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•. f. .Edited, in Paris, 

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PARIS, SATURDAY-SUNDAYv DECEMBER 21-22, 1985 


ESTABLISHED 1887 


Gained to a judge, a defendant in an armed robbery trial in Nantes, France, fired upon 
imafcts on Friday, one day after taking more (ban 30 persons hostage in a courtroom. 

esotho Says Pretoria Troops Killed 
' South African Political Refugees 


*■■ Roam 

■ (ASERU, Lesotho — Nine po- 
_ si refugees from South Africa 
. : shot rtwwi Friday in Maseru, 
itbo's capital. The government 
_ lire killers were Sooth African 
n wianrins but South Africa do- 
it 

. jcording to the state-run Radio 

r.-tho, four women and three 

were lured “to a party in an 
..^Tuneni where they were sur- 
~ - d by white South Africans 
killed them with guns fitted 
-sfcncers. 

x . '.’-e owner oT the apartment has 

- lueared and is beang hunted fay 
■ -^e, the radio said. 

lX ' South African of mixed race 

- the white woman who lived 

- him were killed in a separat e 
• •' t oo t hen- home, the radio 


said. Their nine-month-old baby 
was unhurt. 

South Africa, which surrounds 
Lesotho, has accused the kingdom 
of harboring guerrillas of the out- 
lawed African National Congress, 
which seeks to overthrow whim- 
minority rule in South Africa. Le- 
sotho denies the char ge. 

In Pretoria, a Defense Force 
spokesman said South African 
forces were not involved. 

Radio Lesotho quoted witnesses 
as saying that one of the victims 
had said before bis death that he 
and his wife had been shot fay 
Boers, or South African. white! faff.. 
Dutch ancestry. Other .witnesses 
said they saw whites shooting the 
refugees. 

A man saying he represented the 
Lesotho liberation Army, which is 


figeria Says It Foiled 
«up Plot by Military 


V - 


By James JuJcwcy 

Ream 

iGOS — Nigeria has foiled a 
. to topple the government of 
’ a-al Ibrahim Babangida and 
. i mfliiaiy officers have been 
' ted. General Domical Bali, the 
ise minister, said Friday. 

■ said at a press conference 
the plotters opposed the gov- 
. ent’s action in canceling nego- 
■ns for a $2J-b31ion loan from 

■ aienunional Monetary Fund, 
-ey also resented the fact that 

officials from the government 
ieoerai Mohammed Bubari, 
brown in August by General 
ngida. had been retained in 
os>5 while other middle-level 
rs had been appointed to top 
cms. 

neral Bali did not say how 
officers were arrested nor did 
use them. But he said they 
. ■ from ail the armed services. 
» did not say when or where 
ol was uncovered, 
stem diplomats, reached in 

by telephone from the Ivory 

. said that they had been in- 
d that the trouble took place 
esday in northern Nigeria, 
Associated Press reported 
Abidjan. '[ 

[tery &<urces said several of 
. ’ Tsrers held came from the 
and and staff school in Jaji, a 
y academy in the north at- 
by virtually all Nigeria’s Sfr 
.Rom. 

XUaiy sources said three senior 
„ Jtand several senior air force 
■' 5 were among those arrested. 
Vf declined to name those de- 
^ but diplomats said it ap- 
ibai a coun martial was 
: "i sitting in Lagos to try the 
and that punishment 
beswifL 

tore of a coup attempt have 

■ ife in Lagos since Sunday, 

could be seen on a main 
in Lagos. Security has been 
fy tight around Doddan 
ts, General Babangida’s of- 
sidace, since Sunday. 

.. ontent with General Baban- 
believed to have been grow- 
_*-‘trticulariy among the pre- 
*■' ,-antly Moslem northern 
* ans who feel his government 
S rf minorities and soulhern- 
^ trees said. 

tral Buhari and the civilian 
nem he overthrew in Janu- 
/ W led by Preadem Sbehu 
.. are both from the north, 
ral Bali said investigations 
that the arrested officers 
xruiting followers and con- 
plans for the violent over- 


fi ghtiwg to topple Prime Minister 
Lea bun Jonathan, telephoned the 
South African Press Association in 
Johannesburg and daimed respon- 
sibility for the killmgs. 

Hie caller iHentiftwi him pdf as 
Mopbete Mcpbete and said he was 
th e commander of the group, which 
the Maseru government says is 
backed by Pretoria. South Africa 
denies the charge. 

In I Jiwiira, Zambia an African 
National Congress spokesman said 
six of those kffied were members of 
the rebel organization. The other 
three were Lesotho nationals, he 
added. \ 

' Meanwhile, South ■ African 
troops were reported deep in Angi^ 
la far tire third time since April, 
attacking guerrillas seeking inde- 
pendence for South-West Africa, 
which is also known as Namibia. 

Pretoria also threatened this 
month to raid Zimbabwe, from 
which it says African National 
Congress guerrillas crossed the 
frontier to plant l»mH mince that 
have killed seven persons. South 
African forces attached Gaborone, 
Botswana's capital, in June, killing 
16 



town 

General Ibrahim Babangida 

throw of the government,” be said. 
“All those military personnel in- 
volved will be dealt with in accor- 
dance with military law.” 

General Bali said the plotters 
saw no reason why Nigeria should 
rqecl the IMF loan that was fol- 
lowed by a cut in military salaries. 

They claimed, he said, that the 
military was not responsible for Ni- 
geria’s economic woes. 


December 1982. -Sonth Afri- 
can commandos attacked Maseru, 
killing at least 42 persons. Lesotho 
said the dead were dvfljans, includ- 
ing some women and children, but 
Pretoria said most were guerrillas 
of the African National Congress. 

In Pretoria, South Africa’s Stale 
Security Council issued a statement 
warning neighboring stales they 
would pay dearly unless they 
stopped anti-Pretoria guerrilla ac- 
tivities. 

“It is dear that terrorist elements 
continue to operate Inter alia from 
within Zimbabwe, Botswana, Mo- 
zambique,: Zambia, Lesotho and 
Swaziland,” it said. - : ' 

“It was decided that the govern- 
ments of these ooustries mast once 
again be informed of the South 
African government's grave con- 
cern at the increased terrorist activ- 
ities from their territory and that 
they be ™«de to realize that if «b« 
menace is allowed to continue, all 
the peoples of southern Africa will 
pay a heavy price.” 

In Johannesburg, Sooth African 
militar y officials said the army has 
been given sweeping powers of ar- 
rest to fight anti-apartheid protests. 

They said regulations published 
in the latest government gazette 
gave troops the status of policemen 
in maintaining internal security 
and crime prevention throughout 
the country. 


CourtDroma 
Ends Calmly 

By Paul Txcuchardc 

77k Ajsodaitd PrdS " 

NANTES, France — Three gun- 
men who took over a courtroom 
during a robbery trial surrendered 
after 35 hours and released their 
last two hostages unharmed Fri- 
day, police said. 

A car carrying the three gunmen 
pulled Up outride die tenrnwmT off 
the airport of the northwestern aty 
of Nantes. They were taken away 
by van. Police escorted the farmer 
hostages, both judges, into the ter- 
minal. 

“The three men surrendered to- 
gether when suddenly they realized 
they were at a dead end," said Rob- 
ert Broussard, one of France's top 
policemen who bad negotiated with 
thfcgpmnen- “Thy understood onr 
determination l^enm they found 
themselves at the far end of the 
runway with police all around 
them." 

A government-owned Mystire 
executive jet stood nearby, bnt offi- 
cials said its presence was a coinci- 
dence.' Radio reports said that it 
had fiown in to take the gnnmen 
and their hostages. 

The drama began Thursday 
morning when a man burst into the 
Nantes courthouse Thursday 
m orning with guns and grenades. 
With two defendants, he took the 
32 persons in the c o urtroom cap- 
tive. It ended Friday evening when 
the men surrendered at Nantes' 
Ch&tel Bougon Airport. 

They had left the courthouse Fri- 
day afternoon and sped off to the 
airport in a car supplied by police. 
The gang leader was handcuffed to 
the presiding judge off the trial, 
Dominique Bauhadm . 

The other hostage, Bernard Bu- 
reau, said the- gunmen hud been * 
“verydetemrined. I was extremely, 
afraid.” . 

Mr. Bureau said there were long 
periods when the gunmen held gre- 
nades with the pins removed. He 
said he bdieved the man who 
stormed the courtroom, Abdel 
Karim Khfllla, “acted out off deep 
friendship” for the two other men.' 

Mir. Bureau said that “at die be- 
ginning it was a suicide operation 
for : them* but the Mnam later 
“wanted v> lnmt tbe-pricc” 

The ^three; Georgs Cowtras, 3&' 
Patrick Thiolet, 24, and Mr. 
KhaBri, 33-, had threatened to kill 
their hostages and commit suicide 
if their escape attempt failed. 

Mr. Courtois, Mr. Tlnolet and 
two other robbety suspects were on 
trial Thursday morning when Mr. 
KhaBri bmst in and disarmed po- 
lice. 

• All but four of the captives were 
released in small groups over sever- 
al hours before the gunmen left the 
courthouse. Two of the remaining 
hostages were released soon after 
the gunmen’s car arrived at the air- 
port. 

Shortly before the gunmen left 
for the airport, Mr. Coartcas ap- 
peared oo the courthouse steps, 
noldmg a hostage and fixing several 
shots toward journalists and others 
about 70 yards away. No one was 
hurt, but a British Broadcasting 
Oxp. camera was smashed by a 
bulks. 

On Friday morning, JoSl Bitoun, 
a local reporter fra: French stale 
radio, wait inride the courtroom at 
the demand -of. the gunmen and 
recorded several statements. He 
quoted Mri Courtois as sajring that . 
he was not afraid of dying if neces- 


r. Broussard said the three 
had tried to break out of 
comthoose at 4:20 A-M. Fri- 
day, but had retreated when they 
found themselves “ in the darir in 
the large entry-lobby” in which 
members of. a pofice commando 
weretedden- 

Police arid Mr. KhaBri was a 
Moroccan who had finished serv- 
ing a sentence for armed robbery 
three weeks ago. 

“I want to grve the French justice 
system a slap in thcface,” a report- 
er quoted tan as saying. 

On Thursday, Mr. KhaBri identi- 
fied tanseaf as a member of the 
Palestinian guerrilla faction headed 
by Abu NidaL 


■ m w y 



Fire at Luxury Food Store in Paris Kills 2 

Fir e m e n carrying a victim down a ladder at the Fanchon luxury food store at the Place de la 
Madeleine in Paris, during a fire that dest r oyed the top floor. A broken gas line apparently caused 
the blaze, in which the president of Fauchoo, Josctte Guefrmno, 61, and her daughter, Nathalie, 32, 
were kilkd. Two others were seriously but, and about 250 persons were evacuated. A strike of 
workers cm the Paris Mftro on Friday caused heavier-thao-usual traffic and delayed fire fighters. 


U.S. GNP 
Up 2.4% 
In 1985 

Estimated Rate 
Is Lowest Since 
1982 Recession 


By Martin Crutsinger 

The Ajsoeuaed Pros 

WASHINGTON — The UB. 
economy is growing at an indicated 
rate of 2.4 percent in 1985, down 
sharply from last year’s revised 6.6- 
percenl increase and the weakest 
performance since the recession 
year of 1982, the government re- 
ported Friday. 

The Commerce Department said 
the gross national product, the 
broadest measure of a nation’s out- 
put off goods and services, is grow- 
ing at an estimated annual rate of 
3.2 percent in the current quarter, 
the year’s strongest performance. 

Commerce reported last month 
that GNP grew at a 4 3-percent rare 
in the third quarter, but that was 
revised downward to 3 percent. 

The department's initial “flash” 
estimate of GNP growth for the 
quarter also showed that inflation 
remains well under control. A 
GNP-linked inflation index 
showed that prices rose 3.5 percent 
in 1985, the lowest increase since a 
3-percent gain in 1967. 

A separate measurement re- 
leased Friday by the Labor Depart- 
ment, the more widely known Con- 
sumer Price Index, showed that 
consumer prices climbed 0.6 per- 


Barbie Trial Polygraph Test for Shuhz 



French Court 


Reuters 

PARIS— -The trial of Klaus Bar- 
bie, the Nazi wax criminal, was ef- 
fectively postponed Friday after 
France’s highest appeals court 
ruled that he could be charged with 
crimes against the French Resis- 
tance, as well as against Jewish ci- 
vilians,, daring World War fl. 

Court sources who disclosed the 
decision of the highest cri m i nal 
court said there now was no possi- 
bility of the trial beginning in Feb- 
ruary as planned. 

Jne 73-year-old former Gestapo 
officer has been in prison in Lyon 
since being expelled from Bolivia in 
February 1983. 

Barbae was initially charged only 
with crimes against Jewish civil- 
ians, which are considered to be 
crimes against humanity. 

• The Lyon court had classified 
fcpressioa of the Resistance as war 
enmes, which are covered in 
France by a statute of limitations, 
meaning that Barbie could not be 
tried for them more than 40 years 
later. 

Lawyers Tor surviving members 
of the Resistance questioned the 
dedsion and the appeals coart 
ruled that some crimes against the 
Resistance could be classified as 
flimK agains t humanity. 

The dossier now wifi go to the 
public prosecutor’s office in Paris. 

Barbie's lawyer, Jacques Verges, 
a maverick leftist, has said be in- 
tends to use the trial as a political 
platform to accnse the French gov- 
ernment of hypocrisy in putting his 
client op. triaL . 

Some French newspapers have 
predicted that the trial will never 
take place, in view of Barbie’s poor 
health. 


United Press tnumuxional 

WASHINGTON — President 
Ronald Reagan said Friday that 
Secretary of State George P. Shultz 
woald not be required to take a lie- 
detector test under a presidential 
directive issued last month to 
thwart spying. 

Mr. Shultz, who met earlier in 
the day with Mr. Reagan, had 
threatened to resign if his trustwor- 
thiness were pat into question. 

Mr. Reagan was asked whether 

West European officials wel- 
come Shultz's recent trip to 
Eastern Etuope. Page 2. 

he tried to change Mr. Shultz’s 
mind about taking such a test 

“Not at aB," he said. “I just ex- 
plained to Him that what be read in 
the press” during a recent trip to 
Europe was “not true.” 

Asked whether Mr. Shultz would 
have to take a polygraph test, Mr. 
Reagan replied, “Neither of us are 
going to have to take it” 

■ Unusual Pubtic Debate 

Earlier, Bernard Gwertzman of 
The New York Times reported: 

Mr. Shultz’s statement Thursday 
that he had “grave reservations” 
about lie-detector, or polygraph, 
tests and would resign “the minute 
in this government I am told that 
Tm not trusted” touched off an 
unusual public debate in the ad- 
ministration. 

His open dissent followed a di- 
rective agned Nov. 1 by Mr. Rea- 
gan requiring polygraph tests by 
officials with access to sensitive in- 
formation. 

A senior White House official 
said that despite Mr. Shultz's 
strong words it was highly unlikely 
that the secretary would resign. 




“Shultz has strong feelings,” the 
official said. “This is one thing that 
sends him through the roof.” 

Within hours of Mr. Shultz’s at- 
tack Thursday, the Central InteOi- 
gence Agency issued a statement 
rebutting his criticism. 

The statement, reflecting sharp 
disagreement between Mr. Shultz 
and William J. Casey, the director 
of the Central Intelligence Agency, 
defended the use of such tests and 
insisted that it was vital for 
“branches of government” receiv- 
ing sensitive intelligence informa- 
tion, a reference to the State De- 
partment. to use such tests. 

Defense Secretary Caspar W. 
Weinberger, in a statement reaf- 
firmed by aides Thursday, said last 
week that he would not mind tak- 
ing a polygraph test 

A white House official said that 
the State Department had opposed 
the issuing of Mr. Reagan’s direc- 
tive. A senior official said dial de- 
tails on who would have to take the 
test were being worked out by an 
interagency panel He said 100.000 
Americans might be affected. 

Another White House official 
emphasized that the polygraph 
rests would be given selectively in 
an effort to uncover eroionage. not 
to trace unauthorized disc l osu r es 
by officials to the press. 

Mr. Shultz's statement seemed to 
catch State Department officials by 
surprise. They were unable to say 
how his opposition might affect the 


r. Shultz, in a discussion with 
reporters Thursday, said he be- 
lieved that the rests were ineffec- 
tive, often implicated innocent peo- 
ple ami missed guilty ones. 

Asked about taking such a test, 
he said, “The minute in this govem- 
(Contfimad os Page 5, CoL 3) 


cent in November, the steepest 
monthly gain since January 1984. 

That report said, however, that 
price increases for the first 11 
months of the year were running at 
an annual rate of 3.6 percent. If 
that rate holds through December, 
1985 would be the best year for 
consumer prices since 1967. 

The estimate of GNP growth for 
the entire year Of 2.4 percent, the 
slowest pace since a revised 2J- 
percent drop in growth during the 
1982 recession, is well below the 
Reagan administration's predic- 
tion of 1985 growth of 2.7 percent. 

On a slightly different basis, 
measuring growth from the fourth 
quoier-of last year to the current 
quarter, the GNP grew 2 R percent, 
also bdow the administration’s ex- 
pectations for growth of 3 percent. 

The GNP fignres reported Fri- 
day reflect a substantial revision in 
the way this key economic statistic 
is calculated, a revision the govern- 
ment does every five years. The 
overiianl did a variety of things 
aimed at making the statistic a bet- 
ter reflection of the real economy. 

For example, the new GNP fig- 
ures reflect a substantial boost in 
Americans’ pasonal income aimed 
at capturing more of the so-called 
“underground economy," the 
amount of money Americans earn 
but fail to report on their income 
tax returns. 

The government estimated that 
this income loss amounted to 
8101.2 billion in 1984. It also also 
dramatically revised the estimate 
for quarterly trade deficits in an 
effort to correct fra 1 previous late 
reporting. These changes had the 
biggest impact on quarterly move- 
ments in the GNP over the last 
year. 

For instance, the government 
had originally estimated that the 
economy ended last year growing 
at a robust 4 3-percent annual rate. 
With the revision, however, eco- 
nomic growth in the final three 
months of 1984 was put at a lack- 
luster 0.6 percent. 

At the same time, the switch in- 
creased growth in the Erst quarter 
from as originally reported 0.3 per- 
cent to 3.7 percent. Growth in the 
second quarter was changed to 1.1 
p ercent from an original 1.9-per- 
cent rate. 

For the first six months of this 
year, the economy was growing at a 
2.4 percent annual rate, but this has 
picked up to a 3.1 percent rate in 
the final six months. However, the 
Reagan administration had fore- 
cast 5-percent growth. 


With Kennedy Out, Analysts See Hart as Early Front-Runner 



Senator Edward F. Kennedy dining his televised announce: 
meat in Boston that be would not seek the U.S. presidency. 


■ By David S. Broder 

WasUaf’un Past Service . 

WASHINGTON —Senator Ed- 
ward M. Kennedy's dedsion to 
drop oat of the 1988 Democratic 
presidential race has made Senator 
Gary Hart the front-runner for the 
nomination, party leaders and 
strategists in both the Democratic 
and Republican parties said. 

The Masaadmktts senator's sur- 
prise announcement Thursday, 
which many took as an end to Ins 
tape of ever being preadent, ap- 
peared to catapult Mr. Hart to the 
front of the Democratic pack, bat il 
also opened the contest to a larger 
field of possible challengers, ac- 
cording to those questioned. 

[Mr. Kennedy said Friday that 
inc reasing speculation about his 
political plans farced tan to speed 
up his dedsion. The Associated 
Press reported. from Boston. He 
added that he would not accept the 
nomination if drafted. . _ 


[He said that while his staff had 1984 Democratic presidential 
not conducted any polls on his nomination, has a level erf name 
prospects, other polls had been en- recognition and a favorable public 
cckragjng. But he said he could be image that no one else among the 


*The person who occupied the biggest part . 
of the room has walked out and that opens 
up an awful lot of space. 9 

— Peter D. Bart, Democratic pollster 


drawal are Governor Mario M. 
Cuomo of New York. Senator Jo- 
seph R. Biden Jr. of Delaware and 
Representative Richard A. Gep- 
hardt of Missouri. 

Politicians who mentioned them 
also said that other, lesser-known 
contenders, such as Governor Mi- 
chael S. Dukakis erf Massachusetts, 
may choose to run now that Mr. 
Kennedy has dropped out. 

“The person who occupied the 


“more effective” m important is- 
snes-by slaying in the Senate.] 

A Gallop Poll last July showed 
Mr. Hart as the second choice to 
Mr. Kennedy for the 1988 nomina- 
tion among Democrats and holding 
a. narrow lead over Mr. Kennedy 
among indepen den ts. 

The Colorado senator, runner*, 
up to Waher F. Mondale for the 


prospective contenders seems able 
to match at the moment. 

Mr. Hart already had set Jan. 4 
as the date for announcing whether 
be wQl seek a third term as senator 
next November or step down to 
concentrate on another presiden- 
tial bid. 

Among other possible contend- 
ers whose chances may be ad- 
vanced by Mr. Kennedy's with- 


out,” said a Democratic pollster, 
Peter D. Hart, “and that opens up 
an awful tot of space.” 

Among those mentioned by sev- 
eral observers are two retiring gov- 
ernors, Bruce E. Babbitt of Arizona 
and Charles S. Robb of Virginia, 
who have been prodding the Dem- 
ocratic Party to move away from 
the traditional liberalism embodied 
in Mr. Kennedy and Mr. Mondale. 

Mr. Kennedy himself had at- 

( Continued on Page 5, GoL 7) 


INSIDE 

■ Delegates representing East 

and West said they have made 
progress at disarmament talks 
in Stockholm. Page 2. 

■ The doctor who transplanted 

a baboon’s heart into Baby Fae 
has been accused of “wishful 
thinking.” Page 3. 

■ An Indian report found that 
sabotage did not cause the gas 
leak at a Union Carbide plant 
in BhopaL 


arts/leisure 

■ David Hockney stretches the 
conventional view of perspec- 
tive with fragmented, jigsaw- 
puzzle photographs. Page 6. 

BUSINESS/FINANCE 

■ West Germany reported a 

narrowing in its current-ac- 
count surplus. Page 17. 

■ Broken Hffl Ply. recorded a 

62-percent increase in profit for 
the six months ended in No- 
vember. Page 17. 


( 




JL- 

i 

i 


<3 





international 


Trip to East Bloc 


JeternAlhesSay Visitliulkates t/.S. 

toSofUminglts 'Hawm’ Attitude 

■ % te£E£“ a?tL 

JONN-Smotoffi^^^ SSfcSSSKg!*"'"' 


« Male George P w “ ™pi<ssXL by Mr. Kadar, 73, 


i- — o -™ 6 “ ujucc caste™ 

“jropea coentries as a step to- 
™ * more active and dtttonti. 

atod U A approach to the area. 

Mr. Shultz’s visit to Romania. 
™ngary and Yugoslavia, Ids first 

Although it yidded no apparent 

breakthroughs, policy- makers in 
several capitals suggested it could 
eventually lead to a doser align- 
KDCQt of U-S- and Western Europe- 
an strategies toward the Soviet 
Union’s occasionally restive War- 
saw Fact allies. 

In London, a senior adviser to 
Prime Minister Margaret Thatcher 
characterized the Shultz trip as a 
sign that “the practice of American 
East-West policy has been spread- 
ing out recently” from “a policy 
that was before largely concerned 
with building up detenence.” 

The British official called last 
month’s Soviet-American summit 
meeting in Geneva “a guru exam- 
ple” of this trend and cited the visit 
to Moscow this month of Com- 
merce Secretary Malcolm Bal- 
dridge as another. 

He said it appeared that Ameri- 
can public opinion had, too, shifted 
away from a “very hawkish” phase 
and “wants to see a mixed policy — 



TRIBUNE, SATPRPAY-SUNDAY, DECEMBER 21-22, 1985 


Yugoslavia Displaying WORLD BKIEFS 
Ambivalence on Terror Algeria Con™® 22 Rights Activists 

„ . MEDEA, Algeria (AP) - The Algerian State Scomty court 

Thud Attitude to Domestic Terrorists. convicted 22 or 23 persons 00 trial for memberahrp in illegal organ 

AwUUv aA ^ • 1 - - - . — - — J - 1 ia nncml 


American envoy refrained from 
saying any thing that would have 
compromised the Hungarians in 

the eyes of their allies. 

In Paris, a senior French nffiriai 
said that the Shultz swing suggest- 
ed “the United States has aban- 
doned the line of sanctions against 
Eastern Europe .' 1 

“Here is a return to normalcy,” 
said the official, who noted, howev- 
er that on the French right there SecretBTy state Georee P. Shultz, left, and Foreign 

^nt t£ r SnTS , Mr re Sre’s M^^Peter Va^ony°fHungary fisteied toagyp^y 
visit to RmTn? folk band daring Mr. Shultz s recent visit to Budapest 

After enjoying years of indul- 
gence for his independent foreign yv M KM1 T1 

European Security 1 alks 
, Gaining , Both Sides Say 

Mr. Shultz's stay in Bucharest was „ , 

widely contrasted with his friendly flewra 1986 that set Sept. 19 as a target 

encounter with Mr. Kadarin Buda- STOCKHOLM — Delegates date for finishing their work, 
pest, suggesting to some that Wash- from the North Atlantic Treaty Or- The conference is due to report 
ington was tilting away from its gamzation to the 3 S- nation Confer- to a full m eet in g of the Conference 
iroUiTinnai FrtonHiinn* to Roma- ence cm Disarmament in Enrooc on Securitv and Cooperation in Eu- 


traditional friendliness to Roma- ence on Disarmament in Europe 
nia said Friday that they were confi- 

A considerable gap still sepa- dent the talks would soon produce 
rales Washington from Paris and an agreement to reduce the risks of 


. — . MEDEA, Algeria (AP) - The Algerian State Seam ty court ha s- 

Thud Attitude to Domestic Terrorists. convicted 22 or 23 persons on trial for membership in akgal organs 

_ . _ tions and sentenced them w prison terms. ’ ■ 

Those From Other Nations Is Percewed 

wAWTNfrmN- Ynaoslavia. rational interests that mdudedose ended Thursday. 

, ties with Moslem countries, indnd- Six people were sentenced to three years mpnson, tow totwoyears. 

mg those with militant attitudes 10 to fences ranging from 10 to 18 months and three often to sa 

HX^oISSSt^DaMlisis and vnnt&lsnd. months. There was one acquittaL 

U.S. government specialists ana . ^ 


By David Binder 

New. York 71 ms Service 


months. There was one acquittal- 


Yugoslavia has kepi upfrienfiy 

° VCr ^ cfDQ^gcd from these countries or Damascus Talks on Lebanon Blocked 


toward terrorists- uuw wunu»« « 

On the one hand the Belgrade DAMASCUS (Reutere) — Lebanese militia leaden haw left Danos- 

governmmt has moved ma^rady, STties foraj between ESfitfsGa- cus with new talks on ending the civil war blocked because of differences, 
sometmitt even grmg beytmd its AbddNasser and tuo in the on a proposed new pohtical system, aidessaid Friday, • 

own borders, to strike hack a t ter- 1950s md ^ i%og w hen Thercriadbeen hopes that the talks, which opaaed Wednesday, might 

ronst acts ^radial members of ^ ^ fn rm^T nd expanding soon result in an agreement, bat the Shiite Moslem mffitia chirf, Nabih 
otmorto^ofYogoskwos*. Berri, said negotiators of the rightist militia of the Christian Lebanese 

verse a nd trad itionally antagonistic white jSFdoa not appear that Forces had advanced a last-minute change. Mr. Berri said the negotiators 
ct ^.PS S ' v ^ Yuaoslavia has provided safe ha- were expected to continne discussions over the weekend. A Lebanese 

inuSSSuSronsts.it Fon» sptam Micbrf Snahj. sad oiks might ream “in tltt not 

based cm its prof^dnonalign- has more than once given safe pas- few days, 
meat, Belgrade has ma in t ain ed sage to them, 
friendly ties with governments and ^ the case of Mr. Abbas, Bel- , 
moverumts that birvespmraed ter- gra^ authorities said that he was 
rorists, particulariy in the Arab traveling on an Iraqi d iploma tic 
world? ^ J passport and thus bad immunity 

On occasion it has also allowed and that they could not be ejected | 
reputed international terrorists safe team* man set free by the j 
pasaK through Yugoslavia, as was Italians, who had original junsdio- 
thecae withMohammed Abbas, a non m the Achflle Lanro case. 

Palestinian, cm his fli gh t to safety ' 

after the October hqadting of the 

AchiUe Lanro cruise ship. QVv AIKaninnc 

These attitudes, which may Alil a i l K t l l o 

Vpca, ambivalent to mm-Yttg*- rp„, „ p • m • 


government has moved mercilessly, 
flonVitifWBa even going beyond its 
own borders, to strike back at ter- 


i agreement to reduce the risks of Sept. 23. 

Bonn on a policy toward Poland, war. Weak on drafting a fin a l agreo- 

Presidmt Francois Mitterrand “We have an agreanent virtually meat is expected to start at the next 
a storm of protest at home within our grasp,” said Robert Bar- session, due to begin Jan. 28. 
on Dec. 4 by receiving the Polish ry, the chief UJS. delegate, as the Mr. Bany said there bad b 


appear amtnvaieiu to nan - 1 ago- rr 1 n £. • 

siavs, were evident Tuesday in re- 1 RK 6 IlCllMC 1H 
marks by Foreign Minister Raif , 

Dizdarcvic at a Belgrade news con- I foKan kmh flgfiy 
ferenoe. * 


on Secunty ana cooperation in cu- appear anunyamu iu auu-iup 
rope, which is scheduled to begin. Slavs, were evident Tuesday in re- 
preparatory sessions in Vienna on marks by Foreign Minister Raif 


.After noting that Yugoslavia 
“has been a victim of acts erf terror- 


Reuten 

ROME — Six Albanians have 


deterrence on the one hand and leader, General Wqjciech Jaru- eighth session of the talks in two meeting of views between East and 

dialogue on the other.” zelski, but some commentators years ended. “I believe there is po- West on the goals of the confer- 

A simil ar evolution occurred in connected this abrupt gesture more litical will to start drafting and, ence, although be cautioned that 

h president’s domestic more importantly, to get an agree- drafting a detailed accord would 


Mrs. Thatcher’s initially hawkish 


connected this 
to the French 


attitude to Eastern Europe after need to demonstrate control of for- menL” 

her visit to Hungary in the spring of <*i gn policy than to a thought-out The conference was part of the 


1984. 

A year later, her foreign secre- 
tary, Sir Geoffrey Howe, made 
trips to East Germany, Czecboslo- 


Mr. Bany said there had been a ism for a long time,” Mr. Dizdaro- taken refuge in flic Italian Embassy 
peting of views b et w een East and vie said: in Tirana in a bid to emigrate from 

est on the goals of the confer- “When speaking of terrorism Albania, and an Italian newspaper 
ce, although be o mtion*^ that and the struggle against terr orism, said they had threatened to poison 
afting a accord would one must also view the causes that themselves if they were handed 

it be easy. lead to it, because we believe that over to the police. 




Elliott Abrams shows photographs of ammunition he said 
was bidden in a car involved in an accident in Homhnas. 


not be easy. 

ri gn policy than to a thought-out The conference was part of the Areas of general agreement in- 
strategy toward Eastern Europe. process started by the 197S Hdsin- eluded key North Atlantic Treaty 
Chancellor Helmut Kohl of ki accords. It includes the United Organization proposals on annual 
West Germany quickly endorsed States, the Soviet Union, Canada forecasts of nnliiary activities and 
Mr. Mitterrand’s decision to re- and 32 European countries in talks the timing of advance notification 


U.S. Gtes Evidence Against Managua 

can be controlled and eliminated.” had slipped past Albanian guards WASHINGTON (WP) — An automobile crash in Honduras has 
Mr. Dizdarevic’s comments and entered tire embassy several provided new evident* to support U.S. assertions that the Nicaraguan' 


valda, Poland, Bulgaria and Roma- ceive the Polish party chief, saying «imed at reducing the risk of war on such activities, Mr. Barry said, 
nia, though in both Prague and it gave the French president a breaking out in Europe as a result The UJL envoy said there also 
Warsaw he went out of his way to chance to explain “wfaax expecta- of surprise attack, accident or mis- was agreement that the ma i n Soviet 


came at a joint news conference 
with Secretary of State George P. 


salute repressed human rights ac- tions we in Western Europe have calculation. proposal on renouncing the use of 

tivists. about the develop meats in Poland The Soviet rirfggaie, Oleg Grin- force would farm part of the final 

A number of Western European re garding more f re edom.” evsky, said that last month's Gene- document, 

political analysts contrasted Mr. The Jaruzdski trip stirred almost va summit meeting between Presi- The biggest problem areas are 
Shultz's generally careful public re- no controversy in West Germany, dent Ronald Reagan and the Soviet expected to be NATO’s insistence 
marks with the mili tant tones of a which under both Christian Demo- leader, Mikhail S. Gorbachev, had on verification and on exchanges of 
major Eastern European policy era tic and Social Democratic gov- a pronounced influence on the basic military information, and 
roeech delivered by Vice President emments has pat a premium on a Stockholm talks. Moscow’s derire to bring air and 

George Bush, in Vienna on Sept. 21, certain stability in Central Europe. “The atmosphere has become naval activities outside Europe 
1983. But Willy Brandt, ehaimum of more businesslike,” he said, “and it within any agreement 


about the developments in Poland 
re garding more freedom.” 


The Soria del egate. CHeg Grin- 


evsky, said that last month's Gene- document 


uoposal m renouncing the use of 
orce would farm part of the final 


The Jaruzdski trip stirred almost va summit meeting between Presi- The biggest problem areas are 


Shultz of the United States, who the case, but gave no further de- 
noted daring Ms visit to Belgrade tails. 

that he and the Yugoslav foreign The Milan newspaper U Gior- 


jys ago. He said that Italian and government provides material snppcrt for the leftist guerrillas in ET 
[banian officials were discussing Salvador, according to a Reagan administration official. _ ; 

e case, but gave no further do- Elliott Abrams, assistant secretary of state for inter-American affairs, . 
3s. said Thursday tha the car had come from Nicaragua and was headed for 

The Milan newspaper H Gior- HI Salvador on Dec. 7 when it crashed near Chohxteca. He said the 


delivered by Vice President emments has pat a premium on a Stockholm talks. 
Bushin Vienna on Sep L 21, certain stability in Central Europe. “The almospl 


George Bush in Vienna on Sept. 21, certain stability in 
1983. But Willy Bran 

Mr. Bush’s conspicuous singling the opposition Sc 
out of Hungary far praise severely did draw fire Tor 
embarrassed its leader, Janos Ka- times this month v 
dar, within the Warsaw Pad Hun- «ree1«lri in Warsaw 
garian officials privately argued Lech Walesa, lead' 
later that such public ideological Solidarity movemc 


But Willy Brandt, chairman of more businesslike,” he said, “and it 
the opposition Social Democrats, was possible to {tide, a number of 


did draw fire for meeting several questions that could form the 
times this month with General Jar- stance of a future agreement.' 
iiyelslri in Warsaw but not with Delegates settled the last r 
Lech Walesa, leader of the harmed procedural question Thur 
Solidarity movement. when they agreed to a schedu 


was possible to {tide, a number of Mr. Barry said the United States 
questions that could form the sub- would sign only an accord that was 


minister had discussed tire passage nale said that the four women and Honduran authorities found that the car contained six hidden compart-, 
of Mr. Abbas through Yugoslavia, two men, all brothers and sisters meats with S27.400 in cash and 450 pounds (203 kilograms) of dandes- 
Upon hearing Mr. Dizdarevic’s aged 40 to 60, had poison that they tine military equipment, induding ammunition, 21 grenades and 86 
comments, Mr. Shultz, red-faced, were threatening to take if they blasting caps, as wdl as codebooks and letters addressed to Salvadoran 
pounded the table while saying that were handed over to the Albanian guerrillas. 

“hqaeking an Italian ship, murder- police. According to II Giamale, “If it is not the Sanduristas” who sent the car, Mr. Abrams said, "then H 
ing an American, torturing and they wanted to pass through Italy is some kind of free-lance group operating in Managua under the nose of 
holding a whole bench of other on their way to Canada to join the Sandinhuas, or it is the tooth fairy. Those are equally plausible 
Americans is not justified by any another brother who had emigrated alternatives.” Miriam Hooker, speaking for the Nicaraguan Embassy. 


stance of a future agreement." militaiily significant, adding: “We 
Delegates settled the last major would rather have no agreement 
procedural question Thursday than one Much promises confi- 


canse that I know of.” 

Yugoslavia was in . a sense bom 


there. 

Hie newspaper said that the Al- 


here, said the assertions were “absolutely false.” 


of terrorism: The assassination in banian police had ringed the em- 

Sanqevo of the .Awjd^e Ferdi- b^ were ^Jowinganymie MaTCOS FoeS Wfll HaV6 Poll WatdberS 


when they agreed to a schedule for dence, but undermines it in EacL” 


nand of Austria in 1914 led to the who left it, provtdring protests from 
collapse of empires in World War I Italy. 


Basque Detainee’s Death Renews Friction in Spain 


By Edward Schumacher 

New York Times Service 


Basque terrorists. IBs handcuffed 
body was found Sunday floating in 


MADRID — The mysterious a river in the Pyrenes Mountains, 
death of a Basque detainee while in The Civil Guard said that Mr. 
police handshas renewed faction Zabaltza, 32, had escaped the night 
in Spain’s Basque region. of his capture while he was leading 

The police arrested nearly 50 

El? ^ f _L._ posed aims cache m an abandoned 

peopkth^ scatter^ oonfronta- SHraod tunneL They said that he 
lions Wednesday m whidi Baspie ^ m the tumid 

duded 

ed with uar gas and robber Mas. autopsy released 

The worst violence was in the Tuesday supported assertions that 


head or the whole body was im- 
mersed,” she said in a report 

Mr. Zabaltza’s girlfriend, who 
was detained with him, has said 
that she saw Mr. Zabaltza in a CSvfl 
Guard barracks the day after his 
supposed escape. When an investi- 
gating judge mule an unpublicized 
visit to the barracks, he was told it 
did not keep logs on detentions. 

Prime Minister Felipe Gonzfilez 
said at a news conference Monday 
that he had confide™* in Spanish 


and the birth of the original South ■ . ■ — ■ ■ ■ ' 7 

Slav kingdom. . 

ion in Spain aSSSSS ? ,om ! > " a 1 fT l >rts 

tt-ssaart Pur f 1 ? lt ^ ds 

swwifi ioaSSTi.- 


MANILA (AFP) — The government said Thursday it wfll allow the' 
United Nationalist Democratic Organization, the opposition coalition 
known as UNIDO, to have its own peril watchers in the Feb.' 7 presiden- 
tial election. -« ' • 

The Commission cm Elections gave the coalition the status of the 
dominant opposition party in the Philippines, thereby entitling it 10 
election observers. Four smaller parties were seeking that status, although, 
only UNIDO is fielding a negm presidential ticket PoD watchers certtfy 
tallies of votes in precincts bdbre they are forwarded to the Commission, 
on Elections. 


apaiusn n^KKis navc wou lmu of the second Yugoslav state, was . v°Y 1A , acvemy-eigm 00 a- The derision had been generally expected but there had been fears that 
autonomy. In dm hd year, the nXednsaMnp. ■gbnvnbeen famtdd termnpp.r- undx), amdKbS me t^oTc Aqnino end Sdvodor H.V 

Beeqne r egt onal | government jtee entpntg eby elrfb flgn emlkorge - Laurel, emojd be denied tbe dominant apposhionperty status in some 

tnrreewn^y condemned lemonsm in the past 20 yean more than ntzahon, areontag to a^tesman areas, thns Idssening its chances againstmeNew Sodety Movement of 
as an attack on democracy. lOOpSpfetave ta^MDed inlS for Colombia’s 3d Army Brigade. President FenUnand E. Marcos. 

snp^ntodSlMOTaSSS cyittmodc^at^m Yitgoda. The victims wore mostly h ind- . 

the death. Jo* Antonio ?«rfIo dmti tor tad Jta For tl.fi R«V»wl 


istin 1928. 

In the past 20 years more than 
100 people have bren killed in ter- 


ent purge by a Irftist guerrilla orga- Laurel, would be denied tbe dominant opposit 
mzatiou, accordmg to a spokesman areas, thus lessenim* its atramy ihe N( 

for Colombia’s 3d Army Brigade. JSimvSSSi E Mareo? 


status m some 
r Movement of 


uza, the bead of the regional 
•n ment, gflj d in a s tatement 
he shared “tbe doubts and 


lUUUai MIUIArtlMl iUjI 4 klUliJ laUtiZIc ■ _ _ _ s.1 *4%* miuvu it*-- * ( 

northern coastal resot of San Se- Mr. Zabaltza died by drowumg and J ^cc and pr^ised ( that the case arising from the inddenL 
hastiin. but Bilbao. Vitbria and the ah., k:- -i — would be cleared up whatever the Hoc 


bastiin, but Bilbao, Viteria and the wouM be deared up ‘‘whatever the 

Navarran city of Pamplona also violence. But bis family has con- consequ€nce& - 
recorded clashes, burning road- tended that Mr. Zabaltza drowned 801 Interior Minister Josi Bar- 
blocks and partial strikes. during torture by the Civfl Guard, rionuevo Pena took a different atti- 

The violence was provoked by A Danish forensic expert, Kar- nnk *■ pariiamait on Wednesday, 
the death of MDcel Zabaltza, a bus een Hdvcrg, wbo performed a sec- backed the Qwl Guard's ver- 
driver in San Sebastiin who was ond autopsy at the request of the rion and said any other was that of 
detained by the pa ramilitar y Civil family, said Wednesday she could **the friends of those who kidnap. 
Guard three weeks ago on suspi- not dear the doubts. “Forensic ex- extort and assassi n ate.” 
cion of being connected with pots cannot establish whether the The case has revived the fortunes 


Yugoslav ambassador to Sweden in spokesman said Wednesday. They 
1971 to a bomb that blew up an woe found in graves in tbe Andes 
airliner over Czechoslovakia with mountains around the town of Tar 
27 people aboard in 1972. cucyo in the southwestern province 


f&SdwSJMS For the Record 

woe found in graves in tbe Andes About 250 f ratifies were evacuated Friday in the town of Castridereia 
mountains around the town of Ta- North Ireland after guerrillas mortared a police station, wounding six 
cuqyo m the southwestern province people and damaging nearby buildings. fSnj 

of Cauca. Ha Cypriot police are searching for a man identified as AbduHalif 


I , , . J , _ -ITT* |T tu uuig UV1U - ■■■- II W— - m rn m C I VI U J " \t | I\tlffT* 

would be cleared up ’whatever the Central to the dispute is Basque : The attacks were organized for ofCauca. The Qpriqt poftce are seardnng for a man identified as AbduHalif 

consequences. nppm i tfrm yp the natio nal terror- die most part under the direction of Tbe dead were young men wear- Salah, 25 i connection with an attemptto smug^e arms hidden in wiiK 

But Interior Minister Jos 6 Bar- ism law under which Mr. Zabaltza Croatian or Ser bian exile groups ing the green uniform of the Ricar- bottles aboard a Swiss airiiner. Two suspects already arc in custody 

rionuevo Pena took a different atti- was arrested. Approved in 1983, motivated by the fratricidal nation- do Franco Front, which rqected following the incident, which took place Wednesday at the aiiport a** 

tude in pariiamait on Wednesday, the law allows suspects to be held alist hatreds molded in the heat of the truce signed by the mam guer- L am ac a. - {Reman,, 

” ” " for up to 10 davs before being ar- Wodd War IL rilla movement in the s umm er of traffic cnmroBcre began a 24-hour strike Fridav over their 


He backed the GvD Guard's ver- for up to 10 days before being ar- Wodd War DL 


Spanish air traffic cootroBers began a 24-lrair strike Friday over their 


raigned. Thus no court was in- These groups still have bases in 1984. The front broke away from d em a n ds for higher wages and shorter working hours. 


(Reuters) 


ciou of being connected with 


extort and assassinate” 

The case has revived the fortunes 


formed of Mr. Zabaltza’s arrest to West Germany, Belgium and Swo- the Communist Colombian Armed Wiridzsyf Ngurure, the head of Zimbabwe’s police force, has been 
answer the questions over tbe tim- dem, accordmg to Belgrade authori- Revolutionary Forces, which still arrested cm charges of “widespread corruption and improper conduct,” 


observes tbe truce. 


tbe news agency ZIANA repented from Harare. 















Cyi T ER3NATT0NAL HERALD TRIBUNE, SATURPAY-SUNDAY, DECEMBER 21-22, 1985 


Page 3 


AMERICAN TOPICS 



-V. •■•V'" 


Tha Arakriad Pra 


U ,, ®RNAMEST — Workers at Lawrence Livermore Laboratory in Livermore, 

gfitoina, have made what they contend is the world’s smallest Qnistmas tree 

i Above, a square locates the hollow glass baB, hanging from a pine needle. 
TheLbaD, magnified below, was etched with a laser to say, “Men? Christmas 1965.” 


^ Of Poor in Hospitals 

■' The Texas Health Department 
' ias adopted stringent new regu- 

- arin ns )V°gnwl to prevent pri- 
; rate hospitals from, shunting se- 

- ionsly fll patients whom they 
'nanader poor financial risks off . 
-l to public hospitals. 

. ; the regulations are intended 
. . jo stop recent incidents of turn- 
ng away patients without insur- 
■loce — mdnding a woman in 
. ■ . abor and a man with third-de- 
cree brans. 

- On a national level, the U.S. 
...House of Representatives is con- 
. tidering legislation requiring 
hat patients be evaluated ana 
"<iven “necessary stabilizing 
reatment” before being trans- 
‘erred for economic reasons. The 
.‘"Texas rtgnlalions prohibit the 
'ransfer of patients for economic 
easons altogether. 

' )hort Takes 

When Bwhmh Brewster Jr. 
eft the presidency of Yale Uni- 
" 'ersity agin years ago, his preoo- 
upation with the political and 
octal issues of the day no doubt 
tad made Yale a more vibrant 
'ad vital institution, but the en- 
towment was stagnant and the 
; - iniMings decaying. IBs succes- 
sor, A Bartlett Giamatti, 47, 
rf» is retiring now in favor of 
knno C Schmidt Jr_ 43, raised 
he endowment from S545 nril- 
ion to JL3S billion and spent 


S20 minion on deferred mainte- 
nance. “Call me Bait the Refur- 
bisher," Mr. Giamatti told The 
New York Times. “My ego is less 
wrapped up in creating new edi- 
fices than in restoring existing 
ones. My motto has been: Get 
your ducts in a row.” 

Detroit’s “People Mover’’ 
automated monorail system will 
circle a 2J9-nrile (4.7-ldlometer) 
elevated downtown loop, if it is 
ever finished. It is a year behind 
schedule, $73 million over its 
original 51 37-million bodget and 
man y of its 100- ton overhead 
beams began to crack soon after 
erection. With Detroit’s popula- 
tion dwindling and the big 
downtown department stores 
gone or moved to the suburbs, 
officials wonder whether the 
people Mover will have enough 
riders when it opens, supposedly 
in the spring of 1987. It already 
has been nicknamed the Train to 
Nowhere and the Mugger Mov- 


Frank Field, weatherman and 
science reporter at WCBS-TV in 
New Yoric, won a. decaddong 
campaign to get diagrams Illus- 
trating the Hranlkb maneuver, a 
technique to didodge food from 
the windpipe, posted in all New 
York City restaurants. Last 
month Mr. Field himself got a 
morsel of roast beef stuck in his 
throat while dining in Manhat- 
tan with a colleague, the sports 
reporter W araer Wolf, who neat- 
ly executed the maneuver. Mr. 


U.S. Congress Fails to Agree on Bill to Reduce Deficit 


The Associated Press 


WASHINGTON— Congressio- end the stalemate. 

_ 4 _ . J_t J ? AnA ■ Ail iilt /vf fk< 


nine-hour break before trying to House, on a vote of 261-137, and ufacturers to pay for a S IQ- billion 


ml adjournment was delayed again One result of the wrangling was proved the catchall appropriation 

early. Friday, as the and that the federal cigarette tax auto- bill for the rest of 1986. 

House of Representatives failed to maficaDy dropped from 16 cents to The last battle of the year came 
resolve arguments on a legislative 8 cents a pack at midnight Thurs- ^ i^c that had dorm- 

package aimed at reducing the fed- day. The deficat-rednction package Mle d the longest congressional sev- 
eral deficit by $74 bflbon. contained a provision making the ^on of Ronald Reagan's presideii- 

“Votesowecaogohwneandsay 16-cent tax permanent cy: the federal government's 

that we did reduce the deficit,” “We’ve been here too long.” said ^ defici t. 


the Senate, on a voice vote, ap- program for toxic waste cleanup. 


oved the catchall appropriation The House narrowly defeated 
U for the rest of 1986. such a broad-based tax while vot- 

Tbe last battle of the year came ing on sqiarate legislation earKer 
-on that had dram- this month, choosing a tax limited 


The 1985 session started with a 
push, led by Senate Republicans, to 
bring federal deficits under comroL 
It was also marked by clashes be- 
tween the White House and Con- 
gress, with Congress taking the lead 
on some key domestic issues, in- 


day. The deficit-red action package Mle d the longest congressional ses- lotite petrochemical industiy. on some key domestic issues, in- 
coutaioed a provision makingthe ^on of Rona?? Reagan's presiden- Opponents of the tax m the dudmgthedefiat. 

16-cent tax permanent^^^ Ihffederiti^eSment’s House said they would try on the One of the most ngmficant re- 

“We’ve been here too long.” said Srf 0 «deficiL & floor to stop the enure waste clean- suits was the end to the presidents 

the Senate minority leada\Roben , up program from the deficit-reduc- steady buildup of the Pentagon 


Committee, asked his House col- 
leagues. “The red ink.is drowning 
this country.” 

■ ■ But each chamber twice rejected 
the other’s version of the biU, and 
legislators decided early Friday af- 


in October. 

■ Appropriation Bin Approved 

Earlier, Jonathan Fuerbrmger of 
The New York Times reported i - 


budget deficit. 

Undo 1 strong political pressure 
to approve a defidi-redudug pack- 
age, House and Senate conferees 


tor Bob Packwood, a Re- 


publican of Oregon and chairman 


agreed Thursday on the tax por- ^ finance Commiuee. then 
lion, the last element needed. vowed the Senate would not accept 


But disagreement soon resur- 


vowed the Senate would not acc 
the deficit-reducing plan unless 


faced over a provision, proposed by waste cleanup program was in it 


Congress took a big step toward the Senate and accepted by the 


Field said, “Warner had never 
done it, but be had seen me dem- 
onstrate it on television.” 

Preservationists are working 
to save the now-tumbledown 
marshland bouse at Newbury, 
Massachusetts, where John P. 
Marqu&nd wrote “The Late 
George Ap5ey,”a novel that won 
the 1938 Pulitzer Prize. The Mas- 
sachusetts legislature i$ consider- 
ing whether to designate the iso- 
lated property a historical 
monument. 

Shorter Takes: The 90-cem 
fare on New York City subways 
and buses will go to a dollar Ian. 

1. Tolls on bridges, commuter 
railroads and buses also will go 
up, but the Staten Xsland-Man- 
hattfln ferry remains at 25 cents. | 
. . . Collie Bridges, 41, who for 
three years had been selling ! 
bricks ripped from derelict 
buddings in Newark. New Jer- 
sey,' was killed when he pulled 
one too many, bricks out of an-.j 
abandoned imxe-stqr^ lenffheni i 

and it ooDapsedon him Jack 

Daniels, a disc jockey at radio 
station WLLR in Davenport, 
Iowa, was suspended for three 
days after playing “Grandma 
Got Run Over by a Reindeer" 27 
times in three hours despite or- 
ders from the program director 
to stop. He was reinstated after a 
flood of calls, including some 
from abroad, supported him. 

— Compiled by 

ARTHUR HIGBEE 


tw meeting for 15 hours to take a adjournment T hursday when the House conferees, for a tax on man- 

Israel Returns U.S. Spy Documents 

Statement Says Cooperation on Intelligence Has Resumed 


This turned the last key vote of 
the year into a tense battle. 


a Re- There also were clashes on for- 
m-man rign policy, with House Democrats 
; then forcing Mr. Reagan to accept ncra- 
accept military, rather than military, aid 
ess the for the rebels fighting the Nicara- 
in h. guan government. The House also 
rote of forced Mr. Reagan to impose cco- 
e. nomic sanctions on South Africa. 


United Pros International 

WASHINGTON — The United 
States and Israd announced Friday 
that Israel had returned the docu- 
ments taken by Jonathan Jay Pol- 
lard, an accused spy, and that dose 
cooperation cm intelligence matters 
between the two governments had 
resumed. 

The U.S. State Department also 
said that the Israeli unit involved in 
the spy case had been disbanded. 

Mr. FtiOaid, a former civilian in- 
telligence analyst for the U.S. 
Navy, was arrested Nov. 21 on 
charges of selling classified infor- 
mation to Israeli contacts in Wash- 
ington. 

The announcement by Charles 
Redman, a State Department 
spokesman, came after a U.S. team, 
led by the department's lop legal 
advisee, Abraham Sofaer, said it 
had completed its investigation 
into the Pollard case. 

The team was in Israd for a week 
to interview those allegedly in- 
volved in the case. 

Mr. Redman said the Israelis 
said they bad returned all the docu- 
ments taken by Mr. Pollard and 
lhar the Israeli unit involved in the 
spy case has been disbanded. 

That unit has been identified by 
officials as the covert intelligence- 
gathering wing of a scientific re- 
search unit known as LEKEM. 

The Israeli government “acted to 
prevent any repetition of such ac- 
tivities,” Mr. Redman said. “The 
U.S. government 'regards these 
measures as constituting the coop- 
eration contemplated % the two 
governments.” 

A spokesman for the Israeli Em- 
bassy said the statement, while it 
was put out by the US. govern- 
ment, “was perfectly acceptable to 
us.” 

Mr. Redman said the normal 
flow of intelligence information be- 
tween the two governments has re- 
sumed. 1 / 

Under a 1981 agreement, the 
United Stales and Israel share mo6t 
intelligence information, but they 
also agree not to spy on each other. 

■ Cooperation Prevailed 

William Claiborne of The Wash- 
ington Post reported earlier from Je- 
rusalem: 

Despite tensions over charges 
that die U.S. government had ex- 
erted pressure in an attempt to 
force fuller disclosure of official 
Israeli involvement in the espio- 
nage case, im . recriminations sur- 


faced as the U investigative team 

left Jerusalem. 

“The spirit of cooperation pre- 
vailed, even if it had to overcome 
obstacles sometimes," a senior offi- 
cial in the Foreign Ministry said 
Thursday night. 

The official was referring to Isra- 
el's decision to make available to 
the U.S. investigators two Israeli' 
science attaches who had been 
identified in press reports as Mr. 
Pollard's contacts in the Israeli 
Embassy in Washington. 


The Israeli diplomats, Pan Ravid 
and Yosef Yagur, who both left 
Washington shortly after Mr. Pol- 
lard was arrested, retain diplomatic 
immunity. 

The UJS. team also reportedly 
interviewed Rafi Stan, a former 
adviser on counterterrorism to 
Prime Minister Shimon Peres and 
Mr. Peres's predecessor, Mena- 
chera Begin. 

Mr. Ei tan has been identified by 
‘Israeli sources as the bead of LE- 
KEML 


Meese , 3 Envoys Discuss 
Attacks on Arabs in U.S. 


By Ronald IJ. Ostrow 

las Angela Times Service 

WASHINGTON — Ambassa- 
dors from three Arab nations have 
met with Attorney General Edwin 
Meese 3d to express concern about 
the safety of Arabs and Arab- 
Americaas in the United Stales, 
citing recent bombings against 
Arab- American targets. 

Mr. Meese told the envoys at the 
Department of Justice on Wednes- 
day that the United States “will do 
whatever it can to find, arrest and 
prosecute" those responsible for 
the violence, a department spokes- 
man, Patrick S. Korten, said Thurs- 
day. 

Mr. Korten said that the Syrian 
ambassador, Rafic Jouqati, the 
Mauritanian ambassador, Abdel- 
lnh Ould Daddah, and die North 
Yemeni ambassador, Mohsin 
Alaini, were speaking for all of the 
Arab ambassadors to the United 
States. 

He said that the director of the 
Federal Bureau of Investigation, 
William H. Webster, also met with 
former Senator' James G. Abour- 
ezk, head of the American-Arab 
Anti-Discrimination Committee. 
Mr. Abourezk said after the meet- 
ing that he was satisfied that the 
FBI was investigating the violence. 

The FBI director warned last 
week that Arab- Americans were in 
a “zone of danger” from an uniden- 
tified group that is targeting per- 
sons it deemed to be “enemies of 
Israd.” , 

Last month an FBI spokesman 
attributed to the Jewish Defense 
League the OcL 11 bombing of the 


Ameri can-Arab committee's office 
in Santa Ana, California, in which 
the group's West Coast director, 
Alex M. Odeh. was killed. 

The spokesman also died the 
Jewish group, which repeatedly has 
denied responsibility for the vio- 
lence, in two earlier bombings of 
suspected Nazis in Paterson, New 
Jersey, and Brentwood, New York. 

On Aug. 16, a pipe bomb found 
outside the committee’s Boston of- 
fice exploded and figured two po- 
lice officers. 

Investigators have questioned 
whether the Washington headquar- 
ters of the American-Arab group 
was the target of a “very suspi- 
cious” fire on Nov. 29. The blaze is 
thought by the authorities to have 
started two floors below,, in the 
office of a public relations compa- 
ny, Susan Davis & Associates. 

The company’s clients have in- 
cluded Egypt and the breakaway 
Turkish Republic of Northern Cy- 
prus. 

Miss Davis said Thursday that 
her organization bad received no 
threats before or after the fire, 
which is under investigation by the 
Treasury Department’s Bureau of 
Alcohol, Tobacco and Firearms, 
assisted by the FBL 

In a related development Thurs- 
day. the Arab- American Institute 
said that the U.S. Civil Rights 

Commission has agreed to conduct 

hearings in February on aril rights 
concerns among Arab- Americans. 
James Zogby, tbe institute’s execu- 
tive director, had asked the com- 
mission's chairman, Clarence M. 
Pendleton, for a hearing. 


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fcaboon-Heart Trans 


By Sandra Blakeslee 

New York Tima Service 

■OMA LINDA California — 
attempt 14 months ago to save a 
ig infant by giving her a baboon 
rt was doomed to failure and 
outlook of her surgical team 
tainted by “wishful thinking,” 
jrding to a new medical review 
le case, 

he comments came in an ediio- 
in Friday's issue of The Journal 
3e American Medical Assoda- 
. The infant, known as Baby 
died 20 days after the opera- 

i an ankle in the same issue, 
y Foe's surgeon. Dr. Leonard 
Bailey of the Loma Linda Util- 
ity Medical Center, said ba- 
vto- fauman heart transplants 
• “a reasonable investigative 
hl" 

*e cause of Baby Fae’s death 
iol yet been determined. Ac- 
ing to Sandra L. Nehlsen-Can- 
lla, an immunologist who 
s with Dr. Bailey, the autopsy 
%d “a complicated, unclear 


tip 


t#; 


It was not rejected in the classical 
sense." 

Despite the uncertainties. Dr. 
Bailey said there were compelling 
reasons to continue experiments in 
transplanting baboon hearts into 
human infants. 

From 300 to 2,000 infants are 
boro annually with the fatal heart 
defect, hypoplastic left heart syn- 
drome, he said, explaining that 
such infants are essentially bom 
with half a heart and that most die 
within a few weeks. 

A corrective surgical technique is 
bring tried on some of these chil- 
dren but, according to Dr. Bailey, 
the surgery is just as risky as a 
baboon transplant Baby Fae was 
born with this defect. 

Another infant with the defect 
known as Baby Moses, received a 
human heart transplant from a 
brain-dead baby at Loma Linda 
last month. Tbe baby is malting 
“excellent progress,” Dr. Bailey 


e added: “The heart was in- 
! by a combination of factors. 


HURCH SERVICES 


AL BAPTIST CHURCH, 13 Rue At 
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. Sunday wonMp in English 9i45 
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BAPTIST CHURCH. 56 Rua das 

Miim, RuuHAInl ir ta it o n . English 
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5j Wonhip: UM5, CHher odMfias. 

, 0 r. B.C. Thomas, Pastor. 
>.1539. 


said, “and as of today he is thrilling 
to watch.” 

He said finding a human heart 
for Baby Moses was a stroke of 
luck and that human infant donors 
were extremely scarce. A nfin al-to- 
human transplants can fill the gap, 
he said. 

Dr. Bailey’s critics say he is well- 
intentioned but off the mark. In the 
editorial. Dr. Olga Jonasson of 
Cook County Hospital in Chicago 
and Dr. Mark A Hardy of the 
Columbia College of Physicians 
and Surgeons in New York City 
fliiri that not enough was known 
about crossing tbe species barrier 
to warrant more transplants at this 
time. 

Although the operation was 
te chni cally feasible, they said, a hu- 
man recipient is destined to form 
antibodies against a baboon heart 
and reject h. Antibodies are sub- 
stances formed by (he body to kill 
agents they recognize as foreign. 





New hearts are at work for Mary Lund and Baby Moses. 

Adult humans have vtay specific no way lo safely suppress this anti- 
antibodies in their bloodstream body activity, 
that recognize baboon tissue as for- They also said baboons wer e no t 
rign. At this time, they said, there is close enough to hu m a ns , in terms 


of genetic similarity, to be good 
candidates as transplant donors. 
Chimpanzees and gorillas are con- 
sidered closer, but cannot be bred 
in large numbers. 

They said Dr. Bailey exhibited 
“wishful thinking" in considering 
Baby Fae’s immune system to be 
immature. 

■ Transplant Patient Improves 

The first woman to receive an 
artificial heart is continuing to im- 
prove as she enters the second day 
since the implant of a new, smaller 
Jarvik-7 pump, according to offi- 
cials in Minneapolis quoted by The 
Associated Press. 

Mary Lund, 40, a nursing home 
secretary, has a better than 50-50 
chance of surviving. Dr. Frederick 
Gobd, a cardiologist, said. 

“She is responding to questions,” 
Dr. Gobd said. “Her lungs seem 
clear, and bleeding is not a prob- 
lem.” 


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Page 4 


Heralfr 


INTTRNATIONAL 



(tribune 


Pnbinbrd With Thr Nor York Ti»« a»d TV WvUngtoa Port 


Bonn’s Ambiguity on SDI 


After about a year of internal debate, the 
West German government has come op with 
a policy declaration stating its intention to 
send the economics minister, Martin Bange- 
mnnn , to Washington in January to start 
negotiations for an “improvement” of the 
legal, technical and commercial conditions 
in which German companies and scientific 
institutes could participate in President Rea- 
gan’s program of research into a space- 

based missile defense system. 

The declaration could hardly be more 
labored and anticlimactic. Although it con- 
tained a passing reference to a more positive 
declaration made in April, it bears little 
resemblance to the ringing pledges of politi- 
cal support for Mr. Reagan's initiative that 
Chancellor Helmut Kohl has made in the 
past. The very choice of Mr. Bangemann 
betrays the government’s need to stress the 
economic aspects of SDI in the face of the 
continued inability of the coalition parties to 
agree on the underlying strategic and politi- 
cal implications of the American project. 
Foreign Minister Hans- Dietrich Genscher, 
who would have been the logical envoy, was 
not the right man because he continues to be 
opposed to the U.S. initiative. 

The German government itself will play 
uo role in SDI and win provide no funds for 
it, the policy statement says. 

It is difficult cot to suspect that Mr. 
Bangemann’ s mission is a face-saving device 
intended to permit Mr. Kohl to continue in 
his role or Mr. Reagan's trusted friend while 
at the same time spiring to reduce the dan- 
ger of provoking the Russians and prevent 


the dispute within his coalition from getting 
out of hand. Horst Tdtsduk, the chancel- 
lor’s foreign policy adviser, had argued that 
it was the German companies that are inter- 
ested in SDI that had requested the govern- 
ment to become thdr emissary and protector 
on such issues as pricing, technology trans- 
fers and property rights on which they may 
disagr ee with the American authorities. 

The ambiguity of the German position 
reflects the dilemma that is facing all the 
European members of the Western alliance. 
Research on Mr. Reagan's project has begun 
and will continue regardless of the misgiv- 
ings that Western governments and scien- 
tists, Americans as well as Europea n s, have 
about it. This particular train has left the 
station, as the German weekly Die Zett re- 
marked the other day. But all else is stQl in 
balance, including the question whether the 
t rain can be made to stop at the hne between 
research and deployment of weapons. 

Governments do not want to be fully 
committed before they see more dearly, 
and European industries and scientific 
institutes do cot want to see any doors 
dosed. Government officials and private 
industrialists and scientists are watching 
closely to see how the prefect evolves in 
W ashing ton and what its impact is on U.S.- 
Soviet relations after Geneva. 

Britain is the only country so far in 
the North Atlantic Treaty Organization to 
have signed an agreement intended to 
give government haHcing to companies that 
are interested in SDI. 

INTERNATIONAL HERALD TRIBUNE. 


Mr. Shultz’s Worthy Outburst 


Normally a placid man, George Shultz 
erupted at a press conference in Belgrade when 
the Yugoslav foreign minister started making 
the usual flabby excuse — that you have to 
lake account of the underlying political 
“cause” — for terrorism by the Palestine Lib- 
eration Organization. Hijacking, murder and 
torture, the secretary of state said heatedly, 
referring to the AchOle Lauro affair, whose 
mastermind the Yugoslavs had helped to flee, 
are “not justified by any cause that I know of. 
There is no connection with any cause. It's 
wrong.” Mr. Shultz even, it is said, turned red 
and banged his fist on the table. 

No sooner had the secretary spoken, of 
course, than the usual fussbudgets started 
fretting that somehow his statement might 
have damaged relations. Think of it: A ranking 
Yugoslav had just had the gall to defend his 
country’s coddling of a criminal responsible 
for killing an American and terrorizing 
hundreds of other people. But, by the fussbud- 
gets, that is not considered to be something 
that might damage relations. The murmured 
reprimand is saved for the fellow who says a 
plain and true word in response. 

Think of this, too: Few countries have been 
plagued more by terrorism, and face a greater 
menace from it, than Yugoslavia. As desperate 


as the regime may be for commercial or other 
reasons to ingratiate itself with Libya, Iran and 
Iraq, it should be among the last to go around 
malting excuses for anti-Israel terrorism. For 
those same excuses — they boQ down to a 
stated need to treat the political “causes” — 
can just as easily be invoked by those who 
attack Yugoslavia’s ruling Communists. If Yu- 
goslavs do not have the conrage to condemn all 
forms of terrorism, they should have the dis- 
cretion to stop apologizing far some. 

A new rule needs to be engraved in every- 
body’s mind: Nobody who uses terrorism as a 
means is entitled to have ins political purpose 
taken seriously as an end. Yes, those who use 
terror often — though not always — do so in 
the name of a political cause. In those circum- 
stances, however, to reward the cause merely 
invites more terror. And as an increasing num- 
ber of Communist and Third World nations 
have found, this curse is not always limited to 
the world's designated pariahs. 

The United Nations had another vote just 
this week categorically, rather than selectively, 
condemning an especially menacing form of 
terrorism, Mdnapping. Tins is the right way. If 
Mr. Shultz hears any more of the old two-faced 
apologies, let him bang the table again. 

— THE WASHINGTON POST. 


Other Opinion 


Unusual Alliance on Terror 

Russia has joined America at the United 
Nations in declaring that it is against terrorism 
“wherever it comes from.” If so, it is quite a 
change of bean. Russia and its allies, not to 
mention their zanier friends such as Libya and 
South Yemen, have for many years provided a 
significant source of arms, encouragement and 
sometimes training for terrorists. Do the fine 
new words mean anything? 

Possibly. The Communist countries have 
never before voted as a block for an anti- 
terrorist resolution as pointed as the one 
passed by the UN General Assembly on Dec. 
6 . There has been speculation that the atmo- 
sphere of goodwill that has followed the Rea- 
gan-Gorbachev meeting may have something 
to do with Russia's new attitude. A bigger 
reason is that Russia has risen to No. 7 on the 
list of countries hit by terrorism. 

It will be a year or two before it becomes 
clear whether Russia has given up barboring, 
aiming or turning a blind eye to anti-Western 
terrorists. A good first step, if Mr. Gorbachev’s 
conversion is real, would be for him to lean 
more heavily on his Syrian proteges to obtain 
the release of the American, French and Brit- 
ish citizens held hostage by Moslem zealots. 

— The Economist (London). 


France Pins Hopes on Disney 

In announcing the decision to open a Dis- 
neyland [near Paris], Michel Giraud, head of 
the Ile-de-France regional council, spoke of an 
“historic event.” It proves that businessmen 
from across the Atlantic are confident in 
France, its economy, technical capacity and 
political institutions. It also shows that the 
Americans are no longer intimidated by the 
French bureaucracy. Paradoxically, their 
change in attitude is to be credited to 
the Socialist govenunent- 

For the Tokyo Disneyland, it was the Japa- 
nese who made the investment, In France, 
Walt Disney Productions will take the risks. 

The decision could also pave the way for 
other American firms which have long pre- 
ferred London, Brussels or Frankfurt as sites 
for their European branches. 

One notices mixed feelings of surprise and 
bitterness-, surprise az the Socialist govern- 
ment’s acceptance of American capital which 
was turned down in (he past in the name of 
defending French interests. Dressed up in 
Mickey Moose outfits, will these American 
interests become inoffensive? Today the state 
of France's economy forces it to adopt this 
“Marshall Plan” of amusement. 

— Le Monde (Paris). 


FROM OUR DEC 21 PAGES, 75 AND 50 YEARS AGO 


1910: Did U.S. Fleet Snub Germany? 
LONDON — The Evening Standard reports 
[on Dec. 20]: “Count Ernest Reventlow. Ger- 
many’s eminent naval expert, denounces the 
fraternizing of the Americans and English dur- 
ing the recent visit of the American fleet to 
English ports. The Count says that the omis- 
sion of the American fleet to visit Germany 
during its sojourn in European waters is an act 
of unfriendly character. He says that it is quite 
demonstrative Tor an American fleet to crane 
all the way across the Atlantic and then visit 
only England and France. “I should like to 
point out,” be said, “that in the United States 
people are always ready to make much of 
connections between Germany and America 
dating from past times, but in oD these friendly 
words I have never seen any proofs of Ger- 
man -American friendship in the present.” 


1935: Senator Sees War with Japan 
WASHINGTON — A storm of protest was 
aroused among anti-war circles [on Dec. 20] by 
the statement of Senator Key Pittman, Nevada 
Democrat and chairman of the Foreign Rela- 
tions Committee, that the United States would 
inevitably have to go to war with Japan if (he 
combined navies of the United States and 
Britain did not stage a demonstration of 
strength [by maneuvering near Japan] which 
would make that country listen to reason. 
According to the Senator the United States 
will be forced into a war in the Pacific if the 
militaristic government continues in Japan. 
The National Council for the Prevention of 
War demanded that the Roosevelt Adminis- 
tration disavow the speech. “Senator Pittman's 
jingoism is a menace to our national welfare," 
said a spokesman of the organization. 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY, OuAmm 19X1982 

KATHARINE GRAHAM. WILUAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Chairmen 


PHILIP M. FOIS1E 
WALTER WELLS 
SAMUEL ABT 
ROBERT K. McCABE 
CARL GEWIRTZ 


LEE W. HUEBNER, Publisha- 
Exmnre Editc REN£ BONDY 

Editor ALAIN LECOUR 

Deputy Editor RICHARD H. MORGAN 

Deputy Editor STEPHAN W. CONAWAY 

Auoddie Editor 


Deputy Publisher 
Asuaate Publisher 
Associate Publisher 

FRANCOIS DESMAISONS 

ROLF D. KRANEPUHL DinaorefA&rtamgSal* 
International Herald Tribune, 181 Avenue Charies-de-GauUe. 92200 Neuilly-sur-Seine, 

France. Tel: (1} 4747.1165. Telex 612718 (Herald). Cables Herald Paris. ISSN: 0294-8052. 

Dincteur de la publication: Walter N. Thayer. 

Mowing Or. Asia: Makdm Glam, 24-34 Hennas? Rd, Heng Kim TeL 5-28S61S. Tekx 6! 170. 

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SA. m capital de 1.200.000 F. RCS Nantem B 7 32021126. Commission Paritain No. 61337. 
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• Tribune. All rights resened. 



i 



( 


SATURDAY-SUNDAY, DECEMBER 21-22, 1985 


Court Action, Not Words , Needed to Fight Terrorism 


L OS ANGELES — Tothecatego- 
/ tyof m eani n gless gestures, add 
the United Nations’ condemnation 
Last week of international terrorism. 

After more than a decade of de- 
bate, the chief sponsors of world 
terrorism joined with its victims to 
declare all acts of terrorism as crimi- 
nal. The resolution contained a defi- 
nition of terrorism only slightly less 
ambiguous than the genealogy of a 
bam full of cats, and lacks any sanc- 
tions or enforcement mechanisms to 
dissuade nations from using terror- 
ism to achieve their national objec- 
tives. It will not save rate life or 
prevent one attack, and is a remind- 
er of the frustrations associated with 
hying to use law against terrorism. 

Nations victimized by terrorism 
have increasingly resorted to the use 
of force, whatever the risk, to com- 
bat it. However, while the judicious 
use of force may be the best answer 
in some situations, we cannot afford 
to give np on efforts to find appro- 
priate legal mechanisms to secure 
the extradition and prosecution of 
terrorists who commit crimes 
abroad against the citizens and in- 
terests of oar nation. What is needed 
are more imaginative applications 
of the law to the problem. 

Now comes news of an effort un- 
der way in Washington to seek the 
indictment of Yasser Arafat in con- 
junction with the murders in 1973 of 
Ambassador Qeo Noel of the Unit- 
ed States, G. Curtis Moore, a charge 


By Neil CL Livingstone and Terrell E. Arnold 


d’affaires, and a Belgian diplomat, 
Guy Eid, in Khartoam, Sudan. 

While the Palestine Liberation 
Organization’s “Black September” 
was implicated at the time, Mr. Ara- 
fat’s role was a source of controver- 
sy. Now, new information has sur- 
faced suggesting that the whole 
operation was planned with Iris 
knowledge and direction, and that 
he personally gave the order to 
shoot the three hostages. 

In addition to various State De- 
partment cables that seem to con- 
firm Mr. Arafat's role, the U.S. gov- 
ernment is reported to have on tape 
an interception of the telephone 

conversation between the PLO lead- 
er and the killers. Armed with this 
and additional information, a coali- 
tion of groups led by forma- the 
deputy UN ambassador, Charles M. 
Lic hengtdn. recently contacted the 
attorney general, Edwin Meese HL 
to press for Mr. Arafat's indictment 
Word from the Justice Department 
is that the matter is still under active 
consideration and that Mr. Meese 
has not yet made up his mmd. 

Any effort to reopen the case 
raises a num ber of sensitive legal 
and political issues. There are those 
at the State Department and else- 
where in the U.S. government in- 
cluding friends of the slain Ameri- 
cans, who harbor no love for Mr. 
Arafat but nonetheless maintain 


that he is the least of many evils. 
They do not believe that any posi- 
tive good could be achieved by fur- 
ther weakening him, thereby 
strengthening his more radical rivals 
for leadership of the PLO. 

Moreover, there are serious ques- 
tions relating both to jurisdiction 
and evidence that must be settled 
before any indictment could be 

AmericahashadUtde 
success in < 
terrorists . Jets tone to 
reverse that trend. 

handed down. For example, even if 
the existence of the tape of Mr. 
Arafat ordering the murders can be 
confirmed and the text of it made 
public, it must be established that 
the voice on the tape belongs, be- 
yond any doubt, to Mr. Arafat. 

The question of jurisdiction may 
be easier to overcome. A federal 
court has hrid that crimes against 
the law of nations are “punishable 
under American law regardless of 
the nationality of the victims or the 
geographic location of the crimes.” 
A federal statute was enacted in 
1976 asserting U5. government ju- 
risdiction in crimes a gains t interna- 


tionally protected persons, and the 
legislative history of the act suggests 
that Congress intended that the stat- 
ute could be .applied retroactively. 

Terrorism threatens not only U.S. 
foreign policy but also what the not- 
ed British historian and civil ser- 
vant, Harold Nicholson, called “the 
diplomatic method” — the set of 
practices and procedures governing 
relations between nations that has 
evolved over the centuries. The an- 
cient Greeks were the first to recog- 
nize that an orderly international 
system must be governed by univer- 
sally established and recognized 
principles, the most important being 
diplomatic immunity — the inviola- 
bility of diplomatic persons. 

Lately, terrorist attacks on diplo- 
mats and embassies have reached 
epidemic proportions. Over the past 
15 years, diplomats from 113 na- 
tions have been targets of terrorism 
in 128 different countries. This 
makes international cooperation 
and understanding difficult. 

The United States has enjoyed 
little success in bringing to justice 
those responsible for the deaths of 
American diplomats and citizens 
abroad. It is time to reverse this 
trend. Recent legal action against 
terrorists involved in the hijackings 
of TWA flight 847 and the Achflje 
Lauro, and Mrs. Leon Klinghoffers 
civil suit against the PLO, represent 


the opening of a new frost in the 
war against international terrorism. 
As President Ragan told ihr Amer- 
ican Bar Association in July: “Wc 
Mil act to indict, apprehend and 
prosecute those who commit the 
kind of atrocities the world has wit- 
nessed in recent weeks.” 

Such a strategy not rally reaffirms 
a UJ>. belief in the ride of law; it 
also is a dear signal to the world of 
US. commitment to seeing that jus- 
tice is done and that terrorists do 
not go unpunished. Arrest warrants 
will deny terrorists mobility and ac- 
cess to international support, unless 
they want to run the risk of capture 
and extradition by a friendly power. 
Most of alL outstanding criminal 
indictments represent a real obsta- 
cle when organizations like the PLO 
seek diplomatic recognition and me- 
dia approval, because they strip 
away what is a carefully cultivated 
facade of respectability. 

If Mr. Arafat is guilty of master- 
minding the Khartoum murders, he 
must be made to answer for it An 
indictment of Mr. Arafat would not 
be an indictment of all Palestinians, 
bat h would be a recognition that 
law must prevail ova* violence. Pal- 
estinian interests are bet served by 
people who understand this. 

The writers co-authored “Fighting 
Back: Winning the War Against Ter- 
rorism .” 77iey contributed this com- 
ment to the Los Angelas Times. 


OPEC Is Dead, But There’s No Need lor Mourning 


By Charles Krauthammer 

W ASHINGTON — If the strain of ah the 
goodwill, cheer and generosity of the season 
has left you thoroughly exhausted. I offer relief: a 
few minutes of sweet, unmitigated vindictiveness. 
OPEC is dead. Time for rejoicing. 

Astute observers detected the first sign of the 
end of the oil era not in the financial pages, but in 
the sudden disappearance from American TV 
screens of the Enron ads that showed the happy 
herd milling about in peaceful coexistence with a 
Texas refinery, proof of Big 00's neighborliness. 

When oil was king, ads could disdain anything 
so crude as product promotion. No more tigers in 
the tank Ads were for image. Seen the ads lately? 
The tiger, pro mising better performance and 
symbolizing good old grasping competition, is 
back. And so is the oil markrt. 

For almost 10 years, the Organization of Petro- 
leum Exporting Countries was the market But 
earlier this month OPEC collapsed as a cartel. The 
beauty is that OPEC destroyed itself. The massive 
oil shocks of 1973 and 1979-80 stimulated so .much 
energy conservation and non-OPEC production 
that OPEC now seQs only one- third of the free 
world's oQ, down from almost two-thirds. 

Ah, greed. A recent analysis by the London- 
based Economist shows that had OPEC not raised 
prices extortionately — say, in accord with GNP 
increases in the West — it would over the last six 
years have accumulated exactly the same total 
income (51J trillion). Bnt it would now have a 
steadier and higher price and a 30 percent greater 
share of the world market Instead of bring at the 
edge of a rising income curve, it is now at the edge 
of a cliff. Who says there is no justice? 

OPEC, of course, has another word for greed. At 
an OPEC meeting this month, Tam David-West, 
Nigeria’s oil minister, said: “Nigeria has made 
enough sacrifices to promote the ideals of OPEC.” 
Die beneficiaries of past OPEC ide ali s m , the bat- 
tered economies of the West and the ruined econo- 
mies of the oil-poor Third World, welcome 
OPECs retreat from high-mindedness. 

The news, however, is not unequivocally good. 
OD prices, now at 128 a band, are perched for a 
free-fall. Since Gulf crude costs about $2 a barrel 
to produce, there is no idling how great the fall 
could be. That is very good news for the world’s 
economies, but it carries a threat. 

Chevron’s chairman. George Keller, once called 
it the Velvet Trap scenario: A sharp drop in oD 
prices leads to an increase in oQ consumption, a 
slowdown in energy substitution out of on, and a 



decrease in marginal production from expensive 
non-OPEC wells, such as those in the Arctic and 
the North Sea. Gas is guzzled, wdls shut down, the 
market tightens and, in the 1990s, the trap doses: a 
crisis, a panic, another oil shock. 

The solution is an oil import fee. Let it go into 
effect only if the price falls below the current $28. 
If the world price is SI 8 , the lax is $10. If it is $23, 
the tax is $5. If it is $28, the tax is zero. That way no 
one pays more for gas or heating oQ than he does 
today. Such a tax would soak up windfall onl y. 

Toe effects are dear. It would keep co n s um p ti on 
from rising. (In 1984, with prices falling, UJS. oil 
consumption rose 32 percent) And, by maintain- 
ing at $28 the price offered domestic producers, it 
would keep a lot of marginal wefis from shutting. 

caused the numfcK^ of U-S. ro^^^rSTrigs in 
operation to fall to the lowest level since 1976. 

Why would anyone oppose such a boon? Presi- 
dent Reagan because he has a tax allergy, and 
supply-siders because they don’t want to take away 
the stimulative effect of an oil price drop. 


Tax allergies are incurable, but perhaps one can 
reason with stqipiy-sidas. An oS import fee does 
not abolish the stimulative effect of an oil price 
drop. It merely reallocates it. The money, at $10 a 
band, S15 billion a year, is not lost It simply gets 
collected by go ver nm ent, instead bring passed en 
directly to oQ users as a reward for energy waste. 

Tbe point of an oil import fee is to raise the 
relative prioe of ofl. The windfall does not disap- 
pear, nor the stimulative effect. In theory, the cm 
tax money could be refunded in the form of lower 
income-tax rates. The Gramm-Rudman era, even 
the most starry-eyed supply-rider wfll concede, is 
not a very good tune for thaL Well, then, an oil fee 
could narrow the deficit and obviate the need for 
corresponding, anti-stimulative spending cuts. 

If there ever was a best-of-both- worlds idea, this 
is it. The last time it was broached in Congress was 
in July. One colleague put it to Senator David 
Borea, a Democrat of Oklahoma: “The oil import 
fee mikes so much sense that Congress probably 
won’t pass it” It didn't but it should. 

Washington Pm Writers Group. 


In Soviet Bloc, Religious Revival Is Gathering Pace 


W ASHINGTON — A religious 
revival in Eastern Europe is 
creating unexpected difficulties fra 
the Soviet Union and its satellites. 

Western commentary has focused 
on Catholicism: the election of the 
Polish pope and his visits to his 
homeland; striking workers hearing 
Mass behind the gates of the l«iin 
Shipyard; the attempt to assassinate 
the pope, connected in some now- 
obscured way with the Bulgarian — 
meaning Soviet — secret police; the 
murder by Polish secret police of Far 
Cher Jerzy Popiduszko; and the mil- 
lions of pilgrims to Medjugoije, a 
remote Yugoslav village whore chil- 
dren say that they saw apparitions of 
the Virgin Mary. 

Renewed fervor among Roman 
Catholics parallels rapid growth of 
fundamentalist Protestantism in the 
Soviet Union and Romania. In both 
countries, the hierarchy of the Ortho- 
dox Church continues in its historical 
function as the agent of secular pow- 
er, which is now Communist. 

Throughout the Soviet bloc, in- 
creasing numbers of people, disillu- 
sioned by the failed promises of 
Co mmunism, are turning to religion. 
In the Soviet Union, growing num- 
bers of befievos, no longer willing to 
subject themselves to the chicanery of 
the "legal” administrative structure, 
live their religious lives in the cata- 
combs, as do the Uniates, the Ortho- 
dox schismatics, and ever-larger 
numbers of Protestant evangelicals. 

Accurate figures about the growth 
of fun damentalis m are not available 
to the West But testimony that fun- 
damentalism is (be fastest-growing 
religious movement in those two 
countries is available in the "Country 
Reports on Human Rights Prac- 
tices ” an QTinnal survey submitted to 
Congress by the State Department. 

The report covering 1984 contains 
evidence that, in the Soviet Union, - 
Pentecostals, Action-Group Baptists 
and Seventh-Day Adventists are spe- 
cific targets of judicial and extra- 
judicial persecution. Die situation is 
similar m Romania. And in those 
totalitarian states, the level of police 
attention to dissidents is as exact an 
index as we have of their degree of 
disturbance to autocracy’s rule. 

In the Soviet Union, with 250 mil- 
lion people, these Protestant sects 


By Richard T. Davies 


number perhaps 3 millio n people, 
scattered in tiny congregations across 
nine time zones. In Romania they 
may be 3.000 in a total population of 
23 million. Why, then, do the Soviet 
and Romanian leaders fear them so? 

Ultimately, because the Commu- 
nists [ear people whom they can con- 


Last Sunday Secretary of State 
George Shultz visited Bucharest. He 
told President Nzcolae Ceausescu 
that if his regime does not moderate 
its repression of fundamentalists, 
Congress may no longer accept state 
department assurances that Roma- 
nia’s human rights practices meet the 


Both RonaM Reagan and George Shultz remain 
opposed in principle to using economic pressure 
to help religious dissidents in Eastern Europe. 


standard required for most-favored- 
nation trade agreements. 

At the Geneva summit, however. 
President Reagan soft-pedaled criti- 
cism of Sonet human rights viola- 
tions and talked about “quiet diplo- 
macy.” He received no quid pro quo 
for this concession dial relieved the 
Soviet leadership of the only non- 
economic pressures that could 
compel some conformity with the 

Helsinki accords. Both Mr. Reagan 
and Mr. Shultz are opposed in princi- 
ple to using economic pressure to 
hdn religious dissidents. 

Cries for help from Soviet and Ro- 


trol only by incarceration or murder. 
People prepared to die fra their be- 
liefs tie outside the state’s power. 

The Soviet ambition is to catch up 
with Albania which in 1968 became 
the world’s first atheist state. Mos- 
cow still has a considerable distance 
to go, because, during World War D, 
Stalin made concessions to the ortho- 
dox church in return for its support. 

Church-state detente lasted until 
1959. when Nikita S. Khrushchev or- 
dered the resumption of active dis- 
couragement of religious life. 

Closing churches does not mean 
destruction of belief. Whoa BiBy 
Graham visited Soviet churches in 
1982, be reported that they were 
filled to overflowing. 

Using repressive 1929 legislation, 
the Soviets compel the Orthodox 
hierarchy to collaborate in reducing 
the numbers of churches and dergy. 
The hierarchy's subservience has pro- 
voked sharp protests from clergymen 
and lay believers. That collaboration 
between the state and the hierarchy 
also has left the field open 'to evar£ 
gelical proselytizers. That is a major 
reason why evangelical congregations 


manian evangelicals directed to fel- 
low-Christians in the United States 
are unanswered. Along with the 
World Council of Churches and the 
- National Council of Churches, the 
major fundamentalist groups are in- 
tent on maintaining ties with their 
Soviet-bloc coonterpans- 

In his authoritative study, 
“Church, State and Opposition in the 
U-StSJL," Gerhard Simon conclud- 
ed, “The aim of Soviet religious 
policy is the destruction of the believ- 
ing communities from the bottom up, 
so that finally the facade collapses 
of its own accord.” 

Because so many evangelicals re- 
fuse to register and will not collabo- 
rate with the Communist authorities, 
they cannot be destroyed from the 
bottom up. That is why Soviet and 
Romanian authorities cannot cope 
with them. That is Why f undamental . 

ists’ problems should concern Ameri- 
cans who, whatever their refigjous 
orientation, hold that people have a 
right to determine for themselves 
what they should believe. 


7he writer, a retired Foreign Service 
officer, is now president of the Re- 
.seorc* Center for Religion and Human 
Rights ui Closed Societies. He contrib- 
uted this to the Las Angeles Times. 


LETTERS TO TBE EDITOR 


Persecution in Romania 

Regarding the report u Shuhz Meets 
Kadan US. Sees Ounce of Wider 
Cantact whh East Bloc ” (Dec 17): 

■ The dever minions of the U.S. 
Stale Department continue Co apply 
toward Communist Romania their 


so-called policy, of differentiation, 

which is based on their recognition 

are the most rapidly growing refi- f that President Ceausescu is indepen- 
gious groups in the Soviet Union. ' : dent of -Moscow. Secretary of State 
lu the early 196QS, responding ^ Geragti ShnJtz was sent to Bucharest 
the new repressions, Baptists formed ' to “strengthen the ties” between the 

an Action Group, led by Georgi Vina i United States and the Kremlin. He _ 

(now in the United States) and Gen- wouM have done better to stay in concerned.. Pilgrims return .from 
v . Medj^oije, as I did, with renewed 


drnrch ran bdp the persecuted. An 
honest Mr. Shultz might have. 

GEORGE SERDICL 
. , Secretary GenwaL 

Konraniau National Peasant Party. 

. London. 

A Miracle m Yugoslavia 

The miraculous events at Mafia, 
epqe described in your back-page 
Profits 

Miracfe (Ntn>. 27) should not dis- 
tract attention from the central mes- 
sage of peace with which they are 


Economics 
Does Not 
Mean Money 

By Flora Lewis 

N EW YORK — In Washington. 

the malaise comes from indeci- 
sion, a lack of sense of direction in 
the big international issues. In New 
York it is financial frenzy, but with 
the same Tear of uncontrolled drift. 

Felix Rohatyn, the energetic finan- 
cier who put together the General 
Electric-RCA merger announced 
Dec. 11, says it bluntly: “I am fright* 
ened and utterly baffled. We are get- 
ting into totally uncharted waters.” 

The debts that are piling op can 
never be paid, except by renewed 
rampant inflation. For Mr. Rohatyn, 
the question isn't whether this will 
happen, but when, just by p u mp in g 
up the money supply to meet obliga- 
tions or after a crash wipes them out. 

He calculates that Third World 
debt is now over $1 trillion, US. 
government debt is $2 trillion, UJSu 
corporate debt is $13 trillion, and 
farm debt $500 billion. Further, these 
borrowings are linked in the world, 
financial system that is so intercom 
nectcd and moves so fast that a seri- 
ous breakdown anywhere could rip it 
all apart. Mr. Rohatyn smells 1928- 
29 fever in the air. and far too little 
attention to the warning signs while 
there is still time to head off disaster. 

Perhaps the most worrisome part is 
that some people who don’t remem- 
ber what the Depression meant are 
not worried about the way tbe econo- 
my is getting out of hand. These 
people say, “We came through it all 
right. We can manage.” 

With merger mania, takeovers, 
junk bonds, there is a mounting ten- 
dency to think only in terms of vast 
amounts of money. Money is a highly 
effective means of measurement, but 
h is not what the economy is about 
Economics is about production of 
goods and services, jobs, how peoplf 
live, investment Like pounds o. 
yards, its value as a measure depends 
on maintaining strict standards. 

In the United States, it is b an^ ni ng 
evident that financial der egulatio n b 
undermining the significance of the 
measure, although the inflow of for- 
eign capita] hides the sag. A fine 
study in Time magazine this week 
notes that threeqimtas of all stock 
Mins since January 1984 have been 
the result of corporate takeovers and 
raids, not of productive investment 
Institutions little interested in the 
healthy growth of companies but 
only in quick, high profits and rapid 
turnover of paper account for 80 per- 
cent of stock-market trading. Pension 
funds take advantage of tax-free sta- 
tus supposed to encourage prudence, 
then act like wild speculators. 

The Securities and Exchange Com- 
mission has grown lax on the i 


nadi Kryuchkov [now underground ' ^W ashin gto n . When human rights 
in the Soviet Union). Die Action misdeeds were mentioned, Mr. 
Group demands (he revision of the C t ao sesco referred to how thing * 
1929 legislation that legally wnaMek -Were under the Turks during the 17 th 
the state to regulate religious life; - and l 8 th centuries, when R omanians 
thousands of Baptists have ar- > were saved by the Romanian Ortho- 
rested and thnnsnn ds . do* Gmrch. Today not even the 


crawictum about die power of prayer 
and fasti ng to contribute to- 
first in ourselves as individuals, nntf 

consequently in the world at large. 

• DUDLEY PLUNKETT. 
Southampton, England. 


: s — r— *“-••**• iv iuv puvuu jhaiu- 

al and state authorities aren’t impos- 
mg reasonable standards of econom- 
ic judgment on the institutions whose 
solvency they grmran tf f. 

And all this is *---- * 
world 1 

nanc e. «*<yiK«mauve jac& lump, 1 
Republican of New York, and Scna- 
tor Bffl Bradley, a Democrat of Nct 
J ersey, came from opposite direction! 
lb sponsor a joint conference on tbe 
currency problem. But (heir agree 
stent goes no further than acknowl 
edging that there is 2 problem. 

No smgle move can turn tiring! 
around. There has to be a package cri 
interna tional decisions and restore! 
tion of sensible domestic rules. Tht 
market has become a euphemism foi 
anything goes, diverting basic bos? 
ness sense and ingenuity ffoni tfc 
economies of producing wealth to the 

ecrawniAe nt : rci. 


man miihhi i . . 

Once again in May, there wtilbe 
M i iH i hi t meeting of me seven kftii 
dnstrial nations. That is fbe phee.’ 
ac^bnt so far these conferences he* 
beat reduced to potfaroaneea M 
“M a constructive kfca th 
Mould be carried out inanefiaidy. 
is to appomt an mternatianal grot 
of “wise men, r n experienced p«p 
not now m government, and char 
them vrith making a fist of rccoc 
n **®tatwnsfoa' the leaders- to rn yfl * 
involving currency, debt thedd 
otand aid. If nobody takes the tiSt 
tro can only be. dim to danger.: 

The Hew York Tones. 







i 




r 0 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, DECEMBER 21-22,1985 


Page 5 



..ft l 


ales Out 



“ • 7 Ay Steven R. Wasman 

' . "* ' Nett York Tima Service 

-.** EW DELHI — Indian govera- 
^tsdcotisis declared in a report 
• v ‘ sd Friday that the Bhopal lone 
• ... ' v.'eat last year waa caused by a 
. • ptex chemical reaction dial 
. * .-.d not lave come about as a 
!t of sabotage, as charged by 
. • -in Carbide Cop. 

-w report also said that safety 
r - autioDS were not lakea at the 
dde plant in Bhopal, where 
/ ‘i icddent occurred, and that the 
: -i m Carbide plant was pooiiy 
. ■ pied to begin with. 

" ie 81 -page report was the latest 

- . t by the Indian government to 
. t the contention of Union Car- 
:„,.basedinDanbury,Connectj- 
that the accident began whoa 
. sone ddiberaidy introduced 
' x into a taalc containing meth- 

- ocyanate, a volatile and toxic 
- .-■.nicaL 

. he US. company contends that 
'X onsibtlity for running the plant 

- A with Union Carbide India 

its Indian subsidiary, 
lie report was thus likdy to fig- 
• .'prominently in the Indian gov- 
Dent's legal case against Union 
^N^ide, wtodi has been sued for 
isges. Legal experts say that 
on Carbide’s defense would be 
rif sabotage could be prov- 




Chile Looks lor Lessons 
In Argentine Junta Trial 

Some Fear MZifruy Leaders WiUSee 
A New Threat in Reium to Democracy 


PETROLEUM BLAZE — A matter fitted a water base to a gamip at Kadi oilfield in 
India’s Western Gujarat state Friday m an effort to stop a fourdsy oil fire that 
destroyed a $7-mQfion driffing ;rig and sent flames shooting temithreds of feet in the air. 

Ethiopia to Compensate US, Concerns 
Nationalized After Revolution in 1974 


he report did not make any new 
closures about the causes of the 
’ .dent. Not did it conclude how 
a - leaked into the methyl isocy- 
. I re storage tank, which Union 
7] I'bide says was the sole cause at 

,, ... a tier, the report said (hat 
f'.-sd on experiments, it had con- 
ed that water in combination 
>i certain "metallic contamj- 
... -is," caused by corrosion of the 
:. al storage tank, set off the reao- 

■ iaier itself could not have set 
- . such a violent chemical reac- 
.... the report asserted. 

- news mease from the Indian 
. moment said Friday night that 
. yone wishing to cause an acri- 
- t of this nature would have to 
resumed to have very substan- 
: ' knowledge and information” 
. . ■ at the contaminants. 

here was no comment horn 
on Carbide officials. But in the 

- , company officials have dis- 

- Kd the contention that only a 
on with a sophisticated sden- 
; background would have 

. am how to sabotage the plant 
arbide officials say that a sabo- 
would only have needed to 
w that the introduction at wa- 
ll to the lank. would disrupt the 
an in some fashion. This, they 
was known to most plant em- 

. CCS. 

.' he report was prepared under 
supervision of S. Varadarajan, 
organic and biological chemist 
heads the Council of Scientific 
Industrial Research, the Indi- 
jovamnent's central research 
.nization. 

. one respect, the report is at 
mce with theories pul forward 
iously by Mr. Varadarajan. 
* report states that about U00 

- ids {500 kilograms) of water 
'leaked into the storage tank. 

Varadarajan said earlier that 
a small amount of water had 
:d in. 

- tc report also outlined other 
‘ y problems at the plant indi- 
■ g that “conditions were ripe” 
i runaway chemical reaction 
.2,1984. 

any of these problems have 
acknowledged by Union Car- 

- such as the shutting down of a 

- gentian system foe the tanks, 
-butting down of a flare tower 
was supposed to bum off ex- 
gas, and the inadequacy or a 
-bber" that was supposed to 
. nlize the gas as it escaped. 

- acily how the water entered 
be storage tank was not deter- 

•d by the report, but it said a 
e likely" place was a series of 
from a fiber system that was 
washed. 

rbide has acknowledged that a 
n had neglected to insert a 
barrier in one of the pipes 
day, but it has denied that 
d the accident. 


The Associated Pms 

NAIROBI — Ethiopia’s Marxist 
government has agreed to pay $7 
million in compensation to Ameri- 
can companies for property nation- 
alized after the 1974 revolution, the 
VS. Embassy in Ethiopia said Fri- 
day. 

The long-running dispute over 
compensation has been cited by 
American officials as one of several 
obstacles in the way of posable 
long-term U.S. development assis- 
tance to Ethiopia, one of the 
world's poorest countries. 

An embassy spokesman said that 
the agreement was signed Thurs- 
day in Addis Ababa by the acting 
U.S. chargfc d’affaires, Joseph 
O'Neill, and Ethiopia's co mmit - 
si oner for compensation, Getahun 
Terrefe. 

The official, who requested ano- 
nymity, said in a telephone inter- 
view that the $7 millio n would be 
paid in installments over a five- 
year period. He said that the pay- 
ments would be allocated to the 
American companies by a U.S. 


government claims settlement ser- 
vice. 

U.S. officials said previously that 
drey were seeking compensation of 
about $20 milBon, although the ac- 
tual value of the nationalized .prop- 
erty was said to be far higher. 

One of the companies mentioned 
in the agreement is KaW Inc. of 
Kalamazoo. Michigan, formerly 
known as Kalamazoo Spice Extrac- 
tion Co. 

Company officials said the 
agreement a floceteH no money in 
its case, but dismissed rival law- 
suits filed by Kalsec and the Ethio- 
pian government. 

The State Department declined 
to disdose the names of other com- 
panies involved. 

Since the 1974 revolution that 
toppled Emperor Haile Selassie. a 
dose ally of the United States, the 
issue of compensation bad been 
kept alive by various lawsuits filed 
by U.S. companies. 

Last August in Washington, U.S. 
and Ethiopian officials opened 
what one diplomat described as 


“nonpolemic talks” on the matter. 

Under a 1962 amendment to the 
foreign aid bill, the United States is 
prohibited from, providing devel- 
opment aid to countries that refuse' 
to make rrnn peiKatinn for expro- 
priated American property. 

However, U.S. officials have in- 
dicated there would be no immedi- 
ate push to provide development 
aid to Ethiopia, saying that is a 
policy decision likdy to be debated 
in Congress. 

Early this year. Congress waived 
tha amendmen t For h special appro- 
priation to Ethiopia and other Afri- 
can countries devastated by 
drought and famin e for short-term 
aid projects providing such things 
as fanning supplies and wnitminn 
facilities. 

The legal restraints cm develop- 
ment aid for Ethiopia have no ef- 
fect on emergency assistance. Dur- 
ing 1985, the United States 
donated 440.000 tons of the 1.1 
million tons of food sent to Ethio- 
pia during the famine 


By Bradley Graham 

Washington Post Serf ice 

SANTIAGO —The trial of nine 
fonnerjunta members in Argentina 
on charges of having presided over 
a campaign of murder, kidnapping 
and torture has become both a 
Messing and a curse for the cause of 
re-establishing democracy here in 
Chile. 

Opposition politicians and hu- 
man rights activists in Chile ap- 
plauded the trial, in which five of 
the . former junta members were 
convicted last week, as an impor- 
tant precedent in bolding military 
leaders accountable for offenses 
. committed while in office. 

But these groups have worried 
that the Argentine example has 
made dole's armed forces and 
President Augusto Pinochet more 
hesitant to surrender power to a 
civilian government, out at fear 
that the same fate could befall 

than 

"What happened in Argentina 
has been both good and bad for 
us,” said GermAn Molina, national 
secretary of the Chilean Human 
Rights Commission. “It has shown 
ns that justice is possible against 
the military, but Pinochet is now 
using the Argentine situation to 
warn other officers and strengthen 
his control over the armed forces.” 

Military commanders in Chile 
have kept dose watch on the Ar- 
gentine proceedings, according to 
Chileans with contacts in the 
armed forces. 

One trial document circulated 
among Chile's military command- 
ers and cabinet members was the 
defiant final defense speech of a 
former admiral, Emilio Massera. 
He justified the tactics of the late 
197us and eariy 1980s by saying 
that Argentina’s war against leftist 
guerrillas required unconventional 
methods. 

Opposition politicians signed a 
national accord in August calling 
for a transition to democracy. But 
wary of giving General Pinochet an 
excuse to postpone a return to civil- 
ian rule, they Included a commit- 
ment to avoid future human rights 
trials a pwwtt the military aimed at 
"humiliation, vengeance or collec- 
tive passing of sentence ad hoc.” 


China Moves to Expand Ties With East Germany 


By Daniel Southerland 

Washington Pat Service 

BEUING — China and East 
Germany bdd talks here this week 
that seem to point to a significant 
strengthening of their ties, against a 
background of rapidly expanding 
Chinese contacts with several East 
European countries. 

Chinese press reports on the 
talks held by Horst Sindermann, 
president at the East German legis- 
lature and a member of the Ger- 
man Communist Party Politburo, 
said that Mr. Sindermann had been 
given a warm reception. 

Sources said that one report in a 
Chinese internal publication, one 
not intended for wide distribution, 
said that Erich Honecker, first sec- 
retary of the East German Commu- 
nist Party, might visit Beijing next 
year. The publication displayed the 
report prominently. 

Should Mr. Honecker cone to 
China, it would be the first top- 
level visit in more than two decades 
by the leader of a country closely 
tied to the Soviet Union. 

An East German Embassy offi- 
cial responded cautiously to a ques- 
tion about a visit by Mr. Honecker, 
but acknowledged that it was a pos- 
sibility. He said that no date had 
been set. 

China already has extensive rela- 
tions with West Germany, its 
fourth-laigest trading partner after 
Japan, the United States and Hong 
Kong. But parallel with an im- 
provement in its relations with the 
Soviet Union, Beijing has for more 
than a year been expanding its ties 
with East European nations allied 
with Moscow. 

An expansion of ties with East 
Germany would fit with the em- 
phasis that China has placed in 
recent years on having a foreign 


policy independent of either super- 
power. 

In a report released earlier this 
week rat the Sindermann visit, the 
official Xinhua news agency 
quoted Hu Yaobang. general secre- 
tary of China's Communist Party, 
as saying that China and East Ger- 
many should greatly increase their 
trade in a wide range of areas. 

Xinhua said that at a meeting on 
Monday, Mr. Sindermann passed 
on a message of regard from Mr. 
Honecker to Mr. Hu, who sent his 
greetings bade to the Hast German 
leader. Mr. Hu and Mr. Honecker 
are believed to have met more than 
two decades ago when they held 
s imilar positions as Communist 
Youth League leaden. 

Diplomats said it was significant 
that Xinhua referred to Mr. Sinder- 
maim at one point by bis Politburo 
title, a courtesy not always accord- 
ed to the East Germans because the 
two nations’ Communist parties 
have not bad formal relations for 
more than 20 years. 


China has long had fairly good 
relations with Yugoslavia, Hunga- 
ry and Romania, which have pur- 
sued certain e c onomic and political 
policies that differed from those of 
the Soviet Union. , 

But diplomats said that an im- 
provement of relations with East 
Germany, a country dosely linked 
to the Soviet Union, could come 
only if Moscow approved of the 
development and perhaps saw it as 
reinforcing their own improving 
links with China. 

Diplomats have said that one of 
the reasons for China’s expanding 
contacts with East European na- 
tions is the possible benefit of tech- 
nology exchanges with those coun- 
tries. 

A Western diplomat said Thurs- 
day that in some areas, China ap- 
parently regards East Germany, 
Czechoslovakia and Hungary as 
holding a major edge over the Sovi- 
et Union in the development and 
management of new technologies. 

China signed a major, five-year 


trade, agreement with the Soviet 
Union in July and now apparently 
regards its trade with most East 
European countries as abnormally 
low. 

. But there are Kurils on how far 
China can go in trading with either 
the Soviet UitioD or its East Euro- 
pean partners. The biggest con- 
straint is that most of the trade with 
the Eastern bloc countries is con- 
ducted on a cumbersome barter ba- 
sis. 

The Soviet bloc nations are not 
capable of paying in hard currency 
for much that they import from 
China. The other constraint is a 
continuing reliance on Western na- 
tions to be the main providers of 
technology for China. 

U Peng, a deputy prime minis- 
ter, is reported to have presided 
earlier this year over a major con- 
ference aimed al improving trade 
relations with Eastern Europe. Mr. 
Li is on a nine-day visit to Czecho- 
slovakia and Bnlgaria that is to last 
until Dec. 22. 


Polygraph Waived for Shultz U.S. Withdrawing 

J Its Plan to Sell 


(Continued from Page 1) 
meat I am told that Tin not trusted, 
is the day that I leave.” 

This was (be first time Mr. Shultz 
had publicly dissociated himself 
from apresidential decision. 

In 1983, Mr. Shultz threatened to 
resign, an administration official 
said, when an earlier presidential 
directive requiring polygraph tests 
was being drafted. Because of Mr. 
Shultz’s objections, the directive 
was eanerfed, the officia l said. . 

According to the chief White 
House spokesman, Lany Sjpeakes, 
Mr. Reagan signed the directive 
Nov. 1 establishing a government- 


wide policy of polygraph examina- 
tionsof employees and contractors n • a 
with access to sensitive informa- UOUSlfig AgCIlCy 

Mr. Shultz was in Europe on Ycrk rmJCT Smkr 


Dec. 1 1 when the word of the direc- 
tive became public. 

While meeting with reporters 
Thursday, he was asked his views 
on polygraph tests. He said, “Per- 
sonally, I have grave reservations 
about so-called he detector tests.” 

With its 13,000 employees in 
Washington and overseas, the State 
Department is one of the agencies 
that would most be affected by 
widespread use of lie detector tests. 


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WASHINGTON —Alter exten- 
sive criticism from the real estate 
and construction industries, the 
Reagan administration has decided 
tentatively to withdraw its proposal 
to sell the Federal Housing Admin- 
istration to private investors by 
1990, administration officials said. 

However, some administration 
officials still are committed to the 
idea, and the president’s budget for 
the 1987 fiscal year probably will 
propose a study to determine 
whether it would be feasible to sell 
the agency, the officials said. 

The budget to be submitted to 
Congress in early February, will 
not specify a timetable for selling 
the agency, nor will the budget ac- 
counts reflect tbe expected pro- 
ceeds of such a sale, the officials 
said Tbe Office of Management 
and Budget has estimated the value 
of tbe agency at S3 billion. 

The FHA was established in 
1934 to help combat the effects erf 
the Depression, and it has provided 
mortgage insurance for more than 
51 million home buyers. 

The Reagan administration 
changed its plans for the federal 
hpusing agency less than a week 
after Tne New York Times report- 
ed that President Ranald Reagan's 
draft budget for 1987 contained a 
proposal to sell the agency. 


80 % of the Computers 
In China Are in Storage 

The Associated Press 

BEIJING — Eighty percent of 
the computers in Beijing sh idle in 
storage because of a lade of techni- 
cians, an official newspaper report- 
ed Friday. 

The English-language China 
Daily quoted Lu Shouqun, bead of 
the People's Office of Electronics 
Development, as saying the com- 
puter industry is to shift its focus J 
□ext year to improved 
machines. .. * 


While opposition members 
would like to see at least some mfii- 
tary officers put on trial after de- 
mocracy returns, even moderate 
leftists appear willing to compro- 
mise on tins point in the interest of 
en ding military rule. 

“We are saying we can’t build a 
future democracy on impunity.” 
said Sergio Bitar, leader of tbe 
Christian Left party. “At tbe same 
time, we have tried to reassure the 
military that whatever justice there 
will be won’t be massive and won’t 
be vengeTuL” 

In Argentina, those accused of 
human rights violations were not 
prosecuted until after the military 
regime had been replaced in 1983 
by the elected civilian government 
of Rah) Atfoasfn. But Chilean 
courts already have begun review- 
ing allegations ajy»tng| mfiiiary and 
police offioere. 

One incident this year, tbe killing 
in March, of three ftilw Commu- 
nists, triggered a government crisis. 
The three .men were seized by 
armed men and found two days 
later on a road near the Santiago 
airport, their throats slashed. 

An investigation by a govern- 
ment-appointed special prosecutor 
led to the suspension in August of 
14 police officers as well as the 
dismantling of Dicomcar. the intel- 
ligence wing of the Carabineros, 
the national police force. It also 
prompted the resignation from the 
junta, and from hu job as chief of 
the Carabineros, of General C6sar 
Mcadoa 

Last week, nine of the 14 police- 
men were given back their jobs, but 
charges are pending against tbe re- 
maining five. 

But lawyers said the progress of 
court cases that allege execution 
and torture is still slow. Govern- 
ment agencies are said to be largely 
uncooperative. 

“Tbe situation in the courts is 
essentially the same as before,” 
said Roberto Garreton, chief attor- 
ney for the Vicariate of Solidarity, 
the human rights office set up by 
Chile’s Roman Catholic Church 
“The regime con continue to de- 
tain, torture, assassinate and exile 
people with a sense of impunity” 

Chile’s government spokesman 
and the interior nrinictw denied 
several requests for interviews. 

There are 668 documented cases 
of people disappearing without a 
trace in tbe five years after 1973, 
when Chilean armed forces over- 
threw President Salvador ADende, 
according to the Inter-American 
Commissi an on Human Rights, an 
agency of the Organization of 
American States. 



Potential candidates for 
the Democratic presi- 
dential n omina tion in- 

dude Governor Mario 
M- Cuomo of New 
York, top left; Senator 
Gary Hart of Colorado, 
top right, and Senator 
Joseph R. Biden Jr. id 
Delaware. 



Hart Seen as Front-Runner 


(Continued from Page 1) 
tempted this year — by speeches 
and occasional Senate votes — to 
soften his long-established liberal 
image, but his potential candidacy 
was worrisome and unwelcome to 
most border-state and southern 
Democratic officials. 

Because Mr. Cuomo was warmly 
received at the 1984 Democratic 
National Convention with a speech 
invoking many of the same liberal 
themes that Mr. Kennedy had 
voiced in his 1980 campaign 
against President Jimmy Carter, 
many observers said be may be 
adopted by the liberal wing of the 
party as its favorite candidal 

With the withdrawal of Mr. Ken- 
nedy. S3, Mr. Cuomo, who is the 
same age, is tbe “old man” of a 
youthful Democratic field. Mr. 
Han is 49 and tbe others are youn- 
ger — a point that may be signifi- 
cant if die Republican nominee is 
Vice President George Bush, who is 

Mr. Gephardt, 44, and Mr. Bi- 
den, 43, have been two of the busi- 
est Democrats on tbe 198S speak- 
ing circuit, and both were regarded 
as poimfiai 1988 candidates even 
before Mr. Kennedy’s withdrawal. 

But neither man has the advan- 
tage Mr. Hart possesses: public 
recognition and the residue of the 
campaign organization that was 
mobilized during his challenge to 
Mr. Mondale in 1984. 

Only the Reverend Jesse L. Jack- 
son, the third-place finisher in 


1984, has such a built-in network of 
supporters. Mr. Jackson is consid- 
ered a likely contender again io 
1988, but few observers give him a 
real chance of being nominated. 

Edward J. Rollins, manager of 
President Ronald Reagan's 1984 
campaign, said that from the Re- 
publican point of view, the main 
effect of Mr. Kennedy’s withdraw- 
al will be to “end our wishful think- 
ing.'’ He added: “It takes away tbe 
one candidate we were sure we 
could beaL” 


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| FEBRUARY 27 . *' 



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8 









Page 6 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, DECEMBER 21-22, 1985 


ARTS / LEISURE 


Hockney Takes Moving Look 
At Photographic Perspective 


By Michael Gibson 

International Herald Tribune 

P I ARIS — “Is photography an 
art?" The question was implicit- 
ly punctuated by a raised eyebrow. 
*T thought it was a bobby!” David 
Hockney, possibly the most di- 
versely gifted English artist of his 
generation, used to enjoy repeating 
this line; bat for the past two years 
he has been working almost exclu- 
sively with a camera, only gradual- 
ly coming to an awareness of what 
he was trying to achieve. 

Hockney, 48, was in Paris recent- 
ly for the opening of an exhibition 
of works commissioned for a 40- 
page section of the Christmas issue 
of French Vogue. The carte blanche 
section is filled with drawings, 
some hand-written texts about per- 
spective, and a lot of prismatic pho- 
tomontages in which a single scene 
or object is rendered by perhaps as 
many as 100 photos taken from 
slightly different angles and pieced 
together like a puzzle. Hockney be- 
gan working like this with a Polar- 
oid camera but later decided to use 
a “perfectly ordinary camera." 

“At first I thought I was dealing 
with time — putting time into the 
picture," he said. The camera 
moved from point to point, and 
occasionally the person shown — if 
there was one — was rendered with 
his head in several different posi- 
tions. “So I got excited when I 
ultimately realized that I had dug 
up a problem which has been de- 
bated for over 300 years, and then 
rejected: the problem of perspec- 
tive." 

Much of modern art apparently 
decreed that perspective was un- 
necessary and should be aban- 
doned, “but photography couldn't 
abandon it, could it? It seemed to 
be built in." 

Thai was perhaps the challenge 
that got him working with the cam- 
era, to break up the “obvious and 
objective" perspective of the lens's 
eye. It is an intriguing notion, espe- 
cially when one considers that 
one's perception of the world is a 
patchwork of smaller perceptions 
that the eye picks qp left and right 
— “Scientists," said Hockney, 
“have shown that if you prevent the 
eye from moving, it no longer sees 
anything" — and that the brain 
then organizes into a coherent rep- 


Americans Sweep 
U. K. Pop Charts 

The Associated Press 

L ONDON — American women 
• recorded five of the top seven 
pop singles sold in Britain in 1985, 
according to listings by Melody 
Maker, the London music weekly. 

“The Power of Love” by Jennifer 
Rush was the biggest hit, entering 
the top 50 weekly singles charts in 
July, reaching No. 1 for three weeks 
in October. 12 by this week. 

“Move Closer" by Phyllis Nel- 
son took second place, ahead of 
“Cherish" by Kool and the Gang. 
Madonna, had a double success, 
with “Crazy For You" at No. 4 slot 
and “Into the Groove” at No. 7. 


resen tation of one's surroundings. 

Hockney started reading books 
on quantum physics in the hope of 
finding further clues. “They were 
books published for the layman, 
and it was the philosophical base 
that fascinated me, not the mathe- 
matical stuff, which was beyond 
me. In them I found ideas like: 
There is no such thing as a neutral 
viewpoint. And then, too, they were 
using what they thought were meta- 
phors, I suppose, things like: A new 
picture of reality is emerging, wider 
perspectives, wider horizons — and 
so on. And it occurred to me that 
maybe these expressions were liter- 
al os well as metaphoricaL" 

He began to think about revers- 
ing perspective: Instead of having 
lines converging at an imaginary 
point of the horizon, they could 
converge in the viewer’s eye. It was 
an experimental twist that, he felt, 
should involve the viewer in the 
picture. He achieved it photo- 
graphically by moving around his 
subject and taking pictures from 
different angles. 

“If you make perspective re- 
versed, it must mean the viewer is 
moving, because you are seeing all 
sides of an object. The old, f amiliar 
perspective, on ihe other Hand, 
means the viewer is standing still. 
In fact, it might even, ultimately, 
mean the viewer is not there I won- 
der if that is having a psychological 
effect on us: the fact that we are 
seeing something as though we 
were not there?” 

He began to think that, while it 
may seem obvious that when you 
point your camera at something it 
records what is in front of it, “in a 
sense it doesn't: The most interest- 
ing thing of all. out there, in front 
of the camera, is space, our feeling 
of space and or ourselves in space 
— but the camera does not depict 
space." 

One day he came across The 
Fourth Dimension and Non-Eu- 
didian Geometry in Modern Art" 
by Linda Henderson (Princeton 
University). “It sounds like some- 
thing nobody would want to pick 
up — but I couldn't put it down, 
actually.” It dealt with the impact 
on early 20th-century Russian and 
Western European artists of the 
mathematical notion of more than 
three dimensions. Hockney wrote 
to Henderson, who replied that she 
had been amazed at the number of 
artists still interested in the idea of 
extra dimensions. In Hockney’s 
work, be came to realize, the extra 
dimension he was inserting into his 
photographic experiments was the 
time factor, as he had at first sup- 
posed — a dimension that implies 
that the viewer is moving through 
the scene. Henderson’s book, he 
said, made him look differently at 
Cubist and Constructivist work — 
he began to find them more inter- 
esting. 

At about this stage in his work, 
he was contacted by Vogue's pub- 
lisher, Jean Poniatowski, with the 
proposal that he be the magazine's 
annual guest in its lavish Christmas 
issue. “At Gist I nearly said no. I 
don't really know much about fash- 
ion. Bui then it occurred to me that 
Vqgue is a magazine full of photo- 
graphs — in other words, full of 


one-point-perspective pictures.. 
And I thought I could do a sort of 
visual essay trying to alter that 
idea, and making the point with 

photography.” 

He realized be could not express 
himself in the manner of the books 
be had been reading; the tone 
would have to be playful. 

“The subject is difficult, and if 
you talk about it drily, I don't sup- 
pose anybody would read iL So you 
have to make it entertaining, which 

I don’t mind doing. That’s my 
weakness, I suppose.” He laughed 
before adding, “Or my strength.” 

Hockney did 15 works, inducting 

I I photo pieces, for Vogue (they 
also used two earlier photo works) 
— but he said he thought he would 
not continue this sort of thing: He 
wants to get back to painting. 

The hold where he was staying 
was apparently going through 
heavy remodeling; the hall had 
been full of noise during the con- 
versation. Hockney had not 
seemed to pay any attention to the 
blows that thumped through the 
ceding above. When this was men- 
tioned, he pointed to the hearing 
aids in both his ears. 

Tm going deaf,” he said, mat- 
ter-of-factiy. “It’s hereditary. My 
father started going deaf at the age 
of 40, and by the time he was 70 he 
was stone deaf. I sometimes won- 
der whether my interest in these 
questions of perspective is not 
prompted by this loss of hearing. 
You do construct the space around 
you with your ears, too, not only 
your eyes — though most of tin 
time you are not aware of iL And I 
suppose I may be trying to com- 
pensate my failing sense of hearing 
by using my eyes more, and by 
multiplying my perception of space 
through visual means.” 

David Hockney, Galena Claude 
Bernard, 7 Rue des Beaux-Arts, 
through Jan. 15. 



Rome’s Italian Masters’ 
Are Superbly Instructive 


David Hockney’s portrait of his mother. 


By Edith Schloss 

R OME — After the post-mod- 
ern kitsch and fashion art of- 
fered recently in the more aggres- 
sive galleries here, some serious and 
profound exhibitions are like a 
drink of fresh water. 

The Oca galleiys “Italian Mas- 
ters of the Twenties,” in drawings 
and sculpture reliefs, are superbly 
instructive: Giorgio Morandi's 
pencil drawings, so restrained, so 
pared down to essential line as to 
be almost abstract, yet shimm ering 
with hidden light; agitated pen 
drawings of women and roses by 
Scipione; feathery fluid drawings 
of nude boys and roses by Filippo 
de Pisis. 

An early pastel by Diacomo 
H a l la — before be became a Futur- 
ist — of a woman painting out- 
doors is suffused with sunlight. 
There are energetic drawings by 
Umberto Boccioni in ink. charcoals 
by Carlo Carra. Mario Sironi and 
Gino SeverinL A witty relief in 
wood is by Fortunato Depero, and 
a stone relief of a still life is by lvo 
PannaggL A marble mosaic by Fi- 
lia Oriani Rosso, with hide air- 
planes that look as if they were 
made of marzipan, is typical of 
train-station decor in the 1920s, 
This finely selected survey vividly 
brings back a recent past when art- 
ist were inquisitive, positive about 
the world that surrounded them, 
highly trained and dedicated. 

Galleria deO'Oca. via deO’Oca 41, 
through Dec. 31. 

a 

Abstraction is still alive and well 
hereabouts. One of its brightest 
and newest forms is is practiced by 
Enrico Gaffian. In his paintings 
and drawings be works wonders 
with the play of white on white: 
Veils of white brushmarfcs overlap 
with other layers of white, or are 
delicately erased, or thicker paint is 
molded by the spatula into Idling 


Islamic Market Slump Increasingly Evident With Dubai Sale 


I 


International Herald Tribune 

SLAMIC art has been going 
through a difficult pass since 
June. This month the situation 
worsened: Sotheby’s suffered a hu- 
miliating defeat and the director of 
its Islamic department. Jack 
Franses, was asked to resign. 

For months the Islamic depart- 
ment had been trumpeting “the 
most important sale of its kind ever 
held in die Middle East,” adding in 
a color pamphlet that “the world 

SOUREN MELIKIAN 


INTERNATIONAL 
ART E XHIB ITIONS 

PARIS 

GAUERIE MERMOZ 


PRE-COLUMBIAN ART 

.6, Rue JearvMermoz, 75008 PARIS. Tel.: 43J59.82.44 


DAVID HOCKNEY 

“Images et pensees pour le magazine VOGUE, Paris” • 

from December 10 1985 to January 15 1966. 

GALERIE CLAE DE-BERNARD 

7-9, rue des Beaux-Arts, Paris 6* - Tel. 43.26.97.07. . 


a 


F= WALLY FINDLAY =^i 

Galleries International 

new yorfc - Chic a go - palm beach 
beverly hilU - pans 

2 Ave. Mctignon - Paris 8 th 

T«Ll 47.25.70.74. 1 


10 tun. to 1 pan. - 13a to 7 pan. 

EXHIBITION 

GANINER 

Permanent exhfoition of 
ADAMOFF, ARDSSONE, AUGE, 
BOLfDET, BOURKE, CANU, 
CASSK5NGUL, CHAURAY, DUCAIRE, 
ETEL, FABIEN, GALL, GAVEAU, 

Goram, hambourg, herbo, 
KBME, KLUGE, LE PHO, MAIK, 
MICHBL-HENRY, MIUNKOV, NESS), 
NEUQUELMAN, SEflIRE, S1MBARI, 
THOM AS. VIGNOtfS, VO LiH. 

A. VEAL-QUADRAS: Portraits 
BA1ARJN: Sculptures 

Hotel George V- 47.23.54.00 
31 Ave. George-V - Peris 8th 

MilM.idllOJOan.lulSOtatw 
Snada)i aid Mumkif 7 la 4 fiB. 


'ART EXHIBITIONS’ 
"ANTIQUES’* 
"AUCTION SALES” 

appear 


— musIe RODIN 

11 . m * Inane, Ms (7i)- W 
50 DRAWINGS 

RODIN 

From Hw Mcond vokmto of 

L’INVENTAIRE 

daily oxcart Tuesday, 1 0 am. - 5 ujn. 

— DECEMBER 21 - MARCH 17 


[? GAUERIE MARION MEYER 71 

15, rue Gu6n€gaud |6*J. 

Tel: 44.33.04.38 


RAY 

Lithographs 

Until January 31 = 


PARIS/ NEW YORK 


has rarely seen a more impressive 
collection of Islamic and European 
an than wiD be sold by auction at 
the Dubai International Trade 
Centre in December.” 

But after the Dec. 3 sale there 
was not even a press release stating 
the total sold and the percentage or 
bought-in works. The Islamic de- 
partment, when pressed, would say 
only that $1 J million worth of art 
had been sold (the sale was con- 
ducted in dollars). Well-placed 
sources put the failure rate at 
around 10 percent or more. 

Only one area did well: coins. 
Virtually all sold at or above the 
estimated prices. Sources said near- 
ly half the aims were sold — mirac- 
ulously; it is hard to think of any- 
body wiQing to top the $5,300 bid 
that won an “Arabian Sword 
(Shamsir) dated AH 1337/1918 
AD” (all prices are exclusive of 
sales charge). Sotheby’s specialist, 
Robert Elgood, wrote that the 
sword had a Hungarian blade. He 
did not try to place or date the gold 
hilt, which is faintly In dian in ap- 
pearance. Without the gold locket 
on the leather scabbard, on which 
an Arabic date is engraved, one 
would be hard put to place such a 
piece anywhere in space or time. 

That other arms or pieces of ar- 
mor failed to seD was no surprise, 
given their quality: not far above 
the Oriental-bazaar leveL The 
“Person Steel Helmet I8tb-19th 
century . . . with inscription car- 
touches highlighted in silver," 
which was estimated to fetch. 
$3,000 to $4,000, might, with lock, 


find a buyer at a Western auction at 
31,500. It was bought in. 

Going on to objets d’art — winch 
the sources said had a higher failure 
rate — one was struck by the huge 
estimates. The few pieces that sold 
did fantastically well for what they 
were. A hexagonal piece of furni- 
ture attempting to copy a well- 
known 14th-century type admira- 
bly represented in the Museum of 
Islamic Art in Cairo sold for a 
stupendous $38,000. It belongs to a 
category made for 19th-century 
European tourists in the bazaars of 
Cairo and Damascus. 

Sotheby’s estimates on rugs were 
even more inflated. The day when 
bidders are prepared to offer $1 
milli on to S2J5 million for a Tabriz 
carpet of fll-defined style and peri- 
od seems remote, even if there are 
really 253 million knots, as Soth- 
eby's worked out. International 
trade sources thought that, in the 
best of cases, it might sell for one- 
fourth to one-third of Sotheby’s 
estimate. It was bought in. Dubai 
residents could hardly have been 
unaware of market prices in this 
field; spillover from the Tehran 
market can reach Dubai without 
having to travel via London. In- 
deed, judging from the objects 
Sotheby’s dispatched to Dubai in 
every category (coins apart), and 
the wild reserves it slapped cm 
most, the auction house must have 
assumed that it would be dealing 
with country bumpkins. The com- 
pany forgot that Kuwait is almost 
next door, with its admirable col- 
lection Formed by Sheikh. Naser Sa- 
bah al-Ahmed al-Sabah, now on 
loan to the Kuwaiti national muse- 
um. 

Some people at Sotheby’s, in- 
cluding its Islamic department, re- 
portedly had serious misgivings 
about the sale. They remembered 


— from manuscripts to works of 
art — the reported percentage of 
bought-in works was much higher 
than usual at Sotheby’s; it is 
thought that about 40 percent of 
the items, in value, did not find 
buyers. 

Such miscalculations reflect in. 
part the growing recession that is 
affecting oil-producing countries. 
The market for Islamic art has been 
showing increasing signs of weak- 
ness throughout (he antunm, from 
London and New York to Paris. 

In New York on Nov. 21, some 
fine pieces from Iran and Turkey 
sold below Sotheby’s low-estimate. 
A 14th-century bowl from Iran 
with formalized plants painted in 
black under turquoise glaze was 
knocked down at S650, comparing 
with an estimated $1,000 to $1,500. 
A pair of 16th-century Turkish re- 
vetment tiles decorated with lotus 
and peony blossoms in splendid 
shades of blue went down at 
$1,400. It had been estimated at 
$2,000 to $3,000. A worn but mag- 
nificent panel of red velvet brocade 
from 16th-century Turkey, deco- 
rated- with sun rosettes, was sold at 
the low estimate, $1,200. Hie next 
day prices were lower stQL A lot 
indnding a very rare dish 'from 
Iran, with black-painted motifs un- 
der a deep emerald green glaze, was 
sold to a Syrian-born New York 
collector for $400, compared with 
the estimate of $600 to $900. 

Three days later the experience 
was repeated on a larger scale at 
Christie’s in London. There was no 
chance that a large 10th-century 
bowl from Neyshabur in eastern 


a 17th-century basin from Islamic 
India, of a type no one could recall 
having seen in the market. It wait 
up to £4300, tripling its estimate. 

Among other indications that 
the market for Islamic art is in a 
difficult period, Christie's no long- 
er times its sales in conjunction 
with Sotheby’s but combines in one 
session. “Islamic, Indian and 
South-East Asian” art, which tones 
down the damage done to the com- 
pany's image should too many 
works fail to reach their reserves. 

Most significant is the London 
auction houses' reluctance to han- 
dle works of art with a modest 
market value. Last Monday a sale 
of Islamic art conducted by Guy 
Loudmer at Drouot in Pans 
seemed to be heralding a new era. 
To cut down on costs, there was no 
catalog, only a mimeographed list 


and a separate glossy illustrated 
pamphlet with no captions. 

The sale was not an unqualified 
success. A number of items were 
knocked down to a dealer who is 
unlikely to have wanted them for 
stock. It was hard to escape tire 
impression that an attempt was be- 
ing made to sustain the market and 
keep prices at a level few private 
buyers are willing to accept. The 
one big success was, again, for an 
Indian piece: A miniature cata- 
loged as I7th-centiny work from 
Deccan was knocked down at 
70,000 francs ($9,090) to the dealer - 
who bought the -£4,500 basin in 
London. 


flourishes and ridges. All surfaces 
are accented by subtle passages of 
softly running pencil marks and 
line, like the runes of a secret lan- 
guage. 

Gallon's masters, h is plain, 
were Gastone NoveUi and Adult 
Peri Hi. who were also wizards with 
linear quality and also bad a great 
deal of pictorial wit ami intelli- 
gence. 

Gallian knows how to take, 
chances, but his witty turns aqj ‘ 
asides into the unknown always 
work out in the end. His silvery 
surfaces are both diffused ami (te- 
rmed. A minimum of color, a Euro- 
pean finesse, the enticing under- 
statement, make for a tautiy lyrical 
expression. 

“ Enrico Gallian, Paintings and 
Drawings,” GeUcna Underwood. 
Via S. SebastineUo 6, through Dec. 
31. 

□ 

The development of Guido 
Strazza. another abstract paints, 
who has recently become the direc- 
tor of the Italian state Academy of 
Fine Arts, is amply illustrated is 
three exhibitions of his works ap 

^From his earlier, looser work of 
the 1950s and ’60s, through his se- 
vere experiments with pictorial ar- 
rangement in the 70s, to his recent 
more colorful work, there has been 
a steady path. In the early '80s, 
Strazza has been particularly in- 
spired by the Rome around him, 
though his references to Roman 
columns and the pavements in the 
early Roman churches still lead to 
fundamentally abstract images. 

In the most recent paintings, the 
page is divided into even shapes 
that are symmetrical and comple- 
mentary, in which pleasant color 
splashes and fast linear attack, are 
expertly handled. Strazza deploys 
his elements with measure and dis- 
cretion, but it is not in his nature to 
gamble or to leave room for tix 
unpredictable or far levity. Every* 
phase of his development, every 
step in the construction of fate 
works, moves within self-imposed 
bounds. His is an abstraction that 
is coolly balanced and handsome. 

“ Guido Strazza, Works on Pa- 
per," 1955-1970. Galleria 11 Segno, 
via Capo Le Case 4 ; 1970-1980, 
Galleria FArco, via Mario de ’ Fieri 
39 ; 1980-1985, Galleria 11 MiBemo. 
via Borgognona 3: aO through Jan. 
10 . 


Souren Medkian is going on vaca- Games. He 
lion. His next column will appear 
Jan. 25. 


Edith Schloss is a painter and 
critic based in Rome. 

King Gets Olympic Medal 

The Associated Press 
MADRID — King Juan Cariosi 
has been awarded the Olympic Or* 
der Medal for his support of sports 
and for being the only drief of state 
who has participated in Olympic 
Games. He took part in sailing 
races in the 1972 Olympics and is 
still an active sailor and skier. 


A Digest of French Art in Lausanne 


£2,000 to £3,000, nor that a 
inlaid bronze bowl from the same 
area made in about AD. 1200 


By Mavis Guinaxd 

T HIRTY-SEVEN works from 
the collection erf LQa Acbeson 
Wallace, co-founder of Reader's 
Digest magazine, give a quick over- 
view of a century of French paint- 
ing in a show at the Fondation de 
I’ Hermitage in Lausanne. 

Wallace’s choice was highly per- 
sonaL The paintings — from Ma- 
net’s sun-flecked “Woman in a 
Garden” to Braque's “Sunflow- 
ers,” all inherited by Reader’s Di- 
gest on Wallace's death in 1984 — 
are decorative and upbeat. Wallace 
endowed the fresh flower arrange- 
ments in the ball of the Metropoli- 
tan Museum in New York and con- 
tributed to the restoration of 


cant numbers of paintings after 
World War II to furnish the new 
Reader's Digest headquarters in 
PleasantviDe, New York. After a 
Degas pastel “Danseuse Rose” in 
1945, she picked a luminous Cha- 
gall, “The Three Candles." Sedate 
choices of Renoir, Pissarro, 
Georges Seurat or Edouard Vuil- 
lard were balanced by stronger Vla- 
mincks or Bonnards. 

Convinced that people work bet- 
ter in an attractive environment. 
Wallace surrounded Reader's Di- 
gest employees with good art. said 
Fran 


wears protective gear of wood, 
wire, plastic and padding He al- 
ways carries what he calls a pass- 
port that details all his machines 
should any passerby care to ask. 

Panamarenko, a Belgian artist 
who uses only t h at n ame , makes 
machin es and blueprints, in drag- 
onfly or futuristic designs, that 
have been in museums and shox^» 
such as the Centre Pompidou in 
Pans and the S&o Paolo BicnaL His 
only working machine in this show 
is a large, motorized “flying ruck- 
sack,” which he has tried out at the 
Furka pass in Switzerland at 2,430 
meters. 


'ranee Chaves, curator of the col- 
lection, who accompanied h on its 
first public tour. Judy Reiss, her 
assistant, added, “When we took 
down the paintings to pack them, 

wr people protested: ‘Hey, what are 

the auction held last June in Gene- £1.500 and £2,000. A very rare. iron of flowers and gardens.* Among >9° g°i°& do with my Modigha- doodled gently humorous "and 
va lo coincide with the opening of bowl of the early I6lh century, dec- them are a Manet “Nympheas” imaginary Fhtgmaschinen <anw his 


would reach £3,000 to £4,000. They Monet’s garden at Givemy; her 
were bought m at, respectively, collection includes many paintings 


Others dream at their drawing 
boards. Mario Masrini turns oat 
obsessive images of Greek myths 
and labyrinths. Hans Koehler's has 


an Islamic exhibition at the Mns6e 
Rath. The idea of Sotheby’s Swiss, 
venture had been that the exhibi- 
tion's inauguration would attract 
connoisseurs of Islamic art. It did 
indeed, but not for the auction. 
Although the Geneva sale included 
a much larger number of plausible 
items than did the Dubai auction 


“Nymphfeas” 

orated with roundels and calligra-’ that vividly reflects sky, trees and 
phy, carried a more plausible esti- clouds on a pond full of water in- 
mate of £250 to £350 and -was ies; “Anemones” by Matisse, 
knocked down at $180. It was fol- framed but not reflected by the 
lowed by some very fine Safayid dark mirror behind them; a vase of 
vessels made of brass or tinned flowers in cod times by van Gogh; 
copper, which were bought in and and a Cezanne of a glowing poppy 
sold later privately at below the low field under a pure blue sky. 
estimates. The (me real success was Wallace began buying signifi- 


ZABRISKIE 

WILLIAM 

ZORACH 

724 Fifth Ave, New York 

ANDRE 

LEOCAT 

37 rue Quincampoix, Paris 


By David Stevens 

International Herald Tribune 

P i ARIS — Instead of the usual 
boliday-season operetta, two au- 
thentic jewels of 20th-cenmry com- 
ic opera — Ravel's “L'Heure 
EspagnoT and Puccini's “Gianni 
Sdricdn" — have been paired on 
the stage of the Optra Comique, 
and in stagings and musical perfor- 
mances worthy of the works them- 
selves. 

Ravers one-acier, which had its 
world premiere in tire same house 
74 years ago, is above aB a finely 
timed musical clockwork mecha- 
nism, and it benefited more than 
the Puccini from Jean-Louis Mar- 
tinoty’s fastidiously precise stag- 
ing. Martinoty sees the orchestra as 
the repository of Ravel's musical 
humor, so he put it tm stage, 
dressed in white, and occasionally 
had an appropriate instrumentalist 
stand to share a fleeting spotlight 
with the corresponding singer. 

The skeletal action was reduced 
to its irreducible minimum. Tor- 
quetnada’s watchmaker's shop was 
suggested at the stage apron, while 
a path was left through the orches- 
tra for the muleteer Ramiro's end- 
less treks carrying grandfather 
docks until Concepdfa realizes 
that this is the lover she needs. 


There was almost more action in 
the flamboyantly witty contrap- 
tions by the sculptor Arman , whose 
first theater work this is (and whose 
accumulation of clocks is now a 
familiar sight outside the G are 
Saint-Lazare). Dangling from the 
flies are an assembly of broken 
clockworks and musical symbols — 
among them a giant treble clef that 
seems to be shaped from a disused 
mainspring, and a doorframe in the r 

to^bnrepddm’s room. 

Anne Howells was delicious vo- 
cally and as the exasperated wife 
trying to take advantage of her hus- 
band's absence, while Jean-Phi- 
lippe Lafont made a splendid foil 
as the robust, seemingly guileless 
strong man. Thierry Dran as Gon- 
zalve, Jean- Philippe Courtis as In- 
igo and Jacques Loreau as Torque- 
mada completed the smoothly 
integrated cast. 

“Gianni Schicchi" is a different 
matter. Puccini's penultimate op- 
era is a great comic work in a line or 
descent from Verdi's “Falstaff," 
precise in time and place and full of 
varied musical characterization. 

Florence in 1299 was richly con- 
veyed in Hans Schaveraoch’s set 
and Lore Haas's costumes, and 
Martinoty supplied such a richly 


In the Hermitage mansion, the 
paintings have found a well-scaled 
background that shows them to ad- 
vantage. The show goes to London, 
Milan and Paris before returning to 
the Reader's Digest offices, 

“ Chefs d* Oeuvre du Reader's Di- 
gest,” Fondation de FHamkage, 2 
Route du Signal, Lausanne, through 
Jan. IQ London, Wildenstan £ Co., 
New Bond Street, Jan. 15 through 
Fed). 8; Milan, Palazzo Reale. Piaz- 
za del Duomo, Feb. 20 du-ougfi 
March 25; Paris, Musie Marmot- 

detailed set of characters for the whole this is a highly rewardins / f n> ^ ue Lottis-BoiUy, April 8 
avaricious relatives 

Donati that they began to take at- aided no tittle by the fluent con- □ 

tention away from Gianni Schicdu ducting (also in the Ravel) of Mar- The show at Lausanne's Musfe 
-orwjMhawsif tlK title part ceBoftmni. da Arts is the stuff 

had not been acted and sung with Chnstme Barbaux sang Lauret- dreams are made of: dreams erf 
such vocal weight and ironic assur- ta’s famous aria with beguiling pa- fl ying 

Sm ^^S > ^ Bap ^ er m rityoftone, Vincenzo La Scola was Gustav Messmer, 84, is trying to 
While “L’Heure EspMpoT re- a frwsh-voKxd and impetuous Rin- get off the ground of Hs nativc 
qmres no wspenaqn of disbelief, uccto; and a large cast of house LautertaL He has tried wide wines 
"Sduccta does, so u w^ not very Radars filled out the large cast powered by a bicycle, a beHcooS 

■ ■ made from rwo black 

sonahon of the late Bureo Donah Other. performances are scheduled and plastic stretched on wood™ 
take place m the open. But qn, the for fine 22, 23,26, 28, 30 and 31. frames. For dangerous ffighSte 


Two Jewels of 20th-Century Comic Opera Paired in Paris 

tacts for the whole this is a highly rewarding *£"■ Rue 
of the dead . production erf Puccini s one-acter, tiuvu Sh May 11. 


DOONESBURY 

Aum£$cmHtr&7D 

SUPUMERlHE&m!.- 

\ 

~'r. 


i magin ary Fhtgmaschinen «an<y» his 
early work as an aircraft designer. 
Erica Pedretti sculpts balsa, doth 
and glue into nacreous wings, while 
Hanspetor Kamxn twists wire awl 
feathers into flimsy, winged objects. 

”R£ves tPIcane," Music des Arty 
Decoratijs. VHlamont. Lausanne s 
through Feb. 2. 

□ 

Monkeys, magicians, 
and other clockwork dolls will play 
and dan ce to nostalgic tunes in the 
Geneva showrooms erf the watch- 
maker Patck Philippe until the end 
of the year. The 60 awfigru* awfnmn- 
tons and music boxes from, the col- 
lection of Jacqueline and Guido 
Rfflige are here shown forthe ftst 
time. For more than 150 yeais, the 
Rcuge factory has produced music 
Coxes, now turning out a milEon a 
year. 

Patek Philippe, 41 rue du Rhine, 
Geneva, thratgh Dec 28. ’ 

Maris Gulnard is a 
based in Switzerland who. 
m cultural affairs. 


Z.IP0NT flrS ABASH VOC 

mou/mr schooltb.so 

.TDSMM-: fflmfTFORGET 
asms. ABOUT {/$ GUY! 

\ 


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\ 


INTERNATIONAL HERALD TRIBUNE* SATURDAY-SUNDAY, DECEMBER 21-22, 1985 


Page 7 


ADVERTISING SECHON 





M J.} :T7il 


wsmmmmm 


ADVERTISING SECTION 


Economic Development and Expansion 

With oil production on the increase 
again, the Kingdom is now gearing itself 
for the future after a period of 
consolidation. Following the completion 
of massive infrastructural developments, 
greater emphasis is now being put on the 
private sector involvement in industry, 
manufacturing and services. 


Revitalized Economic Plan: 
Challenge for Private 
Sector to Boost Growth 


Saudi Arabia is heading out of the recession which has affected die 
Gulf states since 1981- Its revitalized development plan emphasizes 
seif-help and diversification of the economy. The Kingdom’s 
decision to restore crude oil production to nearly four million 
■' barrels per day — production had fallen ar times to nearly half char 
, figure in the past year — has given a fresh surge of confidence. The 
. .. world's 11th largesr trading nation still suffers a current account 

- deficit of $2? billion for the present fiscal year but — due to more 
.J. normal conditions — wages, prices and rents are falling. Says 
~ V Planning Minister Hisham Nazer: M As a result, the cost of 

!; implementing projects in the Fourth Development Plan (1985-90) 
- ■ will be far lower than they were during the previous plan period. 

This downward flexibility in costs is also suggestive of the 
substantial cost-cutting capacity in the economy, a feature which 
' ; serves the economy well at all times of lower revenue” 

The economy is expected to recover in the fourth plan period for 
a couple of reasons. Compared with the third plan’s final year, 

- when Saudi Arabia was acting as OPECs swing producer, non-oil 
activity is rising and output from oil sectors is higher. The Saudi 

. government wants to see a reduced government role, mote seeps 
; tpward the privatization of such state enterprises as the airline 
. Saudia and the hydrocarbons agency Petromin, and deep cuts in the 
expatriate work force, particularly among those with only manual 
tlrilU. 

With the departure of some 600,000 expatriate workers by 1990, 
a total of 375,000 Saudis will enter the work force for the first time. 

- By the end of the decade, nearly 40,000 mote women are expected 
to be working, an increase of over 30 per cent. The government is 

investing heavily in such traditional occupations for women as 

nursing and teaching in order to serve the needs of Saudi Arabia’s 
youthful and rapidly growing population of over nine million. 

According to the fourth development plan, cocal public spend- 
: ing on civilian and military projects in the five years it covers will 
reach one trillion Saudi riyals ($273 billion). The civilian projects 


mmmmm 


are expected to cost the equivalent of $188 billion, of which nearly 
three-quarters will be dedicated to development agencies. As in the 
third plan, human-resource allocations get cop priority: they will 
account for 27 percent of the total Vocational training, community 
planning, motivation of the young and protection of the environ- 
ment will all receive more attention, now that the basic problems 
of poverty, endemic disease and disability, all covered by previous 
plans, are less critical. 

The Saudi government wants industry’s contribution to. the 
economy to double by 1990, when it will account for some 15 
percent of gross domestic product. To this end, Saudi Arabia’s 
principal trading partners — Japan, the United States, West 
Germany, France; Italy and the United Kingdom — are to be 
encouraged to setup joint ventures that produce the equivalent of 
30 percent of the current value of their exports to Saudi Arabia. 

This 30 p ercent quota, was first mentioned in February 1985 at a 
seminar in Bahrain by Saudi Arabia’s Industry and Electricity 
Minister Sheikh Abdel-Aziz al-Zamil, who estimated that by the 
year 2000 the Kingdom’s imports will have readied the value of 
$75 billion a year at amen t prices, compared do a level of just over 
$33 billion in 1984-85. 

* The new areas of industrial growth highlighted in the plan 
include the heavy industries run by the Saudi Arabian Basic 
-Industries Corporation (SABIQ, the principal government agency 
involved in the petrochemical industry; a new generation of 
downstream petrochemical and metal ventures in which the private 
sector is expected to play a major role; the conti n uation of import 
substitutions, a trend which Iras already made the Kingdom self- 
sufficient in cement and steel; the expansion of non-hydrocarbon 
light industries, and large-scale, regionally based industries set up 
with fellow members of the Gulf Cooperation Council (GCQ. 

The GCC, an economic and defence alliance grouping which 
consists of Saudi Arabia, with Bahrain, Qatar, die United Arab 
Kmirarrs Kuwait and Oman adding another four million consnm- 



' | 

% z 9^ 




Pemref Export Refinery in Yanbu, owned 50/50 by Petromin and Mobil Oil 


as, provides a more attractive market than Saudi Arabia alone, 
whose scattered population is divided betwees east and west and 
whose land mass equals char of Western Europe. 

The government's prime intention is for the private sector to 
take the initiative, but it will continue to provide such incentives 
for local industrial development as lowrcost loans through the 
Saudi Industrial Development Fund (SIDF) based in Riyadh; 
access to industrial zones with subsidized utilities and low rents; 
government preferences in purchasing locally made products; 
customs privileges for new industries; free repatriation of capital 


and profits; and a policy of introducing selective tarifs to protea 
infant industries. Through whar is called the offset program, the 
Saudi government will require large fontign-owned consortiums 
involved in major defence projects to reinvest up to 35 percent of 
the value of their contracts back into high-technology service 
industries in Saudia Arabia. 

The most notable development of recent months is the close 
contact established between the Saudi government and the private 
sector. Among the most vociferous groups of Saudi businessmen 

(Continued on page 9) 


but *: 



I HOTEl C/ ALKgOZAlVL\ j \ 

RJJADH 

RIYADH’S MEETING PLACE 




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' managed by 

.. GUSTAR, HOTELIERS & RESTAURATEURS 
member of 

SWISS INTERNATIONAL HOTELS 



Page 8 


INTERNATIONAL 



TRIBUNE, SATURDAY-SUNDAY, 



ADVERTISING SECTION 


ADVERTISING SECTION 




The Saudi Petrochemical Co. plant (SADAF) in JubaiL 

Oil-Based Revenues 
Increase as 

Production Rises Again 


Saudi Arabia's oil production 
has seen substantial ups and 
downs. From 10-11 million bar- 
rels per da/ after the Iranian 
revolution in 1979, Saudi pro- 
duction dipped to around 2 mil- 
lion barrels per day by mid- 
1985. After bottoming out, 
Saudi oil exports are now mov- 
ing upward. In addition, the 
development of petrochemical 
plants and export refineries has 
increased the Kingdom's range 
of hydrocarbon products. 

Production is now back: to 
over 4 million barrels per day, 
and the consequent increase in 
oil revenues is welcome news co 
the Kingdom, whose produc- 
tion had suffered when ic al- 
most single-handedly carded 
the burden for the Organiza- 
tion of Petroleum Exporting 
Countries (OPEC). The Saudis 
had accepted production cuts 
and served as swing producers, 
but OPEC over-production and 
price discounting continually 


chipped away at the Saudis’ 
market share. This came to a 
halt when the Saudi Minister of 
Petroleum and Mineral Re- 
sources, RE Ahmed Zald Ya- 
mani, secured OPEC approval 
of Saudi netback oil pricing, a 
system which discounts crude 
oil according to the value of 
products refined from it and the 
cost of transporting the oil to 
the customer. Netback deals en- 
abled the Saudis to price their 
Arabian light, medium and 
heavy crude oils competitively 
and led to increased Saudi lift- 
ings. 

In 1984, Arabian American 
Oil Co.’s (Aramco) average oil 
production was 3-94 million 
barrels per day. By mid-1985 
production had dropped to a 22 
million banel-per-day average. 
Production of natural gas liq- 
uids (NGL) from oil field asso- 
ciated and dissolved gases was 
355,059 barrels per day in 1984, 
compared co 330,102 barrels per 


day in 1983- A lot of Aramco 
sales go through its original 
partners: Mobil, Exxon, Stan- 
dard 03 of California (now 
Chevron) and Texaco. They 
were bought out when Saudi 
Arabia nationalized the compa- 
ny, but all maintained dose tics 
with it since then. Aramco’s 
exploration efforts are shared 
by Arabian 03 Company, Ltd., 
a joint venture with the Japa- 
nese, and Getty Oil. 

The General Organization 
for Petroleum and Minerals 
(PETROMIN) handles gov- 
emm en c- co- government deals 
involving liquefied petroleum 
gas (LFG) and crude oiL Sales 
of crude oil during 1984 — 
included in Aramco's lifting to- 
tals — were 1.45 million bands 
per day. Sales have been increas- 
ing this year due to stabilization 
of the oil market and to netback 
pricing on some private sector 
deals. 

Concurrent with tbe increase 


in liftings is the rise in associat- 
ed gas production. This gas oc- 
curs mixed with the petroleum 
in some o3 fields. It was for- 
merly separated from the crude 
and then ''flared” or burned off 
into the atmosphere. Aramco 
invested $12 billion in building 
the Master Gas System, which 
collects this formerly wasted 
gas and uses it as fuel in power 
plants and desalination units, 
feedstock in the Saudi Arabian 
Basic Industries Carp. (SABIC) 
petrochemical plants, and con- 
densation into XJPG. Petromin 
sells LPG to many customers, 
including Japan. 

The Kingdom has considera- 
bly tempered the pace of petro- 
leum development activities 
this past year. Present liftings 
are nowhere near the almost 11 
million bands per day common 
during the boom years. After 
the completion of tbe Master 
Gas System, oil production 
achieved more importance than 
simply generating income. 
Wichout sufficient o3 produc- 
tion, there was, for a while, not 
enough associated gas to pro- 
vide power for ekettitity gener- 
ation or water desalination. In 
addition, as SABIC plants came 
an stream, demand for gas rose. 

Because of this, unassodated 
gas exploitation became a high 
priority. The major field, 
Khuff, on MTMm fVi?c 

year. Yet even though gas for 
fuel is not dependent upon 
pumping ofl, the non-assodat- 
ed gas is dry and has none of the 
more complicated hydrocar- 
bons necessary for LPG. Thus, 
LPG sales are still oil depen- 
dent. P e tromin is respontiblc 
for LPG sales. In 1984, Aram- 
co’s natural gas liquids totaled 
129.3 million bands. 

Oilfield exploration contin- 
ued in the Kingdom, though at 
a slower pace than previously. 
Two new o3 fields were discov- 
ered onshore at Farhah and As- 
sahba, and deeper ofl pools 
were discovered offshore at 
Marjan, Safari! ya, and Zulu! 

In ocher-fields, estimates of 
proven reserves were raised. 
Tbe size of proven gas reserves 
ar Haradh and Shgdgnm was 
extended. Likewise, proven ofl 
reserves were extended ar Faz- 
ran, Hawiyah, and Manx fa. 



We read the pulse of 
Saudi Arabian business ! 
So accurately!! 


BALANCE SHEET AS AT 30.6.1405H 21.3.1985 

Capital & Reserves: SR 3,885 Million 

Deposits: SR 25,333 Million 

Totaf Assets: SR 51,398 Million 



HEAD OFFICE: P.O. Box 1047 - Jeddah - Saudi Arabia 

Tel: (02) 647 4777 Tlx: 401232 - 401006 RYADEX SJ 

LONDON BRANCH: Temple Court, 11 Queen Victoria Street 

London EC4N 4XP, England. Tel: (01) 248 7272. Tlx: 8955154 RIYADL G 


Overall, 22 billion barrels of 
new reserves were discovered, 
which more than compensated 
for the oil pumped during the 
same year. 

Saudi oil exploration, over an 
area of more than 222,000 
square kilometers now gives 
the Kingdom reserves of 166.3 
billion bands of crude, and 
122.7 trillion standard cubic 
feet of gas, enough, say experts, 
to last well into the next cen- 
tury. 

Saudi ofl production primari- 
ly comes from the eastern re- 
gion. Hie famous Dammam 
No. 7, on March 4, 1938, 
marknd the beginning of Saudi 
oil production. The massive 
Ghawar oilfield alone would 
make Saudi Arabia an oil pow- 
er. Bur the Kingdom soon be- 
gan offshore drilling opera- 
tions. The Safaniya offshore 
field was for many years the 
largest offshore oil field in the 
wodd. 

Another important source of 
oil is the neutral zone. The 
Getty Ofl Company secured the 
exploration tights for the Saudi 
half of the oil concession. Since 
then, Getty has accounted for a 
portion of Saudi oil production, 
but exact figures on neutral 
zone production are hard to 
obtain. - 

Outing 1984, some 117 new 
wells were drilled, both on and 
offshore. Of these, 104 were 
development wells, and 13 were 
exploratory. By the end of 1984, 
Aramco was running 23 rigs, of 
which 16 were earmarked for 
development and exploration, 
and seven were allocated for 
workovers. Maintenance of die 
wells is important. Out of 1,700 
wellheads, 1,200 have been pro- 
vided with cathodic protection 
against corrosion. 

The Kingdom is developing 
infrastructure to permit exploi- 
tation of riv» Hamm; Lawfaah, 
and Maharah ail fields. They 
are also working to tap tire 
heavy and medium crude ofl 
that is available from tire Zuhif 
and Marjan oil fields as wdL 

To continue production, and 
to locate new reserves, Aramco 
ran four seismic exploratory 
trips during 1984. This dara 
with additional geological in- 


formation from cote drillings, 
and flow information from 
wells, is entered into Aramco's 
computers. The complicated 
nature of oil field production 
and depletion requires process- 
ing large amounts of data. This 
is necessary to maintain opera- 
tions and still obtain a maxi- 
mum lifespan for the producing 
fields. To handle this data, 
Aramco invested in a Cray 1M- 
4400 Vector Processor, the 

world’s fastest super-computer. 
Ic produces 3-D models of ofl 
fields. 

The result of these efforts is 
continued oil exports. Ports at 
Ras Tan ura and Ju'aymah on 


and pipes onshore grew by 
2,000 kilometers (1240 miles) 
due mainly to acquisition of the 
1,200-kfloraccer East-West Pe- 
troline. Offshore, pipelines 
grew by 300 kilometers. This 
gives the Kingdom more than 
18,800 kilometers of pipelines, 
of up co 60 inches in diameter. 
These include 13,000 kilome- 
ters of flowlines from 2,050 dif- 
ferent wells. Not included in 
this figure are Pcxromin's ex- 
tensive product pipelines which 
convey products inside Yanbu, 
Jubail, and to the major inter- 
national airports. 

The major pipeline, the East- 
West Petroline, was built foe 




Laying the Jubail-Yanbu pipeline. 


the Gulf and Yanbu on the Red 
Sea handle most of the exports. 
These ports loaded 2£58 ships 
in 1984, compared to a high of 
4*000 rankers in 1981. Sales 
were as follows: Africa,. 1.9 per- 
cent; South America, 3-2 per- 
cent; North America, 5.8 per- 
cent; Europe, 20.1 percent; and 
Asia and Australia, 69 percent, 
Although rankers transport 
the crude oil to its eventual 
destination, it moves by pipe- 
line within the Kingdom. 
Aramco's network of flowlines 


Petromin’s Petroline division. 
However, to economize at a 
time when pipeline throughput 
remained low, Aramco was ap- 
pointed to operate and main- 
tain the pipeline. Petxoline's ca- 
pacity, using 11 pump stations, 
is 1.85 million barrels per day. 
Its capacity has been increased 
by 900,000 barrels per day 
through the addition of aparal- 
Id pipeline If pump stations 
are added to the second line, 
capacity will be tbe same as for 
the original Petroline. 


Petroline has assumed great- 
er importance with the con- 
struction of an Iraqi pipeline. 
The Iraqi line has a capacity of 
500,000 barrels per day and con- 
nects with Petroline to ship 
crude oil to the Red Sea port of 
Yanbu. Iraq is seeking to build 
yet another pipeline — paralid 
to the existing Petroline — that 
will carry directly to Tanbu. 
The goal is to bypass tbe war 
zone in the Gulf. 

In addition to crude oil, (he 
Kingdom's petroleum industry 
has a huge domestic refinery 
capacity. Petromin operates do- 
mestic refineries in Riyadh, 
Yanbu and Jeddah. It also has a 
lubricant base oil refinery in 
joint venture with Mobil OiL 
Two export refineries, in joint 
venture with, respectively, Shell 
Oil and Mobil, are in operation. 
A third, with the Greek firm 
Petrols, should be complete in 
either late 1986 or 1987. 

Aramco also operates the 
Ras Tanura Refinery, which 
has been undergoing a modern- 
ization program. The refinery 
added a 250,000 banel-per-dav 
crude unit and a 300 metric- ton- 
per-day sulfur plant. Tbe sulfur 
is ex t r acted from sour (sulfuric- 
acid laden) gas and penolum. 
Aramco also has a 4,000 metric- 
ton- per-day desulfurization 
plant in JuboiL 

In 1984, Aramco produced ' 
141,169,796 barrels of refined 
products and 818,700 metric 
tons of sulfur. Petromin sold 
219-1 million barrels of refined 
products in 1963, the latest year 
for which Petromin has sales 
data. Aramco built the world's 
largest and longest molten liq- 
uid sulfur pipeline from Uth- 
maniyah, Beni and Shedgum 
gas plants. 

Saudi Arabia's hydrocarbon 
industry has matured. From 
simple etude oil sales ic moved 
to LPG and the harnessing of 
associated gas. Refineries pro- 
duce petroleum products for 
domestic use and for export. 
Petrochemical plants now pro- . 
ducc a wide range of products 
from gas feedstock, as fer- 
tilizer, plastics and Chemical'? , 
Horn raw material to finished 
products, Saudi Arabia has die 
hydrocarbon industry covered. 







cJv=iA '00. 1 X 32 




INTERNATIONAL HERAIJJTltotTNE, SATURDAY-STJNDAY, DECEMBER 21-22, 1985 


Page 9 


ADVERTISING SECTION 


ADVERTISING SECTION 


Controlled Expansion at Saudia 


SsnKfia,. tic national aoxEnc of 
Arabia, has one of. die 
most remarkable growth Erodes 
is the hisrory oTxhe dyil avia- 
tion indusay. . 

The airline was estab l ished 
in 19^5 with the gift of one 
Douglas DG3: Dakota to the 
late King Abdukaiz from Presi- 
dent Eranklin D. Roosevelt, 
then President of the United 
StaT^ Erom that tiny begin- 
' ning has emerged, 40 years lat- 
er, the leading airline in the 
Middle East, and one that com- 
pares favorably in performance 1 

toms with many of the airline 
"giants" of the western wodd. 

■ Saudis now carries around 12 
million passengers a year, has 
some 25,000 employees and has 
one of the most modem fleets 
in the airline industry, to which 
. i t jg gelding all the rime. Zc has 
- 21 Boeing 747s, ten of them the 


series 300 "'version with the' 
lengthened upper deck, - two 
•B747F cargoes and 11 Airbus 
Industrie A300-600S, die high" 
technology version of rhfc wide- 
bodied European-made airlin er, 
flown by a two-man flight crew, 
and with a digitalized cockpit : 

Under the direction of its 
direct or^eneral, Sheikh Ahmed 
Mattar, himself a jet pilot,' Sau^ 
dia has adopted a policy of ac- 
quiring aircraft incorporating 
the. latest technological ad- 
vances, and has expanded its 

fleer at a rapid pace. In addition 

■ to the aircraft mentioned above, 
it now has in its inventory 20 
Boeing 737s, 17 Lockheed Tris- 
cars, eight B-707s and a number 
of Gulfstrcam executive jets 
and smaller aircraft. The very 
pace of this expansion has 
brought its problems, notably a 
heavy training program for the 



Captain Ahmed Mattar, S audio’s Director General, report- 
ed that Saudia continued its commendable pattern of growth 
during 1984. Revenue Passenger Kilometers reached yet 
another peak at 15.8 billion. Operating revenues of 7.4 
billion Saudi riyals ($2.07 billion) were 7 percent higher 
•han 1983. The net income for 1984 of 380 million riyals 
-compares with 1983*5 net income of 190 million riyals, and 
-Saudia’s tyrerating income increased to a new peak of 138 
mtilUpnr^als. 


pilots and engineers who fly the 
airaafc, and the engineers i who 
maintain them. The -effect -has 
been to slow down the pace of 
the Saudiization of the airline, 
but this policy remains 1 zlong- 
cenn objective of the manage-, 
ment. 

. At the same rime that. it has 
been increasing its Beet, Saudia 
has embraced computerization 
with enthusiasm, and has wid- 
ened its route network so that it 
flies today to many points in : 
Europe, Asia, Africa, and die 
United Scares — from Dbahran 
to Houston and New Yorfc in 
collaboration with Pan. Ameri- 
can. It also has an extensive 
regional network throughout 
the Arab world, and. a wide 
network inside the Kingdom 
itself, providing access to 22 
dries and to remote parts in a 
matter of hours rather than days 
as is die case with surface trans- 
portariocL Saudia also plays a 
vital role in carrying pilgrims to 
the holy dries during the Hajj. 
It has the advantage of operat- 
ing our of cwo superb new air- 
ports, one at Jeddah, the other 
at Riyadh, ac both of which it 
has its own terminals. 

The King Abdulaaz airport 
at Jeddah has a special terminal 
for Hajj pilgrims, designed in 
the form of a vast desert cent 
where passengers can wait in 
comfort for their onward jour- 
ney on arrival, or for cheir flight 
home. The magnificent south 
terminal ac the same airport can 
handle 3,600 passengers an 
hour, has 5.500 parking spaces 
reserved for Saudia travelers 
and a sophisticated baggage re- 
trieval system. 

The expansion of Saudia has , 
always been seen as an integral 
part of the development of the 
Kingdom of Saudia Arabia, and 
die airline has never lacked the 
funds to service its growth. As 
the nation’s flag-carrier, it is its 
gmhacwW abroad, and to diis 
end chere is a training program 
foe country management, a 
comprehensive 30-month 
course which produces highly 
qualified candidates for. posi- 
tions such , as airport services 
managers and dry ticker office 
-managers. Saudia has over 60 
stations on its network, 40 of 
them overseas. The airline does. 


iAMA’s Role Helps to 
iteady Money Market 


^rram its new headquarters in 
Riyadh, the Saudi Arabian 
vfonetaiy Agency is quiedy 
priding the Kingdom’s finan- 
ial system through a period of 
peat change. 

Its chief is Governor Hamad 
Jayyari, a man of few words 
vho, aware of SAMA’s semen- 
bus influence, approaches de- 
isioos with caution and a sense 
if responsibility. SAMA’s has a 
listinct aversion to rocking the 
rodd financial boat. Any quick 
kstwdown of its reserves, csri- 
oated at $100 billion, can send 
hock waves through the world 
conomic markets. At one time, 
AMA’s concern was unoberu- 
ive investment of excess petro- 
ollirs. Now, die opposite is 
rue, but the same study low- 
ey approach is required. 

As pan of its effort to recydc 
*e petrodollars that flooded 
to the Kingdom during the 
^ *70s, SAMA invested large 
nounts in foreign currencies 
id securities. According to rc- 
ible sources, SAMA at one 
ne held $140 billion By Au- 
«st of 1984, the amount fell to 
litde over $100 billion. Lower 
on anticipated oil revenues 
■vc forced a continued dnw- 
wn of reserves. 

But drawdowns tell only pan 
the SAMA story. SAMA is 
sponsible for overseeing the 
mgdom's banks. It has acted 
riftfy to put interest-free gov- 
iment deposits in banks hav- 
3 difficulties, SAMA au cho- 
rd the Saudi Investment 
nk (SA1B) to change its 
me from Saudi Investment 
nking Corp. (SEBC) and trow 
□nits it to engage in retail 


banking. Banking control is 
h -pndlrrl by J am mar. S nhmaim i. 

The Kingdom’s 11 commer- 
cial hanks are going through a 
period of adjustment. Many 
banks took on risky loans in the 
mad rush to make loans during 
the oil boom. Now they are 
paying the price. 

SAMA recently issued a cir- 
cular char requires all banks to 
report their non-performing 
loons as either unpaid over six 
months, or unpaid for over a 
year. This will give SAMA data 
on the state of the loan market. 

In the past year, SAMA has 
moved toward on creating a 
Saudi stock market. It now pub- 
lishes a weekly tabulation of 
Saudi stocks and their move- 
ment. The Kingdom’s commer- 
cial banks established a compa- 
ny to register shares and record 
their sales. Banks were also au- 
thorized to broker stock deals. 

A major innovation is SA- 
MA’s new automatic check- 
clearing system. By using mag- 
netically encoded checks, 
SAMA will reduce the time 
required for clearing checks. 
When this system comes on- 
line in early 1986, a few months 
will be required for complete 
changeover. Afterwards, checks 
will dear in days instead of 
weeks, with fewer errors and 
less manpower. 

SAMA has admitted the Al- 
Rajhi Company to Currency 
Exchange and Commerce into 
the new clearing system as welL 
This raised a few eyebrows 
among the Kingdom's bankers 
because it confers a quasi-bank 
scams on the Al-Rajhi Compa- 


ny, the country’s hugest money 
exchanger. 

Al-Rajhi Company to Cur- 
rency Exchange and Commerce 
will also be the first money 
’exchanger to be changed into a 
bank After the collapse of one 
money exchanger, SAMA re- 
quired all money exchangees to 
submit financial-reports and re- 
frain from taking current ac- 
counts. Al-Rajhi Company to 
Currency Exchange then decid- 
ed to become an Islamic bank 
The transition should rake 
place in early 1966. Other ex- 
changers are waiting to see how 
it works our, since some of 
them intend to convert into 
banks themselves. 

SAMA is presiding over a 
n-«4innlr«rira1 overhaul of retail 
banking habits. It p e r mitted 
Saudi Bri tish Bank and Saudi 
American Bank to install auto- 
matic teller machines (ATMs). 
At first, the operating hours of 
rhffsr; machines were restricted 
to bank hours. Now, SAMA 
permits them to operate until 
10 pm. Other banks intend to 
install them, including Nation- 
al Commercial Bank and Riyad 
Bank, the two largest banks in 
the Kingdom 

The new marble headquar- 
ters, built by Philipp Holz- 
znann, marks a new stage in 
SAMA’s development The big- 
gest problem for SAMA in the 
boom years of the 1970s was 
investing money abroad. Now, 
its attention is -drawn to a ma- 
turing Saudi economy that faces 
technological change and in- 
creased competition. SAMA, 
under Governor Sayyari, in- 
tends to meet those challenges. 


0 






however, have to compete with 
other fast-expanding Saudi 
Jugh-tech industries to ‘talent- 
ed young people coming out of 
to .country's technical colleges 
arid universities. One attraction 
to potential candidates is that 
the airline sends same young 
people abroad, and particularly 
to the United States, for a. spell 
of technical training. 

The airline's .management 
does not forget die position 
into which it fell in die middle 
1970s when [c was expanding at 

such a. race chat the demands 
made oo its services became 
almost ovcrwhdmihg By chat 
time, it was very , difficult ,for 
Saudia to recruit sufficient qual- 
ified staff to. keep its business 
running efficiently.; The policy 
in the airlin e's third five-year 
plan, for 1990-84, was to take its 
time and go to a controlled, 
rather than explosive, expan- 
sion. 

The current five-year plan, 
continues this careful policy, 
with Saudia continuing to 
gtow. 


Revitalized 
Economic Plan 


(Continued from page 7) 

are the contractors. Ac a March 
meeting of the Saudi Business- 
men’s Group in Riyadh, attend- 
ed by KingFahd, Saudi compa- 
nies called for local companies 
to take on all building work 
They also called to an end to 
the system of turnkey contract 
awards so that local companies 
could bid for smaller padcagesL 

Says Sheikh .Ahmed al-Mas- 
soud, general manager of the 
Manazil Contracting Company 
of Jeddah: "There are now a 
number of Saudi companies — 
and I am talking about Jeddah 
— which are as big as any of the 
foreign companies. They can do 
the same jobs just as well After 
10 years experience of foreign 
companies we do now have the 
same capabilities to do the con- 
struction week as well as for- 
eign companies.” 

The Saudi contractors have 
been helped by a measure intro- 
duced in 1963 under which for- 


eign contractors must subcon- 
tract 30 percent of the value of a 
government contract to local 
subcontractors. Many Saudi 
companies would like die defi- 
nition of a Saudi company wid- 
ened to include to joint ven- 
ture. Says Roger Voegcle, 
contract director of the Riyadh- 
based Hazar Establishment for 
Trading: "By disqualifying Sau- 
di products and materials made 
by a mixed joint venture, both 
contractor and Saudi suppliers 
are suffering. There are 1,800 
factories operating in Saudi 
Arabia; one third of them are 
foreign joint ventures, but all 
are excluded from favored treat- 
ment.” 

According to Mr. Voegde, 
the big change over two years 
ago, when the 30 percent rule 
was introduced, is that now lo- 
cal availability of raw materials 
and new and used equipment 
has improved. In the fields of 
petrochemicals, plastic raw 
products, steel, minerals and ag- 


ricultural output, local capacity 
has come on stream. High- and 
low-density polyethylene, ethyl- 
ene, ethylene glycol, PVC and 
VMC, methanol, styrene, caus- 
tic soda and sulphuric acid are 
all locally produced or will 
shortly be locally produced in 
Saudi Arabia or neighboring 
GCC stares. These facilities 
provide a basis from which 
many of the downstream pro- 
jects featured in the fourth plan 
can start before 1990. 

On the whole, foreign con- 
tractors are happy to work with 
Saudi companies, though chey 
feel that the real test should be 
the competence of to local 
company. Says Ian Reeves, 
chairman and chief executive of 
High Poinr Services Group, of 
to UJO. "The trend interna- 
tionally is toward greater use of 
subcontractors since this in- 
volves syndication of risk” In 
this respect some foreign con- 
tractors working in the King- 
dom would be happy to subcon- 
tract as much as 75 percent of 
the value of a project, provided 
they could still make a profit. 

Of more immediate concern 
to many Saudi companies have 
been measures recently an- 


nounced by to Saudi govern- 
ment ro ease the cash flow of all 
contractors working in the 
Kingdom. In October 1985 the 
Ministry of Enance and Na- 
tional Economy said it would 
no longer be deducting 10 per- 
cent of to value of progress 
payments as a guarantee against 
satisfactory completion of a 
contract. Although to details 
of this decision have yet to be 
made dear, attorney Thomas 
Gallagher of to law firm AJ5. 
Omari in Riyadh commented: 
"This seems to be an important 
recognition by government char 
cash-flow problems are impor- 
tant and in need of solution.” 

For Saudi Arabia, a period of 
adjustment and normalization 
will enable the economy to set- 
tle down to a more measured 
pace, buc the "panaceas” of an 
extra three million barrels a day 
of oil production or a few more 
dollars on the price of oil will 
certainly nor cure all ills, since 
the process of growing into an 
industrial giant will cake time 
as well as money. The fourth 
five-year plan makes an impor- 
tant step in this direction by 
calling on the private sector to 
help boost growth. 



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- -V 

•V ,•_ > v 'V 5 k: v • !• *• \ j 



PROVIDING POWER 
FOR INTERNATIONAL INDUSTRIES. 


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subsidiary of the General Petroleum and Mineral Organi- 
zation {PETROMIN), is a dynamic producer of top quality 
lubricants for automotive, industrial and marine 
applications. These lubricants conform to PETROMlN's 
exclusive formulations, and have been developed from 
base stocks produced by Petromin Lubricating Oil 
Refining Company (LUBEREF). Other PETROMIN local 
Refineries refine, transport and market petroleum 
products including liquified petroleum gas (LPG), NLG, 


motor and aviation gasolines, naptha, aviation turbine 
fuels, diesel fuel, marine diesel oil, fuel oil and asphalt. 
From the additional Export Refineries of PETROMIN, 
production of refined products in demand in the 
international markets are directed towards export, for 
said markets. All these products whether for the local 
market or for the international markets meet highest 
International Quality Standards. 

When you need a world-class supplier of petroleum 
products, think PETROMIN. 



A Progressive National Industry of International Standard. 


Distributed throughout the Kingdom of Saudi Arabia by: 


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Subsidiaries of the General Petroleum and Mineral Organisation iPetromin) 







Page 10 


ADVERTISING SECTION 


INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, DECEMBER 21-22, 1985 — 

AnVERTlSING SECTIO. 



A9BCO 

A COMPANY OF PEOPLE 




P.0. Box 509 ( Riyadh 1 1421, Saudi Arabia, 
Tel: 4774290/4761338/4761322 



The National Commercial Bank in Jeddah. 


New Technology 

Helps Boost Banking Services 


After nearly a decade of heady 
growth and, more recently, a 
period of lower earnings, the 
Saudi Arabian banking system 
is now strengthening its posi- 
tion. The Kingdom’s 11 com- 
mercial banks report lower 
earnings for 1963. Although the 
downturn in profits is no sur- 
prise to some, to others it is a 
healthy sign of the system's 
continuing development. 

"Saudi banking is maturing 
and consolidating,” a Saudi 
banker f* ptainnd. "The system 
is becoming mote sophisticat- 
ed.” Such sophistication im- 
plies lower, albeit stable and 
more predictable earnings, he 
added. 

He isn’t alone in his evalua- 
tion. A popular consensus 
among bankets is that there is 
reason to be optimistic about 
che future. "There shouldn't be 
any crisis of confidence here in 
the Kingdom as regards 
banks,” said an expatriate bank- 
er. "The banks have the full 
support of the central authori- 
ties and they are doing wdl." 

Data compiled by the Saudi 
Arabian Monetary Agency 
(SAMA) tends to confirm bis 
point. The combined balance 
sheets of the 11 commercial 
banks continue to show spec- 
tacular growth. Total assets of 
the 11 commercial banks stood . 
at 233.3 billion Saudi riyals ($64 
billion) as of July 17, 1985, up 


two percent from the same peri- 
od a year ago. 

Loans and advancements 
rose marginally to 62S billion 
riyals while investments made 
by banks increased 28 percent 
to 5.2 billion riyals. Banks also 
increased their placements with 
domestic banks by 10 percent to 
2.9 billion riyals Only custom- 
er deposits fell slightly, to 101.3 
billion riyals 

Besides impressive balance 
sheet figures, banks have con- 
tinued go expand their opera- 
dons This year, for example, 
banks took over the operations 
of the Saudi stock market, and, 
in conjunction with SAMA, 
they are currently introducing 
an automated check-clearing 
system. 

Saudi banks continue to in- 
novate. Riyad Bonk recently 
brought in a new revolving un- 
derwriting facility similar to 
those in Europe and North 
America. However, it marks 
the first time that Saudi banks 
and other financial institutions 
will be able to participate in 
medium-term risks- by signing 
up in success! ve, six-month in- 
tervals; - 

"Banks must be creative 
here," a French banker men- 
tioned. "The market is always 
changing and we have to be 
innovative to march the needs 
of our customers.'’ 

One of the most important 


tasks before banks is to encour- 
age use of their services by Sau- 
dis. "You have to remember 
that banking is still developing 
here," a Saudi banker stated. 
"Less than half of all Saudis 
have hanking accounts. Banks 
have always been looked upon 
with suspicion." 

A Western banker agreed, 
adding, "Banks in the West 
exist to provide services. Here, 
banks are used primarily to 
hold money or issue le tte rs of 
credit." 

To encourage greater bank 
use, both SAMA and the banks 
have taken steps to overcome 
traditional antipathies. Banks 
now accept electricity and tele- 
phone bills, and negotiations 
are continuing over possible 
processing of water bills as 
wdL They have introduced 
ATMs (automated teller ma- 
chines), which have extended 
banking hours and made them 
more convenient. 

All banks, bur especially Sau- 
di American and Saudi British, 
have introduced new and so- 
phisticated ekcronic banking 
services which permit clients to 
-book up to their banks with the 
help of a phone line, modem 
and personal co mpu te r. Credit 
cards have been introduced by 
Saudi Cairo, Saudi French and 
Saudi American banks. 

SAMA has taken the lead in 
making sure that banking ser- 


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trJ :■ 


| The main ground control station for the Arabsat satellites near Riyadh. A second 
station is located near Tums.The stations were built by the Japanese firm NEC and 
are operated for the- in-orbit control of the satellites by an Aerospatiale-led team. 


vices are avai labie to each of the 
Kingdom's citizens. All banks 
have been encouraged to extend 
their branch networks. 

Today, all of the Kingdom’s 
major population centers are 
serviced by banks, and branches 
are appearing in far-flung vil- 
lages as well. The Kingdom has 
570 full-time branches and 38 
seasonal ones, associated with 
the Hajj. 

SAMA has also been instru- 
mental in spreading the use of 
bank services. Next year, all 
govemmenr employees will be 
paid by check. 

Banks have been blamed for 
many of the ills that they now 
face. "Many loans were granted 
during the boom years without 
a full check into the clients* 
background,” one banker con- 
ceded. "There has also been 
inadequate monitoring of loans 
as welL” - 

SAMA has shown leadership 
in the handling of this issue. 
Recently the agency instructed 
all banks to identify die ex t ent 
of bad loans in their portfolios. 
And che agency is putting to- 
gether a loan index' taken from 
the banks' portfolios-to enable 
banks to check on che extent of 
potential b o r r o wer s ’ indebted- 
ness. 

Falling revenues and increas- 
ing expenditures have created 
additional challenges. 

The banks are concentrating 
on cutting costs. Expenditures 
have always been high in the 
Kingdom due to the need to 
pay expatriates more attractive 
salaries and benefits. In addi- 
tion, branch expansion and 
computerization have requited 
massive outlays of capiraL 
Banks have also committed vast 
sums to Saudiizarion programs 
— training qualified Sa udis to 
take over from expaniates. Al- 
though such programs ace 
bound to pay long-term divi- 
dends, the short-term costs are 
high. Nonetheless, all parties 
concerned agree chat the Saudi 
banking system is basically 
sound. 

"The current consolidation 
will give us a chance to «ke 
stock and see where we’re go- 
ing,” a banker noted. "After 
years of growth and uhequalod 
profits, now we can take stock 
and formulate long-range 
goals.” 


Solid Customer Base Keeps 
NCB in the Lead 



Established In 1951 on the 
foundations of an eadier mon- 
ey-broking and foreign ‘ ex- 
change business started in .1938, 
Saudi Arabia’s National Com- 
mercial Bank is the largest pri- 
vate-sector bank in the Middle 
East. With assets of $15.8 bil- 
lion at the end of 1984 and over 
a milli on customers and 169 
branches throughout the King- 
dom (cwt> of them women’s 
branches), NCB is almost twice 
che size of its nearest rival, the 
Riyad Bank. 

Its dominance of the Saudi 
financial market — half of Sau- 
di Arabia's trade finance goes 
through NCB — is reflected in 
the prestigious American-de- 
signed skyscraper headquarters 
in downtown Jeddah- into 
which the bank moved in' mid- 
1984. If Cver there was a build- 
ing chat symbolized Saudi Ara- 


bia’s commercial success in the 
past 13 years, this is Jc. 

The reason for NCB’s 
Strength is its solid customer 
base, which in turn is founded 
on the bank’s careful invest- 
ment polities — both at home 
andabroad and their high re- 
turns. "We keep a dose eye on 
whir the economy is doing,'’ 
explains a senior bonk official. 
"Even back in the early 1980s 
the. .bank .was .asking what 
would- happen if resources dried 
up, whar if debts went bad." 

Such 'cautious planning has 
allowed NCB to thrive ami 
grow despite the . current eco- . 
nomic dhnwe. Next year 23 
new brandies will open. These 
include a third women's 
bnndvThc bank’s presence is 
expanding abroad, -too.- A new 
branch will open in London in 


January to complement those in 
‘ New York, Beirut and Bahrain. 
NCB has repres entative offices 
in Frankfurt, Seoul and Singa- 
pore, and recently opened an- 
other one in Tokyo. 

Hie figures are much the 
same. Customer deposits and 
assets rose substantially in 1984 . 
Though profits were marginal- 
ly down (as was the case with 
most banks around the world), 
they were down far less than 
most of their rivals and were 
srifl worth a healthy $137 mil- 
lion. This year’s figures will be 
published probably in the 
.spring and arc expected to show 
NCB maintaining- its dominant 
position in the Saudi market 
Profits may again be marginally 
down, but asms .wiD grow; de- 
posits should, be ' about the 
same. • 


NCB has investee 
local industrial dev 
notably in the Kanjg 
rochemical Industrie 
in the intemarionj 
NCB’s international 
growing, especial! 
short- term inrerban) 
<kposit market. Its 1 
the international mo 
rose 37 percent last 
currently places saw 
lion daily on die a 
spire this intemaxi 
enoc, NCB is prima 
01 regional' bank 71 
P^eenr domestic di 
plains an NCB ofg 
“““tic deposits drive 
national activity.” 

NCBVtop mana 
well aware chat althc 
pic are beginning ( 

(Continued on e 







INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, DECEMBER 21-22, 1985 


Page 11 


ADVERTISING SECTION 


ADVERTISING SECTION 



56s 



from page. 10) 

con spotis,” . and al- 
' # .wanctp makethe 

,v a^tour.of their savings,” prof- 
- : : ^;dcpchd pidrdy on offering 
customers sufficiently attractive 



products and services. And they 
. know char the competition .is 
going to gee a lot tougher. 

The emphasis now is on new - 
technology and new investment . 
pepduas. Billy electronic batik- - 


ing services should be available 
by the end of 1987. 

Die prospects -of Saudi’s 
number one bank ; are - very 
bright and likely -to remain so 
foe a long time tri come 


Riyad Bank Increasing 
International Outlets 


Riyad Bank 7— Saudi Arabia’s 
second largest — has long been 
characterized by its conserva- 
tive fiscal approach, and char 
image is largely co nfirm ed by 
the hank’s balance shea. 

As of March 21, 1985 — 
Riyad 1 s fiscal calendar coincides 
with the government’s — - more 
chan 57 percent of the bank’s 
assets of 30.5 billion Saudi ri- 
yals ($8.4 billion) were in cash 
on hand car in placements with 
domestic and foreign banks. 
The bank’s loan-to-dqposit ratio 
was a very conservative 39.6 
percent. 

Although the bank’s profits 
for the last fiscal year dropped 
12 p er cen t to 512 million tiyals 
($1402 million) Riyad’ 5 return 
on-assets was still a very high 
1.67 percent. 

Bank officials are confident 
and admit that, given the gener- 
al economic context, Riyad is in 
a good position. "Wc feel fairly 
comfortable with our loan port- 
folio," said one. In addition, 
Riyad Bank is the most liquid 
in the Kingdom and, capital- 
wise, it’s the strongest as wdL” 
Such strength and assets leave 
room for maneuver, he added. 
Nazeeh Souri, Riyadh assistant 
general manager, agrees: 
"There are chances and oppor- 
tunities for Riyad and the ocher 
banks here,” he stared. 'It’s 
true that growth in some sec- 
tors has stabilized but new op- 
portunities ate always being 
created.” 

Mr. Souri said char private 
capital will be needed for im- 
plementing the Boeing Co.’s 
Peace Shield Project, the com- 
prehensive air defense program. 
With its offset projects, some 
have estimated that up to $3 


billion worth of capital will be 
needed. Banks are expected to 
provide up to a quarter of that 
sum. 

Other opportunities include 
maintenance and . operations 
projects as well as die continu- 
ing industrialization of Saudi 
Arabia. For thelatxer,Mr. Souri 
was especially optimistic. "The 
first generation of new indus- 
tries was very complex and very 
structured,” be said. "So it was 
only natural that the govern- 
ment cook the lead in their 
funding. However, in the sec- 
ond and third generations, the 
banks should play a more im- 
portant role. Fm hoc saying. 
that the role of government 
institutions should be eliminat- 
ed. Instead, I think there is no 
reason why there can’t be coop- 
eration between us and the gov- 
ernment aid agencies. After all, 

fhwr aim* and OUTS are the 

same.” 

Mt. Souri em phasised that a 
greater cole for banks in the 
financing of the country’s de- 
velopment is only natural, con- 
sidering the decrease in public 
sector funding and the in- 
creased attention given by the. 
Fourth Five Year Plan to the 
private sector. 

Mr. Souri noted that Riyad, 
while seeking a greater role in 
the domestic marker, is also 
exploring new opportunities in 
rtir international market. 

Andre Van Hove, head of 
Rjyad’s international division, 
agreed, noting: "The major 
concern of Riyad Bank is, and 
will be, the development of the 
Saudi economy. Whenever 
there is a bankable opportunity 
here in the Kingdom, it’s going 
to have the priority. However; 


iris quite obvious that any! bank 
in. the world needs outkts for 
money it collects in depos- 
its. We’re looking foe interna- 
tional outlets/ 1 ' 

■ Ml Van Hove remarked that 
Rjyad’s venture into foreign 
markers has' been' limited' to 
. three main areas. The first is 
placements with foreign banks. 
According to the bank’s year- 
end balance sheer, more chan 

12.4 billion tiyals ($3.4 billion) 
was an account with foreign 
banks as of March 1985. Thar 
sum r epresented nearly 40 per- 
cent of tire tanks total assets. 

- Riyad. is also exploring the 
international syndication field , 
Mr. Van Hove added. The bank 
is already known for .being one 
of the leaders in the Saudi do- 
mestic fifld, he said, having lad, 
or co-kd a number of syndica- 
tions this past year. The bank 
has also introduced a new syn- 
dication tool — a revolving 
credit facility — which will en- 
courage greater participation by 
banks wary of raking nv - 
dinm -reap risks. The new tool 
allows banks and fitianrial insti- 
tutions to participate in succes- 
sive, six-month advances in syn- 
dications. 

■ A third foray into the inter- 
national marker has been 
RiyacPs. overseas expansion. 
The bank already has one 
branch in London and owns 
controlling 1 interest in Gulf 
Riyad Bank of Bahrain. 

Mr. Souri noted that addi- 
tional venues are bring consid- 
ered for new branches. "A deci- 
sion should be taken before too 
long,” he said, adding that sev- 
eral feasibility studies arc cur- 
rently under way. 



al computer to link up with the 
bank. Hexagon operates on any 
IBM-compatible personal com- 
puter. It offers a full range of 
services. Subscribers can use ic 
to check both their domestic 
and foreign savings and check- 
ing accounts. Hexagon can also 
be programmed to issue pay- 
ments to third parties and to 
handle fond transfers. 

Additional products include 
the drafting of letters of credit, 
plus a full range of information 
services. A bank spokesman 
said that Hexagon offers global 
market information, such as 
foreign exchange, precious met- 
als, and stock market quota- 
tions from Tokyo, London and 
Hong Kong. Prices from the 
New York Stock Exchange are 
e xp ected to be carried soon. 

Saudi British, the King- 


dom's seven th-largcsr bank, has 
big hopes for Hexagon. It plans 
to introduce additional services 
for the electronic banking sys- 
tem in the coming years. Next 
year, the service will offer cus- 
tomers the ability to place and 
uplift exchange deposits in and 
outside the Kingdom. By 1987, 
Saudi British plans to offer a 
global securities system, which 
will enable customers to exam- 
ine their foreign and domestic 
portfolios and to trade from the 
comfort of their offices. 

However, security is one of 
the main assets of the Hexagon 
system, bank officials pointed 

out. Hexagon allows its users id 
restrict die entry of their subor- 
dinates to specific accounts. All 
users are given an access num- 
ber and the computer logs all 
use. 


In addition to technological 
advances, Saudi British has a 
reputation for financial sound- 
ness and fiscal conservatism. As 
with all banks in Saudi Arabia, 
its earnings have fallen during 
the pasr two years. 

In spite of the earnings 
downturn, the bank continues 
to register healthy growth. Its 
ratal assets advanced 10 percent 
to 8.1 billion Saudi riyals ($222 
billion) during the first half of 
1985, and customer and other 
deposits climbed 9 percent to 
6.9 billion riyals ($1.9 billion). 

In addition, the bank has 
maintained an active role in the 
Saudi syndication market. Saudi 
British reccndy coded the suc- 
cessful $118.4 million syndica- 
tion for Kemya, a Saudi Basic 
Industries Corporation (SA- 
BIC) company. 


Newest Saudi Bank 


One of the branches of the Saudi British Bank in Riyadh. 


Electronic 
Banking at 
Saudi British 


Saudi British Bank has a reputa- 
tion for technological prowess 
and innovation. It is a joint 
venture b etw e en Saudi share- 
holders and the British Bank of 
the Middle East, one of the 
Hong Kong Bonk Group, and 
was the first financial institu- 
tion in the Kingdom to intro- 
duce automated teller ma- 
chines. 


The hank is enthusiastic 
about Its new Hexagon prod- 
uct, an electronic banking sys- 
tem which allows the user to 
limit employee access in order 
to safeguard corporate security. 
A Saudi British spokesman not- 
ed that die system was devel- 
oped by Hong Kong Bank. Ir 
enables customers who have a 
modem, phone line and person- 


United Saudi Commercial Bonk 
(USCB), the youngest and 
smallest of the Kingdom’s 
XI commercial banks, has ex- 
panded both ics branch network 
and assets in its two years of 
operations. Expansion, howev- 
er, has come at a price. The 
bank reported an operating loss 
of 6.6 million riyals ($L8 mil- 
lion) for the first half of 1965. 
By contrast, the bank earned 
L56 million riyals ($443,000) in 
ics first year of operations. 

USCB Chairman Yousif 
Hamdan Al-Hamdan attributed 
the loss to the bank’s branch 
expansion program. 

"Between June 1964 and 
June 1965, USCB opened seven 
brandies, which was a severe 
strain on resources,” Al-Ham- 
dan explained. "It was recog- 
nized that the costs would im- 
pact on the 1985 results bur ic 
was necessary to improve the 
bank’s rep resen tation in the 
major dries.” 

USCB was created in 1983 
one of the brandies of the last 
three foreign bonks operating 
in the Kingdom. The merger 
partners were quite different. 
Two of the Banks — Banquedu 
Liban ct d’Outre-Mer and Bank 
Mclli erf Iran — were located in 
Jeddah. The former was rather 


active in trade financing while 
the latter had been reduced to 
serving pilgrims during the 
Hajj. The third partner — Paid- 
scan’s United Bank limited — 
had an office in Dammam and 
concerned itself with serving 
die needs of the Pakistani expa- 
triate community. 

With the creation of the new 
bank, a head office was opened 
in Riyadh. Since the bank’s in- 
ception, branch expansion has 
been a priority. The bank’s 
three original branches have 
quadrupled in the last two 
years. There are now four each 
in Riyadh and Jeddah, and one 
apiece in Makkah, Madinah, 
Dammam and Al-Khobar. 

Despite a downturn in prof- 
its, the bank’s balance sheet has 
shown spectacular increases. 
Total assets stood at 2.7 billion 
riyals ($750 million) as of 
June 30, 1985, up 44 percent 
from the same period a year 
ago. Loans and advances rose 

47.5 percent to 651 million ri- 
yals ($178.3 million). The 
bank’s contra accounts in- 
creased 88 percent to 1.1 billion 
riyals ($301 million). On the 
credit tide of the ledger, cus- 
tomer and ocher deposits rose 

38.5 percent to 2.1 billion riyals 
($575.3 million). 


The bank’s growth is all the 
more impressive when consid- 
ering the handicaps USCB has 
labored under. One bank offi- 
cial noted that the S a utilization 
of USCB coincided wich the 
consolidation of the Saudi econ- 
omy whereas the ocher banks 
were Saudi i zed during the 
boom years. 

In addition, USCB had to 
create a new management out 
of the three banks ic replaced. 
According to the Saudiizarion 
agreement, each of the founder 
banks retained 10 percent inter- 
est, while Saudi International 
Bank of London, which holds 
the management contract, was 
also given a 10 percent interest. 
The remaining 60 percent of 
the bank’s shares are held by 
the Saudi public. 

Also causing difficulties 
were the facts that there were 
no headquarters staff, no com- 
mon systems or computers, and 
different salary and benefits 
scales. Philosophies of manage- 
ment also differed. 

Finally, the bank has had to 
embark on a costly program of 
Saudiizarion as regards per- 
sonnel 



AJbabtain Group 




tbdul Latif S-Albabtain SBros. 

iAUDI ARABIA 

iENERAL TRADING 

AJbabtain General Trading Co. 

^Distributors of fast moving consumer food products, 
distributors of cigarettes Philip Morris Inc, USA. 
ributors of household, white, gas and electrical 
lucts Inde s it Italy. 

IFACTURING INDUSTRIES 

ibtain Plastic Barrels 
jufacturing Co. 

:ers of plastic containers for the food and chemical 
and for lubricating oils, 
fees from 1 litre to 220 litres capacity 

ig unit is the largest of its type in the 



: iir> Biscuit 
during Co. 


■.» 


Manufa 

Biscuit^ 


Mam 
indus 
Variet 
This 
middle j 


Abdul Latif Albabtain & Bros. Co. 
Albabtain Building, 

King Abdul Aziz Boulevard P.O. Bax 494 
Alkhobar Kingdom of Saudi Arabia 
Telephones: 

(3)8647420/(3)8643075 

Telexes: 

670178 SHROUK 670899 ABISCO SJ 
201896 SHROOK Sj 205 681 ABISCO SJ 



Mam 
canti 
Mam 
Manufe 
largest; 


itain Polyurethane 
Tacturing Co. 

rers of light urethane furniture for hospitals, 
Schools, waiting rooms, etc. 

|srs of waterproofing materials for roofing. 

: of polymethanemsidato^lE^^#ls, the 

■such 




IINIVESTMENW^ ^ 

Albabtain Real Estate Co. 

Spe cialis ts in land and building management^* teKmgdoin 

of Saudi Arabia. ! \ 

** ** ' <. s * 

Albabtain Project 
and Investment Co. 

A dynamic and successful company in real estate and v i Jv 
property management in Europe and USA. ♦ \ - .J. 

FUTURE MANUFACTURING PRQJEOSk^^ 

Food 

Expansion of Food and 

Saudi Arabia. ' '-Zti • 


it of a Polyol Cracker Plant in Saudi Arabia in 
with Upjohn Polymer International Co. USA and 
Espanola SJL Spain. 













Page 12 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, DECEMBER 21-22, 1985 


ADVERTISING SECTION 


advertising section 


Offset Program Key to 
New High-Tech Era 


In spice of the slowdown in its 
economy, Saudi Arabia is likely 
co become the Middle Ease’s 
industrial high-tech center if its 
offset programs come to fru- 
ition as planned It is certainly 
set to become the region’s avia- 
don industry center. 

"Offset" refers to a novel 
method used to generate indus- 
trial investment. Developed, by 
the Saudi Government, the po- 
licy requires contractors to rein- 
vest back into the Kingdom a 
portion of the value erf those 
major contracts they win in in- 
dustrial development 

The Saudis have long been 
concerned about their overde- 
pcndence on oil "We must 
stop being just an oil-based 


economy,” says a senior o ff icial 
from the Ministry of Industry. 
"We have to build up a broad 
industrial base to satisfy our 
own requirements and for ex- 
port Why should we go on 
year after year pumping out the 
oil, just to spend the money on 
imports? Wc can do ic our- 
selves. We have built up the 
best education system in the 
Middle East There are many 
people here with masters’ de- 
grees and doctorates from US. 
and British universities. Their 
skills ace not being used fully." 

What the Saudis lack, how- 
ever, is the technology. To rec- 
tify the situation, the Saudi 
government has thrown itself 
body and soul into the task of 


attracting American, European 
and Japanese companies to set 
up operations in the Kingdom. 
Technology transfer is che 
theme of the 1980s for the 
Saudis. 

Saudi Arabia has already in- 
vested well ova £1? billion 
($10 billion) building up a 
heavy industrial base, mainly 
primary petrochemical plants. 

Now it is looking to capital-and 
energy-intensive high-tech in- 
dustries. The ambitious aim is 
to transform what is still the 
largest importer in die region 
into a high-tech manufacturing 
center of the Middle East. The 
Kingdom is not particularly in- 
terested in labor-intensive pro- 
jects. Saudis "have oil and man- 


WHAT DO THESE COMPANIES 
HAVE IN COMMON? 

SAPPCO Saudi Plastic Products Co. Ltd. 

APLACO Arabian Plastic Manufacturing Co. Ltd. 

SAPTEX Sappco- Texaco Insulation Products Co. Ltd. 

MARCO Manufacturing and Building Co. Ltd. 

GRC (Saudi Arabia) Ltd. 

SAFINCO Saudi Finnish Contracting Co. Ltd. 

ALUPCO Aluminium Products Co. Ltd. 

ARTEC Arabian Technical Contracting & Manufacturing Co. 

STEPCO Steel Products Co. Lt d. 

SAUDI KONE LIFTS LIMITED 

MCE Mechanical Contracting Est. 

SIPCA Saudi International Petroleum Carriers Ltd. 

SAUDI CONTINENTAL INSURANCE CO. E.C. 

NISSAH Health Water Bottling Co. Ltd. 

ACP Arabian Confectionery Products Co. 

FINE Hygienic Paper Factories 
NAPPCO National Packing Products Co. Ltd. 

MEDISERV Modern Medical Equipment Est. 

AICO 

Investing in the Kingdom’s future. 

The Aggad Investment Co. (AICO) was established in 1975 to consolidate the 
interests of it’s chairman, Mr. Omar A. Aggad. in the various entities for which he held 
executive responsibilities. Since that time the group companies have continued to grow 
and forge part of the industrial manufacturing base of the Kingdom. 

All these enterprises strive to achieve excellence in performance, superiority in the 
finished product and a high degree of efficiency utilising all available resources to the 
maximum benefit of employees, shareholders, customers and the community at large. 

In the industrial sector, we have promoted, invested in, and helped to establish only 
sound, economic and ultimately seif-supporting industries which have assumed a foil 
role in the economy and contributed their share in achieving the national objective of 
self-sufficiency. 

Only the latest well-proven technology is used, so that the completed plants are 
second to none in their field. It is certainly gratifying to note that some of these 
industrial plants have on several occasions won distinction in the competition for the 
various Awards for Best Industries organised by the Ministry of Industry and 
Electricity. 


ey bur not much labor” says 
MJL Brislscwn, general manag- 
er of Boeing’s offset program in 

Saudi Arabia. 

Bodqg is Mazing the nail oq 
offset. The Saudi government, 
whose Offset Committee draws 
in officials from all die major 
government caxnomic depart- 
ments, chose the $4.3 billion 
Peace Shield contract for die 
first offset program. Boeing, as 
winner of the $L2 bQljfon con- 
tract for the ground-based air 
defense system in the USAF- 
managed Peace Shield program, 
was obliged, together with its 
subcontractors, to reinvest 35% 
of die technical content of the 
con tract value in Industrial ven- 
tures, sane of which must pro- 
vide products or services for the 
Peace Shield program. General 
Electric Corporation, which 
won the separate $900 million 
Peace Shield radar contract, is 
organizing an independent off- 
set program. 

Together, they should result 
in $900 million worth of invest- 
ment in Saudi Arabia. The 
Boeing team, which comprises 
Boeing, Westinghouse Electric, 
Computer Sciences Corpora- 
tion, and Frank E. Basil Inc, is 
committed to invest $300 mil- 
lion, which the Saudis will 
marrh | AJbr foj dollar. In addi- 
tion to this $ 600 million, GEC 
is reinvesting $150 million as 
its 35 percent commitment, 

which thf Saiirtic again will 

match. If the Saudis expand the 
Peace Shield program, as could 
well be the case, the offset Bud- 
get could be even larger. A 
figure erf $LS billion has been 
mentioned, chough at the mo- 
ment this is pure speculation. 

After investigating 57 possi- 


ble projects, the Boeing team 
and the Saudi Offset Budget 
Committee decided on nine, 
each of- which will be sponsored 
by the Boeing team member 
with the greatest expertise 
These are; 

— An aerospace maintenance, 
repair and support center thar 
will provide total maintenance 
for various types of aircraft 
equipment (Boeing spon-' 
sored). 

— An advanced electronics 
center that will supply commer- 
cial and military electronic 
products and services through- 
out: Saudi Arabia and the Mid- 
dle East (Westinghouse spon- 
sored). 

— A computer systems and ser- 
vices venture (hat will analyze 
and solve local diene problems 
in information systems technol- 
ogy (Computer Science Corp), 

— A di gital n-lfmmmi it tfo 
tions company rhar will pro- 
duce telecommunications 
equipment for both domestic 
consumption and export 
(ITT). 

— A facility for manufacturing 
Boeing Verrol 360 helicopters 
(Boeing). 

— A power enginering center 
(Westinghouse). 

— An applied technology’ cen- 
ter (Boeing). 

— An advanced biotechnology 
c e nfrr thar will establish a seed 
production company (ITT). 

— Production of medical 
equipment and products (spon- 
sor still to be decided). 

The projects will be in two 
phases, but all should be com- 
pleted by the end of 1994. 
Those in the first phase are the 
computer venture, aircraft mod- 


ification, advanced electronics 
and digital communications. 
"Within that phase, die digital 
communications will probably 
be last,” says a Boeing spokes- 
man. The very first to go ahead 
will probably be the computing 
center or aircraft modification 
and maintenance. The rest will 
be in phase two. Of that, "the 
helicopters facility is most like- 
ly the last on e to be done,” 
explains a Boeing official, "it 
depends on the development of 
a vehicle chat does not exist 
yet" 

The sailing, however, is far 
from smooth. The projects, in- 
cluding the GECs offset of an 
engine maintenance center, are 
still at the planning stagt Sec- 
ondly, they will all be private: 
sector joinr ventures. Saudi 
partners have not yet been de- 
finitively identified for all che 
ventures, though the private- 
secrar National Industrializa- 
tion Corp. is almost certain to 
be one of the main Saudi part- 
ners. Furthermore, some of the 
projects in phase two may be 
replaced with others. 

To fund the projects, which 
will be set up as independent 
and separate public companies, 
the Boeing team is committed 
to investing a minimum equity 
holding of 12.5 percenr in each 
project, a total of around $75 
million. Of this, Boeing, with a 
56 percent stake in the group, is 
responsible for $42.75 million; 
Westinghouse, with an 18 per- 
cent stake, $13.5 million; ITT, 
$8-25 million; Basil, $6.75 mil- 
lion; and CSC, $3 million. Sau- 
di partners will a timi^ r 
12.5 percent equity holding 
The remaining 75 percent fund- 
ing will be covered by project 
finance loans, 50 pe r cent by the 


Saudi Industrial Development 
Fund (SIDF) and 25 percent by 
Saudi banks. But it will be debt 
financing. The lenders are not 
CP king any equity. 

Nor is che Saudi govern- 
ment, chough it is pro v,{ ^ n S 
most of the financing through 
SIDF, plus countless invest- 
ment incentives. The loans are 


Saudi -Arabia for the pa* 20 
years, makes the Tornado in 
conjunction with the Italians 
and West Germans. If set up a 
joint venture last summer for 
calibrating instruments on Sau- 
di air force bases. The join: 
venture is called Saudi British 
Aerospace. 

Nothing, however, has as yet 


ment incentives. — r t- -u,; 

® be provided on favorable been deeded ^ Tornado dca, 

toms, imported equipment and offsa projects. 

materials an-ftor to be raxed foregone conclusion dur Br,r- 
and sires being provided is h Aemip.ce sriD be e*abU s h- 


free. Thar will be cheap fuel 
and utilities, subsidies for train- 
ing, funding for studies and 
operations, and tax abatements 
for up to 10 years. 

The Boeing and GEC offsa 
ventures will crearc a major avi- 
ation industry in the Kingdom, 
one designed to service not just 
Saudi requirements but those of 
their allies in che six-member 
Gulf Cooperation Council as 
well. Ic may well extend to 
include Jordan and Iraq. 

The industry will be based at 
Al-Kharj air force base. Both 
the aerospace maintenance and 
support center and the GEC are 
to be built there. But that is not 
alL The equally massive $4.2 
billion contract signed with 
Britain in S e pte m ber for 48 
Tornado Anglo-Italian- German 
fighter planes plus 30 Hawk jet 
trainers is also expected co pro- 
duce an offsa program, much 
of it based on the aerospace 
industry. 

Former UJC. amh agador in 
Saudi Arabia, James Craig, now 
director general of the London- 
based Middle East Association, 
declared after a recent visit to 
the Kingdom, "This Tornado 
deal is going to be bigger than 
anyone thought. Ic is going co 
have tremendous spinoffs.” 

British Aerospace, present in 


ing one, Lf not several, compa- 
nies in the Kingdom, but ir is 
too early to tell what these will 
be. Like Boeing, British Aero- 
space manufactures a wide 
range of aerospace products, 
from aircraft to space sarcllices. 

The matter is being investi- 
gated by the Saudi Offsa Com- 
mittee and the British Ministry 
of Defence, who are the official 
partners in the deal. But as one 
British Aerospace official put ir. 
"Right from the early days, if 
has been soma hi ng very close 
to rheir hearts to start an air- 
craft industry, even just a small 
one like a Cessna-type industry, 
bur to build aircraft in the 
country. Up till now, nothing 
has come of it. Ic seems ro be 
moving toward it now. I think 
we will see something like 
this." 

In view of both deals, there 
will be a major increase in de- 
mand for highly skilled expatri- 
ates to help operate both the 
projects and the offsa ventures. 
London-based ARA Interna- 
tional, one of the leading "head 
hunters” for Saudi companies, 
believes thar che Boeing and 
Tornado deals will result in 
more professionals going out 
on contract to Saudi Arabia 
than at any time since the oil 
boom started. 


More Local Companies Vie 
for Health-Care Business 


@ 

AICO 


We mean business.. ..now, and in the future. 

The Aggad Investment Company 

P.0£dx 2256, Hyadh 11451 Saurf Art*, Tab (01) 4767911, Teierc 200276 AGGAD SJ, Rac |01) 4767895 
73 Brook Street, London W1Y 1YE, England, Tot pi) 4814415, Tetac 25458 G. Fax: {01) 6292348 


Saudi Medical Services (SMS), 
one of the Kingdom’s new di- 
versified medial companies, 
has its rights set on obtaininga 
share of the lucrative health- 
care market 

Health care, an important 
priority for the government of- 
Saudi Arabia, is provided free'of , 
charge to citizens, as is out-of- 
country treatment when indis- 
pensable. As the Kingdom’s 
health-care facilities become 
more sophisticated, however,, 
out-of-country care is becoming 
less necessary. 

Saudi Medical Services con- 
centrates on medical operations 
and maintenance contracts. It 
recently signed nvo contracts 


with die Ministry of Health co 
manage three charity hospitals 
and the King Fahd Hospital In 
Madinah. The three 216-bed 
charity hospitals are located in 
Makkah, Madinah, and Riyadh. 
King Fahd Hospital, a teaching 
hospital has 500 beds. The con-, 
tracts for. all four, hospitals ate 
for three years. 

The three charity hospitals, 
built at a cost of $168.49 mil- 
lion, were taken ova by che 
Ministry of Health at che re- 
quest of the Islamic Welfare 
Society in 1982. 

SMS said it will need to 
bring in 400 new health-care 
personnel to operate the three 
charity hospitals, and 88 new 


Committed to Saudi development 

since 1947 


The Olayan Group has been committed to 
the Kingdom since the 1940’s when we 
participated in the logistics of building the 
Trans- Arabian Pipeline (TAPLINE). Since 
then, we have grown with the Kingdom, 
playing a key role in many of its largest pro- 
jects and pioneering many new busines- 
ses. 

Today, the Olayan Group is a large 
diversified family of companies, each with 
its own professional management, 
involved in trading and marketing, con- 
tracting, transportation, light industry, 
specialized technology and services, 
agriculture, insurance, travel and invest- 
ment. 

International cooperation has been the 
keynote of our development, and we have 
35 years of experience in working closely 
with major international companies. 

In Saudi Arabia there are four main 
groups. 

Olayan Saudi Holding Company 
(OSHCO) coordinates our activities in 
transportation, marketing and distribution 
with several manufacturing subsidiaries 
and associates in maintenance, construc- 
tion and services. Included among its sub- 
sidiaries are: 

• General Trading Company is one of 

Saudi Arabia's major companies mar- 
keting food, cosmetics and household pro- 
ducts. 

• Arabian Health Care Supply Com- 
pany handles the import and distribution of 
medical supplies. 

• OSHCO Industrial Group consists of 
several units manufacturing products in 
collaboration with Kimberly-Clark, Polar- 
pak and MetaJ Box. 

• Olayan Equipment and Automotive 
Group consists of 3 companies: Arabian 
Automotive Company specializing in the 
sale of vehicles, parts and service for 


Jaguar, Land Rover and Austin Rover; 
General Contracting Company which 
handles the import and distribution of 
trucks, power generators, agricultural and 
construction equipment and parts; Atlasco 
specializing in the equipment, parts and 
service of products manufactured by Atlas 
Copco of Sweden. 

• Saudi General Transportation Com- 
pany is engaged in on-highway and off- 
highway transportation. 

• Saudi Forwarding and Transport 
Company acts as freight forwarders and 
customs clearance agents with an 
associate, Al Barrak Shipping Agencies. 

• Arabian Business Machines is 
engaged in the import and distribution of 
office equipment, furniture and security 
equipment. 

• Arabian Telecommunications and 
Electronics Company handles telecom- 
munication equipment from NEC of Japan. 

• Projects and Development Company 

provides services for major construction 
and maintenance projects. This company 
also acts as the OSHCO Group’s vehicle 
for holding joint ventures in the field of con- 
struction, maintenance, training and other 
services. 

• Technical Trading Company and 
MAC Tools are associate companies 
handling building materials and tools. 

Olayan Financing Company (OFC) man- 
ages and operates directly or through its 
subsidiary companies the Group’s indust- 
rial, construction, operation and mainte- 
nance, agriculture and high technology 
activities. The area of operations is wide, 
and ranges from: 


IHOLBAIl 


• Major engineering projects to tugboat 
operations; 

• Manufacturing of civil explosives to PVC 
pipe production; 

• Plant maintenance and operation to oil 
services and suppliers; 

• Aluminium extrusion and fabrication to 
egg production; 

• Farm management to heavy equipment 
rental; 

• Mining and aeronautical survey ser- 
vices. 

Arab Commercial Enterprises (ACE). 

The ACE group is one of the region's 
largest insurance and reinsurance brokers 
and underwriters, and was the first Saudi 
company to enter these businesses. It rep- 
resents several of the world's largest insur- 
ance companies, and rts client list includes 
a large number of the Kingdom's leading 
government agencies and private com- 
panies. In addition, the ACE Group has a 
full sen/ice travel business and. acts as 
General Sales Agents for several leading 
international airlines. 

Olayan Real Estate Company (ORECO) 

holds extensive properties in Saudi Arabia, 
including most of the offices, workshops. . 
warehouses, and other facilities of its sister 
companies. ORECO is also involved in real 
estate development for its own account 

Please contact us in Saudi Arabia, at: 


Olayan Souc* 
HaWhg Company 
P.O.Box 1520 
Al Khobar 31952 
Telephon y 
(03)894-3377 ’ 


Olayan Financing 
Company 
P.O.Box 745 
Al Khobar 31952 
telephone; 
(03)894-8011 


ArabCommefcta . 
ErtterpnSBS Unfed (ACE) 
P-0 Box 356 
Al Khobar 31952 
Telephone: 

(03) 864-1770 


(Further offices are located throughout the 
Kingdom) 

Overseas at: 


Qteyan Group Olayan Group 

605 Fade Avorue 9 Upper Bekirova Stf 

New York. N.Y.l 0022 tixidoaSWIXBBO 
Telephone: Telephone: 

(212)7504800 (01)2354802 


Olayan Group 
206 Synflrou Avenue 
P.O.Box 46 
Alhetw, 17810 Greece 
Telephone: 95B-2515 


personnel tor the King Fahd 
Hospital Because SMS is a Sau- 
di firm, its officials said they 
■will mount an incentive search 
tor qualified Ss»«!i health-care 
professionals to work on the 
projects. SMS is also moving 
directly into health care with its 
new Al Amal hospital, a 300- 
bed hospital being built by 
French contractor Sainrapc a 
Brice near the new Diplomatic 
Quarter. The hospital should 
be completed nocr yea:. 

SMS officials say Al Areal 
(which means "hope" in Ara- 
bic) for tertiary, or die high- 
est, level of care. Ic will be a 
major referral hospital; not only 
for Riyadh, bur far most of die 
country, and possibly most of 
the Middle East. Al Amal will 
have sophisticated specializa- 
tion, and will be aBe-ro handle 
open-hcarr, orthopedic and . 
hand procedures.” • 

The hospital will have ^ 
Dormer kidney stone lichocrip- 
tot, a device that uses shock 
waves to. disintegrate kidney 
scones while in the body. Since 
the pieces are then eliminated 
through die urine, expensive 
and painful Itidney-scone sur- 
gery is rendered obsolete. 

Al Amal will also have a 
nu dear magnetic resonance ma- 
chine; .for delicate and ultra- 
precise examinations of a pa- 
tient’s body, as well as an 
advanced laboratory and first-' 
class accommodation for rela- 
tives of the patient. 

"Al Amal hospital is of such 
magnitude it almost has its own 
existence independent of the 
company (SMS). Ic will be the 
largest proprietary hospital in 
the country, and technological- 
ly, one of the most .advanced in 
the world,” an SMS official 
Slid. SMS was founded in 1981 
to manage, in partnership with 
Charter Medical of the United 
States, the King Khaled Mili- 
tary Hospital at Hafir Al-Batin. 

Saudi Charter then won che 
National Guard Hospital at Al- 
Hada. This was formerly oper- 
ated by .National Medical En- 
terprises. 

In 1984,- SMS began bidding 
oh hospital operations and 
maintenance as a. purely' Saudi 
company. . It won a contract for 
a small 66-bed hospital in Ye- 
men and then began bidding 
aggressively for ocher work in 
die Kingdom. Some hf the con- 
tracts are bid as SsukE Charter, 
and others as purdy-SMS. 

SMS prides itsdf bfi progres- 
sive Saudi! zari on, says its presi- 
dent and managing director Ah- 
mad Ai-SanpussL The company 


-is ■ t ,• 


t£ft 

A i ■' '• 

M0 ; . 




Ahmad Al-Scmomsi, president and managing dir. of SMS. 

says it is one of the Kingdom's with Philip Holzmann of West 
main 100-pcrccnt Saudi-owned Germany. 


medical service companies. 

SMS has several divisions: 
hospital information systems, 
communication systems 
(through a joint venture with 
VSK), and medical equipment 
and supplies. SMS maintains a 
large inventory of supplies in 
two 5,000 square-meter ware- 
houses in Riyadh and Jeddah. 
Domier and Hewlett Packard 


To further Saudiization and 
che maintenance of professional 
medical standards, SMS has es- 
tablished health skill training 
centers. Trainee Inc. and SMS 
established a subsidiary. 
Train ex Saudi Arabia, Led, 

Medical care is big business 
in the Kingdom. Just a few 
short years ago, che field was 


are just two of the firms whose entirely dominated by several 
medical and laboratory equip- large overseas companies. To- 


rn enr is sold and serviced by 
SMS. 

Hospital maintenance and 
suppat services, as distinct 
from operations, is a technical 
service. SMS set up a subsidiary, 
Hospital Maintenance Co., 


day, chat is changing. More 
Saudi firms are competing for 
hospital contracts. Ahmad AJ- 
Sanoussi’s Saudi Medical Ser- 
vices is one of these companies, 
and it is determined ro play a 
role in Saudi health care. 


••• 


Luxury you’ll enjoy. 
Value you’ll appreciate 

No cliches, no platitudes, 
no six-star hotel bills ... 

At Holiday Inns 

in the Kingdom of Saudi Arabia 
we simply offer consistently 

superior products and services 

with no unpleasant surprises. 

Saudi Arabia 

-2L* 


Ti Jeddah 

d: < 2) <*11000. Tei cx 400-55 

T1 Y&nbu 

**3223767. Teles ^ 

Jubail 

°Pcnin g s«on 




* * .;>fea ^ g M tm-7rr 7 : yx -»v . ■ j Ew u wrir *.** 


-'ll-* 


"Ts 


INTERNATIONAL HERALD-TRIBUNE, SATURDAY -SUNDAY, DECEMBER 21-22, 1985 


Page 13 


ADVERTISING SECTION 


ADVERTISING SECTION 


Petromin: Pipeiine to 


y 

J Up nnca tbe 1960s, and even 
7 through the early 1980s, the 
f wodcTs biggest petro-power, 
;1 Saudi Arabia, -found itself im- 
. ^ porting petroleum products £re- 

r. quefldy refi ned from its own 

~ exported crude oil. 

Today, the Kingdom has 
reached product sdf-suffiden- 
rj cy, due mainly to the efforts of 
a the General .Petroleum and 
' : j Mineral Organization (Petro- 
min). Petromin has developed 
V its product refining capabilities 
> through a judicious oombina- 
J don of domestic refineries and 
- £ joint ventures. 

Petromin was established on 
• - December 5, 1962, with '‘a 
' e piece of papa and $200,000” 
says Dr. Abdul Hadi Taher, 
: Governor of Petromin since its 
inception. "My first goal was to 
z gee into the docoestic dismbu- 
l don of petroleum products, and 
then domestic refining. This 

- was in the oil sector. In the 
! mining sector, my goal was to 
*•' ggx into steelmaldng , and in the 
: crude oil sector, it was to get 
\ into the services industry.” 

Petromin began by establish- 
ing die Arabian Drilling Co. 
and the Arabian Geophysical 

* and Surveying Go. (ARGAS). 

* Others followed, including Fe- 
j tzoship and Arabian Marine Pe- 

- troleum Construction Co. 

* (MARINCO). Petromin first 
J took steps to establish the Jed- 

T ■' dah Oil Refinery in 1964. The 
~ Saudi Arabian Refining Co. 
- • • (SARCO) . held the refinery 
’• concession for the Western 


province, so Petromin and 
SARCO loaned a joint venture 
on the refinery. The refinery 
was expanded several rimes. Pc- 


oil refinery. The oil ministers of 
the Gulf Cooperation Council, 
including Bahrain, (he United 
Arab Emirates, Saudi Arabia, 


tromin then. took steps in 1974 Qatar, Oman and Kuwait,, are 


K- . . 


ir ■■■ 


LPG Storage tanks, Pemref Refinery Yanbu. 


to build, the Riyadh Oil Refin- 
ery in order to service die cen- 
tral province. It, too, has been 
expanded A new domestic re- 
finery was opened in 1983 in 
Yanbu as a joint venture be- 
tween Mobil and Petromin. 

Petromin also moved into 
production of lubricants when, 
in 1968, it concluded a joint 
venture agreement with Mobil 
Oil, for the Petxolube blending 
plant. Since then, it has also 
joined with Mobil to build Ln- 
betef I, which refines base oils 
used in lubricants. It is talking 
with Shell about adding a lubri- 
cants unit to the joint venture 
refinery in Jubail, and with Mo- 
bil about building a new base 


also studying the construction 
of a pan-GCC lubricant base-oil 
plant 

Petromin has moved 
forward with three modem oil 
export refineries. Two 250.000 
barrel-per-day refineries are 
complete. In Yanbu, Mobil and 
Petromin have built the Yanbu 
Export Refinery. In Jubail, 
Shell and Petromin have com- 
bined farces. In Rabigh, on the 
Red Sea, Petromin and Petrola 
of Greece are continuing work 
on a 325,000 barrel-per-day ex- 
port refinery. 

Yet for all the interest in 
petrochemicals, Petromin is 
maintaining its efforts in devel- 
oping the Kingdom's mineral 


resources. The. most widely 
publicized of its mining efforts 
is the opening of "King Solo- 
mon's Gold Mines, ” known as 
the Mahd Aldhahah gold mine, 
large deposits oi copper, zinc, 
iron and, recently, phosphates 
have been discovered. Other de- 
poses —of tungsten, lead and 
even cool— have been un- 
earthed as wclL Petromin is 
continuing research on direct 
reduction, a process which uses 
natural gas directly to reduce 
iron ore to caw iron. 

Petromin, in die beginning, 
was also a prime mover behind 
Saudi Arabia’s ttiduCTrialiwrinn ' 
"Naturally, in the eariy stages,” 
Tahtt said, "we wanted to' 
move into petrochemicals and 
the utilization .of natural gas. 
As a result, we established the 
first fertilizer plane, SAFCO.” 

The Saudi Arabian. fertilizer 
Company (SAFCO) was the 
Kingdom's first move sot only 
into petrochemicals, bur into 
natural gas.. The company is 
still a highly profitable manu- 
facturer of fertilizer, sulfur and, 
recently, melamine plastic Bur 
it was transferred to the Saudi 
Arabian Basic Industries Cor- 
poration (SABIQ when the 
latter was created. Tc was just 
like having a child grow up,” 
Taher said. 

SAFCO was the first indus- 
try to use associated gas as a 
feedstock Prior to this, associ- 
ated gas was simply separated 
from the crude and burned or 
"flared off.” Taher and his Pe- 
momin engineers designed a gas 
collection system char could uti- 
lize the gas hydrocarbons in- 
stead of wastefufly burning 
them. 

"The gas gathering system 
was my dream, which is today a 


Hotels Updating Their Facilities 


Ten years ago, Saudi hotels 
were judged by only one criteri- 
on: did they have a room? Busi- 
nessmen slept in hotel lounges 
and/or clustered several to a 
room. Business was great for 
those few horels in operation at 
the beginning of the Saudi oil 
boom. Indeed, the Riyadh In- 
tercontinental Hotel was listed 
in the Guineas Book of World 
Records as the hairiest howl to 
book a room in. 

Today, customers benefit 
from a competitive hotel mar- 
ket. familiar names are seen in 
the Kingdom. Meridien has 
luxury hotels in Jeddah and 
Dammam. Hyatt Regency has 
hotds in Riyadh and Jeddah. 
Marriott operates horels in Ri- 
yadh and Jeddah. Holiday Inn 
has a hotel in J e d dah and in the 
industrial city of Yanbu and is 
opening one soon in JubaiL 
Sheraton operates hotels in sev- 
eral dries including Riyadh and 
the summer capital of Tail The 
Intercontinental Hotel group 
operates hotels in Taif, Ahha 
and Riyadh. It also operates the 
chain of guest palaces built by 
the government to handle im- 


portant state guests. Movcn- 
pick operates hotels in Jeddah 
and Riyadh. Other companies 
and individual hotels have been 
created, so luxury accommoda- 
tions arc available in Makkah, 
Madinah and, increasingly, oth- 
er does as well. 

None of these hotels, ic must 
be pointed out, are owned by . 
die firms whose names they 
bear: I ntercontinental, Shera- 
ton, Gustar, Trusthouse Forte 
and other firms operate hotels 
on management contracts. Mar- 
riott, for instance, runs a hotel 
in Riyadh for the Saudi Hotels 
and Resort Areas Go. (SHAR- 
ACO). 

The advent of hotel overca- 
pacity means that businessmen 
no longer have - to beg for 
rooms. At some of the three- 
scar hotels, these same business- 
men can now bargain for 
rooms, and in general custom- 
ers have several hotels to 
choose from. 

Some of chc Kingdom’s ho- 
tels have taken to cutting 
prices, but most of the five-star 
hotels use discounts for corpo- 
rate accounts and counter com- 


petition with upgraded facili- 
ties. 

Competition has focused 
around large suites and custom- 
er services such as sports dubs 
and restaurants. The Riyadh In- 
tercontinental, for example; is 
nearing completion of a mas- 
sive renovation and construc- 
tion program to rectify any 
weaknesscsit had in these areas. 

.. Businessmen and- delega- 
tions now want bigger suites 
like those .offered by the Inter- 
continental and the Al-Kho- 
zama. The Intercontinental has 
10 luxury .villas which, ar al- 
most $1,800 a night, cover the 
top end of the market. These 
ten villas contain large dining 
rooms, complete catered kitch- 
en facilities, master and alter- 
nate bedrooms, in addition to 
sunken marble baths. The opu- 
lent decors of these villas are 
European, American, Arabic, 
Moroccan, or Chinrar. 

The Intercontinental is now 
completing the renovation of 
its coffee shop and main restau- 
rant. This was considered neces- 
sary, hotel officials say, because 
food and beverage competition 


is fierce. The Hyatt, for in- 
stance, operates several restau- 
rants. The Intercontinental is 
adding a new wing with busi- 
ness suites and meeting areas to 
attract more business custom- 
ers. The addition will also ex- 
pand the hotel's sports facili- 
ties. 

Sports facilities have become 
a- hit item in hoed competition 
and are as important source of 
relaxation. Furthermore, fit- 
ness-minded businessmen are 
becoming more common. 

The Intercontinental is add- 
ing an indoor pool, squash 
courts, and e x e rci se facilities 
specifically for women. Since 
Saudi Arabian tradition re- 
quires the separation of the 
sexes, women today have very 
limited sports outlets. The In- 
tercontinental’s sports facilities 
will therefore be particularly at- 
tractive for women. The sports 
facilities already indude a bowl- 
ing alley, three lighted tennis 
courts, a large pool, a gymnasi- 
um, and sauna. 

Hotels annoc co n tinue com- 

(Continued on page 14) 


-1] rflil 
I ll 




The sign of 
understanding. 

there are branches and offices of The Saudi It shows you that w understand and are 

British Bank Throughout the Kingdom. ready to be^ with yomfinan^it^uuements 

In Al-Kbobar, Damman, Jeddah, Riyadh whether athorne or abroad, no matter how 


}a& is 


and over 20 other branches in the Kingdom. small or large. * , • 

And bleach case, the sign outside And it shows that we understand and 

doesm^ton^mccoor^a.ce. / (A have 

< ’ 0C i. dun, vnu That we understand the f 1 from the personal account holder through 


It shows you that we understand the [ £ 
demands and needs of a fast developing l ^ 
economy and nation. \ - 


to die largest international 
corporation. 




The Saudi British Bank 

The bank that understands 


reality. I hared the flares in the 
mid-1950s and the early 1960s. 
By (he mid-1980s they have 
been eliminated,” Taher said. 
"The project starred in Pcno- 
min, but to organize a twelve 
billion dollar project was too 
much For Petromin. We had to 
use Aram co, Aramco’s four 
partners and a cask force to get 
chat huge project finished.” 

Bur the studies and the basic 
plan which Petromin devised 
for the entire system is the one 
char was implemented, includ- 
ing the East- West pipeline for 
liquefied petroleum gas (LPG) 
and ethane 

Petromin, meanwhile, built 
several produce pipelines co ob- 


viate the hazardous use of 
trucks, and also built the 1.200 
kilometer East-West Petroline, 
which is now carrying, via an 
Iraqi spur, 500,000 barrels pa 
day of Iraqi crude. It is designed 
for 1.85 million barrels a day, 
but is in the final stages of 
adding a parallel fine which 
will raise capacity co nearly 2.6 
million barrels a day. 

With these projects, Pecro- 
min has essentially completed 
chc infrastructure of the King- 
dom’s oil products. In addition 
to the marketing of domestic 
products, Petromin is responsi- 
ble for govenimcnc-to-govem- 
ment sales of crude oil and 
LPG. 


In 1983, Petromin marketed 
531 million barrels of crude, 
and 7.58 million tons of LPG. 
Dr. Taher expects sales to be 
highra this year. 

Saudi Arabia is now largely 
self-sufficient with regard co 
mosr petrochemical products, 
thus reducing the need for new 
refineries or distribution sys- 
tems. 

Accordingly, new Petromin 
projects must face stiff econom- 
ic rests from the very begin- 
ning A 160,000 barrel-pa-day 
refinery in Qassim was post- 
poned after construction had 
started. Finances are tight, and 
Petromin can men domestic 
demand for refined products 


with irs existing domestic refin- 
eries. Furthermore, any imme- 
diate increase in demand could 
be met by the export refineries. 
Qassim will be revived when 
rhe economy is more favorable. 

Another project delayed by 
finances is the Mobil-Petromin- 
joint venture, Lubercf II. Lu- 
beref II may be retendered in 
19S6. Shdl and Petromin are 
still considering the addirion of 
a lube oil unit to the export 
refinery in Jubail. The pan- 
GCC lube base oil plant is an- 
other project waiting in the 
wings. Dr. Taha says thar the 
delayed projects arc not "dead," 
but are held in abeyance until 
conditions are more propitious. 



A H. AL-ZAMIL GROUP OF COMPANIES 
THE LEADING EDGE IN SAUDI ARABIA 

AL ZAMIL REFRIGERATION INDUSTRIES 
ZAMIL STEEL ' 

ZAMIL ALUMINIUM FACTORY * 

ZAMIL MARINE AND CATERING SERVICES 
ZAMIL PLASTICS 
ZAMIL FOODS 
ZAMIL COATINGS 
ZAMIL TRAVEL 
ZAMIL MARBLE 
ZAMIL NAILS AND SCREWS 
ZAMIL COMMERCIAL DIVISION 
ARABIAN GUtF CONSTRUCTION CO 




m£§m 

van. 


Y(-\y-y 


mm: ^ 


ft 


SAUDI ARABIA : ■ P. O. BOX 9. AL-KHOBAR. SAUDI ARABIA. TEL : 864 2784/7794. TLX : 670695 ZAMIL SJ. FAX • 894-9336 
BAHRAIN : P. O. BOX 285, MANAMA, BAHRAIN. TEL : 257503/ 253445. TLX : 8381 ZAMIL BN. FAX : 00973-231 -803 
LONDON : A.H.ALZAMIL&SONS(U.K ). 25 CHESHAM STREET. BELGRAVIA, LONDON SW1.U.K. TEL : 2359395/6/7 
TLX .25328 ZAMIL G, FAX 01-245-6597 

HOUSTON: ALZAMIL COMPANY INC.. 1220AUGUSTADRIVE. SUITE 420. HOUSTON. TEXAS 77057. U.S. A TEL' (713)977-2689. 
TLX : 1 66355 ZAMIL HOU, FAX : 001 -71 3-977-5731 




9 



so 













si 


x^y 




Humber of Tic HoniKtagBaiA Grasp- 






Page 14 


advertising section 


INTERNA TIONAL HERALD TRIBU NE, SATURDAY-SXJNDAY, DECEMBER 21-22, 1985 


advertising section 


Hotel Facilities 


(Continued from page 13) cues for hotels based on tfadr and 94 iwo-srar hotels (3,699 

peting solely on a price basis, ra ° n gi which go from two-star rooms). Riyadh has two five- 

says Raymond Khalifc, regional to deluxe five-star. star hotels and 10 four-scar ho- 

vice preadent of operations for Hoed construction is usually cels, and will gain four new 
Intercontinental. After a while, <kp e n<fcnt upon government- four-scar hotels with 937 rooms, 
he says, price cuts affect quality. Gorcriimenr inccrfest-free eightiditcc-star holds with 977 

This forces competition into 10-year- loans oaver upr to. half - f roofljfc-and one two-star hoed 
the area of quality and service, diecostrfapsoject In^p^ .i ^wid^'tioems. That will boost 

In the bolde for In^I * 

«■** i considered '+M SSBFg " 
c-.j: i i: -ro^gMfsfcar: and three 


scar holds have 7,133 rooms. 
The government has also assist- 
ed in the oonsaucrion of 943 
three-star hotels (7,070 rooms) 
and 94 two-star hotels (3,699 
rooms). Riyadh has two five- 
star hotels and 10 four-scar ho- 
tels, and will gain four new 
four-scar hotels with 937 rooms. 


market is considered riaaffi g) ; - '■ 

• Saudi hoteliers are 

role in deciding 
Hotel comperition ' ■ r&" ekE- ' 

- Kingdom is monitored ti£*he Wctip^-hot^m 
Department of Hoods, ah iiifi tjnies. Cbffltnididd'iar-ifij^^H 
Mimscry of Co m m erce The towns and dries, however; is 
Department of Hotds Directs encouraged, Al-Jaser said, since 
General Abdulaaz A. Atjqser, this is part of the government’s 
oversees government hoceLreg 1 -’ strategy to develop rural areas, 
ularions. His department also Saudi Arabia’s 13 five-star 
approves the construction and hotels, located in Dam mam - A 1 
operation of new hotels, and Khobar, Riyadh, Jeddah, Mak- 
dassifics them. kah, Madinah, and Taif, have a 

The government establishes total of 3,268 rooms. Its 37 four- 


^jmsent capacity of 
tt^jto 45,303 rooms- 
g^Uheaxne home to 

E scans and three 
r with a com- 
iof 897 looms, 
a total capacity 
rooms. This is 
£(&&& were eliminated 
&feit dosure. The 


towns and dries, however; is * feisbira Kravince will gain five 
encouraged, Al-Jaser said, since four-star - establishments and 


Saudi Arabia’s 13 five-scar 
hotels, located in Dammam -Al 
Khobar; Riyadh, Jeddah, Mak- 
kah, Madinah, and Taif, have a 
total of 3,268 rooms. Its 37 four- 


four three-scats, with a com- 
bined capacity of 1,807. Its pre- 
vious capacity was 3,325- 
All of this means chat a regu- 
lar visitor to Saudi Arabia can 
finally count on ge t tin g a good 
room for the night. 


Mabco has manufactured 
over 2,000,000 square metres 
of Concrete Floors. 




VWtookl 2,000 -4gSi 

kilometres of steel strand, 
then prestressed It on 2 kilometres 
of factory production fine, mixed 

53.000 cubic metres of cement and 

180.000 cubic metres of aggregate, 
added a little water and produced 

500.000 tonnes of concrete. I'Ve 
then fad it through our very clever 
machine which extruded 1,600,000 
metres of hollow concrete slab. 


Our many customers 
ig^ were all building different 
projects: car parks, schools, 
shops, housing units, offices, c/infcs, 
hospitals and support buildings, 
which called for various lengths, 5 
metres, 7 metres, 10 metres, even 
14 metres. So we cut our slabs to the 
required lengths, put them on 16,000 
lorries and delivered them, on time, 
to our satisfied customers. 


Now, Imagine what we can do for you! 



MABCO 

MANUFACTURING ABUlDfNG CO LTDl 


For wore Ipforwuuton phwc co«tw^. C^ a iMaM. |ll i # h »a ^i'T>A i> i.M TW , >W! ia»u. 

RIYADH FACTORY: P.O, BOX 52743.'Aftj\DH NV 

■ “ 4 ‘ ’ * # 


MABCO 5]. 





fcy i 



v * ' 








Combine harvesters at work on a farm in Saudi Arabia. 


MMtWtM 


Farming: The Latest Desert Miracle 


The agriculture program is a 
success! The grain silos are 
overflowing, greenhouse vege- 
table production is profitable, 
Hw jjandig actually expon eggs 
to Egypt, and Saudi dudes ate 
providing all of the major dries 
with fresh milk or laban. 

This is the Sau di agricultural 
mi cade. The most spectacular 
success has been in wheat farm- 
ing: Through subsidies, and a 
high purchase price for whear 
(almost flfiQO a m etric ton), 
wheat farming has zoomed in 
the past four years. The upcom- 
ing harvest is e xp ec te d to yield 
L7 milli on tons of grain, twice 
the estimated 850,000 ton-per- 
year consumption of whear in 
the Kingdom. Success has been 
so great that the price paid for 
wheat was cut 60 percent, and 
the government is considering 
putting a lid on wheat pur- 
chases 'from large farming com- 
panies. The government will 


still buy all of the wheat pro- 
duced by the wnall farme rs un- 
der the proposal 

The government now wants 
farmers to branch into ocher 
crops, such as forage The 
Kingdom has immense herds of 
sheep, camd and goats, many of 
which eat imported fodder. Sau- 
di Arabia now has the potential 
of expanding its agricultural 
self-sufficiency even further. 

Agricultural self-sufficiency 
is important to the Kingdom. 
As a strategic necessity in the 
drive for true independence, ic 
receives personal attention 
from nffirio1< as high as King 
Fahd Bin Abdulaziz himself 

The first Saudi agricultural 
success sooty, however, was not 
whear, but the date tree. Before 
whear production even neared 
self-sufficiency levels, the King- 
dom’s fa nn e rc had begun ex- 
porting dates. The dare, togeth- 


er with the milk and meat of 
the camel, was the economic 
mainstay in the desert, and will 
holds a special place in die 
beans of the Saudis. Its impor- 
tance, is such that ir is pan of 
(he nation’s coot of arms — a 
date tree and two crossed 
swords. 

Other agricultural fields at- 
tracting investment and atten- 
tion axe poultry and dairy oper- 
ations. 

Saudi consumption of chick- 
en has skyrocketed. Some 20 
years ago, most Saudis had not 
tasted chicken. Now, Saudis 
consume note chicken per cap- 
ita than many nations in the 
wodd. Large poultry houses, 
which have special temperature 
control to prevent over-heating, 
raise broilers and fryers and also 
produce eggs. AI-Rajhi, Al-Wa- 
tania, Al-Sedais, and Falrieh 
Poultry Farm are some of die 
big names in Saudi poultry. 


Egg-laying operations have . 
proven so successful due, dur- 
ing some seasons, Saudi eggs 
are exported across die Red Sea 
co Egypt or Sudan. 

Saudi Arabian dairy produc- 
tion is only slightly less spectac- 
ular. Dairy farms supply more 
of the Kingdom’s demand for 
fresh milk. In the winter, there 
is even some overproduction. 

Saudi Arabia’s two largest 
dairies are Saudi Arabian Agri- 
cultural Development Co. 
(SAADCO) and Masstock Sau- 
dia Ltd. SAADCO has a large 
integrated dairy operation near 
Riyadh, outside of Al-Kharj, 
with over 8^00 tows. Masstock 
Saudia, a joint venture involv- 
ing the McGudrian brothers of 
Northern Ireland, should have 
around 12,000 cows spread 
around several different dalrW 
by the end of the year. Its hug- 
est dairy has 1,500 animals. 

The Kingdom has a tool of 


approximately- 50,000 . dairy 
cows, say dairymen. SAADCO 
and Masstock Sandra together 
produce perhaps over 70 pa- 
tent of die country's milk; the 
rose is produced by much snuU- 
er dairies. 

Raising cows, like raising 
chickens, depends on tempera- 
ture control. Cows do not die of 
hear prostration as easily as 
chickens -do, but heat stress 
lowers milk yield. The cows are 
sprinkled with water co keep 
them cod. Because milk con- 
sumption drops radically in the 
winter, SAADCO and Mas- 
stock Saudia both have changed 
the calving season from winter 
to summer to raise yield during 
the peak season. 

-Yet for all the calk of fresh 

milk, it is not that big of a idler 

in the Kingdom. The favorite is 
Man, a cultured milk product. 
In the days before refrigeration, 
jahan was made from camel's 
milk so ic would keep longer. 
When the dairies learned that 
more of their milk was being 
taken home and made into la- 
ban, they began producing la- 
ban themselves and found that 
laban outsells ™»Tk five to one. 

Another agricultural endeav- 
or is greenhouse vegetable cul- 
tivation. Saudi farmers grow 
mdons, carrots, tomatoes ami 
cucumbers. A Ministry of Com- 
merce ban an foreign refrigerat- 
ed trucks carrying produce 
raised prices paid domestically 
for fresh produce to the point 
that the greenhouses are now 
making a reasonable return on 
investment: - 

The change is amazing. 
From the air, pivot irrigation 
systems create large circles of 
lush green on what was foemer- 
ly batten desert — evidence of 
the vitality of Saudi Arabia’s 
agricultural program. 


Yanbu: Toward a 20th Century Islamic City 


Since 1977, when the dry’s mas- 
ter plan was completed, Yanbu 
Industrial Gty has g row n up. 
Erst conceived as an industrial 
sister co Jubail on the eastern 
side of the Arabian peninsula, 
die tity is now making a jump 
from primary industries to see- - 
ondary and light industries. •’ 

The lifeline of Yanbu is the 
crude oil and liquefied natural 
gas pipelines from die oil fields 
in the ease. Although mainly 
for export, die oil and gas also 
feed two refineries and a petro- 
chemical plant. 

Progress in the chy has been 
like clockwork In 1981 the 
crude oil export terminal was 
opened, followed in 1982 by the 
NGL terminal. In June 1983 
the first product was delivered 
from the 170^000-barrel-per-day 
Petnamin Domestic Refinery. 

In' July 1984 a second refin- 
ery came on stream, the 

250.000- barrel-pcr-day Pctro- 
min-Mobil Yanbu Export 
(Pemref) Refinery. like the do- 
mestic refinery, the fifty-fifty 
joint venture b e t ween Pctromin 
and Mobil receives light Arabi- 
an crude from the Pemoline oil 
pipeline. 

In December 1984 the 
Yanbu Petrochemicals Compa- 
ny, or Yanpec, brought its 

45 5. 000- ton -per-year ethylene 
unit on stream, followed quick- 
ly by its 205 ,000- ton-per-year 
linear low-density polyethylene 
and 220,000- ton-per-year glycol 

units. 

The primary industry sage 
has come off with hardly a 
hitch. And in some cases, such 
as with the Pemref refinery, the 
start-up was way ahead of 
sc h edule. However, in order for 
the city to be viable, planners 
believe a secondary industry 
must grow down stre am from 
the mega-refineries and chemi- 
cal plants. 

last March, Luhriaol Trans 
Arabian Company, a joint ven- 
ture between Lubrual Corpora- 
tion of the U.S. and Interna- 
tional Chemical and Trading 
Co. of Saudi Arabia, signed a 
contract to built a 3 0,000- ton- 
per-year lubricating oils addi- 
tives plant. The 70-milh'on-riyaI 
plant is sch e duled to begin pro- 
duction by February 1986. 

In lace November another 
contract was signed to build a 
bulk chemical storage renninaL 
The 307-tmHion-nyal facility, a 
joint venture between Mobil 
Oil and three local companies, 


will handle solvents and chemi- 
cals imported to feed local sec- 
ondary industries and refineries, 
especially Yanbu’s future lubri- 
cant additives plants. 

A second lube additives 
. plant; with a licensed capacity 
of 20,000 tons per year; is 
planned by Sakco, a joint ven- 
ture between Yusef Bin Ahmed 
Kanoo Esc and Exxon Saudi 
Arabia. 

But even as the wodefs most 
modem hydrocarbon industries 
pop up in Yanbu Industrial 
Gty, another futuristic devel- 
opment is quietly raking place 
— the contraction of a rwenti- 
etfa-cenruiy Islamic tity. 

Faced with the unique cir- 
cumstances of Saudi Arabia, 
planners have reached back in 
rime to design a modem city 
that matches the harsh rlimarw 
and the intense desire for priva- 
cy among die deeply religious 
Saudis. 

The new dry, ro be con- 
structed in phases over a 20-year 
period, will match cwentiech- 
century needs bxough on by the 
automobile with traditional Is- 
lamic planning. In die residen- 
tial zones, houses are being de- 
signed for privacy, and a 
network of walkways separate 
from roads will connect the 
houses with green belts and 
parks. 

To provide shade in the 
scorching Arabian win, build- 
ings are bring constructed to 
their property lines, forming a 
continuous edge with adjoining 
buildings. 

The view along main city 
streets will lead to the 75-meter 
minaret of the town’s main 
mosque in the downto w n plaza. 
The pedestrian-only plaza will 
hold the most important reli- 
gious, civic, cultural and com- 
mercial facilities such as a li- 
brary, museum and gove rn ment 
buildings, along with the city’s 
main square. 

Downtown along the coast, 
a marina and man-made inlet 
are planned. Offshore, a man- 
made recreational island is be- 
ing built with landscaped pic- 
nic areas, viewpoint and 
beaches. 

Two waterfront parks will 
lie to the north and south of the 
center, and will connect with 
other parks farther away by bi- 
cycle and pedestrian paths. Also 
planned are an underwater ob- 
servation chamber, an aquari- 
um and a planetarium. 


The Pemref Export Refinery processes 250,000 barrels per day of light Arabian crude. 


In Saudi Arabia 

There are four hotels where you will find 
the ultimate in luxury and service. 


RIYADH 

INTER • CONTINENTAL 
HOTEL 


MASSARRAH 
INTER • CONTINENTAL 
HOTEL 




MAKKAH 

INTER -<X)NTINENTAL 
HOTEL 


ABHA 

INTER • CONTINENTAL 
HOTEL 




THE AD^NTAGE IS INTER ’CONTINENTAL 

0 INTER • COISTIINENTAL HOTELS 

For reservations call your nearest Inter-Continental Hotel. 

Abha Tel: 4655000, Makkah Tel: 5434455, Riyadh Tel: 4655000* Taif Teh 7328333 
There are also superb inter-Continental Hotels in Abu Dhabi, A! Ain, Amman, 
Bahrain, Dubai, Muscat and over 80 cities around the world. 
















1 „ , EVTEKNATIONAL HE?IAXD TRIBUN£, SATIJRBAY-SXINDAY, DECEMBER 21-22, 1985 

ADVERTISING SECTION 


Page 15 


ADVERTISING SECTION 


i Partnership for Future Development 


•> udi Arabia’s private scoot is 
* v itiQ called, upon. to contribute ~ 
' rwff rrt the development of the 
■ ■ ticoal economy as oil rcvc- 

- jgs jpd government funding 
_ ocasc The Fourth Erie Year 

an, announced last March,re- 
aredJy stressed the impor- 
ice of greater private sector 

. rolveraenr in the ''fueling’’ of 
* national economy. It com- 
aited: "The Fourth Eve Year 
m introduces a major change 
the respective roles of the 

veconaent and the private sec- 
*. Many of the key goals and 
jectrves of the Plan will be 
lieved through the private 
_tot. In particular, great rdi- 
’ ; :- cc is placed on the private 
‘ -mr to continue the strategy 
, t economic diversification 
v. rough the development of ag- 

- • jolturc, industry and mining." 

And in an interview with a 
.udi newspaper, the King- 

- ai’s Minister of Planning Hi- 
■ am Nazer said that, "Private 
. terprise is already in the mar- 

■ t, we just want it- to bear 
ore responsibility” 

The Saudi private sector has 
d rived in the past decade due 


undoubtedly to generous gov- 
ernment support and funds. Of 
course, the private sector has . 
always been a feature of Saudi 
life. Its roots lie in the early 
traders who linked the outside 
world with the Arabian penin- 
sula —bur only in the lasr few 
years, has the private sector 
aimed to other concerns such 
as industry , manufacturing, . 
transportation and' services. - 
Its development has been 
fostered by a government eager 
to create a healthy private sec- 
tor and stable middle rla«_ Aid 
has been afforded in a number 
of ways. From the beginning of 
the oil boom, the Saudi govern- 
ment channeled large amounts 
of funds into the private sector. 
Businessmen and entrepreneurs 
were offered healthy incentives 
to produce and build. 

The government created var- 
ious. loan agencies such as the 
Saudi Industrial Development 
Fund and the Public Invest- 
ment Fund, which encouraged 
businessmen to take risks in 
real estate, agriculture, manu- 
facturing and trade. Loans were 
provided under extremely le- 


nient terms. The Kingdom, 
however, has provided mote 
than just, financial help to a 
private sector "gifted” with one 
of the finest infrastructures in 
tfae wedd.- Electricity has. been 
introduced into most readies t . 
the Kingdom, and ample, sup- . 
plies' of water are available. A 
vast network of highways how 
.connects the Kingdom's major 
population centos where dirt 
roads ran only years ago. Air- 

pons and seaports have been 
■created. And a fine communica- 
. tions system is now in place. 

Public sector projects have 
spurred growth of die private 
spoor as well The gianr indus- 
trial dries of Yanbu and jubail 
— the biggest public sector 
projects in recent history — 
have spawned countless second- 
ary and tertiary ; factories and 
planes. 

The government has also im- 
plemented a number of direc- 
tives to spur development of 
the private sector. Foreign com- 
panies -have been encouraged to 
set up shop in the Kingdom 
under attractive terms. Foreign 
concerns, which hold public 


projects, have also been man- 
da tod. to purchase 30 percent of 
their needs from Saudi compa- 
nies. And to protect its fledg- 
ling industries, the Kingdom 
has imposed tariffs on certain 
itdms.' • 

The private sector, respond- 
ing well ro government stimuli, 
has produced impressive re- 
sults. In 1983, the government 
reported that there were more 
than 2#® industries in cbe’pri- 
vatc sector, with a total esrimat- 
. ed turnover of $4 billion. A 
Saudi bank, the National Com- 
mercial Bank, is the second 

Largest in the developing wodd. 

A vital middle class has been 
deared and non-oil GNP con- 
tinues to rise due to rapid devel- 
opment of the private sector. 

Although outstripped in size 
by the gianr petrochemical pro- 
jects, the private sector is none- 
theless growing. Commerce, 
trade, construction and services 
are all controlled by the private 
sector. 

Joint venture firms encour- 
aged by the Kingdom have bol- 
stered the private sector and 


contributed to the transfer of 
technology. Today, joint ven- 
ture companies number in the 
thousands. 

The government is also mov- 
ing toward privatizing some of 
the giant public-sector indus- 
tries. Last year, controlling in- 
terest in Saudi Basic Industries 
Corporation (SABIQ was of- 
fered to the public Certain pet-, 
rochemical industries as well as 
pans of Saudia, the national air 
carrier, are expected to be "put 
on the block” as welL 

The National Industrial 
Company (NIC), created in 
November 1984, has also en- 
couraged private sector devel- 
opment. The Company’s activi- 
ties indude the establishment 
of industrial projects, (alone or 
with foreign participation), in- 
vestment in existing industries 
and the creation of projects re- 
lated to industrial services and 
support. 

The government opened up 
capital transfer possibilities by 
creating a stock market under 
the control of both the banks 
and, indirectly, the Saudi Arabi- 
an Monetary Agency (SAMA). 


Joint Ventures 

at Heart of Aggad’s Diversification 


ity 



*4 



£osr of Saudi Arabia’s largest 
jm panics are family affairs, 

• id usually deal in items as 
wed as luxury sports cars and 
-owed tuna fish. The Aggad 
-tvestment Go. (AICO) is dif- 
renti 

Suleiman Olayan had a vahi- 
emptoyee named Omar A 
OT ad, who eventually left, 
ith (Mayan's blessings, ro 
Kind his own company. Aggad 
sisred the urge to represent 
ljand gwy available agency, 
& ja^so doing established 
remarkably integrated cotn- 
L Vny. . • ' 

r '£S Aggad has invested heavily 
I domestic industry. Plastics, 
led, foam insuia- 

Jjq, fa&husues, prefabricated 
■Tn m-fi- buildings, and bottled 
arer arc so m e of the products 
oou&aurcd fay AICO, the 
tocher firm of the 21 Aggad 
xnpanies. 

' AKXTs other lines erf busi- 
es indude oil cankers, insur- 
construction, me chan ic al 
[trading, and elevator sales 
insciBatkxi. .; 

iggarfs first ventures were 
jto. construction, and then 
ling materials. Bur he 


vee re d away from low-technol- 
ogy building products such as 
concrete block and brick fac- 
tories. In 1973, the Saudi Plastic 
Products Co. Ltd. (SAPPCO) 
capitalized at $27.4 milli on be- 
gan production of plastic pipes. 
The Riyadh-based plant had an 
initial production capacity of 
. 200 tons per year of polyvinyl 
chloride (PVQ pipes. Its pro- 
duction capacity is now 38,000 
cons of PVC pipes and 4,200 
tons of polystyrene insulation 
board. 

Aggad had foreseen that the. 
Kingdom’s widespread use of 
PVC pipe for electrical conduits 
and home plumbing would 
v ripen up a large msufecc fix faioi 
-The SAPPCO plant tfiar he 
built later in Dammam has an 
annual capacity of 12,000 tons 
of PVC pipes and 2000 cons of 
high-density PVC pipes. 
SAPPCO entered into a joint 
• venture with Texaco Saudi In- 
vestments Inc^ of Texaco of the 
United Stares. SAPTEX was 
capitalized ar more than $8 mil- 
lion to produce 12 million 
square meters per year of rigid 
polyurethane foam insulation 
board. 


SAPPCO also entered into 
an $11.5 million joint venture 
with George Fischer Ltd., of 
Switzerland, to form Arabian 
Plastic Manufacturing Co. Ltd. 
(APLACO), which produces 
plastic fittings for the construc- 
tion industry. Pipe joints and 
other PVC items complement- 
ed the Aggad line of PVC con- 
struction material 

The otfap push into build- 
ing materials was into alumi- 
num, seed and concrete. Aggad 
looked foe higher value-added 
projects than cement plants, 
and established MABCO 
(Manufacturing & . Building 
Co. Ltd.), a $27.4 million leader 
. jjn. pie-casc t concrete, buildings. 
: GRC (Saudi Arabia) Lei, a 
joint venture between 
MABCO, the Fabad Al-Tobal- 
. shi Group, and PiUb'ngron 
Brothers, of the United King- 
dom, was set up to produce 
gbss-remforced concrete. Saudi 
' Vetonic Co. Led. (SAYETO), a 
Saudi-Fmnish joint venture, 
makes plasters and Concrete ad- 
"’heriyes. SAHNNCO is a Sau- 
di-Finnish joint-venture engi- 
neering and contracting firm 
which rounds off the Aggad 


multi-level approach toward 
concrete construction products. 

Aluminium Products Co. 
Led (ALUPCO) deals in con- 
struction materials, a field in 
which Aggad already had expe- 
rience. . Consequently, 
ALUPCO is one of the King- 
dom’s industrial success stories. 
The Dammam-based company 
manufactures door and window 
frames, railings and other alu- 
minum products in four fac- 
tories. It has one of the largest 
manufacturing plants in the 
Middle East, and one of the 
largest anodizing units in the 
wodd. Aluminium Manufactur- 
ing Ga Led. (ALUMACO) was 
formcly S3ud* Ajax Aluminium 
Cx Ltd, in Jeddah, and was 
purchased to expand market 
coverage. 

Steel Products Co. Ltd 
(STEPQO) is a wed wire-mesh 
manufacturer. Wire mesh is 
used in reinforced concrete, 
which is useful for MABCO. 
The company also produces 
fencing materials, lattice ribs, 
and custom-made steel prod- 
ucts. 

Artec Manufacturing Divi- 


sion produces block cast trrraz- 
zo, a popular construction ma- 
terial in Saudi Arabia. Saudi 
Kone Lifts Ltd supplies eleva- 
tors, further complements to 
the construction materials busi- 
ness of AICO. 

Aggad has chosen wisely in 
consumer products. Facial tis- 
sues and bottled water will al- 
ways be high-demand items in a 
region as hot and dusty as Saudi 
Arabia. Nissah is the King- 
dom's hugest bottled water 
plant. The Riyadh plant pro- 
duces 78 million liters a year. 
Hygienic Paper Factories pro- 
duces the best-selling "fine” 
brand of paper facial tissues, 
toilet paper *nd napkins. . 


J 


V. 


NATIONAL 

INDUSTRIALIZATION 

COMPANY 

(NIC) 


The National Industrialization Company is a 100 
percent Saudi, privately-owned, joint stock company 
with SR 600 million authorized capital, devoted to 
the establishment of industries within the Kingdom of 
Saudi Arabia which take advantage of the developed 
infrastructure in the Kingdom. 


Benefits to Foreign Firms 

Through its affiliation with NIC, a foreign 
technological partner will benefit from NIC’s local 
representation in the securing of site at rent, licensing, 
10-year tax holidays, interest-free loans up to 50 
percent of the total investment, and rapid market 
penetration. 


Breadth of Interests 

Intermediates and downstream petrochemicals, 
chemicals, mechanical engineering, industrial 
production and industrial supporting services. 


PUBLIC RELATIONS & MEDIA DEPT. 

P.O.Box 26707 
Riyadh 11496 
Saudi Arabia 


Telephone: 476-7166 




/ 



'£ new Saudi A rabian - Bah rain causeway is scheduled to open in 1986. 
will be possible to drive from the mainland to Bahrain in about 40 minutes. 

Vbbar St Zainy: 
i Leader in the Food Industry 




i the Kingdom’s infnstrae- 
’ : is completed and the im- 
tance of its construction sec- 
diminishes, Abbar & Zainy 
switched to food produc- 
: asa place to concentrate its 
stmenu. 

lie well-diversified compa- 
whose pint venture part- 
indude Wesringhouse and 
roda, believes that Saudi 
ponies must invest in the 
I economy. "The govem- 
t gives good incentives, and 
opportunities, chough they 
• t be sought, are out there," 
Osama Zainy, an executive 
tot of the company. 


Founded over 40 years ago, 
Abbar &. Zainy is a leading 
force in the Saudi food industry. 

Abbar & Zainy arc now 
working on financing from the 
Saudi Industrial Development 

Fund and hope to sign the con- 
tract for the factory's construc- 
tion socxi. 

Lasr month Abbar St Zainy 
took over an existing dairy 
products factory in the industri- 
al estate, and are diversifying its 

yogurt and buttermilk lines to 
indude longlife milk, juices and 
cheese. 

At another factory, produc- 


tion of the Arab confectioneries 
haktwa andtahina has been in- 
creased by a thud, with new 
automation and equipment 
making it as technically ad- 
vanced as possible, raid Zainy. 
Started in the early 1970s, the 
factory moved to Jeddah’s in- 
dustrial estate three years ago. 

Abbar & Zainy have long 
been leading food importers. It 
imports dry goods induding 
such brands as Del Monte and 
Gerber, frozen and refrigerated 
goods such as meat and butter, 
ebeese, and other dairy prod- . 
ucts. 

It runs a chain of grocery 


'stores, and lasr year it opened 
the French Corner Restaurant, a 
favorite stop among the King- 
-dora’s expatriate professionals. 
In food preparation, a joint ven- 
ture with the French company 
RnrWhn makes the company 
one of the Kingdom's lading 
c atere rs. 

Over the last few years, the 
company has also invested, in a 
number of agricultural projects 
— including a poultry farm in. 
Wadi Fatima, outride Jeddah 

mang government incen- 

‘ rives. Two years ago they dou- 
bled the farm's capacity and 
made it more efficient. 


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FOR YOU IN... 


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Page 16 


INTERNATIONAL HERALD TRIBUNE, SATUBPAY-SUNPAY, DECEMBER 21-22, 1985 


ADVERTISING SECTION 


ADVERTISING SECTION 


NIC Launch Spearheads 
Private Sector Role 


r It is our government’s philos- 
ophy thar if something can be 
done by the private sector, then 
there is no need for government 
funds." 

So said Saudi Arabian Indus- 
try and Electricity Minister 
Abdul- Aziz ai-Zamil just over a 
year ago, when the National 
Industrialization Corporation 
(NIC) was formally presented 
to the public 

Originally started three years 
ago by 111 Saudi businessmen 

and 10 Saudi companies and 
organizations acting with 
strong government backing, 
NIC is to the private sector 
what the Saudi Basic Industries 
Corporation (SAB 1C) is to the 
public sector. The aim of both 
is to create new industries in 
che Kingdom. They are bods 
basically holding companies, 
initiating and investing in fresh 
enterprises. The only difference 
is that whereas che state-owned 
SABIC has invested massively 
in primary heavy industry, NIC 
invests in downstream second- 
ary industries. 

With an authorized capital 
of 600 million Saudi riyais 
($170 million), NIC sloes very 
neatly into che government's 
current economic strategy as 
laid down in che 1985-90 Fourth 
Development Plan. Both cor- 
porations aim at giving che pri- 
vate sector a more important 
role than during che years of 
government-fueled industrial 
and infrastructural develop- 
ment. Both see the need to 
diversify away from dependence 
on oil 2nd co attract foreign 
technology to the Kingdom. 

NICs recipe for success in 
building what it and the gov- 
ernment hope will be a major 
production and export base is . 
the combination of its own 
funds and research capabilities, 
foreign technology, and the 
funds and the iniriarive of che 
Saudi private sector. Joint ven- 
tures with foreign companies 
will be the norm, bur not in the 
usual ratio of 50 percent foreign 
company and 50 percent NIC 


or even 49 percent foreign com- 
pany and 51 percent NIC 
Though NIC intends to be che 
initiator in bringing new indus- 
tries to Saudi Arabia, its stake 
in such industries will vary 
from 10 co 40 percent, the rest 
being divided between the for- 
eign component and ocher Sau- 
di investors. 

From 1982 until late 1984, 
NICs board of directors, led by 
Dr. Mahsoun Jalal, spent most 
of its rime investigating pro- 
jects in which to invest, as well 
as preparing for its launch on 
the stock market. In December 
1984, three months after being 
established as a joint stock com- 
pany, 75 percent of NIC was 
finally offered to die Saudi pub- 
lic The remaining 25 percent is 
held by the founder sharehold- 
ers, which include such public 
organizations as SABIC, the 
Public Investment Fund, che 
Pensions Fund, che General Or- 
ganization for Social Insurance, 
the National Agricultural De- 
velopment Company, three 
banks (Riyad Bank, NC8 and 
Saudi Investment Banking Cor- 
poration) and large private-sec- 
tor firms like Olaylan Saudi 
Investment, Abbar & Zainy and 
Juffali. 

The 90 percent initial cakeup 
in the December sale was 
slightly below expectation. 
Many potential Saudi investors 
felt cautious about investing in 
a corporation many of whose 
plans were still under wraps. 
When SABIC had earlier of- 
fered to the Saudi public a 
group of shares worth almost 
10 times the NIC offer, they 
were three times oversub- 
scribed. It must be said thar 
SAB 1C s record was well estab- 
lished. NIC as Jalal admitted at 
che time, "differs horn other 
companies in chat it does not 
address well-understood prob- 
lems.” 

Nevertheless, some 70,000 
Saudis bought shares, and 
thanks to some hectic promo- 
tion work carried out by che 
board, the remaining 10 percent 


was sold within days of the 


By che time the share sale 
was over, NIC had $300 mil- 
lion, half its authorized capital. 
According to Dr. Mahsoun Ja- 
lal, NIC chairman, shareholders 
will be required co pay over the 
rest in the next coslple of years. 

NIC has so far invested or is 
committed to investing some 
$215 million in four of the pro- 
jects investigated prior to going 
public These are the Arabian 
Axle Manufacturing Company, 
in which NIC has invested 15 
percent of che $20 million re- 
quired to build and start up the 
ptonr. the Saudi Company for 
Refractories (14 percent hold- 
ing) ; a joint venture with West 
Germany’s Ferroscaal AG ar Ju- 
bail char is geared to produce 
50,000 tons annually of fence 
wire, nails, rivets and similar 
products (30 percent); and, last- 
ly. the Bahrain-based Process 
Control Instrumentation Com- 
pany. The Hist three were initi- 
aled by NIC itself; the last, for 
which ir paid our $2 million for 
a 10 percent stake, is a Gulf 
Cooperation Council project to 
produce computerized control 
equipment fix refineries and 
petrochemical plants. 

Although NIC is interested 
in virtually arty project so long 
as it has potential both within 
the Kingdom and in the Gulf 
markrt, che emphasis is on in- 
vesting in industries that use as 
feedstocks the vast amounts of 
processed petrochemicals and 
minerals available locally 
through the projects already 
started up by SABIC and PE- 
TROMIN. 

ASLAK, the company sec up 
in joint venture with FerrostaaL, 
will, for example, use raw mate- 


rial provided by Iron & Steel 
Company’s Hadccd works, also 
in JubaQ. Tie 365-million-riyaJ 
project is due to start- opera- 
tions in the first half of 1986. 

Other projects still under ex- 
amination, but expected to go 
ahead, include a joint venture 
with doe French M kfadin com- 
pany for a synthetic rubber pro- 
duction plant, probably in 
Yanbu, one with a West Ger- 
man firm for an indus trial re- 
search and development compa- 
ny, and another, possibly with a 
Japanese company, for a gener- 
al-use pipe plant. 

NIC does HOC Iniriflny all 

projects it invests in. NIC quia, 
happily invests in existing pro- 
jects, usually co che tune of five 
to 30 percent. Ic has taken a 10 
percent stake in SABICs Na- 
tional Plastic Company as well 
as a 9-05 percent holding in the 
Saudi Pharmaceuticals & Medi- 
cal Appliances Carp. 

NIC continues to investigate 
other joint ventures. Foe in- 
stance this autumn NIC teams 
visited Vienna and Stockholm 
to discuss possible cooperation. 

However, the most impor- 
tant potential NIC investment 
under study is in the offset 
program. NICs seals could be 
anything up to $70 million, the 
equivalent of what the Boeing 
group are investing in die nine 
ventures. 

Investment in NIC will not 
only confirm NICs position as 
the leading fight in the Saudi 
private sector, but will almost 
certainly push up NICs shares 
considerably. Iictle wonder 
then that by June of last year, 
quite a number of small- term 
Saudi investors re g retted not 
having got on the bandwagon 



The Al-Khozama Hotel in Riyadh. 


From Luxury Suites to Bowling 
at the Al-Khozama 



It is hard for a five-scar hotel to 
move upmarket, but that Is the 
direction being taken by the 
Riyadh Al-Kbozama Hoed. Its 
new Al-Khozama Center gives 
it the facilities necessary to 
compete head-on with larger 
hotels in Arabia’s capital, 
Riyadh. 

Hotel competition in the 
Kingdom is the most intense in 
the areas of luxury suites and 
sports facilities. Executives or 
delegations need larger rooms 
for conducting business. And 
since entertainment in the area 
is residents busi- 

nessmen look to spams dubs 
far relaxation. 

The Hotel Al-Khozama has 
recently expanded in these ar- 
eas, while improving its regular 
suites and restaurants -as welL 
The keystone of this new push 
was die completion of the Al- 
Kbozama Center. . 

The Al-Khozama Center and 
the King Faisal Conference 
Center were designed by warld- 
f am Qua Japanese architect 
Kenzo Tenge for the King Fai- 
sal Foundation, a philanthropic 
organization that donates yeady 
prizes in science and ocher 
fields, a Saudi verson of the 
Nobel Prize 

The Al-Khozama Hotel is 


owned by the King Faisal 
Foundation as well, and both 
are operated under a manage 1 ' 
meat contract with Gustar, of 
S witzer l and. 


che hoed operates an outdoor 
barbecue and the Caravan Stop 
coffee shop, a small gift shop 
and 24-hour room service 


Jurgen Fischer, general man- 
ager of die hotel, says, "The 
small friendly businessman's 
hotel has grow n up by adding a 
large residential commercial 
center designed by one of the 
world’s renowned architects." 


The .Al-Kbozama (the name 
stands for a sort of desert flow- 
er) had 188 rooms when it was 
built in 1978. During its refur- 
bishment, several zooms were 
converted, adding five regular 
suites, seven special senior 
suites, and one deluxe Al-Kho- 
zama suite. The refurbishment 
will re su lt in a be tte r use of 


The Al-Khozama also main- 
tains a wdi-empped business 
center to carer to the needs of 
its primary business clientele. 

It was the first hotel in che 
Middle East co be affiliated to 
an independent hoed organiza- 
tion called Leading Hotels of 
the World. The Al-Khozama’s 
sister hoed in Jeddah is also a 
member and, along with the Al- 
Jubail International Hood, is 
operated under contract by 
Gustar. 


persons. The center's 500-scat 
auditorium is the largest pti- 
vatc facility of its type in che 
Kingdom. When it was first 
used. Saudi” 5 monarch. King 
Fahd Bin Abdulaziz. personally 
presented King Faisal awards to 


prize winners. 

The new center also allowed 


room space. 

The Al-Khozama has always 
paid special arrenoon to its food 
and beverage department. The 
Windrose Restaurant is consid- 
ered one of Riyadh's best. Un- 
fortunately, until the addition 
of the Al-Khozama Center, die 
hotel could only accommodate 
up to 100 people. Hundreds 
attend Saudi wedding parties,- 
so hoeds that cannot host them 
lose business. 

. In addition to the restaurant. 


The Al-Khozama Center 
was planned to turn the entire 
King Faisal Foundation proper- 
ty- into a multi-purpose real es- 
tate development. 

The center was built byHei- 
lit & Wocmcr, at a cost of 
$54.79 million over a period of 
three years. Its 250-car under- 
ground parking lot is e xp ecte d 
to ease parking problems. The 
center is part of a pedestrian 
mall with fountains, play- 
grounds and landscaped g tec o - 
ery. . 

To complement the hoed, 
the center had expanded ban- 
quet farifities that can host 600 


the Khozama to begin compet- 
ing with other hotels by open- 
ing a sports center. It has tennis 
and squash courts. Guests can 
work out in the gymnasium, 
relax in the sauna and steam- 
bath, and cool off in rhe pooL 
An eight-lane bowling alley 
provides recreation. 

Banquet facilities are only 
one facet of the new center. A 
new Italian restaurant. Da 
Pino, has been added. A Euro- 
pean delicatessen that sells 
homemade gourmet items was 
also added. On the center’ s sev- 
enth floor, the Al-Khozama is 
working on a high-class Arabic 
restaurant, expected to be the 
first of its kind in rhe King- 
dom. 

In addition to sports, dining 
and shopping facilities, che new 
center contains modem apart- 
ments whose yearly rental rates 
range from $18£04 to $37,808. 
The fully furnished apartments 
include room service. 


One of the worlds largest fleets 


flying to over 40 international destinations 






’ ^ v* y. 

I Y>- :: ^ 


Our aircraft include the 
latest Boeing 747-300% A300 
-600 Airbuses and Lockheed 
Tri -Stars. 

We match our quantitative 
superiority with a quality of 
sendee that has earned the 
highest esteem of passengers 
and competitors alike. 

We take off punctually, 
with a record that is the enw 
of many. Our flights cover 46 
international destinations in 
four continents. 

We provide the latest ad- 
vances in aircraft travel. Wide- 
bodied, elegant and comfortable 
cabins. Roomier seats, audio- 


visual entertainment and food 
that is the most talked-about 
in the sky. 

Next time you need to fly, 
choose the airline that combines 
quantity with quality. Saudia. 



•N, \r w '■ 
..... . .. 




Welcome to our world. "MM- 












Iks Index 


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Pimg rate antes' P.Z1 
L .i«c P.il- QoMiaorMs P.17 

M/IbmP.T* 'interest ratw ' P.17 ' 
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U.S. Stocks 
Report, Page 18 


jkpat^uzvday, December; 21 - 22, 1985 


** 


Page 17 


ECONOMIC SCENE 



"I 


Networks and stations 

are generally viewed 
as stable investments 
in a growing industry. 


85 Became th^ 
r Television Transactions 

By RICHARD W. STEVENSON 

• • Hmv York Times Service 

;£W YORK — When American Broadcasting Cos. 
agreed last March to be acquired by Capital Qties 
GonanamcationalaC^ it was the Gist time that one of 
,-tbe three major U.S. tdeviaaa networks change 
Leonard H. Goldenson’s United Paramormt The- 
witb a OedgEng networic to create the modem ABC 

' 1985 was not out before RCA Corp., parent of NBQ 
l to be acquired by General Electric Co. And CBS Inc.,' 
• of the third network, has been afflicted all year by Ted 

r’s unwelcome takeover _ 

the fiscal wounds ft left 
an while, several of the 
n US. television stations 
atunv groups were being 
it and sold. 

y such an explosion of 
St in television proper- 

; q tense even in a year in 

1 corporate takeovers 

. abounded? Analysts say the upheaval has grown oat of the 
■table convergence of several finanriai and regulatory fac- 

-.»st visibly, the investment community and the conummica- 
. industry have concluded that the stock market has signifi- 
f undervalued media properties, perhaps being put off by 
■‘show biz” qualities and relative lack of hard assets. But the 
try and investors are recognizing that a strong management 
reap considerable profits from television stations, which 
ate large cash flows, have minimal capital requirements and 
, ninimal competition. 

spite some inroads by competitors, snch as cable, and 
’tea year of soft advertising revenues, networks and stations 
'aurally viewed as stable investments in a steadily growing 
..try. Indeed, television stations by nature time a strictly 
. . jd number of rivals — there are no more than three major 
xk affiliates and a handful of other stations in any one 
et — and, unHke many industries, face no direct competition 
' abroad. 

ND ANYONE who aspires to take on the three networks 
head-to-head faces formidable entry barriers — although 
L Rupert Murdoch, with his purchase this year of 20th 
r -ory-Fox and six television stations from Metromedia hut, 

: iany in the business wondering whether a loosely organized 
. o of independent stations with a source of quality program- 
. could not compete successfully with ABC, NBC and CBS. 
e financial allure of television, and the dawning realization 
opportunities to buy a station or a network are mm ted, sent 
■s soaring. The Capital Qties agreement for ABC, in particn- 
-oade Wall Street and other media concerns look closely at 
the assets of media companies were worth. Capital Ones 
ed 5121 a share for ABC, whose stock had traded for less 
S60 a share early this year. 

e ABC transaction “put something of a stamp of approval 
lings," said Mark Riely, an analyst at the brokerage firm of 
stadt Fleming Inc., not least because of the involvement of 
' to Buffett, a noted investor, who has a sure touch for media 
-ertks. 

Hug interest rates and a wide range of financing options 
- j it relatively easy to raise money for the arrangements. The 
y of activity had “less to do with the dynamism of the 
iess than with the low cost of money,” said Alan J. Gottes- 
_ an analyst at I~F. Rothschild, Unterberg, Towbin. “The 
; of financing a deal have become significantly easier.” 
L< ' reason is that financial institutions have beoome more 
rtable with agreements backed by the steady cash flows 
deviaon generates, rather than by the hard assets that 
s historically preferred. “In the last 18 months,, you’ve had „ 
3sion of transactions that say the investment community 
s the communications industry is of high investment grade 
(Continued on Page 19, Cot 5) 



Westland 

Europeans’ Bid 
At £37 Million 


■■ /tenters 

■ LONDON— A West European 
consortium on Friday off ered £37 
mtDion ($51.8 million) for a 29.9- 
percent interest in Westland PLC 
in a counterbid to a rescue package 
fay Sikorsky of the United States 
and Fiat SpA of Italy. 

A statement from Uoyds mer- 
chant bank, acting for the consor- 
tium, said the European offer was 
superior in several respects to the 
U.S.-led agreement, which is fa- 
vored by the financially troubled 
helicopter company. . 

The bid fay the consortium — 
France's Aerospatiale, Messer- 
sdffirittrBdlkow-juohm GmbH of 
West Germany, Agosta of Italy and 
the British groups General Electric 
Co. and British Aerospace PLC — 
has been strongly backed by De- 
fense Secretary Michael Heseltme. 

Prime Minister Margaret 
Thatcher made dear Thursday that 
the government upheld Westland’s 
right to choose the £30-nuDkm cash 
injection offered by United Tech- 
nologies Carp., the parent of the 
Sikorsky helicopter company, and 
Fiat. 

The Uoyds statement said the 
two British companies in the con- 
sortium would put up a total of £1 3 
million and the three other compa- 
nies would each contribute £8 mil- 
lion. 

A decision on the company's fu- 
ture is expected to be made at a 
shareholders’ meeting Jan. 14 

The European bid is backed by 
an agreement between the defense 
ministers of Britain, West Germa- 
ny, France and Italy to bny only 
European helicopters and aprom- 
ise from the British Defense Muds- 
tty to buy six Westland Sea King 
helicopters. 

It was the company’s f adore to 
secure orders that plunged it into 
crisis earlier this year. 

Lloyds said the consortium was 
asking Westland's creditor hanks 
to put up £23 mDlion, instead of the 
£28nriIhQn they would have to con- 
tribute to the Ss&orsky-FUt pack- 
age- . 

The consortium also said it was 
offering 33 nuDion hours of work 
over five years, compared with a 
cot of 750,000 hours in the Skor- -' 
sky-Fiat arrangement. 

Mr. Hesdtine argues that to al- 
low Westland to fad under the in- 
fluence of Sikorsky would 
Britain of an independent b< 
ter capacity. 


The Furriers vs. Animal Advocates 

Activists jit U.S. Increase; 

Hie Industry Responds 


By Lisa Belkin 
Htd York Tfma Service 

NEW YORK —Nearly. 500 protesters staged 
sit-ins at retail stores across the United States last 
weekend, handing printed cards to customers who 
wen wearing furs, enjoy yonr coat,” the message 
read. “Its real owner was lolled in it” 

- Nearby, r epr e s e nt a ti ves of the American Fur 
Industry defended the role of the S1.6-biHion fur 
industry in the economy and the environment. “If 
animals aren’t trapped thty faHvicnm to overpop- 
ulation, starvation and disease,” said Sandy Blye, 
the trade group’s executive director, providing 
counterpoint at a protest at Many’s department 
store inTfew York. 

This Christinas season ls one of growing tension 
within die U-S. fur industry. The movement 
against the use of for fur coats shown 

increased strength and cohesiveness in the past 
year, industry wwiHm and animal rights activists 
say, and the heightened pressure has spurred a 
counterattack by the furriers, concerned for their 
livelihood and the jobs of about 250,000 workers. 

The protesti come at a time when the industry 
has beat flourishing. Prices are down, influenced 
by a surge in imports, which increased 50 percent 
between 1983 and 1984 alone. Bnl sales are up, 
ecpected to reach a record SI £ Union this yew, 50 
percent higher than 1981 and three times as high as 
in 1974 

In recent years, the industry has successfully 
reached out to a host of new distribution channels. 
Where fins were once sold only by fur salons, 
wholesalers and exclusive department stores, they 
are now carried almost everywhere. 

That has helped them reach a braxter mixture of 
customers, witarg fn g the market for what had once 
been a luxury item reserved for older, rich women. 
Leonard wiinr adviser of Maximilian 

furriers in New York, recalled that when he en- 
tered the fur business 40 years ago. 80 percent of 
the coats he sold were mink, the average customer 
was SO years tiki and the coat was a gift from her 
husband. Now, he said, 60 percent of his sales are 
mink, the average customer is 30 years old and she 
is buying the coat for herself! * 

But as tiie industry hac thrived, aimwai rights 
activists have become more active in trying to 
change potential buyers’ minds. 

“There are more fur coals, so there are more of 
us,” said Avi Magidoff, founder of the Human 
Animal Liberation Front in New York. 

His is one of several new organizations, and 
many groups that have existed for years report a 
recent nwww. in membership. 

The ammwt rights groups have also expanded 



Trade Surplus 
Narrows In 
West Germany 


■■ **.?. 


Vm f>W Yari Tanm 


their focus. Previously, they had attacked specific 
issues, such as the killing of certain animals, or the 
use of a particular type of trap, said Nancy Payton, 
vice president of the International Society for 
Animal Rights. Now, she said, most protest groups 
have adopted the view that it is cruel to kill any 
animal for its fur. 

“We want to reach the women the fur sellers 
want to reach, the young women who think furs are 
status,” Mr. Magidoff said. “The furriers show 
pictures of pretty women in coats. We show pio- 
tnres of animals in traps.” 

There are signs of the new efforts throughout 
New York, a major center of fur sales. Since early 
October, for example. Mobilization for Animals of 
New Yoii has sponsored ads on city bases featur- 
ing a picture of two endearing raccoons peering 
over a rock. “These babies are looking for their 
mother,” the copy reads. “Is she an your back?” 

Although furriers say the redoubled protests 
have not maife a significant dent in sales, they fear 
the power of anti-fur appeals. 

Earlier this month, 45 representatives of the U.S. 
fur industry met to develop a public relations plan. 
The location was kept secret to prevent interrup- 
tion by piefceters. No budget has been determined 
for the campaign, which will consist of radio and 
television commercials and industry-sponsored de- 
bates. 


Reuter* 

WIESBADEN, West Germany 
— West Germany’s current-ac- 
count surplus narrowed to a provi- 
sional 4.7 billion Deutsche marks 
($1.87 bilbon) in November from 
6.2 billion in October, the federal 
statistics office reported Friday. 

Current account measures trade 
in goods and services as well as 
interest, dividends and certain 
transfers. 

The surplus in merchandise 
trade narrowed to 7 billion DM 
from 8.7 billion, the office said. 

A spokesman for the office said 
the November trade surplus, if con- 
firmed, would be the highest ever 
recorded in that month, just top- 
ping 698 billion DM in November 
lastyear. 

The current-account surplus, 
however, was down from a year 
earlier, when it totaled 6.1 billion 
DM. 

The provisional November fig- 
ure is not adjusted for seasonal 
factors but would also show a sur- 
plus after such adjustment, the of- 
fice said. 

November imports lOLaled 37. 19 
billion DM, 23 percent lower than 
a year eariier and 8.4 percent lower 
than in October. Exports were 
4431 trillion DM in November. 1.7 
percent less than in November 
1984 and 10 percent lower than in 
October. 

The November data took the cu- 
mulative cunent-account surplus 
this year to 323 billion DM, more 
than double the I4.4-biHion sur- 
plus in January-November last 
year and wdl above the total 1984 
surplus of 17.7 billion. 

The cumulative trade surplus for 
the first 11 months rose to 653 
billion DM from 47.9 billion, out- 
stripping 1984’s total surplus of 54 
billion. 

Imports in the first 1 1 months 


totaled 426.7 trillion DM, 7 2 per- 
cent more than a year eariier, and 
exports 492.1 trillion. 10 percent 
higher. 

Because average import prices 
from January to November were 
provisionally 3 percent higher than 
is 1984, the first 1 1 months' im- 
ports showed a real rise of almost 4 

percent when measured in volume 
terms. Average export prices were 4 
percent higher. 

Peter Wolfmeyer. economist at 
Westdeuiscbe Landes bank Giro- 
zenlrale, estimated that the foil 
1985 trade surplus. would total a 
record 72 billion to 73 billion DM. 


Trade Surplus 
Shrinks in U.K. 

Reuters 

LONDON — Britain's cur- 
rent-account surplus shrank to 
an estimated £259 million (5360 
million) in November from 
£400 milli on in October, ac- 
cording to Trade Ministry sta- 
tistics released Friday. 

The trade balance, compris- 
ing trade in merchandise only, 
showed a £141 -million deficit 
for November, after being in 
balance in October. Exports fell 
to £630 billion from £632 bil- 
lion in October, while imports 
increased to £6.44 billion from 
£632 billion. In the services 
sector, which includes banking 
services, shipping fees, insur- 
ance and income from invest- 
ments abroad, the estimated 
surplus of £400 million. 

The government’s intention 
to end the year with a current- 
account surplus of £3 billion for 
the entire year now appears 
likely to be fulfilled. 


LME Sets Jan. 31 Deadline for Solution to Tin-Trade Crisis 

By Bob Hagerty 

umattona/ Ham Tribu 


International Retold Tribune 

LONDON — The London Met- 
al Exchange imposed on Friday a 
Jan. 31 d*»dKin» for a solution to 

the fmanniil crisis that has halted 
tin trading for two months. 

After a meeting of its board, the 
said trading would re- 
main suspended at least until Jan. 
13, while the Internationa} Tin 
Council tries to agree on how to 
pay debts it accumulated in prop- 
ping up tin prices. But the LME’s 
chief executive, Michael Brown; 


said the current situation could not 
be tolerated beyond Jan. 31. 

Exchange officials said they 
would on Jan. 13 their 

decision on the future of tin trading 
on the LME, the world’s largest 
metals wrrhangp. The options in- 
clude resuming trading without a 
tin-council agreement, despite the 
risk of a price crash, or ending 
LME tin trading altogether. 

Friday’s decision means that 
“sometime in January the LME is 
going to have to bite the bullet," a 
senior official of the exchange said. 


Tin trading in London and Kua- 
la Lumpur, Malaysia, was suspend- 
ed OcL 24 when the tin council 
announced that it had ran out of 
money with which to support 
prices. Since then, the 22 countries 
that belong to the council have 
marie Iiuie progress toward an 
agreement on how to handle hun- 
dreds of millions of dollars of debt 
and dispose of tin stockpiles. Dele- 
gates to an emergency meeting of 
the council agreed Friday evening 
to adjourn until Jan. 7. 

Uncertainty over future tin 


Currency Rales 1 bus iness wtonu / Rong Yiren, Official TEntxepreneur’ 


Bales 


Dec. 20 



s 

• 

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5714” 

134.16 ■ 

0027 r 

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sum 

7123 

mo 

UM 

1TO' 

18.0 



2*2445 

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in 

UM 

— . 

TUB • 

IMA X 

H7«* 

un* 

11MB* 

13415* 


U2U 

— 

uw 

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ua 

72285 

20101 

20025 


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»a 

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32365 

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70140 


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— 

1-0424- 


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uw 

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IBM) 

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12X7 

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uuss 

UMI1 

HA 

unw 

no. 

10674 

55.0573 

12022 

22 057 


Ex-Capitalist Reaps Rewards of Trading for China 


* London ana Zurltti, fixings In other European c enter s . New York rateaatd PM 
lenM franc tb) Amounts needed to buy one pound (d Amounts needed to buy one 
UnUsotmu) Units of JJUOtrJ Units of ICLOCO NJ).: notauotod/ NJku net auoHatde. 
■r me mead: tt/SJAtis 


MhrVihra 






net us* 

Currency per U2j 

Currency per U5J 

Currency M 

r USS 

Mm an 

Fla. noridu 

SA9S 

Max. para 

46020 

SarfetmtSe 

07242 

14674 

Gnxkdroc. 

1HUS 

Nnrw.krooe 

72* 

S*aa.peMta 

15425 

■4L 1771 

Hong KoaaS 

72043 

POOL peso 

1775 

SwetLkroaa 

771 

fr. 5171 

UMtenrppM 111*51 

Pon.«K3«to 

14020 

Taiwan * 

3920 

1 *24520 

latfBkrapM 

1,12520 

Soedl rival 

14503 

Thai boat 

24275 

t 12056 

irutit 

02187 

SMI 

111* 

Tartrnira 

54925 

MB 22015 

hraeHaiwk. 

1481 JO 

S-Afr.rand 

225*4 

UAEfDrhani 

22725 

'mm 9.1450 

KowcOH dinar 07*07 

S-KQr. wm 

09222 

Veaez-baOv. 

1470 

M 124 

Malar. Hop. 

14315 






: MAS Irhht 

, Straw db een emu ( Brussels!; Banco Commentate itaftona (Maori ); Bamue No- 
, Rads (Pans); Bor* of Tokyo (Tokyo); IMF (SON); BAll (Oner, rtvuL dttham); 
(nuel. Other aoto tram Routers and AP. 


Interest Hates 


i wiT e iacy P op— H a 


Dec. 20 


Dollar 


swt» 


Franco 



D Morn 

Franc 

Sterling 


ECU 

SDR 

VMU 

44*4 

41*4* 

11 Hrll 4k 

W*>Wte 

WMVi 

0* 

7¥lr0vw 

ANytib 

4Vr4te 

11 )W1 * 

12-12V* 

HMV4 

0 

7M 

4*44)1 

4)fc44k 

11%-lTte 

124*12* 

teM 

s 

71M 

411,40k 

44k4te 

lllfc-llte 

12te-T2te 

numb 

7H. 

7*w0tk 

4 tknA V. 

4V*4tt 

11%-llte 

llVk.lltt 

s*-* 

7** 


By Mark O’Neill 

Reuters 

BLUING — Rong Yiren, Chi- 
na’s top businessman, has a life- 
style that is anything. but proletar- 
ian: He owns a Mercedes Benz, a 
r»tiill«e and a Nissan, and has 
mansi on* in Beijing and Shanghai 
as wdl as eight servants. 

He heads as entrepreneurial 
company, owned by the Chinese 
government, whose dynamism is 
symbolic of China’s current eco- 
nomic polity of opening up to the 
outride world. 

Mr. Rong, 69, a member of one 
of China's richest families before 
the Communists took power in 
1949, was plucked oat erf obscurity 
in 1979 fay the country’s leader, 
Deng Xiaoping, who warned to use 
Mr. Rous’s skills to help attract 
foreign corporate investment to 

China. 

Mr. Rong is chairman of China 
International Trust A Investment 
Corp-, a company like few others in 
the communist world. It goes about 
its work of ixgecting foreign capital 
and technology into Chinese indus- 
try with an air of efficiency and 


dash that axe rare among China’s 
slow-moving state enterprises. 

A picture of him shaking hands 
with Mr. Deng hangs in Mr. Kong’s 
: third floor of 
Trust’s new 
high-rise building, the first com- 
mercial office block in Beajmg. 

“I am not a capitalist; call me an 
entrepreneur,” Mr. Rong said in an 
interview. “I work for the state, not 
for myself. Oar company gives all 
its profits to the stale.” 

The company has invested in 
dozens of ventures with foreign 
com panies b Qirna | firing prari- 
u els ranging from elevators to 
snackbars. > 

It has bought forests in the Unit- 
ed States and part of an aluminum 
smelter in Australia, the first in- 
vestments China has made abroad 
since 1949. 

“T here is no lanit to the scope of 
OTICs investment,” Mr. Kong 
said, nring his company’s 
“Our problem is selecting in which 
projects to become involved. We 
are flooded with applications. 
There is so much to be done in 
China." 

To do them, his company works 



Rong Yiren 

with an efficiency that has made it 
China's favorite among foreign 
businessmen. 

“Its staff wades at a speed not 
typical of Chinese organizations,* 
an American businessmen said. 
“They are Western-educated, grasp 
Western business practices and 


have a dear line to dedsion-mak- 

- w 

OIL 

Mr. Rong reports directly to the 
State Council, or cabinet, Much 
provided an unknown amount of 
initial capital to China Internation- 
al Trust. But the company is not 
beholden to any ministry. 

Its total assets at the end of 1984 
amounted to $700 million. 

The company’s plans include 
projects abroad that should help to 
supply hems Chm* has to im- 
port in great quantities, including 
wood and iron ore, Mr. Rong said. 

Another area where China Inter- 
national Trust has played a pio- 
neering role is raising capital in 
international financial markets. 

Before 1949, Mr. Rong, the son 
of a textile baron, was a banker in 
Shanghai When many of his col- 
leagues fled the Communists fra 
Taiwan and Hong Kong, he stayed 
behind and held senior administra- 
tive and commercial positions. 

“During the Cultural Revolu- 
tion, I stayed at home” in Beijing, 
Mr. Rong said, “planting flowers 
and studying,” 


prices and the financial health of 
brokers owed money by the council 
has severely depressed trading on 
the LME in other metals, straining 
some members’ finances, and many 
brokers arc losing hope of a negoti- 
ated settlement. 

“It looks pretty gririy ” David 
WflEamson, wrtak research direc- 
tor of Sbearsan lehman Brothers 
LuL, said eariier this week. 

Britain, anxious about the threat 
to its leadership in metals trading, 
has pressed other member coun- 
tries to take responsibility for the 
council’s debts. But most other 
members have insisted that they 
are not liable. 

Banks and other creditors are 
threatening legal action against 
member governments if they refuse 
to pay. 

Some LME brokers say they be- 


lieve the British government will be 
forced to offer a solution of its own. 
perhaps by granting a short-term 
loan to allow the council to fulfil] 
its forward contracts to buy 62,000 
metric tons (68.000 short tons) of 
tin by the end of January and begin 
gradually disposing of inventories. 

Later, once it became dear how 
far tin prices would fall and how 
much the council would lose, Brit- 
ain could press other members to 
contribute to the cost. Some mem- 
bers have objected to accepting li- 
ability before they know the ulti- 
mate cost. 

Informal tin trading has contin- 
ued in small amounts worldwide 
since the exchanges suspended ac- 
tion. London brokers this week 
said prices were hovering around 
£6300 a ton (59,000), down from 
£8,140 before the suspension. 


Mbtoon Guaranty (tktttar. DM. SF. Pound. FFU Uorda Bank (ECU)/ Neuters 
"M** tapliaabte to Interbank defoelM sf fl mUnantnbiijmm loreoutvaierrt). 


Bales Dec. so 


te 

Ml 


■ Bate 

•te-mra** 

fBOt 

rsut) 

ton 

ton 


am 

into 

Interim* 


TVi 7V> 

7 15 / 1 A a VU 

Pm »Vj 

* » 

JJ9 7JS 

7JJ* 7 m 

1M UP 

TJS 7JS 

7JD 7 JO 


man) 


■Rate 


SSB 

SM 

«J0 

us 

us 


Jt» 

440 

«0 


US 




Mk 

9to 

115/1* 

? 


S to 
9 
M 
« 

91/M 91/M 


livs lit* 

HIM IlHi 

ii mu n in* 
111S/U 117/9 


S 5 
7* 713/1* 
7 11/14 7 U/l* 


Cumtmntmk. Crbdtt 
dot Tone. 


Afibs Dcttar Deposit* 

Dec 20 

■ th-IM. 

7H-lte 
7W-B 
7W-B 

l-Mfc 

Source: Reuters. 


Z mourns 
smooths 
f moottu 


U«& Meraey Market Fuds 

Dec SO 

MtiTflJ Lrecbaaadr Assets 
BtfavownmyteM: 7M 

Teterote Ineerrat Rata IMn: 7 j 4 » 

Source: Merrill Lynch. Teterote. 



Dec 20 



AJW. 

PM. 

aitw 

HMfrKOM 

334.10 

33*45 

+ 1.15 

LwtMtiMMTf 

32420 

— 

+ 050 

rwtcmSkUo) 33*44 

32*24 

+ejs 

Zurich 

33440 

32575 

Uadi. 

London 

32155 


-025 

how yarn 

— 

32&M 

+1J0 


LuxomOourv. Pads and Lerxtm ottKtal (tx- 
tags; Hone Km and Zurich opening and 
canine prices: new ran comae currant 
contract. AU prices to UJ. s eer ounce. 
Source: Routers. 


KEEPING UP WITH 
GROWTH TRENDS 
WHEREVER YOU ARE 

Our office, staffed by floor-trainecLtraders, has been equipped 
to handle every need of the expatriate, traveller or mfw national 
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Gentlemen: Begin sending complimentary “advent” reports and 
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NAME 

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tP Dept 513HC3 

THE VALUE LINE 

711 Third Avenue, New York. N.Y. 10017. U.SA 

Payment in leal wranete* (Mtfah eB4, Franeh hTM, Swts* Mbs, DIKM3 
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Distributed by HIM Royal Dutch Aitones PubEcotion Dtotnbution Serves _ 
HoBand. AScre *■ to B weefcs tor peHvaiy 


During Christmas and New Year period 

HARRY WINSTON 

will be presenting 
its latest creations in 

Badrutt’s Palace - St Moritz 
and 

Palace Hotel - Gstaad 

NEW YORK GENEVE PARIS MONTE-CARLO 


—DAKS Simpson 

I GROUP PIC 


"1 am confident that our forward 
momentum will continue." 

Johnny Mengen, Chairman. 


DO 

DAKS 

L0M30N 


Principal Group Activities 

• Manufacturing — DAKS menswear, womenswear 

rainwear and leisurewear for UK and export 

• Licensing — DAKS clothing and accessories 

produced locally in major world markets 

• Distribution — The 'DAKS Companions' 

range of accessories 

• Contract — Activon, suppliers of tailored 

clothing to Marks & Spencer 

• Retailing — Simpson Piccadilly, 

London's leading speciality store 


Results in brief 

Year ended 31st July 

1985 

1984 


£'000 

£'000 

Turnover 

39,943 

32,945 

Profit before tax 

2,539 

1,468 

Profit offer tax 

1,358 

1,003 

Ordinary Dividends 

364 

301 

Earnings per share 

2l.29p 

?5.69p 

Copies of the Report & Accounts 

can be obiained from The Secretary 


34 Jenmyn Street, London SW1Y 6HS 




Page 18 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-Sl|NDAY, DECEMBER 21-22, 1985 


NYSE Most Actives 


VQ(. HiSt) LOW LO»1 CHS. 


Uncart 

CmwE 

Teuco 

IBM 

Rtmlpi 

AmEn 

FeaNM 

Exxon 

ITT CO 

EsKods 

Soars 

GMol 

PtillPIs 


43213 43 Vi 
31039 2 Stt 
SOTS? 73 
22345 30 Vi 
21717 31 
21231 ISM 
T7926 32Vh 
16484 53ft 
15425 2H. 

16141 a 

14732 371* 
125*8 4? Vi 
1ZW3 40ft 
12446 75Vl 
12330 12 


62ft + ft 

2S 

77ft + ft 
29ft 

30ft + Vi 
ISM + ft 
lift +lft 
5Jft + ft 
25% — ft 
54ft + Vi 
36ft + ft 
4M4 — ft 
39% —ft 
73ft —1ft 
12 


Dow Jones Bond Averages 


Bands 

utilities 

Industrials 


atm ante 

8127 +0.10 

BUS 4- an 

Stl» +008 


Dow Jones Averages 


Open High Lew Last cm. 

Indus 154074 15*454 IOS57 154100 - 092 

Trans 7U48 719.34 704.12 71124 — 111 

Util 17101 17132 1713B 17426 + 1*9 

Co»m» 617.18 62144 41138 6U3S + 0.19 


NYSE Diaries 


Advanced 
Declined 
Unchanged 
Total leans 
New Highs 
New Lows 
Volume uo 
Volume down 


dose Prti. 

1099 852 

574 810 

as 4io 

2061 2064 

147 W 

B 13 

V94M7J40 

4832M10 


NYSE Index 


hwi low cum ante 

Composite 12155 12133 17122 +027 

Industrials 13929 138J7 13199. +067 

Transo. 11428 11427 11425 +035 

Utilities 6111 4220 4111 +023 

Finance 13061 1303) 13061 +060 




DK. 19 3B226 547(638 

Dec. IB 212*77 58095 

PTC- )7 258242 4KMZ9 _ , 

Dec. 16— „ 291661 719(464 4206 

tWC-U ;,.,, — 396232 679.991 <415 

'Included In ttie sales figures 


Buy Softs ■Sh'rt 

mm 547236 9251 

212*77 584295 5*78 

W5C MMZ9 SAM 



VotOUP JU 171Z7M0I 

PTBV.4PJH.TCl 138238208 

Prev coml Mated due UUSUHi 


TV* Wes include the nationwide prices 
up to ttie dosins on Wall Street and 
do not reflect late trades elsewhere. 

Via The Associated Press 


AMEX Diaries 


Advanced 
D eclin ed ^ 

U action ved 
Total Issue* 
New Highs 
New lows 
V olume up 
Volume dawn 


316 S3 

Mfl »B 

245 271 

849 041 

36 29 

17 W 


Standard & Poor's Index 


Higb uw Close Qrte 
Industrials 235*3 23129 234.17 +089 

Tramp. 19007 1B084 18922 +021 

Utilities 9026 9225 9326 +077 

Finance 2158 252B 2553 +015 

Composite 21127 21002 210.94 +092 


masdaQ index 


Composite 

industrlots 

Finance 
~ insurance 
ulllllVn 
Banks 
Tramp. 


week 
; Cirt« A*® 
| 4-0*5 32199 
r +088 32*81 
| —067 QIU 
-021 38328 
+ 122 30129 
+ 1.78 34426 
I — 1*0 296.91 


AMEX Sales 


4 PM. volume 
Prey. 4 PJft. volume 
Prev. cam- volume 


12230000 

■tztmjooo 

noMoa 



12 Month 
HtahLow Slack 


51s. Oax 

MBs High Low QuotCti’ge 


f+J 


■e.' 




nr 




Ifif’ 3 

77 +2 

17ft + ft 
29ft + ft 
31ft— ft 
28ft— ft 
38ft + ft 
33 - ft 
3«4 +2ft 
84ft— ft 
26ft— ft 
19ft 
16ft +1 
00ft +lft 
33ft + ft 
24ft +lft 

23 +lft 
44ft— ft 
61ft + ft 
109 

180 + ft 

ABft— ft 
4 

29 + ft 

29ft + ft 
39ft— ft 
13 
29ft 

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NYSE Prices Generally Higher 


The Associated Pros 

NEW YORK — Prices on the New York 
Stock Exchange moved generally higher in a 
busy session Friday despite some late selling of 
blue-chip stocks. 

The Dow Jones average of 30 industrials, op 
more than 14 points at midday, was off .92 at 
] ,543.00 by tbe close. But several other, broad 
market measures posted solid gains. 

NYSE volume stepped up to 170.27 million 
shares, from 130.23 million Thursday. Gamers 
outnumbered losers by nearly 2 to 1. 

The exchange's composite index added 51 to 
12132. 

Standard & Poor’s index of 400 industrials 
rose .89 to 234.17, and S&Fs 500-stock compos- 
ite index was up .92 at 210.94. 

Analysis said tbe market showed no drastic 
effects from tbe “witching hour.'* The term 
refers to tbe expiration of a set of options and 
futures on stock indexes, which occurred as of 
Friday’s dose. Last-minute maneuvering by 
professional traders involving these contracts 
and individual stocks has on occasion in the 
past sparked sudden swings in stock prices. 

The Dow’s drop in late trading was attributed 
by some to selling by these traders. Observers 
also theorized that the decline in the blue-drips 
could have come as other investors sold to get 
out of the professionals' way. 

Before the opening, the Commerce Depart- 


ment issued its “ Hash " estimate that the gross 
national product was growing at a 33-percent 
annual rate in the fourth quarter. At the same 
time, it revised its figure for the third quarter 
downward, from 43 percent to 3 percent 

The Labor Department meanwhile, said tbe 
consumer price index rose 0.6 percent last 
month. 

Analysts said traders generally took the GNP 
fignres as mildly encouraging and did not seem 
greatly concerned by the inflation data. 

Still, they said the latest readings on the 
economy might tend to dissuade the Federal 
Reserve from lowering its discount rate. Wall 
Street has been talking up the chances of a 
discount-rate cut for several weeks. 

Among actively traded blue-chips. Interna- 
tional Business Machines rose % to 154%, and 
American Express gained to to 5244. But Gener- 
al Motors dropped IK to 73%. 

A Wall Street Journal story said GM dealers 
had large inventories of unsold cars oa their lots 
after a recent heavy production schedule by the 
company. Ford Motor dropped 1% to 57%, and 
Chrysler was down % at 44%. 

Walt Disney Productions climbed 3% to 
1 13%. The company said the activity apparently 
came in response to its recent announcement of 
plans for a theme park in France. 

J.P. Morgan led the active list, up % at 62%. A 
2-million-snare block changed bands at 62%. 



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ReachingMane 
Than aThndofa 
Million Readers 
in 164 Countries 
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INTEBNATIONAJL HERALD TRIBUNE, SATUKDAY-SUNDAY, DECEMBER 21-22, 198S 


Page 19 


iiida^ 




TaW» kictod* tb* nationwide prices 
up-talM doting on Wall Street 
and do not reflect tote trade* elsewhere. 


pfo.YH.re 


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Own-OfM 



(Continued from Page 18) 


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44* 31* Syico 04 W 19 



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Agency of World Bank 
Expected to Back Fund 
In Third-World Stocks 

Sew York Tuna Service 

WASHINGTON — The directors of lntecna- 
tional Finance Corp., an agency of the World 
Bank; are expected next month to approve cre- 
ation of a mutual fund that will invest in securi- 
ties of companies listed oil Third Worid stock 
exchanges, the agency has announced. 

The Emerging Markets Growth Fund, as it is 
li nin g reiHeyt, is intended to accelerate capital 
investment in developing countries, which pro- 
duce one-third of the world’s overall gross na- 
tional product, but account for only 3 percent of 
its corporate securities. 

The new dosed-end fund would start off with 
a capital base of $50 million to be invested in 
countries with relatively open securities mar- 
kets, of finals of the agency reported in inter- 
views. 

Such countries as Argentina, Brazil, South 
Korea, Thailand, Malaysia, Chile and Mexico 
would qualify now, but in five to 10 years the 
officials said they expect about 20 countries to 
be eligible. 

If the board approves, the fund would offi- 
cially begin in March. 

The shares rtf the fund would not qualify 
initially for feting on the New York Stock 
Exchange, principally because die Big Board 
requires listed companies to have at least 2,000 
shar eholders. The shares, however, would be 
listed on the Luxembourg exchange, where a 
number of internationally based investment 
companies are traded. 


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BUSINESS ROUNDUP 


Broken Hill Reports Profit 
Rose 61% for First 6 Months 


RTZ Plans to Acquire Stake in Lasmo 


Reuters 

MELBOURNE — Broken HiB 
Pty^ Australia’s hugest company, 
Announced oa Friday a 61-percent 
increase in six-month profit, to a 
record 574.4 million dollars ($390.6 
million) from 341.5 million dollars 
for the period last year. 

The diversified minerals group, 
in announcing the results for the six 
months to the end oT November, 
also said sales had exceeded 4.4 
biffion dollars, up 27 percent from 
the 3.46 trillion dollars of the six- 
month period in 1984. 

Theprofit and a reward to share- 
holders of a boons share for every 
five they held, analysis said, was 
what BHP needed to fight off an 
expected takeover hid by Austra- 
lia’s wealthiest man, Robert 
Holmes & Court 

“Most people will be happy with 
the way the company is perform- 
ing.” said a Melbourne stock ana- 
lyst, Tony Moody, “but they have 
to acknowledge that Holmes & 
Court is playing his pan in making 
the company perform." 


Analysts also said that BHP was 
almost certain to become the first 
Australian company to exceed 1 
trillion dollars in profit. 

Reaction was muted, however, 
on the Sydney Stock Exchange, 
where BHP stock dosed at 8.66 
dollars, unchanged from Thursday. 

BHP. Australia's largest petro- 
leum producer, credited much of 
the profit to record oil flows from 
its Bass Strait fields off Australia’s 
east coast. These are shared with 
the UB. oil giant, Exxon Cotp. 

A 20-percent decline this year in 
the value of die Australian dollar 
against the U.S. dollar helped im- 
prove BHFs competitiveness and 
the value of foreign investments. 

Mr. Holmes & Court has said 
that BHP should be split into oil. 
minerals and steel companies, and 
has launched two takeover bids in 
the past two years. 

The bids, along with buying in 
recent months, has made him by far 
BHFs largest shareholder. His Beil 
Group and associates control more 
than 18 percent of the shares. 


By Bob Hagerty 

International Herald Tribute 

LONDON — Rio Tinto-Ziuc 
Co/p. announced Friday an 
ment to acquire 25 percent of 
don & Scottish Marine OH PLC, or 
Lasmo, for shares valued at £93 
minion (SI 33 million). 

The move came three days after 
Fetrofina SA of Belgium agreed to 
acquire another North Sea dl ex- 
ploration and production compa- 
ny, Charterhouse Petroleum PLC, 
for £145 minion. Smaller British 
operators, facing the high cost of 
extracting oil from beneath the 
North Sea, have grown more vul- 
nerable with the recent drop in oil 
prices. 

RTZ agreed to swap 612 million 
shares it owns in Enterprise Oil 
PLC, another exploration and pro- 
duction company, for 41.1 million 
new Lasmo shares. As a result, 
RTZ wiD own 25 percent of Lasmo, 
which in turn wflT own 29.9 percent 
of Enterprise. Enterprise already 
owns 10 percent of Tnceatnri PLC, 
another North Sea oB producer. 

RTZ agreed not to raise its bold- 
ing in Lasmo above 293 percent 
for two years, except in certain cir- 
cumstances, such as a rival hid for 


control of Lasmo. Enterprise, 
which was sold by the British gov- 
ernment last year, is effectively 
protected from hostile takeovers 
until the end of 1988 by a govern- 
ment agreement. 

Derek Bitkin, RTZTs chief execu- 
tive, said it was too early to say 
whether RTZ eventually would 
seek full control of either Lasmo or 
Enterprise or both. But he said the 
new situation increased RTZ’s op- 
tions in its effort to buDd up an oil 
business to complement its mctals- 
mining and industrial divisions. 


30-Year World Bank Issue Draws Investors 


By Christopher Pizzey 

Reuters 

LONDON — Deutsche Bank 
Capital Markets surprised the Eu- 
robond market Friday by launch- 
ing a S300-nnltion, 30-year Euro- 
bond for the World Bonk, bond 
dealers said. 

They said the market had almost 
shut down before the Christmas 
break, but the new issue was warm- 
ly received and demand was such 
that the amount of the bond was 


raised from ibe initial $200 million. 

It is the first 30-year, fixed-inter- 
est bond that has been launched. It 
is noncallable, pays 9% percent and 
is priced at par. 

One trader said. “Investors 
aren’t being put off by the maturi- 
ty. It’s selling really fast” 

An official at Deutsche Bank 
Capital Markets said, “We were 
surprised at the demand. The is- 
sue's been a great success.” 

By the end of trading, the issue 


was quoted at a discount pf 1 1/16, 
well inside the 1 Vi-percent selling 
concession and total fees of 2tt 
percent 

Otherwise; the market had a very 
quiet day. 

“There’s a tiny bit of retail busi- 
ness going on, but that’s about it” 
a trader at a U.S. bank said. 

Consequently, the U.S. Com- 
merce Department’s “flash” esti- 
mate of 32-percent annual growth 
for the fourth quarter had no real 
impact 


gil RESERVE 

*S“ JNSURED DEPOSITS TRUST 


RES IN DEf 

An Amount far the Cautious Inwltar 

to Protect end Increase Capital 


115. Dollar Denominated 
Insured fay U.S. Govt. Entities 
Import ant Tax Advantages 
Competitive 
Money Market Yields 
No Market Risk 
Immediate Liquidity 
Absolute Confidentially 


Chemical sank. New York 

Custodian 

CAYMAN NATIONAL BANK 
AND TRUST 
Registrar 

RES IN DEP 

Case Postale 93 

1211 Geneva 25, Switzerland 


Please send 
account 


and 


Name. 


Address. 


Not avaUtls Mrtu ih> USA. 


A Big Year 
For TV Pads 

• (Continued from Page 171 

and has come of age," said John S. 
Suhler, president of Veronis, Suhler 
A Associates, an investment firm 
that specializes in media. 

If the financial aspects have 
made television more attractive to 
investors, regulatory changes at the 
Federal f!n mm n ni«itiraia Commis- 
sion have made the flurry of activi- 
ty possible. One change made it 
easier for a hostile bidder to lake 
control of a broadcast license by 
speeding up the approval process. 
But the major change this year was 
the increase -in the number of star 
tioos that a company or individual 
could own to 12 from 7, as long as 
the stations do not reach a total of 
more than 25 percent of the na- 
tion’s viewers. 

That meant, for example, that 
Capital Cities could merge with 
ABC without haring to sell as 
many stations as the merged com- 
pany would have had to otherwise. 

The change created a much more 
active market for buying and sell- 
ing individual stations, since com- 
panies could now expand through 
acquisition beyond their previous 
Emits. “None of this would have 
been possible if the FCC had not 
changed its ownership rules,” said 
Howard E Stark, a New York- 
based television station broker. 


RECEIVERSHIP SALE 
Assets of 

CRESTWOOD KITCHENS LTD. 

Vancouver, British Columbia, Canada 

The business and assets of Crestwood Kitchens Ltd., one of 
Canada's leading manufacturers of quality European and traditional 
design kitchen cabinets, are offered for sale by Dunwoody 
Limited, Receiver, in the alternative, offers will be considered for 
the real estate, inventory or equipment 
Offers should be submitted to the Receiver by no later than 
Monday, the 20th January, 1986. 

The assets include: 

*106 acres oT land with mO siding access 

* IMJOO square loot manufacturing facility 

* Ifco modOTi prodndion Hues consisting of: 

1. ffrnarihwi Series (traditional stiddhune construction) 

2. European Series (32 m/m system construction) 

* 9I5B square foot office btuhfing 

* Receivers’ interest in showroom lease 

aD located an die Pacific Coast in Richmond (Vancouver), Canada. 

Crestwood is capable of annual sales of 30 million dollars 
Canadian. It established markets in Wstera Canada, United 
States. Great Britain, Hoag Kong, Japan and Saudia Arabia. 

This represents an excellent opportunity for the investor who 
wishes to enter the manufactured cabinet business both domesti- 
cally and internationally, coupled with an established cabinet 
assembly franchise program plus a dealership program aimed at 
small urban centres. 

An information package and further details can be obtained from 

Tracy Moore at (604) 683-542L 

Dated at Vancouver this 12th December 1985. 



■cabinets crafted by 

RESTWOOD 



DUNWOODY LIMITED 
y Receiver 


/W 055 

yy suit 

•M CANA 

thi pv 


P.O. BOX 49272 
FOUR BENTALL CENTRE 
1055 DUNSMUIR STREET 
SUITE 1800, VANCOUVER, B.C. 
CANADA V7X 1C5 
TELEX: 04-55488 


ADVERTISEMENT 


INTERNATIONAL FUNDS (Quotations Supplied by Funds Listed) Dec. 20, 1985 

Not asset value mtatlou ora wppUed Mr tin FvmH I Wad with the ucaratton of tom xmtta band oa Itaw prtox. 

Tim morainal xvmbata Indicate II mb wct rt —MO W— rapoHod; HO -dalhn (wl -weakly; (M-b+mMlWvj trt- r xmta rUr i (D-IrrMmlartv. 


VL MAI MANAGEMENT 

l(wl Al-Mal Trust. SA—JI^H 
BAN K JULIUS MEB >CftLH 

■ d> ommmmmmmmmmmm 



Intaraqutw Pa rt ite 

Interanrttv N- AiMr. Otter S 1001 

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A slan Grown Fund t 1301 


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FiF-intxmattanoi. 

FIF-PodflC. 


5F 8205 
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C 1109 
1 3004 

8 10600 
8 18702 
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Indosaez Mummntt ft 

. _ . Indosuez USD (MJUkFl . .. 

IR/TANMAPOB 271. 5L (tailor, Sorter 
A w 1 Brit-Dollar income % 0091 

-(wi Brlt-SMpnOOCurr | 10 l44 

- d Brit. inlLSManaumrH $ 1.191 

■ld> Brit. intUMomaPwif c 1230 

w) Brit. Am, Inc. 8. Fd LM S 1.168 

!wj BTttGoW Fund % 0453- 

w; BrilMnnae.Cvrrencr r 15L1J* 

!d) Brit Japan Db- Pwrl.Fd 8 1040 

| wl BrlLJariev Gilt Fund C 0818 

d) BrIL World Lrt*. Fund 8 12S4 

dl Brit. World Tertra. Fund 8 0000 


$ 


iPITAL U4TER HAT! OPAL 

-twl capital Inn Fund 

- *- • Italia f 


S 47.12 

... I 1906 

ITICORP INVESTMENT BANK ILuj 
. OB 1373 Luxembourg TeJ. 4770501 

( d ) Cttinvort Ecu ECU 1017.94 

Id) CftiflVMtUauhflty S1D18.U 

CREDIT SUISSE (ISSUE PRICES) 

-< d ) Action* Suteae* §F 50505 


-id 

-(d 

-{d , 

-rd) Band 


Band Voter surf 


Band Valor D-mark — - 
Bond Valor U5-DOLLAR. 
Voter (Start too 


SF 10400 
DM 10608 

- i 11105 

I1SSU7 


Band Valor Van Yon 1000400 

convoft Valor Swf SF 12110 

comart VOlor UfrDOLLAR. * 13006 

CBMOK. 5P 70900 

CS Fonds- Bonds SF 7450 

CS Fondwirti SF 13580 

CS Monev Markrt Fund s 110800 


CS Moray Market Fund-. DM1Q650O 

CS Moray Mancet Fund cl 05300 

CS Moray Morkpl Pd Yon. Y1OO54O0O 

Erarata-vator — SF wjb 

U*mc_ SF 16200 

Eumno-Voter SF 19S5D 

PodflC -Voter SF 16300 


DREXSL BURNHAM LAMBERT INC 
Winchester Home , 77 Lond on Wall 
LONDON EQ (01 93097*7) 

(w FlnNwry Group LM S 13003 

- m Wtartwofor Dhraralftad—— * 2100* 

-im UHnrtiKtar Fbwndal LM. S 906 

-(in Winchester Frontier s losjs 

-|w Winchester Hol«iW^_ PF 10704 

S 1256 

-f w) worUwMe Socurtn** S 5S07 

-tw) WOrhfwldoSracM. I1BNS.11 

PIT INVESTMENT FFM 

-Hd 1 Canamtm 


t DM 36.10 

-Hd) Inri ft w i ten fo t ta L, DM .9306 

Dam ft Horant < Lloyd CMrra. wmmI« 

-4m> d&H ConumxStv pom . 

•Cm) Cunrmcv 6. Oo« Port 1 1 

-lrt) wmeh-Ufo Fur. Pool SS63J3 — 

-im) Trans World Pul. Pool S 87908"“ 

JCBC TRUST CO^ JERSEY) LTD. 

V3 Seata SL0L HeJta^oij633l 

HADED CURRENCY FUND. 
mincJBW — 1 1070-Ofter — S11041; 

dSCon-- Bia___Jtj24 oflor 012017 

_ TER NATIONAL INCOME FUND 

-Id) snort Torn -AMAccum). s 10115 

-4 0 ) Short Term "A" iDWr >_ 3 

d) Short ToraTO' (Accuin)_ $ 

Short T«rm ‘B’ IDWri 8 


till 


10096 


19671 


rtwj Long Term- 


. . S 2508 

MCMT. LTD. INV. ADVISERS 
,1. uwranco Paunty Hin, EC4. 01-4234680 

-(wl F8£ Attantic_„ 5 1308 

-iwj F&C European s 1607 

-IimI PAT nriiilnl ( 3301 

FIDELITY POB <7* Hamilton Bor ra nda 

-(m) FAA Hobflnm S 7506 

-Id) FldoUtyAmr.Aoseta — __ 8 7804 

-(d) Fldollty Australia Fund. S 1104 

-(d) Rdouty Dlscovory Fund— S 1106 

d) FldrtltYDlr.9<m.Tr S 12802 

, .dlFlralltv Far East Fund 8 

-(d) FlrantY InTL Fund S 

d) FldrtliY Orient Fund S 3iw 

d I FUttHv Franttar Fund 8 15JB 

d > PldHtry Poctflc Pund 515422 

-(d) Fidelity Sod. Growth Fd-__ s 1601 

l-(dl FlttaWv wortd Fund 8 

FOR BBS PO B887 GRAND CAYMAN 
London Aoart OM39J073 

-(wl Dollm income S 625 

w) Fortes High Inc. Gilt Fd c WJ0 

w) Gold Income f 701 

wl gqm AnorortaHan s 40 s 

.hi) Strategic Trading 5 100 

GEFINOR FUNDS. 

■tel East imm st mm i t Fund, 

: ' ScoHINi world Fund 

-Cw) State St. Atnortcan 

.:W9142S).G«raw:4» 

GLOBAL ASSET MANAGEMENT COUP. 
PB 119. St Peter Pori. Guorraoy. 0481-28715 

-{«) FuturGAMS-A. S 12871 

wl GAM Arbitrate me 5 14422 

w) CAMertca Inc % 157.97 

.W) GAM Australia Inc S 98.14 

-<wl GAM Boston Inc s UOJD 

w) GAM ErmltOBa 5 1703 


w) GAM Franc-vai 

wl GAM Horn Kano Inc 

wl GAM Intomattanal me 
wl gam Japan inc. 


SF 1347B 
8 10Q2S 
8 13023 

8 125.18 

, , , GAM Norm Airarlca Inc. 8 117.14 

,-{w) GAM N. America UnM Tni»»_ 11323 a 

-iwl GAM Pacific Inc S 14102 

-l wl GAM Pans. & Otar. WWtew — 10900a 
-Iw) GAM Pans. 8r Char. U.K.FH... 10550 p 

-(wl GAMrtnt S 11451 

-<w) GAM Slnao oora/ Malay inc s 8326 

W) GAM Stoll « Inti Und Trust _ 15305- p 
w) GAM WbrUwUa Inc 
w) GAM Tycho S A < 

-tw' - 
:-tw 


S 19603 

doss A t 131.11 

GSAM Intern! Inc U0 Ord. 1 10106 

GSAM Interest Ine. U0 Spa S 9702 

GSAM JntenB* inc. SF 9907 

GSAM Intera* lot Y«n 9, 


GSAM Intern) me.] 
GSAM Interest inc- 


DM Ii 

_ C 10000 


G.T. MANAGEMENT (UK) LM. 

-M| Btary Pot FdAKL S 1101 

— AerttedSdanra — S 1494 

Axon H.K. GwttiFd 3 7)02 

Arlo Fund_ J 424 

, .Auctrollo Fund S 2479- 

d) G.T. Europe Fund 3 1507 

G.T. Euro. Small Cof, Fund — 1 1609 

-ir)G.T. Dollar Fund s 1601 

•(d) G.T. Band Fund S 1275 

dlG.T.GMMTecf»ioyFct f 1352 

d ) G.T. Honshu PattiHndor — - S 3205 
0 ) G.T. Investment Fund f 2U3 

,w)G>T. Japan Oman Co.Fund_ s 5895 

kr) (XT. Technatoov Fund I 2701 

■Id) G.T. Saute China Fund * IM 

MILL SAMUIL INVEST, MCMT. INTUSJL 
Jenw. PA Bax 63. Tel 053476029 
Berne. PA Box 2622, Tel 4131 324051 


Cmsbow (For East} . 
C5F (Bahmced)-^H 
European Equltv 
Intel. Band Fund! 
ira. Currency UiJ 


SF 1101 
SF 2701 
DM1201 
S 1888 
S 2700 
S 1503 
t 31.17* 


JTF Fd (Tedwtateay),.— ... 

i .-^OlewFdtN.AMERiCA)-. 

JA^DIHE FLEMING, POB 70 GPO M9 )Gl 

JJF Curroncv&Bond S 

AF Hoop Kora True) — * 

JJ= Podflc income Trust — Y 1703 
XF Japan TTwrt, ... — Y 4008 

JJ= Japan Tiwwotouv Y 20J76 


-( r ) J,F Pacific Soci-(Acc) S 701 
LLOYDS BANK 1NTL.POB43B,Geae«a II 

3! 


w) Ltevramr i Growth 
w) LJovds Inri income, 
wl Ltovds Inri N. America. 
> Uoydsinfl" . 
f-Hwi Ltovde inn. Smaller 
NIMARBEN 

•WlCtaB A 

-fwl aosoB.UJL 

-(w) CtoosC- Jam 

OBUFLEX LIMITED 


Multfcurrency 

Dollar Medium Term. 
Dollar Lora Term___ 

Japanrae Yen 

Pound Sterling 

Detrtsete Mark 

Dutch Florin 

Swiss Fnmc- 


sf mjo 

SP 32100 
* 11100 
SF 13300 
S 1501 

_S 9803 
—% 114.18 
_S 1 01-92 


S U.12 

S 1105 

S 1203 

* 1300 

— — I 1890 
-DM 1896 
_FL 1 
■ SF 1823 


ORANGE NASSAU GROUP 
PB 83578. The Hague (070) 469420 

d) Sever BetoMinoMT++ 5 

imniiM oitnirr 

Cortexa Internal tonal 8 10105 

ECUPAR ECU 1041.95 

OBLI-DM. — __ DM 125104 

OBLIGATION — — SF 9100 

OB LI -DOLLAR SI 

OBU-YEN — v : 

OBU -GULDEN—- FL1 

dl PAROIL-FUND S 9174 

HI PARE U ROPE GROWTH— S 1114 

dl PAR INTER FUND S 10508 

dl PARI NTER BOND FUND *1891 

d> PAR US Tree* Bond -a. B'. % USAS 
ROYAL B. CAHA0A0>OB3« I GUERN5EY 
-Hwl RBC Canadton Fund Lft.' 8 1202* 

-Mwl RBC Far Cast&PotMic Pd_ S 1201 

«MW> RBC inn Caohoi fh * ‘ :~ 

w) RBC inri income F8 * 1109- 

'dj RBC Mondnrmcv Fd S 2702 

h+]w)41BCItarttiAmer. Fd.. — S W04 

IKANDIPOMD INTL FUND 144-6-23071) 

>4 w line.: BM | 6720ttar S 7.16 

rtw)Acc.:Bld 8 60S Offer _* 7.18 

SVENS KA INTERNATIONAL LTD. 

17 Dewcnmir* NJadtlHIHOB 

A r) SMB Bom Fund S 2502 

w) SHB Inti Growth Fund * 3905 




. JSS BANK CORP. (ISSUE PRICES) 

A a | Amertoj-Vator SF $2305 

d) D-Mark Bond Setecflm.. DM 12407 


I d Dollar Band Solecfton. 

-Id) Florin Bond Setectten 

-tdi interwalor - ■ 

(dj - - 


. * 14136 
FL 12907 
SF 9105 
SF 93305 
_J 10836 
5F 1UJS7 
SF 40600 
SF 7900 




_Y 1C 


-Id) Mertlim Bead Setaefton 

-id I SwfnForeten Bond Set — 

(dl Swttsvator new Series 

-Id) Universal BondSetact. 

-(d) universal Fund 

.d> Yen Band Selection 

UNION BANK OP 5WtTZRHl_AMD 
-(d) Ameo LLS-Sh. SF 3703 

! dj BomWnveS SF 4900 

d ) Fonsa Swiss Sh. SF 18800 

d) Jopaviiwest SF 96008 

(d)5af)t South Afr. Sfr - SF 00 

-(d) Slmo (stock price) SF 30300 

UNION INVESTMENT Frankfurt 
diontewte DM <4100 

d) Unlfarah. ■ . DM 31.10 

-(d) Utilrafc DM 86.15 

-CdlUNIZIN*. .. , DM UBB5 

Other Funds 

(w) Adtoonoi investeients Fund. 

(wi Ad (vest Inti 

(mi Allied Ltd 

(w) Aqulto International Fund 

(rlArufaFlnoncel.F 

r ) Artano. 

w) Truetcor inn Fd. (AE1FK 
(w> B u nd l e tax -issue Pr.^. — , 

(ml Canada GW-Morttwra FcL 
(d ) Capital Pmerv. Fd. IntL- 
(w) Cttadd Fund. 


I 2SJ0 
■ 1200 
! . U! 

S 13143 
S 97818 
S 197215 
S 1101 
SF UBS0 
S 903 
£ 1106 

.... S 102 

(m) Cleveland Offshore Fd 82369.15 

(w) Columbia Securities. FL 106J0 

", r ) COMETE S 95700 

wt Convert. Fd. Inn A Certt_ S iijs 
. wj Convert. Fd-InflB Certs— % 3444 

lur) Dahvo Japan Fund— Y 10044 

OjCLC. 3 10145 

DaUor-Baer tend Fd S1D74JB 

_ DM104100 


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D. witter WM Wide I vtTst — s 1133 

. , DroMoar irwosLFimd N.v s 1291.94 

d) Drovtus America Fund s 18M 

d) Drevfus Fund inri S 4100 

Dreyfus I nter continent S 37.41 

The EetabUNiiwnt Trust j 127 

Eumae Obl toot Iona Ecu 6403 

First Eagle Fima S 1887703 

Fifty Star* LM I 95565 

. Fixed Income Trons % 1108 

w) Fgntetax issue Pr. SF 20490 

Fgrexfund C 709 

Formula Srteaton Fd. SF 032 

FmdHoUa S 3805 


Frnnkt-Tmst lntenUts DM 4209 

GearoeV INV. BOND F *1105 

Gavarnin.Sec.Fund>—— s 94.18 

Howssmam Hldos. N.V * 15842 

Hut la Fundi * 10701 

Horizon Fund *137701 

IBEX ffaUlnm Ltd 5F 12130 

ILA-IGB ( 902 

ILA-IGS- I 1849 

Intort und SA S 19.92 

Intermartcet Fund S 29276 

Intermlnlna Mut. Fd GL'B'— C 85873 

Inti Securities Fund S ■ 1407 

InweStoOWS. DM 4207 

Invest Allantfoues 1 1106 

■taltortune Inn Fund SA S 2845 

Janon Setacfton Fund 8 13540 

Japan Pacific Fund t 12249 

JM4er Pta*. IrtL Ltd IN88US 

Ktelnmert Benson Inri Fd — S 2502 
Ktainwort Ben8 JOA Fd— _ * 9873 


W 


ml Magnafund N.V.. 

‘ Madloianiim SM. I 


Koraa Growlti Trust- 

LMeom Fund 

Leverage Cap Hold— 

LNaifcocr 

Lwfund. 


KW 901400 

— S 1109 

— S 13C4L39 

— * 19892 

— 8137109 

— S 8177 

— S 19170 
S 2273 


MAAT.HH 

NHcko Gmrttl^H 

Nippon Fund 

NOSTEC Portfolio 


Y 10545400 
* 11-54 

*985775 
f 3703* 

u 1 579603 

Npvofec investment Fund—, s 10346 

NJLALF 8 17423 

NSPFJ.T — — 8 18109 

Podflc Horizon invt Fd 8 123644 

PANCURRI Inc— * 2203 

Parfan Sw. R EEst Geneva— SF 139700 

PtfTTMl VOHta N.V, SUSUf 

Pjrtnrtu S 116753 

PECO FUQd N.V.... _ 8 13270 

PSCO IntL N.V ... — S 10546 

wl Putnam Em. Into. Sc.Tr 8 902 

dlPuinran inn Fund 8 78.16 

rJPri-Tecft- * 960M 

w) Ouontom Fund N.V s 629506 

d) Rente Fund LF3OS70D 

d) RcntMvMt— LF 105558 

d) Reserve insured Deposits *112504 

w ) Rudolf Wolff Pul Fd Ltd— 8133000 
Sorriurui Portfolio SF 12400 

SCI/TertL SA Luxeimuro. * 1107 

Sewn Arrows Fund MV— ^ * 929 JB 


Bate St. Ban* Emritir HdmNV— ■ f 1BJ7 

Shataav investment Fund s 2113 

Syntax Ltd'lClan A>- S 1150 

TedtM Growth Fund. SF 8700 

Thornton Australia Fd 10d^_ s 959 
(d) Thornton HK & ChinaM— — * KUO 
d) Thornton Japan Fund LM_ t U6S 
d> Thornton OnentJnc.FdLM_ s 182S 

wj Tokyo Poe How. (Sea) S 11400 

w T°kYUPWj Hokl. N.V 3 157.19 

.wl Trwimdflc Fund * mew 

,w| Trons Ew^K^Fund_ - F1.3M3 


dlTurquek 


* 13755 


w) T weedy J/gune av.nratA _ SZMCJB 
w Tweedy .Browne n.v.Cln wl >_ $161945 

d UN ICO Fund DM Tin 

d Util Bond Fund— S119108 
r UNI Capital Fwwt i 04159 

.d US Federal Securitas “ E iJS 

S d US Treasury foenme fund-. __ s 

W VomUutlltf Amh S 1206 

d World Fund aa j Hjf 


DM- Deutsche Marfcj BF- Belgium Francs; FL-t 
F/VSHtatl ner unit; ma.- Mar Available: MC-> N— — 
Redemm- Price- Ex*Coupan; •• ■ Formerly Wortewlde I 


i 







WHEAT CCBTJ 

5.000 bu minimum- dollon; par bustwl 
374 *b UP A tor 141 142 Uin 141 Vi — j 01*6 

&m 2 J 4 Moy 122 12414 . 12044 114 +. 00*4 

372 V 3 243 Jul 251 Vk 254*6 Z 90 253 ** +JDl*b 

145 247 See 222 254 19144 25 J*b +. 01*4 

108*4 193 Dec 104 MJh 101 104 +. 08*6 

Est. Soles Prev. Sales 4,996 

Prev. CK»y Open let 31,214 up IX 


CORN CCBT) 

5800 bu minimum- dollars pur bushel 
197 27<Vb Mar 249 258*b 

19114 131 May 282*6 15414 

286 133 Jul 153 US 

170 274*4 Sap 137*4 141 

12Wi 130*4 Dec 13914 13016. 

174V3 131 Vi Mar 1351i 237 

May 242 242 

Ext Soles Prev. Sales ares 

Prev. Dov Open lnt.1229S3 Oft 1891 


SOYBEANS (CUT) 

SHOO bumhtl mum- dollars par bushel 
479 478 Jan 533 540 

742 49514 Mar 547 5 . 53*4 

779 4 J 9 Mav 523 545 

458 497 Jul 5471 b 573 

474 498 V. Aua 544 571 

678 4.96 SOP 592 i 55 

632 498 Nov 592 554 V. 

543 509 Jan 559 V. 565 

437 *i 51915 Mar SJU 576 

Eat. Sales Prev, Sales 34.151 

Prev. Day Open InL 72383 up 1716 

SOYBEAN MEAL (CBTJ 
100 lam- dollars par ton 
16100 127 J 0 Jan 144 X 14740 

20690 13000 Otar 147 JO 15090 

16250 13250 Mav 15078 15100 

167 JOO 13480 Jut 15290 15490 

15380 1 35.-5 Aup 153 JM 15500 

16790 13500 Sep 15000 15100 

I £3 ,SA 2 ! ^ 144J0 “ 9.00 

15080 13480 DOC 14880 15080 

15080 13480 Jem 14980 15080 

Esl. Sales Prev. Salas 11141 

Prev. Day Open Ini 43770 up 428 


248N —8016 
2J2*6 +8016 

^ + 33i 

2291b +Jllfe 
1361b +81*4 
142 


531 Vi — ,03 
54416 —87*6 
557 —811b 

568*4 

56736 +80*6 
554 +83 

553VJ +8B 

545 +83 

574 +84 


14480 14580 
14780 14970 
15880 15250 
15280 15390 
1 99 01 15480 
15080 15280 
14450 14750 
14880 14990 
14888 14870 


SOYBEAN OIL(CBT) 

60000 B»- dollars per 108 lbs. 

2985 1883 Dec 2250 2250 

2987 1872 Jan 2205 2235 

3 S 80 lft 98 Mar 2157 22311 

27.45 1975 MOV 2280 2295 

2575 1946 Jul 2295 23.10 

2515 1941 AUB 2295 2115 

2485 1985 SOP 2270 2150 

2280 19 J 0 Oct 2130 2250 

2280 1940 Jan 2235 2275 

Eat. Sales Prev. Salas 18967 

Prev. Day Open Ini. 47894 oft 355 


ms 2278 
2177 2198 
2111 2230 
2240 2254 
2240 2277 
2272 2272 
2117 2117 

2270 Pin 
»7n 2270 




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US a 5 JS» - “ 5 1 & & £=8 

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AMEX Highs-Lovvs 



NEW mens 36 


ATT Fd 

Bleeps 

CPtrFad 

Intermark 

Mark tv b 

PGE 254 PIT 

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Sion wood 

Unltlln 

AmRaaftv . 
Brown For A 
CressAT 

Kay Core 

MosMSon 

PGE 237 MR 

PiyGams 

Tofan Rndi 

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BancrftFnd 
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Rrdcores 
KavJeweln 
Money Mui 
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Trans Lin 
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WiacPLpf 


NEW LOWS 11 


AnaelesFtin 

EtrLavud 

NRMEitflyn 

CareEnt A 
Farter pI 
PUxalnn 

Defcrwd 
Krystcom wt 
Spndtbftn 

EaoteCmt 

MayEnoy 


53 MU 
57 1416 
9 1316 
24 12V6 
05 126b 
2 1216 
37 X 
53 3214 
48 29*6 
25 

2 * 
25*4 
26*4 
_ U*b 
131 23» 
72 20V6 
12 19*1 
66 1916 
4 209k 
as 

2914 
73 

xm 

9*4 
29*6 
5*4 


Amexco to Raise Capital 
To Expand Underwriting 

International Herald Tribune 

.. LONDON —American Express Bank LuL,a 
unit of American Express Co., plans to use a 
SI 75- million capital increase to expand its un- 
derwriting of i nt ern a tional bond issues. 

The parent company announced Thursday 
that it planned to use proceeds from its rcoem 
sale of shares in. Fireman's Fund Cop. to bol- 
ster the capital of both the bank and « nofli» 
unit, IDS Fina ncial Services, by a total of S240 
million. 

The move would raise the banking unit’s 
primary capital to about SU billion at year- 
aid, Robert F. Smith, chairman of (he bank, 
said in a telephone interview. 

; He said the bank would increase its coopera- 
tion in the Eurobond market with another 
American Express unit, Shearxra Lehman 
Brothers. Sfcearson would be able to act as a 

lead manager of more issues by drawing on the 

bank’s capita] resources and network of weal A* 
customers, Mr. Smith said. 

Asked whether the cooperation eventually 
might lead to a merger of the bank and Shear- 
ron, he said: “It’s too early to speculate on 
that. 


GonwnSlities 





Financial 


COFFEE C (NYCSCE) 

27.500 H&r cants per lb. 

23880 12850 Mar 25080 24870 23525 24078 +1510 

22185 13180 MOV 22785 22785 22785 22785 +4U0 

22550 13550 Jul 23180 23150 23158 Z51-5B 4680 

m81 13275 SaP 23441 +480 

2X80 1381® Doe 23980 

23680 14250 Mar 24280 +680 

239JM 1«9JR MOV 24173 +4JB 

Est.Soles Prw.Salas 6122 

Prev. Day Open Int. 13805 oft 166 


Gurremy Options 


SP COMP. INDEX (CME) 
points and cants 

21385 17570 DOC 2103 S 21270 

21480 1*280 Mar 21290 21575 

228.15 18290 Jun 21470 21730 

22180 18780 Sap 21890 Z 1 I 90 

Est. Salas 32843 Prov. Sorts 60873 
Prov. Day Open Ini 85906 up 767 
VAUJE UNO (KC 8 T> 
prints and c a nts 

21785 18840 Doc 21280 21615 

22070 19080 Mr 21670 21085 

22170 19780 JtPi 22040 22060 

22640 20085 Sop 

22680 22480 Dec 

Est. Sorts Prey. Sates 5819 

Piw. Day Open ltd. 18823 up 383 
NYSE COMP. INDEX (KYFE) 

Prints dll cents 

12375 10170 DM 131.10 12280 

12585 10550 Mar 12155 12380 

12640 10690 Jun 12385 125.15 

127.40 100.10 Sap 12540 12645 

Est. Sedas 10890 Prov. Soles aj« 
Prev. Day Open ini 10590 up 166 

MAJOR MKT INDEX (CBT 1 
points and eloMs 

297* 4 24934 DM 29334 297 

2 WS 270*6 Jan 294*4 298 

*»tt m HWk 

Est. Sorts Prev. Salas 302 . 

Prev. Day Opan Ini 2850 up 35 


Z 1 QX 21690 
21290 21 170 
21470 21575 
21650 218.15 


21280 21164 
216-15 21785 
21980 22080 
2ZL75 
22540 


121 JU 12175 
12280 12380 
12385 1200 
12560 T 2560 


293 29404 

294 295*4 
296*4 297B 


Franck Bancs par metric ton 
Mar 1,«5 UK 1854 1859 +7 

May 1 J 0 S 1840 18*0 1885 +7 

Aua L 433 MX 1436 1445 +* 

Od 14*0 1470 1473 1485 —5 

PCC J 8 W 1495 1493 1810 +3 

Mpr 1800 , 1890 1875 1895 + 15 

Eat vnU lJHO lots cl X tons. Prev. actual 
sorts: 2401 lots. Open I nte rest: 31895 
tttkpQA . 


D*C . N.T. ALT. ljne 182 s +30 

Mar . 1,925 1800 1,920 1825 +23 

May N.T. N.T. 1,938 _ +25 

JIV N.T. N.T. 1845 — +20 

Sep N.T. N.T. 1855 — +25 

Dec N.T. N-T. 1855 — +30 

MOT NT. N.T. 1860 - — + 15 

Est. .vet: X tots a I TO tons. Prev. actual 
■alas: 10 lots, opan Merest: 374 
COFFEE 

Franc* francs par lOOJto 
Jan ■ H.T. N.T. 2865 2895 + 300 

Mar '. 3890 2745 %M$ 2845 + 20 * 

Mav MTS- 2850 2879 — + 150 

JtV - N.T. N.T: 2855 — +150 

SOP M 13 sura 3813 — +150 

Mav - 3820 1879 3820 — +150 

Jan . . N.T. N.T." MX — +130 

Est. vet: «t lots at 5 tons. Prev. actual 
sates: 90 lota-OPM Interest: 4 J 0 

Sourer.- bwmm du Qnmfm 


mess Low Bid Art BH Ask 

SUGAR 

Storting per metric ton 
Mar 15740 15 X 40 15470 15440 15480 15440 
May 16140 19640 13080 15980 13870 15040 
Ana 16440 16380 16380 16480 16380 16140 
Od 17280 17280 16640 16980 96080 KOTO 
Votump: 1801 tots of 50 tons. 

COCOA 

Sterling per manic Jon . 


as i&ississ 

May 1795 1730 1793 

Jtr IJB* 177 * 1805 

Sap 1815 17*3 1815 

Dec 1800 1790 1811 - 

Mar 1811 1810 1821 

Vbtome: 4,129 late at 10 k 
OOFFBE ‘ 

Sterfteo par manic ten - . 

Jon 2720 2860 2712 

Mar 28*0 2895 2720 

May 2825 2456 28 X 

JIT 2830 1715 28M 

SOP 1950 2775 2820 . 

Nov • 2,960 2810 2845 

Jan . N.T. W.T. 2830 

Volume: 1 UH lots al 9 k 


1745 . 1700 1705 
17*1 1764 1746 
1794 1755 1756 
1809 1771 1772 
1816 17*9 1790 
1816 3795 1790 
1831 180 * 1815 


2725 2463 2473 
2730 2830 2830 
2850 2876 28*0 
28*5 1633 1639 
2825 2410 2405 
2850 2403 2700 
28 M 27*0 2730 



commodity ana Unit u 

Coffaa 4 Santos, lb » • Tu 

Prtnidatti 64 /jo as vi. ,<j ' £5 

&t«rt rillels (Pltt.J.tor li: 4nS 

LSSS?tJ?° 1nVVPm -“ nM ,Ma 

Coooer ctect. ~to ~ Sn SS 

Tlntstromi.ib . — ?? SS2L 

Sliver n^yI” — 

Source: AP. 


Commodity indexes 


Cloce 

Moody'S NA. f 

Reuters 17080 

DJ. Futures 13048 

Com. Research Bureau- 230.10 

Mood/s : base 100 : Dec. 31, 1931. 
p - preliminary; f- final 
Reutme : base 100 : Sep. 18, 1931. 
Dow Janes: beat 100; Dec. 31, 1974. 





London Metals 


IhelntgnationalHeraMTabnne. 
BringingflieWodd’sMcst 
ImporteniNews so the WoritTs 
Most Iiaponaat AMtence. 


Esn mated Ntelv*i 5 M 
osw-. -nw. y*L iso opm hd-joja 
Pvti : Thi.nLUlf saw tsiSUM 


Mini per metric tea 

g* IIJt Turn 747 J)0 74600 

^£S r p£® TO “ 

gg-RCAn^ffl^ 3 ® 

Sr WMM » 

Mrnmipsrmafrtcrta 

2!*, £555 sam 273JQ 

StcSS *“°'**» **» xi 80 

OMnapermatrictM . 

■ SP*-. - aWMO m5M 2tBSOO jqmivi 
gnwij XBJM XlQjn 297M0 BBM0 

fees wn- trey e en re 
■S tartl aaptrmabicten 

Spa*. 41080 41180 4M14H <ii«» 

Sla rttee po t matrlewn 

Spot Susp. S usp. 7- — 

Toremrt sup. . Susa. — — 
ZIHC 

StarttagMrmtncfM * 

;spa*.;- . .4nx <7450 mmo fnao 
StnetmtAP. ■ 
























































INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, DECEMBER 21-22, 1985 


Page 21 




RRENCY markets 


%W YORK — Tbe dollar end- 
. ver.io Europe and tbe United 
, on Friday af nr the U.S. Ped- 
Uaerve injected reserves into 
firing system, renewing speo- 
n that a art in the benchmark 
iBt rate was inmaaetL ■ 

dealers said few positions 
taken through the day and 
larkets hardy reacted to the 
s of tbe “flash'’ estimate of 
jurth-quaner economic d ata. 
ie dollar was selling off be- 
be GNP report, bounced up 
yon the report, then sold on 
the Fed nude an aggressive 
to supply funds," said Daniel 


Holland, vice president at Dis- 
count Corp. of New York. 

In New York, the dollar hit a . 


jUarCfosesLcnceronRateSp 

Hie British pound, meanwhile, 
aided fractionally stronger in the 
absence of any movement in oQ 
prices. It ended in New York at 
51.4315, up from SI. 4245 on Thurs- 
day. 

Earlier in London, the British 
currency closed at 51.4245 against 
the dollar, up from S1.4220 Thurs- 
day, and at 3.5845 against the 
mack, iro.from 3.5718. . . 

In other European mailt m* Fri- 
day, the dollar was fixed at njidaf- 
temoan in Frankfurt ax L52Q0 
DM.' nearly unchanged from ' 
2J205 az tbe Thursday fixing, and 
at 7.7220 French francs in Paris, 
down from 7.7290. 

(Reuters. UP1, 1ST) 


a. Tow of 2.5040 before dosing at 
2.5075, down from .2.5140 on 
Thursday. It also slipped to 202.40 
yen from 203.05; to 7.6925 French 
francs from 7.7100, and to 2.1050 
Swiss francs from 2.1100. 

In eadier trading in Europe, the 
dollar dosed in London at 2JJ00 
DM,_ down from 23115 at the 
opening and Thursday’s dose of 
2L5160. 

The dollar also slipped in- Lon- 
don to 20263 yen from 203.00 on 
Thursday and to 2.HI0 Swiss 
francs from 2.1 128. 


Trafalgar, Glen 
Move on Minebea 

The Assodwed Press ~ ' 

TOKYO — Trafalgar Holdings 
Ltd. of Los Angeles and Glen In- 
ternational PLC of London, which 
have made a hostile takeover bid 
forMmcbea Co, the Japanese ball- 
bearing company, took a step Fri- 
day toward becoming Minebea’s 
largest shareholder. 

The companies deposited with a 
transfer agent about 14 million 
shares of Minebea stock. The move 
-established their right to challenge 
Minebea’s attempt to merge with 
Kanemori Co., a kimono maker. 

Trafalgar and Glen charge that 
Minebea is buying Kanemori to 
dilute the value of Minebea stock 
and prevent tbe takeover, which 
would be tbe first by a non-Japa- 
nese company in Japan. . 


ifida^ 


AMEX 


TaMes include Hie nattonwida prices . 
up To tbe doting on Wall Street 
ond do not reflect late trades etsawbert. 


SH 


Plv.Y10.PE TOtefflQUlPw QucLQrtM 


(Continued from Page 20) 
n scgdeiizoo 110 

scedp< asi 30.1 
ft* SCEdPf 221 90 
IS SCEdPf 708 90 
Jl SCEdPf 006 90 


II 


061 


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3* Spodthn 

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16* SMS* I60DT2ZS 11 


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IS MW 22* WJfc— ft 
23* 2274 23% + 44 
79 79 79 +2 

9tt* mu mu— i* 
id* in* low + * 

r % Fts 
x ie 
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544 S torlS t« 
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I* Sonjr M 2.1 14 
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U* Sup?* 8 36 IO I? 

sar » 8 

5* swet* .10 IX io 


25 
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4 73* 73* 73* + * 

73 11 1044 1044— 14 

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2 7* 744 724 

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24 14ft Ito 1ft— * 
22 1944 19ft 1944— ft 

™ 'lft 'lft '?% + W 
m 5V. 5 514 + 14 

1 12 12 12 + ft 

IB 2344 23* 2344 + ft 
83 IS* IB 1844 + 44 
7ft 1ft 1ft 1ft— ft 
44 lift UV4 lift 
27 18ft 17ft 1794— * 
1V1 4* 4ft 4ft— ft 

461 24ft 24ft 24ft + ft 
102 3ft 314 344 
116 6ft 5ft 5«k— ft 


416 T Bar 
646 TEC 
i Tlf 


214 5ft 5ft 5W + 14 
23 7ft 7 7ft + ft 

4ft TIE 2802 6ft 5ft 6ft + ft 

5ft TH 24 91 7ft 7ft 7% + ft 

3ft TobPrt JO 1.1 14 68 18* lBft 1814- ft 

6ft TandBr 7 14 94* 9ft 946 + 16 

Oft Tody SI u m 51 20% ss^ 20ft + ft 

2ft Team 5 2ft 2ft -7ft 


03t 6.1 38 
.16 2J 21 


12 Month 
High Low Stock 


BN, YftL PE 


Sto. 

MCSHbhLo* 


Clue 

QuoLOfee 


314 

22ft 

2514 

6 

20ft 
244 
24516 
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40ft 
13ft 
in* 
514 
694 
10ft 
2714 
20 
7ft 
28? s, 
3ft 
5ft 
5ft 
1364 
34ft 
64ft 
SI* 
916 
1614 
21* 
29ft 
14 

191* 

lift 

1114 

1364 

61* 

B 

314 

221 * 

3114 

10 

314 


114 TchAm 
916 TchSym 
16ft TchOp 3 
3ft Techfp 
1214 Teditii 
1V4 Technd 
97 TelOOR 10Oe A 940 
1 Teleenn 
24ft Tel flex 
Bft Tajota 
614 TbIsC) 

Zft Tstoph 
4 Tenney 
414 Tensor 
2014 TpxCdO 
8ft TexAlr 


u 
18 
12 
U 9 


SO 1J 17 

ADO ID IS 

51 


rixAir 
4ft TexAE 


Jit £1 


ft Thor Eh - 25 

3ft ThrD B 116 IS 13 
314 ThrDA .10 U U 
6%Tohis 36 

29ft TolEdPf 425 127 
51ft ToiEdpf 7J6 12J0 
«5ft TMEdPfrOJM 127 
2V4 Tortal J9tl40 
24 

TotPt wt 


216 2ft 

jm aw + ja 

lift 1414 + 14 
116 116— ft 

26594247 +2 

Ift 1ft 
39ft 40 + ft 

« « zB 

3ft 3ft +14 
5ft 5ft— ft 
7 714 + 14 

S ft 21 % + ft 
ft 1614—14 
__ 4*6—14 
17ft 1714 

“ 3ft-to 

10** — 14 
3314- 14 
64ft +lft 
79 +ft 


23* TolPIpl 

Z88 

100 


13 

27% 

8 % TmsLx 

Wt 

10 

M 

421 

14ft 

12 % TrnsTec 
13* Trornan 


30 

IS 


17ft 

.44 

29 

7 

5 

15* 

8 TriSM 

JM 



40 

10 

4* TrioCp 

Utt 

90 

U 

57 

12 % 

3* TriHmo 



12 

15 

4M 

3% Trtdex 



U 

11 

6 

1* TubMOX 




182 

2 

10% TurnB n 



35 

19 

15ft 

22 TumrC 

1J0 

4L7 

10 

X 

25% 


7*4 TrnEen 
116 TvIrwU 


.ISe 17 


34 216 

770 Bft 

JS*". 

1 ’S 

3501247 

52 116 
&3 m 

340 13ft 
141 9 
234 394 

- 65 594 

12 7ft 
29 2116 
540 17ft 

53 414 

17 1714 
72 114 

2 3ft 
S 3ft 

390 1014 
700x 3314 
2370a 64ft 
KHZ 77 
53 214 

1093 15ft 1 
98 1ft ... ... 

»» 27ft 
ran U 
1666 16ft 
13ft 15ft 
914 9ft— ft 
1214 13ft— ft 
4 <16 + 1* 

a 6 + ft 

194 

24ft ^6 + ft 
«ft Sft + ft 
1ft 1ft 


Zft 2H+ ft 
15ft 1514— ft 
Tft 114 


122 

38 


3M 

314 

23ft 

13ft 

1516 

1114 

23ft 

26 

Zft 

2 

lift 

22ft 

■ft 

2314 

141* 

tft 

2164 

1516 


16 UNA 
2 U5R I ltd 
814 Ultra te 

966 Unicorn 

1116 Unlen pt 
816 Unbnar 
lilt. UAJrPd 
1616 UnCosFi 
1ft UFoodA 
lft u Foods 
lift UWod 
1214 USAfiwt 
5ft UnlMV 
lift Unillln 
9ft UiwCm 

664 UrdvRx 

15ft UnlvRu 
101* UnvPtd 





10 

% 




6 

2* 



IB 

190 

22* 



23 

30 

11% 

JS 

52 


6 

M* 

153elO0 


fffl 

ink 

04b 22 

14 

3 

23% 

100 

Zl 

7 

11 

23% 

.n 

7J 


46 

lft 




21 

1* 



II 

IM 

72% 




34 

20* 




20 

5* 

1 72 

7J 

7 

10 

23ft 



18 

23 

12% 



15 

71 

6% 

00 

ZB 141 

57 

21* 




34 

11 


% * + K 

1146 1116 
141* 1414 
10ft 1046 + 16 
23ft 23ft + ft 
23ft 231k 4- ft 
116 146 
lft lft 
1116 lift 

R ’SS + vS 

6ft 646 
20 21ft + 5 


1096 11 


10ft 9ft VST .950 95 35 10 

20ft 13ft ValtyR 4 130 U 11 1 20ft 

3Dft 1764 VahWT I 52 1J 13 27 30ft 

10 244 Verll 1 816 

2316 15ft VtAmC M 2.1 13 51 1916 


996 10 

§215=34 

8ft 816— ft 
1894 1896— 46 


a Month 
Man Lew Stock 


Ski. Close 

PN.YM.PE WteHbh Low Quat.Ch’BO 


6ft 

96 

13ft 

ift 

1016 

9 

494 

19ft 

m* 

1294 

Bft 


3ft VIRsh 

AXES* 

216 Vartrte 

146 VlntOfl 
13 Viral 

04 VteuafG 
7ft vopfw 

5 Vytjust 


» \ ^ : S + l% 

JO 1.9 34 69 %m T0« 1{K4 

1 39k 394 3T4 

5 ift 494 414— ft 

3] 44k 4ft <16 — ft 

23 264 2ft 2ft— ft 

jMr 2 16 42 20ft 19ft 30ft + ft 

^fiE.aj'10 4 9 9 9 +ft 

A <1 1 0 145 894 *6 8ft— « 

8 16 616 ift ift + ft 


W 


3ft WTC 16 

ift wtitEnn 1J8 1VJ. 

15 WoraB .16 J 

14* worse .11 J 

nl write wt 

ift WSlHl 7 

7614 w9iPst M JB 14 
15 WRIT! UB 7.1 13 
616 Wane a JO XI 12 
716 WatscB .16 1J9 15 

2 ivmmt 

7ft WHifdpf 2A2f 
Wabliwn 
At Wflbln wt 
16 Watxor 
246 w«loo Ja* 3 
714 WWtotn 02 14J 6 
746 Wsdfcti 15 

7 WoldTb JJ21 
Bft Waldtm 11 

— wbUco 4 

WaUAm 

MtaWD* 42 U 15 

5 ft-JKSSS 

B44 WsttH-9 JO 
ift WDtotn 
766 wotHlth 
17 W1RET 158 aj 13 
1114 WtirEnt 
2ft Wlchftn 

3 Wide** 
ft wlcteswt 

2M4 WlcfceopEUa 73 
29ft Wicks PUS50 65 
846 Wtanern AO 42 
*4 WKsnB 
194 WlnE B 

mS WMl* 2J4BIZ4 
37ft WKP nf 450 95 
2ft WoHHB 
1194 WkWW 52 23 
2ft WwdoE 
1264 WWdapf 150 125 
9 Wtorthn -2a 
lift wrotttr Jn .1 


ID 


ift 414 446 
m ift ift— ft 
_ 3014 1994 19ft— ft 
B 20ft 20 20ft + ft 
20S ft 16 64 

II U 13ft 14 
53 123 121ft 123 
85 lift 17ft 18 — ft 
2 ift ift ift- ft 
75 816 I 816—14 

» * £_ft 


a % % 

82 ft % 


17 



14 

ft 14 14 

7 294 2*4 296 

29 9ft 9ft 9ft— ft 
68 lift lift lift— ft 
9ft 9ft 9ft — ft 
846 894 + ft 

14ft lift + ft 

_ 3ft 3^ £-ft 

914 9 9 

12 111* 1144— H 

1064 10V4 1016 + ft 

111* 11 111k— ft 

19ft 1BU 19 

1664 16 lift — ft 

216 2ft 2ft 
41* 416 

... 216 2ft- 44 
813 3294 311* 3164— ft 

146 30 291* 29ft— ft 


1 'k 


k 


24 

Vft 

1 

Oft 

% 

X 

+ 

Ik 

181 

4 

3% 

4 

+ 

* 

«0 

3% 

3% 

3% 



X 

18% 

n 

70 

ram 

% 

5Dz 

47% 

47ft 

47* 

+ 

ft 

• 1 

3 

3 

3 ' 

—a 

* 

87 

22% 

21% 

22* 

+1 

231 

3 

2% 

3 

+ 

ft 

12 

14% 

14% 

14% 

— — 

% 

IO 

13ft 

13 

13 

— 

% 

2 

Iff* 

18% 

18% 

— 

* 


816 564 Yankee 


10 VS9 6ft 66* ift 


W4 3H Ztmor 


4fl 


53 596 51* 516 


Floating-Rate IVotes 


Dec. X 


Dollar 


tamr/HU. 

U* Dollar 
WKMIrtshH 
All M Irish 92 
Aiaadirtapani 
Arab 8ka Core 91/94 
Alton*: Fla® /ft 

«« 
Beo Not Low* 91 
8C0DI NOSH 97 
BcdDI Romo 87/71 
BvDI Romo 92 

iSwaeS 311 

B§S2»* 

BkGnw»fl/» 

BkHiWBHWMMv 

K inland » 
MontrtolM 
BkMenmn9i 

HLNWYotH 

BkNwTrandnAW 

BXNovoSegUalS/93 

Bk HlWD Sadia 94 

Bk Scotland Ferp 
BkTakvot] 
BkToMFMVn 
BkToinaDflcMm 

Bantu maria Ors 96 

BankmTiwtlB 

Batten TradM 
BIIOSIM96 

Ban Fla 87/91 

Saif 97 

BMMH 

BHInlft 

BUIM93(MttdTl 

BqlndDW*t97CaP 

BqindesonW 

Bus 09 

BteElWHN 

I97IT 


97(0*1 



I W 0/5 « 

BordmO/SPerp 

Barclays 0/5 *♦ 

BeWuniPwv 

MaiwnD«59/04IMti 

BeMunWdiHtitvi 

Betohna KUOS (Mtti) 

DabluniJiMS 

Brfalum 94/04 

Sstolwn Oct99S4 

CccoM 

Cct»M 

CKa 90/95 
cm io 

Obcfi'OUMthh) 
abeam 
Obc96(WUY) 
Cortmts+l.94 
Central Ini 97/08 
CMtnat 92/15 
GbataManO/sn 
Chase Mat Carp 09 
OkueMatCMpOo 
am* Mat 97 
Chemical 94 
Chemknl U (Wkly) 
Chamki49t 
aMmlcm Feb97 
ChaatlaY Od 97 
Chrtsrianla B49T 
ODstlanla Bk94 
Chrvriar92 
CthcorpM 

OtlOorpAuaBilWklV) 
aticorasanw 
CBtcarp Ptanti 
CBta«n>97 
CMcerpM 
OttcorpPtopW 
Coma ka 93 
Caraortca97 
GaiDOMRbk F«B89 

CommenUk Hm» 
Comm Urtt Mwnai 91 
Camp Fin Clc 77(6101 1 


Caapwimt Bid A«d 

Bft t+H U8.1H8U2 
tft 1784 10BJ0I882D 
Ift 208598381888 
•ft 

moms 

lft B7«S HOMBB,* 
Ift 066* 100J»T»20 
Eft S64H03BM8JI 
lft MM2 9957 9937 
(ft HMM 1BU5H8.U 
lft 2M599»nU 
Ift 2H5 9M2 99J2 
814 8586 99J0 9MB 
(ft 1141 9758 9850 
ft 0949 9846 9838 
Hi U* 99J5 MUM 
81* 16W9B.il 9851 
Bft n42tt28H30 
Ift IMDIMSWS 
Ift S43 MSlBl 18.15 
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Source : Credit Svtsse-FInt Beeton Ltd. 
London 


NTT Sets Purchase 
Of US. Equipment 

The Associated Press 

TOKYO — Nippon Telegraph & 
Telephone Corp. decided Friday to 
purchase 40 billion to SO billion yen 
($198 milli on to S248 million) 
worth of switching systems from 
Northern Telecom Inc. of the Unit- 
ed States, an NTT spokesman said. 

The spokesman, who asked not 
to be named, said the order would 
be NTTs biggest single-purchase 
contract ever. Northern Telecom, 
under a five-year contract, would 
deliver DMF-10 computer-con- 
iroDed digital switching systems to- 
taling 300,000 subscriber connec- 
tions yearly, he said. 

\ NTTs decision, he said, was 
reached after studying in detail of- 
fers made by Northern Telecom 
and American Telephone & Tele- 
graph Co. Tbe price estimate of- 
fered by Northern Telecom was 
lower, be said. 


Fridays 

OTC 

Prices 


NASDAQ prices os of 
3 pm. New York time. 

Via The Associated Press 


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. *■ 

% 

* 



8% 

AVOID 

08 

A 

566 

Wft 

If* 

79* 


* 

35 

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081 

1.9 

57 

A 

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ft 

11% 

oremk 



175 

13% 

13V: 

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— 

ft 

21ft 

artert 

t 


198 

17% 

17% 

17ft 

— 

* 

lift 

wni 



IB 

16% 

lift 

lift 



wears 



177 

IT* 

16% 

17* 



1 

ntrBc 

100 

51 

146 

35% 

35* 

35ft 



W „ — 

enlcor 


155 

Sft 

22 

22ft 

+ 

* 

9ft 


12 Manx 
HUD Law Stock 


Satnlp 

DM. Yld IMS HI* 


Net 

LOW 3 PAL OfW 


M 354* CenBc 236 00 

21ft 12ft CBktlS I 36 13 

31ft 1844 CRJBkj 
4ft 144 CermHt 
3344 Bft CetOS 
644 3V4 ChapEn 
27ft 1546 Charms 

21ft 12 ChkPnt 

ft 64* ChfcTdi 
3146 IBftOiLwn 
10ft 4ft 
IS Oft 
14ft Bft 

S2 13 




59—16 


42ft 


1516 

34 

13ft 

Bft 

1516 

944 

894 

694 

10ft 

2344 

lift 

B 

1244 


644 

46 

IBft 

0 

12ft 


1J 
. 10 * 10 


32 1 A 


08 0 


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aw 


12 . 

7ft 

37* 24ft 
47ft 274* 

«ft 27ft 1 

Uft 2M4 
2846 22ft 

BB. 

Ifft 1396 ' 

2646 946 ' 

49ft 26V 

« W . , 

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37 27X ColLfAc 100 23 

22ft 1516 CoIrTft 

22 15ft COtoNT .74 3L4 

14V4 5V4 cenrars 457 

25 u Carnot .12 J 419 
15ft 10ft Comdft) .16 1J 1816 

444 146 Comtflal <63 

45ft 2344 Cmoric 2JB 40 33 

45ft 26ft CmceU 104 23 148 

13 Oft CmlSift 36 40 M3 

444 44 CaraAm 

3046 16ft Com Inti 

124* I corns VI 
24 1446 CimCdt 

25ft 14ft CmpCrs 

ift 24* Camnus 

316 CCTq 
lift CmpAs 
746 CmpDt 
34* CptEnt 
Aft CmplH 
6ft CnWlAi 
544 CmpLR 
2 CmptM 
Aft CmpPas 
914 CmTAl 
34* Cmpulti 
lft CPtrft 
6 Cams/ir 
Vft 4 Concntl 
73 134* CnCap 3 

18ft 10ft CCaoR 1 
26ft 114* COroS 2 
894 644 ConFbr 
55ft 324* CnsPap 1 
5ft 3» ConsM 
lft Consul 
29ft CntIBc 5 
Bft OIHltS 
4 Cl Law 
494 Conwflt 

^ss^assie 

6ft 2*4 CoprCtr 
22ft lift CoareB 
16ft 5ft CapvM 
946 6 Corcom 

12ft 644 Cortils 
31ft 2146 CoroStl 134 
5 114 Corvus 

7ft Jft Cosmo 
16ft 10ft Crfcflrl 
19 1014 Crenux 

2946 2094 CrraTr 
144m 9 CwnSk 

34ft 15ft Crumps 
28ft 18ft CulInFr 
2fift 15ft Culum 5 
27 IBft Cvccn-4 


6—44 


4044 + 16 

3^±S 


1— ft 

lit 


X 19ft 
2214 2|ft 


i + lfc 


I— ft 


23 +16 


AO 


.14 


50 25 


144 Ift 
lift 17ft 
B 746 
1414 14 
lift 10ft 
12ft 12 
714 7 

54ft 53ft 
316 3ft 
2ft Ift 
4546 45ft 
10ft 10ft 
5ft 494 
12 11 
I4M 14ft 
lft lft 
« 4ft 
71ft 20ft 
15ft 1414 
7 7 

lift 11 
32 31ft 
lft 144 
414 394 
14ft lift 
18 17ft 
22*4 2244 
lift 14 
214* 21ft 
21M 21ft 
20 1946 

204* 20ft 


lift . 

8 +1 
14 
lift 

12—4 
7 + 1 

Sift +1 


1 — fc 


21ft +lft 
15ft + 

7 + 

IT 


»— ' 
Wft— ’ 


2244— ft 
lift + ft 


20* + ft 


17ft 

444 

13V 

32ft 

9ft 

117 

22ft 

lift 

9ft 

X 

5ft 

Bft 

746 

24 

19ft 

30ft 

216 

6ft 

lift 

546 

» 

15ft 

38 

4J*4 

29ft 

37ft 

30ft 

27 

13 

19 

23ft 

1§5 

3446 


10 DBA 
Jft DO! 

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44* DSC 

20ft DalxYSv 
23ft DalasF 
4*4 DmnBk) 
B3 DartGp 
13 Datcras 
Bft DM ID 
3ft DlSwtctl 

11 Datecn 
2 ft Dlasth 
4ft Datum 
4ft Dawson 

io 1 *. Dabsn* 

894 DodsO 


24 
101 
. 45 
DIM 
•36 
7 
IX 

.13 .] 20 

■24 1.1 X 

579 
625 
67 
312 
122 
92 

JS 3 08 

3585 


1516 1446 1516 + ft 
24* 294 — 

1246 12 _ 

01* 01k 0)4 + 16 
2946 28* 29 + ft 

31ft 31ft 31ft— ft 
794 744 744 — ft 

T1S 115 115 + ft 
7144 2114 214k 
lift 10ft 11 +14 

6J* 616 544— 14 

EMH 

4ft 4ft 414—16 
23ft 224* 23ft + ft 
12* 11* 194 +114 



37 

30 

385 


24 

24* +.* 

to Detkus 



W 

175 

1 

to 

* 

£+! 




418 

7% 

7* 

7%— * 




2052 

4* 

4* 

4% + ft 




271 

20 

19% 

19% 

3* Biased 



178 

5 

4% 

m 




627 

37* 

37* 

37*— * 




33 

41* 

4) 

41 

17* DlrGnl 

SB 

9 

352 

21* 

21* 

21* 


07 

30 

111 


34% 

34%—% 


.m 

10 

21 


M% 



08 

40 

S3 


19 . 

19% + % 


.Ui 

10 

17 


10* 

18% — * 




355 


13% 

ISft +ue. 




281 


21* 

21*—* 

14* DunkDs 

J4 

10 

337 


73* 

2?%— % 


06 

40 

575 


13 

13 —ft 


.15 

U 

31 


12* 

12* + ft 




142 


6% 

Ok 

17* DyntchC 



226 


33% 

34 


17ft 

15 
544 

414k 

12 * 

16 
1244 
12* 
18 
lift 
28)4 


7ft ECI Tol 
5ft EIP 
ft E OBIT I 
2544 E con Lb 
714 ElCIlle 
72*4 E/Pm 
644 Eton 
4% ElWtfl 
1014 Eldons 
ift ElccSto 
9ft EKMh 
84k EtoNud 
?7ft E/cRnt 
2 Eld Mis 
Aft EironEl 
7 EmpAir 
5* Emultix 
2ft Endta 
S* Entivcu 
ift EntiaLs 
15* EmCnw 
7* EnFoet 
8* E noons 

10 Enzobl 
Aft Eduat 
5ft EatOfi 
23* CrteTf 
Sft Eriyind 
11* EvnSut 
7ft Eppotr 


18 

.12 20 9 

1051 

UM 25 ID 

- m 
1J2 97 519 
716 

.16 1A 10 
336 
414 
329 
43 


7ft 




3 
310 
13 
12 
tan 
351 
118 

JO 15 58 

157 
315 

JO 11 140 
550 20 357 
19 

305 


7* 7ft 

Ih ftb' ftb 

s % 

15* 15ft 
12ft 12ft 
Oft Sft 
16* 16* 

Bft Bft 
15* lift 
18ft 17ft 
)8ft IBM 
Jft 2ft 
8ft 8 
lift lift 
lift lift 
Ift 3ft 
7ft 7ft 
7* 7 
27 25ft 
21ft 2D* 

13ft 131k 
12* Oft 
Bft 8 
ift ift 
29* 29ft 
10ft 1014 

isaia 


ilk + ft 
im— 1* 
7» + ft 
15* + ft 
Wft— ft 
Bft 

lift— ft 
844 

14*— ft 
18 +ft 

IBM 

3ft + ft 
Bft 
1444 

lift- ft 
3ft 

Tft + ft 

7 — ft 
26ft +lft 
21 —ft 
Wft— ft 
12ft 

8 

Aft + ft 
29ft— ft 
10ft— ft 
lSVh + ft 
lift + ft 


5* POP 


m 


7ft 7ft 7ft 


Q Monti) 

HUD Low Stock 


Dfy.YUL 1001 HM LOW 


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1 pal ora# 


1J8 24 


U2 4J 


10ft 514 FMI 
346 lft FomRskt 
22ft 10ft FormF 
7116 47ft FnraG 
23ft Wft FotiCpS 
7ft 3ft Foroflu 
174* 794 Ptbron 1 

3446 2W6 Fdicrs 

65ft 36ft FlfltlTO 100 20 
41ft 21ft nixie 40 17 
10ft 124k Fffirtk 40 42 
Sft 3ft Floated JO SO 
9 4* Ftnamx 

18ft 8* Ftotaan 
3716 21ft FAtaBk 1.72 3J 
34 25ft FIAFln JU 23 
27ft 164k FlATns .94 40 
2916 2M6 FCanarC 120 55 
916 544 PtConl 09*140 
191k II FExoC 
24ft 9 FFCal* 

26ft lift FFF7M AOb 10 
2914 13 PIFnCo AO 24 
21ft lift FtFnMt 
3446 211k FtFlBk 44 10 
43* 281k FJarN 100 45 
66 304k FMdB 106 32 

4246 25ft FNICXSlAD 33 
SO 26 FRBGa 100 Zl 
31 1946 FtSvFta 00a 2.7 

29ft 18* FSOCC 
28ft 19ft FTemo 
4516 3246 FotUnC 
Bft 1 Flake? 

16ft 18ft Ftonti 
22ft 15ft Fla Fell 
42ft 27ft FI ON FI 
79* 0 FlowS S 
17ft 1146 Flurocb 
8ft 3 Fanarh 
22 ,12ft FUanA 

21ft 1316 FUon S 
34ft 36 For Am 
3««k 1316 FarntO 
23ft lift ForfnF 
3ft lft Forms 
12 6 Forum 

7ft Sft Foster 
29* 1616 Frwiwt 
13ft 4ft Fudrek 
IBft 124* FulrHB 



1 




O 



1 

12* 




267 

A 

Z* 

2%— * 

16* 

9% Go llloo 



42 

14 

14* 

lift 


.10 

U 

570x 

7 

6H 

6% — * 

75* 

23* Genetcti 



107* 

70* 

Ay* 

69*— ft 

1091 

3, Genets 



321 

TO* 

10 

18* 

7% 

Mil G tmr* 



330 

2 

1% 

1% + * 

w 

9ft GaFBfc 



79 

25* 

24* 

25 — ft 

3% GerlMs 



222 

ift 

6% 

4ft + ft 

24% 

16 GtosGt 

24 

1J 

362 

19* 

19 

19* + ft 

28ft 

13 GtoaTr 



2 

13 

13 

13 

19 




144 

19* 

IBli 

IVft + ft 

26* 

10* Gott 



5 

24% 

24* 

24*— * 

10ft 

Mft GMridP 

36 

45 

77 

17* 

I<W* 

16% — * 

20* 

IO* Groco 

AS 

£6 

26 

20 

I9» 

20 + * 

9% 




17 

S* 

B% 

8%— ft 

14ft 

Sto Grams 



1 

13% 

13% 

13% + ft 

7% 

< GrabSc 



2503 

7% 

6% 

7* + ft 

12% 

20% 

6% GtSoFd 
10% Gteeh 



353 

219 

8 

M* 

2? 

17% 

7% + % 
IBM 

19 

12* Gullfnl 

set 

J 

1 

15ft 

lift 

15ft „ 

15% 

4k GKBdC 

UiOOC 


71 

% 


%— Ik 

II H II 

24* 

10% HBO 

J> 

1.1 

453x 

Wft 

18% 

18*- M 


m mm . 


J 

IS 

8* 

8* 

B*— ft 


8% Hci>n » 



95 

16% 

1 6ft 

16% „ 

7* 

3* 

3* HOdW 



11 

65 

% 

ft 

m-i 


13% HamOII 
15% HqtpGi 
26* Hrtnit 

JO 

1J 

417 

16 

li* 

15% + ft 

25% 

122 

1J 

40 

16 

294 

20 

35% 

19 

35* 

5%-* 

W* 

ID 

t Hattiws 
Vh HowkB 

J41 

25 

3& 

Bft 

3 

8* 

2% 

r+* 

8 



51 

1* 

1 

1 

ift 

1* Hlthdyn 
15* HctaAs 

.16 

0 

919 

1420 

20 

3% 

19% 

3% + * 

20 . + * 

24ft 

15% HchoB s 

08 

A 

160 


21* 

21% + * 







3ft .... 


15 Helix 



153 

20% 

Wft 

Tim +i% 



jnn 2J 

62 

33% 

33* 

33% 



100b 42 

112 

24* 

» 

24 — * 

1396 

9 Htotam 



9 

13 

lift 

ilto . 





278 

6% 

6% 



13% HmFAl 



2 

32ft 

32ft 

32* + ft 





173 

1ft 

1% 

1% + ft 




Zl 

162 

21* 

30* 

30* + * 


3* Harzlnd 



11 

4% 

4* 

4% 

36ft 



299 

35% 

35 

35%— * 


20 hmiUB 


3 

19 

2SVx 

28 

28.. - * 





79 

12* 

11% 

12% + % 



04 

12 

17T 

26ft 

26 

26* 


15ft Hvbritc 

ssra 



778 

31 

■JM 

30% 

17 

9 



121 

322 

'7* 

7* 

16 

7* 

1 1 ■! 





225 

9* 

8% 

99e—Yf 


Ci 1 ” 

JO 

0 

582 

32* 

31% 

21% — * 

15% 

IB 


21! 

264 

14% 

B 


14* 

8 

16% 




1441 

12% 

10% 







5% 

Sft 



32% ImflN 

100 

12 


50* 


». 

32 

21* IntoRsc 


616 

m 

■Uh 

27* 





189 

16% 

16* 

16*— * 


17* ImfNtW 



460 

23% 

22% 

23% + ft 





3951 

5* 

4% 


16% 

8% IntsDv 



151 

15% 

15* 


A* 

3 InteGton 
is* issaj 



93 

4 

5* 

17* 

S* 

IS 

3* + * 
17W+ % 





2251 




9* 

3 IntlSy 

1* IntrTel 



253 

67 

6% 

1% 

4* 

1% 

4M + * 

1% ! 

15% 

9% iRtrnd 



40 

Wft 

IV 



■ ■■fr,! J P J 

JO 

10 

812 

to 

14% 

Wfc— ft 



4052 

36ft 

3ift 

35ft— * 

TOW 




628 

13% 

in% 

12* 

f u nh mmm 

ll» + W 





13 

7% 

/% 

7%— to 

T7 

8 Intato 



762 

11* 


11* + ft 

18* 




156 

8% 

7* 


25* 

14% IntKUlff 



29 

19ft 

19V) 

Wto 





581 

16% 



12 

8* 

14* 

5ft inMdbN 
K (RIS 



107 

391 

ft 

12 

8 

ii R 

B* 

148— M 
11* + * 





21 

14 

13% 


10% 

5* m 



418 

10* 

Wk 

10 — * 

| 







1 

15% 

MJBMts 

.16 

14 

a 

Iff* 

» 

7DW +* 

8* 

44 

3% Jackpot 
28 JdCkLIe 

77 

29 

6 

43% 

& 

5* 

43* +VS 

35* 

ISft JamWtr 



326 



24*— to 

1% 

4* JefAtart 



398 

4* 

4% 

24* 

16 JeriC* 

.16 

J 

493 

Z3 

■m, 

22*—% 

7ft 

M J01 1 cbl 

t 


833 . 

7H 

7* 






198 

8* 


Sft 

24% 

f% Jump 



167 

24% 

24* 


20ft 

13% Justin 

00 

Z3 

36k 

18 


1 « — -J 



21M 20ft 
Sft Sft 
23ft. 23, 
16ft 16* 
10ft 10ft 
114k lift 
7241 73ft 

^flfc "flfc 
10ft 10ft 

18ft 18 
0* Bft 
lift lift 
12* 121k 


21 +16 
Sft— ft 
23 -ft 
Wft + ft 
1016— «k 

lift- ft 

7ZVt + ft 
55 +1 
64k- ft 
H)ft + ft 
2 

18 — ft 
Sft 

UU 

124k + ft 


12 Matin 
HUh Low Stack 


Dt». Yld 1001 Mflh 


Net 

Low 3 PAL OlUo 


11* 

24* 

23ft 

21* 

54 

26 

ISM 

17 

ISft 

61* 

32 

7ft 

15ft 

9* 


Sft 

20* 

39ft 

37* 

6ft 

49ft 

30* 

33* 

26* 

19ft 


5* LDBntic 
11 LSI Loa 
9* LTX 
9* Uj PeteO 
33* LaZBy 100 
13 LtKtFm .16 
11 LuMIW JO 
12* LamaT 00 
14* Laneust 32 
36* UamCa IJOa 
23ft LbwOlS 02 
4* UwDtO 
0* Lelner 
4* LowtsP J» 
2ft Lraclcon 
1* Lwddtn 
17* Llebrt 09 
41ft LFlnws 04 
4* LfeCom 
114k LJtvTol 00 
2)46 Unard 
28ft LlncTW 200 
ift Llndbra .16 
23ft UzOa 05 
X* LonaF 100 
15* Lotus 
19 Lynaen 
6 Lvptws 


452 

ito 

A* 

6% 

+ 

* 

1269 

22% 

22ft 

22% 

+ 

* 

1003 

12to 

12 

12* 

+ 

* 

19 

21* 

21 

21* 

+ 

ft 

21 


52ft 

53 



81 

35 

24% 

24* 

+ 

* 

200 

17ft 

17 

17* 



12 

14* 

lift 

14* 



65 

18 

17% 

17% 

_ 

U 

93 

62% 

61% 

62* 

+ 

ft 

34 

» 

28* 

28* 


% 

670 

5% 

5% 

5% 



5 

ID 

IS 

TO 



271 

B 

7% 

8 

+ 

ft 

1657 

03 


2ta 

2 

2ft 

2 

+ 

M 

32 

25* 

24% 

24% 

— 

to 

5 

47% 

47* 

47% 

— 

n 

544 

Bft 

Bft 

8% 

+ 

* 

613 

16ft 

16 

16* 


* 

571 

38ft 

30% 

38to 



4 - 

37ft 

37 

37 

— 

to 

32 

5 

4% 

5 

+ 

* 

524 

48 

47*- 

47ft 



56 

29% 

28% 

28% 



1675 

54ft 

23ft 

24 

+ 

* 

4 

22ft 

22ft 

22ft. 


to 

447 

19 

18ft 

19 

+1 


17 Matin 
HtobLow Stock 


Sales In 

DthYU. lot tiUi Lw 3 PAL Cti-pe 


15% 

7% PdooEk 

0Sr 

0 

2377 

8% 

6* 

Sto— * 

30* 

23% Petri Ie 

1.12 

40 

192 

38 

26* 

7S +1* 

13ft 

4* Phrmct 



282 

0% 

8* 

Sft 

12* 

7ft P5F5 

.I5e 14 

1400 

11* 

10% 

11 + ft 

21* 

14* PtlMGI 

50* 23 

7299 

21% 

21* 

21% + % 

4* 

2 PhnxAm 



S3 

3* 

3 

3* 

31* 

IBft PkcSov 



1999 

33 

32% 

32% 

27ft 

16* PicCate 

JO 

23 

33 

27% 

26% 

27ft + % 

39% 

29ft PlanHI 

104 

23 

207/ 

38ft 

38* 

3J*-ft 

W* 

7 PlonSt 

.12 

1J 

199 

TO 

9% 

15 

«* PaFaflc 



38 

11* 

11* 

11* 

34% 

16ft P lev Mo 



966 

33* 

22% 

23 

27% 

21 Pore* 



178 

24* 

24 

24* 

3% 

1% POWMI 



40 

1% 

1% 

1% 


M 



2m + ft 
14ft + * 
22 + * 
3W— ft 
7 

— H 
— ft 
846— ft 
7ft— * 
2ft 
IBft 

+ 4k 
+ ft 

4ft— ft 

2FU— U 
Bft 
1216 
23 +1 

11 + * 
37ft— * 
78 ft + ft 
17 

1946 + * 
3* + ft 
17 + ft 

IBft + 4k 


9 

6* 

11 * 

22ft 

90* 

»* 

Wft 

36 

7* 

5* 

7 
0 

II* 

9* 

27* 

42 

12M 

33ft 

X 

20* 

3D* 

14ft 

4* 

M* 

21ft 

52* 

57% 

8 

9* 

19Mi 

20* 

36ft 

24% 

63ft 

7 

9* 

Wft 

13* 


2ft NCACp 
2% NM5 
5* Nancao 
16ft NBnTex 
37 NttCtv 
13* NKPfrs 
7* NData 
12 N KUCs 
ift HILumb 
2 Niton 
1* Nauale 
6 NatonT 
4* NcUttl 
4* MwfcSoC 
16 NtwkSti 
21 Neutras 
7ft N BrunS 
19* NHmoB 
21* NJNtl 
9ft NwMBk 
IB Newpt 
Ilk NwpFti 
* NICalo 
746 NikeB 
15 Norctin 

28* Nonutr 
30* KrskBs 

Sft Norstan 
5 NAttln 
6% NestSv 
151b NwNC 
19* NwNLI 
l*k NwstPS 

48* Maxell 
4* NudPh 
4* Numrnx 
10% Humrcs 
6* NuMeds 


133 

B0 

164 

38 14 237 
225 (J HI 
JO J 156 
A* 20 117 
04 L9 116 
107 
1094 

*>28 
.151 87 

555 
79 
4071 
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301 

00 20 411 
1.12b 3J 15 
■10e 0 600 
06 0 1786 

1795 
577 

00 20 1084 
08 30 66 

04 J 392 
Jffl A 441 
158 
34 
2W 

102 S3 161 
08 12. 113 
208 09 47 

108 10 224 
206 
5» 

06 U 6 
1111 


3* 2* 3* + ft 
4ft 4 4 

18* 9ft 10 — « 
22* 22* 22% + ft 
49% 49* 49* + * 
35 24* 24* + ft 

17ft 17 17ft + ft 
17ft 17 17VS + * 
4* 4% «*— * 
3* " 

4* 


4% 

3 

... 4ft 
Aft a* 

6 5* 

5* 5* 

23ft 22 
39* 39* 

B* 8ft 
33 32* 

35* 35 

22 r 

'*% 
14ft U* 

18 17ft 
51ft 50* 
50* 47* 

Aft 

7% . 

IBft 18 
Iff* IBft s 
25 24ft E 
24* 24% 

r 

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lift + ft 
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102 

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173 

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1 JO 100 


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T2ft 12% 12% 

28ft 27% 28* 

11% 11* lift + ft 
6% 6ft 6* 

8W 7% 7ft— ft 
7Dft 69% 70ft + * 
13* 13 13ft + ft 
4ft 4 4 

•47 ft 47* 47* 

lift n lift 

30* 29M 29% 


15ft A QMS 586 9ft 9* 

9% 3% Quadnc 217 Sft 0% 

13% 9 Quakes 02 34 23 12ft 12* 

32* 18 Quentin 1291 27% 27 

Sft Zft QuealM 192 4ft ift 

10% 8% Quixote 124 18 17* 

16* 8 Qaotrn 8400 lift 11* 


9% + ft 
Hk— ft 
12*— * 
27* 

4ft 
17% 
lift— ft 


12* 

19* 

16* 

W% 

10ft 

Tft 

%£ 

7* 

23% 

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35% 

12% 

7% 

10 

12ft 

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35% 

lift 

Wft 

AD 

"A 

17ft 

24* 


5 RAX 
13 RPM 
8% RadSvs 
7 RadtnT 
5ft Rattan 
3 Room 
23* Rotor X 
12ft RaVEn 
1% RedCr 
17* Readna 
5ft Recoin 
25% R*«»ui L 
5* Reaves 
4% RpcvEI 
11 Reels s 
3ft Ren ab 
7ft RpAuto 
9% RpHltti 
11% Reetrair 
6% Reutarl 
19ft Reutrti 
29* Roy Roy 
10ft Rhodes 
3% Rlbtlms 
11% Rival 
24% RoadSv 

11 ftoDNuO 
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16ft Rouses 
6% RuvPbn 
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to* Rust Pel 

12 RyonF s 


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401 
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100 29 451 
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00 40 
1.10 12 
06 4 


6% ift 
18% IBft 
14% lift 
lift 10% 
7ft 7ft 
3* 3 
34ft 34ft 
lift 18* 
lfc lft 
21 % 21 % 
TO* 10* 
33% 33 
lift 10ft 
6% 4* 
17* 17 
Sft 4ft 
9ft 9ft 
10% 9% 
19% T9% 
9* 9 

27ft 27* 

sift n* 
x* 20 

7 Aft 

17ft 17% 
X 34% 
13% 13ft 
9 0% 

25ft 24% 
9* Bft 
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lift 11% 
23* 21% 


6% + ft 
18% 

14*— ft 
10% 

7ft + * 
3* + ft 
34% + ft 
ISft + * 
lft 
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lffft + * 
33 — % 
11 + * 
6*— ft 
17 + * 

5 + ft 
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51* + ft 
20 + * 
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17ft + ft 
34% — * 
13% + % 
B%— * 
25* 

9% + ft 
2%— ft 
lift + ft 
21% — ft 


422 

2S3 

228 

■10r 10 74 

.30 43 278 
34 3 1773 

100 30 174 

1213 
205 

300 33 113 
437 

14 

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477 


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15% 10% SCI Sy 
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11% 5% SFE 
23 16. SR! 

26% 6 J» Selecd S 
46% x* Safeco 
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22ft 7* SUuda 
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10 ift SraiBar 
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21ft 12ft SBKPS& 

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15% 0% Scherer 

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8% 4% Seaoalo 
ift lft SecToo 

7ft 1% SEEQ 
X* 16 Selbet 
9% Sft Semlcn 
9% 6* Sensor 
16% 11 SvcMer 
25ft 17ft Svmjts 
27 13% Sorvlco 

Tft 4ft BvcFrct 
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37% 24% ShrMed 
41% 29* 5hwml 
25% 12% Shelbvs 
14% 8 Shefcns 
31% 22ft 5honevi 
15% 10 Slwnsao 
TO* 3% 3 maxi 
17ft 9ft 3 II IconS 
28ft 11% SO level 
24ft 12 Sfllcnx 

11% 3% 5mec 
17% 12% Stinpln 

15* i Oft Stool ns 

18* 9% staler s 
12% B% Sktooer 
4 1% SmiltiL 

34* Society 104 30 
26% 11% SodvSv 
11 6% Softeth 

21% 11% StstlwA __ 
31% 19ft SartoCP ■ 08a 12 
22% 14* SonrFd 000 30 
6% 3% SoHo» 

X 20* StMFn 
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17 13ft Spire 
13 Jft StarSur 
9* 5 SMBId 

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14 

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102 22 


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6 % 6 % 6 % + % 
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25% 24% 25% + % 
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II 10% II 
20ft 30 2D% + % 

81% 81ft 81% 

5% 5% 5% 

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21 20% 20% — * 
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16* 15% 16* 

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17 Month 
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Met In 

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04 

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15* Aft Zondvn 


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1J6 30 39 

S 
40 

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24ft 24* 24% — ft 
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3* 3 3 — Ik 

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Soles ftoureo ore unofflctoL Yearly highs and Inwi reflect 
the prevhn» S3 iraetei plus tho current week, but net the toteet 
Iradlnp doy. Where a spill or stock dividend emourtHns Is 25 
oer cent or more has been paid, me years ntoh-htw range and 
dividend two shown (or Ihe new stock on/v. Unless otherwise 
noted, rotas ot dtvtdencts are annual disbursements based an 
the latest Declaration, 
a —dividend also mtratol. 
a— nwal rate at dividend plus stock dividend, 
c— HouKtottnD dividend, 
dd— called, 
d — new yrarly tow. 

e — di vidend deck) red or paid In pracedirn 12 months. 
b— dividend hi Canadian hinds, auMect to 15% non-reel dcnce 
tax. 

I — dhridend declared after uUNjp or slack dtvtdend. 

t -dividend paid this year, omitted* deferred, or no action 
ken M tot esi dtvtdend meetlna. 
k— dividend declared or paid this year, an occumutotlve 
Issue frith dividends In arraan. 

n — new Issue In me pen 52 weeks. The Mu Mew nawe begins 
with the start at IradtoB. 
nd — new day dethrary. 

P/E — prtce-Mmtofffl ratio. 

r — dhridend Hectored nr paid In preceding 12 months, trios 
stack dividend. 

s— .stack spur. Dividend begins with ante at ssm. 
sis— sales. 

t— dividend paM to stack to preceding 12 menthe. estimated 
cash venue on ax-dividend or ex-dtstribotton date: 
o — new yearly high, 
v — trading hailed. 

vl —In bankruptcy or receivership or be) no reorgontiad un- 
der fly Bankruptcy Ati.or securities assumed by such com- 
panies. 

wU — whan distributed, 
wt— when Issued, 
ww — wftft uamsnia. 
x — exHllvhMnd or ex-rlgtits. 

Mils— ex-dWrfewfUifl. 
xw — without warrants, 
y — exKkvldene and salea in full, 
ytd— view. 

1— sales tol uil 


i 








Page 22 


ACROSS 

1 Comedienne 
Peggy 
5 First V.P. 

10 Floridian 

Reubin 

15 Jezebel's 
husband 

10 Arthur from 
Richmond 

20 Olympic locale 
of 1988 

21 Maui neighbor 

22 PBS show 

23 Yulegifis from 
Bigfoot? 

26 Superficial 

27 Kind of jelly 

28 Yes follower 

29 Unfold 

31 Vermont's—— 
'Creek 

32 "Ain’t She 
Sweet?" 
composer 

33 Polite Post 

34 Cosmetician 

Lauder 

3$ Located 

38 Foretold 

41 Interwove 

43 Appomattox 
name 

44 Gorky river 

45 Book ascribed 
to St. Luke 

48 Bears’ founder 

49 Busch and 
Marsh of Aims 


ACROSS 

50 Shoelace tag 

52 Startling sound 

53 Water-polo 
team 

54 Regal 
Egyptian 
name 

56 memoire 

57 Cambridge- 
shire’s Isle 
of— 

58 Birdhouse 
dweller 

59 Title in 
Bangalore 

GO Yuletide drink 

62 Weatherwax’s 
collie 

64 Cocked hat 

66 Pres. Ford, 
e.g. 

69 Jot 

70 "Unsafe at 
Any Speed" 
author 

71 What Claus is 
coming co 

73 Singer’s 
syllable 

74 Choreographer 
White 

76 Dawdle 

78 TV talk-show 
hostess 
Freeman 

79 Unit for Steve 
Cram 

80 Aquarium fish 


ACROSS 

82 Some noncoms 

83 Pole in a 
Gaelic game 

84 Nabors role 

85 Suffix for 

sheep 

86 Questionable 
88 Circus-parade 

sight 

90 ’‘Hurry!" 

92 Actor 
Markham 

93 “Ariel" poet 

96 Originated 

97 Touch down 

98 Hood's missile 
100 Idaho, e.g. 

102 Sally 

104 Southwestern 

saloon 

106 High: Comb, 
form 

107 Buddy Rich, at 
three? 

1 10 Redolent 
garlands 

111 AsisterofClio 

112 Evans of 
“Dynasty” 

113 Receive a 
stipend 

114 Nutmeg 
product 

115 American 
saint 

116 Hanker 

117 More 


Yuletide Spirit By JotmlW. Sanson 


PEANUTS 


OH, He lEEFSBeSY.. 


mespbipsther^ 

LOOKING FOR THINGS 
HE5 MISPLACED- 


DOWN 

1 Portland’s bay 

2 Wily 

3 Attire for 
Wilander 

4 Hides ' e 

5 Similar 

6 "1 Care," 

1905 song 

7 Rosario loc. 

8 Hodgepodge 

9 Gluts 

10 Southwestern 
N.Y.- 

university 

11 MorleyofTV 

12 Kind of jerk 

13 Mug's lug 

14 "Star Trek” 
principals? 

15 Zambian 
neighbor 


DOWN 


DOWN 


16 Advice to a hall 
decorator? 

17 Tel — - 

18 Creche 
cynosure 

24 Black in 
“Nashville” 

25 Exhorted 


39 Supplemented, 
with “out" 


30 ACTION 
program 
33 Wipeout 
35 Heavenly 


36 Song new 
parents long 
for? 

37 instant 

(immediately) 

38 How every 
Santa should 
look? 


40 Coin 

inscription 

42 Roller 

43 Winning hit, in 
baseball lingo 

45 Second son 

46 di Rienzi, 

Roman orator 

47 Heilman’s 
Christmas Eve 
work? 

49 Lord’s 
residence 

51 Dippy or dotty 

53 Loretta from 
Passaic 

54 Heiden’s skate 

55 Spring- 
blooming herb 


TO A VIOLENT GRAVE: 

As Oral Biography of Jackson Pollock 
By Jeffrey Potter. 303 pages. Illustrated. 
$19.95. 

The Putnam Publishing Group Inc., 200 Madi- 
son Avenue, New York, N. Y. 10016. 



S 


100 

101 



106 




110 




114 





DOWN 
59 Fair 
attractions 
61 Hawks' 
Georgian 
home 

63 Hang glide 
65 Lifcea 
flophouse 

67 Russian sea 

68 Scruff 

72 “The Love 

Belongs . . 
Kahn- Jones 
74N.B.A.’s 
Birdsong 
75 Retreat 


DOWN 

77 Actor Davis 

78'Tisthe 

seasoning to be 
chary of 

81 In progress 

83 How Frank 
speaks? 

84 Place for a 
partridge? 

87 They comfort 
heels 

88 Actor in “Tony 
Rome" 

80 Santa's 
alternative 
vehicle? 


94 Clannish, in a 
way 

95 Tee privileges 
97 Numbers 

game 

99 Levi of the 
links 

100 Victorious 
symbol 

101 Olive genus 


BOOKS 


Reviewed by 

Christopher Ichmann-Haupt 

J ACKSON Pollock (1912-1956) is very much 
alive a gain in the pages of this oral bioigrapby- 
Compiled and written fay Jeffrey Potter, a friend of 
Pollock’s who lived near him on Long Island. "To a 
Violent Grave” usefully supplements B. H. Fried- 
man’s admirable 1 972 biography, “Jackson Pollock: 
Energy Made Visible,” which, as Friedman admits 
in these pages, did not anticipate the enormous 
growth of PoUodr’s reputation. 

In the pages of “To a Violent Grave,” we see the 


birth of the legend in perspective. Through the 
of Pollock’s family, friends, colleagues 


testimony 

and neighbors — as weD as Potter, who developed a 
typically complex relationship with the painter — 
we watch Pollock grow from the pampered youngest 
child of a mother-dominated family from the Amer- 
ican West to the figure about whom it has been said, 
“There was art and then came Pollock- n 


We hear witness of the two sides of his character 
— gentle, inarticulate he was when sober, and a 
violent bully, no better than “a Bowery bum,” when 
drunk; and drunk he apparently was through most 
of his career, except during those few extraordinary 
years when he evolved and mastered his famous 
“drip” or “splattering” technique. 

We explore the origin of that technique. Some say 
it lay in Pollock’s knowledge of Indian sand paint- 
ing. Others see it in Surrealism and Dadaism. Some- 
one else asserts that it happened because during 
World War II “yon couldn’t buy brushes, which 
may have led Jack to try his sticks.” Another says it 
must have started because Pollock was drinking. 
The most eloquent insist that, no matter how it 
began, it was no mere trick. 

As the artist-printmaker Stanley Wiliam Hayter 
exclaims: “A lot of our people said this was non- 
sense, that anybody could do it. That enraged me 
and 1 said, ‘Go to it, and IH bet you that not one of 
you can make one square inch of anything that 
could be mistaken for what Pollock’s done, what I 
would do, what the machine has done.' And they 
couldn’t because it’s absolutely distinctive, more 
than bandwriting. It’s like attempts at faking Pol- 
locks: You can’t be fooled.” 

From such ecstatic outbursts of praise we de- 


DENNIS THE MENACE 


Solution to last Week’s Puzzle 




scend to dissections of the 
gy. Here was his inexpressible rage, bis sense of 
suffocation by his mother, and the violent conflict 
between his masculine and feminine selves. It is 
almost too archetypaL 

So it is not just with morbid fascination that we 
race through the details of Pollock’s death — the 
ch op's of voices recalling how the wrecked car’s 
horn wouldn’t stop blaring and how Pollock’s body 
was finally found in the woods some distance from 
the accident. It is to help us decide whether the act 
was a suicide and a fulfillment of his destiny, as 
some of Potter’s speakers contend, or whether’ Pol- 
lock died of drink, bad roads and trees, as a local 
doctor put iL 

Wisely, Porter does not force conclusions on the 
reader. He weaves his voices together so that we can 
pick out our own version of Pollock's story. 

As arresting as it is, however, the book could have 
been much better. There is little attempt made to 
introduce the speakers in such a way that they 
identify themselves or one another. Similarly, there 
is insufficien t interplay of the voices to establish 
their credibility as individuals or the full potential 
drama of their relationships. There is a lack of foil 
dimension to the shape of the book. 

This is a little surprising in light of the authors 
apparent credentials. Besides being a friend and 
neighbor of Pollock’s, Potter is a writer with a 
biography of Dorothy Schiff to his credit, as weQ as 
two books called “Men, Money & Magic” and 
“Disaster by OH” He explains that be had original- 
ly kept notes on his meetings with Pollock “in the 
, of using him as hero of a novel to be called 


7 mfflioMAf&tuAior 1 

l um/trivAOTiie hmm iou Re) \ 



REX MORGAN 


YOU KNOW, 1 WAS 
THINKING MAYBE 1 -SHOULD GIVE UP 
MY APARTMENT AND JW3V6 BACK INTO THE 
BIG HOUSE WITH OKDi* 


OOMT YOU CARE, SB f WHAT 
ARE YOU GOING. TO DO-WATCH 
HIM— BE HIS CHAPERONE*^ 
BESIDES, IT WOULDNT BE 


TWO.' WHAT 
ARE YOU 
doing here; 
fe. AT THE 


K I’M SORRY, SWEET- 
[ HEART ! I'M TIED UP- 
BUT WELL MAKE IT, 
ANOTHER TIME I 


Outsider* " but “by the time the project was 
ingor i 


abandoned, the taking or notes had become a habit 
They have been used as the basis of his statements 
heron, and while they are not always direct quotes 
— his words could be too unprintable and his 
utterances too baiting far that — their meaning and 
feeling are his.” 

Given these ambitions, one wonders why Potter 
did not try to exploit the full potential of the 
documentary form — why be did not orchestrate bis 
material more artfully or play with its many posable 
leitmotifs. As it is, be has been satisfied merely to 
compile remarks. 


Christopher Lehtumn-Haupt is on the staff of The 
New York Times. 



'l£T!5 JUST SAY MOW COULD SURE USE A NEW 
BUD VASE FOR CHRISTMAS. 


WEATHER 


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C F C P 

28 S3 31 70 d 

1 34 -8 18 O 

19 66 14 57 tf 

71 70 II 55 d 

1 34 -8 18 fr 

r 48 0 32 o 

3 ) M 24 75 o 

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10 50 3 37 el 


AFRICA 


Algiers 
Cairo 
C«W Town 
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Harare 
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IfcriroM 
Tsais 


18 M 8 44 d 


— — — — no 


23 73 18 AT 
30 68 V 48 
17 a 




16 61 

18 64 13 55 

LATIN AMERICA 


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27 81 15 59 


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Lima — 

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NORTH AMERICA 


Altaete 

Boston 

CMcapo 

Denver 

Dtfroir 

Honolulu 


Ankara 
Be trot 
Damascus 

•Mrvufeffl 

Tel Aviv 


l 34-n 12 a 


— — — — no 


U* Atoms 

Miami 

Minneapolis 


“ ™ Mod real 


11 52 
17 «3 


OCEANIA 


AecttuNt 22 72 15 59 

Sy*wr 40 184 23 73 

cPcfevdr; to-towy: fr-foir; It-holl; mwcm; ec-oorttv 
sh-showvri: mnw: sf-etarmv. 


fr 


New York 

SanFrasetscB 

Seattle 

Taranto 

Washington 


S2 -5 
39 -4 
28 -10 
12 -16 
45 -6 

W -14 
81 16 
57 2 

82 13 

72 13 

I -22 
3 -9 
82 18 
28 -8 
57 7 

57 7 


23 fr 
25 PC 
14 fr 
3 sw . 
21 fr 
7 sw 
61 fr 
36 fr 
55 fr 
55 Ir 

-8 PC 
16 SW 
64 PC 
18 d 
45 fr 
45 fO 


X -6 
ctoudv; 


2i cl 
rraln: 


SATURDAY'S FORECAST CHANNEL: Very chappy. FRANKFURT: Foray 
•arty, ctoiMvIator. Temp. 17 — I (63— XI. LONDON: Rain early, doodylatw. 
Temp. 1 1 — 8 (52— 46}. MADR ID: Cloudy. Tamp. 3— 2 137— XI. NEW YORK: 
Portly cloudy. Temp. 0— -5 132—01. PARIS: Foggy early, overcast War. 
TentP. 13 — 2 (55 — 36). ROME: Parly eleudv. Temp, n — 3 {52 — 371. 


TELAViy:Ctaudy.Temn.l7— 7(63— 451. ZURICH: Fmsvearlv.dcudv later. 

.... t; p o|f . TefnR 5 1 _ M HONG 


Temp. 16—0 (61 — 32). BANGKOK: . ... 

KONG: Fair. Tamp. IB — 14 (64 — 571. MANILA: Cloudy. TontpJS — 21 
(84 — 70). SEOUL: Foaav. Temp. -1— -9 130 — 16). SINGAPORE: 
Thunderstorms, Temp. 38—74(86 — 75], TOKYO: Fair. Temp. 10 — 3 (50— 37). 


Wbrid Stock Markets 


Via Agence France-Presse Dec. 20 

Goring prices in local currencies unless otherwise indicated. 





Close 

Prev. 

ABN 

81 

56550 

ACF Hototoo 

287 JO 

285 

Aeoon 

ritjo 

It. ■ 


140 

Pi 

Ahold 

82 

7X» 

Ajudv 

8X30 

82 

A-Dom Rubber 

9J0 

950 

Amro Bank 


i.- L ■ 

BVG 

249 

*48 

Buehnrvm T 

13230 

13050 

Colc-xJ Hide 

2970 

29 A0 

EbevleT-NDU 

190 

183 

Fokker 

74J0 

% j w ■' J 

6ts( Brocades 

280 




rs i V 'M 


■jT'J 

1 ‘ta ‘M 

KLM 

54.10 

5430 

Noarder 

5X50 

i yi 

Nat Nader 

■m 

ml 

Nedltoyd 

284 

20350 




Pofchoed 

85 

84 

Philips 

61.10 

59.10 

QaLi>/— 

BUD 

8X30 

Rodamca 

13SJ0 

13530 


7X50 

7X20 

Rorenle 

46M 

46.90 

Royal Dutch 

17860 

17450 

Unilever 

399 JO 

396 


E-. 1 

SUO 

f 1 ■■ 

285 

*82 

VNU 



ANPXB5 Gem index : 2SU0 

Pnrrtovs : 2».1» 



|] Ih ifttoiiln 1 

Arbed 

2700 

2690 

Befaaert 

B79Q 

(600 

Cocker III 

197 

198 

Cobeoc 

4400 

4370 

EBE5 

3845 

3805 

GB-Inno-BM 

5020 

5000 

GBL 

2500 

2500 


4970 

4935 

Hoboken 

5700 

5610 

Inter aim 

3040 

29M 

Kredietbenk 

11200 11200 

Pel refine 

8850 

8490 

Soc Generate 

2273 

2220 

Safina 

8150 

*1« 


6150 

412? 

Traction Elec 

4630 

4690 

UCB 

5550 

5800 


2298 

2290 

Vtollla Montoene 

5730 

5730 

current Stock Index : »kjj 

Previous : 287X3* 


{ Fraafcbrl | | 

AEG 

29350 23350 1 

Allianz Van 


a ni 

Altana 

436 

a, 

BASF 

26750 28420 


26950 268J0 

1 

511 

489 



493 1 

BBC 

294 


BHF-Bonk 

m 

4*7 

BMW 

562 

365 


32850 30950 

1 1 M 

s i a 

Daimler-Benz 

1190ta 

1154 


42550 

421 

Deutsche Babcock 207J0 

207 


895 

■ .’Ll 

. rl .. ■ 

410 

390 

GHH 

26050 

KlII 

Harpon er 

345 

347 j 


Hochtief 


Hoosdi 

Horten 

Hu*sd 

nmcA 

Kan+Satz 

Kontodt 

Koufhof 

KtoadaterH-D 


Krupp Stahl 
Unde 


830 119 

27190 270 

16L5D W8J0 
215 212 

42D 41X58 
321 323 

273 2 80 

m 322 
340 341 

ns 317 
91A8 9Ui 
170 142 

5BL58 562 


MAN 

Mannesmann 

Muench Ruecft 

Nlxdorf 
PKI 


224 222 

29190 281 JO 


KK" 

RWE 

RheinmetaQ 

itr" 

Semens 

Thmen 

Vetoo 

voHawagenwcrk 
WO lo 


563 sa 
720 714 

1250 1260 
257 355.10 
151 15OJ0 
192 18840 

SUO 477 
434 625 

350 339 JO 
. 715 687,80 
MSJVI6S5D 
2W29O50 
444 437 

ns 721 


CMManbcaik Index : H7U8 
Previous : U2SJM 




Bk East Asia 
Cheung Kona 
China Liam 
Green idand 
Hon# Sena Bank 
Hende r s on 
China Gas 
HK Electric 
HK Realty A 
HK Hotels 
HK Land 
HK Stans Bank 
HK Telephone 
HKYawnatol 

HK Wharf 
Hutch Wha mp oa 
Hyson 
Inn City 
Jardtns 
•lord toe Sec 
Kowloon Motor 
Miramar Hold 
New Worm 
SHK Prone 
Stalin 

SwtraPacHieA 

Ta] Cheung 
Watt Ksm 
Wing On Co 
Winsor 
World Inn 


2430 3L80 

21 2BJ9 
U50 15 

755 745 
4X25 4159 
2.125 2.18 

1X90 1X90 
us us 
11.90 12JQ 
J4JD 34 
640 6SC 
735 730 

935 9.9S 
1925 335 
738 735 
2630 2830 
031 036 
0.99 099 
133 1330 
. 15 1430 
10.10 1030 

39 3X50 
WO 690 
1230 1X70 
1.93 US 
3035 2"S4 
2 2023 
nee UO 
1J7 1J7 

S2S SJS 
3J3 163 


Hang Sena index : 1728,14 
Previous : 17263 




AECI 

Anglo American 
Angle Am Gaia 
Bartow* 

Blywor 
Buffets 
De Seers 
Drietontoto 
GFSA 


915 913 

3925 3S75 
20000 19708 
U» 1345 

IS IS 

7950 7125 
1610 1570 
4900 400D 

3700 3825 


Ciesa Prev 


Harmony 
HlveM Steel 
Kloof 
Nedbonk 
Pres Stern 
Rusrtct 
SA Brews 
SFl ' 


Wed Holding 


400 400 

3323 227S 
805 790 

5850 5700 
2539 2440 
820 8% 
1950 3950 

ta ta 
7400 7350 


Composite Stodi Index : ILA- 
Prevtous : NA. 


AACorp 
AJitod-Lrons 
Angle Am Gold 
AM Brit Foods 
A3s Dairies 
Barclays 


sum 

263 
■ *55 

260 

144 


BJLT. 

Bceanm 

BICC 

BL 

Blue arcie 
BOC Group 
Boats 

Bowa ter Indus 
BP 

Brit Heme St 
Brit Telecom 

Brtt ' 

BrttDll 
BTR 

Burmatt 
Cable Wireless 
Cadbury Sdiw 
Charter Cons 
Commeiiial U 
Cons Geld 
Courtoulds 
Datoety 
De Beers, 
Distillers 
Driehntato 
Fiwns 
FraeSl Gad 

GenAeddent 
GKN 
GtaMC 
Grand Met 
GRE 
Guinness 
GUS 


655 


XU 

228 

27 

566 


260 

146 

452 

650 

310' 

335 

241 

27 

561 


256 

301 

546 


189 

453 

205 

366 

271 


305 

546 

336 

191 

459 

206 

370 

270 


Hawker 

ICI 

imperial Group 


Lend Securities 

Legal General 

Lloyds Bank 

Lonrta) 

Lucas 

Marks and Sp 
Metal Bax 
Midland Bank 

Mart West Bank 

&SS Q 


PrudmtM 
Race! Elect 
Randforrtrti 
Rank 
Reed Inti 
Reuter* 


155 
203 
22S 
452 
188 
218 
443 

478 
SIM 813% 
438 440 

SI 8% *19ft 

166 178 

713 713 

253 254 

13 267641511/32 
396 391 

7TJ 
295 
940 

198 
441 
732 
» 

330 
295 
734 
464 

199 

*a 

173 
518 

a 

659 
416 
318 

174 
774 

156 


713 

291 

980 

200 


741 

261 

732 

2*9 

714 

469 

195 

451 

177 

518 

<29 

664 

420 

315 

176 

767 

160 


*6S£ S«ft 

426 412 


674 

318 


Revel Dutch E 4313/3242 51/64 
RTX S29 519 

Saatchl 775 770 

Boinsflury 360 370 

Hottbm 


103 105% 



Me 

Prev. 


858 

881 


■ 

88 

' ; ■ mbe 

422 

427 

’TTllmr'Ii^K 




540 

543 







nM' 

361 

385 


335 


1 , 

158 


.j. 

196 

196 


13ft 13 19/84 

United Blscwtts 

241 

2*0 


290 


Woufrowlh 

S10 


F.T. 30 Index : tltSAO 


prevlao* : inue 



F.T5UE.TO0 lode* 

13*450 

Pnevlous : 13M7* 



i[ MB— |1 


23900 24000 

Clpohotets 

12198 12*49 

1 L'J. . 11. 

3149 

3115 





Flat 

5670 

sue 



IFl 

i -1.1 

IlCkrmWtfr 



■ -'.1 

l-LJ 

itaJmoblltort 

99750 97500 I 


127700126000 


2810 

t 

NBA 


K ■ - 1 

Olivetti 

t l 

■ f 



m ’ ’ - ■ 

RAS 

1.38000136700 


99350 9945 1 

SIP 

7730 

0671 

SME 

1295 

■ “[1 


5358 

1:1 1 



Stot 

3725 

363? 

’ MIB Comet tadex : tm 


Previous : 1937 



'1 P-te 

Air LI quids 

620 


9 " 

K 1 


1 i Mill 

■ 1 ■ 



844 

■ -/ J 

BIC 

495 


Benoraki • 

1595 

1 


920 

■ ' 1 

BSN-GD 

2590 


Cor retour 

2910 

% . v ’ i 

Orargeurs 

731 

796 

OubMetf 

465 45950 


1870 

B : . • . 

□umez 

910 

wrz 

EK-AoulWne 

.300 

ft ,7 


T040 

^ ^ ■ _ 

Gan Eaux 

BBS 

■ 

HactMtta 

1270 

B . y 


749 

PC— 




LMjtur 

701 

709 

roreal 

2768 

2778 

Mortal 1 


■ v r . 1 


ra 

B * > ■ y 


2520 

E ’ j ■ 

Mtchdln 



MoetHennessy 



f '1 

* \ * - j 

Ocddentale 

702 

|F i§ 

Pernod RJC 

784 

765 


439 

tn 

Peugeot 

479 

474 


412 

■■ J 


392 

By' ‘-j 

Rndouto . 

1939 



E 

1 l-7 A ■ 


700 

■ ’ *• 1 

Skts RosMorwl 

1330 • 



S8» 

•. ■ 


no 

] 

Total 

270 

365 

CAC Indgx : 25X46 
Previous-: Sin 




Cold Storage 
DBS 


Malayan Banking 

OCBC 

OUB 

OUE 

snangrMa 
Mine Darby 
Spare Land 
SboroPrem 
5 Steamship 
St Trading 
UOB 

United Overseas 


241 241 

4J0 4J5 

3J0 X20 

142 148 

U 6 148 
440 440 
7.10 740 

240 244 

U3 L92 
149 141 

149 14* 

UO UB 
540 540 

041 042 

109 244 

342 3 

1.17 L18 


Previous : 40SJ1 


AGA 

Aha Laval 


Astra 

AttoaCopcs 
Bottom 
Electro tux 
Erteeeen 
_ it* 


in us 

263 241 

350 355 

see 5io 
MS 193 
IB ■ 17S 

in ‘ns 

732 231 


Ph ar ma c i a 

SoatvSamlo 

Sandvik 

Skenska 

SfcF 

SwadtstiMatdi 

Volvo 


234 233 

190 193 

305 510 

NjQ. 7TB 

no. in 

290 239 

228 239 


ANaor 


1 


AC I 
ANZ 
BHP 
Barol 


238 271 

448 440 


Bouga Wtvtrie 
Cnstl*fHalrt*| 


Coles 
ComafcD 
CRA 
CSR 
Duntoc 
Elders Ixl 
I Cl Australia 
Magellan 
WM 
Myer 

Nat Aust Bank. 
Hens Cora 
N Broken HIU 
Po s ei do n 
OW Cod Trust . 
Sonfas 

Thomas Nation . 


Western Mining 
Dnknr 


westpac Banki 

WoodstoeM 


XII 117 
. 142 142 

4 8 

445 4.19 
142 144 

U9 UB 
249 341 

53a 227 

383 346 
2.15 114 

X10 2 

242 223 
NA. UB 

AJ 9. 

■222 2.18 
245 243 
148 141 

UB 544 
245 244 

.3.13 332 


M0 132 
A4 ft-dfrimim tetter ; M65# .* 




Asdi] Chemimi 
Asom Gkm 
Bank et Tokyo 
Bridgestone 

Canon 
Casio 
Cl tan ... 

Dai HtoPenPHnr 
Dohoa House •• 
Dalwa OeaKftle* 



Fun Photo 
FutTt 


Wnttsu 1 
Hitachi 
Httodii 


1 

— 1220 

Jonan Air Unas sen 

Kollmo 480 

Konsal P ow er mo 

Kawasaki Steel US 

Kirin B r e w ery 72S 

Komateo Sm 

Kubota 346 

Kyocera. 4Sso 

Matsu Etoc lads mo 

Matsu Etoc Works Ms 

Mitsubishi Bonk 1470 

Mitsubishi own 538 

Mitsubishi Bee 
Mitsubishi Heavy 

Mitsubishi Carp 

Mitsui and Co 
Mftsukashl 

si F^ • i3?s 

N^tgdotor, tag 

Nippon Kaooku »S0 

Ntoomon . 781 

N ip pon Sled iss 

Nippon Yusan 234 

Nissan 475 

Nomura Sec io*a 

Olympus looa 

SST" 

ycen inn 

5hhnazu 87S 

Shlnetmi Chamtool & 

Sumitomo Bank 
.Sumitomo Chem 
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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, DECEMBER 21-22, 1985 


Page 23 


SPORTS 


."•v 


ti jal Now Is Home-Field Advantage 



Michael Janofsky 

Tart Tuna Service 

^ \V YORK — The mo&l in> 
I residual of winning contis- 
' besides mailing the playoffs. 


- .'■‘-''i or more playoff games. 
w -i the feffll wedbmd of the 


. tre the only team assured of 
| . at home m two playoff 
, they win tne first, 

-m' o Soper Bowl XX in New 
s. The Los Angeles Raiders 
1 s the same advantage in the 
an Conference with, a vie- 
. looday night over the Los 
s Rams. If the Raiders lose, 

would most Kkdy 

■ ^ > ibe Miaou Dolphins, who 
^N^nly the Buffalo Bills to de- 
^ - _-g‘.rfaim the AFC East 

- £:> nsoty review of this season 

- r sh 15 games and the previous 

' ‘ ; sons shows why playing at 
j . -nhances a team's amhty to 

os season, home teams have 
jined winning record of 137- 
- - k record, 140-83-1, set in 
* -jnB Bkety be broken. 

- te combined home record of 
/" v . this season that have 
. - ed or are still in contention 

• ' ‘ 10 playoff spots is 77-21 (78 

The 15 teams that have 
.Kiwma ied from contention 
'^Niwe a winning home xoooib, 
V53 percent). 

, ~^s :-dcc 1970. in 110 playoff 
"JT : leading to the Super Bowl, 
team has wen 75 times 
Y ~ roent). 

1973 through last Mon- 
rfrt, home teams have won at 
1 58 percent during the regu- 
son. 

■**^~-ne-fidd advantages can take 
. added dimwirion for the 

' 1 ** hat plays in regionally severe 

— conditions. The Bars, for 

.... te, may be more accustomed 

i . TT^ Vnrtig in cold weather; last 
^ in the NFC championship 
lost to the 49ers in 

. San Francisco, 23-0. 

following games will be 
i Jus week in the NFL (odds 
v (an Harrah’s Reno Race & 
L A Book): 

| mM Ninterconference 
iH !§ A^*« Raidas (11-4) at 
\j«fes Rams (11-4): Even 
IBT . i Both teams have clinched 

- ^Sviskm, this game has some 
5 overtones, not least of 

is that the respective owners, 

& Frontiere of the Rams and 

avis of the Raiders, loathe 
' iher. That’s why the teams, 
‘.are situated less than 30 
‘ 50 laJometers) apart, do not 
fejKtJhe Th* Imihc 

Jf^ffeaHkoin that their strengths 
.p v same; each has a good de- 
m 4 md runs the ball wdL On 
. * *i -otmis, the Raiders' are bet- 

^ - 1 they have the best record in 

* pie on Monday nights, 23-3- 
ders by 1) 

^btajh Steekra (7-80 a* New 
,-Saatt (SMi): Giants’ fans de- 

^ medal That they could still 

ne of the Giants' playoff 
.... — “S — seven erf die eight sce- 
. 'put them in— indicates pain 
.Tamg no one should have to 
. A victory means they’re in. 
. . t loss, combined with vie- 
iy the 49ers and Redskins, 
ban out Can they beat the 
. fl Suru The Giants are a 
(team, just as they were the 
. .4 - yarn last week against the 
-ys, who won 28-21. (New 

; -y«) 

_ ..;emcan conference 

^;.er Broncos (10-5) at Seattle 
^Jks (8-7): With an outside 
be a wildcard, the Bron- 
e to win in die Kingdoms, 
bey have done just once in 
four years. They nipped the 
ks in their earlier game ibis 


season, 13- 1 0, in overtime, and tbqr 
could have just as much trouble 
this time. A Seahawk victory guar- 
antees die Jets a wildcard.' John 
Sway, the Denver quarterback; 
has been intercepted eight times in 
the last two games. The problem is 
that the Broncos have been unable 
to ran, and Seattle is a difficult 
team to run against. (Denver by 1) 

Cleveland Browns (8-7) at New 
York Jets (10-5): The Browns are 
one of the best rushing teams in the 
league. But that doesn’t bother the 
Jets, who held Walter Payton to 53 
yards on 28 carries. What bothers 
the Jets are the Jets. They are in a 

NFL PREVIEW 

slightly worse predicament than 
the Giants. Of the 16 scenarios be- 
fore them, 14 will get them in the 
playoffs. But they are up against a 
team that is also fighting to make 
the playoffs, and the Browns have 
won four of their last five, with 
increasingly better play from Ber- 
nie Kosar, their rookie quarter- 
back. (New York by 7) 

Buffalo Bills (2-13) at MuuA 
Dolphins (11-4): The Dolphins 
have the league’s longest active 
winning streak, six games, and have 
lost CO the Bills just once in their 
last eight meetings. In the earlier 
game this season, it was 23-14 Mi- 
ami, with Dan Marino completing 
22 of 31 passes for 233 yards. The 
Bills have lost three more since 
then, giving up 97 points, which 
would seem to indicate they won’t 
be much of a problem for die Dol- 
phins, who need a victory to win 
the divirioiL (Miami by 19V4) 

Onrinnafi Benges (7-8) at New 
Fnghtad Patriots (10-5): Only a 
three-way tie with Cleveland and 

the playoffs. The Patriots ?ave al- 
most an equal chance to mate it 
whether they win or lose, depend- 
ing upon other combinations. His- 
tory favors the Patriots, who have 
won the last three games going 
back to 19 78, and defense would 
seem to favor them a g ain The Pa- 
triots are responsible far two of 
Marino’s foor lowest yardage 
games this season and held him to 
192 yards Monday night Now, if 
they can just hold onto the ball. 
Three interceptions thrown by 
Tony Eason and a fumble by Tony 
Collins cost them dearly an Mon- 
day. (New England by 5) 


Stenerud to Quit 
After 19 Years 
As NFL Kicker 

The Associated Pros 

EDEN PRAIRIE, Minneso- 
ta — Jan Stenerud, the Minne- 
sota Vikings’ player whose ca- 
reer as a kicker has been the 
Longest and most prolific in Na- 
tional Football League history, 
has announced that he wiD re- 
tire after the 1985 season. 

“When you get older, you’re 
not going to be as good as you 
are at 25 and that's a fact,” 
Stenerud said Thursday. “The 
odds of coming hack and hav- 
ing great years just isn't there." 

At 43, Stenenid is the NFL's 
oldest active player. In a 19- 
year career, he has served a re- 
cord 373 Odd goals. 

Stenerud began his pro career 
with Kansas City in 1967 and 
played with the Chiefs 13 sea- 
sons before being released in 
1980. He joined the Green Bay 
Fackera that season and was 
traded to Minnesota before the 
1984 season. 


San] 

sasCfty Chiefs (5-10): A' Charger 
victory, which is probable, could jo 
a long way toward saving Don Oor- 
yefl’s job. Jt would also be the 
Chargers’ fonrth-straight and the 
second over the Chiefs this ««iwn 
The soon of the first game was 31- 
20, with Mark Hermann playing 
for the injured Dan Pouts and 
throwing for 320 yards. Fonts was 
injured again last Sunday, w hich 
stakes Herr mann the Kkety starter. 
(Even) 

Houston OBm (5-10) at Jrih- 
uapofis Colts (4-11): Zauiz . Oh, 
the Colts should win because of a 
better defense. (Indianapolis by 4) 
NATIONAL CONFERENCE 

Washfegtou Redridns (9-6) at St 
Loris Ctatinals (5-10): The Red- 
skins still have a strong chance to 
make the playoffs, hut they have to 
win. They probably wffl. For the 
Cardinals, (his has been a lost sea- 
son for an assortment of reasons, 
and they could cost Jim Haoifan 
his job. The Cardinals are an easy 
mark for strong rushing teams, and 
the Redskins are one of the best. 
That’s an especially helpful circum- 
stance this week because of Jay 
Schroeder’s injured ribs. He is ex- 
pected to start at quarterback but 
he’s still a hit fragile. (Washington 
by 7) 

Daflas Cowboys (10-5) ■* San. 
Ftaodseo 49exs (9-6): The Cow-' 
boys have clinched their division 
but the 49ers, the defending Super 
Bowl champions, are nlnigrng to 
only wildcard possibilities to make 
the playoffs. What happened to 
them this season? Three things, ba- 
sically. The defense took too long 
to develop. The offense has been 
slightly out of synch. And Super 
Bowl champions have a hard time 
maintaining the edge. They have 
plaved better in recent weeks, espe- 
cially their defense, and for that 
reason they should beat the Cow- 
boys. (San Francisco by 9tt) 

Chicago Bean (14-1) at Detroit 
lions (7-8): The Lions’ 6-1 record 
at home this season should have no 
bearing on what happens. The 
Bears are superior in every respect 
and have already won twice this 
season in other indoor stadiums. 
The only pressure on the Bears is to, 
keep Jim McMahon from remjur- 
ing his right shoulder. Last season, 
a lacerated kidney kept him out of 
the playoffs. (Chicago by 7V4) 

(keen Bay Packers (7^8) at Tam- 
pa Bay Buccaneers (2-13): The 
Packers beat the Buccaneers three 
weeks ago, 21-0, in a snowstorm. 
Different conditions are likely in 
the rematch but not a different re- 
sult With a .500 season within 
grasp for theFackers, who have 
played slightlybetter in the second 
half of the season, they have more 
motivation to win. For the Bucca- 
neers, it has been along and miser- 
able season, devoid of any excite- 
ment or even hope for significant 
improvement for next year. (Green 
Bay by 3) 

Phflmfelphia Eagles (6-9) at Min- 
nesota VBring? (7-8): A victory by 
the VDrings would give Bud Chant 
a respectable season for his first 
year back. He has restored hope 
and optimism for the future, and 
with many fine players to work 
with, the Vikings should do much 
better in the next few seasons. The 
Eagles made things interesting 
there far a while but then skidded, 
losing their last four games, indud- 
ing one to the Vikings three weeks 
28-23, after they were leading, 
early in the fourth quarter. 



Wilander, Becker 
Win First Matches, 
Squaring Davis Cup 


The Associated Press 

MUNICH — After Mats Wi- 
lander held off Michael Westphal 
on Friday to give Sweden a 1-0 lead 
over West Germany in the Davis 
Cup tennis final, Boris Becker de- 
feated Stefan Edberg to even the 
five-match series. 

Wilander, 21, dominated the 
opening singles match to win, 6-3, 
6-4, 10-8, in two hours, 24 minutes. 
Becker, the 18-year-old Wimble- 
don champion, beat Edberg in the 
second singles match , 6~ 3, 5-6, 7-5, 
8-6. Edberg recently won the Aus- 
tralian Open. 

In Saturday’s doubles, Wilander 
mil team up with Joakim Nystrom 
against Becker and Andreas 
Maurer. On Sunday, Wilander will 
y Becker, and Edberg will meet 


Joel Gaspoz skiing to victory in Kranjska Gora, Yugoslavia. 

Gaspoz Wins Yugoslavia Giant Slalom 


United P r os International 

KRANJSKA GORA, Yngosla- 
via — Joel Gaspoz. of Switzerland 
woo the second World Cop rid race 
of his career Friday with a victory 
in the men’s giant gi»iowi here. His 
only other victory was four years 
ago. 

Gaspoz, 23, who slumped to the 
40th ranking overall in the World 
Cup last season, edged Robert Er- 

lacher of Italy by less than a fifth of 


a second over two runs on the : 
and icy Podkoren course, 
dropped 370 meters through SI 
gates. 

Hubert Strolz of Austria, runner- 
.up In gemar S ten mark last 

Sunday in a giant slalom at Val 
Radi a, Italy, placed third on Fri- 
day. 

“The course was difficult,’ Ga- 
spoz said. “It was a hard race." 

Marc Girarddli of Luxembourg 


moved into the lead in the overall 
standings by finishing fourth on 
Friday. This was good for 12 
prints; which gave him a total of 
80. Peter MOller, the Swiss down- 
hill specialist, dropped to second 
place overall with 70 prints. 

The icy slope claimed 28 victims 
as racers struggled to make their 
turns on a course covered with a 
mixture erf artificial and natural 
snow frozen rock-solid. 


Wilander, ranked third in the 
world and die winner of this year’s 
French Open, cruised through the 
first two sets, breaking Westphal 's 
serve once in each to take a 24) 
lead. 

Westphal, ranked 51st, came 
haffif in the third set, and Wilander 
had to battle hard for every point 
before winning. 10-8. There are no 
tiebreakers in the Davis Cup. 

Westphal, who produced several 
comeback victories in West Ger- 
many’s Davis Cop earlier this year, 
got the partisan, capacity crowd of 
13,000 roaring in the thud set. 

He faltered in the fifth game by 
squandering five game prints to 
allow Wilander to take a 3-2 lead. 
But Westphal came baric to break 
Wilander in the eighth game and 
level the score at 4-4. 

Thundering 18 aces past Wi- 


lander, Westphal appeared capable 
of extending the match until he 
dropped his serve in the 17th game 
of the thud set. 

Wilander took a 9-8 lead and 
dosed the match by holding his 
own serve in the next game. Wi- 
lander served 12 aces on the fast 
indoor carpet surface. 

Becker’s victory over Edberg 
kept alive West Germany’s hopes 
of winning its fust tide. 

Wilhelm Bungart, West Germa- 
ny’s non-playing team captain, had 
said his country’s hopes of winning 
its first Davis Cup title hinged on 
whether Westphal or Becker could 
upset Wilander. 

“On this very fast surface, we 
ihfnk we have a better chance of 
upsetting Wilander than beating 
Edberg.’' Bungart had said. “1 was 
hoping that the draw would pit 
Becker against Wilander in the first 
tingles, but it didn’t happen." 

Becker survived some tense mo- 
ments in the last set before edging 
the Swede. The match lasted three 
hours and seven minutes. 

Edberg displaced Becker in the 
No. 5 spot on world rankings by 
defeating Wilander in the Austra- 
lian final, and he entered Friday’s 
match as a sligh t favorite over the 
West German. 

Becker led by 5-2 in the final set 
but dropped his service as he was 
serving for the match at 5-3. Ed- 
berg clawed back into the match to 
levd at 5-5 in the final set. But 
Becker then unleashed a series of 
tremendous backhand returns to 
break Edberg in the 14th game and 
take the set and the match. 


Mavericks Triumph Over the Hawks 


SCOREBOARD 


The Associated Press 

ATLANTA — Mart Aguirre re- 
fused to re-enter the game after a 
dispute with Coach Dick Molta, 
bat the Dallas Mavericks stiD held 
off the Atlanta Hawks for a 120- 
108 National Basketball Associa- 
tion victory. 

Aguirre said Motta replaced him 
because he helped Atlanta' s Domi- 
nique Wifldns to his feet in the 
second quarter of the Thursday 
night game. - 

“For me to be snatched ool of 
the game just for picking someone 
up is really disturbing to me and I 
can’tpky under those lands of con- 
ditions," he said. 

Asked about the incident. Motta 
said, “He said he didn't want to 
play any more. I like gays to play. 
I’ve never begged anyone." 


Rolando Blackman scored 31 
points to lead Dallas. The Maver- 
icks took the lead for good when a 
Bl ackman basket gave them a 91- 
90 advantage with 10:41 remain- 

NB A FOCUS 

mg. Dallas then scored 10 more 
points, increasing its lead to 101-90 
on Detlef Schrempf s pair of free 
throws with 7:57 left. 

Sam Perkins added 23 for Dal- 
las. Schrempf had 16, Derek 
Harper 13, Aguirre 12 and EQis 10. 

Wilkins scored 29 points for At- 
lanta. , 

Aguirre, who scored all of his 
points in the first quarter, returned 
to the game with 5:02 left in the 
second period. He was replaced 43. 
seconds later, shortly after be and 


Willdns collided under the Hawks’ 
basket. 

Play continued after the colli- 
sion, but Aguirre went to W ilkins 
to brip Mm stand. W ilkins was un- 
hurt. 

“I ran into Dominique Wilkins 
very hard," Aguirre said. “Domi- 
nique is a friend of mine, and I 
thought 1 had really hurt him be- 
cause I'm a pretty powerful young 

man " 

Motta and Aguirre have dashed 
in previous seasons over Aguirre’s 
style of play, but the coach had 
been landing Aguirre as a top play- 
er tins year. 

“It’s disappointing because I 
realty tried an entirety different ap- 
proach with it this year " Motta 
said. “My only goal ever has been 
for him to attain greatness." ' 


Basketball 


NBA Standings 


EASTERN CONFERENCE 
Atlantic DMNan 


Rookie Leads Br uins Past Whalers 




w 

L Pet 

GB 

Boston 

21 

5 

JOS 

— 

New Jersey 

15 

» 

.556 

6 V 1 

PMladelPWo 

14 

12 

538 

7 

Washington 

13 

12 

520 

7M 

New York 

7 

If 

.269 

14 

Central Dtvfsta 



Milwaukee 

18 

11 

521 

— - 

Detroit 

15 

13 

536 

2ta 

Attcmto 

13 

U 

.Ml 

4 

Cleveland 

12 

U 

A62 

4ta 

Chicago 

18 

30 

.333 

Bta 

Indiana 

7 

IB 

•2B0 

9 

WRSTERN CONFIDENCE 


Midwest 

DMSloa 



Houston 

18 

9 

567 

— 

Denver 

IB 

9 

567 

— 

Utah 

16 

73 

571 

2te 

San Antonio 

15 

U 

556 

3 

Da It as 

13 

12 

-520 

4 

Sacnuneatu 

9 

18 

-333 

* 

Foodie Dtvftan 



LA. Lakers 

22 

3 

580 

— 

Portland 

IS 

14 

517 

9 

Seattle 

11 

17 

J93 

12V. 

1— A. Clippers 

* 

17 

346 

IJta 

Phoenix 

9 

17 

346 

13V? 

Golden State 

ID 

2B 

333 

14VS 


N. Dakota st. tt. Minot St. ST 
Oakland, Mich. 104. Mlcn.-D#ortjorn K 
Ohio SI. U. Dayton 73 
S. Indiana 101. St. Louta 73 
Taylor 82, Eonnom 60 
Wichita St 85. NM OrlNm 4* 

Writfit St. 107, NE Illinois 7* 
SOUTHWEST 

RJco 9a Mary HordJft-Baytor 90 
St Mary** 71. Sw Goorootown 70 
SW Kansas 79, Bartttsvlllo WaMvn 40 
Tulca 63. Oral Roberta 17 

FAR WEST 

Hayward Si. B2. Azuiu Padflc 68 
Montana M MW Hazorone 79. 2DT 
Smi Jaso SL 9*. Santa Clara 55 
Ui. Inti 02. Morgan Si. 70 
Utah 107. Seattle 72 
Washington 74. Brigham Young 68 
TOURNAMENTS 
CartkM Varsity CM Classic 


Ball St. 71 Mbs. volley St. 63 
Third Place 

Detawm St 58. Brooklyn Coll. 37 
Mid-Texas Clastic 

St Moors. Texas 71, Sautnwmiern. Texas 70 
WIBW Holiday Tw j rn am o nl 
Hr* Round 

Ma -Kansas City 79. Paul Quinn 69 
NE Missouri M. e. New Mexico 73 
Boltiony Nazai aw 61 Ouachita Baptist 57 


Adam Falcons (3-12) at New 
Orleans Saints (5-10): There are 
two more of the league's lost souls, 

and both may be searching for new 
coaches after the game, if they 
aren’t already. They are similar in 
that they are weak in aQ respects. 
(New (Means by 6) - 


United Press International 

BOSTON —The star of the Bos- 
ton Bruins’ 2-1 victory Thursday 
night over the Hartford Whalers 
was a 19-year-old rookie who still 
worries about staying in the Na- 
tional Hockey League. 

The rookie is Randy Bunidge, 
who scored the game-winning goal 
and added an assist to lead the 
Bruins to a 2-1 victory over the 
Hartford Whalers. 

Bmridge's third goal of the sea- 
son, at 5:50 of the third period, 
marred a spectacular 45-save per- 
formance by the Whaler goalie, 
Mike Lint 

The left wing, playing in only his 
14th game since bang called up 
from the Ontario Junior ranks, was 
confident after the Bruins had dis- 


patched Hartford for the second 
time this season. 

“1 have to keep working hard 
and hopefully I'll be here a while," 
Bunidge sai d . “Things always seem 

NHL FOCUS 

to work out when you keep work- 
ing at it." 

Barry Pederson finished a neat 
give-and-go with Burridgc at 17:09 
of the second period to give Boston 
a 1-0 lead. 

Burridge got the game-winner on 
an unassisted effort in the third 
period when be intercepted a pass 
at center ice and raced m along the 
side to beat Liut with a 20-foot 
hark hander. 


“Pm not surprised he’s plating 
well," Pederson said of Bumdge’s 
performance. “When he first came 
up be didn’t have his confidence 
und that's half the battle in this 
league." 

The Whalers spoiled a shutout 


Della* » SI 

Attoola IS *4 36 S3— IBB 

Blackman 11-179-11 SL Porfcta 6-11 11-1223; 
WHklno TM4 5-12 39. Jottraon 5-T2 *-4 15. R»- 
hia alr : Dallas 43 (Partlna Ml. Atlanta 43 
(LavtnosttMi. Willis 10). Anita: Dallas 3* 
(Davis 121, Atlanta 25 (Rtvors 10). 
W ush logtoc HUM 29—91 

Chicago is 29 35 ta-n 

Robinson 10-23 M 27. Makmo 6-17 l-l 17; 


Hockey 


NHL Standings 


WALES CONFERENCE 
Patrick Division 


at 13:23 of the third period when 
Sylvain Turgeon scored his 21st 
goal, an a power play. 

“Tonight we didn’t have that 
much of an offense going," said the 
Hartford coach. Jack Evans. “Liut 
kept us in the game with sensation- 
al goaltending. Our guys have 
played ax games in eight nights 
and they’re not machines.” 

Liut made 35 saves through the 
first two periods. 


Dal lev W-l* 11-13 31. WoaindDe 531 56 15. 


w 

L 

T Pts 1 

SF GA 

Itabouita: Washing ion 57 (Watdnson 17). Chi- 

PMlwtalpMo 

34 

9 

0 

41 

153 

103 

cago 46 | Woolridgef). Assists: Washington 19 

Washington 

19 

7 

4 

42 

117 

90 

(Robinson 4), Chicago 17 (Corzlne 4). 

NY islanders 

12 

10 

8 

32 

116 

115 

Cleveland » 21 28 as— 1B9 

Plttsbandi 

14 

15 

4 

32 

127 

119 

New York SB as 27 **— 1B5 

NY Rangers 

14 

17 

1 

29 

113 

109 

Turpin I3-1S36 29. FraeB-21 12-1231; Ewing 

New Jersey 

13 

17 

1 

27 

116 

ISO 

11-20 6-7 28, Orr 10-17 3-2 22. Reboeeds: Cleve- 
land 5B (Tuiwln 14), New York 49 (Ewlnp 15). 

Quebec 

Adams Dhristee 

78 17 2 

38 

727 

HO 

Assists: Cleveland IB (Free 7). New York 26 

Montreal 

16 

12 

4 

16 

141 

120 

(Sparrow ■). 

Boston 

15 

10 

S 

36 

117 

106 

Porttand 22 H SS 25-UB 

Buffalo 

15 

15 

2 

32 

1IB 

111 

Donver 22 24 43 SS— 121 

Hartford 

15 

14 

1 

31 

120 

119 


English 15-29 14-15 44, Nott 5-16 9-11 19. Coo- 
per 7-11 M 19; Vondnmgh* B-17 64 22. 
Droxler 5-12 M is. RebooMK Porttand 72 
(Bowie T2J. Denver 54 (Lever 9>. Assists: 
Portland IB (DrexlarB), Denver 24 (Lever 10). 

25 24 31 26—196 


Nonce 9-18 12-15 3a Sanders 8-12 5-7 21; 
Theus 9-1$ M 3A Johnson 9-18 56 23. Re- 
bonds: Sacramento 51 (Johnson 9), Phoenix 
44 (Nance, Robey 61- Astafs: Sacrament o 29 
(Theus 91, Phoenix 25 (Humphries 10). 


CAMPBELL CONFERENCE 
Norris Division 

». Louis 14 12 4 32 112 116 

Chicago 11 15 « 26 125 143 

Minnesota 9 15 7 25 127 125 

Toronto 8 18 3 21 118 139 

Detroit 7 1* 4 18 98 156 

Smythe Division 


ok at the Floundering Red Wings: r The Worst Team Money Can Buy 9 


Nett Turk Times Service 

IOIT — The Detroit Red Wings, floundering 
on despite die hiring of several expensive free 
ast summer, are giving credence to the cliche 
my a troth is told in jest." 

.ed Wings have become the objects of derision 
! in just about every National Hockey League. 
Wn by niAnamps nidi ac “The Dead Things." 
High Boys” and as “The Worst Team Money 
y." The Detroit Free Press recently ran a 
urging fans to rend in their best Red Wing 

tot going to celebrate Christinas this year” 
my Devdlano, the Red Wings’ general man- 
uring to be Hke Scrooge. Tm too annoyed.” 

s & reasons. After 30 games, the Wings haw 
record, tied with the Los Angeles Kings for 
at points (18) in the 21-team league. The 
. aklast in theNanis division, regarded as the 
in the NHL 

t opened the season by tying its first game 
g the next eighL After a brief recoveiy — a 7- 
- of mediocrity — the Red Wings lost their 
James. 

't know how good we are, but we’re not this 


'I don’t know how good we are, 
but we’re not this bad. 9 

— Coach Barry Neats 


of ilu Vancouver Canucks, whose famous 

minor is being severely tested in his first year 

« Detroit bench. “We have a dikmma ofi our 
nr per for mance has been inconsistent with 
most moderate expectations.” 

*roii owner, Mike Ditch, also owns a chain of 
tors called Little Caesars (hence the mck- 
ugh Boys). 

litch said the Wings had beat "humiliated" 
’'-game, first-round sweep by Chicago in the 
«p playoffs last spring, he replaced Coach 
ano and almost half the roster, recruiting 
vm pro and college teams and one from 
tnrope. With the exception of Petr Klima, 
aed from Czechoslovakia, the results have 
□pointing. 

ias 12 goals and 12 assists for 24 points and 
h Reed Larson for the team scoring lead, 
who wiD turn 21 Monday, has a scoring 
ive- average skating ability and flashy stidc- 
skills that often draw a reaction from the 
e also attracts attention from opponents. 



21 II M 29—97 
Mohom 9-10 6-4 32. VJefciMon 9-16 » 20; 
McOonW 13-23 3-3 29, Slkma 1M024 28.RO- 
PoaocK: Detroit 36 (Lodmboer 8). Saatttt 49 
(Slkma 1 )}. Anita: Detroit 22 (Thomat 13), 
Seattle 23 (Henderson 7). 


Edmonton 

Calgary 
Vancouver 
Winn i peg 
Los Aneolot 
New Jartar 
PMIadOlpMa 


23 6 

17 II 
10 19 
10 20 
8 19 


50 175 130 
37 136 108 
24 121 143 
34 119 160 
20 105 155 
2 1 0-3 
0 1 4-6 


signed, for SI million over four years. Last month, the 
Red Wings sent him to the American Hockey League __ 
dub in Glens Falls, New York, after he had scored one College Results 
goal and one assist in 17 games. 0 

Ray Staszak, the right wing signed for more titan SI 
million for five years out of the University of IDinois- 
Chicago, had one assist in four NHL games and was 
sent to the minors in October. In November, he 
suffered a broken nose and a concussion and missed 
two weeks. After that, his play improved in the AHL. 

But when the Wings wanted to ret u rn him to the 
Detroit roster last week, they were informed that 
Staszak is now sidelined with a g roin hgury. 

The team is last in the NHL’spenalty-kiliing stand- 
ings and 18th on the power play. Detroit’s goals- 
agams t average, 5-20 per game, is the worn in the 


T7» New Tor* Ttas 


Petr Kflma of the Red Wings daring a practice session in Detroit 


In a 6-3 loss in Minnesota Tuesday night, Klima 
was hashed about by several North Stars, none of 
whom was p«mH7ed. Klima resp on ded with a few 
harsh words (Ire’s learning English) and hurt stares. 

Otho- recent arrivals have accompHshed far less. 

Warren Young, a left wing who scared 40 goals last 
season as a 29-year-old rookie in Pittsburgh, went 
scoreless in the first 16 games. Yonng, who is malting 
almost SI million over the length of a four-year con- 
tract Ire signed as a free agent, and his te amm a t e s 


to pick the dale when Young 
it goal. He now has nine. 


framed a betti 
would score his 

Tbe pool was Young’s idea, proving, perhaps, that 
he hadn’t lost his sense of humor along with his 
scoring touch. The winner of the pool was Mike 
McEwen, the defenseman formerly with the Islanders 
.and the Rangers who had joined the team as a free 
agent from Washington. 

Adam Oates, the all-America center from Rensse- 
laer Polytechnic Institute, the collegiate champions, 


le Wings have lost games by scores erf 10-1. K>-1 
and 10-2. Neale said recently that his team has “a 
bunch of guys who, when they see something like this 
coming, they just get out of the way." 

Devdlano, formerly a top scout with the Islanders 
when they built their four-year Stanley Cup dynasty, 
says he has been hying to make a trade. The player 
most often requested, he said, is Ron Dugnay, the 
former Ranger, who has nrne goals and eight assists. 

As is usually the case in Detroit, the fans have 
remained IqyaL Averse attendance fra home games is 
16,859 in Joe Loms Arena, a modem building on the 
shore erf the Detroit River, tbe border between the 
United Stales and Canada. The franchise, in its 60th 
season, was the home of Gordie Howe for 25 years and 
is a cornerstone of the league. But Detroit's last 
Stanley Cup championship was in 1955. Even under 
the NHL’s generous playoff qualification formula, the 
Wings have appeared in postseason play only three 
rimes in the last 15 years. 

Bui the fans keep shoving American and Canadian 
dollars through the ticket windows. A standing-room- 
only crowd of 19,281 attended a Friday night game 
a gains t Toronto on Nov. 8. Last Saturday night, 
during a 64 loss to Philadelphia, a few of the 17,777 
fans wore paper bags over their heads and a few others 
heckled. 

“Tbefans understand we went from a very old team 
to a voy young team,” Devdlano said, “we’ve had 
some good wins at home. Urey see it could be a pretty 
interesting hockey chib.” 


EAST 

Bowdeftt 7a Lowronca 61 
Si. Frond*. Pa 70S. Morcytiurst 81 
SL Michaels TO, Harvard U 
SI. Thomas Aauinoo 75. Dominican 78 
Seton Hall si, Dowling 45 
Trenton st. 74 Romano 60 
SOUTH 

Athens St 74 N. Alabama 68 
Btr. -Southern 64. Jacksonville SL 62 
E- Kentucky 7R Wilmington Ohio 60 
Eekerd la Chicago 56 
Kentucky st. 7a Bettarmlne 67 
McNeae St. 64. NW Louhfano 61 
N. Carolina St. 77. Wake Farad 64 
NW Missouri 83. St. Leo 71 
South Al cpa m o 6L Cent Florida 56 
Stetson 79, Dartmouth 53 
Tampa 99. Ccdorvllle 72 

MIDWEST 
Chadran st. 67. National la 
Concordia, Moor. 71, Moorthoad st. 40 
OoPaul 7a N orth w es t e rn a 
Detroit 6a N. Michigan 48 
Huron 78, Northern St. 75 
Marion 9a Adrian 76 
Mkm^DuMti 184. Northland 40 


P/opp 2 (24), Z»m< 2 (7). Smith (5). Poulin 
(13); Gosne 15). mcnob (11). Adams 112). 
Shots oa goal; New Jersey (on Jensnnl JO* 
3—21; Philadelphia (on Rosch) I4-1M7— 43. 
Montreal 3 8 I 8—4 

Qaafiec 9 > I 1—8 

AJIratnv IB), sauve (6), Cote (4). Goulet 
(24).G4IIISlB); Nllon 14). RoBlnson 3(B). Shots 
an goal: Montreal (on Ganelin) 1 1 0 4 4 32; 
OueOee (on Penney) *-15-3-1—75. 

Hartford 9 I I— I 

Boston 0 1 1—2 

Pederson (13). Burridge 13); Turgeon (211. 
Shots oe goal: Hartford Ion R login) 7-6-11— 
24; Boston (on Uut) 19-17-11—47. 
Pittsburgh 12 11—4 

Minnesota D 1 2 0—3 

Bullard 2 (17), Cu nn eyetorth (5). Frawlev 
13); Maruk (SI. Ckxarglll (9). Gratian 110). 
Shots 00 goal; pittsourgn (on Casey) 13-144- 
1—34; Minnesota (on Melache) 4-1541-0— 4a 


Transition 


BASEBALL 


Skiing 


WOrid Cop (Moot Strtom 
(at Kruoitai Gora. YueoNoiria) 

1. Joel Gaspoz (SwHzl 2:1088 

J. Robert Ertacher t Italy) 2:170)5 
1 Hubert strolz (Austria) 2:1742 
4. Marc Girards tU (Luxembourg) 2:17.72 
5L Oswald Totsdi (Italy) 3:1742 
a Christian Gofttet (France) 2:17.94 
7. Ingemar Stenmerfc (Sweden) 2:1105 
a Bo Ion Krlzni (Yugoslavia) 2:lttt 

9. Hens Em (Austria) 2:1092 

10. Max Juian (Swtti) 2:1939 

It, Mom Tenaazl (indy) 2:tVJ5 
12. ROtatd Plotter (Austria) 2:1951 

IX 1 vano Camozzl (ltaly)2:19A 

14. Peter Roth (W^ermanr) 2:19.54 
la Hem Pleren (Swltzj 2:19.55 
76. Tiger Show I USA) 2:19.73 

Overall World Cap standings 
L GtrordelU. B0 points 

2. P et e r MOller. Switzerland 70 

X Peter Wtasberoer. Austria 65 

A (He) Krtzal 0M Karl Aiptoer, Serttz. 55 

6. driacher, 53 

7. Strata. 48 

8. Stamart, 44 

9. ( tie) Jonae Nilaan, Swed. and Poiravib 37 


CALIFORNIA— 1 Announced that Gooff 
Zohn and Ken Forsta pitchers, will not be 
offered new coalrocis. Reached 0 three-year 
aoreemenl wMi tne Palm Springs Anaeta 
Mtioeai L80BBB 

CINCINNATI— Traded Jav Tibbs. Andy 
McGaHlean, and John Stuper. pitchers, and 

Denn Bltardetia cottaer, te the Mantreol Ex- 
pos tar Bin Gulltaaan, Pitcher, and Sal Bu- 
tira catcher. 

PITTSBUR GH — W a rned Denote Rogers 
manager and Dan WD Horn pdetthw coadi at 
Natan of the Eastern League. Announced - 
that Tammy Sanot will return as monoger of 
Howoll of the PocHtc Const Leogue. 
BASKETBALL 

Nettoeol Basketball Astadafloo 
The Association lined Dorrvi Dawkins of 
the New Jersey Nets S3JM) and Steve Blipaiio- 
vich et me inaone Poors STM for naming 
duringa gome Saturday nlgnt Pined Mltaeot 
Rev Rktardeon of New Jersey S5M end Roy 

Hhsn of the Cleveland Cavottera S2SQ for 
other incMetHs, 

FOOTBALL 

National Football League 
MINNESOTA — Anneweed the retirement 

at Jon Stenerud, ptatJdcker, effective at the 

end of the 1985 season. 

HOCKEY 

hoIIumiI Hockey League 
N.Y. RANGERS— Traded Mike Rogers, 
center, 10 the Edmonton Oilers tar Lorry Mef- 
nyk.<Mensetnan. and Todd SI ruoby. left wing. 
SKIING 

The International Ski Poderatlen rated that 
Derate and Malaomta Tfaika of Poland son 
c ompet e ter Fra nce os soon no they become 
French citizens. 


( 




1 






Page 24 


INTERNATIONAL HERALD TRIBUNE. SATURDAY-SUNDAY, DECEMBER 21-22, 1985 


POSTCARD 

Cutting Out the 'Clippies 9 

By Marcus HUason 

The Assodeud Press 

T ONDON — In the continuing attempt to drag Britain into line with 
■*“' the rest of Europe, London plans on getting rid of its bus conductors. 

And why not, the outsider may ask. Britain learned to live without an 
stnpire, survived the demi se of the shilling and die £1 note, and has 
started to adapt to liters and kilograms. Surely there is life after OPOs, as 
One- Person-Operated buses are 
known. 

But in a society instinctively sus- 
picious of change, the demise of the 
bus conductor is not gang unchal- 
lenged. The uniformed “clippies," 
so nicknamed from the days when 
tickets were dipped, have long 
been a Fixture on their red double- 
decker juggernauts and their job 
can extend wefl beyond collecting 
fares. They often hdp the elderly 
and disabled cm and off the bus, 
find a seat fora pregnant woman or 
wake a snoozing passenger when 
it’s time to get off. In other words, 
conductors add a human touch u> a 
streamlined, computerized, corpo- 
rate Britain. 

“I suppose you could say we're 
losing a bit of tradition, but unfor- 
tunately tradition doesn’t pay the 
bills," said Roland Qausen-Thue, 
spokesman for London Regional 
Transport’s bus division. The 
transport system wants to halve its 
annual operating costs of £190 mil- 
lion ($270 million) over the next 
three years. 

Opponents of OPOs say they will 
end up costing the taxpayer more. 

Duncan Milligan, spokesman for 
Capital a group waging the battle 
against one-operator buses with 
catchy full-page newspaper ads, 
noted that an Oxford University 
poll said passengers were 5-1 in 
favor of conductors. 

Among the arguments against 
the OPO: Journeys are up to 15 
percent slower because the driver 
cannot drive while collecting fares; 
it makes travel harder for the elder- 
ly and disabled; and the money 
saved by doing away with conduc- 
tors is canceled out by unemploy- 
ment payments. 

On conductor buses, passengers 
board on a capacious rear plat- 
form. On OPOs they file one by one 
through an automatic door. On 
conductor buses travelers wait for 
die clippie to collect fares, which 
vary according to distance traveled. 

On OPOs they pay the driver, if a 
passenger doesn't have the exact 
fare, he keeps the others waiting. 

Qausen-Thue said that conduc- 
tors would be retrained as drivers 



flu Asncrttod Pnu 

“Clippie” KD Peppinck. 

or for other tasks , and that nobody 
would be fired. 

Milligan, when it was pointed 
out that other European countries 
manage fine with OPOs, agreed but 
attributed the fact to the wide- 
spread use of uniform fares, season 
tickets and the honor system. 

*T don't know whether Europe- 
ans are more honest than us Brit- 
ish," he said, but when the honor 
system was tested on a London 
commuter train route, “there were 
so many bowler-hatted, pinstripe- 
suited gentlemen dodging fares 
that it didn't work.” 

Qausen-Thue said 65 percent of 
London buses were already OPOs, 
with the fleet's 4,900 remaining 
conductors serving busy routes in 
the city center. AH will eventually 
be phased out, he said, depending 
on how soon season tickets can be 
widely introduced. 


The Mexican Pastorela: Menotti It’s Not 


By Dan Williams 

LtvArtgtltt Times Service 

M EXICO CITY —Four angels from on 
high strummed guitars and sang of a 
miracle, then offered their musical services 
for baptisms, weddings and other parties. 

Two shepherds, one a machete-wielding 
fanner with a hot temper and the other a 
feathered Aztec who carried an American 
Express card, decided the angels were in a 
marijuana stupor. 

The shepherds were in Mexico City to 
complain about a corrupt mayor who had 
stolen their papaya crop. And the mayor, 
whose tins induced the embankment of 
earthquake relief funds and the sale of psy- 
chedelic gelatin, sent three demons to waylay 
the shepherds. 

These are some of the dements this year in 
a traditional Mexican spectacle, th&pastonda, 
a Nativity play gone slightly mad It is that 
time of year again, and at ieast maepastordta 
can be seen around Mexico Gty, marking a 
revival of what had been a tradition in de- 
cline. 

The pastorela gets its name from the Span- 
ish word for shepherd, which hints at the 
basic plot line; the shepherds’ journey to 
Bethlehem to see the newborn Jesus. On the 
way, as the pastorela has it, the devil tries to 
tempt the shepherds from their pilgrimagR. 
Inevitably, the devil is thwarted by the i 
GabrieL 


; Arch- 


fitirin this framework, almost any thing 
goes. Variations on the theme often reflect 
people’s preoccupations of the moment, or 
jnst the popular love of a pratfall and an off- 
color joke. 

Hymns, processions and mariachi ballads 
are interspersed with comic scales of drunk- 
enness, seduction, gluttony and other vices. 
Political satire frequently crops up. “Amahl 
and the Nigjit Visitors” it is not. 

“The pastorela is a pretext to use images of 
heaven and heO to make a comment on the 
earthly kingdom,” said German Dehesa, who 
wrote the script for the pastorela about the 
corrupt mayor. In Debes&'s pastorela, titled 
"And the Ship Doesn't Sail On,” the Mexican 
government is the batt of most of the jokes. 
Ihe mayor is a member of the ruling Institu- 
tional Revolutionary Party. He owns huge 
mansions, collects Picasso printings and 
hoards commemorative World Cup s 
corns, all at the expense of his town, 
de las Pitas. 

In the end, when forced to give it all back, 
the mayor cries out, “Yon can’t do that.” His 
assistant, who has reformed, counters, “Yes, 
we can — at least in pastoreku." 

Dehesa, a television comedy writer and 
university professor, believes that his pastor- 
da, with us heavy political overtones, has 
“rescued" the spirit of the pastorela. 

“This is the tradition,” he said, “taking a 
religious act and turning h into an attack on 
the government” 

The pastorela was used by the Spanish 


soccer 

Juan 


as a device to convert Merican Indians 
istiarnty; the nativity play was a meth- 
od Of gr plnming reK gtn ns texts. But f mpr i v- 
vised, rowdy variations took hold m the Mex- 
ican imagination. Some scholars regard the 
pastorela as a form ctf revenge on the Spanish 
for imposing thrir religion and authority on 
Merico. In tune, the ever more hawdy/wstor- 
da was expelled from the church into the 
street 

This year the Mexican government seems 
to have recognized the power of the pastorela: 
It has put on one of its own, winch has a 
minimum of political jokes and is heavy on 
patriotism. 

The government production, called the 
“Pastorda of Brotherhood,” is billed as a 
thank-you to volunteers and foreign govem- 


These Nativity plays with a 
twist feature hymns, 
processions and mariachi 
ballads, interspersed with 
comic scenes of 
drunkenness, seduction, 
gluttony and other vices. 


meets that helped in the relief effort after the 
earthquakes in September in Mexico City. 

In the government partordiz, the shepherds 
are traveling to Bethkhem to seek relief from 
the horrors of the earthquake. They are inter- 
rupted by such diabolical diversions as a 
SOCCer gama , an amorous mermsnA and a 
fairy godmother promising riches. In every 
instance, Gabriel appears to set the shep- 
herds back an course. 

The only political references in this version 
deal with the dedhring value of Mexico’s 
currency and charges by the devil that Gabri- 
el is a spy for Henry A. Kissinger. 

“This was a pastorela meant to encourage 
unity,” said Eduardo Rossy, a spokesman for 
the production. “If we brought out a lot of 
politics, then we couldn't have reached our 
goaL" 

Other versions around the city are 
with topical material. Among them is pi 
the most famous pastorda, at Tepotzotlan, on 
the outskirts of the capital. Set m the court- 
yard of a 1 6th-centtrry church and convent, it 
has been put on, with variations, for more 
than 20 years. 

“We try to keep thepawonda as traditional 
as we can,” said Alejandro Saldivar, who 
plays Gabtid in this year’s production. “That 
means politics, jokes, puns and other things 
you might not associate with Christmas.” 

The Tepotzotlan pastorda features two 


bands, live animals as gifts borne by the 
shephenia, fireworks, a horse, a burro and 
denis who disguise themselves as barem girls, 
market vendors and rich matrons. 

Tepotzotian’s pastorda also takes a swipe 
at the government Toward the end, bitter 
companions of the chief demon complain 

with^lLvil from the PRI, the ruling party 

The pastorela fell into disfavor in the first 
half of this centuiy. The reasons were com- 
plex. The Mexican revolution of 1910 was in 
part anti-C&tholic, if not anti-religious, and 

this damp ened en thusiasm for th/tpCatOrda. 

For several decades after the revofutioo, in- 
digenous celebrations were in favor, anything 
reminiscent of the colonial period, including 
the pastorda, was scorned. 

The government’s sensitivity to criticism 
also tends to serve as a damper. Theatrical 
productions are subject to censorship, though 
Dehesa neglected to submit bis script to the 
authorities. 

The pastorda is just one aspect of a wide 
range of public Christmas activities that liven 
up the season beyond bright lights and other 
decorations. In tenement neighborhoods, the 
government pays fospinatas that are hung up 
for childre n to smash, releasing a shower of 
candy. Roving processions of candle-holding 
carolers go from door to door in many neigh- 
borhoods. The carding is called the posada 
because the wandering singers invoke the 
search for lodging by Mary and Joseph This 
year in Mexico City, The posada has taken on 
added meaning, since many of the partici- 
pants are homeless as a result of the earth- 
quakes. 

Although less commercialized than in the 
United States, Christmas in Mexico City has 
its material aspects. Wodcas collect annual 
bonuses that fuel the usual buying s p ree. 
Other workers, seeking to supplement their 
annual bonuses, viat offices they service and 
drop off Christmas cards — in return, they 
hope, for money. 

Christmas is also the peak season for snug- 
gling goods into Mexico from the United 
States. Contraband, mfayuca, is the target of 
a con tinuing government crackdown, which 
has never succeeded in stopping the How of 


The Mexico City neighborhood of Tepito 
is a particular haven for the trade in fayuca. 
Well-publicized raids in the neighborhood 
have done little to dampen the business. 
Along the sidewalks, one can buy anything 
from foreign dewing gum to stereos, all at 
cut-rate prices. 

Not long ago, a trade bearing what was 
described as half a minion dollars worth of 
contraband goods was detained by officers of 
the federal police on its way into Tepito. It 
was something of an embarrassment, for the 
shipment was being escorted by other federal 
.pohoGmen. 

As one onlooker commented, it might 
make a plot for a pastorela next year. 


PEOPLE 


Ms. Women of the Year t 


The comedian LSy Tomlin, who 
makes “ordinary women into 
stare.” and Patti Davis, who has 
retained her own identity "despite 
the pressures of bang a president’s 
daughter,” axe among 12 women 
named 1985 Women of the Year by 
Ms. magazine editors for “creating 
new standards of excellence in their 
work and their lives.” The others 
are: MadnMe Klim, an AIDS re- 
searcher; Catmdhratnm Joy PScns 
of Los Angeles; Lynettc Wood- 
ward, the first female Harlem 
Globetrotter; Qatar Brody, a ger- 
ontologist; a Chicago urban renew- 
al activist. Gate Guootta; Mae 
Ghee CssJiio, an American Indian 
“who. spoke her mind ax a White 
House ceremony”; Samba Gilbert 
and Susan Gubar, co-authors of the 
“Norton Anthology of literature 
by Women”; Police Chief Penny 

Harrington of Portland, Oregon; 

and the pwmdrat of Motown Pro- 
ductions, Suzanne de Passe. 

□ 

Margaret Thatcher has made 
such an impression as Britain’s first 
woman prime miniirtftr that even 
mental patients who don’t know 
who or where they arc know who 
she is, three doctors reported Fri- 
day in the British Medical Journal. 
Drs. Ian Deary, Simon Wessefy and 
Michael Find reported in “De- 
mentia and Mrs. Thatcher” that, on 
questionnaires given to 114 pa- 
tients at two London hospitals in 
three periods since 1961, Queen 
Efizabetfa n was recalled more fre- 

r atiy than Prime Ministers Har- 
MactnWan and Harold Wilson 
but Thatcher was more easily re- 
membered than the queen. 

□ 

The rock anger Steven Van 
Zandt has given $50,000 from his 
“Sun City” royalties to Curette 
Scott King in Atlanta, to aid Sooth 
African political prisoners. “little 
Steven” Van Zandt, die former gui- 
tarist for Brace Spring ste en’s E 
Street Band, {nit together the anti- 
apartheid record and video with 
rode, jazz and soul artists protest- 

in^South Africa’s Sim Gtyreso^ 

. . . Foreign Minister Mochtar 
Kusunaatmadja of Indonesia has 
promised to arrange for payment or 
proceeds from pirated music cas- 
settes to the organizers of last July’s 
Live Aid concert to aid starving 
people in Africa. Justice Minister 
Ismail Saleh said earlier this week 


that the government could no t act 
against the cassette makers because 
Indonesia was not a monbte* of the 
international copyright conven- 
tion, but Mochtar said an Indone- 
sian record company had cheated 
buyers by saying the proceeds 
would be donated to famine vic- 
tims. The international bank- 

ers’ “Bond Aid” campaign for the 
Save the Children Fund has raised 
more than J530.000 for relief work 
in Africa, a fund spokesman said in 
London. . The truth is out: 
Princess Anne, president of the 
Save the Children Fund, tolfk 
American reporters in London, *i 
don’t actually like children." Buf, 
she added, “Children ought to have 
as good astart as possible from the 
health and education point of 
view," Something else she doesn’t 
like is the proliferation of famine 
aid agencies in Africa; “I get de- 
pressed by the sheer weight of num- 
bers of agencies in Sudan. They are 
treading on each other’s toes.” 

□ 

A television film about Mao Ze- 
dong's return to his hometown after 
a 32-year absence will be shown in 
China on Dec. 26, the 92d anniver- 
sary of his birth, officials in Beijing 
said Friday. No other major activi- 
ties' were planned for the birth da* 
the Communist Party Propaganda 
Department sakL A China Central 
Television spokesman said the 50- 
minute film, “Returning Home," 
depicted Mao's 1959 trip to his 
native village of Shaoshan in Hu- 
nan province. He spent two days 
with relatives and friends, visited 
the graves of his parents and remi- 
nisced about his childhood in the 
rice-growing region of southern 
China, where he was one of four 
sons of a well-off peasant fanner. 

□ 

About 250,000 Bostonians ordi- 
narily celebrate July 4 on the banks 
of the Charles River listening to the 
Boston Pops play the “1812 Over- 
ture" to a firework accompani- 
ment. And the fans are not pleased 
that the orchestra is coasidenng& 
invitation to play at the unveiling 
of the refurbished Statue of Liberty 
instead. “1 think they should stay 
here at home," WHEam Ror, direc- 
tor of marketing for the Sberaton- 
Boston Hotel “After all, they are 
the Boston Pops.” The Pops, whose 
annual Independence Day concert 
dates bade to 1929, would resched- 
ule its Boston appearance to July 5. 


•'ii 

•JP. 




.. ■a 


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AU30HOUGS ANONYMOUS 

Enjj^Pwis ldo*y) 4634 5966. Ron* 


PARS PSYCHOTHERAPY, Bbw Cross 
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DOMNCAN DIVORCES. Box 30602, 

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SUN. N.Y. TIMS - Eurortf deWy. 
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PERSONALS 


HAVC A raa DAY1 BOKSL How 
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MOVING 


ALLIED 

VAN LINES INTI. 

OVER 1300 OfflGES 

wonnwBE 

USA Aflred Vcmi Umx Inn Carp 
(0101) 312-081-8100 

O call our Agpncy European offices 

PARIS H«ifcnwlw l iiteuu t k 

(1) 43 43 23 64 

HiANKFURT J Sotf? 

(0691 230066 

DUSSELDORF/ RATINGS! 

(02102) 45023 I AILS. 

MUNICH LML5. 

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LONDON 

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BRUSSHS: e^sa 

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OONTiNEX. Smofl & medwei mown, 

baggage, con wwfdwida. GA Char- 
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REAL ESTATE 
SERVICES 


HOUSBITTMG Dec-Jam. E*Wnro 
Guards officer Box B5, NOW Onto? . 

REAL ESTATE 
FOR SALE 


CYPRUS 


OWN YOUR OWN HOME in the 

town & location of vw choice. Wide 
selection of vrfla & u pjb ne nh. in- 

spection Barts avertable. GJJ. lordrn 
& Sans LfcC P.O. ,%•« 1175. Limassol. 
Cyprus. Teh 77977, Telex 5136. 


FRENCH PROVINCES 


CAP FBUtAT 

m a braxdrfj'aid 'seSjdsd'parb with 
healed nmrnuig pool, pod house, 
c u retafeen lodge, garage ond drive- 
way. HrtMy recommended by 
JOWi TAYIOR S-A. 

I avenue Albert ler 

F 06230 SAINT JEAN CAP ffiSAT 
Teh (93) 01 24 34 


nn 

Companions 

uu 

DAKS 


;D0N 


Exclusive DAKS 
clothes and 
accessories for 
men and women 
available from 
DAKS stockists 
around the world. 


REAL ESTATE 
FOR SALE 



RARE OPPORTUNttY. Exnptkmrt 4 
bedroom corner apartment m Games 
Gtifornie. Sold by the owner. Superb 
customaed fernture optionoL Price 
F(L400,000- Tet 93 63 40 11 /93 63 
99 65 after 7 pm 



PARIS A SUBURBS 


SWITZERLAND 

B- v J , , li r * fM. r : w 

K-,^1 p r ( . > 

REAL ESTATE 

TO RE3MT/SHARE 

AUSTRIA 


GREAT BRITAIN 



HOLLAND 



USA 


Brand New 

THE KIMBERLY 

145 E. 50th 
New York 10022 

A Unique 

Hotel Suite 
Residence 


INTERNATIONAL CLASSIFIED 


REAL ESTATE 
TO RENT/SHARE 


ITALY 


When in Rome: 

PA1AZZO AL VHABfO 
Luxury aportmert house with furnished 
flan, available For 1 week and mare 

Phone: 6794325. 6793450. 
Write Via del VeUro 16. 
00186 Borne. 


PARIS AREA FURNISHED 


74 CHAMPS-ELYSEES 8fh 

Shnfioj^2ar 3room apartment 


IE CXAUME 43J9.67.97. 


SHOUT TERM STAY. Advanlagn of a 

hotel without moameniancM, feel at 

home in nice atmfca . o ne bedroom 

ond more in Pont SORHJMe 80 ra 

da rUqiwah. Part 7lK 4544 3940 


STUDIO TO 4 BOOMS. Week, north, 

year ram. Luxembourg S> Mont pg r- 

noMO- No ogency fen*. 4325 3 509. 


Off AVE MONTAIGNE. Jan Mtayl. 

2 roatn, 80jwfecor, dean, unaompfc 

cro»d, *«ry UBaxwfr. 42 56 1 0 97 an 


LEFT BANK. fenxdMd 3 roorw, high 

ckajbuddmg. F7UOO. 0*43 296573 


EMPLOYMENT 


EXECUTIVES AVAILABLE 


CANADIAN, late 30\ broad ban <6 

busmen, BfiaxmL. systems & comput- 
er experience (17 yean) in mm n- 
dhnlnex, resporofch. reuurc^ul, re- 
®*s oriented, eiBT experience, w el 

traveled, watied & Kved abroad, is 

leaking far an interesting 

WSng to relocate 
avoiwote in ecxly 19 

tv. write 505-1450 

Dr, Vancouver, B.C Canada V6J 
Of phonts 604-7364443 or leave mes- 
snge 604-762-4429. 


LADY 38, BBC NATIONAL, muMEn- 

gual, ixmeniiy background. PR expo- 
ne«». uoeDent orgamr, irtemo- 

tonai oriented, top s e aewrifll dak 

seek* po rt ion at roseonh anistaet/ 
proof reader la ed lor iaywrtart 

nyuHaio so lop raagv of own- 
tort artnue/arr deortr or general 
PJL Write Boot 3002, Herald Tribune. 
92521 NetJy Cedex, France. 


yean old, wel tr ave led & eduerted 
Cornier US government justice agent 
with legd badtQround looting for 

seamy in 


m nil 


Have wotfeed execu- 


CA 91360 USA or tefc B05493-I628L 


pre-opening savings on 
6 mo., 1 yr. & 2 yr. leases 

fertunng 

Studio, 1-Bedroom & 
2-Bedroom Suites 
All magnificently 
furnished and all with 
luxuriously appointed 
kitchens & marble baths. 

Executive Services Available 

Model Suites 

(212) 371-8866 


MKHAMCAL ENGWSt Dytdi 06 - 
wn, 15 yeert experience in laainte- 
nain producten industries welo new 
chtdrtnge. Boor 3023, Herald Tribune, 
92521 Reixfly Cedax, Franae 


general positions 
AVAILABLE 


POLO OUB REQUIRE Irttnaiond 
sft xid unl pob player from 1 Feb 1986 
for entire 1986 Polo season. Services 
ndude the sehooing & tranng of 
prto penes & appbarts <*3 be re- 
to compete n toumpnarts. 

to hove o« 

, negotiable, hi 

or agmarime & toumanwi 
to Mb Vacancy, Gertie Jayet 
. 26 Graswner Street London 
Wl, UK by no Inter #ion Jon. 7, 1986 


fffi 


LADY UNCUtST. Frwdi and Engfah, 
for new method. Peris 4557 09 99. 


GENERAL 

POSITIONS WANTED 


HAPPY GRANDMOTHER, YOUNG 

at hear (German/ Engish/hwdi). 
□ good organizer owl crthumlK 
irncfcr when she a oar needed by 

her fanJy, loves rxiraab, art. books, 

(ten, tnuK jpkws Ihe pmo). sports, 
goad cook, can be oabd by pleasant 
people Swig in beautful amawrfngj 
for Ihe core of their teonuOent wfsrt 
they thsB telxai ha« to oe away 
from home for o ndbk Md pe rmd of 
tame. HeoM) write to: Bo* 222B, LHX, 
Friedrich*. 15, WOW frmifwt- 
/Mam 


DEALING WITH EUROffi 
A PROBLEM 

European cormrt. mNmueL 

S work rttiS^/Qn/Au. w*ng 

to wartc had She has orgrxxzatjcnd 
iiuio n ti iMt poahion, he eormnerad 
edurrmoa Bax 3©BL Herald Tribute, 
92571 NeuRy Cede*. Franae 


EMPLOYMENT 


GENERAL 

POSITIONS WANTED 


VETERAN AMERICAN NEWSMAN. 
Wei grounded in 


» foreign correspondent far raj/cx US 

n m w p tteeo strong on geo-paWcicxKf 
Rte irird World. Coandor any looo- 


EMBtOENCY M0K3NE TRAINS) 

physidcsv 34 y ys old , wefl traveled, 
spsob KuEun&EngBdv seels rteieif- 

ing and odverturma opportwMes. 

Contact Pool Bromton, MD_ 2401 

Qirdtmcn Tree Lera, Apt. 75, Bdcen- 
ficHCA 93306 USA. 


24. 

to 

snow more tdtint than |ud to cook 

French CuilirM - to start summer ‘86, 

Farit, i pairibrt. R. Prim, Drttehwg 

21 R TOMStuHoort 75. W, Germany 


ANYIHMG ANYW1BE as long as 

well remunerated. European mofe, 39. 
wdftrferted, ‘ 


FRENCHMAN 30, BILINGUAL wuh 

tome Arabic biowledge, dmng 5- 
cense, seeks private secratary pari- 
Iron, palyvtienr. pre fe rably based in 
Midch bn>, ocfl Faro 42 74 40 75. 


TOP 


I, dynamic. 

WB travel. ScJay. cormnaBon & ex- 
pernes-JHB, Box 1796 N-5011 Bergen 


WHJL EDUCATH) MAIL 31, awi- 
dde a imfvidurt travel guide. Sound 
krtrotedge of 5 ken u anes. Experi- 
enced traveller. Box HbwW ' Tri- 

bune. 92SB1 Neudly Codex. France 


EDUCATIONAL 
POSITIONS WANTED 


LANGUAGE 1 FRB4CH GvrSzahon 

pnAcsMr, very good raferences, of- 
fen tee betf of tendf to errteeded & 
rich ferady. What do you offer hinff 
Jean Brtm, 115 Bd. St Gwnxen, 
75006 Prtis. Tab 43 26 79 79. 


EMPLOYMENT 


EDUCATIONAL 
POSITIONS AVAILABLE 


Univenify of London 


OJA® OF INFORMATION 

SYSTEMS TENABLE AT THE 
LONDON SCHOOL OF ECONOMICS 
AND POLITICAL SCBKX 


The Senate rate ap^cotio ro For the 
above char ham those working in die 
axes of systems analysis, database 
management, computer nodding of 
large systems and atiffdd irteCgenoe 
t expert syrtems. 

AppEcationi (10 cope*) should be sub- 
ratted to die Academic Revtoor PHIL 


Univerrty of London, Mohr Street, Lon- 
dan WOE 7HU, from wham further 
particulars should lint be obtained 

The daring date for 
lions is 24RHh January 1 


DOMESTIC 

POSITIONS AVAILABLE 


GGVBEWS5/HOU58CEPES- Amer- 
iaxi family in lovely sjfaarb of N.Y. 
seeks fernde for core of 2 ktwririe 
chitfren. Cultured home in exdurive 
portSn conxnurxty. Private room 6 
bath & T.V. m our home. Require non- 
smoker with good educational back- 
ground drivers Ecense. Send resume & 
picture to Bax 3006^ Horrid Tribune, 
92521 NetAW Cedex, F»ro 


Ul PAIR- Single father, mult trawl, 

care for home & B year aid boy near 
Kansas City. Private room, car & icki- 
ry. travel & eduortion pomibte. test 
sxolc EngGriu fatow instructions. 
Avodabte now far 1 mr or moro. 

Send photo, lettor & lei J JL demons. 

P.O. Bax 582. Kearney, MO 64060 
USA Tek (8 


P°^ ° 

wnc. 


AU FAIR RHOOE ISLAND near Nevr- 

1 . Own roam m spadous Victorian 

knmedote opening. BigErit 

driver. 2j|rb 

write / sondphcio, rafmncmc Sondy 

Nolan, 28 Marion St, £ Greenwich, 
H 02818 USA 401-884-2207. 


EMPLOYMENT 


DOMESTIC 

POSITIONS AVAILABLE 


AU PAIR- Over 20, to core foe mfort 

boy in NJ. Omi room-mghts & v 
ends free. Return fare cfar 1 


opportunity to 

smoker. Send 
eras to Mrs. 

isn.? nd * E - 


computer. 


AURA* WANTED for 


Mrs. C 
aLMaribaraJ 
9720830. 


Own room. R 
Gordons ' 


AU PABRBronswiefo Mane. Care afl7 

north old chid, second drtd due ki 


eronces James F. HuL E 

80. Brunswick ME 04OTL 


nanny for chUdcaie & 
in kweiy NYC suburb, 15 met 
midhtwn Own roam, TV, both, no 
smoker. Send letter with teL ^.ptw 
& r e ferences to L Benon, 5235 Net 
afandAwe,RiverdBfe. NT 10471. 


pwratmid reforem 

fondy. Wbrkmdud 

ing, driving in Get 
Trikl 30T45566 l 


Hemea Joegprtram 9. D-E 
monnsdor f .Tai: KB9&Z4/17 i 


’64. 


rme* e run 

ism & 1 

SriSS^ 


HOUSBGBFBL Must davp, Bte coutv 


1 sense of humor. Carl 
Tek 64 59 56 1& 


DOMESTIC 
POSITIONS WANTED 


YOUNG FRENOI 
taWr peel/goverm 
"ostan New York erV, 
now. Tek Paris 45 24 


International Business Message Center j 


ATTBmON EXECUTIVES 

Ik A to hyovrb 


ia trie tater w o t i un rt HorM 'fit- 

bmm, Mter*nxn4xnelM 

of a oBm leedes war *#- 
snide, met of wham a* at 

bt u rao ta and huhntrv, wSB 

read A Aar Aelex m (ftmit 

613595} baton 10 us, ea- 

nritiff Mat me can Mix you 

bode, and roar mew ape wff 

S ear mHm 49 h am Tike 
k US. $900 or heal 

oqeMhet per Am. You mutt 

tndoda eemnfete and weriB- 
Mob&eaddnu. 


BUSINESS 

OPPORTUNITIES 


U.S. A. 

UNIQUE OPPORTUNffY 

Eriabfidwd oo o y an y leeks odtfcios d 

! tai to promote revolutionary tedt- 
mad breakthrough in the nut indos- 
fry- Over 300% i n created prodwo- 
Soa. Protected returns reach 52% 
qmuaBy for decades. Fe rttofouffe a h 

w nn ge u Mnt compa n y g u arante ed 

Wnteta 29357»StMT*«m, 
92521 NeuBy Cede*, Francs 


FOR SALE-CANADtAN Mamifadw 

& mxxyter ef men & boys outerwear 

& premium dortiing. Wall srtjbfehed 
company ever 30 years m buonem. 
Soles of S15OTXW ammaBy. Over 
3.000 exce l ert txsourts. 

profit potential. CDN SI, 
vestment reqnriedL Beoraenr young 
m ett a ga u err & aumentej sl ^on ■ 

%g 3L wm- 

4471 Mr, MR. Hods. 


MOUUBL SHONE 
SECURITIES LTD 
Notional Association of Seordy 
Deafen and Investment ■Monoge n 
wishes to hear ham bared u*e«to « 


Tek London (DT) 377. 15® & 362 7661 


2ND PASSPORT 35 countries. GMQ, 
feKhamenou, 10676 AlhentGroeos 


BUSINESS 

OPPORTUNITIES 


US GOVERNMENT UCBtSB) Ind. 

1 Freiylt Fomarden S US Li- 

Trarnporteriwa tel or accept 

Owner in buriness 30 yen 
tires Feb. 86. &nptoyees to 
ranain yrth company. General Amer- 
sre. Inc. 450 Seventh Awt. 


partnef-.i 
Semwetm 
reman wi 
ion Sfaperc. I 
NY,Nti0123. 


swnrzsttAND + abroad. w& 
hme mare Bw 25 mteresring compa- 

niesJfoODrite + t axin g + rehil + 
swnrio^ for tote. Turnover uptoSFSO 
ration. Swai reridstc-/ passbfc. Con- 
tocb ti SBOLD SA, Tour Gib* 6, 
04-1007 Lausame. Tek 21/25 26 )L 


BUUJON DEAIBS - Bufton coins, met- 
fartimi exchange, pubEihen of 
foe Bool Repot Harvey Mdiad Rob, 
RmkI House, 15 St Pa/i Sheet, 
Isiil.EngbndTi' “ 
fews} 


BUSINESS SERVICES 


(NTT 

BEAUTIFUL PEOPLE 

UNUMITBMNC 
UAA. A WORU2WBE 

A comptee persand A burin service 
proviang a unque ccBedion of 

raerted, venade & 

indmbnb for all eocial 


212-765-7793 

212-765-7794 
330 W. S6th SI, N.Y.C 10019 
SteiraT 
Needed 1 


NOSTALGC 
US aodt market i pform a t iun for the 
1 9Sjfe ave fl afak. W eekly stode markets, 
quotation*, yearly — ienij and let* 
more. Each war, only U55TQ. Wnto 
Nmgfeon Adwwy Services fcn Win- 
gert 22, B049 Zurich, Switoriond 


HOW TO GO A 2nd PASSPORT, 

X I - 12 cfiurtrfe* cmeiyzad. Gte- 
WMA, 45 Lyndfenr Teraxe, 
Suita 565, UMtrof, Hong Kong. 


FINANCIAL 

INVESTMENTS 


HAPPY NEW YEAR 

with a visual brainn system for 
rat motet. Only U5S6 Write 
Nreigirion Advisory Service^ In Win- 
gert22, 0049 Zurich, SwHzxdand 


DIAMONDS 


DIAMONDS 

Your best buy. 

rme cficnomh in any priae range 
at lowest wholesale prices 
dred from Antwerp 
center of da Jano uJ wvkL 
FuB goorwtae. 

For free prioe Ed write 

JoatMm Gohrtmtrtn 


EstobfchedT928 
PeQaxniroat 63 B-30I8 Antwerp 
EMgui ■ Tek (32 a 234 07 51 
Tba 71779 *j4 b. At the Dfaneni Qub. 
Heart of An twerp Diamond industry 


DtLADY 

fiattory Mice of fooH cut dltoaande 
Lenge Herertefcesfr 29, Anlwera 
Belgium. Td: 0372327203. tbc 35243 


OFFICE SERVICES 


ZURICH-ZURICH-ZUR1CH 

RAHNHCSPS1RAS83E 52 
YOU! OfflCE AWAY FROM HOME 

• OffioB/MsKGemnt Servfees 

• Con^wny Fomwticxa 

• Haw to do Bu e mei* m/at/ 

FROM SWITZERLAND 

jfehrt Servfcee Ceneult Carp. 
OaliilKi fdmte c 52 Oh8Q22 Zurich. 
Tab 017211 92 CE7. H» B13 062 BSC 



DOMESTIC 
POSITIONS WANTED 

EXPBmcD RHJABLE SWGS nan- 
ny would Be to care for a baby men 
American fomiy fiving in Europe. Ago 
, Zl. Free from January. Languagnt 
UaSai/French/ German/ baric tn- 

- gUv Brunner. PXL Bax 853 CH4830 
Oiiasso 1 - Tet 0039-31-210003. 




1 AUTOMOBILES 


AUTO RENTALS 



-1 AUTO SHIPPING 


HtANKHinr/MAM-W. Germany. K 
bernram GmbH. Teb 069-44*71. 
Bcfr up cM over Europe *ro/n>4lw». 






Mercedes Bum Feredm BS4W Ferrari 

H>A/DOT 

CONVERSIONS 

Fan turnaround time. All work dona 
onjramsm. Soles t, fearing. 
A1PMS EXOTIC MOTOR Out 

114 Anderson Street 
_ Hodmroaek, NJ 07601 USA 

Tin 322234 201-4880667 



DOT/ffA CONVERSIONS 

SHpphig, banding, aurora 

Door to deer service Europe 
to USA, ocesptona! nxroteed. 
Eurogecn Automotive Compfamoe. 
Gam Deyneatweg 126, 

Phe^W^OT245T?^3230EACNL 


DOT/EFA CONVERSIONS to Ui 

SStowbSwS Snodboot 

KaUMS-VlA^Carp, HBSMAir 


AUTO CONVERSION 


We lupp ly waridwidet 
■ complete cwrco'l for cd can 
-spare part* for d makes 

- special units for tropical ctimrtei 

- oho deafen wonted 


AUTOS TAX FREE 


MERCEDES SPECIALISTS 


1985 


for 20 pari. 
Umnmti 


fir 


280 SL 280 58, 5QO 
500 SI, 500 SEC 
19S6 AAadert from Stock: 


300 SB. 900 SL 500 SB, 500 ! 
Shipment & deSvery vwridmde. 


MAMZBIANDSTR. lfl 

D-6000 RANKHKT/M 

TEL: (?) 69-73 80 61 

TUb 414018 


LMLSA 

OFROALROU5 BOYCE 
DEALER FOR BELGIUM 

TAX FREE CARS 
ROUS ROYCE BBfilEY 


SAAB 

Abe Used Gas * 

rue MBXTBJKXKG 74-82 
1T7D Bruuah 
TEfe 2-673 33 92 
TLX; 20377 


TRANSCO 

THE LARGEST SHOWROOM 
AND STOCK M EUROPE 
rang a aentert ttodc at mare than 
300 brand new ars of cd European + 

Trmco SA, 95 Noonrttaa n, 

Tel 3w£l2S55^x 35S?Trae 


AUTOS TAX FREE 

EUROPEAN A USA SPKS. 

Afl mritet for worldwide delvery from 
stock. Send for a TAX-FREE adutog. 

BMW - MBtOEDGS - PORSCHE 
VW - SAAB - VOLVO - PEUGEOT 

hnm Auto Avrtn Inc 
PO8214,3O0ARNeiNngBinHaikaKl 
Teb fO) 3402-41346. The 76068 EAB NL 

RG TEAM 

Offers bsc free cor* , rartia and 
daaks. ai makes. New 4 used 

PO Bax 2050, 4800 CT. BREDA / 
Hdbnd. Tel (Of 76651^0 Tin 74282 

PPPi 



LEGAL SERVICES 


DO YOU WANT A 2ND PASSPORT? 
IMC BCM 6567 London WGN 3XX 

LOW COST FLIGHTS 


HOLIDAYS & TRAVEL 




ROM STOCK 
Merced** 500 SL new, white 
Porsdie 920 S AutanaEc, "85 new 
Mercedes 300 SD, 19KL32» rad 
Toyota Supra. 1984, ZDOO km. white 
ofoer maxes end madeb upon repMst 
Same day regRtratiaa poiribfe. 

(CZKOVTTS 

OcridenstoBM 36, OiB027 Zurich 
Tab 01/202 76 11 Telex, 815915. 


DAWAJI TRADE 

. INTL DELIVERY 

We keep a large stock of 
mar car &andi 
Teb 02/648 55 13 
Tefcx 65658 
42 rue Lens, 

1050 " 


OCEANWOX 
MOTORS GmbH 

lev trader for 



for tourist Old 
GmbH. 

4 Duenektorf, W. 


PORSCHE FROM STOCK 

Bert rorrice, shipping, faeu rtesce , 

ROTE INC 

RAMffUKT 
,8x411559 


EUROPORT TAX 
FRK CARS 


CaB or write for free catelog. 
, , 12011 
Ronenfem. 

Td 

Telex 


8ax 1201 1 

tews -- 

w 25071 EFCAR 


NmWwed. kmnadeto ddhwy. RoAVL 
Tek GentxmyP) 6234-4092 rtm 464986 


HOTELS 


SWITZERLAND 


- GENEVA 

RBHTCNCE K FRANCE - 

4 Avn. de France, 04-1202 Genova 
Teh 0041 72/3\U79 

Beautfod, first dost, air-conditioned, 
residential fa nnhod iraurk irae s 
stwhos. Fidly equipped loti " 
ckdy maid servicn. 

Weekly end monthly irtes. 

Exce l e nt laecticrL •• 


COLLECTORS 


TROBffiDOttS, tnodeBedlncfay. wtfo 

rigrurae. 60an ayshri eyes, leather 
staev aothes <mm du«i .Frtos 
US)600. fetex hn. Nfeuwsmq, Lem- 
mender 32.6441 HL Brumraam, The 

NrthedcA. 


VKXJN STIADCVARRiS, Year 1707. 

Offer to J- Daaeme, U tete Gcaftxi, 
6S10 Modarwafe/ Bmqium 


BOOKS 


BRmSH BOOKSHOP, FRANKFURT 

offers a wide seledian of British / 
American books (abo chricken’lL Brit- 
idi tourist pubScrtio™. Mai order «r- 

‘ any only. Tel 069-280472. 

17, 6000 FranUixt/MI 


EDUCATION 



opartexHt, private span” carter :^>k 
far dstoied brochure from CB'vnO 

14, 50125 


■ PAGE 5" ' 
FOR MORE 
CLAS5IFIED5 


■Mdi whi «d Porwha Care 


CO- IMPORT /EXPORT 

Worid WMto Tax-Frse Cars From Europe 
Frans KDm 

200 Spadkd On in Stack - hmeefiate Defivery. 

Twa Hoar Showroom . Unique In Earapa. 

230 E new modeL Aut A not, 900 5L, 380 SL/c 7350 Sl/C 
450 SL/C, 280 51/ CL 500 Sa,500 SEC 450 SB. bfr, 380 SE/L 
450SE/L 2OT5E/C, Pto^effll^Tara,, ^h»928/S I 
aatornotP930Tw£a,PM4 P924, 190^)90 E, I9DE2J J 
16 vo/v^ 300 Tp Turbo, 200 6 new raodeT,£? 

?ssrT»o3j^^ Mb, ^ ,t ^ bie ^ 5Msc3 ' 5Le,Bbrio ' 

One of the groatesS Mercedes and Porsche on snedoffsts, far 
mporflng European oars in foe UA*. 5p«frt canffifiont for 
fromium ulwre ip American norm, 

St TrnSlentaenwrog 291, HaeealtZefd, Belgkim, Europe. 

Abeet 40 an. treai Btneeb Akpart Zavwtera, 

Tertaa 39.S76 (Blbam): 

I Phone: 01T/27J3.44 - 27J3.91 - 7/MM - 27 . 28 . 32 . J 



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