21% TlcinA 

t 

301 

35% 

35% 

35% + % 

121b 

4% Tel Plus 





8% 

8% -t- % 

27 

13* Teiecrd 
Tel acts 

32 

IJ 

153 

24* 

23% 

34% 




1440 

21% 

21* 

21% 

4* 

1% TntvW 



397 

1% 


3 

20 

8* Trtabs 



672 

ID* 

10* 

10*— * 


9% Titagni 

01 


741 x 

21 

20% 

20% 


3 TannDt 

t 

152 

3* 


3 

■ ill 




248 

6 

5% 

6 + * 

PjTI 

16 ThrdJil 3 

64 

25 

29 

26 

25% 

26 + lb 





187 

7 

6U 

69b — * 


s* TinMiTr 



X 

6% 

6% 

6% — % 


3% TlmeEn 



4 

3* 

3*— * 

15% 

9* T me Fib 



227 

15* 

15 

15* „ 

2 

30 

* Horary 
8* TollS VS 



106 

4 

% 

28 

Z7ll 

%— * 
27% — % 

ft/j 








■TT71 

6* TrkMSv 



199 

10 

9% 

9% 

39* 

20 Truuo 

60 

15 

M 

36 Vi 

26 

26 — % 

r~ 




u 



1 

27* 

18 USLICs 

JO 

30 

60 

27* 

37 

27 — % 

34* 

13% UTL 



J 

16% 

16% 

16* + * 


5 Ultrav 

04* 

3 

9 

8% 

8% — % 





2525 

13* 

13* 

13% 


7% Until 



138 

14% 

14* 

14*— * 


15% UnPInfr 

1091 19 

rj 

27% 

27% 

27% 

V jM 

orti-rn'mii-Tn 

ISO 

2A 

154 

62 

61% 

62 


Ik-, 10. Will ■ 

06 

3 

273 

24* 

24 

24*— * 



.15r U 

80 

9* 

9 

9 — % 


ii't - ■ 

108 

3J 


39 

38% 

28% — % 


6 UFnCrp 



195 

6% 

6* 

6*— * 


11% UFstFd 

JS 

3 

18 

18% 

18% 

18% 



164119.9 

16 

8* 

8 

8% + % 

% 

9* UPresd 
2% us Am 



£ 

10% 

43b 


SM 

32 

22% USBcp 

1.00 

35 

29* 

28% 

28% — % 





73 


4* 


in m 

R'‘<*4-Lv3J 



2* 

2% 

2% 

2% — * 


05 

J 

5840 

17% 

16* 

17% + * 


3* US Shell 

.12 

30 

18 

4 

4 

4 


14* USSvr 

60r 25 

307 

16* 

15% 

15% — % 


25* US Trs 

IJO 

20 

67 

42* 



■ ^ 


J4 





22 

H - j ~1 

15% UnTetev 



24% 

24* 

24* 

H ■ t' ■ 

33% UVoSa 

144 

35 

194 

47* 

46% 

47 + * 





471 

22 

21* 

21% + * 





427 

13 

12% 

12% 

■ftd 


07« 

3 

109 

II 

10% 

10% — % 

6* 

KLIUi 

J8 

55 

358 

5* 

5 

5* + % 

| 




V 



1 

9% 

5* VLl 



240 

5tb 

5* 

5*— % 





307 

15 

M% 


11% 

39b VMX 



162 

5* 

5% 

5% 

11% 

7* VSE 

.140 15 

7 

ID* 

10* 

TO* 

20% 

A ValldLs 



vraa 

9 

8* 

9 + % 

22% 

8* VolFSL 



. 37 

19* 

R 

19*— * 


27 ValNH 

1J3 

35 

1*40 

38% 

38% + % 


19% VoILn 
11* VonOus 


15 



27% 


!»% 

M 

20 

123 

19% 

JWi 

19% 


41. Van tell 





5* 


6% 

2% Venire* 



945 

5* 

5 

5* 

28% 

13% VICDTP 

.134 

6 

227 

» 

19% 

19% 



■22B 30 


7*. 

7% 


16* 

9* VI kino 



25 

16* 

15% 

15% 






»% 

19% 



5% Vodovt 



142 

8 

/* 

7*— % 

22 

14* Volt Ini 



492 

19* 

19 

19 




w 



1 


17% WD 40 

.96 

46 

88 

23* 

31% 

31% 


10 WalbCs 

J4 

15 

254 

16% 

16* 

16% — % 

13* 

5% WlkrTel 



69 

9% 

9* 

9* 

»;£■ 

18% WshE 

IJ* 

13 

349 

22* 

22% 

23* 


16% WFSLS 

60 

2.1 

176 

28% 

HiTl 

28% +1 

Hi LI 

10% WMSB 



1558 

It* 

15* 

16% + % 






7% 

7% 

7% 

■TZj 

10* Webb 

60 

30 

362 

12* 

12* 

12% 

■TZ1 

8% WestFn 
5* WstFSL 



39 

17* 


17 — * 




152 

17 

ULl 

16*— * 


5% WMtoTC 




S* 

8* 

8% — * 


6* WtT AS 



230 

17* 

16% 

16% — * 

KTHH 


60 

20 

57 

21 

20% 

20% — % 


Irvl’l'rrf-rl 



275 

Ulfa 

■ 1% 

11*— * 

IV'I 

riainUMi 

JO 

26 

180 

37% 

37% 

37H— % 


3 wicaf 





4% 

4% + % 

13% 

3 Wldam 



3% 

3* 

3ft 

CviTB 


165 

20 

50 

49* 



7% WlllAL 



19IB 

15* 


14% — % 

19 

8% Wrrnsn 



8 

18* 

■8* 

IBft 

■ T. 

4* wllsnF 



273 

5% 

5% 

5%— * 


•■i iTM 

J3I 


w 

5% 

s% 

5*-* 


P* 1 , 1,1 

40 

40 

16% 

15 

15 —1% 

u rsm 

11* Woodhd 

60 

46 

45 

13* 

13 

13 

20 

14 V/grtha s 

64 

20 

238 

20% 

19% 

20 + * 

9% 

AM Writer 

.158 

IJ 

a 

8* 

8 

8* + % 



JO 

16 

68 

72 

21* 

22 + * 

rS 




( 



| 

*% 

1 % xebec 



1267 

2* 

1% 

l 1 *- * 

13% 

5% Xicor 



400 

9% 

m 

8W— * 

17% 

10* Xktox 



1072 

14* 

73% 

14 



SI 



■Ml 

m 

Mil 

27% 

14* nowFs 

54 

IJ 2547 

28 

27% 

27% + U 




1 







mvl 









T -z ™ 





ill 








Vi _ ^0 












25% 26 + % 


2% 

8 


2% 

6 


Sotos ffouras are unofficial Yearly tiUdu and lows refioet 
ihepnwtous n weeks olun [the current week, but not the latest 
Irodlng dov. Where a split or stock dlvMend amounllng to 25 
percent or more has Men paid, ihe year's hlolvtow ronae and 

dividend are shown far the new nock only. Unless amenvhe 

notaSratM of (ttvldends ore annuol disbursements based on 

ItW WiW* WWtptUIL 

a - dtoWMMMso extratsj.b- annual rate of dtvktond nhia 
stock dtvktond. c— ddutdoflns dividend, cfd— cottod. d— 
newyeortv low. e— dividend doctored or paid In preceding 12 

monlta. b — m Wdend In Canarian funds, cubiect to 15% 

ngihresIdancA tax. I— dhrbtond dedored otter spIII-ub or 
stock dividend, -dividend paid this year, amltteOdetomS 
nrnoaciton taken m taieri. dividend meatlna. k=.fflJBSS 

declared or fold Ihh year, on acamwlallve taeue with dlvl- 

den aslnantoara.n — new Issue In the post 52 weeks.Thehtolv 

i£SI naoo ?,5S 9b “ S2P m . s,art Oi main s. no—noxt am 
delivery. P /E — .p rh»-onmtn« ratio, r— tflvldend declared 
or paid in precedlna 13 monms. rius stock dhriaencLs — steck 
split. Dividend beams with date ot sou*, ris — sates, t— dim- 
dend PoW to , Stock m ***£» 12 menths. orilmated o^i 
valua on e«4ljykto nclor.eiMtislributlen dole, u- new vaoHv 
hlen. v — trading halted vl— In bankruolcvar receivership 
or betna rmacMied under the Bankruptcy Act, erseeur Hies 
«swned by such companies, wtt— when fflstrtbutea wl— 
when Iwtod ww — with warrants, x— ex^ivfdend or ex- 
b'-dlstrlbutlen. *w— witnout warrants, y 

ox -dividend and soles In TOIL vld — vtokL z— sain In ML 


































Page 16 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 11, 1985 



r PEANUTS 


ACROSS 


1 Room in a casa 
5 Masticate 
9 French female 
friends 

14 Armed Forces 
acronym 

15 Word with 
prim or tea 

16 Strong suit 

17 IU. race track 

19 Laissez 

20 Presidential 
nickname 

21 First-rate 

22 Car component 

23 Cleft city 

25 Golf-drive 

disaster 

27 Designer 
Cassini 

29 Force oneself 
upon 

33N.Y. race 
track 

37 Depression 
meas. 

38 Chinese 
seaport 

39 Bard's before 

40 Kin of a via 

41 Dad’s retreat 

42 W.Va. race 
track 

46 German bread 

48 Tibetan oxen 

49 Rancher's rope 

51 Rose high 


55 Meal 
58 Pro 

60 Silkworm 

61 Rosaceous 
plant 

62 Mich, race 
track 

64 Tea type 

65 Swan genus 

66 Suit to 

67 Lock of hair 

68 Quaker 
William 

69 Small masses 


24 Sluggish 

26 Apt 

28 Follows the 
reapers 

36 Golden-rule 
word 

31 Ellen of stage 
fame 

32 Merit 

33 Temporary 
fashions 

34 " a man 



books 


BEETLE BASLE 


ac Wit it.. -All 
you poiesn 

HERE ANPTHlWK 
ABOUT MISS > 
SHJXLEY S 


THAT'S HOT 
REALLY 
W. true 


35 Tot’s taboo 

36 Railroad abbr. 

40“ long way 


42 Social ranks 


1 Hindu term of 
respect 

2 Alert 

3 Kind of berth 

4 Hgt. 

5 RussColumbo 
was one 

6AlHirt's 
companion 
7 Slaves of yore 
8Sma’ 

0 Acts upon 

10 Complainer 

11 Crocus, e.g. 
12Tobe,in 

Toulon 
13 Prophet 
18 Selassie 
22 Punish, in a 
way 


43 Order, old 
style 

44 Oriental 

45 Scandinavian 
toast 

47 S.A. plains 

50 Fanon 

52 Ranch in 
Ferber’s 
“Giant” 

53 Made a gaffe 

54 Levees 

55 Carried away 

56 Always 

57 Lap dag, for 
short 

59 Radio-con- 
trolled bomb 

62 School dance 

63 Pussy foot 



ALTHOUGH, I PD 
REMEMBER ONCE. 
WHEN I WAG REAL 
SICK... 



HER ENTIRE LIFE 
FLASH EP BEFORE 

v my eves 


ANDYCAPP 


WHILE YOU'RE IN THE MOOD* —YOU 
, CAN K19S NOUR BIKE GOODBYE . v* 
* A CARS JllSTSMASHED INTO IT) 
S, , OUTTHERE 


TCH/THE 

MINUTE 

> you -< 

ARRIVE-/ 


C New York Time*, edited by Eugene Maleska. 


DENNIS THE MENACE 


WIZARD of ID 


i vm 

N0T \MfiRAttr IN W&Gtf&tC 


ISRAEL: The Partitioned State 

By Amos Perlmutter. 398 pages. Illustrated. 
$ 19.95 . . 

Charles Scribner's Sons, 597 Fifth Avenue. 
New York, N. Y. 10017. 

Reviewed by Herbert Mitgong 

I N Amos Perlmulier’s useful history of Israel 
from the dream at the beginning of the 
century to the reality today, a certain ambiva- 
lence juns through his interpretations- A for- 
mer Israeli official who is now an American 
citizen and university professor, he has an 
insider's view of the political parties and their 
conflicting philosophies; at the same lime he 
vacillates, as if not to offer strong judgments 
that might offend some factions is Israel. 

Writing about the invasion of Lebanon in 
1982, which appeared to turn Israel from Da- 
vid into Goliath in the eyes of many in the 
outside world, Perlmutter says: “It was easy, in 
the United States, to focus on Defense Minis- 
ter And Sharon as an overweight, preening. 
Patton-like v illain conducting a vindictive war 
of conquest and to forget the larger and com- 
plicated issues of the war, which centered 
around perennial Israeli concerns of safety, 
borders and security.” Later, he writes: “The 
blame for the Lebanese war does not rest solely 
with forma - Israeli Defense Minister Ariel 
Sharon; understanding the situation and 
events defies that kind of simplicity. But if 
there is a single person who bears the lion's 
share of the responsibility for the war’s steady 
descent into disaster, it is Sharon.” 

He offers a similar attitude toward the Peace 
Now movement, which for the first time 
brought forth, tens of thousands of Israeli 
antiwar demonstrators. Its leadership included 
many men and women who had fought in all 
the wars up to the divisive adventure in Leba- 
non. The rffecls of Peace Now still reverberate 
in the writings of such keen observers as the 
novelist Amos Oz, who remains on a kibbutz, 
and the journalist Amos Hon, who lives in 
Jerusalem. Strangely, Perlmutter writes: “To- 
day, support for Peace Now comes primarily 
from Jewish liberals and academics in the 
United Slates.” 

He writes with more precision about the 
beginnings of the Zionist struggle over territo- 
ry and statehood. There are facts here for 
readers unfamiliar with the background of Is- 
rael's respected armed forces. Perlmutter 
points out that “the idea of a Jewish military 
trace was transferred to Palestine first with the 
creation of a self-defense society called Ha- 


shnmer ithe _ Watchman) or guards for tarofe 
settlements. . L 

David Ben-Gurion, Israels first prime me? 
istef. emerge* as ihc central pcrwnaJnv m 
-Israel: The Partitioned State. It Ben- 
Gurion who helped organize Hagmwhr-fc 
paramilitary force that replaced 
injo an effective defense ana of the Sodafet 
Zionist nKweir.en!. The author says that the 
relieious Zionists, whose voices arc so prong, 
nem today, arc “latecomers^ the struggle fa- 
sujvUai” end that- m Ben-Gusson's day, ifcere 
were “no religious Ziwust mainuhsis." r It 
providing men perspective on the many Units 

■ -L . nf mrwfem Io-ibI that <L‘ 


providing iuen mi u*c ukuiy anus 

[n the development of modem brad that 
book b most informative. . . . :i 


Herbert \fitear.g is on the staff of The S& 

York Times. - id 


BEST SELLERS 


The !\*w Vocl Ttoo 

This iisf is hivJ .'.l ftTMTS I ryn erne iiun 1000 tooknvf. 
i)unj;liiv ihe Lroial Su:l> tt’ccLsce lu.’ arr m4 onXRxh 

cisiiscsTiiii'f 


FICTION 

Tbs U« 

Wrtk 

1 THE MAMMOTH HITTERS, bv Jean 

NL Aucl _ ' Y •• ‘ J 

2 LAKE WOBEGON DAYS, by OrniKW 

Keillor... 2 IS 

.1 TEXAS. Jjskh ^ Mu±cmj . . .1 9 

4 SECRETS, hv Danielle Sind 4 

5 CONTACT, tv Carl Sog-ic — f 5 

(1 GALAPAGOS In Kelt Vonnejin . . .6 5 

7 WORLD’S F.A1R. in EL Doctam* 9 4 

S THE C’AT WHO Walks THROUGH 

WALLS, bs R-ibcri A HernJcm 12 4. 

n THE ACCIDENTAL rm.TJST.bi Anne - - 
Tvler - . . 7 i.i 

10 THE SECRETS OF HARItt BRIGHT. . F 

bs Jovcph WambaujJi . . || n 

1 1 THE VAMPIRE LEST AT. bv Anne Rjte 10 4 

i: SKELETON CREW 1 . In- Stcrfcen Kmc - 13 2J 

13 THE INVADERS PLAN. hvL Ron Hub- 

hard - - - 14 ? 

14 LLICKY. bv Jackie C--H.ro- — .... .11 fe 

15 WHATS BRED IN THE BONE. b> Reb- 

ertson Dasi& - — J 


NONFICTION 


3? VM&soef&tTAgatrA 

iteWiWMitr Af jl 5£H6«e wkp nutr? 


a l 


PS 



Solution to Previous Puzzle 


REX MORGAN 


1 .'If! if! r'S! w™, 

: '1. i i.'j’iji ill /I:!) 


vflllli 


are you 

GETTING 
OUT A BIT j 
SOCIALLY/ 
MOW/ MR- 
PENlSON*? 


YES — J EVEN TOOK J 
A YOUNG WOMAN TO THE / 
THEATER A COUPLE OF © 
NIGHTS AGO— SOMETHING ? 
I WOULUMT HAVE THOUGHT 5 
.OF taoiWG UNTIL VERY > ? 
RECENTLY ' l 


HAVE B 
YOU £ 
BEEN 
DATING, 
JUST j, 

ONE 

FERSONT 


r YES f SHE'S MUCH J 
YOUNGER THAN I— 
BUT SHE SEEMS TO 
ENJCV MY COMPANY 
ALMOST AS MUCH AS 
t=X I OO HERS' ^ 


AND I HAVE A 
GREAT DEAL OF 
RESPECT FOR 
^ KAY— A 


CDQC3 aaaHB QH00 

dcdd naaniD ohdh 
ODHC] □DiaB[3aQE3Ql3 
□nanaa asadaBa 
□aaaa aan 
QEDHa aaa □□□□□ 
BEaaaaaaan nan 
bedg Haaao Dana 
boo □□HHnasaaa 
DBHna aan aaaaa 
030 BHnan 
□oociaaa Haanan 
HEggsoansD oaaa 
□gbb aanoB aaan 
BEnta Baaas aqaa 


1 YEAGER: An Auiohojriipfi.'.. b\ Chink 

Yesacr and Leo Jarw-i . .. . 

2 IACOCC.A. .\N A L T08IOURAPHY. hy 

Lee laeneea »uh W ilium Vmak 

3 ELVIS AND ME. hv Pr.'-aP; Beaulieu 

Predev anh Sandn H armon 

4 DANCING IN THE LIGHT, hy Sbirtry 

MacLaine — 

5 I NEV'ER PLAYED THE GAME, by 
Howard Co<cH wuh Brier Bocvenue . . 

t ON THE RO AD WITH CHARLES KUR- 
ALT. bv Charles KuraJi 

7 HOUSE, bv Tracy Kidder 

8 ONLY ON'E WOOF, by James Hcraot ... 

9 ANSEL ADAMS, by An.<cl Adams unfa 

Ma/v Sum .Alinder " _ 

10 CHARLES St DIANA, by Ralph G Mar- 

I i FERRARO: M> Swrv, by Geraldine A. 
Fenaro ...... .. 

12 A LIGHT IN THE ATTIC, by Sbcl SI w 

sicin 

13 SHOOT LOW. BOYS — THEY’RE RID- 

ING SHETLAND POMES, by Lewis 
Grizard _ 

14 MADE IN AMERICA, by Pcier Ueber- 
roth with Richard Loin and Amy Quinr. 

15 GODDESS, by Anthony Summer* 


ADVICE. HOW-TO AND MISCELLANEOUS 


1 FIT FOR LIFE, by Harvey Diamond and 

Marilyn Diamond ... . 1 J6 

2 THE BE | HAPPY) ATTTTL'DES. bv Rob- 
ert Schuller _.l 2 5 

3 CALLANETICS. by CalUvn Pinckney with 

Sadie Batson . 3 6 

4 THE FRUGAL GOURMET, bv Jeff 

Smith J 5 34 

5 JANE BRODrS GOOD FOOD BOOK. 

by Jane E Brody _ j. 




BRIDGE 


By Alan Trusoott 



O N the dia gra med deal, a 
strong-dub sequence led 


'No/vwnw l^WlkJAH'MR.WlSWTEtLYA.WE 
NEED A LOT OF SNOW THIS WINTER !* 


GARFIELD 


THAT SCRAMBLE) WORD QAHE 
« by Henri Arnold and Bob Lae 


I HAVE SOME MDRP5 Of WISPOM 
TO HELP YOU BEAT THOSE OLP 
• s BLUES, DUPPV 


EVEN A STOPPED CLOCK 
IS RIGHT TWICE A PAV 


Unscramble these lour Jumbles, 
one letter to each equate, to fonn 
tour ordinary words. 


ALGIE 


/ HE'S GONNA 
GET CRYPTIC 
AGAIN J 


RANGL 





* 0H.GREAT— I'M GOING TO BE 
UP ALL NIGHT FIGURING 
\ THAT ONE OUT g* 


NITMAR 


CORN BO 



V-/ strong-dub sequence led 
easily to the desirable four- 
heart contract The. firat four 
bids woe all artificial, with 
South showing more mid more 
strength and North less and 
less. 

. Two diamonds was a trans- 
fer, and South was happy to 
. accept the threoheart invita- 
tion. South would have been in 
soine jeopardy after a diamond 
lead but would have succeed- 
ed. East would shift to a dub at 
some point andjlouth would 
pby him far one dub honor 
rather thm the spade queen; If 
West held the X-Q of clubs be 
would no doubt have led the 
suit' 


West did not have a clear- 
cut lead and chose a passive 
trump. When East won and 
shifted to a dub, a finesse 
would have put the contract in 
theoretical jeopardy. Instead, 
South guaranteed success by 
taking the dub ace, drawing 
the missing trump and finess- 
ing in spades. When the finesse 
lost the spade suit provided a 
discard for dummy's diamond 


hand, a fit in either major can 
be uncovered. 


NORTH 
*107 4 
" 10 * 7 6 4 J 


WEST (D) 
4 Q 85 2 
7 92 

•: k 10 ? 4 

* Q 92 


EAST 

* 5 J 

7 A 

T 09863 i 

* K 88 53 ■ 


In the replay, South opened 
one spade, using traditional 
methods, and languished in 
that craitracL missing the heart 
fit- Flayers who use a four-card 
mmor style do better to open 
such hands with one heart 
When responder has some- 
thing like the South North 


SOUTH 
A A K J 9 
■ KQJ5 
J 2 

+ A J 10 

B«h 5 ides were vulnerable. The. 


Mdding: 

Wb*i 

North 

East 

Pass 

Pass 

Pass 

PASS 

l : 

Pass 

Pass 

i + 


Pass 

2 


Pass 

3 <r 

Pass 

Pass 

Pass 

Pass 

West led the heart two 


Sowb : 

I * 

1 ^ ‘A 

1 NT/* 

2 ■: 

4 0 


HOW THE SO— 
CALLED* ’’COMING'*' 
GENERATION SPENPS 
MUCH OF ITS TIME. 


Wirid Stock Markets 


Shall tJS «U ■ ’’ ~ 

sf™™. s £ r imw-r i gag* 

g g s a— a 3 ®“* 

TtmmCMl 407 411 hESp^""* i 5? Air (Joe* 

T.l. Graua m 319 HgyySC T-g HJ XoIIraa 

s s-sgsst.. .SK 1 ssaana.. 

MUwi nwMnivw gU| Rb 

UnlMMMA 2SI m NA 2M KubMo . 

Victors m 2 n Kfl. Kyocera 

Woohuorth 528 544 SSiPP'S Matni Ettc jnds 

soars Land Z 2 uaf» emc Warto 

F.T.sW piiniji TSSSS 'gff S 


Via Agence France-Presse Dec. 10 

Ciauag prices in toad cuirmae* unless otherwise indicated. 


Now arrange the circled lettere to 
tom uw surprise answer, as auo- 
oested by the above cartoon. 


Print answer hem: 


Yesterday's 


{Answers tomorrow) 

Jumtyes: CREEL EXUDE MARKUP BURLAP 
Answer A bird he should have thouflht of before he 
was knocked out— DUCK 


WEATHER 


EUROPE 

HIGH 

LOW 


ASIA 

HIGH 

LOW 


c 

F 

C 

F 







Algorvc 

15 

59 

8 

46 

o 






AiU jIbi dura 

7 

45 

5 

4] 

sh 

Belling 

-3 




Altim 

— 

— 

— 

— 

na 


21 




Bar oakum 

13 

a 

S 

*1 

fr 

S&f-ilB 

31 

90 

23 


Brigrode 

13 

55 

3 

37 

ei 

New Delhi 





Berlin 

B 

46 

6 

43 

Q 

Seoul 





Unujth 

7 

*5 

* 


lr 






Bucharest 

3 

37 

1 

34 

n 






Bndagest 

7 

45 

2 

36 

0 

Toteei 

20 

68 

16 


COBOateffiSMi 

6 

43 

3 

37 

r 

Tokyo 




37 

Cotta Del sal 









Dublin 

8 

46 

0 

32 


AFRICA 





Edinburgh 

Florence 

1 

9 

34 

48 


25 

0 

Algiers 

Cairo 

Cana Town 
Casablanca 
Hararg 

Loons 

Nairobi 

Tunis 

15 

99 

9 

48 

FranMerl 

Geneva 

Hetatakl 

Istanbul 

8 

8 

46 
*6 
30 ■ 

5 

3 

11 

41 

37 

12 

d 

tr 

g 

20 

M 

60 

75 

14 

te 

57 

61 

t-asPobmu 

Lisbon 

London 

21 

12 

5 

70 

54 

41 

16 

9 

2 

61 

48 

36 

el 

0 

0 

5 

20 

73 

68 

13 

9 

» 

48 


ABN 

ACF Ho Ming 

Aegon 

Atom 

Ahold 

Amev 

A’Dorn Rutabor 
Amro Bank 
BVG 

BiwbrniamT 

Co land Hide 

Etnovler-HDU 

Fokker 

GtetBrocoon 

HomeJum 

Hoonuvons 

KLM 

Naorden . 
Nat Nader 
-NodHovd 

■ sooecu 
ffodomcn 
RoUnce 
Rerento 

KT 

VtmOmnertn 


KpuM 33G 

Kloacfcner n-d 30fl 

KkiecknerVftrta Mso 

issr staw s 

asr” s 

Mmewnonn 2»i ,m 
Muencti Rueck 23S0 

Nlxdorf sSt 

PKI . m 

Poradw 1270 

?g 

rwe ieue 

Rtwlnmetedi 511 

Schertng <m 

I £Un S£ 

5K“ "3 

Volkswogenwerlc 405 
WMkl 73S 


GFSA 

Harmony 

HWdSbl 

KtOOf 

Ncdranfc 

Prmstevn 

Rusplat 
SA Brews 

St Helena 


l -^ Wgarto D", JQ | ^ 

GmaBm.aodsvio.AP >SonSSSl 

tote* stock HMi U*. Ckto Ow 

. Sk SB ^M A w' 


F.T.M Mn : insjg 
PimMiliM 


F.T4aU» 
P rev to n : 


&TES2* fS SS MiS*5d5iS. 

SLI2SL_ £5 MywwMiiM 

ktaMtoS OtoMW • tae ja Mitsubishi H«ivy 

UOB US 334 Mitsubishi Corp . 

gJtoTtototo. totes; Mf.M JJjg|*Sft C0 
prevtoH -44M» :• Mttauml 

I • NEC 

NGKInsuMora ■ 

I , NlMtoSec 

I I Ntepon KoeaKu 

I ^ I- Nippon oil 

AGA 141 NjQ. mJESDS"* 

Lav°l . »* » 5S22ST 

S-'na SZ SK 

. in IS Isr 

EMCtimuX 175 175 SSI 

jggg" 2“ I ” §*£» . 

I^ Si u eo n to t . 2?S m ShJnotsu-CItonlenl 

SSbSSSSu « S ^homoBofik 

sSSSS™^ So Swnttamo Owm . 

SkSrato 'ift m 

SKF 257 3(7 

SwetfMiMatdi . 214 ZB rSSLTSS-. 

«*» ®0 ISgStW 

Aftesntotoajltoto:^. ™K,. 


MS am Mil 


MIlsubtattH 
MltsabteM I 


SSS5^B ,te:l7M ’ M 


AHP£BS Own index : 
TTevtooi : 2MJ8 


AACotp Sim SUM. 

Alltod-Lvans Ml 3(5 

Anglo Am Gatd W *57 
ASS Brit Foods 2(0 3 U 

AisDalrtes 141 ISO 

Barclay* 442 xjt 

Bom 058 (40 

0A.T. 2M m 

Baedimw 341 335 

BICC 3(3 346 

BL 27 2B 

BltwOrdo SU 305 

BOC Group MB m 

Boot! 2S0 263 

Bo water Indus 31* 320 

BP $41 54( 

BHlHpmsSt 392 410 

Brit Telecom 1M ivs 

Brtt Aerospoos 453 m 


Btwiieb 


Milan 

Mescaw 

Munich 

Mtce 

Oslo 

Porta 

Prague 

Reyklavte 

Rome 

Slsekhalm 

Strasbourg 

Venice 

Vienna 

Warsaw 

Zurich 


LATIN AMERICA 


Buenos Aim 27 SI 11 a 

Corneas 24 79 19 u 

Unto — — — — 

Mexico Otr 23 73 3 41 

RtedeioBblm — 


MIDDLE 


« 43 

EAST 


-1 30 fr 

6 a r 

20 -4 tr 

2 37 H 

6 43 » 

2 36 0 

2 36 to 

3 » e 


NORTH AMERICA 


Ankara — — — — na 

Betret — — — — no 

Damascus — — — — no 

Jerusalem 20 U 11 52 d 

TetAvtv 27 81 14 S7 d 

OCEANIA 


Auckland 21 70 12 54 fr 

Srdney 25 77 it o* r 

d-doudy; fa-toseyf Ir-lalri WwU; 
sh^hgwen; stwsnow: st-starmy. 


Aestoroge 

Allan to 

Basten 

Chicago 

Denver 

Detroit 

Hoeotohi 

Heettan 

Los Anodes 

Miami 

Mlnneapoas 

Mont r eal 

Nassau 

New York 

SanPraadsco 

Seattle 

Toronto 

Washington 


Arted 

Bekoort 

Cackerlii 

Cobaga 

EBES 

GB-InnoHBM 

GBL 

Gewnert 

intarcam 

KredUetbenk 

fetroftno 

ISSS™™" 

t^Lew 

Unerg 


» 00 2(75 

e 8600 
303 

4305 4400 
3850 3855 

I P 

4195 5140 
5600 5730 
2900 2*30 
mg i2i73 
8780 7000 
£« 7140 
0150 BZH 
0030 (0(0 
4740 4995 
5450 5750 
M40 2260 


Bk East Asia 
OwunoKono 
China Ugfit 
Green island 
Mono Seng Bank 

China Gas 
HK Electric 
HK Really A 
HK Hotels 
HK Land 


Hutch Whwnooa 


Vleflle Montaode 5700 sw 




o-overcasl; pc-ccrtfv i 


WEDNESDAYS FORECAST — CHANNEL: SlloM. FRANKFURT: pug., 
Tomp. S— -1 J4I — 301. LONDON: Rain. Temiv. 4—2 (43-341. MADRID- 
Ctoudy. Term*. 10 — 3 (SO— 27). NEW YORK: Cloudy. Temm 9—9 (48—481 
PARIS: Feeav-Temn.4 — 4(43 — 321. ROME: Shormrs. Temp. 14—4(41 —43). 
TEL AVIV: NA. ZURICH: Faoav. Tetna. s — i (41 — »). BANGKOK: Fair, 
fnroP. M— » 1 91—72), HONG KONG: Chjudr. Temp. 28—16 168— 411. 
^lU^.SjhgjerLTe mp. 31-23 (88 - 73). SEOUL: Fair. Tenu*. -7--14 
119— 7I.SINOAPME: ThundorsTOrms. Tamp. 24— 22(79— 731. TOKYO: Fair. 
TtJtnD. S ■— 2 146 — U). 


AEG-Tolefunton 

AllhmsVen 

Alim 

BASF 

Boyer 

Bov Hvno Bank 
Bor Verelnstank 
BBC 

BHF-Benk 

BMW 

C om me r ih ortt 
pail Gununi 
Daimler-Benz 


I gtertsehe Babcock 
Dgulsdio Bank 

gar-"* 

Horaener 


mg S7 J0 
% % 

s « 

SI i5 
m 2» 

49S 484 
347 5(4 

27527X70 
143 144*0 
1104 1139 
43050 428 

210 211 
71450 7HU8 
34350 sism 

345 344 


Inf I aty 
Jardlne 
JanflneSec 
Kowloon Motor 
Miramor Hotel 
New world 
SHK Frogs 
steliix 

Swire PacHIcA 
Taldieuno 
wahKwona 
wjno On Co 
Wlneor 
Worm Inf I 


Briton 
BTR 
Burmati 
Cage Wlraless 
C odOyr y Sctiw 
Owrtercortj 
Commercial U 
Cons Gold 
Courtoukta 
toUMtv 
Da Beers* 
Dtatlliera 
Drlctanteln 

FlSftJS 

PreoSiGed 

GEC 

GaflAcddmf 

Gloaos 

Grand Met 

GRE 

Guinness 

GUS 

H an s o n 

Vtowlwr 

ICI 


213 214 

345 356 

m 281 

590 593 

157 U4 

213 214 

■m 21* 

456 467 

184 184 

ZU ZU 

455 460 

493 493 

S14A 3U3h 

45) 450 

SBRfc SSMfc 

172 172 

780 (94 

257 249 

IS 51/44 1SVH 

341 341 

710 715 

287 290 

437 435 

734 717 


B anco Com m 
OoaVvatm 
Cred rial 
ErWonla 
FarmHote 
Flat 
GeneraH 
IF! 

igatcemenll 

HulmoUllarl 
totonto 
Montotoon 
NBA 
Ollvatft 

Pham 

RAS 

H&iaseenW 
SIP 
SME 
Snkr 
Standa 
Slot 

M1B Cerrent Index ; 1IH 

Pi hiIuw i HH 


AH# Laval 


™«ra"WA S9V5 fid 9M ,n96NuwstspA *a £ SSLL 
59380 Alt Energy S1FN 14*b mV- W. KWH Oakwood St, ■%. ] 5?~ 

28V7SAltn Naf ? ns* IM 15ta ^“OmnibSo 2» 2*1^ J*" 

Si i m isstt 

5066} Bonk K >54 Sit W 4VS0 PanCan P *7 JL. 

6jM6BorttcKP_- 148 143 164 7390 Pbio PWnt S|^~ livC J£2. 


Astro 

KJaST” 

EMrnlux 

Ericsson 


WO _ Canoti 

^ Sates stock 

7290 „SZAMI>rn» 
-•457 TSSUAonlcoE 
1800 2250 Acre rod A 

134 W380 All Energy 

718- 28992 Atto Nat 
490 14m AlncmoSt 

311 U400Ataolt 
4370 . MN BP Canada 
.1228 .5056# Bor* BC 
841 3g*g Bonk NS 
WH .61M6 BCTriCk O 
55 Iri OSB omna R 
342 364295 Btglorne 
346 KmBrjjmotoa 
550 2376WBCFP 
.395 BemBCRas- - 

430 ^OTBCPhonB- 
m 79WBrun«wk 
1239 1590 Budd Can 

903 7*6172 CAE' 
m 233S0CCJ-BI 
1060 10760 Cod Fry 

772 _4HOOCampoog f 
151 ^^CNorWasZ 
338 23500 C Portal 

573 11 00 Con Trurt 

iow we c Tone 


M«85 bS£S* S *0 360 —10 SM% mZll 

MCBBrotain 359 325 340 11440 due Shim a a£t 

k f mi is- • Ha 


Kteft LewOeeoCM* 

£0** 2 OK 2VU+ W 
S MJ# 341*- <1 
2 **— % 

*!*«■ 1ST. ta 

« fS £+* 

Jte 3* 15=2 

280 265 an — • 

M BVJ+H 

•J4» 1380 14 +J0 
19Vk BN. 9 —VS 
^15 XM 3214— « 
*J8 m 17VS . j. 
*!«• 1914 IMk-f# 
KJV. 23%— 3 


*17*# W4 12>+ Vk »» Roman 
2W6 29W— V# , *8? Rrotiman 

<1796 W 16%— VI 14731 SceMre 

g4 Wk 1»=5 W6005cnftvf 

S SS ifte WVjf 1% glSJfMroCan 


*g» ^ »m,+ 5 

«o5 ^WSoumcm, 

flSJJi 10}4 iota . 42231 Spar Agra r 

MW fflft 43 +W 187*53 Styfai A 
sim* km iow. + ^ anoosSS?^ 


Ptnimodo 

Soob-5a»nfa 


IOW wa v. -I owe Slew Wlk lO'A 42250 Spar Agj 

1000 438742 Cl Bk Com «3W 42V5 *3 + W ' 87*53 Stltoi 

um rTm! P f gg* 1£N ltw. ■gosutohio So ' l*o^ rSff“ T ' 

™ 3“ ISSS mStS?" S s S * 

S Si. u* »!®TS;gr* sS wl !T*i 

S 8 'SSgfflSi *S£ ’S '!S 


Prevteos: *43J» 


AlrLtouMs 

AisttiomAtt. 

AvDasaautt 

Boncnlro 

BIC 

Bengraln 


BSN-SD 

Carrefowr 

Choraeurs 

Club Med 

Dortv 

Dumez 

EHSAquItalne 


ACI 

ANZ . 

BHP 

Boral 

BouodnvHt* 
Casttarnakie 
Cotas 
Comma . 
CRA ■ - 
CSR 

Dunlap - . 


Tofckj Marine , - 
Tokvo Elec. Power 
.. Taman PrtoHna 

I Taray ind 
. TaeMba 
Toyota . ■ ■ 

r u ,7 i -Yamaichl Sec- 
4M . 4JS 

U4 840 Nlkktf 228:1289033 
118 Preytans; 1279U3 

149 131 On livUv ■ Ibis rr 


•yy wu>o • 
B» agocetoie se 
*2* S25DCeotri Tr 
3(70 IHNCMw 
WW JCDMA 
366 201800 CIXsQ>Bf 
«21 36608 CTE Bank 

139 2200CommsfA 
214 UgCasefeoR 
909 20(88 Conran A 

726 . *720 Crown* 
4170 SMCzames 
474 25478 Poon Pen 

847 • TOOOaanA 


g7 11* 1114+ 
SI 514 1A 1*14 

*29 2BW 2Sta— 
*11H 11<4 11W 

2214 23 — 

ng ig 

s^-sa- -■ 
TS'&z 

a* 2W 299- +J 


w % SS A S^a 

f J i r r ? 

I MB* ||f,i 

OB., 475 488 +10 *422 T 2S,. *£.. ™ +»? 






s .gt eag : 

« sss s* a*=a JafSffi 5, 

g .MnopunaiAf 88 n, '^Q r 


»10 293 3M +17*. 

“Pi a 2t '* 

Su. *± 


!S M 1S^=2 6*40Q-rJfte A f 31 2S -5 

,1 fi k fcs IS' «SS > HS 

™ 'SUB?* *Sv u H 7 1- s ’L + f 


ft! * ■» prewono ; nmo 
IIS 1J0 Mtaw index : liHAZ 
' - 8 Prayings : 1818*3 

432 6J2 ” ™ 

LM 145 • 


Sa SS 2 s g 57 ’" 

^|^,x j® % issjS 

Eli!! 


UUIMP ». • 

3490 2640 Elders hd 

2820 272S ICI Australia 


Europe 1 
Gan.Eauc 


Magellan 

473 - ess M1M * 

]J2J -lisp Mver ' 

BSD 888 NdtAwtBank 

203 212 fwwsCarp 


Imperial Group 7(4 266 


loflugr 

LandSeeurttlei 
Legal General 
Lloyds Bonk 
Lanrm 


Hang Seag Index ; 172139 
Previous : 172427 


Marks and 5p 


Midland Bra* 
Nai west Bank 
P.OtWO 

Pjikinetoe 

Ptassey 


319 312 

3S S 

f 4(9 

m 

426 

173 180 

513 5U 


vmiKVUA 
t I Hill III 61 II 

nopicne 
LafOTMCOP 
Logrend 
Lrsdeur 
roreal 
Marfell 

Storita M10 2490 

Mctielln DM 1570 

MoetHennmoy 22W 2ig 
Moulinex 7i 7240 


2U 212 Ntw*Cbn> 

MS ■» MBrrtewmu 

7YJ 710 • rvMMjDfl 1 
1351 13a QWCool Trust 


1351 isa QWCooi Trust 
488 572 Santo* 

3459 3453 Ttomnt Nation 
™ m W es t e rn Mhdnn 


U g. p- — — 

Z85 2J8 L 

*■“ . A«o : . 

H.« )saas. : -- 

H a g ^Ty 

J3 InlenflscDunt - 

2 JS sS 

v la ii? Jwntoti 


3459 2653 TBomg Notion US U8 

738 725 Wester n Mbtiia 3.12 lu r* USE 1 *—. 

a»- 27B- WastpocBmtatae 4J8 +58 if2S®,®XL 

sw M» AH Ortato riM Index : 90870 ■ SeSr 
w»9 I57n Provtoes: 98SJI BaDy 


■ 

:: -wpwtft- 

- — r-f 483 GendlsA 

4575 4688 22B0 CtaQCCoiriP 
(7o . 674 asnoibraita' .... 
4200 5175 MfOOGoUcoraf 

18(5 1875 mSBGLForasl 
3640 3550 TM GtFodHc 
WO 9495 10870 Groylmd 
a™ 3508 : 883 H Group A 

3325 3250- . U37HOwfir- .’ 
74*0 7m IMHZHoraD. 

UK UK 1*1 on l_M 


S55 la A*—.** 

^ ^ h +Vk T5E388lnd « 2^3 P SS 

■ . «te Bth— (8 |~ ~ 

^ ™ I n- „l 

S2f IL it^+ £ " — -* v ,l 

^ S* M&ISteMom ™»g,Law ChnrOv: 

22 22«1 11M* BarofcrtrB 52£ J9W13ta+lh 

*I2W 12 ?T_ .. IBHftcn S5T “ si»k Wa iha. 4- u 


«5 420 430 - a! 

Jf£ IS 14 

^ imft + r- 

571* 1 7 TL. + 


PiryJow 

SMtM 


..weo rm imw naves d. 
382S 3(05 14180 Hem Inti 

2235 2240 19480 Hofllngr I 


ss» on 

425 430 


AECI MS 

Anpig Anwknn 38a 

Anglo Am Gold lp» 

Barlows 1300 

Blyvoar 1650 

Bufteis wk 

5* Beer* 1535 

Driefontefn eng 

Stands na 


Prudential 

RooolEtect 


Rondfanteln 

Rank 
Roed inn 
Reuters 


174 17* 

767 767 

156 in 

870 871 

447 452 

692 692 

316 319 


Royal Dutch t *19*41 41/66 
RTZ 514 . 514 


SaatcN 
totostwry 
Sears Hohflnst 


740 730 
372 - 374 
105 109 


HWUINIM 

Occidental* 
Pernod Me 
Perrier 
Peugeot 
Printout as 
Rodlotedm 
Redog Is 
Roussel Ucfaf 
Sanofl 

sktaRasstoni 
Telemocgn _ 
ThonuanCSP 
Total 


CAC index : M7« 
Prevloet : sujo - 


71 7240 

.4 26 428 L'——,' ..B 

47160 466 Akol 

3S2 332.10 ASOMQton 
402 40850 

™ }» jggjgvu 

'SS 'SS? BrJdgostoo# 

®« (71 Cfinon 

1429 1430 CUSiO 
a?48 3665 Sritoh . 

Dai Nippon Prim 
Dolwa House 


Sandsz*. 
Schindler •. • 

1 *_ Subpr . 

I SunrolUanoe. _ 
Sw ta s al r- 
— 1 SBC 

7*0 m 

*72 V0 Union Bank . 

727 ns Winterthur - 

lug ,?* 


USB 1156 
ISO 1820 
M 383 
1290 1290 


SKtonMII 


Z235 2240 1X60O HoHlngr I 

. 5175 SOU 5243 H. Bay Co 
7960 7930 cmiimasoo 
.1350 1350 4B0lntM 
11808 11700 . KHOIngHs 
1705- 1720 moinfawtoas 
mo mo 3QSBN Init Thom 
410- ,470 W300 tutor Ptoo 

.4825 4875 1155 l«CO 

1660 1570 2580 1 vow 0 - 

531 525 MOO -tarrock 

.2190. 2180 IDO Kelsey H . 
2600 2370 1290 Karr M0 

-4980 4970 35343 Lotxltt . 

.9958 3960. '4675 LOnt Coro . 

2500 ; 2(10 6040LooanCL - 
9922 LflCKwrCa 
* 5900 Lunmdes - 
-SnOMDSKA. . 
' . - - 1500 MICC • 

- - -nfStoMdtmtaX- 

«« .an«S5ffla«- 


m iv— u wnocBRur 

life? Mm 


» * ff*.;- m&Sr S giasss 

S£ ISL tKS' S S£ m+Yf 

sg a ■'wassasSi ^ 

a wisest: bss.. 


as ® 8fcs 



W »7- - - 729530 MChxrHX SISVr 16 •' ” 

Full Bonk. 1470 1478 I owlta». rf. owfltrktend.- 3i326«totaonAf BIH m » 


ng4 15ft !»+L' snores. T T "*i 

ss s'* r?* 14 — - — 

■C: 1 ! “ 

DAHYlMThFiMr 


, jr 


















"Sol | 



INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 11, 1985 


Page 17 


SPORTS 




International Herald THbm 
'.'-'•'LONDON' —Two faces of fit- 
'll ; jh childhood confront i is. 
s-.^Dna stares brightly out of the 
<-. ';'»dow of soccer’s tragic year. 

‘'•The other we are not pemotted 
" see and may wish to pcdeod 
ss not erist 

The face we see is pretty in the 
y the young Nadia Comaneci, 
en she snriled, was pretty. It be- 
^gs to 10-year-old Joanne Baron 

Rob Hughes 

■ o, at her first soccer game, ran 
dt into the Bradford stadhxm 
mes last May 11 to save an old 
n. 

loanne laughed at us from the 
‘ nl page of Tuesday’s Times. On 

... ge 2, another photograph re- 
. nded ns of the unforgettable — 
: Bradford inferno that lntied 56 
stators. 

; rfaat toll might easily have dott- 
ed but far the .selfless courage of 
people — from Joanne to a 71- 
J - tr-old pensioner — who were 
nmended Monday night by the 
' a's chief constable. 

Dn Page 3 of the same issue of 
~ e Tunes, a stark headline read: 
slice Told Adults Were Terror- 
d by Girl, 8.” 

■ nw story concerned a child on a 
rth London boosing project said 

"iv. have squirted bleach into the 
s of an 85-year-old readeot 
Hie old lady’s sight has been 
:.-ed, bat neighbors suggest she 

• st not return to her single^ 
boom home where the “evil’’ 8- 

• ■ ir-old had previously stabbed 

■ leg, beaten tier head with wood 
. . . 1 smashed some of her bdong- 
• -0 s. 

rhe three-foot terror apparently 
l . is wild, threatening adults in 
L d language and saying she would 
leash her deg oat them. 

What has that to do with sport? 

> more, no less than the inner- 
'/ h ooliganism that plagnes En- 
$h soccer. 

\ society on the ran from its 
deed children — unable to prose- 
e a minor, unwilling from gov- 
tmeni on down to do more than 
miss them as a tiny minority — 
.. .ters the roots of a violence that 
aches itself to its national game. 

' 1 lo, in the same month as the 
. ldford fire, we are shocked by 

■ Brussels stadium massacre in 

— ich mainly English supporters of 

- 'erpool cause the deaths of 39 

■re spectators. 

England is. thereafter, rightly, 
outcast of European soccer, 
■.—■ s taining the hrmlig an curse at 
ne by massive police pre s ences, 
switching match** that might 

rk dashes of rival gangs, by for- 

-sing stadia. 

rhe wonder is that decent folk, 
xmsfble parents, still consider 


soccer a salable eotenamment to 
which to take their f amflics. That 
some do — and thank heavens for 
them — is the wed's mote npHft- 
ingsUKy. 

rrom the same country that pro- 
duces the hooligan, there is Joanne 
Baron. She received her certificate 
on Monday with a heavily ban- 
daged hand, on winch bum scats 
wiD be with her for life. 

The awards come seven months 
after the evoit because it has taken 
that long far same rescuers, and 
many victims, to be released from 
hospital care. 

Almp«£4 mQfion (about S 10.2 
million) raised for the disaster fund 
will require months and months 
more to be distributed equitably. 
Legal claims, if they are ever com- 
pletely followed through, would 
certainly wipe out the dub. - 

Yet, in a higher division (for May 
1! was a celebration of Bradford 
G ty’s promotion to Division 2% tbe 
team plays its “home" matches on 
other people's grounds. 

Its own miHctanrimg ti struggle is 
a smaQ example of the will to gp on 
and^jes, the bravery to surmount 
uncertainties. 

It is, of course, a different kind of 

Wesf^oricshire Chief Constable 
Colin Sampson to say: 

“I was so proud to see the won- 
derful way that police and public 
alike, with utter disregard for their 
own safety, went back into that 
inferno again and again to pnQ peo- 
ple to safety.** 

Lflre most of the others who were 
cited, Joanne said she did not con- 
sider herself brave at alL She acted 
without thinking. 

Had it been a courageous thing 
to do? “No, not really.** 

Did she consider the danger 
from the flames? “No, not at first 1 
just saw the man." 

Her citation describes bow she 
became separated from her family 
in the main stand. Flames were 
close and thick smoke made 
breathing difficult. 

She was dragged along by the 
crowd and, seeing an opening, 
dashed through. 

At that moment she saw die el- 
derly man fall down steps. She 
climbed over seats and helped him 
to his feet 

But he fe& a gain knocking Jo- 
anne over. Her legs became burned, 
but eventually she dragged the man 
down to a waB. Police pulled him 
and then Joanne onto the soccer 
field. 

Her open if shy mann er indicates 
that Joanne has overcome the expe- 
rience as well as her mother says 
she-has. - 

“We are only just appreciating,” 
Says Kathleen Baron, “the bravery 
she showed. We can't describe how 
we fed. It's almost unbelievable.” 



‘ Cowboy Center Loser at 'Name That Goon 9 


United Press International 

CINCINNATI —Nose tackle 
Hm Knunrie taught Dallas cen- 
a Tom Rafferty a few lessons 
lbout line play Sunday. And a 
ew about phonetics. 

Krumrie dominated the mid-, 
.die as the Cincinnati Bengals 
routed the Cowboys, 50-24, after 
the third-year pro bad bear mo- 
tivated by a pregame talk with 
Coach Sam Wyche, Krumrie was 
told about a Dallas newspaper 
nary that related Rafferty’s at- 
tempts to pronounce the name of 
the man who would be across tbe 
ae from hi m 
“Krunnn,” Rafferty : 
y said. “ . . . Knmnny, 
ner — Tm not sure." 

Krumrie is Moot-2 and 262 


pounds (1.87 meters, 118.8 kilo- 
s); Rafferty, also in his 
I season, is 6-foot-3 and 259. 

Krumrie, who had nine indi- 
vidual tackles, assisted on two 
others, forced one fumble and 
recovered another, looked for his 
tongue-tied opponent after the 
Riverfront Stadium debacle. “I 
was going to say something to 
Rafferty,” said Krumrie, “but be 
went to the locker room. I was 
just going to tell Him my name. 
ton sot a smart aleck — I would 
have just told Urn my name, 
that’s alL” 

But linebacker Glenn Camer- 
on summed it upin the winners’ 
locker room; “Great game on 
Rifferty," he shouted to Krum- 
rieL 



Krumrie: No smart aleck. 



Balance of Talent and Tradition Keeping ACC Strong 


Joanne Baron 

‘ ... 1 just saw the man.' 


one, the other hones of 
fire heard the tmbe- 


One 
the 
Bevable. 

Their citations restore all faith in 
the sharing drat is part of attending 
a sporting occasion, the trust that 
the person standing or sitting bo- 
ride you cares. 

There is Julie Holt, 21, whose 
hair was smoldering as she worked 
to free a boy trapped in a turnstile. 
And her boyfriend. Pan! Menzks, 
who rescued a man bunting from 
the legs op and then retained to 
bdp her out of the stand. Menzies 
later collapsed from smoke inhala- 
tion. 

There is Ronald Woodcock, 71, 
whose coat had shriveled is the 
heat and whose ears and hands 
were burning — bat who battled to 
get an elderly, infirm relative out of 
tbe blaze. 

There are 28 police officers, so 
often the butt of tbe nastiness that 
for too long has been accepted as 
an inevitable part of crowd behav- 
ior, who went through the «mrike 

and file again and ttgnip to il pig nut 
the injured. 

And they are the ones whose acts 
can be documented. 

There are, says the chief consta- 
ble, upward of a hundred others 
whose courage amply cannot be 
detailed or rewarded. 

This is a time to be thankful that 
sport also attracts the better side of 
human nature. 

Thousands of words have been 
written about the bad, thousands 
more wiO have to be written in the 
future. But for once the pages of 
our newspapers have been held up 
to the better face of soccer s up port, 
and for once the tiny minority is 
the one that makes pleasurable 
reading. 


By Barry Jacobs 

Sew York Times Service 

NEW YORK— John Salley had 
proudly worn the baseball cap cefe- 
bratiog his basketball team’s At- 
lantic Coast Conference chaamko- 
ritip as he passed through an 
Atlanta hold lobby and ascended a 
staircase. But as the Georgia Tech 
forward reached the room where a 
press conference was about to be- 
gin, be paused to bareJtis head. 

Salley was under orders from his 
coach, Bobby Cremins, to avoid 
«gfntmg the fact that Tech’s mat- 
chup with Syracuse in last winter’s 
National Collegiate Athletic Asso- 
ciation Tournament was also a 
matdxup between two of the na- 
tion's proudest conferences, the Big 
East and tbe ACG “I guess -he 
didn’t want to see any gas thrown 
on the fire," said SaUey. 

As it turned oct, Tech’s defeat of 
Syracuse was the ottiy ACC tri- 
umph in games against the Big 
East, which went on to place an 
unprecedented three («"»« in the 
tournament's final four. 

Yet even that showing by the Big 
East did not dispel the widely held 
belief that the 33-year-old ACC is 
the pre-eminent college Hagfr^hall 
league, an icqpression bolstered by 
the current news-agency polls. 
Three ACC nwawhere — Tech, 
Noth Carolina and Duke — are 
ranked »T nfm g the top six in the 
nation this week. 

What continues to set the ACC 
apart is a tradition of excellence 
that dates from the league’s found- 
ing in 1954, shortly after North 
Carolina lured Frank McGuire 
from Si John's to co mp e te with 
Everett Case's powerful North Car- 
olina State squad. 

During the last decade, ACC 
teams were ranked , among the top 
20 in the final Associated Press and 
United Press International polls 
more often than *wnn* from any 
other conference. During that 


span, six of the ACCs eight mem- 
bers finished seasons ranked in the 
top 10. No other conference en- 
joyed so thorough a representation. 
And a seventh ACC squad, un- 
ranked North Carohna State, went 
on to win the NCAA title in 1983. 

Over the same period the ACC 
led major conferences in supplying 
first-round National Basketball 
Association draft choices. And 
since the 1974-75 season, when the 
NCAA tournament began allowing 
more than one team per confer- 
ence, only schools currently affili- 
ated with the Big East (founded for 
the 1979-80 season) have appeared 
more often than ACC members. 

Hut’s not to say the ACC fares 
best in head-to-head competition 
with other leagues. 

Big Ten teams have won six of 10 
meetings with ACC squads since 
the NCAA tournament field ex- 
panded, and have won three na- 
tional titles (Indiana, 1976 and 
1981; -Michigan State in 1979) to 
two by the ACC (North Carolina, 
in 1982, and N.G State). The Big 
East, whose members are 8-8 in 
NCAA play against tbe ACC over 
the past 11 seasons, has also won 
two national crowns (Georgetown, 
1984; VBlanova, 1985). 

Dean Smith has coached 25 
years at North Carolina, and in 
1985 he may have his best-ever 
blend of fkxibnity, size, experience 
and depth. The Tar Hods returned 
five starters from last season's 27-9 
team; four stand at least 6-foot- 10 
(2.08 meters). The badmourt is led 
by veterans Steve Hate and Kenny 
Smith *nd by f w ^hman Jeff Lebo, 
last year’s top high school player in 
most rankings. 

Such strength is nothing new. 
North Carolina is the only team in 
the nation to have appeared in the 
NCAA tournament every year 
since 1975. Over the last rune sea- 
sons it has made it to the final three 
times; during that stretch, four oth- 


er ACC representatives appeared 
in the final four, giving the confer- 
ence more such berths than any 
other. 

Meanwhile, within the league it- 
self, competition has quickened, 
with the regular-season race result- 
ing in a tie in three of the past four 
years after only four ties in the 
previous 28 seasons. 

Televised since 1957, -and in an 


area where few strong football 
leans or pro sports compete for fan 
allegiance. ACC basketball per- 
vades public consciousness from 
Maryland south. 

“rye never seen people quite so 
fanatical about their sports." said 
Hale of Carohna, who grew up in 
Oklahoma. 

“It never seems like there's a 
waning of attention,” agreed 



David Henderson, driving for two against Kansas in die NTT find. 


Duke's coach, Mike Krzyzewriri. 
who professes amazement at radio 
call-in shows in July devoted to 
basketball recruiting. 

Raised in such an atmosphere, 
top players in the area rarely stray 
far when deciding where to attend 
college. And ACC excitement and 
tradition remains a key element in 
tbe television marketing of college 
basketball nationwide. 

Duke boasts five players from 
outside tbe region, most notably its 
two 6-8 senior forwards — Mark 
Aiarie of Arizona and Californian 
Jay Silas. All-America guard John- 
ny Dawkins and David Henderson, 
a 6-5 swixigman, Found out a senior 
class that led the Blue Devils past 
Kansas in tbe recent championship 
game of the inaugural preseason 
National Invitation Tournament. 

Before it can challenge for a na- 
tional title. Duke must get past 
ACC rivals North Carolina and 
Georgia Tech, tbe latter the presca- 
son choice in most polls to win the 
NCAA crown. 

But in the early going, while 
Duke flourished in the NIT and 
North Carolina won the Great 
Alaska Shootout, Tech has strug- 
gled. Matched agaiost highly 
ranked Michigan on Nov. 30, the 
Yellow Jackets missed 69 percent 
of their shots, committed 19 turn- 
overs and lost by 5 points. 

“We just played real, real poor- 
ly," said Cremins. “I just think we 
were caught up in the preseason 
trap. I knew the publicity was a 
trap, but it was an unavoidable 
trap." 

The publicity was generated by a 
rise that has been iiule short of 
meteoric. In 1981. tbe year before 
Cremins arrived in Atlanta, Tech 
was 4-23. By last season the Yellow 
Jackets had earned their first ACC 
tournament title and the second 
NCAA bid in school history, de- 
feating Mercer. Syracuse and Illi- 
nois to reach the East regional final 
against Georgetown. 


SCOREBOARD 



Basketball 

n 

College Top 20s 

Selected College Scores NBA Leaders 

NHL Leaders 


Hockey 


petals. racer*, lost «Nk1 wnftm ): 


1. North Carol ino (47) 

441 

1281 


4 MW dan 118) 

48 

1213 


X Duke (4) 

M 

1142 


4 Syracuse 

58 

1100 


& Georgetown 11) 

48 

*54 


(tie) Georgia Tech 

4-1 

VS4 


7. Kansas 

4-1 

918 


4 Oklahoma 

48 

777 


9. Kentucky 

58 

774 


to. Itnoals 

S-l 

414 

12 

1L Louisiana State 

4-0 

413 

11 

O. Moments Stale 

58 

05 

13 

TX Nev^Las Vegas 

5-1 

511 

14 

lASLJOhDY 

4-1 

474 

15 

IS. Louitviiie 

M 

311 

14 

14 Ala -Birmingham 

5-1 

302 

17 

17. Notre [Same 

3-1 

301 

io 

14 Indiana 

3-1 

224 

19 

19. OePatd 

38 

113 

— . 

24 Ohio State 

58 

85 

— 


n» up* mu* e mm 


(flrshetace vales end records/ 
and teal week's ranldaes): 

total potato. 

L North Carolina (30) (48) 

5)0 


Z Michigan (7) (48) 

541 


1 Duke (1) 158) 

4*1 


4 Kansas (4-1) 

382 


i Syracuse <581 

348 


4. Georgia IMi <4-11 

341 


7. Georgetown (4-0) 

311 


L Kentucky 158) 

MO 


9. Oklahoma (48) 

20* 18 

TO. Kevado-Las Vegoe (5-11 

190 

* 

n. mmols C5-D 

170 

12 

12 Louisiana State (48) 

137 

11 

12 SL John's (4-1) 

114 

14 

14. Louisville (3-21 

10* 

13 

15- Memphis State (58) 

102 14 

14. (tie) Moire Dame (5-1) 

55 

13 

14. (He) indtano (2-1) 

55 

3E 

TO. Atobama-Blrmlnaham (5-1) 

51 

T7 

19. Ohla State (58) 

3* 

z 

22 Da Paul (38) 

(Zsm ranked) 

24 

z 


BAST 

Boston U. 86. Mortst Al 
BrWoooort a. Amor Icon Inrt. M 
Brown S3. Koano St S3 
Buffalo n. St. John Fisher 72 
Colombia TO. Lafayette S9 
Dataware to. Loyola, Md. <2 
Georoe Mann IX Monmouth, NJ. 71 
Grove dtv At Often In IS 
H er Wont 7W Vsrmont U, OT 
New England SL New Eiwksnd CoL 69 
NYU 79, Vussar 57 
Ohio U. 7% Hotsfre 46 
Penn Ik La So He so 
Setan HaU 114, Manhattsi <1 
Moaner ifc Stolen Island 51 
Weet Virginia 72. 9t. Jcaenh’e 45 
SOUTH 

Atabomo 99. Murray St. Iff 
Jama Mta dro n TX Maroon SL 3* 

' LsutdanTTech 71 Martha II 71 
Miami Ohio 45. E- Kentucky S3 
South Carolina TO5, Georgia Si. 47 
Vanderbilt 12. Austin Peav 75 
W. Kentucky 14 Middle Tana 74 
Webber 102. Georgia CoL 74 
MIDWEST 

DoPouw M. litt-Pur.-lmM. 42 
Drake 54. St. Louis 44 
III Wesleyan a. Wheaton 73 
Indian St St Butler fa 
Kansas 72. South Alabama fa 
MtamL Fla. 47. Wto^raen Bov 43 
Mkhfaon 79. CNcogo SL S3 
Missouri ft. W. Illinois 44 
Notre Dame 72, Oregon 43 
Pllfaburg St. 75, Mid-Am M aaore n o 47 
Purdue 84, 5. iHtnots 47 
S. Dakota SI 7X Block HIHs St 43 
SOUTHWEST 
Austin Cot KL Dal fas 57 
Me mp his St. BO, Texas Tech S3 
Oklahoma 19. W. Texas SL Si 
Ofchdwma SL *5, TexofrArHiwton M 
Rice 34, Jackson SI. SS 

FAR WEST 
Washington 74 Boise St. SS 
Wyoming 99. Southern Col 7* 


TEAM OFFENSE 


National Hockey L o o got 
Dec. 8: 

SCORING 



G 

Pt- 

Ara 

LA. Lakers 

2D 

2442 

123.1 

Houston 

72 

2433 

119.7 

Detroit 

22 

75*3 

117.4 

Denver 

22 

2557 

1142 

Milwaukee 

24 

278* 

1142 

Dal tas 

20 

2343 

11X2 

Portland 

24 

2701 

1T1S 

Boston 

28 

2231 

1VL4 

Utah 

23 

2554 

1110 

Chicago 

34 

2458 

1100 

Ptioenta 

21 

2318 

1104 

Now Jersey 

22 

2417 

109-9 

LA. 0 topers 

21 

2302 

1094 

Phltadetahto 

21 

229* 

TOM 

Golden Slate 

24 

7607 

1084 

SOCTCKItttfQ 

21 

2279 

188J 

San Antonio 

22 

Z3S7 

1084 

Cleveland 

20 

7154 

1074 

Indiana 

20 

2134 

1041 

Wash Inaton 

21 

2322 

1050 

Seattle 

2? 

2208 

1M0 

Atlanta 

21 

2181 

1019 

Now York 

21 

1*79 

942 



O 

A 

Pts 

Gretzky, Edm 

19 

44 

45 

Lomtew, Peh 

14 

30 

44 

Naelund, Mtt 

If 

25 

44 

Andenan, Edm 

20 

TO 

4] 

Kurri. Edm 

18 

20 

38 

Praapb Pho 

18 

20 

38 

Karr, Phe 

25 

11 

34 

Fraser, CM 

13 

72 

35 

Coffey. Edm 

It 

24 

35 

Gartner. Wadi 

17 

17 

34 

Messier, Edm 

14 

18 

34 

P. Stostav, Quo. 

14 

20 

34 

Fronds. Hart 

12 

22 

34 

Bratan. Mina 

14 

19 

33 

Bossy. NYI 

17 

IS 

32 

TaniL Ver 

18 

13 

31 

Howerchuk, Wpg 

17 

14 

31 

Savara Oil 

14 

17 

31 

Perreault Buf 

12 

1* 

31 


Bo 
Meiansan 
Minnesota (|) 
Ketch 
Chevrler 
BHIlngton 
New Jersey l» 
Uul 
Weeks 
Hmttortl (1) 
Brodeur 
Canrlce 
Vancouver 12) 
Souse 
Bon n emi uM 
Skorodemil 
Chicago (4) 
Bernhardt 
Wregget 
Edward s 


O) 


Horwor u 

Behrend 


(E ■ 


GO ALT E NOt NO 
redsBAta 

MP OA 


TEAM DEFENSE 


SeWtte 

Washington 

Boston 

Atlanta 

Milwaukee 

C lev e land 

Philadelphia 

San Antonio 

Indiana 

Utah 


Portfand 

Dados 

Golden State 

Denver 

now Jersey 

Houston 

Sacramento 


Football 

G>Qeg^Top208 


NFL Standings 



The tap M teems Is the final me 

a tor-season 

AMERICAN CONFERENCE 


Associated Press cottoo 

efaoftnU MU Wrsf- 

SOW 





-ds,totalpotets based 

W L T PCt PF 

PA 

en m-n-li. efc. add hut week* 

rankfoes): 

new England 10 4 

0 

J14 301 

227 


ieenrd 

Pts PVS 

N.Y. Jete 10 4 

0 

.714 WO 

235 

1. Penn State (45) 

11-08 

1084 1 

Miami 10 4 

0 

714 378 

293 

l Miami. Fla. (2) 

10-18 

1001 2 

IrxflerwpoJh 3 11 

0 

■214 2S5 

347 

X Oklahoma (Si 

TO- VO 

978 4 

Buffalo 2 12 

0 

.143 174 

323 

4. Iowa (SI 

JO- Vfl 

973 3 

Ceetral 




i Michigan tl> 

9-1-1 

886 5 

Cincinnati 7 7 

0 

J00 394 

376 

4 Florida 

9-1-1 

809 4 

Cleveland 7 7 

0 

-500 249 

236 

7. Nebraska 

9-M 

707 7 

Pittsburgh 4 8 

0 

J»339 

303 

& Tenram 

8-1-2 

490 a 

Houston 5 * 

8 

757 247 

350 

9. Brigham Young 

11-50 

633 9 

west 




10. Air Force 

11-VO 

541 10 

LA. Ratd*r* To 4 

0 

714 325 

299 

n. Texas asm 

F50 

534 IJ 

Danver 9 J 

0 

AO 339 

2 97 

n. lsu 

9-V1 

490 12 

Seattle I 4 

fl 

J7T 322 

243 

IX UCLA 

8-2-1 

387 14 

San Dieoo 7 7 

0 

J00 413 

383 

14. Arkansas 

980 

381 13 

Kansas CJty .5 9 

D 

757 266 

312 

1& Atchoma 

8-51 

377 15 

NATIONAL CONFERENCE 


14 Auburn 

584 

277 14 

EoW 




17. onto state 

884 

226 17 

Delias 9 S 


043 313 

281 

M. Florida State 

884 

130 18 

N.Y. Giants 9 5 


A43 35D 

245 

19. Oklahoma State 

880 

112 19 

Washington 8 4 


571 343 

272 

20. Bowline Green 

HOC 

74 

Philadelphia 6 • 


-429 235 

25$ 

(lie) Marrkmd 


74 — 

SL LaulS 5 9 


75 7 248 

341 

Tbe (tatted Press br 

sraaflcni 

■1 board ol 

Csetral 




coaches Awl toe-00 esi 

see fool 

wit rat teg i 

x-Qticago 13 1 


729 400 

175 

(ftrsbptoce votes and records/ total potato. 

Minnesota 7 7 


-500 298 

388 

based oats far Are* piece, 14 Mr second, elc. 

Detroit 7 7 


500 2(7- 

303 

and last toter* raektaeto: 


Green Bov 4 8 


423 291 

315 

1. Petei State (34) UT-O) 

565 1 

Tamuo Bay 2 12 


.143 354 

397 

X Oklahoma (1) (1M1 


498 2 

WaW 






480 3 

y-Ul Rams 10 4 


714 288 

347 

4. Miami (Fla) (IO-1) 


<79 4 

San Francisco 8 4 


571 349 

228 

5. Michigan 1 9-1-1) 


393 5 

Nnr Orleans 5 9 


557 245 

354 

4 Nebraska (98) 


290 6 

AHteita 2 12 


.141 252 

429 

7. Air Force tll-1) 


283 8 

(x-alnched division title) 




8. Tomteneg 15-W) 


STB 7 

(y-C! Inched ptavoft berth) 




9. Brigham Young ni-2) 

2 79 9 

Mntdoy 1 ! 8iwM 


to. Ldutotaoa State (9-1-1) 

180 TO 

LA. Rams 27, San Fronctsca 30 


11. Toms A&M O-Z) 


174 31 

Dec. M 




O. Arkansas 19-2) 


149 12 

Chicago at N.Y. Jets 




IX UCLA (1-2-1) 


130 13 

Kraz* atyot Denver 




14. Alabama (8-3-1) 


106 14 

Dec is 




UL Auburn (M) 


74 15 

Buffalo ct Pttbbundt 




14 Florida State (88) 


71 17 

Cincinnati at Washington 




17, Ohio State (8-3) 


59 14 

Green Bey at Detroit 




18. Fresno State UNM) 

42 18 

Houston at Cleveland 




to. Oklahoma State (58) 

40 Z 

Indianapolis of Tempo Boy 



2X Arizona (88) 


18 20 

Minnesota ad Atlanta 







N.Y. Giants at Dallas 




(By agreement wtlh the AmorlconPooteoll 

San Francisco at Now Orleans 


CeadwsAiHCtatloo, teams aa NCAA or can- 

PhttodeMda at sen Diego 




ferance probation cmd 

barred 

Tom bowl 

St. Loots at LA. Rams 




games are toeDgibte tar top 2D and national 

Seattle at LA Raiders 




dwnpfansMp comideralloR bv UP. Those 

Doc T4 




teams are Florida and Southern MefttadtotJ 

Now England at Miami 




Tennis Leaders 


Chicago 
Detroit 
I— A. ameers 


O 

too. 

Are 

21 

2101 

1004 

21 

2271 

1014 

21 

2191 

KHJ 

20 

20*6 

1044 

21 

2229 

108.1 

M 

2569 

1074 

20 

2X47 

1075 

21 

2258 

1074 

22 

206 

100.9 

20 

2201 

IW.T 

23 

2532 

n&t 

20 

2236 

1114 

24 

2684 

1114 

3D 

2246 

1124 

24 

2898 

1124 

22 

2507 

1137 

22 

25BZ 

1137 

22 

2533 

IU7 

21 

24M 

1144 

21 

2436 

1164 

24 

2719 

1164 

22 

2582 

1165 

21 

2174 

1174 


Fn 
Lindbergh 
Jensen 

Pfafadefahta 111 
Peelers 


834 32 
480 23 
380 24 


241 

Att 


SO A VO 

2 7J3 
I 2JB 
D All 

3 933 
1 2 39 
0 247 


Stefan 

Pusev 

MJcalet 

MJO 


n> 


Eilat 

Janecvk 

Healv 


1058 48 
323 24 
ISK 154 
422 32 
4S0 05 
2fa 18 
1513 )H 
979 42 
443 35 
1442 99 
1449 95 
308 28 

1757 723 
4)4 as 
1107 M 
40 4 

1501 117 
734 54 
fa 3 
BM 42 
ISM 119 
710 43 
1023 04 
24 S 
ITS* 135 
120 4 

*19 41 
a 3 
325 34 
IB 21 
ISM 120 
913 70 
404 58 
51 6 

1444 U4 


0 3S4 
0 443 

• 352 
0 3j09 
0 443 

0 450 

• Of 

1 184 

0 454 

1 4.12 

2 193 
0 545 
2 127 

0 177 

1 455 

0 440 

1 444 
0 440 
0 450 
0 443 
0 452 
0 343 
0 104 

0 1154 

■ 440 
0 300 
0 3.90 
O 4M 
0 445 
0 700 

■ 405 
O 440 
0 509 
0 704 

• 495 


INDIVIDUAL 


Dantfav. Utah 
English, Den. 
woolrtdge, CM. 
Wilkins, AIL 
Otahiwon, Hou. 
Short. 05. 
Aguirre, Dolt 
Dovfi. Ptae. 
Malone, Phil 
Johnson, LAC 
Field ( 

Thorpe, sac. 
Dawkins. n_j. 
Johnson, SA 
Worthy. LAL 
Nonce; Phee. 


Lolmbeer. DeL 
Williams. NJ. 
Malone. PMl 
Rufand, wash. 
Otaluwon, Hou. 


O FO FT Pts Avg 
22 238 193 449 304 
22 254 155 447 303 
24 227 159 415 255 

21 203 113 522 349 

22 204 132 544 X7 

18 179 72 432 240 

20 183 105 471 204 

11 194 95 4*3 2X5 

21 158 177 492 235 

1* 181 7* 442 233 


FO FOA PCt 
110 144 571 
118 182 
104 145 530 
145 249 513 
143 271 501 


Rtoaln 

369 

23 

0 

X74 







WaPUngfee O) 
Puppo 

Barroaio 

1571 

361 

1270 

70 

U 

67 

1 

1 

2 

337 

248 

XI? 

NHL Standings 




»«nok> (2) 

1631 

ts 

3 

Ill 

WALES CONFERENCE 



MokWChuk 

420 

19 

2 

271 


Patrick Division 




Gassetm 

870 

48 

1 

xa 


W L 

T Pts GF GA 

Se-rigny 

247 

IS 

a 

X37 

Philadelphia 

20 8 

0 

40 

124 

82 

Oeebac ( 1 ) 

1585 

•3 

3 

X18 

Washington 

18 7 

3 

35 

100 

70 

Vontdtabroucfc 

1290 

64 

2 

X90 

NY Rangers 

13 14 

1 

27 

101 

•a 

Hanlon 

80 

4 

0 

400 

NY Islanders 10 10 

6 

26 

96 

102 

Scott 

156 

11 

e 

422 

New Jersey 

12 13 

1 

25 

99 

104 

KtotetaMr 

191 

14 

a 

440 

Pittsburgh 

11 13 

3 

25 

102 

95 

NY Rangers 

18W 

93 

2 

32* 


Adams Division 




Keans 

8SS 

42 

D 

275 

Quebec 

is 10 

1 

31 

10) 

82 

Peelers 

485 

31 

0 

X84 

Boston 

11 9 

5 

31 

108 

95 

Riooin 

305 

21 

0 

4.13 

Montreal 

13 10 

3 

29 

118 

99 

Bataae (1) 

1845 

95 

0 

347 

Buffalo 

13 12 

2 

28 

97 

85 

D* Amour 

278 

14 

0 

304 

Hartford 

12 13 

0 

24 

99 

*9 

LemeUn 

1299 

76 

0 

XJJ 

CAMPBELL CONFERENCE 


Cateary (1) 

1573 

91 

• 

347 


Norris Division 




Romano 

996 

4B 

1 

270 

st. Louis 

11 11 

3 

25 

88 

97 

Metoche 

464 

29 

0 

X75 

Chicago 

9 11 

4 

22 

102 

117 

Herron 

180 

14 

0 

447 

Minnesota 

7 14 

6 

20 

102 

110 

pmsbaiuh HI 

U3S 

95 

1 

240 

Drirolt 

7 15 

4 

18 

SS 

120 

Moog 

1212 

69 

1 

X42 

Taranto 

7 16 

3 

17 

98 

119 

Fuhr 

491 

33 

0 

403 


Smyth# Division 




Edpuntoe n> 

1708 182 

1 

X63 

Edmonton 

20 4 

4 

44 

147 

103 

Soetaert 

430 

30 

2 

2.79 

Calgary 

15 8 

3 

33 

116 

91 

Roy 

706 

41 

a 

348 

Wlnnlpoo 

9 17 

3 

21 

97 

135 

Penney 

440 

36 

a 

471 

Vancouver 

* 17 

3 

21 

107 

125 

Montreal 09 

1576 

99 

2 

377 

Las Anoaiei 

7 16 

4 

IS 

92 

136 

wamsiav 

732 

41 

D 

X26 


Monday's Result 



Millet) 

6)0 

40 

D 

233 

Hew Jersey 



3 

I 

2-4 

MOV 

1B4 

13 

0 

424 

Minnesota 



1 

1 

2—4 

SL Lotas (3) 

1528 

77 

0 

4J8 

Johnson 16), Varbaek (6).Ctraila (21. Bride- 

Hrudey 

051 

53 

0 

374 

man2 (Bl.WManki ll) ; Hamburg Ul.Ckcar- 

Smith 

746 

49 

0 

33* 

ein (7), B roten (15), Gronam (7). Skats oa 

MY ttMkn 

1997 III 

8 

US 

goal: New Jersey (an Casey) 

11-10-7-20; 

Casey 

209 

11 

0 

X16 

Minnesota ion Resch) 10 - 12 - 10 - 32 . 




Thomas. Del. 


Bosley, dev. 
Cheeks, PML 


I ON Def Tet Avg 
22 7S 202 277 124 

22 04 ISO 274 125 

21 97 158 255 12.1 

1* 72 157 229 12.1 

22 113 144 20 115 


O No. Avg. 
IS 344 135 
21 234 115 
21 199 95 

20 115 95 

21 192 9.1 


Transition 


BASEBALL 


MINNESOTA— Nomod Chorlte Manuel 
manager of Toledo of too international 
League, George MHterwald manager of Or* 
kmdo of the Southern League and Col Ermer 
Hold coordinator of Its mi n or loo au e system. 


3m 

fctfwWrihRi hM riMBl 


ans Upset 49ers, 27-20, to Gain Playoff Berth 

red home by defensive eod Doug Reed, coroerback Gary Green returned an interception of a Joe 
liana pass 41 yards far a touchdown with 3:24 left Monday night to give Los Angeles a27-20up^ 
»ktory over San Francisco and assure the Sams of at least a wild-card berth in the NFL playoffe. 


.1, Ivon Lendl SiMUK Z John McEnroe, 
satuil. X Mob wi lender, 8417,197. 4, Jimmy 
Connor* 5442334. 5, Staton Edtwra.8431552, A 
Boris Bodur. 8397557. 7. Amttrs Jarrvd, 
831X322. 6, Tomns SmkL WtJlO. 9, YonMck 
Noah. 530258% 18. Tim Mayalta, 000792. 

Tear Potato 

1, Ivan L on dL 4,459-2. John McEnsoow4.lP-X 
Mats Wllandsr. 3508. 4. Stefan EdDere. 251 lx 
B oris BoCfeef, VB. 4. Jimmy Connors. 2.T78. 7. 
Vernik* Nocft. Utkfc Anders JarrvaiS41L«. 
Johan Kriek. 1583.10, JoMilm Nystrom. V*2- 


WOMEN 
Earn tag s 

1 , Martina Novratflovch SU2852*. % Chris 
Evgrt LlowL 072582. X Hone Mandllkovo, 
SS79J47. 4. Pam Shrtver, 3419584. & Helene 
S ufcova, *401537. 4 Cfawtlo Kdhdf-KHscfl 
8377570. 7, 23 no Garrison. 8274571 4 Manueta 
Maleeva, 8324071. 9, Kathy fthtoM, 8191,350. 
14 Coding Bassett, flBMTL 
Tear Foists 

l.mts Evert Lloyd, 3580.2. Martina Navra- 
tilova. 2550. laoudfa Kahde-KJbch, 1480.4 
Pom Shrtver, 15*0. & Zina Garrison, 1515 4 
Harto Month Ikova 13*4 7, Hotana Sukovc, 
12944 Manuota Mqioovcl 120, f, Steffi GraL 
1085L 14 Oabrioia SabattnL XML 


NEW YO RK Wanted Drew SMwmn tth 
roctor of morkgllnB. 

ST. LOUIS— Purdnsod to# eantraet of 
Morii RoohPiMwr. Ngm Houston tor 0 ptaywr 
to be named later. 

FOOTBALL 

Motional FootboH Leooue 
LA. RAMS— SlOfted eric Dickerson, run- 
ning back, to a cont ract extension. 

NJL JETS— S toned John Woodring, Une- 
bacTtar. Placed Rusty GuUbaou Dnshariter, 
an too tolured reserve list 
HOCKEY 

fii nw B ware? Mivwv 
BUFFALO— Culled up Jim Hofford, de- 
fenssmon, from Rocneuer of the American 
Hoc*ovleoeu4 

HARTFORD— Rocal led Dean Evasotvcen- 
ter, fnm filngmntqn of Hie AHL 
Minnesota— R ecalled Gent Sfmvan 
esnter, from Spring fie ld of toe AHL. 

N-Y. RANGERS— Acquired Roland Maker- 
son. gnoUender, tram Minnesota tor a second- 
round PkKInlhe 1904 draft ontfotourtfvraund 
p*di to toe 1987 draft Traded Metontop and 
Grant Ledyonl detonsenm to Lu Angela 
for Brian MacLel ton, left wing, and too Kings' 
fourth droit pfclt In 1987. 

ST. LOUIS— Sent Horit Room right wlna 
to Klnaston of toe Ontario Amateur Hockey 
loooosj colled up Narmnd Baron, toft wtno. 
from Psorfo of to* Intera ct ional Hockey 


COLLEGE 

NOTRE DA MS— Nam ed Vlitny Cerrato to 
toe toetboH coaching doff. 



> 




Page 18 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, DECEMBER 11, 1985 


OBSERVER 


Shape Up or Ship Out 

Bv Russell Baker Geneva for a photo opporte 

» nn*k ka* am Jiil II 1 


N EW YORK — You have to 
like the way Donald Regan 
has taken charge as White House 
chief of staff. 

He has pat everybody on notice 
that a take-charge guy has now tak- 
en charge- He has sent them a mes- 
sage: “Shape up or ship ouL" 
Remember Margaret Heckler? 
Of course doL She was a member of 
the president's cabinet Secretary 
of health and human services. Be- 
ing in the president’s cabinet these 
days is not like having a rote in a 
TV sitcom. 

But somebody remembered 
Heckler. That somebody was Re- 
gan. “What have you been doing 
today?" the president asked Rega n 
late one evening. 

“Remembering Margaret Heck- 
ler," said Regan. 

“Is Margaret Heckler somebody 
I ought to know?" the president 


Regan took charge. “Don’t both- 
er your head about it," he said. “TU 
handle this.” 


Heckler hadn’t shaped up, so Re- 
" ' her out- Soon she will 




“Is that a betterjob than bong a 
cabinet membeiT the president 
asked Regan. 

“Why bother your head about 
questions like that?" Regan asked. 

Because, the president said. 
Heckler had just phoned him, iden- 
tified herself as a cabinet member 
and said she was bong shipped out 

The president looked troubled; 
Regan took charge. “Being booted 
out of the cabinet and sent to a 
quiet embassy is a promotion,” Re- 
gan told the president. 

The president went on television 
to announce that being booted out 
of the cabinet was a promotion. 

It looked as if die president 
might be able to shape up, after all 

There were problems, though. 
These were created by certain peo- 
ple close to the president. Who, for 
example, had allowed Heckler to 
reach the president on the phone? 

If any old cabinet member at all 
could get the president on the 
phone like that and bother the pres- 
ident's bead, the country could 
slide into a situation where the 
president knew all his cabinet 
members by name. 

The president was soon due in 


Geneva for a photo opportunity 
with the big So via enchilada, Mik- 
hail Gorbachev. If cabinet mem- 
bers got through phone to both- 
er the president's head with their 
parochial concerns about diplo- 
matic and military matters, the 
president might look confused 
when he reached Geneva , and the 
photo opportunity would be 
spoiled. 

□ 

While worrying about the lack of 
shape-up along the phone bines, 
Regan realized that a man at the 
president's elbow was bothering 
the president's head with parochial 
concerns about diplomacy and 
warfare. This man was Robert 
McFadane, the president's nation- 
al security ad visa - . 

A man who had shaped up 
would not bother the president's 
head before talking it over with 
Regan saying, “Do you think we 
ought to bother the president's 
head about this one?" 

McFarlanehad not shaped up so 
he shipped out 

When the president asked why, 
he was tdd McFadane wanted to 
hunt to a job that paid better than 




asked the president, “that an old 
marine hke Robert McFadane who 
has devoted his whole life to the 
national security field would quit 
when he's got the best job available 
in his line of work, and just so he 
can make a little more money sell- 
ing insurance, or advice, or whatev- 
er he’s going to sdTT 

“Don’t bother your head about 
that," said Regan. 

But the president's question 
troubled Regan. It had a subtlety 
that was inconsistent with the pres- 
ident's blunt, open, regular-guy 
style. Somebody had planted that 
question in the president’s head. 
Somebody veay, very dose to the 
president. 

Who could it be if not Nancy 
Reagan? 

Regan is studying lists of places 
to which a first lady can be plausi- 
bly shipped out without raising too 
many eyebrows. After which the 
problem of her husband can be 
tackled. Unless of course, having 
seen the first lady shipped out, the 
president takes the hint and starts 
to shape up. 

New York Times Service 


Abstractionist Zao Wou-ki 
And Chinese Art Revisited 


By Michael Gibson 

International Herald Tribute 

ARIS — When Zao Wou-ki 
was in Hanghou in 1983, he 
visited the Zyeriang Academy of 
Fine Arts — where be completed 
his studies 45 years ago — and 
met the director, Hsiao Fong, and 
members of the faculty. They 
showed him paintings by 3omc of 
their students and asked his opin- 
ion. 

“The truth Is that it is all vtay 
bad,” replied Zao Wou-ki. AD the 
work he had seat followed the 
Socialist Realist manner brought 
to China in the 1950s by what he 
called “third-rate Soviet paint- 
ers." 

*T can see no reason why Chi- 
na, with a great artistic tradition 
of its Own, should have to submit 
to the teachings of the Soviet 
Union, which has no tradition to 
speak of,” he told Hsiao, refer- 
ring to methods that, even after 
the Chinese-Soviet split, contin- 
ued to be perpetuated by Soviet- 
taught artists. Of the Russians, be 
said: “They do have part of the 
Byzantine heritage, though not 
the best part, and besides that 
nothing except Socialist Realism, 
which is in fact heir to the wont 
of bourgeois art, the French /wn- 
piers exemplified by people like 
Bougnereac." 

At the end of that conversation 
the director asked Zao if he 
would come back, perhaps for 
two years, to help the academy 
learn new ways. Zao suggested 
starting with a one-month ses- 
sion, and in May this year he 
went bade to Hangzhou with his 
wife, Fran^oise Marquet, a cura- 
tor at the Paris city museum of 
modem art 

Zao, now 65, attended the Zye- 
jiang Academy in 1935-40, then 
worked as an assistant teacher 
there. After a few years he fdt an 
iLch to see the world. His father, a 
Shanghai banker, paid for the 
journey and in 1948, after a 36- 
day sea voyage, he landed in Mar- 
seille, took the train to Paris and 
i spent his first afternoon in town 
visiting the Louvre. He did not 
return to China until 1972. 

In the intervening years he had 
achieved a position of promi- 
nence in the Western art world. 
His earlier works were figurative 


bat showed the influence of Paul 
Klee. They were admired by Hen- 
ri Mkhanx, who wrote a collec- 
tion of poems inspired by them, 
hi 1952, Mkhaux introduced Zao 
to his first dealer, Pierre Loeb. 
When be returned to China in 
1972, in the waning days of the 
Cultural Revolution, Zao was a 
famous and respected artist. 

"lie first trip back was an or- 
deal'’ he recalled. “My father 
had died during the Cultural Rev- 
olution. My old teacher was in 
jafl. So were many of my friends. 
Others were being ‘re-educated' 
in camps. Those who were free 
did not dare to come and see me.” 

By 1985, when Zao and Mar- 
quet visited Hangzhou again, 
things had greatly improved. The 
town, not far from. Shanghai on 
the edge of a lake, looks much 
like the towns celebrated in chro- 
mes and traditional Chinese 
painting. There are few cats, but 
the bicycle traffic is fierce, Mar- 
quet said. 

While her husband worked 
with painters, Marquet taught 
muscology and art history. Chi- 
nese curators, she said, face some 
very bask problems, such as how 
to prevent moths from eating 
their collections of drawings. 

Tchcng Shan-tien, the director 
of the academy's department of 
oD printing, had studied to two 
years in an art school in Minneso- 
ta and his familiarity with the 
West greatly hdped Zao. Still, the 
visitor had some surprises. 

On his first day he learned that 
models were not accustomed to 
posing to more than six students 
at a tune. This, he was told, was 
the method established by the So- 
viet teacben. The model a wom- 
an of about 40 — who faced the 
students with a lump li ghting her 
frontally and, b ehind her, a blade, 
brown or grey curtain — turned 
out to be stubborn about sitting 
far more than the regulation 
number. 

Zao had 27 students, mostly 
teachers from academies in vari- 
ous parts of China. The original 
idea had been to work four hours 
a day, but when Zao saw the 
extent of the problem he decided 
to put in almost seven horns. 
Work began at 7:45 A. M. and 
stopped for a break at. 11:30. 


“The first day I wanted to go oa 
working but the students got out 
their nee bowls and protested; 
‘Mr. Zao! If we don't go now 
there will be nothing left to eatl’” 
Wort continued from 2 to 5 P. M. 
After their evening meal the stu- 
dents discussed the wok of the 
day, sometimes until 1 A. M. Zao 
was demanding , “i didn’t came 
here to harut out compliments,” 

. he told them. Only later did he 
learn that many erf 1 his students 
already had established reputa- 
tions in China. He admired all the 
more their willingness to accept 
critidsm. 

“It’s not that I want to teach 
you ■ how to paint," Zao told 
than. “I want to chang e your 
attitude toward your art. Painting 
is not so much a matter of tech- 
nique — it depends cm how you 
look at things.” 

He criticized their use of color, 
and the way they applied brush 
strokes in a cautious and pedes- 
trian way — quite iwiKim the rap- 
id, sure brush-stroke technique of 
(heir culture’s traditional’ paint- 
ing and calligraphy. “But that’s 
the way the Soviets taught us,” 
said the students. “It’s not only 
the Soviets’ fault," Zao replied. 
“You just don’t think enough 
about your art and you don’t real- 
ly look at things with your own 
eyes." 

At the end of the month the 
artists exhibited their weak, most- 
ly nudes that would strike a West- 
ern me as pretty run of the mill. 
But Zao feels there was some im- 
portant progress. “Look at tins 
one," he said, flipping through a 
photograph »|bnn and pointing 
out an occasional painting that 
might suggest the mflnRw* of 
Bonnard or Vuillard. “Here is an 
artist who made quite a lot of 
p ro g res s. You. have to bear in 
mind their point of departure and 
the fact that they know very little 
about what is gong on outride 
the country. There are, of course, 
a few ‘underground’ painters in 
China. But their work is pretty 
dreadful — decorative stuff in the ■ 
style of the 1920s or oils in the 
Western style combined with cal- 
ligraphic inscriptions in CTimew. 

I tell them it’s a shotgun wedding 
—it won’t work." 

During his years in Europe, 






Zao Wou-ki: “An inner necessity.” 


Frangois Welch 


Zao had evolved toward a highly 
personal form of abstraction. He 
dkl oil paintings and brush-and- 
ink works with a singular yet un- 
mistakably Chinese inflection. 
He has works in major art muse- 
ums, such as the Centre Pompi- 
dou in Paris, the Museum of 
Modem Art in New York, the Art 
Institute of Chicago and 10 muse- 
ums in Japan. His work is shown 
by the Pierre Matisse gallery in 
New York, the Galerie de France 
in Paris and Jan Krugier in Gene- 
va. L M. Pei has commissioned a 
2.8-meter-by- 10-meter (9-by-33- 
foot) painting for a building in 
Singapore. Zao’s larger winks, 
such as the one to Pei, sell to 
about 500,000 francs (565,000). 

Some of his students in Chtna 
wanted to follow Zao’s example 
and do abstractions, but Zao did 
his best to dissuade them. “You 


don’t start painting like that as a 
result of an arbitrary act of the 
win," he said “It has to arise out 
of an inner necessity that grows 
within the work itself." 

Though the mood in the class- 
room was toward innovation, he 
said, competition In professional 
life in China creates a tremen- 
dous pressure to conform. There 
are 20,000 candidates for the art 
schools each year, and 300 are 
accepted Once in, it means life- 
long security — the “iron rice 
bowl” as de Chinese call it — 
and nobody really wants to rock 
the boat. 

“But at the same time," Tan 
said, “they are keen to know 
about everything that is happen- 
ing in the world and eager to 
change and grow themselves — 
only, for the moment, they don't 
know bow. to go about it." 


PEOPLE 

Sothety’s Sells 14 Koses 
Despite Smuggling Fears};, 

Sotheby's sold 14 Apulian vases 
Monday in London despite fears 
by Italian officials and British mu- 
seums that the vases, which date 
from the fourth century B. C. were 
illegally excavated and smuggled 
out of Italy. An Italian government 
representative had asked Sotheby's 
to delay the sale pending results of 
a police inquiry into looting of ar- 
chaeological sites in southern Italy. 
Sotheby’s said there was no evi- 
dence that the vases came from 
these sites. Bidding was lively: 
though one vase Faded to sell, the 
other 14 fetched a total of £150,000 j l 
($218,000) and many of them more 
than doubled Sotheby's estimates. 
Legal authorities and the British 
government rejected a last-minute 
request by Lord Jenkins, arts 
spokesman to the opposition La- 
bor Party’, to block the sale. . . . 
Sotheby's also sold a bright red 
Bugatti roadster Monday for 
£440,000 to an unidentified foreign 
buyer. The 1932 Type 55 Supa* 
Sport, an open two-seater, is one of 
12 known survivors of the most 
coveted Bugatti model. Also sold 
was a 1932 Daimler that Sir Wm- 
ston Churchill owned from 1932 to 
1952: an unidentified Swiss buyer 
paid £60,500 for the car. which 
bears a buDdpg hood ornament and 
the Churchill coat of arms. . . . / 
Geronhno's war dub. a pair of ‘ 
chaps that reputedly belonging to 
Annie Oakley and a note signed by 
Abraham Lincoln were among 
items that brought about $400,000 
during an auction in Frederick, 
Maryland, from the estate or Char- 
lie Stag), a caterer who collected old 
weapons, autographs, medals and 
other artifacts. The Lincoln signa- 
ture brought $3,500, the war club 
5400 and the chaps S425. 

□ 

The French mime Maned Mar- 
cean, 62, has recovered enough 
from emergency surgery in Mos- 
cow to return To Paris, a hospital 
spokesman said Tuesday. Marceau 
collapsed with intestinal pain Fri- 
day and underwent surgery to a v 
perforated ulcer Saturday evening** 
at Botkin Hospital, which has a 
special wing for foreigners. Mar- 
ceau had performed in Leningrad 
and had a series of sold-out appear- 
ances scheduled for Moscow. Sovi- 
et television carried a program on 
him Sunday ni gh t but did not men- 
tion that he was in the hospital and 
his concerts had been canceled 


ANNOUNCEMENTS 


ALCOHOLICS ANONYMOUS in 
* fogfahJJris (deity) 4634 9965. Bone 


DOMINICAN DIVORCES, &» 20802, 
Santo Dororoo, Dominican Bep u bt c . 


SUN. N.Y. TIMES - Euraet ddrwny. 

, P06 7, B1000 Bnasck. 


CRAFTS FESTIVAL Sot. Dec 14, Amer- 
iaai Church, 45 Quoi rfOrsoy, tore 7 


PERSONALS 


HAVE A MCE DAY! BOKBL. Haw a 
nicn day) Briket. 


WE MSS YOU, PARVIS. We mm 
you. Farm. 


MOVING 


FOUR WINDS 
INTERNATIONAL 


REAL ESTATE 
TO RENT/SHARE 




LONDON. For the b«» furnished Reft 
and how*. ContiA the Spedcfesa 
Phita, Kay and Laum T4 South af 
Park 352 8111. North af Park 722 
5135. Tdet 27346 RESIDE G. 


MAYHUR, NEAR HRTCN HOTH, 
superbly furrnfed 2 bodroom flat. 
EKO/woek. T«t 01-589 8223. 


SWITZERLAND 


INTERNATIONAL CLASSIFIE 


REAL ESTATE 
TO RENT/SHARE 


CANADA 


Brand New 


THE EXCELSIOR 


Hotel Suite 
Residence 

Fnturvig 

2-, and 3- 
Bedroom Suites 



HOLLAND 


Renfhouse International 
020-448751 (4 lines] 

Nadorhomn 19-21, AmUsnfcan 


ITALY 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA FUKNISHED 


Embassy Service 

1Am.«Mmim 

73008 Mi 

YOUR REAL STATE 
AGENT IN PARIS 
4562-7899 


74 CHAMPS-H.YSEES 8th 

Slwfc, 2 or 3-rorm apartment. 
One month or mom. 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA 


i sass&a 


IE OAHDOE 4359 6797. 



REAL ESTATE 
TO RENT/SHARE 


PARIS AREA FURNISHED 




PARIS AREA TJNFUSNISHH> I NEAR CHAMPS ELY5EES 


REAL ESTATE 
FOR SALE 


PAHS* SUBURBS 


REAL ESTATE 
FOR SALE 

SWITZERLAND 



REAL ESTATE 
FOR SALE 


FRENCH PROVINCES 


CHAMPS B.YSSS roaymoaih.T * <20791 33 

ML 4 oeCtraonnL 45 63 68 38 a comforts. HOOD. Tefc 



REAL ESTATE 
FORSALE 


PARIS A SUBU RBS Farognen, on bry STUOtOS/APAKT- 
MENTS / CHALETS, LAKE GENEVA _ 
MONIREUX or in thor world famous 

HAMEAU BOUEAU . 

16th. dunuu 250 sam. house, 100 JUIA & region ofGSTAAD. From 
*t-ni spnJrm. Impeccable. SFHO.OOO. Msrtoages 60% or 6M% 

FONOAL LEGASSE 42 66 32 35 interest 

- SEVACSJL 
32 Martbrilonf. OH-1202 GENEVA. 

. Tefc 022/341540. Telex; 22030 


EMPLOYMENT 


EXECUTIVE 
POSITIONS AVAILABLE 



FAJSANDSUE 

PAHS16TH 

L«u* apwUnenr, 320*anv, Iripfa ^ 
nphon 120 sun, entrajjr redone, 6 
biinootm, 5 bfafawm, 3 ends' 
room. Rs^oaooa. Tel, 47 42 36 88 


. 1 6th Mozart 105 sqjn. 

Salon. 2 bedrooms, bathroom. 
equ i pp ed Htchon, 1st floor, ipcividud 
cerdnd hooting, low doges, 
good ajncKon. Fj^/OT- 

EMBASSY 45 62 16 4Q 


gEgSESaSZSZgEa 


MARKETMG MMCIWOwmia* 
37, eoonarast, Swiss, 6 tarnuaga in. 
during Sussitm. Geneva based, 10 
years experience mAh large US carp, 
soaks a new dnflengtog position m 
Switzerland. Good sofas record of 
omxhenKrfa/dienaails to we ste r n 
and eastern Europe. Rease reply to C. 
Geria, 3A Or Oica, 1306 Geneva / 
StMtzwfcind. 


BUSINESS SERVICES 


SAUZA REAL ESTATE AGENT & 
Smwol Contractor, we sp ed ab e in 
solving AIL yow Reed Estate, comtnre- 
torn & renow^on problems from 
opa ta wnts to factories Call Mr. 


EMPLOYMENT 
EXECUTIVES AVAILABLE 


CONSULTANCY 
ASM / PAOHC 

Highly quaffed frenc h tenor eaxcu- 
h»e (45) trfmgud, 15 years of pxrfo- 
aonrf experience •*! Asia pnmonly m 
energy and eo n s w nw products seders 
s«fcs enmuitmey work fa eWies^ 
marketing or purchasing. Please aw* 
tooCentre <f Affaires George V.OZr 
78 98 e*t 4338 or 4229. Appuntmert m 
Poo Decanter 85 ' Jonojrjr 86 

GENERAL POSITIONS 
AVAILABLE 

ENERGETIC PORTFOLIO MANAGER 
Inportart w t enujiu iiri finance group 
wish seaintfaj buferogo and nsMu- 
tional finance sub sefc sri e s seeks to « 
tobfish an 

independent PartfieGa M i age m ent 
COMPANY IN SWnZBOAND 

Energetic & experienced portfolio man- 
agers preferably with current portfafio 
Mto.ira vnfing to partiapate wi the 
ewHjngwnlwe, please send indkahon 
or past fuory, performems & financial 
prodmeah to: OPHBl 29-115515. 
PubSatas AG DusM i sri un e 44. 
0+3600 Cfen. 


PAGE 4 
FOR MORE 
CLASSIFIEDS 


OFFICE SERVICES 


GENEVA 

SWITZERLAND 

FuH Service 
is our Business 

• jnfenriatiund law and tones 
•Maftwc, telephone and telex 

services 

• Trarata ion and secraftnai services 

• ronrofton, domidfatian ml . 

“fcwwratian of Sum and faneipjA 
compcvw V 

FuH GOnSdenot and dbmftion aaurad ' 

BUSINESS ADVISORY 
SERVICES S JL 

7 T 5* Mgy.J207 GENEVA. . 

Teb 36 Kt 40 Tata* 233« 


VAN CLIXFt ARPKLS 

LONDON 

153 NEW BOND STREET. 

TEL: 01-491 1405 TELEX: Z66265 


ANNUTT 15 

One gf the forumost imuronce corepo- 
nfasei Ihe world effort 

* Gito i tw ee d Saturn On h vest u ia i il 

* U5. deftn, * CotMfafa buddy 

* Tax fine. * WWtfWidBtaue 

* Corntfato Anonymfey 

A GLOBE PLAN 5.A. 

“fitertfjNprr' 

Tefax 25185 M iCK 
Brakes*' Ew pifae i invited 




Heme sand rat history «f successful. .^nuirTnn — ■ mem uu — . 
performance A safe ftmfal jwrfan-] 

u t® CIPHER 29-115516. mfiatasi WW 


M awi fc ; 



i 1 1_ R j ; Jr | 

l^TTh 




-JJ,' 




h r" 






i. 



FINANCIAL 

investments 


; WORU) PATENT 
FOR A BtUlON DOUAR 
' -.V P bo business 

WWfeHows KwoSolitenoco 

^CtBSSrnSBS^. 


T* 01/211 92 WrCliiTofiSc 




OFFICE SERVICES 


iiiiSiiiiVitriiViiB 


ii'.” 


Td; 1T4B1 57 33 H» 


OFFICES FOR 


GMVA KAJB7 »«J»uswbs 








casWBiiSM