Skip to main content

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

See other formats


be Global Newspaper 
• Edited in Paris 
Primed Smuli 


INTERNATIONAL 


H in Paris^London, 



Published With Hie New York Times and The Washington Post 



tribune 



— A 00 On. hra«l__liimOD Nomar-JMUKi. 

Auaw - — .-20 5. uy 1700 Ln Omni — 070) Bob 

“***” i r 4l fJi — — *»&t 

S* SCO — 

Gowda CJ1.50 m F* rttort -70 P. 

Cn» U 078 tUT.I T.™ WA-d^.AOOIt 


Ufacmn, 


-asm 


Denari- MOO*. ZT , «. « « Sp^-^HOPw. 

Egn» I7SP. 1 ““ S«fc«_M0Sk. 

WFJW. Uw ’ bau ^“ 4SLf ' Swemfciti.ZMSJV 
f ,( w t MsduB^-.'Kb*. isaua OSSOto 


GtyrMby 15D DM. '**“ 35 Twtar — TX. 60000 

CnaMg^.»P Moca. — oS0Dh. UAE._ — 6 SOW 1 

Gram MODi. N*tata«fc_IL7S R USW. |to>)-JM5 

iron 11} Bab Ngcm I JDK. fcoaimB — HOD. 


PARIS, TUESDAY-WEDNESDAY, DECEMBER 24-25, 1985 


ESTABLISHED 1887 



This Christinas 
On 2 Contments 

Chinese volunteer work- 
er, Liang Shu Ming, 
above, polishes a pew in 
Beijing’s largest Catholic 
^ church, Beitang, which is 
to celebrate Mass for the 
first time in 27 years on 
Tuesday. Colombian sur- 
vivors of the eruption of 
the Nevado del Ruiz vol- 
cano inside a tent, left, 
that has been their home 
' for several weeks. Luz 
Marina Jimenez helps 
one of her children with 
toys donated by organi- 
• zations from abroad. 


fiddle East Talks: The Fragile Prospects 


By Michael Getler 

\ Washington Post Service 

, VASffiNGTON — Two trage- 
one old and one new. hang 
the Middle East these days in 
minds of many moderate Arabs 
'■) would like 10 see the so-called 
ace process” make progress, 
he old tragedy involves the PaJ- 
niajoa — not the Palestine Lib- 

1 NEWS ANALYSIS 

. . Jon Organization and its leader. 
-- ser Arafat, but the three million 
7, «o Palestinian people still seat- 
'd in ghettos and refugee camps 
-Highcnu the Middle East, whose 
may be even more obscured by 
tics today than it has been for 

- past two decades. 

-..he newer tragedy involves the 

- ipect — notyettbe certainty — 
a rare period of opportunity 
arogress. even if only to let ihe 
x process begin without any 
sense of where it will lead, is 

iaway. 

Tuing a recent three-week trip 
ugh Israel Jordan and Egypt, 
t came across most starklv was 


& 


the difference between viewing the 
Palestinian issue from that region 
and seeing it from Washington. 

What one senses is an enormous 
gulf between the image and the 
reality that exists on both sides, to 
the ultimate detriment of the Pales- 
tinian people. 

The Palestinians do not seem to 
know how bad their image is, Iarge- 
because of Mr. Arafat, in the 

nited States and many other 
countries. 

“They are bright, articulate, en- 
ergetic people,” said one experi- 
enced and exasperated American 
diplomat. “How the hell did they 
end up with Yasser Arafat repre- 
senting them around the world?” 

In the United States, the Pales- 
tinian issue has become inextrica- 
bly associated with Mr. Arafat, the 
PLO and the identification most 
Americans make between those 
names and terrorism. This is partic- 
ularly true in the aftermath of the 
hijacking of the Italian cruise ship 
Achille Laura and other recent epi- 
sodes. 

But if there is to be something 
closer to peace in the Middle East 



Yasser Arafat 


than there is today, it is the view of 
moderate Arab leaders such as 
President Hosni Mubarak of Egypt 
and King Hussein of Jordan that 
one way or another, the PLO will 
have to be dealt with. 


“You in America can't under- 
stand, really, what we mean,” Mr. 
Mubarak said. “We mean compre- 
hensive peace. Genuine peace. Not 
just any kind of solution where we 
can say we readied a solution but 
terrorism can continue. 

“That’s why Tm telling you the 
PLO is the sole representative of 
the Palestinians, whether we like it 
or not” 

Mr. Mubarak does not advocate 
inviting Mr. Arafat or his top lieu- 
tenants personally into rniriRl nego- 
tiations. His point is that unless 
Palestinian representation in any 
peace process has some PLO-ap- 
proved links, those representatives 
would have no chance of bringing 
together the various factions that 
already split the movement. 

There are moderate Palestinians 
in the Israeli-occupied West Bank 
and elsewhere who want peace and 
eschew violence and would be more 
acceptable to Washington and Je- 
rusalem as representatives. But 
they have none of the personalpro- 
tection, either from the Israelis or 
(Continued on Page 4, CoL 5) 




ideo Game Creators Slide From Stardom 


By Michael Schrage 

M'adnngum Past Service 

ASH1NGTON— Barely three 
^ i ago this Christmas, Howard 
haw was a superstar. 

£ wisecracking, shaggy-haired 
ar-old was raking in nearly $1 
n a year, was featured in na- 
.'I magazines and was hounded 
uiographs by a devoted cult 
wng of teen-agers, 
ock star? An athlete? A movie 

T of die above. Howard 
haw designed video games. 

„ f that's all over now. Mr. War- 
" 's hair isn’t shaggy, his income 
Jn’t impress a yuppie, and, 
ihar, friends and family, few 
scall who he is. 

-- Warshaw sells real estate 
-He expects to receive his Cali- 
i broker's license within a few 

V 

at happened? 

- Jne of the most dramatic re- 
’s in American business, video 
; proved to be neither a multi- 
i-dollar industry nor a new 
: v nn, but a fad with the eoo- 
: durability of the hula hoop, 
istopher D. Kirby, who once 
video games as a securities 
1 *t for Sanford C Bernstein, 
iat sales amounted to $5 bfr- 
> $6 billion when the market 
_• din 1983. 

~ bought it would decline in 
.ashion,” he said, “but I cer- 


tainly didn't expect it to disappear 
as much as it has.” 

. Now there are virtually no video- 
game companies fra* Mr. Kirby to 
follow. He tracks the semiconduc- 
tor industry instead. 

The “vid kids” whose technical 
talents bad brought them to the 
pinnacle of success in their 20s or 


The money hinged on the design- 
er’s ability to cram a game — the 
graphics, the play, the sound — 
into a few tines of computer code. 
Thai code, burnt into a silicon chip, 
determined how images would ap- 
pear and move across the screen. 

The cartridges containing the 
chips, which cost about $2_50 to 


In one of the most dramatic reversals in the 
history of American business, video games 
proved to be a hid with the economic 
durability of the hnla hoop. 


early 30s saw their dreams, ambi- 
tions and income evaporate when 
the market collapsed last year. 

“We thought u could go on for- 
ever,” said Dennis Koble, 35, for- 
merly of Atari Corp. and the co- 
founder of Imagic Inc., a 
video-game company that saw its 
sales zoom from zero to S7S million 
in a tingle year and now is barely 
able to remain in bittiness. 

It was easy to make the money in 
boom times, according to Mr. Ko- 
ble and other former designers. 
Companies such as Atari and Mat- 
tel Electronics offered talente d in- 
novators tremendous base salaries, 
royalties on sales of game car- 
tridges, stock options and bonuses! 


manufacture in whnrie, were sold ' 
by the video-game companies for 
$30 apiece. Buyers plugged them 
into game consoles attached to 
their television sets and Wasted 
away at space creatures or tipped 
through mazes. 

“Most of the people who had a 
cartridge that was a moderate Jrit 
— say, sates in die several hundred 
thousand range — could make 
$200,000 to $300,000,” Mr. Koble 
said. “Even people who didn’t have . 
a cartridge could make $50,000 to 
$100,000 a year.” 

Mr. Waitimw was a supernova in 
Atari’s star system. When the com- 
ay acquired the rights to Steven 
>’s hit movie “E-T.” in 


1982, it turned to Mr. Warshaw to 
create the video-game version in 
time for the ntritfm«<i 

He designed and programmed 
his vertical of “E.T.” in five weeks. 
Atari reportedly paid Mr. Warshaw 
$200,000 for his efforts and threw 
in an all-expenses-paid vacation in 
Hawaii 

As the industry exploded, games 
were churned out in assembly-fine 
fashion. Quality became far less 
important than quantity and speed. 
Clever and witty games gave way to 
rip-offs, look-alikes and shoddy 
imitatio ns. Many designers cheer- 
fully cranked out second-rate prod- 
ucts because the money was. there, 

“Evoy three months. I’d hand in 
a game, and they'd give me a check 
for $40,000,” recalled one former 
Atari designer. “How could I not 
tike working there?” 

. Games designers became the 
most conspicuous of consumers. 
Some of them bought mnhimfllion- 
rlfJlirr houses .on the beach, Alfa 
Romeos and BMWs; sheltered 
their money in risky tax write-offs; 
lent money to relatives; acquired 
unusually acquisitive friends and 
became regulars at Club Miditer- 
raate. 

“Most of them frittered their 
money away," Mr. Koble said. “A 
lot of us are sadder bat wiser.” 

Between taxes and an excess of 
self-indulgence, most of the detign- 

(Contianed on Pig* 5* CfcL 3) 


Bomb Kills 6 in South Africa 


40Inpxred 

TnBlmtat 


n 


i ch Resort 


By Alan Cowell 

New York Tima Service 

AMANZEMTOTL South Africa 
— At least six persons, three of 
them children, were killed Monday 
when a bomb exploded among 
white Oiristmas shoppers at a 
shopping mall in this beach resort 
south of Durban. 

Officials at Durban's Addington 
hospital said more than 40 whites 
were injured, and 18 of them were 
admitted for treatment or surgery. 

The attack was the third against 
whites in Sooth Africa in eight days 
and seemed to represent an escala- 
tion in the readiness of the gover- 
ment’s foes to offer violent con- 
frontation to the policies of racial 
separation called apartheid. 

In IS months of violent protest 
and repression, only a handful of 
the 1,000 dead have been whites. 

Louis Le Grange, the South Afri- 
can mmw w of law and order, 
blamed the outlawed African Na- 
tional Congress for the lonmg s and 
accused the group °f deliberately 
striking ar what he called “soft,” or 
nommHtaiy, targets. 

There was no immediate re- 
sponse lo the accusation from the 
congress's headquarters in Lusaka, 
Zambia 

If the congress were to take re- 
sponsibility for the explosion, 
western analysts said, it would be 
displaying an unprecedented readi- 
ness to step up its war against 
white-minority rule by attacking 
white civilians. 

The congress is the most promi- 
nent of exiled movements seeking 
the violent overthrow of apartheid 
and has a wide following among 
South Africa’s black majority of 23 
orilHon people. 

Previously, its policy has been to 
attack military and economic tar- 
gets, but it has warned that inno- 
cent bystanders might be killed in 
the process. 

Monday's bomb explosion 
seemed deliberately intended to kill 
white people, since few blacks shop 
in. the mall where it exploded. 

The explosion was the most seri- 
ous of its kind tince a cat; bomb in 
Pretoria, killed Unpeople, many of 
them Black; in early 1983. 

After 16 months of unrest direct- 
ed against tbe Souih African policy 
of apartheid, or racial separation, 
in which only a few of the 1,000 
people killed were whites, at least 
12 whites have been killed in the 
past eight days. 

This is one of the heaviest tallies 
in years and one which is bound to 
provoke calls among whites for 
tough retaliation against the gov- 
ernment's exiled guerrilla foes. 

In Johannesburg on Monday, 
Winnie Mandela, a black activist, 
was freed without bail by a magis- 
trate after her arrest Sunday for 
defying newly revised restrictions 
that forbid her from visiting the 
neighboring black township of 
Soweto. 

Mrs. Mandela, 50, was ordered 
to re-appear before a magistrate at 
Kjugersdarp, near Johannesburg, 
on Jan. 22. 

Mrs. Mandela was later said by 
family friends to have flown to 
Cape Town on her lawyers’ advice 
after returning to Soweto and find- 
ing her home again surrounded by 
security policemen. 

As she left (he main magistrate’s 
court on Monday, Mrs. Mandela 
said she would continue lo defy the 
ban on entering Soweto. That pro- 
vision was included in a relaxation 
of earlier restrictions banishing her 
toa segregated black township out- 

(Continued on Page 5, CoL 1) 



Ambulance workers wheel a woman injured in the bombing into a Durban hospital. 

Nuclear Tests Biggest 5 Latin Debtors 
Protested by To Join on Debt Issue 
400 in China 


INSIDE 

■ The cat is oid of the bag: 

Thailand, where Siamese cals 
were invented, is having to im- 
port them Page 2. 

■ Pnetident Reagan signed a 

farm Nil that is likely to lead to 
record price subsidies for agri- 
cultural products. Page 3. 

■ The United Slates said it 

would continue to observe the 
SALT-2 arms treaty after it ex- 
pires Dec. 31. Page 4. 

■ Some African countries have 

started to report cases of AIDS 
within their borders. Page 5. 

BUSINESS/FINANCE 

■ US. personal income rose 0.6 
percent last month, the biggest 
gain in 7 months, while spend- 
ing jumped 0.9 percent. Page 9. 

■ Japan's cabinet approved an 

economic forecast of 4-percent 
CNF growth in the next fiscal 
year. Page 9. 


To Onr Readers 

Because of the Christmas holi- 
day, die International Herald 
Tribune will not be published 
Wednesday. The paper will re- 
appear Thursday with its regu- 
lar editions. 


A pence France-Pretse 

BEIJING — Hundreds of stu- 
dents from the remote region of 
Xinjiang in western China staged a 
protest here lo demand increased 
autonomy and an end to nuclear 
tests in their region, participants 
said Monday. 

The 400 protesters, wbo are 
members of ethnic minorities and 
are studying at four universities in 
Beijing, marched Sunday around 
Tiananmen Square carrying ban- 
ners that proclaimed their de- 
mands. ... .... 

Although students have held a 
series of demonstrations in Beijing 
recently to protest poor living con- 
ditions, inflation and corruption, 
the protest was believed to be the 
first staged there against China’s 
policy on minorities or on nuclear 
arms. 

After the bouriong protest, the 
students gathered in front of Ihe 
headquarters of the Chinese Com-, 
munist Party, where an official re- 
ceived their petition, demonstra- 
tors said. 

They said they had called for an 
end to nuclear testing in Xinjiang 
and presented seven other de- 
mands, several of them dealing 
with increased autonomy. 

A Foreign Ministry spokesman 
rejected (he demands Monday, say- 
ing the students failed to under- 
stand the situation. 

“In the present international sit- 
uation it is necessary to conduct a 
small number of nuclear tests to 
safeguard China’s security,” he 
said. “This is endorsed and sup- 
ported by the great masses of the 
Chinese people.” 

The students al«n demanded the 
democratic election of officials 
from ethnic minorities to replace 
Han Chinese officials assigned by 
Beijing, on end to coercive family 
p lanning among minorities, in- 
creased opportunities for ethnic 
education in the region and more 
opportunities to study abroad. 

They, said that only 20 people 
from Xinjiang were sent to study 
abroad tins year, compared with an 
estimated 20,000 from the rest of 
thecounby. 

Thor list of demands also in- 
cluded economic sett-determina- 
tion and an end to the practice of 
sending convicted criminals to Xin- 
jiang. 

The students said (bey had been 
st irre d to action by recent demon- 
strations in Unmaqi, the capital of 
Xinjiang, where they said 4,000 to 
10,000 students protested nodear 
testing and other issues two weeks 
ago. 

Since those protests, students in 
Beijing said, they have not received 
mail from their friends in Urumql 

China has carried out 30 nuclear 
tests in the desert region since it 
exploded its first atom bomb (here 
in 1964. The last atmospheric test 
was conducted in October 1980, 
and tests have since been under- 
ground. 

Xinjiang is home to 13 J million 
people, including 46 mostly Mos- 
lem minority groups whose lan- 

thatof Chi- 
na’s Han majority. 

Prhnift l ft h ri tHl E in Xinjiang occa- 
sionaUy have escalated into open 
violence, notably in 1981, when the 
kfifingafaUighurbyaHan youth 
Hnnwl disturbances. 

The Beijing students said that 
police and university authorities so 
far had not taken action against the 
protesters, who faded to heed an 
appeal Sunday by college adminis- 
trators to return to then- ca mp uses. 


By Alan Riding 

New York Tuna Service 

MONTEVIDEO — Latin Amer- 
ica’s five largest debtor nations will 
act for the first time as a Woe in 
lobbying with other nations and 
banks to persuade them to accept 
the region's latest “emergency” 
debt proposals, financi al experts 
attending a conference here last 
week said. 

The decision by the five — Bra- 
zil Mexico, Argentina. Venezuela 
and Colombia — was one of the 
key results of the meeting, held 
Dec. 16 and Dec. 17 by the 11 
regional debtors that comprise the 
socalled Cartagena Group. 

Experts said lost week that, while 
falling short of creation of a debt- 
ors’ dub or cartel a coordinated 
strategy by five countries with total 
debts of about $300 billion inevita- 
bly would pose a new challenge to 
creditors. 

In a final declaration last Tues- 
day that also included calls for low- 
er interest rates and new credits to 
stimulate growth in the region, the 
Cartagena Group named the five 
countries to a committee to moni- 
tor progress on its new proposals. 

But Uruguay's foreign minister, 
Enrique Iglesias, who is secretary 
to the Cartagena Group, said the 
ministerial committee also would 
seek meetings with Western gov- 
ernments, banks and multilateral 
financial institutions, such as the 
International Monetary Fund. 


“It was agreed that they would 
represent Cartagena at all' levels.” 
Mr. Iglesias said. “They will iry to 
make the Declaration or Montevi- 
deo the point of reference for all 
negotiations.” 

No less important, with the five 
governments required to suggest 
“alternative measures” if they 
make no progress in the coining 
months, the Cartagena Group na- 
tions also warned that they might 
be obliged by circumstances to lim- 
it interest payments unilaterally. 

“For tbe first time,” Mr. Iglesias 
said, “we spelled out that we may 
be exposed to unmanageable exter- 
nal shocks that force us into actions 
that no one wants. If there is a 
dramatic drop in a raw-material 
price — look at oil or tin today — 
or a sharp rise in interest rales, 
current adjustment conditions will 
become unviable.” 

Financial experts who were al- 
lowed to participate in the private 
conference said that much time was 
spent debating what language 
should be used in its final declara- 
tion, with more conciliatory voices 
eventually persuading others to 
drop several critical points includ- 
ed in a draft version. 

Among these was the idea of 
calling for a 3-percentage-point re- 
duction in interest rates on the re- 
gion's debt rather than a reduction 
to “historical levels,” as finally 
adopted. 


Soviet Leaders Divided 
On Policy, Envoys Say 


By Philip Taubman 

Sew York Tima Service 

MOSCOW — Western diplo- 
mats say there are indications of 
divisions in the Soviet leadership 
on foreign and domestic policies. 

The signs suggest, they say, that 
Mikhail S. Gorbachev’s power as 
Soviet leader, while steadily grow- 
ing, is not absolute. 

The diplomats, representing sev- 
eral Western nations, say they have 
arrived at similar conclusions inde- 
pendently, but they caution that 
tbe evidence is fragmentary and 
subject to differing interpretations. 

Soviet policy debates are rarely 
made public. High officials aware 
of policy differences seldom dis- 
cuss them openly, and views attrib- 
uted to Politburo members are of- 
ten speculative. Western diplomats 
assess trends by studying speeches 
and other open information. 

The diplomats said recent devel- 
opments suggested that policy to- 
ward the United States and Mr. 
Gorbachev’s handling of tbe slug- 
gish economy had provoked debate 
within the leadership, forcing him 
to compromise on some issues. 

They said the influence of Mr. 
Gorbachev’s top lieutenant, Yegor 
K. Ligpcbev, was growing and that 
he seemed to favor a more conser- 
vative approach to economic 

chang e 

None of this, tbe diplomats said, 
indicates that Mr. Gorbachev’s po- 
sition is in jeopardy. Since becom- 
ing party general secretary in 
March, he has moved mare swiftly 
than his predecessors to install al- 
lies in the Politburo and in other 
party and government posts. 

HLs main rival Grigori V. Roma- 
nov, resigned in July from his posi- 
tions in the leadership, while a Gor- 

bachev ally, Eduard A. 
Shevardnadze, replaced Andrei A. 
Gromyko as foreign minister. In 
September, Nikolai I. Ryzhkov, an- 



Mikhail S. Gorbachev 


other Gorbachev associate, was 
named prime minister. 

Many ministers and regional 
party leaders have been dismissed, 
and Mr. Gorbachev has dominated 
the news with his campaign against 
drinking, his economic initiatives 
and foreign travel including his 
meeting with President Ronald 
Reagan in Geneva last month. 

But the diplomats, whose view’ is 
shared by analysts in Washington, 
London and other capitals, said 
that Mr. Gorbachev did not dictate 
policy alone and must contend with 
differing opinions, 

“This is not a one-man show,” a 
diplomat said. 

nie diplomats ponied to several 
recent developments: 

•A lukewarm response by the 
mihtaiy establishment to the Gene- 
va meeting. They said timu o 

1 F. Akhromeyev, 


.1 _ B — “ nuv. Z. 

Sov^ or i^ 


(Continued oo Page 4, Col 3) 


i 

i 

i 


s 

i 

t 

[ 


I 

t 


t 

L 

.( 

? 

3 

l. 

i 

H 


* 

C 

I 

n 

s 

1 


i 

c 


3 

a 

■> 

a 

i 

it 

n 

r 

ii 
c 
i 
0 




( 



i 


r 




* 

■a 





1 








W 




Page 2 


INTERNATIONAL HERALD TMBUWE, 1XIESDAY-VTEDWESDAY, DECEMBER 24-25, 1985 



No More Pussyfooting for Thai Cat Lover world BR 1EI 


He Wants Group to Judge Siamese Pedigrees, Seeks End to Imports for Breeding F^y£SmokerI^ses(^mU£. 


Il« AModond FVcx 


Anosorn Supmanu and Pm Fai, a Siamese cat 


By Barbara Crossette 

New York Tones Service 

BANGKOK — There was a cat show in. 
Bangkok — a novelty here where pets rarely 
promenade in public— and during the proceed- 
ings some baa news slipped out 

Thailand, the former kingdom of Siam, is 
importing Siamese cats. 

“Six hundred years ago, there were 17 breeds 
of Siamese cat, according to the cat table they 
keep in the national museum," said Anosorn 
Supmanu as a 6-month-old sample named Pin 
Fai skipped across his desk and bit the tele- 
phone. 

“Now 13 of there are extinct, and all around 
the world the four remaining breeds — real 
point, blue, copper and white — are not being 
kepi pure.” 

The rich colors of true Siamese cats have 
paled or muddied in the West, he said. 

Mr. Anusom, a senator in the Thai National 
Assembly and a founder of the Siamese Cat 
Association, owns more than 20 cats in all four 
surviving Siamese breeds. 


SANTA BARBARA, California (UPl) R-J. Reynolds Tobacco Co.- " 
In 1871. Siam's King ChuJalongfcom sent ^j^ef^^tothofaBanwhoBiioW three packsofogarenaa 


m a case 


Importing cats for breeding is one of the — - - - . ollv . 

things Mr. Anusom would like to end. He thinks saneseal^tSam^&H^aSOT^anre ^ for more than 50 a jury ruled Momiay 

it should be up to Sam to decide what a Siamese to advertise his tagdom -Mother tatcb was ^ vcniict am* on the second day of tebberaBcns . 

cat is, and he is working to register the Siamese dispatched to monitored closely bv the S60-billioc tobaow industry, winch has w 

Cat Association in Thmland and abroad as an They have been hits m the West ever since. had to pay liabffity damages to smoker The 12-pa^jmjmchufej 
arbiter of pedigree. Meanwhile. Thailand grew indifferent. Al- only one smoker, deliberated less than nine hours before deciding, 9-3, 

Elegant, fine-featured and slender, the native shoowom cats can be found in almost against the family of John Galbraith, who died at age 69 after smoking 

cats have a regal history, Mr. Anusom said, temple, felines are not mystical or three packs of RJ. Reynolds cigarettes a day for more than haHac^ta^ 

noting: “In the old days they were keptjn T. ^ ^ jhaj people. Left to their own The jury requested Friday a re-reading of testim ony b y u r. wqy 

devices, the noble Siamese cats took to moving Fisher. Mr. Galbraith’s attending physraan, 
in with Western tabbies, producing a lot of conuadictoiyonacmd^i^. At<^^Uw te«jfirft^lin^anar 
unacceptable variations. had contributed to Mr. Galbraith’s death and at another that it had w* 

Mr. Anusom has a list of good reasons for 
owning a finely bred Siamese cat. They show 
happiness when you come home, he said, they 
teach themsdves tonse a sandbox and they have 


palaces. Cats were for the higher classes. The 
common people had dogs.” 

The breeds remained pure for perhaps hun- 
dreds of years, Mr. Anusom said. 

However, he added, Siam’s Siamese cat popu- 
lation was decimated in a series of invasions by 
the Burmese; culminating in the 18 th-century 
sacking of the ancient capital of Ayutthaya. 
When the Thai people fled — ultimately to bufld 
their new capital, KnmgThep, which foreigners 
call Bangkok — “everyone ran to save bis life, 
and they couldn't save the cats," Mr. Anusom 


Tamil Separatist Survives Bomb Blast 

NEW DELHI (Reuters) — Ail. Bala sin ga m . an official with a Sri 


alwertory of meows for various occasions. Lankan separatist group, escaped unhurt wfcn a b ranb eaptoded Mod- 
They -nIw catch mire and lizards. day at his home in Madras in southern India, toe Hess i n 


day; 

said. 


frost of India 


As a final insult, one of the Siamese breeds, 
the copper-oolored cat, became known around 
the world as Burmese. “There are Burmese cats, 
too,” he noted. “But not this one." 


They also catch 

Mr. Anusom is encouraging members of the p B iasj T , pa m. the spokesman for the Liberation Tigers of Tamil 

Siamese Cat Association to begin breeding cats ^ theblast blew a hole in his bedroom roof, the news agency 

* ► ^ He bUuncd agents of the Sri Lankan government and the Israeli 


for export 

“I remember when. 1 went to England to 


study," he said. “Nobody knew about Tha 
hut everyone had heard of Siamese cats.” 


China’s Record Decline in Harvestfor 1985 ha Political Setback for Deng 


secret service. ... _ _ _ . 

Mr Balasingam, who belongs to a coalition of Tamils fighting for a 
separate homeland in northern Sri L ank a, was deported to Britain in 
August. He was allowed to return to India to take pan in Indian - 
sponsored talks between the separatists and the Sri L ankan government 


By John F. Bums 

New York Tuna Service 
BEIJING — China said last 
week that this year's grain harvest 
was likely to be about S3 million 

tons lower than the record crop of 
407 million tons last year. 

It was the largest one-year drop 
since the Communist takeover in 
1949. But there is no food shortage. 
Granaries across the country have 
surpluses from last year. 

The immediate significance at 
the reduced crop is likely to be 


political not economic. It is the 
first major setback that Deng Xiao- 
ping’s government has encountered 

m its agricultural policies since it 
scrapped Mao's rural communes 
and reverted to family fanning sev- 
en years ago. The subsequent leap 
in output, particularly of grain, 
provided the impetus for the 


change that Mr. Deng now 
has introduced in the cities. 


Visiting 
New York City? 

Gtamercy 
Park Hotel 


Distinguished 500 room 
hotel with excellent 
Restaurant, 'Cocktail Lounge. 
Room Service and Piano Bar. 
Overlooking Gramercy Park 
with newly decorated, 
comfortable rooms. 
Singles $85-95 
Doubles $90-100 
Suites $115-175 

Group rates and attractive 
monthly rates available. 

Call Gen. Mgr. Tom O'Brien 
(212)475-4320 
Telex 668-755 
Cable GRAMPARK 
21st St. and Lexington Aw. 
New -fork, NY, USA 10010 


In the report that confirmed the 
poor harvest, the Chinese sews 
agency Xinhua said it whs partly a 
result of severe weather. This was a 
reference to disastrous summer 
floods in the northeastern prov- 
inces of Liaoning, Jilin and Hei- 
longjiang that reduced crops by an 
estimated 10 millio n to 12 mini on 
tons, and to drought that affected 
the provinces of Hubei. Hunan and 
Sichuan. 

Sichuan, normally the largest 
grain -producing province, ac- 
counts for more than 10 percent of 
the harvest 

But the political significanc e of 
the drop lay in a secondary factor 
died by the news agency, a reduc- 
tion of nearly 12 milli on acres 
(neatly 5 nriffion hectares) in the 
area sown to grain. This was a re- 
sult of government policies allow- 
ing peasants to switch from grain- 
growing to more lucrative craps. 


ingly on demand to dictate the pat- 
tern of activity. 

Apart from peasants who have 
switched to growing cotton and 
other crops, about 50 million have 
cut bade or abandoned farming to 
go into the fastest-growing sector 
of the economy, rural industry. 
This is a loose term covering a 
range of activities from small truck 
operations to workshops that pro- 
cess agricultural products. 

At its simplest it can cover a 
peasant who buys a bicyde and 
pedals his neighbors’ produce to 
market Many such en trepr en eu rs 
are earning two and three times the 
average peasant wage of about 
S122 a year. 

Mr. Deng has cited the diversifi- 
cation as evidence of the new vigor 
in the rural economy, which has 
grown at an overall rate of more 
than double the annual average of 4 
percent achieved under Mao. 

Daring Mao's Great Leap For- 
ward, from 1958 to I960, in which 
he tried to speed economic {growth 
by rapid industrialization m the 
countryside, grain production fell 
by 57 milli on tons in two years, to a 
low of 143 millio n tons in 1960. 

Three months ago, powerful 
Communist Party figures, uneasy 
with Mr. Deng’s policies, served 
notice that grain production could 
become a major political issue. A 






Chen Yun, a Commu- 
nist Party conservative, 
has opposed Deng Xiao- 
ping’s policy of family 
farming'. Cmna’s grain- 
growing areas, which 
suffered from severe 
weather in 1985, are un- 
derfilled on map. 



France to Pay Damages to Greenpeace: 


PARIS (Renters) — France has 
agreed to pay damages to the 
Greenpeace environmental organi- 
zation for the sinking of its protest 
ship Rainbow Warrior, spokesmen 
for the French government and 
Greenpeace said Monday. 


Under Mao, the nation’s rural national party conference that had 
population, now numbering more been hilled as an occasion for af- 


than 800 million, was marshalled 
into collectives and told what to 
grow. Under Mr. Deng, the govern- 
ment has allotted separate plots to 
rural dwellers and relied tncreas- 


finmng the Deng line ended with a 
bitter warning about the conse- 
quences of falling grain output 
from Chen Yun. the party’s high- 
est-ranking conservative. 


Mr. Chen, 80, said the laissez- 
faire approach favored by Mr. 
Deng had resulted in peasants quit- 
ting grain-growing in large num- 
bers for the higher earnings avail- 
able in n onfarm pursuits. 

He reminded the conference of 
the party's overriding responsibil- 
ity to see that the country's one 


billion people are adequately fed, 
and quoted an old Chinese proverb 
about grain shortages provoking 
social disorder. 


er rift within the party i 
dimntis 


over Mr. 

Deng’s taste for diminishin g the 
government role in the economy. In 
this, too, Mr. Chen has been a ma- 

^^taffordto.underesti- 

mate this matter," he said. detenJpii&Qn" is tanta- 

jhe Henwnfk for a tighter rein mount to surrendering control of 
on the peasants are part of a broad- the economy. 


The French government, again 
acknowledging responsibility fra 
the sabotage of the ship in Auck- 
land harbor in July and the death 
of a Greenpeace crewman, agreed 
to open negotiations to settle the 
amount of c ompen sation owed, the 
spokesmen said. 

David McTaggart, chairman of 
Greenpeace, said that if no settle- 
ment was reached within 90 days 
either party could submit the dis- 
pute to an international board 
made up of three independent arbi- 
trators. Fiance already has agreed 



David McTaggart 


to pay an undisclosed amount of 
to the family of Fer- 
Fereira, the cre wman who 
was killed. 



THE ARAB BANKERS ASSOCIATION, LONDON 

is pleased to uoomice its Hard Conference, 

"ARAB SHIPPING INDUSTRIES AND BANKING” 

to be held *1 the 

Sheraton Hold, Kuwait, 26 to 28, January, 1966 

in collaboration with 

The International Centre for SSiippiagand Shipping Fi nanc e, 

The City University Business School, London 

sponsored by 

THE CHAMBER OF COMMERCE AND INDUSTRY, Kuwait 
HLE A. Alsagar, President of the Conference 

SUNDAY, 26tb JANUARY, 1986 


08.00j.ro.: REGISTRATION 

09.00a.RL: Official opening. Welcome address, HJE A. Ahepr, flwtJaB; Chamber tf Cemnsewc Sthdaetry, Kuwait, Mr. B. ZwnKal ri, Chairman, 
Arab Bankers Associations , London. ImrodoctioM Profeeeor CTh-Cv —ro — oo , Director, baemada n al Centm for Shipping & Shipping 
Finance. Cty University Badn e ss School. 

10.00 b. ro™ Cofloe Break 

10.30 ldu MORNING SESSION, Shipping Markets & Seaborne Trade, H.K A. Akapr, Chmrmmmi ftw M wi Qitmibcr of foemotu & Industry, 
Kuunu. Speakers 

10.35 a-m.: Mr. AX- Al-Hamad, Chairman, Arab Fund i 
Arab EronPlfliiT Development: A Critical Look 

1 1.00 tun.: DrTR-M. 9u»piord,fti«tof. British Shi p fmild er j, London, U.K., 

11 -25 a.m.: Mr- A-H. Salatt, Chief Executive, United Arab . 

A.L. Al-Hamad, Dr. R.M. Stoplord, Mr. A.H. i 
Clarkson & Co. London 

01.00 p.m.: L uncheo n 

04.00 pjn.: AFTERNOON SESSION, Mr. A. Al Taawnar, Chairman, Governor, Central Bade of Kuwait, Spralnr rs 
04.05 p.m.: Mr. A. Al-Badr, Chairman & Managing Director, KOTC. Kuwait, Kuwait 03 Tiuikea Influence in 1904-1985 
04.25 p.m_: Mr. A.F. Kl i m a, Chairman, H. Clarkson & Company, London, UK, Tankers • All h not Gloom 
04.45 p.m.: Afternoon Tea 



’ Nation in Se a borne Trade: The Arab Case 
Y, Kuwait, Gulf Stales: Future I 
. Fermion, Editor. Lloyd’s list. Lmdon. Mr. AJ.l 


Cha ir ma n , H. 


05.15 p.m.: Mr. T. Rafgard. Secretary General, Intertmbo. Oslo. Norway, Arab Shipping Role in S crap p in g. Panelist*! Hr. R. ftnadua. Hr. A. 

Al-Badr, Mr. A.F. Klima, Mr. T. Rafgard and Mr. A. Sultan, Vice-Chairman end Managing Director of Arab Maritime Petroleum 


Tankers Co. 

08.00 p.m.: Dinner hosled by ihe Chamber of Commerce & Industry Kuwait 

MONDAY, 27th JANUARY, 1986 


10 APEC Speakers 


09.00 ibl: MORNING SESSION, Shipbuilding & Shipping Service Sectors, Hr. A. Attiga, Chairman, 

09.05 J.m.: Mr. L Chalaby, Undersecretary. Ministry cf Gfl. Iraq. Board Member, ASHY. Bahrain, Arab 7 

09.30 ajn-: Mr. M. Exaat Adel, Chairman. Suet Canal Authority, Suez Canal and World Shipping 
09.55 a.tru: Hr. Graham Day, Chairman, British Shipbuilders. U.K. London, Training & Transport: linking Needs in Ocean Shipping Development 
iai5a.ro.: Coflee Break 

10.45 slrl: Dr. G. Monkktar, Director General Maritime Academy of Alexandria, Human Investment in the Arab Maritime Sector. Pkne&atM Mr. L 
Chalaby, Mr. M. End Adel, Mr. Graham Day, G- Monkhtor and CipL A. AJ-Diwani, Director General Arab Maritime Transport 
Academy. Sharjah 

01.00 p.m.; L unch eon 

0400 p.m.: AFTERNOON SESSION, Mr. B. Pap a eh riatldla, Chairman, Chairman, Popachri sit i di s, (UK), Ltd., London 
0405 pm.: C apt a in A. Al-Diwani, Director General Arab Maritime Transport Academy, Sharjah, TV) Role of the Arab Maritime Transport Academy in 
the Arab Maritime Economy 

0455 n-m.: Mr. A. Vgenopouloa, Vgmopoulo* Law Offices, Piraeus, Greece, Legal Aspects for the Development of Arab Shipping 
0445 pan.: Afternoon Tea 

05.15 p.m.; Mr. A. AJ-Jadir, Former Director of Shipping, UNCTAD, Geneva, Financing Arab Maritime Thuuport for the next IS years. Panelists; Hr. 

C-CML Cooke, Consultant, Baker & McKenzie, Sotidun. London, U.K.. Captain A. ALDiwani, Mr. A. Atjadir and Mr. A. 
Vgenopouloa 

08.00 p.m.: Dumer hosted by National Bank of Kuwait 


TUESDAY, 28th JANUARY, 1986 


v Graham Day, Chairman, Outf Executive, British 
be Role of ~ 


; in the Growth of Arab 


London 


09.00a.m.: MORNING SESSION,! 

09.05 a.m.: Mr. A. Al-Torkl, Maapging Director, National Shipping Co. SiuuK Arabia, Tbe 
0030 Lin: Mr. I. Dubdoub, Chief General Manager, Nadotuu Bank of Kuwait, Shipping Finance in Arab ' u 

0955 a.m.: Mr. B. Pnpachrfotidis, Chairman, Papachristidu, (UK), ltd, London. Initiatives in Ocean Trarapoitatioci: A Foreign Owner’s Point ol View 
10.15 a.m.: Coflee Break 

10.45a.ro.: Mr.T. Pctroponloe, General Manager. OMNIBANK, London, Qningca in Maritime Investment Opportunities: Tbe Case for the Creation of an 
Arab Maritime Investmenl Fund. Prnrihfa Mr. L D»lwli«4 H- TwhAmi, My. ML Me. T. — A 

A. Al-Torkl * 1 

01.00 p.m.; L unche on 

04.00 pjii.: AFTERNOON SESSION, Professor Cootas Tb. Grammenos, Chairman, Director, the International Centre for Skipping and Shaping 

Finance, The City Unioenitr Badness School 
0405 p.m.: Mr. ML Ridha, Chairman, 


JarrSne < 


i y. Banking, Insurance and tin 


Ltd. (1 


London f/JC, 


Insurance in the Wi 


04^5 pm.: Mr. J J J*. Toomcy, Deputy 
04.45 p.m.: Afternoon Tea 

05.15 pm.: Mr. G.C.M. Cooke, Consultant, Baker & McKenzie, SoUators, London UK, Financing Joint Ventures ■ Mutintiatngtfae Risk in Law. QnmTifinn 
and Dfocuasioos. Closing Remarks and Redommezidatloas 
08-00 p.m.: Dimer host ed by Kuwait Oil Tankers Co, 


FEES 


ABA Manhera: £400.00. Non Menben; £500.00. Cheques parable to Arab Assocutionr 

Anb Bankers Association, 1/2, Hanover Street, London frIR 2WB. England. Tehjpbooe: (01) 5295421 Tekac 297338 ABA-G. 


U.S. Responds on Soviet Moratorium 


Penn Thai Dies; Leader 
Of Cambodia Resistance 


on 


New York Tima Service 

BANGKOK —Pcam Thai, 51, a 
former Cambodian diplomat who 
became a leader of the anti-Viet- 
namese resistance on the Thai- 
Cambodian border, died in Begmg 
on Wednesday, according to offi- 
cials cf the fanner People's Na- 
tional Liberation FroaL 

Mr. Penn Thai was the son of the 
former Cambodian prime miniSta:, 
Pam Nouth, who died earlier this 
year in Paris. 

Son Sann, the leader of the front, 
said Monday that Mr. Penn Thai 
had been in poor health since his 
wife and several children died in 
the Khmer Rouge seizure of power 
in Ccuribodia in 1975. “He really 
never recovered from the shock,” 
he add. 


A UiL senior official said that a letter offering further discussion on 
the issue was “an its way to Mr. Gorbachev from the president" The 
Soviet Union announced a unilateral six-month moratorium in August 
after (he United States rejected a proposal for a joint moratorium. 

Mr. Reagan's letter did not .change ^UJS policy opposing the moraion- 
party uncovered monuments, as um but did react approvingly to what the senior official called “the 
weO as Hellenistic soriptare, creai- positive aspects" of Mb. Gorbachev’s latest proposal. “We're intrigued 
cd byjhe king for his tomb in the with apparent Soviet interest in on-she inspection for verification pur- 
poses,” ihe official said. “That's something new from them that deserves 
to be taken seriously." 


i of Antiodms L who ruled 
in toe first century B.G She and her 
covered : 


Irving Murder, 64, Writer, 
Ex-E<fitor at the IHT 

WASHINGTON (IHT) — Ir- 
ving Mantac; 64, a writer and for- 
mer rdilc e at tbe TtUwrinrimial 
Herald Tribune, was killed in a 
traffic accident Dec. 12 in South 
Pasadena, California. 

Survivors include bis wife, Inge, 
two sons, Nicholas, 24, and Patrick, 
20, a step-daughter, Qaudia, and 
three brothers, MBton, Murrey and 
Calfm 

IBs first published book was 
“The Paris Bit” which came out in 


Antt-ltaurus 
■ Other deaths: 

Richard P. Goodie, 87, who 
brought the Mormon Tabernacle 
Choir to world prominence riming 
his 17 years as its director, Sunday 
m Salt Lake City following a short 

iTlnfcSK- 

Janos Lederar, 81, a Hungarian 
fanigrfe journalist and irariing au- 
thority on East European affairs, 
the Ohserm weekly newspaper 
< priri Sunday. . 

Barbara K. Firestone, 70, wife of 
the industrialist and former ambas- p v « j 

sador to Belgium, Leonard K. Fire- fOrtllC tlBCOlu 
stone, Tuesday of cancer m Rancho 
Mirage, California. 

KeaODea, 72, a catcher in ma- 
jor league baseball for 12 years, 

Tuesday in Lima, New York. He 
played for the Chicago Cubs, the 


Taraoff to Head U.S. Foreign Coundl 


NEW YORK (AP) — Peter Tam off, a career diplomat, was 
Monday as president of the Council on Foreign Relations. The group is a 


publishes the journal Foreign Affairs. 

Mr. TarnofFs appointment was announced at the conclusion of a 
private meeting of the council’s 24-member board of directors at its 
headquarters here. He succeeds Winston Lord, who has been namwl 
ambassador to China. 

Mr. Tamoff, 48, entered the U.S. Foreign Service in 1961. 


from 1935-1946. His batting aver- 
age was 255, with 40 home runs in 


Andrew Wolf, 42, a chamber mu- 


Orthodox Party Assads Israeli Cabinet 

JERUSALEM (UPI) — The ultra-orthodox Agudai Israel party sub- 
mitted a noconfidence motion to the Knesset on Monday to showits 
disapproval of the government's failure to halt the construction of a 
Mormon academic center, a parliamentary spokesman said. 

The sp okesm an said the Israeli parliament would vote on th e moti on . 
Tuesday. On Sunday, the Israeli cabinet assigned a ministerial group to - 
consider the future of an extension of Brigham Young University that is 
being constructed on Mount Scopus in Jerusalem. The decision followed 
a threat by tbe religious parties to leave the government if the team were 

not established. . . . 

A gnHn t Israel one of the four religious parties that art junior partners 
in the 15-month coalition government, also accused the cabinet of 
permitting violations of the Jewish Sabbath. A walkout by the religious 
parties would not threaten the survival of the cabinet because ite two 
matti constituents, the centrist Labor Party and the right-wing Likud 
bloc, bold a combined total of 85 of 120 seats in the Knesset. 


r* 


WASHINGTON (WP) — President Ronald Reagan is sending Mik^ 
hail S. Gorbachev what U.S. officials are describing as a conciliatory' 
response to the Soviet leader’s offer to open some nuclear test sites for. 
inspection in return for U.S. participation in a Soviet moratorium cm 
' nudear testing. 


the 1960s while he was a copy edi- 
tor at the Herald Tribune. Until 
March he had worked for five years 
on the copy desk of tbe Los Ange- 
les HeraU-Exammer. 


Abdel Karim Khafki , 33, a Moroccan who participated in the takeover 
of a courtroom in Nantes, France, has been charged with two accomplices 
and. will not be expelled to Morocco, a prosecutor Sunday in 
Nantes. 0 ff>j 

wu».uie A Stowaway who swam ashore from a Soviet grain ship anchored in the 

New York Giants, tbe St. Louis Mond ? y » swimming instructor m 

Cardinals and the Boston Braves ^ Ukraine who had always wanted to live in the West. (UPl) 

Pope Jokn Pmd H, acting cm a request from the Idamic government of 
Iran, sent an emissary to Tehran on Monday with « rvirictmag 
of prayer and human solidarity" for Iraqi prisoners of war . (UPI). 

b Mmu^pofis, Mary Lund, the first woman to receive a meebrnkaif. 
hearu is suffering from kidney problems and still is in critical condition >■ 
five days after her snrgery, doctors said Monday. (Heaters) 


sic 

at 


home in suburban Boston. 


Theresa M. Goefl, 84, 
Found Tomb of Antkidius I 

NEW YORK (NYI)— Theresa 
M-GoeiL 84, an archaeologist vdw 
uncovered the tomb of Antiodms I 
in Turkey, died Wednesday after a 
long illness. 

Miss Goefl was best kzmwn for 
her work oa tbe Nimrod Dagh i^o- 


State Weighs Acquittals in Papal Trial 


The Associated Press 


ROME— The prosecutor in the 
trial of sens men accused of con- 
spiring to kfll Pope John Paul II 
probably will not seek guilty ver- 
dicts, a source said Monday. 

But the source said that Antonio 


the May 13, 1981, shooting of John 
PauL 


mg full 


of the three Bui- 

ject in sout heas tern T urkey - in tire gariam and three Turks who are 
1950s, in which she explored the charged with Mehmet AH Agca in 


Chilled 


TIO PEPE 


The natural aperitif. 


Very Dry Sherry 


Instead, Mr. Marini 
will request an acqui 
ground erf a lack of sufficient evi- 
dence, said the source, who is dose 
to the prosecution and who re- 
quested anonymity. 

The source said that Mr. Marini 

was frustrated by a lack erf corrobo- 
rating evidence and by the erratic 
behavior of Mr. Agca, a Turkish 
gunman who is the dud witness. 

Mr. Agca, who is serving a life 
salience for having shot John PauL 

fnlii tkA j ■ _ l ■ 


After seven months of te sti mon y 
in Rome, West Germany, Swioer- 


ini probably ^d, Turkey and the NetiwitUMte, 
tiual on the prosecution wrapped up its case 


twaBuT 


Saturday by 

garian defendants m l 

Mr. Marini said the defendants 
probably would be his final/*te ■ r 
nesses. He is expected to present 
final arguments when the court re* • 
convenes Jan. 10. 

Under Italian law, the pro&o. * 
tor can ask the jury for verdktt iSr- '';7S 
guilty, complete mnoeence 'orao: ; 

quitml for lack of sufficient ew- 


told the aatiumtiK duiinnhis*fim d f Ke - ^ jury, which is eorapojsd' 
‘ ' rte ^ ^J^aadshcdthSTis-' 

Wnt r fail - !« 


tnal that he acted alone. Later „„ 
turned state’s witness and said the 

shooting was the result of a Bulgar- 

lan-led conspiracy. 



UNIVERSITY 

DEGREE 


MCHBXK5 • kwsiars . DOCTORATE 
Wrafo AMdMfcT Ub Expariaw*. 
ScnddatolMmume 
for free evahjotlon. 

PAonc wesnarn unvb&ty 

too K- Sepulveda BlvcL 
t^Ajwto*, California 
Dapt.23. UAA. 


ejected to begin ddib e r ationi jo 
tttid-Fdmiazy. * 

The prosecutkM’s probJon, W - "* 
“wding to the source and many 
com observers, is that it has de- 
pended so heavily on the testimony 
of Mr. Agca. .V 

Tie 27-year-old Turkish tenqdri ‘r *. 
testified that the plot was SS; ' 
pB^gapa and execnied with : # 

“vofBu%aiiaaagenteandf^bw*-“ *. 
Tnria - 


But during several weeks on tie t 
witness stand, he coniinuiny 
J his «orv. adnmierf da*# he 


had 


daimedttLfe 


e‘: VA 


Jesus Christ. In the end^' he refitsed. 
to answer any more questions. . 






Page 3 



INTERNATIONAL HERALD TRIBUNE, TUESDAY-'WEDNESDAT, DECEMBER 24-25, 1985 


*s.«. 


JO 

% Kntk b! Richb'uig 

. Past Henke , 

- V 5SINOT0N — The andi- 
ij" "’«L a^w^.oC sdxxA 

is in Cleveland, and Educa- 
joeiaiy William 1 Bennett 
. v forward in his chair, eagaiy 

• > v someone to tains up Ins 

.^-year-aM student spoke up, 
' : > J anflg Me. Bennetrs asser- 
: UA schools must teach 

/ -:Jv people that the United 
' i: -- j: Jv)s “nwiraUy superior” to the 
-■ Union. 

J *yj. . ailda’t say that one is mor- 
“^jLter than the other,” said the 
. Rapa Dana, of Cleveland 

, » ■ J» 

about free speech?" Mr. 
' *-i fired bade. “I think this is a 
icntal freedom.*’ 

.teen-ager tried again: "In 
1 - j iriet Union, there is more 

re,” Mr, Bennett said. 

.. . ' jty of slavery — all equally a 
the state.” 

' •> .J Bennett dearly relished this 
aeons exchange. It was an- 
J diance to use what he calls 
facts” to score another 
'tor the Free World in the 
- . 7? strefflje between democracy 
.iMHuninsi tyranny.” 

: .r - secretary’s day, packed with 
1 ig stints, speeches and intear- 
■ . - '. 'was typical erf a day on the 
' '. jr the man who has become a 


U.S. Education Official’s Conservative Crusade 



Bennett has burned 
some bridges to the 
educational 
establishment, from 
the Hispanic lobby 
to the higher 
education 
conmmmty to civil 
libertarians 
concerned about 
separation of 
church and state. 


Wiffiam J. Bennett, die secretary of edaartkxn 


-iy ^iinml values and the 
'~ r can way of life. 

-r ... Barnett maintains an infra- 
'[■ylc, depute to former aca- 
. 7 career * 0*1 his membership 
■ J cabinet. 

. . " s a street kid from Brooklyn. 


but also a student of Jesuit t raining 
at Washington’s Gonzaga H igh 
SchooL A beer-drinking locker- 
roam badalappe^ be played foor- 
Knii at wrniamc Col lege in Massa- 
chusetts, but he also is a 
Harvard-trained lawyer and a phi- 
losophy professor with a PhD from 
the University of Texas. 

‘This guy grew op in Brooklyn 
— he’s not into pretense and trap- 
pings,” said Burton Pines, vice 
president of the conservative Heri- 
tage Foundation. “He is a model of 
the new conservative. Bill fcwnyt 
is at ease with the American peo- 
ple.” 


His political agenda — promot- 
ing traditional values, private 
school aid mid the exportation of 
American democracy — has de- 
fined Me. Barnett's fust II mnntftg 
as education secretary. 

It is the common thread 
what his wvtfar call an 

educational agenda that has 
lurched from student aid cnls to 
school prayer to bffingial educa- 
tion to private school vouchers. 

Anthony Podesta, of the liberal 
g youp People for die American 
Way. said, “Bete the fast secret a ry 
of education who goes around giv- 
ing speeches ob foreign poScy.” 


. “He qntinnes to court: the right 
and sir* their marie,” Mr. Podesta 
added. T think be is an ideologue 

pfft amri an wlnwtffy second.” 

Ml Bennett’s political agenda 
has endeared Mm to the New 
Right, and made him. one of the 
Republican Party’s most popular 
speake r* - A poll in the publication 
Changcxeceuily rated Mr. Bennett, 
42, aregistcred Democrat, the n»6t 
sought-after and controversial 
sperias- on the lecture circuit. 

He has been called a soGd White 
House team player; s up por tin g the 
president’s budget cwv in educa- 


tion programs, while building 
bridges to the Christian RighL 

Speculation that his ambition ex- 
tends beyond his current post has 
been fueled by to interest in news 
coverage ana the way he has 
plunged into a job he says should 
be aboBshed. 

Mr. Bennett ref ere to to under- 
lying agenda as the Three CsJ for 
content, character and choice. He 
fast spdled them out in a speech to 
the National Press dab in March, 
a month after he took office. 

"A lot of these issues are tied 
together by larger background 
— nrmfent , character and 
choice,” Mr. Barnett said in an 
interview. They can all be brought 
back to those themes. There’s been 
a consistency, I think, in what 
we’ve said.” 

He H»wim trilicism that he is 
imfnmwri on the Washington in- 
adas’ syndrome, which m e as u r es 
success in terms of legislative vic- 
tories on Capitol Hitt. “We’re not 
unfocused,” be said. “We’re fo- 
cused on many dungs.” 

He has proposed a voucher plan 
that would allow federal funds to 
pay private school tuition. He said 
he wants the federal government to 

vrirtui Smiled 
knowledge of the language. He said 
he thinks prayer and religion 
shook! be put back in public 
schools. He backed merit pay and 
c ompetenc y tests for teache rs . And 

be said he thinks schools should 
foster a national consensns in sup- 
port the Reagan adnnmstia- 


ic lobby to the higher education 
community to civil libertarians 
concerned about separation of 
church and stoic. 

His outspoken views brought 
him early trouble. A string of can- 
did remaiks drew unflattering com- 
parisons to James G. Watt, the for- 
mer secretary of the interior. 

In to fast news conference as 
education secretary in February, 
Mr. Bennett defended the adminis- 
tratioa’s proposed cuts m student 
loans by HeHaring that these hurt 
by them should consider “divesti- 
ture” of their stereos, cars and 
beach vacations. 

When be said that families with 
several college-age children should 
consider better “family planning" 
to cope with federal student aid 
cuts, an aide later explained hastily 


that Mr. Bennett meant “family 
fina ncial p lanning” 

As he ends the first year of what 
he expects to be a four-year term of 
office, Mr. Bennett seems to have 
tackled some of his early problems. 

His opponents acknowledge that 
he has moderated his rhetoric. Sen- 
ate approval this month of some 
key department appointees means 
Mr. Beonett now has his manage- 
ment team in place, adding an air 
of permanence to a department 
that seemed disjointed. 

The appointment of a newspa- 
perman as press secretary, and of a 
trusted aide who worked for him 
while he was chairman of the Na- 
tional Endowment for the Human- 
ities, have improved his public im- 
age- Relations with Congress also 
have improved. 


DIAMONDS 



YOUR BEST BUY 

Single diamonds at wholesale prices 
b> ordering direct from Aniwerp. 
die world’s most important cut- 
diamond marker Give diamonds 
to the onn vou love, huv for 
investment, for tour enjovmeni 
Write airmail for free price list 
or coil u t: 

Joachim Goldcnslein 
diamant export 
EstablUied 1928 

PelOunuiatral 62. B-3018 Antwerp! 
Befenm - TdL- <32^23407.51” 
Telex: 71770 *yl h. 
at the Diamond Club Bldg. 



don's policy in Central America. 

Mr. Bennett has burned bridges 
to some members of the edneation- 
al KtakK< h m wU 1 fr om Qjc EEgMtD- 




eagan Signs Bill for Record Farm Price Subsidies 




TheArsadoad JPms 
&HNGTQN — President 
d Reagan signed into law 
ay a ton bill that is fikdy to 
Sk subsidies to record lev- 
tftjedB to expand the sale of 
id; products in foreign 
tik:---- • 

pde Kservations within the 
{titration about the high 
. fang and other provisions, Mr. 
\a jod die legislation was on 
^e“nap forward for Ameri- 
^oenhare” that would move 
ig closer to the "market-ori- 
: * indnstry he has sought 
: president also signed a res- 
r • adage for die Firm Credit 
0 , the S7D-b3Eon banking 
-ik that is tbe nation's largest 
J aider. 

« Aims at Forest Sales 

Sam Rabbins of The New 
, ■,(. Time i reported earlier from 
, Qty, Missouri: 

cosdiest farm bill in history 
" 'qxaiswe gamble that agricul- 
roobles in dte United Slates 
cured with tower prices and 
government paychecks, both 
endm and hs critics said. 
h a gamble, they said, that 
: reductions for American 
' oditiescaD stimulate enough 
-a baying to reduce burdm- 
- '^undtues and provide same- 
^0®er tofull use of the Anier- 
' - griadtural establishment — 
l mffion farms, their suppli- 


ers, the rmtmariy that move their 
produce and the mills and shippers 
that process and sell h. 

Even the projected costs of SS2 
biffion over the first three years df 
the five-year measure are. hke those 
of farm legislation of past years, far 
from a certainty, many said. For 
example, current farm programs, 
which were enacted m 1981, wound 
five times as mweb as 
autbors had expected. 

Some economists believed the 
cost has been underestimated for 
the new measure because, they 
said, far more farmers are Ukdy to 
apply for benefits than now partici- 
pate in VS. farm programs. 

But if the new Food Security Act 
of 1985 can do all that its tradeere 
foresee for it, farmers, fa™ econo- 
mists and other experts agree, h 
will be wdl worrit tire budget costs. 

Overall, said Terry Bare, former 
director of the economics staff at 
the Agriculture Department, tire 
HD was “good for consumers, good 
far farmers and good for both the 
people who sell farmers their sup- 
plies and the manufacturers and 
processors who handle tire farm 
products.” 

Naturally, not everyone agreed. 

The conservative American Fed- 
eration of Farm Bureaus, the larg- 
est farm organization, also en- 
dorsed the legislation, but the more 
activist National Farmers Organi- 
zation and the National Farmers 
Union are still atta<±nig iL 


Cy Carpenter, president of the 
National Farmers Union, mM the 
HD “doesn’t deserve to be called 

fa r m legjdatBOU.” twraum* “il dOCS 
nothing to co nfr ont the crisis” of 
burdensome debts and rfamg farm 
failures. 

The bars prmri|vaT features will 
give both domestic and foreign 
buyers more American farm goods 
for less money and at the same time 
will offset reduced revenue from 
the marketplace with bigger gov- 
ernment checks. 

A projected result, they said, is 
Bkdytobearestratoonfoodcosts 

for consumers. 

The bill will use some old tods to 
start agricultural policy off in a 
new direction. One is a device by 
winch farmers can borrow money 
from the government when prices 
are low, pledging their, crops as 
coQaieraL 

l jtiy if they find it advanta- 
geous, they can pay off the loans, 
reclaim tire pledged commodities 
and either sell them or use them us 
animal feed. If not,' they can forfeit 
the caps and keep the price-sop- 
port loan money. 

tins year the price support loan 
rate for com, for example, is S2JS 
abusheL For wheat, tire autjorfood 
grain, the rate is S3 JO a busheL 
Both loan rates are above seffiug 
prices in most local markets. As a 
result, faiwiv have beo i turning 
over modi of their production to 


the government, leaving ware- 
houses stuffed with govemment- 
cootmOed surpluses. 

One reason far those smphises is 
that the loan rates also benefit fac- 
cjgn competitors, enabling them to 
undersell Americans and ca po™ 
markets once dominated by the 

United Siaiw 

The new bOl departs sharply 
from the ament policy. It provides 
far drastic reductions in the loan 
rates, cha&GQging foreign competi- 
tor to a battte m which the princi- 
pal weapons wOl be prices and the 
size of tiuh govemmait treasuries. 

In 1986, tor example^ tire secre- 
tary of agriculture must lower the 
toon rale far cam by at least 39 
wntt, to $2.16 a bushel, and, if be 
decides competitive conditions 
warrant a farther cut, he can lower 
the tom rate 24 mrti wore, to 
$L92 a bushel, 63 cents below tire 
1985 leveL The secretary can town- 
ie farther in subsequent years. For 
whert. the reduction from current 
rates could amount to as much as 
90 cents. 

To protect fannen against tosses 
from sharp decreases in pace, the 
measure uses another old device 
that guarantees a gommnm pay- 
ment for farmers who participate in 

^mi wnin wil farm p p i g n m nc nrKl iw. 
opt the restraints on production 
they usually 

“The rationale is that we have 
been playing into the hands of our 


i,” said Mr. Barr. “This 

r serves notice to the rest of the 

worid that we are going to be vay 
aggressive exporters. 

*Tto gives ns a chance f or a test. 
If it tnms oat after a couple of 
years that competition is not the 
key, well have to go back into tire 
p ro gram and operate on it again.” 

-Many agriculture e xp ert s argue 
that prices have less wrfhwnce on 
export sales than the anthocs of the 
HQ appear to believe. Same coun- 
tries resist food imparts for security 
reasons, the experts said, while oth- 
ers have trade arrangements based 
an considerations other than price: 

In any event, other critics con- 
tended, foreign competitors are 


Ekdy to fight back with aggressive 
pricing responses of their own. 

“It’s foolish to beEcve yon can 
steal those foreign markets back,” 
he said “The competition can’t af- 
ford to let them go.” 


“The T70 offers the beginner 
decision-free photography 
and simple operation . . . the 
experienced photographer 
has a camera unsurpassed 
in versatility.” 


A quote from ‘SLR Camera’ in the U.K. 


i i 


Canon 


„ F Create EBghrTech Factories 


' By James Banon 

‘ Ve » York Times Service 

N ARBOR, Michigan — 
Conway, who spoil more 


" /stems in CaTifnmta sold her 
>00 house in Palo Alto not 
go. She moved to the indus- 
*■ Middle West because, she 
this is where the technotogi- 
toa is going to be for the next 
ES.” 

-- rge Brostoff, whose $5-uril~ 
xta commmricariong compa- 
- 1 roots in California, moved 
larch and development staff 
n Arbor, a rapidly growing 
' ; sty town an hoar’s drive 
fctrait. He says his suppliers 
3 better-quality work than in 

. -aJjL 

Batronic Data Systems 
nod more titan 8,000 cm- 
s from Dallas to Detroit to 
General Motors’s push to 
terize the way it designs, 
- Ktmes and sens cars, 
race is on to create high 
P& “factories of the fu- 
n t ,in the industrial Middle 
I \ j 7/(>*ere the economy has been 
i y c^Pp etitkai from more 
I- nM m fMnTing plants and 
. ibor costs dsewhere. 


the region regain competitiveness 
in wodd markets without sacrific- 
ing high standards of living for 
workers. 

“Can we do it qaiddy enough to 
win against the Japanese?” said 
Douglas Ross. Michigan’s com- 
merce director. “We don’t know 
yet. Bat we’re sure trying, because 
if wc don’t at least do that, the risk 
is that everything we have w31 go 
down the tubes.” 

Experts see strong indications of 
progress. According to the Federal 
Reserve Bank of Chicago, there are 
more than 15,800 companies mak- 


the Midwest Governors Confer- 
ence have contributed $250^000 
eadh to open the Midwest Tedmdr 
ogy Devdopmem Institute in Mm- 


But M g b technology in the Mid- — — 

die West is notjust for new compar jfc West, whoe many corporations 
tries. The automobile companies Iwye sscntngy the same maaufac- 
arc sccantofing to bring new teebr juring ra p anilij i es as 40 y ears ago, 
oologies to factories budt 60 yearn mstead is c ombin ing high tedmol- 
ago, otiter ounpanks tiuit ogy and m anufacfn nng 


ti» country to the heavily industri- 
alized area. 

No one expects tins region to 
became as packed with computer 
co mpanie s as SSBoon. Valle 
Rome 128 near Boston. The 


Comet 
where t 




prospered with gears and 
hav e turned to dcctromcs. ~&e Nar 
ticmal Cash Register Co, which 
made its first mechanical cash reg- 
ister 101 years ago in Dayton, 


From Pittsburgh to Minneapolis, billions of 
dollars are being spent to many high 
technology with conventional 
manufacturing techniques. 


ids of 


arespend- 


i companies 

ons of doftars to many high 
ogy with conventional man- 
tog techniques. 

«w emphais m technology 
ig the Middle West the coh 
i m a nufact uring revolution 
J be as dramatic as the one 
PH with Henry Ford's roov- 
nfaiy fine. 

E- Borawski, the executive 
r of the Computer and 
“tod Systems Association of 
«y of Manufacturing Engi- 
ud that many engineers ex- 
QBfacturing to change more 
St 15 years than in the last 

fagees from the California 
taolQgy bub known as Sib- 
ley, (he uytnslrifll Middle 
the 1980s looks as chai- 
ns California in the days 

ampwers became a house- 

ri 

®ists say that demand for 
hnology manufacturing 
at wiD create a SlOO-bd- 
stry in the Middle West m 
15 years. Officials say they 
l Hgh uchndogy wfll hdp 


mg high- technology equipment m 
the ei^t states on the Great Lakes. 
Michigan, which had die highest 
UJS. unemployment rate in the re- 
cession of the early 1980s, has 
moved toward recovery, in part be- 
cause there now are more than 

85.000 new jobs in high-technology 
manufacturing, state officials say. 

In Pittsburgh, where steel is no 
longer the dominant industry, 

1 80.000 new jobs in advanced tech- 
nology have been created in the last 

decade, despite a 7-percent popula- 
tion decline. Minnesota, die borne 
base for the 3M Cmp^ Control 
Data Crap, and Honeywell Inc, 
has more than 100 new companies 
specializing in bi o m e di cin e and 
computer software within 50 mOes 
(80 kilometers) of the Mayo Cfimc 
in Rochester. Minnesota. 

Investors who long have 
dimmed the region’s sm o kestack 
industries as poor risks now are 
providing a steady flow of capital 
for high-technology research and 
development. The con .panics in 
Pittsburgh spend $1 J billion a year 
for »hnt purpose, and where private 
investors have been slow to provide 
such funds, stales have stepped in. 

lORI. Michigan has invest- 
ed mow than $50 mflfian m small, 
new companies. Three other states 
— Ohio, Hfinras and Indiana — 
have spent more than 5250 million 
on programs for new high-technol- 
ogy entrepreneurs. The 13 states of 


While high technology 
to be strengthening; the 
Wesfs economy, many 

mMH»m that the SUCCESS 0TL 

of tfrn irai mfa ctrmng m i^Tvn lc 
win hove essentially no effect an 
jobl essness . Unemployment in 11 
Middle Western stales, which 
efimbed as high as twice the nation- 
al average in the recess io n, fell to 
7.7 percent in October from 7.8 
percent in October 1964, according 
to the Federal Bureau of Labor 
Statistics. The imrinnni unanptoy- 
ment rate m October was7 percent. 

But the more successful high- 
technology manufacturing is, the 
fewer toctray jobs there will be. Ax 
one American Motors Corp. too- 


Ohio, now makes its own computer 
drips in neaxty Mianrisburg. 

to the Detroit area, where red , t 

estate values remained depressed toty atone; according toastudy last 
long after the rest of the n ati o n year, robotics could dnmnale 3,M' 
rebounded from the recession, high of 6jOOO handy jobs, 
technology is creating bo om n e igh - Tbe countering argument, made 
borhoods in Oakland County, » by Robert A. Bowman, Michigan's 
suburb where new office paries are state treasurer, is that 20 jobs at a 
being filled with new smafleompa- high technology company can so- 
tries. Many of them spftialrac in cnee 20^000 jobs at an anto maan- 
robotics, sensor technology and factorer by recreating efficiency, 
machine visum, technology de- qna&ty and productivity. By ope 
signed to give computers die power estimate, robotics atone could t — 
of sight and of recognition. vide more than enough jobs to J 

Perhaps more im port an t, toe GQflQQ auto workers who have 
technology in the Mmdte West is been on indefinite layoffs since tbe 
luring entrepreneur from around lastrecesston. 



THE BEST OF All POSSIBLE WORLDS 

DOLDBt GRAND HOIB, 

ZURICH 

Itooul dgGewtu, Dir. KurfiourrtrQfiR 65, CH-8032 Zorich 
: 01/ 451 62 31. Tafaxx 816416 gnd ch 



\ 

l 


i 

l 


j 

v 

■* 

t 

:> 

3 

I; 

i 

u 


e 

l 

n 

» 

1 

i 

c 


3 

a 

i 

a 

i 

-i 

n 

r 

5 

t 

t 

s 



> 


f 


* 


3 

* 

a 

* 


A 

12 





Ex-General 
In Police 
Is Killed in 
ie Area 


U.S. Says It Will Abide 
By Expiring SALT Poet 


Basqu< 


The Associated Press 

PAMPLONA, Spain — A man 
and a woman suspected of being 
Basque extremists shot and killed a 
retired general Monday while be 
was walking near his home in this 
provincial capital, the police said. 

They said that Juan A tares Pena. 
67, formerly of the Civil Guard, 
may have been killed to avenge the 
death of a suspected Basque ex- 
tremist, Mikel Zabaltza, who died 
under mysterious circumstances af- 
ter being taken into police custody. 

Witnesses said the couple ap- 
proached General Aliares Pena 
and Tired several shots, killing him 
instantly, then fled in a waiting car. 
No one claimed responsibility but 
the police blamed Basque separat- 
ists. 

In Portugal the Lisbon ticket 
office of the Spanish national air- 
line, Iberia, was bombed Monday 
and a Portuguese leftist splinter 
group claimed responsibility. The 
group said the bombing, which 
caused no casualties, was to protest 
Mr. Zabaltza's death. 

The police picked up Mr. Za- 
baltza in a raid in a San SebastiAn 
suburb on Nov. 26, four hours after 
Basque guerrillas killed their third 
victim in less than 48 hours. 

The Civil Guards said that Mr. 
Zabaltza, although handcuffed, es- 
caped as he was leading them to a 
purported arms cache in an aban- 
doned railroad tunnel along the Bi- 
dassoa River in Navarre. His body 
was found floating in the river near 
the tunnel eight days ago. 

IBs death touched off major pro- 
tests and violence throughout the 
Basque country in recent days. 

Results of an autopsy indicated 
Mr. Zabaltza drowned and was in 
the water at least 15 days. His fam- 
ily contended that the Civil Guards 
tortured him and threw him in the 


The Associated Press 

WASHINGTON —The United 
States will continue to abide by 
terms of the unratiiled strategic 
arms limitation treaty after it ex- 
pires Dec 31. it was announced 
Monday. 

“The policy stays in place," said 
the presidential spokesman, Larry 
Speakcs. 

“Our position on SALT-2 is that 
we have indicated that we will live 
under the agreements of SALT-2 
and not violate them," Mr. Speakes 
said. “And until we say differently, 


tbepoticy remains the same." 
Tnetrea 


i treaty, which President Ron- 
ald Reagan denounced in the 1980 
presidential campaign as “fatally 
flawed,” puts limits on long-range 
bombas, missile-firing submarines 
and land-based missiles. It was 
signed by Jimmy Carter and Leo- 
nid I. Brezhnev but was never rati- 
fied by the Senate. 

The Pentagon says that the Sovi- 
et Union has repeatedly violated 
the treaty. 

Mr. Reagan will face another de- 
cision in March when a new Tri- 
dent submarine, the Nevada, be- 
gins sea trials. He will be faced with 
a choice between either exceeding 
treaty limits or dismantling existing 
missile systems, such as two Posei- 
don submarines. 


The Soviet Union accused Presi- 
dent Reagan on Monday of “pro- 
claiming terrorism a new item of 
American exports," United Press 
International reported from Mos- 
cow. 

The Soviet press agency, Tass, 
condemned Mr. Reagan’s support 
for aati-Communist “freedom 
fighters" in Afghanistan, Cambo- 
dia, Nicaragua and Angola. 

“This is tantamount to proclaim- 
ing terrorism a new item of Ameri- 
can exports, on whose encourage- 
ment the Congress appropriates- 
ever new astronomical stuns/ 1 * ri — 
said. 


Tass said a UJS. report on alleged 
arms treaty violations by the Soviet 
Union did not contain new 
charges, according to Reuters. 

“It sets forth hackneyed inven- 
tions unsubstantiated by any con- 
crete facts and which were already 
more than once exposed by the 
Soviet side," Tass said. 

A digest of the report was made 
public by The New York Times, 
which said it was prepared for Con- 
gress and alleged tune Soviet viola- 
tions of arms control pacts. 

Tass described the allegations as 
“a fresh propaganda fraud." 



FATAL TRAIN CRASH — Six persons were kffled 
and five injured when a passenger train smashed into a 
stopped freight train Sunday night near Ferrara, Italy, 


Officials said Monday. The first car of the passenger 
train was crushed under a refrigerator car of the freight 
train, while its two other cars were heavily damaged. 


French Mediator 
Conveys Demands 
On 4 Hostages 


Gorbachev Faces Opposition in Policy-Making , Envoys Say 


nver. 


Reagan Budget Proposal 
Includes Sale of Utilities 


New York Times Service 
WASHINGTON — President 
Ronald Reagan's budget for the 
fiscal year 1 987 contains a proposal 
to sell the Bonneville Power Ad- 
ministration and three similar 
agencies providing electric power 
to milli ng*; of people living in West- 
ern. Southwestern and Southeast- 
ern states, according to federal offi- 
cials. 

The officials said Sunday that 
the proposals were part of Mr. Rea- 
gan's effort to sell federal assets 
and to transfer programs to private 
industry. 


Untied Press International 

BEIRUT — A French mediator 
seeking to fine four French hos- 
tages returned Monday to Paris 
with their captors* final demands as 
an envoy of the Church of England 
working to free U.S. captives 
worked in secrecy in West Bonn. 

“My missi on has ended, and it is 
now up to the French government 
to decide what it wants to do with 
the conditions of the kidnappers,” 
said Dr. Razah Raad, a cardiolo- 
gist, before leaving Beirut. 

He did not say what the demands 
were, but political sources said that 
they included the release of five 
persons imprisoned in France for 
trying to assassinate Shahpnr 
Rakhtiar, the former Iranian prime 
minister, in 1980. 

The hostages are two diplomats, 
Marcel Fontaine and Marcel Car- 
ton, a journalist, Jean-Paul Kanff- 
mann, and a researcher, Michel 
SeuraL 

Teny Waite, envoy of the arch- 
bishop of Canterbury, negotiated 
in secrecy far a third day in West 
Beirut to present “proposals” to 
the pro-Iranian kidnappers of at 
least four of six missing Americans. 


(Continued from Page 1) 
the United States at the Geneva 
meeting not to seek military superi- 
ority over the Soviet Union is as yet 
only words,” he said. 

• Yefied criticism of Mr. Gorba- 
chev by the old guard in the PoEt- 
buro. Vladimir V. Shcherbhsky, the 
Ukr ainian leader, took exception 
to the generally positive tone of 
public commentary on the summ it 
nwjtng in a recent speech and 
called lor a Soviet military bufldnp, 
saying the international situation 
remained “tense.” The diplomats 
said Mr. Gorbachev probably 
could not count on the support of 
Mr. Shcherbitsky and three or four 
other older Politburo members. 
There are now 12 voting members. 

• Tbe failure to name a new par- 
ty secretary to oversee econo mi c 
policy. The appointment would re- 

r ' e calling a plenary meeting of 
Central Committee. This key 
post has been vacant since Mr. 
Ryzhkov became prime minister m 
September. The diplomats said this 
suggested disagreement both about 
the choice of a new secretary and 
the policies he would direct. It is 
also possible that with four party 
secretaries already supervising dif- 
ferent facets of the econo m y, no 


replacement for Mr. Ryzhkov will 
be named 

•An incomplete reorganization 
of agricultural management. The 
diplomats said the creation last 
month of a vast agribusiness ad- 
ministration consolidating six gov- 
ernment agencies did not touch 
four other farm- related ministries. 
*Tt was dear Gorbachev wanted to 
do away with all tbe agricultural 
ministries, but had to settle for a 
compromise,’’ a diplomat said. 

• The appointment of regional 
party officials who have connec- 
tions to Mr. Ligachev but not to 
Mr. Gorbachev. Detailed bio- 
graphical information is difficult tO 
obtain, but some of the 34 regional 
party leaders replaced since March 
are known to haveworked for] 
organizations in Siberia, Mr. 
chev’s former base. 

“It may be that after his initial 
push in the spring, Gorbachev de- 
cided to let me dust settle before 
picking np the pace again,” a diplo- 
mat said. 

A more widely shared view is 
that Mr. Gorbachev has encoun- 
tered opposition to some proposed 
changes. 

Mr. Ligachev’s role in develop- 
ing policy is the subject of specula- 
tion among diplomats. Mr. Uga- 


Make-be&eve: 007 in action an fib? set 


SedSk; The KGB afoot an canfdamem. 



I 

I 

I 

I 

I 

II 
I 
I 





US 

IBS 




K23 

■SE3 

wm 


mm 



m 

Ij?333H 

■ITS 

mm 

mm 

E3 

ESRB 

WES 

■BB 

K 

HD 

EuSHH 

mB 

mm 

B 



mm 


B 

K2 



101 

55 

3D 

1 Greece 

■E3 



mm 


■El 

■EH 

n 

mm 



mm 


■eh 

Tsmm 

ra 



C2S3 


mm 

mm 

mm 

mm 



mm 

mm 


jpg! 


■EE?] 

mm 

ESI 


■k3 


BED 

EE3 

WUB 

■a 

MKHlI 

E 

E3 



'1 

■Eil 

Brl 

■Minn 

kZT12Z!!X*7*!-V- 


* 

M2 

238 

IX 1 


Intrigued by espionage? Get twice as much coverage for your 
money. Take advantage of our special rates for new subscribers 
and we’ll give you an extra month of Tribs free with a one- 
year subscription. Total savings: nearly 50% off the newsstand 
price in most European countries! Twice as much news 
coverage of spy activities and lots, bis more in the International 
Herald Tribune, the global newspaper. 

■ ■ Hcralb^^-Snbunc.i 

To: Subscription Manager, Inferrxttiond Herdd T ribune, 

181, avenue Chate-de-Gaulle, 92521 NeuillyCed»,FrarxB.TeL 47 47 07 29. Telex; 61 2832. 
FleaseaTler myajbsc riphcxi fon 

| 1 12morths rin | 1 3 months nri 

Please charge my crecfit asd aamunfc 





My check is enclosed. 

□ Co 


Gord account number 

Ccrd expiry dale 1 

Sgialure 


Nans 

Address 

Ofy/Counfry 

Tel/Tdeoc 

24-12-85 1 



chev, now regarded as tbe second 
ranking person in the party hierar- 
chy, is the only official besides Mr. 
Gorbachev to combine member- 
ship or the policy-making Politbu- 
ro, and the party’s Secretariat, 
which carries out policy. 

As tbe secretary responsible for 
ideology, Mr. Ugachev has gained 
a reputation as the enforcer of 
Mamst-Lemnist doctrine, often 
taking a harder line than Mr. Gor- 
bachev. the diplomats say. 

In a recent article in Kommunist, 
a party journal Mr. Ligachev took 
a conservative position, on econom- 
ic and cultural issues. 

In a speech on June 29. a few 
days after Mr. Gorbachev’s most 
forceful presentation of his plan for 
economic innovation, Mr. Liga- 


chev said any rbnngf s would take 
place “within the framework of sci- 
entific socialism” without “shifts 
toward a market economy or pri- 
vate enterprise.” 

While Mr. Gorbachev had not 
advocated market-economy prac- 
tices, he left the impression that he 
was prepared to introduce greater 
incentives, to tamper with the pric- 
ing system, and to cum over more 
power to plant managers, all of 
which represented a departure 
from the orthodox approach to 
economic j ul 


Diplomats say itis unclear if Mr. 
Ligachev is sobtly challenging Mr. 
Gorbachev or acting as his agent to 
alleviate questions raised by the 
Gorbachev speech. In their public 


The tmfiiaiy press, including 
Krasnaya Zvezda. the Defense 
Mi nist ry daily, was more restrained 
in praising the Geneva meeting 
than Pravda, the party paper, and 
Izvestia. die government daily. 


Diplomats said these sign* of 
displeasure were confirmed by tbe 
tone of Marshal Akhromeyev’s 
speech to the Supreme Soviet. 


Middle East Talks: A Fragile Prospect 


(Confirmed from Page 1) ■ 
the FLO, that the FLO leaders 
have. 

They five with the ever-present 
prospect of bong gunned down or 
stabbed to death by more radical 
Palestinians if they step out erf fine, 
as was a West Bank lawyer, Aziz 
Shehadeh, earlier this month. 

A broader peace in the Middle 
' East remans difficult to envision. 
The Israelis are implacably op- 
posed to dealing with Mr. Arafat 
and It is difficult to see what Israel 
would be prepared to give up in 
land or authority in any deal with 
the Palestinians and Jordan. 

Syria remains opposed to both 
Mr. Arafat and Israel and remains 
a central player in the region whose 
importance seems, to many Arab 
officials, to be continuously under- 
estimated by U.S. governments. 

And Hussein, while wanting 
peace with Israel and a solution to 
the Palestinian issue, is not seen to 
be as bold a figure as was Anwar 
Sadat, who defied his critics in the 
Arab world and made a dazing ven- 
ture for peace with Jerusalem. 

In effect, Sadat’s action means 
that Jordan is not alone in the Arab 
world now as Egypt was in 1979, 
when it signed the flawy David 
agreements with brad. 

The rest of the pattern includes: 

• Prime M nti y tw Shimon Petes 
of Israel wbo has won high marks 
pnbfidy from both Human and 
Mr. Mubarak. Mr. Feres is viewed 
by moderate Arabs as taking posi- 
ttvc st e p s t owa r d get ti ng talks start- 
ed, especially by agreeing to some 
Smiled international fonnn as a 
prelude to direct talks between Is- 
rael and Jordan, and by agreeing to 
meet with a joint Jordaman-Pales- 

twriaw delegation. 

Mr. Feres, however, only has 10 
months left in the “national nmty” 
coalition before bis Labor Party is 
to trim ova tbe leadership to the 
more conservative Likud Party, un- 
der winch negotiations are widely 
viewed as less Ekdy to proceed. 

recent UiL-Soviet summit 


Prime Minister 
•Shimon Peres of 
Israel is viewed by 
moderate Arabs as 
taking positive steps 
toward getting 
peace talks started. 



Gsmro IV«a 

Shimon Peres 


East was not near the top of tbe 
superpower agenda, also is seen in 
the region as an event that eased 
tensions generally and could con- 
tribute to a better atmosphere for 
talks. 

• The continued ability of Prea- 
dent Ronald Reagan, if he chooses 
to use it, to influence the peace 
process m what Arab moderates 
say they hope wiQ be a positive 
way. There is no doubt among the 


could mean an effort to soften Syri- 
an Opposition to negotiations with 
Israel 


the Umied States cam play the key 
outside TCkhs. There also is no doubt 
of their disappointment in what 
they believe is the absence of any 
imaginative US. policy or initia- 
tives. 

• The new and surprise rap- 
be tween Hnssein and 
Hafez al- Assad of Syria 
is a potential double-edged sword. 
No one pretends to know exactly 
where it will lead. 

It coold mean that Hnssein is fed 
up with trying to moderate Mr. 
Arafat, has 


It is the confluence of these fac- 
tors that prompts the moderate 
leaders to say that both an impor- 
tant moment is at hand and that 
“time is slipping away,” as Mr. Mu- 
barak put it “That’s why we shook! 
do something in the very near fu- 
ture so as to keep the peace process 
going,” he added. “Otherwise, we 
are going to lose everything.’' 

Mr. Mubarak and others say that 
the key step now would be to let 
some kind of international forum, 
including the Soviet Union, take 
place and see where it leads. 


lost confidence in 
meeting at Geneva, which in one Washington and has tamed to Syr- 
sense indicated that die Middle la to buttress its security. But it also 


But Mr. Peres has talked of being 
agreeable to some vague form of 
international auspices or support 
that might be a first step toward 
fflrwt negotiations with Jordan. 
Last week in Washington, a senior 
State Department official spoke 
more positively than the Reagan 
administration has before about 
some form of an international con- 
ference. 



To Accept 



On Israel 

Byjol 

Vf» York 


appearances, both men seem to be 
on good terms. 

This contrasts with the leader's 
more formal relations with the de- 
fense minister. Marshal Sergei L. 
Sokolov, who was seen on televi- 
sion greeting him at the airport on 
his return from Geneva with a per- 
functory handshake. 


ESCORTS & GUIDES 


INTERNATIONAL 


ESCORT 

SERVICE . 

USA ft WORLDWIDE 

Htod ofSco in Nvw Y<xi ' 
330 W. S6*i SL. N-YjC UXB9 USA 

212 - 765 - 7896 . 

. 212 - 765-7754 . 


MAJOR OfiMT CARDS AND 
CHKJK ACOTHT ' 
Private Mteituntiipi AvdkAte 


Ifcfc 

riwlfatapla 

jEat Service by 

USA A i ntemUO oHol mm a 
MndtagTodki aad IV, 


ARISTOCATS 

London Ewart Service 
128 Vfenece SL. laatfan WJ. ' 
AD make Cmb Ganfc A ccente d 

t£ ss a 4i t an 

T2 nan - mAifj s 


CAPRiCE-NY 


ESCORT S3VKEM NEW YORK 
TEL 21WJ7 ran. . 


MAYFAIR CLUB 

ESCORT SBMCEfrMigw 
ROTTERDAM U9H155 


THE HAGUE! 


7994 


>hn Kifrwf 

Vw York Times Strut t, 

CAIRO — Yasser Arafsa, & 
Palestine Liberation Orgiucaftiog 
chairman, is under increasing pas- 
sure from moderate Arabs wk- 
cepi 3 United Nations resofatwq 
recognizing IsraeTs right toeoRat 
be dropped from the Middle Sag 
peace initiative of King Hwna&tf 
Jordan. 

For more than a week, M&io.. 
fat h3S been expected is Amfc^flic _ 

the invitation of Husso&Wty 
wants to commit the PLOjpferfe 
the crucial resolution that theUph- 
ed States insists is the priertar 
entering peace negotiations. 

But Mr. Arafat has remaafipn 
his headquarters in Tunis; 
a bad back while calling for-yet 
another meeting of his executive 
committee. 

His second-in-command, Saleh 
Khalef. said Monday that Mr. Ara- 
fat had been told that he if be foiled 
to accept United Nations Security 
Council Resolution 242 widen 60 
days, Arab countries would turn to 
Syria, which controls Palestinian 
splinter groups hostile to Mr. Ara- 
fat. 

“Many are now betraying us . 
said Mr. Khakf, who abo is known 
as Abu lyad at a news conference 
in Kuwait. “They are anew pressur- 
ing us to extend more concessions, 
including recognition of 241" 

President Hosni Mubarak of 
Egypt said Monday that unless Mr. 
Arafat accepted Resolution 242 
within two months, he would be 
“the big fat loser." 

In an interview with the Ameri- 
can television network NBC Mr. 
Mubarak said Hussein “would find 
another way out." 

Mr. Arafat and King Hussein 
agreed Feb. 1 1 to work in concert 
on a strategy for peace. Bui tbe 
Jordanian king had declared earlier 
that his position was based on Res- 
olution 242. 

A key adviser to Hussein dent- 
Mortdav in Amman that any spe- 
cific deadline had been set, but be 
made it dear that the pressure was 
on Mr. Arafat to come up with a 
formula for accepting the UN reso- 
lution. 

“He himself should appreciate 
the position be will be in if he 
should no: do this,” the adviser 
said. “If he is reflecting the feelings 
and aspirations of the Palestinian 
people, he should be making a deci- 
sion in a positive way. 

“If be does not,” Hussein’s ad- 
viser added, “this is a problem Ara- 
fat mil have to sort out with tie 
Palestinians, and this has been 
dearly conveyed to Arafat himself 
by his majesty." 

Resolution 242, which was. a $ 
proved by the UN Security Com* 
after the 1967 Middle East 
called for the return ctf aO Arab 
territory conquered by Israel in re- 
turn for its right to five in secure 
and recognized boundaries. - 

Mr. Arafat also would be expect- 
ed to accept UN Resolution 338* 
which is snrwlariy worded and waj 
passed after the Arab-Isradx irar tit 
October 1973. 

The FLO refuses to accept the 
resolutions because they refer to 
the Palestinians only as refugees 
and make no mention of a Palestin- 
ian stale. 

Mr. Arafat has long insisted that 
if be accepts tbe resolution, be win 
have forfeited his only diplomatic 
bargaining chip. 

His freedom of maneuvering is 
limited further by factionansm 
within the PLO, with milit^ 
groups opposing any co mp ro mi se 

One faction, led by Kmded al- 
Hassan and his brother, Hon al- 
Hassan, has been urging some form 
of acceptance of Resolution 242 in 
exchange for a place at the bargain- 
ing table. 

But an apparently more influen- 
tial group led by Mr. Khatef and by 
Farouk Kaddoumi, head of the 
PLO’s political department, is op- 
posed. 

The bodies comprising tbe PLO 
lea d e r ship met in Iale Novembg in 
Baghdad under pressure from Hus- 
sein to consider the issue of the 
resolution. 

An opaquely worded statement 
was all t«3i emerged from #=■ 
meeting. Bui Western dipJanra _ 
and Pales tinian sources said that 
sentiment at the meeting was 
strongly against what were viewed 
as any further concessions to the 
King. 


INTERNATIONAL CLASSIFIED 


{Continued From Back Page) 


ESCORTS* GUIDES 



FRANKRJRT 


ZURICH 

M;CT/252 Al 74 

LONDON 

Porfmon Escort Agency 

laadaa tfl 

Tafc 486 37U4 ac 486 1158 

Al ai^er nAank -accepted 

* JASMINE it 

AMSTH^BCgJsavKS 


* LONDON ★ 

BttamwBcowaByicE 

■ 402 7«0 -r 499 2225 
***** * *•■»*#»'«****•• * 

ZURICH 

BN^BCORTSERVICE 

TB^O!/3Al<» 64 

LONDON 

LONDON ACE 

6*wt Service. Tefc TO 3851 

Gredl Cads. 1 lam nadeghe 

BELGRAVIA . . 
facart Service. 

- T«fc 736SB77-. . 



ESCORTS & GUIDES 


i y W ” , * r r * SUIttOUMDWgS 

a *jqBiJS6ftS 

m <3 57 43. ^ 


ken. Ti 


AMSTBSAM SYLVIA 
Esawt Servo. Teh ft 21255191. 


* AMA, SMOKE'S t» 

fr »v , et service. TeJ • 
_fi2 88 05. Grit cerrii atarfntt. 


SeroL ft n 


■gsaasEss 


lONpew WMHROW. LAURA &. 


MAfijHD IMPACT _*T 

jg**tt.Mrf8HQuoL2ftl XW2 


LONDON ESCORT 
T«L935S3»l^ 


MBKY. 


*ONDON ESCORT SERVICE. 14937 


WWC BOflir AMI CUBE Sv 




SeoMi 


Servo aa3is5wcr 




Swvo.21M2W»7a. Gvfit 


cordt 


escorts & guides 


*-**SSnCAN Escort Sanies Eowy- 

_Where! 


ZUt»4 ILQBN ESCORT SBWICL 


**f*«TWT -EVA* BCORriiro* 

wl service. TttOSP/ii 77 75 


SHAIUE ilOMXM BCOKT Aq***. 
Tet01-g9&a» 


MtMCU -BAVARIAN E SCORT Sf- 

- T r 1 HI 1 1 1 


wnoon, HEATHKW mVBI zx 

_Q»rtSenro.T4>n}5sWl _ 

Am* Bcorr mhct, lokKa. 

-T4 01^575 7838. ila nim dni t y f - 

WMDONjOMBirAL GUBI& 

_T4Pl-aO >*c 


‘SSf^5“ MeE, “ to 


AttSIBBIAM MNBT BCORT *r- 

let I ' “ 




WtiSSas. OtANTAL tVfX 5*r 

.vgg T* BZ>S20 23 


> BOOtf 

Sbwwcb. T4 91 g 14 


C * a »* Mt |i| BCO«T jatwet 
■tariw 402 1963 ar2»?«P 


rxano scours* 


StwolTA 4WD.l.lQgw 


1 


m RRn SBsanoNs. aacm 

_ yn 401 15g. GurchAm 






AMS3BBAM MfCJDBtU 

n 2Q.3PW f 


^WgNTOHMppwMTw. 

v«.Mrfa*»xA T4 *T«S! 


















Page 5 




BSTERNATIONAL HElULD TRIBLnVE, TUESDAY- WEDNESDAY , DECEMBER 24-25, 1985 


aunch Sites Are Busy at Cape Canaveral 


■ : k the first riirw in the U.S. space program, two shuttles are on launching pads at the Kennedy 

■ ace Center being prepared for missions Columbia, left, whose departure was delayed earlier, is 

in Mt eg on Jan. 4. Challenger was rolled out Monday to prepare for its takeoff on Jan. 22. 


iomb Kills 6 at South African Resort 


(Continued from Page 1) 

- - ihe remote, Orange Free State 

- i of Brandfort 

■‘.is sdD, however, an offense for 
■o be quoted in South Africa or 
ier to oe involved in politics. 

- court, state prosecutors asked 
. Mrs. Mandela, the wife of Nd- 
■* Mandela, the jailed national i st, 

ced on bail equivalent to about 
. ). But her lawyer, Akhbar 

- b, said she was such a well- 

rance Resolves 
Revision Dispute 

•_ . Realm 

-ARIS— The French legislature 
• resolved a political dispute over 
-reposed new television channel 
approving as amended bill to 
.. w private transmitters to be in- 
led on the Eiffel Tower. 

Yben it was first introduced, the 
ft law drew strong criticism 
n the rightist opposition, which 
used die Socialist government 
'stealing” the monument for its 
.. ideal ends. The tower already 
■ lies transmitters osed by the 
enetwodcs. 

Tie Saturday decision paved the 
y for the new channel, France's 

- b tat the first fully private one. 

ultra kwMirlmaaFtinD T«#4l 


known figure that setting bail was 
irrelevant. Magistrate Hendrik 
Brandt agreed. 

[Mrs. Mandela’s arrest was criti- 
cized Monday by the Reagan ad- 
ministration in Washington and by 
the Commonwealth in London, 
Reuters reported. 

[The chief White House spokes- 
man. Larry Speakes, said, “We 
hope the South African govern- 
ment will refrain from such repres- 
sive measures and move towards 
discuss on with leaders of the blade 
community-” 

[The secretary-general of the 
Comm onwealth, Shridath Ram- 
phal, said, “The latest provocative 
and violent act against Mrs. Man- 
dela will be seen throughout the 
Commonwealth as further evi- 
dence of the compelling need to 
end apartheid and establish the 
structures of democracy in South 
Africa.] 

Mrs. Mandela’s defiance of the 
restrictions seems to deepen the 
problem faced by a white-minority, 
government confronted both with 
domestic and international de- 
mands for political liberalization, 
and with equally pressing demands 
from a white constituency for repri- 
sals against opponents called ter- 
rorists. 

Monday’s bomb explosion here 
seemed certain to reinforce white 
demands for punitive action. 


“It was absolute carnage; there 
were bodies everywhere,” said Pe- 
ter Morton, 45, a white business- 
man who said he ran to the S an la m 
Center shopping «w>n as soon as he 
heard the blast. 

A physician practicing in the 
ijaniam center, who declined to be 
identified by name, said that on 
Monday morning, a woman work- 
ing in a gift shop saw a man de- 
scribed as an African deposit a 
package next to a yellow plastic 
garbage container. The person then 
walked away. 

About 10 minutes later, the 
woman approached the package 
and it exploded, the physician said. 


Africans Start to Report AIDS 

WHO Initiates Campaign to Curb Epidemic Workkcide 


' By Lawrence K. Altman 

• New York Thna Service 

GENEVA — In an important 
change of attitude, major African 
countries have started to become 


there, who worry that irrational 
fear might jeopardize tourism. 
They also perceive themselves as 
being blamed for an insidious ail- 
ment linked to taboo practices. 

dais of the Worid Hedth Organi- «“ {gK'JE. *222 
zauon, m an expression of mount- 
Lag concern, say they plan a new 
push to control the global epidemic 
of the usually disease. 

Last week Kenya became the 
first country in black Africa to re- 
port cases of acquired immune de- 
ficiency syndrome to the World 
Health Organization, an agency of 

the United Nations with headquar- 
ters here. 

Kenya reported #* cases irrvolv- 

tieutsEom three other African 
countries whose diagnosis was 
made in Kenya. Eight of the pa- 
tients are dead. 

President Mobutu Sese Seko of 
Zaire said recently in Kinshasa that 
he would act forcefully against 
AIDS in accordance with recom- 
mendations being drafted by medi- 
cal experts in that central African 
country. 

A few days ago, doctors and 
health woifcers began distributing 
educational pamphlets to their pa- 
tients in Kinshasa. 

[The tiny central African state of 
Rwanda said Saturday that 319 
cases of AIDS had been diagnosed 
there and that 106 of the victim: 
had died, Reuters reported. The 
health and social affairs minis ter. 

Francois Mnganza, said at a meet- 
ing of the ruling party congress in 
Kigali that 86 of the victims were 
children under IS.] 

Such acknowledgments follow 
repeated denials of the presence of 
ADDS by leaders in Kenya and 
Zaire. Kenya confiscated the Nov. 

9 issue of the International Herald 
Tribune, which contained a New 
York Times article on AIDS in Ko- 
nya and other African countries. 

The prevailing thesis that the dis- 
ease originated in Africa has drawn 
widespread objection from officials 


Video Game Innovators Slide 

(Continued from Page 1) 
ers saw their net worth shrink to 
very manageable proportions, and 
now are trying to figure out what to 
do next 

Numerous reasons are offered 
for the swift collapse of the market, 
ranging from the general shoddi- 
ness of many games to the rise of 
MTV, a cable television channel 
that features rock videos. 

Home computers, which are 
more sophisticated than the Atari 


type of game console, were seen as 
the next hia entertainment medi- 


um. Industry experts expected 
home computers to generate a new 
wave of video-computer game de- 
mand. 

“The biggest surprise in retro- 
spect,” Mr. Kirby said, "is that the 

home computer game and software 
market never inEteriaiirari to the 
extent expected.” 

By the end of 1983, it was be- 
coming obvious that the public’s 
infatuation with video games had 
faded into in dif fe ren ce. The novel- 
ty was never replaced with some- 
thing more substantial. 


called Kenya’s action significant 
because it opened the door for oth- 
er central and eastern African 
countries to do the game. Zaire, for 
instance, has not reported its AIDS 
cases to the WHO. 

In central and eastern African 
countries where officials still deny 
that AIDS is present, several new 
cases are diagnosed each week. 

WHO plans to create a unit at its 
headquarters that will be devoted 
to AID5 and to staff it with two 
medical experts. Dr. Assaad said. 

The organization is seeking $30 
million from developed countries 
to help developing countries pay 
for the epidemiological, laboratory 

and other technical support needed 
to buDd a health system designed to 
detect AIDS. Dr. Assaad said. 

He said a m?™ would be to 
stimulate and coordinate public 
health efforts against AIDS in ar- 
eas where the disease has become 
epidemic. 

Dr. Assaad said he was seeking 
"novel ways” to inform the public, 
particularly in Africa, because “we 
have nothing to combat AIDS ex- 
cept education.” 

No effective treatment has been 
"deysloped for the disorder, which is 
transmitted through blood and sex- 
ual contact and attacks the immune 
system, leading to death from in- 
fections that the body cannot fight 
off. 

The new push was stimulated in 
part by a meeting in Geneva last 
week of about 60 health officials 
and experts from 27 countries who 
agreed to help WHO develop a 
stronger program against AIDS. 

One sign of the mounting con- 
cern was the participation of Soviet 
and Hungarian health officials in a 
WHO meeting on AIDS for the 
first time. 

Dr. Half dan Mahler, WHO’s di- 
rector-general, pleaded with scien- 
tists ami health officials to "sacri- 
fice their own vanity conflicts” to 
develop the coordinated program 
needed to fight AIDS. 

This was seen by some as a refer- 
ence to a dispute between French 
and American scientists over who 
discovered the virus that causes 
AIDS. 

The Pasteur Institute of Paris, in 
a lawsuit filed in the U.S. Court of 
Claims in Washington, contends 
that researchers at the National 
Cancer Institute made use of speci- 
mens and data suppEed by the in- 
stitute In developing a viral anti- 
body lest 

Dr. Jean B. Brunet of the Claude 
Bernard Hospital in Paris said that 


"the AIDS situation in Europe is 

growing worse,” with an increase of 
160 percent over the past year and 
with the number of cases doubling 
every nine months. 

Fifteen European countries had 
reported 1,428 AIDS cases as of 
SepL 30, compared with 559 in Oc- 
tober 1984. 

Meanwhile, the number of cases 
in the United States has continued 
to increase, though the doubling 
time has slowed slightly to every 13 
months, according to Dr. James W. 
Oman of the federal Centers for 
Disease Control. 

As of Dec. 16, U.S. doctors had 
reported 15,581 cases and 8,002 
deaths. 


A small hotel 
cnalitde street 
called Rodeo Drive. 


A Max Baril Had 

THE BEVERLY RODEO HOTEL 

360 N. Rodeo Dr., Beverly Hilb. CA 90ZI0. Tetex No. K9I366 


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


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






■a 


,. v - 


,0 rD 



I 


I 


v 

L 


i 


i 


i 

i 


i 

i 

V 

1 

i 


;< 


»■ 

a 

l; 

i 

H 


4 

t 

l 

a 

a 

I 


i 

i 


i 

3 

n 

a 

l 

i 

!» 

r 

t 

i 



« 


3 

9 

* 


*1 

12 








Page 6 


Heralb 


INTERNATIONAL 



(tribune. 


PtAUchcd VUhTbe New YoATime* m3 Tlx W«bingtae IW 


Eastern Responsibilities 


George Shultz's wrath in Belgrade expressed 
America's frustration with terrorism. He was 
justifiably angry when his Yugoslav hosts of- 
fered a mealy excuse for failing to bold the 
presumed plotter of the Adnlle Lauro hijack- 
ing. Traveling through Eastern Europe, Mr. 
Shultz was also right to hold Romania ac- 
countable for the mistreatment of its people, 
notably a nonconforming Christian minority. 

Realism compels America to deal sympa- 
thetically with Europeans under Soviet domin- 
ion, bnt distinctions are important. This was 
underscored by Mr. Shultz's stopover in Hun- 
gary, which defers to Moscow on foreign af- 
fairs but allows a fair degree of freedom at 
home. In his careful praise of Hungary’s Coo 
munist leader. Janos Kadar, the secretary of 
state showed an appreciation of his deft strug- 
gle for wriggle room in the Soviet bloc. 

Yugoslavia d a » m; nonaHgnxneat and has 
long survived outside the Kremlin's embrace. 
There is no Russian-made excuse for giving 
craven haven to Palestinian terrorism. Mr. 
Shultz’s table-thumping was in order when 
Yugoslavia’s foreign minis ter cleared the PLO 
of responsibility for the seizure of the Italian 
ship and urged that in any case “when speak- 
ing of terrorism, one must also view the causes 
that lead to iL” As Mr. Shultz angrily replied, 
hijacking of ships and planes, and murder and 
torture of their passengers “is not justified by 


any cause that I know of." So also says the 
United Nations. Tardily but unanimously, it 
now condemns all acts of hostage-taking and 
calls on every nation to punish perpetrators. 

Nor can Romania evade responsibility for 
its repressions. President Ceausescu's nepotis- 
tic tyranny is indigenous, and so harsh that 
you need a police permit to own a typewriter. 
Romania persecutes tiny Christian sects so 
ferociously that it jeopardizes the most-fa- 
vored trading rights that Congress approved in 
1975. By saying as much, Mr. Shultz was 
putting human rights before Romania’s value 
as an anti-Soviet irritant — an uncommon 
priority in the Reagan adminis tration. 

Romania condemned the 1968 invasion of 
Czechoslovakia,, refused to jam the Soviet bloc 
in severing ties with Israel ami defied a Soviet 
boycott of the Los Angeles Olympics. Under 
U.S. pressure it has allowed many Jews to 
emigrate. But its independent maneuvers are 
not favors to the United States; they represent 
cold calculation of national interests. 

Mr. Shultz's sharp words signal a mature 
nun in American policy in Eastern Europe. 
The pobcy of looking only for gradual cracks 
in the Soviet dominion is reaffirmed. Bui it is 
augmented by a finnar A-mand that each 
Communist nation bear responsibility for ac- 
tions that are dearly its own. 

— THE HEW YORK TIMES. 


How Much Inflation? 


Inflation blipped up in the United States in 
November, the government’s statisticians say. 
It isn't very serious so far. The blip was not a 
la^gc one. But it draws attention to the narrow- 
ing choices available to the people who make 
American economic policy — which currently 
means the Federal Reserve Board — as the 
exchange rate of the dollar falls. 

When the dollar falls, imports cost more — 
and not only imports. Foreign competition 
holds down the prices of a lot of domestic 
products; automobiles are a prominent exam- 
ple. When prices of imports rise, that allows 
American producers to raise their own prices 
as welL For some time the country has had, in 
terms of inflation, a split-level economy. Infla- 
tion has been low among all the things that are 
traded internationally — food, clothing, cars 
and fuel being the most important. But among 
those things not affected by foreign trade, the 
inflation rate has been startlingly high. 

Prices of houses have risen nearly 6 percent 
during (he past year, and rent has been going 
op even faster. Medical care is up 6.6 percent. 
College and school tuitions are up 8 percent 
The average for all consumer prices rose only 
3.6 percent in the year ending in November, 
but cheap imports have been holding that 
average down. As imports become less cheap, 
the inflation rate is going to rise. 

That leads to an interesting political ques- 
tion: How much inflation is the country pre- 
pared to tolerate to keep unemployment from 


rising further? Not much more, by aD the 
present indications. The question will ulti- 
mately have to be answered by the Federal 
Reserve. To control the economy the govern- 
ment has two principle levers, federal spending 
and interest rates. Spending levels are now 
gning to he df tcpBinwi automatically by the 
Gramm- Rudman-HoDings legislation. That 
leaves interest rates, which are the Federal 
Reserve's responsibility. The Gramm-Rud- 
man-H oUing s requirements, enforcing declin- 
ing deficits, will slow the economy down un- 
less they are offset by falling interest rates. The 
Federal Reserve evidently feels that it can keep 
nudging interest lower as long as the inflation 
rate remains low and stable, as it had done this 
year. But if the rise in consumer prices goes 
over 5 percent a year, the yellow lights are 
going to be flashing. Under those circum- 
stances the Fed might well decide that it could 
not let interest rates decline any further. 

A lower exchange rate is crucial, to push 
America’s trade toward balance and aid the 
present dangerous accumulation of foreign 
debts. But the sinking dollar has important 
consequences for the economy at home. It is 
probably still possible to get through the com- 
ing year with moderate but continuing expan- 
sion of the economy and no significant change 
in unemployment But' it will take steady 
nerves at the Federal Reserve, as wdl as the 
usual ration or good luck. 

— THE WASHINGTON POST. 


Fast Food, Slow Facts 


Fast food outlets, a $47-biIlion industry, 
supply a large part of the American diet, yet 
then consumers have little idea of the ingredi- 
ents mixed into their burgers, fries and shakes. 
If they did know, the result might well be a 
healthy change in eating habits. 

A recent study by the Center for Science in 
the Public Interest reported that eight of the 
largest fast food chains cook french fries and 
other foods in beef tallow, which is high in the 
saturated fats believed to be a leading cause erf 
heart disease. Patrons who order a chicken 
sandwich to avoid cholesterol may instead get 
fat and cholesterol equal to 1 1 pats of butter. 
Fast food patrons are also exposed to artificial 
preservatives and to suspect food colorings. 
Small wonder that the major fast food chains 
prefer not to disclose their recipes. 

The center has petitioned the Food and 


Drug Administration to apply the federal in- 
gredient label law to last food chains. Their 
legal argument is that fast food outlets are less 
like conventional restaurants and mors like 
retailers of standardized products, “packaged” 
because they are sold in wrappers. 

The industry recognizes health concerns; 
witness die recent proliferation of salad bars. 
Yet it resists disclosure. The National Restau- 
rant Association contends that Hating the in- 
gredients on fast food wrappers or menus 
would casue “undue anxiety” among patrons; 
it suggests that people with food allergies or 
other dietary concerns write to the food com- 
panies to obtain specific inf armation. If forced 
to disclose, outlets surety would start compet- 
ing on the basis erf content as wdl as taste. Fast 
food need not hide behind slow facts. 

— THE NEW YORK TIMES. 


Other Opinion 


A Vicious South African Circle 

The dilemma of the South African authori- 
ties as they contemplate the spirited resistance 
of a woman they regard as a revolutionary 
termagant is exquisite, even though the con- 
sequences for her are nothing of the sort. If 
they leave her alone, as they did until the 
weekend, Winnie Mandela seizes every chance 
to preach the demolition of apartheid; if they 
lock her up, her hard-earned status as an 
African heroine is automatically enhanced. 


While oppression leads to blade revolt to 
which the only answer is more oppression. Just 
as the blacks have shown they can maintain 
resistance indefinitely, so the whites set out to 
show they can contain it The rogue dement in 
the equation is (he serious effect of the unrest 
on the economy, which may yet prove unwork- 
able under apartheid. The arrest of Wuutie 
Mandela is exactly the kind of encouragement 
protesters at home and abroad need to sustain 
their ca m paign for more sanctions. 

— The Guardian (London). 


FROM OUR DEC 24 PAGES, 75 AND 50 YEARS AGO 


1910: Carnegie Endows a Peace Fund 
NEW YORK — The New York Tribune says: 
“Andrew Carnegie's gift [of S10 million] for 
the promotion of peace will provoke more 
admiration and gratitude than surprise. The 
magnitude of his public benefactions long ago 
exhausted the world’s sense of wonder at any- 
thing of the sort which he might da The 
passionate devotion to iremc propaganda 
which he has displayed gave a strong color of 
likelihood to the rumors which arose some 
days ago concerning precisely the thing which 
occurred [cm Dec. 14]. Nevertheless, ‘age can- 
not wither nor custom stale’ the magnitude 
and variety of the uses to which Mr. Carnegie 
puts the fortune which his industry, enterprise 
and shrewdness have amassed, and each new 
gift of millions reinspires the sentiments of 
appreciation which the first aroused.” 


1935: Why Not Christmas All Year? 

PARIS —The popcorn merchant stood in his 

booth in iheBnulewwl rfai frig r adiant 

face lighted by an artificial gas lamp, and 
shouted his wares to the pasting Christmas 
crowds. In the booth to Ins right, a gentleman 
with a glib tongue was selling an oyster opener. 
The gentleman in the next shanty was selling a 
straight razor that never wore ooL The Christ- 
mas crowd surged on. The sah-water taffy man 
was admired for the ease with which he wound 
figure rights with his candy. His while apron 
and white hat set off a huge, carrot-like face. 
The big department stores with their displays 
were jammed inside and ran. Children tried to 
size up everything in erne sweeping glance and 
gave. up. Maybe some of them wondered why 
Christmas could not be divided up and spread 
over the whole year. 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY, Chairman 19581992 

KATHARINE GRAHAM, WILLIAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Charnnea 


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


LEE W. HUEBNER, Pubiaker 

Executive Editor RENE BQNDY Deputy Pub&her 

Editor ALAIN LECOUR Associate Pubiaker 

Deputy Editor RICH ARD H. MORGAN Associate Publisher 

Deputy Editor STEPHAN W. CONAWAY Director of Operations 

Assoaae Editor FRANCOIS DESMAISONS Director of Gradation 

ROLF D. KRANEPUHL Dtrearr cf Admr un t g Saks 
International Herald Tribune, 181 Avenue Charies-deGanlle, 92200 Naufly-air-Srinc. 

France. Tel: (I) 47.47.1165. Telex: 612718 (Herald). Cables Herald Paris. ISSN: Q294-80S2. 

Dmcteur de la publication: Walter N. Thayer. 

Managing Dr. Asia; Mabxhn Glam. 24-34 Homes)- Rd, Hong Kang TA 5285613 Tdet 61170. 

Managing Dir. U.K. Rohm MxJGchm 63 Long Am. London WCZ Td 8364901 Tdcx 263000. 

On M&. W. German: W. baaabadi, Friedridatr. 15. 6000Fradfun/M Td. (099)726755. Tbc 416721. 

S.A. tut capital de f.200.000 F. RCS Nantene B 73202112b. Commission Paritmre No. 61337. 

U.S. subscription: $322 yearly. Second-class postage paid at Long Wand City, N-Y. I HOI. 

9 1985 International Herald Tribune. All ngka reserved 



TUESDAY-WEDNESDAY, DECEMBER 24-25, 1985 


The World Owes Cambodia a Settlement 


W ASHINGTON — Last year’s Christinas 
gift to the Cambodian people was a Viet- 
namese offensive launched on Dec. 25 against 
four rebel camps made Cambodia. More than 
120.000 armed rebels and civilians were driven 
into Thailand w further swdl the rriugee popula- 
tion, now more than 250,000, and tens of thou- 
sands of Vietnamese troops were deployed along 
the border to prevent any return. 

This Christmas an international effort should 
be made to bring peace to a people who have 
suffered more in recent years than any on the 
face of the Earth. Chances of success are not 
great. Too many powers with diverging interests 
continue to play a role in Cambodia. But because 
of changes during the past year there may be an 


Seasoned Cambodia watchers report that Viet- 
nam now feels more confident about its position 
inside Cambodia than at any time' since the 
original invasion in 1978. Although opposition to 
the Vietnamese occupation remains as strong at 
the United Nations as ever, the Vietnamese are 
succeeding in establishing a structure inside 
Cambodia that is steadily a firming the functions 
of government. Cambodian troops have taken 
over security functions from the Vietnamese at 
key bridges and at banks. Progress has been 
made in delivering health and education services 
to the people. The regime, which receives passive 
support, has given the people the most benign 
government, despite highly repressive features, 
that they have had since the first days of the Lon 
Nol government in the early 1970s. 

Externally the security situation has also im- 
proved. China failed to respond to last year’s 
Vietnamese offensive, saying that its economic 
modernization program was more important 
rH«n teaching Vietnam a “second lesson.” The 
Cambodian resistance movement is now in polit- 
ical disarray, squabbling among the txni-Com- 
munist leaders prevents an effective counter- 
stroke. In August the Vietnamese felt sufficiently 
secure to announce, finally, a date of withdrawal 
(1990), with an offer to withdraw earlier if a 
political settlement can be readied that involves 
the elimina tion of the “Pol Pot clique.” 

Yet, despite developments favorable to Viet- 
nam, Hanm may be willing to make some signifi- 
cant compromises to get a political settlement. 
The Pol Pot forces inside Thailand number 
30,000 to 40,000 and the border is hard to secure. 
Communist officials in the area acknowledge 
privately that even though the horrible record of 
the Khmer Rouge in power represents a powerful 
source of support to the Vietnamese-backed au- 
thorities in Phnom P enh, Pol Pot’s appeal to 
Cambodian nationalism continues to draw ra- 
tion. Westerurid^wtvkmln Cambodia confirm 
that the people remain very suspicious of die 
Vietnamese and that even the authorities, seen in 
the West as mere puppets of Hanoi, suspect 
Hand’s intentions. Another advantage for Ha- 
nd of a political settlement would be an end to 
Chines e pressure on Vietnam from die north, 
and a renewal of economic ties with the United 
States and other Western countries. 

What stands in the way of progress? There 
appear to be three main factors: traditional Viet- 
namese-Tbai struggles for do minance in Cambo- 
dia, and the failures by China to play a positive 
role and by America to play an active rale. 

Thai and Vietnamese armies have been invad- 
ing Cambodia for centuries. A Vietnamese em- 
peror compared Cambodia to a child with a 
Vie tnamese mother and a Thai father. About the 
same time a Thai king wrote: “The Cambodians 
always fight among themselves in the matter of 
succession. The losers in these fights go off to ask 
for bdp from a neighboring stare; the winner 
must then ask for forces from the other.” 

In early December a Washington-based think 
tank, the Center for International Pobcy, orga- 
nized a meeting in Beflagio, Italy, that brought 
together for the first tune in five years senior 
Vi etnamese and Thai officials to discuss the 
■Cambodian issue. It was dear from those ex- 


By Charles William Maynes 

chang es that this ancient struggle for influence 
in the buffer state continues. 

The Thais are determined to gain a govern- 
ment in Cambodia more independent front Viet- 
nam than die results of the Vietnam War left in 
J jo s. They also need a solution that wiD per- 
suade the 250,000 Cambodians, including Pol 
Pot’s fighters, to go home. 

The Vietnamese are determined to preserve a 
government closely aligned with Hanoi. They 
have established a sort of Ho Chi Mmh doctrine, 
under which they will use military force to pre- 
vent the arrival m power of any government in 
Phnom Penh hostile to Vietnam. In their mind 
tbc centuries-old struggle is over: Cambodia now 
belongs forever in Vietnam’s orbiL 
fhmfl and the United States are the keys to 
any movement away from the current stalemate. 
For T hailand cannot act without the agreement 
of Otina, which, if aroused, could reopen chan- 
nels of support for the Thai Communist Party, 
always oriented toward Beijing. And the United 
States is critical to a more constructive rede in 
Indo china by the Soviet Union, which in turn 
might influence Vietnam toward compromise. 
At the warring in Italy, Soviet representatives 

S ve the impressi on of flexibility. They suggested 
it in a political settlement the new Cambodia 
could have more than one political party. They 
in d ic ted that taiw amnng the Cambodians 
might take place under new constitutional aus- 
pices. And they put forward the idea of a freeze 
in the mili tary position of both superpowers in 
Southeast Asia. According to Soviets present, 
movement on the Cambodian issue could assist 
the overall relationship between Moscow and 
Washington because it would represent a success 
Tor those favoring a relaxation in tensions. 

What should be done at this point? The United 


States, for one, needs to take a more active role w 
the area. Some years ago a senior State Depart- 
ment official described the U.S. position this 
way: "We follow the ASEAN states politically: 
WC follow China militarily; and we then turn to 
the Congress to pay for the refugees from Cam- 
bodia that end up in Thailand-” 

Washington should seize the current opportu- 
nity to explore with China and the Soviet Union 
the prospects for a compromise solution that 
would meet Vietnamese security concerns, allow 
enough participation of the resistance in a future 
rat nhnH«»i government to encourage the refu- 
gees in Thailand to go home, and reassure Thai- 
land about its future security. 

One msgor problem is obviously the future of 
Pol Pot and bis movement. Cabinet officials in 
Phnom Penh have suggested that only a handful 
of officials in the Khmer Rouge would be barred 
from returning to Cambodia. Soviet officials at 
the meeting in Italy talked of hundreds who 
would have to be purged. Obviously, the issue of 
justice aside, a massive purge of the Khmer 
Rouge will pose an insurmountable obstacle to a 
finafsettlemeat. It is as if the allied armies in 
1945 had been unable to destroy the Nazi war 
machine and the only way to stop the fighting 
was through negotiations. Pol Pot and the leaders 
most responsible for the massacres by the Khmer 
Rouge must be barred from further participation 
in Guribodia’s politics. But (he bulk of the 
Khmer Rouge must unfortunately be party to the 
final agreement or there win be no agreement. 

A ggitipnvnt scenario seems fanciful- But the 
world, which has done so much to harm Cambo- 
dia, owes that small country a maximum effort to 
the current moment and end the bloodshed 
once and for afl. Washington should not allow its 
understandable desire to avoid taking on one 
more insurmountable problem to prevent it from 
making that effort this coming year. 

C 1985 Charles William Maynes. 


Notes: Cambodia Wasn’t Invited 


B ELLAGIO, Italy — In the 
second week of my stay at 
Befiagjo as a scholar in resi- 
dence, I am surprised to find 
myself in the middle of an inter- 
national conference on Cambo- 
dia. We are all housed together 
in the Villa Serbelloai, a retreat 
supported by the Rockefeller 
Foundation. The setting could 
not be more beautiful — over- 
looking I -aka Como and Lake 
Lecco, surrounded by the snow- 
capped Alpine peaks. Nor 
could the accommodations be 
more conducive to intellectual 
stimulation — comfortable 
rooms, excellent meals, conviv- 
ial and interesting company. 
The arrival of the conferees in 
our midst has dandled my at- 
tention from my work review- 
ing studies on the effectiveness 
of bilingual education. 

Cambodia has not been invit- 
ed. farina refused to attend at 
the last minute. There is not one 
woman in this gathering in any 
capacity. There are representa- 
tives of the foreign ministries of 
most of the ASEAN countries, 
and from Laos, Vietnam, India, 
Japan, France, Canada, Austra- 
lia and the Soviet Union. There 
are American academics and 
political journalists. 

A Japanese gentleman offers 
a football metaphor. Vietnam 
and ASEAN are on the field. 


By Rosalie Porter 


willing to {day. The coaches 
(US. and Soviet) are not coach- 
ing their teams. Spectators (oth- 
er nations in the region) urge 
the teams to get on with it 
Someone quips that Japan is up 
in the stands seDmg popcorn. 

The Russians say they are 
moving toward a normalization 
of relations with China but it 
■wiU not be at the expense of 
their friends. A high Vietnam- 
ese offical says that he consid- 
ers China not to be a socialist 
country. Representatives of the 
ASEAN group seem to be fairly 
in agreement that the United 
Stales must get over its “post- 
Vietnam syndrome” and start 
taking an active role. 

Thor are sharp exchanges 
between Americans andtne 

Russian s mil V Wnamem ahpiit 

Soviet bases in Vietnam. An 
Australian presents a moderate 
view of Vietnam as a nation 
mostly concerned with expand- 
ing its trade. The conference is 
not bemg recorded so there will 
be no official transcript. People 
are probably more candid than 
they would be at an official ne- 
gotiating session. There are hu- 
morous exchanges. The tone is 
civil, even friendly. 

I am strode fay the absence of 


Camb odians. No one dwells on 
the effect of the war in human 
terms and what it will mean in 
lives wasted if it goes on for 
one, two, five more years. Tins 
reserve seems to be a require- 
ment of sensitive diplomacy. . 

The incongruity of it all 
strikes me in the middle of an 
afternoon session. We are sit- 
ting in a beautifully propor- 
tioned room with tail French 
windows framing the usual 
mountain view plus lake; one 
wall bws a magnificent marble 
fireplace; giant tapestries de- 
pict country scenes. Twenty- 
seven men sit around the long 
table, some yawning, some 
/-hurting, some dozing. (The 
Vietnamese always sit apart, 
backs to the wafl.) The Russians 
drone on about their desire for 
friendship with all Southeast 
Asian peoples . . . 

The stated objective of the 
conference is “to encourage di- 
alogue among the participants 
and deepen their understanding 
of the different viewpoints in 
the conflict.” (hie hopes h wiU 
makes difference. 


The miter, a member of the 
U.S. National Council on Bilin- 
gual E du c ati on, observed the Bd- 
lagio conference tins month and 
contributed these notes to the In- 
ternational Herald Tribune. 


Matthew Seems to Have Had a Worldly Ax to Grind 


W ASHINGTON — If yon are 
interested in die earliest ideas 
about Christmas, you must sooner or 
later cope with the Gospel according 
to Matthew. And that is a chaT ~ 


By Edwin M. ; Yoder Jr. 


Luke’s, the other version erf 
Christmas story, is poetic in sub- 
stance and urbane in the tuning It 
features angd choirs, astonished 
shepherds ana country landscapes il- 
luminated by heavenly light The 
tone is mriversaL Matthew’s version, 
although possibly olds; suffers by 
comparison. It is parochial, prosaic 
and busmessfike. die tone set by a 
sttqidymgsetofgeaealogicallists.lt 
is as if Matthew had been, among 
other things, the Debrctt of his day. 

Tbe cemeqriece of Matthew’s birth 
narrative, moreover, is royal political 
intrigue. No sooner do the Magi 
make their appearance, following the 
star to Bethlehem, rtnw they — 
the story — become involved with the 
devious King Herod. Elsewhere Her- 
od is depicted as a civilized young 
man, educated at the Roman court. 
Here Ik is a bloodthirsty baby-JdBer, 
alarmed that an obscure peasant 
child may supplant him. 

His bkxxDust is responsible for the 
otherwise inexplicable flight of the 
Holy Family to Egypt. The stray of 
that refuge m Egypt is otherwise un- 
known. Like so many of the stories 


Matthew teOs, it may be designed 
only to give the birth stony Mosaic 
roots and suggest the fulfillment of 
obscure Old Testament prophecy. 

Matthew, in short, is among the 
earliest known storytellers whose 
narrative sense is often strained by 
polemical purpose. Does he have a 
hidden agenda? His ultimate pur- 
pose, in addition to proclaiming good 
news, seems to be to accentnate the 
tragic rupture between Judaic history 
and the Christian departure from it, 
and to brand one side as willfully 



Nicola PakmMka. 


resistant to the light. There are signs 
that he had an especially bitter quar- 
rel with the Judaic orthodoxy of his 
day, a quarrel that goes beyond the 
dispute over messiamsm. 

Even an amateur reader can get the 
drift of bis special pleading: a con- 
stant effort to demonstrate dose con- 
nections between the ministry of Je- 
-Sus and Old Testament prophecy. 

The aim is apparently to suggest 
the errancy of other mtcpretations. 
Moreover, Matthew’s Lora is unchar- 
acteristically biting and acerbic in his 
retorts to the spokesmen of ortho- 
doxy, in a manner quite unparalleled 
in the other Gospels. 

This stark antithesis between the 
two great, traditions, Hebraic and 
Christian, is unappealing today — an 
element that Matthew imposed on 
the material he drew from Mark. 
Matthew lacks the subtlety and clar- 
ity — and charily — with which Paul 
pleads the same cause. Some would 
go so far as to identify this gospel as a 
significant historical source of mod- 
em anti-Semitism. That, considering 

its many s nhMfne and imiw ryal teach- 
ings, may be a bit unfair. But Mat- 
thew ultimately even goes to great 
lengths to minimize the legal respon- 
sibility of the Roman authorities in 


< 


the execution of Jesus, although they 
were, after all, in chaise. 

Perhaps none of this matters much 
now. Christmas is overwhelmingly 
commercial, even pagan; it leaves hi- 
de time for the contemplation of ori- 
gins. Maybe it was rarely modi else. 

In any case, Matthew’s claim to 
priority among the four Evangelists 
has been in question for more than a 
century. It was fust authoritatively 
doubted 150 years ago, in 1835. In 
most arrangements Matthew still is 
first by convention, bat it is now 
widely accepted that Mark came first 
and Matthew borrowed from Mm 

The traditional identification of 
the Gospel writer with the tax collec- 
tor and apostle Matthew is no longer 
tenable. Had Matthew the Evangelist 
bcdU a contemporary observer, his 
c hang es in Mark’s account would 
lock more like editing than error. 

The thirst of the present age has 
increasingly been for the recovery of 
apostolic purity of belief and custom, 
unalloyed by special pleading. For all 
Matthew's majestic touches (he is the 
source of the Sermon on the Mount) 
his approach is unsympathetic. Un- 
like Luke, he unwaruy ensnaried his 
proclamation of “peace an Earth 
among men of good wiD" with messi- 
anic politics and sectarianism. 

Washington post Writers Group. 


Superman 
Is a Goset 
Pragmatist 

By Philip Geyelin ; 

W ashington — “The prob- 
lem is that we’ve got a pea- 
dent that campaigns like Superman 
and lobbies like Cfot Kent. 

I wish I had said that or canid tell 
you who did (an unidentified coa- 
gresaonal aide quoted in The New 
York Times). But never mind, it’s the 
metaphor that matters. Taken in a 
general way (for “campaigns’* read 
Sfooks" and for “lobbies” read “per-, 
forms") it serves wonderfully weft. Ir -- 
explains not just the president’s han- 
dling of the tax-rcfonn crisis in the 

The show may not last, 
but you have to marveL 

House but also the particular nature 
of the Reagan presidency during 
most of the last five years. 

What we see is Superman jumping 
over the heads td Congress to the 
American people — soaring up, up in 
the public approval ratings measured 
by the polls. Look at hun up there 
promising a balanced budget, no lax 
increases, superior defense, an astro- 
dome against nuclear war. freedom: 
for freedom fighters and ail other* • 2 
good thin gs befitting Superman. 

But what we get is Clark Kent. 

When push conies to shove, at home 
or abroad, we get this decent, earnest 
fellow, fumbling in his grasp of the 
essentials of his Strategic Defense 
Initiative, or of arms control, or of 
other important foreign policies; un- 
able to maintain order in his own 
administration; embattled against 
congressional encroachments on his 
presidential power and perogatives. 

It was Ronald Reagan as Clark 
Kent who had to go hat-in-hand at 
the last minute to a caucus of his owe 
party on Capitol Hill in search of 
Republican support for an essentially 
Democratic version of the first big 
domestic order of business in his sec- 
ond term. Extraordinary exertion* 
were required to rescue from the* -j 
hands of his own party a program for 
which he had stumped the nation for 
much of this year while reaching new 
heights in public approval polls. It is 
this disconnection between populari- 
ty and effectiveness that makes the 
tax-reform voting a commentary rat 
the Reagan phenomenon. 

Tiy to imagin e another president 
in recent rimes who could stand so 
high in the ratings with only the bat- 
tle of Grenada to prove his’ mettle as 
a relentless resister of Communist 
expansion. Think of one who could 
stand tall while walking away from 
Lebanon after vowing to stay for as 
king as it took to safeguard Middle 
East peace and global security; who 
could promise “swift retribution" 
against terrorists, and do nothing. 

Granting the early successes in te-gf - 
vising spending priorities, diminish-' 
ing government activity and launch- 
ing a popular military buildap, you 
are still left with a record that few 
presidents could turn into a sweeping 
re-election triumph and top poQ rat- 
ings. By way of examples, we have the 
botches of the mining of Nicaraguan 
harbors, of the ceremonies at Bit- 
burg, of the European gas pipeline. 

President Reagan's Middle East 
peace initiative goes nowhere. His 
celebrated ^star wars" initiative con- 
founds policy-making on arms con- 
trol. No better than half a loaf from 
Congress has been the rule on aiding 
Nicaraguan “contras” and on the 
MX missile. He has caught himself 
up in the fiscal winding sheets of 
Gramm-Rudman's deficit controls. 

And then came the tax-reform tra- 
vails to compound the puzzlement of- _ 
even his own party stalwarts. “It’s "' ^ 

odd," says Senator Charles Grassley 
of Iowa, who thinks the president is 
too popular to be in a “lame-duck 
position.” Like other Republicans, 
he blames White House altitudes. 

“When they wanted us, they called. 

When we wanted them, they were 
generally too busy." He has a point. 
Arch-conservative ideologues, with 
whom this administration is richly 
endowed, are not good listeners and 
are not inclined to wheel and dml. 

But I like the Superman/ Clark 
Kent explanation the best Superman 
is for hard-core conservative specta- 
tors. The real Reagan is Clark Kent, 
a closet pragmatist 
The act may not work indefinitely. . . 

As time runs out on the second term, - 
Oark Kent may become less and less 
able to work the magic of Superman. 

But whatever you may think of the 
results, when you look at the record 
youhave to marvel at the way he has 
been able to work itfor so long. i 

Washington Post Writers Group. I 


Wise Men Don’t Discourage Young Dreams 


N EW YORK — Our Christmas 
celebrations have been quieter 
in recent years, and I find that most 
of my friends are planning less fren- 
ried holidays. Our choice of tranquil- 
lity is undoubtedly the effect of age, 
for holidays reflect each mdmduars 
place in Shakespeare’s famous seven 
ages of man, from infancy to dotage. 

To be sure, there are variations of 
custom and climate, but although my 
childhood Christmases brought sleds 
and ice ] am certain that chil- 
dren whose Christmases brought surf 
boards and snorkels share my mix- 
ture of anticipation, awe, excitement 
and (it most be confessed) greed. 

I remember, too, the Christmases 
of my college years, embedded in a 
blur of dances and parties aod excur- 
sions, a gaiety only slightly overcast 
by research papers assigned as vaca- 
tion tasks, perhaps in memory of 
Scrooge. Recalling the energy of 
one’s youth is astonishing when one 
also remembers that all that was ex- 
haustion was thought of as pleasure. 
This past year, I came across some 
of my old college notebooks, and 
looldngmto them reminded me of the 
expectations I had cherished for the 
world in those years: the spread and 


By Naomi Blrven experiences inclines me to trust the Publicity for Terrorists 

* n^ninn^iirttNi /if f liwnfiv iaa 


perfection of parliamentary democ- 
racy and tbe increasing enrichment of 
American culture. Considering, that 
what we have at the end of 1985 is 
terrorism and rock music, those 
hopes appear more extravagant titan 
any fantasy I cherished about an im- 
plausibly lavish Christinas present. 

At toe approach of Christmas 
1985, the world perplexes me, and 
I must admit I have Seen asking my- 
self whether I have the right to be 
disappointed if my hopes were — and 
are, for I still long fra; those things — 
naive. Nonetheless I found ntysdf, 
last Jane, disagrering withacompan- 
ion. I argued that we who are older 
bad a duty to encourage the young 
and not to disparage their generous 
virions even if we thought them un- 
realistic. He felt it was our duty to 
share the wisdom or sophistication of 
disappointment even at the risk of 
tainting young people’s dreams. 

Is discouragement wiser or more, 
sophisticated man hope? Asking that 
question, I suppose, is a way of ask- 
ing if Christmas is real, for Christmas 
is about hope. This fall, a pair of. 


On the weekend after hurricane 
. Gloria I drove the length of New 
York’s Long Island and saw,' coming 
and going, 240 mQes of blasted trees 
whose noble forms, twisted and dis- 
torted, lay along and in some cases 
across the roads, looking like the 
wreckage of CLvifoatkxi itself in the 
aftermath erf barbarian invasion. The 
Mowing week, though, I went up to 
the mountains to write an article 
about an arboretum and wandered 
around a field and a nursery where 
saplings and seedlings were bring 
prepared for the winter. Thee young 
plants looked tentative, and they 
faced a testing season, bat past etpe- 
rience suggested they would survive. 

If one week I observed the tragic 
grandeur of endings, the following 
week I saw the beguiling beauty erf 
b eg i nning s. This week, my memory 
of "those seedlings, which by now are 
buried in snow, tells me that it a wise 
to hope and by no means naive to 
celebrate Christinas. . 

Naomi Bkven is a staff writer far 
The New Yorker. She contributed this 
comment to The New. York Times. 


LETTERS TO THE EDITOR 

they seek to teach terrorist groups 
that atrocities wfll not achieve t h™* 
groups" ends — whichindudc public- 
ity for themselves or their qpnaee. 
You should change your policy and 
take the lead in withholding the 
names of tbe perpetrators, real or 
purported, erf afl terrorist acts. 


An article at the top of your Dec. 
14 frontpage under tbe headline “Air 
Crash Clues -Are Examined," con- 
cerning die crash of an ai rljmy jg 
Newfoundland in winch 248 Ameri- 
can soldiers and eight crew members 
were killed, reported that an anony- 
mous caller to a news agency in Be- 
rut claimed that his group — whose 
name you provide — set a bomb 
causing the crash. 1 hope you have 
received a letter of thanks from the 
extremist group in guesdon. With a 
mere telephone call it has once again 
obtained international publicity. 

Some of our political leaders are 
trying to take a hard-line stance 
ag a in s t terrorism, which means as- 
suming the tremendous responsibil- 
ity of seeing loss of innocent fives as 


_ J „ . . GUY PARKER. 
Bad RachoihaU, West Ge rman y. 

A Write-Up (or Thieves 

After traveling for five weeks 
through Asian countries in which the 
theft of anobjects and the mutilation 
of historical momamats are prob- 
icffls of the highest nogEdtud^ [ was 


V 


Letters attended for publication 

Should be addressed “Letters 1o the 

Editor^ and must contain the writ- 
er's signature, name and full ad- 
dress. Letters should be brief and 
are subject to editing We cannot 
be responsible far the return of 
unsolicited manuscripts. 


to read the report you 
“Shed about art thefts C'Arfs £ 
Attraction for Thieves,” Nc 
The tone of breathless exriu 
used by the writer to recount ii 
tent thefts of ait from museum 
pnvate collections was unconst 
bit The subtitle; “Steating a M, 

piece Can Bring Wealth, or A tie 

tor a Cause," was repugnant, 
MARTIN LERN1 
Curator of Ind 
and Southeast Asian 7 
The Metropolitan Museum of / 
New Yc 





INTERNATIONAL HERALD TRIBUNE, TUESDAY-WEDNESDAY, DECEMBER 34-25, 1985 


Page 7 


ARTS /LEISURE 


ezmen 



By Michael Zwerin . 

International Herald Tribune 

' ■) ARIS — Klezmer is both the 
'^Yiddish sane for a type of nm- 
' b and for a musician who plays h. 

refers to a 400-year-old Eastern 
voropean tradition' that inum- 
-ants took to America, where it 
v .me in resemble a mixture of dix- 
Iflnrf, Gypsy rhapsodies, plaintive 
OT ymian debug and a soundtrack 
..•r a Betty Boop cartoon. It 
. ached its peak in the 1920s. 

The Kkzmorim — for the plural 
klezmer — are six young must- 
. ms from Berkeley, California, 
^ao are reviving it. Their third al- 
. an, “Metropolis,” was nominated 
r a Grammy award in 1981. They 
led Carnegie Hall twice in one 
- iy in 1983. They have just re- 
■ jsed their fourth album, “Klez- 

orim,” which they were promot- 
g in Europe. 

The founder and saxophonist, 
' sv Liberman: “in the early 70s, I 
fsn to realize that much of the 
1 use 1 Heed — Gershwin, Kurt 
' 'em and Prokofiev, for example 
tod a common denominator I 
add not quite put my finger on. It 

1 as a sort of mussing link. Musicol- 
rjsts toid me about a Yiddish 
• mn of improvised instrumental 
usic that had flourished around 
-je turn of the century in Odessa, 
dessa is kind of the New Orleans 
'klezmer.” 

TT* trombonist, Kevin Linscott: 
There woe almost no references 
j it inhistory books. Hie tradition 
'id been passed down by ear by 
avefog piitsidans who could not 
•ad music." 

The percussionist, Ken Berg- 
jum: “There wens klezmer bands 
. Toronto, Mexico City and New 
ode as well as Eastern Europe, 
hen the Nazis came to power, 
migration slowed down, there 


was the depression, and jazz fin- . 
felted it off" 

Linscou; “ As the immigrants be- 
gan to be assimilated, all die hot 
players were into jazz. People like 
Benny Goodman and Ziggy Elman 
started off as Idezmm, and you can 
hear same hip klezmer quotes in 
Artie Shaw's ‘Dr. Livingston I Pre- 
sume.* The spirit is very jamilnr to 
New Orleans jazz. They are both 
daitce music played in the street 
with collective improvising on ba- 
sic thanes over a free-wheeling 
rhythmic backup.** 

Ber gmamu “Do yon know the 
Dirty Dozen Brass Band? These 
eight young blade, guys are reviving 
New Orleans parade bands. 
They’re kind of like us/* * 

Toe Kkzmorim are bright and 
cheerful disciples convened from 
other disciplines who make a full- 
time living following thdr faith. 

Not aH are Jewish, though the three . 
quoted here connected the subject 
with collective messianic fervor. 
“In the beginning was the sax,” 
said Libennann, langhing “and 
man blew it And it was good. 

“After a lot of false starts and 
misleading information," he con- 
tinued, “I stumbled upon a box of 
old 78 rpm records in a Tmutenm 
There were no directions how to 
play this muse. It was considered 

lowclass, proletarian, histo rians 

gave it scant reference. A guy 
named Joseph Chetmavsky.he was 
a sort of klezmer Paul Whiteman, 
had a big band with nwntiraang who 
could read and play classical music 
as well We met nis sot, who told os 
that Chemiavsky knew both El- 
lington and Prokofiev and that he 
had supplied them with some tradi- 
tional Hwmw thprrn >3 We up-dat- 
ed the old repertoire with tunes like 
Ellington’s The Mooche’ and 
‘Song of the Medina* by Sidney 
Bechet” 



Pollack, 9 s Elaborate 'Out of Africa J ; 
Perfect for the National Geographic 


The Klezmorim: A 400-year-old tradition and Betty Boop. 


Linscott: “A few okl guys went 
on performing after the ’30s, but 
not part of an ensemble. It was all 
mixed up with cocktail piano and 
society dance music. Imagine Bix 
Beiderbecke playing with Law- 
rence Weflc.” 

Liberman: “The guy we like 
most was named Naftnle Brand- 
wine, who came to New York from 
Galicia in Poland in 1913. He was 
featured clarinetist with many 
klezmer ensembles and recorded 
under his own and assumed names. 
He was a brilliant improviser and 
songwriter. You could call him the 
Charlie Parker of ifaiwr — a ge- 


nius, a heavy drinker, off in his own 
world. He was still being trotted 
out in the ’50s, Hke Bunk Johnson 
around the rim^ back e d by 
guys working their way through 
college. Time had passed him by. It 
was pitifuL” 

Linscott: “Some at those Irids 
who played with him — they are 
middle-aged now — told os Brand- 
wine was always yelling at than. 
The chords do not change when 
you expect them to and there are 
strict melodic and omamentational 
rules. It’s much more complex than 
you’d imagine. We’ve each spent 
thousands of hours listening to ev^ 


kOONESBURY 


r <naa 


smcHUHo* nom 

fflASMB&f 60051 

mmc£.z! 


\jr ryTf 

JUMPIN' 

JDPHPU& 

Genre 

cFzr-irx SQUIRS-l 



ABSOUmX! JSSSJSit 
pnospBurf Gocppeopiet 


I70LP 
xx/feP 
eeire 
s/mctP- 
\ 


ALSCWJnNPOOiM/ 

BEP.MAkB-mFffe, 

ANP5HOOTA0RACG 

CF<MLRX.mBU 


t&ty 

GOCP„ 

5K! 



cry record we coaid get our bands 
ou to figure out how the ensembles 
worked.” 

Liberman: “In the early days the 

rnrnt riing mrapantwa would release 

the same record under three or four 
different names. They viewed Eu- 
ropean cultures as interchangeable. 
By changing the labels they could 
oil the records to more thun one 
efhnir. group.” 

Linscott: “We know for a fact 
that there were Irish, Polish. Greek 
and Italian klezmer players. And to 
get a gig or be ‘faishionable,’ 
klezmer bands played with and 
sometimes represented themselves 
as Gypsies. They had a lot in com- 
mon — both were minorities who 
performed music for everyone 
else." 

Lib erman: “Our performances 
have an important visual aspect. 
If s based on old Betty Boop car- 
toons. There was a lot of surrealis- 
tic hnnw in those things We con- 
coct bizarre, often sarcastic, tales 
which we express with poetry, 
movement and costumes. Betty 
Boop cartoons used klezmer quota- 
tions, undoubtedly played by 
klezmer musicians who had gone 
into the studios. The images were in 
fact built around the music. Every- 
thing would be vibrating in time to 
the music — people, animals, walls, 
streets, cars, trees, fire hydrants. 
Thai’s how this music can be visu- 
alized — everything pulsating.” 


By Vincent Canby 

New York Times Sentce 

F ROM I913 to 1931, Karen 
Blixen, the Danish writer who 
was later to publish under the name 
of Isak Dinesen, ran a large coffee 
plantation in what is now Kenya. 
She had come to Africa to many 
the Swedish-born Baron Bror 
Blixen, her cousin as weD as the 
twin brother of Hans Blixen. who 
had jilted her. 

Bror and Karen were friends and 
occasional lovers, but he was an 
unashamed philanderer, something 
Karen seems to have accepte^umil 

MOVIE MARQUEE 

she contracted syphilis from him. 
They separated, and Karen devel- 
oped what seems to have been the 
most profound emotional attach- 
ment of her life with Denys Finch 
Hatton, a charming En glish aristo- 
crat who led safaris, dabbled in 
various business an d , from 
rime to lime, visited Karen on her 
farm, usually arriving unan- 
nounced and staying only as long 
as it suited him. 

This affair provides the elusive 
heart of Sydney Pollack's “Out of 
Africa,” a big, physically elaborate 
bat wispy movie. The screenplay by 
Kurt Lnedtke draws on Dinesen’s 
superlative memoir, “Out of Afri- 
ca,” and some of her other writings, 
as weQ as Judith 'Thurman's biogra- 
phy, Tsak Dinesen: The Life of a 
Storyteller” and Errol TizebmskTs 
biography of Finch Hatton, “Si- 
lence WiH Speak.” 

In Meryl Streep, the film has a 
Karen Blixen of sod) intelligence, 
intensity ant^ obsessiveness that 
you can believe she would one day 
be able to write the cool, dark, 
bewitching prose for wfakh she be- 
came known. You can also believe 
she would be most difficult to live 
with. Accompanied by family chi- 
na, crystal and silverware, she 
sweeps grandly into Africa as if 
entering a world created for her 
intellectual stimulation. speaks 
of native servants as “my Kiku- 
yus.” The plantation is “my f arm. " 
The continent is “my Africa." 

She eventually comes to under- 
stand, as Finch Hatton (Robert 
Redford) tells her, that “we’re not 
owners here, Karen. We’re just 
passing through.” Yet there re- 
mains the suspicion throughout the 
film, as wdl as in her writings, that 
Africa exists only as she perceives it 
— an exotic landscape designed to 
test her souL 

The film’s Karen is part Scarlett 
O’Hara fighting to save Tara, part 


insensitive tourisL None of ibis 
might matter if her affair with the 
supposedly dashing Denys made 
any sense. The character, as written 
by Luedtke and played in a laid- 
back, contemporary American 
manner by Redford, is a total ci- 
pher, and a charmless me at that 
There is far greater emotional rap- 
port between Karen and Bror 
Blixen, beautifully played by Klaus 
Maria Brandauer. 

With the exception of Streep's 
performance, the pleasures of “Out 
of Africa” are all peripheral — Da- 
vid Watkin's photography, the 
landscapes, the shots of animal life 
— and all of them would fit neatly 
into a National Geographic layout. 

(Paul Attanaao of The Washing- 
ton Post writes on “Out of Africa”: 
For Meiyl Streep, Blixen is just 
another exercise in pain and for- 
eign accents in a period setting. 
Last year’s country trilogy made 
The Strong Woman into a cliche 
Streep can’t escape, and. like the 
worst of those movies, “Out of Af- 
rica” is really an exercise in yuppie 
fantasy and liberal homiletics.) 


Capsule reviews of other films 
recently released in the United 
States: 

Attanasio on ‘The Color Pnr- 
pfc": 

There are plenty of reasons to 
applaud this film, among them the 
opportunity it affords black actors, 
who generally are ignored in Holly- 
wood, and the director Steven 
Spielberg who has never attempted 
anything quite Hke il But the actu- 
al movie is dull, maudlin and mis- 
conceived. 

Based on the novel by Alice 
Walker, The Color Purple" fol- 
lows Cette, a black woman in share- 
cropping Georgia, as she grows 
from a girl (Desrela Jackson) to a 
woman (Whoopi Goldberg), and 
from a kmd of personal slavery to 
independence and sdf-respecL The 

min shg rails Pa forces himcrlf 

open her when she’s barely into 

n d oV* y»*Ty»»_ thm cetln the ehit drm 

she bears him into adoption; he 
gives her away to the bully she calls 
amply “Mister” (Danny Glover), 
who beats Ccfie, insults her and 
bring? hb mistress, the torch singer 
Shug Avery (Margaret Avery), un- 
der the same roof. 

The novel doesn't immediately 
suggest itself for film adaptation; 
its structure is epistolary, consist- 
ing of letters from Cette to God, or 
between her and her sister. A great 
performer conld have conveyed Ce- 
tte's thoughts with an ex p ression or 


a gesture, since the role is mainly 
nonverbal, but Goldberg is no ac- 
tress. She is but essentially a down, 
with a down's range of emotion. 
“The Color Purple” might still have 
been bdd together with a director’s 
vision, but here Spielberg falls 
short. There's no intimacy, or sin- 
cerity, to the story. 

(But Janet Maslin of The New 
York Times writes: Spielberg has 
looked on the sunny side or Walk- 
er’s novel, fashioning a grand, 

multi-hanky entertainment that is 
as pretty and lavish as the book is 
plain. The film has a peculiar un- 
evenness and way of combining 
wild extremes. Some pans are rap- 
turous and stirring, others hugely 
improbable, and it moves unpre- 
dictabty from one to another. From, 
another director this might be fa- 
tally confusing, but Spielberg's 
showmanship is still with him. 
Goldberg is limited at fust, but 
eventually grows into a tremen- 
dously compelling figure.) 

□ 

Maslin on “Enemy Mine": 

This season's “Dune” is “Enemy 
Mine,” a costly, awful-looking sci- 
ence-fiction epic with one erf the 
weirdest story lines ever. The direc- 
tor, Wolfgang Peterson, certainly 
had a better fed for “Das Boot" 
than for this. Louis Gossett Jr. has 
what is unquestionably one of the 
mosL thankless roles in movie histo- 
ry. Not only does he spend the 
entire film wrapped in scales, but 
he must die in childbirth. "Enemy 
Mine" maroons Davidge (D ennis 
Quaid), a human from Earth, and 
Jeriba Shigan (Gossett), a Drac 
from Dracon, on a far-off planet. 
They eventually develop trust, re- 
spect and even love. Thai notwith- 
standing. Davidge is not responsi- 
ble for the small Draclet to which 
his friend gives birth; Jeriba Shi- 
gan, being a hermaphrodite, man- 
ages it all alone. 


NORMAN ). LAWRENCE 

STORE YOUR OLD 
FUR IN A NEW 
SILK RAINCOAT I 
Brochure on request 
k»417 Fifth Amh, NYC 10016—^ 



AUTHORS WANTED 
BY N.Y. PUBLISHER 

Loafing windy book publisher seeb manu- 
Knpb of id typos, fiction, noivfeian, poetry, 
juvonio. scholarly and refiffiou worta, etc. Now 
authors welcomed. Sand lor free booklet H-3 
Vaitoge Plea, 516 W. 34th St, Now York. N.Y. 
10001 LISA. 


THE HOMES OF 


ABC 


READERS 


READERS 


OTHER PRESS READERS 

me* 

REST OF 
PRESS % 




FREEZER, APART FROM REFRIGERATOR 

19 

17 

DISHWASHER 

46 

16, 

AIR CONDITIONING 

9 

4 i 

SOUND EQUIPMENT 

38 

28 9 

COLOUR TV 

87 

80 i 

VIDEO 

22 

16 ' 

PERSONAL COMPUTER 

12 

5 i 

SECOND DWELLING 

32 

16 1 



More information 
on our readers. 



BEMIERS TRAVE] 

AND ARE MORE SELECTIVE ABOUT 
THEIR TRANSPORTATION MEDIA 

L MORE 

SEADEBS 

me* 

REST OF 
PRESS % 


71 

N.° OF HOLIDAY TRIPS PER TEAR 

81 

ONE 

48 

38 

TWO 

19 

17 

THREE 

9 

8 

MORE THAN THREE 

11 

8 

HOLIDAY TRIPS Df SPAIN 

89 

78 

BY AIR 

1 

6 

PRIVATE CAR 

76 

70 

OTHER TRANSPORTATION MEDIA 

16 

24 

i HOLIDAY TRIPS ABROAD 

14 

9 

BY AIR 

50 

40 

PACKAGE DEAL 

41 

30 

BUSINESS TRIPS IN SPAIN (BY AIR) 

29 

13 


‘■wording la a survey conducted m February ''Man* 198S by CISE. Socioeconomic Researchers, within the ftamewcak of the Autonomous 
Munumry of Madrid. 


ABC. Prestigio de k Pimsa de Espafia. 


ABC; Madrid 's General Daily Morning Newspaper since 1905. 

Address.- Serrano,©! Tblephone: 435 31 00 Telex: 27682-27683 


Our exclusively-designed 
leather pocket diary 
is thin, flat and de«ant. 



No sooner was it introduced than 
everybody wanted one! 

Hie International Herald Tribune diary, 
started as a distinctive Christmas present for a 
few of our friends, was such a huge success that 
now we make it available to all our readers. 

This ingeniously designed diary is flat as 
can be — neat and luxurious — including a built- 
in notepad. Slips into your pocket without a 
bulge and is ready with instant “jotting" paper 
the second you need it Personalized with your 
initials (up to 3) at no extra cost The perfect 
Christmas gift for almost anyone... including 
yourself. 

— Note paper sheets are fitted on the back of the 
diary — a simple pull removes top sheet. 

— No curled up edges. No tom pages. 

— Comes with note paper refills. 

PLUS: Pages of useful information. 

Conversion tables of 
weights, measures and 
distances, a list of 
national holidays by 
country, vintage chart 
and other facts... all in 
this incredibly flat 
little book. 


— Gold metal comers 
— Plenty of space for appointments 

— Tabbed address section — Format 8x 1 3 cm (5Va X 3 in.) 

— Rich darie leather — Gold initials included 
— Note that quantity discounts are available. f( 

H|BB|||||||H|BIIIIHIIBIHIBiaiia itcralDci^enbunc. hi 

Return Order Form to: Paul Baker, Program Coordinator, Internationa] Herald Tribune 
c/o Dataday House, 8 Alexandra Road. London SW19 7JZ. England. 


Please check method of payment: 

Enclosed is ray check or money order fori 


□ 

□ 


made to the order of International Herald Tribune 

(Payment can b4 made in any convertible European currency ai current 
rummer ratal 

Please charge to □ Access nVisa nAmex 
my credit card: oEurocani □ Diners □ Mastercard 


Please send me 1986 IHT Pocket Diaries. 

Price indudes initials, packing and postage in Europe. 


1-4 

douin 

5A 

diaries 

1.0- j 9 
diaries 

US.J20ca* 

US. SI 9 each 

U&SISeadi 


Additional pouage 
OubadcEmpc 
US.S3ea± 


initials 

“Pjgjperdiarv 


Card No.. 


Name 

(IN BLOCK LETTERS] 

Address 


Fa-quanta ado*, 
ptasfusejejwaadnn. 


Exp. Date. 


Signature. 


City /Code . 


Country. 


24-12-35 


! 

1 

r 

i 

> 

t 

> 

k 

a 

t 


( 

I 

i 

« 

i 


I 

I 

v 


i. 


fr 

3 

I 

I 

n 


i 

e 

t 

n 

*i 

J 

i 

£ 


a 

3 

n 

a 

i 

n 

r 

i 

■* 

f 

c 

fc 




Page8 


INTERNATIONAL HERALD. TRIBUNE, TUESDAY-WEDNESDAY, DECEMBER 24-25, 1985 



Dow Jones Averages 


Indus 1537.22 1547JB2 151643 U2&7B- 1423 

Trans nvjs 71x31 msr mus— jjn 

um 17404 17470 172.14 17122— 1,74 

COW 614 M 417J 9 60S SB 41004— 431 


NYSE Diaries 


Dow Jones Bond Averages 


Bands 

Utilities 

industrial. 


Advanced 
DeeJlnod 
UnctianaMl 
Total issues 
New HtoW 
New Lems 
Volume up 
V olume down 


Close Pnnr. 

493 1IB2 
1200 574 

& JS 
” 14 5 

19.23X170 

77,9714100 


NYSE Index 


hwi Low don arte 
Composite 120*1 nw rami — ijo 
I ndus! rials uue 1374B 137,48 — lot 

Trans*. 11174 HIM 113413— \M 

Utilities 62J4 4149 0249 — 043 

Finance 130.12 T29JB 129*5 — 1J6 




Bay Sam *sWrt 

340,192 540,825 M04 

21X224 547431 9JSI 

21X477 5B4J95 SAM 

374842 4SXC9 M84 

335663 711444 4LS06 


■ Included m me BO to 


Monday 

N1SE 

Qoiig 


VM.0MPJM. M749MOO 

Pfw.0PJN.voL 17BJ7MH 

PrwooaMOddtdclOM 1BMM90 


ToMes inctodft ffte nattQnwUte prices 
dp to Hw ctaino on Wall Street mid 
ck> m»t reflect kite trades elMWtwre. 

Via The Associated Press 


AMEX Diaries 


Advanced 
Declined 
Unchained 
Total Issue* 
New Hlnhs 
New Lows 
volume us> 
Votumedewn 


293 317 

238 2§ 

■s •s 

U 11 

imihB 
A-IBOLOIO 


Standard & Poors Index 


HU Law OOM ctrtro 

Industrials 234.17 VLO 5H740 - Xg 

Tramp. 189JS2 187*8 18745 — U7 

Utemn 9346 92.10 92.17—1*9 

Flmnoe 3153 25.17 25.19—034 

Composite 21X94 HMM 20457 — 2*7 


NASDAQ index 


compasin 

Industrials 

Finance 

insurance 

Uflllttes 

Bonk* 

Trans. 


Weak 
i CAW Aw 

— 1*4 32114 
—2*6 329.93 
— 147 423J7 
— 113 384.94 
— 143 30025 
+ 142 34725 

— 126 296.90 


AMEX Sales 


4P4A.vahin)e 
Pnrv. 4 PM volume 
Prow. con*, voluma 



AMEX Stock Index 


men Lew aeu caw 

344J9 24X47 342.90 - 1-13 


High Low Stock 


Dlv.YkLPE HOs HW) Low OootOTgr 


NYSE Declines in Profit-Taking 



25V,— V6 
20H+ H 
11M — Vk 
37ft— ns 
2314 

. 24ft + ft 
ft 20ft 20ft 
ft lift lift + ft 
ft 16M 16ft + ft 
ft 33ft 33ft— ft 
4ft 14ft 

24ft— ft 
65% — ft 
ft 26ft + ft 
ft lift + ft 
ft 0V» + ft 
ft 19ft — ft 
21 — ft 
14ft + ft 
28ft— ft 
lift 

16ft + ft 
17» + ft 
13ft 

52 — ft 
44ft— ft 
2ft 

64ft— 1ft 
18ft 
1ft 

28ft + ft 
8ft 
Oft 
9016 

78ft— lft 
75ft— 1ft 
16ft— ft 
29ft— ft 
31ft + ft 
28ft— ft 
37ft— ft 
32ft— ft 
41 +1(4 

84ft 

24ft + 16 
1914— ft 
17 +16 

81ft +116 
3316 3316 — ft 
24 26 —ft 

23 23ft + ft 
46ft 44ft— ft 
Clft 61ft + 16 
09 10916 + Vk 

99ft lGfl 

47ft— ft 
4 

29ft +ft 
29ft— ft 
38ft— ft 
12ft— ft 
2916—16 
27ft + ft 
120 +116 


United Press International 

NEW YORK — Prices on the New York 
Slock Exchange fell in reduced volume Monday 
as investors took their profits after three months 
of steady gains. 

The Dow Jones industrial average, which was 
down about 18 points in the early afternoon, 
finished with a loss of 14.22 at 1,528.78, the 
largest loss since Dec. 2, when the Dow also fdl 
J4J22 points. 

Broader market indicators fe£L The New 
York Stock Exchange dropped 1 JO to 120.01. 
Standard & Poor’s 500-stock index lost about 
137 to 208-57. The price of an average share 
dropped 40 cents. 

Declining issues outpaced advances more 
than 2 to 1. Volume amounted to 107.89 million 
shares, compared with 170.27 millio n Friday. 

Analysts said the decline, although sharp, 
was a normal retreat after eight consecutive 
weeks of gains and an advance of nearly 250 
points over a three-month period. 

“Tie market was due for a pullback,” said 
Geoige Pirrone of Dreyfus Corp. He said prices 
would move down for a few days but climb 
early next year. Mr. Pirrone said losses from 
profit-taking could amount to another 20 or 30 
points on the Dow. 

Philip Roth, technical analyst at EP. Hutton, 
said that about 10 points of the loss on the Dow 
Monday was caused by an absence of buying 
pressure after Friday’s expiration of December 
stock-index futures and options. He said the 
rest of the loss occurred because some investors 
had expected the market to strengthen and sold. 

But be said selling would dry up by midday 
Tuesday. 


“The market is reacting to recent gams," he 
said. “It is still in good shape." 

Thomas Ryan Jr. of Kidder Peabody said 
that after its move up of nearly 250 points, the 
market was vulnerable to some profit-taking 
He said most investors who wanted to buy had ' 
done so already, earing buying pressure Also, 
the market’s focus has shifted to some of the 
negative aspects of the new U.S. tax ML 

“The market was ebullient when these devel- 
opments were just being discussed, but now 
people are looking at the drawbacks," Mr. Ryan 
said. 

AT&T was the most active NYSE-listed is- 
sue, easing ft to 24ft. 

Pfizer followed, falling 2ft to 50ft after a 
story in Sunday's London Observer referred to 
deaths in Britain allegedly attributable to 
Pfizer's anti-arthritic drag, Fddcne. 

Commonwealth Edison was third, un- 
changed at 29ft. 

Union Carbide fdl lft to 71ft. GAF Corp. 
was up ft to 64ft. 

Texaco lost ft to 30W. Pennzofl rose ft to 64ft. 

Auto issues weakened. General Motors fefi 
2ft to 71ft. Ford lost 2ft to 55ft. Chrysler 
declined ft to 44. 

In the technology sector, IBM eased ft to 
154ft. Digital Equipment lost ft to 130ft. Cray 

Research was down lft to 61. Burroughs fdl lft 
to 62ft. Honeywell lost lft to 76ft. 

Most semiconductor issues retreated. Texas 
Instruments lost lft to 104ft. Advanced Micro 
Devices fell ft to 28ft and National Semicon- 
ductor eased ft to 12ft. Motorola edged up ft to 
37ft. 





3L5 31 3M 
4.9 9 1547 

17 5 S 

27 32 

U 534x 

\J 72 
U 11 235 
TUB 20 412 
34 14 54 

7 7 

41 12 106 
23 27 3S0 

13 8 311 
17 U 390 
22 1746 



23 Hi 

12*6 MACOM 

24 

1.7 

15 

1823 

IS 

14 

1416 — 4 

54 fk 

25fe MCA 1 

M 

14 

32 

ISO 

5119 

49% 

50 —11 

24Va 

ia MCora 

1+0 

67 

7 

282 

7146 

am 

2046—46 

1446 

ID MDC 

36 

34 

8 

163 

un 

10fe 

Kjy,— w 

3946 

2K MDU 

X72 

69 

10 

31 

3914 

39% 

39% — % 

42V* 

3415 ME! 

JO 

13 

13 

742 

3816 

31 

38 —16 

1046 

1146 MGMGr 

M 

26 

34 

253 

17 

IM6 

17 

in 

11% MGMGr Pt44 

14 


3 

13 

13 

13 

27 

10 MGMUa 


* 


715 

3146 

« 

MM— » 

114* 

7% MGMuwt 



36 

814 

746 

8—16 

n 

446 ML Conv n20a 17 


332 

7V3 

746 

716 

1196 

1DV5 ML lac n 




152 

1T46 

11% 

1146— 16 

22% 

1246 MB LI a 

671 



23 

It 

1766 

IB + l*r 

3846 

life Moanls 

35 

15 

18 

U6 

36 

35% 

15*6 + 46 

65% 

30Vj Mecv 

1.16 

1J 

17 

5596 

6346 

62% 

6M— Hi. 

SSVr 

33fc MaolCI 

i.12e XI 

H 

14 J 

55 

54% 

5446—1 

27VS 

146 M81 Act 19,00c 



66 

3V. 

3V. 

316 + 16 



JTw 47V— % 
346k 34H + u 








































































prieB P.T 2 Paramo* noortt P.n 
■-. ' - x ugUMKD : RtBB «B7» «*"’ M* 
OoMmortMte £» 

;• , ii £mm"» w«- **«* "** p- * 
.' jij-dnd* P-M Warm s u mmary 9. ■ 
' ^^nda p-» Op«m PJO 

^'mShb- w0 0™** P.W 

■•• j”T- rw Our cartu P.M 


: 7ESPAY-VEPNESPAY, JJJbftJKMBJER 24-25, 1985^ 


Mcralb5s£Sribunc. 

BUSINESS / FINANCE 


U.S. Stocks 
Report, Page 8 

Page 9 



FUTURES AND OPTIONS 


Prices Expected 
o Languish Again in ’86 


> ONDON — Prospects for hitler nahrral rubber prices 
during the next year are not promising, according to the 
, International Rubber Study Group. In its latest report, 
the group said a slackening. in the rate of growth in the 
^ :i economy recently will have a dampening effect on the Kkely 
• .hand from many other rubber consuming countries. 

. - 'With the possible exception . of the Federal Republic of 
.. nnany and Fiance, industrialized countries are expected to 
w mor e slowly in 1986," it said. 

\ rhe high value of the dollar this year also has been a depressing 
l nfinence on prices, but of- . 


; al policies to attempt to re- •«, . in - , 

: * the dollar’s value should It 18 likely that 

.-‘t’lSMM Pri^wmamtinne 

when tbei socked Group tO languish at 

; . Five industrial countries ® 

- r -eed in New York to deval- enrrent low lw pJa. w 

• _ the dollar, the Ui. curren- . 

: has fallen about IS percent 
. ‘ unst the major world currencies. 

•- it added, however, that progress is likely to be offset by 
'ativdy high world capacity for natural rubber production and 
'"'Nfing prices for oil, the key ingredient in synthetic rubber. 
'^'otoU worldwide production of natural rubber is about 4 3 
-. IBon tons a year. 

"Provided that natural rubber production next year is normal 
. j not affected, for example; by abnormal weather conditi on s, it 

- fledy that prices will continue to languish at or near currently 
v levels," it added. 

Malaysian rubber for January, or spot, delivery traded Mon- 
: ,‘y at 81 j 6 cents a pound in Kuala Lumpur, down about 5 cents 
:_*n Friday. Prices have traded in the SO-to-85 cent range for 
ich of the year. 

; .At the same time, the study group added, the position and 
- ying policy of the International Natural Rubber Organization 

- v s to be considered. The INRO, an organization of the principal 
educing and consuming countries, manages world rubber 

j :tces by selling stocks from a central buffer stock when prices 
■t too high, or buying on world markets when prices get too low. 
The present international agreement, having been extended for 
. "o years, expires in October 1987. The outlook for a positive 
' - tame to negotiations far a second agreement, doe to 
.. ice next spring, is clouded, the study group added. 

X JobJessness Steady in November 

The Associated Press 

BRUSSELS — Unemployment in the European Community stood 

- 112 percent of the work force last month, unchangwl bum 
Sober, the EC Statistics Office said Monday. The rate compared 

. til 11.1 percent in November 1984. 

The number of registered unemployed edged up to 12.77 minio n 
a month from 12.71 million in October, the report said. 

- -The Statistics Office said the average number of jobless people in 
5 EC would be about 12.8 million for the year, up 3 percent from 

.84. 


Currency Rates 


MS Baton - . ' Dec 23 

S ■ Mi. V*. K4L GMT. BJF. *F. You 
Mm saw 4M1 lltus* 36J4S- 0.145* S5M* 005* UMOV 

nMi) sum tut m ue iws* tan — mjs jsjj* 

Uort UK UU XUD5* IM3SX BB7&5 * 4J71* 1WJ1" L3SK* 

MtU usa — isn lima uua -mu 7 xts iaas mm 

I . . IJWJI 14SU0 0035 22211 MUD 8X44S R4.TO Ifl 

YflfttQ 03013 » 1309 TM 171000 20255 SUM ZKJ VBM 

Hi M HUBS 20400 US> 1721 U9M* 1M7 1794* 

* 20270 20974 KJJO 24J0 11J** JU0 MSJM* 9595 — — 

R 1HS 20042 OS!* 27J4S* 11220* 74405* 4.W41 ■ } JOTS’ 

J U719 04099 2.1BJ 47101 149240 2449 444597 UJS7 T7459 

l 100049 074201 273207 237430 1«U0 30794 55*52 22941 220477 

nub London and Zurich, fixings hi other European centers. New York rotas of 4 PM. 
ommerda) franc (b) Amounts needed to bur one pound (c) Amounts needed to buy one 
•t’i umts ot we (kJ UnJtsoflMOfy ) Units a/HimriLQ.: not uuoted; HA.: notavaHotUe. 
’• boy oat pound: JOLS.1.4M 

wr BoOwr VsIbm 

' mar »ar OM Cummer w UJLS cuttmct m r Ui* Carrtn c r per uas 

imM QJO Rm.nwrtfcu 5495 Mrpw 440 00 Soviet rabla 07*42 

PLI 14*04 GrMkdnic. 15045 Marw.kroM 7JM ipwLmaetw 15440 

.PdPL 1747 HOBBKaaot 7400 PWLkw 1770 Santf.OmM 74925 

Ha.fr. 5142 Mmnme 12.195 Pact .asorta 14040 TahwmO 3949 

• erm. 94*540 IHa. r n pMl 1,12540 SMdlrtroi 3494 TfeOitaM 2*4*5 

0*9 139*1 MAC 042 SlM.0 Z1183 TMcUhllra 5*945 

it mm 32015 Israeli shak. 140040 aAfr.raad 24596 lUGOtan 34725 

Ifemw 9.119 Kuwaiti dim- 02907 S.Kor.woo 09242 WHT . IPfr. 147D 
.PPHtf 14* Ototay.rUw. 3433 

taiUTOBlrtanc 

»-■ Boooom do Benelux I Brunei*); Banco COmmerckdr Hattona IMUon); Btmouo No- 
■ r Or ports (Ports); Bank of TO*yo (Tokyo); IMF (SDR): BAH (dinar. rtyaLtHrtxsm); 
nfHruUe). Other data tom Reuters and AP. 


Interest Rates 


Swiss French __ 

Collar D-Mark Fmac StarflM Frww ECU SDH 
» M4M 45w5h 5-5V* llSk-110* 1Z1M33* 9V*4* 09k 

frs MM, 4Hh5 4V4Mi 11 9Vll 129W-1TH «MH 0 th 
* 7V8 41 tr5 4M4V 1134-1199 13V6-13* 0 

W 79M 41M 4HHVi 11*4-11 kh 1399-1319 9 Vk 9M 7%h 

7M6 4 9h-5 4V4-A9 11*9-11 9h 1MMH9 W»9 7** 

maroon Guaranty (denar. DM. SF. Pound. FF)i Lkrrds Bank (ECU): Reuters 
MkOMaAlt toMertrank deposits of SI mtlllon minimum (or eouhrutent). 


’ M — < y Wtmtem, 


Asian Dollar Deposits 


Mr MW dm 
lTrwaMrv BBS 


■MUM 

*1 

•UMwk 


719 719 

7% 7IS/U 

9V9 «U 

9 9 

775 770 

74* 749 

74« 740 

7J8 745 

740 740 


540 140 

470 5.10 

495 440 

US US 
US . 445 


K n * 
W. 9)9 
9 BI5/U 
9 9 

9T/U 91/1* 


I mudh 019 • BV, 

fmaarks 754-8 

lIMOlb] 799 -B 

tirnaan 799-0 

1 year 0-0)9 

Source: Reuters. 


UJS. Moae> Martel Fna* 

Dec. 23 

Mtmn Lvach Roodr Assets 
M day avereve yield: 74* 

TMernfe Interest Rate laddx: 7703 
Source: Merrill Lynch. Telerate. 


Gold 


MHMt 1IV1 lit) 

•» II 119. 

naanr uu u 7/32 u u/*4 
•“■Will IT 19/frd it 15/** 


Wi 5 5 

*7 799 THi 

7UH* 7WU 

Xeutn Commerzbank, CrAttt 
.Baa of Tokyo. 


rkets Closed 


Dec. 23 

AM. PM. erw 

HongKeo* 32S4D 33*40 -6045 

Leju-ilitimn‘0 mnw _ 4- IS) 

Ports (134 KIM 32*41 32744 4-320 

Zorich 32445 327 JH +140 

UDdoa 32575 32740 +205 

New York - 32S40 -aa 

Luxembourg. Parts and London ofBcta) fix- 
ings; Hong <ong and Zurich opening and 
cftnkw prices; New York Camex current 
contract. AH prfeta In U£- S per ounce. 
Source: Reuters. 


mse of »hf Cfrrisn nfls ho liday s, financial markets and banks will be 

T\ S > 1 *1 r_l. e-.l I T n iw .ihftiiHr 


sy other countries, mclnding Britain and France. Several U.S. 
xlity exchanges will be dosed half or all day. 

- Wednesday, markets and banks will be closed in the United States, 

n Europe, CsmnAn l South Africa and most of the Far East 
Yr, markets will be open in Rihry m , Saudi Arabia. Japan and 
ad. 

Ihaisday, mari/nc and hanks wfl] be closed in Australia, Bri tain , 
u. Canada. Hong Kong. Italy, Luxembourg, the Neth e rla n ds, 
Africa, Sweden, Switzerland and West Germany. 


Income, 
Spending 
Up in U.S. 

November Gains 
'Encouraging’ 

By Susan Trimel 

Untied Pros International 

WASHINGTON — Americans’ 

November, the HS pona in 

seven, months, wide their spending 
increased a sharp 0.9 percent, the 
government reported Monday. 

The November rebound was 
hkdy to lend atcouragement to 
tiuse locking for consumer spend- 
ing to gain strength during the im- 
portant Christmas selling season. 

Personal spending on both goods 
and services rose $22. 1 billion dur- 
ing November, the Commerce De- 
paiiment said, while revised figures 
showed October’s spemfing plum- 
meted 1.4 percent — the sharpest 
decline since May, I960, when 
spending fell by the same amount 

'These are quite encouraging 
figures,” said Sandra Shahpr of the 
Chase Econometrics forecasting 
firm. “It wasn’t very long ago that 
people were expecting consumer 
spending to crash.” 

The department said personal in- 
come rose S18J biHioQ last month, 
the sharpest gain since a 0.9-per- 
cent increase m ApriL Income rose 
by 0 J percent in October. 

After-tax bwnw rose. 0-5 per- 
cent in both November and Octo- 
ber. The savings rate — the per- 
centage of after-tax i«ie**me saved 
— was 4.2 percent daring Novem- 
ber while revised figures showed 
that the rate was 4_5 percent in 
October. 

Purchases erf durable goods — 
items expected to last at least three 
years — increased 2.1 percent after 
having dropped by 12 percent in 
October, revised figures showed. 
Most of that huge decline was the 
result of a drop in car sales. 

New-car sales increased modest- 
ly in November, Co mm erce said. 

Although analysts noted that the 
November increase stiD left spend- 
ing behind September’s level after 
October's big decline, they also 
said the upturn shows that consum- 
ers remain confident. 


A Power Is Felt in West Germany 

Some Criticize 


Deutsche Bank’s 
Wide Influence 

By Warren Geder 

International Herald Tribune 

FRANKFURT — Deutsche 
Bank AG’s decision to purchase 
and then resell the Flick indostri- 
al empire has left Gtlle doubt that 
the 'bank is much more *b»n 
West Germany's hugest private 
credit institution. It is, observers 
say, an extraordinarily inQoen- 
lial power broker of West Ger- 
man industry. 

“Seen objectively, Deutsche 
Bank has an extraordinary influ- 
ence on die economy,” said Otto 
Lambsdcrff, former West Ger- 
man eeeynnamcs. mmietw “That 
inflnaiceisseenindwMioaistak- 
en by industry, not the least of 
which concern pasaxmeL” 

' That power to make its inter- 
ests fdt over a broad swath of 

Watt fi ffman nwtmhy hw ipmTie 

some quarters in Boon, particu- 
larly the opposition benches, 
nervous. 

Uwe Jens, spokesman for the 
opposition Social Democrats* 
economic committee in parlia- 
ment, said: “Deutsche Bank to- 
day has more pom than the IG 
Fazben cnn^wiimte did in the 
period before the war — IG Far- 
ben was all-powerful in two con- 
centrated sectors, dwmiBik and 
pharmaceuticals, but Deutsche 
Bank exercises extensive influ- 
ence through its holdings in 40 or 
SO sectors of our economy.” 

F. Wflhefan Christians, co- 
chairman of Deutsche RanV re- 
jects wnwirimw that Deutsche 
Bank has the power to mold 
West German industry to its lik- 
ing. 

“Naturally we have power in 
the sesise of influence, but influ- 
ence is not evfl. When power is 
attributed to us, it is always 
linked to the abuse erf power,” 
Mr. Christians said in a televi- 
sion interview Mrtiw thi« month 

Under a “universal banking” 
system in force for more than a 
century, West German commer- 
cial banks are allowed to hold 
unlimited stakes in mdnrtriai 
concerns, underwrite and trade 
securities go their own account 
and play the foreign-currency 



. 

'"'V.V Si*:; 


Japan Forecasts 
4% Growth for 
Next Fiscal Year 


Deutsche Bank’s twin-tower headquarters in Frank- 
furt, that some have dubbed die Ttem,* or cathedral. 


marke ts — all in addition to ac- 
cepting deposits and providing 
credit. 

Deutsche Bank, me of Eu- 
rope's largest commercial banks 
with 1984 balance-sheet assets of 
2323 bflHm Deutsche marks 
(S93 billion), has wide-ranging 
minority interests in industry 

and hrilH* itifTwgn rial rtn |h e 

supervisory boards of Daimler- 
Benz, Volkswagen, Siemens, 
AEG, Thyssen, Bayer, Nixdoif 
and Allianz, among the stan- 
dard-bearers of the West Ger- 
man economy. 

In total, the bank has a voice 
on about 140 supervisory boards, 
the result of being either a major 
shareholder, as is the case with 
its 28.5-percent interest in Daim- 


ler, or the executor of proxy 
votes. Moreover, Deutsche Bank 
has been invited by scores of 
companies, snch as Swiutk and 

VW, to take seats on the supervi- 
sory board as financial adviser 

and, at lime* as provider and 
protector. 

“Many of our industrial hold- 
ings have emerged as a result of 
companies asking m to hrfp pro- 
tect them against the threat of 
takeovers by foreign interests,” 
said Rdf-ranst Brener, deputy 
board member at Deutsche 
Bank “We are not corporate 
raiders; we help protect corpora- 
tions from being raided-” 

To guard its own boose from 
such a threat, Deutsche Bank’s 
(Continued cm Plage 11, CoL 1) 


TOKYO — The Japanese cabi- 
net on Monday approved an Eco- 
nomic Planning Agency forecast of 
4-pereeni growth m grass national 
product in the fiscal year starting 
April 1, an agency spokesman said. 

The projected gain for the 1985- 

86 fiscal year, after adjustment for 
inflation, is 4J2 percent, compared 
with a growth of 5 percent for 1 984- 
85. 

In its annual economic forecast, 
the government said 1986-87 GNP 
is estimated al 336.7 trillion yen 
($1.65 trillion), unadjusted, up 5.1 
percent from a projected 320.4 tril- 
lion in the current fiscal year, when 
a 5.7-percent gain is predicted. 
GNP is a country’s total output of 
goods and services. 

Agency officials said domestic 
demand would grow, but external 
demand, or exports minus imports, 
would shrink because of the yen's 
rise against the dollar. 

Japan’s surplus in the enrrent 
account, the broadest measure of 
trade performance, is projected at 

10.4 trillion yen for the coining 
fiscal year, down from a projected 
113 trillion in 1985-86 but up from 
9 trillion in 1984-85. 

The surplus in the balance of 
trade; a narrower measure of trade 
that deals with merchandise only, is 
estimated at 11.4 trillion yen in 
1986-87, wdl below the 13.1 trillion 
in 1985-86 and near the 1984-85 
surplus of 11.1 trillioo. 

Both exports and imports will be 
smaller in yen terms in 1986-87 
than in the two preceding fiscal 
yeara, the agency said. 

Exports are estimated at 373 
trillion yen in the new fiscal year, 
down 63 percent from a projected 

40.1 trillioo in 1985-86 mid down 
83 percent from 403 trillion in 
1984-85. Imports are forecast at 

26.1 trillion yen, down 33 percent 
from a projected 27 trillion or more 
for the current fiscal year and down 

12.4 percent from 29.8 trillion in 
1984-85. 

The government forecast said in- 
dustrial production would be up 
33 percent in 1986-87 from 1985- 


86. Output is projected to rise 4.1 
percent in the current year, after a 
9.9-percent gain in the preceding 
year. 

Economists cast doubts cm the 
official projections. The)' do not 
expect the government to adopt 
any drastic economy- boosting 
measures in its 1 986-87 budget pro- 
posals because of acute fiscal re- 
straints. 

The govermnem’s forecast of 4- 
percent GNP growth for I9S6-S7 
compares with estimates by more 
than a dozen private banks and 
forecasting agencies ranging from 2 
percent to 3.8 percent. 

France lifting 
More Controls 

Reuters 

PARIS — Price controls on 
industrial products valued at 
more than 100 billion francs 
(about $13 billion) in annual 
domestic volume will be re- 
moved in 1986. the Finance 
Ministry said Monday. The 
measures follow a similar eas- 
ing since the end of August of 
price controls on industrial 
products with annual domestic 
volume of more than 65 billion 
francs. 

The minis try said that this 
meant that nearly 85 percenL of 
industrial prices would now be 
free from government control. 

A ministry list showed that 
products on which price con- 
trols would be removed includ- 
ed domestic healing fuel daily 
newspapers and magazines, 
perfumery and beauty products 
and chocolate. Other items in- 
cluded alcohol based on ani- 
seed and rums, video games, 
video recorders, tapes and cas- 
settes. and some other electrical 
equipment. 

The Finance Ministry said 
last month that fewer than 20 
percent of industrial prices 
would be controlled next year. 


Wall Street, Big Business Square OB on Proposed Junk-Bond Limitations 


By Leslie Wayne 

New York Times Service 

NEW YORK — Hie Federal 
Reserve Board’s proposal to limit 
so-called junk bonds in hostile 
takeovers has become a rallying 
point for big corporations tired of 
living in fear of attack. 

Big companies, and the lawyers 
and investment bankers who repre- 
sent them, are scurrying to express 
their support of a Fed move to 
impose margin requirements on 
certain takeovers financed by junk 
bonds — a move that would restrict 
the ability of small, oompanies to 
swallow companies many times 
their size 

“What we are seeing is old cor- 
porate America rising up against 


investment banks whose primary 
interest is in making a buck," said 
Perrin Long, a brokerage analyst 
with Upper Analytical Securities. 

At the same time, emerging 


growth companies, and those wbo 
raise money for them, are a tt ackin g 
the measure. And Wall Street, 
which usually presents a united 
front, is divided on the issue. The 
public comment period ended 
Monday, and the Fed must deride 
on the role before New Year’s Day. 

The proposed financing curb 
would limit the type of financing 
widely used in the latest wave of 
corporate takeovers. It would cot 
bade on the use of junk bonds — 
high-yield securities that are below 
investment grade — by requiring 
potential corporate buyers to put 
up at least 50 percent of the pur- 
chase price in cash or other assets. 

In many recent takeovers, espe- 
cially hostile attacks, small compa- 
nies have tin*Ti<*rf their ambitions 
by i-yaiing junk bonds in multi- 
bflbon amomitx. Last year, about 
12 percent of the nearly $16 billion 
raised in junk bonds went for take- 
overs or leveraged buyouts. 


This measure pits the two sides 
of corporate America against each 
other. Established corporate giants 
that fear falling into unfriendly 
hands generally support the mea- 
sure, while upstart companies that 
need to borrow to grow — or to 
raid — oppose h. 

Wall Street also has split into 
two camps — depending on wheth- 
er a fi rm is banker to raiders or 
targets. Dracd Burnham Lambert, 
the investment firm that became a 
powerhouse by engineering some 
of the biggest juni-bODd takeovers, 
is finding that its staunch opposi- 
tion to the Fed proposal is not 
shared in all quarters. 

“It’s hard to get any backing 
from some of the big investment Felix G. Rohatyn 

banks, because they represent the 
Fortune 500 and because many of 

t h«m havr c ooduded tha t this it an Nonethdess, the firm is pressing 
anti-Drexd move," said James Ba- a head . It has hired Ska d den Arps 
log, senior executive rice president Slate Meagher & Flom, a major 
at DrexeL New York law firm that often rep- 


resents corporate raiders itself, to 
bdp draft its letter to the Fed. And, 
it is trying to appeal to other bro- 
kers’ sdf-interest by arguing that 
the proposal could lead to a bu- 
reaucratic nightmare and could 
wipe out nonimstile leveraged take- 
overs too. a lucrative business. 

Those backing the Federal Re- 
serve proposal inclu d e Salomon 
Brothers, which has served as in- 
vestment banker to many target 
companies, and Sbearson Lehman 
Brothers, whose clientele also in- 
cludes some of the largest corpora- 
tions. Both firms, however, are ac- 
tive in underwriting junk brads. 

Meanwhile, Pruaeulial-Bache 
Securities and Merrill Lynch & 
Co., neither of which has long- 
standing ties to the corporate es- 
tablishment, are Hiring op with 
DrexeL Some booses whose clients 
are among the corporate blue drips 
have steered dear of the fray — 
Morgan Stanley & Co. is not taking 


a position, and a spokesman for 
Goldman, Sachs A Co. said the 
matter was “under consideration.” 

Perhaps the most prominent 
Wall Street voice to support of the 
Fed proposal belongs to Felix G. 
Rohatyn. a senior partner at La- 
zard Frtres & Co. Although he has 
masterminded some of the biggest 
takeovers, Mr. Rohatyn is a long- 
time critic of excessive borrowing. 

“I think it’s a very significant 
thing for the Fed to take a position 
on the more extreme types of lever- 
age involved in some of these junk 
bond takeovers," he said. 

Big business is being heard 
through such organizations as the 
Business Roundtable, a group of 
250 chief executives of dhe nation’s 
largest industrial companies, and 
the National Association of Manu- 
facturers, representing 13,000 man- 
ufacturers. And individual compa- 
nies, such os Control Data Corp. 
and Unocal Corp. said they wall 
submit supporting letters. 


What Makes Switzerland Work? 


By 111001X5 W. Nerter 

New York Times Service 

GENEVA — There is a story 
urid here about the time, 10 years 
ago, when only three people were 
out of work in all of Switzerland. 
All three were sought out for inter- 
views, but just one would consort 
and only on condition that his 
name not be used. 

As apocryphal as the stray rosy 
be, it says much about the status of 
being unemployed in a country that 
has enjoyed virtually full exnploy- 
roent for decades. 

This “culture of work" wss illus- 
trated in newspaper headlines and 
shocked commentaries last year 
when unemployment hit the crisis 
level of 1.1 percent for the first time 
since Worid War EL And although 
that level has subsided, nudging 
down to nine-tenths of 1 percent 
this year, the Swiss still puzzle over 
what they consider a high rate of 
unemployment. 

“The French work to bve,” a 
Frenchwoman joked, “bat the 
Swiss hve to wont.” 

The Swiss attitude toward unem- 
ployment, and the reasons it has 
consistently remained bdew I per- 
cent, is the subject of a study by 
three economists at the University 
of Geneva for the Employment Re- 
search Center of the University of 
Budtingham in England, where un- 
employment is about 11 percent. 

The study says the Swiss unem- 
ployment rate is duein large part lo 
the country’s small size, its trade- 
oriented economy, a decentralized 
political and trade onion system 
and the pressures of foreign trade, 
which absorbs 40 percent of its 
gross national product. 

“There are many reasons, how- 
ever, which just cannot be quanti- 
fied,” says one of the authors, 
Alain Schoenenberger, a senior as- 
sistant at the Department of Politi- 
cal Economy. “My feeling is that 


here in Switzerland, work means 
something.” 

Unemployment peaked at 43 
percent m 1922 and 3.6 percent in 
1936, the wrast year of the Depres- 
sion. Since I960, Switzerland has 
had an average unemployment rate 
of 0.14 percent, indnding a period 
between 1968 and 1975 when offi- 
cial statistics put unemployment at 
zero percent. 

The authors say that throughout 
the 20th cartnry decentralization 
of the work force, spread through- 
out the country in small industries, 
the lack of large heavy industry 
snch as automobile or steel malting, 
and a 1937 Labor Peace Agreement 
between unionists and employers 
that Emits strikes and lockouts and 
requires arbitration of disputes 
have kept unemployment low and 

Strikes to a nrini m um. 

Even the nearly universal cover- 
age of workers by unemployment 
insurance since 1977 has failed to 
provide what the authors call an 
^incentive to be unemployed." 

Critics have charged that the 
Swiss “export” their unemploy- 
ment, sending foreign workers 
home when jobs are short and 
bringing them bade when there is 
plenty. They have also died the low 


rate of working women, which at 
about SO percent is lower than that 
of almost all other North European 
nations except West Germany, and 
contended that Swiss statistics fafl 
to adequately reflea real levels erf 
unemployment. 

The authors of the report argue 
that none of the criticisms have 
much influence in reality. 

“The export of labor charge was 
probably valid during the 1974-75 
crisis, when many foreign laborers 
left Switzerland,” said Mllad Zar- 
mnqadan, an assistant researcher 
at the university. “Bat that is no 
longer valid since most foreign 
workers now have permanent resi- 
dence and we still see rates around 
0.7 or 08 percenL” 

Mr. -Zammejadan also says that 
women show “flexibility” about 
entering and leaving the job mar- 
ket, many f riling to register as un- 
employed. 

The two economists and their 
colleague, Yves Flneckiger, who is 
currently a visiting scholar at Har- 
vard, say in conclusion that Swit- 
zerland’s unemployment rate 
should remain the envy of other 
nations into the next decade, when 
some economists predict Switza- 
land will once again know full em- 
ployment 


AERO LEASING GENEVA 




Your Swiss Connection 

to professionalism and rriEabUlty In business avtatlon 

Our own fleet of 10 modern jets is ready to serve you anytime, 
anywhere. All Dassault Falcon and Learjet models available. 


For further deoils, please rail: 
Head Office: Geneva 
Ph (22) 984510 Tlx 289166 


Zurich Ph (1)81437 00 Tlx S6192 
Milan Ph (2) 278432 Tlx 335 475 
Madrid Ph (1)2593224 Tlx 44192 





Monday s 

MSE 

Closing 

Tobies include the nationwide prices 
up to the closing on Wail Street 
nod do not reflect late trades etsewhere. 


12 Month Sis. Close 

High tow Hock Dh». no. PE lOOs High Urn Quoi.CliYe 


(Continued from Page 8) 


63 33 QuokOt 180 Z* 15 *18 Mb 57% 57%—* 

= lnoSSkSO JOoX* IB mi 23ft 22% 2254- * 

104 5 Quonex 1? 18* 6 5715 5*t — ft 

34% 27 Ouostar 132 U 11 93 31* 31ft 31% + ft 

9 ISMrOMMf .240 J 71 11 5 9 fflt 9*8— to 


9% 45 
57V, 44to 
2 * 94 

404 9 
m 25% 
274 22% 
7414 40% 
2*4 24% 
31% 27% 
100 7*1* 

194 8814 

76% <3 
444 34 
264 21% 
72 34 

204 144 
94 14% 
75% 40% 
31% 22% 
*4 6% 

18% 10% 
844 31 
2BH 24% 
17% 14% 
5 % 2 % 

56% 37% 
24 134 

56 35% 

46% 30 
17% 13% 


11% * PM 
64% 51% PM 
114 8% PM 
1294110% 

11(4 102% Phil 
844 65 Phil 
77 62% Phil 

52 Phil 
Phil 
PMI 
PMl 
PMI 
PMI 
PMI 
Phil 

P 
P 
P 
P 
P 


20% 19% 
27% 274 


S3 

136% 

42 

8% 84 
34 3% 

72 21% 

15% 15 154 

494 48% 48% 
74 7% 7% 
28% 20% 20% 
34 316 3% 
894 884 8* 
11% 


53% 

54 
13 
17 
13% 

124 

9% *4 

34 33% 

114 10% 
2% 24 
1816 9% 
51% 


274 
16% 

334 

484 4M6 
1841104 
31% 131% 
374 37 
BOft 80% 
141 29 38% 

1772 25% 25 
125 316 2% 

130 41 <0% 

08 23ft 2Zft 
253 
795 
155 


916 

St- 4 

24—4 
10% + 4 
% 
v> 
% 
4 
4 
4 
4 
% 
4 
% 
4 
r% 
% 
% 
4 
4 
4 




15 


34 

50 

15 

140 

65 

158 

Ml? 

1.12J 


XU 

XI 

148 

X* 

120 

15 

.12 

1.1 

.»e 

15 

154 

25 

52 

3± 

XX 

u 

1A6 

125 

XI9 

US 

7.10 

hk 

48 

XI 


152 

34 

to 

152 

34 

26 

1A4 

44 

a 

156 

25 20 

A0 

11 137 

56 

X* 

12 

32 

27 

15 

xao 

54 

9 

A0 

13 

10 

M 

25 

8 

S3 

15 

It 

1 JR 

35 

12 

1 JR 

2J 

11 

150 183 


.0« 

3j0 


JO 

4J 

10 

JO 

55 

11 

150 

S3 

15 

150 

35 


14* 

57 21 

160 

19 

11 

M 

13 45 

1.10 

XS 

13 

152 1QJ 

13 


49% — % 
S9% 

164 

ZI»— 4 
11 % 

4—16 
64 

26*— 4 
5% —14 
34% — 16 
11% — 4 
60% + 4 
504— % 
144— 4 
29% 

12 

16%— 4 
>6%— 4 
22% — 4 
44 

474— to 
184-4 
38 

274- to 
38 — 1% 
103% + 4 
30% 

304— to 
15% 164—4 
21% 27 +to 
37% 37% + 4 
S3 30 -4 
33 9 + % 

464 464 
(4 84—4 
174 174— to 

?&?&+% 

29 29 

<4 Tto + 4 

75% — 4 
47% +2% 
404—1 
Tito 12 12 —to 

33% 33 334— 4 

19% 194 19% + % 
26% 254 26 — to 
*** <314 4714-1 
22% 22% 22% — 4 
29to 28% » 

42% OK, 42% 

36% 354 35* — 4 

23 22% 22% — to 

27 26% 264 

*44-42% 42*— 24 
39% 374 394— to 
264 26% 264 + % 
25% 24% 244— to 
44% 44% 44% 

61 60% 40*— % 

9% 9 94— to 

27to 26% 264— to 
12 llto 11% 

174 174 17% 

85% 344 844— to 
21 20* 21 
254 25V. 254—4 
15% 15% 154—% 
26 24% 25 — M 

53% 524 5316—4 
45% 45 45 — 1 

424 41* 414— to 

31% 794 804—4 
26% 26 26 — 4 

204 17% 19% — to 
124 llto llto— to 
50% 494 49% — 4 
234 22% 23% +T% 
29% 284 29% +4 
15 14% I486— to 

32% 32% 32%—% 
39 38% 39 +4 

11 

34 24 2to + 4 
20% 20% 2D* 

144 144 Mto 
37% 37% 374—4 
31 304 304— to 

X 29% 294— 4 
56 36 56 

374 36to 364— Ito 
*0% 394 39% — % 
174 1716 17% 

Ito lto Ito 
18% 18% 1B%— 4 
22% 22 22% 

5% 5V. 5V. — 4 
374 37 V —4 
94 94 94 

21 21—4 

504 504—1 
0*%104%— 14 
50% 51 
54 54 5% — 16 
74 7% 74 
384 38 38% — 4 

224 22% 22% — 4 
4Bto 48 48% + 4 

124 124 

33% 33% + % 

ssistta 


25 

84 

19 

67 

1 

94 

in 

12 

10 

17 

IS 

34 

2D 

S 

1.1 

16 

30 

14 

19 

*8 

18 


54 254 

14% 6 
25% 15% 
34 21u 
294 194 
5% 2% 

15% 6% 

04 224 
15% 94 
25% 13 
12 3% 

12 94 

134 <14 
66% 32% 
4*4 3*4 
>8 99 

764 584 
724 55% 
34% 58 
32 13* 

85 334 

904 664 


VF Con> 158 
Valero . 

Valero! 3*i 
Valrvlo 
V wiDth lJDC 
Vorco 
Vorcoof 
Vartan -24 
Vara M 

Veeco -40 

vendo 

VostSc 120 
veetmn 
Viacom M 
VoE Pot 100 
VaEPpt 7.72 
Vo E£P oi 88* 
VoEPtJ 772 
VOEPpf 750 
VoEPpf 7 AS 
Vlshays 
Varnod 
VvIcnM 280 


795 52VS 
852 13 
14 25 
134 24 

121 J?ft 
56 4% 
4 144 
460 Jfi'l 
68 14 
244 17V? 
87 lOto 
82 Uto 
118 124 
13(9 55ft 
1201*8 
1(01 764 
3001 BS’tt 
770z 77 
2ta 72 
16501 n 
ZB X 
97 711 j 
217 *04 


51% 514— 4 
13% 12to— to 
24to 25 + ft 

?% 24 + to 

294 294 + to 
4% (to 
14% Mto— to 
17* 27*— 4 
13to 13* — 4 
16* 17% — % 
104 I Oft— to 
11* llto + ft 
12% 124— % 
534 S* —14 
474 48 +7 

744 754—14 
B5% SSft — 2* 
754 71 +1% 

73 72 +2 

73 73 

39% X + to 
704 70* + 4 

90 90% — % 


1 ? 

Ti'u 

32 '* 

27 % - 

Vi 

cm 


1 

Jto 


U 

204 

T 9 -2 

*%+ ss 

7 13 *% 130 w UR %— 1 



ii* 

12 *- 

* 

SI 3 

13 % 

13 % 

llto— 

% 



M 



l 


« 

« 


13 

6 % 

(to 

•%* 




IV* 



16 

141 - 

)*% 


* 



44 


-to 

231 

U.f 

J 2 V* 

< 3 H — 

«% 


Vi 

30 * 

Jh- 

* 

1 IW 


42 '- 

42 % — 

to 

15 

V) 

< 9 * 

50 + 

m 

1*6 

re 

8 




18 



2 Mt 14 % 

14 





4 Tto 

4* + to 

67 

■rt 

34 

Mto — 

to 

MS 

3 W» 

Hi 

2 *to — 

to 


IG=+ 

17 ~t 

MV,- 

<to 



17 * 

J 31 b— 


55 

14 % 

!J 1 » 

U% — 

% 

J 7 » 

19 

58 % 

3 *.— 

* 

7 IU 

*V, 

6.2 

— 

to 

115 

5 ft 

V* 

5 to+ to 

109 

Vi 

37 — 

J 8 to * 

to 

444 

1 ) 

lOto 

nto- 

to 

599 

7 -i 


♦to— 

* 





ft 

419 

48% 

TO'- 

39% — 

to 

150*89 

89 

89 —tto 

J 

76% 

16* 

16* 


IC7 

(Oit 

39^ 

79ft 7- 

% 

36 

39% 

.Vta 

Uto— 

ft 



40 



491 

13% 

llto 

T3to 


Bfi 

59 te 

w- 

5W« — 

to 

3 

Oft 

83V] 

Sift — 

* 

49 

4'k 

4 

O * 

* 


91 1- 

?: 

93ft- 

•to 

26 


3% 

3* 




14 ": 


ft 

X* 

:Mk 

171s 

17!%- 

to 


(0% 37ft Xcnw 100 U 3 1**# 584 57% Wl-1 

5(to 48Vi Xerox st 585 108 10} SJto 54* SJto 

29 204 XTRA 64 28 1* 2H 2Ws ZT* 235* ♦-H 


30% Mto ZoleCp 1JJ 4J 13 « 294 29’-* 394 

17 6% Zapata .12 15 54 *02 7% 74 J4 + 4 

32*Zav«* At 8 18 322 51% 59% Slto-I* 

25 16% ZetilmE 969 9« 70 19 I**— % 

22% 17% Zero J 82 14 19 8* 23 2T* 23 9 % 

414 24* Zurnln 1J2 U 14 112 JKl Ml »to + .% 


MSE Hjghs-L(n>s 


IIS. Futures 

Via The Associated Press 



Setaon Seaeon 

Htati Law Open Hteh 

Dm 23 

Law Close a*. 

! Grains 

wm—mmi 

| WHEAT (CBT) . _ ... 1 


*S B 

atom 
Of 440 125 
Pi 458 128 
pf 7.00 115 
pi 075 127 
pf 181 IX* 
pf 1 83 114 
pi 785 117 
pf 1-28 122 
7.12 108 
525 117 
952 115 
950 128 
780 1X4 


72% 72% 
134 13% 
34 34 

6% 17 
M MM 
19% 19% 
13 13 

34 34 
264 27% 
gft 34% 
254 35% 
23% 23% 
10% 10% 
. 8 % 8 % 
3(4 34% 
504 50H 
264 264 
84 >16 
lOto 10% 
354 354 
234 234 
344 344 


42* — to 
94 —4 
8% + 4 
204 + 4 
294— * 
904 + 4 
64 +4 

4— 4 
87% —1 
I9to+14 
21 + % 

£S=3 

£&±tt 

oS-% 

i7 — to 
5954 — 14 
<34— 4 
384— * 
024— % 
16 

22to— 4 
9to— % 
21% + 4. 
30% — % 
29* + to 
214—1% 
33 to— to 
31% —lto 
O<410«4—1% 
54 54— % 
144 144— % 
29% X 
X X — I 
3to 3to— % 
48% 48% — 4 
43% <34-24 
llto 1Z% + to 
274 274 + to 
1*4 194—4 
384 3* —4 

1 9% 2014— * 

« 144 ♦ % 

24% 244—% 
13% 134—4 
7% 7% 

63 £2%— % 

22* 234 + * 
56 564 + * 

<Z% 424 + to 
94 *%— % 


Htah Low Open High 1 

COCOA (KY CSCE) 

10 metric Ians- S oer ten 

2392 1955 Mar 22S3 226* 

2422 1960 Mo y Z7TO ZHM 

1429 I960 Jul 1319 23X 

2430 2023 Spo 2340 23*5 

2425 2055 Dec 2349 2349 

2385 2029 Mar 

Est. Sales Prev. Sates 2887 

Prev. Day Open Inf. 17823 up 102 
ORANGE JUICE (NYCE) 

15800 lbs.- cents per lb. 

18080 ni-70 Jan 11680 11850 

17750 11250 Mar 11850 171.75 

16250 111.95 May 11825 12X50 

75750 11180 Jut 118.10 12250 

1X50 11180 Sap 11775 11735 

125.00 11150 Nov 12050 12050 

11380 11280 Jan 12050 1X50 

14185 11150 Mar 1X50 12050 

May 12050 12050 
Est Sales 3800 P rev. Sales 1000 
Preu. Day Open ln>. 13AT2 


2245 2252 

2290 2297 

2319 2323 

2335 2344 

2349 235* 

2369 


114.90 11850 
11650 121.15 
U7J5 12280 
11810 12X15 
11750 11985 
12050 11955 
12050 119.95 
12050 12080 
12O50 12080 


Metals 


Industrials 


Vsiiin 

Gonimodhies 


Volume: 2 lets of 25 tans. 
Source: /teuton 



London 

Commodities 


Dm 23 

_ ciese Previous 

sugar”** ^ «w a* 

Start tag per metric ten 
MBT 15540 14980 14980 14950 15*80 15*50 
MOy 15950 15480 IS480 15480 15880 15980 
Any 16450 15980 15880 15980 16350 16480 
oa 16980 16780 16350 16480 16840 16980 
Volume: 1,925 lets of 50 tans. 

COCOA 

Sterling per metric tee 
pec 1846 1835 1844 1,750 W3B 1845 
Mer 1898 1875 1886 18» 157? 1801 
MOV 1505 1.783 1592 1393 1593 1594 
i'y 1814 1394 1802 1504 1505 1509 

Sep 1826 1807 1814 1816 1815 1816 

Dnc 1826 1800 1816 1818 1811 1816 
Mar 1835 1835 LEO 1839 1823 1831 
Volume: 3831 lots of 10 tans. 

COFFEE 

Sterling per metric tea 
Jwi 2865 2590 X710 2830 X7T2 2825 
Mar X83S 1730 X778 X7B0 X72D X730 
May X900 2JM0 2830 2839 2820 2850 
Jta 2.940 Z850 2890 2.900 2.900 X905 
Sjp 3800 2.900 Z9X 2835 X920 X915 
*?* MTO X9B JJ40 2844 28(5 X950 
Jan 2.975 2840 2840 1970 1950 1980 
Volume: 11799 lots at 5 tons. 

GASOIL 

U8. doilan per metric ton 

JOB 23825 23850 23650 •noon 23950 24080 

Feu 23450 23X26 233.25 23350 23450 23550 

(to- 22450 m25 m00 22355 223J5 Z2450 
Art 21050 20050 206,30 20950 7SP2S 21050 
MOT 20100 20050 2D0JK 201 50 20050 20100 
Jun 20050 19950 19925 20000 20050 201.75 
Jly 20050 19925 19100 19950 20050 90220 
Aug 28050 20050 20050 20025 20050 70150 
Sep N.T. N.T. 19050 2QS50 19550 20150 
Volume: 36S lata of 1Q0 Ions. 

CRUDE OIL (BRENT) 

UJ&. donors per Barrel 

Hb 2*58 9450 3485 24.90 3450 25.10 
MOT N.T. N.T. 2160 2*20 2*50 2450 
A« N.T. N.T. 2J00 2400 2150 2450 
May N.T. N.T. 2120 ZUU 2350 3440 
J» N.T. N.T. 2350 2350 2250 2430 
Jl> N.T. N.T. 2250 2250 New — 
Vo fume: I tots of 1800 berrets. 

Sour cos: Ruttnond Lcxxtan PttrtUtvm Ex- 
Chanoo (oaaedl arudo oil). 


LLSeTreasuries 


Dec. 23 

Dtsooent Prey. 

Otter Bid YW0 TleM 
3-monlti bfll 75* 752 727 722 

ftftoraiM 758 756 7 M 7Ai 

1-reorbM 7.11 759 782 751 

9m. 

BU Offer YkU new 
36+r.hsnd Ml 14732 105 127K *34 9jj 

Source: Safomon Brother*. 

MeirBI LMi Treasury Mix'. 13784 
Cfemoe lor the day : + 057 
Average y laid: 870 % 

Sam: MerrfB Lynch. 


Commimtities 


Mor U39 18U 1816 1500 

MOY 1567 1550 1850 12M 

Art> WJ7 1818 1809 1874 

Od N.T. N.T. I860 1870 

P»C N.T. N.T. 1875 1805 

Mar N.T. N.T. 15*5 186 5 

EH. vuL: 601 lots Of SO lota. Prev. , 
soles: nalof&Open interest: 32585 
COCOA 

Freaai francs per HO k> 

0*c 1810 1810 1810 — 

Mw 1.950 1,942 1841 — 

Mav N.T. N.T. 1830 — 

MV N.T. N.T. 1860 — 

Sep N.T. N.T. 1870 — 

Dec N.T. . ILT. 1870 — 

6 tor . N- T - N.T. 1500 — 

BL val.: 14 Jots at 18 tone. Prav. i 
sates: 22 lets. Open Interest: 3(7 
COFFEE 

French francs per iss kg 
Jjm AT. M.T. 2580 2800 

Mar jmo Z955 28S5 28S9 

May 3529 2829 3510 — 

Jfy N.T. N.T. 38BS XI OS 

N«v 3.170 2JT70 X140 — 

JOA , N-T. N.T. 3>I90 — 

vrt.: 110 tats gt 5 tans. Prev. c 
soles: 290 lets. Open interest: 406 
Source: Bourse du Commerce. 


London Metals 


Cash Prices 


Livestock 



Dec. 23 

Year 

! Coaunadlty out Urtt 

Man 

A*o 

Cofta«4 Sorrtoe. lb 

Ul 

144 

1 PrfnicMti 66/30 38 ft. yd — 

Ul 

058 

: Steel Wlftta IPHU, tan 

47X10 

<7180 

iron 2 Wry. PNia* Ion 

2I3J0 

21X08 

; Steel serqp Na 1 hvy Pitt. _ 

73-74 

n-82 

Lead Soot, fc 

1B-T9 

r-n , 


69-71 

64-0 


MJL 

mm | 

Zinc E. St. L. Bails, lb 

055 

MS 1 

Palled urn, oz 

9*72 

1Z7-1TT 

SOver N.Y.oz 

Source: AP. 

S8B 

MJL 


32X90 —180 
33380 —150 
33470 —180 
339.10 — 180 
34X30 — 1J0 
3*650 —180 
35150 —180 


9285 +85 

9485 +85 

9555 +55 

9750 +85 

9045 +35 


LUMBER (CME) 
13B500bd.ft.-searl800bd.fr. 

10750 13380 Jon 1*750 14*50 

19550 139J7D Mar 1S2M 15850 

t7L40 1*520 May 15750 15850 

18350 149J0 Jul U150 16150 

176X0 15X90 Sep 16850 1(4.10 

18130 15650 NOV 16350 16350 

I7UD 16650 Jan 16730 1020 

EH. Sales 447 Prev. Sales uo* 

Prev. Day Oaen Ini. &SS0 iu>133 
COTTON 2 (NYCE) 

5D500 lbs.- cents per lb. 

7 675 S8J7 Mor 4133 6160 

7050 2L90 May MM *123 

7005 57 JO Jut 5756 5830 

ASJO 5X60 OCt 51 JO 51X0 

5935 48.*0 Dec 4980 4959 

6*35 49 JO Mar 50J8 5050 

5X75 5085 Allay 5D8Q VL50 

Est. Sales 600 Prev.Sales 900 

Prev. Day Open Inf, 21864 oH371 
HEATING OIL(HYME) 

4X0X gal- cents per eal 
9035 6950 Jon 6030 8060 

90.15 7050 F«b 7830 7B.75 

8555 6080 Mar 7X70 7830 

eoJO 6585 Aar *780 6780 

7*80 6380 May MJ0 6550 

7539 6X50 Jun 6330 6330 

7450 6X50 Jul 6450 6450 

74.15 61.95 AUO 

7X50 6385 Sen 

7855 7X50 Oct 

7850 7150 NOV 

Est.Sgies Prev. Sales 1303 

Prev. Day Open Int. 34.167 oft 61 
CRUDE OIL(NYME) 

IXCObbl.- dollars pgr bb!. 

3053 243S Feb 3530 2SLB6 

29X8 24.M Altar 2438 2550 

2955 2157 Apr 2*25 2*50 

2835 Z3J0 May 2195 2*50 

2756 2295 Jun 2352 2163 

2753 XX 95 Jul 2120 2330 

2733 2245 Aug 2295 2293 

2630 2225 Dec 2250 2230 

Est. Sales Prev. Salts 11539 

Prev. Day Open tnt. 59582 off 1382 


14750 14790 
15X50 153 JO 
15650 158.00 
16080 16150 
163J0 164.10 
16350 16550 
1*730 16720 


61.12 612S 
MM 6157 
5738 5830 
5145 5158 

4U0 4951 
50J0 4937 

5050 50.12 


0050 Bait 
7850 78.14 

7X60 7X90 

6740 6783 

64J0 6435 

6870 6450 
6450 6459 

6155 
6X90 
6190 
6190 


2SJ3 2356 
2*66 2*38 
24.12 24.15 
2875 2185 

2147 2357 
nsn njo 
XX 95 2295 
2248 2X50 




3 — - — - — l/i* — — 

T15 BV, — — — 1/16 1/16 — — 

W M»Z - l/KVU« - 

TfsahJito- \n*v, - 

25 Jfft ISfr Mto — % K/l* 17/14— 

195 ID (Ilk XMi MR — nun* 

a m. U.-M ii m n » h 

an jn a m 7% • 6*6 r 

2 K » re ft » 71 n N Hk 

RJ 1M1*» MM n* 1*6 11% - 
a 5 A 6 R 1 to 96 — IS WftTTto 


HM2B3B LmBUS OtMRUt-XM 
SOOTCKCBOe. 


Dividends 


3*750 3*950 34*50 2*646 
23865 23865 23865 238*5 
237 JD 
2*051 
2*550 


Sates *003 
42 Off 263 





Doc.23 

CeamcwT 

Per 

Amt 

Par 

Roc 

INCREASED 



PACCAR Inc 

e 

X 

3-5 

M? 

Pence Federal Bank 

u 

.15 

2-18 

23 

STOCK 




Soulb. Home Svnos 

. 

20% 

1-20 

1231 

USUAL 




Atner Fed SAL Co 

o 

.15 

1-41 

1231 ' 

Ampeo-PIttOwlWl 

Blnfa 

a 87% 
a 5s 

1-30 73-31 
1-24 W ' 

CTSCere 

Q 

5S 

2-5 1331 

Inured tent Tech. 

Q.Uft 

13 1230 


Q 

.12 

1-91 

1-10 

Roy N’ Pok stores 

O 

.76 

1-23 

13 

Stocker % Yole Inc 

a 

84 

2-14 

1-17 

MW98U ffl-mntwyi 

? e eMeruriy? mmi 

Source: UPl. 






DM futures 
Options 


w (RnMRAtoft-nUWirvjkttieWKrinert 


Mi OMGslHi toris-Settle 

Price Me Jee See Mar . Jn See 

B Ul 269 — 8112 837 050 

2 144 1.9? 1*1 (3* 0J4 Ml 

« 0J2 141 L8> 831 153 L19 

41 044 896 148 152 1J* U7 

41 021 06* 152 257 Z14 22* 

41 - 040 — — XS9 — 

Estimated Ms j nd. 1397 
Qelb; FrLvM.1527gpCNlet.305H 
Puts : Fn. eel UN open ml 21 J17 
Source: CME. 




Monthly Trade Surplus 
Shrinks in South Africa 

Reuters 

PRETORIA — Sooth Africa’s 
trade surplus narrowed to 1.44 bil- 
lion ran<l(S543 million) in Novem- 
ber after rising to 1.96 billion rand 
in October, according to customs 
and excise figures released Mon- 
day. 

There was a surplus of 547.1 mil- 
lion rand in November of last year. 


West German Insolvencies 


Reuters 

WIESBADEN, West Germany 
— Corporate insolvencies in West 
Germany rose 2 1 J percent to 1 , 1 57 
in October from the like month last 
year, the Federal Statistics Office 
said Monday. 

WHAT WOULD UFE BE UKE 

wnHouriT? 


I EACH FRIDAY IN THE fl-fT.I 


SUGARWORLD II (NYCSCE) 

Tl2500n»r cents per to. 

735 350 Jon 4JB 451 445 445 — J2 

m SS HR Sfi » s» IS =3 

« s a .S m ^ ts 

73D 452 00 *35 650 625 A20 — 34 

7J5 6JS Jon *58 —.11 

7M *61 Mor 7J5 736 693 750 —.11 

Est. Seles , Prey. Sales 12.130 

Prev. DayOeofl lot 97S71 off 1499 


To Oar Readers 

The Philadriphia CnnenCT Op- 

rions were not available in this coi- 

ton because of transnassioa delays. 


j UungaryExpecU Surplus 
In Trade With the West 

i 

Agtote Fmct-Presse 

BUDAPEST — Hungary expects a S25 Up 
lion trade surplus with the West over the next 
five years, Finance Minister Istvan Hetenjn told 
partiament Monday. 

BuiMn Hetenyi^peakin^ during a debate on 
the new five-year plan, admitted, that industrial 
production, national income and trade had fall- 
en below target this year. He did not give exact 
figures. 

Lajos Faluvegi, deputy prime minister and 
chairman of the planning commission, said the 
balance of trade for 1986 was expected to show 
a surplus of S3 50 unlSon .to $400 milli ng 


Financial 


US T. BILLS (IMM) 

S7 mlllkrv rtsonoopet 
9U6 0660 Mar 9333 9126 

9830 *751 Jun 9119 9820 

9356 «50 Sep 9X9* 9254 

9X44 MM Me T 9X37 9237 

9X31 9050 Jun 9X15 9X15 

9154 9053. S*p 719* 919* 

9271 9X65 Dec 9X71 9271 

EetSolee Pr*v. Softs 7410 

Prev. Day Open Int 35592 up 1506 
18 YR. TREASURY <CBT) 

SI 00500 prt a- pta & 32r>ds of 1 80 pet 
5. M War 92-13 92-22 

S'i il - ? 9 Jun *-2S 

90-30 80-7 Sw 

90-6 80-2 Dec 

ES. Sales . - Pmv. Soto* MUJW 

Prev. Day Open int. 7131 us 46 

US TREASURY BONDS (CBT) 

(B DCt-Iloaattpts &33ndsot 100 od) 
8S-13 57-2 Mar 8+16 85 

*4-16 S6-W Jun 83-20 8+3 

83-21 5+29 Sap 83 83-11 

S2-29 S+H Dec 82-7 82.21 

BM3 56-27 Mar *1-27 02-3 

81-22 63-n Jun 81-12 KIDD 

SUL SI. •w' *w 

BO-28 62-2* Dec 

80-13 67 Mar 

80-10 (+25 Jun 

#0-5 TWO Sep . 

EsI. Sales Prev.Satos2l6n3 

Prev. Day OptnlRUIW up 3590 


MUNICIPAL BONDS (CBT) 

SlOOOx I ndex-pt« & 32rtds aM 00 pa 
n-Jt iH % MS 91-17 
90-29 79 Jun 90-U 9Q-2Q 

9W .29-10 Sep 

W-26 88-20 Doc 

Eet.Sales Prow. Sales 2301 
PrevJJay Open InJ. 1X39* off 1549 
CERT. DEPOSIT (IMM) 

XI mUlten- ots of 100 ocf 
9X30 05J4 Doc 9X38 9238 

«5 >4* Mar 9257 9X63 

9X51 8*43 Jun 

9256 - 8756 Star 

9158- . 8854 D6« 

9025 8850 Mar 

Est.Sgies Prev. Sates 1(8 

Prev.Doy Open Int. 1555 otfW 
EURODOLLARS (IMM] 

n mimon-ptBor uopcl 

9X29 9X32 


551 9353 

9115 91)6 
?X74 9X95 

9X37 9X42 

9X15 9X17 
9L90 9152 
9X64 9X67 


92-10 92-16 

n -20 91-20 

90-37 

904 


8+13 8+18 
M-17 03-2* 
SMI 8M1 
82-7 82-12 

81-27 BV-28 
81-11 SMS 
a (Ml 01-3 
80-22 
80-14 
8M 

sen 


90 -a »t-r 
9W 9M 
89-11 
00-13 


9155 912* 
KIT 9259 



Close 

Moody's— — 937 An f 

Reuters 

DJ. Futures—. 13 T 22 

Com. Research Bureau. 229jn 

AAbody^ : base 100 : Dee. 31. 1931 . 
p - preliminary; f . fmai 
Routers : base loo : See. 18. 1931. 
Oow Jones : base 100 : Dec. 31, 1974. 


Previous 
941.10 f 

13IUa 

mio 



Usinor Expects Loss 
Of 2 Billion Francs 

Rffoenr 

PARIS — Uanor, the government -own 
sttct group, said Monday That it expects co 
a^dared tosses of 2 billion francs (S261 
Bon) in 1985 and of I hflhon francs in 1986. 

Group President Ren6 Loubert told a i» 
conference that 1985 results woe -lower flu 
expected because of the weaker Hni frj r and 
lower price, for flat steel export .products. I 
sart the group expected to return to profit 1 

Usinor had a Joss of 7:6 bflfion francs !* 
year, partly because of exceptional restruett 
mgeosts. - • - • 































































































BNTEBNATIOINAL HERALDTRIBUKE, TUESDAY- WEDNESDAY, DECEMBER 24-25, 1985 


Page 11 


SMESS ROUNDUP 


- ,y Isadore Barmash 

fjgw York Tima Service 

' ■ N YORK — Shoppers 
oat in droves to fill stores 
;i the United States is the 
‘vcekead before Christmas, 
retaOers what some called 
. . iggest weekend of the year. 

' t rtt&fen tooted doable* 
tcreases ova the comparable 
: .id last year, while others said 
sios ranged from 4 patent 
■V icenL But shortly before the 
this yi^s abbreviated sbap- 
asoo, most retailers were irn- 

' whether sales for the boli- 

- riod as a whole would exceed 

• if last year. 

3ugh the weekend, retailers 
ashing prices and extending 


retailers. In Baltimore, Angdo R. 
Arena, chajnnun of Hufcder Broth- 
enf department stores, with 10 
stores in the area, said, “The stow 
slowed up things.” 

Mr. Arena said that Hutzler’s 
daily sales pace so far this season 
had beat “significantly ahead” of 
last year’s holiday period. He add- 
ed, .however, that there was a possi- 
bility that overall revenues could 
fail to top those of last year because 
ot the snorter season. 

In Boston, Jordan Marsh Co„ 
the largest department store chain 
in New England, with 18 stores. 


Oil Speculation 
Cited at Merx ; 
Loss Expected 

.. Roam 

VIENNA — DungemitteT 
and Chemikalienhandelsge- 
seUsdhaft mbH, or Merx, a unit 
of government-owned Chenrie 
Linz AG, is likely to post a loss 
of 550 miQion schillings (531 
million) in 1985 as a result of ofl 
speculation in the last four 
weeks, a government nrnjfjiw 


Turner Doubtful on Running MGM 


New Rescue Plan Offered 
To TFC , Banks , Brokers 


% ours in an effort to offset the fore Christnu 
i jfri >rable impact of having six yearns biggest 
between Than tsei vine lieved that 


^jitoys between Thanksgiving 
Christmas than in 1984. The 
■^ur the Thanksgiving holiday 
„ SnoaaDy the start of the 
; • mas shopping season. 

- iead sales were hart a bit in 

■ the eastern United States, 
it stowed, according to some 

JCbn Unveils 
f ease Against 
sdkTakeover 

The Associated Press 

MBARD, Illinois — MidCon 
said Monday that it had 
Bed a $75-a-share cash and 
_ ties stock swap as a defense 
*t a hostile $2.6-bflHoo take* 
jltempL 

■ natur al-gas pipeline compa- 
id its board of direaors had 
meted the offer Sunday for as 
• as 10 million of its own com- 
pares, aboot 24 percent of the 
outstanding. 

; move was in response to the 
Lade Dec. 16 by a partnership 
igner& Brown, an ml and gas 
any based in Midland, Texas, 
Freeport-McMoRan Inc., a 
Orleans- based energy and 

■ -als concern. 

■ s partnership offered $6230 
ui of MidCoa’s 413 million 
too shares, plus $1,488.10 for 
$1,000 face amount of Mid- 
i $100 million of KMA-peroent 
tfinaled convertible deben- 
doe in 2009. 

I Davis, MidCon's chairman, 
Jut if the partnership contin- 

- is takeover attempt, “we will 
additional steps.” 


day of the year on Saturday. Elliott 
1. Sterne, chairman, said that it was 
typical for the final Saturday be- 
fore Christinas to emerge as the 
veal's biggest day. He said be be- 
lieved that business was “big 
enough to surmount the hurdle of a 
short season.” 

Macy’s Herald Square, New 
York’s largest department store, on 
Saturday had “better sales results 
than the Saturday before last 
Christmas," reported a top man- 


In Chicago, Mortem Huff, presi- 
dent and chief executive officer of 
Wieboldl’s, which has 13 depart- 
ment stores, said buancss was good 
die 10 days before the weekend and 
he was encouraged by Saturday 
and Sunday sales. 


Sanko Reorganization 
Seen likely for Early ^ 

Renters 

TOKYO — The reorganization 
of Sanko Steamship Co., which 
filed for protection from its credi- 
tors in mid-August, could begin 
early next year, Japan's transport 
minister, Tokno Yamashita, said 
Monday. 

Mr. Yamashita told reporters 
that there were sriB problems to be 
resolved, such as canceling foreign 
ships on charter to Sanko. But, he 
said, “A conclusion is likely to be 
made early next year.” 

Hanson Extends SOI Offer 

Reuters 

NEW YORK — Hanson Trust 
PLC said Monday that it had ex- 
tended again the expiration date 
for hs 575-a-share rash offer for 
SCM Corp. until midnight Jan. 3. 
The offer was to have expired Mon- 
day. 


said Monday. 

Ferdinand T-ariiy*, minister 
of transport and public econo- 
my, said the extent of the loss 
came to light over the weekend. 
He said that earlier this month, 
he had been assured that Max’s 
losses would be limited to aboat 
80 million schillings, which 
would be covered from the 
profits of Chemie Linz. 

Two of the top managers of 
Merx, Helmut Scaeichl and JOr- 
gen Potsch, have been dis- 
missed, reported Mr. Larina, 
whose ministry is responsible 
for nationalized industries, in 
Austria. 

Mr. Larina said Max man- 
agement had stepped up activi- 
ty in the oil market despite or- 
ders from the government 
bolding firm,. Ostenachische 
Indusirieverwaltung AG, 
OIAG, to puD oat of the oil 
trade. 

Merx also had ignored the 
trade limi ts on individual oil 
transactions imposed by OIAG, 
be said. 


By Nicholas D. Kristof 

. New York Tima Service 

LOS ANGELES' — Turner 
Broadcasting System has suggested 
that its heavy borrowing to acquire 
MGM-UA Entertainment Co. 
could cripple its ability to run 
MGM as a major movie studio. 

In a filing with the Securities and 
Exchange Commission in Wash- 
ington on Friday, Tomer Broad- 
casting said MGMs cash Dow after 
the acquisition “would be insuffi- 
rient to fund new motion picture 
production by MGM or dart ser- 
vice by Turner Broadcasting.” 

■ The filing also said MGM had “a 
substantial loss" for the quarter 
ended Nov. 30, 1985. 

Tomer Broadcasting’s difficul- 
ties in swallowing MGM, in a $13- 
hfllion takeover announced in Au- 
gust, have been known. The filing. 


however, was the strongest state- 
ment yet of the challenges that 
Turner would face in trying to run 
MGM. 

To raise money for the purchase, 
Turner has said that it was willing 
to sell any pan of MGM except hs 
fihn library. The f ilm library was 
the primary reason for the acquisi- 
tion because it would provide pro- 
gramming for Tamo's supersta- 
tion in Atlanta, WTBS-TV. 

Turner said in the fi l in g that if it 
did not sdl MGM*s production 
and distribution assets, it would 
run them itself. But it added, 
“Turner will remain in the motion 
picture business only if the cash 
flow generated from such business 
after the initial period is sufficient 
to fund future financing needs.” 

Because of the heavy debt as- 
sumed during the acquisition. 


P&O Acquires an Indirect 10% Stake 
In Operator of Cross-Channel Ferries 


Adam Opd AG, a wholly owned 
subsidiary of General Motors 
Corp., said that European vehicle 
registrations rose 0.08 percent this 
year to an estimated record 121 
milli on units from 1.12 minion 
units in 1984. 

American Express Bank Ltd. will 
take as much as a 40-percent equity 
s take in government-owned Inter- 
national Corporate Bank of the 
Philip pines, an Intembank spokes- 
man said. « 

Citibank Canada, wholly Owned 
by Cticorp-, will acquire Overseas 
Bank Canada, a subsidiary of 
Overseas Trust Bank of Hong 
Kong, effective in Februaiy, the 
banks said. Terms were not dis- 
closed. 

Coasted Vickers Ltd’s two ma- 
jor shareholders will accept an 81- 
million-Aus trail an-dollar ($55.4 
million) bid from Australian Na- 


Agatce France- Presec 

LONDON — Peninsular & Ori- 
ental Steam Navigation Co-, Brit- 
ain’s leading shipping tin*, said 
Monday that it had acquired a 
staked about 10 percent m Euro- 
pean Ferries Ltd. for £36 million 
(about $50.4 million). 

The interest was obtained indi- 
rectly by purchasing 50.01 percent 
of an investment company that 
bolds 20.8 percent of European 
Ferries. The remaining 49.99 per- 


tional Industries Ltd., Comsted di- 
rectors said. Commonwealth Steel 
Co. and Vickers Australia Ltd. 
each own 38 percent of Comsted. 

Fiat SpA said its subsidiary, Fiat 
Allis Europe SpA has signed a col- 
laboration package with 14 Oklbar 
of Yugoslavia valued at 120 billion 
lire ($69.88 mflHoo). Under the 
eight-year contract, 14 Oldbar will 
simply components and Fiat AIHs 
wm provide lots for the assembly of 
fiat Allis bulldozers in Yugoslavia. 

Framatome SA, France’; govern- 
ment-owned unclear engineering 
company, has signed a memoran- 
dum of understanding with China’s 
Guangdong Nuclear Bower Joint 
Venture Co. far the construction of 
two nuclear reactors at Daya Bay 
near Hong Kong- 

AB Leo's recent restricted share 
issue will be investigated by a gov- 


eutsche Bank: A Power in the Gemian Economy 


(C on tinued from Page 9) 
wsory board moved in the 
970s — when oil-producing 
ties were flush with cash to 
— to prevent any single 
odder in the bank from hold- 
sore than 5 percent of the 
j rights. The 5-percent cefling 
nutted under West German 
rate law. 

•erviswy boards of West Ger- 
wnpames, typically compris- 
tajor shareholder represented 
and an equal number of 
any officials, usually make 

- mal call on management's 
1 corporate strategy, on divi- 
payouts, on large acquisition 
sals and, ultimately, on who 

- appointed to the managing 

ie claim that we control com- 
: through onr supervisory 

representation is just not 
Mr. Christians said in the 
ion interview. “The function 
ervisory boards is to provide 
and to oversee what man- 
: ut derides." 

isured by its balance-sheet 
its anticipated operating 
of more than 4 billion DM 
rar. its scope of industrial 
gs and its co mmanding posi- 
the domestic securities mar- 
•rankfun-based Deutsche 
£«ves far behind its nearest 
tic competitors: Dresdner 
^G, Bayeriscbe Veremsbank 
id Commerzbank AG. 
tided in 1870, Deutsche 
reused for decades on pro- 
export credits for German 
y. After World War D, the 
■trerged with new strengths 
d underwriting, an area in 
l continues to lead domestic 
toon. It also rapidly moved, 
leadership of its now re- 
pairman, Hermann Josef 
> expand its industrial bold- 
ly. it is also the subject of 
on the international leveL 
rial a a major U.S. bank in 
urt said: “Deutsche is inier- 

% well-respected, particu- 

r its strengths in Germany, 
& a long way to go to match 
■ratoonal network of a Gti- 
’ Bank of America.” 
Deutsche Bank is facing 
xnnpeuuon in international 
»■ Analysts paint ait Dail- 
y's displacement by U.S. 
riss banks from the com- 
g position it held in the ear- 
’s in the Eurobond lead- 
merit business. 

•' vith a 1-billion-DM capital 
1 this fall and a possible 1- 
3M profit on the Flick 
ion, Deutsche Bank will be 
ud to spread its iniema- 
ase, after the establishment 
ament-banking operations 
on last vear and Tokyo just 
ilh. 

she Bank, moreover, like 
st German commercial 
ws “hidden," or unrepori- 
"ves that, when not tied up 
■ loan risks, can be put to 
ftrd profits or growth. It 
well-placed as a leading 


creditor to the Soviet Union and 
Easton Europe, where West Ger- 
man companies arc expected to 
land major contracts under new 
five-year economic plans. 

Investor confidence in Deutsche 
Bank’s prospects has been reflected 
in the surge of fee bank’s share 
price on the Frankfurt exchange. 
Last week, the bank's sh ares went 
past the 900-DM level for the first 
time, culminating a sharp climb 
from the low of 374 DM m April. 
Deutsche Bank closed Monday at 
9143 DM, up 193 DM from Fri- 
day’s close: Dresdner Bank was at 
415 DM and Commerzbank at 
33330. 

“Deutsche Bank has fee good 
fortune to have a name that sug- 
gests a kind of broad national inter- 
est,” said Harms G SchrOder-Ho- 
henwarth, bead of the West 
German Association of Banks. 
“That name attracts business from 
abroad and within the country.” 

The FHck transaction, he said, 
can only widen fee bank's interna- 
tional prestige, after fee bkrik’s suc- 
cess in bringing prominent family- 
owned companies, snch as the Axel 
Springer publishing house, the lux- 
uiy-car maker Porsche, computer 
maker Nixdorf, and detergent 
maker Henkel to the stock market 
in the past two years. 

Deutsche Bank's 5-bilHon-DM 
takeover of Flick, fee nation's larg- 
est buyout, illustrates fee way that 
big acquisitions are handled in 
West Germany. Unlike the wave of 
hostile takeovers that has hit U.S. 
and British industry, large buyouts 
in West Germany usually are done 
on fee most friendly of terms wife a 
leading h ank, more often than not 
Deutsche Bank, presiding over the 
closed negotiations. 

In fee case of Flick, a takeover 
by Deutsche Bank was certainly 
friendly because of the position of 
Friedrich Kari Flick, the group's 
founder and only owner, on the 
supervisory board at Deutsche 
B ank and because of Deutsche 
Bank's history as house bank to 
Flick. 

The takeover of Flick followed a 
major payoff in West Ger- 

many, in which a senior Flick exec- 
utive and two former economic 
ministers, including Mr. Lambs- 
dorff, were indicted. Die three are 
now standing trial on tax-evasion 
and bribery charges related to al- 
leged efforts by fee company to 
obtain tax exemptions on capital 
gains. 

Despite Deutsche Bank’s prom- 
ise to offer the entire Flick acquisi- 
tion to the public through share 
offerings, Mr. Jens of fee Social 
Democratic'Party said fee transac- 
tion is a “dangerous development” 
because it is a case of industrial 
activity being orchestrated by big 
domestic banks. 

Because West Goman corpora- 
tions tend to be undercapitalized 
— resorting to bank credit as fee 
sole source of finance— the role of 
big banks in industry as both credi- 
tor and direct investor is considera- 
bly more pronounced in West Ger- 



F. Wilhelm Christians 

many than in other Western 
economies. 

The dyng pr of b anks buying 

huge financial stakes in West Ger- 
man companies, Mr. Jens said, is 
that the companies, especially 
small to midsize ones, come under 
pressure to produce rapid divi- 
dends to bank shareholders rather 
than concentrate on longer-term 
strategy aimed at improving inter- 
national competitiveness. 

“The powerfully represented in- 
terests of German banks on the 
supervisory boards of German 
companies are not always in tan- 
dem wife fee interests of the com- 
panies’ executives” or other share- 
holders, Mr. Jens said. 

Mr. Lambsdorff concurs, noting, 
however, that concern should not 
be centered on Deutsche Bank 
alone but rather on fee broader 
question of West German bank in- 
fluence on industry. 

“I believe there is ample reason 
today to reconsider measures I had 
proposed both in 1975 and 1979 to 
limit the degree to which banks can 
hold stakes in industry,” Mr. 
Lambsdorff said. “As fax as Deut- 
sche Bank is concerned, I think 
there are responsible people man- 
aging the bank. Nobody here 
thinks those managers abuse the 
economic power that Deutsche 


companies feat commercial bonks 
could possess. 

Before fee FHck transaction, 
some uneasiness about fee extent 
of bank influence on industry had 
been sparked by Deutsche Bank's 
role last October in the proposed 
takeover of fee electronic conglom- 
erate AEG AG by Daimler-Benz. 

In addition to being Daimler’s 
largest shareholder, Deutsche Bank 
was a major creditor to AEG be- 
fore fee takeover bid and was 
strongly represented on the super- 
visory board along with officials of 
Dresdner Bank, fee chief AEG 
creditor. Eyebrows were raised 
over Deutsche Bank’s presence be- 
ing felt cm both ends of fee negoti- 
ating table 

Wolfgang Kartte, the country's 
chief antitrust official, and Otto 
Schlecht, senior state secretary in 
the economics mmistiy, last month 
warned commercial banks about 
attempting to obtain decisive 
stakes m industrial companies — 
for themselves or for a third party 
— by pooling their minority inter- 
ests m ways feat would escape the 
need to meet approval of the Fed- 
eral Cartel Office. Mr. Schlecht 
said his office was considering a 


The case of preponderant bank 
clout most often cited by the West 
German press involved Deutsche 
Bank representatives on the super- 
visory board of Daimler-Benz mak- 
ing sure, two yean ago, feat their 
choice for chairman at Daimler, 
Werner Brdtschwerdt, was in- 
stalled over (he man widely be- 
lieved by the stock market to be the 
likely candidate, Edzard Reuter, fi- 
nance chief at Daimler. Deutsche 
Bank is fee largest Daimler share- 
holder and holder of the superviso- 
ry board chairman's post 
To contain what it deems undue 
bank, influence, the Soda! Demo- 
cratic Party is reviving debate in 
the Bundestag about passing laws 
that would limit the sire of a bank’s 
holdings in individual companies 
to 10 percent. Other party propos- 
als would limit the number of su- 
pervisory board seats in industrial 


tea Office approval of minority 
claims. 

Alfred Herrhansen, sdected last 
January to join Mr. Christians as 
bank co-chmrman, denied specula- 
tion at a press conference last 
month that Deutsche Bank was 
weighing fee creation of a holding 
conmany that would separate the 
bank’s industrial holdings from its 
core credit business. 

But the banking association 
president, Mr. SdrrOder-Hohen- 
warth, thinks such a move could 
take fee heal off Deutsche Bank in 
a productive way: “The creation of 
a holding company, as we have bad 
at my bank [the Frankfurt-based 
BHF-Bank] since 1881, would be a 
good device with which Deutsche 
could respond to criticism that the 
bank is exercising too much influ- 
ence over industry” 


United Airlines 
Reducing Fares 

Reuters 

CHICAGO — UAL Inc-’s Unit- 
ed Airlines said Monday that it will 
reduce its fares for domestic travel 
during fee winter months but will 
increase feres in two steps for the 
summer months. 

Hie latgest U.S. air carrier said it 
was acting in response to winter 
and holiday sales being offered by 
its competitors. United said it wifi 
offer discount fares at about 75 
percent below regular coach Dare 
levels between Jan. 8 and March 
Ml The fares will apply to flights to 
and from Alaska but not to Flori- 
da. 

Between March 21 and May 31, 
fares will be increased by $20 to 
$40 round trip, the company said. 
After June 1, fares will be increased 
another $20 to $40 round trip. 


cent is held by two directors of 
European Femes. 

European Fanes runs Town- 
send Thoresen cross-channel ferry 
services and has property, harbor 
and other assets. Il had 1984 pretax 
profit or £44.7 million . 

Analysts said fee acquisition of 
fee stake heralded a possible take- 
over bid for the whole group- The 
acquisition gjves P&O’S chairman, 
Sir Jeffrey Sterling, a seat on the 
European Ferries board. 


eramen l- ap p ointed commission, 
according to a statement from 
Prime Munster Olof Palme’s office. 
The issue, restricted to key execu- 
tives and directors, was criticized 
by the Swedish Shareholders’ Asso- 
ciation. 

Marriott Corp. and Swire Prop- 
erties Ltd. said they have entered 
into an agreement to build a 600- 
room hotel in Hong Kong. Sources 
said estimated total value of the 
investment at 900 million Hong 
Kong dollars ($115.4 million). 

Pernod Ricard, the French bever- 
age group, said it will pay an inter- 
im dividend of 1425 French francs 
($1.85) for the year ending Dec. 31 , 
an increase from last year’s interim 
dividend of 1330 francs. 

Plessey Co. of London said its 
Plessey Telecommunications prod- 
ucts subsidiary has won an order 
worth more than $5 millio n for so- 
called “intelligent” payphones 
from Ameritel Communications 
Corp. of Florida. 


MGM would have u> rdy on fi- 
nancing from “third parties” rather 
than internal funds or bank loans, 
fee filing said. This “could result in 
fewer pictures being produced each 
year, and may restrict MOM’S abil- 
ity to attract successful indepen- 
dent producers,” the statement 
said. 

“This just focuses on how lever- 
aged it is, and how poorly the com- 
pany is doing," said Dennis L 
Foist, an entertainment analyst at 
Seidler Amdec Securities in Los 
Angeles. 

"The pluses il has gong for it are 
feat Turner wants to buy it badly, 
and Kerkorian wants to sell it bad- 
ly, and Drexel says it is confident of 
raising fee money,” Mr. Forst said. 

Ted Turner, fee chairman of 
Turner Broadcasting, has been fee 
driving force behind the acquisi- 
tion, while Kirk Kerkorian, the fi- 
nancier, has been eager to sell 
MGM and to buy back its United 
Artists subsidiary. Drcxd Bum- 
ham Lambert Inc. has been trying 
to raise the money for fee transac- 
tion. 

MGM has been having a diffi- 
cult time, and in the fiscal year 
e nding Aug. 31 it lost S11S-8 mil- 
lion. In the final quarter of feat 
period, it had a loss of $493 md- 
iion. partly because of a legal settle- 
ment. 


Reuters 

LONDON —A newplan w res- 
aw the International un Council 
has been proposed, one feat would 
establish a company to buy up the 
cartel's metal stocks to hold prices 
steady, banking and ITC sources 
said Monday. 

Peter Graham, senior deputy 
vice rfiafrmnp of Standard char- 
tered Bank, said that he and Ralph 
Kestenbaum, joint managing direc- 
tor of Gerald Metals, had proposed 
fee new rescue plan to banks, bro- 
kers and fee 22 member countries 
of the ITC. 

He said both men were acting in 
a personal capacity. 

World tin trading was baited 
Oct 24 when the council ran out of 
cash necessary to prop up tin 
prices. The London Metal Ex- 
change, the world's largest tin trad- 
ing forum, last Friday set a January 
deadline for resolution of the crisis. 

Sources said that the proposed 
company would be owned by bank- 
era and brokers and would have a 
risk capital of about £270 mfllion 
($383 million). It would buy up fee 
ITC tin stocks and slowly release 
them onto the market over fee next 
three years, they said. 

Under fee plan, the sources said, 
FTC nations would be Treed from 
their obligations to the council by 


Manila Expects Economy 
To Contract Again in 1985 


Agatct Fnmtx-Preae 
MANILA — Prime Minuter 
Cesar Virata said Monday that the 
Philippine economy will contract 
for fee second consecutive year in 
1985, but added feat an upturn is 
expected next year. 

He also said that the government 
would next month seek another 90- 
day moratorium on maturing for- 
eign-loan principal and would con- 
tinue to do so until part of the 
country’s $253-biBion foreign debt 
was restructured. 

“This year, the country’s perfor- 
mance is only slightly better than 
that of last year” said Mr. Virata, 
who also is the finance minister. He 
added that the economy is expected 
to shrink by “33 to 4pereenL w 
Growth of 1 percent to 13 per- 
cent should be recorded next year, 
he said. 

The gross national product fefl 
by 5.4 percent last year, the coun- 
try’s worst since World War ff, 
with the advent of an economic 
crisis spawned by the August 1983 
assassination of the opposition 
leader, Benigno S. Aquino Jr. 
GNP measures the total value of 


a nation’s goods and services, in- 
cluding income from foreign in- 
vestments. 

The government obtained a mor- 
atorium on payments of loan prin- 
cipal two months after the assassi- 
nation and has been paying only 
interest since October 1983. 

_ Mr. Virata said that the Interna- 
tional Monetary Fund's executive 
board on Friday approved the gov- 
ernment’s economic restructuring 
program, «nnhKng fee nation to 
draw from fee third installm ent of 
a 56 10- million IMF loan. 

He said release erf 1 fee third 
tranche, worth $210 million, will 
enable fee country next month to 
draw from fee second installmen t 
of a S925-million loan from over- 
seas commercial bank creditors. 
The installment is worth S175 mil- 
lion. 

The loons are part of a SlO-bO- 
Iion rescue package obtained by fee 
Philippines earlier this year. The 
withdrawals also will mean con tin- ! 
ued restructuring of $5.8 billion in 
obligations from official and com- 
mercial creditors. 


making contributions totaling 
about £200 million. 

Previous ITC rescue plans have 
failed because most member na- 
tions have refused to back any refi- 
nancing loans. 


Gnb Med Leases 
Beijing Villas 

The Associated Press 

BEIJTNG — Two villas at fee 
government-run Imperial Sum- 
mer Palace in Beijing will be- 
come a Club Mediterran6e va- 
cation resort in China, a 
government spokesman said 
Monday. 

A palace spokesman, who 
identified himself only as Mr. 
Xu, said the lease with Chib 
M&liierranee SA of Paris was 
signed Nov. 30 in Bering. 

The chib will occupy two 
sites at fee 692-acre (278-hecl- 
are) palace, built in 1888 by fee 
Empress Dowager Tz’u-hsi wife 
money originally intended for 
fee imperial navy. The leases, 
beginning in January 1986, in- 
clude several dozen suites for- 
merly used as palace guesth- 
ouses. Mr. Xu declined to 
discuss leasing costs. 


FOREIGN & COLONIAL 
RESERVE ASSET FUND 

FTCES AT 17,1 Z85i 
A i US. DOtLAR CASH (1023 

B : MULTICURRENCY CASH Sll-5* 

C: DOLLAR BONE 5)1.06 

D : MULnCURRENCY BONDS $1269 

E : 5TBUNG ASSET E1049 

FOBBGN& COLONIAL 
MANAGEMENT (JBSEY) LIMITED 
14 MUCASTS Sira^ST J€UBUSSEV,CJ. 
TEL 053C7351 TELEX. 4192063 

FOB OTHER f 8, C FUNDS, SBE 
INTERNATIONAL FUNDS UST 


For the latest information on 
De Voe- Holbein lnienutional nv 
and G tv -Clock International nv 
please rail collect 31-20-627762. 


SEASONS GREATTNGS AND 
A VERY PROSPEROUS 1986. 

Please note: our sales office 
will be closed from December 20 
to Janiuiy 6. The accounts 
department remain open. 


First Commerce Securities bv 
World Trade Center 
Strawinskylann 8S7 
1077 XX Amsterdam, 

The Netherlands 
Tela: 14507 firco al 


FIRST 


In August 1985, Research Services 
Ltd. released a study of the reading 
habits of international financial 
managers in Europe. 1 * The study 
showed conclusively that more read 
Institutional Investor than any other 
magazine ...including : 

• The Economist 

• Euromoney 

• Business Week 

• Fortune 

• Time 

• Newsweek 

• Der Spiegel 

• Le Nouvel Economiste 

In fact, in virtually every category- 
from job responsibility of financial 
manager to industry to geographic 
location, the story remained the 
same: Institutional Investor ranked 
first 

And if worldwide leadership is not 
reason enough to advertise in 
Institutional Investor, here is another: 
thanks to strengthening international 
currencies, coupled with a new rate 
structure, an advertising schedule in 
1986 will cost international 
marketers significantly less than it 
did in 1985. 

Put first things first Contact your 
institutional Investor account 
executive today. Or, contact 
Christine Cavolina, European 
Advertising Director, in London at 
(01) 379-7511. In New York, contact 
Denise C. Coleman, V.R & 
International Advertising Director at 
(212)303-3388. 


■Cosponsored by Business Week, ThB Economist, 
Euromoney, The Financial Times. Institutional Investor 
International and The Wall Street Joumaiy&jiope. 


Insti 


i 





Page 12 


INTERNATIONAL 


Mondays 

AMEX 


Closing 


Tobtes include the natfonwfda prices 
up te the closing on Wall Street 
and <to not reflect late trades elsewhere. 


S3 5*i 5* Sft— ft 

.16 141 ID 35 15* 15ft 15ft 
.10 .9 H 75 IT* 11 11 

11 447 516 5ft 5ft 

IB 3* 3% 3* + ft 

S_S2» SJ 75 93* 97* 93 — * 
6 » » 3Ui— Uh 

J3 2S 31 21 lift 1114 lift + ft 

15 131 12* 12ft 12ft— ft 

234 lft 1ft 1ft 

9 ft ft ft 

7 33 2ft 2ft Jft + ft 

•« - 417 2 S 2 & 2 £^-* 

- , - ia ,1 

9 144 8 7ft 7ft— ft 

J ^ '■ffrlf 

11 14 117V. 1 17ft 117ft 

60 tft 6ft 6* 

4 1ft lft lft— ft 

48 11 IP*. l#ft + ft 
J3Si B7 10ft 10ft IMS- ft 

2ft ft ft ft 

175 IIL7 2007 35Vi 33 33 

42 445 30ft 23ft 29 —1 
.06 34 114 2ft 2ft 2ft— ft 

JO 1 S 20 681 14 13ft 13ft— ft 

jk i jo km sft a a — ft 

Sms 22 10* in* in* 

12 4 6ft 6ft 6ft— ft 

DOG U IS 4 60* 60ft tOft + ft 

494 51ft 49 49ft— lft 

54121002 6ft 6ft 6ft 

51 23007 6ft 6ft 6ft— ft 

9 496 4ft 4ft 4ft— ft 

4 40 flft 7ft 7ft— ft 

f U 65 24 1 3ft 13ft 13ft 

3 18 65 B 13ft Uft 13ft— ft 

202 5ft 5ft Sft— ft 

16 42 3ft 3 3ft 

LOO 42 15 7 4BW 47ft 47ft— 1 

126 ft ft ft 

J46 1.8 19 42 13ft 13ft 13ft 

4 11 Bft 8 IV. + ft 

inSalii 917 12ft 12ft 12ft 


.15 M 5 
12 

lJXkl 16 15 


51 18 65 

52 18 65 


16 

24)0 42 15 



ft ft— ft 
3ft 4 + ft 
3ft 8ft— ft 

15 15ft + ft 
7ft 8ft + ft 
Tft 7ft + ft 
6ft 6ft + ft 

26 26ft— ft 

* M 

37ft 37ft— ft 
3ft 3ft— ft 

I** 2 S *±JS 

ft ft — 

16 16 — ft 

ft 1 + ft 

30*. 31 + ft 

20*. 20ft— ft 
15ft 16 + ft 

35 25 + ft 


26ft 16ft l 
3ft Uft I 
12 4ft 1 
3Tft 13ft I 
ftft left i 
30ft lift I 
7ft 3ft| 
7ft 4 I 
I 4ft < 
7ft 4ft < 
m n i 
aft 16* t 
18ft 6ft I 
14ft Bft I 


14ft 11 Jodvn SOb 44 11 27 lift lift lift— ft 

7ft 5ft Jacob* 13 II 4 5ft 5ft 

4ft 2ft Jot Am 6 223 3ft 3 3 

lft fcJetAwt 28 ft ft ft— ft 

9ft 6ft Jetron 711 89 13 43 8ft 8 8— ft 

6ft 2ft John Pd 32 3Vh 3U 3ft 

lift S JohnAm JO 48 9 311 6ft 6ft 6ft 


lift 6 Johnlnd 
6ft 2ft JumpJk 


» tA n w 
30 3ft 3ft 9ft— ft 


II 


20 177 4ft 4ft 4ft — ft 
)pr 255 75 4 47ft 47ft 47ft— ft 


72 75 18 
105 


9 6ft 6ft 6ft— ft 

71 tft 2ft 2ft — ft 

34 8ft 8ft 8ft + ft 

188 2ft 2 7 — ft 

1 9ft 9ft 9ft + ft 

10 8ft 8ft ffft 

34 ft ft ft— ft 

3 17ft 17ft 17ft— ft 

84 lft 1ft lft 

166 2ft 2ft 2ft— ft 

3< 5ft 5ft 5»li— ft 
15 4ft 4ft 4ft — ft 

283 4VS 4ft 4ft 

27 9 8% Bft— ft 


9ft 6ft 
16ft 13ft 
8ft 5ft 
Bft 2V5 
3ft 2 
23ft 17ft 
« 30ft 


2ft ft 
25ft Uft 
7 2ft 
Bft 2 
131s 10**3 
7ft 2ft 
ft 

“ft ”15 


2D U 1 27 9 Bft Bft— ft 

15 13 21ft 21ft 21ft— ft 

JO 24 52 181 lft Bft 8ft 

13 6 Uft Uft Uft — ft 


’?£ 

3* 2ft 
12ft 8ft 
9ft 4ft 

25^,15 

4ft ft 
37ft 33ft 
3446 BVj 
low 6ft 
10ft A 
II 6ft 


a 13ft 13 13 — ft 

807 ft ft ft 
22 3ft 3ft 3ft 
14 2ft 2ft 2ft 
51 lift 13ft Uft— ft 
29 18 1714 18 + ft 


EAC AO 44 35 59 

EECO 32 11 27 67 

ERC II 1ZI 

ESI 371 47 12 48 

EaotCI 355 

EanCo U» 54 9 1 

EstOP 6.96621-3 7 16 

Echoe 9 .12 1526 

ELAudO 101 

ElcAm 140 54 11 94 

EtetSd 48 144 

Elsincr 639 

EmMed -S3« J 8 

Em Cor 4 22 

EovDvWl 14 

ECvtun 130e26.7 104 

EngMot 131 

EnoOII 6 14 

Enr&v 107 

Enstrpt 48*160 38 

Eralnd 9 156 

Eskiy 3 

Eskcv pf 110 14J 9 

Esoev A0 23 8 42 

Esprit 37 

EwRd ,720 19310 T 

EtiLov .lie 1J 12 119 

EvrjB .10 1.0 25 3 

EurJA JO 20 25 34 

Excel 40b 14 IS 110 


816 Bft 
15ft U 


8 7ft 
2ft 2ft 
18ft 18ft 
32ft 32ft 

"to 1 * 
26ft 25 
6ft Cft 
3ft 2ft 
12ft Uft 

•ns ”* 

7ft 7ft 
ft ft 
3ft 3 
10ft 9ft 
7ft 7ft 
7ft 7 
Uft 17ft 
lft 1ft 
37V. 37ft 
9ft 9 
10ft 10ft 
10ft 10ft 
lift 18ft 


Bft— ft 
Uft + ft 
Bft— ft 
Tft— ft 
2ft 

18ft — ft 

32ft + ft 

'*%-* 
2Sft +1 
6ft— ft 
3 + ft 

12ft + ft 

¥“* 

"ft-* 

7ft 

ft 

3 —ft 
9ft— ft 
Tft + ft 
7 —ft 
18ft + ft 
lft 
37ft 

9ft— ft 
10ft— ft 
10ft— ft 
1116 + ft 


2U KopohC 2 

10ft KnvO» JO 1.1 13 
10ft KayJn 30o is U 
10 KearNt 40 It 19 
14ft Keldrni 451 3J) 21 
2ft KevCoB .151 46 6 

2ft KevCaA -ISO 5J> 5 
7ft KeyPti J0t 26 

2ft KvrCa 8 

ft KoyCowt 
2ft Klddewt 
3ft Kllern 14 

3ft KInarfc 
2ft Kirby 

4 K31 MfO 14 

2 KJeerV J83r 14 
10ft Knoll 14 

2216 KaaerC 232 84 96 


25 3ft 3ft 
34] T9ft lift 
58 T7V6 Mft 
17 Uft Uft 
112 Eft 21ft 
14 3ft 316 
10 Tft 3 
790 11 10ft 
123 2ft 2ft 


'S TMC 

200 3 2ft 

5 4ft 4ft 
28 3ft 3ft 
522 2ft 2ft 
H 5ft 5ft 
EMM 
98 Uft Uft 
93 27ft 26ft 


3ft— 16 
19 + ft 

Uft— ft 
Uft + ft 
2116— ft 
316 + 16 
3 

HTft— ft 


3 +16 

4ft— ft 
3ft- ft 
2ft 

Sft + ft 

236— 16 
13ft— ft 
77 






3 I Aloha Inc 
j? Claremont 
** Excel rod 
1 Fanmcty B 
Kay Jewel n 
MlnPLpfB 
NewProc 
SDFe 9B4pf 
UnAirPrd 


Am Coni ind 
CrossAT 

Foblndiret 

GormanRun 

Lvdall 

MinPLptC 

NWldPId n 

SeobrdCp 

VircoMI 


BJnfciMfe 
ERClntl 
Firstcorps 
% HU SCO 
Marti V* 
Moog B 
PltDesmn 
SCE 120 p* 
Vulcan Carp 


BrowiFor A 
ElecAm 
(- or rvTChr 6 
Kay Carp 

Mm PL ptA 

Maog A 

PlrCems 
Teton Rncti 
LYltcPL o> 


3ft 

ft UNA 


17 

* 

ft 

ft 

3ft 

2ft USR Ind 


17 

2ft 

316 

2ft 

23* 

Bft Llttmte 

IB 

481 

37ft 

37ft 

22ft + ft 

1316 


22 

398 

lift 

lift 

Uft— ft 

15ft 

12ft Unkppf 75 SJ 


11? 

Uft 

14ft 

14ft + ft 

lift 

8ft Unlmor 1.93*184 


155 

10ft 

ID 

10ft— ft 

23ft 

1416 UAFrPd 54b 23 

14 

13 

23ft 

23ft 

23ft + ft 


AnselosFn n CMX Q> 
Hllcrelnt n MavEnav 

Petra Lew Slerraan 

WIckespfA 


,ow5 n p 

Cordl toTrv DomsEiw A 

McDowEnt NowOryErg 
watscoA wtcnitoind 


Dragonair Wins Licenses 
To Fly to 8 China Gties 


Re venue and profits or lenw. in mllltom. are In toco/ 
currencies unless athen&lte Indicated. 


BHP 

lit HMf 1985 1984 

Revenue 4470. MAO 

Profit* 5744 a&J 

Per Shore 0452 0347 


Ut HoU 1985 19M 

Revenue 1270. 2.(50. 

Oper Net 949 8541 

Oper Shore— 2.13 137 


RevcoD.5. 

2ndQaar. 19*5 198* 


Sumitomo 

1st Hoff 19*5 1984 


Revenue 7.19 T 642 T 

Profits 18430. T7.U0. 

Per Shore — 2697 2532 

T: trillion. 


Revenue — 
Not Inc — 

IT—- T|u-- 

"a dinar- 

1st Half 
Revenue — 
Not Inc — 


6014. 5166 

553 184 

817 028 

1985 1984 

i.iBo. uac. 
148 217 


Per Shore— - 044 Oja 


HONG KONG — Dragonair. the fledgling 
Hoag Kong airline, won its first battle for a 
share of the growing China market on Monday 
by gaining licenses to fly to eight Chinese cities. 

After a week of public hearings, Hong Kong's 
Air Transport Licensing Authority granted per- 
mits Tor scheduled flights to Guangzhou. Xian. 
Xiamen, Hangzhou. Haikou, Zhanjiang, Guilin 
and Nanjing. But it rq'ected the airline's bid to 
fly between the British colony and Bdjine and 
Shanghai. f 


VahedStatM 


IMf net botltperiado includes 
cttaroe of s2a million from 
tknMotton. 


American Medical 

tstQaar. 1905 1984 

RSVtnU* 8052 6006 

Net Inc 28J 426 

Par Sharp — 033 051 


Untvor 

3rd Q Mr. 1985 1984 

Revenue 344J 2407 

Net Inc 296 233 

Par Share — 053 asi 

• Moan* 1985 1984 

Revenue 7307 7217 

Net Inc 742 134 

Per Shore— U2 235 


19t4 not Includes gains a! 


Shanghai. f 

Hong Kong's established airline, Cathay Pa- 
cific, had opposed Dragonair's plans to fly to 
those two dues, arguing that there was not 
enough business. The authority agreed but said 
Dragonair could apply again if business in- 
creased. 

Britain and China must approve an increase, 
in scheduled flights between the two countries 
before Dragonair can use its new licenses. Dra- 
gonair was established earlier this year and has 
only one plane, a Boeing 737 which it leases. 


The Daily Source for 
Internatio n al Invest o rs, 































































INMRNATIONAii HERALD TRIBUNE, TUESDAY-WEDNESDAY, DECEMBER 24-25, 1985 


Page 13 


lecession Forecast 



jNDON — After years of 
aiic expansion fed by a worid 
yyQ the banking industry in 
jfllf is shrinking and bankers 
jodoa have said that they aer 
^significant further contrac- 


snccessfnl operations, in L ondon 
ahead of next year’s capital market 
Ixber aiizanoa, and in Tokyo, are far 
higher priorities for international 
banks. 

Bahrain also has suffered from a 
general shift in attitudes ai interna- 
tional banks, the bankers said. 


r is being thwarted by eco- 
c recession in the Gulf, 
ht about by falling oil reve- 
afld a worldwide dnve among 
ladonal banks to cut costs. 
/aybody*s trying to find ways 
uce costs and to reduce their 
ice in Bahrain,” said one se- 


. re- 
director, Middle East, for 
*ys Bank PLC "We now get 
a better return by watching costs.” 


ers said, by a lack of high-quality 
lending opportunities, a perception 
wu.iteu.nu. »«««*- &!TS } y what manystiS 
banker. But, he added, “I f** 1 1 ** < ?P™ ce ***** 
dnhk many more are going to jSSHfJJJjf 1 * vatica ^ 

Banker said they find it almost 
impossible in Saudi Arabia to en- 
force judgments bad debt- 
ors, even those who are able to pay, 
largely because of the nation's un- 
derdeveloped legal system. Thai 
has imdoubiedly bad an impact on 
the reputations of quality borrow- 
ers in Saudi Arabia, bankers said. 
The legal system is based on Is- 
lamic law, which generally forbids 
dy to regain it in the next two usury. And bankers said they be- 
ce years.” lieved it is unEkdy that the system 

c reason is that estab li shing will be changed despite the prob- 



CURRENCY MARKET5 


Dollar Drifts in Ho-Hum Trading 


usm has more than 70 off- 
banking units with total as- 
rf about $55 bflhon. A few 
dosed but most have so far 
[ down operations, in some 
substantially, to cm costs, 
ve years ago, the Middle East 
ujie a high profile in terms of 
jtffinm- and long-term plans,” 
i senior international banker, 
it's lost that profile and is 


Customers doing business at the National Bank of Bahrain. 


Th« Nn> VbrkTa 


lems. “It’s too sensitive an issue,” personal knowledge of the borrow- 
er. 


said cam. 

"The irony of the situation is 
that the banks are going back to 
name lending,” said Cnristaphei 
Htis, a regional msmawr for Mid- 
land Bank PLC 

‘‘Name lending” was co mm on in 
the early days of the Gulf cnl boom 
what, in the absence of reliable 
financial assessments, banks lent 
on the basis of Bale more than 


xon to Take Stake in Yemen Oil Agreement 




1 : \ 


— Xhiud Press International ' 

■W YORK — Exxon Corp. 
oriced Monday that h had 
]i- d to acquire Hunt Ofl Ca’s 
■sweent interest in an ofl pro- 
on-shaiing agreement with 
Yemen. Specie terms woe 
’■ isdosed- 

e North Yemen gpvanment 
approved the assigning of 
*s interest to Exxon, 
der the a gr ee m ent. Hunt and 
n have set up a joint venture 
xlnce and transport ofl from 
vfif ofl field, which has just 
classified as commercial with 
_ mated 400 miSjon barrels of 


recoverable ofl reserves. The pact 
also calls for Hum and Exxon to 
search for additional cal finds in the 
jointly hdd areas. 

The Hunt land abuts other areas 
held by Exxon in North Yemen 
under a separate production-shar- 
ing agreement with the government 
that is not affected by the joint 
venture. 

Yemen Hunt Oil Co. was award- 
ed its production-abating agree- 
ment covering about 4 million 
acres (1.6 million hectares) in 1981. 
On July 4, 1984, Hunt discovered 
the Ahf field, the first oil strike in 
North Yemen. Yemen Hunt wiH 


continue as the operator of the 
joint venture with Exxon. 

■ Exploration in fiima 

Texaco Inc. and Chevron Corp. 
a n n o unc ed Monday that their sub- 
sidiaries had signed a new agree- 
ment far additional col tmfl gas ex- 
ploration off China's shores. 
United Press International report- 
ed from New York. 

Texaco Petroleum Maattschap- 
pij (Nederland) and Chevron Over- 
seas Petroleum each have a 3316- 
percent interest in the area in the 
read River Mouth Bum. 


Hie recession »hn has ^ its 
impact on Arab banks based in the 
Gulf, some of winch have suffered 
a reduction in credit lines from in- 
ternational banks worried about 
poor loan portfolios. 

Bankers in London said that cen- 
tral banks in the Gulf region are 
trying to introduce new rules to 
enforce greater recognition of non- 
performing loans, but are ham- 
pered by concern that Westem- 
-siyie regulations would wipe out 
the net worth of some banks. 

“There has been a lot of concern 
about major i nt e rnati onal hanks 
riirting back fines to the Gulf 
states, which tends to show a lack 
of understanding of how these 
countries operate,” Mr. said. 

While most bankers said they 
believed that central banks in the 
Gulf would want to bade up any 
bank in difficulty, they admit ttm« 
they have become more selective 
about which Gulf banks they are 
exposed to. Most said then- 
sure to the rqpon as a 
not fallen by mnch- 
The downturn at home has led 
the Arab banks themselves to wid- 
en their businesses. 


Tran the Gulf banks' point of 
view, with business decl ining at 
home, we have had to become more 
outward-looking,” said Christo- 
pher Fielder, executive manager for 
foreign exchange and treasury for 
the National Bank of Kuwait. 

For other banks, one reason to 
stay in the Middle East is to be 
closer to the recipients of their 
inane Others think they p pri find a 
specialized area in whkh they can 
make profits, particularly in offer- 
ing investment banking and advice, 
or in trade f fri*npr 

However, some bankers mast 
that the professed enthusiasm 
amreig Tronic* for investment ser- 
vices is nothing more than a reflec- 
tion of a <M?n e in the main busi- 
ness areas. 

Some analysts see for the re- 
gion's economies in Saudi Arabia’s 
bid to raise its share of the wodd oil 
marke t- Unless pohey leads nil 
prices to collapse, government rev- 
enues will rise. 

This suggests government spend- 
ing the motor <5 the Saudi econo- 
my, may have bottomed out in (be 
summer when oil output sank to a 
20-year low of two minion barrels 
per day. 


CtmpUedbp Oir Staff From Duptaches 

NEW YORK — The dollar end- 
ed Iowa in Europe and mixed in 
the United States Monday after 
drifting for most of the session in 
very quiet pre-Christmas trading. 

Dealers said there was no inter- 
est in taking new positions and lit- 
tle reaction to favorable U & per- 
sonal income and consumption 
data released early in the session. 

This is a holiday market that is 
not in any way anxious to make any 
moves," said Jeffrey Mondscbein, a 
trader with Merrill Lynch Interna- 
tional in New York. 

“Everyone is tucked away in 
their beds hoping Santa arrives,” he 
said, adding that many Foreign ex-, 
change offices in both Europe and 
the United Slates will be dosed 
Tuesday and Christmas Day. 

In Frankfurt, dealers said that 
spot trading (hoe amounted to un- 
der $100 nriHion Monday com- 
pared with the tens of billions of 
dollars ififl f they no rmall y 
in the count of a day. 

"No one’s home," one bank 
deala there said. “It’s Christmas." 

In New York, the dollar rose to 
2.5090 Deutsche marks from 


15075 on Friday and to 20160 yen 
from 20140, but slipped to 7.6800 
French francs from 7.6925 and to 
11000 Swiss francs from 1I0S0. 
The British pound fell to $1.4260 
from $1.4315. 

In earlier trading in Europe, the 
dollar slipped in London to 15050 
DM from an opening 25105 and 
Friday's dose of 15100. It also 
eased to S1.429S against the British 
pound from $1.4245 on Friday; to 
2(1145 yen from 202.63, and to 
11005 Swiss francs from 21110. 

Dealers said the reported 0.6- 
perceni rise in U^. personal in- 
come in November after a revised 
03-percent rise for October was 
slightly better than expected, but 
left the dollar unmoved. 

The Commerce Department also 
reported a healthy 0.9-percent rise 
in UJS. personakttnsumption ex- 
penditures for November after a 
1.4-parent decline in October, but 
markets did not react to this either, 
dealers said. 

One UJ5. hank deala said the 
few trades done during the session 
were modest in size as customers 
tidied up their year-end books. He 
said the market has turned its at- 


tention from economic fundamen- 
tals to the chances of a near-term 
cut in UA interest rates. 

The U5. Federal Reserve's di- 
rect injection of reserves on Friday 
with the federal funds rate on over- 
night bank loans trading under S 
percent is being seen os a dear 
signal of the Fed's intention to ease 
credit he said 

"The market will continue trad- 
ing in its current range until we see 
that discount-rate cut.” another 
U.S. deala said. “It has probably 
been discounted in money markets 
but could still move the foreign 
exchange market” 

The discount rate, the Fed's 
charge on loons to member hanks, 
is the rate from which all other U.S, 
interest rates are scaled upward 

In other European markets 
Monday, the dollar was fixed at 
midafternoon in Frankfurt at 
25095 DM. down from 25200 at 
the Friday fixing; at 7.6960 French 
francs in Paris, down from 7.7220, 
and at 1,709.70 lire in Milan, down 
from 1,71725. In Zurich, the dollar 
closed at 21 025 Swiss francs, down 
from 21155. (Reuters, JHT. VPli 


Hopes for Discount Rate Cut Prop Up Market 


Reuters 

LONDON — Most sectors of 
Lbe Eurobond market showed 
hardly any chang e Monday aKi-arf 
of the forthcoming Christmas 
break, with many operators' 
dons now square, dealers sail 

They added that expectations 
that the Federal Reserve Board will 
shortly cot (be U.& discount rate 
— currently standing ai 716 percent 
— continue to underpin the market 
here, although with Fed funds still 
trading at around 8 percent, n re- 
duction is not expected until some 
time in the new year. 

No new issues were launched in 
London during the day and dealers 
do not expect activity in the prima- 


ry market to pick up until the new 
year. 

Dealers said that news that U.S. 
personal income had risen 0.6 per- 
cent in November following Octo- 
ber’s 05 percent rise would usually 
have prompted a slight easing in 
the doDar-straighi market. But with 
trading effectively at a standstill, 
no reaction was seen and prices 
ended with occasional gains of 14 or 
U point. 

But Friday's 5300-million bond 
for the World Bank continued to 
attract demand — admittedly light 
— and rose to unde at a discount of 
about % oo the market. 

Other market activity was limit- 
ed, with one deala commenting, "a 
lot of people didn't bother to come 


in today. That’ll be the case tomor- 
row." 

Trading in the flra ling-rale-note 
sector was also extremely thin, with 
prices generally showing little 
change from Friday's closing lev- 
els. 

Sterling straight bonds were ba- 
sically steady, in line with the Brit- 
ish government bond market, while 
US. convertibles eased during the 
afternoon following the opening 
falls on Wall Street, dealers said. 

Market-making in Japanese con- 
vertibles effectively ceased after 
midday, with prices generally end- 
ing above Friday's closings follow- 
ing the overnight rally in share 
prices, which more than canceled 
out the losses seen on Saturday. 


Monday^ 

OTC 

Prices 

NASDAQ price* as of 
3 pjil New York Nan. 
Via The Associated Press 


DMonm 
mu Low Sloe* 


Salts bi . 

pi*, mi. ini mm Lw 3 pm. are* 



Mm In 

Mb HW 


Low 3 PJL QUM 




31% WftCFdBk# 

4% m Cenntfc 
330k 8* CetUS 
*16 3V» CbapEn 

27% 15% CharmS 
21% UftChkPnt 
11 6% ChkTch 

31* W% 
mu. m 
15 9% 

14% 8% 

31 31% Chi POCS 

I TV, 6% Qtnoar 
25% raw ChrDwt 
M 25% Onto* 

34 Vi raw Outer 
m, 5 Oerlco 
7V. S 

47ft 27*. 

43% 27K* 

MW 9% 

3JM i 20ft 

2Bft 22 ft 

mb Mft ocaren 
Oft lift amrfRt ZOO 123 
29ft SftdMma 711 

190. 13ft CoaslF 17 

MW 7ft CabeLb 227 

47ft 25ft CocnBH £ta 5 

reu, 17ft Conor m 

I* 1ft Cogeatc 283 

2H T3 Cotenal 580 

7ft 2ft CnMlR 3» 

l«s 10ft OOatmn ZB 

5ft 3ft Con ins 37 

27U. 15ft CdrTl* 227 

22ft 15ft CahNI J4 i4 334 
Wft 5ft Comar a 833 

25 13ft Cancst J3 S Stt 
15ft raft ComAa .15 iz no 
4ft lft Camflai 578 

45ft 33ft Cowrie 230 4J1 47 

45ft 2Cft Cmcatl UM 23 147 
13 Sft CndShg J6 47 2S7 

38ft HU CrowT! l-£fl 4J 4 
4V. ft CemAcn Km 

30ft l«Vi Coralad 38 73 OB 
12ft ■ CaaiSrs .10* 13 3S2 

24 Mft CrapCd s 458 

2S» 14ft CmpCrs 02 15 2853 
4ft 2ft Compos 774 

KM. 5ft CCTC 424 

34 18 Canto 735 

13ft 7ft CmpOt 38 3 2 

8ft 3ft C*rt£nt 302 

15ft Sft CroptH 363 

6ft Cmpldn 777 

Sft CrnoLR .12 15 IS! 

2 CnwtM 774 

Sft CmoPds 347 


24 25ft 
2ft 2ft 
24ft 23ft 
ZU. 3ft 
25ft 24ft 
17 ISVk 
8ft SU 
21 20ft 
7ft 
IDft 



8ft 

6ft 

10ft 

23ft 

lift 



74h CmTsks 455 

3ft Cmmrfn 1SS 

■ 1 Ctfcff 130 

72ft 5ft Camtar 31 

9M S Coaartl 127 

26ft 13ft CnCap 240 175 <30 

18ft 10ft CCOOR 146 154 TH 

» ITU CCapS Z14 174 422 

6ft 5ft CBOFbr 35 

Sft 32ft CnsPap 14 u m 

6ft 1» Consol 457 

44 31ft Canoe 2440 45 3 

18ft Sft CtlHtts 26 

■ 4 Cl Lost 775 

12ft 4ft Cooval 3377 

2Tft lift Caawnw 122 

Sft *T. ChprfUo 1004 

6ft 2ft QoprLsr __ T2M 

22ft 14ft Coots B JO 14 §2 

16ft 5» CapytH 2S7 

9U 6 Cdtcdoi JUi 

72ft 7VH Carols 1313 

J1 21ft CotbS/ 5 144 U 147 

5 1ft Corvus 1730 

7ft 3ft Cosmo 105 

16ft 10ft CncBrl .14 U 73 

19 lift Cronus „ W 

27* 20ft CrasTr 40 IS 45S 

14ft 9 CwnBfc 70 

34ft 15ft Crumps _ 32 

28V: Uft CullnFr 44 44 30 

28ft 15ft Culoms 50 25 333 

27 17 c rears 4 


2Hi 2JV 25k-*. 
i m ms ilk 

3m 
m 
art 
33 

Bft ■ 

BVi g 

ms n 

7 

Wilt 8 

2ft 7ft 

Sft 8ft 

23 22ft 

4ft 4ft 41k— ft 

Vt. 1 1ft + ft 

1Mb 1Mb lift + ft 

8 7ft 7ft— ft 

14ft 13U 73ft— ft 

inn raft ms— is 

121* 12 12ft 
7 7 7 

Si 54 54ft— I 

2ft 1ft 3 — ft 
4SU. 45ft 6ft— ft 
Htt 10ft 10ft— ft 
Sft 3 5ft + ft 

lift 1Mb 1Mb — ft 
14ft 14ft 14ft— ft 

'& % 

21ft Zlft 2MM— ft 
15 14ft 14ft— ft 
<ft 4ft <ft 
lift 10ft Wft— ft 
32. 37ft 31ft 
lfc 1ft 1ft— ft 
4 3ft 3ft 
UVl 14 U — ft 
17ft 17ft 17VS— ft 
TFh 22ft 22ft + ft 
Mft 14 14ft + ft 
2Mb 21ft 2Ito 
71ft 31ft 71ft 
20ft 17ft mi— ft 
20ft 20ft 20ft— ft 



2J0 

■47 



an. 

4716— % 






na 

7ft 

dcocmi 

JO 

SJ 


17% 

17ft 

17V* + <6 

fictim 

U6 

34 


36% 

36 

36 

BaeoM 



an 

7% 

7ft 

7% 

as 

78 



10ft 

10ft — % 


200 






2 14H «L7 



9 m 

9ft 

nauvt 

j 




19% 

mb— Mi 

fiOroaD 

M 

1J 

17* 



21 

Bomss 







WTnA 






10 — ft 

WBAfil 

14M1O0 


10ft 


Mft— % 

DKlF 

J8a 20 


m ,3 




2x0a 13 

45 



64ft + % 


.12 

19 


■■ 


6 -ft 

mu 





Wft— ft 

Mlun 





lift 

lift + % 

UsD 

142 

X* 



3*1* 

36% — 116 



85 

15ft 

14% 

15 — % 

taflwr 



<82 

19% 

18ft 

I®4— ft 




239 

9% 

9 





sn 

7 

6ft 

6ft- ft 




434 

14ft 

lift 

Mft 






lft 

1% + % 



60 

S% 

a 

8 -ft 


IAS 


137 

Tie 

v% 

3* 

Mb + % 
36 V. 


43b U 

477 

22 

21ft 

21ft 


.1* 

2.7 

Vi 

ift 

i 

6 


100 




31 

31%— 1* 

Em 

450 15 

41 

158 

4 

30ft 

Sft 

30 

3ft— % 
X - ft 

9teC 0 



115 

13 

lift 

lift 

■neia 

tntTem 

.12 

34 

36* 

917 

3% 

% 




.1* 

1J0 



16% 

1646 + % 

OtefT l 



i 

JJU 

26 

26ft 

«iSw 

Ji 

1J 

un 

14ft 


14 - ft 





g»1 


21% 

A»5 

144 

34 

31 

mV,, 1 


31ft + H 




768 

Km 


7% — % 







« 

CCft 



<3 

pa 

7 

7% 


17ft 

4ft 

13ft 

30ft 

37ft 

32 

7ft 

117 

2»k 

l«ft 

7ft 

30 

5ft 

Sft 

7ft 

24 

17ft 

Xft 

2ft 

5ft 

lift 

15ft 

Sft 

20 

ISft 

38 

41ft 

29ft 

37ft 

201b 

27 

U 

17 ' 
23ft 
25ft 
13ft 
15ft 
7ft 
34ft 


10ft DBA 
21k DO! 

7 DEI> 

4ft DSC . 
20ft DaJsvSv 
23ft DataF 
4ft DronBlo 
83 DartGp 
13 Detents 
Sft DtalO 
Jfa DtSwtch 
it oatxa 
7ft Dtasm 
«ft Datum 
4ft Dawson 
11 DeBShs 

Vft DociiC 
20ft D*kattJ 

S DaHaus 
vIDonlcr 
Sft DentMd 
Sft DiooPr 
2ft Ohnanc 
10 Dleaan 
3ft DtaJMJ 
I2ft DtetCm 
23ft Dlonex 
1716 DlrGol 
25ft DamB 
I2ft DrchH 
T7ft Danes 
7ft D na n tz 
lfl«. Dr*dr 
lift DrarCr 
14ft DunkDs 
Tib Durtron 
7ft DurFHs 
3Vb Pm*cn 
18 DviUeliC 


36 

142 

56 

4417 

M2 

356 

370 

.13 .1 43 

M 1.1 167 

436 
170 
60 
184 
68 
134 

JO S 94 
1BSS 

J2 3J 338 
T78 
841 
5S7 

50 

1723 

51 
176 
465 
154 

JO 5 421 
152 IB 45 
Mi U 2 
M 44 S 
.140 15 SO 
73 
55 

31 U SB 
56 43 275 
.15 13 101 

243 
714 


15ft IS 15—16 
2ft 2ft 2ft— ft 
1» lift 12 —ft 
Oft 8 816 — ft 

28ft 28ft 28ft— ft 
31ft 31ft 31ft— ft 
Oft 7% 8 + ft 

115 114ft 115 
21ft 71 Tils + ft 
11 Wft 10ft— ft 
60b 416 6ft 

Sft Sft Sft+ Vs 
4ft -4ft 4ft + ft 
23 22ft 2Zft— ft 
mb raft raft 

34 23ft 2JH— ft 
ft Vi ft— ft 
ft 1k ft 

816 7ft SIS + ft 
14ft 14ft 14» + ft 
415 4ft 4ft + ft 
30 17ft 17ft— ft 
4ft 4% 4ft 
37ft 371* 37ft 
41ft 81 41 

211b 21ft Tift 

35 54ft 35 
1416 1411 14ft 

3* 2G ' — ft 

TOft TOTS 1014 
15*6 15ft 15ft + V. 
22 21ft 21ft- ft 
23ft 231b 231b 

a fflnsfe 
mb raft raft— ft 
6ft <« 6ft— ft 
34 33ft 33ft— ft 


PRhb 

st- 

ip 

6CI 

*V5c 

■Mur 

«JVB 

Otonp 


.Mo 


241 

4 

467 

sn 

47 

217 

736 

434 

W 


4% 4ft 4ft— ft 
lift Tift lift + ft 
23ft 731b 23ft + ft 
6'i 6 6 —Ye 

« 'RtS 

23ft 22 ZT& 

Tift lift lift + ft 

3ft Sft 3ft ♦ ft 


Hoy 

.i* 

1J 

727 

lift 

13% 

Mft— 1% 




*01 

19 

raft 

28ft + ft 




279 

ft 

ft 

ft— % 


41 

Jt 

1171 

19% 

11 

19 — % 

• mere 

031 

24 

175 

4% 


4 —ft 

rem 



>V 

13ft 

131ft 

13%+ % 


1 


X 

mi 

Mft 

17ft— ft 

WSJ 



421 


10% 

16ft + b 

,W»5 



a: 

17ft 

16ft 

T7 — 16 

. T7.Sc 

140 

54 

371 

254 

34b 

34b— 1 

- ; ■* .2P ir 



817 

31b 

2216 



2J6 

38 

7* 

5716 

57 

STtt + y. 



W 

388 

23% 

22ft 

23% + % 


17ft 

15 

5ft 

41k 

12ft 

U 

72ft 

12ft 

lift 

38ft 

20ft 

17ft 

15ft 

13ft 

14W 

14ft 

Tfi 

Oft 

17ft 

32ft 

IK 

17ft 

2114 

20ft 

Sft 

35 

lift 

71ft 

16ft 


7ft EClTol 
Sl» EiP 
ft Eaom 
26ft EeonLb 
7ft EK3UC 
12ft E*Pos 
ms Elan 
6ft £TWl 
516 EiecSto 
9ft Eicon 
aft EitNueJ 
13ft ElcAnt 
2 HUMU 
6ft OrsoEl 
ns EtnaAir 
5ft Enram 
21b Earito 
SU EnOveo 
6ft EadoLx 
15ft EmCiw 
7ft EnPod 
«k Enran a 
W EnwBJ 
sft Equal 
Sft EqWSi 
23ft ErieTI 
Sft Ertylnd 
12ft EvnSwt 
7ft Exsvir 


.12 24) 


72 
32 
337 

1A4 2JS 2*7 
288 

152 V 442 
446 
36 
183 

ax 

336 

297 

105 

US 

17 

4fi 

125 

8 

1054 

307 

M U » 

172 

655 

JO 11 79 

J58 Z7 305 
27 
448 
147 


7Vl 7V6 

lft 

41% 41ft 
Th 7 ft 
15*. 15ft 
X2ft TSft 
Sft Sft 
8ft eft 
uu 14ft 
mb is 
18ft UM 
3ft 244 
8U 8 

14ft 14ft 
Tift TTft 
3ft 3ft 
7ft 714 
7ft 6ft 

26ft 24ft 

23ft 20ft 

8ft 7ft 
616 4ft 
27ft 27ft 

&£ 

14ft Mft 


7ft 

t*i 

41ft— ft 
7ft 

ISft 

12ft- ft 

Mb + ft 

Wft +1ft 
im^ft 
u» 

2ft- ft 

Oft 

1436 + ft 

lift 

3Vs 

7ft 

7 -ft 
25*. — Mb 
2036— ft 
UW + ft 
T2ft 
7ft— ft 
6ft 

39ft- ft 
Wft + ft 
18ft— ft 
143b— ft 


nmntti 
HbhLow Stock 


Sate la 

Wife VW. ns Min LOW 1 PM. QfB» 


7114 47ft FrmG 176 16 403 68ft 67ft 47ft— I 



14 FadOps 



93 

■CT 

Lil 

» 

23% 

Ift LTX 




3% Ferofhr 



1065 

3% 


3ft + % 

2116 

10% La Petal 



T 

H* Fibrins 



274 

15% 

Crri 

15% — 16 

54 

33% LoZBv 

140 

27 


22% Fdkxs 

1.17 

47 

Hi 

XZ 


26 

13% LodFm 

.16 

J 


38 FWfaTs 

180 

28 

37 

64 


63ft— ft 

18% 

n% Labflw 

JO 

1.7 

Ti* 

.1- ■ 

M 

17 

63 

40% 40 

40 —ft 

17 

12ft LaanT 

no 

&5 

!T 

. I- M 

80 

43 

166 

34ft 

r ii 

14% — ft 

18% 

'i!- -| 

ji 

40 

9 ' 

3% Ftnotco 

J7 

47 

13S 

416 

rm 

416 + 16 

63 


U0 a 1.9 

M 

ift Finance 



22J 

7ft 

7% 

7ft + M 

32 

23ft Lawsns 

J2 

1.1 

rn? 




2*2 

17ft 

171b 

17ft 

7ft 

4ft LooOta 





1.13 

33 

33 

35% 


35%— ft 

TSft 

m& Lrimr 



36 


JH 

73 

13 

35% 

35 

35% + % 

9ft 

■ VjrT^jTJ 

JObu 


16ft FtATns 

JM 

19 

332 

24 


23% 

4 

"L’ - 




20ft FCamrC U0 

516 

25 

21% 

■ h.-i 

Sft 

if "i 




17ft 11 
24ft TVk 
26ft Mft 
2714 O 
24U lift 

38ft 21ft 

43ft 29ft 
M 30ft 
42ft 25V» 
58 36 

31 1WS 
27ft 18ft 

anti iTU 

4514 33ft 

Bft 1 

16ft Mft 

22M 15V. 

42T4 3Bft 

Wft M4 

17ft 113b 

8ft 3 

32 T2ft 

22 13U, 

34ft 26ft 

348b 1316 

^ Sib 

27ft 1614 

ms 446 
UM 1316 


FtConl 


JTbUB 306 


EFColt 
FFFMft JOb 1J 64 
HFl CP M 14 67 

FIFnMs U 

FIFTBJC M U 237 
FJerN U0 45 201 
FMdB OS 33 M 
FNtClns 140 38 33 

FRJHSO U0 24 37 

FtSvFta Mia 27 97 

FSocC ETO 47 467 
FToona 225 

FMUnC U24 M 
Flotorv 

FteaU 48 33 
FtoRfl .20 1.1 
FIONFI JO U 
FkwSl 

Fhirocb JB IS 
Fmorb 
FUooA jm 4 323 
FUooB J7 J 3 
Forom M Z> VB> 
ForesJO uo 7J 208 
FartnF 53 

ForMS 739 

Parson Mb j 2271 
Ftetar .10 Z6 306 
Fromm 48 2D 4S3 
Ewlrck 321 

FuirMB 32 IS 93 


6 Sft 6 

IMS ms 18 ft 

23ft 2316 Zlft + ft 
23 221* 23 + ft 

17 16ft 27 
22ft 22ft 22ft — 14 
33ft 33ft 331b— ft 
378b 371b 378b— 16 
54ft 54 54 —ft 

37% 37ft 37ft 
44ft 43ft 44K. 

2ns 2916 2916— 14 
23ft 23 Z3T6 + 16 
24ft 24ft 24ft— ft 

14ft 14ft 
10 17ft 
4 1ft 42 


6ft 68b 6ft- 
Zt ZTlti 22 
22 21% 22 
33% 32ft tra- 
it km u 

ravi in ra 

4 3ft 3ft 
2* ZZft 34 
6ft 6 6 

18ft 18 U 


9% Sft FDP 
10ft SMi F461 
3ft 1ft FnoUt§*t 

a% 10 ft Portae 


466 

in 

570 

203 


7ft 7% 
1016 ID 
Ift Xh 
lift 11% 


11%— % 


r- 




G 


1 

\M\ 

E777SI 



79 

3% 2% 

3 — ft 


M.-l.* ".Tl 



16 

Oft 13V 

ran— % 

1 J j 

Rl. . 1 

.ID 

1J 

123 

Aft 6V 

6%— ft 

1 

33ft Geoafcb 



*08 

69 *5D 

67 —1% 

10ft 




957 

10% W 


7ft 

m Cam 



367 

2 TV 

rtb— ft 

K.'- 

9 ft SoFBk 



ite 

25 34* 

25 

3ft GerlMs 



M 

6% 6* 

6% 


16 StaeGs 
O GftoTr 

J4 

1J 

1393 

mb ra* 

Wft— % 




23 


13ft + ft 





255 

0% » 

1* 

1 ' 1 

i;.,T j 

M 

4J 

2D 

lift UK 

16%— % 


E . t T ■ 

ta 

2J 

127 

20 m 

19%— ft 


6ft Gronbne 



13 

8ft 8V 

8K 


fift Grows 



ra 

XBb T3K 

lift— % 

% MjJ 

4 GmbSc 

- 


47T1 

7% 7 

7% + % 

1 

13% GUSaw 

Me U 

77 

26 25V 

26 + U 

1 ** 1 




78 

Bft m 

«% 

1 

lil ■ 



23B 


Uft + ft 

17 

15ft 

1216 GuBfrd 
ft GSBdc 

rate j 
UJBc 

304 

3U 

16$ %% 


c 




w 


1 

34% 

16% HBO 

JO 

U 

571 

19% u« 

Uft— V* 

lift 

7 HCC 

M 

J 

35 

Sft Sft 

8% — ft 


Sft Habers 



125 

Uft 16% 

lift— ft 

7% 

3ft Hadcn 



296 

Sft 6% 

«% + > 

316 

3 Hodson 



TH 

2% 2ft 

2%+ ft 


Oft HaarfM 

J0 

1J 

77 

16 IS* 

m 

35ft 

15ft HoroGs 

J6 

u 

42 

20ft 17ft 

20 i* + ra 

37% 

26ft HrHNt 

L72 

48 

254 

35ft 34ft 35*6 — ft 



JO 

28 


*% Sft 

•ra— ft 

W 

2ft HmU 

.141 


IS 

3 2ft 

3ft 


ft Htthln 



252 

m ft 

1 

4% 

1ft HHhdvn 



IW 

4 3ft 

3ft— ft 

25ft 

16 HEbB '■> =:• 

.14 

8 

1178 

an* lev. 

raft 

34ft 

U HChsBs 

JOB 

A 

84 


21ft 

8ft 

3 Melon T 



102 

3ft 3ft 

Sft 

37ft 

15 HeUx 



47 

21% »% 
S» 334 

2Jft + % 


31% HennJF 

.920 28 

47 

ZK. 

34ft 

1716 HlberCp 

100b 43 

72 

23ft 23% 33% — ft 

13ft 

7 Htdasn 



67 

nft 11% 

lift + ft 

13 

3Vt Hoam 



234 

7 ift 

6ft + ft 


tMteaFAl 



Wt 

3S% W* 32% 

10% 

i 



730 

1% lft 

Ift 


U HonJnd 

M 

2.1 

55 

31 30% 

30ft 


3% Harxtnd 



98 

ift 4% 

4%— 1* 

36% 

16ft HwBMJ 



330 

35% 34W JW- ft 

39ft 

20 HtetlB 

JO. 

J 

7 

am. 37% 

27ft— % 

14% 

Bft Hntoln 



270 


12% + ft 

2716 

17 HotoBs 

M 

32 

74 

26% 25ft 

26% 

32 

15ft Hybrllc 



520 

31 30ft 

JBft 






M 15% 

I5%— ft 

7 

5ft HyteHW 



26 

7% 7% 

7% + ft 

| 






1 


7ft 1LC 



18 

7ft Bft 

Sft— ft 


17% HASS 

JO 

A 

660 

31ft 30ft 

31 -% 


7% ISC 



650 

Mft MM 

Mft 


3ft Jco* 



SO 

8 7ft 

7ft 





756 

14 D% 

131*— % 

7ft 

3% » <iw> 



4* 

Sft 5% 

5% 

53 

32ft tndiN 

L6* 

3J 

30 

SB* 5016 

STM + ft 


21ft Inioftec 



76 

381* 27% 27ft— ft 


13% iJrftrn 



143 







15* 

at Kft 

34 + ft 





1741 

5% 4ft 

5% + ft 

16ft 



310 

16 15% 

I5K + ft 

6% 

avt 

i hissr 



IK 

35 

17ft Uft 

a* + ft 
Tflb— 4* 

32% 

20ft Intel 



2398 

28% 37ft 

mi— % 


3 JnHSy 



1249 

4M 4% 

4% + ft 


lft tatrTet 



178 

lft tft 

IV. + ft 

Wft 

7ft talrnd 



62 

m* io 

w 

16% 

Bft InfrffJr 

JO 

1J 

225 

15 Uft 

IS + ft 


21 tatesli* 



3833 

35 34% 

34M— % 

Mft 




U1 

7ft 7ft 

7M 

22ft 

10% iramtc 



30/ 

14 Mft 

14 +* 





0 

8ft 7ft 

TV* 

17 

a intc&a 



547 

lift 11% 

lift 

18% 

7ft IGame 



319 

^lS% 

Sft 


14% InlKlno 



23 

Wft— M 


B% inlLsss 



an 


U* + M 

a 

6% JnAMd 
ft IRIS 



207 

595 

a a 





1D41 

12ft lift 

12 +% 

15 

9ft imsattx 



» 

14 Oft U 

19ft 

5V> IW 



305 

W 9ft 

9M 

| 



J 



T' 

mT 

m jbmi 

M 

18 

221 

Bt 


r 

i 





a* 

46ft 43% 

44 + % 

35ft 

15% Jos* 



128 


2«4 







•Wk 



.16 

J 

768 

22% 2T% 

231*— ft 

9ft 

3% Joniew 

t 


V 1 

7ft 7ft 

716— 16 





42 

Sft 7ft 

7ft 





4£ 

34ft 34% 24% — n 

20% 

13ft Judin 

M 

2J 

40 


I7» 

r — 



K 







405 

211* 21 

21ft— ft 





3 

9 8% 

9 + % 



M 

T8 

95 




13% KarcBr 
7ft Kadar 



256 

Uft Uft 10% + ft 


ta 


82/ 

Wft Wft 





80 


lift 



80 

28 

666 

72% 72ft TZM + Vfc 

6lft 31% KrCnLf 

180 

17 

31 




5 Kamos 



107 


M 


Aft KeyTm 
Hh Kteibrk 

14 iOntar 



205 

Ulb 10% 

IRb— % 

. 7 

M 

3 

347 

087 

17M 17 

lift— % 


ift Kray 


3 

309 

Bft B% 

0ft + ft 


Jt 

28 

01 

lift 14% 

Wft— ft 

27% 

8% XMcke 

.131 

78 

272 

7SM 12ft 

Mft— % 




L 


1 

1116 

Sft LDBntk 



343 

6ft 6ft 

6ft— % 


TZ Month 
hunk Low Slock 


Sate In Nat H QManft 

Dft. YKL I Oft HIM Law 1 PJK Otoe Htaft Low M«k 


2416 11 LSI Lao 


„ Uabrt 
4114 LHnvt 
i LtoCotn 


2086 lift 
Mb raft 
3734 29 
6 lb 4% 
4ftt 23% 
38ft 201* 
3H4 151* 
26* » 
17ft 6 


LQvTuI 

Un Bn) 

LiOCTol 

Undbro 

LlzOa 

LnooF 

Lotus 

Lyndon 

LhOdi 


s 

Si 
67 
61 

i 

I 

42 

3 as s 
5 7 

1225 
31 13 « 
1211 

220 54 340 
.16 22 11 
35 3 877 

140 SO 26 
2065 
4 
400 


J7 

M 


22% 2114 
raft 12 
mb 71% 

57ft 57% 
24ft lift 
17% 17 
15 14% 

18 17ft 
4216 62ft 
27 2»b 

5ft Sft 

18 9% 
a 7ft 
aft 2 % 
2 2 

26ft 24ft 
47ft 4716 
8% 816 
16ft 15ft 
38ft 38 
44ft 37% 
5 ift 
47% 46U 
raft 28 
34% 34 
22% 22% 

19 Wft 


21ft— lft 
1214—16 
21 % 

52ft + ft 
341b 
1716—16 
14% 

II 
6216 
27 
5ft 
*%— % 

3%-ft 

Z 

31 ft +1 
47ft— 4b 
Bft— % 
16%—% 
88 — % 
4 MS +314 

46ft— ft 
a —ft 
34% + % 
22% —1 
18ft— ft 


mm 

6% MBI 



297 

Bft 

7ft 

7ft 

I1M 

M 

as sa 



*42. 

11% 

9 

10% 

* 

109b- ft 

TV* 

3% VAPSIS 




K, 

4ft 

4% + ft 

24% 


24 

1J 

Iftf 

Kn3 

Kjl 

24 — % 

32% 



97 


»V- T l 

33ft + ft 

17V* 

7% MockTr 




10% 

Mf.TT* 


28 

21% AtodGE 

2J8 

21 

28 

WtV^ 

21 + ft 


8 MnfRt 



V 

8V. 

IV 

8%— ft 

14* 

7% Maims 

Jllo 

11* 

ii% 

11% + ft 

UU 




1*95 

lift 

ii 

11 

24% 

18% Mandw 

JO 

15 

204 

23ft 


23ft— ft 

7214 

31% MfnNs 

1J4 

32 

99 


raft 

29ft 

in* 

13% Meets 

JO 




1916 


9 

2ft Mow 



U 


4ft 

4% 

cm 

7 Morost 



142 


eu 

Sft 


l | ' v ■ ^ r j 

IDO 

28 

44* 



3916 + ft 

26% 

6ft 




430 

937 

HjrM 


34% 

IVT^ i * - ■ 

.10 

J 

33 

34 


33 

2*ft 




2345 

20ft 


19% + % 

B% 

T .'i ra 



57 

15 


Uft— ft 

I 




716 

2ft 


2ft + ft 

3% MoynCH 
30ft McCrm 

JS 

24 

42 

34* 

4% 

33ft 


<% 

33% — ft 

14% 

Uft mcFnri 



35 

10% 

ieu 

10ft— ft 

11% 

6 JUedex 

M5 

5 

93 

«% 

Vft 

9% + % 


4 . MedC re 





5 

5 — ft 


KM MaUor 



22* 


16% 4- % 

IK] 

13 MontrG 




Uft 


17ft— % 

IK . i 

32% MarcSc 

1J2 

47 


1 W 1 1 

IN 

41ft— ft 

4 . 1 ■ 

un 

27 

39 

r r* 1 

Wft 78ft— 1% 1 


lift fiSarBo* 





■ T 

15ft + ft 

411* 

25ft MrdBcs 1J0 




r. j 

39ft— % 

23 . 


J4 

37 

43 



22* 

21% 

111* MoiyG 



116 

U 

T4% 

Uft 

3SV* 

1» Mlcwn 



234 

21ft 

21% 

21*. 

Sft 

T% JUUcrD 



68 

3ft 

3ft 

316 — ft 

lift 

Sft McrMk 



35 


7 

7 

7ft 

4% Mknty 

J* 

1.1 

■ \xU 

5% 

ift 

5ft— ft 

w 

3% MhrTc 



ITM 

1 

7ft 

8 + ft 

4% MJcrop 



ul 

Sft 

Sft 

H + ft 

8% 

R 1 _U 



Cii.a 

8% 

7* 

a + ft 

6ft 




301 

2% 

2ft 

2ft— ft 

24 

T7% Md5tFd 

JO 

23 

27 

■ j/ 

1H% 

Uft 

K3 

20 MhflBk 

124 

2J 

310 


42ft 

43ft + ft 

3 MdwAIr 



50B 


7% 

7% — % 

lm.A 

WA MIUHrs 

-44 

13 



23 

23ft— % 

9b 




84 


4ft 

4ft + ft 

44 

33ft MHUBT 

J8 

1.1 

306 


43ft 


96 

1ft SAMser 



337 


3 


18 Mtnstor 



116 


22% 

22ft— % 


7ft MCodc 

JH 

.1 

341 


■ft 

Bft— ft 

IBi 

7 MotdC B 



335 


12 

12 — ft 

ra 

14 Modtoot 

JS 

38 

119 


22% 

22% + ft 

13 

*tb Motedr 



IBS 

n 

10ft 

Wft 

IB J 

2814 Malax 

rat 


331 

■ i] 

3* 

36K— 1ft 

!■ JM 

lift Monfa 

J5a 14 

53 

mi’i 

SSft 

28ft— ft 


7ft AAonAid 



30 

17ft 

J7V4 

77ft 





737 

15ft 

15 

IS 

3716 

28% Atonic 

1J0 

48 

3* 

35ft 

34ft 34ft— ft 

2016 


on 


50 

19 

Uft 

W +ft 



JH 

24 

930 

19ft 

19% 

in* + u. 

7ft 




372 

3% 

3ft 

3% 


12% Motab 

J0 

18 

38 

Uft 

16ft 

Uft— ft 

26% 

12 Mcrtens 

.10 

5 

7W 

Uft 

18% 

10ft + ft 

1 _ 




1- 



1 


2% NCACB 



56 

3ft 


2ft- % 


Sft NUS 



2U 

4ft 


4 

_ ' i 

5V6 Nam) 



13* 

10% 


10% + ft 


16% NBflTox 

JS 

33 

532 

24ft 


24% +1ft 


37ft NttOy 
Uft NtCpfrs 

125 

45 

331 

49% 


49% 

B* * j 

20 

J 

988 

24ft 


14% — ft 


8 NDatn 

At 

24 

34 

17ft 

17 

17ft + ft 


12 NHttCS 

J4 

20 

66 

IB 

1/U. 

17ft— % 


4% NUmnb 



55 

4% 

ift 

ift— % 

5ft 

3 NAUcm 



885 

3% 

3 

Sft 


1ft Howto 




4% 

4% 

4* + % 


6 NvlHlT 

.151 


68 

ilk 

6ft 

6% + % 

lift 

4ft Netsor) 



237 

5ft 

51* 

5ft + ft 


4ft Mwktec 




Sft 

5% 

Sft 


U MtwfcSto 



3425 

22% 

21% 

21ft— ft 

43 

31 sajwfcns 

.18 

5 

32 

40ft 


39ft— % 

UM 

7% M BrunS 



335 

Sft 


Bft + ft 


23% NEBus 

42 

13 

337 

31% 


31% +1% 


19ft NHmoB 

JO 

24 

54 

33 


33ft + % 


ZH6 NJMil 

Lira 12 

34 

25ft 

34tb— ft 

raft 

f% MwWBk 

.Wl 

J 

218 

20 


19ft— ft 


TB Kewot 

Ji 

J 

30* 

24V. 


34 

14% 

4 ft 

% NiCdlD 



174* 

662 


in 

“:=* 


7% WS»E 

48 

2.9 

406 

Uft 

ifi j 

14—11 


U Nordsn 

48 

39 

63 

10 

i f^-j 

17%— % 


2Sft s tordsfr 

44 

3 

404 

51% 


51%— 1* 


30 ft sirskBe 

23 

4 

229 

51% 

51 

51ft + % 


5% Narstm 



41 

*% 

5% 

5%— % 


5 NAUIn 



7* 

8 

7ft 

8 +ft 


7ft NeetSv 



511 

18ft 


17ft— ft 

i’*' 

16 fteNC 

152 

BJ 

154 

18% 

;.l 

W% + ft 


17% MwMLf 

JO 

3J 

441 

25 


24ft 


17% NMHtPS 

230 

ns 

32 

24ft 


24% + % 


43% Maxell 

L08 

13 

227 

61ft 

59ft 

»ft-»b 

Sj 

ift NudFti 



677 

6% 

6V. 

Aft 





97 

7 

*% 

6%— ft 

| 13% 




221 

7% 

7% 

7%— ft 

1 O II 

4W 

14 Oceaner 



102 

Hk 

lft 

lft 

17% 

10 OcfllaS 



48 

11% 

Uft 

38ft 

46ft 

34ft OaOGo 
«Sft SSaCb 

MB 

15 

232 

44 

42 <6 

4316- ft 

7316 

280 

43 

89 

67ft 

*6% 


39 

IWk OtoKsnt 1.10 

33 

312 

35ft 

am am- ft 

4WS 

23% OWRP8 
imadSpfC 

74 

2,1 

S 

35% 

35ft 

35% + ft 

22% 

248 120 

5 

a 

Zlft 

21ft 

3316 

15% OneBcp 

40 

20 

134 

30ft 

29% 29ft— ft 1 

Wft 

3ft OnLine 



197 . 

10ft 

9% 

9ft 

mb 

12% OtrdcC 



366 

UVl 

14 

U -ft 

48ft 

22% OptieR 



308 

2*ft 

29% 29% 

1VU 

13 Orbnw 



211 

Mft 

14 

Ulb + % 

8% 

5% Ml 



195 

6% 

Aft 

6% 

I 

41* OrfaCP 



735 

ift 

5ft 

59b— Vb 

20 

12% Oslsnm 

JIT 

U 

TVS 

15ft 

Uft 

15% + ft 

Mft 

27ft OttrTP 

274 

U 

B7 

34% 

34% 

34% 

IS 

Sft OvtExp 



82 

10% 

IDft 

10ft— ft 


S.. Owa&ts 

JB 

14 

91 

18ft 

18 

1Bi%— lb 

4% 

%0»a 



253 

ft 

ft 

ft 

1 13 


35ft 

22% PNCl 

1J2 

42 

1629 

33ft 

32% 

33% 

53ft 

39ft Paccar 

TJ0Q 24 

77 

47% 

47 

47 

15% 

1 PoeFM 



532 

lift 

11 

lift + ft 

l* 

lift PacTol 

JO 

5.1 

48 

15ft 

15% 

15ft + ft 

19 

10% PooPb 



327 

11% 

18ft 

1816— % 

Sft 

6% Pandttx 

.13 

15 

50 

8% 

8% 

Mb 

17ft 

11% PortOh 

JO 

52 

93 

12 

11% 

!1%— U 

8 

4% PntrAM 



313 

7% 

7V6 

7% + ft 

14% 

6 PBUMT 

| 


58 

12 

Tl* 

n 

21 

9 PaycJlx 



303 

20 

Uft 

T9ft- % 

17% 

11 PeakHC 



236 

13 

12% 

19ft— % 

1016 

51* PooGld 

Jf 

J 

268 

A 


6ft 

35% 

95ft PenaEn 

220 

U 

21 

3316 

33 

» +ft 

31ft 

98% Pernors 

48 

32 

241 

31% 

3116 

3116 


Mob 

Dft. YKL I Ns 


Hbb Do 1PA cm 


15ft 74b 
30% 23ft 
13% 4% 
rau 7ft 
Ziib lift 
4% 2 
38ft UM 
27% 17ft 
37ft 29% 
U16 7 
15 7ft 
m 16% 
27ft 21 
3ft lft 
15ft 7ft 
Mft 6ft 
37ft 21 
13% 5 
7ft 3 
16ft 71k 
731* 40 
II 7 
6 3ft 
47% 23 
15ft 10ft 
lift 13ft 
30ft 14 


JO 22 


Petrfbt 
Pirmet 
PSPS 
pniKji 
PtmxAm 
PteSov 
PIcColo 
PkonHl 
PhmSt 42 
PoFodc 
PIcvMb 
Potbii 
P owell 
Powrici 
PwConw 
PrecCst .12 
PrMLD 
Prtaro 
PricOn s 
PiicvCn 
Prtnmx 
Pnwop .16 
PnnCi .a _ 
ProntTr 120 10J 366 


5557 

Bft 

8 

Sft 

7% 

3 TqcVIv 5 



187 

3lto 

245 

28ft 

27% 

27ft 

28% 

12% Tandem 



1*4* 

21% 

ZU 

0% 

8ft 

Sft— ft 

8* 

2* Tendon 



738* 

4% 

ZD1 

11 

10* 

1H- 16 

15 

* TcCom 



72 

u 

1602 

21 

71ft 

21ft 

22 

9 Total 



*13 

13% 

35 

316 

3% 

3% 

39 

22% TlemA 

1 


2840 

38% 

573 

33 

31* 

32 —1 

12* 

6% TetPlus 



BOB 

8% 

82 

27V* 

26ft 

37 + ft 

39% 

13% Tetecrd 

32 

U 

5* 

28ft 

»79 

38% 

37ft 

38 — % 

22% 

10% Tel pets 



795 

221* 

91 

W 

9* 

W + ft 

4Vt 

lft Teivtd 



215 

111 

30 

lift 

1116 

lift 

28 

s% Tetete 



SIS 

10ft 

1642 

73% 

72*. 

33% 

72 

9ft Tctxaa* 

01 


961 

21ft 

49 

3416 

24 

34% + * 

MH6 

3% TermDI 

t 


07 

3VB 

1B3 

«k 

1« 

1ft— % 

lift 

Sft TberPr 



389 

ift 

194 

13% 

13 

13 

13% 

616 Thrmds 



60 

Tl* 

44 

13 

12ft 

13 + ft 

28% 

U% ThrdN s 

44 

24 

20 

24ft 

163 

28 

27 

37 —ft 

MM 

5% Thortec 



788 

7ft 

92 

11% 

lift 

11% 

9* 

5% ThouTr 



903 

Bft 

757 

6% 

tft 

4% 

15 

3* TlmeEn 



11*4 

3ft 

331 

M 

7ft 

■ + Vb 

15ft 

9% TmeFib 



43 

15ft 

230 

71 

711% 

71 

3 

16 Ttornry 



IW 

ft 

too 

13% 

a 

13% + * 

17ft 

10 TrafcAu 



18* 

13ft 

195 

416 

4 

4% 

12* 

416 TrlodSy 



177 

10* 

63 

47ft 

47ft 

47ft 

3Dft 

20 Tnnio 

40 

U 

*2 

26ft 


Previn 
Purr Bn 


■40 13 


251 

60 


lift 11% lift 
31% 21% 21% 
30% 30 3016 


fZ 








1 

15% 

6 QMS 



263 

9% 

9 

9ft 

9* 




437 

S* 



Uft 

v QuobCt 

42 

u 

in 

12* 

12* 

12% + * 

32V 

IS GMkrtrn 



607 

37H 

“se 


5M 

2% BuodM 



963 

4H 

Wft 

9ft Oolicoto 




D 

IS 

17ft 

17* 

W* 

■ Quotrn 



3599 

11% 

mb 

11 — % 

d 




R 




1 

ii 

5 RAX 

Jle J 

330 

6% 

*% 

4% + % 

19ft 

1316 RPAA 

43 

34 

563 

urn 

18 

18 — % 

W* 

S% RadSys 



302 

u* 

MU 


Mft 

7 RadtnT 



75 

11 

10ft 

11 +16 





21 




7* 

34% 

3 Reaen 
33ft Raters 

100 

2.9 

* 

3% 

34% 

3 

34* 

34* 

30J* 

716 

73ft RovEn 
7* Ramcr 

J4 

IJ 

127 

tt 

18% 

1% 

HE 

23ft 




31 

22 

21ft 

ra + % 

m 

Bh \?m7 * — ri~B 




ft 

ID* 

IIHT 

10% 

35* 

K'.-* ^ y | ' *1 

44 

1J 


U 

33% 

33 

33% + % 

12* 




14*4 

lift 

11 

11% + * 

7* 

.4ft RocyEl 

JO 

U 

507 

A% 

6 

6 — % 

18 


.12 

3 

78 

ITft 

1/ 

T7ft + % 

mv 

3% Relics 



15 

4% 

4b 


Mft 

7% RoAuro 

.1* 

TJ 


a 

9% 

9% 

9% — * 

SO* 

9* RaKWl 



1025 

10% 

10% 

10ft— % 

20% 

Dft RestrEv 




ra* 

19ft 

20V. + % 

16% 

He Reuterl 

-15e 1J 


8 

9ft 

Bft 

9 

30% 

79% ReutrH 

20 

.0 

2267 

28* 

a 

28* + % 

51ft 

31ft R»yRev 

140 

26 

ZW 

S* 

ilft 

53% +1* 

30* 

10 

Wb Rhodes 
3% Ribilmi 

J2 

Vi 

£ 

20 

7 

20 

A* 

3D —ft 

22ft 

13% RICAEI 1 



£ 

22 

21ft 

21* + ft 

18ft 

11% Rival 

00 

44 

17% 

17b 

17*— M. 

35ft 

24ft RooOSv 

L10 

3J 

763 

35 

34% 

Mft 

16% 

11 ROOWbo 

0* 

4 

61 

Oft 

13% 

n% 

raw 

8% RoeVm 





0% 

8b 

B%— % 

28 

U* RD390S 

St 

21 


3 

25 ft 

Mft 

25% + * 

71% 

** RovPtm 

i 


256 

9 

Sft 

Bft— % 

8ft 

3% RoVlRb 



138 

3 

2ft 

2* 

17ft 




17 

n% 

11% 

11»— Vb 

24ft 




*0 

22 

2ib 

ra + ft 

r~ 




5 




I 


8% SAYind 



28 

9% 

916 

9* + % 

n% set Sr 



571 

15% 

14fb 

15 


13% SE1 



45 

73 

22% 

22% — ft 

Xtl 

5* SFE 

-tar 14 

3 

4*1 

6* 

A* 

k 

16 SRI 

08 

40 

17 

lift 

16*— % 

r r !^ 

A% Sated 1 

J4 

10 

687 


25 

2516 — % 


30% 5afeco 



343 




9% SafHHs 



173 


10ft 

lift + U 

Vi^ 

7ft SlJnfe 



« 


rau. 

30% + ft 


47* StPnH 

300 

X7 


81 

Hlft— ft 

til 

3 SotCot 



310 

S% 

5* 

5* 

El 

4% Son Bor 



135 

Aft 

6% 

ift + ft 


5% Sateay 

-M 

22 

! 

9 

ift 

616 

4% + ft 


l«h SovnFs 

rau u 

*2 

30 

29% 


St 

12% SBfcPSs 

44 

11 

171 

Z1 

20ft 

20* 


*1* SconOp 



8*5 

10% 

IU% 

10% 


0% ScanTrs 



| 

* 

14ft 

m 

Mft 



J2 

21 

87 


Fn 

TSft— ft 

'Ll 

Mft SchlmA 

40b 14 


1 

Fla 


28 

V£ 

3% 50AUC 



18 

Ira 

4% 

4%— % 

H+ 

Aft SdSft 



j 

5 

6ft 

616 






®4 

7% 

7 

7 — % 

9% 

Sft SeaGoi 



77 

4* 

4% 

ift— % 

Sft 

4% 5eaBaie 



2894 

ift 

6* 

6*“ % 

4* 

1% SecToa 



147 

1% 

7% 

1* SEED 



292 

2% 

2% 

2% — % 


1* SeQsel 

JO 

40 

71 

20ft 

20 

20 

■d 1 




42 

7* 

7* 



*1* 5ansor 

JS 

4 

2377 

Bft 

8% 

8% 

■c*7 

11 5vcAtor 

01 

0106*1 

13% 

12 

Uft— * 

K-. • 

17% Svmds 

04 

30 

488 

raft 

21% 

21ft— % 


13% Semico 



70 

22ft 

22ft 

Sfcr* 


4% SvcFrct 



181 

4% 

4 

^P, p_‘ 

19% SevOok 



WT 



19 


36* SBTMod 

40 

L7 

\ 



35% — ft 

y ,7.' 

29ft Sftwmt 

104 

44 


SCI 

41%— ft 


12* Shelbv* 

.1* 

3 

54 


33% 23% — ft 


Sft SheUls 



£ 


1 

Bft 


23* Shonev b 

.IB 

J 


'i irl 

29% + % 


ID Swa5o3 



5*2 


it 

13% 

3* satewi 



913 


wiA 

ift 


9% SKiconS 



5*3 

M 

13ft 

I3*b— ft 

30% 

Uft 50ICVOI 



584 

lift 

16 

16 

24% 

13 SUlcnx 



72 

22% 

22ft 

22ft— ft 

lift 

3ft SHtec 



3*9 

5* 

5% 

5*— % 

17* 

13% StePim 

00 

49 

36 

14% 

16 

16% + * 

15% Steins 



218 

lift 

10* 

10*- % 


10 Slzztera 




1*% 

lift 

1i% + % 

13* 

Bft SUmcr 

08 

0 

£ 

10 

9% 

M + % 


1% SmlthL 



2% 

2ft 



35% Sedety 

104 

24 

130 

Sift 56% 

51* + * 


11% SodvSv 



3< 

l 

26% 

25% 26% + Ik 

31% 

S% Soltech 



V 

i 

Tl* 

11 

n% + ft 

21% 

11% SodwA 



u 

1 

18% 

17% 

17* 

31% 

19% SonocPS 

J8a 22 

1 

1 

31ft 

31 

31%— ft 

23ft 

14ft SonrFd 

Me 30 

- 

3 

1* 

15% 

1S%— % 

6% 

3% SoHosa 



94 

5 

«ft 

4b— Vb 

33 

90U SthdFn 

ja 

94 

« 

21% 

31 

21ft 



00 

3J 

19% 





.10 

10 

1038 

6* 

Mb 

6%— 16 

32% 23% Sovran* IJfl 

40 

IK 

X 

31% 

X 


10* Specdv 






98% 

11 Sect ran 



123 

22% 

22 

22 — % 

Sft 

j% SoecCII 

07 

9 

’8 

8% 

7% 

B + Vb 

n 

13% Soire 



18ft 

15* 

15ft- % 

13 

3% StorSur 



i 


8% 

Uft 

8% + % 

9% 

5 SWBId 

JO 

23 

« 


9 

m 

Hfb— U 


31 Stondr 

108 

34 

n 

j 

33 

39* 

29*— 3ft 

23% 

lift SKtAMc 



u 


IS a 

Tt% 

14*— ft 

97% 

20% StonSam 1J0 

44 



raft 

ra* 

27ft .+ % 


23ft StnSIB t 

M 

LS 

; 

I 

41ft 

41* 

41* 

6% 

3% SlnlcilS 

0SO10 

0 


5 

4% 

4b 


4% Retaor 



: 


6 

6 

6 — ft 

m% 

HMStnStv 



u 


Uft 

15% 

15% 

n 

21 Stwtnf 

02 

21 

5 

1 

23% raft 

23*6 + 16 

8% 

5% StiteS 



! 


8% 

Bft 

Sft 

25 

9 StnttaG 



Si 

1 

23% 

23 

a - * 


29% StrwOj 

36 

1.9 

6 

1 

41% 

11 

41 — Vb 

rl 

16% Strykrs 



Z 


24ft 

23* 24 

171% 113% Subaru 

2JS 

10 

297 

152 150 ISO —1 


43 SutrB 

l« 

20 

4 

1 

•SIS 

16 

86 

4* 

1% SufWIKI 



281 

2% 

Sb — Vt 

■« 

7* Surnmi 

.10 

1.1 

506 


Vft 

9ft— Jb 

% SunCd 



387 

ifk 

1 

1%— S 

lift 

*% Suftitod 



U 

Wft 

10* 

IB* 

IS* 

7ft Suo5kv 




1 

1% 

s 

B — % 

4% 

3 Suprtex 



12S 

3% 

3% 

3%— ft 

U 

8% svmbT 



170 

10% 

ID 

10ft— ft 

vm 

* 5m tech 



94 

7 

*4b 

7 + % 

5% 

2% Smtrex 



270 

S 

4* 

6*-* 

14% 

1% 5vms 

JO 

10 

31 

Uft 

13% 

13% 

7*% 

8 SvAboc 



128 

U 

9% 

9% 

8 

4 Svifin 



171 

7ft 

/% 

7% 

lift 

** Sntata 



U 

1016 

9* 

9* 

2714 

15% Sydrat 

08 

J 

£ 


25% 

25% 

25%+ ft 

d 



T 




1 


14 I TBC 40 

27ft 13ft TEACH M J 40 


lift lift lift 
27V. 27% 27ft + % 


n Mote. 
HWlLow Slock 


Sotebi 

DtV. Yld. INS Hied 


LOW IRALOlte 


2 % 2 % 
71ft Sift 
6% 4% 
14% 14% 
13ft 18ft 
38 38ft 
Bin 8% 
27% 28 
31% 21% 
3ft 2ft 

io io 

20ft 21% 
3ft Sft 
ftft 6% 
lift lift 
24% 24ft 
Oft 7% 
7ft I 
3 3% 

15% 151b 
ft ft 
13!b 13 
7ft 7ft 
23ft 25 


— ft 

— % 


— % 

— Vb 


+ % 
— u 
+ % 


+ % 

- ft 

— u 


d 




u 



| 

27* 

34V6 

10* 

23% 

M* 

39% 

6316 

2716 

11* 

30% 

11 

22ft 

14* 

* 

”s% 

6 

Q* 

5% 

32% 

4* 

25* 

25% 

48ft 

JM* 

30% 

13 

tft 

18% USUCa 00 19 
13* UTL 

5 Uttrsv JMe 3 
to* uoornn 
a UnHt 

1716 UnPft.tr 1091 30 
24* UnTBci 100 20 
1316 UACma 06 J 
H UBAtek .I5r 17 
31% UBCnJ 10| 37 
A UFnGn. 

12ft UFStFO 05e J 
A U&rtJn 1041 IU 
9ft UPtmI 

2* US Ant 

34% USBCP 100 34 
I* US Cop 

3% US Dm 

0% U5MC* 05 J 
3ft USSMIt .17 30 
14% USSur Mo 13 
25ft uSTre 1J0 73 
17ft U5Mn 34 10 
15* UnTolev 

34 UVoBS 144 3* 
14V. UnvFro 

10 UnvHIt 

Bft UFSBfc JOo A 
3ft Uacot J8 50 

14 

3S5 

337 

699 

96 

29 

65 

387 

53 
404 
648 

59 

W 

*0 

290 

147 

78 

1T7 

5315 

*3 

380 

61 

351 

1116 

54 
256 
731 

71 

25 

27% 

Uft 

8% 

t5 

1 14 
27ft 
61 

27 

9 

29% 

6* 

19 

Bft 

10ft 

4% 

29% 

3% 

2* 

19ft 

416 

17% 

45* 

25% 

24* 

s* 

14% 

IM 

5% 

27Vj 

Ti 

8% 

u% 

£5 

Wft 
26 ft 

9 

29* 

Aft 

Uft 

8% 

10% 

4% 

29 

3ft 

3ft 

1V% 

4 

17ft 

45ft 

24* 

24ft 

45 

23% 

13ft 

12 

5 

27Tk + 14 
16% + % 
B% +% 

14ft 

ir.~ % 

27ft 

A0ft— ft 
2*ft— ft 
9 - % 
29% + % 
AW — ft 
Uft— ft 
8%— % 

’SszS 

29% + % 
3% + % 
2ft— % 
19ft 

17ft + % 
45ft 

24ft— ft 
24% + % 
45% + ft 
23ft 

13*— ft 
12 — ft 
5% 

| 




\r 



J 

9% 




352 

6% 

5* 

A 


7ft VLSI 



193 

ISft 



11* 

3* VMX 



186 

4% 

ift 

•TV 



.17o 14 

15 

13 

12 

13 — W 





154* 

9% 

8* 


22% 

8% VolFSL 



87 

22% 

71* 

21*— ft 



1J2 

3J 

217 

«% 

40% 

40% + % 

ra% 

19* VoILn 

40 

14 

131 

28ft 

28 

28ft 



48 

20 

17 

19ft 

19% 

19* + % 





A0 

Sft 

5ft 

5ft— % 





55A 

4% 

4% 


38* 

14* VIcorp 

.12. 

3 

347 

18* 

18 

18 — % 



23e 33 

*3 

6% 

A* 

Aft— % 

16* 

9% VDcInfl 



37 

15ft 

15ft 

15* 

32 

13* Vlrofek 



151 

21ft 

20ft 

21 — ft 

13% 

5* Vodovl 



29B 




ra 

Mft Voltlnf 



203 

71% 

Zlft 





W 



| 





93 

» 

3316 

23% + ft 

17% 

10* WalbCS 

32 

1.9 

37 

17ft 

ITft 

17ft — ft 

13* 

Mb WlkrTel 



144 

9% 

9* 

«b— ft 

25ft 

19 WHiE 

L7* 

7J 

23B 

W% 

24% 

34*— % 

30% 

l«% WF5L a 

A0 

11 

127 

39 

28% 

W%- % 

17* 

It WMSB 

.Ida 


114 

17 

1Ab 

16*— % 

9* 




104 

7ft 

7% 

TVS — ft 

Mft 


40 

33 

BV 

12% 

12 

12% + % 

19% 

9ft w«stFn 



290 

18ft 

U 

18% + % 

17* 

516 WilFSL 



406 

u* 

15% 

15ft — % 

10ft 

5* WMIcTc 





8 

8 — ft 

18* 

Aft WtTIA I 



66 

18 

17% 

17% — to 

73 

15% wmorp 

40 

1.9 

125 

21 

20* 

20ft— ft 

17% 

i* vraiwCs 




12ft 

12 

12ft 

38% 

24* vrehnj 

.98 

20 

195 

38* 

38ft 

38ft- % 





797 

<* 

4'6 


13% 

3 Win own 



351 

4% 

4 

4 

52 

33* Wllhnl 

1-65 

3J 

52 

51* 

51 

51 — % 


7* IWIIIAL 



248 

15ft 

15 

15 — to 

19 

9* wmsSn 



12 

IB*. 

18ft 

18*— ft 

W* 

4ft WllsnF 



285 

t 

5% 

5b— ft 


3% vnumr 

031 


<38 

Sft 

5* 

Sft 

34ft 

13* WteorO 

40 

4J 

167 

M% 

14% 

14% + to 

19* 

lift Woodnd 

40 

50 

134 

12 

11% 

12 


U* Wortaws 

44 

20 

377 

22ft 

21ft 


9* 

A* 9/ liter 

■15e 10 

687 

Bft 

8% 

8% 

30% 

20ft Wyman 

00 

37 

39 

21* 

31% 

21% — % 

I 



X 



| 

ite 

1% Xebec 



1196 

1% 

1* 

1% 

13* 

5* xicor 



*64 

8* 



17* 




110b 

ur» 

M% 

Vi* + >to 




Y 



1 

29* 

15% YlowPs 

04 

IJ 

443 

39% 

29% 

29ft— % 

1 



3 




1 


30% 6% Zen Lbs .101 A 760 

14 10% Zlogtar Jfln 3J 2D 

46U 31 ZlonUt 13* 10 S3 
Sft 1ft ZUel 87 

Sft 3ft ZJvotl 74 

1516 8ft Zontfvn 081 A 1TV 


ISO XV, 24ft + ft 
Mft 13ft lift + % 
45% 45 45 

3ft 2% 3% + % 
5ft Sft 5ft 
13% 12% 13 


Sates futures are unofficial. Yearly hlfliis and lows rotted 
Kw ermieus 32 wwta dusite current week, but net ite Matt 
tradtnaday. where a split or stock dlvtdand mounting to 25 

percent or more ho* boon paid, me vwors htett-ton renoe end 
dividend are Oiomi tar tiw new stack only. Unms otnerwtee 

actoO. rotes of dividends aro armuol OSsOuroomenti bmd coi 
me latest aecsarottan. 
o— dividend eteoedrats). 

Ir— armuol rote of dMdead plus stock dividend, 
e— ilmildaflnp dividend, 
dd — called, 
d — new yearly low. 

e— (BvKtend doctored or paid In precmSnu 12 months. 

0 — dtvktend In Caimflon tanas, sublect to raw nerwreaWtnce 

1 — dividend aedorad after spnMrp or etock dlvktanL 

I — dtvtdand pout this veer, omitted, deterred, or no pct l ni 

takmi st latest UMdendmeeHna. 

l £!*g£JS£SXZ2l i * ™ r - " 

n— wteeue In ItepodawcBbA. The ti tgh. low range heobw 
wWi tm sfort of fnumo. 
nd— next day aeliverv. 

P/E — prlceeamtage ratio. 

r^addteddmsnred or mm In orecedknsi 12 imnitts. Mas 
s—dedc soUt. Dtvtdand begins with dote of inttt. 

sts — sates. 

t—dMtend gold In stock hi preeedng ra months. osH mated 
cash value an es-dtvktend or ex-dtetrlbotlcndM: wnmo,M 
o— tew 'yearly Matt. 

*— trod tea batted. 

yl-^bibanttr ite^orntcelveratitaorlteliwreorimint w iin- 
dm^l# Batkruatcv Acf.er eeeurttteseseoniabfSrtStwl: 


wd — when dtstr United, 
■rl— wten ESSUHL 


x-r+bMjMdend or mMieMs. 
xdu — ex-dlstrltjwtjon. 
eu> — witho u t warra nt s, 
y— e»dMdsnd M gates In fulL 
yld— ywUL 
z— sates In full. 


i 




p • • 













Page 14 


INTERNATIONAL HERALD TRIBUNE, TUESPAY-WEDNESDAY, DECEMBER 24-25, 1985 



PEANUTS 

P55T, BIS BROTHER 
HATE TO liJAKE VDU ON 
1 CHRISTMAS EYE BUT I 
NEH? YUUR APVlCE... 


books 


I UlAS S0UNJ7 ASLEEP UJHAT Tthp^e SORT^ 

UJHEN ALL OF A SUDDBi ARE j OF ROUND , 

Visions of su6Arfiums sugar- l pieces of i 
RANCH? IN WHEAPi PLUMS?! CANDY.- A 




600(71 1 UJA5 AFRAID 
TUiAS FREAKING OUT! 


BLONDIE 


MSB7V CHRISTMAS, 
— r W?. 0 EASLEY rf 


’LOOK 

our// 


ACROSS 

1 Poet Lazarus 
5 Miami Dol- 
phins' coach 
10 Tcha or 
Twankay 

13 Thug 

14 Yearned 

15 Brothers 

16 “But I was 

. . Yeats 

19 Prefix with 
school or war 

20 Cereal disease 

21 Warm and 
welcoming 

22 Willful? 

24 Wonder plus 
Tear 

25 Novelist Levin 

26 Forebear 
31 Rose's love 

34 Visayan island 

35 Silkworm 

36 Low-calorie 
margarine? 

40 He tested 
Adlai 

41,'*. . .Time,/ 
Will one day 
Shak. 

42 Small land 
mass 

43 Leaves a peak 

45 Fitting 

47 A feast 

famine 

46 Friendly 
52 Musical 

transition 


55 Unspoken 

57 One, in 
Aberdeen 

58 PatenUy 
Paleozoic? 

61 No longer new 

62 Grow toward 
evening 

63 Biblical twin 

64 Moines, 

Iowa 

65 Cheekiness 

66 Futurity, for 
one 

DOWN 

1 Lake Buruilus 
is there 

2 Garry or 
Roger 

3 Grimaces 

4 Sothem or 
Sheridan 

5 Rival of 
Athens 

6 Door 
attachment 

7 Loosen a knot 

8 Radical's 
position 

9 Stir; flurry 

10 Festoon 

11 Leisure 

12 Cinereal 

15 Arctic sights 

17 Equipment 

18“ no more 

today!”: S. 
Foster 

23 All even 


24 Romans 
precursor 

26 Shield 

27 No, in Nizhni 
TagQ 

28 Spots on the 
links 

29 Kind of 
bygiene 

30 Emulate 
Shoemaker 

31 Surrounded by 

32 Kid's vehicle 

33 Dec. 13, e.g. 

34 Alan or Cheryl 

37 Looked 
lasciviously 

38 Sicilian resort 

39 Actress Moreno 

44 “The Little 
Engine That 

45 Somme’s 
capital 

46 Essence 

48 Pains' 
partners 

49 Float 
56 Shade of 

purple 

51 Result 

52 Ibn- 

53 Basic Latin 
verb 

54 Departs 

55 Autocrat 

56- boy!" 

59 A vestment 
66 Suffix with 

cash 



> n DOESN'T * 
SB S* BROKEN 


- Y TE R R I FI C , 


BEETLE BAILEY 

LOOK AT ZERO' 
HE VOBB THE 
WAORKOF 
TWO MEN' y 


' X 

KHOW 


THAT'S WHY BSrTLJr 

always wants him 

AS A PARTNER V 


jjQpr 

'ggLWM** 


ANDY CAPP 


TL. 


• DCNTBEUKE TWB,RJ3. DWELL! 
,C><TMEGOppT>WES.-n-llNKC3l= * 

wmr well j 


[whATAK* , 
.<30 WELL-? I 


© /VeiT York Times, edited by Eugene Afakska. 

DENNIS THE MENACE 


WIZARD ot ID 

T tfnienmi ewofrokfac&.wwfr 


PREPARING FOR POWER: Ameri- 
ca’s Elite Boarding Schools 

By Peter W. Cookson Jr. and Caroline 
Hodges PersetL 260 pages. SI 9 95. 

Basic Books, 10 East 53d Street, New York. 
N. Y. 10022. 

Reviewed by 

Christopher Lehmann-Haupc 
rp HE observation that inspired this took is 
1 not terribly startling. Like many other soci- 
ologists, Peter W. Cookson Jr. and Caroline 
Hodges Pencil noticed that when youngsters 
go into dite boarding schools, they tend to be 
5 m* children of rich and powerful parents- .And 
when they come out of those schools, they are 
better prepared to take the place of those 
parents. , 

The interesting question raised ra “Prepar- 
ing for Power: America’s Elite Boarding 
Schools" is what happens in between? Obvi- 
ously dite boarding schools “prep” their stu- 
dents for dite colleges, from where, in dispro- 
portionate numbers, graduates go on to 
boardrooms, bar associations and bureaucra- 
cies. But isn’t there more to the United States's 
boarding schools t han their students* simply 
being there? 

Yes, the authors conclude. To ova simplify 
grossly their p»mctai»ng anatomy of a com- 
plex process: Tbe dite boarding schools act as 
what tbe sociologist Erring Goff man has de- 
fined as a “total institution" — one where, in 
the authors’ paraphrase, “(I) all activities are 
conducted in the ra*rne place under a single 
authority; (2) daily life is carried out in tbe 
immediate company of others; (3) life is tightly 
scheduled and fixed by a set of formal rules; 
and (4) all activities are designed to fulfill the 
official aims of the institution.” 

Solution to Previous Pnzzle 


□gee □□□a □qqqs 
ncac saaa naama 
echo Haas amass 
EoacamaaQana 
DDBEao QEa ana 
aaaa aaaaaa 
googi aaaa aaaa 
□EQEaaaaanaEaaa 
ddqe aaaa □□□□ 

EGDEnn □□□□ 

DEH QQQ □□□□QS 
Gcnaaaanaaaaa 
erode aaas sasa 
□Euna aaan aaaa 
□Emon anas oaaa 


12 / 24/85 


The schorfs strip students of iheir indfritf. 
ujJitv and sense of privacy, madling instead t 
croup identitv or “web of afrdutmr that does 
not end with graduation bat “crcrtmitt frf 
grow, becoming more intenwovw, entangled, 
fnd ia the end. «he bass of sura group end 
class solidarity" 

The auihcrs did exhaustive fiddworfc involv- 
ing questionnaires and dim observation. 
Considering tire rigor of their methods, “ft*, 
paring for Power" is snrpristagly absorbing, . 
The analysis is liberally spanned with at#. 
dotes. Tbe jargon of sociology is often nn- 
dered with eloquence. The rabies turf graphs 
do more than simply illustrate the text Ye( 
despite the complexity of the argument, coe'i 
mind tends to grasp the points a little before 
ihe auihors arrive at them And while one waffs 
for the text to catch up. one gathers wool One 
wonders what Thomas Mann was getting at in : 
"The Magic Mountain" with that pernbeing - 
fantasy of the devouring witches behind. the 
temple of beauty that Hans Caflorpenvtwjfis 
while lost and freezing ia the snow. Surety 
Mann’s passage wasn't meant to be cited at 
length and then trivialized as a mere twgfphpr 
of ugliness hiding behind beauty, as the m- ' 
thors hare done. 

I didn't realize quite how tar tny mind fad 
wandered from ibe (ext until Cookson and 
Persdl posed a series of concluding questions 
suggested bv their study. “For wfeai kind of a 
life is the prep rite of passage the best prepara- 
tion?" they ask. “Does it develop successful 
entrepreneurs and risk taken? Dees it encour- 
age innovative scientists or invemoriT 

After citing the stagnation of the Briti s h 
economy and the possible connection of this to 
the rigidity cf England's etas structure, the/, 
authors continue: “la a period cf economic 
scarcity and contraction, we might expect the 
prep experience to become relatively more im- 
portant. as those already holding pow g ti? to 
ding to what they have. Yet if we are catering 
an era of unprecedented growth and pruspm- ' 
ty, as some project, then those who tie less 
shackled by conventional ways rf dcKugftaugs 
and less socialized Tor a ootumoo coucctme 
identity will probably benefit more than those 
who are prisoners of their class.” 

The assumptions embedded here, and the 
whole different set of questions they provoke, 
are really a good deal more stteres&nt one 
realizes at this point, than what amounts to the ! 
elaborate anatomy rf angkipbBfa that “Prepar- 
ing for Power" really is. One ends up hoping 
that the authors — or somebody — wffi write 
the sequel that their coodudfag question sag- 


Chistopher Lekmtmn-Haapt is on thesuff if 
The Wew York Times. 


































Page 15 


INTERNATIONAL HERALD TRIBUNE, TUESDAY-WEDNESDAY, DECEMBER 24-25, 1985 


SPORTS 



no Zealand Reigns as No. 1 


y Bob Donahue 

" .'na Herald Tribune 
- ’ « —New Zealand is No. 1. 
/ '.through SB histone year 
rugby, Andy Dalton’s AH 
•'‘imbed past idle South Af- 
-^first place* 

~ in that month of June, 
■. um^ed to fourth place be- 
. frnfift- 

. ar-end rankings from 5th 
&«, based on each team's 
, \as against any of the other 

^ unchanged since April: 
Scotland, Wales, Roma* 
' ntma, England. - ■ 
-ably taking over all three 
- p ranks in the table, the 
Hemisphere asserted its 
s . on as never before. 

' ‘ y-«89 made with a ded- 
id rugby's first world cup, 
' with a rash lo commercial 
hip and with reinforced 
~ - of Sooth Africa. But it 
o eon die field as weJL 
>15 loss to New Zealand in 
V on on June 8 was Eng- 
iggest defeat, both in the 
. iitad and in the size of the 
scare, in all the years 
. Scotland and England 
-/.i international cotnpeti- 

- m 

' ■ attina beat France far the 
“:jj — 24-16. in Buenos Aires 
: 22— in the 16th match of a 
\ at started in 1949. And on 
je Pumas held visiting New 
to i 21-21 draw. 

: .nee’s II -point margin over 
... -14-3 in Paris on Much 30 
S its biggest in that tight sc- 
/-.ibh goes bad: to 1908. 

- nutria played England for 
time, in a 22-15 defeat on 

Twickenham. The subur- 
^idcei stadium has long been 

\l as the sport’s unofficial 


Worid Root’s Top 10 

FlnaUXSTabte 

(Startings UM on 0 «*» country* Igfl 10 
fasts as of Dee. 31. 1985) 

W D L Trias 
LNewZaoiMd 111 » 

2. South Africa 7 0 2 3J 

X Aurtrafia 5 14 ib 

4. Franca 4 3 4 19 

5. iratand 4 15 8 

6. scottontf 4 0 6 15 

7. WWee < 8 * II 

8. Romania. 4 0 6 10 

9. Argentina 2 17 12 

TO. Enutand X 1 7 B 

Final 1984 TaWe 

(Startings band an aach country's last 10 
tests as of Doc 31. WW> 



w 

D 

L 

Tries 

1. Saute Africa 

7 

8 

3 

32 

7. Franca 

6 

1 

3 

30 

XNawZaatena 

6 

1 

3 • 

16 

4. Australia 

5 

1 

4 

19 

5. Scotland 


1 

4 

17 

6. wales 

4 

l 

5 

13 

7. Romania 

4 

1 


11 

ft. iratand 


0 

7 

4 

9. Argentina 


T 

7 

13 

ta Engteffif 

2 

0 

4 

3 


headquarters, and an invitation 
there is acceptance par exccfleace. 
France first played Romania in 
1924, but other major countries 
have been slow to accept East Eu- 
ropean teams. Argentina hosted 
Romania in 1973; Wales did so in 
1979, Ireland in 1980, Scotland in 
1981. And now Romania — but not 
the Soviet Union — is among the 
16 countries invited to the world 
cup. 

There were tours in 1985 by the 
United States to Japan, Scotland to 
flan ad* and to the United States, 
Ireland to Japan, Canada to Aus- 
tralia, Italy to Zimbabwe, Fiji to 
Australia, Japan to France and Fiji 
to Ireland and Wales. 

England versus Romania was the 
first of the year's 18 tests among the 
big 10. Then the 10 matches of the 


lie Solstice Song 

By Nelson Bryant 

New York Times Service 

--he shortest day is done, my friends, the shortest day is done. 

Jow winds and crack your cheeks, the shortest day is done. 

be solstice has come and gone and winter is under way, 

£ • id winter's start toward winter's end deserves a roundelay. 

- ; better time will come to pass, a better time wiD come 

- hen all die snow has gone to wet and aD the skating’s done, 
i. sweeter time wfll come as brown turns green and worm 

mu bold and bares his length on midnight lawn. 
he warmer time unzips the coat; the warmer time is sun 
a skin sad bursting buds and all spring planting doom. 

‘ he softer time unfurls the leaf, the softer time brings terns 
. _jck north and lores the smelt from sea to burns. 

> bum or lake or wilderness, in beaver bog or fen, 

IFs frozen silence now save far the moaning wind, 
l bay or sound, crabs drowse in mud while scoters fly 
hove, dark wavering lines beneath a leaden sky. 

’ i UDside cave or blowdown den, black bears sleep, 

-siting out the cold with no promises to keep. 

‘ /inter’s fine for snowmen. Winter's fine for those 
'ho hud themselves down or match a bear's repose. 

Tie joyous time when wishes unfold, the joyous time is when, 
towed by spring's advances, summer stirs again. 


gminal Five Nations to urnamen t 
— ending five weeks late on April 
20 due to snow in mid-winter — 
left Ireland in first place, ahead of 
France. In Jane, England lost twice 
in New Zealand; France split a 
two-test senes, in Argentina; New 
Zealand held off Australia, 10-9, in 
Ancklan& In Argentina in October 
a ad November, New Zealand won 
the first test end drew the second. 

The 18 teas saw 81 penalty goals 
and only 54 tries. England^ new 
president, Dennis Shnttleworth, 
has complained about “ponderous, 
limited and unambitious” rugby! 

Increasingly, penalty goals swing 
results in die home team's favor. 
Penalty-goal differentials deter- 
mined seven of the 1985 outcomes, 
and only one of those seven tests 
was won by the visitor: Tlte average 
score was 17.4 to 15.1 in favor of 
the home team; the penalty-goal 
average was 2.8 to 1.7. - 

So home advantage has become 
an extra penalty goal, which means 
that re ferees are more than ever on 
the spot. Home teams won 10, drew 
3 and lost 5 in 1985, despite scoring 
fewer tries (24) than viators (30). 

New Zealand is undefeated since 
July 1984, when it lost to Australia 
in Sydney. With eight victories, a 
draw and that loss in its last 10 
tests, it is safely idle in fiat place 
until April at least By that time 
Ireland, with four tests in the Five 
Nations tournament, could be 7-1- 
2. Or fiance oould be 8-1-1. Should 
the French improve on their poor 
record away from borne recently, 
the new year could ace a playoff for 
No. 1 tanking when France goes to 
New Zealand in June and when 
New Zealand tours France in Octo- 
ber and November. 

A different playoff was due last 
August and September, but New 
Zealand's trek to South Africa col- 
lapsed at the last minute when two 
Auckland lawyers obtained a court 
order delaying the AH Blacks’ de- 
parture. In the end. South Africa 
was idle for all of 1985. 

It was not the first time, bat the 
bad news for the Springboks is get- 
ting worse. England went to South 
Africa in 1984, but Scotland can- 
celed a tour in 1978, followed by 
Australia in 1979, Wales in 1982, 
France in 1983 and New Zealand 
in 1985. And now visits due in 1986 
by Fiance and the British Lions are 
off. Nor can the Springboks take 
port in rugby’s first world cup, 
since the host governments in New 
Zealand and Australia will not give 
them visas. 

In March the International 
Board at its annual meet- 

ing — held in Paris far the first time 
— that awodd cup to rival socca's- 
quadrennial version could no long- 
er be avoided. Canada, Fiji, Italy, 
Japan, Tonga, die United States 
and Zimbabwe will be on show in 
May and June 1987, along with all 
of the big 10 except South Africa. 
The organizers hope for a television 
audience approaching a bdltan. 

The 1986 Five Nations tourna- 
ment is set to start an Jan. 18. 
Inevitably, players and coaches are 
seeing it as part of their buildup to 
the world cop rather than as an end 
in itself. That, too, is new. 



49ers Ride Hard Over Cowboys, 
Beat Out Redskins for Playoffs 


Roger Craig of the 49ers, Cutting and catching against the 
Cowboys, became the first player in NFL history to surpass 
14)00 yards both running and pass receiving in one season. 


By Dave Sell 

Washington Past Senior 

SAN FRANCISCO — The San 
Francisco 49ers earned the final 
wild-card berth in the National 
Football Conference playoffs Sun- 
day by rallying for a 31-16 victory 
over the Dallas Cowboys that end- 
ed the playoff hopes of the Wash- 
ington Redskins. 

The 49ers will meet the New 
York Giants in the NFC wild-card 
game Sunday at Giants Stadium. 
The 49ers and the Redskins both 
finished 10-6, but San Francisco 
beat out Washington for the final 
berth because it defeated the Red- 
skins, 35-8, on Dec. 1. 

“Nothing was riding on this 
game except the home field advan- 
tage if the Rams lost” Monday 
night against the Los Angeles 
Raiders, said the Cowboys’ coach, 
Tom Landry. “That’s not n*nch in- 
centive agamst the world champi- 
ons.” 

The defending Super Bowl- 
champion 49ers won on two touch- 
down passes Joe Montana threw to 
Dwight Clark and touchdown runs 
by Jeny Rice and Roger Craig. 
Craig became the first player in 
NFL history to gain 1,000 yards 
rushing and 1.000 receiving in a 
season. 

The Cowboys led, 7-0. after they 
drove 86 yanls in 12 plays on the 
game’s first possession, with Gary 
Hogeboom, playing at quarterback 
because of a shoulder injury to 
Danny White, pasting to the tight 
end Dong Cosine for a one-yard 
touchdown. 

A short pant by the 49ers set up 
the Cowboys’ next score, Rafad 
Septien Krfrmg the first of three 
Geld goals, from 29 yards, for a 10- 
0 Ibib early in the quarter. 
Four minutes later, he made it 13-0 
with a 48-yard lock. 

Hogeboom would finish the 



Wesley Walker, left, of the Jets did not like it that Frank 
Nfinnifirid of the Browns had tried to intercept a 

game completing 28 of 49 passes 
for 389 yards and one touchdown. 

But he also had two key intercep- 
tions and a sore left shoulder after 
being sacked six times and pres- 
sured countless more. 

“In the first half, it was ns getting 
all the key plays,” Hogeboom said. 

“In the second half, it was the 
49ers. Thor blitzes really kept me 
cm my toes, and by the n umb er of 
times I was sacked you could see 
that I didn’t always pick them up 
correctly” 

Actually, the 49ers started mak- 
ing the big plays late in the second 
quarter, and they later would build 
on diem. 

Late in the second quarter, Tony 
Dorsal fumbled after catching a 
pass inside the 49ers* 20-yard line 
and Montana took four plays to 


Dolphins Take the Hot Hand Into Playoffs 


By Michael Janofsky 

New York Times Service 

NEW YORK — For aD their 
wondrous achievements, appli- 
ances and a 15-1 record that was 
unmatched by any nthw team {q 
the National Football League, the 
Chicago Bears did not finish the 
regular season as the league's hot- 
test *ww 

That distinction belongs to the 
Miami Dolphins, who were victori- 
ous for a seventh straight week 
Sunday to end with a 124 record 
and the American Football Conf er- 


ica lion. The Broncos defeated the 
Seattle Seahawks on Friday night, 
27-24, to match the Jets and the 
Patriots at 11-5. But the Jets and 
Patriots each had winning tie- 
breakers over the Broncos — the 
Jets with a better record in confer- 
ence games, 9-3 to 8 4; the Patriots 
with a better record against com- 
mon opponents, 4-2 to 3-3. 

As a result, the Jets and the Pa- 
triots will play each other for a 
third time this season at 4 PM. 
Saturday in Giants Stadium. In 
their earlier game*. the Patriots 


epee East tiflg, which tbq N flK W0P in Foxboro. Massachusetts, 
York Jets and New England Patti- 2543, and the Jets won five weeks 


ots had so coveted. 

The Dolphins’ 28-0 victory over 
the Buffalo Bills marked the 12th 
time in 16 years they had won the 
division tide outright or shared h. 
It also forced the Jets and Patriots 
to win Sunday, which they did, to 
gain entrance to the playoffs as 
wild-card teams. 

The victories by the three teams 
in the East also conspired to elimi- 
nate the Denver Broncos, the only 
other AFC team in wfld-cardcoa- 


later in Giants Stadium. 16-13, in 

overtime. 

The Dolphins, meanwhile, have 
this weekend off to prepare for the 
Cleveland Browns, the Central Di- 
vision winners, who wiD play the 
Dolphins in Miami Jan. 4 or 5. 

The Browns qualified for the 
playoffs when the New York Gi- 
ants defeated the Pittsburgh Sted- 
ers Saturday. But by loang Sunday 
to the Jets, 37-10, the Browns fell to 
8-8 and became the first team with 


a non-winning record to enter Ae 
playoffs in their current format. 
The previous worst record for a 
playoff team was the 8-7-1 mark 
posted by the Minnesota Vikings 
when thnr won the National Con- 
ference Central title in 1978. 

Denver became the first 11-S 
tram in NFL history not to make 
the playoffs. 

The winner of the Jets- Patriots 
game will {day the Los Angeles 
Raiders Jan. 4 or 5 in Los Angeles. 
The Raiders have an 114 record, 
which includes victories over both 
the Jets (31-4) and the Patriots (35- 
20), heading m th their gameMon- 
day night with the Los Angeles 
Rams, the final game of the NFL’s 
66th regular season. 

With a victory, the Raiders 
woald assure themselves of being 
the host team for the AFC champi- 
onship game Jan. 12, if they win 
their Gist playoff game. A victory 
by the Rams would guarantee the 
Dolphins the same advantage. 

In the NFC, die Giants will play 
the San Francisco 49ers at l PM. 
Sunday in Giants Stadium, with 


the winner the Bears the 

following weekend in Chicago. If 
they win, the Bean also will be the 
host tom (at the NFC champion- 
ship ga m e Jan. 12. 

The Dallas Cowboys, who wot 
the NFC East last week by beating 
the (Hants, will open the playoffs 
» g»nwt the NFC West champions, 
the Rams, in Anaheim, Calif or nia 

The Dolphins’ serge began, iron- 
ically, with a stmming 21-17 victory 
over the Jets on Nov. 10. The Dol- 
phins had lost three of their last 
four, a stretch that began with a 23- 
7 loss to the Jets on a Monday 
night. 

After consecutive losses to the 
Detroit Lions and the Patriots, the 
Dolphins had a 54 record. The Jets 
were 7-2, the Patriots 6-3. 

“Thai game turned our season 
around,” said Don Simla, the Dol- 
phins’ coach. It was won on a 50- 
vard touchdown pass from Dan 
Marino to Mark Duper with 41 
seconds left. Only 25 seconds earli- 
er, the Jets had taken a 17-14 lead 
on Ken O'Brien’s 20-yard touch- 
down pass to Rocky Klever. 


move the 49ers to the Dallas 49. 
Then Montana and Clark got cor- 
nerback Victor Scott to turn the 
wrong way on a post pattern. Clark 
caught Montana's pass in stride to 
cut the lead to 13-7 with 3:54 left in 
the half. 

“I think he was playing man to 
man,” said Clark, “and it’s tough to 
cover that if Joe has that much 
time.” 

Montana did have time. And af- 
ter Sep lien’s third field goal made it 
16-7, Montana gave a clinic on the 
32-second drill. 

Starting at his 31 with two ti- 
meouts, he moved the 49ers to the 
Dallas 21. There, on the final play 
of the half, Ray Wersdring kicked a 
39-yard field goal to make it 1 6-10. 

The Cowboys' first possession of 
the third quarter set up the 49ers’ 
first lead. Hogeboom completed an 
18-yard pass to the rookie Karl 
Powe, who had seven catches for 
127 yards as a replacement for 
Tony H3L who wfis out with a 
hamstring pull. After a completion 
to Dorsett, Hogeboom tried to pass 
to Cosine, but it was intercepted by 
the comerback Dwight Hicks, who 
returned the ball to the Dallas 44. 

The 49ers* ensuing seven-play 
drive involved two passes to the 
tight end Russ Frauds and five 
runs by Craig, the lasL of which 
came from four yards out on a 
pitch and made it 17-16, a lead San 
Frandsco would never lose. 

With 11:37 left in the game and 
the scene 24-16, the Cowboys had 
fourth-and-rix indies at the 49ers' 
28. Fullback Timmy Newsome 
tried blowing through the middle 
and gpt nowhere when he was hit 
by the defensive end John Harty. 
Newsome bounced off the pile, 
tried to go outside and lost 11 
yards. 

Said Harty: “They made good 
plays. We made good plays: We 
won. They lost.” 

In another game. The Associated 
Press reported: 

Cota 34, Oilers 16: In Indianap- 
olis, Mike Pagel passed for three 
touchdowns while Randy McMil- 
lan and Albert Bentley ran for two 
against Houston. 


•» *1, 


OREBOARD 


ropean Soccer 


Football 


Hockey 


Bototaa FM Dtvtstoe 
une 
a Baorsctat 1 
dm l Standard D 
1 Lofeeren 2 
» 7 , Woregem z 
klWalnM 6 

a Andtrtectt D 
l FC Branoe ] 

X 50 m Ira | 

Eartte HM Dfvbkw 
imrtdi X wofent I 
Fraaa Hut Otvtston 

Marmuie a 
L Lourt 0 
• XMotzD 

Smite Fin* otvfiim 
aim 1 

I, Ratf soctatad 0 
UBtei 
'atafida 3 
f A Esxmot <1 
1. Santander 0 
Zcmamo 0 

ll *W L Aitatfco Madrid I 
5 Lob Palma, 1 


NFL Standings 


AMERICAN CONFERENCE 



■art 
W L 

T M. PF 

PA 

x-Mtaml 

12 4 

8 

-730 438 

330 

v*N.Y. Jets 

11 5 

0 

488 393 

2M 

vMew Era tad 

11 5 

8 

488 363 

290 

Inotonapolks 

5 11 

0 

317 320 

386 

Buffalo 

2 14 

0 

.125 200 

381 

X-Ocv*tand 

Caatral 
8 t 

e 

-500 2S7 

2M 

Cincinnati 

7 9 

0 

430 441 

437 

Pittsburgh 

7 9 

0 

438 379 

355 

Houston 

5 11 

0 

312 304 

412 

x-LA. Raiders 

wert 

11 4 

0 

733 338 

302 

Denver 

1) 5 

0 

488 310 

329 

Seattle 

B ft 

0 

-5DO 349 

381 

San Diego 

ft ft 

a 

J0D 667 

OS 

Kansas CHv 

4 10 

o 

•375 317 

3» 

NATIONAL CONFERENCE 


X -Dallas 

East 

10 6 

0 

425 357 

333 

V-N.Y. Giants 

18 6 

0 

405 399 

283 


10 « 0 jasvT m 

PhllodateNa 7 9 0 438 2*6 jro 

SL Lout* 3 II 0 JJ3 zm 414 

Caatral 

0-CNcaao IS 1 .0 -MO 456 19* 

Cram Bay 8 0 0 500 337 355 

Mlnraota 7 9 0 .438 346 359 

DotraK 7 9 0 /OS 3*7 366 

Tampa Boy 2 M 0 -t25 294 *a 


NHL Standings 


WALES CONFERENCE 


Basketball 


tfTlRN CONFERENCE 
AHotele DhMN 



W 

L Pet 

SB 

21 

6 

-778 

— 

17 

13 

JBt 

5 

16 

13 

-571 

5V» 

11 

14 

481 

8 

9 » 

Man 

jm 


19 

12 

413 

— 

U 

14 

317 

3 

14 

14 

-500 

3VS 

11 

15 

464 

41 h 


11 20 
19 


5TfiM CONFERENCE 


355 

-29* 


JOl — 
AZ1 — 
JOi 1 
sa zv» 
A 81 4 
JJ1 SW 

t» - 
-546 9 

sn 14 

■OT 14 
357 I4V» 
-323 16 


18 11 
1 * 11 

0 17 11 

16 14 
13 14 

» 9 19 

„ PoeMc dnum 
‘ 34 3 

17 14 
11 18 
10 17 

*» 18 18 

» 10 21 

*WOAr* RESULTS 

28 XT 36 It— 100 
MSI n 13— 93 
1 IM644 3L Ewfns 7-11 7-W71; 
J W 27. RoMfWM 18-19 W 2S. R*- 

* Vnrk 52 (Evrtno. CummiflM *), 
si ( Robinson 161. AteUti: Now 
Vfowt), wsaftbwtan » {Johnson 

23 39 16 33— U5 
31 36 S 29-419 
7 7-2 32. Hinson 9-17 8-4 26; 
U «-IO 17, Blackman 4-11 4-4 IX 
MltoSHPartinsil.ClMlandS. 
Aahti; Dallas 34 (Horaar I}, 

* (Baatay 14). 

26 22 28 28—114 

27 29 31 38—121 

IN l*-27 M0 M 

'-15 11-14 2X tncU-Ji M7 8-9 24. 
«nwr37 (EnsUteO), Portland 61 

Danvtr 38 (Hanxltk 9). 
(Paiaan 11 ), 


Selected College Results 

EAST 

Harttard 10. Holy cross AS 
Vermont 66. Utica 57 

SOUTH 

North Caron na 186, Citadel 51 
South Carolina 106. Rhode lakmd 61 
MIDWEST 
Purdue 19. Detroit B 

FAR WEST 
Air Force So, Army SO 
Oraaan SL 68, Southern Cal 64 
Portland 59. Fullerton SL 45 
Soton Hall 76, Stanford 75, OT 

College Top 20 

(How tea too 30 teams M TM Associated 
Pram OastotbaO paU-tercd teal week:) 

1, North Carolina ( IM) boar Jacksonville 69- 

65; boat Stanford B9-55; teal Citadel 104- 
SI. 

2. MlcMflon (10-01 bool Northern MidtTaan 
98-76. 

X Duke 1 901 neat Davtdson 69-51 

4. Syracuse 17-8) beat SL Bonaventure 8M4. 

5. Gaoreotown (Ml beat American 8M»; 
beat DePaut 85-70. 

6. Kama* 19-11 beat Ariwoso* 8978. 

7. Georulo Tech CM) beat Old DanliMifc- 

86: beat Terns A&M SMB; beat Jackson- 
vlU«7M3. 

8. Oklahoma (9-0) boot New Orleans 10M5. 

9. Louisiana State (11-01 bed* Lamar 7*57; 
beat Texas 7365; boat Southeast laulsf- 
ans 12-61: beat Southern 91-81 

ID, Memphis State (8-0) beat Mississippi TKfc 

11. SL John's I9-D beat Niagara 10661. 

12. Ne v mta Lcfl Veoos (7-11 beat San Diaoo 
State 1 05-65; best lem 

11 Kentucky (7-1) beat East Carolina 8*52; 
beat PeaoerdifK 88-56. 

14. Alabanw-BirmlnatKBn 111-1) beat Cincin- 

nati 6953; beat Campbell 86-46; beat Ten- 
new e e- C l ui ll u naoB O 7MB 

15. I moots (7-3) beat Missouri 67-55. 

16. LomsvHie (6-2) "takma **«■ 

17. Mdlono I6-?) last to Loulsvtlte *553; bear 

lowa Stole 86-65 

18. DePool IS-1 ) beat Northwmtern 70-*7; last 

to Oaoraetown 85-70. 

19. Naira Dame 15-11 beat Valparaiso 9B-S*. 

20. Virginia Teen |8-IJ beat W.viratata 7659. 


. Ram* 11 4 0 . J3S 334 361 

y-San Franc 10 6 0 42s 411 263 

New Orleans 5 11 0 .313 394 401 

Atlanta 4 12 0 350 282 493 

(x-dhrfslan champion) 

(y-wtu-cord Playoff berth) 

FRIDAY’S RESULT 
Denver 27. Seattle 34 

SATURDAY'S RESULTS 
New York Starts 38. Pittsburgh 10 
W as hington 27. St. Louts 16 

SUNDAY? RESULTS 
Atlanta IS New Orteane 10 
Miami 28. Buffalo 0 
CNcaoo 37, Detroit 17 
New England 34, OndnnaN 23 
New York Jets 37, Cleveland 10 
Green Bov 20, Tampa Bay 17 
Phlledetahta 37, NUmunata 35 
Kaneae City 38. son Dtaea 34 

fmnanaoaHt 31, Houston >« 

San Francisco Jl. Dallas 16 
MONDAY'S GAME 
l— A. Raiders at LA. Rams 

(Regular seam ends) 

College Results 

Monday Baert 
tat Sob Dtvoo) 

Arkansas V. Arizona Slate 17 


Ptilkxtotohta 
Was h i ngton 
NY It 
NY 
Pittsburgh 


T Pte GP GA 

0 52 160 107 

4 44 120 102 

9 33 122 122 

2 32 130 115 
4 32 131 136 

1 27 125 145 


W L 

26 9 

3D 8 

13 11 

15 17 

14 17 
U 19 

Adams Division 

18 13 2 38 132 110 

17 12 4 38 144 121 

16 11 6 38 t3S 113 

16 16 2 34 124 117 

16 14 1 3) 127 125 

CAMPBELL CONFERENCE 
Norris DiviteM 

St. Louis 15 12 4 34 117 111 

CWcaao 13 15 4 SB 136 750 

Minnesota 10 16 7 27 137 m 

Toronto ■ 19 S 21 121 144 

Datrolt 7 20 4 18 101 162 


Mantraai 


Buffalo 


Skiing 


World Cup 


MEN 


(at Cha nn el*, France) 

t. Pefcfca Suorso, nU0Nt3Mte*t,Z7lfeet 10 
Inches. 1967 Points. 

2 Jens Wetasflog. West Germany. 293. 282-2, 
194.1. 

X Frederic Barger. Franob2M2BM. 1916. 

4. Lodiskiv dmwl Ctednetovokla m 
28*9. 191 JL 

5. Miron Tbphl Yugoslavia, 2BJ-9, 292, m 
A. Patar Rotradn. West Germany, 29% 28X9, 

10M 

7. GOnter Sfnmer, Austria 2KM, 2856, iwx 
X Moth tat Debate k. Yugoslavia, 39% 3885. 
1877. 

9. iWfen KoklunM, Finland. 39% 27V-T0, «7A 

10. UK Elndeisen. West Germany, 29% 277-1 
1864. 

11. □ Idler Mai loro. France. 278*18, 292. 186X 
12 Antonia LnteaeliL Italy, 2834 38M 1*63. 
U. Parti Krtdconen. Finland. 283-2. Z38-HU8L1 


Edmonton 24 7 4 52 189 141 

colaary 17 13 3 37 -142 111 

Vancouver 12 19 4 28 132 148 

Winnipeg 12 30 4 28 133 149 

Las Angeles 8 21 4 » 111 170 

SUNDAY’S RESULTS 

2 1 4—7 
1 3 1—5 

Froncesctiettl Cl). Vstteh Cl >, Haworth 117), 
Laugbiln (9), Ca r penter (8), Adams 3 110); 
Ashton (11). GtDls (9). AAtastny 19), Sauve 
(7), Goulet (25). Shota on eort: Washington 
(on MoiorchuM 135-13—31; Quebec (on Jan- 
sen! 13-14-14—41. 

Boston 1 2 9—3 

Buffalo 1 1 *— J 

McKenna It). FoMgna DSi.Cvr 157, Ho ue loy 
<9). Hughes 12); Unseman (10). Reid 171. 
Crowder (U). Sbats m goat: Barton (on 
rosso) 9 9U-32; Buffalo (on fttooln) 13-7*9- 
38. 

HHfbvroh 8 110-4 

PNtadetablo 8 1 1 W 

Brawn 14), Slnbolo C18). Craven (11): Le- 
rrteux (3D), RwkDwatci (12). Shots on goal; 
Pittsburgh (on Froese) 6-13*4-27; Phlbdet* 
Prta (an Moloehe) 1M-TM-3X 
Wtartaeg 2 2 3-7 

Rdma p tsn 1 1 3-5 

NeuteM2 (12), Bos e hman (15). Hawerdwk 

2 (243, Mutton (8), Steen (7); Hunter (Bl.Sher- 

ven (1), Napier (12), Gretzky 2 (23). Shots aa 
goal: Winnipeg (an Fphr, Moag) 1444-21; 
Edmonton (on Hayward) 94-14—28. 
CDiOmY 2*8 4-4 

Chicane 2 111-5 

Baraev in (4), Paterson (sl.Ywemctirti (7), 
TJVWray 2 (19)i Hunter 12), cwibon 06). 
Baxter (2). Rtebroaoh (9). Shots aa geat: 
Cotaary (an Bmennan. Saw*) 17-18-12-0— 
47: CMcaso (on Lemelin) 8-15-125—41. 
Mtewesota 4 3 1-8 

NOW Jersey 1 1 1—8 

Blunted 3 (19), Payne (1). Maruk 2 (7). 
CkxaralimiDiGagnem.PKheffe (5). Rus- 
sell <11. Shots Off goal: Minnesota (an Resdv 
Chewier) IS**-*; Hew Jersey (on 
Beoucre) 9*19-36. 



Amputee’s Ring Return 
Taking Strange Turns 


Up Awodaud tent 

Craig Bodaanowski, right, who has an artificial foot, in Us 
bout against Francis Sargent before the disputed knockout 


The Associated Press 

CHICAGO — The loser of a 

boxing rontrii that drew nnti nnal 

attention to a fighter frying to 
rosier, a comeback following the 
amputation of his right fool said 
Sunday he had been misunder- 
stood when he said he “threw the 
fight” 

“I was off my pace completely,” 
Francis Sargent said in a telephone 
interview from his home in Peoria, 
minds. “I was not fighting my 
fight because of the stress I was 
under.” 

Sargent said that prior to the 
Dec. 14 cruiser-weight bout against 
Craig Bodzianowski be had re- 
ceived threatening telephone calls 
from someone telling him, “You'd 
better go down.” Bodzianowski, 
oho was wearing an artificial foot, 
went the fight on a second-round 
knockout 

Sargent was quoted in Sunday’s 
editions of the Chicago Sun-Times 
as saying, “I threw the fight" He 
said in the telephone interview that 
he meant that his stage fright and 
concern over the threats prevented 
him from boxing to his ability. 

“I went down to give myself 
some time to recuperate,” Sargent 


Bullets Tie NBA Mark — lor Missing 


Transition 


BASEBALL 


?MDJ.WA»OLIS— Owwd FKnJ CHWcr 
ond Curt brawn, p ifetwra- 

FOOTRALL 

LA RAMS— Ad (voted Woody Vann, line- 
backer. Placed Jamas McDonrtd, iigiil end, 
an intarad reserve. 


HOCKEY 

Nrttenat Hockey Ua*H 

PLY. RANGERS— Emt Tcmr Frttriu. <te- 
fanceman. to Mew Haven, Ameriaai Hoacrv 
League. 

COLLEGE 

MEMPHIS STATE— M rad Chortle Bailey 
a* football eaach. 


Cwpibi bv Our Staff From Dapettba 

WASHINGTON — Manute 
BoL their amazing 7-foot-7 (23- 
meter) rookie, is doing the job de- 
fenstaly for the Washington Bul- 
lets. Kit the slender giant seems 
lost on offense, and the Bullets 
seem to be paying the price for that. 

After building a 68-53 halftime 
lead Sunday over the New York 
Kro^ft, the Bullets lied a modern- 
day National Basketball Associa- 
tion record by scoring tally 25 
points in the second half. And lost, 
100*93. 

Not since the NBA adopted the 
24-second dock has a team scored 
fewer titan 25 points in the last half . 

Boston scored 25 m the second 
half against Milwaukee on Feb. 27, 
1955; St Louis did it against Bou- 
ton on Dec. 26, 1964, and Golden 
State did it against Boston on Feb. 
14, 1978. 


With Jeff Ruland, who leads the 
Bullets in scoring and rebounding 
and is their second-best assist man, 
out with a broken ankle, Bol has 
been the starting center. He played 

NBA FOCUS 

25 furnntes agiringt tbc Knicks and 
did not take a shot or soore a point 

Ruland is “the player we could 
least afford to lose,” said the Bul- 
lets’ «YWfth, Gene Shoe, “and there 
isn’t any replacement for him.” 

“I wasn’t deceived by the 68 
pants. I figured when the game 
was over, we’d be lucky to have 
100 .” 

The Knicks. in winning for only 
the second time in 12 road gfctnes. 
trailed by 73-59 when their touted 
rookie; Patrick Ewing, went out 
with his fourth foul early in the 


third quarto - . But Pat Cummings 
sewed nine points in a 16-0 bum 
that put the Knicks mi top to stay. 
It was (heir second victory in a row, 
and in both games they have made 
the decisive rally with Ewing on the 
bench, 

Ewing had 21 points and nine 
rebounds in 21 minutes Sunday, 
Bol had four rebounds and blocked 
six shots. 

The Bullets made 64 percent of 1 
their shots in the first half, but were 
5-for-24 in the third quarter. 

Jeff Malone and Cnff Robinson 
each scored 17 points in the first 
half, and they finished with 27 and 
25, respectively. But the rest of the 
team managed mly seven points in 
the second half. 

"Noftnqg happened in lie sec- 
ond half, believe me, nothing," 
Shoe said. “We ran the same plays, 
took the same shots." (LAT, AP) 


said, reading from a letter he 
mailed to the Illinois Athletic Com- 
mission, which is investigating the 

fight* 

“He did receive a Wow to his 
right eye and the eye was dosed,” 
said Jeny Moore, Sargent’s manag- 
er. “You can’t fight when you can’t 
see. Whether he was doing his best. 
I don’t know. 

“I personally wasn’t very happy 
with the performance he pul up.” 

Sargent, who is black, said some 
of the calls were racially motivated, 
and that they continued after he 
arrived at Alan Shepard High 
School in Palos Heights for the 
fight. 

Sargent said he did not believe 
Bodzianowski, his manag er or the 
promoter were responsible for the 
threats. 

The athletic commission chain . 
man, Gordon Volkman, said be has 
been questioned by numerous peo- 
ple, who either saw the fight in 
person or on tapes, about when the 
knockout actually occurred. 

Many have questioned how Bod- 
danowiki, who had not booted m )9 
months, could so easily defeat a 
man against whom he wot a close 
10-round decision in his last fight 
before the motorcycle accident mat 
cost him his lower right leg. 

Stanley Bag, the referee, said, “I 
thought Bodztacowskfs right-hand 
punch put him in trouble But I 
must say I was surprised” Sargent 
did not get op. 

Bodzianowski, of suburban Tin- 
ley Park, is preparing for another 
fight in February and charged that 
those who doubt his victory are 
prejudiced against the handi- 


‘Tt’s the people who hav 
legs and can't make anything 
themselves that can’t believe 
leeged man can do anythin; 
said. 

Bodzianowski 24, Trent in 
fight with a 13-0 record, incl 
11 knockouts, and was a 
Golden Gloves champion. Sa 
32 and a professional since 
has a record of 8-H 
. 111 ,*“>* 1984, Bodrianc 
right leg was shattered in thi 

-ent.and his leg was amp i 
nine inches below the kne 








Page 16 


BVTEBWATtOWAL HERALD TRIBUNE, TUESDAY -"WEDNESDAY. DECEMBER 24-25, 1985 


ART BUCHWALD 

Christmas Takeover list 

YT7ASHINGT0N — Little T. 

Y t Bone SmVJcff n 



— walked up to 

Santa Class, who was standing on 

ho,” aid Santaf^And whantoyou 
want for Christmas?" 

T. Bone gave him a list 

Santa scanned it. “Yummy 
Chocolate Chip Cookies? That 

shouldn’t be a 

problem. How 
many cookies do 
you want?" 

“I don’t want 
cookies. I want 
the company” 

“What on 
earth for?” San- 
ta asked. 

“So 1 can 

•merge hwiihAI- . . , 

pha Gfagrrirals, Bucnwaid 
Beta Ballbearings and Picasso’s 
Pizza.” 

“Ho, ho, ho. How do yoc expect 
to pay for it?” 

-In a leveraged buyout. HI sell 
off Rambo Steel, Rocky Asphalt 
and the Joan of Arc jeans division.” 

Santa said, "But Y ummy Cook- 
ies has a poison pill in it to prevent 
cute little fellows like yon from 
taking over the company.” 

Little T. Bone started to poll an 
Santa’s beard. “I know that, stupid. 
That’s why Fm willing to $50 
million in greenmail to go away.” 

□ 

Santa tried to change the subject. 
“If you can't have chocolate chip 
cookies, what else do you want for 
Christmas?” 

T. Bone wiped his noseL “Ford.” 

Santa said, “Ho, ho, ho. You’re 
too young to drive.” 

T. Bene replied, "I don’t want to 
drive. I want the Ford Gx, includ- 
ing the aerospace division.” 

Santa went, "Ho, ho, ho. No one 
can buy Ford.” 

T. Bone got red in the face. 
“TTiafs what they said about TWA 


The Associated Press 

KASSEL, West Germany — 
“Dor MOD, die Stadt und der Tod” 
(Garbage, the City and Death), the 
Rainer Werner Fassbinder play 
whose premiere in Frankfurt was 
canceled six weeks ago because of 
protests of anti-Semitism, will he 
given a reading here Jan. 26, city 
officials said Monday. 


and Revlon. I can buy anything if 
you get me a loan from the 
you’re standing in front of." 

Santa seemed terribly 
“Good little boys don't borrow 
money without collateral. They can 
get their fingers burned. How 
about a train set?” 

Little T. Bate thought about it 
*T might be interested in Southern 
Pacific if I could sell off the real 
estate and get the air rights to die 
Los Angdes railroad station." 

□ 

Santa was getting weary. “So tell 
me. Have you been a good little 
boy T 

“Very, very good,” T. Bone said. 
“Don’t believe what you read 
about my joining Senator Jesse 
Helms in his fight to take over CBS. 
It had nothing to do with firing 
Dan Rather. I figured Jesse knew 
how to run a network better than 
the people who are there now” 

Santa said, “Would you Eke a 
Christmas peppe rmin t stick?” 

little T. Bone shook Ms head. 
“No, but I might be interested in 
Christmas.” 

Now Santa had to take notice. 
“What do you mean Christmas?” 

T understand if s a very good 
money-maker. I read in The Wall 
Street Journal that in a good year 
Christmas grosses more than Mc- 
Donald’s.” 

Santa held his stomach. “Ho, ho, 
ho. Christmas is not for sale.” 

“Everything is for sale. It's just 
how you shape up the deal to 
sweeten the pot. Fd be happy to 
spin off du: religious part of it, 
which is a money-loser, and just 
bold onto the gift divisions.” 


Santa said, “How do you intend 
to pay for it?” 

“FD issue Christmas junk fronds 
with your picture on them Ibis 
will assure die investors that the 
bonds are guaranteed by the U. & 
government” 

“CHRISTMAS IS NOT FOR 
SALE!” Santa screamed. 

Five broken walking by heard 
Mm and in an hour the rumor was 
all over the street that someone was 
making a takeover bid for Christ- 
inas. Ibis drove the market to new 
heights and caused the exchange to 
suspend all trading in the stock. As 
usual, everyone made a bundle ex- 
good guys like Santa dans, 
was left holding the bag. 


Lady of 'Bountiful’: Geraldine Page’s Odyssey 


By Myra Farsberg 

JV<v York Tuna Scrncv 

N EW YORK — In a dark bus 
station in Harrison, Texas, 
an dd woman who is trying to 
return to a place called Bountiful 
vows she will reach her destina- 
tion no matter what. “I will go 
on,” says Carrie Watts stubborn- 
ly. “I will walk those 12 mOes if I 
have to." 

The actress playing the deter- 
mined Walts m “The Trip to 
Bountiful, 7 ’ the new film directed 
by Peter Mastason and written 
by Horton Foote, is m^oqnally 

dine Page. 

“Fve been fortunate to be 
choosy about the roles I’ve taken 
daring my career — and Fm stub- 
born,” Page said. “So now I can 
lode as the parts Fve done and 
they make a very nice bouquet” 
They indnde not only the lead 
role m “Bountiful” — winch 
many predict will earn her an 

wghfh Oscar no mi n a t i o n — but 

parts in Sam Shqnnfs new play, 
“A Lie of die Mind," and Mihail 
Baryshnikov’s film “White 
Nights." 

Carrie Watts, the hymn-singing 
heroine of “Bountiful,” yearns to 
leave Houston, where she’s 
cooped up with her son and Ms 
mean-spirited wife. “What I real- 
ly love about Mrs. Watts," Page 
said, “is her self-dramatization. 
Til walk those 12 miles.’ She sees 
herself as going up to Mount Ev- 
erest. Of course, she doesn’t stop 
to think about what will happen 
when she gets there. Whether any- 
body will be there.” 

“The Trip to Bountiful” deals 
with the destiny of a displaced 
woman who is desperately fight- 
ing to regain her roots and, in the 
process, her sense of purpose and 
self-respect It seems apt that 
Page — who has made a c are e r 

playin g female diwaff fp q witwi 

by the United Stales’s p m mi nr 
Southern writers — should be 
portraying a simple Texas woman 
whose most fexvent wish is to go 
home 

Set in 1947, “The Trip to Boun- 
tiful” was bom as a teleplay on 
the NBC network in 1953 when 
the Texas playwright Horton 
Foote was doing Ms “TV stint,” 
working for the prodneer Fred 
Coe. 

“Coe had about five writers,” 
Foote recalled. “He had an adver- 


S-rfgfcte, . 


i 

&:• '• *v ' 


Page as Carrie Watts in “The Trip to BounfifuL” 


he had to respond 
to, so he’d ask writers to give Mm 
a general idea and he’d get clear- 
ance before they started on a pro- 
ject Well, I was maybe supersti- 
tious, but I fell if 1 told someone 
beforehand it would kQI it for me: 
So I wrote ‘BountifuT and then I 
told Coe I was thinking about 
writing a story about an old lady 
who wanted to go back to her 
hometown. He said 0. JC. and I 
handed in the play — which Fd 
already finished — two days lat- 
er." 

Lillian Gish, as Came Watts, 
gave a powerful performance. Af- 
ter the show was over, the phanes 
at NBC ^nst went wfld,"r oote 
said. “This was the first time they 
had this kind of a spontaneous 
response from a television pro- 
gram.” Within two weeks, Foote 
was working on a Broadway pro- 
duction bared on the tdeplay, in 
which Gish also starred. 

In the summer of 1984, Peter 
Masteison, a native Texan and 
Foote’s cousin, was at 


the Sundance Institute in Utah, 
Robert Bedford’s training ground 
for young directors and actors. 
He was pondering what his first 
film project should be. “I was 
talking to Robert Radford, and he 
said. Yon ought to pick some- 
thing from your home that you 
fed deeply about and do it* So 
Car On, my wife, said. Well you’ve 
always wanted to do “Bounti- 
ful.” ’ And I immediately called 
Horton and he said yes.” 

Foote said: “I thought that 
Geraldine would have an under- 
standing of this particular kind of 
w oman better than any of her 
contemporaries. She has a sense 
of place. Game Watts is a woman 
who's been through a great deal; 
there’s a spiritual quality about 
her that keeps her going. She has a 
manifest strength from aB sorts of 
unexpected sources. She’s a survi- 
vor — and I think Geraldine 
grasps that ” 

Indeed, Page has been some- 
thing of a survi v or . Bora 61 years 
ago in KirksviHe, Missouri, die 


derided when she was 17 to be- 
come an actress after participat- 
ing in a dtorch play. She attended 
the Goodman Theater School in 
Orirag n and instead of going to 
New York — “I couldn’t even get 
an Equity show in Chicago back 
then" — acted in rammer and 
winter stock in the Midwest- “Af- 
ter five years of stock,” she re- 
called, “my teacher from Good- 
man finally said, ’Will yoajust go 
to New York?* She land of booted 
me out of the Midwest.” 

While toiling at the inevitable 
jobs taken by out-of-work ac- 
tresses — sales derk, hat-check 
girl, lingerie model — she ran Into 
a fellow student from Goodman, 
Jos4 Quintero. That meeting 
eventually led to a small theater in 
Greenwich Village and the part of 
the lovelorn Alma WinermHer in 
the 1952 revival of Tennessee WB- 
liams’s "Summer and Smoke.” 
That production is now consid- 
ered historic: Williams’s play was 
resurrected, and Quintero and 
Page became ovenrighi successes. 

What followed for Page was an 
auspidotis Broadway debut in 
“Mid-Summer’’ and a starring 
film role with John Wayne in' 
“Hondo.” But her film contract 
with an independent producer 
was canceled after finishing foe 
western. “It was during foe Mc- 
Carthy era, and I had studied act- 
ing with Uta Hagen, who had 
riweied the conservatives by star- 
ring with Paul Robeson in *Othd- 
la’ I didn’t work in films agon 
for seven years.” 

She returned to New York and 
continued to appear on the stage 
— in “The Rainmaker," “The Im- 
moralist," “Separate Tables" — 
then in 1959 accepted a part in a 
Tennessee Williams play that 
would stamp her as the quintes- 
sential Williams actress: the 
boozy, brassy Alexandra Del 
Lago in “Sweet Bird of Youth.” 
Until then fog had giwi'iiinwl in 
shy spinster types; “Sweet Bird” 
proved that the dishwater Monde 
with the small voice could bellow 
and snail with the best of them. 
She was proclaimed an overnight 
success yet again and won back- 
to-back Oscar nominations for 
the film veraons of “Summer and 
Smoke” and “Sweet Bird.” 

There followed more film and 
theater work — notably her ef- 
forts, along with her husband, 


Rip Torn, in foe short-lived Ac- 
tors Studio Theater — and what 
she calls “the lean years." 

“Fm not what you call a com- 
mercial actress, she mused. 
“Even though the parts in the 
movie versions of ‘Summer and 
Smoke’ and ‘Sweet Bird’ were 
meaty roles, they weren't money- 
makers. But I’d rather have peo- 
ple think I was a great actress 
than a bankable one. And Fve 
had the chance to interpret foe 
work of writers who have instilled 
thrir woric with wonderful humor. 

. “Just look at “Bountiful'; the 
humor is magnificent The way 
Horton writes has so many facets 
— ordinarily if you had a story 
like tins written in a conventional 

way, it would be so sentimentaL 
But he has so many tides to her. 
He balances all foe dements.” 

In Shepard's “A Lie of the 
Mind,” sue is pleased to be play- 
ing Lorraine, the crazed mother 
of a wife beater, who, when told 
that her son probably murdered 
Ms spouse, retorts: “Name a day 
he wasn't in trouble.” “When I 
talked to Sam about the produc- 
tion, he told her he wanted her to 
play Lorraine “because it would 
be less expected.” 

A thirst far comedy caused her 
to jump at the chance to read for 
Woody Allen when he was castmg 
a film in the late 1970s. But the 
film turned out to be the Berg- 
manesque “Interiors,” and Allen 
was decidedly not in the mood for 
laughs. Pags found hmdf play- 
ing a neurotic interior decorator, 
and that multilayered perfor- 
mance turned out to be “some of 
my best work.” 

A Method actress who has been 
known to chew foe soenoy in her 
time, foe said she was trying to 
break her “bad habits.” Master- 
son recalled that in “Bountiful” 
“I just let Geraldine acL But she 
warned me to watch out for when 
she was up to her ‘old tricks.’ 
Whenever she started to screw up 

her face too much, I would tell her 
— in a nice way.” 

■ Fihn ‘Richly Detailed* 

Vincent Canby of The New 
Yank Times says Page’s perfor- 
mance as Carrie Watts “ranks 
with the best thing s die has done 
on the screen” and calls “The Trip 
to BountifuT “a small, richly de- 
tailed film that realizes Foote’s 

particular visiting ” 


PEOPLE 


Guggenh&m Buys Boefe 
Brancusi 9 s 'Muse’Bust 

“The Muse," an abstract bust ty 
Constantin Brancusi, goes qaf~b- 
pby at the Guggenheim Museum 
in New Yoric today, four days after 
the museum pud more than $2 
millio n to get it back after a 14-year 
absence caused by an Ownership 
dispute; The sale was arranged by 
the Manhattan art dealer Andrew 
bispa, who was convicted last 
month of evading $4 million in fed- 
eral income taxes. The sculpture 
was purchased at auction in 1955 
by Beana Butova, wife of the watch 
manufacturer Aide Blilava. for 
$7,000. Under the terms of Aide 
Butova's will, it was bequeathed to 
the museum three years later, tat 
Hernia Butova fought to keep “‘.he 
Muse” and in . 1969 won a court 
battle for its return. The 171Wneh- 
tall (45-ccatimeter) marble bust 
was removed from the Guggen- 
heim in 1971 under a court order. 
In 1981, Mrs. Butova sold the work 
for $800,000 to Crispo. The Gug- 
genheim's director, Thomas Messi- 
er, the repurchase through 
Sotheby’s. 

□ 

Homed Cosed, 65, has left the 
ABC television network after 20 
yean. The outspoken sports com- 
mentator will continue to weak on 
ABCs radio network, where he be- 
gan in 1953 with the show “Speak- 
ing of Sports.” Rooae Artedgje, 
president of ABC News ;i.id 
Spoils, said Cosell asked to forgo 
ms 1986 contract commitments 
with ABC Sports. 

□ 

Peter Bogdanovich, director of 
filing such as "The Last Picture 
Show,” “Paper Moon” and 
“Mask,” has fried for bankruptcy 
in Lps Angdes, saying be had only 
S21J7 in the bank and $25.79 in his 
pocket. A hearing on the petition 
was scheduled Jam 10. Bogdano- 
vich said he lost more than S5 mil- 
lion on the film “They All 
Laughed," starring Ms girlfriend, 
Dorothy Stratton, who was killed in 
August 1980 by her estranged hus- 
band, Pari Snider. 

□ 

An 8-year-old pianist, Frederick 
Kempt, received a standing ovation 
and took five curtain calls after 
becoming the youngist soloist ever 
to play with the Royal Philharmon- 
ic Orchestra. At a concert in Ms 
hometown of Folkestone, En gland. 
he played foe first movement of a 
Mozart piano concerto. 




i «Y 


j 


. £■ 

'■A 


SEASON’SGREETTNGS 


US 1HE SEASON TO BE JOU.Y. Mar- 
ry Ontam tool BH &Q«m Bot- 
tom OtrittiKs 1985. 


ANNOUNCEMENTS 


MCOHOUCS 


ANONY MOUS ■ 

5965. Rome 


SUN. N.Y. TUe - Eurojet deCvay. 
Write Krywr. PQfl 2. BIOOO Bnrafo 


PERSONALS 


MBUEY CHKSTMAS AND o Hcppy 


BIRTH 


ANTHONY FERRERO 


21, 19BS 
1760 *0 

CtewraMWhM A ltd WIAh to 


MOVING 


ALLIED 

vanlbcs m 

OWER 1100 OffiGS 

wonnwtoe 

USA ARM Von Unas tnfl Carp 
(0101} 312-4B1-S700 

Or a£ our Agency Europerai office 
PARIS Deabardee bitamteia 
(1)43 43 23 64 

hmnhwt J2LTS2 

(069)250066 

DUSSELDORF/RAT1NGEN 

(02102] 45023 UM5. 

MUNICH LAIS. 

(089) 142244 

LONDON JTSSZ 

(Ol) 953 3436 
Cefl far AM's free «*naM 


INTERDEAN 

FOR A HUE BT1 MATE CAU. 


AMSTERDAM: 

ADOS. 

BARCELONA; 

BONN: 


BBUSSBS; 

CADIZ. 

RANKRUET: 


1(0711 99.9X34 
(01V9A1.12.12 
0316323111 
(09241 VM0&2 

1 0421 1170591 

■720.95-631 


LONDON: 


MANCHESTER: 

MUNOt: 

MAPLES: 

PARK: 

ROME 

VBMA: 

ZURICH: 



GONTMEX. SmaB & median mows, 

baggage, can vraridtede. Cal Oxx- 

Sterara 42 81 18 81 frwo r Opera}. 

ALPHA-TRANSIT, Parti ffih: 4209 1517 
Ste/oir, car, baggagt, afl amririei 


REAL ESTATE 
FOR SALE 


PARS ft SUBURBS 


BELL 

GROUP MTBMATK3NAL 

finch far you high quatfy apartments 
and randoms and hopes tosotWy al 

BEST WISHES FOR 1986 

TELEX 612906 F. TEL 47 27 34 66 


SWTTZZBLAND 


“J® <»«A+ UIGANft Moo- 
tlliiic, Gjtood regnv team & 
marw maurtan resorts eta. For doners 
rontxy superb now cpartjnerti/efao- 
jeh/vb. Al pnw. ehcfc*. 


Swhi 


SBCID 
- -cuana 

tegtno office 91/OTM8 




BEAL ESTATE 
TO RENT/SHARE 


GREAT BRITAIN 


tri*®ON. Forth® bait handled flab 
hawes. Conte the S pni q W* 
2*P4jtey, and tew Tet South of 
Pat 352 Bill, North of Pvt 722 
5135. Telex 27B46 MjPE G. 


IJMYW IUXURY APARTMBttS. 
Pimrt^Tefc tendon 01-629 
1708. Teh* 263001 FANR UK G. 


PARIS AREA FURNISHED 


74 CHAMPS-&YSEE5 8ffa 

Swig, 2 or 3-roora apartmait 
_ Qtb month or non. 
tE OARIOGE 43J9.67.97. 


SHORT IBM STAY. Achates* <* a 

hotel vAhouf neonvemnen, feel te 
home in nice rtin faa, one bactoom 

and man in ftris. SORHJMi 80 rue 

de rUnrewtet. Farii 7A. 4544 3W0 


,3X1X110 TO 4 ROOMS. Week, north. 

yv rateA Luxembourg & Montpo r- 
naae . No ogprey fees. 4325 3509 . 


ST- GBMAW DC5 PRES. Men cay 
tfudio far htew Year, tail 43 365522. 


EMPLOYMENT 


SECRETARIAL 
POSITIONS AVAILABLE 


wn VUBUC RBATKMI egney in 

Pan Mela anponancad bXngmd iee- 
retary EngEdv French. Smd CV. wdh 
photo aw t^orf raaiirtmMb ta 
SC SA. 22 Asm. firtraler dn Satin. 
75016 Pah. Attn PWp Souhgn. 



SECRETARIES AVAILABLE 


RANDSTAD 

BBWGUAL AOMCV "Wljr BSnaial 




UXMNG fWTOP BlMGUALnr. 


INTERNATIONAL CLASSIFIED 


AUTO SHIPPING 


TRANSCAR 


THE CAR SH9TTNG 
SKOAliSIS 

(1) 025 64 44 
— 39-43 44 


Pars 

CAt*e/NCE 
fKAMCRKT . 

BOhtV / COLOGNE 
S1UTTGART 

MUNCH 
BSB«HAVe^ 

NEW YORK 

HOUSTON 
LOSANGBJ2S 
MONTREAL 

AGENTS WORLft __ 
Lome R to at to bring it to you 



«UMiCe 

TRANSSHIP ( 

Bgm^mteStr. 58760 
2800 Branen 1 
Tte (0K21/I4264 Tbe 246584 T ram 0 
Bei deo Munhren 91 
„ 2000 Hateira 11 

Tte (0)40/373703 He 214944 Tnn D 
o to DOT/ffA + band b USA. 
MwtonrofAJCA, Wahingtor 


AUTO SHIPPING 

AUTOS TAX FREE 

SHP YOU CAR TO < ROM USA 

VIA ANIWEBP AM3 SAVE, Frae ho- 

TRASCO 

LONDON 

Tfie Mercades Specialist 

WRttlPiflDE Cor th'ppisg & rranow- 
ab AIR, NV, AdwrufE 2D00 Art- 
warp. Balgbm. 03/231 l«3Tx3153S 

Sbrtdred Uinotoes 

Annoured Can 

Coodibuli Cars 

PA 4 DOT 

100 Cites a Stodc 

Direct irora Saraces 

AUTO CONVERSION 

* SUHCONVBT * 

The Mdert way la ragrasta 
Esnms car rate to ILIA. 
Workhride Amriorai reurar 
pawdes ol retired neon 

rad gsantew your era tel 
pass cfl US, govenmrt mxxfaids 
or your money bad: indefag 
ecamnion cad. 

Write or chons far tree brochure. 
GEEMANYJQ) 69-7152425 or 

0 7031 / 223099 

amsbcan Bin. iMmmnas 

Oberfadou 7678 

D6000 franltot/Moin 

6567 Itek Lane, tendon W.l. 

TAJ44J 1 - 6297779 

Telex: (51) 8956022 Tras G 

Gramny - tendon - Swtoriand 

mm 


AUTOS TAX FREE 


COOP® ST. JAMES 

OfflOAL AGENT 
OF BMW (GB) UD 

WUe )«• an in Europe; we «ai offer 
J?*® 1 on trend vow 
BMW cm to wort gofafa i 

Pud factory wara nl y . 

We conabo mpm right or Ite hand 
drive tw free BMW"* rt tourid prieei. 
We oho supply factory hoft bteet- 
proof BMWYanI the Afpna BMW 
range ton flee 

Gafl tendon (01} 629 6699 


TRANSCO 

IK IARGBT SHOWROOM 
AMI SRXX M BIROffi 
Keeping a constant «odc of more fan 
300 farad nonrem of al European + 

htotetete atees tornpetive^ priced. 

Tax Mm tesdMg insurance. 
Send far i i f Hcd nr free cahtog 
Traaco SA, 95 Nomfchm, 

Tel 323/54262^*35^071.1 


International Business Message Center 


ATTBiftON EXBCUIIVB 



413393) Mw 70u,» 

SSnee 

rwte ft US. $9 JO er W 


BUSINESS 

OPPORTUNTIIES 


OFFSHORES UK 
UDCOMPANES 

inavporahon aid iwwowiiFiifit UK. 
Mb of Mat, Turto. tequila, Oonl 

Hands, Panana Liberia GRnftar and 

«Mt rther ofMaj e areas. 

• CorfdeaiM advice 

• hnmedkee cvciohSty 



SBmCBUD 

Head Office 

Plswwt D adie Me of Me 
Tel: GoeMa <66M]S718 
TaieK&85&4 SHKTG 

UA4M4 uwiwwire 

2-5 ad BoodSjterteto W1 
Tel 01-4934344, iW 2B247 SCSU3N G 


BUSINESS 

OPPORTUNITIES 


GCM. LTD 

npaees fbnMd UX & waddvride 

Aa^ C0i “' 

ranasa ana Ltoana. 


afMa^n^Grert Britan, tot I 


MKHAB. SHOfC 
. SSCUWTB LTD 
Ntewal A M odaria n of SKurfly 
Deders and bMBrtnvrt Mawga i 
. tews to tea r from bored hwston 

tet, tendfa^ 7681 


COIttte rasnTON « Spon/Us M- 
raos or TbobtSIb offend by Sou* 

rmjnmn mas txxey ocna + n- 
rranaol sknSng. HT, Be* 2230, Frie- 
dndwr. 15. D6000 AanUwf/hUn 


. :l*t- 

... for trial 

,p.aB«38],a+ 

1001 taacwew Sivi&ertand. 


ter in ite 22nd wr. 
afctoriprion. FBK_, P.Q 


DSAWARE, PANAMA, Liberia. Car. 
G.Ntoua 


BRAND POIUME WANTBX 

or sn 
802. 


OFFICE SERVICES 


IMPETUS • ZURICH * HI 76 ll. 
PHONE /TBEX/TEffAX. 


OFFICE SERVICES BUSINESS SERVICES 


ACTE 50 BUSINESS 
CENTOS M BJROPE 

Ftey.egdpped offices to nrt. 

ndt totes, fas. 


am. 

VEAUIIU. PEOPLE 
UNUMmDBBC 
UiA. A WOBUtlMDE 

| A n nnjteto p— gal ft barings senece 


Tel (1) 4U9775S, Ite 6421 B7 F 
G8CVA 

Tel: (22) 469004^ne421B18 CM 
Tl (69)710 OOM Tlx 1 76997263 D 


PARIS 

CHAMPS B.YSS5 
FUBNKHS 

OFFICES 

VBV HIGH OASS 


212-765-7793 

212-765-7794 
330 W. Sftb St, N.YC. 10019 

rmwasa wencmaae. 


TOUR ONKEMICW TOO. Ffflh 

Am. oriiex ond/ar phones a: yoor 
USA office- MaL phone a* roavved 
4 fanjantod. hW Vcxlt Mte Swvioe, 
210 RttiAex. NYC 100ia 


HOW TO «T A 2nd PASSPORT. 

' -_12 amWies analyzed Do- 
rp Terrace, 
Kang. 


report - 12 co untri e s anal yj 
tofc WMA, 45 tenfent 
Suite 566. Ortrai Haw Kat 


75116 


TA1BAT - TELEX. HOC 

Lira 

Tefc(l] 


OFFICES FOR RENT 


I£ SATHU7E 8 rue Copemfc 
Prato. Tetri 11 4727 1559. 


PERMAPHONE 


your nRMUHm oma 

, . . M LOtDON 

• 7 ctoy 24 hour excess & aawerphane 

• R* ssn»rt services in d edn a 

• Caporato B e prse e rtuto n Sennet 

• Short or long term avciabiiy 

World- Wde Bntoeee Ceteloe 
TlOThe 5frond tendon WC2JIOAA 
Tot 01 B36-891S The 24973 


i ana 

WHi KNOWN SMS 1965 

Fohteed offices, telex, 
CTHwarm isnm, domieSotioo 

forraofcon, etc. For further 

contact us at 

BrttFfaaaei 43 S9 63^ T^MCOMF 


TOW OfflCE M HUBS: THE*, 

ANSWBONG SSVJCE, seeratay, 


«WB - OFBCE SPACE 356 sq«. 
■ Jos- My air ooadh 

1 J 100X * — : — - 


46W9S951 


wtfi 8 priwto offices, totoehene in- 
*^9*03. Can be rantodhoridtest 
Far further erfa contoetM- CasjS or 
Mr Paris. Tte Atrhem 9215128/P. 



AUTOS TAX FREE | LOW COST FUGHTS 


L£S AUTOMON LB 
EXTRAORDINAJRB 

EXCAUBUR, OENET, STUTZ, 
Z1MAABL JBItet, TVS 6 OtWR 
P9EST1GKXK AUTOMOBILES 

Monte Carlo (93 25 74 79 

The 479550 AUTO MC 


umcATMe ous. au. types - 

competitive pricei.Traranu nJ Bel- 
gium. Tel. 325384.1054. Tbe 32302 
Trasra 8. 


TAX free cm, te ma tes & models. 


ACCESS USA 


Ora Way Round Trip 
New York FI 500 F2990 

Las Angete P2600 F4170 

ChKX»D R590 F3450 

ASon* F298Q F3450 

Otando FH90 F3450 

Dales F3430 F3660 

Montreal R890 F3000 

smd mare destinations - 
15% daeounl an 1st das 

PARS tet (1) 42 21 46 94 

|Ca. lie 1502) 


low cost Fuarrs 


LEGAL SERVICES 


OO YOU WANT A 2ND PASSPORT? 
1MC BCM 6567 London WC1N3XX 


HOLIDAYS & TRAVEL 


M/V ISLAND BCPIOBER 

Unary ’■pedtion s throuteout Wane- 
sian Anhipeloga eftoatf the awiSner 
MAT UtJdSlorer'. 1986 Schedule 
npwiiwdafakTba46683SALAaM/V 
Uand Bqjlorar - JL Irtjen. S. Pannan 
78. Sfe», Maria Borat, Indonesia 


HOLIDAYS & TRAVEL 


ICUAS YACHTB4G: Yacht Charter 
‘ 28. Alhera 10671, Groan. 


BOOKS 


FOR YOlBt STATESIDE BOOK Needs, 
ymle or phone: BOOK CAU. c/o 
New-Cqnaan Boa b hop, 59 »n St.. 
Jtew Coraan CT 06846 USA . 

9665470. Mod orders > 


PAGE 4 
FOR MORE 
CLASSIFIEDS 


The Daily Source for 
mtematumal Investors. 

;■ : ; •• .fitoft • • ids!®* • w- *■ 





Plcw« Your Chassifiod Ad Quickly cand Easily 

in tffis 

INTERNATIONAL HERALD TRIBUNE 

^PfeantoCte yew kxd ftITiapraeentafive telh your tote You te fefennte of tte cod inmmfceeiy. and once prepayment n made your cd will 

apfNKv win mi i as hours. ■ 

! t ^” ic ^ “.?- a 0 .P?' E, *P ar ^ day + bed tom. There ran 25 lestew.dgns raid spaces ta the fin! fine and 36 in the folknring feet. 
space b 2 RnsL no QobrBviavKsni accepted. ■ 

CiwSt Cradc American Express. Diner'i Oub, Eurecard, Mooter Card, Access end Van. 


HEAP OFBCE 

MBS: Par France and te oosuv 
tries not Esfed below 181 Ave. 
Charlas-de-Goulte, 92521 
NeuSy Cede*. TaL. 47^7-46- 

613^ CW1 ° d 

HJBOPE 

AUSTRIA 6 GERMANY: Sigrid 
Konrad. U4.T.. Frieetoch s nmso 
15. 06000 Frankfurt, Tel^ 
KVw726755l Telex: 416721. 

BOGUM ftUXXEMBOURG: Ai^ 
thur Mcraner, 6 Sue Lot* Hy- 
raant, 1060 Brussels. Taf.i 
343.1899. Telex: 2392 AMS. 

GREECE A CYPRUSiAC Sanct- 
ion. Pindarou 26. Athens 
10673. Tel.- 3618397/3602421. 
Tetee 218344 BS GR. 

ISRAEL Dan SfeWi, 92 Iteahkh 

Street. P.O. Bax 11297, Tel 
Ato, T«L 45 55 99/45 A 37. 
The 341118 BJCTYRKT 6376. 
ITALY 

ROME Antonio Sambrotta 55 
V« deflo Mereede, 00187 

620500 PPCSRA. 

sssass? 

WnOlAMlS: Arnold Tee> 
ing/AMm Grim, Prof. Tub- 
& Atosserdam. 

lSm” 0 " 26 34 ,5- T * ,s * : 

POBUOAURia Arabar. 32 R ua 
u * bofl - 

Tdu 672793 & 662544, 
SCANDINAVIA 
DraURK IMHAABOOKING 
NTWM'nCNAL Abenro 31. 
DK-1124 KobenhovnIC Den- 
mart TaL 1-329440. Tetee 
16447 meftadt 


SWH»fc Mrs. Marie FeBborn, 
PeSxvn Maricrtsig & Distrd}u- 

SPAIN: AKreda Urrtouff Scr- 
rnierito. Iberia Mart 1. 6 D, Pe- 
dro Teixae-c 8, Madrid 28020. 
TA: 455 28 91-455 33 06, Tte 
47747 SUVA E. 

SWITZERLAND: Guy Von 
Thvyne end MorsHol W teer, 
“Les Viprm , T50ranrn Dovrt, 
1009 PuHy/Lauscnne. T«l.t 
£21) 29-58-94. Telex: 

»22Gvrat 

UNTTHJ KMGDOMi S. Odd, 

Teh* 262009. 

U-S-A. 

D*one Roaata, tatemationd Her- 
did Tribune, 851 Third Awe- 
New York. MY. 10022. 1U] 
212-732 3W0. Telex, 427 175. 


PANAMA: 


lAs Jose A Severing 
i Network Inc. P. 


Rto- KOREA: Universal P u fatcorio n s 


ICHAJUSBA 

ondo Strrmento, Aiyo- 

rea Calderon 155, PSso fe, San 
ndro, Lima-27. Peru. Tel.: 
5114} 417852. Ttx^ 20469 



: Juan WteT, Apar- 
tado 611 1 . Caracas 1010, V*n- 
•atea.TeL33U54.Tbc.-V6n- 
■zuefa 24508 SERB VC 

MflPWftEAST 
BANRAK fiarbam Awe. P.O, 


UMPUBL 
WBUHtWEfc Peter Capotcsto, 
Merfia Representatives Inc.. 
G®*n Roar, Corinthian Ho- 
rn Ptsao da Rcecas Mala*. 
JM-81 7 07.497 81 7.05.82, 
817A12. Thu 66112 MM PM 
SINGAPORE, MALAYSIA: Stan- 
ley To?, q«NEY TAN ASSO- 
CS^TB. 20 McCaBum Shwt, 
17-01/02 Asa Chambers, Sta- 

TAIWAN: Ye 


Tic: 510 100 

LATHV AMHttCA 
ARGBniNA: bis IW. Aw. Al- 

uni aw o 


A8ZCO KT. 

LEBANON: WoSd Azs Tanara, 
PjOl Box 11-638, Beirut. Tel, 
Hamra Office, 341457. Tetec 
42244 LE 

QATAR: Add Subcn, Dana Pub- 
fc Rdatjons, P.O. Bax 3797. 
Doha. Qrtar. Tdj 416535/ 

rases Bumndc Adwertitina 
■tedddi. TeL 667-1500/ Thu 



THAjUNDt Swie.Car^ Grade 


412953. Tdrae 72731 ' '(5n^. 


HR A 7B . : Antoni o Sco wone. SDL 
Gm Postd 3099, OP 01442 
Sao Paulo. TeL M2 189a Tte 
1124491 SOGBR. 

CWBKANi James Forty, 210 
^47jh5trejt Sifte 1 If. New 
MY. 10dl7 USA. TeL 
(212)3557034. 

°f 1 ^. fegartta_fvcnles Stone. 

^jO^«61555:TbulSm 

EOjADOfc te jrf Lom armo, P/3. 


Pen Gulf 

PuUdfy, P.O. Box3»i Dufad. 
Tate 224161/224161 Thu 
45884 PANCO EM. 

FAR EAST 

HOtoS KONQs C Omw & A*. 
MootaslitL 17th floor D'Agw- 
lor Place 1/1 3 O'Agufte Street 

Cedftn RBCHENET HONG- 

JAKARTA: Harris Thqeh/Enge- 
Sno Tan, P.T. 5opra, Room 
1006, Paira Bfcb, JL Gceot 
Sufaroto, Kav/ffi34, Jdaeta 
Putot, tedon aiiu . TaL 510092. 

jANan&iM. 

Soles Japan tnc_ Tarneraeho 
BuRtfing, 3-3-14. Shhnbashi, 
M i nu tojw. Toiyo 105. TaL 
504 1925. Tain 25666. 


53* Tel.:'j90.06.S7 

Tatee 20772 CARO TH. 

AUSTRALIA 

MBBOWttlE: Mr Retort Gaff, 
fi^/oroe Metfia Rapraenta- 

8233, Uej 39181 
SYDNEY: 1. McGowan, J. 
W3w» M«So Pty, Ld., 

S P**7, 
aWLAuftalio. TeL 
929 56 39 or 957 43 20. 

QU®®4AND: Edward M Wn- 

a jedwat IVomotioia Ply- 
Stee 17. 1st Roar, Pt£ 
(SngtonMartet, 261 Given Ter- 

igtan 6064. T* 

VWIBW mWRAUA: 8AAI-. 

3269833. TM: 9<ffl2AA 
SOUTH AFRICA 

•ttawahsti 




1 


\ -V 


It 

4 

I .<*: 


• 

1 -if 

M 

M 


ll 

if 

t'-r 


m 

i| 




Imprim&par Offprint, 73 rue de rEvm&Ie, 75Q18 Paris.